0-=,@.
93,7?>A0=E04.394> &4.30=304?> @9/ *,=9349B04>0 -@C 56> :?32F :?H6:D6 KF 9C6C *:496C96:E ,CD2496? 7dC *49X56? 3= 90@0= ,.6:109 65:6?76=5 F?A6C2EFCHX9=6C 2CC2F> /F369aC ):= /08 0=>?09 0-=,@.3 ,9CK6:E 6:?DE6==6? 24<@76? 6C9:EK6? )6:?:8F?8 56D /F369aCD ,.
93,7?>A0=E04.394> )6:?:8F?8D>:EE6= 6=6F49EF?8D 7F? ?@9 *EaCF?8DE236==6 24<@76?=2>A6 2? 56C 64<6 2FDH649D6=? =2D23564? 49B04>0 E@ 90=240049>;,=@92 @9/ (8B07?>.
&4.
49B04>0 E@ 3=0= &4.30=304? :6D6D 6CXE :DE ?FC 7dC 56? AC:G2E6? 2FD92=E 36DE:>>E 6?FEK6? *:6 52D 6CXE 2FDD49=:6U=:49 KF> /F36C6:E6? G@? *A6:D6? CH249D6?6 F?5 ":?56C 5dC76? 52D 6CXE ?:49E F?362F7D:49E:8E 365:6?6? H H6?? D:6 :E 56> 6CXE DA:6=6? =2DD6? 0=K?0?S= %:6 5:6 6CXE6EdC a77?6? HX9C6?5 56D 6EC:63D .
-6C3C6??F?8D86729C %:6 *A6:D6? >:E 8C@U6? $6?86? 2? 9@49AC@K6?E:86? 2=<@9@=:D496? 6ECX?<6? KF36C6:E6? =<@9@=5X>A76 2CC2F> 6?EKd?56? -6CH6?56? *:6 ?FC <=6:?6 $6?86? 9@49AC@K6?E:86C 6ECX?<6 F?5 a77?6? *:6 5:6 6CXE6EdC G@CD:49E:8 04H0> +@-03R= @9/ 0>.34== -6C3C6??F?8D86729C %:6 96:U6D /F369aC @56C 6D49:CC @9?6 +@A7=2AA6? 2FD 56> 2CC2F> ?69>6? (9>,.
*,>>0= 48 304H09 ,.6:109 "6:? .2DD6C :> ??6C6? 56D 96:U6? 24<@76?D G6CD49dEE6? D 6?EDE69E .2DD6C52>A7 .XC>6D49H2? >2:= F?5 2> /F369aC G6CFCD2496? 7S>>420 !,3=@92>84??07 "6:?6 =dDD:8<6:E6? d36C 6:?6? =X?86C6? /6:EC2F> :> ??6C6? 56D 24<@76?D 36: 86D49=@DD6?6C 24<@76?EdC 2F736H29C6? 2D >2:= H:C5 36D49X5:8E =@.
3= 90@0= ,.6:109 :6C =6C?6? *:6 9C6? ?6F6? 24<@76? <6??6? ? 5:6D6> 3D49?:EE 6C<=XC6? H:C 9?6? 52D 65:6?76=5 F?5 5:6 6:?K6=?6? 65:6?6=6>6?E6 36?D@ 7:?56? *:6 9:6C ?7@C>2E:@?6? KF /F369aC F?5 6DE2?5E6:=6? :> ??6C6? 56D 24<@76?D 0/409107/ :6C D696? *:6 6:?6 T36CD:49E d36C 52D 65:6?76=5 D 6CD496:?6? ?:6 2==6 *J>3@=6 8=6:49K6:E:8 :? 56C ?K6:86 !6 ?249 6CXE6EJA D:?5 3H6:49F?86? :? 56? :?K6=96:E6? >a8=:49 F?A6C2EFCHW9=6C &.
@96?4:9>BK370= $:E 56> F?6 56D +:?896:K<`CA6CD :? 56C +b4WT:8 :> 2CC2F> % (36Cd .?E6C9:EK6 bC $F496? F7=WF76 F?5 >286C6 C2E6?DEb4<6 K +:?5 @56C 0:=5 2F7 6:?6C 36?6 :6 !:EK6 <@>>E 8=6:49>WT:8 G@? @36? F?5 F?E6? 7 .
',>?09 @9/ 9E0420 $:E 56? +2DE6? DE6==6? *:6 G6CD49:656?6 /FD2EK7F?
6: -6CH6?5F?8 56D C:==D 36: 2CK6:E6? d36C $:?FE6? +6>A6C2EFCHX9=6C 2F7 ?:65C:86 C:==E6>A6C2EFC 6:?DE6==6? ,==,@8 9C 24<@76? 92E :> 2CC2F> 6:? "d9=863=XD6 F?5 6:?6 #2>A6 S3720-7K>0 2D "d9=863=XD6 D492=E6E D:49 36: 652C7 6:? F?5 2FD :6 H2C>6 #F7E 6?EH6:49E d36C 56C +dC 49EF?8 :6 #d7EF?8DD49=:EK6 ?:49E 23564<6? 6C 24<@76? d36C9:EKE D@?DE 2>:E ?249 56> 6EC:63 56C 2CC2F> D49?6==6C 23>E6 /6:E =2?8 ?249 ,8;0 .
9C 24<@76? G6C7d8E ?FC d36C 6:?:86 56C 7@=86?56? /F369aCE6:=6 /F369aC "F?56?5:6?DE :> 24992?56= @56C :> ?E6C?6E ?249<2F76? 636? *:6 3:EE6 5:6 /f%F>>6C 2? 489 7bC 6D49:CC $F496?7@C>6? C2E6? C:==DEb4<6 F?5 -:67:E 56C $Cb>>F?8 ?249 F?E6? 6:?D49:636? 2&.1 &(0'1*(- +1&( bC $F496? -6:8H2C6? F?5 )=WEK496? 2D 24<3=649 >:E 56C 3D49CW8F?8 KFC 24<@76?EbC :? 56? 24<@76? D49:636? 2&.1 &(0'1*(- 9.*+ "3.
):KK23=649 ! 1 "562= 7bC ):KK2 -:67
,.
04E,=? @9/ '08;0=,?@= 6:DA:6= :? 56? 33:=5F?86? &36Cf ,?E6C9:EK6 36: N $:E 56> F? +6>A6C2EFCHX9=6C 5:6 +6>A6C2EFC @56C C:==DEF76 6:?DE6==6? 6C 24<@76? 368:??E KF 96:K6? ,.6:109 ,@>>.3,7?09 F??077@9209 K9/0=9 *:6 A6C2EFC @56C C:==DEF76 ;656CK6:E >:E 56> ;6H6:=:86? .
&.
+04?1@96?4:909 049>?07709 9C 24<@76? 92E G6CD49:656?6 /6:E7F?3@=6 :6 "=2>>6C? 0 1 K6:86? 9?6? 36: H6=496C /6:E7F?:E +2DE6 @ @56C A X?56C? H6?? 52D /6:EDJ>3@= :? "=2>>6C? DE69E *0.60= 6? .64<6C 2CC2F> 6C .
+04?049>?077@9209 ,-1=,209 .6?? >69C6C6 /6:E7F?3@=6 :? 56C ?K6:86 6C .64<6C =XF7E :> -@C56C8CF?5 2D *J>3@= DE69E :? "=2>>6C? F?5 5:6 .64<6CK6:E =XF7E D:49E32C 23 ,> .64<6C 2F6C ?56K6:E @56C ,9CK6:E 23KF7C286? +2DE6 D@ @7E 5Cd4<6? 3:D 5:6 "=2>>6C? F> 52D ;6H6:=:86 *J>3@= DE696? 6C .6CE 52KF 6CD496:?E 7dC 6:?:86 *6 24<@76? 6:?DE6==6? .
$:E +2DE6 @ @56C A 5:6 2F6C 6:?DE6==6? -@CD49=28DH6CE +2DE6 @ $:?FE6? -@CD49=28DH6CE +2DE6 A $:?FE6? %249 H6?:86? *63@= 0 1 =6F49E6E :6 2?56C6? /6:EDJ>3@=6 6C=aD496? ,@0= 4>? ,-207,@109 :? *:8?2= 6CEa?E 6C 24<@76? 9aCE 2F7 KF 96:K6? ? 56C ?K6:86 DE69E +2DE6 5Cd4<6? $:E +2DE6 @ @56C A 2= 5Cd4<6? F?5 56? F?
,> .64<6C 2F6C ?56K6:E @56C ,9CK6:E 23KF7C286? +2DE6 D@ @7E 5Cd4<6? 3:D 5:6 "=2>>6C? F> 52D ;6H6:=:86 *J>3@= DE696? 6C .
$:E +2DE6 @ @56C A 5:6 ?56K6:E 2F7 DAXE6C G6CD49:636? %249 H6?:86? *6>E 56C 24<@76? 5:6 :?DE6==F?86? F?5 D492=E6E :? .2CE6A@D:E:@? ? 56C ?K6:86 DE69E 5:6 ,9CK6:E KF 56C 52D 6C:49E 76CE:8 :DE F?5 52D *J>3@= DE69E :? "=2>>6C? *J>3@= F?5 6C=aD496? .
+04?049>?077@9209 ,-1=,209 .6?? >69C6C6 /6:E7F?3@=6 :? 56C ?K6:86 2D *J>3@= 56C /6:E7F? -@C56C8CF?5 DE69E :? "=2>>6C? ,> .64<6C 2F6C ?56K6:E @56C ,9CK6:E 23KF7C286? +2DE6 D@ @7E 5Cd4<6? 3:D 5:6 "=2>>6C? F> 52D ;6H6:=:86 *J>3@= DE696? 6C .
49/0=>4.30=@92 2>:E ":?56C 56? 24<@76? ?:49E G6CD696?E=:49 6:?D492=E6? 92E 6C 6:?6 ":?56CD:496CF?8 6C 24<@76? C628:6CE 2F7 <6:?6 :?DE6==F?86? .64<6C F?5 ,9CK6:E A6C2EFC @56C C:==DEF76 6:?86DE6==E D:?5 F?E6C3C:49E 5:6 ":?56CD:496CF?8 5:6 6:KF?8 49/0=>4.30=@92 049>.
