Information Fusion for Multidocument Summarization: Paraphrasing

Transcription

Information Fusion for Multidocument Summarization: Paraphrasing
# $
%&(' ) $*$+-,*./
1 !23!"*2
46587:9<;>= ?@=*ACBD9FE<=8G
HIKJKLNMPOQOSRUT MPVXWZY\[QO]M^Y\_a`bIK_PcK_d_dLNR<VOfe\`gO]hKR
[]RUijIkMd[]RUL:RUVOSlm`ben[oOShkRpTkR<qn[QR<R
e\`srejtUO]en[oe\`vuChKMd_Penl]e\WKhw
MPVxOShKRyz[SY\TKIKY{OSRpHt|hkeen_}e{`v~D[QOSlY\VkT>HtUMdRUVKt<RUl
€6ƒ‚…„‡†
?@ˆŠ‰
„Œ‹ ˆŽ4’‘xˆg“-”
•\–n–n—
0
!"
t •\–n–n—
"!#$
# $
%&(' ) $*$+-,*./
!"
0
1 !23!"*2
kh R VIKLJRU[
Y\VKT{Y\[QMdRUO w.e\` enVK_PMdVKR:VKR l lQenIK[]tUR<l
L:Y\RUl
MPOTKMNt<Ik_PO*`ben[WRUenWK_PR
OSe"O][SY\t.O]hKRXVKR l tUenVKt<RU[]VKMPVKqRnRUVY"l]MPVKqn_PR R\R<VO
R<TKIKVkTZY\VKt w tFY\IKlQR<lNl]IKt|h…OS[]Y\t
MdVkq2O]e JaRXR jOS[QR<LNR<_ w$OSMPL:R t<e\VKl]IKLNMdVkq L*IK_ OSMPWK_dR:VKR l `bR<RUTKl enV0O]hKR&l]Y\LNR RnRUVONOSRUVKT
OSe t<enVO|Y{MdV.lQMdLNMd_dY\[zMdVk`be\[]L:Y{OSMPenV x~ lQIKLNL Y\[ w2e\` l]Ikt|h0VKR l`bRUR<TKl
t<Y\V$WK[QR<lQR<VO
MdLNWaen[
O|Y{VO MPVk`ben[QL Y{O]MdenV:MdVxenVkRzl]hKen[ OmOSR O ZTK[SY{L Y{O]Mdt<Y\_d_ w
[]RUTKIKt<MPVKq []R<Y\TKMdVkq O]MdLNR hKRz`betUIKlme\`
OShkMdloOShkR<l]MPl Md
l !#"$%& '(*)& +KY
O]R<t|hKVkMdiIK,
R hKMdt|-h ZqnM \R<V L*IK_PO]MdWK_PR8TKejt<IkL:RUVO]l ZMPTKR<.V OSM cZR<lN[]RUTKIKVKTKY\VO MPVk`ben[]L:Y{O]MdenV Y\VkT l wVO]hKR<lQ0M /<RUlxY2t<enhKRU[]RUVO l]IKLNL:Y\[Qw hKMPlNO]R<t|hKVKMPiIKR
Mdl
RUL*JaeTKMPR<T Md2
V 1&Ik_POSM^y RUV Y"lQwjlQO]R<LOShZY 4
O 3hZY nR TKRUl]Mdq\VKR<T MdLNWK_dRUL:RUVOSR<T Y{VKT R {Y\_d.I Y{O]R<T$5e nRU[OShkR t<e\IK[]lQR e\`mLw uCh 6
r 87VK_dM \R:WK[]R MPenIK9
l fen:[ MPV O]hKR Y\[QRF;Y <1&IK_ OSM yzR<V MdlY
TKenL:Y\MP.V MPVKTKR<WaR<VkTKR<VOplQwjlQO]R<=
L *MPOpqnRUVKR<[]Y{OSRUlVKR llQIKL:L:Y\[QMdR<l enV.=
Y {Y\[QMdRUO w2e{`fOSe\WKMdtUlMPV
Y\Vw"TKe\L Y\MPV ~8VKe{OShKRU[ptUenVOS[QMdJKIkO]MdenV>O]e OShKR l O|Y{O]R
e\` O]hKR Y\[ OzMdlO]hZY{OzOShkR
lQwjlQO]R<L qnRUVKR<>[ Y{O]R<lmOShKRzlQIKLNL Y\[ w Jwx[QR<IKlQMdVKqNY\VkT&Y{_POSRU[]MPVKq
WKhK[]Y\l]RUl `b[QenL@O]hKRzMdVkWKIkOY\[ OSMdtU_dRUl ktU[]R<Y{OSMPVKq Y
LNen[]RKIKR<VOY\VKTXtUenhKR<lQM\R O]RjO
hkMdlmMdlfMdVxt<e\VO][SY\l O MPO]hxe\OShKRU[oRMPlQOSMPVKq
lQwjl OSR<LNl hkMdt|h
l]MPL:Wk_Pw R jOS[SY{tUODl]R<VO]R<VKtUR<l`b[]e\L MdVKWkIkODY\[QO]Mdt<_PR<lY\VKT&t<enVktFY{O]R<VZY{O]RpO]hKR<L O]enqnR OShKRU[a_dRFY{TKMdVKq
OSeZIkR<VKt w:Wk[]enJK_PR<LNl fIK[][QR<VOS_ #
w 1&IK_ OSM yzR<V enWaR<[]Y{OSRUl Y\l WZY\[QO e{`fen_PIKL*JKMdY lDR lQJK_^Y{lQOSRU[
lQwjl OSR<=
L <
nR<[ wjTZYFw DR l]JK_dY\lQO]R<[mTK5e VK_PeY\TKloY\_d_ VKR l Y\[QO]Mdt<_PR<l `b[]enL@Y {Y\[QMdRUO wNe\`ŠlQenIK[Qt<R<l
t<_PIKlQO]R<[Ql Y\[QO]Mdt<_PR<lDJw&OSenWkMdt ŽY\VKT"qnRUVKR<[]Y{OSRUl Y t<enhKRUl]M nR Š[QRFY\TZY{JK_dR
Y{IkOSenL:Y{O]Mdtpl]IKLNL Y{[Qw e\`
RFY{t|h&TKejt<IkL:RUVOtU_dIKl OSR<[
VK'
R \RUw t|hZY\_P_dR<VkqnRMPV>L*IK_ OSMPTKetUIKLNR<VOl]IKLNL Y{[]0M /<Y{OSMPenVXMdlDR<_dMPL:MPVZY{O]MdVKq
[QR<TKIKVkTZY\VO
MdV`ben[]L:Y{OSMPenV MdVNOShKRWk[]ejTKIKt<RUTxl]IKLNL:Y\[]MPR<l g~8[ OSMdtU_dRUloY\JaenIkO OShKRDlSY\LNR8R nR<VO e\` O]R<V tUenVO|Y\MPV
TKRUl]t<[QMdWkO]MdenVklDe\`gOShKRplSY{L:Rz` Y\t O8IKlQMdVKqNTKM RU[]R<VO fe\[]TKMPVKq e Y{TKTK[]RUl]lOShKMPlMPl]lQIKR + RVKRUR<T
Y LNRUOShkeT>O]e MPTKR<VO]MP` w WZY\[]Y\WKhK[]Y\l]RUl `b[SY\qnLNR<VO]lze\` OSR jOzO]hZY{OztUenV nRUw2lQMdLNMd_dY\[ L:R<Y\VKMdVkq
R \R<V:MP` OShKR w Y\[QRVke\O MdTKRUVOSMdt<Y\_kMPV fen[QTKMdVkq v~DIkOSenL:Y{O]MdtoMPTKR<VOSM cZtFY OSMde\V
e\` WKY\[SY\WkhK[SY\lQR<l fY\l
VKe\O Y\TkTK[]RUl]l]RUT MPVNWk[]R jMPenIKl []RUl]RFY{[]t|h Y\_PO]hKenIKq\hNM O MdlCVKRUt<RUl]lSY{[Qw `ben[CL:Y\Vw Y\WKWK_PMdt<Y{OSMPenVKl {Md.V t<_PIKTKMPVKq*iIKR<l OSMPen.V Y{VK:l R<[QMdVKq kMdVk`ben[QL Y OSMde\V:R O][SY\t OSMPenVXY\VKTxVZY OSIK[]Y\_ _dY\VKqnIZY{qnR8qnRUVKR<[]Y{OSMPenV hKMPlpO]hKR<lQMdlpWK[]RUl]R<VO]l*IKVKlQIKWRU:[ jMdlQR<T0_PRFY\[QVKMdVKqxO]R<t|hKVKMPiIKR<lpOSe MPTKR<VO]MP` w"WZY{[SY\WKhk[SY\lQR<lq\M nRUV
YXt<en[QWKIKl e\`oLIK_PO]MdWK_PRWZY\[]Y\_d_PR<_ OSR jO]l hkMdlzO wjWR e\`ft<en[QWKIKl WK[]5e jMdTkR<lpL Y\Vw"MPVKlQOSY\VKtUR<l e\`
WZY\[]Y\WKhK[]Y\l]MPVKq sJaR<t<Y\IKlQR OShKRUl]R OSR jOSl
WK[QR<l]RU:[ \RXO]hKR LNRFY\VkMdVKq&e\`mOShKR en[]MPqnMdVZY{_ lQenIK[Qt<R JKIO
L:Y w IKlQRTkMR<[]RUVO fe\[]TKlxOSe0tUenV nR wOShKR"LNRFY{VKMdVK;q e\OShO]hKR"TZY{OSY0Y\VKTOShKR"LNRUO]hKejT
Y\[QR>TKR<WKY\[QO]IK[]RUl `b[]enL WZY\l OXY\WKWk[]eY\t|hkR<l OSe0tUen[]WkIKl JZY\lQR<TOSRUt|hKVKMPijIkR<l IK[ R \Y{_dIZY{O]MdenV
R WaR<[QMdLNR<VOSl*lQhK5e @O]hZY{OOShKRxY{_dqnen[QMPO]hKL R jOS[]Y\tUO]l*WZY\[]Y\WKhK[]Y\l]RU6l MPO]h$hKMdq\h0Y\t<tUIK[SY{tUw0Y{VKT
l]MPqnVKM cZtFY\VO]_Pw&enIkOSWaR<[ `ben[]LNlzYxlQOSY{OSR
e{` O]hKR Y\[QOpY{_dqnen[QMPO]hKL TKR \R<_de\WRUT`ben[8[]R<_dY{OSRUT"O|Y\:l jl MPV
L:Y\t|hKMdVkROS[SY{VKl]_dY{OSMPenV
!"
$&%('*)+
-/.!021 +34)+576 1 !
8:9 %<;=>?A@ B 1 >!25= . > 1
C C 1&IK_ OSM yzR<V 9
9
9
9
9
9
9
9
C C C ~DVZY\_ wlQMdl fenLNWaenVKR<VOfHjMdL cZVKTKRU[
C C • F IKlQMdenV fenLNWaenVKR<VO 9
9
9
9
C C — 1 IK_PO]M yzR<VXY\VKT DR l]JK_dY\lQO]R<[=
9
C • fenVOS[QMdJKIkO]MdenVkl 9
9
9
9
9
9
9
C — y IkMdTKRO]e R<L:Y\MPVKMdVKq fhZY\WkO]R<[]l 9
9
8:9 %<;=>?JI KL%<M%<; 9 !%NO+
• C uvY\[]Y\WKhK[]Y\l]RUl hKR oY\lQMdt<l 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
• • hKR 8Y{O]IK[]R e\`vuvY{[SY\WKhk[SY\lQMdVKq:H.Md_P_dl#
9
9
9
9
• — Q Y\t e\`vY F e\[]L:Y\_ 1&ejTKRU_ 9
9
9
• R uvY\[]Y\WKhK[]Y\l]MPVKq MdV Q MdVKq\IKMdl OSMdt hKR<e\[]MdRUl2
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
M
#
,
,
@
D
E
G
H
C–
C—
@+P
CG
•"C
•SR
•D
R C ~oO]enLNMdtzugY\[SY\WkhK[SY\lQR<l 9
9
9
9
9
9
9
9
9
• R • fe\L:Waenl]M OSMPenVZY\_uvY\[]Y\WKhK[]Y\l]RUl 9
e5f Y\[]TklD~DIkOSenL:Y{O]Mdt3 TKRUVOSMPcKtFY{O]MdenVXe\`
•
uvY\[]Y\WKhK[]Y\l]RUl 9
9
9
9
9
9
9
9
9
9
9
• D CL:WKMP[]MPtFY\_ HjOSIkTKMdRUle{`sugY\[SY\WkhK[SY\lQMdVKq:uChKR<VkenL:RUVZY 9
hkR fe\[]WKIKl 9
9
9
9
9
9
9
9
9
• D;
C
hkRuC[QetUR<TKIK[QRp`be\[ uvY\[]Y\WKhK[]Y\l]R 8 O][SY\t OSMPenV • D;
•
hkRp~DVZY\_ wlQMdl e\` 8 O][SY\t OSRUT>uvY{[SY\WKhk[SY\lQR<l 9
• D;
—
• D;
R rMPl]tUIKl]lQMdenV 9
9
9
9
9
9
9
9
9
•
•
n— –
9
9
9
9
9
9
9
9
9
9
9
9
—
E
9
9
9
9
9
9
9
9
9
9
9
9
8:9 %<;=>? 8 6 ;*>%"! 1 %N) 25+) KL%(!%(; 9 !%N 1 — C 3 VOS[]ejTKIKt OSMPenV 9
9
9
9
9
9
9
9
9
9
9
— •
— —
—
R
—
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
RU_^Y{O]R<T en[ e\V&ugY\[SY{WKhK[SY{l]MdVkq 9
9
9
9
9
9
9
9
— • C 1&Y\VIZY\_ fen_P_dR<t OSMPenVxe\`vuvY\[]Y\WKhK[]Y\l]RUl 9
9
9
9
9
9
— • • rRU[]M MPVKq uvY{[SY\WKhk[SY\lQR<l OShK[QenIKqnh 8MdlQO]MdVKq Q R MPtFY\_
R<lQenIK[Qt<R<l 9
9
9
9
9
9
9
9
9
9
9
9
— • — fe\[]WKIKl> JZY{l]R<T 8O][SY\t OSMPenVXe\`sugY\[SY{WKhK[SY{l]R<l 9
9
9
hKRprzY{O|Y 9
9
9
9
9
9
9
9
9
9
9
9
9
9
1&RUO]hKejT `ben[ ugY\[SY{WKhK[SY{l]R 8 O][SY\t OSMPenV 9
9
9
9
9
9
9
— R C F R<Y{OSIK[QR 8 O][SY\t OSMPenV 9
9
9
9
9
9
9
9
9
9
hkRptUe O][SY\MPVKMdVkq Y\_dqne\[]MPO]hKL 9
9
9
9
9
9
9
— R •
<\ Y{_dIZY{O]MdenV2
9
9
9
9
9
9
9
9
9
9
9
9
9
9
hkR fe\[]Waen[SY 9
9
9
9
9
9
9
9
9
9
9
— .
C
— .
• uC[QR<WK[QetUR<l]lQMdVKq 9
9
9
9
9
9
9
9
9
9
9
— .
— ugY\[SY{L:R OSR<[ Cl OSMdL:Y{O]MdenV 9
9
9
9
9
9
9
9
MPM
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
E
H
—
H
(R C
—
R—
RG
P2@
C
D
D
D
DR
G
DE
DH
E–
ED
EE
G–
GC
—
—
D
.
R <R lQIK_PO]l
9
9
fenVKtU_dIKlQMdenVKl Y{VKT kI O]IK[]R
9
9
9
9
9
9
9
9
9
9
9
9
9
9
en[ 9
9
9
9
9
9
9
9
9
9
9
F
1 > *1 . = = 1 *) !5= . *6 1 =66 %(M %<! 1
8:9 %<;=>?
R C 1&IK_ OSM yzR<V 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
R C C 1 IK_PO]M yzR<Vx~8[Qt|hKMPO]R<t OSIK[QR 9
9
9
9
9
9
9
9
9
9
9
R C • ~DVZY\_ wlQMdl fenLNWaenVKR<VOfHjMdL cZVKTKRU[ 9
9
9
9
9
9
9
9
9
R C — F Md_PO]R<[QMdVKq 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
R C R 3 V`ben[]L:Y{OSMPenV F IKlQMdenV 9
9
9
9
9
9
9
9
9
9
9
9
9
R • HR<VO]R<VKtUR F IKlQMdenV 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
R — RU_^Y{O]R<T en[ 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
R R HR<VO]R<VKtUR F IKlQMdenVX~8_Pqnen[QMPOShkL 9
9
9
9
9
9
9
9
9
9
9
9
9
R R C 3 TkR<VOSM cZtFY{O]MdenVXe\`gt<e\L:LNenVxMdV`ben[]L:Y{OSMPenV 9
9
9
9
9
9
9
R R • F IKlQMdenV []RUR fe\L:WKIO|Y{O]MdenV 9
9
9
9
9
9
9
9
9
9
R R — yzR<VkR<[SY OSMde\V 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
R HR<VO]R<VKtUR F IKlQMdenV <{Y\_dIZY OSMde\V 9
9
9
9
9
9
9
9
9
9
9
9
R D fenVKtU_dIKlQMdenVKl Y{VKT F IkO]IK[]R en[ 9
9
9
9
9
9
9
9
9
9
9
8:9 %<;=>? P >!%< + +: 1 > 1=. M5?S 1 1 = ) ! / . =6 1 *6
6 %(M %<! 1
.
C 3 VOS[]ejTKIKt OSMPenV 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
.
• 3 L:WKY\tUO e\`[]TKRU[]MPVKq enVxOShKR nRU[SY\_P_ zIKY\_dM O w e\`vYNHIKLNL Y{[Qw .
— 8Y\M n R []TkR<[]MPVKq ~8_Pqnen[]M OShKLNlf~D[]R De{OHjI;Nt<MdRUVO 9
9
9
9
.
— C 1&Y Qen[]M O w []TkR<[]MPVKq 9
9
9
9
9
9
9
9
9
9
.
— • fhk[]enVKe\_denqnMPtFY\_ []TKRU[]MdVkq 9
9
9
9
9
9
9
9
MPMdM
9
9
9
9
9
9
9
9
9
9
9
9
G—
HD
HH
C –n•
C –n•
C –SR
C –SR
C–
C–E
C–H
C FC –
CCD
CCH
C •\•
C•D
@"I
C•H
C —n•
C—
C—D
C R•
.
R 3 L:Wk[]e5jMdVKq*O]hKR z[QTKR<[QMdVKq;
8k WaR<[QMdLNR<VOSlY\VkT&~DVZY\_PwjlQMdl 9
9
9
9
9
9
9
.
R C fe\_d_dRUtUO]MdVKq Y
t<e\[]WKIKl e\`gL*IK_ OSMPWK_dRDen[]TKRU[]MPVKqnl .
R • ~DVZY\_ wlQMdl 9
9
9
9
9
9
9
9
9
.
hKR ~8IKq\L:RUVO]R<T ~8_Pqnen[]M OShKL 9
9
9
9
9
9
9
.
.
C hkRp~D_dqne\[]MPO]hKL 9
9
9
9
9
9
9
9
.
.
• <{ Y\_PIZY{OSMPenV
9
9
9
9
9
9
9
9
9
.
D  RU_^Y{O]R<T en[ 9
9
9
9
9
9
9
9
9
9
.
E fenVKtU_dIKlQMdenVKl Y{VKT F IkO]IK[]R en[ 9
9
9
9
9
8:9 %<;=>? #?!%N)) #<%N)%<! 1
;D C HIKLNL Y{[]M0/<Y{OSMPenV <{Y\_PIZY{OSMPenV=1&R OShKejTKl 9
9
9
D;
• r,7 <\Y{_dIZY{O]MdenV 9
9
9
9
9
9
9
9
;D • C r,7 <{Y\_PIZY{OSMPenV oY\tqn[QenIKVKT 9
9
D;
• • IK[m[QR<lQIK_PO]l 9
9
9
9
9
9
9
9
D;
• — 3 lQl]IKRUl M OShxOShKRpr,7 <{Y\_dIKY{OSMPenV 9
9
;D — DR l]JK_dY\lQO]R<[ <\Y{_dIZY{O]MdenV 9
9
9
9
9
9
9
;D — C R lQJK_^Y\l OSRU[
<{Y\_dIKY{OSMPenV oY\tqn[QenIKVKT=
9
;D — • 7lSY\JkMd_dM O w <{Y\_PIZY{OSMPenV 9
9
9
9
9
D;
— — rMP[]RUtUODHIKLNL:Y\[Qw <\Y{_dIZY{O]MdenV 9
9
9
;D R rMdlQt<IKlQl]Mde\V 9
9
9
9
9
9
9
9
9
9
8:9 %<;=>? 8 1*. )= 1 % 1 5 2!M 0
.E C HIKLNL Y{[Qw:e\` 1&Y\MdV fenVOS[QMdJKIOSMde\VKl 9
9
9
9
.E • Q MdLNMPO|Y OSMde\VKlfY{VKT F IkO]IK[]R en[: 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
M
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
CRD
CRD
CRH
C
–
C
—
C
–
CR
CE
@
CD–
CD•
CD•
CDR
CDG
CDH
CE–
CE•
CE•
CER
@
(P
CE
C ESG
- ;=; 1 5= , - B 1 ; 2 ,2%N6; )
~'
C HRUOe\`8 R<_^Y OSR<TX~D[QOSMPt<_PR<l
~'
•
hKR<LNR<l
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
@
CG—
CGD
C C
C •
C —
C R
8
O][SY\t OSlm`b[]e\L 8R<[]tUMdlQR<lMdV&HjO wj_dR 9
9
9
9
~3l]IKLNL:Y\[Qw e\`gO]hK[]RURY{[QOSMPt<_PR<loWK[QeTkIKt<RUT Jw=1&IK_ OSM^y RUV
1&IK_ OSM yzR<VXY{[]t|hKM OSR<t OSIK[QR 9
9
9
9
9
9
9
9
~3t<en_P_dRUtUOSMPenVxe\`gl]MPL:MP_^Y\[ l]RUVO]R<VKtUR<
l bWZY\[ O e\`sY $!
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
C 8KY{L:WK_PR<lme\`gWZY\[]Y\WKhK[]Y\l]RUl 9
9
9
9
9
9
9
9
9
9
9
9
9
• •  RUWK[]RUl]RUVOSY{OSMPenVX`ben[mt<enLNWaenl]M OSMde\VZY\_a[]IK_PR<l
9
9
9
9
9
9
9
9
9
• —  RUWK[]RUl]RUVOSY{OSMPenVX`ben[oOShKR JKIw l]R<_P_ŽOS[]Y\VKlQ`be\[]L:Y{OSMPenV
9
9
9
9
9
9
• R 8K Y{L:WK_PR<lme\`gl]RUVOSR<VO]M^Y\_ŠWZY\[]Y\WKhK[]Y\l]RUl 9
9
9
9
9
9
9
9
9
• uvY\[]Y\WKhK[]Y\l]RUlDq\R<VKRU[SY{O]R<T JwxO]hKR lSY\LNRz[]Ik_dR<lY\tUt<en[QTKMdVkq O]e8Y\[Q[]Mdl 9
9
9
9
9
9
9
9
9
9
9
• D  RUWK[]RUl]RUVOSY{OSM n R OS[]Y\VKlQ`be\[]L:Y{OSMPenV `b[]e\L 1
• E fenV n RU[]l]MPenV [QIK_dR 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
• G uvY\[]Y\WKhK[]Y\l]MPVKq WZY\MP[]lmJZY\lQR<T&enV )( ! [QR<_^Y OSMde\V 9
9
9
9
9
9
• H f e CVKqn_PMdlQhOS[SY{VKl]_dY{OSMPenVKlŽe\`O]hKR F []R<Vkt|hlQR<VOSRUVKt<R `b[]enL F _dY\IKJaR<[QO l
1 Y\TZY{L:R
fe5{ Y\[Qw 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
• C – f el]R<VO]R<VKtUR<l t<enV \ RUwjMdVKq*O]hKRl]Y\L:RMdV`ben[]L:Y{OSMPenV Rj OS[]Y\tUO]R<T `b[QenL OShKR8~u
Y\VKT= R<IkO]R<[]lDY\[ OSMdtU_dRUl 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
D
E
G
CH
•
•\–
"C
—<C
•
—n—
jM
•
—
D
—
D
—
—
H
R(C
C C
"!$#"%&')(#"#"(
*#+-,.#'-/0%1
)'-(*+
(#"2#3334#*35#"* 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
• C • wjWaRTkMdlQO][]MPJKIkOSMPenV e\` G G
t<enLNWaenl]M OSMde\VZY\_aWZY\[SY{WKhK[SY{l]R<l R O][SY\t OSRUT&`b[]e\L OShKR
t<en[QWKIKl e\`gWZY\[]Y\_d_PR<_O][SY\Vkl]_^Y OSMde\VKl 9
9
9
9
9
9
9
9
9
9
9
• C — Q R<VKq\O]hxTKMdl OS[QMdJKIkO]MdenVNe\`*G R Y OSenLNMdtWZY\[]Y\WKhK[]Y\l]RUloRj OS[]Y\tUO]R<Tx`b[]e\L O]hKRVKR l
t<en[QWKIKl 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
• C R wjWaRTkMdlQO][]MPJKIkOSMPenV e\` E C t<enLNWaenl]M OSMde\VZY\_aWZY\[SY{WKhK[SY{l]R<l R O][SY\t OSRUT&`b[]e\L OShKR
VKR lt<e\[]WKIKl 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
•
C
CVKqn_PMdlQh OS[SY{VKl]_dY{OSMPenVKlfe{` O]hKR IKl]lQM^Y\VxlQR<VOSRUVKt<R `b[]enL en_dl OSe w l
hkR
6 []R<IO /<RU[DHenVZY{OSY 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
— • [SY\qnLNR<VO]lme\`sY{_dMdq\VKR<TxlQR<VOSRUVKt<RUl,
9
9
9
9
9
9
9
9
9
9
9
l 9
9
9
9
9
9
9
9
9
9
9
— — [SY\qnLNR<VO]lme\`sY{_dMdq\VKR<TxlQR<VOSRUVKt<RU,
— 8KY{L:WK_PRze\`gt<enVOSR jO8[QIK_dRUlmR jOS[]Y\tUO]R<T JwxO]hKRpY\_dqne\[]MPO]hKL=
9
9
9
9
— 1&en[QWKhKe HjwjVOSY\tUO]MdtpWZY{OQOSR<[QVKlR jOS[]Y\tUO]R<T>JwxOShkRY\_Pqnen[QMPOShkL e5fRU[DMPVKTKMPt<R<l
TKR<Vke\OSRzOSe \R<V&R<iIKM \Y{_dR<Vkt<R ZIkWKWRU[ MdVKTKMPt<RUlmTKR<VKe{OSR []eje\O R<iIKM {Y\_dRUVKt<R #
9
9
R Mdt<Y\_fWZY{[SY\WKhk[SY\lQR<l
R jO][SY\t OSR<T…Jw.O]hKRXY\_dq\en[]M OShKL `b[QenL O]hKR OS[]Y\VKlQ_^Y{O]MdenV
—
t<en[QWKIKl 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
R Mdt<Y\_ŽWZY\[]Y\WKhK[]Y\l]RUlDR jOS[SY{tUOSRUT Jw O]hKRpY\_dqne\[]MPO]hKL `b[]enL OShKR VKR lDtUen[]WKIkl —
— .e\[]TXTKMdl OS[QMdJKIkO]MdenVxMPVxOShKRzOS[]Y\VKlQ_^Y{O]MdenV tUen[]WkIKl6
9
9
9
9
9
9
9
9
— .e\[]TXTKMdl OS[QMdJKIkO]MdenVxMPVxOShKR VKR lDtUen[]WKIkl 9
9
9
9
9
9
9
9
9
— – uvY\MP[me\`vY\_dMPqnVKR<TxlQR<VOSRUVKt<RUlY{` O]R<[ WK[QR<WK[QetUR<l]lQMdVKq 9
9
9
9
9
9
9
— ClQOSMPL Y OSR<T ugY\[SY\LNRUO]R<8[ 7 Y\_PIKR<l 9
9
9
9
9
9
9
9
9
9
9
9
V hkMdt|h fe\[]TKl :9 Y\VKT :; "<.= zY{[]Rml]IkJKlQO]MPOSIO|Y\JK_PR
— • 8
KY{L:WK_PRoe\`al]RUVOSR<Vkt<R<l Md6
—
RR
R
RE
RG
fe
F
F
R
Q
—
DE
DG
E•
E—
D Q
G
E Q
H
C
CC
C
MPM
ER
E
EG
G–
GC
G—
GD
C
— — 8
KY{L:WK_PR8e\` lQR<VOSRUVO]M^Y\_ t<enVOSRjOSl WK[]RUl]RUVO]R<T OSe
Y QIKTkqnR`ben[fR{Y\_dIZY OSMdVkqOShKR
WZY\MP[
:9 :Y{VKT ; "<.= 9
9
9
9
9
9
9
9
9
9
9
9
9
9
— R OS[QMdR {Y\_[SY OSR&`be\[ Y\VKt|hken[]l e\VTKMR<[QR<VO `b[QR<iIKR<VktUw_PRnRU_ bWKl]RUIKTKe &fen[QT
R WaR<[]MPL:RUVOSl 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
— ugRU[Q`ben[QL Y\Vkt<R enVxOShKR TKM RU[]RUVO_PR nRU_dl e\`vY\VKt|hKe\[TkR<VKlQMPO w
9
9
9
9
R Mdt<Y\_ŽWZY\[]Y\WKhK[]Y\l]RUlDR jOS[SY{tUOSRUT Jw O]hKRpY\_dqne\[]MPO]hK=L 9
9
9
9
9
9
—
— 1&en[QWKhKe HjwjVOSY\tUO]MdtpWZY{OQOSR<[QVKlR jOS[]Y\tUO]R<T>JwxOShkRY\_Pqnen[QMPOShkL 5e fRU[DMPVKTKMPt<R<l
TKR<Vke\OSRzOSe \R<V&R<iIKM \Y{_dR<Vkt<R ZIkWKWRU[ MdVKTKMPt<RUlmTKR<VKe{OSR []eje\O R<iIKM {Y\_dRUVKt<R #
9
9
CR
GE
C
CD Q
CE
R C
Q
HC
HC
H
HG
1&IK_ OSM yzR<Vx~D[]t|hKM OSRUtUOSIk[]R 9
9
9
9
9
9
9
9
9
9
9
9
9
9
C –n•
R • ( /
'-( **5 * *'- 9
9
9
9
9
9
C –\—
R — rR<WaR<VKTkR<VKt wxOS[]RURze\` OShKR l]RUVOSR<Vkt<R 2) + ) 9 !#" < < - $ ! $ 0
) (.$<)" <4$ ".; )$%+%";) < " "+$% $ "4! 0)) ; ,"$ "(; ;
< ' $ ,)$ 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
C C •
R R f eNTKRUWRUVKTKR<VktUwXOS[QR<R<lDY\VKTXOShkR<Md[ Y{_dMdq\VKL:RUVOfOS[QR<R 9
9
9
9
9
9
C C
R ~3JZY\lQMdlmOS[QR<R JR `ben[]RpY\VkT&Y ` OSR<[mO]hKRpY\IKqnLNR<VO|Y OSMde\V 9
9
9
9
9
9
9
C C G
R D uC[]IKVKRUT&JKY\l]MPl O][]RUR 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
C C H
R E ~8_ OSR<[QVZY{O]Mn R2_PMdVKR<Y\[]MF/ Y{O]MdenVKl e\`O]hKR`bIkl]Mde\V O][]R<R MPO]h O]hKRt<en[Q[]R<lQWe\VKTKMdVkq
R<VOS[QenWw { Y\_dIKRUl 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
C •+C
R G -,#% (3 !#" %% $* (
9
9
9
9
9
9
9
9
9
9
C •MR
R H 8K Y{L:WK_PR<lo`b[QenL OShkR O]R<l ODlQRUO
9
9
9
9
9
9
9
9
9
9
9
9
C •
R C – <\ Y{_dIZY{O]MdenVx[QR<lQIK_PO]l`ben[ hIKL:Y\V tU[SY{` O]R<T `bIKl]MPenV&lQR<VOSRUVKt<R enIk[l wjlQOSRUL6e\IkO:
WKIkO O]hKR lQhKen[QO]R<l O*l]RUVOSR<Vkt<R MPVO]hKRNO]hKR<LNR JZY\lQR<_PMdVKR C Y\VKT.Y lQMdLNWK_dM cZR<T
n RU[]l]MPenV e\`ve\IK[ Y\_dq\en[]M OShKL MPO]hKenIkO WZY{[SY\WKhk[SY\lQMdVKq MdV`ben[]L:Y{OSMPenV bJZY\lQR<_dMPVKR • C • D
R C C 8K Y{L:WK_PR<lme\`gLNMdlQOSY\ RUl MdVXqnR<VkR<[SY OSR<T l]RUVOSR<Vkt<R<l
9
9
9
9
9
9
9
C • D
jMdMPM
(# *'-)
*'
' # 8033! '-%&(4 9
9
9
9
9
C • E
% (#'- 2 '-% (*
**/ *% %&#"
9
9
9
C —
.
• * (*4
*% 2 #* '-( ** (*'-*'- 2#"(
* *'- (#" % 5/
(+2 9
9
9
C — E
.
— *%&%&#" ! (* **'-$* # !8 *)#3
*% "# # . C — H
.
R %&%&#" !$(* **'-& *
# ! * #32
*% # # CF— H
.
8* (43 2 *% %&#" ! 2# # . 9
9
9
C R<C
.
D %& '-( **5 *'-
* % )
% 8 * ** 35 #"23 (*3' #" %& '-
9
9
9
9
C Rn—
.
E %&%&#" ! (* **'- *3' #3 8 * #3
*% #
# 8 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
C R R
.
G %&%&#" ! (* **'- *3' #3 8 * #3
*% #
# . 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
C R R
.
H *3(3 * * '-33'- !#"
$&% # 0
*'-
') 3*#" #%&#"' #33 ! * $3.)' (. 9
9
9
9
C R G
.
C – ( -,. +*,-./ #"$*%&%&#"21 0 ! 2 3' #+3 2 4 365+*.7 !
* )*% #3
*8
% 3659-:7 9
9
9
9
9
9
9
9
9
9
9
C C
.
C C ~@lQIKLNL Y\[ w2WK[]ejTKIKtUR<T0IKlQMdVKq OShKR:~8IKq\L:RUVO]R<T0Y{_dqnen[QMPO]hKL  RU_^Y{O]R<T.lQR<V.
OSRUVKt<RUl8Y\[QRzqn[]e\IKWRUT&MPVOSe WZY\[]Y\qn[SY{WKhKl
,
9
9
9
9
9
9
9
9
9
9
C —
.
C •<;= #3#" &
> # !? 2@ 3' #A3 * #*
% B 8 * 9
9
9
9
9
9
9
9
9
9
9
9
9
C R
R C •
.
C
M
D;
C
* <\Y{_dIZY{O]MdenVxlQt<en[QR<lDenV RO][SY\t OSl `ben[mOShKR OSe\W c\Rl wl OSRUL:l Y\tU[]enlQl8Y{_d_}l]IkL4
L Y{[Qw"lQ0M /<RUl Hjwjl OSR<LNl_PMdl OSR<TMdVen[QTKR<[pe\`ol wjlQOSRUL’tUeTkR M OSh fen_dIKLJKM^Y l
l]tUen[]RUloMdV:Jen_PT Y\V lolQhK5e VxMdV WKY\[]RUVO]hKR<lQR<lY\LNenVKqY\_d_ – lQwjlQO]R<LNlml]IKJ.
L:M O]O]MdVKq*R jOS[SY{tUOSl 9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
<
\Y{_dIZY{O]MdenV0lQt<en[QR<lNenV…R jOS[]Y\tUO]lN`ben[
O]hKRxOSenW c nR lQwjl OSR<LNl fenV •{–n– en[QT
l]IKLNL:Y\[]MPR<l HjwjlQO]R<LNl_PMdlQO]R<TMdVen[]TkR<[pe\`ol wl OSRUL’tUeTKR M OSh fen_dIKLJKM^Y l
l]tUen[]RUl&MPV Jaen_PT DY\;V jl l]hke V MdV WZY\[QR<VOShKRUl]RUl>Y\LNenVKq…Y\_P_ – lQwjlQO]R<LNl
l]IKJkL:M O]OSMPVKq*R O][SY\t OSl 9
9
9
9
9
9
9
9
9
9
9
9
9
9
<
\Y{_dIZY{O]MdenV0lQt<en[QR<lNenV…R jOS[]Y\tUO]lN`ben[
O]hKRxOSenW c nR lQwjl OSR<LNl fenV n–n– en[QT
l]IKLNL:Y\[]MPR<l HjwjlQO]R<LNl_PMdlQO]R<TMdVen[]TkR<[pe\`ol wl OSRUL’tUeTKR M OSh fen_dIKLJKM^Y l
l]tUen[]RUl&MPV Jaen_PT DY\;V jl l]hke V MdV WZY\[QR<VOShKRUl]RUl>Y\LNenVKq…Y\_P_ – lQwjlQO]R<LNl
l]IKJkL:M O]OSMPVKq*R O][SY\t OSl 9
9
9
9
9
9
9
9
9
9
9
9
9
9
<
\Y{_dIZY{O]MdenV lQt<en[QR<loenV Y\JKl OS[SY{tUOSl `ben[COShKROSenWNc nRDlQwjlQO]R<LNl ZY{t<[]e\l]loY{_d_Zl]Ik4L L Y{[Qw l]0M /UR<l IKl]MPVKq _dRUVKq\OSh Y\T QIklQOSRUT L:R<Y\V t<5e nRU[SY\qnR @HjwjlQOSRUL:lX_PMdlQO]R<T MdV
en[]TkR<[oe\`Šl wjlQOSRUL tUeTKR ; MPO]h fen_PIKL*JKMdY l l]tUen[]RUlmMdV Jaen_d-T DY{V lol]hK5e VXMdV
WZY\[QR<VOShKRUl]RUlY\LNenVKq Y\_P_ lQwjlQO]R<LNlDlQIKJKLNMPOQOSMdVkq Y\JKlQO][SY\t OSl 9
9
9
9
C
D;
•
C
D;
—
R
C
D;
R
2G
CD
CD
CDD
CDD
D;
D;
D
<\Y{_dIZY{O]MdenV lQt<en[QR<loenV Y\JKl OS[SY{tUOSl `ben[COShKROSenWNcnRDlQwjlQO]R<LNlZY{t<[]e\l]loY{_d_Zl]IkL4
L Y{[Qw
lQ0M /<RUlfIKlQMdVKqIKVKLNeTkMPcZRUT:LNRFY\VNt<e5\R<[SY{qnR
HjwjlQO]R<LNlf_PMdlQO]R<TNMdV:en[]TKRU[ e{`
lQwjlQO]R<L tUeTkR - M OSh fen_PIKL*JKMdY lDl]tUen[]RUlzMdV"Jaen_dT
Y\VllQhKe5 V MPV>WZY\[QR<V.
OShKRUl]RUl8Y\LNenVKq Y{_d_ lQwjl OSR<LNll]IKJKLNMPOQOSMPVKq Y\JKl OS[SY{tUOSl +
9
9
9
9
9
9
7DlQR<[ lSY{O]Mdl ` Y\tUO]MdenVxiIKRUlQOSMPenVKVZY{Md[]RpY\VkT&Y{VK:l R<[TKMdl OS[QMdJKIkO]MdenVkl 9
9
9
2G
M
CDE
CE—
F MP[]lQO 3
* fenIk_dT_PM0\R
SO e.O]hZY\V…LwY\T;jMdlQen[ 6 Y{O]hw 1&t 6 R<e5 V$lQhKR fY\lXY.[]e\_dR LNejTKR<_
MdVL:Y\Vw2Y\l]WaR<t OSlY\VKThZY\T.Wk[]R<WKY\[]RUT.LNR `be\[Y{tFY\TKRUL:MPt
_dM `bR
6 Y{OShwY\_ oYFwjlRUVKt<e\IK[SY\q\R<T
LNR:OSe _deje2Y{OO]hKR LNenlQOIKVKR kWaR<t OSRUT…TkMd[]RUtUO]MdenVKl CY\VKT Y{_ fY wjl*L:Y\TKRNLNR JaR<_dMPR\R OShZY O63
t<e\IK_dT>lQIKt<tUR<RUT
.e\[ MdVKq MPOSh&hKR<[ 3m_dR<Y\[]VkR<T O]hK'
R {Y\_dIkRe\` #
Y MPl]MPenV Y\VKT>WaR<[Ql]Mdl OSRUVKt<R
MPV
L:Y{OSRU[]M^Y{_dM0/UMdVKqpMPO hKY\V lXY\_dlQeO]e.Lw…tUenL:LNMPOQOSRUR LNR<LJRU[]l 1&Mdt|hZY{R<_fe\_d_dMPVKl \IK_PM^Y DMd[Ql]t|hJaR<[];q Md_P_dM^Y{V R<RpY\VKT HhK[QR<R 8YFwnY\[ Z`ben[m[QRFY\TKMPVKq
Lw O]hKR<lQMdlY\VKT WK[Qe jMPTKMdVK6
q {Y\_PIZY\JK_PR8`bR<RUTKJZY\t MP_d_dMdY\V R<RpO|Y\IKq\hODLNRpO]hKRJKY\l]MPt<l8e{`st<e\VKTKIKt OSMdVkq R<LNWKMP[]Mdt<Y\_}[]RUl]R<Y\[]t|h"Y{VKT>qn[QRFY{O]_Pw
MdV ZIKR<Vkt<R<T OShKMP4
l en:[ R<[NTKR<TKMPtFY{O]MdenV OSe[]RUl]R<Y\[]t|hhZY{l:MPVKl]WKMP[]RUT LNR hKY\V l:O]e.Lw
L:Y\lQO]R<[O]hKR<lQMdl
Y{;T jMdl]e\[ 1&MPt|hZY\RU_ C_dhKY\TZY\T hKe"MdVOS[QeTkIKt<RUT$L:RNOSe O]hKR Y{[]RFY&e\` VZY{O]IK[SY\_
_^Y{VKqnIZY\q\RWK[QetUR<lQl]MdVkq 3m5e R*Lw MdVKM OSMdY\_ŽMdVO]R<[]RUlQO8MdV&O]hKR
Y\[QRFY:O]e hKMPL aY\VkT>R \R<V"`b[]enL ` Y{[
Y oYFw -1 Mdt|hZY\RU_}[]RUL Y\MPVKl Y
TKRFY{[ `b[QMdRUVKT eRUL:MPR C_dhKY\TZY\T Y\VkT HjL Y\[]Y\VKTZ
Y 1&IK[]RUlSY\V hZY nR2JaR<RUV q\[]RFY Oxt<en_P_dR<Y\qnR<l Y\l R<_d_
Y\lDt<_de\l]R `b[]MdRUVKTKl hkRUw&hZY nR*[QRFY\T>LNenl O8e\`sLwxOShKRUl]MPlY\VKT WK[]5e jMdTKRUT>L:Y\VwXTKRUOSY\Md_PR<T>Y{VKT
t|hZY\_P_dRUVKqnMdVkqt<enLNLNR<VOSl hKR<MP[s`b[]MPR<VKTKlQhKMd-W jMPVKTKVKRUl]l Y\VKT lQIKWKWaen[QO L:Y\TKRmLwqn[SY\TkIZY{OSRm_PMP`bR
L*IKt|h hZY\WKWKMPR<[ 1 wXcZ[QlQO8e Nt<R<L:Y{O]R<l ŽHhKMPL:RUMgugY\V"Y\Vk
T nY\LNR<l8HhZY MPVO][]ejTKIKtUR<T>LNRpO]e
_dM `bRmMdV fen_dIkL*JKM^Y L Y\Vw MPTKRFY\l OShKY{Of_PR<T OSeLw*OShkR<l]MPl en[ e\[]Mdq\MdVZY{O]R<T MdVNenIK[ TKMPl]t<Ikl]l]MPenVKl Q
Q
Q
Q
kMPM
Q IKMdlCy
][ Y5{Y\Vke Y;
YzuC[]e{`bR<l]lQen[ y []Y\Y{VKe fY\l Y\V
MPL:LNR<VKlQRflQenIK[]tUR e\` Mdl]TkenL-Y{VKTNY\T;jMdtUR
enV>RnRU[Qw2Y\lQWRUtUOze{` Y\tFY\TkR<LNMdt_PMP`bRpY\VKT"LNen[QR
1 w `b[]MPR<VKTklfenhZYjMPO Y\JaenIKt|h2Y{VKTHkY\LNMd[
yzR<VZY\MPL R<[QR&WKIkVKMdlQhKR<T…Jw0hKRFY{[]MdVkqLIKt|h LNen[QRXY\Je\IkO u-[QR<l]R<Y\[]t|h…OShZY O
OShKR w RnRU[
fY\VOSR<T OS;e 3 l]WaR<VONL:Y\Vw `bIKV0hkenIK[]6l M OSh Y\RU_ DR O /UR<[ 1&MP[]R<_P_^Y Y{WZY{O|Y"Y{VKT…HMdLNenVKR
R<Ik`bRU_DO|Y{0_ MdVKqY\JaenIkO:[]RUl]R<Y\[]t|h Y\VKT e\OShkR<[ MPVOSR<[QR<l OSMdVkq OShkMdVKqnl DIKJKMPR fhkR<VMdl:Y \R<[ w
l]WaR<tUM^Y\_Š`b[]MPR<VK=
T hKenlQ'
R MPO8R<VK_PMdqnhOSRUVKR<T Lw 3 OShZY{tFY TZYFwjl 3 Y\WKWK[QR<t<MdY{OSRhKMdlDhKR<_PW MPV WK[Qee\` []R<Y\TKMPVKq
OShKMPloOSR jODY\VKT e\O]hKR<[Ql 3 fenIk_dT_P0M {RXO]eO]hZY\V $O]hKR WKY\lQO Y\VKT…WK[]RUl]RUVO L:RUL*JRU[]l e\`O]hKR fen_dIKLJKM^Y u
qn[QenIKW frIK[]MPVKq Lw wnR<Y\[]lDMdV fen_PIKL*JKMd;Y kOShkR uq\[]enIKWXOS[QMdWK_PR<TXMdV l]M /<,
R MPO]hKenIkO_PeenlQMdVKq
MPO]lx` Y\L:MP_PwY{OSLNenlQWKhKR<[QR DenMPlQwqn[QenIKW L:RURUOSMPVKqnl R<R {R<VKT_PIKVKt|hKRUl Y\VkT hKRUtUOSMPt2TKR<LNe
WK[QR<WZY\[]Y{OSMPenVKl tUenVKTKIktUOSRUT Jw 7 Y\l]MP_dR<MPenl DY{O /UM {Y\lQl]Md_Penqn_Pen
I MP_d_JR2Y$lQenIK[Qt<R2e\`pVKenl O|Y\_PqnMdt
LNenL:RUVOSlo`ben[ow\RFY\[QlO]eNtUenLNR
3 Y\L OShKY\V `bIK_ O]e e\JRU[QO fenVklQO|Y{JK_dR8`be\[fhKenl OSMPVKq
L:RDMdV fe\[]VKRU_d_ TkIK[]MPVKqO e w\RFY\[Ql
e\` Lw uChZ6
r 3R<V Qe wnRUTO]hKR
l]WkMd[]M Oe\` O]hKR
_dejtFY\_ u Y\VKT DIkWK[]_sq\[]enIKWkl ŠY\VKT"hKY\T2L Y\Vw
MdVkl]WKMP[]MdVkq&tUenV nR<[QlSY{O]MdenVk6
l MPOSh0HjOSIZY{[QO
~D_d_dRUV f_dY\Md[QR oY{[]TKMPR \IZY\VkMPO|Y DR wnR<[QL Y{V 6 _dY\[SY
6 R<TKRUL [QR<V 6 Ik[]_^Y{VKT 78MdVKtUR<VO Dq:Y\VKT feNuvY\Vkq 3 oY\VOOSeXOShZY\;V "Lw"` Y\LNMd_Pw `ben[zOShkR<Md[ _Pe \R Y{VKT lQIKWKWaen[QO vRUl]WaR<t<MdY\_d_ w>Lw2WKY\[]RUVO]l
~8_dY&Y{VK
T YnY \5e sLw2qn[]Y\VKTKLNe\OShkR<[y RUVw;Y CY{VKT.Lw2LNe\O]hKR<>[ MdV _^Y 1 Y /<Y\&_ zIk[t<Y{OSl yzR<[]lQhKenV&Y\VKT DRUhZY\L:Y hKY\T YNlQWRUt<M^Y{_Žt<enVO][]MdJkIkOSMPenVxOSe Lw R<_P_ JaR<MPVKq MdVZY\_P_Pw 3 enIK_PTx_d0M {R8OSe Y{t jVke _PR<TKq\RzLw hIKlQJZY\VK-T _P&M M OShKe\IkOohKMPloR<Vkt<enIK[]Y\qnR LNR<VO 3 enIK_PT&VKR nRU[DhZY \RJaR<qY{V ZY\VKT L*IKt|h _dRUl]l t<e\L:WK_PRUO]R<TxOShKMPlmOShKRUl]Mdl Q
Q
Q
Q
Q
F
MdMPM
e Y\_dM
C H E – C H H R Y\VkT
M
C_dM
C
$ 9 +$ = &)5 !$ ( ) < "
( ) <'"- $ ;" )) > $%:"!; 0)- $ "$ " ;" " < (.:")'$ 9)"! !#" $ "+ '$ (.$%$ ;) 0) "$ 3 V IKRUVKRFY{I l 8kRU[]tUMdl]RUloMdV HjO wj_dR OShKMPl lQMdVKqnIk_^Y\[Q_Pw*WaenMPVO]_dRUl]l l]tUR<VZY\[QMdeIKVk`ben_PTKl&H HpOSMPL:RUl
RFY{t|h…O]MdLNR MdV Y>TkMR<[]RUVO lQO wj_dR hKRxl OSen[ w0MdlO]en_dT$Y\l Y\V eNt<MdY\_f_PRUO]O]R<[ Y\l Y>l]RU[]MdRUl
e\`
RtU_^Y\L:Y{OSMPenVKlCY{VKT Y{l YzlQenVKVKR O
MPqnIK[]R lQhKe5 l OShk[]R<R l]Y\L:Wk_dRmJaR<qnMPVKVKMdVkqnlse\`aOShKMPlClQO]en[Qw
hKMP_dRzOShKRUl]R*lQR<VOSRUVKt<RUlzJZY\[QR<_Pw lQhZY\[]RY\Vw fen[QTKl8MPV tUenL:LNenVaY\_P_ŽOShK[QR<Rt<enV nR w>JZY{l]Mdt<Y\_d_ w
OShkRpl]Y\LNRzMdVk`ben[QL Y OSMde\V hkR8L*IK_ OSM OSIKTKRme{-` nRU[]lQMdenVKl e\` O]hKMdl enVkRDl OSen[ w l]R<RUL:l IKVKMPijIkR jJKIkO R nRU[QwNTZYFw RY\[QR
l]Ik[][]e\IKVKTKRU
T M OSh VIKL:RU[]enIklNMPVk`ben[QL Y{O]MdenV l]enIk[]t<RUl t<enV nR wjMdVKqOShKRxl]Y\L:RxLNR<lQlSY\q\R<l en[
MdVklQO|Y{VKt<R ŽYNO wjWKMPtFY\_ iIKR<[ w&O]e YNl]RFY{[]t|h"R<VkqnMdVKR[]R OSIK[QVKl8TKejt<IkL:RUVO]llQOSY{OSMPVKqNl]MdLNMd_dY\[o` Y\t OSl ~8_Pl]e VKR l Y\[ OSMdtU_dRUl*`b[]enL‡TkMR<[]RUVO lQenIK[]tUR<l:enV…O]hKRXlSY\LNRXR \R<VOxe\` O]R<V…t<5e nRU[NO]hKR&l]Y\LNR
MdV`ben[]L:Y{OSMPenV 2~ l]R<Y\[]t|h…R<VKq\MdVKRxIKlQR<[:Y\MdLNMdVkq&OSe"cZVkT [QR<_dR {Y\VO TKetUIKLNR<VOSlNY\6
l R<_P_ Y\l Y
WaR<[]lQenV hKe `ben_P_d5e lY\V2R nR<VO OShk[]enIKq\h"l]R \R<[]Y\_CVKR >l MP[]R<l Y{[]R*R<Y\t|h`be\[]t<RUT>OSex[QRFY\T"OShkR
lSY{L:R MdV`ben[]L:Y{OSMPenV"5e nRU[Y\VkT.5e nRU[*Y\qY{MdVY\lY [QR<l]Ik_POpe\`oO]hKMdl []RUTKIKVKTKY\VKtUw =1&en[QR<5e nRU[ sMPV
OSejTZYFw l:MdVk`be\[]L:Y{OSMPenV Y\qnR fR Y\[]R&JenLJZY\[]TkR<2
T M OSh hjIkqnR>Y\LNenIKVO]l:e\`MdVk`ben[QL Y OSMde\V F
CC
F
•
VKRmTZYFw
Y O Y\JaenIkOCLNMdTKTKY wMdVOShKR ugY\[]t 1&e\VKt<R<Y\I:TkMdlQO][]MPtUO{enV
OShKRmJKY\tWK_dY{O]`be\[]L
e\`vY*L:e\[]Rzen[o_PR<lQl `bIk_d_}H JKIkl bVKe5 3 enJKl]RU[:\R<T>Y
WaR<[Ql]enV MPO]h Y \R<[ wx_denVkq
VKRUt hke fY\l RFY\[QMdVKq:Y
`bR<_POhZY O hKMPt|h hZY{T YNWK_^Y\M OSRUT tUen[]T Y\[]e\IKVKT MPOMdVKl OSR<Y\T
e\`oY [QMdJKJaenV hKMdl MPVKTKM jMPTKIZY\_slQIKTKTKRUVK_Pw Y\TkTK[]RUl]l]RUT.OShkR:L:Y\V2lQOSY\VKTKMPVKq&VkRjOO]e
hKMPL \Y\t<tUIKl]MPVKq hKMdLe\`aWKIK[QWenlQR<_ wOS[QRFY\TkMdVKqzenV
hkMdlvO]eRUlCRnRU[Qw*O]MdLNRoY\VwWZY\l]lQR<VKq\R<[
qne\OoenVxen[oe e R \R<[ ahkRzijIkMdt _Pw Y\JZY\VkTKenVKRUTXO]hKRzTKMPl]WKIkO]RzY\VKTxO]hK[]R hKMPL:lQR<_ `
enV>O]exY l]R<Y{
O hKMPt|h"hZY\T"JaR<t<e\L:'
R {Y\t<Y\VO eXhKenIK[Ql_^Y{O]R<[ 3l]Y -hKMPL MdV `b[QenVO
e\` OShkR*qY\[QR HkY\MPVO Y /<Y\[]R*RUVKqY\q\R<T"MdV"R<Y\[]VkR<lQO tUenV nRU[]lSY OSMde\V M OSh2Y `b[QMdR<VkT hKe
fY\l Y\;T jMdlQMdVKq hKMdL OSe [QR<TKIkt<R
OShKRl]WZY\tUR
JR O fRUR<VOShKR*_dY\WaR<_dlDe\` hKMPl5e nR<[Qt<eY O Jw
qnR O]OSMPVKqNY
t<enLNWR OSRUVO OSY\Md_Pen[ O]eN[]Y\MdlQROShKRzO]enW&JkIkO]O]enV
3 VY JKIKlze\`CO]hKRN*H _dMdVkR F– L6_PenVKq — MdTKR hKMPqnh }Y{O — jL `b[]e\L6M OSll O|Y\[ OSMdVkq
WaenMdVO _PeY\TKRU#
T M OSh WRUenWK_PR Y{O • {WkL YzWaR<[]lQenV e{`O]hKRDL:Y\lQt<IK_PMdVKRmlQR :Y\qnRUT
T R<MPqnhKMPVKq q2Y\Vk
T fR<Y\[]MPVKq
• w\RFY\[Ql — L:e\VO]hKl
Y\VkT &TZYFwl • L OSY\_d_ Y\VK
Y2hZY{O — {t<LMPV hkR<Mdq\hON[QenIKVKT…OShKR t<[Qe Ve\` hKMPt|2
h fY\l Y2[]MPJKJaenV – t<L_PenVKq MdVO]R<[]WaR<_P_^Y{O]R<T Y L Y{V Y{qnR<T 0wnR<Y\[]l L:enVO]hKl Y\VKT — TKY wjl \L OSY\_d_zY{VKT
R<Mdq\hKMdVKq q fJw…LNRFY\Vkl:e\` en[QTKl hKe\l]R RUVIKVKt<MdY{OSMPenV_dY\lQO]R<T lQR<t<e\VKTKl
Y\VKT hKMPt|h.Y{_d_dIkTKR<T>O]exl]enLNR
MdV ne\_dIKVO|Y{[Qw>TkMdl]Wk_^Y\tUR<LNR<VOSlze\` `b[]e\L :O]e •{– L:=
L hKRUV:hKR R<VOfY\VKT lSY{O Tke V:Y\JaenIkO F– t<L-5Y fYFw L:V
_dY{OSRU[shKR oY{l F– L Y fY w
`b[]e\LO]hKRol]IkJKIK[]JKY\V R<VOS[]Y\VKt<RmO]e8OShKRmqnY\[]RoHkY\MdVO Y /FY{[]RoY{VKT oY\l oY\_ MdVKqzIKW Y{VKT
TK5e V 5e \R<[YNTkMdlQOSY\VKtURpe{` —n– L MPO]h Y*`b[QMdR<VkT&Y{qnR<T • ; – L@O|Y{_d_}Y\Vk=
T R<MPqnhKMdVkq
q hKe>Y{;T jMdl]RUT.hKMPL MdV en[]TKlpOSe L:5e \R:Jw {tUL MdV"OShKRNTKMP[]R<t OSMPenV e{`fOShkR
/<RUVKMPO]h Y
JKIO]OSe\=V hKMPt|=h fY\l — tUL MdVXTKMdY\L:R OSRU[ 3 qne\OmMPVOSe
Y*JKIklo`bIK_d_ae\`ŠO|Y WZYFw\R<[]l hKe R<[QRzqnM jMdVkq*l]enLNRLNenVKR w:O]e YO|Y WZYFw\R<[
hKe hZY\TXenVxhkMdlfOSY WZYFwnR<[ llQO]enL:Y\t|hXY
_dMPOQOS_PRDJae hKMPt|h&Y{_d_d5e R<T O]hKRze\OShkR<[fOSY *
WZYFwnRU[]lOSe t<enVO]MdVIKR OShKRUMd[oO|Y kWKY w\R<[Ql QenIK[]VkRUw 3fVke\OSMPt<R<T MdVxO]hKMdl JKIKlDY*O|Y WZYFw\R<[
MPO]hY2_denVkqOSY WZYFwnR<[ l VKR<t …Y\VK
T hKenlQR&O|Y kWKY w\R<[ l hkRFY\TJaen[QR&Y2O|Y WZYFw\R<[ l
`bR<_ OhZY OzR<VKtUMd[Qt<_dRUT"Jw"Y WK_dY\MPODOShKR_d0M {Re\` hKMPt|h"VKe O|Y kWKY w\R<[ R \R<[ en[]R
JaRU`be\[]R HIKTkTKR<VK_ w O]hKRlSY{MdT OSY WZYFwnR<[ ZWRU[]RUL:WkO]en[]MP_PwNY\TkTK[]RUl]l]RUT Y*VKRFY\[QJw O|Y kWKY w\R<[mtUen4
L WK_dY\MdVKMPVKqpJKMPOQOSR<[Q_Pw
O]hZY{OohkR oY{loWKIK[QWenlQR<_ w:O][]RFY{TKMdVKqenV hKMPl OSY WZYFwnR<[ lmO]eRUlfR \R<[ w
OSMPL:Rpe\O]hKR<[8OSY WZYFwnRU[]lzqne\O8enV>en[8e O]hKROSY WZYFwnR<[Ql ŽJkIKl hKRUV"OShKR
Y{VKqn[QwXOSY *
WZYFwnRU[ R<VO Y\VKT:lSY{OfTK5e V MdV YlQRFY{O `ben[ OSY WZYFwnRU[]l hKMPt|hxY\VKe{OShKRU[ O|Y kWKY w\R<[ohKY\T
QIKl O {Y\t<Y{OSRUT
MPqnIK[QR 8
O][SY\t OSl `b[]enL 8
R<[]tUMdlQR<l8MPV HjO wj_dR GR
Q
C
RG
E
G
RG
EE
EC
F
C
CC
C EC E
C
CR
CC
2D
D
R
E
Q G E
C
AD
C DG
C
D
C
C
—
LNR<[]RU_Pw – wnR<Y\[]lzY{qneaY iIKR<l OSMPenV>_dM\R hKRU[]RRU_dlQRTKMPT 3olQR<RO]hZY{OzY{tUOSe\[ 2 enIK_PT _dM\RU_Pw
hZY nRJRUR<V Y\VKl: R<[QR<T"IKlQMdVKqNWaR<[]lQenVZY\_ŠLNR<LNen[]MPR<l hKR<[QRFY\lOSejTZYFw enVKRptFY\V RFY{l]Md_ wx[]R OS[QMdR\R
Y:Vken.V O][]M MdY\_ŽY{L:enIkVODe\`vMdVk`ben[QL Y OSMde\V IKl]MPVKq Y
`bRiIKMPtxt<_PMdtl
hKMPlDMPL:Wk_dMdRUlmY:q\R<VIKMdVkR
VKRUR<T `be\[OSejen_dl8O]hZY{OphKRU_dW2IKl OSeXt<enWaR MPO]h _dY\[]qnRijIKY\VOSMPO]MdRUlpe{`fMPVk`ben[]L:Y{O]MdenV
f_dR<Y\[]_ w}MPO
enIK_dTXJaR hKMdqnhk_Pw:TKR<lQMd[SY{JK_dRO]eNhK5Y \RpY LNR<t|hKY\VKMdlQL `ben[mWK[QeTkIKt<MPVKqNY lQIKLNL Y\[ w tUenVO|Y\MPVKMdVkq
t<e\L:LNenVxMdV`ben[]L:Y{OSMPenV jqnM \R<VXL*IK_ OSMPWK_dRD[]R<_dY{OSRUT&TketUIKL:RUVOSl ejTZYFw ŽOShkR
WK[]RUTKenLNMdVZY\VOzLNRUO]hKejT `ben[lQIKL:L:Y\[Q0M /FY OSMde\V Mdl8l]R<VO]R<VKtURNR jOS[SY{tUOSMPenV }MPV
hKMPt|h l]RUVO]R<VKtUR<l Y\[QR8R O][SY\t OSRUT nRU[]JZY{O]MdL `b[]e\L MdVKWKIOoY\[ OSMPt<_dRUl Y\VKT tUenVKtFY OSR<VKY{OSRUT OSep`ben[]L
Y>l]IkL:L:Y\[Qw hKMdlOSR<t|hkVKMdiIKRXMdlVKe\O
R RUtUO]M nRXMPV0Y>L*IK_ OSM TKejt<IKLNR<VOpl]tUR<VZY\[QMde en[*R *
Y\LNWK_dR Y\V R jOS[SY{tUOSRUT$l]RUVOSR<Vkt<R L:YFw"MdVKtU_dIKTkRNTkRUO|Y{Md_dl lQWRUt<MPcKtNO]e O]hKR Y{[QOSMPt<_PR*`b[]enL hkMdt|h
MPO t<Y\LNR Z_dR<Y\TKMPVKq
OSeNl]enIK[Qt<RpJKM^Y{l ~oO]OSRUL:WOSMdVkqNO]e:lQen_ \R O]hKMdl WK[QenJK_PR<L JwXMdVkt<_dIkTKMdVKq LNen[]R
l]RUVOSR<Vkt<R<lxLNMdq\hON_PRFY\T…OSe$Y nRU[]Jaenl]R"Y{VKT[QR<WaRUOSM OSM nR l]IKLNL Y{[Qw IK[ OShKRU[]LNen[]R ZIKRUVKtUw YXIKl]IZY{_ tUenVKt<RU[]V M OShR jOS[]Y\tUO]MdenV L:R OShKejTKl gMPlplQMdqnVkMPcZt<Y\VOS_Pw"Y\qnqn[]5Y {Y{O]R<TJw WKY\lQO]MdVKqXOSe qnR OShKRU[OSR jO `b[SY{qnL:RUVOSl`b[]e\LƒL*IK_ OSMPWK_dRpl]enIk[]t<RUl 3 Vl]hKe\[QO ŠYxqnRUVKR<[]Y{OSRUT lQIKLNL Y\[ w enIK_PT
hZY nRpVIKLNR<[]e\IKlY\;T {Y\VO|Y\q\R<l 5e nR<[DY\VXR jO][SY\t OSR<T&enVKR hkR<l]RxtUenVKlQMdTKRU[SY{O]MdenVKl lQIKqnqnRUlQO*O]hZY{OL:R OShKejTKlpTKR \R<_de\WRUT$MdVOShKR:Y\[]R<Y&e\` 8Y{O]IK[SY\_
Y\VKqnIKY\qnRy RUVKR<[]Y{OSMPenV tUenIK_dT&JR[]RU_dR {Y\VOD`ben[O]hKRlQIKLNL Y\[Q0M /<Y{OSMPenV O|Y\:l hKRUl]R*LNRUO]hKeTkl
WK[Qe jMPTKRYpLNR<t|hZY{VKMdlQL-`ben[ qnR<VkR<[SY OSMdVkq O]R jO `b[]enL Y\V:IkVKTKR<[Q_PwjMdVkqplQR<L:Y\VOSMPt[QR<WK[QR<lQR<VO|Y{O]Mden-V en[8R kY\L:Wk_dR ŽY O wWkMdtFY{_vqnRUVKR<[]Y{OSMPenV2Y\WKWK_PMdt<Y{OSMPenV&LNMdq\hO8t<[QRFY{O]R*cZVZY\VKtUM^Y\_g[]RUWen[ OSlq\M nRUV2Y
TZY{OSY\JZY\lQR:e{`mlQO]et 2L:Y\[ {RUOpOS[SY{VKlSY\t OSMPenVKl x~ qnRUVKR<[]Y{OSMPenV l wjlQOSRUL’hKY\lpO]e L:Y \RNTKRUt<MdlQMdenVkl
Y{O {Y\[]MPenIKl _dR nRU_dl e\`vO]R jO[QR<WK[QR<lQR<VO|Y{O]Mden-V `b[QenL tUenVOSR<VO8WK_^Y\VkVKMdVKq
O]e:lQIK[Q` Y\tUR[QRFY\_P0M /FY OSMde\V fenVOSRUVOzWK_^Y{VKVKMdVkq:TKR OSRU[]LNMdVKRUl hKMPt|h"l]R<L:Y\VOSMPttUenVKtUR<WkO]l8OSe MPVKt<_PIKTKRpMdV OShKRenIkOSWkIkO8O]R jO
Y\VKT hK5e O]e:e\[]qY\Vk0M /<RO]hKR<=
L HIK[ ` Y\t<R []R<Y\_dM /FY{O]MdenV TKRUO]R<[]LNMdVkR<l hK5e OSe L:Y\WXt<enVO]R<VO8IkVKMPO]l
MdVO]eNlQR<VOSRUVKt<RUlJwXl]RU_dR<t OSMPVKq Y{WKWK[]e\WK[]MdY{OSRzl wVOSY\tUO]MdtplQOS[QIKtUO]IK[]RUl8Y{VKT en[]Tkl f~lQMdqnVKM cZtFY{VO
F
F
Q
F
R
d_ MPL:M O|Y{O]MdenV"e{`DRMdlQO]MdVKq t<enVKtUR<WkO O]e O]RjO qnR<VkR<[SY OSMde\V$MdlMPOSlTKenL:Y\MdV. TKR<WaR<VkTKR<VKtUR:t<[]M OSRU[]M^Y
`ben[ t<e\VO]R<VODl]R<_PR<t OSMde\V Y\[QRTkRUOSRU[]LNMdVKRUT&JwXTKe\L Y\MPV. lQWRUt<M cZtzWK[SY{qnL Y OSMdtztUenVKl OS[SY{MdVOSl hkMd_dR
l]Ik[Q` Y\tUR8[]R<Y\_dM /FY{O]MdenV [QR<iIKMd[QR<lfYTKenL:Y\MP.V lQWRUt<MPcKtTkMdtUO]MdenVKY\[Qw
`ben[CO][SY\VKlQ_^Y{O]MdVKqpl]RUL Y{VO]Mdtt<enV t<RUWkOSlMdVO]e:Y{V&Y{WKWK[]e\WK[]MdY{OSRz_PMdVKqnIkMdlQO]MdtD[]R<Wk[]R<lQR<VO|Y OSMde\V oY{9
V R IKl]R lQO][SY{O]R<qnMPR<l}TKR nRU_denWaR<Tp`ben[Žt<e\VKt<RUWk:O OSe OSR jO qnRUVKR<[]Y{OSMPenV hKR<VqnR<VkR<[SY OSMdVkq
l]IkL:L:Y\[Qw:l]RUVOSR<Vkt<R<l HjMdVKtURl]IKLNL:Y\[]M /FY{O]MdenV:lQwjlQO]R<LNlmenWRU[SY{O]Rz5e nR<[oO]R jOSIKY\_ŽMdVkWKIkO TKMd[QR<t O
Y\WKWk_PwjMdVKq0O]hKR<lQR LNRUO]hKeTkl enIK_PT [QR<iIKMP[]R"OS[]Y\VKl]_dY{OSMPVKq$OShkR MPVKWKIkOXOSR jO&MPVOSe…Y…lQR<L:Y\VOSMPt
[]RUWK[]RUl]RUVOSY{OSMPenV De\Oxe\VK_Pw TKejR<lxl]Ikt|h O][SY\VKlQ_^Y{O]MdenVR jOSRUVKT R<_P_8JaRUw\enVKT OShKR2Y\JkMd_dM O w e\`
t<Ik[][]RUVO Y\VZY\_ wjl]Mdl LNRUO]hKeTkl sJKIOO]hKR:O wjWaR e\`m[QR<lQenIK[]tUR<l
[QR<iIKMd[QR<T$Jwt<Ik[][]RUVO
qnR<VkR<[SY OSMde\V
lQwjl OSR<LNlst<Y\V
JR enJkOSY\MdVKRUTenVk_Pw `ben[ _dMdLNMPO]R<T TKenL:Y\MPVKl 3 V
Y\TKTkMPOSMPenV {Y\VwLNRUO]hKejTTKR nR<_PenWaR<T
`ben[gt<enVKtUR<WkO O]e O]R jOCqnRUVKR<[]Y{OSMPenV*TKejR<lgVKe\OCIKlQRfOSR jOC[]R<Y\TKMd_ wpY \Y{Md_^Y{JK_dR Y\lsMPVKWKIkO \JKIOCMdVKl OSR<Y\T
qnRUVKR<[]Y{OSRUlsR \R<[QwWKhK[]Y\l]R `b[]enL3lQt<[SY OSt|h hkR<l]RmtUenVKlQMdTKRU[SY{O]MdenVKl l]IkqnqnR<l OsOShKY{O RoVKRUR<T YVKR LNRUOShkeT`be\[vOShKRfl]IKLNL Y{[Qwp[]R []MPO]MdVKqDO|Y\:l 83 TKRFY\_P_Pw \l]Ikt|h:YLNRUO]hKej'
T fe\IK_dT
VKe{OC[]RUijIkMd[]R `bIK_d_
l]RUL Y{VO]Mdto[QR<WK[QR<lQR<VO|Y{O]Mden-V jJkIk<O enIK_dT
[]Y{OShkR<[C[]RU_PwenV
MdVkWKIkOsO]R jOSl Y\VKT VK5e _PR<TKqnRmO]hZY{OCt<Y\V
JaR Y\IOSenL:Y{OSMPtFY\_P_Pw TKRU[]M \R<T.`b[QenLƒO]R jOO]e&qnRUVKR<[]Y{OSR:Y&lQIKLNL Y\[ w"Jw2[]RUIKl]MPVKq>Y\VkT$Y\_ OSR<[QMdVKq
WKhK[]Y\l]RUl`b[QenL@O]hKR MdVKWkIkOY\[QO]MdtU_dR<l
3 V OShKMPlXO]hKR<lQMdl R2`betUIKl&e\V
Y…LNRUO]hKeT `ben[ qnR<VkR<[SY OSMdVkq
L*IK_ OSM TKejt<IKLNR<VO
lQIKLNL Y\[QMdRUl 1 en[]R l]WaR<tUMPcZt<Y\_d_ w O]hKMdl LNRUO]hKeT t<[QRFY{O]R<l:Y l]IkL:L:Y\[Qw$Jw
lQwjVOShkR<l]M /<MPVKq
t<enLNLNenV MPVk`ben[]L:Y{O]MdenV:Y\t<[Qenl]lfMdVKWKIOoTKejt<IKLNR<VO]loMdVOSeY*t<enhkR<[]RUVOoOSR O HIKt|h
Y OSRUt|hKVKMdiIKR MPlzl]IKM O|Y\JK_PR`ben[LIK_PO]M TketUIKL:RUVOl]IkL:L:Y\[]M /FY{O]Mden-V lQMdVKtURN[QR<WaRUO]MPOSMPenV>e\` MdV`ben[ L:Y{OSMPenVXY\LNenVKq []RU_^Y{O]R<TXl]enIk[]t<RUlDMPlY\V&MPVKTKMPtFY{O]MdenV e{`vM OSl MdLNWe\[QO|Y{VKt<R hKR {RUwXt|hZY{_d_dRUVKqnRUl
e\`mMPVk`ben[QL Y{O]MdenV"`bIKlQMdenV.Y\[]R:MdTKRUVOSMPcKtFY{O]MdenVe\`mtUenL:LNenVMdVk`be\[]L:Y{OSMPenVY\VKT$tUenL*JKMPVZY{OSMPenV2e\`
l]Ikt|hMPVk`ben[QL Y{O]MdenV MdVO]exY OSR O - hKMPt|h2Y\[]R*WaR<[ `ben[]LNR<T M OShKe\IkOhZY jMdVkqxY\t<tUR<lQl O]e OShKR`bIK_d_
l]RUL Y{VO]Mdt []RUWK[]RUl]R<VOSY{OSMPenVe\`O]hKR MPVKWKIkONOSR jOSl 7DVk_d0M {R O][SY\TkMPOSMPenVZY\_fqnR<VKRU[SY{O]Mden-V ot<enVO]R<VO
1 M6 %<> 1 *O 1
KW _dY\VKVKMPVKq*`ben[mL*IK_ OSMPTKetUIKLNR<VOolQIKL:L:Y\[QM0/FY OSMde\V enWaR<[SY OSR<l e5nRU[m`bIK_d_ŽlQR<VOSRUVKt<RUl aMPO tUenL:WKY\[]RUl
OShkR WK[QR<TKMPtFY{O]R Y{[]qnIKLNR<VOlQOS[QIKtUO]IK[]RUl*e\`mO]hKR MPVKWKIkOl]R<VO]R<VKtUR<lNY\VKT$Wk[]ejTKIKt<RUl*l]R OSl*e{`ml]RUV.
