+) % ( $ %+ # >A -0A<8=6 A0F4AB %>C824 3 DC8;8B0C8>= $>34;B $0=D0; 34 8=BCAD228>=4B - *8A>8A 34 270D55064 09]= 20;84=C0?;0C>B -
&+,6/ 90 98>/8>= 1>DC *78B $0=D0; >F *78B $0=D0; B &A60=8I43 b)054CH >AC0=C )054CH =BCAD2C8>=B b 4CC8=6 )C0AC43 '0ACB 0=3 224BB>A84B =2;D343 b&?4A0C8>= 1>DC C74 ??;80=24 b 4CC8=6 C74 $>BC &DC >5 .
,9?> &23= +8?+6 9A &23= +8?+6 = !<1+83D/.
P%+0/>C 7:9<>+8> %+0/>C 8=>->398= ( % ) , * ) %)*(+ * &%) 8=>+66+>398 8>/8./.
7:9<>+8> %+0/>C 8=>->398= ( % ) , * ) %)*(+ * &%) 3C > =>C DB4 0;D<8=D< 5>8; >A ?A>C42C8E4 ;8=4AB C> ;8=4 0=H ?0AC >5 0= 0??;80=24 4B?4280;;H BDA5024 D=8C 3A8? 1>F;B >A >E4= 1>CC>< =BC0;;0C8>= >5 C74B4 ;8=4AB <0H A4BD;C 8= 0 A8B: >5 4;42CA82 B7>2: >A 58A4 5 <0C4A80;B 8=B834 0= >E4= >A F0A<8=6 3A0F4A B7>D;3 86=8C4 :44? 3>>A 2;>B43 *DA= >55 C74 0??;80=24 0=3 38B2>==42C C74 28A2D8C 0C C74 28A2D8C 1A40:4A 1>G +B4 C78B 0??;80=24 >=;H 5>A 8CB 8=C4=343 DB4 0B 34B2A8143 8= C78B <0=D0; >
7:9<>+8> %+0/>C 8=>->398= ( % ) , * ) %)*(+ * &%) )9<5 %:+-/ 8@3<987/8> +B4 >=;H 3AH ?>C7>;34AB $>8BC >A 30 ?>C7>;34AB >= 7>C BDA5024B <0H 20DB4 1DA=B 5A>< BC40< > =>C DB4 0 C>F4; >A >C74A 1D;:H 2;>C7 8= ?;024 >5 ?>C7>;34AB -40A ?A>?4A 0??0A4; d #>>B4 58CC8=6 >A 70=68=6 60A<4=CB B7>D;3 =4E4A 14 F>A= F78;4 DB8=6 C74 0??;80=24 6/+8381 ;;>F C> 2>>; 145>A4 2;40=8=6 )F8C27 >55 C74 0??;80=24 > =>C DB4 0 BC40< 94C 2;40=4A C> 2;40= C74 3A0F4A *74A4 8B 0 A8B: >5 B7>ACd28A2D8C8=6 %/<@3-/ +
P />>381 %>+<>/. "+<>= +8. --/==9<3/= 8-6?./.
//: *74 2>=CA>; ?0=4; 144?B C> 2>=58A< 0= 4=CAH *74 C8<4A 144?B 58E4 C8<4B F74= C74 C8<4 70B 4;0?B43 9> %?<0+-/ 8.
