Rel Est Econ Financ Encaminh Aud Publica - Bahia€¦ · contrato de concessÃo do serviÇo...
71
AGÊNCIA ESTADUAL DE REGULAÇÃO DE SERVIÇOS PÚBLICOS DE ENERGIA, TRANSPORTES E COMUNICAÇÃO DA BAHIA ESTUDOS ECONÔMICO-FINANCEIROS E REGULATÓRIOS RELATIVOS AO CONTRATO DE CONCESSÃO DO SERVIÇO PÚBLICO DE TRANSPORTE HIDROVIÁRIO DE NAVEGAÇÃO MARÍTIMA INTERIOR, DE PASSAGEIROS E VEÍCULOS, LIGANDO O MUNICÍPIO DE SALVADOR À ILHA DE ITAPARICA, FIRMADO ENTRE O ESTADO DA BAHIA E A TWB BAHIA S/A – TRANSPORTES MARÍTIMOS, COM A INTERVENIÊNCIA DA AGERBA FIPECAFI Fundação Instituto de Pesquisas Contábeis, Atuariais e Financeiras São Paulo, maio de 2012
Transcript of Rel Est Econ Financ Encaminh Aud Publica - Bahia€¦ · contrato de concessÃo do serviÇo...
!
!
AGÊNCIA ESTADUAL DE REGULAÇÃO DE SERVIÇOS PÚBLICOS DE ENERGIA, TRANSPORTES E COMUNICAÇÃO DA BAHIA
ESTUDOS ECONÔMICO-FINANCEIROS E REGULATÓRIOS RELATIVOS AO
CONTRATO DE CONCESSÃO DO SERVIÇO PÚBLICO DE TRANSPORTE
HIDROVIÁRIO DE NAVEGAÇÃO MARÍTIMA INTERIOR, DE PASSAGEIROS E
VEÍCULOS, LIGANDO O MUNICÍPIO DE SALVADOR À ILHA DE ITAPARICA,
FIRMADO ENTRE O ESTADO DA BAHIA E A TWB BAHIA S/A – TRANSPORTES
MARÍTIMOS, COM A INTERVENIÊNCIA DA AGERBA
"#$%&'()*!+#!#,&-+*,!#.*/01).*23)/%/.#)(*,!#!
(#.*1#/+%45#,!+#!#/.%1)/6%1#/&*
FIPECAFI Fundação Instituto de Pesquisas Contábeis, Atuariais e Financeiras
São Paulo, maio de 2012
! !
!
"!!
!
!
!
!
!
#$%&'#(!
!
)*%+,!*-.,/!'#*#&*-!
0*-+1&/1,!-+%-22&!+#2,!
0*#3#*&1,!3-!/&45#&*-!)-*),/-!
6#*-43,!7&4)#*2,!,4&5#&*-!
&*-+!/&$%#&*-!4&.-!
*&1-*3,!1#4,2,!
5#*+,+!8,64!
! !
!
9!!
!"#$%&'(
/:;<=>?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9!
2ABCDAE!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!F!
2ABCDAE!G-HCI?!&J!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!K!
! &HL=?M:NO?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!P!Q
! *CR>EO?!?=M>H<=>A!C!CS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!QQ!Y
Y@Q! *CR>EO?!?=M>H<=>A!M?!U?HL=AL?!MC!U?HUCEEO?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!QQ!
Y@Y! .C>?E!MC!EC!;AHLC=!?!U?HL=AL?!MC!U?HUCEEO?!C;!CS:>DTB=>?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!QQ!
Y@"! -D?UANO?!U?HL=AL:AD!M?E!=>EU?E!C!=CR>EO?!?=M>H<=>A!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!Q"!
Y@9! 1?HM>NZCE!C!X>HE!MA!=CR>EO?!?=M>H<=>A!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!Q[!
'DC>L?E!MA!2\) @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@QK"
"@Q! .AH>XCELANO?!>H>U>AD!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!QK!
"@Y! '?=S:C!HO?!:L>D>]A;?E!A!LAIA!>HLC=HA!MC!=CL?=H?!MA!^=?^?ELA!GQ_`9aJ!@@@@@@@@@@@@@@@@@@@@@@!Q_!
"@"! '?=S:C!HO?!EC!=CEL=>Hb>=!A?E!E:^?EL?E!MCECS:>DTB=>?E!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!Yc!
"@9! /?B=C!?E!E:^?EL?E!CRCHL?E!MCECS:>D>B=AM?=CE!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!YQ!
! *CR>EO?!?=M>H<=>A!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!Y9!9
9@Q! -E^CUL?E!bC=A>E!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!Y9!
9@Y! 3C;AHMA!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!YF!
9@Y@Q! -E^CUL?E!bC=A>E!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!YF!
9@Y@Y! 'C=X>D!MC!MC;AHMA!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!YF!
9@Y@"! '=?dCNO?!MC!MC;AHMA!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!"Q!
9@"! +TRCD!MC!EC=R>N?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!"9!
9@9! 1:EL?E!?^C=AU>?HA>E!C!MCE^CEAE!AM;>H>EL=AL>RAE!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!"F!
9@[! )AEC!MC!=C;:HC=ANO?!C!H?R?E!>HRCEL>;CHL?E!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!"_!
9@[@Q -E^CUL?E!bC=A>E @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@"_
9@[@Y! )AEC!MC!=C;:HC=ANO?!>H>U>AD!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9c!
9@[@"! #EL>;AL>RA!M?E!>HRCEL>;CHL?E!X:L:=?E!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9Y!
9@[@9! )AEC!MC!=C;:HC=ANO?!X>HAD!CEL>;AMA!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9Y!
9@[@[! )CHCXTU>?!X>EUAD!MA!MC^=CU>ANO?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9"!
9@F! 2AIA!MC!=C;:HC=ANO?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9"!
! *CE:DLAM?E!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9F
!
[!!
[@F! 3CECS:>DTB=>?!HA!MCXAEAbC;!M?!=CAd:ELC!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9P!
! +CUCEE>MAMC!MC!UA^>LAD!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@![Q!F
! #HUA;>HfA;CHL?!E:bC=>M?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@![9!K
K@Q! .AL=>]!MCU>Eg=>A!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@![9!
K@Y! $:AHL?!A?!HTRCD!MC!EC=R>N?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@![9!
K@"! $:AHL?!A?E!>HRCEL>;CHL?E!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@![9!
K@9! $:AHL?!h!UA^>LAD>]ANO?!MA!U?HUCEE>?H<=>A!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
!
F!!
)*+,-*.(
2ABCDA!-!W!.AL=>]!MC!=>EU?E!M?!U?HL=AL?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!Q"!2ABCDA!)!W!1<DU:D?!MA!?XC=LA!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!"[!2ABCDA!1!W!1:EL?E!C!MCE^CEAE!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!"K!2ABCDA!3!W!)AEC!MC!=C;:HC=ANO?!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9Y!2ABCDA!#!W!1.'1!W!1:EL?!;iM>?!^?HMC=AM?!MC!UA^>LAD!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9[!2ABCDA!0!j!3C;AHMA!C!*CUC>LAE!^A=A!?!AH?!Q!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9K!2ABCDA!7!W!0D:I?!MC!UA>IA!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9_!2ABCDA!6!W!2ABCDA!MC!LA=>XAE!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!9P!2ABCDA!&!W!+CUCEE>MAMC!MC!UA^>LAD!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
!
K!!
)*+,-*.(/01,2'(34(
-HCI?!&!W!2ABCDA!Q!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
!
_!!
-HCI?!&!W!2ABCDA!9P!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@!KQ!-HCI?!&!W!2ABCDA
!
P!!
315%'6"78'("
#ELC!=CDALg=>?!A^=CECHLA!?E!=CE:DLAM?E!MC!H?EE?E!CEL:M?E!CU?HV;>U?WX>HAHUC>=?E!C!=Cb:DALg=>?E!=CDAL>R?E!A?!U?HL=AL?!MC!U?HUCEEO?!M?!EC=R>N?!^lBD>U?!MC!L=AHE^?=LC!f>M=?R><=>?!MC!HARCbANO?!;A=TL>;A!>HLC=>?=`!MC!^AEEAbC>=?E!C!RCTU:D?E`!D>bAHM?!?!.:H>UT^>?!MC!/ADRAM?=!h!&DfA!MC!&LA^A=>UA!GU?HL=AL?!MC!U?HUCEEO?!?:!1?HL=AL?!MC!1?HUCEEO?!Hm!cFecFJ`!X>=;AM?!CHL=C!?!#ELAM?!MA!)Af>A!G#ELAM?J! C! A! 2\)! )Af>A! /e-! j! 2=AHE^?=LCE! .A=TL>;?E! G2\)! ?:! U?HUCEE>?H<=>AJ`! U?;! A!>HLC=RCH>nHU>A!MA!-bnHU>A!#ELAM:AD!MC!*Cb:DANO?!M?E!/C=R>N?E!'lBD>U?E!MC!#HC=b>A`!2=AHE^?=LC!C!1?;:H>UANZCE!M?!#ELAM?!MA!)Af>A!G-7#*)-!?:!-bnHU>AJ@!#DC!i!?!=CE:DLAM?!X>HAD!MC!L=ABADf?!S:C!X?>!=CAD>]AM?!H?E!lDL>;?E!;CECE`!U?;!R>ELAE!A!E:BE>M>A=`!^=>HU>^AD;CHLC`!A!=CR>EO?!?=M>H<=>A!MAE!U?HM>NZCE!MA!U?HUCEEO?@!!
,!U?HL=AL?!MC!U?HUCEEO?!^=CR>:`!C;!E:A!1D<:E:DA!,>LARAQ`!A!=CR>EO?!?=M>H<=>A!MAE!U?HM>NZCE!MA!U?HUCEEO?`!A!EC=!=CAD>]AMA!A!UAMA!U>HU?!AH?E@!2AD!^=?UCM>;CHL?`!S:C!LA;Bi;!AHAD>EA!?!=CAD!C!CXCL>R?!U:;^=>;CHL?!MAE!UD<:E:DAE!U?HL=AL:A>E!^A=A!A!MCX>H>NO?!MAE!U?HM>NZCE!M?!^=gI>;?!U>UD?!LA=>X<=>?`! ! i! bC=>M?! ^CDA! -7#*)-! C! U?HLA! U?;! ^A=L>U>^ANO?`! ADi;! MA! U?HUCEE>?H<=>A`! MA!E?U>CMAMC!U>R>D!?=bAH>]AMA`!M?!U>MAMO?!C!M?!:E:<=>?@!
-EE>;`!C;!XCRC=C>=?!MC!YcQQ`!^?=!>HLC=;iM>?!MC!E:A!*CE?D:NO?!Hm!"eYcQQ`!A!-7#*)-!>H>U>?:!?!^=>;C>=?!^=?UCM>;CHL?!MC!=CR>EO?!?=M>H<=>A!M?!U?HL=AL?!MC!U?HUCEEO?@!#EEC!^=?UCM>;CHL?!X?>!M>R>M>M?!C;!L=nE!XAECE(!>HELA:=ANO?`!>HEL=:NO?!C!MCD>BC=ANO?@!
1?;! A! >HELA:=ANO?`! A! U?HUCEE>?H<=>A! 2\)! A^=CECHL?:! E:AE! U?HE>MC=ANZCE! >H>U>A>E! G'DC>L?! MC!=CR>EO?J`! U?HX?=;C!^=CR>EL?!HA! =CXC=>MA! =CE?D:NO?o!CHLO?`!A!-7#*)-!MCU>M>:! E?D>U>LA=!?!H?EE?!A^?>?! HA! >HEL=:NO?! M?! ^=?UCEE?`! U:d?E! =CE:DLAM?E! EO?! Ab?=A! A^=CECHLAM?E`! ?E! S:A>E`! RADC!=CEEADLA=`!X?=A;!^=C^A=AM?E!A^gE!>HLC=ANO?!U?;!A!-bnHU>A!C!A!/CU=CLA=>A!MC!&HX=ACEL=:L:=A!M?!#ELAM?! MA! )Af>A! G/#&+0*-J`! CE^CU>AD;CHLC! H?! S:C! EC! =CXC=C! hE! MCX>H>NZCE! S:C! MCRC=>A;! EC=!AM?LAMAE!S:AHL?!A?!HTRCD!MC!EC=R>N?!A!EC=!^=CR>EL?!^A=A!?!^=gI>;?!U>UD?!LA=>X<=>?@!*CEEADLAWEC`!U?HL:M?`!S:C!H?E!X?>!AEECb:=AMA!A:L?H?;>A!LiUH>UA!^A=A!MCX>H>NO?!MC!AE^CUL?E!>HC=CHLCE!A?E!CEL:M?E!CU?HV;>U?WX>HAHUC>=?E!S:C!MCU?==C;!MA!X?=;ANO?!MC!?^>H>O?!M?E!U?HE:DL?=CE@!6?:RC!>HLC=ANZCE! LA;Bi;! U?;! A! U?HUCEE>?H<=>A`! EC;^=C! U?;! A! >HLC=;CM>ANO?! ?:! ^=CECHNA! MC!EC=R>M?=CE!MA!-7#*)-@!
p! >;^?=LAHLC! >HM>UA=! S:C! A! U?HUCEE>?H<=>A! LCRC! AUCEE?! C! EC! ;AH>XCEL?:! ^?=! CEU=>L?! E?B=C!H?EE?E! =CDALg=>?E! AHLC=>?=CE`! AEE>;! U?;?! S:C! =CE^?HMC;?E`! LA;Bi;! X?=;AD;CHLC`! hE!
^C=b:HLAE!C!S:CEL>?HA;CHL?E!A^=CECHLAM?E@!!
-Di;!M>EE?`!H?E!=C:H>;?E!j!EC;^=C!HA!^=CECHNA!MC!EC=R>M?=CE!MA!-7#*)-!Ce?:!MA!/#&+0*-!j!U?;! A! U?HUCEE>?H<=>A`! LAHL?! ^A=A! U?;:H>UA=! ?E! ^=?UCM>;CHL?E! S:C! CEL<RA;?E! A! E:bC=>=`!S:AHL?!^A=A!CEUDA=CUC=!MlR>MAE!?:!?BLC=!U?HL=>B:>NZCE!MA!U?HUCEE>?H<=>A!S:AHL?!A?E!CEL:M?E!
^=C^A=AM?E!^CDA!0&'#1-0&`!^=iR>?E!A!CELC!=CDALg=>?!X>HAD@!!
#ELA;?E! U>CHLCE! GC! =CU?;CHMA;?E! X?=LC;CHLCJ! S:C! CELC! =CDALg=>?! EC=<! A^=CECHLAM?! C;!A:M>nHU>A!^lBD>UA@!#;B?=A!LCHfA;?E!C;^=CCHM>M?!CEX?=N?E!^A=A! L?=H<WD?!UDA=?!^A=A!?!;A>?=!Hl;C=?!MC!^CEE?AE`!MCR>M?!h!U?;^DCI>MAMC!M?!LC;A`!LC;?E!U>nHU>A!MAE!D>;>LANZCE!AEE?U>AMAE!A! E:A! U?;^=CCHEO?! ^?=! :;! ^lBD>U?! LO?! A;^D?! C! RA=>AM?@! '?=! CEEA! =A]O?`! CHR>MA=C;?E! ?E!CEX?=N?E! A! H?EE?! ADUAHUC! ^A=A! CEUDA=CUC=! ?! U?HLClM?! MCEECE! CEL:M?E! S:AHM?! C! EC! X?=;?E!
>HMAbAM?E!E?B=C!CDCE`!^=>HU>^AD;CHLC!C;!A:M>nHU>A!^lBD>UA@!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Q!q_@Q!/(0'$'(12('&"3(3%#4()#"5"6-$'('(#%6-37"("#$-&4#-'($'3(0"&$-89%3($'(0"&0%337"@!G@@@Jr@!
!
Qc!!
3:=AHLC!A!=CAD>]ANO?!M?E!CEL:M?E!U?HL=ALAM?E`!X?>!^?EETRCD!^C=UCBC=!S:C!?E!EC=R>N?E!^=CELAM?E!^CDA! U?HUCEE>?H<=>A! CEL>RC=A;! AS:i;! M?! =CS:C=>M?! GLAHL?! C;! LC=;?E! MC! U:;^=>;CHL?! M?!U?HL=AL?`! S:AHL?! W! ^=>HU>^AD;CHLC! W! MC! ALCHM>;CHL?! MA! MC;AHMAJ! C! S:C! >HRCEL>;CHL?E!HCUCEE<=>?E!GADb:HE!MCDCE!^AUL:AM?E CI^=CEEA;CHLCJ!HO?!X?=A;!=CAD>]AM?E@
2AD! U?HLCIL?! =CX?=N?:! A! HCUCEE>MAMC! MC! S:C`! ^A=A! ?! ^=gI>;?! U>UD?! LA=>X<=>?`! ?BdCL?! M?!^=?UCM>;CHL?!MC! =CR>EO?! ?=M>H<=>A! CICU:LAM?!^CDA!-7#*)-`! ?E! >HRCEL>;CHL?E! HCUCEE<=>?E! GC!^AUL:AM?EJ! ECdA;! BC;! bC=>M?E@! 2A;Bi;! E:bC=>;?E! S:C! :;! H?R?! ^AM=O?! MC! EC=R>N?E! ECdA!>;^DC;CHLAM?`!U?;^ALTRCD!U?;!AE!^=?dCNZCE!MC!MC;AHMA!^A=A!?E!^=gI>;?E!^C=T?M?E!C!U?;!AE!=CUC>LAE!CE^C=AMAE`!AEECb:=AMA!A!U?==CE^?HMCHLC!=C;:HC=ANO?!h!U?HUCEE>?H<=>A@!!
,!=CDALg=>?!CEL<!?=bAH>]AM?!C;!ECLC!UA^TL:D?E`!>HUD:>HM?!CELA!>HL=?M:NO?@!,!ECb:HM?!UA^TL:D?!i!MCEL>HAM? A! X:HMA;CHLA=! ?E CEL:M?E! MC! A^?>?! h! CELA! =CR>EO? ?=M>H<=>A h! D:]! M?! U?HL=AL?! MC!U?HUCEEO?`! MCD>;>LAHM?! E:A! X>HAD>MAMC@!+?! LC=UC>=?`! EO?! AHAD>EAMAE! AE! U?HL=>B:>NZCE! CHR>AMAE!^CDA!2\)@!,!S:A=L?!i!MCM>UAM?!A?E!U?;^?HCHLCE!HCUCEE<=>?E!h!MCLC=;>HANO?!MAE!H?RAE!LA=>XAE!A! EC=C;! ^=AL>UAMAE`! S:A>E! ECdA;`! A! ^=?dCNO?! MC! MC;AHMA`! ?! HTRCD! MC! EC=R>N?`! ?E! U:EL?E!?^C=AU>?HA>E`! A! BAEC! MC! =C;:HC=ANO?! C! A! LAIA! MC! =C;:HC=ANO?@! ,! S:>HL?! A^=CECHLA! ?E!=CE:DLAM?E!MA!A^D>UANO?!M?!;?MCD?!MC!XD:I?!MC!UA>IA!MCEU?HLAM?!C;^=CbAM?!HA!MCLC=;>HANO?!MAE!H?RAE!LA=>XAE@!,!ECIL?!L=ALA!MA!HCUCEE>MAMC!MC!A^?=LC!MC!UA^>LAD!^CDA!U?HUCEE>?H<=>A@! !+?!EiL>;?!C!lDL>;?`!>HM>UA;?E!?E!CHUA;>HfA;CHL?E!E:bC=>M?E@!
!
QQ!!
9,:&.8'('%6&1$%&*(,(,;"&-<+%&'(,='1>#&='?@&1*1=,&%'(#
ABC 9,:&.8'('%6&1$%&*(6'(='15%*5'(6,(='1=,..8'(
1?HL=AL?E!MC!U?HUCEEO?!EO?!>HEL=:;CHL?E!MC!D?Hb?!^=A]?!CHL=C!A! >H>U>AL>RA!^=>RAMA!C!?!^?MC=!^lBD>U?`!^CD?E!S:A>E!A!U?HUCEE>?H<=>A!RCHUCM?=A!MA!D>U>LANO?!X>UA!=CE^?HE<RCD!^CDA!^=CELANO?!MC!MCLC=;>HAM?!EC=R>N?!^lBD>U?!M:=AHLC!R<=>?E!AH?E!C`!C;!U?HL=A^A=L>MA`!A:XC=C!AE!=CUC>LAE!S:C!DfC! ^C=;>LA;! ?BLC=! =C;:HC=ANO?! U?;^ALTRCD! U?;! ?E! >HRCEL>;CHL?E`! ?E! U:EL?E`! ?E! =>EU?E! M?!^=?dCL?@!
#EECE!U?HL=AL?E`!CHL=CLAHL?`!A^=CECHLA;!MCEAX>?E!^A=A!E:A!CEL=:L:=ANO?!C!bCELO?@!#HL=C!CDCE`!CELO? G>J!AE! >HUC=LC]AE!S:C!HAL:=AD;CHLC!MCU?==C;!MAE!=CDANZCE!MC! D?Hb?!^=A]?!GRA=>ANZCE!MC!U:EL?E`!MC;AHMA`! >HRCEL>;CHL?E`!CLU@J!C!G>>J!A!HCUCEE>MAMC!MC!S:C!fAdA!XDCI>B>D>MAMC!M:=AHLC!A!bCELO?!M?!U?HL=AL?`!^C=;>L>HM?!E:A!AMA^LAB>D>MAMC!hE!H?RAE!U>=U:HELsHU>AE!C;!S:C!?E!EC=R>N?E!EC=O?!^=CELAM?E@!
-!=CR>EO?!?=M>H<=>A!i!:;!^=?UCM>;CHL?!^=CR>EL?!C;!DC>!C!^AUL:AM?!H?!>LC;!_@Q!M?!U?HL=AL?!MC!U?HUCEEO?`! U:d?! ?BdCL>R?! i! ^C=;>L>=! A! AL:AD>]ANO?! MAE! U?HM>NZCE! MA! U?HUCEEO?`! CHR?DRCHM?!MC;AHMA`!HTRCD!MC!EC=R>N?`!=C;:HC=ANO?`!CHL=C!?:L=?E@!!
#;!U?HL=AL?E!MC! D?Hb?!^=A]?!C;!S:C!?! >HEL>L:L?!MA!=CR>EO?!?=M>H<=>A!HO?!X?>!U?HLC;^DAM?`!A!U?HUCEE>?H<=>A`! RCHUCM?=A! MA! D>U>LANO?`! >HU?=^?=A! C;! E:A! ^=?^?ELA! CU?HV;>UA! M>RC=EAE!>HUC=LC]AE`!>HUD:E>RC!E?B=C!MC;AHMA`!U:EL?E`!=CUC>LAE!C!>HRCEL>;CHL?E@!'A=A!AEE:;>=!LA>E!=>EU?E`!A! U?HUCEE>?H<=>A! U?HE>MC=A! UC=L?! ^=n;>?! ^CD?E! =>EU?E! AD?UAM?E! A! CDA@! -! X?=;ANO?! >H>U>AD! M?E!^=CN?E! A?! LC;^?! MA! D>U>LANO?! C! MA! UCDCB=ANO?! M?! U?HL=AL?`! CHL=C! ^?MC=! U?HUCMCHLC! C!U?HUCEE>?H<=>A`!^?=LAHL?`!MCRC!U?HE>MC=A=!AE!=CXC=>MAE!>HUC=LC]AE@!
+?! UAE?! M?! 1?HL=AL?! MC! 1?HUCEEO?! cFecF`! A! =CR>EO?! ?=M>H<=>A`! ?:! ECdA`! ^C=>gM>UA`! EC!CHUA==CbA=<!M?!U?;^A=L>DfA;CHL?!M?E!=>EU?E!=CDAU>?HAM?E!hE!RA=>ANZCE!H?!LC;^?!M?E!U:EL?E`!MCE^CEAE`!>HRCEL>;CHL?E!C!MC;AHMA`!^C=;>L>HM?!S:C!AE!LA=>XAE!>H>U>A>E!HO?!^=CU>EC;!=CXDCL>=!AE!>HUC=LC]AE!S:C!^=A]?E!;A>?=CE!>;^?=>A;!A!CELCE!RCL?=CE!M?!HCbgU>?@!+A!;CM>MA!C;!S:C!CEECE!CDC;CHL?E! EO?! =CR>EL?E! ^C=>?M>UA;CHLC`! MC! U>HU?! C;! U>HU?! AH?E`! M>]WEC! S:C! f<! ?!U?;^A=L>DfA;CHL?! MCEECE! =>EU?E`! ^=>HU>^AD;CHLC! EC! X?=! U?HE>MC=AM?! S:C`! EC! HO?! f?:RCEEC! A!=CR>EO?`!CEECE!=>EU?E!UABC=>A;!^=>HU>^AD;CHLC!h!U?HUCEE>?H<=>A`!AUCHL:AHM?WEC!U?;!?!MCU?==C=!M?!LC;^?@!!
$:AHM?!^=CR>ELA!A!=CR>EO?!?=M>H<=>A!?:!^C=>gM>UA`!CELA!>HLCb=A!?!U?Hd:HL?!MC!=Cb=AE!=CDAL>RAE!A?!CS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?!M?!U?HL=AL?!MC!U?HUCEEO?@!!
ABA D,&'.(6,(.,(#*15,%('(='15%*5'(6,(='1=,..8'(,#(,;"&-<+%&'(
,! U?HL=AL?! MC! U?HUCEEO?! CELABCDCUC:! L=nE! ;CUAH>E;?E! S:C! Ln;! A! X:HNO?! MC! ;AHLnWD?! C;!CS:>DTB=>?`!S:A>E!ECdA;(!!
• *CAd:ELC!MAE!LA=>XAE!G1D<:E:DA!/iL>;AJo!!
• *CR>EO?!?=M>H<=>A!G1D<:E:DA!,>LARAJo!C!
• *CR>EO?!CIL=A?=M>H<=>A!G1D<:E:DA!,>LARAJ@!!
,! #%'*:3+%( $'3( +'#-;'3! i! :;! >HEL=:;CHL?! S:C! LC;! A! X:HNO?! MC! ^C=;>L>=! S:C! A! LA=>XA! ECdA!AL:AD>]AMA!C;!X:HNO?!MAE!^C=MAE!UA:EAMAE!^CDA!>HXDANO?@!1?;?!?!=CAd:ELC!^=?M:]!CXC>L?E!^A=A!?! ^C=T?M?! E:BECS:CHLC! A?! =CE^CUL>R?! ^C=T?M?! BAEC`! i! U?==CL?! M>]C=! S:C! EC! L=ALA! MC! :;!
!
QY!!
;CUAH>E;?! MC! 0"5)'#+-<='5%&+"( $"3( #-30"3( $%( -&;<'87"@! 3CEMC! ?! =CAd:ELC! AHLC=>?=! ALi! ?!;?;CHL?!M?!AL:AD!=CAd:ELC`!?!=>EU?!MC!>HXDANO?!i!MA!U?HUCEE>?H<=>Ao!^?=!;C>?!M?!=CAd:ELC`!CEEC!=>EU?!i!U?;^A=L>DfAM?!U?;!?E!:E:<=>?E@!!
-!#%6-37"("#$-&4#-'`!LAD!U?;?!?!=CAd:ELC`!+'5>?5(?(:5(5%0'&-35"($%(0"5)'#+-<='5%&+"($"3(#-30"3`!HA!;CM>MA!C;!S:C!EC:E!CXC>L?E!EO?!^=?dCLAM?E!^A=A!?! X:L:=?@!2?M?E!?E!CDC;CHL?E!MC!U:EL?`!MC;AHMA!C!>HRCEL>;CHL?E`!EC;^=C!?DfAHM?!^A=A!?!X:L:=?`!EO?!^=?dCLAM?E!C!AL:AD>]AM?E!A!;iM>?! ^=A]?`! MC! AU?=M?! U?;! A! ^C=>?M>U>MAMC! ^=CR>ELA! H?! U?HL=AL?@! '?=! >EE?`! L=ALAWEC! MC!U?;^A=L>DfA;CHL?@!+A! =CR>EO?! ^C=>gM>UA! HO?! EC! ARAD>A;!?E! =CE:DLAM?E! M?! ^C=T?M?! AHLC=>?=! C!HO?! EC! ^=CLCHMC! A^CHAE! S:C! ?E! CRCHL:A>E! MCECS:>DTB=>?E! d<! CXCL>RAM?E! HCEEC! ^C=T?M?! ECdA;!U?;^CHEAM?E@!,! X?U?!MA! =CR>EO?!?=M>H<=>A!i!?!?DfA=!^A=A!?! X:L:=?!MA!^=CELANO?!M?E! EC=R>N?E!?BdCL?!MA!U?HUCEEO?@!
1?HL:M?`!EC!?E!>HRCEL>;CHL?E!=CAD>]AM?E!X?=C;!;A>?=CE!S:C!?E!>H>U>AD;CHLC!CE^C=AM?E`!MCEMC!S:C!ECdA;!E>M?!L>M?E!U?;?!^=:MCHLCE`!MCRC=O?!EC=!U?HE>MC=AM?E!C!=C;:HC=AM?E!^?=!;C>?!MC!LA=>XAE@!!
,!;CE;?!?U?==C!U?;!?E!U:EL?E!?^C=AU>?HA>E@!/C!?E!U:EL?E!?^C=AU>?HA>E!X:L:=?E!GCX>U>CHLCEJ!EO?!CEL>;AM?E!U?;?!;A>?=CE!?:!;CH?=CE`!AE!LA=>XAE!MCRC=O?!U?HE>MC=<WD?E@!!
+?! ;CE;?! ECHL>M?`! A! MC;AHMA! CEL>;AMA! H?! >HTU>?! M?! U>UD?! U?HL=AL:AD! AHLC=>?=! GH?! UAE?!U?HU=CL?`!HA D>U>LANO?J!HO?!^?MC!>HLC=XC=>=!HA!MCLC=;>HANO?!MAE!LA=>XAE!M?!ECb:HM?!U>UD?`!>EL?!i`MA! LA=>XA! A! EC=! ^=AL>UAMA! A^gE! A! ^=>;C>=A! =CR>EO?! LA=>X<=>A`! S:C! MCRC! ^A:LA=WEC! ^?=! H?RAE!^=C;>EEAE!MC!MC;AHMA!C!MAE U?HM>NZCE!CXCL>RAE!MC!EC:!ALCHM>;CHL?@!-E!;CDf?=CE!>HX?=;ANZCE!M>E^?HTRC>E`!HAL:=AD;CHLC!?BL>MAE!H?!^C=T?M?!AHLC=>?=`!U?HL:M?`!MCRC;!EC=!C;^=CbAMAE!^A=A!A!^=?dCNO?!MA!MC;AHMA!CE^C=AMA!^A=A!?!^=gI>;?!U>UD?!C!EC=C;!:L>D>]AMAE!U?;?!BAEC!^A=A!A!H?RA!LA=>XA@!
'?=! X>;`! i! HCUCEE<=>?! ARAD>A=! LA;Bi;! AE! U?HM>NZCE! MC! =C;:HC=ANO?! AMCS:AMA! M?! UA^>LAD!C;^=CbAM?`! S:C! EC=<! AM?LAMA! U?;?! LAIA! MC! MCEU?HL?! H?! ^C=T?M?@! -! LAIA! MC! =C;:HC=ANO?!AMCS:AMA!A?!UA^>LAD! C;^=CbAM?!MCRC! =CXDCL>=! AE! U?HM>NZCE!MC! X>HAHU>A;CHL?!C! =C;:HC=ANO?!M?!UA^>LAD!^=?dCLAMAE!^A=A!?!^C=T?M?!C;!AH<D>EC`!HO?!EC!R>HU:DAHM?!!"#$%&$%!C!HCUCEEA=>A;CHLC!h!LAIA!>HLC=HA!MC!=CL?=H?!CIL=ATMA!M?!XD:I?!MC!UA>IA!MA!^=?^?ELA@!p!C==VHC?!>;Ab>HA=!S:C!A!LAIA!>HLC=HA!MC!=CL?=H?!MA!^=?^?ELA!^?EEA!U?==CE^?HMC=!A!:;A!LAIA!MC!=CL?=H?!M?E!>HRCEL>;CHL?E!^A=A!L?M?!?!U?HL=AL?@!2AD!^=C;>EEA!i!>HU?;^ALTRCD!U?;!?!=Cb>;C!MC!=CR>EO?!^C=>gM>UA!MA!LA=>XA!;<I>;A`!^?>E!>;^?=>A!VH:E!?:!BVH:E!h!U?HUCEE>?H<=>A`!:;A!RC]!S:C!?!U:EL?!MC!?^?=L:H>MAMC!M?!UA^>LAD!RA=>A!H?!LC;^?@!-!UAMA!U>UD?!LA=>X<=>?` A!LAIA!MC!=CL?=H?!CE^C=AMA!MCRC!EC=!ARAD>AMA!^A=A!bA=AHL>=!S:C!A!U?HUCEE>?H<=>A!?BLCHfA!d:ELA!=C;:HC=ANO?!M?E!>HRCEL>;CHL?E!C!?E!:E:<=>?E!^Ab:C;!LA=>XAE!;gM>UAE@!!
#;!ETHLCEC`!A!MCLC=;>HANO?!MAE!LA=>XAE!M?!^=gI>;?!U>UD?!MCRC!U?HE>MC=A=!A!MC;AHMA!CE^C=AMA`!?E! >HRCEL>;CHL?E! d<! C! ^?=! EC=C;! =CAD>]AM?E`! ?E! U:EL?E! ?^C=AU>?HA>E`! AE! ADLC=ANZCE! CE^C=AMAE!H?E!HTRC>E!MC!EC=R>N?E!S:C!?E!MCLC=;>HA;`!?!U:EL?!MC!UA^>LAD!U?==CHLC`!CHL=C!?:L=?E@!
'?=!L?M?E!CEECE!;?L>R?E`!A!=CR>EO?!?=M>H<=>A!MAE!U?HM>NZCE!MA!U?HUCEEO?!HO?!EC!U?HX:HMC!U?;!?! =CCS:>DTB=>? j UfA;AM?! MC! #%6-37"( %@+#'"#$-&4#-' H?! U?HL=AL?! MC! U?HUCEEO?! j`! S:C! R>EA!=CR?DRC=!:;!MCECS:>DTB=>?`!H?=;AD;CHLC!>HLCHE?!C!CE^CUTX>U?!C!S:C!CHR?DRC`!bC=AD;CHLC`!=>EU?E!^lBD>U?E`! M?E! S:A>E! A! U?HUCEE>?H<=>A! CEL<! U?HL=AL:AD;CHLC! ^=?LCb>MA@! 1?HECS:CHLC;CHLC`!S:AHM?!EC!^=?UCEEA!:;!^DC>L?!MC!=CCS:>DTB=>?`!?E!=CE:DLAM?E!MCRC;!EC=!^=?dCLAM?E`!EC;^=C!S:C!^?EETRCD`!;A=b>HAD!C!=CL=?AL>RA;CHLC`!E?B!^CHA!MC!HO?!EC!HC:L=AD>]A=C;!?E!CXC>L?E!M?!CRCHL?!UA:EAM?=! MC! MCECS:>DTB=>?@! -! =CR>EO?! CIL=A?=M>H<=>A`! C;! LCEC`! i! :;! ^=?UCM>;CHL?! ;A>E!CI^CM>L?`!tU>=l=b>U?t`!S:C!HCUCEE>LA!C!^?MC!EC=!=CE?DR>M?!U?;!;A>E!=A^>MC]`!^?>E`!C;!=Cb=A`!HO?!
!
Q"!!
AMCHL=A! A! L?MAE! AE! M>;CHEZCE! S:C! EC! =CS:C=! HA! =CR>EO?! ?=M>H<=>A! MA! U?HUCEEO?`!;AE! E>;! A!U?;^CHEANO?!CE^CUTX>UA!M?!XAL?!S:C!DfC!MC:!UA:EA@!!
ABE (0-'=*78'(='15%*5"*-(6'.(%&.='.(,(%,:&.8'('%6&1$%&*(
-! AD?UANO?! M?E! =>EU?E! C;! ^=?dCL?E! MC! >HX=ACEL=:L:=A`! ^?=!;C>?! M?E! U?HL=AL?E! MC! U?HUCEEO?`!RC;! EC!A^=>;?=AHM?!HA!CI^C=>nHU>A!B=AE>DC>=A! =CUCHLC@!3CECHf?E! U?HL=AL:A>E!;A>E! ECb:=?E!C!U?;^DCL?E! Ln;! E>M?! MCECHR?DR>M?E@! -?! >HRCEL>M?=! MC! B?A! Xi`! >HLC=CEEA! EABC=`! CHL=C! ?:L=AE!S:CELZCE`!ALi!S:C!^?HL?!?!MCECHf?!M?!U?HL=AL?!i!UDA=?!C!U?C=CHLC!H?!S:C!M>]!=CE^C>L?!A?!LC;A!M?E!=>EU?E@!!
/C!A!AD?UANO?!M?E!=>EU?E!HO?!CEL<!BC;!MCX>H>MA!H?!U?HL=AL?!MC!U?HUCEEO?`!?!^?MC=!U?HUCMCHLC!C!A!>H>U>AL>RA!^=>RAMA!GC;!CE^CU>AD`!A!C;^=CEA!RCHUCM?=A!MA!D>U>LANO?J!CHX=CHLA=O?!^=?BDC;AE(!?!^?MC=!U?HUCMCHLC`!HA!bCELO?!MA!D>U>LANO?!C!M?!U?HL=AL?o!d<!A!>H>U>AL>RA!^=>RAMA!LC=<!M>X>U:DMAMCE!^A=A! ^=C^A=A=! ^=?^?ELAE! CU?HV;>UAE! =CAD>ELAE! C`! LAD! U?;?! ?! ^?MC=! U?HUCMCHLC`! LC=<!M>X>U:DMAMCE!^A=A!bC=>=!?!U?HL=AL?Y@!!
+AE! U?HUCEEZCE! MC! EC=R>N?E! ^lBD>U?E`! ECb:HM?! ?! A=L>b?! Ym! MA! 4C>! 0CMC=AD! Hm! _@P_KeQPP[`! A!U?HUCEE>?H<=>A!^=CELA!?E!EC=R>N?E!U?HUCM>M?E!^?=!E:A!U?HLA!C!=>EU?@!#EEA!i!A!=Cb=A!bC=AD@!,!>MCAD!i! S:C`! M:=AHLC! A! ;?MCDAbC;! MC! :;A! U?HUCEEO?`! ?! ^?MC=! ^lBD>U?! U?HE>MC=C! ?E! =>EU?E! M?!^=?dCL?! C! ?E! AD?S:C! h! ^A=LC! S:C! LC;! U?HM>NZCE! MC! bC=>WD?E! ?:! ;>L>b<WD?E! MC! ;?M?! ;A>E!CX>U>CHLC@!#EEA!^?EL:=A`!C;!LCEC`!XA]!U?;!S:C!?!EC=R>N?!ECdA!^=CELAM?!MC!;?M?!;A>E!CX>U>CHLC`!U?HM>NO?! CEECHU>AD! ^A=A! S:C! AE! LA=>XAE! ECdA;! ;gM>UAE@! /C! CEEA! AH<D>EC! HO?! i! =CAD>]AMA!AMCS:AMA;CHLC`! ?! q^=n;>?! MC! =>EU?r! MC;AHMAM?! ^CDA! >H>U>AL>RA! ^=>RAMA! ^A=A! AEE:;>=! A!^=CELANO?!M?E!EC=R>N?E!^?MC!U?;^=?;CLC=!A!R>AB>D>MAMC!M?!^=?dCL?@!!
+CEEC!U?HLCIL?`!CE^C=AWEC!S:C!?E!U?HL=AL?E!MC!U?HUCEEO?!A^=CECHLC;`!^CD?!;CH?E(!!
&@ *?D! '(')#*%+%,!-%.&" M?E! =>EU?E! AD?UAM?E! A?! ^A=UC>=?! ^=>RAM?`! ^?>E! ?E! =>EU?E! HO?!CI^=CEEA;CHLC!AD?UAM?E!A?!^?MC=!U?HUCMCHLC!EO?!MA!U?HUCEE>?H<=>Ao!!
&&@ *?D!-!(!-%.&"M?E!=>EU?E!AD?UAM?E!A?!^?MC=!^lBD>U?"!GCELCE!EO?!?E!lH>U?E!S:C!^?MC=>A;!MCECHUAMCA=!^DC>L?E!MC!=CCS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?Jo!!
&&&@ #I^=CEEA! ;CHNO?! MC! S:C! ?E! CRCHL?E! MCU?==CHLCE! MC! =>EU?E! AD?UAM?E! A?! ^A=UC>=?!^=>RAM?!HO?!^?MC;! EC=! U?HE>MC=AM?E! XAL?=CE! bC=AM?=CE!MC! =CCS:>DTB=>?! CU?HV;>U?WX>HAHUC>=?9o!!
&5@ &HM>UANO?!MC!S:C!A!RC=>X>UANO?!MC!CXCL>RA!?U?==nHU>A!MC!CRCHL?E!AEE?U>AM?E!A! =>EU?E!>;^:LAM?E!A?!^?MC=!^lBD>U?!bC=A;!M>=C>L?!A!=CCS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?@!!
#;!H?EE?!UAE?!CE^CUTX>U?`!^?MCWEC!AX>=;A=!S:C!?E!=>EU?E!X?=A;!AD?UAM?E!hE!^A=LCE`!;CE;?!S:C!HO?!fAdA!:;A!;AL=>]!MC!=>EU?E! X?=;AD;CHLC!CELA;^AMA!MC! X?=;A!E>ELC;<L>UA!H?!U?HL=AL?!MC!U?HUCEEO?@!,!=?D!-!(!-%.&"M?E!=>EU?E!AD?UAM?E!A?!^?MC=!^lBD>U?`!^?=!CIC;^D?`!CEL<!^=CECHLC!H?E!E:B>LCHE! M?! >LC;! _@Q@`! =A]O?! ^CDA! S:AD! A! LABCDA! A! ECb:>=! U?HLi;! A! ;AL=>]! MC! =>EU?E! S:C!>MCHL>X>UA;?E`!S:C!^?MC=>A!EC=!:L>D>]AMA!C;!UAE?!MC!^CM>M?E!MC!=CCS:>DTB=>?@!!
A'>%<'(/(B(C'+#-D($%(#-30"3($"(0"&+#'+"(
C'+#-D($%(#-30"3($"(0"&+#'+"($%(0"&0%337"(&E(1FG1F(
H-30"(!<4:3:<'(0"&+#'+:'<(
/<"0'87"(
Y!,E!=CUCHLCE!AU?HLCU>;CHL?E!CHR?DRCHM?!A!D>U>LANO?!M?!2=C;!MC!-DLA!5CD?U>MAMC!CHL=C!1A;^>HAE!C!*>?!MC!kAHC>=?!EO?!CIC;^D?E!MC!S:C!A!AD?UANO?!M?E!=>EU?E!M?!^=?dCL?!H?!U?HL=AL?!MC!U?HUCEEO?!^?MC;!AXAELA=!^?LCHU>A>E!>HLC=CEEAM?E!HA!D>U>LANO?@!!!"/O?! AS:CDCE! =>EU?E! S:C! ^?MC;! EC=! bC=>M?E! MC! ;?M?! ;A>E! CX>U>CHLC! ^CD?! ^?MC= ^lBD>U?! GADb:HE`! C;! LCEC`! ALi! ^?MC=>A;! EC=!
AD?UAM?E!h!>H>U>AL>RA!^=>RAMA`!;AE!?E!^=n;>?E!MC;AHMAM?E!^?MC=>A;!>HR>AB>D>]A=!A!^=g^=>A!U?HUCEEO?`!S:C=!ECdA!M?!^?HL?!MC!R>ELA!^?DTL>U?!?:!CU?HV;>U?WX>HAHUC>=?J@!!!9!3?!U?HL=<=>?`!EC=>A!CERA]>AMA!A!=Cb=A!MC!S:C!A!U?HUCEE>?H<=>A!AEE:;C!=>EU?E@!!!
!
Q9!!
C'+#-D($%(#-30"3($"(0"&+#'+"($%(0"&0%337"(&E(1FG1F(
H-30"(!<4:3:<'(0"&+#'+:'<(
/<"0'87"(
+?RAE!b=AL:>MAMCE!C!>ECHNZCE!9@Y@Q!!U?;B>HAM?!!U?;!F@K!
'?MC=!^lBD>U?!
-DLC=ANO?!M?E!EC=R>N?E!Ce?:!>HRCEL>;CHL?E!^=CR>EL?E!HA!^=?^?ELA! [@"! '?MC=!^lBD>U?!
-DLC=ANO?!MC!CEL=:L:=A!LA=>X<=>A!^A=A!>;^DAHLANO?!MC!;:MAHNAE!LCUH?Dgb>UAE!S:C!RCHfA;!A!EC=!>;^DAHLAMAE!^CDA!1?HUCEE>?H<=>A!
F@Q@Y! '?MC=!'lBD>U?!
.?M>X>UANO?! :H>DALC=AD! MAE! U?HM>NZCE! M?! U?HL=AL?! ^CD?! '?MC=! 1?HUCMCHLC`!MCEMC!S:C!MCDA!MCU?==A!M>=CLA;CHLC!:;A!E>bH>X>UAL>RA!ADLC=ANO?!M?E!U:EL?E!?:!MA!=CUC>LA!MA!1?HUCEE>?H<=>A`!^A=A!;A>E!?:!^A=A!;CH?E!
_@Q@Q! '?MC=!^lBD>U?!
,U?==nHU>A! MC! UAE?E! E:^C=RCH>CHLCE`! MCU?==CHLCE! MC! X?=NA! ;A>?=`! UAE?!X?=L:>L?`! XAL?! M?! ^=THU>^C! ?:! MC! CRCHL?E! >;^=CR>ETRC>E! S:C! =CE:DLC;`!U?;^=?RAMA;CHLC`!C;!A:;CHL?!MC!U:EL?E!^A=A!A!1?HUCEE>?H<=>A!
_@Q@Y! '?MC=!^lBD>U?!
,U?==nHU>A! MC! CRCHL?E! CIUC^U>?HA>E`! CHECdAM?=CE! MC! E>bH>X>UAL>RAE!;?M>X>UANZCE! H?E! ;C=UAM?E! X>HAHUC>=?! ?:! UA;B>AD`! S:C! >;^D>S:C;!ADLC=ANZCE! E:BELAHU>A>E`! ^A=A! ;A>E! ?:! ^A=A! ;CH?E`! H?E! U:EL?E! MA!1?HUCEE>?H<=>A!
_@Q@"! '?MC=!^lBD>U?!
-DLC=ANZCE! DCbA>E! MC! UA=<LC=! CE^CUTX>U?`! >HUD:E>RC! MCU?==CHLC! M?E! CHUA=b?E!L=>B:L<=>?E! C! E?U>A>E! >HU>MCHLCE! E?B=C! ?! EC=R>N?! U?HUCM>M?`! S:C! LCHfA;!>;^AUL?! E>bH>X>UAL>R?! M>=CL?! E?B=C! AE! =CUC>LAE! MC! EC=R>N?E! MA! CE^iU>C! ?:!E?B=C! U:EL?E`! ^A=A! ;A>E! ?:! ^A=A! ;CH?E`! =CDAU>?HAM?E! U?;! ?E! EC=R>N?E! C!AL>R>MAMCE!MCU?==CHLCE!MA!U?HUCEEO?!
_@Q@9! '?MC=!^lBD>U?!
-DLC=ANZCE!HA!DCb>EDANO?!A;B>CHLAD!R>bCHLC`!S:C!=CE:DLC;!HA!HCUCEE>MAMC!MC!H?R?E!>HRCEL>;CHL?E!Ce?:!bAEL?E!AM>U>?HA>E!
_@Q@[! '?MC=!^lBD>U?!
I:'<J:%#! %6%&+"! GE>Hb:DA=`! ^?=LAHL?J! S:C! >;^?=LC! C;! MCECS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?!M?!U?HL=AL?`!UA:EAHM?!RA=>ANO?!E:^C=>?=!A![a!GU>HU?!^?=!UCHL?J!$"(0:3+"(+"+'<!^A=A!;A>E!?:!^A=A!;CH?E!
_@Q@F! '?MC=!^lBD>U?!
-L=AE?E! HAE! MCEA^=?^=>ANZCE! ?:! U?HEL>L:>NO?! MC! EC=R>MZCE! HCUCEE<=>AE! h!^=CELANO?!M?E!EC=R>N?E`!MCEMC!S:C!A!1?HUCEE>?H<=>A!LCHfA!^=?R>MCHU>AM?!AE!M>D>bnHU>AE!C!M?U:;CHLANZCE!HCUCEE<=>AE!
P@Q`! 5&&&!U?;B>HAM?!U?;!QQ@Q`!5&&!
'?MC=!^lBD>U?!
7=CRC!M?!^CEE?AD!LiUH>U?!C!AM;>H>EL=AL>R?!MA!1?HUCEE>?H<=>A! QQ@Q`!&&! 1?HUCEE>?H<=>A!
0>HAHU>A;CHL?! QQ@Q`!5&&&! 1?HUCEE>?H<=>A!
*>EU?E!ECb:=<RC>E! Yc@Q! 1?HUCEE>?H<=>A!
5A=>ANO?! MA! MC;AHMA! GCHL=C! AE! =CR>EZCE`! ?! =>EU?! i! MA! 1?HUCEE>?H<=>Ao! HAE!=CR>EZCE`!CEEAE!RA=>ANZCE!EO?!L=AHEXC=>MAE!hE!LA=>XAEJ!
1D<:E:DA! _@Q`!S:C! ^=CRn! A!=CR>EO?!?=M>H<=>A!
1?;^A=L>DfAM?!
&HXDANO?! 1D<:E:DA!K! 1?;^A=L>DfAM?!
5A=>ANO?!bC=AD!M?E!U:EL?E!GCHL=C!AE!=CR>EZCE`!?!=>EU?!i!MA!1?HUCEE>?H<=>A!j!A!;CH?E! S:C! :;! lH>U?! CRCHL?! bC=C! [a! MC! RA=>ANO?! jo! HAE! =CR>EZCE`! CEEAE!RA=>ANZCE!EO?!L=AHEXC=>MAE!hE!LA=>XAEJ
1D<:E:DA! _@Q`!S:C! ^=CRn! A!=CR>EO?!?=M>H<=>A!
1?;^A=L>DfAM?!
!