D 52C7 <6:?6 2?56C6 /6:E7F?:E +2DE6 2==6 36?6? 5FC498696? F?5 >:E +2DE6 @ @56C A X?56C? /F> *49=FDD +2DE6 42 *6>6? *:6
>2:= H:C5 36: D69C 9@96? +6>A6C2EFC6? 6:?863C2??E 25FC49 2= F?5 92E <6:?6? :?7=FDD 2F7 5:6 F?2:==:6C6? 296C 84??07 2>:E 5:6 F?E6CD49:65=:496? &36C7=X496? ?:49E 5FC49 72=D496 )6:?:8F?8D>:EE6= 36D49X5:8E H6C56? 36249E6? *:6 5:6 ?8236? :? 56C +236==6 %:49E G6CH6?56? H D492C76 @56C D49
*7*.(=2D23564A6 :49EF?8 ':49E 23?69>6? *.3.,:3,82.
'4;;> @9/ 49B04>0 %:6 D496F6C?56 )6:?:8F?8D>:EE6= 36?FEK6? *:6 G6C:2=D >:E 24<@76?C6:?:86C 3692?56=? .6?? G6CD696?E=:49 24<@76?C6:?:86C 2F7 6:?6 5:6D6C *49:49E6? 86=2?8E 6?E76C?6? *:6 :9? D@7@CE >:E 6:?6> *49H2>> F?5 2FDC6:496?5 .2DD6C ,.
)6:?:86? *:6 5:6 6DE6==6 >:E *Ad=>:EE6= F?5 6:?6> *Ad=D49H2>> 6: 92CE?X4<:86? -6CD49>FEKF?86? G6CH6?56? *:6 6:?6 dCDE6 6DE6== KF6CDE :? 5:6 9:?E6C6 F49D6 6:?DE64<6? 0>?0770 0493K9209 6EH2D ?249 9:?E6? 5Cd4<6? :=5 F?5 52?? :? 5:6 G@C56C6 F49D6 6:?9X?86? :=5 :6 6DE6==6 A2DD6? C649ED F?5 =:?FDD :>>6C F?E6? D6:? =477304E6R=;0= 30=@9?0=67,;;09 ,> 5:6 )6:?:8F?8 KF 6C=6:49E6C? <2?? :? >2?496? 24
%249 56> )6:?:86? 56? C:==96:K3K9209 /F> FD32F F?5 )6:?:86? 56C +dC8=XD6C <2?? 5:6 24<@76?EdC 2FD869X?8E H6C56? :6 *492C?:6C6 56C 24<@76?EdC 9236? ;6 6:?6? *A6CC9636= .6?? 56C *A6CC9636= :? 86D49=@DD6?6C '@D:E:@? :DE 33 <2?? 5:6 +dC ?:49E 2FD869X?8E H6C56? .
24<@76?EdC 3:D ?D49=28 D49=:6U6? 33 $:E 36:56? X?56? =:?86<69CE6C )6:96?7@=86 H:656C 6:?9X?86? 6:> :?9X?86? 56C 24<@76?EdC 52C2F7 249E6? 52DD 36:56 *492C?:6C6 86C256 :? 5:6 ;6H6:=:86 R77?F?8 6:?867d9CE H6C56? 33 :6 "6C36 2> *492C?:6C >FDD 2F7 36:56? *6:E6? 6:?C2DE6? 33 .
'S=27K>0= 049 @9/ ,@>-,@09 @>-,@09 -6C=6EKF?8D86729C .
49-,@09 6: 24<@76?EdC6? >:E KH6: =XD6C? *49C:EE6 G@C?69>6? 3:D +dC8=2D D49CX8 ?249 9:?E6? 6:?D49:636? 33 2C2F7 249E6? 52DD D:49 5:6 ?D49C:7E ):89E 23@G6 @36? C649ED 367:?56E &36C6D +dC8=2D D49CX8 ?249 9:?E6? 6:?D49:636? :6 8=2EE6 =X496 >FDD 2FU6? D6:? 3564? B40/0= B099 /40 7K>0= :=/9@92>208KH 04920-,@? >49/ 490 &?R=@92 B,> ?@9 .
9K7:3, K,1.(-* "78&(-* '-.1+* .3<*.8* "? 56C ?K6:86 =6F49E6E F?5 'F==6? ,EC@>2FD72== ,E6==6? ,:6 5:6 .9CK6:E ?6F 6:? 6C 24<@76? 96:KE ?:49E D :DE ,E2F3 2F7 56? $@?E269C>2=D 9:? F?5 96C 0370=807/@9209 .6?? :? 56C ?K6:86 6:?6 69=6C>6=5F?8 >:E 6CD496:?E 5Cd4<6? *:6 5:6 +2DE6 :6 $6=5F?8 G6CD49H:?56E :?6 6:?86DE6==E6 /6:E7F?
=2D23564A6 5FC49 56? 8=6:496? #2>A6?EJA 6CD6EK6? =2D235646? F?5 *:496CF?8 6:?D492=E6? 7,>,-/0.
0=K?0 @9/ ,-=46,?4:9>9@880= .6?? *:6 F?D6C6? "F?56?5:6?DE 2?7@C56C? 8636? *:6 3:EE6 5:6 6CXE6?F>>6C F?5 23C:<2E:@?D?F>>6C 9C6D 6CXE6D 2? 2D +JA6?D49:=5 >:E 56? %F>>6C? 7:?56? *:6 2F7 56C C649E6? *6:E6 56C 24<@76?EdC 2>:E *:6 36: 652C7 ?:49E =2?86 DF496? >dDD6? >6C 56D "F?56?5:6?DE6D 6:?EC286? 'F>>6C 'F>>6C $F?56?5:6?DE % 49B04>0 E@ 90=240049>;,=@92 @9/ (8B07?>.
(8B07?20=0.3? 09?>:=209 ?ED@C86? *:6 5:6 -6CA24H6=E86C649E รณ :6D6D 6CXE :DE 86>XU 56C ):49E=:?:6 d36C =66? 7dC )d46 F?5 -6CH6CEF?8 G@? =E86CXE6? 6FC@A2H6:E 76DE ',-07709 @9/ ):=>.
? 56? +236==6? 7:?56? *:6 5:6 7dC 5:6 /F36C6:EF?8 56C "F496? @56C +6:8H2C6? 36DE6 6:K2CE +6>A6C2EFC F?5 24:E 56> ?:65C:8DE6? .6CE $:E 6:?6C ?:65C:86C6? +6>A6C2EFC 6C9X=E >2? 6:?6 8=6:49>XU:86C6 CXF?F?8 .
749 :3) 7K9(-*3 K-* *.?&79 !*25*7&9 &(0?*.9 .3 :7 @ .3:9*3 !6763C@E 2FD <8 &69= /@C96:K6? >2:= 24<3=649 t d ,2F6CE6:83C@E 2FD c<8 &69= /@C96:K6? >2:= 24<3=649 t d C`E496? K 2FD +@886? >2:= 24<3=649 t d d K-* *.?&79 !*25*7&9 :7 @ &(0?*.9 .3 .
*7 :(-*3 .89 .3 )*7 .99* ,:9 &:+,*,&3,*3 +D119 &'*7 ?: )*3 D3)*73 -.3 &' 6EE6? ,:6 5:6 24<7@C> ?:49E 6:? 06?? 56C $F496? 76CE:8 :DE =`D6? ,:6 :9? >:E !:=76 6:?6D &6DD6CD G@CD:49E:8 2FD 56C 24<7@C> *7 :(-*3 .89 4'*3 ?: 8*-7 ,*'7D:39 ,49:636? ,:6 56? $F496? 2F7 6:?6 E:676C6 ,EF76 HW9=6? ,:6 6:?6 ?:65C:86C6 24A6C2EFC F?5 =2DD6? ,:6 56? $F496? =W?86C 324<6? *7 :(-*3 .
6:U6D =2D86D49:CC DE6==6? *:6 2> 36DE6? 2F7 6:?6> EC@4<6?6? "d496?EF49 23 .6?? 5:6 ,?E6C=286 ?2DD @56C <2=E :DE <2?? 52D =2D DAC:?86? 49B04>0 E@8 =,?09 2D C2E6C863?:D :DE 239X?8:8 G@? CE F?5 (F2=:EXE 56D =6:D496D 636? *:6 KF >286C6> =6:D49 3:D DD=a776= =dDD:8<6:E KF *49>@C3C2E6? 3:D DD=a776= ;6 ?249 CaU6 .6?56? *:6 =6:D49DEd4<6 ?249 56C X=7E6 56C /6:E .
1*.8(- *<.(-9 *8(-.77 K-* *.?&79 +:?56CD49>@C3C2E6? K !@49C:AA6 <8 <8 <8 86D49=@DD6? +:?56C=6?56 <8 <8 <8 @776? <8 +@2DE3667 C@D2 ,E62
6: ?E6 @56C 2?D DE6496? *:6 5:6 2FE F?E6C 56? =d86=? 6:? 52?? <2?? 52D 6EE 23=2F76? .6?56? *:6 82?K6D 67=d86= ?249 KH6: C:EE6= 56C C:==K6:E 67=d86= H:C5 36D@?56CD :E FEE6C *2=KH2DD6C @56C &C2?86?D27E 36DEC6:496? *+1M,*1 *<.(-9 *8(-.77 K-* *.
#=,6?4>.30 %,?>.37K20 1S= /40 +@-0=04?@92 A:9 =,?09 48 ,.6:109 @9/ @9?0= /08 =477 8 ,.'9 .3 )*7 !&'*11* 0*.3*3 .3<*.8 &:+ )&8 *<.(-9 )*8 7&9*38 )*3 .* ?:'*7*.9*3 2K(-9*3 ,E6==6? ,:6 56? ?W49DE?:65C:86? 06CE 6:? F?5 G6C=W?86C? ,:6 5:6 2CK6:E $.* 0&33 .(- 57M+*3 4' )*7 7&9*3 ,&7 .
*7.(-9 *+DA K-* *.?&79 !*25*7&9:7 &7?*.9 .3 F 7.1189:+* .
R==09 %FC 7C:D496D &3DE F?5 6>dD6 :? 2FD86K6:49?6E6> /FDE2?5 G6CH6?56? F?5 8Cd?5=:49 H2D496? FE 23EC@A76? =2DD6? F?5 G@==DEX?5:8 EC@42:= 24<3=649 F?5 )@DE >:E 246? 2 6EH2 d 2 6EH2 Q ,EF?56? 8 :C?6? :? ,Eb4<6? 8 $b496? ?E9X=E 52D &3DE @56C 6>dD6 G:6= *27E @56C .