P!:/<+>398 ,9?> >2/ ::63+8-/ *74 F0A<8=6 3A0F4A F8;; :44? 7>C 2>>:43 5>>3 0C B4AE8=6 C44A0CDA4 ;F0HB BC0AC F8C7 7>C 5>>3 & %&* DB4 C> 740C 2>;3 5>>3 >C74A C70= ?A>>58=6 H40BC 3>D67 2A8B?8=6 2A02:4AB 278?B 0=3 3AH 24A40; >A F0A<8=6 ?;0C4B 0=3 2>>:F0A4 !:/<+>398 )+<7381 -995A+=C08=4AB >A ?;0BC82 FA0? 20= <4;C 85 8= 2>=C02C F8C7 C74 3A0F4A >A 0 7>C DC4=B8; 5 8C <4;CB >=C> C74 3A0F4A 8C <0H =>C 14 A4<>E01;4 9>/ c&=;H ;>03 C74 F0A<8=6 3A0F
'& ! c > =>C ?;024 7>C ?>CB 0=3 ?0=B >= C74 F0A<8=6 3A0F4A 1>CC>< 8<<4380C4;H 05C4A A4<>E8=6 C74< 5A>< C74 >E4= >A 2>>:C>? *78B <0H 30<064 C74 6;0BB BDA5024 =BC403 CA0=B54A 5>>3 C> 0 740CdB054 B4AE8=6 38B7 145>A4 ?;028=6 8C 8= C74 F0A<8=6 3A0F4A *8? ';024 B4AE8=6 38B7 8= C74 F0A<8=6 3A0F4A 3DA8=6 ?A4740C8=6 C> F0A< 8C D? "381 'A4740C C74 F0A<8=6 3A0F4A F74= F0A<8=6 5>>3 >A 14BC A4BD;CB ?A4740C 5>A C74 5>;;>F8=6 C8<4B #&- <8=DC4B $ $438D< <8=DC4B <8=DC4B '# * ) C 8B =>C =424BB
%+,,+>2 /+>?A A4;868>DB 508C7B F8C7 J=> F>A: A4@D8A4<4=CB >= C74 )0110C7 *74 F0A<8=6 3A0F4A 20= 14 B4C C> AD= 5>A >A 7>DAB 145>A4 0DC><0C820;;H CDA=8=6 >55 -78;4 >?4A0C8=6 8= )0110C7 <>34 C74 38B?;0H F8;; B7>F ) *74 C8<4 20==>C 14 270=643 >=24 C74 )0110C7 540CDA4 8B B4C 'A4BB & 0C 0=H C8<4 3DA8=6 C74 )0110C7 <>34 C> 4=3 C74 <>34 0=3 CDA= >55 C74 0??;80=24 %/>>381 >2/ %+,,+>2 /+>?A C74 34B8A43 C44A0CDA4 'A4BB ?03 *8<4A
P />>381 >2/ 9=> !?> 90 *9?< ::63+8-/ &+,6/ &/7:/<+>?398= /@/6 99.
P 6/+8381 +8. +38>/8+8-/ +55 C74 0??;80=24 ;;>F C> 2>>; 145>A4 2;40=8=6 7;>A8=4 0=3 27;>A8=4 2>>D=3B 0A4 2>AA>B8E4 C> BC08=;4BB BC44; 742: C74 ;014;B >5 H>DA 2;40=4AB 6A+C= <38=/ +8. .
P%/<@3-/ /-/==+398 -74= 2>=C02C8=6 B4AE824 ?;40B4 70E4 H>DA B4A80; =D<14A 0=3 <>34; =D<14A A403H "<9.
)+<<+8>C ?66 !8/ */+< )+<<+8>C >E4AB >=4 H40A 5A>< 30C4 >5 =BC0;;0C8>= >A 30C4 >5 >22D?0=2H >= 0 =4F ?A4E8>DB;H D=>22D?843 3F4;;8=6 )0E4 H>DA 30C43 A4248?C >A >C74A 4E834=24 >5 8=BC0;;0C8>= >22D?0=2H 30C4 )/ )366 "+C 9< ;; A4?08A 0=3 A4?;024<4=C ?0ACB 5>D=3 C> 14 34542C8E4 3D4 C> <0C4A80;B 0=3 F>A:<0=B78? )4AE824 E8343 1H 0 02C>AH DC7>A8I43 )4AE824 64=2H 3DA8=6 =>A<0; F>A:8=6 7>DAB >A 0 )4AE824 64=2H =40A4BC H>D ?;40B4 20;; d d )/ )366 9> "+C 9< /8/<+6 809<7+>398
&+,6/ .
F :<9:9= ./ -/ 7+8?/6 +83J
P%K-?<3>K .