OSRUVKt<R `b[]Y\qnLNR<VOS9
l hKMdt|h tUenV nRUw$t<enLNL:e\V.MdV`ben[]L:Y{OSMPenV
hKR WK[QMdVKtUMdWZY{_ LNRUO]hKeT fRxIKlQR
`ben[O]hKMdlzO|Y{l >MPlY{_dMdq\VKL:RUVOe\`fWK[]RUTKMdt<Y{OSR Y\[QqnIKLNR<VO lQO][]IKt OSIK[QR<l hKR O|Y\:l >e\`olQIK[Q` Y{t<R []R Y\_P0M /FY OSMde\V>MdV2OShKMPl l]t<RUVZY\[QMde MdlOSe WK[QeTKIkt<R ZIKR<VOl]RUVO]R<VKtUR<l
Jw2t<e\L*JKMdVkMdVKq O]hKR<lQR WKhK[]Y\l]RUl
Y\VKT Y\[][]Y\VKqnMPVKq
OShKRUL(MdV VK5e nRU_gtUenVOSR jO]l .RphwjWe\O]hKR<lQ0M /UROShKY{ODO]hKRp_^Y\t e{`CY\V&R<_^Y{Jen[]Y{OSR
l]RUL Y{VO]Mdt[]RUWK[]RUl]R<VOSY{OSMPenV * hKMdt|h MPl []R<iIKMP[]RUT:`ben[ OS[]Y\TKMPO]MdenVKY\_kqnRUVKR<[]Y{OSMPenV tFY{V JRt<e\L:WaR<.V lSY OSR<T `ben[ Jw2O]hKR VK5e _dRUTKqnR:Y\IkO]enL Y OSMdt<Y\_d_ w R jOS[SY{tUOSRUT.`b[]e\L OShKR:MdVKWKIOTketUIKL:RUVOSl*Y{VKT
Y _^Y\[QqnRzOSR jODt<en[QWKIKl hKMPt|h WK[Q5e MPTKR<lt<_PIKR<lDY\l OSeNhK5e OSeNt<e\VKlQO][SY\MPV O]hKRVIKLJRU[De\` oYFwjl
OShkR O]R jO `b[SY\q\L:RUVO]l tFY\VXJaRptUenL*JKMPVKR<-T ~WK[]MPVKt<MPWZY\_l]enIk[]t<Rfe\` VK5e _dR<TkqnRo[]RUiIKMd[QR<T*`ben[gMdVk`ben[QL Y OSMde\V `bIkl]Mde\V*MdlgWZY\[SY{WKhK[SY{l]MdVkq
MdV`ben[]L:Y{OSMPenV l]MPVKt<Rf[]R<_dY{OSRUT*TKejt<IKLNR<VO]lCe\` OSRUV*t<enVOSY\MdV*TkR<l]tU[]MPWkOSMPenVKlse\`ZO]hKRol]Y\L:R ` Y\tUOvIKl]MPVKq
TKM RU[]R<VO fe\[]TKMPVKq bR q +$ $ 9$&"$ )6" < < < = ) >$ :Y\VKT ) >$
)( + $) "+$% $ 0)! + ; ) hKRU[]R `ben[]R oOShKR&Y\t<tUIK[SY{tUw…e\`8O]hKR t<enVOSRUVO WK_dY\VKVKRU[
t<[QIKt<MdY\_d_ wTkR<WaR<VKTKl enV
OShkRDY{JKMd_PMPO w OSe L:Y{OSt|h
`b[SY{qnL:RUVOSlCe\`aOSR O O]hZY{O t<e\*V \RUwNl]MPL:MP_^Y\[ LNRFY\.V MdVkq JKIkOpY\[QR
VKe\OzMPTKR<VO]MdtFY{_vMdV fen[QTKMdVkq ~Dl fR lQhK5e -MPV"t|hZY\WkO]R<[ • ŽR kMPlQO]MdVKq O]hKR<l]Y\IK[]MvTKe
VKe\OoWK[]5e jMdTKR8l];I Nt<MPR<VOmtUe \R<[]Y\qnRze\` WZY\[]Y\WKhK[]Y\l]RUl KLNen[QR<5e nRU[ kO]hKRUw:TKe
VKe\OfMdVKtU_dIKTkRWKhK[]Y\lSY\_
Y\VKT lQO][]IKt OSIK[]Y\_ WZY\[SY{WKhK[SY{l]R<l ~8_ OShKenIkqnh…Y\IkOSe\L Y{O]MdtxMPTKR<VOSM cZtFY OSMde\V…e{`WZY\[]Y\WKhK[]Y\l]RUl t<Y\V
JaR<VKR cKO8L:Y\VwXY\WkWK_dMPtFY{O]MdenVKl kMPVKt<_PIKTKMdVkq
ijIkR<lQO]MdenV Y\VKl fRU[]MPVKq ZMdV`ben[]L:Y{OSMPenV R O][SY\t OSMPenV Y{VKT
VZY{O]IK[SY{_ _^Y{VKqnIZY\q\RDqnRUVKR<[]Y{OSMPenV jOShKMPl fY\lmVKe\O YpOSenWKMPte\`ŠWK[QR jMde\IKlo[]RUl]R<Y\[]t|h 3 V OShkMdl O]hKR<lQMdl R WK[QenWe\l]RNY&LNRUO]hKeT2`ben[ WZY\[]Y\WKhK[]Y\l]R:Y\tUijIkMdl]M OSMPenV"`b[]enL YX_^Y{[]qnR JaeTkw>e\`fO]R jO*Y{VKT.IKlQR
TKRU[]M \R<T WZY\[]Y\WKhK[]Y\l]RUlDMPVXO]hKR MdVk`be\[]L:Y{OSMPenV:`bIKlQMdenV Y\_Pqnen[QMPOShkL 3 V`ben[]L:Y{OSMPenVX`bIKl]MPenV&MPlDRUL*JaeTKMPR<T&MdVXOShKRL*IK_PO]M TKetUIKLNR<VO l]IKLNL:Y\[]M /FY{O]MdenVxl wl OSRUL
1&IK_ OSM^y RUV hkMdt|h fY\loIKlQR<TXY\lmYpOSR<l OSJaR<Tx`ben[ OShKRDL:R OShKejTKloTKR nRU_denWaR<T M OShKMPV:OShkMdl O]hKR<lQMdl D
RpTkR<l]tU[]MPJR &
1 IK_ OSM^y RUVxMdVxOShKR VKRjO8lQR<tUO]MdenV-
†
EC9’5z;
1&IK_ OSM^y
UR V MdlfY*L*IK_ OSM TKejt<IKLNR<VO l]IKLNL:Y\[]M/FY{O]MdenVNlQwjlQO]R<L OShZY{OoY\IkO]enL Y OSMdt<Y\_d_ w
qnRUVKR<[]Y{OSRUlmY
t<e\VKt<MPl]R*lQIKL:L:Y\[ w&e{` []R<_dY{OSRUT>TKejt<IKLNR<VO]lJw MPTKR<VOSM ` wjMdVKq:l]MdLNMd_dY\[]M OSMPR<lmY\LNenVKqNOShKRUL hKR
O wjWKMdt<Y\_mMdVkWKIkO
OSe2OShkR l wjlQOSRUL Mdl Y"l]R O e\`8Y\[ OSMdtU_dRUl Y\Je\IkO
OShKRXl]Y\L:RXRnR<VO:WK[]ejTKIKtUR<T Jw
TKM RU[]R<VONVKR l Y\qnRUVKt<MPR<l MPqnIK[]R • l]hK5e l Y\V RkY\L:Wk_dRXe\`8YlQIKL:L:Y\[ w0WK[]ejTKIKtUR<T Jw
1&IK_ OSM^y RUV OShKR MPVKWKIkODY\[ OSMdtU_dRUl Y\[]RY \Y{Md_^Y{JK_dRDMdV ~8WKWaR<VKTkM X~ 1&IK_ OSM yzR<VXhZY{l O e L:YQen[
t<e\L:WaenVKRUVO]l Y\VxY\VZY{_Pwjl]MPlft<e\L:WaenVKRUVOoY\VKTXY `bIKl]MPenV t<e\L:WaenVKRUVO lQR<R MPqnIK[]R — zIk[
t<e\VO][]MPJKIkOSMPenV$MPlOShkR `bIKl]MPenV$tUenL:WaenVKRUVO fRU_d5e fRxJK[QMdR Kw.TkR<l]tU[]MPJR R<Y\t|h e\`mOShkR<l]R O e
t<e\L:WaenVKRUVO]l
F
C
F
"!#%$'&(*)%+$, $-%./
&(01213&%! 45.67)((18
7&%
9:
;&%1< = >?.61"0>@
A4#:B$CA7@D
;&%FEGA H)#12:*IKJ9 L$M=05N
# >C&%*)%OA(PB(
D
QSRT:*
7&P9.U12 4V%$
7&WX U$YR
U>IZ5&?[C#12 $K\9 7&W]Y1^!#*N
_
= `&%*)%B(*
W.<%4>
aN2b/$,*!C0- > Q
c :d:D
Qef*)%>
; !#
QH
;&%K:*
7A%1g#hIjiC%N
# Y&%*)%k$T $H &%( dl4(d:%$,*! #:1^B>
71m
=*!n
7& > 4(hIkRL@0o*
Q0W-4(f:$#'.67)((12l
0 :B4( '(#f*%$DA $,*!'.Q1m0p
;&%'0q:
;&l
(BC$r#:Is]Y%j%. 7&tb/1^
H)# 4>
=0Wl
u &%D$T $MviwFR,(KxLl u -1m(#1^
U$v
Q
A-oB $T (13I
F MPqnIK[QR C • C~3l]IKLNL
Y{[Qw e{`gO]hK[]RURY\[ OSMPt<_dRUloWK[QeTKIkt<R<T&Jw=1&IK_ OSM yzR<V
C
E
Analysis Component
Information Fusion
Clustering
Ordering
Feature Extraction
Themes
Sentence Fusion
.....
Article1
Articlen
Summary
F MPqnIK[QR C — 1&IK_PO]M yzR<VXY\[Qt|hKMPO]R<t OSIK[QR
!#"$%'&()*+
F MP[]lQOnOShKRlQwjl OSR<L
PM TKR<VOSM cZR<l $!)qn[]enIkWKl e\`ŽlQR<VOSRUVKt<RIkVKMPO]l `b[QenL TKM RU[]RUVO TKejt<IkL:RUVO]l
OShKY{Opt<enVO|Y{MdV[]R<WaRFY OSR<T MdVk`be\[]L:Y{OSMPenV
Y\t|h.O]hKR<LNR t<en[Q[]RUl]WaenVKTKlpOSe enVKR l]RUVO]R<VKtUR MdV2OShkR
enIkO]WKIkO lQIKL:L:Y\[ w s~DVNR kY\L:Wk_dRme\` YOShKRUL:RmMPlCl]hKe5 V MPV Mdq\IK[]R hKR<[QRL:YFw*JaR L Y\Vw
OShkR<LNR<lŠ`ben[ YDl]R Ove{`ZY\[ OSMdtU_dRUl {`be\[ŠO]hKR Y\[QO]Mdt<_PR<l}`b[]e\L~8WKWaR<VkTKM p~ O]hKR<[QRfY{[]R mO]hKR<LNR<lgl]hKe5 V
MdV"~DWKWaR<VKTKM hkR:Y{VZY\_PwjlQMdltUenL:WaenVKRUVO gHMdL cZVKTkR<
[ 8Y{O /<M {Y\lQl]MP_denqn_PenI 6 _^Y{Y\VKlŠY{VKT
Cl Md-V nt<e\L:WKIOSR<lClQMdLNMd_dY\[]M O w Y\LNenVKqzl]RUVOSR<Vkt<R<l `b[]e\L-MdVkWKIkOsO]R jOSl Y\VkT O]hKR<V tU_dIKl OSR<[Ql
OShkR<LƒMPVOSe O]hKR<LNR<l * 7VK_dM \RL:enl OzlQwjl OSR<LNlOShKY{Ozt<e\L:WKIOSR
Y LNRFY\lQIK[]Re\` l]MPL:MP_^Y\[QMPO wx5e nRU[
OSR jO `bRFY{O]IK[]RUlxIKl]RUT JwHMdL cZVKTkR<[ R O]R<VKT JaRUw\enVKT Y.l]MPL:Wk_dR en[QTt<enIKVO Y\VkTMdVKtU_dIKTKR
VKenIkV&WKhk[SY\lQR ZWK[QenWRU[mVKenIK-V Y\VKT l]R<L:Y\VOSMPtzl]RUVKl]Rp5e nR<[Q_^Y\W ZMPO Y\_Pl]e
IkO]Md_P0M /<RUloWaenl]M OSMde\VZY\_ŽY{VKT
[]RU_^Y{O]MdenVKY\_ MPVk`ben[]L:Y{O]MdenV:JR O fRUR<V>WZY{Md[]lme{8` en[]TKl fe\L*JKMdVKY{OSMPenV e\`g`bRFY{O]IK[]RUlMPlmWRU[Q`ben[QL:RUT
IKlQMdVKq_denq _dMPVKRFY\[v[]R<q\[]R<lQl]MPenV . hkMdt|h hZY{lfJaR<R<V:OS[SY{MdVKRUT enV Y_^Y{[]qnRL Y{VjIKY\_d_ *w L Y{[ \RUT l]RUOfe\`
l]RUVOSR<Vkt<RWKY\Md[Ql
F
CHHH
,-!.0/2143576895;:=<%:?>@/A1@:=5B>@C@/D>E.0/A:>F.0<
1E3578G<H5BIJ>F.0/21!>E.0<1F/A1K
CR
&E
G
]YOi ]54>
KxLlY u 1m(#1^
Q$ 7&%
H*
nr PfS#1^
;&%(12r"!#%$e
Q u &%*)(W$, $Mf1m4(*
u (h7k%.H&%(0q#1212&%! 4
.<7)%(1
;&(*
K:*
7&#1< ; >K.<(107@rA4:B$
A7@
7&KEGA o#1 K(13A#:#1m!K)#12:*I
kA:
Wt M&%*)(o$T $M.Q1m0 DQN<@>
:## $(*
; b,$D$T BBfF1m
;&%(12`"!#$LLI
!##%$&%# ;&M#:
;&%1< = >-(1mvA%
U
;df!M
Q
4*
#f5k:*
7A%1g#h :*4>
Q$
UoA4:B$
A7@ 7&?$%$T @'EGA )#12:* u & 4(&W&%?h%ff $*
Xi f'
7&o1m
;& %.
;&%4:*
71 @I
F MdqnIk[]R C R C~t<en_P_dRUtUOSMPenV
e\`gl]MPL:MP_^Y\[ l]RUVOSR<Vkt<R<l ZW Y\[ O e\`vY=$!
Kh R`bIKlQMdenVxtUenLNWenVkR<VO Y\MPL:l OSe
t<[QRFY{O]RzY*t<e\hKR<[QR<VO SO RjOm`b[QenL Yl]RUO e{` O]hKR<LNR<lmtUenLNWKIkOSRUT
JwOShkR2Y\VZY\_ wlQMdl tUenLNWenVkR<VOXTKR<lQt<[QMdJaR<T Y\Je5\R
Kh MPlxWK[]ejt<RUl]lXt<e\VKl]MPlQOSlxe{`O e lQO|Y{qnR<l
l]RUVOSR<Vkt<R`bIkl]Mde\V&Y{VKT&lQR<VOSRUVKt<Ren[]TkR<[]MPVKq 1 > 1*. = 1 yzMnRUVY2OShKRUL:R&RjOS[]Y\tUO]R<T`b[QenL‡OShKR Y\[QO]MdtU_dR<lol]hke VMdV F Mdq IK[QR C R shke t<Y\V R TKRUO]R<[QL:MPVKR:O]hZY{OenVK_Pw2O]hKR lQR<VOSRUVKt<R Q~oO_dRFY{lQO —\– WaR<enWK_PR MPV
VKe\[QOShkR<[]V 7DqY\VkTZYhZYnR8TKMdRUT e\`ŠYhkR<LNen[][QhZY\qnMPt`bRnR<[ OShZY{OoY\IkO]hKen[]M OSMPR<lC`bRFY\[ L YFwNJaR
t<Y\IKl]RUT Jw&OShKR CJaen_^Y jMP[]IKl
Xl]hkenIK_dT"JaR
[]RUWK[]RUl]RUVO]R<T MdV O]hKR
l]IKLNL:Y\[Qw .R
hKY5\R
TKR nRU_denWaR<TNYzVKe5nRU_ Y\_dqne\[]MPO]hKL`ben[vO]hKMdlsOSY\l 9 hKMdt|hNY\VKY\_Pw /<RUlsOShKRmq\[SY\LNL Y OSMdt<Y\_lQO][]IKt
O]IK[]RDe\`ŠRFY\t|h O]hKR<LNRlQR<VOSRUVKt<R M OShxY\V e OShKR lQhKR<_ `}WZY\[Ql]MdVkqOSejen_&
IK[fMPVk`ben[]L:Y{O]MdenV
`bIKlQMdenV Y\_Pqnen[]M OShKLƒY\_dMPqnVKl WK[QR<TKMPtFY{O]R Y\[QqnIKLNR<VOplQO][]IKt OSIK[QR<l*e\`fOShKRNl]RUVO]R<VKtUR<6
l M OShKMPV
R<Y\t|hNO]hKR<LNRmOSe TKR OSR<[QL:MPVKR Y " )0) $% O]hKRmOS[QR<R hKMdt|h lQhZY\[]RUl O]hKR L:e\lQO MdV`ben[]L:Y O]MdenV MPO]h&e\O]hKR<[ OShkR<LNRlQR<VOSRUVKt<RUl hKRJKY\l]MPlO][]R<RpMdlY\IkqnL:RUVOSR<=
T MPO]h>Y\_ OSR<[QVZY{O]M nR
\R<[]JKY\_dM /FY{O]MdenVKl `b[]e\L O]hKR e\O]hKR<[pOShKRUL:R l]R<VO]R<VKtUR<l Y\VKT.l]IKJkO][]RUR<l e\`oO]hKR JZY\lQMdlpOS[]RUR
F
Kh MPt|hXY\[]R8VKe\Oo[QR<WK[QR<lQR<VO|Y{O]M\Rpe{`}OShKR8O]hKR<LNRY{[]RWK[QIKVKRUT
MdVZY{_d_PwnOShKRDOS[SY{VKlQ`ben[QL:RUT
O][]R<R MPlm_dMdVkRFY\[QM0/<RUTxJZY\txMPVO]e YNlQR<VOSRUVKt<RIKl]MPVKqNY
_^Y\VKq\IZY\qnRzLNeTkR<_&
H
1 > 1*. S5?M 1 VKt<R OShkRNlQIKLNL Y\[ w>lQR<VOSRUVKt<RUl*hZYnRNJRUR<VqnR<VkR<[SY OSR<T-ghKe5
t<Y\V fR2en[QTKR<[:OShKRUL MdVO]e0Y$t<enhkR<[]RUVO O]RjO 3 VO]hKR"tFY\lQR"e\`pL*IK_ OSMdWk_dR TKejt<IKLNR<VO
lQIKL:L:Y\[QM0/FY OSMde\Vsl]e\L:RXR \R<VOSl:L YFw0Vke\ONJRXTKRUl]t<[QMdJaR<T…MdV0OShkR l]Y\LNR&Y{[QOSMPt<_PR
IK[
O]hKR<[QL:en[QRfO]hKR e\[]TKRU[]MdVkq.e\`zlQR<VOSRUVKt<RUl {Y\[]MPR<l `b[]enLenVkR>Y\[ OSMdtU_dRxOSe.Y\VKe\O]hKR<[
hKR
Y\IOSenL:Y{OSMPtY\VKY\_Pwjl]MPloe\`vY*VKR lQWZY\WaR<[t<en[QWKIKlm[QR nR<Y\_dRUT O]hZY{OY\tUt<RUWkO|Y\Jk_dRzen[QTKR<[QlhK5Y \R
O]e lSY{O]Mdl ` w&tUenhKRUl]Mde\V2Y\VKT>t|hK[QenVKen_PenqnMPtFY\_Št<e\VKlQO][SY\MPVO]l IK[8en[]TKRU[]MPVKq Y\_Pqnen[QMPOShkL cZ[]l O
MPTKR<VOSM cZR<l qn[]e\IKWKloe\`ŠtUenhKRUl]M \R<_ w []RU_^Y{O]R<T O]hKR<LNR<lfJZY\l]RUTxenV en[]TxTkMdlQO][]MPJKIkOSMPenV MPV OShkR
MPVKWKIkOfTKetUIKLNR<VOSl R jO OShKRzt|hK[QenVKen_PenqnMPtFY\_ en[QTKR<[ Y\LNenVKqpOShKRUl]R qn[QenIKWKloMPlfMPVKTKIKtUR<T
JZY{l]R<T enVXOSMPL:Rl O|Y\LNWKl e\` OShKR MPVKWKIkOY\[ OSMPt<_dRUl
F
* ) * 4+
f IK[Q[]R<VO]_Pw 1&IK_PO]M yzR<V&MdlY:WZY\[QO8e\`fen_PIKL*JKMdY lR l]Jk_^Y\l OSR<[zl wjlQOSRUL DR lQJK_^Y{lQOSRU[zenWaR<[
Y{O]R<lse5nRU[sTKejt<IKLNR<VO]lvOShZY OCY\[QRfTKMPl]t<e5\R<[]RUT Y\VKT
TKe5 VK_PeY\TKRUT*R\R<[ w*TZYFwp`b[]enLL:Y\Vwe\V. _PMdVKR
VKR lCl]enIK[Qt<RUlCl]IKt|hNY\l RUIkOSRU[]lY{VKT $Y{l]hKMPVKq\OSe\V
ugenl O
hKRmlQwjlQO]R<L-Y\IkOSe\L Y{O]Mdt<Y\_d_ w
t<e\_d_dRUtUO]l at<_dIklQOSRU[]l tFY OSR<q\en[]M /<R<l ŽY\VkT>l]IKLNL:Y\[]M /<R<lVKR l8`b[]enL(O]hKR R<J ŽY\VKT>M O8WK[Q5e MPTKR<l8Y
IKlQR<[ `b[]MPR<VKTK_ w0MdVO]R<[Q` Y{t<RXOSe.Jk[]5e l]R OShKR&[]R<lQIK_PO]l R l]Jk_^Y\l OSR<[ Y\IkO]enL Y OSMdt<Y\_d_ w[]enIkO]R<lNMPO]l
MdVkWKIkOO]e>enVKR e\`mO fe"lQIKLNL Y\[Q0M /UR<[]lpTKRUWRUVKTKMdVkq"enV.OShkR O wjWRxe\`mO]hKR MPVKWKIkO*Y\[QO]Mdt<_PR<l l]RUO]l
e\`Y\[QO]Mdt<_PR<lNY\JaenIkO OShkR&l]Y\L:RXR nR<VO Y\[]R l]IKLNL:Y\[]M /<R<T Jw 1&IK_ OSM yzR<-V fY\VkTY\_P_me\OShkR<[]l:Y\[QR
TKMP[]R<t OSRUT OSe
r
1>H Ht|hKM L:Y\V DRUV \5e {;Y ZY{VKT 1&t 6 RU5e V •\–n–n• s~DIkOSe\L Y{O]Mdt<Y\_d_ w*qnRUVKR<>[ Y{O]R<TXl]IKLNL:Y\[]MPR<lfhkR<_dWxIkl]R<[QloOSe
MPTKR<VOSM ` w l OSen[QMdRUloe\` MdVOSRU[]RUlQO 3 ` IKlQR<[]l fY\VOmOSe
_PRFY\[QVxL:en[QR DR l]JK_dY\lQO]R<[ WK[Qe jMPTKR<lC_PMdV lvO]e O]hKRmen[QMdqnMPVZY\_jY\[QO]MdtU_dR<l nl]epYIKlQR<[ tFY{VN[QRFY\TNY\_P_ke\` O]hKR Y\[QO]MdtU_dR<l
C–
WaR<[QOSY\MdVkMdVKqO]e YpqnM nRUVNl OSen[ w
s~ [QR<t<RUVOfY{VZY\_PwjlQMdlCMdVkTKMdt<Y{OSRUlsOShZY{OR lQJK_^Y\l OSRU[ [QR<tUR<M\R<l OSRUVKl
e\` OShKe\IKlSY\VkTKlDe{`vhKM OSl Y
TZYFw Y\VKTXhZY{lDY _^Y{[]qnRlQRUOe\` `ben_d_Pe5fRU[]l
€ ;CCA 9 C9 ;
1 M6 %<! 1 * 1
~ :
L Y\MdV>tUenVOS[QMdJKIkO]MdenV"e{` O]hKMdl8TKMdlQl]R<[ O|Y{O]MdenV"MPl
hKR WK[]MPL Y{[Qw&qneY\_
Mdl*Y2LNRUO]hKejT hKMdt|h MdLNWK[Qe \R<l*O]hKRxiIZY\_dM O w.e{`O]hKRxWK[QeTKIkt<R<T0O]RjOSl JaRUwne\VKT…O]hKRx_dRnRU_oe\`
l]IkL:L:Y\[]MPR<l Wk[]ejTKIKt<RUT JwRjOS[]Y\tUO]MdenV LNRUOShkeTKl8Y{VKT MdlxY\_Pl]e0TKe\L Y\MPV. MPVKTKRUWRUVKTKR<VOXY{VKT
[]e\JKIKlQO R<tFY{IKl]RenIK[ qnR<VkR<[SY OSMde\V LNRUO]hKejT [QR<IKlQR<l8Y\VKT&Y\_PO]R<[]lmWkhK[SY\lQR<l `b[]enL@OShKR MdVkWKIkODY\[QO]M t<_PR<l R Y \enMdT"OShkR:VKRUR<T`ben[ Y\VR<_^Y{Jen[]Y{OSR
lQR<L:Y\VOSMPt
L:ejTKR<_Ce{` O]hKR TKenL:Y\MdV2[]RUiIKMd[QR<TJw
OS[]Y\TKM OSMde\VZY\_ qnR<VkR<[SY OSMde\V$L:R OShKejTKl 3 V O]hKR IKWat<e\L:MPVKq t|hZY{WkOSRU[]l fRxlQhK5e @O]hZY{OOShKRxL:Y\MdV
lQO]R<WKle\`fO]hKR qnRUVKR<[]Y{OSMPenVWK[]ejt<RUl]l*t<Y\V.JaR WaR<[ `ben[]LNR<TJZY\lQR<T0enV`bRFY{O]IK[]RUlR jO][SY\t OSR<T `b[]enL
OShkR
MdVKWKIO TKetUIKLNR<VOSlpY\VKT VK5e _dRUTKqnRNY\IkO]enL:Y{OSMPtFY\_P_PwxTKRU[]M nR<T2`b[]e\Lƒ_^Y{[]qnRO]R jO t<e\[]Waen[S;Y 3 V WZY\[ OSMdtUIK_^Y{[ < R Wk[]enWaenl]RUT VkR (Y{_dqnen[QMPO]hKL:l `ben[
tUenVOSR<VONl]RU_dRUtUOSMPenV l]RUVOSR<Vkt<R e\[]TKRU[]MdVkq
Y\VKT l]RUVOSR<Vkt<Rq\R<VKRU[SY{O]MdenV MPO]hKMdVXY
lQIKL:L:Y\[ w B 1 >?M)?% #+5 . 1 > 1 /O+) . ! 1 % 1 5 1 > 1*. 1 ?M%"! 1
Kh R*qnenY\_ge{`COShKMPl
Y\_Pqnen[QMPOShkL MPlqnM nRUV Y t<en_P_dRUtUOSMPenV e\`[]R<_dY{OSRUT lQR<VOSRUVKt<RUlpOSe…qnR<VKRU[SY{O]RY…lQR<VOSRUVKt<R
hKMPt|h2MdVKtU_dIKTKRUlOShKR
MPVk`ben[QL Y{O]MdenV t<e\L:LNenV2Y\tU[]enlQlzL:enl OzMdVkWKIkO l]RUVOSR<Vkt<R<l hKR
[]R lQRFY\[Qt|ht|hKY\_d_PR<VKqnRUlzMdV>TkRnRU_denWkMdVKqxlQIKt|h.Y{V2Y\_dqne\[]MPO]hKL Y\[QROShKR
MPTKR<VO]MPcZt<Y{OSMPenV>e\` OShkR
`b[]Y\qnLNR<VOSlŠt<e\V*\RUwjMdVkqt<enLNLNenV MdVk`ben[QL Y OSMde\V Y\VKTO]hKR L:R OShKejTp`be\[ŠO]hKR<MP[Št<enL*JkMdVZY{O]MdenV
MPVO]epYplQR<VOSRUVKt<R fe\L:LNenV MdVk`be\[]L:Y{OSMPenV*Mdl MPTKR<VOSM cZR<TNJw Y\_PMdqnVKMPVKql wVOSY\tUO]Mdt OS[]RUR<l e\`
MPVKWKIkO8l]R<VO]R<VKtUR<lŠJZY{l]R<T2enV WZY\[SY{WKhK[SY{l]MdVkq MdVk`be\[]L:Y{OSMPenV ~-OS[QR<R*RUVKt<e\L:WZY{l]l]MPVKq OShkR
[QR<l]Ik_POSMPVKq Y\_PMdqnVKLNR<VO Y ` OSR<[ YzlQR<[]MPR<l e\`aOS[]Y\VKlQ`be\[]L:Y{OSMPenVKlsMPlC_dMdVkRFY\[Q0M /<RUT
MdVOSe YzlQR<VOSRUVKt<R
CC
IKlQMdVKq:Y _^Y\VKq\IZY\qnRzLNeTkR<_&
~8tUt<en[QTKMdVkqNO]e:enIk[R{Y\_dIZY OSMde\VkOShkMdl L:R OShKejT nq R<VKRU[SY{O]R<lDY
qn[]Y\LNL Y{O]Mdt<Y\_lQR<VOSRUVKt<R hKMdt|h:Y\tUt<IK[]Y{OSRU_Pw
l wVO]hKR<lQM0/<RUlfMPVKWKIkO WKhk[SY\lQR<l MdV :
L e\lQO tFY{l]R<l
1 > 1*. M5=?M 1 Kh R:WK[]enJk_dR<Lƒe\`oen[QTKR<[QMdVKq&MdVk`be\[]L:Y{OSMPenV>MdVL*IK_ OSM TKejt<IKLNR<VO
lQIKL:L:Y\[QM0/FY OSMde\V8l]emO]hZY{O}OShkRCqnR<VKRU[SY{O]R<Tpl]IKLNL:Y\[QwDMdlŽtUenhKRU[]R<VOghZY\l}[QR<t<RUM\R<Tp[]R<_dY{OSM nRU_Pw
_PMPO]O]_dRCY O]OSRUVOSMde\V
hKMP_dR l]RUVOSR<Vkt<Roen[QTKR<[QMdVKq `ben[ l]MPVKqn_dR TKejt<IkL:RUVOgl]IkL:L:Y\[]M /FY{O]MdenV t<Y\V
JaR TKR OSRU[]LNMdVKRUT.`b[]enL O]hKR en[QTKR<[QMdVKq&e\`mlQR<VOSRUVKt<RUlNMPV O]hKR MPVKWKIkO*Y\[QO]Mdt<_PR ŠOShKMPlMPlVKe{O
O]hKRt<Y\l]Rp`ben[DLIK_PO]M TketUIKL:RUVODlQIKLNL Y\[Q0M /<Y{OSMPenV hKR<[QR*l]IkL:L:Y\[QwXlQR<VOSRUVKt<RUlzL YFw JaR
TK[]Y V `b[]enL TKM RU[]RUVOfMdVKWkIkOmY\[ OSMPt<_dRUl e*IKVkTKR<[QlQO|Y{VKT OShKRDWK[]e\WRU[QOSMPR<l e\` Y\t<tUR<WkOSY\JK_PR
en[QTKR<[QMdVKq\l R.tUen_d_PR<tUO]R<T Y…tUen[]WKIkl e\`L*IK_PO]MdWK_PR"Y\tUt<R<WO|Y\JK_PR e\[]TKRU[]MdVkqnl Y\VkT IKlQR<T
lQR<iIKR<Vkt<R2Y\VZY{_Pwjl]MPlNLNRUO]hKejTKlNO]e.l OSIKTkw O]hKR<lQR>en[]TkR<[]MPVKqnl oY\l]RUTenV enIK[ cZVKTKMPVKqnl R:TkR nRU_denWaR<T.Y\Ven[]TKRU[]MPVKq Y\_dqne\[]MPO]hKL hKMdt|h IkOSMP_d0M /UR<ltUenhKRUl]Mde\V.Y\VkT.t|hK[QenVKen_PenqnMdt<Y\_
MPVk`ben[]L:Y{O]MdenV:TKR<[QM nRUT&`b[QenL MPVKWKIkOmO]R jOSl kh RY{t<t<Ik[SY\t wxe\` MdVk`be\[]L:Y{OSMPenV:`bIKlQMdenVxtU[]M OSMdt<Y\_d_ w TKR<WaR<VkTKl enVXMPOSloY\JKMd_PMPO w
O]eNMPTKR<VO]MP` w
WZY\[]Y\WKhK[]Y\l]RUl{l]MdVkt<R MdVKWKIOgTketUIKL:RUVOSlvL:YFwzTKRUl]t<[QMdJaR O]hKR lSY\LNR MdVk`ben[QL Y OSMde\VzIKl]MPVKqDTkMR<[]RUVO
en[]TKl
hKR<[QRU`ben[QR 8O]hKR"MdV \R<lQO]MdqY OSMde\Ve\`WKY\[SY\WkhK[SY\lQMdVKq0LNR<t|hKY\VKMdlQL:lxMPlXY\VKe\O]hKR<[ `bejt<Ikl
e\` OShkMdlO]hKR<lQMdl hKMdl
MPL:Waen[QOSY\VO_dY\VKqnIKY\qnR WKhkR<VKenLNR<VkenV Mdl*_dY\[]qnRU_PwIKVZY{t<t<e\IKVOSR<T…`ben[*MPV
OShkRx_dMdVkqnIKMdl OSMPt:_PMPOSRU[SY{O]IK[]R CY\VKT fY\l VKe\O
TkMd[]RUtUO]_Pw.Y\TKTK[QR<l]lQR<T…MdV0WK[QR jMde\IKl u[QR<lQRFY\[Qt|h RDhZY \R8TKR nR<_PenWaR<T
fe{OShOShKR TZY{O|Y Y\VkTOShKR"LNRUO]hKeT Y{[]R"TKRUWZY\[QO]IK[]RUl `b[]enL WZY\l O
Y\WKWk[]eY\t|hkR<l
Q
1 O=; ?>#O+5 ) ?%( 1 1 > .M9*1 =+L>A5= 1 > =; %(!%(; 9 !%NO+
!6 % > , . !;**
8 !; = ;=%(!%(; 9 !%NO % . * ! 1
fR WK[QenWe\l]R<TIKl]MPVKqY\lvY8t<e\[]WKIKl `ben[vWKY\[SY WKhk[SY\lQRY\tUijIkMdl]M OSMPenVYtUen_d_PR<t OSMde\VNe{` OSRjOSl hKMPt|h Y\[QRDRUMPO]hKR<[ WZY\[]Y\_d_PR<_Ken[ t<e\L:WZY{[SY\JK_PR
`ben[DRkY\LNWK_dRpL*IK_ OSMPWK_dR CVKqn_PMdl]h&OS[SY{VKl]_dY{OSMPenVKle\`sOShkR*lSY\LNRlQenIK[Qt<R*OSR jO []M O]OSRUV>MdV Y
C•
`ben[QR<MPqnV_dY\VKqnIZY{qnR{en[gLIK_PO]MdWK_PR VkR l Y\[ OSMdtU_dRUlvY\JaenIkO OShkRolSY\LNRfRnRUVO
hKR<lQRoO wjWRUlse\`
O]R jOSloWk[]5e jMdTKRDL Y\Vw MPVKlQOSY\VKt<RUloe\`}WKY\[SY\WkhK[SY\lQMdVKq;jJaR<t<Y\IKlQR8OShKR w Wk[]R<lQR<[nROShkR8LNRFY\V.
MPVKq:e{`sOShKRpen[QMdqnMPVZY\_ŽlQenIK[]tUR JKIkOL:YFwXIKl]RTKMR<[QR<VO fen[QTKlDO]e tUenV nRUw&OShKRpLNRFY\VKMPVKq
HIkt|h Y&t<e\[]WKIKlVKe\OenVK_Pw"wjMPR<_dTklY WKY\[SY\WkhK[SY\lQR:O]hKR<l]Y\IK[]Ikl*VKR<RUTKR<T$`be\[MPVk`ben[]L:Y{O]MdenV
`bIKlQMden-V sJKIkO M O*Y\_Pl]e"Y{_d_d5e lpOShKRxRUL:WKMP[]MPtFY\_ lQO]IKTkw.e\` WZY\[]Y\WKhK[]Y\l]MPVKq OSe"tUenLNWK_dRUL:RUVO
_PMdVKqnIkMdlQO]MdtOShKRUen[]MPR<l Y\JaenIkOmO]hKMdl WKhKRUVKenLNR<VZY.
- ) M 9 6 ;*%<M%<; 9 !%NOA% . = > 1
.RzJKY\l]R enIK[fL:R OShKejT `ben[oWZY{[SY\WKhk[SY\l>
MPVKqDRjOS[SY{tUOSMPenVe\VOShkRfY\lQl]IKLNWkO]MdenVpOShZY{O WKhk[SY\lQR<lsMPVY\_PMdqnVkR<Tpl]R<VO]R<VKtUR<l8 hKMPt|h
Y\WKWaRFY{[
MPVl]MPL:MP_^Y\[t<enVOSRjOSlxY\[QR WZY{[SY\WKhk[SY\lQR<l
hKR>tUe O][SY\MPVKMdVkq Y{_dqnen[QMPO]hKLŒ_PRFY\[QVKl# hkMdt|h
tUenVOSRjO]l8Y\[QRzqnejeTXWK[QR<TKMPtUOSe\[]lme\`gWZY\[]Y\WKhK[]Y\l]RUlDJwXY\VKY\_Pw /<MPVKq
t<e\VO]R jOSll]Ik[][]e\IKVKTKMPVKq
MPTKR<VOSMPtFY\_ en[]Tkl*MdV.Y\_dMPqnVKR<T l]RUVO]R<VKtUR<l
hKR<lQRxt<enVOSR jOSl Y\[QR IKlQR<T$OSe&R jOS[]Y\tUO*VKR WZY{[SY\WKhk[SY\lQR<l hkMdt|hMPV…O]IK[]VY{[]R IKl]RUTOSe _dRFY{[]V…L:en[QR&tUenVOSR O]l IK[ Y{_dqnen[QMPO]hKL
wjMdRU_dTKl:WKhK[]Y\lSY\_DY\VKTl]MdVkqn_dR fe\[]T_dR MdtFY{_WKY\[SY\WkhK[SY\lQR<lxY{l fRU_d_DY\l lQenLNR lQwjVO|Y{tUOSMPt
WZY{[SY\WKhk[SY\lQR<l
hKMdlxLNRUO]hKejT Y\TZY\WkO]lxMPO]l]R<_ `zOSe0WZY{[SY\_P_dR<_DY\VKTtUenLNWZY\[SY{JK_dR>tUen[]Waen[]Y
TkwjVZY{L:MPtFY\_P_Pw IK[XR {Y\_PIZY{O]MdenV R WaR<[QMdLNR<VOSl l]hK5e O]hZY{OXOShKR Y\_Pqnen[]M OShKL R jOS[]Y\tUO]l
WZY{[SY\WKhk[SY\lQR<l M OSh:hKMdqnh:Y\tUt<IK[]Y\tUw:Y\VKT:l]MPqnVKMPcKtFY\VOS_ w
enIkO]WRU[Q`ben[QL:l Y lQO|Y OSR e\` O]hKR Y\[QO
Y\_Pqnen[QMPOShkL TkR nRU_denWaR<T `ben[m[]RU_^Y{O]R<TxO|Y{l lDMPVxL Y{t|hKMdVKRzO][SY\VKlQ_^Y{O]Mden-V kh R L*IK_ OSM TKejt<IKLNR<VO lQIKL:L:Y\[QM0/FY OSMde\V"lQwjlQO]R<L 1&IK_PO]M yzR<VWK[]e5jMdTkR<l*YXt<e\VO]RjO`be\[
OShkR MdV nRUlQO]MdqY{O]MdenV TKR<lQt<[QMdJaR<T Y\Jae5nRxY\VkT0MPOY\_dlQe l]RU[:\R<lNY\l
Y Wk_^Y{OQ`ben[]L `ben[9nRU[]MP` wjMPVKq OShkR
Y\TKRUiIZY\tUwXe{`gO]hKR WK[]enWaenlQR<T l]IKLNL Y{[Qw q\R<VKRU[SY{O]MdenVXlQO][SY{O]R<q\w MdV YN[QRFY\_ fen[Q_dTXl]R O]O]MdVKq
9>5 465 =*9F;"9F;>7 € =Ov5zA
C—
Kh RpOShKRUl]Mdlt<e\VOSY\MdVkl O e MPVO]R<[Qt<enVKVkR<tUO]R<T>WKY\[QO]l
hKR cZ[QlQODWZY\[QO fhKY\WkOSRU[ • fhKY\WkOSRU[ — MdlTKR<TKMPtFY{O]R<T$O]e"WZY\[SY{WKhK[SY{l]MdVkq8 hKMP_dR O]hKR l]RUt<enVkT…WKY\[QO fhZY\WkO]R<[ fhKY\WkOSRU[ .fhZY\W OSRU[ m`betUIKl]RUlzenV"MdVk`be\[]L:Y{OSMPenV `bIkl]Mde\V hKMPt|h"IKl]RUlzWZY\[]Y\WKhK[]Y\l]MPVKqxY\lzY{V"R<l]lQR<VOSMdY\_slQenIK[]tUR
e\` VK5e _dR<TkqnR fhKY\WkOSRU[ • WK[]RUl]RUVO]l JZY\t qn[]e\IKVKTXMdVk`be\[]L:Y{OSMPenV enV OShKR8WKhKR<VkenL:RUVKenVXe\`ŠWZY{[SY\WKhk[SY\>l MdVkq 3 O[QR jMdR lDOShkRpLNenl OD[QR<_PR {Y\VO_dMdVkqnIKMdl OSMPt8OShKRUen[]MPR<l Y{VKT&MPTKR<VO]MPcZRUlqnY\WKlMdVxOShKRUl]RpOShKR en[QMdR<l hKMPt|h hKMPVKTKR<[ OShkRJKIkMd_dTkMdVKq e\`sY:t<e\L:WKIO|Y{O]MdenVZY{_ŽL:ejTKRU_}e\`CWZY\[]Y\WKhK[]Y\l]RUl e JK[QMdTKq\R
l]e\L:R e\` OShKRUl]RpqY\WKl fRpWaR<[Q`be\[]LNR<T Y
L Y\VIZY{_ŠY\VZY\_ wlQMdlme\`vY t<en[QWKIKl []MPt|h&MPV WKY\[SY\WkhK[SY\lQR<l hKRp[]RUl]IK_ OSl e\` OShKMPl Y\VZY\_ wlQMdl Y\[QR Y\_dlQe TKMdlQt<IKlQl]R<T&MdV fhZY\WOSR<[ • ~DVxIKVKlQIKWRU:[ jMdlQR<TXLNRUOShkeT `be\[fWZY\[]Y\WKhK[]Y\l]RY\t<iIKMPl]MPO]MdenVNMdl TKR<lQt<[QMdJaR<TxMdV fhZY\WkO]R<[ — ~TKR<lQt<[QMdWkO]MdenV e\` OShKRpWZY\[]Y\_d_PR<_ŽY{VKT tUenL:WKY\[SY\Jk_dRtUen[]Waen[SY IKlQR<T&`be\[ O]hKMdl l OSIKTkwXMPlmWK[]5e jMdTkR<T
MdVXOShkMdl t|hZY\WkO]R<[ .RWK[]RUl]R<VOY\V R O]R<VKlQM \RR {Y\_PIZY{O]MdenVXe\`sO]hKRY\_dqne\[]MPO]hKL@Y\VKT>Y{VZY\_PwjlQMdl e\`
R jO][SY\t OSR<T&WZY\[]Y\WKhK[]Y\l]RUl hkMdt|h lQhKR<TklD_PMdqnhOmenVXlQenL:R iIKRUlQOSMPenVKl [SY{Mdl]RUTXMdV fhZY\WkO]R<[ • hkRpVkR jO O fe t|hZY\WOSR<[Ql8Y{[]RzTKRUTKMdt<Y{OSRUTXO]e
MdVk`be\[]L:Y{OSMPenV:`bIKlQMden-V fhZY\WkO]R<[ `betUIKl]RUl
enV0OShkRxl]R<VO]R<VKtUR `bIKlQMdenV0LNRUO]hKejT Y\VKT t<5e \R<[]lNY\_Pqnen[QMPOShkL:l `ben[*l wVOSY\tUO]MdtxOS[QR<RXY\_PMdqnVKLNR<VO
Y\VKT&Y
L:R OShKejTx`ben[ t<enLJKMdVKMPVKq*OS[QR<Rz`b[SY{qnL:RUVOSl MdVOSe Y l]RUVOSR<Vkt<R RUt|hKVKMPijIkR<l8`ben[me\[]TKRU[]MdVkq
qnRUVKR<[]Y{OSRUT>l]RUVO]R<VKtUR<lMPVOSe:Y:t<e\hKR<[QR<VO8O]R jOY{[]RpTKMdlQt<IKlQl]R<T"MPV fhKY\WkOSRU[ hKR<lQRt|hZY{WkOSRU[]l
Y\_Pl]emMdVkt<_dIkTKRvOShkR TkMdl]tUIKl]lQMdenV e\`[]RU_^Y{O]R<T en[ Y\VKT QIKlQO]MPcZt<Y{OSMPenVKlŽ`ben[ t|hKee\l]MdVkqe\IK[}Y\WKWk[]eY\t|-h 3 V Y\TKTKM OSMPenV
OSeYptUenL:WaenVKRUV:O JKY\l]RUT R {Y\_PIZY{O]MdenV
[QR<Waen[QO]R<T MPV fhZY\WkO]R<[ Y\VkT fhZY\W OSRU[ . R WK[]RUl]R<VOvY\Vpe \R<[]Y\_d_l wl OSRULR {Y\_dIZY OSMde\VzMdV fhZY\WkO]R<[ ;
hKMdlŠt|hZY{WkOSRU[gTKMPl]tUIKl]lQR<lgO e
R {Y\_PIZY{O]MdenV R en[QO]l OShKR[]RUl]IK_ OSl8`b[QenL Y r~ Dua~-lQWenVkl]en[QR<T2t<enLNWaRUOSM OSMPenV&e{`Cl]IKLNL:Y\[]M /FY OSMPenVxlQwjl OSR<LNlDY\VKT Y\VXR {Y\_PIZY{OSMPenVxe\8` 1&IK_ OSM^y RUVxMdVxOShKRztUenVOSR ODe\`fen_dIkL*JKM^Y DR lQJK_^Y{lQOSRU[
JK[Qe lQMdVKqNlQwjl OSR<=
L R
D
R
=D
R
F MdVZY\_P_Pw fhZY\WkO]R<[ E
CR
]l IKLNL:Y\[]M/<R<lmO]hKRO]hKR<lQMdl ne [:&Y{VKT WaenMdVO]lDenIODO]hKR_PMdLNMPO|Y OSMde\VKl
Y\l R<_d_ŠY{loOShKRz`bIkO]IK[]R TKMP[]R<t OSMPenVKlme\` OShKMPl fen[: C
- $ +$ ) ;" )) <4 0) ;" $ 0) -9! $ ;" ) " ) < $ $ ) <
"< 9$> ! $ $) !#" 0)90)6" ; "$ ;" $
$ )6" )$ $ > ; $ )$)
" = ( ;"< $ " ; < ! $>=$% 9 (;5< ( ) ( 2$ < "0) )
$)'
! $ " ; ".; )) ) " >'+$ )$ ;= $> 0)$> %";) $ ) +
< $ '$ 9 $ )
) ( <= $ 0)9! $ ".; ; $ )9( < 9 $ ( $ " "< < $# + ,50) ; 0) 0) "
% ]rR<Y\T uvY\[Q[]e\O8H.{ RUOSt|h Jw &1 enVO wXuswOShKe\V
ugY\[SY{WKhK[SY{l]R<lgY\[QR Y{_POSRU[]VZY OSM\ R<o YFwjlŠOSe t<enV \ RUw OShKR l]Y\L:RCMPVk`ben[QL Y{O]MdenV-Ž
~8lŠRk Y\LNWK_PR<l
t<e\VKl]MPTKR<[OShKRp`ben_d_Pe MPVKq TKMR<[QR<VO f YFwjlOSe l O|Y{O]RO]hKR` Y\t O hkRWZY\[Q[]e\ODMdlDTKRFY{T ;" $ ;" ) " ) < $>#
*Y\VKT
0) 0) " ; "$ ;" $ 3 V O]hKR ]rR<Y\T ugY\[][Qe\OH.{ RUO]t|h Jw
1 enVO wXuswOShkenVZ OShKMPlf` Y\t O Mdlmt<e\V*\ RUw\R<T>MPVxL:en[QR8OShKY\V C *TKMR<[QR<VO o YFwjl
~3[]R<Y\TKRU[ enIK_PT
&
[]RUt<enq\VKM0U/ RN`b[QenL RFY\t|h0e{`oOShKRNl]RUVOSR<Vkt<R<l*O]hZY{OOShKR:Y\IkO]hKen[p[]RU`bRU[]lpOSe&O]hKR l]Y\LNRN` Y\t O*Y{JenIO
OShkR:WZY{[][]e{OŠ TKR<lQWKMPO]R:lQIK[Q` Y{t<RNTKMR<[QR<VKtUR<lpMdV2OShKRNY\t OSIZY\_ Rk Wk[]R<lQl]MPenVKlIkl]R<T-
F IK[QO]hKR<[QL:e\[]R
Y\_P_ &
1 enVO w uswOShKenV l n RU[]JZY\_PM0</ Y{OSMPenVKlme\` OShKRpl]RUL Y{VO]MdtzWK[QR<TKMPtFY{O]R OSeNTKMdR TKe:Vke\Om`ben[]L Y\V
$ )
CD
RhZY{IKlQO]MnRx_PMdl O
3 VKTKRUR<T Y\V$e\JKMPO]IZY\[Qw [QMPOSRU[9 enIK_PT$JaR L:e\lQO_dM0{R<_ w"OSe>lQR<_dRUtUO
TkMR<[]RUVO
WKhK[]Y\l]RUlO]e nR<[QJZY\_PM0/<RzO]hKMdlmtUenVKt<RUWkO
hkMd_dR8l]WaRFY {R<[]le\`gY*_^Y{VKqnIZY\q\RTKRFY{_- MPO]hxWZY\[SY{WKhK[SY{l]R<lmRnRU[QwXTZYFw MPVXY\VXR en[QO]_dRUl]l
l]t<Y\[]tUR<_ wt<e\VKl]tUMdenIKl D` Y\lQhKMde\V mOShKR"WK[QR<lQR<VKtUR e\`pWZY{[SY\WKhk[SY\lQR<lXqn[]R<Y{OS_ wtUenLNWK_dMPtFY{O]R<l Y{IkOSe L:Y{OSMPtz_^Y\VKq\IZY\qnR WK[QetUR<l]lQMdVK;q 3 V>Y:hwjWae\OShKR OSMPtFY\_Š_^Y{VKqnIZY\q\R hkR<[]RWZY\[]Y\WKhK[]Y\l]MPVKq:TkeRUlDVKe{O
RMPlQO l]RUL Y\VO]Mdtt<enVKtUR<WkO]lmhZY nRIkVKMdiIKR \R<[QJZY\_dM /FY{O]MdenVkl Y\VKT O]hIKl L Y\VwNt<e\L:WK_PR u
O|Y{l l bR q MPVk`ben[]L:Y{O]MdenV R jOS[SY{tUOSMPenV iIKR<l OSMPenV>Y\Vk:l R<[]MPVKq aMdTKRUVOSMPcKtFY{O]MdenVXe\`v[]R<WaRFY OSR<T&Md.V `ben[QL Y{O]Mden-V kRUO]t NtUenIK_dTXJaR []R<TkIKt<RUT OSeNlQO][]MdVkqNL:Y{O]t|hKMdVKq WK[QenJK_PR<LNl en[mMdVKl O|Y\Vkt<R ZMPVxOShKMPl
l]tUR<VZY{[]Md;e kY\_P_ZOShKRDenJ QR<t OSloe{` fMd_P_ f_dMPVO]enV lfY RUtUOSMPenVKl t<enIk_dT JaRDMPTKR<VO]MPcZRUT Jw:lQtFY\VkVKMdVKq*Y\V
Y\WKWk[]enWK[QM^Y{O]R*VKR ltUen[]WKIkl `be\[ Y\_d_ ŽlQIKt|h O]hZY{OzOShkR
WKhK[SY{l]R ; +$ ;0 ) Y\WKWaRFY\[Ql
MdVxO]hKR t<en[QWKIKl aY\lQl]IKLNMdVkq O]hZY{Ol]RUL Y{VO]Mdtz[QR<_^Y OSMde\
V Q_d5e nR ' NMdl nRU[]JZY\_P0M /UR<T&Y\l _d5e nRUl
;
3 V [QRFY\_PMPO w ŽOShKMPlOSR<t|hkVKMdiIK4R fe\IK_dT2WK[QeTKIkt<RNWejen[[QR<l]Ik_POSl Šl]MdVkt<R MPO TKejR<l VKe{OpY\t<tUenIKVO
`ben[mWZY{[SY\WKhk[SY\lQR<le\`vlQIKt|h lQR<VOSRUVKt<RUl ~`bIK_P_Žl]RUL Y\VO]Mdt MdVOSRU[]WK[QRUOSY{OSMPenV&e{`sY\V&MdVKWkIkO OSR jO fe\IK_dT&Y\_d_P5e enVkR O]e:R<Y\l]MP_PwxtUenWaR
MPO]hO]hKR WkhKR<VKe\L:RUVKenV.e{`oWZY\[]Y\WKhK[]Y\l]MPVKq D5e fR nRU[ Y\V MdVOS[QMdqnIKMPVKqxiIKR<l OSMPenV.MP9l hKR OShKRU[
Rt<Y\VNMdTKRUVO]MP` wWZY\[SY{WKhK[SY{l]R<l e\` Y qnM \R<V WKhK[]Y\l]R IKlQMdVKqp_dMPVKqnIKMPlQOSMPt TkR jMdtUR<l MPOShkenIkO YzTKMd[QR<t O
L:Y\WKWKMPVKq8`b[]e\L en[]Tkl O]ezl]RUL Y\VO]Mdt<l fR<[ O|Y\MPV*O wjWRUl e{`WKY\[SY\WkhK[SY\lQR<l Y\WKWaRFY{[vOSe JaRolQwjlQO]R<L Y{O]Mdt8MPV VZY OSIK[]Y\__dY\VKqnIKY\qnR e\[fR kY\LNWK_PR jl]e tFY\_P_dR<T Y\tUO]M \RzY\VKT WKY\l]lQM nR \enMdtUR8lQR<VOSRUVKt<RUlDMPV
CVKqn_PMdl]hxtUenV nR wxR<lQl]R<VO]M^Y\_P_PwNOShKRzl]Y\L:R8L:R<Y\VKMdVkq RztFY\VXMdTkR<VOSM ` w:O]hKR<L@Jw Y*L:RUt|hZY\VKMPtFY\_
t<e\L:WZY{[]MdlQenV
e\`aWZY\[Ql]RmOS[QR<RUl OShKMPlCWK[]ejt<RUl]l TKejR<lCVKe\O [QR<iIKMP[]Rml]RUL Y{VO]MdtmMPVO]R<[QWK[]R O|Y{O]MdenV
e\`aOShkR
l]RUVOSR<Vkt<R<l 7DlQMdVKq O]hKR<lQR l]hZY\_P_d5e _dMPVKqnIKMPlQO]MdtpTKR jMdtUR<lzMPlzY\V"R R<t OSM n6
R fY w OSexqn[]Y\WKWK_PR MPO]h
WZY\[]Y\WKhK[]Y\l]MPVKq MdV TKenL:Y\MPVK<l hKR<[QRDTkR<R<W:l]RUL Y\VO]MdtY\VZY\_ wjl]MdlCMPl hZY\[]-T Y{l MPl `ben[CR KY{L:WK_PR OShkR
TKenL:Y\MPVxe\`gO]enWKMPt MPVKTKRUWRUVKTKR<VOVKR l]WZY\WaR<[TZY{OS;Y hkRzWK[]MPL Y\[ w qneY\_ae\`}O]hKMdl t|hZY\WkO]R<[oMPl OShkRlQO]IKTkw e{`ŠL:RUt|hZY\VKMPl]LNl OShKY{OmtFY{V WK[]ejTKIKtUR
Q
F
F
CE
WZY\[]Y\WKhK[]Y\l]RUlY\l YcZ[]l O lQO]R<WXOSe5oY{[]TKl JKIKMP_dTKMPVKq*Y
LNeTkR<_`be\[fOShKRUMd[otUenLNWKIkO|Y OSMde\V TKR<lQt<[QMdJaR<T
MdV fhKY\WkOSRU[ — hkMd_dR OShKRmL:Y\MPV*l]enIk[]t<Rme{`MPVk`ben[QL Y{O]MdenVMdV*e\IK[CMdV nRUlQO]MdqY{O]MdenVMdlvO]hKRm_dMPVKqnIKMPl
OSMPt<lD_dMPO]R<[]Y{OSIK[QR fRl]IKWKWk_dR<LNR<VOzM O M OSh>L:Y\VIZY\_gY\VZY{_Pwjl]MPl8e\` tUen[]Waen[SY:[]Mdt|h MdV WKY\[SY\WkhK[SY\lQR
ejt<t<Ik[][]RUVKt<RUl
RUwne\VKT"WK[SY{qnL Y OSMdt JaR<VKR cKOSl l OSIKTkwjMPVKq OShkR<l]RTKRjMPt<R<l8tFY\V&l]hKRUT"_dMdq\hOenV OShKRWKhKR
VKenLNR<VkenV e\`WZY\[]Y\WKhK[]Y\l]MPVKq hKMPt|h MPl&t|hZY{[SY\t OSR<[QMdl OSMdt2e\`*Y\_d_zVKY{OSIK[]Y\_ _^Y\VkqnIZY\qnRUl
\R<V
_dMPVKqnIKMPlQO]MdtFY{_d_PwVZY\M nRlQWR<Y \RU[]lme\`gY_dY\VKqnIZY{qnR8IKVkTKR<[QlQO|Y{VK=
T hKY{OmWZY\[]Y\WKhK[]Y\l]RUl Y\[]R HjOSIkTKMdRUl
`b[]e\L OShKR WKl wjt|hKen_dMPVKqnIKMPlQO]Mdt<l _PMPOSRU[SY{O]IK[]R KWK[QR<l]RUVOSR<T MdV&HR<t OSMPenV • • ZlQhK5e OShKY{Ol]WaRFY {R<[]lDe\`
YX_^Y\VKq\IZY\qnR
t<Y\V R<Y\l]MP_Pw []R<tUenqnVKM /<RNY\VKT WK[]ejTKIKtUR WZY\[SY{WKhK[SY{l]R<l e R \R<[ sMPO MPlpR jOS[]RUL:RU_Pw
hZY\[QTO]ex`ben[]L:Y\_d_ w TKRUcZVkR:WZY{[SY\WKhk[SY\lQR<lpMdV"TKRUt<_^Y{[SY{O]M nR
O]R<[]LNl #1&Y\Vw2_dMdVkqnIKMdl OS
l 8Y\_P_dMPTZYFw 8TKR fRFY\Ikqn[SY\VkTKR"Y\VKTr[]R<lQl]_PR<[ Y\qn[]RUR OShKY{O WZY{[SY\WKhk[SY\lQR<l [QRUO|Y{MdV ]Y{WKWK[]e M L:Y{OSR t<e\VKt<RUWkOSIZY{_gRUijIkM {Y\_dRUVKt<R fIODO]hKRR jOSR<VO8e\`sMPVO]R<[Qt|hZY\VKqnR<Y\JKMP_dMPO w JR O fRUR<V"WKhK[]Y\l]RUl
hKMPt|h…`ben[QL‡WZY\[]Y\WKhK[]Y\l]RUl:MPlNY\V e\WRUV iIKRUlQOSMPenV r[SY{l hKMdl MdlQl]IKR Mdl
TkMdl]tUIKl]lQR<T
MdVHjR<tUO]MdenV • — 93 V"OShKMPl8OShkR<l]MPl R
TKeXVKe\O Y{OQOSRUL:WkO8OSexTKR nR<_PenW Y TKR<tU_^Y\[]Y{OSM nR*TKR cZVKM OSMde\V
e\` WZY{[SY\WKhk[SY\lQR<l yzM \R<V>L*Ik_POSMPWK_dR WKMPR<tUR<lze\` R MPTKR<Vkt<R*OShKY{OhIKL:Y\VKlt<Y\V"[]RU_dMdY\JK_PwXMPTKR<VO]MP` w
WZY\[]Y\WKhK[]Y\l]RUl R Y\l]lQIKLNROShZY OzWZY\[]Y\WKhK[]Y\l]MPVKq MdlY t<enhKRU[]RUVO Vke\OSMPenV ŽY{VKT"t<enVkt<R<VO][SY{O]R
enV
_^Y{VKqnIZY\q\R TKR jMdt<RUlsOShZY OstFY{V*WK[]ejTKIKtURoWZY\[]Y\WKhK[]Y\l]RUl R<lQRFY\[Qt|h enVOShkR<l]RmTkR jMdtUR<lsen[QMdqnMPVZY{O]MdVKq
`b[]e\L6OShkRN_PMdVKq\IKMdl OSMdtpt<e\L:L*IkVKMPO w&MdlzWK[QR<lQR<VOSRUT$MdVHRUtUO]MdenV • <
nRUV O]hKenIKqnh2WZY{[SY\WKhk[SY\>l MdVkq0WK_^YFwjlXY0t<R<VO][SY\_z[Qen_dR>MPVO fe…_dMPVKqnIKMPlQO]MdtXOShKRUen[]MPR<l yzR<VKRU[SY{O]M nR [SY{VKlQ`ben[QL Y OSMde\VZY\_
yz[SY\LNL Y{
[ fhKenLNl w zY\VKT 1 RFY\VKMPVKq R O hKR<e\[Qw &1&RU_dtUI O]hKR<[QR Y\[QR
VIKLNR<[]e\IKl:qnY\WKlNMdV OShKR IKVKTKRU[]l O|Y\VKTkMdVKq$e{`8OShkMdl WKhKRUVKenLNR<VZY R IKVKTkR<[]_PMdVKRxO]hKR<lQR iIKR<>l OSMPenVKloMPVXHRUtUOSMPenV • .
