india 2020 kalam
DESCRIPTION
Uploaded from Google DocsTRANSCRIPT
!!
"#$"%!&'&'"#"$%&%'(")'*"+,-".-/"0%11-((%23!
%()(*(!%+,-.!/0.01!"#$%!
2(3(!40506"
45.678."9::;<
="
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
4-(B2%("9''C&"F+?G"X-B%&+-*-?":))%I-& "̂VK"<+*D(?G"F'(?'("WH=X"KXFG"5(B1D(?"
_%*&+"A2>1%&,-?"%("$%C%(B">@"4-(B2%("9''C&"8(?%D"!\\V"42>1%&,-?">@"4-(B2%("9''C&"=KK="
H'A@*%B,+"`"#O4O[O";D1D3"D(?"SO<O"XDaD("!\\V"
#11"*%B,+&"*-&-*E-?"
!Q"!T"!P"!="
U@A-&-+"%(".->*D&CD">@"<7XS#G".-/"J-1,%"4*%(+-?"D+"H,D3D(":))&-+"4*%(+-*&G".-/ J-1,%"
U,%&">''C"%&"&'1?"&2>a-I+"+'"+,-"I'(?%+%'("+,D+"%+"&,D11"('+G">@"D(@"/D@"')"+*D?-"'*"'+,-*/%&-G">-"1-(+G"*-&'1?G",%*-?"'2+G"'*"'+,-*/%&-"I%*I21D+-?"/%+,'2+"+,-"A2>1%&,-*Y&"A*%'*"/*%++-("I'(&-(+"%("D(@")'*3"')">%(?%(B"'*"I'E-*"'+,-* +,D("%("/,%I,"%+"%&"A2>1%&,-?"D(?"/%+,'2+"D"&%3%1D*"I'(?%+%'("%(I12?%(B"+,%&"I'(?%+%'(">-%(B"%3A'&-?"'("+,-"&2>&-b2-(+"A2*I,D&-*"D(?"/%+,'2+"1%3%+%(B"+,-"*%B,+&"2(?-*"I'A@*%B,+"*-&-*E-?"D>'E-G"('"AD*+"')"+,%&"A2>1%ID+%'("3D@">-"*-A*'?2I-?G"&+'*-?"%("'*"%(+*'?2I-?"%(+'"D"*-+*%-ED1"&@&+-3G"'*"+*D(&3%++-?"%("D(@")'*3"'*">@"D(@"3-D(&"M-1-I+*'(%IG"3-I,D(%ID1G"A,'+'I'A@%(BG"*-I'*?%(BG"'*"'+,-*/%&-NG"/%+,'2+" +,-"A*%'*"/*%++-("A-*3%&&%'("')">'+,"+,-"I'A@*%B,+"'/(-*"D(?"+,-"D>'E-c3-(+%'(-?"A2>1%&,-*"')"+,%&">''CO
P!
&'$()!*+(!*'!%#,!$-./,!0(.#1()(0!23!4)!5-.-67!-!$(+83(-)8*.0!9#).!
:-6(!;<!$*!%#6!'*)!%#,!-;$*9)-<%=!>"%-$!#,!3*;)!-62#$#*+?@!
%(!-,/(0!%()=!>A!B-+$!$*!.#1(!#+!-!0(1(.*<(0!A+0#-7@!,%(!)(<.#(0!
B#$%*;$!%(,#$-$#*+=!C%#,!2**/!#,!0(0#:-$(0!$*!%()!-+0!$%(!
6#..#*+,!*'!A+0#-+,!B%*!,%-)(!%()!-,<#)-$#*+=
T"
8)"+,'&-"/,'"+,%(C"+'"DI,%-E-G"
RDE-"D")%*3"D(?")'I2&-?"3%(?G"
U,-@"/%11"*-D1%d-"/,D+"+,-@"+,'2B,+"')G"
#(?"-E-("D&"+,-@",DE-"+,'2B,+"')O"
ccU,%*2CC2*D1
Q"
H'(+-(+&!
&:/+*B.(09(6(+$," E%!
D)('-:(" E%%"
!O" HD("8(?%D"9-I'3-"D"J-E-1'A-?"H'2(+*@e" !K"
=O" W,D+"'+,-*"I'2(+*%-&"5(E%&%'(")'*"U,-3&-1E-&" P!"
PO" 5E'21+%'("')"U-I,('1'B@"$%&%'("=K=K" T\"
TO" _''?G"#B*%I21+2*-"D(?"4*'I-&&%(B" ]!"
QO" 0D+-*%D1&"D(?"+,-"_2+2*-" VP"
]O" H,-3%ID1&"8(?2&+*%-&"D(?":2*"9%'1'B%ID1"W-D1+," !!K"
LO" 0D(2)DI+2*%(B")'*"+,-")2+2*-" !=\"
VO" <-*E%I-&"#&"4-'A1-Y&"W-D1+," !TP"
\O" <+*D+-B%I"8(?2&+*%-&" !LK"
!KO R-D1+,"HD*-")'*"#11" !\]"
!!O U,-"5(D>1%(B"8()*D&+*2I+2*-" =!L"
!=O X-D1%d%(B"+,-"$%&%'(" =TK!
&'$()B*)0" =QK!
&<<(+0#E" =]T!
F('()(+:(,!-+0!';)$%()!)(-0#+9" =]]
]!
%7869:.;,<;1;6=>"
8("/*%+%(B"+,%&">''CG"'2*"%?-D&",DE-">--("&,DA-?">@"&-E-*D1",2(?*-?"8(?%D(&ccc&'3-"E-*@"
/-11" C('/(O" 5DI," %(+-*DI+%'(" -(*%I,-?" '2*" -fA-*%-(I-" D(?" D??-?" D" (-/" ?%3-(&%'(" +'"
2(?-*&+D(?%(B" 8(?%DY&" ?-E-1'A3-(+D1" (--?&" D(?" DI+%'(&" *-b2%*-?O" 8+" %&" ?%))%I21+" +'" 1%&+"
-E-*@"(D3-O"_%*&+"D(?")'*-3'&+G"/-"D*-"+,D(C)21"+'"+,-"H,D%*A-*&'(&"D(?"H'cI,D%*A-*&'(&"
')" +,-" ED*%'2&" U-I,('1'B@" $%&%'(" =K=K" UD&C" _'*I-&" D(?" 4D(-1&" D&" /-11" D&" +,-"
I''*?%(D+'*&"D(?"+,-"C-@"U8_#H"A-*&'(&"/,'",-1A-?"%("+,-"/,'1-"$%&%'("=K=K"-f-*I%&-O"
U,-%*"(D3-&"D*-"1%&+-?"%("D("#AA-(?%f"+'"+,%&">''CO"8("D??%+%'(G"+,-"3-3>-*&"')"+,-"
6'E-*(%(B"H'2(I%1"')"U8_#H"I'(+%(2-"+'">-"D"&'2*I-"')"-(I'2*DB-3-(+O"U,-*-"D*-"3D(@"
3-3>-*&"')"+,-"U-I,('1'B@"$%&%'("=K=K"UD&C"_'*I-&G"4D(-1&G"*-I-(+1@"I'(&+%+2+-?"#I+%'("
U-D3"3-3>-*&"D(?"+,-"&+D))"')"U8_#HO"W-"+,D(C"+,-3")'*"+,-%*"?-?%ID+-?"/'*CO"X-&21+&"
')"+,-%*"/'*C",DE-">--("+,-"&'2*I-"')"D"(23>-*"')"2&-)21"%(A2+&"%("/*%+%(B"+,%&">''CO"W-"
+,D(C"4*')"$O<O"XD3D32*+,@G"<-I*-+D*@G"J-AD*+3-(+"')"<I%-(I-"D(?"U-I,('1'B@G")'*"+,-"
-(I'2*DB-3-(+"D(?"+,-"A-*3%&&%'("B%E-("+'"2&-"+,-"3D+-*%D1")*'3"U8_#H"*-A'*+&O"
W,%1-" -3>D*C%(B" '(" +,%&" a'2*(-@"')"/*%+%(B" D" >''CG"/-" *-D1%d-?" +,-"3DB(%+2?-"')"
ED*%'2&"?-+D%1-?"DI+%E%+%-&" &+D*+%(B"/%+," +,-"3D(2&I*%A+O"U,-">''C"/'21?" ('+",DE-" +DC-("
+,%&" &,DA-"/%+,'2+" +,-" &%(I-*-G" 2(+%*%(B" D(?" ?-?%ID+-?" -))'*+" A2+" )'*+," >@"RO" <,-*%?'(G"
>-@'(?",%&" 1'(B"'))%I-",'2*&O"R%&" 1DA+'A"I'3A2+-*"/D&"D1/D@&">2&@")'*"+,-"AD&+"&-E-*D1"
3'(+,&O"W-"D1&'"+,D(C";*%&,(D"H,'A*D"')"4-(B2%("9''C&")'*",%&"-fI-11-(+"A*'a-I+"
3D(DB-3-(+"%("&,DA%(B"+,-">''C"+'"%+&")%(D1")'*3O"
SO<O"XDaD("/'21?" 1%C-" +'" +,D(C" ,%&"/%)-"6'3D+,%G"/,'",D&" >--(" D" B*-D+" &'2*I-"')"
&+*-(B+,"+,*'2B,",-*"D))-I+%'("D(?"+-(?-*"ID*-"D(?"+,*'2B,"+,-"ID(?%?"-fA*-&&%'("')",-*"
%(&%B,+&"%(+'"*-D1c1%)-"&%+2D+%'(&O"
#O4O[O"#>?21";D1D3"/'21?" 1%C-" +'" A1DI-" '(" *-I'*?&" ,%&" +,D(C&" +'" +,-" +,'2&D(?&" ')"
8(?%D(&" /,'" /*%+-" +'" ,%3" '(" &-E-*D1" 'IID&%'(&" D(?" %(&A%*-" ,%3" +'" 2(?-*+DC-" &-E-*D1"
+-I,('1'B%ID1"+D&C&")'*"8(?%DO
L!
"#$%&'$"
9'+,"')"2&"/-*-">'*("/,-("8(?%D"/D&"&+%11" &+*2BB1%(B" )'*",-*"8(?-A-(?-(I-O":(-"/D&" %("
+,-" )%(D1" @-D*" ')" &I,''1" /,-(" [D/D,D*1D1" .-,*2" 3D?-" ,%&" )D3'2&" &A--I," D>'2+" 8(?%D"
/DC%(B" 2A" +'" 3DC-" ,-*" +*@&+" /%+," ?-&+%(@g" +,-" '+,-*" /D&" D" I,%1?" &A-DC%(B" D" )%*&+" )-/"
/'*?&O" :2*" )D3%1%-&" /-*-" ('+" C('/(" )'*" *%I,-&" '*" A'/-*O" J-&+%(@" %(" +,-" )'*3" ')" +,-"
A*'B*-&&%E-"3-D&2*-&" +DC-(" >@" %(?-A-(?-(+" 8(?%D" +'" ,D*(-&&" &I%-(I-" D(?" +-I,('1'B@" %("
'*?-*"+'"?-E-1'A"D"3'?-*("(D+%'(">*'2B,+"2&"+'B-+,-*O"
8+"/D&"+,-"E%&%'("')"$%C*D3"<D&*D>,D%G"&2AA'*+-?">@".-,*2"D(?"R'3%"9,D>,DG"/,%I,"
BDE-"2&"+,-"'AA'*+2(%+@"+'"/'*C"'("+,-"&ADI-"A*'B*D33-O"U,-"A*'B*D33-"/D&"D%3-?"D+"
ID**@%(B"?-E-1'A3-(+D1"3-&&DB-&"%(+'",'3-&"D11"'E-*"+,-"I'2(+*@G"-&A-I%D11@"%("+,-"]"1DC,"
E%11DB-&G" >@" 1-DAc)*'BB%(B" 3D(@" +*D?%+%'(D1" *'2+-&O" U,-" A*'B*D33-" D1&'" D%3-?" D+"
&2*E-@%(B"+,-"(D+2*D1"*-&'2*I-&"')"+,-"I'2(+*@"&'"+,D+"+,-@"I'21?">-",D*(-&&-?"
+'" >-(-)%+" '2*" A-'A1-O" 0D(@" %(" 8(?%D" 32&+" ,DE-" I'(&%?-*-?" +,-&-" '>a-I+%E-&" D("
2(D++D%(D>1-"?*-D3"%("+,-"-D*1@"]KY&"/,-("+,-"&ADI-"A*'B*D33-"/D&">'*(O"W-G",'/-E-*G"
D1'(B"/%+,"3D(@"')"'2*"I'11-DB2-&G"&D/"+,-&-"D%3&"D&"D"E%&%'("*-D1"D(?"D++D%(D>1-O"W,D+"
)'11'/-?"/D&" D" &,D*-?"3%&&%'(O"5E-*@" A-*&'(" %(" 8<X:">-1%-E-?" +,D+" +,-@"/-*-" >'*(" +'"
*-D1%d-"D11"+,D+"&ADI-"+-I,('1'B@"ID(">*%(B"+'"+,-"I'2(+*@"D(?"%+&"A-'A1-O"
_'*" 2&G" +,-(G" +,-*-"/D&" ('" B'%(B" >DICO"U,-*-"/-*-" ?D@&" D(?" (%B,+&" '"/'*CO"0D(@"
)D%12*-&" D(?" D" )-/" ,D*?c/'(" &2II-&&-&O" U,-" &@&+-3" /,%I," /-*-" ?-&%B(-?G" ?-E-1'A-?G"
)D>*%ID+-?"D(?"+-&+-?"/-*-"?%*-I+-?"+'/D*?&"D"I'33'("B'D1ccD"&+*'(B"8(?%DG"D"?-E-1'A-?"
D(?"A*'2?"8(?%D"/%+,"+,-">-(-)%+&"DED%1D>1-"D11"'E-*"+,-"I'2(+*@O"8+"%&"B*D+%)@%(B"+'"('+-"+,-"
E%&%'(G"%("*-1D+%'("+'"&ADI-"+-I,('1'B@G",D&"I'3-"+*2-"('/"-&A-I%D11@"%("+-*3&"')"*-DI,%(B"
'2+" +'"+,-"A-'A1-g"A*'E%?%(B"I'332(%ID+%'(" +,*'2B,"(-+/'*C&" %(" *-3'+-"D*-D&g"?%&D&+-*"
/D*(%(B" &@&+-3&g" b2%IC" *-&'2*I-" &2*E-@&" +'" +D*B-+" B*'2(?"/D+-*G" &DE-" '2*" )'*-&+" I'E-*"
D(?"&'"'(O"#(?G"')"I'2*&-G"%("D*-D&"')"I-*+D%("&+*D+-B%I"&+*-(B+,&G"E%+D1"+'"8(?%D"%("D"/'*1?"
/,%I,"*-&A-I+&"'(1@"&+*-(B+,O"
W-" D*-" D1&'" A*'2?" D(?" ,DAA@" +,D+" ?*-D3&" ')" 3D(@" 8(?%D(&" %(" +,-" DB*%I21+2*D1G"
&I%-(+%)%IG"D*+%&+%IG"I21+2*D1"D(?"&'I%D1")%-1?&",DE-"D1&'"I'3-"+*2-O R'/-E-*G"+,-"E%&%'("')"D
V"
A*'&A-*'2&"8(?%D"/%+,'2+"A'E-*+@G"D("8(?%D"&+*'(B"%("+*D?-"D(?"I'33-*I-G"D("8(?%D"&+*'(B"
%(" 3D(@" )%-1?&" ')" &I%-(I-" D(?" +-I,('1'B@G" D(" 8(?%D" /%+," %(('ED+%E-" %(?2&+*@" D(?" /%+,"
,-D1+,"D(?"-?2ID+%'(" )'*"D11G",D&"*-3D%(-?" a2&+"AD*+%D11@"*-D1%d-?O"8(" &'3-"D*-D&G" %(" )DI+G"
A-&&%3%&3",D&"+DC-("?--A"*''+&O"
W-",DE-"I'3A1-+-?"+,-")%)+%-+,"@-D*"')"'2*"%(?-A-(?-(I-G"/%+,"D"1D*B-"3Da'*%+@">'*("
D)+-*" %(?-A-(?-(I-O" 5E-*@" @-D*" D>'2+" +/-(+@" 3%11%'(" 8(?%D(&" D*-" >-%(B" D??-?" +'" +,-"
(D+%'(O"W,D+"E%&%'("ID("+,-@",DE-e"<,'21?"/-G" 1%C-"&'3-G"b2-&+%'("+,-"E-*@"I'(I-A+"')"
?-E-1'A3-(+" D(?" 1-DE-" '2*" A-'A1-" +'" +,-" &D3-" I'(?%+%'(" ')" &+DB(D+%'(" /,%I," -f%&+-?"
+,-*-")'*"I-(+2*%-&e":*"+,%(C"'(1@"')"+,-"2AA-*"&+*D+D"')"&'I%-+@"D(?"1-DE-"+,-"*-&+"+'"+,-%*"
)D+-G" -3A1'@%(B" &2I," (%I-" &'2(?%(B" A,*D&-&" D&" h3D*C-+" ?*%E-(" &+*D+-B%-&Y" D(?"
hI'3A-+%+%E-(-&&Ye":*"1-DE-"+,-"%(%+%D+%E-"+'"ED*%'2&"B1'>D1%d%(B")'*I-&e"W,-*-"&,'21?"/-"
&--"8(?%D"MD(?"%+&"A-'A1-N"B'%(B"%("+,-"(-f+"+/'"?-ID?-&e"8("+,-"(-f+")%E-"
?-ID?-&e"#(?"3'*-e"
U,-"D2+,'*&"/-*-" )'*+2(D+-"+'",DE-">--("D&&'I%D+-?"/%+,"D" 1D*B-"(23>-*"')"A-*&'(&"
/,'"/-*-" %(+-*-&+-?" %(" A'&%(B" +,-&-" b2-&+%'(&" D(?" )%(?%(B" &'3-" D(&/-*&O" U,-&-" ID3-"
&2>&+D(+%D11@"+,*'2B,"D"('E-1"'*BD(%dD+%'(G"+,-"U-I,('1'B@"8()'*3D+%'(G"
_'*-ID&+%(B" D(?"#&&-&&3-(+"H'2(I%1" MU8_#HNG"/,%I," 1D2(I,-?" D"3Da'*" -f-*I%&-" ID11-?"
U-I,('1'B@"$%&%'(")'*"8(?%D"2A"+'"=K=KO"
#>'2+"QKK"-fA-*+&"/%+,"2(%b2-"-fA-*%-(I-" %(" %(?2&+*@G"#ID?-3%IG" 1D>'*D+'*%-&"D(?"
B'E-*(3-(+" D?3%(%&+*D+%'(" /-*-" ?--A1@" %(E'1E-?" %(" +,-" -f-*I%&-O" 5fA-*+&" D(?" &'I%D11@"
D/D*-" A-*&'(&" D1&'" AD*+%I%AD+-?O" #>'2+" QKKK" A-'A1-" I'(+*%>2+-?" %(?%*-I+1@" +,*'2B,"
*-&A'(&-&"+'"b2-&+%'((D%*-&"D(?"'+,-*"%(A2+&O"
<2>&-b2-(+1@G"/,%1-"+,-"+-D3&"?-1%>-*D+-?"'("ED*%'2&"%&&2-&"D(?"+,-"?*D)+"*-A'*+&G"D(?"
1D+-*" /,-(" +,-" *-A'*+" /D&" *-1-D&-?" >@" +,-" 4*%3-"0%(%&+-*" '(" =" #2B2&+" !\\]G" /-" ,D?"
(23-*'2&"'AA'*+2(%+%-&"+'"%(+-*DI+"/%+,"3D(@"'+,-*&"D>'2+"D"E%&%'(")'*"8(?%DO"W-",D?"+,-"
>-(-)%+" ')" ED*%'2&" %(A2+&" *D(B%(B" )*'3" -(I'2*DB%(B" &2BB-&+%'(&" )'*" &A-I%)%I" DI+%'(&" +'"
A-&&%3%&+%I"I'33-(+&"D>'2+"+,-"%(D>%1%+@"')"&@&+-3&"+'"DI+"'("D(@+,%(B")'I2&-?"D(?"1'(B"
+-*3O"W-"+*DE-1-?"/%?-1@"+'"%(+-*DI+"/%+,"?%))-*-(+"&-I+%'(&"')"A-'A1-"%("ED*%-BD+-?"AD*+&"
')"+,-"I'2(+*@O"W-"D1&'"*-)1-I+-?"'("+,-"%3A-*D+%E-&")'*"8(?%D"%("I,D(B%(B"/'*1?O"
W-"D*-"D/D*-"')"'2*"&@&+-3&"')"B'E-*(D(I-"D(?"&'I%D1"D(?"A'1%+%ID1"I'3A21&%'(&O"W-"
D*-" )'*+2(D+-" +'" ,DE-" BD%(-?" -fA-*%-(I-" %(" %3A1-3-(+%(B" A*'a-I+&" %(E'1E%(B" A-'A1-" ')
\"
ED*%'2&"&+*D+D"D&">-(-)%I%D*%-&G"D&"/-11"D&"A*'a-I+&"-(+D%1%(B"&+*'(B"I'33-*I%D1"A*-&&2*-&"
D(?" +,'&-" +,D+" D*-" ,%B," A*')%1-G" &2I," D&" D" &D+-11%+-" '*" D" 1D2(I," E-,%I1-" '*" A*'a-I+O" U,-"
-f-I2+%'(" ')" +,-&-" &I,-3-&" A*'E%?-?" ED*%-?" -fA-*%-(I-&G" /,%I," /'*C-?" D&" >D&-" 1%(-"
C('/1-?B-")'*"+,-"&,DA%(B"')"+,%&">''CO"
RDE%(B" +DC-(" +,-&-" )DI+'*&" %(+'"DII'2(+"D(?"D)+-*" &+2?@%(B"&-E-*D1" E%&%'(" *-A'*+&"')"
8(?%D"D(?"'+,-*"I'2(+*%-&G"/-"&+%11">-1%-E-")%*31@"+,D+"8(?%D"ID("*-DI,"D"?-E-1'A-?"I'2(+*@"
&+D+2&">@"=K=KO"U,-"8(?%D("A-'A1-"ID("*%&-"/-11"D>'E-"+,-"A*-&-(+"A'E-*+@"D(?"I'(+*%>2+-"
3'*-" A*'?2I+%E-1@" +'" +,-%*" I'2(+*@" >-ID2&-" ')" +,-%*" '/(" %3A*'E-?" ,-D1+,G" -?2ID+%'("
3%&&%1-"D(?"&-1)c-&+--3O" 8(?%D"ID(" ,DE-"I'(&%?-*D>1-" +-I,('1'B%ID1" &+*-(B+,&G" &'"I*2I%D1"
)'*"%+&"&+*D+-B%I"&+*-(B+,&"D(?")'*"-I'('3%I"D(?"+*D?-c*-1D+-?"&+*-(B+,&O"
8(" +,%&" >''C" /-" ,DE-" D++-3A+-?" +'" &,D*-" &'3-" ')" +,-&-" +,'2B,+&O" W-" ,DE-" D1&'"
?%&I1'&-?"-1-3-(+&"')"D")-/"DI+%'("A1D(&G"/,%I,"ID(">-"3%&&%'(&")'*"3D(@"@'2(B"A-'A1-"
%("+,-"I'2(+*@O"W-",'A-"+,D+"+,-&-"/%11",-1A"+'"&+%321D+-"@'2(B"8(?%D(&"D(?" %B(%+-"+,-%*"
3%(?&"%("+,-"&D3-"/D@"+,D+"/-"/-*-"%B(%+-?">@"+,-"&ADI-"A*'B*D33-"+,*--"?-ID?-&"DB'O"
:2*"E%&%'("D,-D?" )'*" +,-"I'2(+*@"D(?"+,-"3%&&%1-&"/-"&--">-)'*-"2&"3DC-"2&" )--1"@'2(B"
-E-("('/O"
#"?-E-1'A-?"8(?%DG">@"=K=K"'*"-E-("-D*1%-*"%&"('+"D"?*-D3O"8+"(--?"('+"-E-(">-"D"3-*-"
D&A%*D+%'("%("+,-"3%(?&"')"3D(@"8(?%D(&O"8+""%&""D"3%&&%'("/-"ID("/-"ID("D11"+DC-"2Ac"D(?"
DII'3A1%&,O"
8B(%+-?"@'2(B"3%(?&G"/-")--1G"D*-"D"A'/-*)21"*-&'2*I-O"U,%&"*-&'2*I-"%&"3%B,+%-*"
+,D("D(@"*-&'2*I-"'("+,-"-D*+,G"%("+,-"&C@"D(?"2(?-*"+,-"&-DO"W-"32&+"D11"/'*C"+'B-+,-*"+'"
+*D(&)'*3"'2*"h?-E-1'A%(B"%(?%DY"%(+'"D"h?-E-1'A-?"%(?%DYG"D(?"+,-"*-E'12+%'("*-b2%*-?")'*"
+,%&" -))'*+" 32&+" " &+D*+" %(" '2*" 3%(?&OU,%&" >''CG=K=KG/%11" ,'A-)211@" >-" +,-" &'2*I-" )'*"
%B(%+%(B"3D(@"3%(?&O
!K!
?@0A=;B!C"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii!
?06!"6,D0!E;791;!0!$;F;.9A;,!?9-6=BGH!
())!*+$!,#-*+$#.!-%!*+$!/--#!0$./1.$!+123!+-4!25'+!2-#$!0-!+1.!%#1$60.!7-!%&#!%#-2!
+128!9$!/5#.5$.!*+$2!41*+!4-#0.3!,5*!*+$:!&#$!7-6$;!
<=)0!>$.*&2$6*!/#-?$#,!@ABC"
W,D+" 3DC-&" D" I'2(+*@" ?-E-1'A-?e"U,-"'>E%'2&" %(?%ID+'*&" D*-" +,-"/-D1+," ')" +,-"
(D+%'(G"+,-"A*'&A-*%+@"')" %+&"A-'A1-"D(?"%+&"&+D(?%(B"%("+,-"%(+-*(D+%'(D1")'*23O"U,-*-"D*-"
3D(@" %(?%ID+'*&"*-BD*?%(B"+,-"/-D1+,"')"D"(D+%'(^"+,-"B*'&&"(D+%'(D1"A*'?2I+"M6.4NG"+,-"
B*'&&"?'3-&+%I"A*'?2I+"M6J4NG"+,-">D1D(I-"')"AD@3-(+&G")'*-%B("-fI,D(B-"*-&-*E-&G"*D+-"
')"-I'('3%I&"B*'/+,G"A-*"IDA%+D"%(I'3-G"-+IO"8("D??%+%'(G"+,-"E'123-"')"+*D?-G"+,-"&,D*-"%("
%(+-*(D+%'(D1" +*D?-M>'+," %3A'*+&" D(?" -fA'*+&ND(?" *D+-" ')" B*'/+," %(" >'+," ')" +,-&-" D1&'"
A*'E%?-&" D(" %?-D" D>'2+" +,-" &+*-(B+," ')" -I'('3@" D(?" %+&" D>%1%+@" +'" &2&+D%(" +,-" /-D1+,"
I*-D+-?"D(?" +'"I*-D+-"3'*-" O5I'('3%I" %(?%ID+'*&"D*-" %3A'*+D(+G">2+" +,-@"A*'E%?-"'(1@"D"
AD*+" ')" +,-" A%I+2*-G" U,-" (23>-*&G" %3A*-&&%E-" +,'2B," +,-@" 3D@" DAA-D*G" ID(" E-%1"
I'(&%?-*D>1-",23D("3%&-*@G"-&A-I%D11@"+,D+"')"+,-"I'33'(""A-'A1-G"%("+,%&"I'(+-f+G"8"D(?"
*DaD(" ,DE-" ')+-(" ?%&I2&&-?" " &'3-+,%(B" 8" '>&-*E-?" ?2*%(B" 3@" &+%(+" D+" +,-" ?-)-(I-"
*-&-D*I,j"?-E-1'A3-(+"1D>'*D+'*@MJXJFNG",@?-*D>D?O"8"ID3-"DI*'&&"+,*--"A-*&'(&"+,-*-"
/,'">-ID3-" %("3@"3%(?"A'%(+&"')"*-)-*-(I-"+,D+"ID11-?"3-">DIC"2(I-D&%(B1@"+'"I-*+D%("
%&&2-&O"$-(CD+",D?"+/'"&'(&"D(?"D"?D2B,+-*O"#11"/-*-"B*D?2D+-&"D(?"-3A1'@-?O"F%E%(B"%("
+,-" &D3-" D*-D"/D&" C2AA2"/,'",D?" +*--" &'(&O"R-" &2II--?-?" %(" -?2ID+%(B" '(%@" '(-O"R-"
1%E-?" %(" D" *-(+-?" ?/-11%(BO;D*2AAD(" ,D?" " +/'" ?D2B,+-*&" D(?" '(-" &'(O" R-" /D&" &-3%c"
-3A1'@-?O" H'21?" ('+" -?2ID+-" D(@" ')" +,-3" >-ID2&-" ')" A*'E-*+@G" D(?" ,D?" ('" *-B21D*"
?/-11%(B"A1DI-O"WD&"%+"('+"A'&&%>1-")'*",%3"+'"3-*-1@"B%E-"D"('*3D1"1%)-"+'",%&"'))&A*%(B"
D(?" ('+" D(" 2(*-D1%&+%I" '*" -f+*D'*?%(D*@" '(-e" #" *-D&'(D>1-" 1%)-&AD(G" D(" 'II2AD+%'(" +,D+"
/'21?" A*'E%?-" +,-3" >D&%I" I'3)'*+&" D(?" B''?" ,-D1+," ID*-e" U,%&" %&" '2*" ?*-D3" ')" D"
?-E-1'A-?"8(?%DO
!!"
4-*"IDA%+D" %(I'3-"ID(" %(?%ID+-" +,-"/-D1+," %("+,-" ,D(?&"')"A-'A1-O"4-*"IDA%+D" %(I'3-"
?'&-"('+" %(?%ID+-"+,D+" +,-@"D11",DE-"+,-"&D3-"D3'2(+"')"3'(-@"O8+" %&" +,-"DE-*DB-"')" +,-"
*%I,"D(?"A''*O"U,-"&D3-"A-*"IDA%+D")%B2*-"D1&'"?'-&"('+"%(?%ID+-"+,-"D3'2(+"')"/-11">-%(B"
/%+,%("""DI'2(+*@"'*"-E-("/%+,%("D"&+D+-"'*"*-B%'(O"_'*"A2*A'&-&"')"B1'>D1"I'3AD*%&'(&G"D"
(-/" AD*D3-+-*G" &2I," D&" A2*I,D&%(B" A'/-*" AD*%+@G" %&" ('/D?D@&" >-%(B" 2&-?O" H'3A1-f"
3'?-1&"D*-"D1&'">-%(B"?%&I2&&-?G"?->D+-?"D(?"2&-?"D&"%(?%I-&"')",23D("?-E-1'A3-(+O"#11"
')"+,-3"'(1@"A*-&-(+"I-*+D%(")DI-+&"')" 1%E%(B"I'(?%+%'(&O""U,-&-"&+D+%&+%I&"?'"('+"%(?%ID+-"
+,-"1'(Bc+-*3"&2&+D%(D>%1%+@"')"+,-"b2D1%+@"')"1%)-"DI,%-E-?">@"A-'A1-O"
4-'A1-"D(?"?-E-1'A3-(+"
0D(@" AD*D3-+-*&" D*-" 2+%1%d-?" +'" %(?%ID+-" ,'/" /-11" A-'A1-" D*-" )-?g" +,-%*"
'E-*D11"(2+*%+%'(D1"&+D+2&g"+,-"DED%1D>%1%+@"')"B''?"(2+*%+%'("?2*%(B"ED*%'2&"A,D&-&"')"+,-%*"
B*'/+,"D(?"1%E-&g"+,-"DE-*DB-"1%)-"-fA-I+D(I@g"+,-"%()D(+"3'*+D1%+@"*D+-g"+,-"DED%1D>%1%+@"')"
&D(%+D+%'(g"+,-"DED%1D>%1%+@"')"?*%(C%(B"/D+-*"D(?"%+&"b2D1%+@g"+,-"b2D(+23"')"1%E%(B"&ADI-g"
>*'D?" ID+-B'*%-&" ')" ,23D(" ,D>%+D+g" +,-" %(I%?-(I-" ')" ED*%'2&" ?%&-D&-&G" ?@&)2(I+%'(&G"
?%&'*?-*&" '*" ?%&D>%1%+%-&g" +,-" DII-&&" +'" 3-?%ID1" )DI%1%+%-&g" 1%+-*DI@g" +,-" DED%1D>%1%+@" ')"
&I,''1&" D(?" -?2ID+%'(D1" )DI%1%+%-&g" ED*%'2&" 1-E-1&" ')" &C%11&" +'" I'A-" /%+," )D&+cI,D(B%(B"
-I'('3%I"D(?"&'I%D1"?-3D(?&g"D(?"&''(O"
:(-" ID(" %(I12?-" 3D(@" '+,-*" %(?%ID+'*&" ')" +,-" b2D1%+@" ')" 1%)-O" <+%11" +,-*-" %&" D"
(DBB%(B"/'**@"/,-("/-"DAA1@"+,-"+D1%&3D("A*-&I*%>-?">@"6D(?,%O"6D(?,%a%Y&"&+*%C%(B1@"
&%3A1-" I*%+-*%'(" /D&" +,D+" -E-*@" DI+%'(" A*'A'&-?" '*" I'(+-3A1D+-?G" &,'21?" %(" %+&"
%3A1-3-(+D+%'("/%A-" +,-" +-D*&" ')" D" A''*" D(?" ?'/(+*'??-(" A-*&'(O"R-" -3A,D&%d-?" +,D+"
'(1@" /,-(" /-" ,DE-" /%A-?" +,-" +-D*&" )*'3" +,-" )DI-&" ')" D11G" ,DE-" /-" +*21@" D**%E-?" D&" D"
(D+%'(O"
5E-(" /,-(" '(-" DAA1%-&" +,-" 32I," 1-&&" &+*%(B-(+" .-,*2" E%D(" E%&%'(" )'*" +,-"
-1%3%(D+%'("')"%B('*D(I-G"%11%+-*DI@G"A'E-*+@G"?%&-D&-"D(?"%(-b2D1%+%-&"%("'AA'*+2(%+%-&G"+,-"
+D&C"')"*-D1%d%(B"&2I,"D"E%&%'("+,*'2B,"+,-"3%&&%'("D"+,D+"/'21?")'11'/"DAA-D*&"?%))%I21+O"
U,-@"?%?"('+"DAA-D*"?%))%I21+"D+"+,-"+%3-"')"'2*"%(?-A-(?-(I-O"0'&+"8(?%D(&"/-*-"%B(%+-?"
>@" +,-" E%&%'(" ')" '2*" +*@&+"/%+," ?-&+%(@O"#*-"/-" D&" (D+%'(" &+%11" %(&A%*-?"/%+," +,D+" E%&%'("
D)+-*")%)+@"+-D*&e"W-"D*-"('+"2(D/D*-"')"+,-"B*'/%(B"A-&&%3%&3"D(?"-E-("I@(%I%&3"/,-("
'(-"?%&I2&&-&"+,-"b2-&+%'("')"8(?%D"*-DI,%(B"+,-"&+D+2&"')"D"?-E-1'A-?"(D+%'(O"W-">-1%-E-G
!="
3'*-'E-*G"+,D+"/,%1-"DBB*-BD+-?"%(?%ID+'*&"D*-"%3A'*+D(+G!#$!0*,(!+*$!6-/(!,(+,(!$*!-:%#(1(!-!
>0(1(.*<(0@! ,$-$;,! B#$%*;$! -!6-G*)! -+0! :*+$#+;#+9! ;<.#'$6(+$! *'! -..! A+0#-+,! B%*! (E#,$! $*0-3! -+0! *'! $%(!
6-+3!6*)(!6#..#*+,!B%*!B*;.0!2(!-00(0!#+!$%(!3(-),!$*!:*6(O"U,-@"&,'21?"D11",DE-"D"&-I2*-"D(?"
-(a'@D>1-"YA*-&-(+Y"D(?"D1&'">-"%("D"A'&%+%'("+'"1''C")'*/D*?"+'"D">-++-*"h)2+2*-YO"<2I,"D"
?-E-1'A-?"8(?%D"%&"/,D+"/-"D*-"1''C%(B")'*O"
8" /D&" %(" 3@" +--(&" /,-(" 8(?%D" >-ID3-" %(?-A-(?-(+O" U,-" ,-D?3D&+-*" ')" 3@"
&I,''1"2&-?"+'"+DC-"2&"+'",-D*"+,-"(-/&"'("+,-"'(1@"DED%1D>1-"*D?%'O"W-"2&-?"+'",-D*"')"+,-"
-E-(+&" %("J-1,%G"D(?"3D(@"&A--I,-&"D(?"I'33-(+D*%-&O"8"2&-?"+'"?%&+*%>2+-"+,-"3'*(%(B"
(-/&ADA-*!4#+-6-+#" +'",'2&-,'1?&" %("XD3-&/D*D3G"+'",-1A"3@">*'+,-*"/%+,",%&"/'*CO"
W,%1-"B'%(B"'("3@"?D%1@"3'*(%(B"*'2(?"8"D1&'"*-D?"+,-"(-/&" %+-3&O":(-"*-A'*+G"/,%I,"
AD*+%I21D*1@"&+*2IC"3-G"DAA-D*-?"%("+,-",-D?@"?D@&")'11'/%(B"%(?-A-(?-(I-O"8+"/D&"D"+%3-"
')"I-1->*D+%'("D(?"+,-"I'2(+*@Y&"1-D?-*&"/-*-"BD+,-*-?"%("J-1,%G"D??*-&&%(B"+,-3&-1E-&"+'"
,-"3'3-(+'2&"+D&C&"+,D+")DI-?"+,-"B'E-*(3-(+O"#+"+,%&"3'3-(+G",'/-E-*G")D*")*'3">-%(B"
D+" I-(+-*" ')" A'/-*G" +,-" )D+,-*" ')" +,-" (D+%'(G" 3D,D+3D" 6D(?,%G" /D&" D/D@" %(" .D+,D1%-"
ID*%(B" )'*" +,-"*%'+"E%I+%3&"D(?"+*@%(B"+'",-D1" +,-"/'2(?&" %()1%I+-?">@"I'332(D1"*%'+%(BO"
R'/"3D(@"A-*&'("/'21?",DE-"&2I,"I'2*DB-"')"I'(E%I+%'(G"D&"?%?"6D(?,%"D+"D"+%3-"/,-("
+,-"(D+%'("/D&"D+",%&"I'33D(?e"8+" %&" +,D+"C%(?"')"?--A"D(?"2(&,DC-D>1-"I'33%+3-(+" +'"
+,-" /-11" k>-%(B" ')" D11" 8(?%D(&" +,D+" 2(?-*1%-" +,-" E%&%'(" ')" D" ?-E-1'A-?" 8(?%DO" <+*D+-B%I"
&+*-(B+,&"
U,-"DI,%-E-3-(+"')" %(?-A-(?-(I-"/D&"')"2+3'&+"%3A'*+D(I-"+'"2&O"U,-"
%3A1%ID+%'(&" ')" &2>&-*E%-(I-" +'" D('+,-*" A'/-*" *-3D%(" D&" D>,'**-(+" +'?D@" %(" +,%&" -*D" ')"
-I'('3%I" *D+,-*" +,D("3%1%+D*@"?'3%(D+%'(O"61'>D1%dD+%'(G"/,%I,"3-D(&" %(+-B*D+%'("/%+,"
+,-"/'*1?"-I'('3@G">*%(B&"+,-"%()12-(I-"')"-f+-*(D1")'*I-&"%(+'"'2*"&'I%-+@O"<'3-"-fA-*+&"
3D@"A'%(+"'2+"+,D+"+,-&-"D*-"-I'('3%I"'*"+*D?-"'*"3D*C-+")'*I-&"D(?"+,-@",DE-">-(-)%I%D1"
%()12-(I-" %(" +-*3&" ')" ?-E-1'A%(B" '2*" hI'*-" I'3A-+-(I%-&Y" %(" D*-D&" %(" /,%I," /-" ,DE-"
hI'3AD*D+%E-" D?ED(+DB-YO"W-" D1&'" &,D*-" +,-" E%-/" +,D+" I'3A-+%+%'(G" >'+," %(+-*(D11@" D(?"
/%+,"'+,-*"B1'>D1"A1D@-*&"/'21?">-"2&-)21" +'"3DC-"+,-"I'2(+*@"-))%I%-(+"D(?"&+*'(BO"92+"
W-"/'21?"D1&'" 1%C-" +'"A'%(+"'2+" +,D+"?-E-1'A-?"I'2(+*%-&" ,DE-"&-+"2A"&-E-*D1" ('(c+D*%))"
>D**%-*&"/,%I,"&+*%C-"D+"+,-"*''+&"')"h%?-D1Y"I'3A-+%+%'(">D&-?"'("h3D*C-+Y" )'*I-&O"U,-&-"
D*-"3'&+1@"D%3-?"D+"?-(@%(B"'AA'*+2(%+%-&"+'"'+,-*"I'2(+*%-&"+'"*-DI,"D"?-E-1'A-?"&+D+2&O"
5E-(" /,-(" '(-" I'2(+*@" A*-AD*-&" +'" I'A-" /%+," D" &-+" ')" >D**%-*&" %(+*'?2I-?" >@" +,-&-
!P"
?-E-1'A-?"I'2(+*%-&G"-%+,-*"+,*'2B,"+,-%*"'/("1D/&"'*"+,'2B,"321+%1D+-*D1"+*-D+%-&G"D"(-/"
&-+"')"I'3A1-f">D**%-*&"I*'A&"2AO"5E-("D"&%3A1-"D(D1@&%&"')"3D(@"')"+,-&-"%(+-*(D+%'(D1"'*"
B1'>D1" +*D(&DI+%'(&" %(?%ID+-&"D"32I,"?--A-*" )DI+^" +,-"I'(+%(2'2&"A*'I-&&"')"?'3%(D+%'("
'E-*"'+,-*&">@"D" )-/"(D+%'(&O" 8(?%D" ,D&" +'">-"A*-AD*-?" +'" )DI-"&2I,"&-1-I+%E-1@" +D*B-+-?"
DI+%'(&">@"3'*-"A'/-*)21"A1D@-*&"-E-("/,-("%+"+*%-&"+'"3D*I,"D,-D?"+'"*-D1%d-"%+&"E%&%'("')"
*-DI,%(B"D"?-E-1'A-?"&+D+2&O"
8&&2-&"')"(D+%'(D1"&-I2*%+@"D*-"('"1'(B-*"&%3A1-"I'(&%?-*D+%'(&"')"?-)-(I-">2+"D*-"
I1'&-1@"%(+-*+/%(-?"/%+,"3D(@"D&A-I+&"')"+*D?-G"I'33-*I-G"%(E-&+3-(+"D&"/-11"D&"I*-D+%'("
D(?"2&-"')"D"C('/1-?B-">D&-O"W,D+"DAA-D*&"+'">-"-3-*B%(B"%&"D"(-/"C%(?"')"/D*)D*-O"8)"D"
I'2(+*@"?'-&"('+" 1-D*("+'"3D&+-*"+,-&-"(-/"*-D1%+%-&"')" 1%)-G"D11"'2*"D&A%*D+%'(&"+'"-(&2*-"
+,-"A*'&A-*%+@"')"'2*"A-'A1-"3D@"I'3-"+'"(D2B,+O"U,%&"?'&-"('+"3-D(&"+,-"D?E'IDI@"')"
%&'1D+%'("'*"B'%(B">DIC"+'"I'(I-A+&"')"D"(2+&cD(?c>'1+&")'*3"')"&-1)c*-1%D(I-O"W-"(--?"+'"
D??*-&&"(-/-*"D(?"3'*-"&'A,%&+%ID+-?"I'(I-A+&"')"A*'+-I+%(B"'2*"&+*D+-B%I"%(+-*-&+&O"
8"*-I-(+1@"&A'C-"'("'2*"E%&%'("')"'2*"&-I2*%+@O"8"&D%?GYD"(D+%'("%&"3D?-"B*-D+">@"%+&"
A-'A1-G"D(?"A-'A1-"%("+2*("('(c&+*D+-B%I"&@&+-3&")'*"?-)-(I-"M&+*D+-B%I"&@&+-3&"/%11"('+">-"
DED%1D>1-NG"D"(D+%'("/%11"('+">-"D>1-"+'"?-)-(?">'+,"%+&"-I'('3%I")*--?'3"D(?"&-I2*%+@"D&"
+,%&"/%11"'(1@"A-*A-+2D+-"+,-"?-A-(?-(I-"'("'+,-*"(D+%'(&O"#"I'2(+*@Y&"&+*-(B+,"+'"A*'+-I+"
%+&"&-I2*%+@"D(?"-E'1E-"D("%(?-A-(?-(+")'*-%B("A'1%I@"%&"?-A-(?-(+"'("+,-"?-B*--"+'"/,%I,"
+,-" (D+%'(" %&" D>1-" +'" 2(?-*A%(" +,%&" /%+," &-1)c*-1%D(I-" %(" ?-)-(I-" D(?" ?-)-(I-" &@&+-3&O"
8(?%D(Y&" I'*-" I'3A-+-(I-" %(" I-*+D%(" +-I,('1'B%ID1" D*-D&" D(?" &I%-(+%)%I" +-I,('1'B%ID1"
3D(A'/-*" ,D&" +'" >-" ,D*(-&&-?O" U,*'2B," '2*" &2&+D%(-?" -))'*+&" )'*" B*'/+," ')" I'*-"
I'3A-+-(I-" D(?" &-1)c*-1%D(I-" %(" I*%+%ID1" +-I,('1'B%-&G"/-" ID(" +*D(&)'*3"'2*"(D+%'(O"W-"
,DE-" +'" *-I'B(%d-" +,D+" +-I,('1'B@" %&" +,-" +''1" +,D+" >*%(B&" )D&+-*" -I'('3%I" B*'/+," D(?"
(--?-?" %(A2+&" )'*" (D+%'(D1" &-I2*%+@O" U,-" &2II-&&)21" -fA-*%-(I-" ')" I-*+D%(" +-I,('1'B%ID1"
1-D?-*&" *-E-D1&" +,D+" /-" ,DE-" +'" ?-3D(?" )*'3" '2*" %(&+%+2+%'(&" +,-" %3A'&&%>1-G" D(?" +,-"
A'&&%>1-"/%11"-3-*B-OYl"
#"?-E-1'A-?"8(?%D"&,'21?">-"D>1-"+'"+DC-"ID*-"')"%+&"&+*D+-B%I"%(+-*-&+&"+,*'2B,"%+&"
%(+-*(D1"&+*-(B+,"D(?"%+&"D>%1%+@"+'"D?a2&+"%+&-1)"+'"+,-"(-/"*-D1%+%-&O"_'*"+,%&"%+"/%11"(--?"+,-"
&+*-(B+,"')" %+&",-D1+,@G"-?2ID+-?"D(?"A*'&A-*'2&"A-'A1-G" +,-"&+*-(B+,"')" %+&"-I'('3@G"D&"
/-11" D&" &+*-(B+," +'" A*'+-I+" %+&" &+*D+-B%I" %(+-*-&+&" ')" +,-" ?D@" D(?" %(" +,-" 1'(B" +-*3O"
lM5f+*DI+-?")*'3"+,-"7<8"(D+%'(D1"&-I2*%+@"1-I+2*-"!\\]G?-1%E-*-?">@"#O4O[O"#>?21"CD1D3
!T"
+'"+,-"3-3>-*&"')"7<8"'("!="?-I-3>-*G"!\\]ga'2*(D1"')"+,-"2(%+-?"&-*E%I-"%(&+%+2+%'("')"
8(?%DG"E'1"Hmm$8G"('"Q=]G:I+'>-*c?-I-3>-*"!\\]NO!
I;[email protected]<D;>!0>!0!79B;!>=B;6<=@!9J!=@;!60=D96"
8("+,%&">''C"/-")'I2&"'("+,-"+-I,('1'B%ID1" %3A-*D+%E-&" )'*"8(?%D"+'"?-E-1'A",-*" %(+-*(D1"
&+*-(B+,&G"C--A%(B"%("3%(?"+,*--"?@(D3%I"?%3-(&%'(&^"
iiiU,-"A-'A1-"
iiiU,-"'E-*D11"-I'('3@"
iiiU,-"&+*D+-B%I"%(+-*-&+&O"
U,-&-"+-I,('1'B%ID1"%3A-*D+%E-&"D1&'"+DC-"%(+'"DII'2(+"D"h)'2*+,Y"?%3-(&%'(G"+%3-G"D(?"D("
'))&,''+" ')" 3'?-*(c?D@" ?@(D3%&3" %(" >2&%(-&&G" +*D?-G" D(?" +-I,('1'B%ID1" +,D+" 1-D?&" +'"
I'(+%(2D11@"&,%)+%(B"+D*B-+&O"W-">-1%-E-"+,D+"+-I,('1'B%ID1"&+*-(B+,&"D*-"-&A-I%D11@"I*2I%D1"
%("?-D1%(B"/%+,"+,%&")'2*+,"?%3-(&%'("2(?-*1@%(B"I'(+%(2'2&"I,D(B-"M')"+,-"D&A%*D+%'(&"')"
A-'A1-G"')"+,-"-I'('3@"%("+,-"B1'>D1"I'(+-f+G"D(?"')"+,-"&+*D+-B%I"%(+-*-&+&NO"
U,-"A*'B*-&&"')"+-I,('1'B@"1%-&"D+"+,-",-D*+"')",23D(",%&+'*@G"D&"%112&+*D+-?"%("+D>1-"
!O!O"U-I,('1'B%ID1" &+*-(B+,&"D*-" +,-"C-@" +'"I*-D+%(B"3'*-"A*'?2I+%E-"-3A1'@3-(+" %("D("
%(I*-D&%(B1@"I'3A-+%+%E-"3D*C-+"A1DI-"D(?"+'"I'(+%(2D11@"2AB*D?-",23D("&C%11&O"W%+,'2+"D"
A-*ED&%E-"2&-"')" +-I,('1'B%-&G"/-"ID(('+"DI,%-E-"'E-*D11"?-E-1'A3-(+"')"'2*"A-'A1-" %("
+,-" @-D*&" +'"I'3-O"U-I,('1'B@" %&" %3A'*+D(+"D&"/-11" %("I'3>D+%(B" +,-"?D(B-*&"A'&-?">@"
-f%&+%(B"D(?"(-/-*")'*3&"')"?%&-D&-&O"
U,-"?%*-I+" 1%(CDB-&"')" +-I,('1'B@" +'"+,-"(D+%'(Y&" &+*D+-B%I"&+*-(B+,&"D*-">-I'3%(B"
3'*-"D(?"3'*-"I1-D*G"-&A-I%D11@"&%(I-"+,-"1D&+"?-ID?-O"8(?%DY&"'/("&+*-(B+,"%("D"(23>-*"
')"I'*-"D*-D&"&+%11"A2+&" %+" %("D"A'&%+%'("')"*-D&'(D>1-"&+*-(B+,"%("B-'cA'1%+%ID1"+-*3&O"#(@"
(D+%'("D&A%*%(B" +'">-I'3-"D"?-E-1'A-?"'(-" (--?&" +'",DE-"&+*-(B+,&" %(" ED*%'2&" &+*D+-B%I"
+-I,('1'B%-&" D(?" D1&'" +,-" D>%1%+@" +'" I'(+%(2D11@" 2AB*D?-" +,-3" +,*'2B," %+&" '/(" I*-D+%E-"
&+*-(B+,&O"
_'*" A-'A1-c'*%-(+-?" DI+%'(&" D&" /-11G" /,-+,-*" )'*" +,-" I*-D+%'(" ')" 1D*B-*c&ID1-"
A*'?2I+%E-"-3A1'@3-(+"'*")'*"-(&2*%(B"(2+*%+%'(D1"D(?",-D1+,"&-I2*%+@" )'*"A-'A1-G"'*")'*"
>-++-*"1%E%(B"I'(?%+%'(&G"+-I,('1'B@"%&"+,-"'(1@"E%+D1" %(A2+O"_*'3"+,-"-D*1@"?%&I'E-*%-&"')"
mc*D@"D&"D"?%DB('&+%I"+''1"'*"A-(%I%11%("D&"D("D(+%>%'+%I"'*"A*-E-(+%E-",-D1+,"ID*-G"/-",DE-"
I'3-"D"1'(B"/D@O
!Q"
U#9F5"!O!"
6*'/+,"')"+-I,('1'B%-&"D(?",23D("%3ADI+"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
#AA*'f%3D+-""""""""""""""""""8(('ED+%'(n"H'(&-b2-(I-nX-D&'("
U%3-"MS-D*&""""""""""""""""""""9*-DC+,*'2B,"
4*-I-?%(B"!\\VN"
!KKKKK" 0DC%(B"D(?"2&%(B" 5f+-(?%(B",23D("
6-D*")'*",2(+%(B""""""""""""""""""""""""""""""""""""""""""""HDAD>%1%+%-&"
TKKKK"""""""""""""""""""""""""""0DC%(B"D(?"2&%(B"
W-DA'(&"
PQKK" 9'D+&"D(?"&D%1>'D+&"
VKK"""""""""""""""""""""""""""""U,-"I1'ICG"I'3AD&&" X-?2I%(B"D(?"n'*"
#(?"'+,-*"3-D&2*-3-(+" 3DC%(B"3D(2D1"
8(&+*23-(+&" /'*C"-D&%-*"
P]K" 0-I,D(%ID1"ID1I21D+'*&"
!\K""""""""""""""""""""""""""""""*D%1*'D?&n2&%(B"I'D1" )DI%1%+D+%(B"D(?n'*"
#(?"'%1")'*"-(-*B@" 3DC%(B"3-(+D1"/'*C"
5D&%-*"
!]K"""""""""""""""""""""""""""""""-1-I+*%I%+@"
!TK""""""""""""""""""""""""""""""%3DB-"D(?"&'2(?"
X-A*'?2I+%'(" %3A*'E%(B"I'3)'*+"
#(?n'*"&A--?"')"
U*D(&A'*+D+%'("
!KK"""""""""""""""""""""""""""""+-1-I'332(%ID+%'(&n"fc*D@&"
\Q"""""""""""""""""""""""""""""""D%*I*D)+" %(I*-D&-?"&A--?"
#(?n'*"DED%1D>%1%+@"
:)"+-1-c"
I'332(%ID+%'(&"
VK"""""""""""""""""""""""""""""""D2+'3'>%1-&"D(?"*'D?&
!]"
LK""""""""""""""""""""""""""""""""3D&&cA*'?2I-?"I,-3%ID1"4*'?2I+&"
QQ" .2I1-D*"/-DA'(&n"5(-*B@"
QK""""""""""""""""""""""""""""""""H'3A2+-*&""""""""""""""""""""""""""""""""""""""""%3A*'E%(B"+,-"o2D1%+@"')"D*+&"D(?"5(+-*+D%(3-(+"
TQ""""""""""""""""""""""""""""""""0D&&cA*'?2I-?",'3-" 83A*'E%(B"3D+-*%D1"#AA1%D(I-&"""""""""""""""""""""""""""""""""""""""""b2D1%+@"')"1%)-"
TK""""""""""""""""""""""""""""""""5f+-(&%E-"2&-"')")-*+%1%d-*&n":*D1"I'(+*DI-A+%E-&"
PQ""""""""""""""""""""""""""""""""FD&-*&"PK""""""""""""""""""""""""""""""""U,-"3''("1D(?%(Bn"
U%&&2-&"D(?"'*BD("U*D(&A1D(+&"
=K""""""""""""""""""""""""""""""""U,-"HU"MH#U"'*">'?@N"<ID("
!K""""""""""""""""""""""""""""""""6-(-+%ID11@"-(B%(--*-?""""""""""""""""""""8(I*-D&-?"41D(+&n8(+-*(-+"""""""""""""""""""""""""""""""""C('/1-?B-">D&-"D(?"
#AA1%ID+%'(&!
&0-<$(0!')*6H!I*)(:-,$#+97!D.-++#+9!!J!,$)-$(93!'*)!$%(!KL,$!:(+$;)3@!23!M<3)*,!N=O-/)#+0-/#,!!P')((!<)(,,7!-!0#1#,#*+!*'!O-:6#..-+7!A+:=7!Q(B!R*)/S"
U,-*-" D*-" 3D(@" &A-I%D1%d-?" D(?" D))'*?D>1-" ?%DB('&+%I" +''1&G" (-/" 3-?%I%(-&" /%+,"
(-B1%B%>1-" &%?-" -))-I+&g" D(?" +,-*-" D*-" 3D(@" A'&&%>%1%+%-&" '(" +,-" ,'*%d'(" /%+," +,-"
-3-*B-(I-"')"3'1-I21D*">%'1'B@O"U,-"D>&-(I-"')"B*-D+-*"+-I,('1'B%ID1"%3A-+2&"I'21?"1-D?"
+'" 1'/-*" A*'?2I+%E%+@" D(?" /D&+DB-" ')" A*-I%'2&" (D+2*D1" *-&'2*I-&O" #I+%E%+%-&" /%+," 1'/"
A*'?2I+%E%+@"'*"1'/"ED12-"D??%+%'(G"%("+,-")%(D1"D(D1@&%&G",2*+"+,-"3'&+O"
[2&+" D&" %(" D(@" '+,-*" ,23D(" DI+%E%+@G" +,-*-" /'21?" D1&'" >-" &'3-" &%?-" -))-I+&"
DII'3AD(@%(B" +,-" DAA1%ID+%'(" ')" &'3-" +-I,('1'B%-&O"U,-&-" (--?" +'" >-" *-3'E-?^" AD*+1@"
+,*'2B,"D">-++-*"C('/1-?B-"')"D11"'2*"A-'A1-"D(?"AD*+1@"+,*'2B,"+-I,('1'B%ID1"&'12+%'(&O"
U,-*-"%&"D"+-(?-(I@"('/D?D@&"+'",%B,1%B,+"+,-"A*'>1-3&"')"+-I,('1'B@G"/,%I,">'*?-*&"'("
?-)-D+%&3O" 5(E%*'(3-(+D1" A'112+%'(" ?'-&" +-(?" +'" %(I*-D&-" /%+," 2(>*%?1-?" +-I,('1'B%ID1"
B*'/+,O" " H,%(D" %&" D" +-11%(B" -fD3A1-O" S-+G" +-I,('1'B@" ID(" D1&'" A*'E%?-" D" I'&+c-))-I+%E-"
&'12+%'("+'"A'112+%'("/,-("+,-"&D3-")DI+'*%-&"D*-"1%(C-?"+'"D"I1-D(-*"+-I,('1'B@O"
U,-" +-I,('1'B%ID1" %3A-*D+%E-&" +'" 1%)+" '2*" A-'A1-" +'" D" (-/" 1%)-G" D(?" +'" D" 1%)-" +,-@" D*-"
-(+%+1-?"+'G"%&"D("%3A'*+D(+"+,-3-"/,%I,"%&"-1D>'*D+-?"%("D11"I,DA+-*&"')"+,%&">''C(
!L"
X-&-D*I,-?")'*"'E-*"+/'"?-ID?-&O"U,-"-I'('3%I"%3A-*D+%E-&")'*"DIb2%*%(B"+-I,('1'B%ID1"
&+*-(B+,&"?'"('+"/D**D(+"*-A-+%+%'(",-*-O"R'/-E-*G"+,%&"I'((-I+%'(",D&!+*$">-I'3-"D"AD*+"
')" +,-" +,%(C%(B" ')"3D(@" %(" A'&%+%'(&" ')" 1-D?-*&,%AG"/,-+,-*" %(" B'E-*(3-(+G" %(?2&+*@" '*"
-1&-/,-*-O"#(" 8(?%D"D&A%*%(B" +'">-I'3-"D"3Da'*"-I'('3%I"A1D@-*" %(" +-*3&"')" +*D?-"D(?"
%(I*-D&-" %(" 6J4" ID(('+" ?'" %+" '(" +,-" &+*-(B+," ')" +2*(C-@" A*'a-I+&" ?-&%B(-?" D(?" >2%1+"
D>*'D?"'*"'(1@"+,*'2B," 1D*B-c&ID1-" %3A'*+&"')"A1D(+O"U,-" 1%(CDB-&">-+/--("+-I,('1'B%-&"
D(?" -I'('3%I" &+*-(B+,&" ,DE-" >--(" /-11" 3DI,%(-*@G" -b2%A3-(+" D(?" C('/" ,'/O" 5E-("
/,%1-">-%(B"D1%E-"+'"+,-"&,'*+c+-*3"*-D1%+%-&G"3-?%23cD(?"1'(Bc+-*3"&+*D+-B%-&"+'"?-E-1'A"
I'*-" +-I,('1'B%ID1" &+*-(B+,&" /%+,%(" '2*" %(?2&+*@" D*-" E%+D1" )'*" -(E%&%'(%(B" D" ?-E-1'A-?"
8(?%DO" :2*" &+2?%-&" %(?%ID+-" +,D+" +,-" E%&%'(" )'*" +,-" (D+%'(" %&" '(1@" A'&&%>1-" +,*'2B,"
%?-(+%)@%(B"&2I,"I'*-"&+*-(B+,&"D(?">2%1?%(B"'("+,-3O"
U,2&G" 1''C%(B"D+"D11" )'2*"?%3-(&%'(&G" %O-O" M!N"A-'A1-G" M=N"-I'('3@G" MPN" &+*D+-B%I"
&+*-(B+,&"D(?"MTN"D>%1%+@"+'"&2&+D%("D(?"%3A*'E-"'("+,-&-"'E-*"E-*@"1'(B"A-*%'?&"')"+%3-"%("
+,-" )2+2*-c" %+"/'21?" DAA-D*" +,D+"3D&+-*%(B" ')" +-I,('1'B%-&" %&" +,-" C-@" +D&C" +'"/,%I," +,-"
I'2(+*@" D(?" %+&" A-'A1-" ,DE-" +'" B%E-" %3A'*+D(I-O"U,%&" ID(" >-" I'(&%?-*-?" +'" >-" +,-" E-*@"
-&&-(I-"')"?-E-1'A3-(+O"#("8(?%D"D&A%*%(B"+'"D"?-E-1'A-?"&+D+2&"32&+",DE-"D"+-I,('1'B@"
E%&%'(O"U,-"?@(D3%I&"')"+,%&"E%&%'("D*-"?%&I2&&-?"D(?"?-E-1'A-?"%(")2*+,-*"I,DA+-*&O!
(!?1.1-6!%-#!*+$!$'-6-2:"
#"U-I,('1'B@"$%&%'(" )'*"D"(D+%'("3D@">-"I'(&+%+2+-?">@" %(+-B*D+%(B"?D+D"'("+,-"
'E-*D11"-I'('3@"/%+,"&'I%D1"?%3-(&%'(&"')"?-E-1'A3-(+O"U,-">DICB*'2(?"')"+,-"U8_#H"
&+2?@"/D&"&-E-*D1"&+2?%-&"?'(-"/%+,%("8(?%DG"&'3-"?-+D%1-?"D(?"&'3-"D1*-D?@")'I2&-?"'("
%("+,-"A1D("?'I23-(+&O"U,-"D2+,'*&"D1&'",D?"+,-">-(-)%+"')"?%&I2&&%'(&"/%+,"D"(23>-*"')"
A-*&'(&"+'"2(?-*&+D(?"+,-"*-D1%+%-&G"I'(&+*D%(+&"D(?"D&A%*D+%'(">-,%(?"ED*%'2&"A*'a-I+%'(&"
')" B*'/+," *D+-&O" 8(" D??%+%'(" 2(?-*1@%(B" +,-" 'E-*D11" -I'('3%I" %(?%ID+'*&" D*-" &-E-*D1"
D&&23A+%'(&" D>'2+" %3A1-3-(+D+%'(" /,%I," %(E'1E-" %(E-&+3-(+G" -(D>1%(B" D?3%(%&+*D+%E-G"
)%&ID1"'*"1-BD1"3-D&2*-&G"D>%1%+@"+'"3'>%1%d-",23D("*-&'2*I-&"D(?"&'"'(O"8+"%&"('+"A'&&%>1-"
+'"-(E%&%'("D11"+,-"?-+D%1&"')"%3A1-3-(+D+%'(O"#"E%&%'(G"%(")DI+G"&,'21?"('+">-"D")-D&%>%1%+@"
*-A'*+G"a2&+"D&"%+"ID(('+">-"D"3-*-"&1'BD("'*"A1D@"')"/'*?&O"92+"%+"/'21?">-"/'*+,/,%1-"+'"
-fD3%(-" A*'a-I+%'(" )'*" D" )-/" -I'('3%I" %(?%ID+'*&" ')" D" ?-E-1'A-?" 8(?%D" DBD%(&+" +,%&
!V"
>DICB*'2(?O"U,-"D2+,'*&"D*-"B*D+-)21" +'"UO;"9,D23%C"D(?",%&" +-D3" )'*"A*'E%?%(B" +,-3"
/%+,"D"(23>-*&"')"D(D1@&-&"D(?"?-*%E-?"%()'*3D+%'(O"
8("!\\T"+,-"/'*1?"6J4"/D&"D>'2+"p=Q==T">%11%'(O"#&&23%(B"D"B*'/+,"*D+-"')"=OQ"
A-*"I-(+")'*"!\\Qc=KKKG"P"A-*"I-(+")'*"=KKKc=K!K"D(?"POQ"A-*"I-(+")'*"=K!Kc=K=KG"/-"ID("
A*'a-I+" /'*1?" 6J4" +'" >-" pQQTQP" >%11%'(O" U,-" )D&+-*" B*'/+," *D+-&" A*'a-I+-?" )'*" +,-"
>-B%((%(B" ')" +,-" +/-(+@c)%*&+" I-(+2*@" D*-" >D&-?" '(" +,-" DAA-D*D(I-" ')" (-/1@" -3-*B%(B"
)D&+cB*'/%(B" -I'('3%I&" M%(I12?%(B" +,D+" ')" 8(?%DNO" U,-" *-I-(+" A*'>1-3&" " " " " " " D))-I+%(B"
<'2+,c-D&+"#&%D(" -I'('3%I&"/'21?" I,D(B-" +,-&-" )%B2*-&g" ,'/-E-*G" +,-" 'E-*D11" A'%(+-*&"
E%&cqcE%&"8(?%DY&"?-E-1'A3-(+"/'21?"&+%11">-"ED1%?O"
W'*1?/%?-G"I'(&%?-*%(B"I'2(+*%-&"/%+,"6J4"')"p!KK">%11%'("D(?"D>'E-"+'">-"
I'2(+*%-&"%("+,-"9%B"F-DB2-G"8(?%D"/D&"D1*-D?@"%("+,%&"F-DB2-"?2*%(B"+,-"!\VK&"D1'(B"/%+,"
H,%(DG"0-f%I'"D(?"'+,-*&O"U,-"I'11-I+%E-"6J4"')"+,-&-"(%(-+--("I'2(+*%-&" %("!\VK"/D&"
D>'2+cpV!]V">%11%'("8(?%DY&"&,D*-"/D&"'(1@"!OLT"A-*"I-(+O"8("+,-"?-ID?-"') +,-"!\\K&G+,-*-"
D*-"(-/"-(+*D(+&"D(?")-/"-f%+&G">*%(B%(B"+,-"9%B"F-DB2-"I'2(+*%-&"M9FHN"+'"+/-(+@c")'2*O"
8("!\\KG"+,-"I'11-I+%E-"6J4"')"+,-"9FH&"/D&"D>'2+p!L]=Q>%11%'(G">2+"8(?%DY&"&,D*-"/D&"
!OTT"A-*"I-(+"'(1@G"D" )D11"I'3AD*-?"+'">-++-*"DI,%-E-*&" %("+,-"/'*1?O"8("!\\TG" +,-"9FH&"
/-*-" +/-(+@c-%B,+" %(" (23>-*" %(I12?%(B" U,D%1D(?G" <'2+," #)*%ID" D(?" U2*C-@" /%+,"
I'11-I+%E-"6J4"')"p==PTV"""!!">%11%'("8(?%DY&"&,D*-")-11"+'"!OP!"A-*"I-(+O!
I%EKL!C(&!
M9B.,!N$)"
S-D*&" 7<p"9%11%'("
!\\Q" =QVQTOKV"!\\V" =LVT=OK="=KKK"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""=\=Q!OQ="=KK=" P!KP=O\T"=KKQ" PP\!KOQP"=KKL"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""PQ\LQO]V"=K!K" P\P!!O]K"=K!Q"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""T]]V\OVQ"=K=K" QQTQ=O\K"
.'+-H!-,,;6#+9!9)*B$%!)-$(!*'!K=T!<()!,(+$!'*)!LUUT8KVVV7!W!<()!,(+$!'*) KVVV8!KVLV!-+0!W=T!<()!,(+$!'*)!KVLV8KVKV=!X*;)$(,3H!C=5=!Y%-;6#/7!M(+#*)!&01#,()7!
X*+'(0()-$#*+!*'!A+0#-!A+0;,$)3=
!\!
I%EKL!C(O!
ED<!.;0<-;!9J!=@;!:9B.,!;79691G!
X*;+$)#(,!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:*..(:$#1(!N4D!!!!!!!!!!!!!!!!!!!!!!!!!,%-)(!*'!A+0#-"M7<p"3%11%'(N"""""""""""""""""""""""""""""""""""MrN"
!\VK"""M+'+D1"!\N"
8(?%DG"H,%(DG"9*Dd%1G"V!]V!\K""""""""""""""""""""""""""""""""""""""!OLT"0-f%I'G"#*B-(+%(DG"<D2?%"#*D>%DG"<AD%(G"8+D1@G"7O;OG"#2&+*D1%DG"[DAD(G"HD(D?DG"7O<OG".-+,-*1D(?&G"_*D(I-G"9-1B%23G"</-?-(G"6-*3D(@G"</%+d-*1D(?"
.-/"5(+*D(+&"5f%&+&"8(?'(-&%DG"#*B-(+%(DG"!L=TQLK""""""""""""""""""""""""""""""""""""""""!OTT"8*D(G"<D2?%"#*D>%D"J-(3D*CG"#2&+*%DG";'*-DG".'*/D@G"_%(1D(?"
!\\T" MU'+D1"=VN".-/"5(+*D(+&""""""""""5f%&+&"U,D%1D(?G"8*D("""""""""""""""""""==PTLL=]"""""""""""""""""""""""""""""""""""""""!OP!"<'2+,"#)*%IDG"<D2?%"#*D>%DG"#*B-(+%(DG"U2*C-@"=KKK"""MU'+D1"PPN".-/"5(+*D(+&"4'1D(?G"0D1D@&%DG"=Q\TPQQ=L"""""""""""""""""""""""""""""""""""""!O]V"4'*+2BD1G"8&*D-1G"_%(1D(?"=K!K" MU'+D1"PVN".-/"5(+*D(+&"4,%1%AA%(-&G"H'1'3>%DG"PTVP!]P]OQ"""""""""""""""""""""""""""""""""""=O]="4DC%&+D(G"8*D(G"H,%1-".-/"5(+*D(+&"4-*2G"R2(BD*@G"$-(-d2-1DG"Q=TVVQ]VO=""""""""""""""""""""""""""""""""""TOKL"6*--I-!
D-*$B!'-56*#1$.!41*+!EF"!-%!!G@HH!,6!&60!&,-?$!&#$!'-6.10$#$0!'-56*#1$.!16!*+$!Y#9!Z(-9;(=!X*;+$)3!C=5=!Y%-;6#/7!M(+#()!&01#,()7!XAA
=K"
H'(&%?-*%(B"+,-"A*-&-(+"+*-(?&"')"-I'('3%I"B*'/+,G"%+"%&"A*'a-I+-?"+,D+">@"=KKK"+,-*-"
/%11">-"PP"9FH&"D(?"8(?%DY&"&,D*-"ID("*%&-"+'"!O]V"A-*"I-(+g"D(?">@"=K=K"+,-*-"/'21?">-"
T=" 9FH&" /%+," 8(?%DY&" &,D*-" A*'a-I+-?" D+" TOKL" A-*" I-(+" " M&--" +D>1-" !OPNO" _%B2*-" !O!"
%(?%ID+'*&",'/"+,%&"3D*I,"I'21?"A*'I--?O"
5E-(" +,%&" A*-1%3%(D*@" -f-*I%&-" /'21?" %(?%ID+-" +,-" I,D11-(B-&" >-)'*-" 2&O" U,-"
D&&23-?"B*'/+," *D+-&" D*-" ('+" %3A'&&%>1-" +'" DI,%-E-G" ('+" D*-" +,-@" -D&@O"U'" DI,%-E-" +,-"
)'2*+,"A'&%+%'("3D@"3-D("3'*-"I,D11-(B%(B"B*'/+,"*D+-&"')"!K"A-*"I-(+c!P"A-*I-(+"%("+,-"
1D+-*" @-D*&G" D&" %(?%ID+-?" %(" )%B2*-" !O!O"U,-" *-I-(+" A*'>1-3&" )DI%(B" +,-"<'2+,-D&+"#&%D("
-I'('3%-&"ID(">-"&--("D&"D"(-/-*"I,D11-(B-"D*-"-E-("D&"D"B*-D+-*"'AA'*+2(%+@O"
W-">-1%-E-"+,D+"/-"D&"D"(D+%'("&,'21?"D%3"+'"*-DI,"D+"1-D&+"+,-")'2*+,"A'&%+%'(">@"
+,-"@-D*"=K=KO"U*2-G"+,-*-"D*-"3D(@" )DI+'*&"/-",DE-"+'"+DC-"%(+'"DII'2(+O"_'*"%(&+D(I-G"
'+,-*"I'2(+*%-&"3D@"A-*)'*3">-++-*"+,D("%&"D(+%I%AD+-?O"#1&'G"D&"/-"B*'/G"I'3A-+%+%'("%("
%(+-*(D+%'(D1"+*D(&DI+%'(&"M>-"%+" %("+*D?-"'*")%(D(I-"'*"+-I,('1'B@"'*"D(@"'+,-*N"3D@"+DC-"
?%))-*-(+" )'*3&" +,D(" +,'&-G" /,%I," -f%&+" +'?D@O"7()D%*" B*'2A%(B" DBD%(&+" 8(?%D(" %(+-*-&+&"
ID(('+">-"+'+D11@"*21-?"'2+"?-&A%+-"&-E-*D1"321+%1D+-*D1"'*">%1D+-*D1"D**D(B-3-(+&O"92+"+,-(G"
B*'/%(B"2A"D(?">-%(B"I'2(+-?"D*-"('+"-D&@"+D&C&O"8+" %&" +,-*-)'*-" %3A-*D+%E-"+,D+" +'"C--A"
2A" '2*" B*'/+," /-" 3D(DB-" '2*" -fA'*+&" D(?" %3A'*+&" D(?" -(&2*-" '2*" -(?'B-('2&"
I'3A-+%+%E-" &+*-(B+,&" /%+,%(" +,-" DB*%I21+2*D1G" %(?2&+*%D1" D(?" &-*E%I-" &-I+'*&O" #11" +,-&-"
,DE-" +'" >-" DI,%-E-?" /%+,'2+" I'3A*'3%&%(B" '(" '2*" A*%3D*@" B'D1^" +,-" >-(-)%+&" ')" /-11"
>-%(B"A-*I'1D+%(B"?'/("+'"D11"'2*"A-'A1-"D(?"D&"&A--?%1@"D&"A'&&%>1-O"F-+"2&",DE-"D"1''C"D+"
,'/ +,-"?%&+*%>2+%'("')"/-D1+,"3D@"DAA-D*O"UD>1-"!OT"A*'E%?-&"D"A'&&%>1-"&I-(D*%'O"
.D+2*D11@G"/-"(--?"+'"1''C"D+"A'A21D+%'("B*'/+,O"W'*1?"A'A21D+%'("%&"-&+%3D+-?"+'"
>-"L">%11%'(">@"+,-"@-D*"=KKK"D(?"A*'a-I+-?"+'">-"\OT">%11%'(">@"+,-"@-D*"=K=KO"8("8(?%D"+,-"
I2**-(+"A'A21D+%'("B*'/+,"*D+-"')"!OV"A-*"I-(+"ID(">-"-(E%&%'(-?"D&"I'3%(B"?'/("+'"!OQ"
A-*"I-(+">@"=K=KO"8(E-&+3-(+"%("A*%3D*@"-?2ID+%'("D(?">D&%I",-D1+,"ID*-")DI%1%+%-&"%&"E%+D1"
%)" +,-" *D+-" %&" +'" >-" >*'2B,+" ?'/(G" D&" %+" 32&+" >-" %)" /-" D*-" +'" DI,%-E-" +,-" E%&%'(" ')" D"
?-E-1'A-?"8(?%DO"W%+,"I-*+D%("D&&23A+%'(&"%+"%&"A'&&%>1-"+'
=!
=="
5(E%&%'(" D" A'A21D+%'(" ')" D>'2+" !O=>%11%'(" >@" =K!K" D(?" +,-*-)'*-" D" A-*" IDA%+D" 6J4" ')"
pL]=" D+" I'(&+D(+" A*%I-&" M>-%(B" pP!T]" /%+," A2*I,D&%(B" A'/-*" AD*%+@c444Ng" D(?" D"
A'A21D+%'(" ')" D>'2+" !OT" >%11%'(" >@" =K=K" D(?" A-*" IDA%+D" p!QTK" D+" I2**-(+" A*%I-&" Mp]PQQ"
/%+,"444NO"<%3%1D*1@G"?%&+*%>2+%'("')"6J4"D(?"A-*"IDA%+D"6J4"DII'*?%(B" +'"+,-" %(I'3-"
I1D&&"ID(">-"-(E%&DB-?"+'">-"D&"%("+D>1-"!OTO"
8("=K=KG"+,-"1'/-&+"!K"A-*"I-(+"/'21?"+,-(",DE-"D"A-*"IDA%+D"6J4"')"pQ]\"D(?")'*"
+,-" +'A"+-(cA-*I-(+%1-"B*'2A" %+"/'21?" >-"pTP]\G"/%+,"'E-*D11" DE-*DB-" >-%(B"p!Q]\O"U,-"
*D+%'"')"+,-"1'/-&+"+'"+,-",%B,-&+"/'21?">-"D>'2+"!^LOLg"+,-"1'/-&+"+'"+,-"DE-*DB-"!^=OLQg"
D(?"+,-"DE-*DB-"+'"+,-",%B,-&+"!^=OLVO"U,-"!\\]"*D+%'"')"+,-"1'/-&+"+'"+,-"+'A"/D&"D>'2+"
+,-"&D3-O"U,%&" %&"3'&+1@">-ID2&-"')" 1%(-D*%+@" %3A1%-?" %("+,-"A*'a-I+%'(&O"U,-&-"+@A-&"')"
*D+%'("D*-"D1&'"&%3%1D*"%("'+,-*"I'2(+*%-&O"
8+" %&" +'" >-" ('+-?" +,D+" +,-" %(I'3-" ?%&+*%>2+%'(" AD++-*(" %(" 8(?%D" >-+/--(" !\]K" D(?"
!\\T",D&!6-*" I,D(B-?" &%B(%)%ID(+1@O"W-"/'21?" 1%C-" +'" *-I'33-(?" +,D+" +,-&-" *D+%'("D*-"
)2*+,-*">*'2B,+"?'/(O"R'/"+,%&"ID(">-"?'(-"/%+,'2+"D))-I+%(B"'E-*D11"B*'/+,"*D+-&"%&"+,-"
b2-&+%'(O"5b2%+@" ID(('+" >-" DI,%-E-?"3-*-1@" >@" -I'('3%I"3-D&2*-&" '*" )%&ID1" A'1%I-&" '*"
+-I,('1'B%-&"D1'(-O"<'I%D1"D/D*-(-&&"D(?"DI+%'(" %&"D1&'"ID11-?" )'*O"R'/-E-*G" %+"(--?&"+'"
>-"*-3-3>-*-?"+,D+"+'"A*'E%?-"D(@"3-D(%(B)21"-b2%+@G"%+"%&"(-I-&&D*@"+,D+"+,-"-I'('3@">-"
&+*'(B"D(?"+,-"*%B,+"3%f"')"+-I,('1'B%-&"%&"?-A1'@-?O"
#('+,-*" I*2I%D1" ,23D(" -1-3-(+" *-1D+-&" +'" +,-" A'E-*+@" &I-(D*%'O" U,-*-" D*-" B''?"
I,D(I-&"+,D+"A'E-*+@"ID(">-")211@"-1%3%(D+-?">@"=KKLnV"2&%(B"+,-"A*-&-(+"A'E-*+@"1%(-"D&"D"
>D&-G"%O-O"p=!=OV"D+"!\\]"A*%I-&O"4-*&'(D1"?%&A'&D>1-"%(I'3-"%&"D1&'"-&+%3D+-?"+'"%(I*-D&-"
I'(&%?-*D>1@" )*'3"+,-"!\\]" 1-E-1"')"p=LVOT"+'"p!L!LO!O":+,-*" )-D+2*-&"')" +,-"-I'('3@G"
/,%I,"D*-"1%C-1@"+'"-3-*B-G"D*-^
•" H'(+%(2D11@"-fAD(?%(B"?'3-&+%I"3D*C-+
•" 5fAD(&%'("')"+,-"/DB-"-I'('3@
•" 6*'/%(B"+-(?-(I@"+'/D*?&"&-1)c-3A1'@3-(+
•" 5fAD(?%(B"%()'*3D1"-I'('3@"?-&A%+-"B*'/+,"')")'*3D1"&-I+'*
=P!
I0+.;!!!C(P!
"#$"%!Q"3"R#!&'&'!$D>=BD+-=D96!!!9J!!!N$)!!!!06,!!!!!A;B!!!70AD=0!N$)!S0779B,D6<!!!=9!!!!!!D6791;!7.0>>T"
8(I'3-"H1D&&" 6J4"Mp"9%11%'(N" 4-*"HDA%+D"6J4"MpN"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
!\\]" =KKK" =K!K" =K=K" !\\]" =KKK" =K!K" =K=K"
F'/-&+"!Kr" !=OTL" !]O!" PPOL" L\O!" !PKO!" !QVOV" =V!O\" Q]\O=".-f+"!Kr" !]OK=" =KO\" TPOV" !K=O]" !]\O=" =K]OK" P]QOL" LPVOQ"88(?"o2%(+%1-" TKOPK" Q=OV" !!KOP" =QVOL" =!=OV" =Q\OL" T]!OK" \PKOV"888*?"o2%(+%1-" Q=O]K" ]VO\" !TTOK" PPLO\" =LVOV" PP\OK" ]K!OV" !=!QOT"8$+,"o2%(+%1-" LKOPK" \=O!" !\=OT" TQ!O=" PL!O!" TQ=OV" VKPOL" !]=PO!"$+,"o2%(+%1-" !T!O\K" !VQO\" PVVOT" \!!OK" LT\O!" \!TO=" !]==OL P=LLO!"U'A"!Kr" \TO]K" !=TOK" =QVO\" ]KLOP" \\VO\" !=!VO\ =!]PO] TP]\OT":E-*D11" PPPOK" TP]OT" \!!OL= =!TKOQ" PQ!OL" T=\O=" L]!OV" !QPVOQ"
.'+-^M%N">D&-?"'("%(I'3-"?%&+*%>2+%'(&"AD++-*("'>&-*E-?"%("!\\TO"M%%N"8+"%&"'>&-*E-?"+,D+"B*'/+,"D(?"%(-b2D1%+@",DE-"E-*@"1%++1-"H'**-1D+%'( M%%%N"D11"+,-"I'2(+*%-&"D*-"&--("+'",DE-"D"3'*-"'*"1-&&"&%3%1D*"%(I'3-"?%&+*%>2+%'("AD++-*("M?D+D"'("I,%(D"%&"('+"DED%1D>1-">2+"%+"%&"2(?-*&+''?"+,D+"%(-b2D1%+@"%&"B*'/%(B"/%+,",%B,"%(I'3-"B*'/+,NO"H'2*+-&@^"UO;O9,D23%CG"<-(%'*"#?E%&'*G"H88O
•" <%321+D(-'2&"B*'/+,"""')"""">'+,"A*'?2I+%'("D(?"&-*E%I-"&-I+'*
•" 0'?-*(%d-?""""DB*%I21+2*-cb2D1%+D+%E-""""+*D(&%+%'(" """"%(""""+,-"-I'('3%I"DI+%E%+%-&"
'("""D"1D*B-"&ID1-
•" <2>&+D(+%D1""""""%(I*-D&-"""""%("""""""&3D11""""""D(?""""""""3-?%23"-(+*-A*-(-2*&,%A"""/%+,"
+-I,('I*D+&n"A*')-&&%'(D1&"1-D?%(B"-(+*-A*-(-2*&,%A
•" #(""""-*D"')")%(D(I%D1"""*-E'12+%'(
•" U-I,('1'B%ID1""""2A&2*B-""""%("3D(2)DI+2*%(BG")%(D(I-G"XjJ"%(+-B*D+%'(
•" 8(?%D"" " " " 1-D?%(B"+,-"/'*1?" %("I-*+D%("&-I+'*&G"-OBO" " "3%(-*D1c">D&-?"" " " " %(?2&+*%-&"
M&+--1G"D123%(%23G"&A-I%D1"""""D11'@&G"I-3-(+NG"D2+'3'>%1-&G"-1-I+*'(%I&G" %(?2&+*%-&"
>D&-?" '(" ,23D(" C('/1-?B-" " " D(?" &C%11&" " M&')+/D*-G" 3-?%DG" )%(D(I%D1" &-*E%I-&NG"
)''?"A*'I-&&%(BG"?*2B&""j"A,D*3DI-2+%ID1&G"-+IO
=T!
391;!>97D0.!D6,D70=9B>"
U,-"1%+-*DI@"*D+-"ID(">-"-fA-I+-?"+'"%3A*'E-""")*'3"Q="A-*I-(+"%("!\\!"+'"*'2B,1@"
VK"A-*I-(+"""%(=K=KO+,-"1%)-"""-fA-I+D(I@"""D+">%*+,"%&"""-fA-I+-?"+'"%3A*'E-"&2>&+D(+%D11@O"
U,-*-" %&" 1%C-1@" +'" >-" D" 1D*B-" A'A21D+%'(" ')" @'2(B"A-'A1-"/%+," " " D&A%*D+%'(&" ')" D" >-++-*"
1%)-&+@1-O"U,-*-"/'21?">-"D"1D*B-"*-&-*E'%*"""')"1%+-*D+-"D(?"&C%11-?"""A-*&'(&O"U,-*-"%&"D1&'"
D"B*D+-*"1%C-1%,''?"""')"3'*-"/'3-("""+DC%(B"""AD*+"%("?%*-I+"-I'('3%I"DI+%E%+%-&"%(I12?%(B"
-(+*-A*-(-2*&,%AO"
5E-("/,%1-"+,-*-"/%11">-"B*D+-*"2*>D(%dD+%'(G" +,-*-"/'21?"D1&'" >-"B*-D+-*"*2*D1c"
2*>D("%(+-B*D+%'("""-I'('3%ID11@""""D(?"""&'I%D11@O""8(+-B*D+%'("""""/%+,"+,-"/'*1?"-I'('3@"
%&"D1&'" 1%C-1@"+'">*%(B"D"(23>-*"')" " "?%))-*-(+" " "I'(&23A+%'("" "&+@1-&"D(?"ED12-"&@&+-3&O"
W%+,""" %(I*-D&%(B""""A*'&A-*%+@"+,-*-"/'21?"""D1&'">-"B*D+-*"D++-(+%'("+'""""A*'+-I+%'("""')"
-(E%*'(3-(+O"8+"""/%11">-"A'&&%>1-"+'"-(&2*-">-++-*"(2+*%+%'(D1""""D(?",-D1+,"""&+D(?D*?&""")'*"
D11"'2*"A-'A1-O"
5I'('3%I"B*'/+,G"2*>D(%dD+%'("""D(?"-fA'&2*-""""+'""" )'*-%B("ED12-"&@&+-3&"ID("D1&'"
>*%(B"%("ED*%'2&"I'()1%I+&"""D(?"""D1%-(D+%'(O"
U,-&-"D*-"D&A-I+&G"/,%I,"(--?"+'">-"D++-(?-?"+'"'("+,-"&'I%D1"D(?"I21+2*D1"A1D(-&O"
4-*,DA&"8(?%D"3D@",DE-"+'"?-E%&-"&2%+D>1-"'*BD(%dD+%'(D1"D(?"-?2ID+%'(D1"&@&+-3&"D(?"+,-"
3-?%D" +'" D??*-&&" &'I%D1" D(?" I21+2*D1" D&A-I+&" ')" 1%)-" O('" ?'2>+" '2*" D(I%-(+"/%&?'3" D(?"
+*D?%+%'(D1" C('/1-?B-" /'21?" A*'E-" %(ED12D>1-" %(" +,%&" -))'*+O" .-/-*" %()'*3D+%'("
+-I,('1'B%-&"ID(",-1A"%("IDA+2*%(B"+,%&"C('/1-?B-"D(?"-fA-*%-(I-"')"'2*"I'33'("A-'A1-"
%("ED*%'2&"AD*+&"')"+,-"I'2(+*@"D(?"3DC-"%+"DED%1D>1-"+'"'+,-*&"+'"1-D*(""")*'3O"
#&"/-"-(?-DE'2*" ""+'/D*?&"D"?-E-1'A-?"" " " 8(?%D"+,*'2B,"-I'('3%I"*-)'*3&"
D(?"'+,-*"3-D&2*-&G"%+"%&"/'*+,/,%1-"+'"*-ID11"/,D+"+,-"?%&+%(B2%&,-?"-I'('3%&+"#3D*+@D"
<-(",D&"&D%?"')"+,%&^"
U,-"I-(+*D1"%&&2-"%&"+'"-fAD(?"+,-"&'I%D1"'AA'*+2(%+%-&"""'A-("+'"A-'A1-O"8("&'")D*"D&"
I'2(+-*" k" A*'?2I+%E-" *-B21D+%'(&" D(?" >2*-D2I*D+%I" I'(+*'1&G" I'3A*'3%&-&" +,-&-"
'AA'*+2(%+%-&" +,-" *-3'ED1" ')" +,-&-" ,%(?*D(I-&"32&+" >-" &--(" +'" >-" -f+*-3-1@" %3A'*+D(+O"
92+"+,-"I*-D+%'("')"&'I%D1"'AA'*+2(%+%-&"'("D">*'D?">D&%&"*-b2%*-&"32I,"3'*-"+,D("" " +,-"
h)*--%(BY"')"3D*C-+&O" 8+" ID11&G" %("AD*+%I21D*G" )'*"-fAD(&%'("')" " -?2ID+%'(D1" " )DI%1%+%-&"D(?"
,-D1+," " ID*-" )'*" " D11M%**-&A-I+%E-" " ')" " %(I'3-&" D(?" "3-D(&NG" D(?" A2>1%I" A*'E%&%'(&" " )'*"
(2+*%+%'(D1"&2AA'*+""D(?"&'I%D1""&-I2*%+@O"8+"D1&'""?-3D(?&""D"B-(-*D1"A'1%+%ID1G"-I'('3%IG
=Q"
D(?" " &'I%D1" " A*'B*D33-" " )'*" " *-?2I%(B" " +,-" " %(-b2D1%+%-&" " +,D+" " >1'+" " '2+" &'I%D1"
'AA'*+2(%+%-&"")*'3""+,-""1%E-&""')""&'""3D(@" ,2(?*-?&""')""3%11%'(&""')""8(?%D(""I%+%d-(&O"
U,-" " E%&%'(G" D&" "/'21?" " >-" " 2()'1?-?" " %(" " +,-" " &2>&-b2-(+" " I,DA+-*&G" %&" " >D&-?" '(" " D("
D&&-&&3-(+""')""+,-""8(?%D(""A-'A1-""D(?""8(?%DY&""*-&'2*I-&O"8(?%DY& "I'*-""&+*-(B+,&""D*-"
?-*%E-?"")*'3""'2*""*-&'2*I-&i""(D+%'(D1""D(?"",23D(O"U,-""+-I,('1'B%ID1" E%&%'(""%&""D%3-?"
D+"""%(I*-D&%(B""&'I%D1""D(?""-I'('3%I""'AA'*+2(%+%-&"")'*""'2*""A-'A1-""D(?""+'"">2%1+" '(""+,-"
&+*-(B+,&" ?-*%E-?" " )*'3" " +,-3O" #" " &@3>'1%I" *-A*-&-(+D+%'(" " ')" " +,-" " E%&%'(" " 3D@" " >-"
?-A%I+-?" "D&" " %(" " )%BO!O=O"U,-" " )%B2*-" " %(?%ID+-&" ('+" "'(1@" "6J4G"A-*" " IDA%+DG" +*D?-"D(?"
&+*D+-B%I" " &+*-(B+,&" " >2+ " D1&'" " *-)1-I+&" " DI,%-E-3-(+&" " %(" " " " (2+*%+%'(G" " %(" " ,-D1+,G" %("
-?2ID+%'(G"%(""&C%11G"D(?""%(""A*'E%?%(B""ED*%'2&""&'I%D1" D(?""I21+2*D1""")'*""D11"8(?%D(&O!
"6,D0! 06,!!=@;!!:9B.,"8" " ",DE-" ">--(" " "?%&I2&&%(B"" +,-&-" "A'%(+&" "D(?" "*-1D+-?"" %&&2-&" " " )*-b2-(+1@O"8"b2'+-"
)*'3""D""+D1C""?-1%E-*-?"""D+""+,-""U*%>2(-"
U*2&+""'(""=="_->*2D*@""!\\V""D+""I,D(?%BD*,O"
U,'2B," +,-" H'1?" "WD*" " ,D&" " -(?-?G" &-1-I+%E-" +DI+%I&" " D*-" " &+%11" " ')" " +,-"
?-E-1'A-?" I'2(+*%-&O $D*%'2& +@A-& ') +-I,('1'B@ ?-(%D1 *-B%3-& D*-" &+%11 >-%(B
=]"
-()'*I-?""/,%I,""D*-""('/"">-%(B""3D%(1@""+D*B-+-?"DBD%(&+""?-E-1'A%(B"""I'2(+*%-&"1%C-"
8(?%DO"
U'?D@" "/-" "-(I'2(+-*" " +/%("A*'>1-3&O":(-" " &%?-" +,-*-" " %&" " D" " " 1D*B-"&ID1-"
&+*-(B+,-(%(B"')""'2*""(-%B,>'*&"+,*'2B,""&2AA1@""')"D*3&"D(?"I1D(?-&+%(-"&2AA'*+"+'"
+,-%*"(2I1-D*"D(?"3%&&%1-""A*'B*D33-*&""D(?""'("+,-""'+,-*""&%?-"D11""-))'*+&""D*-"">-%(B"
3D?-" +'" /-DC-(" '2*" %(?%B-('2&" +-I,('1'B@" B*'/+," +,*'2B," " I'(+*'1" *-B%3-&" D(?"
?23A%(B""')"1'/c+-I,""&@&+-3&G"DII'3AD(%-?"/%+,"",%B,"I'33-*I%D1""A%+I,"%("I*%+%ID1"
D*-D&O"6*'/+,""')""%(?%B-('2&""+-I,('1'B@"D(?""&-1)c"*-1%D(I-"D*-"+,-""'(1@""D(&/-*""+'"
+,-"A*'>1-3O
U,2&" " %(" +,-" " -(E%*'(3-(+" " D*'2(?" 8(?%D" G" " +,-" (23>-*" " ')"3%&&%1-&" " D(?"
(2I1-D*"A'/-*&"D*-"I'(+%(2'2&1@"%(I*-D&%(B"D(?"?-&+*2I+%E-""/-DA'(&"I'(+%(2-"+'"A%1-""2A"
D*'2(?"2&"G""%("&A%+-"')""D*3&"*-?2I+%'("+*-D+%-&O"
U'""2(?-*&+D(?""+,-"%3A1%ID+%'(&""')""ED*%'2&""+@A-&"')""/D*)D*-Y&""+,D+"3D@"
D))-I+""2&G"/-""(--?"+'"+DC-"D"b2%IC"1''C""D+"+,-"-E'12+%'("')""/D*""/-DA'(*@""D(?""+,-"
+@A-&"')"/D*)D*-O"""8""D3"",%B,"1%B,+%(B"+,%&"A'%(+"")'*""+,-"*-D&'(""+,D+""%(""1-&&"+,D(""D"
I-(+2*@"/-""I'21?"&--""I,D(B-""%(""(D+2*-""')""/D*)D*-"D(?"%+&""D))-I+""'("+,-"&'I%-+@O"
8("-D*1@""@-D*&""')"",23D("",%&+'*@"" %+""/D&"3'&+1@"?%*-I+"",23D(""/D*)D*-O"
J2*%(B"" +,-"+/-(+%-+,"I-(+2*@"2A"+'"D>'2+"!\\KG" "+,-""/D*)D*-" "/D&" "/-DA'("?*%E-(O"
U,-" "/-DA'(&" 2&-?" /-*-" B2(&G" +D(C&G" D%*I*D)+G" &,%A&G" &2>3D*%(-&" D(?" " +,-" " (2I1-D*"
/-DA'(&""?-A1'@-?""'("1D(?n&-DnD%*"D(?""D1&'"*-I'((D%&&D(I-""&ADI-I*D)+O"4*'1%)-*D+%'("
')"I'(E-(+%'(D1OG" (2I1-D*" " D(?" " >%'1'B%ID1" "/-DA'(&" "/D&" "D+" " D"A-DC"'/%(B" " +'"+,-"
I'3A-+%+%'("">-+/--(" +,-""&2AA-*""A'/-*&O"
U,-""(-f+""A,D&-"G""%(""D""(-/"")'*3G",D&"a2&+"&+D*+-?")*'3""!\\K""'(/D*?&O"
U,-"/'*1?",D&"B*D?2D+-?"%(+'""-I'('3%I"/D*)D*-O"U,-"3-D(&"2&-?"%&"I'(+*'1"')"3D*C-+"
)'*I-&"+,*'2B,"",%B,"+-I,('1'B@"O"U,-"AD*+%I%AD+%(B"(D+%'(&G"DAD*+")*'3"+,-"7<#""GD*-"
[DAD("G+,-"7;G"_*D(I-G"6-*3D(@"GI-*+D%("&'2+,c#&%D("I'2(+*%-&"D(?"D")-/"'+,-*&"OU,-"
?*%E%(B")'*I-"%&"+,-"B-(-*D+%'("')"/-D1+,"/%+,"I-*+D%("+@A-"')"-I'('3%ID1"?'I+*%(-"O"
U,-"2*B-(+"%&&2-"+,D+""/-"(--?"+'"D??*-&&"I'11-I+%E-1@""D&"D"(D+%'("%&G",'/"
?'"/-",D(?1-"+,-"+DI+%I&"')"-I'('3%I"D(?"3%1%+D*@"?'3%(D(I-" %("+,%&"(-/")'*3"I'3%(B"
)*'3"+,-">DIC"?''*O"U'?D@""+-I,('1'B@"" %&"+,-"3D%("?*%E-*"')""-I'('3%I"?-E-1'A3-(+"D+"
+,-"(D+%'(D1"1-E-1O"U,-*-)'*-G"/-",DE-"+'"?-E-1'A""%(?%B-('2&"+-I,('1'B%-&"+'"-(,D(I-"'2*
=L"
I'3A-+%+%E-" -?B-" " D(?" +'" B-(-*D+-" (D+%'(D1" /-D1+," " %(" D11" &-B3-(+&" ')" -I'('3@O"
U,-*-)'*-G"+,-"(--?"')"+,-",'2*"%&!-)6!A+0#-!B#$%!$(:%+*.*93!
QD>D96!!J9B!!=@;!60=D96"
.D+%'(&" D*-" " >2%1+" " >@" +,-" %3DB%(D+%'(" D(?" 2(+%*%(B" " -(+,2&%D&+%I" -))'*+&"')"
B-(-*D+%'(&"O'(-"B-(-*D+%'("+*D(&)-*&""+,-")*2%+&"')"%+&"+'%1""+'"/,%I,"+,-("+DC-&")'*/D*?"
+,-" 3%&&%'(" O#&" +,-" I'3%(B" B-(-*D+%'(" D1&'" ,D&" %+&" ?*-D3&" D(?" D&A%*D+%'(&" )'*" +,-"
(D+%'(Y&")2+2*-"G"%+"+,-*-)'*-"D??&"&'3-+,%(B")*'3"%+&"&%?-"+'"+,-"(D+%'(D1"E%&%'("g/,%I,"
+,-"(-f+"B-(-*D+%'("&+*%E-&",D*?"+'"DI,%-E-O"U,%&"A*'I-&&"B'-&"'("D(?"+,-"(D+%'("I1%3>&"
&+-A&"')"B1'*@"D(?"BD%(&",%B,-*"&+*-(B+,&"O"
U,-")%*&+"E%&%'(^")*--?'3")'*""8(?%D"#(@"'*BD(%dD+%'("G"&'I%-+@"'*"-E-("D"(D+%'("/%+,'2+"D"E%&%'(" %&" 1%C-"D"&,%A"
I*2%&%(B"'(" +,-" ,%B,"&-D&"/%+,'2+"D(@"D%3"'*"?%*-I+%'(" O8+" %&" I1D*%+@"')" (D+%'(D1" E%&%'("
/,%I,"I'(&+D(+1@"?*%E-&"+,-"A-'A1-"+'/D*?&"+,-"B'D1"O"
:2*" 1D&+" B-(-*D+%'(" G" +,-" B1'*%'2&" B-(-*D+%'(" ')" )*--?'3" )%B,+-*&G" 1-?" >@"
0D,D+3D"6D(?,%"GD(?"3D(@"'+,-*&"&-+")'*"+,-"(D+%'("D"E%&%'("')")*--"8(?%DO"U,%&"/D&"+,-"
)%*&+"E%&%'("G&-+">@"+,-"A-'A1-")'*"+,-"(D+%'("O8+G"+,-*-)'*-G"/-(+"?--A"%(+'"+,-"3%(?&"D(?"
+,-",-D*+&"')"+,-"3D&&-&"D(?"&''(">-ID3-"+,-"B*-D+"%(&A%*%(B"D(?"?*%E%(B")'*I-")'*"+,-"
A-'A1-" +'" I'11-I+%E-1@" A12(B-" %(+'" +,-" &+*2BB1-" )'*" )*--?'3" 3'E-3-(+O" " U,-" 2(%)%-?"
?-?%ID+-?"-))'*+&"')"+,-"A-'A1-")*'3"-E-*@"/D1C"')"1%)-"/'(")*--?'3")'*"+,-"I'2(+*@O!
I@;!>;796,!FD>D96U!,;F;.9A;,!"6,D0"U,-"(-f+"B-(-*D+%'("M+'"/,%I,"8"D1&'">-1'(B"N,D&"47U"8(?%D""&+*'(B1@"'("+,-"
AD+,"')"-I'('3%I" G" DB*%I21+2*D1" D(?" +-I,('1'B%ID1"?-E-1'A3-(+" O"92+" 8(?%D" " ,D&" &+''?"
+''"1'(B"%("+,-"1%(-"')"?-E-1'A%(B"(D+%'(&"O!Z($!;,!7!:*..(:$#1(.37!,($!$%(!,(:*+0!+-$#*+-.!
1#,#*+! *'! 4(1(.*<(0! A+0#-O" 8" D3" " I'()%?-(+" +,D+" %+" %&" E-*@" 32I," A'&&%>1-" D(?" ID("
3D+-*%D1%d-""%("!Qc=K"@-D*&"+%3-O!
$;F;.9A;,!>=0=->"
W,D+" ?'-&" +,-" ?-E-1'A-?" (D+%'(" &+D+2&"3-D(" %(" +-*3&" ')" +,-" I'33'("3D(" e" 8+"
3-D(&" +,-"3Da'*" +*D(&)'*3D+%'(" ')" '2*" (D+%'(D1" -I'('3@" +'"3DC-" %+" '(-"')" +,-" 1D*B-&+"
-I'('3%-&" %(" +,-"/'*1?" g/,-*-" +,-" I'2(+*@"3-(" 1%E-"/-11" D>'E-" +,-" A'E-*+@" 1%(-G" +,-%*"
-?2ID+%'(" D(?" ,-D1+," %&" ')" ,%B," &+D(?D*?g" (D+%'(D1" &-I2*%+@" *-D&'(D>1@" D&&2*-?G" D(?" +,-"
I'*-"I'3A-+-(I-"%("I-*+D%("3Da'*"D*-D&"B-+&"-(,D(I-?"&%B(%)%ID(+1@"&'"+,D+"+,-"A*'?2I+%'(
=V"
')"b2D1%+@"B''?&G"%(I12?%(B"-fA'*+&G"%&"*%&%(B"D(?"+,-*->@">*%(B%(B"D11c*'2(?"A*'&A-*%+@")'*"
+,-"I'2(+*@3-(O" "W,D+" %&" +,-"I'33'(" 1%(C"(--?-?"+'"*-D1%d-"+,-&-"&2>cB'D1&e" "8+" %&" +,-"
+-I,('1'B%ID1"&+*-(B+,"')"+,-"(D+%'(G"/,%I,"%&"+,-"C-@"+'"*-DI,"+,%&"?-E-1'A-?"&+D+2&O!
E-D.,!0B9-6,!9-B!>=B;6<=@"
U,-"(-f+"b2-&+%'("+,D+"I'3-&"+'"+,-"3%(?"%&G",'/"ID("%+">-"3D?-"A'&&%>1-e"""W-"
,DE-" +'" >2%1?" D(?" &+*-(B+,-(" '2*" (D+%'(D1" %()*D&+*2I+2*-" %(" D(" D11c*'2(?" '2*" -f%&+%(B"
&+*-(B+,&" %(I12?%(B" +,-" ED&+" A''1" ')" +D1-(+-?" &I%-(+%&+&" D(?" +-I,('1'B%&+&g" D(?" '2*"
D>2(?D(+" (D+2*D1" *-&'2*I-&O" " U,-" 3D(A'/-*" *-&'2*I-" &,'21?" >-" 'A+%3D11@" 2+%1%d-?" +'"
,D*(-&&" R-D1+," ID*-G" &-*E%I-&" &-I+'*&" D(?" -(B%(--*%(B" B''?&" &-I+'*&G" " W-" &,'21?"
I'(I-(+*D+-" '(" ?-E-1'A3-(+" ')" C-@" D*-D&G" (D3-1@" DB*%I21+2*-" A*'?2I+%'(G" )''?"
A*'I-&&%(BG" 3D+-*%D1&" D(?" D1&'" '(" +,-" -3-*B%(B" (%I,-" D*-D&" 1%C-" I'3A2+-*" &')+/D*-G"
>%'+-I,('1'B%-&"D(?"&'"'(O""U,-"I'33'("1%(C"*-b2%*-?"+'">*%(B"+,%&"+*D(&)'*3D+%'("%&"+,-"
,23D(" *-&'2*I-&O" " U,-*-)'*-G" D?-b2D+-" D++-(+%'(" (--?&" +'" >-" AD%?" +'" ?-E-1'A3-(+" ')"
&A-I%D1",23D("*-&'2*I-"ID?*-"%("+,-"I'2(+*@"+'"3--+"+,-&-"'>a-I+%E-&O!
E;G96,!!&'&'"
U,-"D++D%(3-(+"')"D"?-E-1'A-?"&+D+2&">@"=K=K"?'-&"('+"3-D("+,D+"/-"ID("+,-("
*-&+"'("'2*"1D2*-1&O""8+"%&"D("-(?1-&&"A2*&2%+"')"/-11c>-%(B")'*"D11"'2*"A-'A1-O"":2*"E%&%'("')"
D"?-E-1'A-?"(D+%'(" %(+-B*D+-&" +,%&" -1-3-(+"')" +%3-"/%+,%(" %+" D&"/-11O" ":(1@"A-'A1-"/%+,"
3D(@" -3>'?%-?" &C%11&" D(?" C('/1-?B-" D(?"/%+," %B(%+-?"3%(?&" ID(" >-" *-D?@" )'*" &2I," D"
1'(Bc+-*3" E%&%'(O" "W-">-1%-E-" +,D+" %+" %&" A'&&%>1-" +'" ?-E-1'A" '2*" A-'A1-" +'" *-DI," &2I," D"
&+D+-G"A*'E%?-?"/-"ID(")'11'/"D"&+-D?@"AD+,"D(?"3DC-"DED%1D>1-"+'"+,-"A-'A1-"+,-">-(-)%+&"
')" I,D(B-" D11" +,*'2B," +,-%*" 1%E-&O" " U,-@" &,'21?" &--" +,-%*" 1%E-&" D(?" +,'&-" ')" '+,-*&"
%3A*'E%(B"%("DI+2D1"+-*3&G"D(?"('+"3-*-1@"%("&+D+%&+%ID1"+D>1-&O!
%7=D96>"U,%&" 3-D(&" +,-" E%&%'(" &,'21?" >-I'3-" D" AD*+" ')" +,-" (D+%'(G" +*D(&I-(?%(B"
B'E-*(3-(+&c+,-" A*-&-(+" D(?" +,-" )2+2*-O" " U'" 3DC-" +,%&" ,DAA-(G" &-E-*D1" DI+%'(&" D*-"
*-b2%*-?O" #(" %3A'*+D(+" -1-3-(+" ')" +,-&-" -))'*+&" %&" +'" ?-E-1'A" ED*%'2&" -(?'B-('2&"
+-I,('1'B%ID1" &+*-(B+,&O" " #)+-*" D11G" +-I,('1'B%-&" D*-" A*%3D*%1@" 3D(%)-&+D+%'(&" ')" ,23D("
-fA-*%-(I-"D(?"C('/1-?B-"D(?" +,2&" D*-"IDAD>1-" ')" )2*+,-*"I*-D+%E-"?-E-1'A3-(+G"2(?-*"
-(D>1%(B"-(E%*'(3-(+&O
=\"
W-" ,DE-" ')+-(" D&C-?" '+,-*&" D(?" '2*&-1E-&"/,@" 8(?%D" %(" %+&" &-E-*D1" +,'2&D(?"
@-D*&"')",%&+'*@",D&"*D*-1@"+*%-?"+'"-fAD(?"%+&"+-**%+'*%-&"'*"+'"D&&23-"D"?'3%(D+%(B"*'1-O"
0D(@"')"+,-"-fA-*+&"D(?"'+,-*&"/%+,"/,'3"/-",D?"D"?%D1'B2-"*-)-**-?"+'"&'3-"
&A-I%D1" " )-D+2*-&" ')" +,-" 8.J8#." A&@I,-" /,%I," /'21?" AD*+1@" -fA1D%(" " +,%&" ^B*-D+-*"
+'1-*D(I-" G1-&&" ?%&I%A1%(-" G1DIC" ')" D" &-(&-" ')" *-+D1%D+%'(G" 3'*-" )1-f%>%1%+@" %(" DII-A+%(B"
'2+&%?-*&"G"B*-D+"D?,-*-(I-"+'",%-*D*I,@G"D(?"-3A,D&%&"'("A-*&'(D1"&D)-+@"'E-*"D?E-(+2*-O"
<'3-")-1+"+,D+"D"I'3>%(D+%'("')"3D(@"')"+,-&-")-D+2*-&",DE-"D))-I+-?"'2*"D>%1%+@"+'"A2*&2-"
D"E%&%'("-?DI%'2&1@O"W-"/%11"B%E-"B1%3A&-&"')"+,-&-"E%-/&"%("1D+-*"I,DA+-*&O"
W-">-1%-E-"+,D+"D&"D"(D+%'("D(?"D&"D"A-'A1-"/-"(--?"+'"&,-?"'2*"I@(%I%&3"D(?"
%(%+%D+-"I'(I*-+-"DI+%'("+'"*-D1%d-"+,-"&-I'(?"E%&%'(")'*"+,-"(D+%'(O"U,-")%*&+"E%&%'(G"&--?-?"
D*'2(?!VQLG/D&" )'*" 8(?%D" +'" >-I'3-" " A'1%+%ID11@" %(?-A-(?-(+g" +,-" &-I'(?" '(-" %&" +'"
>-I'3-" D" )211@" ?-E-1'A-?" (D+%'(O" :2*" &2II-&&)21" DI+%'(" /%11" 1-D?" +'" )2*+,-*" DI+%'(G"
>*%(B%(B"+,-"E%&%'("32I,"I1'&-*""""+'"*-D1%+@O"4-*,DA&"%("D"?-ID?-")*'3"('/"/-"3D@"-E-("
>-""2*B-?"D&",DE%(B">--("ID2+%'2&"D(?"I'(&-*ED+%E-s"W-"/%11">-",DAA@"%)"+,-"DI+%'(&"+DC-("
A*'E-&" +,D+" +,-@" I'21?" ,DE-" >--(" &+%11" >'1?-*" %(" D?E'ID+%(B" D" )D&+-*" 3D*I," +'/D*?&" D"
?-E-1'A-?"8(?%Ds"
W-" ,D?" /*%++-(" +,%&" I,DA+-*" >-)'*-" +,-" (2I1-D*" +-&+&" '(" !!" 0D@" !\\VO" U,-"
?-+D%1&"')" +,-" "23>-*&"A*'a-I+-?" %(" +,-" +D>1-&"#(?" )%B2*-&"3D@"I,D(B-">2+"'2*">-1%-)" %("
/,D+"/-" &D@" +,-*-" *-3D%(&" 2(I,D(B-?O" 8(" D(@" ID&-G" +,-@" D*-"3-D(+" +'" >-" %(?%ID+%E-" ')"
?%*-I+%'(&" )'*"I,D(B-O"/-" ,DE-" &--(" +,-" *-DI+%'(&" +'" +,-" +-&+&"/%+,%(" +,-" I'2(+*@" %(" +,-"
8(?%D(" D(?" )'*-%B("3-?%DO"W-" ,DE-" D1&'" ,D?" +,-" >-(-)%+" ')" A*%ED+-" I'(E-*&D+%'(&"/%+,"
3D(@""8(?%D(&O"8("D11" +,-&-G" 8"'>&-*E-?"'(-"&+*%C%(B" )-D+2*-^"D"(23>-*":)"A-*&'(&" %("+,-"
)%)+@cA12&" >*DIC-+" D(?" -&A-I%D11@" +,'&-" /,'" D*-" 8(" A'/-*)21" A'&%+%'(&" %(" B'E-*(3-(+" G"
%(?2&+*@"G>2&%(-&&"D(?"DID?-3%D""G"&--3""+'""1DIC""+,-"/%11""+'")DI-""A*'>1-3&O"U,-@"/'21?"
1%C-" +'" >-" &2AA'*+-?" " >@" '+,-*" I'2(+*%-&" %(" " -E-*@" " DI+%'(" "/-" " ,DE-" +'" " +DC-" " %(" " +,-"
I'2(+*@O"U,%&" %&"('+"""D""B''?""&%B("""D)+-*"")%)+@"@-D*&"')""D("" %(?-A-(?-(+""8(?%D""/,%I,"
,D&""D11""D1'(B""-3A,D&%d-?"h&-1)c"*-1%D(I-YO"
W-"""D*-"""('+""""D?E'ID+%(B"f-('A,'>%D""('*""%&'1D+%'(O"92+"D11"')"2&"",DE-""+'"
>-""I1-D*""+,D+"""('>'?@""%&"""B'%(B"""+'"""",'1?""""'2*"",D(?&"+'""1-D?""2&"%(+'"+,-"h?-E-1'A-?"
I'2(+*@" I12>YO".2I1-D*" " " +-&+&" " D*-" " +,-" I213%(D+%'(" " ')" " " -))'*+&" " " +'" " " DAA1@" " " (2I1-D*"
+-I,('1B@"")'*"(D+%'(D1"&-I2*%+@O"W,-("""/-"""ID**%-?"""'2+"""+,-""+-&+&"""%(""3D@"!\\V"G"8(?%D
PK"
/%+(-&&-?"%&&2%(B""')"&D(I+%'(&"">@"D")-/"?-E-1'A-?""I'2(+*%-&O"8(""+,-"A*'I-&&G"+,-"&D3-"
I'2(+*%-&" " ,DE-" A2*A'&-1@" I'11DA&-?" +,-%*" '/(" ?'I+*%(-" ')" B1'>D1" 3D*C-+%(BG" B1'>D1"
)%(D(I-"&@&+-3&"D(?"B1'>D1""E%11DB-O"R-(I-"""8(?%D""",D&""+'"""-E'1E-""%+&""'/("""'*%B%(D1"
-I'('3%I""A'1%I@G"D&"/-11""D&"?-E-1'A3-(+G">2&%(-&&"D(?"3D*C-+%(B"&+*D+-B%-&O"
8+" %&"('+" a2&+" +,D+"+,-"8(?%D("(2I1-D*" +-&+&"D*-"*-&-(+-?O" "8)" +'3'**'/"" "8(?%D("
&')+/D*-" "-fA'*+" " DI,%-E-&" "D" " &%dD>1-" " &,D*-" " %(" +,-"B1'>D1" "3D*C-+G">-I'3%(B" +,%*?" "'*"
)'2*+,""'*")%)+,""%(""&%d-"G"/-"&,'21?""-fA-I+""?%))-*-(+""+@A-&""')"""*-DI+%'(&O"U'?D@G"/-""D*-"
D"&3D11"A-*I-(+DB-""')"+,-""+'+D1""+*D?-""%("&')+/D*-""'*""%()'*3D+%'("+-I,('1'B@O"<%3%1D*1@"G"
%)" 8(?%D"">-I'3-&""D""1D*B-""-('2B,""-fA'*+-*"')""/,-D+""'*""*%I-""'*""DB*'c)''?""A*'?2I+&"
+'""+DC-""%+""%(+'""D("-fI12&%E-""I12>""')"")'2*""'*" )%E-"+'A"")''?B*D%(c-fA'*+%(B""(D+%'(&G"
ED*%'2&" " (-/" " %&&2-&" "/'21?" " >-" " *D%&-?" " I'2I,-?" " %(" " &I%-(+%)%I" " D(?" +-I,(%ID1" +-*3&"
*D(B%(B" " )*'3" "A,@+'c&D(%+D*@" " &A-I%)%ID+%'(&" " +'"'2*"I'(+*%>2+%'(" " +'" "B1'>D1" "/D*3%(BO"
021+%1D+-*D1""*-B%3-&""+'"+,-&-""-))-I+&""-f%&+""%(""+-*3&""')""6-(-*D1"#B*--3-(+""'(""U*D?-"
D(?" UD*%))&M6#UUND(?" '+,-*" " -(E%*'(3-(+" " " *-1D+-?" "321+%1D+-*D1" +*-D+%-&O" 8(?%D" ID(('+"
D))'*?""('+"+'""&%B(""+,-&-""+*-D+%-&G"+,'2B,"/-"""I'21?"",DE-"?'(-"""'2*""",'3-/'*C""D"1%++1-"
>-++-*""?2*%(B""+,-"(-B'+%D+%'(&O"W-",DE-"+'"")DI-""/,D+""/-"",DE-""/%+,""2&O"W-"(--?""+'"
A1D@""+,-"321+%1D+-*D1""BD3-G""D++*DI+""")'*-%B(""%(E-&+3-(+&"G",DE-"a'%(+"E-(+2*-&""D(?"">-"
D(" "DI+%E-" " %(+-*(D+%'(D1" "A1D@-*O"<+%11" G"/-",DE-" " +'" "*-3-3>-*" " " +,D+" " +,'&-" "/,'" "D%3"
,%B,G",DE-""+'""1-D*("+'"/D1C""D1'(-""+''G"/,-(""*-b2%*-?O"
U,-*-""D*-""-I'('3%I""D(?""&'I%D1""A*'>1-3&""%("&'2+,c-D&+"#&%D"D(?"""aDAD(O"5DI,"
I'2(+*@" " %&" +*@%(B" " +'" " +DIC1-" " +,-3" " %(" " %+&" " '/(" " /D@O" U,-*-" " %&" D" ED*%-+@" " %(" " +,-"
DAA*'DI,-&O" <'3-" " 3D@" " 'E-*I'3-" +,-" ?%))%I21+%-&" " D(?" " &'3-" " 3D@" ('+O"W-" " >-1%-E-"
8(?%D""ID(""&+%11""-3-*B-"D"3Da'*""?-E-1'A-?""I'2(+*@""D(?""D11"%+&""A-'A1-""ID(""I'(+*%>2+-"
+'"D(?""&,D*-" " %(" " +,-""A*'&A-*%+@O":2*" ",'A-"" 1%-&" " %(" " +,-"" )DI+" " +,D+"-E-(" %(" " +,-""'1?-*"
B-(-*D+%'(G""+,-*-""D*-""D"""(23>-*""')""A-*&'(&""/,'"D*-""*-D?@""+'"")DI-""+,-""I,D11-(B-&O"
0'&+""""')""+,-""A-'A1-""D*-""A*'2?"+'""&--"D(""8(?%D(""%&"">'1?O"8(""""D??%+%'(G"""+,-""""@'2(B-*"
B-(-*D+%'("" %&"*-D?@""+'""+DC-""DI+%'("" %(""&2I,""D"I'3A1-f""-(E%*'(3-(+O"0D(@"')""+,-3"
,DE-""+'""I'(+-(?""/%+,""?%))%I21+"",%-*D*I,%ID1""&+*2I+2*-&""%("+,-""8(?%D(""&@&+-3&G"/,-+,-*"
%(" " +,-""A*%ED+-""'*" "A2>1%I"&-I+'*G" %("B'E-*(3-(+" "'*"" %("DID?-3%DO"U,-@""D*-" "*-D?@"" +'"
*'2B,""%+""'2+OU,D+"""%&""/,-*-""'2*" ,'A-&""1%-&"")'*""+,-""*-D1%dD+%'(""')""+,-""<-I'(?"$%&%'(O
P!!
?@0A=;B!!!&!
M@0=!9=@;B!79-6=BD;>!L6FD>D96!J9B!I@;1>;.F;>!
I$)1$?$! 6-*+1673! 2$#$):! ,$'&5.$! :-5! +&?$! ,$$6! *-)0! 1*3! -#! ,$'&5.$! 1*! 1.!
*#&01*1-6&)! -#! ,$'&5.$! :-5! :-5#.$)?$.! +&?$! 12&716$0! 1*;! F-! 6-*! ,$)1$?$! 4+&*! :-5#!
*$&'+$#! *$)).! :-5! 2$#$):! -5*! -%! #$./$'*! %-#! :-5#! *$&'+$#;! I5*! ! 4+&*$?$#! &%*$#! 05$!
'-6.10$#&*1-6! &60! &6&):.1.! :-5! ! %160! ,$! ! '-605'*1?$! *-! ! *+$! ! 7--03! *+$! ! ,$6$%1*3! *+$!
4$)%&#$!-%!&))!,$167.3!*+&*!0-'*#16$3!,$)1$?$!!&60!')167!*-!&60!*&J$ 1*!&.!:-5#!7510$;!
<>+$!I500+&"
#&"""D"""I'2(+*@G"/-"",DE-"""('+"""@-+""">-I'3-"">'1?""-('2B,""+'""&-+""D"I'2*&-""')"
'2*" '/(O""W,-(""""6D(?,%a%" """D?'A+-?""""D,%3&D""""D(?"&D+@DB*D,D"" "D&" ""3-+,'?&"""')"
'>+D%(%(B")*--?'3G"%+""""/D&"""D"""B*-D+"%(('ED+%'(O"92+"""+'?D@"""/-"""/D(+""'(1@""+'""%3%+D+-"
/,D+"'+,-*&"",DE-"?'(-"G""">-""""%+""""%(""""-I'('3%I"""A'1%I@"G"""%(?2&+*@ G"""+*D?-""G""""&I%-(I-G"
+-I,('1'B@"G""3-?%D"""'*""-E-("""1%+-*D+2*-"O""8(?%D"""",D&"""(-E-*"">--("DE-*&-""+'""/-1I'3%(B"
%?-D&" "D(?" "A-'A1-" " )*'3" "'2+&%?-" " O" " 8+" " " " ",D&"D&&%3%1D+-?" "3D(@" " %?-D&" G" I21+2*-&" " D(?"
+-I,('1'B%-&""D)+-*""&,DA%(B"+,-3""+'""&2%+""%+&"kB-(%2&""D(?"%+&""-(E%*'(3-(+O"8(?%D(&""+''"
,DE-"B'(-""D>*'D?""D(?""?%&&-3%(D+-?""'2*""I21+2*-"O""/-"",DE-""I'(+*%>2+-?"
+'" " +-I,('1'B@" " D&"/-11" ^" +,-" " &+%**2A" " " D(?" " +,-" " *'IC-+" G" " +,-" " " (23>-*&" +,-'*@" " " " %("
3D+,-3D+%I&"G""",-*>D1"""3-?%I%(-" D(?""""3-+D112*B@"G""+'"(D3-"""&'3-O""U'?D@"""/-"""&--"
D"""(-/""&%+2D+%'(G"%(""/,%I,""'2*"",%B,"ID1%>-*""&I%-(+%&+&""D(?""+-I,('1'B%&+&""-(*%I,""+,-"
-I'('3%I&""')"""+,-"7<#"""""D(?"""""-2*'A-D(""""""D(?"""""'+,-*"""""I'2(+*%-&O"
<'3-/,-*-" ?'/(""+,-""1%(-"" %("'2*""1'(B"",%&+'*@G"""/-"""DAA-D*""+'",DE-"1'&+"
)D%+,"%("'2*&-1E-&"O"+,D+"3%(?&-+"&--3&""+'""A-*&%&+""O""_'*"D""""+%3-"""/-""&,2+""'2*""?''*&""+'"
'+,-*" " %?-D&" " D(?" "3D%(1@" " )'2B,+" D3'(B" " '2*&-1E-&O"U,-(" " ID3-" " D" A-*%'?" "/,-(" "/-"
>1%(?1@""D?'A+-?"/,D+-E-*"""""""/D&""""")'*-%B(O"W-""&--3""+'",DE-"D">1%(?"D?3%*D+%'(""')"
D(@+,%(B""?'(-""'2+&%?-""'2*"">'*?-*&""D(?""E-*@""1%++1-"">-1%-)""%(""'2*"'/(""""D>%1%+%-&"O""8+"
%&""D"""&D?"""&+D+-""""+'"">-"""%("G""D)+-*"")%)+@""@-D*&""')""%(?-A-(?-(I-"O"R'/-E-*G""+,-*-""D*-"
>*%B,+-*"""&A'+&"""+''O"
U,%&" "3@+,%ID1" " )'*-%B(" &2A-*%'*%+@" %&" E'2I,-?" )'*" G" &'3-+%3-&G" >@" " " A-'A1-"
/,'"""'2B,+"""+'"""C('/""">-++-*"O""U,-@"""&%3A1@"""ID(('+">-1%-E-""+,D+""/-""+''""ID("""D&A%*-
P="
)'*" G" D(?" " DI,%-E-" " G" " -fI-11-(I-" " %(" +-I,('1'B@O8" ,DE-" " %(" "3@" " A'&&-&&%'(" " D" " B1'&&@G"
&2A-*>1@""A*'?2I-?O"6-*3D(""ID1-(?D*""/%+,""3DA&""')""52*'A-"""D(?""#)*%ID"">D&-?"""'("
*-3'+-""&-(&%(B""O"/,-(""A-'A1-""D*-""+'1?""+,D+"""+,-""&D+-11%+-""G"+,D+""""""+''C""+,-""A%I+2*-"
/D&""+,-""8(?%D(""X-3'+-""<-(&%(B""<D+-11%+-"G"+,-@")%(?"""%+"",D*?""+'">-1%-E-"O"+,-@"",DE-""+'"
>-""&,'/(""+,-""I*-?%+""1%(-"2(?-*""+,-""A%I+2*-&"O"
W,-(""%+""%&""&'3-+,%(B"*-1D+%(B"+'""+,-""AD&+G"+,%(B&"D*-"-E-("/'*&-O"8"*-ID11""D"
?%((-*"""3--+%(B""/%+,""3@""AD*+%I%AD(+&"D(?"8(?%D(""B2-&+&""/,-*-""+,-""?%&I2&&%'(""?*%)+-?"
+'"+,-"-D*1@"",%&+'*@" ""')"*'IC-*@O"U,-""H,%(-&-"" %(E-(+-?""B2(A'/?-*""D"+,'2&D(?"@-D*&"
DB'"G"D(?""2&-?""A'/?-*cA*'A-11-?"")%*-"D**'/&""%("">D++1-""?2*%(B" +,-"+,%*+--(+,"I-(+2*@O"
J2*%(B""+,-""I'2*&-""')""+,-""?%&I2&&%'("G"8"&A'C-""')"+,-""-))'*+""8""3D?-""+'""&--"U%AA2Y&"
*'IC-+&""%("+,-"X'+2(?D""02&-23""D+""/''1/%I,""(-D*"F'(?'("/,%I,""/-*-""2&-?""%(""+,-"
+/'"">D++1-&""')"<-*%(BDAD++D3O"8""A'%(+-?"'2+"%+" /D&""+,-"")%*&+""2&-"')""3%1%+D*@""A'/?-*-?"
*'IC-+&" " D(@/,-*-" %(" +,-" "/'*1?" G" " D(?" " +,D+" " +,-" "9*%+%&," &+2?%-?" " +,-&-" " *'IC-+&" " D(?"
%3A*'E-?" " 2A'(" " +,-3" )'*" " %(" +,-" " >D++1-&" " " %(" " 52*'A-O"#" &-(%'*" " 8(?%D(" %33-?%D+-1@"
I'(I12?-?""+,D+""+,-""_*-(I,"",D?" %3AD*+-?""+,-%*""+-I,('1'B@""+'""U%AA2O"8",D?""+'"A'1%+-1@"
+-11" " ,%3" " +,D+" " +,%&"/D&" " ('+" +,-" " ID&-" " D(?" " +,D+" " 8"/'21?" " 1D+-*" &,'/" " ,%3" " D" " >''C"
D2+,-(+%ID+%(B" /,D+" 8" &D%?!" U,-" " " >''C! V" >@" +,-" )D3'2&"9*%+%&," &I%-(+%&+" <%*" "9-*(D*?"
F'E-11G"/D&" -(+%+1-?" O!C%(! !*)#9#+,!-+0! A+$()+-$#*+-.![:*+*6#:,!*'!M<-:(![E<.*)-$#*+OO"
W%11%D3"H'(B*DE-G"&+2?@%(B"U%AA2Y&""*'IC-+&"G"?-3'(&+*D+-?"+,-"A*'+'+@A-""')" %3A*'E-?"
E-*&%'(&"')"*'IC-+&""%(""<-A+-3>-*"!VKQ""+'"A*%3-"0%(%&+-*""W%11%D3""A%++""D(?"
<-I*-+D*@""')""WD*""F'*?" HD&+1-*-DB,O"83A*-&&-?"G"+,-@"2&-?""+,-&-""*'IC-+&""%(""D""9*%+%&,"
D++DIC""DBD%(&+"".DA'1-'(""%("+,-"'II2A%-?""AD*+&""(-D*"9-1'(B-?"",D*>'*""?2*%(B":I+'>-*"
!VK]O"<2>&-b2-(+1@G"+,-""*'IC-+&"/-*-"2&-?"">@"+,-"9*%+%&,"%("+,-"D++DIC&""'("H'A-(,DB-("
?2*%(B""#2B2&+c<-A+-3>-*"!VKLGD(?"%("#A*%1"!VKK"DBD%(&+"+,-"_*-(I,")1--+"D(I,'*-?"(-D*"
X'I,-")'*+"O"
U,-"8(?%D("B2-&+"1''C-?"D+"+,-">''C"ID*-)211@G"B1D(I-?"+,*'2B,"+,-"AD*+&"8",D?"
A'%(+-?" +'" G" )1%AA-?" D" )-/"ADB-&" D(?" BDE-" +,-" >''C">DIC" G" &D@%(BG" h%(+-*-&+%(BYO"J%?" %+"
3DC-",%3"A*'2?"')"8(?%D"D(?"8(?%D("I*-D+%E%+@e"8"?'"('+"C('/G">2+"%+"%&"+*2-"+,D+"%("8(?%D"
/-",DE-" )'*B'++-("'2*"I*-D+%E-" ,-*'-&O"U,-"9*%+%&," ,DE-" D"3-+%I21'2&" *-I'*?"')"D11" +,D+"
W%11%D3"H'(B*DE-"?%?"+'"%3A*'E-"U%AA2Y&" "*'IC-+&O"W-"?'(Y+"-E-("C('/""/,'"U%AA2Y&"
-(B%(--*&"/-*-G"('*",'/"+,-"*'IC-+&"/-*-"3D(2)DI+2*-?"'("D" 1D*B-"&ID1-O"#"I*2I%D1" +D&C
PP"
>-)'*-"2&"%&"+'"'E-*I'3-"+,%&"?-)-D+%&+"3-(+D1%+@"+,D+",D&"I*-A+"%(+'"'2*"%(+-11%B-(+&%D""D(?"
+,-"A'/-*&c+,D+c>-G"+,-")D+D1%&+%I">-1%-)"+,D+"8(?%D(&"ID(('+"?'"D(@+,%(B"(-/"%("8(?%DO"
8+" %&" B''?" +'" *-D?" G" ,-D*" D(?" &--" /,D+" '+,-*&" ,DE-" ?'(-O" R'/-E-*" G" +,-"
I'(I12&%'(&"*-BD*?%(B"/,D+"%&"B''?")'*"'2*"I'2(+*@"D*-"+'">-"&,DA-?">@"'2*"'/("A-'A1-O"
W%+," +,%&" %(" 3%(?G" /-" &,'21?" 1''C" D+" ,'/" '+,-*" I'2(+*%-&" ,DE-" B-(-*D+-?" " E%&%'("
?'I23-(+&""')"+,-%*"'/(O!
I@;!!!W3%!!!06,!!!L-B9A;"
U,-" 7(%+-?" " <+D+-&" ')" #3-*%ID" %&" D" >%B" -I'('3@" +,D+" ,D&" B*'/(" 'E-*" +/'"
I-(+2*%-&"%(+'"D"3Da'*"%(?2&+*%D1G"I'33-*I%D1"D(?"3%1%+D*@"A'/-*O"8("D??%+%'("+'"D>2(?D(+"
(D+2*D1"*-&'2*I-&"D(?"+,-",D*?"/'*C"')"D("D?E-(+2*'2&"A-'A1-G" +,-"+/'"/'*1?"/D*&"D1&'"
,-1A-?" +,-" 7<#" " +'" ?-E-1'A" 3D(@" +-I,('1'B%ID1" " &+*-(B+,&O" U,-*-" /-*-" 3D(@"
-(+*-A*-(-2*&" "/,'"/'*C-?" ,D*?" +'" " *-D1%d-" " +,-%*" " E%&%'(" ^" X%I,D*?" 9*D(&'(G" #(?*-/"
HD*(-B%-G" 6-'*B-" 5D&+3D(G" U,'3D&" 5?%&'(G" R-(*@" _'*?G" ;%(B" 6%11-++-G" F--" 1D&ID*G"
W%11%D3"F-D*G"R-1-(D"X2>-("&+-%("D(?"*-I-(+1@"9%11"6D+-&G"+'"(D3-"D")-/O"
8+" %&" %(+-*-&+%(B" +'" ('+-" +,-" >DICB*'2(?" ')" &'3-" ')" +,-&-" B*-D+" DI,%-E-*&" O"
X%I,D*?" 9*D(&'(G" /,'" -&+D>1%&,-?" D(" -3A%*-" ')" " 32&%Ic*-1D+-?" A*'?2I+&" G" /D&" )*'3" D"
)D3%1@"')"1D/@-*&"D(?",%B,"&I,''1"?*'A'2+&O"#(?*-/"HD*(-B%-G"D"(D3-"&@('(@3'2&"/%+,"
+,-"#3-*%ID(" &+--1"D(?" ,D?" ('" )'*3D1" -?2ID+%'(O"R-(*@"_'*?G"/,'"/D&"D" )D*3-*Y&" &'("
/%+,"D"3'?-&+">DICB*'2(?G"('+"'(1@"-&+D>1%&,-?"+,-"1D*B-&+"I'3AD(@"')",%&"+%3-&">2+"D1&'"
*-E'12+%'(%d-?"3D(2)DI+2*%(B"+-I,(%b2-&O":(-"I'33'(")-D+2*-"')"D11"+,-&-"A-'A1-"%&"+,-%*"
I'33%+3-(+"+'"D"E%&%'("D(?"+-(DI%'2&",D*?"/'*C"')"D("-+,(%ID11@"?%E-*&-"A'A21D+%'("D(?"
B*-D+"(D+2*D1"*-&'2*I-&""+,D+""1-D?"+'"+,-""(D+%'(">-I'3%(B"+,-"/'*1?"(23>-*"'(-O"8+"/D&"
D1&'"?2-"+'"D"(D+%'(D1O"H,D*DI+-*%&+%I^"+'"*-I'B(%d-"+,-">-&+"D(?"+'"B-+"+,-">-&+"""'2+"')"+,-"
>-&+O"
U,-*-" /-*-" D(?" D*-" +,'2&D(?&" ')" &3D11c&ID1-" -(+*-A*-(-2*&" D(?" E-(+2*-"
IDA%+D1%&+&" /,'" ?D*%(B1@" %(E-&+-?" %(" +,-%*" )2+2*-" 3%&&%'(&O" U,-*-" /-*-" ,2(?*-?&" ')"
*-&-D*I,-*&" " )2-11-?" " >@"D" 1%)-+%3-"?-?%ID+-?" +'"-f+-(?%(B" +,-" )*'(+%-*&" "')" " &I%-(I-"D(?"
+-I,('1'B@O"8("D??%+%'(G"3D(@"I'3AD(%-&"'*">2&%(-&&"'*BD(%dD+%'(&"1%C-"0-*ICG"9-11"FD>&"
G"P0G""R-/1-++c4DICD*?G"0D*+%("0D*%-++DG"J2"A2(+G"H%+%I'*AG"/D1c3D*+G"890"D(?"H'3ADb"
,D?" D" E%&%'(" ')" 1'(Bc+-*3" ?-E-1'A3-(+&" D(?" %(E-&+-?" ,2B-" )2(?&" %(" *-&-D*I," D%3-?" D+"
+-I,('B%ID1" -fI-11-(I-" D(?" I'*-" &+*-(B+,&O" <2I," I'33%+3-(+" +'" D" 1'(Bc+-*3" E%&%'(" >@
PT"
#3-*%ID("I'3AD(%-&"I'(+%(2-?"?-&A%+-"+,-")DI+"+,D+"+,-*-"/-*-"D"(23>-*"')")D%12*-&O"U,2&"
%(" +,-" #3-*%ID(" &@&+-3" G" &2I," E%&%'(" %(" +-*3&" ')" +-I,('1'B%ID1" 1-D?-*&,%A" ,D?" >--("
%(+-*(D1%d-?"D+"ED*%'2&"1-E-1&"')""&'I%-+@G""%(I12?%(B""+,-""I'(&23-*&O"U,-*-)'*-G"+,-""*'1-"
')""+,-""B'E-*(3-(+""I'21?">-""I-(+-*-?"""D*'2(?""3Da'*""D*-D&""1%C-""?-)-(I-G""&ADI-"D(?"
D+'3%I""-(-*B@O"
[',(" " _O" ;-((-?@Y&" " E%&%'(" ')" D(" " #3-*%ID(" " '(" " +,-" " 3''(G" +,-" 7<#Y&"
I'3A-+%+%E-" " I,D11-(B-" +'" +,-" <'E%-+" 7(%'(Y&" )%*&+" -(+*@" " %(+'" " &ADI-G" %&" I'33'("
C('/1-?B-O"6D+,-*%(B"B'E-*(3-(+" "D(?""A2>1%I" "&2AA'*+" ">-,%(?"+,D+"'(-""E%&%'(""3D?-"
A'&&%>1-" " %+&" " *-D1%dD+%'(" " D(?" " D1&'" " A*'E%?-?" " &-E-*D1" " &A%(c'))" >-(-)%+&O" X-I-(+" 7<"
A*-&%?-(+&""D1&'""-3A,D&%d-""+,D+"&+*-(B+,&"%(""+-I,('1'B@""D*-""+,-"-(B%(-&"')"B*'/+,""D(?"
D"I*2I%D1""-1-3-(+"%(""A*'E%?%(B"" a'>&")'*"#3-*%ID(&O""4*-&%?-(+""H1%(+'("",D&"ID11-?"")'*"
-(-*B@"&-I2*%+@^"+'"">-""%(?-A-(?-(+""')"+,-"(--?"+'"%3A'*+"-(-*B@""&'2*I-&"">@""+,-""-D*1@"
AD*+" " ')" +,-" (-f+" I-(+2*@O" <'" *-&-D*I," D(?" " ?-E-1'A3-(+" " %(" " ED*%'2&" (-/" " D*-D&" " ')"
-(-*B@" D&" /-11" D&" " )'*" " -(-*B@" I'(&-*ED+%'(" " D*-" " >-%(B" &+-AA-?" 2AO" 0'&+" #3-*%ID("
&+*D+-B%I"3%1%+D*@""IDAD>%1%+%-&""D*-""D1&'"")'I2&-?"'(""-1%3%(D+%(B"'*""?*D&+%ID11@"?-I*-D&%(B"
?-A-(?-(I-" " '(" " )'*-%B(" B'E-*(3-(+&" " )'*" " ?-)-(&%E-" A2*A'&-" g+,-*-)'*-" " &'A,%&+%ID+-?"
D(?" >-++-*" +-I,('1'B%-&" " D*-" >-%(B" ?-E-1'A-?" D(?" ?-A1'@-?" " /,D+" " /D&" ?-3'(&+*D+-?"
?2*%(B""+,-"!\\!"621)"/D*""%&"'(-")DI-+"')""&2I,""IDAD>%1%+%-&O"
U,'2B,""%(""&'3-"D*-D&"%+&"1-D?"%&">-%(B"-*'?-?"">@"'+,-*&G""+,-""7<#"I'(+%(2-&"
+'" &-+" " +,-" DB-(?D" %(" "3D(@" )%-1?&" " ')" " +-I,('1'B@" "9D&-?" " '(" +,-&-" &+*-(B+,&" " %&" D1&'"
D++-3A+&" " +'" ?'3%(D+-" " +,-"/'*1?^" %(" A'1%+%I&G" I21+2*-G" +*D?-" D(?" %(" D13'&+" -E-*@" '+,-*"
&-I+'*O"
8("I'(+*D&+G" +,-"7;" M/,%I," '(-&" A*%?-?" %+&-1)" +,D+" +,-" " &2(" (-E-*" &-+"'(" " +,-"
9*%+%&,"-3A%*-N"(-E-*""?-I1D*-?""D(@"" 1'(B"k"+-*3"E%&%'(O"U,-"7;",D&"*-I-(+1@"",'/-E-*"
&+D*+-?"D"U-I,('1'B@"_'*-&%B,+O"4*'B*D33-*" &2AA'*+-?"">@" " +,-" "B'E-*(3-(+O"6-*3D(@"
,D&"D1&'" D?'A+-?"&'3-"-1-3-(+&""')""+,-""[DAD(-&-"+/-(+@c)%E-""@-D*""U-I,('1'B@"$%&%'("
5f-*I%&-"%(""A*'a-I+%(B""+,-""(D+%'(&"")2+2*-""A'&&%>%1%+%-&O"8("_*D(I-""+,-"B'E-*(3-(+",D&"
D1/D@&""A1D@-?"D"A*'DI+%E-"*'1-"%("?-E-1'A%(B"I'*-"+-I,('1'B@"&+*-(B+,&"%("3D(@"D*-D&"^"
3%1%+D*@G"D-*'&ADI-G"-1-I+*'(%I&G">%'+-I,('1'B@"D(?"DB*'c)''?"&-I+'*&O"U,%&"*'1-"I'(+%(2-&G"
D(?"_*D(I-"%&"?-+-*3%(-?"+'">-"D"3Da'*"/'*1?"A1D@-*"+,*'2B,"+,-"2&-"')">-++-*"+-I,('1'B@O"
02I,"&3D11-*"I'2(+*%-&"1%C-"_%(1D(?"/%+,"D"A'A21D+%'("')"a2&+")%E-"3%11%'("D1&'"-3A,D&%d-
PQ"
+,-%*" +-I,('1'B%ID1" &+*-(B+,&O" _%(1D(?" %&" D" " " 1-D?-*" %(" +,-" A*'?2I+%'(" ')" -I'c)*%-(?1@"
ADA-*G"""D(?""%("+-1-I'332(%ID+%'(&O"
#11" " +,-&-" E%&%'(&" ?*D/" '(" %(?%E%?2D1" *-&-D*I," A'*+&" )*'3" A*%ED+-" DB-(I%-&" D&"
/-11" D&" (D+%'(D1" B'E-*(3-(+&O" U,-" 52*'A-D(" 7(%'(" D1&'" A1DI-&" D" &+*'(B" -3A,D&%&" '("
+-I,('1'B%ID1" IDAD>%1%+@O" U'/D*?&" +,D+" -(?" %+" ,D&" &-+" 2A" D" (23>-*" ')" +-I,('1'B@"
)'*-ID&+%(B" %(&+%+2+%'(&" /,%I," " A*'?2I-" " *-B21D*" *-A'*+&O" #" I'33'(" )-D+2*-" ')" +,-"
I'(I12&%'(&"?*D/("%("D11"+,-&-"A2>1%ID+%'(&"%&"+,-"-3A,D&%&"'("+,-"DIb2%&%+%'("""')"%(+-*(D1"
IDAD>%1%+%-&"%("D*-D&"1%C-"D?ED(I-?"3D+-*%D1&G"-1-I+*'(%I&"D(?"""%()'*3D+%'("""+-I,('1'B%-&"G"
>%'+-I,('1'B@"G"D?ED(I-?"3D(2)DI+2*%(B"+-I,(%b2-&""/,%I,"%(I12?-"?-&%B(G"*'>'+%I&G"D(?"
H#JnH#0" MI'3A2+-*cD%?-?" ?-&%B(" D(?" I'3A2+-*cD%?-?" 3D(2)DI+2*-NO" #&" '(-" D2+,'*"
A2+&"%+G"+,-&-"D*-D&"')"+-I,('1'B@"D*-"I'33'(1@"DB*--?"2A'(")*'3"U'C@'"+'"9*2&&-1&"+'"
.-/"S'*CO"R'/-E-*G"+,-*-"D*-"&-E-*D1"ED*%D+%'(&"2("?-+D%1"D&"/-11"D&"%("+,-%*"-3A,D&%&"'("
'+,-*"+-I,('1'B%-&O"5DI,"I'2(+*@",D&"+'")%(?"%+&"'/(">D1D(I-"')"ED*%'2&""*-b2%*-3-(+&"O"
8(?%D",D&"D1&'"&%3%1D*1@")'2(?"%+&"'/(">D1D(I-"+,*'2B,"I'11-I+%E-"D(?"I*-D+%E-"
+,%(C%(B">@"'E-*")%E-"+,'2&D(?"A-'A1-"O"/-"/%11"&--"+,D+"&+'*@"%("+,-"&2>&-b2-(+"I,DA+-*&O"
8("+,%&"I,DA+-*&"G"/-"/%11"D(D1@d-"+,-"DAA*'DI,"')"'+,-*"I'2(+*%-&"/,%I,"ID("'))-*"2&"&'3-"
1-&&'(&^"0D1D@&%DG"H,%(DG"[DAD(G";'*-D"D(?""8&*D-1O!
X0.0G>D0"
J2*%(B" +,-"AD&+"?-ID?-"0D1D@&%D" ,D&" "3D?-"D"3D*C" %(" +,-"/'*1?O" 8+&"A-'A1-"D*-"
32I," >-++-*" '))" -I'('3%ID11@O" 8+" ,D&" &2II-&&)211@" >2%1+" 2A'(" +,-" /-D1+," ')" D" 3-*-"
A1D(+D+%'("-I'('3@"+'">-"('/"I'(&%?-*-?"'(-"')"+,-"%3A'*+D(+"%(?2&+*%D1%d-?"-I'('3%-&"
')" +,-" 3'?-*(" /'*1?O" U,%&" %&" >-ID2&-" ')" +,-" &,D*-?" E%&%'(" ')" %+&" A-'A1-cD" E%&%'("
D*+%I21D+-?">@"+,-"0D1D@&%D("A*%3-"3%(%&+-*G"0D*D+,%"0',D3-?O":(",%&"E%&%+" +'"8(?%D" %("
!\\]G"D+"'(-"')"+,-")2(I+%'(&"'*BD(%d-?">@"+,-"H'()-?-*D+%'("')"8(?%D("8(?2&+*%-&G",-"&D/"
B1%3A&-&"')"8(?%DY&"U-I,('1'B@"$%&%'("=K=K"+,*'2B,"D"321+%c3-?%D"A*-&-(+D+%'(O"R-"D1&'"
&D/"D"&A-I%D1"-f,%>%+%'("')"8(?%DY&"&2A-*"H'3A2+-*"#(2*D(G"D(?"+,-"H#JnH#0"&')+/D*-"
')" +,-" #-*'(D2+%I&" J-E-1'A3-(+" #B-(I@" M#J#NO" R-" D&C-?" b2-&+%'(&" D>'2+" +,-" I'&+c"
-))-I+%E-(-&&"')"I'3A'&%+-"3D+-*%D1"A*'?2I+&"D(?" +%+D(%23"A*'?2I+&O"R-" 1D+-*" &,D*-?" ,%&"
I'2(+*@Y&"U-I,('1'B@"3%&&%'("=K=K"/%+,"+,-"8(?%D("D2?%-(I-G"*-3D*C%(BG"h:2*"=K=K"D1&'"
3-D(&"A-*)-I+"E%&%'(G"h*-3%(?%(B"2&"+,D+",-"/D&"'*%B%(D11@"D"A,@&%I%D(O
P]"
0D1D@&%D",D&" )*D3-?"D"&+*D+-B%I"3D&+-*"A1D("+'">-I'3-"D" )211@"?-E-1'A-"" (D+%'("
>@" +,-" @-D*" =K=KO" U,%&" ID11&" )'*" I'(I-*+-?" ?-E-1'A3-(+" %(" D11" D*-D&c-I'('3%IG" &'I%D1G"
A'1%+%ID1G"&A%*%+2D1G" A&@I,'1'B%ID1""""D(?""""I21+2*D1O"U,-""">D1D(I-?"""?-E-1'A-?""""')""""+,-"
(D+%'(""-(I'3AD&&%(B"""h%+&"""(D+2*D1""""-(E%*'(3-(+"""*-b2%*-&""""D""""&+*'(B""HDAD>%1%+@"""%("
&I%-(I-"""D(?"""+-I,('1'B@YG"D&"""0D*D+,%""""0',D3-?"""42+&"""%+O"U,-"""0D1D@&%D(""")'I2&"
%&"""('+"""'(1@"""'("""+,-"""3Da'*"""3D(2)DI+2*%(B""""&-I+'*&""""/%+,""",-DE@"""%(?2&+*%-&G""&2I,"
D&"""&+--1"""D(?"""I'*-"""3D(2)DI+2*%(B""""D(?"""A-+*'1-23""""D(?"""I,-3%ID1" &-I+'*&c%+"
D1&'" " ""I'(I-(+*D+-&" " " "'(" " "D?ED(I-?"" " "3%I*'c-1-I+*'(%I&G"I'(&23-*" "B''?&G""I'3A2+-*&"
D(?"""+-1-I'332(%ID+%'(&O""U,-""""0D1D@&%D("""E%&%'(""""-(E%&DB-&""""D""""*'1-"""")'*""")'*-%B("
?%*-I+"""%(E-&+3-(+O""8+"""D1&'"""/D(+&"""+'"""DI,%-E-"""I'3A1-+-"""?-&%B(""""IDAD>%1%+@"""D(?"""+'"
3D(2)DI+2*-""""A*'?2I+&""""2&%(B""""%(?%B-('2&"""-fA-*+%&-O"U,%&"""-3A,D&%&"""%&"""%3A'*+D(+"^"
+,-"""D>%1%+@"""+'""?-&%B("""'("""@'2*"""'/(""D(?"""3D(2)DI+2*-"""A*'?2I+&"""+'"""@'2*"""?-&%B("
%&""D"""I*2I%D1" %(?%ID+'*"""')"""h?-E-1'A-?Y"""IDAD>%1%+@O"
8(" " " " +,-" " "B''?&" " " D(?" " " &-*E%I-&" " " &-I+'*&G" " +,-" " " D%3" " %&" " +'" " -(,D(I-" " "$D12-"
D??%+%'(""" %(""+,-"""A*'?2I+%'("""D(?""""?-1%E-*@"""')"""B''?&O""U,-"""#*-D&"""+D*B-+-?""">@"
0D1D@&%D"""D*-"^"D?ED(I-?"""3D+-*%D1&"M/,%I,""%&"""W,@"""+,-""0D1D@&%D("""A*%3-"""3%(%&+-*"
D&C-?"""b2-&+%'(&"""D>'2+"""#?ED(I-?""""I'3A'&%+-&"""D(?""""+%+D(%23""""A*'?2I+&NG""D?ED(I-?"
3D(2)DI+2*%(B""""+-I,('1'B%-&G"""3%I*'-1-I+*'(%I&G""%()'*3D+%'(""+-I,('1'B%-&"""D(?""-(-*B@"
+-I,('1'B%-&O"8(""%+&""A1D(&""")'*"""&I%-(I-""D(?"""+-I,('1'B@G""+,-"""0D1D@&%D(""""B'E-*(3-(+"
-(E%&DB-&""""D"""""?'2>1%(B""')"""+,-"""A-*I-(+DB-""""')""""6J4""""?-E'+-?"""+'"""*-&-D*I,O""U,-"
E%&%'(""D*+%I21D+-&"""+,-""""&+*D+-B%-&""""+,*'2B," /,%I,"""0D1D@&%D""""D&A%*-&""""+'""">-""%("
+,-""")'*-)*'(+"""')" ""I-*+D%(" ""D*-D&" ""')" """+-I,('1'B@G""('+""""3-*-1@"" ""D&" ""D"" "" 1-D?%(B"
-fA'*+-*""""')"""+-I,('1'B@c%(+-(&%E-"""A*'?2I+&G"">2+"""D1&'""D""""B-(-*D+'*""""')""""D""")-/"
3Da'*" " " +-I,('1'B%-&" " " " %(" " " "3%I*'-1-I+*'(%I&" " " D(?" " " " %(" " " &-E-*D1" " "'+,-*" " " D*-D&O" "U,-"
E%&%'(" " " D1&'" " " A*'E%?-&" " " D" " " B1%3A&-" " " ')" " " +,-" " " *'1-&" " " ')" " " " ED*%'2&" " " " *-B%'(&" " " ')"
0D1D@&%D"""D(?"""&'3-"""')"""%+&""">%BB-*"""?*-D3&"""')""">-I'3%(B"""D"""321+%c3-?%D" &2A-*"
I'**%?'*O
8(" " " "D??%+%'(G" +,-" " "E%&%'(" " " "D??*-&&-&" " " " *-1-ED(+" " " "-(E%*'(3-(+D1" " "#&A-I+&O" " 8+"
A'%(+&"""'2+""""+,D+"""?-&A%+-""""*DA%?""""A*'B*-&&G"0D1D@&%DY&""")'*-&+"""*-&'2*I-&""",DE-"""('+"
>--(""""&DI*%)%I-?"""D(?"""]K""A-*""I-(+"""')"""""+,-"""1D(?"""" %&"""&+%11""" )'*-&+O""U,-""E%&%'("
-(E%&DB-&" " " D" " " &+*'(B" " " I'33%+3-(+" " " " +'" " " " hB*--(Y" " A'1%I%-&" " " D(?" " " " %+" " " &+D+-&" " +,D+
PL"
-(E%*'(3-(+D1""""A*'>1-3&"""ID(('+""">-"""?-D1+"""/%+,""""2(%1D+-*D11@""""'*"""-E-(""">%1D+-*D11@g"
+,-@"""32&+"""">-""DAA*'DI,-?""",'1%&+%ID11@"""D(?""321+%1D+-*D11@O""U,-""3D(@""")DI-+&"""')"
%()*D&+*2I+2*-"""""?-E-1'A3-(+"""""D*-""""D1&'""""D"""AD*+"""')"""0D1D@&%DY&"E%&%'(O""U,%&"""(D+%'("
%&" " " +DC%(B" " " I'(&+D(+" " " "3-D&2*-&" " " +'" " " ?*23" " " 2A" " +,-" " " -(+,2&%D&3" " " " ')" " " " ED*%'2&"
%(+-*-&+-?"""""AD*+%-&""""%("""*-D1%d%(B"""+,%&"""E%&%'(O""8+&""A*-&-(+""""-3A,D&%&"""%&"""'(""DI+%'(O!
?@D60"
8+"""%&""?%))%I21+"""+'""I'3AD*-"" "I'2(+*%-&"">-ID2&-""""ED*%'2&""")DI+'*&"""&2I,"""D&"
&%d-" G" I21+2*-G" ,%&+'*@G" B-'B*DA,@G" (D+2*D1" " " -(?'/3-(+&G" " B-'A'1%+%I&" " " D(?" " %(+-*(D1"
A'1%+@" " " I'3-" " " %(+'" " "A1D@O" "U,-*-" " " D*-" " &'3-" "B'D1&" " "/,%I," " " ID(" ">-" "DI,%-E-?" " ">@"
&3D11-*"""I'2(+*%-&g"">2+"""&'3-+%3-&""&3D11-*"""I'2(+*%-&""""")%(?"""%+"""?%))%I21+""""+'"""-3>D*C"
2A'("""I-*+D%(""">%B"""+-I,('1'B%ID1"""A1D(&"""-E-("""%)""+,-@""",DE-"""+,-""")2(?&""">-ID2&-"
+,-" " &%d-" ')" " " +,-" " " ?'3-&+%I" " "3D*C-+" " " %&" " " +''" " &3D11O" 8)" "/-" " I'(&%?-*" " +,-" " " >%BB-*"
I'2(+*%-&G""+,-""I1'&-&+"""I'3AD*%&'("""+'"""8(?%D"" " %&"""I,%(DG""+,'2B," +,-*-"""D*-""3D(@"
I*2I%D1"""?%))-*-(I-&O"
U,-""""H,%(-&-"""E%&%'("""%&""+'"""A*-AD*-"""+,-"""I'2(+*@""")'*"""-(+*@"""%(+'""+,-"""*D(C&"
')""""3%?c1-E-1""""?-E-1'A-?""""(D+%'(""">@"""+,-"""3%??1-"""')"""+,-""+/-(+@c)%*&+""I-(+2*@O"
#II-1-*D+%'("""')"""+,-"""(D+%'(Y&"""-I'('3%I""B*'/+,""""D(?""""+-I,('1'B@"""%&""""A%E'+D1""""%("
+,%&O"
J'I23-(+&" " " " ?-&I*%>%(B" " " " +,-" " "H,%(-&-" " " E%&%'(" " " &+D+-" " " +,D+" " " &I%-(I-" " D(?"
+-I,('1'B@" " " I'(&+%+2+-" " " A*-3%-*" " " " A*'?2I+%E-" " " )'*I-&" " " D(?" " " *-A*-&-(+" " " " D" " " B*-D+"
*-E'12+%'(D*@"""A'/-*"""+,D+"""ID("""A*'A-1"""-I'('3%I&"""D(?""&'I%D1"""?-E-1'A3-(+O""8+""%&"
%(+-*-&+%(B"""+'""('+-""+,D+""+,-""3D%(""1-&&'(&""+,-""H,%(-&-",DE-"""?*D/("")*'3"""+,-%*"""AD&+"
A-*)'*3D(I-""""%&"""+,-%*""")D%12*-"""+'" A*'3'+-""&I%-(I-"""D(?"""+-I,('1'B@""""D&"""&+*D+-B%I"
+''1&""")'*"""-3A'/-*3-(+O""U,-@""D1&'"""A'%(+"""+'""+,-"""D>&-(I-"""')""""3-I,D(%&3&""D(?"
3'+%ED+%'("""%(""+,-%*""-I'('3%I"""DI+%E%+@""+'"""A*'3'+-"""?-A-(?-(I-"""'("""&I%-(I-"""D(?"
+-I,('1'B@O" <%3%1D*1@G""+,-@"""",'1?""""+,D+"""+,-%*"""&I%-(+%)%I"""D(?"""+-I,('1'B%ID1"""-))'*+&"
/-*-""('+""""'*%-(+-?"""+'/D*?&"""-I'('3%I"""B*'/+,O"#&"""D""I'(&-b2-(I-&G"+,-@"""I'(I12?-G"
D" " 1D*B-" " " " (23>-*" " " "')" " " &I%-(+%)%I" " " D(?" " " +-I,('1'B%ID1" " " DI,%-E-3-(+&" " "/-*-" " " ('+"
I'(E-*+-?"""%(+'"""A*'?2I+%E-""")'*I-&"""D&"""+,-@"""/-*-"""+''""")D*"""*-3'E-?""")*'3"""H,%(DY&"
%33-?%D+-"""-I'('3%I"""D(?"""&'I%D1"""(--?&O""U,-""H,%(-&-""E%&%'("""%&""+,-*-)'*-"""D%3-?
PV"
D+"""-fA1'%+%(B"""&+D+-c') k+,-cD*+""&I%-(I-""D(?" +-I,('1'B@"""+'""-(,D(I-&""""+,-"""(D+%'(Y&"
'E-*D11"""A'/-*"""D(?""""&+*-(B+,G""+'"""%3A*'E-""""+,-""""A-'A1-Y&"""1%E%(B"
&+D(?D*?G"""+'""")'I2&""'("""*-&'1E%(B"""A*'>1-3"""-(I'2(+-*-?"""%(""1D*B-c&ID1-""""%(?2&+*%D1"
D(?"""DB*%I21+2*D1"""A*'?2I+%'(G" D(?"""+'"""-))-I+%E-1@""""I'(+*'1""""D(?"""D11-E%D+-"""A*-&&2*-&"
>*'2B,+""""'(""">@"""A'A21D+%'(G""*-&'2*I-&G"D(?""+,-"""-(E%*'(3-(+O""9@""+,-"""@-D*"""=KKKG"
I,%(D"""D%3&"""D+""">*%(B%(B""""+,-"""3D%("""%(?2&+*%D1"""&-I+'*&"""2A"""+'""+,-""+-I,('1'B%ID1"
1-E-1"""DI,%-E-?"">@"""+,-""?-E-1'A-?"""I'2(+*%-&"""%(""+,-""!\LK&""'*""VK&G""D(?""">@""=K=K""+'"
+,-"""1-E-1"""+,-@"""/'21?""",DE-"""D++D%(-?""">@""+,-""-D*1@""+/-(+@c)%*&+"""I-(+2*@O""U,-"""D%3"
%&""+'"">*%?B-"""+,-"""'E-*D11"""BDA"""/%+,""""+,-"""D?ED(I-?"""/'*1?O""U,-*-"""%&"""D""&A-I%D1"
-3A,D&%&"""'(""*-&-D*I,""D(?""?-E-1'A3-(+"""')""",%B,"""+-I,('1'B%-&"""+,D+"""/'21?""")%(?"
?-)-(I-"""DAA1%ID+%'(&O""<'3-"""')"""+,-&-"""+-I,('1'B%-&""D*-"""I*%+%ID1""")'*"""%3A*'E%(B"""+,-"
)-D+2*-&" " "')" " " "C-@" " " I'(E-(+%'(D1" " " "/-DA'(&O"<'3-" " +-I,('1'B%-&" " " " D*-" " "3-D(+" " " )'*"
-(,D(I%(B""")2+2*-"""3%1%+D*@"""IDAD>%1%+%-&O"":+,-*""""-))'*+&"""D*-""D%3-?""""D+"""3D%(+D%(%(B"
+,-" " " " 3'3-(+23" " " +'" " " ?-E-1'A-?" " " IDAD>%1%+%-&" " " )'*" " " I2++%(Bc-?B-" " " ?-)-(I-"
+-I,('1'B%-&O"U,-@""""ID11"")'*"""2(*-3%++%(B"""-))'*+&"""%("""+,%&"""*-BD*?"""/%+,""+,-"""D%3""')"
3D%(+D%(%(B"" " "-))-I+%E-"" " "&-1)"k?-)-(I-" "D(?"" "(2I1-D*" "?-+-**-(+" " "IDAD>%1%+%-&G" "D(?"" +'"
-(D>1-""AD*%+@""%(""?-)-(I-G"&I%-(I-""D(?""+-I,('1'B@"""/%+,"""+,-""D?ED(I-?"""/'*1?O"
U,-"""""2(?-*1@%(B"""A*%(I%A1-""%&"""+,D+"""-I'('3%I"""B*'/+,""32&+""">-"""?*%E-(""">@"
&I%-(I-""""D(?""""+-I,('1'B@""""D(?"""&I%-(+%)%I"""D(?"""+-I,('1'B%ID1"""A*%(I%A1-&""""32&+""">-"
B-D*-?"""+'""-I'('3%I&"""B*'/+,G""&'" D&""+'""")'&+-*"""+,-"""",D*3'(%'2&""""?-E-1'A3-(+"""')"
>'+,O"
<'3-"""B1%3A&-&"""')"""+,-"""H,%(-&-""""E%&%'("""?'I23-(+&"""D*-""%(""'*?-*""",-*-G"D&"
+,-@"""*-1D+-&"""+'"""ED*%'2&"""&-I+'*&"""')"""+,-"""H,%(-&-"""-I'('3@O"U,-&-"""D*-"^
•" :A-(""""D11"""DE-(2-&"""")'*"""(-/"""&'2*I-&"""')""")''?"""D(?"""?-E-1'A"""(-/"
A*'+-%(""""*-&'2*I-&""""D(?""""3%f-?""""D(%3D1""")--?&O"J-E-1'A""?%E-*&%)%-?"
)''?" " " " A*'?2I+%'(" " " D(?" " " A1D(+&" " " *-&'2*I-&" " " )'*" " +,-" " " A2*A'&-" " " ')"
%3A*'E%(B"""+,-"""?%-+" ')"""2*>D("""D(?""""*2*D1"""*-&%?-(+&O
•" UDC-""")211"""D?ED(+DB-"""')""",@>*%?"""D(?"""B-(-+%I"""-(B%(--*%(B""+-I,(%b2-&"
+'" " " &I*--(" " " D(?" " ">*--?" " " "(-/" ",%B,c@%-1?G" )%(-" " "b2D1%+@G" D?E-*&%+@c)*--"
D(%3D1"""D(?"""A1D(+"""ED*%-+%-&O
P\
•" <+*-(B+,-(" " " *-&-D*I," " " D(?" " " ?-E-1'A3-(+" " " ')" " " ED*%'2&" " -1-3-(+&" " " +'"
?*D&+%ID11@"""%(I*-D&-""""+,-"""b2D1%+@""D(?""@%-1?"""')"""DB*%I21+2*D1""""A*'?2I+&O
•" 5b2%A"""DB*%I21+2*-""D(?"""+'/(&,%A"""-(+-*A*%&-&"""/%+,"
0'?-*(""""%(?2&+*%D1"""+-I,('1'B%-&G""?-E-1'A"""+-I,('1'B%-&"""_'*"""&+'*DB-G"
&A'*+G" A*'I-&&%(BG" ADICDB%(BG" " D(?" " " " H'3A*-,-(&%E-" " " " 2+%1%dD+%'(" " " ')" " DB*%I21+2*D1"
A*'?2I+&O
•" 62%?-"+,-"""?%E-*&%'(""')"""&2*A12&"""*2*D1"""1D>'*"""""+'"""+,-"""""?-E-1'A3-(+"
')"D"*2*D1"""I'33'?%+@""""-I'('3@O
•" #II-1-*D+-&"""*-&-D*I,"""D(?"""?-E-1'A3-(+"""')"""I'*-""""+-I,('1'B%-&""""")'*"
,-DE@c?2+@"""*D%1""""+*D(&A'*+"""D(?"""*DA%?""AD&&-(B-*"""+*D(&%+""""1%(-&""""'E-*"
=KKC3"n",'2*O
•" <+*-(B+,-(" " +,-" " " +-I,('1'B%ID1" " " D(?" " " " %(?2&+*%D1" " " IDAD>%1%+%-&" " " )'*"
-1-I+*'(%I&""""-b2%A3-(+"""D(?""""3DI,%(-"""+''1&O
•" 8(I*-D&-""""*D+-"""')"""%(('ED+%'("""%(""+,-""")%-1?"""')"""3DID*'(%&O
•" 8(I*-D&-""""&I%-(I-"""D(?"""+-I,('1'B@""""%(A2+&"""+'"""+,-"""I'(&23-*"""B''?&"
%(?2&+*@O""83A*'E-" +,-"""+-I,(%ID1"""1-E-1"""')"""E%11DB-""""D(?"""""+'/(&,%A"
,'2&%(B""""I'(&+*2I+%'(G"""?-&%B("""D(?"""3D(DB-3-(+O
•" 7AB*D?-"""+,-"""+-I,(%ID1"""1-E-1"""')"""&'I%D1"""D(?"""A2>1%I""")DI%1%+%-&""""D(?"