1?;?!?!U?HL=AL?!MC!U?HUCEEO?!^=CEE:^ZC!:;A!L=AHEXC=nHU>A!MC!=>EU?E!^A=A!A!U?HUCEE>?H<=>A`!HO?!EC=>A!^?EETRCD!E:^?=!S:C!S:ADS:C=!CRCHL?!S:C!>;^AULC!A!^=CELANO?!M?E!EC=R>N?E!GS:C=!ECdA!H?E! RCL?=CE! U:EL?E`! >HRCEL>;CHL?E! ?:! =CUC>LAEJ! MC;AHMC! U?;^CHEANZCE! ^?=! >HLC=;iM>?! M?!=CCS:>DTB=>?! CU?HV;>U?WX>HAHUC>=?! M?! U?HL=AL?@! %;A! >HLC=^=CLANO?! A;^DA! U?;?! CELA!>HR>AB>D>]A=>A! S:ADS:C=! LCHLAL>RA! MC! L=AHEXC=nHU>A! MC! =>EU?E! ^A=A! A! >H>U>AL>RA! ^=>RAMA! C!L=AHEX?=;A=>A!?!U?HL=AL?!MC!U?HUCEEO?!H:;!U?HL=AL?!MC!=CC;B?DE?!MC!U:EL?E@!-EE>;`!X:L:=?E!C!
!
Q[!!
CRCHL:A>E!^DC>L?E!MC!=CCS:>DTB=>?!MCRC=O?!=CXC=>=!hE!f>^gLCECE!CH:;C=AMAE!H?!U?HL=AL?!GS:AHL?!hE! f>^gLCECE! MC! =CCS:>DTB=>?J@! -! ;CHE:=ANO?! M?E! CXC>L?E! MCEECE! CRCHL?E! MCECS:>D>B=AM?=CE`!C;B?=A!MCRA!EC=!=CAD>]AMA!MC!X?=;A!;A=b>HAD[`!^?MC=<!MC^CHMC=!MC!=CE:DLAM?E!?BL>M?E!HCEEC!^=?UCEE?!MC!=CR>EO?!?=M>H<=>AF@! &EE?`!U?HL:M?`!HO?!^C=;>LC!U?HX:HM>=!A!=CR>EO? CIL=A?=M>H<=>A!U?;!A!?=M>H<=>A`!S:C!LC;!?:L=?E!X>HE@!
ABF (G'16&7H,.(,(@&1.(6*(%,:&.8'('%6&1$%&*(
1?;?!R>EL?!AHLC=>?=;CHLC`!:;A!^=C?U:^ANO?!U?;:;!H?E!U?HL=AL?E!^lBD>U?W^=>RAM?E!MC!D?Hb?!^=A]?`! U?;?!i!?!UAE?!M?!1?HL=AL?!MC!1?HUCEEO?!cFecF`!i! G&J! A! U?HUC^NO?!C! G&&J! A!bCELO?!M?E!;CUAH>E;?E! S:C! ;>H>;>]C;! >HUC=LC]AE! MCU?==CHLCE! M?! D?Hb?! ^=A]?! MC! R>bnHU>A! MC! LA>E!U?HL=AL?E@! 2A>E! ;CUAH>E;?E! CELO?`! C;! =Cb=A`! ^=CR>EL?E! H?E! U?HL=AL?E! MC! U?HUCEEO?! C! EO?!?=bAH>]AM?E! C;! L?=H?! MC! H?=;AE! E?B=C! CS:>DTB=>?! CU?HV;>U?WX>HAHUC>=?`!AD?UANO?eU?;^A=L>DfA;CHL?!MC! =>EU?E`! =CR>EO?! LA=>X<=>A! G?=M>H<=>A!C!CIL=A?=M>H<=>AJ!C! =CAd:ELC!LA=>X<=>?@! ,! E:UCEE?! MA! U?HUC^NO?! MCEECE! ;CUAH>E;?E! >HLC=XC=C! MCU>E>RA;CHLC! H?! b=A:! MC!U?;^CL>NO?!H?!^=?UCEE?! D>U>LALg=>?!C!HA! X?=;:DANO?!MC!^=?^?ELAE!CU?HV;>UAE!;A>E!AD>HfAMAE!A?!>HLC=CEEC!^lBD>U?@!!
-! #%6-37"( "#$-&4#-'( ?( :5( -&3+#:5%&+"( )%#-K$-0"( $%( 0"5)'#+-<='5%&+"( $%( #-30"3( %&+#%( '3()'#+%3( L5"5%&+"( %5(J:%( "( #%M:<'$"#( $%;-&%( &"6"3( )'+'5'#%3( ")%#'0-"&'-3( %( %0"&N5-0"B;-&'&0%-#"3()'#'("()#K@-5"()%#O"$"P@!!
+CEEC! ECHL>M?`! ADb:;AE! ^=C;>EEAE! EO?! CEECHU>A>E(! C;! ^=>;C>=?! D:bA=`! i! HCUCEE<=>?! S:C! ?!U?HL=AL?! ^C=;>LA! A! =CR>EO?! ^C=>gM>UA`! >EL?! i`! S:C! ?! >HEL=:;CHL?! CI^=CEEA;CHLC! >HM>S:C! S:C!fARC=<`!?=M>HA=>A;CHLC`!=CR>EO?!MAE!U?HM>NZCE!MA!U?HUCEEO?o!ADi;!M>EE?`!i!HCUCEE<=>?!S:C!ECdA!U?HEL=:TM?!:;!;?MCD?!U?HUC>L:AD!^A=A!A!=CR>EO?!?=M>H<=>A!S:C!ECdA!U?C=CHLC!C!L=AHE^A=CHLC@!
,! ^=>;C>=?! >LC;! i! XAU>D;CHLC! ^C=UCB>M?! HA! UD<:E:DA! ?>LARA! M?! U?HL=AL?`! HAE! =CE?D:NZCE! MA!-7#*)-! C! H?E! ^=g^=>?E! M?U:;CHL?E! A^=CECHLAM?E! ^CDA! U?HUCEE>?H<=>A`! S:C! ;CHU>?HA;! A!=CR>EO?!?=M>H<=>A!@!!
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
+?!UAE?!AHAD>EAM?`!?E!MCEAX>?E!EO?!R<=>?E`!^=>HU>^AD;CHLC!C;!X:HNO?!M?!XAL?!MC!S:C!A!-7#*)-!CEL<!A!bC=>=!A!=CR>EO?!?=M>H<=>A!MCELC!U?HL=AL?!^CDA!^=>;C>=A!RC]`!^?>E!?!U?HL=AL?!MC!U?HUCEEO?!CELABCDCUC:!A!^=>;C>=A!=CR>EO?!?=M>H<=>A!^A=A!U>HU?!AH?E!A^gE!A!E:A!UCDCB=ANO?@!!
'A=A! EC=! U?C=CHLC`! A! =CR>EO?! ?=M>H<=>A! MCRC! >;^D>UA=! HA! AH<D>EC! U?;^DCLA! MA! ^=CELANO?! M?E!EC=R>N?E! C! MAE! U?HM>NZCE! MA! U?HUCEEO?`! >HUD:E>RC! MA! MC;AHMA`! M?! HTRCD! MC! EC=R>N?`! M?E!>HRCEL>;CHL?E!HCUCEE<=>?E!^A=A!?!^C=T?M?!X:L:=?!C!M?E!U:EL?E!C!MCE^CEAE!CHR?DR>M?E@!+O?!f<!U?;?! CIC=UC=! :;! ^=?UCEE?! MC! =Cb:DANO?! LA=>X<=>A! U?C=CHLC! EC;! S:C! ECdA;! R>EL?E! CEECE!AE^CUL?E@!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!![! +A! ;CM>MA! C;! S:C! A! U?HUCEE>?H<=>A! HO?! CEL<! ECHM?! =C;:HC=AMA! G^=n;>?J! ^A=A! bC=CHU>A=! LA>E! =>EU?E`! EC! ?E! ;CE;?E! EC!U?HU=CL>]A=C;! C! >;^AULA=C;! A! ^=CELANO?! M?E! EC=R>N?E! C! A! U?HUCEE>?H<=>A! MC;AHMA=! U?;^CHEANZCE! U?;! ?BCM>nHU>A! hE! =Cb=AE!U?HL=AL:A>E`!CEEAE!MCRC=O?!EC=!CS:>RADCHLCE!A?E!>;^AUL?E!S:C!LCHfA!CXCL>RA;CHLC!E:^?=LAM?@!F'?=!CIC;^D?`!EC!X?=!?!UAE?!MC!EC!A^D>UA=!?!E:B>LC;!M? U?HL=AL?!S:C!L=ALA!MC!=CCS:>DTB=>?!S:AHM?!:;!lH>U?!CRCHL?!bC=A!>;^AUL?!
MC! U:EL?E! E:^C=>?=! A! [a! M?E! U:EL?E! L?LA>E! ?:! MC! ;CHE:=A=! ?! MCECS:>DTB=>?! MCU?==CHLC! MC! AHLCU>^ANO?! ?:! ^?ELC=bANO?! MC!>HRCEL>;CHL?E`! ?E! RAD?=CE! X>HA>E! S:C! X?=C;! ?BL>M?E! HCELA! =CR>EO?! ! ?=M>H<=>A! MCRC=O?! EC=! U?HE>MC=AM?E`! C! HO?! ?E! RAD?=CE! MA!^=?^?ELA@!
!
QF!!
-MC;A>E`!H?!s;B>L?!MA!U?C=nHU>A!MA! =CR>EO?`!MCRCWEC! =CU?=MA=!S:C!A! =Cb:DANO?! LA=>X<=>A! LC;!U?;?! ^=>HU>^A>E! ?BdCL>R?E! A! U?HU>D>ANO?! MA! CX>U>nHU>A! HA! ^=CELANO?! M?E! EC=R>N?E! U?;! A!CS:>MAMC@! -! CX>U>nHU>A! =CS:C=! ?! U?;^A=L>DfA;CHL?! AMCS:AM?! MC! =>EU?E! CHL=C! ^=CELAM?=! MC!EC=R>N?E! C! :E:<=>?E`! ECHM?! ADUAHNAMA! ^CD?E! ECb:>HLCE! ;C>?E(! G&J! :E?! CX>U>CHLC! M?E! =CU:=E?E!M>E^?HTRC>E! C! G&&J! ?! ?XC=CU>;CHL?!MC! >HUCHL>R?E! AMCS:AM?E!^A=A! A! =CU?;^?E>NO?! C! A;^D>ANO?!HCUCEE<=>A! M?E! AL>R?E! MA! U?HUCEEO?@! -! CS:>MAMC! MCRC! EC=! bA=AHL>MA! ^CDA! HO?! M>EU=>;>HANO?!CHL=C!:E:<=>?E!C!=C^A=L>NO?!M?E!bAHf?E!MC!^=?M:L>R>MAMC!CHL=C!:E:<=>?E!C!U?HUCEE>?H<=>A@!!
2?;AHM?! ^?=! BAEC! CEECE! ?BdCL>R?E`! ^?MC;! EC=! MCM:]>M?E! ?:L=?E! ^=>HUT^>?E! ?=>CHLAM?=CE! A?!^=?UCEE?!MC!=CR>EO?!^C=>gM>UA@!!
,! ^=>;C>=?! MCDCE! i! ?! MC! S:C! Eg! CI>EL>=O?! >HUCHL>R?E! A?! A^?=LC! MC! H?R?E! >HRCEL>;CHL?E! EC!f?:RC=!;C>?E!MC!=C;:HC=A=!AMCS:AMA;CHLC!?!UA^>LAD!C;^=CbAM?!A?!D?Hb?!M?!U>UD?!MC!R>MA!M?!U?HL=AL?`! C! EC! f?:RC=! ;C>?E! MC! EC! RC=>X>UA=! EC! ?E! >HRCEL>;CHL?E! CELO?! ECHM?! XC>L?E! C;!S:AHL>MAMC! C! S:AD>MAMC! AMCS:AMAE@! 1?;?! U?HECS:nHU>A`! A! =Cb:DANO?! LA=>X<=>A! MCRC! EC=!?=>CHLAMA!^A=A!?E!U:EL?E!MC!D?Hb?!^=A]?!M?E!EC=R>N?E!^=CELAM?E!^CDA!U?HUCEE>?H<=>A@!!
,!ECb:HM?!i!S:C!A! =CR>EO?!MAE!U?HM>NZCE!MA!U?HUCEEO?!LA;Bi;!MCRC!ALCHMC=!A?!U=>Li=>?!MC!L=AHE^A=nHU>A`! UABCHM?! A?! =Cb:DAM?=! AM?LA=! ^=?UCM>;CHL?E! ^C=;C<RC>E! A?! U?HL=AM>Lg=>?`!^=?^>U>AHM?! A?E! AbCHLCE! >HLC=CEEAM?E! H?E! =CE:DLAM?E! M?! ^=?UCEE?! MC! =CR>EO?! C! ^=?X>EE>?HA>E!CE^CU>AD>]AM?E`! A?! =C^=?M:]>=! A! ARAD>ANO?! M?! =Cb:DAM?=! C! EC:E! ;iL?M?E`! UfCbA=! A! RAD?=CE!A^=?I>;AM?E@!!
2?M?E! CEECE! RCL?=CE! C! ^=>HUT^>?E! X?=A;! U?HE>MC=AM?E! H?E! CEL:M?E! >HM>UAM?E! H?E! UA^TL:D?E!ECb:>HLCE@!,!=CE:DLAM?!A^=CECHLAM?!A!ECb:>=!CHR?DRC!:;A!H?RA!LA=>XA!U?;^ALTRCD!U?;!A!;CDf?=!>HX?=;ANO?! M>E^?HTRCD! E?B=C! U:EL?E! C! >HRCEL>;CHL?E! HCUCEE<=>?E! h! ^=CELANO?! M?E! EC=R>N?E!^lBD>U?E`!MC!AU?=M?!U?;!?!HTRCD!MC!EC=R>N?!CELABCDCU>M?!^A=A!?!^=gI>;?!U>UD?@!-HLCE`!U?HL:M?`!RC=>X>S:C;?E!?E!CEL:M?E!E?B=C!A!=CR>EO?!A^=CECHLAM?E!^CDA!U?HUCEE>?H<=>A@!
!
QK!!
I-,&5'.(6*()JK(($
EBC (D*1&@,.5*78'(&1&=&*-L(
#;!Y!MC!;A=N?!MC!YcQQ`!A!2\)!A^=CECHL?:!h!-7#*)-!?!M?U:;CHL?!>HL>L:DAM?!q#EL:M?!MA!Qu!*CR>EO?!,=M>H<=>A!M?!1?HL=AL?!MC!1?HUCEEO?!Hv!cFecFr`!^=CR>ELA!H?! >LC;!_@Q!M?!1?HL=AL?!MC!1?HUCEEO?@!!
2AD! CEL:M?! CEL<! M>R>M>M?! C;! U>HU?! ^A=LCE`! ADi;! MA! A^=CECHLANO?! C! M?E! AHCI?E@! 6<! :;A!>HL=?M:NO?! E?B=C! ?! f>ELg=>U?! M?! ^=?UCEE?! MC! D>U>LANO?! C! E?B=C! AE! X:HNZCE! AEE:;>MAE! ^CDA!U?HUCEE>?H<=>A`! MCELAUAHM?! ?E! U?;^=?;>EE?E! MC! >HRCEL>;CHL?! A?! D?Hb?! M?E! Y[! AH?E! M?!U?HL=AL?!G2ABCDA!YJ@!#;!ECb:>MA`!A!U?HUCEE>?H<=>A!AB?=MA E?B=C!A!CR?D:NO?!M?!E>ELC;A!C!ARAD>A!A!E>L:ANO?!AL:AD!M?!CS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?!M?!U?HL=AL?@!'AEEA!CHLO?!A!M>EU?==C=!E?B=C!:;A! ^=?^?ELA! MC! ;?MC=H>]ANO?! M?! E>ELC;A! C! AE! ADLC=HAL>RAE! MC! X>HAHU>A;CHL?@! '?=! X>;`!MCXCHMC!A!RAD>MAMC!d:=TM>UA!MA!^=?^?ELA!X?=;:DAMA@!!
'A=A!AH<D>EC!MA!E>L:ANO?!AL:AD!MA!U?HUCEEO?`!A^=CECHLA!G2ABCDA![J!:;!XD:I?!MC!UA>IA!U?HLCHM?!?E!q>HRCEL>;CHL?E!=CAD>]AM?Er!M?!AH?!]C=?!ALi!?!AH?!9`!LCHM?!E>M?!;AHL>M?E`!HCEEA!LABCDA![`!AE!=CUC>LAE! C! ?E! >HRCEL>;CHL?E! M?! AH?! [! A?! AH?! Y9`! U?HX?=;C!?E! RAD?=CE! ^=CR>EL?E! HA! ^=?^?ELA!A^=CECHLAMA!C;!D>U>LANO?@!/:BL=A>HM?!MA!=CUC>LA!DTS:>MA!?E!U:EL?E!+"+'-3('):#'$"3($"('&"(1('"('&"(Y!j!C!HO?!?E!RAD?=CE!MA!^=?^?ELA`!=CEEADLAWEC!j!C!=C^D>UAHM?!^A=A!?E!MC;A>E!AH?E!?E!RAD?=CE!MA! ^=?^?ELA`! X?>! A^=CECHLAM?! :;! XD:I?! MC! UA>IA! MA! U?HUCEEO?`! M?! S:AD! =CE:DLA=>A! :;A! 2AIA!&HLC=HA!MC!*CL?=H?!G2&*J!MC!c`cPQ[a!A@A@!#EEC!XD:I?!X?>!^=C^A=AM?!;CM>AHLC!?!C;^=Cb?!MA!LAIA!MC! MCEU?HL?! MC! Q_`9a! A@A@! +O?! X?>! A^=CECHLAMA! A!;C;g=>A! MC! U<DU:D?! ^A=A! A^:=ANO?! MC! LAD!RAD?=@!!
/Cb:HM?! ?! CEL:M?! A^=CECHLAM?`! A! U?HUCEE>?H<=>A! =CRCDA! A! CI^CULAL>RA! MC! U=CEU>;CHL?! MA!MC;AHMA! C! MA! AM?NO?! MC! ?:L=AE! ;CM>MAE! GCI^AHEO?! M?E! EC=R>N?E! qf?=A! ;A=UAMAr`! ^?=!CIC;^D?Jo!;CE;?!AEE>;`!EC=>A!CI>b>M?!:;!q=CAD>HfA;CHL?r!LA=>X<=>?!MC!Y"`Ka`!C;!MCU?==nHU>A!MC!E:^?EL?E!/'0'12%*34$%&0@!
#;! H?EEA! R>EO?`! AE! U?D?UANZCE! C;^=CbAMAE! ^A=A! X:HMA;CHLA=! CELA! U?HUD:EO?! HO?! EO?!U?;^ALTRC>E!U?;!?!U?HL=AL?!MC!U?HUCEEO?!UCDCB=AM?@!!
#;! ^=>;C>=?! D:bA=`! i! >;^?=LAHLC! MC>IA=! UDA=?! S:C! ?! CM>LAD! MC! D>U>LANO?! ?:! ?! U?HL=AL?! MC!U?HUCEEO?!HO?!R>HU:DA;!?!CS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?!MA!U?HUCEEO?!h!2&*!S:C!MCU?==C!MA!^=?^?ELA!CU?HV;>UA!C!M?!^DAH?!MC!HCbgU>?E!A^=CECHLAMA!^CDA!D>U>LAHLC!RCHUCM?=A@!#;!ECb:HM?!D:bA=`! A! U?HUCEE>?H<=>A`! H?! q#EL:M?! MA! Qu! *CR>EO?! ,=M>H<=>A! M?! 1?HL=AL?! MC! 1?HUCEEO?! Hv!cFecFr`!ADi;!MC!HO?!LC=!A^=CECHLAM?!A!;C;g=>A!MC!U<DU:D?!C!CE^CU>X>UAM?!?E!MAM?E!:L>D>]AM?E!C;! EC:E! CEL:M?E`! LCHM?! A^=CECHLAM?! A^CHAE! A! RC=EO?! C;! ^A^CD! MAE! LABCDAE! C! b=<X>U?E! S:C!E:BE>M>A;! EC:E! ^?HL?E! MC! R>ELA`! U?HX:HM>:! AE! ^A:LAE! C! A=b:;CHL?E! =CDAU>?HAM?E! A! M?>E!>HEL>L:L?E!S:C!EC!=CDAU>?HA;`!;AE!S:C`!U?;?!;?EL=A;?E!H?!Lg^>U?!AHLC=>?=`!HO?!EO?!>MnHL>U?E`!A!EABC=`!=CR>EO?!?=M>H<=>A!C!=CR>EO?!CIL=A?=M>H<=>A@!!
+?E! ^=gI>;?E! >LCHE`! d:EL>X>UA;?E! H?EEAE! M>RC=bnHU>AE! C! =CDALA;?E! AE! =CE^?ELAE! A^=CECHLAMAE!^CDA!2\)!U?;!H?EE?E!S:CEL>?HA;CHL?E@!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!K!2?MAE!AE!;CHNZCE!hE!LABCDAE`!XC>LAE!HCELA!ECNO?`!=CXC=C;WEC!hS:CDAE!CIL=ATMAE!M?!M?U:;CHL?!MA!2\)!>HL>L:DAM?!q#EL:M?!MA!Qu!*CR>EO?!,=M>H<=>A!M?!1?HL=AL?!MC!1?HUCEEO?!Hm!cFecFr`!MC!;A=N?!MC!YcQQ@!
!
Q_!!
EBA I'%;",( 18'( "5&-&M*#'.( *( 5*2*( &15,%1*( 6,( %,5'%1'( 6*( N%'N'.5*(/COPFQ4(
+A!CI^C=>nHU>A!=Cb:DALg=>A!B=AE>DC>=A!=CUCHLC`!S:AHM?!EC!L=ALA!MC!U?HL=AL?E!MC!U?HUCEEO?!U?;!UD<:E:DAE!MC!#%6-37"()%#-K$-0'! GU?;?!A!^=CR>ELA!H?!>LC;!_@Q`!^CDA!S:AD`!A!UAMA!U>HU?!AH?E`!M?!U?HL=AL?! MC! U?HUCEEO?! AHAD>EAM?J`! A! ;AH:LCHNO?! M?! CS:>DTB=>?! CU?HV;>U?WX>HAHUC>=?! i!AEE?U>AMA!A?!U?HUC>L?!MC!U:EL?!MC!?^?=L:H>MAMC!M?!UA^>LAD`!CEL>;AM?`!bC=AD;CHLC`!^?=!;C>?!M?!1:EL?!.iM>?! '?HMC=AM?! M?! 1A^>LAD! G1.'1J! ^A=A! ?! ^C=T?M?! U?HL=AL:AD! X:L:=?`! U?;!?! S:C! ?E!>HRCEL>;CHL?E!=CAD>]AM?E!C!A!=CAD>]A=!LC=O?!:;A!=C;:HC=ANO?!AMCS:AMA@!
H%33'<+'B3%(J:%(&7"(+%5"3(0"&=%0-5%&+"3($%()#%0%$%&+%3($%(#%6-39%3()%#-K$-0'3(%5(J:%(3%(+%&='(')<-0'$"('(AUH($'()#")"3+'T($:AHM?!?!U?HL=AL?!^=CRn!'(#%6-37"()%#-K$-0'`!A!UAMA!U>UD?!U?HL=AL:AD! A! CI^CULAL>RA! M?! U:EL?! MC! UA^>LAD! MCRC! EC=! =CXC>LA@! -?! EC! ^=CLCHMC=! R>HU:DA=! ?!=Cb:DAM?=`!^?=!L?MA!=CDANO?!U?HL=AL:AD`!h!LAIA!?BL>MA!MA!^=?^?ELA`!AXAELAWEC!A!^=g^=>A!=A]O?!MC!EC=!MAE!=CR>EZCE!^C=>gM>UAE@(
-!=CR>EO?`!AEE>;`!^A=LC!MA!AL:AD>]ANO?!M?E!MAM?E!U?HE>MC=AM?E!HA!^=?^?ELA`!?!S:C! >;^D>UA!H?!U<DU:D?!MC!:;A!H?RA!2&*o!CEEA!H?RA!LAIA!MCRC!EC=!UA^A]!MC!bA=AHL>=!A!=CHLAB>D>MAMC!M?!^=?dCL?`!U?HE>MC=AHM?! ?E! MAM?E! AL:AD>]AM?E@! U33"( &7"( 3-M&-;-0'( J:'<J:%#( $%3#%3)%-+"( Q3( 0"&$-89%3(%;%+-6'3($'()#")"3+'`! AX>HAD`! ?BR>A;CHLC`! LA;Bi;!U?HE>MC=?:! L?M?!?! U?Hd:HL?!MC! =Cb=AE!M?!CM>LAD! C! M?! U?HL=AL?`! >HUD:E>RC! A! UD<:E:DA! MC! S:C! fARC=>A! =CR>EO?! ^C=>gM>UA! MAE! U?HM>NZCE! MA!U?HUCEEO?@!
'?=! ?:L=?! DAM?`! AB?=MAHM?! Ab?=A! ?! LC;A! MA! =CR>EO?! CIL=A?=M>H<=>A`! ADb:;AE! RC]CE! AE!M>E^?E>NZCE!CM>LADTU>AE`!U?HL=AL:A>E!?:!=Cb:DALg=>AE!CI>bC;!S:C!A!;CHE:=ANO?!MC!MCECS:>DTB=>?E!C!?E!=CE^CUL>R?E!U<DU:D?E!MC!=CCS:>DTB=>?E!j!>HC=CHLCE!A!^=?UCEE?E!MC!=CR>EO?!CIL=A?=M>H<=>A!?:!!MC!=CCS:>DTB=>?!j!ECdA! =CAD>]AMA!^?=!;C>?!MA!A^D>UANO?!MC!LAIAE! >HLC=HAE!MC!=CL?=H?! >HM>UAMAE!C;!^=?dCNZCE!X>HAHUC>=AE!A^=CECHLAMAE!^?=!D>U>LAHLCE`!U?;?!EC!CEEAE!LAIAE!G&J!=C^=CECHLAEEC;!?!U:EL?!MC!UA^>LAD!HA!?^?=L:H>MAMC!MA! D>U>LANO?!C! G&&J!U?HL>H:AEEC;!A!=C^=CECHL<WDA!^?=!?UAE>O?!MA!=CR>EO?!CIL=A?=M>H<=>A@!!
+?!s;B>L?!MCEEAE!=CR>EZCE!CIL=A?=M>H<=>AE`!A!:L>D>]ANO?!MA!2&*!CEL<!;:>L?!;A>E!AEE?U>AMA!A!E:A!E>;^D>U>MAMC!M?!S:C!A!E:A!R>=L:MC@!
p!>;^?=LAHLC!=CEEADLA=!S:C!A^CHAE!MCRC!^=?E^C=A=!CEEC!A=b:;CHL?!j!MC!S:C!A!2&*!MCU?==CHLC!M?!^DAH?!MC!HCbgU>?E!S:C! E:BE>M>?:! E:A!^=?^?ELA!CU?HV;>UA!MCRC! EC=!:L>D>]AMA!HAE! =CR>EZCE!CIL=A?=M>H<=>AE!j!EC!C!S:AHM?!?!U?HL=AL?`!?BdCL>RA;CHLC`!^=CR>=!S:C!A!=CR>EO?!CIL=A?=M>H<=>A!Z(*'5'-3(6-5"3(%33'(#%M#'(&"(+"0'&+%('(#%6-39%3("#$-&4#-'3S(6'<%(#%33'<+'#(Z!EC=<!^=?UCEEAMA!A!^A=L>=!MA!GXADEAJ!^=C;>EEA!MC!S:C!A!LAIA!MC!=C;:HC=ANO?!MA!U?HUCEE>?H<=>A!i!AS:CDA!MCU?==CHLC!MC! E:A! ^=?^?ELA! CU?HV;>UA! C! S:C! CELA! MCRC! EC=! ;AHL>MA! X>IA! M:=AHLC! L?MA! A! R>bnHU>A! M?!U?HL=AL?`! ?:! S:AHM?! ?! U?HL=AL?! MCLC=;>HA=`! ^CD?! ;CH?E`! S:C! AE! ^=?dCNZCE! X>HAHUC>=AE! S:C!AU?;^AHfA=A;!A!^=?^?ELA!EC=O?!:EAMAE!^A=A!LAD!X>;@!
'A=A!MA=!:;!CIC;^D?!MC!UD<:E:DAE!U?;?!CEEAE!j!BAELAHLC!M>XC=CHLCE!MAE!UD<:E:DAE!M?!U?HL=AL?!MC! U?HUCEEO?! UCDCB=AM?! U?;! A! 2\)! j`! ^?MCWEC! ?BEC=RA=! A! =Cb=A! ^=CR>ELA! H?E! U?HL=AL?E! MC!U?HUCEEO?!MA!^=>;C>=A!CLA^A!M?!^=?b=A;A!MC!U?HUCEEZCE!=?M?R><=>AE!M?!#ELAM?!MC!/O?!'A:D?`!.'$4%0(!
YP@K@! /C;^=C! S:C! fAdA! M>=C>L?! h! =CU?;^?E>NO?! M?! CS:>DTB=>?! CU?HV;>U?WX>HAHUC>=?! M?!1,+2*-2,`!%3+'(3%#4(-5)<%5%&+'$'(+"5'&$"(0"5"(>'3%("3(%;%-+"3($"3(;'+"3(J:%(<=%($%#'5(0':3'S( &"3( -+%&3( #%3)%0+-6"3( $'3( .#"*%89%3( [-&'&0%-#'3( -&0<:O$'3( &'( .H\.\]A/( [U^/^!_UH/@!wCM>LADx!
Y9@Y@! /C;^=C! S:C! fAdA! M>=C>L?! h! =CU?;^?E>NO?! M?! CS:>DTB=>?! CU?HV;>U?WX>HAHUC>=?! M?!1,+2*-2,`!%33'( #%0"5)"3-87"( 3%#4( -5)<%5%&+'$'( +"5'&$"(0"5"(>'3%("3(%;%-+"3($"3( ;'+"3(
!
QP!!
J:%( <=%( $%#'5( 0':3'S( &'( ;"#5'( 0"5"( ;"#'5( 0"&3-$%#'$"3( &'3( .H\`_ab_]( [U^/^!_UH/]T(wU?HL=AL?x!
,:L=?!CIC;^D?!S:C!^?MC!EC=!;CHU>?HAM?!CHR?DRC!?!#M>LAD!MC!1?HU?==nHU>A!'lBD>UA!Hm!YeYcQc!MA!/#2,'e.>HAE!7C=A>E(!!
QF@9@! -! =CU?;^?E>NO?! M?! CS:>DTB=>?! CU?HV;>U?WX>HAHUC>=?! M?! 1?HL=AL?! LC=<! U?;?! =CXC=nHU>A! ?!5AD?=!'=CECHLC!4TS:>M?!W!5'4!U?HELAHLC!M?!XD:I?!MC!UA>IA!M?!'4-+,!3#!+#7y1&,/`!U?HE>MC=AHM?!U?;?!LAIA!MC!MCEU?HL?!^A=A!AE!^=?dCNZCE! X>HAHUC>=AE!A!A/c/( U^A_H^/(,_(H_A\H^\(Z(AUH($"(.d/^\(,_(^_ef!U\]($'(<-0-+'&+%(6%&0%$"#'(A!EC=!:L>D>]AMA!EC;^=C!S:C!f?:RC=!HCUCEE>MAMC!MC!=CU?;^?E>NO?!M?!CS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?!M?!1?HL=AL?@!
#ELCE!CIC;^D?E!=CRCDA;!U?HX?=;ANZCE!U?HL=AL:A>E!CE^CUTX>UAE!E?B=C!?!;iL?M?!A!EC=!A^D>UAM?!H?E! =CCS:>DTB=>?E! CU?HV;>U?WX>HAHUC>=?E! ?:! =CR>EZCE! CIL=A?=M>H<=>AE@! p! HCUCEE<=>?`! U?HL:M?`!S:C!?! U?HL=AL?! ^=CRCdA! CI^=CEEA;CHLC`! U?;?!?E! CIC;^D?E! MC! UD<:E:DAE! >HM>UAMAE! f<! ^?:U?`!S:C! ?E! =CCS:>DTB=>?E! CU?HV;>U?WX>HAHUC>=?E! EC=O?! ^=?UCEEAM?E! ^?=!;C>?! MA! 2&*! MA! ^=?^?ELA!CU?HV;>UA! MA! D>U>LAHLC! RCHUCM?=A! ^A=A! S:C! CRCHL:AD! ^=CLCHEO?! MA! U?HUCEE>?H<=>A! HCELC!ECHL>M?!ECdA!R<D>MA@!
*CAX>=;A;?E`!U?HL:M?`!S:C!&7"(%&0"&+#'5"3(&"#5'($"(0"&+#'+"($%(0"&0%337"(%&+#%(_3+'$"($'( g'=-'( %( '( Ahg( g'=-'( ]G/( J:%( =":6%33%( %3+-):<'$"( '( #%M#'( $%( J:%( %6%&+:'<( #%6-37"(%@+#'"#$-&4#-'( L#%%J:-<O>#-"( %0"&N5-0"B;-&'&0%-#"P( $"( 0"&+#'+"( 3%#-'( -5)<%5%&+'$'( 0"5(>'3%( &'( AUH( $'( )#")"3+'( %0"&N5-0'( $'( <-0-+'&+%( 6%&0%$"#'@!C:-+"( 5%&"3( &"( +"0'&+%( Q(#%6-37"("#$-&4#-'@!
#ELA! U?HUD:EO?! X?=A! A^=CECHLAMA! C;! H?EE?E! =CDALg=>?E! AHLC=>?=CE`! d<! M>E^?H>B>D>]AM?E! ^CDA!-7#*)-! h! U?HUCEE>?H<=>A@! 3CELA=LC`! A! U?HUCEE>?H<=>A`! C;! AB=>D! MC! YcQY`! ! S:CEL>?H?:! CEEA!AH<D>EC! MCECHR?DR>MA! ^CDA! 0&'#1-0&` U?;! A=b:;CHL?E! S:C`! ^?=! HO?! >HR>AB>D>]A=C;! AE!U?HE>MC=ANZCE! S:C! d<! A^=CECHLA;?E`! ECS:C=! CI>b>=>A;! =CE^?ELAE! AM>U>?HA>E@! 1?HL:M?`! ^CDA!>;^?=LsHU>A!MCEEA!S:CELO?!^A=A!?E!=CE:DLAM?E`!RC=>X>S:C;?E!?!LC;A!:;A!RC]!;A>E@!
#;! E:AE! ;AH>XCELANZCE`! AE! UD<:E:DAE! S:C! X?=A;! GS:AEC! ADCAL?=>A;CHLCJ! >HM>UAMAE! ^CDA!U?HUCEE>?H<=>A!HO?!Ln;!?!U?HMO?!MC!E:ELCHLA=!S:C!?!U?HL=AL?!^=CR>:!A!;AH:LCHNO?!MA!2&*!MA!^=?^?ELA! CU?HV;>UA! MA! D>U>LAHLC! RCHUCM?=A! U?;?! ^=C;>EEA! MA! =CU?;^?E>NO?! M?! CS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?!M?!U?HL=AL?`!^?=!M>RC=E?E!;?L>R?E`!;:>L?!;CH?E!MA!=CR>EO?!?=M>H<=>A@!!
I:'&+"('"3($-3)"3-+-6"3($"(%$-+'< 5%&0-"&'$"3()%<'(0"&0%33-"&4#-'`!? >LC;!K@Q@Q_ MCX>H>: S:C!A! LA=>XA! >H>U>AD! EC=>A! CELABCDCU>MA! HA! ^=?^?ELA! RCHUCM?=A`! U?;?`! MC! XAL?`! ?! X?>o! ?! >LC;! K@"P!CELABCDCUC:! S:C! A! LA=>XA! >H>U>AD! ^=?^?ELA! ^CDA! U?HUCEE>?H<=>A! MCRC=>A! EC=! E:X>U>CHLC! ^A=A! ?!CS:>DTB=>?! X>HAHUC>=?`! E?B! ^CHA! MC! HO?! EC=! CICS:TRCD! A! ^=?^?ELAo! ?! >LC;! K@"@QQc`! E:B>LC;! M?!>LC;! K@"`! M>EU>^D>H?:! S:C! ?E! >HRCEL>;CHL?E! ;TH>;?E! C! ?E! U:EL?E! ;TH>;?E! S:C! MCRC=>A;! EC=!U?HE>MC=AM?E! ^CD?! ^=?^?HCHLC! HA! MCX>H>NO?! MC! E:A! LA=>XA`! '33-5( 0"5"( J:%( "3( 6'<"#%3()#")"3+"3($%6%#-'5(3%#('):#'$"3($%('0"#$"(0"5(:5'(AUH(5O&-5'S(#%M#'(%3+'(J:%S()"#(5'-3(J:%( 3%*'( &7"( :3:'<( %( %3+#'&='S( ')%&'3( )"$%( +%#( +-$"( "( )#")K3-+"( $%( ;'0-<-+'#( '( '&4<-3%(0"5)'#'+-6'( $'( %@%J:->-<-$'$%( $'3( )#")"3+'3S( %5( '+%&87"( Q( 0<4:3:<'( iTjo! ?! >LC;! K@FQQ`! MC!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!_! K@Q@Q(! -! '=?^?ELA! MC! '=CN?! MCX>H>=<! A! 2.'! G2A=>XA! .iM>A! MA! '=?^?ELAJ! A! EC=! ^=AL>UAMA! ^CD?! D>U>LAHLC! ?:! U?HEg=U>?`! U?;!^=CCHUf>;CHL?!MC!L?M?E!?E!MAM?E!M>EU=>;>HAM?E!H?!-HCI?!9`!EC;!C;CHMAE`!=CEEADRAE`!=AE:=AE`!B?==ZCE!?:!CHL=CD>HfAE@!!P! K@"(! ,! D>U>LAHLC! ?:! U?HEg=U>?! MCRC=<! CEL>;A=! C! ^=?^?=! :;A! CEL=:L:=A! LA=>X<=>A! U?;! RAD?=CE! LA=>X<=>?E! >b:A>E! ?:! >HXC=>?=CE! A!CEL=:L:=A! MA! 2*.! G2A=>XA! *CXC=CHU>AD! .<I>;AJ! CELABCDCU>MA! U?;?! D>;>LC! ;<I>;?! HA! MALA! MC! 1?HL=ALANO?! C;! RAD?=CE! S:C!U?HE>MC=A=! E:X>U>CHLCE! h! bC=ANO?! MA! =CUC>LA! S:C! AEECb:=C! ?! CS:>DTB=>?! CU?HV;>U?WX>HAHUC>=?! MA! U?HUCEEO?`! AM;>L>MA! LAIA! MC!U=CEU>;CHL?!MC!MC;AHMA!MC!Qa!G:;!^?=!UCHL?J!A?!AH?`!^A=A!X>HE!MC!U?HEL>L:>NO?!MC!^=?dCNZCE!C!^?EE>B>D>MAMC!MC!U?;^A=ANO?!C!AH<D>EC!MC!^=?^?ELA`!EC;!U?HX>b:=A=`!U?HL:M?`!S:ADS:C=!bA=AHL>A!MC!E:A!U?HE:;ANO?!^CD?!'?MC=!1?HUCMCHLC@!Qc!K@"@Q(!,E!>HRCEL>;CHL?E!^=?^?EL?E!MCRC=O?!=CE^C>LA=!?E!D>;>LCE!;TH>;?E!^=CR>EL?E!H?!-HCI?![!MCELC!#M>LAD`!?E!U:EL?E!MA!?^C=ANO?!
C!;AH:LCHNO?!M?!/&/2#.-!CEL>;AM?E!^CD?!'=?^?HCHLC`!BC;!U?;?!A =C;:HC=ANO?!M?!1?HUCEE>?H<=>?!;CM>MA!^CDA!2AIA!&HLC=HA!MC!*CL?=H?!S:C!HO?!^?MC=<!EC=!>HXC=>?=!A?!D>;>LC!;TH>;?!MC!QFa!GMC]CEEC>E!^?=!UCHL?J@!QQ!K@F(!/C=<!AEECb:=AM?!A?!1?HUCEE>?H<=>?`!HA!X?=;A!MA!4C>`!?!CS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?!M?!1?HL=AL?`!A?!D?Hb?!MA!U?HUCEEO?`!
U?HX?=;C! M>E^?EL?! H?! *Cb:DA;CHL?! MA! 1?HUCEEO?! C! H?! 1?HL=AL?`! AL=ARiE! MA! =CR>EO?! M?E! RAD?=CE! MA! 2.'! G2-*&0-!.p3&-! 3-!
!
Yc!!
X?=;A! U?C=CHLC! U?;! A! UD<:E:DA! _@Q! M?! U?HL=AL?! MC! U?HUCEEO?`! MC>IA! UDA=?! S:C! AE! A^CHAE! AE!=CR>EZCE!CIL=A?=M>H<=>AE!MC^CHMC;!MA!?U?==nHU>A!MC!CRCHL?E!MCECS:>D>B=AM?E`!HA!;CM>MA!C;!S:C!A!=CR>EO?!?=M>H<=>A`!C;B?=A!LCHfA!^?=!X>;!AEECb:=A=!?!CS:>DTB=>?!M?!U?HL=AL?`!HO?!LC;!^?=!X>;!A!$',&)#&0%56& MC!EC:!CS:>DTB=>?!M>AHLC!MC!qU?;^=?RAM?E!XAL?E!?:!AL?E!S:C!d:EL>X>S:C;!AE!U?HM>NZCE! MC! MCECS:>DTB=>?! C;! =CDANO?! hE! U?HM>NZCE! MC! =C;:HC=ANO?! M?! >HRCEL>;CHL?!CELABCDCU>MA!MA!'=?^?ELA!MC!4>U>LAHLC!?:!U?HEg=U>?r!@!!
I:'&+"('"3($-3)"3-+-6"3(5%&0-"&'$"3($"(!"&+#'+"`! A! UD<:E:DA! 9@QQY! MCLC=;>HA! LO?! E?;CHLC!S:C!A!LA=>XA!;iM>A!MA!^=?^?ELA!EC=<!A^D>UAMA`!HAMA!M>EU>^D>HAHM?!E?B=C!A!LAIA!MC!=C;:HC=ANO?!MAE! =CR>EZCE! ?=M>H<=>AE! ?:! CIL=A?=M>H<=>AEo( A! UD<:E:DA! F@YQ"! CELABCDCUC! S:C! A! U?HUCEE>?H<=>A!AM;>LC!A!LA=>XA!;iM>A!^=?^?ELA!U?;?!E:X>U>CHLC!^A=A!=C;:HC=A=!?E!U:EL?E!C!?E!>HRCEL>;CHL?E!=CDAL>R?E! A?E! EC=R>N?Eo! A! UD<:E:DA! F@_Q9! LA;Bi;! HO?! X:HMA;CHLA! A! A^D>UANO?! MC! :;A! 2&*!E:^C=>?=!A?!U:EL?!MC!UA^>LAD!CXCL>R?o!A!UD<:E:DA(K@QQ[! L=ALA!MC!=CAd:ELCE!C!HO?!MC!=CR>EO?`!ECdA!CIL=A?=M>H<=>A! ?:! ?=M>H<=>AQFo( '( 0<4:3:<'( kTlli( Z( '&'<-3'$'( '&+%#-"#5%&+%( Z( $%-@'( 0<'#'( '(-&$%)%&$R&0-'(%&+#%('3(#%6-39%3("#$-&4#-'3(%(%@+#'"#$-&4#-'3(%(J:%('(*(+)/7()%(&7"(3%()#%3+'(Q(#%0"5)"3-87"S(5'3(3-5(Q(5'&:+%&87"($"(%J:-<O>#-"(%0"&N5-0"B;-&'&0%-#"@!
1?;^=CCHETRCD!S:C!A!U?HUCEE>?H<=>A!MCECdC!A!A^D>UANO?!MA!2&*!MA!^=?^?ELA`!S:C!EC!U?HX>b:=A!U?;? :;A! LAIA! MC! =C;:HC=ANO?!;A>?=! S:C! ?! EC:! U:EL?! MC! UA^>LAD! AL:AD! j! AX>HAD`! S:C;!HO?!MCECdA=>Az!jo! U?HL:M?`! -&'##%$46%<(J:%("(0"&+#'+"($%(0"&0%337"(0%<%>#'$"(&7"($%+%#5-&'('(
')<-0'87"($%33'(+'@'()'#'('3(#%6-39%3(%@+#'"#$-&4#-'3(%S(5:-+"(5%&"3S()'#'('3("#$-&4#-'3T((
-! LAIA!MC! =C;:HC=ANO?!S:C!:L>D>]A;?E!CEL<! X:HMA;CHLAMA!C;! Lg^>U?!CE^CUTX>U?! AM>AHLC!C!?!;?MCD?! CDAB?=AM?! j! LA;Bi;! >HM>UAM?! A! ECb:>=! j! B:EUA`! d:ELA;CHLC`! CELABCDCUC=! LA=>XAE! S:C!
ECdA;!UA^A]CE!EC!AEECb:=A=!A!=C;:HC=ANO?!M?E!>HRCEL>;CHL?E!C!A!U?BC=L:=A!M?E!U:EL?E@!
EBE (I'%;",(18'(.,(%,.5%&1R&%(*'.(."N'.5'.(6,.,;"&-<+%&'.(
#;!CILCHEA!;AH>XCELANO?!MC!Qc!MC!AB=>D!^@^`!A!U?HUCEE>?H<=>A`!ADi;!MC!MCXCHMC=!A!HCUCEE>MAMC!MC!;AH:LCHNO?!MA!2&*!MA!^=?^?ELA!C!EABCM?=A!MAE!M>X>U:DMAMCE!MC!EC!MCXCHMC=!CEEA!A^D>UANO?!C;! ^=?UCEE?E! MC! =CR>EO?! ?=M>H<=>A`! )'33'( '( 0"&3+#:-#( '#M:5%&+'87"( J:%S( )#'+-0'5%&+%S(()#%33:)9%( -&6-46%<( '( )#K)#-'( #%6-37"( "#$-&4#-'( $"( 0"&+#'+"@! +CELC! U?HLCIL?`! LCHL?:! A!U?HUCEE>?H<=>A!D>;>LA=!A!=CR>EO?!A?E!E:^?EL?E!XAL?=CE!MC!MCECS:>DTB=>?!S:C!X?=A;!>HM>UAM?E!HA!?UAE>O?@!-DCbARA!A!U?HUCEE>?H<=>A`!C;!ETHLCEC`!S:C!LC=TA;?E!MC>IAM?!MC!AHAD>EA=!?E!XAL?=CE!MC!MCECS:>DTB=>?! S:C! DfC! LC=>A;!^=Cd:M>UAM?`! HA!;CM>MA! C;!S:C! A! =CR>EO?! ?=M>H<=>A! q;>=ARAr! ?!
X:L:=?`!C!HO?!?!^AEEAM?@!!
#;!=C:H>O?!C!^?=!CEU=>L?`!CEUDA=CUC;?E!S:C!CEEA!A=b:;CHLANO?! >bH?=ARA!AE!M>XC=CHNAE!CHL=C!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!'*,',/2-J! A! UAMA! [! GU>HU?J! AH?E! ?:`! CIL=A?=M>HA=>A;CHLC`! C;! ^=A]?! >HXC=>?=`! MCEMC! S:C! U?;^=?RAM?E! XAL?E! ?:! AL?E! S:C!d:EL>X>S:C;!AE!U?HM>NZCE!MC!MCECS:>DTB=>?!C;!=CDANO?!hE!U?HM>NZCE!MC!=C;:HC=ANO?!M?!>HRCEL>;CHL?!CELABCDCU>MA!MA!'=?^?ELA!MC!4>U>LAHLC!?:!U?HEg=U>?@!QY! 1D<:E:DA! 9@Q(! -! =C;:HC=ANO?! A?! 1,+1#//&,+{*&,! EC=<! CXCL:AMA! AL=ARiE! MA! U?B=AHNA! MC! 2-*&0-/`! LCHM?! ^?=! BAEC! >H>U>AD! ?E!
RAD?=CE!;<I>;?E!MA!CEL=:L:=A!MA!2.'!j!2-*&0-!.p3&-!'*,',/2-`!^=CR>EL?E!HA!'=?^?ELA!MC!'=CN?!RCHUCM?=A!MA!D>U>LANO?@!Q"! 1D<:E:DA! F@Y(! ,E! RAD?=CE! 2.'! j! 2-*&0-! .p3&-! '*,',/2-! EO?! AM;>L>M?E! ^CD?! 1,+1#//&,+-*&,! U?;?! E:X>U>CHLCE! ^A=A! A!
AMCS:AMA! =C;:HC=ANO?! MA! ^=CELANO?! M?! EC=R>N?! U?HUCM>M?! C! ^A=A! A! ;AH:LCHNO?! M?! CS:>DTB=>?! CU?HV;>U?WX>HAHUC>=?! MCELC!1?HL=AL?`!BC;!U?;?!^A=A!=C;:HC=A=!?E!>HRCEL>;CHL?E!^=CR>EL?E!H?!#M>LAD!MC!4>U>LANO?@!Q9! 1D<:E:DA!F@_(! 0>UA!CHLCHM>M?!S:C!A! LA=>XA! >H>U>AD! U?B=AMA!^CD?!1?HUCEE>?H<=>?`! U?HEL>L:>! A! E:A! =C;:HC=ANO?!^CDA!^=CELANO?!M?!
EC=R>N?!U?HRCHU>?HAD!H?!>HTU>?!MA!U?HUCEEO?`!U?HX?=;C!MCX>H>M?!H?!#M>LAD!C!EC:E!-HCI?E@!Q[! 1D<:E:DA! K@Q(!,! ',3#*! 1,+1#3#+2#! =CAd:ELA=<! ?! RAD?=! MAE! LA=>XAE! LCHM?! U?;?! MALA! BAEC! A! MALA! MA! ^=?^?ELA! RCHUCM?=A! MA!
D>U>LANO?`!HA!^C=>?M>U>MAMC!;TH>;A!^C=;>L>MA!^?=!4C>`!AL=ARiE!M?!|HM>UC!7C=AD!MC!'=CN?E!MC!.C=UAM?!MA!0:HMANO?!7CLlD>?!5A=bAE!j!&7'W.e075`!=CDAL>R?!A?!;nE!M?!=CAd:ELC`!MC!AU?=M?!U?;!A!ECb:>HLC!Xg=;:DA(!G@@@Jr!QF!3CELAUAWEC!S:C`!^?=!?^?=L:H?`!S:C!CEEA!UD<:E:DA!MC!=CAd:ELC!LA;Bi;!CEL<!ECHM?!U?HE>MC=AMA!H?!;?MCD?!A!ECb:>=!MCECHR?DR>M?`!
U?;?!EC!RC=<!AM>AHLC@QK!1D<:E:DA!_@Q(!-!UAMA!c[!AH?E!EC=<!^=?;?R>MA!A!=CR>EO?!?=M>H<=>A!MAE!U?HM>NZCE!MA!U?HUCEEO?@!-!=CR>EO?!^?MC=<`!A>HMA`!EC=!XC>LA`!