./ =K-?<3>K 8=>->398= 37:9<>+8>/= # ( / * ( / ) %)*(+ * &%) %K-?<3>KQ38-/8.
./ =K-?<3>K 8=>->398= 37:9<>+8>/= # ( / * ( / ) %)*(+ * &%) && & ! c%4 ?0B A0=64A 34B >194CB @D8 ?AXB4=C4=C D= 8=CXAYC ?>DA ;4B 4=50=CB 30=B ; 0??0A48; ;4B ?;020A3B ?;02XB 0Dd34BBDB 34 ; 0??0A48; >D BDA ;4 3>BB4A4C #4B 4=50=CB ?4DE4=C 6A84A BDA ; 0??0A48; ?>DA 0CC48=3A4 24B >194CB 4C B4 1;4BB4A BXA84DB4<4=C =:+-/ .
P K7+<<+1/ "3J-/= /> +--/==93<<0=34 70D55064 S 2>=E42C8>= !>8=C >=3 34 C8A>8A E8CAX 55827064 ';0@D4CC4B 34 C48= 34 B86=0; ';0@D4CC4B 34 <8=DC4A84 ';0@D4CC4 &
3: #4 ?0==40D 34 2><<0=34 X<4C D= 18? ?>DA 2>=58A<4A D=4 4=CAX4 #0 <8=DC4A84 X<4C 28=@ 18?B ;>AB@D4 ;4 C4D;X 8.3-+>/?< ./ =?<0+-/ -2+?.
P 98->3988/7/8> F :<9:9= ./ 6 +::+8A AX270D554d?;0C 2>=B4AE4A0 ;4B 0;8<4=CB 270D3B 4C 2D8CB S ;0 C4<<4=24I C>D9>DAB 0E42 34B 0;8<4=CB 270D3B % +* # ) / ' ) ; 0??0A48; ?>DA AX270D554A 34B 0;8<4=CB 5A>83B S ; 4G24?C8>= 34 ;0 ?AX?0A0C8>= 34 ;0 ?UC4 ;4EX4 ;4 A0554A<8BB4<4=C 34B 2A0@D4;8=B 2A>DBC8;;4B 2XAX0;4B >D ;4 AX270D554<4=C 34B 0BB84CC4B 4C 34B ?;0CB 0;;0=C 0D 5>DA 98->3988/7/8> $K-2+?00/7/8> .
BBDA4IdE>DB 34 <08=C4=8A ;4B 0;8<4=CB S D=4 C4<<0=34 34 <08=C4=8A ;4B 0;8<4=CB 270D3B S N >D ?;DB '>DA ;4 1>4D5 DC8;8B4I D= C74A<>AC0C85 ?>DA EXA8584A ;0 C4<<0=30C8>= %4 AX270D554I ?0B ;4B 0;8<4=CB 270D3B ?4=30=C ?;DB 3 D=4 74DA4 && & ! c%4 ?;024I ?0B 34B <0A<8C4B >D 34B ?>Y;4B BDA ;4 5>=3 3D C8A>8A AX270D554d?;0C 8<8A A4C8AXB 3D 5>DA >D 34 ;0 2D8B8=8WA4 4;0 ?4DC 4=3><<064A ;0 BDA5024 E8CAX4 *A0
98->398 .? %+,,+>2 #0 5>=2C8>= )0110C7 4BC 2>=VD S ; 8=C4=C8>= 34 2A>H0=24B A4;8684DB4B 8=C4A38B0=C ;4 CA0E08; ;4 9>DA 3D )0110C7 #4 C8A>8A AX270D554d?;0C ?4DC YCA4 AX6;X ?>DA YCA4 4= <0A274 ?4=30=C >D 74DA4B 0E0=C 34 B XC48=3A4 0DC><0C8@D4<4=C = <>34 )0110C7 ; 055827064 8=38@D4A0 ) # 74DA4 =4 ?4DC YCA4 270=6X4 D=4 5>8B @D4 ;0 5>=2C8>= 4BC AX6;X4 ??DH4I BDA & 4= C>DC C434 )0110C7 ?>DA <4CCA4 D= C4A<4 0D <>34 4C XC4=3A4 ; 0??0A48; $K16+1/ .