*7.(-9 K-* *.?&79 !*25*7&9:7 @ &7?*.9 .3 .3:9*3 %686? ,:6 24A6C2EFC 866:8?6E :DE 49B04> 2D =649 <2?? D:49 36:> 24<6? G@? E:67867C@C6?6? *A6:D6? G6C7@C>6? 2D :DE 365:?8E 5FC49 5:6 +6>A6C2EFCF?E6CD49:656 56?6? 52D /F369aC 2FD86D6EKE :DE :6 -6C7@C>F?8 G6CD49H:?56E 36:> 24<6? H:656C 496:.
&: >?07709 &40 /40 @96?4:9 049 2D 7=2496 >2:= 24<3=649 2F7 a96 6:?D49:636? :6 :?H64<8=XD6C D@ 2F7 52D =649 DE6==6? 52DD D:6 D:49 F?E6C6:?2?56C ?:49E 36Cd9C6? :?6? 92=36? #:E6C 96:U6D .2DD6C 6EH2 N 2F7 52D 7=2496 >2:= 24<3=649 8636? :6 24<@76?EdC D49=:6U6? 6? F? +6>A6C2EFCHX9=6C 3:D N 6:?DE6==6? 496:.
*2M8* 2.9 0&19*7 7M-* .3 .3<*(0,1D8*73 2.9 *.3*2 &88:3,8;*72K,*3 ;43 .9*7 '*. 1&8*3'.1):3, N @ &(--.9?* d 6EH2 &:?FE6? +@E6 66E6 6EH2 &:?FE6? 6EH2 &:?FE6? +@D6?<@9= 6EH2 &:?FE6? 6EH2 &:?FE6? @9?6? $@9=C23: +@E<@9= 6EH2 &:?FE6? 6EH2 &:?FE6? 6EH2 &:?FE6? 6EH2 &:?FE6? FC<6? Cb?6 C3D6? 40 49B0.627K>0= ,@> /08 ,.
*7.(-9 %:'*-K7 :3) .3<*.8* K-* *.?&79 !*25*7& &(0?*.9 .3 9:7 @ .3:9*3 !6763=6492:= 24<3=649 =F>:?:F>3=649 >2:= 24<3=649 7=249 =F>:?:F>3=649 .?:G6CD2=A72??6 % 2 d d d d 2 d +@DE6 =649DAC:?87@C>6? S 4> 2 d d >2:= 24<3=649 =649DAC:?87@C>6? S 4> % d d 6564 24<6? 2F7 KH6: 36?6? 52D =F>:?:F>3=649 :>>6C 2F7 5:6 F?E6C6 ,EF76 6:?D49:636? F?5 5:6 .
93:@/>:;2,A0 '4;> 09 B,,=>.
93:@/>:;2,A0 )6:?:8:?8D>:556=6? #:49E7F?4E:6 )@@DE6CD 27?6>6? 6? @A92?86? 6 8C:==H66CDE2?5 56>@?E6C6? 6 @G6?56FC 27?6>6? 6? @A92?86? $@?E6C6? 6? 56>@?E6C6? G2? 56 @G6?CF:E6? *,? ?0 /:09 -45 >?:=49209 *E@C:?8DE236= -6CG2?86? G2? 96E =2>A;6 F:E 56 3@G6?A=22E G2? 56 @G6? 6D496C>8=2D '0.394>.
'4;> 09 B,,=>.3@B49209 :8?=09? /0 A04742304/ #66D 56 :?DECF4E:6D :? 56K6 92?5=6:5:?8 22?5249E:8 5@@C 6H22C 56 863CF:@?E286 :?DECF4E:6D ?5:6? F 96E 2AA2C22E 22? 66? 2?56C @G6C5C228E 8667 6C 52? @@< 56 3:;369@C6?56 92?5=6:5:?8 3:; 6K6 863CF:3:?2E:6@G6?D #66D G@@C 4@>3:?2E:6@G6?D 56 3:; 56 <@@ 56 H6C<:?8 G2? 56
9>?=@.
-6C3C2?5:?8D86G22C %@@:E 86C649E6? <=22C>2<6? 5:6 66? 9@@8 A6C46?E286 2=4@9@= 36G2EE6? =4@9@=52>A6? E6 G=2> G2EE6? 63CF:< 2==66? <=6:?6 9@6G66=9656? 5C2?< >6E 66? 9@@8 2=4@9@=A6C46?E286 6? @A6? 56 56FC G2? 96E 2AA2C22E G@@CK:49E:8 0?0 ?:0-03:=09 09 A:=809 -6C3C2?5:?8D86G22C %@@:E 96E6 E@6369@C6? @7 G@C>6? K@?56C A2??6?=2AA6? F:E 56 @G6?CF:>E6 ?6>6? "9/0>6@9/420 =0;,=,?40> "2?D @A 66? 6=6@86? F:ED=F:E6?5 H@C56? F
*,?0= 49 /0 30?0 :A09 :6E 866? H2E6C :? 56 @G6? 2=D 56K6 H2C> :D C @?EDE22E H2E6C52>A 6 E6>A6C2EFFCD49@>>6=:?8 <2? D49256 22? 96E 6>2:= 6? 22? 56 2446DD@:C6D G6C@@CK2<6? )7:04-,,= A:0/>07 6H22C G=@6:322C G@65D6= ?:6E =2?86 E:;5 :? 56 @G6? >6E 56 56FC 86D=@E6? 6E 6>2:= C22
(B 940@B0 :A09 .
@9.?4060@E069:; $6E 56 7F?4E:6<6FK6:?8D>6E9@56 :? 9&3) *'7:.
':0?>09 09 49/4.,?40 $6E 56 E@6ED6? DE6=E F 56 G6CD49:==6?56 6IEC2 7F?4E:6D :? &A 96E 5:DA=2J
*E6= 56 E6>A6C2EFFC6E 3266C 52? >:?FE6? 27 @A =2?8K22> 8C:==6? 49909=@48?0 ? 56 3:??6?CF:>E6 36G:?5E K:49 56 @G6?=2>A 6? <@6=G6?E:=2E@C 36D496C>E 56 @G6? E686? @G6CG6C9:EE:?8 "A097,8; +:;56?D 96E 863CF:< 3C2?5E 56 @G6?=2>A :? 56 3:??6?CF:>E6 $6E 56 DE2?5 \ G2? 56 7F?4E:6<6FK6A K@?56C G6CH2C>:?8 :?D492<6=6? :07A09?47,?:= 6 <@6=G6?E:=2E@C H@C5E K@?@5:8 :?f 6? F:E86D492<6=5 6 H2C>6 =F49E @?ED?2AE G:2 56 56FC #6E @A 6 G6?E:=2E:6
,H @G6? 36D49:>:86 G2? 56 G@=86?56 2446DD@:C6D +@6369@C6? >6C @A 4489*7 /@@C D492=6? 326? 863C225 DEF<<6? G@@C C@@DE6CD 6? 5:6AGC:6D86C649E6? )=22ED 96E C@@DE6C >6E 56 >:?8 ?22C 36?656? #1&00* ,*H2&.11**7)* '&051&&9 /@@C E22CE6? 8632<;6D 6? <@6<;6D @6 56 326E 96E 86566=E6 >6E ?:G62FG6CD49:= :? 56 C:49E:?8 G2? 56 @G6?56FC .*5* ,*H2&.
2 56 8686G6?D :? 56 E236==6? :? 249E &6E2=6? 3C225A2? ! 1 6 3C225A2? <2? H@C56? 863CF::6< <@@656 G@@C 96E 2FE@>2E:D49 3C256? 6 3C225A2? :D G2? 3F:E6? 86\>2:==66C5 6? G2? 3:??6? 36<=665 >6E 66? 2?E:22?32<=
0 :A09 A0=B,=809 -6CH2C> 56 @G6? =668 6? 86D=@E6? @> 56 ?:6FH6 86FC H68 E6 ?6>6? 6 >66DE 5@6=EC6776?56 >2?:6C :D @> 56 @G6? 66? FFC =2?8 E6 G6C9:EE6? @A 66? E6>A6C2EFFC % 9@86C 6? =286C 52? N /@C8 6CG@@C 52E 6C K:49 866? C6DE6? G2? G6CA2<<:?8D>2E6C:22= 3:??6? :? 56 @G6? 36G:?56? ":6D 66? 9@86C6 6? =286C6 E6>A6C2EFFC % >6E 56 7F?4E:6A6C2EFFC
&::=? A0=B,=8492 09 ?08;0=,?@@= -@@C366=5 G2? 56 27366=5:?8 H2C>E6 9@86C 6? =286C 52? N ":6D 96E D@@CE G6CH2C>:?8 >6E 56 7F?4E:66E 56 E6>A6C2EFFCA6C2EFFC @7 96E 8C:==?:G62F 6 @G6? 368:?E E6 G6CH2C>6? 0 :A09 @4?E0??09 /6E 56 7F?4E:6?07749209 B45E4209 6E D@@CE G6CH2C>:?8 6? 56 E6>A6C2EFFC @7 96E 8C:==?:G62F @>6?E H@C56? 86H:;K:85 >6E 56 @G6C66?<@>DE:86
&907A::=T A0=B,=8492 $6E 56 D?6=G@@CG6CH2C>:?8 36C6:A6C2EFFC 3:;K@?56C D?6= 63CF:< 56 D?6=G@@CG6CH2C>:?8 3:; :?86DE6=56 E6>A6C2EFC6? 3@G6? 56 N 6D49::?8D>6E9@56? H 6E6=F49E 2 H @G6?f @?56CH2C>E6 % H &?56CH2C>E6 $ &> 66? 86=:;<>2E:8 C6DF=E22E E6 6? 36]:?5:85 :D -6CH2C>:?8D>6E9@56 6? E6>A6C2EFFC :?DE6==6? 6 E@6ED :?5CF<<6? &A 96E 5:DA=2J :D 96E DJ>3@@= G6C=:49E 6 @G6? 368:?E @
*0660= , E6 6 H6<<6C 9667E 66? 6:86? D:8?22= /@ 9@@CE F @7 56 H6<<6C @7 66? E:;5D5FFC 2786=@A6? :D 6 E@6ED 66? <66C :?5CF<<6? &A 96E 5:DA=2J K:;? 56 E:;5DJ>3@=6? G6C=:49E 56 DE22E EFDD6? 922<;6D $6E 56 E@6ED @ @7 A 56 H6<<6CE:;5 :?DE6==6? -@@C86DE6=56 H22C56 E@6ED @ >:?FE6? -@@C86DE6=56 H22C56 E@6ED A >:?FE6? %2 6?:86 D64@?56? H@C5E 56 :?86DE6=56 E:;5 @G6C86?@>6? 6 H6<<6C DE2CE &A 96E 5:DA=2J :D 96E DJ>3@
'45/>/@@= ,
0 ?45/>/@@= 4> ,1207:;09 C <=:?E ?:6E >66C @A &A 96E 5:DA=2J DE22E 6 E@6ED :?5CF<<6? $6E 56 E@6ED @ @7 A /@@= A0=,9/0=09 $6E 56 E@6ED @ @7 A 56 E:;5D5FFC G6C2?56C6? %2 6?<6=6 D64@?56? H@C5E 56 G6C2?56C:?8 @G6C86?@>6? .