&-*E%I-"""%(?2&+*@O
•" 0%I*'c-1-I+*'(%I&" " " D(?" " " " I'3A2+-*" " " +-I,('1'B%-&^" " DII-1-*D+-" " +,-"
?-E-1'A3-(+""""')""""3%I*'(""""D(?"""&2>c3%I*'("""&%1%I'(""%(+-B*D+-?"""I%*I2%+&"
?-&%B(G" " " 3D(2)DI+2*%(BG" " D(?" " +-&+%(B" " I-(+-*&" " " D(?" " " 'A+c-1-I+*'(%I"
%(+-B*D+%'("""+-I,('1'B%-&g""&2A-*"""",%B,cA-*)'*3D(I-"""AD*D11-1""""I'3A2+-*&"
D(?"""I'33-*I%D1"""&')+/D*-""""-(B%(--*%(Bg""(-/""""B-(-*D+%'("""I'3A2+-*&g"
D*+%)%I%D1"""%(+-11%B-(I-g"*'>'+%I&"""+-I,('1'B@O
•" 7&-"""')""">%'+-I,('1'B@"""D&""D"""A'/-*)21"""3-D(&""')"""D??*-&&%(B""""")''?G"
,-D1+,G""*-&'2*I-&G"-(E%*'(3-(+D1G""D(?"""'+,-*"""3Da'*"""A*'>1-3&O
•" #?ED(I-?""""3D+-*%D1&"""+-I,('1'B@"""+'"""3DC-"""">*-DC+,*'2B,&""""D(?"""+'"
>*%(B""""D>'2+"""")2(?D3-(+D1""""I,D(B-&O
•" #-*'&ADI-""""+-I,('1'B@^""3D((-?""""&ADI-""")1%B,+""""D(?"""3D%(+D%(%(B""D("
%(+-*(D+%'(D1"""A'&%+%'("""%("""+,-""")%-1?O
TK
•" J-E-1'A" " " " " D" " " "(-+/'*C" " "')" " " "BD&" " " "A%A-1%(-&" " " +'" " "3--+" " " "B*'/%(B"
-(-*B@""""?-3D(?O
•" <'2*I-"""""-(-*B@"""""&2AA1%-&""""'E-*&-D&O"
#&" " " " %&" " "&--(" " %(" " +,-"" 1D+-*" " "I,DA+-*&" "')" " " +,%&" " ">''CG" " +,-*-" " "D*-" " "D" "(23>-*" " " "')"
I'33'("""-1-3-(+""""%("""+,-"""H,%(-&-"""1'(Bc+-*3"""A1D(&"""D(?"""+,-"""E%&%'("""+,D+"""",D&"
-3-*B-?""")'*"""8(?%DG"""+,'2B,"""+,-&-""",DE-""">--("""D**%E-?"""D+"""%(?-A-(?-(+1@"""')"""-DI,"
'+,-*O!
*0A06"8(" " " "3D(@" " "/D@&G" [DAD(" " " ID(" " " >-" " " I'(&%?-*-?" " " +,-" " " I'2(+*@" " " " +,D+" " " ,D&"
A%'(--*-?"""+,-"" "&@&+-3D+%dD+%'("" ""')" ""D" "" 1'(Bc+-*3""""+-I,('1'B%ID1"" "E%&%'("""')" ""+,-"
I'2(+*@" " " D&" " "/,'1-G" " D(?" " +*D(&1D+-?" " " %+&" " " E%&%'(" " " %(+'" " " *-D1%+@" " " +,*'2B," " " +*D?%(B"
DB-(I%-&G"""%(?2&+*@G""1D>'*D+'*%-&G""2(%E-*&%+%-&G"")%(D(I%D1"""%(&+%+2+%'(&""D(?""B'E-*(3-(+"
DB-(I%-&O""U,-"""[DAD(-&-"""&I%-(I-""""j"""U-I,('1'B@"""#B-(I@"""",D&"""A-*)-I+-?" ED*%'2&"
&2*E-@%(B"""+-I,(%b2-&"""+'"""D&&-&&""""/,D+""""+,-"""[DAD(-&-"""-fA-*+&"")'*-ID&+""D&""")2+2*-"
-E-(+&"""D(?"""A'&&%>%1%+%-&""")'*""D""A-*%'?"""')"""+/-(+@c" )%E-""""@-D*&O""<+D*+%(B"""/%+,"""+,-"
@-D*&""")*'3"""!\LK"""+'"Y\QG""+,-*-"""%&""+'"">-"""D""""*-E%&%'("""-E-*@""")%E-"""@-D*&O""U,-"
1D+-&+"""?'I23-(+"""DED%1D>1-"""%&""hU,-""""_%)+,"""U-I,('1'B@"""_'*-ID&+"""<2*E-@"^"_2+2*-"
U-I,('1'B@"""%("
[DAD("" " "U'/D*?&" " " +,-"" " "@-D*" " "=K=KY" ">@" " +,-"" ".D+%'(D1" "8(&+%+2+-" " "')" "<I%-(I-" " " D(?"
U-I,('1'B@"""4'1%I@""n""<I%-(I-"""D(?"""U-I,('1'B@"""#B-(I@"""M[DAD(N""D(?""+,-"""%(&+%+2+-"
)'*""_2+2*-""U-I,('1'B@O""8+"""?%E%?-&""+-I,('1'B%ID1"""D*-D&"""%(+'"""+,-""")'11'/%(B""">*'D?"
,-D?%(B&""M&-I"+D>1-"""=O!G">-1'/N^"
U#9F5"""=O!!X0=;BD0.>!!06,! D6J9B10=D96!!!!06,!!!!!!!!!!!!!!!!.DJ;!!!!!>7D;67;!!!!!!!!!!9-=;B!!>A07;"4*'I-&&%(B"""""""""""""""""""""""-1-I+*'(%I&"4D*+%I1-&"""""""""""""""""""""""""""""0D*%(-""&I%-(I-""""""""""""""""""""""3%(-*D1""D(?""""""""""""""""-(-*B@"
D(?""-D*+,""&I%-(I-"""""""""""""""""""/D+-*"*-&'2*I-&"
5(E%*'(3-(+"""""""""""""""""""""""#B*%I21+2*-G" 4*'?2I+%'(""""""""""""""""7*>D(Dc")'*-&+*@G"D(?"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""(D+%'("D(?")%&,-*%-&" I'(&+*2I+%'("
H'332(%ID+%'(&""""""""""""""""U*D(&A'*+D+%'(""""""""""""""""""""""""R-D1+,""D(?""""""""""""""""F%)-&+@1-&"3-?%ID1""ID*-""""""""""""""""""D(?"
I21+2*-
T!"
U,-" " +-I,('1'B%ID1" " "A'&&%>%1%+%-&G" "3'&+1@" "B%E-(" " " D&" " D" "?-)%(-?" " " -(?c" *-&21+" " "'*"
DAA1%ID+%'(&G""D*-""1%&+-?"""/%+,""")%B2*-&""%(?%ID+%(B"""+,-""A*'>D>1-"""@-D*"""')"""'II2**-(I-G"
D&" "A-*"" "+,-"""D(D1@&-&" "" "')"" """-fA-*+"""'A%(%'(&O""U,-"")1D+(-&&""'*"""&,D*A(-&&" "')""+,-"
B*DA,&"""%(?%ID+-&"""/,-+,-*"""+,-"""-fA-*+"""'A%(%'(&"""ED*@"""&%B(%)%ID(+1@"""'*"""D*-"""(-D*1@"
2(D(%3'2&O""U,-&-""")'*-ID&+&G"3-+,'?'1'B%-&""")'*"""/,%I,""",DE-""">--("""A-*)-I+-?"""'E-*"
3'*-" " " +,D(" " +/'" " "?-ID?-&G" " D*-" " E-*@" " " &+*'(B1@" " "'*%-(+-?" " " %(" " " +-*3&" " "')" " " [DAD(Y&"
?'3-&+%I" " " I'(&23A+%'(" '*" " " -f+-*(D1" " +*D?-O"U,-&-" " (D+%'(D1" " " 1-E-1" " " )'*-ID&+&" " " D*-"
%(+-*(D1%d-?""""%("""3D(@"">2&%(-&&-&G""%(?2&+*%-&"""D(?"""%(&+%+2+%'(&"""+'"""2(?-*A%("""+,-%*"
A1D(&"""')""""DI+%'(O""8+""%&""*-3D*CD>1-"""+,D+"""+,-"""(D+%'("""%&"""B-D*-?"""D+"""ED*%'2&""1-E-1&"
+'""">-"""*-D?@""")'*"""3--+%(B""""+,-""""I,D11-(B-&"""')"""+,-""")2+2*-"""D&"""-(E%&%'(-?""">@"
-fA'*+&O"
8)" " " "/-"" " 1''C""D+" ""+,-""ID&-"" "')" " "[DAD(G" "+,-*-" "D*-" "" "3D(@"" " %(?%I-&" " +,*'2B,"
/,%I,"""[DAD(-&-"""B*'/+,""ID("">-"""a2?B-?"""D(?"""?-A%I+-?O"U,-&-"""D*-""+,-"""6.4G"6J4"
'*"A-*""IDA%+D"""-fA'*+"""B*'/+,O"U,%&""6*'/+,""",D&"">--("""DI,%-E-?"""%("""D""&,'*+"""A-*%'?G"
D""+-&+%3'(@""+'""+,-"""[DAD(-&-"""E%&%'(""O"#("""%3A'*+D(+"""-1-3-(+"""/,%I,"""",D&"""">--("
>'+,""+,-"""ID2&-""D&"""/-11""D&"""+,-"""-))-I+""""')"""[DAD(Y&"""B*D(?"""E%&%'(G""%&"""+,-"""D>%1%+@"
+'"""?-D1"""/%+,"""+-I,('1'B%-&O"[DAD("""3D?-"""?-E-1'A3-(+"""')"""%(+-*(D1"""IDAD>%1%+@""")'*"
+-I,('1'B%-&"""D("""-&&-(+%D1"""I'3A'(-(+""%("""-E-*@"""AD*+"""')""""%+&"""E%&%'(O"
8("""+,-"""&%f+%-&G""+,-"""[DAD(-&-"""/-*-"""('+""+-I,('1'B%ID1""""1-D?-*&O""8("")DI+G"
[DAD(-&-" " "A*'?2I+&" "?2*%(B" " " +,D+" " "A-*%'?" " "/-*-" "C('/(" " "3'*-" " " )'*" " " +,-%*" " "A''*"
b2D1%+@O"U,-" "I'2(+*@" " ,D?" " +'" " " %3A'*+" " " +-I,('1'B%-&" " %(" " D" " "3Da'*" " "/D@O" "92+" " " +,-"
[DAD(-&-" " " "3D?-" " " %+" " " D" " " A'%(+G" "3'&+1@" " " +,*'2B," " " E'12(+D*@" " " DI+%'(" " " " >@" " " +,-%*"
%(?2&+*%-&"""D(?""""B'E-*(3-(+"""DB-(I%-&G""+'"""%(E-&+""D>'2+""")'2*"""+%3-&"""3'*-"""+'/D*?&"
+,-%*""'/("""+-I,('1'B@""""?-E-1'A3-(+""")'*"""-E-*@"""2(%+"""')"""3'(-@"""+,-@""&A-(+"" %("
%3A'*+%(B"""+-I,('1'B@O""U,%&"""/D&"""3-D(+""+'"""?-E-1'A""" %(+-*(D1""+-I,('1'B%ID1"""I'*-"
I'3A-+-(I%-&""" %("""+,-%*"" %(?2&+*%-&""D(?""" %(&+%+2+%'(&O"":E-*"""D" "A-*%'?""')""D>'2+""+/'"
?-ID?-&" +,-@""",DE-"""*-DI,-?""+,-"""&+D+2&"""')"""D"""(-+"""-fA'*+-*"""')""+-I,('1'B@"""D(?"
>-I'3-"""'(-""')""+,-"""/'*1?Y&"""B*-D+"""-I'('3%I""A'/-*&G""+,'2B,""+,-%*"""'/("""(D+2*D1"
*-&'2*I-&"""D*-"""A*DI+%ID11@""""(-B1%B%>1-"""%("""3'&+"""&-I+'*&O"
#&" " " &,'/(" " " %(" " " )%B2*-" " =O!G" " %(" " " !\LQG" " [DAD(Y&" " " >%11" " " )'*" " " %3A'*+" " " ')"
+-I,('1'B%-&" " " "/D&" " "I1'&-"" "+'" ""=K" ">%11%'(" " "@-(G" "D(?"" "*-I-%A+&" "')" "3'(-@"" " +,*'2B,
T="
-fA'*+"""')"""+-I,('1'B@"""/D&""D*'2(?""Q">%11%'(""@-(O"[DAD("",D?""D""?-)%I%+"""')"""D>'2+""!Q"
>%11%'(""@-(""%(""+-I,('1'B@"""+*D?-""%(!\LQO""%3A'*+&""%(I*-D&-?"""D&""+,-""-I'('3@"""/D&"
B*'/%(B"O"">2+""%+&"""-fA'*+""')""+-I,('1'B@""">-BD("""+'"""%(I*-D&-""32I,""")D&+-*G""-&A-I%D11@"
)*'3""!\V]cVL"""'(/D*?&"&'""32I,""&'""+,D+" %("""!\\Q""[DAD(-&-""-fA'*+"""')"""+-I,('1'B%-&"
D3'2(+-?""+'""Q]O=="">%11%'(""@-(G""D(?"
%3A'*+&"""&+''?"""D+"""P\O!L""">%11%'("""@-(O"""#&"""%(?%ID+-?""""%(""")%B2*-""=O=G""D)+-*"""D""")-/"
2A&"""D(?"""?'/(G""[DAD(""",D&"" ",D?""" "D"""I'(+%(2'2&"""+*D?-"""&2*A12&"" " %("""+-I,('1'B@"
&%(I-"""!\\PO"""%(""")DI+G""%+"""?%?"""DI,%-E-""""D"""+*D?-"""&2*A12&"""D""")-/""""@-D*&""""-D*1%-*G"
>2+""%+""")-11"""&2>&-b2-(+1@O""U,-("""-fA'*+&"""D(?"""%3A'*+&"""">-I'3-"""-b2D1O""".'/G""+,-@"
,DE-"""DI,%-E-?"""D""""E-*@"""I1-D*"""3D*B%("""')""-fA'*+&""""'E-*"""%3A'*+&O"
U,-%*""""&+*D+-B@""")'*"""-fA'*+c%3A'*+""%&"""('+"""a2&+"""'(-"""+'"""'(-O""W,-(""""+,-@"
%3A'*+""")*'3"""D""I'2(+*@G""+,-@"""?'""('+"""(-I-&&D*%1@""",DE-"""+'"""-fA'*+"""">DIC"""+'"""+,-
TP"
&D3-"" "I'2(+*@" " " " %(" " " +,-"" "&D3-"" "3'?-G" ">-ID2&-"" "D" "E%&%'("" "&,'21?" " "D1&'" " ",DE-"" "D"
I-*+D%(" " " *-D1%&3O" "U,-%*" " " 1'(B" k+-*3" " " B'D1"/D&" +'" " " >-I'3-" " " D" " (-+" " -fA'*+-*" " "')"
+-I,('1'B@O"""X-D1%d%(B"""+,D+""+,-@"""/-*-"""('+"""D,-D?"""%("""3D(@"""D*-D&""%("""+,-"""!\]K&"
D(?"""hLK&G"""[DAD(Y&"""&+*D+-B@"""/D&"""+'"""-fA'*+"""+'""""I'2(+*%-&"""1-&&"""?-E-1'A-?"""+,D("
%+"""D(?"""+'"""%3A'*+""")*'3"""I'2(+*%-&""""/,%I,""/-*-"""3'*-"""?-E-1'A-?G""+'"""I'(+%(2-"""+'"
2&-"""+,-3G"%3A*'E-"""2A'("""+,-3"""D(?""-fA'*+"""A*'?2I+"""+'"""+,-"""D?ED(I-?"""I'2(+*%-&"
D&" "/-11O" " 8(" " " +-*3&" " "')" " " +-I,('1'B%-&G" " +,-" " [DAD(-&-" " " "/-*-" " "D>1-" " " +'" " "-fA'*+" " " +'"
I'2(+*%-&""""/,%I,"""/-*-"""*-1D+%E-1@"""1-&&"""?-E-1'A-?O""8("""+,%&"""A*'I-&&"""+,-@"""3D(DB-?"
+'""">-I'3-"""'E-*D11"""-fA'*+-*&"""')"""+-I,('1'B%-&O""92+"""('/G""+,D+""%&""('+"""-('2B,""")'*"
[DAD(^""+,%&""(D+%'("""D1/D@&"""C--A&"""D%3%(B""",%B,-*O"
X-I-(+1@" " " +,-" " " (DED1" " I,%-)G" " /,'" " " E%&%+-?" " " [DAD(" " " D(?" " " <'2+," " ;'*-DG"
-fA1D%(-?"""+'""3-"""+,D+"""+,-"""[DAD(-&-" ,DE-"""D&"""AD*+"""')"""+,-%*"""E%&%'("""+,-"""D%3"""+'"
-b2D1"""D(?"""&2*AD&&""""+,-"""7(%+-?"""<+D+-&"""%("""D11"""D&A-I+&G"""/,-+,-*"""%+"""%&"""%("""+,-"
B-(-*D+%'("""D(?" -fA'*+"""')"""+-I,('1'B%-&""""'*"""%("""+,-"""b2D1%+@"""')"""1%)-O""<%3%1D*1@G"+,-"
;'*-D(&""""I'()%?-?"""+'"""",%3"""+,D+"""+,-@""""/'21?""1%C-"""+'"""-b2D1""""D(?"""&2*AD&&"""+,-"
[DAD(-&-s"
R'/"""?%?"""[DAD("""DI,%-E-"""+,%&"""&+D+2&e"".'+"""'E-*(%B,+G"">2+"""'E-*"""D>'2+"
+/'"""?-ID?-&G""/%+,""" 1D*B-""+-D3""%(""" %(?2&+*%-&G""1D>'*D+'*%-&G"""B'E-*(3-(+G"")%(D(I%D1"
%(&+%+2+%'(&G""2&-*&G""D(?"""I'(&23-*&""" ",'1?%(B""" "&+-D?)D&+"""+'""""+,-%*"""E%&%'(""""')"" "D"
?-E-1'A-?"""[DAD(" D(?""""/'*C%(B""",D*?"""+'"""-(&2*-"""+,D+"""+,-""""E%&%'("""/D&"""*-D1%d-?O"
U,%&" " "E%&%'("" " "/D&" " " "&,D*-?"" " ">@" " " "A'1%+%I%D(&G" "D?3%(%&+*D+'*&G" "?%A1'3D+&G"
>2&%(-&&3-(G"""&I%-(+%&+&G""-(B%(--*&G"+-I,(%I%D(&G"">D(C-*&""D(?"""A-'A1-" )*'3"""&-E-*D1"
'+,-*" " "'II2AD+%'(&O" " "W,-(-E-*" " " D" " " " [DAD(-&-" "DB-(I@" " "'*" " " %(?2&+*@" " " %3A'*+-?" " " D"
+-I,('1'B@G""+,-@"""?%?"""('+"""*-&+"""%("""A-DI-O""U,-@"""/'*C-?"""",D*?"""+'"""2(?-*&+D(?"""%+"
D(?"""+'
TT"
%3A*'E-" 2A'(" %+O" 8(" +,-" A*'I-&&" +,-@" &A-(+" D13'&+" )'2*" +%3-&" D&" 32I," D&" +,-" ED12-" ')"
%3A'*+-?" +-I,('1'B@ %(" B-(-*D+%(B" +,-%*" '/(" +-I,('1'B%-&G" >-ID2&-" +,-@" C(-/" +,D+" D"
?-E-1'A-?"[DAD("I'21?">-I'3- D"*-D1%+@"'(1@"/,-( %+"/D&"+-I,('1'B%ID11@"I'3A'(-(+"D(?"
/,-(" %+" I'21?"?-E-1'A" %+&"?-&%B(&O"U,-" *-&21+&"D*-">-)'*-"2&^" D"I'2(+*@"?%E-&+-?">@"/D*"
D(?"+/'"(2I1-D*">'3>&G"D(?"&2>a-I+-?"+'",23%1%D+%(B"I'(?%+%'(&"D)+-*" +,-"&-I'(?"W'*1?"
/D*G"%&"('/"DII-A+-?"D&"'(-"')"+,-"/'*1?Y&"&-E-("3'&+"A'/-*)21"I'2(+*%-&O"[DAD(",D&"E-*@"
1%3%+-?"(D+2*D1"*-&'2*I-&"D(?"/D&"*-&+*%I+-?"%("%+&"D++-3A+&"+'"DIb2%*-"3%1%+D*@"&+*-(B+,O"8+"
,D&"/'("+,*'2B,"D"+-I,('1'B%ID1"*DI-G"%(&A%*-?">@"D"E%&%'(O
:+,-*" I'2(+*%-&" %(" +,-" /'*1?" ,DE-" >-B2(" +'" -321D+-" +,-" [DAD(-&-" -fD3A1-" >@"
?-E-1'A%(B" I'*-" I'3A-+-(I%-&" %(" +-I,('1'B%-&" +'" 2&-" D&" I'3A-+%+%E-" +''1&" %(" >2&%(-&&O
5E-("D"A'/-*)21"(D+%'("1%C-"+,-"7<#"%&"')+-("'>&-&&-?"/%+,"I'(+D%(%(B"[DAD("%("+*D?-"D(?"
>2&%(-&&O"
_'*" -fD3A1-G" 7<" >2&%(-&&-&G" /,%I," D*-" )-*'I%'2&1@" %(?-A-(?-(+" D(?" *-I-(+" a'%(+"
DI+%'(&" /%+," +,-" B'E-*(3-(+G" ID3-" +'B-+,-*" %(" !\\!" 2(?-*" +,-" I'2(I%1" ')"
H'3A-+%+%E-(-&&O"8( %+&"*-A'*+G"6D%(%(B".-/"B*'2(?^"U-I,('1'B@"4*%'*%+%-&")'*"#3-*%IDY&"
_2+2*-G"+,-"I'2(I%1"('+-?"+,D+Y"+,%&"A*'a-I+"/D&"I,D*DI+-*%d-?">@"2(I'33'("I'c'A-*D+%'("
D(?"%(E'1E-3-(+"'("+,-"AD*+"')"A2>1%I"D(?"A*%ED+-"&-I+'*&"hO"U,-"I'2(I%1"I'(?2I+-?"D("%( k
TQ"
?-A+,"D(D1@&%&"')"(%(-"3Da'*" +-I,('1'B@c" %(+-(&%E-" %(?2&+*%-&^"D-*'&ADI-G"I,-3%ID1&"D(?"
D11%-?" A*'?2I+&G" I'3A2+-*&" D(?" &')+/D*-G" I'(&+*2I+%'(G" ?*2B&" D(?" A,D*3DI-2+%ID1&G"
-1-I+*'(%I" I'3A'(-(+&" D(?" -b2%A3-(+G" 3DI,%(-" +''1&G" 3'+'*" E-,%I1-&" D(?"
+-1-I'332(%ID+%'(&O"U'B-+,-*G" +,-&-" &-I+'*&"DII'2(+" )'*"3'*-"+,D("p!!" +*%11%'(" %(" &D1-&"
D(?" ?%*-I+1@" -3A1'@" +/-1E-" 3%11%'(" A-'A1-O" U,-@" ,DE-" D++-3A+-?" +'" 1''C" h>-@'(?" +,-"
AD*'I,%D1"%(+-*-&+"')"-DI,"&-I+'*"%("+,-"(D+%'(D1"%(+-*-&+"hO"
U,-Y" *-3D*CD>1-" I'(&-(&2&Y" )'*" +,-" )%*&+" +%3-" >-+/--(" #3-*%IDY&" I'*A'*D+-G"
DID?-3%I"D(?"+,-"1D>'*"1-D?-*&Y"2(?-*&I'*-&"D"I*2I%D1"A'%(+"%("+,-"+-I,('1'B@"?->D+-^"+,-"
7<"(--?&"+'"3'E-">-@'(?"&%3A1@"3DC%(B"1%&+&O"8(&+-D?G"#3-*%ID"(--?&"D"A*DB3D+%I"A1D("
)'*"a'%(+"A2>1%I"D(?"A*%ED+-"&-I+'*"DI+%'(O"U,-"*-A'*+"I'3AD*-&"[DAD("D(?"52*'A-"/%+,"+,-"
7<" D(?" ?-*%E-&" D" A1D(" )'*" I'3A-+%+%'(O" 8+" I1-D*1@" DIC('/1-?B-&" +,-" 1-D?"')" [DAD(" %(" D"
(23>-*" ')" D*-D&" %(" I'33-*I%D11@" E%D>1-" +-I,('1'B%-&O" <2I," %&" +,-" A'/-*" ')" [DAD(Y&"
I'33%+3-(+" +'" I'(I-*(-?" DI+%'(" D&" *-BD*?&" %+&" +-I,('1'B@" E%&%'(" )'*" 3'*-" +,D(" +,*--"
?-ID?-&O"
#" !\\L" ?'I23-(+" >@" C-%?D*(D(" M[DAD(" _-?-*D+%'(" ')" 5I'('3%I":*BD(%dD+%'(&N"
?-&I*%>-&"hD("D++*DI+%E-"[DAD(YG"hD"A-*I-%E-?">@"A-'A1-"D*'2(?"+,-"/'*1?"D&"D"B''?"A1DI-"
+'" 1%E-G" ?'" >2&%(-&&" D(?" &+2?@YO" U,-" *-A'*+" D1&'" &+D+-&" +,D+" h/-" 32&+" 2(?-*&+D(?" +,D+"
[DAD(Y&")2+2*-"?-A-(?&"'("+,-"A*'B*-&&"')"&I%-(I-"D(?"+-I,('1'B@YO"W-",DE-"D"1'+"+'"1-D*("
)*'3" [DAD(Y&" ?-?%ID+-?" D(?" &2&+D%(-?" -))'*+&" %(" DI,%-E%(B" +-I,('1'B%ID1" -fI-11-(I-" D(?"
1-D?-*&,%AO"
<'2+,";'*-D"
#>'2+" +,*--" ?-ID?-&" DB'G" <'2+," ;'*-D" /D&" ('+" -E-(" I'(&%?-*-?" D" )'*I-" +'"
I'(+-(?"/%+,O";'*-D"*-I-%E-?"&'3-"D++-(+%'("?2*%(B"+,-";'*-D("/D*"%("+,-"!\QK&"D(?"/D&"
B-(-*D11@" )'*B'++-("&''("D)+-*O"U,-"I'2(+*@",D&" &2))-*-?"-f+-(&%E-"?D3DB-"/,%1-" %+"/D&"
'II2A%-?">@"[DAD(" "?2*%(B" +,-"<-I'(?"W'*1?"WD*O"8+"/D&"I'(&%?-*-?" >@"3D(@"(D+%'(&G"
%(I12?%(B"8(?%DG" +'">-"D"I'2(+*@" &'"A''*"+,D+"+,-*-"/D&"('",'A-")'*" %+O"8+"D1&'"&2))-*-?"D"
AD*+%+%'(O"J-&A%+-"+,%&G"<'2+,O";'*-D"I*-D+-?"D"E%&%'(">@"/,%I,"%+">-ID3-"D"3Da'*"B1'>D1"
A1D@-*" %(" D" )-/" @-D*&" %(" &'3-"3Da'*" -I'('3%I" &-I+'*&" +,D+" 2&-?"3'?-*(" +-I,('1'B%-&O"
U,-&-"/-*-"&+--1"A*'?2I+%'(G"&,%A>2%1?%(BG"D2+'3'>%1-&"D(?"-1-I+*'(%I&O"U,-*-"/-*-"3D(@"
/-&+-*(""-I'('3%I&"/,'"+,'2B,+"+,D+"+,%&"/D&"D"/*'(B"&+*D+-B@G">-ID2&-"+,-"I'2(+*@"?%?"
('+",DE-"D"(D+2*D1"I'*-"I'3A-+-(I-"%("D(@"')"+,-&-"D*-D&O"92+"<'2+,";'*-D"/D&"D"(D+%'(
T]"
/%+," D" /%11O" 8+" ?%?" DI,%-E-" &2II-&&" %(" D11" +,-&-" D*-D&O" <'2+," ;'*-D(&" ,DE-" B'(-" '(" +'"
>-I'3-" )'*3%?D>1-" 321+%(D+%'(D1&" %(" +,-&-" D*-D&" D&" /-11" D&" %(" &-E-*D1" '+,-*&O" 8("
-1-I+*'(%I&G"<'2+,";'*-D(&"&+%11"2&-"+,-"h*-E-*&-"-(+*@Y"+-I,(%b2-"%("ED*%'2&"D*-D&O"U,D+"%&G"
+,-@" 2&-" +,-3&-1E-&" D&" 3D(2)DI+2*%(B" >D&-" %(%+%D11@G" D(?" +,-(" 2&-" D" )-/" &-1-I+-?"
+-I,('1'B%-&" ')" +,-%*" '/(" +'" I*-D+-" +,-" &2>&-b2-(+" 3'?-1&O"#(?" +,-@" ,DE-" %(E-&+-?" %("
XjJG" -(D>1%(B" +,-3" +'" 3DC-" 3Da'*" I'(+*%>2+%'(&" %(" &'3-" D*-D&O" <2I," D&" -1-I+*'(%I&O"
U,-%*"b2D1%+@"')"1%)-",D&"%3A*'E-?"+*-3-(?'2&1@"'E-*"+/'"?-ID?-&G"D(?"A-*"IDA%+D"%(I'3-"
,D&"*%&-("+'"D>'2+"7<p"!KKKK"
O" ;'*-D(&" )*'3"D(" -D*1%-*" B-(-*D+%'(" *-ID11" +,D+" D>'2+" +/'"'*" +,*--" " ?-ID?-&" DB'"
?%&I2&&%'(&"D*'2(?"+,-"?%(%(B"+D>1-"/-*-"I'()%(-?"+'"+,-")''?"+,-@"D+-"%("+,-"3'*(%(B"'*"
D+"12(I,g"'*""/,D+"/D&"A1D((-?"+'">-"I''C-?"1D+-*O"_''?"/D&"&ID*I-G"D(?"D"3-D1"'*"&'3-"
B''?")''?"&-*E-?"D&"D"&+*'(B"%(I-(+%E-")'*"3'&+"A-'A1-O"[2&+"+'">-"D>1-"+'",DE-"+,*--"&'1%?"
3-D1&" D" ?D@"/D&" D" B*-D+" DI,%-E-3-(+" %(" +,D+" D*-DO" <'2+,";'*-D(&" ,DE-" ('/"B'(-"/-11"
AD&+" +,D+" &+DB-O"_''?" %&" ('" 1'(B-*"D"3Da'*"A'%(+"')"?%&I2&&%'("/%+," +,-3^" ('/" %+" %&" +,-"
B1'>-c,'/"3D(@"3'*-"&2II-&&-&"+,-@"ID("DI,%-E-3-(+O"H'(&%?-*D>1-" )2(?&"D*-"?-E'+-?"
+'"*-&-D*I,"D(?"?-E-1'A3-(+""-fA-(?%+2*-"%("%(?2&+*%-&O"U,-@",DE-"?-&%B("IDAD>%1%+%-&" %("
3D(@"D*-D&O"U,-"D2+,'*&"D*-"D/D*-"')"&'3-"')" +,-"*-I-(+"A*'>1-3&" %("<'2+,";'*-DO"92+"
+,-"I'*-"&+*-(B+,&"')"<'2+,";'*-D(" +-I,('1'B%-&" D*-" &'",%B," +,D+" +,-"I'2(+*@" &,'21?" >-"
D>1-"+'"'E-*I'3-"+,-&-"A*'>1-3&"&''(O
TL!
">B0;."
#('+,-*"%(+-*-&+%(B"I'2(+*@"%&"8&*D-1O"8+"/D&">'*("D&"D"(D+%'("%("!\TVG"2(?-*"E-*@"?%))%I21+"
I%*I23&+D(I-&O"8&*D-1%&"/-*-"('+"a2&+"&D+%&)%-?"/%+,",DE%(B"D",'3-"')"+,-%*"'/(O"U,-@",D?
TV"
D")2*+,-*"&D+%&)%-?"/%+,",DE%(B"D",'3-"')"+,-%*"'/(O"U,-@",D?"D")2*+,-*"E%&%'(^"+'">-"D>1-"
+'" 3--+" ('+" '(1@" +,-%*" %33-?%D+-" )''?" D(?" /D+-*" *-b2%*-3-(+&G" >2+" D1&'" +,'&-" ')" +,-"
)2+2*-O"U,-@"/D(+-?" )''?"D(?"/D+-*"&-I2*%+@G" %("D"A1DI-"/,%I,"/D&"D"?-&-*+O"WD+-*"/D&"
&ID*I-O"U,-@"/-*-" &2**'2(?-?">@" ,'&+%1-" (D+%'(&G"D(?" ,D?" E-*@" 1%++1-" >@"/D@"')" (D+2*D1"
*-&'2*I-&O" U,-@" /-*-" D" &3D11" " I'2(+*@" +''O" S-+" +,-@" ('+" '(1@" ,D?" D" E%&%'(" )'*" )''?"
&-I2*%+@G" >2+" D1&'" D%3-?" +'" >-I'3-" D" 1-D?-*" %(" DB*'c)''?" A*'?2I+&" D(?" &-+" &+D(?D*?&" %("
+-*3&"')"A*'?2I+%E%+@G"@%-1?"'*"-E-(" %("D>&'12+-"A*'?2I+%'(" %("3D(@" %+-3&"')" )''?G">-" %+"
3%1C"'*")*2%+"'*"'+,-*"I'33'?%+%-&O"U,-@"?%?"?-A1'@"D"1D*B-*"D3'2(+"')"+-I,('1'B@"%("+,%&"
E-(+2*-G" 1-D?%(B" +'" 8&*D-1" >-%(B" +'?D@" D" 1-D?-*" %(" DB*%I21+2*-" D(?" DB*'c)''?" *-1D+-?"
+-I,('1'B%-&O"_%B2*-"=OP"I'3AD*-&""+,-"3%1C"@%-1?"')"?%))-*-(+"I'2(+*%-&O"_'*"D((2D1"3%1C"
@%-1?"A-*",-D?"')"ID++1-G"8&*D-1Y&")%B2*-")'*"!\\T"%&"D>'2+"\=KK"CBO"U,-"*2((-*c2A"%&"+,-"7<"
/%+,"D>'2+"LKKK"CB"A-*",-D?"')"ID++1-"'*-"@-D*O"8("8(?%D"+,-")%B2*-"%&"'(1@"D>'2+"QKKO"
8&*D-1" ?%?" ('+" &+'A" 3-*-1@" D+" )''?" &-I2*%+@" %(" )''?" D(?" DB*%I21+2*-O" 8+" (--?-?"
?-)-(I-O"U,-@" ,DE-" *-3D*CD>1-"IDAD>%1%+@" %("?-)-(I-"D(?"3%1%+D*@"-b2%A3-(+G" %(I12?%(B"
3%&&%1-&O" U,-@" &'2B,+" (2I1-D*G" &ADI-" D(?" -1-I+*'(%I&" IDAD>%1%+@G" D(?" ('" ,DE-" &-E-*D1"
-fI-11-(+"A*'?2I+&"D(?"+-I,('1'B%-&O"8&*D-1""%&"B1'>D11@"DIC('/1-?B-?"D&"D"+-I,('1'B%ID1G"
3%1%+D*@"D(?"-I'('3%I"A'/-*O"U,D+"%&"?2-"+'"%+&"1'(Bc+-*3"E%&%'("D(?"&2&+D%(-?"DI+%'(O"
W-"D*-"('+"D1'(-"%(("+,%(C%(B"')"D"E%&%'(")'*"=K=KO"0D(@"'+,-*&"D*-"+,%(C%(B""')"
+,-%*" )2+2*-G"D(?"D*-" &+*%E%(B" ,D*?" +'"3DC-"D" " >-++-*" )2+2*-G"D(?"D*-" &+*%E%(B" ,D*?" +'" +,-"
B*D+-*" -3A,D&%&" '(" +-I,('1'B%ID1" &+*-(B+,&" %(" 321+%A1-" D*-D&" &2I," D&" 3D(2)DI+2*%(BG"
D?ED(I-?" 3D+-*%D1&G" -1-I+*'(%I&" D(?" %()'*3D+%'(" +-I,('1'B%-&O" 8(" D??%+%'(G" " +,-&-"
I'2(+*%-&" +-I,('1'B%-&O" 8(" H,%(DG" 7<#" D(?" 52*'A-" +,-*-" %&" D" I'(+%(2-?" +,*2&+" )'*"
D?ED(I-3-(+" ')" ?-)-(I-" +-I,('1'B%-&O" H,%(DY&" DAA*'DI," +'" DB*%I21+2*-" ,D&" I'33'("
)-D+2*-&" /%+," +,D+" ')" 8(?%DO" 7<#G" 52*'A-" D(?" [DAD(" A1DI-" 32I," B*-D+-*" -3A,D&%&" '("
>%'+-I,('1'B@""/%+,"B1'>D1"3D*C-+&"%("E%-/O"U,-"E%&%'("+,D+"-3-*B-&")'*"8(?%D"%&">D&-?"'("
+,-"A-*I-A+%'(&"')" %+&"&-I2*%+@"-(E%*'(3-(+G" %+&"&'I%D1"D(?"-I'('3%I"(--?&"D&"/-11"D&"D>"
-D&-3-(+"')" %+&"I'*-"&+*-(B+,&O"8+" %&"D"E%&%'(" )'*"'2*"A-'A1-O"F-+"2&"('+" 1-DE-"3%11%'(&"')"
'2*"&%&+-*&"D(?">*'+,-*&"%("A'E-*+@"D(@"1'(B-*O"W-"&,'21?"/%A-"'2+"A'E-*+@">@"=K!K"D(?"
>-I'3-"D"?-E-1'A-?"(D+%'(">@"=K=KO
T\!
?@0A=;B!!!O!
YYYYYYYYYYYYYYYYYYYYYYYYYYYYY!
LF9.-=D96!9J!I;[email protected]<G!
QD>D96!&'&'!
"6,D0Z>!?9B;!?91A;=;67D;>!
R*;)!:*;+$)37!2)*$%()7!,%-..!2(!3*;)!.*1(\!
N**0!;+$*!2($$()!3*;!,%-..!#6<)*1(\!
N)(-$!0((0,!#+0((0!-)(!+((0(0!+*B\!
"*)/!%-)07!B*)/!.*+9!#+!'-)6!-+0!%*+(3\!
Z($!$%(!.-+0!2(!-2;+0-+$!#+!6#./!-+0!%*+(3\!
I.**0!$%(!.-+0!B#$%!9**0,7!-..!6-0(!-$!%*6(\!
M<)(-0!3*;)!%-+0#B*)/!-..!*1()!$%(!B*).0\!
&)(!3*;!-!<-$)#*$!?!4*!+*$!,%*;$!#$!-.*;0\!
Y)-99#+9!+(1()!0#0!-+32*03!-+3!9**0\!
];#($.37!0!*-/!'#+(!0((0!#+,$(-0\!
Z($!$%(!<(*<.(!,((!#$7!#$!#,!$%(3!$%-$!0(:#0(\"
iJ-&,D">,DC+%">@"62*DaD?D"
U*D(&1D+-?")*'3"U-12B2">@"<*%""<*%"0D,DCDE%"
8(" +,-" A*-c8(?-A-(?-(I-" ?D@&G" 8(?%D" ,D?" 3D(@" ?*-D3-*&g" 3D(@" IDAD>1-"
/'3-("D(?"3-("+,%(C%(B"')"D"&+*'(B"D(?"3'?-*("8(?%DO"0D(@"')"+,-3"+''C"+,-"%(%+%D+%E-"
%(" ED*%'2&" )%-1?&G" A'1%+%ID1G" &'I%D1G" -I'('3%IG" %(?2&+*%D1G" -?2ID+%'(D1G" 1%+-*D*@G" &I%-(+%)%IG"
-(B%(--*%(B"D(?"+,-"*-1%B%'2&O"U,-@"-(*%I,-?"8(?%D">@"+,-%*"DI+%'(&G"D(?"*-)1-I+-?"?%))-*-(+"
)DI-+&"')"'2*"%(?-A-(?-(I-"&+*2BB1-O"8(?-A-(?-(+"8(?%D"/D&"-(*%I,-?">@"+,%&"%(,-*%+D(I-O"
#??-?"+'"+,%&"/D&"+,-" )DI+" +,D+"8(?%D",D?"*%I,-*"(D+2*D1"*-&'2*I-&"D&"I'3AD*-?"+'"3D(@"
'+,-*"I'2(+*%-&O"U,-&-"A-*I-A+%'(&"1-?"+'"+,-"AD&&%'(D+-"ID11")'*">2%1?%(B"D"B*-D+"(D+%'(O"
#)+-*" %(?-A-(?-(I-G" 8(?%D" 3D?-" &%321+D(-'2&" A*'B*-&&" %(" 3D(@" )%-1?&^" DB*%I21+2*-G"
,-D1+,G" -?2ID+%'(G" %()*D&+*2I+2*-G" &I%-(I-" D(?" +-I,('1'B@G" D3'(B" '+,-*&O" R-*" E%>*D(+
QK"
?-3'I*DI@"/D&"D"/'(?-*"+'"+,-"/'*1?G"/,%I,"+,'2B,+"8(?%D"/'21?">-"A12(B-?"%(+'"I,D'&"
D)+-*"+,-"9*%+%&,"1-)+O"
#>'2+" +/'" ?-ID?-&" D)+-*" %(?-A-(?-(I-G" ?-&A%+-" '2*" (23-*'2&" DI,%-E-3-(+&G" ?'2>+&"
-3-*B-?" D>'2+" '2*" D>%1%+@" +'" ,D(?1-" '2*" &@&+-3" '(" '2*" '/(O"0D(@" ')" '2*" E%+D1" &'I%'c"
-I'('3%I" D(?" -E-(" 3%1%+D*@" &-I+'*&" >-BD(" +'" ,DE-" D" B*-D+-*" ?-A-(?-(I-" '(" )'*-%B("
&'2*I-&" )'*" %(('ED+%'(" '*" +-I,('1'B@O" <-1)c*-1%D(I-" D(?" I'33%+3-(+" +'" &I%-(I-" D(?"
+-I,('1'B@"/-*-"+,-"?-I1D*-?"A'1%I%-&G">2+"')+-("I*2I%D1"-I'('3%I"D(?"%(?2&+*%D1"?-I%&%'(&"
/-*-">D&-?"'("+-I,('1'B@"%3A'*+&"'*"1%I-(&-?"A*'?2I+%'(G">'+,"%("+,-"A*%ED+-"D(?"A2>1%I"
&-I+'*&O"
<ADI-"*-&-D*I,"D(?"D")-/"'+,-*&"D*-D&"?-E-1'A-?"3'*-"D&"%&1D(?&"')"I'()%?-(I-"*D+,-*"
+,D(" D&" 3'E-3-(+&" )'*" ?-E-1'A%(B" I'*-" %(?2&+*%D1" D(?" +-I,('1'B%ID1" I'3A-+-(I%-&O"
U,-*-)'*-G" D*'2(?" +,-" 1D+-" hLK&" D(?" +,-" hVK&G" D" ?%))%?-(I-" +'" +DC-"3Da'*" %(%+%D+%E-&" ,D?"
>-B2("+'"&-+"%(G"+,'2B,"+,-*-"D*-"&'3-"*-3D*CD>1-"-fD3A1-&"')")DI%(B"I,D11-(B-*&"+''G">-"
%+" >@" 1D2(I,%(B" D" )-/" +-I,('1'B@" 3%&&%'(" '*" %(" -&+D>1%&,%(B" %(&+%+2+%'(&" 1%C-" HcJ'+"
MH-(+-*")'*"J-E-1'A3-(+""')"U-1-3-+*%IN"
_DI-?" /%+," +,%&" 2(2&2D1" I'3>%(D+%'(" ')" B*'/%(B" " ?-A-(?-(I@" /%+," D" )-/" >'1?"
&2II-&&-&G" D" 2(%b2-" %(&+%+2+%'(" ID11-?" +,-" U-I,('1'B@" 8()'*3D+%'(O" _'*-ID&+%(B" D(?"
#&&-&&3-(+"H'2(I%1"MU8_#HN"/D&">'*("%("!\VVO"8+&"3Da'*"+D&C"/D&"+'"1''C"D,-D?"D+"+,-"
+-I,('1'B%-&" -3-*B%(B" /'*1?/%?-G" D(?" &,'21?" >-" A*'3'+-?O" 8(" %+&" +D&C&G" U8_#H"
(-+/'*C-?" ED*%'2&" &+DC-,'1?-*&^" +,-" B'E-*(3-(+G" %(?2&+*%-&G" 2&-*&G" &I%-(+%)%I" D(?"
+-I,('1'B%ID1"%(&+%+2+%'(&G")%(D(I%D1"%(&+%+2+%'(&"D(?"%(+-11-I+2D1&O"
U8_#H" D1&'" &+2?%-?" +,-" %?-D&" ')" &-E-*D1" 8(?%D(" E%&%'(D*%-&" %(" +,-" " )%-1?" " ')"
+-I,('1'B@""D(?"+,-"A1D(&"')"ED*%'2&""'*BD(%dD+%'(&O":E-*"D"A-*%'?""')"@-D*&" %+"A*'?2I-?"
&-E-*D1" *-A'*+&" &2BB-&+%(BO" W,D+" 8(?%D" &,'21?" ?'" +'" D&&23-" 1-D?-*&,%A" %(" D*-D&" 1%C-"
&2BD*G"F-D+,-*"G&+--1G">%'+-I,('1'B@"'*""3D(2)DI+2*%(BO"8+"?%?"('+"&+'A"0-*-1@"D+""&+2?%-&"
>2+"D1&'"D++-3A+-?"+'"3DC-"" +,-""&+DC-,'1?-*&" +DC-""DI+%'(O"#"" )-/""3Da'*" "B'E-*(3-(+c"
&2AA'*+-?""+-I,('1'B@"3%&&%'(&""/%+,""&+*'(B""%(?2&+*@""AD*+%I%AD+%'(""/-*-"D("'2+I'3-"')"
+,-&-"DI+%E%+%-&O"
#11" " +,-&-" " /-*-" B''?" %(%+%D+%E-&" &2II-&&)211@" 2(?-*+DC-(" " %(" 5fI-A+%'(D11@"
?%))%I21+" " &%+2D+%'(&" OU,'2B," " 1D2?D>1-" G" ,'/-E-*G" U,-@" ?%?" ('+" B'" )D*" " -('2B," %(" +,-
Q!"
I'(+-f+" ')" D" >%B" I'2(+*@" 1%C-" 8(?%D" &--C%(B" " " +'" )21)%11" " ,-*" +*2-" A'+-(+%D1" OU,%&" /D&"
2AA-*3'&+O"8("+,-"3%(?&"')"I'(I-*(-?"8(?%D(&O!
I;[email protected]<G! FD>D96!&'&'"8+" %&" DBD%(&+" +,%&" >DICB*'2(?" +,D+" +,-" U8_#H" B'E-*(%(B" I'2(I%1" 3-+" " '(" =T"
.'E-3>-*" "!\\P""/%+," %+&" )'*+@"3-3>-*&" "?*D/(" )*'3" %(?2&+*@" G"XjJ"-&+D>1%&,3-(+&" G"
DID?-3%I" %(&+%+2+%'(&" GB'E-*(3-(+" ?-AD*+3-(+&" D(?" )%(D(I%D1" " %(&+%+2+%'(&" " D(?" ?->D+-?"
,'/"U8_#H"I'21?"I'(+*%>2+-""+'""(D+%'(D1""?-E-1'A3-(+"O#("%(+-(&-"?%&I2&&%'("+''C"A1DI-"
D>'2+""8(?%D"h&"AD&+"D(?"A*-&-(+"+-I,('1'B%ID1"A-*)'*3D(I-""D(?"/,D+"I'21?">-")-D&%>1-"%("
+,-")2+2*-"O8("+,-"3%?&+"')"+,-"?%&I2&&%'(""'(-"')"+,-"U8_#H"I'2(I%1"3-3>-*&"
A'&-?"D"E-*@"%(+-*-&+%(B"b2-&+%'("OY0*O""I,D%*3D("G"/-"D11",DE-"+'"D??*-&&"'(-"%&&2-"^8(?%D"
+'?D@"G"D13'&+")%)+@"@-D*&"&%(I-"!\TLG%&">*D(?-?"D"?-E-1'A%(B"I'2(+*@ O"/,D+"/%11"3DC-"+,-"
I'2(+*@"D"?-E-1'A-?"(D+%'(eY"
5E-*@'(-""A*-&-(+"*-D1%d-?"+,D+"+,-*-%("1D@""+,-""I*2f""')"+,-"A*'>1-3"D(?"+'"D**%E-"
D+",-"D(&/-*" " +'" +,-"b2-&+%'(">-ID3-O"U,-"DB-(?D" O+/'"I'2(I%1" "3--+%(B&"/-*-" ,-1?" +'"
?%&I2&&""+,-"3-D(&"+'"D**%E-"D+"+,-"D(&/-*"O8+"/D&"*-D1%d-?"+,D+"+-I,('1'B@O"8&"+,-",%B,-&+"
/-D1+,"B-(-*D+'*" %(" +,-"&,'*+-&+"A'&&%>1-"A-*%'?O" 8)" %+" %&"?-A1'@-?" %(" +,-" *%B,+" "?%*-I+%'("
OU-I,('1'B@""&+*-(B+,-(&O"U,-"A'1%+%ID1G"-I'('3%I"D(?"&-I2*%+@"&+*2I+2*-"')"+,-"(D+%'("O"
_'*"8(?%D"G+-I,('1'B@",D?"+'">-"+,-"E%&%'(")'*"+,-")2+2*-O"
U-I,('1'B@" " "ID(",-1A"+*D(&)'*3"321+%A1-"D*-D&" &2I,"D&"-?2ID+%'(" "D(?"+*D%(%(B"
GDB*%I21+2*-""D(?")''?"A*'I-&&%(BG"&+*D+-B%I"%(?2&+*%-&"D(?"%()*D&+*2I+2*-"%("ED*%'2&")%-1?&"O"
8+" %&" '(" +,%&" >D&%&" +,D+" +,-" +D&C" )'*I-&" D(?" AD(-1&" ')" +,-" +-I,('1'B@"$%&%'(" =K=K"/-*-"
I'(&+%+2+-?O!
"6,D0Z>!!!6;;,>!!!79B;!!!791A;=;67D;>"
8(?%DY&" D*-" E-*@" I1-D*" ^" +'" *-3'E-" " +,-" A'E-*+@" ')" '2*" 3%11%'(&" D&" &A--?%1@" D&"
A'&&%>1-"G&D@">-)'*-"=K=Kg+'"A*'E%?-",-D1+,")'*"D11"g+'"A*'E%?-"B''?"-?2ID+%'(""D(?"&C%11&"
)'*"D11"g+'"A*'E%?-"-3A1'@3-(+"""'AA'*+2(%+%-&")'*"D11g"+'">-"D"(-+"-fA'*+-*g"D(?"+'">-"&-1) k"
*-1%D(+"%("(D+%'(D1"&-I2*%+@"D(?">2%1?"2A"IDAD>%1%+%-&"+'"&2&+D%("D(?"%3A*'E-"'("D11"+,-&-"%("
+,-" )2+2*-" OR'/"ID("8(?%D"3--+" +,-&-" (--?&"eU'">-"D>1-" +'"I,D*+"'2+" +,-"A'&&%>1-"AD+,&"
+'/D*?&"+,%&"-(?"G"D("D&&-&&3-(+"')"8(?%DY&"I'*-"I'3A-+-(I%-&"%&"D"A*-*-b2%&%+-O"
W,D+" %&"D"I'*-"I'3A-+-(I@e"A2+" &%3A1@" G" %+"3-D(&" +,D+" %(" " I-*+D%("D*-D&"/-",DE-"
&'3-"%(,-*-(+"&+*-(B+,&"/,-*->@"/-"ID("&,'/"D"32I,">-++-*""'2+A2+"D(?">-++-*"*-&21+&"%(
Q="
&,'*+-*"+%3-"O"8("+,-" )%(D1"D(D1@&%&" G"D(@"B*'2A"')"A-'A1-" %("D(@"B%E-(" 1'ID1-"D(?""2(?-*"
D(@" I'(?%+%'(" ID(" DII'3A1%&," /,D+" +,-@" *-D11@" /D(+" " +'O" 92+" +,-*-" D*-" I-*+D%(" +,%(B&"
/,%I," +,-@" ID(" ?'" 32I," >-++-*" B%E-(" +,-" &D3-" /%11" D(?" -))'*+" G-%+,-*" ?2-" +'" D" 3'*-"
-(D>1%(B" -(E%*'(3-(+" " '*" ?2-" +'" >-++-*" " -fA-*%-(I-" OU,-&-" " G+,-(" GD*-" I'2(+*@Y&" I'*-"
I'3A-+-(I%-&O"
U,-*-",DE-">--("D"(23>-*"')"?->D+-&"'("+,-"-f%&+-(I-""')"I'*-"I'3A-+-(I%-&"%("
8(?%D"^&'3-">DIC-?">@"%()'*3-?"'A%(%'("D(?"'+,-*&"I,D*B-?"/%+,"&+*'(B"-3'+%'(O"U,%&"%&"
>-ID2&-" 8(?%D" %&" D" ED+" I'2(+*@" /%+," ?%))-*-(+" *-B%'(&" ,DE%(B" ?%))-*-(+" &+*-(B+,&" D(?"
/-DC(-&&-&" O"U,-*-"D*-"D1&'"?%))-*-(+" " +@A-&"')"A-'A1-"^&'3-"/%+,"+,-">-&+"')"-?2ID+%'("
G+*D%(%(BG" -fA'&2*-" D(?" -fA-*%-(I-" O" U,-*-" D*-" 3D(@" 1-&&" " )'*+2(D+-" '(-&"/%+," DE-*DB-"
-?2ID+%'(D1"'AA'*+2(%+%-&" "D(?"/'*C"-fA-*%-(I-" O"U,-*-" "D*-"3D(@""2()'*+2(D+-"'(-&" )'*"
/,'3"&2*E%ED1"'("D"?D@"k+'"c?D@""">D&%&"+DC-&"2A"D11"+,-%*"""D++-(+%'("g+,-@",DE-")-/"&C%11&"
D(?" E-*@" 1%++1-" 'AA'*+2(%+@" O" &2I," A*'>1-3&" (--?" " ('+" " " 'E-*/,-13" 2&" O" #(" " '>a-I+%E-"
DAA*D%&D1""&,'/&"+,D+"1-&&")'*+2(D+-"8(?%D(&"+''",DE-"&,'/(""+,-""D>%1%+@""+'""D>&'*>""(-/"
+-I,(%b2-&" " "D(?"" &C%11&" "D(?" "D1&'" "3-+,'?&" "')" " )2(I+%'(%(BO"8("+,-" "-D*1@" "@-D*&" "D)+-*"
%(?-A-(?-(I-""+,-""*DA%?""B*'/+,""')""+,-""-I'('3@""/D&""?2-""+'"""'2*""%((D+-""D>%1%+@O":2*"
A-'A1-" " 1-D*(+" (-/" " DB*%I21+2*D1" " A*DI+%I-&g" 3D(@" " 1-D*(+" +'" " /'*C" " %(" " )DI+'*%-&" " D(?"
ED*%'2&" " A2>1%I" " &-*E%I-" " " DI+%E%+%-&O"#(" " %3A*'E-?" " " -?2ID+%'(D1" " >D&-" " ,-1A-?" " " +,-3"
>-++-*"D>&'*>"+,-"(-/"DAA*'DI,-&"D(?"C('/1-?B-"O"J-&A%+-"+,-"DAAD11%(B""&+D+-"')")-3D1-"
%11%+-*DI@"G"%+"%&"D1&'"D")DI+"+,D+"D"1D*B-"(23>-*"')"""/'3-(")*'3"D11"/D1C&""')"1%)-"D?a2&+-?"
+'"(-/")'*3&"')"-I'('3%I"DI+%E%+@"O"
8+" %&"I1-D*" +,D+" +,-"3Da'*" +-I,('1'B%ID1" D(?" %(?2&+*%D1" DI,%-E-3-(+&"')"'2*"
I'2(+*@",DE-"I'3-"D>'2+"+,*'2B,"+,-"-(?-DE'*&"')"""+,'2&D(?&"')"@'2(B"/'3-("D(?"3-("
/,'",DE-"&+2?%-?"%("h'*?%(D*@Y"&I,''1&"D(?"I'11-B-&"%("?%))-*-(+"AD*+&"')"8(?%D"O.'+"D11"')"
+,-")-/"3%11%'("A-*&'(&"')"8(?%D("'*%B%("/,'"1%E-"D(?"/'*C"%("?%))-*-(+"AD*+&"')""+,-"/'*1?"
D*-")*'3"+,-"8(?%D("%(&+%+2+-"')"+-I,('1'B@""'*"'+,-*"A*-&+%B%'2&"%(&+%+2+-&O"U,-@"D*-")*'3"
+,-" h'*?%(D*@Y" %(&+%+2+%'(&" ')" 8(?%DO" U,-*-" D*-" ?'I+'*&" G" -(B%(--*&O" +-I,(%I%D(&" G(2*&-&G"
D*+%&+&G" /*%+-*&G" a'2*(D1%&+&G" DII'2(+D(+&G" I1-*C&" G" +-DI,-*&" D(?" ED*%'2&" " C%(?&" ')"
A*')-&&%'(D1&"D(?"'+,-*&"%("+,-"/'*Cc)'*I-O"5E-("+,-"*-I-(+"8(?%D("&')+/D*-"3%*DI1-""%&"+,-"
3DC%(B"')"D"1D*B-"(23>-*""')"h'*?%(D*@Y""@'2(B"/'3-("D(?"3-("G"/,'"3D@"('+">-"D>1-"+'
QP"
+D1C" " )12-(+1@" %("5(B1%&," G">2+"ID("2(?-*&+D(?" %(&+*2I+%'(""3D(2D1&"D(?"3D&+-*"I'3A2+-*"
'A-*D+%'(&""/-11"-('2B,"+'"-(D>1-"+,-3"+'"&+D(?"2A"+'""B1'>D1"I'3A-+%+%'("O"
:(-"+,%(B"+,-("%&"I*@&+D1"I1-D*"^8(?%DY&",23D("*-&'2*I-">D&-"%&"'(-"')"%+&"B*-D+"
I'3A-+-(I%-&"O"8+" %&"8(?%DY&"&+*-(B+,"O" %)"/-"ID("+*D%("2(&C%11-?"8(?%D("G" %)"/-"ID("%3AD*+"
>-++-*"&C%11&"+'"D"&C%11-?"8(?%D(""D(?""%)""/-"I*-D+-"D"3'*-"I,D11-(B%(B"-(E%*'(3-(+"")'*"+,-"
-?2ID+-?"G"D&"/-11"D&">2%1?"DE-(2-&")'*"-I'('3%I"DI+%E%+@"%("DB*%I21+2*-""G"%(?2&+*@"D(?"+,-"
&-*E%I-" " &-I+'*&" G" +,-&-" 8(?%D(&"/%11" ('+" '(1@" 3--+" " +,-" +D*B-+&" >2+" " " -fI-1" +,-3" O" U,-"
+-I,('1'B@"E%&%'("?'I23-(+&"D?E'ID+-"+,-")'*3D+%'("')"D",23D("*-&'2*I-"ID?*-""+,D+"/%11"
>-"+,-")'2(?D+%'("')"+,-"DI+%'("ADICDB-&")'*"+,-"I'2(+*@"%("+,-"(-D*")2+2*-O"<2I,"D"ID?*-"
/%11"1-D?"2&"+'"-I'('3%I"DI,%-E-3-(+&O"
8(?%D(&"('+"'(1@",DE-"D"B*-D+"1-D*(%(B""IDAD>%1%+@"">2+"3'&+"')"+,-3"D1&'",DE-"
D(" -(+*-A*-(-2*%D1" D(?" I'3A-+%+%E-" &A%*%+" O" +'?D@G" +,-*-" D*-" ('+" -('2B," DE-(2-&" " +'"
I,D(?-1%-*""+,%&"&A%*%+"I'(&+*2I+%E-1@"""D(?"A*'?2I+%E-1@"O"U,D+"%&""/,D+"/-"&,'21?"D%3")'*"O"
.D+2*D11@" +,-"E%&%'("A*'?2I+&" " &-E-*D1"-1-3-(+&" +,D+"IDA%+D1%d-" "'(" +,%&"E%+D1" *-&'2*I-"')"
8(?%D"O"U,-"?-+D%1&"')"+,-"-3A,D&%&"ED*@")*'3"&-I+'*"+'"&-I+'*"G"/,-+,-*""%+"%&"DB*'c)''?"'*"
3D+-*%D1&"'*">%'+-I,('1'B@"'*"&+*D+-B%I"%(?2&+*%-&"G"D(?"%(+'"DII'2(+">'+,"&'I%'c-I'('3%I"
(--?&""D(?"+,-"I'3A1-f%+%-&"')"+,-"+-I,('1'B%-&"%(E'1E-?"O"
#('+,-*"I'*-"&+*-(B+,"')"8(?%D"%&" %+&"(D+2*D1"*-&'2*I-">D&-O"U,'2B,"8(?%D"3D@"
('+",DE-"*%I,"?-A'&%+&"')"D11"+,-"'*-&"D(?"3%(-*D1&"G"'*"')"D"2(%)'*31@"",%B,"b2D1%+@"G"%+",D&"
D>2(?D(+" &2AA1%-&"')"3'&+" +,-3" O"W-",DE-"B''?"'*-&"')" &+--1"D(?"D123%(23O"W-",DE-"
D>2(?D(+"&2AA1%-&"')"'*-&"')"+,-"/'(?-*"3-+D1"+%+D(%23""D(?"&-E-*D1"*D*-"-D*+,"3D+-*%D1&"G"
+,'2B,"/-",DE-"('+"2&-?"+,-3"-))-I+%E-1@"O"/-",DE-"D"ED&+"I'D&+1%(-"/,%I,"&+'*-&"3D(@"
3'*-"*-&'2*I-&"D(?"-(-*B@"&2AA1%-&"O"U,-@"D*-"+,-"&+*-(B+,&"')"'2*")2+2*-"D&"/-"2&-"3'*-"
') +,-"1D(?"*-&'2*I-&"O2(?-*&-D"*-&'2*I-&"D*-"@-+"+'">-"-fA1'*-?O"
8("D??%+%'("+'"+,-&-"G"/-",DE-"D("-fI-11-(+"">D&-"")'*"1%E%(B""*-&'2*I-&^"E-*@"*%I,"
>%'?%E-*&%+@g" D>2(?D(+" " &2(&,%(-g" ED*%-?" DB*'cI1%3D+%I" I'(?%+%'(&G" D13'&+" " D"3%I*'I'&3"
')""+,-""B1'>-G")'*3""D*I+%I""I'1?""+'"+*'A%ID1""B*--(""+'"+*'A%ID1""B*--(""+'"">D*-"?-&-*+&g"D(?"
A1-(+@" "')" "*D%(" ")D11G" +,'2B,"/-""?'""('+"+DA"%+" "-))-I+%E-1@O"U'"" %112&+*D+-^" %)" +,-""D((2D1"
*D%()D11" " D11" "'E-*" " " 8(?%D"/-*-" "-E-(1@" " &A*-D?" " "'E-*" " +,-" "I'2(+*@" " G" +,-"/D+-*" "/'21?"
-fI--?""'(-""3-+-*"%(""?-A+,O"8)"'(1@""/-""I'21?""+DA""&2I,""1D*B-&&-s"8(?%DY&""+-I,('1'B@
QT"
E%&%'(""=K=K"" %&" ">2%1+" "D*'2(?" %+&" "(D+2*D1" " " *-&'2*I-" ">D&-G" " %+&"ED&+" " " ",23D(""*-&'2*I-"
>D&-""D(?""+,-""I'*-""I'3A-+-(I%-&"""')""+,-" (D+%'(O!
I@;!!<;6;B0=D96!!9J!!=@;!!FD>D96 [@9:!!:0>!!D=!!,96;H"
8+"%&"?%))%I21+""+'""*-IDA%+21D+-""D11""+,-""?-+D%1&""')""+,-""3D33'+,"""-f-*I%&-&"?'(-"
>@"+,-! I"\%?" +D&C" )'*I-&" D(?" "AD(-1&O"8("#AA-(?%f" " "!"/-"" 1%&+" +,-" "(D3-&""')"
I,D%*A-*&'(&" "D(?""I'cI,D%*A-*&'(&"O"+,-*-"/-*-"D>'2+"QKK"A-*&'(&""DI+%E-"%("+,-""AD(-1&"
D(?""+D&C" )'*I-&O"
0D(@"3'*-cD>'2+"QKKKc"AD*+%I%AD+-?"+,*'2B,"*-&A'(&-&"+'"b2-&+%'((D%*-&G"'*"/%+,"
/*%++-("'*"'*D1" %(A2+&O"0D(@"'+,-*&"/,'"?%?"('+"*-&A'(?"+'"+,-"b2-&+%'((D%*-&" 1D+-*"&D%?"
+,D+" %+"/D&"D(" -fI-11-(+"-f-*I%&-"D(?" +,-"b2-&+%'(&" ,D?"&-+" +,-3" +,%(C%(BO"U,-@"/%&,-?"
+,-@" ,D?" D&C-?" +,'&-" b2-&+%'(&" +,-3&-1E-&" %(" +,-" I'(+-f+" ')" +,-%*" >2&%(-&&" '*" '+,-*"
DI+%ED+-&O"
;--A%(B"%("3%(?"8(?%DY&"(--?&O"H'*-"&+*-(B+,&"D(?"I'3A-+-(I%-&G"+,-")'I2&"/D&"
'(" +,-" I*2I%D1" &-I+'*&O" U,-@" /-*-" DB*'c)''?" A*'I-&&%(BG" *'D?" +*D(&A'*+D+%'(G" I%E%1"
DE%D+%'(G"/D+-*/D@&G"-1-I+*%I"A'/-*G"+-1-I'332(%ID+%'(&G"D?ED(I-?"&-(&'*&G"-(B%(--*%(B"
%(?2&+*%-&G" -1-I+*'(%I&" D(?" I'332(%ID+%'(&G" 3D+-*%D1&" D(?" A*'I-&&%(BG" I,-3%ID1"
A*'I-&&%(B" %(?2&+*%-&G" )''?"D(?"DB*%I21+2*-G" 1%)-" &I%-(I-&" D(?" >%'+-I,('1'B@G" ,-D1+,ID*-G"
&+*D+-B%I" %(?2&+*%-&G" D(?" &-*E%I-&O" #11" +,-&-" AD(-1&" D(?" +D&C" )'*I-&" D1&'" I'(&%?-*-?" +,-"
?*%E%(B" )'*I-&" D(?" %3A-(?%(B" )DI+'*&" %(" +,-%*" '/(" D*-D&" D(?" A*'E%?-?" &2BB-&+%'(&" )'*"
&A--?@"DI+%'(O"8("D??%+%'(G"+,-*-"/D&"D"&A-I%D1"AD(-1"'("J*%E%(B"_'*I-&"D(?"83A-?%3-(+&O"
U,-")'11'/%(B""AD*DB*DA,&"-f+*DI+-?"D(?"D?DA+-?")*'3"D")-/"U8_#H"?'I23-(+&"?-&I*%>-"
>'+,"+,-"'>a-I+%E-&"D(?"3-+,'?'1'B@O"
MDN" A*'E%?-" ?%*-I+%'(&" )'*" (D+%'(D1" %(%+%D+%E-&" %(" &I%-(I-" D(?" +-I,('1'B@" +'"
*-D1%d-"D"E%&%'(")'*"8(?%D"2A+'"=K=Kg"
M>N" A*'E%?-"D"&+*'(B">D&%&" )'*"A'1%I@" )*D3-/'*C"D(?" %(E-&+3-(+")'*"XjJ"%("
+,-"B'E-*(3-(+"D(?"+,-"A*%ED+-"&-I+'*gD(?"
MIN" I'(+*%>2+-"+'"+,-"?-E-1'A3-(+"')"D("%(+-B*D+-?"<jU"A'1%I@">'+,"D+"+,-"&+D-"
D(?"(D+%'(D1""1-E-1&O"
U,-" 3Da'*" 1'(Bc+-*3" (D+%'(D1" D&&-&&3-(+" D(?" )'*-ID&+%(B" -f-*I%&-" /D&"
I'(+*%>2+-?" %(+'"&-E-(+--("AD(-1&"D(?"+D&C" )'*I-&O":)"+,-&-G" +-("/-*-",-D?-?
QQ"
>@" -fA-*+&" )*'3" %(?2&+*@G" )%E-" )*'3" XjJ" %(&+%+2+%'(&" D(?" +/'" )*'3" +,-"
B'E-*(3-(+O" 5DI," +D&C" )'*I-" ,D&" D" I,D%*A-*&'(G" D" I'cI,D%*A-*&'(" D(?" D"
I''*?%(D+'*O"
U,-"&+2?%-&"-3A1'@-?"ED*%'2&"+-I,(%b2-&"')")'*-ID&+%(B"1%C-">*D%(&+'*3%(B"
&-&&%'(&G" A*-AD*D+%'(" ')" A-*&A-I+%E-" D(?" &I-(D*%'" *-A'*+&G" J-1A,%" *'2(?&G"
('3%(D1"B*'2A"+-I,(%b2-"&'3-"ID&-&G"&2>&-b2-(+"/'*C&,'A&G"-+IO"M&--")%B"PO!NO"
U,-"+D&C")'*I-&"D(?"AD(-1&"D??*-&&-?"+,-")'11'/%(B"b2-&+%'(&^
•" #*-"+,-*-"D*-D&"/,-*-"8(?%D",D&"D"&+*'(B"+-I,('1'B@">D&-e
•" W,D+" D*-" +,-" +-I,('1'B%-&" /,%I," ID(" ?*D3D+%ID11@" I,D(B-" 8(?%D(" &'I%D1" '*"
-I'('3%I"I'(?%+%'(&"'*"/,%I,",DE-"&A-I%)%-?"D?ED(+DB-&e
•" W,D+"D*-"+,-"&A%(c'))&")*'3"+,-"+-I,('1'B%-&"?-E-1'A-?e
•" W,D+"%&"+,-")'I2&"'("%(c,'2&-"D(?"%(?%B-('2&"+-I,('1'B%ID1"?-E-1'A3-(+e
•" W,D+"&,'21?">-"+,-"DI+%'(&G"&+*D+-B%-&"D(?"A'1%I%-&"/,%I,"/%11">-"%3A1-3-(+-?"
%("+,-")2+2*-"+'"&-I2*-"D"I'3A-+%+%E-"D?ED(+DB-"%("+,-"/'*1?"3D*C-+O
•" W,%I," D*-" +,-" +-I,('1'B%-&" +,D+"/'21?"I'3-" %(+'" +,-" )2+2*-" %("D" >%B"/D@">@"
=K!KG=K!QG=K=K"D(?"=K=Q"*-&A-I+%E-1@e
•" W,%I,"D*-"+,-"+-I,('1'B%-&">@"=KKKG"=KKQG=K!K"D(?"=K!Q"*-&A-I+%E-1@e"
U,-" I*'&&c" 1%(CDB-&" D(?" %(A2+" )1'/" >-+/--(" ED*%'2&" AD(-1&" D(?" +D&C" )'*I-&"
/-*-" 3D%(+D%(-?" +,*'2B," I,D%*A-*&'(&" I''*?%(D+%'(" D(?" +,-" &+D))O" #+" +,-"
&2>&-b2-(+"U8_#H"I'2(I%1"3--+%(B&G"&-E-*D1"+D&C")'*I-&"D(?"AD(-1&"A*-&-(+-?"+,-%*"
)%(?%(B&")*'3"+,-"*-A'*+&O"J2*%(B"+,-"=P"*?"U8_#H"I'2(I%1"3--+%(B",-1?"'("!V"#A*%1"
!\\]"%(".-/"J-1,%G"%+"/D&"?-I%?-?"+'"/%?-1@"?%&&-3%(D+-"+,-"*-A'*+&"/%+,"+,-",-1A"
')" %(?2&+*@G" %(?2&+*@cD&&'I%D+%'(&G" B'E-*(3-(+" ?-AD*+3-(+&G" DB-(I%-&G"
'*BD(%dD+%'(&" D(?"'+,-*" %(+-*-&+-?"B*'2A&" %(" +,-&-"D*-D&" &'"D&" +'" )'*321D+-"&'3-"
DI+%'(")'*"*-D1%d%(B"+,%&"+-I,('1'B@"E%&%'(")'*"8(?%DO"
U,-" A-*&A-I+%E-" D(?" &I-(D*%'" *-A'*+&" ')" +,-" AD(-1&G"J-1,%" *-&A'(&-&" D(?"
.'3%(D1"6*'2A"U-I,(%b2-"M.6UN"*D(C%(B&")'*3-?"+,-">D&%&"'("/,%I,"+,-"E%&%'("
D(?"DI+%'("*-A'*+&"/-*-")%(D1%d-?G"D(?"&2BB-&+%'(&"/-*-"D1&'")'*321D+-?")'*"A'1%I@"
B2%?-1%(-&G" &+*D+-B%-&" D(?" DI+%'(" A1D(&" )'*" +,-" B'E-*(3-(+G" %(?2&+*@G" XjJ"
%(&+%+2+-&"D(?"DID?-3%I"%(&+%+2+%'(&"+'"*-D1%d-"+,-"E%&%'(")'*"8(?%D"2A"+'"=K=KO
Q]
QL"
5DI," E%&%'(" " *-A'*+" I'(+D%(&" ED12D>1-" %()'*3D+%'(" '(" +,-" I2**-(+" &+D+2&G"
)'*-ID&+&G" D(?"D&&-&&3-(+"')"D" &-I+'*O":(-" ID(" &--" +,*'2B," +,-&-" *-A'*+&"ED*%'2&"
'2+I'3-&"D(?"&2BB-&+%'(&")'*"DI+%'("*D(B%(B")*'3"&%3A1-"3'?%)%ID+%'("')"A'1%I%-&"
D(?n'*"D?3%(%&+*D+%E-"3-D&2*-&"+'"+,-"%(+*'?2I+%'("')"*-1D+%E-1@"&%3A1-"+-I,('1'B@"
A*DI+%I-&"'("+,-"'(-",D(?G"D&"/-11"D&"+,'&-"%(E'1E%(B"3D&+-*@"')"(-/"D(?"-3-*B%(B"
I'3A1-f" +-I,('1'B%-&" '(" +,-" '+,-*O" :(-" /'21?" )%(?" D11" +,-&-" 'A+%'(&" >-%(B"
%(+-*I'((-I+-?O"8+"%&"E-*@"?%))%I21+"+'"I,''&-"'(-"'*"+,-"'+,-*"D1'(-"D&"&2))%I%-(+")'*"
8(?%DO"8+"%&"-&&-(+%D1"+'"'*I,-&+*D+-"D11"')"+,-3"%("D"&@&+-3D+%I"/D@"D(?"D1&'"/%+,"D"
*-D&'(D>1-"+%3-c&@(I,*'(%&3O"U,-&-"I'11-I+%E-1@" )'*3"+,-"U-I,('1'B@"$%&%'(" )'*"
8(?%D"2A"+'"=K=KO"8(?%D"U'?D@"')"P!"[21@"!\\]"ID**%-?"D(?"-fI12&%E-"A*-E%-/"2(?-*"
+,-",-D?%(B"YQK"U-I,('1'B%-&"U,D+"W%11"I,D(B-":2*"F%E-&Y">@"XDa"H,-(BDAADO"
U,-"3D33'+,"-f-*I%&-",D&"*-&21+-?"%("+/-(+@c)%E-"?'I23-(+&O"ROJO"J-E-"
6'/?DG"+,-("+,-"4*%3-"0%(%&+-*G"*-1-D&%(B"+,-"U-I,('1'B@"$%&%'("=K=K"*-A'*+&"'("
="#2B2&+"!\\]"%(".-/"J-1,%G"&D%?^"
8"D3",DAA@"+'"1-D*("+,D+"+,-"*-A'*+&"A*-&-(+"('+"'(1@"D"$%&%'("%("=K=K">2+"
D1&'"&A-11"'2+"+,-"%(+-*3-?%D*@"&+-A&"*-b2%*-?"+'">-"+DC-(">@"B'E-*(3-(+G"%(&+%+2+-&G"
%(?2&+*@" D(?" '+,-*&O"U,-" I'3%(B" @-D*&" *-b2%*-" B*-D+-*" -3A,D&%&" D(?" %(E-&+3-(+G"
AD*+%I21D*1@">@"%(?2&+*@"D(?">2&%(-&&",'2&-&G")'*"I*-D+%(B"%(?%B-('2&"+-I,('1'B%ID1"
&+*-(B+,&O"W,%1-"%+"%&"('+"(-I-&&D*@"+,D+"/-"?-E-1'A"-E-*@+,%(B"/%+,%("+,-"I'2(+*@G"
/-"&,'21?"*-3-3>-*"+,D+"+,-"I'3A-+%+%E-"/'*1?"*-&A-I+&"+-I,('1'B%ID1"&+*-(B+,&O"8"
,DE-" I'()%?-(I-" +,D+" '2*" 3D(DB-*&G" -fA-*+&" D(?" /'*C" )'*I-" ID(" 3--+" D(@"
I,D11-(B-c-E-(" +,-" I'3A1-f" +-I,('1'B%ID1" D(?" '*BD(%dD+%'(D1" +D&C&c%)" /-" 3DC-"
?-?%ID+-?"D(?"&2&+D%(-?"-))'*+&O" 8"/'21?"&2BB-&+" +,D+"/-"D11" I'33%+"'2*&-1E-&" +'"
+DC%(B"+,-"(-I-&&D*@" " )'11'/c2A"&+-A&O"U,%&"/%11">-"'2*"+*%>2+-"+'"+,'&-"/,'",DE-"
/'*C-?" ,D*?" )'*" &-E-*D1" 3'(+,&" +'" A*-AD*-" +,-&-" *-A'*+&O"U,-" *-A'*+&" &,'21?" >-"
/%?-1@" ?%&&-3%(D+-?" D(?" >-I'3-" D" &'2*I-" ')" %(&A%*D+%'(" +'" '2*" @'2(B-*"
B-(-*D+%'(O
QV"
U,-"3%(%&+-*"')""&+D+-"")'*"&I%-(I-"D(?"+-I,('1'B@G"4*')"SO;O"#1BD""&D%?g"
8(?%D"%&"'(-"')"+,-"E-*@")-/"I'2(+*%-&"/,%I,",D&"A*'?2I-?""&2I,"*-A'*+&O""U,%&"%("
%+&-1)"%112&+*D+-&"+,-"+*-(?"D&"+-I,('1'B%ID1"&+*-(B+,">2%1+"2A"%("'2*"%(&+%+2+%'(&G"%(?2&+*%-&"
D(?"2&-*&O"
<233%(B""2AG"8"&D%?^"
8",DE-"A*-&-(+-?"+,-"*-&21+&"%("&-E-*D1")'*23&"+'"ED*%'2&"4-*&'(&^"@'2(B"D(?"'1?O"
8")%(?"+,-3"2(%)'*31@"-(+,2&-?"D>'2+"+,-"E%&%'("D(?"+,-@"/D(+"+'"?'"&'3-+,%(B"&''(O"
U,-*-%("1%-&"'2*"&+*-(B+,O"W-",DE-"('+"*-D11@"+DAA-?"+,-"
_211" A'+-(+%D1" ')" '2*" 321+%c%(&+%+2+%'(D1" (-+/'*C-?" &+*-(B+,&O" 8" ,'A-" +,-&-" ?'I23-(+&"
/%11" A*'E%?-" &2I," D(" 'AA'*+2(%+@O" 8" )%*31@" >-1%-E-" +,D+" %B(%+-?" 3%(?&" D*-" +,-" A'/-*"
*-&'2*I-&O"HD("/-"+*%BB-*"+,-"@'2(B"3%(?&"%("(D+%'(D1"?-E-1'A3-(+e"
S-&G"/-"ID(O"
#"")-/"I,D%*A-*&'(&"A*-&-(+-?"+,-"C-@"*-&21+&O".'(-"')"+,-3",D?"
*-,-D*&-?"'*"-fI,D(B-?"('+-&">-)'*-" +,-" )2(I+%'(g" +,-" &3''+,(-&&"')" +,-"A*-&-(+D+%'("
&,'/-?",'/"/-11"+,-@",D?"D>&'*>-?""+,-")%(?%(B&O"
5E-(" +,'2B," +,-*-" D*-" +/-(+@c)%E-" ?'I23-(+&" )'*" &-E-(+--(" D*-D"
M&--)%BOPO=NG"+,-*-"D*-"+*-3-(?'2&"1%(CDB-&"DI*'&&"D11"')""+,-3O""_'*"-fD3A1-G"/,-("+,-"
(-D*" ?'2>1%(B" ')" " I-*-D1&" %&" -(E%&DB-?" )'*" =K=KG" %+" %3A1%-&" +,-" I*2I%D1" %3A'*+D(I-" ')"
A'&+c" ,D*E-&+%(B" A*'I-&&-&G" %(I12?%(B" &+'*DB-G" +*D(&A'*+D+%'(G" ?%&+*%>2+%'(" D(?"
3D*C-+%(BO" <%3%1D*1@G" %)" /-" D*-" +'" >-I'3-" 1-D?-*&" %(" 3DI,%(-" +''1" %(?2&+*%-&G" +,-"
?'I23-(+"ID11&")'*")'I2&%(B"'2*"&+*-(B+,""%("&')+/D*-""-(B%(--*%(B"U,*'2B,"+,-"/-D1+,"
')" '2*" &')+/D*-" -(B%(--*%(BG" /-" &,'21?" -(+-*" %(+'" H'3A2+-*c" #%?-?cJ-&%B(" D(?"
H'3A2+-*c#%?-?c0D(2)DI+2*%(B"MH#JcH#0NG"*-&21+%(B" %(" "8(?%D"D&&23%(B" 1-D?-*&,%A"
%("+,-"C-@"D*-D&"')"3DI,%(-"+''1&"D(?"&%3%1D*"%(?2&+*%-&""/%+,"ED12-cD??-?"&')+/D*-O":2*"
&+*-(B+,&" %(" +,-" I'(E-(+%'(D1" 3D(2)DI+2*%(B" ')" A1D(+&" D(?"3DI,%(-*@G" +,-" C('/1-?B-"
>D&-" %(" I,-3%&+*@G" +,-" B*'/+," ')" I'3A2+-*" &%321D+%'(" D&" /-11" D&" *%I," >%'?%E-*&%+@"
A*'E%?-"D"(-/"*'1-")'*"2&"%("+,-"3'?-*("I1-D("I,-3%ID1&
Q\"
<-I+'*G" &A-I%D1+@" I,-3%ID1&" D(?" (D+%'(D1" " A*'?2I+&O" 8(" ,-D1+," ID*-G" +,-"+-I,('1'B%ID1" " %(A2+&" /,%I," ,DE-" >--(" A*'a-I+-?" *-b2%*-" &+*-(B+,&" %(" D?ED(I-?"3D+-*%D1&G" &-(&'*&" D(?" -1-I+*'(%I&O"U,-" 1%(CDB-&" >-+/--("?%&I%A1%(-&" D(?" &-I+'*&"D*-"&'" %(+%3D+-"+,D+"/-"ID("?-A%I+" +,-3"D&" %(+-*I'((-I+-?"">'f-&O"5E-("(D+%'(D1"&-I2*%+@G"-I'('3%I"D(?")''?"&-I2*%+%-&"')+-("DAA-D*"D&"'(-O"U,-")%(D1"B'D1"%&"I1-D*^"+,-"A*'&A-*%+@"D(?"I'(+%(2-?",-D1+,"D(?"/-11c">-%(B"')"D11"'2*"A-'A1-O"
#)+-*"+,-"*-1-D&-"
#)+-*"+,-"*-1-D&-"')"+,-&-"?'I23-(+&G"+,-"D2+,'*&">-&%?-&"3D(@"'+,-*&",DE-"
+*DE-1-?"-f+-(&%E-1@"D(?"A*-&-(+-?" +,-%*" )%(?%(B&G"AD*+1@"/%+,"D" E%-/" +'"?%&&-3%(D+-" +,-
]K"
I'(I12&%'(&G" >2+" 3'*-" +'" (-+/'*C" A-'A1-" )'*" DI+%'(O" U,-" *-&A'(&-&" D+" +,-" &+D+-G" 1'ID1G"
%(&+%+2+%'(D1" D(?" %(?%E%?2D1" 1-E-1&" D*-" 'E-*/,-13%(BO" W-" >-1%-E-" +,D+" +,-*-" D*-" 3D(@"
%B(%+-?"3%(?&"%("?%))-*-(+"AD*+&"')"8(?%DG"%("?%))-*-(+"DB-"B*'2A&O"U,-"U-I,('1'B@"$%&%'("
/%11" B-(-*D+-" 321+%c3%&&%'(&" D(?" -DI," 3%&&%'(" %(" +2*(" ,2(?*-?&" ')" A*'a-I+&O" U,%&"
D3>%-(I-"/%11"3DC-"+,-"(D+%'("DI,%-E-"+,-"&+D+2&"')"D"?-E-1'A-?"(D+%'(O"U,-"E%&%'(G"/-"
>-1%-E-"+,-*-)'*-G"ID(">-"*-D1%d-?^"+,-"E%&%'("')"D"?-E-1'A-?"8(?%D"G/,%I,"ID("&--"8(?%D("
A*'?2I+&G" &-*E%I-&" D(?" +-I,('1'B%-&" -3-*B-" D&" /'*1?" I1D&&s" " F-+" 2&" ('/" -fD3%(-" +,-"
*-&21+&"A*-&-(+-?"%("+,-"U-I,('1'B@"$%&%'("?'I23-(+&O
]!!
K+&/*$#!!!L!
\99,V!%<BD7-.=-B;!!!06,!
AB97;>>D6<"
8)"+,-")D*3-*Y&",D(?&"&1DIC-("-E-("+,-"D&I-+%IY&"&+D+-"/%11""")D%1O"
U,%*2CC2*D1G!KT^]"#>'2+" T'A-*" I-(+" ')" '2*" A-'A1-" 1%E-" >-1'/" +,-" A'E-*+@" 1%(-" +'?D@O"
U,-@" )DI-"A*'>1-3&"')"?D@c+''c?D@" -f%&+-(I-G"/%+,"('+"-('2B,"3'(-@" +'">2@"
&%3A1-")''?"%+-3&G"')+-("('+"-E-(")'*"+,-"(-f+"3-D1O""<+%11G"+,-"&%+2D+%'("%&"32I,"
>-++-*"+,D("/,D+" %+"/D&"D+"3D(@"A-*%'?&">-)'*-" %(?-A-(?-(I-"D(?"-E-("?2*%(B"
+,-"!\]K&O"U'?D@Y&"+--(DB-*&"/'21?"('+"C('/"D>'2+"+,-"(-D*")D3%(-"I'(?%+%'(&"
+,D+"A*-ED%1-?" %("I-*+D%(" *-B%'(&"')" +,-"I'2(+*@" >-)'*-" %(?-A-(?-(I-"D(?"-E-("
D)+-*G"D(?"AD*+%I21D*1@"D>'2+"'2*"?-A-(?-(I-"'("#3-*%ID("/,-D+"%("+,-"&%f+%-&O!
I@;!7BD>D>!06,!"6,D06!J99,!>;7-BD=G"
4*')"<O;O"<%(,DG"D("-3%(-(+"8(?%D("DB*%I21+2*D1"&I%-(+%&+"/,'"1-?"+,-")''?"D(?"
DB*%I21+2*-" AD(-1" ')" +,-" U-I,('1'B@" $%&%'(" %&" ')+-(" )'(?" ')" b2'+%(B" +,-"
)'11'/%(B^"
8+"%&"D1&'"%3A'*+D(+"+'"*-ID11"+,-"-fA-*%-(I-"')"HO"<2>*D3D(%D3G"+,-"
+,-("7(%'("3%(%&+-*"')"DB*%I21+2*-""?2*%(B"+,-"I*%+%ID1"@-D*&"')"!\]Qc]]"D(?"
!\]]c]LO"R-" ,D&" &+D+-?" +,D+" h/-" ,D?" +'" %3A'*+" !K" 3%11%'(" +'(-&" D(?" !!"
3%11%'("+'(-&"?2*%(B"+,-&-"+/'"@-D*&c+,D+"/D&"D"?D(B-*"&%B(D1G"@'2"ID(Y+">-"
?-A-(?%(B" 2A'(" %3A'*+-?" )''?cB*D%(&" D+" +,D+" 1-E-1G" AD*+%I21D*1@" /,-(" %+"
ID3-" )*'3" !=KKK" 3%1-&" D/D@O" J2*%(B" +,-" &-I'(?" @-D*" ')" +,D+" I*%+%ID1"
A-*%'?" ')" ?*'2B,+G" 4*-&%?-(+" [',(&'(G" >-ID2&-"')" I-*+D%(" A'1%I%-&" ,-" ,D?"
D?'A+-?G"/-"*-DI,-?"D"&+DB-"/,-*-"+,-*-"/-*-"&+'IC&" )'*"'(1@"+/'"/--C&"
D(?"+,-*-"/D&"('+,%(B"%("+*D(&%+"%("+,-"A%A-1%(-YO"l"
U,%&"I*%&%&"BDE-"+,-"I'2(+*@Y&"1-D?-*&,%A"D("'AA'*+2(%+@"+'"*-&'1E-"+'">-I'3-"&-1)c"
&2))%I%-(+"%(")''?"B*D%(&O"U,%&"A-*%'?"D1&'"I'%(I%?-?"/%+,"D">*-DC+,*'2B,"%("+-I,('1'B@"
D+"%(+-*(D+%'(D1"I-(+-*&")'*"%3A*'E-3-(+"')"*%I-"D(?"/,-D+"&+*D%(&O"8(?%D"+''C"D?ED(+DB-"
')"+,-&-"+-I,('1'B%-&G"-fA-*%3-(+-?"/%+,"+,-3G"D(?"1D2(I,-?"1D*B-c&ID1-"DB*%I21+2*D1"
-f+-(&%'("&-*E%I-&G"%(&+-D?"')"E%-/%(B"+,-&-"+-I,('1'B%-&"3-*-1@"D&"*-&-D*I,"I2*%'&%+%-&O
]="
W%+,%("+,*--"@-D*&"+,-"A*'?2I+%'("')"/,-D+"?'2>1-?O"U,%&"1-?"+'")''?""B*D%("&-1)c"
&2))%I%-(I@"%("+,-"!\LK&"/,-("/-"?-E-1'A-?"*%I-"D(?"/,-D+"ED*%-+%-&"DII-A+D>1-"+'"'2*"
A-'A1-O"
FD+-*"/,-("+/'"')"+,-"/'*&+"?*'2B,+&"')"+,-"I-(+2*@"'II2**-?"%("!\L\"D(?"!\VLG"
+,-"/'*1?"?%?"('+"+DC-"('+-"')"+,-3">-ID2&-"('")''?"D%?"/D&"D&C-?")'*O"U,-"I'2(+*@"
('/",D&"D">2))-*"&+'IC"')"D>'2+"PQ"3%11%'("+'(-&"')")''?"B*D%(&O"U,-"!\\K&",DE-"&--("D"
I-*+D%("?-B*--"')"?%E-*&%)%ID+%'("')"DB*%I21+2*-"D(?"-fA'*+&"')"ED*%'2&"DB*%I21+2*D1"
A*'?2I+&"%(I12?%(B"/,-D+"D(?"*%I-O"U,-*-"%&"D1&'"D"B*'/+,"%("+,-"DB*%I21+2*-c>D&-?"
A*'I-&&%(B"%(?2&+*@O!
M5*5#$!6$$0.!&60!'&/&,1)1*1$."
<'"ID("/-"*-&+"'("'2*"'D*&G"I'3)'*+D>1-"%("+,-">-1%-)"+,D+"+,-*-"D*-"('"3'*-"A*'>1-3&"'("
+,-")''?")*'(+e""W%11"+,-*-">-"('"A'&&%>%1%+@"')"D"*-A-D+"')"+,-",23%1%D+%'("D(?"&+*-&&"+,-"
I'2(+*@"D(?"'2*"A-'A1-",D?"+'"B'"+,*'2B,")*'3"!\]Q"+'"!\]Le"
W-"3D@"1''C"D+"+D>1-"TO!">-1'/G"/,%I,"%&"D"A*-?%I+%'(O!
I%EKL!P(C!
)B95;7=;,!NB0D6!"1A9B=>!D6!&'''!!06,!!&'C'"
H'2(+*%-&"""""""""""""""""""""""""""""""""""""""""""""""""""""""""0%11%'("""""""""""""""""U'(-&!
&'''!!!!!!!!!!!!!!!!!!!!!!&'C'"
<'2+,"#&%D" \O=""""""""""""""""""""""""""!=OV"
5D&+"#&%D""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""P!OT""""""""""""""""""""""""""P\OK"
8(?%D" ]O\""""""""""""""""""""""""""!TO!"
4DC%&+D("""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""=O!"""""""""""""""""""""""""""TOQ"
8(?'(-&%D"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""QOL"""""""""""""""""""""""""""LO]"
H,%(D"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!!OP"""""""""""""""""""""""""=!O]"
<'2*I-^""U8_#HG"_''?"D(?"#B*%I21+2*-^""U-I,('1'B@"$%&%'("=K=K
]P"
#II'*?%(B"+'"+D>1-"TO!G"8(?%D"3D@",DE-"+'"%3A'*+"D>'2+"!T"3%11%'("+'(-&"')")''?"
B*D%(&">@"=K!K"D(?"+,-("%3A'*+&"/%11"B*'/"D+"+,-"*D+-"')"="A-*"I-(+"-E-*@"@-D*s"HD("/-"
?*D/"I'3)'*+")*'3"+,-")DI+"+,D+"4DC%&+D("/%11",DE-"+'"%3A'*+"TOQ"3%11%'("+'(-&"%("=K!K"
D(?"H,%(D"=!O]"3%11%'("+'(-&e"#1'(B"/%+,"3D(@"'+,-*&"/,'",DE-"&+2?%-?"+,-&-"%&&2-&"%("
?-A+,"D(?" +,'2B,+"D>'2+"A'&&%>1-"&'12+%'(&G"/-">-1%-E-" +,D+"/-"(--?" ('+"DII-A+" +,-&-"
I'(I12&%'(&"D+"D11"&%(I-"8(?%D",D&"+*-3-(?'2&"A'+-(+%D1")'*"%(I*-D&%(B"A*'?2I+%'(O"8(?%D"
-%+,-*"D1*-D?@" ,D&" +,-" (-I-&&D*@" +-I,('1'B%-&"'*"ID("?-E-1'A" +,-3"-D&%1@O":2*"A-'A1-"
D(?"'2*")D*3-*&"D*-"-fI-A+%'(D11@"-(+*-A*-(-2*%D1G"D(?",DE-"A*'E-?"%+"DBD%("D(?"DBD%(O"
92+"/-" ID(" >-1%-" +,-" B1''3@"A*-?%I+%'(&" '(1@"/,-("/-" *-&'1E-" +'"/'*C" ,D*?"/%+," D"
1'(Bc+-*3"E%&%'(O"W-"ID(('+"D))'*?"+'">-1%-E-"+,D+"/-"D*-")D*"-('2B,"D,-D?"%("+,-"*DI-"
+'"B'"+'"&1--A"1%C-"+,-",D*-"/,%I,"1'&+"+'"D"+'*+'%&-O!
\99,!,;106,!06,!=@;!"6,D06!A;9A.;"
F-+"2&"AD2&-")'*"D"3'3-(+"D(?"&--",'/"&'3-"')"+,-"?''3&?D@"A*-?%I+%'(&"D>'2+"
DED%1D>%1%+@"')")''?"B*D%(&"%("8(?%D"'*"%+&"%3A'*+"D*%&-O"<'3-"')"+,-"*-D&'(&"D*-^"
MDN" #"B*'/%(B"A'A21D+%'(O"8(?%DY&"A'A21D+%'("%&"A*'a-I+-?"D+"!OP">%11%'(">@"+,-"
@-D*"=K=KO"
M>N" 5I'('3%I"B*'/+,"%&"D('+,-*")DI+'*O"#&"+,-"-I'('3@"B*'/&G"A-'A1-"-D*("
3'*-"D(?"I'(&23A+%'("*%&-&O"8+"/%11">-"D",DAA@"?D@"/,-("'2*"A''*",DE-"
-('2B,"+'"-D+O"
MIN" 8("D??%+%'(G"+,-*-"%&"D"?-)%(%+-"I,D(B-"%("1%)-&+@1-O"U,-*-"%&"D"I1-D*"+*-(?"
+'/D*?&"I'(&23A+%'("')"3-D+"A*'?2I+&"/%+,"+,-"%(I*-D&-"%("%(I'3-O"
H'(&23A+%'("')"('(c"E-B-+D*%D(")''?"+-(?&"+'"%(I*-D&-"+'"+,-"I'(&23A+%'("
')"I-*-D1&"D&"/-11O"
9D&-?"'("3D(@"&2I,")DI+'*&"D(?"ED*%D>1-&G"&-E-*D1"&+2?%-&"%(?%ID+-"+,-"?-3D(?"')"
)''?"B*D%(&"%("+,-"@-D*"=KKK"+'"*D(B-")*'3"D&"1'/"D&"!\!"3%11%'("+'(-&"+'"D&",%B,"
D&"=V]"3%11%'("+'(-&s"#"&I-(D*%'")'*"?'3-&+%I"?-3D(?")'*")''?"B*D%(&")'*"?%))-*-(+"
*D+-&"')"-I'('3%I"B*'/+,"%&"B%E-("%("+D>1-"TO=O"
<%(I-" /-" (--?" D+" 1-D&+" D" L" A-*" I-(+" B*'/+," *D+-" +'" *-DI," ?-E-1'A-?"
I'2(+*@"&+D+2&G"%+" %&"&D)-"+'"D&&23-"D"?-3D(?"')"PTK"3%11%'("+'(-&"')")''?"B*D%(&"
>@" =K=KO" #11" +,-&-" A*'a-I+-?" %(I*-D&-&" %(" ?-3D(?" A1DI-" D??%+%'(D1" A*-&&2*-" '("
8(?%D("DB*%I21+2*-O"U,-"'A+%323"D11'ID+%'("')"1D(?"D(?"'+,-*"*-&'2*I-&")'*"ED*%'2&
]T"
I*'A&"/%11"%+&-1)"A'&-"D"I,D11-(B-O"HD("/-"?-I1D*-G"I'(&23-"1-&&"3%1C"'*"'%1"'*"-D+"
1-&&" E-B-+D>1-&e" U,-&-" D*-" +,-" (-/" I,D11-(B-&" >-)'*-" 2&" %(" D" ('+c+''c?%&+D(+"
)2+2*-O!
?@0..;6<;>!=9!"6,D06!0<BD7-.=-B;"
U,2&" +,-" B*'/%(B" ?-3D(?" )'*" )''?" B*D%(&G" E-B-+D>1-&G" )*2%+&G" 3%1CG"
A'21+*@"D(?"3-D+"D&"/-11"D&"ID&,"""""""I*'A&"%&"B'%(B"+'"A*-&-(+"B*-D+-*"D(?"(-/-*"
I,D11-(B-&"+'"DB*%I21+2*-O"F-+"2&"('+")'*B-+"+,D+"'2*"-f%&+%(B")''?"&-I2*%+@",D&">--("
3D%(1@">*'2B,+"D>'2+">@"+,-"%(I*-D&-"%("%**%BD+-?"DB*%I21+2*-"D(?"+,-"%(+*'?2I+%'("
')!
>(INO!L;P!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!QR"
4*'a-I+-?"R'2&-,'1?"J-3D(?")'*"_''?"%("8(?%D"D+"L"A-*"I-(+"""8(I'3-"6*'/+,!
X*66*0#$3! &++;-.!%*;,(%*.0!0(6-+0!
P6#..#*+!6($)#:!$*+(,S!
C]]C!!!!!!!!!!C]]^! &'''!!!!!!&'C'!
&'&'"
_''?"B*D%(&"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!]VOP""""""""""""!VQO!"""""""""=KVO]"""""=]]OT"PTPOK"
0%1C"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""TVOV" ]=OK""""""""""VPOV"""""!QPO!"=L!OK"
5?%>1-"'%1"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""TOP"""""""""""""""""QO!""""""""""""]OP"""""""""\OT"!POK"
$-B-+D>1-&" Q]OK"""""""""""""""]QOL""""""""""VKOK"""""!!LO="!]VOK"
_*2%+&"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!=OQ"""""""""""""""!]O!""""""""""==O="""""""T=O\"V!OK"
0-D+G")%&,"j"-BB&" POT""""""""""""""""TOT""""""""""""]O=" !=OL"=LOK"
<2BD*""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""\O]""""""""""""""!KO\""""""""""!=OV"""""""!LOP"==OK
]Q"
<'2*I-^!I"\%?^"_''?"D(?"#B*%I21+2*-^""U-I,('1'B@"""$%&%'("""=K=K"
,%B,c@%-1?%(B"ED*%-+%-&"')"I*'A&O"H2**-(+"&+D>%1%+@"%("A*'?2I+%'("%&"+,*'2B,"/,-D+G"1D*B-1@"
D" /%(+-*" I*'AO" R'/-E-*G" +,-" *D%(" )-?" D*-D&G" /,%I," DII'2(+" )'*" LK" A-*" I-(+" ')" +,-" (-+"
I21+%ED+-?" D*-D&" ')" +,-" I'2(+*@G" ,DE-" ('+" >-(-)%+-?" )*'3" 3'?-*(" ?-E-1'A3-(+&" %("
DB*%I21+2*-O":)"+,%&"LK"A-*"I-(+G"D>'2+"PK"A-*"I-(+"D*-D"%&"2(?-*"?*@"1D(?"DB*%I21+2*-"/,-*-"
D((2D1"*D%()D11"%&"2A"+'"TKK"33O"
U,-"A*'>1-3&" %("D*-D&"/%+," *D%(" )-?"DB*%I21+2*-"(--?" +'">-"2(?-*&+''?O"U,-" 1-&&-*"
+,-"*D%("%("D("D*-DG"+,-"B*-D+-*"+,-"+*'2>1-")'*"+,-")D*3-*&"D(?"E%11DB-*&"+,-*-O"8"*-ID11"3@"
)*-b2-(+"E%&%+&" +'" &2*D+BD*,G"XDaD&" +,D(G" %(" +,-" 1D+-"!\]KY&"D(?"LKY&G" %("I'((-I+%'("/%+,"
I-*+D%(" %3A'*+D(+" A*'a-I+&G" /,-(" &'2(?%(B" *'IC-+&" ')" +,-" 8(?%D(" <ADI-" X-&-D*I,"
:*BD(%dD+%'(" " M8<X:N"/-*-" >-%(B" +-&+-?O" 8" *-3-3>-*" +,-" AD+,-+%I" &%+2D+%'(" >--("/,%I,"
+,-("A*-ED%1-?O"J2*%(B"3D(@"*-D&'(&G"%+"/D&"*D*-"+'")%(?"-E-("')"B*D&&O".'/"/,-("%"E%&%+"
&'3-"D*-D&"%("XDaD&"+,D(")'*"'+,-*"A*'B*D33-*&G"8"D3"&+*2IC">@"+,-"I,D(B-">*'2B,+"D>'2+"
>@" +,-" %**%BD+%'("/D+-*&" ')" +,-" 8(?%*D"6D(?,%" HD(D1O" U,-" " I,D(B-" %(" +,-" b2D1%+@" ')" +,-"
A-'A1-Y&"1%E-&"%&"&'3-+,%(B"+,D+"B%E-&"3-"%33-(&-"&D+%&)DI+%'(O"8"-(E%&DB-"D("8(?%D("/%+,"
3D(@" &2I," ID(D1&c>%B" D(?" &3D11cI'((-I+%(B" ?%))-*-(+" *%E-*" &@&+-3" D(?" /D+-*" >'?%-&O" 8"
/'21?" 1%C-" +'" &--"D(" 8(?%D"/,'&-"/D+-*&,-?&"D(?" *D%(/D+-*"D*-"3D(DB-?" +'">-(-)%+" +,-"
A''*"A-'A1-"D(?"+'">''&+"'2*"DB*%I21+2*-O"
W,D+"%&"+'">-"?'(-"/%+,"+,-"*D%(")-?"*-B%'(&"+%11"+,-(e"F-DE-"+,-3"+'"+,-"I-(+2*%-&c"
'1?" +'%1" ')" +,-%*" )D*3-*&e" :*" (-B1-I+" +,-3"/%+," ,'A-" +,D+" /-" 3D@" >-" D>1-" +'" 3DC-" D"
>*-DC+,*'2B," %("(-/-*" +-I,('1'B%-&"&'"+,D+"/-"ID("DI,%-E-"/,D+-E-*"/-"/D(+" )*'3"+,-"
PK" A-*" I-(+" %**%BD+-?G" *-1D+%E-1@" D))12-(+" DB*%I21+2*D1" d'(-&e" U,-*-" ,DE-" >--(" &-E-*D1"
&2II-&&)21"&3D11"-fA-*%3-(+&"%("?%))-*-(+"AD*+&"')">'+,"+,-"*D%(")-?"D(?"?*@"1D(?"D*-D&"')"
'2*" I'2(+*@O" _'*" -fD3A1-G" +,-*-" ,D&" >--(" I'(&%?-*D>1-" &2II-&&" %(" &'3-" A'IC-+&" ')"
0D,D*D&+*D"%("I'(&-*E%(B"/D+-*G"A1D(+%(B"')"+*--&G"?-E-1'A%(B"E%11DB-c1-E-1"B*Dd%(B"1D(?&"
D(?"*-B21D+%(B"/D+-*"2&-">@"+,-"I'332(%+@O"U,%&",D&",-1A-?"%("*D%&%(B"&2%+D>1-"I*'A&"D(?"
1%E-&+'IC" D(?" %(" I*-D+%(B" D" E%D>1-" 3D*C-+" &@&+-3O" 8)" /-" '(1@" *-ID11" ,'/" +,-" 6*--("
X-E'12+%'("+''C"A1DI-^"&-E-*D1")D*3-*&")*'3"+,-"%**%BD+-?"*-B%'(&"')"8(?%D"/-*-"B%E-("D("
'AA'*+2(%+@"+'"E%&%+"'+,-*"AD*+&"')" +,-"/'*1?O"<,'21?"/-"('+"D&"D"I'2(+*@"-f+-(?"&%3%1D*"
'AA'*+2(%+%-&"+'"+,-")D*3-*&"%("+,-"*D%(")-?"D(?"?*@"1D(?"*-B%'(&"')"'2*"I'2(+*@"D+"1-D&+"+'"
E%&%+" '+,-*" A1DI-&" %(" '2*" I'2(+*@" MD(?" %)" A'&&%>1-" +'" B'" D>*'D?" +''N" +'" '>&-*E-" )'*
]]"
+,-3&-1E-&" +,-" &2II-&&" ')" )D*3-*&" +,-*-" /,'" ,DE-" 'E-*I'3-" &%3%1D*" I'(?%+%'(&" +'"
%(I*-D&-"A*'?2I+%E%+@O"
:2*"A-'A1-"D(?")D*3-*&"D*-"D11"%(+-B*D+-?"%(+'"'(-",2B-"3D*C-+O"#11"+,'&-"I'(I-*(-?"
(--?" +'" >-" -?2ID+-?" D>'2+" D('+,-*" %3A'*+D(+" &I%-(+%)%I" )DI+G" +,*'2B," '>&-*ED+%'(G"
?%&I2&&%'(" D(?" 3D&&" I'(+DI+&^" +,D+" %&G" *-BD*?%(B" DB*'c-I'1'B%ID1" I'(&%?-*D+%'(&O"
#II'*?%(B1@G"+,-"?*@"1D(?&"')"I-(+*D1"8(?%D"ID(('+",DE-",%B,"A*'?2I+%E%+@"*D+-&"')"*%I-"D(?"
/,-D+"M/,%I,"D*-"+,-"3Da'*")''?"B*D%(&"*-1%&,-?">@"8(?%D(&NO"U,-*-)'*-G"DB*%I21+2*-"%("+,-"
I-(+*D1" 8(?%D(" ?*@" 1D(?&" ID(" >-" )'I2&-?" '(" A21&-&G" '%1&--?&G" E-B-+D>1-&G" )*2%+&" D(?"
1%E-&+'ICO"W,-D+"D(?"*%I-"ID(">-"I'(I-(+*D+-?"%("3'*-"&2%+D>1-"*-B%'(&O"5DI,"&+D+-"&,'21?"
I'(I-(+*D+-" '(" DB*%I21+2*D1" A*'?2I+&" 3'&+" &2%+-?" +'" %+&" DB*'cI1%3D+%I" I'(?%+%'(&G" D&" %+"
ID(('+" ,'A-" +'" >-" &-1)c&2))%I%-(+" %(" D11" +,-" -&&-(+%D1" I'33'?%+%-&O" 8(" D??%+%'(G" &A-I%D1"
D++-(+%'("&,'21?" >-"B%E-(" +'"+,-"DB*%I21+2*-" %(" +,-"-D&+-*(" *-B%'("')" 8(?%DG" -&A-I%D11@" +'"
%(I*-D&-" A*'?2I+%E%+@O" FD*B-" AD*+&" ')" -D&+-*(" 8(?%DG" +,*'2B," >1-&&-?" >@" -fI-11-(+" DB*'c"
I1%3D+%I"D(?"/D+-*"*-&'2*I-&G",DE-"D"E-*@"1'/"A*'?2I+%E%+@O"U,%&"&%+2D+%'(",D&"+'"I,D(B-"%)"
8(?%D"D%3&"D+")''?"&-I2*%+@"D(?"-I'('3%I"A*'&A-*%+@O"
U,-*-" %&" D" (--?" )'*" 321+%cA*'(B-?" DI+%'(O" 0-*-1@" ,DE%(B" >-++-*" &--?&" '*" >-++-*"
%**%BD+%'("/%11" ('+" " &2))%I-O" U,-" +D&C&" %(E'1E-?" +'?D@" D*-"32I,"3'*-" I'3A1-f" +,D(" +,-"
/-*-"?2*%(B"+,-"6*--("X-E'12+%'(O"
5(E%*'(3-(+D1"A*'>1-3&"D(?"%(+-*(D+%'(D1"A*-&&2*-&"
8(" +,-" I'3%(B" @-D*&" /-" ID(('+" D??*-&&" '2*" DB*%I21+2*D1" A*'>1-3&" %("
%&'1D+%'(O"U,-"6-(-*D1"#B*--3-(+"'("+*D?-"D(?"+D*%))&"M6#UUN"D(?"+,-"'>1%BD+%'(&"+'"+,-"
W'*1?"U*D?-":*BD(%dD+%'("MWU:N",DE-"%3A1%ID+%'(&")'*"+,-")2+2*-"I'2*&-"')"DB*%I21+2*D1"
*-&-D*I," D(?" ?-E-1'A3-(+" D(?" '+,-*" %(%+%D+%E-&" /-" 3D@" +DC-O" U,-&-" *-1D+-" +'" B%E%(B"
3D*C-+" DII-&&" +'" '+,-*" I'2(+*%-&" %(" &-11%(B" +,-%*" A*'?2I+&" %(" 8(?%DO" U,%&" /%11" A1DI-" D"
?-3D(?"'("b2D1%+@"D(?"-))%I%-(I@"%("'2*"'/("DB*%I21+2*D1"'A-*D+%'(&O"F%3%+&"/%11">-"D1&'"
A1DI-?"'(",'/"32I,"?'3-&+%I"&2AA'*+"/-"ID("B%E-"+'"'2*"DB*%I21+2*-O"
X-&+*%I+%'(&"%("+-*3&"')"&D(%+D*@"D(?"A,'+'c&D(%+D*@"3-D&2*-&">'+,")'*"%3A'*+"D(?"
-fA'*+"')"DB*%I21+2*D1"I'33'?%+%-&"/%11" >-" %3A'&-?O"U,%&"3-D(&" +,-*-"/%11" >-"?-3D(?&"
+,D+" *-&%?2-&" ')" A-&+%I%?-&" D(?" I,-3%ID1&" >-" *-?2I-?" +'" +,-" %(+-*(D+%'(D11@" DII-A+D>1-"
&+D(?D*?&O"<2AA'&-"/-"&D@"+,D+"/-"/%11"D?'A+"+,-&-"&+D(?D*?&"'(1@")'*"-fA'*+&"D(?"+,D+")'*"
'2*"'/("?'3-&+%I"3D*C-+&"/-"3D@"*-1Df"+,-&-"I'(?%+%'(&O"U,-("'2*"'/("A-'A1-G"&+D*+%(B
]L"
/%+,"-(E%*'(3-(+D1"DI+%E%&+&G"/%11"%(&%&+"+,D+"/-"&,'21?"D1&'"D?'A+"%(+-*(D+%'(D1"&+D(?D*?&"
D&" '+,-*/%&-" +,-" ,-D1+," ')" '2*" A-'A1-" /%11" >-" %(" ?D(B-*O" U,D(C&" +'" %()'*3D+%'("
+-I,('1'B@G"+,-"?-3D(?")'*"&+%))-*"-(E%*'(3-(+D1"&+D(?D*?&"%("D(@"'(-"AD*+"')"+,-"/'*1?"
&''(">-I'3-&"D"B1'>D1" %&&2-O"U,2&G"+,-"2&-"')"DB*'I,-3%ID1&"D(?")-*+%1%d-*&",D&"+'"')+-("
I'()'*3" +'" %(+-*(D+%'(D1" &A-I%)%ID+%'(&O" U,-*-" D*-" D1&'" '+,-*" I'(&%?-*D+%'(&" ')" -b2D1"
(D+%'(D1" +*-D+3-(+" 2(?-*" +,-"WU:O" 8(" '+,-*" /'*?&G" /-" ID(('+" ,DE-" '(-" &+D(?D*?" )'*"
8(?%D(">2&%(-&&"D(?"D('+,-*")'*"D")'*-%B("-(+%+@O"
<-*%'2&" %3A1%ID+%'(&" D*%&-" )*'3" ED*%'2&" %(+-*(D+%'(D1" '>1%BD+%'(&" )'*" +,-"
A*'+-I+%'(" ')" 8(+-11-I+2D1" 4*'A-*+@" X%B,+&" M84XNO" U,%&" 3-D(&" )D*" B*-D+-*" I'33-*I%D1"
*-&+*%I+%'(&" %("+,-"2&-"')"+-I,('1'B%-&"?-E-1'A-?"-1&-/,-*-" %("+,-"/'*1?O"5E-("'2*"'/("
*-&-D*I," ID(('+" >-" >D&-?" '(" 3-*-" %3%+D+%'(" ')" )'*-%B(" +-I,('1'B%-&O" _'*" -fD3A1-G" /-"
ID(('+"D&&23-"-D&@"DED%1D>%1%+@"')">-++-*"&--?&"D&"/-",D?"'>+D%(-?"+,*'2B,"+,-"0-f%ID("
,%B,c@%-1?%(B" ED*%-+%-&" D+" +,-" >-B%((%(B" ')" '2*"6*--(" X-E'12+%'(^" /%+(-&&" +,-" +*-(?" ')"
)'*-%B("&I%-(+%&+&"D(?"+-I,('1'B%&+&"D++-3A+%(B"+'"AD+-(+"D("DB*%I21+2*-c*-1D+-?"8(E-(+%'(c"
(-/"3-+,'?&"')"B*'/%(B">D&3D+%"*%I-cD&",DAA-(-?"*-I-(+1@"%("+,-"7<O"
.'/" 1-+" 2&" B'" >DIC" +'" +D>1-" TO!" /,%I," A*'a-I+&" A'&&%>1-" )''?" B*D%(" %3A'*+&" >@" D"
(23>-*" ')" I'2(+*%-&" /%+," ,2B-" A'A21D+%'(&O" 8)" D" (23>-*" ')" +,-3" ?'" %3A'*+G" 3D(@"
I'3AD(%-&" %("?-E-1'A-?"I'2(+*%-&"/%11"*-&'*+"+'"&-11%(B" )''?"B*D%(&"D&"D">2&%(-&&O"M5E-("
('/" +,-@" ?'G" +,'2B," %(" /D@&" +,D+" D*-" ('+" +''" '>E%'2&ON" :(I-" /-" ,DE-" +'" ?-A-(?" '("
%3A'*+&"+'"A*'E%?-")''?")'*"'2*"A-'A1-G")'*-%B("I'3AD(%-&"D(?"B'E-*(3-(+&"ID("2&-"+,%&"
%&&2-"A'1%+%ID11@"+'"?-*%E-"3D(@"+*D?-"D(?"A'1%+%ID1"D?ED(+DB-&O"8+"D1&'"1%C-1@"+,D+"+,-@"/%11"
*-&'*+"+'"I'(?%+%'(D1"+%-&"/,%I, /%11"A-*A-+2D+-"+,-"?-A-(?-(I-O"
#("-(E%*'(3-(+D1"I'(I-*("+,D+"%&"1%C-1@"+'",DE-"%3A1%ID+%'(&")'*"8(?%D("DB*%I21+2*-"
%&"+,-"-3%&&%'("')"BD&-&"1%C-"3-+,D(-"D(?"ID*>'("?%'f%?-O"U,-&-"D*-"ID1I21D+-?">D&-?"'("
ED*%'2&"3'?-1&O" 8(?%D"/%11" >-" +'1?" +,D+"/-" I'(+*%>2+-" &'"32I," D(?" +,-*-"3D@" >-" &'3-"
A-(D1+%-&"'("+,'&-"/,'"-3%+"3'*-"+,D("D("%(+-*(D+%'(D1%+@"-&+D>1%&,-?"1%3%+O"<'3-"')"+,-"
I'(I-*(&" I'21?" >-" D(" '2+I'3-" ')" I'3A1-f" B-'A'1%+%ID1" 3'+%ED+%'(&O" U,-" 1D++-*" ID("
D&&23-"ED*%'2&")'*3&"+'"3D&C"A*-&&2*-&O"8("D(@"ID&-"/-",DE-"+'"1-D*("+'"3DC-"'2*"'/("
3'?-1&"D(?"I'2(+-*"B-'A'1%+%ID1c3'+%ED+-?"A*-&&2*-&O"_2*+,-*G"&%(I-"I1%3D+%I"I,D(B-&"/%11"
D))-I+"DB*%I21+2*-G"/-"&,'21?"D1&'">-"D>1-"+'")%1+-*"'2+")DI+&"')"&I%-(+%)%I"*-1-ED(I-"D(?"+DC-"
D?ED(I-"DI+%'("+'"A*'+-I+"'2*"DB*%I21+2*-O
]V!
I@;!=;[email protected]<D;>"
8("D??%+%'("+'"*-A*-&-(+%(B"+,-"(D+%'(D1"/%11"D(?"'*BD(%d%(B"D"1D*B-c&ID1-"(D+%'(D1"-))'*+G"
+-I,('1'B%-&"A1D@"D"I*2I%D1"*'1-"%("DI,%-E%(B")''?"&-I2*%+@")'*"+,-"I'2(+*@O"
W-" /'21?" (D+2*D11@" &+D*+" /%+," >%'+-I,('1'B@" D&" %+" ?-D1&" /%+," 3D(@" D&A-I+&" ')"
>D&%I"%(A2+&"+'"DB*%I21+2*-^"&--?&G"A1D(+&G"&'%1"+*-D+3-(+G"-+IO"8+"%&"I*2I%D1"+'")''?"&-I2*%+@G"
%)"/-"+DC-"+,-"*%B,+"&+-A&O":(-"')"+,-"3'&+"%3A'*+D(+"+-I,('1'B%-&"%&"+,D+"/,%I,"ID("1-D?"
+'"+*D(&B-(%I"A1D(+&^"+,D+"%&G"A1D(+&"/,%I,"D*-"h,23D(c3D?-Y"D(?"D*-"+D%1'*-?"+'"3--+"+,-"
?-&%*-?"'>a-I+%E-&">@"+*D(&)-*"D(?"-fA*-&&%'("')"+,-"?-&%*-?"+@A-"')"B-(-"+'"D"+D*B-+"A1D(+O"
W'*1?/%?-G" D" (23>-*" ')" &2I," ?-E-1'A3-(+&" D*-" +DC%(B" A1DI-O" 8(" !\\Tc\QG" ')" +,-" +'+D1"
(23>-*" ')" TV=" +*D(&B-(%I" A1D(+&" +,D+"/-*-" A*'?2I-?G" PK" A-*" I-(+"/-*-" )%-1?" +-&+-?" )'*"
,-*>%I%?-"*-&%&+D(I-G"=T"A-*"I-(+")'*"A*'?2I+"b2D1%+@G"=!"A-*"I-(+")'*"%(&-I+"*-&%&+D(I-G"!T"
A-*" I-(+" )'*" E%+D1" *-&%&+D(I-" D(?" V" A-*" I-(+" )'*" '+,-*" &A-I%D1" +*D%+&O" UD*B-+&" ')" +,-"
?-E-1'A-?"/'*1?Y&">%'+-I,('1'B@"%(?2&+*@"D*-"B%E-("%("+D>1-"TOPO"H*'A&"*-A'*+-?"+'",DE-"
>--(" +*D(&)'*3-?"D*-"E-B-+D>1-&G" )%-1?"I*'A&G" )*2%+&"D(?"(2+&">-&%?-&"'+,-*&O"#3'(B" +,-"
E-B-+D>1-&" D*-^" D&AD*DB2&G" ID**'+G" ID21%)1'/-*G" ID>>DB-G" I-1-*@G" I2I23>-*G" ,'*&-*D?%&,G"
1-++2I-G" A-DG" A'+D+'" D(?" +'3D+'O" #3'(B" )%-1?" I*'A&^" D1)D1)DG" I'*(G" I'++'(G" )1DfG" '%1&--?"
M*DA-NG"*%I-G"*@-G"&'@>-D(G"&2BD*">--+"D(?"&2()1'/-*O"#(?"D3'(B" )*2%+&n(2+&"/-*-"DAA1-G"
A-D*"D(?"/D1(2+O!
I%EKL!P(O!
I0B<;=>!D6!"1AB9F;1;6=!J9B!>;.;7=;,!7B9A>!D6!
#9B=@!%1;BD70!06,!L-B9A;!I@B9-<@!ED9=;[email protected]<G"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
iiiiiiiiiiiiiiiiiiii"
U'3D+'""""^""""""""83A*'E-?"+-f+2*-G"%(I*-D&-?"&'1%?&G"-(,D(I-?")%*3(-&&"
4'+D+'""""""^""""""""8(I*-D&-?"&'1%?&G"*-?2I-?">*'/(%(BG"2(%)'*3"&+D*I,"?%&+*%>2+%'("
HD('1D^""""""""0'?%)%-?"'%1"I'3A'&%+%'(G"%3A*'E-?"'%1"b2D1%+@G"%3A*'E-?")--?"b2D1%+@"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii
]\"
&'2*I- "̂U8_#H"_''?"D(?"#B*%I21+2*- "̂U-I,('1'B@"$%&%'("=K=K"
#&" ')" ('/" %+" DAA-D*&" +,D+" +,-" 3Da'*" >-(-)%+&" ')" >%'+-I,('1'B@" D*-" )'I2&-?" '(" +,-"
A*'I-&&%(B"%(?2&+*@G"-OBO"+'3D+'G"A'+D+'O"U,-&-"D*-"('+"+,-"I*'A&"/,%I,"ID("A*'E%?-")''?"
&-I2*%+@"('/"'*"%("+,-")2+2*-O"
8(" 8(?%DG" D" I-*+D%(" D3'2(+" ')" I*'A" M+*D(&B-(%IN" >%'+-I,('1'B@" %&" >-%(B" A2+" +'" 2&-O"
0Da'*"-))'*+&"D*-">-%(B"2(?-*+DC-("+'"3DC-"I'++'("A-&+c*-&%&+D(+O"0'&+"*-D?-*&"/'21?">-"
D/D*-" ')" +,-" &AD+-" ')" &2%I%?-&" >@" I'++'(" )D*3-*&" *-I-(+1@O" F-+" 2&" ,'A-" +,-*-" /%11" >-"
&I%-(+%)%I" D(?" +-I,('1'B%-&" >*-DC+,*'2B,&" %(" A-&+c*-&%&+D(+" +*D(&B-(%I" I'++'(" &--?&O" U%11"
/-"DI,%-E-"&2II-&&" " %(" +,%&"'("D"I'33-*I%D1"&ID1-"/-"ID(('+">-"&2*-"+,D+"/-"/%11",DE-"
-('2B," &2AA1%-&" +'" A1D(" 1D*B-c&ID1-" 'A-*D+%'(&O" .'" ?'2>+" &2I," *-&-D*I,-&" &,'21?" >-"
-(I'2*DB-?G">2+"/-"&,'21?" 1''C"D+"'+,-*" )*'(+&" +''O"8+" %&"(-I-&&D*@" )'*"*-&-D*I,"'("I*'A"
>%'+-I,('1'B@" %("8(?%D"+'">-")'I2&-?"'("'2*"%3A'*+D(+"I*'A&G"-&A-I%D11@"+,'&-"*-1D+-?"+'"
)''?"&-I2*%+@O"
W-",DE-"+'">-D*"%("3%(?"+,D+"+,-"DAA1%ID+%'("')">%'+-I,('1'B@"3D@"('+",DE-"D(@"3Da'*"
%3ADI+"'(" )''?"&-I2*%+@" %("8(?%D" %("+,-"(-f+" )%E-"@-D*&G" +,'2B,"I*'A&"')" %(?2&+*%D1"ED12-"
D(?"E-B-+D>1-&"3D@">-(-)%+"+'"&'3-"-f+-(?O"U,-*-)'*-G"/-"/%11"&+%11"(--?"+'"?-A-(?"2A'("
I'(E-(+%'(D1" DB*%I21+2*D1" +-I,('1'B%-&" -E-(" /,%1-" /-" +D*B-+" >%'+-I,('1'B@" )'*" )2+2*-c"
'*%-(+-?" DAA1%ID+%'(&O" 8(+-*(D+%'(D11@G" ('"3Da'*" >*-DC+,*'2B," %(" %3A*'E-3-(+" ')"/,-D+"
&+*D%(&",D&"'II2**-?"1D+-1@O"R@>*%?"*%I-"%&"3'*-"A*'?2I+%E-O"H,%(D",D?"D")-/"3Da'*"%(%+%D1"
&2II-&&"%("%(I*-D&%(B"+,-"@%-1?"+,*'2B,"1D*B-c&ID1-"2&-"')",@>*%?"*%I-O"8(?%D",D&">-B2("2&-"
')" ,@>*%?" *%I-" *-I-(+1@"D(?" +,-*-"D*-"A1D(&" +'" %(I*-D&-" %+O"92+" %+"3D@">-"?-('+-?"+,D+" %("
*-I-(+"@-D*&" +,-*-",D&">--("('")2*+,-*" %3A*'E-3-(+"%("H,%(-&-"A*'?2I+%'("')"*%I-O"<+%11G"
,@>*%?"*%I-"/%11"A1D@"D(" %3A'*+D(+"*'1-" %("8(?%DG"D&"/-"D*-"@-+" +'"%(+*'?2I-"%+"'("D" 1D*B-"
&ID1-O"
U,-*-"D*-"D"(23>-*"')"%3A*'E-3-(+&"%("DB*%I21+2*D1"%3A1-3-(+&G"3DI,%(-*@G"A1D&+%I&G"
/D+-*"+-I,('1'B%-&G"DB*'cI,-3%ID1&"D(?")-*+%1%d-*&"/,%I,"D*-"A'&&%>1-"D(?"D*-"/-11"/%+,%("
+,-" I'2(+*@Y&" *-DI,O" U,-*-" %&" D(" 2*B-(+" (--?" +'" I'(&-*E-" /D+-*" %(" D" (23>-*" ')" /D@&^"
*D(B%(B")*'3"/D+-*",D*E-&+%(B"+'"?*%A"%**%BD+%'(O"U,-*-"D*-"D"(23>-*"')"B''?"-fD3A1-&"%("
8(?%D" ')" "/D+-*" ,D*E-&+%(B" +,'2B," +,-&-" D*-" %(" %&'1D+-?" A'IC-+&O" 8&*D-1" ,D&" 3D?-"/D+-*"
I'(&-*ED+%'("D"(D+%'(D1"A'1%I@"D(?",D&"DI,%-E-?"*-3D*CD>1-"*-&21+&O"8(?%D"/%+,"%+&"&%d-"D(?
LK"
/%+,">-++-*"-(?'/3-(+&"%("/D+-*"*-&'2*I-&"ID("3DC-"3%*DI1-&",DAA-(O"#"3Da'*"%(?2&+*@"
ID("B*'/"D*'2(?"&2I,"DB*%I21+2*-"&2AA'*+"&@&+-3&O"
U,-*-" D1&'" '+,-*" +-I,('1'B%-&"/,%I," ID(" I'(+*%>2+-" D" B*-D+" ?-D1" +'" DB*%I21+2*-O"W-"
(--?"+'"2&-"D11"DED%1D>1-"3-+,'?&">-ID2&-"+,-"I'3%(B"@-D*&"D*-"('+"B'%(B"+'">-"-D&@"'("
+,-")''?")*'(+O"F-+"2&"1''C"D+"'(-G"&ADI-"+-I,('1'B@O"
X-3'+-"&-(&%(B"'*" +DC%(B"-1-I+*'(%I"A%I+2*-&"')" +,-"-D*+," )*'3"&ADI-" %&"-f+-(&%E-1@"
2&-?" )'*"D&&-&&%(B"(D+2*D1"*-&'2*I-&G" 1D(?"?-B*D?D+%'("D(?"/D+-*"*-&'2*I-&"D&"/-11"D&" +'"
A*-?%I+"I*'A"@%-1?"D(?"&('/"3-1+G"D3'(B"'+,-*"+,%(B&O"<'3-"?-E-1'A-?"I'2(+*%-&"3'(%+'*"
I*'A" @%-1?&" ')" '+,-*" I'2(+*%-&" +'" ,-1A" +,-%*" '/(" -fA'*+&O" 8(?%D" %&" &+*'(B" %(" +,-" D*-D" ')"
*-3'+-"&-(&%(B"+-I,('1'B%-&O"W-",DE-"'2*"'/(",%B,"*-&'12+%'("*-3'+-"&-(&%(B"&D+-11%+-&"
/,'&-"A%I+2*-&"D*-"D11"'E-*"+,-"/'*1?"I'33-*I%D11@O"W-"D1&'",DE-"-fI-11-(+"IDAD>%1%+%-&"
%(" 2+%1%d%(B" *-3'+-1@" &-(&-?" ?D+D" )'*" ED*%'2&" DAA1%ID+%'(&^" B*'2(?/D+-*" +D*B-+%(BG" &'%1"
&D1%(%+@"D&&-&&3-(+G"I*'A"@%-1?"-&+%3D+-&G"D(?"&'"'(O"8("D??%+%'(G"&ADI-"+-I,('1'B@"ID(">-"
2&-?" E-*@" -))-I+%E-1@" " +'" D&&%&+" -f+-(&%'("/'*C^" ?%&&-3%(D+-" &2II-&&" &+'*%-&" +'" )D*3-*&G"
-?2ID+-" +,-3" '(" ?'&" D(?" ?'(Y+&G" D(?" +'" ,-1A" +,-3" D&C" b2-&+%'(&" +,*'2B," &D+-11%+-O" #"
(23>-*" ')" -fA-*%3-(+&" I'(?2I+-?" >@" 8<X:" %(" +,%&" *-BD*?" %(" RD*@D(D" D(?" 0D?,@D"
A*D?-&,",DE-"+'">-"+DC-("2A">@"'+,-*"&+D+-&"%("D"3Da'*"/D@O":2*")D*3-*&"&,'21?"D(?"ID("
>-"B%E-(")DI%1%+%-&"+'"C--A"ADI-"/%+,"D?ED(I-&"%("DB*%I21+2*D1"+-I,('1'B@O"S-&G"%+"%&"D"1'+"')"
-))'*+O"92+"/-",DE-"A1-(+@"')" +D1-(+"D(?"D1&'"+,-" *-&'2*I-&O"#&"&,'/(" %("+,-"I,DA+-*"'("
&-*E%I-&G"A*'E%?%(B" +,-&-" )DI%1%+%-&" %("?%))-*-(+" 1D(B2DB-&G"AD*+@"/%+,"A2>1%I"&2AA'*+" D(?"
AD*+1@"+,*'2B,"ED*%'2&">2&%(-&&",'2&-&"D(?"A*%ED+-">'?%-&G"ID(">-I'3-"D"B''?"&'2*I-"')"
-3A1'@3-(+"B-(-*D+%'(">@"%+"&-1)O"
<A-I%)%I"D(?"2*B-(+"3-D&2*-&"(--?-?"
:2*"I'2(+*@"%&"D(?"/%11"I'(+%(2-"+'">-"D"3Da'*"A*'?2I-*"D(?"I'(&23-*"')"/,-D+"D(?"*%I-O"
U,-"D*-D&"A*-&-(+1@"2(?-*"/,-D+"D(?"*%I-"D*-"*-&+*%I+-?"D(?"D*-">-I'3%(B"2(&2&+D%(D>1-"%("
+,-")DI-"')"B*'/%(B"?-3D(?O"U,-*-)'*-G"&-E-*D1"%33-?%D+-"&+-A&"+,D+"/%11"-(&2*-"&+D>%1%+@"
%("A*'?2I+%'("D*-^"
DN" 9*'D?-(" +,-" A*'?2I+%'(" D*-D" ')" /,-D+" %(" -D&+-*(" 74G" 9%,D*G" :*%&'(G" W-&+"
9-(BD1"D(?"+,-".'*+,c5D&+O"
>N" 8(I*-D&-"*%I-"A*'?2I+%'("%("+*D?%+%'(D1"D*-D&">@"D?'A+%(B",@>*%?"*%I-O"
IN"8(I*-D&-"A*'?2I+%'("')"I'D*&-"B*D%(&"%("I-(+*D1"8(?%D"D(?"?-E-1'A"ED*%'2&
L!"
4*'?2I+&G"/,%I,"ID("AD*+1@G"&2>&+%+2+-"*%I-"D(?"/,-D+O"_''?"+-I,('1'B@"&,'21?">-"
?-E-1'A-?"D&"D("%3A'*+D(+"D*-D")'*">'+,"?'3-&+%I"D&"/-11"D&"-fA'*+"3D*C-+&"
?N" 0DC-" I-(+*D1" 8(?%D" +,-" A*'?2I+%'(" I-(+-*" ')" E-B-+D>1-&" D(?" )*2%+&G" D(?" 3DC-"
-))'*+&" +'" 3DC-" +,-&-" I'33'?%+%-&" DED%1D>1-" D+" D" 1'/-*" A*%I-O" U,%&" /%11" ,DE-" D("
-))-I+"'("+,-"I'(&23A+%'("')"*%I-"D(?"/,-D+O"#"&%3%1D*"-))'*+"%&"(--?-?"%("D">%B"/D@"
%("+,-"%(?'cB-(-+%I"A1D%(&"%("/%(+-*"
-N"6*-D+-*"-3A,D&%&"'("+2>-*'2&"I*'A&"&2I,"D&"A'+D+'G"+DA%'ID"D(?"&/--+"A'+D+'"+'"
3DC-"+,-3"DED%1D>1-"I,-DA-*"*D+-&O"
)N"U,-*-" %&"D" &,'*+DB-"')"A21&-&" >2+"('+"')"A*'+-%(" %(" +,-"I'2(+*@O":(" +,-" >D&%&"')"
QKB3" A*'+-%(&" A-*" IDA%+DG" !V" 3%11%'(" +'(-&" ')" A*'+-%(" %&" (--?-?" )'*" '(-c>%11%'("
&+*'(B"A'A21D+%'(O"0%1CG"-BB&G")%&,"D(?"3-D+"D1'(-"A*'E%?-"!!"3%11%'("+'(-&"')",%B,"
b2D1%+@" A*'+-%(&" D(?" 3'*-" +,D(" =Q" 3%11%'(" +'(-&" I'3-" )*'3" I-*-D1&G" A12&-&G" '%1"
&--?&G")*2%+&G"E-B-+D>1-&"D(?"'+,-*"&'2*I-&O"R'/-E-*G"3--+%(B"+,-"?-3D(?"')"A21&-&"
/%11"*-3D%("D"A*%'*%+@">-ID2&-"')"?%-+D*@",D>%+&O"
BN" <%(I-" E-B-+D>1-" D(?" )*2%+" I'(&23A+%'(" /%11" %(I*-D&-" %(" )2+2*-G" D(" DAA*'A*%D+-"
I,'%I-"I'(&%?-*%(B"DB*'cI1%3D+-G"%(A2+"(--?&G"-I'('3%I"*-+2*(&"&,'21?">-"D**%E-?"D+"
)'*"-E-*@"*-B%'(O"H'1?"&+'*DB-"D(?"1'(B"?%&+D(I-"+*D(&A'*+"-&&-(+%D1"*-b2%*-3-(+&")'*"
+,%&"A2*A'&-"
,N"#(%3D1&" A*'?2I+"/%11" >-" B*-D+" ?-3D(?" +,-*-)'*-" -))'*+&" +'" >-" 1%(C" A*'?2I+%'(G"
A*'I-&&%(B"D(?"3D*C-+%(B"+'">-"2(?-*+DC-(")'*"-DI,"%(?%E%?2D1"A*'?2I+"%(E'1E-3-(+"
')"+,-"A*%ED+-"&-I+'*"3D@"A*'E-"E-*@"D?ED(+DB-&"
%N" FD(?" D(?"/D+-*" D*-"3'&+" +,-" %3A'*+D(+" *-&'2*I-&" )'*" DB*%I21+2*-G" D(?"/-" ,DE-"
+,-3" %(" D?-b2D+-"3-D&2*-O" 8(?%D" %&" '(-"')" +,-" )-/" I'2(+*%-&"/,-*-" (-D*1@" QK" A-*"
I-(+" ')" +,-" B-'B*DA,%ID1" D*-D" %&" D*D>1-G" D" >-(-)%+" ('+" DED%1D>1-" +'" I,%(D" '*"7<#O"
R'/-E-*G" A-*" IDA%+D1" DED%1D>%1%+@" ')" 1D(?" %&" I'(+%(2%(B" +'" ?-I1%(-G" 1-D?%(B" +'" &+%11"
&3D11-*G" 2(-I'('3%ID1" ,'1?%(B&O" U,-%*" &%d-" 3DC-&" %+" (-D*1@" %3A'&&%>1-" +'" 3DC-"
&2))%I%-(+" %(E-&+3-(+&" %("%(A2+&G"D(?"%(I*-D&%(B"A*'?2I+%'(")*'3"+,-3"%&"D"?%))%I21+"
A*'A'&%+%'(O"#"&+*D+-B@"%&"(--?-?"/,-*->@"&3D11")D*3-*&"?'(Y+" 1'&-"'/(-*&,%A"D(?"
@-+" >-I'3-" D" AD*+" ')" D" 1D*B-*" D*-D" ')" I21+%ED+%'(O" H'21?" +,-" A*%ED+-" &-I+'*" >-"
%(E'1E-?"%("+,%&"-))'*+e"J%))-*-(+"'A+%'(&n3'?-1&",DE-"+'">-"I'(&%?-*-?"'("+,-"%&"
MaN"WD+-*"&,'21?">-"+*-D+-?"D&"D"(D+%'(D1"*-&'2*I-"D(?"D&&-+"O<%(I-"+,-"&,D*-"')
L="
DB*%I21+2*-"%("/D+-*"&2AA1@"/%11"?-I*-D&-G"%+"%&"-&&-(+%D1"+,D+"/D+-*c2&-"-))%I%-(I@"
%3A*'E-&O"<A*%(C1-"D(?"?*%A"%**%BD+%'("D*-"(-I-&&D*@"%("3D(@"D*-D&G"D&"D1&'"+,-"
*-I@I1%(B"')"/D+-*O"U,-"&+'*DB-"')"/D+-*"')"DB*%I21+2*-"%("/D+-*"&2AA1@"/%11"?-I*-D&-G"
%+"%&"-&&-(+%D1"+,D+"/D+-*c2&-"-))%I%-(I@"%3A*'E-&O"<A*%(C1-"D(?"?*%A"%**%BD+%'("D*-"
(-I-&&D*@"%("3D(@"D*-D&G"D&"D1&'"+,-"*-I@I1%(B"')"/D+-*O"U,-"&+'*DB-"')"/D+-*"?2*%(B"
)1''?&"'*",-DE@"*D%(G"%(I12?%(B"B*'2(?"&+'*DB-G"%&"D"I*2I%D1"(D+%'(D1"+D&CO"W,-*-E-*"
A'&&%>1-G"AD*+%I21D*1@")'*",'*+%I21+2*D1"I*'A&G"-))'*+&"&,'21?">-"3D?-"+'"%(+*'?2I-"
3'?-*("3-+,'?&"') %**%BD+%'(O"021+%A1-"%(?2&+*%-&"(--?"+'"+DC-"AD*+O"
MCN"J%&-D&-&"D(?"%(&-I+"A-&+&G"1'&&"')"3%I*'>%D1")1'*D")*'3"&'%1&"D(?"'+,-*"&2I,")DI+'*&"
D??"+'"+,-"1'&&"')"I*'A"A*'?2I+%'("D(?"ID2&-"2("&2&+D%(D>%1%+@O"U,-"2&-"')"&@(+,-+%I"
A-&+%I%?-&"%&"I'(&%?-*-?"D",-D1+,",DdD*?O"8("&'3-"D*-D&"-E-("B*'2(?/D+-*",D&">--("
A'112+-?O"#("DAA*'DI,"/,%I,"/'21?"I'(&%?-*",'&+"A1D(+&G"I1%3D+%I")DI+'*&G"2&-"')"
>%'1'B%ID1"DB-(+&"D(?"I,-3%ID1&"(--?&"+'">-"-E'1E-?O"U,%&"/'21?">-"*-B%'("D(?"
&-D&'("&A-I%)%IO"R-(I-G"%+"/'21?",DE-"+'">-"D",%B,1@"C('/1-?B-c>D&-?"DAA*'DI,O"
U,-"8(?%D("DAA*'DI,"+'")''?"&-I2*%+@"%&"('+"+'">-"*-&+*%I+-?"'*"1%3%+-?"+'"
a2&+"3--+%(B"'2*"'/("?-3D(?&O"#("D(D1@&%&"')"+D>1-"TO!"*-E-D1&"+,D+"%+"ID(">-"I'(E-*+-?"
+'"'2*"D?ED(+DB-O"W-"&,'21?" +D*B-+"-fA'*+&"D&"/-11G" D&"D(" %(+-B*D1"AD*+"')"'2*" &+*D+-B@O"
83DB%(-" +,-" %()12-(I-" +,%&"/'21?"B%E-" +,-"I'2(+*@G" >-" %+" %("B-'A'1%+%I&G" >2&%(-&&"D(?" %("
'+,-*"&+*D+-B%I"I'(&%?-*D+%'(&O"
8(I%?-(+D11@G"4*')""<%(,DG"/,'"1-?"+,-"&+2?@"D(?"/D&",-1A%(B"/%+,"E%&%'("
=K=KG"?-E-1'A-?"&-*%'2&"-@-"A*'>1-3&"%( +,-"I'2*&-"')",%&"/'*CO"92+",-"%&"D"3D("/%+,"*-D1"
E%&%'("D(?"/%11O"R-"/-(+"
+,*'2B," +,-" '*?-D1&" ')" D(" 'A-*D+%'(" D(?"3-?%ID+%'(" D(?" )%(%&,-?" +,-" *-A'*+O"R-" %&" ('/"
>2&@"/%+,"'*BD(%d%(B"DI+%'("ADICDB-&O"
8("+,-"I'2*&-"')")%(D1%d%(B"DI+%'("A1D(&"+'"*-D1%d-"+,-"DB*%I21+2*-"E%&%'(")'*"
8(?%DG"/-"3-+"%(+-*-&+%(B"B*'2A&"')"A-*&'(&"%("*2*D1"D*-D&G"%("DB*%I21+2*D1"%(&+%+2+%'(&"D(?"
-E-(" %(" %(?2&+*@O"W-"3-+" D(" -(B%(--*c%(?2&+*%D1%&+" )*'3" -D&+-*(" 8(?%D"/,'",D&"3D?-" D"
1%)-+%3-"I'33%+3-(+" +'"A*'E%?%(B"DAA*'A*%D+-" 8(?%Dc3D?-"3DI,%(-&" +'"*%I-" )D*3-*&O"R-"
+*DE-1&">@"*'D?"+'"+D1C"+'"A-'A1-",%3&-1)"+'"DII-&&"+,-%*"(--?&O"R-",D&">--("&2II-&&)21"%("
3DC%(B" D" A'2I,%(B" 3DI,%(-" /,%I," ID(" >-" 'A-*D+-?" >@" D" C-*'&-(-" -(B%(-" ')"
DAA*'f%3D+-1@"+,*--",'*&-A'/-*g"%+"ID("D1&'"AD*+1@"*2("'(">%'cBD&O"U,-"A'2I,%(B"3DI,%(-
LP"
/-%B,&"'(1@"D>'2+"!KKCBO"8+",D&"+'">-"1%B,+"('+"'(1@">-ID2&-"%+",D&"+'">-"A,@&%ID11@"1%)+-?G"
>2+"D1&'"?2'"+'"+,-",%B,"3'%&+2*-"I'(+-(+"')"'2*"&'%1&"?2*%(B"+,-"*D%(&"/,-("*%I-"%&"B*'/(O"
H'&+c/%&-"%+"ID("*-A1DI-"D"AD%*"')">211'IC&"/%+,"+,-%*"3D%(+-(D(I-"*-b2%*-3-(+&O"8+",D&"D"
/D+-*" A23A" D++DI,-?" +'" %+" +'" 3%+%BD+-" ?*'2B,+G" D&" /-11" D&" D??c'(" )DI%1%+%-&" )'*"
+*D(&A1D(+%(B"D(?" +,*-&,%(BO"U,-" %(?2&+*%D1%&+G"#a%+"0D,DAD+*DG",D&"3D?-" %+" D"3%&&%'(" +'"
%(+*'?2I-" +,-&-"3DI,%(-&" %(+'" )D*3%(BO"R%&" &1'BD(&^" hU,-" )D*3-*&"D(?"3DI,%(-&" &,'21?"
B*'/"+'B-+,-*YO"8(?%D",D&"3D(@"&2I,"D>1-"A-'A1-O"U,-*-"D*-"3D(@"?-?%ID+-?"@'2+,&"D(?"
.6:&O"F-+"2&">2%1?"'("+,-%*"&+*-(B+,&O!
)9>=_@0BF;>=!=;[email protected]<D;>!06,!0<B9_J99,!AB97;>>D6<"
U,-" D2+,'*&" D*-" I'()%?-(+" +,D+" 8(?%D" ID(" -fI-1" D(?" 2&,-*" %(" D" (-/" -*D" %("
DB*%I21+2*-O"8(?%D"ID("-3-*B-"D&"D"B1'>D1"A'/-*"%("+-*3&"')"DB*%I21+2*D1"A*'?2I-"G"('+"D&"D"
?%))%?-(+"-fA'*+-*">2+"D&"'(-"IDAD>1-"')"3--+%(B"B1'>D1"&+D(?D*?&O"#>'E-"D11G"/-"&,'21?"
>-" D>1-" +'" B*'/" A1-(+@" ')" )''?" )'*" '2*" A-'A1-O" U,%&" DB*%I21+2*D1" A*'&A-*%+@" /%11" D1&'"
1D*B-1@",-1A"-1%3%(D+-"*2*D1"A'E-*+@O"
92+"%+"%&"('+"-('2B,"'*"A-*,DA&"-E-("A'&&%>1-"+'"&+'A"D+"DB*%I21+2*-"D1'(-"%)">-(-)%+&"
)*'3" %+" D*-" +'" DII*2-" +'" +,-" A-'A1-" D(?" +,-" I'2(+*@O" W-" (--?" +'" B%E-" 32I," B*-D+-*"
D++-(+%'(" +'" A'&+c,D*E-&+" +-I,('1'B%-&O" U'?D@G" 1'&&-&" %(" +,-" )''?" &-I+'*" D*-" 1D*B-O"
5&+%3D+-&"')"&+'*DB-"1'&&-&"%(")''?"B*D%(&"ID(">-"D&",%B,"D&"!K"A-*I-(+">@"/-%B,+O"8("+,-"
)*2%+"D(?"E-B-+D>1-"&-I+'*"+,-"1'&&-&"D*-"-&+%3D+-?"+'">-"D&",%B,"D&"=Q"A-*I-(+O"F'&&-&"%("
3%1C"3D@">-"D>'2+"Q"A-*I-(+O"
0'?-*(%dD+%'("')"&+'*DB-"D(?"A*'I-&&%(B")DI%1%+%-&"/%11"('+"'(1@"*-?2I-"1'&&-&">2+"
D1&'",-1A"%("3'*-"-))%I%-(+"2&-"')">@A*'?2I+&O"
W-" D??*-&&" )'2*" 3Da'*" %+-3&^" I-*-D1&G" 3%1CG" E-B-+D>1-&" D(?" )*2%+&O" U,-&-" D*-"
I*%+%ID1")'*"+,-")''?"&-I2*%+@"')"'2*"I'2(+*@G"D(?"ID("D1&'",-1A"-&+D>1%&,"2&"D&"D("-I'('3%I"
A'/-*O"W-"D*-"D1*-D?@")%*&+"%("3%1C"D(?")*2%+"A*'?2I+%'(O"
:(1@" E%&%'(" %(" DB*'c)''?" A*'I-&&%(B" ID(" >-" ID+-B'*%d-?" %(+'" +,*--" >*'D?" +%3-"
A-*%'?&^" &,'*+" +-*3"/,-*-" +,-" *-&21+&" ID(" >-" &--(" &''(g" 3-?%23" D(?" 1'(B" +-*3"/,-*-"
*-&21+&"ID(">-"&--(""'(1@"D)+-*"&-E-("'*"-%B,+"@-D*&"'*"3'*-O"92+"'2*"+,%(C%(B"D(?"DI+%'("
&,'21?">-B%("('/s
LT"
<'3-"B1%3A&-&"') &2I,"D"E%&%'(")'*"8(?%D"ID(">-"+D>21D+-?"D&"2(?-*^"""""8&&2-&"j"E%&%'(""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""#I+%'("*-b2%*-?"%33-?%D+-1@!
3@9B=_=;B1!%7=D96U!?L%4L%K3"
R%B,"I'&+"321+%cI*'A",D*E-&+-*&"""""""""""""""""""J-E-1'A",D*E-&+-*&"IDAD>1-"')"('+"%?-D1")'*"8(?%D("I'(?%+%'(&O"8+""""""""""""""""")2(I+%'(%(B"'("&'%1"/%+,",%B,"8&"A'&&%>1-"+'"I,D(B-"+,-"&%+2D+%'(O"""""""""""""""3'%&+2*-"I'(+-(+"D(?"%("
&+D(?%(B"/D+-*O"0DC-"?-&%B("I,D(B-&"+'"D?DA+"RD*E-&+-*&"+'",D*E-&+"B*D%("D+",%B,"3'%&+2*-"1-E-1&O"
8(I*-D&-"2&-"')"3D(2D11@"'A-*D+-?""""""""""""""""4*'E%?-"B'E-*(3-(+")2(?%(B"3-I,D(%ID1"?-E%I-&")'*",D*E-&+%(BO""""""""""""""")'*"?-E-1'A3-(+"')"1'/cI'&+"
3D(2D11@"'A-*D+-?"3-I,D(%ID1"?-E%I-&O"X-E%-/"D(?"*-E%+D1%d-"-f+-(&%'("&-*E%I-&"+'"-?2ID+-")'*3-*&"D>'2+"D&&'I%D+-?">-(-)%+&O"
_''?G"#B*%I21+2*-"D(?"A*'I-&&%(B!
A,,;(,!J!^#,#*+! &:$#*+!)(_;#)(0!#66(0#-$(.3"X-?2I-"B12+"%("3D(+%&"?2*%(B""""""""""""""""""""""8(&+D11"D2+'3D+%I"I1-D(-*&"D(?"A*'I2*-3-(+O"X-?2I-"""""""""""""""""""""""""""""""""B*D?-*&"D+"+,-"3D(+%&O"ADICDB%(B"D(?"+*D(&A'*+D+%'(""""""""""""""""""""""8(%+%D+-"2&-"')"A1D&+%Ic1%(-?"a2+-"1'&&-&O"""""""""""""""""""""""""""""""""""""""""""""""""""""""B2((%-&O"0DI,%(-c&+%+I,"D11"
B2((%-&O"8(&+D11"!KK"A-*I-(+"/-%B,+%-&+"D+"D11"A'%(+&"')"1'D?%(B"D(?"2(1'D?%(BO"
0'?-*(%dD+%'("')"3%11&"D(?""""""""""""""""""""""""""7*B-"*%I-"3%11&"+'"3'?-*(%d-"%3A*'E-?"A*')%+D>%1%+@"%&"""""""""""""""""""""""""""""""D(?"2AB*D?-"'A-*D+%'(&"&2I,"I*2I%D1")'*"+,-"ED12-cD??%+%'("""""""""""""""""""""""D&^"I,D%(O"8+"%&"A'&&%>1-"+'"?'"&'" c 2&%(B"AD*>'%1%(B"+-I,('1'B%-&"/%+,"&%3A1-"+-I,('1'B%-&O"""""""""""""""""""""""""""""+,D+"*-b2%*-"1-&&"/D+-*"D(?"
B-(-*D+-"1-&&"-))12-(+O"c &2>&+%+2+%(B"*2>>-*"*'11-*&"/%+,"RJ45c*-%()'*I-?"*2>>-*"*'11-*&O"_DI%1%+D+-")'*3D+%'("')"I'(&'*+%D"')"3'?-*("*%I-"3%11&"+'")2(?
LQ"
*-&-D*I,"%("'*?-*"+'^"c"?-E-1'A"I'(+%(2'2&"AD*>'%1%(B"+-I,('1'B%-&"+'")2*+,-*"*-?2I-"-(-*B@"I'(&23A+%'("D(?"-))12-(+"B-(-*D+%'(O"c"?-E-1'A"ED12-cD??-?"&-I'(?D*@"D(?"+-*+%D*@"*%I-"A*'?2I+&O"
83A*'E%(B"&-I'(?D*@" 6'E-*(3-(+"+'")2(?"?-E-1'A3-(+"A*'I-&&%(B"')"*%I-"D&"I'++DB-""""""""""""""""""""""""1'/cI'&+"+-I,('1'B@">D&-?"'("%(?2&+*@"%&"D1&'"A'&&%>1-"D(?""""""""""""""""""""""""1'ID11@"DED%1D>1-")2-1"D(?"('(c",D&"+'">-"&+%321D+-?O" I'(E-(+%'(D1"-(-*B@"&'2*I-&O!
A,,;(,!J!^#,#*+!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!&:$#*+!)(_;#)(0!#66(0#-$(.3"FDIC"')"%(%+%D+%E-&"+'"?-E-1'A""""""""""""""""""""8(%+%D+-"I1'&-*"%(+-*DI+%'(">-+/--("(-/"&-I'(?D*@"A*'?2I+&""""""""""""""""""""""""""""/-+"3D%d-"3%11-*&"D(?"&-I'(?D*@")*'3"3D%d-"ID(">-"+DIC1-?"/%+,""""""""""""""""A*'?2I+M&A-I%D11@"3'?%)%-?"32I,"3'*-"ED12-cD??%+%'(")*'3"""""""""""""""&+D*I,-&N2&-*&")'*"?-E-1'A3-(+G"3D%d-O""""""""""""""""""""""""""""""""""""""""""""""""""""""""+*D%1&"D(?"I'33-*I%D1%dD+%'(O!
S$0152<*$#2!('*1-6B!KOTO(NU"
4DICDB%(B"D(?"+*D(&A'*+D+%'("""""""""""""""""""_DI%1%+D+-")'*3D+%'("')"D"1'&&-&"ID(">-">*'2B,+"+'"""""""""""""""""""""""""""I'(&'*+%23"I'3A*%&%(B"3'?-*("E-*@"1'/"1-E-1&O""""""""""""""""""""""""""""""""""""""""*%I-"3%11&"+'")%(?"*-&-D*I,"%("'*?-*"
+'^"c"%3A*'E-"-(-*B@"-))%I%-(I@"')"3%11&O"c"-f+*DI+"A*'+-%(")*'3"*%I-">*D(O!
K96<_=;B1!%7=D96U!?L4L%K3"
<,'*+DB-"')">21C"&+'*DB-""""""""""""""""""""""""""""5fA1'*-"+,-"A'&&%>1-"2&-"')")DI%1%+%-&"+'">-"3D?-"D" I'(+*'11-?"D+3'&A,-*-"D(?"+,%(B"')"D"AD&+O" $DI223"&+'*DB-"&@&+-3&O!
3@9B=_=;B1!%7=D96U!X"K/!
D**)!:-$$.(!%39#(+(!-+0!%(-.$%!!!!!!!!!!!!!!!!!A6<)*1(!-1-#.-2#.#$3!*'!$)-#+(0"ID*-"A*DI+%I-&"1-D?"+'"2(,-D1+,@"""""""""""""""3D(A'/-*")'*"E-+-*%(D*@"ID++1-"/%+,"1'/"A*'?2I+%E%+@O""""""""""""""""""""-f+-(&%'("&-*E%I-&"D(?"I*'&&c"F-D*(%(B"+'"+*-D+"D(%3D1&"D&""""""""""""""""""""">*--?%(BO"%3A'*+D(+")'*"'2*"'/(",-D1+,"""""""""""""""""""5&+D>1%&,3-(+"')"&-3-(">D(C&"D+"D(?"D1&'")'*"-I'('3%I""""""""""""""""""""""""""""+,-"&+D+-"n"*-B%'(D1"1-E-1O">-(-)%+&"%&"D("2*B-(+"(-I-&&%+@O""""""""""""""""J-E-1'A3-(+"')"I*'&&c>*--?&
L]"
+,*'2B,"J.#"3D*C-*&O"J-E-1'A")--?"D(?")--?"b2D1%+@"&+D(?D*?&")'*"ID++1-"I'(&%&+-(+"/%+,"+,-">*--?"D(?"@%-1?O"
_''?G"#B*%I21+2*-"D(?"A*'I-&&%(B!
A,,;(,!J!^#,#*+! &:$#*+!)(_;#)(0!#66(0#-$(.3"7A"B*D?D+%'("')"I*'A"*-&%?2-&"D(?"'+,-*">%'?-B*D?D>1-"/D&+-&")'*"2&-"D&"
ID++1-")--?O"J-E-1'A3-(+"')",%B,c@%-1?")'??-*"&--?&O"H*-D+-"D/D*-(-&&"D>'2+"E-+-*%(D*@"?*2B&"D(?"D(+%>%'+%I&O"H*-D+-"D/D*-(-&&"D>'2+",@B%-(-"&+D(?D*?&")'*",'2&%(B"ID++1-O"
4''*"b2D1%+@"')"3%1C""""""""""""""""""""""""""""""8(%+%D+-"%(('ED+%E-"A*'B*D33-*&"A*'I-&&%(B"1-D?%(B"+'"""""""""""""""""""""""""""")'*"+*D%(%(B")'*3-*&"'(",@B%-(%I",%B,-*"1'&&-&"%&"+,-"A*-&-(+"""""""""""""""""""3-+,'?&"')"I'11-I+%'("')"3%1CO"&+D+2&g"+,%&"&%+2D+%'("ID(">-"""""""""""""""""""5(&2*-"DED%1D>%1%+@"')")2(?&")'*"I,D(B-?"E-*@"*DA%?1@O"""""""""""""""""""""""""""2&DB-"')">21C")D*3"I''1-*&"n"
D1+-*(D+%E-"+-I,('1'B%-&")'*"1'(B-*"1%)-"')"*D/"3%1CO"
FDIC"')"DED%1D>%1%+@"')""""""""""""""""""""""""""_2(?"*-&-D*I,"'("2&-"')"('(c"2(%(+-**2A+-?"A'/-*"%("+,-"""""""""""""""""""I'(E-(+%'(D1"-(-*B@"&'2*I-&"3%1C"A*'?2I+%'("n"A*'I-&&%(B""""""""""""""")'*"A*%3D*@"A*'I-&&%(BO">-1+"%&"D"3Da'*",%(?*D(I-O""""""""""""""""""""X-E%-/"2&-"')"+,-"F4"&@&+-3"D&"U-I,('1'B%-&"&'12+%'(&"D*-""""""""""""""""""D"A*-&-*ED+%'("+-I,(%b2-"')"*D/"3%1CO"%33-?%D+-1@"DED%1D>1-O!
X;,D-1_=;B1!%7=D96U!X"K/"
0-?%23"D(?"1'(Bc+-*3""""""""""""""""""""""4*'B*D33-*")'*"2A"B*D?D+%'("')"E%&%'(")'*"ID++1-"3D(DB-3-(+""""""""""""b2D1%+@"')"&-3-("D(?"DED%1D>%1%+@"%&"+'"A*-)-*D>1@"+*-D+"+,-3"""""""""""""""""')"A*'E-(">211&O"/%+,"ID*-"D&"+,-@"D*-"+,-""""""""""""""""""""J-&%B(">*--?%(B"A'1%I%-&"DII'*?%(B")'2(?D+%'(&"')"'2*"/-D1+,O"""""""""""""""""+'"DB*'cI1%3D+%I"d'(-&O"
J-E-1'A3-(+"')"+*D(&B-(%I"D(%3D1&O!
A,,;(,!J!^#,#*+!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!&:$#*+!)(_;#)(0!#66(0#-$(.3"
5fD3%(-"2&-"')"X23-(">DI+-*%D")'*"%3A*'E-?")--?"D?&'*A+%'("
FDIC"')"A*'A-*"+*-D+3-(+""""""""""""""""""""""J%&&-3%(D+-"2&-"')"+-I,('1'B@")'*"') -))12-(+"1-D?%(B"+'""""""""""""""""""""""""""""A*'I-&&%(B"-))12-(+"%(+'">@cA*'?2I+&
LL"
-(E%*'(3-(+D1",DdD*?&"(--?&""""""""""""""")'*"&3D11c&ID1-"%(?2&+*%-&O"2*B-(+"D++-(+%'("D(?"%("+,-"3-?%23"+-*3"/-"ID("-(E%&%'("+,-3"+'">-"A'112+%'(c)*--O!
3@9B=_=;B1!%7=D96U!\4W"I3!`!QLNLI%EKL3!
`#9%!.(1(.!*'!<*,$8%-)1(,$!!!!!!!!!!!!!!!!!
LV"
)DI%1%+%-&O"H'(+%(2-"A*'3'+%(B"+,-"A*'I-&&%(B"')"_*2%+&"D(?"E-B-+D>1-&"D+")D*3"1-E-1"+'"X-?2I-"/D&+DB-">@"-?2ID+%(B"+,-"_D*3-*&"D(?"A*'E%?%(B"?-&%*-?"_%(D(I%D1"D&&%&+D(I-O"
F'(B"k+-*3"#I+%'(^"_X78Uj$565U#9F5<".'(cDED%1D>%1%+@"')"B''?"""""""""""""""""""I'(+%(2-"+'"A*'E%?-")%(D(I%D1"&2AA'*+"o2D1%+@"*D/"3D+-*%D1")'*"""""""""""""""""""""+'"XjJ"%(&+%+2+-&"+'"%(%+%D+-"4*'I-&&%(B"/%11">-I'3-"D("""""""""""""""""A*'B*D33-*&")'*"8&&2-"%("+,-"3-?%23!
"33WL`Q"3"R#!!! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !%?I"R#!4LaW"4L$!
"XXL$"%ILK2"D(?"1'(B"+-*3"D&"+,-")''?" ?-E-1'A3-(+""')"(-/"ED*%-+%-&"A*'I-&&%(B"%(?2&+*@"B*'/&" ')")*2%+&"D(?"E-B-+D>1-&"/%+,"D(?"I'(&23-*&">-I'3-" I,D*DI+-*%&+%I"&2%+-?")'*"3'*-"?%&I*%3%(D+'*@"O8+"%&" A*'I-&&%(B"D(?"A*'3'+%(B"A'&&%>1-"+'"3--+"+,-@Y*-" +,-&-"ED*%-+%-&"D3'(B")D*3-*&"*-b2%*-3-(+" >@"-(+-*%(B"%(+'">2@c>DIC"
DB*--3-(+&G"-+IO"8+"%&"A'&&%>1-"+'"?-E-1'A",%B,"b2D1%+@"8(?%D("ED*%-+%-&"%)"/-")'I2&"'("'2*"-))'*+&"%(&+-D?"')"*-1@%(B"'(")'*-%B("I'3AD(%-&O"
<'2*I- "̂U8_#H"E%&%'("*-A'*+&"'("#B*'c_''?"A*'I-&&%(BO"
U,-" D2+,'*&" ,DE-" ')+-(" ?'(-" A*-&-(+D+%'(&" ')" +,-&-" %?-D&G" -&A-I%D11@" +,-" I'*-"
+-I,('1'B%-&"/,%I," D*-" *-b2%*-?" +'" *-D1%d-" +,-" E%&%'(O" U,-@" D*-" B%E-(" %(" )%B2*-" TO!GTO="
D(?TOPO"0'*-"+,D("+,-"A*-I%&-"(23>-*&G"'(-"&,'21?"1''C"D+"+,-"A'&&%>1-"B*'/+,"-fA*-&&-?"
>@"+,-"(23>-*&O"
U,-")%B2*-&"'("+,-"1-)+",D(?"&%?-"B%E-"D"*'2B,"%?-D"')"+,-"E'123-"')">2&%(-&&"%("
+,-" &-I+'*" %(" *2A--" +-*3&G" )'*" +,-" @-D*!\\Qg" -&+%3D+-&" ')" I2**-(+" 1'&&-&g" D&&'I%D+-?"
%(?2&+*%-&"M%("-(B%(--*%(BG"ADICDB%(BG"-+ION"U,-"*%B,+",D(?"&%?-"%&"+,-"E%&%'(")'*"=K=K")'*"
+,-&-">2&%(-&&-&G"/%+,"1'&&-&G"-+IO"&,'/("D+"A*-&-(+c"
?D@"A*%I-"1-E-1&O"U,-"3%??1-"A'*+%'("1%&+&"&'3-"C-@"I'*-"+-I,('1'B%-&"*-b2%*-?"+'"*-D1%d-"
+,-"E%&%'(O"U,-&-"D*-"B%E-("%("+,-"I-(+*D1">'f"D(?"I-(+*D1"+'">2%1?%(B"+,-"DB*'cA*'I-&&%(B"
%(?2&+*@"%("8(?%DO
L\"
<'3-"')" +,-"*-b2%*-3-(+&"D*-"E-*@"&%3A1-^"-?2ID+%(B"'2*"4-'A1-" %(",@B%-(%I"
A*DI+%I-&g" &,'/%(B" +,-3 &2II-&&-&" DI,%-E-?" -1&-/,-*-G" +,*'2B," >-++-*" A*DI+%I-&"
+,D+" ,DE-" >'*(-" )*2%+G" )'*" -fD3A1-G" &'" +,D+" +,-@" ID(" D?'A+" +,-&-" +''O" :2*"
+-1-I'332(%ID+%'(&" D(?" &ADI-" +-I,('1'B%-&" D*-" /-11" -&+D>1%&,-?O" F-+" +,-&-" >-"
?-A1'@-?"%("D"3Da'*"-))'*+&O"8(I%?-(+D11@G"%+"I'21?">-I'3-"D"3Da'*"&-*E%I-"%(?2&+*@"
D(?" ,-1A" >''&+" *2*D1" -I'('3%-&O" U,-" '+,-*" +-I,('1'B%-&" D*-" *-1D+%E-1@" &%3A1-^"
<+D(?D*?%d-?"I,%11-?"I'(+D%(-*&G"'*"I'(+D%(-*&"/%+,"I'(+*'11-?
VK"
'*"3'?%)%-?"D+3'&A,-*-"+'",-1A"A*-&-*E-"A*'?2I+&G">-++-*"ADICDB%(B"D(?"&'"'(O"
U,-&-")%(?%(B"/-*-"A*-&-(+-?"+'"D",%B,cA'/-*-?"&I%-(+%)%I">'?@O"8+"/D&"-fA1D%(-?"