C;!UA=<LC=!CIL=A?=M>H<=>?`!R>EAHM?!h!=CU?;^?E>NO?!M?!CS:>DTB=>?!CU?HV;>U?WX>HAHUC>=?!M?!U?HL=AL?`!S:AHM?!CELC!X?=!AXCLAM?`!H?E!UAE?E!=CDAU>?HAM?E(G@@@J@!
!
YQ!!
=CR>EO?!?=M>H<=>A! C! CIL=A?=M>H<=>A`! AEE>;! U?;?`! A?!S:C!H?E! ^A=CU>A`! HO?! CHU?HL=ARA! A;^A=?!
CM>LAD!C!H?!U?HL=AL?!G>LC;!K@F!M?!#M>LAD!C!UD<:E:DA!_@Q!M?!U?HL=AL?`!^?=!CIC;^D?J@!!
/?B=C!?!^=A]?!U?HL=AL:AD!MC!"c!M>AE!^A=A!A!A^=CECHLANO?!MC!^DC>L?E!MC!=CR>EO?!CIL=A?=M>H<=>A`!^CD?!S:C!U?;^=CCHMC;?E!MA!A=b:;CHLANO?!MA!U?HUCEE>?H<=>A`!CEEA!CHLCHMC!J:%("(+#'&30:#3"($%33%()#'D"(3%5('(')#%3%&+'87"($%33%3()<%-+"3!j!HO?!LC;?E!U?HfCU>;CHL?!C!S:ADS:C=!^DC>L?!S:C! LCHfA! E>M?! A^=CECHLAM?! ^?=! CDA! j! HO?! >;^CMC! S:C`! HA! =CR>EO?! ?=M>H<=>A`! CEECE! ECdA;!
AHAD>EAM?E@!!
-?! S:C! H?E! ^A=CUC! j! HO?! H?E! UABC`! UC=LA;CHLC`! MCU>M>=! CEEA! S:CELO?! j`! i! CS:>R?UAM?! ?!CHLCHM>;CHL?!MA! U?HUCEE>?H<=>A@!,! >LC;!K@F! M?! CM>LAD! i! BAELAHLC! UDA=?! H?! ECHL>M?!MC!S:C! A!X=AEC!q/'0/'"12'",&)#$&.!/&0"+!-&0"&2"!-&0"12'"720-%+%12')"!0",&8/%59'0"/'"/'0'12%*34$%&"')"
$'*!56&":0",&8/%59'0"/'"$')28'$!56&"/&"%8.'0-%)'8-&"'0-!4'*',%/!0"8!"#$&#&0-!"/!"*%,%-!8-'r!A^D>UAWEC! A^CHAE! hE! =CR>EZCE! CIL=A?=M>H<=>AE@! *CEEADLAWEC! S:C`! LA;Bi;! H?! U?HL=AL?`! A!q$',&)#&0%56&"/&"'12%*34$%&"',&8;)%,&<+%8!8,'%$&"/&",&8-$!-&=" GUD<:E:DA!_@QJ!i!^A^CD!A^CHAE!
MA!=CR>EO?!CIL=A?=M>H<=>A@!
#;! ETHLCEC`! X?>! ^=CR>EL?! j! U?==CLA;CHLC! j! S:C`! A! UAMA! U>HU?! AH?E`! "0"##%#-'( #%6-37"( $'3(0"&$-89%3( $'( 0"&0%337"`! ?! S:C! CHR?DRC`! HAL:=AD;CHLC`! A! AH<D>EC! C! =CR>EO?! M?! ;?MCD?!?^C=AU>?HAD`! A! >MCHL>X>UANO?! M?E! U:EL?E! ?^C=AU>?HA>E`! M?E! >HRCEL>;CHL?E! d<! =CAD>]AM?E! C! A!=CAD>]A=`!M?!U:EL?!MC!UA^>LAD!CLU@`!5%35"(J:%(&7"(6%#-;-0'$'(&'(<%-(L":(&"(0"&+#'+"P(J:'<J:%#(
%&:5%#'87"($%(=-)K+%3%3($%(#%%J:-<O>#-"T!
#EEA!AX>=;ANO?`! A!H?EE?! RC=`!HO?! U?HL=AM>]!S:ADS:C=! UD<:E:DA! U>LAMA!^CDA!2\)! !j! AE!;CE;AE!S:C!d<!X?=A;!;CHU>?HAMAE!f<!^?:U?!j`!ECdA!M?!CM>LAD`!ECdA!M?!U?HL=AL?@!-!4C>!Hm!_P_KeP[`!^?=!EC:! L:=H?`! LA;Bi;! HO?! U?HLC;! S:ADS:C=! =CEL=>NO?! h! =CR>EO?! ?=M>H<=>A! LAD! U?;?! A! RC;?E!CELABCDCU>MA! H?! U?HL=AL?`! >HUD:E>RC! H?! S:C! EC! =CXC=C! h! >MCHL>X>UANO?! C! A^D>UANO?! M?! U:EL?! MC!UA^>LAD!U?HLC;^?=sHC?@!1AE?!U?HL=<=>?`!AE!=CR>EZCE!U?;:;CHLC!RC=>X>UAMAE!H?E!ECL?=CE!MC!b<E`!
M>EL=>B:>NO?!MC!CHC=b>A!CDiL=>UA!C!EAHCA;CHL?!EC=>A;!>DCbA>E@!!
+?!S:C!LAHbC!hE!E:^C=X>U>A>E!ADCbANZCE!MC!R>?DANO?!M?!A=L@!"K`!}}&`!MA!1?HEL>L:>NO?!0CMC=AD`!H?E!^A=CUC! S:C`!$%&+#%( '3( 0"&$-89%3( %;%+-6'3( $'( )#")"3+'! %3+'6'`! UC=LA;CHLC`! '( #%'<-D'87"( $'(#%6-37"( "#$-&4#-'@! 1A:E?:WH?E! CE^AHL?! S:C`! C;! :;A! U?HUCEEO?! LO?! ^?:U?! >HLCHE>RA! C;!>HRCEL>;CHL?E!U?;?!CEEA`!A!U?HUCEE>?H<=>A!LCHfA!>HE>H:AM?!S:C!CEEA!HO?!MCRC=>A!EC=!XC>LA@!U33"()"#J:%( '( #%6-37"( "#$-&4#-'( 3%#6%`! LAD! U?;?! ?E! =CAd:ELCE`! 0"5"( 5%0'&-35"( $%(0"5)'#+-<='5%&+"($"3( #-30"3! MC! RA=>ANO?!MA!S:AHL>MAMC!C!M?E!^=CN?E!M?E!^=>HU>^A>E! XAL?=CE!S:C`! &$/%8!$%!)'8-'`! AXCLA;! A! ^=CELANO?! M?E! EC=R>N?E! C`! AEE>;`! )'#'( 5'&+%#( "( 0"&+#'+"(
%J:-<->#'$"@!!
EBF (!'+%,('.(."N'.5'.(,:,15'.(6,.,;"&-&+%*6'%,.((
#;! =C:H>O?! =CAD>]AMA! HA! -7#*)-`! CEUDA=CUC;?E! h! U?HUCEE>?H<=>A! AE! =A]ZCE! ^CDAE! S:A>E`! C;!H?EEA!?^>H>O?`!HO?!^=?UCM>A;!?E!E:^?EL?E!MCECS:>DTB=>?E!^?=!CDA!>HM>UAM?E!C;!E:A!^CL>NO?!MC!Qc!MC!AB=>D!MC!YcQY`!;CE;?!S:C!EC!MCEU?HE>MC=AEEC S:C!HO?!X?>!A^=CECHLAM?!S:ADS:C=!^DC>L?!H?!^=A]?!C!HA!X?=;A!S:C!?!U?HL=AL?!>HM>UA!C`!A>HMA`!S:C!EC!AM;>L>EEC!S:C!A!=CR>EO?!?=M>H<=>A!LCHfA!^?=!X>;!A!AH<D>EC!=CL=?AL>RA!MC!CRCHL?E!MCECS:>D>B=AM?=CE@!!-E!=A]ZCE!X?=A;!AE!ECb:>HLCE(!
]">#%( "( +*$86)/( '6'#-'$"`! A^gE! LC=;?E! U?HE>MC=AM?! C;! H?EE?E! =CDALg=>?E! ^=CD>;>HA=CE! j!AE^CUL?! CELC! ;AHL>M?! HCELC! =CDALg=>?! j! S:C! A! U?HUCEE>?H<=>A! MCRC=>A! =CU:^C=A=`! hE! E:AE!CI^CHEAE`!:;!/&*#>%8!ARA=>AM?!H?!LC=;>HAD!MC!/ADRAM?=`!A!U?HUCEE>?H<=>A!ADCb?:!S:C!d<!fAR>A!MCEbAELCE! HAE! CEL=:L:=AE! E:BAS:<L>UAE`! EC;`! U?HL:M?`! CEUDA=CUC=! S:ADS:C=! U?HCIO?! MCEECE!E:^?EL?E! MCEbAELCE! U?;! A! =C^?HEAB>D>MAMC! S:C! DfC! X?>! >;^:LAMA! ^CDA! -7#*)-@! -MC;A>E`!
!
YY!!
LA;Bi;! HO?! MC;?HEL=?:`! A! H?EE?! RC=`! HC;! ^?=! f>^gLCEC`! S:AD! ?! MCECS:>DTB=>?! MCU?==CHLC!MCEEC! E:^?EL?! MCEbAELC! MA! CEL=:L:=A! E:BAS:<L>UA`! C;! CE^CU>AD! H?! S:C! LAHbC! A?E! HCI?E! MC!UA:EAD>MAMCE`! ^=Cd:T]?E! ?:! >;^AUL?E! CXCL>R?E! E?X=>M?E@! 2A;Bi;! HO?! MC;?HEL=?:! S:C! LCHfA!>HRCEL>M?! HA! =CU:^C=ANO?! MCEECE! CS:>^A;CHL?E`! ?B=>bANO?! U?HL=AL:AD! C! gBR>A MAU?HUCEE>?H<=>A`! ^=?R>MnHU>A! CELA!S:C! LC=>A! >;^D>UAM?!j!MCR>M?!A?!;iL?M?!S:C!A^D>UA;?E!j! A!U?HE>MC=ANO?! M?E! >HRCEL>;CHL?E! =CAD>]AM?E! HA! MCX>H>NO?! MA! LA=>XA@! -Di;! MC! L?M?E! CEECE!AE^CUL?E`!S:AHL?!h!U?;:H>UANO?!M?!CRCHL?!MCECS:>DTB=>?`!A!U?HUCEE>?H<=>A!;CHU>?HA!S:C`!C;!E>HbCDA! =CE^?ELA! A! ?XTU>?! MA! -7#*)-`! LC=>A! ^CM>M?! A?! b?RC=H?! S:C! CELC! =CU:^C=AEEC! CEEAE!CEL=:L:=AE`!^DC>L?!CELC!S:C`!^CD?!S:C!X?;?E!>HX?=;AM?E`!CEL<!ECHM?!ALCHM>M?!^CD?!7?RC=H?@!!
]">#%( %6%&+:'<( $%5"#'( $"( e"6%#&"( &'( m%@%0:87"( $%( #%5"+"#-D'87"n( $%( :5'( $'3(%5>'#0'89%3`! ?B=>bANO?! ^=CR>ELA! H?! >LC;! Y9@9! M?! U?HL=AL?`! ALi! ?! D>;>LC! MC! *~! Y`[!;>DfZCE`!X?;?E! >HX?=;AM?E!MC!S:C!C;!MC]C;B=?!MC!YcQc! X?=A!AU?=MAM?`!^?=!;C>?!MC!AM>L>R?`!S:C!?!^=A]?! ^A=A! =CAD>]ANO?! MCEEA! ;?L?=>]ANO?! EC=>A! ?! Li=;>H?! M?! S:>HL?! AH?! M?! U?HL=AL?!GCIALA;CHLC!A!MALA!BAEC!MA!=CR>EO?zJ@!3C!S:ADS:C=!X?=;A`!?E!=CRC=E?=CE!X?=A;!CHL=Cb:CE`!^?=!lDL>;?`! C;! ?:L:B=?eYcQQ`! U?;! ADb:HE! ;CECE! MC! AL=AE?`! ^?=LAHL?@! -! U?HUCEE>?H<=>A! HO?!A^=CECHL?:!S:ADS:C=!DA:M?!=CDAL>R?!A!CEECE!>;^AUL?E`!%5>"#'(+%&='(+#'&30"##-$"(5'-3($%(:5(3%5%3+#%( $"( 0:5)#-5%&+"( $'( ">#-M'87"( )%<"( e"6%#&"S( 0-#0:&3+o&0-'( J:%( <=%( )%#5-+-#-'(5%&3:#'#(%33%3('<%M'$"3(-5)'0+"3T /$%5'-3S(;"#5"3(-&;"#5'$"3($%(J:%('(0"&0%33-"&4#-'(;"-(':+"#-D'$'S( %5( 'M"3+"( $%( p1l1S( '( :+-<-D'#( "3(5"+"#%3( Z( %&J:'&+"( &7"( %#'5( %&+#%M:%3( "3(#%6%#3"#%3(Z(%5(%5>'#0'89%3(0:*'(">#-M'87"($%(5'&+%#("3(5"+"#%3(%5(;:&0-"&'5%&+"(%#'($'()#K)#-'(%5)#%3'!
/?B=C!'(5%&0-"&'$'(mA'#-;'(U6%+%(]'&M'<"n`!ADCbA!A!U?HUCEE>?H<=>A!S:C!X?=A!A^=?RAMA!LABCDA!^A=A! A! C;BA=UANO?! 0)! &RCLC! /AHbAD?`! C;! MC]C;B=?! MC! YccF! C! S:C`! C;! Ab?EL?! MC! Ycc_`! A!-7#*)-! LC=>A! ^=?;?R>M?! CD>;>HANO?! MCEEA! LA=>XA@! 'AEEAM?E! S:AL=?! AH?E`! A! U?HUCEE>?H<=>A!>HM>UA! S:C! MCRC=TA;?E! ! LC=! U?HE>MC=AM?! CELC! XAL?`! ;CE;?! EC;! S:C! CEEA! LCHfA! >HM>UAM?! ?!M>=C>L?!A?!=CUCB>;CHL?!MCEEA!LA=>XA!?:!S:ADS:C=!>DCbAD>MAMC!H?!UAHUCDA;CHL?!MA!;CE;A@!!
$:AHL?!A?!AL=AE?!HA!U?HUCEEO?!M?E!#%'*:3+%3(0"&+#'+:'-3`!CR>MCHLC;CHLC!S:C!CEECE!CRCHL?E`!EC;!S:ADS:C=! d:EL>X>UAL>RA`! MCRC;!bC=A=! M>=C>L?! A! =CCS:>DTB=>?! ?:! =CR>EO?! CIL=A?=M>H<=>A@! #ELC!^?HL?`!U?HL:M?`!X?=A!?BdCL?!MC!H?EEAE!AH<D>ECE!C!U?HUD:T;?E!S:C`!H?!UAE?`!HAMA!;A>E!fARC=>A!MC! EC=! U?;^CHEAM?@! &EE?! ^?=S:C! ?! lDL>;?! =CAd:ELC! U?HUCM>M?! GQcaJ`! 0"5"( '( )#K)#-'(0"&0%33-"&4#-'( #%0"&=%0%:( %5( $"0:5%&+"( %30#-+"( J:%( &"3( ;"-( ')#%3%&+'$"S( 0"5)%&3":( "('+#'3"($"3($%3%J:-<O>#-"3('&+%#-"#%3@!!
'?=!?^?=L:H?`!U:;^=C!CEUDA=CUC=!S:C!&7"(0'>-'(#%'*:3+%(+'#-;4#-"(%5(;%6%#%-#"Gp1ll`!d<!S:C`!^?=!EC=!AH?!MC!=CR>EO?`!A!U?HUCEEO?!E>;:DLsHCA!MC!=CAd:ELC!C!=CR>EO?!CHX=CHLA!>;^?EE>B>D>MAMC!Dgb>UA(!?:!R>b?=A!A!LA=>XA!=CAd:ELAMA`!?:!AE!LA=>XAE!=CR>ELAEz!
I:'&+"( '"( #%'*:3+%( $%( ;%6%#%-#"Gp1lp`! CELC! CXCL>RA;CHLC! MCRC=>A! EC=! A^D>UAM?! C! HO?! ?! X?>@!-EE>;`! MCRC=O?! EC=! A^:=AM?E! ?E! >;^AUL?E! MA! MC;?=A! HA! U?HUCEEO?! MCEEC! =CAd:ELC`! ALi! E:A!>;^DC;CHLANO?@! 1?;?! U?D?UAM?! AU>;A`! CEECE! >;^AUL?E! MCRC;! EC=! ;CHE:=AM?E! MC! X?=;A!;A=b>HAD!C!=CL=?AL>RA`!A!X>;!MC!S:C!?E!CXC>L?E!MCEEA!MC;?=A!ECdA;!HC:L=AD>]AM?E@!,E!>;^AUL?E!EC=O?! E?X=>M?E! ^CDA! U?HUCEE>?H<=>A! ALi! S:C! ECdA! >;^DC;CHLAM?! ?! =CAd:ELC@! +?! Lg^>U?! F`! ?E!CEL>;A;?E@!
$:AHL?!A?!AL=AE?!HA!CXCL>RANO?!MA!0"&+#')'#+-$'($"()"$%#(0"&0%$%&+%()'#'('(0"&3+#:87"($"([g( /&&'( ^%#q`! AU?=MAMA! ^?=! ;C>?! MC! LC=;?! AM>L>R?`! U:;^=C! ?BEC=RA=! S:C! CEEC! XAL?! X?>!MCR>MA;CHLC! U?HE>MC=AM?@! ,=A`! ^?=! ;C>?! MC! AM>L>R?! U?HL=AL:AD`! AE! ^A=LCE! AU?=MA=A;! S:C! ?!=CCS:>DTB=>?! =CDAL>R?! h! AHLCU>^ANO?! M?! 0)! -HHA!+C=�`! U:d?! ^AbA;CHL?! M?!7?RC=H?! C=A!;C=A!AHLCU>^ANO?`! EC=>A! >;^DC;CHLAM?! ^?=! ?UAE>O?! MA! =CR>EO?! ?=M>H<=>A@! -EE>;`! U?HE>MC=A;?E! ?!A^?=LC! M?! 7?RC=H?! U?;?! =CM:L?=! M?! RAD?=! =CDAL>R?! 0)! -HHA! +C=�! U?HE>MC=AM?! HA! BAEC! MC!
!
Y"!!
=C;:HC=ANO?`!;iL?M?!CELC!HO?!S:CEL>?HAM?!^CDA!U?HUCEE>?H<=>A`!C!?!=CELAHLC!M?!>HRCEL>;CHL?!=CU?HfCU>M?!HA!BAEC!MC!=C;:HC=ANO?@!1AE?!CEEC!^AbA;CHL?!f?:RCEEC!E>M?!XC>L?!;A>E!UCM?`!?!>;^AUL?!MCEEA!AHLCU>^ANO?!EC=>A!MCEXAR?=<RCD!h!U?HUCEE>?H<=>A`!HA!;CM>MA!C;!S:C!?!7?RC=H?!LC=>A!^=?;?R>M?!:;!^AbA;CHL?`!C;!LC=;?E!=CA>E`!;A>?=@!
-MC;A>E`! U:;^=C! ?BEC=RA=! S:C! "3( 6'<"#%3( $"3( -&6%3+-5%&+"3( #%0"&=%0-$"3( &'( >'3%( $%(#%5:&%#'87"(&7"( ;"#'5($%$:D-$"3($%(J:'<J:%#($%)#%0-'87"(":('5"#+-D'87"!C!CELO?!ECHM?!U?HE>MC=AM?E! HA! =CR>EO?! ?=M>H<=>A! G?BR>A;CHLC`! X?=A;! CIUD:TM?E! MA! BAEC! =CU?HfCU>MA! ?E!RAD?=CE!L=AHEXC=>M?E!^CD?!^?MC=!^lBD>U?!C!?E!RAD?=CE!^Ab?E!A?!EC:!U?HL=?DAM?=`!^?=!D>BC=AD>MAMC`!^CDA! U?HUCEE>?H<=>AJ@! -EE>;`! C;! H?EEA! ?^>H>O?`! HO?! =CELA! MCECS:>DTB=>?! A! EC=! AHAD>EAM?! ^CDA!AHLCU>^ANO?!M?!0)!-HHA!+C=�@!
#;!=CDANO?!hE!ADCbANZCE!MC!=CU?;^?E>NO?!^=CECHLCE!HA!lDL>;A!^A=LC!M?!q#EL:M?!MA!Qu!*CR>EO?!,=M>H<=>A! M?! 1?HL=AL?! MC! 1?HUCEEO?! Hv! cFecFr`! MCM>UAMA! h! R>AB>D>MAMC! d:=TM>UA! MAE!U?HE>MC=ANZCE!A^=CECHLAMAE!H?!=CXC=>M?!M?U:;CHL?`!HA!;CM>MA!C;!S:C!LA>E!ADCbANZCE!X?=A;!=CE^?HM>MAE!C;!=CDALg=>?E!AHLC=>?=CE`!HO?!X?=A;!H?RA;CHLC!ADCbAMAE!^CDA!U?HUCEE>?H<=>A!C;!E:AE!;AH>XCELANZCE!=CUCHLCE@!!
#;! ETHLCEC`! ?E! A=b:;CHL?E! A^?HLAM?E! HO?! >;^CMC;! A! U?HUCEE>?H<=>A! MC! ^DC>LCA=`! S:AHM?!CHLCHMC=! ^C=L>HCHLC`! U?;^CHEANZCE! ^CDA! ?U?==nHU>A! MC! H?R?E! CRCHL?E! bC=AM?=CE! MC!MCECS:>DTB=>?!G=CR>EO?!CIL=A?=M>H<=>AJ`!MCEMC!S:C!?E!CRCHL?E!bC=AM?E!MC!CRCHL:A>E!^DC>L?E!HO?!MCU?==A;!MC!=>EU?E!AEE:;>M?E!^?=!CDA!^=g^=>A!C!^A=A!?E!S:A>E!LCHfA!AE!MCR>MAE!U?;^=?RANZCE!MC! UA:EAE! C! CXC>L?E`! U?HX?=;C!^=CR>EL?! C;! DC>! C! H?! U?HL=AL?@!-Li!?!;?;CHL?`! U?HL:M?`! HO?!RC=>X>UA;?E! S:ADS:C=! MC;?HEL=ANO?! MC! MCECS:>DTB=>?! =CDAL>R?! A! CRCHL?E! MC! =>EU?E! HO?!AEE:;>M?E!^?=!CDA`!;:>L?!;CH?E!S:C!LCHfA;!E>M?!A^=CECHLAM?E!H?E!^=A]?E!CELABCDCU>M?E!C;!U?HL=AL?@!
!
Y9!!
9,:&.8'('%6&1$%&*(%
FBC 0.N,=5'.(R,%*&.((
1?;?!R>EL?!H?!UA^TL:D?!Y`!A! =CR>EO?!?=M>H<=>A! =CS:C=!:;A!AH<D>EC!U?;^DCLA!MA!^=CELANO?!M?E!EC=R>N?E!C!MAE!U?HM>NZCE!MA!U?HUCEEO?`!?!S:C! >HUD:>!A!^=?dCNO?!MA!MC;AHMA!X:L:=A`!ARAD>ANO?!M?! HTRCD! MC! EC=R>N?! AL:AD! C! MCECd<RCD`! M?E! U:EL?E! C! MCE^CEAE`! MAE! U?HM>NZCE! ^A=A! ADUAHUC! MC!HTRC>E! E:^C=>?=CE! MC! CX>U>nHU>A! ?^C=AU>?HAD! C! M?E! >HRCEL>;CHL?E! HCUCEE<=>?E! ^A=A! CI^AHEO?! C!;CDf?=>A! M?! ALCHM>;CHL?! A?E! :E:<=>?E@! 3CRCWEC! ARAD>A=! LA;Bi;! AE! U?HM>NZCE! MC! :E?! M?E!=CU:=E?E!M>E^?HTRC>E!C!?E!>HUCHL>R?E!AMCS:AM?E!LAHL?!^A=A!A;^D>ANO?!M?!ALCHM>;CHL?`!S:AHL?!^A=A!;CDf?=>A!MA!S:AD>MAMC!M?E!EC=R>N?E@!!
+CELC! UA^TL:D?`! EC=O?! A^=CECHLAM?E! ?E! =CE:DLAM?E! MC! H?EEAE! AH<D>ECE! E?B=C! ?E! U?;^?HCHLCE!HCUCEE<=>?E!h!MCLC=;>HANO?!MA! LA=>XA!A!R>b?=A=!H?!U>UD?! LA=>X<=>?!MA!U?HUCEEO?!U?;^=CCHM>M?!CHL=C!Y"!MC!XCRC=C>=?!MC!YcQQ!C!YY!MC!XCRC=C>=?!MC!YcQF`!S:A>E!ECdA;(!
r( .#"*%87"($%($%5'&$'V(
• (((((((^O6%<($%(3%#6-8"V(
r( !:3+"3(")%#'0-"&'-3V(
r( g'3%($%(#%5:&%#'87"V(%(
r( A'@'($%(#%5:&%#'87"T(
#EEAE!AH<D>ECE`!AEE>;!U?;?!AE!MC;A>E!XC>LAE!H?E!M?>E!UA^TL:D?E!ECb:>HLCE`!=CXC=C;WEC!hE!2ABCDAE!U?HELAHLCE!H?!-HCI?!MCELC!M?U:;CHL?@Q_!!
-HLCE! MC! L=ALA=! MC! UAMA! U?;^?HCHLC! UABC! M>EU?==C=! E?B=C! A! AB?=MAbC;! C;^=CbAMA! ^A=A!MCLC=;>HANO?!MA! LA=>XA@!,!^=?UCM>;CHL?! AS:>! AM?LAM?!C;^=CbA!?!;iL?M?!M?! XD:I?!MC! UA>IA!?^C=AU>?HAD! D>R=C! MCEU?HLAM?! E?;CHLC! MC! :;! U>UD?! LA=>X<=>?@! #EEC! ^=?UCM>;CHL?! i! U?C=CHLC!U?;! ?! CHLCHM>;CHL?! MC! S:C! A! =CR>EO?! ?=M>H<=>A! i! :;! >HEL=:;CHL?! ^C=>gM>U?! MC!U?;^A=L>DfA;CHL?!MC!=>EU?E!CHL=C!AE!^A=LCE@!-?!=CRC=`!A!UAMA!^C=T?M?`!A!^=CR>EO?!MC!MC;AHMA`!>HRCEL>;CHL?E!C!U:EL?E`!EC!ALCH:A;!E?B=C;AHC>=A!?E!=>EU?E@!!
%;!CIC;^D?!^C=L>HCHLC!A!=>EU?!MC!MC;AHMA!EC!=CXC=C!h!^?EE>B>D>MAMC!MC!U?HEL=:NO?!MA!^?HLC!/ADRAM?=W&LA^A=>UA@! #;B?=A! ?! ^=?dCL?! CELCdA! C;! ^A:LA`! AE! U?HM>NZCE! ^A=A! E:A! >;^DAHLANO?!A>HMA!HO?!CELO?!bA=AHL>MAE`!C`!;CE;?!S:AHM?!CEL>RC=C;`!?E!EC:E!CXC>L?E!E?B=C!A!MC;AHMA!HO?!CELA=O?!U?;^DCLA;CHLC!MCX>H>M?E@!-!U?HE>MC=ANO?!A^CHAE!M?!AL:AD!U>UD?!U>HU?!AH?E!^C=;>LC!?!CHX=CHLA;CHL?!MCEEC!AEE:HL?!U?;!=CDAL>RA!ECb:=AHNA@!
,! U?;^A=L>DfA;CHL?! MCEECE! =>EU?E! CEL<! AEE?U>AM?! h! X?=;A! U?;?! ?E! >HRCEL>;CHL?! EO?!=C^=CECHLAM?E!H?! XD:I?!MC!UA>IA@!,!RAD?=! DTS:>M?!M?E! >HRCEL>;CHL?E! =CAD>]AM?E!ALi!?! >HTU>?!MC!UAMA!U>UD?`!CIUD:TMA!A!MC^=CU>ANO?eA;?=L>]ANO?!C!CRCHL:A>E!Ad:ELCE!d:EL>X>UAM?E`!!i!U?HE>MC=AM?!U?;?! :;A! EATMA! MC! UA>IA! H?! >HTU>?! M?! ^C=T?M?! =CR>Eg=>?QP@! ,E! >HRCEL>;CHL?E! ^=CR>EL?E! ^A=A!EC=C;! =CAD>]AM?E! M:=AHLC! ?! U>UD?! LA=>X<=>?! LA;Bi;! EO?! U?;^:LAM?E! U?;?! EATMAE! MC! UA>IA!CEL>;AMAE!H?!XD:I?!?^C=AU>?HAD!^=?dCLAM?!^A=A!?!^C=T?M?@!-E!MC^=CU>ANZCE!M?E! >HRCEL>;CHL?E!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Q_-E!LABCDAE!M?!-HCI?!EO?!H:;C=AMAE!MC!Q!A![F`!MC!X?=;A!A!EC!M>XC=CHU>A=C;!MAE!LABCDAE!M?!U?=^?!MCELC!=CDALg=>?`!?=bAH>]AMAE!MC!
AU?=M?!U?;!DCL=AE!M?!ADXABCL?@!QP!1?HE>MC=AHM?!S:C!?E!RAD?=CE!U?HL<BC>E!HO?!EO?!RAD?=CE!AL:AD>]AM?E!;?HCLA=>A;CHLC`!?E!;CE;?E!EO?!U?==>b>M?E!^A=A!?E!X>HE!MC!
=CR>EO?@!
!
Y[!!
>H>U>A>E`!?E!>HRCEL>;CHL?E!^=?dCLAM?E!C!AE!MC^=CU>ANZCEeA;?=L>]ANZCE!CE^C=AMAE!EO?!MCM:]>MAE!AH?!A!AH?`!CEL>;AHM?WEC`!^A=A!?!Li=;>H?!M?!U>UD?`!:;A!)AEC!MC!*C;:HC=ANO?!0>HAD`!S:C`!^?=!EC:!L:=H?`!i!U?HE>MC=AMA!CHL=AMA!MC!UA>IA!H?!lDL>;?!M>A!M?!U>UD?!LA=>X<=>?@!#EEA!BAEC`!XCUfAHM?!?!U>UD?` EC=<!C;^=CbAMA!^A=A!MCLC=;>HANO?!MA!)AEC!&H>U>AD!MA ^=gI>;A =CR>EO?@!
'A=A!S:C!EC!^?EEA!XADA=!MC!=C;:HC=ANO?!AMCS:AMA!M?!UA^>LAD! >HRCEL>M?`!AE!=CUC>LAE!LA=>X<=>AE`!U?HE>MC=AHM?!A!^=?dCNO?!MC!MC;AHMA!C!?E!RAD?=CE!MAE!LA=>XAE`!AE!MC;A>E!=CUC>LAE!CE^C=AMAE`!?E!>HRCEL>;CHL?E! C! ?E! U:EL?E! MCRC=O?! L?LAD>]A=! :;! XD:I?! MC! UA>IA! j! MCEU?HLAM?! ^CDA! ;CDf?=!CEL>;AL>RA!M?!U:EL?!MC!?^?=L:H>MAMC!M?!UA^>LAD!j!U:d?!RAD?=!^=CECHLC!DTS:>M?!ECdA!>b:AD!A!]C=?@!!
3CEEC! ;?M?`! =CE^C>LAHM?WEC! A! ;AL=>]! MC! =>EU?E! M?! U?HL=AL?`! A! UAMA! U>UD?! EO?! A^:=AMAE! AE!CI^CULAL>RAE!MC!CR?D:NO?!MA!MC;AHMA`!?E!U:EL?E!?^C=AU>?HA>E`!?!HTRCD!MC!EC=R>N?!MCECdAM?!C!AE!HCUCEE>MAMCE! MC! >HRCEL>;CHL?E! ^A=A! ALCHMnWD?Eo A! LA=>XA`! CHLO?` i! MCLC=;>HAMA! MC! ;?M?! A!bA=AHL>=!S:C!?E!>HRCEL>;CHL?E!CHU?HL=C;!A!=C;:HC=ANO?!AMCS:AMA!A!UAMA!U>UD?@!!
p!>;^?=LAHLC!H?LA=!S:C!CEEA!AB?=MAbC;!C;!E>!HO?!CR>LA!S:C!U?HUCEE>?H<=>A`!=Cb:DAM?=!C!^?MC=!U?HUCMCHLC! ^=?U:=C;! U?HRC=b>=! S:AHL?! h! ;CDf?=! CEL>;AL>RA! MAE! ^=>HU>^A>E! ^=C;>EEAE! M?!MCECHR?DR>;CHL?! MA! U?HUCEEO?`! ^=>HU>^AD;CHLC! H?! S:C! M>]! =CE^C>L?! A?! ALCHM>;CHL?! MA!MC;AHMA! C! h! MCU?==CHLC! HCUCEE>MAMC! MC! H?R?E! >HRCEL>;CHL?E@! /C! ?! M>;CHE>?HA;CHL?! MC!>HRCEL>;CHL?E!i! E:BCEL>;AM?`! U?;^=?;CLCWEC!A!S:AD>MAMC!M?E! EC=R>N?Eo! EC!i! E:^C=CEL>;AM?`!U?;^=?;CLCWEC!A!;?M>U>MAMC!LA=>X<=>A`!^?>E!H?R?E!>HRCEL>;CHL?E!H:;!U>UD?!>HLCb=A=O?!A!BAEC!MC!=C;:HC=ANO?!>H>U>AD!M?!^=gI>;?!U>UD?!LA=>X<=>?@!
*CEEADLAWEC!S:C!A!U?C=nHU>A!MCEEA!;CL?M?D?b>A!H?! LC;^?!CI>bC!S:C`!^?=!?UAE>O?!MA!^=gI>;A!=CR>EO?! LA=>X<=>A`! CRCHL:A>E! >HRCEL>;CHL?E! HO?! ^=CR>EL?E! f?dC! C! S:C`! ;CM>AHLC! A! ^=iR>A!U?HU?=MsHU>A!M?!^?MC=!^lBD>U?`!RCHfA;!A!EC=!=CAD>]AM?E`!MCRC=O?!EC=!AL:AD>]AM?E!^?=!THM>UC!MC!>HXDANO?! C! AM>U>?HAM?E! MA! LAIA! MC! MCEU?HL?! C;^=CbAMA! HA! A^:=ANO?! M?E! =CE:DLAM?E! MCEEA!=CR>EO?! LA=>X<=>A@! 3A!;CE;A! X?=;A`! UAE?! ADb:;! >HRCEL>;CHL?! ^=CR>EL?! HO?! ECdA! =CAD>]AM?`! ?:!LCHfA!E:A!=CAD>]ANO?!AHLCU>^AMA!?:!^?ELC=bAMA`!Ad:ELCE!EC;CDfAHLCE!^?MC=O?!EC=!XC>L?E@!#EECE!Ad:ELCE`! CHLO?`! ^?MC=O?! EC=! AM>U>?HAM?E! ?:! ABAL>M?E! MA! BAEC! MC! =C;:HC=ANO?! >H>U>AD! A! EC=!U?HEL=:TMA!C!U?HE>MC=AMA!HA!^=gI>;A!=CR>EO?!LA=>X<=>A@!/?D:NZCE!U?;?!CEEA!;>H>;>]A;!?E!=>EU?E!MC!^=CR>EO?!C!CXCL>RANO?!MC!>HRCEL>;CHL?E!X:L:=?E@!-!BAEC!MC!=C;:HC=ANO?!X>HAD!LC=<!:;!RAD?=!M>RC=E?!MAS:CDC!CEL>;AM?`!C;!X:HNO?!M?E!ECb:>HLCE!XAL?=CE(!!
�! 3CEbAELC!AU>;A!M?!CE^C=AM?o!!
�! &HRCEL>;CHL?E! C;! ;AH:LCHNO?! GA! EC=C;! =CU?HfCU>M?E! HA! BAECJ!M>RC=E?E!M?E!CE^C=AM?Eo!!
�! 'C=MAE! GS:C! ^?MC;! ?:! HO?! EC=! ECb:=<RC>E! C`! AEE>;`! bC=A=! ?:! HO?!M>=C>L?!A!=CCS:>DTB=>?Jo!!
�! &HRCEL>;CHL?E! HO?! ^=CR>EL?E! HCELC!;?;CHL?`!;AE! S:C! RCHfA;! A! EC=!HCUCEE<=>?Eo!!
�! +O?!=CAD>]ANO?!MC!>HRCEL>;CHL?E!^=CR>EL?Eo!C!
�! .?M>X>UANO?! M?E! >HRCEL>;CHL?E! A! EC=C;! =CAD>]AM?E! ?:! M?! LC;^?! C;!S:C!CEEC!EO?!=CAD>]AM?E!CLU@!
2?M?E!CEECE!CDC;CHL?E!MCRC=O?!EC=!U?HE>MC=AM?E!H?!^=gI>;?!U>UD?!LA=>X<=>?!C`!A!MC^CHMC=!M?!S:C! X?=! RC=>X>UAM?`! d:EL>X>UA=<! ?:! HO?! A! =CAD>]ANO?! M?E! Ad:ELCE! ?=A! U?b>LAM?E@! -! AMCS:AMA!MCX>H>NO?! MCEEAE! =Cb=AE! EC=<! CEECHU>AD! ^A=A! >HU?=^?=ANO?! MC! >HUCHL>R?E! AMCS:AM?E`! S:C!UC=LA;CHLC!U?HL=>B:>=>A;!^A=A!A!;CDf?=>A!MAE!U?HM>NZCE!M?E!EC=R>N?E@!
!
YF!!
FBA S,#*16*(
FBABC 0.N,=5'.(R,%*&.(
#ELC! UA^TL:D?! A^=CECHLA! A! ^=?dCNO?! MC! MC;AHMA! ^A=A! ?E! U>HU?! AH?E! M?! U>UD?! LA=>X<=>?!U?HE>MC=AM?`!U?HLCHM?(!
• 'C=X>D! MA! MC;AHMA`! C;! S:C! EO?! A^=CECHLAM?E! CDC;CHL?E! MA! MC;AHMA! ?BEC=RAMA!=CDCRAHLCE!^A=A!A!MCX>H>NO?!M?!HTRCD!MC!EC=R>N?!C!;?MCD?!?^C=AU>?HAD!A!EC=!AM?LAM?!H?!U>UD?!LA=>X<=>?o!!!
• '=?dCNO?!MA!MC;AHMA`!C;!S:C!EO?!A^=CECHLAM?E!?E!RAD?=CE!M?!AH?!BAEC!GYcQcJ`!A!LAIA!MC!U=CEU>;CHL?!^=CR>ELA!^A=A! U>UD?! LA=>X<=>?!C!?E! R?D:;CE!MC!^AEEAbC>=?E!C! RCTU:D?E! A! EC=C;!L=AHE^?=LAM?! M:=AHLC! UAMA! AH?! M?! U>UD?`! C;! LC=;?E! L?LA>E! C! ECb:HM?! AE! M>XC=CHLCE!UALCb?=>AE!U?==CE^?HMCHLCE!A!RAD?=CE!M>XC=CHU>AM?E!MC!LA=>XAE`!>HUD:E>RC!b=AL:>MAMCE@!
FBABA I,%@&-(6,(6,#*16*(
!
$:AHL?! A?E! $'$"3( $'( 5"6-5%&+'87"( $%( )'33'M%-#"3! C! RCTU:D?E`! CELCE! L>RC=A;! ^?=! BAEC! AE!>HX?=;ANZCE! X?=HCU>MAE! h! -7#*)-! ^CDA! U?HUCEE>?H<=>A`! U?;^=CCHMCHM?! MAM?E! ^?=! ^A=L>MA!=CAD>]AMA!^A=A!?!^C=T?M?!MC!QY!;CECE!MC!+?RC;B=?!MC!YcQc!A!,:L:B=?!MC!YcQQ!GM><=>?E!M?E!LC=;>HA>EJ@!#;!=CDANO?!A!CEECE!MAM?E`!UABC;!AE!ECb:>HLCE!?BEC=RANZCE(!!
• 0?=A;! X?=HCU>M?E! ^CDA! 2\)! h! -7#*)- C;! ^A^CD! C`! ^?ELC=>?=;CHLC` M>b>LAM?E ^CDA!^=g^=>A! U?HUCEE>?H<=>A`! ^?>E`! ECb:HM?! CELA`! HO?! CI>EL>A;! CEECE! =Cb>EL=?E! C;! ;C>?!M>b>LADYc@! /CHM?! ?E! lH>U?E! MAM?E! U?;! M>EU=>;>HANO?! MC! ^AEEAbC>=?E! C! RCTU:D?E! ^?=!R>AbC;eC;BA=UANO?`! >HM>UAHM?!LA;Bi;!?E!f?=<=>?E!MC!^A=L>MA`!^A=A!UAMA!M>A`! X?=A;!?E!:L>D>]AM?E!^A=A!AHAD>EA=!?!8#(3)$!MA!MC;AHMA@!#EECE!M>XC=C;WEC!M?E!MAM?E!:L>D>]AM?E!H?!Lg^>U?!ECb:>HLC`!S:C!EC!=CDAU>?HA;!A?E!L?LA>E!MC!^AEEAbC>=?E!^AbAHLCE`!b=AL:>MAMCE!C! RCTU:D?E! L=AHE^?=LAM?E! C! >HX?=;AM?E! M>A=>A;CHLC! ^CDA! 2\)! h! -7#*)-! H?! AH?! MC!YcQc! GC;B?=A! LCHfA;?E! =CUCB>M?E! ?E! L?LA>E! C! UAMA! ECHL>M?! ;CHEA>E`! H?E! X?=A;!;?EL=AMAE!CIC;^D?E!MC!^DAH>DfAE!M><=>AE!=CUCB>MAE!^CDA!-7#*)-!MA!2\)J@!!
• 6?:RC! ?U?==nHU>AE! MC! ^=CELANO?! >HAMCS:AMA! MC! EC=R>N?E! H?! ^C=T?M?! GUA^AU>MAMC!>HE:X>U>CHLC`! XADfAE! HAE! C;BA=UANZCE`! AL=AE?E! C! ?:L=AEJ`! ?! S:C! ^?MC! LC=! =C^=>;>M?! A!MC;AHMAo!!!
• -E!MALAE!C!f?=<=>?E!M?E!R?D:;CE!MC!^AEEAbC>=?E!C!RCTU:D?E! >HX?=;AM?E!U?==CE^?HMC;!hE!MC!C;BA=S:C`!C!HO?!hE!MC!UfCbAMA!A?!LC=;>HAD!GH?LAHM?WEC!S:C!f?:RC!?U?==nHU>AE!MC! X?=;ANO?! MC! X>DAE! MC! CE^C=A! U?HE>MC=<RC>E! C;! R<=>AE! ?UAE>ZCE! H?! ^C=T?M?!U?HE>MC=AM?J@!
!1?;! BAEC! H?E! MAM?E! =CXC=CHLCE! A?! ^C=T?M?! MC! QY! ;CECE! U>LAM?! G+?RWQc! A! ,:LWQQJ`!A^=CECHLA;WEC!A!ECb:>=!ADb:HE!=CE:DLAM?E!>HM>UAL>R?E!M?!^C=X>D!MA!MC;AHMA@!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Yc+?!X>HAD!MC!AB=>D!^@^@!=CUCBC;?E!MA!-7#*)-!:;A!^DAH>DfA!CDCL=VH>UA!S:C!DfC!X?=A!CHUA;>HfAMA!^CDA!2\)`!U?HLCHM?!MAM?E!MC!
L?LA>E!MC!C;BA=S:C!^?=!LC=;>HADeMALAeR>AbC;eL>^?!MC!:E:<=>?`!S:C!LC=>A!E>M?!CIL=ATMA!M?!E>ELC;A!MC!B>DfCLAbC;`!U?;!=CDANO?!A!YcQQ@!#;!ECLC;B=?`!U?HL:M?`! X?;?E! >HX?=;AM?E!S:C!?!E>ELC;A!MC!B>DfCLAbC;!HO?!EC=>A!UA^A]!MC!X?=HCUC=!CEECE!MAM?E`!;?L>R?!^CD?!S:AD!f?:RC!A!HCUCEE>MAMC!MC!M>b>LANO?!M?E!;CHU>?HAM?E!=Cb>EL=?E!C;!^A^CD@!
!
YK!!
,E!7=<X>U?E!Q!C!Y!;?EL=A;!A!M>EL=>B:>NO?!M?E!R?D:;CE!M><=>?E!M?E!^AEEAbC>=?E!C!RCTU:D?E!C;!UAMA!:;!M?E!ECHL>M?E!A?!D?Hb?!M?!^C=T?M?!MC!QY!;CECE!U?HE>MC=AM?@!!
e#4;-0"(l(B(A#'6%33-'(]7"(`"'J:-5Bg"5(,%3)'0="(Z(X"<:5%($-4#-"($%(%5>'#J:%3($%()'33'M%-#"3(Z(^"6%5>#"($%(p1l1('(\:+:>#"($%(p1ll(
(
e#4;-0"(p(B(A#'6%33-'(]7"(`"'J:-5Bg"5(,%3)'0="(Z(X"<:5%($-4#-"($%(%5>'#J:%3($%(6%O0:<"3(Z(^"6%5>#"($%(p1l1('(\:+:>#"($%(p1ll(
!!-E!^=>HU>^A>E!?BEC=RANZCE!S:AHL?!A?E!MAM?E!>HM>UAM?E!EO?(!!!
• 5?D:;C! MC! C;BA=S:CE! C;! )?;! 3CE^AUf?! E:^C=>?=! A?! MC! /O?! k?AS:>;! GQca! A!;A>E! MC!^AEEAbC>=?E! C! _a! A!;A>E! MC! RCTU:D?EJ`! ?! S:C! ^?MC! EC=! =CXDCI?! MA! X?=;A! MC! =Cb>EL=?E! MAE!!b=AL:>MAMCE! GA^CHAE! S:AHL?! A! ^AEEAbC>=?EJ`! :L>D>]ANO?! MC! EC=R>N?E! ADLC=HAL>R?E! GBA=UAE!1?;i=U>?W.A=!7=AHMC!^A=A!^AEEAbC>=?E!C!^C=U:=E?!=?M?R><=>?!A?!=CM?=!MA!)ATA!MC!2?M?E!?E! /AHL?E! ^A=A! RCTU:D?EJ! C;! ;A>?=! ^=?^?=NO?! ^A=A! A! >HLC=D>bANO?! MC! /ADRAM?=! ^A=A!&LA^A=>UA`!C;!U?;^A=ANO?!U?;!A!MC!ECHL>M?!?^?EL?`!?:!A!?:L=?E!XAL?=CEo!!
!
• .iM>A! MC! _`Y! ^AEEAbC>=?E! L=AHE^?=LAM?E! ^?=! RCTU:D?! G9@9c"! ;>D! ^AEEAbC>=?E! e! [PP! ;>D!RCTU:D?E!j!RC=!2ABCDA!YJ`!U?;!ADLA!U?==CDANO?!CHL=C!?E!M?>E!R?D:;CE!A?!D?Hb?!M?E!M>AE!GRC=!?E! b=<X>U?E! A^=CECHLAM?E! j! ?! RAD?=! M?! U?CX>U>CHLC! MC! U?==CDANO?! CHL=C! AE! M:AE! Ei=>CE! MC!RAD?=CE! i! >b:AD! A! c`_YJ@! +?LAWEC! S:C`! ^A=A! A! X=?LA! MC! ?>L?! C;BA=UANZCE! MCE>bHAMAE! A?E!EC=R>N?E`!A!=CDANO?!MC!UA^AU>MAMC!MC!^AEEAbC>=?E!C;!=CDANO?!h!MC!RCTU:D?E!i!MC!QQ`"!GF@ccc!^AEEAbC>=?E!e![""!RCTU:D?EJ@!'?=LAHL?`!i!^?EETRCD!U?HUD:>=!S:C!A!?XC=LA!MC!UA^AU>MAMC!i!;A>E!U=TL>UA!^A=A!RCTU:D?E!S:C!^A=A!^AEEAbC>=?Eo!!
!
• ,U?==nHU>A! MC! ^>U?E! ^=?H:HU>AM?E! MC! MC;AHMA! GU?;! R?D:;CE! UfCbAHM?! A! E:^C=A=! L=nE!RC]CE! A!;iM>A!M><=>A!M?!^C=T?M?J`! C;!^A=L>U:DA=! H?!;nE!MC! kAHC>=?! G^=>HU>^AD;CHLC!^A=A!RCTU:D?EJ`!1A=HARAD!GH?!UAE?`!H?!>HTU>?!MC!.A=N?!MC!YcQQJ`!'<EU?A!GH?!UAE?`!HA!Yu!S:>H]CHA!
0
5.000
10.000
15.000
20.000
25.000
São Joaquim passageiros Bom Despacho passageiros
0
500
1.000
1.500
2.000
2.500
3.000
São Joaquim veículos Bom Despacho veículos
!
Y_!!
MC!-B=>D!MC!YcQcJ`! /O?! k?O?! GX>HAD!MC! k:Hf?J`!3>A!MA! &HMC^CHMnHU>A! G>HTU>?!MC!/CLC;B=?J`!3>A! MC! +?EEA! /CHf?=A! MA! -^A=CU>MA! GX>HAD! MA! Qu! S:>H]CHA! MC! ,:L:B=?J! C! +ALAD! GX>HAD! MC!MC]C;B=?J@!!
3:=AHLC! ?! ^C=T?M?! U?HE>MC=AM?`! f?:RC! _c! M>AE! GYYa! M?E! M>AE! M?! AH?J! E?B! >HXD:nHU>A! MC!XC=>AM?YQ@!#EECE!M>AE!=CE^?HMC=A;!^?=!YPa!M?E!C;BA=S:CE!H?!^C=T?M?`!LAHL?!MC!^AEEAbC>=?E`!S:AHL?!MC!RCTU:D?E@!,!b=<X>U?!A! ECb:>=!;?EL=A!A!;iM>A!MC!R?D:;C!MC!C;BA=S:CE!MC!RCTU:D?E!ECb:HM?!M>AE!MA!EC;AHA!EC;!>HXD:nHU>A!MC!XC=>AM?!GH?=;A>EJ!C!E?B!>HXD:nHU>A!MC!XC=>AM?@!(
e#4;-0"(j(B(A#'6%33-'(]7"(`"'J:-5Bg"5(,%3)'0="(Z(X"<:5%($-4#-"(5?$-"($%(%5>'#J:%3($%(6%O0:<"3(3%M:&$"($-'3($'(3%5'&'(&"#5'-3(%(3">(-&;<:R&0-'($%(;%#-'$"(Z(^"6%5>#"($%(p1l1('(\:+:>#"($%(p1ll(
!!-!^A=L>=!MA!;iM>A!MC!R?D:;C!MC!C;BA=S:CE!MC!RCTU:D?E!ECb:HM?!M>AE!MA!EC;AHA!GU?;!C!EC;!>HXD:nHU>A!MC!XC=>AM?EJ`!U?HUD:>WEC(!!