MPVZY\_d_ w MdV HjR<tUO]MdenV • ; fR WK[QR<lQR<VOenIK[mY\VKY\_Pwjl]MPloe\` t<e\[]Waen[SY hkMdt|h
t<e\VOSY\MdVxlQR \R<[SY{_ nR<[QJZY\_P0M /FY OSMde\VKloe\`ŠOShkRzlSY\LNRl]RUL Y{VO]MdtMPVk`ben[QL Y{O]MdenV:MdVxY O]OSRUL:WOoOSe
JK[QMdTKq\R
OShkR<l]RpqY\WklDY{VKTxOSe R<LNWKMd[QMdt<Y\_d_ #
w {Y\_PMdTZY OSR_PMdVKqnIkMdlQO]Mdt OShKRUen[]MPR<lY\JaenIkO WZY{[SY\WKhk[SY\lQMdVKq CHG
CHGC
CHHH
R
CH E
F
D
CHGG
CG
R lQOSY\[QOmO]hKMdlft|hZY\WkO]R<[ MPO]h Y\VxMdVk`be\[]L:Y\_ TKRUcZVkMPOSMPenVxe\` WZY\[]Y\WKhK[]Y\l]RUl Y\VKT Y\VxMPVO][]e
z
TKIKt OSMPenVXe\`gO]hKRzOSRU[]LNMdVKen_Penq\w:IKl]RUT O]hK[]e\IKqnhKenIOO]hKMdlmt|hKY\WkOSRU[
=A =
AC= v 5 “
5 ?@= s 9
3V
PM Vk`ben[]L:Y\_kO]R<[QL:lWZY{[SY\WKhk[SY\lQR<loY{[]RWZY\Md[Ql e{`ŽIKVKM OSl MPO]h Y\WKWk[]eMdL:Y{OSR t<e\VKt<RUWkOSIZY{_ R<iIKM Y\_PR<VKtUROShKY{O8t<Y\V>JaRlQIKJKlQO]MPO]IkOSRUT>`ben[De\VKR*Y\Vke\OShKRU[8MPV L:Y\VwXt<enVOSRjOSl
uvY\MP[]l8e{`Cl]RUVO]R<VKtUR<l
Y\VKT WKhK[]Y\l]RUlMPV MPqnIK[QR • ` Y\_P_sMdVOSeXOShkMdl TKR<lQt<[QMdWkO]MdenV
uvY\[]Y\WKhK[]Y\l]RUlTke VKe\OphZY\R:OSe JaR
MdTkR<VOSMPtFY\_ MdVLNRFY\VKMPVKq hKRNcZ[]l O*WZY{Md[ e\`mlQR<VOSRUVKt<RUl
MdV MdqnIK[QR • `b[]RUijIkR<VOS_ w enIK_PT$JaR
OS[QRFY{O]R<TxY{loMdTKRUVOSMdt<Y\_ MdV:L:R<Y\VKMdVkq JKIkOmenVkR8tFY{V MdL:Y\qnMPVKRYt<e\VO]R jO hKRU[]R8O]hKR<lQRl]RUVO]R<VKtUR<l
enIK_dT VKe\ONJaR&lQIKJKlQO]MPO]IkO|Y\Jk_dR e\[NR kY\L:Wk_dR MP`
CL:L:Y2O]ee oY{_PO /X_PR<l]lQenVKl Y\_d_mhKRU[:_PMP`bR
MPO]hKenIkOfL*IKt|h Wk[]enqn[QR<lQl kO]hKRDcZ[QlQOmlQR<VOSRUVKt<Rze{`}OShKMPl WZY{Md[ lQOSMP_d_ t<e\*V \RUwjlYpO][]IKRWk[]enWaenl]M OSMPenV hKMP_dROShkRplQR<tUenVKT lQR<VOSRUVKt<RMdlmVKe _PenVKqnRU[oOS[]IkR ugY\[SY{WKhK[SY{l]R<lpY\[QR`b[QR<iIKR<VO]_Pw>tU_^Y\lQl]M cZR<T"MPV&OSRU[]LNle\`CO]hKR*[]RU_^Y{O]MdenVkl]hKMPW JaRUO R<R<V2OShkR
LNR<L*JaR<[Qle\`Y>WZY{[SY\WKhk[SY\lQMdVKq&WZY\Md[ hKR LNenl O*t<e\L:LNenVK_ w2IKl]RUT…tU_^Y\lQl]M cZtFY{O]MdenV Mdl_dR MPtFY\_
nRU[]lQIKlolQwjVO|Y{tUOSMPtDWKY\[SY\WkhK[SY\lQR<l hkRDWZY{[SY\WKhk[SY\lQMdVKqpWZY\MP[ r MdV Mdq\IK[]R • MPl Y\V:R kY\L:Wk_dR e\`
_dR MdtFY{_ZWZY\[SY{WKhK[SY{l]R kY\VKTNOShKRDY\tUO]M \R WKY\l]lQM nRDl]RUVO]R<VKtURzWZY\MP[ $MPV MdqnIK[QR • Mdl Y\V MPVKlQOSY\VKtUR
e\` l wVOSY\tUO]Mdt*WZY{[SY\WKhk[SY\lQR 5e fR nR<[ ŠL Y\Vw WZY\[]Y\WKhK[]Y\l]RUl8` Y\_P_ MPV JaRUO R<RUV2O extFY OSR<q\en[]MPR<l Y\lmMPVxWZY\[SY{WKhK[SY{l]MdVkqNWKY\Md[ k~8l R l]hK5e MPV HR<t OSMPenV • kOShKRzTkMdlQO]MdVKt OSMPenVxJR O fRUR<V&_dR MPtFY\_
Y\VKT lQwjVO|Y\t OSMPt WZY\[]Y\WKhK[]Y\l]RUl*Mdl R nR<V0LNen[QR:enWKY\iIKR:O]hZY\V.M OpL YFw2l]RUR<L’Y{OY cZ[QlQOqn_^Y\Vkt<R t<e\VKl]RUijIkR<VOS_ w fR TKeNVKe\O IKlQRpO]hKMdlmtU_^Y\lQl]M cZtFY{O]MdenVxlQt|hKR<LNR MPOShkMdV OShkMdlmOShKRUl]MPl 3 VklQOSR<Y\T fR"TKMPlQO]MdVKqnIkMdl]hWZY\[SY{WKhK[SY{l]R<lXMPVOSRU[]LNl e\` OShKRUMd[:qn[SY\VIK_dY\[]M O w Y.`bRFY OSIK[QR
hKMPt|hMdl:Y\_dlQeO]MdqnhO]_Pw0[QR<_^Y OSR<T…OSe L:RUt|hZY\VKMPl]LNl:e\`8WZY\[]Y\WKhK[]Y\l]R&WK[]ejTKIKt OSMde\V Mdq\IK[]R • Md_P_dIKl OS[]Y{OSRUlWZY\[]Y\WKhK[]Y\l]RUl
e\`TKMR<[QR<VO
qn[]Y\VIK_^Y{[]MPO w en[]Tkl r sWKhK[]Y\l]RUl y Y{VKT0l]RU.V F
C
F
C
F
F
F
F
C
C
R
F
C
CH
66 / $:=5B> :05 C .05 C >F5C > ;K
66 . $:05 3 0< G5 >4C D> %/A: =K
-!.=< F>F/23 A<HC 71@C F6
/21F3 =1E1 < [email protected]/23 .*8 F5 3 F< / > .0/ ;. E<%8
> >F/A5;: K
-!.0< 8 ;8G< @C 71 .05B> < B>F< 03 =1F/A: G:0< 5 =8 F5 K
C 5 5 <%:$I ;6<
I B6<H6 < 5BI C 5 5
< >E<
/21F3 =1E1
A/ 8 B:?>F< >E5;6 >E5 =1 . K
>F576 >F5 G1 .C ;1 8 B:?>F<
/K
5 0/21@1 5 $>E.0< G5 5 >F5 45 <6/A<;K
45 <6/A< 95 7.7>!>E.0< G5 5 I F576 5 0/21%K
>E5 B/A6 >F.=< 0:=1
>F5 7<>@>F.=< G< 1 > E/A: B: < 1%K
!
#"$
%'&
%
(
# )
*
+
,
3+
%'& ,
.
$ /
2
<
%-
9:; #
?
6
>=
OSRUVKt<RUl b ~'
"- 3
,
45
2
10
%78"
<
3
; .
F MPqnIK[QR • C 8KY{L:WK_PR<l e\`gWZY\[]Y\WKhK[]Y\l]RUl
F vHjenL:R e\`fOShKRUl]R WKY\Md[Ql `ben[pRkY\LNWK_dRNr 8 `ben[]L
Kh Y{O R t<Y\_d_ "$ ! ;":" :" ) )xen[
WZY{[SY\WKhk[SY\lQR<l6 hKMPt|h…t<Y\V VKe\O
JaRxTKRUt<enLNWe\l]R<T…Y\Vw `bIK[QO]hKR<[
J MPenIKlQ_Pw
Y\_P_fen[QT _PRnRU_ŠWZY\[SY{WKhK[SY{l]R<l8Y\[]RY{O]enL:MPtKJkIkO8Vke\OY{_d_ŠY{O]enL:MPtWZY\[]Y\WKhK[]Y\l]RUlY\[QR9 en[QT _dRnRU_
WZY\[]Y\WKhK[]Y\l]RUl
z~DV"RkY\LNWK_dRe\` Y WKhK[]Y\l]R
_PR\R<_sY OSenLNMdt WZY\[]Y\WKhK[]Y\l]RMdl8q\M nRUV"MdV y aO]hKR<lQR
WKhK[]Y\l]RUlDTkeNVke\Ot<enVO|Y{MdV Y\Vwxl]IkJKIKVKM OSl hKMdt|h&Y\[]RzWKY\[SY\WkhK[SY\lQR<le\`gRFY\t|h e\OShkR<[ ~oO]enLNMdt WZY{[SY\WKhk[SY\lQR<l
tFY{V…JaRxt<e\L*JKMdVkR<T$OSe2WK[QeTkIKt<R !+5)$%& ".; ;" " :" ) )
en[ RkY\LNWK_dR flQR<VOSRUVKt<R *t<enVOSY\MdVKlNl]R nRU[SY\_DY{OSe\L:MPtxWZY\[SY{WKhK[SY{l]R<lNl]Ikt|hY\l "$% ; ;" "<0)(*)) < ; "<"$ < *Y\VkT :9 "! ;=; + $ ;= fenLNWaenl]M OSMde\VZY\_fWKY\[SY WKhK[]Y\l]RUlDt<Y\V JR Y\_Pl]e TKRU[]M \R<T Jw Y\WKWK_ wMPVKq !+5)$%& ".;-(; )9 hKMPt|h&[QR<lQIK_PO MPV TkMR<[]RUVO
t<e\L*JKMdVKY{OSMPenVKl}e\` Y OSenLNMdtCWZY{[SY\WKhk[SY\lQR<l g~8VR kY\LNWK_dR e\`ZYt<enLNWaenl]M OSMde\VZY\_\[QIK_dR Mdl}O]hKRfY{tUOSM nR WZY\lQl]M nROS[]Y\VKl `ben[]L:Y{OSMPenV Y\VxMdVklQO|Y{VKt<Rze\`ŠO]hKMdlfO][SY\VklQ`ben[QL Y{O]MdenV:MdlolQhK5e VXMdV MPqnIK[]R • R*[]RUWK[]RUl]R<VOpt<e\L:Waenl]M OSMPenVZY\_Š[]Ik_dR<lY\lWZY\[ OS_ w _PR Mdt<Y\_dM /<R<T&TKR<WaR<VkTKR<VKt w"OS[QR<R<lzlQIKt|hY\lOShkR
enVKRUlDMPV MdqnIk[]R • • 3 V Y{TKTKMPO]MdenV O]e:_PR Mdt<Y\_dM /<RUTxVKeTkR<l ZO]hKR<lQRpO][]R<RUlDtUenVO|Y\MPVXl]_de{OSl L Y{[ \RUT
MPO]h OShKRUMd[mWZY{[Q:O e\` lQWRUR<t|hxO|Y{qnlmY\VKTX[QRU`bR<[QR<VKtURMPVKTKR kRUl H_Pe\OSloL:Y\:[ \R<T M OSh OShkRpl]Y\LNRMd.V F
F
F
C
•\–
F
TKRxY\VkT OShKRDlSY\LNR8WKY\[QO e\` l]WaR<R<t|h []RU`bRU[ O]eOShkRMdTKRUVOSMdt<Y\_ MPO]R<LNl
en[ t<e\VKt<MPl]R<VkR<l]lfRY\_dlQe
IKlQRfOShKR Y{Os[QR<WK[QR<lQR<VO|Y{O]MdenVe\` t<enLNWaenl]M OSMde\VZY\_[]Ik_dR<l \`ben[gMdVKl O|Y\VKtUR O]hKRo[]Ik_dR `b[]enL MPqnIK[]R • •
Mdl ZY{O]O]R<VKRUT MdVO]e * * - - fY\l * Jw * VB
Be
1
=
NP1
F MPqnIK[QR
F
NP 2
VB ed
NP 2
1
NP1
• • RUWK[]RUl]R<VOSY{OSMPenV `be\[mt<enLNWe\l]MPO]MdenVKY\_[QIK_dRUl
HjMdLNMd_^Y{[[]RUWK[]RUl]R<VOSY{OSMPenVKlhKY5\R JaR<RUV.IKlQR<T.O]e []RUWK[]RUl]RUVOlQwjVO|Y\t OSMPt WZY\[]Y\WKhK[]Y\l]RUlMPV
OShkR WZY\l O fhKenLNl w r[SY{l e5fRnR<[ tUenLNWenlQMPO]MdenVZY{_ [QIK_dRUlRUVKt<enLNWZY\lQl Y
MdTkR<[}[SY{VKqnRCe\`jOS[]Y\VKlQ`be\[]L:Y{OSMPenVKl lQenLNRCe\`. hkMdt|hpY\[]RCtU_dR<Y\[]_ w_dRMdtFY{_&
hKR WZY\MP[Že\`l]RUVO]R<VKtUR<l
MdV Mdq\IK[]R • CMdl Y\V MPVKlQOSY\VKtUR8e\`ŠlQIKt|hXYWZY\[]Y\WKhK[]Y\l]RDWZY\MP[ hKMP_dR OShKRD[]RU_^Y{O]MdenVNJR O fRUR<V
(= "Y\VKT ) ; ; Mdl_PR Mdt<Y\&_ OShKMPlO][SY\VKl `ben[]L:Y{O]MdenV l]hKenIk_dT0JaR []RUWK[]RUl]RUVO]R<T Jw lQwjVO|Y{tUOSMPt
OS[QR<RUl Y{l O]hKR8enVkRDMPV MPqnIK[]R • — sl]MPVKt<RDMPO t|hZY\VkqnR<lfO]hKRen[]TKRU[ e{`ŽOShKR nRU[]JxY\[QqnIKLNR<VOSl jO]hIKl
LNeTKM ` wjMdVKqO]hKRzOS[QR<R lQO][]IKt OSIK[QRe\` OShkRplQR<VOSRUVKt<RUl
3 VWK[QR jMdenIklz[]R<lQRFY\[Qt|h ŠWZY\[]Y\WKhK[]Y\l]RUl R<[QRNY\_dlQext<_^Y{l]l]M cZR<T2MPV>OSR<[QL:l8e\` O]hKR<MP[LNRFY\.V MdVkqxTKMdl OSen[ OSMde\V>R R<t OSl r[SY\l Dt<_dY\l]lQMPcZRUT2lQwjVO|Y\t OSMdt WZY{[SY\WKhk[SY\lQR<lzMdVO]e c nRNqn[]e\IKWKl t|hZY\VkqnR&e{`8WaR<[Ql]WaR<tUO]M \R ft|hKY\VKqnR e\`DR<LNWKhZY\lQMdl t|hZY\VkqnR&e{`8[QR<_^Y OSMde\V CTKR<_PRUO]MdenV…Y\VKT…t<_dY\IKlQR
LNe \R<LNR<VO hKMd_PROShKMPlOSY enVKenLw L Y {R<ll]RUVKl]'
R M OShKMPVxOShKRpl]WaR<tUMPcZtY\WKWK_PMdt<Y{OSMPenVxt<enVkl]MdT R<[QR<T Jw:r[SY{l * OShKRDt<enVklQOS[QIKtUO]MdenV:e\`ŠYpqnR<VKRU[SY\_at<_dY\l]lQMPcZt<Y{OSMPenVNl]t|hKRUL:RDe\`ŽOShkMdl O wWaR8MPl hKY\[]T hKR R R<t Oe\` L:R<Y\VKMdVkq
TKMdl OSen[ OSMde\V MdloTkRUcZVKRUT VKe{OmenVK_ w JwxY*OS[]Y\VKl `ben[]L:Y{OSMPenVZY\_a[]Ik_dRM OSl]RU_P`>
CH E
F
CHHH
CF
F
CHHH
, ;1 G1 < 1!>F.0< 1 <H8 ;80. ;1F<1 I 5 !>E< >1 /A68 A/ G3 >E/ 57: K
4
+ +
. ,
"C
•
sell
buy
to
from
NP1
F Mdq\IK[]R
• —
NP2
NP
NP3
NP2
NP
R<WK[QR<lQR<VO|Y{O]MdenVX`ben[oO]hKR JKIkw { l]RU_d_}OS[]Y\VKl `ben[]L:Y{OSMPenV
3
1
JKIkO8Y\_Pl]e JwXOShkRtUenVOSRjOzMPV= hkMdt|h O]hKMdl []Ik_dRpMdlDY\WKWK_PMdR<T-
1&en[QRMPL:Waen[QOSY\VOS_ wkc\R*t<_dY\l]lQR<l
en[Y\Vw2TKMdlQt<[QRUOSR:VIKL*JaR<[pe\`mtFY OSR<q\en[]MPR<lgY\[QR Y t<eY\[Ql]R Y\WKWK[Qe5MPL Y{O]MdenV"e{`oOShKRNt<e\VO]MdVIKIKL
[]RUWK[]RUl]RUVO]MdVKqzLNRFY{VKMdVKqDt|hZY\VKq\R<l
hjIkl fR Md_d_VKe{OvOS[ w OSetU_^Y\lQl]MP` w WKY\[SY\WkhK[SY\lQR<l Y\tUt<en[QTKMdVkq
OSeO]hKR<MP[sTKMPlQOSe\[QOSMPenV*R RUtUO hkRmt<enVKtUR<[QVN`ben[vIKlCMdln[]enIkqnhK_Pwl]WaRFY jMPVKqYJKMPVZY\[ w*TKMPlQOSMPVKtUO]MdenV
hkRUOShkR<[Cen[sVke\OshIKL:Y\VKlstUenVKlQMdTKRU[vO fe WKhk[SY\lQR<l Y\ls[QRU`bRU[][]MPVKq8O]e8OShKRflSY\LNRfOShkMdVKq {TKR<lQWKMPO]R
l]e\L:RzTKMPlQO]en[QO]MdenVxR RUtUODMdVXL:R<Y\VKMPVKq
3 V"O]hKR
VKR jOpl]RUtUO]MdenV R WK[]RUl]RUVOpR MPTKR<Vkt<R
`b[]enL OShkR
_dMPO]R<[]Y{OSIK[QROShKY{OzhIKL:Y\VKl Y\[QR
tFY{WZY\JK_PRze\`vMPTKR<VO]MP` wjMdVKq Y{VKT&q\R<VKRU[SY{O]MdVKq WZY\[]Y\WKhK[]Y\l]RUlDMPVxt<enVkl]Mdl OSRUVO` Y\lQhKMdenV-
“
5 ‹ =D AC5 =*AC=
AC= v 9F;>7 ‘x9FEFE
Kh R&Y\JKMP_dMPO w OSe2l]Y w…M O MdV enVKR l:e Vfe\[]TKl .Mdl MPVO]IKMPO]M\R<_Pw O|Y{R<VY\lNY\VMPVKTKR0e\`IKV TKRU[]lQOSY\VKTKMPVKqxJw"L:Y\Vw MPV>OShKR
_PMdVKqnIkMdlQO]Mdt t<e\L:L*IkVKMPO w
p~Dl Y []RUl]IK_ O}MdV _dMdVkqnIKMdl OSMPtl OSIKTKMPR<l
OShkRO|Y{l Xe\`CWZY{[SY\WKhk[SY\lQMdVKq:MdlIKl]RUT2Y\lYNlQO|Y{VKTZY\[QT OSejen_ŠMdV L:R<Y\l]Ik[]MdVkq t<e\L:WK[QR<hKRUVKl]MPenV
3 V
OShkR<l]R l OSIKTKMPR<l ŽOShKR
lQIKJ QR<t OMPlqnM nR<V2YxWKhk[SY\lQR ŠY\VKT2MPlzY\l {R<T2OSexWaR<[ `ben[]L6R<MPO]hKR<[DOShKR •n•
<($ & $&" )
2e\`fWZY\[SY{WKhK[SY{l]MdVkq O]hKR:q\MnRUV WkhK[SY\lQR MPVhkMdl hKR<[pe5 V en[]TKlven[zO]e&WaR<[ `ben[]L
OShkR# +$%& $&" )
xe\`gl]RU_dR<t OSMPVKqNY\V Y\WKWK[QenWK[]MdY{OSRzWKY\[SY\WkhK[SY\lQRz`b[]enL Y _PMdl O e\`vt<Y\VKTKMPTZY{O]R<l
hKRUV$OShKR:l]IKJ QRUtUO
` Y\MP_dlzOSe WK[]e5j MdTKR Y\V0Y\WkWK[]enWk[]M^Y OSRNWZY\[SY{WKhK[SY{l]R:`be\[pO]hKR OSRUlQOl]R<VO]R<VKtUR
MPOMdlzY l O|Y\VKTKY\[]TY\lQl]IKLNWkOSMPenV"MdV"lQIKt|h.R WRU[]MdLNR<VO]lOShZY{Ol {hKR TKejR<lzVke\OzIKVKTkR<[]l O|Y\VkT OShkR
l]RUVOSR<Vkt<R
VKR&lQR<RUl OShZY O:O]hKR Y{JKMd_PMPO w.O]e.WZY{[SY\WKhk[SY\lQR Mdl tUenVKl]MPTKR<[QR<TlQe$JZY\lQMdtXOShZY O enVkR
ne IK_dT&qnR<VkR<[SY{_d_Pw []IK_PRenIOO]hKRWaenlQl]MdJkMd_dM O w O]hZY{O OShKRl]IKJ QR<tUOIKVKTKRU[]lQOSY\VKTKl8Y:lQR<VOSRUVKt<R
JKIO
tFY{V&VKe{O WZY\[SY{WKhK[SY{l]R MPO
HjR nRU[SY\_ WKlQwjt|hKe\_dMdVkqnIKMdl OSl M \Y{VO
sy _PR<MPO]L Y{V2Y\VKT0yz_dRUMPO]L Y\V- – Y{[]qnIKRUT
OShKY{O OShKMPl[QIK_dMPVKq
enIkOL:YFwxVKe\OJaR QIklQOSM cZR<T O]hZY{OMdlKOShKRU[]R L:Y w JRptFY\lQR<l hKR<V YNlQIKJ QRUtUO
TKejR<lmIKVkTKR<[QlQO|Y{VKT>Y*lQR<VOSRUVKt<RpJKIkOtFY{V Vke\OmWZY\[]Y\WKhK[]Y\l]R M O
hKR wx_deje{R<TXMdVOSe*O]hKRzt<e\VKVKR<t
OSMPenVNe\`ŽOShkR8WZY\[]Y\WKhK[]Y\l]MPVKqY\JKMd_PMPO wOSeq\[SY\LNL Y OSMdt<Y\_ VK5e _dRUTKqnR M{Y\VO
sWRU[Q`ben[QL:RUT
Y&l OSIKTw e{`mWZY\[]Y\WKhK[]Y\l]MPVKq&tUenLNWenIkVKT.VKe\IKVKl OShK[QR<RNl]IKJ QRUtUO]6
l fRU[]R q\M nRUV$Y _dMdl Ope\`otUen4
L WaenIKVKT>VkenIKVKl8Y\VKT R<[QR
Y\l {R<T>O]e WZY\[]Y\WKhK[]Y\l]RpOShKRt<enLNWe\IKVKTKl M {Y\VOD[]RUWen[ OSlOShZY{ODhKMPl
l]IkJ QR<t OSlpt<enIK_PT"MdV2Y\_P_gt<Y\l]RUl WZY\[SY{WKhK[SY{l]R
OShKR
tUenLNWenIkVKTKl hKMdl8Mdl Y\_P_ O]hKR
L:e\[]R*lQIK[]WK[QMd>l MdVkq JaR<t<Y\IKlQR:lQenL:R
e{` O]hKR t<enLNWe\IKVKTK,
l R<[]RNiIKMPO]R JK0M /<Y\[][QR
MdV2MdVOSRU[]WK[QRUOSY{OSMPenV R q 2<
+ ( ) ; "
mMdlCWZY{[SY\WKhk[SY\lQR<T:O]e " ; "
> + ( ) ) 9 +90) " 2< - oY\lQR<TNenV OShKMPl
R jMPTKR<VKtUR ahKR t<enVkt<_dIkTKR<l OShZY O8Y{_d_ŽlQWR<Y \RU[]lhZY \RpO]hKRl]Y\LNRpLNR<t|hKY\VKMdlQL `ben[ WZY\[]Y\WKhK[]Y\l]MPVKq MdV"R RUtUO ŠO]hKR fe\[]TKl e\` OShkRNtUenLNWenIkVKT2Y\[]R*O][]R<Y{OSRUT _P0M \R \Y{[]M^Y{JK_dRUlMdV2Y VK5e V `be\[]L*IK_d;Y Y\_P_d5e MdVKq*Y lQWR<Y \RU[O]e:tUen[][QR<t OS_Pw WZY\[]Y\WKhK[]Y\l]Rpl]RUL Y\VO]MdtFY{_d_PwNWaR<tUIK_dMdY\[mWKhK[]Y\l]RUl y _PR<M OSL:Y\VXY\VKT>y _PR<MPO]L Y{V – ft<e\L:RzOSe:_dRUl]l enWkO]MdLNMdlQO]MdttUenVKtU_dIKlQMdenVKlDY\JaenIkO OShkR
LNR<t|hZY\VkMdtFY{_oVZY{O]IK[]RXe\`DWZY\[]Y\WKhK[]Y\l]MPVKq"l Md_P_dl Y{` O]R<[
[QR<WK_PMdtFY OSMdVkq M {Y\VO l
R WaR<[]MPL:RUVO:MPV Y
_^Y{[]qnRU[ lQt<enWaR • WZY\[QO]MdtUMdWZY\VO]lvY\VkT
t<enLNWaenIKVKTVKenIKVKlge\` {Y\[QMdenIKl _dR nRU_e\`Kt<enLNWK_dR MPO w
Y\VKT l]RUL Y{VO]Mdt WK_dY\IKl]MPJKMd_PMPO w hKRpR WRU[]MPL:RUVOMPVKt<_PIKTKR<T Jae\OSh qnR<VkR<[SY OSMde\V&Y{VKT [QR<t<e\qnVKMPO]MdenV
CHDC
Q
CHE
CHDC
Q
Q
CHE
C
C
Q
CRR
I ;5 6 B: ;< >F5 8 B80. ;1F< >E.0/21 5;:0< >
K
" +
%
+
+
&
"
5 06< << /A:
9
,
;: 7<%6<%:?>
=33< 1F1 5 E6
8
9 •\—
O|Y{l l
hKMP_dR:O]hKR e5nRU[SY\_P_fWaR<[ `ben[]L:Y\VKtUR fY\l
lSY{O]Mdl ` Y\tUO]en[QwCVKenVKR e{`mOShKR O R<_ nRXl]IkJ QR<t OSl
WaR<[Q`be\[]LNR<T.WaR<[ `bR<t OS_Pw
~DVZY\_PwjlQMdlpe\` R<[Q[]en[Ql[]RnR<Y\_dRUT.OShZY O*l]e\L:R:lQwjVO|Y\t OSMdt:lQO][]IKt OSIK[QR<l Y\[QR
RFY{l]MdRU[*OSe2WZY\[]Y\WKhK[]Y\l]R O]hZY\V e\O]hKR<[QloY{VKT0OShZY{O tUR<[ O|Y\MPV0t<enLNWe\IKVKTKl Y\[QRXY\l]lQetUM^Y{O]R<T MPO]h
t<RU[QOSY\MdVXO wjWRUl8e\`vR<[][Qen[]l o~8Vke\OShKRU[DMPVOSR<[QR<l OSMdVkq:iIKRUlQOSMPenV&O]hZY{O OShkRl OSIKTkw&Y\TkTK[]RUl]l]RUT>Mdl OShkR
t<e\[][]RU_^Y{O]MdenV JaRUO R<RUVWZY\[SY{WKhK[SY{l]MdVkq.Y\JkMd_dM O w0Y\VkTR<TkIKtFY{O]MdenV _dR nR<_ hKR&lQOSIkTkw…MdVKtU_dIKTKRUT
l]IkJ QR<t OSl `b[]enL \Y{[]Mde\IKlR<TkIKtFY{O]MdenVKY\_sJZY\t qn[QenIKVKTkl [SY\VKq\MdVKq `b[QenLƒhKMPqnh"l]t|hkeen_Cq\[SY\TKIKY{OSRUl
OSe hKen_PTKR<[Qle{`muCh r l hKR:cKVZY\_ []RUl]IK_ OSlpMdVKTKMPtFY{O]R
L Y{l]l]M nRNTKMR<[QR<VKtUR<lMdVWZY\[SY{WKhK[SY{l]MdVkq
Y\JKMP_dM O wY\LNenVKq TKM RU[]RUVO qn[QenIKWKlŠe\`OShKR WaenWKIK_dY{OSMPenV hKR _dRUl]l R<TKIktFY{O]R<Tq\[]enIKWkl L:Y {R LNen[]R
R<[Q[]en[Ql Y{VKT*OSezYDl]Mdq\VKMPcZt<Y\VOsR O]R<VO L:Y \RoTkMR<[]RUVOCR<[Q[]en[QlvOShZY{VOShKRfL:enl OsRUTKIKtFY OSR<T qn[QenIKW yz_dR<M OSL:Y\V*Y{VKTNy _PR<M OSL:Y\V lv[]RUl]IK_ OSlC[]Y\MdlQRoiIKR<l OSMde\VKl Y\Je\IkOsOShkRmVZY{OSIk[]Rme\` OShkRmWZY\[SY{WKhK[SY{l]MdVkq
WK[QetUR<l]l aY\VKTXTKe VKe\O lQIKWKWaen[QO OShkR MPR e\` WZY\[SY{WKhK[SY{l]MdVkq:Y{l Y LNR<t|hKY\VKMdt<Y\_ŽWK[QetUR<lQl hkMdt|h
TKejR<lQV O [QR<iIKMP[]R*lQR<L:Y\VOSMdtMdVOSRU[]WK[QRUOSY{OSMPenV e R \R<[ gJaR<t<Y\IKl]R
L:Y\Vw&WZY\[SY{WKhK[SY{l]R<l8MdV>OShkR
lQO]IKTkw R<[]R VKe\Ogl]RUL Y\VO]MdtFY{_d_Pw fRU_d_ `ben[QL:RUT MPO]lg[QR<l]Ik_POSl TKeVKe\Og[]R `bIkOSR OShKR ` Y\t OgO]hZY{OghjIkL Y\Vkl
tFY{V Y\TkR<iIZY{O]R<_Pw WZY\[SY{WKhK[SY{l]RpY
l]R<L:Y\VOSMPtFY\_P_P#
w fRU_d_ `ben[QL:RUTxWKhK[SY{l]R 3 V>Y\TKTKM OSMde\VXO]e l OSIKTKMPR<le\`CWZY{[SY\WKhk[SY\lQMdVKqNWKhKRUVKenLNR<VZYNMdV>Y []RUl]R<Y\[]t|h"lQRUO]O]MdVK;q O]hKR<[QR
Y\[QRL*IK_ OSMPWK_dR WKMPR<t<RUlze\` R jMPTKR<VKtUROShKY{OzhIKL:Y\VKlzY\[QR`b[QR<iIKR<VO]_Pw>Ikl]MdVkq OShKRUMd[DWZY\[SY{WKhK[SY{l]MdVkq
l MP_d_dlMdV&R \R<[QwjTZYFw"_PMP`bR IKLNR<[]e\IKllQO]IKTKMPR<l_PMdV xWZY{[SY\WKhk[SY\lQMdVKq Y\JKMd_PMPO w M OSh>tUenLNL*IKVKMPtFY OSMPenV>:l jMP_d_Pl ~ l]WaRFY {R<[ WZY\[ OSMPt<MdWKY{OSMPVKq MPV"Yxt<enV nRU[]l]Y{OSMPenV2e\` OSRUVWKY\[SY\WkhK[SY\lQR<lzMPVk`ben[]L:Y{O]MdenV
lQOSY{OSRUT0Jw.e\O]hKR<[WZY\[QO]MdtUMdWZY\VO]lOSe t<enVKl OS[QIKtUO*O]hKR tUenL:LNenV qn[]enIkVKT0MdV0Y&TKM^Y\_Penq .Y\0_ {R<[ • / 3 V Y\TKTkMPOSMPenV>OSe WZY\[]Y\WKhK[]Y\l]RUl l]IKt|h []RUTKIKVKTZY{VOY N[]L:Y{O]MdenVKl8tFY\VJR [QRFY\_P0M /<RUT2Jw
IKlQMdVKq e\O]hKR<[ _dMPVKqnIKMPlQO]MdtTKR jMdtUR<l _dM OSR<[]Y\_ [QR<WaRUO]MPOSMPenVKl kR<VOSY\Md_PL:RUVO]l Y\VKTX_de\qnMdtUe WK[]Y\qnL:Y{OSMPt
MdV`bR<[]RUVKt<RUl $Y\_ \RU[ — J NVKe{OSR<TO]hZY{O WZY\[SY{WKhK[SY{l]R<lXY{[]R&O]hKR>LNenlQO:`b[]RUijIkR<VOS_ wIKlQR<T
TKR MPt<R CHH
<%<
;<
/A:$>E.0< / A5 GK
# ,,& CHH
I 5 / : 0<%8 >E. /21F3 =1E1 /A5;: 57:>F.0< F5 <@5;I / :0I 5 E6 B>F/A5;:
$
7
F< 0: ;:?> 1 > >E<%6<%:?>E1
#"6 %2 +
SR
•
~Dl>Y\V RkY\LNWK_dRe\` Y\Vke\OShKRU[&Ikl]R$e\`*WZY\[SY{WKhK[SY{l]MdVkq MPV t<e\V*\R<[QlSY{O]MdenV tUenVKl]MPTKR<[ Y
qn[Qe V IKW hke>l]MPL:WK_PMPcZRUlzhKMdl_^Y\VkqnIZY\qnR hKRUV0t<enV \R<[]lQMdVKq MPOSh.Y t|hKMP_dT
hKMPlMPlY\V MdV.
lQOSY\VKtUR:e\` OShKRNLNen[]R qnRUVKR<[]Y\_ WKhKR<VkenL:RUVKenV e\` hkR<V0YXl]WaRFY{R<[9 Mdl]hkR<l OSe&Y\t<tUenL:LNejTZY{OSR
Y"TKM^Y{_dR<t O {lQIKJK_dY\VKqnIZY{qnR e\`Y2_PMdl OSR<VkR<[
Jw WZY\[]Y\WKhK[]Y\l]MPVKq2hKMdl
LNR<lQlSY\qnRXMPVO]e"OShKRX_dMPlQO]R<VKRU[ l
l]IkJK_^Y\VkqnIZY\qnR IKLNR<[]e\IKl8l OSIKTKMPR<lDMdV RUTKIKt<Y{OSMPenV"Y\VKT _dMdVkqnIKMdl OSMPt<lml]hke R<T"O]hZY{O8O]hKMdl OS[]Y\VK>l _^Y OSMde\VxMdl R<lQl]R<VO]M^Y\_}`ben[ JaRUO]O]R<[t<enLNL*IKVkMdtFY OSMde\V 3 V enVkRplQIKt|h>l OSIKTkw Y\J5e • oY\l {R<T
~D`b[QMdt<Y\.V ~DL:RU[]MPtFY\VXOSRUR<VZY\q\R<[]lO]e []RUWR<Y{O \R<[QJZY{OSMPL {Y\[QMdenIkl
CVKqn_PMdlQh>l]RUVO]R<VKtUR<l hkR
WZY\[ OSMPt<MPWZY\VOS
l R<[QR:VZY OSM \R*OSe Y\V CVKqn_dMPl]h2TKMdY\_dRUtUOzTKM RU[]RUVO `b[QenLƒL:Y\MdVklQOS[QRFY\L CVKqn_PMdl]-h hKR
t|hKMP_dTK[QR<V R<[QRN[]Y\[]RU_Pw&Y\JK_PRO]e []RUWR<Y{O nRU[]JZY OSMdL6Y l]RUVOSR<Vkt<R MdV>L:Y\MPVKlQO][]RFY{L CVKq\_dMdlQh ŽY{VKT
l]e\L:R OSMdLNR<l[]RUWR<Y{OSRUT Y OS[SY{VKl]_dY{OSMPenV.e\`mO]hKRxl]RUVOSR<Vkt<RXMdV.O]hKR<MP[TKMdY\_dRUtUO en[R KY{L:WK_PR 9 < 9 $ ; ; ! $ ! = + (*) $> + $ oY\lX[QR<WaRFY{O]R<T Y\l 9 < 9 ; ;
!4$ =! = + ( ) 4$ + $ 5e fR nR<[ vOShkRUw2TKMPTVke\OphZY nR:Y\Vw2WK[]enJk_dR<Lƒ[]R<WaRFY OSMdVkq
l]RUVOSR<Vkt<R<llQOSY{OSRUT Jw Y\Ja5e >MdV>O]hKR<MP[zTKM^Y{_dR<t O hjIkl OS[]Y\VKl]_dY{OSMPenV e{`fYxLNR<lQlSY\qnR MPVO]eXY
_dMPlQO]R<VKRU[ ls_^Y\VkqnIZY\qnR L Y \R<lvMPOsLNen[QRoIKVKTKRU[]l O|Y\VKTKY\JK_dR l]WaRFY {R<[]l RUL:WK_Pe wlQIKt|hNWZY\[SY{WKhK[SY{l]MdVkq
OSRUt|hKVKMPijIkR<l OSe:Y\t<tUenL:LNejTZY{OSR8TKMR<[QR<VO O wWaR<le\`vY\IKTKMPR<VKtUR<l CHE
Q
F
Q
‚ = =
A
=*E †
>5zE
Kh MP_dRpWZY\[SY{WKhK[SY{l]R<lY\[]Rp`b[]R<iIKRUVOS_Pw&IKlQR<T2Jw lQWR<Y\RU[]lze\` Y:_^Y\VKq\IZY\qnR Y{ODOShKRlSY\LNRO]MdLNR
OShkRtUenVKt<RUWkOze\`vWZY\[]Y\WKhK[]Y\l]MPVKq:MPlD[QR<L:Y\[ Y\Jk_Pwx[QR<l]MPlQOSY\VODO]e TKR cZVKMPO]MdenV MdVX`ben[QL Y\_ŽO]R<[QL:l
m~
TKR cZVKMPO]MdenV
e{` WZY{[SY\WKhk[SY\lQMdVKqz[QR<WK[QR<l]RUVO|Y{O]M nRDe\` OShKe\l]R MdV
OShkRm_dMPO]R<[]Y{OSIK[QRoMdlsO]hZY{O e\` bTKR fRFY\I qn[]Y\VKTKRmY{VKT r[]RUl]l]_PR<[ QY\WKWK[Q5e MPL Y{O]R tUenVKtUR<WkO]IZY\_KRUijIkM {Y\_dRUVKt<RoY\L:e\VKqenIkO fY\[QTK_Pw
TKM RU[]R<VOL:Y{OSRU[]M^Y{_ hkRlQt<enWaR e\`vO]hKMd
l ]Y{WKWK[]e MdL:Y{O]RzR<iIKM {Y\_PR<VKtUR NMdl VKe\O tU_dR<Y\[]_ w l]WaR<t MPcKR<T Y\VKT&Mdlt<_^Y{[]MPcKR<T Jw R kY\LNWK_PR<l zIkMd[ xR OzY\_ oMdV OShKRUMd[R jOSRUVKl]M nR*TKRUl]tU[]MdWOSM \R
CHGC
CHG
qn[]Y\L:L:Y\[}e\` Vkqn_dMPl]hpMdVOS[QeTKIkt<R WZY\[SY{WKhK[SY{l]R<l Kh R<V*[QRU`bRU[][]MPVKqDO]e#
WKhK[]Y\l]RUlDlQIKt|h>Y{l
)+ < )
•
JR O fRUR<V
, )+ $) 9 < ) ) " '>,$ ) 9 2< ) ;-)$&"< $ ; $ IKMP[ "R O Y\_&
C H G zTKe>VKe{OTKR cZVKR O]hKR lQt<enWaR e\`oO]hKR<lQRxt<en[Q[]RUl]WaenVKTKRUVKt<RUl O]hKRUw.Y\WKWaRFY{[
OSe2[QR<_Pw enV0OShkR [QRFY\TkR<[ l
MdVO]IKMPO]MdenV0Y{l*OSe hKR<V O e tUenVKlQO]MPO]IKR<VOSl LNRFY\V0e\[
[]RU`bRU[*OSe"OShkR
lSY{L:R OShKMPVKq en[Y O_PRFY\l O*Y{V$Y\WKWk[]eMdL:Y{OSMPenV2e\`fO]hKR l]Y\L:R OShkMdVKq
r[]Y\l
zY\VKY\_Pw /<RUT
TKR cZVKMPO]MdenVkloe\` WZY\[]Y\WKhK[]Y\l]RUlmMdV OShkRzRMdl OSMdVkq*_dM OSR<[]Y{OSIk[]RY{VKTx`benIKVKT O]hZY{OoO wjWKMPtFY\_P_PwNOShKR wxY\[QR
OSeje JK[]enY\TxOSe t<MP[]t<IkL:lQt<[]MPJRO]hKR VKe\O]MdenVXe\`gWZY\[]Y\WKhK[]Y\l]RzOSeNY\Vwxq\[]RFY ODRjOSR<VO
e Y\TKRUiIZY{OSRU_Pw…LNeTKRU_O]hKR WKY\[SY\WkhK[SY\lQMdVKq WKhKRUVKenLNR<VZY$enVkR l]hkenIK_dTVKe\O tUenVKlQMdTKRU[
WZY\[]Y\WKhK[]Y\l]RUlsMdVMdl]e\_^Y{O]MdenV JKI<O MPO]hKMdVY8WZY\[ OSMdtUIK_^Y{[gtUenVOSR jO fIkO Y{l CTKLNenVKTklCY\VKT Md[QlQO •\–n–n• VKe{OSR OShKRt<enVOSR j:O TkR<WaR<VKTKRUVOVKY{OSIK[QR*e\` _PR Mdt<Y\_ VK5e _PR<TKqnR
MPl8VKe{O nRU[Qw R<_P_vIKV TKRU[]lQO]eejTXY\lfw\RUO 3 Vxt<_dY\l]lQMdtFY{_LNeTkR<_dl e\`Š_dR MdtFY{_ VK5e _dRUTKqn
R w\enVKl f[QIKl]R RFY{t|hR<_dRUL:RUVOxe\`zOShkR>_dR kMPt<enV Mdl:[]R<Wk[]R<lQR<VOSRUT Y{lxY.t<e\VKt<RUWkOSIZY{_l]t|hKRUL .Y .en[QTKl hkMdt|h
hZY nR
O]hKR lSY\LNR
L:R<Y\VKMPVKqXY\[]R
tUenVKVKRUtUO]R<T O]exOShKR
l]Y\L:R
lQt|hKR<L:Y gMP` Y fe\[]TMdl Y\L*JkMdqnIKe\IKl l]Ik.J RUVO][]MPR<l `be\[ M OSl TKMR<[QR<VOolQR<VKlQR<lmY\[QR8tUenVKVKRUtUOSRUT OSepOShKRUMd[ []R<lQWRUtUO]M nR8l]t|hKRUL Y{OS;Y 7DVkTKR<>[ lQOSY\VKTKMPVKq e{`vOShkR en[]T&MdV&O]hKMdlm`b[]Y\L:R fe\[ XMdl R<iIKM {Y\_dRUVOOSeNcZVKTKMPVKq OShKRl]t|hKRUL Y:O]#
e hkMdt|h
OShk'
R fe\[]T2t<en[Q[]RUl]WaenVKTKl }TKMdl]Y\L*JKMPqnIZY{O]MdVKq:MPOM ` VKR<tUR<lQlSY\[ w '3 V>O]hKMdl8L:ejTKR<_ aO]hKR
t<e\VKVKR<t OSMPenV
JaRUO R<R<V:Y en[]TNY\VKT
M OSlsLNRFY{VKMdVKq8Mdlsl O|Y{O]Mdt *J jMPenIKl]_ w nM OsTKejR<lCVke\OCWK[Qe jMPTKR YL:RUt|hZY\VKMPl]L
OSe Y\t<tUenIKVO8`be\[DtUenVOSR jO]IZY\_vTkR<WaR<VKTKRUVKtUw hIKl O e WZY\[]Y\WKhK[]Y\l]RUl hKMPt|h>l]hZY{[]RO]hKRl]Y\LNR
LNRFY\VKMPVKqMPV L:Y\Vw:tUenVOSR O]lmJKIkO Y{[]RVKe{Of`bIK_P_Pw R<iIKM {Y\_dRUVOfMdV LNRFY{VKMdVKqY\[]RDOS[]R<Y{OSRUTxMdVNOShKMPl
LNeTKRU_}Y\l MPTKR<_ w TKM RU[]R<VO en[]Tkl CTKL:e\VKTKlY\VKT DMP[]lQO •\–n–n• et<enLNWK_dMPtFY{O]RvL:Y{O]O]R<[Ql}R nRUV`bIK[ OShKRU[ hKR<Vp[]R<Y\l]e\VKMdVKqY\JaenIkOŠLNRFY{VKMdVKqmRUiIKM {Y\_PR<VKtUR
enVKR l]hKe\IK_dT*tUenVKlQMdTKRU[vOShKRfTKMR<[QR<VKtURfJaRUO R<R<=
V $ ) ;) ! "+pY\VkT $ ! "
Q
CHHH
CHEE
CHGD
F
F
•
CGH
D
PM V []RUqnR lDO]R<[QL:l []RUqnR • 9! "+xe\` Y:_dMdVkqnIKMdl OSMPtzIKVKMPOMPlDOShkR
enJ QRUtUOMPO [QR<WK[QR<lQR<VOSl hKMP_dRM OSl ) ;) MPl QIKlQO O]hKR t<enVKtUR<WkOM O RWK[]RUl]lQR<lY{ltUenLNWK[]RUhKR<VKTkR<T
Jw.O]hKR _dMPlQO]R<VKRU[
[]RUqnR l*t<_dY\l]lQMdt<Y\_fRKY{L:WK_PR hKRxL:e\[]VKMPVKq l O|Y\[*MPlO]hKR R\R<VKMPVKq2lQOSY\[ Md_P_dIKl OS[]Y{OSRUlsOShKRTKMR<[QR<VKtUR
HjMdVKtUR \O]hKRL:en[QVKMdVkqzlQO|Y{[ *Y{VKT {OShKRR\R<VKMPVKql O|Y\[ Jae\OSh:[]R `bR<[
MdV ` Y\t O OSe OShKRDWK_^Y\VkRUO 7 R<VIKl OShkR8lQOSY{OSRUL:RUVOfMPl RUijIkM {Y\_dRUVO O]eO]hKROSY\IkO]en_denq{w*OShZY O .7 RUVIKl
Md8l 7 RUVIKl fIO l]MdVkt<RzOShKMPlmlQOSY\[ MdloenJkl]R<[ nRUT>MdVxOShkRzl w Y{O TKMPlQOSMPVKtUO _Pet<Y{OSMPenVKl enV&TkMR<[]RUVO
TZYFwjl ZOShkRp_PMdl OSR<VkR<[mL:Y w VKe\O JaRp5Y fY\[QRpe{`gO]hKR<MP[mMdTKRUVO]MPO w hjIkl hKMdl IKVkTKR<[QlQO|Y{VKTKMdVkq:e\` OShkR
l]RUVOSR<Vkt<R enIK_dT.JRNOSe\OSY\_d_ w>TKM RU[]R<VO hKRU[]R `ben[]R Y\V0Y\TKRUiIZY{OSR:L:ejTKRU_ e{` WZY\[SY{WKhK[SY{l]MdVkq
hZY\lmO]e OSY \RpMdVO]e Y\t<tUenIKVODO]hKR _dMPlQOSRUVKR<[ KhKMPlmR WRU[QO]Mdl]RY\VKTXhKMPlmWK[]MPen[ VK5e _dRUTKqnR <
\R<V3_dMPL:M OSMPVKq.enIk[]l]RU_ \R<l&O]eY L:e\[]R2[]RUlQOS[QMdt OSR<T t<_^Y{l]l e\`*WZY{[SY\WKhk[SY\lQR<l TkeRUl&VKe{O
WK[QeTKIkt<R:Y qnejejT LNeTkR<&_ #7VZY\JK_PR O]e `be\[]L:Y\_d_ w TKR cZVKR:lQwjVKenVwjLw IKMdVkR Y{[]qnIKRUT
OShKY{O8l wjVKenVwjLw MdlDY\lDtUenLNWK_dR Y\l OShKRpVKe\O]MdenV e\`CY{VZY\_PwO]Mdt<M O wxY\VkT tFY{V VKe\ODJaR[QR<TKIKtUR<T O]e
l]MPL:Wk_dR<[ztUenVKtUR<WkO]l =3 V.[]RUl]WaenVKlQR OSe zIkMdVKR lY\[]q\IKL:RUVOSl gL Y{Vw2Wk[]enLNMdVKRUVOWkhKMd_Penl]enWkhKR<[Ql
t<e\VO]R<VKTkR<T&O]hZY{O l wVkenVwLwXMdloWZY{[QO e\` OShKRz_PMdVKq\IKMdl OSMdtDt<enLNWaRUOSRUVKt<R e\`gY
l]WaRFY \R<[ aY\VKTxOShZY O
MPO TkeRUlVke\O []RUijIkMd[]Rz`bIK[ OShKRU[ []R<TkIKtUO]MdenVxOSeNLNen[]RWk[]MdLNMPO]M \RVKe\O]MdenVKl hkR:TKRUJZY{O]RNe\VO]hKR
`ben[]L:Y\_vTkRUcZVKM OSMPenV"e\` WZY\[SY{WKhK[SY{l]R<lphZY\l tUenVOSMdVIKRUT`be\[zl]R \R<[]Y\_
TKRUtFY\TKRUlfY{VKT:MPlClQO]Md_d_VKe\O t<_Penl]RUT R Md_d_VKe\O qnez`bIK[ OShKRU[ MPV
OShKR MdV \R<lQO]MdqY OSMde\V
e\`O]hKMdlCMPl]lQIKR
MdVxO]hKRzOShKRUl]Mdl
F
CHG
=A =
AC= s 9F;>7 9<; ‚ 9<;>7 9 XC9 “
5
A 9<5
8Y OSIK[]Y\_f_dY\VKqnIZY{qnR<lWK[]e5jMdTKR TKRjMdtUR<l*O]e>l]IKWkWen[ O
OShKR WZY\[SY{WKhK[SY{l]MdVkq"Y\JKMP_dMPO w2e{` l]WaRFY{R<[]l
hKRUl]RTKRjMdt<RUlohZYnR8JRUR<VxMdV \R<lQO]MdqY OSR<T:Jw {Y\[QMdenIKl _dMPVKqnIKMPlQO]Mdtml]t|hkeen_Pl
HjIK[]WK[QMdlQMdVKqn_ w`ben[ Y
_de\VKq OSMPL:R _PR Mdt<Y\_vWKY\[SY\WkhK[SY\lQR<l Y\VkT"lQwjVO|Y\t OSMdt
WKY\[SY\WkhK[SY\lQR<l R<[QR
t<enVKlQMdTKRU[]RUTMPV"_dMPVKqnIKMPl
•
E
OSMPt<lNY\l O fe MdVKTkR<WaR<VKTKRUVO WKhKRUVKenLNR<VZY. _dRMdtFY{_oWZY\[]Y\WKhK[]Y\l]RUl R<[]R OS[QRFY{O]R<TY{lNlQR<L:Y\VOSMPt
WKhKRUVKenLNR<VKe\V Y\VkT:l wVOSY\tUO]MdtWZY\[SY{WKhK[SY{l]R<l R<[]RDt<enVkl]MdTkR<[]RUT# M OShKMPVNYpqn[]Y\LNL Y\[
e5fRnR<[
l]e\L:RO]hKR<en[QMdRUlTke:VKe{Om` Y\_d_MdV Y\Vwxe\` OShKRzO e t<Y{OSRUqnen[]MPR<lkOShKRU[]R `ben[]R, RTKe VKe{O`be\_d_de5 OShkR
OS[]Y\TKM OSMde\VZY\_ t<_^Y{l]l]M cZtFY OSMde\V$e\`DWZY\[SY{WKhK[SY{l]R<l mMdVKl OSR<Y\T fRxcZ[QlQO MdVO][]ejTKIKt<R O]hKR<e\[]MdRUl TKRFY\_PMdVKq
MPO]h Y{OSenLNMdt8WZY\[SY{WKhK[SY{l]R<lDY\VKTxO]hKR<V WK[]RUl]RUVO8L Y OSR<[QM^Y\_aenV t<enLNWaenl]M OSMde\VZY\_aWZY\[SY{WKhK[SY{l]R<l $
# + + 4
Kh RUV e\VKR>OShKMPVl e\`p_dRMdtFY{_DWZY{[SY\WKhk[SY\lQMdVKqmO]hKR>cZ[]l O OShkMdVKq$O]hZY{OxtUenL:RUl MdVO]e0L:MPVKTMPl
OShkR
lQwjVKenVwjLw"[QR<_^Y OSMde\V
.RUJKlQO]R<[ TKR cZVKR<l l wVkenVwLw2Y\l Ql]Y\L:RUVKR<lQlze\` L:R<Y\VKMPVKq hKMPl
TKR cZVKMPO]MdenVl]IkqnqnR<l OSlpOShZY{OpOShkR:l wVkenVwLw.[QR<_^Y OSMde\VMPlpY&l]IkJtU_^Y\lQle\`mY{OSenLNMdt
WKY\[SY\WkhK[SY\lQR<l
hKenlQR8LNR<L*JaR<[QloY\[QRDtUenLNWK_dR OSR<_ w
MdTkR<VOSMPtFY\_ MdVNLNRFY\VKMPVKqMdV:t<enVO][SY\l O O]eOShkR ]Y\WkWK[]eMdL:Y{OSR
t<e\VKt<RUWkOSIZY{_gRUijIkM {Y\_dRUVKt<R e\`se\OShKRU[8Y OSenLNMdtzWZY{[SY\WKhk[SY\lQR<l hkMdl8JkMdVZY\[ wxTKMPlQOSMPVKtUO]MdenVXL:Y \RUl
IKl OShKMPV >e\`flQwjVKenVwjLNl*Y\lpY\V RFY\lQMd_Pw IKVKTKRU[]l O|Y\VKTKY\JK_dRNWKhKRUVKenLNR<VKe\V ~Dl TkL:enVkTKlY{VKT
DMP[]l O •\–\–• pWaenMPVOenIkO QlQwjVKenVwjLw.hZY\l*e\` O]R<V0JaR<RUV O]hKenIKq\hO*e\`Y\l
Y VKenV WK[QenJK_dRU
L R<M OShKRU[ O 6
e en[]TKlfY\[]RDlQwjVKenVwjLNl ; hKMPt|hxY\[QRDtUenL:Wk_dRUO]R<_ w MdTKRUVO]Mdt<Y\_ MdV LNRFY{VKMdVKqY\VKT hKR<VKtUR
RFY{lQw
OSe TKR<Y\_ MPO]h en[ O]hKRUw Y{[]R VKe\O lQwjVKe\VwjLNl jMdV hKMPt|h:t<Y\l]RRFY\t|#
h fe\[]TNtFY\VNJR hZY{VKTK_dRUT
_dM \R Y\Vwxe{OShKRU[ 5e fR nR<[ zOShKMPlxY\WKWZY{[]R<VO l]MPL:Wk_dMdtUMPO w e\`lQwjVKe\VwjLw MPl TKRUt<R<WOSM \R zlQMdVKtUR2Y\JKl]e\_dIkO]R
lQwjVKe\VwjLw&Mdl[SY{[]R ~DJKl]en_PIkOSRlQwjVKenVwjLNlt<enIk_dT JaRpl]IKJKl OSM OSIkO]R<T"enVKR `ben[ OShKRe\OShkR<[8MPV Y{Vw
t<e\VO]R jO MdV hKMdt|h*O]hKR<MP[vl]RUVKl]RmMPlvTKRUVKe\O]R<T MPO]h*VKezt|hZY\VkqnRfOSeDOS[]IOS6
h {Y\_dIkRoY\VKT
tUenLNL*IKVKMPtFY OSM nRR R<tUO e\OSh>Wk[SY\qnL:Y{O]MdtpY\[]q\IKL:RUVOSlY{VKT RUL:WKMP[]MPtFY\_}R MPTKR<Vkt<R*lQIKqnqnRUlQOO]hZY{O8Y\JKl]e\_dIkO]R
lQwjVKe\VwjLw:Mdl IKVK_P0M {R<_Pw
O]eJaR`be\IKVKT MPV VZY{O]IK[SY{_a_dY\VKqnIKY\qnR f_dY\[ • sl]Y wjlfO]hZY{O QR \R<[ w
O e `be\[]LNlft<e\VO][SY\l OmMdVxLNRFY{VKMdVKq jY\VKTXY\[QqnIKR<loO]hZY{Oo`be\[oY\Vw WKY\Md[ e\` fe\[]TKl M OShxMdTkR<VOSMPtFY\_
LNRFY\VKMPVKq R<M OShKRU[e\VKRz` Y\_d_PloMdVOSeNTKMPl]IKlQRpe\[ O]hKRUwXJkMP`bIK[QtFY{O]RpMPVXL:R<Y\VKMdVkq ~8V R t<RU_d_dRUVO8MP_d_dIkl CHH
•
G
OS[]Y{OSMPenV>e\` O]hKMdlWaenMPVO8Mdl 1 t oY _dR w lpRkY\LNWK_dR*e{` O]hKR*IKl]Y\qnR
e\` O]hKR
WZY\[]Y\WKhK[]Y\l]RUl Y\VKT ;".; 9 < &1&t oY _dRUw
hKMP_dR NMdlTKRUcZVkR<T"_dM OSRU[SY\_P_Pw Y\l ;".; < 5aMPO
l]RUR<LNlvOShKY{O ;".; < MP_d_VKe\OgJaRfIKlQR<TnlQMdVKtUR DR<VKtUenL:WKY\l]lQR<lvO]hKRfl]Y\L:R LNRFY\VKMPVKqY{l
MPO]l lQwjVO|Y\t OSMdt<Y\_d_ w
t<e\L:WK_PR R<iIKM{Y\_PR<VO ;
De5 R\R<[kMdVNl]enLNR tFY\lQR<l ;".; < fMdl lQR<_dRUtUO]R<T
5e nRU[zWKMdV a`ben[R kY\LNWK_PRTKRUl]t<[QMdJKMPVKqxY tUen_den[ hKMPt|h"MdlWZY{_dR<[OShZY{V"[]R<T"JkIkOzVKe\O8l]exWZY{_dRO]e
JaRWKMPV 1&t oY _dR w>Y O]OS[QMdJKIOSR<l OShkMdl ` Y\tUOOSe:t<enV nRU[]l]Y{OSMPenVZY\_ŠMdLNWK_PMdtFY OSIK[QR Qe\VK9
R enIK_PT
qne2OSeOShKR R en[QO:e\`8lSYFwjMdVKq WZY\_dR []RUTMPVKlQO]RFY\T e\`WKMPV 0enVK_ w0MP`DOShKRU[]=
R fRU[]R lQenLNR [QRFY\lQenV
hw WKMd;V enIK_dT JaRxMdVZY{WKWK[]e\WK[]MdY{OSR HRU_dRUtUOSMPVKq ;".; < Y\_P_d5e lO]e Y"lQWR<Y \RU[:LNen[]R
WK[QR<t<MPl]RU_PwXt|hZY\[]Y\tUO]R<[Q0M /<Rt<en_Pen[ enVK_ wXJRUtFY\IKlQR NR Mdl OSlDMdVXOShKR_^Y\VKq\IZY\qnR `be\[R kY\L:Wk_dR l]Ikt|h:YTkMdlQO]MdVKt OSMPenV enIK_PT
JR MdLNWenlQl]MPJK_dR `ben[vq\[]R<RUV <3 V Y\TkTKMPO]MdenVpOSezTKRUVKe\O|Y OSMde\VZY\_ {Y\[]MdY\VOSl Md_P_dIKl OS[]Y{OSRUT Y\J5e \R jlQwjVKenVwjL:l tFY{V TKM RU<[ MPOShN[]RUl]WaR<t O O]epO]hKR<MP[ClQO wj_dMPlQOSMPto`bRFY{O]IK[]RUl "$ < 0)) < kO]hKR<MP[ t<enVKVke\O|Y{O]MdenV )
+ = ) ; ! oY\VKTXOShkR<Md[ l OS[]IktUOSIk[SY\_ {Y\[]MdY{OSMPenVKl
< ;" )) ".9 ".= f_dY\[ • CTKLNenVKTklDY{VKT DMd[QlQO •\–n–• hkRtUenVKt<_PIKl]MPenVxe\` OShKRUl]RpY\[QqnIKLNR<VOSlmMPloOShZY{O Vke O]R jOMdloMPVOSR<[Qt|hZY\VKq\RFY\JK_P,
R MPOShXY{Vw
e\O]hKR<
[ M OShKenIOpY TKMdl OSen[ OSMde\V"R R<tUO *~oO cZ[]l O qn_^Y{VKt<R ŽOShKMPlzl]R<RUL:lO]eX[]RU`bIOSR
OShK6
R \R<[ w2MdTKR<Y
e\`lQwjVKe\VwjLw…Y{VKT WZY\[SY{WKhK[SY{l]MdVkq Cl]MPVKt<RxVK5e fRXY\[QRxt<_dY\MdLNMdVKqXOShKY{O
OShKRU[]RxMPl QenVK_ w.enVkR
fY w:OSe
l]Y w:OShKR8lSY\LNR8OShkMdVKq ;kY\VkTXY\Vw Y\_ OSRU[]VZY{O]M \R fY w e\` lSYFwjMdVKq
M O MP_d_ MdVOS[QeTkIKt<RlQenLNR
TKM RU[]R<Vkt<R e R \R<[ aMPVxL Y{Vw:t<e\VO]R jOSl OShkMdloTKM RU[]RUVKt<RzMPloVKR<q\_dMdq\MdJK_PR hKR WZY\[SY{WKhK[SY{l]MdVkq
WKhKRUVKenLNR<VZY
R kMPlQOMdVx_dY\VKqnIKY\qnR kJRUtFY\IKlQR l]WaRFY {R<[]lDY\[QRztFY\WZY{JK_dRze\`vY\JKl OS[]Y\tUO]MdVKq
5e nRU[O]hKR<lQR
TKM RU[]R<Vkt<R<lpY\VkT[QRFY\_P0M /UMdVK#
q hKR<V2O feXWKhk[SY\lQR<lpY\tUO]IZY\_P_Pw&[]RU`bRU[OSe O]hKR
lSY\LNR*OShkMdVKq p~oOzOShkR
lSY{L:R*O]MdLNR }l]WaRFY \R<[Qlt<Y\V Wk[]ejTKIKt<R WZY{[SY\WKhk[SY\lQR<l hKMdt|h Y\[]R IKVKY\L*JKMPqnIKenIKlQ_Pw&MdVOSRU[]WK[QRUO]R<T
Jw OShkRp_PMdl OSR<VkR<[
~Dt VK5e _dR<TkqnMdVKq>O]hKR R kMPlQO]R<VKtURxe\` TKMR<[QR<VKtUR<l
Y{L:enVkq>lQwjVKenVwjLNl _dMPVKqnIKMPlQOSl MPVO][]e C H ESG
CHH
%
5 4<> 0< =:0< 1
71!#"$ = K
5 5 A< 1 < 3 .57:>E.0<'& 0< ()*+,"-- E<> F:=<
<
=
!.