+'" +,-3" +,D+" /,%1-" +,-@" 3D@" ('+" DAA-D*" A*'&A-*%+@" +'" 3%11%'(&O" U,-" &I%-(+%&+&" /-*-"
+'2I,-?"D(?"D))%*3-?"+,D+"+,-@"/'21?",DE-"+'"+DC-"D("%(+-*-&+ %( &2I,"3D++-*&"D&"/-11O"
8+"%&"?%))%I21+"+'"IDA+2*-"+,%&"E%&%'("D(?"DI+%'("%("D")-/"/'*?& '*"'(-"'*"+/'"ID+I,@"
&1'BD(&O"R'/-E-*G +'")'I2&"'("I*2I%D1" %&&2-&G"/-",DE-"D++-3A+-?"+'"1%&+"D")-/" %3A'*+D(+"
%+-3&">-1'/^
•" 8(?%D"+'"D%3"+'">-"D"3Da'*"A1D@-*"%("+,-"/'*1?"%("+,-"DB*%I21+2*D1 &-I+'*"D(?"D"
1-D?%(B"-fA'*+-*"B*D%(&"D(?"'+,-*"DB*%IcA*'?2I+&O
•" 5D&+-*&"8(?%D"+'">-I'3-"D"3Da'*"A*'?2I-*"')"/,-D+O
•" X%I-cA*'?2I%(B"D*-D& +'"2&-",@>*%?"&--?&"'( D"1D*B-"&ID1-O
•" H-(+*D1"8(?%D"+'">-"3D?-"D"I-(+-*"')"E-B-+D>1-&G")*2%+&G"A21&-&"D(?"I'D*&-"B*D%(&O
•" 0'*-"-3A,D&%&"'("+2>-*'2&"I*'A&O
•" WD+-*"D&"D"(D+%'(D1"*-&'2*I-c/D+-*"3D(DB-3-(+"D&"+,-"C-@"+'"DB*%I21+2*D1"
A*'&A-*%+@O
•" H'*-"A'&+c,D*E-&+"+-I,('1'B%-&"+'">-"3D&+-*-?"D(?"?%&&-3%(D+-?O"
<+-A&" +'" -?2ID+-" )D*3-*&" D>'2+" /,D+" %&" ,DAA-(%(B" -1&-/,-*-G" %)" (--?" >-" >@" A*'E%?%(B"
+,-3"+,-"'AA'*+2(%+@"+'"+*DE-1G"D(?"2&-"')"&ADI-"+-I,('1'B%-&"+'")DI%1%+D+-"%(+-*DI+%'("D(?"
-(I'2*DB-")D*3-*&"+'"D&C"b2-&+%'(&"D(?"&,D*-"-fA-*%-(I-&O
V!"
R'/"?'-&"'(-"-fA*-&&"+,-"E%&%'(")'*"DB*%I21+2*D1"A*'&A-*%+@G"?-&I*%>-"D"E%&%'("/,%I,"
2&-&"D11" +,-"D?ED(+DB-&"')"DB*'cI1%3D+-"D(?" (D+2*D1" *-&'2*I-&G"/%+," +,-"2&-"')" *%B,+"D(?"
I'(+%(2'2&"?'&-&"')"3'?-*("+-I,('1'B@e"U,-"E%&%'("(D+2*D11@"%(I12?-&"+,-")DI+"+,D+")'*"D11"
8(?%D(&"+,-"DED%1D>%1%+@"')")''?"D(?"/'**@%(B"D>'2+"/,-*-"+,-"(-f+"3-D1" %&"I'3%(B")*'3"
/%11" ('" 1'(B-*" >-" D" A*%3-" I'(I-*(O" U,-@" /%11" ,DE-" )''?" %(" A1-(+@" I'3AD*-?" +'" +,-%*"
&%+2D+%'("+'?D@O"
#"E%&%'(" )'*"+'+D1"A*'?2I+%'("'*"A-*"IDA%+D"I'(&23A+%'("'*"-fA'*+")%B2*-"D1'(-"?'-&"
('+" I'3A*%&-" +,-" +'+D1%+@" ')"/,D+"/-" -(E%&DB-O"U,-" DI+%'(" +DC-(" +'" *-D1%d-" %+" %&" a2&+" D&"
%3A'*+D(+O" #I,%-E%(B" +,-&-" A*'a-I+%'(&" %&" ('+" D+" D11" %3A'&&%>1-O" 8(E-&+3-(+&" D*-" ('+"
?%))%I21+O" 92+" +,-*-" %&" D" 1'+" ')" /'*C" ,D*?G" &@(I,*'(%dD+%'(" ')" A'1%I%-&G" D?3%(%&+*D+%E-"
&2AA'*+"D(?"DI+2D1" )%-1?/'*C"/,%I," %(I12?-&" +DC%(B"A-'A1-"D(?" )D*3-*&" %(+'"I'()%?-(I-"
D(?"*-DI,%(B"+,-">-(-)%+&"')"+-I,('1'B%-&"+'"+,-3"+,D+"%&"*-b2%*-?O"
8" ,DE-" ')+-(" >--(" b2-&+%'(-?" >@" A-'A1-" )*'3" ?%E-*&-" /D1C&" ')" 1%)-" D&" +'" +,-" DI+2D1"
*-D1%dD+%'(" ')" +,-" E%&%'(O" <I%-(+%&+&G" +-I,('1'B%&+&G" 3D(DB-*&" '*" D?3%(%&+*D+'*&" D&CG" h8("
@'2*" E%&%'(" )'*" DB*%I21+2*-G" ,'/" ?'" /-" A1DI-" &A-I%)%I" +D*B-+&e" HD(" /-" '*BD(%d-" D"
A*'B*D33-*"1%C-"+,-"3%&&%1-"A*'B*D33-*eY"&I,''1"D(?"I'11-B-"&+2?-(+&"D&CG"h&%*G"ID("/-"
1D2(I," 8(?%D" %(+'" DB*%I21+2*D1" A*'&A-*%+@" D&" @'2" ,DE-" ?'(-" )'*" (D+%'(D1" &-I2*%+@" /%+,"
#B%(BeY"
8"-fA1D%("+,-"%?-D&"%("?%))-*-(+"/D@&O"U,-&-"D*-"D??*-&&-?"%("D"1D+-*"I,DA+-*O"6-(-*D11@G"
+,-" D(&/-*" %&" '(" +,-&-" 1%(-&^" h#" E%&%'(" %&" ('+" D"A*'a-I+" *-A'*+"'*" D" A1D(" +D*B-+O" 8+" %&" D("
D*+%I21D+%'("')"+,-"?-&%*-?"-(?"*-&21+&"%(">*'D?-*"+-*3&O"_'*"-fD3A1-G"D"E%&%'(")'*"8(?%D"%("
+,-"!\VK&"/D&"+'",DE-"%(?-A-(?-(+"&+*-(B+,&"%("?-&%B(%(BG"?-E-1'A%(BG"3D(2)DI+2*%(B"D(?"
1D2(I,%(B"ED*%'2&"3%&&%1-&">-&+"&2%+-?"+'"'2*"&+*D+-B%I"*-b2%*-3-(+&O"W%+,"+,-"&2II-&&)21"
1D2(I,"')"<F$cPG"/%+,"+,-"&+*-(B+,&"')"JXJ:"D(?"'+,-*"A'+-(+%D1"&+*-(B+,&G"&2I,"D"E%&%'("
/D&"D" *-D1%dD>1-"'(-G" +,'2B,"?%))%I21+"/,-(" 1''C-?"D+" )*'3" +,-"A-*&A-I+%E-"')" +,-" hVK&O"
92+"+'"?-)%(-"%(?%E%?2D1"A*'a-I+G"+,-%*"%(+-*1%(C"DB-&"D(?"+,-"+-D3&"*-b2%*-?"+'"%3A1-3-(+"
&2I,"A*'a-I+&" &2II-&&)211@" +''C"I'(&%?-*D>1-"/'*C" )*'3"3D(@"?-?%ID+-?"A-*&'(&O"0D(@"
@-D*&"/-*-"&A-(+"%(")'I2&%(B"'("&A-I%)%I"/'*C"ADICDB-&O"
hUD&C&"%(E'1E-?"%("-f-I2+%(B"+,-"E%&%'(")'*"DB*%I21+2*D1"D(?"DB*'c)''?"A*'I-&&%(B"/%11"
>-" -b2D11@" D(?" %(" )DI+" 3'*-" I'3A1-fO" U,-" E%&%'("/%11" ,DE-" +'" >-" ADICDB-?" %(" D" 1D*B-
V="
(23>-*"')"E%D>1-G")'I2&-?"A*'a-I+&O"0D(@"')"+,-3"/%11">-"-f-I2+-?">@"A*%ED+-"%(?%E%?2D1&"
'*"B*'2A&"'2+"')"+,-%*"I'(E%I+%'("D(?"*%&C&">@"
+,-3O" #" " &3D11" B*'2A" ')" A-'A1-" ID(" >-" %(" +'2I,"/%+," D11" ')" +,-3" +'"3DC-" D(" 'E-*D11"
D&&-&&3-(+"')"+,-"?%*-I+%'("%("/,%I,"/-"D*-"B'%(BO"8)"+,-*-"D*-"A*'>1-3&"?2-"+'"A'1%I@"'*"
A-*,DA&" D?E-*&-" -f+-*(D1" -(E%*'(3-(+" I'(?%+%'(&" M?*'2B,+" '*" A-&+" '*" ,D%1&+'*3&" '*" D"
&123A" %(" +,-"-fA'*+"3D*C-+G" )'*" +,-" )D*3-*&"D(?" -(+*-A*-(-2*&G" &'" +,D+" +,-@"?'"('+" 1'&-"
+,-%*"/%11"+'"A2*&2-"+,-",D*?-*"+D&C&"D,-D?O"
hU,D+"%&",'/"D"(D+%'("ID("*-D1%d-"%+&"E%&%'(O"8)"/-"+%-"'2*&-1E-&"%(+'"C('+&"'E-*"-E-*@?D@"
A*'>1-3&"D(?"A*'a-I+"+,D+"D++%+2?-"'E-*"P]Q"?D@&G"LPK"?D@&"'*"!KGKKK"?D@&G"+,D+"ID(('+">-"
>%BB-*" +,%(B&G">2+" a2&+" +DC-"ID*-"+,D+" %+" %&"('+" %3A'&&%>1-O"#+" +,-"+%3-"')"D*+%I21D+%(B"+,-"
E%&%'(G",'/-E-*G"%+"&,'21?"DAA-D*"(-D*1@"%3A'&&%>1-sY"
&'"/-" ,DE-" >-)'*-" 2&" D"/,'1-" *D(B-" ')" &%3A1-" +-I,('1'B%-&G" D" 1D*B-" &-+" ')" (--?-?"
'*BD(%dD+%'(D1" -))'*+&" D(?" %()'*3D+%'(" -fI,D(B-" A*'B*D33-*&G" D(?" D>'E-" D11" D" B'D1" +'"
D++D%(")''?"&-I2*%+@")'*"'2*"I'2(+*@"%("D"A-*3D(-(+"D(?"&2&+D%(D>1-"3D((-*O"U,-&-"-))'*+&"
/%11"2&,-*"%("B*-D+"A*'&A-*%+@"+'"D"1D*B-"(23>-*"')""A-'A1-"%("*2*D1"D*-D&"D(?"&3D11"+'/(&G"
+,*'2B," -3A1'@3-(+" D(?"/-D1+," I*-D+%'(O"#1&'" )'*" &A--?@" -I'('3%I" B*'/+,G" +,-&-" D*-"
-fI-11-(+" DE-(2-&" D&" +,-" *-+2*(" '(" +,-" %(E-&+-?" IDA%+D1" %&" 32I," ,%B,-*" D(?" ID(" >-"
DI,%-E-?"%("D"&,'*+"A-*%'?O"8+"%&"('+"1%C-"I,D&%(B"+,-"3''(g"+,-"3''("&,'21?"I'3-"+'"2&s"
U,-&-" D*-" &'3-" %&&2-&" *-1D+-?" +'" I'((-I+%(B" ,2(?*-?&" ')" +,'2&D(?&" ')" +,-&-" (-/"
DB*%I21+2*D1" I-(+-*&" +'" +,-" 3D*C-+" A1DI-g" +,%&" ID(" >-" DI,%-E-?" >@" *2*D1" I'((-I+%E%+@"
+,*'2B,"*'D?&"D(?"+-1-A,'(-&O"W-"D??*-&&"+,-&-"%&&2-&"%("D"1D+-*"I,DA+-*O
VP!
?b%)IL4!^!
X0=;BD0.>!06,!=@;!\-=-B;"
W-"/%11"?%B"3D(@"3%(-&G"
#(?"+DC-"'2+"B'1?"D(?"'+,-*"+,%(B&G"
#(?"B'"-%B,+"?%*-I+%'(&"+'"&-11"+,-&-G"
#(?">*%(B",'3-"3D(@"+,%(B&O"
c<2>*D,3D(@D"9,D*D+,%"
#B*%I21+2*D1" A*'?2I+&" I'3-" )*'3" >%'1'B%ID1" *-&'2*I-O" :+,-*" M('(c1%E%(BN" (D+2*D1"
*-&'2*I-"B%E-"2&"-(-*B@"M-OBO"A-+*'1-23"D(?"(D+2*D1"BD&NG"I,-3%ID1&")'*"?D%1@"2&-"M-OBO"
&D1+NG" D(?" ED*%'2&" 3-+D11%I" A*'?2I+&" M-OBO" &+--1G" I'AA-*NO" 8)" /-" /-*-" +'" AD2&-" )'*" D"
3'3-(+"+'"+,%(B"D>'2+"+,-"B*'/+,"')",23D("I%E%1%dD+%'(G"/-"/'21?")%(?"+,D+"+,-"ADI-"
')"&'I%D1"D(?"-I'('3%I"B*'/+,",D&">--("I1'&-1@"1%(C-?"+'"+,-"A*')%I%-(I@"/%+,"/,%I,"
A-'A1-",DE-">--("D>1-"+'"2&-"D(?"&,DA-"3D+-*%D1&O"U'?D@"+,%&"A*')%I%-(I@",D&">-I'3-"
+,-">-?*'IC"')"D"I'2(+*@Y&"?-E-1'A3-(+O"F%B,+/-%B,+",%B,cA-*)'*3D(I-"3D+-*%D1&"D(?"
D11'@&",DE-",-1A-?"2&"%(">2%1?%(B"D%*I*D)+G"&D+-11%+-G"1D2(I,"E-,%I1-&"D(?"3%&&%1-&O":2*"
,'2&-&" D*-" )211" ')" 3'?-*(" 3D+-*%D1&^" &+D%(1-&&" &+--1" E-&&-1&G" &,DE%(B" >1D?-&" /%+,"
&A-I%D1"I'D+%(B&G"&A-I%D1"('(c&+%IC%(B"D(?"&1'/c,-D+%(B")*@%(B"AD(&g"A1D&+%I"D(?")%>*-c"
B1D&&" A*'?2I+&O"02&%ID1" %(&+*23-(+&" D(?" D2?%'E%&2D1" -b2%A3-(+G" %(I12?-" +-1-E%&%'(G"
?-A-(?"I*2I%D11@"'("I-*+D%("D?ED(I-?"3D+-*%D1&O"
W,D+" ,DAA-(&" /,-(" &'3->'?@" >*-DC&" D" >'(-e" 0D(@" %3A1D(+&" +'" *-A1DI-" +,-"
>*'C-(">%(-&"D*-"3D?-"')"3'?-*("3D+-*%D1&" 1%C-"+%+D(%23g"+,-"ID+,-+-*&"2&-?"+'"&DE-"
AD+%-(+&"/%+,""">1'IC-?">1''?"E-&&-1&"D*-"3D?-""')"&A-I%D1"3-+D11%I"""/%*-&"I'D+-?""/%+,"
A1D&+%I"3D+-*%D1O"0D(@">%'3D+-*%D1&"D*-"D1&'"('/"-3-*B%(BO!
%<D6<!06,!,D>0+.;,!7@D.,B;6"
U,-&-"%112&+*D+%'(&"B%E-"@'2"%?-D"')",'/"-f+-(&%E-1@"D(?"%(+-(&%E-1@"D?ED(I-?"
3D+-*%D1&" ,DE-"A-(-+*D+-?"-E-*@" &A,-*-"')"3'?-*(" 1%)-O"U,-" &2>&-b2-(+"I,DA+-*"/%11"
&,'/" " /,-*-" " /-" &+D(?" D&" D" I'2(+*@" " /%+," *-BD*?" +'" 3D+-*%D1&G" '2*" &+*-(B+,&G" '2*"
/-DC(-&&-&"D(?"+,-"E%&%'(")'*"+,-")2+2*-O"
9-)'*-"?'%(B" &'" 1-+"2&" 1''C"D+"D" )-/" +'2I,%(B" %(I%?-(+&g"D+" 1-D&+" )'*" +,-" " " D2+,'*&"
+,-@""D*-""%112&+*D+%E-""""')"""""+,-"",23D("?%3-(&%'(&""')"3'?-*("D?ED(I-?"3D+-*%D1&O
VT"
8""b2'+-")*'3"3@""D??*-&&""D+""D""+-(c?D@""/'*C&,'A"""'("8(?%B-('2&"4*'?2I+%'("
D(?"J%&+*%>2+%'("')"#&&-*+%E-"J-E%I-&""H,-((D%"'("Q"<-A+-3>-*"!\\QO"
#"@-D*">DICG"D("D*+%I1-" "DAA-D*-?" %("+,-"A*-&&"'("h0%&&%1-" )'*"0-?%I%(-YO"U,-"
D*+%I1-" " ,%B,1%B,+&" " '2*" " -fA-*%3-(+" " ')" " D?DA+%(B" I-*+D%(" 3%&&%1-" +-I,('1'B%-&" %(+'"
I-*+D%("&'I%D11@"2&-)21"3-?%D1""A*'?2I+&""A*%3D*%1@"+'"">*%(B""+,-3" /%+,%("+,-""*-DI,"
')"""+,-""I'33'(""3D(O""X-D?%(B""%(""+,-""D*+%I1-"D>'2+""D("21+*Dc1%B,+"")1''*""*-DI+%'("
'*+,%I'(&" " " /,%I," " '2*" &I%-(+%&+&" ?-E-1'A-?" )*'3"D" ,%B," &A-I%)%I" &+*-(B+," "3D+-*%D1"
2&-?" +'" 3DC-" " *D?%'c+*D(&AD*-(+" " ,-D+" &,%-1?" ')" " 3%&&%1-&G" +'" D&&%&+" A'1%'" D))-I+-?"
I,%1?*-(" %(" /D1C%(B" G" D(" -fc&-*E%I-3D(" ,D%1%(B" )'*3" D" 3%??1-" I1D&&" " )D3%1@" %("
;D*(D+DCD"/*'+-"+'"2&O" "R-" "-(b2%*-?" "/,-+,-*" " &'3-+,%(B" "I'21?" ">-" "?'(-" )'*",%&"
+/-1E-c@-D*c'1?" " "?D2B,+-*" "/,'""/D&" "&2))-*%(B"")*'3"*-&%?2D1" "A'1%'"')" " +,-"" 1'/-*"
1%3>"D(?""/D&" ")'*I-?""+'"?*DB",-*&-1)" ""/%+,"D"TOQCB""ID1%A-*" "3D?-""'2+""')""/''?G"
1-D+,-*"D(?""3-+D11%I"&+*%AO"":2*""&I%-(+%&+&""%(E%+-?""+,-"")D+,-*"""D(?"+,-"?D2B,+-*""+'"
'2*" 1D>'*D+'*@" " %(" R@?-*D>D?G" D(?" " +'B-+,-*" /%+," " '*+,'A-?%I" " ?'I+'*&" " D+" " +,-"
.Dd%&3Y&"""8(&+%+2+-"""')""3-?%D1""<I%-(I-&""+,-*-G""?-&%B(-?""D"""";#_:""MC(--"#(C1-"
_''+":2+,'2&-&N""/-%B,+%(B""3-*-1@""TKKB3O"U,-"I,%1?"B'+"D"(-D*""('*3D1"BD%+"/,%1-"
/D1C%(B""/%+,"+,%&"D&&-*+%E-"?-E%I-O"U,-"AD*-(+"/*'+-"+'"2&""D"I'2A1-""')""3'(+,&""1D+-*"
+,D+""+,-"?-E%I-"">*-D+,-?""D"(-/"1%)-""%("",%&""?D2B,+-*""D(?""&,-""",D?"1-D*(-?"""I@I1%(B"
D(?" " " &+D*+-?" " B'%(B" +'" " &I,''1" " '(" " ,-*" '/(O" U,-" B%*1&" *-BD%(-?" " D" " (-D*" ('*3D1"
1%)-&+@1-t""/,-(""8""&--"+,%&""-(+,2&%D&+%I"BD+,-*%(B""+'?D@"/%+,"+,-")'I2&"+'""A*'E%?-"
&2AA'*+"""+'""+,-""?%&D>1-?O""8"""*-D1%d-?""""+,D+""'2*""?*-D3"""+'""A*'E%?-"&%3%1D*"?-E%I-&"
%("&+D(?D*?"&%f-&"+'"3%11%'(&""/%11""&2*-1@"""B-+"+*D(&)'*3-?""%(+'""*-D1%+@O"
<2I,"?-E%I-&" "ID("">-""&'1?" "D+" "D" " "D))'*?D>1-" " "A*%I-G" " +,2&" "3DC%(B""-E-("D"
>2&%(-&&" " " " E-(+2*-" " " +'" " " " 3D(2)DI+2*-" " " " " +,-3" " ('+" " '(1@" &2&+D%(D>1-" >2+" D1&'"
A*')%+D>1-O" " " "W-">-1%-E-" +,D+"D"I,D%("')" &3D11c" &ID1-" " %(?2&+*%-&"ID(" "-3-*B-" %(" +,-"
%(?2&+*%D1"-&+D+-&""1'ID+-?"%("""ED*%'2&"&+D+-&O!
"6,D0Z>!10=;BD0.!B;>9-B7;>
VQ"
F-+""2&"I'3-">DIC""+'"+,-"",2*1@c>2*1@"",D*?,-D?-?"%(?2&+*%D1&""D(?">2&%(-&&"/'*1?O"8&"
%+" (-I-&&D*@" " +'" ,DE-" B''?" " 3D+-*%D1" " *-&'2*I-&ccc" >D&-" " '*-&" " D(?" " 3%(-*D1&" k+'"
>-I'3-""""D" ?-E-1'A-?""""""I'2(+*@e"#3-*%ID",D&""D"*%I,"*-&'2*I-&""">D&-"g""&'"?'-&"
X2&&%Dg" H,%(DY&" *%I," 3%(-*D1&" " " *-&'2*I-&" " " >D&-" " %&" " ,-1A%(B" " " " ,-*" " " %(" " &A--?@"
-I'('3%I""B*'/+,g" " "#2&+*D1%D" " +''" " %&" "/-11" "'))" " %(" " " +,%&" "*-BD*?O" " "0'&+"#)*%ID" %&"
-(?'/-?" /%+," "&'3-""')" "+,-"">-&+""3%(-*D1&" "'*-&g""3D(@""#)*%ID"I'2(+*%-&" ""/-*-"
I'1'(%d-?" " " >-ID2&-" " " ')" " " " +,%&O" ".'/G" -E-(" " " D)+-*" %(?-A-(?-(I-G" D" " " (23>-*" " ')"
?-E-1'A-?"" "I'2(+*%-&" " " "A*'AA-?"" " "2A"*-B%3-&" " " %(" "#)*%ID(" "I'2(+*%-&" "/,%I,""ID("
D&&2*-"" +,-3" "')" " +,-&-"3%(-*D1"*-&'2*I-&" ">2+" "/,%I,""?'"('+" ">'+,-*" " "D>'2+" " 1'ID1"
B*'/+,O"U,-*-)'*-""32I,""')"""#)*%ID"%&"A''*"G"?-&A%+-",DE%(B"""+,-"*%I,-&+""')"3%(-*D1&"
?-A'&%+&O""[DAD(G""'(""+,-"I'(+*D*@G"",D&""""A*DI+%ID11@"""('"3%(-*D1"""*-&'2*I-""">D&-" ')"
&%B(%)%ID(I-O"""[DAD("""-fA'*+&"""""&+--1"G>2%1?&"&,%A&G"D(?"%&""DE'/-?1@"""+,-"-I'('3%I"
D(?""""+-I,('1'B%ID1" 1-D?-*""')""+,%&"I-(+2*@O"U,-"""[DAD(-&-"""3D&+-*-?""+-I,('1'B%-&"
+'"2&-"""+,-%*""3%(-*D1"""D(?""""3D+-*%D1&")'*""-I'('3%I""D(?"""A*DI+%ID1""""BD%(&O""R%B,c"
I'&+" " A*'?2I+&" " )1'/" " +'" +,-" I'2(+*%-&" "/,%I," &2AA1%-?" +,-"3%(-*D1&" D&" &,%A&G" ID*&" G"
)%(%&,-?" &+--1&" A*'?2I+&" D(?" " %(" &-E-*D1" '+,-*" " " " )'*3&O" U,D+" %&" ,'/" +,-" -I'('3%I"
&+*-(B+," " ')" " (D+%'(&" /,%I," 3D&+-*" +-I,('1'B%-&" %&" >2%1+" 2AO" U,-*-" " D*-" D1&'" '+,-*"
%(+-*-&+%(B" "?%3-(&%'(&" +'"+,-&-&" +-I,('1'B%ID1" " " " " &+*-(B+," "')" " "?-*%E%(B" " " "A*'?2I+"
'2+""')""'*-&O""8("&'3-"ID&-"G"?-E-1'A-?""D(?"""%(?2&+*%D1%d-?"""(D+%'(""?-(@""A*'?2I+&"
?-*%E-?""""")'*3"+,-"'*&"+'"+,-"E-*@"I'2(+*%-&"")*'3"/,%I,""+,-@"B'+"+,-""'*-&""%(""+,-"
)%*&+"A1DI-"G"'(""+,-"B*'2(?&"""+,D+""+,-&-""A*'?2I+&"D*-"')"&+*D+-B%I"2&-O""8""*-ID11"""D("
-fA-*%-(I-" ?2*%(B" " +,-" &-E-(+%-&" /,-(" 8" /D&" ?-E-1'A%(B" " <F$cPG" 8(?%D" h&" " )%*&+"
&D+-11%+-"" 1D2(I,"E-,%I1-O"_'*"3DC%(B""B@*'&I'A-&"*-b2%*-?")'*"+,-"B2%?D(I-"&@&+-3&G"
+,-"A*'a-I+""*-b2%*-?"""D")-/"">-*@11%23""A*'?2I+&O""#("#3-*%ID("""""I'3AD(@"""3DC%(B"
+,-3"?-I1%(-?" " +'" &2AA1@" " +,-&-O" 8+"/D&" " )'2(?" +,D+" +,D+"D" [DAD(-&-" "I'3AD(@" "/D&"
3DC%(B"&'3-"AD*+&"')"+,-"A*'?2I+"D(?"+,-*-)'*-""+,-"A*'a-I+"DAA*'DI,-?"+,-3O" "U,D+"
I'3AD(@""D1&'"?-I1%(-?O"8"('/"/D(+-?"+'")%(?"'2+"3'*-"D>'2+">-*@11%23"O"8+"+2*(-?"'2+"
+,D+"8(?%D",D&"'(-"')"+,-"*%I,-&+"""&+'IC&"')">-*@11%23"'*-&G"/,%I,""%+"D1&'"&2AA1%-&""+'"
?-E-1'A-?" I'2(+*%-&O"U,-@" ,DE-" +,-" +-I,('1'B%-&" +'" I'(E-*+" +,%&" '*-" %(+'"3-+D1" D(?"
D1&'"""+'"&,DA-"%+"DII'*?%(B"+'"+,-"(--?&"')"+,-"A*'a-I+"O">-*@11%23"%&"D"+'f%I"3-+D1"D(?"
*-b2%*-&"D"1'+"')"ID*-"" %(",D(?1%(BG">2+""D&"D"3-+D1" %+",D&"3D(@"/'(?-*)21""A*'A-*+%-&
V]"
/,%I,"3DC-&"%+"2(%b2-")'*"B@*'&I'A-&"'*"%3DB%(B""ID3-*D&"'*"'+,-*"DAA1%ID+%'("OU,-"
>-*@11%23cI'AA-*"I'3>%(D+%'("I*-D+-&"A*'?2I+&",DE%(B"<-E-*D1"2(%b2-"" "DAA1%ID+%'(&"
%("-1-I+*'(%I&"O"
U,-"?-(%D1"')">-*@11%23"A*'?2I+&"/D&"'(-"')"+,-"-D*1@""1-&&'(&")'*"3-"^""%)""@'2"?'(Y+"
,DE-"+,-"+-I,('1'B@G"@'2*"(D+2*D1"*-&'2*I-"%&"')"('"ED12-"+'"@'2"O".'/G"')"I'2*&-"G"8(?%D"
?'-&" ('+" ,DE-" +'" >-B" '+,-*&" )'*" >-*@11%23" A*'?2I+&O" U,-" +-I,('1'B%&+&" ')" 8<X:" " D(?"
9,D>,D""#+'3%I"X-&-D*I,"H-(+*-"M9#XHN"",DE-"&-+"2A"D">-*@11%23"3DI,%(%(B"")DI%1%+@""D+"
$D&,%"023>D%O"8(?%D(""'*-"" %&" )%(?%(B" %+&"/D@"+'"+,-"8(?%D("&ADI-" G"D+'3%I"-(-*B@""D(?"
%(?2&+*%D1""4*'a-I+&"s""U,-""A*'a-I+"/D&"BD%(-?">@"J*OHO$O<2(?D*D3G""D("-3%(-(+"3D+-*%D1"
&I%-(+%&+G"D(?"/D&""-(I'2*DB-?"">@""J*OXDaD""XD3D((DG""+,-"+,-(""?%*-I+'*"')"9#XH"O"
_'*+2(D+-1@" G" " 8(?%D" ,D&"D" (23>-*"')"-fI-11-(+"3%(-*D1" *-&'2*I-&O" 8+",D&"E-*@"B''?"
%*'("?-A'&%+&g" "3D(BD(-&-"'*-&G"-+I" O" "#&" )'*"+,-"/'(?-*" "3'?-*("3-+D1" +%+D(%23"G"8(?%D"
+'A&"+,-" 1%&+"')"I'2(+*%-&" ,DE%(B" +,%&" *-&'2*I-O"W-",DE-"'(-"')" +,-" >-&+"b2D1%+@" >D2f%+-"
'*-&" %(" +,-"/'*1?O"W-"D1&'",DE-"&-E-*D1" *D*-" " -D*+," &+*D+-B%I" " " " " D(?",%B,"ED12-"3%(-*D1"
*-&'2*I-&g""/-",DE-""*%I,">-*@1"'*-&""+'"&2AA1@">-*@11%23"D(?""D>2(?D(+""*-&'2*I-&M"D>'2+"
+,*--"3%11%'("+'(-&N')"3'('d%+-G"D"&'2*I-""")'*"3D(@"*D*-"3-+D1"O"
R'/""D*-"/-"2&%(B"+,-3e"02I,">-++-*"+,D("" %(?-A-(?-(I-g""[D3&,@?".OUD+D",D?"
+'")DI-"3D(@"?%))%I21+%-&">-)'*-"&-++%(B"2A"D"A1D(+" %("[D3&,-?A2*""D>'2+"D",2(?*-?"@-D*&"
DB'G">-ID2&-"">-ID2&-""+,'&-"/,'"I'1'(%d-?"2&"/D(+-?"2&"+'""*-3D%("D&"3-*-1@"-fA'*+-*&"
')"'*-O"W-",DE-" I'3-"D"1'(B"/D@O"W-"3DC-"'2*"D123%(%23"D(?"D123%(%23"""D11'@&g"/-"
3DC-" '2*" &+--1icc>2+" ('+" D11" ED*%-+%-&G" ('+" &+%11" D" b2D(+%+@" I'33-(+" &2>&+*D+-" /%+," '2*"
A'+-(+%D1""D(?"""IDAD>%1%+%-&"O""8+"%&"&'"/%+,"&-E-*D1""'+,-*""'*-&G""3%(-*D1&"D(?"3D+-*%D1&O"
W,-("8(?%D(">2%1+"+,-"X'2*C-1D"&+--1"A1D(+"""/%+,"6-*3D(""+-I,('1'B@"G%+&"b2D1%+@"
D(?"I'&+"I'3A-+%+%E-(-&&""D+"+,D+"+%3-G""%O-O"%("+,-"!\]K&G"/D&"'(-"')"+,-">-&+"%("+,-"/'*1?"O"
?%?"/-">2%1?" "2A'("+,D+"&+*-(B+," c"'("+,-"&+*-(B+," "')"3D(@"+-I,('1'B%&+&G" " +-I,(%I%D(&"
D(?"D?3%(%&+*D+%E-"A-*&'((-1"+,D+"3D?-""%+",DAA-(e""U,-"D(&/-*"G2()'*+2(D+-1@G"%&"('O""W-"
D11'/-?"+,%(B&" "+'"&1%AO"W-"/-*-"*2((%(B"">-+/--("#3-*%ID""D(?"+,-"+,D("<'E%-+"7(%'("
M('/""""""X2&&%D"N"+'"">2%1?""9'CD*D"O"""5E-(""D)+-*"+,D+"G" /-"/-*-"B-(-*D11@""&1DICO""U,-"
&+--1"*-&-D*I,"" ""D(?"?-E-1'A-?""I-(+-*"""" "D+"XD(I,%"/D&""('+"+*21@" " %(+-B*D+-?""/%+,"+,-"
&+--1" +-I,('1'B@" ')" +,-" I'2(+*@O" " U,-" " <+--1" J-E-1'A3-(+" " _2(?" -&+D>1%&,-?" >@" +,-"
6'E-*(3-(+" ')" " 8(?%D" A1D@-?" '(1@" D" " 1%3%+-?" " " *'1-" %(" ?-E-1'A%(B" I'*-" " I'3A-+%+%E-
VL"
&+*-(B+," " " %(" +,-" 8(?%D(" " &+--1" %(?2&+*@O" "92+"/-" " (--?" " ('+" 1D3-(+" " D>'2+" " +,-"3%&&-?"
'AA'*+2(%+%-&O" " #&"R-(*@"_'*?" ')+-("2&-?" +'" &D@G" h92*(" "3@" )DI+'*%-&" >2+" B%E-"3-" +,-"
A-'A1-" "/,'"/-*-" " +,-*-g" 8"/%11" >2%1?" "D" (-/" " >2&%(-&&OY"W-"&+%11" " " ,DE-" "D" (23>-*" "')"
A-*&'(&" %(" '2*" I'2(+*@" %(" &+--1" " #2+,'*%+@" ')" 8(?%D" F+?OG" M<#8FNG" UD+D" 8*'(" D(?" <+--1"
I'3AD(@"MU8<H:N"D(?"3D(@""'+,-*">%B"D(?"&3D11"&+--1""A1D(+""/,'"",DE-""+,-""IDAD>%1%+%-&"
O"U,-@",DE-"+,-"/%11"+'"-fI-1"D(?""+*D(&)'*3""+,-"I'2(+*@"G"B%E-("D"1'(B"+-*3"E%&%'(O"
8)"/-" ('/" "I'(&%?-*" +,-"ID&-"')" D11'@&G"/-"3D@" D&C" %)"/-" ,DE-" "3D?-" "D("
8(?%D(" " '(-" %(" *-I-(+" +%3-&" O"W-"3DC-&" 2&-" ')" &+--1" " D11'@&G" ?-&%B(-?" " " >@" +,-"7<" '*"
_*D(I-"'*"&'3-+%3-&""X2&&%DO""W,-("%+"I'3-&"+'"D11'@&G"1%C-"""+%+D(%23""D123%(%23"D11'@&G"
+-I,('1'B%-&" " " " D*-"3'&+1@" ')"52*'A-D(" '*"7<" "'*%B%(" O" " 8" " ,DE-" D&C-?" " " "3D(@" 8(?%D("
3D+-*%D1"&I%-(+%&+&""D&"+'"/,@""&2I,"D"&%+2D+%'("""-f%&+&"""/,-*-">@"('+"-E-("D"&%(B1-"D11'@&"
,D&" " >--(" "I*-D+-?"?-&A%+-" 8(?%DY&" " "3D+-*%D1&" " *-&-D*I,O" "U,-@" *-A1@" ^" %("'2*"(D+%'(" +,-"
B'1?-(" +*%D(B1-" ')" XjJ" 1D>cDID?-3%Dc%(?2&+*@" " ,D&" ('+" @-+" -3-*B-?" O" " "W-"/%11" +*21@"
D**%E-" D&" D" I'2(+*@" " "/%+," " D?ED(I-?" " "3D+-*%D1" +-I,('1'B@" "/,-("/-" I*-D+-" " -))-I+%E-"
B'1?-(")*'3"'2*" '/(""C('/1-?B-"">D&-O"
<%3%1D*1@G""%("'+,-*"3-+D11%I""D(?"3D+-*%D1&""&-I+'*&"D&"/-11"G"/-",DE-""IDAD>%1%+%-&"O"
H'(&%?-*%(B""8(?%DY&""""(D+2*D1"*-&'2*I-&""D&"/-11""D&"%(?2&+*%D1"D(?"XjJ"IDAD>%1%+%-&G"/-"
ID(" (D**'/" ?'/(" +,%*+--(" D*-D&" )'*" &A-I%D1" D++-(+%'(" O" "U,-&-" D*-" " +,-" D*-D&" %("/,%I,"
8(?%D" " ID(" "-fI-1" D(?"ID(",DE-"D" 1'(Bc+-*3" " " " D(?"&2&+D%(D>1-" " I'3A-+%+%E-" " " D?ED(+DB-"
'E-*"3D(@" " ?-ID?-&G" " -E-(" " >-@'(?" +,-" @-D*" " =K=KO" "W-" " C('/"')"3D(@" &I%-(+%&+&" " %("
8(?%D""/,'"D*-""I'33%++-?"+'""+,-"?-E-1'A3-(+""')"+,-&-"D*-D&"O"U,-@",DE-"+,-"C('/1-?B-"
>D&-" OU,-@" %+I," " )'*" " DI+%'(" O" 0D(@" ')" +,-3" 3-+" /%+," " )*2&+*D+%'(&" " ?2-" +'" +,-" &1'/"
?-I%&%'(c3DC%(B""A*'I-&&O""U''"1%++1-"/D&"B%E-("+'""+,-3"+''"1D+-"%("+,-%*""1%E-&"O""92+"3'&+"
')"+,-3"&+%11",DE-",'A-""D1%E-"%(""+,-3"O"
U,-&-" +,%*+--(" D*-D&" " D*-" ^" " &+--1G" " +%+D(%23G" D123%(%23G" *D*-" -D*+,&G" " I'3A'&%+-&G"
I-*D3%I&"G">2%1?%(B"3D+-*%D1&G"A,'+'(%I"3D+-*%D1&G"&2A-*I'(?2I+%(B""3D+-*%D1&G""A'1@3-*%I"
3D+-*%D1&" G" (2I1-D*" 3D+-*%D1G" >%'3D+-*%D1&" " D&" D" B-(-*%I" +-I,('1'B@" " " D*-D&" ')" &2*)DI-"
-(B%(--*%(BO
VV!
S&*$#1&).!!*-!!16'#$&.$!6&*1-6!.*#$67*+."
<+--1^" "/%+," D>2(?D(+" %*'(" '*-" *-&'2*I-&" M!=KKK"3%11%'(" +'(-&N" D(?" D"/-11c" -&+D>1%&,-?"
>D&-" )'*" &+--1" A*'?2I+%'(" %(" " 8(?%D" G" &+--1" %&" A'%&-?" )'*" &+*'(B" B*'/+," %(" " +,-" I'3%(B"
?-ID?-&" O"4*'?2I+%'("" " " " " " "/%11" %(I*-D&-" )*'3"+,-"I2**-(+" "!L0U"+'"P!0U">@"=KK!"D(?"
]]0U">@"=K!!O" 8(?%D"/%11" >-I'3-"D(" %3A'*+D(+" "B1'>D1"A1D@-*G" -fA'*+%(B" "D>'2+"Q"+'"V"
0U">@"=K!!O"W,%1-""&+--1"I'(+%(2-""+'",DE-"D"&+*'(B",'1?"%(""+,-"+*D?%+%'(D1""&-I+'*"&2I,"
D&" I'(&+*2I+%'(G" ,'2&%(B" D(?" B*'2(?" " +*D(&A'*+D+%'(G" &A-I%D1" &+--1&"/%11" " " >-" %(I*-D&%(B"
2&-?" %(" ,%c+-I," -(B%(--*%(B" " %(?2&+*%-&" &2I," D&" A'/-*" " B-(-*D+%'(G" " A-+*'I,-3%ID1&G"
)-*+%1%d-*&G"-+I"O"U,-">1D&+"")2*(DI-"""*'2+-")'*""%*'("A*'?2I+%'("/%11"?'3%(D+-"%("+,-")2+2*-"
D1&'O"U,-""&,D*-"')""I'(+%(2'2&1@""ID&+"&+--1"/%11"%(I*-D&-"+'"3'*-"+,D("LQ"A-*"I-(+"O""<+--1"
/%11"I'(+%(2-"+'">-"+,-"3'&+""A'A21D*G""E-*&D+%1-"D(?""?'3%(D(+"3D+-*%D1")'*"/%?-c*D(B%(B"
%(?2&+*%D1" "DAA1%ID+%'(&" O"W,%1-"8(?%D("3D@""&+%11"('+">-I'3-"D" 1-D?-*" %("+,-"/'*1?" &+--1"
3D*C-?G"%+"ID(">-I'3-"D"A'/-*)21")'*I-O"8(?%D("ID("B%E-"&+*'(B"I'3A-+%+%'(""+'"H,%(D"D(?"
<'2+," C'*-D" " %(" +,-"/'*1?"3D*C-+&"<OFO.O#I,D*@212" ')" "JXJ:" "/,'",-D?&" +,-" DI+%'("
+-D3" " +'" *-D1%d-" " +,-"E%&%'("=K=K" )'*" +,-"3D+-*%D1" &-I+'*",D&" "3D?-" " &-E-*D1" " %(+-*-&+%(B"
'>&-*ED+%'(&O""U,-*-"D*-"D>'2+"+,%*+@c)%E-"">1D&+")2*(DI-&"" %("ED*%'2&""&+--1""A1D(+&" %("'2*"
I'2(+*@"/%+,"D(""%(&+D11-?"""IDADI%+@""')""DAA*'f%3D+-1@"!V"3%11%'(""+'(-&O"U,-"3%(%c&+--1"
&-I+'*""DII'2(+")'*"+,-">D1D(I-G"/,%I,"+'B-+,-*"I'(&+%+2+-"+,-"+'+D1"%(&+D11-?"&+--1c"3DC%(B"
IDADI%+@""')"D>'2+"PK"3%11%'(""+'(-&O"J-&A%+-""+,-",%B,c"%(&+D11-?"IDADI%+@G"+,-"2+%1%dD+%'("%&"
)D%*@"1'/O"
#1+,'2B," " 'E-*D11" +,-" I'&+" ')" A*'?2I+%'(" " ')" &+--1" %(" 8(?%D" %&" 1'/G" '2*" I'&+" ')"
A*'I-&&%(B"",'+"3-+D1"+'"1%b2%?"&+--1"%&""",%B,-*O""""8(""'*?-*""+'"&2&+D%("+,%&"'E-*D11""-?B-"%("
+,-" I'&+" ')" A*'?2I+%'(" )'*" D" 1'(B" " +%3-G" D++-(+%'(" &,'21?" " >-" " AD%?" +'" " C-@" )DI+'*&"
I'(&+%+2+%(B" " +,-" I'&+" ')" %(A2+&" &2I," D&" 1D>'2*" G" " -(-*B@G" *D/"3D+-*%D1" D(?" &'" '(O" U,-"
1D>'2*"I'3A'(-(+"%("+,-"I'&+"')"A*'?2I+%'("%&""+/'""+'""+,*--"""+%3-&""1'/-*""+,D(""+,D+""')"
+,-""?-E-1'A-?"I'2(+*%-&"D(?"%&"I1'&-""+'""H,%(DO"92+"+,-""-(-*B@"I'&+&""D*-"D13'&+""?'2>1-"
+,D+" ')" " +,-" ?-E-1'A-?" " I'2(+*%-&O" :2*" *D/" 3D+-*%D1" I'&+&" D*-" D1&'" ,%B,-*G" " D1+,'2B,"
3D*B%(D11@"&'G"/,%1-"+,-"'+,-*""%(?%*-I+""I'&+""-1-3-(+&"D*-""(-D*1@"&%3%1D*O""J%&+2*>%(B1@G"
+,-"A'112+%'("1-E-1&"D*-""E-*@",%B,"" %("8(?%D("&+--1"A1D(+&""D(?"E%-/-?"" %("+,-"I'(+-f+""')"
+,-" E-*@" " 1'/" -3%&&%'(" " 1-E-1&" " DI,%-E-?" " " %(" +,-" A1D(+&" " " 'A-*D+%'(D1" B1'>D11@G" 2*B-(+"
DI+%'(""(--?&"+'">-""+DC-(",-*-"D&"/-11O
V\"
8(" &A%+-" ')" +,-" *-1D+%E-" D?ED(+DB-" " " ')" +,-" " " 1'/-*" I'&+"')" " %*'(" " '*-" D(?" " 1'/-*"
1D>'2*"I'&+&""DII*2D>1-""""+'""+,-""?'3-&+%I""&+--1""%(?2&+*@"G""+,-"1'(Bc"+-*3"&2&+D%(D>%1%+@"
')"+,-"'E-*D11""1'/""I'&+""')"4*'?2I+%'(""%&"+,*-D+-(-?""A*%3D*%1@"">@",%B,-*""I'C-"*D+-&""%("
%*'(c3DC%(B" "D(?" " ,%B,-*" " +'+D1"-(-*B@" "I'(&23A+%'(O" 8+" %&" " ,-D*+-(%(B" " +'"('+-"+,D+" +,-"
>1D&+"")2*(DI-"""'A-*D+%'(&"",DE-""A*'B*-&&%E-1@" "" " %3A*'E-?""'E-*"+,-"@-D*&"O" "R'/-E-*G"
'2*" &+--1" A1D(+&" " ,DE-" ('+" @-+" " *-DI,-?" " /'*1?" &+D(?D*?&" " %(" +,-" " *D+-&" ')" " I'C-"
I'(&23A+%'(G" D" &%(B1-" 3'&+" " %3A'*+D(+" " %(?-f" %(" %*'(c" 3DC%(B" " D(?" " &A-I%)%I" " -(-*B@"
I'(&23A+%'(" O"<'3-" "')" " +,-3" 1DB" )D*" " >-,%(?O"U,-"I2**-(+" " %(+-*(D+%'(D1" " &+D(?D*?" "')"
DI,%-E-3-(+""')"I'C-""I'(&23A+%'(""%&"D>'2+""QKKCB"A-*""+'((-""')",'+""3-+D1O":(-""8(?%D("
&+--1"A1D(+&""%&""I1'&-""%+":+,-*""D*-"%("+,-""*D(B-""')"QQKCB""+'""]KKCB""D(?"&+%11"'+,-*"D*-""%("
+,-"*D(B-"')"-E-(""LKKCB"')"I'C-s"<%3%1D*1@G"+,-"%(+-*(D+%'(D1""&+D(?D*?""')"DI,%-E-3-(+"
')" " -(-*B@" " I'(&23A+%'(" " %&" " " D>'2+" " ]B%BD" ID1'*%-&" " A-*" +'((-g" " " +,-" DE-*DB-" " 8(?%D("
DI,%-E-3-(+""%&"D>'2+""VOQB%BD"ID1'*%-&"A-*"+'((-O""""""#")-/"@-D*"DB'"%+"/D&""%("+,-" *D(B-"
')"!Kc!="B%BD"ID1'*%-&"A-*""+'((-O""8)"+,-"8(?%D(""&+--1""""""""%(?2&+*@""%&"+'">-"I'3A-+%+%E-G"%+"
,D&" +'"+DIC1-" " +,%&"-(-*B@" "I'(&23A+%'(" " ('*3"E-*@" " " E%B'*'2&1@O" 8(" +,-" "I'3%(B"@-D*&"
-(-*B@"A*%I-&""D*-""B'%(B""+'""*%&-""D(?",-(I-"+,-"(--?"+'""I'(&-*E-""3'*-"-(-*B@O"
#&"/-""A*-&-(+""+,%&""E%&%'("%("!\\VG"&'3-"')"+,-""&+D1/D*+&""%(""+,-"&+--1"&-I+'*G""/,%I,"
%&"A*-&-(+1@""2(?-*B'%(B""&-E-*-"""3D*C-+""A*'>1-3&""D(?"%&"3D*C-?"">@"D"?'/(/D*?""+*-(?"
%(""A*'?2I+%'(""D(?"&D1-G""3D@">-""I@(%ID1"O""R'/-E-*G"3'&+"')"+,-"A*-&-(+"A*'>1-3&""D*-"
I'((-I+-?" " " /%+," D" B-(-*D1" " &1'/?'/(" " %(" %(?2&+*%D1" ?-3D(?" " ?2*%(B" !\\Lc\VO" " 8+" %&"
-f+*-3-1@"2(1%C-1@"+,D+"+,-&-""+*-(?&""/%11""I'(+%(2-O""8(?%D"%&"I'(+%(2%(B"+'""&,'/""D11"+,-"
&%B(&"')"D")D&+cB*'/%(B""-I'('3@"O""U,D+""3-D(&G"I'(&23A+%'("""')"&+--1""A*'?2I+&"/%11"B'"
2AO""7&%(B"+,%&"3D*C-?">D&-G"/-"&,'21?"" ">-"*-D?@""+'"I'3A-+-"" %("'2+&%?-"3D*C-+&O"W-"
('/",DE-""A*'>1-3&"')"I'3A-+%+%'(""""/%+,"&+--1")*'3""H,%(D""D(?"<'2+,"";'*-D"%(""'2*"
?'3-&+%I""3D*C-+&"O"8)"'2*"&+--1" %(?2&+*@"B-D*&"2A""%(""8(?%D("D(?")'*-%B("""3D*C-+&O":2*"
E%&%'(" " &,'21?" " >-" +'/D*?&"+,%&O"U%+D(%23^" " " 8(?%D"'II2A%-&" " " +,-" +'A" "A1DI-" %(" +-*3&"')"
B1'>D1" *-&-*E-&G" " A'&&-&&%(B" PLA-*" " I-(+" " ')" +,-" /'*1?Y&" " %113-(%+-" '*-&O" " " W%+," " +,-"
+%+D(%23"""%(?2&+*@""'("D"&'2(?"")''+%(B"D(?""+,-""B*'/%(B""DAA1%ID+%'("">D&-"")'*""+%+D(%23"
D(?"%+&"D11'@&"G""'2*"A*'a-I+%'("%&"U,D+""+%+D(%23""/%11"&--"D"32I,""1D*B-*""D(?"""&%B(%)%ID(+"
2&DB-"%("+,-"I'2(+*@"O""U,-"A*'?2I+%'("""')"3%11"A*'?2I+&""/%11"B'"2A")*'3""+,-"A*-&-(+" !KK"
+'"QGKKK"+'(&n@-D*">@"=K=KO""U%+D(%23"/%11"A-(-+*D+-""%(+'"('(c"D-*'&ADI-""&-I+'*&"1%C-""+,-
\K"
(DED1G"3D*%(-G"'%1"D(?"BD&"G"A'/-*"B-(-*D+%'("G"-+IO"U%+D(%23""/%11"D1&'">-I'3-"A'A21D*"%("
DAA1%ID+%'(" " &2I," " D&" " &2*B%ID1" +''1&G" " ?-I'*D+%E-" %+-3&G" >2%1?%(B" G" D*I,%+-I+2*-" D(?"
a-/-11-*@O" J-E-1'A3-(+" ')" I,-DA-*" D11'@&G" -OBO" U%+D(%23c#123%(%23c8*'(MU%c#1c_-" N"
/%11" )DI%1%+D+-" DII-&&" %(+'" I'33-*I%D1" 3D*C-+&" O" J-E-1'A3-(+" ')" " D11'@&" /%+," ,%B,-*"
+-3A-*D+2*-" " IDAD>%1%+@G" (-D*" (-+" &,DA%(B" " +-I,('1'B%-&" " D(?" " %&'+,-*3D1" " )'*B%(B" /%11"
ADE-""+,-"/D@"")'*"D("%(I*-D&-?""*'1-"')""+%+D(%23""%(""D-*'&ADI-O"""U%+D(%23""ID&+%(B&"/%11"
>-" "A*'?2I-?"" %(" "8(?%D" " )'*"-f+-(&%E-" "DAA1%ID+%'(" " %("+,-" "D-*'&ADI-G"I,-3%ID1G"3D*%(-"
D(?""3-I,D(%ID1""-(B%(--*%(B""&-I+'*O"
#""&+'*@"D>'2+"",'/""'2*""?-I%&%'(c3DC%(B""&@&+-3")D%1-?"+'""3DC-""B''?"&'3-"B*-D+"
'AA'*+2(%+%-&"""%("*-1D+%'("+'"+%+D(%23""3D@""">-"+'1?"",-*-O"4*')"0O0O"<,D*3DG"D("-3%(-(+"
+-I,('1'B%&+^" " D(?" " -?2ID+%'(%&+G" &A-DC&G"/%+," ?--A" -3'+%'(" " " D&" ,-" " 1%&+&" &-E-*D1" " &2I,"
3%&&-?" " 'AA'*+2(%+%-&O" R-" (D**D+-&" " %(" ?-+D%1" ,'/" 3D(@" " I'33%++--&" /-*-" " )'*3-?" G"
*-A'*+&" " B-(-*D+-?" " " " " D(?" )%1-&" I*-D+-?G" " ')+-(" +'" " 1-D?" +'" D" 3D&&%E-" ('(cDI+%'(" )'*"
?-ID?-&O"_'*",%3"+,-"ID&-""')"+,-"+%+D(%23"%(?2&+*@""+'A&"+,-"1%&+"')"3%&&-?"'AA'*+2(%+%-&O"
R-"+-11&"D>'2+"D"A%1'+""A1D(+""+'"I'(E-*+"'2*""+%+D(%23""'*-""+'"&A'(B-G""/,%I,",D&"">--("%("D"
A%1'+" A1D(+" " " " " " &+DB-" )'*"3'*-" +,D(" D" ?-ID?-" ('/O" U,'2B," "/-" ,DE-" " 8<X:G"J-)-(I-"
0-+D112*B%ID1" X-&-D*I," " FD>'*D+'*@" MJ0XFN" G" 0%&,D" J,D+2" .%BD3" M08JR##.8NG"
9#XH""D(?"3D(@"" %(?2&+*%-&" %("+,-""A2>1%I"D(?"A*%ED+-"&-I+'*""/,%I,""C('/",'/"+'"2&-"
+%+D(%23""%(?2&+*@"%&"&+*2BB1%(B""+'">-">'*(O"S-+G"/-")--1G"+,%&"%&"('"*-D&'("+'">-""'E-*D/-?"
D&" &'3-" 3'E-3-(+" " " %(" +,-" a2BB-*(D2+" " %&" ('+%I-?O" .'/G" +,-" J-AD*+3-(+" ')" #+'3%I"
5(-*B@"MJ#5N"%("I'11D>'*D+%'("/%+,"+,-"JXJ:""",D&""%(%+%D+-?"D"a'%(+"A*'a-I+"')"+%+D(%23"
&A'(B-"A*'?2I+%'(""')"QKKc+'((-"IDADI%+@"A-*"@-D*O""W-"D*-"I'()%?-(+""+,D+">@"+,-"+2*(""')"
+,-"3%11-((%23G" " D" +%+D(%23" " %(?2&+*@"/%11" &+D*+" D(?" B*'/" %(+'" D"3Da'*" " &-I+'*" " ')" '2*"
-I'('3@O"
8(" " D??%+%'(" " +'" %+&" " -fI-11-(+" " ('(cI'**'&%E-" " A*'A-*+%-&" D(?" &-E-*D1" A-*)'*3D(I-"
D?ED(+DB-""'E-*"'+,-*""3-+D1&""D(?"D11'@&G"'(-"")-D+2*-"')"+%+D(%23"%&"AD*+%I21D*1@"D++*DI+%E-"
+'">'+,"')"2&O"8+"%&">%'cI'3AD+%>1-O"U,D+"%&G%+"ID(">-"A1DI-?"%(&%?-"+,-",23D("9'?@"/%+,'2+"
D(@"D?E-*&-"-))-I+&"+'"+,-">'?@"'*"+,-"3D+-*%D1O"U'?D@"3D(@"A''*"D(?"1-&&"/-11c'))"A-'A1-"
,DE-">'(-"'*",%A"83A1D(+&"3D?-"'2+"')"&'3-"I,-DA"1'ID1"3D+-*%D1&O')+-(G?2-"U'"+,%&G"+,-@"
&2))-*"AD%(")'*"D"I'2A1-"')"@-D*&O"+,-@"ID(('+"C--A"H,D(B%(B"+,-"%3A1D(+&""')+-(
\!"
0D(@" >-I'3-" ,D(?%IDAA-?O"W,-(" +%+D(%23" %3A1D(+D>1-" AD*+&" D*-"3D?-" DED%1D>1-" '(" D"
1D*B-" <ID1-G" +,-@" /%11" >-" D))'*?D>1-" )'*" 3D(@" A-'A1-O" .'+" '(1@" /'21?" U,%&" *-?2I-" '*"
-1%3%(D+-" AD%(G" >2+" &%(I-" +,-" 1%)-+%3-" ')" +%+D(%23" 83A1D(+&" &2I," D&" ,%A" a'%(+&" '*" >'(-"
&I*-/&"I'21?">-"+/'"J-ID?-&"'*"3'*-G"%+"%&"D"1%)-+%3-"I2*-")'*"3D(@G"-&A-I%D11@"+,-"#B-?O"
XD*-" -D*+,&^" 8(?%D" %&" %(" D(" D?ED(+DB-'2&" A'&%+%'("/%+," *-)-*-(I-" +'" DED%1D>%1%+@" ')" *D/"
3D+-*%D1&M'(1@" (-f+" +'" I,%(DNO/%+," +,-" D?E-(+" ')" 3D(@" ,%B,c+-I,('1'B@"
A*'?2I+&nDAA1%ID+%'(&" >D&-?"'(" *D*-" -D*+,&G" I'(&%?-*D>1-" -))'*+"/%11" B'" %(+'" -&+D>1%&,%(B"
1D*B-c&ID1-" A*'?2I+%'(" D(?" DAA1%ID+%'(" DI+%E%+%-&O" 8(?%B-('2&" IDAD>%1%+%-&" /%11" >-"
-&+D>1%&,-?"+'"A*'?2I-"*D*-"-D*+,"'f%?-&G"3-+D1&G"D11'@&nI'3A'2(?&"+'"+,-"*-b2%*-?"?-B*--"
')" A2*%+@O" U,-" I'33-*I%D1" A*'?2I+%'(" ')".?c_-c9"3DB(-+&G" A%-d'-1-I+*%I"H-*D3%I" D(?"
'+,-*" &2I," A*'?2I+&" /%11" >-" +DC-(" 2A" D(?" 8(?%D" /%11" -(+-*" +,-" -fA'*+" 3D*C-+O" +,-&-"
A*'?2I+&" D*-" ('+" )'*" -&'+-*%I" DAA1%ID+%'(&O" 0%(%D+2*-" +DA-" *-I'*?-*&" '*" WD1C3D("
-D*A,'(-&G"D11"+,-&-",DE-">--("3D?-"A'&&%>1-"'("DII'2(+"')""+,-&-"/'(?-*"3-+D1&O"8)"8(?%D"
-(B%(--*%(B"-))'*+&"ID("1-D?"+'"3D(2)DI+2*-"')"B''?"DB*%I21+2*D1"3'+'*&"')"&3D11"&%d-"/%+,"
+,-&-"3DB(-+&G"/-"3D@" >-" D>1-" +'" A*'E%?-" -DI," )D*3-*"/%+," D" A23A" &-+" A'/-*-?">@" D"
&ID1D*"D*%?%+@"3D@"DAA-D*"?%))%I21+">2+"%+"%&"D"?*-D3"/'*+,"A2*&2%(BO"8(?%D"1D>'*D+'*%-&"D(?"
%(?2&+*%-&G" %(" AD*+%I21D*" DB-(I%-&" 1%C-".2I1-D*" _2-1" I'3A1-fM"._HNG" 8(?%D("XD*-" 5D*+,"
F+?M8X5FN" D(?" #+'3%I" 0%(-*D1&" J%E%&%'(" M#0JNG2(?-*" +,-" J-AD*+3-(+" ')" " #+'3%I"
-(-*B@G" ,DE-" I'(&%?-*D>1-" C('/1-?B-" D(?" -fA-*%-(I-" %(" +,%&" E%+D1" &-I+'*O" #123%(%23^"
W%+,"-fI-11-(+"*-&-*E-&"')">D2f%+-M8(?%D"*D(C&"_%)+,"%("/'*1?">D2f%+-"A*'?2I+%'(NG,DE%(B"
D" /-11c-&+D>1%&,-?" 4*'?2I+%'(" >D&-" )'*" D123(D" D(?" D123%(%23G" D(?" /%+," D" B*'/%(B"
J-3D(?" )'*" +,-" A*'?2I+&G" +,-" %(?2&+*@" %&" A'%&-?" )'*" 3Da'*" B*'/+,O" U,-" A*'?2I+%'(" ')"
D123%(%23"/%11" %(I*-D&-" )*'3"+,-"I2**-(+"KOQ"+'!OQ0Un@*">@"=KKK"D(?"A'&&%>1@"Q0Un@*"
>@"=K=KO"9D@-*Y&"D(?"-1-I+*'1@+%I"A*'I-&&-&"/%11" I'(+%(2-"+'">-"+,-"*'2+-")'*"-f+*DI+%'(G"
>2+" A*'I-&&" -))%I%-(I%-&"/%11" >-" %3A*'E-?O" 4D*+%I21D*1@" +'/D*?&" +,-" *-?2I+%'(" ')" A'/-*"
I'(&23A+%'(")'*"4*'?2I+%'("')"D123%(23"3-+D1O".-/-*"3D+-*%D1&"/%11">-"J-E-1'A-?")'*"
,%B," +-I,('1'B@" DAA1%ID+%'(&G" )'*" " -fD3A1-G" #123%(%23cF%+,%23M#1cF%ND11'@&" D(?"
D123%(%23c>D&-?" 0-+D1" 0D+*%f" " I'3A'&%+-&M00H&NOX-3'1?%(B" *-b2%*-&" '(1@" '(-c"
U/-(+%-+," ')" +,-" -(-*B@" (--?-?" +'" A*'?2I-" A*%3D*@" 3-+D1c" #II'*?%(B1@" D123%(%23"
*-I@I1%(B"/%11"BD%("%3A'*+D(I-O
\="
#123%(%23" D11'@&" D*-" -&&-(+%D1" >-ID2&-" ')" +,-%*" 1%B,+" /-%B,+" 8(" D-*'" A1D(-&G" )'*"
%(-fA-(&%E-"",'2&-,'1?"2+-(&%1&"D(?")'*"4'/-*"+*D(&3%&&%'("1%(-&O"#123%(%23""D11'@&"D*-"
1%C-1@" +'" )%(?" D" 3Da'*" " A1DI-" %(" )2*(%+2*-" D&" /''?" &2>&+%+2+-&G" D&" /-" (--?" +'" &DE-" +,-"
)'*-&+&O"
8("+,-")%-1?"')"D123%(%23"/-",DE-""B*D?2D+-?")*'3"+,-"'*-c"5fA'*+%(B"&+DB-"+'"3-+D1c"
DI%(BO" #II'*?%(B" +'" &'3-" ?D+D" 4*'E%?-?" >@" <OFO." #I,D*@212M%(" D" A*%ED+-"
I'332(%ID+%'(NGD" I*2I%D1" " A*'>1-3" /%+," '2*" D123%(%23" %(?2&+*@" %&" +,-" 1D*B-" -(-*B@"
I'(&23A+%'("/,%I,"3DC-&" +,-"I'&+"')" " +,-"A*'?2I+",%B,"D(?" +,-*-)'*-" 1-&&"I'3A-+%+%E-O"
U,-" +,-'*-+%ID1"-(-*B@" I'(&23A+%'(" *-b2%*-?" %("D123%(%23"-1-I+*'1@&%&" %&"]OPT"C%1'/D++"
A-*" ,'2*" A-*" CB" ')" 3-+D1g" -D*1@" DI,%-E-3-(+&" ')" +,-" " %(?2&+*@" /-*-" =Kc"
=QC/,nCBOA*-&-(+1@G"3'&+" 1-E-1&"/'*1?/%?-" D*-" !PC/,nCBO9@"=KKK" +,-"3'&+" " D?ED(I-?"
+-I,('1'B@"I'21?"*-DI,"!!OTC/,nCBO8("8(?%D"+,-"-(-*B@"I'(&23A+%'("')"+,-"
D123%(%23" %(?2&+*@" *D(B-&" >-+/--(!Qc=KC/,nCBG/,%I," %&" ,%B,-*" +,D(" +,-" B1'>D11@"
DII-A+-?" 1-E-1&O"92+"'(-"')"'2*""D123%(%23"I'3AD(%-&G"R%(?D1I'G%&"D3'(B"+,-" 1'/cI'&+"
A*'?2I-*&"')"D123%(%23" %("+,-"/'*1?O"X-I@I1%(B"')" +,-"&A-(+"A'+" 1%(%(B"D(?"*-I'E-*@"')"
>@cA*'?2I+&"1%C-"BD11%23G"ED(D?%23"D(?",-DE@"3-+D1&"&2I,"D&"1-D?G"I'AA-*"D(?"+%("/'21?"
%3A*'E-"+,-"-I'('3%I&"')"A*'?2I+%'(O"
0Da'*"D?ED(I-&" ,DE-" >--("3D?-" %(" (-D*" (-+" &,DA-"A*'I-&&-&"<2I,"D&" +,-" h_211"0'21?Y"
ID&+%(B"A*'I-&&"')"D123%(%23"D11'@&G"U,-*->@"A-*3%++%(B"A*'?2I+%'("')"A*'?2I+&"/%+," D"
?-B*--"')"I'3A1-f%+@"D(?"3DI," %(D>%1%+@"2(D++D%(D>1-" %("I'(E-(+%'(D1"A-*3D(-(+"3'21?"
ID&+%(BO" U,%&" ,D&" -(D>1-?" (-/-*" ?-&%B(&" %(" " D2+'3'+%E-&" %(?2&+*@" D(?" D123%(%23"
I'3A'(-(+&" D*-" )D&+" *-A1DI%(B" '+,-*" 3D+-*%D1&O" F%b2%?" )'*B%(B" +-I,('1'B@" '))-*-?"
A*DB3D+%I" 3%I*'" &+*2I+2*D1" H'(+*'1&" +,*'2B," +,-" 2&-" ')" A*-&&2*-" +'" %()12-(I-" +,-"
<'1%?%)%ID+%'("')"D"3-1+"I'(+D%(-?"%("D"?%-O"U,%&"-(&2*-?"(-D*")'*B-?"A*'A-*+%-&"/%+,"(-D*"
(-+"&,DA-"IDAD>%1%+@O"
8(" '*?-*" +'" -(*%I," 8(?%D(" %(?2&+*%-&" +-I,('1'B%I&D11@G" (-/-*" D11'@&"/%+," ,%B," ED12-"
D??%+%'("D*-"+'">-"I'(+%(2'2&1@"?-E-1'A-?"D(?"D?'A+-?O"8(?%D"%&"*-A'*+-?"+'">-"A*'?2I%(B"
=KGKKK"U"')"A1D+-&n+2>-&"D(?"!KGKKK"U"')")'%1&O"U,-"&-3%cA*'?2I+&"3D(2)DI+2*%(B"I'&+"%&"
'(1@" !K" A-*" I-(+"')" +,-" A*%3D*@"3-+D1" D(?" ,-(I-" +,-" IDA%+D1" I'&+"')" &-++%(B" 2A" D" &-3%c"
)D>*%ID+%'("A1D(+" %&" a2&+"!K"A-*"I-(+"+,D+"')"D"&3-1+-*O"U,%&"3DC-&"B*'/+,"D(?"-fAD(&%'("
-D&%1@" DI,%-ED>1-O" U,-" ?'/(&+*-D3" A*'?2I+&" /'21?" %(I12?-" &A-I%D1" D123%(%23" ID>1-&G
\P"
?'3-&+%I"A*'?2I+&G"D123%(%23"A*'?2I+&"%("+,-",'2&-c>2%1?%(B"&-I+'*"D(?"ED*%'2&"+*D(&A'*+"
DAA1%ID+%'(&O" AD*+%I21D*1@" %(" 8(?%DG" +,-" >D&-" )'*" +,-" &-3%c" )D>*%ID+%'("D(?" )D>*%ID+%'(" ')"
+,-&-"?'/(&+*-D3"D123%(%23"A*'?2I+&"&,'21?">-"I'(&%?-*D>1@"/%?-(-?O"6*-D+-*"%(A2+&"%("
?-&%B(G" ?-E-1'A3-(+" D(?" DAA1%ID+%'(" -(B%(--*%(B" &,'21?" >-" -(D>1-?" )'*" &2AA'*+%(B" +,%&"
?'/(&+*-D3" D123%(%23" %(?2&+*@O" HDADI%+@" -(,D(I-3-(+" &,'21?" >-" D&&'I%D+-?" /%+,"
b2D1%+@"83A*'E-3-(+&O"
#&"D"I'2(+*@"/-",DE-"A1-(+@"')" &I'A-"+'"3D*C-?"3D(@",%B,"$D12-cD??-?"A*'?2I+&"
>D&-?"'("D123%(%23"D(?"%+&"D11'@&O"U,D+"8&"+,-"E%&%'("/-",DE-")'*"+,-"8(?%D("D123%(%23"
%(?2&+*@O"
H'3A'&%+-" 3D+-*%D1&^" U,-*-" /%11" " >-" D" &2>&+D(+%D11@" %(I*-D&-?" 7&DB-" ')" I'3A'&%+-&" %("
3D(@" &-I+'*&" >@" =K=KOU,-" 3Da'*" $'123-" ')" B*'/+," /%11" >-" I'(+*%>2+-?" >@" +,-"
+*D(&A'*+D+%'("D(?"H'(&+*2I+%'("&-I+'*&O"61D&&")%>*-c*-%()'*I-?"A'1@3-*&M6X4N"W%11"&--"D"
3Da'*" -fAD(&%'(" %(" +,-" I%E%1%D(" &-I+'*O" A*'?2I+%'(n" A*'I-&&%(B" +-I,('1'B%-&" &2%+D>1-" )'*"
3D&&"A*'?2I+%'("/%11">-"-&+D>1%&,-?G">*%(B%(B"?'/("+,-"I'&+O"4*'?2I+%'("')"3-+D1"3D+*%f"
I'3A'&%+-&M00H&N/%11" >-" -&+D>1%&,-?" >@" =K!uK" )'*3%Ic+-I," DAA1%ID+%'(&" k-OBOG" &ADI-"
&+*2I+2*-G" D-*'" -(B%(-" I'3A'(-(+&G" D(?" 1D(?%(B" B-D*" )'*" D%*I*D)+O" I-*D3%I" 3-+D1"
I'3A'&%+-&" /%11" >-" ?-E-1'A-?" >@" =K=K" )'*" DAA1%ID+%'(" %(" *-I%A*'ID+%(B" -(B%(-&G" BD&"
+2*>%(-"-(B%(-&"D(?"/-D*c*-&%&+D(+"AD*+&O"X-AD%*n3D%(+-(D(I-"&I,-3-&")'*"I'3A'&%+-&"/%11"
>-"&+D(?D*?%d-?O"
8",DE-"D"B*-D+"?-D1"')"%(+-*-&+"%(">'+,"*'IC-+*@"D(?"I'3A'&%&+-&OW,-("+,-")%>*-c*-%()'*I-?"
A1D&+%I&M_X4N?%E%&%'(" /D&" -&+D>1%&,-?" %(" +,-" 1D+-" &%f+%-&" D+" +,-" &ADI-" &I%-(I-" D(?"
U-I,('1'B@" I-(+*-M<<UHND+" U*%ED(?2*23" M/,%I," %&" ('/" D" AD*+" ')" $%C*D3" &D*D>,D%"
&ADI-I-(+*-c$<<HNG8"",D?""D"(23>-*"')"A*'a-I+&"D%3-?"D+"+,-"I%E%1%D("I'33-*I%D1"2&-&"')"
_X4"D(?"""I'3A'&%+-&O"U,-&-"*D(B-?")*'3")%&,%(B">'D+&"+'")''?B*D%("&+'*DB-"&%1'&O"J2-"+'"
+,-" ?-3D(?&" '(" 3@" +%3-" )*'3" +,-" &'2(?%(B" *'IC-+" A*'a-I+&" D(?" 8(?%DY&" )%*&+" &D+-11%+-"
1D2(I," E-,%I1-" M<F$cPN" A*'a-I+" /,%I," /D&" %(" +,-" )'*321D+%'(" &+DB-&" +,-(G" %+" /D&" ('+"
A'&&%>1-")'*"3-"+'"A2*&2-"+,-&-"A*'a-I+&"+,-(O"0@"-))'*+&"+'/D*?&"DAA1%ID+%'("-(B%(--*%(B"
2&%(B"D?ED(I-?"I'3A'&%+-"3D+-*%D1&"/-(+"%(+'"+,-"?-&%B("')"*'IC-+"3'+'*"ID&-&"D(?"'+,-*"
&+*2I+2*-&"*-b2%*-?">@"+,-"1D2(I,"E-,%I1-"D(?"&D+-11%+-"A*'a-I+O"#"I-(+*-G"ID11-?"X-%()'*I-?"
A1D&+%I&" I-(+*-MX54F#H5NG/D&" I*-D+-?" +'" 3--+" +,-&-" ?-3D(?&O" U'?D@" X54F#H5G" %(
\T"
D??%+%'(" +'" 3--+%(B" 8<X:Y&" *-b2%*-3-(+&" ')" I'3A'&%+-&" A*'?2I+&G" %&" ?-E-1'A%(B"
A*'+'+@A-&")'*""'+,-*"I'33-*I%D1"I%E%1%D("A*'?2I+&O"
W,-("8"1-)+"8<X:"+'",-D?"8(?%D(Y&")%*&+"0%&&%1-"J-E-1'A3-(+"A*'B*D33D+%I"?%?"('+"
)'*B-+" +,-" *'1-" ')" D?ED(I-?" I'3A'&%+-&O" 7(?-*" +,-" J-)-(I-" X-&-D*I," J-E-1'A3-(+"
FD>'*D+'*@MJXJFND(?" +,-" X-&-D*I," I-(+*-" 83D*D+MXH8NG8" (2*+2*-?" D" I'3A'&%+-"
A*'?2I+%'("I-(+*-"ID11-?"H:04X:HM('/"I'3A'&%+-"A*'?2I+&"J-E-1'A3-(+"I-(+*-NO"U,%&"
I-(+*-" /D&" +'" A*'E%?-" +,-" 3%&&%1-" A*'B*D33-" /%+," I'3A'&%+-" AD*+&O" 8+" D1&'" A*'?2I-?"
I'3A'&%+-" ?-E%I-&" 1%C-" _X:&" )'*" ?%&D>1-?"A-*&'(&O" 8(" D??%+%'(G" +,-" %?-D&" I*-D+-?"2(?-*"
+,-" D-B%&" ')" XH8" D(?" H:04X:H" ,DE-" 1-?" +'" D"3Da'*" #?ED(I-?" H'3A'&%+-&"0%&&%'("
&2AA'*+-?" >@" +,-" B'E-*(3-(+O" U,%&" 3%&&'(" %&" +'" ID+D1@d-" D" (23>-*" ')" D?ED(I-?"
I'3A'&%+-&" A*'?2I+&" /,%I," ID(" >-" I'33-*I%D1%d-?" %(" +,-" I%E%1%D(" &-I+'*c?''*&G" +D>1-&G"
A2&,ID*+&")'*"E-B-+D>1-"E-(?'*&G">*-DCc?*23&")'*"D2+'3'>%1-&G"D(?"&'"'(O"
8(" +,-" I'3%(B" ?-ID?-" +,-*-" /%11" >-" 3Da'*" DAA1%ID+%'(" ')" +,%&" +-I,('1'B@" " +'"
*D%1/D@"&1--A-*&O"W,%1-"/''?"%&"D"/-11cA*'E-("3D+-*%D1G"/-"(--?"+'"DE'%?"%+&"2&-"+'"&DE-"
'2*")'*-&+&O"/-"D*-" %3A'*+%(B"/''?-("&1--A-*&"('/O"8("D??%+%'("+'"I'&+&" +,-*-"D*-"'+,-*"
'A-*D+%'(D1"A*'>1-3&O"I'(I*-+-c%*'("&1--A-*&",DE-">--("+*%-?"'("D"1D*B-c&ID1-g"+,-@">*-DC"
+''" ')+-(O" _X4M_%>*-" X-%()'*I-?" 41D&+%IN" >DC-?" &1--A-*&" /'21?" >-" D" 3Da'*" &2>&+%+2+-O"
U*%D1&"D*-"2(?-*/D@"('/O"
8(?%D"%&"/D@"?'/("%("+,-"2&-"')"I'3A'&%+-&g"+,%&"%+&-1)"%&"AD*+1@"D("%(?%ID+'*"')"+,-"
1'/"&+D+2&"')"%(?2&+*%D1"+-I,('1'B%-&O":2*"E%&%'("%&"+,D+"+,%&"/%11"I,D(B-"?*D&+%ID11@"%("+,-"
(-D*")2+2*-O"U,%&"E%&%'("%&"('+"3-*-1@">-ID2&-"/-"1%C-"I'3A'&%+-&"+-I,('1'B@">2+">-ID2&-"
%+" %&"D("%3A'*+D(+"hA-*)'*3D(I-"3D+-*%D1Y"')"+,-")2+2*-O"8+"/%11" %3A*'E-"-(-*B@"-))%I%-(I@"
%(" +,-" +*D(&A'*+" &-I+'*" D&" %+" *-?2I-" +,-" ?-D?"/-%B,+" +'" >-" ID**%-?O"H'3A'&%+-"3D+-*%D1&"
B%E-" 32I," >-++-*" &+*-(B+,&" +,D(" I'(E-(+%'(D1" 3D+-*%D1&" /%+," 32I," 1-&&-*" /-%B,+O" #"
I'3A'&%+-"A*'?2I+"ID(">-"?-&%B(-?"?%*-I+1@O"U,%&" %&"D(" %3A'*+D(+"A*'A-*+@"/,%I,">*%(B&"
?'/("/-%B,+"/%+,"D??%+%'(D1" &+*-(B+," )'*"D(@"DAA1%ID+%'(O" 8+&" 1%B,+"/-%B,+"I'2A1-?"/%+,"
,%B,"&+*-(B+,",D&"3D?-"%+"D")DE'*%+-"I,'%I-")'*"+'?D@Y&"&A'*+&"B''?&O"8(?2&+*%D1"'A-*D+%'(D1"
-))%I%-(I@"/'21?"D1&'" %(I*-D&-"/%+,"&-1-I+%E-"2&-"')"I'3A'&%+-&O"#(?G"')"I'2*&-G")'*"+,-"
?%&D>1-?" %+" %&" D"/'(?-*"3D+-*%D1" +'"3%+%BD+-" &-E-*D1" ')" +,-%*" A,@&%ID1" ,D(?%IDA&O"U'?D@"
I'3A'&%+-"3D+-*%D1&" D*-" D1&'" ,'A%(B" %(" A*'E%?%(B" 1%B,+/-%B,+" >'(-c&-++%(B" >D(?DB-&" D&"
DBD%(&+"+,-">21C@"A1D&+-*c')cAD%*&"ID&+&"('*3D11@"2&-?O
\Q"
W-" ,DE-" ('" ?'2>+" +,D+" 8(?%D(" %(?2&+*%-&" D('+,-*" 2&-*&" /%11" &''(" gg+D&+-" +,-"
+-I,('1'B%-&"DED%1D>1-"%("321+%A1-" 1D>'*D+'*%-&"D(?"/%11" a'%("+,-"/'*1?"1-D?-*&" %("+,-"2&-"
D(?"A*'?2I+%'("')"I'3A'&%+-"3D+-*%D1&O"
U,-*-" %&"D(" " %(+-*-&+%(B"'>&-*ED+%'(" %("D" >''C"A2>1%&,-?">@"/-&+"E%-/"A*-&&"
-(+%+1-?" U,-" 8(+-*(D+%'(D1" 0%&&%1-" 9DdDD*G" -?%+-?" >@" W%11%D3" IOA'++-*" D(?" RD*1D("
WO[5.H;<OY+,-"XH8" *-I-(+1@" a'%(-?"/%+," +,-" +-I,('1'B@" %()'*3D+" %'("_'*-ID&+%(B"D(?"
a'%(-?" /%+," +,-" U-I,('1'B@" 8()'*3D+%'(" _'*-ID&+%(B" D(?" #&&-&&3-(+" H'2(I%1" ')" +,-"
J-AD*+3-(+"')"<I%-(I-"D(?"U-I,('1'B@"+'"3D*C-+"D?ED(I-?"I'3A'&%+-&G&2I,"D&"ID*>'("c"
)%>*-OI'3A'&%+-&O" I'3A'&%+-" A*'?2I+%'(" D+" +,-" I'3A'&%+-&" " A*'?2I+%'("
I-(+*-MH:04X:6ND+""XH8G"/,%I,"/%11">-"'A-*D+-?""a'%(+1@"/%+,"8(?%D("%(?2&+*@O"_%(D11@G"
3D(@"A*%ED+-"%(?2&+*%-&"%(+'"+,-")%-1?O"<''(")'*-%B("A*'?2I+&"/%11"D1&'"I'3-"+'"8(?%D"D(?"
I'3A-+-"/%+," +,-" 1'ID1" A*'?2I+&O" &2AA1@%(B" "3D+-*%D1&" D(?" +-I,('1'B%-&" +'" +,-" 860J4"
I'21?" -fA'*+" +,-%*" A*'?2I+&O" H-*D3%I" 3D+-*%D1&^/,-(" /-" &+D(?" >-)'*-" D" /D&," >D&%(G'*"
,DE-"D">D+," %("D"+%1-?">D+,*''3"'*"&%A"+-D" %("D"I2AG/-"+DC-")'*" "B*D(+-?"+,-"2(>%b2%+'2&"
A*-&-(-" " ')" I-*D3%I&" %(" '2*" 1%)-O" U,-@" ,DE-" >--("/%+," 2&" %(" &'3-" )*'3"'*" D('+,-*" )'*"
I-(+2*%-&O" W-" D1&'" ('+-" +,D+" +,-%*" b2D1%+@" ,D&" %3A*'E-?" 'E-*" +,-" @-D*&O" /%+," +,-" +'+D1"
o2D1%+@" 0'E-3-(+" B*%AA%(B" +,-" 8(?%D(" %(?2&+*@" 'E-*" +,-" AD&+" &-E-*D1" @-D*&G" '(-"
%(?2&+*%D1%&+"*-I-(+1@"I'33-(+-?"+'"2&^Y"/%+,"%3A*'E-3-(+"%("b2D1%+@"D(?"+,-"A*DI+%I-"')"
8(+-*(D+%'(D1" <+D(?D*?&" :*BD(%dD+%'(M8<:N\KKK" &@&+-3G" 3@" >2&%(-&&" E'123-" %&" B'%(B"
?'/(" D&" +,-*-" D*-" 1-&&" >*-DCDB-" D)+-*" &D1-&sY" U,-*-)'*-G" ,D&" >--(" 1''C%(B" )'*"
?%E-*&%)%ID+%'("%(+'"(-/-*"I-*D3%I&"DAA1%ID+%'(O"R-"%&"D"/%&-"A-*&'(O9-ID2&-G-E-("/,%1-"
+,-" &D1-" ')" +*D?%+%'(D1" I-*D3%I" A*'?2I+&" /%11" B*-D+1@" %(I*-D&-" %(" '2*" I'2(+*@G" /%+," +,-"
B*'/%(B"?-3D(?")'*"I-*D3%I"/D*-"')">-++-*"b2D1%+@"D(?"DAA-D*D(I-G"+,-*-"/'21?">-"3D(@"
3'*-" -(+*D(+&" ,2&" +%3-" )'*" +,-" 8(?%D(" %(?2&+*@" +'" -(+-*" %(+'" '+,-*" D*-D&" ')" D?ED(I-?"
I-*D3%I&" D&" /%11O" H-*D3%I&" D*-" ('/" -(+-*%(B" %(+'" D2+'3'>%1-" D%*I*D)+" -(B%(-&g/%+," +,-"
(-/-*" *-b2%*-3-(+&" )'*" )2-1" -))%I%-(I@G('+" '(1@" )'*" -I'('3%I" *-D&'(&" >2+" )'*"
-(E%*'(3-(+D1"*-D&'(&"G%(+-*(D1"I'3>2&+%'("-(B%(-&"D(?"'+,-*"-(-*B@"I'(E-*&%'("&@&+-3"
D*-"1%C-1@"+'"'A-*D+-"D+",%B,-*"D(?",%B,-*"+-3A-*D+2*-&O"U,-@",DE-"D"2(%b2-"D?ED(+DB-"')"
,-D+"*-&%&+D(I-"D+"+,-&-"C%(?&"')"+-3A-*D+2*-&O"H-*D3%I&",DE-"D1&'"&+D*+-?"I'3A-+%(B"/%+,"
+*D?%+%'(D1" 3DI,%(-" +''1&O" U,-" I2++%(B" IDAD>%1%+@" ')" I-*D3%I" %&" B''?" )'*" D" (23>-*" ')"
DAA1%ID+%'(&OH-*D3%I&"ID("D1&'">-"-(B%(--*-?"+'">-">%'I'3AD+%>1-"D(?"D*-">-%(B""2&-?"D&
\]"
*-A1DI-3-(+&")'*">*'C-(">'(-&O"<'3-"')"+,-"*-D?-*&"3D@"D1*-D?@">-",DE%(B"I-*D3%I"IDA&"
'("+,-%*" +--+,O0D(@"3D@"('+">-"D/D*-"')" +,-"I*2I%D1" *'1-"')"I-*D3%I&" %(" +,-"-1-I+*'(%I&"
%(?2&+*@OU,-@" )*'3" +,-" >D&-GID11-?" &2>&+*D+-G)'*" D" (23>-*" ')" 3%(%D+2*-" -1-I+*'(%I&"
?-E%I-&"/,%I," D*-" I'D+-?"'*" -+I,-?"'(" &2I," &2>&+*D+-&G" C--A%(B" 2A"/%+," +,-" " +*-(?&" ')"
3%I*'c3%(%D+2*%dD+%'(O0D(@"I-*D3%I""3D+-*%D1&"D*-"I*2I%D1")'*"D?ED(I-?"&-(&'*&O"U,-"+%(@"
3%I*'A,'(-&" %(" @'2*" +DA-c*-I'*?-*&" '*" %(" D" I'11D*" 3%C-" ,DE-GD2+'3'>%1-&GA'112+%'("
?-+-I+%'("D(?"I'(+*'1"D(?"&-I2*%+@" &@&+-3&O"U,-*-" %&"B''?"&I'A-"%("+,-"?'3-&+%I"3D*C-+"
)'*"D?ED(I-?"I-*D3%I&"D&"/-11"D&")'*"+,-%*"-fA'*+"+'"'+,-*"I'(+*%-&O"
92%1?%(B"3D+-*%D1&^U,-"?*-D3"')"3'&+"3%??1-"I1D&&"D(?"1'/-*" %(I'3-")D3%1%-&" %&"+'"
,DE-",'2&-&"'-*")1D+&"')"+,-%*"'/(O8(;-*D1DG)'*"-fD3A1-G+,-"621)"-3A1'@3-(+">''3"/D&"
3'&+"E%&%>1-" " %(" +,-" )1''?"')",'2&-c>2%1?%(B"DI+%E%+@OU,-"-3A1'@3-(+">''3" %("+,-"621)"
I'2(+*%-&"/,%I,"/D&"&'-D*,-D?-?">@"+,-"+D1-(+-?"A-'A1-"')"C-*D1DG",D&"*-&21+-?-"%("+,-%*"
,DE%(B" B*-D+-*" -D*(%(BOU,-@" ,DE-" 3'(-@" +'" &DE-" D)+-*" &A-(?%(B" '(" )''?" D(?"
I1'D+%(BOU,-&-" &DE%(B" ,DE-" 1-?" +'" D" *DA%?" B*'/+," ')I'(&+*2I+%'(" DI+%E%+%-&" D11" D*'2(?"
;-*D1DO"U,%&"D++%+2?-"')"%(E-&+%(B")%*&+"%("D",'2&-"D(?G')"I'2*&-Ga-/-11-*@"%&"I'33'("+'"D11"
8(?%D(&O<2I," %(E-&+%(B&G" %)" ?%*-I+-?" +'/D*?&" %(?2&+*%-&G" /%11" ,DE-" D" B''?" %3ADI+" '("
(D+%'(D1" /-D1+,O<+%11G/-" ,DE-" +'" *-3-3>-*" +,D+" 3'&+" 8(?%D(&" ?'" ('+" ,DE-" A*'A-*"
,D>%+D+%'(O"0'&+"')"+,-3"1%E-",'2&-&"3D?-"')"-D*+,"D(?">%'3D&&OU,-@"(D+2*D11@"?-&%*-"+'"
,DE-"&+*'(B-*"D(?"3'*-"?2*D>1-"?/-11%(B&O"8("+,-"8(?%D"')"'2*"E%&%'("G/-"/'21?"1%C-"+'"&--"
D11" 8(?%D(&" ('+" '(1@" /-11cI1'+,-?" D(?" /%+," DII-&&" +'" D))'*?D>1-" ,-D1+," ID*-"
&@&+-3&MA*-E-(+%E-" D(?" I2*D+%E-NG>2+" /-" /'21?" D1&'" 1%C-" +'" &--" +,D+" D11" ')" +,-3" ,DE-"
?2*D>1-",D>%+D+%'("/%+,"B''?"&D(%+D+%'("" )DI%1%+%-&O"7&%(B"I'&+c-))-I+%E-">*%IC&"/%+," 1'ID1"
I-3-(+%(B"3D+-*%D1 I'21?">-"+,-"D(&/-*O"
U,-" >2%1?%(B&" ')" +,-" )2+2*-" /%11" ,DE-" 3D(@" )-/" )-D+2*-&" ')" D-&+,-+%I&" D(?"
I'(E-(%-(I-O" 0D(@" ,'2&-&" 3D@" ,DE-" >2%1+c%(" )1D+" AD(-1" ?%&A1D@&" )'*" -(+-*+D%(3-(+G"
>2&%(-&&"'*"-?2ID+%'(D1"%()'*3D+%'(O"U,-%*"-(-*B@"&'2I-&"/%11">-"I1D-D(-*G">D&-?""'("&'1D*"
A'/-*" '*" ,@?*'B-(O" U,-" B1D&&" AD(-&" ')" /%(?'/&" D(?" ?''*&" 3D@" ,DE-" I'(?2I+%(B"
A'1@3-*&" +'" *-B21D+-" +*D(&3%&&%'(" ')" &'1D*" *D@&" %(+'" +,-" *''3O"U,-" 1-DCDB-&" ?2*%(B" +,-"
3'(&''("3D@" >-" D" +,%B" ')" +,-" AD&+" ?2-" +'" %3A*'E-?"?-&%B(" D(?" I'(&+*2I+%'("3-+,'?&O"
#>'E-"D11G" +,-"+%3-"+DC-(" )'*"I'(&+*2I+%'("')",'2&-&"D(?">2%1?%(B&"3D@">-"I2+"?'/("+'"
&-E-*D1"/--C&"'*"D")-/"3'(+,&G"%(&+-D?"')"@-D*&O"U,%&"/'21?">-"DI,%-E-?"+,*'2B,"+,-"2&-
\L"
')" A*-)D>*%ID+-?" &+*2I+2*-&" D(?" ED*%'2&" '+,-*" )DI+'*@3D(2)DI+2*-?" AD*+&" 1%C-" D?ED(I-?"
I'3A'&%+-&"?''*&O"
H-3-(+"/%11"I'(+%(2-"+'">-"D"?'3%(D+%(B">2%1?%(B"3D+-*%D1O"8+&"I'(&23A+%'("/%11"
B'" 2A" )*'3" LQ" 0U" %(" !\\Q" +'" !!Q" 0U" %(" =KKQO" .D+2*D1" DBB*-BD+-&" D*-" 1%C-1@" +'"
A*-?'3%(D+-"-E-(">-@'(?"=K=K"?2-"+'"+,-%*"-D&@"DED%1D>%1%+@O""H'(I*-+-"/%11"I'(+%(2-"+'"
>-"D("%(?%&A-(&D>1-"3D+-*%D1"')"I'(&+*2I+%'(O"<--1G"+''G"/%11"I'(+%(2-"+'">-"2&-?"D&"'(-"')"
+,-"3Da'*"&+*2I+2*D1"3D+-*%D1&"D&"/-11"D&")'*"*-%()'*I-3-(+"%("I'(I*-+-O"_1@"D&,"A*'?2I-?"
>@">2*(%(B"I'D1"%("-1-I+*%I"A'/-*"&+D+%'(&"/%11">-"%(I*-D&%(B1@"2&-?"D1'(B"/%+,"I-3-(+"D&"
+,-*-"%&"D"(--?"+'"I'(&-*E-"I-3-(+O"U,-">D&%I"*D/"3D+-*%D1&"+,D+"B'"+'"3DC-"I-3-(+"D*-"
('+" B'%(B" +'" 1D&+" 1'(BO" 4*-&-(+1@" 1%3-&+'(-G" +,-" A*%(I%AD1" %(A2+" )'*" 3DC%(B" I-3-(+G" %&"
-D&%1@"DE%D>1-"/%+,"1%++1-"-))'*+"*-b2%*-?"+'"3%(-"%+O"R'/-E-*G"&2I,"1%3-&+'(-"*-&-*E-&"3D@"
1D&+"'(1@"D"I-(+2*@O"U,-("/-"3D@",DE-"+'"?%B"?--A-*G"/,%I,"3-D(&"3'*-"I'&+O"U,-*-)'*-G"
+,-" 2&-" ')" )1@" D&," %&" *-b2%*-?" ('+"'(1@" D&" D(" -(E%*'(3-(+D1" A*'+-I+%'("3-D&2*-" >2+" )'*"
I'(&-*E%(B"(D+2*D1"*-&'2*I-&O"
U,-"6'E-*(3-(+"')"8(?%D",D&"3'2(+-?"D"3Da'*"+-I,('1'B@"?-3'(&+*D+%'("A*'a-I+"
)'*")1@"D&,"2+%1%dD+%'(O"U,%&"3%&&%'("
0'?-"A*'a-I+"/D&"+,-"*-&21+"')"-D*1%-*"/'*C">@"U8_#H"D(?"%&"('/">-%(B"%3A1-3-(+-?">@"
%+" D1'(B" /%+," 3D(@" (D+%'(D1" D(?" &+D+-" B'E-*(3-(+" DB-(I%-&" D&" /-11" D&" %(?2&+*%-&" D(?"
%(&+%+2+%'(&O"8("3D(@"AD*+&"')"8(?%DG" +,-*-"D*-"&2II-&&)21"-fD3A1-&"')" +,-"2&-"')" )1@"D&,O"
U,-")%*&+"/D&")'*"+,-":C,1D")1@'E-*">*%?B-"/,%I,"%&"'A-*D+%(B"&2II-&&)211@O"U,%&"&2II-&&"
1-?"+'"%+&"2&-" )'*"D('+,-*">*%?B-G" +,-"RD(23D("&-+2O"U,-"I-(+*D1"D(?"J-1,%"B'E-*(3-(+&"
,DE-"D1&'"I1-D*-?"+,-"I'(&+*2I+%'("')"D"!OL"C3"DAA*'DI,"*'D?"I'((-I+%(B"D"(-/">*%?B-"D+"
.%dD32??%(O" .-/" J-1,%" +'" .:8J#" WR8HR" 7<5<" _FS" #<RO" #('+,-*" A*'a-I+" )'*"
I'(&+*2I+%'("')"D"!"C3"*'D?"2&%(B")1@"D&,",D&"&+*D+-?"D+"4D(%AD+O"U,-"I'(&+*2I+%'("')")'*2"
?/-11%(B" 2(%+&" D+" +,-" D>D(?'(-?" )1@" D&," A'(?" ')" +,-" .D+%'(D1" _-*+%1%d-*&" F+?M.5FN" D+"
AD(%AD+",D&">--("&2II-&&)21G" D(?"+,-@",DE-">--(" +-&+-?"+,*'2B,"D"3'(&''("&-D&'(O"U,-"
*-&21+&" %(?%ID+-" +,D+"D" &+*2I+2*-"2A" +'" )'2*" &+'*-@&",%B,"ID(" >-" &D)-1@"D(?"-I'('3%ID11@"
-*-I+-?" D+" D>D(?'(-?" D&," A'(?&G" R'/-E-*G%(+%D1" +-&+%(B" 'B" +,-" &%+-" %&" *-b2%*-?" D&" %&"
2&2D11@"?'(-")'*"*-B21D*"&'%1"D&"/-11O"
#3'(B"'+,-*"&2II-&&"/%+,")1@"D&,"%&"D"!"C3"*'D?"(-D*"XD%I,2*"/,%I,"%&"'A-*D+%(B"
/-11G"D(?"D"*'D?"%(".-/"9,2aG"62aD*D+O"X'D?">2%1?%(B"+,*'2B,"+,-"2&-"')")1@"D&,",D&">--(
\V"
&+D(?D*?%d-?" /%+," +,-&-" -fA-*%3-(+&G" D(?" ?*D)+" &A-I%)%ID+%'(&" ,DE-" >--(" A*-AD*-?" )'*"
&2>3%&&%'(" +'" +,-" 8(?%D(" X'D?" H'(B*-&&O" U,-*-" D*-" '+,-*" 2&-&" ')" )1@" D&,G" D&" %(" +,-"
2(?-*B*'2(?" 3%(-" )%11" ?-3'(&+*D+-?" D+" XD3DB2(?D3O" <-E-*D1" '+,-" A*'a-I+&" D%3-?" D+"
DB*%I21+2*D1" DAA1%ID+%'(&" D*-" 2(?-*/D@O" 4,'+'(%I" 3D+-*%D1&^" U,-" ?-E-1'A3-(+" ')"
-1-I+*'(%I&" %(" 8(?%D(" %&" *-I-(+" D(?" ,D&" 3D*C-?" D" *-E'12+%'(" %(" %(?2&+*%D1%dD+%'(" D(?"
-I'('3%I"B*'/+,G">-&%?-&"D??%(B"+'",23D("I'3)'*+&O"0'&+"')"+,-"3'?-*("+-I,('1'B%ID1"
h3%*DI1-&Y"D*-"?2-"+'"-1-I+*'(%I&G"+,D+" %&G"I'(+*'11%(B"+,-")1'/"')"-1-I+*'(%I&O"U,-"B*'/+,"
')" -1-I+*'(%I&" ,D&" 1-?" +'" (-/-*" D(?" B*D+-*" ?-3D(?&^" ')" +,-" D3'2(+" ')" ?D+D" +'" >-"
+*D(&)-**-?g"32I,",%B,-*"*-&'12+%'(&"')"+*D(&3%++-?"A%I+2*-&g"3D(@"3'*-"AD*D3-+-*&"+'">-"
3-D&2*-?"D(?"&'"'(O"U,-&-"?-3D(?&",DE-"1-?"+'"+,-"3D&+-*@"')"hI'(+*'1"')"A,'+'(&YG"+,D+"
%&G"+,-"hAD*+%I1-&"')"1%B,+YO"FD&-*&"D(?")%>-*('A+%I&")D11"%("+,-"ID+-B'*@"')"A,'+'(%I&O"W,%1-"
+,-*-" %&"I'(&%?-*D>1-"C('/1-?B-"')"-1-I+*'(%I&G"'A+%I&"D(?"&')+/D*-"D*-" " %(E'1E-?" %("+,-"
DAA1%ID+%'(&" ')" A,'+'(%I&G" D(?" +,-" >D&%I" ?-E%I-&" D(?" D&&-3>1%-&" (--?" E-*@" D?ED(I-?"
-(B%(--*%(B"')"3D+-*%D1&G"A*'I-&&"-(B%(--*%(B"D(?"?-&%B("3-+,'?&O"
4,'+'(%I&" /%11" ?'3%(D+-" D11" /D1C&" ')" 1%)-" %(" +,-" +/-(+@c)%*&+" I-(+2*@O" 8+" /%11"
A-(-*D+-" %(+'" &-E-*D1" D*-D&" +*D?%(D+%'(D1@" I'E-*-?" " >@" -1-I+*'(%I&" &2I," D&"
I'332(%ID+%'(&G"I'3A2+D+%'(G"3-3'*%-&"-+IO"8+"/%11",DE-" )D*c*-DI,%(B"-))-I+&" %("&-E-*D1"
I*%+%ID1" D*-D&" &2I," D&" %()'*3D+%'(" +-I,('1'B@G" )%>-*" 'A+%I&c>D&-?" +-1-I'332(%ID+%'(G"
?%DB('&+%I&" D(?" +,-*DA-2+%I" DAA1%ID+%'(&" %(" ,-D1+," ID*-G" A'112+%'(" I'(+*'1G1%)-" &I%-(I-&G"
>-&%?-&"'+,-*&O"
J-E-1'A3-(+&" %(" A,'+'(%I" 3D+-*%D1&" /%11" DII'*?%(B1@" C--A" ADI-O" U,-*-" /%11" >-"
(-/"?-E-1'A3-(+&"%("1D&-*"3D+-*%D1&O".-/-*"I'3A'2(?&"D(?"*D*-"-D*+,&"/%11"D&&23-"B*-D+"
%3A'*+D(I-" )'*"-1-I+*'c123%(-&I-(I-"DAA1%ID+%'(&O" 8(?%DY&"3%&&1-"A*'B*D33-"2&-&"3D(@"
')" +,-&-"3D+-*%D1&" )'*"3%&&%1-"B2%?D(I-O"U,-@" D*-"D1&'"2&-?" %("D%*I*D)+" +*D(&)'*+" &@&+-3&"
D(?" &D+-11%+-&O" #" (-/" I1D&&" ')" A,'&A,'*&" 3D@" *-E'12+%'(%d-" ?%&A1D@" +-I,('1'B@O" :A+'c"
-1-I+*'(%I"&@&+-3&"/%11" %(I*-D&%(B1@"2&-"A'1@3-*&O"W,%1-"%+" %&"?%))%I21+"+'"I'(&23-*&"ID("
-fA-I+" >-++-*" D(?" 1D*B-*" U$" A%I+2*-&G" (-/" 1%B,+%(B" &'2*I-&G" (-/" 3-?%ID1" ?%DB('&+%I"
?-E%I-&G"/,%1-"I'332(%ID+%'(")DI%1%+%-&"/%11">-"3'*-"-D&%1@"DII-&&%>1-"+,D("A-*-&-(+c?D@"
8(?%DY&"/D+-*"+DA&s"
<2A-*I'(?2I+%(B"3D+-*%D1&^"W-"D11"C('/"+,D+"+,-"I'&+"')"B-(-*D+%(B"-1-I+*%I%+@"%&",%B,O"8("
8(?%DG"D"A'1%I@"')"&2>&%?%d%(B"-1-I+*%I%+@",D&"C-A+" +,-"*D+-&"?'/(O"U,-*-"%&"D(" %(I*-D&%(B
\\"
+-(?-(I@G" )'*" &'2(?" -I'('3%I" *-D&'(&G" +'" *-?2I-" &2I," &2>&%?%-&" D(?" 1-+" +,-" A*%I-" ')"
-1-I+*%I%+@">-"3D*C-+c?-+-*3%(-?O"92+"+,-"I'(&23-*&"(D+2*D11@"/'21?"('+" 1%C-"+'"AD@" )'*"
+,-"%(-))%I%-(I%-&"%("B-(-*D+%'("')"-1-I+*%I%+@"('*")'*"+,-"1'&&-&"%("+*D(&3%&&%'(O"U,-*-"D*-"
%(I*-D&%(B" A*-&&2*-&" +'" %(+*'?2I-" >-++-*" D(?" /-11A*'E-(" +-I,('1'B%-&" +'" %3A*'E-"
-))%I%-(I@" %("A'/-*"B-(-*D+%'(O"W-",DE-G"'E-*D11G"'(-"')" +,-" 1'/-&+" %(?%ID+'*&"')"A'/-*"
B-(-*D+%'("-))%I%-(I@"%("+,"/'*1?O"
8("D??%+%'(G"'2*"+*D(&3%&&%'("D(?"?%&+*%>2+%'("1'&&-&"D*-",%B,O"<'3-G"ID11-?"h('(c"
+-I,(%ID1YG" %&" A%)-*DB-" ')" A'/-*O" 92+" " D" B''?" AD*+" ')" %+" %&" D1&'" ?2-" +'" 2&-" ')" A''*"
+-I,('1'B%-&" %(" +*D(&3%&&%'(" 1%(-"3D+-*%D1&" D(?" +*D(&)'*3-*" 3D+-*%D1&O" .'+" +,D+" " -D*1%-*"
+,-*-"/-*-(Y+"A-'A1-"/%+,"C('/1-?B-G"'*"+,D+"+,-*-"/-*-"('"+-I,('1'B%-&"+'"'E-*I'3-"+,%&"
A*'>1-3O" 92+" &'3-,'/G" 3'&+" ')" +,-&-" DE-(2-&" /-*-" ID11'2&1@" %B('*-?O" .'/" &,--*"
-I'('3%I&"%&"+DC%(B"'E-*"/%+,"A*-&&2*-"'("+,-"A'/-*"&-I+'*"+'"A-*)'*3O"<'"%+"%&"1%C-1@"+,D+"
3'&+" ')" +,-" (-/" /-11cA*'E-(" +-I,('1'B%-&" /%11" >-" 2&-?" %(" +*D(&3%&&%'(" 1%(-&" D(?"
+*D(&)'*3-*&" +'" *-?2I-" 1'&&-&O" 8(" D?ED(I-?" I'2(+*%-&G" +,-" -3A,D&%&" '(" -))%I%-(I@" D(?"
I2++%(B" ?'/(" 1'&&-&" ,D&" 1-?" +'" +,-" -fA-*%3-(+D1" 2&-" ')" &2A-*I'(?2I+%(B" " 3D+-*%D1&" D&"
/%*-&O"U,-&-"ID(">-"I'(&%?-*-?"+,-"21+%3D+-"%("+,-"2&-"')"-1-I+*'(%I&G"/%+,"A*DI+%ID11@"('"
,%(?*D(I-"+'"+,-%*")1'/G"3-D(%(B"A*DI+%ID11@"('"1'&&-&O"8(?%D",D&"%(E-&+-?"D"I'(&%?-*D>1-"
D3'2(+" %(">2%1?%(B"2A"D"&I%-(+%)%I">D&-O".'/" %+" %&"D"b2-&+%'("')"'*%-(+%(B"+,%&" &I%-(+%)%I"
/'*C" +'" I'33-*I%D1" A*'?2I+&" ')" +,-" )2+2*-O" #&" %&" +2*-" /%+," 3'&+" B-(-*%I" ,%B,"
+-I,('1'B%-&G" +,-*-" D*-" DAA1%ID+%'(&" ')" &2A-*I'(?2I+'*&" %(" +,-" 3-?%ID1" D(?" %(?2&+*%D1"
&-I+'*&"D&"/-11O"
F'/c+-3A-*D+2*-"&2A-*I'(?2I+'*&"MFU<HN"/%+,"%3A*'E-?"A-*)'*3D(I-"/%11",DE-"
+'" >-" ?-E-1'A-?O" 8(?%B-('2&" ?-E-1'A3-(+" ')" &2A-*I'(?2I+%(B" I@I1'+*'(" D(?" mc*D@"
&@(I,*'+*'(" /'21?" +DC-" A1DI-O" U,-&-" -b2%A-3+&" D*-" 2&-)21" )'*" 3-?%ID1" D(?" %(?2&+*%D1"
DAA1%ID+%'(&O" <2A-*I'(?2I+%(B" B-(-*+D+'*&" /%+," Q0$#" )%-1?G" 3DB(-+%I" &-A*D+'*&" /%+,"
)%-1?" &+*-(B+,&" B*-D+-*" +,D(" POQU" /'21?" >-" I'33-*I%D11@" >2%1+" %(" 8(?%DO"021+%" <o78J"
D**D@&"/%11">-"?-E-1'A-?")'*"3-?%ID1"?%DB('&+%I&O"
<o78J&">D&-?"'(",%B,c+-3A-*D+2*-""&2A-*I'(?2I+'*&"MRU<HN"/%11">-"?-E-1'A-?"
D(?" 2&-?" )'*" ('(c%(ED&%E-" ?%DB('&%&" ')" ?%&-D&-G" >%'3-?%ID1" %(E-&+%BD+%'(&G" .'(c"
J-&+*2I+%E-" U-&+%(B" M.JUN" ')" '%1" A%A-&G" >*%?B-&G" -+IO"RU<H&"/%11"/'*C" +,-%*"/D@" %(+'"
3%I*'/DE-"I'332(%ID+%'(G"-(-*B@"&+'*DB-"?-E%I-&G"&-(&%(B"D(?"-1-I+*'c3DB(-+%I"?-E%I-&
!KK"
)'*" )DI-" -fA1'*D+%'(G" ,%B,c&A--?" I'3A2+-*&G" -+IO" RU<H&" /%11" )DI%1%+D+-" +,-" >2%1?%(B" ')"
&3D11-*" D(?" 1-&&" -(-*B@cI'(&23%(B"0DB(-+%I"X-D&'(D(I-" 83DB%(B" M0X8N" ?-E%I-&O"S-+"
D('+,-*"?*-D3"%&"D""&2A-*I'(?2I+%(B""+*D%(O"
4'1@3-*%I"3D+-*%D1&^"[2&+"D&"-1-I+*'(%I&"D(?"A,'+'(%I&"D*-"+,-"3D*E-1&"')"3'?-*("A,@&%I&"
D(?" 3D+-*%D1&" +-I,('1'B@G" 3'?-*(" I,-3%&+*@" ,D&" B%E-(" >%*+," +'" D" /,'1-" *D(B-" ')"
A'1@3-*&O"_'*"D"&%3A1-"2(?-*&+D(?%(B"/-"3D@"1''C"D+"+,-"*D(B-"')"A1D&+%I"A*'?2I+&O"U,-"
&'1%?"A*'A-11D(+&"2&-?"%("1D2(I,"E-,%I1-&"D(?"3%&&%1-&"D*-"D1&'"D"+@A-"')"A'1@3-*G"D&"D1&'"
+,-")'D3">-?&"/-"&1--A"'("'*"+,-"&A-I%D1" &'1-&" %("'2*")''+/D*-O"4'1@3-*"D*-"D(" %(+-B*D1"
AD*+"')"3'?-*("1%)-O"U,-"A'1@3-*"%(?2&+*@"%("8(?%D"/%11""B*'/"D+"!Qc=K"A-*"I-(+"2A"+'"+,-"
@-D*"=KKK"D(?"D+"!K"A-*"I-(+"+,-*-D)+-*O"H'33'?%+@"A1D&+%I"A*'?2I+%'("/%11"%(I*-D&-")*'3"
I2**-(+"!OL"0U"+'"TOQ"0U">@ +,-"@-D*"=KKKO"51D&+'3-*&"D(?"&@(+,-+%I"*2>>-*"/%11"B*'/"D+"
+,-"-fA-(&-"')"(D+2*D1"*2>>-*O"U,-*-"/%11">-"D" 1D*B-"2&DB-"')"-I')*%-(?1@M>%'?-B*D?D>1-G"
('(c+'f%IN" A'1@3-*&O*-I@I1%(Bn*-A*'I-&&%(B" ')" /D&+-" A1D&+%I&" /%11" D&&23-" B*-D+"
&%B(%)%ID(I-O".-/-*"%(E-(+%'(&"%("A'1@3-*&"&2I,"D&"I'(?2I+%(B"A'1@3-*&"D*-"C('IC%(B"D+"
+,-" ?''*&" ')" >%'-1-I+*%I" ?-E%I-&" D(?" &@&+-3&O" U,-" )2+2*-" /%11" &--" 3D(@" -fI%+%(B"
DAA1%ID+%'(&"')"A'1@3-*&O"
.2I1-D*"3D+-*%D1&^"0'&+"')"2&",DE-"+-(?-?"+'"D&&'I%D+-"D(@+,%(B"(2I1-D*"/%+,"+,-">'3>"
D(?" +'" D" I-*+D%(" " -f+-(+" /%+," A'-*" B-(-*D+%'(G" 7&-" ')" (2I1-D*" -(-*B@" ,D&" A1DI-?"
I'(&%?-*D>1-"?-3D(?&"'("D?ED(I-?""3D+-*%D1&" +-I,('1'B%-&"D(?"&A%(c'))&" )*'3"+,-3"D*-"
E-*@"3D(@O"
F-+" 2&" *-E%-/" +,-" )2+2*-" ')" (2I1-D*" 3D+-*%D1O" U,-" .2I1-D*" 4'/-*" H'*A'*D+%'("
A1D(&"+'"&-+"2A"&-E-("3'*-"A1D(+&"')"=!KK"0W">@"+,-"@-D*"=KKK"D(?"&-E-(+--("3'*-">@"
=K=K" +'" *D%&-" +,-" +'+D1" %(&+D11-?" IDADI%+@" +'" D>'2+" =KKKK" 0WO" U,-*-" I'21?" >-" '+,-*"
-(+%+%-&"&-++%(B"2A"(2I1-D*"A'-*"A1D(+&"D&"/-11O"U,-"*-b2%*-3-(+"')"(2I1-D*"3D+-*%D1"/%11"
DII'*?%(B1@" B'" 2AO" 0'('d%+-" A*'?2I+%'(" /'21?" %(I*-D&-" +'" VKKKn\KKK" U4S" D+"
0D(DED1DC2*%I,%G"UD3%1".D?2G"D1'(-O"U,-*-"/%11">-"?-3D(?&"+'"-(,D(I-"+,-")DI%1%+%-&"+'"
3--+"+,-"%(I*-D&-?"*-b2%*-3-(+&"')"d%*I'(%23"D11'@""D(?"2*D(%23"?%'f%?-M7o=N")2-1O"U,-"
1D*B-&ID1-"A*'?2I+%'("')"*-DI+'*"B*D?-",D)(%23"'f%?-"D(?"%+&"I'(E-*&%'("+'",D)(%23"MR_N"
3-+D1"/%11" >-" +DC-(" 2A" +'" C--A" ADI-"/%+," %(I*-D&%(B" ?-3D(?&G".-/-*" d%*I'(%23"D11'@&"
/'21?" >-" ?-&%B(-?" )'*" )2-1" I1D??%(B" DAA1%ID+%'(&" /%+," >-++-*" I'**'&%'(n*D?%D+%'(
!K!"
*-&%&+D(I-O"U,-"&A%(c'))")*'3"(2I1-D*"+-I,('1'B%-&"I'21?")'*3"+,-">D&%&"')"+,-"-3-*B-(I-"
')"3Da'*"%(?2&+*%-&O"F-+""2&"&--"'(-"-fD3A1-"')"&2I,"D"&A%(c'))O"Z%*I'(%23"%&"D("%3A'*+D(+"
3D+-*%D1"2&-?"%("(2I1-D*"*-DI+'*&O":(-"')"%+&"I'3A'2(?&"2&-?"D1'(B"/%+,"D('+,-*"3D+-*%D1"
ID11-?" S++%*%23" D(?" A*'I-&&-?" %(" D" &A-I%D1" 3D((-*G" *-&21+&" %(" D" A*'?2I+" ID11-?" I2>%I"
d%*I'(%23O" U,%&" %&" ('+,%(B" >2+" +,-" D*+%)%I%D1" ?%D3'(?G" A'A21D*1@" C('/(" D&h#3-*%ID("
?%D3'(?YG"D(?"%&"2&-?"%("a-/-11-*G(!
ED910=;BD0.>!06,!,;FD7;>U" 8(?%D"ID(">-"+*21@"A*'2?"')",DE%(B"3D?-"D+"D))'*?D>1-"I'&+&"
&'3-" E-*@" ?-3D(?%(B" >%'3-?%ID1" A*'?2I+&^" >1''?" >DB&G" ,-D*+" ED1E-&" D(?" ;D1D3cXDa2"
&+-(+&G"+'"AD3-"D")-/"OR'/-E-*G"+,-"D?ED(I-3-(+"%(">%'3-?%ID1"XjJ"'*"%(?2&+*@",D&"('+"
)211@"C-A+"ADI-"/%+,"+,-"-E-*cB*'/%(B"?-3D(?&O+,-*-)'*-G"&-E-*D1"%(?2&+*%-&"/%11">-"&-+"2A"
%("+,-"I'2(+*@"/%+,"%3A'*+-?"+-I,('1'B@")'*"+,-"3D(2)DI+2*-"')"3-?%ID1"?-E%I-&O"
4'1@3-*&G"I-*D3%I&"D(?"3-+D1"D11'@"%(?2&+*%-&"/'21?"2AB*D?-"+,-3&-1E-&"+'"A*'?2I-"+,-"
*-b2%*-?" >%'3D+-*%D1&O0-?%ID1" D(?" ,-D1+," ID*-" &-I+'*&" /%11" 2(?-*B'" D" 3Da'*"
+*D(&)'*3D+%'(" /%+," %(I*-D&-?" DED%1D>%1%+@" ')" D*+%)%I%D1" '*BD(&G>1''?" D(?" %3A*'E-?"
?%DB'(%&+%I"?-E%I-&O"_'*"-fD3A1-G"%3A1D(+D+%'("')"D*+%)%I%D1",23D("AD*+&"/%11">-"A'&&%>1-c"
+,-" ,-D*+G" +,-" AD(I*-D&" G" +,-" 12(B&G" D(?" C%?(-@&O" #*+%)%I%D1" >1''?" /%11" >-" DED%1D>1-" )'*"
+*D(&)2&%'("+'"1-2CD-3%D"AD+%-(+&O"9'(-G",%A"D(?"+%&&2-"*-A1DI-3-(+&"/%11">-"A'&&%>1-")'*"
DII%?-(+" E%I+%3&OR-D*+" AD+%-(+&" ID(" *-I-%E-" ,-D*+" ED1E-&" G" D*+%)%I%D1" ,-D*+&" D(?" '+,-*"
%3A1D(+&O"U,-"*-b2%*-3-(+&"')">%'3D+-*%D1&"/'21?"DII'*?%(B1@"B'"2AO"U%&&2-"-(B%(--*%(B"
/%11" D%3" D+" *-A1DI%(B" +,-" D))-I+-?" +%&&2-" %(" D" (D+2*D1" /D@OU,-" I,D11-(B-" %&" +'" &,DA-"
A*'?2I+&G" ?-E%I-&" D(?" &@&+-3&" %(" '*?-*" +'"3DC-" +,-3" D))'*?D>1-" +'" D" 1D*B-" (23>-*" ')"
8(?%D(&O"8+"%&"('+"3-*-1@"D"3D++-*"')"I'&+"-(B%(--*%(BO"8(('ED+%E-"+-I,('1'B%ID1"%(A2+&"D*-"
ID11-?")'*O!
3-BJ07;! ;6<D6;;BD6<U" <'" )D*" /-" ?%&I2&&-?" 3D+-*%D1&G" D11'@&" D(?" I'3A'&%+-&O" #" (-/"
B-(-*%I" D*-D" ')" +-I,('1'B@" %&" -3-*B%(B" %(" D" 3Da'*" /D@" ?2*%(B" +,-" AD&+" ?-ID?-O" U,%&"
%(E'1E-&"+*-D+3-(+"')""D"3-+D1"'*"3D+-*%D1"/%+,"D("-f+*-3-1@"+,%("1D@-*"')"D('+,-*"
3D+-*%D1" +'"B-+",-">-(-)%+&"')" >'+,"3D+-*%D1&s"U,-"U-)1'(" "I'D+%(B"')"D" )*@%(B"AD(" %&"D"
&%3A1-" -fD3A1-O"0'*-"&'A,%&+%ID+-?" "D+'3%I" 1-E-1"I'&+%(B&"D*-"2&-?" +'"*-?2I-" +,-"/-D*"
D(?"+-D*"')"+''1&"D(?"3'E%(B"AD*+&"') 3DI,%(-*@O"J%D3'(?"I'D+%(B&"ID(">-"3D?-"'("&'3-"
3D+-*%D1&O"<%3A1@"&+D+-?G"+,-")2+2*-",'1?&"D"A*'3%&-"')"D"I2&+'3-*"?-3D(?%(B"D(?"B-++%(B"
D" &A-I%)%I" I'3>%(D+%'(" ')" ED*%'2&G" ')+-(" I'(+*D?%I+'*@" A-*)'3D(I-" AD*D3-+-*&^" ')" 1%B,+
!K="
/-%B,+G" 1-D&+" I'**'&%E%+@G" >%'I'3AD+%>%1%+@" '*" 1-D&+" I'&+O" U,-*-" D*-" &-E-*D1" +-I,('1'B%-&"
1%C-"+,-*3D1"&A*D@%(B"'*"A1D&3D"&A*D@%(B"'*"1D&-*"+*-D+3-(+O"#"1D&-*"&2*)DI-"-(B%(--*%(B"
I-(+-*",D&">--("-&+D>1%&,-?"D+" +,-"J-)-(I-"0-+D112*B%ID1"X-&-D*I,"FD>'*D+'*@" MJ0XFN"
ID3A2&" D+" R@?-*D>D?O" .-/" 3-+,'?&" D*-" >-%(B" %(E-(+-?O" 8+" %&" )'*+2(D+-" +,D+" 8(?%D" ,D&"
B''?"XjJ"&+*-(B+,&"%("+,%&"D*-DO"#")-/"8(?%D("%(?2&+*%-&",DE-")'*B-?"AD*+(-*&,%A&"/%+,"
B1'>D1"+-I,('1'B@"1-D?-*&"D(?"8(?%D("%(&+%+2+%'(&G"+'"+DC-"D"1-D?%(B"*'1-"I'33-*I%D11@O"W-"
>-1%-E-"8(?%D"ID("-3-*B-"D&"D(" %3A'*+D(+"A1D@-*"D+"+,-"I'33-*I%D1" 1-E-1" %("+,-"2&-"D(?"
B-(-*D+%'("')"&2*)DI-"-(B%(--*%(B"+-I,('1'B%-&O!
"6F;>=1;6=>^"
8("+,-"-D*1%-*"I,DA+-*"'("DB*%I21+2*-"D(?"DB*'c)''?"A*'I-&&%(BG" +,-*-"D*-" &2BB-&+%'(&" )'*"
3D(@"3-D&2*-&"*D(B%(B")*'3"-?2ID+%'(" D(?"&-(&%+%dD+%'("')")D*3-*&"+'"&2II-&&-&"/%+,%("
+,-" I'2(+*@" %+&-1)" +'" >*%(B%(B" %(" (-/" DB*%I21+2*D1" A*DI+%I-&G" (-/" ,@>*%?" &--?&" D(?"
-&+D>1%&,3-(+" ')" I'1?" I,D%(" D(?" )''?" A*'I-&&%(B" 2(%+&O" W,D+" D>'2+" %(E-&+3-(+&e" W-"
>-1%-E-"+,D+"32I,"')"+,-"B'E-*(3-(+c1-E-1"%(E-&+3-(+"M&2I,"D&"A2>1%I"%()'*3D+%'(G"
#/D*-(-&&"B-(-*D+%'("D(?"I'E-*%(B"*%&C&" )'*" +,-"-D*1@"-fA-*%3-(+&N"ID(">-"?'(-"/%+,%("
+,-"-f%&+%(B">2?B-+&"')"+,-"H-(+*D1"D(?"&+D+-"B'E-*(3-(+&O"4-*,DA&"D"&--?")2(?"+'"ID+D1@d-"
DI+%'(&"ID(">-"&A-I%D11@"I*-D+-?"+'">*-DC"+,-"h%I-YO"02I,"')"+,-"'+,-*"%(E-&+3-(+&"ID(">-"
&A-I%D11@"I*-D+-?"+'G"+,-&-"%(E-&+3-(+&"/%11")1'/"D&"+,-@"%(E'1E-"&-E-*D1"&3D11c"+'"3-?%23"
k1-E-1"?-I-(+*D1%d-?"DI+%'(&O"_'*"%+-3&"1%C-"I'1?"I,D%(&"D(?"ID**%-*&"-E-(")'*-%B("
%(E-&+3-(+"I'21?">-"D++*DI+-?O"U,-"3D%("-))'*+"%&"+'"&,-?"+,-"A*-&-(+"&+D+-"')"1-+,D*B@"D(?"
I@(%I%&3"+,D+"h('+,%(B"ID(">-"?'(-"%("8(?%DG"('+,%(B"ID("I,D(B-"9%,D*"'*"74YOW-",DE-"+'"
I'3>D+" +,%&" +*-(?"D(?" +*D(&)'*3" +,-"(-B1-I+-?"D*-D&O" 8(E-&+3-(+" 1-E-1&" *-b2%*-?" )'*" +,-"
3D+-*%D1&"&-I+'*"D*-"')"D"?%))-*-(+"I1D&&O"#&"?-&I*%>-?"-D*1%-*G"3D(@"?-I-(+*D1%d-?G"&3D11"
D(?" 3-?%23" 1-E-1&" ')" %(E-&+3-(+&" /'21?" >-" +,-" ?'3%(D(+" AD++-*(" %(" +,-" DB*%I21+2*D1"
&-I+'*O"92+")'*"A*'?2I+%'("')"&+--1"'*"D123%(%23"'*"+%+D(%23"G",2B-"%(E-&+3-(+&"*2((%(B"+'"
&-E-*D1",2(?*-?"I*'*-&"')"*2A--&O"U,-"B-&+D+%'("A-*%'?")'*"*-+2*("'("%(E-&+3-(+&"/'21?">-"
32I,"b2%IC-*O"_'*"3D+-*%D1"A*'I-&&%(B"+-I,('1'B%-&" 1%C-"&2*)DI-"-(B%(--*%(B"G" +,-*-"ID("
>-"?*D3D+%I"*-+2*("'("%(E-&+3-(+&"-E-(")'*"%(E-&+3-(+&"2(?-*"+-("I*'*-&"')"*2A--&"O"8(?%D"
,D&" +'" )%(?" 3-+,'?&" ')" D++*DI+%(B" 1D*B-c&ID1-" %(E-&+3-(+&" )'*" A*'?2I+%'(" ')" &+--1G"
D123%(%23"D(?"+%+D(%23"D&"/-11O_'*"-fD3A1-G"+,-"D((2D1"/'*1?"A*'?2I+%'("%("&+--1"%&"('/
!KP"
LQK"3%11%'("+'((-&"D(?"%&"-fA-I+-?"+'">-"\VK"3%11%'("+'(-&">@"=K!KO"8+"3D@"A-*,DA&"*%&-"
+'"!=KK"3%11%'("+'((-&">@"=K=KO"8(?%DY&"I2**-(+"&+--1"A*'?2I+%'("%&"=T"3%11%'("+'((-&"D(?"
%&"1%C-1@"+'">-"]K"3%11%'("+'((-&">@"=K!KO"H'3AD*-"+,%&"/%+,"I,%(DY&"A*-&-(+"A*'?2I+%'("')"
D*'2(?" !KK" 3%11%'(" +'((-&" D(?" &'2+," C'*-DY&" PK" 3%11%'(" +'((-&s[DAD(G" +,-" 7<#" D(?"
X2&&%D"D*-"+,-*-"+''"D&"B%D(+"&+--1"A*'?2I-*&O"U,-" %(E-&+3-(+"*-b2%*-?" )'*"'(-c"3%11%'(c"
+'((-"&+--1"A1D(+"'("D"6*--()%-1?"&%+-"%&"D>'2+"X&OPKKK"I*'*-&O"9-&%?-&G"('(-"')"+,-"8(?%D("
&+--1" %(?2&+*@"'*"&+--1"XjJ"'2+)%+&",DE-"A*'?2I-?"&'3-+,%(B"E-*@"2(%b2-G"/,%I,"/'21?"
('+" a2&+" 3DC-" 2&" A*'2?" >2+" /'21?" 3DC-" &+--1" >-++-*" D(?" I,-DA-*OR'/-E-*G" /,-(" /-"
I'(&%?-*" &'3-"')" +,-"?-+D%1&"D>'2+" +,-" +@A-&"')" +D1-(+" %(" +,-" >2&%(-&&"D(?" +-I,('1'B%ID1"
D*-D&G"/-">-1%-E-"/-"?'"('+"(--?"+'">-"A-&&%3%&+%IO"U,-"8(?%D(">2&%(-&&"D(?"+-I,('1'B%ID1"
I'332(%+@" ,D&" +'" 1-D*(" +'" +,%(C" %(('ED+%E-1@^" )'*" -fD3A1-G" DE'%?" 6*--()%-1?" &%+-&G"
2AB*D?-"+,-"-f%&+%(B"'(-&G"&I*DA"'>&'1-+-"'(-&G"1-D*("+,-"*-1-ED(+")'*-%B("+-I,('1'B%-&G"B'"
%(" )'*" )'*-%B(" %(E-&+3-(+" '*" A*-)-*D>1@" a'%(+" E-(+2*-&" %(" +,-" I'2(+*@" '*" D>*'D?G"
I'(I-(+*D+-"'("B%E%(B">-++-*"A*'?2I+&"+'"+,-"B*'/%(B"?'3-&+%I"D(?"/'*1?"I'(&23-*&O"
W,%1-"?'%(B"D11"+,-&-"%("+,-"&,'*+"+-*3G"/-"&,'21?"('+"&+'A"D+"+,-")%*&+"&2II-&&"D(?"&+DB(D+-"
+,-*-D)+-*"D&"/-"?%?"D)+-*"'2*"%(+%D1"&2II-&&-&"%("&+--1"A1D(+&G"-&A-I%D11@"D)+-*"X'2*C-1DO":2*"
+-I,('1'B%ID1" I'332(%+@" %(" %(?2&+*@" D(?" %(&+%+2+%'(&" ID(" >-" DI+%ED+-" +'" ,-1A" +,-" >%B" D(?"
&3D11c&%d-?"&+--1"A*'?2I-*&^"D11"DI+%'(&"+'"%3A*'E-"+,-"-))%I%-(I@"')"'A-*D+%'(&G"D11"DI+%'(&"+'"
%(+*'?2I-" (-/" A*'?2I+&g" (-/" A-*)'*3D(I-" )-D+2*-&O" 5E-(" D3%?&+" +,-" )%-*I-" I'3A-+%+%'("
>-+/--("'2*" I'3AD(%-&G" +,-@" ID(" -E'1E-" I'(&'*+%D"3'?-" +'" &,D*-" +,-%*" C('/1-?B-" >D&-" +'"
-(,D(I-"%(?%DY&">2&%(-&&"D>*'D?O"8("D??%+%'("+'"+,-"+'+D1"E'123-"')"A*'?2I+%'("G"8(?%D"ID("
D1&'"3DC-"%+&"3D*C"%("I-*+D%("&A-I%D1"(%I,-"3D*C-+&"/,-*-"ED12-"D??%+%'("%&"3'*-O"8(?%DG"/%+,"
D11"+,-"D>'E-"DI+%'(&G",D&"+'"D%3""+'">-"D"+'A"&+--1"A*'?2I-*"%("+,-"/'*1?">@"=K=KO8+&"&+D+2&"ID("
>-"32I,",%B,-*"+,D("/,D+" %+"%&"+'?D@O"8"I'(+%(2-"+'",'A-"+,D+"%(?%D("3D+-*%D1"&I%-(+%&+&"&,D11"
%(+*'?2I-" D(" 8(?%D(" D11'@" +'" +,-" /'*1?OU,-" A%I+2*-" I'(I-*(%(B" +%+D(%23" 3D@" DAA-D*" 32I,"
>1-DC-*O" A*-&-(+" D((2D1" /'*1?" A*'?2I+%'(" %&" D*'2(?" KO!3%11%'(" +'((-&" M7<#c=K" A-*"
I-(+GX2&&%D("D(?"H8<"I'2(+*%-&cQ="A-*"I-(+G"[DAD(c=]"A-*"I-(+NO"8(?%D"%&"a2&+"D>'2+"!KK"+'((-&"
A-*"@-D*G"3'&+1@"')"+,-"3%11-?"A*'?2I+&">D&-?"'("%3A'*+-?"&A'(B-"%("D"I'2(+*@"/,%I,"%&"+'A&"
%("+%+D(%23"'*-&s"<'3-"-&+%3D+-&"D*-"+,D+"8(?%D"ID("+D*B-+")'*"D("D((2D1"A*'?2I+%'("')"QKKK"
+'((-&O"#)+-*"D>'2+"D"?-ID?-"')"?%&I2&&%'(&"D(?"?-1D@&G"D"(-/"A1D(+" +'"A*'?2I-"TKK"+'((-&"
+%+D(%23"&A'(B-")*'3"'2*"'/("'*-"%&">-%(B""A1D((-?"+'">-"&-+"2A"D+"4D1D@CD@D1"%("&'2+,"8(?%DO
!KT"
8+"3D@"I'&+"D>'2+"X&O!KK"I*'*-&O"U,-*-"D*-"3D(@"A'+-(+%D1"2&*-&"%("8(?%D")'*"+%+D(%23"%("+,-"
A*%ED+-" &-I+'*" D&" /-11O" W-" >-1%-E-" +,%&" &%+2D+%'(" I'(I-*(%(B" +%+D(%23" ,D&" +'" I,D(B-O" W-"
2(?-*&+D(?" +,D+" +,-" J-AD*+3-(+" ')" D+'3%I" -(-*B@" D(?" JXJ:" D*-" A1D((%(B" +'" &-+" 2A" D"
+%+D(%23" &A'(B-" A*'?2I+%'(" A1D(+O" 0D(@" '+,-*&" 3D@" )'11'/" &2%+O" U,-&-" D*-" ?-+D%1-?"
+-I,('1'B%ID1" D(?" >2&%(-&&" ?-I%&%'(&" /,%I," /-" /'21?" 1%C-" " +'" 1-DE-" +'" D?E-(+2*'2&" D(?"
-(+*-A*-(-2*%D1"8(?%D(&O"92+"'2*"&+*-(B+,&"%("+%+D(%23"ID(",-1A"2&"%("3D(@"'+,-*">2&%(-&&"D&"
/-11O"_'*"-fD3A1-G"%+"ID("3DC-"8(?%D"D"A*-)-**-?"A*'?2I+%'(">D&-")'*"&-E-*D1"/'*1?"I,-3%ID1"
A1D(+&O"83DB%(-"+,-"1-E-1"')"(-/"-3A1'@3-(+"&2I,"A'&&%>%1%+%-&"ID(">*%(B"%(s"F-+"2&"1-D*("+'"
+,%(C" >%BO" W,D+" %&" +,-" B'E-*(3-(+Y&" *'1-" %(" +,%&e" _%*&+" ')" D11" +'" A*'E%?-" D(" -(D>1%(B"
-(E%*'(3-(+"D(?"*-3'E-"D"(23>-*"')">2*-D2I*D+%I",%(?*D(I-&O"#11'/"(-/"-(+%+%-&"+'"I'3-"%("
/%+,'2+"hDAA1@c/D%+Y"3'?-O"_*--"+,-"+-I,(%ID1"DB-(I%-&"+'"1'D("+,-%*"-fA-*+&"'("D"
F'(Bc+-*3" >D&%&" +'" 8(?%D(" %(?2&+*%-&O"R-1A" %(?2&+*@c'*%-(+-?" *-&-D*I," '2+"/%+," ED*%'2&"
?-E-1'A3-(+D1")2(?&G"/,%I,"D*-"3D*B%(D11@"2+%1%d-?"'*"2&-?")'*"A2*I,D&-"')"-b2%A3-(+O!
I@;!F%>D96!06,!07=D96>"
U'" DE'%?" +''" 32I," ')" +-I,(%ID1" ?%&I2&&%'(&G" /-" ,DE-" '(1@" A*'E%?-?" B1%3A&-&" ')"
A'&&%>%1%+%-&"%("+,%*+--("D*-D&"')"3'?-*("3D+-*%D1&O"U'")2*+,-*")DI%1%+D+-"2(?-*&+D(?%(B"/-"
,DE-"+*%-?"+'"-(IDA&21D+-"+,-"E%&%'("%(")'2*")%B2*-&")'*"&+--1G"D123%(23G"
U%+D(%23G" D(?" *D*-" -D*+," M)%B2*-&" QO!G" QO=G" QOPG" QOTNO" U,-" 1-)+" &%?-" B%E-&" +,-" A*-&-(+"
&I-(D*%'" D(?" +,-" *%B,+" &%?-" B%E-&" +,-" )2+2*-" '(-O"U,-" I-(+-*" >'f" ,%B,1%B,+&" D" )-/" I'*-"
+-I,('1'B%-&"+,D+"(--?&"+'"3D&+-*O"8(?%D"ID(">-"'(-"')"+,-"C-@"1-D?-*&"%("D11"+,-&-"&-I+'*&"
I'33-*I%D11@" D(?" +-I,('1'B%ID11@O" 8+" /%11" B-(-*D+-" 1'+&" ')" /-D1+," )'*" +,-" (D+%'(" D(?"
-3A1'@3-(+"')",%B,1@"&C%11-?"A-*&'((-1O"5fA'*+"-D*(%(B&"/%11">-"&2>&+D(+%D1O"
8(?%D(" I'3AD(%-&" 3D@" &-+" 2A" E-(+2*-&" D>*'D?" %(" 3D(@" ')" +,-&-" D*-D&" D(?" -fA'*+"
+-I,('1'B%-&"D&"/-11O"<'3-"&,'*+c+-*3"DI+%'(&"*-b2%*-"%(E-&+3-(+&">@"+,-"B'E-*(3-(+"D(?"
A*%ED+-"&-I+'*O"U'"D++*DI+"+,-"A*%ED+-"&-I+'*G"I-*+D%("A'1%I@"I,D(B-&"D*-"*-b2%*-?"
<2I," D&" A*'E%?%(B" +,-" &-I+'*"/%+," 1'(Bc+-*3"?-E-1'A3-(+" D(?" I'33-*I%D1" I'(+*DI+&" %("
&+*D+-B%I"&-I+'*&"D(?"D11'/%(B"%+"+,-"2&-"')"-fA-*+%&-"DED%1D>1-"%("+,-"(D+%'(D1"1D>'*D+'*%-&"
%("D"&A--?@"3D((-*"D(?"'("-D&@"+-*3&O
!KQ
!K]
!KL
!KV
!K\"
W-""*-b2%*-"+,-"/%11" +'"+DC-"DI+%'("D(?"+'"I'33%+"'2*&-1E-&"+'">-"'(-"')" +,-"C-@"/'*1?"
1-D?-*&" D+" 1-D&+" %(" +,-&-" " +,%*+--("3D+-*%D1&" D*-D&"/%+,%(" D" ?-ID?-" O:(I-" +,-*-" %&" D"/%11"
G3%&&%'("')"8(?%D("'*%B%("/,'",DE-"&-+"2A"'*"*2("B%D(+"3-+D1"I'3AD(%-&"D*'2(?"+,-"/'*1?O"
8(?%D" ID(" B-(-*D+-" 3D(@" 3'*-" &2I," -(+*-A*-(-2*&" D(?" ,-1A" +,-3" +'" -&+D>1%&," &2I,"
-(?-DE'*&" '(" +,-" (D+%E-" &'%1OU,-" E%&%'(" ID(" >-" -D&%1@" /%+,%(" '2*" *-DI,O" 0D+-*%D1&" D*-"
I*2I%D1"+'"&-E-*D1"'+,-*"&-I+'*&"+,D+")'11'/^"-(B%(--*%(B"%(?2&+*%-&g"
51-I+*'(%I&" D(?" I'332(%ID+%'(&g" I,-3%ID1&g" >%'+-I,('1'B@gD(?" &+*D+-B%I" %(?2&+*%-&"
O<+*-(B+,&" %(" 3D+-*%D1" +-I,('1'B%-&" D*-" I*2I%D1" )'*" +,-" DB*'c)''?" A*'I-&&%(B" D(?"
DB*%I21+2*-"&-I+'*&"I'E-*-?""-D*1%-*O"8)"8(?%D"1'&-&"'2+"'("+,%&"I*2I%D1"3D+-*%D1&")*'(+G"+,-("
+,-")2+2*-"')"3D(@"&-I+'*&"/'21?">-"?'2>+)21O"8)"/-"3D&+-*"%+"G/-",DE-"D">*%B,+")2+2*-")'*"
'2*"A-'A1-O
!!K!
?@0A=;B!c!
K+$21'&)!V605.*#1$.!&60!=5#!I1-)-71'&)!4$&)*+!
4(.#1()-+:(!?B%()(!#,!$%#,!4(.#1()-+:(!$*!2(!'*;+0?!
a;)!6-,$()!%#6,(.'!%-,!G*3';..3!C-/(+!;<*+!`#6!$%(!2*+0,!*'!:)(-$#*+b!
`(!#,!2*;+0!B#$%!;,!-..!'*)!(1()="cXD>%(?*D(D+,"UDB'*-"
U,-"2&-"')"I,-3%ID1&"D(?"I,-3%ID1"A*'?2I+&"D))-I+&"'2*"1%E-&"%("&-E-*D1"/D@&G"
?%*-I+" D(?" %(?%*-I+O" _-*+%1%d-*&" D(?" A-&+%I%?-&" D*-" (--?-?" )'*" )''?" &-I2*%+@OJ*2B&" D(?"
A,D*3DI-2+%ID1&" *-1%-E-" AD%(" D(?" &DE-" 3%11%'(" ')" 1%E-&O" A-+*'1G" ?%-&-1G(D+2*D1" BD&" D(?"
A1D&+%I",DE-">-I'3-"D("-&&-(+%D1"AD*+"')"3'?-*("1%E%(BO"U,-*-"D*-"&-E-*D1",'2&-,'1?"%+-3&"
/-" +DC-" )'*" B*D(+-?" O&D1+G&'DA&G?-+-*B-(+&" GI'&3-+%I&G>-E-*DB-&GADIC-?"
)''?&GAD%(+&G+-f+%1-&G1-D+,-*" B''?&G>''C&G(-/&ADA-*&GD(?" &'" '(O0'?-*(" I,-3%ID1"
-(B%(--*%(B")DI%1%+%-&"+,-&-"I'3)'*+&"D(?"+''1&")'*"C('/1-?B-"/,%I,"C--A"%3A*'E%(B"+,-"
b2D1%+@" ')" 1%)-OD+" +,-" &D3-" +%3-G+,-" 3D(2)DI+2*-" ')" +,-&-" I,-3%ID1&" D1&'" I*-D+-&" +,-"
I,D11-(B-"')"-(&2*%(B"D"I1-D("D(?",-D1+,@"-(E%*'(3-(+O!
?@;1D70. [19,;B6!,;196>H"
W-11" G/,D+" D>'2+" D%*" A'112+%'(e/,D+" D>'2+" " &'%1&" ?-B*D?-?" >@"
&D1%(D+%'(e/,D+" D>'2+" " +,-" I,-3%ID1"5))12-(+&"/,%I," ,DE-"A'112+-?"'2*" >-D2+%)21" *%E-*&"
D(?"1DC-&G"D(?"""-(?D(B-*-?"""3D*%(-"1%)-e/,D+"D>'2+"ID*I%('B-(%I"I,-3%ID1&"D(?"+,-">D("
'(" +,-&-" >@" ?-E-1'A-?" I'2(+*%-&" M+'" >-" )'11'/-?" 1D+-*" >@" +,-" ?-E-1'A%(B" I'2(+*%-&Ne8("
E%-/" ')" +,-" 9,'AD1" BD&" +*DB-?@G/-" (--?" +'" *-3-3>-*" ,'/" I,-3%ID1" A'112+%'(" ID(" >-"
*-&A'(&%>1-")'*"-('3'2&"1'&&"')",23D("1%)-O"
#&%?-")*'3 +,-"?D3DB-"ID2&-?">@"&2I,"DII%?-(+&"%&"
+,-"?-1%>-*D+-"2&-"')"I,-3%ID1"-(B%(--*%(B"+'"/*-DC"?-&+*2I+%'(O8+"/D&"3'?-*("I,-3%ID1"
-(B%(--*%(B" +,D+" BDE-" 2&" +,-" (DAD13" >'3>" G2&-?" -f+-(&%E-1@" %(" +,-" $%-+(D3" /D*OU,-"
+,*-D+"')"3'*-"?*-D?)21" I,-3%ID1"/-DA'(&" ,D&" >--(" 1''3%(B"'E-*" ,23D(%+@" )'*" D" 1'(B"
+%3-^%+" %&" '(1@" *-I-(+1@" +,D+" D" +*-D+@" )'*" >D((%(B" I,-3%ID1" /-DA'(&" ,D&" >--(
!!!"
&%B(-?OR'/-E-*"/-"&A-D*,-D?-?"D"3'E-3-(+"+'"-1%3%(D+-"&2I,"/-DA'(&"D(?"8(?%D"%&"+,-"
A%'(--*%(B"&%B(D+'*@"+'"D"+*-D+@"+'"+,%&"A2*A'&-"O/-"D*-"/%+,"+,-"%(+-*(D+%'(D1"I'332(%+@"
'("+,%&"/,-*-"+,-*-"%&"('"?%&I*%3%(D+%'(">-+/--("(D+%'("(D+%'(&G%("I'(+*D&+"+'"+,-"ID&-"')"
(2I1-D*"/-DA'(&"OF-+"2&"D1&'"('+")'*B-+"+,D+"+,-"?-D?1@">'3>&"2&-?">@"+-**'*%&+&"D*-"+,-"
A*'?2I+&"')"3'?-*(" I,-3%&+*@" D&&%&+-?" >@"321+%c?%&I%A1%(D*@" +-I,('1'B%-&" ')" ADICDB%(B"
G-1-I+*'(%I&"D(?"I'332(%ID+%'(&"GD3'(B"'+,-*&O"
S-&G/-"/D(+" +'" *-A-D+" +,%&" DBD%(^a2&+" D&" %(" -E-*@" '+,-*" )%-1?" ')" ,23D(" DI+%E%+@"
G&I%-(I-"D(?"+-I,('1'B@"D1&'"ID(">-"2&-?")'*"/*'(B"A2*A'&-O"#II%?-(+&"ID("'II2*"D&"'2*"
C('/1-?B-"%&"D("'2+I'3-"')"+*%D1&"D(?"I'**-I+-?"-**'*&O92+G>D**%(B"+,-"'IID&%'(D1"ID&-"')"
1DIC"')"-+,%I&"'("+,-"AD*+"')"&I%-(+%&+"'*">2&%(-&&"B*'2AG%)"+,-"%11"-))-I+&"D*-"D+"+,-"+%3-"')"
?-E-1'A3-(+')" D" A*'?2I+" '*" D" A*'I-&&G" +,D+" DI+%E%+@" /%11" >-" D>D(?'(-?O" A*-&-(+" k?D@"
+-I,('1'B%-&"D11'/")'*"3D(@"DII-1-*D+-?"D(?"&%321D+-?"+-&+&OU,-")DI+"')"+,-"3D++-*"%&"+,D+"
D+"('"+%3-"%(",23D(",%&+'*@",DE-"+,-">-(-)%+&"')"C('/1-?B-">--("D&""/%?-1@"DED%1D>1-"+'"D"
1D*B-"(23>-*"')"A-*&'(&"D&"%("&-I'(?",D1)"')"+,-"+/-(+%-+,"I-(+2*@O"/,-("/-"1''C">DIC"D+"
A*-E%'2&" I-(+2*%-&" G%+" %&" &+*%C%(B" +,D+" +,-" >-(-)%+&" ')" (-/" I*-D+%'(&" G%(E-(+%'(&" D(?"
+,-*DA%-&" M%(" D*+" G1%+-*D+2*-" G&I%-(I-G3-?%I%(-G%(" +-I,(%b2-&" D(?" +-I,('1'B%-&" N/-*-"
DED%1D>1-"'(1@"+'"D"A*%E%1-B-?" )-/O"U,-*-"/-*-"&-E-*D1"-I'('3%I"I'(&+*D%(+&^"A*'?2I+%'("
1-E-1&"D(?"A*'?2I+%'("+-I,(%b2-&"/-*-"&2I,"+,D+" +,-"D3'2(+"')" h&2*A12&Y"/-D1+,"I*-D+-?"
/D&"('"B*-D+O"U,-*-)'*-G"+,-"B''?"+,%(B&"')"1%)-"/-*-"I'()%(-?"+'"+,-"*%I,"D(?"A'/-*)21O#"
ED&+"3Da'*%+@"')"A-'A1-"/'*C-?"2(I-D&%(B1@"+'"I*-D+-"+,-""&3D11"&2*A12&OU,%&"/D&"+*2-"('+"
'(1@")'*"8(?%DG>2+"D11"'E-*"+,-"/'*1?O"8("-D*1@"+%3-&",-"D*+%&%D(&Y"&C%%1&"/-*-"A*-&-*E-?">@"
+,-%*"B2%1?&"'*",-1?"D&"D")D3%1@"&-I*-+OU,-"A*'?2I+&"+,D+"+,-@"3D(2)DI+2*-?"/-*-G,'/-E-*"
&'1?"'E-*"D"1D*B-"B-'B*DA,%I"*-B%'(O"#"I*'&&c)-*+%1%dD+%'("')"ED*%'2&"&C%%1&"D(?"?%&I%A1%(-&"
+''C"A1DI-O8+"%&"+,%&"*%I,",-*%+DB-">2%1?"2A"'E-*"&-E-*D1"I'2(+*%-&G+,D+",D&"1-?"+'"+,-"'?-*("
+-I,('1'B%ID1" *-E'12+%'(O92%1%?%(B" '(" AD&+" &2II-&&-&GD(?" )D%12*-&G,23D(%+@" -(+-*-?" +,-"
/-(+%-+,"I-(+2*@"/%+,"D"B*-D+1@"-(,D(I-?"C('/1-?B-"A''1O"8+"/D&"+,-"DB-"')"+,-"%(+-*(D1"
I'3>2&+%'("-(B%(-OU,%&" %(E-(+%'("3D*C-?"D"3Da'*"&+-A"+'/D*?&"3D&&"A*'?2I+%'(O.-/-*"
%(E-(+%'(&" %(E'E-?" 3'*-" I'3A1-f" +-I,('1'B%-&G" A*'I-&&" D(?" A*'?2I+%'(" 3-+,'?&OU,-@"
*-b2%*-?"3D&&" A*'?2I+%'(" +'" ?-*%E-" +,-" D?ED(+DB-&" ')" -I'('3%-&" ')" &ID1-OU,-" h&2*A12&Y"
/-D1+,"I*-D+-?"/D&"B*-D+"-('2B,"+'"&,D*-"/%+,"3'*-"D(?"3'*-"A-'A1-"/,'"/-*-"%(E'1E-?"
%(" +,-" A*'?2I+%'(" A*'I-&&OU,-" 3D&&" kA*'?2I-?" B''?&" I'21?" *-DI," +,-" A-'A1-" D+" D(
!!="
))'*?D>1-"A*%I-g+,-" *DA%?"B*'/+,"D1&'"I*-D+-?"3'*-" a'>&" G&D1D*%-&"-(D>1-?"A-'A1-" +'">2@"
3'*-" I'33'?%+%-&O_'*" -fD3A1-GD))'*?D>1-" >%I@I1-&" %3A*'E-?" +,-" 3'>%1%+@" ')" *2*D1"
A-'A1-OA-'A1-" I'21?" &-11" D(?" >2@" B''?&" /%+," B*-D+" -D&-G+,2&" I*-D+%(B" -I'('3%I"
'AA'*+2(%+%-&O0D(@" E%11DB-*&" B'" +'" /'*C" >@" I@I1-OU,-" +*D(&%&+'*" *D?%'" A*'E%?-&"
%()'*3D+%'("D(?"-(+-*+D%(3-(+"+'"3%11%'(&O#+"D("-E-("3'*-"A*'&D%I" 1-E-1G3D&&cA*'?2I-?"
I2A&"D(?"&D2I-*&"-(D>1-"3D(@"+,'2&D(?&"+'"&-+"2A"&3D11" +-D"&,'A&" %("-E-*@"(''C"')" +,-"
I'2(+*@OU,2&" G%(" &,'*+G%&" D" B1%3A&-"')",'/" %3A*'E-?" +-I,('1'B%-&" ,DE-",-1A-?" D(?" D*-"
,-1A%(B" 1D*B-"3D&&-&"')"A-'A1-OH,-3%ID1" +-I,('1'B@" %&"'(-" &2I,"3-D(&" +'" %3A*'E-" +,-"
b2D1%+@" ')" 1%)-O;('/1-?B-" %(" +,%&" )%-1?" ,D&" %(I*-D&-?" +'" +,-" A'%(+" /,-*-" I,-3%ID1"
+-I,('1'B%-&" ID(" >-" 3D?-" hI1-D(YO#BD%(" +,%&" >DICB*'2(?G1-+" 2&" 1''C" D+" +,-" I,-3%ID1"
&-I+'*"')"U-I,('1'B@"$%&%'("=K=KOH,-3%ID1"%(?2&+*%-&"D(?"'2*">%'1'B%ID1"/-D1+,"
H,-3%ID1" %(?2&+*@c-I'('3@" 1%(CDB-&"U,-"?-E-1'A3-(+" AD++-*(" ')" +,-" I,-3%ID1" A*'I-&&"
%(?2&+*@"ID(">-"?%E%?-?"%(+'"+,*--"A,D&-&^"A-(-+*D+%'(G"I'(&'1%?D+%'(G"D(?"&A-I%D1%+@O"
8(" +,-" A-(-+*D+%'(" A,D&-G" +,-" I,-3%ID1" A*'?2I+&" /,%I," A*'+-I+" I*'A&" D(?" %3A*'E-"
,-D1+," MDB*'cA*'?2I+&G" )-*+%1%d-*&" D(?" A,D*3DI-2+%ID1&NG" I'(+*%>2+-?" +'" -I'('3%I" D(?"
&'I%D1" D?ED(I-&O" 8(" +,-" I'(&'1%?D+%'(" A,D&-G" *-&'2*I-c*%I," I'2(+*%-&" B-D*-?" 2A" +'"3--+"
?'3-&+%I" ?-3D(?" D&" /-11" D&" -fA'*+&O" 4''*" I'2(+*%-&" %3A'*+-?" >D&%I" )''?&+'IC" D(?"
I'(E-*+-?"%+"%(+'")%(%&,-?"B''?&G"-3A,D&%&"/D&"A1DI-?"'("+,-"3D(2)DI+2*-"D(?"3D*C-+%(B"
')"&A-I%D1%+@"I,-3%ID1&O"
8+" %&"(D+2*D1"+,D+G"B%E-("+,-"+-I,('1'B@"%(E'1E-?"%("+,-%*"3D(2)DI+2*-G"+,-"3Df%323"
ED12-" D??%+%'(" 'II2*&" %(" +,-&-OU,-" %(+-*c1%(CDB-&" >-+/--(" +-I,('1'B@G" -I'('3@G"
-(E%*'(3-(+G" &'I%-+@" D(?" A'1%+%I&" ,DE-" (-E-*" >--(" 3'*-" %(+%3D+-" +,D(" +,-@" D*-" +'?D@O"
U-I,('1'B%ID1" ?-3D(?&" ,DE-" I,D(B-?" *DA%?1@" ?2-" +'" I,D(B-&" %(" +,-" 3D*C-+G" +,-"
DED%1D>%1%+@" ')" *D/" 3D+-*%D1&G" -(E%*'(3-(+D1" I'(I-*(&G" -(-*B@" *-b2%*-3-(+&" D(?" 3Da'*"
I,D(B-&" %(" +,-" A'1%I@" )*D3-/'*CO" 5f%&+%(B" A*'?2I+%'(" +-I,('1'B%-&" ,DE-" ')+-(" " +'" >-"
2AB*D?-?O" .'" %(?2&+*%D1" A*'I-&&nA*'?2I+%'(" &@&+-3" ID(" -E-*" I'3A1-+-1@" +*D(&)'*3" +,-"
%(A2+" *-&'2*I-&" %(+'" +,-" ?-&%*-?" A*'?2I+O" :/%(B" +'" +,-" %(-fA-(&%E-" D(?" D>2(?D(+"
DED%1D>%1%+@"')"*D/"3D+-*%D1&G"+,-"-3A,D&%&"%("+,-"AD&+"/D&"+'"%&'1D+-"+,-"?-&%*-?"A*'?2I+"')"
+,-"A2*-&+"b2D1%+@"/%+,'2+"AD@%(B"32I,"D++-(+%'(" +'"+,-"/D&+-"B-(-*D+-?" %(" +,-"A*'I-&&O"
_'*"-fD3A1-G"%("+,-"-D*1@"@-D*&"')"+,-"&2BD*"%(?2&+*@"+,-")'I2&"/D&"'("3Df%3%d%(B"&2BD*"
'2+A2+O"U,-"/D&+-"A*'?2I+&G"-fI-A+")'*"3'1D&&-&G"/-*-"('+"2&-?O"5E-(">DBD&&-"/D&">2*(+O
!!P"
.'/D?D@&" G">DBD&&-" %&"2&-?" )'*"3DC%(B"ADA-*"'*" )'*"I'cB-(-*D+%'("')"-1-I+*%I%+@O"U,-*-"
D*-"D>'2+"D"?'d-("I,-3%ID1&")*'3"'+,-*"/D&+-&"&2I,"D&"'fD1%I"DI%?O"#I+%'("%&"2(?-*"/D@"
+'"*-I'E-*"+,-&-">@cA*'?2I+&"D&"/-11OU,-"/'*1?"I,-3%ID1"%(?2&+*@"%&"'(-"')"+,-"3'&+">D&%I"
D(?" %3A'*+D(+" 3D(2)DI+2*%(B" >2&%(-&&-&" B1'>D11@O" 8+&" +'+D1" +2*('E-*" DAA*'DI,-&" p!KKK"
>%11%'(G"B%E%(B"%+"D"&%d-"I'3AD*D>1-"+'"+,D+"')":+,-*"1D*B-"%(+-*(D+%'(D1" %(?2&+*%-&"&2I,"D&"
D2+'3'+%E-G" &+--1G" 3-I,D(%ID1" -(B%(--*%(B" D(?" -1-I+*'(%I" %(?2&+*%-&O" U,-" %(?2&+*@Y&"
DI+%E%+%-&" D*-" 1%(C-?" +'" D" 1D*B-" (23>-*" ')" " '+,-*" %(?2&+*%-&" +'" /,%I," %+" A*'E%?-&" >'+,"
A*'?2I+&" D(?" &-*E%I-&O"U@A%ID11@G" %("3'&+" I'2(+*%-&" +,-" I,-3%ID1" %(?2&+*@" &-11&" *'2B,1@"
,D1)" %+&" +2*('E-*" +'"'+,-*"3D(2)DI+2*%(B"'A-*D+%'(&"*D+,-*" +,D("?%*-I+1@"+'"+,-"I'(&23-*O"
U,-&-"I'33-*I%D1"D*-D"%(I12?-"'+,-*">*D(I,-&"')" +,-"I,-3%ID1" %(?2&+*@"%+&-1)G"D&"/-11"D&"
%3A'*+D(+" AD*+&" ')" %(?2&+*%-&" &2I," D&" I'(&23-*" A*'?2I+&G" -(B%(--*%(BG" ?-)-(I-G"
D2+'3'>%1-&G"ADICDB%(B"D(?"I'(&+*2I+%'(O"U,%&"%(+-*?-A-(?-(I-"/%+,"&'"3D(@"'+,-*"
%(?2&+*%D1" >*D(I,-&" 3DC-&" +,-" &+*2I+2*-" ')" +,-" %(?2&+*@" %(,-*-(+1@" I'3A1-fG" D(?"
2(?-*1%(-&"%+&"B-(-*D1"%3A'*+D(I-"+'"-I'('3%I"?-E-1'A3-(+O"
U,-" I,-3%ID1" %(?2&+*@" ,D&" %+&" 3'&+" %3A'*+D(+" I'3A'(-(+&" %(" +,-" ?-E-1'A3-(+"
/'*1?G"/%+,"W-&+-*("52*'A-G" [DAD(G" D(?".'*+,"#3-*%ID" DII'2(+%(B" )'*" *'2B,1@" LK" A-*"
I-(+"')"+,-"/'*1?"I,-3%ID1&"A*'?2I+%'("D(?"I'(&23A+%'(O"U,-"/'*1?"I,-3%ID1&"3D*C-+"%&"
&,'/(" %(" +D>1-" ]O!O" U,-" 8(?%D(" &,D*-" %(" +,%&" %&" &3D11O" R'/-E-*G" 8(?%D(" %(?2&+*%-&" D*-"
A*-&-(+" %(" D11" +,'&-" &-I+'*&G" D&" %&" DAAD*-(+" )*'3" +D>1-" ]O=O" D(?" /-" D1&'" ,DE-" XjJ"
IDAD>%1%+%-&"%("+,-&-"D*-D&O"U,-"8(?%D("I,-3%ID1&"%(?2&+*@",D&"I'3-"D"1'(B"/D@"&%(I-"+,-"
-&+D>1%&,3-(+" ')" +,-" )%*&+" A-+*'1-23" *-)%(-*@" %(" +,-" I'2(+*@" " %(" !\QTG" D(?" ,D&" BD%(-?"
I'(&%?-*D>1-" 3'3-(+23" %(" +,-" 1D&+" +,%*+@" @-D*&O" 8+&" AD++-*(" ')" ?-E-1'A3-(+" ,D&" >--("
&%3%1D*" +'"+,D+"')" +,-"B1'>D1"I,-3%ID1&" %(?2&+*@O"U,-"!\VK&" %(" )DI+"/%+(-&&-?" +,-" 8(?%D("
I,-3%ID1&"&-I+'*"-(+-*%(B"D"A,D&-"')"I'(&'1%?D+%'(O"92+"%("+,-"I'2*&-"')"%+&"?-E-1'A3-(+G"
+,-"%(?2&+*@",D&"?%&A1D@-?"&-E-*D1"2(%b2-")-D+2*-&O"_'*"-fD3A1-G"D">21C"')"+,-"I,-3%ID1&"
%("8(?%D"D*-"&+%11"A*'?2I-?"%("+,-"&3D11"&-I+'*G"D"A,-('3-('("('+")'2(?"D(@/,-*-"-1&-"%("
+,-"/'*1?O"U,-"I'c-f%&+-(I-"')"D" (23>-*"')"?%))-*-(+" )--?&+'IC&" )'*"3D(2)DI+2*-" %&" @-+"
D('+,-*"A,-('3-('(G"D13'&+"2(%b2-"+'"8(?%DO!
I%EKL!c(C!
I@;!M9B.,!?@;1D70.>!X0B8;=
!!T"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"iii"
U'+D1"&D1-&^"p!O="+*%11%'("iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
iii"
<-I+'*" 4-*I-(+DB-"')"+'+D1"&D1-&"
4-+*'I,-3%ID1&" P\OK"A-*"I-(+"
4,D*3DI-2+%ID1"I,-3%ID1&" !]OT"A-*"I-(+"
4-*)'*3D(I-"I,-3%ID1&" !]OK"A-*"I-(+"
#B*'I,-3%ID1&" !!OK"A-*"I-(+"
U-f+%1-&" \O\"A-*"I-(+"
8('*BD(%I"I,-3%ID1&" ]OL"A-*"I-(+"
:+,-*")%(-"I,-3%ID1&" !OK"A-*"I-(+"
<'2*I-^"U8_#HG"I,-3%ID1&"A*'I-&&"%(?2&+*%-&^"U-I,('1'B@""$%&%'("=K=K"
#+"A*-&-(+"+,-"8(?%D("I,-3%ID1"%(?2&+*@"'II2A%-&"D"A*-3%-*"A'&%+%'("%("8(?%DY&"%(?2&+*%D1"
&-+c"
2AO"8+"DII'2(+&")'*"(-D*1@"L"A-*I-(+"')"+,-"+'+D1"(23>-*"')")DI+'*%-&"%("+,-"I'2(+*@G"D>'2+"
!="A-*"I-(+"') +,-")%f-?"IDA%+D1G"!P"A-*"I-(+"')"+,-"B*'&&"'2+A2+"D(?"!="A-*"I-(+"')"+,-"(-+"
ED12-"D??-?"%("+,-"3D(2)DI+2*%(B"&-I+'*O"UD>1-"]O="B%E-&"+,-"&+D+2&"')"?%))-*-(+"&-I+'*&"')"
+,-"I,-3%ID1"%(?2&+*@O"U,-"I,-3%ID1"%(?2&+*@",D&"/%+(-&&-?"+,-")12I+2D+%'(&"')"ED*%'2&"
&-I+'*&G"D&"%&"&,'/("%("+D>1-"]OP"/,%I,"B%E-&"+,-"&-I+'*D1"B*'/+,"AD++-*("')"+,-"8(?%D("
I,-3%ID1"%(?2&+*@"&%(I-"!\\!O"U,-")12I+2D+%'(&"D*-"AD*+1@"?2-"+'"3D*C-+")'*I-&"D(?"AD*+1@"
?2-"+'"3D*C-+")'*I-&"D(?"AD*+1@"?2-"+'"I,D(B-&"%("+Df"&-*E%I-&O"R'/-E-*G"+,-"8(?%D("
I,-3%ID1"%(?2&+*@"D(?"XjJ"%&"*'>2&+"-('2B,"+'"&2*E%E-"+,-&-"E%I%&&%+2?-&"D(?"-3-*B-"D&"
D("%3A'*+D(+"A1D@-*"D+"+,-"B1'>D1"1-E-1O"
U,-"+2*('E-*"')"+,-"8(?%D("I,-3%ID1"%(?2&+*@">-+/--("+,-"@-D*&"!\V\"D(?"!\\T"
%(I*-D&-?">@"!QV"A-*"I-(+O"J2*%(B"!\\Tc!\\L"+,-"B*'/+,"/D&"D>'2+""VKOQ"A-*"I-(+O"8(?%D
!!Q"
%&"-(+-*%(B"%(+'"+,-"cA'1@3-*"&-I+'*"%("D"3Da'*"/D@"D(?",D&"3D?-">-B%((%(B&"%("&A-I%D1%+@"
I,-3%ID1&O"U,-"I,-3%ID1"%(?2&+*@"%&"2&2D11@"&2>?%E%?-?!
I%EKL!c(&!
3=0=->!9J!,DJJ;B;6=!>;7=9B>!9J!=@;!7@;1D70.!D6,->=BG!SC]d]_]'T"H,D*DI+-*%&+%I&"""""""""""9D&%I"%(?2&+*%D1"""""""_-*+%1%d-*&j"""""""4D%(+&j""""J*2B&j"H'&3-+%I&j"
H,-3%ID1&"""""""""""""A-&+%I%?-&""""""""ED*(%&,-&""""A,D*31&"+'%1-+*%-&".'O"')")DI+'*%-&" !=]T"""""""""""""""""""""""""QQ]"""""""""""""""""""V=K""""""""""""!]\\"LVL".'O"')"/'*C-*&""""""""""""""QVVTL"""""""""""""""""""""]=QPQ"""""""""""""""=TPPQ""""""""""V=\VQ"TPL]\".'O"')"-3A1'@--&""""""""""VQ]]T" \TKL=""""""""""""""P\Q\=""""""""!PV==K"QQK!Q"6*'&&"'2+A2+""""""""""""""""TQK\PP""""""""""""""""""""VPKKT\""""""""""""=PQ=\K""""""""Q=L\=Q"PKQQ]L".-+"ED12-"D??-?"""""""""""""\PT\]"""""""""""""""""""""\]V\=" TLV]P""""""""!!\TVQ"TT\V!"
<'2*I-^"U8_#H""U-I,('1'B@"$%&%'("=K=K"X-A'*+"'("I,-3%ID1"A*'I-&&"%(?2&+*%-&!
I%EKL!c(O!
"6,D06!?@;1D70.!"6,->=BGU!3;7=9B!NB9:=@!)0==;B6!
%66-0.!NB9:=@!D6!I9=0.!I-B69F;B!SA;B!7;6=T"<O".'O""""<-I+'*&"""""""""""""""!\\!c\="""""""""!\\=c\P""""""!\\Pc\T"""""!\\Tc\Q"""""!\\Qc\]"!\\]c\L"!""""""""""I,-3%ID1&j"""""""""""=VOQ""""""""""""""""""!=O=""""""""""""!!OL"""""""""""=\O]"""""""""""""=!OV"VOQ"
A1D&+%I&"
=""""""""""8('*BD(%I""""""""""""""""=]O=" P]OL""""""""""""!KO!""""""""""T=OP""""""""""""""=KO!"!!OV"
P"""""""""#1CD1%-&"""""""""""""""""""=TO!"""""""""""""""""!VO=""""""""""""!!OK""""""""""=LOP""""""""""""""Q\OL"TOT"
T"""""""""_-*+%1%d-*&""""""""""""""""P=OT" POL""""""""""""""""!OL""""""""""PKOP"""""""""""""!QOK"PO]"
Q""""""""""AD%(+&j"""""""""""""""""""=!OT""""""""""""""""""]OP"""""""""""""""!KOP""""""""=KOQ"""""""""""""!VOL"TO!"
ED*(%&,-&
!!]"
]"""""""""""?*2B&j" =TO=" =POQ"""""""""""""=KO="""""""""=TO]"""""""""""""=!OV"=!O!"