• 5?D:;CE! ;A>E! ADL?E! H?E! M>AE! E?B! >HXD:nHU>A! MC! XC=>AM?`! ^=>HU>^AD;CHLC! H?! >HTU>?! MA!EC;AHA!C;!)?;!3CE^AUf?!C!X>HAD!MA!EC;AHA!C;!/O?!k?AS:>;o!!!
• 5?D:;C! ;iM>?! ;A>?=! HA! ECb:HMAWXC>=A! C! HA! ECILAWXC>=A! MC! M>AE! H?=;A>E! C;!U?;^A=ANO?!U?;!?E!MC!LC=NAWXC>=A!A!S:>HLAWXC>=A@!!
!,! b=<X>U?! A! ECb:>=! ;?EL=A! A! M>EL=>B:>NO?! M?! R?D:;C! M><=>?! MC! RCTU:D?E! H?! ECHL>M?! ;A>E!UA==CbAM?!G=CDCRAHLC!^A=A!?!M>;CHE>?HA;CHL?!?^C=AU>?HADJ!M?!;A>?=!^A=A!?!;CH?=!A?! D?Hb?!M?E!QY!;CECE!U?HECU:L>R?E!U?HE>MC=AM?E!G>HM>UAM?!U?;?!^C=UCHL:AD!M?E!"F[!M>AE!CHR?DR>M?EJ@!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!YQ!1?HE>MC=A;WEC!M>AE!E?B!>HXD:nHU>A!MC!XC=>AM?!AS:CDCE!C;!S:C!f?:RC!XC=>AM?!H?!^=g^=>?!M>A`!H?!M>A!AHLC=>?=!?:!H?!M>A!ECb:>HLC`!
>HUD:>HM?!?!;nE!MC!kAHC>=?!>HLC>=?!C!A!ECb:HMA!S:>H]CHA!MC!3C]C;B=?@!
!"
#!!"
$!!"
%!!"
&!!"
'(!!!"
'(#!!"
'($!!"
'(%!!"
'(&!!"
)*+ ,*- ./0 ./1 )*2 )34 567
810)"96-701)":;6"<60./17 810)"96-701)"=67"8*)>0?@6
810)")64"19AB/C9?10"5*"A*-1056":;6"<60./17 810)")64"19AB/C9?10"5*"A*-1056"=67"8*)>0?@6
!
YP!!
e#4;-0"(Y(B(A#'6%33-'(]7"(`"'J:-5Bg"5(,%3)'0="(Z(X"<:5%(="#4#-"($%(%5>'#J:%3($%(6%O0:<"3(%5("#$%5($%0#%30%&+%3(Z(^"6%5>#"($%(p1l1('(\:+:>#"($%(p1ll(
(!
-!^A=L>=!M?E!MAM?E!E?B=C!A!M>EL=>B:>NO?!M?!R?D:;C!M><=>?!MC!RCTU:D?E`!RC=>X>UAWEC!S:C!?!R?D:;C!M><=>?!MC!C;BA=S:C!MC!^AEEAbC>=?E!C! RCTU:D?E!H?! ECHL>M?!;A>E! UA==CbAM?!MCUA>! =A^>MA;CHLC!C;!M>AE!H?=;A>E!G;<I>;?!MC!Q_`F!;>D!^AEEAbC>=?E!C!Y`Q!;>D!RCTU:D?E`!U?HL=A!P[a!M?E!M>AE!U?;!R?D:;C!>b:AD!?:!;CH?=!S:C!Qc`c!;>D!^AEEAbC>=?E!C!Q`9!;>D!RCTU:D?EJ@!'A=A!M>AE!E?B!>HXD:nHU>A!MC!XC=>AM?`!?!MCUA>;CHL?!i!;A>E!b=AM:AD(!;<I>;?!MC!Yc`[!;>D!^AEEAbC>=?E!C!Y`[!;>D!RCTU:D?E`!AHLC!P[a!M?E!M>AE!U?;!R?D:;C!>b:AD!?:!;CH?=!S:C!QK`Q!;>D!^AEEAbC>=?E!C!Y`Q!;>D!RCTU:D?E@!!
-!ECb:>=`!i!A^=CECHLAM?!b=<X>U?!;?EL=AHM?!RAD?=CE!MC!R?D:;C!f?=<=>?!MC!C;BA=S:C!MC!RCTU:D?E!ECb:HM?!M>AE!MA!EC;AHA!H?=;A>E!C!E?B!>HXD:nHU>A!MC!XC=>AM?!GRAD?=CE!A^:=AM?E!^A=A!>HLC=RAD?E!MC!"!f?=AE!A!^A=L>=!MAE!cc(ccfJ(!!
-
500
1.000
1.500
2.000
2.500
3.000
-
5.000
10.000
15.000
20.000
25.000
100%
95%
90%
85%
80%
75%
70%
65%
60%
55%
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
veículos
passageiros
Dias sob inf luëncia de feriado passageiros Dias normais passageiros
Dias sob inf luëncia de feriado veículos Dias normais veículos
!
"c!!
e#4;-0"(2(B A#'6%33-'(]7"(`"'J:-5Bg"5(,%3)'0=" Z X"<:5%(="#4#-"(5?$-"($%(%5>'#J:%3($%(6%O0:<"3(3%M:&$"($-'3($'(3%5'&'(3%5(-&;<:R&0-'($%(;%#-'$"(Z(^"6%5>#"($%(p1l1('(\:+:>#"($%(p1ll(
!
(
e#4;-0"(2(B(A#'6%33-'(]7"(`"'J:-5Bg"5(,%3)'0="(Z(X"<:5%(="#4#-"(5?$-"($%(%5>'#J:%3($%(6%O0:<"3(3%M:&$"($-'3($'(3%5'&'(3">(-&;<:R&0-'($%(;%#-'$"(Z ^"6%5>#"($%(p1l1('(\:+:>#"($%(p1ll
!!,E!MAM?E!E?B=C!?!R?D:;C!f?=<=>?!MC!C;BA=S:C!MC!RCTU:D?E!GECb:HM?!M>AE!MA!EC;AHA!H?=;A>E!C!E?B! >HXD:nHU>A!MC! XC=>AM?J! =CRCDA;!S:C!?!R?D:;C!f?=<=>?!i! =A]?ARCD;CHLC!=Cb:DA=!MC!"u!A
!
"Q!!
FBABE I%'T,78'(6,(6,#*16*((
-!^=?dCNO?!MA!MC;AHMA!A^=CECHLAMA!A!ECb:>=!U?HLC;^DA(!
• A!MC;AHMA!H?!AH?!AM?LAM?!U?;?!BAEC!GYcQcJo!
• A!LAIA!MC!U=CEU>;CHL?!^=CR>ELA!^A=A!U>UD?!LA=>X<=>?o!
• ?E!R?D:;CE!MC!^AEEAbC>=?E!C!RCTU:D?E!A!EC=C;!L=AHE^?=LAM?!M:=AHLC!UAMA!AH?!M?!U>UD?`!C;!LC=;?E!L?LA>E!C!ECb:HM?!AE!M>XC=CHLCE!UALCb?=>AE!U?==CE^?HMCHLCE!A!RAD?=CE!M>XC=CHU>AM?E!MC!LA=>XAE`!>HUD:E>RC!b=AL:>MAMCE@!
9#1%/+%!/*!%/*!:%,#!
,!AH?!BAEC!AM?LAM?!^A=A!A!=CR>EO?!i!YcQc`!^CD?E!ECb:>HLCE!;?L>R?E(!
AJ ?!U>UD?!MA!=CR>EO?!LA=>X<=>A!C;!M>EU:EEO?!EC!>H>U>A!C;!YcQQ!GX>HAD!MC!0CRC=C>=?J`!=A]O?!^CDA!S:AD! A! BAEC! MC! ^A=L>MA! MCRC! EC=`! ^?=! E:^?EL?`! ?! AH?! AHLC=>?=! GYcQcJo! H?LAWEC! S:C! LAD! EC!A^D>U?:!>b:AD;CHLC!^A=A!RAD?=CE!MC!U:EL?Eo!!!
BJ ?!=>EU?!MC!MC;AHMA!M:=AHLC!?!U>UD?!U?BC=L?!^CDA!=CR>EO?!LA=>X<=>A!C;!U:=E?!i!UDA=A;CHLC!MA!U?HUCEE>?H<=>A`!U?;?!CEUDA=CU>M?!H?!UA^TL:D?!Y`!;?L>R?!^CD?!S:AD!HO?!UABC=>A!AM?LA=!U?;?!BAEC!^A=A!?!U>UD?!RAD?=CE!MC!MC;AHMA!d<!?U?==>M?E!M:=AHLC!E:A!R>bnHU>A@!
-! MC;AHMA! H?! AH?! BAEC! X?>! S:AHL>X>UAMA! U?HX?=;C! MAM?E! X?=HCU>M?E! ^CDA! -7#*)-! GS:C!U?HE?D>MA! MAM?E! M><=>?E! =CUCB>M?E! MA! 2\)J`! C;! BAEC!;CHEAD! ^A=A! ?! AH?! MC! YcQc`! ECb:HM?!M>RC=EAE! UALCb?=>AE! MC! :E:<=>?E@! ,E! RAD?=CE! U?==CE^?HMCHLCE! EO?! A^=CECHLAM?E! HA! LABCDA! A!ECb:>=!MC!X?=;A!Ab=CbAMA!C!;A>E!^?=;CH?=>]AMA;CHLC!HAE!2ABCDAE!Q!A!"!M?!-HCI?@!
!
A'>%<'(g(B(,%5'&$'(&"('&"(>'3%(Lp1l1P(
!"#$%&'%()(*+"$ ,'-./&.%'-%0121
3.)).4'"+$)%5%!$6.7 89:1;9:1<
!"#"$%& '()*+(',+
-."%/01"1& 2'3(,,*
='>?(7$)%5%!$6.7 @0A9B@A
!&4/&$5 *+'(6,6
-."$1& 73(+*3
85%5 63(,,)!
!
-!U?HUCEE>?H<=>A!ADCbA!S:C!A!MC;AHMA!M>E^?H>B>D>]AMA!h!0&'#1-0&!^CDA!-7#*)-!j!CHLO?`!U?;!=CDANO?!A!YcQQYY!j!A^=CECHLARA!RAD?=CE!;A>?=CE!S:C!?E!E:^?ELA;CHLC!U?==CL?E`!U>=U:HELsHU>A!S:C!H?E!X?=NA!A!LCUC=!ADb:;AE!U?HE>MC=ANZCE(
• -! 2\)! >HX?=;A! RAD?=CE! M>RC=bCHLCE! S:AHL?! h! S:AHL>MAMC! MC! ^AEEAbC>=?E! C! RCTU:D?E!ALCHM>M?E@!1?;?!CIC;^D?E`!U>LA;?E!AE!M>EU=C^sHU>AE!CHL=C!RAD?=CE!=CXC=CHLCE!A!YcQQ!^=?RCH>CHLCE! M?E! M><=>?E! MC! LC=;>HA>E! C! ?E! Ab?=A! A^=CECHLAM?E! GE:^?ELA;CHLC!^=?RCH>CHLCE!MC! tE>ELC;AEt!S:C!A! 2\)!Ab?=A! ADCbA! EC=! UA^A]!MC!^=?RnWD?E`!;AE!S:C!dA;A>E! fAR>A;! E>M?! E:B;CL>M?E! h! -7#*)-J@! +?LAWEC! S:C! ;AH>XCELANO?! A^=CECHLAMA!^CDA! 2\)! S:AHL?! A! :;! MC! H?EE?E! =CDALg=>?E! AHLC=>?=CE! S:CEL>?H?:! ALi! ;CE;?! ?E!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!YY!6?dC`!^CDAE!=A]ZCE!d<!CI^?ELAE`!CELA;?E!A!:L>D>]A=!A!MC;AHMA!MC!YcQc!U?;?!BAEC!MA!^=?dCNO?!MA!MC;AHMA@!
!
"Y!!
MAM?E! S:C! HO?! fARTA;?E! :L>D>]AM?! U?;?! BAEC! MC! MC;AHMA! j! ;AE! A^CHAE! ^A=A! A!>MCHL>X>UANO?! M?! ^C=X>D! MC! MC;AHMA`! U?;?! R>EL?! H?! Lg^>U?! AHLC=>?=! j`! U?;?! ^?=!CIC;^D?! ?! ECb:>HLC! L=CUf?(! tCEUDA=CUC;?E! S:C! ?! =CDALg=>?! MCE>bHAM?! �M><=>?! MC!LC=;>HAD�`! i! :;! U?HL=?DC!;AH:AD! XC>L?! ^A=A! ?! AU?;^AHfA;CHL?! ?^C=AU>?HAD! >HL=AM>A!M?! E>ELC;A`! D?LANO?! MAE! C;BA=UANZCE`! AU?;^AHfA;CHL?! MC! b=AMC`! MCHL=C! ?:L=?E@!,!U?HL=?DC! MAE! ^AEEAbCHE! C;>L>MAE`! M?E! ^AEEAbC>=?E! C! RCTU:D?E! CXCL>RA;CHLC!L=AHE^?=LAM?E!M<WEC!^CD?!E>ELC;A!/&)#W/&/5#.r@!
• #;B?=A!HO?!ECdA;!?E!/%?$%&0"/'"-'$)%8!%0!AE!?=>bCHE!MA!BAEC!M?E!MAM?E!MA!-7#*)-!j!;AE! E>;! L?LA>E! M><=>?E! X?=HCU>M?E! ^CDA! ^=g^=>A! 2\)! h! -7#*)-! j`! A! 2\)! HO?! ^C=MC!LC;^?!C;!^CM>=!S:C!CEECE!/%?$%&0"/'"-'$)%8!*!ECdA;!MCEU?HE>MC=AM?E@!1?;?!E?D:NO?`!A!U?HUCEE>?H<=>A!^DC>LC>A!S:C!ECdA!MAMA!U?HX>AHNA!A!RAD?=CE!MC!R?D:;CE!MC!^AEEAbC>=?E!C!RCTU:D?E! ;CH?=CE`! S:C! E:^?ELA;CHLC! U?==CE^?HMC=>A;! ! A?E! q^AEEAbC>=?E! C! RCTU:D?E!CXCL>RA;CHLC! L=AHE^?=LAM?Et`! S:C! MC! q/>ELC;Ar! S:C`! f<! ADb:HE! ;CECE`! X?=AWH?E!>HX?=;AM?E!U?;?!ECHM?!>HUA^A]!MC!^=?RC=!?E!;CE;?E!MAM?EY"@!!
• /Cb:HM?! A! -7#*)-`! M>A=>A;CHLC`! A! ^=g^=>A! 2\)! X?=HCUC! ?E! MAM?E! MC! :L>D>]ANO?! M?!E>ELC;A@! #EECE! MAM?E`! L?LAD>]AM?E`! ADUAHNA=A;! RAD?=CE! ^=gI>;?E! A! 9`_F! ;>DfZCE! MC!^AEEAbC>=?E!^AbAHLCE!C!c`[9!;>DfO?!MC!b=AL:>MAMCE@!#EECE!EO?E!?E!Hl;C=?E!BAEC!S:C!CELA;?E! A! U?HE>MC=A=`! ^A=A! YcQc@! #EECE! Hl;C=?E! EO?! ;A>E! ^=gI>;?E! MAS:CDCE!A^=CECHLAM?E! H?! ^DC>L?! MC! =CCS:>DTB=>?! MA! 2\)! M?! S:C! AS:CDCE! S:C! Ab?=A! EO?!>HX?=;AM?E!^CDA!C;^=CEA!Gb=<X>U?!Q`!^@!QQJ@!
• -! ADCbANO?! MC! S:C! ?E! MAM?E! S:C! :L>D>]A;?E! U?;?! ^AEEAbC>=?E! ^AbAHLCE! >HUD:>=>A;!b=AL:>MAMCE!C!;?L?=>ELAE!HO?!H?E!^A=CUC!U?HR>HUCHLC`!^?=!ADb:;AE!=A]ZCE(!G&J!?E!MAM?E!S:C! H?E! X?=A;! A^=CECHLAM?E! ^CDA! -7#*)-! >HM>UA;`! EC^A=AMA;CHLC`! ^AEEAbC>=?E!^AbAHLCE`!b=AL:>MAMCE`!RCTU:D?E!CLU@o!G&&J!S:AHM?!>HMAbAM?E!E?B=C!A!X?HLC!M?E!MAM?E`!?E!LiUH>U?E! MA! -bnHU>A! H?E! ;?EL=A=A;! AE! ^DAH>DfAE! U?==CE^?HMCHLCE! S:C! >HM>UARA;`! A!UALCb?=>A! q^AEEAbC>=?E! ^AbAHLCEr! MA! ^DAH>DfA! MA! -7#*)-! MCU?==C! MC! UALCb?=>A!>HL>L:DAMA! q^CMCEL=CE! U?HRCHU>?HA>Er! H?E! MAM?E! X?=HCU>M?E! ^CDA! 2\)`! ECHM?! M>XTU>D!E:^?=! S:C! q^CMCEL=CE! U?HRCHU>?HA>Er! ^?EEA >HUD:>= ;?L?=>ELAEo! G&&&J! S:AHM?! UfA;AM?!^A=A! A! =C:H>O?`! ?! =CE^?HE<RCD! ^CD?! X?=HCU>;CHL?! MCEEAE! >HX?=;ANZCE! HA! 2\)Y9`! HA!^=CECHNA! MC! S:AL=?! EC=R>M?=CE! ^lBD>U?E`! X?>! UALCbg=>U?! C;! AX>=;A=! S:C! ?! E>ELC;A!MC!B>DfCLAbC;!>HX?=;ARA!A^CHAE!?E!^CMCEL=CE!C!HO?!?E!;?L?=>ELAEo! >HX?=;?:!A>HMA`!S:C!AE!b=AL:>MAMCE!LA;Bi;!C=A;!U?HL=?DAMAE!^?=!;C>?E!h!^A=LC!C!HO?!C=A;!=Cb>EL=AMAE!H?!E>ELC;A!MC!B>DfCLAbC;@!!
'?=!=A]ZCE!E>;>DA=CE!A!CEEAE`!X?=;AD>]A;?E!MCEMC!H?EE?!^=>;C>=?!=CDALg=>?!S:C(!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Y"!,!^=>;C>=?!U?Hd:HL?!MC!>HX?=;ANZCE!S:C!E?D>U>LA;?E!EC!=CXC=>A!A!;?R>;CHLANO?!MC!^AEEAbC>=?E!C!RCTU:D?E!^?=!^A=L>MAE`!M>AE!C!
f?=<=>?E`!AE!S:A>E!HO?!H?E!X?=A;!^AEEAMAE`!E?B!?!A=b:;CHL?!MC!S:C!CEEAE!>HX?=;ANZCE!HO?!CI>EL>A;!MC!X?=;A!M>b>LAD>]AMA@!Y9!p!XAL?!S:C!A^gE!ADb:;A!=CE>ELnHU>A!MA!C;^=CEA!S:AHL?!h!M>EU:EEO?!M?!LC;A@!
!
""!!
q3A!AH<D>EC!M?E!M?U:;CHL?E!=CUCB>M?E!^CDA!-7#*)-`!BC;!U?;?!HA!M>D>bnHU>A!=CAD>]AMA!C;! Y9ecPeYcQQ`! ^?MCWEC! RC=>X>UA=! S:C(! G&J! A! C;^=CEA! HO?! ^?EE:>! :;A! <=CA! MC!U?HL=?DAM?=>Ao!G&&J!HO?!^?EE:>!A:M>L?=>A!>HLC=HAo!G&&&J!A!A:M>L?=>A!CILC=HA!A^CHAE!CIA;>HA!?E!BADAHN?E!C!HO?!C;>LC! =CDALg=>?E!MC!U?HL=?DCE! >HLC=H?E@!-=b:>M?!E?B=C!;CUAH>E;?E!MC! U?HL=?DC! MA! A==CUAMANO?`! ?! =CE^?HE<RCD! ^CDA! <=CA! AM;>H>EL=AL>RA! AX>=;?:! S:C! ?!U?HL=?DA!D>;>LAWEC!A!Us;C=AE!MC!X>D;AbCHE!>HELADAMAE!H?E!UA>IAE!C!MC;A>E!>HELADANZCE@r!!
q,!A;B>CHLC!MC!U?HL=?DCE!i!ABE?D:LA;CHLC!^=CU<=>?`!C!HO?!i!E:X>U>CHLC`!A!H?EE?!RC=`!A!bA=AHL>=!S:C!AE!MC;?HEL=ANZCE!X>HAHUC>=AE!C!MC;A>E!>HX?=;ANZCE!X?=HCU>MAE!h!-7#*)-!ECdA;!U?HX><RC>E@r!
#EEAE! U?HE>MC=ANZCE! MC! H?EE?! =CDALg=>?! MC! M>AbHgEL>U?E! HO?! X?=A;! U?HLCELAMAE! C;!S:ADS:C=!;?;CHL?@!
!
;(#,.)1#/&*!+%!+#1%/+%!+-(%/&#!*!.).$*!&%()37()*!
!,!U=CEU>;CHL?!MA!MC;AHMA!^=CR>EL?!^A=A!?!U>UD?!LA=>X<=>?!i!MC!Fa!A?!AH?`!LCHM?!^?=!BAEC!?!S:C!ECb:C(!!
• CELA! LAIA! i! A! ^=CR>ELA! ^CDA! 1?HUCEE>?H<=>A! HAE! >HX?=;ANZCE! CHR>AMAE! U?;?! ^=?^?ELA! MC!=CR>EO?!?=M>H<=>Ao!!
• LAD!U=CEU>;CHL?!EC!;?EL=A!U?;^ALTRCD!U?;!AE!CI^CULAL>RAE!MC!U=CEU>;CHL?!MC!=CHMA!G'&)J`!MA! X=?LA! MC! RCTU:D?E! C! M?! U?HE:;?! MC! U?;B:ELTRC>E! A:L?;?L>R?E! H?! CELAM?! MA! )Af>A!G*Cb>O?!.CL=?^?D>LAHA!MC!/ADRAM?=!C!=Cb>ZCE!MA!U?ELA!E:D!M?!CELAM?!j!*CUVHUAR?`!1?ELA!M?!3CHMn`!1?ELA!M?!1AUA:!C!1?ELA!M?!3CEU?B=>;CHL?J!A!^A=L>=!MA!CR?D:NO?!=CUCHLC!?BEC=RAMA`!;?EL=AMA!HA!LABCDA!A!ECb:>=(!!
A'>%<'(!(B(g#'3-<(%(_3+'$"($'(g'=-'(B(U&$-0'$"#%3(3%<%0-"&'$"3(B(A'@'(5?$-'($%(0#%30-5%&+"('&:'<(p11jBp11s(
!"#$%&#'( )&*&+,-#$&+
#.+
%(./%$,."0'+
&"1&2+34456
!"#$%&%#'()*+ ,-./
!"#$%&%0)1(23%2(%#(4*(%5#67 ,-8/
!"#$%&%9:;*<3%=:1'3>3+*1(?(%2:%@(+A(23'%59=@7 ,-B/
!"#$%&%=C?*DE>E3)%2:%"1(>('*D(%:%F:'(%G'CH ,-./
!"#$%&%=:)3'':;*<3%@C+%#(*(?3% ,-I/
J'31(%(C13)%&%0)1(23%2(%#(4*( K-./
J'31(%(C13)%&%9:;*<3%=:1'3>3+*1(?(%2:%@(+A(23' L.-M/
J'31(%(C13)%&%=C?*DE>*3)%2:%"1(>('*D(%:%F:'(%G'CH LN-./
J'31(%(C13)%&%=:)3'':;*<3%@C+%#(*(?3 K-K/
F:?2(%2:%D3OPC)1EA:+%(C13O31*A3$$%&%0)1(23%2(%#(4*( 8-Q/
5$7%!"#%:O%A(+3'%O3?:1R'*3%D3?)1(?1:
5$$7%S()3+*?(%G%T%B-M%U%:1(?3+%4*2'(1(23%5;()3+*?(%:VC*A(+:?1:7
J3?1:)W%"#S0-%X0Y6Z96Y%:%6Y!
9#1%/+%!8(*<#&%+%!8%(%!*!.).$*!&%()37()*!
2CHM?!^?=!BAEC!A!MC;AHMA!H?!AH?!BAEC!C!A!LAIA!MC!U=CEU>;CHL?!A^=CECHLAMAE`!X?>!UADU:DAMA!A!^=?dCNO?!MC!MC;AHMA!^A=A! UAMA!:;!M?E! AH?E!M?! U>UD?! LA=>X<=>?`! U?;?!;?EL=AMA!HA! LABCDA! A!
!
"9!!
ECb:>=!G?E!RAD?=CE!A^=CECHLAM?E!CELO?!Ad:ELAM?E!C;!X:HNO?!MC!S:C!UAMA!AH?!M?!U>UD?!LA=>X<=>?!>H>U>AWEC!C;!Y"!MC!XCRC=C>=?!C!EC!CHUC==A!C;!YY!MC!XCRC=C>=?!ECb:>HLCJ@!
A'>%<'(,(B(,%5'&$'('&:'<()#"*%+'$'()'#'("(0-0<"(+'#-;4#-"(B(.'33'M%-#"3()'M'&+%3(%(6%O0:<"3(
( .'33'M%-#"3()'M'&+%3(
X%O0:<"3(L%@0%+"(5"+"3P(
C"+"3(
/&"(l( [@YYP@KP_! Kc[@["Y! KF@"K"!
/&"(p( [@[9"@[_F! K9K@_F9! _c@P[F!
/&"(j( [@_KF@YcQ! KPY@K"F! _[@_Q"!
/&"(Y( F@YY_@KK"! _9c@"cc! Pc@PFY!
/&"(2( F@FcY@9PP! _Pc@KQ_! PF@9QP!
!
,E!MAM?E!MA!^=?dCNO?!MC!MC;AHMA!EO?!A^=CECHLAM?E!;A>E!^?=;CH?=>]AMA;CHLC!HAE!2ABCDAE!"!A!F!M?!-HCI?@!
FBE U<:,-(6,(.,%:&7'(
#ELA! ECNO?! A^=CECHLA! ?E! ^=>HU>^A>E! AE^CUL?E! M?! ;?MCD?! ?^C=AU>?HAD! MCECHR?DR>M?! ^A=A! A!L=ARCEE>A`! U?;! MCELAS:C! ^A=A! A! ^=?^?ELA! S:AHL?! h! ?XC=LA! MC! ^A=L>MAE`! h! UA^AU>MAMC! MC!L=AHE^?=LC!MC!^AEEAbC>=?E!C!MC!RCTU:D?E!C!h!S:AHL>MAMC!MC!C;BA=UANZCE!A!EC=C;!;?B>D>]AMAE@!
0?=A;!CELABCDCU>M?E!M?>E!H?R?E!^AM=ZCE!MC!EC=R>N?!A!EC=C;!?XC=CU>M?E!A?E!:E:<=>?E!A?!D?Hb?!M?! U>UD?! LA=>X<=>?`! ECHM?! :;! ^=>;C>=?! MCH?;>HAM?! tL=AHE>NO?t! C`! ?! ECb:HM?`! tMCX>H>L>R?t`!A;B?E!U?;!:;A!?XC=LA!;A>?=!S:C!A!AL:AD`!S:C!^C=;>L>=<`!>HUD:E>RC`!:;!;CDf?=!ALCHM>;CHL?!MC!RCTU:D?E! ^CEAM?E@! -! ^=?^?E>NO?! MC! :;A! CLA^A! MC! L=AHE>NO?! d:EL>X>UAWEC! ^CDA! ^=CUA=>CMAMC! M?!CELAM?!MC! X:HU>?HA;CHL?! e!M>E^?H>B>D>MAMC!MAE!C;BA=UANZCE!C!MA!bCELO?!C! U?HL=?DC!MC! E:AE!?^C=ANZCE`!U>=U:HELsHU>AE!S:C!HO?!^C=;>L>=>A;!S:C!X?EEC!?XC=CU>M?!?!^AM=O?!MCX>H>L>R?!A!U:=L?!^=A]?@!
,E!M?>E!^AM=ZCE!MC!?XC=LA!^=CR>EL?E!U?HE>MC=A;!M>XC=CHU>ANO?!MC!S:AHL>MAMC!MC!^A=L>MAE!C;!M>AE! EC;! >HXD:nHU>A! MC! XC=>AM?! C! E?B! >HXD:nHU>A! MC! XC=>AM?`! ECHM?! S:C! CEECE! lDL>;?E!U?;^=CCHMC;(!
• ?!^C=T?M?!MC!;CAM?E!MC!MC]C;B=?!ALi!?!X>HAD!MC!dAHC>=?`!>HLCb=AD;CHLCo!
• ?!lDL>;?!M>A!lL>D!AHLCE!MC!XC=>AM?!^=?D?HbAM?o!
• ?!^=>;C>=?!M>A!MC!XC=>AM?!^=?D?HbAM?o!
• ?!!lDL>;?!M>A!MC!XC=>AM?!^=?D?HbAM?o!
• ?!^=>;C>=?!M>A!lL>D!A^gE!XC=>AM?!^=?D?HbAM?@!!!
-! S:AHL>MAMC! MC! M>AE! E?B! >HXD:nHU>A! MC! XC=>AM?! ^?=! AH?! RA=>A! U?HX?=;C! A! M>EL=>B:>NO?! M?E!XC=>AM?E`! ECHM?! S:C`! H?E! U>HU?! AH?E! M?! U>UD?! U?BC=L?! LA=>X<=>?! AS:>! C;!M>EU:EEO?! W! MC! Y"! MC!0CRC=C>=?!MC!YcQQ!A!YY!MC!0CRC=C>=?!MC!YcQF`!=C^>LAWEC!W!LA>E!M>AE!EC!A^=CECHLA;!C;!;TH>;?!MC!FF!GH?!^=>;C>=?!AH?J`!;<I>;?!MC!P"!GH?!ECb:HM?!AH?J!C!;iM>A!MC!KP!H?E!U>HU?!AH?E@!
,!^AM=O?!MC!EC=R>N?E!MC!L=AHE>NO?!^=CR>EL?!U?;^=CCHMC(!
AJ 9Y!^A=L>MAE!M><=>AE!GYQ!C;!UAMA!ECHL>M?J`!M:=AHLC!f?=<=>?!MC!X:HU>?HA;CHL?!MC!UC=UA!MC!Q_!f?=AE!C;!M>AE!EC;!>HXD:nHU>A!MC!XC=>AM?`!ECHM?(!
!
"[!!
• "_!^A=L>MAE!M><=>AE!^=?b=A;AMAE!GQP!C;!UAMA!ECHL>M?`!:;A!A!UAMA!f?=AJ`!
• ;iM>A!MC!;A>E!9!^A=L>MAE!HO?!^=?b=A;AMAE!^?=!M>A!GY!C;!UAMA!ECHL>M?J!Y[o!!!
BJ K9!^A=L>MAE!M><=>AE! G"K!C;!UAMA!ECHL>M?`!M:=AHLC!f?=<=>?!MC! X:HU>?HA;CHL?!MC!Y9!f?=AE`!^?=LAHL?!=CE:DLAHM?!>HLC=RAD?!CHL=C!^A=L>MAE!MC!UAMA!LC=;>HAD!MC!UC=UA!MC!9c!;>H:L?EJ!C;!M>AE!E?B!>HXD:nHU>A!MC!XC=>AM?`!ECHM?(!
• 9_!^A=L>MAE!M><=>AE!^=?b=A;AMAE!GY9!C;!UAMA!ECHL>M?`!:;A!A!UAMA!;C>A!f?=AJo!
• ;iM>A!MC!;A>E!YF!^A=L>MAE!HO?!^=?b=A;AMAE!^?=!M>A!GQ"!C;!UAMA!ECHL>M?J@!
-E!^A=L>MAE!HO?!^=?b=A;AE!AU>;A! >HM>UAMAE!R>EA;!A!ALCHMC=!^>U?E!CIUC^U>?HA>E!MC!MC;AHMA`!CRCHL:AD! HO?! =CAD>]ANO?! MC! ^A=L>MAE! ^=?b=A;AMAE! C! ALCHM>;CHL?! MC! RCTU:D?E! ^CEAM?E@! -!-7#*)-!MCRC=<!MCX>H>=!U?;!A!U?HUCEE>?H<=>A!?E!^=?UCM>;CHL?E!^A=A!AU>?HA;CHL?!C!=CAD>]ANO?!MC!LA>E!^A=L>MAE@!
,!^C=T?M?!^=CR>EL?!^A=A!A!R>bnHU>A!M?!^AM=O?!MC!L=AHE>NO?!MCX>H>M?!i!MC!QY!;CECE`!CHL=C!Qm!MC!ECLC;B=?!MC!YcQY!A!"Q!MC!Ab?EL?!MC!YcQ"@!!
,!^AM=O?!MC!EC=R>N?E!MCX>H>L>R?`!A!R>b?=A=!A!^A=L>=!MC!Qm!MC!ECLC;B=?!MC!YcQ"`!U?;^=CCHMC(
AJ K9!^A=L>MAE!^=?b=A;AMAE!M><=>AE!G"K!C;!UAMA!ECHL>M?`!M:=AHLC!f?=<=>?!MC!X:HU>?HA;CHL?!MC!UC=UA!MC!Q_!f?=AE`!^?=LAHL?!=CE:DLAHM?!>HLC=RAD?!;iM>?!CHL=C!^A=L>MAE!MC!UAMA!LC=;>HAD!MC!UC=UA!MC!"c!;>H:L?EJ!C;!M>AE!EC;!>HXD:nHU>A!MC!XC=>AM?Eo!!
BJ PF!^A=L>MAE!M><=>AE!^=?b=A;AMAE!G9_!C;!UAMA!ECHL>M?`!M:=AHLC!f?=<=>?!MC!X:HU>?HA;CHL?!MC!Y9!f?=AE`!^?=LAHL?!=CE:DLAHM?!>HLC=RAD?!CHL=C!^A=L>MAE!MC!UAMA!LC=;>HAD!MC!;C>A!f?=AJ!C;!M>AE!E?B!>HXD:nHU>A!MC!XC=>AM?@!
-! 2ABCDA! P`! =C^=?M:]>MA! A! ECb:>=`! ;?EL=A! ?E! ^=>HU>^A>E! AE^CUL?E! M?! ^AM=O?! MC! EC=R>N?E!MCX>H>L>R?!^=?^?EL?@!!
A'>%<'(g(B(!4<0:<"($'(";%#+'(
!
,BEC=RANZCE!U?;^DC;CHLA=CE(!
• ,E!MAM?E!^A=A!A!MCX>H>NO?!M?!HTRCD!MC!EC=R>N?!MCX>H>L>R?!U?HELA;!HAE!2ABCDAE!K!C!_@!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Y[! #;! H?EE?!;?MCD?! ?^C=AU>?HAD`! CEEAE! 9! ^A=L>MAE! HO?! ^=?b=A;AMAE! CELO?! U?;^:LAMAE! C;! U?Hd:HL?! U?;! AE! "_! ^=?b=A;AMAE`!
=CE:DLAHM?!9Y!^A=L>MAE!M><=>AE@!!
!
"F!!
• -E!AH<D>ECE!C!=CE:DLAM?E!AS:>!A^=CECHLAM?E!^=CEE:^ZC;!S:C!?E!AL>R?E!C!A!^=CELANO?!MC!EC=R>N?E! MA! U?HUCEEO?! ECdA;! MC! S:AD>MAMC! AUC>L<RCD`! A>HMA! =CU?HfCUCHM?WEC! S:C! LAD!HO?!ECdA!A!E>L:ANO?!C;!R>b?=`!A^CEA=!M?E!CEX?=N?E!=CAD>]AM?E!C!=CE:DLAM?E!?BL>M?E!^CDA!AL:ANO?!MA!-7#*)-!H?E!lDL>;?E!;CECEo!!
• -E!?>L?!C;BA=UANZCE!AL:AD;CHLC!MCE>bHAMAE!h! U?HUCEEO?!MCRC;!EC=!;AHL>MAE! LCHM?!C;!R>ELA! EC!M>E^?=!MC! EC>E!^A=A!A!?^C=ANO?!^=?b=A;AMA!;A>E!M:AE!^A=A!^A=L>MAE!HO?!^=?b=A;AMAE`!=CEC=RA`!=CR>EZCE!C`!CRCHL:AD;CHLC`!EC=R>N?E!U?;^DC;CHLA=CE@!
• *CU?;CHMAWEC!S:C!?!^DAH?!MC!>HRCEL>;CHL?E!X:L:=?E!U?HLC;^DC!;CM>MAE!=CDAU>?HAMAE!h!ECb:=AHNA!C!MCEC;^CHf?!?^C=AU>?HAD!M?E!EC=R>N?E`!AB=AHbCHM?!AE^CUL?E`!LA>E!U?;?(!U?HL=?DC! MA! S:AHL>MAMC! MC! ^AEEAbC>=?E! G>HUD:E>RC! ?U:^AHLCE! MC! RCTU:D?EJ! C! RCTU:D?E!CXCL>RA;CHLC! C;BA=UAM?E`! C;! UAMA! ^A=L>MAo! ECb:=AHNA! C! U?;?M>MAMC! M?E! XD:I?E! MC!C;BA=S:C! C! MCEC;BA=S:C! MC! ^AEEAbC>=?E! C! RCTU:D?E! G>HUD:E>RC! A! ECb=CbANO?! CHL=C!CEECEJo! ;?H>L?=A;CHL?! MC! LC;^?! C! MCEC;^CHf?! MAE! C;BA=UANZCE`! C;! ^C=U:=E?`!;AH?B=A!C!S:AHM?!AL=AUAMAE@!
FBF G".5'.('N,%*=&'1*&.(,(6,.N,.*.(*6#&1&.5%*5&:*.(
,!U:EL?!?^C=AU>?HAD!MAE!C;BA=UANZCE!CEL<!=CDAU>?HAM?!A?E!ECb:>HLCE!>LCHE(!!!
• A%5)"($%(+#'6%33-'!GMCLC=;>HAHLC!^A=A!A!^=?M:L>R>MAMC!MA!C;BA=UANO?J(!H?LAWEC!S:C!?!-HCI?!P!M?!#M>LAD!G*CS:>E>L?E!,^C=AU>?HA>E!^A=A!$:AD>MAMC!M?E!/C=R>N?EJ!CELABCDCUC!U?;?!M:=ANO?!;<I>;A!MC!UAMA!U>UD?!G^?=LAHL?`!M:AE!L=ARCEE>AEJ!_c!;>H!C!Qcc!;>H!^A=A!C;BA=UANZCE! H?RAE! C! =C;?L?=>]AMAE`! =CE^CUL>RA;CHLC`! D>;>LCE! CEECE! >HXC=>?=CE! A?E!Ab?=A!AM?LAM?E`!;AE!S:C`!^?=!?:L=?!DAM?`!HO?!Rn;!EC!;?EL=AHM?!=CAD>]<RC>E!HA!^=<L>UAo!!
• !"5>:3+O6%<( GQPc!A!YQc! D>L=?E!^?=! L=ARCEE>A!C;!:;!ECHL>M?`!C;!;iM>AJ(!^A=A!?!U:EL?!:H>L<=>?!M?! U?;B:ELTRCD`! X?>! AM?LAM?!?! RAD?=!MC!*~!Q`PY!^?=! D>L=?`! A!^A=L>=!MC! RAD?=CE!>HX?=;AM?E!^CDA!2\)o!!
• C'&:+%&87"($%(#"+-&'(":(0"##%+-6'!GA!U?HUCEE>?H<=>A!HO?!X?=HCUC:!MAM?E!CE^CUTX>U?E!MC!U:EL?E!>HU?==>M?EJ(!U:d?!U:EL?`!>HUD:>HM?!;O?!MC!?B=A!=CDAU>?HAMA`!X?>!CEL>;AM?!C;!Kca!M?!U:EL?!M?!U?;B:ELTRCDYFo!!
• A#-):<'87"(GEAD<=>?E!C!CHUA=b?EJ(!0?=A;!U?HE>MC=AM?E!!LA;Bi;`!^?=!E?D>U>LANO?!MA!2\)!X:HMA;CHLAMA!C;!A:;CHL?!EADA=>AD!M?E!;A=TL>;?E!AUALAMA!^CDA!-7#*)-`!A:;CHL?!MC!U:EL?E!U?;!AE!L=>^:DANZCEo!
• H%6-39%3()%#-K$-0'3($'3(%5>'#0'89%3!G^C=>gM>UA!^A=A!L?MAE!AE!C;BA=UANZCEJ(!^=CR>EL?!?!>HLC=RAD?!;iM>? MC S:AL=? AH?E`!A?!U:EL?!;iM>?!MC *~!"`[!;>DfZCE!^?=!AH?o C
• !:3+"3(-&$-#%+"3 GC;BA=UANZCE!MC!=CEC=RA`!L=>^:DANZCE!MC!=CEC=RA!C!?:L=?E!XAL?=CEJ(!Y[a!M?!RAD?=!MA!E?;A!M?E!U:EL?E!MC!U?;B:ELTRCD`!;AH:LCHNO?!C!L=>^:DANO?!HA!MALA!BAEC@!
-!2ABCDA!Qc!;?EL=A!?E!RAD?=CE!U?==CE^?HMCHLCE!A?E!>LCHE!>HM>UAM?E@!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!YF!#;!H?EE?!CHLCHMC=!CEEC!^C=UCHL:AD!MC!Kca!M?!U:EL?!M?!U?;B:ELTRCD!i!BAEC!AMCS:AMA!^A=A!A!CEL>;A=!?!U:EL?!;AH:LCHNO?!MC!
=?L>HA! GS:C! HO?! U?HLC;^DA! =CR>EZCE! ^C=>gM>UAE! W! tM?UAbCHEtJ`!;CE;?!S:C! >HUD:TM?! ?! U:EL?! MC! ^CEE?AD@! 1AE?! EC! AM?LAEEC`! ADi;!MCEEC!^C=UCHL:AD`!?!U:EL?!MA!;O?!MC!?B=A`!U?;?!^=?^ZC!A!2\)`!=CE:DLA=>A!S:C!G&J!A!;AH:LCHNO?!MC!=?L>HA!LC=>A!U:EL?!E:^C=>?=!A?!MC!U?;B:ELTRCD`!?!S:C!HO?!H?E!^A=CUC!=A]?<RCD!GCE^CU>AD;CHLC!EC!U?HE>MC=AHM?!?E!^=CN?E!AL:A>E!MC!MC=>RAM?E!MC!^CL=gDC?J`!C!G&&J!?!U:EL?!MC!;O?!?B=A!MA!;AH:LCHNO?!MC! =?L>HA!j! L>^>UA;CHLC!MC!HAL:=C]A!RA=><RCD!j!^AEEA=>A!A! EC=! X>I?`!?!S:C! LA;Bi;!HO?!EC=>A!CX>U>CHLC!C!HC;!=A]?<RCD@!
!
"K!!
!,E!U:EL?E!?^C=AU>?HA>E!MC!LC=;>HA>E!X?=A;!UADU:DAM?E!A!^A=L>=!MA!E:BL=ANO?!M?!RAD?=!MC!U:EL?E!?^C=AU>?HA>E!L?LA>E!A^=CECHLAM?E!HAE!MC;?HEL=ANZCE!X>HAHUC>=AE!MA!1?HUCEE>?H<=>A!H?!AH?!MC!YcQc`! MA! MC^=CU>ANO? C! M?E! U:EL?E! ?^C=AU>?HA>E! U?;! C;BA=UANZCE! =CE:DLAHLCE! M?! ;?MCD?!?^C=AU>?HAD! MCECHR?DR>M?! G2ABCDA! QQJ`! U?HE>MC=AHM?`! ^A=A! LAHL?`! AE! QK@QYc! ^A=L>MAE! S:C! A!U?HUCEE>?H<=>A! >HX?=;?:!LC=!=CAD>]AM?!C;!YcQc@!,E!RAD?=CE!CHLO?!U?==>b>M?E!^A=A!A!MALA!BAEC!!"# $%&'()*+# ,(('-.# *# &"/*$# !%# 01(2*(# 0*-# 2%$-'3"'(# 0*3('!%$"!*(# %-# 4566# 7*'# !%# 89# :.;<6#
!"#$%&'YK`!U?;?!A^?HLAM?!HA!2ABCDA!QY@!!
!,! RAD?=! U?HE>MC=AM?! ^A=A! MCE^CEAE! AM;>H>EL=AL>RAE! X?>! MC! *~! [! ;>DfZCE`! ;CE;?! ;?HLAHLC!>HM>UAM?!H?!^DC>L?!MC!=CR>EO?!LA=>X<=>A!^CDA!U?HUCEE>?H<=>A@!!,E!U:EL?E!C!MCE^CEAE!AM;>H>EL=AL>RAE!^=?dCLAM?E!E?X=C;!AE!ECb:>HLCE!>HXD:nHU>AE!G2ABCDAE!Q9!C!Q[J(!
• |HM>UC!MC!^=?M:L>R>MAMC(!"Fa!M?!L?LAD!M?E!U:EL?E!L?LA>E`!S:C!=C^=CECHLA;!A!E?;A!MC!U:EL?E!U?;!LC=;>HAD!C!MCE^CEAE!M?!^=>;C>=?!AH?!C;!=CDANO?!A?!L?LAD!MC!U:EL?E`!EC=O?!>;^AULAM?E!^?=!:;A!^=?M:L>R>MAMC!MC![a!A@A@`!D>HCA=!H?E!^=gI>;?E!U>HU?!AH?E@!
• 1:EL?E! MC! ?^C=ANO?! MC! LC=;>HA>E! RA=><RC>E(! :;A! ^A=UCDA! M?E! U:EL?E! MC! ?^C=ANO?! MC!LC=;>HA>E`!CS:>RADCHLC!A!9`9a!M?E!U:EL?E! L?LA>E`! X?>! L=ALAMA!U?;?!RA=><RCD!MC!AU?=M?!U?;!A!MC;AHMAY_@
-!2ABCDA!Q[!;?EL=A!?!XD:I?!MC!U:EL?E!MC!U:EL?E!?^C=AU>?HA>E!C!MCE^CEAE!AM;>H>EL=AL>RAE`!MC!AU?=M?!U?;!AE!^=C;>EEAE!MCELA!ECNO?@!!
A'>%<'(!(B(!:3+"3(%($%3)%3'3(
!!#;!=CDANO?!h!^=?M:L>R>MAMC!U?HLC;^DAMA!HCEEA!^=?dCNO?`!LC;?E!A!U?HE>MC=A=!?!S:C!ECb:C(!
• 7AHf?E!MC!^=?M:L>R>MAMC!Rn;!ECHM?!?BEC=RAM?E!C;!^=AL>UA;CHLC!L?M?E!?E!ECL?=CE!MC!AL>R>MAMC`!C!i!MC!EC!CE^C=A=!S:C!U?HL>H:C;!?U?==CHM?!H?!X:L:=?o!
• A! ?^C=ANO?! MA! 2\)! EC! ;?EL=A! ^A=L>U:DA=;CHLC! >HCX>U>CHLC! C;! LC=;?E! LAHL?! MC!ALCHM>;CHL?!A?E!:E:<=>?E`!S:AHL?!MC!:L>D>]ANO?!MC!=CU:=E?E!GC;BA=UANZCE`!LC=;>HA>E`!E>ELC;AE`! ^CEE?AD! C;BA=UAM?! C! C;! LC==AJ`! ?! S:C! ^=?^?=U>?HA! ^?LCHU>AD! A;^D>AM?! MC!bAHf?E!MC!^=?M:L>R>MAMC!G?:`!;A>E!U?==CLA;CHLC`!=CM:NO?!MC!>HCX>U>nHU>AEJo!
• ?E! bAHf?E! MC! ^=?M:L>R>MAMC! U?HE>MC=AM?E! H?! UAE?! CE^CUTX>U?! MA! ^=?dCNO?! MC! U:EL?E!^?MC;!EC=!U?HE>MC=AM?E!U?HEC=RAM?=CE`!^?>E!LA>E!bAHf?E!EO?!MC!Q`_"a!M?!Qm!A?
!
"_!!
&;^?=LAHLC!U>LA=!S:C!A!^=?M:L>R>MAMC!i!XAL?=!CEECHU>AD!^A=A!A!E?B=CR>RnHU>A!MC!:;A!C;^=CEA!C;!:;!;C=UAM?!U?;^CL>L>R?`!C!S:C!A!^=?M:L>R>MAMC!i!CEECHU>AD!^A=A!A!MCLC=;>HANO?!MC!LA=>XAE!;gM>UAE@!$:AHM?! EC! L=ALA!MC!;?H?^gD>?E`! A!^=C?U:^ANO?!M?! =Cb:DAM?=! U?;!A!^=?M:L>R>MAMC!MCRC! EC=! ;A>?=@! -! LTL:D?! MC! CIC;^D?`! =CE?D:NO?! MA! -+5&/-! E?B=C! ^=CN?! M?E! ;CM>UA;CHL?E!AX>=;A!S:C!q,! XAL?=!MC!^=?M:L>R>MAMC! G@@@J! RC;!A! EC=!?!;CUAH>E;?!S:C!^C=;>LC! =C^AEEA=!A?E!U?HE:;>M?=CE`!^?=!;C>?!M?E!^=CN?E!M?E!;CM>UA;CHL?E`!^=?dCNZCE!MC!bAHf?E!MC!^=?M:L>R>MAMC!MAE! C;^=CEAE! ^=?M:L?=AE! MC!;CM>UA;CHL?E@! G@@@J@! ,! XAL?=! MC! ^=?M:L>R>MAMC! i! CELABCDCU>M?! A!^A=L>=! MA! CEL>;AL>RA! MC! bAHf?E! ^=?E^CUL>R?E! MC! ^=?M:L>R>MAMC! MA! >HMlEL=>A! XA=;AUn:L>UAr"c@!2A;Bi;!A!-+-2#4! CEL>^:D?:!^=?M:L>R>MAMC!MC! Qa`! S:C!MCRC! EC=! =C^AEEAM?! AH:AD;CHLC! A?E!U?HE:;>M?=CE"Q@!!'?=! X>;`! U:;^=C! ?BEC=RA=! S:C! A! H?RA! DCb>EDANO?! MC!;?B>D>MAMC! :=BAHA! MCX>H>:`! LO?! A^D>U<RCD!S:C!?!U>LAMA!^CDA!2\)!C;!;AH>XCELANO?!MC!Qc!MC!AB=>D!MC!YcQY`!^=CR>:!C;!EC:!A=L@!P`!^A=<b=AX?!MiU>;?`!&&`!S:C!qAE!=CR>EZCE!?=M>H<=>AE!MAE!LA=>XAE!MC!=C;:HC=ANO?!G@@@J!MCRC=O?!G@@@J!>HU?=^?=A=!THM>UC!MC!L=AHEXC=nHU>A!MC!^A=UCDA!M?E!bAHf?E!MC!CX>U>nHU>A!C!^=?M:L>R>MAMC!MAE!C;^=CEAE!A?E!:E:<=>?Er@!*CUCHLC;CHLC`!=CUCBC;?E!:;A!^DAH>DfA!C;!'(,'*!MA!U?HUCEE>?H<=>A!S:C!A^=CECHLARA!MAM?E!MC!YcQY`!A^A=CHLC;CHLC!MCXDAU>?HAM?!^A=A!YcQQ`!C!A! E?D>U>LANO?!MC!S:C!CEECE! X?EEC;!A^D>UAM?E!U?;?! U:EL?E! ?^C=AU>?HA>E! C! MCE^CEAE! AM;>H>EL=AL>RAE@! 1?;?! ?E! MAM?E! HO?! CELARA;!AU?;^AHfAM?E! MC! S:ADS:C=! CR>MnHU>A! ?:! U?;^=?RANO?! S:AHL?! A! E:A! AMCS:ANO?! A?E! X>HE!E:bC=>M?E@!'?=LAHL?`!C!LA;Bi;!^?=!S:CELO?!MC!U?C=nHU>A`!?^LA;?E!^CDA!:L>D>]ANO?!M?E!MAM?E!MC!YcQc`!lDL>;?!AH?!S:C!AHLCUCMC!A!MALA!BAEC!MA!=CR>EO?@!