-@@C366=5 :? 56 27366=5:?8 6E :D FFC 56 E:;5D5FFC :D >:?FE6? 6? 56 @G6? >@6E @> <=22C K:;? F?4E:6<6FK6A6C2EFFC<6FK622= :?5CF<<6? $6E 56 E@6ED @ @7 A 56 E:;5D5FFC :?DE6==6? 6 E@6ED :?5CF<<6? 6 DE22E EFDD6? 922<;6D 6E E:;5DE:A H22C@A 96E 86C649E <=22C :D G6CD49:;?E $6E 56 E@6ED @ @7 A 56 6:?5E:;5 @A 66? =2E6C E:;5DE:A K6EE6? %2 6?<6=6 D64@?56? ?66>E 56 @G6? 56 :?DE6==:?86? @G6C 6? D492<6=E :? 56 H249EDE2?5 &A 96E 5:DA=2J G6
0 ?45/>/@@= 4> ,1207:;09 C <=:?E ?:6E >66C @A &A 96E 5:DA=2J DE22E 6 E@6ED :?5CF<<6? $6E 56 E@6ED @ @7 A 6? .
'45/ B45E4209 C >28 866? 2?56C6 E:;57F?4E:6 :?86DE6=5 K:;? 6 E@6ED G:6C <66C :?5CF<<6? &A 96E 5:DA=2J K:;? 56 E:;5DJ>3@=6? G6C=:49E 56 DE22E EFDD6? 922<;6D $6E 56 E@6ED @ @7 A 56 E:;5 G6C2?56C6? %2 6?:86 D64@?56? H@C5E 56 :?86DE6=56 E:;5 @G6C86?@>6? '45/>B00=2,A0 @4? , 66C H66C E6 86G6? #66D 9:6C@G6C 96E 9@@75DEF< ?2 49/0=>7:? &> E6 G@@C<@>6? 52E <:?56C6? A6C @?86=F< 56 @G6? :?D492<6=6? :D 56K6 G@@CK:6? G2? 66? <:?56CD=@E 6 @G6?
*45E4209 A,9 /0 >?,9/,,=/49>?07749209 6K6 @G6? 9667E G6CD49:==6?56 DE2?522C5:?DE6==:?86? 6K6 :?DE6==:?86?
! =D 96E 2AA2C22E H@C5E 2786D=@E6? G2? 96E =:49E?6E @7 2=D 56 DEC@@> F:EG2=E 3=:;G6? 56 86>22@6E H@C56? @?56C9@F56? 6? 86C6:?:85 '4;> 09 B,,=>.
.2D ?:6FH6 5@6<;6D 8@65 F:E 2=G@C6?D K6 E6 863CF:<6? %43* *.3.,.3,82.
! ! ! ! ! ! !
4.3?1@9.
6 C@@DE6CD >:?8 >@6E ?22C @?56C6? H:;K6? 0 2=477B00=>?,9/ /08:9?0=09 &> 96E C6:?:86? E6 G6C66?G@F5:86? <2? 56 8C:==H66CDE2?5 :? D@>>:86 @G6?D H@C56? :?86<=2AE 6G22C G@@C 3C2?5H@?56? 6 @G6? >@6E <@F5 K:;? +C6< 96E :?<=2A32C6 92?5G2E G2? 56 8C:== ?22C G@C6? 6? 5FH 96E @>9@@8 E@E52E F 9@@CE 52E 96E :?A2DE 27366=5:?8 '2< E686=:;<6CE:;5 56 8C:==H66CDE2?56? G2DE 6? G@FH K6 ?22C 36?656? 27366=5:?8 -@FH 56 8C:==H66CDE2?56
0 :A09/0@= ,190809 09 :;3,9209 &> 56 56FC 86>2<<6=:;<6C E6 56>@?E6C6? 6? 96E 8=2D D49@@? E6 >2<6? <2? 56 @G6?56FC H@C56? 2786?@>6? 6 D492C?:6C6? G2? 56 @G6?56FC K:;? F:E86CFDE >6E 66? 3=@<<66C96?56= =D 56 3=@<<66C96?56= 86D=@E6? :D 27366=5:?8 <2? 56 56FC ?:6E H@C56? 2786?@>6? =D 56 3=@<<66C96?56= 86@A6?5 H@C5E @> 56 56FC 27 E6 ?6>6? 27366=5:?8 52? 3=@<<6C6? 56 D492C?:6C6? &A 5:6 >2?:6C
0 /0@= :;3,9209 2?8 56 56FC H66C @A 5@@C 56K6=756 DE2AA6? :? @>86<66C56 G@=8@C56 @A E6 G@=86? #6E 6C 3:; 96E H66C @A92?86? G2? 56 56FC @A 52E 36:56 D492C?:6C6? AC64:6D :? 9F? C6DA64E:6G6=:;<6 @A6?:?86? A2DD6? 7366=5:?8 6 @?56CDE6 8=6F7 G2? 56 D492C?:6C6? >@6E6? :? 36:56 <2?E6? :?A2DD6? 7366=5:?8 =D 56 D492C?:6C6? ?:6E @A 56 ;F:DE6 H:;K6 H@C56? 86>@?E66C5 <2? 96E K:;? 52E 56 56FC 6C ?:6E C649E :? <@>E *=F:E 56 3=@<<66C96?56=D @A?:6FH 7366=5:?8 *=F:E 56 @G6?56FC
:9?0=09 09 /08:9?0=09 A,9 /0 :A09=@4?09 08:9?0=09 6 @G6?CF:E6? @?E66C5 K@52E K6 36E6C 22 56 @G6?56FC 27 6? =68 96> @A 66? 5@6< >6E 56 92?58C66A ?22C 36?656? *49C@67 56 2756<<:?8 22? 56 3@G6?<2?E G2? 56 @G6?56FC =@D C22: 522CG@@C 56 D49C@6G6? 22? 56 C649E6C 6? =:?<6C<2?E =@D 7366=5:?8 +:= 56 3@G6?DE6 @G6?CF:E @A 6? ?66> 96> F:E 7366=5:?8 -@=8 3:; 56FC6? >6E 5C:6 CF:E6? 3@G6?5:6? 56 G@=86?56 DE2A @A %66> 56 @G6?CF:E F:E 7366=
:9?0=09 -@=8 G@@C 56FC6? >6E EH66 @G6?CF:E6? 56 DE2AA6? E > @A @6 96E 8=2D 6C ?22C 249E6C6? :? 6? 9@F5E 96E 522C3:; D49F:? 7366=5:?8 /@C8 6CG@@C 52E 96E @AD49C:7E ):89E 23@G6 K:49 C649ED3@G6? 36G:?5E @6 96E 3@G6?DE6 8=2D 6C ?22C 249E6C6? :? 6? 9@F5E 96E 522C3:; D49F:? $6E 56 8=2556 @AA6CG=2 22? 2?8 56 @G6?56FC @A 0-=@46 /0 :A09 ;,> B00= ,7> /0 :A09=@4?09 :; /0 5@4>?0 8,940= 208:9?00=/ E459
*,? ?0 /:09 -45 >?:=49209 *E@C:?86? H@C56? G22< G6C@@CK22 56 DE@C:?8 K6=7 @A E6 =@DD6? >6E 369F=A G2? 56 E236= &?:=492>?,-07 947.3, 4,*1./0* 447?&&0 51488.3, &&3<./?.
)0=A,9209 A,9 30? 7,8;50 @4? /0 -:A09;7,,? A,9 /0 :A09 "2?D @A 66? 6=6@86? F:ED=F:E6?5 H@C56? F:E86G@6C5 5@@C E649?:4: 5:6 K:;? 86_?DECF66C5 5@@C 56 <=2?E6?D6CG:46 =D 96E @G6?=2>A;6 36D4925:85 :D >@6E 96E H@C56? G6CG2?86? , A;6D G6CA;6D 6G22C G@@C 6=6
'0.394>.30 /409>? &?K6 E649?:D496 5:6?DE DE22E E6C 36D49:<<:?8 G2? 56 863CF:<6C G@@C 96E F:EG@6C6? G2? C6A2C2E:6D 22? 96E 2AA2C22E 56 22?D4927 G2? 2446DD@:C6D @7 @?56C56=6? 6? G@@C 2==6 GC286? >6E 36EC6<<:?8 E@E @?K6 AC@5F4E6? @7 5:6?DE6? 6 8686G6?D G2? @?K6 E649?:D496 5:6?DE 6?E2E:6 #=:/@.