A,D*31&"
L"""""""""""&'DA&j"""""""""""""""""""==OK"""""""""""""""""=OK""""""""""""""""!QOQ""""""""""=QO=""""""""""""!VO\"=]OV"
?-+-*B-(+&"
V""""""""""A'1@3-*&""""""""""""""""T=O]""""""""""""""""""!LOK""""""""""""""""VO]"""""""""""PLOK""""""""""""""=!OQ"c=OL"
\""""""""""A1D&+%I"A*'?2I+&"""""""PQOT""""""""""""""""""!QOV"""""""""""""""P=OK""""""""""TPO]"""""""""""""PPOL"QO]"
!K"""""""A-+*'1-23""""""""""""""""""VOV"""""""""""""""""""!]OQ""""""""""""""""QOT""""""""""""PPO]"""""""""""""!\O]"=VOK"
A*'?2I+&"
&'2*I-^"H085"""X-A'*+"""'("8(?%D(""H'*A'*D+-""<-I+'*G"#A*%1""!\\V"
8("+-*3&"')"B-(-*%I"A*'?2I+"k2&-*"&-B3-(+&"'*"I,D*DI+-*%d-?">@")2(I+%'(D1"D*-D&"1%C-"
?@-&+2))&G"A-&+%I%?-&"D(?"&'"'(O"92+">*'D?-*"?%E%&%'(&"1%C-">21C"I,-3%ID1&"D(?"&A-I%D1%+%-&"
D*-"D1&'"2&-?O"9D&-?"'("A*'a-I+%'(&"')">D&%I"%(?%I-&"1%C-"A'A21D+%'(G"A-*IDA%+D"%(I'3-G"
%(?2&+*@G"DB*%I21+2*-"D(?"&-*E%I-&G"+,-"B*'/+,"%(?%ID+'*&")'*"+,-"8(?%D(""I,-3%ID1"%(?2&+*@"
ID(">-"-(E%&%'(-?"D&"%("+D>1-"]OTO"8)"/-"D??"D"I'3A'(-(+"')"E%B'*'2&"DI+%'(")'*"-fA'*+&G"
+,-"B*'/+,"/'21?">-"32I,",%B,-*"+,D("/,D+"%&"%(?%ID+-?"%(",-*-O!
I%EKL!!c(P!
NB9:=@!"6,D70=9B>!J9B!=@;!?@;1D70.!"6,->=BG"<-I+'*""""""""""""""""""""""""""""""""!\\Q"""""""""""""""""""""""=K=K"""""""""""""""""""""""""""""""""""""""6*'/+,"
M3%11%'("+'(-&N""""""""M3%11%'("+'(-&N"A-+*'1-23""""""""""""""""""""""""LK" =TKc=QK"""""""""""""""""""""""""""""""""POQ"+%3-&"
_-*+%1%d-*&""""""""""""""""""""""""""\""""""""""""""""""""""""""""""""""v=K""""""""""""""""""""""""""""""""""VOQ"+%3-&"
4'1@3-*&""""""""""""""""""""""""""!OL" v!Q"""""""""""""""""""""""""""""""""""VOQ"+%3-&"
_%>*-&"""""""""""""""""""""""""""""""KOV""""""""""""""""""""""""""""""""vQ"""""""""""""""""""""""""""""""""""""]OK"+%3-&"
:*BD(%I"I,-3%ID1&"""""""""""P""""""""""""""""""""""""""""""""""""=K" ]OK"+%3-&"
J@-&+2))&"j"A%B3-(+&""""""KO!""""""""""""""""""""""""""""""KO=!"""""""""""""""""""""""""""""""""""""=OK"+%3-&"
F-D+,-*"I,-3%ID1&""""""""""""KO!""""""""""""""""""""""""""KOQc!OK" QOK"+%3-&
!!L"
<2*)DI-"DI+%E-"DB-(+&""""""""KOP"""""""""""""""""""""""""""""KOL"""""""""""""""""""""""""""""""""""""""""=OQ"+%3-&"
<2*)DI-"I'D+%(B&""""""""""""""""KOQ""""""""""""""""""""""""""""!OQ""""""""""""""""""""""""""""""""""""""""""POK"+%3-&"
<A-I%D1%+@"I,-3%ID1&""""""""""KO!"""""""""""""""""""""""""""""=OK""""""""""""""""""""""""""""""""""""""""""=K"+%3-&"
<'2*I-^"U8_#HG"U-I,('1'B@"$%&%'("=K=KG"H,-3%ID1"4*'I-&&"8(?2&+*@"
UD>1-""]OT"%(?%ID+-&"D*-D&"/,%I,"D*-"1%C-1@"+'"A*'E%?-"3Da'*"'AA'*+2(%+%-&")'*"%(('ED+%'(O"
<A-I%D1%+@"I,-3%ID1&"&+D(?&"'2+G")'11'/-?">@"A'1@3-*&"D(?")-*+%1%d-*&O"U,-">D&%I"?'3-&+%I"
?-3D(?"/'21?"&+D>%1%d-"+,-"3%(%323"?-3D(?G"+,2&"-(D>1%(B"%(E-&+3-(+&"%("XjJO"W%+,"
B''?"XjJG" +,-&-" %(?2&+*%-&" ID(" E-(+2*-" %(+'" +,-" -fA'*+"3D*C-+OW,D+" %&" +,-" I,-3%ID1&"
+-I,('1'B@" E%&%'(e<'" )D*G" +,-" %(?2&+*@Y&" B*'/+," ,D&" >--(" >D&-?" '(" %3A'*+-?" A*'I-&&"
+-I,('1'B@O" R'/-E-*G" +,-" &+*'(B" IDAD>%1%+%-&" -&+D>1%&,-?" %(" XjJG" -(B%(--*%(B" D(?"
-b2%A3-(+"3D(2)DI+2*%(B" ,DE-" 1-?" ('+"'(1@" +'" +,-"D&&%3%1D+%'("')" %3A'*+-?" +-I,('1'B@"
>2+"D1&'"+'"+,-"?-E-1'A3-(+"')"%(?%B-('2&"+-I,('1'B@O"W-",DE-"*-DI,-?"D"1-E-1"%("I-*+D%("
D*-D&" MAD*+%I21D*1@" %(" >D+I," A*'I-&&-&N" /,-*-" /-" D*-" ('+" '(1@" I'3A-+%+%E-" >2+" ,DE-"
DI,%-E-?" -fI-11-(I-O"U,-" IDAD>%1%+%-&" %(" -b2%A3-(+"3D(2)DI+2*-" D(?" A1D(+" I'(&+*2I+%'("
,DE-"3D?-"8(?%D"D"I,'%I-")'*"I-*+D%("I,-3%ID1"3D(2)DI+2*%(B")DI%1%+%-&O"U,-"I'3>%(D+%'("
')" D" >D&-" ')" %3A'*+-?" +-I,('1'B@" D(?" IDAD>%1%+%-&" >2%1+" 2A" %(?%B-('2&1@" 1-?" %(%+%D11@" +'"
A*'?2I+" D(?" A*'I-&&" %3A*'E-3-(+O" 5b2%A3-(+" D(?" -(B%(--*%(B" ?-E-1'A3-(+&" D1&'"
I'(+*%>2+-?"+'/D*?&"I'(+%(2'2&" %3A*'E-3-(+&" %("A*'I-&&"+-I,('1'B@"D(?"-(B%(--*%(B"+'"
'A+%3%d-"-))%I%-(I@"D(?"*-?2I-"-3%&&%'(&"D(?"/D&+-"A*'?2I+&O"J-&A%+-"*-3D*CD>1-"B*'/+,"
D(?"?%E-*&%)%ID+%'("%("+,-"I,-3%ID1"%(?2&+*@G"'2*"+-I,('1'B%ID1"&+*-(B+,&"%("A*'I-&&"?-&%B("
D(?" -(B%(--*%(B" ,DE-" >--(" A''*O" W-" ,DE-" D(?" D*-" ?-A-(?%(B" 2A'(" %3A'*+-?" A*'I-&&"
+-I,('1'B%-&"+'"D"E-*@"1D*B-"-f+-(+O"
U,-" ?-3D(?&" D*-" ('/" )'*" I1-D(-*" A*'I-&&" /%+," +'+D1" *-I@I1%(B" D(?" *-I'E-*@g" )'*"
,%B,1@"-(-*B@c-))%I%-(+G"+D%1'*c3D?-"A*'?2I+&g"D"&,%)+")*'3">D+I,"+'"I'(+%(2'2&"A*'I-&&-&"
D(?")'*"%(I*-D&-?"D2+'3D+%'(O"
U,-" +D*B-+" )'*" 8(?%D(" %(?2&+*@" D(?" %(&+%+2+%'(&" %&" +'" DI,%-E-" +,-%*" '/(" A*'I-&&%(B"
+-I,('1'B%-&" )'*" 3'&+" ')" +,-%*" A*'?2I+&" >@" =K=KO" #" 3D&+-*@" ')" +,-" &I%-(I-" D(?"
-(B%(--*%(B"')"ID+D1@&+&"%&"%3A-*D+%E-O"U,-"I'2(+*@"&,'21?">-"IDAD>1-"')"?-&%B(%(B",%B,-*"
IDADI%+@"D(?"1'/"-(-*B@"I'(&23A+%'("A*'I-&&%(B"3DI,%(-&G"D(?"-fA'*+%(B"+,-3"D&"/-11O
!!V"
8(?%D("I,-3%ID1" +-I,('1'B@"ID("D1&'"D&A%*-" +'">-"'(-"')" +,-" 1-D?-*&" %("B-(-*D+%(B"
-(E%*'(3-(+D11@"I1-D("D(?"&D)-"A*'?2I+&G"/,%I,"/'21?"3-D("d-*'"/D&+-"+-I,('1'B%-&" %("
D??%+%'(" +'" +'+D1" *-I@I1%(B" IDAD>%1%+%-&O"W-" &,'21?" D1&'" +'" %(('ED+-" (-/-*" DAA1%ID+%'(&O"
#" (-/" D*-D" %&" -3-*B%(B"/,%I," ?*D/&" '(" +,-" I'(E-*B-(I-" ')" I,-3%&+*@" D(?" >%'1'B@" %("
&'3-" &-I+'*&O" 8(?%D" &,'21?" A*-AD*-" +'" *-DA" *%I," >-(-)%+&" )*'3" +,%&" ?-E-1'A3-(+O"
9%'1'B%ID11@" ID+D1@d-?" A*'I-&&-&" )'*" A*'?2I+%'(" ')" )%(-" '*BD(%I" I,-3%ID1&" D(?"
A,D*3DI-2+%ID1&"/%11">-"D")'*I-"+'"*-IC'("/%+,">@"+,-"+2*("')"+,-"I-(+2*@O"9%'-(B%(--*%(B"
&@&+-3&"/%11" >-" 2&-?" +'" ?%&A'&-" ')" ,DdD*?'2&"/D&+-" D(?" D1&'" +'" B-(-*D+-" ED12D>1-" >@c"
A*'?2I+&O" U,-" +-I,('1'B%-&" %(E'E-?" D*-" >%'ID+D1@&%&G" >%'-(B%(--*%(B" &@&+-3G"
>%'3'1-I21D*" 3D+-*%D1&" D(?" >%'3D+-*%D1&O5(B%(--*%(B" >DI+-*%D" D(?" '+,-*" '*BD(%&3&" +'"
&@(+,-&%d-"3'('3-*&"G"A'1@3-*&G"A,D*3DI-2+%ID1"D(?"'+,-*"I,-3%ID1&"%&"('/"A'&&%>1-G"D&"
%&"&@(+,-&%&"')"'1@A,-(@1-(-&""2&%(B">DI+-*%D"D(?">-(d-(-O"9%'c'*BD(%&3&"/%11">-"2+%1%d-?"
+'" ID**@" '2+" +,-" -1D>'*D+-" &-b2-(I-&" ')" '*BD(%I" *-DI+%'(&" +,D+" I'(E-*+" &%3A1-" >2%1?%(B"
>1'IC&" %(+'" I'3A1-f" (D+2*D1" A*'?2I+&" %(" Db2-'2&" -(E%*'(3-(+&" I1'&-" +'" *''3"
+-3A-*D+2*-O"0D(@"(D+2*D1"A*'?2I+&"/,%I,"/-*-"*-A1DI-?"/%+,"&@(+,-+%I"&2>&+%+2+-&"/'21?"
*-DAA-D*"D&"D"*-&21+"')"B-(-+%I"-(B%(--*%(B"D(?"'+,-*">%'+-I,('1'B@"+-I,(%b2-&")'*",%B,-*"
-))%I%-(I@" D(?" I1-D(-*" A*'I-&&" I'(?%+%'(&O<'3-" ')" +,-" D*-D&" %(?%ID+-?" D>'E-" A*'E%?-"
8(?%D"/%+," +,-"'AA'*+2(%+@" +'"A1D@"D" 1-D?%(B" *'1-" %(" +,%&" %(?2&+*@O"U,D+" %&" +,-" E%&%'("/-"
(--?"+'"IDA+2*-"')"DI+%'(&O#&"ID(">-"&--(")*'3"+,-"-D*1%-*"AD*+&G"+,-")%-1?"I'E-*-?">@"+,-"
I,-3%ID1&" %(?2&+*@" %&" E-*@" 1D*B-O" 8+" '))-*&" 3D(@" 'AA'*+2(%+%-&" >2+" %&" D+" +,-" &D3-" +%3-"
&2>a-I+" +'" *-&+*%I+%'(&" A1DI-?" >@" -(E%*'(3-(+D1" I'(&%?-*D+%'(&O" 8+" %&" E21(-*D>1-" +'"
I'(&+*D%(+&"%3A'&-?">@"%(+-11-I+2D1"A*'A-*+@"*%B,+&"*-B%3-&O"8)"DI+%'("%&"+DC-("%(""D?ED(I-"G"
+,-" +,*-D+&" ID(" >-" I'(E-*+-?" %(+'" 'AA'*+2(%+%-&O" _%B2*-&" ]O!G" ]O=D(?" ]OP" D++-3A+" +'"
-(IDA&21D+-"+,-"E%&%'(")'*"+,%&"ED&+"&-I+'*O"#")-/"-1-3-(+&"&2I,"D&"A-+*'1-23"D(?"(D+2*D1"
BD&G" &A-I%D1%+@" I,-3%ID1&G" A'1@3-*&" D(?" A-+*'I,-3%ID1&" D*-" D??*-&&-?" %(" +,-&-" )%B2*-&O"
U,-"1-)+"&%?-"?-&I*%>-&"+,-"I2**-(+"&I-(D*%'"D(?"+,-"*%B,+"&%?-"B%E-&"+,-"E%&%'(")'*"=K=KO"
9%'?%E-*&%+@"D(?"(D+%'(D1"/-D1+,"W-" " ,DE-" a2&+" &--(" ,'/" >%'+-I,('1'B@" %&" B'%(B" +'" D))-I+" )2+2*-" I,-3%ID1"
+-I,('1'B%-&G"D(?",'/"32I,"%+"ID(",-1A"%("DB*%I21+2*-
!!\
!=K
!=!
!=="
D(?"+,-"DB*'c)''?"A*'I-&&%(B"&-I+'*&O"02I,"3'*-"%&"%("&+'*-O"
8("'2*" &-D*I," )'*"D"?-E-1'A-?" 8(?%D"'2*" *%I," >%'?%E-*&%+@"DAA-D*&" +'">-"'(-"')"'2*"
&%B(%)%ID(+"*-&-D*I,">D&-&O"F-+"2&"1''C"D+")%B2*-"]OTG/,%I,"%&"+,-"9%'?%E-*&%+@c+-I,('1'B@"
3D+*%fO"
8+" %&" &'3-/,D+" %*'(%I" %(" +,D+" %(" ,23D(" ,%&+'*@" 3'&+" I'2(+*%-&" /,%I," D*-" *%I," %("
>%'?%E-*&%+@" ,DE-">--(" >@" D(?" 1D*B-"A''*G"/,%1-" D))12-(+"D(?" +-I,('1'B%ID11@"D?ED(I-?"
I'2(+*%-&" D*-" A''*" %(" >%'*-&'2*I-&s" " 8(?%D" %&" %(" D" 2(%b2-" A'&%+%'(O" W-" D*-" *%I," %("
>%'*-&'2*I-&" D(?" ,DE-" D" &'2(?" +-I,('1'B%ID1" D(?" %(?2&+*%D1" >D&-G" >2+" +,%&" ,D&" +'" >-"
)2*+,-*" &+*-(B+,-(-?O" 8)"'(1@"/-"I'21?"IDA+2*-" +,-"/-D1+,"')" +,-&-" >%'1'B%ID1" *-&'2*I-&"
+,*'2B,"+,-"D&&%?2'2&"DAA1%ID+%'("')" +-I,('1'B@G"/-"I'21?"-D&%1@" >-I'3-"D("-I'('3%I"
A'/-*" +'" *-IC'(" /%+,O" 8)" /-" ?'" ('+" IDA%+D1%d-" '(" '2*+-I,('1'B%ID1" D(?" %(?2&+*%D1"
&+*-(B+,&"+'"+DA"'2*"*%I,">%'?%E-*&%+@G"D(?"?-A-(?"'("+,-"W-&+" )'*"'2*">%'?%E-*&%+@"/%11"
)1'/"+'"+,-"?-E-1'A-?"/'*1?O"W-"3D@"-(?"2A"?-*%E%(B"'(1@"3D*B%(D1">-(-)%+&O"#1&'"8(?%D"
ID("-D&%1@"*-DI,"b2D?*D(+"="%("+,-_%B2*-"]OT"D&"/%+,"+,-"/-D1+,"&'"B-(-*D+-?")*'3"'2*"-I'"
*-&'2*I-&G"%+"ID("%(E-&+"%("'+,-*"D*-D&"')"+-I,('1'B%-&"D&"/-11O"
U,-"DAA1%ID+%'(&"?*D/(")*'3"+,-"1%)-"&I%-(I-&"D*-"B'%(B"+'"D))-I+"D13'&+"D11"/D1C&"')"
-I'('3%I"D(?"&'I%D1"1%)-"%("+,-"I'3%(B"@-D*&O"9%'&-(&'*&"D*-"1%C-1@"+'">-"2&-?"+'"3'(%+'*"
-(E%*'(3-(+D1" A'112+%'(" '*" %(" +,-" D(D1@&%&" ')" >1''?" '*" +'" a2?B-" D" )*2%+Y&" *%A-(-&&O"
H'3A2+D+%'(D1"&@&+-3&"I1'&-*"+'"+,-"'A-*D+%'("')"+,-",23D(">*D%("D*-"1%C-1@"+'"-3-*B-"%("
)2+2*-O" U,-&-" DAD*+G" +,-*-" D*-" D" (23>-*" ')" A'+-(+%D11@" &%B(%)%ID(+" DAA1%ID+%'(&" %("
DB*%I21+2*-G" ,-D1+," ID*-G" 3D*%(-" D(?" %(?2&+*%D1" &-I+'*&O" R-*>D1" 3-?%I%(-&" D(?" 3D*%(-"
A*'?2I+&"D*- 1%C-1@"+'"-3-*B-"D&",2B-"D*-D&"')"%(I'3-"B-(-*D+%'("D(?"-3A1'@3-(+O
!=P!
I@;!B;,D>79F;BG!9J!=B0,D=D960.!869:.;,<;!+0>;>"
U,-">-(-)%+&"')"3'?-*("&I%-(I-"3D@"('+",DE-"*-DI,-?"D11"AD*+&"')"+,-"/'*1?">2+"
+,-*-"%&"D")D*"B*-D+-*"D/D*-(-&&"')"+,-&-"D3'(B"A-'A1-O"4-'A1-"D*-"('/"?-3D(?%(B"3'*-"
-b2%+D>1-"<,D*-"')"+,-")*2%+&"')"3'?-*("C('/1-?B-"D(?"&C%11&O8(""8(?%D"+''"+,-">-(-)%+&"')"
&I%-(+%)%I" D(?" +-I,('1'B%ID1" >*-DC+,*'2B,&" ,DE-" ('+" *-DI,-?" D11" &-B3-(+&" ')" '2*"
&'I%-+@O7(+%1" +,%&" ,DAA-(&G"/-"ID(('+"I1D%3" +,D+" 8(?%D" %&" +*21@"D"?-E-1'A-?"&'I%-+@O"W-"
-I,'" +,-" )--1%(B"')"/,D+" +,-" (D+%'(D1"A'-+"<2>*D,3D(@D"9,D*D+,%"/*'+-" %("UD3%1^" Y8)" D"
&%(B1-"3D("?'-&"('+",DE-")''?"+'"-D+G"/-"/%11"?-&+*'@"+,%&"/'*1?OY"
U,-" b2-&+" +'" -(&2*-" +,D+" &2I," >-(-)%+&" *-DI," D11" ,D&" 1-?" +'" D(" %3A'*+D(+"
?-E-1'A3-(+G" -&A-I%D11@" ?2*%(B" +,-" 1D++-*" ,D1)" ')" +,-" +/-(+%-+," I-(+2*@^" +,D+" %&G" +,-"
>*-DC?'/(" ')" ?'B3D&" *-BD*?%(B" +,-" '*%B%(" ')" C('/1-?B-O" 5D*1%-*G" D?E'ID+-&" ')"
+,-&I%-(+%)%I"DAA*'DI," &I'*(-?" +,-"3D(@" &C%11" D(?"C('/1-?B-" )*'3"D(I%-(+" &'I%-+%-&"'("
+,-" B*'2(?&" +,D+" +,-@"/-*-" ('+" I'3A1-+-1@" *D+%'(D1" D(?" -3A%*%ID11@" " A*'E-(" O"5E-(" +,-"
-1%+-" )*'3" +,-"D(I%-(+" &'I%-+%-&G"/,%I,"/-*-"3'&+1@"2(?-*?-E-1'A-?G%B('*-?"+,-&-"'1?-*"
&C%11&" D(?" C('/1-?B-" >D&-O" U,-" *2&," )'*" ?-E-1'A3-(+"/D&" &@('(@3'2&"/%+," %3%+D+%(B"
&'3-" ?-E-1'A-?" (D+%'(&OU,-" -fA1'&%E-" B*'/+," ')" +-I,('1'B%-&" D(?" +,-" *-&21+D(+"
-(E%*'(3-(+D1" D(?" '+,-*" A*'>1-3&" 1-?" 3D(@" +,%(C-*&G" &I%-(+%&+&" D(?" +-I,('1'B%&+&" +'"
b2-&+%'(" +,-" " &%(B1-c+*DIC" DAA*'DI," +'" C('/1-?B-O"0D(@" ')" +,-" D(I%-(+" +,-" C('/1-?B-"
>D&-&G" &2I,"D&" +*%>D1" &'I%-+%-&G" D*-" >-%(B" *-E%&%+-?O"FD*B-"D3'2(+&"')"?D+D"'(" +*D?%+%'(D1"
&@&+-3&"')"3-?%I%(-G"+,-"2&-"')",-*>&G"D(?"-E-("""3-+D112*B@",D&">--("BD+,-*-?O"#)+-*"+,-"
D(D1@&%&" ')" A'&&%>1-" AD++-*(&" %(" +,-&-" ?D+DG" 3'?-*(" &I%-(+%)%I" 3-+,'?'1'B%-&" D(?" (-/"
+-I,('1'B%ID1"3-D(&"ID(">-"2&-?"+'"I'(&%?-*D>1-Y"ED12-"D??Y"+'"D(I%-(+""C('/1-?B-""D(?"
-fA-*%-(I-O"U,%&" %&"/,D+"/-"&--" %(" +,-"&AD+-"')" %(E-(+%'(&"D*'2(?"(--3"'*" +D3D*%(?"'*"
+2*3-*%I"'*">D&3D+%"*%I-O"<%3%1D*1@G"+,-"C('/1-?B-">D&-"')"'+,-*"I%E%1%dD+%'(&"%&"D1&'">-%(B"
-f+-(&%E-1@" 2+%1%d-?^" H,%(-&-" DI2A2(I+2*-" +-I,(%b2-&" D*-" >-%(B" 2&-?" +,-" /'*1?" 'E-*O"
<-*%'2&" &+2?%-&" ')" <D(&C*%+" D*-" >-%(B" 2(?-*+DC-(" )'*" A'&&%>1-" DAA1%ID+%'(&" +'" I'3A2+-*"
1D(B2DB-O" 8+" %&" ('+-/'*+,@" +,D+"?-E-1'A-?" I'2(+*%-&G"3D(@"')"/,%I," +,-3&-1E-&"D*-" ('+"
*%I," %(" >%'?%E-*&%+@G" D*-" +DC%(B" D" 1-D?" %(" &2I," &+2?%-&O" <%(I-" +,-" ?-E-1'A-?" I'2(+*%-&"
a-D1'2&1@
!=T
!=Q"
A*'+-I+" +,-%*" %(+-11-I+2D1" A*'A-*+@" *%B,+&" D(?" +*D?-" &-I*-+&G" +,-@" ,DE-" -(&2*-?" D" 1-D?" %("
+,-&-"D*-D&"D&"/-11O"
#("'))%I-*"%("#(?,*D"4*D?-&,"/,'"/D&"%("I,D*B-"')"+*%>D1"?-E-1'A3-(+")'2(?"+,D+"+,-"
+*%>D1&" A2+" I-*+D%(" B23&" D(?"/''?"3D+-*%D1&" %(" +2*>%?"/D+-*" +'"3DC-" " +,-" "/D+-*" I1-D*O"
#AAD*-(+1@"&'3-"I,-3%ID1"'*"A,@&%ID1"DI+%'("+DC-&"A1DI-"/,%I,"D>&'*>&"+,-"3D+-*%D1&"+,D+"
3DC-"+,-"/D+-*"+2*>%?O"9-%(B"I2*%'2&G"+,%&"'))%I-*"D&C-?"&'3-"&I%-(+%&+&",-"C(-/"+'"&+2?@"
+,-"3D+-*%D1&O"#)+-*"-fA-*%3-(+D+%'("+,-@")'2(?"+,D+"+,-"3D+-*%D1&"2&-?">@"+,-"+*%>D1&"-E-("
,D?"+,-"A*'A-*+@"')"D>&'*>%(B",-DE@"3%(-*D1&"&2I,"D&"(2I1-D*"3-+D1&O"U,-"'))%I-*"/D(+-?"
+'"A2*&2-"+,-" %(E-&+%BD+%'(" )2*+,-*O"#&"')+-(",DAA-(&" %("'2*"&@&+-3G",-" )DI-?"*-&%&+D(I-O"
R-" +*%-?" +'" DAA*'DI," D" )-/" 1D>'*D+'*%-&" " /,%I," ?%?" ('+" *-&A'(?O" #" )'*-%B(" 2(%E-*&%+@"
&,'/-?"%(+-*-&+O"W,D+"+,-"'))%I-*"-&+D>1%&,-?"/D&"+,D+"D"(-/"+-I,('1'B@">D&-?"'("+*%>D1"
C('/1-?B-"/D&" D" E%D>1-" A*'A'&%+%'(O"U,-" ID&-" ')" &D*ADBD(?,%" %&" D('+,-*" -fD3A1-O"U,-"
D(I%-(+" C('/1-?B-" ')" +,%&" A1D(+" 1-?" +'" +,-" %(E-(+%'(" ')" <-*AD&%1G" /,%I," %&" 2&-?" )'*"
I'(+*'11%(B">1''?"A*-&&2*-O"
W-"D*-"D/D*-"')"3D(@" )'*-%B("I'3AD(%-&" "/,%I,"D*-" )2(?%(B"DID?-3%I&" )*'3"
8(?%D("2(%E-*&%+%-&"+'"*-I'*?"&2I,"D(I%-(+"C('/1-?B-O"U,-&-"I'3AD(%-&"ID("AD@"*-&-D*I,"
&I,'1D*&",D(?&'3-1@"+'"*-I'E-*"+,%&"C('/1-?B-")'*"+,-3O"
W,D+" &,'21?" 8(?%DY&" *-&A'(&-" >-e" [2&+" +'" E-(+" '2*"3'*D1" %(?%B(D+%'(" D(?" +D1C"
D>'2+"-fA1'%+D+%'(">@"+,-"?-E-1'A-*&e"W-">-1%-E-"+,D+"+,-"3'&+"I*2I%D1"DI+%'("8(?%D",D&"+'"
+DC-"%&"+'"&+-A"2A"'2*"+-I,('1'B@"+'"I,D*+"'2+"D(?"2(?-*&+D(?"'2*">%'?%E-*&%+@G"+'"A*'+-I+"
%+G"D(?"D>'E-"D11"+'")'*B-"(-/"+-I,('1'B%-&"'2+"')"'2*"*%I,">%'?%E-*&%+@O"8)"/-",DE-"+'"A1D@"
+,-" BD3-" ')" I'(E-*+%(B" 3D+-*%D1&" %(+'" %(+-11-I+2D1" A*'?2I+&" '*" DI+2D1" A*'?2I+&" +'" >-"
A*'+-I+-?"1-BD11@G"1-+"2&"?'"&'O"F-+"2&"+,-&-"('+"3-*-1@"+'"-(*%I,"D")-/"%("'2*"I'2(+*@">2+"
+'" I*-D+-" &2&+D%(D>1-"/-D1+," )'*" D11" A-'A1-O" F-+" 2&" D1&'" D++-3A+" B1'>D1" 1-D?-*&,%A" %(" +,-"
A*'?2I+%'("')"&2I,"I'33'?%+%-&O"
W-" >-1%-E-" +,D+" +,-" (-/-*" +2*(&" %(" 3'?-*(" +-I,('1'B%ID1" D?ED(I-&G" >-" +,-@"
&+2?%-&" ')" (D+2*D1" A*'?2I+&G" >%'+-I,('1'B@" '*" %()'*3D+%'(" +-I,('1'B@G" '))-*" D" (-/" &-+"
'AA'*+2(%+%-&")'*"2&"+'"('+"'(1@"ID+I,"2A"/%+,"+,-"?-E-1'A-?"(D+%'(&">2+"+'"&2*AD&&"3D(@"
')"+,-3O
!=]"
R'/"+'"DI,%-E-"%+e"
U-I,('1'B@"$%&%'("=K=K"?'I23-(+&"'("1%)-"&I%-(I-&"D(?">%'+-I,('1'B@"I'(+D%("?-+D%1&"')"
-))'*+&" +'" *-D1%d-" +,-" >-(-)%+&" ')" %(?%DY&" >%'1'B%ID1"/-D1+," D(?" +'" I,D((-1" +,-&-" )'*" +,-"
B-(-*D1"B''?O"
W-"/D(+"+'"&,D*-"/%+,"+,-"*-D?-*&"&'3-"')"+,-"-fI%+-3-(+"D(?"'AA'*+2(%+%-&"+,D+"
1%-" D,-D?" ')" 2&" %(" )21)%11%(B" +,%&" 3Da'*" +D&CO5E-(" +,'&-" )D3%1%D*" /%+," >D&%I" %(?%D("
B-'B*DA,@"/%11">-"D/D*-"')"+,-"*%I,")1'*D"D(?")D2(D"')"+,-"R%3D1D@D&G"')"+,-"('*+,c-D&+G"
+,-"I'D&+D1"*-B%'(G"D(?"I-(+*D1"8(?%DO"5E-("+,-"?-&-*+"*-B%'(&"')" +,-"*DaD&+,D(",DE-"+,-%*"
'/("&A-I%D1"AD1(+&D(?"D(%3D1&O"8)"/-G"D&"D"(D+%'(G"/%11" %+G"/-"ID("'*BD(%d-"D"&@&+-3D+%I"
ID3AD%B("+'"2+%1%d-"+,-"+D1-(+&"')"I'11-B-&G"&I,''1&""D(?"&-E-*D1"'+,-*"1'ID1"%(&+%+2+%'(&"+'"
*-I'*?" +,-" DED%1D>%1%+@" ')" ED*%'2&" >%'*-&'2*I-&O"U,D(C&" +'"'2*" &2*E-@" '*BD(%dD+%'(&" D(?"
&-E-*D1"'+,-*"*-&-D*I,"" %(&+%+2+%'(&G"I'(&%?-*D>1-"%()'*3D+%'(",D&"D1*-D?@">--("I'11-I+-?O"
U,%&" ID(" >-" 2A?D+-?" D(?" '*%-(+-?" +'/D*?&" D(" DI+%'(" A1D(^')" A*'+-I+%'(" D(?"
I'(&-*ED+%'(g')"&@&+-3D+%I"&+2?@"D(?"2+%1%dD+%'("g+,-("')"A*'+-I+%(B"ED*%'2&"*%B,+&"*-1D+%(B"
+'"%(+-11-I+2D1"A*'A-*+@"'*"&%3%1D*"*%B,+&g"D(?"')"-I'('3%I"2+%1%dD+%'(O8("D??%+%'("+'"+,-&-"
A,@&%ID1" &2*E-@&G" +,-" 1'ID1"C('/1-?B-"')">%'?%E-*&%+@"ID(">-"?'I23-(+-?OU,%&" %&"/,-*-"
+,-" %(E'1E-3-(+" ')" '+,-*&" )*'3" +,-" ?%&I%A1%(-&" ')" 1%(B2&+%I&G" &'I%'1'B@" D(?" &'" '(" D1&'"
I'3-&" %(+'" +,-" A%I+2*-" O" 8)" +,-" +-D3&" D*-" *-&'2*I-)21" -('2B,G" +,-@" &,'21?" ('+" &+'A" D+"
I'11-I+%(B" &2I," %()'*3D+%'(" D1'(-O" U,-@" ID(" I'11-I+" %()'*3D+%'(" '(" 1'ID1" D*+&G" 32&%IG"
I*D)+&"D(?"'+,-*"&C%11&O"0'?-*("+-I,('1'B@G"/%+,"%+&"E%?-'"ID3-*D&G"1DA+'A"I'3A2+-*&"D(?"
+DA-"*-I'*?-*&",D&"3D?-"+,%&"+D&C"-D&%-*"+,D("-E-*">-)'*-O"U,%&"/%11"D1&'",-1A"+'"%?-(+%)@"
+,'&-"&'2*I-&"')"C('/1-?B-"/,%I,",'1?"-I'('3%I"A'+-(+%D1O"4-'A1-" %("?%))-*-(+"AD*+&"')"
+,-"I'2(+*@"ID("&,D*-"+,-""&%B,+&"D(?"&'2(?&"')"D"AD*+%I21D*"*-B%'(O"
#('+,-*" *%I," >%'*-&'2*I-" %&" '2*" 1'(B" I'D&+O" " W-" ,DE-" 3'*-" +,D(" PQKK" C3" ')"
I'D&+1%(-"'("+,-"3D%(1D(?G"%(I12?%(B"+,D+"')"FDC&,D?/--A"D(?"+,-"#(?D3D("D(?".%I'>D*"
%&1D(?&" +,%&" %(I*-D&-&" +'" LQ!]" C3O" " 8(?%D" ,D&" +,-" 2(%b2-" A*%E%1-B-" ')" D(" 'I-D(" >-%(B"
(D3-?"D)+-*" %+O" "<+%11G"3D(@" 8(?%D(&"D*-" 1D(?1'IC-?O"W-" 1''C" )'*/D*?"+'"D"?D@"/,-("D11"
8(?%D("I,%1?*-("ID(" ,DAA%1@"-(a'@" D" &/%3" %("'2*" &-D"/D+-*&O" ":2*" (-B1-I+"')" +,-"'I-D("
1-D?&" ('+"3-*-1@" +'" D" 1'&&" ')" -(a'@3-(+" >2+" +'" D(" -I'('3%I" 1'&&O" "W-"'(1@"3%(%3D11@"
,D*E-&+"'2*")%&,O""U,-*-"D*-"3D(@"ED*%-+%-&"')""&-D/--?"/,%I,"I'21?">-"2&-?")'*")''?"'*"
3-?%I%(D1" A2*A'&-&O" " 8(" D??%+%'(G" I-*+D%(" 3D*%(-" A1D(+&G" D(%3D1&" D(?" 3%I*'c'*BD(%&3&
!=L"
,'1?"+,-"C-@"+'"B*'/%(B"A1D(+&" %("&D1%(-"*-B%'(&O" "_'*"-fD3A1-G"B*'/%(B"A1D(+&" +'"3DC-"
+,-3"*-&%&+D(+" +'"&D1%(%+@O" "U,-*-"D*-"3D(@"DI+%E-" %(B*-?%-(+&" %("3D*%(-"*-&'2*I-&"/,%I,"
,'1?" B''?" A*'3%&-" D&" ?*2B&" D(?" A,D*3DI-2+%ID1&O" " #1*-D?@" +,-*-" D*-" &'3-" ?*2B&" )'*"
ID(I-*"+*-D+3-(+"/,%I,"D*-"?-*%E-?")*'3"3D*%(-"&'2*I-&O""U,%&"%&"D('+,-*"*%I,">%'*-&'2*I-"
8(?%D"&,'21?"1-D*("+'"2(?-*&+D(?"D(?"+'"2&-G"/%+,'2+G"')"I'2*&-G">-%(B"*DADI%'2&O!
b"X%K%2%#!XL$"?"#%K!)K%#I3e%#!Lf%X)KL"
8(?%D" %&" *%I," %("3-?%I%(D1" A1D(+"/,%I," D*-" DED%1D>1-" D11" DI*'&&" +,-" &2>I'(+%(-(+O" "0D(@"
h)'1CY" 3-?%I%(-&" D(?" A*DI+%I-&" D*-" A*-ED1-(+" -E-(" +'?D@O" " U,-*-" ,DE-" >--(" &-E-*D1"
&@&+-3D+%I"&+2?%-&"D>'2+ +,-&-G"+,'2B,"+,-@"ID(('+"I1D%3"+'">-"I'3A1-+-"'*"D?-b2D+-O"
R-*-"/-"/%11"b2'+-"D" )-/"-fD3A1-&"')"&2I,"&+2?%-&">-%(B"I'(?2I+-?" %("&'3-"')"
+,-"*-3'+-&+"AD*+&"')"8(?%DG" %("+,-"F-,"D(?".2>*D"ED11-@&O" "U,-&-"D*-"?'I23-(+-?"%("+,-"
E'123-&"'("H'1?"J-&-*+"41D(+&">@":3"4*DCD&,"H,D2*D&%D"D(?"9*D,3D"<%(B,"')"+,-"_%-1?"
X-&-D*I," FD>'*D+'*@G" JXJ:" D+" F-,O" " R-*-" '(-" 3D@" D??" +,-" D13'&+" D11" +,-" I1%3D+%I"
*-B%'(&" %(" +,-"/'*1?" D*-" *-A*-&-(+-?" %(" 8(?%Dw*'2B,1@" %(" +,-" &D3-" *D+%'" D&" +,-" B1'>D1"
?%&+*%>2+%'(" ')" &2I," B-'B*DA,%ID1" d'(-&O" " H'1?" ?-&-*+&G" )'*" -fD3A1-G" D*-" )'2(?" %(" +,-"
%(+-*%'*"')"#&%D"D(?"%("+,-"%(+-*3'(+D(-"d'(-"')".'*+,"#3-*%IDO"":)"+,-"+'+D1"/'*1?"1D(?"
3D&&" !]" A-*" I-(+" %&" 2(?-*" I'1?" ?-&-*+&O" " 8(" 8(?%D" I'1?" ?-&-*+&" I'3-" 2(?-*" +,-" +*D(&c"
R%3D1D@D(" d'(-G" D(?" D*-" I'()%(-?" +'" FD?DC," %(" [D332" D(?" ;D&,3%*" D(?" FD,D21" D(?"
<A%+%"%("R%3DI,D1"4*D?-&,O"
8(" 8(?%DG" +,-" ,%&+'*@"')"3-?%I%(D1"A1D(+&"ID(" >-" +*DI-?">DIC" +'"+,-"$-?%I"A-*%'?"
MTQKKc!QKK"9HNO""U,-"%?-(+%+@"')"&-E-*D1"A1D(+&G"E%dO"&-3D1G"A%+,2D("D(?"ADAD1"*-)-**-?"+'"
%("+,-"&2C+D&"')"+,-"X%B"$-?D"ID(">-")%f-?"/%+,"*-D&'(D>1-"I-*+D%(+@O""W,%1-"+,-"X%B"$-?D"
I'(+D%(&" '(1@" 3%('*" *-)-*-(I-&" +'" 3-?%I%(D1" A1D(+&G" +,-" #+,D*ED" $-?D" I'(+D%(&" 3'*-"
?-+D%1-?"%()'*3D+%'(G"?-&I*%>%(B"D>'2+"=KKK"&A-I%-&"D(?"+,-%*"2&-&O"
#)+-*"+,-"$-?%I"-*DG"+,-"/'*C&"')"+,-"*-('/(-?"A,@&%I%D(&"H,D*DCD"D(?"<2&*2+DG"
(D3-1@"+,-"H,D*DCD"<D3,%+D"D(?"<2&*2+D"<D3,%+DG"?-D1"/%+,"D>'2+"LKK"?*2B&"')"?D%1@"D(?"
&A-I%)%I" 2&-&O" " 9-+/--(" +,-" &%f+--(+," D(?" &-E-(+--(+," I-(+2*%-&" 8(?%D" /%+(-&&-?" B*-D+"
2A,-DED1&"%("+,-"?-E-1'A3-(+"')"3-?%ID1">'+D(@"D(?"&'3-"')"+,-"3'&+"/%?-1@"2&-?",-*>D1
!=V"
?*2B&"ID3-" +'" 1%B,+" %(" +,%&"A-*%'?O" "_'*"+,%&" *-D&'(" +,-"A-*%'?" %&"D1&'"ID11-?" +,-"#B-"')"
R-*>D1"0-?%I%(-O"
8+",D&">--("-&+%3D+-?"+,D+"'2+"')"D>'2+"=KKK"?*2B&"+,D+",DE-">--("2&-?"-f+-(&%E-1@"
%("8(?%DG":(1@"=KK"-DI,"D*-"')"D(%3D1"D(?"3%(-*D1"'*%B%("/,%1-"+,-"*-&+"D*-"')"A1D(+"'*%B%(O"
<%(I-" +%3-" %33-3'*%D1G"R%3D1D@D(" )1'*D" ,D&" >--(" D"3Da'*" &'2*I-" ')"3-?%I%(D1"
A1D(+&G"D(?"+,-"I'1?"?-&-*+"%&"('+"D("-fI-A+%'("+'"+,%&O""U,-"A-'A1-"')"+,-"I'1?"?-&-*+"%&"&+%11"
A*-)-*",-*>D1"A*-&I*%A+%'(&">D&-?"'("+,-"U%>-+D("&@&+-3"')"3-?%I%(-OR-*>D1"3-?%I%(-" %&"
A*DI+%I-?" >@" &A-I%D1%d-?" 1'ID1" ?'I+'*&" ID11-?" #3I,%&O" " R-*>D1" A1D(+&" DED%1D>1-" %(" +,%&"
*-B%'(" ,DE-" >--(" )'2(?" 2&-)21" %(" +,-" +*-D+3-(+" ')" ?%D**,-DG" I'1?G" I'2B,G" &+'3DI,"
I'3A1D%(+&G",-D?DI,-"D(?"&C%("?%&-D&-&O""9-&%?-&"I-*+D%("A1D(+"&A-I%-&")'2(?"%("+,%&"D*-D"
&2I," D&" 4-BD(23" ,D*3D1D" D(?" #*+-3%&%D" &AAO" " ,DE-" >--(" )'2(?" 2&-)21" %(" I'(+*'11%(B"
A*'>1-3&"D&&'I%D+-?"/%+,"3-(&+*2D+%'("D(?"D&"DA,*'?%&%DI&O"
8()'*3D+%'("D>'2+"+,-"B*'/+,"D*-D&G"B*'/+,"AD++-*(&"D(?"2&-)21(-&&"')"3-?%I%(D1"
A1D(+&",D&">--("BD+,-*-?O""U,%&",D&">--("?'(-"/%+,"+,-",-1A"')"#3I,%&G"1'ID1"+*%>D1&"D(?"
>@"&ID((%(B"')"DED%1D>1-"1%+-*D+2*-O"
U,-&-" -fD3A1-&" D*-" '(1@" %112&+*D+%E-" ')" +,-" %33-(&-" A'+-(+%D1" >@" /D@" ')"
3-?%I%(D1"A1D(+&" %("8(?%DO" "83DB%(-"+,-"A'&&%>%1%+%-&" %)"D"?-+D%1-?"&2*E-@" %&"?'(-" %("-DI,"
E%11DB-"'*"+D12C"')"'2*"I'2(+*@G"D(?G"D>'E-"D11G"%)"/-"2&-"+,%&"C('/1-?B-"+'"3DC-"I'(I*-+-"
ED12-"D??%+%'(G"D(?")'*"I'33-*I%D1%dD+%'(O""HD("/-"*%&-"2A"+'"+,%&"I,D11-(B-e""W-">-1%-E-"
/-"ID(G"D(?"/%+,"*-1D+%E-1@"3'?-&+"%(E-&+3-(+O""F-+"'2*"E%&%'(">-"I,D*B-?"/%+,"+,-"?-&%*-"
+'"-f+*DI+"+,-">-&+"'2+"')"'2*">%'1'B%ID1"/-D1+,O
!=\!
?b%)IL4!g!
X%#W\%?IW4"#N!\R4!IbL!\WIW4L"
8)""+,-""+,*--""*D(B-&""')"""+%3-G"%+""%&""(D+2*D11@"",D*?-&+""+'"B-+""A-'A1-"+'"+,%(C"D>'2+"+,-"1'(B"+-*3"E%&%'("')"D"3'*-"&2&+D%(D>1-"/'*1?G">2+"%+"%&""E%D1""+,D+""/-""'E-*I'3-""'2*""*-12I+D(I-""+'""3DC-"I'(I*-+-"%3DB-&"
&2I,"D"/'*1?O"cc02**D@"6-11c0D(("
U,-"A*-&-(I-" ')" +*D?%+%'(D1" 8(?%D(" &C%11&" %("3-?%I%(-G"3-+D112*B@G" I'(&+*2I+%'(G" +-f+%1-&G"
,@?*D21%I&"'*"-D*1@"&,%A>2%1?%(B"/D&"D("%(+-B*D1"AD*+"')"'2*"%(('ED+%E-(-&&"%("D(I%-(+"D(?"
3-?%-ED1" +%3-&O" "W%+(-&&" +,-" &A1-(?%?"3-+D1" %I'(&" D(?"3'(23-(+&" 1%C-" +,-"UDa"0D,D1"
/,%I,"/-*-" I*-D+-?" -3A1'@%(B" %(+*%ID+-" ,23D(" &C%11&" D(?" ,23D(nD(%3D1" A'/-*O" " 8(?%D"
/D&"*-('/(-?")'*",-*"A*'/-&&" %("&C%11&"D&"?%E-*&-"D&" &2*B-*@"D(?"32&1%("/-DE%(BO" "W-"
/-*-"D?ED(I-?"%("+,-"2&-"')")%*-"D(?"%("3-+D112*B@O""<+%11G"+,-"%(E-(+%'("')"3DI,%(-&"+,D+"
B-(-*D+-" +,-%*" '/(" 1'I'3'+%E-"A'/-*" >@" >2*(%(B" -f+-*(D1" )2-1&" -12?-?"3-?%-ED1" 8(?%DO"
U,-" %(+-*(D1" I'3>2&+%'("-(B%(-G" +,-"I'*(-*&+'(-"')" +,-" %(?2&+*%D1" *-E'12+%'(" %("52*'A-G"
*-DI,-?" 8(?%D" '(1@" %(" +,-" I'1'(%D1" A-*%'?O" " 8(?%D"/D&" D" 1D+-I'3-*" %(" 1-D*(%(B" +,-" (-/"
3D(2)DI+2*%(B"+-I,(%b2-&"%(E-(+-?"%("52*'A-O""8+"/D&"'(1@"%("+,-"1D+-"(%(-+--(+,"D(?"+,-"
)%*&+",D1)"')" +,-" +/-(+%-+,"I-(+2*@" +,D+" 8(?%D"-&+D>1%&,-?"D" )-/"&2BD*" )DI+'*%-&G" &+--1"D(?"
+-f+%1-" 3%11&" D(?" >-BD(" +'" +,%(C" %(" +-*3&" ')" D3>%+%'2&" A*'a-I+&" 1%C-" &,%A>2%1?%(B" D(?"
D%*I*D)+"D(?"D2+'3'>%1-"3D(2)DI+2*-"+,D(C&"+'"E%&%'(D*%-&"1%C-"WD1I,D(?"R%*DI,D(?O!
IbL!XR$L4#!\%?L!R\!X%#W\%?IW4"#N"
0D(C%(?" ,D&" &--(" *DA%?" +*D(&)'*3D+%'(" %(" +,-" 1D&+" !QK" @-D*&" >-ID2&-" ')" +,-" 3D&&"
3D(2)DI+2*%(B" +-I,(%b2-&"A-*)-I+-?" %("/-&+-*(" (D+%'(&" D(?" 1D+-*" +DC-(" +'"(-/" 1-E-1&"')"
-))%I%-(I@">@"[DAD(O""0D&&"A*'?2I+%'("D(?"A*'?2I+%'(")'*"+,-"3D&&-&">-ID3-"+,-">D&-&"')"
(-/" >2&%(-&&" &+*D+-B%-&O" " FD*B-c&ID1-" I'(&23A+%'(" >@" D11" /%+," +,-" &'I%D1" >-(-)%+" ')"
*-3'E%(B"A'E-*+@">-ID3-"+,-"?'3%(D(+"-I'('3%I"&+*D+-B@O"
U,-" D?E-(+" ')" -1-I+*%I%+@" D(?" %+&" 1D*B-c&ID1-" DAA1%ID+%'(" +'" 1%B,+%(BG" ,-D+%(B" D(?"
'A-*D+%(B" 3DI,%(-&" D??-?" D" )*-&," ?%3-(&%'(" +'" 3D(2)DI+2*%(BO" " 9@" +,-" !\QK&" ID3-"
%(E-(+%'(&" %(" -1-I+*'(%I&" D(?" +*D(&%&+'*" ?-E%I-&" +'" >-" )'11'/-?" >@" %(('ED+%'(&" %(
!PK"
3%I*'-1-I+*'(%I&G" I'3A2+-*&" D(?" ED*%'2&" )'*3&" ')" &-(&'*&G" D11" ')" /,%I," %**-E-*&%>1@"
D1+-*-?"+,-"3D(2)DI+2*%(B"&I-(-O""8+" %&"('/"('"1'(B-*"(-I-&&D*@"+'"3DC-"A*'+'+@A-&"%("D"
)DI+'*@"'*"D"1D>'*D+'*@"+'"&+2?@"D("(-/"A*'?2I+O""0D(@"(-/"A*'?2I+&"ID(">-"?-&%B(-?"'("
I'3A2+-*&G" D(?" +,-%*" >-,DE%'2*" &%321D+-?" '(" +,-3O" " 9@" I,''&%(B" D(" 'A+%323" ?-&%B("
+,*'2B," &2I," &%321D+%'(&G" I'3A2+-*" A*'B*D33-&" ID(" ?%*-I+1@" ?*%E-" +,-" 3D(2)DI+2*%(B"
A*'I-&&-&O" " U,-&-" A*'I-&&-&" D*-" B-(-*D11@" ID11-?" H'3A2+-*"#%?-?"J-&%B(" MH#JN" " D(?"
H'3A2+-*"#&&%&+-?"0D(2)DI+2*%(B"MH#0NO""U,-&-"IDAD>%1%+%-&"D*-"1-D?%(B"+'"(-/-*")'*3&"
')" ?-3D(?&" >@" I2&+'3-*&O" " 5DI," I2&+'3-*" ID(" >-" '))-*-?" &-E-*D1" &A-I%D1" 'A+%'(&O"
H2&+'3%d-?" A*'?2I+" ?-&%B(" '*" )1-f%>1-" 3D(2)DI+2*%(B" D*-" '+,-*" A'A21D*" +-I,(%b2-&"
I2**-(+1@"%("E'B2-"%("3D(@"?-E-1'A-?"I'2(+*%-&O"
U,-" +''1&" 2&-?" %(" 3D(2)DI+2*%(B" +'?D@" ,DE-" 321+%A1%-?" B*-D+1@^" 1D&-*&" D(?"
/D+-*a-+&"D*-"%("%(I*-D&%(B"2&-O""8+"%&"('"1'(B-*"&A-I%D1%d-?"&+--1&"'*"-E-("I-*D3%I&"/,%I,"
3'('A'1%d-"+,-"I2++%(B""+''1"%(?2&+*@O""8+*"%&",D*?"+'">-1%-E-"+,D+"1D&-*&"ID(">-"2&-?"+'"I2+"
,-DE@"&+--1"A1D+-&"D*-"D1&'")'*"?-1%ID+-"-@-"&2*B-*@O""HD("@'2"%3DB%(-"+,D+"+,-"A1D%("/D+-*"
@'2"2&-"D+",'3-"ID(">-"2&-?"+'"I2+"&+--1e""WD+-*"A23A-?"D+",%B,"A*-&&2*-&"D(?")'I2&-?"D&"
D"a-+"I2+&"I1-D(1@O""U,%&"+-I,('1'B@",'1?&"D"A*'3%&-")'*"2&-"7(?-*/D+-*G")'*"-fD3A1-")'*"
'))c&,'*-"%(&+D11D+%'(&O"
U'"?%B*-&&G"D(@+,%(B")'I2&-?G"D(?")'I2&-?"&,D*A1@G">-I'3-&"D"B''?"I2++%(B"-?B-"
'*"D"/-1?%(B"&'2*I-O" "#" 1D&-*" %&"D" )'I2&-?"D(?"I',-*-(+"&'2*I-"')" 1%B,+O" "#"/D+-*a-+" %&"D"
&,D*A1@" ?%*-I+-?",%B," A*-&&2*-" a-+O" " 8)"/-" D1&'G" D&" D" I'2(+*@" D(?" D&" D" A-'A1-G" )'I2&" '2*"
-))'*+&" +'" -*D?%ID+-" A'E-*+@" D(?" +'" ?-E-1'A" %(" D" &2&+D%(-?"3D((-*G"/-" ?'(Y+" +,%(C" D(@"
'>&+DI1-"I'21?"/%+,&+D(?"+,-")'*I-"')"+,D+"I'11-I+%E-G"I',-*-(+G"D(?")'I2&-?"/%11s"
#II'*?%(B"+'"+,-"U8_#H"UD&C"_'*I-&"'("U-I,('1'B@"$%&%'("=K=KG"8(?%D"&+D(?&"+'"BD%("
-('*3'2&1@">@"+,-"I'2A1%(B"')"I'3A2+-*&"D(?"+,-"3D(2)DI+2*%(B"A*'I-&&O""R-*-"/-",DE-"
3D(@"&2II-&&"&+'*%-&G"D1>-%+"&3D11"I'3AD*-?"+'"+,-"A'+-(+%D1G"/,%I,"-(I'2*DB-"2&"+'"&,D*-"
+,%&"E%&%'(O"
W,D+"D*-"+,-&-e"_%*&+"D(?")'*-3'&+"%&G"')"I'2*&-G"+,-")DI+"+,D+"8(?%D"%&">-%(B"1''C-?"
D+"D&"D"&'2*I-"')"&')+/D*-"+,-"/'*1?"'E-*O""9D(BD1'*-",D&">-I'3-"&@&('(@3'2&"/%+,"+,-"
&')+/D*-"A*'/-&&"')"8(?%DO"".'/"R@?-*D>D?"%&"D1&'">-%(B"ID11-?"H@>-*D>D?"+'"&@3>'1%d-
!P!"
%+&"-3-*B-(I-"D&"D"&')+/D*-"D(?"%()'*3D+%'("+-I,('1'B@"I%+@O""8(")DI+G"%+"%&"('+"'(1@"+,-&-"
+/'"I%+%-&">2+"D11"')"8(?%D"/,%I,"I'(+*%>2+-&"+'"&')+/D*-"-fA'*+O""R'/"?'-&"+,%&",DAA-(e"
U,-")211-&+"I*-?%+"B'-&"+'"+,-"3D(@"@'2(B&+-*&")*'3"8(?%D("&I,''1&"D(?"I'11-B-&O""U'"-D*("
D" 1%E-1%,''?G" +,-@" ,DE-" D?DA+-?" +,-%*" &C%11&" +'" &2%+" +,-" ?-3D(?&" +,D+" ,DE-" D*%&-(G" D(?"
A-*)'*3-?"&A1-(?%?1@O"
U,-"*-D1"%&&2-">-)'*-"2&"%&",'/"+'"?*D/"'2+"+,-"B*-D+"A'+-(+%D1"')"'2*"A-'A1-G"+,-%*"
D>%1%+@" +'" /'*C" ,D*?G" D(?" +,-%*" 3'+%ED+%'(" +'" 1-D*(" 3'*-" %(" '*?-*" +'" -fI-1O" " W-" /%11"
D??*-&&"+,%&"D&A-I+"-1&-/,-*-"+''O""92+"&2))%I-"%+"+'"&D@"+,D+"8(?%D(&",DE-"+'">-"+*%BB-*-?"
>@" D" E%&%'(G" D" &2AA'*+%E-" -(E%*'(3-(+" D(?" &'3-"A-*&'(D1" >-(-)%+&" +'" +,-3"D(?" +'" +,-%*"
)D3%1%-&O" "0D(@"')" +,'&-"/,'" 1-)+" +,-"I'2(+*@" %(" +,-"AD&+" )%)+@" @-D*&"/-*-"3'+%ED+-?">@"
+,-&-"*-b2%*-3-(+&O" "W,-("'2*"'/("I'2(+*@"?%?"('+"'))-*"D"I,D11-(B-"'*"D("'AA'*+2(%+@"
)'*"D">-++-*"1%)-G"+,-@"&'2B,+"%+"-1&-/,-*-O"
F-+"2&"I'3-">DIC"+'"+,-"?%&I2&&%'("')"'2*"&')+/D*-"&+*-(B+,&O"U,-*-"D*-"&'3-" %("
'2*"I'2(+*@"/,'"ID&2D11@"?%&3%&&"%+"D&"3-*-"h?D+D"-(+*@Y"&+*-(B+,O""U,%&"&%"+DC%(B"D"E-*@"
(D**'/"E%-/"')"+,%(B&O"".'">%B"-I'('3@"ID("&2*E%E-"'(1@"/%+,"DI+%E%+%-&"/,%I,"?-3D(?"
,%B,1@" %(+-11-I+2D1" %(A2+&O" " U,-" -I'('3%-&" ')" #3-*%IDG" 6-*3D(@G" [DAD(" '*" H,%(D" /%11"
>-D*" +,%&" '2+O" " 92+G" %(" +,-" 1'(B" +-*3G" +,-*-" %&" '(-" -1-3-(+"/,%I," &,'21?" 3DC-" 2&" )--1"
I'(I-*(-?O" "HD(" +,%&" >''3"')" &')+/D*-" -fA'*+" D(?" DAA1%ID+%'(" 1D&+" )'*" ?-ID?-&G"3-*-1@"
>D&-?" '(" &')+/D*-" ?-E-1'A-?" %(" '+,-*" D?ED(I-?" I'2(+*%-&" /,%I," %&" 'A-*D+-?" >@" '2*"
A-'A1-G"D&"DAA1%ID+%'("&2AA'*+"A-*&'((-1G"?D+D"D(D1@&+&"D(?"3D*C-+"?-E-1'A-*&e""#1&'G"D&"%+"
,DAA-(&" ('/D?D@&" +,'&-" /,'" I*-D+-" +,-" '*%B%(D1" ?-&%B(" E-*@" ')+-(" *-DA" 3'&+" ')" +,-"
>-(-)%+&G" ?2-" +'" +,-" (D+2*-" ')" +-I,('1'B@" D(?" ')+-(" >-ID2&-" ')" ED*%'2&" )'*3&" ')"
A*'+-I+%'(w+*D?-" I'(+*DI+&" '*" %(+-11-I+2D1" A*'A-*+@" *%B,+&O" " 0%I*'&')+Y&" &2II-&&" %&" D"
I1D&&%I"-fD3A1-"')"+,-&-"+*-(?&O""0%I*'&')+",D&"/'*1?"*%B,+&"+'"3D(@"&')+/D*-"ADICDB-&O"
U,-*-)'*-G"+,-*-" %&"D"?-)%(%+-"(--?" )'*"8(?%D"('+"'(1@"+'"?-*%E-">-(-)%+&" )*'3"+,-"A*-&-(+"
&')+/D*-">''3"D(?"?-3D(?&G">2+"D1&'"+'"A*-AD*-"%+&-1)")'*"+,-",%B,-*"-(?"')"+,-"3D*C-+O"
8(?%D"&,'21?"?*-D3"')">-I'3%(B"D"&')+/D*-">2&%(-&&">%??-*"%("D"?-ID?-O"
W,D+" %&" +,-" (D+2*-" ')" +,%&" ,%B,-*" -(?" &')+/D*-e" "R-*-"/-"3D@" b2'+-" )*'3" +,-"
X-A'*+"')"+,-".D+%'(D1"H*%+%ID1"U-I,('1'B%-&"4D(-1G"7<#"%("0D*I,"!\\!O<')+/D*-"%&"+,-"
>D&%I"')"I'2(+1-&&"DAA1%ID+%'(&"%("%()'*3D+%'(",D(?1%(BG"3D(2)DI+2*%(BG"I'332(%ID+%'(&G"
,-D1+,"ID*-G"?-)-(I-G"D(?"%("*-&-D*I,"D(?"?-E-1'A3-(+"O"O"O" 8(I*-D&%(B1@G+,-" ?-E-1'A3-(+
!P="
')"D?ED(I-?"&')+/D*-"%&"D("%3A'*+D(+"1%3%+%(B")DI+'*"%("+,-"%(+*'?2I+%'("D(?"*-1%D>%1%+@"')"
(-/"3%1%+D*@"D(?"I'33-*I%D1"&@&+-3O""<')+/D*-"*-b2%*-3-(+&G"O"O"O""-fAD(?"D+"D"?*D3D+%I"
ADI-" D&" D2+'3D+-?" &@&+-3&" A*'1%)-*D+-" D(?" %(I*-D&-" %(" &'A,%&+%ID+%'(O" " J-&A%+-" +,-&-"
B*'/%(B" ?-3D(?&G" +,-" B-(-*D+%'(" ')" D?ED(I-?" &')+/D*-" A*'B*D33-&" *-3D%(&" 1D*B-1@" D"
AD%(&+DC%(BG" 1D>'2*c%(+-(&%E-"3D*C-+O" "#&"D" *-&21+G" +,-"D>%1%+@"')"7<" %(?2&+*@" +'"A*'E%?-"
,%B,"b2D1%+@G"*-1%D>1-"&')+/D*-"%&"%("a-'AD*?@"O"O"O"
8("!\\KG"D"h3%('*Y"A*'B*D33%(B")1D/"*-&21+-?"%("D"(%(-c,'2*"&,2+?'/("')"
+,-"3Da'*"7<"1'(Bc?%&+D(I-"+-1-A,'(-"(-+/'*C"O"O"O"#?ED(I-?"&')+/D*-"+,-*-)'*-"A'&-&"D"
AD*D?'f^"D")2(?D3-(+D1"&'2*I-"')"+-I,('1'B%ID1"A*'B*-&&G"%+"%&"D1&'"B'%(B"+'">-"D"B*'/%(B"
&'2*I-"')" +-I,('1'B%ID1"E21(-*D>%1%+@O"8+" %&" +,%&" 1D>'2*c%(+-(&%E-"A,D&-" %(" &')+/D*-"/,%I,"
,D&"I*-D+-?"D("%33-(&-"'AA'*+2(%+@")'*"8(?%DO""92+"D?ED(I-?"-I'('3%-&"/'21?"('+"1%C-"+'"
1%E-" /%+," D" E21(-*D>1-" A*'&A-*%+@" +,-" 7<" *-A'*+" b2'+-?" D>'E-" ?-&I*%>-&" 3D(@" -))'*+&"
*-b2%*-?"D&"/-11"D&"+,'&-"2(?-*"/D@"+'"*-&'1E-"+,-&-"A*'>1-3&O""hU,-"-&&-(I-"')"&')+/D*-"
%&"%("%+&"?-&%B(O"O"O"&')+/D*-"*-b2%*-&"('"-f+-(&%E-")D>*%ID+%'("'*"D&&-3>1@O"O"O"R'/-E-*G"%+"
%&")*-b2-(+1@"?%))%I21+")'*"+,-"A*'B*D33-&"+'"D(+%I%AD+-"D11"')"+,-"I%*I23&+D(I-&"+,D+"3D@"
D*%&-" /,-(" +,-" A*'B*D33-&" " %&" -f-I2+-?YO" 8(('ED+%E-" I'(I-A+&" >-%(B" ?-E-1'A-?" D*-"
&')+/D*-c>D&-?" ?-&%B(" +''1&" D&" /-11" D&" (-/" 3D(DB-3-(+" I'(I-A+&" )'*" &')+/D*-" ?-&%B("
?-E-1'A3-(+O"
U,-" *-A'*+" I'(I12?-&" +,D+" +,-&-" (-/" DAA*'DI,-&" h,DE-" &+*'(B" A'+-(+%D1" +'"
+*D(&)'*3" &')+/D*-" ?-E-1'A3-(+" )*'3" 1D>'2*c%(+-(&%E-" I*D)+" +'"3'*-" ,%B,1@" D2+'3D+-?"
A*'?2I+%'("A*'I-&&O"""W%+,"&2I,"D?ED(I-&G"+,-"/*%+%(B"')"+,-"&')+/D*-"ID("B%E-"/D@"+'"+,-"
3D(2)DI+2*%(B" ')" &')+/D*-OY" " U,2&G" '(-" ID(" &--" +,D+" ('+" '(1@" ,D&" +,-" )DI-" ')"
3D(2)DI+2*%(B"A,@&%ID1"A*'?2I+&"I,D(B-?">-@'(?"*-I'B(%+%'(G">2+"+,-"I'3A2+-*"&')+/D*-"
/,%I,",D&"3D?-"+,%&"*-E'12+%'("A'&&%>1-"%&"%+&-1)"%("+,-"A*'I-&&"')"*D?%ID1"*-E'12+%'(O!
IL?b#RKRN2!Q"3"R#!\R4!3R\IM%4L"
8(?%D"&,'21?"&+D*+"3DC%(B"D"I'(I-*+-?"-))'*+"+'"IDA+2*-"D"&,D*-"')"+,-"3D*C-+"%("+,-"(-/1@"
-3-*B%(B" A*'I-&&-&" ')" *-1%D>1-" &')+/D*-" )'*" 3D(2)DI+2*%(BG" ,-D1+,ID*-" D(?" '+,-*"
DAA1%ID+%'(&O""W-",DE-"I-*+D%("%((D+-"&+*-(B+,&^""H#JnH#0"ADICDB-&"?-E-1'A-?">@"+,-"
#-*'(D2+%ID1" J-E-1'A3-(+" #B-(I@" M#J#NG" D(?" *-b2%*-?" )'*" +,-" FH#" MF%B,+" H'3>D+"
#%*I*D)+N" A*'a-I+" ,DE-" )'2(?" DAA1%ID+%'(&" %(" 3Da'*" I%E%1%D(" 3D*C-+&" D(?" D*-" ('/" >-%(B
!PP"
3D*C-+-?"/'*1?/%?-">@"D"7<"I'3AD(@O" "U,-*-"D*-"D"(23>-*"')" %(&+D(I-&"/,-*-"8(?%D("
&')+/D*-" ,D&" )'2(?" DAA1%ID+%'(&" %("52*'A-" D(?" +,-"7<#G" %(" +D&C&" *D(B%(B" )*'3"D%*A'*+"
DAA1%ID+%'(&"+'"3D(2)DI+2*%(B"O""#1&'GI-*+D%("+@A-&"')"&')+/D*-")*'3"+,-"DID?-3%I"&-I+'*"
D*-">-%(B" +DAA-?">@"D" )-/"B1'>D1"B%D(+&G" -E-(+2D11@" +'">-" " %(+-B*D+-?">@" +,-3" %(" ED12-c"
D??-?" ADICDB-&O"U,-" +D*B-+&" )'*" 8(?%DY&" &')+/D*-" -fA'*+" D*-" A*'a-I+-?" D&^p!K" >%11'(" >@"
=KK=" D(?" DAA*'f%3-(+1@" pPV" >%11'(" >@" =KKV" O5E-(" +,-&-" A*'a-I+-?" 1-E-1&" ')"
DI,-%E-3-(+&" ID(" >-" B*-D+1@" &2*AD&&-?" >@" -(I'2*DB%(B" -(+*-A*-(-2*&,%AO" 5fA-*+&" D1&'"
>-1%-E-"+,D+">@"=K=K"%(?%D"I'21?"IDA+2*-"D>'2+"!K"+'"!Q"A-*"I-(+"')"+,-"+'+D1"/'*1?"3D*C-+"
)'*"2AA-*"-(?"3D(2)DI+2*%(B"&')+/D*-G-3-*B%(B"D&"D(" %3A'*+D(+" &2AA1%-*"')" &')+/D*-"+'"
I'3AD(%-&"')"+,-"?-E-1'A-?"/'*1?"OU,%&"/%11">-""D??%+%'("+'"D"1D*B-">2&%(-&&"%("1'/-*"-(?"
&')+/D*-O" <%(I-" >@" =K=K" +,-" 1D(B2DB-" >D**%-*&" " )'*" &')+/D*-"/'21?" ,DE-" >--(" *-?2I-?"
I'(&%?-*D>1-G3'&+" 8(?%D(&" /'21?" >-" 2&%(B" 8(?%D(" 1D(B2DB-&" )'*" ?'3-&+%I" D(?" 1'ID1"
DAA1%ID+%'(&O"8+"%&"1%C-1@"+,D+"PK"A-*"I-(+"')"+,'&-"%("-3A1'@3-(+"/'21?">-"2&%(B"ED*%'2&"
C%(?&"')"&')+/D*-"O"
U,-" (D+2*-" ')" >2&%(-&&" %(" +,-"3D(2)DI+2*%(B" &-I+'*" %&" &2I," +,D+" D" )-/"I'3AD(%-&"
?'3%(D+-" +,-" /'*1?" &I-(-" ?2-" +'" +,-" &2A-*%'*%+@" ')" +,-%*" +-I,('1'B%ID1" >D&-" D(?"
'*BD(%dD+%'(D1" &+*-(B+,&OR'/" -E-*G+,-" ?-3D(?&" ')" 3'?-*(" +-I,('1'B%-&" D(?" I2&+'3-*"
A*-)-*-(I-&" D*-" &2I," +,D+" -E-(" +,-&-" B1'>D1" B%D(+&" ID(('+" ?'" -E-*@+,%(B" '(" +,-%*"
'/(OU,-@"(--?"&-E-*D1"&'2*I-&"&')+/D*-G?-&%B("A*DI+%I-&GDAA1%ID+%'(&"?-E-1'A3-(+" "D(?"
&'"'(" O8(?%DY&"3D(2)DI+2*%(B" &-I+'*"D1%B("/%+," " &'3-"')" +,-&-"B%D(+&" +'"A*'E%?-"D+" 1-D&+"
AD*+"')"+,-%*"ED12-"D??-?"&')+/D*-"D(?"
?-&%B(&O" U,-&-" -))'*+&" /%11" >*%(B" %(" I'(&%?-*D>1-" -D*(%(B&" D(?" " D1&'" A1DI-" 8(?%D" %(" D"
A'&%+%'("')"&+*-(B+,"D&"+,-"&')+/D*-"" %(?2&+*@">-I'3-&"3'*-"&'A,%&+%ID+-?"%("+,-"I'3%(B"
@-D*&O8(" *-+2*(G" 8(?%D(" %(?2&+*@" ID(" D1&'" >-(-)%+" >@" DIb2%*%(B" +,-" 0'&+" 3'?-*("
3D(2)DI+2*%(B" -b2%A3-(+" D(?" A*DI+%I-&" *-b2%*-?" U'" 3--+" *%B'*'2&" b2D1%+@" D(?" +%3-"
&I,-?21-"&+D(?D*?&"%("3'?-*(">2&%(-&&O"U,-&-"(-/"3D(2)DI+2*%(B"A*DI+%I-&"/%11"D1&'"B%E-"
D")%11%A"+'"'E-*D11"-I'('3%I"B*'/+,">-ID2&-"-DI,"&-I+'*G">-"%+"DB*'c)''?"'*"I,-3%ID1&"'*"
>%'+-I,('1'B@"'*"-1-I+*'(%I&"'*"ADICDB%(BG/%11">-(-)%+")*'3"+,-&-"(-/"IDAD>%1%+%-&O"5E-("
+,'2B," +-I,('1'B%-&" D(?" C('/" ,'/" 3D@" >-" %3A'*+-?G" +,-" 8(?%D(" 3DI,%(-" +''1" D(?"
-(B%(--*%(B"&-I+'*&"I'21?"/-11"D%3"+'"3D(2)DI+2*-"+,-"3'&+"&'A,%&+%ID+-?"D(?"D2+'3D+-?"
&@&+-3&" +,-"/'*1?O"5E-(+2D11@G" 8(?%D"ID("DIb2%*-" D" 1-D?-*&,%A"A'&%+%'(%("D" )-/"D*-D&"')
!PT"
D?ED(I-?" 3DI,%(-" &@&+-3&O" 8+" /%11" *-b2%*-" D" I'(I-*+-?" -))'+&" %(E'1E%(B" A-'A1-" )*'3"
%(?2&+*@G"*-&-D*I,"1D>'*D+'*%-&G"?-&%B(-*&G"I'(&21+D(+&G"-fA'*+&"D(?"3D*C-+%(BA-*&'(&O"U,-"
3D(DB-3-(+"')"&-E-*D1"&2I,"+-D3&"%("D",%B,1@I'3A-+%+%E-"D(?">2&%(-&&c1%C-"-(E%*'(3-(+"
*-b2%*-&"(-/"&C%11&GIDAD>%1%+%-&"D(?"I'33%+3-(+O"8+"ID(('+">-"DI,%-E-?"%("+,-"'1?-*"&+@1-"
')"I-(+*D1"I''*?%(D+%'("D(?"?-1D@cA*'(-",%-*D*I,%ID%&@&+-3&O"8(")DI+G"+,-"3D(DB-*%D1"+D&C&"
%(E'1E-?"D*-"B'%(B"+'">-3D(2)DI+2*%(B"&@&+-3&"?-&%B(O!
R=@;B!106-J07=-BD6<!>;7=9B>"
W-" ,DE-" ?%&I2&&-?" +,-" 2AA-*" -(?" ')" +,-" 3D(2)DI+2*%(B" &-I+'*/,%I," %&" -3-*B%(B" %(" D"
3Da'*"/D@" %("+,-"?-E-1'A-?"I'2(+*%-&" ">-ID2&-" %+" %&"3'&+" 1%C-1@"+'">-"+,-"3'?-1" )'*" +,-"
)2+2*-"B1'>D11@OW-">-1%-E-"+,D+"8(?%D("%(?2?+*@"ID(('+"-&IDA-"+,%&"*'2+-"D(?"8(")DI+G"%)"/-"
D*-" D1-*+" -('2B," D(?" hB-+" '2*" DI+" +'B-+,-*YG" /-" ID(+DC-" 3Da'*" D?ED(+DB-" ')" +,-" (-/1@"
-3-*B%(B" 'AA'*+2(%+%-&" D(?" >--(" 3DC-" 2A" )'*" +,-" '(-&" 3%&&-?" -D*1%-*OU,-*-)'*-G" /-"
(--?+'"DI+"'("+,%&" )*'(+"&A--?%1@O" " " " " "S-+"/-"ID(('+"D))'*?"+'")'*B-+"D" 1D*B-"(23>-*"')"
&3D11"D(?+%(@"3D(2)DI+2*%(B"2(%+&"/,%I,"D*-"%("+,-"'*BD(%d-?"D(?"+,-"&'cID11-?"%()'*3D1"
&-I+'*O"U,-@" *D(B-" )*'3" +,-" 1-E-1" ')" D*+%&D(I*D)+" +'" +,'&-"/%+," '>&'1-+-"3DI,%(-*@" D(?"
-b2%A3-(+G" &2*E%E%(B'&+1@" >-ID2&-"')" +,-%*" 1'/"/DB-cI'&+&O:)" I'2*&-" D" (23>-*" ')+,-3"
,DE-"A-'A1-"/%+,"B*-D+"%(('ED+%E-"IDAD>%1%+%-&"D(?">D&%I"&C%11&O"<'3-"')"+,-"&3D11-*"2(%+&"
,DE-"I'3-"2A"+'"3--+"+,-"?-3D(?&")'*"-b2%A3-(+""D*%&%(B"'2+"&2>&+%+2+%'("G'*>-ID2&-"')"
+,-" 1'ID1"&'2*I%(B"*-b2%*-3-(+&"')" %(?2&+*%-&"2&%(B" %3A'*+-?"-b2%A3-(+"D(?"C('/",'/O"
U,-" D2+'3'+%E-" &-I+'*" %&D" B''?" -fD3A1-" ')" +,%&O" 0D(@" A1D&+%I" A*'?2I+&G" +-f+%1-&G"
1-D+,-*D(?"-1-I+*%ID1"B''?&"D*-"D1&'"3D(2)DI+2*-?">@"&3D11"D(?3-?%23c&%d-?""%(?2&+*%-&O"
U,-" A*'>1-3&" )DI%(B" +,-3" D*-" ('+" 3-*-1@" D2+'3D+-?" 3D(2)DI+2*%(B" '*" DED%1D>%1%+@" ')"
&')+/D*-O5E-(+2D11@G"&D@"%("D"?-ID?-"'*"-E-("-D*1%-*G"+,%&"&-I+'*"/%11"D1&'")DI-"I'3A-+%+%'("
)*'3"3'*-"-))%I%-(+"2(%+&"2&%(B"D?ED(I-?"+-I,('1'B@O"8+"%&"%3A-*D+%E-"+,D+"/-"A*-AD*-"+,-"
+%(@G" &3D11G3-?%23" D(?" -E-(" >%BB-*M('+" &'" D?ED(I-?N8(?%D(" %(?2&+*%-&+'" )DI-" D" 3'*-"
I'3A-+%+%E-")2+2*-O"U,D+"/'21?"3-D("D"&@&+-3D+%I2AB*D?D+%'("')",23D("&C%11&"%("3'&+"')"
+,-&-" %(?2&+*%-&" D(?" D1&'" 1D*B-c&ID1-" 3'?-*(%dD+%'(" ')" 3D(@" ')" +,-3" >@"
I'(+%(2'2&%(a-I+%'(" ')" (-/-*" MD1>-%+" %(I*-3-(+D1N" +-I,('1'B%-&O0D(@" ')+,-&-" %(?2&+*%-&"
,DE-" +'" >-" ,-1A-?" +'" *-c'*%-(+" +,-3&-1E-&&A--?%1@" )'*" ?%))-*-(+" A*'?2I+" *D(B-&" D(?"
A*'?2I+%'("A*'I-&&-&GC--A%(B"%("3%(?")2+2*-"?-3D(?&"%("+,-"?'3-&+%I"D(?"-fA'*+"&-I+'*&O"
#"*-?--3%(B")-D+2*-"')""+,-"?'3-&+%I"D(?"-fA'*+"3D(2)DI+2*%(B"3-+,'?&"%&"+,D+"+,-*-"%&
!PQ"
('" 1'(B-*" B'%(B" +'" >-" D" I-(+*D1%d-?" D(?" 3'('1%+,%I" 3D&&" 3D(2)DI+2*%(B" >D&-O"
U,-)DI+'*%-&"')"+,-")2+2*-"/%11">-"D"(-+/'*C"')",%B,1@"&A-I%D1%d-?"?-&%B(G?-E-1'A3-(+"D(?"
A*'?2I+%'(" >D&-&G" &A*-D?"'E-*" +,-"B1'>-O" 8)"/-",DE-"D"I'11-I+%E-"/%11"/-" ID(" +*D(&)'*3"
3'&+"')"'2*-f%&+%(B"%(?2&+*%-&"D1'(B"+,-&-"1%(-&"D(?"+,-*->@"D1&'"I*-D+--('2B,"&ADI-")'*"
+'+D11@"(-/"+-I,('c-(+*-A*-(-2*c>D&-?"2(%+&+'"I'3-"2AO"
W-"?'"('+"-(E%&%'("D("8(?%D"/,%I,"B%E-&"2A"3D(2)DI+2*%(B"8(")DE'2*""')""DB*%I21+2*-"
D(?" &-*E%I-&O" #" I'2(+*@" ')" D" >%11%'(cA12&" 4-'A1-" ,D&" +'" -fI-1" %(" 3D(@" I*2I%D1" &-I+'*&g"
3D(2)DI+2*%(B"%&"'(-"')"+,-3O!
L6<D6;;BD6<!!D6,->=BD;>"<'3-"')"+,-"-1-3-(+&"-(E%&DB-?"%( +,-"U8_#H"+-I,('1'B@"$%&%'("*-A'*+")'*"-(B%(--*%(B"%(?2&+*%-&"D*-^
•" 9@"=K!K"G"]K"A-*"I-(+"')"+,-"3DI,%(-"+''1&"A*'?2I-?/%11">-"I'3A2+-*"D(?"
(23-*%ID11@"I'(+*'11-?"MH.HNO
•" 9@"=K=KG"VK"A-*"I-(+"')"+,-"3DI,%(-"+''1&"A*'?2I-?"W%11">-"H.HO
•" 9@"=KKKcKQG"8(?%D("%(?2&+*%-&"/%11"B'"%(")'*")1-f%>1-3D(2)DI+2*%(B"&@&+-3&"
M_0<NG"D*+%)%I%D1"%(+-11%B-(I-"M#8N"
DAA1%ID+%'(&G" A*'I-&&%(B" 2&%(B" 1D&-*G" /D+-*" a-+G" -+IOG" I'1?)'*3%(B" n"
-f+*2&%'(G(-D*"(-+"&,DA-"3D(2)DI+2*%(BG",%B,&A--?"3DI,%(%(B"G"%(+-11%1B-(+"
3D(2)DI+2*%(B"2&%(B" " " &-(&'*&G" I'(+%(2'2&" )'*3%(BG" *-?2I-?"&-+c2A"+%3-&"
E%*+2D1"*-D1%+@"DAA1%ID+%'(&"D(?",D*?"3DI,%(%(BO
•" 9'%1-*" ?-&%B(&" )'*" 3D(@" D1+-*(D+-" )2-1&" /%11" >-" DED%1D>1-" >@" =KKQO"
_12%?%d-?">-?"I'3>2&+%'("+-I,('1'B@"/%11">-"%("/%?-"2&-">@"=KKKcKQO
•" 9@" =KKKcKQG" +-I,('1'B%ID1" 2AB*D?D+%'(" I'E-*%(B" 3D+-*+%D1&" ?-&%B(G"
3D(2)DI+2*%(BG" b2D1%+@G" *-1%D>%1%+@G" ADICDB%(BG" 3D*C-+%(B" D(?" &-*E%I%(B"
/%11" +DC-" A1DI-O" U,-&-" /%11" %(I12?-" I'3A2+-*" #%?-?" J-&%B(" MH#JNG"
I'3A2+-*"#%?-?"0D(2)DI+2*%(B"MH#0NG"_0<G"8<:\KKKG"8<:"!TKKKG"XjJ"
%(" (-/" 3D+-*%D1&G" 3'?21D*" ?-&%B(G" ID&+%(BG" D(?" )'*B%(BG" 3-I,D+*'(%I&G"
A*-I%&%'("3D(2)DI+2*%(B"D(?"D2+'3D+%'(O
•" J-&%B(" D(?" ?-E-1'A3-(+" ')" ,%B," A*-I%&%'(" 3DI,%(-" +''1&G" ,%B,c&A--?"
&A%(?1-&G"1%(-D*"3'+'*"&1%?-&G"?%D3'(?"+*2%(B"3DI,%(-&G"-+IO"/%11"D1&'"I'3-"
2AO
!P]
•" 8(?%D"/%11">-I'3-"D"(-+"-fA'*+-*"')"+-I,('1'B%-&">@"=K!KO
•" <')+/D*-"?-E-1'A3-(+")'*"A*'I-&&-&"D(?"&@&+-3&"/%11"+DC-"A1DI-O
•" 9@"=K=K"8(?%D"/%11">-"D"1-D?%(B"A*'?2I-*"')""b2D1%+@"ID&+%(B&"D(?")'*B%(B&"
D(?"/%11">-"D"1D*B-"-fA'*+-*"')"+,-&-"%+-3&O"8(?%D"/%11">-"&-1)c&2))%I%-(+" %("
D?ED(I-?" 3DI,%(-" +''1&" D(?" >'%1-*&" 2&%(B" &+D+-c')c+,-cD*+" +-I,('1'B%-&O"
5fA'*+&"')"+,-&-"%+-3&"/%11"A*'B*-&&%E-1@"%(I*-D&-O
•" 53A1'@3-(+"B-(-*D+%'("/%11">-"'("+,-"*%&-O"
U,-" &-1-I+" D*-D&" ')" &+*-(B+," D*-" D2+'3'>%1-" AD*+&G" ID&+%(BG" )'*B%(B" D(?" H.H" 3DI,%(-"
+''1&O" #" )-/" 3'*-" I'21?" >-" D??-?" D)+-*" I1'&-" -ED12D+%'(O" 7*B-(+" DI+%'(" %&" (--?-?" +'"
*-D1%d-"+,%&"E%&%'(O"#3'(B"+,-&-"3D(%)'1?"+D&C&"D*-^"
cB*D?D+%'(" ')" A*'I-&&-&" k" H#0G" *'>'+%I&G" /-1?%(BG" (-D*" (-+" &,DA-"
3D(2)DI+2*%(BG"b2D1%+@G"?-1%E-*@"D(?"I'&+G"D(?"&+D+-"')"+,-"D*+"+-I,('1'B@"D?'A+%'(O"
c83A*'E%(B" +,-" &2AA1%-*" >D&-" )'*" I'3A'(-(+&" D(?" &2>cD&&-3>1%-&" D&"/-11" D&"
-E'1E%(B"3'?21D*"?-&%B(&g")1-f%>1-"3D(2)DI+2*%(B"D(?"DB%1-"&@&+-3&"D*-"I*2I%D1O"
c 8("+,-")'2(?*@"&-I+'*G"+,-"%(I*-D&-?"DII-(+",D&"+'">-"
'(" I'(+*'1" ')" ?%3-(&%'(" n" &2*)DI-" )%(%&,G" ED12-" D??%+%'(" +,*'2B," 3DI,%(-?"
ID&+%(BG" )'*B%(B" D(?" 3DI,%(-?" " D(?" D2+'3D+%'(" /%+," %(I*-D&-?" &ID1-" ')"
A*'?2I+%'(O"
c" 8(" +,-" )'*B%(B" &-I+'*"/-" (--?" +'" ?-E-1'A" >-++-*" +''1%(B" IDAD>%1%+%-&cH#JG"
D?'A+" I'1?" )'*B%(B" D(?" (-D*" (-+" &,DA-" +-I,('1'B%-&" D(?" *-&'*+" +'"
3-I,D(%dD+%'("D(?"D2+'3D+%'("/%+,"1D*B-cE'123-"A*'?2I+%'(O"
c" 8(">'%1-*"D(?"A*-&&2*-"E-&&-1&"3D(2)DI+2*-G"2*B-(+"DI+%'("%&"*-b2%*-?")'*"+,-"
2AB*D?D+%'("')"/-1?%(B"&@&+-3&G"D2+'3D+%'("%("/-1?%(BG"2&-"')"*'>'+%I&")'*"
%3A*'E-3-(+"%("*D?%'B*DA,@G"I'(+*'1&G"*-1%D>%1%+@"D(?"&D)-+@O"
c" _2*+,-*" D?ED(I-?" >'%1-*" +-I,('1'B%-&" +,D+" D*-" *-b2%*-?" +'" >-"3D&+-*-?" D*-"
?-E-1'A3-(+" ')" )12%?%d-?" >-?" +-I,('1'B%-&G" '(I-" +,*'2B," >'%1-*" ?-&%B(&G"
%3A*'E-3-(+"')" >'%1-*" +2>-&G" +,-*3D1" -))%I%-(I%-&"D(?"?-&%B(" )'*"D1+-*(D+-"
)2-1&O
!PL"
8(" D??%+%'(" +'" +,-" D>'E-G" D?ED(I-?"3D(2)DI+2*%(B" +-I,('1'B%-&"/'21?" I*2I%D11@" ?-A-(?"
2A'(" %3A*'E-?" 3D(2)DI+2*%(B" IDAD>%1%+%-&O" U,%&" ?-3D(?&" I'(&%?-*D>1-" %(E-&+3-(+" %("
*-&-D*I,"D(?"?-E-1'A3-(+"%("D*-D&"&2I,"D&^
•" _2(?D3-(+D1"*-&-D*I,"%("3DI,%(%(B"%(I12?%(B"3%I*'c3DI,%(%(B
•" J-E-1'A3-(+"')"D?ED(I-?"D2+'3D+%'("&@&+-3&"%(I12?%(B"&')+/D*-
•" J-E-1'A3-(+"')"*'>'+%I&
•" 0-I,D+*'(%I"?-E-1'A3-(+
•" J-E-1'A3-(+" ')" 3-D&2*%(B" D(?" +-&+%(B" -b2%A3-(+" )'*" b2D1%+@" D(?"
*-1%D>%1%+@"D&"/-11"D&
•" J-E-1'A3-(+"')"A*'A-*"&+D(?D*?&"
U,-"D>'E-"/%11"*-b2%*-"D11c*'2(?"2AB*D?D+%'("')"&C%11&"D(?"+,-%*"I'(+%(2'2&"-(,D(I-3-(+O"
U,-" /'*C)'*I-" D+" D11" 1-E-1&" ,D&" +'" >-" *-D?%-?" )'*" 3-I,D+*'(%I&" +,*'2B," 321+%c&C%11"
+*D%(%(BO"0'&+"') +,-"2A?D+-?"I2**%I21D"%("%+"%&G"A'1@+-I,(%I&"D(?"-(B%(--*%(B"I'11DB-&"/%11"
*-b2%*-" ?*D&+%I" *-E%&%'(O" U,-%*" )DI%1%+%-&"/%11" (--?" +'" >-"3'?-*(%d-?O" 8(" +,-" +*D(&%+%'(D1"
A-*%'?G"%(('ED+%E-"+-DI,%(B"3-+,'?&")'*"+,-"D?ED(I-?")DI%1%+%-&"-f%&+%(B"%("%(?2&+*%-&"D(?"
(D+%'(D1" 1D>'*D+'*%-&",DE-" +'">-"D?'A+-?O"#&"?-A%I+-?">*%-)1@" %(" +,-"-D*1%-*" I,DA+-*&G"/-"
,DE-"D++-3A+-?"+'"A*-&-(+"+,-"+*D(&)'*3D+%'("')"+,-"A*-&-(+"&+D+2&"+'"+,-"E%&%'(")'*"=K=K"
)'*" -(B%(--*%(B" %(?2&+*%-&" +,*'2B," )%B2*-" LO!O" 8(" +,-" I-(+*-" I'*-" +-I,('1'B%-&" +'" >-"
3D&+-*-?"D*-",%B,1%B,+-?O!
QD>D96!J9B!=;h=D.;!107@D6;BG"
U,-" +-f+%1-&" &-I+'*" %&" I*2I%D1" )'*" 8(?%D" +'" 3--+" %+&" ?'3-&+%I" (--?&" D(?" 3'*-"
%3A'*+D(+"+'"A*'E%?-"+,-"3Da'*"&,D*-"')" %+&"-fA'*+"-D*(%(B&O"W,%1-"+,-*-"D*-"D"(23>-*"')"
&+*-(B+,&" %(" +,%&"D*-DG" +,-*-"D*-"D1&'" &-E-*D1" +-I,('1'B%-&"/-DC(-&&-&O" _'*"-fD3A1-G"/-"
?-A-(?"2A'(" %3A'*+-?"3DI,%(-*@" )'*"b2D1%+@"A*'?2I+%'(O"U,-"U8_#H"UD&C"_'*I-"+-D3&"
/,%I," ,DE-" 1''C-?"D+" +,-&-"D&A-I+&" %(" +'+D1%+@"D*-"I'()%?-(+" +,D+"8(?%D" ID(" >-"D" 1-D?%(B"
+-f+%1-"A*'?2I%(B"I'2(+*@"D(?">-I'3-"D"+'A"A1D@-*"%("+,-"B1'>D1"3D*C-+O"
U,%&" %&",'-"+,-@"-(E%&%'("+,-"&+-A&"MD&&23%(B"+,D+"I'**-&A'(?%(B"DI+%'(" %&" +DC-("
/-11"%("D?ED(I-N^
•" 9@" =KKKG" +-I,('1'B@" 2AB*D?D+%'(G" A*'?2I+%E%+@" %3A*'E-3-(+G" -(-*B@"
I'(&-*ED+%'("D(?"-(E%*'(3-(+D1"A*'+-I+%'("D&A-I+&"D(?"b2D1%+@"%3A*'E-3-(+"/%11"
+DC-"A1DI-O"U,%&"/%11"%(I12?-"2&-"')"H#JnH#0G"*'>'+%I&G"?'))%(B"D(?",%B,c&A--?
!PV"
*%(B" )*D3-&G" -1-I+*'(%I" %(&+*23-(+D+%'(" D(?" I'3A2+-*%d-?" D2+'3D+%'(G" D%*a-+"
1''3&G"&A%((%(B"D(?"A*-AD*D+'*@cD2+'1-E-11-*"ID*?&"D(?"?*D/")*D3-&O
•" #B*%I21+2*D1"*-&-D*I,"/%11"*-&21+"%(">-++-*"I'++'("@%-1?O":*BD(%I"I'++'("D(?"
I'1'2*-?"I'++'("/%11">-"DED%1D>1-O
•" U,-*-" /%11" >-" D" *-?2I+%'(" %(" +,-" I'&+" ')" ,D(C" @D*(G" 2&-" ')" I'(-" @D*(G"
A*'?2I+%'("')"%(?2&+*%D1")%1+-*")D>*%I&O"0-?%ID1"+-f+%1-&"D(?"2&-"')"3%I*'")%>*-&O
•" 9@" =K!K" -I'c)*%-(?1@" +-f+%1-" -fA'*+&" D(?" ?'3-&+%I" 2&-" /%11" &+D*+O"
4*'?2I+%'("')"B-'"D(?"+-I,(%ID1"+-f+%1-&"/%11">-B%("%("D"3Da'*"/D@O
•" 0DI,%(-*@" 3'?-*(%dD+%'(" /%11" >-" DI,%-E-?" D(?" +,-*-" /%11" >-" ?-E-1'A3-(+" ')"
D?ED(I-?""3DI,%(-&"/%+,"-1-I+*'(%I"I'(+*'1&O".-/"/-)+"%(&-*+%'("+-I,(%b2-&"D(?"D"
I'(+%(2'2&"*'+D+%(B"&@&+-3")'*"/-DE%(B"/%11">-"?-E-1'A-?O
•" R%B,c+-I," C(%++%(B" +-I,('1'B%-&G" 321+%)DI-" /-DE%(BG" 3-1+&A%((%(B" ')"
3%I*')%1D3-(+" @D*(G" -I'c)*%-(?1@" A*'I-&&%(BG" %3A*'E-3-(+" %(" %(?''*" D%*" b2D1%+@"
D(?"*-I@I1%(B"')"/D&+-"/%11"D11">-"?'(-O
•" _%>*-" %(A2+&" 1%C-" a2+-G" 1%(-(G" A'1@-&+-*G" DI*@1%I&" D(?" A'1@A*'A@1-(-" /%11" )%(?" D"
A1DI-"%("@D*("3D(2)DI+2*-O
•" FD*B-c&ID1-" 2(%+&" /%+," D&&-3>1@" 1%(-" A1D(+&" /%11" ?%E-*&%)@" %(+'" ,%B,cED12-"
BD*3-(+&G" aDIC-+&G" %(?2&+*%D1" /-D*" D(?" &A'*+&" /-D*g" %(+-B*D+-?" +-f+%1-" 3%11&" /%11"
-(+-*"BD*3-(+"3D(2)DI+2*-">@"=K!Kc=KO
•" _D&,%'("I,D(B-&"/%11">-")D&+-*">@"=KKK"+,D("D+"A*-&-(+O
•" 53A1'@3-(+"')"/'3-("/%11">-"'("+,-"%(I*-D&-G"-&A-I%D11@"%("BD*3-(+"3DC%(BO"
_%B2*-" LO=" D++-3A+&" +'" IDA+2*-" +,-&-" ?-+D%1&" %(" D" &%3A1-" )'*3" /%+," +,-" 1-)+c,D(?" &%?-"
A*-&-(+%(B" ,%B,1%B,+&"')" +,-"I2**-(+" &+D+2&G" +,-" *%B,+" &%?-" >-%(B" +,-"E%&%'(" )'*"=K=KG"D(?"
+,-"I-(+*-"A'*+%'(",%B,1%B,+%(B"I'*-"+-I,('1'B%-&"+'">-"3D&+-*-?O
!P\"
$%&%'(")'*"+,-"-1-I+*%ID1"3DI,%(-&"%(?2&+*@"
U,%&" %(?2&+*@" %&" A'%&-?" )'*" D" b2D(+23" a23A" /%+," -fI-11-(+" B*'/+," 'AA'*+2(%+%-&O"
021+%(D+%'(D1" I'*A'*D+%'(&" D*-" 1%C-1@" +'" >D&-" +,-%*" 3D(2)DI+2*%(B" 2(%+&" %(" 8(?%DO" XjJ"
)'I2&" /%11" >-" '(" 3D+-*%D1&G" -1-I+*'3DB(-+%I&G" 3-I,D(%ID1" -(B%(--*%(BG" 3D(2)DI+2*-G"
+,-*3D1" -(B%(--*%(B" D(?" A'/-*" -1-+*'(%I&O" 9@" =KKK" H#JnH#0" D(?" D2+'3D+-?"
A*'?2I+%'(" 1%(-&" /%11" >-" >@" 8(?%D(" I'3AD(%-&O 0D%(+-(D(I-c)*--" 3DI,%(-&" " /%11" >-"
A*'?2I-?"%("8(?%DO"J%*-I+"+'*b2-"I'(+*'1"+-I,('1'B@G"D2+'3D+%I"/%(?%(BG"2&-"')"HX6:"n"
HX.6:"&,--+"&+--1&"/%11"D11">- DED%1D>1-O" 8(A2+&")'*"A*'?2I+%'("/%11"2(?-*B'"D"I,D(B-O"
#123%(%23")'%1"/%11"*-A1DI-"/%*-&O"7&-"')"(-/"3D+-*%D1&"1%C-"&D3D*%23G")-**%+-"D(?"1D&-*c"
-+I,-?"3DB(-+%I"3D+-*%D1" &,--+&"D(?"2&-"')"A'1@-&+-*3%?-" D(?"A'1@D3%?-"D&"D1+-*(D+%E-"
-(D3-1"/%11">-"'("+,-"%(I*-D&-O"
9@" =KKKc!K" ?-&%B(&" )'*" >-++-*" ,-D+" ?%&&%AD+%'(G>-++-*" >-D*%(B" ?-&%B(" D(?"
?-E-1'A3-(+" ')" !!" CE,+" 3'+'*&" /%11" >-" A*-ED1-(+O" FD*B-c&ID1-" )1-f%>1-" 3D(2)DI+2*%(B"
)DI%1%+%-&"/%11"I'3-"2A"9-++-*"3DB(-+%I"3D+-*%D1&G%(&21D+%'("D(?",%B,cI2**-(+"?-(&%+@"
H'(?2I+'*&"/%11">-"2&-?O"9@"=K!Qc=K"?-E-1'A3-(+"')"A'/-*cI'(?%+%'(-?"3'+'*&"/%11"
>-" +DC-( 2A" D(?" '*BD(%I" I'(?2I+'*&"/%11" *-A1DI-" 3-+D11%I" H'(?2I+'-&O"#AA1%ID+%'(&" ')"
&2A-*I'(?2I+%E%+@G1%(-D*"3'+'*&"D(?"&%(B1-cI,%A"I'(+*'11-*"/%11">-"/%?-1@"DED%1D>1-O
!TK
QD>D96!J9B!=@;!106-J07=-B;!9J!=B06>A9B=!;i-DA1;6="
8(?%D" /%11" )'11'/" +,-" /'*1?" +*-(?" %(" +*D(&A'*+" -b2%A3-(+" /%+," D" *-?2I-?" +%3-" 1DBO
H'33-*I%D1"E-,%I1-&"/%11",DE-"D",%B,-*"A'/-*"+'"/-%B,+"*D+%'"D(?"+/'c/,--1-*&""/%11"2&-"
)'2*"&+*'C-"-(B%(-&"/%+,"-1-I+*'(%I"I'(+*'1&O0'*-"?%-&-1"-(B%(-&"/%+,"?%*-I+"%(a-I+%'("D(?"
-1-I+*'(%I" I'(+*'1" /%11 I'3-" 2AO8(?%D(" %(?2&+*@" /%11" >-I'3-" '(-" ')" +,-" A*-)-**-?"
&2AA1%-*&"+'"/'*1?"3D*C-+&O8+"%&"-&&-(+%D1 +,D+"+,-"(-/"E-,%I1-&"D*-"-I'c)*%-(?1@O!
%6G=@D6<!-6Di-;.G!"6,D06H"#&" /-" 1''C" D+" +,-" ?-E-1'A3-(+&" %(" +,-" ED*%'2&" &-I+'*&G/-*" 3D@" D&C" /,-+,-*" +,-@" D*-"
2(%b2-1@" 8(?%D(" '*" D*-" /-" 3-*-1@" )'11'/%(B" +,-" +*-(?&" ')" +,-" ?-E-1'A-?" /'*1?GD(?"
/,-+,-*" 8(?%D" %&" 3-*-1@" D?DA+%(B" %+&-1)" )D&+-*" " +,D(" %(" +,-" AD&+OU,-&-" D*-" ('+" -D&@"
b2-&+%'(&"+,'2B,"A'&&%(B"+,-3"%&"-D&@s"W,D+"%)"+,-"I'2(+*@"?-E-1'A&"E-*@"/-11G+,-"/-11c"
>-%(B"')"D11"8(?%D(&"%&"+DC-("ID*-"')GD(?"+,-"I'2(+*@Y&"&-I2*%+@"(--?&"D*-")211@"3-+GD(? @-+"
/-",DE-"('+"?'(-"&'3-+,%(B"h2(%b2-1@Y"8(?%D(e/-"?'(Y+"+,%(C"+,-"B*-D+"3Da'*%+@"')"
8(?%D(&"/%11" >-"AD*+%I21D*1@"/'**%-?" D>'2+" +,%&OU,-"3'&+" %3A'*+D(+" +D&C&"I'()*'(+%(B"2&"
D*-" +'" *-3'E-" A'E-*+@" D1+'B-+,-*" )*'3 '2*" 3%?&+G+'" A*'E%?-" I'(&%?-*D>1-" &'I%D1" D(?
!T!"
-I'('3%I"'AA'*+2(%+%-&"+'"D11"8(?%D(&"D(?"D1&'"+'"A*'E%?-")'*"+,-"&-I2*%+@""')"+,-%*"b2D1%+@"
')" 1%)-O%(" *-D1" +-*3&GD&A-I+&" '+,-*" +,D(" +,-&-" D*-" ')" &-I'(?D*@" %3A'*+D(I-O:)"
I'2*&-GB-'A'1%+%I&"D(?"'+,-*"B-'cI'33-*I%D1"*-D1%+%-&"?%I+D+-"+,D+"/-"DI,%-E-"+,-&-"/%+,"D"
>D&%I" I'*-" &+*-(B+," ')" '2*" '/(G-E-("/,%1-"/-" &+*%C-"3D(@" &+*D+-B%I" AD*+-(-*&,%A&"/%+,"
'+,-*&" %(" +,-" /'*1?G%(" +-*3&" ')" +-I,('1'B@G+*D?-" '*" >2&%(-&&" ?-E-1'A3-(+O"
R'/-E-*G+,-" D&A%*D+%'(" +'" )%(?" &'3-+,%(B" 2(%b2-" &+%11" *-3D%(&" D1%E-" %(" D" (23>-*" ')"
8(?%D(&G&A-I%D11@"+,'&-GA-*,DA&G"/%+,"D("%(+-11-I+2D1">-(+"')"3%(?O+,-@"')+-("1''C"D+"+,-%*"
'/(" IDAD>%1%+%-&" D(?"/'(?-*"/,@" 8(?%D(" ,D&" ('+" ?'(-" &'3-+,%(B" -fI-A+%'(D1OU,-*-" %&"
&'3-" 1-B%+%3DI@" +'" &2I," D&A%*D+%'(&" D&" /-11O%(" )DI+G%+" %&" '(1@" &2I," D&A%*D+%'(&" '*" &2I,"
?*-D3&" +,D+" ID(" A*'A-1" D" (D+%'(" %(" +,-" 1'(B" *2(O+,-" 8(?%D(" ')" +,-" AD&+" ,D&" ,D?" 3D(@"
2(%b2-"%(E-(+%'(&"D(?"?%&I'E-*%-&"/,%I,",DE-",D?"D"B*-D+"%3ADI+"'(",23D("+,'2B,+"D(?"
I%E%1%dD+%'(OU,-&-",DE-"('+"3-*-1@">--("%("+,-")%-1?&"')"A,%1'&'A,@GD*+G+*D?-"'*"&+D+-I*D)+"
>2+" %(" +-*3&" ')" +-I,('1'B%ID1" D*+%)DI+&" D&"/-11OR'/-E-*G%(" +,-" *-I-(+" AD&+G+,-*-" D*-" ('+"
3D(@"'>E%'2&"-fD3A1-&"+,D+"'(-"ID("">-"A*'2?"')"-fI-A+""%("3%&&%1-&G&ADI-"'*"%("D+'3%I"
-(-*B@OU,-" (D3-" ')" 9'&-" ,D&" >-I'3-" &@('(@3'2&" /%+," +,-" 3'&+" 3'?-*(" &'2(?"
&@&+-3&O92+"9'&-"?%?"('+"DI,%-E-"+,%&"/,-(",-"/D&"%("8(?%DOJ2*%(B"+,-")%E-"?-ID?-&"D)+-*"
%(?-A-(?-(I-"/-",D?"&'"3D(@"3Da'*"A*'>1-3&"+'"&'1E-OF''C%(B">DIC"/-"D1'-"('+",D?"+,-"
+@A-"')"*-&'1E-"+,D+" %&"*-b2%*-?"+'"/%A-"'2+"+,-"H-(+2*%-&" +'"&+DB(D+%'("D(?"-3-*B-"D&"D"
E%>*D(+"&'I%-+@OW-",DE-"1-+"B'"3D(@""'AA'*+2(%+%-&"A*-&-(+-?">@"+-I,'('1'B%-&GD&"/-11"D&"
>@"+*D?-"D(?">2&%(-&&O"0%&&-?"'AA'*+2(%+%-&"?'"('+"2&2D11@"*-I2*" %("+,-""&D3-")'*3O8("D"
I'3A-+%+%E-"/'*1?G"+,-*-"D*-"'+,-*&"/D%+%(B"+'"&-%d-"+,-&-"'AA'*+2(%+%-&O"02I,"3'*-"+,D("
+,-">1'/&"+'""(D+%'(D1"A*%?-"'*"+,D+"')"+,-"%(+-11-I+2D1&G"+,-"/'*&+"'2+I'3-"')"&2I,"3%&&-?"
'AA'*+2(%+%-&"%&"+,-"1'&&"+'"+,-""(D+%'(O"&1'/"-I'('3%I"B*'/+,",%+&"+,-"A''*"+,-"3'&+O":2*"
2+3'&+"D++-(+%'("?2*%(B"+,-"(-f+"b2D*+-*"I-(+2*@"&,'21?">-"+'"D++-(?"+'"+,-&-"A*'>1-3&"')"
B*'/+,"D(?"*-3'ED1"')"A'E-*+@O"8("'*?-*"+'"?'"&'G/-"3D@",DE-"+'"D?DA+"3D(@"+,%(B&")*'3"
+,-"/'*1?G"D&"D1&'"A*-AD*-"'2*&-1E-&")'*")2+2*-"I*-D+%E-"D?E-(+2*-&ORDE%(B"1''C-?"D+"&'3-"
')" +,-&-" 3DI*'" %&&2-&" *-1D+%(B" +'" '2*" >-%(B" 2(%b2-G" 1-+" 2&" D??*-&&" -DI," ')" +,-" -D*1%-*"
&-I+'*&" +'" &--" /,D+" +,-" A'&&%>%1%+%-&" D*-" ')" &2I," DII'3A1%&,3-(+O" 8(" +,-" DB*%I21+2*-"
&-I+'*G1-+"2&"('+")'*B-+"+,D+"'2*"B*--("X-E'12+%'("/D&">D&-?"'("*-&-D*I,"?'(-"-1&-/,-*-"
%("+,-"/'*1?O8+"/D&"1D++-*"D?DA+-?"+'"8(?%D("I'(?%+%'(&OU,-"/D@"+,-")D*3-*&"D?DA+-?"+,-&-"
+-I,(%b2-&"%&"*-3D*CD>1-O"8("+,-"I'3%(B"@-D*&G8(?%D")DI-&"+,-"I,D11-(B-"')",DE%(B"+'")%(?
!T="
,-*" '/(" &'12+%'(" )'*" ,%B,-*" @%-1?&O8(?%D(" DB*%I21+2*D1" ,D&" %+&" '/(" &A-I%)%I" )-D+2*-&"
*-1D+%(B" +'" 1D(?" ,'1?%(B&G+-**D%(&" D(?" DB*'cI1%3D+%I" I'(?%+%'(&O0D(@" +-I,(%b2-&" D(?"
A*DI+%I-&"/%11"ID11")'*"(-/-*"D(?"('E-1"&'12+%'(&"G+,'2B,"+,-@"3D@"('+"D11">-")1D&,@OU,-*-"
D*-"A'&&%>%1%+%-&"')"2(%b2-" DAA1%ID+%'(&"')" >%'+-I,('1'B@"'*"(-/-*" )'*3&"')"DB*%I21+2*D1"
3D(DB-3-(+" A*'E%?%(B" -fD3A1-&" ')" -I'1'B%ID11@" &2&+D%(D>1-" A*DI+%I-&O" U,-*-" D*-" B''?"
A'&&%>%1%+%-&" +,D+" 8(?%DGW%+," D" >*'D?"B-(-+%I" >D&-O8(" +,-" I,-3%ID1" &-I+'*" >@" D(?" 1D*B-G%+"
/'21?">-"D"b2-&+%'("')"ID+I,%(B"2AG"D?DA+%(B"(-/-*""%(E-(+%'(&"3D?-"-1&-/,-*-"&A--?%1@"
D(?" D1&'" A*'?2I%(B" '2*" '/(" %(('ED+%'(&OU,-*-" D*-" %33-(&-" A'&&%>%1%+%-&" " )'*" 8(?%D("
I'(+*%>2+%'(&" %(" &A-I%)%I" D*-D&" ')" +,-" I,-3%ID1&" &-I+'*^" ID+D1@+%I" &I%-(I-&" D(?" +,-%*"
DAA1%ID+%'(&G" (-/" I1-D(" I,-3%ID1" A*'I-&&-&G" D(?" (-/" %(E-(+%'(&" )'*" 3-?%I%(D1"
DAA1%ID+%'(&O"8("+,-")%-1?"')"(D+2*D1"A*'?2I+&G"B%E-("8(?%DY&"*%I,">%'?%E-*&%+@"D(?"%33-(&-"
>D&-" ')" D(I%-(+" " C('/1-?B-" &+%11" -f+D(+G" /-" 3D@" >-" D>1-" +'" 3DC-" &-E-*D1"
I'(+*%>2+%'(&O)2*+,-*GD&"+,%&"%&"D"E%*B%("D*-D"/'*1?/%?-G"+,-"&2II-&&"*D+-")'*"8(?%DY&"-))'*+&"
%&"1%C-1@"+'">-"E-*@",%B,O"8("+,-"3D(2)DI+2*%(B"&-I+'*"'2*"2(%b2-(-&&"ID("3D(%)-&+"%+&-1)"%("
+-*3&"')"DAA1%ID+%'(&O"8)"/-"+DC-"2A"DAA1%ID+%'(&"')"D?ED(I-?"&')+/D*-")'*"3D(2)DI+2*%(BG"
D&" ?-&I*%>-?" -D*1%-*" &-*%'2&1@G" +,-*-" D*-" A'&&%>%1%+%-&" +,D+" &'3-" 3'?21-&" '*" DAA*'DI,-&"
3D@"-3-*B-"/%+,"D"('E-1"+,*2&+")'*"/,%I,"8(?%D"/%11">-"C('/("'("+,-"/'*1?"&I-(-O/,%1-"
+,%&"%+&-1)"ID(('+">-"+,-"-(?"B'D1")'*"&'I%-+@"D&"D"/,'1-"%("+,-"I'3%(B"@-D*&G"D"?-+-*3%(-?"
B*'2A"')"8(?%D(&"I'21?"&+-D?@)D&+1@"/'*C"+'/D*?&"&2I,"A'&&%>%1%+%-&"D(?"3DC-"D"3D*C"%("
+,-"/'*1?O8("+,-"A2*&%+"')"D11c*'2(?"-I'('3%I"B*'/+,G"+,-"A,@&%ID1"D(?"&'I%D1"/-11c>-%(B"
')"D11"'2*""A-'A1-"D(?"(D+%'(D1"&-I2*%+@G"/-"3D@",DE-"+'"-(&2*-"+,-"I*-D+%'("')"D("-(D>1%(B"
-(E%*'(3-(+"+'"+*@"&'3-+,%(B"2(%b2-1@"8(?%D(O&2I,"D("%(E-(+%E-"&A%*%+"/%11">-"2&-)21")'*"
+,-"1'(Bc+-*3"&2&+D%(D>%1%+@"')"'2*"B*D%(&O
!TP!
?@0A=;B!!d!
3;BFD7;>!%>!);9A.;Z>!M;0.=@"W-"D*-"/,D+"/-"+,%(C"#11"+,D+"/-"D*-"D*%&-&"W%+,"'2*"+,'2B,+&"W%+,"'2*"+,'2B,+&"W-"3DC-"'2*"/'*1?O"
c"U,-"92??,D"U,-" &-*E%I-&" &-I+'*&" ,DE-" I'3-" +'" >-" I'(&%?-*-?" D"3Da'*" AD*+" ')" +,-" -I'('3@"'(1@" %("
*-I-(+" +%3-&O" 8+" B-(-*D11@" &2>&23-&" D11" -I'('3%I" DI+%E%+%-&" '+,-*" +,D(" +,'&-" *-1D+-?" +'"
DB*%I21+2*-" '*"3D(2)DI+2*%(B" M%(I12?%(B"3%(%(BNO" U*D?%(BG" 3D*C-+%(BG" *-AD%*%(B" D(?G" ')"
I'2*&-G" &-*E%I-" %(" A2>1%I" '*BD(%dD+%'(&" %(I12?%(B" ED*%'2&" )'*3&" ')" B'E-*(3-(+" &-*E%I-G"
+,-"A'&+D1"&-*E%I-G"+-DI,%(B"D(?"&'"'("I'3-"2(?-*"+,%&"&-I+'*O"H,D(B-&"%("DB*%I21+2*-"D(?"
3D(2)DI+2*%(B",DE-"A*'A-11-?"+,-"B*'/+,"')"+,-"&-*E%I-&"&-I+'*O"
0'?-*(" DB*%I21+2*-" /%+," %+&" %3A*'E-?" %(A2+&" D(?" B*-D+-*" 3-I,D(%dD+%'(" ,D&" 1-?" +'"
?-I*-D&-?" DB*%I21+2*D1" -3A1'@3-(+" D(?" 3%B*D+%'(" ')" )D*3" /'*C-*&" +'" 2*>D(" D*-D&" %("
&-D*I,"')">-++-*" 1%E%(B"&+D(?D*?&"/,%I,"+,-"3D(2)DI+2*%(B"&-I+'*" %&"-fA-I+-?"+'"'))-*O"8("
8(?%D"]KcLK"A-*I-(+"')" +,-"/'*C)'*I-" %&" %("DB*%I21+2*-O"92+" &1'/"-I'('3%I"B*'/+,"?'-&"
('+"D11'/"D"B*-D+-*"D>&'*A+%'("')"+,-"*2*D1"A''*"%("'+,-*"DI+%E%+%-&"D(?"3D(@"8(?%D(&"&+%11"
&2*E%E-"D&"3D*B%(D1")D*3-*&"'*"3D*B%(D1"1D(?1-&&"1D>'2*-*&O"U,%&"A*'>1-3"*-b2%*-&"&A-I%D1"
D++-(+%'(G4D*+1@" >@" ,-1A%(B" &'3-" /%+," >-++-*" %(A2+&" %(" DB*%I21+2*-" D(?" D1&'" >@" )%(?%(B"
DE-(2-&" )'*" 3D(@" ')" +,-3" %(" *-1D+-?" '*" '+,-*" A*')-&&%'(&" &'" +,D+" +,-@" ?'" ('+" ?-A-(?"
D1'(-O" U,-*-" ,DE-" >--(" D++-3A+&" +'" >2%1?" *2*D1" *'D?&" '*" '+,-*" -3A1'@3-(+" B-(-*D+%'("
&I,-3-&O" 92+" 3'*-" I*-D+%E-" D(?" -I'('3%ID11@" &2&+D%(D>1-" 'A+%'(&" D*-" DED%1D>1-" %(" +,-"
DB*'c)''?" &-I+'*&G" %(" -fA1'%+D+%'(" ')" >%'?%E-*&%+@G"/D+-*" I'(E-*&D+%'(" A*'B*D33-&G" D(?"
+'2*%&3G"ED12-"D??-?"I*D)+&"D(?"'+,-*"DI+%E%+%-&O"
8("+,-"3D(2)DI+2*%(B"&-I+'*G"D&"&--("%("+,-"A*-E%'2&"I,DA+-*G"+,-*-"D*-",%B,-*"
?-3D(?&" ')" &C%11&" D(?" C('/1-?B-O" 8(I*-D&-?" -I'('3%I" DI+%E%+@" %&" ?-)%(%+-1@" B'%(B" +'"
%(I*-D&-"-3A1'@3-(+" %("3D(2)DI+2*%(B" >2+" +,-" *D+-"3D@"('+">-"D&"32I,"D&" %+"/D&G" &D@G"
+/'"'*"+,*--"?-ID?-&"DB'O
!TT"
U,-*-" %&G" D&"-1&-/,-*-" %(" +,-"?-E-1'A-?"/'*1?G"D" &-D*I," )'*" (-/"-3A1'@3-(+G"
(D3-1@G" )'*"D"&,%)+" +'"D"&-I+'*" 1''&-1@"?-)%(-?"D&" +,-"&-*E%I-&"&-I+'*O":(-"/D@"+'"?-)%(-"
+,%&" &-I+'*" %&" +'" %(I12?-" D(@+,%(B" '+,-*" +,D(" ?%*-I+" DB*%I21+2*-" '*" 3D(2)DI+2*%(BO" U,-"
-3-*B-(I-" ')" 3'?-*(" %()'*3D+%'(" +-I,('1'B%-&" ,D&" 3D?-" +,-" ?-3D*ID+%'(&" -E-("3'*-"
)2dd@O"R'/"?'" @'2" +*-D+" +,-"DI+%E%+@"')"B-(-*D+%'("')"I'3A2+-*&"&%321D+%'(&"')" &-E-*D1"
A'+-(+%D1"A*'?2I+&e":*" *-B21D*"3'(%+'*%(B"')" &'%1" I'(?%+%'(&"D(?"/-D+,-*" )'*-ID&+&"/%+,"
+,-" ,-1A" ')" &D+-11%+-&" D(?" '+,-*" ?D+DG" %(" '*?-*" +'" A*'E%?-" D?E%&'*%-&" +'" +,-" )D*3-*&e":*"
3'(%+'*%(B" ')" B1'>D1"3D*C-+&" ')" DB*%I21+2*D1" A*'?2I+&" D(?" +,-" A'&&%>1-" B1'>D1" @%-1?&" +'"
D(D1@&-" D(?" D?E%I-" )D*3-*&" '(" A'&&%>1-" &D1-&" &+*D+-B%-&e" :*" 3'(%+'*%(B" ')" +,-" I'D&+&"
+,*'2B,"&D+-11%+-"&-(&'*&"+'"D?E%I-")%&,-*3-("D>'2+"A'+-(+%D1"D*-D&"')",%B,"@%-1?"')")%&,e"
U,-"-fD3A1-&"/-"b2'+-"D*-" %(" *-B21D*"I'33-*I%D1"'A-*D+%'(" %(" D?ED(I-?"I'2(+*%-&"D(?"
&2II-&&)21"-fA-*%3-(+&",DE-"+DC-("A1DI-"%("8(?%D"D&"/-11O+'2*%&3G"+-&+%(B"D(?"ID1%>*D+%'(G"
+-I,(%ID1"D(?"3D(DB-3-(+"I'(&21+D(I@G" +*D%(%(BG" &-I2*%+@G" *-D1"-&+D+-G"3D*C-+%(BG"3-?%D"
D(?"D?E-*+%&%(BG"+'"(D3-"D")-/G"D*-"D"AD*+"')"+,-"&-*E%I-&"&-I+'*O!
?06!0!79-6=BG!>-BFDF;!96!>;BFD7;>H"
U,-*-"D*-"&'3-"/,'"/'21?"1%C-"+'">-1%-E-"%("&%3A1%&+%I"&+D+-3-(+&"D>'2+"A'&+c"
%(?2&+*%D1"&'I%-+@"D(?"+,-"*-E'12+%'("')"%()'*3D+%'("+-I,'('1'B@"/,-*->@"&'I%+%-&"ID(">-"
&2&+D%(-?" +,*'2B," +,-" &-*E%I-&" &-I+'*" D1'(-O" U,%&" 3D@" >-" +*2-" )'*" &3D11-*" I'2(+*%-&O" #"
I'2(+*@" 1%C-" 8(?%D"ID(('+",'A-"+'">2%1?" %+&" )2+2*-"'("+,-"&-*E%I-&" &-I+'*"D1'(-" +,'2B," %+"
ID(">-"D(?"/%11">-"D"3Da'*"I'A'(-(-+"')"+,-"-I'('3@O"8(?%D"ID(('+"D))'*?"('+"+'">2%1?"%+&"
&+*-(B+,&"%("DB*%I21+2*-")'*"*-D&'(&"')")'''?"D(?"(2+*%+%'(D1"&-I2*%+@O".'*"ID("%+"D))'*?"+'"
%B('*-&"3D(2)DI+2*%(B"&+*-(B+,&")'*"*-D&'(&"')"-I'('3%I"D(?"(D+%'(D1"&-I2*%+@O"9D&-?"'("
+,-" &+*-(B+,&" ')" +,-&-" +/'" &-I+'*&G" %+" ID(" >2%1?" D"3Da'*" -I'('3%I" %()*D&+*2I+2*-" )'*" +,-"
&-*E%I-&"&-I+'*"D(?"2&-"%+"+'"B-(-*D+-"B*-D+"/-D1+,"D(?"-3A1'@-3-(+")'*",-*"A-'A1-O"
U,2&G" +,-" &-*E%I-&" &-I+'*G" %)" A*'A-*1@" ?-E-1'A-?" D1'(B" /%+," +,-" '+,-*" +/'"
%3A'*+D(+"D(?">D&%I"&-I+'*&G"ID("*-D11@">-"I'(&%?-*-?"D"&-I+'*"%("+,-"&-*E%I-"')"+,-"A-'A1-G"
+'")%(?"(-/" a'>&"D(?" %(?%E%?2D1"A*'A-*%+@O"8("'2*"+-I,('1'B@"E%&%'("=K=K"?'I23-(+&"/-"
,DE-" B%E-(" B*-D+" %3A'*+D(I-" +'" +,-" &-E%I-&" &-I+'*" D&" %+" I'E-*&" 321+%A1-" &-I+'*&" ')"
+-I,('1'B@"D(?"3D(2)DI+2*-(!
I;[email protected]<D;>!06,!;1A.9G1;6=
!TQ"
W-" *-3-3>-*" +,-" D3'2(+" ')" ADA-*" /'*C" /-" ,D?" +'" ?'" +'" B-+" B'E-*(3-(+"
A-*3%&&%'(")'*"A2*I,D&-"')"I'3A2+-*&">@"+,-"8(?%D("&ADI-"X-&-D*I,":*BD(%&D+%'("M8<X:NO"
_'*"A*'I2*%(B"-DI,"I'3A2+-*G"+,-*-"/D&"D" 1'(B"&-*%-&"')"('+-&G"3--+%(B&G"b2-&+%'(&"D(?"
D(&/-*&s"
U,-" I'2(+*@" ,D&" I'3-" D" 1'(B" /D@" &%(I-" +,-(O" 8(" )DI+G" +,-" 'A-(%(B" 2A" ')" +,-"
I'3A2+-*" )*'(+" &%(I-" +,-" 3%?cVK&" ,D&" *-&21+-?" %(" 8(?%DY&" '(-c>%11%'(c?'11D*" &')+/D*-"
-fA'*+&"+'?D@O"H'3A2+-*&",DE-" %(I*-D&-?"-))%I%-(I@"D(?"&-*E%I-G" +,-"I'3A2+-*%dD+%'("')"
*D%1/D@" +%IC-+%(B" >-%(B" D" ('+D>1-" -fD3A1-O" U,-*-" %&" ')" I'2*&-" &A-I%)%I" ?%&A1DI-3-(+" ')"
/'*C-*&" %(" +,-" *-D1" '*" E%*+2D1" &-(&-g" )'*" -fD3A1-G" D" +@A-" ')" I1-*%ID1" &+D))" 3D@" ('+" >-"
)2*+,-*" *-I*2%+-?" >-ID2&-" I'3A2+-*%dD+%'(" ,D&" ,-1A-?" &+*-D31%(-" +,-" ADA-*/'*CO" U,-"
-f%&+%(B"/'*C)DI-"+,2&"(--?&"+'">-"+*D%(-?"%("(-/"&C%11&O"
<'" )D*" +,-" +*D(&%+%'(" ,D&" >--(" *-1D+%E-1@" &3''+,G">2+" +'" &2&+D%(" +,%&"A*'I-&&" %+" %&"
-&&-(+%D1" )'*" +,-"B'E-*(3-(+G" +,-"'*BD(%d-?"&-I+'*G" D(?"-E-(" +*D?-"D(?" 1D>'2*"2(%'(&" +'"
D(+%I%AD+-"&2I,"I,D(B-&"D(?"A*-AD*-"'2*"/'*C)DI-O"W-",DE-" +,-"&2II-&&" &+'*@"')" [DAD("
>-)'*-"2&"D&"D("-fD3A1-O"
8(" +,-" I'3%(B" @-D*&G" *-b2%*-3-(+&" )'*" *DA%?" I,D(B-&" %(" +,-" &C%11&" ')" D" 1D*B-"
(23>-*"')"A-'A1-"%("A-*%'?&"')"&D@"+,*--"+'")%E-"@-D*&"3D@">-I'3-"D"I'(+%(2'2&")-D+2*-"
/,-("(-/-*"+-I,('1'B%-&"D*-"%(+*'?2I-?"%(+'"+,-"-I'('3@O"<2I,"*DA%?"I,D(B-&"/%11"'II2*"
%(" D11" &-I+'*&G" 2(?-*1%(%(B" ,'/" +,-" DB*%I21+2*-G" 3D(2)DI+2*%(B" D(?" &-*E%I-" &-I+'*&" D*-"
%(+-*/%(-?O" 8(" +,-"DB*%I21+2*-"&-I+'*" +,-*-"/%11" >-">-++-*"'A+%3%dD+%'("')" %(A2+" *-&'2*I-&"
1%C-"&--?&G"&'%1"I'(?%+%'(%(BG")-*+%1%d-*c3%I*'(2+*%-(+"3%f-&G"A-&+%I%?-&"D(?"&'"'(G"D&"/-11"
D&" I,D(B-&" %(" +,-" 'E-*D11" DB*%I21+2*-"3D(DB-3-(+O"U,-" DB*%I21+2*-" &-I+'*"3D@" D1&'" 2&-"
%()'*3D+%'("+-I,('1'B@"32I,"3'*-"%(+-(&-1@"+,D("%+"?'-&"('/G">-"%+"%("+,-"2&-"')"*-3'+-"
&-(&%(B" +,*'2B," &D+-11%+-&" )'*" *-B21D*" 3'(%+'*%(B" ')" I*'A&" D(?" &'%1" I'(?%+%'(&" '*"/D+-*"
*-&'2*I-&G'*")'*">-++-*"/-D+,-*")'*-ID&+&"+,*'2B,"&D+-11%+-&"D(?"B*'2(?>'*(-"&@&+-3&G"'*"%("
+,-"2&-"')"3'?-*("I'332(%ID+%'(&"+'">-"%("I1'&-*"+'2I,"/%+,"'1?"'*"(-/"3D*C-+&O"WD+-*"
b2D1%+@" 3D@" >-" 3'(%+'*-?" 3'*-" ID*-)211@" %(" +,-" )2+2*-" /,-+,-*" )'*" ,23D(" '*" D(%3D1"
I'(&23A+%'(O"XDA-?" %3A*'E-3-(+&" %("D?ED(I-?"&-(&'*&"/'21?"3DC-" %+"A'&&%>1-"+'",DE-"
&2I,"&-(&%(B"&@&+-3&"D+"D))'*?D>1-"A*%I-&"%("3D(@"')"'2*"D%I21+2*D1"&-I+'*&O"
8(" +,-" %(?2&+*%D1" D(?" 3D(2)DI+2*%(B" &-I+'*G" ')" I'2*&-G" +,-" 2&-" ')" &-('*&G" D(?"
3'?-*(" -1-I+*'(%I&" D(?" %()'*3D+%'(" +-I,('1'B@" /%11" >-" D" I'(+%(2D1" )-D+2*-" *-b2%*%(B
!T]"
*DA-?"*-'*%-(+D+%'("')"+,-"&C%11&"')"('+"'(1@"+,-"/'*C)'*I-">2+"D1&'"+,-"-(+%*-"3D(DB-3-(+"
%(I12?%(B">'D*?"1-E-1"'A-*D+%'(&O"
8(&+D11D+%'("')" 8U"&@&+-3&" )'*"D11" +,-&-" &-I+'*&G" +*D%(%(B"A-*&'(&"D+"D11" 1-E-1&"D(?"
3D%(+D%(%(B"D(?"%3A*'E%(B"+,-%*"&C%11&"/'21?">-"D"3Da'*"&-*E%I-"%(?2&+*@O!
"6,D0!06,!=@;!>;BFD7;>!>;7=9B"
U,-" DB*%I21+2*D1" &-I+'*" %(" 8(?%D" DII'2(+&" )'*" P=OL" A-*I-(+" ')" 6J4" D(?" ,D&" D("
D((2D1" *D+-" ')" %(I*-D&-" ')" D>'2+" POQ" A-*I-(+O" U,-" &-I'(?D*@" &-I+'*" I'(&%&+&" ')"
3D(2)DI+2*%(BG"A'/-*G"-+IOGD(?")'*3&"=QOV"A-*"I-(+"'*"+,-"6J4"/%+,"D"B*'/+,"*D+-"')"QO\"
A-*" I-(+" O" <-*E%I-&" 1%C-" +*D?-G" &+'*DB-G" +*D(&A'*+G" I'332(%ID+%'(" D(?" )%(D(I-" D*-" +,-"
+*D?%+%'(D1" I'3A'(-(+&" ')" +,-" +-*+%D*@" '*" &-*E%I-" &-I+'*O"#3'(B" +,-" (-/-*" &-*E%I-" +,D+"
,DE-" -3-*B-?" D*-" D?E-*+%&%(BG" 3D*C-+%(B" 3D(DB-3-(+G" D(?" ED*%'2&" I'(&21+D(I%-&O" U,-"
&-*E%I-&" &-I+'*" A*'E%?-&" -&&-(+%D1" %(A2+&" +'" +,-" '+,-*" +/'" &-I+'*&" D(?" &'" +,-@" D*-"
?-A-(?-(+"'("+,-"-))%I%-(+"'A-*D+%'("')"+,%&"&-I+'*"/,%I,"%("8(?%D"%&"('/"D>'2+"TK"A-*"I-(+"
')" +,-" 6H4O" 53A1'@3-(+" %(" +,-" &-*E%I-&" &-I+'*" I'E-*&" D" 1D*B-" *D(B-" ')" 'II2AD+%'(&"
%(E'1E%(B"*-1D+%E-1@"1%++1-"%(E-&+3-(+"%("IDA%+D1"-b2%A3-(+O"U,-*-"%&"D1&'"D"B*-D+"A'+-(+%D1"
)'*"-fA'*+%(B""""&-*E%I-&O"
<'3-"')"+,-"&-I+'*&"I'(&%?-*-?"+'">-"')"B*-D+"ED12-")'*"
8(?%D"%("+,-"U8_#H"*-A'*+& D*-^"
cc_%(D(I%D1""&-*E%I-&"
cc0D*C-+%(B" I'332(%ID+%'(" &-*E%I-&" M" %O-O" D?E-*+%&%(BG" 3-?%DG" I'(&21+D(I@" D(?"
%()'+D%(3-(+N"
cc0D*C-+%(B"1'B%&+%I&G"+*D?%(B"D(?"?%&+*%>2+%'("
ccU*D?-"A*'3'+%'("&-*E%I-&"
ccR23D("*-&'2*I-&"?-E-1'A3-(+"
ccU-I,(%ID1"D(?"3D(DB-3-(+"I'(&21+D(I@"
ccU-&+%(BG"I-*+%)%ID+%'("D(?"ID1%>*D+%'("&-*E%I-&"
cc6'E-*(3-(+"D?3%(%&+*D+%'("
cc<-I2*%+@"&-*E%I-&"
U,-*-"D*-"D1&'"'+,-*"%3A'*+D(+"DI+%E%+%-&O"U'"(D3-"D")-/^"
ccX-AD%*"D(?"3D%(+-(D(I-
!TL"
ccU'2*%&3"D(?",'+-1&"
ccF-%&2*-"D(?"&A'*+&"*-&'*+&"
ccH21+2*D1"DI+%E%+%-&"
cc:1?"DB-"ID*-"&-*E%I-&"
cc4*-E-(+%E-",-D1+,"ID*-"&-*E%I-&"
W-"&,D11"-fD3%(-"D")-/"&-I+'*&"+'"D&&-&&")2+2*-"*-b2%*-3-(+&O!
\D6067D0.!>;BFD7;>"
U,-" )%(D(I%D1" &-I+'*" %(I12?-&" D" 1D*B-" (23>-*" ')" %(&+%+2+%'(&" &2I," D&" I'33-*I%D1"
>D(C&G")%(D(I%D1"+-*3"1-(?%(B">D(C&G" %(&2*D(I-"I'3AD(%-&G"IDA%+D1"3D*C-+&" 1%C-"+,-"&+'IC"
-fI,D(B-G" D(?" &'" '(" O" 8(" +,-" 1D&+" +/-(+@" k)%E-" @-D*&" +,-" (23>-*" ')" >*D(I,-&" ')"
I'33-*I%D1" >D(C&" %(I*-D&-?" &-E-()'1?G" +'" D>'2+" ]QKKK" %(" !\\QO"#BB*-BD+-" ?-A'&%+&" ')"
I'33-*I%D1">D(C&",DE-"%(I*-D&-?">@"+/'"D(?"D",D1)"+%3-&"%("+,-"1D&+"&%f"@-D*&G"+'"X&OTQKK"
>%11%'("%("[D(2D*@"!\\]O"
U,-"B*'&&"ED12-"D??-?"+'"6H4">@"%(&2*D(I-"&-*E%I-&"%(I*-D&-?"D+"+,-"*D+-"')"LOQ"A-*"
I-(+" ?2*%(B" !\VKcV!" D(?" !\\Pc" \TG" >2+" '(1@" ==" A-*" I-(+" ')" D11" %(&2*D>1-" A-*&'(&" D*-"
I'E-*-?">@"1%)-"%(&2*D(I-O"U,-"(23>-*"')"A-*&'(&"I'E-*-?"/%11"%(I*-D&-"&%B(%)%ID(+1@"?2-"
+'" A'A21D+%'(" %(I*-D&-G" -I'('3%I" B*'/+," D(?" +,-" *%&-" %(" +,-"3DB(%+2?-"')" *%&C&" ?2-" +'"
*DA%?"2*>D(%dD+%'(O"H2**-(+1@"1-&&"+,D("!"A-*"I-(+"')"+,-"A'A21D+%'(",D&"D(@"J-D1%(B&"/%+,"
('(c1%)-" %(&2*D(I-" >2&%(-&&G" >2+" +,-" ?-3D(?" '(" +,-&-" &-*E%I-&" %&" >'2(?" +'" %(I*-D&-" D&"
3D(2)DI+2*%(BG"+*D?-"D(?"'+,-*"DI+%E%+%-&"B*'/O"#??%+%'(D11@"3'*-"D(?"3'*-"A-'A1-"/%11"
B'" %(" )'*" A-*&'(D1" DII%?-(+" %(&2*D(I-G" 3-?%ID1" I'E-*DB-" D(?" '+,-*" &2I," )'*3&" ')"
A*'+-I+%'("OU,-">2&%(-&&" %("('(c1%)-" %(&2*D(I-"-E-("I2**-(+1@" %&" %(I*-D&%(B"D+"+,-"*D+-"')"
=K"A-*"I-(+"A-*"D((23"D(?"%&"-fA-I+-?"+'"DII-1-*D+-"+'"PK"A-*"I-(+"%("+,-"
(-f+"?-ID?-O"
J-&A%+-" E'123%('2&" B*'/+," %(" +,-" >D(C%(B" D(?" %(&2*D(I-" &-I+'*&G" A*'I-&&%(B" D(?"
+*D(&DI+%'(&" ,DE-" >--(" ID**%-?" '2+" >@" 1D*B-1@" 3D(2D1" 3-D(&O" #" (D+%'(D1" (-+/'*C" ')"
>D(C%(B" D(?" +,-" %(&2*D(I-" >2&%(-&&" ,D&" +'" -3-*B-O" U,%&" 1DIC" ,D&" D?E-*&-1@" D))-I+-?"
-))%I%-(I@" D(?" %&" D" 3Da'*" ID2&-" ')" +,-" ,%B," *D+-&" I,D*B-?" )'*" )%(D(I%D1" &-*E%I-&O" U,-"
%(+*'?2I+%'(" ')" 8U" )'*" ED*%'2&" 'A-*D+%'(&" D+" +,-" -D*1%-&+" ,D&" >-I'3-" D" (-I-&&%+@O" U,%&"
3-D(&" 2&-" ')" I'3A2+-*&" )'*" (-D*" +'+D1" -1-I+*'(%I" ?D+D" 3D(DB-3-(+" D(?" +,-" 2&-" ')"
+-1-I'332(%ID+%'(&" D(?" 321+%3-?%D" ?D+DG" D?'A+%(B" D" +'+D1" &@&+-3&" DAA*'DI,O" <'3-
!TV"
3'?-*("+-I,('1'B%-&"1%C-"#2+'3D+-?"U-11-*"0DI,%(-&"M#U0NG"D2+'3D+%I"I,-b2-"I1-D*%(B"
&@&+-3&G" +-1-A,'(%I" >D(C%(BG" I*-?%+" ID*?&G" D(?" -1-I+*'(%I" )2(?" +*D(&)-*&" D*-" >-%(B"
%(+*'?2I-"%("D"&3D11"/D@"D(?"/%11">-"A*-ED1-(+"%("3'&+"')"+,-">D(C&"%("+,-"I'3%(B"@-D*&O"
8("'+,-*" )%(D(I%D1" &-*E%I-&G" %(I12?%(B" %(&2*D(I-"&-*E%I-&G" E-*@" 1%++1-"I'3A2+-*%dD+%'("
,D&"+DC-("A1DI-O"U,%&"1DIC"')"8U"*-&'2*I-&",D&"*-&21+-?"%("A''*"&-*E%I-&"+'"I2&+'3-*&"D(?"
%(D?-b2D+-"I'(+*'1&"1-D?%(B"+'"?-1%(b2-(I@"%("1'D(&"O8("IDA%+D1"3D*C-+&G">'+,"A*%3D*@"D(?"
&-I'(?D*@G" '(1@" 1'/" 1-E-1&" ')" +-I,('1'B@" D*-" %(" 2&-" O8(" A*%3D*@" 3D*C-+&" +,-" 1DIC" ')"
I'3A2+-*%dD+%'(" D(?" I'332(%ID+%'(" )DI%1%+%-&" *-&21+&" %(" 1'(B" ?-1D@&" %(" +,-" )%(D(I%D1" ')"
&2>&I*%A+%'(" ')" (-/" %&&2-&O" U,-" 9'3>D@" D(?" .D+%'(D1" <+'IC" 5fI,D(B-" ,DE-" *-I-(+1@"
D?'A+-?"&I*--(">D&-?"+*D?%(BO"
#+"+,-"1'/-*"-(?"')">D(C%(BG"+,D+" %&"*2*D1">D(C%(BG"3D(@"')"+,-&-"+-I,('1'B%-&"3D@"
('+",DE-"*-1-ED(I-"-fI-A+")'*"+,-"/-D1+,@G"D+"1-D&+")'*"D"?-ID?-"'*"3'*-"OU,-"A*'>1-3"%("
+,-" >21C" ')" '2*" E%11DB-" I'332(%+%-&" %&" +'" B-(-*D+-" 3'(-@" D(?" 3DC-" %+" DED%1D>1-" +'"
/'*C-*&G" ('+"3-*-1@" )'*" +,-%*" &2>&%&+-(I-" >2+" +'" ID**@" '2+" &'3-" -I'('3%I" DI+%E%+%-&" ')"
+,-%*"'/("/%+,"&3D11" %(E-&+3-(+&O"_%(D(I%D1"'*" 1-(?%(B"&@&+-3&" )'*"&2I,"A''*"*2*D1" )'1C"
I'21?">-"AD++-*(-?"'("+,-"hB*D3--(">D(C"&@&+-3&Y"&2II-&&)211@"'A-*D+-?"%("9D(B1D?-&,O"
X2*D1" +-1-A,'(-"DII-&&"-%+,-*" +,*'2B,"X#m"MX2*D1"5fI,D(B-N"&@&+-3&"?-E-1'A-?">@"Hc"
J'U"'*" +,*'2B,"/%*-1-&&" %(" +,-" 1''A" &@&+-3&" /%11" >-" 2&-)21" %(" -f+-(?%(B" +,-" *D(B-" ')"
'A-*D+%'(O!
X0B8;=D6<!7911-6D70=D96!>;BFD7;>"
0D*C-+%(B"I'332(%ID+%'("/,%I,"I'3A*%&-&"&-*E%I-&"&2I,"D&"D?E-*+%&%(BG"3D*C-+"*-&-D*I,"
D(?"-(+-*+D%(3-(+G"?-A-(?&"A*%3D*%1@"'("+,-"&+DB-"')"-I'('3%I"?-E-1'A3-(+"D(?"+,-"
(D+2*-"')"+,-"+D*B-+"B*'2A&"OU,-"8(?%D("-I'('3@",D&">--("B*'/%(B"D+"D("DE-*DB-"*D+-"')"Q"
A-*"I-(+")*'3"!\VKcVK"*-&21+%(B"%("D"3%??1-"I1D&&"A'A21D+%'("')"=KKc=QK"3%11%'(O"U,'2B,"
I2**-(+1@" LK" A-*" I-(+" ')" +,-" A'A21D+%'(" %&" *2*D1G" >@" +,-" @-D*" =K=K" +,%&" )%B2*-" &,'21?"
?-I1%(-" +'" QQ" A-*" I-(+g" +,-" 1%+-*DI@" *D+-" %&" -fA-I+-?" +'" *%&-&" +'" VK" A-*" I-(+O"9-ID2&-"')"
+,-&-"+*-(?&"+,-*-"/'21?">-"3Da'*"&,%)+&" %("3D*C-+%(B"I'332(%ID+%'(O"U,-"&+*D+-B@"('/"
%&"+'")'I2&"'("%(('ED+%'("D(?"I*-D+-"(-/"(--?&O"
0D*C-+"*-&-D*I,"D(?"3D*C-+"I'332(%ID+%'(",DE-"&'")D*">--("I'()%(-?"+'"D",D(?)21"')"
I'(&23-*" B''?&" 1%C-" &'DA&G" I'&3-+%I&G" +''+,AD&+-&G" >-E-*DB-G" D(?" &-1-I+" )''?
!T\"
A*'?2I+&OU,-@" D*-" ('/" >-%(B" DAA1%-?" +'"/,%+-" B''?&" 1%C-" +-1-E%&%'(" &-+&G" *-)*%B-*D+'*&G"
D(?"/D&,%(B"3DI,%(-&O"8("*2*D1"D*-D&"+''"+,-"A2*I,D&-"')"+,-&-"B''?&"%&"'("+,-"%(I*-D&-O"
0D*C-+%(B" ')" DB*%I21+2*D1" %(A2+&" D(?" DAA1%D(I-&" %&" D1&'" B'%(B" 2A" O8+" %&" -&+%3D+-?" +,D+"
(-D*1@"QK"A-*"I-(+"')"+,-"A2*I,D&-"')"I'(&23-*"?2*D>1-&"/%11">-"%("*2*D1"8(?%D"DBD%(&+"1-&&"
+,D("PK"A-*"I-(+"+'?D@O"#1&'"%("+,-"DB*%I21+2*D1"&-I+'*G"3D(@"A*%ED+-"-(+%+%-&"D*-"1%C-1@"+'"
-(+-*"%(+'"+,-"3D*C-+%(B"')"&--?&G")-*+%1%d-*"3%f-&G"A-&+%I%?-&G"D(?"D"ED*%-+@"')"DB*%I21+2*D1"
+''1&" D(?" %3A1-3-(+&" OU,-" ?-3D(?" )'*" 8(?%D" k&A-I%)%I" ?'3-&+%I" DAA1%D(I-&" 1%C-" %?1@"k"
3%f-*&"D(?"I,DAD++%c3DC%(B"DAA1%D(I-&"'*"ADIC-?" )''?&"D(?"&/--+&" %&" 1%C-1@"+'"%(I*-D&-"
D(?" +,-&-"/%11" >-" &'1?" D+" I'3A-+%+%E-" A*%I-&O" _'*-%B(" A*'?2I+&"3D@" &''(">-" I'3A-+%(B"
/%+,"8(?%D("B''?&"a2&+"D&"'2*"B''?&"/%11">-"-fA'*+-?"+'"D"(23>-*"')"I'2(+*%-&O"
J-3D(?")'*"b2D1%+@"D(?"&+D(?D*?&"
U,-"&D1-"')"D(" %(I*-D&-?"E'123-"')"A*'?2I+"/'21?"D1&'"I*-D+-"D"+*-(?"')"3D*C-+"
&-B3-(+D+%'(" )'*" ,%B," b2D1%+@" A*'?2I+&O" 4-'A1-" /'21?" ?-3D(?" (-/-*" )-D+2*-&G" 1%C-"
B*-D+-*"2&-*c")*%-(?1%(-&&"'*"B*-D+-*"A'*+D>%1%+@"'*">-++-*"D-&+,-+%I&"'*"1''C&O"
U,-*-" D*-" D1&'" '+,-*" ?-3D(?&G" /,%I," D*-" ')" D" +-I,(%ID1" (D+2*-O" U,-@" D*-^" B*-D+-*"
*-1%D>%1%+@G" +-(?%(B" +'/D*?&" d-*'" *-AD%*" 'E-*" +,-" A*'?2I+&" h" 1%)-" +%3-G" '*" 1'/-*" -(-*B@"
I'(&23A+%'(G" '*" 1-&&-*" ('%&-" '*" *D?%D+%'(" -3%&&%'(G" '*" 1'/-*" 1-E-1&" ')" -(E%*'(3-(+"
A'112+%'(G" -+IO" U,-&-" ?-3D(?" (-/" &+D(?D*?&" ')" A-*)'*3D(I-" D(?" B*-D+-*" +-I,('1'B%ID1"
%(A2+&O"H'3AD(%-&"+,-3&-1E-&"/'21?"%(+*'?2I-"%3A*'E-?")-D+2*-&"+'"3D%(+D%("D"
I'3AD(%-&"-?B-O"8("8(?%D"+''G"&2I,"+*-(?&"/%11">-"'("+,-"%(I*-D&-"D(?"1'ID1">2&%(-&&"D(?"
%(?2&+*%-&"/%11",DE-"+'"1-D*("+'"D?a2&+"+'"+,-3O"0D*C-+%(B"I'332(%ID+%'(">@")'*-%B("
I'3AD(%-&" -E-(" +,*'2B," &D+-11%+-c" >D&-?" U$" D(?" '+,-*" %()'*3D+%'(" &-*E%I-&" /%11" D1&'"
D))-I+" 8(?%D" I'(&23-*" A*-)-*-(I-" k-E-(" %(" *2*D1" 8(?%DO" 4*-&-(+1@G" 8(?%D" %(?2&+*%-&" '*"
3D*C-+&"'*"I'(&23-*")'11'/"+*-(?&"/,%I,"D*-"')+-("D"?-ID?-"'*"3'*-"'1?"%("+,-"?-E-1'A-?"
/'*1?O"U,%&",D&"+'"I,D(B-O"
$D12-"&@&+-3&"%("3D*C-+%(B"I'332(%ID+%'("
#" b2-&+%'(" +,D+" D*%&-&" %&" *-BD*?%(B" +,-" A1DI-" ')" ED12-" &@&+-3" %(" 3D*C-+%(B"
I'332(%ID+%'(O"8&"%+"(-I-&&D*@"+'"A2*&2-"+,%&"h'(-"k"2A3D(&,%AYG"I,D*DI+-*%&+%I"')"
.-I-&&D*@e" " HD(" /-" ('+" *%?" '2*&-1E-&" ')" +,-" D?E-*+%&-3-(+" I21+2*-e" 8)" +,-" &'I%D1" '*"
I'33-*I%D1" A2*A'&-" ')" D?E-*+%&-3-(+" %&" '(1@" +'" A*'E%?-" +-I,(%ID1" D(?" I'33-*I%D1
!QK"
%()'*3D+%'(" +'" +,-" A-'A1-G"/,@" ('+" B%E-" %()'*3D+%'(" )*--1@" '(" ?-3D(?"'*" ?%&A1D@" %+" %("
&2%+D>1-" A2>1%I" A1DI-&" %(" D(" %(-fA-(&%E-" 3D((-*G" D&" +,-" D?E-*+%&-3-(+" I'&+&" D*-" *-1D@"
)%(D11@">'*(-">@"+,-"I'(&23-*",%3&-1)O"
:(" +,-" )DI-" ')" %+G"3D(@"')" +,-&-" %?-D&" D*-"/'(?-*)21O" 92+" %(" *-D1" 1%)-" +,-" >-,DE%'*"
AD++-*(" ')" A-'A1-" D*-" E-*@" I'3A1-f" D(?" +,-*-" D*-" 3D(@" %(?%E%?2D1" ED*%D+%'(&O" .'+"
-E-*@>'?@",D&"+,-"AD+%-(I-"+'"+,23>"+,*'2B,"D"?%*-I+'*@"+'"&-D*I,"'2+"?%))-*-(+"A*'?2I+&"
OU,-*-)'*-" G" D?E-*+%&%(B" >-I'3-&" D" 2&-)21" &'2*I-" ')" %()'*3D+%'(" O" X2*D1" D(?" 2*>D("
?/-11-*&G"A''*"D(?"*%I,"G"1%+-*D+-"D(?"%11%+-*D+-"G"D11"*-b2%*-"D")1'/"')"%()'*3D+%'("%("ED*%'2&"
)'*3&" +'"C('/" G+'"I,''&-"D(?" +'" )--1" +,D+" +,-@"D*-"('+">-%(B" 1-)+">-,%(?" O"9-&%?-&" +,-@"
,-1A"A-'A1-"&DE-"+%3-"/,%I,"/'21?">-"2&-?"%("&-D*I,%(B"'2+"%()'*3D+%'("O"X-BD*?%(B"+,-"
I'(+-(+&"D(?"+,-"-+,%I&"')"+,-&-"3-&&DB-G"3'&+",-D1+,@"&'I%-+%-&" 1-D*(",'/"+'"I'3-"+'"D"
?@(D3%I"-b2%1%>*%23O"
8+" %&" E-*@" %(+-*-&+%(B" +'" ('+-" +,D+" D&" +,-" A,@&%ID1" A*'?2I+%'(" %(" +,-" DB*%I21+2*-" D(?"
3D(2)DI+2*%(B" &-I+'*" -fAD(?&G" +,-" ?-3D(?&" '(" 3D*C-+%(B" I'332(%ID+%'(" B*'/G" +,2&"
A*'E%?%(B" A-'A1-" D??%+%'(D1" -3A1'@3-(+" 'AA'*+2(%+%-&O" U,%&" %&" D(" D*-D" /,%I," ID(" >-"
B%E-("D"+,*2&+O"
U,-")2+2*-"&I-(D*%'"')"3D*C-+%(B"I'332(%ID+%'("
#3'(B"+,-"(-/-*"+-I,('1'B%-&"/,%I,"D*-"1%C-1@"+'"-(+-*"+,%&"D*-D"D*-^"I'3A'&%(B"g"
321+%"kD??%+%'(g"A'*+D>1-" 8U" +-I,('1'B%-&" g" D2+'3D+%I" 1D(B2DB-" +*D(&1D+%'(" g" ,D(?"k,-1?"
+-*3%(D1&" g" &D+-11%+-" ?%B%+D1" D2?%'" k>*'D?ID&+%(B" g" +,*--" k?%3-(&%'(D1" /'*C&+D+%'(&" g"
-f-3A+%'(" )'*" DII-&&" I'(+*'1" g" &@&+-3" )'*" E%-/-*" I-(&'*%(B" g" &+-*-'" 32&%I" D2?%'" D(?"
%(+-*DI+%E-"*D(?'3"?D+D"B*DA,%ID1"2&-*"%(+-*)DI-"O"
8+" %&" -&&-(+%D1" +,D+" 8(?%D(" %(?2&+*%-&" /'*C" %(" D?ED(I-" +'" DIb2%*-" '*" ?-E-1'A"
+-I,('1'B%-&"%("+,-&-"D*-D&"&'"+,D+"+,-@"ID(">-"3D*C-+"1-D?-*&"%("8(?%D"D(?"A'&&%>1@"-fA'*+"
+'"'+,-*"I'2(+*%-&"D&"/-11"O"8)"+,-@"?'"('+"+DC-"DI+%'("('/G"%+"%&"1%C-1@"+,D+"+,'&-"%("(--?"')"
A*'E%?%(B" &2I," &-*E%I-&" /%11" %3A'*+" A*'?2I+&O" U,-" >2&%(-&&" E'123-&" %(" 3D(@" ')" +,-&-"
D*-D&" *D(B-" )*'3" D" )-/" +-(&" ')" I*'*-&" +'" &-E-*D1" +,'2&D(?" I*'*-&" A-*" @-D*" OUD>1-" " VO!"
A*'E%?-&"D">*%-)"A%I+2*-O
!Q!!
I%EKL!d(C!
)B95;7=;,!!Q9.-1;!9J!?911-6D70=D96!E->D6;>>!&'&'!
S&++;-.!$;)+*1()!F,=!:)*)(,S"
!\\Q""""""""""""""""""""""""""""""""#I+%E%+@""""""""""""""""""""""""""""""""""""""""""""""""""""""""""=K=K!
X0B8;=D6<!>;BFD7;>"
]K""""""""""""""""""""""""""""""""""""0D*C-+"*-&-D*I,"""""""""""""""""""""""""""""""""""""""""""""VKKc!KKK"
PQKK""""""""""""""""""""""""""""""""#?E-*+%&%(B"""""""""""""""""""""""""""""""""""""""""""""""!VKKKc=KKKK!
X0>>!1;,D0U"
!QKK"""""""""""""""""""""""""""""""A*-&&"MH%*I21D+%'("n&D1-N"]QKKcLKKK"
!QKK"""""""""""""""""""""""""""""""U$"M<')+/D*-N"LKKKcVKKK"
=KK""""""""""""""""""""""""""""""""""HD>1-"'A-*D+%'(&" VKKKc!KKK!
P&++;-.!$;)+*1()!F,=!X)*)(,S!
L6=;B=0D61;6=!1;,D0U"
!KKK"""""""""""""""""""""""""""""""""""""""H%(-3D"MA*'?2I+%'("j""""""""""""""""""""""""""""""""""""""TKKKcQKKK"
I'11-I+%'(&N"
PKK"""""""""""""""""""""""""""""""""""""""""02&%I" =QKKcPKKK"
PQ"""""""""""""""""""""""""""""""""""""""""""021+%3-?%D"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!KKKc!=KK
!Q="
PQKKK""""""""""""""""""""""""""""""""""""U-1-I'3"
U-1-A,'(-"jJD+D""""""""""""""""""""""""""""""""""""""""""""""]KKKKKc"
LKKKKK!
Q*$(,H!P!N! &..!(,$#6-$(,!-)(!-$"!\\Q! <)#:(,=!
P=S!X#+(6-!#+:.;0(,!!<)*0;:$#*+!6(-+$!'*)!X-2.(!-+0!C^!=!
C%()(!#,!,*6(!*1().-<!2($B((+!6(0#-!-+0!(+$()$-#+6(+$!=!
PM*;):(H"U8_#H!$(:%+*.*93!1#,#*+"=K=K"^!M()1#:(,!S"
0D*C-+%(B"1'B%&+%I&G"+*D?%(B"D(?"?%&+*%>2+%'("
RDE%(B" I'332(%ID+-?" %()'*3D+%'(" D>'2+" A*'?2I+&" D(?" B''?&G" %+" %&" (-I-&&D*@" +'" *-DI,"
+,-3"+'"+,-"I'(&23-*O"U*D?%(B",D&">--("+,-"%3A'*+D(+"&-*E%I-&"DI+%E%+@"+,D+")21)%11-?"+,%&"
(--?"O"
<-*E%I-&"1%C-"/,'1-&D1-"D(?"*-+D%1"+*D?-G"/D*-,'2&%(BG"+*D(&A'*+D+%'("D(?"?%&+*%>2+%'("
/,%I,"1%(C"A*'?2I-*&"n3D(2)DI+2*-*&"/%+,"+,-"I'(&23-*&"D*-"+,-"I'3A'(-(+&"')"
3D*C-+%(B" 1'B%&+%I&O" U,-&-" &-*E%I-&" DII'2(+-?" )'*" =!OQ" A-*" I-(+" ')" 6J4" %(" !\\Pc\TO"
0D*C-+%(B" 1'B%&+%I&" D*-" *-b2%*-?" )'*" +,*--" >*'D?" ID+-B'*%-&" G" (D3-1@" DB*'" k>D&-?" )''?"
A*'?2I+&G" 3Da'*" 3D+-*%D1&" D(?" %(+-*3-?%D+-" B''?&" 1%C-" I'D1G" &+--1G" I-3-(+G" -+IO" D(?"
I'(&23-*"B''?&"1%C-"?2*D>1-&G"+-f+%1-&G"&'"'(O"
U,-"+*D?%(B"D(?"?%&+*%>2+%'("')"+,-"D>'E-"ID+-B'*%-&"%&"?'(-">@"+*D?%+%'(D1"3-+,'?&"')"
I'33%&&%'(%(B"/,'1-&D1-"?%&+*%>2+'*&"D+"&-1-I+-?"I-(+-*&"D(?"D"1D*B-"(23>-*"')"*-+D%1-*&O"
J2-"+'"%(I*-D&-"%("6J4G"D"1D*B-"E'123-"')"A*'?2I+"I,D(B-&"D*-"-fA-I+-?""/%+,%("D"?-ID?-"
%("+*D?-"D(?"3D*C-+%(B"1'B%&+%I&O"
_2+2*-"&I-(D*%'"%("+*D?%(B"
<'3-" )" +,-" +*D?%+%'(D1" '2+1-+&" %(" E%11DB-" D(?" &3D11" +'/(&" D*-" '(-"k&+'A" &,'A&O"U,'2B,"
'A+%'(&"3D@">-" 1%3%+-?G" +,-@"ID("3--+"D"*D(B-"')"*-b2%*-3-(+&O"8("3'&+"')" +,-"D?ED(I-"
I'2(+*%-&" +,%&" )-D+2*-" ,D&" +DC-(" +,-" &,DA-" ')" >%B" *-+D%1" I,D((-1&" D(?" &,'AA%(B" 3D11&G"
/,%I,"D*-"('/"ID+I,%(B"'(G"%("+,-">%BB-*"8(?%D("I%+%-&O"9@"B'%(B"+'"'(-"A1DI-G"'(-"ID("B-+"
D13'&+" D(@" %+-3" ')" " ?'3-&+%I" I'(&23A+%'(O" #&" +,-" A*'?2I+%'(" ')" B''?&" D(?" +,-%*"
I'(&23A+%'(" B*'/&G" /,%I," %&" ?-)%(%+-1@" -(E%&%'(-?" )'*" '2*" " I'2(+*@" G" +,-&-" &,'AA%(B
!QP"
3D11&" D(?" >%B" *-+D%1" &+'*-&" /%11" >-" %(" A'&%+%'(" O" F-+" '2*" +-I,('1'B%&+" D(?" %(?2&+*%D1%&+&"
?*-D3"D(?" +,%(C"')" >2&%(-&&"'AA'*+2(%+%-&" %("-b2%AA%(B"&2I," >%B"3D11&"D(?"3D%(+D%(%(B"
+,-3O"U,-*-" %&" ('" *-D&'("/,@"3D(@"')" +,-&-"DII-&&'*%-&"D(?" )%++%(B" ID(('+">-"3D?-" %("
8(?%DO"W-" -3A,D&%d-" +,%&" >-ID2&-" D+" A*-&-(+" &-E-*D1" %+-3&" )'*" '2*" )%E-" k&+D*" ,'+-1&" D*-"
%3A'*+-?"&%(I-"+,'&-"')"I'3AD*D>1-"b2D1%+@"D*-"('+"DED%1D>1-"%("+,-"I'2(+*@"O8+""%&"-&&-(+%D1"
+,D+"D"I'2(+*@" +,D+"ID(" +D3-"D+'3%I" "-(-*B@"'*"A*'?2I-"I'3A1-f"3-+D112*B%ID1"A*'?2I+G"
&,'21?">-"D>1-"+'"3DC-"*-1D+%E-1@"&%3A1-*"A*'?2I+&"2&%(B"8(?%D("C('/,'/""D(?"?-&%B(&O"
H'3%(B"+'"ADIC%(BG"/,-*-E-*"A'&&%>1-"/-"ID("DE'%?"+,-"'1?-*"*'2+-"')"A1D&+%I&G"+,'2B,"
+,-@"D*-"(-I-&&D*@" )'*"&'3-"A*'?2I+&O"9%'"k?-B*D?D>1-"" +DA%'ID"k1%(C-?"ADA-*"ADICDB-&"
,DE-" >--(" ?-E-1'A-?" %(" '2*" I'2(+*@O" W,@" ('+" +*@" 3D(@" &2I," %(('ED+%'(&" %(&+-D?" ')"
D?'A+%(B"3-*-" %3%+D+%'(&"')"'+,-*"D?ED(I-?"I'2(+*%-&e"#('+,-*" %3A'*+D(+" +-I,('1'B%ID1"
%(A2+" %(" 3D*C-+%(B" " 1'B%&+%I&G" +*D?%(B" D(?" ?%&+*%>2+%'(" %&" B'%(B" +'" >-" &D+-11%+-"
I'332(%ID+%'("D(?"I'3A2+-*"(-+/'*C&O"W-"')+-(")'*B-+"/-"D*-"D"ED&+"I'2(+*@"')"D>'2+"
PO=" 3%11%'(" &bO" C3G" /,-*-" B''?&" 3'E-" >@" +*2IC&" '*" *D%1/D@O" #" )D&+" kB*'/%(BG" ,%B,c"
E'123-"-I'('3@"ID(('+" &2&+D%(" %+&"?%&+*%>2+%'("I,D((-1&"/%+,'2+"D" )%*&+" k*D+-"I'3A2+-*"
(-+/'*C" D(?" &D+-11%+-" I'332(%ID+%'(" I,D((-1&O" W,@" &D+-11%+-e" H'3A2+-*" (-+/'*C" D*-"
A'&&%>1-"-E-("/%+,")%>*-&O"92+"D"+*2ICG"B''?&"+*D%("'*"D"&,%A"-DI,"*-b2%*-&"?%))-*-(+"1%(C&O"
0'>%1-" I'332(%ID+%'(" ID(" >-" -&+D>1%&,-?O" <D+-11%+-" (DE%BD+%'(D1" " <@&+-3" ,-1A&" %("
A%(A'%(+%(B"+,-"A'&%+%'("D&"/-11O""0'>%1%+@"')">2&%(-&&A-*&'(&"D(?"+*D?-*&"%&"D1&'"I*2I%D1O"
U,-"/D@" +,-@" ,DE-" +DC-(" +'"I-1121D*"'*"3'>%1-"A,'(-&" %&" *-3D*CD>1-O":(I-"/-"A*'E%?-"
B''?" "I'3A2+-*" "(-+/'*C&"D&"/-11"D&" *-B21D*"D(?"3'>%1-I'332(%ID+%'(&G/-" "'2*&-1E-&"
/%11">-"&2*A*%&-?"">@"+,-"%(B-(%'2&"2&-"A-'A1-"ID("A2+"+,-3"+'O"U,-">D**%-*">-+/--("*2*D1"
D(?"2*>D("D*-D&"/%11">-">*'C-(">@"+,-"&-*E%I-"&-I+'*"%("I'332(%ID+%'(&O!
\-=-B;!>7;60BD9!D6!10B8;=D6<!.9<D>=D7>"
6*-D+-*"&A--?"%("+*D(&A'*+D+%'("/%11">-"D"C-@"?-3D(?G"D&"D1&'+,-"?-3D(?")'*"1D*B-*"1'D?&"
,DE%(B"B*-D+-*"*-DI,O"<A-I%D1%d-?I'(+D%(-*&G"')+-("/%+,"I'(+*'11-?"D+3'&A,-*%I"I'(?%+%'(&"
M)'*I'(+*'1G-+ION/%11">-"*-b2%*-?O"8("D??%+%'("+,-*-"/%11"D*%&-"?-3D(?")'*"D"&%(B1-"I'(+D%(-*"
+,D+" ID(" >-" &-(+" >@" D%*G" *'D?" G" *D%1" '*" &,%AO" U,%&" %&" ID11-?" " IDAD>%1%+@)'*" 321+%3'?D1"
+*D(&A'*+D+%'(O" 8(+-*(D+%'(D11@" 3D(@" &2I," &+D(?D*?%d-?" I'(+D%(-*&" D*-" 2&-?O" 8+" /%11" >-"
D?ED(+DB-'2&" %)" 8(?%D(" %(?2&+*%-&" >-B%("DIb2%*%(B"&2I,"D"IDAD>%1%+@" ('/"D(?"D?DA+" %+" +'
!QT"
'2*" I'(?%+%'(&O"U,-*-"/%11" >-" D" B*-D+" ?-3D(?" )'*" &2I," I'(+D%(-*&" " %(" D>'2+" )%E-" +'" +-("
@-D*&O"
W%+," " 1D*B-*"ID*B'-&G"*-b2%*-3-(+&"")'*">-++-*"ID*B'",D(?%1%(B)DI%1%+%-&G"3'?-*(%d-?"
ADICDB%(B" &@&+-3&" D(?" 1'D?%(B" D(?" 2(1'D?%(B" &@&+-3&" /%11" %(I*-D&-O" #" (D+2*D1"
*-b2%*-3-(+"/'21?"+,-(">-" )'*" 1D*B-"3'?-*("/D*-,'2&-O":(I-"+,-&-"D*-">2%1+"D(?"&%(I-"
+,-*-"/%11">-"A*-&&2*-""D+"+,-"+%3-"')"?-1%E-*@G"+,-""I'((-I+%E%+@">-+/--(")D*3&G")DI+'*%-&G"
B'?'/(&G" /D*-,'2&-G" " ,-D?" '))%I-&G" )%-1?" '))%I-&" &2A-*3D*C-+&" " D(?" D(?" '+,-*" *-+D%1"
'2+1-+&"/%11">-"I*2I%D1O"U,-&-"I'((-I+%E%+%-&"/%11">-">@"*'D?G"*D%1"'*"/D+-*/D@&"D&"/-11"D&"
+,*'2B,"?D+Dn"E'%I-""I'332(%ID+%'(O"
#(" %3A'*+D(+" A'%(+" (--?&" +'" >-" -3A,D&%d-?" ,-*-"/,%I," DAA%1%-&" +'" D11" " D*-D&G" D(?"