FBV K*.,(6,(%,#"1,%*78'(,(1':'.(&1:,.5&#,15'.(
FBVBC 0.N,=5'.(R,%*&.(
1?HEL>L:C;! AL>R?E! MA! U?HUCEEO?! ?E! CS:>^A;CHL?E! C;! :E?! MA! U?HUCEE>?H<=>A`! >HUD:>HM?!LC=;>HA>E! C! EC:E! CS:>^A;CHL?E`! >HELADANZCE! C! C;BA=UANZCE@! 7=AHMC! ^A=LC! M?E! AL>R?E! MA!U?HUCEEO?! X?>! UCM>MA! ^CD?! ^?MC=! U?HUCMCHLC`! ECHM?! S:C! M:AE! C;BA=UANZCE! H?RAE! X?=A;!AU=CEU>MAE!A?!E>ELC;A!^CDA!U?HUCEE>?H<=>A@!!
,E! AL>R?E! UCM>M?E! ^CD?! ^?MC=! U?HUCMCHLC! HO?! >HLCb=A;! A! BAEC! MC! =C;:HC=ANO?`! ;AE! ?E!>HRCEL>;CHL?E!HCDCE!=CAD>]AM?E!^?MC;!>HLCb=<WDA@!/)%&'3("(6'<"#(*:3+"($%('J:-3-89%3($%('+-6"3(#%'<-D'$'3()%<'(0"&0%33-"&4#-'S(J:'&$"(&%0%334#-"S(')K3(':+"#-D'$'3()%<"()"$%#(0"&0%$%&+%S(%&+#'#4()'#'('J:%<'(>'3%@!
+A! =CR>EO?! ^C=>gM>UA`! ?! =Cb:DAM?=! MCRC! ARAD>A=! S:A>E! C! C;! S:C! U?HM>NZCE! ?E! AL>R?E! EO?!HCUCEE<=>?E!^A=A!A!^=CELANO?!CX>U>CHLC!M?E!EC=R>N?E@!'A=A!U?HL=>B:>=!U?;!A!;?M>U>MAMC!LA=>X<=>A`!?E!AL>R?E!?U>?E?E!^?MC=>A;!EC=!=C;:HC=AM?E!C;!X:HNO?!MC!EC:!XAL?=!MC!A^=?RC>LA;CHL?"Y@!+?!UAE?!CE^CUTX>U?!MAE!C;BA=UANZCE`!A?!EC!=C;:HC=A=!?E!AL>R?E!A^CHAE!HA!^=?^?=NO?!C;!S:C!EO?!C;^=CbAM?E!H?!EC=R>N?!U?HUCM>M?`!?!=Cb:DAM?=!U=>A!>HUCHL>R?E!^A=A!S:C!A!U?HUCEE>?H<=>A!LAHL?!B:ES:C!A!U?;^DC;CHLANO?!MC!=CUC>LAE!^?=!;C>?!MC!AL>R>MAMCE!AEECEEg=>AE!C!U?;^DC;CHLA=CE!S:AHL?! ^A=A! S:C! ;AHLCHfA! ?E! AL>R?E! CXCL>RA;CHLC! ?^C=AU>?HA>E@! #EEA! ^=<L>UA`! U?HL:M?`!MC^CHMC=>A! MC! ^=iR>?! AHlHU>?`! U?;! b=AHMC! AHLCUCMnHU>A`! ^A=A! S:C! ECdA;! R>AB>D>]AM?E! ?E!bAHf?E!M?E! >HUCHL>R?E!MCU?==CHLCE@!+O?!CELA;?E!A!U?HE>MC=A=!CEEC!CDC;CHL?!HCELC!^=?UCEE?!=CR>Eg=>?@!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"c!-=L>b?!"m`!UA^:L!C!^A=<b=AX?!lH>U?@!
"Q0?HLC(fLL^(ee���@AHALCD@b?R@B=e'?=LADeCI>B>='?=LAD'Ab>HA#E^CU>AD@M?�AUA?��U?M&LC;1AHAD�_"P�U?M>b?5>EA?�[�H?;C5>EA?�#
;^=CEAE�H?;C1AHAD�2CDCX?H>AaYc0>IA�H?;C&LC;1AHAD�0AL?=aYc}!"Y!#EEA!^=<L>UA!RC;!ECHM?!AM?LAMA!U?;!^A=U>;VH>A!^CDA!-+##4!HA!=CR>EO?!LA=>X<=>A!^C=>gM>UA!MAE!M>EL=>B:>M?=AE`!^=>HU>^AD;CHLC!H?!
UAE?!MC!E:BCELANZCE`!S:C!EO?!AL>R?E!MC!UA^AU>MAMC@!!!
!
"P!!
-! ^=<L>UA! =Cb:DALg=>A! LCHMC! A! C;^=CbA=! U?;?! U=>Li=>?E! ^A=A! =CU?HfCU>;CHL?! M?E! RAD?=CE! MC!>HRCEL>;CHL?E! ?! RAD?=! f>ELg=>U?! MC! AS:>E>NO?! GRAD?=! U?HL<B>DJ! ?:! ?E! RAD?=CE! MC! =C^?E>NO?! M?E!AL>R?E!GRAD?=CE!MC!;C=UAM?J@!,E!RAD?=CE!f>ELg=>U?E!MCRC;!^AEEA=!^?=!RC=>X>UANZCE!U?;^A=AL>RAE!^A=A!bA=AHL>=!S:C!LCHfA;!E>M?!AMS:>=>M?E!C;!U?HM>NZCE!LT^>UAE!MC!;C=UAM?@!,!U=>Li=>?!M?!RAD?=!MC! =C^?E>NO?! =CS:C=!S:C!?! =Cb:DAM?=!M>E^?HfA!MC! >HX?=;ANZCE!U?;^A=AL>RAE!MC!;C=UAM?!MC!AL>R?E! EC;CDfAHLCE@! #;! A;B?E! ?E! UAE?E`! ?E! AL>R?E! MCRC;! EC=! MC^=CU>AM?E! MC! AU?=M?! U?;! A!R>MA! lL>D! LiUH>UA! C! CU?HV;>UA`! H?=;AD;CHLC! >HM>UAMA! C;! DA:M?E! LiUH>U?E! MC! ARAD>ANO?! M?E!BCHE@!!
1?HE>MC=AHM?!S:C!A!>HMlEL=>A!MC!+'$$%'0!H?!)=AE>D!HO?!^?MC!EC=!U?HE>MC=AMA!U?;?!MC!^=?M:NO?!EC=>AMA`!A!A^D>UANO?!M?!U=>Li=>?!MC!RAD?=!MC!=C^?E>NO?`!EC=>A!^AEETRCD!MC!S:CEL>?HA;CHL?@!*CELA`!^?>E`!AM?LA=!?!^=?UCM>;CHL?!MC!=CU:^C=ANO?!MC!>HX?=;ANZCE!MC!U:EL?!MC!AS:>E>NO?!M?E!AL>R?E!C! :L>D>]A=! A! MC^=CU>ANO?! U?HL<B>DeX>EUAD! U?;?! ,$%-E$%&" /%0#&83.'*" #!$!" MCX>H>NO?! MA! R>MA! lL>D`!U=>Li=>?! CELC! S:C`! AMC;A>E`! i! U?C=CHLC! U?;! UD<:E:DAE! U?HL=AL:A>E! S:C! =C;CLC;! A?! U:EL?!U?HL<B>D!M?E!BCHE@!!
'A=A!?E!AL>R?E!AM>U>?HAM?E!^CDA!^=g^=>A!U?HUCEE>?H<=>A`!EC=<!HCUCEE<=>?!ARAD>A=!A!HCUCEE>MAMC!MC! F*&0!0" ^A=A! UAMA! >HRCEL>;CHL?`! UAE?! ?E! AL>R?E! HO?! CELCdA;! ^DCHA;CHLC! ?^C=AU>?HA>E! ?:!UAE?!EC!RC=>X>S:C!S:C!?E!RAD?=CE!^Ab?E!^?EEA;!LC=!E>M?!E:^C=>?=CE!A?E!HCUCEE<=>?E@!!
,!d:DbA;CHL?!MA!^DCHA!?^C=AU>?HAD>MAMC!M?E!AL>R?E!MCRC!EC=!XC>L?!MC!;?M?!^=?E^CUL>R?!C!HO?!=CL=?E^CUL>R?@!&EL?!i`!EC!:;!>HRCEL>;CHL?!=CAD>]AM?!HO?!ADUAHN?:!?!MCEC;^CHf?!CE^C=AM?!H?!^C=T?M?!AHLC=>?=`!;AE!CHU?HL=AWEC!^DCHA;CHLC!?^C=AU>?HAD!H?!;?;CHL?!MA!=CR>EO?!?:!EC!UAE?!EC! CE^C=C! S:C! CELCdA! ?^C=AU>?HAD! H?! ^=gI>;?! ^C=T?M?`! CDC! ^?MC! EC=! U?HE>MC=AM?! C;! E:A!L?LAD>MAMC@! 1AE?! ^C=;AHCNA! U?;! MCEC;^CHf?! >HXC=>?=! H?! ^=gI>;?! ^C=T?M?`! U?HL:M?`! MCEMC!S:C!fAdA!A!^=iR>A!AM?NO?!MCEEA!=Cb=A`!^?MC=<!EC=!CEL:MAMA!CRCHL:AD!=CM:NO?!^=?^?=U>?HAD!M?E!RAD?=CE!HA!^=gI>;A!=CR>EO?@!!
$:ADS:C=! S:C! ECdA! ?! U=>Li=>?`! MCRC! EC=! U?HE>MC=AM?! S:C! =CDCRAHLCE! >HRCEL>;CHL?E! MA! 2\)!X?=A;!AMS:>=>M?E! MC! E:A! U?HL=?DAM?=A! C! HO?! X?=A;!A^=CECHLAM?E! CDC;CHL?E! S:C! >HM>UAEEC;!S:C! ?E! HCbgU>?E! ?U?==C=A;! U?;! BAEC! C;! ^=>HUT^>?E! MC! !$)G0" *'8F->H"
""" #EEA! U>=U:HELsHU>A!
CI>b>:!ALCHNO?!CE^CU>AD!C!?!MCR>M?!L=ALA;CHL?!H?!=CU?HfCU>;CHL?!MCEECE!>HRCEL>;CHL?E@!
-!bD?EA!MC!MCEC;B?DE?E! =CDAL>R?E!A! >HRCEL>;CHL?E!S:C!HO?! X?=A;!U?HE>MC=AM?E!^=:MCHLCE! EC!d:EL>X>UA! HA! ;CM>MA! C;! S:C`! EC! X?EEC! =CU?HfCU>M?! ?! RAD?=! MC! :;! AL>R?! >HM>UAM?! U?;?! HO?!^=:MCHLC`!?!=Cb:DAM?=!CELA=>A! >HUCHL>RAHM?!?!U?;^?=LA;CHL?! >HCX>U>CHLC!MA!U?HUCEE>?H<=>A!C!?HC=AHM?!>HMCR>MA;CHLC!?E!:E:<=>?E@!
2A;Bi;!MCRC;!EC=!ABAL>M?E!MA!BAEC!MC!=C;:HC=ANO?!>H>U>AD!CRCHL:A>E!A^?=LCE!MC!=CU:=E?E!M?!^?MC=!^lBD>U?!^A=A!A!AS:>E>NO?!MC!BCHE!=CAD>]AMA!^CDA!U?HUCEE>?H<=>A@!!
#;!ETHLCEC`!?!RAD?=!M?E!>HRCEL>;CHL?E!U?HE>MC=AM?E!HA!BAEC!MC!=C;:HC=ANO?!>H>U>AD!X?>!?!6'<"#(0"&+4>-<( $"3( 5%35"3`! MCR>MA;CHLC! '>'+-$"3( $%( %6%&+:'-3( M<"3'3( %( #%0:#3"3( )W><-0"3`!U?==>b>M?!^A=A!A!MALA!BAEC`!DTS:>M?!MC!A;?=L>]ANO?!C!MC!MC^=CU>ANO?@!1?;?!M>L?!AU>;A`!A!BAEC!MC!=C;:HC=ANO?!>H>U>AD!EC=<!U?HE>MC=AMA!U?;?!:;!qMCEC;B?DE?r!H?!XD:I?!MC!UA>IA@!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!""!,!^=>HUT^>?!!$)G0"*'8F->"B:EUA!ADUAHNA=!?!RAD?=!MA!?^C=ANO?!^=AL>UAMA!CHL=C!^CEE?AE!=CDAU>?HAMAE!UAE?!CEL>RCEEC;!HCb?U>AHM?!
C;!U?HM>NZCE!MC!D>R=C!U?;i=U>?`!?:!ECdA`!CHL=C!^A=LCE!>HMC^CHMCHLCE@!!!
!
9c!!
FBVBA K*.,(6,(%,#"1,%*78'(&1&=&*-(
!"#"$"% &'()*+,-(&.*/01(&
1?;?! A! BAEC! MC! AL>R?E! >HM>UAMA! ^CDA! U?HUCEE>?H<=>A! L>HfA! RAD?=CE! M>RC=bCHLCE! C! HO?!U?;^A=<RC>E! U?;!?E! RAD?=CE! A^=CECHLAM?E! H?E! BADAHN?E`! ?^L?:WEC! ^?=! :L>D>]A=! CELCE! lDL>;?E@!->HMA!AEE>;`!H?E!^A=CUC=A;!CEECHU>A>E!C!X?=A;!=CAD>]AM?E!?E!ECb:>HLCE!Ad:ELCE(!!
AJ!3CEU?HE>MC=ANO?!MC!>;?B>D>]ANZCE!=CAD>]AMAE!U?;!AL>R?E!HO?!?^C=AU>?HA>Eo!!!BJ!-d:ELCE!H?E!RAD?=CE!MAE!C;BA=UANZCE!0)!-HHA!+C=�!C!0)!&RCLC!/AHbAD?o!!!UJ!3CEU?HE>MC=ANO?!MC!E>ELC;A!MC!B>DfCLAbC;!^=CR>EL?!C!HO?!>;^DAHLAM?@!!
'=>;C>=A;CHLC`! CEB?NA=C;?E! ?E! RAD?=CE! MC! UAMA! :;! M?E! Ad:ELCE`! ^?ELC=>?=;CHLC!MC;?HEL=A=C;?E!?!U<DU:D?!M?!RAD?=!MA!BAEC!MC!=C;:HC=ANO?`!:L>D>]AHM?WEC!MA!BAEC!MC!AL>R?E!U?HE?D>MAMA!C!M?E!Ad:ELCE!^=?^?EL?E@!
!"#"$"$ 2*(+-3(14*/056-&4-(&0,17-(&36-&-)*/0+1-301(&
-E!>;?B>D>]ANZCE!MC!AL>R?E!U:dA!?=>bC;!X?>!A! >HLCb=AD>]ANO?!>H>U>AD!MC!UA^>LAD!MC!U?HUCEE>?H<=>A!X?=A;!MCEU?HE>MC=AM?E`!H?!RAD?=!MC!*~![@PK[@Fcc`cc`!^CDAE!=A]ZCE!d<!CI^D>UAMAE!C;!=CDALg=>?E!AHLC=>?=CE!C!MC!A;^D?!U?HfCU>;CHL?@!!
!"#"$"8 2*(+-3(14*/056-&4*&(1(,*90&4*&:1;<*,0.*9&)/*71(,-&*&36-&19);03,04-&
,! E>ELC;A! MC! B>DfCLAbC;`! S:C! MCRC=>A! CHL=A=! C;! X:HU>?HA;CHL?! H?! ^=>;C>=?! AH?! MC!U?HUCEEO?`! H?LAMA;CHLC! HO?! ALCHMC! A?E! =CS:>E>L?E! M?! CM>LAD@! ,E! =CE^CUL>R?E! >HRCEL>;CHL?E!X?=A;!MCEU?HE>MC=AM?E!MA!BAEC!>H>U>AD`!A^=?I>;AMA;CHLC!MC!*~!Y!;>DfZCE@!!
!"#"$"! '=>(,*&4-(&70;-/*(&40(&*9:0/+05?*(&
0?=A;!=CAD>]AM?E! L=nE!Ad:ELCE!H?!RAD?=!MAE!M:AE!C;BA=UANZCE!AMS:>=>MAE(! G&J! =CDAL>R?!A?!RAD?=!C;!MgDA=!MCELAUAM?!C;!U?HL=AL?"9`! ^?=!CELA=!C;!MCEAU?=M?! U?;!?!'2-}!_cc!M>R:DbAM?!^CD?!)-1#+"[o!G&&J!;A>E!E>bH>X>UAL>R?`!MCU?==C!MA!HO?!?BEC=RsHU>A!M?!U?HL=AL?!S:AHL?!h!:L>D>]ANO?!MA!LAIA!MC!Us;B>?!M?!MgDA=!MA!MALA!M?!MCEC;B?DE?o!C!G&&&J!^CDA!HCUCEE>MAMC!MC!Ad:ELC!MA!BAEC!MC!=C;:HC=ANO?! =CDAL>RA! A! U?HL=>B:>NO?! M?! ^?MC=! 1?HUCMCHLC! ^?=! AHLCU>^ANO?! MA! U?;^=A! MA!C;BA=UANO?!-HHA!+C=�@!
,!^=>;C>=?!Ad:ELC!MCU?==C!MA!'&4<-3%($"3(0"&+#'+"3($%(0"5)#'(%(6%&$'($'3(%5>'#0'89%3!!^Bljl(%(!^BljY!G0)!&RCLC!/AHbAD?!C!0)!-HHA!+C=�`!=CE^CUL>RA;CHLCJ`!A;B?E!UCDCB=AM?E!C;!Q[!MC!MC]C;B=?!MC!YccF@
#EECE!U?HL=AL?E!CEL>^:DA=A;!S:C!?!RAD?=!MC!^AbA;CHL?!C;!MgDA=CE!X?EEC!U?HRC=L>M?!^A=A!=CA>E!U?HX?=;C! U=?H?b=A;A! C! ;CM>NZCE`! ^=?UCM>;CHL?! CELC! HO?! ECb:>M?`! M?! S:C! =CE:DL?:! ?!MCEC;B?DE?! MC! RAD?=CE! ^CDA! 2\)! )Af>A! ;A>?=CE! S:C! ?E! AU?=MAM?E`! C;! BCHCXTU>?! MC! E:A!U?HL=?DAM?=A@!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"9! 1?HL=AL?! MC! U?;^=A! C! XAB=>UANO?! UCDCB=AM?! CHL=C! ?! 1?HUCEE>?H<=>?! C! ?! 0AB=>UAHLC`! XAB=>UAHLC! CELC! S:C! i! ?! U?HL=?DAM?=! M?!
1?HUCEE>?H<=>?`!^A=A!?!X?=HCU>;CHL?!!MAE!M:AE!C;BA=UANZCE`!1+WQ"Q!C!1+WQ"9@!"[!)AHU?!1CHL=AD!M?!)=AE>D!
!
9Q!!
'?=! CEEA! =A]O?`! X?>! MCLC=;>HAM?! ?! RAD?=! C;! MgDA=CE! MAE! C;BA=UANZCE@! 1?HL:M?`! A! LAIA! MC!Us;B>?!:L>D>]AMA!^A=A!?!U<DU:D?!M?!RAD?=!C;!MgDA=CE!H?!U?HL=AL?!i!M>XC=CHLC!MA!LAIA!M>R:DbAMA!^CD?!)-1#+@!-! LAIA!MC! Us;B>?!M?!MgDA=!M>R:DbAMA!^CD?!)-1#+!^A=A!?!;CE;?!M>A! U>LAM?!C;!U?HL=AL?`!Qc!MC!XCRC=C>=?!MC!YccF`!i!MC!Y`Q[K["F =CA>EeMgDA=@!+?LAWEC S:C`!A^CEA=!MC!?!U?HL=AL?!LC=!E>M?!AEE>HAM?!C;!Q[!MC!MC]C;B=?`!A!LAIA!MC!Us;B>?!:L>D>]AMA!C;!U?HL=AL?!X?>!A!M?!M>A!Qc!MC!XCRC=C>=?!MC!YccF!j!MC]!;CECE!AHLCE@!-^CEA=!MA!M>XC=CHNA!LC;^?=AD!MA!LAIA!:L>D>]AMA!C!MALA!MC!AEE>HAL:=A!M?!U?HL=AL?`!?^LA;?E!^?=!;AHLC=!A!;CE;A!MALA!:L>D>]AMA!H?!U?HL=AL?!^A=A!A!LAIA!MC!Us;B>?!W!Qc!MC!XCRC=C>=?!YccF@!
,! RAD?=!MAE! C;BA=UANZCE!C;!MgDA=CE! A^=CECHLAM?!C;!U?HL=AL?!i!MC!%/~!Q9!;>DfZCE`!;AE!?!RAD?=!C;!MgDA=CE`!S:AHM?!U?HRC=L>M?E!^CDA!LAIA!M>R:DbAMA!^CD?!)-1#+!^A=A!Qc!MC!XCRC=C>=?`!i!MC!%/~!Q"`_!;>DfZCE@!-!2ABCDA!Y[!MC;?HEL=A!CEEAE!M>XC=CHNAE@!
,! ECb:HM?! Ad:ELC! H?! RAD?=! MAE! C;BA=UANZCE! i! =CDAL>R?! h! :+-<-D'87"( $'( +'@'( $%( 0o5>-"! M?!;?;CHL?! M?! MCEC;B?DE?@! ,E! RAD?=CE! C;! MgDA=CE! MCRC=>A;! LC=! E>M?! RC=L>M?E! ^A=A! =CA>E`!U?HX?=;C! LAIAE! MC! Us;B>?! RC=>X>UAMAE! H?E! ;?;CHL?E! M?E! MCEC;B?DE?E@! #EEAE! MALAE`! AEE>;!U?;?!?E! RAD?=CE! MCEC;B?DEAM?E`! U?HL:M?`! HO?! X?=A;!A^=CECHLAMAE! ^CDA! U?HUCEE>?H<=>A@! '?=!CEEA!=A]O?`!:L>D>]A;?E!:;A!lH>UA!MALA!^A=A!A!U?HRC=EO?!M?E!RAD?=CE!C;!MgDA=CE!^A=A!=CA>E!MAE!C;BA=UANZCE`!S:C!i!A!MALA!MC!C;>EEO?!MA!=CE^CUL>RA!H?LA!X>EUAD@!!
-! 2ABCDA! Y[! A^=CECHLA! ?E! RAD?=CE! U?HE>MC=AM?E! ^A=A! AE! C;BA=UANZCE! C;! MgDA=CE! G%~! Q"`_!;>DfZCEJ`!U?HRC=L>M?E!^A=A!=CA>E!^CDA!LAIA!MC!Us;B>?!M?!MgDA=!M?!M>A!MA!+?LA!0>EUAD@!,E!RAD?=CE!C;!=CA>E!U?HE>MC=AM?E!MC!*~!YY`Q!;>DfZCE!^A=A!&RCLC!/AHbAD?!C!MC!*~!Y"`F!;>DfZCE!^A=A!-HHA!+C=�`!=C^=CECHLA;!RAD?=CE!>HXC=>?=CE!A?E!A^=CECHLAM?E!HCEEAE!H?LAE!X>EUA>E!G*~!"9`P!;>DfZCE!C!*~!9c`c!;>DfZCE`!=CE^CUL>RA;CHLCJ@!
,! ^AbA;CHL?! MC! RAD?=CE! E:^C=>?=CE`! =CXC=CHLCE! A?E! M?>E! Ad:ELCE! A^=CECHLAM?E`! =C^=CECHLA;!D>BC=AD>MAMCE! MA! U?HUCEE>?H<=>A! C;! XAR?=! MC! E:A! U?HL=?DAM?=A! GX?=HCUCM?=AJ`! AE! S:A>E! HO?!MCRC;!EC=!=C;:HC=AMAE!C!X?=A;!MCEU?HE>MC=AMAE!^A=A!A!X?=;ANO?!MA!BAEC!MC!=C;:HC=ANO?@!
,!LC=UC>=?!C!lDL>;?!Ad:ELC!=CXC=CWEC!A?!6'<"#()'M"()%<"()"$%#(0"&0%$%&+%(Q(0"&0%33-"&4#-'!C;!=A]O?!MA!AHLCU>^ANO?!MA!U?HEL=:NO?!C!CHL=CbA!MA!C;BA=UANO?!0)!-HHA!+C=�!^=CR>ELA!^A=A!?!H?H?!AH?!MC!U?HL=AL?!C!CHL=Cb:C!AHLCU>^AMA;CHLC!A?! X>HAD!M?!S:>HL?!AH?@!#ELA!AHLCU>^ANO?!;?L>R?:!?!AU?=M?!UCDCB=AM?!CHL=C!AE!^A=LCE`!;CM>AHLC!?!S:AD!?!^?MC=!U?HUCMCHLC!^Ab?:!*~P`Q!;>DfZCE!h!U?HUCEE>?H<=>A@!#ELC!RAD?=!MC!HO?!MCRC!EC=!=C;:HC=AM?!C! X?>!E:BL=ATM?!MA!BAEC!MC!=C;:HC=ANO?`!DTS:>M?!MC!>;^?EL?E!G2ABCDA!Y"J@!
,E!=CE:DLAM?E!MCEECE!Ad:ELCE!C!j!AEE>;!U?;?!A!U?==CNO?!M?E!AL>R?E`!?E!U<DU:D?E!MC!MC^=CU>ANO?!C! ?:L=?E! U?HCI?E! j! X?=A;! XC>L?E! U?;! BAEC! H?E! MAM?E! MC! BADAHN?! MA! U?HUCEE>?H<=>A@! -!>HU?HE>ELnHU>A!MC!ADb:;AE! >HX?=;ANZCE!C!A! XADLA!MC!?:L=AE!CI>b>:!^=?UCM>;CHL?E!ADLC=HAL>R?E!^A=A! CEECE! U<DU:D?E! G?E! >HRCEL>;CHL?E! CIUD:TM?E! ?:! Ad:ELAM?E! X?=A;! =CAD>]AM?E! C;! EC:E!=CE^CUL>R?E! AH?E! C! EC;! MCELAUA=! >HM>R>M:AD;CHLC! ?E! AL>R?E! S:C! U?;^ZC;! A! BAECJ`! EC;! EC!^=Cd:M>UA=`!U?HL:M?`!A!:L>D>]ANO?!M?E!=CE:DLAM?E!X>HA>E@!
-! ECS:nHU>A! MC! U<DU:D?! :L>D>]AMA! ^A=A! EC! ADUAHNA=! A! BAEC! >H>U>AD! MC! =C;:HC=ANO?! CEL<!MC;?HEL=AMA! HA! 2ABCDA! QK`! U:dA! U?D:HA! H:;C=AMA! U?;?! QK! U?HE?D>MA! ?! RAD?=! MA! BAEC! MC!=C;:HC=ANO?!>H>U>AD!HA!MALA!BAEC!MA!=CR>EO?`!MC!*~!KY`Y!;>DfZCE"K@!!
"F!,!)AHU?!1CHL=AD!M?!)=AE>D`!)-1#+`!M>R:DbA!AL:AD;CHLC!M:AE!LAIAE!MC!U?HRC=EO?!G'2-}!_ccJ(r!Q!W!2AIA!MC!Us;B>?!W!4>R=C!W!3gDA=!
A;C=>UAH?!GRCHMAJ!W!M><=>?!W!:@;@U@e%/~r!!C!A!LAIA!qQc_Q"!W!2AIA!MC!Us;B>?!W!4>R=C!W!3gDA=!A;C=>UAH?!GU?;^=AJ!W!:@;@U@e%/~r@!#EEAE!M:AE!LAIAE!H?;CAMAE!MC! q4>R=CEr!^CD?!)-1#+!EO?!U?;:;CHLC!U?HfCU>MAE!^?=!qMgDA=!U?;C=U>ADr`!C!S:C!EO?!AE!LAIAE!U?;:;CHLC!:L>D>]AMAE!C;!U?HL=AL?E!U?;C=U>A>E@!-!LAIA!:L>D>]AMA!X?>!A!MC!UgM>b?!Qc_Q"!S:C!i!A!LAIA!MC!U?;^=A!M?!MgDA=!U?;C=U>AD@!"K! +AL:=AD;CHLC`! =CUCBC;?E! A=b:;CHLANZCE! C! ^DC>L?E! MA! U?HUCEE>?H<=>A! H?! ECHL>M?! MC! S:C! :L>D>]<EEC;?E! RAD?=CE! ?=>b>HA>E! ?:!
E:^C=>?=CE! hS:CDCE! S:C! CELA;?E! A! U?HE>MC=A=@! 1?HL:M?`! CEEAE!;AH>XCELANZCE! HO?! H?E! L=?:IC=A;! S:ADS:C=! CDC;CHL?! UA^A]! MC!
!
9Y!!
FBVBE W.5&#*5&:*(6'.(&1:,.5&#,15'.(@"5"%'.((
,E!>HRCEL>;CHL?E!U?HE>MC=AM?E!HCUCEE<=>?E!A?!X:HU>?HA;CHL?!AMCS:AM?!MAE!C;BA=UANZCE`!MC!AU?=M?!U?;!?!;?MCD?!?^C=AU>?HAD`!X?=A;!CEL>;AM?E!C;!*~!"`[!;>DfZCE!^?=!AH?@!-Di;!MCEECE!>HRCEL>;CHL?E`! X?=A;! ^=CR>EL?E! ?:L=?E! A! EC=C;! =CAD>]AM?E! H?E! ^=gI>;?E! S:AL=?! AH?E`!MCEL>HAM?E!A?!A^=>;?=A;CHL?!C!h!;?MC=H>]ANO?!M?! E>ELC;A`!H?!RAD?=!MC!*~!9F`K!;>DfZCE`!?!S:AD!X?>!M>EL=>B:TM?!CHL=C!?E!S:AL=?!^C=T?M?E!=CELAHLCE!MCELC!XD:I?!LA=>X<=>?!G-H?!Y!A!-H?![J!HAE!ECb:>HLCE!^=?^?=NZCE!A^=?I>;AMAE(!Q[a`!Y[a`!Y_a!C!"Ya`!U?HX?=;C!EC!MC^=CCHMC!MA!2ABCDA!QP@!
A'>%<'(,(B(g'3%($%(#%5:&%#'87"(
!
#EECE! RAD?=CE! X?=A;! M>EU:L>M?E! CHL=C! A! U?HUCEE>?H<=>A! C! A! -7#*)-`! S:C! H?E! CHUA;>Hf?:@!*CEEADLCWEC`! U?HL:M?`!S:C!?E! >HRCEL>;CHL?E!CXCL>R?E!A! EC=C;! XC>L?E!A>HMA! EC=O?!MCLADfAM?E!C!U?HX>=;AM?E!^CDA! U?HUCEE>?H<=>A!C!^CDA!-7#*)-`!AEE>;!U?;?!S:C!M>XC=CHNAE!MC! U=?H?b=A;A!?:!RAD?=CE!C;!=CDANO?!A?E!?=A!U?HE>MC=AM?E!^A=A!UAMA!AH?!EC=O?!L=ALAMAE!HA!^=gI>;A!=CR>EO?!?=M>H<=>A"_@!
+CEECE! >HRCEL>;CHL?E! HO?! MCRC;! EC=! >HUD:TM?E! ?E! RAD?=CE! A! EC=C;! C;^=CbAM?E! HA!=CU?HEL=:NO?!M?!/&*#>%8!?:!HA!=CU:^C=ANO?e>HMCH>]ANO?!MA!BADEA!)A=L>=A`!LCHM?!C;!R>ELA!S:C`!HCEECE! UAE?E`! L=ALA;WEC! MC! ?B=>bANZCE! MA! U?HUCEE>?H<=>A! S:C! HO?! ^?MC;! EC=! =C;:HC=AMAE!^CD?!XD:I?!MC!UA>IA!U?HEL=:TM?!^A=A!MCX>H>NO?!MAE!LA=>XAE@!#EECE!RAD?=CE!MCRC;!EC=!E:^?=LAM?E!^CD?!AU>?H>ELA!C!HO?!^CD?E!:E:<=>?E@!
-EE>;`!CEEC!?=NA;CHL?!MC!>HRCEL>;CHL?E!G*~!9F`K!;>DfZCEJ`!3%M:&$"('(/e_Hg/`!i!LC;!^?=!X>;!G&J!U?HEL=:>=!?!E>ELC;A!MC!M?UAbC;!MAE!C;BA=UANZCE`!G&&J!=CX?=;A=!C!AMA^LA=!?E!LC=;>HA>E!^A=A!AE!=Cb=AE!MC!AUCEE>B>D>MAMC!C! G&&&J!;?MC=H>]A=!C;BA=UANZCE!C!LC=;>HA>E`! >HUD:>HM?!E>ELC;AE!MC!A^?>?!GB>DfCLAbC;!C!U?HL=?DC!MC!AUCEE?E!MC!^AEEAbC>=?E!C!RCTU:D?E`!!^?=!CIC;^D?J`!AEE>;!U?;?!=C;?L?=>]A=!MC!C;BA=UANZCE@!!
FBVBF K*.,(6,(%,#"1,%*78'(@&1*-(,.5&#*6*(
/C!A!BAEC!MC! =C;:HC=ANO?! >H>U>AD!i!U?HE>MC=AMA!:;!MCEC;B?DE?!MC!UA>IA!M?!^=>;C>=?!AH?`!A!BAEC!MC! =C;:HC=ANO?! X>HAD! CEL>;AMA!MCRC! EC=! U?HE>MC=AMA!:;A!CHL=AMA!MC! UA>IA!A?! X>HAD!M?!U>UD?@!'A=A!MCLC=;>HA=!A!BAEC!MC!=C;:HC=ANO?!X>HAD`! L?=HAWEC!HCUCEE<=>?!^=?dCLA=!?!;?HLAHLC!MC! >HRCEL>;CHL?E! A! EC=! =CAD>]AM?! AH?! A! AH?! G2ABCDAE! Q_! C! QPJ! C! A! MC^=CU>ANO?!M?E! AL>R?E! MA!BAEC!>H>U>AD`!BC;!U?;?!A!M?E!H?R?E!>HRCEL>;CHL?E!A!EC=C;!=CAD>]AM?E!H?!U>UD?!G2ABCDA!YQJ@!-E!LAIAE! MC! MC^=CU>ANO?! AH:AD! :L>D>]AMAE! X?=A;! AE! ;CE;AE! S:C! A! U?HL<B>DeX>EUAD! G[a! ^A=A!C;BA=UANZCE! C! Qca! ^A=A! ?:L=?E! >HRCEL>;CHL?Eo! LABCDA! J@! -! 2ABCDA! YY`! S:C! A^=CECHLA! A!CR?D:NO?!MA!BAEC!MC!=C;:HC=ANO?!DTS:>MA!MCEMC!?!AH?!BAEC!ALi!?!X>HAD!M?!U>UD?!i!=C^=?M:]>MA!A!ECb:>=@!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!>HM>UA=!S:C!MCRnEEC;?E!AM?LA=!?:L=?!CHUA;>HfA;CHL?@!'CD?!U?HL=<=>?`!A! U?HUCEE>?H<=>A! U?HU?=MA!S:C!?E!U?HL=AL?E!UCDCB=AM?E!U?;!A!U?HL=?DAM?=A!MC!XAL?!CELABCDCU>A;!^AbA;CHL?E!C;!RAD?=CE!>HXC=>?=CE!A?E!=CAD>]AM?E@!!"_!+?!>HTU>?!MCEEC!UA^TL:D?!LCUC;?E!ADb:;AE!U?HE>MC=ANZCE!E?B=C!U?;?!EC!MA=<!CEEC!L=ALA;CHL?!HA!^=gI>;A!=CR>EO?@!
!
9"!!
FBVBV K,1,@<=&'(@&.=*-(6*(6,N%,=&*78'(
,E! RAD?=CE! MA! BAEC! MC! =C;:HC=ANO?`! ^?=! EC=C;! U?==>b>M?E`! HO?! EC! ^=CELA;! A! ;CHE:=A=! ?E!RAD?=CE!MC!MC^=CU>ANO?!S:C!^?MC;!EC=!MCM:]>M?E!HA!BAEC!MC!U<DU:D?!M?!>;^?EL?!MC!=CHMA!C!MA!1/44@!!
'?=! ?:L=?! DAM?`! C;B?=A! CEEA! MC^=CU>ANO?! X>EUAD! MCRA! U?HE>MC=A=! ?E! RAD?=CE! f>ELg=>U?E!GH?;>HA>EJ`!?!CXCL>R?!RAD?=!MA!=CM:NO?!MA!UA=bA!L=>B:L<=>A!^CDA!MC^=CU>ANO?!X:L:=A!CEL>;AMA!A!EC=! U?HE>MC=AMA! H?! XD:I?! MC! UA>IA! MCRC! EC=! UADU:DAMA! C;! LC=;?E! =CA>E@! +AE! 2ABCDAE! YK! A! YP!X?=A;!UADU:DAM?E!CEECE!BCHCXTU>?E@!
FBX )*2*(6,(%,#"1,%*78'(
,!U<DU:D?!M?!U:EL?!;iM>?!^?HMC=AM?!MC!UA^>LAD!G1.'1J!CI>bC!?!U<DU:D?!M?E!^=n;>?E($"3(#-30"3($"(0')-+'<()#K)#-"(L'89%3P(%($"(0')-+'<($%(+%#0%-#"3(L$O6-$'PT!
,!=>EU?!M?!UA^>LAD!^=g^=>?!i!?!=>EU?!M?!XD:I?!MC!UA>IA!M?!AU>?H>ELA`!>EL?!i`!?!XD:I?!DTS:>M?!MC^?>E!S:C!?!XD:I?!MC!UA>IA!?^C=AU>?HAD!MA!C;^=CEA!X?=!:EAM?!^A=A!^AbA=!EC:E!U=CM?=CE@!,!AU>?H>ELA`!AEE>;`!U?==C!;A>?=!HTRCD!MC!=>EU?!M?!S:C!?!U=CM?=!MA!C;^=CEA@!
,! =>EU?! M?! UA^>LAD! MC! LC=UC>=?E! i! ?! =>EU?! MA! C;^=CEA! HO?! U?HECb:>=! bC=A=! :;! XD:I?! MC! UA>IA!?^C=AU>?HAD! ^A=A! U:;^=>=! EC:E! U?;^=?;>EE?E! MC! CHM>R>MA;CHL?@! #EECE! =>EU?E! U=CEUC;! h!;CM>MA! S:C! A! C;^=CEA! A:;CHLA! EC:E! HTRC>E! MC! ADARAHUAbC;! X>HAHUC>=A"P@! '?=! >EE?`! A!MCLC=;>HANO?!MCEECE!^=n;>?E!i!AEE?U>AMA!A!X?=;AE!MC!X>HAHU>A;CHL?!M?E!AL>R?E@!
-^:=AM?E! ?E! U:EL?E! M?E! UA^>LA>E! ^=g^=>?! C! MC! LC=UC>=?E`! UADU:DAWEC`! ^CDA! ^?HMC=ANO?! MCEECE!U:EL?E!^CDA!ADARAHUAbC;!U?HE>MC=AMA`!?!U:EL?!;iM>?!^?HMC=AM?!MC!UA^>LAD!1.'1@!!!
-!CS:ANO?!M?!U<DU:D?!M?!U:EL?!M?!UA^>LAD!^=g^=>?!i!A!ECb:>HLC(!
!
,HMC(!
(!)#R5-"($%(#-30"()'O3!j!=>EU?!MCU?==CHLC!MC!;?=ALg=>A!:H>DALC=AD!?:!MCU?==CHLC!MC!U=>EC!MC!BADAHN?!MC!^AbA;CHL?E!
(!)#R5-"($%(#-30"(0'5>-'<!j!=>EU?!MCU?==CHLC!MA!RA=>ANO?!M?!^?MC=!MC!U?;^=A!>HLC=HAU>?HAD!MA!;?CMA!
(!5%$-$'($%(#-30"(&7"($-6%#3-;-046%<(L3-3+%54+-0"P!j!UADU:DAM?!C;!=CDANO?!A!:;!^?=LX?D>?!M>RC=E>X>UAM?!S:C!CELCdA!HA!qX=?HLC>=A!CX>U>CHLCr!?:!qU:=RA!MC!.A=�?�>L]r!
(! .#R5-"( $"( )"#+;"<-"( $-6%#3-;-0'$"( %;-0-%&+%! j! =CL?=H?! '0#'$!/&! MC! :;! ^?=LX?D>?!M>RC=E>X>UAM?!AU>;A!M?!=CL?=H?!M?!AL>R?!D>R=C!MC!=>EU?@!
'A=A!?!U?;^?HCHLC! `!:L>D>]A;?E!A!2AIA!MA!+2+)W9[j!MC!XCRC=C>=?!MC!YcQQ`!MC!F`9Ka!W`!^?>E!CELA!U?;^=CCHMC!A!LAIA!D>R=C!MC!=>EU?`!?!=>EU?!UA;B>AD!C!?!=>EU?!MC!C;>EEO?@!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"P! -! ADARAHUAbC;! X>HAHUC>=A! =C^=CECHLA! A! ^=?^?=NO?! ?:! =CDANO?! MC! UA^>LAD! MC! LC=UC>=?E! C;! =CDANO?! A?! UA^>LAD! ^=g^=>?! H?!
X>HAHU>A;CHL?!M?E!AL>R?E!MA!C;^=CEA@!
!
99!!
'A=A! ?! U<DU:D?! M?! )CLA! :L>D>]?:! ?! )CLA! M?! ECL?=! MC! L=AHE^?=LCE! 7D?BAD9c`! MCEADARAHUAM?! C;!=CDANO?! h! ADARAHUAbC;! MC!;C=UAM?`! C! ADARAHUAM?! ^A=A! ?! HTRCD! MC! ADARAUAbC;! CE^C=AMA! MA!U?HUCEEO?!GKcaJ@!,!RAD?=!M?!)CLA!GADARAHUAM?JADUAHNAM?!X?>!Q`YK@!
1?;?!^=n;>?!MC!;C=UAM?`! AM?LA;?E!A! RA=>ANO?!MA! /'[cc!C;! =CDANO?!h! RA=>ANO?!M?E! LTL:D?E!A;C=>UAH?E`!MCEMC!?!>HTU>?!MA!Ei=>CGFaJ@!
+?!U<DU:D?!M?!BCHCXTU>?!X>EUAD!=CDAL>R?!A?!CHM>R>MA;CHL?`!U?HE>MC=A;?E!?!U:EL?!H?;>HAD!MCELC@!!
-! ^A=L>=! MCEECE! ^=?UCM>;CHL?E`! A^:=AWEC! ?! U:EL?! MC! UA^>LAD! ^=g^=>?! C;! LC=;?E! H?;>HA>E! C`!MC^?>E`!MCEU?HLAWEC!A!'(#',-!-%.!!MC!>HXDANO?!X:L:=A!MC!D?Hb?!^=A]?!GU?HE>MC=AMA!MC!9`[aJ@!,!1:EL?!M?!1A^>LAD!^=g^=>?!H?;>HAD`!CHLO?`!X?>!A^:=AM?!MA!ECb:>HLC!X?=;A(!
!!!! ! ! !!!"# ! ! ! !!!" ! ! ! !!!!" ! !"!
,!U:EL?!MA!MTR>MA!AL:AD!MA!2\)!S:C!X?>!U?HE>MC=AM?!i!MC!Qc`Qa!A@A@`!=CE:DLAM?!MA!E?;A!MA!2k4'!GF`YaJ!U?;!:;!E^=CAM!MC!"`_a@!,!RAD?=!H?;>HAD!i!MC!Q[`QQa@!
1?;!BAEC!H?E!MAM?E!A^=CECHLAM?E!C!HA!ADARAHUAbC;!CEL>;AMA!MC!Kca`!!MCLC=;>HA;?E!?!U:EL?!;iM>?!MC!UA^>LAD!G1.'1J(!
!
,HMC(!
(!U:EL?!MC!UA^>LAD!MC!LC=UC>=?E!HA!ADARAHUAbC;!gL>;A!
(!U:EL?!MC!UA^>LAD!^=g^=>?!HA!ADARAHUAbC;!X>HAHUC>=A!gL>;A!
(!ADTS:?LA!MC!>;^?EL?!MC!=CHMA!S:C!EC=!L=AM:]!C;!BCHCXTU>?!X>EUAD!MA!MTR>MA9Q
(!HTRCD!ADARAHUAbC;!X>HAHUC>=A!gL>;A!
! ,HMC(!
! (!RAD?=!MA!MTR>MA!H?!HTRCD!gL>;?!MC!CHM>R>MA;CHL?!
(!RAD?=!MAE!ANZCE!H?!HTRCD!gL>;?!MC!CHM>R>MA;CHL?!
1?;?!^?MC!EC=!?BEC=RAM?!HA!Xg=;:DA`!?!U:EL?!MA!MTR>MA!MCRC!EC=!UADU:DAM?!D>R=C!MC!>;^?EL?E`!LCHM?!C;!R>ELA!S:C!?!^AbA;CHL?!MC! d:=?E! >HM>UAM?E!H?E! >HEL=:;CHL?E!MC!MTR>MA!i!MCM:LTRCD!^A=A!X>HE!MC!A^:=ANO?!M?!&*e1/44@!!
%L>D>]AHM?!?E!RAD?=CE!C!A!Xg=;:DA!A^=CECHLAMA`!LC;?E!?E!ECb:>HLCE!=CE:DLAM?E(!
!"#! ! !"!!"!!! ! ! !"# !!!!"# ! !"#!!! !"# !
!"!# ! !"!!"!
2CHM?!C;!R>ELA!?!1.'1!H?;>HAD(C!A! >HXDANO?!MC!D?Hb?!U?HE>MC=AMA!^=A]?!G9`[aJ`!UADU:DAWEC!?!1.'1!=CAD!A!EC=!:L>D>]AM?!U?;?!LAIA!MC!MCEU?HL?!M?!XD:I?@9Y!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!9c)CLA!MC!L?MAE!AE!C;^=CEAE!MC!L=AHE^?=LC!MC!UA^>LAD!ABC=L?!^?HMC=AM?!^?=!EC:E!RAD?=CE!C;!MgDA=CE@!
9Q+?!)=AE>D`!^A=A!C;^=CEAE!S:C!:L>D>]A;!A!A^:=ANO?!MC!D:U=?!=CAD`!CEEA!ADTS:?LA!i!MC!"9a�Y[a!&*�Pa1/44@!
!
9[!!
,E!U<DU:D?E!>HM>UAM?E!HCELA!ECNO?!j!XC>L?E!HAE!2ABCDAE!"c!A!"Y!j!EO?!=CE:;>M?E!A!ECb:>=@!
A'>%<'(_(B(!C.!(B(!:3+"(5?$-"()"&$%#'$"($%(0')-+'<(
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!9Y^"( )#%3%&+%( +#'>'<="( )#"0%$%:B3%( -&-0-'<5%&+%( Q( %3+-5'+-6'( $"( !C.!( &"5-&'<( J:%( ;"-S( )"3+%#-"#5%&+%S( $%;<'0-"&'$"(
%5)#%M'&$"B3%( '( ;K#5:<'( $%( [-3=%#S( '( ;-5( $%( ">+%#( :5'( +'@'( $%( $%30"&+"( '$%J:'$'( )'#'( '6'<-'#( "( ;<:@"( $%( 0'-@'( #%'<( $'(0"&0%337"T(#EEC!^=?UCM>;CHL?!CD>;>HA!M>EL?=NZCE!MC!ARAD>ANO?!MCU?==CHLCE!M?!C;^=Cb?!M>=CL?!M?!UfA;AM?!1.'1!=CAD`!M>EL?=NZCE!CELAE!MCU?==CHLCE!M?!XAL?!MC!S:C!?!1.'1!=CAD!HO?!UA^L:=A!AMCS:AMA;CHLC!?E!CXC>L?E!M?!LC=;?!!! ! !!!HA!Xg=;:DA!M?!U:EL?!;iM>?!^?HMC=AM?!MC!UA^>LAD@!!'A=A!:;A!CI^D>UANO?!MCLADfAMA`!RC=!I>!)"'"J'*K<L!$'7!"MI>!)N"O&0'#>"!8/"J'*'K<L!$'7!N"PF8!,%&N"Q%**"->'"
R'+*!-'/" QBSS" L*'!0'" T-!8/" U#V" B8/" ->'" W'!*" QBSS" T>&2*/" T%-" R&X8" MD!A" YZN" Y[\[]H" S2!/'$8&0" ^!-%8&!)'$%,!8&0" /'"
B/)%8%0-$!,%_8N"J&*H"JP"`&H"\YN"O2*%&< R%,%')4$'"Y[\\H"B.!%*!4*'"!-""TTW`(!fLL^(eeEE=H@U?;eABEL=AUL�QFQKFFP?=fLL^(eeMI@M?>@?=beQc@YQ"PeEE=H@QFQKFFPJ@! +AE! ^ADAR=AE! MCEECE! A:L?=CE! q!"5"( 0"&0<:37"(M%#'<S()'#'(0"&3-3+R&0-'(&"()#"0%33"($%(6'<"#'87"S($%6%5"3(:3'#("(!C.!(t&"5-&'<u($%;<'0-"&'$"!A?! >HRiE!M?!1.'1!=CAD!)'#'($%30"&+'#(;<:@"3($%(0'-@'(#%'-3(C!?!1.'1!H?;>HAD!^A=A!MCEU?HLA=!XD:I?E!MC!UA>IA!H?;>HA>Er!G^@!>>J@!GMCELAUA;?EJ!