&A6? 56 @G6?56FC K@ H6:?:8 >@86=:;< E:;56?D 96E <@<6? 32<<6? @7 3C256? :; 96E 36C6:56? G2? G6CD49:==6?56 E22CE6? :D 96E 36E6C @> K6 >6E66? ?2 6=<22C E6 32<<6? 6 @G6? :D 52? ?@8 H2C> &A 5:6 >2?:6C H@C5E 56 36C6:5:?8DE:;5 G2? 56 EH6656 E22CE G6C<@CE &@< 6? E686=:;< H@C56? 863CF::?FE6? G@@C 96E G6CDEC:;<6? G2? 56 32E6 <2? 52? 863CF: 96E 86C649E 822C E6 >2<6? )0=B45/0=492 A,9 ,1A,7>?:11
',,=?09 09 -,960? ,6A:=809 6 >66DE 86D49:6? K:;? 5:6 G2? 5@?<6C >6E22= '=22ED 56 32 2=E:;5 @A 96E C@@DE6C 6 G@=86?56 <@@5 H@C56? 56 22?8686G6? 326E E@E >:?FE6? G6C<@CE ',-07709 ? 56 E236==6? <2? >6? 96E D@@CE G6CH2C>:?8 C225A=686? 5:6 96E >66DE 86D49:A6C2EFFC 6? 56 32
!&&79*3 42 9* '*7*.)*3 .3 )* '&0;472 &0;472 45 -*9 74489*7 44,N 9* 4479 ;*7<&7N 2.3, !*25*7&N *7*.).3,8 9./) 9::7 @ 2.
744) *3 '744)/*8 44, 9* 4479 ;*7<&7N 2.3, !*25*7&N &09./) 9::7 @ 2.3:9*3 :DE3C@@5 >6E <8 >66= G@@CG6CH2C>6? 6\>2:==66C56 323C@@5 >6E c<8 >66= G@@CG6CH2C>6? 6\>2:==66C56 322:==66C56 32
* 9&&79 .8 .3,*?&09 63CF:< 56 G@=86?56 <66C >:?56C G=@6:DE@7 @7 <:6D 66? 32A6C2EFFC G2? 8C256? =286C !@F5 F 22? 56 :? 96E C646AE 22?8686G6? E:;5 G@@C 96E <=@AA6? G2? 5668 * 9&&79 .8 .3 -*9 2.))*3 ,4*) ,*7*?*3 2&&7 &&3 )* ?./0&39*3 2.3)*7 -44, /6E 56 32 ?:6E :? !22= 56 E22CE 2=D 9:; 822C :D G@@CK:49E:8 F:E 56 32 >6E 369F=A G2? 66? >6D * 9&&79 .8 9* '7:.3 &&3 )* '4;*30&39 16E 56 E22CE 5:6A6C :? 56 @G6? <:6D 66? =286C6 32A6C2EFFC 6? =22E 96> =2?86C 32<<6? * 9&&79 .
)700> 20A:207?0 A4> &0=A40> , :556? @A 96E C@@DE6C 66E D6CG:6D8@65 G2? 8=2D 286C G=66D 6? E@E 66E=6A6=D 3:; DE@@7G=66D 2792?<6=:;< G2? 56 8C@@EE6 *EF<<6? G=66D 5:6?6? 92=G6CH686 56 36
)700> 6 E236= 86=5E G@@C 86C649E6? 5:6 :? 56 <@F56 @G6? H@C56? 86A=22EDE 6 E:;56? :? 56 E236==6? K:;? C:49EH22C56? /6 K:;? 2792?<6=:;< G2? 56
0A:207?0 6 E236= 86=5E G@@C AC@5F4E6? 5:6 :? 56 @?G6CH2C>56 @G6? H@C56? 86A=22EDE 6 86H:49ED8686G6?D :? 56 E236= 96336? 36EC6<<:?8 @A @?86GF=5 86G@86=E6 52E <=22C :D @> 863C256? E6 H@C56? =D F 5:C64E @A 96E C@@DE6C 8C:=E D49F:7 52? 56 3C225D=656 @A 9@@8E6 :? 56 @G6? *E66< 3:; 66?5 @7 82?D 96E G6= @?56C 56 G=6F86=D G2DE 52? <2? 96E G6E H68=@A6? C@E6 DEF<<6? 86G@86=E6 5:6?E F ?2 EH66 56C56 G2? 56 8C:==E:;5 E6 <6C6? 6G@86=E6 H@C5E 3:;K@?56C
)4> 6 E236= 86=5E G@@C AC@5F4E6? 5:6 :? 56 @?G6CH2C>56 @G6? H@C56? 86A=22EDE #.8 *<.(-9 68C:=56 G:D /:D :? A=2<<6? 3:;G <@E6=6EE6? U 8 <8 <8 8 A6C DEF< 440N *3 44,9* #*7<&7N '&0,*7*. 2.3,8N 2*9-4)* !*25*7&9::7 @ ,7.11 !./)8)::7 2.3:9*3 +@@DE6C x 7 7 d d d d d +@@DE6C x ,E2?5 d C225D=656 @A 9@@8E6 :? 56 @G6? D49F:G6? #=,6?4>.30 ?4;> A::= 20B::9 -=,/09 09 -=,/09 :; /0 2=477 7 ?./3 ,**3 7*+*7*39.*8 .3 -*9 47.H39&9.
02=,?4900=/0 20=0.3?09 >:@117N> ?:,>? *7*(-9 6E G@=86?56 <@@2 :D F:ED=F:E6?5 36C6<6?5 G@@C 56 A=22ED:?8 G2? G@65D6= :? 66? <@F56 @G6? (-&&1 44,N9 4479 !*25*7&N * ;*7<&7N 9::7 F 2.3, 3.;*&: ;&3 )* ,7.11 !./)8)::7 .3 2.
*7*(-9 ((*884.N 7*8 44, 4479 9* ;*7<&7N 2.3, !*25*7&9::7 @ .*5;7.
0A=:=09 A::=206::6?0 ;=:/@.?09 -@=8 56 22?H:;K:?86? G2? 56 723C:<2?E @A 56 G6CA2<<:?8 G2? 96E AC@5F4E @A 6E G@=86?56 <@@2 :D F:ED=F:E6?5 36C6<6?5 G@@C 56 A=22ED:?8 G2? G@65D6= :? 66? <@F56 @G6? *7*(-9 44,N 4479 9* ;*7<&7 N2.3, !*25*7&9::7 @ !./)8)::7 .3 2.
/6E ?@@:E >66C 52? K6D A@EE6? E686=:;< :? 56 @G6? 6 22?865F:56 E:;56? K:;? D=649ED E6C @C:]?E2E:6 6 @>86G:?8DE6>A6C2EFFC 96E 22?E2= A@EE6? 6? 56 E6>A6C2EFFC G2? 56 :?9@F5 G2? 56 A@E 2:==66C56 G=2<<6 32
74*39*3 2*9 04:)* '4:.1143 .3 5499*3 2*9 **3 .3-4:) ;&3 **3 1.9*7 ;&3&+ -*9 ;*78(-./3*3 ;&3 '*11*9/*8 @ &).*3 ;*7<&72*3 F8FC<6? d 42 >:?FE6? +@56 3:6E6? 42 >:?FE6? 42 >:?FE6? ,ACF:E;6D 42 >:?FE6? 42 >:?FE6? @?6? <@@=C23: C@56<@@= 42 >:?FE6? 42 >:?FE6? CHE6? 42 >:?FE6? 42 >:?FE6? ,,7 /0 ;:??09 @4? /0 :A09 /6E 56 A@EE6? 2=D F K6 F:E 56 @G6? 922=E ?:6E @A 66? <@F56 @7 G@49E:86 @?56C8C@?5 56 A@EE6?
*7*(-9 ((*884.7*8 *3 9.58 *3 <&&78(-:<.3,*3 44,9* 4479 ;*7<&7 2.3, !*25*7& &09./) .3 9::7 @ 2.
',-70 /0 8,?4M=0> :9>4290> /0 >N.
',-70 /0 8,?4M=0> 'C@5F:ED 56 ?6EE@J286 @?4E:@? =F>:ZC6 [4C@496C 6E 244C@496C =6D DFAA@CED [>@?E286 56 =2 C[D:DE2?46 8C:= [>@?E6C 6E C6>@?E6C =2 A@CE6 5F 7@FC [>@?E6C 6E C6>@?E6C =6D A=2BF6D 6? G6CC6 56 =2 A@CE6 9.4/09?> 0? /N;,99,20 +23=62F 56 5[C2?86>6?ED 92?86C = 2>A@F=6 56 =2 A=2BF6 DFA[C:6FC6 5F 7@FC -:EC6 AC@E64EC:46 &0=A4.0 ?0.394<@0 :9>047> ;:@= N.
:9>4290> /0 >N.
9/4.,?4:9> ;:@= A:?=0 >N.
):DBF6 56 3Cc=FC6D %6 ;2>2:D AC[A2C6C 56D >6ED 2G64 56 8C2?56D BF2?E:E[D 56 3@:DD@?D 7@CE6>6?E 2=4@@=:D[6D #6D G2A6FCD 5 2=4@@= A6FG6?E D 6?7=2>>6C 52?D =6 4@>A2CE:>6?E 56 4F:DD@? ,E:=:D6K F?:BF6>6?E 56D A6E:E6D BF2?E:E[D 56 3@:DD@?D 7@CE6>6?E 2=4@@=:D[6D 6E @FGC6K ACF56>>6?E =2 A@CE6 56 = 2AA2C6:= ..0>>:4=0> 0? =N.4;409?> .
,@ /,9> 70 1:@= .
):?=0 9:@A0,@ 1:@= -@:4: G@EC6 ?@FG62F 7@FC 6 492A:EC6 5[4C:E =6D 7@?4E:@?D 5F 32?562F 56 4@>>2?56 2:?D: BF6 D6D 5:77[C6?ED [=[>6?ED -@FD J EC@FG6C6K [82=6>6?E 56D :?7@C>2E:@?D 4@?46C?2?E =6D 2446DD@:C6D 6E =6D 4@>A@D2?ED :?E[C:6FCD 5F 7@FC ,9/0,@ /0 .:88,9/0 ,Z=64E6FC 56 7@?4E:@?D :f2ACZD = 2A6CYF 5F 32?562F 56 4@>>2?56 #6D DJ>3@=6D ? 2AA2C2:DD6?E ;2>2:D E@FD 6? >\>6 E6>AD V = 277:49286 6D G2C:2E:@?D 56 5[E2:=D D@?E A@DD:3=6D D6=@? =6 >@5Z=6 5 2AA2C6:= -@F496D 6E 277:49286 -96C>@DE2E :@?:9> /0 .
&N70.?0@= /0> 1:9.?4:9> 48.9.43 )@D:E:@? KZC@ #6 D[=64E6FC 56D 7@?4E:@?D A6C>6E 56 C[8=6C =6 >@56 56 4F:DD@? "9.1.8&9.