3@/+? 637/8> :6+> +66+8> +? 09?< $/7+<;?/ #&- #08BB4A ;0 ?UC4 ;4E4A >DE4A2;4 $ >=B4AE4A ;4B >4D5B 0D 270D3 ? 4G >4D5B 3DAB >4D5B 1A>D8;;XB 'AX270D554A ;4 ?;0C 0;;0=C 0D 5>DA 2>DEA8A ; 0;8<4=C $ >=B4AE4A ;4 ?08= 270D3 ? 4G A^C84 ?08= 1A8>274B C0AC4B 'AX270D554A ;4 ?;0C 0;;0=C 0D 5>DA 2>DEA8A ; 0;8<4=C $ ;8<4=CB 3X;820CB ? 4G 1>4D5 S ?>8=C 4C 184= 2D8C 90<1>= 06=40D ?>A2 'AX270D554A ;4 ?;0C 0;;0=C 0D 5>DA 2>DEA8A ; 0;8<4=C $ 0BB4A>;4 2XAX0;4B 2D8C4B 'AX270D554A ;4
P />>9C+1//> /8>3/8 8>3/8 /> 8/>>9C+1/ 8>3/8 /> 8/>>9C+1/ QC486=4I ; 0??0A48; #08BB4I ; 0??0A48; A45A>838A 0E0=C 34 =4CC>H4A #4 27;>A4 >D ;4B 2>>BXB 34 27;>A4 >=C D= 4554C =>285 BDA ; 0284A 8=>GH301;4 ,XA8584I ;4B XC8@D4CC4B 34 E>B =4CC>H0=CB $38-/D /> =K-2/D >9?49?<= H 098. BDAC>DC ;>AB@D4 E>DB DC8;8B4I D= =4CC>H0=C 0E42 3D 27;>A4 &+,6/+? &+,6/+? .
8>3/8 #4 C8A>8A AX270D554d?;0C 0 B4D;4<4=C 14B>8= 3 D= =4CC>H064 AX6D;84A ?>DA 4= 0BBDA4A ;4 5>=2C8>==4<4=C >?C8<0; D2D= 0DCA4 4=CA4C84= = 4BC A4@D8B ,>8A L =CA4C84= 4C =4CC>H064O 28d34BBDB ?>DA 34B 8=BCAD2C8>=B ?;DB 3XC08;;X4B $/><+3> .? >3<93< #4 C8A>8A AX270D554d?;0C = 4BC ?0B 0<>E81;4 P%/<@3-/ 809<7+>398 AB@D4 E>DB 2><8A B>DB ;0 <08= ;4 =D 34 BXA84 4C ;4 =D 34 <>3W;4 "6+;?/ =318+6K>3;?/ .? :<9.
+<+8>3/ +<+8>3/ .
98>/83.
-/<-+ .
P%/1?<3.+. ./ =/1?<3.+. 8=>--398/= 37:9<>+8>/= # .
./ =/1?<3.+. 8=>--398/= 37:9<>+8>/= # . + ( )* ) %)*(+ &% ) %/1?<3.+. :+<+ /@3>+< 38-/8.
./ =/1?<3.+. 8=>--398/= 37:9<>+8>/= # .
P N79 -97/8D+< "3/D+= C +--/=9<39= 38-6?3.
3: ; ?0=4; 34 2>=CA>; 4<8C4 D= 18? ?0A0 2>=58A<0A @D4 70 8=6A4B03> 8=5>A<028]= ; C4>A8I03>A 4<8C4 28=2> 18?B 2D0=3> 70 CA0=B2DAA83> 4; C84> 8=38203> 8.3-+.9< .