%
6
/ "
,
..
.=/D>
& 1%K
•
CHGD
H
TKIKtUR<T Y>VKe\O]MdenV0e\`9 " &) = - = ! = f[QIKl]R TkL:enVkTKl
Y\VKTMd[]l O •\–n–n• 8 hkMdt|h
TKRUVKe\OSRUl en[]Tkl:OShKY{O Y{[]R QMdVO]IKMPO]MnRU_Pw nR<[ wlQMdLNMd_dY\[MPV LNRFY\VkMdVKqJKIkO:tFY\V VKe\O:JR MdVO]R<[
t|hZY\VkqnRFY\Jk_dR MPV.L:Y\Vw2t<enVO]RjOSl' M OShKe\IkO*t|hZY{VKqnMdVkq l]e\L:RNl]RUL Y\VO]MdtNen[WK[]Y\qnL:Y{OSMPt Y\l]WaR<t O
e\`CO]hKR*_^Y{VKqnIZY\q\R y M nRUV>OShKMPl8TKR cZVKMPO]MdenV-aO]hKR*TKMPlQOSMPVKtUO]MdenV JaRUO R<R<VVKR<Y\[ lQwjVKenVwjLw"Y{VKT
WZY\[]Y\WKhK[]Y\l]MPVKq*MPloJK_dIk[][]RUT en[fJae\O]h ktUenVOSR jO TKRUWRUVKTKRUVKtUwXWK_dYFwloY\VxMdLNWe\[QO|Y{VO []e\_dR
hKR
t<e\VO]R jOTkR<WaR<VKTKRUVKtUw&LNRFY\VKl OShKY{OJR wnenVKT&O fe e\[ O]hK[]RURl wjVKenVwjL:le{`CY fen[QT>_dMPlQO]R<TXMdV&Y
TKMPtUOSMPenVZY\[ w vY l]MPqnVKMPcKtFY\VOS_ w2hKMdq\hKR<[pVIKL*JaR<[*e\` e{OShKRU[ en[]TKltFY\V Y\t O
Y\lMPO]lWZY\[]Y\WKhK[]Y\l]RUl
MdV2YxlQWRUt<MPcKt
t<enVOSR jO CTKLNenVKTklY{VKT DMd[QlQO •\–n–• DIKl]R TKMPtUO]MdenVZY{[]MdRUl8e\` lQwjVKe\VwjLNlpY\l Y
l]e\IK[]tUR
e\` VKRFY{[ l wjVKenVwjL:l f_dRFY{[]_Pw aO]hKR<lQR
[]RUl]enIK[Qt<RUlpTke VKe\O8WK[]5e jMdTKRl];I Nt<MPR<VO t<5e \R<[SY{qnR
e\`CVkRFY\>[ lQwjVKe\VwjLNl Y\VKT"Y{O]enLNMdtzWZY\[]Y\WKhK[]Y\l]RUl MdV q\R<VKRU[SY\_ e\[DR KY{L:WK_PR ZOShkR en[]TKl "< "$ 2Y\VkT "<0)(*)) "Y\[QR WRU[Q`bRUtUOS_ w$lQIKJKlQO]MPO]IkO|Y\Jk_dR MPV.OShKR t<enVOSR jO:e{` l]R<VO]R<VKtUR<l -`b[]enL
MPqnIK[]R • 5e fR nR<[ kOShkRUw:Y\[]RVKe\O lQwjVKe\VwjLNl "<"$ Mdl L:e\[]R l]WaR<tUMPcZtDMdVNMPOSl LNRFY\.V MdVkq O]hKR<V <0)(*)) 3 V.` Y\t O vMPV O]hKR en[QT DR O*hKMPR<[SY{[]t|hw "<"$ MPlY hwWaenVwjL’e{` Y
en[]T "<0)( )) ~ VZY OSIK[]Y\_siIKR<l OSMPenV hkR<[]R MPlzhK5e -OSeXR kWk_denM OzR Mdl OSMPVKqx_dR kMPtFY\_v[]R<lQenIK[Qt<R<l OSeXenJO|Y\MPV
Y{O]enL:MPtXWZY\[SY{WKhK[SY{l]R<l 3 Ve\O]hKR<#
[ fen[QTKl hZY O O wjWRUl e\` _dR MdtFY{_[QR<_dY{OSMPenVKl fJR wnenVKTl wj.V enVwjL:l CtFY\V$wjMPR<_dT WZY\[]Y\WKhK[]Y\l]RUl <
jMdTKRUVOS_Pw Cl]enLNR _PR Mdt<Y\_ []R<_dY{OSMPenVKlY\[]R:L:e\[]R _P0M {R<_Pw"O]e
wjMdRU_dT
WZY\[]Y\WKhK[]Y\l]RUlCOShZY\V e\O]hKR<[Ql hkRtUen[][QR<lQWenVkTKR<VKtURDJaRUO R<RUV:WKY\[SY\WkhK[SY\lQR<l Y\VKT
O wjWaR<l e\`
_dR MdtFY{_v[]RU_^Y{O]MdenVkl8hZY\l VKe{OzJRUR<VMdV nRUlQO]MdqY{O]R<T2lQwjl OSR<L:Y{O]MdtFY{_d_Pw 3 V VIKLNR<[QenIKl Y\WKWk_dMdt<Y{OSMPenVKl
en[]T RUO MPlIkOSMP_dM /<R<T&OSe Y\t<iIKMP[]R Y{O]enLNMdtWKY\[SY\WkhK[SY\lQR<l 63 V2l]enLNR
Y\WKWk_dMdt<Y{OSMPenVKl enVK_ w l wj.V enVwjL:l Y{[]Rzt<e\VKl]MPTKR<[QR<T&Y\lmWZY\[]Y\WKhK[]Y\l]RUl Y\VKq Md_PTKRzY\VkT 6 VKMPqnhO kMdVxe{OShKRU[]l Z_Pee\l]R<[
TKR cZVKMPO]MdenVkl
Y\[]R IKl]RUT oY\:[ /<Md_dYFw.Y{VKT C_dhZY\TKY\T hKRxR MdlQO]MdVKq"_PMdVKq\IKMdl OSMdt
O]hKR<en[QMdRUl
TKe2VKe\O*qnM \RXY\V…Y\VK:l R<[
O]e2O]hKMdlijIkR<lQO]Mden-V 3 V fhZY\WkO]R<[ — R lQhK5e hK5e t<en[QWKIKl JZY\lQR<T
OSRUt|hKVKMPijIkR<l
tFY{V0JR:IKl]RUT O]e"Y\TKTk[]R<lQl*OShKMPliIKRUlQO]MdenV en[pVK5e < Rxt<enVOSMPVIKR enIK[l]IK[ nR w
F
F
F
C
Q
CHHE
CHHG
F
—n–
MPO]hX_dMdVkqnIKMdl OSMPtDOShkR<en[QMdR<l TKR<Y\_dMPVKq6 MPO]hXt<enLNWe\l]MPO]MdenVKY\_WKY\[SY\WkhK[SY\lQR<l
$
+ + 4
Kh MP_dRY OSenLNMdt WZY\[]Y\WKhK[]Y\l]RUl fRU[]RjMdRfRUT Y\lo_dRMdt<e l]RUL Y{VO]MdtWKhKRUVKenLNR<VZY;t<enLNWaenl]M OSMde\VZY\_
WZY\[]Y\WKhK[]Y\l]RUl R<[QRO][]R<Y{OSRUT Y\l WZY{[QO e\` Yp_dY\VKqnIKY\qnRoqn[]Y\LNL Y\[
hkMdl jMdRenV t<enLNWaenl]M OSMde\VZY\_
WZY\[]Y\WKhK[]Y\l]RUlCY\lsl wjVOSY\tUO]MdtoWkhKR<VKe\L:RUVKenV*en[QMdqnMPVZY{O]R<lŠ`b[]enL3OShkR [SY\VKl `ben[]L:Y{O]MdenVZY{_jy []Y\L:L:Y\[
TZYFwjl JKIkO*_^Y{O]R<[O]hKR TKMPl]tUenVKVKRUtUOSMPenV$e\` tUenLNWenlQMPO]MdenVZY{_ WKY\[SY\WkhK[SY\lQR<l`b[QenL OShKR _PRMdtUenV$MPV
OShkMdlv`b[]Y\L:R fe\[ oY\ls`be\IKVKT*OSe8JRmWK[QenJK_PR<L:Y{OSMPt hKRmJK[QMdTKqnR JR O fRUR<VN_dR kMPt<e l]RUL Y\VO]MdtoY{VKT
lQwjVO|Y{tUOSMPt jMdR lCe\V*t<enLNWaenl]M OSMde\VZY\_WZY\[]Y\WKhK[]Y\l]MPVKq fY\l Y\t|hKMPR nRUT Jw R jO 1&RFY\VkMdVKq hKRUen[Qw
hKMPt|h MdlY _dR kMPt<e l]RUL Y\VO]MdtzLNeTKRU&_ hKR R j,O 1 RFY\VKMPVKq hkR<en[ w Y\VKT [SY{VKlQ`ben[QL Y OSMde\VZY\_
yz[SY\LNL Y{[*Y\[QR TkMdl]tUIKl]lQR<T _^Y{O]R<[
MdV0O]hKMdl
lQR<tUO]Mden-V rR<lQWKMPO]Rxl]IK[ ` Y\t<R TKMR<[QR<VKtUR<l OShkRXO e
OShkR<en[QMdR<lfR hKMdJkMPO Y*lQMdqnVKM cZtFY{VOol]MdLNMd_dY\[]M O w
MdV O]hKRWK[QMdLNen[]TkM^Y\_ []e\_dR8O]hKRUw qnM \R8OSe
WZY{[SY\WKhk[SY\>l MdVkq fe{OSh `b[]Y\L:R fe\[ llQOSY\[QO MPOSh TKR<RU.W l OS[]IktUOSIk[]R bO]hZY{O8Mdl Y l]RUL Y{VO]Mdt[]R<Wk[]R<lQR<VO|Y OSMde\V Y\VKT IKlQRY {Y\[]MPRUO w e\`gO][SY\VklQ`ben[QL Y{O]MdenVklfOSeNWK[]ejTKIKtUR l]IK[ ` Y\t<RplQO][]IKt OSIK[QR<l MPOShxO]hKR L:R<Y\VKMdVkq
[]RUWK[]RUl]RUVO]R<T&JwNOShkRzen[]MPqnMdVZY{_aTkR<R<W lQO][]IKt OSIK[QR fIkO MPV l]hKY\[]WxtUenVOS[SY{lQOmOSe*O]hKR [SY\VklQ`ben[QL Y OSMPenVZY\_oy []Y\LNL Y\[Y\WKWk[]eY\t|-h hKMPt|h tFY\WkO]IK[]RUl:tUenLNWenlQMPO]MdenVZY{_ WKY\[SY\WkhK[SY\lQR<l MdV0q\[SY\LNL Y{[ R jO 1&RFY{VKMdVKq hKR<en[ w RUL:WKhKY\l]M /<R<loO]hKR_PR Mdt<Y\_VKY{OSIK[QRe\`ŠOS[]Y\VKl `ben[]L:Y{OSMPenVKl Jw [QR<WK[QR<l]RUV:O MdVkq O]hKR<L(MPVxOShKRp_dR kMPt<en-V R<_d5e + RpcZ[QlQOJK[QMdR kwXenIkOS_PMdVKRDOShKRpJZY\lQMdt<l e\`vRFY\t|h OShKRUen[Qw Y{VKT
OShkR<V TKMdlQt<IKlQlO]hKRzOS[]R<Y{OSLNR<VOe\`gt<enLNWaenl]M OSMde\VZY\_aWZY\[SY{WKhK[SY{l]R<l M OShKMPVXO]hKR<lQRpO]hKR<e\[]MdRUl 1 ?M%"! # $&!% 1 S6%<! 1 %N) !%N66 %<
hKR nq en_PTKR<VpY\qnR e\`lQwjVO|Y{tUOSMPt WKY\[SY\WkhK[SY\lQR<l oY{l O]hKR WRU[]MdejT e\`Ky RUVKR<[]Y{OSM nR []Y\VKl `ben[]L:Y{OSMPenV.
Y\_ y []\Y LNL Y\[lQO|Y{[QOSRUTxJw DY\[][QMdl
Y Y\VKT fhkenL:l:w
hKRt<e\VKt<RUWkO e\`}OS[]Y\VKl>
`ben[QL Y{]O MdenV- tUR<VOS[]Y\_O]e O]hKMdlNqn[SY{L:L:Y\[ t<e5\R<[]l L:R<Y\VKMdVkq WK[QR<lQR<[:jMPVKqO][SY\VklQ`ben[QL Y{O]MdenVkl CHGC
CH E
<C
—
lQwjVO|Y{tUOSMPt2WZY\[SY{WKhK[SY{l]R<l
hKMd_PR"WKIK[QR>OS[SY{VKlQ`ben[QL Y OSMde\VZY\_qn[SY\LNL:Y\[]lxY{[]R"enIkOXe{`` Y\lQhKMde\V
VK5e fY\TZYFwjl O]hKR<MP[ Y{O]O]R<LNWkO OSep[]R<Wk[]R<lQR<VOmWZY{[SY\WKhk[SY\lQR<l MPOShkMdV:Ypqn[]Y\LNL Y\[vqnM\R<l MdVOSRU[]R<l OSMPVKq
MdVkl]Mdq\hO]lmenVXOShKR WZY\[]Y\WKhK[]Y\l]MPVKq
WKhKRUVKenLNR<VKe\V
~ [SY{VKlQ`ben[QL Y OSMde\VZY\_y []Y\LNL Y\[ tUenVKl]MPlQO]lme\`gY*WKhK[SY{l]RzlQO][]IKt OSIK[QRzt<enLNWaenVKR<VO Y{VKTXY
OS[]Y\VKl `ben[]L:Y{OSMPenVZY\_ t<e\L:WaenVKRUVO hkR WkhK[SY\lQR lQOS[QIKtUO]IK[]R WK[QeTKIkt<R<l \R<[Qw JKY\l]MPtClQwjVO|Y\t OSMdtCO][]R<RUl
`b[]e\LTKR<RU.W l OS[QIKtUO]IK[]R []R<Wk[]R<lQR<VO|Y OSMde\VKl \O]hKR<lQR l wjVOSY\tUO]Mdt OS[QR<R<l hZY nR OSe JaR `bIK[ OShKRU[Š[]RUcKVKR<TJw
OShkR O][SY\VklQ`ben[QL Y{O]MdenVt<enLNWe\VKR<VO 83 V Y\TkTKMPO]MdenV*O]epWKY\[SY\WkhK[SY\lQMdVKq [QIK_dRUl nOShkR O][SY\VklQ`ben[QL Y{O]MdenV
t<e\L:WaenVKRUVO&t<e\VOSY\MdVkl [QIK_dRU=
l M OSh Y {Y\[QMdR O w e\`*[Qen_dRUl 8`ben[XR KY{L:WK_PR [QIK_dRUl O]hZY{O R<Vkt<ejTKR
LNen[]WKhken_denq\MdtFY{_ae\WRU[SY{O]MdenVKl bVIKL*JaR<[ Y\qn[QR<RUL:RUVODY\LNenVKq
lQIKJ QRUtUO8Y\VKT nRU[]J Y\VKTX[]Ik_dR<lo`be\[
qnRUVKR<[]Y{OSMPVKq&tUenLNWK_dR 2l]RUVO]R<VKtUR<l &~ OS[]Y\VKlQ`be\[]L:Y{OSMPenV2[]IK_PRNlQWRUt<M cZR<lY l OS[]IktUOSIk[SY\_ Y\VZY\_ wjl]Mdl
e\`CO]hKR*lQO][]MPVKqnlDO]e hKMdt|h"M OY{WKWK_dMPR<l8Y\VKT O]hKR*lQO][]IKt OSIK[]Y\_st|hZY{VKqnRO]hZY{OM OMPVKTKIKtUR<lenV>O]hKR<lQR
lQO][]MPVKqnl MdqnIK[QR • lQhK5e l8Y{V&R KY{L:WK_PRze\` OShKR WZY\lQl]M nR OS[SY{VKlQ`ben[QL Y OSMde\V F
R
?> =3>
?> =3 >
;: 1 /21
3 . ;: ;< , + #"
+
,
9<
<:
$*
F MdqnIk[]R • R 8kY\LNWK_dRUle{`vlQR<VOSRUVO]M^Y\_}WKY\[SY\WkhK[SY\lQR<l
wNY\WKWK_ wMPVKqzTKM RU[]R<VO OS[]Y\VKl `ben[]L:Y{OSMPenV
[]Ik_dR<lCO]eY TKRUR<WNlQOS[QIKtUO]IK[]R RtFY\VNWK[]ejTKIKtUR
{Y\[]MPenIKl}lQIK[Q` Y\tURfl OS[]IktUOSIk[]R<l t<e\[][]RUl]WaenVKTKMPVKqDO]emOShKR en[]MPqnMdVKY\_\TKRUR<WlQOS[QIKtUO]IK[]R hIKl\MdVzOSRU[]LNl
e\`CO]hKR [SY\VklQ`ben[QL Y{O]MdenVKY\_ y []Y\LNL Y\[ZWZY\[]Y\WKhK[]Y\l]RUlzY\[]RWZY\MP[]l8e{`Cl]RUVO]R<VKtUR<l, MPO]h>MdTkR<VOSMPtFY\_
TKRUR<W l OS[QIKtUO]IK[]RpY\VKT TKM RU[]R<VOl]Ik[Q` Y\tURpl OS[QIKtUO]IK[]RUl [SY{VKlQ`ben[QL Y OSMde\VKl Y\WKWaRFY\[}OSeJaRfY VZY{O]IK[SY\_ fYFwpO]eD[QR<WK[QR<lQR<VOsl wVOSY\tUO]MdtfWKY\[SY\WkhK[SY\lQR<l D5e R \R<[ aOShKRUMd[ Y\TkTKMPO]MdenV O]eNO]hKR qn[SY\LNL:Y\[ot<e\L:RUl M OSh&YNtUenlQO RUwne\VKT>l]MPqnVKM cZtFY\VO tUen4L WKIkOSY{OSMPenVZY\_5e nRU[]hKR<Y\T nL:Y\VwpMdl]lQIKR<l Y{[]enlQR `b[]e\LO]hKRo_PMdVKqnIkMdlQO]Mdt l]MPTKR en[QTKR<[ge\` []IK_PRoY\WkWK_dMPtFY -!.0<
35768 < /D> 5;IJ>E.0<
"
B66
+
C@/ >F. > B:=1 I 5 E6 >E/ 57:=1 /A1@< & 0/"! <:7>!>E5
+
/
- E/ : 6 73 .0/ :=<;K
—•
OSMPenVjMdVOSRU[SY\t OSMPenV Y\LNenVKqpOS[]Y\VKlQ`be\[]L:Y{OSMPenVKl fYFwl OSe*tUenVKlQO][SY\MPV OShkR[]IK_PR<lkY\VkTxl]e*enV-
zVkR
l]Ikt|h.MdlQl]IKR [QR<_dR {Y\VOpO]eXenIK[ TKMdlQt<IKlQl]MPenVKl Mdlz_PRMdt<Y\_sTKRUWRUVKTKR<VktUwe\` OS[SY{VKlQ`ben[QL Y OSMde\V"[]IK_PR<l
<
jMdTKRUVO]_Pw aL:Y\Vw O][SY\VKl `ben[]L:Y{O]MdenV [QIK_dRUlY\[]R hKR<Y5jMP_PwxtUenVKTKM OSMde\VKR<TXenV _dRkMPtFY\_ MPOSRUL:l
\R<V
`ben[OShKR
LNenlQO8qnR<VkR<[SY{_sWZY\[]Y\WKhK[]Y\l]MPVKq WZY{OQOSRU[]VKlzlQIKt|hY\l8OShkR Y\tUO]M nR WZY{l]l]M nR
WZY{[SY\WKhk[SY\lQR*e\`
OS[]Y\VKlQMPOSM n,
R nRU[]JKl O]hKR<[QRY\[QRlQenLNRpR t<R<WOSMde\VKl olQIKt|h"Y\l l]enLN9
R \R<[QJKl a_dM \R ) ! ; ;ZTKe
VKe\OmO wjWKMPtFY\_P_Pw:etUt<IK[mMPVXWZY\l]lQM \R hIKl aY\WKWk_PwjMdVKq*O]hKRzOS[]Y\VKlQ`be\[]L:Y{OSMPenV `b[]e\L MPqnIK[QR • O]e
OShkR l]RUVO]R<VKtUR " ;0 ) ! ; < + ; ;0 MP_d_ []R<lQIK_PO*MdV.O]hKR ejTKT0l]RUVO]R<VKtUR + ; ;0 9 " )
) ! ; < = " ;0;
hkMdlz_dR MdtFY{_sTKR<WaR<VkTKR<VKt w.MPlzR \R<V.LNen[QR
enJ MPenIKlz`ben[ e\O]hKR<[zO wjWRUl
e\`WZY\[]Y\WKhK[]Y\l]RUl l]Ikt|hY\lTZY{OSM nR LN5e nRUL:RUVONY{VKT0VKenLNMdVZY{_d0M /<Y{OSMPenV hKMdlt|hZY\_d_PR<VKq\R<T$OShkR
VKe\O]MdenV e\`Cl wjVOSY\tUO]Mdt*WKY\[SY\WkhK[SY\lQRMPV qnRUVKR<[]Y\&_ l]hkMP` OSMPVKqNlQwjVO|Y\t OSMdtWZY\[]Y\WKhK[]Y\l]RUlMdVOSe Y:tU_^Y\lQl
e\`g_dR kMPtFY\_ WKhKR<VkenL:RUVZ;Y RUwne\VKT…O]hKR [QR<WK[QR<l]RUVO|Y{O]Mden.V []RU_^Y{O]R<T0MdlQl]IKRUl en[ enV [SY\VKl `ben[]L:Y{O]MdenV$y []Y\L:L:Y\[
qnM nR<l IKl lQenL:R MPVKl]MPqnhOmMdVOSe
O]hKRzO wWaen_Penq\w e{`vl wVOSY\tUO]MdtzOS[]Y\VKlQ`be\[]L:Y{OSMPenVKl 8Y{[][]MPl Y
_dMPlQO]R<TY{[]enIKVkTO fRUVO wTKMR<[QR<VO tU_^Y\lQl]RUl e\` lQwjVO|Y{tUOSMPt WZY{[SY\WKhk[SY\lQR<l qn[QenIKWKMPVKq O]hKR<L Y\t t<e\[]TKMPVKq:O]e:OShkR<Md[ qn[]Y\VIK_^Y{[]MPO w R q l]RUVOSR<VO]M^Y\_gWZY\[SY{WKhK[SY{l]R<l nRU[]l]IklWZY\[]Y\WKhK[]Y\l]RUlJR O fRUR<V
VKenIk.V WKhk[SY\lQR<l Y\VKT l]RUVOSR<Vkt<R<l DMPlst<_dY\l]l TKRUl]t<[QMdWkO]MdenVkl Y\[]Roe{` OSR<V
O]ee qnRUVKR<[]Y\_kOSe JaRmIKl]R `bIK_ `ben[ R kY\LNWK_dR kenVKR8e\`ŠhKMdl t<_dY\l]lQR<l t<e\VOSY\MdVklmY\_d_ e\`ŠO]hKRWZY\[]Y\WKhK[]Y\l]RUlot|hZY\[]Y\tUO]R<[Q0M /<RUTXJw
OShkRxt|hZY\VKqnRxe{` en[QTKl MdV$OShkRxl]R<VO]R<VKtUR flQIKt|h Y\l
WZY\[]Y\WKhK[]Y\l]RUl
MdV MPqnIK[]R • . hKMdt|h…Y\[QR
nRU[Qw"TkMdlQO]MdVKt OzMdV>O]hKR<MP[VZY{O]IK[]R rRUl]WKM OSR
M OSllQhKen[QO]t<enLNMdVkqnl ŽhkMdl_PMdlQO8MdVKtU_dIKTkR<l Y {Y\[]MPRUO w&e\`
WZY\[]Y\WKhK[]Y\l]MPVKq O wWaR<l ŽY\VkT [SY{Mdl]RUlO]hKRpijIkR<lQO]MdenVklY\JaenIkOhK5e 3L:Y\VwXlQwjVO|Y\t OSMPtWZY\[]Y\WKhK[]Y\l]RUl
Y\[QR8OShKRU[]R 8Y\[Q[]Mdl VKe\O]R<lfO]hZY{OfO]hKR_PMdlQOfMdl VKe\OoR hZY\IKl OSM \R Y\VkT TKenIKJOSloOShKY{OmY\V R hZY\IKl OSM nR
_dMPlQO MP_d_ŽJaR MdTKRUVO]MPcZRUT 5e fR nR<[ hkRtUenV QR<t OSIK[QR<lOShZY{O `ben[ L:Y\VwXY\WKWk_dMdt<Y{OSMPenVKl hkMdl _dMPlQOmMPl
F
R
CHGC
R CR
F
E/A18 F578G5?1 < >E5 =1 <*8 B80. ;1F<1I 5 0/A1E35 E1F< B: F1 /A1 =1F/A: > B:=1 I 5 E6 >E/ 57:=1>F5 E< =3%<
< !7< F1 <%:?>F<:=3<*>E5 >F.=<(1 /A68 A<1 >$1 :?> 73>E/A3 I 5 F6 ;< F:=< @I 5 F6 ;: !F> .=<%: ;808
< 1I 5 1 <6 B:?>F/23
/A:7>E< E8 E<> B>F/A5;:$I 5 7< E:0< 1F<%:?>F<:=3< 1%K
%
"
+
+
"
?
) "
,
&
+
&
#"
,2
—n—
l]I.:tUMdRUVO
-!.0< 8 /23H.0< AC 1 < 1 8=/A1F< K -!.0<H8 /23 AC 1 .0< 0<1F80/A1F< K
< ;:*/ : !;<%>F< B>F< / 9< F> E/ B: G5;8089571F< $>F.=<
6< ;1 E<;K
: /A: !;<%>F< >E<
*
A/ 9< F> F/ B: .=< 578089571F< >F.0< 6< 71 F<7K
" & ,
F Mdq\IK[]R
•
.
&
,
5 # "
,
&
,
,
, ,
+
ugY\[SY\WkhK[SY\lQR<lqnR<VkR<[SY OSR<T&Jw OShKR l]Y\L:Rz[QIK_dRUlY\t<tUen[]TKMPVKq
OSe8Y{[][]MPl
jH MdVKtUR O]hKR WkIKJK_dMPtFY{O]MdenVze{` ( "<:";) !#"$ & ' ( 0)$ $%( $%(. pOShKRU[]R fRU[]Rpl]RnR<[]Y\_gY{O]O]R<LNWkOSlmJw 8Y{[][]MPlY\VKT e\OShKRU[]l DY\[][QMdl J R<R<l – O]e
WK[QeTKIkt<R"YL:en[QR&TkRUO|Y{Md_dRUTY\VkTlQwjlQO]R<L:Y{OSMPt>Y\tUt<enIkVO e\` WZY\[]Y\WKhK[]Y\l]RUl
IkO RnR<VO]eTZYFw
l]R nRU[SY\_ iIKR<l OSMPenVKlXY\JaenIkOXl wVOSY\tUO]Mdt2WZY\[]Y\WKhK[]Y\l]RUl [QR<L:Y\MdVenWRUV
e 6L:Y\VwlQwjVO|Y{tUOSMPt
{Y\[]MdY{OSMPenVKlY\[]RxOShkR<[]R ƒre"OShKR O wjWaR<lNWK[]e\WenlQR<T…Jw 8Y\[Q[]MPl Y\VKT e\OShkR<[]l tUe \R<[ OShKRXLNenlQO
`b[]RUiIKR<VOS_ wXIKl]RUT&e\VKR<l
CHGC Q
?% 1 1 $& , $ 9 ?
CHD
Kh R []Y\VKl `ben[]L:Y{OSMPenVZY\_Žy []Y\LNL Y\[ `betUIKl]RUlDe\V&l wVOSY\tUO]MdtpWZY\[SY{WKhK[SY{l]R<l
e5fRnR<[tUenLNWe l]M OSMPenVZY\_Š[]Ik_dR<lDtFY\V"JaR*WKIk[]R<_ w _dRMPtFY\_ MdV O]hKR<MP[8VZY OSIK[QR
~DV"RkY\LNWK_dRe\` Y\V2Y\WKWk_dMdt<Y{OSMPenVXe\`
l]Ikt|h Y [QIK_dRMdlq\M nRUV"MdV>lQR<VOSRUVKt<R WZY{Md[ `b[QenL Mdq\IK[]R • hKR<lQRN[QIK_dRUl R<[]R*cK[]lQO l OSIKT MdRU#
T M OShKMPV 1&RFY\VkMdVKq R jO hKRUen[Qw 1
CTKR\R<_de\WRUT Jw 1&R<_Pt<I &1 R<_dtUI sY\VKTNhKMPl
t<e\_d_dR<Y\qnIKRUl ~DlCMdVO]hKR [SY\VklQ`ben[QL Y{O]MdenVKY\_jy []Y\LNL Y\[ O]hKR 1
TKRUl]t<[QMdJaR<lsO]hKRo[]RU_^Y{O]MdenVe\`aYDO]R jO
OSepMPO]l _dMdVkqnIKMdl OSMPtoL:R<Y\VKMPVKq JwN[QR<WK[QR<l]RUVOSMdVkq*Y\V:IkO]O]R<[SY{VKt<RDenV:lQR \R<VxTKMPlQOSMPVKtUO _PR nRU_dl [SY{VKqnMdVkq
`b[]e\L6OShkRNlQR<L:Y\VOSMPtN_PR \R<&_ ŽO]hK[]e\IKqnhlQwjVO|Y\t OSMdt _PR nRU_dl ŠO]exOShKR WKhKe\VKRUO]Mdt _dR nR<_ #1&RFY{VKMdVKqXMPl
O|Y \R<V
O]ezJRmY{V
MdV {Y\[]MdY\VOve\`al wVkenVwLNMdt OS[SY{VKlQ`ben[QL Y OSMde\VKlvJaRUO R<RUV:IkOQOSRU[SY\VKtUR<lCen[QMdqnMPVZY{O]MdVKq
`b[]e\L@OShkRpl]Y\LNRplQR<L:Y\VOSMPtz[]R<Wk[]R<lQR<VO|Y OSMde\V ~DVXIkO]O]R<[SY{VKt<R tFY{V JaRL:Y\WKWaR<Tx`b[]e\L@M OSlo_PMdVKqnIkMdlQO]MdtL:R<Y\VKMPVKqOSe*O]R jO OShK[QenIKqnhxR<Y\t|h
F
F
C
CHGG
—
R
_dRnRU_}e\`v[QR<WK[QR<lQR<VO|Y{O]MdenV&JwXY\WKWK_ wjMdVKq
WZY{[SY\WKhk[SY\lQMdVKq []Ik_dR<lmO]hZY{O []RUWK_^Y{t<R WZY\[ O e\`gO]hKR IkO]O]R<[>
Y\VKtUR M OSh:YVKR IkO]O]R<[SY{VKt<R8Y{O O]hKRlSY\LNRD_PR \R<&_ jen[COS[]Y\VKl `ben[]L:Y{OSMPenV []IK_PR<l OShZY OftUenV nR<[ OoOShkR
IkOQOSR<[]Y\VKtUR `b[QenL enVKRz_dR nRU_ OSeNY\VKe{OShKRU[ 3 VXl]hZY{[]WXt<enVO][SY\l O M OSh [SY\VklQ`ben[QL Y{O]MdenVKY\_Žyz[SY{L4
L:Y\[ g_dR MPtFY\_ VK5e _dR<TkqnR qn5e nRU[]VKl*O]hKR L:Y\WKWKMPVKq WK[]ejt<RUl]l Y{ORFY\t|h0_PR nRU&_ slQe>OShKR:L Y{WKWKMdVkq
[]Ik_dR<lmO]hZY{OY\[QRY{WKWK_dMPR<TxTKRUWRUVKT e\VXO]hKR _dR kMPtFY\_ R<VOS[QMdR<l e\` OShkR en[QTKlDMPV nen_ nR<-T fe\VKl]RUijIkR<VOS_ w OShKR _PR MdtUenV st<Y\_d_PR<TOShKR ; " "$ = ! "$> %".; $%& "= WK_dY wjlzY:t<R<VO][SY\_s[Qen_dRpMdV&OShKMPl8`ben[]L:Y\_PMdl]=
L ~8LNenVKq:e\OShKRU[MdV`ben[]L:Y{OSMPenV ZR<Y\t|h2_dR MPt<enV>RUVOS[Qw
t<e\VOSY\MdVkl hZY{OY\[]RNtFY{_d_dRUT ŽOShkR ) !#"+$% }OShKR ) = +$ "$% NY\VKTOShKR ; ".; ! "$ %".;
)$%($%(. )
hkR ) !#"+$ )$ ($ ( TKRUcKVKR<lpY fe\[]T2l]RUVKl]RNY\lzY lQR<L:Y\VOSMPt*VKRUO en:[ ŠOShkR
VKejTKR<l
e{` hKMPt|h []R<Wk[]R<lQR<VO QWK[QMdLNMPOSM nR en[]T…l]RUVKl]RUl:MPV$OShKRxTKMPtUO]MdenVZY{[Qw hKR ) = +$ "$% )$%($%(. "e{` Y en[]TtUenVO|Y\MPVKl:O]hKR lQe t<Y\_d_PR<T…qn5e nRU[]VKLNR<VOxWZY O]OSRU[]VO]hZY{O:TKR<lQt<[QMdJaR<l hK5e OShkRlQR<L:Y\VOSMdtY\[QqnIKLNR<VOSl {Y\[QM^Y\JK_PR<l MdVXOShkRl]RUL Y{VO]Mdt VKR O fen:[ }Y\[]Rp[]R<Y\_dM /<RUT Y\llQwjVO|Y{tUOSMPt
Y\[QqnIKLNR<VOSl MPVZY\_P_Pw OShKR ; ".; ! "$ %".; )$%( $%(. 2MPlxY$TKRUWRUVKTKR<VktUw lQO][]IKt OSIK[QR
JaRUO R<R<V en[QT l]RUVKl]RUlfOShZY Ofl wl OSRUL Y{O]Mdt<Y\_d_ w*R<Vkt<ejTKR<l OShKRD[]R<l OS[QMdtUO]R<T:_dR MPtFY\_ZtUe ejt<tUIK[][QR<VKtUR<l
e\`gR \R<[Qw en[]T l]RUVKl]R hkR<l]Rpt<e ejt<t<Ik[][]RUVKt<RUlY\[QRzR<VKtUeTkR<T MPV ; ".; ( $ & ;)
Y\t|h_dR MPtFY\_n`bIKVktUOSMPenVpR WK[]RUl]lQR<l YDtUR<[ O|Y\MPV MdVkTe\`k_^Y\VKq\IZY\qnR MdVkTKR<WaR<VKTkR<VOv[QR<_dY{OSMPenV en[8R kY\L:Wk_dR OShKR
_PR Mdt<Y\_ `bIkVKtUO]Mden
V " 1&R<_Pt<I L:Y\WKlY fen[QT"MdVOSe en[QTKl
O]hZY{O MdVO]R<VKlQMP` w F
CHHD
F
" ) ;" ;05) ; " " <! )$% .;=
%( 1 Mdl Y\VXRKY{L:WK_PRe\`vY
_dR MPtFY\_a`bIKVKtUO]MdenV hKMPt|hXMdlml]RUL Y{VO]MdtzMPVxMPOSlmVKY{OSIK[QR
1
MdVkt<_dIkTKR<l _dRkMPtFY\_Z`bIKVktUOSMPenVKl hKMdt|h Y\[]RDJZY\l]RUT enV:lQwjVO|Y\t OSMdtD[]RU_^Y{O]MdenVKll]IKt|hXY\l
* `bIKVKt OSMPenVXL Y\Wkl YNVKe\IKV 3O]e
OShKR,n RU[]J OShZY{O OSY\ RUl Y\l M OSlmTKMP[]R<t O enJ QRUtUO
Y\_dlQe
hKMPl
—
* = $ ; $ ( $ * )$ $ Q RMdt<Y\_g`bIkVKtUO]MdenVKlzt<Y\V2Y\_Pl]e JaR
t<enLJKMdVKRUT>OSexL:Y\R*Y !+ (.<>_dRMdtFY{_ `bIKVktUOSMPenV hKenlQR
LNRFY\VKMPVKq Mdl Y Q
t<enLJKMdVZY OSMde\V$e\`OShKRL:R<Y\VKMPVKq e\`O]hKRMdVKTKM jMdTKIZY{_8`bIKVKt OSMde\VKl
1&R<_Pt<I
t<_dY\MdLNlOShKY{O D – _PRMdt<Y\_s`bIKVKt OSMde\VKlY{VKT O]hKR<MP[ptUenL*JKMPVZY{O]MdenVKl t<Y\V.TKRUl]tU[]MdJaRNlQwjlQO]R<L:Y{OSMPtFY\_P_Pw
\Y VKT RhZY\IklQOSM nRU_Pw Y\_dLNenl OzOShKR4 hKen_PRN[]Y\VKqnRNe\`f[]R<l OS[QMdtUO]R<T _dRMPtFY\_CtUe ejt<tUIK[][QR<VKtUR<lMPV.Y{Vw
_^Y{VKqnIZY\q\R
3 V Y\TKTkMPOSMPenVOSe _PRMdt<Y\_8`bIKVKt OSMPenVDO]hKR2_dRkMPt<enV MPVKt<_PIKTKR<l – WZY{[SY\WKhk[SY\lQMdVKq []Ik_dR<l
hKMPt|h Y\tUt<en[QTKMdVkq O]2
e 1&R<_Pt<I Y\[QR2Y\_d_DOShZY{O Y{[]R"VKRUt<R<lQlSY\[ w OSe t<e5nRU[ Y{_d_8O]hKR2lQwjlQO]R<L:Y{OSMPt
WZY\[]Y\WKhK[]Y\l]RUlMdV>Y\Vw _dY\VKqnIZY{qnR hKRUw>Y\[]R_^Y\VKq\IZY\qnRpMdVKTkR<WaR<VKTKRUVO QIKl OzY\l8O]hKR – _dRMPtFY\_
`bIKVKt OSMPenVKl:Y\[]R ugY\[SY{WKhK[SY{l]R<l Y\[]R R WK[QR<l]lQR<TOShk[]enIKq\h_dR kMPtFY\_o`bIkVKtUO]MdenVKl e\[NR kY\L:Wk_dR OShkR"WZY\[SY{WKhK[SY{l]MdVkq$[]IK_PR>l]hke V MdV MdqnIK[QR • $L:Y\WKlxY \R<[]J VKejTKR 7 O]e Y$lQwjVO|Y OS[]RUR
t<e\VOSY\MdVkMdVKqYl]IkWKWe\[QO \R<[QJx_dMd;V \R<T:OSe*YVKenLNMdVZY\_ w Y{WKWK_PwjMPVKqO]hKMdl []IK_PRO]eOShkR8lQwjVO|Y{tUOSMPt
[]RUWK[]RUl]RUVOSY{OSMPenV.e{` O]hKR l]R<VO]R<VKtUR ".; ) <
" ) < ) ;";== $ ;fRNqnRUO ".; )
D
F
D
F
D
) + 9 < "4) ;" <
" ) XV
Oper (S0 (X))
=
Y
Y
F MdqnIk[]R • ;D R<WK[QR<l]RUVO|Y{O]MnR
S0(X)
OS[]Y\VKl `ben[]L:Y{OSMPenV `b[]e\L
1
hkR`bIKl]MPenV e\`Cl]RUL Y{VO]MdtY\VKT&lQwjVO|Y\t OSMdtR<_PR<LNR<VOSl PM OShkMdV _dRMPtFY\_Ž`bIKVktUOSMPenVKlWe{OSR<V
:0<
1 08089571F<1 >F. >./21 6 ;/23 : =6 9< @/A: (
-@-HK
/ —
D
OSMdY\_d_ w.L:Y{R<l
OShKR 1
`b[]Y\LNR en[ $tUenVKTKIkt<M\R&O]eO]hKRX[]R<Wk[]R<lQR<VO|Y OSMde\Ve\`8WZY\[SY{WKhK[SY{l]MdVkq
WKhKRUVKenLNR<VZ.Y R Mdt<Y\_g`bIKVktUOSMPenVKlDWK[]e5jMdTKR*Y:cZVKROSY enVKenLw&e{` l]R<L:Y\VOSMPt[QR<_^Y OSMde\VKl8Y{L:enVkq
MPO]R<LNl*MdV$O]hKRx_dR Mdt<e\V fR wnenVkT tUenL:LNenVK_ wIKl]RUT [QR<_^Y OSMde\VKllQIKt|hY\l
l wjVKenVwjLw…Y\VKT hw WaR<[]e\VwjLw 1
R<VKtUeTKRUlzL Y{Vw&e\O]hKR<[_PR MdtUe lQR<L:Y\VOSMPt[QR<_^Y OSMde\VKl hkR<l]R
[QR<_dY{OSMPenVKlY{VKT
OShkR<Md[Dt<enLJKMdVZY OSMde\VKl`be\[]L6Y L:e\[]RR WK[]RUl]l]M nR _^Y{VKqnIZY\q\ROSe []R<Wk[]R<lQR<VOpWZY\[]Y\WKhK[]Y\l]MPVKq OShKY\V
MdV `b[SY{L:R fen:[ l hkR<[]RDenVK_ w*OShKRlQwjVKe\VwjLwN[QR<_^Y OSMde\V
Mdl L Y{[ \RUT 1&en[QR<5e nRU[ jt<enLNWaenl]M OSMde\VZY\_
[]Ik_dR<ltFY\V0JaR [QRFY\TkMd_Pw"`be\[]L*IK_dY{OSRUT M OShKMPV 1
l]MPVKt<R:_dR kMPtFY\_ `bIKVKt OSMPenVKl*Y{[]R Q5Y fY\[QR e\` hK5e Y _dR kMPtFY\_ZM OSRUL L Y{VKMdWKIk_^Y{O]R<lsM OSl Y\[]q\IKL:RUVOSl e\[ R kY\L:Wk_dR tUenVKl]MPTKR<[CO]hK
R )( !
[]RU_^Y{O]Mden-V hKMPl []R<_dY{OSMPenV
hKen_PTKl JR O fRUR<V en[QTKl M OSh
O e*Y\[QqnIKLNR<VOSl hKMPt|h:hZY \RDOShkRl]Y\LNR
LNRFY\VKMPVKq hKRUVO]hKR<MP[ Y\[]q\IKL:RUVOSl Y\[QR*WRU[]L*IOSR<-T lQIKt|h Y\l < XY{VKT % ; ;0 9 hKR
WZY\[]Y\WKhK[]Y\l]MPVKq [QIK_dRpJZY\lQR<T>e\V )(.! [QR<_^Y OSMde\V Zl]hK5e V"MPV MPqnIK[QR • .aY\_P_d5e lDe\VKRpO]e
MdTkR<VOSM ` wxY\IkO]enL:Y{OSMPtFY\_P_Pw
OShKY{OmOShKR WZY{Md[]lme{`sl]RUVOSR<Vkt<R<lDMdV MPqnIK[]R • NY\[QRzWZY\[SY{WKhK[SY{l]R<l Q
F
F
F
II
=
II
F MdqnIK[QR • .E fenV nRU[]l]MPenV
A
G
Conv(L)
L
I
E
B
B
I
[]IK_PR
A
-!.0< 7< 1 E<
>F.=< 6 GK
-!.0< 6 /A1H>E.0< ;< 1%K
/21<>E< 19K
<>E< !/21 1!#"$
K
-!.0/2141F<>41 <%>%&(')
*>E.0< < A<%6<:7>4<8=1F/ A5;: K
-!.0< < <6<:?>!<8=1F/ A5;:+,*'->F5>E.0/A11 <%>K
" ,"
"
"
,
F Mdq\IK[]R • ;G ugY\[SY{WKhK[SY{l]MdVkq:WZY{Md[]lmJKY\l]RUT&enV )(.!
[]R<_dY{OSMPenV
—
7Vk`ben[ OSIKVZY OSR<_ w81
E
KT ejR<lpVKe\O O]R<_d_vIKlpO]hKRNt<enLNWK_dR OSR
l OSen[ wY\Je\IkOpWZY\[SY{WKhK[SY{l]MdVkq
TKIKR&OSe$VIKLNR<[QenIKlxqY\Wkl MdV OShKR O]hKR<e\[Qw
1&Y\Vw_dRMdtFY{_ `bIkVKtUO]MdenVTkRUcZVKM OSMPenVKl Y{[]R {Y\qnIkR
Y\VKT0lQWRUt<M cZR<T0enVk_Pw MdVOSIKM OSM nR<_ w fenVKl]RUiIKR<VOS_ w OShKR \Y{_dIKRUl*e\`mOShkR _dRkMPtFY\_ `bIKVKt OSMPenVKl`be\[
R\R<[ w en[]T>hKY5\R*VKe\O8JRUR<V"tUenL:WkMd_dRUT&MPV>Y\Vw lQwjl OSR<L:Y{O]Mdt fYFw 3 V&` Y\tUO aO]hKR ; " "$ =
! "$ %".; $%& "= sO]hKRxt<en[QRxe\` OShKR O]hKR<e\[Qw MdllQOSMP_d_ VKe\ONY {Y\Md_dY\JK_PRN`ben[ Vkqn_dMPl]h ~8V ; " "$> = ! "$ %".; $ & "=e\` [QR<VKt|h:MdlCMPVKt<[QR<LNR<VO|Y\_P_PwpJaR<MdVkqpWkIKJK_dMPl]hKRUT
~D[]JZY OSt|hKR l w \IKL:Y\[]MPRR OY{&_ fJKIkO aY{OmO]hKRpWK[]RUl]R<VODOSMdLNR kenVK_Pw l]R nR<[]Y\_ hjIkVKTK[]RUTKl
en[]TKlDhZY nRJRUR<V tU5e nR<[QR<T 3 V Y\TKTKM OSMde\V ZY\V&R<LNWKMd[QMdtFY{_ŽlQO]IKTkw enIK_dT&JRpVKRUR<TKRUT OS#e nR<[QMP` w
hKR OShKRU[ – tUenL:WaenlQMPOSMPenVZY\_ WZY{[SY\WKhk[SY\lQMdVKq []Ik_dR<lŠY{[]R MdVKTkR<R<Tpl].I :tUMdRUVOŠO]etU5e nR<[ WZY\[]Y\WKhK[]Y\l]RUl
MdV Y\Vwx_dY\VKqnIKY\qnR
3 VNl]IkL:L:Y\[Qw RFY\t|hNe\` OShkR_PMdVKq\IKMdl OSMdt OShKRUen[]MPR<<l R l]IK[ nRUw\R<T MPV
OShKMPlsl]RUtUOSMPenVNtFY\WkO]IK[]RUl
t<RU[QOSY\MdVY{l]WaR<tUO]lxe\`zOShkR WZY\[]Y\WKhK[]Y\l]MPVKq mJKIOxTKejR<l VKe{O qnM nR"Y.tUenLNWK_dR OSR&Y\t<tUenIKVOXe\`zOShkR
WKhKRUVKenLNR<VZ.Y IK[QO]hKR<[QL:e\[]R CM O*MPl*VKe\O enJ jMde\IKl*hK5e O]e"MdVKTkIKt<RXY>tUenL:WkIkO|Y{O]MdenVKY\_ LNejTKR<_
`ben[MPTKR<VO]MPcZt<Y{OSMPenV>e\` WZY\[]Y\WKhK[]Y\l]RUl JZY\l]RUT lQen_dRU_Pw&enV>OShkR<l]R
O]hKR<en[QMdRUl '3 V"O]hKR
VKR jOpl]RUtUO]MdenV R
IKVKTKRU[]_dMPVK6R {RUw"MPl]l]IkR<lOSexJaR Y\TKTk[]R<lQl]RUT`ben[Y\IkOSe\L Y{O]MdtpMdTKRUVOSMPcKtFY{O]MdenV>e{` WKY\[SY\WkhK[SY\lQR<l l]WaR<tUMP` wjMdVkq hZY{O MdV`ben[]L:Y{OSMPenVtFY\V JaR O|Y {R<V `b[]enL OShKRxR MdlQO]MdVKq"_PMdVKq\IKMdl OSMdt OShkR<en[QMdR<l Y{VKT
R<LNWKhZY{l]0M /UMdVK6
q hKY{OMdl]lQIKR<l[]RUiIKMd[QR<TX`bIK[QO]hKR<[ MdV \R<lQO]MdqY OSMde\V F
CHGR
D
F
“
(‰ 2A!5*
)+*J*-69
‡ˆ
C ,+ 2+":#G2H63*(4A634+2+6383*8 I2+"$8 "$&:&
!"$#%&$&$'("$)+*-,."0/1'32+*54+6472+689":,+;(69*-&<=":,>,+;(83*,?3*-,+#*-8
3*-,.B32+*'
69*C)7*-#-
4D8!E+&:*(":,.3F89+E++,+"08
"$,+*K2+*L;63,?+&<!63"$M',+)N2+*
E+8O63#3":,P&:*
*@,+*-*)3
*-&!/Q4A634+2+6383*832A!+6R8O'8O*
G
63* "$+869*-83*-63#G2 ":, &:":,7;+":8O"$#-8,+) ,A=+63&5&:,+;+;*H4763 #-*-8983"$,+;
)+"$) ,7()+":69*-#J&$' )+)+69*-898C32+":8?