':@.30> 0? ,114.3,20 #6D E@F496D A6C>6EE6?E 56 C[8=6C 5:77[C6?E6D 7@?4E:@?D DFAA=[>6?E2:C6D = 277:49286 G@FD A@FG6K =:C6 =6D G2=6FCD C[8=[6D !4:(-* "9.1.8&9.
#@CDBF6 =6 7@FC 492F776 =6 DJ>3@=6 6DE 2==F>[ V = 277:49286 = D [E6:?E A6?52?E =6D 4@FAFC6D 56 492F776 #6 DJ>3@=6 ? 6DE A2D 2==F>[ 6? >@56 [4@?8[=2E:@? B :8;,=?4809? /0 .
*: =6D 2446DD@:C6D 492F776?E :=D A6FG6?E D6 5[7@C>6C ,?6 7@:D C67C@:5:D :=D C6AC6?5C@?E =6FC 7@C>6 @C:8:?2=6 6E =6FC 7@?4E:@? ? 6? D6C2 A2D 2=E[C[6 -@EC6 7@FC 6DE 7@FC?: 2G64 BF6=BF6D F?D 56D 2446DD@:C6D DF:G2?ED -@FD A@FG6K 2496E6C 56D 2446DD@:C6D 2FACZD 5F D6CG:46 2ACZDfG6?E6 52?D =6 4@>>6C46 DA[4:2=:D[ @F DFC ?E6C?6E -6F:==6K :?5:BF6C =6 ?F>[C@ / 7.11* )@FC CZ4:A:6?ED >@F=6D C_E:D A:Y46D U 8C:==6C 6E A=2ED DFC86=ZD "?EC@5F:D6K =2 8C:==6 6? @C:6?E2?E =2 4@FC3FC6 G6CD =6 32D !J1* )* (:.8843 F2&.
C:==6 ! 1 )@FC CZ4:A:6?ED 56 4F:D:?6 >@F=6D C_E:D A:Y46D U 8C:==6C 6E A=2ED DFC86=ZD -23=6EE6 6? G6CC6 ! 1 -23=6EE6 6? G6CC6 AC@7@?56 @?G:6?E A2C72:E6>6?E A@FC =6D A=2ED U D6CG:C 5:C64E6>6?E DFC =2 E23=6 -_=6 U A:KK2 ! 1 "5Z2=6 A@FC =6D A:KK2D AC@5F:ED DFC86=ZD 6E 8VE62FI C@?5D @F 8C2?5D /@FD A@FG6K FE:=:D6C =2 E_=6 U A:KK2 6? E2?E BF6 DF3DE:EFE U =2 =Y4967C:E6 )=246K =2 E_=6 DFC =2 8C:==6 6E DF:G6K =6D :?7@C>2E:@?D :?5:BFZ6D 52?D =6D E23=62FI 2:E E@FE 6? >ZE2= ! 1 /@FD A@FG6K A=246C
3,@110= 70 1:@= '@FC DFAAC:>6C = @56FC 56 ?6F7 492F776K =6 7@FC V G:56 6E 76C>[ #2 >6:==6FC6 D@=FE:@? 4@?D:DE6 V 492F776C =6 7@FC A6?52?E F?6 96FC6 2G64 =2 492=6FC 56 G@cE6 6E =2 492=6FC 56 D@=6 % V N -[C:7:6K BF := ?6 C6DE6 2F4F? [=[>6?E 5 6>32==286 V = :?E[C:6FC 5F 7@FC *[=64E:@??6K =2 492=6FC 56 G@cE6 6E 46==6 56 D@=6 % V = 2:56 5F 3@FE@? 56 7@?4E:@?D *[=64E:@??6K N 2G64 =6 3@FE@? E6>A[C2EFC6 QE6:8?6K =6 7@FC 2ACZD F?6 96FC6 6? C6A=2Y2?E =6 3@FE@? 56 7@?4E:@?D 6? A@D:E:@? K[C@ !0??:D,20
:/0 /0 .
3,@11,20 =,;4/0 G64 =6 492F77286 C2A:56 G@EC6 7@FC 2EE6:?E A2CE:4F=:ZC6>6?E G:E6 =2 E6>A[C2EFC6 C[8=[6 ,E:=:D6K =6 492F77286 C2A:56 A@FC 56D E6>A[C2EFC6D C[8=[6D DFA[C:6FC6D V N #6D >@56D 56 4F:DD@? DF:G2?ED D@?E 2AAC@AC:[D H 92=6FC E@FC?2?E6 2 H @?G64E:@? ?2EFC6==6 % H 92=6FC 56 D@=6 $ 7:? 5 @3E6?:C F? C[DF=E2E 56 4F:DD@? F?:7@C>6 >6EE6K G@EC6 A=2E 52?D =6 4@>A2CE:>6?E 56 4F:DD@? D6F=6>6?E =@CDBF6 =6 492F77286 C2A:56 6DE E6C>:?[ )[8=6C =6 >@56 56 4F:DD@? 6E =2 E6>A[C2EFC6 AAFJ6C DFC =2 E
49@?0=40 -@FD A@FG6K FE:=:D6C =2 >:?FE6C:6 4@>>6 >:?FE6FC 56 4F:D:?6 = 7@?4E:@??6 :?5[A6?52>>6?E 5F 4@>A2CE:>6?E 56 4F:DD@? #6 >:?FE6FC [>6E F? D:8?2= D@?@C6 DA[4:7:BF6 6 =2 D@CE6 G@FD A@FG6K 5:DE:?8F6C D: 4 6DE =6 >:?FE6FC @F F?6 5FC[6 BF: D 6DE [4@F=[ AAFJ6C F?6 7@:D DFC =2 E@F496 = 277:49286 =6D DJ>3@=6D 56 E6>AD D 2==F>6?E 6E =6 DJ>3@=6 7:8FC6 6?EC6 A2C6?E9ZD6D )[8=6C =6 E6>AD 5F >:?FE6FC 2F >@J6? 56 =2 E@F496 @ @F A -2=6FC 56 C[7[C6?46 E@F496 @ >:?FE6D -2=6FC 56 C[7[C6?46 E@F496 A
@=N0 -@FD A@FG6K C[8=6C DFC =6 7@FC =2 5FC[6 56 4F:DD@? A@FC G@EC6 >6ED #6 7@FC D [E6:?E 2FE@>2E:BF6>6?E =@CDBF6 =2 5FC[6 D 6DE [4@F=[6 @?4 A2D 36D@:? 5 :?E6CC@>AC6 5 2FEC6D EW496D A@FC [E6:?5C6 =6 7@FC #6 E6>AD 56 4F:DD@? ?6 D6C2 A2D 5[A2DD[ :?G@=@?E2:C6>6?E I6>A=6 52?D = :==FDEC2E:@? FC[6 >:?FE6D )[8=6C =6 >@56 56 4F:DD@? V = 2:56 5F D[=64E6FC 56D 7@?4E:@?D )[8=6C =2 E6>A[C2EFC6 @F =2 A@D:E:@? 8C:= V = 2:56 5F E96C>@DE2E AAFJ6C 56FI 7@:D DFC =2 E@F496 = 277:49286 2AA2C2^E #6D DJ>3
#6 7@FC D6 >6E 6? >2C496 BF6=BF6D D64@?56D A=FD E2C5 #2 5FC[6 D [4@F=6 G:D:3=6>6?E V = 277:49286 6E =6 DJ>3@=6 0 1 6DE 2==F>[ #6D 2FEC6D DJ>3@=6D 56 E6>AD D 677246?E , /@=N0 > 0>? N.
-6:==6K V 46 BF6 =6D 2=:>6?ED ?6 C6DE6?E A2D EC@A =@?8E6>AD 52?D =6 4@>A2CE:>6?E 56 4F:DD@? 6E D6 8WE6?E I6>A=6 52?D = :==FDEC2E:@? = 6DE 9 =2 5FC[6 6DE >:?FE6D 6E =2 4F:DD@? 5@:E \EC6 E6C>:?[6 V )[8=6C =6 D[=64E6FC 56D 7@?4E:@?D )[8=6C =6 E96C>@DE2E AAFJ6C 56FI 7@:D DFC =2 E@F496 )[8=6C =2 5FC[6 V = 2:56 56 =2 E@F496 @ @F A AAFJ6C DFC =2 E@F496 #6D A2C6?E9ZD6D D@?E 2FE@FC 56 # 96FC6 V =2BF6==6 =6 >6ED D6C2 AC\E D 277:496 :77[C6C = 96FC6 56 =2 7:? V = 2:56 56 =2 E@F496
ACZD BF6=BF6D D64@?56D =6 7@FC G2=:56 =6D C[8=286D 6E D6 >6E 6? A@D:E:@? 5 2EE6?E6 # 277:49286 :?5:BF6 = 96FC6 V =2BF6==6 =6 >6ED D6C2 AC\E 6E =6 DJ>3@=6 7:8FC6 6?EC6 A2C6?E9ZD6D #6D DJ>3@=6D 6E D [E6:8?6?E #@CDBF6 =6 7@FC 5[>2CC6 =2 5FC[6 D [4@F=6 G:D:3=6>6?E 6E =6 DJ>3@=6 7:8FC6 6?EC6 A2C6?E9ZD6D #6 DJ>3@=6 D [E6:?E , /@=N0 > 0>? N.
0@=0 ACZD 2G@:C 3C2?49[ = 2AA2C6:= @F 2ACZD F?6 A2??6 56 4@FC2?E =6 DJ>3@=6 6E BF2EC6 K[C@D D@?E 2==F>[D V = 277:49286 )[8=6K = 96FC6 AAFJ6C DFC =2 E@F496 = 277:49286 2AA2C2^E = 96FC6 )[8=6C = 96FC6 2F >@J6? 56 =2 E@F496 @ @F A # 96FC6 C[8=[6 D6C2 G2=:5[6 2F 3@FE 56 BF6=BF6D D64@?56D :/4140= 7 30@=0 F4F?6 2FEC6 7@?4E:@? 56 E6>AD ?6 5@:E 2G@:C [E[ C[8=[6 AAFJ6C BF2EC6 7@:D DFC =2 E@F496 = 277:49286 =6D DJ>3@=6D 56 E6>AD D 2==F>6?E 6E =6D A2C6?E9ZD6D D@?E 2FE@FC 56 $@5:7:6C
.?4A0= 7, >N.@=4?NT091,9?> F4F?6 5FC[6 @F 96FC6 56 =2 7:? ?6 5@:E 2G@:C [E[ C[8=[6 AAFJ6C DFC =2 E@F496 A6?52?E BF2EC6 D64@?56D 6?G #6 DJ>3@=6 2AA2C2^E V = 277:49286 #2 D[4FC:E[f6?72?ED 6DE 24E:G[6 N>,.?4A0= 7, >N.