AD*+%I21D*1@" +'" +,%&" D*-D" ')" &-*E%I-&O" <%3A1-" +*D%(%(B" /%+," E%&2D1&" D(?" %(" +,-" /'*C-*&Y"
1D(B2DB-&"%&"""/,D+""%&"*-b2%*-?""+'"-(&2*-"+,D+"A-'A1-"A-*)'*3"/-11O"8)""/-"?'"""('+"%(E-&+"
%("'2*"/'*C)'*I-"D(?"+*-D+"+,-3"D&"2(&C%11-?" 1D>'2*"/,%I,"ID(">-"?*D/("'(""3-*-1@" )'*"
3D(2D1" 1D>'*G"+,-%*"A-*)'*3D(I-"/%11"D1&'">-"&%3%1D*O"U,-*-" %&"B*-D+"&I'A-")'*"-?2ID+%(B"
A-'A1-" )'*"3Df%3%d-" -))%I%-(+" 2&-" ')" *-&'2*I-&O" _'*" %(&+D(I-G" QA-*I-(+" ')" )2-1" 2&-?" )'*"
E-,%I1-&"ID(">-"&DE-?"%)"?*%E-*&"D*-"B%E-("A*'A-*"+*D%(%(B"%("H'**-I+"D(?"-(-*B@c-))%I%-(+"
?*%E%(B" ,D>%+&^"?'(Y+"A*-&&" +,-"DII-1-*D+'*"2((-I-&&D*%1@G" DE'%?">*-DC%(B"&2??-(1@G" &1'/"
?'/(" -D*1%-*G-+IO>2+" ?'-&" D" ('*3D1" ?*%E-*" C('/" +,D+" +,-&-" )DI+'*&" " D*-" /%+," +,-"
+,-*3'?@(D3%I&"')"-(B%(-&"D(?")2-1"">2*(%(Be"<%3%1D*1@G"%)"+,-"&+'E-Y&")1D3-"%&"C-A+"D+"D"
1-E-1"+,D+"/%11"A*-E-(+"%+"1DAA%(B"D*'2(?"+,-"&%?-&"')"+,-"E-&&-1"D(?"a2&+">-"2(?-*"+,-"A'+G"
+,'2B,"%+"3D@"+DC-")-/"3%(2+-&"3'*-"+'"I''C""")''?G"+,-*-"/%11">-"D"I'(&%?-*D>1-"&DE%(B"
')" A*-I%'2&" BD&O" <2I," /D&+DB-" -fDI+&" D" ,-DE@" A*%I-" '(" +,-" -I'('3@O" 0D*C-+%(B"
I'332(%ID+%'("&C%11&"ID(">-"?-A1'@-?"E-*@"-))-I+%E-1@"+'"%3AD*+"I'(+%(2D1"+*D%(%(B"+'"'2*"
/'*C)'*I-"D(?"I2*>"&2I,"/D&+DB-O"U,D+"/%11">-"D("-fI-11-(+"&-*E%I-"%(?2&+*@"%+&-1)O!
IB0,;!AB919=D96!>;BFD7;>".-/" B1'>D1" +*D?-" D**D(B-3-(+&" D*-" -fA-I+-?" +'" D??"7<p" =!Pc" =LT" >%11%'(" D((2D11@" +'"
/'*1?"%(I'3-O"U,-"6#UU"&-I*-+D*%D+"A*'a-I+&"+,-"1D*B-&+"%(I*-D&-"D+"]K"A-*I-(+""')""/'*1?"
+*D?-" %(" +,-" "D*-D"')" +-f+%1-&"D(?"I1'+,%(B" )'11'/-?" ">@"DB*%I21+2*-G" )'*-&+*@"D(?" )%&,-*@"
A*'?2I+&O"U,-" A'+-(+%D1" BD%(" ')" 8(?%D(" -fA'*+&" %&" -&+%3D+-?" D+" p=OL" >%11%'(" M+,-" I2**-(+"
-fA'*+" %&"p=K">%11%'(NO"5))-I+%E-" +*D?-"A*'3'+%'(" &-*E%I-&"/'21?">-" *-b2%*-?" +'"+DA"(-/"
3D*C-+&"D(?"%(I*-D&-"'2*"-fA'*+&O
!QQ"
<,'*+c+-*3" DI+%E%+%-&" M)%E-" @-D*&N" &,'21?" %(I12?-" &+*-(B+,-(%(B" 8U" )'*" +*D?-" D(?"
>2%1?%(B"(-I-&&D*@"%()*D&+*2I+2*-"")'*"3--+%(B""I2&+'3-*"*-b2%*-3-(+&O"0-?%23n1'(Bc+-*3"
DI+%E%+%-&M+-(" +'" +/-(+@" @-D*&N" " &,'21?" %(I12?-" 1D*B-" B1'>D1" " ?D+D>D&-&G" I'332(%ID+%'("
1%(C&"D(?"%3A*'E-?""+*D(&A'*+D+%'("D(?">D(C%(B")DI%1%+%-&O!
I9-BD>1"0'&+"A-'A1-"D*-")D3%1%D*"/%+,"+,-"+*D?%+%'(D1"I'(I-A+&"')"U'2*%&3^" ,'+-1&G" DII-&&" +'" -D&@" " +*D(&A'*+G" &A-I%D1" A1DI-&" +'" E%&%+G" &+D*+%(B" )*'3" +,-"
UDa0D,D1G"6'DG";D(@DC23D*%G"+,-">-D2+%)21".'*+,c5D&+G"I'D&+D1"8(?%D"D(?"+,-"%&1D(?&G"+,-"
?-&-*+&" D(?" +,-" R%3D1D@D&O" 92+" +,-" 3'?-*(c?D@" +'2*%&+" -fA-I+&" &'3-+,%(B" 3'*-" D(?"
?%))-*-(+O"R-"I'3-&",-*-"('+"3-*-1@"+'"-D+G"?*%(C"D(?"3DC-"3-**@O"0D(@"/D(+" +'"1-D*("
3'*-" D>'2+" +,-" A-'A1-" +,-@"3--+" D(?" +,-" A1DI-&" +,-@" E%&%+O"W-" ID(" ID11" %+" hI21+2*D1Y" '*"
hC('/1-?B-"'*%-(+-?Y" +'2*%&3O"U,-*-" %&"A1-(+@"')" &I'A-" )'*"3--+%(B"&2I,"D" *-b2%*-3-(+"
+,*'2B,"+,-",-1A"')"%()'*3D+%'("+-I,('1'B@O"021+%A*-&-(+D+%'(&"ID(">-"3D?-"DED%1D>1-"%("
3'&+" +'2*%&+" &A'+&"'(" +,-"32&%IG" I21+2*-G",%&+'*@G" >%'?%E-*&%+@"D(?"'+,-*" )-D+2*-&"')" +,D+"
I'21?"'A-(">@"B%E%(B")'*-%B("+'2*%&+&"B1%3A&-&"')"&2I,"%()'*3D+%'(G"%(I12?%(B"1'ID1"3DA&G"
>@" -1-I+*'(%I"3D%1" -E-(" D&" +,-@" D*-" A1D((%(B" " +,-%*" +*%A&s"U,-"A'&&%>%1%+%-&" D*-"3D(@g" %+"
'(1@"*-3D%(&"+'"+*@"+,-3O!
b-106!B;>9-B7;>!,;F;.9A1;6="#&"32&+",DE-">-I'3-"&-1)c-E%?-(+G"+,-"&-*E%I-&"&-I+'*"%&""?'3%(D+-?">@",23D("(--?&G"
I'3)'*+&"D(?"I'(E-(%-(I-O".D+2*D11@G"?-E-1'A3-(+""')",23D("*-&'2*I-&">-I'3-&"D("
%3A'*+D(+"*-b2%*-3-(+")'*",DE%(B""D"&-*E%I-&"&-I+'*O"W-",DE-"&,'/("D")-/"-fD3A1-&"%("
-D*1%-*"&-I+%'(&O"U,-@"E-*@"DI+%E%+@"')",23D("*-&'2*I-"?-E-1'A3-(+"D(?"I'(+%('2&"&C%11"
2AB*D?D+%'("%("+,-")DI-"')"I,D(B%(B+-I,('1'B%-&"'*"A*-)-*D>1@"%("D?ED(I-""A*-AD*D+%'("')"
1%C-1@"I,D(B-&"%("+-I,('1'B%-&"D(?"I'(&23A+%'(""&+@1-&"%&"B'%(B"+'">-"D('+,-*"3Da'*"
I'3A'(-(+"')"+,-"&-*E%I-&""&-I+'*OD11"')"2&"",DE-"+'"2(1-D*-("D"1'+G"1-D*("D"1'+GI'(+%(2-"+'"
1-D*("D"1'+G"2&-"(-/"D%?&"%("1-D*%(BG"+-DI,"'+,-*&"D(?"&'"'(O"
#&"+,-"7."R23D("J-E-1'A3-(+"X-A'*+"')"!\\Q""3DC-&""I1-D*G"3D&&%E-"%(E-&+3-(+&"
%(",23D("IDA%+D1"D(?"?-E-1'A3-(+"')"3D(DB-*%D1"D(?"+-I,('1'B%ID1" &C%11&"D*-"(--?-?" %("
?-E-1'A%(B""I'2(+*%-&"%)"+,-@"D*-"+'"%3A*'E-"+,-%*"A-'A1-&Y"1%E%(B"&+D(?D*?&O"8(?%D"%+&-1)""%&"
*D(C-?" E-*@" 1'/G" D+" !PT"+," A1DI-" '2+" ')" !LQ" " I'2(+*%-&G" " >-1'/" I'2(+*%-&" 1%C-"
0D1D@&%DGU,D%1D(?"D(?""<*%1D(CDO"#&"32I,"D&"LP"A-*"I-(+"')"'2*"A'A21D+%'(",D&"('"A*'A-*
!Q]"
&D(%+D+%'(G"D(?""=!"A-*"I-(+" 1DIC"DII-&&"+'"?*%(C%(B"/D+-*O" "U,-" )'11'/%(B"+D>1-"&-+&"'2+"
+,-")2+2*-"I,D11-(B-&"D(?"4*%'*%+%-&!
I%EKL!!d(&!
b4$U!\-=-B;!?@0..;6<;0!06,!ABD9BD=D;>"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"&-*%D1""""""""""""""""""""""#I+%E%+@""""""""""""""""""""""""""""""""""""U%3-c)*D3-"('" )'*"I'3A1-+%'("
M%("@-D*&N"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"!! "1AB9F;1;6=!D6!ABD10BG!
06,!>;796,0BG!;,-70=D96"
b2D1%+@"D(?"I'3A-+-(I-"')"+-DI,-*&" Qc!K"
5(+*-A*-(-2*&,%A":*%-(+-?""-?2ID+%'(""""""""""""""""""""""""""""""""""Qc!K"
7&-"')"321+%3-?%D"D(?":+,-*"3D&&"3-?%D"+-I,('1'B%-&" !Kc!Q"
=! ;1A9:;B1;6=!!9J!!:91;6"
&'I%D1"-(B%(--*%(B"/%+,"/%?-&A*-D?"&'I%D1""D/D*-(-&&""""""""""""""""""""Qc!K"D(?"ID3AD%B("
U-I,('1'B%ID1"%(+-*E-(+%'(&"_'*"%3A*'E-?"/'3-(Y&""""""""""""""""""""""""""""Qc!Q"-?2ID+%'(!
O!!!!!!!!!!!!!!!!!!!!!!!!!D6F;>=1;6=!D6!>7D;67;!06,!
=;[email protected]<G"
X-'*%-(+D+%'("')"XjJ"#I+%E%+%-&""3'*-"")'I2&&-?""""""""""""""""""""""""Qc!K
!QL"
!L="
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"&-*%D1"""""""""""""""""#I+%E%+@""""""""""""""""""""""""""""""""U%3-c)*D3-"('""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""")'*""I'3A1-+%'("
M%("@-D*&N"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
F-D?-*&,%A"+*D%(%(B"D(?"<C%11&"?-E-1'A3-(+")'*"8(&+%+2+%'("">2%1?%(B")'*""""""""""""""""""""""""""""""""""Qc!K".D+%'(D1"1D>'*D+'*%-&"D(?"8(&+%+2+%'(&"
J-E%&%(B"RXJ"A*'B*D33-&"#(?"&+*D+-B%-&")'*"(D+%'(D1""""""""""""""""""""""""""""Qc!K"FD>'*D+'*%-&"D(?"%(&+%+2+%'(&"
T! L6=B;AB;6;-B>@DA!,;F;.9A1;6="
J-E-1'A3-(+"')"-(+*-A*-(-2*%D1""""""""""""""""""Qc!K"<C%11&"D(?""-3A1'@3-(+"
6-(-*D+%'(">@"+,-"6'E-*(3-(+".6:&""D(?")%(D(I%D1"%(&+%+2+%'(&""""""""""""""""""""Qc!K"
H*-D+%'("""')""-(+*-A*-(-2*%D1"D++%+2?-"#(?"&A%*%+G""DI,%-E-3-(+"3'+%ED+%'("-+IO"""""""""Qc!K"
83A*'E-?"DED%1D>%1%+@""D(?"3D(DB-3-(+"')"I*-?%+")DI%1%+%-&""""""""""""""""""""""""""""""""""""""""""""Qc!K!
^!!!!!!!!!!!!!!b-106!B;>9-B7;>!,;F;.9A1;6=!
49.;!9J!!ABDF0=;!!!0<;67D;>!06,!#NR>"J-E-1'A3-(+"')"-(+*-A*-(-2*%D1"u"<C%11&"D(?"%(&+%+2+%'(">2%1?%(B"""""""""""""""""""""""""Qc!Q"HDAD>%1%+%-&"')".6:&!"1AB9F;1;6=!9J A;BJ9B1067;!+G!
c!!!!!!!!!!!!!!!!!!!!!!N9F;B61;6=!0<;67D;>!06,!D6>=D=-=D96>"
RXJ"A*'B*D33-&"*-1D+-?"+'"9*%(B%(B""%("D++%+2?%(D1"D(?"9-,DE%'2*D1"I,D(B-&"')" Qc!K"6'E-*(3-(+"A-*&'((-1
!QV"
!LP"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"&-*%D1""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""U%3-c)*D3-"('"""""""""""""""""""""""""DI+%E%+@""""""""""""""""""""""""""""""""")'*"I'3A1-+%'("
8()2&%(B"A*')-&&%'(D1%&3"%("6'E-*(3-(+"&-*E%I-&"""""""""""""""""""Qc!K"
J-E-1'A3-(+"')"1-&&"3D(A'/-*"#(?"%3A*'E-?"3-I,D(%dD+%'("""""Qc!K"8("B'E-*(3-(+"&-*E%I-&!7967;B6!J9B!=@;!;6FDB961;6="83A*'E-?"-(E%*'(3-(+D1"#/D*-(-&&""D(?"-?2ID+%'("D3'(B"H'33'("A-'A1-"+,*'2B,""3D&&"H'332(%ID+%'(""+-I,('1'B%-&"#(?"I'(+DI+"A*'B*D33-&"""""""""""""""Qc!K"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"&'2*I-^U8_#H"*-A'*+c U-I,('1'B@"E%&%'("=K=K^&-*E%I-&"
8+"(--?&""""D1&'"+'">-"*-D1%d-?"+,D+"%)"/-"D*-"+'"-))-I+%E-1@"?-E-1'A"'2*",23D("*-&'2*I-&"/-"
32&+"?-I-(+*D1%d-?""+,-"RXJ")2(I+%'("&'"+,D+"""&-1)cI'**-I+%(B"1-D*(%(B"""&@&+-3&"?-E-1'A"
D+" +,-" 1'ID1" 1-E-1O"0'?-*(" +-I,('1'B%-&" %(I12?%(B" 8U",-1A" +,-"A*'I-&&" E-*@" "B*-D+1@"D(?"
A*'E%?-" (-/" 'AA'*+2(%+%-&OU-I,(%ID1" D(?" 3D(DB-3-(+" I'(&21+D(I@" &-*E%I-&" " RXJ" " %&"
%+&-1)"D"C('/1-?B-"D(?"&C%11">D&-?"DI+%E%+@"%("B*-D+""?-3D(?"%("+,-"+-I,('1'B@"&'I%-+@"')"
+'?D@O"92+"+,-"I'3A1-f""+-I,('1'B%-&"%("'A-*D+%'("D(?"+,-"I'(+%(2D1"?-3D(?&")'*"+,-3"%("
?D@c+'c?D@"1%)-"*D(B%(B")*'3"?'3-&+%I"'A-*D+%'(&"+'"?-)-(I-G"
X-b2%*-" +,D+" +,-*-"D*-"('"I*%+%ID1" )D%12*-&O" 8(" )DI+G" +,-"'>a-I+%E-" "')"3'&+"3D(2)DI+2*-*&"
D(?"&-*E%I-""A*'E%?-*&"%&"+'"A*'E%?-"3D%(+-(D(I-c)*--"&@&+-3&O"5D*1%-*G"*%B'*'2&"?-3D(?&"
)'*"b2D1%+@"D&&2*D(I-"D(?"*-1%D>%1%+@"/-*-"*-&+*%I+-?"3D%(1@"+'"+,-"D*-D&"')""&+D(?D*?&"D*-"
?-3D(?-?" %(" &-E-*D1" I%E%1%D(" DAA1%ID+%'(&O" :(" +,-" '(-" ,D(?G" +-I,('1'B%ID1" A*'B*-&&" %&"
*-?2I%(B" " " +,-" A*'?2I+" " 1%)-c%(" ,23D(" >'?%-&O" O.'/D?D@&G" +,-" ,%B,-&+" &A-I%)%ID+%'(&" ')"
b2D1%+@" I@I1-" +'" D" )-/" @-D*&O-D*1%-*G" A-'A1-" /-*-" ,DAA@" /%+," D" 3-D(" +%3-" >-+/--("
)D%12*-&M0U9_N" ')" D" )-/" '*" &-E-*D1" +,'2&D(?" ,'2*&O+,D+" 3-D(&" D(@" -b2%A3-(+" " '(I-
!Q\"
?-1%E-*-?" '*" *-AD%*-?" /'21?" A-*)'*3"/%+,'2+" D(@" 3Da'*" A*'>1-3" )'*" D" )-/" '*" &-E-*D1"
+,'2&D(?",'2*&G/,%I,"/D&"&A-I%)%-?"D&"+,-"0U9_OU,-"A*-&-(+c"
?D@"+*-(?"%&"('+"+'",DE-"D")D%12*-"?2*%(B"+,-"-(+%*-"A*'?2I+"1%)-""I@I1-G/,%I,"3D@">-"'(1@"D"
)-/"@-D*&">-ID2&-"')"I'&+D(+"2A?D+%2(BO"U,'&-"/,'">2@"A-*&'(D1"I'3A2+-*&"%("8(?%D"/%11"
C('/"+,-"*D+-"')"I,D(B-"')"3'?-1&"/%+,"&2>&+D(+%E-"A-*)'*3D(I-"I,D(B-&O"R'/"?'-&"'(-"
D&&2*-" *%B'*'2&" " +,-&-" " &+D(?D*?&e" .D+2*D11@" >@" %(I'*A'*D+%(B" 3D(@" ')" +,-" ?-&%B(G"
+-I,('1'B%ID1"D(?"3D(DB-3-(+")-D+2*-&"2&-?"%("?-)-(I-"'*"&ADI-"&@&+-3&O"
5D*1%-*" " /-" 2&-?" +'" A2*I,D&-" 3%1%+D*@" &+D(?D*?" '*" &ADI-" b2D1%+@" " I'3A'(-(+&" D+"
&A-I%D11@" ,%B,"A*%I-&" D(?"ID11"'+,-*"I'3A'(-(+&" )'*"B*'2(?"-b2%A3-(+" " " D&" +,-" hBD*?-("
ED*%-+@YO".'/"+,-"&+D(?D*?&"D(?"*-1%D>%1%+@" " " )%B2*-&"')" +,-&-"BD*?-("ED*%-+@"I'3A'(-(+&"
,DE-" %(I*-D&-?"3D(%)'1?O"U,%&" %&"'(-"*-D&'("/,@"3%1%+D*@"A*'I2*-3-(+" " %("?-E-1'A3-(+"
I'2(+*%-&"%&"('/D?D@&"&'2*I-?")*'3"I'33'("I%E%1%D("&'2*I-&"D&"/-11">-ID2&-"+,-*-"%&"D("
D11c*'2(?"" %(I*-D&-"%("*-1%D>%1%+@"D(?"b2D1%+@O"8("+,%&""/D@G">@""&A*-D?%(B"+,-"3D*C-+c>D&-"
D(?"+,-%*"'/("A*'?2I+%'("E'123-&G">'+,"&-I+'*&"BD%(O"
#11" +,%&" 3-D(&" B*-D+-*" D(?" B*-D+-*" -3A,D&%&" '(" ?-&%B(G" X%B'*'2&" *-E%-/" ')"
A*'?2I+%'(" &@&+-3&" -E-(" >-)'*-" ,D*?/D*-" 8&" A*'I2*-?G" &-E-*-" I'(+*'1" ')" &+D(?D*?&" D(?"
&A-I%)%ID+%'(&"')" " 8(A2+&" +'"A*'?2I+%'(G"I'(+%(2'2&"3'(%+'*%(B"D(?" +-&+%(B"')"A*'I-&&-&G"
D(?" ED*%'2&" +-&+&" " D(?" I,-IC&" '(" A*'?2I+&O" U,2&" +,-" 3'?-*(" ?-3D(?&" '(" +-I,(%ID1"
I'(&21+D(I@G" +-&+%(BG" ID1%>*D+%'(G" D(?" I-*+%)%ID+%'(" ')" A*'I-&&-&" D&" /-11" D&" ED*%'2&"
3D(DB-3-(+"I'(&21+D(I%-&"*-b2%*-?"+%",D(?1-"+,-&-"I'3A1-f%+%-&G"D*-"-E-*"'("+,-"%(I*-D&-O"
<C%11&" ?-3D(?-?" )'*" &2I," +D&C&" *D(B-" )*'3" +-I,(%ID1" C('/1-?B-" " " +'" ?D+D" -(+*@" +'"
3-+%I21'2&"D(D1@&%&"')"?D+DG"+'",DE%(B"B''?"3D(DB-*%D1"&@&+-3&O"8(?%D",D&"D"/,'1-"&-+"')"
IDAD>%1%+%-&" %(" D11" +,-&-" D*-D&" +,D(C&" +'" %+&" ,23D(" *-&'2*I-&" >D&-O" " U,%&"/,'1-" D*-D" ')"
&-*E%I-&"ID("-3-*B-"D&"D"3Da'*"&'2*I-"')"-3A1'@3-(+"D(?"/-D1+,"B-(-*D+%'(O"8(?%D(&"('+"
'(1@"+'"+,-"8(?%D("%(?2&+*@">2+"ID(">-I'3-"D"ID("'))-*"&2I,"&-*E%I-&"B1'>D1"A1D+)'*3")'*"
A*'E%?%(B"&-*E%I-&"%("ED*%'2&"D&A-I+&"')"+-&+%(BG"ID1%>*D+%'("D(?"+-I,(%ID1"I'(&21+D(I@O"8("
'*?-*"+'"*-D1%d-"+,%&"(D+2*D1"A'+-(+%D1G"/-"(--?"+'"A*'E%?-"D11c*'2(?"DE-(2-&")'*"'2*"A-'A1-"
+'" 2AB*D?-" +,-%*" C('/1-?B-" >D&-" D(?" &C%11&O" 8()'*3D+%'(" +-I,('1'B@" A*'E%?-&" a2&+" '(-"
-1-3-(+"%("+,-"/,'1-"I,D%("')"&%11&"D(?"%()*D&+*2I+2*-&"*-b2%*-3-(+&O"
<'3-"')"+,-*-"A*'a-I+&"ID(">-"&--("%("+D>1-&"VOP"D(?"VOT
!]K!
I%EKL!d(O!
?96>-.=067GU!I;7@6D70.!06,!1060<;1;6=!3=B0=;<D;>!06,!
)BD9BD=D;>!J9B!=@;!\-=-B;!
YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY!
3;BD0.!!!!!!!!!!!>7;60BD9! KD8;.G!ID1;JB01;".'"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""M%("@-D*&N"!""""""""""""""/%+,"+,-"%(I*-D&%(B"1-E-1"')"&A-I%D1%d-?"
;('/1-?B-G"'*BD(%dD+%'(&"/%11"&--C" Qc!K"0'*-"D(?"3'*-"D&&%&+D(I-")*'3"-f+-*(D1"<'2*I-&"M+-I,(%ID1"I'(&21+D(+&N"*D+,-*"+,D("J-A-(?%(B"'(1@"'("h%(c,'2&-Y"IDAD>%1%+%-&G"X-+*D%(%(BG"*-?-E-1'A3-(+G"*-c-(B%(--*%(B"
=" U-I,(%ID1"I'(&21+D(I@")2(I+%'(&"/%11"9-"B*-D+1@"&2AA'*+-?">@"%()'*3D+%'(Y&""""""""""""""""""""!Kc!Q"H'11D+-?")*'3"&A-I%D1%d-?"?D+D>D&-g"I*-D+%'("#(?"3D*C-+%(B"')"?D+D>D&-"D&"D"12I*D+%E-"92&%(-&&"
P" U,-")'I2&"/%11"&,%)+")*'3"A-?DB'B@"+'"0'*-"&A-I%)%I"D(?"&A-I%D1%d-?"+*D%(%(B"X%B,+")*'3"2(?-*B*D?2D+-"1-E-1&"%("5?2ID+%'("D(?"%("3D(DB-3-(+"""-?2ID+%'("""""""""""""""""Qc!K!
P! I@;!8;G!>;7=9B>!.D8;!D6JB0>=B-7=-B;!SA9:;BV"4'*+&G"/D+-*"3D(DB-3-(+G"+-1-I'3G",'2&%(B"5+IONG"(D+2*D1G"*-&'2*I-&"M3%(%(BG"'%1"D(?"BD&"5fA1'*D+%'(G"/D+-*"""*-&'2*I-&G"-+ION"#(?"&-*E%I-&"W%11"*-I'*?",%B,"B*'/+,"D(?"ID11")'*""""""""""""""""""""""""""""""Qc!K"U-I,(%ID1"I'(&21+D(I@"&2AA'*+"
<-*%D1""""""<I-(D*%'" F%C-1@"U%3-)*D3-".'""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""M%("@-D*&N"QO"""""""""U-I,(%ID1"I'(&21+D(I@"/%11">-"&'2B,+" !Kc!Q"
_'*"DAA1%ID+%'(c'*%-(+-?"(-/"3D+-*%D1&"J-E-1'A3-(+"&2%+D>1-")'*",%B,"+-3A-*D+2*-G"H'**'&%'(G"-*'&%'("D(?"/-D*"*-&%&+D(I-"
]O""""""""H'(&21+D(I@"*-1D+-?"+'"I'3A2+-*"+-I,('1'B%-&" Qc!K"W%11">-"%(I*-D&%(B1@"*-1D+-?"+'"&@&+-3&"%(+-B*D+%'("
#(?"DAA1%ID+%'(c&A-I%)%I"ADICDB-"?-E-1'A3-(+"
W%+,"+,-"%(E'1E-3-(+"')"D*-D"-fA-*+&"
LO""""""""<D)-+@G",-D1+,"D(?"-(E%*'(3-(+"/%11"-3-*B-"""""""""""""""""""""""""""""""""""""""""""""""""""Qc!K"#&"%3A'*+D(+"D*-D&")'*"I'(&21+D(I@"%(A2+&
!]!"
VO""""""""U,-"+-I,(%ID1"I'(&21+D(I@"&-I+'*"3D@">-""""""""""""""""""""""""""""""""""""""""""""""""""""""""Qc!K"#II'*?-?"%(?2&+*@"&+D+2&"%("E%-/"')")%(D(I%D1"#&&%&+D(I-"-+I"D(?"A*'3'+-?"/%+,"D?-b2D+-"_%&ID1"%(I-(+%E-&"
\O"""""""#("-))%I%-(+"D(?"2(%)%-?"I'?%(B"D(?""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""Qc!K"H1D&&%)%ID+%'( &@&+-3"/%11",DE-"+'">-"5E'1E-?")'*"D("-))-I+%E-"D&&%3%1D+%'("')"+,-"$D&+"C('/1-?B-">D&-"
<'2*I- "̂U8_#H"U-I,('1'B@"$%&%'("=K=K "̂<-*E%I-&"
U#9F5"VOT!
X060<;1;6=!?96>-.=067G^!
3=B0=;<D;>!06,!)BD9BD;>!J9B!=@;!\-=-B;"<-*%D1""""""""""""""""""#I+%ED+-&""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""F%C-1@"U%3-)*D3-".'" M%("@-D*&N"!O"""""""""""""H'(&21+D(I@")'*"*-+*D%(%(BG"*-?-A1'@3-(+"""""""""""""""""""""""""""""""""""""""""""""""""Qc!K"
#(?">2&%(-&&"A*'I-&&"*-c-(B%(--*%(B":)"I1%-(+"'*BD(%dD+%'("
<-*E%I-&"D&"4-'A1-Y&"W-D1+,"<-*%D1""""""""""""""""""""""""""""""#I+%E%+%-&"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""F%C-1@"U%3-)*D3-".'" M%("@-D*&N"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"=O""""""""""""""""""H'(&21+D(I@")'*"?%E-*&%)%ID+%'(G"a'%(+"""""""""""""""""""""""""""""""""""""""""""""Qc!K"
$-(+2*-&"D(?">2&%(-&&"D11%D(I-&")'*"I1%-(+":*BD(%dD+%'(&"
PO""""""""""""""""""H'(&21+D(I@G"%("3-*B-*&"D(?"DIb2%&%+%'(&G"!Kc!Q"J%E-&+3-(+&G"?'/(&%d%(B"')"I1%-(+":*BD(%dD+%'(&"
TO""""""""""""""""""H'(&21+D(I@"%("'2+&'2*I%(BG")*D(I,%&%(BG"Qc!K"<+*D+-B%I">2&%(-&&"2(%+"I'(I-A+")'*"I1%-(+"H1%-(+"'*BD(%dD+%'(&"
QO""""""""""""""""""7&-"')"A*'A*%-+D*@"D(?"A2>1%I"?'3D%(" Qc!K"JD+D>D&-&">@"+,-"I'(&21+D(+&"
]O""""""""""""""""""8(I*-D&-?"DAA1%ID+%'("')"3'?-1%(B"D(?"""""""""""""""""""""""""""""""""""""""""""Qc!K"<%321D+%'("+-I,(%b2-&"%("A*'>1-3"&'1E%(B"9@"+,-"I'(&21+D(+&"
LO""""""""""""""""""#"&,%)+")*'3"A-?DB'B@"+'"A*DI+%ID1"A*'>1-3"""""""""""""""""""""""""""""""""""""Qc!K"<'1E%(B"D(?"-fA-*%-(I-"&,D*%(B"%(
!]="
0D(DB-3-(+"-?2ID+%'("
VO""""""""""""""""""8(+-*(D+%'(D1">2&%(-&&G"&+*D+-B%I""""""""""""""""""""""""""""""""""""""""""""""""""""""""Qc!Q"0D(DB-3-(+"+-I,('1'B@"D(?"XjJ"0D(DB-3-(+G"b2D1%+@"3D(DB-3-(+G"5(E%*'(3-(+D1"3D(DB-3-(+"/%11"9-")2+2*-"+,*2&+"D*-D&"%("I'(&21+D(I@"
\O"""""""""""""""""U*D%(%(B"D(?"&C%11&"?-E-1'A3-(+">D&-?"'("""""""""""""""""""""""""""""""""""""""Qc!K"<-1)c+*D%(%(B"&@&+-3G"321+%3-?%D"?-E%I-&"_'*"I1%-(+"'*BD(%dD+%'(&"
!KO"""""""""""""""#B*%>2&%(-&&G">%'+-I,"DAA1%ID+%'(&G"I'(&23-*"""""""""""""""""""""""""""""""""""""""Qc!K"4*'?2I+&G"%()*D&+*2I+2*-"MA'/-*G"+-1-I'3G"X'D?&G"+*D(&A'*+D*+%'(G"A'*+&"-+ING"8U"&+*D+-B@"W%11"?'3%(D+-"+,-"I'(&21+D(I@">2&%(-&&"%("_2+2*-"
<'2*I- "̂U8_#HG"U-I,('1'B@"$%&%'("=K=K "̂<-*E%I-&!
I;>=D6<V!7;B=DJD70=D96!06,!70.D+B0=D96!>;BFD7;>U!
3=B0=;<D;>!06,!ABD9BD=D;>!J9B!=@;!J-=-B;"
U,-&-"D*-"E-*@"%3A'*+D(+"D*-D&"/%+,"*DA%?"+-I,('1'B%ID1"B*'/+,O"U,-@"D*-"E%+D1"%("%(+-*(D+%'(D1"+*D(&DI+%'(&"D&"/-11O"U,-"4*'a-I+%'(&"D*-"D&"%("+D>1-VOQ!
I%EKL!d(^"4*%'*%+%-&")'*"+,-")2+2*-"
<-*%D1" #I+%E%+%-&""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""U%3-)*D3-".'"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""")'*"I'3A1-+%'("
M8("@-D*&N"!O"""""""""""""""""""#II*-?%+D+%'(">'?%-&")'*"b2D1%)@%(B"ED*%'2&"""""""""""""""""""""""""""""""""Q"
HD1%>*D+%'(n+-&+%(B"DB-(I%-&"+'"I'()'*3"+'"8(+-*(D+%'(D1"('*3&"+,-3&-1E-&"
=O"""""""""""""""""""#II*-?%+D+%'("&@&+-3&"+'">-"%(%+%D+-?")'*""""""""""""""""""""""""""""""""""""QcL"8(&A-I+%'(nI-*+%)%ID+%'("DB-(I%-&"
PO"""""""""""""""""""_%(D(I%D1"%(I-(+%E-&"D(?"%()*D&+*2I+2*D1""""""""""""""""""""""""""""""""""""QcV"<2AA'*+"+'"b2D1%+@"D&&2*D(I-G"+-&+%(B"D(?"H-*+%)%ID+%'("D&"D("%3A'*+D(+">2&%(-&&"-(+%+@")'*"%+&")D&+"A*'1%)-*D+%'("DI*'&&"+,-"I'2(+*@"
TO""""""""""""""""""_DI%1%+D+%'("')"+-I,(%ID1"I''A-*D+%'(""""""""""""""""""""""""""""""""""""""""QcV"#(?"0'2&-">-+/--("8(?%D"D(?"8(+-*(D+%'(D1"DII*-?%+%(B"DB-(I%-&")'*
!]P"
o2D1%+@">2&%(-&&"
QO"""""""""""""""""83A*'E-?"D/D*-(-&&")'*"%(&2*D(I-""""""""""""""""""""""""""""""""""""""""""""Vc!K"H'3AD(%-&"+'/D*?&"ID1I21D+%'("')"4*-3%23G"-+IO>D&-?"'("A*'?2I+"b2D1%+@G"<D)-+@"('*3&G"A*-&-*ED+%'("(--?&"D(?":+,-*"-(E%*'(3-(+D1"*-B21D+%'(&"
<-*%D1"""""""""""""""""""#I+%E%+%-&"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""U%3-)*D3-".'"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""")'*"I'3A1-+%'("
M8("@-D*&N"]O"""""""""""""""""""U-&+%(B"D(?"I-*+%)%ID+%'(")'*"B-3&"D(?""""""""""""""""""""""""""""""""""""""Qc!K"
[-/-1-*")'*"+,-"%(+-*(D+%'(D1"3D*C-+"
LO""""""""""""""""""5&+D>1%&,3-(+"')"E'12(+D*@G"('(cA*')%+" Qc!K":*BD(%dD+%'(&")'*"DII*-?%+D+%'("%("ED*%'2&"#*-D&")'*"&A-I%D1%dD+%'("
VO""""""""""""""""""4*%ED+%dD+%'("D(?"D2+'('3@"%("3D%(+D%(%(B""""""""""""""""""""""""""""""""!Qc=K"HD1%>*D+%'(")DI%1%+%-&G"+-&+",'2&-&G"%(&A-I+%'("#B-(I%-&"D(?"DII*-?%+D+%'("D2+,'*%+%-&"6'E-*(-?">@"+,-"3D*C-+"-I'('3@"
<'2*I- "̂U8_#HG"U-I,('1'B@"$%&%'("=K=K "̂<-*E%I-&!
N9F;B61;6=!0,1D6D>=B0=D96"
U*D?%+%'(D11@"+,-"*'1-"')"+,-"B'E-*(3-(+"D?3%(%&+*D+%'("/D&"I'()%(-?"+'"I-*+D%("-&&-(+%D1"&-*E%I-&"1%C-"?-)-(&-G"1D/"D(?"'*?-*G"-+IO"W%+,"%(?-A-(?-(I-G"+,-"8(?%D("B'E-*(3-(+",D&"FD2(I,-?"D"A*'I-&&"')"A1D((-?"-I'('3%I"D(?"&'I%D1"?-E-1'A3-(+"+'/D*?&"%3A*'E-3-(+"')" 1%E%(B" &+D(?D*?&O" 8(" +,%&" A*'I-&&" A*%ED+-" &-I+'*" DI+%E%+%-&" %(" D" 1D*B-" (23>-*" ')" D*-D&"/-*-"X-B21D+-?G"D(?"+,-"B'E-*(3-(+"%+&-1)">-ID3-"'(-"')"+,-"-I'('3%I"DB-(+&">@"-&+D>1%&,%(B"3D(@" I'33-*I%D1" D(?" %(?2&+*%D1" -(+-*A*%&-&O" <2I," DI+%E%+%-&" /%?-(-?" +,-" &I'A-" ')"B'E-*(3-(+"D?3%(%&+*D+%'(" )'*"A'1%I@" )'*321D+%'(G" )*D3%(B"')" *21-&"D(?" *-B21D+%'(&"D(?"%3A1-3-(+D+%'("')"A'1%I@O"U,-"A*'1%)-*D+%'("')"B'E-*(3-(+"DB-(I%-&" ,D&"3-D(+"D" *%&%(B"I'&+"')"D?3%(%&+*D+%'(O"U,%&"-('*3'2&"&+*D%("'("+,-"&@&+-3"D(?"+,-"I,D(B-"%("+,-"B1'>D1"-I'('3%I"-(E%*'(3-(+",D&"1-?"+'"-I'('3%I"*-)'*3&O"
U,-" -I'('3%I" A'1%I@" *-)'*3&" D%3-?" D+" *-?-)%(%(B" +,-" *'1-" ')" B'E-*(3-(+"D?3%(%&+*D+%'("+,*'2B,"?%&3D(+1%(B"+,-"*-B21D+'*@")*D3-/'*C"%("3D(@"-I'('3%I"&-I+'*&O"U,-"A2*A'&-"%&"+'"%(+-B*D+-"+,-"8(?%D("-I'('3@"/%+,"+,-"B1'>D1"-I'('3@")'*"-))%I%-(+"2&-
!]T"
')" DED%1D>1-" (D+2*D1" D(?" ,23D(" *-&'2*I-&O" U,-" 4D(I,D@D+%" XDaD" &@&+-3&" '))-*" D" (-/"?%3-(&%'(O"U,-"&+*D+-B%-&"+'">-"D?'A+-?"D*-"&,'/("%("+D>1-"VO"
U#9F5"VO"<+*D+-B%-&"D(?"4*%'*%+%-&")'*"+,-"_2+2*-"
<-*%D1""""""""""""""""""""""""<I-(D*%'""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""F%C-1@"U%3-)*D3-".'" M%("@-D*&N"!O"""""""""""""""""""6'E-*(3-(+"D?3%(%&+*D+%'("+'""""""""""""""""""""""""""""""""""""""""""""""""!Kc!Q"
7(?-*B'"D"*D?%ID1"I,D(B-"+'/D*?&"&-*E%I-":*%-(+D+%'(")'*"h)DI%1%+D+%'(YG")*'3"DI+%'("#&"hD?3%(%&+*D+'*&Y"+'"h3D(DB-*&Y"D(?"hU-D3"A1D@-*&Y"
=O"""""""""""""""""""8(&+-D?"')"-f-*I%&%(B"I'(+*'1&"D(?"I2*>&G"Qc!Q"U,-"B'E-*(3-(+"/%11")2(I+%'(">@ *-B21D+%'("#(?"D?'A+"D"A*'3'+%'(D1"*'1-"
PO"""""""""""""""""""U,-*-"/%11">-"D"B*-D+-*"+*D(&AD*-(I@"%("""""""""""""""""""""""""""""""""""""Qc!K"6'E-*(3-(+")2(I+%'(%(B"
TO"""""""""""""""""""U,-"B'E-*(3-(+"/%11"(--?"%3A*'E-?"""""""""""""""""""""""""""""""""""""""""Qc!Q"#II-&&"+'"%()'*3D+%'(")'*"D("-))-I+%E-"?-I%&%'("0DC%(B"A*'I-&&"
QO"""""""""""""""""""U,-"?-I%&%'("3DC%(B"D(?"A1D((%(B"A*'I-&&-&""""""""""""""""""""""""""""Qc!K"8("+,-"B'E-*(3-(+"+'"%(E'1E-"3'*-"D(?"0'*-"D*-D"&A-I%D1%&+&"%(?2I+-?")*'3"3Da'*"<-B3-(+&"')"&'I%-+@"1%C-"XjJG"%(?2&+*@G"H'(&21+D(I@G"DID?-3%DG".6:&G"&'I%'1'B%&+&"#(?"'+,-*&"
]O"""""""""""""""""""U'/D*?&"D("-))-I+%E-"%(+-B*D+%'("')"+,-""""""""""""""""""""""""""""""""""""""Qc!K"8(?%D("-I'('3@"/%+,"+,-"B1'>D1"'(-G"+,-"6'E-*(3-(+",D&"+'"C--A"D>*-D&+"/%+,"8(+-*(D+%'(D1"?-E-1'A3-(+&"D(?"*-'*%-(+"%+&"4'1%I%-&"D(?"A*DI+%I-&"
<-*%D1""""""""""""""<I-(D*%'" F%C-1@"U%3-)*D3-".'"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""M%("@-D*&N"LO""""""""""""""""""8("+D(?-3"/%+,"+,-"?-E-1'A3-(+&"D(?" !Kc!Q"
J-3D(?&"%("+,-"%(+-*(D+%'(D1"D*-DG"+,-"6'E-*(3-(+",D&"+'")'*B-"I1'&-"D(?"I',-&%E-
!]Q"
F%(CDB-&"%("+,-"?-I%&%'("3DC%(B"A*'I-&&"_*'3")-?-*D1"+'"&+D+-"D(?"B*D&&*''+&"1-E-1"#&A%*D+%'(&"
VO""""""""""""""""8(+-*(D+%'(D1"+*D?-"A*DI+%I-&"1%C-"84XG"Qc!K"4-&+%I%?-&"*-&%?2-G"A*'?2I+"b2D1%+@G"-+IO"D(?":+,-*"I*2I%D1"%&&2-&"1%C-"-3A1'@3-(+"')"I,%1?"FD>'*G"E%'1D+%'("')",23D("*%B,+&G"-+IO"/'21?"RDE-"&%B(%)%ID(+"%()12-(I-"'("B'E-*(3-(+"4'1%I%-&"D(?"+,-"A1D((%(B"A*'I-&&"
\O"""""""""""""""";--A%(B"%("E%-/"+,-"&%(B1-"3'&+"%3A'*+D(+"""""""""""""""""""""""""""""""Qc!Q"#B-(?D"')"+,-"8(?%D("-I'('3%I"*-)'*3&"D(?"#">-++-*"b2D1%+@"')"1%)-G"+,-"B'E-*(3-(+",D&"+'"#II'*?"+'A"A*%'*%+@"+'"%()*D&+*2I+2*-"MA'*+G"X'D?&G"A'/-*G"+-1-I'3G"-+ION"J-E-1'A3-(+"
!KO""""""""""""""U,-"*D?%ID1"I,D(B-&"%("+,-"B'E-*(3-(+""""""""""""""""""""""""""""""""""""""Qc!Q"_2(I+%'(%(B"/%11"/D**D(+"&A-I%D1%d-?"U*D%(%(BG"*-+*D%(%(B"D(?"&C%11&"?-E-1'A3-(+":)"+,-"A-*&'((-1"-3A1'@-?"
<'2*I- "̂U8_#H"U-I,('1'B@"$%&%'("=K=K^<-*E%I-&!
3;7-BD=G!>;BFD7;>"<-I2*%+@" &-*E%I-&" I'E-*" (D+%'(D1" %(+-*(D1" &-I2*%+@G" %(+-*(D1" &-I2*%+@"')"I'33-*I-"
D(?" %(?2&+*@" D(?" &-I2*%+@" ')" +,-" I%E%1" &-I+'*O" U*D?%+%'(D11@G" (D+%'(D1" &-I2*%+@" 2&-?"
%(+-(&%E-" 3D(A'/-*" *D+,-*" +,D(" +-I,('1'B@O" 92+" %+" %&" I2**-(+1@" -&&-(+%D1" +,D+" &-I2*%+@"
&-*E%I-&"DIb2%*-"&+D+-c')c+,-cD*+"+-I,('1'B@"D(?"D11"XjJ"-))'*+&"32&+">-"A2*&2-?"+'"-))-I+"
+,-"I,D(B-O"#1&'"+-I,(%ID11@"+*D%(-?"A-*&'((-1"&,'21?">-"*-I*2%+-?"%("1D*B-"(23>-*&O"
8(+-*(D1" &-I2*%+@Y&" 3D%(" *'1-" 1%-&" %(" A*'+-I+%(B" +,-" A-'A1-" DBD%(&+" D++DIC&" >@"
+-**'*%&+&" D(?" I*%3%(D1&O" U,-" &-I2*%+@" )'*I-&" (--?" &'A,%&+%ID+-?" %(&+*23-(+&" )'*" -D*1@"
?-+-I+%'(" D(?" (-2+*D1%dD+%'(" ')" >'3>&O" 51-I+*'(%I&G" I'3A2+-*&G" ?D+D>D&-&G" ,-I+D*-"
-&&-(+%D1" )'*" +*DI%(B" I*%3%(D1&G" +,-" ?-+-I+%'(" ')" /,%+-c" I'11D*" I*%3-G" A*-E-(+%'(" ')"
%(?2&+*%D1" -&A%'(DB-G"-+IO"U'" )DI-"D11" +,-&-"(-/"I,D11-(B-&G" &-I2*%+@" &-*E%I-&" ,DE-" +'">-"
3'?-*(%d-?"
U,*'2B,"1D*B-c&ID1-"D?'A+%'("')"&I%-(I-"D(?"+-I,('1'B@O"
U,-"%3A1-3-(+D+%'("%("ED*%'2&"D*-D&"-fI-A+"?-)-(&-"D*-"&,'/("%(
!]]!
I0+.;!d(g!
3;7-BD=G!3;BFD7;>"<-*%D1"""""""""""""""#*-D"""""""""""""""""""""""""""""""""""""""""""""""""""""""U-I,('1'B%ID1"83A1%ID+%'(&".'"!O""""""""""""""""9'*?-*"&-I2*%+@"""""""""""""""""""""""""""""""""""!O""<-(&'*&"')"D11"+@A-&^"&-%&3%IG"
U,-*3D1G"%()*Dc*-?"D(?"51-I+*'(%I"D*-"(--?-?"
=O" :A+%ID1"-b2%A3-(+")'*"1'(B"XD(B-"&2*E-%11D(I-"
PO" <D+-11%+-"&2*E-%11D(I-"TO" UD3A-*cA*'')"?'I23-(+D+%'(G"8()*Dc*-?G"21+*DcE%'1-+"D(?"XD?%'B*DA,@"-fD3%(D+%'("')"4D&&A'*+&"D(?"E%&D&"
QO" H'3A2+-*%d-?"DII-&&"I'(+*'1"<@&+-3&"%(I12?%(B"A'*+D>1-"XD?%'"I'3A2+-*"+-*3%(D1"
=O""""""""""""""""4*-E-(+%'("')"-(+*@"')"""""""""""""""""""""""""!O""0-+D1"?-+-I+'*&"RD*3)21"&2>&+D(I-&"%(+'""""""""""""""""""""""=O""5fA1'&%E-"?-+-I+'*&"U,-"I'2(+*@""""""""""""""""""""""""""""""""""""""""""PO""J*2B"?-+-I+'*&"
TO"4'%&'(G"BD&G"-+IO"?-+-I+'*&"
PO""""""""""""""""5fA1'&%E-"?-+-I+%'("D(?""""""""""""""""""""""!O""5fA1'&%E-"?-+-I+'*&".-2+*D1%dD+%'("""""""""""""""""""""""""""""""""""""""=O"5fA1'&%E-"(-2+*D1%dD+%'(n"
J%&*2A+%'("?-+-I+%'("-b2%A3-(+"
TO"""""""""""""""4*-E-(+%'("')"&D>'+DB-"""""""""""""""""""""""""""""""""!O""#II-&&"I'(+*'1"&@&+-3&"=O" J-+-I+'*&"')"ED*%'2&"+@A-&"PO" #*&'("I'(+*'1"&@&+-3&"
QO"""""""""""""""4*-E-(+%'("')"%(?2&+*%D1" !O"""JD+D"A*'+-I+%'("-b2%A3-(+"5&A%'(DB-"""""""""""""""""""""""""""""""""""""""""""""""""""""""=O"""<'A,%&+%ID+-?"DII-&&"I'(+*'1"
&@&+-3&"PO" 9-,DE%'*D1"&I%-(I-"IDAD>%1%+%-&"+'" ?-+-I+" h3'1-&Y" D(?"h2()D%+,)21Y"
TO" #(+%c-DE-&?*'AA%(B" ?-E%I-&" +'"A*-E-(+" >2BB%(BG" +-1-A,'(-"+DAA%(BG")Df"%(+-*I-A+%'(G"-+IO"
QO" </--A%(B" ?-E%I-&" D(?"?%*-I+%'(")%(?-*&
!]L"
]O""""""""""""""4*-E-(+%'("')"/,%+-cI'11D*"I*%3-""""""""""""""""""""!O"""UD3A-*"A*'')"&@&+-3&"=O" 92%1+c%(" &D)-B2D*?&" %(" I*-?%+"ID*?&G"DII'2(+"U*D(&)-*&"-+IO"
PO" U-I,(%ID1" %(&A-I+%'("+'"?-+-I+"3D1)2(I+%'(%(B" ')"3-I,D(%ID1"?-E%I-&"?-D1%(B"/%+,"3'(-@"
LO""""""""""""""4*'+-I+%'("')"I'33'("A-'A1-"D(?"$84Y&""""""""!O"""#1D*3"&@&+-3&"=O" 51-I+*'(%I")-(I-"&@&+-3&"PO" 9211-+cA*'')"ID*&"TO" <@&+-3&" +'" (-2+*D1%d-"-1-I+*'(%ID11@" D(?" *D?%'"I'(+*'11-?"?-E%I-&"
QO" J-+-I+%'(" ')" %(I-(?%D*@"?-E%I-&"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"iiiiiiiiii"<'2*I- "̂U8_#HG"U-I,('1'B@"$%&%'("=K=K^<-*E%I-&!
R=@;B!>;BFD7;>"
W-",DE-"&--("'(1@"D" )-/"3Da'*"A'&&%>%1%+%-&" %("+,-"D>'E-"J-&I*%A+%'(&O"U,%&" %&"D("D*-DG"
/,%I,"ID("B*'/"?-A-(?%(B"'("+,-"%3DB%(D+%'("D(?"-(+-*A*%&-"')"'2*"A-'A1-O"_'*"-fD3A1-"
>@"=K!KG"8(?%D"/%11",DE-"D"1D*B-"(23>-*"')"'1?"A-*&'(&G"/,'"D*-"/-11 k+'"k?'"D(?"&+D@%(B"
D1'(-">-ID2&-"+,-%*"I,%1?*-("3D@">-"%("?%))-*-(+"AD*+&"')"8(?%D"D(?"+,-"/'*1?O"U,-"/,'1-"
&-+"')"&-*E%I-&"*-b2%*-?" )'*" +,-3"/%11">-"D("-&&-(+%D1"&'I%D1"I'(I-*(O"8+"ID("" "D1&'" " ">-"D"
B''?">2&%(-&&O"
U,-"&-*E%I-&"&-I+'*"""ID("D1&'""">-"2&-?"+'"-D*("I'(&%?-*D>1-")'*-%B("-fI,D(B-O"8("D11"
+,-&-" +,-*-" D*-" D" (23>-*" ')" " " -(D>1%(B" +-I,('1'B@G"/,%I," A1D@" D" C-@" *'1-O"W-"(--?" +'"
3D&+-*"+,-3O!
49.;!9J!"I!D6!>;BFD7;>!>;7=9B"
#&"D("-fD3A1-"""')"""*'1-"')"8U"%("+,-"&-*E%I-&"&-I+'*G"/-""B%E-""+,-")'11'/%(B"""+D>1-^
!]V!
I%EKL!d(d!
"I!!!%AA.D70=D96>!!!D6!!=@;!!!3;BFD7;>!!!3;7=9BU!\-=-B;!!37;60BD9!!J9B!!"6,D0"<-*%D1""""""""""""""""""""_2+2*-"""U-I,('1'B%-&"""""""""""""""""""""F%C-1@"""U%3-)*D3-!#9! 9J!
"6=B9,-7=D96SD6!!G;0B>!T"!"".-+/'*C""#2+'3D+%I"""U-11-*""0DI,%(-"M#U0<N""""""""""""""""""""""Qc!K"="<3D*+"""A,'(-&"")'*"",'3-"">D(C%(B""'A-*D+%'(&""""""""""""""""""""""!Kc!Q"P"h$%*+2D1Y"">*D(I,-&""')"">D(C""'A-*D+%(B"")*'3"""""""""""""""""""""""""!Kc!Q"H2&+'3-*""""#I+%ED+-?""U-*3%(D1&"MH#UN""'*""D"C%'&C"
T""J->%+""ID*?&""")'*""51-I+*'(%I""_2(?""U*D(&)-*"""""""""""""""""""""""""!Kc!Q"#+"4'%(+"')"<D1-"M5_U4:<N"
QO<3D*+"ID*?&"/%+,">2%1+"k"%("3%I*'I,%A&")'*"""""""""""""""""""""""""""Qc!K"51-I+*'(%I""""ID&,G"AD@"A,'(-&"-+I"
]"51-I+*'(%I"JD+D"8(+-*I,D(B-""M5J8N")'*"""""""""""""""""""""""""""""""""""Qc!K"4DA-*1-&&">D(C%(B"+*D(&DI+%'(&"
L"83DB-""""""A*'I-&&%(B"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""Qc!K"V"""5fA-*+"&@&+-3"D(?"(-2*D1"""(-+/'*C&""")'*"I*-?%+""""""""""""""!Kc!Q"X%&C"DAA*D%&D1G"3'(%+'*%(Bn"A*-?%I+%'("')"<+'IC"""A*%I-"3'E-3-(+G"?-+-I+%'("')"I*-?%+"HD*?")*D2?"
\"""92&%(-&&"A*'I-&&"*-c-(B%(--*%(BG"+*D%(%(B"D(?"&C%11&""""""""""Qc!Q"J-E-1'A3-(+""")'*"D>&'*A+%'("')"(-/"+-I,('1'B%-&"
!K"8()'*3D+%'("""&-I2*%+@""")'*"I'()%?-(+%D1%+@G"A*-E-(+%'("""""""Qc!K":)"?D+D"I'**2A+%'("D(?")*D2?21-(+"""A*DI+%I-&"
!!"""F-BD1"D&A-I+&""")'*"ADA-*1-&&"D(?"-1-I+*'(%I"""""""""""""""""""""Qc!K"_%(D(I%D1""""+*D(&DI+%'(&"
!="""<%(B1-"'A+%ID1")%>-*""""I'((-I+%'("+'",'3-&"+'"""""""""""""""""!Kc!Q"912*"+,-"?%))-*-(I-&""">-+/--("""I'332(%ID+%'(&"#(?"%()'+D%(3-(+"""ID>1-&""""'))-*%(B"D"/,'1-"""*D(B-"
:)"&-*E%I-&"""1%C-""",'3-"&,'AA%(BG"32&%I"D(?"3'E%-&":("?-3D(?G"%(+-*DI+%E-"U$"!P""""U-1-3D*C-+%(B"D(?"E%&2D1"""""&,'AA%(B"/%11""">-"%("""""""""""Qc!K"
6*-D+"?-3D(?"!T""""":(1%(-"""-1-I+*'(%I"(-/&ADA-*&"""D(?"""3DBDd%(-&"""""""""""Qc!K"
W%11"""?'3%(D+-"+,-"A*%(+"3-?%D"!Q""""021+%3-?%D"""+-I,('1'B@"""D(?"E%*+2D1"""""*-D1%+@"""+'"""""""""Qc!K"
53-*B-"D&"+,-"3Da'*"3-?%23"""')"D?E-*+%&-3-(+"!]""""#ED%1D>%1%+@"""')"%(+-*DI+%E-"""+-1-E%&%'("D(?"2&-*"""""""""""""!Kcu!Q"
H'(+*'11-?"""'(c"?-3D(?"""%(+-*DI+%E-"D?E-*+%&%(B"!L""""J%*-I+""">*'D?ID&+"""&D+-11%+-&G"4H&")'*"*-D?%(B"""""""""""""""""""Qc!K
!]\"
51-I+*'(%I"""">''C&G"?%B%+D1"ID3-*D&")'*"&+'*%(BG"$%-/%(B"D(?"-?%+%(B"&+%11"A,'+'B*DA,&"'("?%&I&"U'">-"DED%1D>1-"
!V" 9D*cI'?%(B"+'"-3-*B-"D&"D("%3A'*+D(+"?-E%I-")'*"AD@3-(+"4*'I-&&%(BG"DII'2(+%(B"D(?"%(E-(+'*@"3D(DB-3-(+O"""""""""""""""Qc!K"
!\" J-I-(+*D1%d-?"/D*-,'2&-&"+'"DI+"D&",2>&")'*"*2*D1"J%&+*%>2+%'("+'">-"(-+/'*C-?"+'"3D(2)DI+2*-&G"3D+-*%D1"""""""""""!Kc!Q"<2AA1%-*&G"-+I"
=K" H'3A1-+-"(-+/'*C%(B"')"&2AA1@"I,D%("E%dO"*-+D%1-*&G"J%&+*%>2+'*&G"/D*-,'2&-&G"+*D(&A'*+-*&G"J%&+*%>2+'*&G"!Kc!Q"0D(2)DI+2*-&G"3D+-*%D1"&2AA1%-*&"-+IO"
=!" 7&-"')"?-3'B*DA,%I"?D+D>D&-")'*"DB-"D(?"&-f"I'3A'&%+%'(G"8(I'3-"1-E-1&"D(?"?%&+*%>2+%'(G"*-B%'(D1"?%&AD*%+%-&G")-*+%1%+@"#(?"3'*+D1%+@"*D+-&G"%(I%?-(I-"')"?%&-D&-&G"1%)-"-fA-I+D(I@G"!Kc!Q"5+IO"/%11"I'3-"%(",D(?@")'*"?-&%B(%(B"(-/"%(&2*D(I-"4*'?2I+&"D(?"&-*E%I-&O"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii!
X*;)$(,3!M=!Y#,,-;!M*;):(H!A+'*)6-$#*+!C*0-3!J!C*6*))*B7!^*.=Lc7!Q*!W7LUUd"#&"D"I'2(+*@"')"'(-">%11%'(G"/-"&,'21?"B-D*"'2*&-1E-&"+'"+DC-"2A"+,-"'AA'*+2(%+%-&":))-*-?">@"+,-"&-*E%I-&"&-I+'*"%("'2*"3D*I,"+'/D*?&"D("8(?%D"/,-*-"-E-*@"8(?%D("/%11",DE-"/-D1+,"D(?"/-11c>-%(BO
!LK!
?@0A=;B!]!YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY!
U*#&*$71'!V605.*#1$.3=B;6<=@!B;>A;7=>!>=B;6<=@!
__%()(*(!%+,-.!/0.010"
<+*D+-B@"3-D(&"B-(-*D1&,%A"'*"+,-"D*+"')"I'(?2I+%(B"D"ID3AD%B("D(?"3D(-2E-*%(B"
D(" D*3@" '*" -f-I2+%'(" ')" D" A1D(" ')" DI+%'(" %(" >2&%(-&&" '*" A'1%+%I&O" 8(" 3'?-*(" 2&DB-G"
,'/-E-*" %+",D&"I'3-"+'"?-('+-"+,-"3-D(&"2&-?"+'"BD%("D"A'&%+%'("')"?-I%&%E-"D?ED(+DB-O"
U,-"/'*?"&+*D+-B@"%&"D1&'"2&-?"/,-("&A-DC%(B"')"A1D((%(B")'*"+,-"1'(B"+-*3g"+,D+"/,%I,"%&"
?'(-" '(" D" &,'*+c+-*3" >D&%&" >-I'3-&" h+DI+%D1YO" U,2&G" /,-(" /-" 2&-" +,-" +-*3" &+*D+-B%I"
%(?2&+*%-&G"/-" D*-" +,%(C%(B" %(" +,-" I'(+-f+" ')" %(?2&+*%-&" B%E-" 8(?%D" D" ?-I%&%E-" D?ED(+DB-"
'E-*"D">*'D?"*D(B-"')"D*-D&G"D(?"('+"3-*-1@"%("3%1%+D*@"+-*3&O"8("+,-"A-*%'?")'11'/%(B"+,-"
<-I'(?"W'*1?" WD*G" D&" (D+%'(&" ,DE-" )'I2&-?" '(" +,-" ?-E-1'A3-(+" ')" +,-%*" -I'('3%I&G"
&-I2*%+@",D&"I'3-"+'"3-D("3'*-"+,D("a2&+"A*'+-I+%(B">'*?-*&"/%+,"3%1%+D*@")'*I-&O":+,-*"
)'*3&"')"&-I2*%+@",DE-"I'3-"+'">-"')"D&"32I,"%3A'*+D(I-O"
_''?"&-I2*%+@"
U,-"DED%1D>%1%+@"')")''?"&"D"I*%+%ID1")DI+'*"%("+,-"/-11c>-%(B"')"D(@"(D+%'(G"'(-"+,D+"
5E-("?-E-1'A-?"I'2(+*%-&"ID(('+"D))'*?"+'"%B('*-"O_'*"D"I'2(+*@"1%C-"8(?%D"/%+,"D"
FD*B-"A'A21D+%'("+,-"+D&C"')"3D%(+D%(%(B"D"*-B21D*"&2AA1@"')")''?"%("D"&+D>1-G"I'(&%&+-(+"
#(?"D"E%D>1-"3D((-*" +'" %+&"A-'A1-G" %**-&A-I+%E-"')" +,-"EDBD*%-&"')"+,-"/-D+,-*"D(?"'+,-*"
(D+2*D1" ID1D3%+%-&G" %&" %+&-1)" D" &+2A-(?'2&" +D&CO" 0-D&2*-&" D%3-?" D+" -(&2*%(B" &2I,"
2(,%(?-*-?"&2AA1@")D11"2(?-*"&+-A&"D%3-?"+'/D*?&"h)''?"&-I2*%+@YO!
L79691D7!>;7-BD=G"5I'('3%I" &-I2*%+@" '*G" &%3A1@" &+D+-?G" +,-" &-I2*%+@" ')" D" &+-D?@" *D+-" ')" -I'('3%I"
B*'/+,"D1'(B"/%+,"D"I'(+%(2D1"&A*-D?"')">-(-)%+&"+'"+,-"A-'A1-"%&">-I'3%(B"%3A'*+D(+O"8+"
%&"D"I'3A1-f"A,-('3-('(G"/,%I,"('+"3-*-1@"I'(I-*(&"+,-" )%&ID1"A'1%I@"'*">-,DE%'*&"')"
)%(D(I%D1"%(&+%+2+%'(&">2+"D1&'"+'2I,-&"2A'("+,-"E-*@"&+*2I+2*-"')"+,-"-I'('3@"D(?"A'1%+@O"
8(" +,-" &-D*I," )'*" -I'('3%I" B*'/+,G" &--C" +'" I'(+%(2'2&1@" -fAD(?" +,-" 3D*C-+" )'*" +,-%*
!L!"
A*'?2I+&O"J-E-1'A-?"I'2(+*%-&"DI,%-E-"+,%&">@"-fAD(?%(B"+,-%*"DI+%E%+%-&" %(" &-E-*D1"AD*+&"
')"+,-"B1'>-"+,*'2B,"321+%(D+%'(D1"'*"+*D(&(D+%'(D1"I'3AD(%-&O"U,-@"D1&'")'*3"E%&%>1-"'*"
%(E%&%>1-" ID*+-1&" +'" ,DE-" A*-)-**-?" DII-&&" +'" 3D(@" 3D*C-+&O" 8(" D??%+%'(G" +,-@" D1&'"
I'(+%(2D11@"%3A*'E-"+,-%*"+-I,('1'B%ID1"&+*-(B+,&"D(?"A*'E%?-"3DI,%(-*@"D(?"C('/",'/"
+'" '+,-*&" D+" E-*@" ,%B," A*%I-O" U,-%*" C('/1-?B-c%(+-(&%E-" D(?" +-I,('1'B@c%(+-(&%E-"
DI+%E%+%-&"D*-"ID11-?"h,%B,"ED12-cD??-?"A*'?2I+&YO"02I,"')"+,-"3'*-"*'2+%(-"DI+%E%+%-&"D*-"
+*D(&)-**-?" >@" +,-&-" 321+%(D+%'(D1&" +'" ?-E-1'A%(B" I'2(+*%-&" %(" '*?-*" +'" ?-*%E-" +,-"
D?ED(+DB-"')"+,-%*" 1'ID+%'(&G"I,-DA"1D>'*"D(?"ED*%'2&"'+,-*"+Df"%(I-(+%E-&O"92+"/,-(-E-*"
?-E-1'A%(B" I'2(+*%-&" ,DE-" +'" %3A'*+" +-I,('1'B@" D(?" C('/" ,'/" )*'3" +,-" ?-E-1'A-?"
I'2(+*%-&G"+,-@"')+-(",DE-"+'"AD@"D",2B-"&23">-ID2&-"')"+,-"ED12-"D??%+%'("+'"+,-"D1*-D?@"
-fA1'%+-?"C('/1-?B-O"U,-*-"%&"('"-D&@"3-+,'?"')"/'*C%(B"'2+"+,%&"ED12-"D??%+%'(">-ID2&-"
')+-(" ?D+D"'(" ,'/" +,%&" %&" ID1I21D+-?G"'*" ,'/"ED*%'2&" I'&+&" D*-" DAA'*+%'(-?" >@" ?%))-*-(+"
321+%(D+%'(D1"I'3AD(%-&"%&"I'()%?-(+%D1O"
U,2&G" ?-E-1'A%(B" I'2(+*%-&" ')+-(" AD@" D" E-*@" ,%B," A*%I-" )'*" '1?" +-I,('1'B%ID1"
%(A2+&"D(?"%("*-+2*(",DE-"+'"&-11"32I,"3'*-"B''?&"D(?"&-*E%I-&"+'">D1D(I-"+,-",%B,"A*%I-"
')" +-I,('1'B@" %3A'*+&O"U,%&" -f-*+&" D" I'(+%(2'2&" A*-&&2*-" +'" -fA'*+" >%11&" D*-" I'(&+D(+1@"
*%&%(B" >-ID2&-" ')" +,-" I'(+%(2D1" %(A2+" ')" +-I,('1'B%ID1" 2A" B*D?D+%'(&" )1'/%(B" )*'3" +,-"
?-E-1'A-?"I'2(+*%-&O"U,%&"%&"/,D+"%&"B-(-*D11@"ID11-?"D("-fA'*+c1-?"-I'('3@O"<'3-"')"+,-"
)'*-%B("-fI,D(B-"*-b2%*-?"+'"3D%(+D%("+,%&" %3A'*+c-fA'*+">D1D(I-"I'3-&"+,*'2B,")'*-%B("
%(E-&+'*&"/,'"%(E-&+"%("A,@&%ID1"D&&-+&"%("+,-"I'2(+*@"&2I,"D&")DI+'*%-&G"A1D(+&G"'))%I-&"D(?"
1D>'*D+'*%-&G" '*" +,*'2B," %(E-&+3-(+&" %(" &+'IC&" D(?" I'3AD(%-&O" U,-*-" D*-" D1&'" &A-I%D1"
?-E-1'A3-(+D1"h1'D(&"B%E-(">@">'?%-&"1%C-"+,-"W'*1?"9D(C"'*"+,-"8(+-*(D+%'(D1"0'(-+D*@"
_2(?O" 8)" )'*" &'3-"A-*%'?" +,-" %3A'*+&"B*-D+1@"-fI--?" +,-"-fA'*+&"'*" %)"?2*%(B" +,-"A-*%'?"
&'3-"/%+,?*D/D1&"')" )'*-%B(" %(E-&+3-(+" +DC-"A1DI-G" )-D*"')"D" I2**-(I@"I*%&%&"-(&2-&O" 8("
'+,-*"/'*?&G"3'&+"?-E-1'A%(B"I'2(+*%-&G"/,%I,"D*-">D&%(B"+,-%*"&+*D+-B@"')"B*'/+,"'("D("
-fA'*+c1-?" -I'('3@"')+-(G" )%(?" &+*D+-B@" ')"3D%(+D%(%(B" D" A*-ID*%'2&" -I'('3%I">D1D(I-O"
W-"D*-"/%+(-&&%(B"+,%&" %("_D*"5D&+-*("I'2(+*%-&G"/,-*-"*-I-(+"-E-(+&"&,'/",'/"D"&%(B1-"
?-E-1'A-?" (D+%'(G" /,%I," ,D&" +*-3-(?'2&" %(E-&+3-(+" D(?" >2&%(-&&" %(" D" ?-E-1'A%(B"
I'2(+*@G"ID("ID2&-"%+&"-I'('3@"+'"I'11DA&-"%("D"3D++-*"')"/--C&O"
8)" +*D(&DI+%'(&" /-*-" I'(?2I+-?" A2*-1@" '(" -I'('3%I" D(?" 3D*C-+" I'(&%?-*D+%'(&G"
-E-(" &2I," D" +%B,+*'A-"/D1C"3%B,+" >-" A'&&%>1-O":(-"/'21?" 1-D*(" +'" I'A-"/%+," +,-" *DA%?
!L="
I,D(B-&"+,D+"&2I,"D"&%+2D+%'("I*-D+-&O"92+"+,-"*-D1%+@" %&" )D*"3'*-"I'3A1%ID+-?O"U,-*-"D*-"
ED*%'2&" I'33-*I%D1" A*-&&2*-&" D(?" %(+-*-&+&G" B-'A'1%+%ID1" I'(&%?-*D+%'(&" >-&%?-&" '+,-*"
?%&+2*>D(I-&" 'E-*" D(?" D>'E-" +,-" %(,-*-(+" %(&+D>%1%+%-&" ')" &2I," D" &%+2D+%'(O" #" I*2I%D1"
&+D>%1%d%(B" )DI+'*" +'" +DIC1-" &2I," &%+2D+%'(&" %&" )'*" D" I'2(+*@" +'" A'&&-&&" +,-" (-I-&&D*@"
+-I,('1'B%ID1" &+*-(B+,&O" U,D+" %&" +,-" 3D%(" %(&2*D(I-" DBD%(&+" B1'>D1" A*-&&2*-&O" X-D1"
-I'('3%I"&-I2*%+@"%&"D&&2*-?"+,*'2B,"+-I,('1'B@"&+*-(B+,&"%("D*-D&G"/,%I,"D*-"%3A'*+D(+"
+'"+,-"-I'('3@O!
?BD=D70.!=;[email protected]<D;>!J9B!"6,D0"#"I'2(+*@"+DC-&"D"1'(B"+%3-"+'"?-E-1'A"+-I,('1'B%ID1"&+*-(B+,&O"W,D+"%&"%3A'*+D(+"
%&" +,D+" %+" I'(I-(+*D+-&" '(" D" )-/" I*2I%D1" '*" I*%+%ID1" +-I,('1'B%-&G" /,%I," ID(" B%E-" %+" D"
?-&I*%>-?"D?ED(+DB-" %("3--+%(B" +,-"C%(?"')"-I'('3%I" %(&+D>%1%+@G"?-&I*%>-?"D>'E-e" 8+" %&"
%(+-*-&+%(B" +'" ('+-" +,-" 1%&+" ')" I*%+%ID1" +-I,('1'B%-&" %(" +,-" *-A'*+" ')" +,-" 6D&Y&" .D+%'(D1"
H*%+%ID1"U-I,('1'B%-&"4D(-1" %("0D*I,"!\\!O"U,-"I*%+-*%D"2&-?")'*"+,-"&-1-I+%'("D*-"B%E-("
%("+D>1-"\O!O!
I0+.;!](C!
#%I"R#%K!#LL$3"
H*%+-*%D" J-&I*%A+%'("
8(?2&+*%D1"I'3A-+%+%E-(-&&""""""""""""""""U-I,('1'B%-&"+,D+"%3A*'E-"7<"H'3A-+%+%E-(-&&"%("/'*1?"3D*C-+&"+,*'2B,"(-/"4*'?2I+&G"%(+*'?2I+%'("D(?"%3A*'E-3-(+&"%("U,-"I'&+G"b2D1%+@"D(?"A-*)'*3D(I-"')"-f%&+%(B"4*'?2I+&"
.D+%'(D1"J-)-(&-" U-I,('1'B%-&"+,D+",DE-"D("%3A'*+D(+"%3ADI+":("7<".D+%'(D1"?-)-(&-"+,*'2B,"83A*'E-3-(+&"%("A-*)'*3D(I-G"(--?&"I'&+G"X-1%D>%1%+@"'*"*-?2I%>%1%+@"')"?-)-(&-"&@&+-3&O"
.D+%'(D1"<-I2*%+@"""""""""""""""""""""""""""""U-I,('1'B%-&"+,D+"*-?2I-"?-A-(?-(I-"'("_'*-%B("<'2*I-&G"1'/-*"-(-*B@"I'&+&G"'*"83A*'E-"-(-*B@"5))%I%-(I@O!
"X)R4I%#?Lj?4"I"?%K"I2
!LP"
o2D1%+@"')"1%)-"""""""""""""""""""""""""""""""""""#>%1%+@"+'"3DC-"&+*'(B"I'(+*%>2+%'(&"+'",-D1+,G"R23D("/-1)D*-"D(?"+,-"-(E%*'(3-(+">'+,"J'3-&+%ID11@"D(?"/'*1?/%?-"
:AA'*+2(%+@"+'"1-D?"3D*C-+&"""""""""""""#>%1%+@"+'"-f-*+"D(?"&2&+D%("(D+%'(D1"F-D?-*&,%A"%("D"U-I,('1'B@"+,D+"%&"')"4D*D3'2(+"%3A'*+D(I-"+'"+,-"-I'('3@"'*".D+%'(D1"?-)-(&-O!
3=B0=;<D7!"6,->=BD;>"
H*%+-*%D""""""""""""""""""""""""""""""""""""""""""""""""""""""""J-&I*%A+%'("4-*)'*3D(I-nb2D1%+@n"#>%1%+@"+'"ID2&-"*-E'12+%'(D*@"'*"-E'12+%'(D*@"4*'?2I+%E%+@"%3A*'E-3-(+"""""""""""""""""""""%3A*'E-3-(+&"'E-*"I2**-(+"A*'?2I+&"'*"A*'I-&&-&"
8("+2*("1-D?%(B"+'"-I'('3%I"'*"(D+%'(D1"?-)-(&-"9-(-)%+&O"
F-E-*DB-""""""""""""""""""""""""""""""""""""""""""""""""4'+-(+%D1"+,D+"6'E-*(3-(+"X"j"J"%(E-&+3-(+"/%11"<+%321D+-"A*%ED+-"&-I+'*"%(E-&+3-(+"%("H'33-*I%D1%dD+%'("'*"1%C-1%,''?"+,D+"&2II-&&"%("U,-"+-I,('1'B@"/%11"&+%321D+-"&2II-&&"%("'+,-*"U-I,('1'B%-&G"A*'?2I+&"'*"3D*C-+&O!
X%4/LI!3"kLj$"QL43"I2"
$21(-*D>%1%+@""""""""""""""""""""""""""""""""""""""4'+-(+%D11@"&-*%'2&"?D3DB-"3D@">-"ID2&-?"%)"D"U-I,('1'B@"%&",-1?"-fI12&%E-1@">@"+,-"'+,-*"
I'2(+*%-&"#(?"('+"+,-"7(%+-?"&+D+-&O"
5(D>1%(BnA-*ED&%E-""""""""""""""""""""""""""""U-I,('1'B@")'*3&"+,-")'2(?D+%'(")'*"3D(@"'+,-*"U-I,('1'B%-&"'*"-f,%>%+&"&%d-n&+*'(B"1%(CDB-&"+'"
3D(@"<-B3-(+&"')"+,-"-I'('3@O"
<%d-"')"21+%3D+-"3D*C-+""""""""""""""""""""""#>%1%+@"+'"-f-*+"D"3Da'*"-I'('3%I"%3ADI+"+,*'2B,"U,-"-fAD(&%'("')"-f%&+%(B"3D*C-+&G"I*-D+%'("')"(-/"8(?2&+*%-&G"B-(-*D+%'("')"IDA%+D1"'*"I*-D+%'("')"53A1'@3-(+"'AA'*+2(%+%-&O"
<'2*I-^"X-A'*+"')"+,-".D+%'(D1"H*%+%ID1"U-I,('1'B%-&"4D(-1G"0D*I,"!\\!O
!LT"
8+" ID(" >-" &--(" )*'3" +,-" D>'E-" +,D+" +,-" I*%+-*%D" )'*" &-1-I+%'(" ')" I*%+%ID1" +-I,('1'B%-&"
3-(+%'(&" (D+%'(D1" ?-)-(&-" '(1@" D&" '(-" -1-3-(+O" :+,-*" I*%+-*%D" %(I12?-" +,-%*" D>%1%+@" +'"
-(,D(I-" +,-" b2D1%+@" ')" 1%)-" )'*" +,-" #3-*%ID(" A-'A1-G" %(?2&+*%D1" I'3A-+%+%E-(-&&" D(?"
-(-*B@" &-I2*%+@O"#3-*%ID(&" D*-" DI2+-1@" D/D*-" ')" +,-%*" ?-A-(?-(I-" )'*" '%1" '(" +,-"621)"
I'2(+*%-&O"
W,D+" /'21?" >-" +,-" I*%+%ID1" +-I,('1'B%-&" %(" +,-" 8(?%D(" I'(+-f+e" W'21?" %+" 3-D("
?-)-(&-"+-I,('1'B%-&"D1'(-e"J-)%(%+-1@"('+s"W'21?"%+"3-D("&ADI-"'*"D+'3%I"-(-*B@"D1'(-e"
J-)%(%+-1@" ('+s" 51-3-(+&" *-1D+-?" +'" +,-&-" D*-D&" /'21?" >-" I-*+D%(1@" %(I12?-?G" >2+" +,-*-"
&,'21?" >-"32I,"3'*-O"9-&%?-&G" -E-(" %(" +,-" &-I+'*&" ')" ?-)-(&-G" &ADI-"'*" D+'3%I" -(-*B@"
+,-*-"D*-"D"(23>-*"')" %+-3&G"/,%I,"D*-"('+"+,D+G"I*%+%ID1" %(" +,-"&-(&-"+,D+"+,-@"/'21?">-"
DED%1D>1-" *-1D+%E-1@" -D&%1@" )*'3" &-E-*D1" &'2*I-&O"0D(@" ')" +,-" %+-3&" /'21?" ('+" %(E'1E-"
(23-*'2&" I'3A1-f" 'A-*D+%'(&" '*" >-" E-*@" I'&+1@g" '+,-*" %+-3&" I'21?" >-" *-1D+%E-1@" -D&%1@"
&+'ICA%1-?" )'*" )2+2*-" I'(&23A+%'(O" W-" &,'21?" +,-(" >-" &-1-I+%E-" %(" /,D+" /-" +-*3" D&"
I*%+%ID1"+-I,('1'B%-&O!
$;J;6>;!>-AA.D;>!D6!"6,D0"
F-+" 2&" 1''C" D+" &'3-" )DI+&" D(?" )%B2*-&" D>'2+" +,-" (D+2*-" ')" +,-" ?-)-(&-" -b2%A3-(+" D(?"
&2AA1%-&" %(" 8(?%DO"U,-" %(?%B-('2&"A*'?2I+%'(" %&"D>'2+"PK"A-*I-(+"D(?" +,-*-" %&" D"B-(-*D1"
)--1%(B"+,D+"+,%&")%B2*-"%&"'2B,+"+'">-">*'2B,+"2A"+'"LK"A-*"I-(+"%("+,-"1'(Bc+-*3"%(+-*-&+"')"
'2*" ?-)-(&-" (--?&O" 8(" '*?-*" +'" DI,%-E-" +,%&" /-" (--?" +'" +DC-" &-E-*D1" &+-A&" +'/D*?&"
?-E-1'A%(B" I-*+D%(" +-I,('1'B%ID1" A*'I-&&-&" %(" '2*" %(?2&+*%-&O" R'/-E-*G" 3'&+" ')" +,-&-"
DI+%E%+%-&"/'21?"('+"*-D11@"b2D1%)@"D&"I*%+%ID1"+-I,('1'B%-&O"U,-"D>&-(I-"')"I-*+D%("A*'I-&&"
%("8(?%D"&'")D*",D&"')+-(">--("?2-"+'"+,-"&D3-"*-D&'(&"D&" %+" %&" %("+,-"I'33-*I%D1" &-I+'*^"
%(&2))%I%-(+"D++-(+%'("+'"D>&'*>G"D?DA+"D(?"+'"2AB*D?-"%3A'*+-?"C('/c,'/"D(?"-b2%A3-(+O"
8(" +,-" A*'I-&&G" /-" ,DE-" >-I'3-" &+DB(D(+" +-I,('1'B%ID11@" D(?" %(?2&+*%D11@G" D(?" ,DE-"
3%&&-?"'2+"'("%(?%B-('2&"%3A*'E-3-(+&"+'"%3A'*+-?"&@&+-3&O"8("3'&+"')"+,-&-"D*-D&G"%+"%&"
A'&&%>1-")'*"2&"+'"DI,%-E-"&-1)c*-1%D(I-"%("D"*-1D+%E-1@"&,'*+"A-*%'?"A*'E%?-?"?-)-(&-"XjJG"
%(?2&+*%-&G" +,-"?-)-(&-" )'*I-&"D(?"'+,-*"A'1%I@"3DC-*&"/'*C"+'B-+,-*"D&"D"3%&&%'(O"U,%&"
/%11"('+">-"D"IDC-/D1CG">2+"/%+,"D"I'(I-*+-?"-))'*+"+'">2%1?"D")-/"A*'+'+@A-&G"3'?%)@"+,-3"
D(?"&2>&-b2-(+1@"B'"%(+'"A*'?2I+%'("/-"ID("3--+"'2*"(--?&O"W-",DE-"-fA-*%-(I-"%("3'&+
!LQ"
51-3-(+O" :+,-*" I*%+-*%D" %(I12?-" +,-%*" D>%1%+@" +'" -(,D(I-" +,-" b2D1%+@" ')" 1%)-" )'*" +,-"
#3-*%ID("A-'A1-G"%(?2&+*%D1"I'3A-+%+%E-(-&&"D(?"-(-*B@"&-I2*%+@O"#3-*%ID(&"D*-"DI2+-1@"
D/D*-"')"+,-%*"?-A-(?-(I-")'*"'%1"'("+,-"621)"I'2(+*%-&O"
W,D+" /'21?" >-" +,-" I*%+%ID1" +-I,('1'B%-&" %(" +,-" 8(?%D(" I'(+-f+e" W'21?" %+" 3-D("
?-)-(&-"+-I,('1'B%-&"D1'(-e"J-)%(%+-1@"('+s"W'21?"%+"3-D("&ADI-"'*"D+'3%I"-(-*B@"D1'(-e"
J-)%(%+-1@" ('+s" 51-3-(+&" *-1D+-?" +'" +,-&-" D*-D&" /'21?" >-" I-*+D%(1@" %(I12?-?G" >2+" +,-*-"
&,'21?" >-"32I,"3'*-O"9-&%?-&G" -E-(" %(" +,-" &-I+'*&" ')" ?-)-(&-G" &ADI-"'*" D+'3%I" -(-*B@"
+,-*-"D*-"D"(23>-*"')" %+-3&G"/,%I,"D*-"('+"+,D+G"I*%+%ID1" %(" +,-"&-(&-"+,D+"+,-@"/'21?">-"
DED%1D>1-" *-1D+%E-1@" -D&%1@" )*'3" &-E-*D1" &'2*I-&O"0D(@" ')" +,-" %+-3&" /'21?" ('+" %(E'1E-"
(23-*'2&" I'3A1-f" 'A-*D+%'(&" '*" >-" E-*@" I'&+1@g" '+,-*" %+-3&" I'21?" >-" *-1D+%E-1@" -D&%1@"
&+'ICA%1-?" )'*" )2+2*-" I'(&23A+%'(O" W-" &,'21?" +,-(" >-" &-1-I+%E-" %(" /,D+" /-" +-*3" D&"
I*%+%ID1"+-I,('1'B%-&O!
$;J;6>;!>-AA.D;>!D6!"6,D0"
F-+" 2&" 1''C" D+" &'3-" )DI+&" D(?" )%B2*-&" D>'2+" +,-" (D+2*-" ')" +,-" ?-)-(&-" -b2%A3-(+" D(?"
&2AA1%-&" %(" 8(?%DO"U,-" %(?%B-('2&"A*'?2I+%'(" %&"D>'2+"PK"A-*I-(+"D(?" +,-*-" %&" D"B-(-*D1"
)--1%(B"+,D+"+,%&")%B2*-"%&"'2B,+"+'">-">*'2B,+"2A"+'"LK"A-*"I-(+"%("+,-"1'(Bc+-*3"%(+-*-&+"')"
'2*" ?-)-(&-" (--?&O" 8(" '*?-*" +'" DI,%-E-" +,%&" /-" (--?" +'" +DC-" &-E-*D1" &+-A&" +'/D*?&"
?-E-1'A%(B" I-*+D%(" +-I,('1'B%ID1" A*'I-&&-&" %(" '2*" %(?2&+*%-&O" R'/-E-*G" 3'&+" ')" +,-&-"
DI+%E%+%-&"/'21?"('+"*-D11@"b2D1%)@"D&"I*%+%ID1"+-I,('1'B%-&O"U,-"D>&-(I-"')"I-*+D%("A*'I-&&"
%("8(?%D"&'")D*",D&"')+-(">--("?2-"+'"+,-"&D3-"*-D&'(&"D&" %+" %&" %(" +,-"I'33-*I%D1" &-I+'*^"
%(&2))%I%-(+"D++-(+%'("+'"D>&'*>G"D?DA+"D(?"+'"2AB*D?-"%3A'*+-?"C('/",'/"D(?"-b2%A3-(+O"
8(" +,-" A*'I-&&G" /-" ,DE-" >-I'3-" &+DB(D(+" +-I,('1'B%ID11@" D(?" %(?2&+*%D11@G" D(?" ,DE-"
3%&&-?"'2+"'("%(?%B-('2&"%3A*'E-3-(+&"+'"%3A'*+-?"&@&+-3&O"8("3'&+"')"+,-&-"D*-D&G"%+"%&"
A'&&%>1-")'*"2&"+'"DI,%-E-"&-1)c*-1%D(I-"%("D"*-1D+%E-1@"&,'*+"A-*%'?"A*'E%?-?"?-)-(&-"XjJG"
%(?2&+*%-&G" +,-"?-)-(&-" )'*I-&"D(?"'+,-*"A'1%I@"3DC-*&"/'*C"+'B-+,-*"D&"D"3%&&%'(O"U,%&"
/%11"('+">-"D"IDC-/D1CG">2+"/%+,"D"I'(I-*+-?"-))'*+"+'">2%1?"D")-/"A*'+'+@A-&G"3'?%)@"+,-3"
D(?"&2>&-b2-(+1@"B'"%(+'"A*'?2I+%'("/-"ID("3--+"'2*"(--?&O"W-",DE-"-fA-*%-(I-"%("3'&+"
:)"+,-"%(?2&+*%-&"')"+,%&"&-I+'*O"U,-*-"%&"D"+-(?-(I@"-E-("%("D?ED(I-?"I'2(+*%-&"+'"&'2*I-"
'2+" ?-)-(&-" -b2%A3-(+" D(?" A*'?2I+&" )*'3"3D(@" D&&-3>1%-&" D(?" &2>cD&&-3>1%-&" ?*D/("
)*'3" +,-" I%E%1%D(" &-I+'*" 3DC%(B" '+,-*" &%3%1D*" A*'?2I+&O" <2I," D(" DAA*'DI," ID(" D1&'" >-
!L]"
D?'A+-?"+'" &A--?%1@"DI,%-E-" +,-"B'D1"')" &-1)c*-1%D(I-" %("D+" 1-D&+"LK"A-*"I-(+"')"A*'?2I+&"
D(?"&@&+-3&")'*"+,-"?-)-(&-")'*I-&O"
8&" +,D+"-('2B,e"5E-("/,%1-"+,%&" +D*B-+" %&" %3A'*+D(+G"+,-*-"D*-"&'3-"I*%+%ID1"D*-D&" %("
/,%I," 8(?%D" /%11" ('+" >-" B%E-(" +-I,('1'B%-&" -D&%1@" >@" '+,-*" I'2(+*%-&G" %**-&A-I+%E-" ')"
/,-+,-*"'*"('+"8(?%D"&%B(&"&'3-"')"+,-"-f%&+%(B"2(-b2D1"+*-D+%-&O"U,D+"%&">-ID2&-"+,-@"D*-"
I*%+%ID1"+-I,('1'B%-&"('+"'(1@")'*"?-)-(&-G">2+"D1&'")'*"&-E-*D1"'+,-*"A2*A'&-&G"D&"&,'/("%("
+D>1-" \O!O" <'3-" -fD3A1-&" /'21?" >-" &2>3%I*'(" 1-E-1" 3%I*'-1-I+*'(%I&" '*" D?ED(I-?"
+*D(&B-(%I" >%'+-I,('1'B@O" U,-" I'2(+*%-&G" /,%I," A'&&-&&" &2>3%I*'(" +-I,('1'B%-&G" )'*"
-fD3A1-G"ID("BD%("D"+'A"A'&%+%'("B1'>D11@O"#?ED(I-?"+*D(&B-(%I">%'+-I,('1'B@"ID("1-D?"+'"
B1'>D1"3D*C-+&"%("DB*%I21+2*-G")''?"A*'?2I+&"D(?"3-?%I%(-&O!
I@;!"6,D06!>A07;!AB9<B011;,"
F-+" 2&" 1''C" D+" +,-" 8(?%D(" &ADI-" A*'B*D33-?O" <-E-*D1" -1-3-(+&" *-b2%*-?" )'*" 1D2(I,"
E-,%I1-&" %(I12?%(B"+,-"3D+-*%D1&G"A*'A-11D(+&G"B2%?D(I-"D(?"I'(+*'1"D(?"&'"'(",DE-">--("
%(?%B-('2&1@" ?-E-1'A-?" D(?" D*-" 3D(2)DI+2*-?" ,-*-O" 8(?%D" ,D&" )DI-?" ?%))%I21+%-&" %("
DI,%-E%(B" D11" +,%&G" D&" )'*" -fD3A1-G" /,-(" %+" D++-3A+-?" +'" &A--?" 2A" +,-" &I,-?21-" )'*" +,-"
1D2(I," ')" +,-" X-&@(I,*'(%d-?" <D+-11%+-" FD2(I," $-,%I1-" M6<F$N" +,*'2B," %3A'*+" ')"
I*@'B-(%I"+-I,('1'B@O"<'3-"I'2(+*%-&"/-*-"/%11%(B"+'"&-11"%+"+'"2&O"92+"/,-("'(-"')"+,-3"
DB*--?"+'"+,-"&D1-"')"D")211"-(B%(-G"'+,-*"I'2(+*%-&"A*-&&2*%d-?"+,-3"%(+'"('+"&-11%(B"%+"+'"
8(?%DO"8("D")-/"@-D*&"8(?%D"&,'21?"DIb2%*-"IDAD>%1%+@"%("+,%&")%-1?O".-E-*+,-1-&&G"D&")D*"D&"
&D+-11%+-&"D*-"I'(I-*(-?G"3D(@"')"+,-"-1-I+*'(%I"I'3A'(-(+&"D(?"&'3-"3D+-*%D1&"D*-"&+%11"
&'2*I-?"'2+&%?-"+,-"I'2(+*@G"+,*'2B,"8(?%D",D&"&2II-&&)211@"3D?-"3D(@"')"+,-"D&&-3>1%-&^"
I'(+*'1"&@&+-3"I'3A'(-(+&G"B2%?D(I-"&@&+-3&G"&-(&'*&G"ED*%'2&"'+,-*"-1-I+*'c3-I,D(%ID1"
D(?"-1-I+*'(%I"AD*+&O"U,-"?-A-(?-(I-")'*"3D(@"')"+,-"&ADI-"n"&A,-*%ID1"b2D1%+@"-1-I+*'(%I"
I'3A'(-(+&" ID(G" ,'/-E-*G" &+%11" >-" D" A*'>1-3" )'*" +,-" 8(?%D(" &D+-11%+-" A*'B*D33-?G"
-&A-I%D11@"/,-("%+"32&+">-"I'3A-+%+%E-"%(+-*(D+%'(D11@O"
U,-"-(?"')"+,-"H'1?"WD*",D&"1-?"+'"&,*%(CDB-"')"3D*C-+&")'*"D-*'&ADI-"D(?"?-)-(&-"
%(?2&+*%-&" %("+,-"?-E-1'A-?"/'*1?O"U,-@"D*-" %(" &+%))" I'3A-+%+%'("/%+,"-DI,"'+,-*"D(?"?'"
('+"/D(+"'+,-*"I'2(+*%-&"'*"I'3AD(%-&" +'"-3-*B-"D&" &2AA1%-*&"')" &D+-11%+-&"D&" +,-%*"'/("
3D*C-+"&,D*-&"/'21?">-")2*+,-*"*-?2I-?O"8+"%&" %("+,%&"I'(+-f+G"%("'2*"-(?-DE'*"+'"DI,%-E-
!LL"
+,%&" I'33-*I%D1%dD+%'(" ')" '2*" &+*-(B+," %(" &D+-11%+-" +-I,('1'B@G" +,D+" 3D(@" I'3A'(-(+&"
*-b2%*-?")'*"8(?%D("&D+-11%+-&"3D@"&+%11",DE-"+'">-"I'(&%?-*-?"I*%+%ID1O!
I@;!6-7.;0B!AB9<B011;,"
#+'3%I" -(-*B@" A*'B*D33-*&" ,DE-" >--(" &2>a-I+" +'" &-E-*-" *-&+*%I+%'(&" )'*" E-*@" '>E%'2&"
*-D&'(&"D&" +,-"J-AD*+3-(+"')"#+'3%I"5(-*B@" %(">-I'3%(B"&-1)c*-1%D(+" %("D*-D&" %("/,%I,"
'(1@" D" )-/" I'2(+*%-&" ,DE-" &2I," IDAD>%1%+@O" U,-*-" D*-" D" (23>-*" ')" %+-3&" %(" +,-" D+'3%I"
-(-*B@"A*'B*D33-?G"/,%I,"D*-">-%(B"3D?-"%(?%B-('2&1@O"R'/-E-*G"I'33-*I%D1"D&A-I+&"
')" -fA1'%+%(B" (2I1-D*" IDAD>%1%+%-&G" -&A-I%D11@" )'*" A'/-*" B-(-*D+%'(" A*'B*D33-*&G" ,DE-"
>--("*-I-(+1@"B%E-(",%B,"A*%'*%+@O"6%E-("+,-"'E-*D11"-(-*B@"&%+2D+%'("%("8(?%DG"+,-"2&-"')"
(2I1-D*" A'/-*" %(" &'3-" 3-D&2*-" %&" %(-&IDAD>1-" -E-(" /,%1-" +,-*3'" D(?" ,@?*'A'/-*"
I'(+%(2-"+'">-"+,-"?'3%(D(+"-1-3-(+&O"5E-("+'"3--+"I'33-*I%D1c1-E-1"A'/-*cB-(-*D+%'("
IDAD>%1%+@G"/%+," %+&" I'33-(&2*D+-" &D)-+@" D(?" (2I1-D*"/D&+-"3D(DB-3-(+" D**D(B-3-(+&O"
U,2&" %("+,-"8(?%D("I'(+-f+"-(-*B@"&-I2*%+@" %&"D1&'"I*2I%D1G"A-*,DA&"32I,"3'*-"+,D(" %+" %&"
)'*"+,-"7<#G">-ID2&-"8(?%D"%3A'*+&"D"B''?"AD*+"')"%+&"I*2?-"'%1"*-b2%*-3-(+&G"AD@%(B")'*"%+"
/%+,"A*-I%'2&")'*-%B("-fI,D(B-O"U,-"B*'/+,"')"(2I1-D*"+-I,('1'B@"%(?--?",D&">-I'3-"D"
+*-(?&-++-*")'*"3D(@",%B,"+-I,('1'B%&+&"%("8(?%DO!
$-0._->;!=;[email protected]<G"
U,%&"?%&I2&&%'("')"&+*D+-B%I"%(?2&+*%-&"3D%(1@"I'(I-*(&"?-)-(&-G"&ADI-G"D+'3%I"-(-*B@"D(?"
D1&'"I*%+%ID1" +-I,('1'B@"D*-D&G"/,%I," ,DE-"A'+-(+%D1"')"321+%A1-"2&-&" %(" +,-"?-)-(&-"D(?"
I%E%1%D("I'33-*I%D1" &-I+'*" %("+,-" )2+2*-O".'+"+,D+"'+,-*"D*-D&"?'"('+",DE-"321+%A1-"2&-&O"
_'*"-fD3A1-G"ID((%(B"'*"A*'I-&&%(B"')")''?"'*"A*-&-*ED+%'("')")''?"%&"-b2D11@"DAA1%ID>1-"
+'"+,-"I%E%1%D("&-I+'*G"+'"+,-"-fA'*+"&-I+'*"'*")'*"&2AA1%-&"+'"+,-"?-)-(&-")'*I-&O"92+"&%(I-"
+,-&-" D*-" *-1D+%E-1@"/-11c&+D>%1%d-?" +-I,('1'B%-&G" /,%I," ID(" >-" ,D(?1-?" >@" %(A2+&" )*'3"
&-E-*D1" &'2*I-&G" %(I12?%(BG"')+-(G" %3A'*+&" %("+,-" )%*&+" %(&+D(I-G"/-"D*-"('+"I'E-*%(B"&2I,"
?2D1c2&-"%+-3&O"
.-/1@" -3-*B%(B" +-I,('1'B%-&" &2I," D&" *'>'+%I&" '*" D*+%)%I%D1" %(+-11%B-(I-G" /,%I,"
/'21?" ,DE-" D" I*2I%D1" %3ADI+" '(" )2+2*-" ?-)-(&-"'A-*D+%'(&" D(?" D1&'" '("3D(@" %(?2&+*%D1"
&-I+'*&" %)" +,-@",DE-"D*-"+'">-"*-D11@"I'3A-+%+%E-G"3-*%+"D"I1'&-*" 1''CO"#&"/-" 1''C"D+" +,-
!LV"
-3-*B%(B"3D(2)DI+2*%(B"&I-(D*%'G"%+"/%11"I'(+D%("3D(@"-1-3-(+&"')"D*+%)%I%D1" %(+-11%B-(I-"
D(?" *'>'+%I&" %(" +,-" 3-?%23c+-*3" )2+2*-O" 8)" 8(?%D(" A*'?2I+&" ,DE-" +'" >-" I'3A-+%+%E-"
/'*1?/%?-"D(?"%)"/-"D%3"+'"-D*("&2>&+D(+%D11@"+,*'2B,"ED12-cD??-?"A*'?2I+&"D(?"&-*E%I-&G"
8(?%D",D&"+'"3D&+-*"+,-&-"+-I,('1'B%-&O"U'"%3A'*+"+,-3")211@")*'3"'+,-*&"/%11"')+-("('+">-"
I'&+c-))-I+%E-"&%(I-"+,-"I'3A-+%(B")'*-%B("I'2(+*%-&"/'21?"('+"1%C-"+'"AD*+"/%+,"+,-%*">-&+"
+-I,('1'B%-&O":)+-(" -('2B," ('+" -E-(" +,-" >-++-*"'(-&"/%11" >-" &'1?O"U,2&G" -E-(" %)"/-" ?'"
3D(DB-"+'"A2*I,D&-"&'3-"+-I,('1'B%-&")*'3"+,-3G"+,-@"/%11">-"D+"D"A'%(+"')"+-I,('1'B%ID1"
'>&'1-&I-(I-"/,-*-"'(-",D&"+'"&+*2BB1-"/%+,"E-*@"1'/"A*')%+"3D*B%(&G"/,%I,"%&"('+"B''?"
)'*"D(@">2&%(-&&O"
U,-"+-I,('1'B@"D*-D&"I*%+%ID1")'*"+,-"B*'/+,"')"&+*D+-B%I"%(?2&+*%-&")'*"8(?%DG"B%E-("
+,-"D>'E-">*'D?"I'(&%?-*D+%'(&G"D*-"%("+,-"DE%D+%'("D(?"%("A*'A21&%'("&-I+'*G",%B,"D(?"
-1-I+*'(%I&G"&-(&'*&G"&ADI-"I'332(%ID+%'("D(?"*-3'+-"&-(&%(BG"I*%+%ID1"3D+-*%D1&"D(?"
A*'I-&&%(BG"*'>'+%I&"D(?"D*+%)%I%D1"%(+-11%B-(I-O"9-)'*-"1''C%(B"%(+'"&'3-"')"+,-&-"
+-I,('1'B%-&G"%+"%&"/'*+,"2(?-*&+D(?%(B"&'3-+,%(B"D>'2+"+,-"?-)-(&-"+-I,('1'B%-&"D(?"
%(?2&+*%-&"D&"+,-@"A-*+D%("+'"8(?%DO"8("8(?%DG">'+,"+,-"J-)-(&-"X-&-D*I,"j"J-E-1'A3-(+"
:*BD(%dD+%'("D(?"?-)-(&-"%(?2&+*%-&"&+D*+-?"-fA-*%-(I%(B"I-*+D%("*-&+*%I+%'(&"'("
DIb2%&%+%'("')"+-I,('1'B@"D(?"A*'?2I+&")*'3"+,-"?-E-1'A-?"I'2(+*%-&G"AD*+%I21D*1@")*'3"
!\VQ"'(/D*?&O"#+"+,-"&D3-"+%3-G"?-E-1'A-?"I'2(+*%-&"/D(+-?"+'"3DC-"8(?%D"'(-"')"+,-%*"
3D%("I2&+'3-*&")'*"D*3&"D(?"?-)-(&-"-b2%A3-(+O":>&'1-&I-(+"&@&+-3&"/-*-"'))-*-?")'*"
&D1-"I'2A1-?"/%+,"1%I-(&-?"A*'?2I+%'(")'*"D"A'1%+%ID1"A*%I-O"F%>-*D1"I*-?%+"D(?"?-)-**-?"
AD@3-(+&"/-*-"A*'E%?-?"+'"A*'ADBD+-"+,-">2&%(-&&"D(?"3DC-"2&"A-*-((%D11@"%(I-A+-?O"
W,D+" /D&" +,-" &%+2D+%'(" %(" 8(?%D" +,-(e" U,-" %(?2&+*%D1" D3>%-(I-" ,D?" 1-?" +'"
-fI-11-(I-" %(" )D>*%ID+%'(" %(" 1%3%+-?" D*-D&O" U,%&" 3-D(&" +,D+" D)+-*" D" ?-&%B(" ,D?" >--("
I'(E-*+-?" %(+'" )D>*%ID+%'(" ?*D/%(B&G" '2*" %(?2&+*@" /D&" %(" A'&%+%'(" +'" I'(E-*+" %+" %(+'" D"
)%(%&,-?" A*'?2I+O" _'*" 1'/c" D(?" 3-?%23c" 1-E-1" +-I,('1'B@G" +,-*-" /-*-" 1D*B-" %(?2&+*%D1"
I'3A1-f-&"/,-*-" 3'&+" ')" +,-" )DI%1%+%-&"/-*-" -&+D>1%&,-?" 2(?-*" 1%I-(&-?" A*'?2I+%'(O" 8("
?-)-(&-"A*'?2I+%'(G"+,-"A*%ED+-"&-I+'*"A1D@-?"'(1@"D"1%3%+-?"*'1-O"#&")D*"D&"+,-"DID?-3%I"
D(?" XjJ" %(&+%+2+%'(&" /-*-" I'(I-*(-?G" +,-@" /-*-" %(+-*-&+-?" %(" /'*C%(B" +'/D*?&" &-1)c"
*-1%D(I-"D(?"+'">*-DC"D/D@")*'3"+,-"1%I-(&-?"A*'?2I+%'("&@(?*'3-O"U,-"JXJ:"%+&-1)"/D&"
A*-'II2A%-?" /%+," D" 1D*B-" (23>-*" ')" &%(B1-" ?%&I%A1%(-" A*'a-I+&" I'(I-(+*D+%(B" '(" &-1)c
!L\"
*-1%D(I-"+,*'2B,"%3A'*+"&2>&+%+2+%'("D(?n'*"%(?%B-(%dD+%'(O"U,-"-(?"2&-*&"')+-("/'21?"1%C-"
+'"&--")211"&@&+-3&O!
3-+_>G>=;1!,;F;.9A1;6="
J2*%(B" +,-" (-f+" +-(" @-D*&G" +,D+" %&G" >@" !\\QG" I-*+D%(" %(?2&+*%-&" B*D?2D+-?" +'" ?-&%B(" D(?"
?-E-1'A3-(+"')" &2>c&@&+-3&O"U,%&"/D&"?2-" +'"DI+%E-"AD*+(-*&,%A"')" +,-"(D+%'(D1" &I%-(I-"
D(?" +-I,('1'B@" DB-(I%-&" &2I," D&" 8<X:G"J#5G"JXJ:" D(?" +,-" %(?2&+*%-&O"0D(@" %(" +,-"
A*%ED+-"&-I+'*"/,'"/-*-",-&%+D(+" +'"-(+-*" +,%&" )%-1?" +-(" @-D*&"-D*1%-*G" &+D*+-?"E@%(B"/%+,"
?-)-(&-"42&&"D(?"'+,-*"A2>1%I"&-I+'*"I'3AD(%-&"+'"+DC-"2A"?-)-(&-"XjJ"+D&C&"D+"+,-"&2>c"
&@&+-3" 1-E-1O"_'*"-fD3A1-G"A*%ED+-"&-I+'*" %(?2&+*%-&"/-*-" %("D"A'&%+%'("+'"?-E-1'A"A,D&-"
&,%)+-*&G" ?%&A1D@&G" +D(C" DB-G" I'332(%ID+%'(" &@&+-3&G" D(?" I-*+D%(" +@A-&" ')" -1-I+*'(%I"
/D*)D*-" &@&+-3&G"'(c>'D*?"I'3A2+-*&G"'(c>'D*?"+*D(&3%++-*&G" +,-*3D1" >D++-*%-&"D(?"-E-("
D%*)*D3-&O"U,%&"3D*C-?" D" E-*@" %3A'*+D(+" &+-A" )'*" >'+," +,-"JXJ:"D(?" 8(?%D(" %(?2&+*@O"
9-ID2&-"')"&2I," %(+-*DI+%'(">-+/--("XjJ"D(?" %(?2&+*@G" +,-"-(+,2&%D&3"D(?"I'()%?-(I-"
')" %(?2&+*%D1"-&+D>1%&,3-(+&"B*-/"D(?"-(D>1-?"+,-3"+'"?-&%B("&2>c&@&+-3&"D(?"+'"D>&'*>"
+,-"&A-I%)%-?"&+*%(B-(+"A*'I-&&"')" +-I,('1'B@O"#>'E-"D11" %+"-(,D(I-?"+,-%*"/%11%(B(-&&"+'"
+DC-"*%&C"D(?"B'"+,*'2B,"+,-"*%B'*'2&"b2D1%+@"D&&2*D(I-"D(?"I-*+%)%ID+%'("A*'I-&&"*-b2%*-?"
)'*"3%1%+D*@"&@&+-3&O"
J2*%(B" +,-" A*'B*-&&" ')" 1D*B-"XjJ"A*'a-I+&G" +,-*-"/-*-" 2(?'2>+-?1@" ?-1D@&" D(?"
I'&+"'E-**2(&O"U,-*-"/D&" &'3-"I*%+%I%&3" %("+,-"A*-&&"D>'2+"+,%&O"92+",-*-" %+"(--?&"+'">-"
2(?-*1%(-" +,D+" +,-&-" A*'a-I+&" (--?-?" &2AA'*+" +,*'2B," ?%))%I21+" A,D&-&" ')" +,-%*"
?-E-1'A3-(+O" 8(" )DI+G" XjJ" %(" 8(?%D" &2*E%E-?" '(1@" >-ID2&-" ')" +,-" -))'*+&" ')" D" )-/"
E%&%'(D*@"&I%-(+%&+&"D(?" 1-D?-*&O"92+")'*" +,-3"+,-"(D+%'("/'21?",DE-">--("&D+%&)%-?"/%+,"
3DC%(B"&3D11"%+-3&G"&2**'2(?%(B&"+'">2&%(-&&"%(+-*-&+"+,D+"/'21?"2&-"D11"3-D(&"+'"I'(E-*+"
8(?%D" %(+'"D"A-*A-+2D1" h>2@%(B" (D+%'(YO"J-)-(&-"XjJ" %&" ('/" +DC%(B" +,-" 1-D?" +'" *-E-*&-"
+,%&" +*-(?" +,*'2B," %+&" &-1)c*-1%D(I-"3%&&%'(" %(" ?-)-(&-" &@&+-3&O" 8("J#5" D(?" 8<X:" +''"
&2I,"D("%3A21&-")'*"&-1)c*-1%D(I-"%&"%("+,-")'*-)*'(+O"
W-" )'*-ID&+" +,D+">@"=KKQG"3'*-" %(?2&+*%-&"/%11" >-" %("D"A'&%+%'(" +'"+DC-"2A"&+D(?c"
D1'(-"3'?-"&@&+-3&"-(B%(--*%(B"D(?"&@&+-3&"%(+-B*D+%'("+'"+,-"&A-I%)%-?"*-b2%*-3-(+"')"
XjJ"'*BD(%dD+%'(&O"<2>c&@&+-3&"1%C-"321+%c3'?-"*D?D*G"hC(DE-*@Y"I1D&&"D%*I*D)+"-(B%(-&G
!VK"
D11" I'3A'&%+-" ID*>'(" )%>-*" I'3A'&%+-" /%(B&G" ?%&A1D@" &@&+-3&G" )1@c>@c/%*-" &@&+-3&" )'*"
F%B,+" H'3>D+" #%*I*D)+" MFH#N" D(?" )'*" )2+2*%&+%I" D%*I*D)+G" 3%&&%'(" I'3A2+-*&" D(?" D%*"
)*D3-&" /%11" >-" ?-E-1'A-?G" -(B%(--*-?G" A*'?2I-?" D(?" ?-1%E-*-?" )'*" %(+-B*D+%'(" D(?"
I,-IC'2+O":)"I'2*&-G" +,%&" %&" +,-"J'?'Y&"E%&%'(O"W-">-1%-E-"+,D+" +,-"8(?%D(" %(?2&+*@"/%11"
*-&A'(?" B%E-(" +,-" (D+%'(D1" /%11" '(" '+,-*" )*'(+&O"W-" >-1%-E-" +,D+"/,-(" 8(?%D(" %(?2&+*@"
>-I'3-&" &+*'(B" %(" &@&+-3&" -(B%(--*%(B" D(?" &@&+-3&" %(+-B*D+%'(" D&"/-11" D&" &2>c&@&+-3"
?-E-1'A3-(+"D(?")D>*%ID+%'(G"+,-"(D+%'("/%11",DE-"321+%A1-"'A+%'(&"'("I,'%I-"')"&@&+-3&"
D(?" %(?2&+*%-&" +'" 3DC-" +,-3" I'3A-+%+%E-" D(?" I'&+" -))-I+%E-O" 8(" I-*+D%(" &2>c&@&+-3&" '*"
+-I,('1'B%-&"/-" ID(" -E-(" I'3A-+-" B1'>D11@O"U,-*-"/'21?" D1&'" >-" D" (23>-*" ')" I%E%1%D("
I'33-*I%D1" &A%(c'))"A*'?2I+&"D(?"&-*E%I-&G"/,%I,"ID(">-"3D*C-+-?"?'3-&+%ID11@"D(?" %("
)'*-%B("3D*C-+&O!
NB9:=@!9J!=;[email protected]<G!70A0+D.D=G!D6!$4$R"
U,-" JXJ:"/D&" -&+D>1%&,-?" %(" +,-" !\]K&O" 8+&" 3Da'*" +D&C" /D&" +'" >2%1?" &I%-(I-c"
>D&-?" IDAD>%1%+@" +'/D*?&" 3DC%(B" %3A*'E-3-(+&" %(" +,-" DED%1D>1-" %3A'*+-?" &@&+-3&" D(?"
/-DA'(*@O"8("+,-"hLK&"/-"A*'?2I+%'("D(?"%("hVK&"D"+*-3-(?'2&"+,*2&+"/D&"B%E-("+'"3Da'*"
&@&+-3" A*'B*D33-*&" %(" ?-&%B(" D(?" ?-E-1'A3-(+" /,%I," 1-D?" +'" A*'?2I+" %'(%dD+%'(" ')"
-1-I+*'(%I"/D*)D*-" &@&+-3G" I'332(%ID+%'(" &@&+-3G" 3%&&%1-" &@&+-3G" D%*I*D)+G"3D%(" >D++1-"
+D(C&" D(?" *D?D*&O" U,-&-" A*'B*D33-*&" BDE-" D" (-/" %3A-+2&" +'" 321+%A1-" ?-&%B(" D(?"
+-I,('1'B@"?-E-1'A3-(+" I-(+-*&" *-&21+%(B" %(" +,-" A*'?2I+%'(" ')" ?-&%B(" IDAD>%1%+@" )'*" D("
%(+-B*D+-?"/-DA'(&"&@&+-3&"%("+,-"(%(-+%-&O".'/"+,-"E%&%'(")'*"+,-"JXJ:"%&"+'"A*'3'+-"
+,-"I'*A'*D+-"&+*-(B+,"')"+,-"'*BD(%dD+%'(G"D(?"+'"3DC-"+,-"(D+%'("%(?-A-(?-(+"')")'*-%B("
+-I,('1'B@"%("I*%+%ID1"&A,-*-&O"U-I,('1'B@"%(('ED+%'("%&"-fA-I+-?"+'"1-D?"+,-"JXJ:"D(?"
%+&" %(?2&+*%D1"AD*+(-*&" +'"B1'>D1"I'3A-+%+%E-(-&&" %("&@&+-3"?-&%B("D(?"*-D1%dD+%'(O"F-+"2&"
1''C" D+" +,-" +-I,('1'B%ID1" B*'/+," ')" D" I'3A1-+-?"3%&&%1-" A*'a-I+G" 4%+," D(?" D(" D?ED(I-?"
?-E-1'A3-(+"A*'a-I+G"FH#G"2(?-*"A*'B*-&&O"U,-" )'11'/%(B"'>&-*ED+%'(&"D*-"?*D/(" )*'3"
&'3-"')"3@"+D1C&"'("+,-&-"A*'a-I+&O!
)D=@!1D>>D.;!>G>=;1"
8("!\V=G"D"?-+D%1-?"&+2?@"/D&"ID**%-?"'2+")'*"-E'1E%(B"D?ED(I-?"3%&&%1-"&@&+-3&"%("'*?-*"
+'" I'2(+-*" +,-" -3-*B%(B" +,*-D+&" +'" +,-" &-I2*%+@" ')" 8(?%DO" 5fA-*+&" D(?" 3-3>-*&" ')" +,-"
D*3-?" )'*I-&" 1''C" AD*+" %(" +,%&" &+2?@" D(?" %+" *-&21+-?" %(" +,-" 8(+-B*D+-?" 62%?-?"0%&&%1-"
J-E-1'A3-(+" 4*'B*D33-?" I'3A*%&%(B" )%E-" A*'a-I+&O" 8(" [21@" !\VPG" +,-" B'E-*(3-(+
!V!"
DAA*'E-?" +,-" A*'B*D33-?G" /,-*->@" D" 2(%b2-" 3D(DB-3-(+" &+*2I+2*-" /D&" +'" >-"
-&+D>1%&,-?G" %(+-B*D+%(B" +,-" ?-E-1'A3-(+G" A*'?2I+%'(G" D(?" +,-" 2&-*" &-*E%I-&G" /%+,"
B'E-*(3-(+"3DI,%(-*@")'*"-fA-?%+%'2&"%3A1-3-(+D+%'(O!
I@;!N-D,;,!XD>>D.;!$;F;.9A1;6=!)B9<B011;,"
U,-" 62%?-?" 0%&&%1-" J-E-1'A3-(+" 4*'B*D33-?" -(E%&DB-?" +,-" ?-&%B(" D(?"
?-E-1'A3-(+" ')" '2*" 3%&&%1-" &@&+-3&G" 4%+,G" U*%&,DG" #>D&," D(?" .DBG" 1-D?%(B" +'" +,-%*"
A*'?2I+%'(O"8+"D1&'"-&+D>1%&,-?"+,-"*-c-(+*@"+-I,('1'B@"IDAD>%1%+@"+,*'2B,"#B%(BO"U,-"*-c"
-(+*@"+-I,('1'B@"?-3'(&+*D+%'("/D&"I'3A1-+-?">@"!\\=G"+,*'2B,")%*&+"+-&+&"')"#B%(BO"4%+,"
/D&"+,-")%*&+"')"+,-")'2*"')"+,-"'A-*D+%'(D1"3%&&%1-"&@&+-3&"+'">-"%(?2I+-?"%(+'"+,-"D*3-?"
)'*I-&O"
U,-" +-I,('1'B%ID1" B'D1" ')" +,-" A*'B*D33-?" %&" +'" -(&2*-" +,D+" +,-" &@&+-3&" /%11" >-"
I'(+-3A'*D*@"D+"+,-"+%3-"')"+,-%*"%(?2I+%'("%(+'"+,-"D*3-?")'*I-&O"U,-"&@&+-3&",DE-">--("
?-&%B(-?"+'">-"321+%cA2*A'&-G"321+%c2&-*"D(?"321+%c*'1-" %("(D+2*-O"U,-"A*'B*D33-?",D&"
D?'A+-?" +,-" A,%1'&'A,@" ')" I'(I2**-(+" ?-E-1'A3-(+" D(?" A*'?2I+%'(" +'" *-?2I-" +,-" +%3-c"
I@I1-")*'3"?-E-1'A3-(+"+'"%(?2I+%'(O!
EBD;J!,;>7BDA=D96!9J!=@;!)D=@!>G>=;1"
4%+," %&" D(" D11c/-D+,-*G"3'>%1-" D(?" &2*)DI-c+'c&2*)DI-" B2%?-?"3%&&%1-G" /,%I," ID("
-(BDB-"+D*B-+&"b2%IC1@"D(?"DII2*D+-1@"'E-*"D"*D(B-"')"TKc=QK"C3O"+,-"/-DA'("&@&+-3G"%&"
?-&%B(-?" +'" -(BDB-" +D*B-+&" >-@'(?" +,-" *D(B-" ')" )%-1?" B2(&" D(?" 2(B2%?-?" *'IC-+&O" U,-"
&@&+-3" %&" ,%B,1@" 3'>%1-" /%+," D" 3%(%323" *-DI+%'(" +%3-" D(?" ,D&" D" IDAD>%1%+@" ')" >-%(B"
?-A1'@-?" D+" &,'*+" ('+%I-" D+" ?-&%*-?" 1'ID+%'(&O" 8+&" 3'>%1%+@" D1&'" A*'E%?-&" )%*-" D(?" &I''+"
IDAD>%1%+@O"
U,-"4%+,"3%&&%1-"%&"D"&%(B1-"&+DB-"&@&+-3"D(?"2&-&"+/'"1%b2%?"A*'A21&%'("-(B%(-&"')"
+,*--c+'(-"+,*2&+"IDAD>%1%+@"-DI,O"U,-"B2%?D(I-"&@&+-3"')"4%+," %&">D&-?"'("D"&+*DA"?'/("
%(-*+%D1" (DE%BD+%'(" &@&+-3" D1'(B" /%+," D(" '(c>'D*?" I'3A2+-*G" /,%I," '))-*" %(+-B*D+-?"
&'12+%'("+'"(DE%BD+%'(G"I'(+*'1"D(?"B2%?D(I-"*-b2%*-3-(+&O"8+&")1%B,+"I'(+*'1"&@&+-3"D11'/&"
+,-"3%&&%1-" +'")'11'/"+,-"?-&%*-?"+*Da-I+'*@G">@"I'(+*'11%(B"+,-"E-,%I1-" %("+,*--"32+2D11@"
A-*A-(?%I21D*"A1D(-&"E%dO"A%+I,G"@D/"D(?"I'(+*'1O""U,-"-1-I+*'c,@?*D21%I"DI+2D+%'("&@&+-3"
%&"2&-?"+'"I'(+*'1"+,-"A'&%+%'(%(B"-**'*O"U,-"-**'*&"%(?2I-?"?2-"+'"/-D+,-*"I'(?%+%'(&"&2I,"
D&"/%(?G" &,-D*"D(?"B2&+"ID(">-" " " I'**-I+-?">@" +,-"B2%?D(I-"D(?"I'(+*'1" " " &@&+-3"')" +,-
!V="
3%&&%1-O"8+"%&"D1&'"A'&&%>1-"+'"3D(-2E-*"+,-"3%&&%1-"%("+,-")%(D1"A,D&-O"U,-"B*'2(?"&2AA'*+"
&@&+-3"%&"""-b2%AA-?"/%+,"&A-I%D1"E-,%I1-&"+'"ID**@"'2+"+,-"3%&&%'(G"I'33D(?"D(?"I'(+*'1G"
3D%(+-(D(I-G"1'B%&+%I"&2AA'*+"D(?"&2*E-@O"U,-"3'?21D*"?-&%B("D(?">2%1+"%("I,-ICc'2+"D(?"
ID1%>*D+%'(" )DI%1%+%-&" " " ,-1A" %(" -b2%AA%(B" +,-" 3%&&%1-" %(" +,-" ?-A1'@3-(+" D*-D" /%+," +,-"
?-&%*-?" /D*,-D?" D(?" )'*" ID**@%(B" '2+" D" b2%IC" I,-IC" ')" " " +,-" 3%&&%1-Y&" 'A-*D+%'(D1"
*-D?%(-&&O"
!"#$#%%#&'()#*#++$,%$-('""#" 3D(-2E-*D>1-" +*Da-I+'*@G" %+&" ,%B," 3'>%1%+@G" 1'/" *-DI+%'(" " " +%3-G" %+&" &-1)c"
I'(+D%(-?" D(?" &-1)c&2AA'*+%(B" )-D+2*-&" D(?" 1'/" )''+A*%(+" D*-D" 3DC-" +,-" 4%+," 3%&&%1-"
&@&+-3"?%))%I21+" " " +'"I'2(+-*O"9-&%?-&G" +,-",%B,"DII2*DI@"')" %+&"&@&+-3G" %+&",%B,"/D*,-D?"
IDAD>%1%+%-&" D(?" D>&-(I-" ')" E21(-*D>%1%+@" +'" I'2(+-*c3-D&2*-&O" 8(I12?%(B" " " 51-I+*'(%I"
I'2(+-*" 3-D&2*-&" M5H0NG" 3DC-" +,-" 4%+," 3%&&%1-" &@&+-3" A'+-(+%D11@" ?D(B-*'2&" )'*" +,-"
-(-3@O" 4'&&-&&%'(" D(?" ?-A1'@3-(+" ')" D" 1D*B-" (23>-*" ')" " " 4%+," 3%&&%1-" ID(" DI+" D&" D"
?-+-**-(+"D(?"A*-E-(+"D"3%&&%1-"D++DIC")*'3"'2*"D?E-*&D*%-&O"
8("ID&-"')"/D*G"+,-"A'/-*)21"-fA1'&%E-"D(?",%B,"DII2*DI@"')"+,-"4%+,"3%&&%1-",D&"
-('*3'2&" A'+-(+%D1" +'" >*%(B" " " 1%)-" +'" D" &+D(?&+%11" %(" I%+%-&" D(?" 2*>D(" D*-D&G" +'" D))-I+" +,-"
3'*D1-"')"+,-"-(-3@O"#1&'G"D"&%d-D>1-"A'*+%'("')"+,-"-(-3@"D%*")'*I-"/'21?">-"-(BDB-?"%("
(-2+*D1%d%(B"+,-"3'>%1-"3%&&%1-"1D2(I,-*&"MD&">'*(-"
:2+" >@" +,-" -fA-*%-(I-" ')" #11%-?" D%*" )'*I-&" %(" +,-" *-I-(+"621)"/D*" DBD%(&+" 3'>%1-" &I2?"
&%+-&NO"4%+,"%&"D"I'&+c-))-I+%E-"/-DA'("7&2D11@G"$%+D1"#*-D&"M$D&&N"D(?"E%+D1"A'%(+&""M$4&NG"
/,%I," D*-" ')" ,%B," +DI+%ID1" D(?" &+*D+-B%I" %3A'*+D(I-G" ,DE-" D" ,%B," 1-E-1" ')" D%*" ?-)-(&-"
A*'+-I+%'(O"02I,"')" +,%&" D%*" I'E-*" %&"321+%c1D@-*-?G"/%+," &'3-"'E-*1DAA%(B" *-?2(?D(I@"
D(?" %&" (-+/'*C-?" " " +,'2B,+" " " I'3A2+-*" I'332(%ID+%'(" 1%(C&" )'*" -(&2*%(B" -))-I+%E-"
I'33D(?"D(?"I'(+*'1O"U,-"?--A"A-(-+*D+%'("IDAD>%1%+@"')"+,-"4%+,"3%&&%1-G"2A"+'"=QK"C3"
*D(B-G" /%11" -(,D(I-" +,-" )%*-A'/-*" ')" +,-" D%*" )'*I-" DBD%(&+" ,-DE%1@" ?-)-(?-?" +D*B-+&" %("
D?E-*&-"/-D+,-*"I'(?%+%'(&O"8("D??%+%'(G"+,-"(%B,+"D++DIC"IDAD>%1%+@"')"+,%&"3%&&%1-"/%11">-"
2&-)21" )'*"D++DIC%(B"+D*B-+&" 1%C-" )DI+'*%-&g"A-+*'1-23"?23A&"3D*&,D11%(B"@D*?&"D(?"'+,-*"
&+D+%I"%(&+D11D+%'(&O"U,-"DII2*DI@"')"+,-"&@&+-3"D+"=QK"C3"/%11">-")2*+,-*"%3A*'E-?"2A'("
%("A,D&-"88G"/,-("+-*3%(D1",'3%(B"B2%?D(I-"'*"D(+%c*D?%D+%'("&@&+-3&"/%11">-" %(+-B*D+-?"
%(+'" +,-"4%+," &@&+-3O"#" &I,-3-" )'*" *-+*')%+" %&" >-%(B" I'(+-3A1D+-?" " " D(?" ?-&%B(-?O"U,%&
!VP"
IDAD>%1%+@"/%11">-"D("D&&-+"%("D++DIC%(B",D*?"""+D*B-+&"1%C-"D*3'*-?"I'(I-(+*D+%'(&"%("+,-*-"
AD*C%(B"&%+-&O"
!"#$.#)#/,01#*'$2*.$03,.4&'(,*$$$#50#3(#*&#$
6%$$$-('""
8(?%D" ,D?"I-*+D%(" &+*-(B+,&" %("?-&%B(G"3D+-*%D1&"D(?"-(B%(--*%(B"/,-(" " " +,-"A*'a-I+"/D&"
%(%+%D+-?" %(" !\VPO" " " " R'/-E-*G" +,-" ?-E-1'A3-(+" ')" 4%+," *-b2%*-?" D-*'&ADI-" b2D1%+@"
3D+-*%D1&" 1%C-" 3DB(-&%23" D11'@&" )'*" /%(B&" D(?" I-*+D%(" &A-I%D1" D123%(23" D11'@&" )'*"
D%*)*D3-"D(?"+D(C"DB-&G"D(?"(DE%BD+%'(D1"&-(&'*&"')"D"I-*+D%("DII2*DI@G"D11"')"/,%I,"/-*-"
('+"DED%1D>1-"/%+,%("+,-"I'2(+*@O"U,-"0%&&%1-"U-I,('1'B@"""H'(+*'1"X-B%3-G"+,'2B,"('+"
)'*3D11@" ?-I1D*-?G" /D&" %(" -))-I+" %(" &'3-" )*'3" '*" +,-" '+,-*O" #11" +,-&-" ?*'E-" 2&" +'"
?-1%>-*D+-1@"D?'A+"D("%(?%B-('2&"*'2+-"*%B,+")*'3"+,-">-B%((%(BO"RD*(-&&%(B"+,-"DED%1D>1-"
+D1-(+&" /%+,%(" +,-" I'2(+*@" D(?" 2&%(B" %(('ED+%E-" 3D(DB-3-(+" 3-+,'?&" ?-E-1'A-?" D"
(23>-*" ')" I*%+%ID1" +-I,('1'B%-&G" 3D+-*%D1&" D(?" A*'I-&&-&O" U,-" ?-E-1'A3-(+" ')" +,-" 4%+,"
8(-*+%D1".DE%BD+%'("&@&+-3" %&"D("-fD3A1-"')" +,%&O"U,'2B,"/-"/-*-"D>1-" +'"B-+"'(1@" +,-"
I'D*&-"I1D&&"')"&-(&'*&")'*"+,-"%(-*+%D1"(DE%BD+%'(G"'2*"&I%-(+%&+&"ID3-"2A"/%+,"%(('ED+%'(&"
+'"-(,D(I-"+,-%*"DII2*DI@"2&%(B"&')+/D*-O"U,-"2&-"')"&%321D+%'("%("+,-"?-&%B("A,D&-G"D(?"
+,-",D*?/D*-"%("1''A"&%321D+%'("+'")1@"+,-"3%&&%1-"'("B*'2(?G"D&"/-11"D&"+,-"D&&'I%D+%'("')"
2&-*&" D+" -E-*@" &+DB-G" B*-D+1@" ,-1A-?" %(" %3A*'E%(B" +,-" -))-I+%E-(-&&" ')" +,-" 3%&&%1-" D(?"
*-?2I-?"+,-"""(23>-*"')"2&-*"+*%D1&O"
U,*'2B,'2+G"+,-"A*'a-I+"/D&"?*%E-(">@"B'D1&"')"-fI-11-(I-"%("A-*)'*3D(I-"D(?"')"
3--+%(B" &I,-?21-&O" H'(I2**-(I@" " " /D&" >2%1+" %(+'" -E-*@" DI+%E%+@" ')" +,-" A*'B*D33-?" +'"
*-?2I-"+,-"+%3-")*'3"?-E-1'A3-(+"+'"%(?2I+%'(O"
#&%?-")*'3"&+*-(B+,-(%(B"+,-"I'2(+*@"+'")DI-"+,-"+,*-D+&")*'3"DI*'&&"'2*">'*?-*&O"
4%+,",D&"?-3'(&+*D+-?"+,D+"8(?%D"""ID("""?-E-1'A"/'*1?cI1D&&",%B,"+-I,('1'B@"&@&+-3&"D(?"
?-E%I-&" >@" " " 2&%(B" %+&" '/(" %(?%B-('2&" &+*-(B+,G" D(?" +,-*->@" " " ?-)-D+%(B" " " +,-" I'(+*'1"
*-B%3-&O"#("%3A'*+D(+">-(-)%+"')"+,-"4%+,"A*'B*D33-?"%&"+,-"(-/">*--?"')"+-I,('1'B%&+&"
D(?"1-D?-*&G"/,'"""ID("3DC-"'2*"I'2(+*@"&+*'(B-*"D(?"&-1)c*-1%D(+O"
7(8"'$9,1:2'$;(3&32%'$$<79;=":(-" ')" +,-" 1D*B-&+" A*'B*D33-*&" ')" +,-" JXJ:" %&" +,-" F%B,+" H'3>D+" #%*I*D)+"
MFH#NO" 8+" ,D&" B'+" D11" +,-" A'+-(+%D1" -1-3-(+&" ')" " " ,%B," +-I,('1'B@g" +,%*+@c+,*--" XjJ
!VT"
-&+D>1%&,3-(+&G"&%f+@"3Da'*"%(?2&+*%-&"D(?"-1-E-("DID?-3%I"%(&+%+2+%'(&"D*-"%(+-B*D+-?"D(?"
/'*C%(B"+'B-+,-*"'("+,%&"A*'a-I+O"
U,-*-"D*-"+/'"+@A-&"')" " " )%B,+-*"D%*I*D)+G"F%B,+"H'3>D+"#%*I*D)+"D(?"+,-"0-?%23"
H'3>D+" #%*I*D)+O" U,-" 0-?%23" H'3>D+" #%*I*D)+" /-%B,&" D>'2+" !Q" +'(-&" D+" +DC-c'))G"
/,-*-D&" +,-" F%B,+" H'3>D+" #%*I*D)+" ,D&" >-1'/" !K" +'(-&" +DC-c'))" /-%B,+O" U,%&" (-/"
B-(-*D+%'(" D%*I*D)+" ,D&" A*%3D*@" &+*2I+2*-&"3D?-" ')" " " I'3A'&%+-"3D+-*%D1&" D(?" D?ED(I-?"
DE%'(%I&O" U,-" FH#" ,D&" +-I,('1'B%-&" ')" >D&-?" 3%&&%'(" I'3A2+-*G" 1'/" " " XH<G" ,%B,"
/-DA'(" " " " ID**@%(B" IDAD>%1%+@G" ,%B," 3D(-2E-*D>%1%+@" A'/-*-?" >@" D" 2(%b2-1@" ?-&%B(-?"
hC(DE-*@Y"""-(B%(-O"""U,-"""FH#"""?-&%B(""""ID+-*&""")'*"""+'AcI1D&&"3D(-2E-*D>%1%+@"""D(?"
,%B,"A-*)'*3D(I-O""8("""D??%+%'(G" %+&"3%&&%'("IDAD>%1%+@"D(?"""&2*E%ED>%1%+@"I,D*DI+-*%&+%I&"
/%11">-"&2A-*%'*"+'"+,'&-"')"+,-",-DE%-*"D%*I*D)+"+,D+"/'21?"I'3-"%(+'"+,-"""3D*C-+"""/%+,%("
+,-" (-f+" )-/" @-D*&O" U,-" FH#" /%11" >-" +,-" 3'&+" I'&+c-))-I+%E-" D%*I*D)+" %(" *-1D+%'(" +'"
A-*)'*3D(I-"I'(&%?-*%(B"+,-")DI+"+,D+"'2*"XjJ"I'&+"%&"'(-c+,%*?"')"+,D+"')"+,-"?-E-1'A-?"
I'2(+*%-&" )'*" &%3%1D*" A*'B*D33-*&O" U,-" FH#" +'A&" +,-" 1%B,+/-%B,+" )%B,+-*&" %(" %+&"
IDAD>%1%+%-&"/%+,"+,-"2(%b2-")-D+2*-"')")211c2&-*"I'33%+3-(+O"U,-"FH#"ID(">-"3D*C-+-?"
D+"32I,"1'/-*"I'&+"+,D( +,-"I'3>D+"""D%*I*D)+"""')"&%3%1D*"I1D&&O"
>?>6@A2)B$023'(&(02'(,*"
F-+"2&" /,,C" D+"""D""")-/"'+,-*"ID&-&"')"""">2%1?%(B"""2A"D"&+*D+-B%I"+-I,('1'B%ID1"
&+*-(B+,O" " J2*%(B" " " !\\QG" %(" " " " +,-" " " " " 9D@" D#*82/G" ?-&A%+-" *'2B," /-D+,-*"
I'(?%+%'(&G"'2*"?-)-(&-"" "&I%-(+%&+&"D(?"-(B%(--*&" )*'3"9D*+"51-I+*'(%I&"F%3%+-?""M95FN"
/'*C-?" /%+," D" (DED1" +-D3" '(" D" &,%A" +'" I'33%&&%'(" +,-" 3'?%)%-?" -1-I+*'(%I" /D*)D*-"
&@&+-3" )'*" 2&-*" +*%D1&O" 8(" ,D(?%/'*CcD+c&-DG" %(" " &+'*3@" I'(?%+%'(&G"JXJ:" D-*'(D2+%ID1"
D(?""-1-I+*'(%I&""-(B%(--*&"-(BDB-?""%("+,-")%(D1""A,D&-"')""2&-*"+*%D1&"')"4%1'+"1-&&"""UD*B-+"
#%*I*D)+"M4U#N""h_1D&,@Y"")'*"+,-"+,*--"&-*E%I-&O""#1&'"?2*%(B""!\\Q""/-",D?""D"&2II-&&)21"
)1%B,+""')""+,-"4U#""/,'&-"a-+"-(B%(-""/D&"""?-&%B(-?""D(?"?-E-1'A-?""/%+,%(""+,-""I'2(+*@O"
U,-" (DED1"&,%A&"BDE-")211""&2AA'*+""%("+,%&"3%&&%'("")'*"?-A1'@%(B""+,-"&%321D+-?""3%&&%1-"
+'"-(I'2(+-*""8X""+D*B-+&")%++-?""/%+,"+,-""4U#O""#(""-fA-*%3-(+D1""1D>'*D+'*@"'(""+,-"&-DG"
<DBD*?,/D(%G"&D%1-?"")*'3"+,-""/-&+"""+'""+,-""-D&+"I'D&+""/%+,""D""3%&&%'(" ')"I,D*DI+-*%d%(B"
+,-"'I-D(""?-A+,""/%+,""AD*+%I21D*""*-)-*-(I-""+'"+-3A-*D+2*-""B*D?%-(+"O
!VQ"
#('+,-*" " -fI%+%(B" " DI,%-E-3-(+" "')" " +,-" ".DE@" " %&" " %33%(-(+O"W'*C" ",D&" " >--("
I'3A1-+-?" " )'*" +,-" " &+D+-c')c+,-cD*+" " &2>3D*%(-" &'(D*G" 4D(I,-(?*%@DG" " >@" " +,-" .DED1"
4,@&%ID1"D(?":I-D('B*DA,@" "FD>'*D+'*@" " M.4:FN"&%+2D+-?""'(" " +,-"/-&+-*(" "I'D&+O"U,-"
(-/"&,%A&">-%(B">2%1+"/%11">-"D*3-?"/%+,"'2*"U*%&,21"3%&&%1-"&@&+-3"D(?"+,-",211c3'2(+-?"
&'(D*"RD3&DO"8+"/%11",DE-"%+&")%*&+"0'?21D+-?"JD+D"92&G"/,%I,"%&"3'&+1@"1%(C-?">@")%>-*"
'A+%I&O" U,-" 6'E-*(3-(+" ,D&" D1&'" DAA*'E-?" +,-" .DED1" 8(+-B*D+-?" 51-I+*'(%I" WD*)D*-"
A*'B*D33-?" M.85W4NO" " 8(" )'2*" @-D*&G" &,%A&G" &2>3D*%(-&" D(?" (DED1" D%*I*D)+" /'21?" >-"
A*'E%?-?"/%+,"+,-"1D+-&+"""-1-I+*'(%I"&2*E-%11D(I-"&@&+-3"I'2A1-?"/%+,"-1-I+*'(%I"I'2(+-*c"
3-D&2*-&O"
;&'(,*$0/2*$%,3$'"#$;31B"
<+*D+-B%I" +-I,('1'B%ID1" DI+%'(" >@" +,-" #*3@" ,D&" >--(" -b2D11@" -f-3A1D*@O" " 4,D&-?"
%(?2I+%'("')"ED*%'2&"&@&+-3"D(?"-b2%A3-(+&"(--?&"+'">-" 1%(C-?"D(?"?'E-+D%1-?"/%+,"+,-"
?-)-(&-"&-1)c*-1%D(I-"A1D(O"U,%&" %&" D" &2*-"/D@" )'*" 8(?%D(" %(?2&+*%-&" +'"DI,%-E-" +,-"B'D1&"
D(?"+,-"?%*-I+%'(")'*"A*-AD*%(B"+,-">2&%(-&&"A1D("D(?")'*"-(&2*%(B"AD*+%I%AD+%'(O"F%C-/%&-G"
+,-"?-A-(?-(I-"')"'2*"D*3-?")'*I-&"'("%3A'*+-?"&@&+-3&"(--?&"+'"A*'B*-&&%E-1@"?-I*-D&-O"
#1&'G"D&" " " %&" " "?'(-"" "-1&-/,-*-G"8(?%D",D&"+'")'11'/"+,-"%(?2I+%'("')"A*'?2I+&" %("A,D&-&"
1%C-"0D*C"8G"0D*C"88G"-+IO"&'"+,D+"+-I,('1'B@"IDAD>%1%+@"D(?"A*'?2I+%'("""%()*D&+*2I+2*-"D*-"
>2%1+" %(" D" A,D&-?" /D@O" U,%&" &%+2D+%'(" /%11" I2+" ?'/(" +,-" ?-1D@" ')" &@&+-3&" *-D?%(-&&O"
U-I,('1'B%ID1"2(I-*+D%(+@"/%11">-"*-3'E-?"D(?"/%11%(B"%(E-&+3-(+">@"%(?2&+*%-&"3D@">-"
A'&&%>1-O"U,-"%(?2&+*%-&"&,'21?">-"B%E-("""D"I1-D*"3D(?D+-c/%11"+,-@""">-"?-E-1'A-*&e"W%11"
+,-@">-")D>*%ID+'*&"')"D("%(+-B*D+-?"&@&+-3",'2&-"D(?")'*"/,D+"A'&&%>1-"D*-D&e"":(I-"+,%&"
A'1%I@"%&"-(2(I%D+-?"%(?2&+*@"ID(")211@"AD*+%I%AD+-G"D&"+,-")%(D(I%D1"D&A-I+&"/'21?">-"I1-D*O"
X-I-(+1@" +,-" JXJ:" 'A-(-?" &-E-(" ')" %+&" 1D>'*D+'*%-&" )'*" %(?2&+*%-&" +'" A%IC" 2A"
+-I,('1'B%-&" D1*-D?@" ?-E-1'A-?O" U,-&-" %(?2&+*%-&" ,DE-" +'" &,DA-" +,-" +-I,('1'B%-&" )'*"
I'33-*I%D1"DAA1%ID+%'(O"
7&-*"+*%D1&"')"+,-"&@&+-3&"?-E-1'A-?"D*-"D("%3A'*+D(+"AD*+"')"+,-%*"%(?2I+%'(">@"+,-"
D*3-?")'*I-&O".'*3D11@G"2&-*" +*%D1&"A'&-"D">%B"I,D11-(B-" )'*" +,-"XjJ"D(?"+,-" %(?2&+*%D1"
-&+D>1%&,3-(+&O"W-" D*-" ('" -fI-A+%'(O" "92+" +,-" '2+I'3-"')" +,%&" -f-*I%&-" I'21?" ,-1A" +,-"
I'2(+*@"+'">-I'3-"""%(?-A-(?-(+"D(?"&-1)c*-1%D(+O"8)"+,-"#*3@",D&"+'"BD%("""%("&-1)c*-1%D(+O"
X-+,%(C%(B"%&"*-b2%*-?"%("%+&"A1D(&"')"2&-*"+*%D1&"D(?"D1&'"')"+,-"3%&&%'("*-b2%*-3-(+&O"8("
E%-/" ')" +,-" '(&-+" ')" +,-" A-*)'*3D(I-" -ED12D+%'(" +,*'2B," -f+-(&%E-" I'3>%(-?
!V]"
-(E%*'(3-(+D1" &%321D+%'(G"/'21?" %+">-"A'&&%>1-" +'"A1D(" )'*" *-?2I-?"&ID1-"2&-*" +*%D1" +-&+&"
)'*" ,%B," D1+%+2?-G" D(?" ?-&-*+" I'(?%+%'(&e" U,%&" /%11" *-&21+" %(" %(?2&+*%-&" 3'E%(B" 'E-*" +'"
&-*%-&"A*'?2I+%'("/%+,%("D"&,'*+"+%3-")'11'/-?">@")211c&ID1-"A*'?2I+%'(")'*"?'3-&+%I"D(?"
%(+-*(D+%'(D1" 3D*C-+&O" :)" I'2*&-G" D" &-*%-&" ')" +-I,('1'B%ID1" D(?" 3%1%+D*@" I'(&%?-*D+%'(&"
/'21?">-"E%+D1")'*"+DC%(B"&2I,"?-I%&%'(&O"
!"#$%4'43#"
U,-" D>'E-" ,D&" B%E-(" D" B1%3A&-"')" ?-)-(&-" *-&-D*I," D(?" %+&" %(+-*)DI-"/%+," 'A-*D+%'(D1"
&@&+-3&O"_2+2*-"?-)-(&-"'A-*D+%'(&"D*-"B'%(B"+'">-">D&-?"'("321+%A1-"(-+/'*C&"')"#*3@G"
.DE@G" #%*" _'*I-" D(?" &ADI-" &@&+-3&O" 8()'*3D+%'(" +-I,('1'B@" %&" B'%(B" +'" >-" 2&-?" %("
2(A*-I-?-(+-?"/D@&G" %(" +,-"A1D((%(B"&+DB-&G" %(" ED*%'2&" &%321D+%'("-f-*I%&-&G" D&"/-11" D&"
?2*%(B" DI+2D1" 'A-*D+%'(&" /,-(" +,-" (--?" D*%&-&O" " H'(+%(2D1" &2*E-%11D(I-" %&" B'%(B" +'" >-"
D('+,-*" )-D+2*-" %(" +,-" @-D*&" +'" I'3-O" U,%&" %&" ?'(-" +,*'2B," *-3'+-" &-(&%(BG"
I'332(%ID+%'(&"D(?"&-E-*D1"'+,-*"3-D(&O"H'(+%(2D1"%3A*'E-3-(+"')"&@&+-3&"/%+,",%B,-*"
A*-I%&%'(G" &A--?" D(?" 3D(-2E-*D>%1%+@" /'21?" D1&'" >-" D" AD*+" ')" +,%&" I'3A1-f" A%I+2*-O"
#?ED(I-&" %("3D+-*%D1&G" -1-I+*'(%I&G" D?ED(I-?" &-(&'*&g" %()'*3D+%'(" A*'I-&&%(BG" *'>'+%I&G"
D(?"D*+%)%I%D1"%(+-11%B-(I-"?*%E-"D11"+,-"I*%+%ID1"-1-3-(+&O"
;.)2*&#.$+#*+,3+"
#?ED(I-?" &-(&'*" +-I,('1'B@" ,D&" >--(" %?-(+%)%-?" +,-"/'*1?" 'E-*" D&" '(-"')" " " +,-"
I*%+%ID1" +-I,('1'B%-&" )'*" +,-" )2+2*-O"#?ED(I-?"&-(&'*&" *-b2%*-" " "21+*DcA2*-"3D+-*%D1&"D(?"
21+*DcI1-D(" 3D(2)DI+2*%(B" I'(?%+%'(&O" 8(+-B*D+-?" -1-I+*'(%I" ?-E%I-&" D*-" 2&%(B" 3%I*'"
&-(&'*&"""'("&2*)DI-"3'2(+-?"?-E%I-&O"#?ED(I-?"&-(&'*&"/%11">-"2&-?"%("-E-*@"&-B3-(+"')"
,23D("-(?-DE'*"I'E-*%(BG"DB*%I21+2*-G",-D1+,"&-*E%I-&G"D?ED(I-?"3D(2)DI+2*%(B"&@&+-3&G"
D?ED(I-?" DE%'(%I&G" 'A+%ID1" I'332(%ID+%'(&G" &ADI-" &D+-11%+-&G" &2A-*" &3D*+" ,%B,/D@&G"
>%'+-I,('1'B@G"B-(-+%I" -(B%(--*%(BG"A'112+%'("I'(+*'1G"?%DB('&+%I&" D(?"&'"'(O"0'1-I21D*"
D(?"&2A*D3'1-I21D*"&@&+-3&")'*"&-(&%(B"D(?"DI+2D+%'("D*-"I*-D+%(B"(-/"&-(&'*&"IDAD>1-"')"
3-D&2*%(B" A,@&%ID1G" I,-3%ID1" D(?" >%'1'B%ID1" AD*D3-+-*&O" 8(" E%-/" ')" +,-" &+*D+-B%I"
%3A'*+D(I-"')"&-(&'*&")'*"%(?2&+*%D1G"D-*'&ADI-"D(?",-D1+,"DAA1%ID+%'(&G" %+"%&"(-I-&&D*@"+'"
,DE-" D" (D+%'(D1" 3%&&%'(" '(" D?ED(I-?" &-(&'*&O"W-" /%11" 1'&-" '2+" %(" D11" D*-D&" %(I12?%(B"
DB*%I21+2*-" '*" +*D?-" %)" /-" ?'" ('+" ,DE-" &2))%I%-(+" (D+%'(D1" IDAD>%1%+@" %(" &-(&'*&G" &%(I-"
b2D1%+@" %3A*'E-3-(+G" A*'?2I+%E%+@" -(,D(I-3-(+" D(?" -()'*I-3-(+" ')" &+D(?D*?&" /%11
!VL"
*-b2%*-" 2&-" ')" D?ED(I-?" &-(&'*&O" 5(E%*'(3-(+D1" 3'(%+'*%(B" %&" D('+,-*" D*-D" >D&-?"
A*%3D*%1@"""'("&-(&'*&"I'(+%(2D11@"1''C%(B"D+"+,-"b2D1%+@"')"D%*G"1D(?"D(?"/D+-*O"
#"?-+D%1-?"D&&-&&3-(+"')"+,-"&+D+-"')"+,-"D*+"')"D?ED(I-?"&-(&'*&"%(?%ID+-&"+,D+"+,-"
)'11'/%(B"D*-"3Da'*"+-I,('1'B%ID1"""+*-(?&O
•" J-E-1'A3-(+"')"%(+-11%B-(+"'*"&3D*+"&-(&%(B"?-E%I-&
•" 53-*B-(I-"')"%(+-B*D+-?"321+%)2(I+%'(D1"&-(&'*&
•" <3D*+" &-(&'*&" &@&+-3&" IDAD>1-" ')" A-*)'*3%(B" %(+-B*D+%'(" &-1)c"
I'3A-(&D+%'("D(?"&-1) k"I'**-I+%'(
•" <-(&'*&"%(+-B*D+-?"/%+,"""DI+2D+'*&G"D(?
•" J-E-1'A3-(+" ')" D*+%)%I%D1" ('&-&G" /,%I," ID(" I*-D+-" '1)DI+'*@" %3DB-&G" %O-O"
&-(&'*&G"ID("&3-11"D(?"""b2D(+%)@"+,-"&3-11s"
8+"%&"""-&+%3D+-?"+,D+"+,-"/'*1?/%?-"?-3D(?")'*"&-(&'*&"/D&"')"+,-"'*?-*"')"p"Q">%11%'("%("
!\\Tg"7<#""",D&"D>'2+"QQ"A-*"I-(+"&,D*-"')"+,-"/'*1?"3D*C-+O"#(?"D(D1@&%&"')"+,-"/'*1?"
3D*C-+" )'*" &-(&'*&" %(?%ID+-" +,D+" %(?2&+*%D1" I'(+*'1G"3-?%ID1" D(?" &I%-(+%)%I" %(&+*23-(+&"
DII'2(+" )'*" QK" A-*" I-(+" ')" +,-" B1'>D1" " " 3D*C-+" ')" D" &-(&'*&O" " U-3A-*D+2*-" &-(&'*&"
DII'2(+")'*"P]"A-*"I-(+g"4*-&&2*-"&-(&'*&"PT"A-*"I-(+"D(?")1'/"&-(&'*&"=V"A-*"I-(+"')"+,-"
/'*1?" ?-3D(?O" " U,-" /'*1?" 3D*C-+" )'*" I,-3%ID1" D(?" >%'" I,-3%ID1" &-(&'*&" %&" *DA%?1@"
B*'/%(B"D(?"+,%&"%&"'(-"')"+,-"-3-*B%(B"-(?"c2&-"DAA1%ID+%'(&O""U,-"?-3D(?")'*"&-(&'*&"
%("8(?%D"/%11">-"D>'2+"X-&+O"QKK"3%11%'("""%(""=KKK""D(?""+,-""?'3%(D(+""2&-""/%11">-""%("
%(?2&+*%D1" " I'(+*'1" " D(?" " D2+'3D+%'(" " " DAA1%ID+%'(&O" " 8(" &A%+-" ')" +,-" " " )DI+" +,D+" %+" %&"
&+*D+-B%ID11@"%3A'*+D(+""")'*"""%(?2&+*%D1"D(?"?-)-(&-"DAA1%ID+%'(&G"8(?%D",D&"D"(-B1%B%>1-"
A*-&-(I-"%("+,-"D?ED(I-?"&-(&'*&"3D*C-+G"-E-("%("+,-"2&-"')"&-(&'*&G"('+"+'"3-(+%'("%("
+,-%*"3D(2)DI+2*-"D(?"?-E-1'A3-(+O"
U,'2B," +,-*-" D*-" D" 1D*B-" (23>-*" ')" %(&+%+2+%'(&" DI+%E-" %(" &-(&'*&" ?-E-1'A3-(+"
A*'B*D33-*&" " " %(" " " 8(?%DG" 3'&+" ')" +,-3" ,DE-" ('+" D&" " " @-+" D%3-?" +,-%*" -))'*+&" " " D+" D"
&A-I%)%I" A*'?2I+" '*" &-*E%I-O" " U,-*-" %&" ('" A*'B*D33-?" " " /,%I," %&" '*%-(+-?" +'/D*?&"
%(?2&+*@"'*"+,-",-D1+,"&-I+'*O"#"(23>-*"')"'*BD(%dD+%'(&",DE-"&+*'(B"IDAD>%1%+%-&"%("'(-"
'*"'+,-*"-1-3-(+"'*"&-(&'*&^" )'*"-fD3A1-G" )'*"3D+-*%D1"?-E-1'A3-(+"'*"&-(&'*"-1-3-(+"
?-E-1'A3-(+" '*" &-(&'*c" ?-E%I-" %(+-B*D+%'(O"U,-%*" (--?&" +'" >-" D" &,D*A-*" )'I2&" )'*" +,-"
&-(&'*&" A*'B*D33-?" " " >-&%?-&" I1'&-*" (-+/'*C%(B" D(?" D" " " a'%(+" ?-E-1'A3-(+
!VV"
A*'B*D33-?O""4-*,DA&"""(D+%'(D1"+-D3&G"D&"%&">-%(B"?'(-")'*"FH#G"I'21?">-"D"3'?-1"+'"
)'11'/O"
A2'(,*2/$03,83211#.$$$(*$2.)2*&#.$+#*+,3+"
8(?%D" ,D&" +'" 3'2(+" D" " " &,D*A1@" ?-)%(-?" (D+%'(D1" A*'B*D33-?" " " '(" D?ED(I-?"
&-(&'*&O" 8)" 8(?%D" ,D&" +'" >-I'3-" D" 3Da'*" A1D@-*" %(" D?ED(I-?" &-(&'*&" +,-*-" ,D&" +'" >-"
I'3A*-,-(&%E-"(D+%'(D1"3%&&%'(" %3A1-3-(+-?"%("+,-"I'(&'*+%D"3'?-O"<-E-*D1"?%&I%A1%(-&"
,DE-" +'" >-" %(+-B*D+-?" %(+'" ?-E-1'A%(B" )'I2&-?" A*'?2I+O" #3'(B" +,-" (-/" IDAD>%1%+%-&"
*-b2%*-?"D*-"3%I*'c)D>*%ID+%'("D(?"""3D(2)DI+2*-O""#11"DAA1%ID+%'("&-B3-(+&"')"D?ED(I-?"
&-(&'*&"(--?"&A-I%D1"D++-(+%'("/%+,"&A-I%)%I")'I2&"'("3D*C-+"?-E-1'A3-(+O"
U,-"3%&&%'("3D@">-"%3A1-3-(+-?"+,*'2B,"+,-"-f%&+%(B"%(&+%+2+%'(&"'*"+,*'2B,"+,-"
(-/"3-I,D(%&3O"R'/-E-*G" +,-"3%&&%'(",D&"+'">-"E-*@" " "I1-D*1@"?-)%(-?"D(?" %+",D&"+'">-"
-(?c2&-"'*%-(+-?O""8+"%&"A*-)-*D>1-G" %)" %(?2&+*%-&"+DC-"D"1-D?"%("+,%&"3%&&%'(O""7(1-&&"8(?%D"
,D&"&+*'(B"(D+%'(D1"IDAD>%1%+%-&"%("D?ED(I-?"&-(&'*&"/-"3D@"1'&-"'2+"%("D11"D*-D&"+'"(-/1@"
%(?2&+*%D1%d%(B"I'2(+*%-&G"&%(I-">'+,"%(?2&+*%D1"I'3A-+%+%E-(-&&"D(?"+*D?-"I'3A-+%+%E-(-&&"
D*-"B'%(B"+'"?-A-(?"2A'("+,-"IDAD>%1%+%-&"%("D?ED(I-?"&-(&'*&O""8(")2+2*-G"+,-"I'3A-+%+%E-"
-?B-"%("+,-"3D(2)DI+2*%(B"&-I+'*"D&"/-11"D&"%("&-*E%I-&"%&"B'%(B"+'">-"B*-D+1@"?-+-*3%(-?"
>@" +,-" " " 1D*B-c" &ID1-" 2&-" D(?" %(('ED+%E-" DAA1%ID+%'(&" ')" &-(&'*&O" " UD>1-&" \O=" D(?" \OP"
A*'E%?-" " " D" B1%3A&-" ')" &'3-" ')" &+*D+-B%ID11@" D(?" %(?2&+*%D11@" %3A'*+D(+" &-(&'*&O" " 8+" %&"
I*2I%D1"8(?%D"?-E-1'A&"3Da'*" %(?2&+*%-&" %("+,-&-"D*-D&G"/%+,"I'33-*I%D1" 1-E-1"'A-*D+%'(&"
%("+,-"?'3-&+%I"D(?")'*-%B("3D*C-+&O"F-+" 2&" ('/" 1''C" D+" D" )-/" -fD3A1-&" ')" &ADI-"
&@&+-3&G"/,%I,"/'21?")*'3"D"I'*-"')"&+*D+-B%I"&-I+'*"%(?2&+*%-&O"
93B,8#*(&$#*8(*#$%,3$EF7G"
_'*"+,-"&D+-11%+-"1D2(I,"E-,%I1-&G"D11c&'1%?"321+%c&+DB-"*'IC-+"&@&+-3&"'*"&'1%?"A12&"1%b2%?"
321+%c&+DB-" *'IC-+" &@&+-3&"'*" D11c" 1%b2%?"321+%c" &+DB-" *'IC-+" &@&+-3&" ID(" >-"2&-?O" "U,-"
I'&+"A-*"1D2(I,"%("%&"D"/D@"I'(+*'11-?">@"+,-"+DC-c'))"/-%B,+"')"+,-"1D2(I,"E-,%I1-"&@&+-3"
)'*" D" B%E-(" AD@1'D?" D(?" +@A-" ')" '*>%+" -(b2%*-?O" " U,-" I'&+c-))-I+%E-(-&&" %(" I'33-*I%D1
!V\"
1D2(I,"$-,%I1-&G" +,D+" %&G" +,-"I'&+"')" %(a-I+%(B"D"&D+-11%+-" %(+'"D"B-'c" &+D+%'(D*@"'*>%+"/%11"
?-I%?-"+,-"I,'%I-"')"+,-"A*'A-11D(+"&@&+-3")'*"%(?%E%?2D1"
U#9F5"\O="<+*D+-B%ID11@"83A'*+D(+"<-(&'*&!
&)(-! M(+,*)!$*!2(!0(1(.*<(0! C)(+0,! &:$#*+!+((0(0"8(-*+%D1"&-(&'*&")'*".DE%BD+%'("D(?"DE%'(%I&"
<-(&'*&")'*"&2>3D*%(-"?-+-I+%'(&"
DN"FD&-*"B@*'&"
>N"_%>-*"'A+%I"B@*'"
IN"0%I*'"DII-1-*D+'*"<o78J">D&-?"&@&+-3&"
J-E-1'A3-(+"')"21+*D"('%&-c)*--"D(?"&+D>1-"1D&-*&"J-E-1'A3-(+"')"%(+-B*D+-?"'A+%I"I,%A&"&2*)DI-"3%I*'"3DI,%(%(B"
<+*D+-B%ID11@"%3A'*+D(+"&-(&'*&"
<-(&'*&")'*"?-+-I+%(B"-fA1'&%E-&"&2I,"D&"XJm"D(?"(D*I'+%I&"
H'3>%(%(B"(2I1-D*"3DB(-+%I"*-&'(D(I-"
<o78J"&-(&'*&")'*"&-(&%(B"21+*D"D(?"/-DC"-1-I+*'c"3DB(-+%I")%-1?&"(2I1-D*"b2D?*2A1-"D*%&%(B")*'3"(2I1-D*"3DB(-+%I"*-&'(D(I-"M.0XNn(2I1-D*"b2D?*2A1-"*-&'(D(I-"M.oXN"*-&'(D(I-"A*%(I%A1-&"
4%-d'*-&%&+%E-"3%I*'"&-(&'*&" <2*)DI-"3%I*'"3DI,%(%(B"')"A'1@c"&%1%I'("3%I*'"&+*2I+2*-&"
J-E-1'A3-(+"')"3'('1%+,%I"&%1%I'("+*D(&?2I-*"%(I12?%(B"&%B(D1"I'(?%+%'(%(B"D(?"ID1%>*D+%'(O!
I%EKL!](O!
3;6>9B>!6;;,;,!J9B!"6,->=BD0.!%AA.D70=D96>"#*-D" <-(&'*"+'">-"
?-E-1'A-?"U*-(?&" #I+%'("(--?-?"
R23%?%+@"&-(&'*&" 4'1@3-*"-1-I+*'1@+%IG",-D+"+*-D+-?"A'1@3-*"?%-1-I+*%IG"%('*BD(%I"&2>&+D(I-"?%&+*%>2+-?"A'1@3-*"MI,D(B-"%("*-&%&+D(I-"?2-"+'",23%?%+@"D>&'*A+%'(N"
R23%?%+@"&-(&'*&"2&%(B"I,D(B-&"%("A-*3%+%E%+@"D(?"*-&%&+D(I-"(--?-?"+'">-"?-E-1'A-?O"U,%&"/%11"*-b2%*-")%*&+"?-E-1'A3-(+"')"&-(&'*&"3D+-*%D1"D(?
!\K"
H-1121'&-"&@&+-3"A'1@3-*"MI,D(B-"%("A-*3%+%E%+@N"
*-1D+-?"-1-I+*'(%I"I%*I2%+*@"
0-+D1"'f%?-"&%1%I'(")%-1?"-))-I+"+*D(&%&+'*"M0:<_5UN"2&%(B",23%?%+@"D>&'*A+%'("A'1@3-*"+'">-"?-E-1'A-?"
8(?2&+*%D1"A*'I-&&"I'(+*'1"D(?"&D)-+@"
HD*>'("AD*+%I1-"?%&+*%>2+-?",23%?%+@"D>&'*A+%'("*-&%(&"M&,D*A"I,D(B%(B"*-&%&+D(I-"/%+,"D>&'*A+%'("')",23%?%+@N"
#*-D" <-(&'* +'">-"?-E-1'A-?"
U*-(?&" #I+%'("(--?-?"
6D&"&-(&'*&")'*"A*'I-&&"I'(+*'1"
0:<_5U"x",23%?%+@"D>&'*A+%'("A'1@3-*"MI,D(B-"%("I,D*DI+-*%&+%I&"')"+*D(&%&+'*N"
o2D*+d"'&I%11D+'*"x"A'1@D3%?-"MI,D(B-"%("1'D?"')"'&I%11D+'*N"
:*BD(%I"&-3%I'(?2I+'*"M8(I*-D&-"%("I'(?2I+%E%+@"?2-"+'"D?&'*A+%'("')"BD&N"H'1'*%(B"3D++-*"3-3>*D(-"F9"3-3>*D(-"M)12'*-&I-(I-"b2-(I,N"o2D*+d"'&I%11D+'*"x"'*BD(%I"+,%(")%13"MI,D(B-"%("1'D?"'("E%>*D+'*N"6D&"+*D(&3%&&%'("A'1@3-*"3-3>*D(-"x"-1-I+*'?-"M&-1-I+%E-"A-*3-D+%'("')"BD&G"-1-I+*'I,-3%ID1"*-DI+%'(N"
<2*)DI-"DI'2&+%I"/DE-"&-(&'*&"+'">-"?-E-1'A-?"
#*-D" <-(&'*"+'">-"?-E-1'A-?"
U*-(?&" #I+%'("(--?-?
!\!"
<-(&'*&")'*"3'(%+'*%(B"+'f%I"BD&-&"
#*+%)%I%D1"('&-&" J-E-1'A3-(+"')"321+%I'3A'(-(+"3'1-I21D*"*-I'B(%+%'("&@&+-3&"
8(?2&+*%D1"A*'I-&&"I'(+*'1"D(?"&D)-+@"
8(?2I+%E-"A*'f%3%+@"&-(&'*&"
.'(cI'(+DI+"3-+D1"?-+-I+%'("&-(&'*&"/%+,"/%?-"'A-*D+%(B"*D(B-"D(?")D&+"*-&A'(&-"
J-E-1'A3-(+"')"A*'f%3%+@"&-(&'*&"D(?"&-(&'*"D1%B(3-(+"+-I,(%b2-&"
<-3%I'(?2I+'*"?%&A1DI-3-(+"1D&-*"&-(&'*&"
F%B,+c-3%++%(B"?%'?-&"'*"&-3%I'(?2I+'*"1D&-*">D&-?"&-(&'*&"
F%B,+"&'2*I-"D(?"A'&%+%'("&-(&%+%E-"?-+-I+'*"?-E-1'A3-(+"
<+DB-&O"".'*3D11@G"D"""1%b2%?"""*'IC-+"&@&+-3"/%11">-"')"""D"""1'/-*"/-%B,+"D(?"""/%+,"D"
I*@'B-(%I"2AA-*"&+DB-")2*+,-*"/-%B,+"*-?2I+%'("%&"DI,%-E-?O"
_'*"-fD3A1-G" +'"A1DI-"D"=OQc+'("AD@1'D?" %("D"B-'c+*D(&)-*"'*>%+G"D("D11c&'1%?"321+%c"
&+DB-"1D2(I,"E-,%I1-"/%11",DE-"D"+D1Cc'))"/-%B,+"')"Q=Q"+'(&O"U,%&"/%11"*-?2I-"+'"TLK"+'(&"
%)"+,-"1%b2%?"&+DB-"*-A1DI-&"+,-"&'1%?"2AA-*"&+DB-&O"8+"/%11")2*+,-*"*-?2I-"+'"TQK"+'(&"/%+,"
D11c1%b2%?" &+DB-&"D(?"-E-(+2D11@" +'" 1-&&" +,D("PKK" +'(&"/,-("D"I*@'B-(%I"-(B%(-" *-A1DI-&"
+,-"2AA-*"&+DB-O"U,-"3Da'*"?%))-*-(I-&"%("+DC-c'))"""/-%B,+"D*-"-E%?-(+O"8+"%&"&D%?"%("""+,-"
&ADI-"I'332(%+@"+,D+")'*"-E-*@"D??%+%'("C%1'B*D3"')"AD@1'D?G"D")-/"1DC-&"')"*2A--&"/,-("
2+%1%d%(B"+,-"I*@'B-(%I"-(B%(-"/%11"*-?2I-"+,-"I'&+O""U,-"A*'A-11D(+"2&-?"%("+,-"I*@'B-(%I"
-(B%(-" %&"D"I'3>%(D+%'("')" " " 1%b2%?" " "'f@B-("D(?" 1%b2%?",@?*'B-(" %(" &A-I%)%I"*D+%'&O"U,-"
A*'A'&-?"""I*@'B-(%I"-(B%(-")'*"8(?%DY&"6-'&@(I,*'('2&"<D+-11%+-"FD2(I,"$-,%I1-G"6<F$"
%&"')"!=c+'("+,*2&+"I1D&&O"U,-"-(B%(-"/-%B,&"'(1@"=QK"CB"D(?",D&"D"1-(B+,"')"PO!"3-+-*&O"
U,-" -(B%(-" ,D&" +'" >-" E-*@" I'3ADI+" /%+," A*'A-*" %(&21D+%'(G" *-B-(-*D+%E-" I''1%(B" D(?"