+*-8O"$, < *-, 8389+ "$,+; 32+* &$":)+"0M'N/I2+*H)+*-# 4D89"$"$, !83837 473":, 8 *H,+*-*) 89>*
'L3#- 4+"$&:*Q32+*89*Q!/ 4A634+2+6383"$,+;69+&:*8 8532+* 6 !/ E !2 6369":8@,+) 1 *-&$#- 1 *-&$#- 837;;*-8O 32+*K,?+ED*-6/@#- 4D83"0"$,A& 4A!64+27689":,+; 69+&:*8 H%' E *K&$":>"$3*-) #-&:":>832A! D 63+&$*-863*L89
>
#-":*,.( 27":&:* 6369":8R&:"$ "08C2+*>&:"$89 3 ,7&$' #-&:8389*-8 /
27*' 63*63"$;2. *
*-, 3 32+*F* *-,. 32A! >/ * #->4D83"0":,A& 4+6472+689":,+; 63+&$*-8C#- *6
27* 69"$M'K/ ##-+6963*,+#-*87
32+*-, ; ) 69*-89+&$385#-,HED*!#G2+":* *-)( "$2HF892+695 ,?A&:&0'
2A,7)+#-63!/1*) &$":89Q/#>4 89"$3":,A!& 4A634+2+6383*8
3>":#H4+6472+689*-8L69*HM' 4+":#-&:&0' #? +"$63*-) / 69 &<69;* 83#%!&:*H&$* ":#-&@63*-89+69#-*-8
837#G2 8
63) * 6472+689*-8K!63*H,7"$)+*-,."$#%&"$, >*%,+"$,+; 32 78
+89":,+; ,+&$'N8O' ,
,.' 8 ":,
63) C
*!8!3>":#4A634+2+6383*8 ' ,7ED*83
> #-"$*-,. ,+)!B *,7*-*-)"B '
H!4
63) C
* 69*-&:!"$,+8I 4+6472+689*-8# %' &:89HED*F27*#%!83*32A! 69) *J "$8
, ":,+89
>
#-"$*-,.69*-89+63#*/ 6(#? +"$83"$3":, /! "$# 4A634+2+6383*8 *-"02+*6CED*-#-+89*F27*-63*R"$8
,+ 63*-;+&<6C 4+4+"$,+;LE *J$B
**-,P! "$#4A6!4+2+6!83*-8 ,+) 69) *J 63*&<!3":,78 6CE *#%+89*
/2+*R"$,+83
>
#":*-,.C#- *-6!;*F!/ 63) *
% ,+*&B %'F3(A' ,+)L,78)5 *-63832+*83**? +*89"$,+8"$8 ,A&0'+ *I#634+78/ ,A!3+6!&:&$',
#-#-76363"$,+; 4+6472+689*-8- 83 47&:*-8 /* .(
2+":#G2 #,, *' 2+* 8>*>*%,+"$,+; E77 69*
4+69)+7#-*-)E.' )+"0/ *-69*-,.#(
69"$*638251 '!,A&$'3+ ":,+;>2+*4+6472+689":,+;H4A!33*-69,+8 +89*-)N":, 83+#G2
#-694++845
*H#%!, *89"$H=*5( 2A!F* 3*-,.F32+*>)+*-# 4D89"$"$,N8983+>47"$,P2+&:)78F!,+)
&$83 ":)7*-,."0/1' 27*>&:,+;+;*)+* ":#-*8F783*-)N #,+89363+#J4A6!4+2+6!83*-8F,+)N*89"$H=*32+*-"$6
/ 63*?
+*-,+#J'7I6 2+* ,7* H89*-#J":, 4+69*-89*-,.8 H,?A!&(,A&0'89":8K/N#-694++88I6 2+* 63*83+&08L/
27":8 ,A&0'89":8(":,/ 63>*-) 2+*)+*
*-&$4+>*-,. !/,!&:;69"$32+ / 6(4A!64+27689":,+;H#? +"$83"$3":,
4+69*-83*,.*-) ":,:B
9 2A473*-6 "$
8R#>4+7*
-
5*F4+69*-89*-,.+6(,A&0' 83":8I!/* 36#J*)
%
&'
'
* A638O)+*-89#-63"$E *(76#-694++8 ?32+*-,>+64+63 #-*)++63*I/ 64A6!4+2+6!83*(* 63#3":,L!,+) A,A&$&$'
M,
4A634+2+6383*8
+ 5*+89*-) $5HM' 4 *8 /#634D63
-B4A!6&$&:*-& 6!,+83&:!"$,+8(/32+*F83>*
/ 69*-":;, 89+63#* 3* K!,+) ,+*(
834A!4 *66O":#&:*8F!E F32+* 83>* **-,.K4763 )++#-*) E.'N)+"$/ / *-69*-,.(69"$3*-638 % +6>63,+83&:!"$, #-694++8 #,+89":8938H/ +&$3":4+&$*,+;&:"$832 6!,+83&:!"$,+8L/
&:"0*66O' * 8(
69"$9*-, E.' / 63*":;, 732+638 I6 2+"$8>#6347+8H4+69 "$)+*-8> ,.' ":,+8OG,+#*-8>/
4A634+2+6383"$,+; ED*-#-+83*L63,+89&<!3":,+84+63*83*-6 *>2+*L>*%,+"$,+; /@2+*L69":;"$,A& 83+69#-* E+
' 783*)7"0/ *-63*,. 5
63)78 #-,, *' 2+*F *-,+":,7; ,*7 >4+&:*R/4A6!&:&:*& 63,+89&<!3":,+8
":8832+(
, "$,":;+63* 3 I6 2+*-89*L83*-,.3*-,+#*-8#,.G"$,2+69*-*L4A"$638 !/B4A!64+27689*-8- !
.0! " (+12-435 .0%7698%7!)-: ;0% # .%7<=(->3!,+)
?*,@ "$# BA "$# C&%D6*7E4(9AF(!9!6 " <=(-
"$# &%')(+*,.-
/
*41%7 #F"$# A " 'GH%7I17JG " $ALK5 # .->3
+6"$, *-8O":;!"$,
E++6989F":,.
2+*6C89 "$&:*
*-638F,+)P2+*L63"$*-)N
#-69":*)
2+*R69":*-)
"$;+63*
1B!69'-
,+)
3>#,+89&:*2+*6
3 - 6&5N,+;&:":8926!,+83&:!"$,+8
6I27*834D*-#-" 'A#,A=+69*
#-L/ 6OR2+*-6
83 ' "$,+;
32+":,+;8R3
&
)763,+"$,+;L2+":8 569)+8 ("02
,M!*
4++,78
/ 2+*OA63*,+#G289*-,.*,+#-*@/ 63P&<7E *69Q 8CR
/32+*+&0"$4+&:*
36,+89&<!3":,78
#634+78
":,2S++*-,+#*-8
32+*
!)A>*
M' 4 *8
L T":,+#*KE !263,+89&<!3638 8OG6O(("$322+*K83>*
83*,.*-,7#-*K":, / 69*-":;, &<!,+;A;* B*UM ,7 32A! E 32 63,+89&<!3638(6O' 3 #-, *' *7#3&$'
27*F83 *R/ #JA& "$,7/ 63 !3":, OVC 5**-6 2+*R/ 69 /27*F69":;"$,A& 89*-,.*,+#-*H%' / *-#J
/@4A634+2+6383*K4+!33*-63,78 2A! 5*KE+89*-6 *
W
5 F</ 7: 1F5 3< 1 E< :=5B> =1F< / :5 @< 89< E/ 6<%:?> K
9 ,
HA6I*7 47&:* 7"$/ 2+*R69":;"$,A&D83*,?3*-,+#*+89*-8 #3"0*
":#-* "0@H%'LE+":8B63,+89&<!36UM!*-*4 "$ ( "02+7B#G2+,+;"$,+;"0@34A8983"0* ":#* 6I2+"$8
4+2+*,+>*-,+, #-,78963":,78583>* * *-,.()+" *63;*,+#-*8Q":,>6!,+83&:!"$,+8? E+Q893":&$& 32+":8@)A!
":85, !E++,+)A!,?Q83+69#-* !/ 4A634+2+6383*8
,7&$'
/ 89*-,.*,+#-*8(/ 69 $5 6!,+83&:!"$,+8/
R !)A>* 1B!6O' -H63*R63,+89&<!3*-) "$,.>":)+*,?3":#-& 83*,?3*-,+#*-8#I
6 2+"$8#%!, ED*F*7 47&<"$,+*-) E?'
27*/ #J(2A!(32+*F69*-,+)7"$"$, /L&:"0*66O'H* "$,?3H!,+27*-6C&<,+;A;*,+! ,+&$' "$,+#-&$+)+*8
27*Q6!,+83&:!"$, E77@&:89 63*89363+#J+69":,+;R/ 27*Q6!,+83&:!"$,(7' 2+*(474+634763"<=*B&$"$3*-6!69'
89M' &$* !I
6 2+":84+63 #-*838"$,.63 )++#*-8F)+"0/ *-69*-,+#*-8"$, 32+* 36,+89&<!3":,782( 27":#G2 69*H!, ":,.363":,783":#
4A6OK/(27* #-63*-!" * 4+69#*-898 B9 &:+83*8L83+#G2 8 *41%7 #F"$# A " GH%7I17 G " $A K5 # !,+)
*,@ "$# $A "$# L&% 6*7E4(DAF(!'!6 " <=( / 63 2+*83*-,.3*-,+#*-8":,"$;+63* 63**7 >4+&:*8 /
)+"$89"$,+# ":,.3*-634763*!"$,+8*I
6 2+*"$,?3*-63#3":, /27*$5 #-,.368O":,7; / 69#-*-8 32+*!9* 47
M*-*42+* *-,+":,7; ,+) / 63 /32+*69":;"$,A& 89*-,.*,+#-* ,+)#63*%="0 "0M' "$, 36,+89&<!3":,
&:"0*66O'5
6+MH)+*J*63>":,+*8(32+*M' 4 *8 / 4A634+2+6383*8*( 2+":#G2 ##-+6("$, 32+":8I#6347+8
,+32+*-6M' 4D*Q/A#6347+8 5 *I63*5+83"$,+; "$8,+*( 834A4D*-6693":#-&$*-8 ED732+*B83>*B* *-,.
4+69)+7#-*-) E.' )+"0/ *-69*-,. (
69"$*638 I6 2+*-89* 693":#-&$*-8R/ 63* 7*-,.&0' *63&<!4 ":, 32+* "$,7/ 63 !3":,
27*'>#-,.":, :
2+":&$*Q2+*63*"$8,+;+6,.3*-* 32A!5,.'>4A"$6@!/ 83*,.*-,7#-*-8I#,, *J' 32+* 83>*
83*H!,?3":#"$,7/ 69H!3":, D
/ 69*? +*-,.3&$'4A!":638/B89*-,.*,+#-*8F#,.G"$,+":,7; 63*-4D*%=*-)N"$,7/ 63 !3":,
#%!,E * "$*5
*-)P8 4A!64+27689*-8/*-#G2N2+*6 ,*7 >4+&:*F/@83+#G2P 4A"$6 "$8 8327 ( ,N"$,
"$;+63* ,7&:"=M!*2+*K36,+89&<!3":, #-694++8 ":,32+":8#-83* ( 63"0*6388969 ( "0227*>83>*
/ #J8B
,+) 2+*J' ":,+)+*4 *,+)+*,?3&$' 89*-&:*# &:"$,+;+"$89"$# / 69 8K3 *-63E+&:"0-+ * 2+"$8L":,7/ 69H=":, !*-,.3"<&$&$' 2+"$8 4+69#*-838R %'4+69)+7#-*L ( ":)+*6#! 63"$*M' /@4A6!4+2+6!83*-8R89":,+#* ( 63"$3*-698
69*,7(#-,78963":,7*-) E?' 83>*R&:":,7;+":8O"$#63*-&:"0%
+ !3":, /32+":8I"$,7/ 69H!3":, 27*R/ 63!/ 32+*6!,+83&:!*)
89*-,.*,+#-*
, : F< A/D> 5 F: A/A1 >E1 5;I >F<:I B6/ A/ E/ < >E.0<%6 1F< ;! < 1 C@/D>E.@< >F< E1 ;:
C E/D>E/ :
5 ;. <> K .. K
%
0
"&
#&
,
,
:=<%C41 * I <<,01 8F/A5 >E5H>F.0</
6&5 >*-, ##-+89*-) /:M "$)+,A474+":,+;L '*-6 &:) 27":&<!)+*-&$4+2+"<;":69& 5*-69*F!6363*893*-)
,5I
6 2?+6389)A%'D4 &:":#* 8!":) &:":#*6963*-8O*) $5> *,.6I2 76383)+ '.(27 !63*R##-+89*-) / 2+"$8 B**M Q 8 ED)++#J":,
/ '*%6 M &$) 2+"$&<)7*-&:472+"<;":63& "$;+63* - 6&B
83*,.*-,7#-*-8#-, *' ":,7; 32+*8! *K"$,7/ 63 !3":, * 63#3*-)/ 63 32+* (
(*-73*-638C6O"$#-&:*8
,+)
+ @ 4) + B+
2
5*)+*83#-69":ED*
'
+6 A,+)+"$,+;8BE+83*)
*,
B*#%,4763 #-*-898 "$
4+2+6383*)
#-634++8
89*-,.*,+#-*8
,+>*-,7,
,+)
*
4+"$63"$#%&$&$'
"$,
,
2+* 69*-89+&$38Q/ ,?A& )7*-#-
'
2++;2PH,?A!&,A&0'89":889":;,+" A#%!,?3&$'
*-,AE7&:*-8 +8 3
##-+63!*&$'
!&$":)A=*5'A,+)+"$,+;8
63*83+&08R/@2+"$8,A&0'89":8 9+8O"0/1'
83#63"$E *)
+ + + C#G2A4*-6
27*
!7
,
&:":>"$38 32+*
+
89" *>!/B27*
":, *-893":;.=*F32+*4+6472+689":,+;
/R&$":,+;+":8O":#
4D83"0"$,H/ 4+6
M,
27*-69":*-8
4+2+*
)+)+"0"$, Q27*
63#3":,P)+*
!3":#>*32+)78R/ 64A6!4+2+6!83*L*
32+*R,+*
63#3":, B* 73H=":#-&:&0' !&:":;,+*-) 83*,.*-,7#-*-8H/ 27*
#-634++8@+89":,+;R*#G2+,+" ?+*8B)+*83#63":ED*-) ":,L2+*C,+*
5#G2A4*-6 *C83*&:*#*) C83*,.*-,7#-*-85/ 63
27*#6347+8(/4+6&$&:*& 63,+89&<!3":,+8B,+) 83*,?3*-,+#*-8C/ 63 2+*R#-634++8(/ ,+*(86O"$#-&:*8
6I2+*N,+&0' #63"$3*-69":, 32A! ;+"$)+*-) 76 83*-&$*-#J":, B 8 27*P89*- ,."$#83":>":&:63"0M' E *J$B **-,
83*,.*-,7#-*>4A":698
5*LH!, +&:&0' #G2+*-#M!*-) 32A!89*-,.*,+#-*>4A"$638#5 *-69*K":,+)+**-)N4A634+2+6383*8
/ *%#G2 27*-6Q>*-&$":>":,A=*(2+*R#G2A,7#-*/*6369,+*-+8!&:":;,+ *,.
6I27*-, ;" *, 4A"$6F!/I83*,?3*-,+#*-8 ( 2+"$#G2 63* 4A634+2+6383*8/I*-#G2 27*-6B * * 63#3*-)&:&.=>":#4A!64+27689*-8!,+)F#>4 89"$3":,A!&637&:*-84(
2+"$#G2 #-#-76"$,32+*-89*B89*-,.*,+#-*8
A6@*7
>4+&:* 35 * * 36#J*-) / 69 83*,?3*-,+#*R4A":6@":, ":;+63*# ' *4A634+2+6383*8+ ! ,7;
27*- 2+*=>":#C4A634+2+6383* ?E " 1 # *!K4K "$# - *41, 0! " % # -435,+) 32+*#>4 89"$3":,A!&A63+&$*
- % # (
2+ 69* 1 -9 % # 1 ->3C)7*-63" *)/ 63 6 ( # G/AF%
69":6KP4A634+2+6383"$,+;P*
*,(U*00!>.(+1 %)8+- !,+)
6!4+2+6!83*
6I2+*C;6!, 7&<69"$M'F/
!6 ( # *00!>.(+1 %)8+-
6!#"$,
*
/ 63
4+6&$&:*&Q83*,?3*-,+#*-8
)
"$8>,7
P8O6!":;2.3/ 6 B63)
G8IM
"!6O';69*%!3&$' .83":,7#-*C83>*3":>*-84A!64+2768 ":,7; 69*-&<=":,+8L8969*3#G2 E *J',+) 2+*!B69) &:**&C3 &<!63;*6L3* +& 7,+"$38 I
6 2+"$8H2A474 *,+8
(2+*, 7&$" 563) 472+689*-8K/ 69 !3 "$#H4A!64+27689*-8@ / 6K*7 >4+&$* ! "$# &%&(+*,,+) ;0! " (+12- 1B7R>63*/ 69*?+*-,.3&$' 7&$" 5
63) 4A6!4+2+6!83*-8F69*K#-63*-!*) E.'#>4 89" "$,A&63+&$*-86I2+* #3"0*M4A!8383" *(637&:*I8327 (
, ":,"$;+63** GH%J6 ( # GH(!( *,?(!&(+1
+-,7) %7< " 0( *,?(!)(+1J GH%N6 ( # +- ,+"$4++&:!*8 / 7&:& 83*-,.3*-,+#*-8 4D*-63!"$,+; *6
83**6& #>4 ,7*-,.8 M )+*-,." A
' #%=":,H/ 32+* !/ 63*->*-,.3":,+*)H69+&:* 63*? +"$63*8B2+* M?,+( &:*-)7;*
R)+*#->4 83"$3":,K7,+"$#-,
* &@4(+*,
+%7< 1
2+!
GH% 6 ( # *00!>.(+1
%)8E " 1 # *!K4K "$#
A " < *41(!< KFA " * ," ?<$- ,+)
GH% 6 ( #
"$# -
G/AF% *,(L*00!4.(+1 %)8'BA " DGH((E U*41,F0! " % # %)8U*
&@>(+*,
+%7< 1 A " < *41(!< KFA " * ," ?<$- 69*F4+6
6I2+*-89*>4+6472+689*-8"$,
4+2+6383*8
763,
*E+6!#-*L,N!3>":#4A6!4+2+6!83*
E " 1 # *!K4K
->3Q)+*-69"0*-) / 63 6 ( # G/AF% *,(D*00!4.(+12- !,+) !6 ( # *00!>.(+12-
68O'8O*H!3":#-&:&0'* 63#4A634+2+6383*8 5* 36*6383*H":,PE 9 M 74P/ 892+":, 27*
89' ,.G!#"$#B69*-*8/ 4A63&:&$*-&?83*,?3*-,+#*-8 "$)+*-,.3"$/1' ":,+; 4A634+2+6383"$,+; #-,+89363+#J":,+8/ "$,+#-69*%8 ":,7;&:*-,7;2L,7)> 6IM "$,+;32+*- !8":)+*,?3":#-& R" *,2+*(83*,.*-,7#-*-8@":, ":;+69* 5 *&A' 638O
":)7*-,."0/1' 32A! E " 1 # *!K4K "$# -,7) *41, 0! " % # -L63* 4+6472+689*-8I/*-#G2 2+*67
,+) H!6+M
27*- 8C":)+*,?3":#-& E.' 83+E+8O"073":,+;>2+*2B
63) E " 1 # *!K4K "$# - ( "$32 27* 5 63) *41, 0! " % # ":,32+* 'A638OF363*-* I
6 27*-, 4B * &$":;,3;*32+*-632+*L83+E7363** #6369*-834D,+)7":,+; $A " GH((E *41,F0! " % # - (
"$32H27* ,+ )+* *41,F0! " % # - 69 2+"$8Q&$":;,7 *,?,B * "$,+)++#*27*/ &:&$( ":,+;
#- 4D83"0"$,A&69+&:* -!2+"$8 5
*-*M Q 8 - - I6 2+* 89*-#,+) 63+&$* 32A! 5 *
- -( 2+":#G2 / & ":,7)++#-* ":, 32+":8L4+69#*-838 ":8L- ,
&:(
8/ 63 *,?(!J% # A14*,@- ,+) *,?(! A14*,@>-C * 45 *H* 36#JF32+*L63+&$*
*41,F0! " % # ->3 ,+)32+*Q# 4D89"$"$,A&63+&$* -
(2+69* -
-
63#3*-)
(2+
- 0 ":,L2+"$8@4763 #-*-898B"$832+* #3" * M4A!8383" *C6!,+89/ 69H=":,
5*P* 6!#*)
4A634+2+6383*8
69*
/ 63
2+*83*83*,.*-,7#-*-8
,+*N!3>":#
6I2+*N&<!89 69+&:** /A&$&:( ":,7; 2+"$8@4763 #-*-)7+63* -
4+6472+689*N,+)
/ 76
#->4D83"0":,A&
! 6I2+*C#-*,?36& ?+*89"$,H"$,L+6":,,*893":;.!3":,L"$832+*IM' 4 &$;'K!/ 27*C* 6!#*) 4A634+2+6383*8
,+) 32+*-"$65;6,?+&:63"0M'I
6 2+*&:*-,7;2 !/ 4A6!4+2+6!83*-8B)+":69*-#3&$'>63*!SA*-#J8Q3 (2+":#G2 )7*-;69*-* 27*
)+*#->4 83"$3":,F2.'4D32+*-89":82+&$)+8 832+69*6* 36#J*-)L4A!64+27689*-84+69 "$)+*Q>63*583+4+4D6O
2+"$8 2.' 4 !2+*83":8 83"$,+#-*2+*J' #6369*-894 ,7)H)7*-#- 4D83"0"$, /83*-,.3*-,+#*-8R":,. 83 &:&$*-6
!#G2+"$,+;K+,+"08 *R4+63*83*,? +6(!,A&$' 89":8Q/ 6Q$5
M' 4D*-8C/#634D63LED*-&$2 "#$%#&'&)(*& +,$-#.0/1&)#2%3)45.0/ A69 4A"$6385/ 83*,?3*-,+#*-8(/ 4A!6&$&:*-&A36,+89&<!3":,78,B*2+*
* 36#J*-)!768
6 4+6472+689*4A!":638 79F!3>":#(4A634+2+6383*8Q,+):989F# 4D89"$"$,A&763+&$*-8
8832+(,L":,":;763* 27*QH 963"0M'F!/ * 63#3*-)>! "$#54A!64+27689*-8 '6 3
69*B,+* 3 M,7*54A!64+27689*-8C ,7G!3*-)K!8; 8< >7
= "$,F27*5G!E+&:*3!/ 76927*-63>69* 4A!64+27689*-8"$,
(2+"$#G2 ,7*C!/ 32+*(4A":6 *E *638":8(563) 69*-4+69*-89*-,.*) E.'L#-E7":,A!3":,/ ; 8< ?= '6 3
,+)@; 8< %'
= A6 3#-!*;63"$*-8K"$, 32+* GE7&:*.3!#-#-+,.>/ 6B9 /!3 "$# 4A"$638 6I2+*
63*H!":,+"$,+;L+&$3" B69)
4A6!4+2+6!83*-8 #-#+,./ 6(,7&$'
D2+ B* *6 2+*J' !4+4 *-6C":, 3B89*-,.*,+#-*8 ":, +6(#-694++8
6I27*-83*F89!"$89"$#-8I>" !!*) +8IKG M*FL#&:89*-6I&$M !(7&$" 563) 4+6472+689*-8
83"$;,+"0+' #%,.@6!3":R/D2+*C4A634+2+6383*85"$,C;8< ?=D,+); *< %= #%!3*-;69":*85#-, ED* !3363":E77*)L3
#-&:&: #%=":,+8 *63E 4A693":#&:*#-,+8O69+#3":,+883+#G2N8 ?! * # 1.K - 69*F32+*)+ "$,A,. M' 4D*
DED 0F%GHI>GEJ-F-KMLONAIQP%RTSMUWVEXYZ1VEGLQHVEY\[J-LQG]LQJ%X%GLQKEY^K_UAK`LbabLQUWNcLOd-NWYeLfV
gih1h>jlkEm1mOn?n1nlop1qopQr1sftQu%vxwby5o)z>{>t-m-|^}%z>~7w\%yim^u€yQ>t-y1s-
R63,?+&<69"$M'
; 8< ?=
; 8< -=
; *< -=
"$;+63*
% 32+*-698
-
A63* ?+*-,+#J'
E6 3
2 W6 i6 3
3
3
7 47&:*
!6L &(- O14*,6->3
!)(+*0AF(!7- 6*7!&(!7->3
!(+*,< " (- # 1%7 )->3
.( # %7!6 %74.- "$# %7I1 "$# *,)(!< @ < *, (->3
!< * # 0(!
U0+*!K - " <$< @40%.0EA2*,)->3
A2*41 )% - O!GO*7%,< " (+12->3
!GH
( <$< 6 % ,(NA " 6 .K - O?AF(JG " <$< % "$# &% ->3
!"#$&%('*),+*"-./10+*+*0+
&
324+/3
5$6"-7
8/30&$
0+*+99!
9:+9+*"
- C / B,7* 3 $5 ^; 8< -= =$3 4A634+2+6383*8.!,+) '*Q7 /
i6B; *< -=+4A!64+27689*-8#-,?":,K89+#G2 *63E+8OR +&$3" B69)4A634+2+6383*8#-,.G!":,+"$,+;"$)+": !3":#
*4+69*-8983":,+8F)7 ,+R#-,?36)7":#32+*K)+*#->4 83"$3":, 2?' 4D27*-83"$8 83"$,+#-*L #&:&$#-!"$, #-,
ED* ":*B*)8 >83"$,+;&:*R&$*
":#-& +,+"$ E *#%+89*"$38 >*%!,+":,+; 9#-,+,+ ED*":,/ *-6369*-) / 63 27*
>*%,+"$,+;/ "$3854A!69- B
9 63783* 9863 ,+27*-6B#&<898B/ +&$3" B 69) 4+6472+689*-8Q#,+89":8938
/(2A!#5
*#%&$& O)+*A' ,7"$"$, 4A6!4+2+6!83*-8I-A * ;' 6L 6<=(-O *,? " 0! < *,&( "$# * ! *,6L6 (!
6 27*-83*>4A"$638#,+83"$89R/B B 63)
"$# ,% " 0(->3,7) * # .- ? *,( % # A " 8%7(AF(+*412->3 I
,+)L +&$3" 5
69)4+2+6383*&( 2+"$#G2L)+*A' ,7*-82+* B 69) 83"$ "$&<6 3R#B 69)L;&:898":, 69) *J?3
!64+27689*-8 ( 27":#G2 #,+89":89 /472+689*-8 &:,+;*-6I2A!, $5 5 63)+8 #-,.":, ,+*-"02+*6 #&:&$#- "$,+8(,+6 9)+*A
' ,+"0":, 4A!64+27689*-8+-
, E "$+8C#G2A6!#*63"$89"$#F!/27*-83*4A6!4+2+6!83* "$8
2+!F32+*'N*
2+":E+"0)7"0 *63;*,+#-* ":,P *-,+"$,+; 63*4+63*83*,?!" * *7 47&:*K/ 63 32+":8R#-!*
;6O'"$82+*I4+":6J AF( 1%.%7HA2*,< 8HA " 1JA " 6 8?%76 $AF( " (!G -,+) '( 0%7< 1JA2*,I12< @U!(H.(( # -
T 363":#J&0'L834D*%,M?":,7;
32+*-89*83*-,.3*-,+#*-8()+K,+B#-,, *' 32+*83 *":,7/ 69H=":, . ,+) ;*-,+*6&$&$'
#%!, ,+!RE *K89+E+893"$37GE7&:* VCB
* *-6 "$,P #,.* 2( 2+*63* B *L#-63*L,+&0'ED72+*K/ #J
?AF( " "$# " " <=(- ;"0 *-, 32A!,7*#%,"$,7/ *-6 "$C/ 63 *"$27*-6 89*-,.*,+#-* 32+*$5
83*,?3*-,+#*-8
4+69 "$)+*F32+*83 *F":,7/ 63 !"$, % E, ":+89&$' "$, 27":8#-83*F2+*F)+*-# 4D89"$"$, 2?' 4D27*-83"$8
/A#&:&$#-!"$,+8 "$,+6)A!
<;
=
>
)+ *-8(,+(27&:)
+
"$,+82+*J' 69*-4+69*-83*,.@,+) )7"0 ":)+*) 27*- ":,. / +6;69+4+8 P)+*&:*3":,784D*-697G=":,+8
,+7,4+2+6!83*K63,+89/ 63 !"$,+8 ,+)&:*":#%!&4A634+2+6383*8 8892+(,P"$,":;+63* 27*
>89I#> , 36,789/ 69H!3":, ,+;K#->4D83"0":,A& 63+&$*-8(":8B)+*-&$*"$, 3(2+":#G2 ":,+#&:+)7*-8
":,+&0' *&:"$ "$,A!"$,/ *63E !63;+>*-,.38 4+634 89"$3":,+8R!,+) !)
*63E+":&:83 *-&$":>":,A!3":, /
,+7, !63;+>*-,.38 ) 9*#3"0*8@)+*3*-69 "$,+*-6983,+) )7*-&:*J"$, #%783*-) E.' *-&$&:"$4+83"$8F#,+89363+#
"$,+86I2+*R4 *63G!3":, #-!*;6O'H*,+#->4A8983*8 !&:& 2+*#-83*8&(
2+*-69*R32+* ,7&$' #G2A,+;* 3
8O' ,?#3":#363** B8 >#G2A,+;*/69)+*-6 >,+;H#G27":&:)763*-, /89 *,+ )+*"$, 32+*F363*-* &:&
837#G2K4 *637!"$,+84B*63*Q#-+89*-)KE.'#G2+,+;*5":,&$#-!"$,+8 /DC4+63*4 89"$3":,A!&.4+2+6!83* (
"02+"$,
32+*-6 *-69E 63;+ *,.8 C +, 472+689*63,+8O/ 63 !"$,+8":,7#-&:7)+* #G2+,+;*8Q":, 63*%!&:" -+ !"$,L/
)+*4 *,+)+*-,7#-":*85!/ 27*%)L,+7,+8.
89+#G2H!863*( 69"$3":,+;/ ) 9*-#3"0 *(63;7 *,?3884+69*-4D83"0"$,A&
4+2+6383*8=3G!#G2+*-) K27*83>*27*%) ,++, * ,A&0' *-)
0
63#3*-)
#->4D83"0":,A&*
4
/ %
% %'&( %)
+'
'( %+,
,@?AB,@+ )
2+-
4+6472+689*-8P":,
*63>8N/H36,+8O/ 63
09!
! #"
"
-/.102- 3 4-5.607- 982:4; <-5.602- =-5.607- >"
* " $ +
32/ +9
-/.102- + + 2
8 :C; 9! @D -5.602- 9!4@D
82:4; #"
FEHG(IKJML - 6ONQPRLTSUEVXWMJMEHYKIUW!EHZ([\Z]9€9_^`ZabPRZ(VMEcW!EHZ([edfgPedJ!dhPKiKJ!dhVML`VjL%W!JMd^kWML`Sl]mJXZ(anW!iUL
^`ZJMPKIKVZ]FPedJMdffHL`foW!J!dh[KVMfdhW!EHZ([KV
$
9!
!"
-
+*!"
6iUL`VML7WMiKJMLkL2^`dhW!LkG(Z(JMEHL`VZ]e^kZ(abPRZ(VXEHW!EHZ([edfPedJ!dhPKiKJ!dhVML`V pSUL`fL)W!EHZ([KVhPqLkJMarIQW'dhWMEZ([KV
d[KSs[KZ(IU[sPUiKJ!dVXLtWMJ!d[UVX]mZ(JXaTdhWMEZ([UV
PKiKJMdVMLkVJyx1JMdV
,
<6
V dJXJMEV
dJXLtIUVMIedfHfHNu^`Z([UVMESUL`JMLkSvWMZwYRL\VXN%[AW'd^)W!EH^tPKdJ!d
9 z YF3%VME[U^`LW!iKL)NTaCZQSUEH]BN{WMiKL6V|W!JXIK^kWMIKJML1Zh]}W!iKLPedJXVMLW!JMLkL
9E[CZ([KLSKEJXL`^)W!EZ[ 3 % [ULabdzN€VXWMEffKdJMG(IUL
W!iKdhW2WMiKL`VXLPedJ!dhPKiKJ!dhVML`V7dJML1[UZW7PKIUJML`fcNTV|N%[9W!d^kWME^ U VMEH[K^`LW!iKL)N/dJXL1^`Z[KSKEHWMEZ([UL`STZ[5fLQEH^zdf
EHWMiKZ(IUW~dSUSKE[KG[KLZ(PRL`[C^`f<dhVMV 2Z(JXSKV
ydhWfL`dVXW
6
W#N%PqLkVZ] W!iKLkEJ~VMfZhW!V V Z2L(L`JKW!iKLfdVXW2^zdhWML`G(ZJXNbZ]^`Z(aCPqZVMEHWMEZ([KdfePedJMdPKiKJMdVMLkV^zd[5[KZhW
YRLj^kf<dVXVME0'KL`S dVVXN%[AW'dh^kW!EH^{L(L`[ IUVME[UGbW!iULjfHZQZ(VXL`JSKL'e[KEHWMEZ([_Z]FWMiKEVW!LkJMa! O
d^'i Z]=WMiKL`VXL
JMIUfL`V^kZ([AW'dEH[KVdrVXN%[AW'dh^kW!EH^W!JMLkL(EHWMi5VMLL`JMdf Z(PqLk[ ^`f<dhVMV&~Z(JMSKV*iKEH^'i aTdP5EH[AW!Z4d[KZhW!iKLkJ
VXN%[AW'dh^kW!EH^W!JMLkL(EHWMi5SKE0/qL`JXL`[AWZ(PqLk[ ^`f<dhVMV ~
Z(JMSUV 6 iKL`VXLWMJ!d[UVX]mZ(JXaTdhWMEZ([UVdJML6iKLzd%EfcN/SKL
PRL`[KSKLk[AW€Z([lfHLQE^`df EHWML`aCV EcW!iKEH[tWMiKL`a!!92Z([KVXESKLkJrd JML`PUJML`VXL`[AW'dW!E0LTW!JMd[KV|]mZ(JMabdhW!EHZ([\Z]
%79<=% #
< 2dV[KZWOfHZ([KGE[ # EH[KG-dVOEH[ '( .%.% # <=(B8? - '(
<=(+* "$# ->36iKEHVW!JMd[KV|]mZ(JMabdhW!EHZ([ ^zd[ YRL %
EHL~L`S\dV6dTG(L`[UL`J!dhfE +`dhW!EHZ([ Z]
W!iUEV G(JXZ(IKP
-(VMZ%Z([
GO*7 #
"$#
>
>
4
dhWMZ(abEH^rPedJMdPKiKJMdVMLkV iKE^'it^zdIUVMLC^'ied[KG(LkVjEH[ W!JMLkL4VXW!JXIK^kWMIKJML iKLk[ VXIKYKVXWMEHWMIUW!LkSlZ([KLr]mZJ
d[KZhW!iKLkJ
ZW VXIKJMPKJXEVXE[KG(fcNhfLQEH^zdfQ^`Z(aCPqZVMEHWMEZ([KdfAJMIKfHL`V dhJML7VXEaCEf<dhJ WMZdhWMZ(abEH^2JXIKfLkV=E[rZhW!iKLkJ
JMLkVMPRL`^)W!VO
T%iKZ(JXWOfHLQE^`df%^`Z(aCPqZVMEHWMEZ([Kdf9JMIKfHL`VC ^kZ([AW'dEH[KE[UG1[KZaCZ(JML2WMied[rW$~ZfLQEH^zdfQEHW!LkabV
E[CLzdh^'iTW!JXL`L.3OdJXLIKVXIedfHfHN€aCLzd[UE[KGPKJXL`VMLkJ)% E[UGQ ]mZ(JOLK dhabPKfHL XfE ML d[KS -(E[4V|W#NQfHL
Z] -ydhV E[ < " E4(
>!&(! -dh[KS "$# 4!)(!H! @ <=(->3
Z([KG(LkJ fLQ EH^zdf%^`Z(aCPRZ(VMEcW!EZ[edf
JMIUfL`VPKJXZQSKIU^`L VML`[AWML`[K^kL`V1W!iKdhWSKZT[KZhW^kZ([,( L)N LK dh^kW!fcN5W!iKL V!dhabLE[Q]mZ(JMabdhW!EHZ([5YKIUWJ!dW!iKLkJ
E[AWML`JMVXL`^)WE[bVMZ(aCL6fHEaCEHW!LkSCdVMPRL`^)WZ]}WMiKL`EHJ~aCLzd[UE[KG
PedEHJNXG(E ( L L`SKIK^`dhW!EHZ([ -<
XVXL`[KS WMZjdPKIUYKfEH^7VM^'iKZ%Z(f ->3FEV=W#N%PKEH^zdfKZh]qWMiKEV ^`dhW!LkG(Z(JXN R_Z(V|WJMLzdhSKL`JXV EHffKdhG(JMLkL
W!iKdhW2WMiKL6VXL`^`Z[KS ^`f<dhIKVMLEaCPKfEHL`V W!iKL e' JMV|WK YUIUW7^kfLzdhJMfHN€WMiKL1EH[U]mL`JXL`[K^kL6SKZ%L`V7[UZW7iKZfSTEH[TW!iUL
ZWMiKL`JSKEHJML`^)W!EHZ([ PedEJXVOZ]}[KLV~VXL`[AW!Lk[K^`LkV 1PedJ!dhPKiKJ!dhVML`V 2LkJMLL%W!JMd^kWML`S 9 dhWMZ(abEH^1PedJMdPKiKJMdVMLkVd[KS ^`Z(aCPqZVMEHWMEZ([KdfqJXIKfLkV ( / 45$0/
eJMZ(a
6iUL1VML)WZ]dhWMZ(abEH^PedJ!dhPKiKJ!dhVML`V2L%W!JMd^kWML`S/]mJMZa
WMiKL LV92Z(JXPKIKV7LQiKEYKEcW!V~aTd[AN
D PIQF-G J%G]Y a1UWI>F-K SIQG!#"%$lLOG!& UANAL('*),+ H,-eY IfSMP.)bLOP-[/5NWX7LQ[%L>[)*02131*1*45)^S_Y_K)V]F-[iUAY^[ J-LQG]LQJ%X%GLQKEY^K8Y Z?V]G]L>H V]Y^[
6 G]I37 98*8`KEY P?VEY^P-HY\K*[iY^GEUAaQY\[ 6 GEI*7CVEX%Y;:*IQJ%UcH=<0YV]Y^H V]UWI>P,LQP-[>:*G]L>H?1UWP%R0HIQG]J%F-K  :lX%YlLOGEVEUcHNAY^K*UAP IQF-G*K]L97J%NAY
SY G]Y J-GEIi[iF-H Y^[ d@'V]X%Y K]L97Y K'I>F%G]H YA" MY^FiVEY^G]K?45)7SMX%UAHXB7L('NAUC7UWVVEX-YafLOG]UWY V'I 6 IQd-KEY G]aQY\[J7LOGLOJ%X%GLQKEY^K 
D I>GlVEX%UcKMG]Y^L>K'I>P.)1S_Y [iUc[iP.E V`UAP-HNAF-[iYeV]X%UAKM[-LfV]LUAP VEX%YeV]X%Y^KEUAK 
J!dh[%IUf<dJXEHW#N e JML9IKL`[K^)N
;8< ?=
6 9
;8<-=
3
WMiKL`JXV
B
^`ZJMPKIKV
;*<-=
FEHG(IKJML UdaCPKfLkV
;0% # ( *, " % # - .0A 0A2->3
)K5 " 6*,!@>- *, <=(->3
)KF%7< " 0(
- ?.(0! " @% 0 " *,<$-43
!(B8%7( # %7G - )K5(( " %74.->3
!(0% # 8?4 "$# - .0+*,>.( K5%,<=(!6U.-43
G " <$< # %7H!(0%76 ( # %7 " 0(+*4< @ " <$<$-
?! N(! # %7$A "$# 6 %7( BA2* # AF(+*414*0AF(->3
3
3
i6 3
L`[UGW!i\SKEHVXW!JXEYKIQW!EZ[ Z]T9
dhW!ZabEH^{PedJMdPKiKJMdVMLkVL%W!JMd^kWML`S\]mJMZ(a W!iKL4[KLV
VMEHabEHf<dJXEHWMEL`VgW!Z4dhWMZ(abEH^PKdJ!dPUiKJ!dVXL`VLQWMJ!d^)W!LkS ]mJXZ(a PedJMdffHL`feW!JMd[KVMfdhW!EHZ([KV
W!iUL6fLk[KGWMi/SKEV|W!JXEYKIUWMEZ([CZ] WMiKL1dhWMZ(aCE^PedJMdPKiKJMdVMLkVVMiKZ[5E[ F
EGIKJML
[5PedJ|W!E^kIKf<dhJ
{JMLkVMLkarYKfLkV2W!iUL
SKEHVXW!JXEYKIQW!EZ[uZ]dhW!Z(aCE^ PedhJ!dPKiUJ!dVXL`V/EH[uW!iUL ^`Z(JXPKIKVbZ]PedJMdffHL`f7W!JMd[KVXf<dhWMEZ([KV TQL`L g
EG
XZ(JMEcW#N\Z]dhW!ZabEH^CPKdJ!dPUiKJ!dVXL`V4dJXL~Z(JMS>fL(L`f~PedJMdPKiKJMdVMLkV [KZW!dhW!LkS
dV ; €<?=~E[\W!iULbW'dhYKfL3 9 !=dh[KSlPedhJ!dPKiUJ!dVXL`V{EH["iKEH^'i Z([KLCZ]7WMiKLTPKdEJaCL`arYRL`JXV
EVbd#~Z(JXS JXL`PKJXL`VMLk[AW!L`SYANw^`Z(a{YKE[edW!EZ[wZh] ; €<?=U 9 3Cd[US ;8<$%= 3€^zdhWML`G(Z(JXELkV
IKJXL
;3€WMiKL/abd
E[ WMiKL W'dYUfL.36^kZ(abPUJMEVXL`V 6
9
Z]jL%W!JMd^kWML`SsPedJ!dhPKiKJ!dhVML`V
6iKEV
^`ZJMPKIKV ^kZ([AW'dEH[KV d
f<dhJMG(LkJ6]mJ!d^)W!EHZ([ Z]~fZ([KG5PKdJ!dPUiKJ!dVXL`V m WMiKL€JMLkaTdhE[KEH[KGTW%~Z_JXZ&VZ]W!iULrW'dYKfHL.3
6iKLkVML6fHZ([KGPedJMdPKiKJMdVMLkV2dhPKPqL`dJE[
'€6 3=VMLk[9WML`[K^kL`V VEH[CWMiKLW!J!dh[KVMfdhW!EHZ([€^`Z(JXPKIKV
PedJMdPKiKJMdVMLkVOE[ ;8< ?=od[KS ;8<-=e^`dhW!LkG(Z(JMEHL`V dhJMLaCZ(VXWMfHN ^`Z(fHfZ%^zdhWMEZ([UVFd[US | SKL(e[UEHW!EHZ([ 1
- PKdJ!d)
PKiKJMdVMLkV?< fHZ([KG [KZ([>SKL`^kZ(abPRZ(VMdYKfL€PKdEJXV SUZ [KZWj^`Z[*LkNtLUd^)W!fcN W!iKLbV!daCL4E[U]mZ(JXaTdW!EZ[+
d[KS€WMiKL`EHJ=VMEHabEHf<dJXEHW#NEH[€abL`d[KE[UGiKZ(fSUV=Z([KfcN{EH[,(L`J|N€PedJ|W!EH^`IKfdJF^kZ([AW!L%WZ(J JXL9IKEJXL`V~Z(JMfHS
M9[KZfLkSKG(L iUEfLW!iUL{W%2ZT^`Z(JXPqZ(JMd/dJXL{L`VXVMLk[9WME<dfHfHN
VXEaCEf<dhJE[_WML`JXabVZ]dhW!ZabEH^ PKdJ!dPUiKJ!dVXL`V
W!iUL`JMLjdJXLjVXZ(abLSKE.- LkJMLk[K^`LkVEH[ WMiKL W#N%PRL`VZ]=^kZ(abPRZ(VXEHW!EHZ([edfRPedJMdPKiKJMdVMEH[KGCJMIKfHL`VD VXL`LgEG
IKJXL/
3 6iKEHV/^`ZJMPKIKV5^kZ([AW'dEH[KV5d
[KL ^`dhW!LkG(Z(J|N Z]WMJ!d[KV|]mZ(JMabdhWMEZ([wJMIKfHL`V
dh^kW!E.(L
9
6ONQPRL
x1L`fHLkWMEZ([KV
eJML9IKL`[K^)N
i 9 ' 3
gLkJMarIQW'dhWMEZ([KV
9F
ZIK[ iKJMdVML26J!d[UVX]mZ(JXaTdhWMEZ([UV
2' 3
UdaCPKfLkV
; <
=
; <
=
; <
3
6^)W!E.(L>PedVXVME L 6J!dh[KVX]mZ(JXaTdW!EZ[ 3
LQE^`df
2
? =
3
; VMEH^MLk[ <
2LkJMLE[U]mLk^kWML`S=
FEHG(IKJML O
6 NQPRLTSUEVXWMJMEHYKIUW!EHZ([\Z] T ^`ZabPRZ(VMEcW!EHZ([edfgPedJ!dhPKiKJ!dhVML`VjL%W!JMd^kWML`Sl]mJXZ(anW!iUL
[KLV^kZ(JMPKIUV
PedVXVME.(LjWMJ!d[UVX]mZ(JXaTdhWMEZ([UViKEH^'i SKZb[KZW6dPKPRLzdJE[ PedJMdffHL`f}WMJ!d[KVXf<dhWMEZ([UV 6iUEV^`Z([(KJMaCV
Z(IKJjiANQPRZWMiKL`VXEVrW!iKdhW{WMiKLbW#N%PRL5Z]^`ZJMPKIKV€EH[2SeIKLk[K^`LkV{W#N%PqLkV€Z]SKE.- LkJML`[U^`L`V{YqL)W%2LkL`[ VMLk[
W!Lk[K^`LkV6PedhJ!dPKiUJ!dVXE[KG€W!iULjVMdabLEH[U]mZ(JMabdhWMEZ([
[ ZWMiKL`JdVMPRL`^)W!VoWMiKL ^`Z(aCPqZVMEHWMEZ([Kdf JXIKfLkV
L%WMJ!d^)W!L`S ]mJXZ(a W%~Z5^`ZJMPRZ(J!d/SKZ5[UZW1SKE.- LkJ1VMEHG([KE.(e^zd[AWMfHN W!iKL)N iedLCVXEaCEfdJfLk[KGW!i SUEV W!JXEYKIQW!EZ[+ d[KS fZ([KGL`JfLQE^zdhf PedJ!dhPKiKJ!dhVML`V LQiKEHYKEHW fdJMG(LkJSKE L`JXG(L`[K^kLTEH[ aCLzd[UE[KG5W!iKd[
VMiUZ(JXWML`JZ([KLkV
[sW!iKL\[KL%W VXL`^kWMEZ([
~L
SKEHVM^kIKVMV iKZnW!iUL/(K[KSKE[UG(V Z]{ZIKJ d[edfcNQVXEV5G(IUESKL W!iUL
SKL(L`fHZ(PKaCL`[AWZ]Fd[ dhfG(Z(JXEHWMiKa ]mZ(JPedJMdPKiKJMdVML d^%IUEVMEcW!EHZ([
*T
L ]mZ(IU[KS WMiedhWW!iULjabd X Z(JXEHW#N/Zh]=VMLk[AW!L`[U^`LrfHL(Lkf PedJ!dhPKiKJ!dhVML`VYKJML`d,M5SKZ[ EH[AW!ZCZ([KL 2
ZJMS
PedJMdPKiKJMdVMLkVZ(J1VXiKZ(JXWPUiKJ!dVXL`V 6iKEHV1EV1GZQZ%S [KLV]mJXZ(a d/^`Z(aCPKIUW!dhW!EHZ([edf PRL`JMVXPqLk^kWME (L
iKL)W!iKLkJ2E[bdVXW'dW!EV|W!EH^zdfeZ(Jd
VXN%arYRZ(fEH^7]mJ!daCL~Z(J+M 6iUL6L-qL`^)W!E.(L6IUVML6Zh]}VXW!dhW!EHVXWME^zdhfUW!Lk^'i
[KE %IUL`V7EHV2^`Z[9WME[KGL`[AWZ([5JXL`fEdYKfHL^kZ(IK[AW!V^kZ(ffHL`^)W!L`Sb]mJMZ(a d{^kZ(JMPKIUVed[US+UZ(Y %EZIKVMfcN ~Z(JXSKV
d[KSbVMiKZJXW7PUiKJ!dVXL`V7iKdL1d{iUEG(iKLkJO^'ied[K^kL1Z] dPUPqL`dJMEH[KGjEH[bWMiKL6^kZ(JMPKIUV~W!iKd[TfHZ([KG PKiKJ!dhVML`V
[ d V|N%arYqZfE^ ]mJ!daCL~Z(JIM ~L4^zd[tG(LkW d5YRLkWXW!L`J^kZ&L`JMdG(L4Z]~VMiKZ(J|W!LkJ PKdJ!dPUiKJ!dVXL`VW!iKd[
W!iUL5fZ([KGL`J{Z[KL`V4IKVXE[KG LUEHVXWME[KG fHLQE^`df2JXL`VXZ(IKJM^kL`V2VMEH[K^`LTVMIK^'iwJMLkVMZ(IKJX^`LkVbJMdJMLkfHN E[K^kfIKSKL
fZ[KG€PKiKJMdVMLkV
IKJg^`Z(JXPKIKVgG(E L`V=dh[{E[AWML`JMLkVXWME[KGE[KVXEG(iAWZ([r^kZ(abPRZ(VXEHW!EHZ([edfJMIKfHL`V iKEHfLL%W!JMd^kWML`S
^`ZabPRZ(VMEcW!EHZ([edfAJXIKfLkV=LQiKEHYKEHWML`SriKEHG(i hdJXE<dYKEHfEcW#N Z([KfcN L`J|N{]mLuJMIUfL~W#N%PRL`VOd^k^`Z(IU[9WF]mZ(JFW!iUL
abd X Z(JMEcW#N Z]^zdVXL`V
[\ZW!iKLkJ~Z(JMSKV ^`Z(aCPqZVMEHWMEZ([Kdf JMIKfHL`V1]mZ(fHfZ d EHP(od[ SKEHVXWMJMEYUIUW!EHZ([+
W!iUL`JMLTEVrd VMabdffO[9IKarYRL`J{Z] (LkJXN ]mJML9IKLk[AW!fHN IKVXL`S JMIKfHL`V d[KS d_f<dJXG(Lb[9IKa{YqLkJ{Z]JXIKfLkV
W!iKdhW{Z%^`^kIKJ Z([K^`LCE[tW!iKLC^`ZJMPKIKV
d[KS _
R Lkf^kI
6iKEVjJMLkVMIKfcWj^kZ(JMJXL`fdhW!LkV
EcW!i
WMiKLCi9N%PRZW!iUL`VMEHV{Z] 6
V dJXJMEV
dYRZ(IUW d/fHEaCEHWML`S [9IKa{YqLkJZ]^`Z(aCPqZVMEHWMEZ([KdfgJXIKfLkV oJXZ(a d PUJ!d^)W!E^`dfFPRZ(EH[9W
M
Z] QEHL % EHWEaCPKfHEL`VgW!iedhWYANCL`[K^kZQSUE[KGW!iKLkVML]mL ]mJXL9IKL`[AWMfHNCIKVMLkST^kZ(abPRZ(VXEHW!EHZ([edfQJMIKfHL`V ~
L
^zdh[CL- Lk^kWME (LkfHN€SULzdfEcW!i€^kZ(abPRZ(VXEHW!EHZ([edf9JXIKfLkV9d[KS€WMiKLd^9IKEHVMEHWMEZ([{Z]qdff%W!iKLJXIKfLkV EV=[KZhW
dV=^kJMIK^kE<dfUdVFWMiedhW Z]qdhWMZ(aCE^PedJ!dhPKiKJ!dhVML`V TQZ1] dJ~LiKdL[KZW SUEVM^kIKVMVXL`S4W!iKL2EVMVXIKLZ]oW!iUL
ESUL`[AW!E.(e^zdhWMEZ([4Z] fZ([UGj[KZ[#SKLk^`Z(aCPRZ(V!dYUfLPedJMdPKiKJMdVMLkV 6iKL)NbZ%^`^kIKJE[CIKPbWMZ
VMLk[AW!L`[U^`L`VEH[ Z(IKJ^`ZJMPKIKV>< W!iUL`JML)]mZ(JML Z([UL{^zdh[K[KZW6VMEaCPKfcN [KL`G(fHL`^)W6W!iUL`a
Z]}W!iUL
V6Z(IKJ6d[edfcN%VMEV
VMiUZ&VQWMiKL`EHJ VMEaCEfdJMEcW#N E[CabL`d[KE[UGEVO^`Z([AWML%W7SKLkPqLk[KSKLk[9W7d[KSCEVOYedVXL`SbZ([bEH[U]mL`JXL`[K^kL6dh[KS
~Z(JMfHSM9[KZfHL`SKG(L [bfEHabEcW!L`S{SKZ(abdE[KVFEHWOEV~Z(J|W!iCEHW W!ZLUPUfZ(JXLWML`^'iK[UE 9IKL`VO]mZ(J LQWMJ!d^)W!EH[KG
VMIU^'i PedJMdPKiKJMdVMLkVoYqLk^zdIUVMLjWMiKLV!daCL^`Z([AWML%W1abdzN/]mJML%IUL`[AW!fcN JML>ZQ^k^`IKJEH[ WMiedhWSKZ(abdE[
17dJ`EHf<dzN
3+3 TQEH[K^`L2L
SKZ(abdEH[#EH[KSKL`PRL`[USKL`[AWVXIKababdJXEz dW!EZ[/VXN%VXWML`a
VXL`L
d[US
L`L
YRLkN(Z[KS_WMiKLVM^`ZPqLZ]gZ(IKJE[ L`VXWMEGAdW!EZ[
6iUL
dEa W!Z dPKPKfcN ^`Z(fHfLk^kW!LkSuPKdJ!dPUiKJ!dVXL`VCE[ud
efZ([UG€[KZ([>SKL`^kZ(abPRZ(VMdYKfLPKdJ!dPUiKJ!dVXL`VdJXL
JXL`VXIKfHWMV€Z]Z(IKJ4d[edhfHN%VMEHVried(L VML(LkJ!dfEHabPKfHE^`dhW!EHZ([KV]mZ(J{WMiKL5E[U]mZJMabdhW!EHZ([t]mI
VMEHZ([ dfHG(Z(JMEcW!iKa
6iULSKL`^kZ(abPRZ(VXEHW!EHZ([5dVXVMIKaCPUWMEZ([XIKV|W!E (KL`VVMLk[AW!L`[U^`L
PedEJ2^`Z(aCPedJXEVMZ[5Y9N
abdhW!^'iKEH[KG{WMiKL`EHJ2]mJ!dGabLk[9WMVQJ!dhWMiKL`J7WMied[5^`Z[KVMEHSKL`JXE[KG€L`d^'i VML`[AWML`[K^kL{dVdr[UZ([#SUL`^`ZabPRZ(V dYKfHLIK[KEcW eIKJ|W!iKLkJMaCZ(JMLAaTdhWM^'iKE[UG Zh]}VMLk[AW!L`[U^`L]mJMdG(aCL`[AW!VO^`d[TYRLW#NQPUE^zdhffHN{LQPKJXL`VMVXL`S5EH[
W!LkJMaCVZ]VXN%[AW'd^)W!EH^CJXIKfLkV VXIKG(G(LkVXW!EH[KG/W!iKdhW^`Z(aCPedJXEVXZ([ Z([ W!iUL€fLL`f Z]V|NQ[AW!d^kWME^4VXWMJMIK^
W!IUJML`VgaTdzNYRL`[KL(KW dhfEG[KabLk[AW PKJMZ%^`LkVMV
IUJFd[KdfHN%VMEHVdfVXZJXL(L`dfLkS{W!iKdhW=dfEHabEcW!LkS [9IKa{YqLkJ
Z]oVXIK^'i4JMIKfHL`VF^kZ(L`JXV=W!iKL2aTd X ZJMEHW#NZh]o^zdVXL`V(WMi9IKVOd6^`ZabPedhJMEVXZ([rdhfG(Z(JXEHWMiKa JMLkfHN%E[UG6Z([KfcN Z([
W!iUL`VMLbJMIKfHL`V 2
ZIKfSld^'iKEL(LbJMLzdhVMZ([edhYKfLC^`Z(LkJ!dGL
6iKL`JXLk]mZ(JXL FWMiKLbd^`^kIKJ!d^)NtZ]7VXL`[AW!Lk[K^`L