@?7:C>6K >@J6??2?E =2 E@F496 #6 A2??62F :?5:42E6FC 277:496 =6 C[8=286 56 32D6 DF:G2?E '2DD6K E@FD =6D ?:G62FI V = 2:56 56 =2 E@F496 AF:D >@5:7:6K =6 C[8=286 >@J6??2?E =6D E@F496D @ @F A AAFJ6K DFC =2 E@F496 6?G:C@? D64@?56D A@FC E6C>:?6C +@FD =6D C[8=286D 56 32D6 2FC@?E [E[ 2AA=:BF[D #6D C[8=286D 56 32D6 A6FG6?E \EC6 >@5:7:[D V E@FE >@>6?E %08,=<@0 #6D C[8=286D C[2=:D[D ?6 D@?E A2D >[>@C:D[D D: = 2AA2C6:= 6DE 5[3C2?49[ 5F C[D62F [=64EC:BF6 @F D := D6 AC@5F:E F?6 4@FAFC6 56 4@FC2?E #6 7@FC C6
#=:/@4?> /0 90??:D,20 +6?6K 4@>AE6 56D C64@>>2?52E:@?D 5F E23=62F A@FC ?6 A2D 6?5@>>286C =6D 5:77[C6?E6D DFC7246D 5F 7@FC 2G64 F? AC@5F:E 56 ?6EE@J286 :?252AE[ % FE:=:D6K A2D H 56D AC@5F:ED 56 ?6EE@J286 23C2D:7D @F 24:56D H 56D 3C@DD6D @F [A@?86D 5FC6D H 56D ?6EE@J6FCD V 92FE6 AC6DD:@? @F V G2A6FC #2G6K D@:8?6FD6>6?E =6D [A@?86D ?6FG6D 2G2?E 56 =6D FE:=:D6C %43* 74):.
$ % % ( & % # % % % & % ' % % % % % $ % & $ ! !
:9.?4:9 7@84M=0 '@FC D:>A=:7:6C =6 ?6EE@J286 5F 7@FC := 6DE A@DD:3=6 5 2==F>6C = 2>A@F=6 5F 4@>A2CE:>6?E :?E[C:6FC 5F 7@FC 77@80= 7 ,8;:@70 /@ 1:@= +@FC?6K =6 3@FE@? 56 7@?4E:@?D DFC =2 A@D:E:@? ^ # 2>A@F=6 D 2==F>6 #6 3@FE@? E6>A[C2EFC6 5@:E \EC6 [E6:?E ?049/=0 7 ,8;:@70 /@ 1:@= +@FC?6K =6 3@FE@? 56 7@?4E:@?D DFC =2 A@D:E:@? ^ N.=:.30= 0? ,..=:.30= 70> >@;;:=?> '@FC =6 ?6EE@J286 G@FD A@FG6K 6?=6G6C =6D DFAA@CED #6 7@FC 5@:E \EC6 C67C@:5: N.=:.
?8286C =6 DFAA@CE 5 23@C5 52?D =2 AC:D6 2CC:ZC6 =6 ..=:.30= 70> >@;;:=?> A@FDD6C =[8ZC6>6?E 6? 2CC:ZC6 :8 6E = 244C@496C 6?DF:E6 52?D =2 AC:D6 2G2?E :8 #6D DFAA@CED D 252AE6?E V 5C@:E6 6E V 82F496 #2 4@FC3FC6 5@:E E@F;@FCD \EC6 6? 32D N8:9?,20 /0 7, =N>4>?,9.
N8:9?0= 0? =08:9?0= 7, ;:=?0 /@ 1:@= '@FC D:>A=:7:6C =6 ?6EE@J286 56D A=2BF6D 6? G6CC6 := 6DE A@DD:3=6 56 5[>@?E6C =2 A@CE6 5F 7@FC #6D 492C?:ZC6D 56 =2 A@CE6 D@?E [BF:A[6D 5 F? E2BF6E 56 G6CC@F:==286 #@CDBF6 46=F: 4: 6DE 6? A@D:E:@? G6CC@F:==[6 D49[>2 := 6DE :>A@DD:3=6 56 5[>@?E6C =2 A@CE6 *: =6 E2BF6E 6DE 6? A@D:E:@? 5[G6CC@F:==[6 =6D 492C?:ZC6D D6 3=@BF6?E 6E G@FD A@FG6K 5[>@?E6C =2 A@CE6 D49[>2 :?D: := 6DE :>A@DD:3=6 BF6 =2 A@CE6 D6 C676C>6 3CFDBF6>6?E N8:9?0= 7, ;:=?0 2?86C 5
%08:9?0= 7, ;:=?0 )6A=246K =2 A@CE6 6? DF:G2?E =6D >\>6D [E2A6D >2:D 6? D6?D :?G6CD6 F >@>6?E 56 C6A@D6C =2 A@CE6 G6:==6K V 46 BF6 =6D 56FI 492C?:ZC6D D 6?42DEC6?E A2C72:E6>6?E 52?D =6FC @FG6CEFC6 C6DA64E:G6 *49[>2 #2 76?E6 :?7[C:6FC6 56D 492C?:ZC6D 5@:E D 6?42DEC6C 56D 56FI 4`E[D *49[>2 *: =6D 492C?:ZC6D ?6 D@?E A2D 4@CC64E6>6?E >:D6D 6? A=246 =2 A@CE6 A@FCC2:E ?6 A2D \EC6 2=:8?[6 )676C>6K =6D E2BF6ED 56 G6CC@F:==286 *49[>2 )676C>6K =2 A@CE6 5F 7@FC 2?86C 56 =[D:@?D
N8:9?0= 0? =08:9?0= 70> ;7,<@0> 09 A0==0 /0 7, ;:=?0 N8:9?,20 = 6DE A@DD:3=6 56 5[>@?E6C =6D A=2BF6D 6? G6CC6 56 =2 A@CE6 5F 7@FC A@FC D:>A=:7:6C =6 ?6EE@J286 [>@?E6K =2 A@CE6 5F 7@FC 6E A@D6K =2 DFC F? 49:77@? =2 A@:8?[6 G6CD =6 32D [G:DD6K =6 4@FG6C4=6 56 =2 A2CE:6 DFA[C:6FC6 56 =2 A@CE6 5F 7@FC '@FC 46=2 56DD6CC6K =6D G:D V 82F496 6E V 5C@:E6 *49[>2 )6=6G6K 6E D@CE6K =2 A=2BF6 6? G6CC6 DFA[C:6FC6 *49[>2 *: =2 A@CE6 4@>A@CE6 EC@:D A=2BF6D 6? G6CC6 C[2=:D6K = [E2A6 DFAA=[>6?E
>>08-7,20 *: =2 A@CE6 5F 7@FC 4@>A@CE6 56FI A=2BF6D 6? G6CC6 C[2=:D6K =6D [E2A6D V ?EC@5F:D6K =2 A=2BF6 6? G6CC6 A2C = 2CC:ZC6 6? = :?4=:?2?E *49[>2 -6:==6K V 46 BF6 = :?D4C:AE:@? L ):89E 23@G6 O D@:E @C:6?E[6 G6CD =6 92FE 6E =2 5C@:E6 ?EC@5F:D6K =2 A=2BF6 6? G6CC6 DFA[C:6FC6 A2C = 2CC:ZC6 6? = :?4=:?2?E #2 DFC7246 =:DD6 5@:E D6 EC@FG6C G6CD = 6IE[C:6FC )6A=246K 6E C6G:DD6K =6 4@FG6C4=6 )6>@?E6K =2 A@CE6 5F 7@FC (?474>0E @94<@0809? 70 1:@= ,;=M> A:@> O?=0 ,>>@=N <@0 70> ;7,<@0> 09 A0=
9.4/09?> 0? /N;,99,20 ,?6 2?@>2=:6 56 7@?4E:@??6>6?E ? 6DE D@FG6?E 5F6 BF V F? AC@3=Z>6 D:>A=6 G2?E 5 2AA6=6C =6 D6CG:46 2ACZDfG6?E6 G6F:==6K 6DD2J6C 56 C6>[5:6C G@FDf>\>6 2F 5[C2?86>6?E V = 2:56 5F E23=62F ',-70,@ /0 /N=,920809?> &33* &:8* 5488.
3,920= 7 ,8;:@70 /0 7, ;7,<@0 >@;N=40@=0 /@ 1:@= ):DBF6 56 49@4 [=64EC:BF6 #6D C[A2C2E:@?D :?6IA6CE6D D@?E 52?86C6FD6D *6F= F? E649?:4:6? 5F D6CG:46 2ACZDfG6?E6 7@C>[ A2C ?@D D@:?D 6DE 923:=:E[ V 67764EF6C 56D C[A2C2E:@?D # 2>A@F=6 5F 7@FC 5@:E \EC6 C6>A=24[6 D: 6==6 6DE 5[E[C:@C[6 6D 2>A@F=6D 56 C6492?86 C[D:DE2?E6D V =2 E6>A[C2EFC6 A6FG6?E \EC6 2496E[6D 2FACZD 5F *6CG:46 +649?:BF6 @F 52?D 56D 4@>>6C46D DA[4:2=:D[D % FE:=:D6K BF6 46D 2>A@F=6D 2?86C 56 5[492C86 [=64EC:BF6 [3C2?496K = 2AA2
&0=A4.0 ?0.394<@0 %@EC6 *6CG:46 E649?:BF6 6DE V =2 5:DA@D:E:@? 56D FE:=:D2E6FCD A@FC 67764EF6C 56D C[A2C2E:@?D 56 = 2AA2C6:= C[2=:D6C = 2492E 5 2446DD@:C6D @F 56 A:Z46D 5[E249[6D 6E C[A@?5C6 V E@FE6 BF6DE:@? DFC ?@D AC@5F:ED @F D6CG:46D #6D :?7@C>2E:@?D 56 ?@EC6 *6CG:46 E649?:BF6 D@?E 5:DA@?:3=6D DFC =2 5@4F>6?E2E:@? ;@:?E6 !F /0 ;=:/@4? 0? 9F /0 1,-=4.