&-D1%(B")'*",D(?1%(B"1%b2%?"'f@B-("D(?",@?*'B-(O"
U,-" -(B%(-" ,D&" +'" >-" I1'&-1@" I'2A1-?" +'" +,-" +D(C" DB-&" D(?" )1'/" I'(+*'1" ?-E%I-&" +'"
)'*3" +,-" 2AA-*" &+DB-O" U,-" A*'A-11D(+" 1'D?%(BG" +*D(&)-*G" %(&21D+%(B" D(?" A*-&&2*%d%(B"
&@&+-3&"D*-"%(+-B*D+%'("%(+'"'(-"%(+-B*D1"&@&+-3")'*"3'?21D*",D(?1%(B"D(?"'A-*D+%'(O"U,-"
+-I,('1'B%ID1"I,D11-(B-&"%("*-D1%d%(B"+,%&"&+DB-"D*-"3D(@O"U,-"3D+-*%D1&"&-1-I+-?",DE-"+'"
/'*C" D+" 3%(2&" =QPy" H-1&%2&" D&" /-11" D&" D+" ,%B," +-3A-*D+2*-&" ')" !LQKy" H-1&%2&"
I'(+%(2'2&1@O"U,-" ('dd1-" D(?" +,*2&+" I,D3>-*" ,DE-" +'" >-" *-B-(-*D+%E-" I''1-?"2&%(B" +,-"
1%b2%?",@?*'B-(" %+&-1)O"_'*"+,-" 1%b2%?",@?*'B-("+2*>'"A23AG"&A--?",D&"+'">-"3D%(+D%(-?
!\="
D>'E-" QKKKK" *-E'12+%'(&" A-*" 3%(2+-" M*A3NO" H'3AD*-" %+" /%+," +,-" *-E'12+%'(&" ')" @'2*"
3'+'*ID*"-(B%(-G"/,%I," %&"QKKK" *A3G"D(?"')"D"I'33-*I%D1" a-+" D%*I*D)+" -(B%(-G"/,%I," %&"
D13'&+" !QKKK" *A3O" H'(&%?-*%(B" +,-" )D>*%ID+%'(G" 3D+-*%D1" +-I,('1'B@G" /,%I," %&" &-D1%(BG"
>-D*%(BG" %(&21D+%(B" +-I,('1'B%-&" D(?" +,-" A*'I-&&" ')" 3DC%(B" +,-" ED*%'2&" I*@'B-(%I" &2>c"
&@&+-3G"+,-"I'2(+*@",D&"@-+"+'"?-E-1'A"D11"+,-&-"D(?"'2*"%(?2&+*%-&"D(?"Xj"J"1D>'*D+'*%-&"
,DE-"+'"/'*C"+'B-+,-*")'*"+,%&" %3A'*+D(+"+D&CO"#"?-&%B("D(?"3D(2)DI+2*%(B"?D+D>D&-",D&"
+'">-"-&+D>1%&,-?"&'"+,D+"('"I'2(+*@"ID("I'3-" %(" +,-"/D@"')"'2*"&ADI-"A*'B*D33-*&O" 8("
+,%&"I'(+-f+G"%+" %&"-&&-(+%D1"+'"('+-"+,D+"I*@'B-(%I"-(B%(-&"ID(('+">-"2&-?")'*"D(@"3%&&%1-"
DAA1%ID+%'("D&"+,-%*"&+'*DB-"1%)-"%&"1%3%+-?G"+,-")%11%(B"'A-*D+%'(&"ID(">-"&-(&-?"%("D?ED(I-"
D(?" ('" 3'>%1%+@" %&" A'&&%>1-O" U,-" D*B23-(+" +,D+" I*@'B-(%I" -(B%(-&" ID(" >-" 2&-?" )'*"
3%&&%1-&G" o2'+%(B" 0%&&%1-" U-I,('1'B@" H'(+*'1" X-B%3-G" %&" ('(c+-I,(%ID1" D(?"
I'33-*I%D11@"3'+%ED+-?O"
W,-*-"D*-"/-"%("D-*'"A*'A21&%'(e"
W,-*-"D*-"/-" %("D-*'"-(B%(-&"D(?"A*'A21&%'(e" 8(?%D"/%+," %+&"FH#"A*'B*D33-?" %&" ('/"
?-E-1'A%(B"D"2(%b2-1@"I'()%B2*-?"6U"-(B%(-"D&"?-&I*%>-?"-D*1%-*O"<%3%1D*1@G" )'*"6<F$G"
8(?%D",D&"+'"?-E-1'A"/%+,%("<I,-?21-G"D"I*@'B-(%I"-(B%(-"D(?"&+D(?"'("%+&"'/("%+Y&")--+"%("
+,-" D*-D" ')" &D+-11%+-" 1D2(I,%(BO" 8+" ID(" >-" &--(" +,D+" %(" >'+," +,-&-" D*-D&" /-" D*-" 1DBB%(B"
>-,%(?"+,-"?-E-1'A-?"I'2(+*%-&">-ID2&-"/-"?%?"('+")--1"+,-%*"%3A'*+D(I-G"B%E-("+,-"1-E-1"
')"D-*'&ADI-"+-I,('1'B@"3%&&%'("+DC-("2A"%("+,-"I'2(+*@"%("+,-"AD&+O"U'?D@G"+,-"A*%'*%+@"
B%E-(" +'" I'33-*I%D1" D(?"3%1%+D*@" D%*I*D)+" D&"/-11" D&"6<F$G" I*@'B-(%I" -(B%(-&" D(?" a-+"
-(B%(-&" ,D&" >-I'3-" E%+D1O" 9*%?B%(B" +,-" BDA" %(" +-I,('1'B%-&G" +'" >-I'3-" D" AD*+" ')" +,-"
1-D?-*&"%("+,-"BD3-"%&"('+"D("%3A'&&%>1-G"+'"+D&CO"U,-"AD*+(-*&,%A">-+/--("'2*"%(&+%+2+%'(&"
D(?" %(?2&+*%-&" ID(" DII-1-*D+-" ?-E-1'A3-(+" D(?" '2*" +-I,('1'B@" DIb2%&%+%'(O" 8+" /%11" D1&'"
,-1A" +D%1'*" +,-" +-I,('1'B@" DIb2%*-?" +'"'2*" %()*D&+*2I+2*-" D(?" (--?&O" 8+" ID(" >-" &--(" +,D+"
/%+,"+,-"1D2(I,"')"A'1D*"<D+-11%+-"FD2(I,"$-,%I1-"M4<F$NG"/-"D*-"D13'&+"D+"AD*"/%+,"+,-"
?-E-1'A-?" I'2(+*%-&" %(" +,-" D*-D" ')" &'1%?" A*'A-11D(+" A'/-*" A1D(+&O" " U,-" 4<F$" ,D&" D1&'"
-&+D>1%&,-?"+,-"+-I,('1'B%-&"')"&+'*D>1-"1%b2%?"A*'A-11D(+&"D(?"*-1D+-?"A*'A21&%'(O"
R@A-*"A1D(-&"')"+,-")2+2*-"
JXJ:",D&"-(+-*-?"%(+'"*D3"*'IC-+""""&@&+-3&"/,-*-"32I,",%B,-*"-(-*B@"1-E-1&"M')"D>'E-"
QKK"&-I"/%+,"&'1%?"A*'A-11D(+&"""D(?"2(+'"!KKK&-I"/%+,"1%b2%?"A*'A-11D(+&N"%11">-"*-D1%d-?O
!\P"
U,-"&I*D3a-+"-(B%(-"/%11"B%E-"-(-*B@" " " "')"PKKK&-IO" "H'3AD*-" +,%&"/%+," " "QK&-I"')"I*@"
-(B%(-&s""U,%&"%&"('+"'(1@")'*"3%1%+D*@"DAA1%ID+%'(O"U,-&-"&2A-*&'(%I"I'3>2&+%'("-(B%(-&"
,DE-" DAA1%ID+%'(" )'*" I*2%&-"3%&&%1-&G" 1D2(I," E-,%I1-&" D(?" ,@A-*" A1D(-&" ')" " " +,-" )2+2*-O"
8(?%DY&"A*'A'&-?"&I*D3a-+" %&"?-&%B(-?" )'*"'A-*D+%(B"2A"+'"0DI,"!=O" "8("+,-" 1'(B"+-*3" %+"
I'21?">-I'3-"AD*+"D(?"AD*I-1"')"'2*"a-+"D%*I*D)+"+''O""H2**-(+1@G"'(1@"D""")-/"I'2(+*%-&"D*-"
/'*C%(B"%("+,%&"D*-DO""9D&-?"'("'2*"-fA-*%-(I-"/%+,"FH#"D(?"6<F$G"8(?%D"&,'21?"D+"1-D&+"
+DC-"%(%+%D+%E-"%(" ""+,-"-1-3-(+&"')" +,-",@A-*"A1D(-"A*'B*D33-?"" "&'"+,D+"8(?%DY&",@A-*"
A1D(-"" "D(?" )2+2*-"#-*'&ADI-"E-,%I1-&"ID(">-">2%1+"D*'2(?"+,%&"A'/-*"A1D(+O" "U,-"R@A-*"
A1D(-"ID("?-1%E-*"D"AD@1'D?"')"D>'E-"PK"+'(&")'*"D"+DC-'))"W-%B,+"')"=QK"+'(&G"B%E%(B"""D"
b2D(+23"a23A")'*"+,-"-f%&+%(B"AD@1'D?"n"+DC-"'))"*D+%'&"')"3Df"P"A-*"I-(+"+'"!Q"A-*"I-(+"
+,*'2B,"3D&&"D??%+%'(O"
#" )2+2*-" " " ,@A-*" A1D(-" 3%&&%'(" ID(" ,DE-" D(" %(+-B*D+-?" " " A'/-*" A1D(+" I'3A1-f"
/'*C%(B" %("+,*--"3'?-&O"_D("*D3a-+"-(B%(-"3'?-"" " %(" 1'/"D1+%+2?-G" 1'/" " "&A--?" " " )1%B,+"
*-B%3-&O"<I*D3a-+"-(B%(-" " "3'?-" " " %("0D*I," " "(23>-*" *D(B-" " "P" +'" " "!=" " " D1'(B" " "/%+,"
D%*1%b2%)%ID+%'(""""D(?"""3D&&""""D??%+%'(O"X'IC-+"""-(B%(-"3'?-"""+%11"""AD@1'D?"1D2(I,%(BO"8("
+,-"I*%+%ID1" " " " +-I,('1'B@"D*-D&" " "')" " " &I*D3a-+" " " -(B%(-G"'2*"D-*'&ADI-"&I%-(+%&+&" " " " &+D*+"
/%+," " " +,-" " "?-&%B(G"?-E-1'A3-(+"D(?" %(+-B*D+%'(" ')" )%f-?"B-'3-+*@" " " D%*" %(+DC-&" " " )'*"D"
/%?-" 3DI," (23>-*" *D(B-" " " &2AA'*+-?" " " -f+-(&%E-1@" >@" " " D(D1@+%ID1" +''1&" 1%C-"
H'3A2+D+%'(D1" _12%?"J@(D3%I&" " MH_JN"D(?" " " -fA-*%3-(+D1" &-+" 2A" 1%C-",@A-*&'(%I"/%(?"
+2((-1O"""U,-"I'3>2&+'*"""?-E-1'A3-(+"%(I12?%(B"""+,-"""3D+-*%D1G")D>*%ID+%'("+-I,('1'B@"
D(?"""I'3>2&+%'("C%(-+%I&""",D&""" a2&+""">-B2(O"U-&+"""D(?"-ED12D+%'(")DI%1%+%-&"""D*-"+'">-"
A1D((-?""")'*"""A*'+'+@A-"""D(?""")211"""&ID1-" -(B%(-""""+-&+%(BO"
9@" " =K!KG" I'33-*I%D1" " " a-+" D%*I*D)+G" 3%1%+D*@" " " )%B,+-*&" *-2&D>1-" &D+-11%+-" 1D2(I,"
E-,%I1-" D(?" " " " +,-" " " *-2&D>1-" " " +-**-&+*%D1" " "AD@1'D?"?-1%E-*@" " " E-,%I1-" " "/%11" " " ,DE-"'(-"
I'33'(")-D+2*-G"+,D+"""%&G"+,-"2&DB-"""')"""&2A-*&'(%I"""I'3>2&+%'("""-(B%(-&""")'*""")1@%(B"
%(""",@A-*&'(%I")1%B,+"*-B%3-&O"
U,-"*-D1"A*'1%)-*D+-&"
X-I-(+1@" 8"D??*-&&-?"?%A1'3D+&" %(" " "J-1,%"'(" +,-" " " &2>a-I+" " " "')" (2I1-D*"A*'1%)-*D+%'(O" 8"
'))-*" " "D(" " " -f+*DI+^" " h?2*%(B"3@"+-(2*-" %("J-1,%G" 8"3D?-"D"&+2?@"" "')" +,-"" "A*'1%)-*D+%'("
?'I+*%(-"%(%+%D+-?""">@"+,-")%E-"""(D+%'(&O""U,-"7<#")'*"+,-"1D&+")'2*"?-ID?-&G"2(+'"!\\KG
!\T"
DII2321D+-?"" "D>'2+"!KGKKK"(2I1-D*"/D*,-D?&" " "D(?"" "D13'&+" " "D("-b2D1" " "(23>-*" " "/D&"
DII2321D+-?">@"+,-"-*&+/,%1-"<'E%-+"7(%'(O"#(?"""+,%&"I*2-1""")D(D+%I%&3"""/D&"""a2&+%)%-?"
%(" +,-" " " (D3-" ')" " " %?-'1'B@" ')" HDA%+D1%&3" E-*&2&" I'332(%&3s" " U,-" &--?&" ')" (2I1-D*"
A*'1%)-*D+%'("/-*-" " " +,2&" &'/(O" " U,-&-" +/'" (D+%'(&" 2&-?" (2I1-D*"/-DA'(&" D&" D" +''1" +'"
&2>'*?%(D+-" " " '*" " " %()12-(I-" " " 3D(@" " " (D+%'(D1" A'1%+%I&" " " >@" B%E%(B" &'cID11-?" (2I1-D*"
+-I,('1'B@")'*"A-DI-)21"DAA1%ID+%'("'*"(2I1-D*"A'/-*"&+D+%'(&O"_'*"I,%(DG"(2I1-D*"/-DA'("
+-I,('1'B@"/D&"B%E-(">@"+,-"<'E%-+"7(%'("D(?"/-",DE-"/%+(-&&-?"*-I-(+1@"+,D+"+,-"&D3-"
?-E-1'A-?" I'2(+*%-&" ,DE-" -(&2*-?" +,D+" 4DC%&+D(" /%11" ,DE-" D" I-*+D%(" (23>-*" ')" (2I1-D*"
/-DA'(&O"#")'*3-*"A*%3-"3%(%&+-*"')"4DC%&+D(",D&"*-A'*+-?"+,%&O"
U,-")%E-"/-DA'("I'2(+*%-&"A*'I1D%3-?"""+,D+"+,-@"/-*-"+,-"(D+%'(&"&'1-1@"DAA*'E-?"
+'"A'&&-&&"(2I1-D*"/-DA'(&O"U,-@"-E'1E-?"I-*+D%("%(+-*(D+%'(D1"A'1%I%-&O"U,-"+'+D1"(23>-*"
')"/D*,-D?&"+,-@"A'&&-&&-?"/D&"&'"3D(@"+,D+"+,-@"I*-D+-?"
<D)-+@"D(?"&-I2*%+@"A*'>1-3&"')"+*-3-(?'2&"3DB(%+2?-")'*"+,-"/'*1?O""U,-&-"+/'"(D+%'(&"
?*%E-(" >@" +,-" A-'A1-" (-B'+%D+-?" <U#XUc" zz" M<+*D+-B%I" #*3&" X-?2I+%'(" U*-D+@NO" U,-@"
&%B(-?"D"+*-D+@")'*"*-?2I%(B"+,-"/D*,-D?&G"%(I12?%(B"+,-"?-1%E-*@"ID**%-*&"+'"PKKKO/,-("8"
D&C-?"J*"W%11%D3"4-**@G"7<"&-I*-+D*@")'*"?-)-(&-G"?2*%(B",%&"E%&%+"+'"8(?%DG"/,@"PKKK"D(?"
('+" d-*'" D&"42(?%+" [D/D,D*1D1".-,*2" " " ,D?"A2+" )'*+," " " +,-" I'(I-A+"')" I'3A1-+-" (2I1-D*"
/-DA'(&"%&"D"?*-D3O"R-"3-D(+"+,D+"+,-"(2I1-D*"/-DA'(&"&,'21?"D1/D@&">-"/%+,"+,-"I12>"
')")%E-"D(?">-"D"?*-D3")'*"
:+,-*&O""W-"ID("D&&23-"+,D+"D+"('"+%3-"/%11"+,-"""(D+%'(&"I'3-"+'"d-*'"1-E-1"""')"""(2I1-D*"
/-DA'(&O" .2I1-D*" /-DA'(&" D*-" D" &+*'(B" I'3A'(-(+" " " ')" +,-" B1'>D1" &+*D+-B@" " " +,-@"
E%&2D1%d-O"_'*"+,-3"+,-@"D*-"/-DA'(&"')" ""A'1%+%ID1"&+*-(B+,"""D(?">@"A*'ADBD+%(B"D"('(c"
A*'1%)-*D+%'("?'I+*%(-"+,-@"I1D%3"+'"B-(-*D+-"A-DI-O"8+"/D&"D"?-1%B,+)21"A*%E%1-B-")'*"J#5"
D(?"JXJ:"+-D3&O"9DIC-?"2A">@"+,-"A'1%+%ID1"1-D?-*&,%AG"+'">*-DC"+,%&"?D(B-*'2&"D(?"&-1)c"
I-(+-*-?"3'('A'1@"')"(2I1-D*"/-DA'("&+D+-&O"
<%3%1D*1@G" %(" +,-" D*-D" ')" I,-3%ID1" '*" >%'1'B%ID1" /-DA'(&" '*" 3%&&%1-" &@&+-3&G" +,-"
'*%B%("')"+,-%*"A*'1%)-*D+%'("%&"+,-"&D3-O"8)"'(-"'A-(&"+,-"4D(?'*DY&">'f"')"A*'1%)-*D+%'(G"
'(-"/'21?"&--"7<#"D(?"+,-" )'*3-*"<'E%-+"7(%'(G"/%+,"+,-"*-I-(+"D??%+%'("')"H,%(DO"8)"
+,-*-"I'21?" >-"D(" %3AD*+%D1"/'*1?" >'?@G" ('+"?*%E-(" >@" +,-" &2A-*A'/-*&G" +,-"?-E-1'A%(B"
I'2(+*%-&"D))-I+-?">@"+,%&"?D(B-*'2&"A*'1%)-*D+%'("ID("&--C"a2&+%I-"D(?"I'3A-(&D+%'(G"HD("
/-"?*-D3")'*"&2I,"D"(-/"D(?"a2&+"/'*1?e
!\Q"
<+*D+-B%I"%(?2&+*%-&c+,-")2+2*-"')"8(?%D"
W-"D*-"D>1-"+'"A*'E%?-"'(1@"D"B1%3A&-"')"D")-/"%3A'*+D(+"-1-3-(+&"')"&+*D+-B%I"%(?2&+*%-&"
+'">-"?-E-1'A-?" %("8(?%DO"U,-"'(I-"?-&I*%>-?"D*-"/-11"/%+,%("'2*"*-DI,c+-I,('1'B%ID11@G"
%(E-&+3-(+"/%&-"D(?"&I,-?21-"/%&-O"8)"%(?2&+*%-&"D(?"%(&+%+2+%'(&G"/'*C"+'B-+,-*"/%+,"I1-D*"
E%&%'("D(?"B'D1&"%("3%(?"D(?"/%+,"D&&%?2'2&">2%1?c2A"')"3D*C-+&"*%B,+")*'3"+,-"/'*?"B'G"
8(?%D("%(?2&+*%-&"ID("*-DA"*%I,"I'33-*I%D1">-(-)%+&O"#1&'"1-+"2&"('+")'*B-+"+,-")DI+"+,D+"D"
&+*D+-B%I"+-I,('1'B@"'*" %(?2&+*@"+'?D@G"/%11",DE-"?D@c+'c?D@"DAA1%ID+%'(&" %("3D(@"/D1C&"
')" 1%)-" +/'"?-ID?-&" ,-(I-O"U,-*-)'*-G" %+" %&"'2*"?2+@" +'">2%1?" +,-" (-I-&&D*@" +-I,('1'B%-&"
+'?D@"&'"+,D+" +,-" )2+2*-"B-(-*D+%'("')"8(?%D(&"/%11",DE-"(-/"/'*1?&"+'"I'(b2-*"D(?"('+"
,DE-"+'"&+*2BB1-"/%+,"+,-"A*'>1-3&"')"h>*%?B%(B"+,-"AD&+"BDA&Y"D&"/-"D*-"?'%(B"+'?D@s"W-"
'/-"%+"+'"+,-")2+2*-"B-(-*D+%'(&"+,D+"/-",D(?"+,-3"'E-*">@"=K=K"'(1@"+,-"-fI%+-3-(+"D(?"
I,D11-(B-*&"')" +,-" )2+2*-"D(?"(%+" +,-"/-%B,+"')"A*'>1-3&"')" +,-"AD&+"'*" +,-"I*%&-&"')" +,-"
A*-&-(+O":(1@" +,-("/%11" 8(?%D" ,DE-" +*21@" D**%E-?"D&"D"?-E-1'A-?"I'2(+*@"A'A21D+-?"/%+,"
A*'2?"A-'A1-"I'()%?-(+"')"+,-%*")2+2*-O
!\]"
H,DA+-*"!K!
b;0.=@!?0B;!J9B!0.."
J'(Y+"B%E-"D"A1DI-"+'"?%&-D&-O"c#2ED%@@D*G"UD3%1"&D%(+cA'-+-&&"
_'*3-*"4*%3-"0%(%&+-*"8O;O"6'*D1G"%(",%&"D??*-&&"+'"+,-"!\\V<I%-(I-"H'(B*-&&"D+"R@?*%DG"
3D?-"D"*-E-D1%(B"*-3D*C"'("+,-"&+D+-"')"'2*">D&%I"D3-(%+%-&O"h8"&--">-)'*-"3-"+,-">'++1-?"
/D+-*g"/D+-*"C-A+")'*"+,-"?%B(%+D*%-&"'("+,-"?D%&O"8+"*-3%(?&"3-"')"+,*--"I1D&&-&"')"8(?%D(&^"
'(-"/,'"ID("D))'*?">'++1-?"/D+-*g"'+,-*&"/,'"3D(DB-"+'"B-+"&'3-"/D+-*"%("+,-%*"+DA&"'*"%("
D"(-D*">@"+DA"'*"D"A23A"%**-&A-I+%E-"')"%+&"b2D1%+@"'*"*-B21D*%+@"')"&2AA1@g"+,-"+,%*?"&-+"')"
8(?%D(&"D*-"+,'&-")'*"/,'3"?*%(C%(B"/D+-*" %&"D"?D%1@"A*'>1-3"D(?"/,'"/%11">-"*-D?@"+'"
?*%(C"D(@"A'112+-?"/D+-*YO"_'*"&2I,"D"&%+2D+%'("+'"A-*&%&+"D)+-*")%)+@"@-D*&"')"%(?-A-(?-(I-"
/D&"D"(D+%'(D1"&,D3-G",-"D??-?O"7()'*+2(D+-1@G"%)"/-"?'"('+"?'"-('2B,"'("+,%&")*'(+G"D(?"
+,-"X-1D+-?"'(-"')",-D1+,"ID*-G"+-("@-D*&"?'/("+,-"*'D?"/-"3%B,+"&+%11">-"&D@%(B"+,-"&D3-"
+,%(BO" 8(" +,-" 21+%3D+-" D(D1@&%&G" D(@" &'I%-+@" /%11" >-" a2?B-?" >@" %+&" D>%1%+@" +'" A*'E%?-"
2(%E-*&D1" ,-D1+," ID*-" )'*" %+&" A-'A1-O" U,%&" ?'-&" ('+" 3-*-1@" -(+D%1" +,-" D>%1%+@" +'" +*-D+"
?%&-D&-&"D(?"D1%3-(+&" >2+"D1&'" +'"A*-E-(+" +,-%*"'(&-+">@"3-D(&"')" &2%+D>1-" &@&+-3&"D(?"
3-D&2*-&O"W-"D*-" D/D*-" +,D+" ('+"D11"?%&-D&-&"D*-"-(+%*-1@G"'*"?%D>-+-&O"W-"?'"('+",DE-"
I2*-&" )'*"3D(@"B-(-+%I" ?%&'*?-*&O" 4-*3D(-(+" I2*-&"3D@" ('+" >-" A'&&%>1-" -E-(" )%*"3D(@"
D11-*B%-&"D(?"*-&A%*D+'*@"A*'>1-3&"&2I,"D&"D&+,3DO"R'/-E-*G"+,*'2B,"*-B21D*"3-?%ID+%'("
D(?"A*-ID2+%'(D*@"3-D&2*-&G"3'&+"AD+%-(+&"ID("1-D?"('*3D1"1%E-&O!
4#,(-,(!<)(1(+$#*+"
0'&+" I'332(%ID>1-" ?%&-D&-&G" ,'/-E-*G" ID(" >-" A*-E-(+-?" >@" <2%+D>1-" &D(%+D+%'("
&@&+-3&G" I'(+*'1" ')" ?%&-D&-c&A*-D?%(B" 3D+-*%D1&" M&2I," D&" )'21" /D+-*N" '*" E-I+'*&" M1%C-"
3'&b2%+'-&NG" D(?" >@" %332(%dD+%'(" A*'B*D33-*&" ID**%-?" '2+" '(" D" 1D*B-" &ID1-O" 4D@%(B"
D?-b2D+-"D++-(+%'("+'"(2+*%+%'("D(?"?%-+D*@"&2AA1-3-(+&"ID("I'(+*'1"D"(23>-*"')"?%&-D&-&O"
_'*"-fD3A1-G"+,-"2&-"')"%'?%d-?"&D1+"ID("A*-E-(+"B'%+-*G"/,%I,"%&"*D3AD(+"%("3D(@"AD*+&"')"
+,-"I'2(+*@O"U,-"%(+DC-"')"E%+D3%("#"ID("A*-E-(+">1%(?(-&&O"61'>D11@G"=Q"A-*I-(+"')">1%(?"
D(?" E%&2D11@" ,D(?%IDAA-?"A-*&'(&"D*-" %(" 8(?%Ds"#(?G"')"I'2*&-G"D3'(B"A-'A1-"/,'"ID(
!\L"
D))'*?"%+G"D">D1D(I-?")''?"%(+DC-"D(?"A,@&%ID1"-f-*I%&-"ID(",-1A"A*-E-(+"&-E-*D1")'*3&"')"
,-D*+"?%&-D&-O"
U,-"*%I,"D+" 1-D&+",DE-"DII-&&"+'"%()'*3D+%'("D>'2+",-D1+,c*-1D+-?"%&&2-&"%("3D(@"
/D@&^" +,*'2B," a'2*(D1&"D(?"3DBDd%(-&G"?%&I2&&%'(&"/%+,"'+,-*&"D(?" E%&%+&" +'"?'I+'*&"
D(?" 3-?%ID1" &A-I%D1%&+&O" U,D+" %&" ('+" +,-" ID&-" /%+," 3D(@" 1'/-*c%(I'3-" B*'2A&" D(?"
A''*-*"A-'A1-O"U,-*-"%&"D"+'+D1"D>&-(I-"')",-D1+,"-?2ID+%'("D3'(B"+,-&-"&-I+%'(&O"#(?"
-E-("%)"+,-@"/D(+"+'G"3D(@"')"+,-3"ID(('+"D))'*?"D"E%&%+"+'"D"?'I+'*G"'*"D))'*?"*-B21D*"
3-?%ID+%'("/,-("%+"%&"2*B-(+1@"*-b2%*-?O"0'*-"')+-("+,D("('+G"+,-@"-(?"2A"*-1@%(B"'("
b2DIC&O"9D**%(B"D"&3D11"A-*I-(+DB-G"3'&+"A*%3D*@" ,-D1+,"ID*-" M4RHN"I-(+-*&"?'"('+"
A*'E%?-"D(@"+D(B%>1-",-D1+,"ID*-"+'"A-'A1-O"U,-*-"D*-"3D(@"*-D&'(&")'*"+,%&^"%**-B21D*"
D(?"1%3%+-?"&2AA1@"')"3-?%I%(-&G"('+"-('2B,"?'I+'*&"'*"AD*D3-?%ID1"&+D))G"ID11'2&"D(?"
DAD+,-+%I"3-?%ID1" &+D))G" +,-" 1-E-*DB-"')" %()12-(+%D1" 1'ID1" %(?%E%?2D1&G" +,-" -fI-&&%E-1@"
>2*-D2I*D+%I"'A-*D+%'("')"+,-"&@&+-3O"J-&A%+-"D11"+,%&"%+"%&"I*-?%+D>1-"+,D+"+,-"?-D+,"*D+-"
%("8(?%D",D&"I'3-"?'/("+'"\"MA-*"+,'2&D(?N"%("!\\Q"D&"I'3AD*-?"+'"!TO\"%("!\L!O!
306D=0=D96"
4*'A-*" ?*D%(DB-" ')" ?%*+@"/D+-*G" ?%&A'&D1" ')" BD*>DB-G" &-/DB-" D(?" ,23D(" D(?" %(?2&+*%D1"
/D&+-&"D*-"I*2I%D1" )'*"D"I1-D("3%I*'-(E%*'(3-(+G"/,%I," %&"D"A*-*-b2%&%+-" )'*"A*-E-(+%E-"
,-D1+,"ID*-O"W-",DE-"&%3A1@"+'"E%&%+"+,-"&123&"')"023>D%"'*"J-1,%"+'"/%+(-&&"+,-"2*B-(I@"
')"&2I,"3-D&2*-&O"5E-("%("*2*D1"8(?%DG"3'&+"/'3-(",DE-"+'"/D%+"2(+%1"%+"%&"?D*C"+,-@"ID("
*-1%-E-"+,-3&-1E-&"%("+,-"'A-(O"U,-")%1+,"%("+,-&-"A1DI-&"*-(?-*&"+,-3"*%)-"/%+,"?%&-D&-&O"
0@" I'cD2+,'*"SO<O"XDaD" (D**D+-&" ,%&" -fA-*%-(I-"/%+," D"J-AD*+3-(+" ')"<I%-(I-" D(?"
U-I,('1'B@" A*'a-I+" D+" 023>D%" )'*" &-++%(B" 2A" D" >%B" A1D(+" )'*" BD*>DB-" A*'I-&&%(B" D(?"
%(&+D11D+%'("')"&%3A1-"1D+*%(-&"%("&123&O"U,-"1D+*%(-&",D?"D>'2+"+-("3'?21-&">2%1+"D*'2(?"D"
I-(+*D1" A%11D*O" U'" ?-I%?-" '(" +,-%*" 1'ID+%'(G" XDaD" E%&%+-?" 3D(@" &123&" %(" 023>D%O" #("
%(I*-?%>1-"D3'2(+"')"A2+*%?"/D+-*"I'11-I+-?"D(?"&+''?")'*"?D@&"D*'2(?"+,-",2+&"-E-("/,-("
%+" /D&" ('+" *D%(%(BO" #??-?" +'" +,%&" ?%*+@"/D+-*" D(?" -fI*-+D"/-*-" ED*%'2&" '+,-*" )'*3&" ')"
BD*>DB-"+,*'/("'2+">@"+,-"&123"?/-11-*&O"R'/"I'21?"+,-@"D(?"+,-%*"I,%1?*-(">-",-D1+,@"
D(?" )*--" )*'3" ?%&-D&-&e" #>'E-" D11G" /,D+" I'21?" >-" -fA-I+-?" ')" +,-%*" D++%+2?-" +'/D*?&"
C--A%(B"B-(-*D1"A2>1%I"I'(E-(%-(I-&"1%C-"1D+*%(-&"I1-D(e"0D(@"A'E-*+@"*-3'ED1"&I,-3-&"
D*-"('+"DAA1%ID>1-"+'"+,-"023>D%"&123&">-ID2&-"+,-"-D*(%(B&"')"+,-"A-'A1-"/,'"1%E-"+,-*-"
D*-" D>'E-" +,-" A'E-*+@" 1%(-s" U,-@"3D@" -D*(" 3'*-" +,D(" +,-@" /'21?" >DIC" %(" +,-" E%11DB-O
!\V"
U,-@",DE-">-++-*"I1'+,-&"D(?"3'*-")''?O"92+"+,-"DAAD11%(B"&D(%+D*@"I'(?%+%'(&"(-BD+-"D11"
'+,-*"D&A-I+&"')"A*'B*-&&O"#" &%3%1D*" &%+2D+%'("-f%&+&" %("3'&+">%B"I%+%-&O"U,-" *-&A'(&-"')"
-1%+-"8(?%D(&"%&"+'"*-3'E-"+,-"&123&")*'3"E%-/"D(?"&-(?"+,-"'II2AD(+&"3D(@"C%1'3-+-*&"
D/D@O":*" &%3A1@" +'" %B('*-" +,-3">@" >2%1?%(B" ,%B,"/D11&" +'">1'IC" +,-&-"?%*+@"D*-D&" )*'3"
&%B,+s"
J*%(C%(B"/D+-*"
#" *-I-(+" -E-(+" ?-3'(&+*D+-?" ,'/" +-I,('1'B@" I'21?" D&&%&+" %(" 3--+%(B" ?*%(C%(B" /D+-*"
(--?&O":(-"')"+,-"JXJ:"1D>'*D+'*%-&"D+"['?,A2*",D&"?-E-1'A-?"D("-1-I+*'",@?*'1@&%&"'*"
?-&D1%(D+%'(" A*'I-&&" +,D+" %&" 2&-?" +'" I'(E-*+" &D1+@" >*DIC%&," /D+-*O" #" &%3%1D*" &%+2D+%'("
A*-ED%1&" %(" &-E-*D1" ?%&+*%I+&" ')" UD3%1" .D?%*" D(?" 62aD*D+O" U,-" J-AD*+3-(+" ')" *2*D1"
J-E-1'A3-(+" MJXJN" D(?" +,-" B'E-*(3-(+" ')" *DaD&" +,D(" A*'3'+-?" +,-" +-I,('1'B@"
?-E-1'A3-(+" >@" JXJ:" 1D>&O" U/'" ?-&D1%(D+%'(" A1D(+&" ')" =KKKK" D(?" TKKKK" 1%+-*&"
*-&A-I+%E-1@",DE-">--("%(&+D11-?"D(?"A*'?2I+%'(",D&"I'33-(I-?O"0'*-"+,D("!KK"E%11DB-&"
('/" ,DE-"A'+D>1-"/D+-*O" 8" )'2(?" +,-" ?-&D1%(D+%'(" A1D(+&O"U,%&" -fD3A1-" %&" *-A1%ID>1-" %("
3D(@"AD*+&"')"+,-"I'2(+*@O!
b;0.=@!J9B!0.."
9-++-*"&D(%+D*@"I'(?%+%'(&"D(?"D("%3A*'E-?"3%I*'-(E%*'(3-(+"%("+,-",D>%+D+"'*"/'*CA1DI-"
D*-"+,-"3'&+"%3A'*+D(+"*-b2%*-3-(+&")'*",-D1+,O"8("+,-"I'3%(B"@-D*&"/-"D1&'"(--?"+'"AD@"
D++-(+%'("+'"+,-"/'*C%(B"I'(?%+%'(&"/%+,%(")DI+'*%-&"D&"/-11"D&"'A-("/'*CA1DI-&G">-"+,-@"
I'D13%(-&G"b2D**%-&"'*"*'D?&O"X-3'E%(B",-D1+,",DdD*?&"+'"/,%I,"'2*"A-'A1-"D*-"-fA'&-?"
%&"D"I*2I%D1"(D+%'(D1"3%&&%'(O"8+"%&"('+"-('2B,"+'"I'(&%?-*"hB1'>D1"b2D1%+@"1-E-1&Y"')"1%E%(B"
'*"/'*C%(B"A1DI-&"'(1@")'*"+,-"/-11c"+'c?'O":*?%(D*@"8(?%D(&"+''"?-&-*E-"D(?",DE-"D"*%B,+"
+'"1%E-"D(?"+'"/'*C"%("D"B''?"-(E%*'(3-(+O"
#)+-*" D" B''?" D(?" I1-D(" -(E%*'(3-(+" I'3-&" +,-" (--?" )'*" >-++-*" (2+*%+%'(G" /%+,"
(-I-&&D*@" )''?" &2AA1-3-(+&O" 4*-E-(+%E-" ,-D1+,ID*-" &@&+-3&c%('I21D+%'(G" EDII%(D+%'(G"
%332(%dD+%'(G" A-*%'?%I" ,-D1+," I,-IC&" D(?"3-?%ID1" +*-D+3-(+" D*-" +,-c" (-f+" &+-A&O"U,-&-"
&,'21?">-"3D?-"DED%1D>1-"D(?"D))'*?D>1-"+'"D11"8(?%D(&O"53A1'@-*&G"I-(+*D1G"&+D+-"D(?"1'ID1"
B'E-*(3-(+&"&,'21?">-D*"+,-"*-&A'(&%>%1%+@"+'"D&&2*-"A-'A1-"')"+,%&",-D1+,"&-I2*%+@"I'E-*O"
92+",'/" %&" +,%&" +'">-" %3A1-3-(+-?e" " " " " " " 8+" %&" +*2-"+,D+"A2>1%I",-D1+," &-*E%I-&"D*-"2(?-*"
&-E-*-"&+*D%(O"U,-*-"%&"D1&'"D"+-(?-(I@"+'/D*?&"+,-"I'33-*I%D1%dD+%'("')"3-?%ID1"&-*E%I-&G"
/,%I,">@" %+&-1)" %&"('+">D?" %)" +,-*-"D*-"I'2(+-*ED%1%(B" %(&2*D(I-"'*"&'I%D1" &-I2*%+@"I'E-*&
!\\"
+,D+"3DC-"+,-3"D))'*?D>1-")'*"3'&+O".-E-*+,-1-&&G"+,-*-"D*-"D1&'"D"(23>-*"')">*%B,+"&A'+&O"
0D(@" 3-?%ID1" A*')-&&%'(D1&G" /,'" *2(" -fA-(&%E-" 3-?%ID1" ID*-" &@&+-3&" +'" ID+-*" +'" +,-"
(--?&"D(?")D(I%-&"')"+,-"#))12-(+G"D1&'"&2>&%?%d-"+,-"/-DC-*"&-I+%'(&">@"A*'E%?%(B"+,-3"
/%+,"B''?"&-*E%I-&O"U,-"D2+,'*&",DE-"&--("&2I,"A,%1D(+,*'A@">-%(B"A*DI+%I-?"D+"+,-"FO$O"
4D*&-?" 5@-" %(&+%+2+-" /,%1-" +,'&-" /,'" *-B%&+-*" +,-3&-1E-&" 2(?-*" +,-" ID+-B'*@" h('+"
D))'*?D>1-Y"*-I-%E-")*--"+*-D+3-(+O"<'3-"')"+,-&-"A*%ED+-"%(%+%D+%E-&"D*-"E-*@"-))%I%-(+"D(?"
,23D(-O"U,-*-" D*-" D1&'"3D(@".6:&" D(?" D" (23>-*" ')" 1'ID1" %(%+%D+%E-&" +,D+"/'*C"/-11O"
5E-("+,-"?'I+'*&"D(?"+,-"&+D))"%("3D(@"B'E-*(3-(+c*2("3-?%ID1"I-(+-*&",DE-"D"(23>-*"')"
B''?"%?-D&"+'"3DC-"+,-"-f%&+%(B"&@&+-3&")2(I+%'(D1"D(?"&-*E%I-"'*%-(+-?O"U,-*-"D*-"D1&'"D"
(23>-*"')"&@&+-3&"2&%(B"D1+-*(D+%E-"D(?",'1%&+%I"3-?%I%(-G"/,%I,"D*-"A*'3'+-?">@"/-11c"
+*D%(-?"&A-I%D1%&+&g"&'3-"')"+,-&-"ID(">*%(B"?'/("+,-"I'&+&"')"*2((%(B"+,-"B-(-*D1",-D1+,"
ID*-"&@&+-3O"6%E-("D11"+,%&G"/-"?'"('+">-1%-E-"+,D+"8(?%D"ID(('+"+DC-"2A"+,-"I,D11-(B-"')"
h,-D1+," )'*" D11YO"W-" ID("3DC-" +,-" &@&+-3&"/'*Cg"/-" ID(" I,D(B-" +,-3" +'" ,-1A" A-'A1-G"
?-&A%+-" +,-" B*'/+," ')" +,-" A'A21D+%'(" D(?" 321+%A1-" I,D11-(B-&" %(" +,-" +D&C" ')" *-3'E%(B"
A'E-*+@"D(?"DII-1-*D+%(B"-I'('3%I"B*'/+,O"
8+"%&"/%+,")%*3"D(?"I'(&%?-*-?">-1%-)"+,D+"/-"?-&I*%>-"&'3-")DI+&"D>'2+"+,-"A*'a-I+-?"
&I-(D*%'"')"?%&-D&-&"D(?"?%&D>%1%+%-&"D(?"?-&I*%>-&",'/"+'"I'3>D+"+,-"A*'>1-3&O"
U'/D*?&"+,-"E%&%'(^"+,-"+/'"8(?%-&"
<''("/-"/%11" ,DE-" '(-" >%11%'(" 8(?%D(&O"#" )-/" +-(&" ')"3%11%'(&" ')" +,-3" ,DE-" 1%)-&+@1-&"
-b2%ED1-(+"+'"'*"-E-("3'*-"12f2*%'2&"+,D("+,-"2AA-*"&+*D+D"')"+,-"?-E-1'A-?"/'*1?O"U,-@"
-(a'@"+,-")DI%1%+%-&"'))-*-?">@"3'?-*("+-I,('1'B%-&G"D(?"&%321+D(-'2&1@"-(a'@"+,-">-(-)%+&"
')" I,-DA" 1D>'*O"#('+,-*" =KK" +'" PKK"3%11%'(" 8(?%D(&G" +,-" &'cID11-?"3%??1-" I1D&&G" ,DE-" D"
ED*%-?" 1%)-&+@1-G" ')+-(" D&A%*%(B" +'" I'A@" +,-" ?-E-1'A-?" /'*1?" >2+" ,DE%(B" '(1@" 1%3%+-?"
*-&'2*I-&O"U,-@")DI-"+,-"&+*-&&"')"3'?-*("1%)-">2+"')+-("?'"('+",DE-"+,-")DI%1%+%-&")'*"B''?"
1%E%(BO" U,-" *-&+" ')" +,-" A'A21D+%'(" %&" -(BDB-?" %(" a'>&G" /,%I," 1-DE-" %+" I'()*'(+-?" /%+,"
I'(&+D(+" %(&-I2*%+@" D>'2+" 3DC%(B" -(?&" 3--+O" U,%&" 3Da'*%+@" ?'-&" ('+" ,DE-" -I'('3%I"
&2*A12&"D(?",D&"a2&+"-('2B,")'*"I'E-*%(B"%+&">D*-"(-I-&&%+%-&O"8(E-&+3-(+"%(",-D1+,"ID*-"%&"
D("%3A'&&%>1-"12f2*@O"
#" U8_#H" &2*E-@" ')" +,-" )2+2*-" &I-(D*%'" ')" 8(?%D(" -A%?-3%'1'B@" D&" A-*I-%E-?" >@"
3-?%ID1"A*DI+%+%'(-*&"*-)1-I+&"+,%&"*-D1%+@O"8(?%D"/'*1?",DE-"+,-"?%&-D&-&"')"+,-"?-E-1'A%(B
=KK"
/'*1?c3D(@" I'332(%ID>1-" D(?" %()-I+%'2&" ?%&-D&-&cD&" /-11" D&" +,-" ?%&-D&-&" ')" +,-"
?-E-1'A-?"/'*1?s"
#3'(B"+,-"%()-I+%'2&G"3D+-*(D1G"A*-(D+D1"D(?"(2+*%+%'(D1"?%&-D&-&G"+2>-*I21'&%&"MU9N"
%&"A-*I-%E-?"D&"+,-"'(-"*-b2%*%(B"+'A"A*%'*%+@"%("+,-"&,'*+"+-*3"+%11"+,-"+2*("')"+,-"I-(+2*@g"
)'11'/-?">@"#8J<G"E-I+'*c>'*(-"?%&-D&-&G"D(?"?%D**,-DO"U,-("I'3-"(2+*%+%'(D1"?%&-D&-&G"
,-AD+%+%&G" ?%&-D&-&" *-1D+-?" +'" A*-B(D(I@" D(?" I,%1?>%*+,G" ?%&-D&-&" A*-E-(+D>1-" >@"
EDII%(D+%'(G" DI2+-" *-&A%*D+'*@" %()-I+%'(&G" A*-(D+D1" ?%&'*?-*&G" 1-A*'&@" D(?" &-f2D11@"
+*D(&3%++-?"?%&-D&-&O"
5fA-*+&"D1&'"%(?%ID+-"+,D+"+,-"DAA1%ID+%'("')"(-/"?-E-1'A3-(+&"%("+-I,('1'B%-&"I'21?"
&2>&+D(+%D11@"*-?2I-"+,-"%(I%?-(I-"')"+,-&-"?%&-D&-&">@"+,-"@-D*"=K=KO"5E-(">@"=K!KG"/-"
ID(" &2>&+D(+%D11@" *-?2I-" +,-" h?%&-D&-&" ')" +,-" ?-E-1'A%(B" I'2(+*@YG" -fI-A+" )'*" #8J<G"
A*'E%?-?"/-"DI+"%33-?%D+-1@O"
.'(cI'332(%ID>1-" ?%&-D&-&" &2I," D&" D1I,-3%I" ,-D*+" ?%&-D&-&G" &+*'C-&" D(?" )-3D1-"
ID(I-*&"D*-"A-*I-%E-?" +'">-"')"3Da'*"I'(I-*(" %(" +,-"&,'*+"*2(G"/,%1-" +,-&-"D*-" 1%C-1@" +'"
?-I1%(-" I'(&%?-*D>1@" >@" =K=KO" U,-" ?-I1%(-" %&" -fA-I+-?" +'" >-" 32I," )D&+-*" )'*" )-3D1-"
ID(I-*&G"/,%I," %&" AD*+%I21D*1@" B''?"(-/&" )'*" D" I'2(+*@G"/,%I," &+%11" ,D&" D(" D?E-*&-" &-f"
*D+%'" )'*" )-3D1-&O" R'/-E-*G" -fA-*+&" D1&'" -(E%&DB-" %(" &2%I%?-&" D(?" ,'3%I%?-&G" D&" D1&'"
A&@I,%D+*%I"?%&'*?-*&"D(?"DII%?-(+&G"3DC%(B"+,-&-"D*-D&"')",%B,"A*%'*%+@O"
5E-(" D&" 8(?%D" /'*1?" &+*2BB1-" +'" -*D?%ID+-" +,-" ?%&-D&-&" >'*(" ')" A''*" 1%E%(B"
I'(?%+%'(&" D(?" A'E-*+@G" &'3-" ')" +,-" &+*-&&" +@A%ID1" ')" 3'?-*(" ?-E-1'A-?" I'2(+*%-&" %&"
-fA-I+-?"+'"%(I*-D&-O"8&"+,%&"&'3-+,%(BG"/,%I,"ID(">-"A*-E-(+-?">@"*-'*%-(+%(B"'2*&-1E-&"
D&"/-"3DC-"A*'B*-&&e"HD("&'3-"-1-3-(+&"')"'2*"I21+2*D1",-*%+DB-"D(?"&%3A1-" 1%E%(B">-"
*-+D%(-?"+'"A*-E-(+"'*"DE'%?"&'3-"')"+,%&"&+*-&&e":*G"D&"&'3-"I@(%I&"/'21?"&D@G" %&" %+"+,D+"
'2*" &%3A1-" 1%E%(B" D(?" -3A,D&%&" '(" ED12-&" %&" '(1@" D" 3D(%)-&+D+%'(" ')" '2*" A'E-*+@"
XD+,-*"+,D("D("D))%*3D+%'("')"D")2(?D3-(+D1"I'(E%I+%'("%("D2&+-*%+@e!
"11;,D0=;!>=;A>!J9B!=@;!6;:!FD>D96"
:(-"+,%(B"%&"?-)%(%+-1@"I1-D*c,D1+%(B"+,-"&A*-D?"')"U9G"#8J<G"?%D**,-DG"-+IO"32&+">-I'3-"D"
A*%'*%+@O":2*"E%&%'("&,'21?" >-" +'"-*D?%ID+-G">-)'*-"'*">@"=K=KG" +,-" %()-I+%'2&G"3D+-*(D1G"
A*-(D+D1"D(?"(2+*%+%'(D1 ?%&-D&-&O"U,-"DI+%'("A1D("ID(">-"&%3A1-"D(?"-))-I+%E-O"F-+"2&"1''C"
D+"&'3-"-fD3A1-&O
=K!"
5fA-*+&" 'A%(-" +,D+" +,-" %()'*3D+%'(" '(" U9" 3'*+D1%+@" %&" b2%+-" &C-+I,@g" ?-&A%+-" +,-"
I'(&%?-*D>1-" (23>-*" ')" -A%?-3%'1'B%ID1" &+2?%-&" '(" +,-" ?%&-D&-&O" U,-*-" %&" D(" %33-(&-"
(--?"+'"?-E-1'A"D"*-1%D>1-"U9"?D+D>D&-O"
#+"A*-&-(+G"A'1@ED1-(+"9H6"EDII%(-G"/,%I," %&"E21(-*D>1-"+'"%(+-*)-*-(I-"ID2&-?">@"
('(c+2>-*I21'&%&G" 32&+" >-I'3-" D" A*%'*%+@O" 0'('I1'(D1" 9H6" EDII%(D+%'(" D(?" +,-"
%?-(+%)%ID+%'("')"&A-I%)%I"I1'(-&" )'*"?-E-1'A3-(+"')"3'*-"-))%I%-(+"EDII%(-&"D*-"&'3-"')"
+,-"A*-E-(+%E-"+-I,('1'B%-&"+,D+",DE-">--("%?-(+%)%-?O"62%?-1%(-&")'*"%?-(+%)@%(B",%B,c*%&C"
%(?%E%?2D1&" D(?" A*'+'I'1&" )'*" I,-3'A*'A,@1Df%&" D1&'" (--?" +'" >-" ?-E-1'A-?O" R-D1+,"
-?2ID+%'(" A*'B*D33-*&" (--?" +'" >-" 2(?-*+DC-(" )'*" &A-I%)%I" +D*B-+" B*'2A&O"0D(@".6:&"
D(?"@'2+,"'*BD(%dD+%'("ID(">-")*2%+)211@"2+%1%d-?"+'")21)%11"3Da'*"1%)-c&DE%(B"3%&&%'(&O"U,-"
+-1-E%&%'("D(?")%13"3-?%D"I'21?"D1&'">-"+DAA-?"+'"&A*-D?"+,-"3-&&DB-G"D(?"+,-*-"I'21?">-"
I'*A'*D+-" &A'(&'*&,%A" )'*" &2I," A*'B*D33-*&O" 8(" +,-" D/D*-(-&&" ID3AD%B(G" 1-+" 2&" D1&'"
%(E'C-" &'3-" ')" +,-" )-D*&" *D%&-?" >@" +,-" *-I-(+" h&2+*D" A1DB2-YO" F-+" 2&" 3DC-" D11" 8(?%D(&"
D/D*-" +,D+" U9" %&" ('+" D" ?%&-D&-" I'()%(-?" +'" +,-" 1'/-*" I1D&&-&O" U9" %&" ?%DB('&-?" >@"
&I*--(%(B" )'*"&A-I%)%I" &@3A+'3&"')" +,-"?%&-D&-"D(?">@"&A2+23"3%I*'&I'A@" )'*"DI%?c)D&+"
>DI%112&O" H21+2*-" )DI%1%+%-&" )DI%1%+D+%(B" ?-+-I+%'(" ')" +,-" ?%&-D&-" D*-" DED%1D>1-" '(1@" D+"
&A-I%D1%d-?" %(&+%+2+%'(&O" U,-" ?%DB('&+%I" +''1&" ')" -(?'&I'A%-&" D(?" >*'(I,'B*DA,@" D*-"
DED%1D>1-" '(1@" %(" +-*+%D*@" ,'&A%+D1&O" X%)D3@I%(G" +,-" 3D%(&+D@" %(" &,'*+cI'2*&-"
I,-3'+,-*DA@G" %&" A*'?2I-?" %(?%B-('2&1@" >2+" %&" b2%+-" -fA-(&%E-O" <'3-" ')" +,-" )2+2*-"
+-I,('1'B%ID1" *-b2%*-3-(+&" )'*" U9" ?%DB('&%&" D(?" +*-D+3-(+" D*-" XjJ" %(E-&+3-(+" )'*"
?-E-1'A%(B" 51%&D" ;%+&" D(?" I'&+c-))-I+%E-" A*'I-&&" +-I,('1'B@" )'*" A*'?2I%(B" X%)D3@I%(G"
%332('D&&D@" ')" 3@I'>DI+-*%23" D(+%B-(&G" /D+-*c&'12>1-" ?@-&" )'*" >*'(I,'&I'A-" D(?"
>*'(I,'B*DA,@O"
<%3%1D*1@" #8J<G" D('+,-*" 3Da'*" C%11-*G" /'21?" (--?" +'" >-" +DIC1-?" )*'(+D11@O"
_'*+2(D+-1@G"+,-*-"%&"D"32I,"B*-D+-*"D/D*-(-&&"ID3AD%B(")'*"#8J<"+,D(")'*"U9O"U'"?D+-G"
D"EDII%(-"+'"A*-E-(+"R8$"%()-I+%'(",D&"('+">--(")'2(?G"+,'2B,"I1%(%ID1"+*%D1&",DE-"&+D*+-?O"
#ZU" %&" +,-" '(1@" ?*2B" I2**-(+1@" %(" 2&-" +'" %(,D>%+" +,-" *-A1%ID+%'(" ')"R8$O" 8+" %(,%>%+&" +,-"
-(d@3-"*-E-*&-"+*D(&I*%A+&"D(?"+,-*->@"+,-"E%*D1"B-('3-O"R'/-E-*G"E%*D1"32+D+%'(&"1-D?"
+'"?*2B" *-&%&+D(I-"/%+,%(" +/-1E-" +'"-%B,+--("3'(+,&O"U,%&"'II2*&"/,-("#ZU" %&"2&-?" %("
I'3>%(D+%'(" /%+," '+,-*" ?*2B&O" U,-" 'A+%'(" DED%1D>1-" )'*" 8(?%D" +'" I'(+D%(" +,-" #8J<"
-A%?-3%I" 1%-&" %(" A*-E-(+%E-"3-D&2*-&" &2I," D&" +,-" %?-(+%)%ID+%'(" ')" ,%B,c*%&C" %(?%E%?2D1&
=K="
+,*'2B," &I*--(%(BG" &I*--(%(B" >1''?" 2&-?" %(" >1''?" +*D(&)2&%'(G" I'332(%+@" D/D*-(-&&"
D>'2+" +,-"?%&-D&-G" D(?"&'"'(O"W-"D1&'"(--?" +'" )'I2&"'(" *-&-D*I," +'"A*'?2I-" %(?%B-('2&"
?*2B&">D&-?"'("+*D?%+%'(D1"3-?%I%(-O"6D&+*'c%(+-&+%(D1"?%&'*?-*&"D*-"*-&A'(&%>1-")'*"3'*-"
+,D(":(-c+-(+,"')" +,-"?%&-D&-" >2*?-(" %(" 8(?%DO"02I,"')" %+" ID(" >-"UDIC1-?">@"A*'E%?%(B"
&D(%+D*@"1%E%(B"I'(?%+%'(&"D(?"B''?G"I1-D("J*%(C%(B"/D+-*"+'"D11"8(?%D(&O"8("D??%+%'(G"/-"
(--?"+'"I'(I-(+*D+-"'(")%(?%(B"&%3A1-G"&D)-"D(?"%(-fA-(&%E-"3-+,'?&"')"?%DB('&%&O"
U,-"&-D*I,")'*"&2I,"%(-fA-(&%E-"?%DB('&+%I"+''1&"D(?"EDII%(-&"%&"I'3>%(-?"/%+,"'+,-*"
I,D11-(B-&O":(-"%&"&+*D%B,+)'*/D*?^""+,-"A*'+-I+%'("')"%(+-11-I+2D1"A*'A-*+@"*%B,+&"M84XNO"8)"
&'3->'?@"'*" &'3-" I'3AD(@",D&" D1*-D?@" %(E-(+-?"D" (-/"?*2B"D(?"AD+-(+-?" %+" %(" 8(?%DG"
A-*3%&&%'(",D&"+'">-"'>+D%(-?")*'3"+,-"AD*+@"I'(I-*(-?">-)'*-"%+"ID(">-"2&-?O"U,-"AD*+@"
3D@"I,D*B-",-DE%1@" )'*"84XG"2A&-++%(B"'2*"I'&+"ID1I21D+%'(&O":*"D"(-/"?*2B"('+"I'E-*-?"
>@"&2I,"AD+-(+&"/'21?",DE-" +'">-"?%&I'E-*-?g" +,%&"3D@"('+"D1/D@&" >-"-D&@G"D&" *-&-D*I,"
D(?"%+&"o2D1%)%ID+%'(&"+,*'2B,"ED*%'2&"*-B21D+'*@"+-&+&"+DC-&"I'(&%?-*D>1-"+%3-O"
U,-*-"I'21?"D1&'">-"2()'*-&--("I,D11-(B-&O"W,-("D"&3D11-*"I'3AD(@"3D(DB-&"+'"%(E-(+"
D(?"+'"A*'?2I-"D("%3A'*+D(+"$DII%(-G"D">%BB-*"I'3AD(@"&-11%(B"EDII%(-&"3D@"+*@"+'"2&-"
7(?-*&+D(?"3-D(&"+'"A*-E-(+"%+&"*%ED1"I'3AD(@")*'3"-&+D>1%&,%(B"%+&-1)"'("+,-"3D*C-+O"<'"
B-(2%(-" I'3AD(%-&" +*@%(B" +'" A*'E%?-" 8(-fA-(&%E-" EDII%(-&" D(?" 3-?%I%(-&" 3D@" ,DE-"
A*'>1-3&"%("'E-*I'3%(B"&2I,"%11-BD1"%33'*D1"hI'3A-+%+%E-Y"A*DI+%I-&O"
U,%&">*%(B&"2&"+'"D('+,-*"%3A'*+D(+"D*-DO"0'&+"EDII%(-&"/'21?"*-b2%*-"B''?"?-1%E-*@"
D(?" &+'*DB-" 3-I,D(%&3&O" U,-@" 1'&-" +,-%*" -))-I+%E-(-&&" '*" A'+-(I@" /,-(" ('+" &+'*-?" D+"
AD*+%I21D*G"')+-("1'/G"+-3A-*D+2*-&O"<'"D&"/%+,"3%1C"'*")*2%+G"/-"(--?"B''?"*-)*%B-*D+'*"'*"
I,%11%(B"&@&+-3&"+'"-(D>1-"+,-"EDII%(-&"+'"*-DI,"$%11DB-&O"#1&'G",'/"?'"/-"-(&2*-"+,D+"+,-"
EDII%(-&",DE-"%(?--?">--("<+'*-?"D+"A*'A-*"+-3A-*D+2*-&"+,*'2B,"ED*%'2&"A,D&-&"')"
RD(?1%(BG" )*'3" +,-" )DI+'*@" %(" /,%I," +,-@" D*-" 3D(2)DI+2*-?" 2(+'" +,-" A'%(+" ')" +,-"
I'(&23-*e" "R-*-"+''"+,-*-"D*-"U-I,('1'B%-&"+'",-1A"2&"C--A"I'(+*'1O"U,-*-"D*-"+,-*3D1"
&-(&%+%E-"4D%(+&G"/,%I,"ID("I,D(B-"I'1'*g"D"&+*%A"')"&2I,"AD%(+"ID(">-"A2+"'("+,-"3-?%I%(-"
'*" EDII%(-" I'E-*O" 8)" +,-" %(&+*2I+%'(&" X-BD*?%(B" +,-" -fDI+" +-3A-*D+2*-" D(?" A-*3%&&%>1-"
+%3-"/%+,'2+"X-)*%B-*D+%'("D*-"E%'1D+-?G"+,-"I'1'*"/%11">-"I,D(B-"%**-E-*&%>1@O"
_'*+2(D+-1@G" %("8(?%D"+,-*-"D*-"B*'2A&"/'*C%(B"'("EDII%(-&"D(?" %**-E-*&%>1-"+,-*3D1"
&-(&%+%E-" AD%(+&O"92+"/,-(" %+" I'3-&" +'"<+D>1-" D(?" *-1%D>1-" -1-I+*%I" A'/-*" &2AA1@" +'" +,-
=KP"
*2*D1"D*-D&"D(?"U'/(&G"-(D>1%(B"+,-"'A-*D+%'("')"B''?"I,%11%(B"&@&+-3&"%("+,-"X2*D1"D*-D&G"
'(-"%&"D&&D%1-?">@"?'2>+&O"
#"*-1%D>1-"*-)*%B-*D+%'("&@&+-3"A*-&23-&"D"&+D>1-"&2AA1@"')"-1-I+*%I"A'/-*O"51-I+*%I"
A'/-*"%&"D"E%+D1"I'3A'(-(+")'*"'A-*D+%(B"3'&+"3DI,%(-&O"U,-"-(+%*-"-1-I+*'(%I&"%(?2&+*@"
?-A-(?&" '(" %+g" +,*'2B," 3'?-*(c?D@&" &@&+-3" I'(&23-" 1-&&" D(?" 1-&&" -1-I+*%I" A'/-*" )'*"
B*-D+-*" A-*)'*3D(I-O" 8+" %&" +%3-" /-" D&" D" (D+%'(" 1-D*(" +'" DAA*-I%D+-" +,-" %3A'*+D(I-" ')"
-1-I+*%I"A'/-*")'*"%(?2&+*@O"U,-"A'/-*"I*%&%&"%("+,-"A'/-*"&-I+'*"ID(('+">-"D11'/-?"+'"
H'(+%(2-O" 8(" '2*"3D*I," +'/D*?&" >-I'3%(B" D" ?-E-1'A-?" I'2(+*@G"/-"(--?" +'" ?*D&+%ID11@"
+*D(&)'*3"'2*"-1-I+*%I"A'/-*"'A-*D+%'(&O"8+" %&"('+"3-*-1@" )'*"DB*%I21+2*-"'*" %(?2&+*@G">2+"
)'*"+,-"E-*@",-D1+,"')"'2*"A-'A1-O"W,D+"+,%&"&2BB-&+&"%&"+,-"%3A'*+D(I-"')" %(+-*1%(C"DB-&O"
8(" +,-"AD&+" )-/"?-ID?-&G"3D(@"B'E-*(3-(+"?-AD*+3-(+&G" DB-(I%-&"D(?" %(?%E%?2D1&" ,DE-"
>-BD("+'")2(I+%'("D2+'('3'2&1@O"U,-"I'(I-A+"')"&-1)c*-1%D(I-"&,'21?">-")'*"+,-"I'2(+*@"D&"
D"/,'1-G" ('+" )'*" ?-AD*+3-(+&G" DB-(I%-&" '*" %(?%E%?2D1&" D1'(-s"92+" %(" 8(?%DG"3D(@"')" +,-"
DB-(I%-&"?'"('+"&--">-@'(?"+,-%*"D11'ID+-?"D*-D&O"<'3-'(-"I'(I-(+*D+-"'("+,-"A2*I,D&-"')"
D" EDII%(-g" D('+,-*" '(" ?-E-1'A3-(+g" D('+,-*" h?-D1&"/%+,Y" ?%&+*%>2+%'("/%+,'2+" +*@%(B" +'"
2(?-*&+D(?" +,-" &A-I%D1" I,D*DI+-*" ')" +,-" %+-3" +'" >-"?%&+*%>2+-?O"U,-*-" %&" -('2B," h" ADA-*"
/'*CY"+'"A*'+-I+"-E-*@>'?@O"h8",DE-"?'(-"3@"+D&CY"+,-"*-A*-&-(+D+%E-"')"D(@"?-AD*+3-(+"
3%B,+"&D@O":)"I'2*&-"+,-*-"D*-"D1&'"A*'>1-3&"%("&2I,"D"&@&+-3")'*"+,'&-"%(%+%D+%E-O":("+,-"
A*-+-f+"')"
H''*?%(D+%'(" 3D(@" %**-1-ED(+" b2-&+%'(&" D*-" *D%&-?" D(?" ')+-(" 3'(+,&" AD&&" >-)'*-" D"
?-I%&%'(" %&" +DC-(O" W-" ,DE-" ,-D*?" 3D(@" &%(I-*-" A-'A1-" +-11%(B" 2&" +,D+" +,-@" ,DE-" &-(+"
?-+D%1-?"A*'A'&D1&"/%+,"&A-I%)%I" 1%(CDB-&"&A-1+"'2+" +'"+,-"?-AD*+3-(+"I'(I-*(-?" %("J-1,%"
'*"+,-"&+D+-"IDA%+D1O":)+-("J-1,%",D&"&'3-+,%(B"+'"&D@"-E-("+,-"A*'A'&D1&"D*-"&-(+"+'"+,-"
&+D+-"IDA%+D1O"8+"3D@"+DC-"+,*--"+'"&%f"@-D*&")'*"+,-"A*'A'&D1&"+'">-"I1-D*-?g"')+-("+,-"
H1-D*D(I-"I'3-&"D)+-*"+,-"&2>a-I+"3D++-*",D&">-I'3-"AD*+%D11@"'*")211@"'>&'1-+-O"
8)"/-"/D(+"+'"DI,%-E-"D"?-E-1'A-?"8(?%DG"/-",DE-"+'"1-D*("+'"B-+"'2+"')" +,%&"A%+%D>1-"
&+D+-"')" %(DI+%'(O"8)" 1D/&G"*21-&"D(?"A*'I-?2*-&",DE-"+'">-"I,D(B-?G"+,%&"&,'21?">-"?'(-O"
U,-" *D+-"D+"/,%I," +-I,('1'B%-&"'))-*"(-/"&'12+%'(&"D(?" (-/"/%(?'/&"')"'AA'*+2(%+@" %&"
)'*+2(D+-1@"E-*@",%B," %("+,-"I2**-(+"A,D&-"')",23D("?-E-1'A3-(+O"W-"ID("3DC-"2A"+,-"
1'&+" +%3-"D(?"3%&&-?"'AA'*+2(%+%-&G"A*'E%?-?"/-" 1-D*(" +'"3'E-" )D&+O"<2I,"'AA'*+2(%+%-&
=KT"
D*-" ('+" /D%+%(B" D*'2(?" )'*" 2&O" :+,-*&" B*D>" +,-3O" W-" (--?" +'" +,%(C" ,'1%&+%ID11@" D(?"
%(('ED+%E-1@G"D(?"('+"%("'2*"I1'&-?"I'3AD*+3-(+&O"#(?"D>'E-"D11G"/-"(--?"+'"1-D*("+'"DI+"
_D&+"D(?"A*'+-I+"+,'&-"/,'"3DC-"B-(2%(-"3%&+DC-&O"_D%12*-"%&"D"AD*+"')"D(@"E-(+2*-s"U,-"
D2+,'*&" ID(" I%+-" )*'3" +,-%*" -fA-*%-(I-" ')" +,*--" 3%&&%'(c'*%-(+-?" '*BD(%dD+%'(&^" +,-"
?-AD*+3-(+"')"#+'3%I" -(-*B@G" +,-" 8(?%D(" &ADI-" *-&-D*I," '*BD(%dD+%'(" D(?"U,-"J-)-(&-"
*-&-D*I,"j"?-E-1'A3-(+"'*BD(%dD+%'(G"/,%I,",DE-"A*'a-I+c'*%-(+-?"3D(DB-3-(+")'*"+%3-c"
>'2(?"DI,%-E-3-(+&"%(",%B,"+-I,('1'B@G"D(?"D1&'"+,-%*"&'I%-+D1"DAA1%ID+%'(O"J-)-(&-"
FD&-*&" ID(" >-"2&-?" &2*B%ID11@" +'" +*-D+" B1D2I'3D" '*" ID+D*DI+O"#+'3%I" -(-*B@" %&" 2&-?" )'*"
%**D?%D+%(BG")'*"-fD3A1-G"B*'2(?(2+"&--?&")'*",%B,-*"A*'?2I+%E%+@g"D(?"&ADI-"*-&-D*I,",D&"
1-?"+'"D("DII2*D+-"A*-?%I+%'("')"+,-"'(&-+"')"+,-"3'(&''(O"U,-"2(%b2-"I,D*DI+-*%&+%I"')"D11"
+,-&-"+,*--"?-AD*+3-(+&"%&"+,D+"+,-%*"&I%-(+%&+&"D*-"('+"D)*D%?"')"+DC%(B"?-I%&%'(&"D(?"D>'E-"
D11"D*-"('+"D)*D%?"')")D%12*-&O"92+"+,-@",DE-"%(?--?"&2II--?-?G"+,D(C&"+'"E%&%'(D*%-&"
F%C-"J*"R'3%"9,D>,DG"4*')"$%C*D3"<D*D>,D%G"4*')"<D+%&,"J,D/D("D(?"J*".DB"H,D2?,*%"
_'*" -fD3A1-G" &D+-11%+-" *-3'+-" &-(&%(B" '))-*&" D" 3-?%23" +'" 0DA" '2+" D*-D&" /,-*-"
3'&b2%+'-&">*--?"'*"&2I,"D*-D&")*'3"/,%I,"'+,-*"?%&-D&-&"ID("&A*-D?O"U,-*-",DE-">--("D"
)-/" &2II-&&)21" -fA-*%3-(+&" 'E-*" 1%3%+-?" D*-D&O" W-" ,DE-" '2*" *-3'+-" &-(&%(B" &D+-11%+-"
/,'&-" ?D+D" %&" >-%(B" &'1?" I'33-*I%D11@" /'*1?/%?-O" W-" ,DE-" 3D(@" -fA-*+&" %(" *-3'+-"
&-(&%(B"DAA1%ID+%'(&s"0D(@"-(+*-A*-(-2*%D1"&I%-(+%&+&"D(?"+-I,('1'B%&+&",DE-"&+D*+-?"&3D11"
I'3AD(%-&" D(?" A*'E%?-" &-*E%I-&" -E-(" +'" )'*-%B(" I1%-(+&O" W,@" ?'(Y+" /-" ?-A1'@" +,-&-"
+D1-(+&"+'">-(-)%+"+,-"I'2(+*@"D&"D"/,'1-G"%("+,-">%B">D++1-"D,-D?"+'"I'3>D+"?%&-D&-&e"W-"
D*-" D/D*-" +,D+" &D+-11%+-" 3DAA%(B" D1'(-" ID(('+" &'1E-" D11" A*'>1-3&O" 8+" ID(" 3'(%+'*G" D(?"
A*-&-(+" D" b2%IC" A%I+2*-" D(?" ,-1A" 2&" +'" ?-E-1'A"3%I*'" A1D(&O" <%3%1D*1@G" +,-*-" D*-" '+,-*"
+''1&O" #1&'" +,-*-" 3D@" >-" &-E-*D1" &'2*I-" ')" 1'ID1" C('/1-?B-" DED%1D>1-" /%+," '2*" +*%>D1"
I'332(%+%-&"'*"E%11DB-"-1?-*&"D>'2+" +,-"I'(+*'1"')" E-I+'*&O"W,@"('+"?-A1'@" +,%&"D)+-*" D"
b2%IC" &+2?@e"JXJ:" ,D?" D(" %(+-*-&+%(B" -fA-*%-(I-" %(" +,-" ('*+,-D&+-*(" &+D+-":)"#&&D3G"
/,-*-" +,-" '*BD(%dD+%'(" ,D&" D" J-)-(&-" X-&-D*I," FD>'*D+'*@" -&A-I%D11@" ?-E'+-?" +'"
A*-E-(+%(B"3D1D*%D"D(?"%+&"+*-D+3-(+O"8+"%&"D"&3D11"1D>'*D+'*@ /%+,"1-&&"+,D(")%)+@"3-3>-*&O"
8+",D&">--("-&+D>1%&,-?"+'"C--A"'2*"D*3-?")'*I-&",-D1+,@O"U,%&"1D>'*D+'*@",D&"?'(-"&'3-+,%(B"2(%b2-"%(",-D1+,"ID*-O"8+",D&"I,D*DI+-*%d-?"+,-"E-I+'*"')"+,-"3'&b2%+'"A*-ED1-(+"%("+,D+"*-B%'(">D&-?"'("+,-%*"'/("3-?%ID1"C('/1-?B-"D(?"+,-"-fA-*%-(I-"')"+,-"1'ID1"A-'A1-O"U,-"1D>'*D+'*@G"%("+2*(G",D&"+*-D+-?"+,-"A-'A1-"%("+,-"E%11DB-&"D(?",-1A-?"+,-3"+'">-")*--"')"3D1D*%DO
=KQ!
I%EKL!C'(C!
L>=D10=;,!06,!)B95;7=;,!X9B=0.D=G!40=;>!SA;B!C'''''T!+G!3;hV!
\9B!X059B!?0->;>!9J!$;0=@!D6!"6,D0"
HD2&-&""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""@-D*"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
!\VQ! KVVV!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!KVLT"iiiiiiiiiiiii"""""""""""iiiiiiiiiiiiii""""""""""iiiiiiiiiiiiiii"0""""""""""""""""""""_""""""""""""0""""""""""""""""""""""_""""""""""0""""""""""""""""""""""""_"
#11"ID2&-&""""""""""!!QV""""""""""""!!]Q"""""""""""VL\"""""""""""""""""L\K""""""""VT]"""""""""""""""""""""LTQ"8()-I+%'2&"""""""""""""TLV""""""""""""""TL]" =!Q"""""""""""""""""=P\""""""""!Q=""""""""""""""""""""!LQ".-'A1D&3"""""""""""""""TP"""""""""""""""""Q!"""""""""""""VV""""""""""""""""""LT"""""""""!KV""""""""""""""""""""""\!"H%*I21D+'*@"""""""""""!TQ"""""""""""""""!=]""""""""""=QP" =KT"""""""""=\Q""""""""""""""""""""=P\"4*-B(D(I@"""""""""""""""i""""""""""""""""""=="""""""""""""i""""""""""""""""""""!="""""""""""i""""""""""""""""""""""""!K"4*-(D+D1"""""""""""""""""!]V"""""""""""""""!P="""""""""""]K"""""""""""""""""""TV""""""""""""TK" PK"8(a2*@"""""""""""""""""""""""VQ"""""""""""""""""]Q"""""""""""V="""""""""""""""""""=V""""""""""""VT""""""""""""""""""""""=\":+,-*&""""""""""""""""""""=P\"""""""""""""""=\P""""""""""=VK"""""""""""""""""=VQ""""""""""!]L" !L!"
<'2*I-^"W'*1?"9D(C"R-D1+,"<-I+"'*D1"4*%'*%+%-&"X-E%-/!
Q*+8#+'(:$#*;,!0#,(-,(,"
F-+"2&"('/"D??*-&&"('(c%()-I+%'2&"?%&-D&-&G"&'3-"')"/,%I,"D*-"I'(&%?-*-?"h?-E-1'A-?"
I'2(+*@Y"MA'&+c+*D(&%+%'(D1N"?%&-D&-&s"<%(I-"+,-&-"?%&-D&-&"D*-"&%B(%)%ID(+"%("?-E-1'A-?"
I'2(+*%-&G"+,-*-"%&"D1&'"D"ED&+"C('/1-?B-">D&-"2+%1%d-?"+'"+DIC1-"+,-3O"R-D*+"?%&-D&-&"D*-"
A-*I-%E-?"+'">-"+,-"'(-&G"/,%I,"/%11"*-I-%E-"3Da'*"D++-(+%'(")'*"3D(@"@-D*&"+'"I'3-O"
7*>D(%dD+%'(" D(?" D1+-*-?" 1%)-&+@1-&" D*-" %(?%ID+'*&" ')" &'I%'c5I'('3%I" ?-E-1'A3-(+"
D(?" 1-D?" +'" *%&C" )DI+'*&" )'*" ID*?%'ED&I21D*" ?%&-D&-&" MH$JNO"#+" A*-&-(+G" A*-c+*D(&%+%'(D1"
J%&-D&-&" 1%C-" *,-23D+%I" ,-D*+" ?%&-D&-&G" 3'&+1@" +,-" A*'>1-3" ')" +,-" A''*G" I'c-f%&+" D&" D"
3Da'*"ID*?%'ED&I21D*"?%&-D&-&"D1'(B"/%+,"A'&+c+*D(&%+%'(D1"?%&-D&-&"&2I,"D&"I'*'(D*@",-D*+"
?%&-D&-"D(?"R@A-*+-(&%'(O"8("8(?%D"(-D*1@"=OT"3%11%'("?-D+,&"D*-"ID2&-?">@"ID*?%'ED&I21D*"
?%&'*?-*&O" <3D11c&ID1-" I'332(%+@c>D&-?" &+2?%-&" %(?%ID+-" +,-" A*-ED1-(I-" ')" H$J" %("
D?21+&G" *D(B%(B" )*'3"=c]" A-*I-(+" %(" *2*D1" D(?" ]c!K" A-*" I-(+" %(" 2*>D(" D*-D&O"U,-" ,-D1+,"
<-I+'*" *-E%-/" ')" +,-" W'*1?" 9D(C" A*'a-I+&" +,D+" H$J" 3'*+D1%+@" XD+-&" /'21?" ?'2>1-"
>-+/--(" !\VQc=K!Q" M+D>1-" !KO!N" <+2?%-&" ')" 'E-*&-D&" 8(?%D(&" %(" 3D(@" I'2(+*%-&" *-E-D1"
-fI-&&"I'*'(D*@"3'*+D1%+@"%("A-*&'(&"')"8(?%D("'*%B%(O"U,-&-"&+2?%-&"I'(?2I+-?"%("&-E-*D1"
I'2(+*%-&"D(?"%(E'1E%(B"?%))-*-(+"B-(-*D+%'(&"')"3%B*D(+&")*'3"8(?%Dn<'2+,"#&%D"&2BB-&+"D
=K]"
&A-I%D1" &2&I-A+%>%1%+@" +'" H$J" D&" A-*&'(&" ')" 8(?%D(" '*%B%(" )DI-" +,-" I,D11-(B-&" ')"
-A%?-3%'1'B%ID1" +*D(&%+%'(O" W,-(" D" I'332(%+@Y&" &+D+2&" I,D(B-&" )*'3" >-%(B" A''*" +'"
D))12-(+G">'+,"B-(-+%IG"-(E%*'(3-(+D1"D(?"A-*,DA&"(2+*%+%'(D1")DI+'*&"DAA-D*"+'"A1D@"D"*'1-"
%(" +,-" &A-I%D1" E21(-*D>%1%+@" ')" A-'A1-" ')" D" AD*+%I21D*" I'332(%+@G" %(" +,%&" ID&-" ')" 8(?%D("
'*%B%(O" :+,-*" )DI+'*&" %(I12?-" +,-" &+*-&&-&" ?2-" +'" 1%E%(B" %(" D" ?%))-*-(+" I21+2*D1" &-++%(BO"
5fA-*+&">-1%-E-"+,D+"D("-A%?-3%'1'B%ID1"+*D(&%+%'("%&"+,-*-)'*-"1%C-1@"+'"*-&21+" %("D"3Da'*"
H$J"-A%?-3%I"%("8(?%DO"
8+" %&" I*%+%ID11@" %3A'*+D(+" +'" ?-E-1'A" *-1D+%E-1@" %(-fA-(&%E-" ?%DB('&+%I" D%?&" )'*"
?-+-I+%(B"I'*'(D*@ ,-D*+"?%&-D&-&""MHRJNO"U,-&-"%(I12?-"5H6"M-1-I+*'ID*?%'B*D3NG"&+*-&&"
5H6G"(2I1-D*"ID*?%'1'B@G"-I,'"ID*?%'1'B@G",D1+-*"3'(%+'*%(B"D(?"ID*?%DI"ID+,-+-*%dD+%'("
/%+,"I'*'(D*@"D(B%'B*DA,%-&O"U-I,('1'B%-&"1%C-"3DB(-+%I"*-&'(D(I-"D(B%'B*DA,%-&"')"+,-"
I'*'(D*@"D*+-*%-&"D*-"&+%11"2(?-*" %(E-&+%BD+%'(O"5H6"*-I'*?&"D(?"&%3A1-"&+*-&&"-b2%A3-(+"
D*-"3D(2)DI+2*-?" %(" 8(?%D"D(?"D*-"-D&%1@" DED%1D>1-O"R'/-E-*G" %)" +,-"?%DB('&+%I" )DI%1%+%-&"
,DE-"+'">-"-f+-(?-?"+'"+,-"A*%3D*@"ID*-"M5H6N"D(?"&-I'(?D*@"ID*-"M&+*-&&"5H6N"1-E-1&G"%("
X-&A'(&-"+'"+,-"I'*'(D*@"-A%?-3%IG"+,-%*"3D(2)DI+2*-"%("1D*B-*"(23>-*&"D(?"*-?2I-?"I'&+"
A-*" 2(%+"/'21?" >-" (-I-&&D*@O" "0-?%ID1" +,-*DA@" ')"HRJ"3D@" %(E'1E-" D(+%cD(B%(D"?*2B&"
M(%+*D+-&G"ID1I%23"I,D((-1"D(?">-+D">1'IC-*&NG"D(+%c+,*'3>'&%&"DB-(+&"MD&A%*%(G"
R-AD*%(G" -+ING" #H5c%(,%>%+'*&G" +,*'3>'1@+%I" DB-(+&" M&+*-A+'C%(D&-G" 2*'C%(D&-G" -+IN" D(?"
D(+%'f%?D(+&O"4*%3D*@",-D1+,"ID*-"I-(+-*&"D*-"('+"A*-&-(+1@"B-D*-?"+'"A*'E%?-"-3-*B-(I@"
HD*-O" J-E-1'A3-(+" ')" +*-D+3-(+" A*'+'I'1&" )'*" HRJ" D(?" +*D%(%(B" ')" DAA*'A*%D+-"
3D(A'/-*"D+"A*%3D*@"1-E-1&"(--?"+'">-"+DC-("2A"'("D"A*%'*%+@">D&%&O"F-+"2&"*-3-3>-*"+,D+"
HRJ"D(?"H$J"%&"('+"3-*-1@"+,-"A*'>1-3"')"+,-"E-*@"+'A"&+*D+DG"')"D")-/"+-(&"')"3%11%'(&O"
M.'"?'2>+"+,%&"&+*D+D"ID(('+"'(1@"D))'*?"A*%ED+-"+*-D+3-(+"%("8(?%D">2+"D1&'"D))'*?"A-*%'?%I"
I,-ICc2A&" D(?" +*-D+3-(+" %(" +,-" 7;" D(?" 7<#O" 8+" %&" &D?" +'" ('+-" +,D+" +,%&" &+*D+D" ,DE-"
I'()%?-(I-"'(1@"%(")'*-%B(")DI%1%+%-&G"?-&A%+-"+,-"A*-&-(I-"')"-fA-*+&"?'I+'*&"%("8(?%D"D(?"
D11"&2I,"%3A'*+-?"-b2%A3-(+"/%+,"/,%I,")'*-%B("*-+2*(-?"8(?%D("&A-I%D1%&+&"D*-"'A-*D+%(B"
/'*1?cI1D&&")DI%1%+%-&sN""H$J"D(?"HRJ"D*-"B'%(B"+'">-I'3-"D"I'33'("%11(-&&G")*'3"+,-"
1'/-*"+'"+,-"2AA-*"3%??1-"I1D&&"D(?"-E-("D3'(B"3D(@"*2*D1"A-'A1-O"U,-*-)'*-G"%+"%&"('+"D"
?%&-D&-"')"+,-"D))12-(+g"%+"%&"D"?%&-D&-G"/,%I,"3D@"D1&'"D++DIC"3D(@"8(?%D(&G"/,'",DE-"a2&+"
3D*B%(D11@" -&IDA-?" ?-D+," )*'3" &-*E-" %()-I+%'2&" ?%&-D&-&" '*" (2+*%+%'(D1" ?%&'*?-*&O" U,-"
;D1D3c*Da2"&+-(+G"2&-?"+'"A*-E-(+"D*+-*%-&")*'3"I1'&%(B"2AG"/D&"'(-"&2I,"D++-3A+"+'"+D*B-+
=KL"
+,-" +*-D+3-(+" ')" +,%&" B*'2AO"W-" (--?" 3D(@" 3'*-" 3-D&2*-&" )'*" ?%DB('&%&O" <%(I-" 3'&+"
A*%3D*@",-D1+,"I-(+-*&"M4,J&N"3D@"('+",DE-"DII-&&"+'"-fI-11-(+"&A-I%D1%&+&G"D?ED(I-&" %("
3'?-*(" I'332(%ID+%'(" D(?" %()'*3D+%'(" +-I,('1'B%-&" D1&'" /'21?" (--?" +'" >-" ?-A1'@-?"
%(('ED+%E-1@"+'"A*'E%?-"&2I,"+D1-cDII-&&"M+,D+" %&G" DII-&&"D+"D"?%&+D(I-NO"0'&+"*-D?%(B&"')"
+,-"?%DB('&+%I"-b2%A3-(+G"5H6"'*"'+,-*&"D*-"-1-I+*%ID1"&%B(D1&O"U,-&-"ID(">-"+*D(&3%++-?"
+'" +,-" &A-I%D1%&+&" %(" D" E-*@" -I'('3%ID1" )'*3" /%+," 3'?-*(" ?%B%+D1" +-I,('1'B%-&O" U,-"
'A%(%'("D(?"D?E%I-"')"+,-"&A-I%D1%&+&"ID(">-"*-+*D(&3%++-?"+'"+,-"4RHO"W-"2(?-*&+D(?"+,D+"
3D(@"')" +,'&-"/,'"'A-*D+-"I'&+1@" (2*&%(B" ,'3-&" %("I%+%-&"/'21?" >-"/%11%(B" +'"A*'E%?-"
&2I,"D?E%&'*@"&-*E%I-&"D+"D"('3%(D1"I'&+"D&"D"AD*+"')"+,-%*"I'(+*%>2+%'("+'"&'I%-+@O"F-+"2&"
+*@" 3D(@" &2I," 3-+,'?&" +'" *-DI," '2+" +'" A-'A1-O" 8(" D??%+%'(G" +,-" D?E%I-" ')" &A-I%D1%&+&"
*-BD*?%(B"?%-+D*@",D>%+&"-f-*I%&-&"D(?"A*DI+%I-&" )'*"3-(+D1"&+*-&&"*-1%-)"M%(I12?%(B"@'BDN"
3D@",DE-"+'"A'A21D*%d-"%("+,-"3-?%DO"
#('+,-*"H$JG"/,%I," %&"A*-ED1-(+"('/"%("8(?%D"D(?"D*%&-&"3'&+1@"?2-"+'"A'E-*+@"'*"
(-B1-I+"')"%11(-&&"D+"D"@'2(B"DB-G"%&"*,-23D+%I",-D*+"?%&-D&-"MXRJNO"8+"%&"D"3Da'*"ID2&-"')"
HD*?%'ED&I21D*"3'*>%?%+@"D(?"3'*+D1%+@O"U,-"A*-E-(+%'("')"XRJ"*-b2%*-&"-D*1@"?%DB('&%&"
D(?"A*'3A+"+*-D+3-(+"')"&+*-A+'I'IID1"A,D*@(B%+%&G"-&A-I%D11@"%("I,%1?*-("DB-?"Qc!]"@-D*&O"
U,*'2B," D" &+*-A+'I'IID1" EDII%(-" %&" 2(?-*" %(E-&+%BD+%'(G" I1%(%ID1" +*D%1&" D*-" @-+" +'" +DC-"
&,DA-O"#"321+%ED1-(+G"('(cI*'&&"*-DI+%E-G" 1'(B"1D&+%(B"D(?"%(-fA-(&%E-"EDII%(-"/'21?">-"
%?1-" )'*" A*'A,@1Df%&G" >2+" ?'-&" ('+" DAA-D*" +'" >-" )-D&%>1-O" <-I'(?D*@" A*'A,@1Df%&" /%+,"
A-(%I%11%(" %&" D(" DED%1D>1-" +-I,('1'B@"/,'&-" I'3A1%D(I-" (--?&" +'" >-" %3A*'E-?O"H1%(%ID1"
+*D%1&"'("+,-"-))%IDI@"')"%332('c3'?21D+'*@"+,-*DA@")'*"*,-23D+%I")-E-*"D*-"*-b2%*-?O"
W,%1-">D11''("ED1E'A1D&+@"D(?"&2*B-*@"D*-"A*-&-(+1@"DED%1D>1-"D+"&'+"+-*+%D*@"I-(+-*&G"+,-"
-b2%A3-(+&"D(?"?%&A'&D1&"D*-"3'&+1@"%3A'*+-?O"8(?%B-('2&1@"?-E-1'A-?"A*'&+,-+%I"ED12-&"
32&+" >-" 4*'3'+-?" D(?" +-I,('1'B%-&" )'*" A*'?2I+%'(" ')" %(?%B-('2&" -b2%A3-(+" D(?"
?%&A'&D>1-&"32&+">-"?-E-1'A-?O":("D11"+,-&-")*'(+&G"B%E-("+D*B-+&"D(?"B''?"'*BD(%dD+%'(G"
8(?%D"ID("-D&%1@"0-D&2*-"2A" +'"+,-"A*'>1-3O":+,-*"('(cI'332(%ID>1-"?%&-D&-&" &2I,"D&"
?%D>-+-&" 3D@" >-" D" ID2&-" )'*" I'(I-*(O" #>'2+" Qc!K" A-*" I-(+" ')" +,-" A'A21D+%'(" %(" 8(?%D"
&2))-*&" )*'3" ?%D>-+-&O" 4*-E-(+%E-"3-D&2*-&" %(I12?-" B-(-+%I" I'2(&-1%(B" D(?" ?%-+D*@" D(?"
1%)-&+@1-" I'2(&-1%(BO" 91''?" B12I'&-" ?-+-I+%(B" ?-E%I-&" ,DE-" >--(" &%3A1%)%-?" D(?"
3%(%D+2*%d-?O"R'/-E-*G"D",%B,"*2((%(B"I'&+"D(?"+,-"(--?")'*"I,D(B%(B"+,-"5b2%A3-(+"D*-"
1%3%+%(B")DI+'*&O"<+D(?D*?%d-?"B12I'&-"3-D&2*%(B
=KV!
)B95;7=;,!#-1+;B!RJ!?067;B!"67D,;67;>!"6!"6,D0!
?067;B!>D=;!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!2;0B!
eeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!
&'''!!!!!!!!!!!!!!!!!!!!!!!!!!!&'&'!
&'&C!
YYYYYYYYYY" iiiiiiiiiii!YYYYYYYYYY"
0"""""""""""""""_"""""""""""""0""""""""""""""""_""""""""""""""""0"_"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"iiiiiii!
RB0.!70FD=G! PPdg^!!!!!!!!!!!&Ocg'! ^]^c'!!!!!!!!!!!!!!!!&P^C^!!!!!!!!!!!g^&]]!
&P&cC!
)@0BG6h!!!!!!!!!!!!!!!!!PC^PC!!!!!!!!!!!CC'gO!!!!!!!!!!!!!!^cd]d!!!!!!!!!!!!!!!!C^Cg^!!!!!!!!!!!gOcOd!
C]cc]!
XD..D96>!!!!!!!!!!!!!!!!!O]]dC!!!!!!!!!!!OOP]c! ^c^O]!!!!!!!!!!!!!!!!!Pd']]!!!!!!!!!!!gPdOd!
cPPCd"
FD*@(f""""""""""""""""""!VVP]""""""""""""""!Q\K""""""""""""""=PLVQ"!KLT"""""""""""=VV\V""""""""""""""""""""PT]!
K-6<>! PgcOP!!!!!!!!!!!!c]cO!!!!!!!!!!!!!!!!cg]c]! ]COd!!!!!!!!!!!]'^Cg!
CCP^]!
WBD60BG!+.0,,;B!!!!CCdcC!!!!!!!!!!!!&]]d!!!!!!!!!!!!!!!!Ccc'O! PCcg!!!!!!!!!!!&Cd&&!
^P^c!
I4?!!!!!!!!!!!!!!!!!!!!!!&'Pg&d!!!!!!!!!g]g]d! &dCO^P!!!!!!!!!!!!!!!C'&Ccd! Oc^'C&!
C&^c']"
9*-D&+" c \\\T!" c" !TK]KP"c" !VQ]LL!
?;BFDh! _! dO&dO! _! d&P]^! _!
gc]cO!
KG1A@910!!!!!!!!!!!!!&^d]&!!!!!!!!!!!Cc'^O! O^Occ!!!!!!!!!!!!!!!!!!&PP&d!!!!!!!!!!P^cg]!
OO]^d!
K;-8;1D0!!!!!!!!!!!!!C]'CO!!!!!!!!!!!!CPg'C! &^]'&!!!!!!!!!!!!!!!!!!&CC^&!!!!!!!!!!OOO]&!
&dOcc
=K\!
YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY!
YYYYYYYYYYYYYYYYYYYYYYY!
%..!>D=;>!!!!!!!!!!!!!!!!!PgcO'd!!!!!!!!!!PPdPd&!!!!!!!!!!!!!c^^gdg! ^gPCdC! d^C]'P! g'^d]c"
J-E%I-&" D(?" ?%DB('&+%I" C%+&"/'21?" B*-D+1@" ,-1A" %(" +,-"3D(DB-3-(+" ')" +,-" ?%&-D&-O" U,-"
A*'a-I+-?" *-b2%*-3-(+&" ')" %(&21%(" )'*" =K!KG-&+%3D+-" D+" D>'2+" !]V" >%11'(" 2(%+&" D((2D11@G"
%(?%ID+-&" +,-" %3A'*+D(I-" ')" ?-E-1'A%(B" %(?%B-('2&" +-I,('1'B@" )'*" 1'/cI'&+" ,23D("
*-I'3>%(D(+" D(?" '+,-*" (-/-*" )'*3&" ')" %(&21%(O" 8+" 3D@" %(I%?-(+D11@" >-" A'%(+-?" '2+" +,D+"
32I,"')" +,%&" " " -b2%A3-(+&G"3-?%I%(-&" D(?"?%DB('&+%I"C%+&G" >-" %+" )'*"?%D>-+-&G"H$JY&"'*"
'+,-*" ?%&-D&-&G" ID(" >-" -fA'*+-?O" J'3-&+%I" I'(&23A+%'(" D1'(-" ID(" )'*3" D" *-D&'(D>1@"
A*')%+D>1-">2&%(-&&"E-(+2*-O"
HD(I-*" %&"D('+,-*"D*-D"+,D+"/'21?"*-b2%*-"&A-I%D1"D++-(+%'(O"#3'(B&+"3D(@",%B,c"
1-E-1"('(c3-?%ID1"?-I%&%'("3DC-*&"+,-*-" %&"D"B-(-*D1"'A%(%'("+,D+"ID(I-*" %&"D"?%&-D&-"')"
+,-"*%I,"D(?"+,-@"ID("+DC-"ID*-"')"%+O"92+"+,-")DI+&"D*-"'+,-*/%&-O"HD(I-*"%&"D"?-B-(-*D+%E-"
?%&-D&-" %()12-(I-?" >@" DB-G" -(E%*'(3-(+G" D(?" 1%)-&+@1-&O"#1&'G" %(I*-D&-?" 1%)-" -fA-I+D(I@"
3-D(&"D("%(I*-D&-?"%(I%?-(I-"')"ID(I-*s"UD>1-"!KO="%(?%ID+-&"+,-"%(I%?-(I-&"')"ID(I-*"""%("
8(?%D"D(?"+,-")2+2*-"D(?"+,-")2+2*-"A*'a-I+%'(O"
8(?%D("%(I%?-(I-&"D&"A-*"+,-"I2**-(+"*-I'*?&"DAA-D*"+'"%(?%ID+-"+,D+"%)"/-"1''C"D+"
+,-"I'33'("""&%+-&"')"ID(I-*"%("+,-"A'A21D+%'(G"+,-%*"A*'A'*+%'(&"D(?"+*-(?&G"'E-*"TK"A-*"
I-(+"')"ID(I-*"%("3D1-&"D(?"=K"A-*"I-(+"')")-3D1-&"ID(">-"?%*-I+1@"D++*%>2+-?"+'"+,-"2&-"')"
+'>DII'O"0'&+"')"+,-&-"ID(I-*"ID&-&"D*-"A*-&-(+-?"'(1@"D+"+,-"1D&+"&+DB-"')"+,-"?%&-D&-"D(?"
E-*@")-/"D+"+,-"-D*1@"1'ID1%d-?"&+DB-G"%(I*-D&%(B"+,-""""%(I%?-(I-"')"?-D+,">@"+,-"?%&-D&-O"#"
*-1D+%E-1@" ,%B," %(I%?-(I-"')" &+'3DI,"ID(I-*" %(" +,-"&'2+,"D(?"BD11" >1D??-*"ID(I-*" %(" +,-"
('*+,"%&"'>&-*E-?G"+,2&"3DC%(B"&+2?%-&"'("ID(I-*"-+%'1'B@"D(?"-A%?-3%'1'B@"""%3A-*D+%E-O"
8+"%&""-&&-(+%D1""+'""B-(-*D+-""%()'*3D+%'(""'("">D&-1%(-""AD*D3-+-*&"")'*""?%))-*-(+""*-B%'(&"
')""+,-""I'2(+*@""%(""'*?-*""+'""D&&-&&""+,-""*%&C"")DI+'*&""D(?""?-E-1'A""3-D&2*-&""+'""I*-D+-"
D/D*-(-&&O"5))-I+%E-""?%DB('&+%I""D(?""+,-*DA-2+%I"")DI%1%+%-&""D*-""-&&-(+%D1""D11""'E-*""+,-"
I'2(+*@O"_'*""-fD3A1-G"-(?'&I'A-&""D*-""D(""-&&-(+%D1" "AD*+""')" "?%DB('&+%I""&-*E%I-&" ")'*"
ID(I-*O"U,-@""D*-""DED%1D>1-" '(1@""D+""&A-I%D1%d-?"%(&+%+2+%'(O"#""&-+""')""-(?'&I'A-&"""I'&+&"
D>'2+""X&O=OQ"3%11%'(""('/O"W-"">-1%-E-""+,D+""+,-""I'&+&""ID("">-"">*'2B,+""?'/(""AD*+1@"
>@""-I'('3%-&""')"""&ID1-""D(?""AD*+1@""+,*'2B,""%(('ED+%E-""?-&%B(""+'""ID+-*""+'""-&&-(+%D1
=!K"
(--?&O" :)+-(" " " +,-" E%&%'(" " ')" " +,'&-" " /,'" " A1D(" " " +,-" " A*'B*D33-?" " %&" " 1%3%+-?" " +'"
A*'I2*-3-(+""')""+,-""-b2%A3-(+&""%(""D"")-/""2*>D(""I-(+-*&""D(?""%(""D"")-/""'+,-*""D*-D&"
+'""A*'E-""+,D+""/-"",DE-""%+""-1&-/,-*-""+''s"U,%&""(D**'/""E%&%'(""&,'21?""I,D(B-O"
S-+""DBD%(G"DED%1D>%1%+@""')""-f+-*(D1""*D?%'+,-*DA@""H'>D1+c]K""2(%+&""%&""1%3%+-?"
+'""&A-I%D1%d-?"""2(%+&O"U,-*-"""D*-""'(1@"""!=K""2(%+&""%(""+,-""I'2(+*@""D(?""+,-&-""D*-""D1&'"
('+""2(%)'*31@""?%&+*%>2+-?O"W%+,""+,-"" %(I*-D&%(B" %(I%?-(I-""')""ID(I-*G" %+""%&""-&+%3D+-?"
+,D+"")'*""-E-*@""'(-""3%11%'("""A-'A1-G"D+"1-D&+""'(-""2(%+""/%11"">-""*-b2%*-?O"U,D+""%&""D>'2+"
!KKK" " 2(%+&G" /%+," " %(I*-D&%(B" " " ?-3D(?&" " %(" " +,-" " )2+2*-O" W%+," " " '2+" " +*-3-(?'2&"
IDAD>%1%+%-&""%(""(2I1-D*""+-I,('1'B%-&""D(?"""3D(@""'+,-*"""&2AA'*+%(B""8(?%D(""%(?2&+*%-&G"
ID("" +,%&" "A*'>1-3""('+" ">-""&'1E-?"">@"" %(('ED+%E-""D(?"" %(-fA-(&%E-""?-&%B(&e"5fA-*+&"
>-1%-E-""+,D+""%+""ID(O"8)""+,-*-""2&""D""3%&&%'(G"D""?-3D(?""/%11"">-""B-(-*D+-?O"
8)""D" (2I1-D*""+-I,('1'B%&+""%&""&,'/("")'*-%B(""-b2%A3-(+&""D(?""D&C-?""%)"",-"
'*""&,-""ID(""3D(2)DI+2*-?"
%+""%(""8(?%DG"+,-""D(&/-*""/%11"">-""h@-&Yg",-"/%11""I'3-""2A""/%+,""D(""%(('ED+%E-"""?-&%B("
D(?""D(""-&+%3D+-""')""+,-""I'&+""/,%I,""3D@""')+-("">-""E-*@"",%B,O"8+""%&""D""A%+@G">2+""%+""%&"
'(1@" " E-*@" " *D*-1@" " +,D+" " +,-" " &D3-" " +-I,('1'B%&+" "/'21?" " >-" " )DI-?" "/%+," " +,-" " A*'a-I+"
&+D+%(B""+,D+""'2*""E%&%'(""%&""+'""*-DI,""+,-""/,'1-""')""8(?%DO"YID(""@'2""&%+""/%+,""?'I+'*&"G"
A*'?2I+%'(""&A-I%D1%&+&G">2&%(-&&3-(""D(?""'+,-*&""+'""I'3-""2A""/%+,""3%(%323""-&&-(+%D1"
)-D+2*-&""+'""I*-D+-""+-I,('1'B@""DED%1D>1-""D+""D""1-&&-*""I'&+G"'(""D""1D*B-""&ID1-""D(?""3'*-"
&A--?%1@e"U,D+""%&""D""b2-&+%'(""/,%I,""%&""(-E-*""D&C-?O":E-*"D""A-*%'?G"'2*""&@&+-3"",D&"
1'&+""+,-""IDAD>%1%+@""+'""-(+,2&-""A-'A1-g"+'""A'&-""I,D11-(B%(B""A*'>1-3&"")'*""'2*""@'2+,"g"
+'"",D*(-&&""D""1D*B-""E%&%'(O"
F-+""+,-""I'3%(B"")%)+@""@-D*&"">-""D""A-*%'?"""')"""-fAD(?-?""E%&%'("")'*""8(?%DG"
)D%+,""%(""'2*&-1E-&G"D"">'1?" ?-&%*-""+'""ID*E-""(-/""AD+,&""D(?""I*-D+-""D(""-(E%*'(3-(+"")'*"
+,-""@'2+,""+'""-fI-1O"<2I,"D""(-/""?-E-1'A-?""8(?%D""/%11""%(&A%*-""I'()%?-(I-""%(""A-'A1-"
')" "'+,-*" "I'2(+*%-&" "D&" "/-11O"F-+" "2&" " 1''C"" )'*" " D" "&+*'(BG",-D1+,@"D(?"/-D1+,@" " "8(?%D"
*D?%D+%(B"""%+&"""/-11c>-%(B"+'""D11""A-'A1-O"
<%B,+"")'*""D11"
5E-("""D&""/-""&A-DC""')""E%&%'(G"%+""%&""?-A*-&&%'(""+'""DIC('/1-?B-""+,D+""8(?%D"
,D&" "'(-" )'2*+," "')" " +,-""/'*1?Y&" ">1%(?""'*" "E%&2D11@" ",D(?%IDAA-?O"#>'2+" ""!=""3%11%'(
=!!"
A-'A1-""D*-"")211@"">1%(?""D(?""=K"3%11%'("&2))-*"")*'3""ED*%'2&"")'*3&""')""&-*%'2&""E%&2D1"
,D(?%IDA&G"*-(?-*%(B""+,-3""E%*+2D11@""%(-))-I+%E-O"
#+" " "CO6O"R'&A%+D1" " "D+" "I'%3>D+'*-G" "D"/-11c+'c?'""A-*&'(""D1'(B""/%+," "D" " )-/"
?'I+'*&" " %&" "A*'E%?%(B" " -@-" "ID*-" " +'" "3D(@" "A''*" "A-'A1-G" %(I12?%(B" " +,'&-" " %(" " (-D*>@"
+'/(&" " D(?" " E%11DB-&O" U,-" " " ED(&" " B'" " )'*" " +-&+&" " D(?" " A%IC" " 2A" " ID&-&" " *-b2%*%(B"
+*-D+-3-(+OW,%1-""B'%(B""'(""D""*'2(?""')""&'3-""')""+,-""AD+%-(+&"G"8""ID3-""+'""D(""-1?-*1@"
3D(""D(?""D&C-?"",%3""%(""UD3%1""/,D+",%&""(D3-""/D&""D(?""/,-*-"",-""/D&"")*'3O"U,-"
3D(" " *-A1%-?G" Y8" ",DE-" ",-D*?" "D>'2+" "@'2G" "CD1D3" " &%*g" 8" D3" " ",DAA@" " +'" ">-" "(-D*" "@'2"
+,'2B,""8""ID(('+""&--""@'2sY"8""D&C-?"",%3"",'/""'1?"",-""/D&O"U,D+"""3D?-""+,-""-1?-*1@"
3D(""+-D*)21O"R-"&D%?GY"8""?'(Y+""C('/""3@""DB-""D(?""8""?'(Y+""ID*-""D>'2+""%+""('/O"8""",DE-"
>--("""%(""?D*C(-&&"")'*""&'""3D(@""@-D*&""+,D+""%+""DAA-D*&""+'" 3-""+,D+""3D(@""@2BD&"""D*-"
'E-*O"F'&%(B"""@'2*"""E%&%'("" %&""32I,""D"">D?""+,%(B"">-ID2&-""@'2""'/(""I,%1?*-(""+D2(+"
@'2""D&" "D" "C2*2?D("MD" ">1%(?""3D(NOY"8(?%ID+%(B"" ",%&" ">D(?DB-?""-@-&" ",-"" &D%?GY"U,-&-"
A2(@DED(&"M,'1@"&'21&N"DAA-D*""+'""ID*-"")'*" 3-O"U,-@"">*'2B,+""3-""%(""D""ED(G"-fD3%(-?"
3@""-@-&""D(?""?%?""&'3-""'A-*D+%'(&O":(I-"+,-@""'A-(-?""+,-"">D(?DB-&""+'""?'""D""I,-ICc"
2Ag"%+""1''C-?""+'""3-""+,D+""8""/D&""D>1-""+'""&--""+,*'2B,"",Dd%1@O"U,-@""+'1?""3-""+,D+""%(""D"
I'2A1-" " ')" " ?D@&" "3@" " >D(?DB-&" "/'21?" " >-" " 'A-(-?" " D(?" " +,-@" "/'21?" " B%E-" " "3-" " D"
B1D&&-&O"0D@""6'?"">1-&&""+,'&-""/,'""/%11""&DE-""3-"")*'3""+,-""3%&-*D>1-""&+D+-""')"">-%(B"
D""C2*2?D(tO";D1D3"" &%*G"8"D3" "I'()%?-(+" " +,D+" "8" "/%11" "&--" "@'2" "/%+," "3@" "-@-&" "D(?"
B1D&&-&""?2*%(B""3@""1%)-+%3-t"3@"")D%+,""%(""6'?"",D&""B'(-""2Ag",-""I'3-&""+,*'2B,""C%(?"
,23D(">-%(B&"t"
U,-"""3D("""/D&""'>E%'2&1@""&2))-*%(B"")*'3""D""ID+D*DI+O"4*'>D>1@""",%&""I,%1?*-("
-%+,-*""?%?""('+""ID*-""'*"",-""I'21?""('+""D))'*?""+'" B'""%("")'*""D(""'A-*D+%'(O"
#13'&+" " "VK"A-*"I-(+" "')" ">1%(?(-&&" " %(" "8(?%D"" %&" "?2-""+'"" "ID+D*DI+O"U,-""'+,-*"
&%B(%)%ID(+" " ID2&-&" " D*-" " I'*(-D1" " ?%&-D&-&G" B1D2I'3DG" ?%D>-+-&" D(?" '+,-*" " E%+*-'*-+%(D1"
?%&'*?-*&O"8(+-*1'>21D*"""1-(&"M8:FN""%3A1D(+D+%'(""%&""D(""%?-D1""3-+,'?"")'*""*-,D>%1%+D+%'("
')""ID+D*DI+""AD+%-(+&""D)+-*""&2*B-*@O"5f+*D"IDA&21D*""ID+D*DI+""&2*B-*@""/%+,""8:F""%&""'(-"
')""+,-""3'&+""I'&+c-))-I+%E-""+,-*DA%-&G"%(""+-*3&""')""b2D1%+@""')""1%)-G"&%(I-""E%&%'(""/%+,""D&"
B''?""D&" "]n\" " %&" "A'&&%>1-O" 8(" "8(?%D""3'&+1@" " %(+*DIDA&21D*" " "-f+*DI+%'("" " %&" "A*DI+%I-?"O"
R'/-E-*G"8:F""%3A1D(+D+%'(""%&""D1&'"">-I'3%(B""%(I*-D&%(B1@""A'A21D*O"#II'*?%(B""+'""D"
&2*E-@G"')" " +,-" "ID+D*DI+" "'A-*D+%'(&" "*-A'*+-?"" %(" " +,-" I'2(+*@" " " %(" "!\\=G"T=""A-*"I-(+
=!="
/-*-" " -f+*D" IDA&21D*" " D(?" " D>'2+" " ,D1)" " ')" " +,-&-" " *-I-%E-?" " 8:F&O" U,-" " A*'a-I+-?"
*-b2%*-3-(+&"")'*""8:F&"" %(""+,-""I'2(+*@"""/'21?"">-""I1'&-""+'""=""3%11%'(""-E-*@""@-D*O"
U,%&""(-I-&&%+D+-&""A*'?2I+%'(""')"">-++-*""b2D1%+@" "8:F&"" %(?%B-('2&1@O"#('+,-*""3'?-*("
+-I,(%b2-""')""ID+D*DI+""&2*B-*@""-3A1'@-?""%(""'E-*+""LQ""A-*"I-(+""')""+,-""ID&-&""%(""+,-"
7<#""%(""A,DI'321&%)%ID+%'(G"/,-*-""&2*B-*@""%&"""A-*)'*3-?""+,*'2B,""D""P"33""%(I%&%'("
D(?""+,-""1-(&""%(&-*+-?""+,*'2B,""D""&1%B,+1@""-(1D*B-?""%(I%&%'(MQOQ"33NO"#1+-*(D+%E-1@G"D"
)'1?D>1-"" &%1%I'(""8:F"" %&" " %3A1D(+-?"" +,*'2B,""D" "POQ"33"" %(I%&%'(O"4,DI'321&%)%ID+%'("
+-I,('1'B@" " (--?&" " " +'" " >-" " 3D?-" " DED%1D>1-" " %(" " 8(?%DO" U,-*-" " %&" " D1&'" " &I'A-" " )'*"
?-E-1'A3-(+" " ')" &3D11" " %(I%&%'(" " +-I,('1'B%-&" " &2I," " D&" " 1D&-*&" " D(?" " 3-I,D(%ID1"
-(?'1-(+%I21D*"")*DB3-(+D+%'(O"
U,-" "JXJ:" " ,D&" " 3D?-" " D" " &3D11" " I'(+*%>2+%'(" " +'" " -@-" " ID*-" " +,*'2B," " +,-"
?-E-1'A3-(+""')"hJ*%&,+%Y"-@-"" 1D&-*""-b2%A3-(+O"U,-""JXJ:"",D&"")'*3-?""+,-""&'I%-+@"
)'*" " 9%'3-?%ID1" " U-I,('1'B@" " M<90UN" "/%+," " +,-" " '>a-I+%E-" " ')" " I*-D+%(B" " I'(?%+%'(&"
2(?-*" " /,%I," " I'&+c-))-I+%E-G" 1%)-c&DE%(B" " 3-?%ID1" " " A*'?2I+&" " ID(" " >-" " %(?%B-('2&1@"
A*'?2I-?""D(?""3D?-""DED%1D>1-""+'""+,-""I'33'(""3D(""D+""D))'*?D>1-""A*%I-&O"U,-""&A%(c"
'))&""')""?-)-(&-""+-I,('1'B@""D*-""+,-"""">D&%I""&+*-(B+,""')""<90UO"U,-""&'I%-+@"">%(?&"
+'B-+,-*" "&I%-(+%&+&G"-(B%(--*&G"?'I+'*&G"&'I%D1"/'*C-*&"D(?""D?3%(%&+*D+'*&"" %(" "D" "&,D*-?"
3%&&%'(O" 8(" " 1-&&" " +,D(" " +,*--" " @-D*&" " +%3-G" JXJ:n<90UG" D1'(B" " /%+," " '+,-*&G" ,DE-"
&2II-&&)211@" "?-E-1'A-?""D(""-f+-*(D1"""ID*?%DI""ADI-3DC-*""/,%I,"" %&""'(-c+,%*?" "')" "+,-"
I'&+""')"" %+&"" %3A'*+-?""I'2(+-*AD*+G"D(""D2+'3D+-?"""ID(I-*""?-+-I+%'(""?-E%I-"")'*""3D&&"
ID(I-*""&I*--(%(BG""D(?""D""1'/cI'&+""ID*?%DI""&+*-&&""+-&+""&@&+-3""+'""+DC-""+,%&""%3A'*+D(+"
&I*--(%(B" " +''1" " ')" " ?%DB('&%(B" " I'*'(D*@" " " D*+-*@" " ?%&-D&-&" " +'" " &3D11" " +'/(&" " D(?"
I'332(%+@"",-D1+,""I-(+-*&O"U,-""+-I,('1'B%-&"")'*""+,-&-""&@&+-3&"",DE-"">--(""+*D(&)-**-?"
+'" " %(?2&+*@" " " )'*" " A*'?2I+%'(O" U,-" 1D>'*D+'*@" " &@&+-3&" " ')" " J*%&,+%" " D(?" " I'*'(D*@"
ID+,-+-*&""D*-""2(?-*""I1%(%ID1""ED1%?D+%'(O"U,-"""[D%A2*"""")''+""")'*""A'1%'cD))-I+-?""I,%1?*-("
?-E-1'A-?" " >@" "J*" 4O;O<-+,%" " " ,D&" " >--(" " 3D?-" " 21+*Dc1%B,+" " >@" " 2&%(B" " D(" " D?ED(I-?"
I'3A'&%+-" 3D+-*%D1""+,D+""B'-&""%(+'""3DC%(B""3%&&%1-"",-D+""&,%-1?&O"U,-""I'*'(D*@""&+-(+"
%&""2(?-*""A*'?2I+%'(O"41D(&""D*-(""D)''+"""+'""-(1D*B-""+,-&-""-))'*+&G"2&%(B""D""&A%(c'))""')"
?-)-(I-" " +-I,('1'B@" " )'*" " 1D2(I,%(B" " %(?%B-('2&" " ?-E-1'A3-(+" " ')" " D" " ,'11'/c)%>*-"
?%D1@&-*G""I'*'(D*@""&+-(+&"G"?*2B""?-1%E-*@""%3A1D(+&""D(?""3%I*'A*'I-&&'*c>D&-?""%(cID(D1"
,-D*%(B""D%?&O"U,-""3%&&%'("" %&""-('*3'2&O"U,-""AD*+(-*&""D*-" "3-?%ID1" " %(&+%+2+%'(&" "D(?
=!P"
%(?2&+*%-&O"W-""?-&%*-" " +,D+" "D11" " +,-""DED%1D>1-" " +-I,('1'B@"" )'*I-&" "D(?""A,%1D(+,*'A%&+&"
32&+""I'3-""+'B-+,-*""+'""3DC-"""%+"",DAA-(O"
U,-*-"""D*-""'+,-*""&'1%?""%(&+%+2+%'(""D(?""%(?2&+*%-&""%(""8(?%D""IDAD>1-""')""?'%(B"
3'*-O"9#XH" " %&" " ('+" "3-*-1@" " ?-E'+-?" " +'" " (2I1-D*" ?-E%I-&" " '*" " &@&+-3&O" 8+" " ,D&" +,-"
C('/1-?B-" " D(?" " IDAD>%1%+%-&" " )'*" " " 3D(@" " 3-?%ID1" " +-I,('1'B%-&O" U,-" " I-(+*-" " )'*"
#?ED(I-?""U-I,('1'B@"MH#UN""D+""8(?'*-"",D&""/'*1?cI1D&&""IDAD>%1%+%-&""%(""1D&-*""?-E%I-&"
D(?""DAA1%ID+%'(&O"J*"0O<O$D1%D+,D(G"/,'""1-?""+,-""R-D1+,"HD*-"U-I,('1'B@ $%&%'("=K=K"
&+2?%-&G"%&""D(""-3%(-(+""&I%-(+%&+&""D(?""+-I,('1'B%&+""')""8(?%DO"0'*-""+,D("""+,*--""?-ID?-&"
DB'"",-""ID3-"">DIC"")*'3""7<#""D)+-*"",%&""D?ED(I-?""&+2?%-&""+'"">2%1?""D("" %(&+%+2+%'("
ID11-?""<*%"H,%+*D"U%*2(D1"0-?%ID1" "H-(+*-"" " 1'ID+-?""D+" "U,%*2ED(D(+,DA2*D(O":A-*D+%(B"
)*'3""+,-*-""DBD%(&+"",-DE@""'??&G",-""D(?"",%&""+-D3"",DE-""?-E-1'A-?""3D(@"">%'3-?%ID1"
?-E%I-&""*D(B%(B"")*'3"">1''?"">DB&"""+'"",-D*+"""ED1E-&G">*%(B%(B""?'/(""+,-""I'&+&""&-E-*D1"
)'1?O"U,-&-""?-E%I-&" "D*-" "2(?-*" "I'33-*I%D1" "A*'?2I+%'("" %(" "8(?%D""D(?""&'3-""')" " +,-"
?-E%I-&""D*-""D1&'""A*'?2I-?""D>*'D?""2(?-*""&2II-&&)21""+-I,('1'B@""-fA'*+""I'(+*DI+&O"U,-"
%(&+%+2+-" " ,D&" " ?-E-1'A-?" " &-E-*D1" " 2(%b2-" " IDAD>%1%+%-&" " %(" " >%'" 3-?%ID1" " ?-E%I-&O"
<%3%1D*1@G" +,-""I'cI,D%*A-*&'(""')" " +,-""E%&%'(""=K=K""-f-*I%&-G" +,-""-3%(-(+" "(2+*%+%'(%&+"
J*"0D,+D>"9D3a%G" " ,D&" " -f+-(&%E-" "-fA-*%-(I-" " %(" " *2*D1" " D*-D&O"#)+-*" " *-+%*-3-(+&" " &,-"
&A-(?&""32I,""')"",-*""+%3-""%(""*2*D1""D*-D&G"I'(+*%>2+%(B""+'/D*?&""+,-""E%&%'(O"U,-*-""D*-"
-f+*-3-1@""IDAD>1-""3-?%ID1""A-*&'((-1G"&I%-(+%&+&""D(?""-(B%(--*&""D11"'E-*""+,-""I'2(+*@O"
U,-&-""D*-""3D(@"".6:&""D(?""@'2+,""%(""&-D*I,""')""I,D11-(B%(B"",23D(""3%&&%'(&O"U,-*-"
D*-""3D(@""A-*&'(&""1%C-""J*"$O"<2?D*&D(""')""0@&'*-""/,'""I'3>%(-""3'?-*(""C('/1-?B-"
D(?""&I%-(+%)%I""3-+,'?'1'B%-&""/%+,""+,-""%(,-*%+-?""/%&?'3""')""'2*""A-'A1-O"#1&'G"3'&+"
-fA-*+&"">-1%-E-""+,D+""3D(@""'1?-*"")'*3&""')""3-?%I%(-&""D(?""3-?%I%(D1""A1D(+&""/%11"",DE-"
D(""%3A'*+D(+""*'1-""+'""A1D@""%("")2+2*-""3-?%ID*-""&@&+-3&""('+""'(1@""%("8(?%D"">2+""%(""+,-"
/'*1?O"U,D+""%&""+,-""*-D&'(""3D(@"")'*-%B(""321+%(D+%'(D1""I'3AD(%-&""%(E-&+""%(""*-&-D*I,"
D(?""?-E-1'A3-(+""')" ,-*>D1""?*2B&O"#"")-/""')""'2*""-fA-*+&""'A%(-""+,D+""32I,""')"" %+&"
C('/1-?B-" " ,D&" " ('+" ">--(" " )211@" " -fA1'%+-?" " " >-ID2&-" "')" " +,-" " 1%3%+-?" "A*-ED1-(I-" "')"
<D(&C*%+" " D(?" " 8(?%D(" " " 1D(B2DB-&O"W%+," " %+&" " D(I%-(+" " C('/1-?B-" " >D&-" " D(?" " -fI-11-(+"
>%'?%E-*&%+@G"8(?%D""ID(""*-D11@"">-I'3-""D""/'*1?"" 1-D?-*"" %("",-*>D1""D(?""'+,-*""(D+2*D1"
3-?%ID*-""&@&+-3&O
=!T"
0D+-*(D1""D(?""I,%1?"",-D1+,"
F-+"""2&""-(?""+,%&" "I,DA+-*"">@""D??*-&&%(B""D""I*2I%D1""-1-3-(+""')""+,-"",-D1+,"
ID*-""&@&+-3G"+,D+" " %&" "3D+-*(D1" "D(?"" "I,%1?",-D1+,O"W'3-(""')" "I,%1?c>-D*%(B""DB-" "D(?"
I,%1?*-(""2(?-*"")%E-""*-A*-&-(+""+,-""3D+-*(D1""D(?""I,%1?""ID+-B'*@"" %(""D(@""A'A21D+%'("
A*')%1-O"#&""A-*""+,-""!\\!""I-(&2&G"Q]"A-*"I-(+""')""+,-""A'A21D+%'(""%(""8(?%D""")D11""2(?-*"
+,%&""ID+-B'*@O"U,-""A*'a-I+-?""0D+-*(D1""D(?""H,%1?"R-D1+,"M0HRN"A'A21D+%'(""%&""B%E-("
%(""+D>1-""!KOPO"#(D-3%D"G"I,*'(%I""2(?-*c(2+*%+%'(""D(?""I'3A1%ID+%'(&""?2*%(B""A*-B(D(I@"
D(?""I,%1?>%*+," "D*-" " +,-""'*?-*&" "')" "A*%'*%+@" " )'*" "3D+-*(D1" ",-D1+,O"8("+,-""ID&-""')" " +,-"
I,%1?*-(G" +,-" " A*%'*%+%-&" " D*-" " ?%D**,'-D1" " " ?%&-D&-&G" D(-3%DG" A-*%(D+D1" ?%&'*?-*&" " D(?"
E%+D3%("#""?-)%I%-(I@O"5))-I+%E-""D(+-(D+D1""ID*-G"A*'A,@1DI+%I""%*'(""D(?""?*%(C%(B""/D+-*"
)DI%1%+%-&G""2(%E-*&D1""%332(%dD+%'(""I'E-*DB-""D*-""&'3-""')""+,-""3-D&2*-&""/,%I,""/'21?"
*-?2I-""+,-""A*'>1-3&""%(""0HROM&--"+D>1-""!KOPN"
8(" " )DI+G" ('(-" " ')" " +,-" " 3-?%ID*-" " *-b2%*-?" " )'*" " 3D+-*(D1" " D(?" " I,%1?" " ,-D1+,"
?-3D(?&" ">*-DC+,*'2B,"" +-I,('1'B%-&O"W,D+" " %&" "*-b2%*-?" %&" " D" " 1D*B-c&ID1-" "A*'?2I+%'("
D(?""?%&+*%>2+%'(""&@&+-3O"5E-(""D(D-3%D""?%DB('&+%I&"",DE-"">-I'3-""&%3A1-*G"+,D(C&""+'"
?-E-1'A3-(+""%(""+,-""+-I,('1'B%-&""')""D?ED(I-?""&-(&'*&O"W-""*-b2%*-""D""(-/""*-BD*?%(B"
'2*" " I,%1?*-(" " D(?" "3'+,-*&O"U,-" " E-*@" " )'2(?D+%'(" "')" " '2*" " )2+2*-" " ?-A-(?&" '(" " +,-%*"
,-D1+,O"
U,-"$%&%'("
U,-""E%&%'("")'*"",-D1+,"")'*""D11""8(?%D(&""%&""*-D1%dD>1-"""/-11"">-)'*-""=K=KO"W-"
,DE-""?%&I2&&-?""&'3-""?-+D%1&""/%+,""D"")-/""-fD3A1-&O"
U#9F5"!KOP"
4*'a-I+-?" "0D+-*(D1" "#(?" "4'A21D+%'("#+"J%))-*-(+"4'%(+&":)"
U%3-"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
iiiiiiiiiiiiiiiiiiiiiii"
S-D*"""""""""""""""""""""""H,%1?*-(""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""#?21+"
_-3D1-
=!Q"
MKcT" @-D*&N"
M!QcTT"@-D*&N"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
iiiiiii"
.23>-*"""""""""""""""""4-*"I-(+"')"+'+D1""""""""""""""""""""""""""""""""".23>-*"
4-*"I-(+""')"+'+D1"
M3%11%'(&N""""""""""""""""""""A'A21D+%'("""""""""""""""""""""""""""""""""""""""M3%11%'(&N"
A'A21D+%'(&"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
iiiiiiiiiiiiiiiiiiiiiii"
!\\!""""""""""""""""""""""""!!!OT"""""""""""""""""""""""""""!PO=""""""""""""""""""""""""""""""""""""""""""""""""""!V]OP"
TQOV"
=KK!""""""""""""""""""""""""!!TOQ"""""""""""""""""""""""""""!!OP" =P!OV"
TLO="
=K!!""""""""""""""""""""""""!K]OT"""""""""""""""""""""""""""""\O!""""""""""""""""""""""""""""""""""""""""""""""""""=LQOL"
TVO]"
=K=!" !KVOQ"""""""""""""""""""""""""""""VOP""""""""""""""""""""""""""""""""""""""""""""""""""PK=OP"
TLOQ"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
iiiiiiiiiiiiiiiiiiiiiii
=!]"
W,%1-"'(-"(--?&"(23>-*&"D(?"&+D+%&+%I&G"+-I,(%ID1"-ED12D+%'("D(?"%(E-&+3-(+&G"/-">-1%-E-"
+,D+"D"I,D(B-"%("+,%(C%(B"/'21?"1-D?"+'"D"3%*DI21'2&"+*D(&)'*3D+%'(O"U,-"*%I,-*"D(?"3'*-"
A'/-*)21" &-I+%'(&" ')" '2*" &'I%-+@" &,'21?" *-D1%d-" +,D+" +,-" ,-D1+," ')" +,-%*" 1-&&cA*%E%1-B-?"
I'2(+*@3-(" %&" +,-%*" A*'>1-3" D&" /-11O" U,-@" ID(" B'" +'" +,-" 7<#" '*" 7;" )'*" D" ID*?%I"
-fD3%(D+%'("'*"&2*B-*@">2+"+,-@"ID(('+"-&IDA-"D("%()-I+%'2&"-A%?-3%I"%("8(?%D"E-*@"1'(BO"
5(1%B,+-(-?"&-1)c%(+-*-&+"&,'21?"3DC-">2&%(-&&3-("*-D1%d-"+,D+"D"&%IC"/'*C-*"ID(('+"B%E-"
,%&" '*" ,-*" >-&+" -E-(" /%+," +,-" 3'&+" 3'?-*(" -b2%A3-(+O" R%B," A*'?2I+%E%+@" *-b2%*-&" D"
,-D1+,@"D&"A-'A1-Y&"AD%("D(?"DB'(@G"('+"D&")%1-&O"<%3%1D*1@G"A'1%+%I%D(&"D+"D11"1-E-1&"&,'21?"
1-D*("+'"1''C"D+"*-3'ED1"D&"D"AD*+"')"+,-%*"?2+@O"
8"/'21?" 1%C-"+'"I'(I12?-"+,%&"I,DA+-*"/%+,"D"b2'+-")*'3"D"I'(E'ID+%'("D??*-&&"8"
?-1%E-*-?"D+"+,-"UD3%1".D?2""J*"0O6OXO"0-?%ID1"7(%E-*&%+@G"0D?*D&G"'("=!"0D*I,"!\\]O"
8"I'(I12?-">@"*-ID11%(B"+,-"B*-D+"&D@%(B"')"+,-"[-&2%+"<+"8B(D+%2&"F'@'1D"+'"<+"4D21O"
<+" 4D21" D&C-?" )'*" D"3-&&DB-" )*'3" " ,%&" " B2*2" " >-)'*-" " +DC%(B" " 2A" " +,-" " D&&%B(3-(+" " ')"
A*-DI,%(BO"<+"8B(D+%2&"F'@'1D"&D%?GY6'"+'"D11"AD*+&"')"+,-"-D*+,"D(?"%B(%+-"+,-%*"3%(?&"D(?"
B%E-"1%B,+OY"J*"0O6OXO"0-?%ID1"7(%E-*&%+@"B%E-&"+,-"3-&&DB-"^"0@"@'2(B"I,%1?*-(G"6'"+'"
D11"AD*+&"')"+,-"I'2(+*@G"AD*+%I21D*@">-@'(?"*-3'E-"+,-"AD%("')"3%(?"D(?">'?@O"8(?--?G"D"
,-D1+,"3%&&%'("%&"D,-D?"')"@'2O"0@">-&+"/%&,-&O
=!L!
?@0A=;B CC!
YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY!
I@;!!L60+.D6<!!"6JB0>=B-7=-B;!
V60$$0!-6$W.!%&1*+!16!-6$W.!/)&6.!&60!2$*+-0.!&#$!*#5):!*$.*$0!4+$6!*+$!
+-#1X-6!,$%-#$!-6$!1.!*+$!,)&'J$.*;!<S&+&*2&!E&60+1"
U,-"ED*%'2&"I,DA+-*&"&'")'*")1-&,"'2+"+,-"E%&%'("')"D"?-E-1'A-?"8(?%D^"A'E-*+@"
>-%(B" -*D?%ID+-?" >@" D>'2+" =K!K" D(?" +,-" >2%1?%(B" 2A" ')" D" *'>2&+" D(?" )D&+cB*'/%(B"
-I'('3@" +,*'2B," '2*" I'*-" I'3A-+-(I%-&O" W-" ,DE-" %112&+*D+-?" A'&&%>1-" +*Da-I+'*%-&"
+,*'2B,"D")-/"%(+-*1%(CDB-&">-+/--("ED*%'2&"&-I+'*&O"#B*%I21+2*-"D(?"DB*')''?"A*'I-&&%(B"
/%11"*-b2%*-"&'3-"')" +,-" )%(-&+" %(A2+&" )*'3"-(B%(--*%(B" %(?2&+*%-&G"3D+-*%D1&" &-I+'*&"D(?"
-E-(" &-(&'*&" D(?" -1-I+*'(%I&G" %(" D??%+%'(G" ')" I'2*&-G" +'" +,-" 1%)-" &I%-(I-&" D(?"
>%'+-I,('1'B@O" 8(" +,-" 3'?-*(" /'*1?" -E-*@" 2&D>1-" A*'?2I+" '*" &-*E%I-" %&" >D&-?" '(" D"
>1-(?%(B"')"321+%A1-" +-I,('1'B%-&G"/,%I,"D*-" &,DA-?"+'"'(-"'*"&-E-*D1"-(?"2&-&O"J-&%B("
IDAD>%1%+@" %&" %(+-B*D1" +'" +,%&" D(?" /%+,'2+" %+" /-" /'21?" *-3D%(" 3-*-1@" D+" +,-" 1-E-1" ')"
1%I-(&-?"A*'?2I-*&O"8("+,-"1'(B"*2(G"+,D+"/'21?">-"D")'*3"')"-(&1DE-3-(+"+'"+,-"?-E-1'A-?"
/'*1?O"
U,-*-"D*-"'+,-*"+@A-&"')"1%(CDB-&"+''G"+,D+"')"+*D?-G")'*"-fD3A1-O"8+"%&"('+"32I,"
2&-" ,DE%(B" ,%B,-*" A*'?2I+%E%+@G" &D@" ')" I*'A&G" )*2%+G" E-B-+D>1-&G" )%&," D(?" -BB&G" %)" +,-&-"
ID(('+">-"&2AA1%-?" %("+%3-"+'"+,-"I'(&23-*&O"U,-@"ID(('+"D11">-"I'(&23-?"D+" +,-"A1DI-"
/,-*-"+,-@"D*-"A*'?2I-?O"U*D?-*&",DE-"+'"&-11"+,-"A*'?2I+&"'2+&%?-"D(?">2@"'+,-*"A*'?2I+&"
/%+,"+,-"3'(-@"3D?-O"U,-"/'*1?"+'?D@G"+,D(C&"+'"+,-"+-I,('1'B%-&"')"+*D(&A'*+D+%'("D(?"
+-1-I'332(%ID+%'(G",D&">-I'3-"I'((-I+-?"%("D"32I,"3'*-"I'3A1-f"/D@O"U,-"+%3-"+DC-("
+'")1@"D*'2(?"+,-"B1'>-"ID(">-"1-&&"+,D("D"?D@O"0-&&DB-&G"%(I12?%(B"%3DB-&"')"A-'A1-G""ID("
>-""+*D(&3%++-?"""D13'&+"""%(&+D(+D(-'2&1@O"H'3A-+%+%E-(-&&"%("&2I,"D"I'3A1-f"/'*1?"ID("
>-"&2&+D%(-?"'(1@""""""D+"D",%B,"1-E-1"')"+,-"C('/1-?B-"D(?"&C%11">D&-&"D+"D11"1-E-1&O""0D(@"
*-&'2*-&",DE-"
+'" >-" 2&-)211@" ?-A1'@-?" +'" B-(-*D+-" D(?" 2+%1%d-" &2I," C('/1-?B-" D(?" &C%11" 1-E-1&O" #1&'G"
+,'&-"/,'",DE-"&2I,"C('/1-?B-"D(?" &C%11" 1-E-1&" D&A%*-" )'*">-++-*" 1%E%(B"I'(?%+%'(&O"W-"
,DE-"'>&-*E-?"+,D+"A-*&'(&"-(a'@%(B"D">-++-*"&+D(?D*?"')"1%E%(B"D*-"D>1-"+'"/'*C"3'*-O"#"
&%3A1-"+*2+,"%&"+,D+""D"3'?-*("?-E-1'A-?"-I'('3@"ID(('+">-">2%1+"'("D"1D*B-"(23>-*"')
=!V"
A-'A1-" 1%E%(B" a2&+"D>'E-" +,-"A'E-*+@" 1%(-G"A*'?2I%(B"DB*%I21+2*D1"A*'?2I+&"D1'(-"D(?"I2+"
'))" )*'3" +,-" *-&+" ')" +,-" 3D(2)DI+2*%(B" D(?" >2&%(-&&" I-(+-*&O" U,%&" 3-D(&" +,D+" -E-*@"
A*'?2I+%'(" I-(+*-" %(" +,-" I'2(+*@" &,'21?" ,DE-" &A--?@" -I'('3%I" I'((-I+%E%+@"/%+," '+,-*"
AD*+& ')"+,-"I'2(+*@O"#+"-E-*@"I-(+*-"+,-*-",D&"+'">-"3'*-"D(?"3'*-"ED12-"D??%+%'(O"
$D12-" D??%+%'(" %&" &%3A1@" -(,D(I-3-(+" ')" +,-" ED12-" ')" 3D+-*%D1" /%+," A*'I-&&"
D++DI,-?O" 8+" 3-D(&" ?'%(B" &'3-+,%(B" 3'*-" +'" &D+%&)@" +,-" 21+%3D+-" 2&-*" '*" I'(&23-*O"
8(('ED+%'("ID("D??"3'*-" )-D+2*-&" +'"C%(?1-" +,-" %3DB%(D+%'("')"D"2&-*"'*"I'(&23-*O"_'*"
-fD3A1-G"D")D*3-*"ID("B*'/"D"AD*+%I21D*"ED*%-+@"')"3D(B'"+,D+"%&"%("B*-D+"?-3D(?O"U,-*-"
ID(">-"ED12-"D??%+%'("%)",-"ID("A*'E%?-"I'(&%&+-(I@"%("+D&+-G"&,DA-G"&%d-g"A-'A1-"/'21?">-"
*-D?@"+'"AD@"3'*-")'*"&2I,"D("D&&2*D(I-O"$D12-"D??%+%'("ID(">-"?'(-"+,*'2B,"&-1-I+%'(G"
&'*+%(B"D(?"ADICDB%(B"')"3D(B'-&"D+"+,-"A*'?2I+%'("I-(+*-O"8)"&2I,"D"ED12-"D??%+%'(",D&"+'"
>-"DI,%-E-?""'(""D""1D*B-""&ID1-G""+,-(""&'3-"")'*3&""')""&-3%c3-I,D(%dD+%'(G"+-&+%(BG"-+IO"
D*-"%(E'1E-?O"U,-&-"D*-"+-I,('1'B%ID1"%(A2+&O"
.'/D?D@&G" +,-*-" D*-" ADICDB-&" ?-&%B(-?" +,*'2B," I'3A2+-*" &%321D+%'(" /,%I,"
I'(&%?-*" +,-" +@A-&" ')" &,'ICG" E%>*D+%'(" D(?" +,-*3D1" I'(?%+%'(&" +,-" I'(+-(+&" D(?" +,-"
ADICDB-&"D*-" 1%C-1@"+'"2(?-*B'" %("+*D(&%+O"W-"ID**@"'2+"&2I,"&%321D+%'(&"D(?"?-&%B(" )'*"
3%1%+D*@"-b2%A3-(+G"&D+-11%+-&G"1D2(I,"E-,%I1-&"D(?"3%&&%1-&O"W%+,"+,-"%(I*-D&%(B"A*-&-(I-"
')" I'3A2+-*&" +,-&-" +-I,(%b2-&" D*-" >-%(B" DAA1%-?" +'" '*?%(D*@" I%E%1%D(" 1%)-O" U,D+" %&" +,-"
>-D2+@"')"+-I,('1'B@O"#&"%+"B*'/&"D(?"3D+2*-&G" %+"&A*-D?&"+'"3'*-"D(?"3'*-"A-'A1-"D(?"
A*'E%?-&">-(-)%+&"+'"D11G"+,2&">*%(B%(B"?'/("+,-"I'&+&"')"DAA1%ID+%'("')"+-I,('1'B%-&O"
H'3%(B">DIC"+'"'2*"-fD3A1-"')"ED12-"D??%+%'(G"%("D??%+%'("+'"B''?"&'*+%(B"D(?"
ADICDB%(BG"+*D(&A'*+D+%'("%("I'(+D%(-*&"/%+,"I'(+*'11-?"D+3'&A,-*%I"I'(?%+%'(&G"'*"/,-*-"
(-I-&&D*@"2(?-*"I,%11-?"I'(?%+%'(&G"C--A&"+,-"3D(B'-&")*-&,O"U,%&"+''"%&"ED12-"D??%+%'(O"
<2I," D" I'(+%(2D1" ED12-" D??%+%'(" D+" -DI," I-(+*-" ')" -I'('3%I" DI+%E%+@" ID(" >-"
DI,%-E-?"'(1@"/,-("+,-@"D*-"%(+-*I'((-I+-?G">@"*'D?G"*D%1G"/D+-*/D@&"'*"D%*O"_'*"%(&+D(I-G"
-f'+%I" )1'/-*&"3D@",DE-"+'">-" )1'/(" %(">@"D%*" +'")-+I,"+,-">-&+"A*%I-O"U,-*-"/D&"D"+%3-"
/,-(" aD&3%(-" )1'/-*&" )*'3"0D?2*D%" 2&-?" +'" >-" )1'/(" %(+'"J-1,%" " )*'3" "0D?*D&" M('/"
H,-((D%N"">@""+,-""3'*(%(B""8(?%D("#%*1%(-&")1%B,+"+'">-"&'1?"%("J-1,%Y&"H'((D2B,+""41DI-s"
<2I,"A,@&%ID1" +*D(&A'*+D+%'("&@&+-3&"D*-"D"AD*+"')" +,-"-(D>1%(B" %()*D&+*2I+2*-O"
.D+2*D11@G">2&"'*"+*2IC"&+D+%'(&G"*D%1/D@"&+D+%'(&G"D%*A'*+&"D(?"A'*+&"M"I'D&+D1"D(?"%(1D(?"N"
D*-" D1&'" D" AD*+" ')" +,-" %()*D&+*2I+2*-O" #&" >-++-*" D(?" >-++-*" +-I,('1'B%-&" D*-" ?-A1'@-?" %(
=!\"
+,-&-" %()*D&+*2I+2*-" &-I+'*&G" +,-@" ID(" A*'E%?-" %3A*'E-?" &-*E%I-&O" h9-++-*Y" 3-D(&" ('+"
3-*-1@",DE%(B"D"B''?"*'D?"/%+,'2+"A'+,'1-&s"W,-("B''?&"3'E-">@"+*2ICG"A*-I%'2&",'2*&"
D*-" 1'&+" D+" I,-ICA'%(+&" D(?" /-%B,%(BcA'&+&O" U,-" ,'2*&" &A-(+" %(" +,-&-" A'&+&" D*-" *-D11@"
(-BD+%E-"ED12-"D??%+%'(&O"8("D??%+%'(G""&'3-""')""+,-""?-1D@&""1-D?""+'""1'&&""')""b2D1%+@""')"
DB*%A*'?2I+&" '*" -E-(" ?-ID@O" #I+%E%+%-&" D+" &2I," I,-ICA'%(+&" ID(" >-" &A--?-?" 2A"
+*-3-(?'2&1@"+,*'2B,"2&-"')"-1-I+*'(%I"D%?&""""""""&2I,""D&""-1-I+*'(%I""/-%B,%(B""3DI,%(-&G"
I'3A2+-*&""D(?"-1-I+*'(%ID11@"I'(+*'11-?"&%B(D1&"D(?"?%&A1D@&O"8(?%D(&",DE-"D"*%B,+"+'",DE-"
B''?" *'D?&G" b2%IC" I1-D*%(B" )DI%1%+%-&" D(?" )*--?'3" )*'3" ?D%1@" A%(A*%IC&O" 0'?-*("
+-I,('1'B%-&"ID("3DC-"+,%&"""""",DAA-(O"#+"D11"1-E-1&"/-",DE-"+'"?*-D3"D(?"/%11"+,D+"8(?%D"
&,D11",DE-"&2I,"&@&+-3&g"/-",DE-"+'"I,D(B-"'2*"3%(?&-+g"D(?G"D&" %3A'*+D(+G"I,D(B-"+,-"
'>&'1-+-"D?3%(%&+*D+%E-"D(?"1-BD1"&@&+-3&O"
W-",DE-" 1''C-?"D+" +,-" %3A'*+D(+" %()*D&+*2I+2*D1"-1-3-(+&"')" %(+-*(D1"I'((-I+%E%+@^"
*'D?G"*D%1"D(?"DE%D+%'(O"92+" %("D??%+%'("" +'"3'E%(B"B''?&"/%+,%("8(?%D"/-"(--?"+'"3'E-"
+,-3"+'"'+,-*"1D(?&"D&"-fA'*+&"D(?"+'"*-I-%E-"B''?&"D&"%3A'*+&")*'3"'+,-*"I'2(+*%-&O"4'*+&"
D*-"I*2I%D1")'*"+,%&"DI+%E%+@O"8("D(I%-(+"+%3-&G"8(?%D("A'*+&"D++*DI+-?"3D(@"+*D?-*&^"#*D>&G"
4-*&%D(&G" 6*--CG" H,%(-&-G" 4'*+2B2-&-" D(?" 3D(@" '+,-*" 52*'A-D(&O" 8(?%D(" +*D?-*&" D1&'"
+*DE-11-?" 'E-*&-D&O" 0'&+" ')" '2*" A'*+&" +'?D@" ,DE-" ('+" C-A+" 2A" /%+," +,-" +-I,('1'B%ID1"
I,D(B-&" +DC%(B" A1DI-" %(" +,-" *-&+" ')" +,-" /'*1?O" 02I," &3D11-*" I'2(+*%-&" 1%C-" <%(BDA'*-"
,D(?1-"32I,"3'*-" ED12-" D??-?" +*D?-" %(" +,-%*" A'*+&"/,%I," D*-" I'3A2+-*%d-?" D(?"/,-*-"
3D(@" 'A-*D+%'(&" D*-" D2+'3D+-?O" :2*" A'*+&" D*-" I'(&%?-*-?" E-*@" &1'/" %(" I'3AD*%&'(O" 8)"
+,-@" D*-" ('+" 2AB*D?-?" " 8(?%D"/%11" >-I'3-" %**-1-ED(+" D&" D" +*D?%(B" I'2(+*@O"R-(I-G" A'*+&"
)'*3"D"E-*@"%3A'*+D(+"-1-3-(+"')"%()*D&+*2I+2*-O"
9'+," " ?'3-&+%I" " D(?" " B1'>D1" " -I'('3%I" " D(?" " A,@&%ID1" I'((-I+%E-&" M+,*'2B,"
*'D?G"*D%1G"D%*I*D)+G"A'*+&"D(?"D%*A'*+&"N"?-A-(?"E%+D11@"'("+-1-I'332(%ID+%'("(-+/'*C%(BO"
8(&+D(+"+*D(&)-*"')"%()'*3D+%'("%&"-&&-(+%D1")'*"D(@">2&%(-&&"+'?D@O"
U-1-B*DA,"D(?"*D?%'"'(I-"BDE-"D"B*-D+")%11%A"+'"&A--?%-*"I'332(%ID+%'(O"U,-("ID3-"
+,-" +-1-A,'(-O" .'/D?D@&" &D+-11%+-&G" )%>*-" 'A+%I" ID>1-&" D(?" '+,-*" %3A*'E-?" )'*3&" ')"
/%*-1-&&"I'332(%ID+%'("D(?G"3'*-"%3A'*+D(+1@G" %3A*'E-3-(+&" %("3%I*'c" -1-I+*'(%I&"
D(?"I'3A2+-*&"D(?"*-E'12+%'(%d-?"+,-"/D@"/-"&--C"D(?"-fI,D(B-"%()'*3D+%'(O"U,'2&D(?&"
')" +'(-&" ')" ?%))-*-(+" C%(?&" ')" ID*B'" D(?" +,-%*" 3'E-3-(+" ID(" >-" 3'(%+'*-?" D13'&+"
%(&+D(+D(-'2&1@G" +,D(C&" +'" +,-" D?ED(I-&" %(" I'332(%ID+%'(&" " " " " " " " " D(?" %()'*3D+%'(
==K"
+-I,('1'B@"M"8U"NO"U,2&"+-1-I'332(%ID+%'(&"D(?"8U"D*-"+/'"')"+,-"3'&+"I*%+%ID1"-1-3-(+&"
')"+,-"3'?-*("-I'('3@O""U,D+"""%&"""+,-""*-D&'(""/,@""3D(@""I'2(+*%-&""D*-""I'(I-(+*D+%(B"
'("D".D+%'(D1"8()'*3D+%'("8()*D&+*2I+2*-"M.88"N"""""""D(?"1%(CDB-&"+'"+,-"61'>D1"8()'*3D+%'("
8()*D&+*2I+2*-"M688"NO"
U,-&-" %()*D&+*2I+2*-&" D(?" *-1D+-?" +-I,('1'B%-&" D(?" &-*E%I-&" D*-" -E'1E%(B" &'"
*DA%?1@" D&" +'" )'*3" D" I'3A1-+-1@" ?%))-*-(+" /'*1?" %(" +,-3&-1E-&O" <'3-" ID11" %+" D" E%*+2D1"
/'*1?O":)" I'2*&-G" /-" ID(('+" " -D+" '*" ,DE-"3D(@" '+,-*" A,@&%ID1" I'3)'*+&" %(" +,-" E%*+2D1"
/'*1?O"92+" +,%&" E%*+2D1"/'*1?" I*-D+-?">@" 8U" ,D&" >-I'3-" D&" *-D1" D&" +,-" *-D1"/'*1?" %(" D11"
DI+%E%+%-&^" DB*%I21+2*-" +'" ,-D1+," +'" -?2ID+%'(" +'"3D(2)DI+2*%(B" +'" &-I2*%+@O" 8(?%D" ID(('+"
D))'*?"+'"%B('*-"+,%&"(-/1@"-3-*B%(B"D*-DO":(-" %&",DAA@"+'"('+-"+,-"&%B(%)%ID(+"(D+%'(D1"
*-&'1E-"+'"3DC-"8(?%D"D"3Da'*"8U"A'/-*O"
#11" +,-" D>'E-" ?-A-(?" I*2I%D11@" '(" -(-*B@" D(?" -&A-I%D11@" +,-" D&&2*D(I-" ')"
b2D1%+@"-1-I+*%I"A'/-*"+'"D11"8(?%D(&"D(?")'*"D11"&-I+'*&"')"-I'('3%I"DI+%E%+@O"<'3-+%3-&"
'(-"/'(?-*&"/,-+,-*"/-"ID(",DE-"&2I,"D"E%&%'("D+"D11s"R'/"3D(@"A'/-*"I2+&"A1DB2-?"2&"
/,%1-"/-"/*'+-"+,%&" >''Cs"R'/"3D(@" +%3-&" +,-" I'3A2+-*&"/-*-"?'/(s"0D(@" %("J-1,%"
+'1?"3-"D)+-*"+,-"&2II-&&)21"(2I1-D*"+-&+&G"h<%*G"/,-("/%11"J-1,%">-"/%+,'2+"A'/-*"I2+&eY"
U,-"A*'>1-3G"')"I'2*&-G"%&"(D+%'(/%?-O"U,-"&%+2D+%'("(--?&"+'">-"I,D(B-?"*D?%ID11@"%)"/-"
D*-"+'"*-D1%d-"+,-"E%&%'("')"D"?-E-1'A-?"8(?%DO!"6F;>=1;6=>!D6!D6JB0>=B-7=-B;"
U,-" "DBB*-BD+-" " 1-E-1" "')" " %(E-&+3-(+" " %()*D&+*2I+2*-" " %(I*-D&-?" )*'3" "D>'2+" "X&O"
]KKK""I*'*-&" " %(" "!\VKcV!" " +'" "D>'2+" "X&O"=\KKK"I*'*-&" %("!\\Kc\!""D(?"" +'" "D>'2+" "X&O"
QKKKK" " I*'*-&" " %(" " !\\Tc\QO" #&" " D" " A*'A'*+%'(" " ')" " 6J4G" " +,-" " %(E-&+3-(+&" " %("
%()*D&+*2I+2*-" *D(B-?" )*'3" D>'2+" TOQ" A-*" I-(+" +'" ]" A-*" I-(+O" :)" +,-" +'+D1" D((2D1"
%(E-&+3-(+&"%("+,-"I'2(+*@"D>'2+"=Q"A-*"I-(+"D*-"%("%()*D&+*2I+2*-"A*'a-I+&O"8+"%&"-&+%3D+-?"
+,D+"+,-" %(E-&+3-(+&" %(" %()*D&+*2I+2*-"?2*%(B"!\\Lc=KK="3D@">-"D>'2+"X&OQKKKKK"I*'*-&"
D(?"D>'2+"X&OLQKKKK"I*'*-&"?2*%(B"+,-"(-f+")%E-"@-D*&O"
_%B2*-&"')" +,%&"3DB(%+2?-"3D@"&--3" %(+%3%?D+%(B">2+" +,-"+*2+," %&" +,D+" )'*"D11"
+,-" %(-))%I%-(I%-&" ')" D?3%(%&+*D+%'(" D(?" -E-(G" '(-" 3%B,+" &D@G" D" I-*+D%(" 1DIC" ')"
I'33%+3-(+"+'"3DC-"+,%&"D"B*-D+"(D+%'(G"'2*"-I'('3@",D&"B*'/("+'",2B-"A*'A'*+%'(&O"
U,-"&,D*-"')" +,-" *D%1/D@&" ,D&" >--("'(1@"D>'2+"KO]"A-*"I-(+"')" +,-"6J4"D(?" ,D&"
*-3D%(-?"&+DB(D(+"'E-*"?-ID?-&O"U,-*-"%&"D"B*-D+"(--?"+'"%(I*-D&-"%+">-ID2&-"*D%1/D@&"D*-"
D(" -f+*-3-1@" -(-*B@" -))%I%-(+" 3'?-" ')" I'332(%ID+%'(O":)" 1D+-" +,-" (23>-*" ')" *D%1/D@
==!"
DII%?-(+&" %&" %(I*-D&%(B"D(?" %+"D1&'"DAA-D*&" +,D+"3'&+" 1%(-"-fAD(&%'("A*'a-I+&"D*-"3'E%(B"
E-*@"&1'/1@O"U,-*-"D*-"D"(23>-*"')"+-I,('1'B%-&")'*",%B,c&A--?"+*D%(&"/,%I,"D*-"A'&&%>1-"
D(?",DE-">--("+D1C-?"')"D+"ED*%'2&" )'**DO" 8+" %&"-&&-(+%D1" +'"3'?-*(%d-"3D(@"AD*+&"')"'2*"
*D%1/D@" +*DIC&G" &%B(D1%(B" &@&+-3" D(?" -E-(" )DI%1%+%-&" )'*" AD&&-(B-*" I'3)'*+&O" _'*" +,-"
3'E-3-(+" ')" B''?&G" %+" %&" A'&&%>1-" +'" ,DE-" 321+%3'?D1" I'(+D%(-*&G" +,D+" %&G" I'(+D%(-*&"
/,%I,"D*-"&+D(?D*?")'*"*D%1/D@&G"*'D?&G"&,%A&"'*"D%*I*D)+O"8(E-&+3-(+&"%("*'D?"+*D(&A'*+"D(?"
/D+-*/D@&" ,DE-" *D(B-?" >-+/--(" !OP" +'" !O]" A-*" I-(+" ')" 6J4O" 8(E-&+3-(+" %("
-1-I+*%I%+@",D&">--("'("+,-"DE-*DB-"D>'2+"=OQ"A-*"I-(+"+'"KOV"A-*"I-(+"')"6J4O"R'/"?'"/-"
%(I*-D&-"+,-&-"*DA%?1@"%&"+,-"b2-&+%'(O"
:(-" /D@" %&" +'" %(I*-D&-" 6J4O" 92+" /%+,'2+" %3A*'E%(B" %()*D&+*2I+2*-" 6J4"
ID(('+" B*'/s" W%+,'2+" %(E-&+3-(+&G" *'D?&" '*" -1-I+*%I" A'/-*" '*" +-1-I'332(%ID+%'(&" '*"
A'*+&"ID(('+"I'3-"2AO"J'-&" +,D+"A2+"2&" %("D"ID+I,c=="&%+2D+%'(e".'+"*-D11@O" " "U,-*-"D*-"
3D(@"A*%ED+-" %(E-&+'*&" %(" 8(?%D"D(?" D>*'D?"/,'"/'21?" >-" *-D?@" +'" %(E-&+%BD+-"A*'a-I+&"
+,D+"/'21?" @%-1?" " *-+2*(&"'E-*"D" 1'(B"A-*%'?O" 8+" %&"(-I-&&D*@" +'"D++*DI+" +,-3" +'" %(E-&+" %("
+,-&-"A*'a-I+&O"<%(I-"!\\!G"+,-"B'E-*(3-(+",D&">--(""""""""B*D(+%(B"&-E-*D1"I'(I-&&%'(&"+'"
D++*DI+" +,-3O"92+"32I,"')" +,%&" %(E-&+3-(+" ,D&" I'3-" %(" >%+&" D(?" A%-I-&O" <'3-"')" +,-&-"
%(E-&+'*&",D?"2(*-D1%&+%I"D&&23A+%'(&O".-E-*+,-1-&&G"A*%ED+-"%(E-&+'*&"?'"&--C"A*')%+O"8+"%&"
(-I-&&D*@" +'"D&&2*-" +,-3"')" *-D&'(D>1-"A*')%+&"D(?"+'"B%E-" +,-3"I'E-*" )'*"I-*+D%(" *%&C&O"
U,-"B'E-*(3-(+" ,D&" " " " " " " " +'" -(&2*-" +,D+" +,-" 1'(Bc" +-*3" %(+-*-&+&"')" +,-" I'2(+*@" '*" +,-"
A2>1%I" D*-" ('+" 2(?21@" I'3A*%&-?O" H'(&%?-*%(B" +,-" )DI+" +,D+" +,-" ?-E-1'A3-(+" ')"
%()*D&+*2I+2*-"%&" %(+-B*D1" +'"&A--?@"-I'('3%I"B*'/+,c+,-"'(1@"/D@"'2*"A-'A1-"ID(">*-DC"
'2+"')"I-(+2*%-&"')"A'E-*+@c+,-"I'2(+*@",D&"+'"1-D*("+'">-"%(('ED+%E-"%("'))-*%(B"ADICDB-&"
/,%I,"/%11"D++*DI+"%(E-&+3-(+&O"
8(E-&+'*&"I'3A1D%("+,D+"+,-"AD+,"+'"%(E-&+3-(+"%&"*%??1-?"/%+,"+%3-cI'(&23%(B"
A*'I-?2*-&O"U,-"'(1@"/D@" +'"A2+" %("A1DI-"D++*DI+%E-"A'1%I%-&"D(?"3DC-" +,-3"/'*C" %&" +'"
&%3A1@"A*'I-?2*-&O"U,-"D2+,'*&"D*-"('+"2(D/D*-"')"+,-"ED*%'2&"E-&+-?"%(+-*-&+&"+,D+",DE-"
>--(" >2%1+"2A"'E-*" +%3-O"0D(@" %(" 8(?%D" >-1%-E-" +,D+" " " " " " " " )*'3" +,-" 1'/-*3'&+"I'2(+-*G"
/,%I,"B%E-&"+,-"%3A'*+D(+"DAA1%ID+%'(")'*3&"/,%I,"+,-"B'E-*(3-(+"*-b2%*-&"+'">-")%11-?G"
+'" +,-" ,%B,-&+" 1-E-1&" +,-*-" D*-" D" 1D*B-" (23>-*" ')" DE-(2-&" +'" I'(E-*+" h" D2+,'*%+@" Y" %(+'"
3'(-@O"W-" >-1%-E-" D" ID11" )'*" D" (-/" E%&%'(" )'*" 8(?%D" /%+," D" ,%B,-*" D%3" D(?" &%(I-*%+@G"
*-&21+%(B" %(" a'>&" )'*" D13'&+" -E-*@'(-G" D(?" /%+," +,-" 3DC%(B&" ')" D" 3'E-3-(+G" /'21?
==="
*-3'E-"3D(@"')" +,-"A*-&-(+"I'>/->&O"8("A*-c%(?-A-(?-(I-"8(?%DG" 8(?%D(&"/-*-"D)+-*"D11"
'(1@"E%-/-?"D&")%B,+%(B"/%+,"-DI,"'+,-*"'E-*"ID&+-G"*-1%B%'(G"1D(B2DB-"D(?"3'*-O"J%?"+,-"
A-'A1-"('+"a'%("D"B*-D+"3'E-3-(+"/%+,'2+"D(@"B2(&"'*"D*3&"+'"?%&1'?B-"D"3%B,+@"-3A%*-e"
H'3%(B" >DIC" DBD%(" +'" +,-" %(E-&+3-(+" b2-&+%'(G" -E-(" /,%1-" A*%ED+-" &-I+'*"
%(E-&+3-(+"/%11">-"-&&-(+%D1"+'">2%1?"2A"%()*D&+*2I+2*-G"+,-"B'E-*(3-(+",D&"+'"%(E-&+"+''O"
5&+%3D+-&" %(?%ID+-" +,D+" +,-" )2(?&" *-b2%*-?" +'" %3A*'E-" +,-"-f%&+%(B" (D+%'(D1" ,%B,/D@&"D&"
/-11" D&" +'" -fAD(?" +,-3" /'21?" >-" D>'2+" X&O" !QKKKK" I*'*-&O" U,-" A*%ED+-" &-I+'*" I'21?"
I'(+*%>2+-"D"A*'A'*+%'(G">2+"+,-"*-3D%(?-*"/%11",DE-"+'"I'3-")*'3"+,-"B'E-*(3-(+"M">'+,"
I-(+*D1"D(?"+,-"&+D+-&"NO"92+",-*-"/-"(--?"+'"b2-&+%'("/,-+,-*"3'&+"')"+,-")2(?&"%(?%ID+-?"
D*-" *-D11@" *-b2%*-?O" <'3-" D&&23A+%'(&" (--?" +'" >-" *-c-fD3%(-?^" &,'21?"/%?-(%(B" ')" D("
-f%&+%(B"*'D?")*'3"&%(B1-"1D(-"+'"?'2>1-"1D(-"I'&+"D>'2+"X&OQK"1DC,"A-*"C%1'3-+*-e"#(?"%&"
+,-" &D3-" D3'2(+" DBD%(" (--?-?" )'*" %3A*'E%(B" +,-" ?'2>1-" 1D(-" ADE-3-(+&" ')" -f%&+%(B"
*'D?&e" <,'21?" +,-" I'&+" ')" /%?-(%(B" ?'2>1-" 1D(-&" +'" )'2*" >-" D>'2+" X&O" =QK" 1DC," A-*"
C%1'3-+*-e" <,'21?" D" (-/" -fA*-&&/D@" I'&+" X&O" VKK" 1DC," A-*" C%1'3-+*-e" W-" D*-" ('+"
b2-&+%'(%(B"+,-"IDAD>%1%+@"')"'2*"-(B%(--*&"D(?"DII'2(+D(+&O"<2I,"-&+%3D+-&"D*-"/'*C-?"
'2+"&%(I-"('>'?@"/D(+&"+'">-"DII2&-?"')"('+"2&%(B"3D+-*%D1&"')"D"AD*+%I21D*"&+D(?D*?G"-E-("
/,-(" +,%&" %&" ('+"-fDI+1@" *-1-ED(+O"U,-*-)'*-"D" 1'+"')" h"AD??%(B" Y" ,D&" >--(">2%1+" %(+'" +,-"
&@&+-3"'E-*"+,-"@-D*&O"
8+"%&"+%3-"+,D+"+,-&-">D&%I&"D*-"b2-&+%'(-?"D(?"&'3-"%(('ED+%E-"3-+,'?&"D*-"2&-?"
D+"1-D&+"%("+,-"&,'*+"*2(G"&D@")%E-"+'"&-E-("@-D*&O"8("3D(@"D*-D&"/,-*-"+,-*-"D*-"('"*'D?&"'*"
+-**%>1-"*'D?&G"&'3-"%3A*'E-3-(+"%&"32I,">-++-*"+,D("('"%3A*'E-3-(+"D/D%+%(B"&D(I+%'("
')" ,2B-" >2?B-+&O" <'3-" h" &+D(?D*?&" Y" ID(" >-" *-1Df-?^" &'3-" %(('ED+%E-"3-I,D(%&3&" )'*"
*-?2I%(B"I'&+&"ID(">-"-fA-*%3-(+-?"/%+,"I'2(+*@/%?-O"F-+"2&"('+"/D%+")'*"&'3-"&A-I%D1"
/%&?'3" +'"-3D(D+-" +,-" IDA%+D1&O5E-("/%+,"D11" +,-&-" &+D(?D*?&" %(" A1DI-G" ,D&" +,-" I'2(+*@"
DI,%-E-?" /,D+" %+" /D(+&e" W-" '2B,+" ('+" +'" >-" D)*D%?" ')" &'3-" %(%+%D1" 1'/" A-*)'*3D(I-"
*-&21+%(B" )*'3"-3A'/-*%(B"ED*%'2&" )2(I+%'(D*%-&" %("?%))-*-(+"AD*+&"')" +,-"I'2(+*@O"U,-@"
I'21?I'(&21+"A2>1%Ic&A%*%+-?"I%+%d-(&"D*'2(?"+,-%*"D*-D&"D(?",-1A"%("?-I%&%'("3DC%(BOU,-"
3-?%D" ,D&"D" &A-I%D1" *'1-" +''O" 8(&+-D?"')"'(1@" -3A,D&%d%(B" )D%12*-&" D(?" ,'**'*&G1-+" +,-3"
D1&'"A1D@"2A"D"
)-/" &2II-&&g&'3-"')" +,-3"/%11" &-*E-" D&" *'1-"3'?-1&" )'*"'+,-*&" +'" )'11'/OF-+" 2&" &A*-D?"
,'A-g1-+" 2&" /'*C" /%+," ?-+-*3%(D+%'(OU,-" *-D&'(" 8" D3" -3A,D&%d%(B" +,-&-" D&A-I+&" %&
==P"
&%3A1-O8(?%D"ID("1D2(I,"%+&-1)"%(+'"D"?-E-1'A-?"&+D+2&"'(1@"/,-("+,-"-I'('3%I"3DI,%(-*@"
&+D*+&"h*-D1"3'E-3-(+Y" +,*'2B,"+,-" %()*D&+2I+2*-O'(I-"+,-"3DI,%(-*@"3'E-&G" +,-"A*'I-&&"
')"-I'('3%I"B*'/+,"/%11"I*-D+-"3'*-"3'(-@"%("D>'2+")%E-"+'"&-E-("@-D*&O"U,D+"3'(-@"ID("
>-"*-%(E-&+-?"%(")%*+,-*"%3A*'E-3-(+&O"U,'&-"')"
+*D?%+%'(D1"+,%(C%(B"3D@")%(?"+,%&"?%))%I21+"+'"DII-A+O92+"1-+"2&"1-D*("+,-"1-&&'(&"')"+,-"AD&+"
)%)+@"@-D*&OU,-"A''*"A-'A1-"ID(('+""/D%+")'*"D"/,'1-"3%11-((%23"+'"AD&&"+'",DE-"D">-++-*"
D(?"3'*-"&-I2*-"1%E%(BO8)"D"*-D&'(D>1-"%()*D&+2I+2*-"%&"%("A1DI-G'2*"
%(('ED+%E-"A-'A1-"/'21?")%(?"DE-(2-&"+'"D">-++-*"1%)-O0'(-@"%("+,-",D(?&"')"'2*",2(?*-?&"
')"3%11%'(" 8(?%D(&"I'(&+%+2+-&"D",2B-"3D*C-+OW,%1-" +,-"=QK"3%11%'(" 8(?%D("3%??1-"I1D&&"
3D@"D&A%*-")'*")'*-%B("B''?&G+,-"8(?%D(&">-1'/"+,-"A'E-*+@"1%(-"
/'21?">-"E-*@",DAA@"/%+,"8(?%D("B''?&O8(")DI+" %+" %&"+,-"8(?%D("%(?2&+*%D1%&+&"/,'"?'"('+"
(-I-&&D*%1@" ,DE-" 3Da'*" -fA'*+" D3>%+%'(&" " /,'" &,'21?" &A-D*,-D?" +,-" 3'E-3-(+"
I'(E-*+%(B"+,-&-"LQK"3%11%'("%(+'"D"(-/",2B-"3D*C-+O:(I-"+,-@">-I'3-"D")'*I-G"
8(?%D"/%11">-"D">%11%'(cA12&"3D*C-+"+,D+"/%11"D++*DI+"+,-"/,'1-""/'*1?s"8+"/%11">-"?%))%I21+"+'"
1''C"D+"?-+D%1&"')"D11"+,-"&-I+'*&"')"8()*D&+2I+2*-OF-+"2&"-fD3%(-"D"-/O_%*&+G+,-"-1-I+*%I%+@"
&-I+'*"W,%I,"%&"&'"I*2I%D1O!
a-0.D=G!;.;7=BD7!A9:;B!J9B!0..".'" (D+%'(" ID(" D&A%*-" +'" >-" 3'?-*(" D(?" ?-E-1'A-?" /%+,'2+" +,-" DED%1D>%1%+@" ')" b2D1%+@"
A'/-*" )'*" D11O.'" 3'?-*(" 3DI,%(-*@" ID(" *2(" /%+,'2+" 2(%(+-**2A+-?" D(?" b2D1%+@" A'/-*"
&@&+-3&OU,-"/,'1-"3DB%I"/D(?"')"8()'*3D+%'("U-I,('1'B@OM8UN/%11">-"D+"
(D2B,+" %)"+,-*-"%&"('"-1-I+*%I"A'/-*O"83DB%(-".-/"S'*C"'*"1'(?'("'*"U'C@'",DE%(B"a2&+"
'(-"?D@"/%+,'2+"A'/-*"'*"D"/--C"')"%(+-**2A+-?"A'/-*"&2AA1@O"8+"a2&+"ID(('+",DAA-(O"8)"%+"
?%?G"8+"I'21?">*%(B"?'/("+,-"B'E-*(3-(+O"W,-("/-"1''C"D+"+,-"A'/-*"&%+2D+%'("%("8(?%DG"
h?-A*-&&%(BY"'*"hB1''3@Y"DAA-D*"+'">-"3%1?"/'*?&"+'"?-&I*%>-"%+O"R2(?*-?&"')"+,'2&D(?&"
')""A*-I%'2&",23D(",'2*&"D*-"1'&+">-ID2&-"')""1DIC"')"b2D1%+@"-1-I+*%I"A'/-*M('+"+'"+D1C"')"
3D(@"'+,-*&"/,'",DE-"('+">--("I'E-*-?">@"-1-I+*%I%+@"D+"D11sNO#+"D"+%3-"/,-("-b2%A3-(+"
3'?-1&" I,D(B-" &'" *DA%?1@G" D(" %(E-&+'*" /'21?" /D(+" +'" '>+D%(" +,-" 3Df%323" D?ED(+DB-"
)*'3"D"AD*+%I21D*"C%(?"')"-b2%A3-(+G"-E-("/%+,"+,*--"&,%)+&O"92+"+,-"b2D1%+@"')"'2*"A'/-*"
&2AA1@" ')+-(" 3DC-&" &'A,%&+%ID+-?" -b2%A3-(+" 1%-" " %?1-" )'*" ,'2*&O"U,'&-"/,'"3D(DB-" +'
==T"
I'(+%(2-"A*'?2I+%'("?'"&'">@"%(E-&+%(B"%("-1-I+*%I"&2AA1@"*-B21D+'*&"D(?"D"&+D(?>@"A'/-*"
&@&+-3O"W,D+"D"/D&+-"')"
A*'?2I+%E-"IDA%+D1"*-&'2*I-&s"8(?%DY&",@?*'-1-I+*%I"A'/-*"A1D(+"')"!PK"0W"/D&"
H'33%&&%'(-?"(-D*"JD*a--1%(BG"W-&+"9-(BD1G" %("!V\LO"#+"+,-"U%3-"')" %(?-A-(?-(I-"+,-"
&23"')"%(&+D11-?"IDADI%+%-&"D+"ED*%'2&"4'IC-+&"/D&"D>'E-"!PPK"0WO"#"+-()'1?"%(I*-D&-"%("
)%E-"?-ID?-&s"U,-"A*-&-(+" %(&+D11-?"A'/-*"B-(-*D+%'("IDADI%+@" %&"D>'2+"VQKKK"0WG"'*"D"
&%f+@c)%E-" )'1?" %(I*-D&-" %(" )%E-" ?-ID?-&O" U,-" A'/-*" +*D(&3%&&%'(" &@&+-3" /,%I," &+D*+-?"