^`ZabPedhJMEVXZ([ SKLkPqLk[KSKVCZ([uiUZ& 2
Lkff ~
L ^zd[wESKLk[AW!EH]BNlPKiKJMdVML#fL(LkfPedJ!dhPKiKJ!dhVML`V
[ W!iUL
[KLQW^'iedhPUW!LkJ 2
L]mZ%^`IKVZ([ d€abL)W!iKZ%S5]mZ(JfL`dJM[UE[KG€VXIK^'i PedhJ!dPKiUJ!dVXL`V]mJMZ(a dC^kZ(JMPKIUV
! " #$ %
&iKEHV
^'iedPQW!L`J
E[AW!JXZQSKIU^`L`V d[ dIQW!Z(abdhW!EH^\abL)W!iKZ%S ]mZ(J PedJMdPKiKJMdVML L%W!J!dh^kW!EHZ([v]mJXZ(a
^`ZJMPKIKVCZ]W!LQWMV4^`Z([ (L)N%E[KGtW!iKL V!dhabL E[Q]mZ(JMabdhW!EHZ([
&iKL
d
L%W!JMd^kWML`S PKdJ!dPUiKJ!dVXL`VbdffHZ
L`aCPKEHJME^`df2V|W!IKSUEL`V4Z]6PedJMdPKiKJMdVMEH[KG\PKiKL`[UZ(abLk[ed W!Z\^`Z(aCPKfHL`aCL`[AW€W!iKL JXL`VML`dJM^'iuZ]6WMiKL`VXL
PKiKLk[KZ(aCL`[ed4E[ fHE[KG(IUEVXWME^kV2SKLkVM^`JXEYRL`S E[5W!iUL PUJML%EHZ(IKV^'iedPUWML`J
')(+*
,.-0/132)465678/$9:2;-
abL)W!iKZ%S ]mZ(J€W!iKL dIQW!Z(abdhW!EH^5d^%IUEVMEcW!EHZ([ Z]1PKdJ!dPUiKJ!dVXL`V 2
ZIKfSwied(L YqZhW!i PKJ!dh^kW!EH^zdf
d[KS\fHE[KG(IUEVXWME^j^`Z([KVXL9IKLk[K^`LkV
eJXZ(and5PKJMd^kWME^zdhfFPRZ(E[AWZ]
PKJXL`VMLk[AW!V d/aTd X Z(J6^'iedhffLk[KG(L{]mZJ6abd[AN sdPKPKfHE^`dhW!EHZ([KV
%EL SUE (LkJMVXEHW#N EH[tLQPKJMLkVMVMEHZ([
[ta{IKfHWME.#SUZQ^kIKabLk[AWVXIKaCaTd)
JME zdhWMEZ([ h EHSKL`[AW!E.(e^zdW!EZ[{Z]oPedhJ!dPKiUJ!dVXE[KGEVFJXL9IKEHJML`SrWMZ(e[KS€JXL`PRLkWMEHW!E.(L~E[U]mZ(JXaTdW!EZ[ EH[{W!iUL
D l: X%Y`LQNWR>IQG]U V]X7 [iY\KEH GEUAd7Y\[TUWPV]X%UAK_HX-LOJ%VEY GSlLQK IQG]UWR>UWP-LQNWN 'J%G]Y^KEY P?V]Y^[,UWPLQP=<?>A@ J-LOJ€Y G "%$lLOG!& UANAL('LQP-[
+ H,-eY IfSMP.) 98*80(4 
E[UPKIUW7SUZQ^kIKabLk[AW!V
[5GL`[KLkJ!dhWMEZ([+%PedJMdPKiKJMdVMEH[KG{EHV2LkabPKfHZ@N(L`SbW!Zr^kJMLzdW!L1aCZ(JML hdJMEHL`S5dh[KS
SeIKLk[AWCWML%W R_Z(VXW4^kIKJMJXL`[AWbdPKPKfHE^`dhW!EHZ([KV{IUVML
aTdh[%IKdffcN ^kZ(ffHL`^)W!L`S PKdJ!dPUiKJ!dVXL`V€W'dhEfZJML`S
W!Z4drVXPqLk^`E.(e^ dPKPKfHE^zdW!EZ[+9Z(J7IUWMEfE `LLQEV|W!E[UGrfLUEH^zdfqJMLkVMZ(IKJX^`LkVVXIK^'i dhVlZJMS LkWD R EffHL`J
LkWTdf 3jW!ZtESKLk[9WMEH]BN PKdJ!dPUiKJ!dVXL`V
PedJMdPKiKJMdVMLkV1EVW!EHabL ^`Z[KVMIKaCE[UG
ZWMiKL`J€dhPKPKfEH^zdhWMEZ([UV
QEV|W!E[UG
VZ~L(LkJ7WMiKL_PUJMZ%^`L`VXVTZ]abd[9IedffcN
R_Z(JMLkZ(L`J
W!iULrJMLkVMIKfcW!E[UGT^`ZffLk^kWMEZ([ EV[KZW6JML`IUV!dYKfHL{EH[
JMLkVMZ(IKJX^`LkVCEH[K^`fHIKSKL/abdEH[KfHN ~
Z(JMS # fL(Lkf7PedJMdPKiKJMdVMLkV?<~WMiKLkN
SKZ4[KZWEH[K^`fHIKSKLPKiKJMdV!dhf Z(J^`Z(aCPRZ(VMEcW!EZ[edfRPedJ!dhPKiKJ!dhVML`V
eJXZ(a
^kZ(ffHL`^kWME[KG
djfHE[KG(IUEVXWME^PRZ(E[AWZ]+%EHL 9 W!iKLkJML1dhJML9IKLkVXWMEZ([KV~^`Z([U^`L`JX[KE[UG iKEH^'i/f<d[UG(IedG(L
SKLQEH^`LkVdJML IKVXL`S W!Zb^`Z([UVXW!JXIK^kW1PedJ!dhPKiKJ!dhVML`V
L`[
W!iKZIKG(i fHE[KGIKEV|W!V iKZ/V|W!IKSKEHL`S PKdJ!d)
PKiKJMdVMEH[KG5PKiKLk[KZ(aCL`[ed/abd[9IedfHfHN ^kZ(abPUEfLkS fHEVXWMV6Z]OPKdJ!dPUiKJ!dVXE[KG5JXIKfLkVLmVML`L2iKdPUW!LkJ
3
[KZCL`aCPKEJXE^`df}L%EHSKL`[K^kL{iedhVYRL`Lk[ PKJXZ&%EHSKL`S W!ZCVMIKPKPRZ(J|WWMiKLj^kf<dEHa WMiedhWVMIK^'i fEV|W!VdJXLjL*
iedIUVXW!E.(L
[_] d^)WeW!iUL`JML EV[KZbL%ESUL`[K^kLjW!iKdhWVMIK^'i fHEV|W!V^`Z(LkJWMiKLjaCZ(V|W]mJXL9IKLk[9WMfHN IKVXL`S
PedJMdPKiKJMdVMLkV
[KL2dzNtWMZ K( [KS d[UV ~
L`JMV W!Z W!iKLkVML 9IKL`V|W!EZ[KVjEHVW!Z_d[edfcN k
L4E[KV|W'd[K^kL`V Z]
PedJMdPKiKJMdVMLIKVMdG(L
&Z5G(L)WdTVME zdYUfL{VMdaCPKfL
Z]OPedJMdPKiKJMdVMLkV+~Lr[KLkL`StdT^`ZJMPKIKVJXE^'i EH[ PedJMdPKiKJMdVMLkV
d[KS4dh[€dIUWMZ(aTdW!E^aCLkW!iUZQS{]mZJFd^9IKEJXE[KG1PKdJ!dPUiKJ!dVXL`VF]mJXZ(a W!iKEHVF^`ZJMPKIKV VZPqL)]mIKffcN VMIK^'i
d6^kZ(JMPKIUV2ZIKfSr^kZ([KVXEVXW=Z]KW!L%W!V ^`Z[*LkN%E[UG1W!iKL7VMdaCL2aCLzd[KEH[KGYKIUW IUVME[UG6SKE.- LkJML`[AW~Z(JXSKV
W!Z6LQPKJMLkVMV W!iUEVFaCLzdh[KE[KG
[rWMiKL7PKJXL%EZ(IUV=^'iedPUWML`JCmVML`L2PedG(L 43)2LPKJXZ(PRZ(VMLkSrW%2ZW#N%PqLkV
Z]2^`Z(JXPqZ(JMd!iKE^'i#(KWW!iKEHV PUJMZ e( fHL
dfcW!L`JX[edhWME (LrWMJ!d[UVMf<dW!EZ[KVZ]W!iKLCV!daCL€]mZ(JMLkEG([\VXZ(IKJM^kL
W!L%W}dh[KS [KLVMPedPRL`J1dJXWME^`fHL`VdYRZ(IUW6WMiKL{VMdaCLjL(L`[AWPKJXZQSUIK^`LkS Y9N SKE.- LkJMLk[9WJMEHWML`JXV
abd[9Iedf~d[edfcNQVXEVjZ]d VMabdffPRZ(JXWMEZ([ Z]W!iKLkVML5^kZ(JMPRZ(J!d ^kZ([(eJXabLkS Z(IKJji9N%PRZW!iUL`VMEHVrW!iedW
W!iUEV1^kZ(JMPKIUV^`Z([AW'dhE[KVabd[AN EH[KVXW!d[K^kL`VZ]PedJMdPKiKJMdVMLkV lL4dfHVMZ/ZYKVMLkJ (LkStWMiedhWPedhEJMVZ]
VMLk[AW!L`[U^`L`V€^kZ([ (L)NQEH[KG W!iULTV!dhabLCE[U]mZJMabdhW!EHZ([tdJMLCIKVMIKdffcN\SKL`^kZ(abPRZ(VMdYKfLCE[AWMZ ~
Z(JMS dh[KS
PKiKJMdVMLfHL(Lkf IK[KEHWMV iKE^'i_dJXL PKdJ!dPUiKJ!dVXL`VZ]gLzd^'i_ZW!iUL`J
[5WMiKEV7^'iKdPUW!LkJ~LPKJMLkVML`[AWd[5IK[UVMIKPRL`J QEHVMLkS_aCLkWMiKZQS/]mZJ7PedJMdPKiKJMdVMLLQWMJ!d^)W!EHZ([
]mJMZa djPedhJ!dfHfL`fU^`Z(JXPKIKV E L`[bdjPedhEJ Z] VXL`[AW!Lk[K^`LkV EHWMibVXEaCEfdJ=aCLzd[KEH[KGAZ(IUJWML`^'iK[KE 9IKL
ESUL`[AW!E.(eL`V5dW!Z(aCE^ PedJMdPKiKJMdVMLkV_dh[KS ^`Z(aCPRZ(VMEcW!EZ[edfJMIUfL`VT^`Z([AW'dhE[KLkSsEH[ W!iUEV/PedhEJ
LUdaCPKfHL U WMiKLPedEHJZ]VML`[AWML`[K^kL`V6VXiKZ[ EH[FEG(IUJML
PKiKJMdVMLkV
(&K5%*0A2- *00!4.(-43 GH%7 # 1 "$#
JMIUfL ; eZ(J
1N%EL`fHSKV7W!iUJML`LPedhEJMVZh]FdW!Z(aCE^1PKdJ!d)
- , ( # %76 %74.-43Kdh[KS_Z[KL^`Z(aCPRZ(VMEcW!EZ[edf
< j
WMZ - =H ^kZ(JMJXL`VMPRZ([KSUE[KGCW!Z
hEH[KG
!( * # *00!> "$#
-bdh[KS
!( * # &%
*00!4.(->3 TQIKSUSKL`[KfcN4iKL`J
] d^kL^'iKd[KG(LkSTL`[AWMEJMLkfHNrd[KSCE[KV|W!LzdhSbZ] V!dSU[KL`VXV2EHWOLQPKJMLkVMVMLkS5EJXJMEHW!d)
W!EHZ([+d[KS,EHWMirW!iKL2abZ(V|WL`[KZ(aCZ(IKV~Z(JXSKV VMiKLYRL`G(d[4d^`^kIKVMEH[KGaCL2Z]RVMLkf (eVXiK[KLkVMV
d[KS ^`JXIKL`fcW#N TQiKL4SKJXELkStiUL`J1W!L`dJMV d[KS\YqLkGAd[\W!Z5JXL`PKJXZAd^'itabL E[ 2ZIK[KSKEH[KG5W!L`JXabV }]mZ(Ja{N
VMLkf (eVXiK[KLkVMV1dh[KS_^kJMIKLkfHW#N &
FEHG(IKJML
~Z JMLkIUW kL`J QT Z([edW'd,-
E[
R
&
[KGfEVXilW!JMd[KVXf<dhWMEZ([KV{Z]W!iKLIKVXVME<dh[wVXL`[AW!Lk[K^`L ]mJMZa Z(fV|W!Z@N5Q V
&iKL
IKJ aCLkWMiKZ%Sr]mZ(J=PedJMdPKiKJMdVMLLQWMJ!d^)W!EHZ([€YKIKEHfSKV=IUPqZ([€WMiKLabL)W!iKZ%SKZ(fHZ(GN SKL(L`fHZ(PRL`S
&
d^'iUE[KL gJMd[KVXf<dhWMEZ([
&
R C3 [
R
&
RPedEHJMVZ]=VML`[AWML`[K^kL`V6]mJXZ(a
dbYUEfEH[KG(Iedhf ^`ZJMPKIKVdJXL
dfHEG([KLkS+Kdh[KS ZQ^k^`IKJXJML`[U^`L PedhWMWML`JX[KVZ] ~
Z(JXSKVEH[/W%2ZCf<dh[KG(IedGL`VE[5WMiKL1W!LQWdJXLL%W!JMd^kWML`S
d[KSlaTdhWM^'iKL`S IKVMEH[KG ^kZ(JMJXL`fdhW!EHZ([ aCLzdhVMIKJXL`V
&iKLkVMLTWML`^'iK[KE 9IKL`VrIUVMIedfHfHN\JXL`fHN\Z[
PedJMdffHL`f
W!L%W!VPKJXZQSKIU^`L`S YAN1^kZ([KVMEHVXWML`[AWfEHWML`JMdfWMJ!d[UVMf<dW!EZ[KV@VXIK^'i{dhV}W!J!dh[KVMfdhW!EHZ([KV}Z]%PedhJMfEdaCL`[AW'dJ|N
PKJXZQ^kL`L`SUE[KG(VD 7d[edSKEd[ 6
V d[UV!dJXSKV3
L`VXZ(IKJX^`L`V6Z]FWMiKEVW#N%PqL{dJML
[KZWJML`dSKEfcN5dhdEfdYKfHL1]mZ(JPedJ!dhPKiKJ!dhVMLrdh^9IKEVXEHWMEZ([
] d^)W Z(IKJ6^`Z(JXPKIKVEV6] dhJ6]mJMZ(a YqLkE[KG dhV^`fL`d[\dV1WMiKL€PedJMdffHL`f^`Z(JXPqZ(JMd/IKVMLkS EH[
R
&
[
WEHV
IK[KJXLzdfHEV|W!E^W!ZrLQPqLk^kWW!iedW7W%2Z4dhJXW!EH^`fHL`V7dhYqZ(IQW7W!iKL6V!daCL1LL`[AW]mJMZ(a VML(LkJ!df [KLVMPedhPqLkJMV
~Z(IKfSsPKJXL`VMLk[AW
d[KS\] d^)W!V
(Lk[
LUd^)W!fcN W!iKLtV!daCL\E[U]mZJMabdhW!EHZ([
&iKL)NvabdzN
WMiKL4abZ(JXL€iKZ(aCZ(G(Lk[KL`Z(IUV PKdJXWZ]~Z(IKJ^kZ(JMPKIUV
SKE.- LkJ5E[vdhWMWMEHW!IUSKL 
dh[KG(fL
a{IKfHWMEPKfHLjW!JMd[KVXf<dhWMEZ([KV
Z] fEcW!LkJ!dJ|NwWML%W!V
LQiKEYUEHW5SKE.(LkJMG(Lk[K^`L\E[ abL`d[KE[UG
JMLkVMZ(IUJM^`LEV [UZWG(L`[KLkJ!dfHfHNjIKVMLkS/dVdPedJMdffHL`fU^kZ(JMPUIKVOE[
W!iULWML`^'iK[UE 9IKL`VIKVXL`S E[5W!JMdSKEHWMEZ([Kdf
R
&
ZW5VXIKJMPUJMEVXE[KGfHN WMiKEVTW#N%PRL Z]
R
& &iKEV VXIKG(G(LkVXWMV~W!iKdhWdSKZ(PQW!E[UG
EHWMiKZ(IUWaCZ%SKE (e^`dhW!EHZ([TEHV[KZWWMiKLabZ(V|WL-qL`^)W!E
L
2d@N5WMZ€W'd^M9fLWMiKLW'dVIM/Z]gPedJ!dhPKiKJ!dhVME[UGCL%W!J!dh^kW!EHZ([ LTSUL(LkfZ(PRL`Sld[lIU[KVMIKPRL`J %EVMLkS fL`dJM[KEH[KG dfGZ(JMEcW!iKa ]mZ(J PedJ!dhPKiKJ!dhVMLCL%W!JMd^kWMEZ([+
SKLkVMEG[KL`S/WMZ€Z(PqLkJ!dhWML1Z(LkJ7W!L%WMV^`Z([ (L)N%E[KG€W!iUL1V!daCL1EH[U]mZ(JMabdhWMEZ([4PKJXZQSKIU^`L`S YAN/SUE -qL`JMLk[AW
JMEcW!LkJMV LC[UZ& YKJMEHLSKN SUL`VM^kJMEHYqL€W!iULTdfHG(Z(JXEHW!iUa
JMLkVMPRZ([KSKEH[KG VXL`[AW!Lk[K^`LkVTdJXL/dfHEG([UL`S
x1IKJMEH[KG d PUJML`PUJMZ%^`L`VXVMEH[KG V|W'dG(L ^`Z(J
lLTYedVMLkS Z(IKJraCLkWMiKZ%S ]mZ(JjPedJ!dhPKiKJ!dhVML/LQWMJ!d^)W!EHZ([
Z([ W!iKL_dVXVMIKaCPUW!EHZ([ W!iedhWCPKiUJ!dVXL`VTEH[ dhfEG[KL`S VMLk[AW!L`[U^`L`V iKE^'i dPKPRLzdJ4E[wVMEHabEHf<dJj^`Z([
&
W!L%W!VdJXL{PedJMdPKiKJMdVMLkV Z5dIUWMZ(abdhW!EH^zdfHfHN/EH[U]mL`J iKE^'i ^kZ([AW!LQWMVdJML{G(ZQZ%S PUJML`SUE^kWMZ(JMVZ]
PedJMdPKiKJMdVMLkVe^kZ([AW!L%WMV6VMIUJMJMZIK[KSKEH[KG4ESKLk[9WME^`df ~
Z(JMSUVEH[ dfEHG([KL`S5VXL`[AW!Lk[K^`LkV1dJXLL%W!JMd^kWML`S
d[KS e( fcW!LkJML`S dh^`^`ZJMSKEH[KG W!Z WMiKL`EHJrPKJMLkSKE^)W!E.(L5PRZ&~L`J
L%WMJ!d^)WT[KL PedJMdPKiKJMdVMLkV
&iKLk[ OW!iKLkVML
+
^`Z([AWML%W!VCdJXL5IKVMLkS WMZ
[ dSKSKEcW!EZ[ WMZ fHLzdJX[KE[UGtfHLQE^`dfPedJMdPKiKJMdVMLkV7WMiKL_aCLkWMiKZ%S
dfHVMZ€fL`dJM[UVV|N%[9W!d^kWME^PedJMdPKiKJMdVMLkVeYAN5G(Lk[KL`JMdfE `EH[KG€VXN%[AW'd^)W!EH^ PKdhWMWML`JM[UVZh]gWMiKLL%W!JMd^kWML`S
PedJMdPKiKJMdVMLkV
%W!JMd^kWML`SCPedJ!dhPKiKJ!dhVML`VdJXLW!iKLk[bdhPKPKfEHL`SrWMZWMiKL^`Z(JXPKIKVQdh[KS4IKVMLkSbW!ZfHLzdJX[
[KL ^`Z([AWML%W{JXIKfLkV
SKEHVM^`ZL`JMLkS
&iKEHVEHW!LkJ!dhWME L4dfG(ZJMEHWMiKa
^`Z([AW!EH[9IKL`V IK[AW!EHf=[KZ [KL PedJ!dhPKiKJ!dhVML`VjdJXL
IKJdfHG(Z(JXEHW!iUa iKdVVMLL`JMdfg[UZ&L`f ]mLzdW!IKJXL`V
`( ._2%38#2%3)4_. 4
`$%#/>#& 0#$-# $%#/?( /
[5^kZ([AW!J!dhVXW7WMZrLzdJXfEHL`J 2
ZJ+M K
Z(IKJ2dPKPKJXZAd^'i dfHfZVO]mZ(J2EHSKL`[AW!E.(e^zdW!EZ[TZ] arIUfHW!E ~Z(JMS
PedhJ!dPKiUJ!dVXL`VoEH[ dSKSKEcW!EZ[/W!Z4VMEH[KG(fL ~
Z(JXS_PedhJ!dPKiUJ!dVXL`V
l21$-#€2%3'45. 484 45/13 2%3)4_.#&0#$-# $%#/13'. $ `&'( /
IKJOdPUPKJMZAdh^'i4N%EHL`fSUV dVMLkWOZh] PedhJ!dPKiUJ!dVXE[KGPedWMW!LkJM[KV YAN€L%W!J!dhPqZ(fdhW!EH[KG6WMiKLVXN%[AW'd^
WME^bd[KS aCZ(JMPUiKZ(fZG(E^`df=VXWMJMIK^)W!IKJXL5Z]LQWMJ!d^)W!LkS PedJ!dhPKiKJ!dhVML`V
&iKEHV{PKJXZQ^kL`VMV€JXL`fHEL`V
Z([ aCZ(JMPUiKZ(fZG(E^`dfOE[U]mZ(JXaTdW!EZ[ d[KS PedhJXW > Z] #VXPqLkL`^'i W'dhG(G(E[UG
R_d[AN
Z]W!iKL5JXIKfLkV
EHSKL`[AW!E.(eL`SbYANCWMiKLdfG(ZJMEHWMiKa abdhWM^'ibW!iUZ(VMLW!iedhW~ied(LYqLkL`[/SUL`VM^kJMEHYqLkS5dVPKJMZ%SKIK^)W!E L
PedhJ!dPKiUJ!dVXL`VE[5W!iUL fHE[KGIKEV|W!E^fEcW!L`JMdhW!IUJML
# `21#2%3)4_. 2i4 2 (C/?3 3'&)#$-3)2 &)(5(*& 4 3'. M2B2i$%#.0/?&'#2i3'45.`/
IKJ abL)W!iKZ%Sl^`d[liKd[KSKfHLCWMJ!d[KVXf<dhWMEZ([UVjdhfZ([KG d ^`Z([AW!EH[9IKIKa Z]VXEaCEf<dhJMEHW#N } J!dh[KG(E[UG
]mJXZ(a PedhJ!dfHfL`fRW!JMd[KVMfdhW!EHZ([KV2WMZ4^`Z(aCPedJMdYKfL^kZ(JMPRZ(JMd
L4IKVML€ZIKJ1W!Lk^'iK[KE 9IKL€WMZ5L%W!JMd^kW PedJMdPKiKJMdVMLkV1]mJMZ(a Z(IKJ6WMJ!d[UVMf<dW!EZ[KVd[KS\[KLV
^`ZJMPRZ(J!d EHWMivG(Z%Z%SsJXL`VXIKfHWMV Z[vYRZW!iPedhJXW!V Z] W!iKLt^`ZJMPRZ(J!d E[ WML`JMaCV Z]{d^`^kIKJ!d^)NZ]
L%WMJ!d^)W!L`SuPedJMdPKiKJMdVMLkVTd[USu^kZ&L`JMdG(L
&
lL dfHVMZ ]mZ(IK[USwWMiedhWCZ(IKJ4aCLkW!iUZQS VMEHG([KE.(e^zd[AWMfHN
Z(IUWMPqLkJX]mZ(JXabV2VXW'dW!LZ] W!iKL dJ|WCR sW!L`^'iU[KE 9IKLkV6dPUPKfEHL`S/W!Z€PKdJ!dPUiKJ!dVXE[KG€L%W!J!dh^kW!EHZ([5W'dV
&iKL€iKEHG(i
9IedfHEHW#N Z]PKJMZ%SKIK^kL`S\Z(IUWMPKIUWdhffZVIKV1W!Z5JXL`fEdYKfcN d[edfcN k L{W!iUL€PedJ!dhPKiKJ!dhVME[UG
aCL`^'ied[UEVMaCV LQiKEHYKEHWML`SEH[WML%W
^kZ(abPUfL`aCL`[AWME[KG7ZIKJ aTdh[%IKdfAd[edhfHN%VMEHV}Z]9W!iKLOVXaTdfHfhPRZ(J|W!EZ[
Z]W!iKL^kZ(JMPKIUV
&iUL
JMLkaTdEH[KSKLkJ Zh]rW!iKL ^'iedPUWML`J_EV Z(JMGAdh[KEkL`SvdV_]mZ(fHfZV ~
L e
( JMV|W PUJMZ%ESKLld[
Z(LkJ %EL Z]LQEHVXW!EH[KG,~Z(J/Z[5PedJ!dhPKiKJ!dhVME[UG€L%W!JMd^kWMEZ([5aCLkWMiKZQSUV
Lk^kW!EHZ([
rSKL`VX^`JMEHYqLkV
SedhW!d/IKVMLkS\E[ Z(IUJ2ZJ `L aCPKiedVXEkE[KGbEHW!V6SKE -qL`JXL`[K^kL`V1]mJMZa W#N%PKEH^zdfgPedJ!dhffLkf ^`Z(JXPKIKVIKVXL`S
E[Cabd^'iKE[UL7W!J!dh[KVMfdhW!EHZ([
[CVMLk^kWMEZ([
&iKLSKL`VX^`JMEHPUW!EHZ([CZ] WMiKL^kZ(JMPUIKV Qd
2LSKLkW!dEfKZIKJ~PKdJ!dPUiKJ!dVXLL%W!JMd^kWMEZ([4W!Lk^'iK[KE
aCLkWMiKZ%SKZ(fZGN{]mZ(JOPedhJ!daCLkWML`JOL`V|W!EabdhWMEZ([Cd[KSCJMLkVMIKfcW!VZ]
Z(IKJ LdhfIedhWMEZ([ dJXL~PUJML`VXL`[AW!LkSrE[ VMLk^kWMEZ([
PedJMdPKiKJMdVMLkVEH[5VMLk^kW!EHZ([
9IKL
L~^kZ([K^kfIKSKL EHWMi WMiKL~d[edfcNQVXEV Z]UL%W!JMd^kWML`S
')(
/ 4
21 2
1
€6
61 9 -
d[AN dPKPKfHE^`dhW!EHZ([KV dJMLbJML%IUEJMLkSlW!Z SKLzdf EHWMilW!iULTIK[KfHEaCEHWML`S hdJMEHLkW#NtZ] 2
d@N%V{WMZ
LQPKJXL`VXV/W!iKL VMdaCL E[Q]mZ(JMabdhW!EHZ([
PKiKJMdVMLkVied(LL`aCL`JXG(L`S
Z ] dJ7WMiKJMLkL aTdXZ(JTdhPKPKJMZ(d^'iKL`V5Zh]^`Z(fHfL`^)W!EH[KG PKdJ!d)
aTd[9Iedhfq^kZ(ffHL`^kWMEZ([ Q IUWMEfHEzdW!EZ[CZh]gLQEVXWME[KG{fLQEH^zdfRJMLkVMZ(IKJX^`LkVdh[KS
^`ZJMPKIKV#YedhVML`S_L%W!JMd^kWMEZ([ Z]gPedJMdPKiKJMdVMLkV
,^,
!#" !%$ d[9Iedhf^`Z(fHfL`^)W!EHZ([ Z]jPedJ!dhPKiKJ!dhVML`V EHV5IKVMIedhffHN IKVMLkS EH[ G(L`[KLkJ!dhWMEZ(['& Z(JMSedh[KVd(MdEcW
W!JXL`SKGL K dh[KS gZfG(IKLkJML*)+)8<-,Z(YKEH[+.) -< _^ LkZ[+  I 9 E^'i+Ud[KS
ied
/)
10
gdJ!d&
PKiKJMdVMEH[KG EV~d[TEH[KL%EHW!dYKfHLPedJXW~Z]}d[ANbGL`[KLkJ!dhWMEZ([4W'dV Q YRL`^`dIKVML6djVXL`abd[AW!E^^`Z[K^`LkPUW7^`d[
YRLJMLzdhfEkL`S4E[€abd[ANrSUE -qL`JMLk[AW 7
dzN%V [KZE[KGa{IKfHWMEPKfHL 2
d@N%VOW!Z (LkJMYedhfEkLd1^`Z([U^`L`PQW2^`d[
iKLkfP WMZTG(Lk[KL`JMdhW!L€d4W!LQWiKE^'i YRL`V|W K( WMV6LQEHVXW!EH[KG/V|NQ[AW!d^kWME^rdh[KS PKJMdG(abdhW!EH^ ^kZ([KV|W!J!dhE[AW!V
&J!dSKEcW!EHZ([edfHfHN }dfHWML`JM[KdhW!E (L
`dhW!EHZ([KV
. (LkJMYedfHE
d[KStdJXL4dPKPKfHE^`dhW!EHZ([#VXPqLk^`E.(e^
dJMLCSKLkJME L`Sl]mJXZ(a d aTd[9Iedhf^kZ(JMPUIKVrd[KdfHN%VMEHV
&iKL4G(Lk[KL`JMdhW!EHZ([
fEcW!L`JMdhW!IUJML{iKdV^`Z([K^kL`[AW!JMdhW!LkS Z[/2dzN%VWMZ
SKL`df EHWMi5PedJMdPKiKJMdVMLkV EHW!iUE[ drfLQE^zdhf ^'iKZ%Z(VMLkJiUEfL%IKd[AW!EHW!dhW!E.(L1SUL`VM^kJMEHPUW!EHZ([KVZ] W!iUL
PedJMdPKiKJMdVMEH[KG ^`dPed^kEHW!EHL`V{d[KS d aCLkWMiKZQSUZ(fZ(GhN ]mZ(J{^kZ(ffHL`^kWME[KG PedJMdPKiKJMdVMLkV€IKVMIKdffcN iKdL
[KZWYRL`Lk[ dSUSKJMLkVMVMLkS
@ 32 45" !%$ 6$47$98#: 4<;B=: M
>
M`
&iKLjIUW!EHfE`dhW!EHZ([5Z]FL QEV|W!E[UGbfHL QE^`df JML`VXZ(IKJX^`L`V
VXIK^'i dV lZ(JXS L)WoW!ZCSKL`JXE L{PedJMdPKiKJMdVMLkV
Z(LkJM^`ZabLkV7W!iKLVM^zdhf<dYKEHfEcW#N€PKJMZYKfLka dhVMVMZ%^`EdhW!LkSEHWMiTW!iUL1PKJML%EZ(IKV7dPKPKJXZAd^'i
LQEH^zdfRJML
VMZIKJM^kL`V dhJML\IKVMLkS EH[sV|W'dhWMEV|W!E^`df1G(Lk[KL`JMdhW!EHZ([+VMIKaCaTdhJME`dhW!EHZ([ d[US 9IKLkVXW!EHZ([#d[KV ~
L`JXE[KG
pPRL`JXWME[KLk[AW
9IKL`V|W!EZ[ iUL`JML EHV iedhW W#N%PRL Z] lZ(JXS L)W\JMLkf<dhWMEZ([KV_^zd[ YRL ^`Z[KVMEHSKL`JXL`S
dV5PedhJ!dPKiUJ!dVXL`V
PKiKJMdVMLkV
&
[sVMZabL\dPUPKfEH^zdhWMEZ([KVZ([KfcN VXN%[KZ[9N%aCV dhJML ^`Z[KVMEHSKL`JXL`SW!Z YqL PKdJ!d)
d[UG 9 EfSULdh[KS 
[KEGi9W ) 89 0 Q< EH[TZWMiKL`JXV%fZ%Z(VMLkJ~SUL(e[KEcW!EHZ([KV~dJMLIKVMLkS & 7dhJ ` EHf<dzN
d[KS fiedSKdS+=)
0
&iKL`VXL{SKL e[KEHWMEZ([UV6dJXL
(
dhfES EH[ WMiKLj^kZ([AW!LQW6Z]=PKdJXWME^`IUf<dJdPUPKfEH^zd)
Z(JXS L)WJXL`fdhW!EHZ([KV2N%ELkfS PedJMdPKiKJMdVMLkVEH[ G(L`[KLkJ!df W!EHZ([KV><KiKZ2L(LkJREHWEV[UZW^`fHLzdJ iKEH^'i
IUW!ZaTdhWME^`dffcNu^kZ([KV|W!JMIU^kW!LkSvWMiKL`VMdIKJMEVXL`Lka
abd[9IedffcN # SKLkJME L`S fHLQE^`df=JMLkVMZ(IUJM^`LkV
W!Z YqLtd[sdPUPqL`dfEH[KG dfHWML`JX[edhW!E.(L WMZ
LkW!iUZQSKV]mZ(JWMiKL`VMdIKJME ^kZ([KV|W!JMIU^kW!EHZ([ dJML4YedVXL`S Z([
W!iUL x1EHVXW!JXEYKIQW!EZ[edfN%PqZWMiKL`VXEV iKE^'iuVXW!dhW!LkVbW!iKdhW 2
Z(JXSKVbWMiedhWCZ%^`^`IUJMJMLkS EH[wWMiKL_VMdaCL
&
^`Z[9WML%W!VWML`[KS5W!Z{ied(LVMEHabEHf<dJ aCLzd[UE[KG#&EH[KSKfL*) < gL`JXL`EHJ!d EHVMi9YAN o d[US
6dW `E.hdVMVXEfZG(fZ(I
dh[KS ^ 
L`Z[+ ) < HE [+ ) 89
0
LkL
/)
<
Z(JEH[KVXW!d[K^`LRW%~ZT[UZ(IK[KVdJML fE LkfHN
W!Zwied(LlVMEaCEfdJTaCLzdh[KE[KG Ec]{W!iULkNW!Lk[KSvWMZ Z%^`^`IUJ dV W!iUL SKEHJMLk^kW_Z(Y X L`^)W!V_Z]{WMiKL VMdaCL
(LkJMYKV
JMEHG(E[edhffHN F
VXEaCEf<dhJMEHW#N > YedVMLkSldhPKPKJMZ(d^'iKL`V~L`JXL SUL(LkfZ(PRL`S ]mZ(JrSULzdfHE[KG EcW!i W!iUL
SedhW!d5VMPedJXVMLk[KL`VXV{PKJXZ(YKfLka YAN LkVXW!EHaTdW!E[UG/W!iKL€fHE LkfEHiKZQZ%S Z]IK[UVML`Lk[ LL`[AW!V]mJMZa W!iKdhWZ]
VMEHabEHf<dJL(L`[AWMV4WMiedhW€iKdL5YqLkL`[ VMLkL`[
3&
< L`JMLkEJMd EVMi9YAN d[US
&
E[KSUfL )
LkL )
0
,L`^`Lk[AW!fHN %WMiKL`VXL6aCLkWMiKZQSUV ~L`JXL1dfHVMZjdPKPKfHEL`S€WMZjW!iUL`V!dhIKJMER^`Z([UVXW!JXIK^kWMEZ([ Qdh[KSTL(L`[5SUEJMLk^kWMfHN
^`ZabPedhJML`S W!Z WMiKL_i9IKabd[>^`JMdh]BW!LkSwfHLQE^`dfJMLkVMZ(IUJM^`LkV Z(JXS L)W/d[US , Z(G(L)W
&
E[+ ) €9
0
iKEHfL1W!iUL VXEaCEfdJMEcW#N4YedVMLkS dPUPKJMZAdh^'iKL`Vied(L YqLkL`[ VMiKZ[ WMZ4EaCPKJMZ(Lfd[KG(IKdG(LaCZQSKLkf.
E[UG(W!iKL)NCSKZj[UZW2VXL`Lka YRLdVPKJMZ(aCEVXE[KG1]mZJPKdJ!dPUiKJ!dVXLL%W!J!dh^kW!EHZ([
~Z(JMSKV7dJMLVMEHabEHf<dJ(YKIUW~W!iKL)NTdhJML[KZW7PKdJ!dPUiKJ!dVXL`V ]BWML`[bWMiKLL%W!JMd^kWML`S
ZJ~LKdhabPKfHL *iKEfHLXSKZ(G{d[KSX^zdhW
dJXL1JMLk^`Z(G([UE`LkS dV2W!iULabZ(V|W7VXEaCEf<dhJ^kZ([K^kL`PUWMVYANbW!iKLaCLkWMiKZQS5SUL`VM^kJMEHYqLkS EH[
&
E[ *)€9
EHWEHViedJXS WMZ4EabdG(E[ULd€^`Z([AW!L%W6EH[iUE^'i W!iKLkVML 2
ZJMSKV 2
ZIKfS YqLEH[AW!L`JX^'ied[KGLzdYKfHL
[KZWMiKL`JrZY*%EHZ(IKVrfHEaCEHW'dW!EZ[
0 Z]IKVXE[KG LQEVXWME[KG fLQEH^zdfOJMLkVMZ(IUJM^`LkV€]mZ(JjPKdJ!dPUiKJ!dVXL
d^%IUEVMEcW!EHZ([ EVrW!iKdhWbWMiKLkN SUZ [KZhWb^kZ([AW'dEH[ua{IKfHWME. ~Z(JXS PedJ!dhPKiKJ!dhVML`V><WMiKEV4iedhVCYRL`Lk[ W!iUL
^zdhVML6]mZ(J~aTdh[%IKdffcN*>^`JMdh]BW!LkSbW!iUL`V!dhIKJME dV ~
L`ffqdV2]mZJ7dIUWMZ(abdhW!EH^zdfHfHNr^kZ([KV|W!JMIU^kW!LkS JML`VXZ(IKJX^`L`V
9
IK^'i W!iKLkV!dIUJME dfHVMZ4SKZ4[KZW^`Z[9W!dE[ ^kZ(abPRZ(VXEHW!EHZ([edfRPedJMdPKiKJMdVMLkV
! *
8
T
!
:
6VEH[5aTdh[9NbZWMiKL`J7W!dV9Ve^kZ(JMPUIKV >YedVMLkS
!%$ "
WML`^'iK[UE 9IKL`V]mZ(JPKdJ!dPUiKJ!dVXLd^9IKEHVMEcW!EZ[/ied(LW!iUL
PRZW!Lk[9WME<dfKWMZ N%EHL`fS4W!iULW#N%PRLZ] PedJMdPKiKJMdVMLkV2JML9IKEJXL`STYAN€]mJXZ([AW # Lk[KS/dhPKPKfEH^zdhWMEZ([UV EcW!iKZ(IQW
W!iUL VX^zdfdYKEHfEHW#NtYRZWMWMfLk[KL`^
dhVMVMZ%^`EdhW!LkS EHW!i iedh[KS#^kJ!dh]BWML`SwabL)W!iKZ%SKV
ZW4VXIKJMPKJXEVXE[KG(fcN
dfHfRLQEVXWME[KG ^`ZJMPKIKV#YedhVML`S dhPKPKJMZ(d^'iKL`V7dEa WMZ{L%WMJ!d^)W^`Z(aCPRZ(VMEcW!EZ[edfKPedhJ!dPKiUJ!dVXL`V iUE^'i
PKJXL%EZ(IUVMfHN2LkJML LQ^`fHIKVME.(L`fcN5^`ZffLk^kWML`S aTdh[%IKdffcN
&iUL
(eJMV|W€aCLkW!iUZQS
SKL`VX^`JMEHYqLkS E[tW!iKEHV{VMLk^kWMEZ([ VXL`aCE.#dIUW!ZaTdhWME^`dffcN LQWMJ!d^)W!VrPKdJ!d)
PKiKJMdVMEH[KG JXIKfLkV{]mZ(J{WML`^'iK[KEH^zdfW!LkJMaCV€d[KS IKVXL`V4d ^kZ(JMPKIUVrW!Z WMIK[KL/W!iUL`a
&iKL5^`Z(JXPKIKV€EH[
W!iUEVrdhPKPKJMZ(d^'i iKL`fHPKV{WMZ ^`JXLzdhWML5d[ E[UEHW!Edf=VXLkW4Z]JXIKfLkViKEH^'i dJMLbW!iKLk[ ]mIKJXWMiKL`JrJXL(e[UL`S
YAN ^kZ(aCPedJMEH[KGbWMiKLjWML`JXabV6WMiKLkN_G(Lk[KL`JMdhW!L EcW!i W!L`JXabV]mZ(IK[KS EH[_WMiKLr^`ZJMPKIKV 2
Z([KVXESKLkJMEH[KG
W!iUL€aTd[9IedhfgL- Z(J|WE[ Z(f L`S+}WMiKEV6WML`^'iK[UE 9IKL4VMLkL`aCVdPKPKfHE^zdhYKfLW!Z5VXEHW!IKdhW!EHZ([KV iUL`JML€EcW1EHV
9[KZ[
WMiedhWWMiKL[%IUarYqLkJZ]FPKdJ!dPUiKJ!dVXL`VEVfHEaCEHW!LkS &iUL
ZhW!iKLkJrabL)W!iKZ%SKVrSUL`VM^kJMEHYqLkSwEH[lW!iUEVrVXL`^kWMEZ([ IUVML d ^`ZJMPKIKVrWMZ ^`Z(aCPKfHLkW!LkfHN dI
W!ZaTdhWME^`dffcN/fL`dJM[ PedJ!dhPKiKJ!dhVML`V VMIKdffcN XV IK^'itdT^`ZJMPKIKVJXL`PRLzdhWMV6W!iUL€V!daCL{EH[U]mZ(JMabdhWMEZ([
abd[AN W!EHabLkV IKVXE[KG SKE.- LkJML`[AW ~
Z(JMSKV
&iUL`VMLbabL)W!iKZ%SKV^kZ(ffHL`^kWPKdJ!dPUiKJ!dVXL`VYAN\G(JMZIKPKE[UG
W!ZG(LkWMiKL`J2WMiKL`VXLJML`PRLzdW!L`S Z%^`^kIKJMJXL`[K^kL`Vodh[KS dYKVXWMJ!d^)W!EH[KG{]mJMZa WMiKL`a ^`Z(aCPqZVMEHWMEZ([KdfoJMIKfHL`V
&iKLr^kZ(aCabZ([
]mLzdhWMIKJMLjZ]=WMiKL`VXL4dPKPKJXZAd^'iKLkV1EVW!iedW6W!iULkN dEa WMZ/L%W!JMd^kW6PedJMdPKiKJMdVMLkV1Z]
d€JMLkf<dhWMEZ([5Z(JJXL`fdhW!EHZ([KVQE[ ^`Z[9WMJ!dV|WW!ZCZ(IKJaCLkW!iUZQS
(
&iKL
3\# M2i4 #2%3 ( 2 ` 4 ` /
(eJXVXWdhWXW!LkabPUW~W!Z€SKLkJME.(Ldrf<dhJMG(L#VM^`dfL^`ZffLk^kWMEZ([bZ]PedJ!dhPKiKJ!dhVML`V 2dVIK[USKL`J|W'd hL`[
&(dh^9IKL`aCE[ fddh[KV d[US
&
kZ(I
hL`JMabd[K[ !)
< (d^%IUL`aCE[+)
0 iKZ_EH[
Y9N
(L`V|W!EHGAdhW!LkS
&
hdJMEd[AW!V Z]RW!Lk^'iK[KEH^zdfeW!LkJMaCV iKLabdEH[€abZWME hdhWMEZ([rYRL`iUE[KS€W!iUL`VMLdPKPUJMZAd^'iUL`V 7
dVOW!ZEHa
PKJXZ&LE[U]mZJMabdhW!EHZ([jJXLkWMJMELhdfQYAN{^`Z([edhW!EH[KGdfHf9WMiKL hdJXE<d[AW!VFZ]eW!iKL~W!L`JXa EH[AW!Zd1[KZJMabdfE `L`S
]mZ(JXa ]mZ(JEH[KSKL5^`Z([KV|W!JXIK^kWMEZ([
[/WMiKL`EHJ~^kZ(JMPUIKVUWMiKL6abd(XZ(JXEHW#N4Z] W!L`JXabV2dJMLarIKfcW!E.'2ZJMSCPKiKJ!dhVML`V><UW!i9IKV~W!iKLkEJ2PKdJ!d)
PKiKJMdVMLkV2dhJMLSKLkJME L`S4W!iKJXZ(IKG(iC^`ZabPRZ(VMEcW!EHZ([edf%JMIKfHL`V 2
Z(aCPqZ(VXEHWMEZ([edhfQJXIKfLkVOdJMLJXL`PKJXL`VMLk[AW!L`S
YAN/PedhEJMV2Z]PedJXWZh]gVXPqLkL`^'i W'dGV7VML%IUL`[K^kL`V EHWMi ESKLk[9WME^`df ~
Z(JXSKV^`Z>E[KSKLQL`S
&iKLJXIKfLkV
dfHVMZ E[USKE^`dhW!L aCZ(JXPKiKZ(fHZ(G(E^`dfd[KSVMLkaTdh[9WME^ SUL`PRL`[KSKLk[K^`EHL`V YqL)W%2LkL`[ 2
Z(JXSKV iKE^'isdJXL
^`ZabPKIQW!L`SwIKVXE[KG\fLQE^zdhf7JMLkVMZ(IKJX^`LkV7VXIK^'i dV ,E X[+)
_EH^`JMZVMZ]BW
0 Z(JXS L)W& _EfHfLkJ6LkWjdf ) Z(JMS 0
7d(dzN(Lk[+ ELkPqLk[%YUJMZ%^ 2d[KS hd[
&
dh[KStWMiKL€W!iKLkV!dIUJMIKV Z]W!iKL~Z(JMStPKJMZ%^`LkVMVXZ(J
Z(JLUdaCPKfLeZ([KLZ]W!iKLLQWMJ!d^)W!LkS JMIUfL`VWMJ!d[KV|]mZ(JMaCVd[ 6
S X Lk^kWME (L
ZIK[ WML`JXa E[AW!Z
& & vx1LkW
0
EVgd6[KZ(IK[{E[jWMiKL2aCZ(JXPKiKZ(fHZ(G(E^`dfh] dhabEHfHNZ]!d[US
&iKEHV hdJMEdhW!EHZ([jJXL`^kZ(G([KE `L`V
.),6" 7 5
5
JMLkP x1L)W& 0 0 5
.3 2) %$ 0
EHVgVXL`abd[AW!EH^zdfHfHNJXL`f<dW!L`S EHWMi
#" %$ '&%(%(*)+)-," d[KS ." %$ '&%(%(0/#1 2( .3 2) %$)-," 4 ." %$ '&%(%(*) &iKL5JMIKfHL`V
,~L`JXL
5
#" %$ '&%(%(0/#1 5
.),6" 4 78 5
& 2( VXL`aCE.#dIUW!ZaTdhWME^`dffcN ^`ZabPKEHfLkS d[KS abd[9IedfHfHN\W!IK[UL`S
&
IKVXE[KG5dbf<dJXG(Lj^kZ(ffHL`^)W!EZ[_Z] WML`JXabVL%W!JMd^kWML`S ]mJMZa WMiKLr^kZ(JMPKIUV iKEHV6PKJXZQ^kL`VXV1NQEHL`fHSKL`S6
^`ZabPRZ(VMEcW!EHZ([edf%JMIKfHL`V>< -):9 Z]RW!iKLka 2
LkJML X IKSKG(LkSbW!Z YRLdh^`^`IUJ!dhWML 9
YANCd abd[9IedfeEH[KVMPRL`^)W!EZ[
Z]~W!iKL dhJME<dh[9WMVW!iKL)N PUJMZ%SKIK^`LkS
iKEH^'i
6[
E[AW!LkJMLkVXW!EH[KG K( [KSKE[UG_Z]~W!iKEHV ~
Z(JtEHVW!iedhWjE[USKLQE[UG
E[K^kZ(JMPRZ(JMdhW!LkVPedhJ!dPKiUJ!dVXE[KGbE[U]mZ(JXaTdW!EZ[5VMEG[KE (e^`d[AW!fcN E[K^kJMLzdhVML`VW!iKLjL-qL`^)W!E L`[KLkVMV
&
Z]2E[U]mZ(JXaTdW!EZ[ JMLkWMJMEHLhdf & (dh^9IKL`aCE[ f<dhd[KVFdh[KS
kZ(I
LkJMabd[K[+ )
0
iKEHfL€W!iUL
aCLkW!iUZQSKZfZ(GN IUVML`S ]mZJ6JMIUfL ^`Z([KV|W!JXIK^kWMEZ([ N%ELkfSKLkS G(Z%ZQS_JMLkVMIKfcW!V]mZJW!iULrESKLk[AW!E (K^zdhWMEZ([ Z]
SKZ(abdEH[#VXPqLk^`E (K^7W!L`JXa PedJMdPKiKJMdVMLkV9W!iKLW!Lk^'iK[KE 9IKLkV2IKVXL`S/iKdL6[KZhWNLkW2YqLkL`[TL%W!L`[USKL`STWMZ
&
ZWMiKL`JW#N%PqLkV6Z] PKdJ!dPUiKJ!dVXE[KG iKL{ZY*%EHZ(IKVYedJMJXELkJWMZbVXIK^'i\d[_L%W!Lk[KVMEHZ([ ~
Z(IKfHS YRLjW!iUL
6
abd[9Iedf}L- Z(J|WE[ (Z(f.(LkS_EH[5YKIKEfHSKE[UGrW!iKLkVML JMIKfHL`V
4l42%/>21$-# 03E.
&iKL
`$-4 # (*/
abd(XZ(JXEHW#N Z]]mIKfHfHNwdIUWMZ(abdhW!EH^ dPUPKJMZAdh^'iKL`V5]mZ(JbPedJ!dhPKiKJ!dhVML LQWMJ!d^)W!EHZ([dhWMWML`aCPUWTWMZ
fL`dJM[Td[/LQWML`[KVXE LfEV|W2Zh] PedJMdPKiKJMdVMLkV2]mZ(J7djVMPRL`^`E.(e^6VXL`abd[AW!EH^6JMLkf<dhWMEZ([ y& x1IU^`f<dzNL (Z([
d[KS 2Z(fHfE[
* <
,d%E^'iedh[KSKJ!dh[
d[US Z&9N
&iKLkVML
0
abL)W!iKZ%SKV~L`JML SKL(L`fHZ(PRL`S
]mZ(J %IUL`VXWMEZ([ d [KV 2LkJMEH[KGiKLkJMLW!iUL1G(ZAdfREV~W!Z€JML)]mZ(JMa{IKf<dhWML6d,9IKLkVXWMEZ([/WMZ,(e[KS d[ d[KV 2LkJ
E[_W!iKLrSUZQ^kIKabLk[AWEH] EcW1EV6VXW'dW!L`S EH[ W!iUL€PedJ!dhPKiKJ!dhVML`S ]mZJMa
ZJ6LUdaCPKfHL } dh[\d[KV ~
L`J1WMZ
W!iUL 9IKLkVXW!EHZ([ 4 ) %,6) 2$ &%1 W!L%WdV %,6$
,4#) ) 2$ &%1
&i9IKV qVMIK^k^`LkVMVX]mIUf=L %W!JMd^kWMEZ([_Z]
W!iUEVd[KV 2LkJJML9IKEHJMLkVWMiKL 9 [KZfLkSKG(L€W!iedW EV6WMiKLCdIUWMiKZ(JZ]!
JMZhW!L &iKEV€W'dhV
iKLkJML/W!iULTG(ZAdhf~EHVjW!Z
(effOVMfHZW!V{E[
&
&
G(E^'iAWML`E[
d[ Lk[ QEHJMZ([UabLk[9W{fE L4W!iKL
EHVL9IKE hdfHL`[AW1WMZ d W!L`aCPKfdhW!LCJMLkPKJMLkVML`[AWME[KGtd PedhJXW!EH^`IKfdJJMLkf<dhWMEZ([
Z(J 2
L`d 9
fHN VMIKPRL`J QEHVMLkS
W'dhV9V dJML L`JXNVXEaCEfdJZ(JXEG(EH[edhWME[KG\]mJMZ(a
Z]OW!iULCVMdaCL{] d^kW
iedhVbd fHZW€E[ ^kZ(abaCZ([ EcW!i W!JMdSKEHWMEZ([Kdf2EH[U]mZ(JMabdhWMEZ([ L%W!JMd^kWMEZ([+
VMIUJMPKJXEVMEH[KG(fcN o W!iKLjIK[KVMIUPqLkJ %EVXL`S
]mIKJ|W!iKLkJ€SKLL`fZPqLkSwEH[
abd@N/YqL VXW!dhW!LkS E[ W!iUL
&
W!Lk^'iK[KE %IUL`VSKL(L`fHZ(PRL`S ]mZ(JYqZWMi
2JXE[+ ) €9< , EHfZ
dh[KS#"JMdhd[UZ
Z(JXfS ESKL
0
0
ZhW
-
&iKLkVML
d[KS Z([KLkV) 0
dh[KS
abL)W!iKZ%SKV,~Z(J YqLkVXW4EH[
L`Y+iUE^'i ^`Z[9W!dE[UV{[9IKaCL`JMZIKV L`JMYKdfE zdhWMEZ([KV
Z(J1EH[KVXW!d[K^kL !W iKL$"Z%Z(G(fL 9IKL`J|N ^`Z([UVMEV|W!EH[KG5Z]W!iKLrW%~Z5W!L`JXabV % %,$
,4#) €d[KS &'( ) 2$ &%1 {JMLkWMIKJM[UV)
)
jPedG(LkV?<KZ([UL2ZIKfS/LQPqLk^kWW!iKdhW7W!iUL
&
abd(XZ(JMEcW#N{Zh]RWMiKL`a (LkJMYedfHEkL7W!iKL%,)* 4% /JML`fdhW!EHZ([rYRLkW%~L`Lk[bW!iUL7W%2Z iKEV JXL`SKIK[USed[K^)N
EV7WMiKLaTdhE[ 9 [KZfLkSKG(LVMZ(IUJM^`L]mZ(J7WMiKL`VXLjaCLkWMiKZQSUV
iUEfL€WMiKL`VXL/abL)W!iKZ%SKV hdJXN\EH[tWMiKLTSKL)W'dEHfV WMiKLkNt^`d[ YRL %EL2LkS dVjE[KV|W'd[K^kL`V Z]
W!iUL VMdaCLiKEG(i # fL(Lkf dfGZ(JMEcW!iKa
) W!dJXWEcW!iwd VMLkL`S VXLkWCZ]W!IUPKfLkV 9 [KZ[wW!Z\V!dhWMEV|]BNlW!iUL JXL`fdhW!EHZ([ Z]E[AW!LkJMLkVXW & L G
6-)
=
%,6$
&
,LkWMJMEL(L
,4#) & 2$ &%1 ]mZ(J7W!iKLWMiKL %,6) 4% JMLkf<dhWMEZ([
0
0
VMLk[9WML`[K^kL`V6]mJXZ(a W!iULj^kZ(JMPKIUV^kZ([AW'dEH[KE[KG€WMIKPKfL aCL`arYRL`JXVdh[KS dfHVMZ4V!dW!EV|]BN
EH[KG VXZ(abLbZW!iUL`J{^kZ([KV|W!J!dhE[AW!V&m]mZ(J LUdaCPKfL d_PUJML`SUL(e[KLkS SKEV|W'd[K^kLTYRLkW%~L`Lk[ WMIKPKfHL
aCL`arYRL`JXV 0 }< L%W!JMd^kW]mJXZ(a Lzd^'i VXL`[AW!Lk[K^`LbdTPKfdIKVMEHYKfL (LkJMYedfHE`dhW!EHZ([ Z] WMiKL€JMLkf<dhWMEZ([
EH[ W!iKLj]mZ(JMa Z]dTWML`aCPKf<dhWMLjYAN dYKVXWMJ!d^)W!EH[KG/Z(LkJ1W!IKPKfHL hdfHIKL`V m& L G
EHV7W!iKL dIQW!iKZ(JZ] JMZWML 0
EHfHWML`J W!iKL2L%W!JMd^kWML`S€W!LkabPKfdhW!LkV B& ]mZ(JFLKdhabPKfHL h Y9NjW!iKLkEJ]mJML9IKLk[K^kN 0 d[US4dPKPKfcN WMiKL`a
WMZ WMiKLt^`Z(fHfL`^)W!EHZ([l<L%WMJ!d^)W aCZ(JML WMIKPKfHL`V
& L G &
, 4#)4 %"
$ %,3 ) 1 00
EHfHWML`J~WMiKLL%W!JMd^kWML`S W!IKPKfHL`Vd[KS JML)W!IKJX[ WMZ€W!iKLVMLk^`Z([US VXWML`P Z(J e( [KEHVMi
%W!Lk[KVME.(LLhdfIKdhW!EHZ([KV
Z([KL`V)<
,EfZ-\d[KS
Z]RW!iKLkVMLabL)W!iKZ%SKVOE[4EH[U]mZ(JMabdhWMEZ([rL%W!J!dh^kW!EHZ([
& 2JXE[+ ) 89<
6G(EH^'iAW!L`EH[
d[US "J!dhd[KZ
0
VXiKZ2LkS W!iedWWMiKL`VXL€dPKPKJXZAd^'iKLkV
PKJXZQSKIU^`LCd^`^kIKJ!dW!L4JMLkVMIKfcW!V1]mZ(JVXL(LkJ!df JXL`fdhW!EHZ([KV VMIK^'ildV -& %( %) ( $ :/ %) ( d[US %,
) 4% 2(%(*)
W!iKLrabd(XZ(JXEHW#N Z]OWMiKL`VXL€VXN%VXWML`aCV 2
LkJMLrW!LkVXWML`S\Z([ iedhW2L€^`dff "
Z2L(L`J
JML`fdhW!EHZ([KV
d[AN ZhW!iKLkJ€JML`fdhW!EHZ([
d W!IKPUfL5V!dW!EV|]BN%E[KG d SUZ(abEH[ed[AWrJXL`fdhW!EHZ([lW#N%PKE^`dffcNtSKZQLkV€[KZW€VMdhW!EHVX]BN
&iKL
JML`fdhW!EHZ([ EHV€d[ LUdaCPKfLTZ]d SKZ(aCE[ed[AW€JXL`fdhW!EHZ([
%,)* 4% iKLk[TW!iKL[edaCLZh]}W!iKL JMEcW!L`J FdhIKfIKVXWML`J €
dPKPRLzdJXV7dVOW!iUL6VMIUY X L`^)WZ] djVXL`[AW!Lk[K^`Ldh[KS
&
&
W!iUL€[KZ(L`f iKL L Z(J JMEfHZ(GN /
dhVEHW!V6Z(Y X L`^)W aCZ(VXWfHE hL`fHN_dL`JMYtZ]OW!iUEV1VXL`[AW!Lk[K^`L
&
(LkJMYedhfEkL`VFWMiKLJMLkf<dhWMEZ([jZ]qdIUWMiKZ(JMVXiKEP iKEHV=EVg[KZW=WMiKL^zdVXL7]mZ(JFabd[ANjJML`fdhW!EHZ([KVp]mZ(J=L*
daCPKfLEcW EV=iKdJMS€W!Z K( [KS€W%2Z^`Z[K^`LkPUW!V iKEH^'ibdhJMLPKJXEabdJMEHfHNJXL`f<dW!L`S€YANrWMiKL7JXL`f<dW!EZ[ 4 2) &iKLkJMLk]mZJML EHWEV [KZWg^`fHLzdJ iKZ
&
WMiKL`VXL2aCLkWMiKZQSUV EHffAPRL`JX]mZJMa ]mZ(J[KZ([ # SKZ(aCE[Kd[AW (L`JXYKV iKL
MY J€IQGEVEY\[ Y afLONAF-LfV]UWI>P-KlI 6 VEX%Y\K'Y7Y VEX%Ii[%KMUAP0F%Y^K'VEUAIQP <`P-K'SY G]UAP%R,LQGEY 7IQG]Y0NAU 7TUWVEY\[UWP K]HI>J7Y
6
W!Lk^'iK[KE %IUL`V7]mZ(J~PedJ!dhPKiKJ!dhVME[UG{L%WMJ!d^)W!EZ[2LkJML1WML`VXWML`S5Z([/]mLJMLkf<dhWMEZ([KVQabdEH[KfHN€Z[/SKZ(aCE.
[ed[AW2Z([KL`V
ZJ~LKdhabPKfHL
*& ,dQEH^'ied[KSUJ!d[5dh[KS
Z9N 0
fHLzdJX[KL`S/PKdJ!dPUiKJ!dVXL`V]mZ(J (L
JMLkf<dhWMEZ([UVAVMIU^'i5dV 3 #) % ) $ :/ %) ( 2
( #(*) 4:/ ( 2) ( d[US) 1 %" , 4
ZhWVMIKJXPKJMEHVME[UG(fHN q W!iUL`EJ6LhdfIKdhW!EHZ([ VMiUZ&~L`StW!iedWPqLkJX]mZ(JXaTdh[K^`L€Z([
1 %" ,47dhV VXEG
[KE.(e^zd[AWMfHN4fZ~L`JOW!iedh[/Z([bWMiKL6JXL`V|W7Z] JXL`fdhW!EHZ([KV _Z(JXL6L%WML`[KVXE (L1d[edfcNQVXEVZ]}VX^zdfdYKEHfEHW#N{Z]
W!iUL`VMLW!Lk^'iK[KE %IUL`ViedVN(L)WWMZC^kZ(aCL
"#$%# $-#/?(
&iKL6dPKPKJXZAd^'i
`3E/13 2%3)45.