!
9F!!
9,."-5*6'.(&
VBC (0.N,=5'.(R,%*&.(
1?;?!d<!>HX?=;AM?`!?E!=CE:DLAM?E!X>HA>E!MA!=CR>EO?!LA=>X<=>A!EO?!?BL>M?E!^?=!;C>?!M?!0D:I?!MC!1A>IA!4>R=C!3CEU?HLAM?`!^A=A!?!S:AD!?!UA^TL:D?!9!X?=HCUC:!?E!^=>HU>^A>E!MAM?E!MC!CHL=AMA`!S:A>E!ECdA;(!
• 3C;AHMA!G2ABCDA!1Jo!
• 1:EL?E!?^C=AU>?HA>E!G,'#}J!G2ABCDA!Q[Jo!
• )AEC!MC!=C;:HC=ANO?!>H>U>AD!G2ABCDA!YYJo!
• &HRCEL>;CHL?E!X:L:=?E!G1-'#}J!G2ABCDA!QPJo!
• )AEC!MC!=C;:HC=ANO?!X>HAD!G2ABCDA!YYJo!C!
• 1:EL?!;iM>?!^?HMC=AM?!MC!UA^>LAD!G2ABCDA!"cJ@!
#ELC! UA^TL:D?! L=ALA! M?! ;?MCD?! X>HAHUC>=?! H?! S:AD! CEECE! MAM?E! EC=O?! >HEC=>M?E! C! A^D>UAM?E`!CHR?DRCHM?`!CE^CU>AD;CHLC`!A!CEL=:L:=A!MC!LA=>XAEe=CUC>LAE!C!?!;?MCD?!MC!XD:I?!MC!UA>IA!C;!E>@!
-M>U>?HAD;CHLC`!LCHM?!C;!R>ELA!S:C!f<!MCXAEAbC;!CHL=C!A!MALA!BAEC!MA!=CR>EO?!C!A!A^D>UANO?!MAE!LA=>XAE!=CR>EAMAE`!X?>!U?HLC;^DAM?!?!CXC>L?!X>HAHUC>=?!MCEEA!MCXAEAbC;!H?!XD:I?!MC!UA>IA@!!
#;!XCRC=C>=?!MC!YcQY!j!M?]C!;CECE!A^gE!A!MALA!BAEC!MA!=CR>EO?!^C=>gM>UA!j!MCRC=>A!LC=!E>M?!=CAD>]AM?!?!=CAd:ELC!LA=>X<=>?!AH:AD!MAE!LA=>XAE!^CD?!&7'W.e075`!;?L>R?!^CD?!S:AD!CELC!^=CU>E?:!EC=!UADU:DAM?!A!X>;!MC!S:C!^?EEA!EC=!>;^DC;CHLAM?!C;!U?Hd:HL?!U?;!?E!=CE:DLAM?E!MA!=CR>EO?!^C=>gM>UA@!
,E!Lg^>U?E!ECb:>HLCE!L=ALA;!MC(!
• '=?dCNO?!MAE!=CUC>LAEo!!
• XD:I?!MC!UA>IA!?^C=AU>?HAD!C!D>R=C!C!=CE:DLAM?E!MA!=CR>EO?!LA=>XA=>Ao!
• =CAd:ELC!MAE!LA=>XAE!^CD?!&7'W.e075o!!
• LA=>XA!X>HADo!C!
• RAD?=!MC!MCECS:>DTB=>?!MCU?==CHLC!MA!MCXAEAbC;!HA!A^D>UANO?!M?!&7'W.e075@!
,E!=CE:DLAM?E!MCEECE!^=?UCEE?E`!^=CECHLCE!H?E!Lg^>U?E!>HM>UAM?E`!U?;^=CCHMC;(!
• '=?dCNO?! MA! =CUC>LA! CEL>;AMA! HA! MALA! BAEC! MA! =CR>EO?! GXCReYcQQJ`! AEE>;! U?;?!U?==CE^?HMCHLC! LA=>XA! =CR>ELA! Gc`cQFaJ`! UADU:DAMA! ^A=A! EC=! A^D>UAMA! C;! Y"! MC! d:Hf?!^@X@o!!
• ^C=UCHL:AD! MC! =CAd:ELC! ^CD?! &7'W.! C;! XCRC=C>=?! MC! YcQY! G[`QcaJ`! S:C! MCRC=<! EC=!AM>U>?HAM?!A?!Ad:ELC!MCU?==CHLC!MA!=CR>EO?!LA=>X<=>Ao!!
• ?!Ad:ELC!X>HAD!A!EC=!A^D>UAM?!hE!LA=>XAE!R>bCHLCE!G[`QQ9aJ!!
• U<DU:D?! M?! MCECS:>DTB=>?! ^CDA! MCXAEAbC;! HA! A^D>UANO?! M?! =CAd:ELC! LA=>X<=>?! GHO?!A^D>UANO?!M?!&7'W.!^?=!S:AL=?!;CECE@!
VBA (I%'T,78'(6*.(%,=,&5*.(
-!MCX>H>NO?!MC!:;!;?MCD?!MC!XD:I?!MC!UA>IA!MC^CHMC!MA!U?HEL=:NO?!MC!:;!;?MCD?!MC!=CUC>LA@!
#EEA!U?HEL=:NO?`!^?=!E:A!RC]`!=CDAU>?HAWEC!M>=CLA;CHLC!U?;!?E!MAM?E!MC!MC;AHMA!^=?dCLAM?E!
^A=A!?!U>UD?!LA=>X<=>?`!;:DL>^D>UAM?E!^CDA!LA=>XA!;iM>A!^?HMC=AMA@!!
!
9K!!
-!LA=>XA!;iM>A!^?HMC=AMA!X?>!MCLC=;>HAMA!U?HE>MC=AHM?!?E!M>XC=CHLCE!RAD?=CE!S:C!EC!A^D>UA;!
^A=A! M>AE! lLC>E! C! M>AE! HO?WlLC>E! C! ?E! M>XC=CHLCE! b=:^?E! MC! :E:<=>?E! G^AEEAbC>=?E! ^AbAHLCE`!
b=AL:>MAMCE!C!RCTU:D?E!U?HX?=;C!?!^?=LCJ`!U?;?!;?EL=A;!AE!2ABCDAE!"[!A!"K@!!-!2ABCDA!""`!^?=!
EC:! L:=H?`! CEL>;A!^C=UCHL:AD! MC! =CUC>LA! MCU?==CHLC!MC!:E:<=>?E! MA! UDAEEC! CICU:L>RA! Gc`QKaJ`!
U:d?!=CE:DLAM?!X?>!U?HE>MC=AM?@!!!
-E!=CUC>LAE!AUCEEg=>AE!X?=A;!UADU:DAMAE!U?;!BAEC!H?!^C=UCHL:AD!MCEEAE!E?B=C!AE!=CUC>LAE!L?LA>E!H?!-H?!)AEC`!U?HX?=;C!)ADAHN?!MC!YcQc!GY`K"a`!2ABCDAE!9Q!C!9YJ@!!
1:;^=C! EC=! MCELAUAM?! S:C! L?MAE! AE! =CUC>LAE! AU>;A! EO?! CEL>;AMAE`! -&0<:3-6%( '( $"( /&"( l`! d<!L=AHEU?==>M?@!!
,E!RAD?=CE!^=?dCLAM?E!^A=A!?!-H?!Q!EO?!;?EL=AM?E!HA!2ABCDA!"_`!=C^=?M:]>MA!ABA>I?(!
A'>%<'([(Z(,%5'&$'(%(H%0%-+'3()'#'("('&"(l(
!
$:AHL?! A?E! MAM?E! =CDAL>R?E! A?! L=AHE^?=LC! MC! RCTU:D?E! ^CEAM?E! GUA;>HfZCE`! VH>B:E`! ;>U=?WVH>B:E`!dA;AHLAE!C!?:L=?EJ`!U?HE>MC=A;?E!S:C!A!=CUC>LA!A!EC=!A:XC=>MA!^?=!EC:E!ALCHM>;CHL?E!;AHLC=>A`! C;! =CDANO?! h! =CUC>LA! LA=>X<=>A! L?LAD`! A!;CE;A! ^=?^?=NO?! S:C! A^=CECHLA! H?! CM>LAD`!>b:AD!A!F`Ka@!!
-E! ^=?^?=NZCE!:L>D>]AMAE! AU>;A`! =CDAL>RAE! hE! MC;AHMAE!M?E!M>AE! lLC>E! C! HO?WlLC>E`! Ln;! U?;?!X:HMA;CHL?!A!;iM>A!H?!^C=T?M?!MC!Qm!MC!H?RC;B=?!MC!YcQc!A!"Q!MC!?:L:B=?!MC!YcQQ`!U?;?!d<!X?>!>HX?=;AM?!H?!Lg^>U?!9@Y@!!
#ICU:LAM?E!CEECE!^AEE?E`!i!^?EETRCD!?BLC=!?!Ad:ELC!HCUCEE<=>?!A!EC=!A^D>UAM?!E?B=C!A!LA=>XA!AL:AD!
^A=A!S:C!A!=CUC>LA!L?LAD!ECdA!AS:CDA!HCUCEE<=>A!A?!CS:>DTB=>?!MA!U?HUCEEO?`!AEE>;!CHLCHM>MA!A!
=CUC>LA!S:C!AEECb:=A!:;!XD:I?!MC!UA>IA!MCEU?HLAM?!MAE!CHL=AMAE!C!EATMAE!CEL>;AMAE!G=CUC>LAE`!
>HRCEL>;CHL?E! C! U:EL?EJ! U:dA! 2&*! W! 2AIA! &HLC=HA! MC! *CL?=H?! ECdA! >b:AD! A?! 1:EL?! .iM>?!
'?HMC=AM?! M?! 1A^>LAD! AM?LAM?! GECNO?! 9@FJ@! +CELC! U?HLCIL?`! CEECHU>AD! DC;B=A=! S:C! A! 2&*! i! A!
LAIA!MC!MCEU?HL?!S:C`!A^D>UAMA!A?!XD:I?!MC!UA>IA`!L?=HA!H:D?!EC:!RAD?=!^=CECHLC!DTS:>M?!G5'4J@!!
,! AL=AE?! HA! >;^DC;CHLANO?! MA! =CR>EO?! LA=>X<=>A! j! MC! QF! ;CECE! j! LCRC! EC:! CXC>L?! DTS:>M?!MCM:]>M?! U?;?! EATMA! MC! UA>IA! H?! ^=>;C>=?! AH?! M?! U>UD?@! 1?HE>MC=AHM?! ?E! =CE:DLAM?E!RC=>X>UAM?E`!X?>!MCM:]>M?!M?!XD:I?!MC!UA>IA!DTS:>M?!M?!AH?!Q!?!RAD?=!MC!A^=?I>;AMA;CHLC!*~!QY!;>D@
\(6'<"#(&%0%334#-"($%('*:3+%()'#'(;%6%#%-#"($%(p1ll(L-&O0-"($"('&"(l($"(0-0<"(+'#-;4#-"P(3%#-'(
$%((1S1lFvT((
!"#"$%&' (")*+",-./*"01&2&*%",
%")*+3)*"
!"''"#&*)4' 56778698:,,,,, ;<=8,,,,,,,,,,,,,,,,, 7768==6=>7,,,
?&@2AB4' 9>565=7,,,,,,,,, =9<:8,,,,,,,,,,,,,, 7C6978678;,,,
-4%4 9C6=9=,,,,,,,,,,,, D5<:D,,,,,,,,,,,,,, D67>96=::,,,,,
EA%)4' =6C7569>9,,,,,
(4%"B 5;6;856C87,,,
("F&B",=:,G,1&2&*%",G,(4%"B,H)4I&%"/4,H")","$4,D,24J,%")*+"',,K*#&$%&'
!
9_!!
VBE Y-"2'(6,(=*&2*(
#;!MCU?==nHU>A!MAE!^=C;>EEAE!>HM>UAMAE!H?!UA^TL:D?!9!C!HA!ECNO?![@Y`!?!XD:I?!MC!UA>IA!CEL>;AM?!MA! U?HUCEEO?`! HA! MALA! BAEC! MC! XCRC=C>=?! MC! YcQQ! C! ^A=A! ?! L?M?! ?! U>UD?! LA=>X<=>?`! CEL<!=C^=CECHLAM?!HA!LABCDA!ECb:>HLC@!
A'>%<'(e(B([<:@"($%(0'-@'(
!
VBF 9,*T".5,(6*.(5*%&@*.(N,-'(3ZI?D[YZ\((
-Di;!MA!=CR>EO?!LA=>X<=>A`!XA]WEC!HCUCEE<=>?!?!=CAd:ELC!M?!U?HL=AL?!^CD?!THM>UC!U?HL=AL:AD!G&7'W.e075J@!$:ADS:C=!S:C!X?EEC!?!=CE:DLAM?!MA!=CR>EO?`!LCHM?!C;!R>ELA!S:C!CELC!=CXC=CWEC!h!MALA!BAEC!MC! XCRC=C>=?!MC!YcQY!C! AS:CDA! h!MALA!BAEC!MC! XCRC=C>=?!MC!YcQQ`!?! =CAd:ELC! U?HL=AL:AD!LC=>A!S:C!EC=!E?;AM?!A?E!=CE:DLAM?E!RC=>X>UAM?E@!!
,! ^C=UCHL:AD! MC! =CAd:ELC! M?! &7'W.e075! MC!;A=N?! MC! YcQQ! A! XCRC=C>=?! MC! YcQY! i! MC! [`Qa@!1?;?!HO?!f?:RC!LAD!=CAd:ELC!HA!?^?=L:H>MAMC`!X?>!U?HE>MC=AM?!S:C!R>=<!A!EC=!CXCL>RAM?!C;!Y"!MC!d:Hf?!MC!YcQY`!U?;!ADb:HE!;CECE!MC!MCXAEAbC;@!!
1ADU:DA;?E! A! >;^DC;CHLANO?! MCELC! =CAd:ELC! ^A=A! A! ;CE;A! MALA! MA! >;^DC;CHLANO?! M?E!=CE:DLAM?E!MA!=CR>EO?!LA=>X<=>A@!!
#;B?=A! A!MALA!^=CR>ELA!^A=A!CHL=AMA!C;!R>b?=!M?! =CAd:ELC! ECdA! A!;CE;A!MA! >;^DC;CHLANO?!M?E!=CE:DLAM?E!MA!=CR>EO?!LA=>X<=>A`!U:;^=C!?BEC=RA=!S:C!CEEC!=CAd:ELC!HO?!EC!U?;:H>UA!U?;!?!;?MCD?!MC!XD:I?!MC!UA>IA@!
VBV )*%&@*.(@&1*&.(,#(AE(6,(T"1]'(6,(A^CA(
-E!LA=>XAE!=CE:DLAHLCE!MA!A^D>UANO?!M?!Ad:ELC!MA!=CR>EO?!LA=>X<=>A!C!M?!&7'W.e075`!S:C!L?LAD>]A;![`QQ9a`!CELO?!=C^=CECHLAMAE!HA!LABCDA!=C^=?M:]>MA!A!ECb:>=@!
!
9P!!
A'>%<'(w B A'>%<'($%(+'#-;'3
!
VBX S,.,;"&-<+%&'(1*(6,@*.*R,#(6'(%,*T".5,(
1?;?!A^?HLAM?!H?!UA^TL:D?!"`!A!HO?!U?HUCEEO?!MC!=CAd:ELCE!LA=>X<=>?E!H?!LC;^?!MCR>M?!>;^D>UA!A!HCUCEE>MAMC!MC!=CU?HfCU>;CHL?!MC!:;!MCECS:>DTB=>?@!&EE?!EC!A^D>UA!^A=A!?!=CAd:ELC!LA=>X<=>?!S:C!^?MC=>A!LC=!?U?==>M?!H?!>HTU>?!MCELC!AH?@!!
-! =CU?;^?E>NO?! M?! CS:>DTB=>?! CU?HV;>U?WX>HAHUC>=?! ?:! =CR>EO?! CIL=A?=M>H<=>A! =CDAL>RA! A! CEEC!MCECS:>DTB=>?!^=CU>EA!U?HE>MC=A=!?!CXCL>R?!>;^AUL?!MCEEA!MCXAEAbC;!HA!U?HUCEEO?!M?!=CAd:ELC!LA=>X<=>?`! ?! S:C! CI>bC! EABC=`! ^CD?! ;CH?E`! ?! R?D:;C! CXCL>R?! MC! :E:<=>?E! L=AHE^?=LAM?E! H?!^C=T?M?!C!A!L=>B:LANO?!>HU>MCHLC@!!
'A=A!?!U<DU:D?!MCEECE!MCECS:>DTB=>?E`!XA]WEC!HCUCEE<=>?!?!U<DU:D?!M?!RAD?=!H?;>HAD!C!A!U?==CNO?!M?E!RAD?=CEo!^?=! >EE?`!i! >;^?=LAHLC!MCX>H>=! A! LAIA!A! EC=!:L>D>]AMA!^A=A! L=A]C=!A! RAD?=!^=CECHLC!GU?==>b>=J!RAD?=CE!^AEEAM?E!C`!EC!X?=!?!UAE?!MC!CEL>;AL>RA!MC!RAD?=CE!X:L:=?E`!A!LAIA!MC!MCEU?HL?!A^=?^=>AMA@!
+?!UAE?!MC!MCECS:>DTB=>?! d<!;ALC=>AD>]AM?`!S:AHM?!CELC!X?=!MC!^C=T?M?E!=CDAL>RA;CHLC!U:=L?E`!^?=! CIC;^D?`! >HXC=>?=! A! EC>E!;CECE`! ^?MCWEC!:L>D>]A=! H?! U<DU:D?!:;A! LAIA!MC! U:=L?!^=A]?!S:C!=CXD>LA!?E!XAL?=CE!AU>;A!A^?HLAM?E`!U?;?!i!?!UAE?!MA!/#4&1`!S:C!i!A^LA!A!=C;:HC=A=!A!LAIA!D>R=C!MC!=>EU?`!?!=>EU?!^ATE`!?!=>EU?!UA;B>AD!C!A!LAIA!MC!>HXDANO?!C;!^C=T?M?E!=CDAL>RA;CHLC!U:=L?E@!!
$:AHM?!?!RAD?=!M?!MCECS:>DTB=>?!=CXC=>=WEC!A!RAD?=CE!X:L:=?E!C!?!U<DU:D?!X?=!XC>L?!!"#$%&$%`!!C!^?=!CEL>;AL>RA`!^?MCWEC!U?HRCHU>?HA=!S:C!A!LAIA!MC!MCEU?HL?!M?!XD:I?!^?MC=<!EC=!?!1:EL?!.iM>?!'?HMC=AM?!MC!1A^>LAD!G1.1'J!M?!;?;CHL?!M?!U<DU:D?`!^?>E`!HCELA!A!f>^gLCEC`!?!=>EU?!M?!>LC;!UADU:DAM?`!S:AHM?!D>bAM?!A?!HCbgU>?!G=CUC>LA`!^=A]?`!CLU@J`!MCRC!EC=!CS:>RADCHLC`!C;!;iM>A`!A?!=>EU?!;iM>?!M?!HCbgU>?@!!
'A=A!?!UAE?!?=A!AHAD>EAM?`! LCHM?!C;!R>ELA!A!^C=E^CUL>RA!MC!S:C! >HLC==:^NO?!M?!MCECS:>DTB=>?!C;!^C=T?M?!;:>L?!U:=L?`!:;A!LAIA!MC!U:=L?!^=A]?`!U?;?!A!/#4&1`!^A=A!A^:=ANO?!M?!RAD?=!M?!MCECS:>DTB=>?! ^A=CUC! AMCS:AMA@! &EE?! MC^CHMC`! U?HL:M?`! MCEEC! MCECS:>DTB=>?! EC=! U?;^CHEAM?!^?=!ADb:;A!;CM>MA!MC!=CCS:>DTB=>?!H?!U:=L?!^=A]?@!1AE?!EC!MCU>MA`!^?=!CIC;^D?`!>HEC=>=!?!RAD?=!C;!MCECS:>DTB=>?!H?!XD:I?!MA!=CR>EO?`!:;A!LAIA!MC!U:=L?!^=A]?!HO?!EC=>A!AMCS:AMA@!!
'A=A!=CAD>]A=!CEEC!U<DU:D?!EO?!HCUCEE<=>AE!>HX?=;ANZCE!E?B=C!A!S:AHL>MAMC!CXCL>RA!MC!:E:<=>?E!M?E! EC=R>N?E! H?! ^C=T?M?! MC! MCECS:>DTB=>?! G^C=T?M?! MC! MCXAEAbC;! M?! =CAd:ELCJ`! AEE>;! U?;?!
!"#$%"&'()'*$&+,-"'.,##/'0)"+
1)("2$("(, *,34*,5 *"647)-4.,# *,34*,5 *"647)-4.,#
8"&&"3,$#) 9:;< <:= >:?<'''''''''''''''''' <:>@''''''''''''''''''
A,6)BC, 9=:<< ><:= 9>:=?'''''''''''''''' >@:<D''''''''''''''''
EF$6C& ?9<:G< ?;?:9< ?>=:<@'''''''''''''' =D?:?D''''''''''''''
H"-"F+" ?;G:@< =@@:G< =DG:@I'''''''''''''' =;?:ID''''''''''''''
JC+)'3#"F(, >=:> <;:<< >>:<G'''''''''''''''' G=:<;''''''''''''''''
JC+)'K,BC,F) 99:9 >G:@ 9<:DD'''''''''''''''' >;:DI''''''''''''''''
L"-$FMN)'&$-K2,& ?DD:=< ?>?:9 ?D<:9G'''''''''''''' ?>I:<D''''''''''''''
L"-$FMN)'+#CO"() ?9<:G< ?;?:9< ?>=:<@'''''''''''''' =D?:?D''''''''''''''
P+$2$+Q#$)'4'-$O#)RF$6C& GD:G I<:9 G9:G;'''''''''''''''' I;:G<''''''''''''''''
1)+)O$O2,+"'4'2"-6#,+" ?9:I ?;:?< ?>:<D'''''''''''''''' =D:?9''''''''''''''''
0$O$O2,+"'4'O"##)S(,S-N) ?D:<< ?>:<< ??:D;'''''''''''''''' ?<:=;''''''''''''''''
L2"&&,'T5,OC+$U" I:<< ??:<< I:;;'''''''''''''''''' ?=:?>''''''''''''''''
!"6,2"'>@'S'!"#$%"&'S'!"6,2"'(,'+"#$%"&
!"#$%"&'V$3,F+,& !"#$%"&'#,U$&"("&
!
[c!!
E?B=C!A!;CM>MA!MC!=CCS:>DTB=>?!A!EC=!:L>D>]AMA@!1=C;?E`!U?HL:M?`!S:C!A!MC;AHMA!:L>D>]AMA!^A=A!X>HE!MA!=CR>EO?!HO?!i!A^=?^=>AMA!^A=A!LAD!X>;o!EC!?!=>EU?!MC!MC;AHMA!i!MA!U?HUCEE>?H<=>A`!C;!LA>E! U<DU:D?E! MCRC;! EC=! U?HE>MC=AMA! A! MC;AHMA! CXCL>RA@! '?=! ?:L=?! DAM?`! H?E! ^A=CUC! S:C! A!X?=;A! MC! =CCS:>DTB=>?! LA;Bi;! ^=CU>EA! EC=! MCX>H>MA! ^=CR>A;CHLC! A?! U<DU:D?`! LCHM?! C;! R>ELA`!>HUD:E>RC`!S:C!HO?!H?E!^A=CUC=>A!=A]?<RCD!E>;^DCE;CHLC!>HEC=>=!CEECE!RAD?=CE!H?!XD:I?!MC!UA>IA!MA! =CR>EO?@! -EE>;`! LADRC]`! A! ;CDf?=! X?=;A! ECdA! A! U?;^CHEANO?! MCEEAE! ?B=>bANZCE! MA!U?HUCEE>?H<=>A! U?;! ADb:;A! ?B=>bANO?! MCELA! ^A=A! U?;! ?! b?RC=H?`! =CM:]>HM?`! A>HMA! S:C! C;!^CS:CHA!;CM>MA`!AE!HCUCEE>MAMC!MC!A^?=LC!MC!UA^>LAD@!
!
!
!
!"#"$%&'&()*+,)+
&-./%"
'&()*+
0)**$1$,)
234&#%)+
(56.$,)+7)+
8(.9)+,"+
0&$9&
:&*;) <==++++++++++++++++ >?<=++++++++++++++ @"($# A?==B C?A++++++++++++++++ D?E++++++++++++++
FG*$( <==++++++++++++++++ >?<=++++++++++++++ @"($# A?==B C?E++++++++++++++++ D?=++++++++++++++
:&$)+ <==++++++++++++++++ >?<=++++++++++++++ @"($# A?==B >?H++++++++++++++++ E?I++++++++++++++
J.7K) <==++++++++++++++++ >?<=++++++++++++++ @"($# A?==B >?E++++++++++++++++ E?D++++++++++++++
!"#$% &''(((((((((((((((( )'*&(((((((((((((( )&*+(((((((((((((( ,-*+((((((((((((
F7"9)+22+L+0M(#.()+,)+,"/"6.$(5G*$)+G*.%)+"+$34&#%)+(56.$,)+7)+N(.9)+,"+#&$9&
O9&+,"+!"3.7"*&;P)
!
[Q!!
U,=,..&6*6,(6,(=*N&5*-('
-!HO?!UA^>LAD>]ANO?!MA!2\)!^?=!^A=LC!MC!EC:!U?HL=?DAM?=!X?>!A;^DA;CHLC!MCBAL>MA!C;!H?EE?!L=ABADf?@! #;! ETHLCEC`! fAR>A! HCUCEE>MAMC! MC! A^?=LC! >H>U>AD! MC! *~! F! ;>DfZCE`! ADi;! MC! *~! Yc!;>DfZCE!A?!D?b?!M?!^DAH?!MC!>HRCEL>;CHL?E@!,!AU>?H>ELA!D>;>L?:WEC!A!A^?=LA=`!LO?!E?;CHLC`!*~!Y9@9cc`cc!GR>HLC!C!S:AL=?!;>D!C!S:AL=?UCHL?E!=CA>EJ`!U?;^DCLAHM?!?E!*~!F!;>DfZCE!U?;!BCHE!M?!>;?B>D>]AM?! MA! U?HL=?DAM?=A! S:C! dA;A>E! EC=R>=A;! h! U?HUCEE>?H<=>A@! 1AE?! HO?! fAdA! :;A!E>bH>X>UAL>RA! UA^>LAD>]ANO?! MA! U?HUCEE>?H<=>A`! S:C! AEECb:=C! ?! CELABCDCU>;CHL?! MC! AMCS:AMAE!U?HM>NZCE! ^AL=>;?H>A>E! C! X>HAHUC>=AE`! CHLCHMC;?E! >HR><RCD! A! =CRC=EO?! M?! S:AM=?! MC!MCLC=>?=ANO?! MA! E>L:ANO?! MA! C;^=CEA! C`! U?;?! MCU?==nHU>A`! M?E! EC=R>N?E! ^lBD>U?E! ?BdCL?! MA!U?HUCEEO?@!!
,E! AU?HLCU>;CHL?E! ?BEC=RAM?E`! U?;?! AS:CDCE! S:C! DCRA=A;! h! AEE>HAL:=A! C! 2C=;?! MC!-d:ELA;CHL?! MC! 1?HM:LA! G2-1J! j! ^=CELANO?! MC! EC=R>N?! >HAMCS:AM?! C! MCX>U>CHLC`!MCEU:;^=>;CHL?! MC! UD<:E:DAE! U?HL=AL:A>E! ?:! M>E^?E>NZCE! DCbA>E! ?:! =Cb:DA;CHLA=CE`! HO?!U:;^=>;CHL?!MC!^CHAD>MAMCE!>;^?ELAE!^?=!>HX=ANZCE`!HO?!EAL>EXANO?!MAE!>HL>;ANZCE!M?!^?MC=!U?HUCMCHLC!^A=A!=Cb:DA=>]A=!?!U:;^=>;CHL?!M?!U?HL=AL?!MC!U?HUCEEO?!C!^C=MA!MAE!U?HM>NZCE!CU?HV;>U?WX>HAHUC>=AE! j! ^?MC;! DCRA=`! C;! lDL>;A! >HELsHU>A`! h! MCUDA=ANO?! MC! UAM:U>MAMC! MA!U?HUCEEO?`!AEECb:=AMAE!AE!^=?R>MnHU>AE!^=iR>AE!^C=L>HCHLCE!A?!?XC=CU>;CHL?!MC!?^?=L:H>MAMC!^A=A!EAHCA;CHL?!MAE!XADfAE!RC=>X>UAMAE!C!A?!U?HL=AM>Lg=>?!C!h!A;^DA!MCXCEA@!!
'?=!?:L=?!DAM?`!U?HE>MC=AHM?!A!;CHU>?HAMA!?B=>bANO?!U?HL=AL:AD!GUD@!QQ@Q`!}&J!MA!U?HL=?DAM?=A!MC!A^?=LA=`!H?!;TH>;?`!A?!UA^>LAD!MA!U?HUCEE>?H<=>A`!?!RAD?=!MC!*~!YF!;>DfZCE`!S:C!U?==>b>M?!L?LAD>]A! *~! "F`K!;>DfZCE`! H?EEA! =CU?;CHMANO?! i! S:C! EC! CI>dA`! MC! >;CM>AL?`! ?! A^?=LC! MCEECE!=CU:=E?E!GC;!RAD?=CE!?BR>A;CHLC!AL:AD>]AM?EJ@!!
/Cb:HM?! ?! #M>LAD! MC! U?HUCEEO?`! ?! D>U>LAHLC! RCHUCM?=! EC=>A! ?! =CE^?HE<RCD! CIUD:E>R?! ^CDA!?BLCHNO?! MC! =CU:=E?E! E:X>U>CHLCE! ^A=A! XA]C=! XAUC! qA?E! >HRCEL>;CHL?E! ^=CR>EL?E! C;! E:A!^=?^?ELA`!HCUCEE<=>?E!h!;CDf?=>A`!;AH:LCHNO?`!CI^AHEO?!C!?^C=ANO?!M?E!EC=R>N?E!MC!AU?=M?!U?;!?!U=?H?b=A;A!MC!>HRCEL>;CHL?E!;TH>;?E!^=CR>EL?E!H?!-HCI?![r!G>LC;!K@[!M?!#M>LADJ@!#EEC!X?>! ?! U?HLCIL?! C;! S:C`! ^A=A! EC! CR>LA=! S:C! D>U>LAHLCE! ?^?=L:H>ELAE! X?EEC;! fAB>D>LAM?E! H?!^=?UCM>;CHL?!D>U>LALg=>?`!?!CM>LAD!^=CR>:!=CS:>E>L?E!CU?HV;>U?WX>HAHUC>=?E!S:C!CEECE!MCRC=>A;!ALCHMC=`!CHL=C!?E!S:A>E!^AL=>;VH>?!DTS:>M?!;TH>;?!HCUCEE<=>?@!
2A>E!U?HM>NZCE!CU?HV;>U?WX>HAHUC>=AE!MCRC;!EC=!^=CEC=RAMAE!M:=AHLC!A!R>bnHU>A!M?!U?HL=AL?`!LAHL?!S:C!A!^C=MA!MCEEAE!U?HM>NZCE!i!E:X>U>CHLC!^A=A!DCRA=!h!UAM:U>MAMC!MA!U?HUCEEO?@!
*CEEADLAWEC! S:C! ?! ;?MCD?! MC! U?HUCEEZCE! ^=CEE:^ZC! S:C! ?E! >HRCEL>;CHL?E! =CAD>]AM?E! EC=O?!=CU:^C=AM?E! A^CHAE! A! ;iM>?! C! D?Hb?! ^=A]?E`! ?! S:C! EC;^=C! CI>bC! S:C! ?! D>U>LAHLC! GX:L:=A!U?HUCEE>?H<=>A! ?:! EC:! U?HL=?DAM?=`! H?! UAE?! MC! :L>D>]ANO?! MC! E?U>CMAMCE! MC! ^=?^gE>L?!CE^CUTX>U?`! U?;?! EC! MC:! H?! UAE?! ?=A! AHAD>EAM?J! LCHfA! U?HM>NZCE! CU?HV;>U?WX>HAHUC>=AE!U?;^ALTRC>E!U?;!?E!>HRCEL>;CHL?E!^=CR>EL?E!C!?E!^=A]?E!^A=A!E:A!=CU:^C=ANO?@!'?=!CEEA!=A]O?!EC!CI>bC!M?E!D>U>LAHLCE!A!U?;^=?RANO?!MC!U?HM>NZCE!CU?HV;>U?WX>HAHUC>=AE!U?;^ALTRC>E!U?;!?E!>HRCEL>;CHL?E!C!^=A]?E!MC!=CU:^C=ANO?!CE^C=AM?E`!U?;?!EC!MC:!H?!UAE?!?=A!AHAD>EAM?`!C;!S:C!?! >LC;! _@"`! qUr`! M?! #M>LAD`! ^=CR>:! S:C! A! D>U>LAHLC! G2\)! 1?HEL=:NZCEJ! MCRC=>A! U?;^=?RA=!^AL=>;VH>?! DTS:>M?! MC`! H?! ;TH>;?`! *~! Y[! ;>DfZCE`! HA! MALA! MA! A^=CECHLANO?! MA! ^=?^?ELA@!-L:AD>]AM?! ^CD?! &7'W.!MCEMC! dAHC>=?! MC! YccF`! CEEC! RAD?=! CS:>RADC`! MC]C;B=?! MC! YcQQ`! A! *~!"F`K!;>DfZCE@!
3C! X?=;A! U?;^ALTRCD! U?;! ?! ^AL=>;VH>?! DTS:>M?! CI>b>M?! MA! D>U>LAHLC`! ?! CM>LAD! LA;Bi;!^=CR>:!G>LC;!QQ@"@QJ!S:C!?!UA^>LAD!E?U>AD!A!EC=!>HLCb=AD>]AM?!HA!E?U>CMAMC!MC!^=?^gE>L?!CE^CUTX>U?!A!EC=!U=>AMA!EC=>A!MC`!H?!;TH>;?`!*~!YF!;>DfZCE`!ECHM?!S:C!*~!F!;>DfZCE!MCRC=>A;!EC=!>HLCb=AD>]AM?E!
!
[Y!!
H?!AL?!MC!U?HEL>L:>NO?!MA!E?U>CMAMC!MC!^=?^gE>L?!CE^CUTX>U?!C!?! =CELAHLC! G*~!Yc!;>DfZCEJ!MC!AU?=M?!U?;!AE!>;?B>D>]ANZCE!MCU?==CHLCE!M?!U=?H?b=A;A!MC!>HRCEL>;CHL?E`!U?;?!d<!X?>!M>L?@!
1?HE>MC=AHM?! A! d<! =CAD>]ANO?! G>HUD:E>RC! ^?=! AHLCU>^ANO?J! M?E! >HRCEL>;CHL?E! ;A>E! =CDCRAHLCE!S:C!X?=A;!^=CR>EL?E!HA!^=?^?ELA`!A!U?HL=?DAM?=A!MCEU:;^=>:!A!?B=>bANO?!>HM>UAMA!HA!UD<:E:DA!QQ@Q`!}&`!M?!1?HL=AL?!MC!1?HUCEEO?`!^CDA!S:AD!MCRC=>A!EC=!;AHL>MA!CEL=:L:=A!;TH>;A!MC!UA^>LAD!E?U>AD! CI>b>MA`! M:=AHLC! L?M?! ?! ^C=T?M?! MA! U?HUCEEO?`! ?BEC=RAMAE! AE! CI>bnHU>AE! C! D>;>LCE!>;^?EL?E!H?!CM>LAD!MC!D>U>LANO?@!-!CEEA!U?HUD:EO?!LA;Bi;!UfCb?:!A!-:M>L?=>A!7C=AD!M?!#ELAM?`!^?=!;C>?!M?!*CDALg=>?!MC!-:M>L?=>A!YYeQQ@!
1:;^=C!?BEC=RA=!S:C`!;CE;?!S:C!A!U?HUCEE>?H<=>A! d<!L>RCEEC!=CAD>]AM?!?:!RCHfA!A!=CAD>]A=!?!A^?=LC!MC!=CU:=E?E!>HM>UAM?E!j!C!E:^?HM?!S:C!CEECE!=CU:=E?E!d<!L>RCEEC;!E>M?!?:!RCHfA;!A!EC=!U?HE:;>M?E! ^?=! S:ADS:C=! ;?L>R?! j`! A>HMA! AEE>;! ^?MC=>A! EC=! CI>b>M?! ?! A^?=LC! MC! =CU:=E?E!^=g^=>?E!AM>U>?HA>E`!U?;!X:DU=?!H?!>HU>E?!5&&&!MA!UD<:E:DA!QQ@Q!M?!1?HL=AL?!MC!U?HUCEEO?`!S:C`!A?! CELABCDCUC=! A! ?B=>bANO?! MA! U?HUCEE>?H<=>A! MC! ?BLC=! ?E! =CU:=E?E! HCUCEE<=>?E! A?E!>HRCEL>;CHL?E`! HO?! ?E! D>;>LA! hS:CDCE! HCUCEE<=>?E! A?E! >HRCEL>;CHL?E! ^=CR>EL?E! HA! ^=?^?ELA!RCHUCM?=A!?:!hS:CDCE!S:C!DCRA=A;!h!CEL=:L:=A!MC!UA^>LAD!>H>U>AD;CHLC!U?HE>MC=AMA@!!
#EEA! H?=;A! U?HL=AL:AD! >HM>UA! S:C! ?! A^?=LC! M?E! =CU:=E?E! ^A=A! XA]C=! XAUC! A?E! >HRCEL>;CHL?E!HCUCEE<=>?E! h! ^=CELANO?! MC! EC=R>N?! AMCS:AM?! G=Cb:DA=>MAMC`! U?HL>H:>MAMC`! CX>U>nHU>A`!ECb:=AHNA`! AL:AD>MAMC`! bCHC=AD>MAMC`! U?=LCE>A`! ;?M>U>MAMCJ! i! MC! =CE^?HEAB>D>MAMC! MA!U?HUCEE>?H<=>A`! S:C=! ECdA! ^?=! >HLC=;iM>?! MC! UA^>LAD! ^=g^=>?! M?E! AU>?H>ELAE`! S:C=! ECdA! ^?=!>HLC=;iM>?! MC! UA^>LAD! MC! LC=UC>=?E`! >HMC^CHMCHLC;CHLC! MA! S:AHL>MAMC! MC! =CU:=E?E! S:C! ECdA!HCUCEE<=>A!^A=A!?!B?;!MCECHR?DR>;CHL?!M?!?BdCL?!U?HL=AL:AD@!-S:>!^=C^?HMC=A!A!E:^=C;AU>A!M?! >HLC=CEEC! E?U>AD! E?B=C! ?! ^=>RAM?(! EC! A! U?HL>H:>MAMC! M?! EC=R>N?! ^lBD>U?! MC^CHMC! MA!UA^AU>MAMC!CU?HV;>UA!^=>RAMA`!A!^C=MA!MCDA!^?MC!>;^D>UA=!A!UAM:U>MAMC@!!
p! CR>MCHLC`! AEE>;`! S:C! EC! MCRC! CI>b>=! MA! U?HUCEE>?H<=>A! ?! UA^>LAD! HCUCEE<=>?! ^A=A! ?E!>HRCEL>;CHL?E!H?E!EC=R>N?E!C!^A=A!A!EAL>EXANO?!MAE!E:AE!MC;A>E!?B=>bANZCE`!CHL=C!AE!S:A>E!EC!CHU?HL=A;! AE! ?B=>bANZCE! =CDAL>RAE! G&J! A! ^C=T?M?E! ^=CLi=>L?E`! HO?! U:;^=>MAE! H?! MCR>M?! ^=A]?!^CDA!XADLA!MC!A^?=LC!MC!UA^>LAD!^=g^=>?!GMTR>MAE!L=>B:L<=>AE`!^?=!CIC;^D?Jo!G&&J!A?!=CU?Df>;CHL?!MC! ;:DLAE! U?HL=AL:A>E! ?:! =Cb:DALg=>AE! MCU?==CHLCE! MC! XADfAE! ?:! XADLAE! HA! ^=CELANO?! M?E!EC=R>N?Eo!C!G&&&J!A?!^AbA;CHL?!MC!>HMCH>]ANZCE!^?=!MAH?E!UA:EAM?E!A?E!BCHE!R>HU:DAM?E`!CHL=C!?:L=AE!S:C!RCHfA;!A!EC=!>HM>UAMAE@!!
,! EC=R>N?! MA! MTR>MA! LA;Bi;! ^=CU>EA! EC=! U?HE>MC=AM?! HA! HCUCEE>MAMC! MC! UA^>LAD@! 1?HL:M?`!U:;^=C!?BEC=RA=!S:C` ^A=A!X>HE!MC!AH<D>EC!MA!U?HUCEEO?` i!AMCS:AM? M>R>M>=!?!EC=R>N?!MA!MTR>MA!C;!M:AE!^A=LCE(!:;A!=CDAL>RA!h!BAEC!MC!AL>R?E!=CU?HfCU>MA!^A=A!X>HE!MC!U<DU:D?!LA=>X<=>?!C!?:L=A!^A=UCDA! =CDAL>RA! A?E! RAD?=CE! HO?! =CU?HfCU>M?E! MA! BAEC! MC! AL>R?E@! &EE?! EC! d:EL>X>UA! ^?=S:C! ?E!RAD?=CE! M?! EC=R>N?! MA! MTR>MA! =CDAL>R?E! h! BAEC! MC! AL>R?E! HO?! =CU?HfCU>MA! MCRC;! EC=!U?HE>MC=AM?E`! ^A=A! L?M?E! ?E! X>HE`! U?;?! ?B=>bANZCE! MA! U?HUCEE>?H<=>A`! S:C! HO?! EC=O?!=C;:HC=AMAE! ^CD?! 0D:I?! MC! 1A>IA! ,^C=AU>?HAD! 4>R=C! MA! U?HUCEEO?@! -! ^A=UCDA! M?! EC=R>N?! MA!MTR>MA! =CDAL>RA! A?E! >HRCEL>;CHL?E! =CU?HfCU>M?E`! ^?=! EC:! L:=H?`! MCRC! EC=! ?BL>MA! H?! XD:I?! MC!UA>IA`!R>EL?!S:C!i!>;^DTU>LA!HA!LAIA!MC!=C;:HC=ANO?@!!
1?;?!A!MTR>MA!d:HL?!A?!)+)!=CXC=CWEC!A?!0)!-++-!+#*�!C!A?!0)!&5#2#!/-+7-4,!C!A!^A=UCDA!HO?!=CU?HfCU>MA!MCEECE! >HRCEL>;CHL?E!X?>!MC!A^=?I>;AMA;CHLC!"ca`!CEEA!;CE;A!^A=UCDA!MA!MTR>MA! LA;Bi;! MCRC! EC=! U?HE>MC=AMA! ?B=>bANO?! MA! U?HUCEE>?H<=>A`! S:C! HO?! MCRC! U?;:H>UA=!U?;!?!XD:I?!MC!UA>IA!X:L:=?!MA!U?HUCEEO?@!!
-! LABCDA! A! ECb:>=! GC;! ;>DfZCE! MC! *~J`! E>HLCL>]A! A! HCUCEE>MAMC! MC! UA^>LAD`! U?;! BAEC! H?E!CDC;CHL?E!MCEU=>L?E!AHLC=>?=;CHLC`!?E!S:A>E!CELO?!CEUAD?HAM?E!C;!S:AL=?!AH?E(!
!
["!!
A'>%<'(U B ^%0%33-$'$%($%(0')-+'<
!
-E!HCUCEE>MAMCE!MC!A^?=LC!MC!UA^>LAD! >HM>UAMAE!HCELC!Lg^>U?!HO?!EO?!A^CHAE!H?=;AL>RAE`!;AE!Ln;! =CDCRsHU>A! ^=<L>UA`! ^?>E! E:AE! HO?! EAL>EXANZCE`! U?;?! AX>=;AM?`! CDCRA;! M=AEL>UA;CHLC! ?!=>EU?! MC! MCEU?HL>H:>MAMC! MA! ?^C=ANO?`! ^CDA! XADLA! MC! U:;^=>;CHL?! M?E! U?;^=?;>EE?E!AEE:;>M?E! ^CDA! U?HUCEE>?H<=>A`! AEE>;! U?;?! >;^CMC;! A! =CAD>]ANO?! MC! >HRCEL>;CHL?E!HCUCEE<=>?E!h!^=CELANO?!MC!:;!EC=R>N?!AMCS:AM?@!!
-MC;A>E`!U?HE>MC=AHM?!AE!HCUCEE>MAMCE!A^?HLAMAE`!?E!A^?=LCE!MC!UA^>LAD!MCRC;!EC=!=CAD>]AM?E!C;!UA>IA!?:!CS:>RADCHLCE@!
!
[9!!
W1=*#&1]*#,15'(."R,%&6'((
LBC D*5%&M(6,=&._%&*(
*CU?;CHMA;?E!S:C!AE!S:CELZCE!AB?=MAMAE!HCELC!#EL:M?`!EADR?!S:AHM?!CI^=CEE?!C;!ECHL>M?!U?HL=<=>?`!ECdA;!MCU>M>MAE!HA!ECS:nHU>A!MAE!ECNZCE!A!ECb:>=!>HM>UAMAE@!!
+AL:=AD;CHLC`!H?EEAE! =CU?;CHMANZCE!^?MC=O?!EC=!ADLC=AMAE!C;! X:HNO?!MC!H?R?E!CDC;CHL?E!S:C!H?E!X?=C;!A^=CECHLAM?E`!^=>HU>^AD;CHLC!A^gE!?E!=CE:DLAM?E!MA!U?HE:DLA!^lBD>UA@!
LBA `"*15'(*'(1<:,-(6,(.,%:&7'(
*CU?;CHMA;?E!S:C!?!HTRCD!MC!EC=R>N?E!U?HE>MC=AM?!C;!H?EE?E!CEL:M?E!CU?HV;>U?WX>HAHUC>=?E!ECdA! X?=;AD;CHLC! AM?LAM?! ^?=! ;C>?! MC! =CE?D:NZCE! C`! EC! f?:RC=! HCUCEE>MAMC`! ^?=! ;C>?! MC!AM>L>R?! U?HL=AL:AD`! ?BEC=RAMAE! AE! CLA^AE! >HM>UAMAE! GAL:AD`! L=AHE>NO?! C! MCX>H>L>RA! ?:! ^DCHAJ@!-MC;A>E`! UAE?! MCU>M>MA! A! A^D>UANO?! MCEEAE! H?RAE! U?HM>NZCE`! =CU?;CHMA;?E! S:C! A! -7#*)-!CHR>MC!EC:E!CEX?=N?E!H?!^DAHCdA;CHL?!C!AU?;^AHfA;CHL?!MA!L=AHE>NO?!MA!E>L:ANO?!AL:AD!^A=A!?!;?MCD?!^DCH?`!=CAD>]AHM?!Ad:ELCE`!EC!X?=!HCUCEE<=>?`!HAE!MALAE!^A=A!CHL=AMA!C;!?^C=ANO?!MC!UAMA!CLA^A! >HM>UAMA! GL=AHE>NO?`! C;!Q?@! MC! ECLC;B=?!MC!YcQYo!^DCH?`! C;!Q?@! MC! ECLC;B=?!MC!YcQ"J@!
LBE `"*15'(*'.(&1:,.5&#,15'.(
*CU?;CHMA;?E! S:C! A! -7#*)-! C! A! U?HUCEE>?H<=>A! U?HL>H:C;! ?E! CEX?=N?E! ^A=A! MCX>H>=! U?;!;A>?=!^=CU>EO?!?!^DAH?!MC! >HRCEL>;CHL?E`!MC! X?=;A! =CAD>ELA`!;AHLCHM?W?! EC;^=C!AL:AD>]AM?@!1AMA! >HRCEL>;CHL?! MCRC! CELA=! BC;! MCX>H>M?`! U?;! UA=AULC=TEL>UAE! C! U=?H?b=A;A! UDA=?E`!^=>R>DCb>AHM?(!!
AJ!/*!=-#!&%/>#!?,!#1:%(.%45#,`!A!ECb:=AHNA!C!U?HX>AB>D>MAMC!M?E!EC=R>N?Eo!!
BJ!/*!=-#!,#!(#3#(#!%*,!&#(1)/%),`!A!ECb:=AHNA`!AUCEE>B>D>MAMC!C!U?HX?=L?!M?E!^AEEAbC>=?Eo!C!!
UJ! =-%/&*! ?! >#,&@*! +*,! ,#(A)4*,`! ?! U?HL=?DC! MC! AUCEE?E! GMC;AHMAJ`! MA! ?XC=LA! GR>AbCHE!=CAD>]AMAEJ!C!M?!U:;^=>;CHL?!M?E!M>RC=E?E!=CS:>E>L?E!C!>HM>UAM?=CE!A^D>U<RC>E`!U?;!D>R=C!AUCEE?!A?E!MAM?E!^CDA!-7#*)-`!?BR>A;CHLC9"@!!
LBF `"*15'(a(=*N&5*-&M*78'(6*(='1=,..&'1$%&*(
#ELC!CEL:M?!AB?=M?:`!U?Hd:HLA;CHLC`!G&J!?E!AE^CUL?E!CU?HV;>U?WX>HAHUC>=?E!MA!U?HUCEEO?!C!G&&J!S:CELZCE! ^C=L>HCHLCE! A?! U:;^=>;CHL?! MAE! ?B=>bANZCE! U?HL=AL:A>E! ^CDA! 2\)`! CE^CU>AD;CHLC!AS:CDAE!=CDAL>RAE!h!E:A!UA^>LAD>]ANO?@!!
-! HCUCEE>MAMC! MC! AH<D>EC! U?Hd:HLA! MCEEAE! S:CELZCE! MCU?==C:! MAE! AL:A>E! E>L:ANZCE! MA!U?HUCEE>?H<=>A!C!M?E! EC=R>N?E!^=CELAM?E`!S:C!CHECdA=A;`! >HUD:E>RC`! A!AEE>HAL:=A!MC!2C=;?!MC!-d:ELA;CHL?!MC!1?HM:LA!G2-1J!CHL=C!?!.>H>ELi=>?!'lBD>U?!MA!)Af>A!C!A!-7#*)-`!^CD?!S:AD!CELA!MCRC! CI>b>=! MA! U?HUCEE>?H<=>A! S:AD>MAMC! M?E! EC=R>N?E! ^=CELAM?E`! U:;^=>;CHL?! M?! U?HL=AL?! C!B?AE!U?HM>NZCE!CU?HV;>U?WX>HAHUC>=AE@!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!9"!+AL:=AD;CHLC`!?E!;C>?E!MC!U?HL=?DC!MCRC=O?!EC=!A^=?RAM?E!^CDA!-7#*)-!C!^AEETRC>E!MC!A:M>L?=>A@!