/%+,"LV";$",D&"('/"3D+2*-?"+'"TKK";$"B*%?&"D(?"QKK";$"R$JH"M,%B,"E'1+DB-"?%*-I+"
I2**-(+N"&@&+-3&")'*">21C"A'/-*"+*D(&)-*O"X-I-(+1@"'(-"')"'2*"3Da'*"(D+%'(D1"1D>'*D+'*%-&"
%("-1-I+*%I"A'/-*"+-I,('1'B@G"+,-"H-(+*D1"4'/-*"X-&-D*I,"8(&+%+2+-"MH4X8N"/%+,"%+&"3D%("
FD>'*D+'*@"D+"9D(BD1'*-G",D&"+-&+cI,D*B-?"D"!QKK";$"R$JH"1%(-O"U,-",%B,-*"+,-"E'1+DB-"
')"+*D(&3%&&%'("%("?%*-I+"I2**-(+"+,-"1-&&"+,-"+*D(&3%&&%'("1'&&-&O"8("+,-")2+2*-"/-"(--?"+'"
,DE-" 3D(@" R$JH" 1%(-&O" 51-I+*%I" " A'/-*" ?%&+*%>2+%'(" /,%I," ,D?" '(1@" D" )-/" I%*I2%+"
C%1'3-+-*&"D+"+,-"+%3-"')" %(?-A-(?-(I-",D&"('/"*-DI,-?"D"1-(B+,"')"(-D*1@"=VKK"3%11%'("
I%*I2%+"C%1'3-+-*&O"
U,-&-")%B2*-&"D*-"%3A*-&&%E-"%("+,-3&-1E-&O"W-"*-3-3>-*",'/"/-"&+2?%-?"D(?"?%?"
'2*",'3-/'*C">@"+,-"1%B,+"')"C-*'&-(-"1D(+-*(&"?2*%(B"'2*"&I,''1"?D@&O"_*'3"+,-*-"%+"%&"D"
&-D" I,D(B-s92+" %&" %+" -('2B,"'*" D?-b2D+-e"F-+" 2&" 1''C" D+" I,%(D^%(" +,-" " !\QK&" 8(?%D" D(?"
I,%(D",D?" *'2B,1@" +,-" &D3-" %(&+D11-?"A'/-*"IDADI%+@O".'/"I,%(D",D&"D>'2+" +,*--" +%3-&"
3'*-"%(&+D11-?"IDADI%+@"+,D("8(?%Ds"_2*+,-*G"I,%(D",D&">--("I'(&%&+-(+1@"D??%(B"D"IDADI%+@"
')"D>'2+"!QKK"0W"D"@-D*")'*"&-E-*D1"@-D*&"('/"/,-*-D&"'2*"IDADI%+@"%&"B*'/%(B"D+"D"*D+-"
')"=QKK"0W"A-*" @-D*O"W,@" %&" +,%&" &'e" 8&" %+" >-ID2&-"')" 1DIC"')" )2(?&e"W-">-1%-E-" +,D+"
3Da'*"A*'>1-3">-)'*-"+,-"(D+%'(" %&" +,D+"/-",DE-"/-",DE-"&+'AA-?"+,%(C%(B">%Bs"W-"D*-"
-%+,-*"B-++%(B">'BB-?"?'/("%("
A-++@" ?-+D%1&G" A*'3%&-&G" D(?" %(" A'1%+%ID1" BD3-&O" U,-" 1D++-*" %&" ('+" 3-*-1@" 1%3%+-?" +'"
A'1%+%I%D(&" >2+" ,D&" D1&'" &A*-D?" +'" &-E-*D1" '+,-*&" %(" +,-" >2*-D2I*DI@G" +-I,('I*DI@" D(?"
%(?2&+*@O" U,-" 3'3-(+" /-" &%(I-*-1@" +,%(C" >%B" D(?" &+D*+" /'*C%(B" ,D*?G" /-" ID(" )%(?"
&'12+%'(&O"0'&+" 8(?%D(" A-'A1-" *-&A'(?" /,-(" +,-*-" %&" D" 1-D?G" D(?" /,-(" +,-*-" %&" D" ID11"
>-)'*-"+,-3OW-"?'"('+"/D(+"+'"B'"%(+'"+,-"?-+D%1&"')"-))%I%-(I@"')"2+%1%dD+%'("')"-E-("+,-"
-f%&+%(B"IDADI%+%-&G"-fA*-&&-?"D&"A1D(+" 1'D?")DI+'*"M4F_NO"W-"D*-"D+"D>'2+"]K"A-*"I-(+"D&"
DBD%(&+"VK"A-*"I-(+")'*"<'2+,";'*-DO"U,-"*-D&'(&"D*-"3D(@O"92+"+,-"&+D*C")DI+" %&" +,D+"')
==Q"
+,-"%(&+D11-?"IDADI%+@"')"D>'2+"VQKKK"0WG"'(1@"D>'2+"P=KKK"0W"*-DI,-&"+,-"I'(&23-*G"
+,D+"+''"('+"/%+,'2+" %(+-**2A+%'(&"D(?"'+,-*"ED*%D+%'(&" %("b2D1%+@O":2*" )%*&+"D(?" )'*-3'&+"
+D&C" %&" +'" *-I+%)@" +,%&" &%+2D+%'(g" %+" 3D@"3-D(" +,D+" '2*" &+D+-" -1-I+*%I%+@" >'D*?&" D(?" '+,-*"
B-(-*D+'*&" &,'21?" +DC-" ED*%'2&" &+-A&" D(?" D1&'" +DC-" D" 1''C" D+" +,-" +*D(&3%&&%'(" D(?"
?%&+*%>2+%'(" MUjJN" &@&+-3&O":2*"UjJ" 1'&&-&"D*-"D>'2+"=="A-*"I-(+"/,-*-D&"?-E-1'A-?"
/'*1?"&+D(?D*?&"D*-"D>'2+"L"+'"V"A-*"I-(+O"U-I,(%ID11@"D(?"3D(DB-*%D11@G"/-",DE-"+'")%(?"
&'12+%'(&OF-+"2&"('+"'E-*1''C"&2II-&&-&"-E-(" %("+,%&"B1''3@"&%+2D+%'(O7(I,D,D*" +,-*3D1"
A'/-*"&+D+%'("/D&"DIb2%*-?">@"+,-"(D+%'(D1"U,-*3D1"A'/-*"I'*A'*D+%'("M.U4HN")*'3"+,-"
B'E-*(3-(+" ')" 7++D*" A*D?-&,O" 4-*)'*3D(I-" /D&" %3A*'E-?" ?*D3D+%ID11@" >@" 2&%(B"
?->'++1-(-IC%(B"+-I,(%b2-&O"4*%'*" +'"+,-"+DC-'E-*" +,-"7(I,D,D*"&+D+%'(",D?"D"4F_"')"!V"
A-*"I-(+g"%("&%f"3'(+,&"+,-*-D)+-*"%+"/-(+"2A"+'PQOQ"A-*"I-(+"%("+/-1E-"3'(+,&"+'"LPOL"A-*"
I-(+s"U,-"DED%1D>%1%+@")DI+'*"/,%I,"/D&"=L"A-*"I-(+"D+"+,-"+%3-"')"+,-"+DC-"'E-*"/-(+"2A"+'"
T\OQ"A-*"I-(+"&%f"3'(+,&" 1D+-*"D(?"D>'2+"L\OQ"A-*"I-(+"D)+-*"+/-1E-"3'(+,&O"<A-I%)%I"'%1"
I'(&23A+%'(G"/,%I,"%&"D("%(?%ID+%'("')"/D&+DB-"D(?"%(-))%I%-(I@"')"'A-*D+%'(G"/,%I,"/D&"
D+"=!OV"3%11%'("1%+*-&"M08N""A-*"C%1'/D++",'2*"MC/,N"D+"+,-"+%3-"')"+DC-'E-*"/-(+"?'/("+'"
]OP"08"n"C/,"%("&%f"3'(+,&"D(?"POP"08"n"C/,"%("!="3'(+,&Ol+,-&-"?*D3D+%I"*-&21+&",DE-"
>--("'>+D%(-?"2(?-*"'*?%(D*@"'*"-E-("'AA*-&&%E-"I%*I23&+D(I-&G"D(?"?-&A%+-"+,-"D>&-(I-"
')"*-I'B(%+%'(">@"+,-"&@&+-3O"W,%1-"D"?D@Y&"A'/-*">*-DC?'/("'*"D("D2?%+"*-A'*+"'("?-1D@"
'*" -fI-&&%E-" A*'a-I+" I'&+&" ,%+&" ,-D?1%(-&G" ('>'?@" -E-(" >'+,-*&" +'" 3-(+%'(" " +,-&-"
DI,%-E-3-(+&" %("D"&3D11"I'123("')"D"(-/&"ADA-*O".'*"-E-("%&"&2I,"DI,%-E-3-(+&"+D1C-?"
D>'2+">@"A'1%+%I%D(&"'*">2*-D2I*D+&s"W-"?'(Y+"C('/"/,'"D*-"+,-",-*'-&"D(?",-*'%(-&"/,'"
3D?-"+,-&-"DI,%-E-3-(+&"A'&&%>1-"+,*'2B,"+-D3/'*Cs"
.'/"%3DB%(-"D"&%+2D+%'("/,-*-"/-"I*-D+-"D"(D+%'(D1"I1%3D+-"+'"+,%(C">%B"D(?"A*D%&-"
-E-*@"&3D11"&2II-&&"/,%I,"I'(+*%>2+-&"+'/D*?&"+,-">%B"B'D1"D(?"/,-*-"-E-*@"+-D3"/,%I,"
D++-3A+&"%3A*'E-3-(+"D(?"&2II--?&"%&"*-I'B(%d-?"(D+%'(D11@O"W,-("/-"
B%E-" +,-" +-D3&" D+" 1-D&+" +,-" D++-(+%'(" -b2D1" +'" +,D+" B%E-(" +'" 4*%+,E%G" DB(%G" %(&D+G" 4<F$G"
A'C,*D(" '*" +,D+"')" D"3Da'*" (D+%'(D1" '*" %(+-*(D+%'(D1" D/D*?" )'*" D(" -3%(-(+" &I%-(+%&+G"/-"
/%11",DE-"3Df%323"2+%1%dD+%'("')"-f%&+%(B"IDADI%+%-&"D&"A-*"?-E-1'A-?"I'2(+*@"('*3&O"F-+"
+,-"-1-I+*%I"A'/-*"&+D+%'(&"?'"%+"+,-3&-1E-&"'*"1-+"+,-3">-"+DC-("'E-*">@"A2>1%I"'*"A*%ED+-"
-(+%+%-&" +'"3DC-" +,%&" ,DAA-(O"W-"/'21?" -E-(" &D@" +,D+" 1-+" &'3-" -(+-*A*%&%(B" I'3AD(%-&"
)*'3" D(@/,-*-" +DC-" +,-3" 'E-*" +'" &-+" D(" -fD3A1-" ')" &+D(?D*?&G%)" +,-@" ID(" +*%BB-*" '2*
==]"
%(,-*-(+" A*%?-" D(?" 3'>%1%d-" %+" )'*" DI+%'(s" :)" I'2*&-G" -D*1@" -(DI+" %'(" ')" *-1-ED(+" 1-BD1"
3-D&2*-&"D*-"*-b2%*-?"+'"D11'/"A*%ED+-"D(?"1'ID1"%(%+%D+%E-&O"
<%3%1D*1@G" %3A*'E-3-(+&" %(" +,-" UjJ" &@&+-3&" *-b2%*-" A*%'*%+@" D++-(+%'(O" W%+," +,-"
A*-&-(+" 1-E-1"')" %(&+D11-?"IDADI%+@G"D(?"D&&23%(B" +,-@"/'*C"E-*@"-))%I%-(+1@"'("+,-" 1%(-&"
?%&I2&&-?"-D*1%-*G"-E-*@"!"A-*"I-(+" %3A*'E-3-(+"%("UjJ"1'&&-&"/'21?"3-D("DED%1D>%1%+@"
')"D("D??%+%'(D1"]KK"0W"+'"+,-"I'(&23-*O"#&"/-",DE-"?%&I2&&-?"-D*1%-*G"+,-*-"%&"&I'A-"+'"
>*%(B""?'/("+,-"+*D(&3%&&%'("1'&-&">@"D>'2+"!T"A-*"I-(+"%)"/-"I'(&%?-*"/'*1?"&+D(?D*?&O"
4D*+"')"+,%&",D&"+'">-"DI,%-E-?"+,*'2B,"*-I'(?2I+'*%(B"/%+,">-++-*"3D+-*%D1&G" %(&+D11D+%'("
')" &,2(+" IDADI%+'*&" '(" +,-" ?%&+*%>2+%'(" &@&+-3" +'" I'**-I+" A'/-*" )DI+'*&G" 2&-" ')" >-++-*"
+*D(&)'*3-*&G"2&-"')",%B,"E'1+DB-"?%&+*%>2+%'("&@&+-3&"M&%(B1-"A,D&-NG&@&+-3D+%I"A1D((%(B"
?2*%(B" +,-"D??%+%'("')" &2>c&+D+%'(&"D(?" 1%(-&G" D(?"AD*+1@" +,*'2B," " >-++-*"3D(DB-3-(+"+'"
DE'%?" A%1)-*DB-O" #11" +,-&-" D*-" /-11" /%+,%(" +,-" IDAD>%1%+%-&" ')" 8(?%D(" %(?2&+*%-&" D(?"
1D>'*D+'*%-&O"92+" +,-*-" %&" ('" &-(&-"')" 2*B-(I@" %(" +,-" -f-I2+%'(" ')" A*'a-I+&O" 8)" +,-"UjJ"
1'&&-&"D*-"I2+"?'/("+'"+,-"/'*1?"1-E-1G"D13'&+"D>'2+"LK"A-*"I-(+"')"+,-"A-DC"A'/-*"?-)%I%+"
/%11">-"/%A-?"'2+"D(?"+,-*-"
/%11" >-" ('" DE-*DB-" A'/-*" &,'*+DB-" /,%I," %&" -&+%3D+-?" +'" >-" D>'2+" !K" A-*" I-(+O" U,-"
-I'('3%I" D?ED(+DB-" %&" '>E%'2&^" +,-" I'&+" " ')" -&+D>1%&,3-(+" ')" D" !KKKK" 0W" A'/-*"
B-(-*D+%'("2(%+"I'21?"-D&%1@">-"X&O]KKKK"I*'*-&O"
U,-*-" ,D&" >--(" D(" 'E-*-3A,D&%&" '(" B-(-*D+%'(" *-1D+%E-" +'" +*D(&3%&&%'(" D(?"
?%&+*%>2+%'(O"#&"D"*-&21+"')"+,%&G"UjJ"1'&&-&"I'(+%(2-"+'">-",%B,O"5E-("%)"(-/"IDADI%+%-&"
D*-" D??-?G" +,-@" /%11" *-DI," +,-" I'(&23-*" /%+," D" !K" +'" !Q" A-*" I-(+" I2+" 'E-*" /,D+" %&"
DII-A+D>1-"%(+-*(D+%'(D11@O"W,D+"D"/D@"+'"/D&+-"D"IDA%+D1"%(+-(&%E-"D(?"A*-I%'2&"*-&'2*I-s"
U,-*-"%&"D1&'"D"*-D1"?D(B-*"+,D+"A1D(+&"A2+"2A"/%+,"B*-D+"?%))%I21+@"D(?"-fA-I+-?"+'"B'"'("
&+*-D3" %(" +,-" (-f+" )-/" @-D*&G"/%11" ('+" >-" D>1-" +'" 'A-*D+-" 'A+%3D11@" ?2-" +'" D>&-(I-" '*"
%(D?-b2DI@" ')" +,-&-" UjJ" -EDI2D+%'(" &@&+-3&O"R-*-" DBD%(" +,-" *-&'2*I-" &ID*I%+@" ')" +,-"
&+D+-"-1-I+*%I%+@">'D*?&")%B2*-&"%("?-+-**%(B"%33-?%D+-"%(E-&+3-(+&")'*"+,-"*-('ED+%'(""')"
UjJ" &@&+-3&O" U,-*-" %&" D(" 2*B-(+" (--?" +'" -(DI+" 1D/&" +'" -(D>1-" A*%ED+-" &-I+'*"
-(+*-A*-(-2*&"+'"-(+-*"+,-"UjJ">2&%(-&&O"
:(" +,-" A'/-*" B-(-*D+%'(" &%?-"/-" (--?" +'" &-+" 2A" +,-" I'(+*%>2+%'(" ')" (2I1-D*" A'/-*"
B-(-*D+%'("D&"/-11O"U,-"A'112+%'("B-(-*D+-?" %&"3%(%323"I'3AD*-?"+'"+,D+")*'3"+,-*3D1"
A'/-*"B-(-*D+%'(O"#II'*?%(B"+'"+,-"J#5Y&"A*'a-I+%'(G"=KKK"0W"/%11">-"D??-?">@"=K=KO
==L"
:2*"E%-/"%&"+,D+"+,%&"A*'a-I+%'("&,'21?">-"?'2>1-?"%("E%-/"')"+,-"2*B-(I@"D(?"3DB(%+2?-"
')"'2*"A'/-*""(--?&O8("+,-"E%&%'(")'*"+,-"-1-I+*%I"A'/-*"&-I+'*G"/-"D*-"+,2&"""?'3%(D+-?">@"
32I," (--?-?" &,'*+c+-*3" 3-D&2*-&" /,%I," *-1D+-" +'" %33-?%D+-" IDADI%+@" D??%+%'(&" D(?"
%(I*-D&-?"A'/-*"DED%1D>%1%+@O"
U,-"I*2I%D1"'(-&"D*-^
•" <-++%(B""2A"3D(@"&3D11"A*'a-I+&"%("+,-"*D(B-"')"=Q"+'"
!KK"0WO
•" X-)2*>%&,3-(+"')"+,-"-f%&+%(B"A'/-*"A1D(+&O"U,-&-"/%11"
9-"'("+,-"1%(-&"?'(-">@"+,-".U4H")'*"+,-"7(I,D>D*"
&+D+%'(O
•" #++-(+%'("+'"D11"+,-"UjJ"&@&+-3&"'("+,-"1%(-&"?%&I2&&-?"
D>'E-O"
8("+,-"3-?%23"D(?"1'(B"+-*3^
•" :2*",@?*'c"A'/-*"IDADI%+%-&"D*-"('+")211@"2+%1%d-?O"U,-"
I'2(+*@"&,'21?"D2B3-(+"%+&",@?*'cB-(-*D+%'("IDAD>%1%+@"
D&"%+"%&"I*2I%D1"%("+,-"1'(B"*2(O
•" <-E-*D1"I1-D(-*"-(-*B@"B-(-*D+%'("+-I,('1'B%-&"1%C-"+,-"
8(+-B*D+-?"BD&"I'3>%(-?"I@I1-"M86HHN"D*-"(-I-&&D*@O"
U,-&-"(--?&"+'">-"&A-I%D11@"?-&%B(-?"+'"3D+I,"8(?%D("
I'D1"/%+,",%B,"D&,O"W-"&,'21?"1-D*("+'"2&-"'2*"D>2(?D(+"
&2AA1%-&"')"I'D1">@"&2%+D>1@"+*-D+%(B"+,-3"*D+,-*"+,D("
*-&'*+%(B"+'"%3A'*+"')"I'D1"'*")2-1")*'3"'2+&%?-O"5E-("
+,-"7<#",D&"&-+"%+&-1)"D"+D*B-+"')"-(-*B@"&-I2*%+@"/%+,"
1-D&+"?-A-(?-(I-"'(")'*-%B("&'2*I-&"+'"&2AA1@O
•" .2I1-D*"A'/-*G"%(I12?%(B"+,D+"/%+,")D&+">*--?-*"
+-I,('1'B@G"%&"I*2I%D1"%("8(?%DY&"&-D*I,")'*"-(-*B@"
&'2*I-&O
•" U'")2*+,-*"-(,D(I-"+,-"ID**@%(B"IDADI%+@"')"+,-"
+*D(&3%&&%'("1%(-&G"3%I*'A*'I-&&'*c>D&-?"I'3A-(&D+%'("
&@&+-3&"D*-"-(E%&DB-?O
•" .-/"&2>c&+D+%'(&"/,-*-"+,-"1D(?"%&"&ID*I-G"D"&%+2D+%'("/,%I,
==V"
%&"1%C-1@"+'"%(I*-D&-"/%+,"B*'/%(B"2*>D(%dD+%'(O"J-&%B("
D(?"3D(2)DI+2*%(B"IDAD>%1%+%-&")'*"I'(&+*2I+%(B"BD&"
%(&21D+-?"&2>c&+D+%'(&"D*-"*-b2%*-?"+'">-"?-E-1'A-?"%("
+,-"I'2(+*@O!
#;:!>9-B7;>!9J!;.;7=BD7D=G":2*"E%&%'(")'*"+,-"-1-I+*%I"A'/-*"&-I+'*"/%11"('+">-"I'3A1-+-"/%+,'2+"D"3Da'*"-3A,D&%&"'("
+,-"(-/"&'2*I-&"')"-(-*B%-&"/,%I,"D*-"I1-D("D(?"*-(-/D>1-O"U,-"A*%(I%A1-")'*3&"')"+,-&-"
D*-"^">%'3D&&G"/%(?G"&'1D*"D(?"&3D11",@?*'&O"8(?%DY&"/%(?"
A'+-(+%D1"%&"-&+%3D+-?"D+"=KKK"0WO"<--"%("+D>1-"!!O!")'*"'+,-*"A'+-(+%D1&O!
I%EKL!CC(C"5&+%3D+-?"4'+-(+%D1")'*"$D*%'2&"X-(-/D>1-"
5(-*B@"U-I,('1'B%-&"
<'2*I-&n&@&+-3""""""""""""""""""""""""""""""""""""DAA*'f%3D+-"A'+-(+%D1"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"9%'BD&""A1D(+&"M%("3%11%'(&N"""""""""""""""""""""""""""""""""""""""""""""!="
83A*'E-?"/''?&+'E-&"M%("3%11%'(&N" !=K"
9%'BD&"M0WN"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!LKKK"
<'1D*"-(-*B@"M0WnC3"="N""""""""""""""""""""""""""""""""""""""""""""""""""=K"
W%(?"-(-*B@"M0WN""""""""""""""""""""""""""""""""""""""""""""""""""""=KKKK"
<3D11",@?*'"A'/-*"M0WN""""""""""""""""""""""""""""""""""""""""""!KKKK"
:I-D("-(-*B@"M0WN"""""""""""""""""""""""""""""""""""""""""""""""""""QKKKK"iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"&'2*I-^"U5X8"5(-*B@"JD+D"J%*-I+'*@"D(?"S-D*"9''C"!\\Lc\V"
X-(-/D>1-"-(-*B@"&'2*I-&"&,'21?">-"&--("('+"3-*-1@"%("+-*3&"')""2(%+&"')"A'/-*">2+"D&"
&DE%'2*&" )'*" D*-D&"/,%I," 3%B,+" ('+" ,DE-" ,D?" DII-&&" +'" A'/-*O" 8)" +,%&" 1'ID+%'(" &A-I%)%I"
DAA*'DI,"%&"2&-?"D(?"&2I,"&@&+-3&"D*-"I,'&-("+'"A*'E%?-"A-'A1-"/%+,"'/-*G"D"+*-3-(?'2&"
-I'('3%I" D(?" &'I%D1" *'1-" I,D(B-" /%11" >-" >*'2B,+" D>'2+" >@" +,-&-" -(-*B@" &'2*I-&O" U,-
==\"
+-I,('1'B@"E%&%'(")'*"&2I,"D"&-*E%I-"%&"+,-*-)'*-"D"*%B,+"3%f"')"+,-&-"+-I,('1'B%-&"D1'(B"
'+,-*"I'(E-(+%'(D1"&'2*I-&"1%C-">D++-*%-&G"?%-&-1"'*"C-*'&-(-"-(B%(-&O"
8("+,-"32I,"1'(B-*"+-*3G")2-1"I-11&G"'*BD(%I"-(-*B@"&'2*I-&G",@?*'B-("-(-*B@")%&&%'("
A'/-*" D(?" )2&%'(" A'/-*" /'21?" A1D@" D(" %3A'*+D(+" *'1-" D(?" 8(?%D(" *-&-D*I,-*&" ,DE-"
%33-(&-"'AA'*+2(%+%-&"+'"I*-D+-"(-/"&@&+-3&O!
L6;B<G!;JJD7D;67G"
8("+,-"&,'*+G"3-?%23"D(?"1'(B"+-*3G"-))%I%-(I@"%("+,-"2&-"')"-(-*B@"/%11">-"D"I*2I%D1"AD*+"
')" +,-"+-I,('1'B%ID1"3%1%-2"')"D11"&-I+'*&O"_'*"-fD3A1-G" +,-"/D&+-",-D+" )*'3"&+--1"A1D(+&"
+'?D@"%&"*-a-I+-?"D+"*-1D+%E-1@",%B,"D>&'12+-"+-3A-*D+2*-"1-E-1&"M&'3-+%3-&"*D(B%(B")*'3"
VKK"'"H"+'"!QKK"'"H"NO" %)G" &D@G=K"A-*"I-(+"')" +,%&"-(-*B@" %&" *-I'E-*-?" %(" +,-" )'*3"')"/D&+-"
,-D+G" +,%&" I'21?" >-" 2&-?" +'" )2-1" D" 3-?%23c&%d-?" A'/-*" A1D(+O" 8(" -E-*@" /D1C" ')" 1%)-G"
%(I12?%(B"'2*",'3-&G"+,-*-"ID(">-"3D(@"-fD3A1-&"')"-(-*B@"I'(&-*ED+%'(O"_'*"-fD3A1-G"
%)" D"3%1C"E-&&-1" %&" +DC-(" )*'3" +,-" *-)*%B-*D+'*"D(?"C-A+"'2+&%?-"D+" *''3" +-3A-*D+2*-" )'*"
&'3-"+%3-">-)'*-">-%(B"A2+"'("+,-"&+'E-G"+,-"D??%+%'(D1"-(-*B@"*-b2%*-?")'*",-D+%(B"D"I'1?"
E-&&-1"/%11">-"*-?2I-?O"0'*-"%3A'*+D(+G"3D(@"')"+,-"-1-I+*%I"BD?B-+&"/-"&--"%("'2*",'3-&"
D(?")DI+'*%-&"D*-"('+"?-&%B(-?")'*"-))%I%-(+"2&-"')"A'/-*O"0'&+"')"'2*")D(&G")'*"-fD3A1-G"
I'(&23-" D>'2+" +/%I-" +,-" -1-I+*%I" A'/-*" +,-@" (--?" +'" *2(" D+" D" AD*+%I21D*" &A--?O"0D(@"
%(I*-3-(+D1" +-I,('1'B%ID1" %(?2I+%'(&" %(" &2I," &@&+-3&" /%11" 3-D(" 3'*-" A'/-*" >-%(B"
DED%1D>1-")'*"'+,-*&"+'"I'(&23-O"U,-"DB*%I21+2*D1"&-I+'*"%&"D1&'"D("D*-D"/,-*-"&2I,"-(-*B@"
I'(&-*ED+%'("/'21?"(--?"+'">-"D??*-&&-?""%33-?%D+-1@O"5E-("%)"A'/-*"%&"B%E-(")*--"'*"D+"
&2>&%?%d-?"*D+-&")'*"DB*%I21+2*D1"'A-*D+%'(&G"%+"%&"?-&%*D>1-"+'""2+%1%d-"3%(%323"-(-*B@")'*"
+,-"&D3-"+D&C"+,*'2B,"+,-"2&-"')"-(-*B@c-))%I%-(+"-1-I+*%I"A23A&O"8("+,-"1'(B"*2("+,-"D%3"
&,'21?">-"+'"DE'%?"-fI-&&%E-"&2>&%?-&" "-ID2&-"+,-"(D+%'("D(?"+,-"A-'A1-",DE-"+'"*-D1%d-"
+,D+"-1-I+*%I"A'/-*"%&"+,-"1%)-1%(-"')"+,-"I'2(+*@Y&"-I'('3@O"
:+,-*"%&&2-&"
U,-*-" D*-" D" (23>-*" ')" I'3A1-f" A'1%+%ID1" D(?" 1-BD1" %&&2-&"/,%I," D*-" *-b2%*-?" +'" >-"
&'1E-?"+'"-(&2*-"+,-"E%&%'("')"b2D1%+@"A'/-*")'*"D11O"4*%ED+-"&-I+'*"AD*+%I%AD+%'("I'21?"D1&'"
1-D?"+'"I'3A-+%+%'("%("&-*E%(B"+,-"2&-*&O"U,-*-"D*-"D1&'"A'&&%>%1%+%-&"')"+*D(&>'*?-*")1'/&"
')"-1-I+*%I%+@"D&"D" *-B21D*">2&%(-&&O"U-I,('1'B%-&"D*-"/-11"/%+,%(" *-DI," +'"3DC-" 8(?%D" D
=PK"
A'/-*c*%I,"I'2(+*@"/,%I,"%&"D>1-"+'"A*'E%?-"b2D1%+@"A'/-*")'*"D11"D+"D))'*?D>1-"A*%I-&O"92+"
+,-" " (D+%'(" D(?" &-E-*D1" &+DC-,'1?-*&" ,DE-" +'" -E'1E-" +,-" A*%'*%+%-&%(" %()*D&+*2I+2*-"
+-I,('1'B@" D(?" >*-DC" +,-" (-f2&" ')" E-&+-?" %(+-*-&+&" D(?" %(-*+%DG" ')+-(" >2%1+" 2A" >@" +,-"
&+DC-,'1?-*&" +,-3&-1E-&O" W-" >-1%-E-" +,D+" +,-" I'2(+*@" ID(" DII'3A1%&," +,%&" E%&%'(" )'*"
-1-I+*%I"A'/-*"/,-("%+"/%11&"%+&-1)"%(+'">-I'3%(B"D"?-E-1'A-?"(D+%'(O!
I@;!:0=;B>"
X%E-*&" ,DE-" B*-D+" 3@+,%I" &%B(%)%ID(I-" )'*" 2&O"R'/-E-*"/-" ,DE-" ('+" +*-D+-?" '2*"/D+-*"
*-&'2*I-&" /%+," +,-" ID*-" +,-@" ?-&-*E-OU,-" (--?" )'*" /D+-*" )'*" DB*%I21+2*-G" %(?2&+*@" D(?"
A-*&'(D1"I'(&23A+%'("%&"2(?-*&+''?">@"D11G"-&A-I%D11@"/,-(">%B"I%+%-&"D(?"*2*D1"D*-D&"*--1"
2(?-*"/D+-*"&,'*+DB-&"%("+,-"&233-*O"U,-"A'112+%'("')"'2*"*%E-*&"D(?"/D+-*">'?%-&"%&"D1&'"
*-)1-I+-?"%("+,-",-D1+,"A*'>1-3&"+,D+"'II2*"%("3D(@"AD*+&"')"+,-"I'2(+*@O"7*B-(+"D++-(+%'("
%&"(--?-?"+'"'E-*I'3-"+,-&-"A*'>1-3&"%("+,-"I'3%(B"@-D*&O"X-I@I1%(B"')"/D+-*"D(?"/D+-*"
I'(&-*ED+%'("/%11">-"D"I*%+%ID1"I'3A'(-(+"')"'2*"?D%1@"1%E-&"%("+,-"I'3%(B"3%11-((%23OW-"
/'21?"1%C-"+'"&,D*-"/%+,"+,-"*-D?-*&"D('+,-*"D&A-I+"')"/D+-*^"/D+-*"D&"D"+*D(&A'*+"3-?%23O"
WD+-*/D@&" D*-" '(-" ')" +,-" " 3'&+" -(-*B@c-))%I%-(+" )'*3&" ')" +*D(&A'*+O" X'D?" +*D(&A'*+"
&-*E%I-&"D(?"*D%1/D@&"'II2A@"D"A*'3%(-(+"A1DI-" %("'2*"+*D(&A'*+"&@&+-3""DII'2(+%(B" )'*"
QPOP"A-*"I-(+"D(?"P!OL"A-*"I-(+"*-&A-I+%E-1@"')"+,-"+'+D1"6J4"')"+,-"-(+%*-"+*D(&A'*+"&-I+'*"
%("!\\=c\PO":(+,-"'+,-*",D(?"G"/D+-*"+*D(&A'*+",D&"D"&,D*-"')"'(1@"]OQ"A-*"I-(+O"U,-"6J4"
%("+,-"*'D?"+*D(&A'*+"&-I+'*",D&">--("B*'/%(B"D+"D("D((2D1"*D+-"')"VOV"A-*"I-(+">-+/--("
!\VKcV!"D(?"!\\=c\P"D&"I'3AD*-?"+'"+,-"B*'/+,"*D+-"')"a2&+"P"A-*"I-(+"%("/D+-*"+*D(&A'*+O"
U,-*-" D*-" &-E-*D1" )DI+'*&"/,%I," -fA1D%(" +,-" ?%3%(%&,%(B%3A'*+D(I-" ')"/D+-*/D@&O" U,-"
3D%(" ?%&D?ED(+DB-" ')" /D+-*/D@&" %&" +,D+" +,-@" ID(" +*D(&A'*+" " B''?&" '(1@" '(" )%f-?" D(?"
1%3%+-?" *'2+-&" 2(1%C-" +,-" *'D?" D(?" *D%1/D@" &@&+-3&"/,%I," ,DE-" +,-" IDADI%+@" +'" A*'E%?-"
&-*E%I-&">-+/--("D"1D*B-"(23>-*"')"A'%(+&"+'"&2%+"+,-"*-b2%*-3-(+&"')"+,-"2&-*&O"<-I'(?1@"
G+,-*-",D&">--(D" *DA%?"-fAD(&%'("')" +,-" *D%1/D@" D(?" *'D?"(-+/'*C&"?2*%(B" +,-"AD&+" )'2*"
?-ID?-&G"/,%1-"/D+-*/D@&" ,DE-" *-3D%(-?" D13'&+(-B1-I+-?O" 42>1%I" &-I+'*" %(E-&+3-(+" %("
%(1D(?"/D+-*/D@&"+*D(&A'*+"M8WUN",D&">--("E-*@"&3D11" %("I'3AD*%&'("+'"+,-" %(E-&+3-(+"
D('+,-*"3'?-&"')"+*D(&A'*+O"8+"/D&"'(1@"%("+,-"&-E-(+,"A1D("+,D+"&'3-"D++-(+%'("/D&"AD%?"
+'"+,-"?-E-1'A3-(+"')"/D+-*/D@&"D(?"/D+-*"+*D(&A'*+O"U,-"2&-"')"8WU"%&"I'()%(-?"'(1@"+'"
I-*+D%(D*-D&"1%C-"+,-"0D(?'E%"*%E-*" %("6'DG"6D(BD"%("+,-"-D&+-*("*-B%'(&G"+,-"ID(D1&"D(?"
>DIC/D+-*&"')";-*D1DG;D*(D+DCDG0D,D*D&,+*D"D(?"#(?,*D"4*D?-&,OU,-"&AD+%D1" 1%3%+D+%'(
=P!"
')"/D+-*/D@&" ID(('+G" ,'/-E-*G" >-I'(&%?-*-?" D"3Da'*" I'(&+*D%(+" %(" +,-" ?-E-1'A3-(+" ')"
/D+-*"+*D(&A'*+"D&"]!"A-*"I-(+"')" +,-"-f+-(+"')"(DE%BD>1-"/D+-*/D@&"*-3D%(&"2(2+%1%d-?O"
#++-(+%'("G+,-*-)'*-G"(--?&"+'">-")'I2&-?"'(",'/">-&+"+,-"I2**-(+"(DE%BD>1-"/D+-*"&@&+-3"
')"!TQTTC3"ID(" >-"2+%1%d-?" +'"?-E-1'A"D("-))%I%-(+" +*D(&A'*+" &@&+-3O" 8+" %&" %3A-*D+%E-" +'"
%?-(+%)@" D(?" *-3'E-" +,-" A,@&%ID1" %()*D&+*2I+2*D1" I'(&+*D%(+&O" <'3-" ')" +,-" 3Da'*"
I'(&+*D%(+&"D*-""B%E-(">-1'/^
•" .DE%BD+%'(D1",DdD*?&"?2-"+'">D(C"-*'&%'(G"&%1+D+%'("D(?"
?-+-*%'*D+%'("')"I,D((-1&
•" <,D11'/"/D+-*"D(?"(D**'/"/%?+,"')"*%E-*&
•" FDIC"')"D?-b2D+-"(DE%BD+%'(D1"D%?&
•" 8(D?-b2DI@"')",'*%d'(+D1"D(?"E-*+%ID1"I1-D*D(I-G"
%(D?-b2DI@"')",@?*D21%I"&+*2I+2*-"M1'IC&NG"D(?"'1?"
E-&&-1&g"D(?
•" F'&&"%("+,-"I'&+"')"D?ED(+DB-"')"8WU"/,-("+,-"A1DI-"')"'*%B%("D(?"?-&+%(D+%'("%&"
('+"1'ID+-?"'("+,-"*%E-*">D(CO"
#(" D(D1@&%&" ')" +,-" I2**-(+" &+D+2&" ')" +,-" +/'"3Da'*" /D+-*/D@&" %(" +,-" I'2(+*@G" E%dO" +,-"
6D(BDc9,DB%*D+,%cR''B,1@" M69RN" *%E-*" &@&+-3" D(?" +,-"9*D,3DA2+*D" *%E-*" *-E-D1&" +,D+"
A*-&-(+1@" 3'&+1@" >21C@" D(?" ('(cA-*%&,D>1-" I'33'?%+%-&" D*-" >-%(B" +*D(&A'*+-?'(" +,-&-"
+/'"*%E-*"&@&+-3&O"U,-*-"%&G",'/-E-*"G"D"B*-D+"A'+-(+%D1)'*"%(I*-D&%(B"+,-"E'123-"')"+*D))%I"
'(""+,-3O"92+"+,%&"A'+-(+%D1"ID(">-"-fA1'%+-?"'(1@"+,*'2B,"?-E-1'A3-(+"')"D("%(+-B*D+-?"
(-+/'*C" ')" *D%1G" *'D?" D(?" 8WUO" U,%&" /'21?" D1&'" *-b2%*-" +,-" -&+D>1%&,3-(+" ')" -))%I%-(+"
3-I,D(%ID1" ID*B'c,D(?1%(B" )DI%1%+%-&D+" ED*%'2&" A'%(+&" ')" +,-" 321+%3'?D1" +*D(&A'*+"
(-+/'*CO" #1+,'2B," &'3-" /D+-*/D@&" %(" +,-" I'2(+*@" ,DE-" >--(" I1D&&%)%-?" D&" (D+%'(D1"
/D+-*/D@&G" +,-*-" %&" D" (--?" +'"3'?-*(%d-" +,-&-" >@" 3DC%(B" DAA*'A*%D+-" 2&-" ')" DED%1D>1-"
+-I,('1'B@G"&2I,"D&"A'&%+%'("1'ID+%'("D(?"I'332(%ID+%'("&@&+-3&G"&'"+,D+">-I'3-h&3D*+"
/D+-*/D@&YO"""""<3D*+"/D+-*/D@&"&,'21?",DE-"&2))%I%-(+"(DE%BD>1-"?-A+,"D(?"/%?+,"&'"+,D+"
1D*B-*" E-&&-1&" /%+," ,%B,-*" ?*D)+" 3D@" >-" D>1-" +'" (DE%BD+-" +,-3O" U,-" I'(?%+%'(" ')" +,-"
/D+-*/D@&"&,'21?"A-*3%+"(DE%BD+%'("+,*'2B,'2+"+,-"@-D*O"U,-@"&,'21?",DE-"&3''+,">-(?&"
D(?"3%(%323"&%1+D+%'(G"/%+,"&2))%I%-(+"E-*+%ID1"I1-D*D(I-"&'"+,D+"+,-"E-&&-1Y&"3'E-3-(+"%&"
('+" ,%(?-*-?O$-&&-1&" &,'21?" >-" D>1-" +'" (DE%BD+-" D+" 1-D&+" -%B,+--(" ,'2*&" A-*" ?D@" '(" +,-"
/D+-*/D@&O" 5))%I%-(+" 1'D?%(B" D(?" 2(1'D?%(B" )DI%1%+%-&" &,'21?" >-" DED%1D>1-" D+" &-E-*D1
=P="
A'%(+&O" U,-" /D+-*/D@&" &,'21?" >-" D?-b2D+-1@" 1%B,+-?" D(?" -b2%AA-?" /%+," 3'?-*("
(DE%BD+%'(D1"D(?"I'332(%ID+%'("D%?&O8)""/-",DE-"&3D*+"/D+-*/D@&G"3'E-3-(+"')"ID*B'G"
>-" %+" )''?"3D+-*%D1&" '*" I-3-(+G" -E-(" )*'3"42(aD>" +'" (-%B,>'2*%(B"9D(B1D?-&,G" ID(" >-"
?'(-"E-*@"-))-I+%E-1@O#3'(B"'+,-*"+,%(B&G"+,-"+-I,('1'B@"%3A-*D+%E-&")'*"/D+-*/D@&"D*-^
•" J-&%B(%(B" +-*3%(D1&" +'" +DC-" ID*-" ')" >'+," >21C" ,D(?1%(BD(?" B-(-*D1" ,D(?1%(B" D(?"
&+'*DB-"g%(+*'?2I+%'("')"3'>%1-"B*D>"I*D(-&"D(?"I'(E-@-*">-1+"1'D?-*&g"%(+*'?2I+%'("
')" 1%B,+-*DB-" &@&+-3" )'*" +*D(&)-**%(B" ID*B'" D&" /-11" D&" I'(+D%(-*&g" I'(&+*2I+%'(" ')"
)1'D+%(B"a-++%-&"+'"A*'E%?-")1-f%>%1%+@"%("3'E-3-(+g"D(?"?-&%B(%(B"DAA*'A*%D+-"a-++%-&"
/%+," (-I-&&D*@" -b2%A3-(+" " ?-A-(?%(B" '(" +,-" (D+2*-G" /-%B,+" D(?" E'123-" ')" +,-"
ID*B'O
•" 8(+*'?2I+%'(" ')" 3'?-*(" -1-I+*'(%I&G" &D+-11%+-" I'332(%ID+%'(" D(?" %()'*3D+%'("
+-I,('1'B@" DAA1%ID+%'(&" &2I," D&" *D?%'" I'332(%ID+%'(" M&,'*+" *D(B-N" )*'3" &,'*-" +'"
&,%A" D(?" &,%A" +'" &,%Ag" 1'(Bc*D(B-" I'332(%ID+%'(" 2&%(B" &D+-11%+-" 1%(C&g" (DE%BD+%'("
2&%(B"+,-"&D+-11%+-c>D&-?"B1'>D1"A'&%+%'(%(B"&@&+-3"M64<Ng")1--+"3D(DB-3-(+"2&%(B"D"
I'3>%(D+%'("')"&D+-11%+-"I'332(%ID+%'("D(?"(DE%BD+%'("
8+""%&"-fA-I+-?"+,D+">@"+,-"@-D*"=K!Q"+,-"DII-&&"(-+/'*C"/'21?">-"D>1-"+'"&2AA'*+"
)211" 3'>%1%+@" DII-&&" +,*'2B,'2+" +,-" (-+/'*CG" +,-" A*'E%&%'(" ')" A-*&'(D1" A,'(-" (23>-*&"
D(?" +,D+" 'A+%ID1" )%>*-&" /'21?" *-DI," +,-" &2>&I*%>-*Y&" ,'3-O#" E-*@" &@&+-3&g" -1-I+*'(%I"
I,D*+&")'*"I'(E-(%-(+"A'&%+%'(%(B"')"E-&&-1&"?2*%(B"+,-%*"+*D(&%&+g"2&-"')"&D+-11%+-"&@&+-3&"
)'*"-3-*B-(I@"&%+2D+%'(&"D(?"'(c>'D*?"-b2%A3-(+" 1%C-" 1'/cI'&+"(DE%BD+%'(" *D?D*&G" -I,'"
&'2(?-*&" D(?" $R_" I'332(%ID+%'(" *-I-%E-*&OU,2&" 3'?-*(" -1-I+*'(%I" +-I,('1'B%-&" ID("
%3AD*+"(-/"E%B'2*"+'"D("D(I%-(+"+*D(&A'*+"&@&+-3"D(?"D1&'"&DE-"I'(&%?-*D>1-"-(-*B@"%("+,-"
A*'I-&&OU,-" 'I-D(&"W-" ID(" -f+-(?" +,-" %?-D" ')" *%E-*" (DE%BD+%'(" +'" I'D&+D1" /D+-*/D@&O"
$-*@")-/"I'2(+*%-&"D*-">1-&&-?"/%+,"'I-D(&"'("+,*--"&%?-&"D(?"D"&-+"')"%&1D(?&"'("+/'"')"
+,-3O"_'*"+'2*%&3"'*")'*"+*D?-G"+,-&-"A*'E%?-"-fI-11-(+"%()*D&+*2I+2*-"%("+,-3&-1E-&O"8(?%D"
,D&" -1-E-(" 3Da'*" A'*+&" D(?" !P\" 'A-*D>1-" 3%('*" A'*+&O" U,-" 3Da'*" A'*+&" D*-" +,-"
*-&A'(&%>%1%+@" ')" +,-" I-(+*D1" B'E-*(3-(+" D(?" +,-" 3%('*" A'*+&" +,D+" ')" +,-" &+D+-"
B'E-*(3-(+&O" U,-" -1-E-(" 3Da'*" A'*+&" D*-^" ;D(?1DG" 023>D%G" [D/D,D*1D1" .-,*2" A'*+G"
0D*3DBD'G" .-/" 0D(BD1'*-G" ;'I,%G" U2+%I'*%(G" H,-((D%G" $%&,DCDAD+(D3G" 4D*D?%A" D(?"
HD1I2++DO"0D*C-?"'("D"3DAG"+,-@")'*3"D">-D2+%)21"BD*1D(?O"U,-&-"A'*+&"DII'2(+")'*"\Q"A-*"
I-(+"')"+,-"+'+D1"+*D))%I",D(?1-?OU,-"D((2D1"+*D))%I"?2*%(B"!\\]c\L"/D&"D*'2(?"==Q"3%11%'(
=PP"
+'(-&g" %+" %&"A*'a-I+-?"+,D+" %+"/%11">-"D>'2+"P\K"3%11%'("+'(-&">@"=KKKcK!"D(?"]QK"3%11%'("
+'(-&">@"=KKQcK]O"U,-""B*'/+,"')"+*D))%I"D+"8(?%D("A'*+&",D&">--("'("+,-"2A&/%(B"'E-*"+,-"
1D&+")-/"@-D*&O"R'/-E-*G"A*'?2I+%E%+@"%("+-*3&"')"+,-"#E-*DB-"<,%A"U2*("#*'2(?"M#<U#N"
D(?"+,-"#E-*DB-"<,%A"9-*+,":2+A2+"M#<9:N"(--?&"+'">-"%3A*'E-?"+'"*-DI,"%(+-*(D+%'(D1"
&+D(?-*&O" H'(&%?-*D>1-" A*%ED+%dD+%'(" %&" +DC%(B" A1DI-" D+" D" (23>-*" ')" 3%('*" A'*+&O" W-"
>-1%-E-" +,D+" 8(?%D(" A'*+&" &,'21?" D%3" D+" 32I," 3'*-O" 8(?%D" ID(" -D&%1@" >-" D(" -fI-11-(+"
?-&+%(D+%'(" )'*" ,D(?1%(B"3Da'*" %(+-*(D+%'(D1" +*D))%IO":2*"'I-D(&" D(?" %&1D(?&" ID(" D1&'G" %)"
+DAA-?"-))-I+%E-1@G">-"D"*%I,"&'2*I-"')"D"(23>-*"')"A*'?2I+&"')",%B,"-I'('3%I"ED12-!
#;=:9B8D6<!=@;!BDF;B>"
8(" D??%+%'(" +,-*-" %&" D"32I,"B*-D+-*" (--?" )'*" (-+/'*C%(B" *%E-*&O"U,-@"/'21?" ('+"
'(1@"A*'E%?-"(-/"/D+-*"*'2+-&">2+"D1&'",-1A"?%&+*%>2+-"/D+-*")*'3"D*-D&"')"-fI-&&"+'"+,'&-"
+,D+"D*-"?-)%I%-(+O"W-"C('/"+,D+"+,-*-"D*-"-3'+%'(D1"D(?"A'1%+%ID1"%&&2-&"%(E'1E-?O"92+"/-"
>-1%-E-"+,D+"D&"D"(D+%'("3D*I,%(B"+'/D*?&"?-E-1'A-?"I'2(+*@"&+D+2&G"/-"&,'21?"D1&'"1-D*("
,'/" +'" &,D*-" 1D*B-&&-" D(?" *-&'2*I-&" D3'(B&+" '2*&-1E-&" D(?" -E'1E-" D(" -))%I%-(+" /D+-*"
3D(DB-3-(+"A'1%I@O"W,D+"/-"('/",DE-"+'"D%3"D+"%&"I*-D+%(B"3'*-"/-D1+,"D(?"A*'&A-*%+@"
+'" &,D*-G" D(?" ('+" *-?2I-" '2*&-1E-&" +'" A-++@" &b2D>>1%(B" 'E-*" ?%&+*%>2+%(B" A'E-*+@" D(?"
I'*(-*%(B" D" )-/" A*%E%1-B-&OU,-" 8U" 3%&&%'(" <'" )D*" /-" ,DE-" ?%&I2&&-?" +,-" I'(E-(+%'(D1"
)'*3&"')" %()*D&+*2I+2*-O"8("+-*3&"')"3'?-*("%()*D&+*2I+2*-G"+-1-I'332(%ID+%'(&"%&"I*2I%D1"
+'"D(@"I'3A-+%+%E-"-I'('3@O"W%+,"+,-"-3-*B-(I-"')"?%B%+D1" +-I,('1'B@"M/,%I," %(I12?-&"
I'3A2+-*&N"?D+D"+*D(&3%&&%'(",D&"A-*ED?-?"D11"D&A-I+&"')"1%)-G"2(?-*"+,-"(D3-"%()'*3D+%'("
+-I,('1'B@"M8UNO"W-",DE-"&--(",'/"D"/,'1-"*D(B-"')"&-*E%I-"&-I+'*&",DE-">--("'A-(-?"
2A"+,*'2B,"8UO"U,-*-"D*-"B''?"A'&&%>%1%+%-&")'*"8(?%D"+'"-3-*B-"D&"D("8U"&2A-*A'/-*G"/%+,"
D" 1D*B-" &,D*-" ')"/'*1?" >2&%(-&&" D(?" D1&'" >@" >-%(B" +,-" '*%B%(D+'*" ')" 3D(@" (-/" 8U" D(?"
&')+/D*-"&@&+-3&"%("+,-"/'*1?O"
_'*"+,-"AD&+")-/"@-D*&"&-E-*D1"I'33%++--&"D(?")'*"D",DE-"D??*-&&-?"+,-"%&&2-&"*-1D+%(B"
+'"8(?%D">-I'3%(B"D"3Da'*"8U"D(?"&')+/D*-"A1D@-*"%("+,-"/'*1?O"8(?%D",D&">-I'3-"D"?-&+%(D+%'(")'*"
3D(@" ')" +,-" /'*1?Y&" &')+/D*-" I'3AD(%-&O" 8(?%D(" -fA-*+&" D*-" >-%(B" ha'>c&,'AA-?Y" )'*" >@" 3D(@"
I'3AD(%-&O" 8(?%D(" &')+/D*-" -fA'*+&" D*-" B*'/%(B" >@" A-*I-(+DB-&" ')" D13'&+" +-(&" A-*" @-D*O" U,-"
A'+-(+%D1" %&" )D*" 3'*-O" U,-" A*%3-3%(%&+-*Y&" '))%I-" ,D&" *-I-(+1@" &-+" 2A" D" .D+%'(D1" +D&C" )'*I-" +'"
D??*-&&"+,-"%&&2-&"%(E'1E-?"D(?"&A--?"2A"+,-"A*'I-&&"')"-fAD(&%'("')"+,-"8U"&-I+'*"%("8(?%DO"U,%&"
3-D(&"DI+%'("'("&-E-*D1")*'(+&O"U,-"&-++%(B"2A"')"+,-">DIC>'(-")%>*-""'A+%I"(-+/'*C&""">-"&A--?-?
=PT"
2AO"U,-"-fI12&%E-"I'332(%ID+%'("%()*D&+*2I+2*-"DED%1D>1-"/%+,"3D(@"B'E-*(3-(+"DB-(I%-&"&2I,"D&"
*D%1/D@&G" '%1G" D(?" +,-" '%1" D(?" .D+2*D1" 6D&" H'33%&&%'(" M:.6HN" ,D&" +'" >-" ?-A1'@-?D&" D" ?D+D"
+*D(&A'*+"3-?%23O"U,-"A*%ED+-"&-I+'*",D&"+'">-"D"-(I'2*DB-?"D(?"-(D>1-?"+'"-(+-*"&2I,"DI+%E%+%-&O"
#1&'G" %(('ED+%E-" &@&+-3&" ,DE-" +'" >-" D11'/-?" +'" >*%?B-" +,-" h1D&+c3%1-" A*'>1-3&Y" ')" *-DI,%(B" +,-"
(-+/'*C" +'" +,-" DI+2D1" 2&-*O" #11" +,-&-" /'21?" 3-D(" *-3'ED1" ')" ED*%'2&" -f%&+%(B" 3'('A'1%-&" D(?"
D11'/%(B" +,-" 8(?%D(" -(+*-A*-(-2*%D1" &A%*%+" +'" )1'2*%&,O8(" D??%+%'(G" &+-A&" ,DE-" +'" >-" +DC-(" >@" +,-"
B'E-*(3-(+"+'"*-3'E-"&-E-*D1"%**%+D+%(B"A*'I-?2*D1">'++1-(-IC&"+'"3DC-"-E-("&%(B1-"A-*&'("2(%+&"')"
+,-"8U"%(?2&+*@"I'3-"2A"D11"'E-*"+,-"I'2(+*@O"W%+,"D"*%B,+"3%f"')")%&ID1"%(I-(+%E-&G"I'3A2+-*&"ID("
>-"3D?-"DED%1D>1-"+'"1D*B-"(23>-*"')"8(?%D(&O"8(")DI+"D&"+,-"*-E'12+%'("%("+-1-A,'(-")DI%1%+%-&",D&"
D1*-D?@" 1%(C-?" +'/(&" D(?" D" 1D*B-" (23>-*" ')" E%11DB-&G" %+" %&" A'&&%>1-" +'" ,DE-" +,-"<UJn8<J">''+,&"
+,-*-">@"&-+"2A"-b2%AA-?"/%+,"I'3A2+-*&"+'"&-(?"D"-c3D%1"D(?"*-I-%E-"?D+DO"<2I,"DI+%E%+%-&"ID(">-"
*2("'("D"I'33-*I%D1">D&%&G" %)"B'E-*(3-(+"DB-(I%-&"*-?2I-"-fI-&&%E-"-(+*@" )--&"D(?"+D*%))"*D+-&"D+"
1-D&+")'*"+,-"(-f+")%E-"@-D*&O"W-"3D@"&''(",DE-"D"&%+2D+%'("/,-*-"&')+/D*-"-fA'*+"I'3AD(%-&"D*-"
1'ID+-?"%("8(?%DY&"E%11DB-&s"8(?%DY&"&+*-(B+,"%("&')+/D*-"D(?"8U"D*-"?2-"+'"%+&"+D1-(+-?"@'2+,O"J-&A%+-"
3D(@" A*'>1-3&G" '2*" &I,''1&" D(?" I'11-B-&" ,DE-" A*-AD*-?" +,-3" )'*" +,-" (-/" I,D11-(B-&O" 0D(@"
A*%ED+-"%(%+%D+%E-&",DE-"+*D%(-?"+,-3")'*"+DC%(B"2A"&A-I%)%I"a'>&O"0D(@"A''*")D3%1%-&"&A-(?"&-E-*D1"
+,'2&D(?&" ')" *2A--&" '(" +,-%*" I,%1?*-(" +'" -b2%A" +,-3" )'*" D" I'3A2+-*" a'>O" 0'&+" ')" +,-3"
*-/D*?-?OJ-E-1'A3-(+" ')" &')+/D*-" D(?" 8U" +-I,('1'B%-&" %&" A*'B*-&&%(B"/'*1?/%?-" %(" D" ?%*-I+%'("
&2%+D>1-" +'" D?ED(I-?" I'2(+*%-&^" %(I*-D&-?" D2+'3D+%'(g"32I," 1-&&" ?-A-(?-(I-" '("3D(2D1" -(+*%-&g"
%(I*-D&%(B"2&-"')",%B,-*"-(?"&')+/D*-" )'*"?-&%B(G" &%321D+%'(G"D(D1@&-&"D(?"&@(+,-&%&O"#1*-D?@"+,-"
&,D*-" ')" +,-" ?-E-1'A%(B" /'*1?" %(" +,-" 'E-*D11" 8U" D(?" &')+/D*-" '2+A2+" '*" DI+%E%+%-&" %&" D+" D" 1'/"
A-*I-(+DB-O":2*"ED12-"D??-?"&,D*-"%("+,-"8U"&-I+'*"3D@"B'"?'/(")2*+,-*" %)"/-"?'"('+"D??*-&&"+,-"
3D++-*"')" DIb2%*%(B" I'*-" &+*-(B+,&" %(" +,-" ?-&%B(" D(?" A*'?2I+%'(" ')" -(?" &@&+-3&O"#&" '(-" 1-D*(-?"
DID?-3%I"A2+"%+G"h/-"3D@"%3A'*+"D"1D*B-"(23>-*"')"I'3A2+-*&"'*"I'3A2+-*"I'3A'(-(+&"%("<;J"M"
<-3%c;('IC-?" J'/(N" )'*3" D1'(B" /%+," '+,-*" 8U" &@&+-3&" D(?" " &')+/D*-O" W-" 3D@" &A*-D?" +,-3"
DI*'&&"+,-"I'2(+*@O"8)"/-"ID1I21D+-"+,-"ED12-"D??-?">-(-)%+" +'"+,-"-I'('3@"D(?"3%(2&"+,-" %3A'*+"
ED12-"GD*-"/-"A12&"'*"3%(2&e"U,D+"%&"+,-"I*2I%D1"b2-&+%'("+'"D(&/-*YO"
W-" >-1%-E-" /-" &%321+D(-'2&1@" (--?" *DA%?" -fAD(&%'(" D(?" D++-(+%'(" +'" 1D*B-c&ID1-"
I'33-*I%D1" DI+%E%+%-&" %(" +,-" ,%B,-*" -(?" ED12-" D??%(B" 8U" D(?" &')+/D*-" &@&+-3&O" U,-(" D1'(-" ID("
8(?%D" C--A" >D1D(I-" >-+/--(" %3A'*+&" D(?" -fA'*+&" %(" +,-" 8U" D(?" &')+/D*-" &-I+'*O" 8(" )DI+" /-" ID("
I*-D+-"D"3Da'*"D(?"&2&+D%(-?"&2*A12&"%("8(?%DY&")DE'2*"%("D")-/"@-D*Y&"+%3-O"&A--?"%&"')"+,-"-&&-(I-
=PQ"
&%(I-"D")-/"1D+-"&+D*+-*&"'E-*"+,-"B1'>-"D*-"+*@%(B"+'">-I'3-"8U"B%D(+&"D(?"D*-"/'*C%(B",D*?O:(-"')"
+,-" -1-3-(+&" (-I-&&D*@" +'" 3DC-" 8(?%D" D" 3Da'*" 8U" A'/-*" %&" +'" &+*-(B+,-(" 8U" -?2ID+%'(" %(" +,-"
I'2(+*@O"0D(@" -(B%(--*%(B" D(?" &I%-(I-" I'11-B-&" ,DE-" +'" >-" )DI%1%+D+-?" +'" %(+*'?2I-" 3'?-*(" 8U"
I'2*&-&"/%+,"+,-"A*%ED+-"&-I+'*"D(?"-E-("/%+,")'*-%B(")'(?-?"%(%+%D+%E-&O"H'(&+*D%(%(B"3'('A'1%-&"
,DE-"+'">-"*-3'E-?"D(?"/-"&,'21?"+*@"(-/"DAA*'DI,-&OU,-"C-@"&,'21?">-"+'"I*-D+-"D"1D*B-",23D("
*-&'2*I-&"ID?*-"%("D11"D&A-I+&"')"8UO"U,D+"%&"+,-"I*2I%D1" %()*D&+*2I+2*-")'*"8(?%D"+'">-I'3-"D"3Da'*"
8U"A'/-*O"8("'*?-*"+'"*-D1%d-"+,%&"E%&%'(G"+-1-I'332(%ID+%'(&")'*3&"+,-">-?*'ICO"#BD%(G"%("+,-"('+c"
&'c?%&+D(+" AD&+G" +-1-A,'(-&" /-*-" " I'(&%?-*-?" D" 12f2*@O" U,D(C&" +'" <D3" 4%+*'?D" /,'" >*'2B,+"
+-1-I'332(%ID+%'(&" +'" +,-" (D+%'(D1" I-(+*-" &+DB-" D(?" 1D2(I,-?" +,-" HcJ'U" A*'a-I+G"
+-1-I'332(%ID+%'("DII-&&"D(?"A-(-+*D+%'(",D&"B*'/(">@"1-DA&"D(?">'2(?&O"U,-"A'1%I@"')"'A-(%(B"
2A" +-1-I'332(%ID+%'(" +'" +,-" A*%ED+-" &-I+'*" ID(" &A--?" 2A" +,-" A*'I-&&O" 7()'*+2(D+-1@" ,'/-E-*G"
3'('A1%-&"?'"('+">*-DC"?'/("-D&%1@O"W-",'A-"+,-"&A-I%D1")'I2&"'("8U"/%11"1-D?"+'"DII-1-*D+%'("')"
+-1-I'332(%ID+%'(" (-+/'*C&" D(?" " -f+-(&%'(" ')" >-++-*" &-*E%I-&O" #" A'&%+%E-" )-D+2*-" ')" +,-" 8(?%D("
+-1-I'332(%ID+%'(&"(-+/'*C"%&" +,D+" +,-"A*'A'*+%'("')"?%B%+D1" 1%(-&" %("+,-"'E-*D11"(-+/'*C"%&"I1'&-"
U'"+,-"/'*1?Y&">-&+O"U,-"+-1-I'332(%ID+%'(&"(-+/'*C"%&"+,-*-)'*-"%("(--?"')"&2>&+D(+%D1"-fAD(&%'("
D&"/-11"D&"b2D1%+@"%3A*'E-3-(+O"U,%&"%&"I*2I%D1"%)"%+"%&"+'"&2AA'*+"+,-"/%?-"*D(B-"')"&-*E%I-&"+,D+"D*-"
('/" >-I'3%(B" DED%1D>1-O" 8?-D11@" +,-(G" +,-" I'2(+*@" *-b2%*-&" D" A*-?'3%(D(+1@" ?%B%+D1" (-+/'*C" ')"
&2))%I%-(+">D(?/%?+,"+'")DI%1%+D+-"E'%I-"DAA1%ID+%'(&"%("*2*D1"'*"2*>D("&-++%(B&G"D+"+,-"/'*CA1DI-"'*"
D+",'3-G"D(?"-E-("%("*-3'+-G",%11@"'*"%&'1D+-?"D*-D&"'*"%("+,-"%&1D(?&G"-(&2*%(B"D))'*?D>%1%+@G"-D&-"')"
2&-G"3'>%1%+@D(?"I'()%?-(+%D1%+@O"
_'*" +,-&-" &-*E%I-&" +'" >-" DED%1D>1-" +'" +,-" 3Df%323" (23>-*" ')" &2>&I*%>-*&" %+" %&"
(-I-&&D*@" +'" %(I*-D&-" +,-" (23>-*" ')" 1%(-&G" %(I*-D&-" +,-" A*'A'*+%'(" ')" ?%B%+D1" &/%+I,%(B"
+-I,('1'B%-&G%(I*-D&-""IDADI%+@"')"+,-"DII-&&"D(?"+*D(&3%&&%'("(-+/'*C"G"D(?"%3A*'E-"+,-"b2D1%+@"')"
H2&+'3-*"4*-3%&-&5b2%A3-(+MH45NO"8(?%D"I'21?G">@"=K!QG",DE-"D"(-+/'*C"/,%I,"I'21?">-"+'+D11@"
?%B%+D1g"A*'E%?-" )211"I'E-*DB-"/%+,%("+,-"I'2(+*@" gA*'E%?-"3'>%1-"&-*E%I-&">D&-?"'("+,-""4-*&'(D1"
H'332(%ID+%'("<@&+-3g"A*'E%?-"A-*&'(D1"I'332(%ID+%'(&"&-*E%I-&">@"&D+-11%+-g"D(?"A*'E%?-"-(?c"
+'c-(?",%B,">D(?/%?+,"IDAD>%1%+@"D+"I'33-*I%D1"I-(+*-&O"
W-"I'21?"/%+(-&&"+,-")'11'/%(B"%("+,-"8(?%D("DII-&&"(-+/'*C">@"+,-"@-D*"=KKKO"+,-"A*'E%&%'("
')")%>*-"+'"+,-"C-*>"D(?")%>*-"+'"+,-">2%1?%(Bg"+,-">-B%((%(B"')"1D*B-c&ID1-"?-A1'@3-(+"')"RJ<F8P"
+-I,('1'B%-&" '(" -f%&+%(B" I'AA-*" 1%(-&g" +,-" >-B%((%(B&" ')" E'%I-" D(?" ?D+D" I'332(%ID+%'(&" '(" +,-"
ID>1-(-+/'*CO"/%?-"*D(B-"')"H45"&,'21?">-"DED%1D>1-"D(?"%("2&-"%("+,-"I'2(+*@O"<A-I%)%ID11@G"/-
=P]"
D*-" 1%C-1@" +'" /%+(-&&" +,-" /%?-&A*-D?" 2&-" ')" " " >*'D?>D(?" H45" )'*" DAA1%ID+%'(&" *2((%(B" '("
+,-8(+-B*D+-?" <*E%I-&" J%B%+D1" " .-+/'*C" M8<J.N" D(?" +,-" >-B%((%(B&" ')" I'3A2+-*" k+-1-A,'(@"
%(+-B*D+%'("OW-"ID("-fA-I+"*'2+%(-"2&-')"321+%3-?%D"+-*3%(D1&">@"=K!Q"A*'E%?%(B"E%?-'"+-1-A,'(@"
D(?"E%?-'cI'()-*-(I%(B"DAA1%ID+%'("'("?-3D(?O"<-*E%I-&"D(?"DAA1%ID+%'(&"D*-"-fA-I+-?"+'"-fAD(?"
)*'3" E'%I-" GE%?-'cI'()-*-(I%(B" D(?" ,%B," >D(?/%?+," ?D+D" DAA1%ID+%'(&%(" =KKK" +'" -f+-(&%E-" ,%B,"
>D(?/%?+," &-*E%I-&" DED%1D>1-" %(" +,-" >%BB-*" I%+%-&" D+" 1-D&+G" D(?" &-E-*D1" &-*%'2&" DAA1%ID+%'(&" %("
-?2ID+%'("G,-D1+,"D(?"-(+-*+D%(3-(+"/%11">-"DED%1D>1-"OU,-"'E-*D11"E%&%'("%(I12?-&"I'(+%(2D1"-))'*+&"
+'" &A*-D?" &-*E%I-&" +'" D1D*B-" (23>-*" ')" *2*D1" D*-D&OU,D+" /'21?" ID11" )'*" %(('ED+%E-" &@&+-3&" D(?"
)1-f%>%1%+@"%("A'1%I-&O!
4-B0.!7966;7=DFD=G"
=]T" :E-*" D" A-*%'?" GD" (23>-*" ')" 3'?-*(" &I%-(+%)%I" D(?" +-I,('1'B%ID1" DI,%-E-3-(+&" ,DE-"
,-1A-?"+,-"*2*D1"D*-D&"D&"/-11O"U,-@",DE-"
=]Q" D1&'" D))-I+-?" *2*D1" 1%)-" k&+@1-&G" &'3-+%3-&" %**-*E-*&%>1@" O" 0'?-*(" )-*+%1%&-*" D(?" DB*'c"
I,-3%ID1&">D&-?",%B,"@%-1?"DB*%I21+2*-"G,-D1+,"
=]]" &-*E%I-&G" -1-I+*%I%+@" G*D?%'G+-1-E%&%'(" G>2&" &-*E%I-&G" DB*'"3DI,%(-*@D(?"A1D&+%I" )''+/-D*"
D*-"D")-/"-fD3A1-&OR'/-E-*"G+,-*-",D&"
=]L" >--("D("D&@33-+*@">-+/--("+,-"*2*D1"D(?"2*>D("D*-D&O<%(I-"2*>D("D*-D&"D*-"I-(+*-&"')"
%(?2&+*%D1"D(?">2&%(-&&"DI+%E%+%-&"D(?"
=]V" D1&'"&-D+&"')"A'1%+%ID1"A'/-*G"3D(@")DI%1%+%-&")'*"">-++-*"1%)-"D*-")%*&+"-&+D>1%&,-?"+,-*-O"U,-"
-I'('3%-&"')"&ID1-"/'21?"D1&'">-"
=]\" I%+%-?"D&">-%(B"%()12-(+%D1"%("A-'A1-"+DC%(B"&2I,"?-I%&%'(&"OW-D1+,">-B-+&"/-D1+,"OR%B,-*"
-I'('3%I"DI+%E%+@">-B-+&"3'*-"
=LK" -I'('3%I"DI+%E%+-&"D(?"+,-*-)'*-"3'*-"0D(@"2(?-*-3A'1@-?"A-*&'(&"3'E-"+'"+,-"'+,-*"
I%+%-&"%("&-D*I,"')"
=L!" D" >-++-*" 1%)-O4-*" &-" +,%&" %&" ('+" >D?O92+" " '(" +,-" '+,-*" ,D(?D++-(+%'(&" B%E-(" +'" 3'?-*("
)DI%1%+%-&"%("+,-"*2*D1"D*-D&"%&"A''*O"
=L=" #" B''?" ?'I+'*" /'21?" ('+" 1%C-" +'" &+D@" %(" D" E%11DB-G" ('*" /'21?" DB''?" +-DI,-*" OU,-"
D&@-33+*@"+,D+"%&"+,2&"I*-D+-?"+DC-&"D"+'11"
=LP" '(" +,-" I%+%-&" D&" /-11O0'&+" I%+%-&" D*-" >-I'3%(B" 2(1%ED>1-" D&D>'2+" QK" A-*" I-(+" ')" +,-%*"
%(,D>%+D(+&"1%E-"%("&123&"'*"(-D*c
=PL"
=LT" &123" I'(?%+%'(&G" '*" 1%E-" &'" )D*" D/D@" +,D+" +%*-" +,-3&-1E-&" %(" I'332+%(B" O#" (23>-*" ')"
&+2?%-&" ,DE-" &,'/(" +,D+">-@'(?"D"&%d-G%+">-I'3-&"32I," I'&+1%-*" +'"A*'E%?-"&-*E%I-&" +'"
+,-"%(I*-D&%(B"A'A21D+%'("%("D"I%+@"+,D("+'"-&+D>1%&,""D"(-/"I%+@s"
U,-" (-/" I%+%-&" (--?" " ('+" >-" >*D(?" (-/OF-+" 2&" 1''C" D+" +,-" (D+2*-" ')"3'?-*("
8(?2&+*%-&" " D(?" +,-" -3-*B%(B" &I-(D*%'OU,-" 3D&&" A*'?2I+%'(" ')" @-&+-*@-D*&" %&" '(1@"
I'()%(-?"+'"D")-/""D*-D&O8+"%&"A'&&%>1-"+'",DE-""D"(23>-*"')"?-I-(+*D1%d-?"%(?2&+*%-&"/,%I,"
3D%(+D%(" "/'*1?" kI1D&&" 1-E-1&" D(?" " >-I'3-"AD*+" ')" D" B1'>D11@" I'3A-+%E-" %(?2&+*@" ,DE-"
3D?-"B1'>D1"I'((-I+%E%+@"%(&+D(+D(-'2&O"
U,-*-)'*-"%+" %&"A'&&%>1-"+'"I'((-I+"I12&+-*&"')"E%11DB-&"+,*'2B,"D"(-D*1@"#((21D*"
*%(B"')"*'D?&"G/%+,"+*D))%I"?-&%B(-?"%("&2I,"D"/D@ +,D+"3'E-3-(+")*'3"'(-"
$%11DB-" " +'"D('+,-*"ID(">-"b2%IC"D(?"I'(E-(%-(+" OU,%&" ,-1A&" %("3D(@"/D@&" O0D(@"DB*'"
8(?2&+*%-&" G&-*E%I-&" %(?2&+*%-&" D(?" -E-(" ,%B," +-I," I'(I-*(&" ID(" >-" *-1'ID+-?" %(" &2I,"
$%11DB-&" " >@" 3'E%(B" D" )-/" B'E-*(3-(+" '))%I-&" D(?" A*'E%?%(B" &A-I%D1" I'(I-&&%'(&" )'*"
%(?2&+*%-&" O:(I-"" +,-"A*'I-&&"&+D*+&G-I'('3%I"DI+%E%+%-&" "/%11" " +DC-"ID*-"')" +,-"*-&+OU,-&-"
I12&+-*&"",DE-"+'">-""3D(DB-?"%("D(" " %3DB%(D+%E-"")D&,%'(&""D(?"%(+-11%B-(+%D"W,%I,"/%11"
3'E-"%("OU,-"E%&%'("%(I12?-&"+,-"">2%1?%(B"')"3D(@"&2I, I12&+-*&"D11"":E-*"+,-"8(?%D"D")-/"
I12&+-*&O!
"6,D06!=;[email protected]<G!06,!J9B;D<6!7.0D106=>"
:(-"D&A-I+"/,%I,"" %&" %(+-*-&+%(B"%&",'/G/,-(-E-*"8(?%D"DI,%-E-&"&'3-+,%(B"+,D+"
%&"H'33-(?D>1-G+,-"?-E-1'A-?"(D+%'(&"+-(?""+'"+*DI-"%+"+'"&'3-"C('/,'/"G-b2%A3-(+&":*"
3D(A'/-*"+,D+"/D&"A*'E%?-?"">@"+,-"u/-&+O_'*""%(&+D(I-"G%("[21@"!\VKG/,-("/-"FD2(I,-?"
'2*")%*&+"&D+%11-+-"1D2(I,"E-,%I1-"D(?"A2+"+,-"X',%(%"&D+-11%+-"%(+'"'*>%+"G8(?%D"9-ID3-"'(-"
')" )'2*" (D+%'(&" +'" ,DE-" D" &D+-11%+-" 1D2(I," )DI%1%+@O92+" /%+,%(" D" /--C" GD" (-/&" %+-3"
'*%B%(D+-?" " )*'3" +,-" 7<#" " &D@%(B" +,D+" 8" ,D?" D" )-/" 3'(+,&" " +*D((%(B&" D+" .#<#" O8("
B-*3D(@" +,-@"I1D%3-?" +,D+" +,-"/%(?" +2((-1" +-&+"/D&"ID**%-?"'2+" %(" +,-%*" )DI%1%+@" GD(?"&'"
+,-@",D?"%(?%*-I+1@"-(D>1-?"+,-"1D2(I,O"
W,-(" /-" ,-D*?" +,-" (-/&" D>'2+" " +,-" *-DI+%'(" ')" +,-" /-&+-*(" &I%-(+%&+&G"
+-I,('1'B%&+&" D(?" +,-" A*-&&" +,-" B-(-*D1" X-&A'(&-" ')" 3@" +-D3" ')" &I%-(+%&+&" D(?"
+-I,('1'B%&+&" D+" $%C*D3" <D*D>,D%" <ADI-" H-(+-*" M$<<HN" GU*%ED(?*23" " /D&" '(-" ')" +,-"
B*-D+"D32&-3-(+"OW-"C(-/"+,D+"+,'2&D(?&"')"&I%-(+%&+&"G-(B%(--*&"D(?"&+D))",D?"/'*C-?"
'("+,-"A*'a-I+")*'3"+,-"?*D/%(B">'D*?"+'"+,-"?-E-1'A3-(+"&+DB-"D(?"*%B,+"+,*'2B,"+%11"+,-
=PV"
1D2(I,"OU,-"+-I,('1'B@"/D&"I'3A1-+-1@"%(?%B-('2&"OU,-""<F$"2&-?"A*'A'*+%'(D1"I'(+*'1"
&@&+-3&"/%+," D" &,D*%(B" 1'B%I" &')+/D*-" OU,%&"/D&" D" )%*&+" %(" +,-"/'*1?"<%3%1D*1@" G/-" ,D?"
3D?-"'+,-*"%(('ED+%'("%("I'3AD*%&'(""+'"D(@"1D2(I,""E-,%I1-"D+"+,D+""A'%(+"')""+%3-"O#&")'*"
+,-"<I'2+" G+,-"#3-*%ID("&D+%-11%+-" 1D2(I," )*'3"/,%I,"'2*" +-I,('1'B@"/D&"D11-B-?" +'">-"
1%)+-?" G'(1@" " +,-" )%)+," 1D2(I,"')" +,-"<I'2+",D?"A*'E-?" &2II-&&)21O8(" +,-"I'3AD*%&'(" G'2*"
&-I'(?" G+,%*?" D(?" )'2*+," 1D2(I,-&" /-*-" D11" &2II-&&)21" OU,%&" %&" D" A'%(+-*" +'" " +,-"
+-I,('1'B%ID1"&+*-(B+,"')"'2*"(D+%'(&"O"
#BD%("G"/,-("8"/D&"%(E'1E-?"%("+,-"62%?-?"0%&&%1-"A*'B*D33-"D(?"/-"&2II-&&)211@"
1D2(I,-?" +,-" 4*%+,E%" 3%&&%1-" &-E-*D1" +%3-&" G/-&+-*(" A*-&&" %(I12?%(B" &'3-" ')" '2*" '/("
D(D1@&%&" %(&%&+-?" +,D+" /-" /-*-" 2&%(B" D" X2&&%D(&" +-I,('1'B@" O" 8(" )DI+" G4*%+,E%" ,D?" D"
?%&+%(I+%E-" ?-&%B(" G2&%(B" D" AD*+%I21D*" B@*'" &@&+-3"/%+," D" 2(%b2-1@" I'()%B2*-?" &')+/D*-"
G/,%I," ('>'?@" %(" +,-"/'*1?" ,D?" +*%-?" g/,-(" +,-" )1%B,+" %&" %(" A*'B*-&&" G+,-" ?*%)+" ID(" >-"
3'(%+'*-?"+,*'2B,"+,-"'(c">'D*?"I'3A2+-*"O8+",D?"'+,-*"%(('ED+%'(&"+''^"+,-"+@A-"')"+,*2&+"
+-*3%(D+%'("%&"&'"%(('ED+%E-1@"I'()%B2*-?"+,D+")'*"D"321+%A1-"AD@1'D?"G321+%A1-"*D(B-&""ID("
>-"DI,%-E-?"OU'?D@"G4*%+,E%"%&"I'3AD*D>1-"+'"D(@"/'*1?cI1D&&"%("AD@1'D?"IDAD>%1%+@"O"
F-+"2&"I'3-"('/"+'"D"+,%*?"GE-*@"%3A'*+D(+"3%1-&+'(-"G(D3-1@"#B(%"%("!\V\"D(?"%+"
/D&"&2II-&&)21OW-",DE-"<'" )D*"?'(-"+,*--" 1D2(I,-&" O<2*A*%&%(B1@" GDBD%("+,-*-"/-*-"+/'"
I1D%3D(+&" /,'" /D(+-?" +'" +DC-" I*-?%+" )'*" +,-" &2II-&&O6-*3D(@" &D%?" +,D+" +,-%*" B2%?-?"
&@&+-3"/,%I,"/D&"2&-?" )'*"&I%-(+%)%I"-fA-*%3-(+&" %("8(?%D",D?"B'(-" %(+'"+,-"3DC%(B"')"
#B(%" O#(?" +,-"7<#"I1D%3-?" " DBD%(" +,D+"3@".#<#" +*D%(%(B" "/D&" *-&A'(&%>1-" )'*"#B(%"
O#I+2D11@"G%("#B(%G+,-*-"/-*-"%(('ED+%'(&"3D?-"%("+,-"I'3A1-+-"*-c-(+*@",@A-*&'(%I")1'/"
/D&"&%321D+-?"%("+,-"H'3A2+D+%'(D1"_12%?"J@(D3%I&"%("'(-"')"+,-">-&+"I'3A2+-*&"+,D+"/-"
'2*&-1E-&" ,D?" ?-&%B(-?OU,-" *-c-(+*@" &+*2I+2*-" G%(" )DI+" G,D&" 2&-?" D" &A-I%D11@" ?-&%B(-?"
3D+-*%D1"+'"/%+,&+D(?""+,-"PQKK"'" H",-D+"B-(-*D+-?"2A'("*-c-(+-*%(B"+,-"D+3'&A,-*-"O8+"%&"
'(1@" /%+," +,-%*" +-I,('1'B@" G+,D+" 8(?%D" ID(" &2II--?O" X-I-(+1@" " +/'" ?-AD*+3-(+&" G+,-"
J-AD*+3-(+&" ')" #+'3%I" 5(-*B@" D(?" +,-" JXJ:" G/'*C%(B" %(" D(" -fI-11-(+"
4D*+(-*&,%AG+-&+-?" &-E-*D1" (2I1-D*" ?-E%I-&" %(" 4'C,*D(" OU,*--" +-&+&" /-*-" ID**%-?" '2+"
&%321+D(-'2&1@" g+,-*-"/-*-"+/'"0'*-"+-&+&"&2>&-b2-(+1@" OW-",D?"-fI-11-(+"*-&21+&" G/-11"
*-A'*+-?"2(%E-*&D11@" ">@"(-D*1@"!=Q"&-%&3%I"&+D+%'(&" OU,%&"8(?%ID+-&" +,D+",D&"*-DI,-?"+,-"
&+DB-"')"(2I1-D*"/-DA'(%dD+%'("OW-"/-*-"-f+*-3-1@",DAA@"/%+,"'2*"DI,%-E-3-(+"O92+"+,-"
(-f+"?D@""/-" )'2(?"+,-"/-&+-*("A*-&&"D11-B%(B"+,D+"8&*D-1%" +-I,('1'B@",D?"B'(-" %(+'"+,-
=P\"
+*%BB-*%(B" &@&+-3"')" +,-" (2I1-D*" ?-E%I-OU,-*-"/D&" D1&'" +,-" )D3%1%D*" DII2&D+%'(" +,D+" +,-"
&I%-(+%&+&" D(?" +-I,(%I%D(&" /,'" ,D?" E%&%+-?" +,-" 7<#" ,D?" ,-1A-?" 8(?%D" DI,%-E-" +,%&"
>*-DC+,*'2B," OU,%&"/D&"321+%A1-" %(('ED+%'(" ,DE-"B'(-" %(+'" +,-"(2I1-D*" +-I,('1'B@" D(?"
(2I1-D*"?-E%I-"+-&+%(B"D*-DO"
8(" D11" )'2*" ')" +,-&-" ID&-&G8" /D&" )'*+2(D+-" +'" >-" I'(+%(2'2&1@" %(E'1E-?" ?%*-I+1@" '*"
%(?%*-I+1@"%("ED*%'2&"+-D3&"')"8<X:"GJ#5#"D(?"JXJ:O8")%(?"3@&-1)"D&C%(B"/,@"%("&A%+-"
')" %(('ED+%E-"D(?"-fI-11-(+"?-&%B("IDAD>%1%+%-&" %(" 8(?%DGD(" %3A*-&&%'(&" %&"I*-D+-?">@"+,-"
+,D+"('"'(-"'+,-*" +,D("+,-"?-E-1'A-?"(D+%'(&"ID("DI,%-E-"&2I,"+-I,('1'B%ID1"-fI-11-(I-"
O[2&+" D&" +,-*-" ,D&" >--(" D" *DI%D1" -1-3-(+" %&" -(+-*%(B" %(+'" +,-" +-I,('1'B%ID1" D*-(D"
+''OJ-E-1'A-?" (D+%'(&" )--1" +,D+" '(1@" +,-@" D*-" IDAD>1-" ')" ?-E-1'A%(B" I-*+D%(" +@A-&" ')"
D-*'&ADI-"G3%&&%1-"D(?"(2I1-D*"+-I,('1'B@"O92+"/-"&,'21?"%B('*-"+,%&"D(?"B'"D,-D?"/%+,"
'2*"+-I,('1'B@"?-E-1'A3-(+O
=TK!
?@0A=;B!C&"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii!
T$&)1X167!*+$!Y1.1-6!
V!+&?$!)$*!*-!5.$!*+$!4-#0!Z12/-..1,)$W!41*+!*+$!7#$&*$.*!'&5*1-6;!
<[$#6+$#!Y-6!I#&56"
#" E-*@" ,%B," 1-E-1" I'33%++--" G/'*C%(B" '(" D" 3D++-*" ')" E%+D1" %3A'*+D(I-" )'*" 8(?%D" G'(I-"
ID11-?"D"A*-&&"I'()-*-(I-"+'"&,D*-" +,-%*")'*+,I'3%(B"*-I'33-(?D+%'("/%+,"3-?%D"A-*&'(&"
O#"@'2(B"*-A'*+-*"B'+"2A"D(?"D&C-?"GYW-",DE-"&--(""'*",-D*?"')"3D(@"&2I,"*-A'*+&"OW,-("
/%11" DI+%'(" >-" +DC-(" '(" +,-3" eYU,-" I,D%*3D(" ')" +,-" I'33%++--" BDE-" D(" -ED&%E-"
*-A1@OU,-("D"3-3>-*"')"+,-"I'33%++--"%(+-*E-(-?"GYW-"B-(-*D+-"3D(@"*-A'*+&"OU,-*-"D*-"
3D(@"*-A'*+-*&"1%C-"@'2"+'"*-A'*+&"+,-"(-/&"OX-A'*+&"D(?"*-A'*+-*&"k ?'"/-"(--?"DI+%'("O"
<'3-,'/"'E-*"+,-"@-D*&"G/-",DE-"?-E-1'A-?"D",D>%+"')"B%E%(B"1'/"A*%'*%+@"+'"DI+2D1"
DI+%'("'("+,-"B*'2(?"O:)+-("A-'A1-"D*-"C--("'("B-++%(B"",2B-"A2>1%I%+@"%("+,-"(-/&ADA-*&"
'*"+,-"-1-I+*'(%I"3-?%D"G/,%1-"D(('2(I%(B"+,-%*"A*'B*D33-&"'*"A'1%I-&O42>1%I"3-3'*@"%&"
&,'*+"O.'>'?@">'+,-*&"+'"D&C"/,-+,-*"&'3-+,%(B"%&">-%(B"?'(-"+'"83A1-3-(+"+,-3"-E-("
D)+-*"D"@-D*"s<+%11"G+,-*-"D*-"D"(23>-*"')"A-*&'(&"/,'"?'"C--A"A2&,%(B"DBD%(&+",-DE@"'??&"
+'" ?'" &'3-+,%(B" I'(I*-+-O9-ID2&-"')" +,-3" G+,-*-" %&" &'3-"A*'B*-&&" %(" '2*" I'2(+*@" OW-"
/'21?"1%C-"+'"&--"+,D+"%("+,-""I'3%(B"@-D*&"DI+2D1"DI,%-E-3-(+&"%("+,-"U8_#H"U-I,('1'B@"
$%&%'("=K=K"*-A'*+&"ID("+,-"I'2(+*@">-"B-D*-?"2A")'*"DI+%'("+'"*-D1%d-"+,-"(-/"E%&%'(")'*"
8(?%D" =K=K" eW-" >-1%-E-" +,D+" %+" ID(O4-'A1-" "3D@" D&C"/,@"/-" +,%(C"/%11" >-" DI+%'(" ('/"
G/,-("-D*1%-*"+,-*-"/D&"D"*-1D+%E-"&1DICOU,-"D(&/-*G/-">-1%-E-"G1%-&"%("DAA*-I%D+%(B"+,D+"D"
1D*B-" AD*+" ')" '2*" A'A21D+%'(" %&" @'2(B" )'*" +,-3" O9-&%?-&" G-E-(" +,'&-" /,'" ,D?" " -D*1%-*"
/'*C-?" )'*" h>1'IC%(BY" &'3-" %(%+%D+%E-&" /'21?" 1%C-" +'" &--" D(" h'A-(%(B" 2AYOU,-" -D*1%-*"
&@&+-3" /,-*->@" D11" %(%+%D+%E-&" /-*-" 1-)+" +'" D" )-/" ?-AD*+3-(+&" %(" .-/" J-1,%" ,D&" )D&+"
2(?-*B'(-" D" I,D(B-" OU,-" 1%I-(-cA-*3%+" kb2'+D" *Da" ,D&" " >--(" &2>&+D(+%D11@" ?%&3D(+1-?"
OU,%&" ,D&" 2(1-D&-?" D" 1D*B-" D3'2(+" -(+*-A*-(-2*%D1" +D1-(+" D(?" D?E-(+2*'2&" &A%*%+" %("
8(?%DO0D(@""@'2(&+-*&" "D*-"A*-AD*-?"+'"-fA1'*-"(-/""DE-(2-&"')"/'*C"D(?"-3A1'@3-(+"
D(?""('+"/D%+")'*"D"&-I2*-"a'>"%("6'E-*(3-(+OU,-"-fA1'&%E-""B*'/+,"%("+-1-E%&%'("G+,D(C&"
A*%3D*%1@""+'"&D+-11%+-"I'332(%ID+%'("G-fA'&-&"OW-">-1%-E-"+,D+"D"&AD+-"')"DI+%'(&"/'21?"
)'11'/"D1'(B"+,-"1%(-&"/,%I,"/%11">-"?-&I*%>-?",-*-O!
%!B;>=0=;1;6=!9J!=@;!FD>D96
=T!"
F-+"2&",DE-"D">*%-)"'E-*E%-/"')"+,-"E%&%'("/,%I,"/-"-(E%&DB-")'*"'2*"A-'A1-"
Ø" 8(?%D"&,'21?">-I'3-"D"?-E-1'A-?"(D+%'(">@"=K=K"
Ø" #"?-E-1'A-?"8(?%D"3-D(&"+,D+"8(?%D"/%11">-"'(-"')" +,-")%E-">%BB-&+"-I'('3%I"
A'/-*&" G,DE%(B" &-1)k*-1%D(I-" %(" " (D+%'(D1" &-I2*%+@O#>'E-" D11" G+,-" (D+%'(&" /%11" >-"
,DE-"D"&+D(?%(B"%("/'*1?"-I'('3%I"D(?"4'1%I%D1")'*"DO"
Ø" U'"DI,%-E-"+,%&"&+D+2&" G&-E-*D1"&+-A&"D*-"+'">-"+DC-(" %("DB*%I21+2*-"&2I,"D&"3DC%(B"
-D&+-*("8(?%D"D"B*D(D*@"D(?"%(I*-D&%(B"+,-"2&-"')",@>*%?"*%I-"GD&"D1&'")'*"%3A*'E%(B"
+,-"'+,-*"A*'?2I+&O5(E%*'(3-(+D1"""H'(&%?-*D+%'(&"%("DB*%I21+2*-"BD%("D++-(+%'("O"
Ø" HDA%+D1%d-" '(" +,-" DB*%I21+2*D1" I'*-" &+*-(B+,&" +'" -&+D>1%&," " D" 3Da'*" ED12-" k"
D??%(B""DB*'"k)''?"
8(?2&+*@">D&-?"'("I-*-D1&G3%1CG)*2%+&GD(?"E-B-+D>1-&"G+'"
B-(-*D+-"?'3-&+%I"/-D1+,"O#1&'"G"
0DC-"8(?%D"D"3Da'*"-fA'*+-*"')"ED12-cD??-?"DB*'c)''?"
A*'?2I+&"O#B*'"k)''?"%(?2&+*@"
D(?"?%&+*%>2+%'(""&@&+-3&"&,'21?"%(I*-D&%(B1@"A*'?2I+%E-"D(?"
-))%I%-(+"DB*%I21+2*-O"
Ø" #"(23>-*"')"-(B%(--*%(B""%(?2&+*%-&"D(?"&-*E%I-">2&%(-&&-&"+'"B*'/"D*'2(?"
+,-"DB*'"k)''?"
<-I+'*"
Ø" 8(?%D" +'" IDA%+D1%d-" '(" +,-" ED&+" 3%(-*D1" /-D1+," +'" -3-*B-" D&" D" 3Da'*"
+-I,('1'B%ID1" B1'>D1"A'/-*" %(" ED*%'2&"D?ED(I-?" D(?"I'33-*I%D1"3D+-*%D1&"
^&+--1"G+%+D(%23GD123%(%23G*D*-"-D*+,&O"
Ø" 8(?%D(" I,-3%ID1" %(?2&+*@" +'" >-" +*D(&)'*3-?" %(+'" D" B1'>D1" +-I,('1'B%ID1"
%(('ED+'*"%( I1-D("
4*'I-&&-&" D(?"&A-I%D1%+@" I,-3%ID1&" GD(?" (-/"?*2B&"D(?"A,D*3DI-2+%ID1&" gD"
3Da'*">2&%(-&&"
<,'21?" >-" I*-D+-?g8(?%D(" 3D*%(-" *-&'2*I-&" D*-" +'" >-" +*D(&)'*3-?" %(+'"
-I'('3%I"&+*-(B+,"
Ø" U,-*-" %&" +'" >-" D" *-&'2*I-&" ')" 8(?%D(" -(B%(--*%(B" " %(?2&+*@" ^3DI,%(-"
+''1&G+-f+%1-&"G)'2(?*@G
=T="
-1-I+*%ID1" G3DI,%(-*@" GD(?" +*D(&A'*+" k-b2%A3-(+" O8(?%D" %&" +'" >-I'3-" D" (-+"
-fA'*+-*"')"
+-I,('1'B@" >@" =K!K" %(" +,-&-" D*-D&" D(?" D(" %3A'*+D(+" /'*1?" 1-D?-*" %("
-3>'?%-?"&')+/D*-"
)%-1?"')")1-f%>1-"3D(2)DI+2*%(B"D(?"%(+-11%B-(+"3D(2)DI+2*%(BO"
Ø" 8(?%D"&,'21?"-3-*B-"D&"D"B1'>D1"1-D?-*"%("+,-"&-*E%I-&"&-I+'*"/%+,"%+&"ED&+"D(?"
&C%11-?",23D("
*-&'2*I-&" >D&-" >-%(B" %+&" I'*-" &+*-(B+,OU,-" &-*E%I-&" /%11" *D(B-" )*'3" +,-"
&%3A1-"+'"+,-"3'&+"
&'A,%&+%ID+-?"'(-&"2&%(B"+,-"-3-*B%(B"?%B%+D1"*-E'12+%'(OU,-"&-*E%I-&"&-I+'*"
%&"('+""'(1@"+'">-D"3'(-@ k&A%((-*">2+"/%11"D1&'"-3A1'@"D"B''?"A*'A'*+%'("')"
'2*"A-'A1-"3')+-("%("&-1)"
&C%11&"+'"&2A-*"+'"&2A-*"&C%11&"
Ø" W,%1-"8(?%D""(--?&"+'"AD@"3'&+"D++-(+%'("+'"3DC%(B",-*"D"?-E-1'A-?"I'2(+*@"
GD++-(+%'(" &,'21?" D1&'" >-" AD%?" +'" +,-" &+*D+-B%I" &-I+'*&OU,-" I'()12-(I-" ')"
I%E%1%D("D(?"?-)-(I-"+-I,('1'B%ID1" %&" 1-D?%(B"+'"D"&%+2D+%'("/,-*-"3'&+"(-/"
+-I,('1'B%-&"D*-">D&%ID11@"h?2D1"2&-Y"
8("(D+2*-"O#"ID*>'(""I'3A'&%+-"3D+-*%D1"ID("B'"%(+'"3DC%(B"D"+-((%&"*DIb2-+"
'*"D"_X:"kIDA1%A-*"?-E%I-")'*"A'1%'cD))-I+-?"AD+%-(+&"D(?"D1&'")'*"D"3%&&%1-"
&@&+-3O#" I'3A2+-*" ID(" ?'" &%321D+%'(&" )'*" D" I%E%1%D(" A*'?2I+" G)'*" *DA%?"
A*'+'+@A%(B" '*" +,-" &2%+D>%1%+@" ')" 3D*C-+" I'(?%+%'(&" )'*" D" )2+2*-" D%*I*D)+" '*"
/-DA'(" A-*)'*3D(I-OU,-&-" g?2D1" +-I,('1'B%-&Y" D*-" I1'&-1@" B2D*?-?" >@" +,-"
?-E-1'A-?"I'2(+*%-&"2(?-*"+,-"A*-3%&-"')"('(cA*'1%)-*D+%'("')"
.2I1-D*""/-DA'(&"D&"/-11sU,-&-"/%11" 1-D?"+'"?'3-&+%I"D(?")'*-%B(">2&%(-&&"
'*?-*&")'*"8(?%D("I'3AD(%-&"-E-("/,-("+,-@"D*-"('+"(-I-&&D*%1@")'*"+,-"2&-"
')" 8<X:GJXJ:" '*" +,-" D+'3%I" 5(-*B@" J-AD*+3-(+&" OU,-" ED12-" D??%+%'(&"
/'21?">-"E-*@",%B,OU'"I'(+%(2-"D&"D("-I'('3%I"A'/-*"G+,-*-)'*-"8(?%D",D&"
+'"3D&+-*"+,-"&+*D+-B%I"+-I,('1'B%-&"D&"/-11"O+,'2B,"%("
U,-"&,'*+"*2("+,-@"DAA-D*" +'">-",%B,cI'&+"+-I,('1'B%-&" O_'*+2(D+-1@" O8(?%D(" 1D>'*D+'*%-&"
D(?" %(?2&+*%-&",DE-"D("-fI-11-(+">D&-" %("+,-&-"+-I,('1'B%-&"D(?",DE-"D&&23-?"D" 1-D?%(B"
A'&%+%'("B1'>D11@" %("D"(23>-*"')"D*-D&"')" O0D+-*%D1&G"-1-I+*'(%I&G"A*'A21&%'(G"&%321D+%'(G
=TP"
D3'(B" '+,-*&O" 8(?%D" (--?&" +'" )2*+,-*" &+*-(B+,-(" +,-&-" D*-D&" /%+," I'(I*-+-" 3%&&%'(&"
)'I2&-?"'(" ?2D1" 2&-" IDAD>%1%+%-&O"U,D+" %&G" +'" ?-E-1'A" D" B-(-*%I" +-I,('1'B@" " I'33'(" +'"
?-)-(I-" " " " /,%1-" &%321+D(-'2&1@" ?-E-1'A%(B" 321+%A1-" I%E%1%D(" " DAA1%ID+%'(&" '(" D"
I'33-*I%D1" &ID1-O" U,-*-)'*-G" %+" %&" (-I-&&D*@" " +'" ?*D/" " 8(?%D(" %(?2&+*@G" -&A-I%D11@" " +,-"
A*%ED+-" &-I+'*G" %(+'" +,-&-" " ,%B,c+-I," D*-D&" ('+" "3-*-1@" )'*" )D>*%ID+%'(" " >2+" )'*" ?-&%B(G"
?-E-1'A3-(+G"A*'?2I+%'(G""3D*C-+%(B"D(?"A'&+c&D1-"&-*E%I-&O"8(?%D"&,'21?""D1&'"-3-*B-"D&"
D" 3Da'*" -fA'*+-*" ')" A*'?2I+&" D(?" &-*E%I-&" *-&21+%(B" )*'3" %+&" IDAD>%1%+%-&" %(" ,%B," k+-I,"
D*-D&O
•" U,-",-D1+,"')"D11"'2*"A-'A1-"%&""E%+D1"-E-("/,%1-"/-"D*-A2*&2%(B"+,-"D11c*'2(?"*DA%?"
B*'/+,"')"+,-"-I'('3@D(?""+-I,('1'B%ID1""A*'/-&&O"4-'A1-Y&",-D1+,"1-D?&"+'">-++-*"
-I'('3%I"D(?"&'I%D1"A*'B*-&&O"0D(@""*-I-(+"+-I,('1'B%ID1""%(E-(+%'(&""D*-"3DC%(B"
%+""A'&&%>1-"+'"*-DI,",-D1+,""&-*E%I-&""+'"D11O"&-(&'*&"D(?"%()'*3D+%'("+-I,('1'B%-&"
%(" AD*+%I21D*G" D*-" 3DC%(B" %+" A'&&%>1-" )'*" DII-&&" ')" &A-I%D1%&+" D++-(+%'(" +'" -E-("
*-3'+-" D*-D&cA'A21D*1@" ID11-?" h+-1-"3-?%I%(-Y" O8(?%D" &,'21?" D++-(?" +'" &,'*+c+-*3"
*DA%?" DI+%'(" D(?" -3-*B-" D&" D" (D+%'(" /%+," -fI-11-(+" ,-D1+," &-*E%I-" I'E-*" /,%I,"
/'21?" >-" D(" -fD3A1-" ,-D1+," &-*E%I-" I'E-*" /,%I," /'21?" >-" D(" -fD3A1-" +'" +,-"
/'*1?O
•" 8("'*?-*"+'"DI,%-E-"+,-"E%&%'("G""&-E-*D1"I*2I%D1"DI+%'(&(--?"+'">-"+DC-("+'"-(&2*-"
&A--?%-*"B*'/+,"')%()*D&+*2I+2*-^"-(-*B@G"b2D1%+@"-1-I+*%I"A'/-*"%(AD*+%I21D*G*'D?&G"
/D+-*/D@&G" " D%*/D@&G" +-1-I'332(%ID+%'(GA'*+&G" -+IO" <-E-*D1" &,'*+c+-*3"3-D&2*-&"
D(?"&'3-"2(I'(E-(+%'(D1" &+-A&"(--?"+'">-"+DC-(O"U,-" 1'(Bc+-*3DI+%'("&,'21?">-"
D%3-?"D+"A*'E%?%(B"/'*1?cI1D&&")DI%1%+%-&)'*"D11"AD*+&"')"8(?%DOX2*D1"I'((-I+%E%+@"%&"
I*2I%D1"-E-(%("+,-"&,'*+"*2("%)"+,-"">''3"%("DB*%I21+2*-"D(?"DB*'c)''?"&-I+'*"%&"+'"
>-""2+%1%d-?"")211@O8("D??%+%'("G+,-"A*'B*-&&"%("%()'*3D+%'("+-I,('1'B%-&"%&" 1-D?%(B"
+'" +,-" A'&&%>%1%+@" ')" E-*@" D?ED(I-?" /'*1?cI1D&&" %(?2&+*%-&" D(?>2&%(-&&-&" >-%(B"
-&+D>1%&,-?" %(" D" E%11DB-OR%B,1@" I*-D+%E-A*'a-I+&" %(" &')+/D*-G" %()'*3D+%'("
+-I,('1'B@G"?-&%B(D(?"'+,-*"I*+-D+%E-""/'*C"ID(" %(" )DI+">-">-++-*"?'(-" %("D"*2*D1"
-(E%*'(3-(+"/,%I,",D&"B''?" )DI%1%+%-&"D(?"B''?")DI%1%+%-&"D(?"B''?I'((-I+%E%+@O"
U,-"A-*&'(&""/,'"1%E-"+,-*-""&,'21?",DE-"DII-&&+'"+,-"1D+-&+"%()'*3D+%'("DED%1D>1-"
B1'>D11@" %)" +,-@" ,DE-" +'>-" I*-D+%E-" D(?" I2**-(+O" <2I," I'((-I+%E%+@" ID(" >-
=TT"
A*'E%?-?>@" -1-I+*'(%I" 3-D(&" -E-(" +'?D@O" U,2&G" +,-*-" %&" D" +*2-A'&&%>%1%+@" " " " ')"
3D(@" ')" '2*" /-11cI'((-I+-?" " *2*D1" D*-D&>-I'3%(B" /'*1?cI1D&&" I-(+-*&" ')"
-fI-11-(I-"D(?"D1&'"3DC%(B"
)'*"D"1'+"')"ED12-cD??-?""-fA'*+&"'*"E%B'*'2&""?'3-&+%I>2&%(-&&G">-&%?-&"B%E%(B""2&")''?"
D(?" '+,-*" " A*'?2I+&" /,%I,('*3D11@" I'3-" " )*'3" *2*D1" D*-D&O" U,-*-" D*-" D1&'" -fI-11-(+"
A'&&%>%1%+%-&" " +,D+" &2I," /-11cI'((-I+-?" *2*D1" D*-D&" 3D@" >-,'&+" +'" D" (23>-*" ')"
>%'+-I,('1'B@" )DI+'*%-&" /,%I," /%11A*'?2I-" ED12-cD??-?" (D+2*D1" A*'?2I+&" " )'*" &D1-"
B1'>D11@O92+"D11"+,-&-"D*-"A'&&%>1-"'(1@"/%+,""D("-fI-11-(+"*2*D1I'((-I+%E%+@""/,%I,"3-D(&"
B''?" *'D?&G" +-1-I'332(%ID+%'(&" D(?" " ')" I'2*&-G" " " b2D1%+@" -1-I+*%I" " A'/-*O6%E-(" +,-"
?-E'12+%'("')"A'/-*"+'"+,-""AD(I,D@D+&G"+,-@"ID(D1&'""A1D@"D"3Da'*"*'1-G"/%+,"I'3A-+%+%'("
D&"/-11"D&I''A-*D+%'("">-+/--("+,-"E%11DB-"AD(I,D@D+"-(,D(I%(BA-*)'*3D(I-O.'/G"1-+"2&"
1''C" D+" ,'/" +,%&" E%&%'(" ID(" >-" *-D1%d-?" D(?" /,'" D11W%11" ,DE-" +'" A*'A-1" %+" +'/D*?&"
)21)%113-(+O!
R-B!07=D96>"
9-)'*-"/*%+%(B"+,%&"I,DA+-*"/-",D?"D"1'+"')"?%&I2&&%'("D3'(B&+:2*&-1E-&"D>'2+"+,-"DI+%'("
+'">-"2(?-*+DC-(O"W-"D1&'",D?"" +,-9-(-)%+"')"?%&I2&&%'(&"/%+,"3D(@"A-'A1-G")*'3"/-11c"
-?2ID+-?R'2&-/%E-&" +'" A*')-&&%'(D1&" D(?" +'" &'I%D1" &I%-(+%&+&" %(" +,-" )%-1?&')" ,%&+'*@G"
A&@I,'1'B@" D(?" -I'('3%I&O" W-" D1&'" &A'C-" +'" D(23>-*" ')" h'*?%(D*@Y" A-'A1-" /,'" D*-"
I'(I-*(-?""D>'2+"8(?%DGD&"D1&'"/%+,"&'3-"@'(B&+-*&"D(?"D")-/""A'1%+%I%D(&O"J*""CD1D3,D?"
+,-">-(-)%+"')"?%&I2&&%'(&"/%+,"D"(23>-*"')"+,'&-"/,'/-*-"D(?"D*-"%("A'/-*O"5E-*@/,-*-"
+,-*-"/D&"D""B-(2%(-%(+-*-&+"+'"DI+G"+'">*-DC"+,-"E%I%'2&"I@I1-"')"A-&&%3%&3"D(?%(DI+%'(O"
R'/-E-*G" D"3Da'*" >2+" 2(&+D+-?" " A*'>1-3" %&" ,'/" " +'" %(%+%D+-&2I," DI+%'(O"U,-*-"/-*-" " D"
(23>-*"')"&2BB-&+%'(&")'*"'+,-*&"+'DI+"2A'("^"&'3->'?@"&,'21?"/*%+-"D"*-A'*+"'*"&,'21?"
I'(E-(I-D"3--+%(B"'*",'1?"D"/'*C&,'A"'*">*%(B"%+"2A">-)'*-"+,-"ID>%(-+'*"&,'21?"/*%+-"+'"
+,-"4*%3-"0%(%&+-*"G"D""I,%-)"3%(%&+-*"G'*"+,-A1D((%(B"I'33%&&%'(O":("'(-"",D(?"G/-"/-*-"
E-*@",DAA@"/%+,"A-'A1-Y&"A'&%+%E-"D++%+2?-"D(?"/%11%(B(-&&""+'"/'*C"")'*""D"(-/E%&%'("")'*"
8(?%DO" 8+" " DAA-D*-?" +,D+"3D(@" A-'A1-"/'21?" >-" *-D?@" +'"3DC-" " &'3-" &DI*%)%I-&O:(" +,-"
'+,-*",D(?G"D)+-*"D"1'+""')"+,%(C%(BG"/-"?-I%?-?"+,D+"/-"&,'21?"('+"A2+")'*+,"D"B-(-*D1"&-+')"
A*'B*D33-&" )'*" DI+%'(O" 6%E-(" +,-" " A*-&-(+" &%+2D+%'(" " %(" " 8(?%DG/-" ID(('+" " -fA-I+" D("
%?-D1G/-11c&@(I,*'(%d-?""&-+"')"DI+%E%+%-&OF''C%(B" ">DIC""D+"8(?%DY&"&+*2BB1-"")'*" +,-")%*&+"
E%&%'(" " )'*8(?-A-(?-(I-G" /-" ?'" ('+" >-1%-E-" +,D+" D11" DI+%'(&" " +''C
=TQ"
A1DI-<%321+D(-'2&1@O4-'A1-" DI+-?" &A'(+D(-'2&1@" G" &'3-+%3-&" -E-(H123&%1@" D(?" +,-"
)*--?'3"3'E-3-(+"/D&" 1D2(I,-?O"W-">-1%-E-+,D+"D11"')"2&" 8(?%D(&" " &,'@1?"DI+2D11@"?'"
&'3-+,%(BO" W-" (--?+'" %(%+%D+-" DI+%'(" /%+," " D(" 'E-*D11" E%&%'(" ')" ?-E-1'A-?"
8(?%DOAD*+%I21D*1@"'("+,-"1%(-&"B%E-("D>'E-O_'*"+,%&G"&'3-"AD*+"')"'2*+%3-"D(?"-(-*B@"+''"
C--A%(B"/%+,"+,%&"E%&%'(OU,-*-"%&"D"+-(?-(I@"%("'2*"I'2(+*@"+'"D?E%&-"'+,-*&O8("D/D@"G"+,%&"
%&"B''?OR'/-E-*" G"/-" >-1%-E-" " +,D+" +,'&-"/,'"D?E%&-&,'21?"D1&'"DI+" O"U,-(" +,-"D?E%I-"
>-I'3-&"32I,"3'*-"-))-I+%E-OW-"?-I%?-?"+,D+"/-"&,'21?"D1&'"+DC-"DI+%'("D(?"%("+,-"AD&+"
+/'@-D*&"/-",DE-">--("?'%(B"+,%&"/%+,%("'2*"1%3%+-?""IDAD>%1%+%-&O:(-"')""'2*"-(?-DE'2*&"
,D&">--("+,-"I*-D+%'("')"D/D*-(-&&"+,D+8(?%D",D&"+'"">-I'3-">%B"D(?"&+*'(BO"#(?"+'"*-DI,"
+,D+" &+D+2&" GW-" ?'" ('+" D1/D@&" " ,DE-" +'" " +DC-" >%B" &+-A&" OU,-*-" D*-" &-E-*D1" " " &3D11&+-A&"
/,%I,"ID("+DC-"+,-"A*-&-(+""8(?%D"+'""D"&+D+2&""')">%B"8(?%DOU,%&" %&"D("%3A'*+D(+"3-&&DB-"
+,D+" /-" ,DE-" >--(" &2II-&&)21" %(I'(E-@%(B" +'" A-'A1-O8(" D??%+%'(" G+,-" U-I,('1'B@"
8()'*3D+%'(_'*-" ID&+%(B" D(?" #&&-&&3-(+" I'2(I%1" MU8_#HN,D&" )'*3-?" DI+%'(+-D3&" +'"
)'*321D+-" I'(I*-+-" A*'a-I+&" %(" 3'&+" &-I+'*&OU,-&-" " /%11" >-I'3-" +,-" " -f-3A1D*&" %(" +,-"
&,'*+"G3-?%23"D(?"1'(B"+-*3O53%(-(+"8(?%D(&"D*-"AD*+%I%AD+%(B"%("+,-&-"DI+%'("+-D3&OW-"
,DE-" +,-" >-(-)%+" ')" >-%(B" AD*+(-*&" %(" +,-" -E'12+%'(" ')" 3D(@&I," A*'a-I+&OW-" D*-" D1&'"
D/D*-"')"+,-""(23>-*"')""A-'A1-"/,'E12(+--*-?""+'"1-D?"D(?">-"3-3>-*&"')"&2I,""DI+%'("
+-D3&O8+%&"D""+,*%11%(B"-fA-*%-(I-O8("3D(@"A1DI-&"/-",DEI"E%&%+-?G3D(@)%(-"&I%-(+%&+&"D(?"
&A-I%D1%&+&"D*-"A2++%(B"&I%-(I-"%("+'"2&-G+'+*D(&)'*3"+,-"1'+"')"+,-"A''*O"<2I,"A-*&'(&",DE-"
&DI*%)%I-?" " +,-%*" '/(" I'3)'*+&" +'" -(BDB-" %(" &2I," DI+%E%+@" )'*" 3D(@" @-D*&OW-" ID11"
+,-3YA2(@D+3D&YMB''?""&'21&NO/-"D1&'")'2(?"+,D++,-*-"D*-""3D(@"D>1-"A-*&'(&"D+"ED*%'2&"
1-E-1&"" %("+,-D?3%(%&+*D+%'(""/,'",-1A"%("+,%&"A*'I-&&OW-"3D@"ID11"+,-3hA2(@D?,%CD*%&YO"
W-",DE-"3-+"D(?"+D1C-?""+'"+,-3OW-",DE-2(?-*&+''?"+,-"+*%D1&"D(?"+*%>21D+%'(&"+,-@"')+-("
B'"+,*'2B,OW-"D1&'"*-I-%E-?"3D(@"B''?"&2BB-&+%'("&")*'3"+,-3O/-"D*-('/"%("&-D*I,"')"
hA2(@D(-+D&YO""""":2*"""a'>"%&"+'"3DC-""+,%&"B'1?-("+*%D(B1-"')! A-6G0=10>V)-6G0,@D80BD>!
06,! A-6G06;=0>" D" /'*C" I'2(+*@/%?-" G&'" +,D+" 1'+" ')" DI+%'(&" ID(" >-" " %(%+%D+-?" " D(?"
A*'3'+-?"D+"+,-"B*D&&*''+&"1-E-1OU,-&-"DI+%'(&"%("I'(a2(I+%'("/%+,"+,-"/'*C"?'(-">@"+,-"
DI+%'(+-D3&"')"U8_#H"ID(""-(I'2*DB-"D"(23>-*"')"?-3'(&+*D+%E-""-))'*+&O"8("D??%+%'("G"
/-" D*-" D1&'" +*@%(B" +'" I'(E%(I-" 3D(@" ')" +,-" DB-(I@" ,-D?&" " +'" 3'2(+" 3Da'*" 3%&&%'(" k"
'*%-(+-?"A*'a-I+&" ?2*%(B" +,-".%(-+," A1D(" A-*%'?" D(?"/-" D*-" D&&%&+%(B" +,-3" %("/,D+-E-*"
/D@"/-"D*-"D&C-?"+'"D(?"/-"ID(O"W-"D*-"A2++%(B"%("-f+*D"-))'*+'("/--C-(?&G",'1%?D@&"D(?
=T]"
-E-(">-@'(?"'))%I-",'2*&"+'",-1A"&2I,"D"A*'I-&&O"W-"ID(('+"I1D%3"+,D+"+,-&-"-))'*+&"D*-"
3--+%(B"/%+," I'3A1-+-" &2II-&&O" U,-" &1'/(-&&" ')" '2*" &@&+-3"3DC-&" 2&)--1" -fD&A-*D+-?"
&'3-+%3-&O"92+""+,-*-"%&"D1&'"D"A'&%+%E-")--1%(B>-ID2&-"+,-*-"D*-"&'3-"/,'"D*-"*-D?@"+'"
3'E-O"W-"D*-",'A-)21O"8(""'2*"'/("/D@G"/-"/%11"I'(+%(2-"+'"A2+"%("'2*"-))'*+&OW-"/'21?"
D1&'"/-1I'3-"&2BB-&+%'(&")*'3"*-D?-*&"'("/,D+"-1&-/-""ID("?'"%("'2*"%(?%E%?2D1"IDADI%+@"
'*"'+,-*/%&-O!
M@0=!!D6,->=BD;>!706!,9"
/,%1-" %(?%E%?2D1" -))'*+" %&" I*2I%D1" G" D('+,-*" B'1?-(" +*%D(B1-G" ')" %(?2&+*@"
GB'E-*(3-(+" D(?" XjJ" %(&+%+2+%'(&G" *-D11@" )'*3&" +,-" >D&-" ')" D" I'2(+*@Y&" ?-E-1'A3-(+O"
U,-@"&-+" %(" +'"3'+%'(+-I,('1'B@c>D&-?">2&%(-&&"DI+%E%+@G"-3A1'@3-(+G"?-3D(?"I*-D+%'("
+,*'2B,"A'1%I%-&"/,%I,"/%11",-1A">2&%(-&&-&G"D(?"D&"D"I'(&-b2-(I-"/-D1+,"I*-D+%'(O"U,%&"
B'1?-(" +*%D(B1-" %&" I*2I%D1" %(" '2*" I'3A-+%(B" %(" B1'>D1" 3D*C-+&G" D&" /-11" D&" %(" >*%(B%(B"
/-D1+,"D(?"A*'&A-*%+@"+'"'2*"A-'A1-O"
RDE%(B" &D%?" +,%&G" 1-+"2&" &--"/,D+"/-" %(I12?-"2(?-*" %(?2&+*%-&O" 8(" " 8(?%D"/-",D?" &-E-*D1"
ID+-B'*%-&"')" %(?2&+*%-&O"U,'&-"/,%I,"D*-"&-+"2A">@"+,-"I-(+*D1"B'E-*(3-(+"D*-"B-(-*D11@"
ID11-?"I-(+*D1"A2>1%I"&-I+'*"2(%+&"M4<7&NO"U,-"4<7&"D*-"+-I,('1'B%ID11@"D(?"3D(DB-*%D11@"
&+*'(BO" U,-(" +,-*-" D*-" D" 1D*B-" (23>-*" ')" &3D11" &%d-?" " &+D+-c1-E-1" " A2>1%I" &-I+'*" 2(%+&"
M4<7&NO"U,-@" )21)%1"E-*@"2&-)21" )2(I+%'(&">2+" +,-%*" +-I,('1'B%ID1" "IDAD>%1%+%-&"D*-"('+"D&"
32I," D&" 4<7&OU,-*-" D*-" D" (23>-*" ')" >%B" A*%ED+-" %(?2&+*@" B*'2A&O"0D(@" ')" +,-3" D*-"
)D3%1@" k'/(-?" D(?" D" )-/" ')" +,-3" D*-" D1&'" A*')-&&%'(D11@" 3D(DB-?" A2>1%I" 1%3%+-?"
I'3AD(%-&O" U,-(" +,-*-" D*-" D" E-*@" 1D*B-" (23>-*" ')" &3D11c&ID1-" %(?2&+*%-&G" &'3-"
-fI-A+%'(D11@"B''?G"&'3-"a2&+"D>'2+""&2*E%E%(BG"D(?"&'3-"/,%I,",DE-"B'(-"2(?-*O"U,-*-"
D*-"D1&'"D"(23>-*"')"321+%(D+%'(D1"I'3AD(%-&M0.H&N"/,%I,"'A-*D+-"%("8(?%D("1D/&"O#11"
+,-&-" " %(?2&+*%-&" " ,DE-" D" ?-)%(%+-" " *'1-" +'" A1D@" O" 8(" D??%+%'(" +'" +,-" -f%&+%(B" " '(-&"3D(@"
3'*-" " /%11" &A*%(B" 2A" %(" +,-" I'3%(B" @-D*&O" <'3-" ')" +,-" -f%&+%(B" '(-&" 3D@" D1&'" I-D&-"
'A-*D+%'(&" " '*" 3D@" " B*D?2D+-" )*'3" '(-" I1D&&" +'" D('+,-*" O"W-" I'(&%?-*" D11" ')" +,-3" D&"
AD*+(-*&"%("+,-"(D+%'(D1""8(?%D("E%&%'("D(?"A*'B*-&&O"R'/-E-*G"D11"')"+,-3"ID(('+">-"?'%(B"
+,-""&D3-"C%(?&"')"DI+%E%+%-&O"U,-&-"/%11"ED*@""&%(I-"+,-%*"IDAD>%1%+%-&G"+,-%*"*'1-&"D(?"+,-%*"
D&A%*D+%'(&"/%11">-"?%))-*-(+O"8+"%&"/%+,"+,%&""%("E%-/"+,D+"/-"&2BB-&+"D")-/"&+-A&"/,%I,"ID("
>-"+DC-(">@"" %(?2&+*%-&" %("?%))-*-(+"ID+-B'*%-&O"#1&'"+'">-"+DC-("%("+'"DII'2(+"D*-"D"1D*B-
=TL"
(23>-*""')"+%(@"2(%+&"%("+,-"%()'*3D1"&-I+'*G"&'3-"')"+,-3">-%(B"D13'&+"I'++DB-c%(?2&+*%-&"
'*"-E-("'(-cA-*&'("%(?2&+*%-&O"
U,-" 4<7&" ,DE-" ?'(-" +,%&" I'2(+*@" A*'2?" '(" D" (23>-*" ')" 'IID&%'(&O" W-" " &,'21?"
*-3-3>-*" +,D+" '2*" I'2(+*@" /D&" ('+" " 3D(2)DI+2*%(B" -E-(" &%3A1-" A%(&" A*%'*" " +'"
%(?-A-(?-(I-O"U,2&" +'" ,DE-"3Da'*" %(?2&+*%-&" +'"3D(2)DI+2*-" &'A,%&+%ID+-?" " -b2%A3-(+G"
3DI,%(-" +''1&G" -1-I+*'(%I" A*'?2I+&" D(?" ?-)-(I-" 3DI,%(-*@" /D&" D" " >%B" ?*-D3O" H-(+*D1"
4<7&"",DE-"""A2*I,D&-?""+-I,('1'B%-&")*'3"D>*'D?G"+'"D"1D*B-"-f+-(+")*'3""+,-"-*&+/,%1-"
&'E%-+"2(%'("G"D(?"D1&'")*'3"D>*'D?"G"+'"D"1D*B-"-f+-(+")*'3"D"(23>-*"')"'+,-*"?-E-1'A-?"
I'2(+*%-&"+'"A2+"8(?%D")%*31@"'("+,-"8(?2&+*%D1"3DAO"U'?D@""3D(@"&'A,%&+%ID+-?"D%*I*D)+"D*-"
3D(2)DI+2*-?"%("'2*"I'2(+*@"+,'2B,"+,-@"D*-"2(?-*"1%I-(&-?"A*'?2I+%'("O"U,%&"IDAD>%1%+@"
B%E-&"2&"+,-"I'()%?-(I-"+,D+"/,-("D("8(?%D(c?-&%B(-?""F%B,+"H'3>D+"""#%*I*D)+"MFH#N"%&"
&2II-&&)211@"+-&+-?"G"8(?%D(" %(?2&+*@"ID("+DC-"2A"A*'?2I+%'(O"U,-"&D3-" %&" +*2-"')"*D?D*&G"
&2>3D*%(-&G"-1-I+*%I"A'/-*"A1D(+&G"'*" " I'3A1%ID+-?"3DI,%(-" +''1&O"R'/-E-*G" %(" +,-"AD&+"
+/'" ?-ID?-&" +,-*-" ,D&" ?-)%(%+-1@" >--(" D" &1DIC-(%(B" %(" 3'&+" ')" +,-" 4<7&G" %(" +,-%*"
+-I,('1'B%ID1" " -))%I%-(I@G" ,23D("A*'?2I+%E%+@" G" *D/"3D+-*%D1" I'(&23A+%'(G"3D(DB-3-(+"
1-D?-*&,%A"'*"-fA'*+"IDAD>%1%+@O"8+" %&"?%))%I21+" +'"A%(A'%(+"/,-*-"+,-"A*'>1-3" 1%-&O":E-*"D"
A-*%'?" /-" ,DE-" B'+" %(+'" D" E%I%'2&" I%*I1-G" ('+" ,DE%(B" +*2&+-?" +,'&-" /,'" /'*C" D(?"
I'(+*%>2+-O"W%+," +,-" -3A,D&%&" '(" I,-IC&" D(?" >D1D(I-&" D(?" A2>1%I" DII'2(+D>%1%+@" G" D(?"
/%+," +,-" >-1%-)" +,D+" 3%I*'cA*'I-?2*-&" D*-" 3'*-" %3A'*+D(+" +,D(" *-&21+&G" D" " &@&+-3" ,D&"
?-E-1'A-?" "/,-*-" +,-" -3A'/-*%(B" A*'I-&&" %&" ('+" )211@" " 'A-*D+%'(D1O"U,-" I,D%*3D(" D(?"
3D(DB%(B"?%*-I+'*"')"D"4<7")--1&" +,D+",-"B-+&" +''"3D(@" %(&+*2I+%'(&" )*'3" +,-"3%(%&+*@g"
+,-"3%(%&+*@"'))%I%D1&" )--1" +,D+" +,-@" ,DE-"B'+">'BB-?"?'/(" %(" ED*%'2&"A*'I-?2*-&"/,%I,"
,DE-">--("&-+2A"+'"3--+"ED*%'2&" ('*3&"')"DII'2(+D>%1%+@O"U,-"A'1%+%I%D(&" %("A'/-*" )--1"
)*2&+*D+-?" " +,D+" +,-" -(+%*-" A*'I-?2*-" ,D&" >-I'3-" &'" 2(/%?-1@" +,D+" +,-@" " D*-" ('+" D>1-" +'"
-))-I+""I,D(B-&"-E-("%("D"")211"+-*3"')")%E-"@-D*&s"U,-*-"%&"D"?-)%(%+-"(--?"+'">*-DC"""+,%&"
E%I%'2&" I%*I1-O" X-I-(+1@G" +,-*-" ,DE-" >--(" " &+-A&" +'" %3A*'E-" " A2>1%I" &-I+'*" -))%I%-(I@O"
W,%1-""/-1I'3%(B"+,-&-"&+-A&G"/-">-1%-E-"+,D+"+,-&-"DI+%'(&"D*-"+''"&3D11")'*"8(?%DO"W-"
,DE-"+'"3DC-"D11"'2*" %(?2&+*%-&" %(+'"*D+(D&"D(?"('+" a2&+")-/O"8+"/%11"*-b2%*-"I'(&%?-*D>1-"
D3'2(+" ')" -3A'/-*3-(+O"W-" D*-" D1&'" D/D*-" +,D+" +,-" I1'&2*-" ')" &'3-" " 4<7&" "/%11" >-"
%(E'1E-?O" U,%&" ID(" >-" ?'(-" >@" +*D(&)'*3%(B" +,-" -f%&+%(B" 'A-*D+%'(&" '*" 3'?-" ')
=TV"
'A-*D+%'(&G" D(?" I,D(B%(B" '*" ?%&ID*?%(B" &'3-" ')" +,-" 1-BD1G" D?3%(%&+*D+%E-" D(?" )%(D(I%D1"
A*'I-?2*D1"&@&+-3&s"
U,-"3D(DB-3-(+&"')"+,-"4<7&"D(?"+,'&-""*-&A'(&%>1-")'*"1D>'2*"D))D%*&"D(?"3D(@"')"
+,-" 1D>'2*" " 1-D?-*&",DE-" +'"+,%(C" ,'/"+,-@"ID(" +*D(&)'*3" +,-3&-1E-&"'*"B-+"*%?"')" +,-%*"
?-D?"/''?G"'*",'/"+,-@"ID(""B-+"*%?"')"+,-%*"/-DC(-&&"D(?"2+%1%d-"+,-%*"&+*-(B+,&"+'"-fI-1"
%(" "'*?-*" +'" *-D1%d-"D" E%&%'(" O"U,-@" " &,'21?" " >-"D>1-" +'"3DC-"D(" %3A'*+D(+"I'(+*%>2+%'("
-E-(" %)">@"3-D(&"')"D"AD*+(-*&,%A"/%+,"D('+,-*"4<7G"D('+,-*" %(?2&+*@" G'*"D(" %(?2&+*@" %("
+,-"&3D11c&ID1-"&-I+'*"'*"D("XjJ"1D>"'*"0.HO!
)3W>U!M@0=!706!=@;G!,9H"
5E-(" " /,%1-" A-'A1-" D*-" /'*C%(B" )'*" +,-&-" 'E-*D11" I,D(B-&" %(" +,-" 4<7" &@&+-3G" /-"
&2BB-&+""+,D+"&+-A&"+'"*-D1%d-"+,-"E%&%'("&,'21?"('+"I-D&-"+'">-"+DC-(O"#")-/">'1?"A-*&'(&"
&,'21?"&+D*+"/'*C%(B"+'/D*?&"&2I,"I,D(B-&"G"D(?"&,'21?">-"&+*'(B"-('2B,"+'"&A-DC"D>'2+"
+,-3O" 8("D??%+%'(" G"3'*-" %3A'*+D(+"-E-("/%+," %(" " +,-"-f%&+%(B"I'(&+*D%(+&G" D" " )-/" " 1%C-c"
3%(?-?"A-*&'(&"&,'21?"D))%*3"+,-%*"*-D?%(-&&"+'"+DC-"DI+%'("D(?")'*321D+-"D")-/"A*'a-I+&"
/,%I,"ID("I'(+*%>2+-"%("?-E-1'A%(B"+,-"+-I,('1'B%ID1"I'*-"&+*-(B+,&"')"8(?%DO"U,-(G"+,-@"
I'21?" /'*C" +'" +*D(&)'*3" +,-" I'*-" &+*-(B+,&" ')" +,-" -(+-*A*%&-" %(+'" /-D1+," /,%I," /'21?"
%(?%*-I+1@" )1'/" +'" +,-" A-'A1-O" <2I," " D" +D*B-+-?" DAA*'DI,"/'21?" (--?" +'" >-" A2*&2-?" >@"
-DI,"')"+,-"4<7&O"8)"/-"3DA""+,-"&+*-(B+,&"')"+,-"42&&"/%+,"*-&A-I+"+'"D"(23>-*"')"%+-3&"
B%E-(" )'*" +,-" U-I,('1'B@" E%&%'(" /,%I," /-" ,DE-" ?-&I*%>-?" %(" +,-" -D*1%-*" I,DA+-*&G" /-"
/'21?")%(?"+,D+"+,-*-"/'21?"D+"1-D&+">-")%E-"A*'a-I+&O"W-"/'21?"&2BB-&+"+,D+"-DI,"4<7"%("
321+%A1-"D*-D&s"U,D+""3-D(&"D"1'+"')"A*'a-I+&"O"W-"/'21?"&2BB-&+"+,D+"-DI,"4<7"+DC-&"2A"
D+" 1-D&+"'(-""3Da'*"A*'a-I+" %("'(-"3Da'*"&-I+'*O"U,%&" %&"D("DAA-D1" +'"+,-"+'A"D(?"3%??1-"
3D(DB-3-(+"D&"/-11" D&" +'"+,-"/'*C-*&"D(?" +,-"3%(%&+*@"'))%I%D1&O" 8)" +,-@" +DC-"D"&%(I-*-"
?-I%&%'(" D3'(B&+" +,-3&-1E-&G" +,-@" ID(" )%(?" +,-" " *-&'2*I-&G" AD*+1@" %(+-*(D11@" D(?" AD*+1@"
)*'3"+,-")%(D(I%D1"3D*C-+&O!
3=0=;! _.;F;.!!)3W>"
02I,"')"/,D+"/-",DE-"&D%?")'*"+,-"I-(+*D1"4<7&"/'21?"D1&'">-"DAA1%ID>1-"+'"+,-"
&+D+-c1-E-1"4<7&O"R'/-E-*"G/-",DE-"+'"*-I'B(%d-"+,-")DI+"+,D+"&+D+-c1-E-1"4<7&""D*-"('+"D&"
&+*'(B"D&"+,-"I-(+*D1 k1-E-1"4<7&"%("+-I,('1'B@G"3D(DB-3-(+"D(?")%(D(I%D1"*-&'2*I-&O"92+"
+,-@",DE-"+,-"D?ED(+DB-"')"/'*C%(B"%("I1'&-"A*'f%3%+@"+'"+,-"A-'A1-"')"+,-"&+D+-"U,%&"%&"D"
&+*-(B+," O" R'/-E-*" G" ')+-(" %(" +,-" AD&+G" 3D(@" B'E-*(3-(+c&2AA'*+-?" &@&+-3&" ,DE-" ('+
=T\"
1-D*(+" +'")%(?"'2+"D(?"+'"1%&+-("+'"+,-"A*'>1-3&"')" +,-"2&-*&"D(?">-(-)%I%D*%-&O"51'>'*D+-"
*21-&" D(?" A*'I-?2*-&" D(?" B2%?-1%(-&" D*-" ?*D/(" 2A" %(" I1'&-?" '))%I-" *''3&O:)+-(" B''?"
%?-D&" D*-B-(-*D+-?" >2+" +,-@" ?'" ('+" *-1D+-" " +'" +,-" *-D1%+%-&" '(" +,-" B*'2(?O" U,2&G" 3'&+"
I'(+DI+""A*'B*D33-&",DE-">-I'3-"*'2+%(-"-f-*I%&-&O"8("&'3-"&-(&-"G"+,-"(-/-*"%?-D&"')"
Y*-&A'(?%(B"+'"3D*C-+Y">D&%ID11@"3-D(&"+,-"(--?"+'"1-D*(",'/"A-'A1-"D*-"*-DI+%(B"G"/,D+"
A-'A1-"/D(+"D(?"/,D+"A-'A1-"-fA-I+O"U,-"&+D+-c1-E-1"4<7&"",DE-"D"E-*@"B''?"A'&&%>%1%+@"
')" )21)%11%(B" +,%&" *'1-" %(" +-*3&"')"A*'E%?%(B"-f+-(&%'("&-*E%I-&"D(?" %(" %(+*'?2I%(B"(-/-*"
A*'?2I+&"')" +-I,('1'B@"B-(-*D+-?">@" +,-3&-1E-&" '*"'+,-*&"D(?"D1&'" )'*"A*'E%?%(B"3D(@"
A'&+c&D1-" &-*E%I-&O" U,%&" 3-D(&" G3D(@" ')" +,-3" ,DE-" +'" +*D(&)'*3" +,-%*" I,D*DI+-*" D(?"
AD++-*("')" "/'*C%(B"D(?"(-+/'*C"/%+,"'+,-*"(D+%'(D1"D(?" %(+-*(D+%'(D1"DI+'*&" %("'*?-*"+'"
A*'E%?-"2&-)21"-I'('3%I"&-*E%I-&"%("+,-"&+D+-G"'2+&%?-"+,-"&+D+-"D(?"-E-("B1'>D11@O"8)"+,D+"
%&" ?'(-G" +,-" >-(-)%I%D*%-&" /%11" >-" 3D(@O" 8(" D??%+%'(G" %+" /%11" D1&'" A*'E%?-" D" (23>-*" ')"
-3A1'@3-(+"'AA'*+2(%+%-&"/%+,%("+,-"&+D+-O"
92+" " " +,-"&+D+-c1-E-1"4<7&"(--?" ('+"I'()%(-" +,-3&-1E-&" +'"3-*-1@"DI+%E%+%-&"/%+," %("
+,-"*-B%'(O"<'3-"')"+,-"&+D+-"k1-E-1"4<7&"ID("D1&'"D&A%*-"+'">-"D&"I'3A-+%+%E-"B1'>D11@"D&"
+,-" H-(+*D1" 4<7&" '*" D(@" '+,-*" A*%ED+-" &-I+'*" %(?2&+*%-&O" 4<7&" /,%I," ID(" *%&-" +'" +,-"
'IID&%'("&,'21?"D%3")'*" +,%&"D(?"&,'21?"('+">-"D)*D%?"')" +,-"3D(@"A*'>1-3&"/,%I,"/%11"
I'3-"%("+,-%*"/D@O"
W-",DE-"&2BB-&+-?"D(?"*-b2-&+-?"+,D+"+,-"H-(+*D1"4<7&"+DC-"2A"D+"1-D&+"'(-"A*'a-I+"
-DI," %(" I%*I2%+" &-I+'*&O" <%3%1D*1@G" %(" +,-" ID&-" ')" &+D+-c1-E-1" 4<7&" %+" 3D@" >-" B''?" %)" D"
I12&+-*"')")-/"4<7&"+DC-&"2A"'(-"A*'a-I+"-DI,"%("D"I*2I%D1"&-I+'*O"U,%&"/%11"-(+D%1"/'*C%(B"
+'B-+,-*O" U,-" A*'A'&D1&" A2+" )'*+," >@" &2I," 4<7&" /%11" ?-)%(%+-1@" B-(-*D+-" -(+,2&%D&3"
+,'2B,"+,-*-"I'21?">-"&'3-"ID&-&"/,-*-"+,-@"I'21?")DI-"?%&I'2*DB-3-(+O"92+"+,-@"&,'21?"
+*@O"<%(I-"&+D+-c1-E-1"4<7&"D*-"E-*@"1D*B-"%("(23>-*G"+,-*-"/%11">-"&-E-*D1"+,'2&D(?"&2I,"
A*'a-I+&"'*"+D&C&O!
ED<!06,!1;,D-1_>Dl;!D6,->=BD;>"
H-*+D%(" A*%ED+-" %(?2&+*%-&" ,DE-" A1D@-?" D(" %3A'*+D(+" *'1-" %(" 8(?%D(Y&"
%(?2&+*%D1%dD+%'("-E-(">-)'*-"%(?-A-(?-(I-O"J-&A%+-"I'(&+*D%(+&"A'&-?">@"+,-"A1D((-?"D(?"
*-B21D+-?"(D+2*-"')" +,-"-I'('3@G"'2*"A*%ED+-"&-I+'*",D&"-fAD(?-?" %("D13'&+"D11" &-I+'*&O"
F%C-" +,-" A2>1%I" &-I+'*G" %+" D1&'" ?-A-(?-?" '(" %3A'*+" ')" +-I,('1'B%-&G" +,'2B," 3D(@"
I'3AD(%-&",DE-"&2>&-b2-(+1@">--("&2II-&&)21"%("%(I*-D&%(B"+,-"1'ID1"I'(+-(+"D&"/-11"D&"%(
=QK"
3D*B%(D1" %(('ED+%'(&" O<'3-"A*%ED+-"&-I+'*" %(?2&+*%-&",DE-"+DC-("&+*%?-&" %("+-I,('1'B%ID1"
?-E-1'A3-(+"D(?",DE-"IDAD>%1%+%-&"/,%I,"D*-"I'3AD*D>1-"+'"+,'&-"')" %(+-*(D+%'(D1" 1-E-1&"
O9@"D(?"1D*B-"G>@"+,-"E-*@"(D+2*-"')"+,-"A*%ED+-"&-I+'*"G+,-*-"%&"D"B''?"?-D1"')"")1-f%>%1%+@"
%(" +,-%*" 'A-*D+%'(&" D(?" +,-@" D1&'" ,DE-" B''?"3D(DB-3-(+" &@&+-3&O" &'3-" ')" +,-" A*%ED+-"
&-I+'*" %(?2&+*%-&" ,DE-" D1&'" %(&+%+2+-?" B''?" +*D%(%(B" A*'B*D33-&" +'" 2AB*D?-" +,-%*"
A-*&'((-1O" 8(" *-I-(+" +%3-&" GD)+-*" +,-" 1%>-*D1%dD+%'(" %(" !\\!G+,-" A*%ED+-" " <-I+'*" &+D*+-?"
A1D@%(B"D("%(I*-D&%(B1@"3Da'*"*'1-"%("+,-"8(?%D("5I'('3@O"U,-"I'(+*%>2+%'("')"+,%&"&-I+'*"
,D&" >--(" *-I'B(%d-?" ('+" '(1@" %(" +,-" I'(&23-*" &-I+'*G" >2+" D1&'" %(" %()*D&+*2I+2*-" D(?"
&+*D+-B%I"%(?2&+*%-&"O8("+,-"I'3%(B"@-D*&"%+",D&"D"3'&+"I*2I%D1""*'1-"%)"8(?%D"%&"+'"*-D1%d-"+,-"
E%&%'(O"<%(I-" %+"?'-&"('+",DE-"+,-""(23>-*"')"A*'I-?2*D1"D(?" %(&+%+2+%'(D1"I'(&+*D%(+&"')"
+,-""4<7&G"/,%I,"/-",'A-"/%11">-"*-3'E-?"%("D")-/"@-D*&"+%3-"G/-")--1"+,D+"+,-"3-?%23"
D(?">%Bc&%d-"A*%ED+-"&-I+'*" %(?2&+*%-&" &,'21?"-DI,"'/("'(-"3Da'*"A*'a-I+" %(" D" &-I+'*" +'"
*-D1%d-"D"E%&%'(")'*"8(?%D"O8+"I'21?">-"%("DB*%I21+2*D1G"%+"I'21?">-"%("DB*'c")''?"A*'I-&&%(B"
G,-D1+,G"3D+-*%D1&"'*"I,-3%ID1&"'*"(D+2*D1"A*'?2I+&"'*"D(@"'+,-*"D*-D"/,%I,"+,-@"+,%(C"/%11"
3DC-")'*"D"&+*'(B"8(?%D("A*-&-(I-"B1'>D11@O"<%(I-"1%I-(&%(B",D&">--(""?%&A-(&-?"/%+,"%("
3'&+" ')" +,-&-" D*-D&G" +,-@" ,DE-" +,-" )*--?'3" +'" I,''&-O"W-" D*-" D/D*-" ')" &-E-*D1" '+,-*"
I'(&+*D%(+&" %("+,-"&@&+-3" %("+-*3&"')" 1D(?"DIb2%&%+%'("'*"-(E%*'(3-(+"I1-D*D(I-"'*"'+,-*"
I1-D*D(I-&"/,%I,"?'"+DC-"+%3-O"F-+"+,%&"('+"?-+-*"+,-3G"-&A-I%D11@")'*"E%&%'("A*'a-I+&O"F-+"
+,-3",DE-"/%+,%("+,-%*"'/("3D(DB-3-(+"&@&+-3"D")D&+"I1-D*D(I-"+*DIC")'*"+,'&-"A*'a-I+&"
I'((-I+-?"/%+,"/,D+"+,-@"+,%(C"/%11"3DC-"8(?%D"D"?-E-1'A-?"I'2(+*@O"U,-@"(--?"('+"-E-("
>-"I'(&+*D%(-?">@"/,D+"/-"&D@"%(""+,%&">''C"'*"D(@"'+,-*">''C&"'*"*-A'*+&"O"
W,%1-"/-"/'21?" 1%C-"+'"&--"1'+"')" " +-I,('1'B%ID1"?-E-1'A3-(+"+DC%(B"A1-D&-" %("
8(?%D"G/-"/'21?"-E-(">-",DAA@"%)"+,-@"ID("B-+"D"a23Ac&+D*+"'("E%&%'(c*-1D+-?"A*'a-I+&"/%+,"
+-I,('1'B%-&"-%+,-*" " )*'3"8(?%D(" 1D>&"'*" %("I-*+D%("ID&-&"/%+," )'*-%B("I'11D>'*D+%'(O"92+"
+,-@"&,'21?">-D*"'(-"+,%(B"%("3%(?^"3DC%(B"D">-B%((%(B"/%+,"%3A'*+-?"+-I,('1'B@"G+,-@"
&,'21?" ('+" >-" &D+%&)%-?" D(?" &+'A" +,-*-O" .'+" &,'21?" +,-@" >-" &D+%&)%-?" /%+," 3D*B%(D1"
+-I,('1'B%ID1" I,D(B-&" /,%I," ID(" 1%3%+" A*')%+&O" U,-%*" B'D1" &,'21?" >-" +'" ,DE-" D" B1'>D1"
A*-&-(I-"D(?"D1&'" +'"'A-*D+-"'("&2I,"D" " &ID1-" +,D+"D" 1D*B-" (23>-*"')" 8(?%D(&"/'21?" >-"
>-(%B,+-?" D(?" " BD%(" -3A1'@3-(+" O8)" -DI," ')" +,-" +'A" D(?" 3-?%23c&%d-?" " %(?2&+*%D1%&+&"
3DC-&"+,%&"?-I%&%'("G+,D+"+,-@"/%11" %3A1-3-(+"+,%&" %**-&A-I+%E-"')"/,D+"'+,-*&"?'G"/-"D*-
=Q!"
&2*-"/%11" >-" ?'%(B" 8(?%D" D(?" 8(?%D(" A-'A1-" D" B*-D+" &-*E%I-O" 8+" %&" ('+" D" &-*E%I-" /%+,'2+"
A*')%+&"-E-("%("+,-"&,'*+"+-*3O"
U,-*-)'*-"G/-"/'21?"DAA-D1"+'"+,-">%B"D(?"3-?%23c&%d-"%(?2&+*%-&"+'"3'2(+"D+"
1-D&+" '(-"A*'a-I+" -DI,"'(" +,-%*" '/(G" &A-I%D11@" +'" *-D1%d-" +,-" E%&%'(G" %(" D??%+%'(" +'" +,-%*"
>2&%(-&&" 'A-*D+%'(&" D(?" -fAD(&%'(" A1D(&O" <'3-"3D@" &D@" +,D+" %+"3D@" a2&+" >-" D" ?%))-*-(+"
+%+1-")'*"D("'1?""A*'a-I+O"6*D(+-?"+,-*-"3D@">-"D")-/"&2I,"ID&-&O"92+"+,-")DI+"+,D+"D"A*%ED+-"
%(?2&+*@"D??*-&&"D"E%&%'("=K=K"A*'a-I+"D(?"B%E-&"%+"D"&A-I%D1"&+D+2&"/%11"B%E-"D"&%B(D1")'*"
3D(@"'+,-*&O"_'*"D(@"A*'a-I+"'*"A*'B*D33-""+'"&2II--?"G"+,-"3%(%323"*-b2%*-3-(+&"D*-"
%()*D&+*2I+2*-" ?-E-1'A3-(+" &2I," D&" -1-I+*%I" A'/-*" GI'332(%ID+%'(" D(?" +*D(&A'*+D+%'(O"
8(?2&+*%-&"GAD*+%I21D*1@"%("+,-"A*%ED+-"&-I+'*"G%(?%E%?2D1"'*"I'(&'*+%23"3'?-"G&,'21?"-(+-*"
%(+'"D"3%&&%'("3'?-G"I'3>%(%(B"
%+"/%+,"D">2&%(-&&"I'?-O"<%3%1D*1@"G+,-"&-*E%I-"&-I+'*"'))-*&"B*-D+">2&%(-&&"'AA'*+2(%+@O!
3X%KK!"#$W3I4"L3"
<3D11" %(?2&+*%-&" M"<8N"I'(+*%>2+-"3'*-" +,D("TK"A-*"I-(+"')" 8(?%D(" %(?2&+*%D1"'2+A2+O"#&"
32I,"D&"PK"A-*"I-(+"')"-(B%(--*%(B"4*'?2I+&"-fA'*+&"I'3-")*'3"<8"O+,%&"&-I+'*"%&"D"1D*B-"
&'2*I-" ')" -3A1'@3-(+" )'*" '2*" A-'A1-O" .-D*1@" -%B,+--(" 3%11%'(" A-'A1-" B-+" ?%*-I+"
-3A1'@3-(+O" <%&" ,DE-" ,-1A-?" D" B*-D+" ?-D1" %(" %3A'*+" &2>&+%+2+%'(" G')+-(" +,-3&-1E-&"
/'*C%(B" D+" E-*@" 1'/" 3D*B%(&" ')" A*')%+O" R'/-E-*G" D" 1D*B-" (23>-*" ')" +,-3" D*-" ('+"
+-I,('1'B%ID11@"&+*'(BO"U,%&"&%+2D+%'(">@"D(?"1D*B-",D&">--("?2-"+'"+,-"A'1%I%-&"')"+,-"AD&+"
/,%I,"?%?"('+"I*-D+-"D"I1%3D+-"%("/,%I,"+-I,('1'B%ID1" %(('ED+%'(&"/-*-"*-/%*-?O"RDE%(B"
&D%?" +,%&G"/-" ID(('+" 1-DE-"3'&+"')" +,-&-"&3D11" %(?2&+*%-&" +'"3D*C-+" )'*I-&"D1'(-"/%+," D"
A,%1'&'A,@"')"1-+"+,-3"A-*%&,"'*"&2*E%E-O":(-"?'-&"('+"A1-D?")'*"A*'+-I+%(B"+,-"%(-))%I%-(+"
>2+"%+"%&"'2*"?2+@"+'"-(D>1-"+,-3"+'">-"D"-))%I%-(+"%("+,-"AD&+"/-",DE-"('+"A*'E%?-?"D"A'1%I@"
)*D3-/'*C"+'"&2AA'*+"-))%I%-(I@O"<'"B-(-*D11@"3'&+"A-'A1-"D?'A+-?"&')+"'A+%'(&O".'/"/-"
?'(Y+",DE-"+,-"+%3-"+'")'11'/"&2I,"'A+%'(&O"W-"/'21?"+,-*-)'*-"&2BB-&+"+,D+"3'&+"')"
+,-&-" %(?2&+*%-&" +,-3&-1E-&"&+D*+"+*@%(B"'2+"/,D+"-1&-"ID(">-"?'(-O"_'*+2(D+-1@G+,-*-"D*-"
&-E-*D1" &I,-3-&" >@" B'E-*(3-(+D1" DB-(I%-&" D&"/-11" D&" %(?2&+*@" D&&'I%D+%'(&" +'" ,-1A" +,-"
&3D11c&ID1-"&-I+'*")'*"-(,D(I%(B"%+&"+-I,('1'B@"D(?"3D(DB-3-(+"
IDAD>%1%+%-&O
=Q="
:(-"')"+,-3"%&"+,-")'*3D+%'("')"D(?"A*'B*-&&"3D?-"%("+,-"U-I,('1'B@"J-E-1'A3-(+"
9'D*?O8(" D??%+%'(" G1-+" +,-&-" <8&" F-D*(" +'" I'(+DI+" (-D*>@" DID?-3%I" %(&+%+2+%'(&" '*" D"
1D>'*D+'*@O"F-+"+,-3"C('IC"D+"+,-%*"?''*&"D(?"D&C"+,-3")'*",-1A"'*"H''A-*D+%'(O"#")-/"')"
+,-"1D>&"'*"%(&+%+2+%'(&"/%11"*-)2&-"GD")-/""/%11"I,D*B-"-f'*>%+D(+1@"GD")-/"/%11"&D@"('"D(?"D"
)-/"/%11" +D1C" " A'&%+%E-1@" >2+"3D@" B%E-" D" ?-1D@-?" *-&A'(&-O" 92+" 1-+" +,%&" ('+" ?%&I'2*DB-"
+,-3O"8)"+,-@"C--A"+*@%(B"G+,-*-"/%11">-"?-)%(%+-1@""&'3-"*-&A'(&-^"&'3-"&+D+-"B'E-*(3-(+&"
,DE-" D1*-D?@" &+D*+-?" +-I,('1'B@" 4*'3'+%'(" I-(+-*&O" :)" I'2*&-" GD" (23>-*" ')" &3D11"
%(?2&+*%-&",DE-"+'"1-D*(",'/""+'"I,D(B-"+,-%*"3-+,'?"')" )2(I+%'(%(BO"U,-@"3D@",DE-"+'"
I,D(B-"+,-%*"A*'?2I+"1%(-&O",'&-"/,'"D*-"E-*@"&%IC"3D@",DE-"+'"+,%(C"')"I1'&%(B"?'/("D(?"
+DC-"2A"D"(-/"1%(-"')"DI+%E%+@O"F-+"-DI,"A-*&'(")*'3"+,-"&3D11c&ID1-"&-I+'*"%(?2&+*@G"1-+"+,-"
'/(-*"
'*"-(+*-A*-(-2*"?-I%?-",D+",-"'*"&,-",D&"+'",DE-"D"E%&%'(")'*",%&"'*",-*"I'3AD(@"+'"-fI-1G"
+'"I'(+*%>2+-"+'"I,D(B-"D(?"%)".-I-&&D*@"+'"%(('ED+-"D(?"+'"B*'/"&+*'(B-*O"5E-("%)"!K"A-*"
I-(+"')"+,-3"&2II--?"%("+,-">-B%((%(B"+,D+"%+&-1)"/%11">-"D"1D*B-"I,D(B-O"8("+,-"3-D(/,%1-G"
/-" >-1%-E-" +,D+" +,-" 3'E-3-(+" &+D*+%(B" /%+," ED*%'2&" %(?%E%?2D1" DI+%'(&" /%11" A%IC" 2A"
3'3-(+23G" B%E%(B" D" &A-I%D1" >''&+" )'*" +,-" '+,-*"\K" A-*" I-(+" +'" )'11'/O" 8(" D??%+%'(G"/-"
/'21?" 1%C-" +'" DAA-D1" +'" +,-" @'2+," +'" +*@" +'" B-+" %(+'" (-/-*" -(+-*A*%&-&O" 8()'*3D+%'("
+-I,('1'B@"D(?"&')+/D*-",DE-">--("B%E-("D"+,*2&+" %("+,%&"I'2(+*@O"U,-*-"%&" 1%C-1%,''?"')"
-D&%-*" A*'I-?2*-&" D(?" >-++-*" -(D>1%(B" -(E%*'(3-(+G" D(?" -D&%-*" DED%1D>%1%+@" ')" E-(+2*-"
IDA%+D1"'*">D(C"1'D(&O"0D(@"@'2(B"
-(+*-A*-(-2*&"ID("-(+-*"+,-&-"D*-D&O":(I-"+,-@"3DC-"D"A*')%+G"+,-@"D1&'"-(+-*"'+,-*"D*-D&"
') >2&%(-&&O"#"(-/"I1D&&"&3D11"-(+-*A*%&-&"/'21?"(--?"+'"%("8(?%DO"
W-"/'21?"1%C-"+'"-3A,D&%d-"+,D+",%B,c+-I,"DI+%E%+@"?'-&"('+""3-D("+,D+"%+",D&"+'">-"
haDdd@YO"U,-*-"D*-"3D(@"+,%(B&"?'(-""/%+,%("8(?%D"/,%I,"D*-"E-*@"B''?"D(?"2&-)21O"')+-("
'(-"%&"('+""D/D*-"')"+,-3O"8("D??%+%'("+'"?-E-1'A%(B"&+*-(B+,&"D(?""+D*+%(B""(-/"+,%(B&"/-"
&,'21?" D1&'" -fA1'*-" /,D+" /-" ,DE-" D(?" 3DC-" +,D+" " C('/1-?B-" DII-&&%>1-" +'" D&" 3D(@"
A-*&'(&"D&"A'&&%>1-O"U,-""%(%+%D+%E-"+'"+-11"'+,-*&"D>'2+"/,D+"/-",DE-"DII'3A1%&,-?"&,'21?"
I'3-" )*'3" +,-" %(?2&+*%-&" +,-3&-1E-&O" F-+" 2&" 1''C" D+" -fD3A1-&" I%+-?" >@" J*"
6OE-(CD+D*D3D(GE%I-cI,D(I-11'*G&*%" &D+,@D" &D%" %(&+%+2+-"')"R%B,-*"F-D*(%(BO"R-"/D&" +,-"
C-@""A-*&'("D(?"+,-"D*I,%+-I+"')" +,-"JXJ:"-))'*+"+'">-D+"+,-"+-I,('1'B@"I'(+*'1"*-B%3-"
/,%I," ?%&D11'/-?" &D1-" ')" &2A-*I'3A2+-*&" +'" JXJ:O" W-" ,DE-" ('/" #(2*DB" /,%I,
=QP"
A*'E%?-&"D" ,D*?/D*-"A1D+)'*3" )'*" &'1E%(B"?-)-(&-"A*'>1-3&O" 8("D" 1-++-*" +'"SO<OXDaD(" ,-"
&D@&""Gh:(-"A*'>1-3"8",DE-"")DI-?"D&"D"&I%-(+%&+"%&"+,-"1DIC"')"%()'*3D+%'("#>'2+"/,D+"%&"
DED%1D>1-"/,-*-O"_'*"-fD3A1-G"D123%(%d-?"(@1'(""M3D?-"3D%(1@")'*"+,-"dD*%" %(?2&+*@"D(?"
&2AA1%-?" +'" &D*--" 3D(2)DI+2*-&NG,DAA-(&" +'" >-" E-*@" 2&-)21" D&" D" *D?%D+%'(" &,%-1?" %("
I*@'B-(%I"&@&+-3&O"
W-"2&-?"+'"2&-"+,-"&+2))" %("U*'3>D@O"9@"&,--*"I,D(I-"/-"?%&I'E-*-?"D"&3D11":2+)%+" %("
#,3-?D>D?" /,%I," 3D?-" +,-" A*'?2I+" D(?" /-*-" D>1-" +'" A*'I2*-" '2*" (--?&" )*'3" +,D+"
I'3AD(@O"<%3%1D*1@G"'(I-"')+-("(--?&"-1-I+*%ID11@cI'(?2I+%(B"AD&+-O"8"'(I-"&+23>1-?"'("D"
I'3AD(@"%("9D(BD1'*-"3DC%(B"+,%&"A*'?2I+O"U,%&"DBD%("/D&">@"&,--*"I,D(I-O"<2AA'&-"D"
&I%-(+%&+" %("J-,*D"J2("/D(+&"+,%&"AD&+-O"R-"%&"('+"D/D*-"+,D+" %+" %&"3D?-"%("8(?%DO"92+",-"
C('/&"D>'2+"D"I'3AD(@" %("9'&+'("/,%I,"3DC-&" +,-"&D3-O"<'",-" %3A'*+&" %+G"/,-(" %+" %&"
*-D11@" ('+" (-I-&&D*@O" 8" +,%(C" +,-" +%3-" ,D&" I'3-" )'*" '2*" %(?2&+*@" +'" A*-AD*-" -f,D2&+%E-"
A*'?2I+"?%*-I+'*%-&"I'E-*%(B"D11"&-I+'*&G"-&A-I%D11@""*-1D+-?"+'"+,-"I'3A'(-(+&"1-E-1O"8)"+,%&"
%()'*3D+%'("%&"A2+"'("D"/->&%+-"D(?"+,-"/->"DED%1D>%1%+@"%&"/%?-1@"A2>1%I%d-?G"%+"/'21?">-"
')" B*-D+" ,-1A" +'" 3D(@O6OE-(CD+D*D3D(" %3A1%-&" +,D+" +,-*-" /'21?" >-" +,'2&D(?&" ')" &2I,"
&3D11" 8(?2&+*%-&" %(" 8(?%DO" F-+" 2&" -fA1'*-" +,-3s" #1&'" 1-+" +,-3" D/DC-" +'" &--" +,-%*" '/("
&+*-(B+,&s!
ID6G!>;7=9B>"
U'"D"I-*+D%("-fI-A+"+,-"A*-&&2*-&"')"+,-"&3D11c&ID1-&"&-I+'*""/'21?",DE-"D("-))-I+"'("+,-"
+%(@"&-I+'*&O"#1&'"D"B*'/%(B" (D+%'("/'21?" ,DE-"3D(@"I,D(B-&" %("I'(&23A+%'("AD++-*(&"
D(?" ?-3D(?&O" +,-&-" I,D(B-&" I'21?" ,-1A" &'3-" +%(@" &-I+'*&" D(?" &'3-"3D@" >-" D?E-*&-1@"
D))-I+-?O":(-"ID(('+"1-DE-"+,-&-"+%(@"&-I+'*&"+'"+,-3&-1E-&O"U,%&" %&"/,-*-"B'E-*(3-(+D1"
D(?" &'I%D1" %(+-*E-(+%'(&" D*-" ?-)%(%+-1@"ID11-?" )'*O" 8(" +,%&" E%+D1" D*-D"/-" +,%(C" +,-" *'1-" ')"
('(cB'E-*(3-(+D1"'*BD(%dD+%'(&M.6:NGD(?"+,-"B'E-*(3-(+D1"&2AA'*+G"%(I12?%(B"+,*'2B,"
%+&" D?3%(%&+*D+%'(G" %&" E-*@" %3A'*+D(+O" U,-%*" &I'A-" &,'21?" ('+" >-"3-*-1@" +'" 3DC-" +,-3"
&2*E%E-G">2+"D1&'"+'"-(D>1-"+,-3"+'"I,D(B-"+'"(-/-*"
AD++-*(&O" U,%&" /'21?" *-b2%*-" 3D*C-+%(B" ')" &C%11&O" U,%&" %&" D" I'3A1-f" +D&CO" 6'E-*(3-(+"
A'1%I@",D&"+'"-E'1E-"%("+,%&"*-&A-I+O"U,-"A*%ED+-"&-I+'*"ID("D1&'"+DC-"%(%+%D+%E-"%("D?'A+%(B"
+%(@"&-I+'*&"(-D*>@"D(?",-1A"+,-3"+'"2AB*D?-"&C%11&">@"D&&2*%(B"+,-3"')"D"3D*C-+")'*"+,-%*"
A*'?2I+&O" 8(" +,-" I'3%(B"3'(+,&" D(?" @-D*&G"/-" D1&'G" %(" '2*" &3D11"/D@G"/'21?" 1%C-" +]'"
I'(I-(+*D+-"'("D(?"*-3'E-"+,-">'++1-(-IC&"%("&'3-"')"+,-&-"D*-D&">-ID2&-"+,-"A-'A1-"')
=QT"
+,%&"&-I+'*"(--?",-1AO"W-"D*-"D++-3A+%(B"+'"?'""+,%&"%("D"(23>-*"')"A1DI-&"%("+,-"I'2(+*@O"
8)" +,-@" D*-" ('+" +DC-("ID*-"')G" D&" 8(?%D"B*'/&G" +,-@"3D@" *-1DA&-" %(+'"A'E-*+@O" 8+" %&"3'*-"
AD%()21" +'" &1%A" >DIC" %(+'" A'E-*+@" D)+-*" -(a'@%(B" &'3-" >-(-)%+&" ')" 1%)-O" 8+" %&" 32I,"3'*-"
AD%()21"+,D(">-%(B">'*("A''*"D(?"1%E%(B"%("A'E-*+@O"U,-"+%(@"%(?2&+*%-&"&-I+'*"ID(">-"2&-?"
+'"+DC-"?-E-1'A3-(+"+-I,('1'B@"%(+'"+,-"*2*D1"D*-D&O!
X"#?>!06,!J9B;D<6!;6=D=D;>"
:2*" E%&%'(" ')" 8(?%DG" %(" C--A%(B" /%+," '2*" B*-D+" +*D?%+%'(&" ')" +,-" AD&+G" %&" ('+"
f-('A,'>%IO"W,%1-"/-"-3A,D&%d-"+,-"8(?%D("I'*-"&+*-(B+,&"D(?"h3D?-"%("8(?%DY"I'(I-A+&"
G+,-&-" D*-" +'" -(&2*-" -3A1'@3-(+" )'*" '2*" A-'A1-G" +'" I*-D+-" A*'&A-*%+@" )'*" +,-3" D(?" +'"
-(&2*-"+,-"1'(Bc+-*3"E%D>%1%+@"')"&2I,"A*'&A-*%+@O"#"(23>-*"')"0.H&"ID3-"+'"8(?%D("%("
+,-"AD&+"D(?"I'(+*%>2+-?"&%B(%)%ID(+1@"+'"%+O"0D(@"3'*-"D*-"I'3%(B"%("G/%+,"D"(23>-*"')"
+,-3"+,%(C%(B"%("+-*3&"')"D"1'(Bc+-*3"*-1D+%'(&,%AO"8("D"/D@"+,-"
h&DI+%'(&Y">-%(B""h%3A'&-?Y"/'21?"D1&'",-1A"+'"%?-(+%)@""/,%I,")'*-%B("I'3AD(%-&"?-&%*-"D"
1'(Bc+-*3" *-1D+%'(&,%A" /%+," 8(?%Ds" 8(?%D" (--?&" )'*-%B(" ?%*-I+" %(E-&+3-(+&" D(?" )'*-%B("
+-I,('1'B%-&" /%+,'2+" D" +%3-" 1DBO" 8(" D>'2+" D" ?-ID?-" 8(?%D(" +-I,('1'B%ID1" D(?" >2&%(-&&"
&+*-(B+,&" /%11" B*'/" +*-3-(?'2&1@O" 8(?%D(" I'3AD(%-&" 3D@" D1&'" -3-*B-" D&" 0.H&"
'A-*D+%(B" %("?%))-*-(+"AD*+&"')" +,-"/'*1?O"U,-@"/'21?"&-11" +-I,('1'B@c%(+-(&%E-"A*'?2I+&"
D(?"&-*E%I-&"D&"/-11"D&"-fA'*+"+-I,('1'B%-&O"5E-(">-@'(?"=K=KG"8(?%D"/'21?"I'(+%(2-"+'"
D++*DI+")'*-%B("?%*-I+"%(E-&+3-(+O"#"?-E-1'A-?"D(?"+-I,('1'B%ID11@"&+*'(B"I'2(+*@"/%+,"D"
'(-c>%11%'(cA12&" A*'&A-*'2&" A'A21D+%'(" /'21?" ?-)%(%+-1@" >-" +,-" %?-D1" 3D*C-+" )'*" D(@"
>2&%(-&&"A-*&'("'*"-(+*-A*-(-2*O"W-"D1&'")--1"+,D+"3D(@")'*-%B("*-&-D*I,-&"/'21?"I'3-"
%("&-D*I,"')"A*'a-I+&"'*"AD*+(-*&"%("8(?%DO"
U,-"%33-?%D+-"DI+%'(&")'*"0.H&"D(?")'*-%B("-(+%+%-&"/'21?"">-")'*"+,-3"+'",DE-"
+,-%*"3%&&%'("I'3AD+%>1-"/%+,"8(?%DY&" " " %(+-*-&+&"D(?" %+&"I'*-"&+*-(B+,&O"U'"I*-D+-"D"/%(c"
/%(" &%+2D+%'(G" +,-@" &,'21?G" ')" +,-%*" '/(G" %(%+%D+-" A*'a-I+&" /,%I," /%11" -(,D(I-"
+-I,('1'B%ID1" IDAD>%1%+%-&" D(?" &A*-D?" +,-" -))-I+&" ')" A*'&A-*%+@O" U,-%*" 1D*B-" A2>1%I%+@"
3-I,D(%&3"ID("D1&'"D++-(?"+'"&A-I%)%I"8(?%D("I'(I-*(&O"8("'*?-*"+'"%(%+%D+-"DI+%'("%("+,%&"
?%*-I+%'(G"+,-@"(--?"+'"%(+-*DI+"/%+,"3D(@"8(?%D("B*'2A&"+'"2(?-*&+D(?"+,-%*"I'(I-*(&O"W-"
?'" *-D1%d-" +,D+" )'*-%B(" I'3AD(%-&" D*-" ,-*-" +'" ?'" >2&%(-&&G" 3DC-" A*')%+" D(?" +'" I*-D+-"
I'(?%+%'(&" )'*"I'(+%(2-?"D(?"B*'/%(B"A*')%+O"92+" +,-@"ID("D1&'" &-+"DAD*+"!K"A-*"I-(+"')"
+,-%*"'A-*D+%'(&")'*"I*-D+%(B"I'(?%+%'(&"%("8(?%D")'*" %+"+'">-I'3-"D"?-E-1'A-?"(D+%'("D(?