P!:/<+-3N8 -/<-+ ./6 /6/-><9.97K=>3-9 ; 209]= 20;4=C03>A <0=C84=4 ;>B 0;8<4=C>B 20;84=C4B H 2>283>B 0 D=0 C44A0CDA0 0342D030 ?0A0 B4AE8A )84<84=24 2>= 0;8<4=C>B 20;84=C4B %& DB4 4; 209]= ?0A0 20;4=C0A 0;8<4=C>B 5AZ>B B0;E> ?0A0 4;4E0A <0B0 2>= ;4E03DA0 C>BC0A 60;;4C0B ?0?0B 5A8C0B H 24A40;4B B42>B > ?0A0 20;4=C0A ?;0C>B H DC4=B8;8>B 34 2>28=0 !:/<+-3N8 "+<+ -+6/8>+< ?>/8=3639= .
B46`A4B4 34 <0=C4=4A ;0 C44A0CDA0 0342D030 34 ;>B 0;8<4=C>B ; 4?0AC0<4=C> 34 6A82D;CDA0 34 ;>B ++ +=8C43 )C0C4B 4?0AC<4=C >5 6A82D;CDA4 +) A42><84=30 <0=C4=4A ;>B 0;8<4=C>B 20;84=C4B 0 D=0 C44A0CDA0 34 M > ?0A0 20A=4 ?>ACTC8; ?0A0 <438A ;0B C44A0CDA0B 8=C4A=0B %> <0=C4=4A ;>B 0;8<4=C>B 20;84=C4B 3DA0=C4 A0 && ! c=> 2>;>@D4 >;;0B =8 10=3490B 20;84=C4B 4= ;0 10B4 34; 209]= 20;4=C03>A 8=<4380C0<4=C4 34B?DXB 34 B020A;0B 3
?8-3N8 ./ .L+ ./ .
3@/6 637/8>9= ?>/8=3639= .
P 37:3/D+ C 7+8>/8373/8>9 ?3.+.9 C 637:3/D+ ?3.+.9 C 637:3/D+ ?06D4 4; 4;42CA>3> 494 @D4 B4 4=5AZ4 0=C4B 34 ;880A ; 2;>A> H ;>B 2>B 34 2;>A> B>= 2>AA>B8E>B ?0A0 4; 024A> 8=>G8301;4 #40 ;0B 4C8@D4C0B 34 BDB ;8803>A4B %3/7:9>+67/8>/ 4= 4B?4280; 2D0=3> DB4 D= ;8803>A 2>= 2;>A> &+,6+ ?+.<9 ./ -?3.+.9 "3/D+ 37:3+.
P%/<@3-39 >K-83-9 809<7+-3N8 8/-/=+<3+ D0=3> B4 2>= 4; B4AE828> CX2=82> C4=60 0 ;0 <0=> 4; =`<4A> 34 B4A84 H 4; =`<4A> 34 <>34;> 34 BD 4;42CA>3> "6+-+ ./ .+>9= ./6 :<9.
+<+8>L+ +<+8>L+ >9>+6 :9< ?8 +M9 D1A4 D= 0\> 0 ?0AC8A 34 ;0 54270 34 8=BC0;028]= > 34 ;0 54270 34 >2D?028]= 34 D=0 E8E84=30 =D4E0 @D4 => 70H0 4BC03> >2D?030 ?A4E80<4=C4 >=B4AE4 BD A4281> 542703> > 2D0;@D84A >CA> 2>10=C4 34 ;0 54270 34 8=BC0;028]= >2D?028]= "+1+30B ;0B ?84I0B 34 A4?0A028]= > A4?D4BC> @D4 4BCX= 34542CD>B0B 34183> 0 ;>B <0C4A80;4B > ;0 <0=> 34 >1A0 ; B4AE828> CX2=82> 3414 B4A 1A8=303> ?>A D=0 64=280 34 )4AE828> *X2=82> DC>A8I030 ?>A ;0 T1A820 3DA0=C4 4; 7>A0A8> =>A<0;
9>/= 9>/= 9>3-3+=
9>/= 9>/= 9>3-3+=
* $2 0334= E4=D4 D=C8=6C>= 4027 d d d FFF C74A<03>A 2>< ) ><4 ??;80=24B >A?>A0C8>=