:( &)#2i( ]$-4
#2i#
iKEH^'iTEHVWMiKL6^kfZ(VXL`VXWW!ZjZ(IKJ 2ZJ4EV~djaCLkWMiKZQS4]mZ(JPedJMdPKiKJMdVML6d^9IKEHVMEHWMEZ([
]mJMZa JMLkf<dhWML`S€[KLVdJXWME^`fHL`V
&
iKEH[9N(dabd1LkWdf *
0
&iKLG(Z(dfUZ]RW!iUEV ~Z(J {EVFWMZ
PedJMdPKiKJMdVMLkVZ] PedhWXW!LkJM[KV7IUVML`S5]mZ(J~W!iKL1EH[U]mZ(JXaTdhWMEZ([4LQWMJ!d^)W!EHZ([/W'dV
W!iUL/PedhWXW!L`JX[
2$2$ d[KS 4 2$2$ _W!iKL5V|NQV|W!Lka
3 1
ZJ2LUdaCPKfHL U GE (Lk[
dEHabV W!Z EH[KSKIK^kLTW!iKLTPedJ!dhPKiKJ!dhVML`V
&iKL4PedJMdPKiKJMdVMEH[KG
EHSKL`[AWMEH]BN
", dYKEHfEHW#N~Z(IKfHS dhffZ d[\EH[U]mZ(JMabdhWMEZ([
L%WMJ!d^)W!EZ[tV|N%VXW!Lka W!Z d^'iUELL4iKEG(i\dh^`^`IUJ!d^)N iKL`[tEHW1EV1PKJXZQEHSKL`S/EHWMi Z([KL€LQWMJ!d^)W!EHZ([
PedhWXW!LkJM[ d[US W!iKLbJML`V|W€Z]WMiKL`a dJXLTSKLkJME L`S WMiKJMZ(IUG(i PedJMdPKiKJMdVMEH[KG
E[K^kLTEH[U]mZ(JMabdhWMEZ([
L%WMJ!d^)W!EZ[tEHVd5SKZ(abdE[ SKL`PRL`[KSUL`[AWjdPKPKfHE^zdW!EZ[+qWMiKL4dIUWMiKZ(JMV1]mZ%^`IUVZ([\SKZ(abdE[ VXPqLk^`E.(e^
PedhWXW!LkJM[KV
&iUEVabL)W!iKZ%S\Z(PRL`J!dW!L`VZ (LkJ
d ^kZ(JMPKIUV VXEaCEfdJWMZ Z(IKJ[KLV ^`ZJMPKIKV
^kZ(ffHL`^kWMEZ([
Z]OdhJXW!EH^`fHL`VdYRZ(IUWW!iKLjV!daCLjL(Lk[9WPUIKYKfEHVMiKLkS EH[_W!iUL{V!dhabL SedzN EHWMi_W!iUL{Z([KfcN SKE -qL`JXL`[K^kL
YRL`E[UG_W!iKdhW{WMiKL`EHJrdJ|W!E^kfLkV{dJXLTVXL`fLk^kWML`S E[ld SKZ(abdEH[ Z]^'iUZ(E^kL
Z2L(L`J
W!iKL/PKdEJ EVML
^`ZabPedhJMEVXZ([ EHV1PqLkJX]mZ(JXabLkS Z([KfcN ZL`JVMLk[AW!L`[U^`L`V ^`Z[9W!dE[UE[KG/EH[U]mZ(JXaTdhWMEZ([ L%WMJ!d^)W!EZ[ PedhW
W!LkJM[KV><QVXIK^'iCVML`[AWML`[K^kL`V7dhJMLJMLk^`Z(G[KEkL`SbdIUW!ZaTdhWME^`dffcNIKVMEH[KG dabL)W!iKZ%S4SKL`VX^`JMEHYqLkS4E[
d[KS
L % EH[KL
-) 0
& IUSKZ
&iKL`[ QVXL`[AW!Lk[K^`LVMEaCEfdJMEcW#NEV ^kZ(abPUIUW!LkSCWMiKJMZ(IUG(ib[KdabLkS4L`[AW!EcW#N€Z (L`J
6
f<dhP+ 2
LkEG(iAW!LkS YAN WMiKL`EHJ VX^`Z(JXL`V
%" 2) 44 " #) 2(& Lk[9WML`[K^kL`VEcW!i VMEHabEHf<dJXEHW#N\LU^kL`LkSKE[KGldt^kL`J
W'dhE[ W!iUJML`VXiKZ(fHSldJXL€^`Z([UVMESUL`JMLkSlPedhJ!dPKiUJ!dVXL`V
&iKEHVabL)W!iKZ%S
)4#) N%EL`fHSKVPedJMdPKiKJMdVMLkVjVXIK^'i dhV
44 " #) 2(& (Lk[ W!iKZ(IUG(i
fEHabEcW!LkS EH[ VM^kZ(PqL W!iKL/LhdfIedW!EZ[ YedVXL`S Z([ WMiKL5aTdh[%IKdf~EH[KVMPRL`^)W!EHZ([ Z]PKJXZQSKIU^`L`S PedhEJMV
JML(L`dfLkS!9IKEHWML6VMIUJMPKJXEVMEH[KG JML`VXIKfHWMV
d- dEJXVSKZ(abdE[ d [KS
EHWMitd
W!iKLVXN%VXWML`a d^'iKEL(LkS 9 d^k^`IKJMd^kNCZ([5d PqLkJMVXZ([K[KLkf
&
9 Z([ dJMJXL`V|W{L(L`[AWMV iKEHV EHabPUJML`VXVME.(LCPqLkJX]mZ(JXaTd[U^`L4EV d^'iKEHLL`S
VXEaCPKfLrVXEaCEfdJMEcW#N5]mIK[K^kWMEZ([
Z(JMLkZ&L`JFEHW1Z([KfHN fZ%Z 9 VdhW[edaCL`StL`[AW!EcW!EHL`V+iUE^'i
JMLkPKJMLkVMLk[9W dCVMabdff ]mJMd^kWMEZ([_Z] VMLk[AW!L`[U^`L,~Z(JMSKV
SKLkPqLk[KSKV Z([ W!iKL€JXL`f<dW!EZ[ W!Z YRL€L%W!JMd^kWML`S
G(Lk[KL`JMdf'~Z(IKfHS YRL/SKZ(aCE[edh[9WjE[tW!iKEHV{^`dVML
LrdJXG(IKLjWMiedhWW!iKL{PqLkJX]mZ(JXaTd[U^`L iKEG(iUfHN
(Lk[lJXL`f<dW!EZ[KViKEH^'i
dhJML€[KZWSUZ(abEH[ed[AWEH[
ZJ{LUdaCPKfHL =
d_PqLkJMVMZ[ aTdzN ied(L/[9IKaCL`J
Z(IKVCJMLkf<dhWMEZ([UV EcW!i d[ Z(JXGAd[KE zdhWMEZ([ ZL`JTWMiKL WMEaCL ~
L G
W!iKL PRL`JMVXZ([ a{N YRL iKEJXL`SuWMZ
W!iULrZ(JMG(d[KE`dhW!EHZ([+oYRLrEHWMV6VMPRZ h L#PRL`JXVMZ([ Ki L€aTdzN VMIUL€EHWRLkWM^ < YKIUWaCZ(V|W1fE LkfHN_d[ dJ|W!EH^`fL
SKLkVM^`JXEYKEH[KG€d[5L(Lk[9WEH[5d{PRL`JMVXZ([K[KLkf d- dEJXV2SKZaTdEH[TSKLkVM^kJMEYRL`V2Z([KfHNbZ([KL6Z] W!iKEHV2JXL`f<dW!EZ[KV
d[KStW!iKEHVjJXL`fdhW!EHZ([#EHff YRLbSUZ(abEH[ed[AW YqL)W%2LkL`[ WMiKLTPRL`JXVMZ([ dh[KS WMiKLTZ(JXGAd[KE zdhWMEZ([\EH[ W!iUL
E[UPKIUW dJ|W!E^kfLkV
,
Z([KfcN{Z[KLJMLkf<dhWMEZ([
[ d5^`Z([AW!L%W{Z]2d5VMPRL`^kE (e^CLL`[AW W%2Z [edaCL`StL`[AWMEHW!EHL`VIKVXIedfHfHN V|W'd[US EH[
Z AEc]eW%2Z^kf<dIKVXL`VO^`Z[9W!dE[rWMiKLV!dhabL7[KdabLkS4L`[AW!EcW!ELkVAEcW=EVFV!dh]mL7WMZ
&
EH[U]mL`J
W!iKdhWOW!iKL)N(L`JXYedfHE`LWMiKLVMdaCLJXL`fdhW!EHZ([ iKEVO^zdh[bLUPUf<dEH[CWMiKLGAdPCE[4PqLkJX]mZ(JXaTdh[K^`LE[4W!iUL
PRL`JMVXZ([K[KLkfd-}dhEJMV6SKZ(abdE[\d[UStWMiKLCdJMJXL`VXW L(L`[AWMV{SKZ(abdEH[
6V
&
iKE[AN(daTd5L)W{dhf 0
[KZWML`S+9W!iUL1d(LkJ!dG(L6[%IUarYqLkJ~Zh] [edaCL`SbL`[AW!EcW!ELkV~EH[bWMiKL6fdhWMWML`JOSKZ(abdE[CEVOfHZ& % VMEHG([KE.(e^zd[AWMfHN
SKLk^`JML`dVMEH[KG4W!iKLPRL`JX]mZJMabd[K^`L
&iUEV4dPKPUJMZAd^'i OdV
,2Lkff2dVrYRZQZWMVXWMJ!dPKPUE[KG
dhPKPKJMZ(d^'iKL`VOLQPKfZEHW!V{JML`SUIK[KSed[U^kN EH[
W!iUL1SedhW!djW!ZjL%W!JMd^kW L`JXYedfE zdhWMEZ([UV iKEHfLW!iKL6YqZ%ZW!V|W!JMdPKPKEH[KGrdPUPKJMZAdh^'iKL`Vdh^'iKEL(L6WMiKL`EHJ
0 SUJ!dV5EHWMV
*"1X-UWP@'>L37L`Y VLQN  )98*8*4x[iY7P%Y^[TL`P7L97Y^[ Y P?VEUWV'eVEIed€YL0P-L97YI 6 Q
L P I>GER?LOP%U &^LOVEUAIQP.b) J€Y GK'I>P.)fNWIiH^LfVEUAIQP )
[%LOVEY3)-IQGMLTP?F T7 Y^GEUcH LQNxYZiJ%G]Y^K]K'UAIQP 
d^k^`IKJMd^kNuW!iKJXZ(IKG(i aCZ(JML ^`Z(aCPKfEH^zdhWML`SuaTd^'iUE[KLkJXN
&
iKE[AN(daTd L)W df 6
VXWMJMLk[KGW!i ]mJMZa ^zdJXLk]mIKfHfHNb^`Z(fHfLk^kW!LkS SedhW'd % [UZ&[ W!Z4SKLkVM^`JXEYRLW!iKLV!dhabLL(L`[AW
ff
W!iUL5dPKPKJXZAd^'iKLkVrSKLkVM^`JXEYRL`S EH[ WMiKEVjVML`^)W!EHZ([ dEHanW!Z L%W!J!dh^kWrPKdJ!dPUiKJ!dVXL`VrZh]d
G(E.(L`[4JXL`f<dW!EZ[
[4^kZ([AW!J!dhVXWAZIKJ abL)W!iKZ%S€EVF[KZWOfEHabEcW!LkSjW!ZdPedhJXW!EH^`IKfdJFPKdJ!dPUiKJ!dVXL7W#N%PqL
YKIUWJMdhW!iKLkJ 2
LdJMLdEHabEH[KG6WMZjLQWMJ!d^)W~d hdJXELkW#NrZ] PKdJ!dPUiKJ!dVXL`VO]mJMZ(a d ^kZ(JMPKIUV^kZ([AW'dEH[KE[UG
JMLkPqL`dhW!LkS EH[U]mZ(JXaTdhWMEZ([
Z(IKJdhfG(Z(JXEHWMiKa
')( '
%"
[\WMiKL€[KLQW VXL`^kWMEZ([ +2L4SKLkVM^`JXEYRL€E[ SKL)W'dEHfgWMiKL€^`Z(JXPKIKVIKVXL`StY9N
/
4 ) (*$ 1 " %( #() 4 0&
dJ
2) 3*
% 2" & )* 2(& ( )* %) ( %3 %1$ 4 2dE[
&iUL1VMIK^k^`LkVMVZ] Z(IKJ~dPKPKJXZAd^'i/EHV~^kZ([AW!E[UG(L`[AW~Z([bWMiKL1d hdEfdYKEHfEHW#N
Sed[AW E[\EH[KVXW!d[K^`LkVjZh] X [KdhW!IKJMdffcN # Z%^`^`IUJMJMEH[KG/PKdJ!dPUiKJ!dVXL`V
Z] dj^`ZJMPKIKV2dYKIK[
Z(J|W!IK[edW!L`fcN XV IK^'ilJXL`VMZIKJM^kL`V
dJXLTPKfHL`[AW!Ec]mIKf\G(E L`[lWMiKL/JMLkSKIK[KSKd[K^kNlZ]E[Q]mZ(JMabdhW!EHZ([\Z([lWMiKL ~
L`Y+ ~
L/^zdh[ LzdVXEfHN\^kZ(f.
fLk^kWOW!L%W!V iKE^'iC^`Z([AW!dE[CYedVXE^zdhffHN W!iULVMdabLEH[U]mZ(JXaTdhWMEZ([{SKL`VX^`JMEHYqLkSTEH[CSUE -qL`JMLk[AW~VXZ(IKJX^`L`V
2L)N(Z([KSuPedJMdffHL`f O
[UG(fEHVMi W!JMd[KVMfdhW!EHZ([KV€dh[KSu[ULVMPKdPqLkJTdhJXW!EH^`fHL`V€dYRZ(IUW€WMiKL V!daCL5LL`[AW
IKVXL`S E[ WMiKEV{WMiKL`VXEVZhW!iKLkJ€E[KV|W'd[K^kL`V€Z]VXIK^'i ^`Z(JXPqZ(JMd E[K^kfIKSUL/SKL(K[KEHWMEZ([KV{Z]W!iKL5VMdaCL
^`Z[K^`LkPUW€]mJMZ(a SKE.- LkJML`[AW€Lk[K^kN%^kfZ(PRL`SKEdV YUEZ(G(JMdPKiKEHL`VjZ]W!iKL5VMdaCL/PqLkJMVXZ([ ^`Z(aCPRZ(VMLkS Y9N
SKE.- LkJML`[AW JMEHWML`JXVrd[KSlSKE -qL`JXL`[AWrSKLkVM^kJMEPQW!EZ[KV{Z]d SKEVXLzdVXLb]mJXZ(a W!iKLbabLkSKE^`dfOfEHWML`JMdhW!IKJXL
[/W!iUEV2VXL`^)W!EZ[+~LIK[KSKLkJMfHE[KLW!iKL1PUJMZ(PRL`J|W!ELkV2Z] WMiKEVW#N%PqLZ] ^kZ(JMPUIKV iKEH^'i5E[U]mZ(JXabLkSTW!iUL
SKL(L`fHZ(PKaCL`[AWZ]gWMiKLjdfG(ZJMEHWMiKa ]mZ(JPedJMdPKiKJMdVML d^%IUEVMEcW!EHZ([
&
[ VMLk^kW!EHZ([
) ~L
W!iUL VXEkL Zh]gWMiKL^`Z(JXPKIKV 2
L IKVXL`S EH[ Z(IKJLQPRL`JXEaCL`[AW!Vd[KS aCLkW!iUZQSKV7]mZJEHW!V^kZ(ffHL`^)W!EZ[
7W
(eJXVXWG(f<d[U^`L UZ(IKJ^`Z(JXPKIKVVMLkL`aCV
JMLkVML`dJM^'iKLkJMV€EH[
&
SKLkW!dEf
0
9IKEcW!L VMEaCEfdJOW!Z4W!iKL PedJMdffHL`f ^kZ(JMPRZ(JMdCIKVXL`S_Y9N
<gE[lYRZWMil^zdhVML`V YedVXE^zdhffHN W!iKLbV!daCLT^kZ([AW!L`[AW€EHV{dhdEHf<dYKfHL€E[ VMLL`JMdf
6
&
f<dh[KG(IedGL`V iKL7abd(XZ(J SKEHVXWME[K^)W!EZ[jfHEL`VE[W!iUL2SKLkG(JMLkL7Z]eVXEaCEf<dhJMEHW#NYRLkW%~L`L`[4PedhJ!dfHfL`fAPKdJXWMV
Z]WMiKL/^`ZJMPKIKV
/
W€EV W!JMIULTW!iedWrLL`[ W!iKLTabZ(V|Wr^`dJML)]mIKf~WMJ!d[KVXf<dhWMEZ([t]mJMZ(a Z([UL/f<d[UG(IedG(L
W!Zwd[UZW!iKLkJ5aTdzN E[AW!JXZQSKIU^`L VMZabL SKE.(LkJMG(Lk[K^`LkV_EH[ abL`d[KE[UG
&
Z&~LL`JJML`VXLzdJX^'iKL`JXV
EH[
IKVMIKdffcN_VXL`fHL`^kWPKdJ!dfHfLkf WML%W!V iUL`JMLrWMiKL€^'ied[U^`L€Z]VMIU^'i SKE.(LkJMG(Lk[K^`LkVEV1aCE[KEHabE `LkS+
dV~E[bWMJ!d[UVMf<dW!EZ[KV~Zh] PedJXfE<dhabLk[9W!dJXNrPKJMZ%^`LkL`SKEH[KG(V & 7
d[edSKEd[ d[KVMdJMSKV 0 (Z J~ZW!iKLkJ2ZC^kE<df
SKZ%^`IKaCL`[AWMV=Z]o^`ZIK[AW!JMEHL`VEcW!ira{IKfHWMEPKfHLZb^kE<df%f<dh[KG(IedGL`V
& _d[K[KEH[KGd[KS VMIUG(G(L`V|WW!iedW7W!iKL[KdhW!IKJXL1Z] W!iUL`VML1WML%W!ViedhV7YqLkL`[ iKLkfPU]mIKfRW!Z
^'i%IQW ` L
&sJMLkVML`dJM^'iKLkJMV RVXE[K^kL
0
|W!iUL
SKLkaTd[USKVgZh]ed^k^`IKJMd^kN fL`dSW!iKLOW!JMd[KVXf<dhWMZ(JMV Z]QW!iKEHVVXZ(JXWgZ]UaTdhWML`JXE<dfW!ZIKVML (L`J|N ^`Z([KVXEV|W!L`[AW
fEcW!LkJ!dfoW!JMd[KVMfdhW!EHZ([KV
&iKLSKLkPqLk[KSKL`[U^`L{Zh]FL UEHVXWME[KG &vVXN%VXWML`aCVZ[
WMiKLd^k^`IKJMd^kN Z]W!iUL
W!JMd[KVXf<dhWMEZ([KVqVMLkL`aCV WMZYqL VXZV|W!JXZ([KG@W!iKdhW EHW}JMIKfHL`V Z(IUW IUVMLOZ]%abZJML | ]mJXL`L V|W#N%fL=W!JMd[KVXf<dhWMEZ([KV
dVjPedJ!dhffLkf W!L%W
W!iKLkVML5VMZIKJM^kL`V4dJXLTLzdhVMEfcN dhdEHf<dYUfL & XJ L`fHEG(EHZ(IKV d[KS fHEHW!LkJ!dJ|N 2
ZJ9V
dJXL{Z]BWML`[ ]mJXL`L`fcN ddhEf<dhYKfLE[_aTdh[9N fd[KG(IedhG(L`V
0 YKIUW6W!iKL)N_WML`[KS WMZTE[ Z(f L{arIK^'i fHL`VXV
fEcW!LkJ!dfoW!JMd[KVMfdhW!EHZ([+Qd[KS5iKLk[K^`LJXL`VMIUfHW!VdhJML1iedhJMSKLkJ7W!Z€^`ZabL1YAN
d[K[UE[KG4d[US
&
^'i%IQW ` L
0
L ^`d[K[KZWT^`Z([AWMJMZ(fPKJMZQEaCEHW#N E[ ZIKJT^kZ(JMPKIUVTW!ZtW!iKL VMdaCL_LQWML`[AWVMEH[K^`L_Z]BW!Lk[
PedJMdPKiKJMdVMLkVZ]~WMiKL4V!daCL€SedhW!d dJML€PKJXZQSUIK^`LkS YAN JXEHW!LkJMVE[USKL`PRL`[KSUL`[AW!fcN Z]~Lzd^'itZW!iUL`J
"E (Lk[tWMiKLCV!daCL4VML`abd[AW!EH^4E[KPKIQWSKE -qL`JXL`[AWrdhIUW!iKZJMV^`Z(aCPRZ(VML€W!L%W EHWMitWMiKL4V!daCLC^`Z(JXL
aCLzd[KEH[KGQYKIUWW!iULkN5abdzN y& dh[KS5SKZ 0 KS LkfL)W!LZ(JEH[KVMLkJXWE[Q]mZ(JMabdhW!EHZ([
Y %EHZ(IKVMfcN ~L^zd[
*
[KZhW
LQPRL`^)W W!iedhWgW%2ZV|W!Z(JXEL`VFdYRZ(IUW=WMiKL7V!dhabL~L(Lk[AW]mJXZ(a SKE -qL`JXL`[AW [KLVMPedhPqLkJMV 2
ZIKfSrPUJML`VXL`[AW
LUd^)W!fcN/W!iKLVMdaCLE[U]mZ(JXaTdW!EZ[
L`[
EH[/W!iKL^`dVMLZ]garIKfcW!EPUfLWMJ!d[UVMf<dW!EZ[KV7Z] W!iUL VMdaCL
fEcW!LkJ!dJ|N W!LQW iKLkJMLCW%2Z WMJ!d[UVMf<dW!Z(JXV V|W'dJ|W EcW!i\W!iKLbV!daCLCWML%W!IKdfOE[KPKIQW m& E[ d ]mZ(JXL`EG[
f<dh[KG(IedGL 0 AWMiKLSUEVM^kJMLkPed[K^)NTYRLkW%~L`Lk[5PedJ!dhffLkfePedJ|W!VEVIK[ed(Z(EHSedYKfHL [edfcN k E[KG arIKfcW!EHPKfL
W!JMd[KVXf<dhWMEZ([KV Z]WMiKLTfHEHW!LkJ!dJ|N W!LQWMV ^kJMEHWME^kV & L G
&
lLk^'iKVMfHL`J ) 89
00
iedL5Z(YKVMLkJ L`S W!iedW
P%NAY^K]KVEX-YMGEY^J7I>G'V]Y GK*H I37 7U VVEX-Y7K'Y^NWa>Y^KV]I>Y Y^J%UWP-R`V]X%YMNALQP%RQF7LORQY_I 6 VEX%YMKEIQF%GHY M
Y F%VEY GKY^SK 6 Y^Y^[)
SMX%UcHX 'K I*7TY VEU 7Y^KlX-LQJ%J7Y^P-K 
686
W!JMd[KVXf<dhWMEZ([KV M dJML [UL(LkJ ESKLk[9WME^`df dh[KSLzd^'iW!JMd[KVMfdhW!ZJ}^`JXLzdhWML`ViKEV}Z[ E[AW!LkJMPKJXLkW!dhW!EHZ([Z]
&
W!iUL=W!L%W iKLkJMLk]mZJML Z([KLO^`d[K[KZW [UL`G(fHL`^kW WMiKLOPKJMLkVMLk[K^`LZ]%VMIK^'ij[KZ(EHVML E[ZIKJ E[KPUIUW ^`ZJMPRZ(J!d
d[KS EcWrEV{^`JMIU^`E<dhf2W!Z h L`L`P W!iUEV€E[labEH[KS iKEfHL/SKLkVMEG[KE[KG d[wdfG(ZJMEHWMiKan]mZ(JrPKdJ!dPUiKJ!dVXL
L%WMJ!d^)W!EZ[
[KZWMiKL`J~SKEV|W!E[U^kW!EHZ([CYqL)W%2LkL`[
~Z(JMSKV1dJMLrEHSKL`[AWME^zdhfEH[
Z(IKJ^`Z(JXPKIKV2d[KS/PedhJ!dfHfL`f.
YRZW!i PedJXWMV1Z] WMiKL{^kZ(JMPKIUV
[
&
&
^`Z(JXPqZ(JMdjEHVWMiedhW~aTd[AN
q[KZ~Z(JMSUV & L Q^kL`PUW^kZ(G([edW!L`V 0
E[ WMiKL€VMZIKJM^kL€f<d[KGIedG(L€dhJMLrJXLkW'dhE[KLkS E[ W!iULrW'dJXG(LkWfd[KG(IKdG(L{WMJ!d[KVXf<dhWMEZ([<q]mZ(J1LUdabPUfL
d[
[KG(fHEVMi/WMJ!d[UVMf<dW!EZ[/Z]gd
aCL`[AW!V
JXL`[K^'i VMZIKJM^kL SUZQLkV[KZW^`Z[9W!dE[5IU[9WMJ!d[UVMf<dW!L`S
JMLk[K^'i ]mJ!dG
[ ^kZ([AW!J!dhVXW EH[ Z(IKJ6^`Z(JXPKIKV1W!iULrV!daCL ~
Z(JMS\EHV )#( IKVMLkS\E[ YRZW!i WMJ!d[UVMf<dW!EZ[KV
d[KSTZ([KfHNCVXZ(abL)W!EHabLkV2dJXL6EcW!V2PKdJ!dPUiKJ!dVXL`V7IUVML`S<UW!iKEHV2aCLzd[UV~W!iKdhW ~
Z(JMS %
PedJMdPKiKJMdVMLPedhEJMV
&
EfHfqiKdLfZ~L`J^`Z)#Z%^`^`IUJMJMLk[K^`LJMdhW!LkV7W!iedh[!2Z(JXS 9WMJ!d[KVXf<dhWMEZ([TPedEJXV2EH[
^`Z[KVMEHSKL`JZQ^k^`IKJXJML`[U^`L`VZh]=W!iKL 2
ZJMS X YRZ@N /
E[ W%2ZTWMJ!d[UVMf<dW!EZ[KVZ]
dhSedaCL 2ZhdJXN
5
_dJ *
(LkfE[UG V~W!J!dh[KVMfdhW!EHZ([Tdh[KS
^`IUJMJMLk[K^`LkVZh] X YRZ@N
Z]EHWMV1PedJMdPKiKJMdVMLkV
$&gL %WV7W!J!dh[KVMfdhW!EHZ([ &iUL
Z(J2LUdabPUfL
(eJMV|W2WML%W^`Z[9W!dE[UV iKEH^'i_^kZ(JMJXL`VMPRZ([KS5WMZ €94Z%^`^kIKJMJXL`[K^kL`VZ] XYRZ
N Cd[KS ) &
XVXZ([ |NZ(IK[KG5]mLkffZ 5dh[KS
|N(Z(IU[KG(VXWML`J 0
Z%^
Z%^`^kIKJMJXL`[K^kL`V
&iUEVEaCPKfHEL`VW!iKdhWL L`[
iKEHG(i5]mJML9IKLk[K^kN ]mZ(Jd2Z(JXS_EH[_Z[KLjPKdJXWZ]FdCPKdJ!dfHfLkf}^`Z(JXPKIKVSKZ%L`V[KZWG(IedJMd[AW!LkL{d4iKEGi
&
^`ZIK[AW6]mZ(JdPKPRLzdhJ!d[K^kL`VZ]=EcW!VPedJ!dhPKiKJ!dhVML`VE[_d[KZWMiKL`JPedJ|WZ]=W!iULj^kZ(JMPKIUV iKEV]mLzdW!IKJXL
Z] WMiKLr^`ZJMPKIKViKdabPRL`JXV6W!iULrPKJMZ%^`LkVMVZ]O^kZ(ffHL`^)W!E[UGTJMLkfEdYKfLV|W'dhWMEVXWME^kV6Z]PedJMdPKiKJMdVML{PedEJ
dPKPRLzdhJ!d[K^kL`V
[\W!iKL4PRZ(VMEcW!E.(L€VMEHSKL } WMiKL`VXLb[UZ([>WMJ!d[UVMf<dW!L`S ~
Z(JMSUV iKE^'i/2L4^`dff %(0/% 4 ^`d[
G(JXLzdhWMfHN\dVXVMEHVXWrEH[tWMiKLCaTdhWM^'iKE[UG_PKJXZQ^kL`VXV=VXE[K^kLbW!iULkNtJMLkSKIK^`LCW!iKLb[9IKarYRL`J Z]dfcW!L`JX[edhWME (L
abdPKPKEH[KG(VYRLkW%~L`L`[ VXL`[AW!Lk[K^`L{IK[KEHWMV
ZJLUdaCPKfLeG(E L`[_W%~ZTVXL`[AW!Lk[K^`LkV1Z]FfL`[UGW!i W!iKJXL`L
W!iUL`JML6dJMLVME CPqZVMVMEHYKfLZ([ > W!Z)#Z([KLabdPKPKEH[KG(VOYRLkW%~L`L`[/WMiKL`EHJ ~
Z(JXSKV Z&~LL`JKEH]qW!iKLkVMLW%~Z
&
VMLk[AW!L`[U^`L`VVMiedhJMLZ([KL ~
Z(JMS EH[ ^kZ(aCabZ([ Q
Z([UfHNTW%~ZCaTdPUPKE[KGV7dJXLPKf<dIUVMEYUfL iKLL C^`EHL`[AW
6
IKVXLjZ]W!iUEV^`ZJMPKIKV]mL`dhW!IKJXL^zd[ YqLk[KL(UW6d4PedJMdPKiKJMdVMLLQWMJ!d^)W!EHZ([ dfG(ZJMEHWMiKa
L SKL`VX^`JXEYRL YRL`fHZ d\abL)W!iKZ%S Z]PedJMdPKiKJMdVML L%WMJ!d^)W!EZ[+ iUE^'iwLQPKfZEHW!VrWMiKL`VXL
]mLzdW!IKJXL`VZ]gZ(IKJ^`Z(JXPKIKV
')(
/ 2)4 2 1
1
61
)/$1 7 /9 2 -
"E (Lk[ W!iKLtdh]mZ(JXL`aCL`[AW!EHZ([KLkSsSUE -qL`JMLk[K^`LkV YqL)W%2LkL`[
WMJ!d[KVXf<dhWMEZ([UVZ(IKJ aCLkW!iUZQS YKIUEfSUV5Z([
VMEHabEHf<dJXEHW#N E[ W!iUL/fZ%^zdf^`Z[9WML%WOJMdhW!iKLkJ{W!iKd[ Z([ G(fHZ(Yedf~dfEHG([KaCL`[AW
VMLk[AW!L`[U^`L`V6E[
6[US
EHG(IKJML
(e[KdffcN USKd
2Z([KVXESKLkJrW!iKLTW%~Z
kfE[UG(fHN
Ui EG(i dYRZ(LW!iKLka E[5WMiKLL`aCPUW#N
WdPKPRLzdJXL`SiKEHWMLd[KS Sed `fEH[KG€E[5WMiKLL`aCPUW#N [edfcN kE[KG
EHG(IKJML
iKEHWML eEcWVMiKZ([UL
JMdG(aCL`[AW!VZ]FdfHEG([KLkS5VMLk[9WML`[K^kL`V
W!iKL ^kZ([AW!LQWMV5VMIKJXJMZ(IU[KSKE[UG
>aTdhJLkS
YKfd[ 9 VTEH[ YqZhW!i VXL`[AW!Lk[K^`LkV
Z([KLbLQPRL`^kWMV{W!iKdhW{WMiKLkNtVMiUZ(IKfSlied(LTWMiKLTVMdabLCaCLzd[KEH[KGgYqLk^zdIKVXLTW!iULkNtied(LTWMiKLTVMdaCL
PKJXL`aCZQSKE.(eL`JXLkabPQW#N T
d[KS_JML`fdhW!LWMZbW!iULjVMdabL PKJXL`PRZ(VMEcW!EZ[ X EH[
VXW!d[KSKVb]mZ(J X VAN dh[KS W!iKL VML`^kZ([KS ]mZ(JXiKL`dL`[KV
~L
[_] d^)WeW!iKL e( JMV|W
W!iUL`[ W!iUL`VML/W%~Z PKiKJMdVMLkV4dJMLTfE hL`fcNtWMZ YRL/PedJMdPKiKJMdVMLkV
VMEaCEfdJrLk[KZ(IKG(i
&iKL5SKL e[KEcW!EZ[lZ]W!iUL/^`Z([AWML %W
(
[K^kL 2
L 9
[KZ iKE^'i ^kZ([AW!L%WMVdhJML1G(Z%Z%S
PedJMdPKiKJMdVMLPKJXL`SKEH^kWMZ(JMV2L ^zd[ LQWMJ!d^)W6PKdJ!dPUiKJ!dVXLPedhWMWML`JX[KV]mJMZ(a ZIKJ^`Z(JXPKIKV
UdaCPKfLkV~Zh]
"L`[KLkJ!dfHE `EH[KG\]mJMZ(apW!iUEVTLUdabPUfL iANQPRZWMiKL`VXE`L_W!iedhWTEH]1WMiKL ^kZ([AW!LQWMV5VMIKJXJMZ(IU[KSKE[UGlW%2Z PUiKJ!dVXL`V/fHZQZ
SKLkPqLk[KSKVZ([5iKZvVMEaCEfdJ W!iKLW!J!dh[KVMfdhW!EHZ([KV7dhJML
VMIK^'i X G(Z%ZQS ^kZ([AW!L%WMVdJML (LkJMY>Z(Y X Lk^kW7JXL`fdhW!EHZ([KVd[KSb[KZ(IK[>abZ%SKE.(eL`J
JMLkf<dhWMEZ([UV iUE^'i ~
L`JXL W!JMdSKEcW!EZ[edffcNtIKVMLkS E[ 2
Z(JXS VXEaCEf<dhJMEHW#NtW'dhV9Vb]mJXZ(ap[KZ([>PedJMdffHL`f
^`ZJMPRZ(J!d
&
&
gLkJMLkEJ!d EVXi9Y9N d[KS
L`L) *
< dhW k E hdVXVMEfHZ(G(fHZ(I d[KS _
^ 
L`Z[+ ) 0
689
Z~LL`JE[\Z(IUJ1^zdVXL aCZ(JML€EH[KSKEJXL`^)WJMLkf<dhWMEZ([KV^zd[tdfHVMZ5YRL4^`fIUL`V1]mZ(J1EHSKL`[AWMEH]BN%E[KG5PKdJ!d)
PKiKJMdVMEH[KGYqLk^zdIUVML ~
L 9
[KZ qW!iKdhWFEH[KPKIUWVXL`[AW!Lk[K^`LkV ^`Z([ (L)NW!iKL~V!daCLOE[U]mZ(JXaTdW!EZ[
Z(JLUdaCPKfHL E [ W!iULbVXL`[AW!Lk[K^`LkVj]mJMZa
EGIKJML
W!iUL L`JXYKV X JXE[KGE[KG/d[KS | VMZ(IK[USKE[KG
SKZC[KZWVMiKdJML ESKLk[AW!E^`df}VXIKY X L`^)W1[KZIK[KVoYKIQWWMiKLabZ%SKE (KL`JZ]FYqZWMi_VXIKY X Lk^kW!V
(Lk[KE[KG bEHV
ESUL`[AW!EH^zdf 7dh[#~Lb^kZ([K^kfIKSKL4W!iKdhW ESKLk[9WME^`df abZ%SKE.(eL`JXVZ]~WMiKLCVMIKY X Lk^kW{EaCPKfHN (LkJMY VXEaCE.
&
f<dhJMEHW#N Z dSUSKJMLkVMVjWMiKEV 9IKLkVXW!EHZ([+ 2
LC[KL`LkS d 7
dzN\W!Z ESKLk[AW!EH]BN ^`Z([AW!L%W!VjWMiedhW{dJML4G(Z%Z%S
PKJXL`SKEH^kW!ZJMVZ]gPedJ!dhPKiKJ!dhVML`VEH[_d4^`ZJMPKIKV
&Z
(e[KS
|G(ZQZ%S ^`Z([AW!L%W!V 2
L ^`d[d[edhfHN `
L dff^`Z([AWML%W!V5VXIKJMJXZ(IK[KSKEH[KG ESUL`[AW!EH^zdf
~Z(JMSKV€EH[lW!iUL5PedEJXV{Z]dfHEG([UL`SlVXL`[AW!Lk[K^`LkV2d[KS
&
IKVXL/W!iKLkVML5^`Z[9WML%W!V€WMZ fLzdhJM[ [KL PKdJ!d)
PKiKJMdVMLkV iKEHVPKJMZ%ESKLkV7W!iKL6YedVMEHV2]mZ(JdrYRZ%ZW!V|W!J!dhPKPKE[UGrabLk^'ied[KEHVMa
W!dJXWME[KG EcW!i5EHSKL`[
W!EH^zdf+~Z(JXSKV6EH[ dfHEG([UL`S VMLk[9WML`[K^kL`ViUE^'i ]mZ(JXa Z(IKJE[UEHW!Edf VXL`LkS Z] %(0/% 4~L{^`d[ fHLzdJX[
W!iUL | G(ZQZ%S
^kZ([AW!L%WMVd[KSwE[ WMIKJM[wIKVML5WMiKL`a
WMZtfHLzdJX[ [KL PKdJ!dPUiKJ!dVXL`V
&iKLkVML_[KL
PedJMdPKiKJMdVMLkVL%W!L`[US Z(IKJZ(JMEHG(E[Kdf VXLkWZ] d[U^'iKZ(JMV dh[KS dhJML IKVMLkS_W!ZbfL`dJM[ aCZ(JML^`Z[9WML%W!V
6[U^'iKZ(JMV4PKfdzNlW%~Z
JXZ(fLkVrE[ W!iUEVrPKJXZQ^kL`VXV e( JMV|WOW!iKL)N dJXL5IKVMLkSwWMZ fLzdhJM[ ^`Z([AWML%WCJMIKfHL`V?<
VMLk^`Z([US+d[K^'iKZ(JXV dJML€IKVXL`StE[\dPUPKfEH^zdhWMEZ([_Z]OW!iKLkVMLCJMIKfHL`V YRL`^`dIKVXL4WMiKL€JMIUfL`V^kZ([AW'dEH[ E[
]mZ(JXaTdhWMEZ([/dYqZIUWW!iKLL%IKdfEcW#N/Z] 2
Z(JXSKVE[ ^`Z[9WML%W
&
gLkZ(PKfHL VMdES iUL L`[KEH[KG Z(EVXLEVVMZIK[KSKEH[KGKW!iUL VXIK[ EVVML)WMWME[KG
iKLL(L`[UE[KGbYqLkff}EHVJME[UG(E[KG rPRL`ZPKfLIKVXL`S W!Z4V!dzN &
&iUEV/aCLkWMiKZQS
EHG(IKJML
Z]^`Z W!JMdE[KEH[KG
JMdG(aCL`[AW!VZ]FdfHEG([KLkS5VMLk[9WML`[K^kL`V
&
2fHIKa
d[KS _
EcW!^'iKLkff' ) 89
0
iedV/YRL`Lk[ PKJML%EZ(IKVXfHN
dPKPUfELkS W!Z d dhJMEL)W#N Z][edhWMIKJ!dhff<d[KGIedG(LTW!dV9V7VMIK^'i dV,~Z(JMSwVMLk[KVML_SKEVMdarYKEHG(IedhWMEZ([
&~dhJMZVAN )
0 qfHLQE^kZ([
^`Z[KVXWMJMIK^)W!EZ[ ]mZ(J6EH[U]mZ(JXaTdhWMEZ([ LQWMJ!d^)W!EHZ([
0 Fd[KS [edhabLkSlL`[AWMEHW#N ^`f<dhVMVME.(e^zdW!EZ[ & 2 Z(ffHE[KV d[KS
)
E[KGL`J7)
& ,EfHZ -td[KS
0
Z[KL`V
[ Z(IKJj^zdVXL =
W!iUL
6
^`Z)>W!JMdE[UE[KG4PKJXZQ^kL`VMV^`JXLzdhWML`V1dCYKE[KdJXN5^kf<dVXVME.(eL`J iUE^'i PKJXL`SKEH^kWMV iKL)W!iKLkJ1Z(J[KZW6dbGE (Lk[
PedEHJZ]gPKiKJ!dhVML`VEVd€PedhEJ7Z]FPedJMdPKiKJMdVMLkV
&
IKJCaCZQSKLkfEV4YedVXL`SuZ([wWMiKL_x 2Z gJMdE[udfGZ(JMEcW!iKa PKJMZPqZ(VXL`SuY9N
EH[KG(L`J ) 0 *iUE^'i
&
2Z(ffHE[KV4dh[KS
dPKPUfELkV2d ^`Z W!JMdE[KEH[KG PKJMZ%^`LkSKIKJMLW!Z{SUL`^`EHVMEHZ([TfHEVXW~^`fdVMVXE (eLkJMV]mZ(JW%~Z
E[USKL`PRL`[KSUL`[AW7VXLkW!V~Z] ]mL`dhW!IUJML`V
[TZ(IUJ~^`dVMLQZ([ULVXLkW7Zh] ]mLzdW!IKJXL`VSKL`VX^`JMEHYqLkV~WMiKLPKdJ!dPUiKJ!dVXL
PedEHJEHW!VXL`fc]qdh[KS d[UZW!iKLkJ6VXLkW1Zh]=]mLzdhWMIKJMLkV6^kZ(JMJXL`VMPRZ([KSUVW!Zb^`Z([AWML%W!V1EH[ iKEH^'i PedJMdPKiKJMdVMLkV
&
Z%^`^`IUJ iKL`VXL ]mL`dhW!IUJML`Vd[US WMiKL`EHJ^`Z(aCPKIUW!dhW!EHZ([ dJMLSKLkVM^kJMEYRL`S YRL`fZ
8#:
IKJPedJ!dhPKiKJ!dhVML]mLzdhWMIKJMLkV6E[U^`fIUSKLfLQEH^zdf d[US VXN%[AW'dh^kW!EH^jSUL`VM^kJMEHPUW!EHZ([KVZ]FWMiKLjPKdJ!dPUiKJ!dVXL
PedEHJ
&iKL
fLQE^zdhf2]mLzdhWMIKJML VXLkWC^`Z([UVMEV|W!VCZ]W!iKL VML9IKL`[K^kL Z]W!Z h L`[KV4]mZ(J€L`d^'i PKiUJ!dVXL_EH[
W!iUL1PedJMdPKiKJMdVML1PKdEJ><QW!iUL1VXN%[AW'd^)W!EH^6]mLzdhWMIKJML6VMLkW^kZ([KVXEVXWMV7Z]gd{VXL9IKL`[U^`LZ]PedJ|W # Zh] #VMPRL`Lk^'i
W'dhG(ViKL`JXL L9Iedhf ~
Z(JXSKV/d[US ~
Z(JMSUV EHWMiwWMiKL V!daCL JMZ%ZWbdJML abdJhL`S
W!iUL hdfHIKL€Z]~W!iKL4VXN%[AW'dh^kW!EH^€]mLzdhWMIKJML€]mZ(J1WMiKLbPKdEJ
EV& X x
&
Mx
&
0
&
|W!iUL
hdV|W ^'iKEaC[KLkN
iKL`JXLrE[KSUE^`LkV6EH[KSKE^`dhW!L ~Z(JMS
Z(J€LUdabPUfL
|WMiKL4^'iKEaC[KL)N 0
L9IedfEcW!EHL`V
L{YRL`fEHLL
W!iKdhW1W!iUEV]mL`dhW!IUJMLr^`d[ YqL{IKVML)]mIKfF]mZ(JW%2Z JML`dVMZ[KV e( JMV|W ~
L€LQPRL`^kWWMiedhW6VMZ(aCLrVXN%[AW'dh^kW!EH^
^zdW!L`GZ(JMEHL`VC^zd[u[KZWbYqL PedJMdPKiKJMdVMLkS YANud[KZWMiKL`JCVXN%[AW'd^)W!EH^ ^zdW!L`GZ(JXN
ZJCLUdabPUfL 2
d
SKL)W!L`JXabEH[KL`J EHV IK[KfHE LkfHN W!ZYRLdPedhJ!dPKiUJ!dVXLZh] d (LkJMY
^zdhPUW!IKJXLJMLkG(IKf<dhJMEHWMELkVFE[{PKiKJ!dhVMLfL(L`fUPedJ!dhPKiKJ!dhVME[UG
[€] d^)WAd1VXEaCEf<dhJgJXL`PKJXL`VMLk[AW'dhWMEZ([2dV
IKVXL`StY9N & (d^%IUL`aCE[+ 
f<dhd[KV d[KS
dVaCL`[AW!EHZ([KL`S dYRZ(L
&
`Z(I
L`JXaTdh[K[+)
0
W!Z5SKLkVM^`JXEYRL€W!L`JXa hdJMEdhW!EHZ([KV
&iULC^kZ([AW!L QWMIedf ]mLzdW!IKJXL€EVd5^`ZarYKE[KdhW!EHZ([
L`^kZ([KS+9W!iKEHV SKL`VX^`JXEPUWMEZ([4EVOdhYKfL2WMZ
Z]OW!iUL€fLk]BWd[KS\JMEHG(iAWfLUEH^`Z>VXN%[AW'd^)W!EH^
^`Z[9WML%W!V_VMIKJXJMZ(IU[KSKE[UG d^)W!Iedhf 9 [KZ[vPedJ!dhPKiKJ!dhVML`V
&iKLkJML
dhJMLtdw[9IKa{YqLkJ_Z]{^`Z([AWML%W
JMLkPKJMLkVMLk[9W!dhW!EHZ([KV7WMiedhW^`d[5YqL6^`Z([KVXESKLkJMLkS_dhV7PqZVMVMEHYKfL6^zd[KSUESedhWML`V fLQEH^zdfR[#GJ!daCV
&
[KG(JMdaCVFd[US€PedJMVXL~WMJML`L~]mJ!dG(aCL`[AWMV iUL7[edhWMIKJ!df%^'iKZ(EH^`L~EV=dPedJMVXL~WMJML`L7<9iKZ2L(L`J9LQEV|W!E[UG
PedJXVMLkJMVPqLkJX]mZ(JXa PRZQZ(JXfHNjE[4Z(IKJ SUZ(aTdhE[ FdJ|W > Z] #VXPqLkL`^'i4W'dG(VOPKJXZQEHSKL7W!iULJXL9IKEHJML`SCfL(Lkf
&
Z]}dYKVXWMJ!d^)W!EHZ([+%d[KSb^zd[bYqLd^`^kIKJ!dW!L`fcN€^`ZabPKIQW!L`SC]mZ(JOZ(IKJSedhW!d iKLfL)]BW&mJMEHG(iAW 0 `^ Z([AWML%W
EV d VML9IKLk[K^`LTZ]PedJ|W > Z] #VXPqLkL`^'i W!dG(V Z] ~
Z(JMSKVFZ%^`^kIKJMJXE[KG Z([ WMiKLCfLk]BW m& JMEGi9W 0 Z ]7W!iUL
PedJMdPKiKJMdVML
dJXLabdJhL`S
VE[
W!iUL€^zdVXL€Z]VXN%[AW'd^)W!E^4PedhJ!dPKiUJ!dVXLr]mLzdhWMIKJMLkV}W'dhG(VZ]ESKLk[AW!E^`df ~
Z(JXSKV
ZJLUdabPUfL *iKLk[
:/ " #) / (4 $ 0
&
&
$ *
) & 0 ]mJMZ(a
6& .) ) EHG(IKJML /
VXL`[AW!Lk[K^`LkV{EHV $ *
)
0 '& )
, & '& )
0
W!iKLPedJ!dhPKiKJ!dhVMLPedEJ
&
& .) ) 0 / (*) ) , [ WMiKLr[KL%WVMLk^kW!EHZ([+ ~
L€SKLkVM^`JXEYRLriKZ W!iKLr^kf<dVXVME.(eL`JXV6]mZ(J6^kZ([AW!LQWMIedf dh[KS
PedJMdPKiKJMdVMEH[KG€]mLzdhWMIKJMLkVdJML^`Z)>W!JMdE[UL`S
AW!iUL6^`Z[9WML%W!IKdfR]mL`dhW!IUJML]mZ(J
4 4 6$
$
IKJ^`Z W!JMdE[KEH[KG5dfHG(Z(JXEHW!iUa iKdVW!iKJXL`LCVMIKYKJXZ(IUWME[KLkVE[KEcW!EdfE zdhWMEZ([+KWMJ!dEH[KE[UG5Z]~WMiKL4^`Z([
W!L%W!Iedf ^kf<dVXVME.(eL`Jd[KS5WMJ!dEH[KE[KG€Zh]gWMiKLPedJ!dhPKiKJ!dhVME[UGC^kf<dVXVME.(eL`JXV
>.`3)2%3)#&'3x#*2%3'45. lZJMSKV iKE^'ildPKPRLzdJ E[tYqZhW!ilVXL`[AW!Lk[K^`LkV€Z]d[ldfEHG([KLkStPKdEJ dJXL
IKVXL`S WMZ ^`JML`dhW!L4W!iULCEH[KEHWME<df X VXL`L`S
JMIUfL`V
VMEH[KG W!iKL4E[UEHW!EdfVMLkW Z]7d[K^'iKZJMV ~
Lb^kJMLzdW!LCd
VML)W{Zh]7PRZ(VMEcW!E L€PedJMdPKiKJMdVMEH[KG_LUdabPUfL`V VMIK^'i dhV ) ' ) Z2L(L`J
W!JMdE[UE[KG5Z]~W!iKLC^`fdVMVXE (eLkJSKL`abd[KSKV [KLkGAdhW!E.(LCLUdaCPKfLkV dV ~
L`fHf]<E[tZ(IKJ^zdhVMLTEcWJML%IUEJMLkV
&
PedEHJMVZ] 2
Z(JXSKVE[ dfEHG([KLkS VXL`[AW!Lk[K^`LkViKEH^'i dJXLj[KZhWPKdJ!dPUiKJ!dVXL`VZ]=L`d^'i ZhW!iKLkJ Z e
( [KS
[KLkGAdhW!E.(LLUdaCPKfLkV*2L1abdhWM^'iTW!iKL6d[K^'iKZJMV7EH[bW!iUL1dfHEG([KaCL`[AWdG(dE[KV|W7dhffoSKE -qL`JXL`[AW ~
Z(JXSKV
E[\W!iUL/dfHEG([KLkS VXL`[AW!Lk[K^`L aTd % EH[KG W!iKLTdVMVXIKabPQW!EZ[tWMiedhW %(0/% 4T^zdh[labdhW!^'i Z([KfHN\L`d^'i
ZWMiKL`Jgdh[KS [UZW d[AN ZWMiKL`J ~
Z(JMStE[ W!iULbdhfEG[KL`S VXL`[AW!Lk[K^`LkV
Z(J1LUdabPUfL .) 5]mJMZ(a
: IV]X%Y d€Y^K'VI 6 IQF%G 1P%IfSMNAY^[iR>Y LONANxYZiUAK'VEUAP%RK'V]LOVEUcK)V]UAH^LONxJ-LQG]KEY GKlLOG]Y0V]G]LQUWP-Y^[ IQP I>GK'U 7UWNcLOGlV'1J€Y
I 6 HIQG]J€IQGL  PVEX%Y YZiJ€Y G]UC7Y^P>VK5SY0H IQP-[%F-H V]Y^[)?VEX-Y UAGJ€Y G 6 IQG!7LOP-H Y0KEUWR>P%U 7H LQP>V]NC'[iY^RQGLQ[iY\[IQPL,J€IQGEVEUAIQP
I 6 IQF-GlH IQG]J%F-K! NAUWVEY GLOG!'VEY Z1V]K 
)
W!iUL e( JXVXWVMLk[9WML`[K^kL{EH[
EHG(IKJXL
4SKZ%L`V[KZW^`ZJMJMLkVMPRZ([KS
W!Zbd[AN ZW!iKLkJ 2
Z(JXS EH[ WMiKLjVXL`^kZ([KS
7dhVML`SwZ([ W!iUEVrZ(YUVML`J hdhW!EHZ([+ 2L
) "" d[KS# ) VMLk[AW!L`[U^`L YKIUW . ) ^`d[ SKL`JXE (L5[UL`GAdhWME L5LUdaCPKfLkV
VMIU^'i dV / (4 $ "E (Lk[ d PedEJ
Z] EHSKL`[AW!EH^zdf ~
Z(JMSKV7]mJXZ(a W%2Z€VXL`[AW!Lk[K^`LkVZh] fL`[UGW!i d[KS U
WMiKLdfHG(Z(JXEHW!iUa PKJMZ%SKIK^kL`VZ([UL
PRZ(VMEcW!E LLUdaCPKfLdh[KS
+3E.`3E.
4
&
) 0 K[ L`GAdW!E LLUdaCPKfLkV 2 845._2 l2 /1/13 VMEH[KG W!iKLkVMLtE[KEcW!EdfVXL`LkS JMIUfL`V ~ L
&
) 0
JMLk^`Z(JXS ^`Z[9WML%W!VrdJMZ(IU[KSlPRZ(VMEcW!E.(LCd[KS [UL`GAdhWME LbPedhJ!dPKiUJ!dVXE[KG LUdaCPKfLkV
JMZ(andff W!iUL
L%WMJ!d^)W!L`Su^`Z([AWML%W!V 2
L arIKV|W4ESKLk[AW!EH]BN W!iKL Z([KLkViKE^'iudJML V|W!JMZ[KG\PKJMLkSKE^)W!Z(JXVCZh]WMiKL`EHJ
^zdW!L`GZ(JXN
ZffZEH[KG& 2Z(ffHE[KVdh[KS
W!iUL ^`Z[9WML%W d[US EHWMVC]mJXL9IKL`[U^kN
^`ZIK[AW & 0 ^`Z(IK[AW&
E[KGL`J) &iKL
0 iUL`JMLT^`Z(IK[AW &
0 +(efHWML`JMEH[KG/EHVYedVMLkS
PRZ(VMEcW!E.(L VXW!JXL`[KGhW!i Z]dl^`Z([AWML%WEVCSKL(e[KL`SdhV
0
EV W!iKLT[%IUarYqLkJ{Z]WMEaCL`Vj^`Z([AW!L%WwVMIKJXJMZ(IK[USKV
PRZ(VMEcW!E LLUdaCPKfLkV & eP dhJ!dPKiUJ!dVXL PKdEJXV 0 d [KS ^`ZIK[AW(&
&iKL[KL`GAdW!E L6V|W!JMLk[KGWMi/Z] d
Z[tWMiKL€VXWMJML`[UGW!itZ]
0
EHV7W!iKL]mJML9IKL`[K^)N Z]gWMiKL^`Z([AWML%W
^`Z([AW!L%WEVSKL(K[KL`S5EH[/djV|N%abaCLkWMJME^abd[K[KLkJ
Z(JOLzdh^'i5Z]}W!iUL
PRZ(VMEcW!E L d[KSW!iUL [KL`GAdW!E L ^zdhWML`G(ZJMELkV+2LOVXL`fLk^kW W!iULJXIKfLkV!&m]mZ(J}PKdJ!daCLkWML`J LkVXW!EHaTdW!EZ[+zVMLkL
0 EHWMi
WMiKLiKEHG(iKL`V|W]mJML9IKLk[K^kN dh[KS_V|W!JXL`[KGWMi_iUEG(iKLkJ2W!iKd[ WMiKLPKJMLkSKL(K[KL`S W!iKJXL`VMiUZ(fS
UdabPUfL`VZ]gVMLkfLk^kW!LkS_^kZ([AW!LQWJMIUfL`VdJXLVMiKZ[_E[ EGIKJML
PKdJ!daCLkWML`JrZh]WMiKL5^`Z[9WML%W!IKdf7^`fdVMVXE (eLkJrEV{aTd)QEHaTdf^`Z[9WML%W4fLk[KGWMi
&
L5Z(Y
VMLkJ L`S W!iedhW~]mZ(J7VXZ(abLJMIKfHL`VdjVMiKZ(J|W!LkJ^`Z([AW!L%W 2
Z(J9VYqL)WMW!LkJ iKLkJML)]mZ(JMLiKL`[ JXL`^`ZJMSKEH[KG
^`Z[9WML%W!VgdJXZ(IK[KS PqZVMEHWME LOd[KS [KL`GAdW!E LOLUdaCPKfLkV2LJMLk^`Z(JXS{dhffWMiKLO^`Z([AW!L%W!V EHW!ifHL`[KGWMi
fLkVMVW!iKd[_ZJL9Iedf}WMZ4WMiKLaTd&UEHaTdhf fLk[KGWMi
~L`^zdhIKVMLCZ(IKJ6WMJ!d[UVMf<dW!EZ[ ^`ZJMPKIKV^kZ([KVMEHVXWMVZ]VMLL`JMdf YqZ%Z 9 V ^kJML`dhW!LkStYAN SUE -qL`JMLk[AW
W!JMd[KVXf<dhWMZ(JMV ~
L{LQPqLk^kW6WMiedhWW!iKLjVMEHabEHf<dJXEHW#NCYqL)W%2LkL`[ W!JMd[KVXf<dhWMEZ([KV hdJXELkV]mJXZ(a Z([KL YqZ%Z
&
W!Z1d[KZWMiKL`J iKEHVFEaCPKfHEL`V}WMiedhWF^`Z([AW!L%W!IedfQJMIKfHL`VgVMiKZ(IUfSrYRL2VXPqLk^`E (K^2W!ZdPedJ|W!E^kIKf<dhJgPedhEJ Z]
&
W!JMd[KVXf<dhWMEZ([KV iKLkJML)]mZ(JML~LW!JMdE[4W!iUL^kZ([AW!L%WMIedfR^`f<dhVMVME.(eL`JO]mZ(JOLzdh^'i/PedEHJZh] W!JMd[KVXf<dhWMEZ([KV
VMLkPedJMdhW!LkfHN
lLbSKZ [KZhW{PRL`J|]mZ(JMa VMIU^'i d VMLkPedJ!dW!EZ["iKLk[ 2
L/L%W!J!dh^kW€PedhJ!dPKiUJ!dVXL`Vj]mZJ
[KLV dJXWME^`fHL`V7YqLk^zdIUVML Z(IUJT^`ZabPedhJ!dYKfHL_^kZ(JMPUIKV/SKZ%L`V/[UZW/EH[K^`fHIKSKL E[U]mZ(JXaTdW!EZ[udhYqZ(IQW
JMEcW!LkJESKLk[9WMEHWMEL`V $ *
$ *
$ *
$ *
$ *
$ *
$ *
$ *
EHG(IKJXL
)
)
)
)
)
)
&
&
&
&
&
&
&
)
&
)
,
& &
0
0
0
KdhabPKfHLZ]=^kZ([AW!LQWJXIKfLkVL%W!J!dh^kW!LkS
,
'& ) 5&, 0
0 '& ) 5&, 0
0 '& )
& 0
0 '& ) & 0
'& )
5& 0
'& ) 5& 0
0 '& )
5& 0
0 '& ) <& 0
YAN/WMiKL dfG(ZJMEHWMiKa
2Z([AW!L%W_JXIKfLkV5L%W!JMd^kWML`SsE[ W!iUL
PKJXL%EZ(IUV VXW'dhG(LdJML=WMiKL`[ dPKPUfELkS1W!ZW!iUL ^`Z(JXPKIKV W!ZSKLkJME.(Ld[KLlVMLkW Zh]UPedhEJMV Z]UPRZ(VXEHW!E.(L dh[KS
[KLkGAdhW!E.(LPedJ!dhPKiKJ!dhVME[UG{LUdaCPKfHL`V 6PKPKfHE^`dhW!EHZ([KVOZ]}WMiKL6JXIKfLdJMLPqLkJX]mZ(JXabLkSTYANbVMLzdhJM^'iKEH[KG
VMLk[AW!L`[U^`LPedEJXVF]mZ(J=VXIKYKVXL9IKL`[U^`L`V iKE^'i4abdhW!^'irWMiKLfL)]BWOd[KS4JMEHG(iAW PedJ|W!V=Zh]qWMiKL^`Z([AWML%W!Iedhf
JMIUfL U d[KS dJXL1fLkVMV7W!iKd[
VMLk[AW!L`[U^`L`V E[
&
EG(IUJML
:/ " #) / (4 $ 0
~L`JML4VXL`PedJMdhW!LkS
W!Z h L`[KVdPKdJXW
Z(J7LUdaCPKfHL K dhPKPKfHN%EH[KG{W!iUL e( JMV|WJMIKfHL]mJMZa W!iUL
WMZ VMLk[AW!L`[U^`L`V ]mJMZa
N%ELkfSKVbW!iKL PKdJ!dPUiKJ!dVXE[KGlPedEJ
ZWMLWMiedhW7EH[bWMiKL6Z(JXEG(EH[edfKVXL`LkS5VMLkWQWMiKL1fL)]BW~d[KS/JXEG(iAW~^`Z([AW!L%W!V
YAN Z[KLrW!Z h L`[
&iKEVPedhJ!daCLkWML`J
dfHfZV7IKVW!Z4L%WMJ!d^)Wa{IKfHWME. ~Z(JXS5PedJ!dhPKiKJ!dhVML`V
EG(IKJXL
& iUL`[tVMLkWWMZ
YqL€G(JXLzdhWML`J1WMied[\Z([KL
Z(JLzdh^'i L%W!JMd^kWML`S LKdhabPKfHL R PedJMdPKiKJMdVMEH[KGTJXIKfLkV6dJXL{JXL`^`ZJMSKLkS d[KS K( fHW!LkJMLkS E[ d
VMEHabEHf<dJabd[K[KLkJdV1^kZ([AW!L%WMIedf JMIUfL`V
JMIUfL`V2dJMLVMiKZ[ E[
EGIKJML
d[KS/EH[
UdaCPKfLkVZ]fLQEH^zdfFd[KS
EHG(IKJML
VXN%[AW'dh^kW!EH^4PedJ!dhPKiKJ!dhVME[UG
]BW!L`J~L%W!JMd^kWML`S
fLQE^zdhfqdh[KS/VXN%[AW'dh^kW!EH^
PedJMdPKiKJMdVMLkV5dJXL dPUPKfEHL`S W!ZlWMiKL ^kZ(JMPKIUV7W!iUL ^`Z[9WML%W!IKdf6^kf<dVXVME (KL`JCEVCJMLkWMJ!dEH[KL`S
L
0
PedJMdPKiKJMdVMLkV1[KZWZ([KfcN dSKS aCZ(JXL PRZ(VXEHW!E.(Ljd[KS [UL`GAdhWME LjEH[KVXW!d[K^`LkV6]mZ(JW!JMdE[KEH[KG€W!iKLj^`Z([
W!L%W!Iedfg^`fdVMVXE (eLkJ}YKIQWdfVXZTJXL%EVXL€^`Z([AW!L%W!IedfFJMIKfHL`V]mZJ 9 [KZ[\E[KV|W'd[K^kL`VYedhVML`S Z[ [KL
PedJMdPKiKJMdVMLEH[U]mZ(JMabdhWMEZ([
&iUL
EcW!LkJ!dhWME (L6PKJMZ%^`LkVMVEV2WML`JXabEH[edhW!LkS!iKL`[ [KZ€[KL PRZ(VMEcW!E.(L1PedhJ!dPKiUJ!dVXL`VdJMLSUEV ^`ZL`JMLkS Z(J7WMiKL[%IUarYqLkJZ]FEcW!LkJ!dhWMEZ([KV2LQ^`LkL`SKV6d4PUJML`SUL(e[KLkS W!iUJML`VXiKZ(fHS
&
W!Z &
x
0
0
&
0
#$%&*$)+
&,
0
-,")")) ./0$)12
&
&
0
,
!"
#$%&'#($)
&
0
!
&
0
&
&
0
/0$)123-,")")) .
0
14$)3$65)50$%7$8/9
&
0
$85)5:0$+%
L _ZJMPKiKZ) N%[AW'd^)W!EH^ PKdhWMWML`JM[UVbLQWMJ!d^)W!LkS YAN W!iKL_dfHG(Z(JMEcW!iKa
EHG(IKJM
SKLk[KZW!LWMZ Lk[ L9IKE.hdfLk[K^`LeIKPKPRL`JE[KSUE^`LkVSKL`[UZW!L JMZ%ZWL%IUE hdfLk[K^`L ;
Z]W!iKL dfHG(Z(JXEHW!iUa
Z~L`JCE[KSKEH^`LkV
dC[9IKarYRL`J6Zh]2ZJMSKV1VXIKJMJXZ(IK[KSUE[KGTdCW'dhJMG(L)W
^`Z[KVMEHSKL`JXL`S Y9N5WMiKL^`Z([AWML%W!Iedhf^kf<dVXVME.(eL`JdVEcW!V^`Z[9WML%W
" 2( 2" %$ >= ,#(0/#1 / (*) ), %$ ,$ <
~Z(JMS
&iKLkJMLdJXL6LkEG(iAW7PKdJ!daCLkWML`JXVWMiedhW7^`d[/YRL1VML)W2WMZ€dS XIKV|W2WMiKL6PRL`J|]mZ(JMabd[K^kL
" 2" %$ $ #(&%) ) / (*) )
<
d4[%IUarYqLkJ6Z]gW!EHabLkVdC^`Z([AWML%W!Iedhf
<
JXIKfLiedhVWMZCdPKPRLzdJW!Z4YRL^`Z([KVXESKLkJMLkS ]mZ(JPKdJ!dPUiKJ!dVXLL%W!JMd^kWMEZ([
" 2( 2" %$ % /#) @? / (*) ), %$ ,$ d4WMiKJMLkVMiKZ(fHS Z([_PUJML`SUE^kWME L
PRZ2LkJ5Z]jd ^kZ([AW!LQWMIedf1JXIKfLA1W!iKL PUJML`SUE^kWME L PqZ~L`J EV/SUL(e[KLkS W!Z YqL d [9IKa{YqLkJ
" .) 34 ) "
) ! @45);" )
45) "
) '
4) "
(45)" ,) 45)" 7 .) 6 !7A4 )" ) ?45) "
3) 45)" 2)
" ) 45)" *) 45)" ) 24 )" ) 45)." C ,)
!4 )."
) 34 ) " !'
3)
?45) " )
@45) "
) 7
4) "
.)
45);" *) !7 45) "
)
45);"
) 97 *7
" ,)
4 )>" ' 7 *)
45)"
,) ?45) "
)
?45)"
45) " !'3) (45);" '*)
4 )" .) 45);" 6 *)
6 24 )=" )
" .)
45) " 2) 7 45)" *7
'3)
C' 37
45) "
)
4 ) " *) 245)" 6 ) 6 6 45)" *) 24 ) "
'
7 7 )
' 7 7 ?4 )." .)
45)." 7 )
'45) "
.) 7
"
'*)
!4 ) " ,) 37 ?45) " *7 )
4) "
)
45)"
?45) "
)
4 )"
) =45) " ) 24 ) " C7 *)9' !4 )@" )97
" )
45) "
) (' 45) "
)
!4 ) " *7 )
?45)"
!4 )"
7 ,)
4 ) " ,) ('45)" .) !'45)="
(' 4 ) " 7
,)
6 37 '3) 7 45) " )
6
" 3 )
?45) " 37
,)
C7 ?45) " 7 .) 6 545) " 3
/
!4 )" ,) ?45)" )
45)" *)97
545)"
.) @45) "
45)"
.) 7
@45)" )
45)" ) " ) 45) "
*)
@45) " 3 ) 245) " 37 7
3) ?4 ) "
)
!4 ) "
)7
4 )." ,) ?45)."
) @45) "
& ?45) "
,)
45) "
)
C& 45) " 37 3)
24 ) " 7
7 24 ) " ,) * ?45)." *)
45) "
)
4
)
(
*( !
1 ( "2
)
"
#
*0
*3%
0"
+
(
".(" 4
(
* 5'6
"#$! %&'(
(
$.
*-".
0(! '3 !
*
( 45)
/ 0*&!
)
*
"7#
1
$.! (!
(
(00#! !
"&' <"
<
6
<
3
)
3(*
!
/!
"
)
<
"("
)
"
( =$
)
( ( $"(!
)
,0 (*M0(
4)
*)
?45)
,)
45)
,)
)
45)
3)
*)
0
#
0#
<0 0"
(
"#"
)
" H
*#
C."
'
)
)
L@:
" <"M' N*
"
'
K/
)
<0
5
"
O(K"800"&
)
245)
)
245)
89
)
)
)
)
6:'
;20! 6
(0#
;*!
<=
<
)
)
* >0"
. ? + >1
*0" >.
"( >
(* "2
*
)
)
(@.(
6!
*" 6
'A
0" 6
B3
'&' 6'
"
)
)
C:'!
;"
='
+0!%
(
<03'!
(;
)
)
)
)
1
$ ('
1
$
D$&
7
*
( (
*" +
)
)
< E#! F* G < E#
0 "#4
$
= F*'/
"0'
= (
)
0# (&'0"!
( (
<
H
< '
@.
)
)
*
0#
( ''#"
:6
'I ;
'I
1" '1"
, <
!'&
J
(*3
<(
"/!
)
0"!
!
,! (
='."
*#
(
=
$"
<"
0 !9
.$'
'@.
"3 1!$
)
"3 #"3
)
(
*&
P3'
<
0 Q#'
"(! ("
)
)
)
)
"
=.("
(" R(
(
>
$1
0#
@.
0#
0
(* 5.!
)
TSUPVW!X ZY
0
0#
X
#". N
":*0
)
)
&
( )
b W!\[ b XcedNf
SR[\]:^_\W!\^`W!\a!X(aGX C
)
*
< P"9"
)
<
)
b `Xg\]UPhPWS b `
ikjKWhPi
b `X
)
b W@\la]H\ b SRhPlm[hPW
^Va(n
hjo[(hPl b X'p b V_\]qWV]RX9hC[[V
W!W!X(l[X(aga!VWW!hPVl
cSRlUm^JhPaS b S
Xr^_\W!\^`W!\a!X(ascS
ScXctd5fuS b a
b h b \]JjKW!XvNVX(l[(f
" 2( 2" %$ %>= ,#(0/#1
$ / %$ ,6$ <
`_\#a
b hwdJXgXp b W@\[ b Xcud5f
\wlNViLdOXWGhj
b `Xg^OhPa!S b SyPXB[hl b Xp b V\]>[]H\#a!a!Sz_XW
" 2( 2" %$ /#) @? $ / %$ ,6$ <
^Oh}+X(W-h#jT\~]Xp6SR[\]WV]RX
A
<
iLdJX(WGhj
b SRi?Xa=S b
\
b `Xg^WXcS[ b SyPXB^Oh}+X(WGSRa=cXz_lXc
\?^_\SRWGhjT^`W!\a!X(a4}+\aX'p b W@\[ b X(c€dNf
b `XglCV
b SixX(a=\?^\SRW<h#jq^`W!\a!X(a
b `W!X(a!`hP]c{hl|^
b hwdOXg\~lCV
W!Xc
SR[ b SyX
iLdJX(W=hj
b SRi?Xa
b `Xr^OhPaS b SyPXg[hl b Xp b V\]T[(]H\aa!SzXWGcSyCScXcudNf
SRa=X'p b W@\[ b X(cd5f‚^Jha!S b SyXg\lc‚lXUP\ b SyPXg[]R\a!aSz_X(W!a
" 2( 2" %$ >= , #(0/#1 ) 4 %/% ,6$ \?lNViLdOXWshj
b SRi?Xa4\m^_\#SRWGhj
$ > >
K ) M )") "0 <'(' (0' ) * !!' ) !;2< '.!K
<3
(
(#
A
" $"0(K
0# *
)
)
)
)
%" L'(" ! 0#
! #
0" $# '%%( T'3F(%(&
)
)
*!_*#0 3'*6
'=
(
' # ; ) (
*I) ( (
)")
)
#
>&'- .@
!
* "
('& %,:
+ '- '<
<. ) )
'<
*036".(
&'%
.
''
"".&_
* *" 6
#
$/ 0 *
0'~
A
3'3.8
*/
( $1 'L!3O
2
>& '8
<
0#
(*4<
$. <
"
)
)
* T
@.(9
0 D N!'(* .
" ) 1 '3'‚".(
*0T"' 8
'=
M
3 ) 3 M
*?' +
$.( "65 +$ ) - ) '
O
' <
3
*0
3" (<
.E
# "
( 3
7 D $ 1 'B! ; 6
'
$/
#'!* >=
'3' 1 '=' '<
(8( 0* ) "2 ) '(' ;* (
""9
[email protected] 0/&'C
A ) 3'3.