=QQ"
)'*" %+&"A-'A1-"+'">-"A*'&A-*'2&"/%+,'2+"I'(+%(2-?"?-A-(?-(I-"'(""'+,-*&")'*"+-I,('1'B@O"
8("+2*("G3D*C-+"A'+-(+%D1"/%11"%(I*-D&-O"8&"%+"7+'A%D("+'"+,%(C"+,2&e"W%11"&'3->'?@"('+"&'"
&+*'(B"&+*'(B"-('2B,"+'">-"-b2D1e"8("+,-"1'(B"*2("8(?%D"%&"B'%(B"+'">-I'3-"&+*'(Bs"U,'&-"
/,'"D*-"AD*+(-*&" %("+,D+"E-(+2*-&"('/"/%11"?-)%(%+-1@"&+D(?"+'"BD%(O"W-",DE-"+,-""D>'E-"
+,'2B,+&")'*"0.H&"D(?")'*-%B("-(+%+%-&"A*-&-(+1@"%("8(?%D"D(?"/,'"3D@"I'3-"%("+,-"(-D*"
)2+2*-O"U,-@",DE-"+,-%*"h+,%(Cc+D(C&YO"W-",'A-"+,-@"/%11"IDA+2*-"+,-"3-&&DB-")'*"DI+%'(&O"
<D(I+%'(&")*'3"I-*+D%(")'*-%B("I'2(+*%-&"D*-"DBD%(&+"+,-"I'(I-A+"')"B1'>D1"E%11DB-O"61'>D1"
3D*C-+&"D*-"'A-(%(B"2A"D(?"+,'&-"D))-I+-?"&,'21?"/DB-"D"/D*"DBD%(&+"+,%&"+-(?-(I@O!
%?%$LX"?!06,!4`$!.0+>"
U,-" (D+%'(" %&"A*'2?"')" %+&" &I%-(+%&+&"D(?" &I,'1D*&G" +,'2B,G"')" " I'2*&-G"3D(@"')" +,-3"
/'21?"*-A1D@"+,-@"?'2>+"/,-+,-*"+,-"(D+%'("ID*-&")'*"+,-3"D+"D11O"W,-("D&C-?"/,@"3D(@"
')" '2*" >-&+" D(?" >*%B,+-&+" ,DE-" B'(-" D>*'D?" +'" 3DC-" D" 1%E%(BG" +,-@" 'A%(-" +,D+" +,%&" %&"
>-ID2&-" D&" D" (D+%'("/-" ,DE-" ('+" ID*-?" )'*" +,-" +D1-(+-?" D(?"3-*%+'*%'2&O"U,-*-" %&" &'3-"
+*2+," %(" /,D+" +,-@" &D@O" R'/-E-*G" >@" D(?" 1D*B-G" I'3AD*-?" +'" +,-" &%+2D+%'(" >-)'*-"
%(?-A-(?-(I-G"B'E-*(3-(+"D&&%&+D(I-",D&"A*'E%?-?"D"+*-3-(?'2&"'AA'*+2(%+@" )'*",%B,-*"
-?2ID+%'(O" 8)" +'?D@" 8(?%D(" &I%-(+%&+&G" +-I,('1'B%&+&" D(?" &I,'1D*&" %(" ?%))-*-(+" )%-1?&" D*-"
*-&A-I+-?" /'*1?/%?-G" %+" %&" >-ID2&-" ')" +,-" -?2ID+%'(" &@&+-3" /-" ,DE-" >2%1+" 2AO" :2*"
-fI-11-(I-" %&" -E%?-(+" -E-("/%+,%(" +,-" I'()%(-&" ')" " +,-" 1%3%+-?" 'AA'*+2(%+%-&"/,%I," D*-"
DED%1D>1-" )'*" *-&-D*I," D(?" ?-E-1'A3-(+" %(" +,-" 2(%E-*&%+%-&" D(?" +,-" (D+%'(D1" XjJ"
1D>'*D+'*%-&O"W-">-1%-E-"D(?"DAA-D1 +,'&-"&I%-(+%&+&G"*-&-D*I,-*&"D(?"&I,'1D*&"&,'21?"&,-?"
+,-%*"A-&&%3%&3O"U,-*-"D*-"3D(@"*-D&'(&")'*">-%(B"A-&&%3%&+%I"D(?"I@(%ID1O"W-"D*-">'+,"D"
AD*+"')" +,-%*"I'332(%+@O"W-"C('/"+,-"A*'>1-3&" +,-@" )DI-" G-&A-I%D11@"+,-"@'2(B-*"'(-&"
GD(?" D1&'" +,'&-" /,'" D*-" ('+" %(" A'&%+%'(&" ')" A'/-*" %(" +,-&-" %(&+%+2+%'(&" G+,-" &'cID11-?"
3%??1-"1-E-1&"D(?"+,-"1'/-*"1-E-1&O"W-"DAA-D1"+'"+,-&-"A-'A1-"+'"+,%(C">%BG">-ID2&-"+,-@"
D*-"+,-"'(1@"'(-&"""""""/,'"2(?-*&+D(?"+,-")'*I-&"')"+-I,('1'B%ID1"3'?-*(%dD+%'("D(?"+,-"
(-/"-(-*B%-&"+,D+"ID(">-"2(1-D&,-?"+,*'2B,"+-I,('1'B%-&O"U,-@"D1&'",DE-"+,-"IDAD>%1%+@"+'"
D>&'*>"+,-"C('/1-?B-">D&-"/,%I,"%&"B*'/%(B"D+"D("-fA1'&%E-"*D+-O"
U,-*-" D*-" &'3-" &+2?%-&"/,%I," %(?%ID+-" +,D+" )*'3" D*'2(?" +,-" >-B%((%(B" ')" +,-"
(-/"3%11-((%23"G+,-"C('/1-?B-">D&-"/%11">-"?'2>1%(B"%("1-&&"+,D("D"b2D*+-*"')"D"@-D*s"W-"
/'21?"*-b2-&+"+,-"&I%-(+%&+&G"+-I,('1'B%&+&G"&I,'1D*&G"+-DI,-*&"D(?"'+,-*&"+'"A'(?-*"+,D+"%(
=Q]"
D" I'2(+*@" /,%I," %&" &'" A''*" G+,-@" ,DE-" >--(" -(D>1-?" +'" ,DE-" /'*1?cI1D&&" C('/1-?B-O"
U,-*-)'*-"G-E-("/%+,%("+,-"&-E-*D1"I'(&+*D%(+&"+,-@")DI-"?D%1@"G+,-@"&,'21?"+DC-"%+"2A"D&"D"
I,D11-(B-"+'"3DC-"8(?%D"D"?-E-1'A-?"I'2(+*@O"U,-@"/%11",DE-"+'"&A-D*,-D?"+,-"3'E-3-(+"
>@" +D1C%(B" D>'2+" /,D+" ID(" >-" ?'(-G" -(I'2*DB%(B" A-'A1-" +,D+" /-" ID(" 'E-*I'3-" +,-"
?%))%I21+%-&"D(?"'))-*",-1A"+'"%(?2&+*%-&"GB'E-*(3-(+"D?3%(%&+*D+'*&"D(?"'+,-*&"+,D+"8(?%D("
&I%-(I-"ID(",-1A"+'"&3''+,-("+,-"?%))%I21+%-&"D*%&%(B"'2+"')"-I'('3%I"?-E-1'A3-(+"O"
U,'&-" /,'" D*-" &A-I%D1%&+&" %(" +,-" ,23D(%+%-&" &,'21?" >-" +,-" E-,%I1-" )'*"
I'332(%ID+%'(" +'" +,-" A-'A1-" D>'2+" +,-" (--?" +'" ,DE-" D" (-/" E%&%'(" D(?" +,-" /D@&" ')"
*-D1%d%(B"%+O"W-",DE-"B'+"+*-3-(?'2&"'AA'*+2(%+%-&"+'"?'"&-E-*D1"DI+%'(&O"W-"?'"('+"&D@"
+,D+"1D*B-c&ID1-"1%>-*D1%dD+%'("D(?"-3A'/-*3-(+",DE-"+'">-"?'(-"%("'2*"DID?-3%I"&@&+-3"
D(?"(D+%'(D1" 1D>'*D+'*%-&"D(?"/D%+")'*"%+"+'"+DC-"A1DI-O"5E-("/,-("D11"')"2&",DE-"+'"C--A"
A2&,%(B" )'*" &2I," 1%>-*D1%dD+%'(" D(?" -3A'/-*3-(+G"/-" &,'21?" D1&'" A2&," D" )-/"A*'a-I+&O"
U,-*-"D*-"D"(23>-*"')"DE-(2-&"DED%1D>1-"%("+,-"B'E-*(3-(+"&@&+-3"%(I12?%(B"+,-"*-I-(+1@"
I'(&+%+2+-?" U-I,('1'B@" J-E-1'A3-(+" 9'D*?" +'" A*'3'+-" I'33-*I%D1%dD>1-" +-I,('1'B@"
?-E-1'A3-(+O"W-"&,'21?"&%(I-*-1@",'A-"+,D+"-DI,"&I%-(+%)%I"B*'2A"A%IC&"'(-"A*'a-I+"'("%+&"
'/(" +'" *-D1%d-" +,-" E%&%'(O" U'" &,'/" %33-?%D+-" *-&21+&" +'" '2*" %(?2&+*%-&" D(?" +'" 1'ID1"
D?3%(%&+*D+'*&G" 1-+" +,-3" ('+" /D%+" )'*" &'3->'?@" +'" *-I'B(%d-" D" A*'a-I+" )*'3" J-1,%" '*"
-1&-/,-*-O"F-+" +,-&-"DI+%'(&" >-" +DC-(O" 8)" +,-"&I%-(+%&+&" )--1"I'()%?-(+" +,D+" %+"/%11" 1-D?" +'"
E-*@" B''?" *-&21+&G" +,-*-" /%11" ')+-(" >-" &2II-&&O" :(I-" +,-*-" %&" D" &2II-&&" /%+," B''?"
-I'('3%I"D(?"&'I%D1" %3ADI+G"-E-*@'(-"/%11"I1D%3"'/(-*&,%A"')" +,-"A*'a-I+O"<2II-&&",D&"
3D(@"AD*-(+&s!
IbL!NRQL4#XL#IZ3!4RKL"
U,-*-"%&"D"I-(+*D1"B'E-*(3-(+"/%+,"3D(@"3%(%&+*%-&"D(?"?-AD*+3-(+&"G+,-*-"D*-"
3D(@"&+D+-"B'E-*(3-(+&"D(?"+,-*-"D*-"3D(@"B'E-*(3-(+"DB-(I%-&O"8("D(@"3'?-*("I'2(+*@"
G+,-" B'E-*(3-(+" +'" >-" A*-&-(+" +'" I*-D+-" -(D>1%(B" -(E%*'(3-(+" G+'" -(&2*-" 1D/"D(?" '*?-*"
GD(?"+'"I'(?2I+"DI+%E%+%-&"')"A2>1%I"B''?O"U,-*-"%&"*%B,+1@"D"B-(-*D1")--1%(B"%("+,-"I'2(+*@"
+,D+"+,-*-"%&"D("'E-*"A*-&-(I-"')"+,-"B'E-*(3-(+O"#1&'"G3'&+"B'E-*(3-(+"%(&+%+2+%'(&"?'"
('+"B*'/"%("DI+%'(&g"+,-@"B*'/"%("&%d-s"U,-@"+,%(C"+,D+"+,-@"*21-"D(?"('+"&-*E-O"U,-*-"D*-"
&'3-"-fI-A+%'(&"+''s"92+"+,-"B'E-*(3-(+"&2*-1@"D1&'",D&"3D(@"'))%I-*&"/,'"+,-3&-1E-&"
)--1">D?"D>'2+"+,-"&%+2D+%'(O"U,-@")--1"+,D+"+,-*-"D*-"3D(@"I'(&+*D%(+&"/,%I,"D*-"+*'2>1%(B
=QL"
+,-3O"W-"D*-"D??*-&&%(B"&'3-"')"+,-"%(?%E%?2D1"A-*I-A+%'(&"%("D"1D+-*"&-I+%'("'("/,D+"/-"
ID("?'O"92+"+,-*-" %&"D"(--?"+'"+*-D+"+,-"B'E-*(3-(+"D&"D"/,'1-O"U,-*-" %&"D"(--?"('/"+'"
1''C"D+"+,-"I'2(+*@"D&"D"/,'1-O"U,'2B,"%("A*%(I%A1-G"+,-"B'E-*(3-(+"%&"""I'(&%?-*-?""""D&"
'(-"G"%(""A*DI+%I-G""+,-*-"D*-"3D(@""""?-AD*+3-(+&"D(?""""?%E%&%'(&""%("+,-""?-AD*+3-(+&""D(?"
+,-*-""D*-""D""(23>-*""')""""""""""'))%I-*&""'*"&+D))O"8+""%&""/-11""C('/(""+,D+"""+,-*-""D*-""+2*)&O"
U,-*-"D*-""""D1&'""D""(23>-*"')""I''*?%(D+%'(""3-I,D(%&3&G"">2+""""+,-&-""""D*-""')+-(""2&-?"
D&" " %(&+*23-(+&" " )'*" " ?-1D@%(B" " DI+%'(O" U,-" 6'E-*(3-(+" D1&'" " %(I12?-&" +,-" A'1%+%ID1"
&@&+-3O"J2*%(B""+,-"AD&+"")%)+@"" "@-D*&""8(?%DY&"?-E-1'A3-(+",D&"B*-D+1@" " ""?-A-(?-?""'("
+,-""""B'E-*(3-(+O"8+""/D&"+,-"&+*-(B+,"')"+,-""I'2(+*@"""D(?"""D1&'"" %+&""/-DC(-&&O"0D(@"
%(%+%D+%E-&""/-*-"""+DC-(""">@"""+,-"B'E-*(3-(+O"92+"+,-"A1D((-?""D(?"*-B21D+-?"""(D+2*-""')"
+,-"-I'('3@"'E-*" "D"A-*%'?",D&" %(,%>%+-?""'+,-*""" )*'3"""+DC%(B""" %(%+%D+%E-"OU,-*-)'*-"
G'(-"" """ "" %3A'*+D(+"""*'1-" "")'*"""+,-""B'E-*(3-(+""" %&""" "+'"&,-?"" %+&"""A*-&-(I-""D(?"""+'"
-3A'/-*"ED*%'2&"DB-(I%-&""""/%+,%("""%+&-1)""D(?""""D1&'""+'"-3A'/-*"""A*%ED+-"%(%+%D+%E-&O"
U,-" "B'E-*(3-(+" " " " &,'21?" " " D1&'" " " +DC-" "ID*-"')" " " DI+%E%+%-&"')" +,-" "A2>1%I" " "B''?" " 1%C-"
-?2ID+%'(" " D(?" " ,-D1+,O" 8+" " &,'21?" " " D1&'" ('" ?'2>+" " I*-D+-" " E%D>1-" " 3-I,D(%&3&" " )'*"
>*%(B%(B""""2A"""""+,-"""/-DC-*""&-I+%'(O"_'*""D11""+,-&-G""""%+"",D&"""+'""-(D>1-"""""I'(?%+%'(&"
)'*""")D&+-*"B*'/+,""/,%I,"""/'21?""3-D("""D"1'+""')"A*%ED+-""%(%+%D+%E-&""D(?"-E-(")'*-%B("
%(E-&+3-(+"""O"U,-*-""""D*-""""A'&&%>%1%+%-&"""')"""""*D%&%(B""""D""1D*B-""D3'2(+""')"+,-""A*%ED+-"
?'3-&+%I" %(E-&+3-(+" " %(" " +,-" I'2(+*@" A*'E%?-?" " " '(-" %&" " >'1?" " " D(?G" " %)" " " (-I-&&D*@G"
2(I'(E-(+%'(D1O""8+""%&"-&&-(+%D1"""")'*"""B'E-*(3-(+""""""+'""?'""+,%&"O"F-+""2&""('+"""""""+DC-""D"
&+*'(B"""3'*D1%&+%I" "A'&+2*-O"F-+"""+,-"AD&+"3%&+DC-""">-""*-?--3-?"D&"/-"" ""DI+""+'/D*?&"
3DC%(B""+,-""I'2(+*@""D! 0(1(.*<(0!*+(7!-+0!!$%(!!*+.3!!!*+(!$*$-..3!!!')((!!!*'!!!<*1()$3="
8(" " " D??%+%'(G" " " /-" " >-1%-E-" " " +,D+" " 3D(@" ?-AD*+3-(+&" " " /%+,%(" +,-"
B'E-*(3-(+""",DE-""+D1-(+"""D(?""""IDAD>%1%+%-&O"U,%&"""%&""('+""'(1@""+*2-"+-I,('I*D+&G">2+"
D1&'" "')" D?3%(%&+*D+'*&" "D(?"'+,-*"&+D))" " OW-">-1%-E-"+,D+" " "-DI,""')" " "?-AD*+3-(+&"
&,'21?""3'2(+"D""3Da'*"""3%&&%'(""/,%I,"/%11""I'(&%&+""')"""D""(23>-*""')""A*'a-I+&""%(""D"
AD*+%I21D*" " &-I+'*" "/%+,"/,%I," " " +,-@" " " D*-" ">*'D?1@" "I'(I-*(-?O" " 8)"(-I-&&D*@" " " +,-@"
&,'21?""""/'*C""/%+,"""321+%A1-"""?-AD*+3-(+&O":)+-("""+,%&""%&""3'*-"""-))-I+%E-O"RDE%(B"
/'*C-?"/%+,%(""+,-""B'E-*(3-(+"""&@&+-3"")'*""E-*@"""1'(B"G"/-""ID("D1&'""&D@""+,D+"%)"
+'A" D?3%(%&+*D+'*&" " ,DE-" " +,-"/%11G" D(?" %)" )'2*" " '*" " )%E-" ')" +,-3" " B-+" +'B-+,-*G" +,-"
&@&+-3""D*-")1-f%>1-""-('2B,"+,D+""&A--?@"""?-I%&%'(&"ID("""">-""+DC-(O"W-"">-1%-E-""+,D+
=QV"
'(-"""')""+,-""I*2I%D1""3'+%E-"")DI+'*&""%(""*-D1%d%(B"""+,-"E%&%'("/'21?"""?-A-(?""2A'("
,'/"")-/""B'E-*(3-(+""?-AD*+3-(+&""+DC-""+,-""1-D?""%33-?%D+-1@" +'""3'2(+"&2I,""D"
E%&%'(O"W-""?%?(Y+" ",DE-" " +'" " +-DI,"" +,-3"/,D+" "&2I,""3%&&%'(&" "D*-O"U,-">12-A*%(+&"
D*-"DED%1D>1-""""%("+-*3&"')"""U-I,('1'B@"$%&%'("""=K=K"""?'I23-(+O"U,-@""""",DE-"+,-"
+D1-(+&" " +'" "3'2(+" " " ""&2I,"" " "3%&&%'(&O"U,-@"" " "ID(" "B-(-*D+-" 3'*-"?'I23-(+&G" "D&"
(-I-&&D*@G">2+""+,-""DI+%'(&""D*-"""(--?-?"OU,-&-"
(--?"" +'" ">-""?'(-"" "-))%I%-(+1@" " "D(?"" " +,-""*-&21+" " "&,'21?" " ">-"E%&%>1-" %33-?%D+-1@O"
U,-&-""&,'21?""">-""""+,-""I*%+-*%DO"U,-""""*-D&'("""")'*"%33-?%D+-1@"""""E%&%>1-""""*-&21+""%&"
+'""B-(-*D+-""+,-""I'()%?-(I-""%("A-'A1-"""""+,D+""/-""ID(""?'""%+O"U,-(""+,-"""3'E-3-(+"
/%11""&+D*+"""D)+-*""/,%I,""A-'A1-""/'21?"">-"""*-D?@"""+'""/D%+"")'*""""1'(B"k+-*3""*-&21+&O"
:+,-*/%&-G""D"""A-*ED&%E-""""I@(%I%&3G"('/""-E%?-(+""%("""+,-"""&@&+-3G"/%11"I'(+%(2-O!
#96_N9F;B61;6=0.!!9B<06Dl0=D96>S#NR>T"
7(?-*""+,-""ID+-B'*@""')"".6:&""I'3-""3D(@""%3A'*+D(+""DID?-3%IG"-?2ID+%'(D1""""D(?"
XjJ" " '*BD(%dD+%'(&" " " I*-D+-?" " 2(?-*" " " A*%ED+-" D2&A%I-&O" U,-*-" " D*-" &'I%D1" " &-*E%I-"
'*BD(%dD+%'(&O"U,-*-""D*-""DI+%E%+@""B*'2A&""+,D+")%B,+"")'*""I-*+D%("""+@A-"""')""""*%B,+&""%("
3D(@"D*-D&O"U,-*-""D*-""*-1%B%'2&"">'?%-&""/,%I,"""&-*E-"""+,-%*"""""I'332(%+%-&g"+,-*-"
D*-""&'3-"/,%I,"&-*E-""D11"""I'332(%+%-&O"<'3-"".6:&"+D*B-+"""AD*+%I21D*""DI+%E%+%-&^"
>*%(B%(B" " E%&%'(" " +'" +,-" " >1%(?G" )'*" -fD3A1-O"0D(@" " ,DE-" " I'(+*%>2+-?" " " -fI-11-(+1@"
A*%3D*%1@"""+'"",%B,-*""-?2ID+%'(g"+,-""3%&&%'(""&I,''1&""D(?"""I'11-B-&G"AD*+%I21D*1@"""%("
+,-"*2*D1" "D(?" "I'D&+D1" "D*-D&" " )'*" "-fD3A1-O"<'3-""/'*C""/%+," " +*%>-&O"<'3-"" ",DE-"
AD*+%I21D*"""-(E%*'(3-(+D1""I'(I-*(O"<'3-"".6:&"D*-"""""1D*B-g"&'3-""D*-""+%(@"G"'(-c"
A-*&'(""'A-*D+%'(&g"'+,-*&""D*-"*-B%&+-*-?"""D(?""",DE-""h""B'E-*(3-(+""*-I'B(%+%'(Y")'*"
+Df">-(-)%+&"-+IO"<+%11""'+,-*"""&,2("""D(@""'*BD(%d-?""%(&+%+2+%'(D1""")*D3-/'*CO""8)"/-"
1''C""D+" "D11" "')" " " +,-3G" "/-"" "ID(""IDA+2*-"" +,-"" "&A%*%+G" +,-"-(-*B@""D(?"" " " +,-""E-*@"
+-f+2*-" "')" " D" " " *-&2*B-(+" " " " 8(?%DO"W-" " &--" " &'3-" %(?%E%?2D1&" " "/'*C%(B" " " %(" " +,-3"
*D?%D+%(B""ID13(-&&""D(?""D"B*DI-"/,%I,">'*?-*&""'(""D""&A%*%+2D1""3-&&DB-O""U,-*-"D*-"
D1&'" "3D(@" " "?-?%ID+-?" " %(?%E%?2D1&G" " &'3-" "')" " +,-3"B*-D+" " %(+-11-I+2D1&G" *-)1-I+%(B"
2A'("+,-""A*'>1-3&""')"+,-""&@&+-3O"W-"",DE-""&--(""D""(23>-*""')""A-*&'(&"/,'"",DE-"
D""&DI*%)%I-?"">*%11%D(+""ID*--*&""+'"ID**@""'("+,-""&+*2BB1-O"W,-(""@'2"&+%11"&--"+,-""AD%("
%("+,-%*"")DI-&"D)+-*""+/'""?-ID?-&""')"+,-%*""&+*2BB1-&"G""+-D*&""I'3-"+'""@'2*""-@-&O"W-
=Q\"
,DE-"",D?""D"(23>-*" "')" " &2I,""-fA-*%-(I-&O"W-" "D*-" "A2++%(B" )'*+,"+,-""I'(I-A+" "')!
<;+3-$%6-," )'*""*2*D1"+*D(&)'*3D+%'(O"
J-&A%+-""+,-""321+%)D*%'2&""DAA*'DI,-&G"+,-"".6:&""I'11-I+%E-1@"*-A*-&-(+""D""1D*B-"
AD*+" ')" " 8(?%DO" "W-" >-1%-E-".6:&" " ,DE-" " D(" %33-(&-" *'1-" +'" A1D@G" ('+" 3-*-1@" D&"
I'(&I%-(I-c"C--A-*&" >2+"D1&'" %(" " I*-D+%(B"D" "3''?" +'" " +,%(C" "D" ,-D?" " D(?" I*-D+-" " D"
I1%3D+-"")'*""D"?-E-1'A-?""8(?%D"OU,-@""ID(">-I'3-"A'/-*)21"3-&&-(B-*&""')",'A-"D(?"
D" A'&%+%E-" &@(-*B%&+%I"3-I,D(%&3" " >-+/--(" +,-" " '*BD(%d-?" " &-I+'*&" " D(?" " %(?%E%?2D1"
%(%+%D+%E-&c" %("3-+*'A'1%&-&G" I%+%-&G" +'/(&" " D(?" " E%11DB-&g" %(" " &I,''1&G" " I'11-B-&" " D(?"
2(%E-*&%+%-&g"%(")%-1?&G")DI+'*%-&"D(?"3D*C-+&O"
.6:&",DE-"3D(@""I*-D+%E-""A-'A1-")211"')""-(-*B@O"U,%&"+-D3"ID("AD*+%I%AD+-""%("
+,-""3'E-3-(+"")'*""D""?-E-1'A-?""8(?%DG"I'(I-(+*D+%(B"""'(""DI+%'(""A*'a-I+&""+'"&A*-D?"
,-D1+," " D(?" " -?2ID+%'(D1" " &-*E%I-&" " D&" "/-11" D&" " +'" I*-D+-" D" " I1%3D+-" " +'" "3DC-" " " D11"
8(?%D(&""+,%(C"D&"'(-O"
W,D+"/-""ID("?'"W-",DE-""%112&+*D+-?""-D*1%-*""D"")-/""1D*B-""&-B3-(+&""')""%(&+%+2+%'(&"/,'&-""DI+%'(&"
D*-""E%+D1O"W-",DE-""&2BB-&+-?"",'/""-DI,"')""+,-3""ID("?-I%?-""D(?"DI+G"%**-&A-I+%E-"
')" " "/,D+" " "'+,-*&" "?'O"U,-*-" "D*-" "D1&'" "3D(@""'+,-*" %3A'*+D(+" " %(&+%+2+%'(&" " %(" " +,-"
)%(D(I%D1""&-I+'*""D(?""+,-"&-*E%I-""""&-I+'*O"W-"""*-b2-&+""""D11""')""+,-3""+'""+,%(C""D>'2+"
'2*" "A*'A'&%+%'(O"R'/-E-*G"/-"('+%I-" " +,D+" +,-*-" " %&" "'(-""E-*@" " %3A'*+D(+" "-1-3-(+"
/,%I," " %&" "I'33'(""+'" "D11" " " " +,-&-" "&-I+'*&O"U,D+" %&" " +,-" "A-'A1-""/,'""/'*C" %&" +,-"
%(&+%+2+%'(&O"U,-@" "3D@" " >-" " " " " +'A" "3D(DB-*&" " " '*" " " B''?" "/'*C%(B" " " &+D))G" ,%B,1@"
&C%11-?""A*')-&&%'(D1&""'*"+,'&-""/%+,"""1%3%+-?"""IDAD>%1%+%-&O"U,-*-""D*-"+,'&-"/,'"""?'"
A*%ED+-" I'(+*DI+" " a'>&" " )'*" " '+,-*&O" U,-*-" " D*-" " A-'A1-" " " /,'" " )2(I+%'(" " D&"
%(+-*3-?%D*%-&O"8("""D??%+%'("""+,-*-"""D*-"""D""""1D*B-"""(23>-*"""')""A-'A1-"/,'"""?'""('+"
I'(+*%>2+-""""?%*-I+1@"""+'"""A*'?2I+%'("""'*""6J4")%B2*-&O"U,-*-""D*-""3D(@""""/,'""?'"
E'12(+D*@" " " &-*E%I-&O" #11" " " +,-&-" " A-*&'(&G" " +,-" " " ,23D(" " " >-%(B&" " " >-,%(?" " " D11"
DI+%E%+%-&G"ID("">-""I12>>-?""D&"hW5Y""OW-""+*@"+'"""%112&+*D+-"""%(""&'3-"""/D@&""/,D+""/-"
ID(""?'O"U,%&"""/-"D*-"&'""/%?-"""+,D+""%+""-(I'3AD&&-&""3'&+"""8(?%D(&O"8(""D"/D@"""%+"
ID(""I'E-*""")'*-%B(-*&""/,'""/'*C"""%("""8(?%D"""'*""D*-""""/'*C%(B"""'("""D("""8(?%D("
I'(+*DI+s"
W-""C('/"""+,D+""+,-*-""D*-"""&-E-*D1"""A*-&&2*-&""""'("""D""+'A""3D(DB-*Y&
=]K"
+%3-"">2+""",-""ID("""&-+""DAD*+"""D"" " )-/"" """ ",'2*&""" " %("" "D""/--C""+'""+,%(C""D(?"
?-I%?-""",'/"""8(?%D""ID("">-I'3-""D""?-E-1'A-?"""I'2(+*@O":)+-(""D&""D"""+'A""3D(DB-*G"",-"
%&" " D" "A'/-*)21" " "A'&%+%'(" " " +'" "?'" " &'3-+,%(B" " "?%))-*-(+" "/%+,%(" ,%&" " DB-(I@O" "#&" " " D"
>D(C-*G"",-"""I'21?"""+DC-"""%(+-*-&+"""%(""""&'3-""%(('ED+%E-"""A*'a-I+"""/,%I,""ID("",DE-""D"
>-(-)%I%D1" " " %3ADI+" " " " " " /,-(" " +,-@" " " )*2I+%)@G" " '*" " '(-" " ID(" " ,-1A" " " '2+" " D" " 1'ID1"
D?3%(%&+*D+%'(" " " /,-*-" " " +,-*-" %&" D" " " B''?" " D?3%(%&+*D+'*" " +*@%(B" " +'" " &'1E-" " A-'A1-Y&"
A*'>1-3&O" "UDC-"""D('+,-*" " "ID&-^" "@'2"/'21?" " " ",DE-""I'3-""DI*'&&" "" "@'2+," ""/,'""D*-"
E-*@" " IDAD>1-" " D(?" D*-" " " -(+,2&%D&+%I" " D>'2+" " " +DC%(B" " 2A" " &'3-+,%(B" " (-/O"W,@" " " ('+"
-(I'2*DB-" " " " +,-3e" S'2" " I'21?" " I*-D+-" " &'3-" &3D11" " B*'2A&" " /,%I," " ID(" " ?%&I2&&"
A'&&%>%1%+%-&" " ')" " " I'(+*%>2+%(B" " " +'" " D" " (-/" G" " -3-*B%(B" " 8(?%DO" #(?" " DI+" " '(" " +,-"
I'(I12&%'(&""')""&2I,""?%&I2&&%'(&O"8+""3D@""/-11"">-""+,D+""&'3-""')""@'2"" a'%(""+'B-+,-*"
G2AB*D?-" " " @'2*" " &C%11&" " )'*" " I*-D+%(B" D" " (-/" " 8(?%D" " " '*" " B%E-" " @'2*" " C('/1-?B-" " +'"
@'2(B&+-*&""%(""@'2*"""'*BD(%dD+%'(O"":*"@'2"I'21?"+*D%("A-'A1-"/,'"D*-"1-&&"-b2%AA-?"+,D("
@'2*&-1)G"3D@>-"%("@'2*"I'3AD(@"'*"-E-("%("@'2*"(-%B,>'*,''?O"J-E'+-"3D@>-"+/'"?D@&"
%("D"3'(+,")'*"&2I,"-))'*+&"D&"D"a'%(+"A*'a-I+O"W,-("@'2"A1D("3D(@"&2I,"&DA1%(B&G"&'3-"
3D@"?%-G">2+"3D(@"/'21?"B*'/O"
8)"@'2"D*-"D"I1-*C"%(G"&D@G"D"B'E-*(3-(+"?-AD*+3-(+G"@'2"ID("?-I%?-"+'"/'*C"
&1%B,+1@"3'*-"-))%I%-(+1@" %("I1-D*%(B"D"A2>1%I"?-3D(?"'*"D"(-/"A*'a-I+O"8)"@'2"ID(">-"D("
%(&+*23-(+" %("I*-D+%(B"D" )--1%(B"+,D+"+,-"B'E-*(3-(+"MH-(+*D1G"&+D+-"'*"32(%I%AD1N"/'*C&"
&A--?%1@"D(?" a2&+1@G"@'2",DE-"I*-D+-?"(-I-&&D*@"I'(?%+%'(&" )'*"D"?-E-1'A-?"8(?%DO"J'(Y+"
+,%(C" /,D+" ID(" '(-" A-*&'(" ?'O"0D(@" ?*'A&" 3DC-" D" )1''?O" #" /'*C-*" %(" D" )DI+'*@" ID("
?-I%?-"+'"%(I*-D&-",%&"'*",-*"A*'?2I+%E%+@"D"1%++1-"3'*-"D(?"B%E-"D++-(+%'("+'"b2D1%+@O"U,-"
[DAD(-&-",DE-"D("'*BD(%d-?" &@&+-3" +'"'>+D%("D(?"DI+"2A'(" +,-"&2BB-&+%'(&"D+" +,-"B*D&&"
*''+&"1-E-1O"W-"?'(Y+",DE-"&2I,"D"&@&+-3O"S'2"ID(">-"+,-"%(%+%D+'*"')"&2I,"D("-))'*+O"#+"
-E-*@"1-E-1"D")--1%(B"')"I'(+*%>2+%(B"I'(I*-+-1@"+'/D*?&"D"?-E-1'A-?"8(?%D"%&"D"32&+O"U,-"
1D*B-*"+,-"(23>-*"')"A-*&'(&"/,'"DI+G"+,-">-++-*"%+"%&O"
0@"I'cD2+,'*"SO<O"XDaD("/D&"*-I-(+1@"%("D"3--+%(B"+'"?%&I2&&"+,-"-))-I+&"')"
&D(I+%'(&O" U,%&" /D&" >-)'*-" +,-" 7<#" ,D?" D(('2(I-?" +,-" ?-+D%1&O" #11" /-*-" 8(?%D(" D(?"
/'*C%(B")'*")'*-%B(">D(C&O":(-"-1?-*1@"B-(+1-3D("%("-3A,D+%ID11@"&D%?",'/"/-"D11",DE-"
+'"1-D*("+'">-"D"A*'2?"')"'2*&-1E-&"D(?"+DC-"DI+%'("+'"(211%)@"+,-"<D(I+%'(&O"R-""(D**D+-?"
D("-A%&'?-""D>'2+"",%&""E%&%+""+'"[DAD(O"#""1-DC%(B""+DA""%("",%&"",'+-1""*''3""?%&+2*>-?"",%&
=]!"
&1--AO"R-" "I'3A1D%(-?O" "U/'" "A-'A1-" "ID3-G"/'*C-?" " )'*",D1)" " D(" " ,'2*" " D(?" "3D?-" " %+"
*%B,+O""U,-@""&,'/-?""+,-""A-*)'*3D(I-"""+'""",%3""D(?"",-"""/D&"""&D+%&)%-?"OU,-(" +,-@"
DA'1'B%d-?""?--A1@"")'*""+,-""%(I'(E-(%-(I-""""ID2&-?""+'"",%3"""D(?""%()'*3-?"",%3""')""+,-"
,'&+-1""3D(DB-3-(+Y&""?-I%&%'(""('+""+'""I,D*B-""*''3""*-(?"")'*"""+,D+""(%B,+O""<'")D*""'(-"
ID(""A-*,DA&""-fA1D%("""+,%&""D&""('*3D1""A*')-&&%'(D1%&3O" 92+""+,-("G/%+,""D"">'/G""+,-""+/'"
/'*C-*&""&,'/-?""+,-"+DA""A%-I-""+'"",%3""D(?""&D%?G""h<%*s"41-D&-""&--""+,-""+*'2>1-""ID2&-?"
+'""@'2""%&""('+"">@""D""[DAD(-&-"""A*'?2I+"">2+""D(""%3A'*+"D(+-?O""W-""/%11""I'(+%(2-""+'""?'"
>-++-*""G<%*sYU,-""3-&&DB-" %&" "+,D+""3'&+""[DAD(-&-""D*-""D*-""A*'2?""')""+,-%*" "I'2(+*@Y&"
IDAD>%1%+@O""U,-@""/D(+""+'""-fI-1""%(""+,-%*""/'*CO""8)"""-DI,""')""2&""D++-3A+&""+'""?'""&'""%("
'2*""&A,-*-&"""')""/'*C""+,-""&+D+2&"""')"""?-E-1'A-?""8(?%D"""/%11"D**%E-""&''(-*""+,D("""/-"
-fA-I+G" " >-ID2&-" " '2*" " I'2(+*@" " ,D&" "3D(@" " " (D+2*-" " I'*-" " &+*-(B+,&" " D(?" " I'3A-+%+%E-"
D?ED(+DB-&O!
%!!!!!A9>D=DF;!!!!!!1;,D0"
U,-""3-?%D""A1D@&"""D(""%3A'*+D(+"""*'1-"""%(""D(@""3'?-*(""""&'I%-+@""%(""3'1?%(B"
A2>1%I"""'A+%'(O""8+""",D&""%+&""'/(""I'(&+*D%(+&O"""F%C-""D(@""-(+-*A*%&-G""%+"",D&""+'""3DC-"""D"
A*')%+O""U,-""""3-?%D""A*-&-(+&"""(-/&G"""E%-/&""""D(?""D(D1@&-&"+D%1'*-?""+'""&2%+"""/,D+"""+,-"
*-D?-*&""/'21?""1%C-O""8+""D1&'"",D&"""+'"""I*-D+-"""",-D?1%(-&G""1''C"")'*""&'3-+,%(B""&,'IC%(BG"
-fI%+%(B""'*"""+,*%11%(BO""92+""A'C,*D(G""'*""D(""8(?%D(""E%I+'*@"" %(""D"""I*%IC-+""3D+I,G""'*"
&'3-"""'+,-*""A'&%+%E-""-E-(+"""?'-&""('+""'II2*""""-E-*@""?D@O""6-(-*D11@G"+,-"")'I2&""%&""'("
+,-""(-BD+%E-^""D""B'*@""-E-(+"G""'(""/'**@%(B""?-E-1'A3-(+&O"<2I," I'E-*DB-"",D&""B'(-"
+'""D""A'%(+""+,D+"D"""&%+2D+%'("""32I,"""3'*-"""/'*&-""+,D(""%&""DI+2D11@"""+,-"""ID&-""%&"">-%(B"
A*-&-(+-?O
W-""?'""('+"""D+"""D11""">-1%-E-""+,D+""+,-""A*-&&""*'1-""%&""('+""+'"""I*%+%I%d-""D(?"""('+"
+'"",%B,1%B,+""""A*'>1-3&O""U,-*-""%&""D1&'""D+"""+%3-&"""D"""(--?"""+'"""-fDBB-*D+-""-E-(+""D"
?D@s"J-E'+-""D"""AD*+""')""+,-"""ADA-*"""+'""""&D@"""&'3-+,%(B""B''?"""D>'2+""8(?%D""/,%I,""%&"
*-D1"""D(?"""('+"")D1&-O""8)""+,-""3Da'*""ADA-*""?'-&"""+,%&G""+,-*-""/%11"">-""D""B*-D+" D++%+2?%(D1"
I,D(B-""%(""+,-""I'2(+*@O""<%3%1D*1@""+,-""-1-I+*'(%I""3-?%D"""ID("""D1&'""",-1A"""+'"""I*-D+-""D"
(-/""I1%3D+-^""*-A'*+"""'(-""B''?""-E-(+""D""?D@""('+"""a2&+"")*'3""""D"""3-+*'A'1%&""'*"""I%+@"
>2+"D1&'"")*'3"""?%))-*-(+"""AD*+"&""')""+,-" I'2(+*@O""F-+""2&""?%&I'E-*"""'2*"",-*'-&"""/,'"
&%1-(+1@""/'*C""""D11""'E-*"""+,-""I'2(+*@O!
4;,D>79F;BD6<!!!9-B!!!<-B->
=]="
8)""@'2""D*-"""D"""+-DI,-*"""%(""/,D+-E-*"""IDADI%+@G"""@'2""",DE-"""D"""E-*@"""&A-I%D1"
*'1-""""+'"""A1D@G"">-ID2&-"""3'*-"""+,D(" D(@>'?@""-1&-"""@'2"""D*-"""&,DA%(B"""B-(-*D+%'(&O"
U,-*-"""/D&"""D""+%3-"""%("""+,%&"""I'2(+*@""/,-("""""+-DI,-*&""/-*-"""*-&A-I+-?"""D&"""B2*2&O"
.'/G"",'/-E-*G"""+,-"""+-DI,-*Y&"""%&"""')+-("""D"""(-B1-I+-?""""1'+O"""0D(@""')"""+,-3""/'*C"
2(?-*" " " 3%&-*D>1-" " " I'(?%+%'(&O"W-" " D*-" " " D/D*-" " " ')" " " +,-" " " (--?" " " +'" " &'1E-" " " +,-%*"
A*'>1-3&G">2+"""-E-("" "B%E-("""""+,-&-G""/-"""*-b2-&+"""+,D+""""+-DI,-*&""?'"""+/'"""+,%(B&O"
_%*&+G" " 1-+" " " +,-3" " " +,%(C" " " D>'2+" " " D" " "?-E-1'A-?" " " 8(?%D" " " %(" " " +,-%*" "'/(" " "/D@&" " " D(?"
-(+,2&-"" +,-"" " &+2?-(+&O" "<-I'(?1@G" " +,-@"" " " " " &,'21?" " "2A?D+-"" " +,-%*" " "'/("" "C('/1-?B-"
>-ID2&-""+,-"""&+2?-(+""%&"""'(1@"""D&""B''?"""D&"""+,-"""+-DI,-*"O""F-+"""+,-3""I'(&+D(+1@""+*@"
+'""2AB*D?-"""+,-%*""&C%11&""&'""+,D+"""+,-@""""ID(""-(+,2&-" +,-""I,%1?*-(""+'""+,%(C""">%BO""F-+"
2&""('+""+*D(&3%+"""'2*""")*2&+*D+%'(""+'""+,-3O"8""D++-(?-?""'(-""AD*-(+c+-DI,-*"""D&&'I%D+%'("
%(""D"""""&I,''1""""D(?"""""/D&"""D&C-?""""+'"""""+D1C"""+'"""@'2(B-*""I,%1?*-(""""D>'2+"""&'3-"
D&A-I+&""')""+-I,('1'B@""D(?"",'/"""8(?%D"""ID(""">-"""""+*D(&)'*3-?O""8"""&D%?G"""hW-11"""8"
/'21?" " " ('+" " " " 1%C-" " +'" " B%E-" " D(@" " " " " &A-I%D1" " +'" " " @'2(B" " " " I,%1?*-(" " " >-ID2&-" " " +,-@"
+,-3&-1E-&"""D*-""">'*("""/%+,""+,-"""3-&&DB-O"U,-@""D*-"")*-&,O"8""/'21?""+,-*-)'*-"""DAA-D1"
+'" " +,-" " " AD*-(+&" " D(?" " +-DI,-*&" " " ('+" " +'" " A'112+-" " +,-%*" )*-&,"3%(?&" " "/%+," " " '2*" "'/("
)*2&+*D+%'(&O""8)""/-""ID(""%(&+-D?"""I'(E-@""+'""+,-3""D""3-&&DB-""D>'2+""D""">*%B,+""")2+2*-"
D(?"""-(I'2*DB-"""+,-3G"""+,D+"""/%11" "">-"""D"""B*-D+"""&-*E%I-"""/-""/%11""">-"""?'%(B"""+'"
+,-3""D(?""D1&'"""+'"""+,-"""I'2(+*@OY""8+"""%&""+,-"""3-&&DB-"""/-""/'21?""1%C-""+'""B%E-"""'2*"
*-D?-*""D&"""/-11O!
)9.D=D70.!!!!>G>=;1!!06,!!!!=@;!!A0B.D01;6="
FD&+1@"""'2*""DAA-D1"""")'*"""DI+%'("/%11"""""('+"""-(?""/%+,'2+"""D(""DAA-D1""+'""+,-"
A'1%+%ID1"""&@&+-3"""D(?""-&A-I%D11@"""+'""1-B%&1D+%E-"""""D&&-3>1%-&"""D(?""+,-"""AD*1%D3-(+O""8("
)DI+""D11""+,-""AD(I,D@D+&""""""D1&'""I'3-"""2(?-*""+,%&""LP"*?" D3-(?3-(+G""+,-""*21%(B""AD*+@G"
+,-""'AA'&%+%'(""AD*+@"""D(?" D1&'"""D11"""+,-""A'1%+%ID1"""DI+%E%&+&""",DE-"""B'+"""D""B*-D+"""*'1-"
+'"""A1D@O"U-I,('1'B%-&"""D*-""I,D(B%(B""""D+""D""*DA%?""ADI-""""DI*'&&""+,-"""/'*1?O""U,-@""D*-"
I,D(B%(B"""+,-""1%E-&""')""A-'A1-"O"W-"",DE-""+*%-?""+'""B%E-""D""B1%3A&-""')"""+,%&" %(""-D*1%-*"
I,DA+-*&O" " 8(?%D"" %&" " )'*+2(D+-""+'" ">-"">1-&&-?""/%+," "3D(@""*-&'2*I-&" "')" " ">%'?%E-*&%+@G"
3D+-*%D1" " *-&'2*I-&" " " " D(?" " D>'E-" " D11" " " ,23D(" " " *-&'2*I-&O" "W-" " " ,DE-" " D1&'" " B'+" D"
+-I,('1'B@"""D(?"" %(?2&+*@"">D&-O""R'/-E-*G""%+"""%&""('+""-('2B," +'""&D@""+,D+""/-"",DE-
=]P"
+,-&-" " " D(?" " " +,-(" " D1&'" " " &D@" " +,D+" " /-" " ,DE-" " -E-*@+,%(BG" " /-" "/%11" " " +DC-" " ID*-" " ')"
'2*&-1E-&""/%+,'2+""3DC%(B"""+''""32I,""')""D(""-))'*+O""W-""",DE-"""+'"""/'*C"",D*?O""W-"
,DE-" " +'" " "/'*C"" +'B-+,-*" " D&" " D"I'2(+*@O" "W,%1-" +,-" "ED*%-&" " " " %(?2&+*%-&G" "B'E-*(3-(+"
DB-(I%-&G""A*%ED+-"""%(?%E%?2D1"GXjJ""1D>G"""+,-"".6:&"""D(?""3-?%D"""D11"""ID("""I'(+*%>2+-G"
+,-" " "3Da'*" " &'2*I-&" "')" " " %(&A%*D+%'(" " D(?" " " -(D>1%(B" " I'3-&" " " )*'3" " "'2*" " " 1-B%&1D+%E-"
D&&-3>1%-&" "/%11" " "A*'I1D%3" +'""+,-""(D+%'(""h8(?%DY&"&-I'(?"E%&%'(&" %&"J-E-1'A-?"8(?%D"
>-)'*-"=K=KYO"U,%&"E%&%'("&+D+-3-(+"+'"+,-"(D+%'("%&"-&&-(+%D1O"8+"/%11"+*%BB-*"+,-">%*+,"')"D"
3'E-3-(+")'*"D"A*'&A-*'2&"8(?%DO"W-",DE-"?-&I*%>-?"3D(@"DI+%'(&"+,D+"D*-"A'&&%>1-O"W-"
,DE-" ('+" 1%&+-?" '2+" &'3-" '>E%'2&" -fD3A1-&^" %)" @'2" D*-" D" ?'I+'*" @'2" ID(" -f+-(?" +,-"
>-(-)%+&"')")*--"D(?"%(-fA-(&%E-"3-?%ID1"D%?"+'"+,-"A''*"D+"1-D&+"+'"D"1%3%+-?"-f+-(+g"%)"@'2"
D*-"D"*%I,">2%1?%(B"I'(+*DI+'*G"3DC-"%+"D"A'%(+"+'"&A-(?"'("@'2*"'/("'*"%("D"I''A-*D+%E-"
/D@" +'" %3A*'E-" &'3-" AD*+&" ')" +'/(" '*" I'(&+%+2+-" +'" *2*D1" I'((-I+%E%+@" D*'2(?" D" )-/"
E%11DB-&g" &%3%1D*1@G"-fc&-*E%I-3-("ID("D++-3A+"+'"'*BD(%d-"D" )-/"A*'?2I+%E-"DI+%E%+%-&" %("
E%11DB-&"'*"&3D11"+'/(&O"W*%+-*&"')"+-f+>''C&"ID("3DC-"D"A'%(+"')"D??%(B"D")-/"ADB-&"'( D"
?-E-1'A-?"8(?%D"D(?"-3A,D&%d%(B"+,D+"D11"')"2&",DE-"D"*'1-"%("3DC%(B"%+O"#"B*-D+"(D+%'("%&"
3D?-"')"I'(+*%>2+%'(&")*'3"D"1D*B-"(23>-*"')"'*?%(D*@"A-*&'(&O"
X-I-(+1@"D"A'/-*)21"D?3%(%&+*D+'*"/D&"+D1C%(B"+'"2&"D>'2+"+,-"DAA1%ID+%'(&"
')"+-I,('1'B%-&"D(?"%()'*3D+%'("+-I,('1'B@G"8("AD*+%I21D*")'*"+,-"DB*%I21+2*D1"&-I+'*O"W-"
/-*-"-fA1D%(%(B"D>'2+" +,-"(--?" +'" *-DI,"PQK"3%11%'(" +'(-&"')" )''?"B*D%("A*'?2I+%'(">@"
=K=K"D(?"+,-")DI+"+,D+"%+"ID(('+">-"DI,%-E-?""/%+,'2+"&-1-I+%E-"%(a-I+%'("')"+-I,('1'B%-&"')"
/D+-*"3D(DB-3-(+" &2I," D&" ?*%A" %**%BD+%'(G" I'(+*'11-?"2&-?"')" )-*+%1%d-*&G"3%I*'(2+*%-(+&"
D(?" A-&+%I%?-&" D(?" 3D(@" A'&+c,D*E-&+" +-I,('1'B%-&O" #11" +,-&-" +-I,('1'B%-&" D*-" 321+%c"
?%&I%A1%(D*@" )'*" -fD3A1-G" D" ?*%A" %**%BD+%'(" &@&+-3" /'21?" %(E'1E-" A1D&+%I&G" D?ED(I-?"
3-+D1&G" ,@?*D21%I" &@&+-3" ?-&%B(&G" /D+-*" +*-D+3-(+" +-I,('1'B%-&G" &'%1" D(D1@&%&" &@&+-3G"
I'3A2+-*&G"&-(&'*&"D(?"-E-("D2+'3D+%I"I'(+*'1"&@&+-3&O"
U,-"*-DI+%'("')"+,-"D?3%(%&+*D+'*"/D&"+'"(D**D+-"D"/,'1-"&-*%-&"')"&2>&%?%-&"
+'"+,-")D*3-*&G"+,-"A'1%+%ID1"AD+*'(DB-"D+"E%11DB-G"&+D+-"D(?"(D+%'(D1"1-E-1&"D(?"'+,-*"%&&2-&"
')" 1D/"D(?"'*?-*O"R'/"ID("@'2"%(+*'?2I-"+,-&-"+-I,('1'B%-&e"U,-"B-(-*D+%'("D(?"2&-"')"
+-I,('1'B%-&")'*"(D+%'(D1"?-E-1'A3-(+",D&"+'">-"%(%+%D+-?"A'1%+%ID11@O"92+G"/-">-1%-E-G"%+"%&"
-b2D11@"%3A'*+D(+"+,D+"+-I,('1'B%-&",DE-"+'">-"3D*C-+-?"+'"+,-"A'1%+%ID1"&@&+-3O
=]T"
U,%&" %&"('+"+@A%ID1"')"+,-"DB*%I21+2*D1"&I-(-"D1'(-O"F''C"D+"3D(2)DI+2*%(BO"
W-" ,DE-" ?%&I2&&-?" D+" &'3-" 1-(B+," +,-" I'(I-A+&" ')" H'3A2+-*" #%?-?" 0D(2)DI+2*%(B"
MH#0N" D(?" _1-f%>1-" 0D(2)DI+2*%(B" &@&+-3&" M_0<N" O" W-" ,DE-" ?%&I2&&-?" D>'2+" 1D&-*"
I2++%(B"D(?"/D+-*" a-+"I2++%(B"D&"(-/"+''1&O"W-",DE-"?%&I2&&-?"D>'2+"+,-"-E-*c%(I*-D&%(B"
*'1-" ')" &')+/D*-" D(?" 8U" %(" +,-"3D(2)DI+2*%(B" &-I+'*O".'/" 1''C" D+" +,-" E%11DB-" '*" +'/("
D*+%&D(&g" +,-@" ?'" ('+" ,DE-" D" 1D+,-" '*" ?*%11%(B" 3DI,%(-O" 0'&+" &3D11c&ID1-" 2(%+&" ,DE-"
'>&'1-+-" -b2%A3-(+O" 5E-(" %(" +,-" I'*A'*D+-" &-I+'*" +,-*-" D*-" )DI+'*%-&" 2&%(B" 3DI,%(-*@G"
/,%I,"%&"+/'"'*"+,*--"B-(-*D+%'(&"'1?O"W-"D11"C('/"D>'2+"+,-"0D*2+%"&+'*@^"/,%1-" %+",D&"
?'(-" D" +*-3-(?'2&" a'>" %(" ?-E-1'A%(B" 3D(2)DI+2*-&" ')" &3D11" I'3A'(-(+&" /%+,%(" +,-"
I'2(+*@G" )'*" +,-" C-@" &2>&@&+-3&" ')" +,-" ID*" +,-" I'3AD(@" ,D&" +'" *-1@" 2A'(" %+&" [DAD(-&-"
AD*-(+"I'3AD(@O"U-1I'",D&">--("*-1D+%E-1@" &2II-&&)21" %(">2%1?%(B"2A"D(" %(c,'2&-"?-&%B("
IDAD>%1%+@G"+,'2B,"%+"3D@"('+"D&"@-+">-"D+"+,-"I2++%(B"-?B-"')"D2+'3'>%1-"+-I,('1'B@O"_'*"
3D(@" 8(?%D(" I'3AD(%-&G" +,-" ?-A-(?-(I-" '(" -f+-*(D1" C('/&" ,'/" )'*" ?-&%B(" D(?"
+-I,('1'B@"*-3D%(&"E-*@",%B,O"
S-&G"/-",DE-"%("+,-"DB*%I21+2*D1"&-I+'*"E%&%>1-"&%B(&"')"+,-"'AA*-&&%E-"A*'>1-3&"')"
+,-"AD&+cA'E-*+@"D(?")-2?D1%&3O"R'/-E-*G"-E-("&-E-*-"I*%+%I&"/%11"DB*--"+,D+"+,-*-"D*-"
3D(@">*%B,+"&A'+&O"<%3%1D*1@G"+,-"3D(2)DI+2*%(B"&-I+'*"-f,%>%+&"+,-"-))-I+&"')"I'1'(%D1"
?'3%(D+%'("D(?"+,-"2(-E-("A'1%I%-&"')"+,-"AD&+")%)+@"@-D*&O"U,-"B-(-*D1"8(?%D("3-+,'?"
')"+DC%(B"+,-"&')+"'A+%'("+,*'2B,"%3A'*+&"'("+,-"I'(?%+%'(&"1D%?"'2+">@"+,-"A*%(I%AD1&"
%&"-E%?-(+"+''O"<+%11G"%+"%&"&,'/%(B"%(I*-D&%(B"?@(D3%&3O"
8+"%&"(-%+,-*"A'&&%>1-"('*"*-1-ED(+"+'"+D1C"')"'(-"&%(B1-"&-+"')"DI+%'(&")'*"+,-"/,'1-"
')" 8(?%DO"U,-*-" D*-"3D(@" DI+%'(&"/,%I," (--?" +'">-" +DC-(O" 8+" %&" ('+" (-I-&&D*@" D11" ')"
+,-3"&,'21?">-"
&+D*+-?"D+"+,-"&D3-"+%3-"/%+,"D"&%(B1-"+*%BB-*"&,'+"h6:sY":*"+,D+"+,-@"I'()1%I+"/%+,"'(-"
D('+,-*O"
_'*"-fD3A1-G"/-"(--?"+'"+DIC1-"+,-"A*'>1-3&"')"&3D11"D(?"3D*B%(D1")D*3-*&^"-E-("
)'*" +,%&G" &'12+%'(&" D*-" 3D(@O" 8+" 3D@" ('+" >-" A'&&%>1-" +'" &'1E-" +,-3" D11" D+" +,-"
+-I,('1'B%ID1"1-E-1"D&"+,-"
,'1?%(B&"D*-"&'"&3D11O"U,-*-)'*-"-fA-*%3-(+%(B"/%+,"&'3-"'*BD(%dD+%'(D1"3-I,D(%&3&"
')"/'*C%(B"'2+"I''A-*D+%E-&"'*"I'*A'*D+-"AD*+(-*&,%A&"/%11">-"2&-)21O"U,-*-"D*-"D1&'
=]Q"
%(+-*3-?%D+-" &'12+%'(&" ')" ,DE%(B" 3D*B%(D1" %3A*'E-3-(+&" D+" +,-" 1-E-1" ')"
&3D11,'1?%(B&O"5E-("/,%1-"?'%(B"+,-&-G"8(?%D",D&"
+'"A*-AD*-")'*",%B,-*"+-I,('1'B%ID1"1-E-1"DI+%'(&")'*"*-D1%d%(B"+,-")211"A'+-(+%D1"')"+,-"
1D(?c/D+-*c/-D+,-*"&@&+-3"%("D"&2&+D%(D>1-"3D((-*O"U,%&"3D@">-"ID11-?",%B,c&I%-(I-"
'*",%B,c"
+-I,"DB*%I21+2*-O"
8("D"&%3%1D*"3D((-*O"W-"(--?"+'",-1A"D" 1D*B-"(23>-*"')" +%(@"3D(2)DI+2*-*&"D(?"
+,'2&D(?&"')"&3D11c&ID1-"2(%+&"+,*'2B,"D(I%11D*%dD+%'(G"3D*C-+%(B"I,D((-1&"D&"/-11"D&"
+-I,('1'B%ID1"%(A2+&O"5E-("/,%1-"?'%(B"&'G"/-"(--?"+'"+DC-"DI+%'("+'"IDA+2*-"+,-"/'*1?"
3D*C-+&"/%+,",%B,c+-I,"3D(2)DI+2*%(BO"W-"ID(('+"D))'*?"+'"+DC-"'2*"A*-c-3%(-(I-"%("
+,-"3D(2)DI+2*%(B"/'*1?"')"+,-")2+2*-")'*"B*D(+-?O"
W-"/-*-" +'2I,-?" >@" +,-" *-I-(+" '>&-*ED+%'(&" >@" HO" <2>*D3D(%D(" +'" D" B*'2A"')"
%(?2&+*%D1%&+&O" W,%1-" ?%&I2&&%(B" (-/-*" %(%+%D+%E-&" %(" DB*%I21+2*-G" ,-" &D%?" +,-"
U-I,('1'B@"$%&%'("=K=K"?'I23-(+&"I'(+D%("D"*%I,"&'2*I-"')"%()'*3D+%'("D(?"
DI+%'(" A'%(+&O" W-" &,'21?" ('+" /D%+" )'*" B-(-*D1" A'1%I%-&" +'" -3-*B-" >2+" 1D2(I,"
?-3'(&+*D+%'("A*'a-I+&g"+,-*-"%&"A1-(+@"')"&I'A-")'*"&2I,"1'ID1"'*"*-B%'(D1" %(%+%D+%E-&O"
H<" %&" +,-" D*I,%+-I+" ')" 8(?%DY&" )''?" &-I2*%+@O"R-" &+D*+-?" +,-" DI+%'(&" +,*'2B," &A-I%)%I"
?-3'(&+*D+%'(" A*'a-I+&" D(?" +,'2&D(?&" ')" )D*3-*&" &D/" +,-" &2II-&&-&O" U,-" 6*--("
X-E'12+%'(" )'11'/-?O"W%+," ,%&" *-I-(+" '>&-*ED+%'(&"/-" D*-" ?'2>1@" I'(E%(I-?"')" +,-"
DAA*'DI,"/-"D*-"&2BB-&+%(B^"+,D+"%&"D11"')"2&",DE-"D"*'1-"+'"A1D@g"DI+%'(&"D*-"3D(@g">2+"
+,-"B'D1"%&"'(-O"
U,-*-)'*-G"/-" )%(?"D"*'1-" )'*"-E-*@"DI+%'("D%3-?"D+"3DC%(B":.5"J5$5F:45J"
8.J8#O"
:2*"DAA-D1"D(?"*-b2-&+"?-&I*%>-?",-*-"%&">*%-)1@"D&"2(?-*O"
S'2""M#"+-DI,-*G">D(C-*G" J-E'+-"D")-/"?D@&"%("D"3'(+,"+'"
?'I+'*G"D?3%(%&+*D+'*"'*" ?'%(B"""&'3-+,%(B""">-++-*g"
'+,-*"A*')-&&%'(D1N" &'3-+,%(B""&A--?%-*g"&'3-+,%(B"
')",%B,"b2D1%+@g"&'3-+,%(B"/,%I,"
/%11"3DC-"@'2"A*'2?g"&'3-+,%(B"
/,%I,"/%11"3DC-"D"A''*-*"'*"
&2))-*%(B"A-*&'(Y&"1%)-"D"1%++1-
=]]"
>-++-*O"
6'E-*(3-(+" :(-"3%&&%'("-DI,"+'"*-D1%d-"+,-"
3%(%&+*%-&n" E%&%'("')"?-E-1'A-?"8(?%D"/%+,"
?-AD*+3-(+&" %(+-*(D1"I'*-"&+*-(B+,O"4*-)-*D>1@"
%("AD*+(-*&,%A""/%+,""'+,-*"
?-AD*+3-(+&G"DB-(I%-&G".6:&"D(?"
A*%ED+-"&-I+'*O"J'(Y+"/D%+"+'"&+D*+O"
H-(+*D1"4<7&" :(-"A*'a-I+"-DI,"+'"3DC-"D"
?-E-1'A-?"8(?%DO""7(1-D&,"@'2*"
+-I,('1'B%ID1"&+*-(B+,&O"U,%&"%&"
%("D??%+%'("+'"+,-"3%&&%'("@'2*"
3%(%&+*@"3D@"1D2(I,"D(?")'*"
/,%I,"@'2"/%11"I'(+*%>2+-O"
<+D+-"4<7&" #+"1-D&+"%("'(-"D*-D"+*D(&)'*3"
@'2*&-1)"+'"&-*E%I-"+,-"A-'A1-"%("
@'2*"D*-DO"8)"A'&&%>1-"1D2(I,"'(-"
A*'a-I+"/%+,"AD*+(-*&"'("&%3%1D*"
1%(-&"+,D+"B'-&">-@'(?"@'2*"
*-B%'(O"
XjJ"1D>&n#ID?-3%I" @'2",DE-"+,-"2(%b2-"'AA'*+2(%+@"
%(&+%+2+%'(&" +'">-"+,-")*'(+c*2((-*O"5DI,"1D>"
'*"%(&+%+2+%'("+'"1D2(I,"&2I,"D"
A*'a-I+"')"@'2*"'/(G"%("D??%+%'("
+'"I'(+*%>2+%(B"+'"3%&&%'(&G"4<7"
A*'a-I+&G"-+IO"S'2"/%11")%(?")%(D(I%D1"
I'(+*%>2+%'(&"-E-("D*'2(?"@'2*"
D*-DO"
4*%ED+-"&-I+'*" -DI,"1D2(I,-&"D"A*'a-I+"&%3%1D*"+'"
M1D*B-"%(?2&+*@N" /,D+"%&"&2BB-&+-?")'*"4<7&G"%("
D??%+%'("+'"%+&"'/("I'*A'*D+-"
A1D(&"D(?"'+,-*"?-3D(?&"A1DI-?
=]L"
'("%+">@"B'E-*(3-(+"&A'(&'*-?"
3%&&%'(&"D(?"A*'a-I+&O"#1&'"I*-D+-"
A*'a-I+&"+'"2A1%)+"'2*"&3D11c&ID1-"
%(?2&+*%-&"+-I,('1'B%ID11@"D(?"
-E-("DB*%I21+2*-O"
<3D11c&ID1-"&-I+'*" 5E-("+,'2B,"@'2*"A*'>1-3&"D*-"
3D(@"1''C"D,-D?O"F-D*("+'"
IDA+2*-"D")-/"+-I,('1'B%ID1"
&+*-(B+,&O"HD+I,",'1?"')"D"(-D*>@"
DID?-3%I"%(&+%+2+%'("'*"D"1D>'*D+'*@O"
S'2"/%11")%(?"&'3-"A-*&'(&"/%+,"
%(('ED+%E-"h)%*-Y"%("+,-3O":(I-"
@'2")%(?"D"C('/1-?B-"&'2*I-"
*-1-ED(+"+'"@'2*">2&%(-&&G"@'2"
/%11"
)%(?"+,D+"1%)-"%&">-%(B"+*D(&)'*3-?"
)'*"@'2O"
0.H&" S'2",DE-"D"*'1-"+'"A1D@O"8("D??%+%'("
+'"@'2*"'/("I'(I-*(&"')"A*')%+"
D(?"@'2*"B1'>D1"&+*D+-B%-&G"
1''C"D+"+,-"'(-c>%11%'(cA12&"
H'2(+*@"/%+,"%(,-*-(+"&+*-(B+,&"
D&"D"AD*+(-*"D(?"('+"D&"D"&,'*+c"
+-*3c3D*C-+O"J-3'(&+*D+-"I1-D*1@"
+,*'2B,"'(-"'*"+/'"A*'a-I+&"-DI,"
+,D+"@'2"/D(+"+'"D(?"ID("I*-D+-"
I'*-"I'3A-+%+%E-"+-I,('1'B%ID1"
&+*-(B+,&"/%+,%("8(?%DG"+'",-1A"%+&"
3D*I,"+'/D*?&"D"?-E-1'A-?"&+D+2&O"
#"&3D11",-1A"D+"+,-"*%B,+"+%3-"%&"
>-++-*"+,D("D"1D*B-*",-1A"+'"D
=]V"
A-*&'("/,'"?'-&"('+"(--?"%+"D+"
+,D+"+%3-s"S'2",DE-"D("
'AA'*+2(%+@"+'"I'(+*%>2+-"+'"D"
3'3-(+'2&"+D&CO"
.6:&" S'2*"*'1-"%&"D&"321+%)D*%'2&"D(?"D&"
I'3A1-f"D&"8(?%DO"U*@"+'",-1A"%("
I*-D+%(B"D"I1%3D+-")'*"A'&%+%E-"
DI+%'(&"D(?"D"*-AD%?"I,D(B-")'*"
+,-">-++-*O"
0-?%D" <A*-D?"+,-"3-&&DB-"')"&2II-&&G"
,'/-E-*"&3D11 +,-"&2II-&&-&"D*-O"
U,-*-"D*-"3D(@"B*%3"-E-(+&"D(?"
?-E-1'A3-(+&"+,D+"@'2",DE-"+'"
I'E-*G" >2+"+,-"A'&%+%E-"ID("D1&'">-"
(-/&O"92%1?"2A"D("%3DB-"')"D("
8(?%D"/%+,",2(?*-?&"D(?"
+,'2&D(?&"')",-*'-&"D(?",-*'%(-&"
/,'"D*-"I,D(B%(B"+,-"I'2(+*%-&"
?-&+%(@"O!
"6=;<B0=;,!07=D96U!)9>>D+D.D=D;>"
8(" +,-&-" +/-1E-" I,DA+-*&G" /-" ,DE-" ?%&I2&&-?" '2*" E%&%'(" )'*" D" ?-E-1'A-?" 8(?%D" D(?" +,-"
A'&&%>1-"/D@&"')"+*D(&)'*3%(B"%+"%(+'"*-D1%+@"%("+/'"?-ID?-&O"#"(23>-*"')"D*-D&",DE-">--("
I'E-*-?O"R-*-G"/-"/%&,"+'"&2BB-&+",'/"-DI,"D(?"-E-*@"8(?%D(G"%("?%))-*-(+"/D1C&"')"1%)-G"
ID("I'(+*%>2+-"+'/D*?&"*-D1%d%(B"+,-"E%&%'(")'*"+,-"(D+%'(O"
U,-" D2+,'*&" ,-1?" ?%&I2&&%'(" /%+," -I'('3%I&G" DB*%I21+2*D1" -fA-*+&G" D(?"
+-I,('1'B%&+&" )*'3"?%))-*-(+" )%-1?&G" )*'3" %(?2&+*@G"B'E-*(3-(+"D?3%(%&+*D+'*&"D+"ED*%'2&"
1-E-1&G"('(cB'E-*(3-(+D1"A*')-&&%'(D1&"D(?"DI+%E%+%-&G"3-?%D"A-*&'(&"D(?"A'1%+%ID1"1-D?-*&"
D+"?%))-*-(+")'*DO"W-"I'(I12?-?"+,D+"I'(I-*+-?"-))'*+&"%(")%E-"D*-D&"I'21?"1-D?"+'"D"3Da'*"
3'E-3-(+"+'/D*?&"+*D(&)'*3D+%'("')" +,-"(D+%'(O"U,-&-" )%E-"D*-D&"D*-"3D*C-?">@"&+*'(B
=]\"
%(+-*1%(C"DB-&"D(?"A*'B*-&&" %("D(@"'(-"')" +,-3"/%11" 1-D?"+'"&%321+D(-'2&"DI+%'(" %("'+,-*"
D*-D&"D&"/-11O"U,-")%E-"D*-D&"D*-",%B,1%B,+-?">-1'/O!
%<BD7-.=-B;!06,!J99,!AB97;>>D6<U"8(?%D"&,'21?",DE-"D"3%&&%'("+'"DI,%-E-"D"A*'?2I+%'("
')"3%(%323"')"P]K"3%11%'("+'(-&"')")''?"B*D%(&"%("+/'"?-ID?-&O"U,%&"/%11"D11'/")'*"B''?"
?'3-&+%I"I'(&23A+%'("D(?"&+%11"1-DE-"D"&2))%I%-(+"3D*B%(")'*"B''?"-fA'*+&"D(?"D%?"+'"'+,-*"
I'2(+*%-&O" U,%&" 3%&&%'(" /%11" ?-3D(?" D" B*-D+" *-E'12+%'(" %(" *-&-D*I,G" +-I,('1'B@"
?-E-1'A3-(+G"DB*%I21+2*D1"-f+-(&%'("&-*E%I-&"D(?"D>'E-"D11"D"3Da'*"(-+/'*C"')"3D*C-+%(BG"
&+'*DB-"D(?"?%&+*%>2+%'(O!
L.;7=BD7!A9:;BU" U,%&" %&" +,-"3'&+" %3A'*+D(+" AD*+"')" +,-" %()*D&+*2I+2*-O"9-&%?-&" D&&2*%(B"
A-'A1-" ')" ?'3-&+%I" I'3)'*+G" %+" %&" %3A-*D+%E-" )'*" %(I*-D&%(B" )''?" A*'?2I+%'(G" D(?" +'"
&2AA'*+"D"/,'1-",'&+"')"3D(2)DI+2*%(B"'A-*D+%'(&G" %(" +,-"-(B%(--*%(B"D(?"I,-3%ID1"D(?"
3D+-*%D1"A*'I-&&%(B"%(?2&+*%-&G"D&"/-11"D&" %("+,-"&3''+,"'A-*D+%'("')"+,-"-(+%*-"+*D(&A'*+G"
I'332(%ID+%'(&"D(?" %()'*3D+%'(" &-I+'*G" D11"')"/,%I,"D*-" E%+D1" +'"-I'('3%I"B*'/+,"D(?"
-3A1'@3-(+O"U,-"B*'/+,"')"D"(D+%'(Y&"6J4"%&"E%+D11@"1%(C-?"+'"+,-"DED%1D>%1%+@"')"-1-I+*%I"
A'/-*O" 8(?%DY&" %(&+D11-?" A'/-*" IDADI%+@" +'?D@" %&" D>'2+" VQKKK"0WO":(1@" D>'2+" P=KKK"
0W"*-DI,-&"+,-"I'(&23-*O"U,-*-"%&"&,'*+DB-"') D>'2+"!Q"A-*"I-(+"%("+,-"A-DC"A'/-*"/%11"
'(1@" 321+%A1@" >-ID2&-" ')" +,-" B*'/+," %(" +,-" ?-3D(?" )*'3" ED*%'2&" &-I+'*&O" 833-?%D+-"
DI+%'("%&"(--?-?"+'"B*-D+1@"&+-A"2A"+,-"B-(-*D+%'("')"-1-I+*%I%+@")*'3"I'D1G"BD&G",@?*'"D(?"
(2I1-D*"&'2*I-&O"X-&-D*I,"'("'+,-*"&'2*I-&"')"-(-*B@"D1&'",D&"+'">-"-(,D(I-?O"
#AD*+" )*'3"B-(-*D+%'("')"A'/-*G"D('+,-*"3Da'*"3%&&%'(" %&" +'"-(&2*-" %+&"-))%I%-(+"
+*D(&3%&&%'(O"U,-"I'(&23-*" %&" %(+-*-&+-?"%("+,-"DI+2D1"b2D1%+@"')"A'/-*"+,D+"%&"DED%1D>1-G"
D(?"('+"%("+,-"&+D+%&+%I&"')"+,-"%(&+D11-?"IDADI%+@"')"B-(-*D+%'(O"R-*-"+,-"+-I,('1'B%-&"D(?"
&@&+-3&"3D(DB-3-(+")'*"I'2(+*@/%?-"?%&+*%>2+%'("%&"')"I*2I%D1"%3A'*+D(I-O"
H'(&23-*&" +''" ,DE-" +'" >-" ID*-)21O" 4*-I%'2&" A'/-*" &,'21?" ('+" >-" /D&+-?" >@"
%(-))%I%-(+" -b2%A3-(+G" )D(&G" D(?" 1%B,+&" '*" '+,-*" %(?2&+*%D1" D(?" ?'3-&+%I" DAA1%D(I-&" '*"
DB*%I21+2*D1" -b2%A3-(+O" U,-*-)'*-G" +-I,('1'B%-&" )'*" -(-*B@c-))%I%-(+" -(?" 2&-" DAA1%D(I-&"
D*-"')"I*2I%D1"%3A'*+D(I-"+'"8(?%DO!
L,-70=D96!06,!@;0.=@U"8("+,-")%*&+"I,DA+-*"/-"&A'C-"')";2AA2"D(?";D*2AAD(O""U,-@"D*-"
*-A*-&-(+D+%E-" ')" D>'2+" ]K" A-*I-(+" ')" 8(?%DY&" A-'A1-O" U,-&-" +/'",DE-" +,-" 2*B-" D(?" +,-"
/%11%(B(-&&"+'"/'*C",D*?O"92+">-ID2&-"')"+,-"1DIC"')"-?2ID+%'("+,-@"D*-"2(D>1-"+'"2+%1%d-"
+,-"DED%1D>1-"'AA'*+2(%+%-&")'*">-++-*"-3A1'@3-(+"'*"+'"%3A*'E-"+,-%*"&+D(?D*?"')" 1%E%(BO
=LK"
4-'A1-"1%C-";2AA2"D(?";D*2AAD(",DE-"+'"%3A*'E-"+,-%*"-?2ID+%'(D1" 1-E-1&O"8("+2*(G"+,-%*"
I,%1?*-(" D1&'" ,DE-" +'" >*-DC" '2+" ')" +,-%*" -?2ID+%'(D1" ,D(?%IDAO" U,-" 1DIC" ')" -?2ID+%'(D1"
'AA'*+2(%+%-&"D(?"+,-%*"A''*"-b2D1%+@"')"1%)-"A-*A-+2D+-"+,-%*"A'E-*+@O".'(c"DED%1D>%1%+@"')"
A*-E-(+%E-",-D1+,"ID*-" )2*+,-*"/-DC-(&"+,-%*">'?%-&"D(?"+,-*-)'*-"+,-%*"IDAD>%1%+%-&O"HD("
/-">*-DC"+,%&"E%I%'2&"I%*I1-e"
4*')" 8(?%*-&D(G" /,'" 1-?" +,-" U8_#H" AD(-1" +'" %?-(+%)@" +,-" ?*%E%(B" )'*I-&" D(?"
%3A-?D(I-&G",D&"+*%-?"+'"A'%(+"+,-"/D@"'2+O"8(?%D(&"&,'21?">-"A*'E%?-?"DII-&&"+'")%*&+c*D+-"
-?2ID+%'(" D(?" &C%11" ?-E-1'A3-(+" 'AA'*+2(%+%-&O" U,%&" ID(('+" >-" ?'(-" >@" +,-" A*-ED1-(+"
3-+,'?&"')"E%11DB-"&I,''1&"'*"'+,-*"&I,''1&"D(?"%(&+%+2+-&"%("+'/(&"D(?"I%+%-&O"W-"(--?"+'"
I*-D+-" I12&+-*&" ')" E%11DB-&" /%+," -fI-11-(+" %(+-*(D1" I'((-I+%E%+@" +,*'2B," *'D?&" D(?"
I'332(%ID+%'(&"/,%I,"%&"D1&'"1%(C-?"+'"(-D*>@"2*>D("I-(+-*&O"U,-&-"*2*D1"I12&+-*&"/'21?"
,DE-" b2D1%+@" I-(+-*&" ')" -?2ID+%'(G" D(?" ,-D1+," &2AA'*+" )DI%1%+%-&O" 4-'A1-" ID(" -D&%1@"
I'332+-">-+/--("+,-"E%11DB-&"D(?"DIb2%*-"+,-">-&+"&C%11&"D(?"-?2ID+%'(O"U,-%*"DII-&&"+'"
/-11c-b2%AA-?" ,-D1+," ID*-" I-(+-*&"/%11" >-" +,-" (-I-&&%+@O" U,-&-" I-(+-*&"/'21?" ,DE-" +,-"
C('/1-?B-" >D&-" +'" D?E%&-" +,-3" '(" A*-E-(+%E-" ,-D1+," ID*-" 3-+,'?&O" U,-" +-DI,-*&" '*"
3-?%ID1" A-*&'((-1" %(" +,-&-" b2D1%+@" I-(+-*&" /'21?" D1&'" ,DE-" DII-&&" +'" '+,-*" -fA-*+&" %("
8(?%D" D(?" -E-(" D>*'D?" +,*'2B," I'332(%ID+%'(" I'((-I+%E%+@O" F-+" 2&" ('+" )'*B-+" 8(?%DY&"
-fI-11-(+" DI,%-E-3-(+&" %(" &D+-11%+-" I'332(%ID+%'(&O" 9-&%?-&" +-I,('1'B%ID1" -fA-*+%&-G"
/,D+" %&" *-b2%*-?" %&" B''?" A'1%+%ID1" D(?" 3D(DB-*%D1" 1-D?-*&,%A" D11" 'E-*" +,-" I'2(+*@" +'"
%3A1-3-(+"+,%&"3%&&%'(O"F-+"('+"+,-"I,%1?*-("D(?"B*D(?I,%1?*-("')";2AA2&"D(?";D*2AAD(&"
D*-",D(?%IDAA-?O"W-"ID("DI,%-E-"D("8(?%D"/%+,'2+"&2I,",D(?%IDA&">@"=K=KO!
"6J9B10=D96!=;[email protected]<GU"8("+,-"U-I,('1'B@"$%&%'("?'I23-(+G"&')+/D*-"-(B%(--*%(B"D(?"
D&&'I%D+-?"8U"A*'?2I+&"D(?"&-*E%I-&"D*-"%3A'*+D(+"I'*-"I'3A-+-(I%-&O"_'*+2(D+-1@G"D1*-D?@"
D"?-I%&%'(",D&">--("+DC-("D+"+,-"(D+%'(D1" 1-E-1" +'"3DC-"8(?%D"D(" %()'*3D+%'("+-I,('1'B@"
&2A-*A'/-*"%("D>'2+"D"?-ID?-O"W,-("+,%&"+D&C")'*I-"')"8U"%&"?-1%>-*D+%(B"%+&")%(D1"*-A'*+G"
+/'" %3A'*+D(+" %+-3&"3D@">-"I'(&%?-*-?" >@" +,-3" )'*" &A-I%D1"DI+%'(O"#11"')"2&" )--1" 8(?%D"
,D&" +,-" %(+-11-I+2D1"A'/-*" )'*",%B,-*" 1-E-1&"')" &')+/D*-O"R%B,c1-E-1" &')+/D*-"A*'E%?-&" D"
I,D11-(B-")'*"'2*">-&+"3%(?&"D(?"D+"+,-"&D3-"+%3-"%+"%&"D"/-D1+,"B-(-*D+'*O"U,%&"&,'21?">-"
)'I2&-?"2A'("D&"D"3%&&%'("D*-D"%("8UO"8)"+,-"(-I-&&D*@"-(D>1%(B"I'(?%+%'(&"D*-"A*'E%?-?G"
+,%&" &%(B1-"D*-D"ID("+*D(&)'*3"'2*"8UG"-1-I+*'(%I&"D(?"3D(2)DI+2*%(B"&-I+'*" %(+'"D"3Da'*"
-I'('3%I" -(+%+@O" #('+,-*" %+-3" *-1D+-&" +'" DI+%'(&" )'*" +,-" &A*-D?" ')" 8U" DAA1%ID+%'(&
=L!"
I'2(+*@/%?-" )'*"A2*A'&-" *D(B%(B" )*'3">''&+%(B">2&%(-&&" +'" &A*-D?%(B"C('/1-?B-"D>'2+"
)2(?D3-(+D1"*%B,+&"D(?"*-&A'(&%>%1%+%-&G"+'"%3AD*+"&C%11&G"+'"A*'E%?-"A*-E-(+%E-",-D1+,"ID*-"
%()'*3D+%'("D(?")'*"&-E-*D1"&2I,"%+-3&"A-*+D%(%(B"+'"DIb2%*%(B"D">-++-*"&+D(?D*?"')"1%E%(BO"
8+"ID(">-"D"E-*@"2&-)21"+''1")'*"+*D(&3%&&%'("')"-?2ID+%'("+'"-E-("+,-"*-3'+-&+"AD*+&"')"'2*"
I'2(+*@O"8(?%DY&"&@&+-3"')"-?2ID+%'("D(?"&C%11cB-(-*D+%'("ID(">-"+*D(&)'*3-?"%("D"?-ID?-"
%)"/-"ID( I*-D+%E-1@"D(?"A2*A'&-)211@"?-A1'@"%+"+-I,('1'B%-&O!
3=B0=;<D7!>;7=9B>U"U'"*-DI,"+,-"&+D+2&"')"D"?-E-1'A-?"8(?%DG"%("D??%+%'("+'"+,-")'2*"3-BDc"
3%&&%'(&"3-(+%'(-?">-)'*-G"+,-*-"%&"D("-b2D11@"%3A'*+D(+"3%&&%'(")'*"(D+%'(D1"&-I2*%+@O"8("
+'?D@Y&"-(E%*'(3-(+G"(D+%'(D1" &-I2*%+@" %&"?-*%E-?" )*'3" +,-" +-I,('1'B%ID1" &+*-(B+,"')" +,-"
(D+%'(g" +,D+" D1'(-" /%11" B%E-" 2&" +,-" *-D1" &+*-(B+,O" 8+" %&" 8(?%DY&" -fA-*%-(I-G" >-" %+" %("
DB*%I21+2*-" '*" %(" +,-" D*-D&" ')" +,-" (2I1-D*G" &ADI-" D(?" ?-)-(&-" *-&-D*I,G" +,D+" /,-("
E%&%'(D*%-&" &-+" D" 3%&&%'(G" *-&21+&" D*-" DI,%-E-?O" U,%&" &+*-(B+," %&" +'" >-" )2*+,-*" -fAD(?-?"
/%+,"+,-"I*-D+%'("')"D")-/"3Da'*"%(?2&+*%-&"%("D-*'&ADI-G"D?ED(I-?"-1-I+*'(%I&G"D?ED(I-?"
&-(&'*&" D(?" D?ED(I-?" 3D+-*%D1&O" U,-&-" %(?2&+*%-&" &,'21?" 'A-*D+-" %(" D" 3D*C-+c?*%E-("
-(E%*'(3-(+"/%((%(B" B1'>D1" 3D*C-+&O" _'*" -fD3A1-G" 8(?%D" &,'21?" >-" %(" +,-" >2&%(-&&" ')"
>2%1?%(B"&3D11"AD&&-(B-*"a-+&"-E-("/%+,"D("%(+-*(D+%'(D1"I'(&'*+%23O"F%C-/%&-"/-"&,'21?"
>-" %(" +,-" >2&%(-&&" ')" &-11%(B" &D+-11%+-" D(?" A*'E%?%(B" I'33-*I%D1" 1D2(I," &-*E%I-&O"
0D*C-+%(B"')"D-*'&ADI-"&@&+-3&G"A*'E%?%(B"D%*I*D)+"&2>c&@&+-3&G"3D%(+-(D(I-"&-*E%I-&"+'"
B1'>D1" I2&+'3-*&G" D&"/-11" D&" >2&%(-&&" %(" A*'?2I+&"/%+," D?ED(I-?" &-(&'*&" D(?" D?ED(I-?"
3D+-*%D1&G"&,'21?">-I'3-"D"A'*+"')"'2*"('*3D1">2&%(-&&O"W-"&,'21?"D1&'">-B%("DBB*-&&%E-"
3D*C-+%(B"')"ED*%'2&"?-)-(&-"&@&+-3&"&2I,"D&"3D%(">D++1-"+D(CG"B2(&G"FH#"+@A-"D%*I*D)+"
D(?" I-*+D%(" +@A-&" ')" 3%&&%1-&O" U,-" +,*2&+" +'/D*?&" &-1)c*-1%D(I-" &,'21?" >-" I'2A1-?" /%+,"
B1'>D1"3D*C-+%(BO"<2I,"D("DAA*'DI,"&,'21?">-I'3-" +,-" )'I2&" %(" +,-"&+*D+-B%I"&-I+'*O"8("
+,%&"?%*-I+%'(G"+,-"0%(%&+*@"')"?-)-(&-",D&"D"+-(c@-D*"A*')%1-")'*"%(?%B-(%dD+%'("')"?-)-(&-"
&@&+-3&" +'"DI,%-E-"LK"A-*"I-(+" %(?%B-('2&"A*'?2I+%'(" )*'3" +,-"A-*I-(+"PK"A-*"I-(+O"U'"
DI,%-E-"+,%&"B'D1G"+,-"?-)-(&-"XjJ"D(?"A*'?2I+%'("%()*D&+*2I+2*-"%&"D1*-D?@">-%(B"B-D*-?"
2A" D(?" +,-" AD*+(-*&,%A" ')" 8(?%D(" I'*A'*D+-" &-I+'*" ,D&" >--(" &'2B,+" +'" DII'3A1%&," +,%&"
3Da'*" +D&CO" <%3%1D*1@G" '+,-*" ?-AD*+3-(+&" ,DE%(B" +-I,('1'B%-&" A-*+D%(%(B" +'" &+*D+-B%I"
%(?2&+*%-&",DE-"+'"'A-("2A"+,-%*"+-I,('1'B%-&"+'"-&+D>1%&,"3Da'*"%(?2&+*%-&"/,%I, &-*E-"+,-"
321+%A1-"(--?&"')"?'3-&+%I"D(?"B1'>D1"3D*C-+&O
=L=!
"1A.;1;6=0=D96U" :2*" &2BB-&+%'(&" )'*" +,-&-" 3Da'*" 3%&&%'(&" ?'" ('+" -(E%&DB-" +,-" A*-&-(+"
3-+,'?&" ')" ?-AD*+3-(+D1" %3A1-3-(+D+%'(" '*" -fAD(?%(B" +,-" B'E-*(3-(+D1" &+*2I+2*-&O" 8(" '*?-*" +,D+"
8(?%D"3D*I,-&"+'/D*?&"+,-"I,-*%&,-?"B'D1"')"D"?-E-1'A-?"(D+%'(G"+,-*-"%&"D("2*B-(+"(--?"+'"
I,D(B-"+,-"A*-&-(+"3-+,'?&"')"/'*C%(B"D(?"+,-"3%(?&-+" +,D+",D&"?-E-1'A-?">-ID2&-"')"I-(+*D1%d-?"
A'/-*O"0D(@"-f%&+%(B"B'E-*(3-(+D1" &+*2I+2*-&""/'21?"(--?""+'">-"?*D&+%ID11@"*-?2I-?O" U,-*-"&,'21?"
>-"*-?2I+%'("')"3'('A'1%-&""D(?"D"B*-D+-*"I'3A-+%+%'(""%("+,-"%3A1-3-(+D+%'(""')"3D(@""ADICDB-&""')"
+,-&-"3-BD"k"3%&&%'(&O"U,-*-)'*-G"A*%ED+-""&-I+'*"AD*+%I%AD+%'(""/'21?"">-""*-b2%*-?""D1'(B"/%+,""3'*-"
1%>-*D1" " D(?" &%3A1%)%-?" " A*'I-?2*-&O" R-D1+,@" " I'3A-+%+%'(" " 1-D?&" " +'" B*-D+-*" -))%I%-(I@" " D(?"
%(('ED+%'(O"53A'/-*3-(+""')""%3A1-3-(+%(B"""+-D3&""/'21?""1-D?""+'"&A--?""%("DI+%'(""D(?"-(,D(I-"
IDAD>%1%+@" " +'" +DC-" *%&C&O" "W,-*-E-*" " +,-*-" " %&" D" " B'E-*(3-(+" " A*-&-(I-G" " %+&" "3'?-" "')" " 'A-*D+%'("
&,'21?"">-""3D?-"D"")DI%1%+D+%(B""'(-""D(?""+,-""A2>1%I""DII'2(+D>%1%+@""&@&+-3&""&,'21?">-""I,D(B-?"
DII'*?%(B1@O"
8(""I'(I12&%'("G""/-">-1%-E-""+,D+""+,-"")%E-"3-BD"k"3%&&%'(&"/,-("%(+-B*D+-?""D(?""%3A1-3-(+-?"
/%+,""D""(D+%'(D1""")'I2&"G""/%11""*-&21+"DI+%'(&"/,%I,""/%11""&,DA-""+,-""&-I'(?""E%&%'(""')""+,-"(D+%'("O"
+,-"(-I-&&D*@")%(D(I%D1G""3D(DB-*%D1""D(?",23D(""*-&'2*I-&""/'21?"")1'/"""")*'3"""+,'&-""/,'&-"3%(?&"
D*-""%B(%+-?G"%(I12?%(B""+,'&-"%("+,-"B'E-*(3-(+""D(?"""%(?2&+*%D1""&-I+'*&O"
W-""+,-*-)'*-"",DE-""D""?*-D3O"":2*""?*-D3""%&""+,D+"">'+,"""'2*",'2&-&""')"AD*1%D3-(+"/'21?"
D?'A+"D"*-&'12+%'("")'*""+,-""&-I'(?"E%&%'("')""D"B*-D+""(D+%'("^"h8(?%D""/%11"+*D(&)'*3""%(+'""D"
J-E-1'A-?" (D+%'(" >-)'*-" " +,-" " @-D*" =K=KO#" " >%11%'(" A-'A1-" " D*-" " '2*" " *-&'2*I-" " " )'*" +,%&" (D+%'(D1"
+*D(&)'*3D+%'(OY"U,%&"-E-(+"/%11""%(&A%*-""+,-""(D+%'(O"
PKQ" #)+-*/D*?"
8(?%D""%&""D""(D+%'(""')""D"">%11%'("""A-'A1-O""#""(D+%'(Y&"""A*'B*-&&""?-A-(?&""2A'("""",'/""%+&""A-'A1-"
+,%(C"O""8+""%&"""+,'2B,+&""/,%I,""D*-"""+*D(&)'*3-?"""%(+'"""DI+%'(&"O"8(?%D",D&""+'""+,%(C""D&""D""(D+%'(""')"
D""">%11%'(""A-'A1-O"F-+""+,-""@'2(B"""3%(?&"">1'&&'3 k")211""')""+,'2B,+&G"""+,-""+,'2B,+&"')""A*'&A-*%+@"
O
=LP!
%)L#$"f"F%&+""')""I,D%*A-*&'(&""D(?"H'cI,D%*A-*&'(&""U-I,('1'B@"
$%&%'(""=K=K"UD&C")'*I-&"""""""""""""""""""H,D%*A-*&'(&"""""""""H'cI,D%*A-*&'(&""""""0-3>-*"
<-I*-+D*@"
#B*'c)''?"""""""""""""""""""""""""""F%1D""4''(D"WD11D" HO;O"9D&2"
4*'I-&&%(B""""""""""""""""""""""""""".-/""J-1,%""""""""""""""""""".-/""J-1,%"
WD+-*/D@&""""""""""""""""""""""""""<O0"OJ2++D""""""""""""""""""""$OXDB,2*D3D(".-/""J-1,%""""""""""""""""""""""".-/"J-1,%"
X'D?"""""""""""""""""""""""""""""""""""J--ADC""9D(C-*""""""""""""J*O"#3%+""0%+*D"U*D(&A'*+c" .-/""J-1,%""""""""""""""""""".-/""J-1,%"+%'("
H%E%1""#E%D+%'(""""""""""""""""""""4*')"XO".D*D&%3,D""""""""SO<O"XDaD(""""""""J*""9OXO<'3D&-C,D*"9D(BD1'*-" .-/""J-1,%"""""""""""""""""""9D(BD1'*-"
51-I+*%I"""""""""""""""""""""""""""""""<,-C,D*""J2++D"""""""""""""""UD*2(""JD&"4'/-*""""""""""""""""""""""""""""""""""""".-/""J-1,%""""""""""""""""""""".-/""J-1,%"
U-1-I'332(%c" J*""9,%&,(2""JO4*D?,D("HD+%'(&""""""""""""""""""""""""""""""""""".-/""J-1,%"
#?ED(I-?""""""""""""""""""""""""""""J*""9O"9'/'(?-*"<-(&'*&""""""""""""""""""""""""""""""""""R@?-*D>D?
=LT!
KD>=!9J!?@0DBA;B>96>!06,!?9_!7@0DBA;B>96>"
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii"
4D(-1&""""""""""""H,D%*A-*&'("""""""""""""""H'cI,D%*A-*&'(&""""""""""0-3>-*"&-I*-+D*@"
_''?"j""""""""""""""""""""4*')""<O;"<%(,D"""""""""""""""""""""XO"XD(BD(D+,D("#B*%I21+2*-""""""""""""""".-/""J-1,%"""""""""""""""""""""""""""62(+2*"
5(B%(--*%(B""""""""""""""XOXD3DC*%&,(D("""""""""""""""""""$OXD?,DC*%&,(D("8(?2&+*%-&""""""""""""""""""H,-((D%"""""""""""""""""""""""""""""""""H,-((D%"
R-D1+,""HD*-""""""""""""""J*""0O<O"$D1%D+,D(""""""""""""""""J*"0O<O"9D3a%"0D(%AD1"""""""""""""""""""""""""""""""""R@?-*D>D?"
F%)-""<I%-(I-&"""""""""""""8O#O0'?%"""""""""""""""""""""""""""""""4*')"""#&%&""J2++D"j""9%'+-I,('c" #,3-?D>D?""""""""""""""""""""""""""".-/""J-1,%"1'B@"
0D+-*%D1&""""""""""""""""""""XO;O0D,DAD+*D"""""""""""""""""""""""J*"9O;O"<D*CD*"j"4*'I-&&%(B" R@?-*D>D?"""""""""""""""""""""""""""""""HD1I2++D"
<+-*E%I-&"""""""""""""""""""""4O<O"XD3D""0',D(""XD'"""""""""4*D3'?"";D1-"R@?-*D>D?""""""""""""""""""""""""""""""#,3-?D>D?"
<+*D+-B%I"""""""""""""""""""""4*')""7OXO"XD'" #O<%ED+,D(2"4%11D%"8(?2&+*%-&""""""""""""""""""""9D(BD1'*-"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""".-/"J-1,%"
51-I+*'(%I&""""""""""""""""""<D+%&,"";D2*D"""""""""""""""""""""""""""J*""#O;OH,DC*DED*+%"j I'332(%c" .-/"J-1,%""""""""""""""""""""""""""""""""".-/""J-1,%"ID+%'("
H,-3%ID1"""""""""""""""""""""FD1%+,D"9O"<%(B,""""""""""""""""""""""";OJ,D*D3"4*'I-&&""""""""""""""""""""""""".-/""J-1,%"""""""""""""""""""""""""""""""023>D%"8(?2&+*%-&"
J*%E%(B""""""""""""""""""""""""4*')""4O$O"8(?%*-&D("""""""""""""""""""XDa%E-"";D21"_'*I&-&""""""""""""""""""""""""".-/""J-1,%"""""""""""""""""""""""""""""""""HD1I2++D"j"83A-?D(I-&
=LQ"
U8_#H""<I%-(+%&+&""/,'""/-*-""I1'&-1@""D&&'I%D+-?""/%+,""+,-""I'c"'*?%(D+%'("+D&C&""')""+,-""U-I,('1'B@"E%&%'(""=K=K""5f-*I%&-"
!O<,*%"SO<OXDaD("G"5JcU8_#H"=OJ*"M<3+N"#O"#32?-&/D*%G"_'*3-*"4<:cU8_#H"POJ*"JO.O<%(B,G"J%*-I+'*cU8_#H"TO<,*%""J--ADC""9,D+(DBD*G"J%*-I+'*cU8_#H"QO<,*%"<O"9%&/D&G"J%*-I+'*c U8_#H"]O<,*%"XO"<D,DG"J%*-I+'*cU8_#H"LO0&"<2(%+D""WD?,/D"G"<*O"<I%-(+%)%I":))%I-*cU8_#H"VO"<,*%"UO"H,D(?*D&-C,D*G"<I%-(+%)%I"":))%I-*c"U8_#H!
I@;!I"\%?!N9F;B6D6<!!?9-67D.!AB9FD,;,!!=@;!9F;B0..!!<-D,067;(
=L]!
4;J;B;67;>!06,!\-B=@;B!4;0,D6<"
8("I'(I-A+2D1%d%(B"D(?"/*%+%(B"+,%&">''C"/-",DE-"?*D/("2A'("D"1D*B-"(23>-*"')"
D*+%I1-&"D(?">''C&O"<'3-">''C&"D(?"D*+%I1-&"D*-"&A-I%)%ID11@"*-)-**-?"+'"%("+,-"+-f+" %+&-1)"
OU,-" 3D+-*%D1" )*'3" +,-" U8_#H" *-A'*+" " hU-I,('1'B@" E%&%'(" =K=KY" ,D&" >--(" 2&-?" %("
-fA1D%(%(B"D"(23>-*"')"I'(I-A+&O" 8("D??%+%'(" +,-"3D+-*%D1" )*'3"D" 1D*B-"(23>-*"')" +D1C&"
?-1%E-*-?" >@" J*" ;D1D3G" )*'3" -&A-I%D11@" !\\TG" ,D&" >--(" 2&-?" -f+-(&%E-1@" %(" +,-" >''CO"
:(1@" %(" D" )-/" ID&-&" &A-I%)%I" +D1C&" '*" D??*-&&-&" ,DE-" >--(" b2'+-?O" _'*" I'(E-(%-(I-" ')"
)2*+,-*" *-D?%(B"D" )211" 1%&+"')"U-I,('1'B@"E%&%'("=K=K" *-A'*+"D*-"B%E-(" %(" +,%&" *-)-*-(I-O"
U,-" *-A'*+" )-D+2*%(B" D&" 5I'('3%I" 8(+-11%B-(I-" &-*E%I-G" I-(+-*" )'*" 3'(%+'*%(B" 8(?%D("
5I'('3%I",DE-">--("')"%33-(&-"ED12-"%("2(?-*&+D(?%(B"+,-"321+%c?%3-(&%'(D1"(D+2*-"')"
8(?%D(" -I'('3@" D(?" &'I%-+@O" _'*" +,'&-" %(+-*-&+-?" %(" B'%(B" %(+'"3'*-"J-+D%1G" %+"/%11" >-"
2&-)21" +'" *-)-*" +'" +,-&-" *-A'*+" ?-A-(?%(B" '(" +,-%*" 8(+-*-&+" /,-+,-*" %+" %&" %(" DB*%I21+2*-G"
-(-*B@G"%()*D&+*2I+2*-G"%(?2&+*@"'*"<'I%D1"'*")%(D(I%D1"&-I+'*O"W-"D*-"D1&'"1%&+%(B"D"(23>-*"
')"*-A'*+&G">''C"['2*(D1&"D(?"D*+%I1-&"/,%I,",DE-",-1A-?"2&"%("2(?-*&+D(?%(B"3D(@"%&&2-&"
+,'2B,"&A-I%D1"%(A2+&")*'3"3D(@"')"+,-3",DE-"('+">--("ID**%-?"%("+,%&">''C!
"(!4L)R4I!
%(!I@;!I"\%?!4;A9B="
#?ED(I-?"&-(&'*G"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
#B*'" )''?" A*'I-&&%(Bc3%1CG" I-*-D1&G" )*2%+&" D(?" E-B-+D>1-&G" U-I,('1'B@" E%&%'("
=K=KGU8_#H"
H,-3%ID1"A*'I-&&"8(?2&+*%-&"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
H%E%1"#E%D+%'(G"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
J*%E%(B")'*I-&c"%3A-?D(I-&G"U-I,('1'B@"E%&%'("=K=KGU8_#H"
51-I+*%I"A'/-*"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
51-I+*'(%I&"D(?"I'332(%ID+%'(G"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
5(B%(--*%(B"8(?2&+*%-&G"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
_''?"D(?"#B*%I21+2*-G"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
R-D1+,"ID*-G"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
F%)-"&I%-(I-"D(?">%'+-I,('1'B@G"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
0D+-*%D1&"D(?"A*'I-&&%(BG"U-I,('1'B@"E%&%'("=K=KG"U8_#H
=LL"
X'D?"U*D(&A'*+D+%'(G"U-I,('1'B@"E%&%'("=K=KGU8_#H"
<-*E%I-&G"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
<+*D+-B%I"8(?2&+*%-&G"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
U-1-I'332(%ID+%'(G"U-I,('1'B@"E%&%'("=K=KG"U8_#H"
WD+-*/D@G"U-I,('1'B@"E%&%'("=K=KG"U8_#H!
E(!R=@;B!4;A9B="
<+D+2&" ADA-*" '(" 8(?%D(" XD%1/D@G" &'3-" %&&2-&" D(?" 'A+%'(&G" B'E+" ')" 8(?%DG" 0%(%&+*@" ')"
XD%1/D@"MXD%1/D@"9'D*?NG"=L+,"3D@"!\\V"
53-*B%(B"U-I,('1'B%-&c#"&2*E-@"')"U-I,(%ID1"D(?"5I'('3%I":AA'*+2(%+%-&G"U-I,('1'B@"
#?3%(%&+*D+%'(G"2&"J-AD*+3-(+"')"I'33-*I-G"&A*%(B"!\\K"
<+-/D*?&" " " ')" +,-" _2+2*-^" U,-" -E'1E%(B" *'1-&" ')" DID?-3%DG" %(?2&+*@" D(?" B'E-*(3-(+G"
X-A'*+"')"+,-"4*-&%?-(+")'*"+,-"DID?-3%I"@-D*"!\\]c\LGRS45XF8.;"
0D&&" 0-?%D" D(?" 0D*C-+%(B" H'332(%ID+%'(^" 4-*&A-I+%E-&" %(+'" =K=KG" J*" .O" 9,D&CD*D"
XD'G"H-(+-*")'*"0-?%D"<+2?%-&G".-/"J-1,%"
_2+2*-"U-I,('1'B@" %(" [DAD("+'/D*?"+,-"@-D*"=K=K^U,-" )%)+,"+-I,('1'B@" )'*-ID&+"&2*E-@G"
U,-"8(&+%+2+-")'*"_2+2*-"U-I,('1'B@G"
=c]c!!"_2CDBD/D";',+',c"C2GG"U'C@'"!PQG"[DAD(G"!\\P"
4*')%1-&"')"&+D+-G"5I'('3%I"8(+-11%B-(I-"<-*E%I-G"H-(+-*")'*"0'(%+'*%(B"8(?%D("5I'('3@"
4E+O"F+?G"0D*I,"!\\L"
X2@" #O" U-%f-%*DG" FD/*-(I-"0%&,-1G" h/,'&-" &C%11&" &,'*+DB-c"/'*C-*&" '*"0D(DB-3-(+eY"
['>"&C%11&G"<233-*"!\\P"
8()*D&+*2I+2*-" %(" 8(?%Dc" #" 4*'B*-&&" X-A'*+G" 898" <A-I%D1" X-A'*+G" .'E-3>-*G" !\\LG" U,-"
5I'('3%&+"8(+-11%B-(I-"7(%+"F%3%+-?"!\\L"
.D+%'(D1"8(&+%+2+-"')"<I%-(I-"""D(?"U-I,('1'B@"4'1%I@G"<I%-(I-"D(?"U-I,('1'B@"#B-(I@G"
[DAD(G"U,-"<%f+,"U-I,('1'B@"_'*-ID&+"<2*E-@c"_2+2*-"U-I,('1'B@" %("[DAD("U'/D*?"+,-"
S-D*"=K=QG"[2(-"!\\L"
<+D+-" <I%-(I-" D(?" U-I,('1'B@" H'33%&&%'(G" +,-" " A-'A1-Y&" X-A2>1%I" ')" H,%(DG" U,-"
.D+%'(D1" 0-?%23" D(?" F'(BcU-*3" <I%-(I-" D(?" U-I,('1'B@" J-E-1'A3-(+" 4*'B*D33-"
M!\\Kc"=KKKc"=K=KNG"<+D+-"<I%-(I-"D(?"U-I,('1'B@"H'33%&&%'("
#("#++*DI+%E-"[DAD(G";-%?D(*-(Y&"$%&%'(")'*"=K=KG"<233D*@MX-E%&-?NG"[D(2D*@G"!\\L
=LV!
""(!E998>"
#,12/D1%DG"5&,-*"[2?B-"D(?"8O.OJO"F%++1-G"8(?%DY&"5I'('3%I"X-)'*3&"D(?"J-E-1'A3-(+c"
5&&D@")'*"0D(3',D("<%(B,O":f)'*?"7(%E-*&%+@""4*-&&G"J-1,%G"
!\\V"H-(+-*")'*"X-&-D*I,"%("X2*D1"D(?"8(?2&+*%D1"J-E-1'A3-(+G"H,D(?%BD*,G"8("<-D*I,"')"
8(?%DY&" X-(D%&&D(I-G" $'123-" !G" !\\VO" H1D*CG" .'*3D(G" _*D(I%&I'" 4-*-dc" U*-a'G" 4-+-*"
#11-(" D(?" 5?/D*?" 51BD*G" 5E'12+%'(D*@" J@(D3%I&" D(?" <2&+D%(D>1-" J-E-1'A3-(+c" #"
<@&+-3&"#AA*'DI,G"#1?-*&,'+"M7;N"D(?"9*''C)%-1?M7<#NO"
6-11c0D(G" 02**D@G" U,-" o2D*@" D(?" +,-" [DB2D*c#?E-(+2*-&" %(" +,-" <%3A1-" D(?" +,-"
H'3A1-fG"F%++1-"9*'/(""D(?"H'3AD(@O"
6'/D*%CD*G" $D&D(+G" <I%-(I-" G" 4'A21D+%'(" D(?" J-E-1'A3-(+" k" #(" 5fA1'*D+%'(" ')"
8(+-*I'((-I+%E%+%-&"D(?"#I+%'("4'&&%>%1%+%-&"%("8(?%DG"73D-&,"H'332(%ID+%'(&G"42(-O"
[D%(G" #&,'CG" <O4*2+,%G" ;OHO" 6D*B" D(?" <O#" .D>%G" 8(?%ID+'*&" ')" 8(?%D(" <I%-(I-" D(?"
U-I,('1'B@G"<-B3-(+"9''CG".-/"J-1,%O"
;D+,2*%DG" <D(aD@G" H'3A-+%(B" +,*'2B," U-I,('1'B@" D(?" 0D(DB-3-(+c" #" &+2?@" ')" +,-"
8(?%D("I'3(3-*%ID1"E-I,%I1-&"%(?2&+*@G":f)'*?"7(%E-*&%+@"4*-&&G"J-1,%G"!\\]O"
;*%&,(D"02*+,@G"0O$OG".O<O" <%??,D*+,D(" D(?"9O<O" <'(?-G" _2+2*-"J%*-I+%'(&" )'*" 8(?%D("
5I'('3@c"U-I,('1'B@"+*D?-"D(?"%(?2&+*@G".-/"#B-"8(+-*(D+%'(D1"F%3%+-?G"!\\]O"
FDd'(%ICG" W%11%D3G" 92&&%(-&&" :*D(BD%dD+%'(" D(?" +,-" 0@+," ')" +,-" 0D*C-+" 5I'('3@G"
HD3>*%?B-"7(%E-*&%+@"4*-&&G"!\\!O"
0@,DE'%?G".D+,D("D(?"4-+-*"X%(-D*&'(G"9%116D+-&c"U,-"X'D?"#,-D?G"$%C%(BO"
0@*?D1G"[D(G"8(?%D"WD%+&G"<D(BD3"9''C&G"0D?*D&O"
.'1D(G"X%I,D*?"FO"D(?"JDE%?"HO"H*'(&(D(G"H*-D+%E-"J-&+*2I+%'(c"#"<%fc"<+DB-"4*'I-&&"
)'*"U*D(&)'*3%(B"+,-":*D(%dD+%'(G""RD*ED*?"
92&%(-&&"<I,''1"4*-&&G"9'&+'(G"0D&&DI,2&-++&O"
.D+,G".OHO9O"D(?"FO"0%&,*DG"U*D(&)-*"')"U-I,('1'B@"%("8(?%D("#B*%I21+2*-c5fA-*%-(I-"')"
#B*%I21+2*-"7(%E-*&%+%-&G"8(?2&"42>1%&,%(B"H'3AD(@G".-/"J-1,%O"
XDaD*D3D(G"$OG"<')+/D*-"U-I,('1'B@c"H,D11-(B-&"D(?":AA'*+2(%+%-&G"
UD+D"0IB*D/"R%11G".-/"J-1,%O"
<*%3%ED&G"0O.OG"<'I%D1"H,D(B-"%("0'?-*(""8(?%DG"7(%E-*&%+@"')"
HD1%)'*(%D"4*-&&G"9-*C-1-@"D(?"""F'&"#(B-1-&G"!\]LO
=L\"
<2>,D*D@@DG" 9O$OG" 8(" +,-" 42*&2%+" ')" 5fI-11-(I-c#" R%&+'*@" ')" +,-" 8(?%D(" 8(&+%+2+-" ')"
<I%-(I-G"UD+D"0I6*D/"R%11G".-/"J-1,%O"
U,DC2*?D&G"<%*"42*&,'+D3G"[OXOJO"UD+DG"6OJO"9%*1DG"<%*"#*?-&,2*"JD1D1G"
<*%"<,*%"XD3G";D&+2*>,D%"FD1>,D%G"#OJO"<,*'))"D(?"[',("0D+,D%G"#"41D("
')"5I'('3%I"J-E-1'A3-(+")'*"8(?%DG"!\\TO"
U,@DBD*DaD(G" 6OG" #O$O" <*%(%ED&D(" D(?" #O#32?-&/D*%G" 8(?%D(" F-D+,-*" =K=Kc" #"
+-I,('1'B@G" %(?2&+*@" D(?" +*D?-" )'*-ID&+G" H-(+*D1" F-D+,-*" X-&-D*I," 8(&+%+2+-G" 0D?*D&G"
!\\TO!
"""!(!*RW4#%K3!%#$!%4I"?KL3"
#>*D,D3G" 8++@G" h<I%-(I-" D(?" <-I*-I@" %("0D*C%(B" ')" 4'&+" '1'(%D1" <+D+-YG"5I'('3%I" D(?"
4'1%+%ID1"W--C1@G"#2B2&+"!]c=PG"!\\LO"
92&%(-&&"U'?D@G"YU,-"9U"_'*-ID&+YG"_->*2D*@"Lc=TG"!\\VO"
H,D(?*D&-C,D*G" <OG" h8(('ED+%E-" 7&-" ')" J%B%+D1" U-I,('1'B@" )'*" .D+%'(D1" J-E-1'A3-(+G"
HD&-"')"8.<#UYG"5I'('3%I"D(?"4'1%+%ID1"W--C1@G"_->*2D*@"=VG"!\\VO"
H''3-&G"J*"ROHOG"Y<I%-(I-"D(?"U-I,('1'B@")'*"/,D+"A2*A'&-^"
o2-&+%'(%(B"+,-"_2+2*-YG"6*--("4DA-*".'OPOG"J-I-3>-*"!\VQO"
52*'A-D(" H'33%&&%'(G" 6*--(" 4DA-*" '(" 8(('ED+%'(G" 9211-+%(" ')" +,-" 52*'A-D(" 7(%'(G"
<2AA1-3-(+" Qn\QG" W%11%D3&G" [D3-&" IOG" U,-" X%&-" ')" &%1%I'(" $D11-@G" 8(E-(+%'(" D(?"
U-I,('1'B@G"&A*%(Bn&233-*"!\\KO"
52*'A-D("H'33%&&%'(G"h8(('ED+%'("D(?"U-I,('1'B@"U*D(&)-*G"+'/D*?"+,-"_DI+'*@"')"+,-"
_2+2*-YG"[D(2D*@"!\\VO"
6D(-&,G" &OG" hW,'" %&"D)*D%?"')" )'*-%B(" )%*3&e"H2**-(+" +*-(?&" %("_J8" %(" 8(?%DYG"5I'('3%I"
D(?"4'1%+%ID1"W--C1@G"3D@"P!G"!\\LO"
6D*(&-@G"51%dD>-+,G" h<I%-(I-c" >D&-?" -(+-*A*%&-^" +,*-D+" '*"'AA'*+2(%+@eYG" 4,@&%I&"W'*1?G"
[21@"!\\LO"
R-%-*1%G" 7*&G" h0@" ?*-D3^" FD*B-c&ID1-" ?%&&-3%(D+%'(" ')" 2&-)21" *2*D1" A*'?2I+&" D(?"
+-I,('1'B%-&YG".'E-3>-*"!\\]O"
h8(('ED+%E-"6-(%2&YG"8555"&A-I+*23G"J-I-3>-*"!\\!O"
;-1CD*G" E%aD@" FOG" J-E-(?*D" .O" H,D+2*E-?%" D(?" 0D?,D" ;O" JD*G" h8(?%DY&" 8()'*3D+%'("
5I'('3@^"X'1-"G"&%d-"D(?"<I'A-YG"5I'('3%I"D(?"4'1%+%ID1"W--C1@G"<-A+-3>-*"!TG"!\\!O
=VK"
;,'&,''G" UO.OG" h9%'c" *%I," H'2(+*%-&" 02&+" 9-I'3-" U-I," kX%I," +'" X-DA" 71+%3D+-"
RD*E-&+YG"#AA*'DI,-&"+'"H'3A-(&D+%'(G"E'1O!=G"('O"PG"!\\]O"
8()'*3%(B" +,-".D+%'(c"_-?-*D1" 8()'*3D+%'("J%&&-3%(D+%'(" %("D("51-I+*'(%I"#B-G"7(%+-?"
<+D+-"H'(B*-&&G"WD&,%(B+'(G"JOHOG":I+'>-*"!\\VO"
F-?-*3D(G" F-'(" 0OG" Y<I%-(I-^" U,-" -(?" ')" +,-" )*'(+%-*eY" .D+%'(D1" #ID?-3@" ')"
5(B%(--*%(BG"[D(2D*@"!\\!O"
0D("D(?"J-E-1'A3-(+G"0D*I,"!\\=O"
0D("D(?"J-E-1'A3-(+G"<-A+-3>-*"!\\]O"
0D("D(?"J-E-1'A3-(+G"<-A+-3>-*"!\\LO"
0',D(G"J%(-&,GY 5?2ID+%'("D(?"%+&"3D*C-+"ED12-YG"<-3%(D*"T]!G"[D(2D*@G"
!\\VO"
.DBD*DaG"XOG"h/,D+",D&",DAA-(-?"&%(I-"!\\!e"#&&-&&3-(+"')"8(?%DY&"
5I'('3%I"X-)'*3&YG"5I'('3%I"D(?"A'1%+%ID1"/--C1@G".'E-3>-*"VO"!\\LO"
X-E'12+%'("%("+,-"2&"%()'*3D+%'("8()*D&+*2I+2*-G".D+%'(D1"DID?-3@"')"
5(B%(--*%(B"G".D+%'(D1"DID?-3@"A*-&&G"WD&,%(B+'(G"JHG!\\QO"
.-'B%G"H,%*D(a%>"D(?">2??,D?->"B,'&,GY"h83ADI+"')"F%>-*D1%dD+%'("'("
4-*)'*3D(I-"')"8(?%D("8(?2&+*%-&G"#")%*3"F-E-1"&+2?@"hG"5I'('3%I"D(?"
4'1%+%ID1"W--C-1@G"_->*2D*@"=VG!\\VO"
X'@G"<23%+G"Y61'>D1%dD+%'("G"<+*2I+2*D1"I,D(B-"D(?"A'E-*+@^"<'3-"
I'(I-A+2D1"D(?"A'1%I@"%&&2-&YG"5I'('3%I"D(?"4'1%+%ID1"W--C-1@G"#2B2&+""!]c=PG"
!\\LO"
<I%-(+%)%I"#3-*%ID(G"h;-@"+-I,('1'B%-&")'*"+,-"=!&+"I-(+2*@hG"!QK+,"
#((%E-*&D*@"8&&2-G"<-A+-3>-*"!\\QO"
<I%-(+%)%I"#3-*%ID("h+-I,('1'B%ID1"I'3A-+%+%E-(-&&"+'/D*?&"=K=KYG"#A*%1"
!\\TO"
<%??,D*+,DG"$OG"h#"<@&+-3c4*Df%&"$%-/"')"+,-"4'1%+%ID1c5I'('3@"')"
5(E%*'(3-(+D1"X-B21D+%'("'*"%&"+,-*-"D(@"/D@"+'"A-*&2D?-"{+,-3|"+'"
F%&+-("+'"{2&|OY".-/"J-1,%O"
<%(BDA'*-"92&%(-&&GYU-I,('A*-(-2*&,%A^"U,-@Y*-"&,''+%(B")'*"+,-"&+D*&YG"
#A*%1"!\\VO"
<%(B,G"[D&/D(+"GYW,D+"I'(&+%+2+-&".D+%'(D1"<-I2*%+@"%("D"H,D(B%(B"W'*1?
=V!"
:*?-*e"8(?%DY&"<+*D+-B%I"U,'2B,+YG"H#<8":IID&%'(D1"4DA-*".23>-*"]G"
[2(-"!\\VO"
<%(B,G"XDI,(D"j"<D(?,@D"U-/D*%GYWU:Y&"%3A1%ID+%'(&"'("8(?%D("
#B*%I21+2*-YG"H88O"
<3D?aDG"H1D2?-G"h"<2*E%E%(B"61'>D1%dD+%'(G"0D(DB-3-(+"D(?"U-I,('1'B@YG"
0D(2)DI+2*-*&"J%B-&+G J-I-3>-*c[D(2D*@"!\\VO"
<2>*D3D(%D(G"<O;OG"h41D((%(B"<I%-(I-"D(?"U-I,('1'B@"")'*".D+%'(D1"
J-E-1'A3-(+^"U,-"8(?%D(""5fA-*%-(I-YG"U-I,('1'B@"_'*-ID&+%(B"D(?"<'I%D1"
H,D(B-"P!G"VLc!K!M!\VLNG51&-E%-*"<I%-(I-"42>1%&,%(B"H'OG"8(IO"
<2(?D*a%G";OG"h8(?%D""=K!Q^"#"&+*D+-B%I"A-*&A-I+%E-YG"H2**-(+"<I%-(I-G$'1O"]VG"
.'O"]G"=Q"0D*I,"!\\QO"
h5D&+"#&%D("5I'('3%I&YG"U,-"5I'('3%&+G"0D*I,"L+,G"\V"
h<-I'(?"+,'2B,+&"D>'2+"B1'>D1%dD+%'(YGU,-"5I'('3%&+G[2(-"=!G"!\\LO"
U805"<A-I%D1"8&&2-G"hU,-"(-/"DB-"')"?%&I'E-*@YG"[D(2D*@G"!\\VO"
hU*D(&)'*3%(B"8(?%DYG"U805"<A-I%D1"X-A'*+G"0D*I,"=QG"!\\]O"
7(%+-?"<+D+-&"6-(-*D1"#II'2(+%(B"":))%I-GY#&%D("#-*'(D2+%I&G"U-I,('1'B@"
#Ib2%&%+%'("J*%E-&"8(?2&+*@"J-E-1'A3-(+YG0D@"!\\TO"
W%11%D3 [D3-&"HOG"hU,-"X%&-"')"<%1%I'("$D11-@YG8(E-(+%'(""j"U-I,('1'B@G"
<A*%(Bn<233-*"!\\KO
=V=!
"6,;h"#8J<G"===c=T" I'*-"+-I,('1'B%-&"D(?"E%&%'(")'*G!!T"
#ZUG"==TcP0G"=\" D123%(%23"D11'@&G"\L"
#ID?-3%I"1D>&G"=VQcVLG"=\V" D123%(%23c1%+,%23"M#FcF%N"D11'@G"\L"
#I,D*@212G"<OFO.OG"\PG"\L" #3I,%&"M&A-I%D1%d-?"1'ID1"?'I+'*&NG!PV"
#?ED(I-?"H'3A'&%+-&"0%&&%'(G"\\" #3-*%ID("?%D3'(?G"!KV"
D-*'"A*'A21&%'(G"=!P" D(I%-(+"C('/1-?B-"ED12-"D??"+'G"!PT"
#-*'(D2+%I&"J-E-1'A3-(+"#B-(I@" #*B-(+%(DG"!!c!="
M#J#NG"P!G"!TP" #*+-3%&%D"&AAO"!PV"
#)*%IDG"V\" #+,D*ED"$-?DG"!PL"
#B(%"D(?"?%&D>1-?"I,%1?*-(G"VVc\\" #+'3%I"0%(-*D1&"J%E%&%'("M#0JN"\]"
#B(%"3%&&%1-G"!\\G=Q!G"=]]c]L" #2&+*D1%DG"!!G"V\"
DB*%I212+2*D1"D(?")''?"A*'I-&&%(BG" E%&%'("=K=KG"PKK"
#B*%I21+2*D1"A*'&A-*%+@G"E%&%'(")'*G VTcVQ" #2&+*%DG"!="
DB*'c)''?"A*'I-&&%(BG"E%&%'(")'*G"LPc" #2+'3D+-?"U-11-*"0DI,%(-&"M#U0N !]!G"!VT" V]"
I-*-D1&G"LTcL]G"V=" #2ED%@@D*G"=!L" I'*-"+-I,('1'B%-&G"V!cVP"
I*2I%D1"%&&2-&G"VT" 9D1D(I-"')"4D@3-(+&G"!"
)*2%+"D(?"E-B-+D>1-&G"LVcVKGVP" >D(C%(B"D(?"%(&2*D(I-"&-I+'*&G"!]!"
1'(Bc+-*3"DI+%'(G"L]G"L\cVK" >D&3D+%"*%I-G"!PT"
3-?%23c+-*3"DI+%'(G"L]cL\" >D2f%+-"'*-&G"\K"
3%1CG"L]cLVG"V!" 9-1B%23G"!!"
&,'*+c+-*3"DI+%'(G"LTcL\" 9-11"FD>&"
#CD&,"3%&&%1-G"!\\" >-*@11%23G"\Kc\!"
#1DB,GSO;G"Q]" 9,D>,D"R'3%G"f%%%G"==L"
D1CD1%-&G"!=Q" 9,D>,D"#+'3%I"X-&-D*I,"H-(+-*M9#XHNG"\KG"=PL"
D123%(%23G"\=G"\]c\VG"!!K" 9,D*D+"51-I+*'(%I&"F%3%+-?M95FGN"
ID+D*DI+G +*-D+3-(+"')"G"=PQcP]"=KP""""""""""""""""""""""""""""""I-3-(+G"!KP"
9,D*D+,%G"<2>*D,3D(@DG"VLG!PT" H-(+*D1"4'/-*"X-&-D*I,"8(&+%+2+-"
9,D+(DBD*G"J--ADCG"!!Pc!]" MH4X8NG"=T\"
9,D23%CG"UO;OG"!Kc!=G"!TG !]" H-(+*-")'*"#?ED(I-?"U-I,('1'B@"
9,'AD1"BD&"+*DB-?@G"!!\" MH#UNG"=PL"
>%B"D(?"3-?%23c&%d-"%(?2&+*%-&G" H-(+*-")'*"J-E-1'A3-(+"')""U-1-3D+%I&"MHcJ'UNG"TL"
>%B"F-DB2-"H'2(+*%-&G"!Kc!!" I-*D3%I"3D+-*%D1&G"!K!cK="
>%' k?-E%I-&G"!KV" I-*+%)%ID+%'("&-*E%I-&G"&+*D+-B%-&"D(?"
>%'?%E-*&%+@G" A*%'*%+%-&")'*")2+2*-G"!LVc\\"
1'ID1"C('/1-?B-"')G"!P]" H,D*DCDG"!PV"
(D+%'(D1"/-D1+,G"!=VcPP" H,D*DCD"<D3,%+DG"!PV
=VP"
+-I,('1'B@"3D+*%fG"!P=cPP" H,D2??,*%G".DBG""==L"
>%'3D+-*%D1&G"!KV" H,D2*D&%DG":3"4*DCD&,G""!PL"
>%'+-I,('1'B@G"]Lc]\" I,-3%ID1"%(?2&+*@G"
9%&/D&G"<OG"!=\cP!G!V]" I,-3%ID1"+-I,('1'B@"E%&%'(G"!=Lc"
9'CD*'"&+--1"A1D(+G"\!GP! 9'&-G"!QT" -I'('3%I"1%(CDB-&G"!=!c=="
9'21'B(-",D*>'2*G"=V" B*'/+,"%(?%ID+'*&G"!=]"
9*D(&'(G"X%I,D*?G"=V" %("8(?%DG"!==c=]"
9*Dd%1G"!!G !PP" &-I+'*"B*'/+,"AD++-*(G"!=Q"
9*2&&-1&G"P!" &+D+2&"')"?%))-*-(+"&-I+'*&"')G"!=T"
92??,DG"=]G"!Q]" H,-3%ID1&"G!!VcP!"
>2%1?%(B"3D+-*%D1&G"!K=cKT" DB*'I,-3%ID1&G"!=P"
)-*+%1%d-*&G"!=T""HcJ'UG"TL""""""""""""""""""""""""""""""""""""""""""%3ADI+"'(",23D("1%)-G"!!Vc=K"
H#J"&')+/D*-G"P!" %('*BD(%IG"!=P"
H#0"&')+/D*-G"P!" 3D*C-+"%("/'*1?G"!==c=P"
HX6:"&,--+"&+--1G"!Q!" A-*)'*3D(I-"I,-3%ID1&G !=Pc=Q"
HX.6:"&,--+"&+--1G"!Q!" A-&+%I%?-&G"!=T"
ID>1-"'A-*D+%'(&G"!]Q" A-+*'I,-3%ID1&G"!=PG!=Qc=]G!=\cP!"
ID1%>*D+%'("&-*E%I-&G"&+*D+-B%-&"D(?"
A*%'*%+%-&")'*")2+2*-G"!LVcL\" A,D*3DI-2+%ID1G"!=Pc=Q"
HD(D?DG"!!" A1D&+%I&"D(?G"!=Q"
HD(I-*"%(I%?%-(I-&G"%("8(?%DG"=P=cPP" +-f+%1-&G"!=P"
HD('1DG"%3A*'E-3-(+"%("+,*'2B," H,-(BDAADG"XDaG"QQ"
>%'+-I,('1'B@G"]V" H,%1-G"!="
IDA%+D1%&3G"=!Q" H,%(DG"!Kc!!G"V\G \PG"!!KG"!PPG"
ID*?%'ED&I21D*"?%&-D&-&"MH$JNG"==\c" !TPG"=!Qc!]G"=T\cQKH,%(DG"E%&%'("')G"PPcPQG"TQ"
HD*(-B%-G"#(?*-/G"=Vc=\" H,%(-&-"DI2A2(I+2*-"+-I,(%b2-&G"
HD&+1-*-DB,G"=VG!PT"
I%(-3DG"!]]" *D*-"-D*+,&G!!]"
H%+%I'*AG"=\" &+--1G!!P"
H1%(+'(G"=\" +-f+%1-"%(?2&+*@G"!Q="
H'1?"J-&-*+"41D(+&G"!PL" +%+D(%23G"!!Q"
H'1'3>%DG"!=" I'*'(D*@",-D*+"?%&-D&-"MHRJNG"==\"
H'332(%&3G"=!QGPK"
H'3ADbG"=\" I'&3-+%I&G"!=T"
I'3A'&%+-"3D+-*%D1&G"\Vc!K!" H'2(I%1"')"H'3A-+%+%E-(-&&G"T!"
H'3A'&%+-"4*'?2I+%'("H-(+*-" I*%+%ID1"+-I,('1'B%-&G"!V\c\="
MH:04X:HNG"\\c!KK" I*'A&G"%3A*'E-3-(+"%("+,*'2B,
=VT"
H'3A'&%+-"4*'?2I+&"J-E-1'A3-(+" >%'+-I,('1'B@G"]Lc]\"
MI-(+*-NG"\\" I*@'B-(%I"-(B%(-G")'*"6<F$G"=KL"
H'3A2+D+%'(D1"_12%?"J@(D3%I&"=!=c!P"
MH_JNG"=!TG=]L" I2>%I"d%*I'(%DG"!KV"
H'3A2+-*"#%?-?"J-&%B("MH#JN" H2&+'3-*"4*-3%&-&"5b2%A3-(+"
!TKG"!TPG"!TLcT\G"!Q!cQ=" MH45NG"=]Pc]T"
H'3A2+-*"#%?-?"0D(2)DI+2*%(B"
MH#0NG"!TKG"!TPG"!TLG"!T\G"!Q!c" J*"0O6OXO"0-?%ID1"7(%E-*&%+@G"
Q=G"=\Q" 0D?*D&G"=TK"
H'3A2+-*"D(?".23-*%ID11@" ?-)-(I-"D(?"?-)-(I-"&@&+-3G"&-1)c"
H'(+*'11-?"MH.HN"3DI,%(-"+''1&G" *-1%D(I-"%(G"Q"
!T]cTLG"!QK" J-)-(I-"0-+D112*B%ID1"X-&-D*I,"
H'()-?-*D+%'("')"8(?%D("8(?2&+*%-&G" FD>'*D+'*@"MJ0XFNG"\QG"!K\"
P!" J-)-(I-"
H'(B*DE-G"W%11%D3G"=L" J-E-1'A3-(+"FD>'*D+'*@"
H'A-(,DB-(G"=V" MJXJFNG"R@?-*>D?G"!G"\\"
H'AA-*G"\KG"\L" J-)-(I-"X-&-D*I,"D(?"
I'*-"I'3A-+-(I%-&G"TcQG"T\cQ!" J-E-1'A3-(+":*BD(%dD+%'("
,23D("*-&'2*I-G"QKcQ!" MJXJ:NG"VQG"\PG"!!!G"!\]c=!]G"
1D(?"*-&'2*I-G"Q!" =!\c=KG"==]c=LG"=P]G=]LG=L!G"
(D+2*D1"*-&'2*I-G"Q!" =VP"
I'*-"+-I,('1'B%-&")'*G" DI+%'("A1D(")'*"D*3@G"=KPcKT"
#B*'c)''?G"VKcVP" D?ED(I-?"&-(&'*&G"=KQc!!"
#123%(%23G"!!T" )2+2*-"')G"=KTcKQ"
H-*-D1&G"V=" ,@A-*"A1D(-&"')")2+2*-G"=!Pc!Q"
H,-3%ID1&"D(?"A-+*'I,-3%ID1&G" FH#G"=K=cKP"""".DE@"AD*+%I%AD+%'(G"=KP"
-(B%(--*%(B"%(?2&+*%-&G"!QK" 4*%+,E%"3%&&%1-"&@&+-3G"!\Vc=KK"
)*2%+"D(?"E-B-+D>1-&G"VP" +-I,('1'B@"IDAD>%1%+@"%(G"!\V"
3%1CG"V!" ?-)-(I-"&2AA1%-&G"%("8(?%DG"!\=c\P"
A-+*'1-23"D(?"(D+2*D1"BD&G"!=\c" J-1,A%""*-&A'(&-&G"Q=cQP"
P!" J-(3D*CG"!="
J-AD*+3-(+"')""#+'3%I""5(-*B@" -1-I+*%I%+@G""+*D(&3%&&%'("""D(?"
MJ#5NG"\Qc\]G!!!G!\]c\LG==]G" ?%&+*%>2+%'("""1'&&-&G"!KQcK]"
=Q=G=]LG=L!" 51-I+*'(%I"_2(?""U*D(&)-*""D+"""4'%(+"
J-AD*+3-(+""')"X2*D1""J-E-1'A3-(+" ')"""<D1-""M5_U4:<NG"?->%+"ID*?&"
MJXJNG==K" )'*G"!VT"
J-AD*+3-(+""')"<I%-(I-""D(?"""""""""""""""""""""""""""""""""-(D>1%(B"%()*D&+*2I+2*-G =T!c]L
=VQ"
U-I,('1'B@G!KKG=!\" -(-*B@G"
J-E-"""6'/?DG"ROJOG"QQ""""""""""""""""""""""""""""""""""""""""""""""""-))%I%-(I@G=QQ"
?-E-1'A-?""I'2(+*@G" *-(-/D>1-""+-I,('1'B%-&G"=QT"
?'3%(D+%'(""'E-*""'+,-*>" -(B%(--*%(B""%(?2&+*%-&G"E%&%'(""")'*G"
%(?%ID+'*&"')G"!c=" !T]cQK"
?-E-1'A-?"""(D+%'("""&+D+2&G==" -(+-*+D%(3-(+""3-?%DG!]]"
?-E-1'A3-(+G"A-'A1-""D(?G"=cT" -(+*-A*-(-2*&,%A""?-E-1'A3-(+G"!L="
J,D/D(G"<D+%&,G"==L" -(E%*'(3-(+D1""A*'>1-3&G!
4#+-6-+#7!W" %(+-*(D+%'(D1"""A*-&&2*-&""+'G"]Qc]L"
?%&D>1-?""I,%1?*-("""D(?""#B(%G"VVcV\" 5+,%'A%DG"!PP"
?%&D&+-*"""/D*(%(B"""&@&+-3G E#1" 52*'A-G"E%&%'("")'*G"PKcP!G"TQ"
?%&-D&-""A*-E-(+%'(G"=!V"
?*%(C%(B"/D+-*G""=!\" )-**%+-""3DB(-+%I"""3D+-*%D1""&,--+G"!Q!"
J*%&,+%"""-@-""1D&-*""-b2%A3-(+G""=P]" )-*+%1%d-*&G""!=Tc=]"
?*2B&"""D(?"""A,D*3DI-2+%ID1&G""!=Pc=Q" )%>*-c*-%()'*I-?"A1D&+%I&""M_X4NG\\c"
?*@1D(?"""*-B%'(&G""]Tc]Q"""""""""""""""""""""""""""""""""""""""""""""""!KK"
J2""4'(+G""=\" _%-1?""X-&D*I,""""FD>'*D+D*@GJXJ:G"
?2D1c 2&-"""+-I,('1'B@G"!\QG=L!" F-,G""!PL"
?@-&+2))""D(?""A%B3-(+&G"!=]" )%(D(I%D1""&-*E%I-&G"!]Kc]="
_%(1D(?G"!=G"PK"
5H6G==\cPK" _1-f%>1-""0D(2)DI+2*%(B"""<@&+-3"
5D&+3D(G""6-'*B-G""=V""""""""""""""""""""""""""""""""""""""""""""""""""M_0<NG"!T]cTLG"=\Q"
-I'('3%I""B*'/+,G""*D+-""')G""!" )1'*D""D(?"")D2(D""')" R%3D1D@DG""!P]c"
-I'('3%I""&-I2*%+@G"""!VVKcV\""""""""""""""""""""""""""""""""""""""PL"
-I'('3%I"""/D*)D*-G""=!" )%@""D&,G""2&-""')G""!KPcKT"
5?%&'(G""U,'3D&G""=V" _''?""D(?"""DB*%I21+2*-"""+-I,('1'B@"
-?2ID+%'(""""E%&%'("""=K=KG""PK!cK=""""""""""""""""""""""""""""""E%&%'(G"
-1D&+'3-*&G"!KL""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""DB*'c)''?""A*'I-&&%(BG""LPcV]"
-1-I+*'(%I"""""A'/-*""E%&%'(""=K=KG""PK!cK=""""""""""""""""""I,D11-(B-&""""+'""8(?%D(""""DB*%I21+2*-G"
-1-I+*%ID1"""""3DI,%(-"""%(?2&+*%-&G""E%&%'("""""""""""""""""""""]=c]Q"
)'*G""!Q!G!QP" I*%&%&"""D(?""")''?""&-I2*%+@G""Q\c]K"
-1-I+*%I%+@""%()*D&+*2I+2*-G""""""""""""""""""""""""""""""""""""""""""""-(E%*'(3-(+D1""A*'>1-3&""D(?G"
A1D(+"""1'D?""")DI+'*""M4F_NG"=QK"""""""""""""""""""""""""""""""""""%(+-*(D+%'(D1"""A*-&&2*-&G"]Qc]L"
&'2*I-&""""')G""=QPcQT" )''?""?-3D(?"""D(?""A-'A1-G""]=c]P"
+*D(3%&&%'("""D(?"""?%&+*%>2+%'(" )2+2*-""""(--?&"""D(?""IDAD>%1%+%-&G""]Kc"
&@&+-3G""=QKcQ=" ]!
=V]"
E%&%'("")'*G""=Q=cQP"""""""""""""""""""""""""""""""""""""""""""""""""A'&+c,D*E-&+""+-I,('1'B@G""LPc" A*'a-I+-?"""B*D%("
%3A'*+&G""]!" 6*'&&"""".D+%'(D1"""""4*'a-I+"""M6.4NG!"
&A-I%)%I"""D(?"""2*B-(+"""3-D&2*-&" 62%?-?""""0%&&%1-"""J-E-1'A3-(+"
(--?-?G"""LKcLP" 4*'B*D33-G""!\\G=]]"
+-I,('1'B%-&G"""]Lc]\" 62a*D1G""8O;OG""=!L"
)''?"""&-I2*%+@"""D(?"""""I*%&%&G"""%("""8(?%DG"
Q\c]KG]LG]\G!VLcVV" ,D)(%23G""!KL"
)''?B*D%("""%3A'*+""""A*'a-I+%'(&G""]!""""""""""""""""""""""""""""""",D)(%23"""""'f%?-G"""!KL"
_'*?G""""R-(*@G"""=Vc=\G\!""""""""""""""""""""""""""""""""""""""""""""""""RD3&DG""=KP"
)'*-%B(""""-fI,D(B-""*-&-*E-&G""!""""""""""""""""""""""""""""""""""""""",-D1+," ID*-G"
)'*-%B("""""&2A-*%'*%+@"""3@+,G""=L""""""""""""""""""""""""""""""""""""")'*""D11G""==Kc=!"
_*D(I-G""!!G=!G"PKG"\!G!PP"""""""""""""""""""""""""""""""""""""""""""""""&+-A&"")'*""+,-"""E%&%'(G""==Pc=L"
)211""3'21?"""ID&+%(B"""A*'I-&&G""\L" +-I,('1'B@""E%&%'(G""=PLcTK"
E%&%'(""")'*G""==!c=P"
6D%(%(B"".-/"""""6*'2(?^""""U-I,('1'B@! %(-.$%!!!1#,#*+!!KVKV7!WVL! 8VK!
D)#*)#$#(,!!'*)!!!&6()#:-@,!!I;$;)(7!fL" ,-*>D1""""?*2B&G""!PV"
6D11%23G""""\L" R-/1-++c4DICD*?G"""=\"
6D(?+,%G"0D,D+3DG""=cTG=!G=]G=T!" ,%B,""+-3A-*D+2*-""&2A-*I'(?2I+'*&"
6D(BDc9,DB%*D+,%cR''B,1@M69RN" MRU<HNG"""!K]"
*%E-*" &@&+-3G""=QL" R%3D1D@D("""3-?%ID1""A1D(+&G"!PLc"
6D+-&G""9%11G""=V" PV"
6-11c0D((G"""02**D@G"""!P\""""""""""""""""""""""""""""""""""""""""""""""R%(?D1I'G""\L"
6-(-*D1"""#B*--3-(+""'(""U*D?-"""D(?" ,23D(""""*-&'2*I-&"""?-E-1'A3-(+"
UD*%))&"""M6#UUNG"=QG]QG""!]\"""""""""""""""""""""""""""""""""""""""""""MRXJNG"
6-'&@(I,'*(%d-?"""<D+-11%+-""""FD2(I,""""""""""""""""""""""""""""""I,D11-(B-&""""D(?""A*%'*%+%-&G""!L!cLP"
$-,%I1-"""M6<F$NG""!\PG""=KLG=!=c" A*%ED+-""""DB-(I%-&"""D(?""".6:&Y"""*'1-"
!T"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""%(G"""!L="
I*@'B-(%I"""-(B%(-"")'*G""=KLG"=!=c" R2(BD*@G""!="
!P" ,@>*%?"""*%I-G""]\"
,@A-*A1D(-&"""A*'B*D33-G""=!P=c!T"
6-*3D(@G""!!G""=!G""PKG""!PPG"
=]Qc]]" 8DI'IDG""F--G""=V"
6%11-++-G"";%(B"G"=V" 890G""=\"
B1D&&""")%>*-c*-%()'*I-?"""A'1@3-*&" 860J4G""!K!"
M6X4NG""\V" 8<:""""!TKKKG""!TL"
61'>D1"8()'*3D+%'(" 8()*D&+*2I+2*-" 8U"3%&&%'(G""=]Kc]L"
M688NG""=TT" 8(?%D(""""+-I,('1'B@""D(?"")'*-%B(
=VL"
61'>D1%dD+%'(G""T""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""I1D%3D(+&G""=]Qc]L"
6'E-*(D(I-G""&@&+-3""')G! E1" *2*D1" I'((-I+%E%+@G"=]Tc]Q"
6'E-*(3-(+" D?3%(%&+*D+%'(G""""""""""""""""""""""""""""""""""""""""""""8(?%DG"
&+*D+-B%-&"D(?" A*%'*%+%-&""")'*""")2+2*-G"""""""""""""""""""""""""""""""DE-*DB-"""D((2D1""6J4"""B*'/+,G""!T"
!L\cV!" >-@'(?"""=K=KG"""=Pc=Q"
6*--I-G"!=" >2%1?%(B"D*'2(?"&+*-(B+,G""==c =P"
6*--("X-E'12+%'(G""]Tc]QG""!QQG"=\L" ID(I-*" %(?%I-&G""=P=cPP"
6*'&&"J'3-&+%I" 4*'?2I+""M6J4NG!G""""""""""""""""""""""""""""""""""I,D11-(B-&""""'("""DB*%I21+2*-""")'(+G"
\G=TQcT]" ]=c]Q"
H'*-"I'3A-+-(I%-&G""QG""TLcQV! ,((!!-.,*G""E%&%'(""=K=K"
H*%+%ID1"+-I,('1'B%-&" )'*G""!V\c\=""""""""""""""""""""""""""""""""""""""/'*1?""D(?G""=Kc=P"
?%&+*%>2+%'("""')""6J4""D(?""A-*! A+0#-!!C*0-37TT"
HDA%+D" 6J4G""!Qc!]" 8(?%D(""DB*%I21+2*-G I,D11-(B-""+'G"""]=c"
5I'('3@" )-D+2*-&G""\c!L""""""""""""""""""""""""""""""""""""""""""""""""""""]Q"
5(D>1%(B"%()*D&+*2I+2*-G""=T!c]L" 8(?%D(""XD*-""5D*+,&""F+?M8X5FNG""\]"
)''?""I*%&%&""D(?"")''?""&-I2*%+@""%(G" 8(?%D(""X-3'+-""<-(&%(B""<D+-11%+-G""=L"
Q\c]K" 8(?%D("""XD'?""""H'(B*-&&G""!KT"
)''?""?-3D(?""D(?""A-'A1-G"""]=c]P" 8(?%D("""<ADI-"""X-&-D*I,""":*BD(%&D+%'("
,23D(""""*-&'2*I-"""">D&-G""QKcQ!" M8<X:N!E###G""]TG""LKG""\KG""\QG"\\G"
8U""3%&&%'(G""=]Kc]L""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!\]c\LG==]G=]LG=L!"
8(I'3-""?%&+*%>2+%'("""AD++-*("""%(G" %(?%B-('2&""+-I,('1'B@G""=K"
!Q" 8(?%*D"""6D(?,%""HD(D1G""XDaD&+,D(G"""]T"
1%+-*DI@"""*D+-G"""!L" 8(?%*-&D(G"""4O$OG""PK!"
3D(2)DI+2*%(B"""%(G"""!T!cTP" 8(?'(-&%DG""!=G""!PP"
3D+-*%D1"""*-&'2*I-&G""V\c\=" %(?2&+*%D1""I,-3%ID1&G""!=T"
3%(-*D1""""*-&'2*I-&G""\Kc\!" %(?2&+*@G"B'E-*(3-(+""D(?""XjJ"
(D+%'(""&-I2*%+@""%&&2-G""TcQ"""""""""""""""""""""""""""""""""""""""""""""""""""%(&+%+2+%'(&G""=LQcLL"
(D+2*D1""*-&'2*I-"">D&-G" Q!" %()-I+%'(&"""?%&-D&-G""===G==V"
A-'A1-""D(?""?-E-1'A3-(+G"""=cT" %()'*3D+%'("""&-I+'*G""E%&%'(""')G""PK="
A'A21D+%'(""B*'/+,G""!PG!QG]=" %()'*3D+%'(""""+-I,('1'B@""M8UN""*'1-""%(G"
A*'a-I+-?""B*D%(""%3A'*+&G""]!"""""""""""""""""""""""""""""""""""""""""""""""&-*E%I-&""""&-I+'*G""!VTcV]"
&-1)"""*-1%D(I-G"Q" %()*D&+*2I+2*-G"
&-*E%I-&"""""&-I+'*G""!Q\cV]""""""""""""""""""""""""""""""""""""""""""""""""""""-1-I+*%I%+@"""&-I+'*G"=TVcQQ"
&,D*-""%("""9%B""F-DB2-G""!!c!Q"""""""""""""""""""""""""""""""""""""""""""""-(D>1%(B""G""=T!c]L"
&,D*-""%(""""/'*1?"""6J4G!!c!=""""""""""""""""""""""""""""""""""""""""""""""8U""3%&&%'(G"""=]Kc]L"
&'I%D1"""%(?%ID+'*&G""!Lc!V""""""""""""""""""""""""""""""""""""""""""""""""""""""%(E-&3-(+&""%(G"""=TQcTV"
&+*D+-B%I"""%(?2&+*%-&G" !VLc=!]"""""""""""""""""""""""""""""""""""""""""""""'I-D(&G=Q\
=VV"
&+*D+-B%I"""&+*-(B+,G""TcQ""""""""""""""""""""""""""""""""""""""""""""""""""""""""""/D+-*&G""=Q]c]K"
+-I,('1'B@"""D(?"""")'*-%B(""I1D%3D(+&G" %(1D(?""""/D+-*/D@&""""+*D(&A'*+""M8WUNG"
=]Qc]L""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""=QLcQV"
+-I,('1'B@""""E%&%'("""=K=KG""\G"!\" 8(&D+G"""=Q!"
E%&%'("""')G""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""8(&+%+2+-"")'*""_2+2*-"""U-I,('1'B@G"
DI+%'(&"")'*G"""=Pc=Q! *DAD(G""P]"
?-E-1'A-?""""8(?%DG"f%EG"PcTG"=!" %(&2*D(I-""&-*E%I-&G""!]!"
=P" 8(+-B*D+-?""62%?-?""""0%&&%1-"
)%*&+""E%&%'(G""=!c==G=T" J-E-1'A3-(+""""4*'B*D33-G""!\\"
)*--?'3""')""8(?%DG"""=!c==" 8(+-B*D+-?"""<-*E%I-&""J%B%+D1""".-+/'*C"
(--?&"""D(?""""I'*-""""I'3A-+-(I%-&" M8<J.NG""=]T"""""u"
T\cQ!" 8(+-11-I+2D1"""4*'A-*+@"""""X%B,+&M84XNG"
'2*"""DI+%'(""")'*G""=LPcLQ" ]]G!PTG!P]G==T"
*-D1%dD+%'("""')G""=]VcLP! A+$()+-$#*+-.!!!!O#,,#.(!!!Y-g--)7LLV"
*-&+D+-3-(+"""')G"=]\c LP" 8(+-*(D+%'(D1" 0'(-+D*@"""""_2(?G"""!V\"
&-I'(?"""E%&%'(G""=Tc=Q"
8(+-*(D+%'(D1"""<+D(?D*?"":*BD(%&D+%'("""""""""""""""""""""""""""""""""""1%+-*DI@""*D+-G""!L"
M8<:N"\KKK""&@&+-3&G"!K!G"!TL"""""""""""""""""""""""""""""""""""""""""""""""F'E-11G"9-*(D*?G""=L"
%(+*D'I21D*"""1-(&""M8:FNG""=PQcP]"""""""""""""""""""""""""""""""""""""""""""1'/c+-3A-*D+2*-""""&2A-*I'(?2I+'*&"
8*D(G""!=""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""MFU<HNG""!K]"
8&*D-1G""E%&%'(""')G""!=G"TTcTQ"
8+D1@G""!!" 0DB(-+%I""X-&'(D(I-"""83DB%(B"
M0X8NG""!K]"
[D332""D(?""";D&,3%*G""!PL" 0D,DAD+*DG""#a%+G""LP"
[D3&,-?A2*""&+--1"A1D(+G""\!" 0D1D@&%DG""!=G"!PPG"!LK"
[DAD(G"!!G"=!G"V\G""!!Kc!!G""!PPG"!TPG""""""""""""""""""""""""""""""""""""0D1D@&%D""E%&%'(""')G""P!cPP"
!Q\" 3D(DB-3-(+""I'(&21+D(I@G""&+*D+-B@"
+-I,('1'B@""">D1D(I-"""')G""PLcPV""""""""""""""""""""""""""""""""""""""""""""D(?"""A*%'*%+%-&"")'*"")2+2*-G""!L]cLL"
+-I,('1'B@""+*D?-""')G""P\cTK" 3D(BD(-&-""'*-&G""\K"
E%&%'(""')G"PKGP]cT=" 3D(2)DI+2*%(BG"
[DAD(-&-""<I%-(I-""D(?""U-I,('1'B@" -1-I+*%ID1""3DI,%(-""%(?2&+*@G"!Q!"
#B-(I@G"P]" !QP"
[-(IC&G""RD*1D(""WOG""!KK"""""""""""""""""""""""""""""""""""""""""""""""""""""""""-(B%(--*%(B""""%(?2&+*%-&G!T]cQK"
[',(&'(G""]K" )'*"")2+2*-G"!P\cQL"
8(""8(?%DG""!T!cTP"
;O6O""R'&A%+D1G""H'%3>D+'*-G"=PQ""""""""""""""""""""""""""""""""""""""""""""3'?-*("""")DI-""')G"!TKcT!"
;-%?D*(D(""M[DAD(""_-?-*D+%'(""')""""""""""""""""""""""""""""""""""""""""""""&3D11""D(?"+%(@""2(%+&G""!TQcT]
=V\"
5I'('3%I"""":*BD(%&D+%'(&NG""T="""""""""""""""""""""""""""""""""""""""""""""""""""&')+/D*-""+-I,('1'B@G!TPcTQ"
;-((-?@G"[',(""_OG"=\"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""+-f+%1-"""3DI,%(-*@G"!T\G!Q!cQ="
;('/1-?B-G&%(B1-c+*DIC""DAA*'DI,""+'G"""""""""""""""""""""""""""""""""""""""""3D*%(-"">%'"*-&'2*I-&G""!P]cPL"
!PT" 0D*C"8G""=KT"
;'*-DG""!=""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""0D*C""88G"=KT"
;'*-D(""WD*G""T="""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""3D*C-+"")'*I-&G"T"
3D*C-+""*-&-D*I,G""!]Q"
FO$O""4*D&D?""5@-""8(&+%+2+-G" 3D*C-+%(B"""I'332(%ID+%'(""&-*E%I-&G"
R@?-*D>D?G==!" !]=c]]"
FD?DC,G"!PL"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""A*'a-I+-?""E'123-""')"">2&%(-&&"%(G"
FD,D21G""!PL" !]Qc]]"
FDC&,@D""""A%1'+1-&&""+D*B-+"""""D%*I*D)+G"=KP"""""""""""""""""""""""""""""""""""""b2D1%+@""D(?"&+D(?D*?&"%(G"!]P"
1D&-*G" !T!" ED12-""&@&+-3"%(G""!]T"
1D&-*c-+I,-?"""3DB(-+%I"""""3D+-*%D1"""&,--+G""""""""""""""""""""""""""""""""""""3D*C-+%(B"""1'B%&+%I&G"!]]c]\"
!Q!" 3D*C-+%(B""&-*E%I-&G""!]Q"
1-D?G"\L""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""0D*+%(""0D*%-++DG"=\"
F-D*G""W%11%D3G""=V" 3D&&""3-?%DG""!]Q"
1-D+,-*"I,-3%ID1&G!=]""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""3D+-*%D1&G"
F-,G"!PL" D(?"")2+2*-G"VLc!!L"
1%I-(I-cA-*3%+cb2'+D""*DaG"=]\""""""""""""""""""""""""""""""""""""""""""""""""""""""""""%(E-&3-(+""*-b2%*-3-(+&G"""!K\c!="
F%B,+""H'3>D+"""#%*I*D)+""MFH#NG""!TP" (D+%'(D1""",-D1+,""D(?G""\=c!K\"
!\Lc\VG""=K=cKPG""=K]G"""=!Pc!TG" *-&'2*I-&""%(""8(?%DG""V\c\="
=L]cLLG"PKP" 2&-""%("""?D%1@""1%)-G"VLcVV"
1%b2%?""")'*B%(B"""+-I,('1'B@G""\V"
A-+-(I%-&G"
$%&%'("D(?"DI+%'(&G"!!=c!L" .D+%'(D1"+,-*3D1"A'/-*"
0D+-*(D1"D(?"I,%1?",-D1+,"M0HRNG" I'*A'*D+%'("M.U4HNG"=QKG"=QP"
=PVcP\" .DED1"8(+-B*D+-?"51-I+*'(%I"WD*)D*-"
3-?%DG"*'1-"%("DI,%-E%(B"E%&%'(G"=\=c" A*'B*D33-"M.85W4NG"=KP"
\PG=\\" .DED1"A,@&%ID1"D(?":I-D('B*DA,@"
3-?%I%(D1"A1D(+&G"!PLcPV" FD>'*D+'*@"M.4:FNG"=KP"
0-?%23"H'3>D+"#%*I*D)+G"=K=" (--3G!PT"
0-*ICG"=\" .-,*2G"[D/D,D*1D1G"f%%%G"=!Q"
0-+D1"3D+*%f"I'3A'&%+-&"M00H&NG" .-,*2E%D("E%&%'(G"P"
\Lc\V" .-+,-*1D(?&G"!!"
0-f%I'G"!KG"!PP" .-/"S'*CG"P!"
0%I*'&')+G"!T=" .'DC,D1%G"I'332(D1"*%'+&"%(G"PcT
=\K"
0%1CG@%-1?"A-*",-D?"')"ID++1-"A-*" .'3%(D1"B*'2A"+-I,(%b2-"M.6UN"
S-D*G"TP" *D(C%(B&G"QP"
0%&,*D"J,D+2".%BD3 M08JR#.8NG" ('(cI'332(%ID>1-"?%&-D&-G===G=P!"
\Q" ('(c?-&+*2I+%E-"+-&+%(B"')"'%1"A%A-&G"
0%&&%1-"U-I,('1'B@"H'(+*'1" !K]"
X-B%3-G"=K!G"=!P" ('(cB'E-33-(+D1"'*BD(%dD+%'(&"
0',D3-?G"0D,D+,%*G"P!cP=" M.6:&NG"*'1-"%("DI,%-E%(B"E%&%'("
3'('d%+-G"\!G"!KL" =K=KG"=V\c\KG"=\T"
3'*+D1%+@"*D+-&G"==V" ('(c%()-I+%'2&"?%&-D&-&G"==\cP!"
321+%3-?%DG"!!]" .'*/D@G"!="
321+%(D+%'(D1"I'3AD(%-&"M0.H&NG" .2>*D"ED11-@G"!PL"
=L]cL\" .2I1-D*"_2-1"H'3A1-f"M._HNG"\]"
D(?")'*-%B("-(+%+%-&G"=VTcVQG"=\V" (2I1-D*"3D+-*%D1&G"!KLcKV"
32&%IG"!]]" .2I1-D*"A'/-*"I'*A'*D+%'(G"!KL"
(2I1-D*"A*'B*D33-G"!\T"
.#<#G"=]QG"=]L" (2I1-D*"+-&+"M!\\VNG"=T"
.Jc_-c9"3DB(-+&G"\]"
.DB"3%&&%1-G"!\\" '%1"D(?".D+2*D1"6D&"H'33%&&%'("
.DA'1-'(G"=V" M:.6HNG"=]!"
.D+%'("&-I2*%+@G"DAA1%ID+%'("')" '*BD(%I"I,-3%ID1&G"=T"
(2I1-D*"+-I,('1'B@"+'G"=T! a)#9#+,!-+0!A+$()+-$#*+-.![:*+*6#:,"
.D+%'(D1"H*%+%ID1"U-I,('1'B%-&! *'!,<-:(![E<.*)-$#*+7!Kd"
4D(-1G"7<#G"!T=G"!\K" 4D%(+&"D(?"ED*(%&,-&G"!=Tc=Q"
.D+%'(D1"_-*+%1%d-*&"F+?"M._FNG"!KT" 4DC%&+D(G"!=G"=!Q"
.D+%'(D1"8()'*3D+%'(" 8()*D&+*2I+2*-" 4D(I,-(?*%@DG"=KP"
M.88NG"=TT" 4-BD(23",D*3D1DG"!PV"
.D+%'(D1"8(&+%+2+-"')"&I%-(I-"D(?" A-'A1-G"?-E1'A3-(+"""D(?G"=cT"
U-I,('1'B@"4'1%I@G"[DAD(G"P]" A-*"IDA%+D"%(I'3-G"!c=G"!Q"
(D+%'(D1"A*'B*D33-"%("D?ED(I-?" 4-**@G"W%11%D3G"=!Q"
&-(&'*&G"=KL" 4-*2G"!="
(D+%'(D1"&-I2*%+@G"TcQ" A-&+%I%?-&G"!=T"
4-+*'1-23"D(?"(D+2*D1"BD&G"I'*-" I'*-"+-I,('1'B%-&"D(?"E%&%'(")'*G"
U-I,('1'B%-&G"!=\" !!]"
4,DI'-321&%)%ID+%'("+-I,('1'B@G"=P]" X-%()'*I-?"41D&+%I&"H-(+*-"
4,%1%AA%(-&G"!=" MX54F#H5NG"\\"
4,'+'(%I"3D+-*%D1&G"!KTcKQ" X-&-D*I,"H-(+*-"83D*D+"MXH8NG"
4%-d'-1-I+*%I I-*D3%I&G"\]" !KK
=\!"
4%1'+1-&&"UD*B-+"#%*I*D)+"M4U#NG"=KP" *-&-*E-"-(+*@"+-I,(%b2-G"T="
4%+*'?DG"<D3G"=]=" *,-23D+%I",-D*+"?%&-D&-"MXRJNG"=P!"
4%++G"/%11%D3G"=L" X%B"$-?DG"!PL"
41D((%(B"H'33%&&%'(G"=LT" X'I,-)'*+G"=V"
4'1D(?G"!=" *'IC-+&G"2&-?">@"U%AA2G"=Lc=V"
4'1D*"<D+-11%+-"FD2(I,"$-,%I1-" X',%(%"&D+-11%+-G"=]Q"
M4<F$NG"=!PG"=Q!G"=]]" X'+2(?D"02&-23G"W''1/%I,G"=L"
4'1@3-*%I"3D+-*%D1&G"!K]cKL" X'2*C-1D"&+--1"A1D(+G"\!G"!!!"
4'1@3-*&G"!=Qc=]G"!P!" X2>-(&+-%(G"R-1-(DG"=V"
4'*+2BD1G"!=" X2&&%DG"V\G"\!G"!!Kc!!"
4'&+c,D*E-&+"+-I,('1'B%-&G"LPcV]" <F$cPG"VQG"\KG"\\"
4'+D+'G"%3A*'E-3-(+"%("+,*'2B," <U#XUc88G"=!Q"
9%'+-I,('1'B@G"]V" <DBD*?,/D(%G"=KP"
4'++-*G"/%11%D3"HOG"!KK" &D3D*%23G"!Q!"
4'E-*+@"A*'>1-3G"!QPcQT" &D(%+D+%'(G"=!Vc!\"
4*-&&G"!]Q" &D*D>,D%G"E%C*D3G"f%%G"==L"
4*%3D*@"D(?"&-I'(?D*@"-?2ID+%'(G" &D*ADBD(?,%G"!PQ"
!L!" <D2?%"#*D>%DG"!!c!="
4*%3D*@",-D1+,"ID*-"M4RHNG"=!VG" &I%-(I-"D(?"+-I,('1'B@G"%(E-&+3-(+ %(G"!L!cL="
4*%+,E%"8(-*+%D1".DE%BD+%'("<@&+-3G" &I*D3a-+"-(B%(-G=!P"
=K!" &-I2*%+@"&-*E%I-&G"&+*D+-B%-&"D(?"
4*%+,E%"3%&&%1-"&@&+-3G"!\Vc=K=G=Q!G" A*%'*%+%-&"")'*")2+2*-G!V!cVP"
=]]" &-1)c*-1%D(I-G"QG"=KG"==]"
I'&+c-))-I+%E-(-&&G"=KKcK!" <-(G"#3D*+@DG"!V"
?-E-1'A3-(+"D(?"A*'?2I+%'(G" &-(&'*&G"=L="
=K!cK=" %(?2&+*%D1"DAA1%ID+%'(G"=K\c!!"
-))-I+%E-(-&&"')G"=KK" (D+%'(D1"A*'B*D33-"%(G"=KL"
A*'1%)-*D+'*&G"=!Qc!]" &+*D+-B%ID11@"%3A'*+D(+"&-(&'*&G"
42>1%I"<-I+'*"7(%+& M4<7&NG"=L]cVK" =KV"
42*I,D&%(B"A'/-*"AD*%+@G"=G"!Q" <-*%(BDAD++D3G">D++1-&"')G"=L"
XjJ"1D>&G"=VQcVLG=\V" <-*AD&%1G"!PQ"
*D%()-?"DB*%I21+2*-G"]Tc]Q" &-*E%I-&"&-I+'*G"
XD3D((DG"*DaDG"\K" D&"A-'A1-Y&"/-D1+,G"!Q]cV]"
XD3*'IC-+"&@&+-3G"=!P" I'2(+*@Y&"&2*E%ED1"'(G"!QLcQV"
*D*-"-D*+,"3-+D1&G"\]" ?%&+*%>2+%'(G"!]]c]\"
)%(D(I%D1"&-*E%I-&G"!]Kc]="
B'E-*(3-(+"D?3%(%&+*D+%'(G"!L\cV!" <A%+%G"!PL
=\="
RXJ")'*G"!L!cLP" <*%"H,%+*D"U%*2(D1"0-?%ID1"H-(+*-"G"
8U"*'1-"%(G"!VTcV]" U,%*2ED(D(+,DA2*D3G"!LK"
8(?%D"D(?G"!Q\cV]" <*%"FD(CDG"!LK"
0D*C-+%(B"I'332(%ID+%'(" <*%"<D+,@D"<D%"8(&+%+2+-"')",%B,-*"
<-*E%I-&G"!]=c]]" 1-D*(%(BG"=VP"
_2+2*-"')"G"!]Qc]]" <*%(%ED&D(G";OG"=P="
o2D1%+@"D(?"&+D(?D*?&G"!]P" <*%&*%"0D,DCDE%G"T]"
$D12-"&@&+-3&"%(G"!]T" &+D+-c1-E-1"4<7&G"=LVcL\"
0D*C-+%(B"1'B%&+%I&G"!]]c]\" &+--1G"\!c\TG"!!Kc!!"
U-I,(%ID1"D(?""3D(DB-3-(+" I'*-"+-I,('1'B%-&"D(?")'*G"
H'(&21+D(I@"&-*E%I-&G"!LPcLL" !!P"
U-I,('1'B%-&" D(?" -3A1'@3-(+" &+--1#@+,'*%+@" ')" 8(?%D" FUJ" M&D%1NG" " !QVcQ\"
&+*D+-B%I"%(?2&+*%-&G"
+-&+%(BG"ID1%>*D+%'("D(?" ?-)-(I-"+-I,('1'B@"D(?"%(?2&+*@"
I-*+%)%ID+%'("&-*E%I-G!LVcL\" !\]"
+'2*%&3G"!]\cLK" )2+2*-"')G"=!]"
+*D?-"A*'3'+%'("&-*E%I-&G"!]\" B*D?2D+%'("+'"&@&+-3&"
+*D?%(BG"!]]c]\"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""-(B%(--*%(BG"!\Lc\V"
&-+,%G"4O;OG=P]" &+D(?cD1'(-"&2>c&@&+-3"
<,D*3DG"0O0OG"\Q""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""?-E-1'A3-(+G"!\]c\L"
<%B,+")'*"D11G"E%&%'(")'*G"=PTcPV" &+*D+-B%I"&-I+'*&"E%&%'(G"PK=cKP"
<%(BDA'*-G"=TT" &+*D+-B%I"&+*-(B+,G"TcQ"
<%(B,G">*D,3DG"!PL" <2>*D3D(%D(G"HOEOG"\KG=PL"
<%(B,G"*Da-(?*DG"=Q!" <2A-*"H'3A2+-*"#(2*DBG"P!G"=VP"
<%(,DG"<O;OGQ\" &2A-*I'(?2I+%(B"3D+-*%D1&G"!KQcK]"
<3D11"%(?2&+*%-&G"=V!cVP" &2*)DI-"DI+%E-"DB-(+&G"!=]"
<'DA&"D(?"?-+-*B-(+&G"!=Q" &2*)DI-"-(B%(--*%(BG"!KVcK\"
<'I%-+@")'*"9%'3-?%ID1"U-I,('1'B@" <2&*2+DG"!PV"
M<90UNG"=P]! M;,);$-!M-6%#$-7 !PV"
&')+/D*-G"+-I,('1'B@"E%&%'(")'*"G!TPc TQ" </D3%(D+,D(G"0O<OG"]K"
&'2+,"#)*%IDG"!KG"!=" </-?-(G"!!"
<'2+,"C'*-DG"E%&%'("')"G"P\GT=cTT" </%+d-*1D(?G"!!"
<'2+,c-D&+"#&%D("-I'('3%-&G"!KG!P"
<ADI-"A*'B*D33-G""f%%%G"!\Pc\T" UDB'*-G"XD>%(?*D(D+,G"!!V"
<ADI-"<I%-(I-"D(?"U-I,('1'B@" +D3D*%(?G"!PT"
H-(+*-"M<<UHNG"U*%ED(?*23G"\\" UD+DG"[D3&,@?".OG"\!"
<ADI-"+-I,('1'B@G"f%EG"]\cLK" UD+DG"8*'("D(?"<+--1"H'3AD(@
=\P"
<AD%(G"!!" MU8<H:NG"\!"
&A-I%D1%+@"I,-3%ID1&G"I'*-"+-I,('1'B@"
D(?"E%&%'("=K!K")'*G"!P=