!
[[!!
3C!XAL?`!H?EE?!M>AbHgEL>U?!=CRCD?:!AE!M>X>U:DMAMCE!MA!2\)!C;!U?HL>H:A=!U?;?!^=CELAM?=A!M?E!EC=R>N?E! ^lBD>U?E! MC! L=AHE^?=LC! f>M=?R><=>?`! ^?>E! f<! ;CM>MAE! ?^C=AU>?HA>E`! U?=^?=AL>RAE! C!CU?HV;>U?WX>HAHUC>=AE! S:C! ^=CU>EA;! EC=! ^=?;?R>MAE! ^CDA! C;^=CEA`! E?B! ^CHA! MC! A! ^=g^=>A!=CR>EO?!?=M>H<=>A!?=A!U?HM:]>MA!HO?!XA]C=!ECHL>M?!^=<L>U?@!
-EE>;`! UAE?! HO?! fAdA! :;A! E>bH>X>UAL>RA! UA^>LAD>]ANO?! MA! U?HUCEE>?H<=>A`! S:C! AEECb:=C! ?!CELABCDCU>;CHL?!MC!AMCS:AMAE!U?HM>NZCE! X>HAHUC>=AE`!i! >HM>EU:LTRCD!S:C!A! >;^DC;CHLANO?!MA!=CR>EO?! HO?! U?HL=>B:>=<! ^A=A! A! ;CDf?=A! M?E! EC=R>N?ES( 0"&;"#5%( &%0%334#-'S( )#%6-3+'( %()#%33:)"3+'@!!
'?=!?:L=?! DAM?`! A!;AH:LCHNO?!M?!S:AM=?!AL:AD!j!HTRCD!MC! EC=R>N?E`! LA=>XAE!CLU@!j! >HRC=LC=>A!A!Dgb>UA!MA!E:^=C;AU>A!M?!>HLC=CEEC!^lBD>U?!E?B=C!?!^=>RAM?`!HA!;CM>MA!C;!S:C!XA=>A!?E!:E:<=>?E!^AbA=C;!LA=>XAE!CIUCEE>RAE!C!U?HL>H:A=C;!UA=CUCHM? MC!EC=R>N?!AMCS:AM?@
'?=LAHL?`!?E!AU?HLCU>;CHL?E!?BEC=RAM?E`!U?;?!AS:CDCE!S:C!DCRA=A;!h!AEE>HAL:=A!MCEEC!2-1!j!^=CELANO?! MC! EC=R>N?! >HAMCS:AM?! C! MCX>U>CHLC`! MCEU:;^=>;CHL?! MC! UD<:E:DAE! U?HL=AL:A>E! ?:!M>E^?E>NZCE! DCbA>E! ?:! =Cb:DA;CHLA=CE`! HO?! U:;^=>;CHL?! MC! ^CHAD>MAMCE! >;^?ELAE! ^?=!>HX=ANZCE`!HO?!EAL>EXANO?!MAE!>HL>;ANZCE!M?!^?MC=!U?HUCMCHLC!^A=A!=Cb:DA=>]A=!?!U:;^=>;CHL?!M?! U?HL=AL?! MC! U?HUCEEO?! C! ^C=MA! MAE! U?HM>NZCE! CU?HV;>U?WX>HAHUC>=AE! j! ^?MC;! DCRA=! h!MCUDA=ANO?!MC! UAM:U>MAMC!MA! U?HUCEEO?`! AEECb:=AMAE! AE! ^=?R>MnHU>AE! ^=iR>AE! ^C=L>HCHLCE! A?!&+'$',%)'8-&"/'"&#&$-28%/!/'"#!$!"0!8'!)'8-&"/!0"+!*>!0".'$%+%,!/!0"C!A?!,&8-$!/%-_$%&"'":"!)#*!"/'+'0!@!!
1=C;?E! S:C! CEEA! E>L:ANO?! A^CHAE! EC=<! E?D:U>?HAMA! ;CM>AHLC! ?! CXCL>R?! A^?=LC! MC! =CU:=E?E!X>HAHUC>=?E`!S:C`!MCR>M?!h!ADLA!ADARAHUAbC;!MA!U?HUCEE>?H<=>A!?:!A?!:E?!^=CLCHM>M?!^A=A!CEECE!=CU:=E?E`!MC^CHMC=<!MC!E:A!UA^>LAD>]ANO?!^CD?!AU>?H>ELA@!!
#;! RAD?=CE! H?;>HA>E`! U?;?! R>EL?! H?! UA^TL:D?! AHLC=>?=`! ?! UA^>LAD! HCUCEE<=>?`! U?HE>MC=AHM?! AE!HCUCEE>MAMCE!MC!YcQY!A!YcQ[`!X?>!CEL>;AM?!C;!HFYSs(5-<=9%3@!!
'?=! ?:L=?! DAM?`! U?HE>MC=AHM?`! U?;?! U?D?UAM?`! '( ">#-M'87"( 0"&+#'+:'<( L0<T( llTlS( cUP( $% 3%')"#+'#S( &"(5O&-5"S( '"( 0')-+'<( $'( 0"&0%33-"&4#-'S( "( 6'<"#( $%(Hx( pF(5-<=9%3S( J:%( 0"##-M-$"(+"+'<-D'( 0%#0'( $%( Hx( jFSi(5-<=9%3S( &"33'( #%0"5%&$'87"( ?( J:%( 3%( %@-*'( "( ')"#+%( -5%$-'+"($%33%3(#%0:#3"3(L%5(6'<"#%3(0"##-M-$"3PT((
#EEA!^?MC!EC=!XC>LA!AHLCE!;CE;?!MA!X>HAD>]ANO?!M?E!^=?UCM>;CHL?E!=CDAL>R?E!h!=CR>EO?!LA=>X<=>A`!LCHM?!C;!R>ELA!S:C!EC!L=ALA!MC!?B=>bANO?!U?HL=AL:AD!D>LC=AD@!1AE?!?!UA^>LAD!CI>b>M?!HO?!RCHfA!A!EC=!A^?=LAM?!H?!^=A]?!S:C!X?=!CEL>^:DAM?!^CDA!-7#*)-`!=CU?;CHMA;?E!S:C!ECdA;!>H>U>AM?E!?E!^=?UCM>;CHL?E!^A=A!A!MCU=CLANO?!MA!UAM:U>MAMC99@!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!99-=L@!"_@!-! >HCICU:NO?! L?LAD!?:!^A=U>AD!M?! U?HL=AL?!AUA==CLA=<`! A! U=>Li=>?!M?!^?MC=! U?HUCMCHLC`! A!MCUDA=ANO?!MC! UAM:U>MAMC!MA!
U?HUCEEO?!?:!A!A^D>UANO?!MAE!EAHNZCE!U?HL=AL:A>E`!=CE^C>LAMAE!AE!M>E^?E>NZCE!MCELC!A=L>b?`!M?!A=L@!YK`!C!AE!H?=;AE!U?HRCHU>?HAMAE!CHL=C!AE!^A=LCE@!�!Q?!-!UAM:U>MAMC!MA!U?HUCEEO?!^?MC=<!EC=!MCUDA=AMA!^CD?!^?MC=!U?HUCMCHLC!S:AHM?(!&! W! ?! EC=R>N?! CEL>RC=! ECHM?! ^=CELAM?! MC! X?=;A! >HAMCS:AMA! ?:! MCX>U>CHLC`! LCHM?! ^?=! BAEC! AE! H?=;AE`! U=>Li=>?E`! >HM>UAM?=CE! C!^A=s;CL=?E!MCX>H>M?=CE!MA!S:AD>MAMC!M?!EC=R>N?o!&&!W!A!U?HUCEE>?H<=>A!MCEU:;^=>=!UD<:E:DAE!U?HL=AL:A>E!?:!M>E^?E>NZCE!DCbA>E!?:!=Cb:DA;CHLA=CE!U?HUC=HCHLCE!h!U?HUCEEO?o!&&&! W!A!U?HUCEE>?H<=>A!^A=AD>EA=!?!EC=R>N?!?:!U?HU?==C=!^A=A!LAHL?`!=CEEADRAMAE!AE!f>^gLCECE!MCU?==CHLCE!MC!UAE?!X?=L:>L?!?:!X?=NA!;A>?=o!&5! W! A! U?HUCEE>?H<=>A! ^C=MC=! AE! U?HM>NZCE! CU?HV;>UAE`! LiUH>UAE! ?:!?^C=AU>?HA>E! ^A=A!;AHLC=! A! AMCS:AMA!^=CELANO?!M?! EC=R>N?!U?HUCM>M?o5!W!A!U?HUCEE>?H<=>A!HO?!U:;^=>=!AE!^CHAD>MAMCE!>;^?ELAE!^?=!>HX=ANZCE`!H?E!MCR>M?E!^=A]?Eo!5&!W!A!U?HUCEE>?H<=>A!HO?!ALCHMC=!A!>HL>;ANO?!M?!^?MC=!U?HUCMCHLC!H?!ECHL>M?!MC!=Cb:DA=>]A=!A!^=CELANO?!M?!EC=R>N?o!C!5&&!W!A!U?HUCEE>?H<=>A!X?=!U?HMCHAMA!C;!ECHLCHNA!L=AHE>LAMA!C;!d:DbAM?!^?=!E?HCbANO?!MC!L=>B:L?E`!>HUD:E>RC!U?HL=>B:>NZCE!E?U>A>E@!
!
[F!!
LBV `"*15'(a(&#N-,#,15*78'(6*(%,:&.8'(5*%&@$%&*(
'CDAE! =A]ZCE! >HM>UAMAE! HCELC! CEL:M?! C! MCEMC! S:C! U:;^=>MAE! AE! U?HM>NZCE! AU>;A! >HM>UAMAE!S:AHL?! A! G&J! HTRCD! MC! EC=R>N?`! G&&J! >HRCEL>;CHL?E! C! G&&&J! R>AB>D>]ANO?! MC! UA^>LA>E! HCUCEE<=>?E`!3%M:&$"( &"33'( '6'<-'87"S( '3( +'#-;'3( $%6%5( 3%#( #%6-3+'3S( 3%&$"(5'*"#'$'3( %5( 2Sllv( L0-&0"(-&+%-#"3(%("&D%($?0-5"3()"#(0%&+"PS('()'#+-#($%(pj($%(*:&="($%(p1lp`!AE!S:A>E!R>b?=A=>A;!ALi!YY! MC! XCRC=C>=?! MC! YcQ"`! S:AHM?! MCRC=O?! EC=! =CAd:ELAMAE! ^CDA! >HXDANO?`! H?E! LC=;?E!U?HL=AL:A>E9[@!
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!9[! #ELC! RAD?=! MCRC=>A! EC=! AU?;^AHfAM?! MC! ;CM>MA! MC! =CCS:>DTB=>?! ^A=A! U?;^CHEA=! ?E! CXC>L?E! MA!
MCXAEAbC;!LA=>X<=>A!M?!=CAd:ELC!MC!YcQY!GU?HX?=;C!^<b>HAE!9PW[cJ@!
!
[K!!
01,2'(3(
A'>%<'(`(B(H%3:5"($%(+'>%<'3(
Q!
!"# $#"%&#' (%')*+,-.
!"#$%"&' !"#$%"&'&(&)$*"+,"&(&-./&0/"123*&"&4/*&)$56"78/&(&9:':
!"#$%"&9 !"#$%"&9&(&)$*"+,"&(&4/*&)$56"78/&"&-./&0/"123*&(&9:':
!"#$%"&;!"#$%"&;&(&)$*"+,"&(&)$*"+,"&6/<&*/,"%3,",$&(&=*#/5&-$+>3,/5&(&9:':&$&6</?$@./&6"<"&/&
6<3*$3</&"+/&,/&737%/
!"#$%"&A !"#$%"&A&(&)$*"+,"&(&B"<>3736"@./&,/5&*$5$5&,$&0"+$3</&$&C$D$<$3</&+"&,$*"+,"&=+2"%
!"#$%"&E !"#$%"&E&(&)$*"+,"&(&B$<7$+>2"35&$5>3*",/5&,$&7<$573*$+>/
!"#$%"&F !"#$%"&F&(&)$*"+,"&(&)$*"+,"&$5>3*","&6/<&*/,"%3,",$
!"#$%"&G !"#$%"&G&(&HI$<>"&<$12$<3,"&(&,",/5&(&HI$<>"&*J+3*"&6<$D35>"
!"#$%"&K !"#$%"&K&(&HI$<>"&<$12$<3,"&(&,",/5&(&)",/5&,"5&$*#"<7"@L$5
MN%72%/&,"&
/I$<>"!"#$%"&O !"#$%"&O&(&MN%72%/&,"&/I$<>"&(&B",<./&,$&/I$<>"&,$I3+3>3D/
!"#$%"&': !"#$%"&':&(&M25>/&,$&H6$<"@P&,$&Q*#"<7"@L$5&(&M25>/&,"&/6$<"@./&,"5&$*#"<7"@L$5&+/&"+/&*R,3/
!"#$%"&'' !"#$%"&''&(&M25>/&,$&H6$<"@P&,$&Q*#"<7"@L$5&(&M25>/&,$&/6$<"@./&,"5&$*#"<7"@L$5&(&'/&"/&E/&"+/
M25>/5&$&
)$56$5"5!"#$%"&'9 !"#$%"&'9&(&M25>/5&$&)$56$5"5&(&M/*6/53@./&,/&725>/&,$&>$<*3+"35&$&",*3+35><"@./
!"#$%"&'; !"#$%"&';&(&M25>/5&$&)$56$5"5&(&B</?$@./&,$&725>/5&$&,$56$5"5
!"#$%"&'A !"#$%"&'A&(&M25>/5&$&)$56$5"5&(&S+,37$5&T$<"35
!"#$%"&'E!"#$%"&'E&(&M25>/5&$&)$56$5"5&(&B</?$@./&,/5&T"5>/5&$&$I$3>/5&,"&6</,2>3D3,",$&$&,/5&725>/5&
D"<3ND$35
!"#$%"&'F !"#$%"&'F&(&M25>/5&$&)$56$5"5&(&B</?$@L$5&,$&*$<7",/
!"#$%"&'G !"#$%"&'G&(&4"5$&,$&<$*2+$<"@./&(&M/*6/53@./
!"#$%"&'K !"#$%"&'K&(&4"5$&,$&<$*2+$<"@./&(&U+D$5>3*$+>/5&",373/+"35&(&"%R*&,"5&<$D35L$5
!"#$%"&'O !"#$%"&'O&(&4"5$&,$&<$*2+$<"@./&(&!/>"%&,$&3+D$5>3*$+>/5&6<$D35>/5&+/5&6<VW3*/5&"+/5
!"#$%"&9: !"#$%"&9:&(&4"5$&,$&<$*2+$<"@./&(&B</?$@./&,"&#"5$&,$&<$*2+$<"@./&(&D"%/<&#<2>/
!"#$%"&9' !"#$%"&9'&(&4"5$&,$&<$*2+$<"@./&(&B</?$@./&,"&,$6<$73"@./&"72*2%","
!"#$%"&99 !"#$%"&99&(&4"5$&,$&<$*2+$<"@./&(&B</?$@./&,"&#"5$&,$&<$*2+$<"@./&%J123,"
!"#$%"&9;!"#$%"&9;&(&4"5$&,$&<$*2+$<"@./&(&MN%72%/&,/&D"%/<&7/+53,$<",/&(&M/+><3#23@./&,/&T/D$<+/&6"<"&C4&
=++"&X$<Y
!"#$%"&9A !"#$%"&9A&(&4"5$&,$&<$*2+$<"@./&(&Z"%/<$5&#"5$&,/&7/+><">/&,$&7/*6<"&,"5&$*#"<7"@L$5
!"#$%"&9E!"#$%"&9E&(&4"5$&,$&<$*2+$<"@./&(&)",/5&7/+>N#$35&$&D"%/<$5&">2"%3[",/5&,$&"7/<,/&7/*&/&
7/+><">/
!"#$%"&9F !"#$%"&9F&(&4"5$&,$&<$*2+$<"@./&(&Z"%/<&>/>"%&,/5&">3D/5&<$T35><",/5&$*&#"%"+@/
!"#$%"&9G !"#$%"&9G&(&4$+$IJ73/&I357"%&,"&,$6<$73"@./&(&4"5$&,$&">3D/5&7/*&,$6<$73"@./&,$&E\&$&':\
!"#$%"&9K!"#$%"&9K&(&4$+$IJ73/&I357"%&,"&,$6<$73"@./&(&)$6<$73"@./&+/*3+"%&,$&">3D/5&7/*&,$6<$73"@./&,$&
E\&$&':\
!"#$%"&9O!"#$%"&9O&(&4$+$IJ73/&I357"%&,"&,$6<$73"@./&(&)$6<$73"@./&<$"%&,$&">3D/5&7/*&,$6<$73"@./&,$&E\&$&
':\
!"#$%"&;: !"#$%"&;:&(&M]BM&(&M25>/&]R,3/&B/+,$<",/&,$&M"63>"%
!"#$%"&;' !"#$%"&;'&(&M]BM&(&B"<^*$></5
!"#$%"&;9 !"#$%"&;9&(&M]BM&(&C/<*"@./&,"&>"W"&,$&7"63>"%&,$&>$<7$3</5
!"#$%"&;; !"#$%"&;;&(&_$7$3>"&(&_$7$3>"&,$&6"55"T$3</5&,"&M%"55$&QW$72>3D"
!"#$%"&;A !"#$%"&;A&(&_$7$3>"&(&)$*"+,"&!/>"%&(&`2"></&*/,"%3,",$5
!"#$%"&;E !"#$%"&;E&(&_$7$3>"&(&B</6/<@./&$+><$&*/,"%3,",$5
!"#$%"&;F !"#$%"&;F&(&_$7$3>"&(&!"<3I"5&D3T$+>$5
!"#$%"&;G !"#$%"&;G&(&_$7$3>"&(&!"<3I"&*R,3"&6/+,$<","
!"#$%"&;K !"#$%"&;K&(&_$7$3>"&(&!/>"%&6</?$>",/&6"<"&"+/&'&7/*&>"<3I"5&&D3T$+>$5
!"#$%"&;O !"#$%"&;O&(&_$7$3>"&(&!"<3I"5&*R,3"5&6/+,$<","5&7/+53,$<"+,/&"&<$D35./&>"<3IN<3"
!"#$%"&A: !"#$%"&A:&(&_$7$3>"&(&!"<3IN<3"&>/>"%&6</?$>","&7/*&>"<3I"5&<$D35","5
!"#$%"&A' !"#$%"&A'&(&_$7$3>"&(&MN%72%/&,/&6$<7$+>2"%&,$&<$7$3>"&"7$55V<3"
!"#$%"&A9 !"#$%"&A9&(&_$7$3>"&(&B</?$@./&,$&<$7$3>"&"7$55V<3"
!"#$%"&A; !"#$%"&A;&(&_$7$3>"&(&\&,$&,$,2@L$5&,"&<$7$3>"&&#<2>"
!"#$%"&AA !"#$%"&AA&(&_$7$3>"&(&)$,2@L$5&,$&<$7$3>"
]/,$%/&
I3+"+7$3</!"#$%"&AE !"#$%"&AE&(&]/,$%/&I3+"+7$3</&(&C%2W/&,$&M"3W"
!"#$%"&AF !"#$%"&AE&(&]/,$%/&I3+"+7$3</&(&C%2W/&,$&M"3W"
!"<3I"5 !"#$%"&AG !"#$%"&AG&(&!"<3I"5&(&!"#$%"&,$&>"<3I"5
!"#$%"&AK!"#$%"&AK&(&X$7$553,",$&,$&7"63>"%&(&B$+,a+73"&"+>$<3/<$5b&X./&6/,$*&/+$<"<&/5&252N<3/5&
*$,3"+>$&>"<3I"
!"#$%"&AO !"#$%"&AO&(&X$7$553,",$&,$&7"63>"%&(&M/*6/53@./&,/&I%2W/&,$&7"3W"&,/&"73/+35>"
!"#$%"&E: !"#$%"&E:&(&X$7$553,",$&,$&7"63>"%&(&X$7$553,",$&,$&"6/<>$&,$&7"63>"%&>/>"%
!"#$%"&E' !"#$%"&E'&(&X$7$553,",$&,$&7"63>"%&(&X$7$553,",$&,$&"6/<>$&,$&7"63>"%&>/>"%
!"#$%"&E9 !"#$%"&E9&(&X$7$553,",$&,$&7"63>"%&(&X$7$553,",$&,$&"6/<>$&,$&7"63>"%&>/>"%
UcB(] !"#$%"&E; !"#$%"&E;&(&UcB(]&(&]$+5"%&$&"72*2%",/
4"5$&,$&
<$*2+$<"@./
)$*"+,"
M25>/&,$&
H6$<"@P&,$&
Q*#"<7"@L$5
HI$<>"&
<$12$<3,"&(&
X$7$553,",$&
,$&7"63>"%
M]BM
_$7$3>"
4$+$IJ73/&I357"%&
,"&,$6<$73"@./
!
[_!!
!
!
/&%@"(U(B(A'>%<'(l(
!
!
/&%@"(U(B(A'>%<'(p(
!
!"# $%##%&'()* $%##%&'()* +!$+ ,'-+./* ,'-+./* ,'-+./* ,'-+./*
$%&%01' &)%1.(2%2' 1*1%/ $'3.'0* &)%02' !*1* 1*1%/4
5%0'()* 6789:;:444444444444 6<9<8=444444444 >6>988?444444444444 >@9<:844444444444444 :9<@@4444444444444444 =9:884444444444444444 ==9=@644444444444444
A',')'()* 6<69688444444444444 6>9?66444444444 6@?9877444444444444 >>9<@@44444444444444 :96@84444444444444444 =9?764444444444444444 >79?<844444444444444
!%)B* :8?9::<444444444444 6697=>444444444 :7@9;?7444444444444 6>9;?@44444444444444 :9?7=4444444444444444 :97784444444444444444 6<9<=744444444444444
%C)(/4 :<@9:<=444444444444 6;988?444444444 :@@97>7444444444444 :79=?;44444444444444 :9;<@4444444444444444 69:>@4444444444444444 669<?<44444444444444
!%(* :<;97@:444444444444 6;9@6:444444444 :@:9@;6444444444444 :79<7<44444444444444 :96;@4444444444444444 :9@:<4444444444444444 66986;44444444444444
5.0D* 6;;9<7?444444444444 669<76444444444 66>9>@8444444444444 6>9=8?44444444444444 :9;?74444444444444444 69:>?4444444444444444 6<9<<744444444444444
5./D* :<>9=@@444444444444 :79?8<444444444 :@>9;<=444444444444 :79>:644444444444444 :9;>?4444444444444444 :96=>4444444444444444 6:9?7;44444444444444
%&*#1* :<@9@7@444444444444 6:9=8>444444444 :7;9>8:444444444444 6;9:8=44444444444444 :9:??4444444444444444 :9?884444444444444444 6697;<44444444444444
#'1'!C)* :7?9=<<444444444444 6>9=?7444444444 6:@976?444444444444 6>9@8=44444444444444 :9>:64444444444444444 697;<4444444444444444 6@9;7644444444444444
*.1.C)* 6:89=>7444444444444 6?9?<:444444444 6=>9;;;444444444444 689>7<44444444444444 :96?:4444444444444444 >9>864444444444444444 >69;:744444444444444
0*,'!C)* :7>9?:;444444444444 6697:>444444444 6:<9=6>444444444444 6?9>;744444444444444 :9>684444444444444444 >9><?4444444444444444 >;9;;:44444444444444
2'E'!C)* 6=?96=@444444444444 6=9>?>444444444 6<79<;:444444444444 >69>6<44444444444444 :9:884444444444444444 =97=?4444444444444444 >@9==@44444444444444
1*1%(# 69==@9>@>44444444 68=98<6444444 6986>9:=?44444444 >;<9>8?444444444444 :?9:<:44444444444444 >=96<>44444444444444 >??9877444444444444
1FGHIF4:4J42HKFLMF4J4#NO45OFPQRK4F4COK42HSTFUVO4J46;:;
!"# $%##%&'()* $%##%&'()* $%##%&'()*+ ,'-./0* ,'-./0* ,'-./0* ,'-./0*
$%&%12' &)%2/(3%3' 2*2%0 $'4/'1* &)%13' !*2* 2*2%0+
5%1'()* 67789:;++++++++++++ :<879:+++++++++ 6<98=6>++++++++++++ 7;8;>?++++++++++++++ 98;??++++++++++++++++ ;8?96++++++++++++++++ ==86@9++++++++++++++
A',')'()* :;>87>?++++++++++++ :68;?7+++++++++ :?:89>6++++++++++++ 6;8@<;++++++++++++++ 986?:++++++++++++++++ =89?6++++++++++++++++ 7:8;;9++++++++++++++
!%)B* 9;989=<++++++++++++ :98<@=+++++++++ 9>:8>;:++++++++++++ ::8>=;++++++++++++++ 98;;<++++++++++++++++ :89=>++++++++++++++++ :;8;>9++++++++++++++
%C)(0+ 9;;8<76++++++++++++ 9?87:?+++++++++ 9>;89<:++++++++++++ :@8?6?++++++++++++++ 989::++++++++++++++++ :8666++++++++++++++++ :786?7++++++++++++++
!%(* 9;@8<6?++++++++++++ :@8;<9+++++++++ 9>9879@++++++++++++ :@8?76++++++++++++++ 98:6<++++++++++++++++ :8@<?++++++++++++++++ :78:=?++++++++++++++
5/1D* 9?;877;++++++++++++ :989>;+++++++++ :9<8;6:++++++++++++ ::8<69++++++++++++++ 989@@++++++++++++++++ :86:=++++++++++++++++ :;89=;++++++++++++++
5/0D* 9;;8<7>++++++++++++ 9?8>>>+++++++++ 9>;8;6;++++++++++++ :@89;?++++++++++++++ 989=:++++++++++++++++ 98:=6++++++++++++++++ ::8=<7++++++++++++++
%&*#2* 9;78=9;++++++++++++ :986>6+++++++++ 9>=8>??++++++++++++ :989=7++++++++++++++ 98::>++++++++++++++++ 98<?=++++++++++++++++ :789<<++++++++++++++
#'2'!C)* 9>>8@@;++++++++++++ ::8;<6+++++++++ :9@8;<?++++++++++++ :786@>++++++++++++++ 986=6++++++++++++++++ :8;>7++++++++++++++++ :>867=++++++++++++++
*/2/C)* :@;8:?:++++++++++++ ::8?<<+++++++++ ::?8:;?++++++++++++ :;8;6;++++++++++++++ 986?<++++++++++++++++ 68@<=++++++++++++++++ 6989@>++++++++++++++
1*,'!C)* :@786<@++++++++++++ :68667+++++++++ ::<8<@7++++++++++++ :>8><6++++++++++++++ 9867<++++++++++++++++ 68>96++++++++++++++++ 678@66++++++++++++++
3'E'!C)* 9>;86><++++++++++++ :98>?:+++++++++ :@>8:<?++++++++++++ :;8?=>++++++++++++++ 987@;++++++++++++++++ 689:7++++++++++++++++ 6987>>++++++++++++++
2*2%(# :87978@9?++++++++ :;;8:77++++++ :8;>@8:;6++++++++ 69>866:++++++++++++ 9;89@@++++++++++++++ 6;8<7=++++++++++++++ 6<989<<++++++++++++
2FGHIF+:+J+3HKFLMF+J+CNK+3HOPFQRN+F+#SN+5NFTUVK+J+:@9@
!
[P!!
/&%@"(U(B(A'>%<'(j(
!
!
(
/&%@"(U(B(A'>%<'(Y(
!
!
/&%@"(U(B(A'>%<'(2(
!
!
/&%@"(U(B(A'>%<'(F(
!
(
!
!"##"$%&'()
!"$"*+%,'"+-&.".% /(+"0
1%23-0()
!%4-%*(
1%23-0()
,'"*.%5(+( /(+"0
6789:;< =>?@AAB)))))))))))) C>@DE=))))))))) =FC@G?G)))))))))))) EC@GD=)))))))))))))) G@GEB)))))))))))))))) ??@DFD)))))))))))))) FF@BEG))))))))))))))
H919;9:;< CGD@B==)))))))))))) >B@A?=))))))))) CBB@FEA)))))))))))) =F@B=>)))))))))))))) A@=BF)))))))))))))))) F@BEC)))))))))))))))) EA@AAE))))))))))))))
57;I< GG=@ABG)))))))))))) >>@=>E))))))))) GED@FA?)))))))))))) >C@F?>)))))))))))))) G@A=?)))))))))))))))) >@?CC)))))))))))))))) CG@GGD))))))))))))))
7J;:K) GG>@FDB)))))))))))) >D@AD>))))))))) GBC@???)))))))))))) >D@GEF)))))))))))))) A@?FD)))))))))))))))) >@>B?)))))))))))))))) >B@DCD))))))))))))))
57:< GA?@BAD)))))))))))) >?@>FA))))))))) G=G@A?A)))))))))))) >D@=GF)))))))))))))) A@>>C)))))))))))))))) G@EFC)))))))))))))))) >=@FBF))))))))))))))
6L8M< GFB@?>?)))))))))))) >G@EBE))))))))) >>?@D?F)))))))))))) >=@AD=)))))))))))))) A@?CF)))))))))))))))) >@>=D)))))))))))))))) CA@EAC))))))))))))))
6LKM< GGD@AG=)))))))))))) GF@>=>))))))))) G=F@BDD)))))))))))) GF@>E?)))))))))))))) A@?EB)))))))))))))))) A@>F=)))))))))))))))) >>@?=>))))))))))))))
7,<N/< GGG@>?>)))))))))))) >A@EC=))))))))) GB=@ABD)))))))))))) >?@GAE)))))))))))))) A@GEG)))))))))))))))) G@GBA)))))))))))))))) >B@DEG))))))))))))))
N9/95J;< GEG@>BA)))))))))))) >=@?GA))))))))) >AF@=D>)))))))))))) >E@?EA)))))))))))))) A@==C)))))))))))))))) C@CFD)))))))))))))))) C=@>GB))))))))))))))
<L/LJ;< >AG@BG?)))))))))))) >E@CGE))))))))) >BA@A=F)))))))))))) C>@DGA)))))))))))))) A@=>E)))))))))))))))) =@>>B)))))))))))))))) =G@?AB))))))))))))))
8<195J;< GFB@EED)))))))))))) >=@A>B))))))))) >>>@?AB)))))))))))) C>@?EA)))))))))))))) A@=B>)))))))))))))))) B@?BE)))))))))))))))) =>@DG>))))))))))))))
O9P95J;< >G?@=GC)))))))))))) >=@A>C))))))))) >BB@EED)))))))))))) CF@AE>)))))))))))))) A@CEG)))))))))))))))) E@D=F)))))))))))))))) =F@FG=))))))))))))))
/(+"0)AD?D >@E=A@>DA)))))))) C>?@DD=)))))) C@>DG@>DE)))))))) =A>@BDB)))))))))))) G?@A=?)))))))))))))) B?@DDE)))))))))))))) BA=@FB=))))))))))))
7Q-#+%)R)AG).%)S%T)AD??)")AA)S%T)
AD?AUC@AAF@BFE)))))))) CE?@EE>)))))) C@E??@=E?)))))))) =B?@FDF)))))))))))) GG@=AG)))))))))))))) B=@GBG)))))))))))))) BE?@FDC))))))))))))
/"V%0")G)R)O%W"*.")R)O%W"*.")X(')W(."0&.".%)R)7WV(#)N%*+&.(#)R)AD?D)%)X'(Q%YZ()X"'")()X'&W%&'()"*().()3&30(
U7-W%*+().%)=[)*").%W"*.")%W)'%0"YZ()")AD?D)%)"-W%*+()".&3&(*"0).%)D@F[)'%0"+&T()"(#).(&#)X'&W%&'(#)W%#%#).%)AD??)X"'")3(WX"+&V&0 &\"')3(W)()
&*&3&().()3&30()+"'&S]'&()%W)AG^DA^AD??@
!"#$%&'()*+ ,-./0
12**23()4$* ,-.50
678)2 ,-.90
!:"*#(+8(+;(%2<82+=+>?@ /.-A0
?2B(C2+-+=+;(%2<82+=+124#)D)E2FG$+8$*+%(*(*+
8(+H2<()4$+(+I('(4()4$+<2+8(%2<82+!<"2C
!"#$% !"#$& !"#$' !"#$( !"#$)
*"+!, -. -/0. -/0. -/0. -/0.
*1+2+,!3# -. %&/(. %4/%. &-/&. ''/5.
6!78,!$)$9$:82!"3!$9$;8<18"=+!>?$8?=>2!3#?$38$1<8?1>28"=#
!"#$% !"#$& !"#$' !"#$( !"#$)
*!++!,-./#+ )0&&10213$$$$$$$$ )0)('0)34 )03240&5% 40&&3022' 4045&0(11
6-789:#+$;-<8-=#$>#=#+? 25)0)'&$$$$$$$$$$$$ 2(2034( 21&02'4 3(50'55 31502%3
@#=#+ 240'2'$$$$$$$$$$$$$$ 3501)4 3)03%' 15014& 140(%1
A!B-:!$4$C$D->!"E!$C$D->!"E!$-+=.>!E!$F#/$>#E!:.E!E-
!
Fc!!
/&%@"(U(B(A'>%<'(i(
!
(/&%@"(U(B(A'>%<'(k(
!
(/&%@"(U(B(A'>%<'(s(
!
!"#$%&$'(!
)*!"*
+,!%$'-+*.*
"/01"+
,$%213$)*,+%*
)!0213+
,$))$4!1%+)**
,+%*)!0213+
5!/&67+)*,+%*
)!0213+
!"#"#$"#%&'#()*+,#*&-("./% 898 8: ;< = 8> 9=?<<< 9?@<<
0"#"#1"##%&'#()*+,#*&-("./% 8;= 8: ;< = 8> 9=?<<< 9?@<<
.("%#%/2#()*+,#*&-("./% :< 9= A< = =: 9;?<<< A?9<<
3"2&+"#4#5#6*&-7"#-&89&-(."#5#."./%#5#6*&-7"#':)('"#;-&<(%7"
B1,+*3!*31$ 31$)*,+%*$0+C+%$)*,+%*
31$
102!%5$7+*
"DE1"+*.*
"10
FGHF
!"#$%&#"%&'()"*+",-'%
."%%"/'0*$% 1'2+34$%&
4'1'%
5'(.$&#'&
5*"1'%%0"&6&
(078
405*$%&#'&
+$()3%521'4&
.$*&
5*"1'%%0"
+3%5$&
('7%"4&#"&
5*0.34",9$&6&
:;
53*("%&#'&
$.'*",9$
+3%5$&#"&
*'10%9$&<"&
+"#"&=&"7$%>&
6&:;
!"#$%&'(%&)*+,% -.. /. -. 01. 1-21.0'''''''''' 3 124..2...
56&789':7"7+,;#< -.. /. -. 01. 1/2=>-'''''''''' 3 124..2...
?*$,#*&% @.. 40 -. 1/. 1-21.0'''''''''' 3 124..2...
:7&*7'A#B,C$*7 12... 44 -. 0.. 1-21.0'''''''''' 3 124..2...
D*%'?7&7"67E6 @.. 40 -. 1/. 1-21.0'''''''''' 3 124..2...
FG67E6 @.. 40 -. 1/. 1-21.0'''''''''' 3 124..2...
FH#B#'I7$"7+% -.. >0 4. 01. 1323@4'''''''''' 3 024..2...
!$$7'J#&9 @.. >. 4. 01. 1323@4'''''''''' 3 024..2...
K%B7+'L'MN)*7 -2... 433 4@ 0.1 10-2>44''''' 3 1=2...2...
OPQ'6M'<#$B*)%'R'#MS7&T6#U)#<7B&787E;%UG#&86&<%U7B&787E;%U)#<#MS7&T6#
K7S#+7'@'R'VW#&B7'&#T6#&*)7'R')7)%<'R'X7)%<')7<'#MS7&87EY#<
!"#$%$&'%
"()*+,(-"#%.&%
)&/"#.0$
!"#$%$01%"()*+,(-"#%.&%
)&/"#.0$2342
!"#$%50/%#(0%6%'7."# 89:%%%%%%%%%%%%%%%%%%%% 9;%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% <=:%%%%%%%%%%%%%%%%%%%%
>0/#$%.&%05&/#?@0%50/%."# A9%%%%%%%%%%%%%%%%%%%%%% 8B%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
4#/C".#$%."D/"#$%5/&E"$C#$%F#'10$%0$%$&(C".0$G HB%%%%%%%%%%%%%%%%%%%%%% I=%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
J(C&/E#*0%'7."0%5/&E"$C0%6%'"( 8I%%%%%%%%%%%%%%%%%%%%%% <;%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
2#5#-".#.&%5#/#%5#$$#K&"/0$%50/%$&(C".0%6%."D/"#%5/&E"$C# 8:LA;;%%%%%%%%%%%%%% <BL=;;%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
2#5#-".#.&%5#/#%E&M-+*0$%50/%$&(C".0%6%."D/"#%5/&E"$C# 8LHHI%%%%%%%%%%%%%%%% <L8A9%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
N'1#/-#?O&$%#*0-#.#$%F$&'%/&$&/E#G =%%%%%%%%%%%%%%%%%%%%%%%%% =%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% =%%%%%%%%%%%%%%%%%%%%%%%%%
4#/C".#$%."D/"#$%F#'10$%0$%$&(C".0$G HB%%%%%%%%%%%%%%%%%%%%%% I=%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
PK&(0/%Q0/."*R0 A=%%%%%%%%%%%%%%%%%%%%%% A;%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
S+/#-T%3#K#*R@&$ A=%%%%%%%%%%%%%%%%%%%%%% A;%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
4"(R&"/0 9%%%%%%%%%%%%%%%%%%%%%%%%% A=%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
3#/"#%U&CRV("# 6%%%%%%%%%%%%%%%%%%%%% 6%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
W"0%4#/#K+#?+ 6%%%%%%%%%%%%%%%%%%%%% 6%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
J5+#?+ 9%%%%%%%%%%%%%%%%%%%%%%%%% 8B%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
JE&C&%X#(K#*0 A<%%%%%%%%%%%%%%%%%%%%%% A9%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
P((#%Y&/T A<%%%%%%%%%%%%%%%%%%%%%% A9%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
Y0C#$Z%
%A%6%/&$+*C#.0%.&%0C"'"[#?@0%.#%0)&/C#%5#/#%-+'5/"'&(C0%.0$%/&\+"$"C0$L
%8%6%#%E"K0/#/%#%5#/C"/%.&%;A];I]8;A<^%#5_$%#%&C#5#%.&%C/#($"?@0L
`#1&*#%I%6%2D*-+*0%.#%0)&/C#%6%4#./@0%.&%0)&/C#%.&)"("C"E0
!
FQ!!
/&%@"(U(B(A'>%<'(l1(
!
(/&%@"(U(B(A'>%<'(ll(
!
!
(/&%@"(U(B(A'>%<'(lp(
!
(/&%@"(U(B(A'>%<'(lj(
!"#$%&'(&%)(*+,-%&'+#&(./+*0+,1(#
23+#&#(.&
3456"7403+&'(&
5(*3+'%
23+#&#%/&
3456"7403+&'(&
5(*3+'%
8%$+6
!"#$%&+4"+6&'(&%)(*+,-%&&9&:;&.36 <=>?@<&&&&&&&&&&&&&&& A>BBC&&&&&&&&&&&&&&&&& D?>?C<&&&&&&&&&&&&&&&
0%./"#$EF(6 A>D<A&&&&&&&&&&&&&&&&& <>BGH&&&&&&&&&&&&&&&&& @@>DC<&&&&&&&&&&&&&&&
.+4"$(4,-%&'(&*%$34+&I)*(F(4$3F+&(&0%**($3F+J ?>ADC&&&&&&&&&&&&&&&&& <>CA<&&&&&&&&&&&&&&&&& G>B@@&&&&&&&&&&&&&&&&&
$*3)"6+,-%&I3406"3&HCK&'%&(5($3F%&(.&%)(*+,-%&)+*+&*(#(*F+&(&5L*3+#J H>BAA&&&&&&&&&&&&&&&&& @>HCC&&&&&&&&&&&&&&&&& =>DAA&&&&&&&&&&&&&&&&&
%"$*%#&0"#$%#&34'3*($%#&I#(M"*%#N&($0>&9&<?K&'%#&0"#$%#&+4$(*3%*(#J H>GAG&&&&&&&&&&&&&&&&& @>=@H&&&&&&&&&&&&&&&&& =>HCC&&&&&&&&&&&&&&&&&
*(F3#-%&+&0+'+&H&+4%#&I$%$+6&)+*+&A&(./+*0+,1(#&9&0"#$%&.L'3%&+4"+6J <>?GB&&&&&&&&&&&&&&&&& B<@&&&&&&&&&&&&&&&&&&&&& D>?CC&&&&&&&&&&&&&&&&&
+4%&.L'3%&0%4#3'(*+'%O&AC&'3+#&#%/&3456"7403+&'(&5(*3+'%#&(&<A?&'3+#&#(.&3456"7403+&'(&5(*3+'%>
!!!!!!"#$%&'(!)#&#!%!)#*&+%!*'!%,'&-#!*',./.-."%
8+/(6+&@C&9&!"#$%&'(&P)(*+,>&'(&Q./+*0+,1(#&9&!"#$%&'+&%)(*+,-%&'+#&(./+*0+,1(#&4%&+4%&.L'3%
!"#$%&%
'()(*&"*+,$-+%'()(*&"*
).#/+,%
012)%*)%)(3*
4%5"67*8**9:*
/+3
9";+2<"2*
4-(5"67*8*9:*
/+3
=>?>*45(#(*#"@"#A,-+(7 ?8B(,8?> C?8'"-8?> =DE===*************** CEF>>*****************
?%*(,%* =C8G"H8?? ==8G"H8?= =DE=I?*************** CEF>>*****************
=%*(,%* =C8G"H8?= ==8G"H8?C =IE=CJ*************** CEF>>*****************
C%*(,%* =C8G"H8?C ==8G"H8?D C?EFII*************** CEF>>*****************
D%*(,%* =C8G"H8?D ==8G"H8?F CFEFJC*************** CEF>>*****************
F%*(,%* =C8G"H8?F ==8G"H8?I CFEII?*************** CEF>>*****************
*-%,2+&"#(*%@"#)(*()1(3K*&"*)#(,2+LM%*"*&%*5(&#M%*&"@+,+)+;%*-%,@%#/"*(53+-N;"+2*5(#(*-(&(*(,%E
O(H"3(*??*8*012)%*&"*P5"#(LE*&"*Q/H(#-(L<"2*8*012)%*&"*%5"#(LM%*&(2*"/H(#-(L<"2*8*?%*(%*F%*(,%
!"#$%&'%$()&*%&+()(,-%&./0/ 11234.2156&&&&&&&&&&&&
!"#$%&'%$()&*%&+()(,-%&./0/&7%889:9*% 132/;;26/5&&&&&&&&&&&&
<=>8=79(-?%&./0/ @.23/.23/AB&&&&&&&&&&&&&
C()%8&*=&!"#$%#&!(9D( 1.23;125/.&&&&&&&&&&&&
!"#$%&E>=8(79%,()&FGH2&I$"() @.62...2.63B&&&&&&&&&&&
C()%8&*=&!"#$%#&*=&'=8G9,(9#&=&I*G2 421602;3A&&&&&&&&&&&&&&&
<($(&H(#=J&./0/
'(H=)(&0.&K&!"#$%#&=&<=#>=#(#&K&!%G>%#9-?%&*%&7"#$%&*=&$=8G9,(9#&=&
(*G9,9#$8(-?%
!"#$% !"#$& !"#$' !"#$( !"#$)
*+,-#,$./$#0/1!23#$.!,$/45!16!27/, &(8&9:8;<;$$$$$$$$$$$$ &98&'<8%:)$$$$$$$$$$$$ '%8)998%%'$$$$$$$$$$$$ ')8)<'8%:<$$$$$$$$$$$$ ')899%8&9%$$$$$$$$$$$$
*+,-#,$./$=/14>"!>,$/$?.4>">,-1!23# @8'(%89)<$$$$$$$$$$$$$$$ @8'(%89)<$$$$$$$$$$$$$$$ @8'(%89)<$$$$$$$$$$$$$$$ @8'(%89)<$$$$$$$$$$$$$$$ @8'(%89)<$$$$$$$$$$$$$$$
A/,0/,!, )8:::8:::$$$$$$$$$$$$$$$ )8:::8:::$$$$$$$$$$$$$$$ )8:::8:::$$$$$$$$$$$$$$$ )8:::8:::$$$$$$$$$$$$$$$ )8:::8:::$$$$$$$$$$$$$$$
=#-!B '<89:&89'9$$$$$$$$$$$$ ';8)<@8<9&$$$$$$$$$$$$ ((8;:<8<<:$$$$$$$$$$$$ (@8;%(8<9($$$$$$$$$$$$ (;8::&8;%@$$$$$$$$$$$$C#-!D$6+,-#$./$=/14>"!>,$/$?.48$6!B6+B!.#$0/B!$
.>E/1/"2!$/"-1/$#$-#-!B$./$F!,-#,$/4$&:%:$6#11>F>.#,$
=!5/B!$%'$G$*+,-#,$/$A/,0/,!,$G$H1#I/23#$./$6+,-#,$/$./,0/,!,
!
FY!!
/&%@"(U(B(A'>%<'(lY(
!
(/&%@"(U(B(A'>%<'(l2(
!
(/&%@"(U(B(A'>%<'(lF(
!
(
/&%@"(U(B(A'>%<'(li(
!
!"#$%#&'(&%)(*+,-%&'+#&(./+*0+,1(# 2342224235&&&&&&&&&&&&
!"#$%#&'(&6(*.78+7#&(&9'.4 :4;3<4=5>&&&&&&&&&&&&&&&
?(#)(#+# 54@@@4@@@&&&&&&&&&&&&&&&
!"#$%#&(&'(#)(#+# ;>45=;4A@2&&&&&&&&&&&&
B&!"#$%#&(&?(#)&0%.&780*(.4&)*%'4&)*(C7#$+ ;5D5B
!%**(,-%&'%#&!"#$%#&E78FG+,-%H 3D3B
!"#$%#&'(&$(*.78+G&I"(&+".(8$+.&0%.&'(.+8'+ 2@D@B
B&'%#&0"#$%#&'(&$(*.78+G 22D2B
6+/(G+&<3&J&!"#$%#&(&?(#)(#+#&J&K8'70(#&L(*+7#
!"#$% !"#$& !"#$' !"#$( !"#$)
*+,-#,$.$/.,0.,!,$!"-.,$/#,$.1.2-#, '3456&45'5$$$$$$$$$$$$ '74)38435&$$$$$$$$$$$$ ((47634336$$$$$$$$$$$$ (847%(435($$$$$$$$$$$$ (7466&47%8$$$$$$$$$$$$
91.2-#$0:#/+-2;2/!/. %<666$$$$$$$$$$$$$$$$$$$$$$$ 6<78&$$$$$$$$$$$$$$$$$$$$$$$ 6<75($$$$$$$$$$$$$$$$$$$$$$$ 6<7(3$$$$$$$$$$$$$$$$$$$$$$$ 6<7&7$$$$$$$$$$$$$$$$$$$$$$$
*+,-#,$;!:2=;.2, %<666$$$$$$$$$$$$$$$$$$$$$$$ %<66'$$$$$$$$$$$$$$$$$$$$$$$ %<66)$$$$$$$$$$$$$$$$$$$$$$$ %<668$$$$$$$$$$$$$$$$$$$$$$$ %<6%&$$$$$$$$$$$$$$$$$$$$$$$
*+,-#,$.$/.,0.,!,$!0>,$#,$.1.2-#, '3456&45'5$$$$$$$$$$$$ '847374(7($$$$$$$$$$$$ ('4))64)'($$$$$$$$$$$$ (5436%45))$$$$$$$$$$$$ (546)&457&$$$$$$$$$$$$
[email protected]!$%)$B$*+,-#,$.$C.,0.,!,$B$D:#E.FG#$/#,$H!,-#,$.$.1.2-#,$/!$0:#/+-2;2/!/.$.$/#,$I+,-#,$;!:2=;.2,
!"#" $%&'# $%&'! $%&'( $%&') $%&'*
+',-./01'234 )5(6+ )5)7+ )5*7+ )58*+ )58*+
2&9:;$<=&'4-$/>; #6#1)?#'''''''''''''''''' #6(1!*('''''''''''''''''' #6)16(('''''''''''''''''' #681*!8'''''''''''''''''' #6?1")('''''''''''''''''' #661)6!''''''''''''
,-./01'-.%@$'9.-'0$9>A$ (5)+ (58+ (57+ (5?+ (5?+
2-&@:A>B>@$@. "5"+ *5"+ *5"+ *5"+ *5"+
C$D.;$'#8'E',:/A&/'.'F./9./$/'E'2-&G.<H./'@.'I.-0$@&
!"#$%"&'(&)&*"+$&,$&-$./0$-"123&)&43.53+6123
7'8 798 4:;4 7<8
=.3#6%6>",3&?@A/6,3&
,$&B$5-$C6"123&)&
!D*&)&E$.&
=0F"0G@H$%
B$5-$C6"123&
IC/./%","&)&!D*
=.3#6%6>",3&&F3F"%&
IC/./%",3&023&
B$5-$C6",3&)&!D*
J.#"-C"123&$.&
430+F-/123
9KKL MN9OPNQKM&&&&&&&&&&&&&&&&&&&&& 9LLNPKO&&&&&&&&&&&&&&&&&&& &&&&&&&&&&&&&&&&&MNPK9NO'9&
9KK( <<NO99NLPQ&&&&&&&&&&&&&&&&&& (Q'NO'P&&&&&&&&&&&&&&&&&&& &&&&&&&&&&&&&&&<PN'KONM(O& 79QNKKKNKKK8&&&&&&&&&&&&
9KKQ L9NLPPNKP'&&&&&&&&&&&&&&&&&& 'NLPKN((<&&&&&&&&&&&&&&&& &&&&&&&&&&&&&&&L<NOKPNQ9P& 9QNKKKNKKK&&&&&&&&&&&&&
9KKM LQN<KMN9KQ&&&&&&&&&&&&&&&&&& ONK9<NK(M&&&&&&&&&&&&&&&& &&&&&&&&&&&&&&&('N<OON9Q(&
9K'K 'K9N('ONMOO&&&&&&&&&&&&&&&& PN''9N(QM&&&&&&&&&&&&&&&& &&&&&&&&&&&&'K(NQ9LN(99&
!3F"% &&&&&&&&&&&&&&&&&'K9N('ONMOO& PN''9N(QM&&&&&&&&&& &&&&&&&&&&&&'K(NQ9LN(99& &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&)&&&
I03
!