&FGC6K =6 >@:?D A@DD:3=6 =2 A@CE6 5F 7@FC A6?52?E =6 4J4=6 56 4F:DD@? 6E 56 C`E:DD286 *: G@FD 6?7@FC?6K A=FD:6FCD 8WE62FI 72:E6D =6 56 AC[7[C6?46 F? A2C F? #6 7@FC D6C2 6?4@C6 492F5 6E G@FD C[5F:C6K 2:?D: =6 E6>AD 56 4F:DD@? 5F D64@?5 8WE62F -@FD A@FG6K [82=6>6?E 6?7@FC?6C 56FI >@F=6D C64E2?8F=2:C6D = F? V 4`E[ 56 = 2FEC6 '@FC =6D E6>AD 56 4F:DD@? =@?8D G@FD A@FG6K [E6:?5C6 =6 7@FC >:?FE6D 2G2?E =2 7:? A@FC E:C6C AC@7:E 56 =2 492=6FC C[D:5F6==6 G74849,?4:9 /0> =N>4/@> /0 8,94M=0 N.
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
C9*&:= B 57F5&7*7 )&38 )*8 24:1*8 4:1* 8:7 1& ,7.11* &:9* :7 4)* )* (:.8843 !*25F7&9 !*258 )* :7* @ (:.8843 2.
C9*&:= 8:7 1& 9J1* )* (:.8843 ,EC@F56= DF4CZ &:9* :7 4)* )* !*25F7&9:7* (:.8843 @ 2 d d -_=6 56 4F:DD@? 6? 2=F>:?:F> !J1* )* (:.8843 F2&.11F* 51&9* 2 -_=6 56 4F:DD@? 6? 2=F>:?:F> !J1* )* (:.8843 F2&.11F* 574+43)* 2 -_=6 !*258 )* (:.8843 2.3:9*8 ,: G@FD 4F:D6K DFC 56FI ?:G62FI A=246K E@F;@FCD =2 E_=6 56 4F:DD@? Z>2:==Z6 AC@7@?56 2F ?:G62F DFAZC:6FC &.3 *9 5*9.98 5&.38 &:9* 4)* )* !*25F7&9 !*258 )* :7 (:.8843 :7* @ (:.8843 2.
C9.88*7.* &242C@?D )=2BF6 A=2BF6D &:9*:7 4)* )* (:.8843 !*25F7&9 :7* @ !*258 )* (:.8843 2.3:9*8 d d d d % 2 ,: G@FD 4F:D6K DFC 56FI ?:G62FI A=246K E@F;@FCD =2 E_=6 56 4F:DD@? Z>2:==Z6 2F ?:G62F :?7ZC:6FC /@FD A@FG6K 24BFZC:C 56D A=2BF6D DFAA=Z>6?E2:C6D 52?D =6D 4@>>6C46D DAZ4:2=:DZD :9>047> ;=,?4<@0> /0 .@4>>:9 . ;4:8 8:.;*? ;497* 57457* 7*(*99* /@FD A@FG6K G@FD C6A@CE6C U F? AC@5F:E ZBF:G2=6?E 5F E23=62F 56 4F:DD@? #F7.+.
*8 5*9.98 +4:78 3* 8439 5&8 94:8 )47F8 )* 1& 2G2* 2&3.E7* 9@:D:DD6K F?6 E6>AZC2EFC6 :?7ZC:6FC6 =6D A6E:ED 7@FCD D6C@?E 2=@CD A=FD 9@>@8Y?6D ?7@FC?6K =6D A6E:ED 7@FCD =6D A=FD 5Z=:42ED U F? ?:G62F 2G64 492=6FC 56 G@aE6 6E 56 D@=6 t %6 A2A:6C DF=7FC:DZ BF: 5ZA2DD6 A6FE Z82=6>6?E 2G@:C F?6 :?7=F6?46 DFC =2 4:C4F=2E:@? 56 = 2:C Z4@FA6K =6 E@F;@FCD A@FC BF := 4@CC6DA@?56 U =2 E2:==6 5F 324 :.8843 8:7 51:8.*:78 3.;*&:= *8 5*9.98 +4:78 )* 1& 9J1* 8:5F7.*:7* 8439 51:8 842'7*8 6:* (*:= )* 1& 9J1* .3+F7.
'C6?6K D: A@DD:3=6 56D A:Z46D V 8C:==6C 56 >\>6 [A2:DD6FC ==6D 5@:G6?E 72:C6 V 4> 5 [A2:DD6FC >:?:>F> ==6D D6C@?E 2=@CD F?:7@C>[>6?E 5@C[6D 6E 3:6? ;FE6FD6D *2=6K =6D DE626?E F?6 7@:D 8C:==[D [A@D6K =6D >@C462FI V 8C:==6C 5:C64E6>6?E DFC =2 8C:==6 *: G@FD 72:E6D 8C:==6C F?6 D6F=6 A:Z46 G@FD @3E:6?5C6K =6D >6:==6FCD C[DF=E2ED 6? =2 A=2Y2?E 2F 46?EC6 56 =2 8C:==6 ?7@FC?6K 6? A=FD =2 >@F=6 [>2:==[ 2F ?:G62F ==6 C[4FAZC6 =6 ;FD 56 G:2?56 6E =6 7@FC D6 D2=:E >@:?D FI 56FI E:6CD 5F E6>AD 56 4F:D
#.&3)* 4.)8 #&.88*11* &:9*:7 4)* )* (:.8843 +_E: 56 G:2?56 9249Z6 8 @FG6CE ,2F4:DD6D 8 6?G +_E: 56 G62F <8 <8 <8 :8@E 5 28?62F 5ZD@DDZ !*25F7&N :7F* 9:7* @ ,7.1 2.3:9*8 R d x @FG6CE t t d d @FG6CE R d C:==6 -@FC?6K =6 C@D3:7 U >:d4F:DD@? .
#41&.11* 4.)8 (:6 <8 C:==6 :?5@??62F <8 C:==6 4F:DD6D 56 5:?56 56 C:==6 #&.88*11* 8 &:9*:7 4)* )* (:.8843 !*25F7&9:7* @ :7F* 2.3:9*8 R d d R d d R d d #6 E23=62F D 6?E6?5 A@FC F? 6?7@FC?6>6?E 52?D =6 7@FC 7C@:5 #:4>>:9 4.8843 4.)8 )@:DD@? 8C:==Z 56 8 <8 <8 C:==6 x R R d d d d d )@:DD@? 6? EC2?496D A 6I 56D 52C?6D 56 C:==6 x d #&.88*11* &:9*:7 4)* )* (:.
* 7J9. *89 /41. 2&.8 1* /:8 3 & 5&8 '7:3. .1 *89 9745 (1&.7 %2 AC@492:?6 7@:D FE:=:D6K F? CZ4:A:6?E A=FD 8C2?5 @F 2;@FE6K >@:?D 56 =:BF:56 : 242*39 )* +&.7* 1* /:8 )* 7J9.
#6D E6>AD 56 5[4@?8[=2E:@? G2C:6?E 6? 7@?4E:@? 56 =2 ?2EFC6 6E 56 =2 BF2?E:E[ 56D AC@5F:ED V 5[4@?86=6C 1&9 ((*884.7*8 74):.98 8:7,*1F8 -2CE6D U =2 4CY>6 E2CE6D 8=24Z6D 2F 49@4@=2E @F 2F 42C2>6= 7CF:ED A@F=6E A6E:E6D D2F4:DD6D 6E G:2?56 A2:? A6E:ED A2:?D 8VE62FI 6E 2FEC6D A6E:ED 7@FCD A2C 6I C:==6 &:9*:7 4)* )* (:.
#6D EJA6D 56 4F:DD@? :?5:BF[D @?E [E[ 42=4F=[D 6? A=2Y2?E =6D AC@5F:ED 52?D =6 7@FC 7C@:5 1&9 C:E6D -_=6 56 4F:DD@? Z>2:==Z6 &:9* 4)* :7 )* (:.884 3 !*25F7&9:7* @ :7F* *3 2.
#6D E6>AD :?5:BF[D D@?E 56D G2=6FCD :?5:42E:G6D #2 E6>A[C2EFC6 2>3:2?E6 =6 ?@>3C6 56 A@ED 6E =2 E6>A[C2EFC6 56 =6FC 4@?E6?F A6FG6?E 72:C6 G2C:6C 46D G2=6FCD G2?E 5 [E6:?5C6 =6 7@FC 2DDFC6K G@FD BF6 =6 4@?E6?F 56D A@ED 3@F:==@??6 C[6==6>6?E , ;=:2=,88,?4:9 > 0110.
F,:2*8 &;*( '4:.1143 +74.) )&38 )*8 5498 ) :3 1.97* E8 6:* )*8 ':11*8 &55&7&.88*39 F(-&:++*2*39 5489F7.
1&9 VE62F D:>A=6 VE62F U =2 =6GFC6 4F:E DFC A=2BF6 VE62F 2FI A@>>6D ?2AAZ ((*884.7*8 (438*.18 *9 &;*79.88*2*398 &:9*:7 4)* )* (:.8843 !*25F7& :7F* )* 9:7* @ (:.8843 *3 2.
'22/ 555 ".1#'6'!31&%0!%2% $% '22/ 555 ".1#'!//+(!-#%1 #. 3* '22/ 555 ".1#'6%+%#20.,%-!&%0 #., '22/ 555 ".1#'6'3(1'.3$%+()*%6!//!0!2%- -( '22/ 555 ".1#'6*.$(-*.-%%2 #., '22/ 555 ".1#'6'4($%4!0%0 #., '22/ 555 ".1#'6%$ #., '22/ 555 ".1#' /2 '22/ 555 %+%#20. ".1#' "% '22/ 555 ".1#' #., !3 '22/ 555 ".1#'6'!31&%0!%2% !2 '22/ 555 ".1#'%+%#20.$.,%12(#.1 #., "0 '22/ 555 ".1#'6'.,% &0 '22/ 555 ".1#'6!//+(!-#%1 #.