F"!!
!
!
!
!"#$%"&'(&)&*"+$&,$&-$./0$-"123&)&43.53+6123
789 7:9 7(9 7;9
<%/=3&,$&
>.3#6%6?",3+&
@$A6+B-",3+
C"%3-$+&
D$,/?6,3+&,3&
<%/=3
C"%3-$+&
E,6F630",3+&$.&
G/#+B6B/6123&"3+&
D$,/?6,3+
<%/=3&,$&
>.3#6%6?",3&&!3B"%&
023&D$5-$F6",3&)&
430+6,$-",3
HII: JK8IHKL'H&&&&&&&&&&&&&&&&&&&&& 78KJ(8K:II9&&&&&&&&&&&&&& LK8H:K('H&&&&&&&&&&&&&&&&
HII( (K:I'K::'&&&&&&&&&&&&&&&&&&&&& (K:I'K::'&&&&&&&&&&&&&&&&
HII; M(KHI'K;8H&&&&&&&&&&&&&&&&&& 7LMK;;8KL:H9&&&&&&&&&&&& HHK'L(K':8&&&&&&&&&&&&& LMKM8LK:8M&&&&&&&&&&&&&
HIIJ (K'H(KM:H&&&&&&&&&&&&&&&&&&&&& (K'H(KM:H&&&&&&&&&&&&&&&&
HI'I L:KLJLKML8&&&&&&&&&&&&&&&&&& 7LJKJ;IKIII9&&&&&&&&&&&& HLK8(MKMJJ&&&&&&&&&&&&& 'JKJ;(KJLM&&&&&&&&&&&&&
!3B"%N &&&&&&&&&&&&&&&&&'I(K;H:K(HH& 7;IK;MIKJ:H9&&&&&&&&&&&& &&&&&&&&&&&&&&&M8K(''K::M& &&&&&&&&&&&&&&&(HK:J(KMHM&
E03
!"#$%"&'(&)&*"+$&,$&-$./0$-"123&)&43.53+6123
789 7':9 7''9 7';9
<&,$&43--$123
=%/>3&,$&
?.3#6%6@",3&023&
A$5-$B6",3&
430+6,$-",3&)&
43--6C6,3
?.3#6%6@",3&&!3D"%&
EB/./%",3&023&
A$5-$B6",3&)&
430+6,$-",3
<&A$5-$B6"123&
+3#-$&3&
"B/./%",3
;::F ;FG;< HIHH8I(J8&&&&&&&&&&&&&&&& KIL;FI(';&&&&&&&&&&&&&&&& ;GJ<
;::( ;'G(< 8I;H8I8(:&&&&&&&&&&&&&&&& ''I';JIK(K&&&&&&&&&&&&& 'G(<
;::J 'HG(< K8IL;JI88K&&&&&&&&&&&&& HLILJ;I:;(&&&&&&&&&&&&& ;GF<
;::8 8GL< (IJ:;I(K'&&&&&&&&&&&&&&&& L;I(:8IHJ8&&&&&&&&&&&&& HG;<
;:': KGF< ;:I('LI8:;&&&&&&&&&&&&& (;IF8(IH;H&&&&&&&&&&&&& HG(<
!3D"%M ) J'I(H(IKJF&&&&&&&&&&&&& &&&&&&&&&&&&&&&(;IF8(IH;H& HGJ<
E03
!"#$%"&'(&)&*"+$&,$&-$./0$-"123&)&43.53+6123
7'89 7':9 7';9 7'<9
=$5-$>6"123&
?>/./%","&&
430+6,$-","&
@%/A3&,$&
=$5-$>6"123&
430+6,$-","&
430B-6#/6123&
C3D$-0".$0B"%&)&
%EF/6,"&,$&
6.53+B3+
@%/A3&,$&
=$5-$>6"123&
430+6,$-","&
43--6C6,"
GHH< IJKI''&&&&&&&&&&&&&&&&&&&&&&&&&&& IJKI''&&&&&&&&&&&&&&&&&&&&&& 'G:K(II&&&&&&&&&&&&&&&&&&&
GHH( 'IGK((G&&&&&&&&&&&&&&&&&&&&&&&& I8KJ<'&&&&&&&&&&&&&&&&&&&&&& '':KG'8&&&&&&&&&&&&&&&&&&&
GHHJ 'K'(HK'G'&&&&&&&&&&&&&&&&&&&&& I((K8;H&&&&&&&&&&&&&&&&&&& 'K'G'K8GG&&&&&&&&&&&&&&&&
GHHI GKG8'K:GH&&&&&&&&&&&&&&&&&&&&& 'KH<'KGIJ&&&&&&&&&&&&&&&& 'K'<'KJ:J&&&&&&&&&&&&&&&&
GH'H 8K::(KH(8&&&&&&&&&&&&&&&&&&&&& 'KG';K<;8&&&&&&&&&&&&&&&& 7;K(JIK8G;9&&&&&&&&&&&&&& 'KG;IKIGJ&&&&&&&&&&&&&&&&
!3B"%L &&&&&&&&&&&&&&&&&&&&&&8K::(KH(8& 8K::(KH(8&&&&&&&&&&&&&&&& &&&&&&&&&&&&&&&&&8K(JGK'''&
?03
!
F9!!
!
(
/&%@"(U(B(A'>%<'(lk(
!
(/&%@"(U(B(A'>%<'(ls(
!
(/&%@"(U(B(A'>%<'(p1(
!
(/&%@"(U(B(A'>%<'(pl(
!
(/&%@"(U(B(A'>%<'(pp(
!
!"#$%"&'(&)&*"+$&,$&-$./0$-"123&)&43.53+6123
7'(8 7'98 7':8 7;<8
=0>$+?6.$0?3+&
430+6,$-",3+&)&
@AB/6,3+&,$&
C$5-$D6"123
=.3#6%6E",3&&?3?"%&
FD/./%",3&
C$5-$D6",3&)&
430+6,$-",3
G%/H3&,$&
=.3#6%6E",3&&!3?"%&&
C$5-$D6",3&)&
430+6,$-",3&)&
I23&43--6J6,3
K&,$&43--$123
;<<L MNO;MN::<&&&&&&&&&&&&&&&&&&&&& ONM;(N9<'&&&&&&&&&&&&&&&& ONM;(N9<'&&&&&&&&&&&&&&&& ;LP;K
;<<( :N'OQN(Q(&&&&&&&&&&&&&&&&&&&&& '<N:OQNL<'&&&&&&&&&&&&& (NQ<(N9<<&&&&&&&&&&&&&&&& ;'P(K
;<<9 O9NM<(NL('&&&&&&&&&&&&&&&&&& MMNM''N:<L&&&&&&&&&&&&& OONM(LNO<M&&&&&&&&&&&&& 'MP(K
;<<: LNLM<N99O&&&&&&&&&&&&&&&&&&&&& Q<NM(9N<L:&&&&&&&&&&&&& LN<LLN'LM&&&&&&&&&&&&&&&& :PQK
;<'< 'ONLLLNLQ<&&&&&&&&&&&&&&&&&& L:N;Q<NOQ'&&&&&&&&&&&&& '9N((;N;9'&&&&&&&&&&&&& OPLK
!3?"%R &&&&&&&&&&&&&&&&&&&&(;N'(QN:Q'& L:N;Q<NOQ'&&&&&&&&&&&&& &&&&&&&&&&&&&&&L:N;Q<NOQ'& (LK
F03
!"#$% !"#$& !"#$' !"#$( !"#$)
*!++,-+!$.!+!$/#0!1,2 (3444$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$$$$ (3444$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$$$$
6+#7,8#$/,$!0,99-:-;-/!/, <3444$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$$$$ (44$$$$$$$$$$$$$$$$$$$$$$$$$$$$ %3(44$$$$$$$$$$$$$$$$$$$$$$$$ &3444$$$$$$$$$$$$$$$$$$$$$$$$ '3&44$$$$$$$$$$$$$$$$$$$$$$$$
=,2#83$,$2#/,+"3$/#9$9,+>-?#9 ')3<44$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$$$$ &3)44$$$$$$$$$$$$$$$$$$$$$$$$ %43&44$$$$$$$$$$$$$$$$$$$$$$ %%3444$$$$$$$$$$$$$$$$$$$$$$ %&3444$$$$$$$$$$$$$$$$$$$$$$
@#8!; (A3<44$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$$$$ A3B44$$$$$$$$$$$$$$$$$$$$$$$$ %%3A44$$$$$$$$$$$$$$$$$$$$$$ %'3444$$$$$$$$$$$$$$$$$$$$$$ %)3&44$$$$$$$$$$$$$$$$$$$$$$
@!:,;!$%C$5$D!9,$/,$+,2E",+!?F#$5$G">,98-2,"8#9$!/-0-#"!-9$5$!;H2$/!9$+,>-9I,9
G">,98-2,"8#J!;#+$8#8!;$5$=K$
2-;
J!;#+,9$.#+$!"#$/!$+,>-9F#$5$=K$2-;
!"#$% !"#$& !"#$' !"#$( !"#$)
'*)++*+++$$$$$$$$$$$$$$ '*)++*+++$$$$$$$$$$$$$$ '*)++*+++$$$$$$$$$$$$$$ '*)++*+++$$$$$$$$$$$$$$ '*)++*+++$$$$$$$$$$$$$$
,*-++*+++$$$$$$$$$$$$$$ %%*,++*+++$$$$$$$$$$$ %'*+++*+++$$$$$$$$$$$ %)*&++*+++$$$$$$$$$$$
'*)++*+++$$$$$$$$$$$$$$ %+*(++*+++$$$$$$$$$$$ %)*%++*+++$$$$$$$$$$$ %,*)++*+++$$$$$$$$$$$ %.*/++*+++$$$$$$$$$$$0"1234562"4#3$$7#4!53$8$9"#
0"1234562"4#3$"2:233;<5#3$!=5:5#"!53
7!>2?!$%-$8$@!32$=2$<26A"2<!BC#$8$7#4!?$=2$5"1234562"4#3$D<21534#3$"#3$D<EF56#3$!"#3
0"1234562"4#3$#D2<!:5#"!53
!"#$%&'( &"#$) &"#$* &"#$+ &"#$, &"#$-
.&'($/($&012#'$%340# 5-67-869:)$$$$$$$$$$$ 576,-869:)$$$$$$$$$$$ 8768-869:)$$$$$$$$$$$ )9,67-869:)$$$$$$$$$ )*)6,-869:)$$$$$$$$$ ),96)-869:)$$$$$$$$$
!012#'$-; ,768+)6*:+$$$$$$$$$$$ ,768+)6*:+$$$$$$$$$$$ ,768+)6*:+$$$$$$$$$$$ ,768+)6*:+$$$$$$$$$$$ ,768+)6*:+$$$$$$$$$$$ ,768+)6*:+$$$$$$$$$$$
!012#'$)9; *:6)*:6578$$$$$$$$$$$ *76:*:6578$$$$$$$$$$$ ,969*:6578$$$$$$$$$$$ --6)*:6578$$$$$$$$$$$ 5)6:*:6578$$$$$$$$$$$ 796+*:6578$$$$$$$$$$$
<&%(=&$*9$>$.&'($/($3(?4"(3&@A#$>$B3#C(@A#$/&$%&'($/($3(?4"(3&@A#$>$2&=#3$%340#
!"#$%&'(')'"# "($&* "($&+ "($&, "($&- "($&.
/01%0)'"23$&.4 .4 +5-6*5.7,&&&&&&&&&&&&&& +5-6*5.7,&&&&&&&&&&&&&& +5-6*5.7,&&&&&&&&&&&&&& +5-6*5.7,&&&&&&&&&&&&&& +5-6*5.7,&&&&&&&&&&&&&&
/01%0)'"23$&*84 *84 +567+5798&&&&&&&&&&&&&& -588+5798&&&&&&&&&&&&&& .5.*+5798&&&&&&&&&&&&&& :5*7+5798&&&&&&&&&&&&&& 658,+5798&&&&&&&&&&&&&&
/01%0)'"23$&");<;#"=" ,5:9+5***&&&&&&&&&&&&&& 65+,75,.-&&&&&&&&&&&&&& *.5:,85.6:&&&&&&&&&&& +,5:,-59-8&&&&&&&&&&& ,,5,96589,&&&&&&&&&&& --56*,5,+7&&&&&&&&&&&
>"?0#"&+*&@&A"B0&=0&%0<;(0%"23$&@&C%$D023$&="&=01%0)'"23$&");<;#"="
!"#$%&'( &"#$) &"#$* &"#$+ &"#$, &"#$-
.&'($/($&012#'$34561/&$/($7#"7(''8# 9*:)9-:;-)$$$$$$$$$$$$$$$$$$ 9<:**):9<=$$$$$$$$$$$$$ 9,:)*9:,>-$$$$$$$$$$$$$ =):**+:***$$$$$$$$$$$$$ ==:<>=:;9;$$$$$$$$$$$$$ ;-:*,,:9+>$$$$$$$$$$$$$
?&%(3&$**$@$.&'($/($A(B6"(A&C8#$@$DA#E(C8#$/&$%&'($/($A(B6"(A&C8#$34561/&
!
F[!!
/&%@"(U(B(A'>%<'(pj(
!
(/&%@"(U(B(A'>%<'(pY(
!
(/&%@"(U(B(A'>%<'(p2(
!
(/&%@"(U(B(A'>%<'(pF(
!
(/&%@"(U(B(A'>%<'(pi(
!
!"#$%&$%'%()*+*,&- ./012$&-'3$'!)(456 7-/$8'
'''''''''''''''''''''''''''''''''''''''''9:;<=:<<<' >?@AB >=?<<B A:CD9:>EA''''''''''''''''
F-G*/-'E>'H'I-%*'3*'8*"2J*8-KL$'H'4M/+2/$'3$'N-/$8'+$J%,3*8-3$'H'4$J&8,G2,KL$'3$'
O$N*8J$'#-8-'PI'.JJ-'Q*8R
!"#$%&$"
'&("%)*+),-)#&)
&../#&$0%&)1")
2"#$%&$"
'&("%)*+)34-)
*.$/+&1".)#")
2"#$%&$"
!"$&56" !"#$%&$")1/& 7#1/2*)1*)8%"2&
!9:;: <=>??@>A=?))))))))))) :B>AC@>@?<))))))))))) <D::@: :AEA<E<AAF G8HI)@AA)J)K!
!9:;B <=>??@>A=?))))))))))) :B>AC@>@?<))))))))))) <D::@: :AEA<E<AAF G8HI)@AA)J)K!
8"$&( C=>CCF>:=B))))))))))) <@>::?>?BB)))))))))))
8&L*(&)<B)J)K&.*)1*)%*+0#*%&56")J)'&("%*.)L&.*)1")2"#$%&$")1*)2"+M%&)1&.)*+L&%2&5N*.
!"#$%&'"&($)"&*+,-"#."'$,&-$/)012+,&3&
45
.6#"%2,&
"78,)"'$,&3&9:5;$)"<=$ ;$/)%")$&'+"
45&/"&'")"&
;$/>2%)+'$,&3&
;$/)%")$
;(?@? @ABCCDB@EF45&&&&&& ?@BCGHBFDG&&&&&&&&&&& ?IEG@@ GHJGHJFGGC FFB?@HB?ED&&&&&&&&&&&
;(?@A @KBKCGBGGG45&&&&&& ?@BCGHBFDG&&&&&&&&&&& ?IHGHA FGJ?FJFG?G F@BDHABAKK&&&&&&&&&&&
L$)"# HABCEDB@EF45&&&&&& FHBE?ABDG?&&&&&&&&&&& ADBH??BEEA&&&&&&&&&&&
L"12#"&FD&3&M",2&'2&%2N8/2%"<=$&3&."'$,&-$/)012+,&2&>"#$%2,&")8"#+O"'$,&'2&"-$%'$&-$N&$&-$/)%")$
!"#$% &
'($)*#*+",$ -./012/314555555555555555555 -3&
678%$9 4-/0.0/2-:555555555555555555 4-&
;$8"# :<4/-:3/=335555555555555555 :<<&
;")>#"5415?5@"9>5,>5%>(7A>%"BC$5?5!"#$%58$8"#5,$95"8*D$95%>E*98%",$95
>(5)"#"AB$
!"#$%&'( &"#$) *+,* &"#$- &"#$. &"#$/
01#%2324&5#$6/78 ./9:))9;;.$$$$$$
01#%2324&5#$6)<78 =;9>?/9:;<$$$$$$
@#A#'$0"A('B21("B#'$6)<78 -9/<<9<<<$$$$$$$$ )<9.<<9<<<$$$$$$ )/9)<<9<<<$$$$$$ );9/<<9<<<$$$$$$ )?9:<<9<<<$$$$$$
C#B&3$ :=9;>:9.=.$$$$$$ -9/<<9<<<$$$$$$$$ )<9.<<9<<<$$$$$$ )/9)<<9<<<$$$$$$ );9/<<9<<<$$$$$$ )?9:<<9<<<$$$$$$
C&%(3&$=:$D$E("(FGH2#$F2'H&3$5&$5(IJ(H2&KL#$D$E&'($5($&B2A#'$H#1$5(IJ(H2&KL#$5($/7$($)<7
!
FF!!
/&%@"(U(B(A'>%<'(pk(
!
(/&%@"(U(B(A'>%<'(ps(
!
(/&%@"(U(B(A'>%<'(j1(
!
/&%@"(U(B(A'>%<'(jl(
!
!"#$% !"#$& !"#$' !"#$( !"#$)
*+,-+./!01#$2/3.!4$5$67#8/4/9!:# ); &<&=)<)='$$$$$$$$ &<&=)<)='$$$$$$$$ &<&=)<)='$$$$$$$$ &<&=)<)='$$$$$$$$ &<&=)<)='$$$$$$$$
*+,-+./!.!#$2/3.!4$5$>?@-#3 %A; &<BC=<)DB$$$$$$$$ &<BC=<)DB$$$$$$$$ &<BC=<)DB$$$$$$$$ &<BC=<)DB$$$$$$$$ &<BC=<)DB$$$$$$$$
E!3+$!"#$% %A; ')A<AAA$$$$$$$$$$$$ ')A<AAA$$$$$$$$$$$$ ')A<AAA$$$$$$$$$$$$ ')A<AAA$$$$$$$$$$$$ ')A<AAA$$$$$$$$$$$$
E!3+$!"#$& %A; 5$$$$$$$$$$$$$$$$$$$$$$$$$ %<A=B<=AA$$$$$$$$ %<A=B<=AA$$$$$$$$ %<A=B<=AA$$$$$$$$ %<A=B<=AA$$$$$$$$
E!3+$!"#$' %A; 5$$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$ %<B(=<C)=$$$$$$$$ %<B(=<C)=$$$$$$$$ %<B(=<C)=$$$$$$$$
E!3+$!"#$( %A; 5$$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$ %<==&<C&($$$$$$$$ %<==&<C&($$$$$$$$
E!3+$!"#$) %A; 5$$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$ 5$$$$$$$$$$$$$$$$$$$$$$$$$ &<&'A<A%A$$$$$$$$
*+,-+./!01#$F#@!4 )<''(<%)C$$$$$$$$ B<(&A<C)C$$$$$$$$ =<ABC<C%D$$$$$$$$ C<C)&<=(%$$$$$$$$ %&<%=&<=)%$$$$$$
F!8+4!$&=$5$E+"+GH./#$G/3.!4$:!$:+,-+./!01#$5$*+,-+./!01#$"#7/"!4$:+$!@/I#3$.#7$:+,-+./!01#$:+$);$+$%A;
!"#$% !"#$& !"#$' !"#$( !"#$)
*+,-+./!.!#$0/1.!2$3$45#6/2/7!8# )9 &:%;<:%=%$$$$$$$$ &:>?&:?<<$$$$$$$$ &:>>&:;(?$$$$$$$$ %:?%=:=>&$$$$$$$$ %:;'(:>=?$$$$$$$$
*+,-+./!.!#$0/1.!2$3$@AB-#1 %>9 &:);&:'=?$$$$$$$$ &:(<%:%=<$$$$$$$$ &:'=(:<)'$$$$$$$$ &:&=&:?&%$$$$$$$$ &:%=):(<)$$$$$$$$
C!1+$!"#$% %>9 ''(:?&;$$$$$$$$$$$$ '&>:)>)$$$$$$$$$$$$ '>=:<>($$$$$$$$$$$$ &?':(?=$$$$$$$$$$$$ &;>:;);$$$$$$$$$$$$
C!1+$!"#$& 3$$$$$$$$$$$$$$$$$$$$$ ??):&%)$$$$$$$$$$$$ ?)&:')?$$$$$$$$$$$$ ?%%:'(;$$$$$$$$$$$$ ;<&:%>($$$$$$$$$$$$
C!1+$!"#$' 3$$$$$$$$$$$$$$$$$$$$$ 3$$$$$$$$$$$$$$$$$$$$$ %:(((:?<=$$$$$$$$ %:';&:<)&$$$$$$$$ %:'&':&>;$$$$$$$$
C!1+$!"#$( 3$$$$$$$$$$$$$$$$$$$$$ 3$$$$$$$$$$$$$$$$$$$$$ 3$$$$$$$$$$$$$$$$$$$$$ %:)<;:?(<$$$$$$$$ %:)%>:?)($$$$$$$$
C!1+$!"#$) 3$$$$$$$$$$$$$$$$$$$$$ 3$$$$$$$$$$$$$$$$$$$$$ 3$$$$$$$$$$$$$$$$$$$$$ 3$$$$$$$$$$$$$$$$$$$$$ %:<;?:(<($$$$$$$$
*+,-+./!DE#$F#B!2 ):%>(:()?$$$$$$$$ ):;<?:;=)$$$$$$$$ <:><%:=(%$$$$$$$$ ;:'(=:>=;$$$$$$$$ ?:<<=:%(%$$$$$$$$
C+"+GH./#$G/1.!2$"#5/"!2$8!$
8+,-+./!DE#'(9 %:<'):)%=$$$$$$$$ %:???:%)($$$$$$$$ &:(>(:');$$$$$$$$ &:;'<:=='$$$$$$$$ ':'&':;;;$$$$$$$$
F!6+2!$&?$3$C+"+GH./#$G/1.!2$8!$8+,-+./!DE#$3$*+,-+./!DE#$-+!2$8+$!B/I#1$.#5$8+,-+./!DE#$8+$)9$+$%>9
!"#$%&'(&)*+,$*-&
+./+.,%
!"#$%&)*+,$*-&'(&
$(.)(,.%#!01!
2(*- 345678 365398 :5:78
;%<,=*- 3>5>>8 395338 3?5@48
A*B(-*&C6&D&!01!&D&!"#$%&0E',%&1%='(.*'%&'(&!*+,$*-
!"#"$%&'()$*)$(&+,- ./012
3&+,-$*)$4)(,"*- ./552
2$6"7&8"%$!)(,)&(-+ 15/552
2$6"7&8"%$9(:7(&- ;5/552
<%=>?-8"$@3A6BCC ;0/552
@DE%"FG-$*)$C-DH-$9("I- 0/J52
K)8"$*)+"%"'"D,"*- 5/J5
<%"'"D,"H)4 L/;;
K)8"$"%"'"D,"*- M/L1
!"N)%"$;M$O$6P96$O$9"(Q4)8(-+
!
FK!!
/&%@"(U(B(A'>%<'(jp(
!
(/&%@"(U(B(A'>%<'(jj(
!
(/&%@"(U(B(A'>%<'(jY(
!
(/&%@"(U(B(A'>%<'(j2(
!
(/&%@"(U(B(A'>%<'(jF(
!
(/&%@"(U(B(A'>%<'(ji(
!
!"#"$"%&'"$("$!)*+ ,-./0
!)*+ 1-2.0
!"#"$(3$)4567 28-2/0
!"93:"$,;$<$=>+=$<$?65'"@A6$("$B"#"$(3$
%"C&B":$(3$B35%3&567
!"##"$%&'(#)*)+,"##%)-.%/01&2" 34563))))))))))))))))))))
7(1",)8%)9"##"$%&'(# :436;4:<;))))))))))))
=)'%/%&1")8(#)8%>"&#)9"##"$%&'(# <?@A=
B(C1%D)E$%'F")*)G"1")F"#%D);<@<
H(1"D)9"##"$%&'(#)8")+,"##%)-.%/01&2")9"$">)()8(F'()8")1"'&I")/(C2%C/&(C",
7"F%,")55)*)J%/%&1")*)J%/%&1")8%)9"##"$%&'(#)8")+,"##%)
-.%/01&2"
!"##"$%&'(# )(*(+%,-./(#0
!%1.%2(#
+%,-./(#0
3'"24%#
5*%#06788 9:66;:<;=000000000000 <>:?<?000000000000000000 ><8:;7;0000000000000000 ??:>6?000000000000000000
!'(@('AB(04%0+%,-./(# ;9C6D EC=D
F"G%/"0?E0H0I%-%&*"0H0J%K"24"0F(*"/0H05."*'(0K(4"/&4"4%#
!"##"$%&'(# )(*(+%,-./(#0
!%1.%2(#
+%,-./(#0
3'"24%#
5%$65%7 89:;< 8=:>< 8?:>< 8?:><
5"@6A(B6C%' D>:=< DE:8< DF:8< DF:8<
G(*"H0I%'-%2*."%*%'B&2"4(#0-(B0@"#%0%B04"4(#04(#04&J'&(#04%0*%'B&2"&#K
L"@%/"0D90M0N%-%&*"0M0!'(I('OP(0%2*'%0B(4"/&4"4%#
!"##"$%&'(# )(*(+%,-./(#0
!%1.%2(#
+%,-./(#0
3'"24%#
5%$65%7 89:; <89= 8898 >?9>
5"@6A(B6C%' ;9? <:9<; >D9E ;:9;;
F"@%/"08D0G0H%-%&*"0G0F"'&I"#0J&$%2*%#
!"# $%&%'()*+,%-.
!(/+(0%-
'()*+,%-.
12"03(-'(4*+,%-.$53)%
!2(6%.$53)% 789:....................... ;<8=;.................... 9>87?.................... 7>8@7.................... 9>8=:....................
A"B(,".9>.C.D(*()&".C.A"2)E".F53)".G%03(2"3"
!
F_!!
!!
/&%@"(U(B(A'>%<'(jk(
!
(/&%@"(U(B(A'>%<'(js(
!
(/&%@"(U(B(A'>%<'(Y1(
!
(/&%@"(U(B(A'>%<'(Yl(
!
(/&%@"(U(B(A'>%<'(Yp(
!
!"#"$%&' (")*+",-./*"0 1&2&*%",%")*+3)*"
!"''"#&*)4' 56778698:,,,,,,,,,,,, ;<=8,,,,,,,,,,,,,,,,,,,,,,, 7768==6=>7,,,,,,,,,,
?&@2AB4' 9>565=7,,,,,,,,,,,,,,,, =9<:8,,,,,,,,,,,,,,,,,,,, 7C6978678;,,,,,,,,,,
-4%4 9C6=9=,,,,,,,,,,,,,,,,,, D5<:D,,,,,,,,,,,,,,,,,,,, D67>96=::,,,,,,,,,,,,
EA%)4' =6C7569>9,,,,,,,,,,,,
(4%"B 5;6;856C87,,,,,,,,,,
F,/&,)&2&*%",/4',G&@2AB4',H&'"/4' I"%4),/&,2)&'2*J&$%4,/",/&J"$/"
"$4,D "$4,7 "$4,= "$4,; "$4,5
C<C5F D<>>,,,,,,,,,,,,,,,,,,,,,,, D<>C,,,,,,,,,,,,,,,,,,,,,,, D<D7,,,,,,,,,,,,,,,,,,,,,,, D<D8,,,,,,,,,,,,,,,,,,,,,,, D<7C,,,,,,,,,,,,,,,,,,,,,,,
0,K4$%&JHB","',H4$/&)"LM&',/&,A%*B *N"LM&',&J,/*"',24J,%")*+"',/*+&)&$2*"/"',&,>6=;F,/&,A'A3)*4',OH"PQ,/&,2B"''&,&P&2A%*G"
("R&B",=:,S,1&2&*%",S,(4%"B,H)4T&%"/4,H")","$4,D,24J,%")*+"',,G*#&$%&'
!"#$%&'()*+")% ,(%&- ,(%&. ,(%&/ ,(%&0 ,(%&1
!,222,3#)"%2 04/5&&&&&&&&&&&&&&&&&&&&&&& 04/5&&&&&&&&&&&&&&&&&&&&&&& 04/5&&&&&&&&&&&&&&&&&&&&&&& 04/5&&&&&&&&&&&&&&&&&&&&&&& 04/5&&&&&&&&&&&&&&&&&&&&&&&
6#789:%2 /;4<5&&&&&&&&&&&&&&&&&&&& /;4<5&&&&&&&&&&&&&&&&&&&& /;4<5&&&&&&&&&&&&&&&&&&&& /;4<5&&&&&&&&&&&&&&&&&&&& /;4<5&&&&&&&&&&&&&&&&&&&&
=%*%2 -14<-&&&&&&&&&&&&&&&&&&&& -14<-&&&&&&&&&&&&&&&&&&&& -14<-&&&&&&&&&&&&&&&&&&&& -14<-&&&&&&&&&&&&&&&&&&&& -14<-&&&&&&&&&&&&&&&&&&&&
>,?#:,&/5&@&A#8#)*,&@&>,")B,2&CDE),2&F%(E#",E,2&8%(2)E#",(E%&,&"#G)2H%&*,")B+"),
!"#$% !"#$& !"#$' !"#$( !"#$)
*+, &&-.'/-.'/$$$$$$$$$$ &(-'%'-%)&$$$$$$$$$$ &)-00%-.(%$$$$$$$$$$ &0-'%1-&)1$$$$$$$$$$ &1-.)0-')'$$$$$$$$$$
234567#8 &/-0''-)'9$$$$$$$$$$ &1-''0-)(%$$$$$$$$$$ '9-9'0-0.($$$$$$$$$$ '%-1(9-9/&$$$$$$$$$$ ''-0)9-(/)$$$$$$$$$$
:#;#8 %-&90-)0.$$$$$$$$$$$$ %-&19-9'($$$$$$$$$$$$ %-')/-1'/$$$$$$$$$$$$ %-('1-&(/$$$$$$$$$$$$ %-)&(-)(%$$$$$$$$$$$$
<6;=#8 '-/&/-&1&$$$$$$$$$$$$ '-1('-1).$$$$$$$$$$$$ (-90(-(.9$$$$$$$$$$$$ (-'%1-./9$$$$$$$$$$$$ (-)01-9.0$$$$$$$$$$$$
>353?;!$;!=?@A=?! )(-)9(-'&0$$$$$$$$$$ )0-00(-)1/$$$$$$$$$$ /%-&(%-9/%$$$$$$$$$$ /(-.%)-)&)$$$$$$$$$$ /1-1%9-()0$$$$$$$$$$
B#;!C$8#D$!$E?FG;383$H3$I?JK"5?!$!#$?"45?#$H#$!"#$%
L!D37!$(9$M$>353?;!$M$L!=?@A=?!$;#;!7$F=#N3;!H!$5#O$;!=?@!8$=3I?8!H!8
!"#"$%&'&#"(()*$& +,-..,-/0''''''''''''
!"#"$%&'%1%&2 33,.+4,04.''''''''''
5'6"'*"#"$%&'&#"(()*$& -74/5
819%":';!<'-.+.
=&>"2&'3+'?'!"#"$%&'?'@A2#B21'61'C"*#"9%B&2'6"'*"#"$%&'
&#"(()*$&
!"#$% !"#$& !"#$' !"#$( !"#$)
*+,+-.!$!,+//01-! %2(342%56$$$$$$$$$$$$ %2)5)2')7$$$$$$$$$$$$ %2446235%$$$$$$$$$$$$ %2557274'$$$$$$$$$$$$ %23542&45$$$$$$$$$$$$
8!9+:!$(&$;$*+,+-.!$;$<1#=+>?#$@+$1+,+-.!$!,+//01-!
!
FP!!
/&%@"(U(B(A'>%<'(Yj(
!
(/&%@"(U(B(A'>%<'(YY(
!
(/&%@"(U(B(A'>%<'(Y2(
!
!"#$%&'"(# )*+,-
./0/$#&123$4353"6/$753##82"/ )*99-
./0/$:3$;"#5/<"=/>?& @*99-
A4 )B*9-
./13</$B)$C$4353"6/$C$-$:3$:3:D>E3#$:/$2353"6/$$12D6/
!"#$% !"#$& !"#$' !"#$( !"#$)
*+,$-#.+", /&01('02)'3$$$$$$$$$$ /&0%220&4'3$$$$$$$$$$ /&0&520&(53$$$$$$$$$$ /&0('(01&(3$$$$$$$$$$ /&0)61012)3$$$$$$$$$$
7!8!$9:$;+,<!=+>!?@# /)66011%3$$$$$$$$$$$$$$ /2&'0&6%3$$$$$$$$$$$$$$ /22102463$$$$$$$$$$$$$$ /4110'%53$$$$$$$$$$$$$$ /4(&0''63$$$$$$$$$$$$$$
A:9B?C:,$9!$D:<:+E! /&02'%02))3$$$$$$$$$$ /&04650))(3$$$$$$$$$$ /&05)205&43$$$$$$$$$$ /'0%'(0'('3$$$$$$$$$$ /'0'&&0(1'3$$$$$$$$$$
7!F:=!$(($G$D:<:+E!$G$A:9B?C:,$9:$H:<:+E!
!"#$%&'&(&") "'*%+ "'*%, -./- "'*%0 "'*%12)3&4*%5&"%5*%67"8*%
5"%9$:&#;*
9$($&3"%3"7&<=7&" 10>1?0>@,A%%%%%%%%%%%%%%%%%%% 1A>AA0>1BC%%%%%%%%%%%%%%%%%%% C+>,0+>?C+%%%%%%%%%%%%%%%%%%% C0>D+1>1,1%%%%%%%%%%%%%%%%%%% CB>B+?>01A%%%%%%%%%%%%%%%%%%%
9$($&3"%"($##E7&" +>0BC>+AD%%%%%%%%%%%%%%%%%%%%% +>1A1>@1?%%%%%%%%%%%%%%%%%%%%% +>CCD>BA+%%%%%%%%%%%%%%%%%%%%% +>AA?>?C@%%%%%%%%%%%%%%%%%%%%% +>BAC>,CA%%%%%%%%%%%%%%%%%%%%%
9$($&3"%%F*3")%!7G3" 11>DD?>1?C%%%%%%%%%%%%%%%%%%% 1D>@0D>D@C%%%%%%%%%%%%%%%%%%% C,>D+?>D@,%%%%%%%%%%%%%%%%%%% CC>CB1>1BB%%%%%%%%%%%%%%%%%%% A?>CBC>A,0%%%%%%%%%%%%%%%%%%%
H$5GIJ$#%5"%9$($&3" K,>C@+>C11L%%%%%%%%%%%%%%%%%%% K,>ABD>110L%%%%%%%%%%%%%%%%%%% K,>D1C>D,AL%%%%%%%%%%%%%%%%%%% K@>+@0>@0@L%%%%%%%%%%%%%%%%%%% K@>@,,>0?@L%%%%%%%%%%%%%%%%%%%
9$($&3"%MNOG&5" 1@>@1B>B1+%%%%%%%%%%%%%%%%%%% 1C>1C?>@B,%%%%%%%%%%%%%%%%%%% 1D>D10>??1%%%%%%%%%%%%%%%%%%% C@>11+>,01%%%%%%%%%%%%%%%%%%% CA>@C0>@,?%%%%%%%%%%%%%%%%%%%
-G#3*#%$%5$#6$#"# K@A>C?,>C@CL%%%%%%%%%%%%%%%%% K@B>DAD>0D0L%%%%%%%%%%%%%%%%% K0@>11?>1@0L%%%%%%%%%%%%%%%%% K0C>A?+>C11L%%%%%%%%%%%%%%%%% K0C>?1,>CD,L%%%%%%%%%%%%%%%%%
MPQRHPS +1>A1C>,+1%%%%%%%%%%%%%%%%%%% +A>1B?>BBB%%%%%%%%%%%%%%%%%%% +C>0?@>0A+%%%%%%%%%%%%%%%%%%% +C>B0D>1D+%%%%%%%%%%%%%%%%%%% ,+>@++>C,B%%%%%%%%%%%%%%%%%%%
R9T%-UMM%$%V$'$<N(&*%5"%5$67$(&"I;* K@>C,+>1DAL%%%%%%%%%%%%%%%%%%% K@>DAB>@0BL%%%%%%%%%%%%%%%%%%% K@>+A,>B,,L%%%%%%%%%%%%%%%%%%% K,>BD+>+DBL%%%%%%%%%%%%%%%%%%% K@>D,,>?CCL%%%%%%%%%%%%%%%%%%%
W)GX*%5$%("&X"%*6$7"(&*'") +,>+@0>C+B%%%%%%%%%%%%%%%%%%% +@>C?,>10?%%%%%%%%%%%%%%%%%%% +@>,@?>C0D%%%%%%%%%%%%%%%%%%% +@>D1B>@D@%%%%%%%%%%%%%%%%%%% +A>@BD>1C@%%%%%%%%%%%%%%%%%%%
KYL%-P/Z[ K@>1??>???L%%%%%%%%%%%%%%%%%%% K+?>0??>???L%%%%%%%%%%%%%%%%% K+1>+??>???L%%%%%%%%%%%%%%%%% K+C>1??>???L%%%%%%%%%%%%%%%%% K+B>A??>???L%%%%%%%%%%%%%%%%%
K\L%W)GX*%5$%("&X"%)&:7$ B>C@0>C+B%%%%%%%%%%%%%%%%%%%%% @>,?,>10?%%%%%%%%%%%%%%%%%%%%% K+>BCD>@1+L%%%%%%%%%%%%%%%%%%% K,>10+>C?AL%%%%%%%%%%%%%%%%%%% K+>@+?>0@AL%%%%%%%%%%%%%%%%%%%
W)GX*%5$%("&X"%(*4%V"#$%5$%"3&:*#%
$%"]G#3$KA,>+A1>D1+L%%%%%%%%%%%%%%%%% B>C,,>ABD%%%%%%%%%%%%%%%%%%%%% @>,?,>10?%%%%%%%%%%%%%%%%%%%%% K+>BCD>@1+L%%%%%%%%%%%%%%%%%%% K,>10+>C?AL%%%%%%%%%%%%%%%%%%% K+>@+?>0@AL%%%%%%%%%%%%%%%%%%% D1>,00>A@C%%%%%%%%%%%%%%%%%%%
W)GX*%5$%("&X"%5$#(*'3"5* KA,>+A1>D1+L%%%%%%%%%%%%%%%%% B>@?1>,C,T0C%%%%%%%%%%%%%%% ,>BC+>C+CT0D%%%%%%%%%%%%%%% K+>10D>1DBT?CL%%%%%%%%%%%%% K+>D10>110T1CL%%%%%%%%%%%%% KD@0>D?@TC?L%%%%%%%%%%%%%%%%% C1>00B>+,ATBB%%%%%%%%%%%%%
^")*7%67$#$'3$%)NOG&5* %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%K?T??L
SMG(7*%"'3$#%5$%QG7*#%R46*#3*#%H$67$(&"I;*%$%P4*73&8"I;*
F"V$)"%01%Y%.*5$)*%<&'"'($&7*%Y%W)GX*%5$%-"&X"
!
Kc!!
/&%@"(U(B(A'>%<'(YF(
!
(/&%@"(U(B(A'>%<'(Yi(
!
!"!#$%
!"!#$%
&'()*)+',-.)-
'('/01)234-5)-6'10*34#$
&0('6'.2)-)-*'6-
74,8'.*)54-8'9)-
5'()*)+',-.)-
'('/01)234-5)-6'10*34-:-
;<
:##=>?@
ABC !&'()))))))))))))))))))))))))))))))))
DEBF G"#!%
HIJ*/'-',-?KL!$L?!#? *"##+%
MD;-N-OFBO P"P@%
M)Q'9)-R$-:-F45'94-(0.).7'064-:-;'*J9/)54*-
(0.)0*
;'10*34-5)*-/)60()*-.)-
5)/)-Q)*'-S?KL!?L?!##T
!"#$%"&'()'*$&+,-"'.,##/'0)"+
1)("2$("(, *,34*,5 *"647)-4.,# *,34*,5 *"647)-4.,#
8"&&"3,$#) 9:;< <:= >:?<'''''''''''''''''' <:>@''''''''''''''''''
A,6)BC, 9=:<< ><:= 9>:=?'''''''''''''''' >@:<D''''''''''''''''
EF$6C& ?9<:G< ?;?:9< ?>=:<@'''''''''''''' =D?:?D''''''''''''''
H"-"F+" ?;G:@< =@@:G< =DG:@I'''''''''''''' =;?:ID''''''''''''''
JC+)'3#"F(, >=:> <;:<< >>:<G'''''''''''''''' G=:<;''''''''''''''''
JC+)'K,BC,F) 99:9 >G:@ 9<:DD'''''''''''''''' >;:DI''''''''''''''''
L"-$FMN)'&$-K2,& ?DD:=< ?>?:9 ?D<:9G'''''''''''''' ?>I:<D''''''''''''''
L"-$FMN)'+#CO"() ?9<:G< ?;?:9< ?>=:<@'''''''''''''' =D?:?D''''''''''''''
P+$2$+Q#$)'4'-$O#)RF$6C& GD:G I<:9 G9:G;'''''''''''''''' I;:G<''''''''''''''''
1)+)O$O2,+"'4'2"-6#,+" ?9:I ?;:?< ?>:<D'''''''''''''''' =D:?9''''''''''''''''
0$O$O2,+"'4'O"##)S(,S-N) ?D:<< ?>:<< ??:D;'''''''''''''''' ?<:=;''''''''''''''''
L2"&&,'T5,OC+$U" I:<< ??:<< I:;;'''''''''''''''''' ?=:?>''''''''''''''''
!"6,2"'>@'S'!"#$%"&'S'!"6,2"'(,'+"#$%"&
!"#$%"&'V$3,F+,& !"#$%"&'#,U$&"("&
!
KQ!!
/&%@"(U(B(A'>%<'(Yk(
!
(/&%@"(U(B(A'>%<'(Ys(
!
(/&%@"(U(B(A'>%<'(21(
!
/&%@"(U(B(A'>%<'(2l(
!
!"#$%&'(&)(*+
,$-".' "/$(0 "/$(1 2342 "/$(5
4"%6&#")&/-$ -%.78-$' 9&:&%".'
;<&%=$:$'(<%&->%.-$'?@ABBBABBB 0ABBBABBB 0ABBBABBB 0ABBBABBB 0ABBBABBB
*&6$/'-%8CD$ $8 ./:&/.E"CD$ :" F"#'"
F"%-.%"GABBBABBB GABBBABBB
38#-"' "<#.6":"' <&#" HIJ*FH & -"K"' :&
9.'6"#.E"CD$ %&#"-.!"' " <&%=$:$'
<%&->%.-$'
LA1BBABBB LA1BBABBB
M$#9./ 0ABBBABBB 0ABBBABBB
*&6$)<$'.CD$ :" N"%"/-." :& &K&68CD$
<"%"(O().#PQ&'(;6"'$($7-&/P"(6"%-"(9."/C"(
$8('&N8%$(N"%"/-."(6$)(68'-$(:&(1R?
@LBABBB 0GBABBB 0GBABBB 0GBABBB 0GBABBB
M&<S'.-$()=/.)$(&K.N.:$(<&#$(FTF LA5BBABBB LA5BBABBB
,$-"# 0BAULBABBB GLABGBABBB 0A0GBABBB 0A0GBABBB 0A0GBABBB
,"7&#"(L@(V(T&6&''.:":&(:&(6"<.-"#(V(4&/:W/6."("/-&%.$%&'X(TD$(<$:&)($/&%"%($'(8'8Y%.$'()&:."/-&(-"%.9"
!"#$%&'(&)(*+
,$)-$'./0$ 1$2"# "3$(4 "3$(5 "3$(6 "3$(7
89:(;#<=$(>&(?".="(#.!%& @4A7BCAC7D 5A4E4A76E @BACDFA57B @4A76BADEG @BA5BEA65G
8@:(H<%$'(>"(>I!.>" @4DAG5CA6C5 @GA47GA7CC @DACG7ADBE @DA6F5AD54 @DABBBAD75
8@:(J%.3?.-"#(>"(>I!.>"(KLK @B7AE76AGEC @5AGD5ADGG @5AGD5ADGG @5AGD5ADGG @5AGD5ADGG
8M:(1$2"# @66A5B4AE6C @GACBCAG4D @B4A7ECAD5F @B4AGFCAFBD @BBABC7AGDC
8@:(*&?<%'$'(3&?&''N%.$'O("#P)(>$'('"#>$'(
$-&%"?.$3".'(&(>$('&%!./$(>"(>I!.>"(Q<32$(
"$(KLK
@4EAD6EAEEE @B6AEBEAEEE @4A4BEAEEE @4A4BEAEEE @4A4BEAEEE
8M:(R"#>$(>$(S#<=$(>&(?".="(8"?.$3.'2":( @D6AF74AE6C @4BAC4CAG4D @B6AGBCAD5F @B7AEECAFBD @B5A5F7AGDC
1"T&#"(6F(@(L&?&''.>">&(>&(?"-.2"#(@(,$)-$'./0$(>$(S#<=$(>&(?".="(>$("?.$3.'2"
!"#$%&'(&)(*+
,$)-$'./0$ 1$2".' "3$(4 "3$(5 "3$(6 "3$(7
89:(;#<=$(>&(?".="($-&%"?.$3"# 7@AB@BAB66 B5ACD4A76D B5A45DAC6E B5AE7@A5E5 BFA5@EA7C5
8G:(H<%$'(>"(>I!.>" G4CAF5@A6@5 GFA47FA7@@ GCA@F7ACBD GCA6E5AC54 GCABBBAC75
8G:(J%.3?.-"#(>"(>I!.>"(KLK GB7AD76AFD@ G5AFC5ACFF G5AFC5ACFF G5AFC5ACFF G5AFC5ACFF
8G:(*&?<%'$'(3&?&''M%.$'N("#O)(>$'('"#>$'(
$-&%"?.$3".'(&(>$('&%!./$(>"(>I!.>"(P<32$(
"$(KLK
G4DAC6DADDD GB6ADBDADDD G4A4BDADDD G4A4BDADDD G4A4BDADDD
8G:(,QJRS GCDAFDDADDD GBDA6DDADDD GB7ABDDADDD GBCA7DDADDD GB@AFDDADDD
8T:(;#<=$(>&(?".="(8"?.$3.'2":( GC6AE74AD6@ G4BA@4@AF4C GB6AFB@AC5E GB7ADD@AEBC GB5A5E7AFC@
1"U&#"(7D(G(L&?&''.>">&(>&(?"-.2"#(G(L&?&''.>">&(>&("-$%2&(>&(?"-.2"#(2$2"#
!"#$%&'(&)(*+
,$)-$'./0$ 1$2".' "3$(4 "3$(5 "3$(6 "3$(7
89:(;&<&''.="=&'(=&(<"-.2"#(
.3=&-&3=&32&>?4@655@AB4 >47@C5A@4?7 >A4@D6B@4DE >A4@6?E@5CB >A4@CD7@55C
89:(F#GH$(=&(<".H"($-&%"<.$3"#( 7D@ADA@A66 A5@?C4@76C A5@45C@?6B A5@B7D@5B5 AE@5DB@7?5
8>:(,IJKL >?C@ECC@CCC >AC@6CC@CCC >A7@ACC@CCC >A?@7CC@CCC >AD@ECC@CCC
8M:(F#GH$(=&(<".H"(8"<.$3.'2":( >?6@B74@C6D >4A@D4D@E4? >A6@EAD@?5B >A7@CCD@BA? >A5@5B7@E?D
1"N&#"(7A(>(;&<&''.="=&(=&(<"-.2"#(>(;&<&''.="=&(=&("-$%2&(=&(<"-.2"#(2$2"#
!
KY!!
/&%@"(U(B(A'>%<'(2p(
!
(/&%@"(U(B(A'>%<'(2j(
!
!
!
!
!
!"#$%&'(&)(*+(),#-.&'
/$0"# "1$(2 "1$(3 "1$(4 "1$(5
6&17819,"'("10&%,$%&' 2:;<4 =4;:= 2;2= 2;2= 2;2=
>&%!,?$(7"(7@!,7"(9$)(ABA(%&#"0,!$(C(
D"%9&#"(7$'(,1!&'0,)&10$'(EF11"(B&%G(&(
H!&0&I(1J$(%&9$1-&9,7$'(1"(A**(K(A"'&(
*&)L1&%"?J$(*&ML#"0N%,"
=2;54 3;3= 3;=O 3;:P 2;O<
Q"D,0"#(*&RL&%,7$(K(= 33;=P =S;32 5;4: 5;2O 5;=S
F(K(T#LU$(7&(Q",U"(V,!%& K2;52 3;2: K=;PS K2;54 K=;3=
A(K(>&%!,?$(7"(7@!,7"(9$)(ABA(%&#"0,!$(C(
D"%9&#"(7$'(,1!&'0,)&10$'(EF11"(B&%G(&(
H!&0&I(%&9$1-&9,7$'(1"(A**(K(A"'&(
*&)L1&%"?J$(*&ML#"0N%,"
2O;2< S;S= S;45 S;=P <;O=
EA(K(FI(Q"D,0"#(*&RL&%,7$(2 3=;SS 4;5= O;32 O;S2 P;22
/$0"#(W&%"# <4;O5 2=;P3 =4;S2 =5;:= =3;4:
/"X&#"(52(K(B&9&'',7"7&(7&(9"D,0"#(K(B&9&'',7"7&(7&("D$%0&(7&(9"D,0"#(0$0"#
!"#$%& '# ()*+*&%,-
+%./00 12345 12345 12345
%6./00 12785 12785 02195
+%:/00 127;5 127;5 02815
<*#/00 =120>5 =120>5 02;45
<*&/00 =12045 =12045 02415
%?-/00 12775 12775 023;5
$"@/00 12385 12385 424>5
-*@/00 128;5 128;5 42>05
#-A/00 12815 12815 ;2;05
,"B/00 =12045 =12045 ;20C5
<%#/04 129C5 129C5 ;2C>5
D"A/04 02115 02115 72C95
E%6"&%F8;F=FGHI=!F=F!"#$%&F"F%)*+*&%,-