(06
* ) ! :' ) *0 ) :
<;" L
0# ) " :
0#
& !
=
'8
0#
& !0"&
( (=0;=x
"
(*%w
(
'" 'I4:
!! ?>
(# "0.8
"
03'5
0
(0#
@ !8N
'
03 5
&7
)
)
)
@.
#@.
(* $.<
0 ' ) *#J
(*3 '*
( 0
) (
8
) P
( '#3'9
3"&. 3'# !503" A A / D
'
3=
# '*@ (
!.O
&@. O!K ! ) &M
"0
#'
( *0!@.@@ $B (& C#'=
".(
*03 <
7 .7
'C+
!* )
)
)
("_
'"(*3$
#
*( '
'
#'!*0"# '" " )
)
O *!
(&$2_
) ( ;20"!O.<
$.( E>
D (* F>
D (*
)
0#
&
'=
' >8G ) " *+
<
(&
*
'*
<
(
'
"
)
#'
J
<
(
:<
<
.< @
<
>
@
>
<
7SRUPVWXEH n J
I
^_\#W b
K
hj
K
Y
Xp6SR[\]1^_\W!\^`W!\a!X(aGXp b W!\[ b Xcd5f
a^JX(X[$`LaXvNVX(l[X(a8`\a
<
b h?dOXg[hPl
a!SRc
b `X9\]RUPhW!S b `i
b hdJXEXp b W!\[ b Xc~d5f
XW!X(c\w^_\W!\^`W!\a!X
cS[ b SyPX^Jh}EXWGhj7\L^_\W b
K
h#j
K
&
\
b SixX(aq\-^_\SRW7hj_^_\#W b
K
hj
K
a^JX(X[$`~aXvNVXl
b `X%lNViLdOXW4hj
[XaZ}+\aqX'p b W@\[ b X(c?d5f
b SRi?Xa-S b
b h~dOX
Xr^Wh6[(XcV
W!X9Va!X(cejKhPW=^\W@\i?X b XW=X(a b Sim\ b SRhl
b `
X
b `X+^JhPaS b SyPX
SRa-Xp b W!\[ b Xc€d5fu^JhPaS b SyPX
culX(U5\ b SyPXB[(]H\aa!Sz_XWa
`
K
b `W!X(a!`hP]cthPlu^W!X
A b `XB^WXcS[ b SyPXB^Oh}+X(W-Sa<cXz_lXc
a!^OXX([$`‚W!V]X 6
[(hPl b Xp b V_\]T[(]H\aa!Sz_XW-cSyCScXcudNf
\l
Van
b `X+^OhPaS b SyPXE[hPl b X'p b V_\]6[]R\a!aSz_X(W
" 2( 2" %$ /#) @? )* ) 4 %/% ,$ lNViLdOXW7hj
b `XglX}Ga4[(hPW!^
jKW!hPi
LH
SRa=cX(a![WSRdOXceSRl‚a!X([ b SRhPl
n
n
')(
dOX9V
a!V
5 /$9:2;-
6hj\#W
b `XWX
SRa%l
ht[hPl
a!Xl
//#, /#1
X(y#\]V_\ b SRhPl
Sa-V
UPixX(l b
Vc
h}EX(yXW
\lc
l
b h
0ZV
)
K
VXa b ShPl
SRa=V
lh b SR[(Xc
&
a!Xc
&,
b \a
lNViLdOXWEhj1Xp b W@\[ b Xc
l
(K
d_\a!X(c
V
^\SRWjKhW!i?ag\‚^\W@\^
,
&
X8lh}
`X(l}EX
X(y#\]V_\ b SRhPl:n
\[vNVX(ixSl
[Xced5f
&
S b
a b \#W b SlU
\
) 0+[(hPi K
jKhPW!iLV
[(hyPXW!\UPX?}G`SR[$`
&
}<\a9SRl
]H\ b SRhPl
hPV
K
XW
W@\aSRlUrhPl
b `Xga"f6a b X(i
`X9[hyPX(W@\UXrhj
b `
[(V] b
SRa~cS
hj1^_\#W@\^`
SRl
`Sa
`NVix\la(n
a\#lc
]R\y#\l
b `XsSix^_\#[ b
X b W!SX(y#\]1a"f6a b X(ixa(n
b hua"fCa b X(i
`W@\aXadV
b `SRa-a!X([ b SRhPlM}EXLcXa[WSRdOX
b \W!UPX b SlU
`W@\aXa=UPSyXl
A
K
XB[hPW^VaGSRa=lh b
[]RV
cXc
}<\#a
b `
X
b8b `Sa+lNViLdOXWE`_\aE]RS bb ]X=[hPi?^_\W!\ b SyPXGy\#]RVX6aSRl[(X
a!Xa4\~cSJXWXl bGb fC^JX9hj7[hPW^Van
XmX(y#\]V_\ b SRhPl>}EX
b X(a b a
`W@\aXaG^Wh6cV
&
`W@\aXn
SRle\lcT\l b X]
W!hPd]Xix\ b S[ZaSRl[(X
SRaL^
hyNf
b `XrW!X(a!V] b ah#jZhPVW4X(y#\]RV\ b ShPluV
\[([VW!\[(fei?X\aVW!X%\a-}EX]]D\a\?lNViLdOXWh#jqlX}
b `
^\W@\^
&Y
Xa%a`hPV]c
[hPi?i?hPl]fmVa!X(ci?X\
b `XglNViLdOXWGhjD^_\W!\^`W!\a!X(aG^W!X(a!Xl b
\^^Whp6Sim\ b SRhPl
^\W@\^
}GS b `
X(y#\]V_\ b ShPl?dNfxi?X\aVW!SlU
jKhPWim\ b SRhl
WX^OhPW b Xc_aSRl[(X
`X?[]hPa!X(a b
X\#[$`ua"f6a b X(i
Xp b W!\[ b Xc
hjs^\W@\^
\yCSR[$`_\#lcW@\#l‚\lc
d\a!X(]RSRl
b `X9ixhPa b
Xy#\]RV_\ b SRhl
cSyPX(W!a!Xu]RSa b
la}EXWSRlUx\lc l
a!V_\]]fxlh b
lh}Gl:n
]R\a b
aL\lc
n slXghj
b `X(SRW<a"f6a b X(i
b `_\ b~b `X
UPX(lXW!\ b X\
h~[hPl b X'p b n
ix\ll
b \a
i?X b `h6c
a!V_\]]fm[hPi?^]RX(ixX(l b Xc‚d5f‚h b `XWGi?X\aVW!X(an
b `Xf
jKhPW?`NVim\#la
X(y#\]RV\ b ShPl
}G`X b `XWr\l
^_\WXc‚^_\W!\^`W!\a!X(aGXp b W!\[ b XcedNf
b h}G`S[$`
a!Va?\a
b `X9^_\W!\^`W!\a!SlU?Xp b W!\[ b SRhPl
a!XcujKhPW
W!Xa9SRa
Va!X(c
b `Xga!\ixXBc
a!XyPXW!\]<`NVix\l
SRi?XlaSRhPl‚hj
Vc
ixX\a!VWXa(n
UPXa%\lc
b `XghPV b ^V
cXa[W!SdJX8SRl9cX b \S]PhPVWD[hPW^JhW@\-\lc
Sl b W!hCcV[(X€hPVW
d_\aX]SRlX(aXy#\]RV_\ b SRhl
&
hmX(la!V
SRl b W!hCcV[X(c
b `
X
b W!\cS b SRhl_\]
a!SRl
U
W!X
b `XrahPVlc
lXaashj
\] b XWl_\ b SyPX?afCl b `
X b S[
b n
b X[$`
lSRvNVX(aTjKhPW>^_\W!\ixX b X(WDX(a b SRix\ b ShPl:n
ixX b `hCchP]hPUf
\lc
b `X
WXa!V
] b a‚hj
b `
X
$
aGa b \ b Xcu\dJhyX_hPVW=c\ b \~[hla!Sa b aGhj
b W!\la]H\ b SRhPlarhj=jKhPWXSRUl
}EX%VaXc€cS X(W!Xl b
b `X(i
cX(a![WSRdOX
&
b V
]RSlXn
l
b `
%" +?#1 ( )* Xp b 7
}+X?^JX(WjKhPWixX(c
XEa!\ixX8a!hVW![(XEaXl b X(l[X
n
\lc
`NVW![$`
a!X(l b Xl
)
[X+^\SRW(n
&
-)
`
0m}GS
b `Xra!Xl b Xl[(Xag\WX
\]]
a!X(l b Xl
X
b `
X9V
lSRhPl‚hj
:
b h
Xl
)
]RSUPli?Xl b
O}EXr}GS]R]
b `X(a!X%[(hPW!^OhPW!\
hj
hj<\#l
an
&
l
b `
cXWa!Xl
a
b `X
b W@\l
#1# %$ 4
}EXSUP` b
6Xl
\]RSUPli?Xl b n
SRa=^OXWjKhW!i?Xc
jKVl
b Xl[(Xa%}G`S[$`
[ b ShPl
VaSRlU~c
\#lNf
aT\WX<W!X\cS]f
b `
Xi b W!\la
XWlX
K
#(*)-1
a
b W@\l
\WX
K
a!]H\ b SRhlaBhj
d_\aXc
b `
hPl
b `X~}+hPWc
\#]RSRUlXc€^_\#SRW1c
X(z_lX(c
hyXW!]R\^
b hedOX
X
(0*:1@.$3'q$
^_\#SRW!a~h#jaXl
b X(l[X(an
"
\]RX
lNVi%dJX(WuhjL\l[$`hW!aeSRl|\
}EhPW!c
adJX([\VaXolX\W]f
aSRlu[hPWW!X(a!^OhPlcSlU
\]SRUPlX(c€a!X(l b Xl[(XaT}+X?VaXc
SRl
b `
&
fCl_\#ixS[s^W!hUPW@\i?i?SRlU
b `X%a!\i?XrhPWcXW4\lcim\l5f
hui?X\aVW!X
[Xc
\#lc
a!]H\ b SRhla<}+X(W!XL[(W!X\ b X(ctcVWSRlU?cSj
X?W!\ b Sh
`X%\yXW@\#UPX9\l[$`hPWGcX(la!S b f‚SRl‚hPVW=[(hPW!^
^Wh6cV
b W@\la]H\ b SRhPl
Xa!X
]RXTi?X b `hCcr\#[$`SRXyPXaDUPhCh6cBWXaV] b a:jKhPW1hPVW1[(hPW!^V
&
b `hPW!a(n
[(hPVl b WSRXa(n
]RSUPli?Xl b
b W!\la]H\ b XceSRl
[XaL\W!X~ScXl b S[\]n
%(0/% #(4 2)-1
b `
CSRl[(X
b h-[hPl b \#SRl9im\l5fgScXl b S[\]P}EhPWca}G`SR[$`r[\lrUPW!X\ b ]fB`X]^
b `|\
SRa1a!Six^
6hixXghj
aXl b X(l[X
b Xlc
b `XBix\ b [$`SlUL^Wh6[(Xaan
SRl
a!\ixXmX(yPX(l b n
b W!\la]H\ b SRhPla<\ixhlU
^OXWSRi?Xl b aE}+XBVaXc‚lSlX
jKXWXl bGb SixXB^OXWSRhCcaG\lc‚SRl‚cS X(W!X(l b
lUP]SRa`
iLV] b SR^]X
b Xp b aT}GW!S b!b X(l%d5fgjKhPW!X(SRUPl%\V
b `_\l~hl[XN\lc
b W!\la]H\ b Xc~i?hPW!X
hPVW<X'p
:&%,4
brb `X
I
VaqSRaD[hix^WSRaXc%h#j_]RS b XW!\Wf
7]H\VdOXW b a
]H\ b SRhlarh#j
,4 %(
K
lX(}Ga?\W b SR[(]RX(aL\dOhPV
c
b `X%[(hP]R]X[ b SRhlu\#lc€\]SRUPli?Xl b
[]R\a!aSR[\] b Xp b aZ`\yXGdJX(Xl
\y#\SR]R\d]RXGhPl
SRa b SRl[ b=b fC^JX(a4hjD[(hPW!^OhPW@\
W!l:n
b W@\#la!]R\ b ShPlr[(hPW!^
`X
b Xp b aw\l
W![X
ixX b `hCcaGjKhPW
SRl
a!hPV
b }Eh?c
&
h
hjESRcX(l b SR[\]
VaGSRa=vNVS b Xg`SRUP`
Xy#\]RV_\ b X
"!!$#%## &(')*&(',+-/.,0
132546&78.9!9:;
7<=2?>
4!594;
A
b `
b h
Xu\#[[V
b h
X(la
W@\[f
9
n
hj
b `
) & n
9
a!Sa b ahj
) 0T\]SRUPl
b SRhPlSRl
cSa b W!SRd
SR^6zM\l
I
V b ShPl
_W!X(vCV
&
b `SRWcmhj
b h
b h
b `_\ b
Xl
0
a
&Kb
}GSR[(X
h
Xl
a
8&
) ) H
b h
Xla
n
I
b SRhPl
b `X
Sl
H ) b W!\la]H\ b SRhPl
[(hPW!^V
a
hg\[[(ViLV]R\ b X<]R\W!UX+\i?hPVl b aqhjOlX(}Gao\#W b S[]Xaq\#dJhPV bqb `X+a@\i?X<X(yXl b 5
}EX=Va!X=l
[h]R]RX([ b Xc
6X(^
d5f
b X(iLdJX(W
jKW!hi
)
V
[\ b X(UPhPW!S
b X([$`lhP]hPUf
&
b `X
hP]ViLdSR\
l b SR]
\W![$`
X(}Gad]H\a b X(W~afCa b Xi
0n
\wy#\W!SX b fehjZlX}Gas}+X(da!S b X(a:aV[$`
afCa b Xi
\lc
`Xg[]Va b XWSRlU
X(a
b `Xi
b SRhPl
Sl b h
b `W!X(a!`hP]c‚SRa<aX b
8}EXuaX]X[
b Xc
a!V
[]RV
&
&
`
SRUP`
\a`SRl
ah
b }Eh
h}Gl
7hPa
U b hPl
b
^OXWSRhCc
]Rh5\c
\lc
X(}GaZc_\ b \
&
jKW!hPi
aw\]R]E\W b SR[(]RXa
7n
&
`X(l
b `
X
lX(}Ga=SRl b X(W!l_\ b SRhPl\]<lX}Ga<a^JhPW b a
b `\ b
h?XlaVW!XgaV
[(]RVa b XWa?jKWhPi
i?hPl b `
U€\a!XyPX(l
X(}Gad]H\a b X(W?c
W!SRl
a b X(W!aw\W b S[]RX(aLd5f
[(SRX(l b ]f
b `XBa!\i?XBX(yPX(l b n
X(yPX(l b
\a
cV
c_\f
yPX(Wf
yPXe[\ b XUPhPWSRX(a
z
Xl b X(W b \SRli?Xl b L
0 \lc
b \#SRlaG\W b S[]RX(a<cX(a![WSRdSlU
cX(a![WSR^
Xl[f
) -) hPWc‚cSRa b W!SdV
jKW!X(vCV
yXW@\#]R]
) (
H
H H 0
K
b W!\la
b W@\#la!]R\ b ShPl:n
]h}
a!]H\ b SRhl
W@\l
b `X
hlXshj
b SixX(aESlmX\#[$`
K
b SRhPla4jKhP]R]h}Ga\
Uw}GS b `uim\l5f
)
cSRa b W!SdV
b }GSR[(XsSRl
&
b n
UPSyPX(aa!hixXra b \ b SRa b S[a-hPl
UP]f}+hW!c
CX[hlc
b ^V
a-hPV
`X-\]RSUPlX(c~[hPW^Vao[hPl
n
b `\lmzyX
W@\#la!]R\ b ShPl
&
a!VW^W!Sa!SRl
]Rh}{jKWXvNVX(l[(fe^_\SW!a(n
b
0
b `_\l‚zyX
hPWX
h b
SRaG[hPW^Va-}+X%\W!X9cX\#]RSRl
yPX(W@\]] & }EhPW!ca 0
sl[X & b h Xla 0
TSUPVW!X H
Xla(n
X(laG\^^OX\#WEi?hPW!X
TSRWa
h
b h
b `XL\]RUPhW!S b `i
&
ixX(l b an
\]SRUPl
X(laG\^^OX\#W<hPl]fxhl[XshW
b `
SRl
Xl[f
TSUPVWXEH
&
b `X
`_\]j>h#j
a!XvNVX(l b ]f‚}GS b `‚im\#lNf
yPX(W@\]] &Kb
aXl b X(l[Xw^_\SW!ajKWhPi
}EhPWc
b W@\#la!]R\ b ShPlan
X
`Sa4a b \ b SRa b SR[gSR]]RVa b W!\ b X(a
}EhPW!caO\lc‚[hPl
aB\lc
b `
]H\ b SRhlaC\lcmhPl]fwhlX
&
) X(c
ixX(l b aT}EXW!XGScXl b Sz_Xcx\aZ[(hPW!WX[ b
H?}EhPW!c
cSRa b WSRdV
}EhPW!c
^W!hC[X(a!a:}EXw\l_\#]f
X~\]RSUPli?Xl b
b h^SR[
SRl
}GS b `Sl
^W!\[ b SR[(X
[SRX(l b
[\ b X(UPhPWSRXa
WXcVl
X\[$`
X\[$`e[]RV
[\ b XUPhWfPn
a b X(W=[hPl
K
c_\l[f‚SRl‚\l‚X(yXl b
\lc
SRl b XW!l\ b ShPl_\]
lX}Ga_a!Sl[XBXyPX(l b a4Sl
b `
Xu[\ b X(UPhPWf
b `X(a!XB[\ b X(UPhPW!SXa=VaV_\]]f?`_\yPXB}GSRc
b X[$`lh]RhPUf
hj
-)
[]Va b XWa-X(l[hix^_\#a!a!SlU
E}EXe`\yX
h}
7SRW!a b SRl6jKhPW!ix\ b ShPl:n
l
b h
&
X(}Gan
\W b S[]RX(a=SRl
}EX%d
W!X\
&
) 0
a!X(l b Xl
[XaE}G`SR[$`x`_\yPXs\g^WXcXz_lXcmlCV
[hla!ScXWsaXl b X(l[X(a%\#asa!SixS]H\W=Sj
a!X(l b Xl
b `X
) )
b `_\ b
W!XyPX\]RX(c
lh b
}EXm[\#l
BV
[hW!^Va(n
&
b h}+\W!c
}GS b `
l
b `
b `XgSRl^V b
hPd5yCSRhPVaEhPd
SRl b X(W!Xa b SlU
p6SRa b SRlU
hPVW9[hW!^Va(n
_hPWgXp
]H\y#\la>\lc
^_\SW!aZ^Wh6c
a
ix\l5f
\i?^]RX
b h
6SRiwz_lc
0 SRa
WVllSlUxS b
b hCh
b ^V b
lhPSaf
b `XmahP^`Sa b S[\ b SRhPl
Sl
b `\ b
Sa
b h6h]
b h‚dJX~V
]ZSRl
a!X(jKV
H &
a@\ b SRa"z_Xa8hPVWolX(Xca
A
n
Va!SlU
b `
SRa
b X[$`lSvNVX
jKhW!ix\ b ShPl:n
]RX\W!]f
brb h
V
S b
a
X(}Ga=hVW+[(hPW!^V
b `
X
SRl
]Rha!SRl
ULa!X(l b Xl[(X%^_\#SRW!a
b \a
&
XW
b SRhPl
Sl
^OhChPW!]f
hPl
hPl]f
b X'p b a~^JX(WjKhPWi
6SRiwz_lc
hPVW
b `X
}+\a
a<a!X(]RX[ b ShPl
\ b
hP^
Sy#\a!aSR]hPUP]RhV
\‚a!\i?^]RXLh#j
H 9 0Ty\#]RSRc~^\SRWan CSRl[(X4hPV
}EX[\#l
7\SRWashj
jKhPW!ix\ b SRhPl:n
WX]R\ b X(c
hj<hPlX?a!V[$`
b `\l
[Xs\#W!XGX]SRi?SRl_\ b Xc
b `XxixX b `hCcTd
hj
jKhPW b Vl_\ b X]f4S b
SRl
\]]_^_\SW!aohj
hPW!X-a!^OX[(Sz_[\]R]fP}EX
XWZa!X(l b Xl
hPW!a}G`SR[$`‚ix\fmW!X(a!V] b
XWo[hPl b \SRlX(cxhl]f
\W b SR[(]RXa
b `XLaXl b X(l[X?^_\SWn
b X(l[Xe^_\SW!ar[hP]]RX[ b X(c
-l
Xl€Sl b XWa!X([ b ShPl€SRa4UPW!X\ b X(W
aE\#lh b `
]h b a=hj7W!X(cVlc\l b
\l[$`
(H
a!SRi?SR]R\W
\?[(]RVa b X(W-h#j
[XG^_\SW!aD[hPl b \#SRl~W!X(^JX\ b X(c~SRl
^_\ b!b X(W!la(n
b `XxhV
b h
aXl b X(l[XwSRl
b hChP]Ra9jKhPW%aXl b X(l[Xe\]SRUPli?Xl b
fCSRX(]Rcao`SUP`]f~\[[(VW@\ b X4^\SRWaNS b
hj7[hyPX(W@\UXrd5f
b `XSW
\UP\SRla bEb `SRaEixX b `hCc
`W@\aSRlU
SRl )
V[X(cmd5f
c_\ b \
X([ b ShPl
^\W@\^
b `X<a!X(l b Xl
SRar\[[(VW@\[f
a-aXl b X(l[X9^_\SW!a<}GS b `
hPVW%[\aXn
H 9 07hj
n
]RX
[(hPl5yPXf
\W b SR[]XG^_\SRWZ}EXX'p b W@\[ b
]R]fr[hl b \SRl
) aXl
W~\l_\]fCa!SRa%hj
\ b!b W!SdV b X
[$`_\W!\[ b XWSRa b SR[(a-h#j
b `X~a!`hW b X(a b
b `XGa!Xl b Xl[(XaEjKV
X-h#j
A
iLdJX(WEh#j}EhPW!ca8SRl?[hixi?hPl:n
b `XL]XlU b `thj
b `XL]XlU b `€hj
`_\]johj
[XaESRl~}G`S[$`xhPl
jKW!hi
`XlC}GS b `SRl?X\[$`
9\W b SR[(]RXG^_\SW!an
h#jsc_\ b \
^_\SW!aLh#jaXl b X(l[X(ax}G`S[$`
X\[$`u[]Va b XW-SRl b hw^_\SW!aGhjT\W b SR[(]RXa
& b h
"
n
\ix^
b h b \]n
\V b hPim\ b SR[\]R]ftz_lc
fCSRX(]Rca
hPWsX(vNV_\]
}EXu[(hP]R]X[ b Xc
`SRa~}+\f
6jKhPW<X'p
b `_\l
XW=[hyXW@\#UPX
\]}<\fCaE[(hPi?^JX(la@\ b X
hyPX(W4]R\W!UPXs\ixhVl b aGhj7W!X]R\ b X(ce\W b SR[]Xa(n
) W8i?X b `hCc
b `X-]H\[
_W!X(vCV
yXW@\#]R]
Xl[f
yPX(W@\]] &Kb
yPX(W@\]] &
&
}EhPW!ca-\l
c
)
b h
b h
Xl
n
b W@\#la!]R\ b ShPl
h b `
a!X(l b Xl
hj
b fC^OXa=hj
b W!\la]H\ b SRhPl
[(hPW!^V
"
b `
^`W!\a!X(agSRl
W!hC[
)
b `_\l
b `
c_\ b \
Sl
b `X[(hPW!^V
^\SRWx\lc
b Xl[(Xa P
[(hPl b \SlSRl
&
hPW!S b fmh#j
Sl
b h
`SRagSRa9SRl
b XW!i?a+h#j
a
b `
b `X4]RXl
)
U
H H &
U b `
c
aXl b X(l[X
b `SW!ca?hj
b `
X
[hPl b W@\a brb h
b `
X
}+h
a`_\W!^
b }GSR[X#n
X(yCSH\ b SRhPlxdJX b }+X(Xl
\yPX(W@\UPXxW@\ b SRhedJX b }+X(Xl
X
b W@\#la!]R\ b ShPl:n
ix\[$`SlX
X(la\#^^JX\WGhPl[(X9hW
a!`hPW b X(WmhPlXuSRa
\
X(}Ga-[hPW^Va
amcSa b WSRdV b SRhl:n
b `X?[hPW^Van
b `XmlX}Ga%[(hPW!^V
Sl
\
X9l
b `X?[hW!^OhPW@\‚Va!X(c
b `Xs[(hPW!^OhPW!\%\WXa!SixS]H\WZSl
b `
SRl
a-}EXga!X]X[ b Xcu\~a@\i?^]XBhj
SRa<[(hPW!^V
b `Xgix\
}G`X(W!X
H 0
Xla
) CH
4^_\SW!aTh#jO\]RSUPlXcra!X(l
b SixX(a9Sl
zyPX
) n H =[hPi?^_\WXc
) n
b h
]XlU b `
Sl
b `
X
an
K
h#j
K
b \UPUPX(WD\lc%[$`NVl
a!^OXX([$`
X~a!Xl b Xl[(Xan
&
#\lcgy#\l ,
S
l )
(0*:1@.$3'q$
".$*'
~
(?g*;
XW
& S
`
`X(a!Xw^`W!\a!X(agdJX([hPi?X
r+"o*8
4*9
E
*
( A
b ShPl
V
b `X?im\#UPlS b VcX~hj
X=\#]Ra!hW!X[(hPW!c~jKhPWTX\[$`
ZSRX(^JX(lCd
b h
0
&
4
XEVaX+\-^_\W b
:
_W!hi
b `Xt]hPlUPX(W?aXl b X(l[X
W!S b `ien
a
hPW!c‚cSa b W!SRd
) b `Xxa!\i?Xx^_\#SRW
[Xa~Sl
Xl
^Why6ScXaxixhW!Xea b \ b SRa b S[a?hPl
aL\^^OX\#W9i?hPWX
iLV] b S^]RX
I
Xla(n
A b `SRaga@\#ix^]XwSRaghj
^_\SW!a 7
TSUPVW!X H
n
H(H
)
0
0
Xla
h
0
a
b `_\l‚zyX
hPWX
SRaqi?X b `h6crf6SX]ca
`
&Kb
Xl
}EhPW!ca
b h
}GSR[(X
TSRUVW!X H
&
&
sl[X
h
A D>
$". b h
XlwS b aTc
H10Jc_\
XX(y
)
0
b h4ScXl b Sj fBlhPV
b `Xw\ b hPi?SR[rVlS b aBVa!X(c
XW!Sy#\ b ShPl_\]CW!hCh b #
Va!SlU
b \d_\aXn
lgXp
\i?^]XZSRl^V b
b `
G*L
' .
* )
oY
SRa1a`h}GlrSl
"!!$#%## &(')*&(',+-/.,0
132546&78.9!9:;
7<=2?>
4!',+50
8(E K =>
(B
X
A
lL\lc9yPX(W!d
dNf
b `Xw\]UPh
&
\P\fPXl
7SRUPVWX H n ) *" o80" +!s
E0'&'0(! E ('='
)
0*o
g"2&
K
n
)
:
: 0"
(0
D 0 0 ."
D 0 * D 0 ".(" 1)0 > 1 0 @
0 0 +
3 3 +
0 0 x# ' * + 0
TSRUVW!XEH6n ) I T\SW=hjq\#]RSRUlXc
&
"
b `XGhP^
hgzlc
b SRix\]
8
@ @ > '
;
+ 0
'
+ 0 * + > ' A A A + 0 +
B A > * + 2 ' A A 3
+<
aXl b X(l[X(aB\#j b X(W=^W!X(^W!hC[X(a!aSRlU
^_\#W@\i?X b XWZa!X b!b SRlUPaqjKhWZhPVW8\]RUhPW!S b `i}EXGVa!X4\Ba!ix\]R]6cX(yX]hP^i?Xl b
&
\l_\#]fCa!SaqhjJ^_\W@\#^`W@\#a!Xa
VX(a8}G`S[$`x}GS]R]
a!X b n
b `XGjKhP]R]h}GSRlUBhPd
VaSRlU
cXyPX]hP^i?Xl b
aX b
I
b `XelCV
"
SyXl
[\#llh b
a!ShPl_\]S b f
hj
b `Xi
\ b SRhPl€^
X'p
b `XaX\W[$`
b& 7
\[ShPW!X
`\Va b SyX]fn
& ZW!Xaa~X
W!hPd]Xi?a
\lc
a!^_\#[X
l
,
&
XSUP` b
`
b
hPa!X(l
jKX]c
b `X-^_\W!\^`W!\a!X(a
\lc
SR]RX~[(hPlaSRcX(W!SRl
hVWx[\a!X 0 n
b `
X
&
`X(l
_VW
]Rc
Dh}EX]]
X9hd
}G`S[$`
\WX
X[ b SyXBjKVl[ b SRhPln
a!X b
b `X(W!i?hPW!X
XX^
Sl
hChCcim\#l
& oWXaamX
b `Xw`SUP`
SRl
}+X9\WXBlh b
b `X%im\
)
K
10
b
b Xlca
\]n
b h
cSRi?XlaSRhPl\]
cX\]RSlUL}GS b `‚\
hW!S b f‚h#johPVW^\W@\i?X
4 2",$ %) %(*( %$ 2(&
&
K
b `XxcSRi?Xl
i?SRlc
am\#]RUPhPWS b `i
"
\#lc
b `XwcXyPX(]RhP^i?Xl b
S b ShPla
i
X
UulNVi?XWhPVagixX b `hCcagcXyPX]hP^OXc
0 D}+Xma!`hPV
Sl
a!X b an
X\]UPhPWS b `
b `
b `X9a!^_\#[X9hjZ\]]:^_\W!\i?X b X(WGa!X bb SlUPa_}EX
)
lua!V[$`[hPlc
b
XrX'p b W@\[ b X(c^_\W!\^`W!\a!X(a
b `
d5f
a^_\[X%hjo[hPl b SRlNVhPVa]fey#\W!SR\d]RXg^_\#W@\i?X b XW!aaSRl[(X
b X(W!a-`_\yPXrcSRa[W!X b X9y\#]RVX(an
b `
hj
b hwixSlSRi?S
\]n
0
b ^V
K
^_\W!\i?X b X(Wqy#\]
b XWixa6^_\#W@\i?X b XWoXa b SRix\ b SRhPl~j\]]RaZSRl b h
b `X(a!X
`X(VW!Sa b SR[LUPWSRctaX\W[$`
a!Xc
UPh6hCclX(a!a
XW!Xg}EXr\#SRi
a!^\[X_Xa!^OX[(SH\]]f?jKhPW=a!ix\]]cXyPX]hP^i?Xl b
a!X\W![$`
iLdJX(Wxh#js^_\SW!a?Xp b W!\[ b Xc
\ b SRhlm^WhPd]RX(ixa<}G`
0 \m[hPi?i?hPl]f‚V
hyPX(Wz
b `X-afCa b XikhPV
b `X9]H\WUPXBlNViLdOXW-hj7X]RX(ixX(l b a-SRl
Xp6^]hPW!X
jKhPWrhP^ b SixS
X
b hBaX]RX([ b
Sa
b `XLix\lNV_\]
b `XlNVi%dJX(WEhj:^_\W@\#^`W@\#a!XaEXp b W!\[ b XcmjKWhPi
Xl b Sz_Xcm\ao^_\W@\#^`W@\#a!XaEd5fm\g`NVix\l:n
b `
Xgi?X\aVW!X
X[ b SyX4jKVl[ b ShPl
ixSlNVa
\~[]R\a!aGhj7hP^ b SRi?S
6n10n sVWZUh5\]
cXa[W!SdJX(cxSl~a!X([ b ShPl
b `X-a!SRi?SR]R\W!S b fgdJX b }+X(Xl
Sl[WX\aX
b `XgcXyPX(]RhP^i?Xl b
jKW!hi
)
@ @ + 0
+ 0
}GS b `tim\#lCV\]R]fe\llh b \ b X(c€^_\W!\^`W!\a!X(a:}G`S[$`t}+X~^WX(yCSRhVa!]fVaXc€jKhPW
a!X b
SRc
0
X b W!hP^OhP]SRa=X b
K
\]n
H10+a!X(Xi?a
)
b hwdJX9\~cXaSRW!\d]RXBaX\W[$`a b W@\ b XU#fPn
CSRiLV]R\
SRl
b X(c%\#llX\#]RSRl
sVWSRlUgX\#[$`xS b XW!\
SRaTaX]X[ b Xc?\lc
\LUPX(lXW!\ b ShPl
d5f
UPX%Slu[(hPa b
[ha b
jKVl[ b SRhPleSRl
hP] b
Xl
im\l
&
cX([W!X(ixX(l b
y#\]RVX
\La!ix\]]J^OXW b VWd_\ b ShPl:n
b W!\la!S b ShPl‚SRa-Vl[hlcS b SRhPl\]R]f
b W!\la!S b ShPl‚SRa-\[[(X^ b Xc}GS b `\?^WhPd_\d
&
I 8 0:}G`XWX
SRaB\m[(hPla b \l b
X(vNVSR]SRdWSRViJ}G`X(W!X?lh‚jKVW b `XWg[$`_\l
b he\l
c
lCV
& oWXaaBX
U
Xeix\p6SRi%Vi
\#lc
b h
Xc
ixSlSRiLV
b `
}G`X(l
i?X[$`_\l
SRa!i
%
a b X(^a-\ixhVl b SRl
) sa!X(]RX([
b a5hPWTjKhW
}+XGVaX=SRaqd\a!X(cxhPl
b
\#]n
)
$2 ='.$'*
0 &
"
73
)
!
A
[Xa4SRluhPd
^:n
!
)
U
X[ b SyPXrjKV
W~hPd
\lc
Sl?hd
X[ b SyX-jKV
b `X<y#\W!SR\ b ShPl%h#j
Sas\
UPXa9h6[([VW(n
jKVl[ b SRhl
`_\a
b h
b
c
X[WX\aXgSRl
SR[$`XyPXWo[(hPixX(aqz_W!a b n
l[ b SRhPl?\i?hPlU
b `X=ch}Gl`S]R]
g^OhPSRl
X
Sj
b `
X
b `
X
[$`_\l
b a(n
&
&
n
&
`
\
b h
b Xi?^OXW@\ b VWX
b Xi?^OXW@\ b VWX
a!SRc
XW@\#d]f
\#]n
CSRl[(X
lh}Gl
b
UPX
jKWhPi
b hmi?hyPX#n
\#W!X
b `
XwlX(Xc
dOXL[hPl
i?hyPX
Xc
&j
d_\#a!XcV^Jhl
Mh]R]Rh}GSlU & oWXaaxX
) L^JX(W![X(l
b X(cw^JhPSl b aP}G`
&
l[ b SRhPlejKW!hPi
X[ b SyPX
b `Xien
b hw\
)
0 Z}EX
`Xsy#\]VXshj
X=a!X\#W![$`?a b h^a
`X-UPXl
XW@\ b SRhl
aSRi?^]RX'prixX b `hCc~cXa[WSRdOXc
) 0n
!Z1800&N"2&
:+%='P.$'*D3O
*G+7"('.>
"
SR]RS b f
b W!\laS b ShPla8jKhPW+X\[$`
iLdJX(W<hj
b `X%hPW!SUPSRl_\#]:y\#]RVXrhj
y#\]VXa~h#jhPV
hrSix^WhyPXi?Xl b
XW!X-SRaZl
& oWXaa4X
B^OhPSRl
i
0 cSJXWXl[(X‚dJX b }+X(Xl
dJX‚\
^Wh6[(XXc‚ch}Gl5}+\W!ceSRl
SRaT`X]cLjKhPW
)
\]n
b
A
\[([X(^ b X(c
b `W!hVUP`hPV brb `Xm\#]RUPhPWS b `i
SRa9UPW@\#cV_\]]f€]h}EXWXc
b `XrXp6^JX([ b Xc€cS X(W!Xl
b `_\l
Saw\a!aSRUPl
SRl
^OhPSRl b a<d5f
b `XG[(VW!WXl b
`X<lX(SRUP`NdOhPW!`hChCcLSRa7cX(z_l
Xn
]H\#W!UPX(W
&
b SRhPl
b `X
b `X
dJX b }+X(Xlea!V[([Xaa!SyPX9a b \#UPXaG\l
_hP]]Rh}GSRl
b `
SR[$`‚a!X(]RX[ b a=lX}
&
b `XEUXlX(W@\ b SRhPl9ixX([$`_\lSa!i#SlS b SH\] b X(ix^OXW!\ b VWX#a b h^%[WS b XW!ShPl9\lc
a!^OX[(Sj f
y#\]RV
[W!X\a!X(a
b `XGlXSUP`NdJhPW`hCh6c~hj
SRl
X[ b SyX+jKVl[ b ShPlLSRa7[\][V]R\ b X(c:n
SRa!i6}G`
`Xm^_\#W@\i?X b XW
a b \#W b SlU
`SUP`
i?X[$`_\l
ltcSRa b WSRdV
XW!U#fPn
b `X<hd
jKVl[ b SRhluSa4lX(U5\ b SyPX
[$`_\l
SRl
b ShPl5\g^OhPSRl b
b `XGa!X\#W![$`ma^_\[(Xn
^OhPSRl b
W!hC[XaaP}G`S[$`La b \W b a7}GS b `%ahPi?XESlS b SH\]P^OhPSl b
U4SaT\l%S b X(W@\ b SyX8^
8 Z* =E'O3( '
DJ
(*0*
)
)
7* 8"
0#
7J
(<0#'
&
A
H
XrcX(W!SyPXce^_\W!\i?X b X(W<y#\]RVX(a-\W!Xga!`
`
T\W!\ixX
b `
`Xri?SRl
SRix\]M^W!X(cSR[ b S yXg^Jh}EXWGhjT\?[(hPl b Xp b V_\]>W!V]X
`Xri?SRl
SRix\]_jKW!XvNVX(l[(fehjT\~]RX'p
`Xri?SRl
SRix\]M^W!X(cSR[ b SyXg^Jh}EXWGhjT\?]Xp6SR[\]WV]RX
`Xri?SRl
SRix\]_jKW!XvNVX(l[(fehjT\~^_\W b
`Xri?SRl
SRix\]M^W!X(cSR[ b SyXg^Jh}EXWGhj
b `X
]RXarjKW!hPi
b `
XxlX}Gar[(hPW!^
a!V
a!]H\ b SRhl
Van
h
\a!aXaa
b `
X4\#W b
X b
\#]n
>
)
b h~ix\lNV_\]]f?SRc
K
H(H
a!^OXX([$`uWV]RX
b `Xg^_\W b
K
7\W@\#ixX
hj
K
a^JX(X[$`eW!V]X
b XW
\]VXa
i
H t]Xp6SR[\]8^_\W@\#^`W@\#a!Xa [hW!^Va8\lc
b h~\]]
b `
XxvNV_\]S b fhj<X'p b W@\[ b X(c
h
}+\l beb h
b `Xs^_\#W@\^`
Xl b Sj fm\#]R]
[(hPi?^_\W!Sa!hPln
xixhPW^`h K
W@\aXa=^WXa!X(l b XceSRl
a@\i?^]SRlULh#j
b ^
W!V
]RXarjKW!hPi
b `X
b `XB[(hPW!^V
b `XB[hPW^Va
c
b `
X
^_\W!\^`W!\a!X(a
an
6SRl
}+Xg[\l‚lh b
[XsS b
Sa
^OXW"jKhPW!i
[(V] b fM}EXLVaXL\] b X(W!l_\ b SyXrXy\#]RV_\ b SRhPl
b `SRa4cS
b `XghPV
^_\W!\^`W!\a!X(a%\l
[hPi?^_\WX€cSRWX[ b ]f
b `XB^_\W!\^`W!\a!X(a=SRl
[(hP^OX9}GS b `
\#lc
afCl b \[ b S[
V
b
\lceafCl b `X b SR[
b X(a b an
b `XrixX(W!S b
i?X b `
*> hjZhVWi?X b `h6c
a b \ b SRa b SR[\]
h6caqjKWhPi
CH A
'
h#j
H?^_\SRWahjo]Xp6SR[\]>^_\W!\^`W!\a!X(ag\lc
cX\]R]fG}+X€}EhPV]Rc
i?X\aVW!X(a-aV[$`t\#a-W!\lchi
K
a b Sim\ b Xc
b heX(y#\]RV\ b X
Xx\SRi
b `XB\]UPhPWS b `
\xcSW!X[ b
[$`
b W@\l
[(hyXW!\UPXn
Xp b W@\[ b Xc‚d5f
)
S[\]W!V]X
^W!hCcV[(Xc
b `i
W!V
SRl6jKX\aSRd]X
X9[(hPl b X'p b
SRix\]_jKW!XvNVX(l[(fehjT\~[hPl b Xp b V_\#]DWV]RX
>
\]UPhPW!S b `i
\]VX
`Xri?SRl
TSUPVWX H n ) ) I sVWs\#]RUPhPWS
n
b X(W
`Xrix\p6SRix\]O]RX(lU b `‚hj
TSUPVWX H n ) )
h}GleSRl
]
K sl_\S "2
)
\luX b
F ;
\]n
O}EXL[hix^_\#W!X9S
b W!\la]H\ b SRhPlLa"fCa b X(ixa
ix\[$`SlX
)
Z0&
10'n
`
b a-^OXWjKhW!ix\l[X%\U5\Sla b-b `
Xa!Xwi?X b `h6c
*N">
)
& X]H\#ixX(c
):A
aB[\l€dOX~X\aSR]fVaXc
0*
A
X%a b \ b Xrhj
W!h}Gl
b h‚\[(vNVSRWX
^_\W!\^`W!\a!X(a>d5f
b h€dOX
[hla!ScXWXc
b `X(f
b W@\l
&
`S]RX
X]R\ixX(c
& b K b
b \#d]RX(a
a"fCa b X(i
a!]H\ b SRhl
afCa b Xi
a
]R\lUPV\UPXn
b h
\d]Xa <
0 \a4^\W b
hPV
"
S
b ^
V
hj7S b a
\
&
b a
b `X9zW!a b
X b
Wh}Gl
b `
\]n
hj
\ b ShPlSa
jKhW
)
(H A
"
Van
hPW!X?a!^OX[(Sz_[\]R]f
b X[$`lSvNVX9jKhW
hlXwSRag\
jKV]R]Ta b \ b SRa b S[\]
K sl_\S ]
b \a
b `X(a!X9SRa-\
X?aX[(hPlc
]Xp6SR[(hPl
b W@\#la!]R\ b ShPl
X b
\l
\#]n
)
10n
^W!hCcV[(Xa
b W@\la]H\ b SRhPl
a!]H\ b SRhlei?hCcX] 6
}G`S[$`[\#ldOXgyCSX(}EXct\#a
b W@\la]H\ b SRhPl
\
b W@\l
I
) 0 >\lc
X]R\ixX(c
b `Xw^_\W!\^`W!\a!X?Xp b W@\[ b SRhl
\‚^_\W!\]R]X]T[(hPW!^
b X([$`lSRvNVX(a
yPX(W!d_\]S
b `X(a!X‚ixX b `hCca%}EXWX‚cX(yX]Rh^JX(c
`S]RX
b `XSWr\#SRi
SRl
\UP\SRla b=b }+h
cX(W!SyCSlU‚dSR]SRlUPV\]7]Xp6SR[(hPla
X
UPV_\]>[hW!^Va:}G`XWXwX\[$`
dS]RSRl
b `Xxa!\i?X?i?X\#lSRlU‚UPSyPX(l
}EX%[hix^_\#W!XcehPVWGa"f6a b X(i
ix\[$`SRl
\ag\
b `Xw[]hPa!X(a b
\WX
}+hW!ca9}GS b `
z_lcSlU
hPVWsc_\ b \
U
\tcS X(W!X(l b
SRl
\‚cSJXWXl bgb \a
b W!X\ b SRl
S
\
]RX'p6SR[hlan
Xa!X%ixX b `hCcaG[\ledOX9jKVW b `X(W-\c
`
b V
b W!\la]H\ b SRhPlLi?X b `hCcaZchglh b
\[$`
SRlX
a@\#ixXB}EhPW!cuW@\WX]f
\^^OX\Wa4Sl
"
Xl b S[\]}EhPWca
b h?hPVW
^_\SW!aZhjSRcX(l b SR[\]
b hVa!X=X(l b W!SXaZSRl
X%[hW!^Va(n
\=ch6X(a>lh b
b h
V
l
b `X<c
h b
a b i?Xl b
b h
SR[ b SRhPl\Wf
`_\yPX
"
S
b h
cXc
}GS b
\w[\#ldOXlXz
b
b `
V[X
\w\
b7b W"f6SlU
`hPV
b h-]RX\W!l
c
b hBSRlcV
[X
b `
XSRW
b W@\l
SR[ b SRhPl\Wf[hPl
b `XG[(hPW!^V
an
"
b `XSW
S
a
X
a!]H\ b SRhlan
a!SRa b SlU~hj
\}+\a8cXaSRUPl
Xc
b W!\la]H\ b SRhPl9jKW!hPi
b `Xr^W!X(a!X(l[XLh#jo\l[$`hW!as\#a4hPV
jKWhPi
b `
b }EhmaXl b X(l[X(a}GS b `
yXltUSyPX(l
b W!\la]H\ b SRhPl
\^^OX\#W!a8SRl
sVW\] K
[$`xScXl b S[\]6}+hPWcaNdOX[\Va!X
b W!SXa
S
[$`hPW!a(n
XBa!^_\[(XghjD^JhPaa!Sd]RXsix\ b [$`Xa(n
Xl b S b f#\lc
"
K
d5fecSRWX[ b ]fmXp6^]RhS b SlU~jKX\
X(]H\i?Xc
jKhPW=`SaGixX b `hCc:n
]R\lUPV\UPXa(n
b `_\ b
X(l
\a7SRa
b `Xg[(h6cXghj
W!Xc
VaV_\]]fLWX]f%hPl?a!V
a!X(X -b `X(SRW1SRc
X(la8jKhW8X\[$`
`SRaG}<\f
XgcSRc
a!SixS]H\WE\c
S
b \a
b `XL\y#\SR]R\dS]RS b fxhj8\l
]f
b `X(f
b }+hxcSJXWXl b
b `SRa=]SRi?S b \ b SRhlP}+X9\c
h?hyXW![(hPi?X
chCXa(n
b a=jKW!hi
b `Xia!Sl[X
UW!X\ b ]fxdOXlXz
b `
Va b Xc
W!XahjZhPVW4ixhlhP]RSlUPV_\#]:^_\W!\]R]X]1[hW!^Vaix\SRl
UPhPWS b `i
SRc
W4i?X b `h6c
b hChP] 6
}G`S[$`u^WX(yXl b X(ctVa=jKW!hPi
a
chPSlUw\
B !90#'&<;"&ZJ"8
r 9"&$
(o
&K='#w ) ( <
"3.
"6 /"&$
(q
GL * <
"3oq ) &+!r" # ". # 0"&
&8
* ) '
A
)
}+\ar`
b `\ b
%
b `XwcS X(W!Xl
b hecX\]Z}GS b `
h}
b `X
hj
l9SRi?^JhW b \#l b
b `_\ b
[X?dJX b }+X(Xl
SlcV[ b ShPl
]RX'p6SR[hl
vNVXa b SRhl
\WhPa!XZSlBcXaSRUPl
b `XxhV
b X([$`lSRvNVX(an
`X
W1Xp6^JX(W!SixX(l b a
SRlU=hPV
b ^V b
jKhPWim\ b
hj<hVWgixX b `hCc
afCa b Xi?awVa!V_\#]R]f
]RX'p6SR[hl%}G`XWX=X\[$`w^_\#SRWDhjM}+hPWcaZSRaT\a!ah6[(SH\ b XcL}GS b `~\a[hPWX=W!X(^W!X(a!Xl b SRlU
b `\ b%b `X(f
b W@\#la!]R\ b ShPlaghjGX\#[$`
\W!X
b W!\la]H\ b SRhPlaZh#j:X\#[$`
h b `
a"f6a b X(iun
b ShPl
b `_\l
`SUP`XW
b h
b `_\ b
b `
b `WXa!`
X
n )
X
K
n
b h
hPl]f
yPX(l
`
b `SRa=[\a!X
b `
X9d\a!X(]RSRl
l
yPX(l
}EXr[\l
b `X
]RX'p
\
b
hP]Rc:n
l
CH jKWhPi
UP]H\l
b h
[Xx\ bgb `X(a!X
XW!XjKhPW!XPVaSRlU4S b
)
\]h}ka![hW!X
CaSRl[(X4hVW+\#]RUPhPWS
a
b `X
a!X b n
hPVWsc
UPSyPX-\
]Rc
b `_\ b9b `SRa
WThPV
b `
b ^V
W!Xa`hP]c‚}EXga!X(]RX[ b X(cu[(hPl b W!SdV b XaGa!SUPlSz[\l b ]f
[hPW^Vaoa!`
b h
SRl
U
hPV]Rc?dOX
XGhj
b `X
"
S
`‚\La![hW!Xg\a<]h}
W!Xa`hP]c
b
`W@\aXa(n
i?SRlSim\#]Da[hPWX
b `X-a!S
) 06Sl[]VcSlU%^_\#SRW!a8}GS b
X
Six^]SR[(S b ]f9a!X b a
dJXw\
[Xc
b `
[hPW^Va1ix\
ixX(l b
X(yPX(]RhP^
`Sa8i?X b `hCc?WXcV
jKhPW7[(hPi?^_\W!Sa!hPlg}GS b `%hPV
aEch9lh b
[hla!ScXWa4\#a-^\W@\^
b `W!X(a!`hP]c€}+hPV
^_\#SRW!agWX(yPX\]Ra
b htdOX
b `i
b `XGcXyPX]hP^i?Xl b
`W@\aX=jKW!hPi
[X
X]f
]RS
b hmh b `XW4[hPi?^JhlXl b a4hj
X[Sa!ShPl
Va!SlU
X<[hPl6z_cXl
\WXmVl
cV[ b SRhPlwi?X b `h6c
^_\SW!a<}G`S[$`uS b
b `W!X(a!`hP]c
b `X-cXyPX]hP^i?Xl b
&
S[hPl?SRl
b `Sa4c
hPl]f
h b `XWB}EhPW!c
b `
^W!hCcV[(X‚\
\
\#a
fCSRX(]Rcar\‚yXW"f
SRaD^W!hd]RX(im\ b SR[#aSRl[(X
b `XB]h}
\#[[V
W@\[f
hj
XBafCa b Xien
a b X\c
^_\SW!a+}GS b `
9
\evNVS[
lhPSaf9]RX'p6SR[hl:n
X(a b \#d]RSa!`
b ^V
\9a[hPWX-h#j:\l5f~^\W@\^
\i?hPlUg^_\W!\^`W!\a!X(aoSRl
]RX'p6SR[hl
b `XBhPV
SRl[(]RVcSlU~SRl
XLz_Wa bBb WSRX(c
\l?\aa!Vi?^
b `X
[V] b fwSRlm[(hPi?^_\W!Sa!hPl
`SaEW!\SRaXa+\9cS
hP]Rc
b `WXa!`
V^u\
b `
h}+XyPX(W
W!Xa`hP]cta![(hPW!Xrhjo\[([X^ b \d]X%^_\#SRW!aJ]X\yCSRlU
b `
SRl
XWn
7\SRWar}GS
h b `X(Wn
b `
\#lc
hjVa!SlU
b `XB`SRU`Xa b
b `hPVUP`
b `SRasc
b `W!X(a!`h]Rc
[hPl6z_cXl
hPl
z_c
[X9a![hW!X6}G`XWX
X[Sa!ShPl€^W!XyPX(l b arV
j\SRW]fx[hPi?^_\WXBcSJXWXl b
b `Xu[(hPl
asjKW!hPi
afCa b Xi?a4hPl
Xl[(Xa![(hPW!X<}+XeVaXc
Sa<XvNV_\#]
[hPi?^_\WSRlU
b `
b h
b `
Xs]RX(lU b `
^_\W@\#^`W@\#a!SRl
h#j7hVW=hPV
b `X~[(hyXW!\UPXwhj
X9a!\i?XB]RX(yX]1hj7[hyXW@\#UPXn
b ^V
U
b n
b `X~a"fCa b X(ixa
"
;
sVW8UPh5\]MSRa
b h%X(y#\]RV\ b XG}G`X b `XWE^_\SW!a8Xp b W!\[ b Xc
^`W!\a!X(an
`X‚[hl b Xp b
a!Six^
dOX
b \a
]RX
n
}+h
a b S b V b \d]X
a!Vd
cX^OXl
b `
b X'p b
Xi
\^_\#W@\^`
_hPW%X'p
b `X
cX([SRc
b \#a
b h
Xc
\ bb Xi?^
SRl[(]RVc
K
}EhPW!c &b h
K
b W@\yX]RX(c
X
b X
Sl
b `
Sl
`NVa
X€[hPl b X'p b
Xr[(hPl b Xp b
}EhPW!c
X
I
cXl[f
b `X?[hl b Xp b
b W!\yX]Xc‚\]]OhyXW
b
V
\
XW
&j
lh b
cXaSRUPl
b `Xu}+hPW]Rc
^\W@\^
VaV_\]R]fmSl[]VcX(a-[(hPl b X'p b&
Sl
`hP^OXamhjBz_lcSlU
b `X4}EhPW!]c
b hrz_lc
\
6
d
V
b
\
K
XaG[hPl
b `
SRlU
X
VcUX€a!XX€hl]f
[(hPW!WX[ b ]f
b `XBjKhPWixX(W<hP^
b SRhPl
Sa
CSRl[(X
`W@\aXm^_\#SRWn
^_\W!\^`W!\a!X(aT}EX
hj=X'p b W@\[ b X(c
cX(^JX(lcX(l[(f
ix\f
VcUPX
b `X?\]UPhPW!S b `i
b `Xg[hPW^Van
jKhW%\eUPSyXl
\WX
b `Xx^_\W@\#^`W@\#a!XaL\]RahdOX
SRlU
X b `
`Sa-ix\
b `Xt`NVix\l
lh b
ix\f
\lc
cSR]Xi?im\eSRl
a`hPV]c
b
V
SluhVWXy\#]RV_\ b SRhPln lj\[ b \#lX(y#\]V_\ b SRhPlehjo\maSRi?SR]R\W
b W!\la!]R\ b ShPl
\]R]GhyPX(W
cX^OXl
\]}<\fCaGa!hPi?X b `SRlU~}GWhPlUn
b `X‚im\#SRl
a!Xl b Xl[(X%^_\SW!a<jKWhPi
b `Xx[hPl b X'p b
bgb h\a!aXaa
.$ %1 a
H n ) Zd
W!X
b `Xw]H\ bb X(WBhP^ b ShPl€SRasjKh]R]Rh}EXc:}EXwX(y#\]V_\ b XL}G`
lh b
}EXmcSc
TSRUPV
Sl
\^_\SWrh#j=a!X(l b Xl[(Xaw[hl b \SRl
W@\aXm^_\SWrhWra`hPV]c
T}+Xm\]RahXy\#]RV_\
Xl
b `Xm}EhPW!c
SRa~a!X(Xi?SRlU]f
[hPl b Xp b s
d
b \d]X€SRl|hPlX
]RX
\ix^
b `
b `Xfe\W!Xg^WXa!X(l b XcSRl‚SRahP]H\ b SRhPln
UPixX(l b n
Vc
j\[ b hPW
^OXWjKhW!i?a=^`W@\#a!X9\]RSUPli?Xl b
b \
Sl
b h
a b S b V
aXl b X(l[X(ama`h}Gl
\aG^_\W!\^`W!\a!X(a=}G`Xl
Sax}G`X b `X(W
&j
UPSyPXl
a!Vd
K
\WX\#[ b V\]J^\W@\
]RSR[\ b X(a
hj4^_\W@\#^`W@\#a!Xaw[(hPix^
h b `X(WL[hPl b Xp b a(n
SRl
\€[WS b SR[\#]<[hPi?^OhPlXl b
X(y#\]V_\ b SRhPl
l\ b VWX
}+hPWca‚[\l{dJX€jKV]]f
^]R\Va!Sd]RXx^_\W!\^`W!\a!X(a?Sl
[hla!ScXW
cXl b
\9UPSyXlm\]RUPhW!S b `i
d5f
) 0n
X]H\#ixX(c
GdV
b
b `XWX}+\a
lh}G`X(W!XB[(hPV]Rcx`XsUPX b
}G`_\ b
`XB}+\l b Xcn
TSUPVW!X H n ) I h
p
\ix^
Xy#\]RV_\ b X
]RX8hj_a!X(l b Xl
b `XevNV_\]RS b f
^_\W!\^`W!\a!SlU?^_\SRWa=jKW!hPi
]H\ b SRhlr[(hPW!^V
aq\lc
hj^W!hCcV[(Xc
b `Xr^\W@\^
4^\SRWaDjKWhPi
[XaoSlr}G`S[$`%}+hW!ca
^_\#W@\^`
\lc
.$ %1 W@\aXa<}EXe^SR[
`W@\aXa-^W!hCcV[(Xctd5fehPVW-\]UPhPWS b `
b `XElX(}Gaq[(hPW!^
Van
\W!XEa!Vd
Xc
i
\ b
a b S b V
W@\#lchPi
jKW!hi
X<\#]Ra!h4Xp b W!\[ b Xcw\-W@\lc
b `X
hPi
b \d]X
b W!\la
a@\i?^]RX
K
hj
b `X~a@\i?X%aS
}EhPW!ca(n
b `
Xi1\lct}+\ag\a
i?X\lSlU
a!X(l b Xc
hj
asa"fCa b X(i
X(]H\i?Xc
b h
Xc
X b `
XWBhPWsl
h b
l
Xp
\i?^]RX~hjEa!V
[$`
TSRUVW!X H n ) H
b `Xu}+hPW]Rc
\]R]GhyPX(W
Sl
b W!\yX]Xc~\]]NhyXW
X
a!hixX b `SlU~}GW!hPlU
b `
)
hPWcXWXc
4^_\SW!a
b h4]RSlUPVSa b S[
b `XrhPV
XLi?Sp6Xc
`XE\UPWXXi?Xl b
yXW!\UPSRl
U
[hW!^Va9}<\#a
V
b Xi
V
\
_hPW
n
b X(c\Li?XiLdOXWEhj
`Xw`NVix\l
aXl b X(l[X(ax[(hPl b \SlSRl
b SRhPl€cSa b hPW b Xc
U
b `
b `X~jKhPW!i
Ue^\SRWBSl
\
GdV
dV
Us\
b X(l b SH\#]Z[hPl b X'p b a9^W!X(a!Xl b Xc
b ash#j
b `X
b `W!X(XLafCa b Xi?aB\l
bTb `
dJX b }+X(Xl
cUPXa
a!SRl
V
9 >jKhPW a=hj
b }Eh
X(]H\i?Xc
\i?hPlU
b `X
b
X
K
^W!X
b `XWX}+\a
XW!X8}<\#aq\]}<\fCa
hPV
9\#^^_\=[hCX
XvNV_\]a
b `X%WXa!V
VcUPX(an
[SXl b
c
OW@\l
] b SlU
XWa8h#j
lUP]RSa!`Ll\SyX
b }Eh
d5f
<\a b X]R]R\l
XvNV_\]a
)A
X
chPi?]f
\[$`~Xy\#]RV_\ b hPW>^W!hyCSRc
& 6SXUPX(]N\lc
b h
b `
Vc
)
Xc
UPXa(n
0n
b `X(W!X~SaBlh
Sj
6n
b `Xrd\a!X(]RSRl
b `X9\[[(VW@\[f
ar\[[(VW@\[f
VcUPXLjKhWBX(y#\]RV\ b SlU
ctU5\yPX
[(hPW!WXa^JhPl
b ^JX(WjKhPWixX(c
VcUPX(a
^_\SRWs}+\a9X(y#\]V_\ b X(c
b `X
cUPXaB}EhPV]c
b `X(l
a!SUPlSz[\l b ]f
b `XBcX([SRaSRhPl
U
b h‚\
}EXWX=l_\ b SyPXEa!^OX\
hPi
[hPl b Xp b0ATb `NVa7X\[$`
b `
}+\a7i?X\#a!VWXc%V
\i?hPlU
b }Eh
^_\W@\#^`W@\#a!SRl
hP^JX(aqhjzlcSRl
b `hW!a7}EXWX<lh b
‚^\SRWag}GS
+hPi?^]RX b Xw\UW!XX(ixX(l b
sVW4afCa
b ^
`X=\#V
\UPWXX(ixX(l b
n
b hsaSprX(y#\]V_\ b hW!a\]R]Chj}G`
b `X(hPWfn
VcUixX(l b arhl
b `X
S
n
"
hj
Xs[hPW^Va=[(hPl b \SlSRlU%dJh b `
^_\W!\^`W!\a!X%a!Vda b S b V
\
b
X~h b `X(WB^_\W!\^`W!\a!X#n
`hP^OXamhjBz_lcSlU
b `X8}+hPW]RcLSlr`
TSUPVW!X H n ) H I p \i?^]RXLh#jEaXl
\lc . $ %1 ^_\SW
b `
VcUPi?Xl b 6
}+XBaVda b S b V
\]}<\fCaGa!hPi?X b `SRlU~}GWhPlUn
b `XLhPV b ^V
\lc
^_\W!\^`W!\a!X(a?\aL}+X(]R]=\#a
VcUPX%}G`
[Xn
jKhPW
b `X~aXl b X(l[X(ar}GS b `
b }+h
VcUPXgSRa=USyPX(l‚SRl
b W@\yX]RX(c
X
W!SH\ b Xs[(hPl b Xp b
^W!hP^
}GS b `
b `Xwa!X(l b Xl
hj
b hx\
b
V
^_\SWsSRl€hlX~hj
}<\aw^WXaXl b X(c
VcUX
b ^
X~hPV
hw^WhyCScXB\l‚\^
^_\W!\^`W!\a!SlU
b `
XLjKW!hPi
b `XaXB^_\SW!aC}+XBX'p b W@\#[ b X(ce\L^_\SRWEhjDa!X(l b Xl[(XaGjKW!hPi
X\#[$`eh#j
\
}<\a
(H 9
Xra"f6a b X(ixashl
hj7hPVW<a"fCa b X(i
\#lc
jKhPW
"
S
hPl
\‚hl]f
b }Eh
b `X
c_\ b \xa!X b a(n
)
9
b W@\la]H\ b SRhPl
n
sl
b `
X
lX}Ga-[(hPW!^
Va
b `Xg\[[(VW@\#[(f
`X€\#UPW!X(Xi?Xl b
ix\[$`SRl
SRasSl[WX\aXc
b W@\l
X
^_\W b S[V]R\W!]f
a!`
b X[$`
A K
W!V
b `WXXc\fCa
jKhPW
llSRl
b SRi?X<a!Sl[X=S b
U
im\
`W@\aXa(n
"
hPVUP`‚jKhPW
S
H 9
a=\[([VW!\[(fx}<\a
b \ b ShPl
\#lc
XaoSl[WXi?Xl b \]
b
`
}G`SR[$`
n
SamW!X\a!hl_\d]X
h b
] b
`SaxWXa!V
h b
b W@\l
b \a
a!XvNVX(l b
a!]H\ b SRhlx[(hPW!^V
b \a
hj
b `
XLW!\l
a=SRa+l
X
i?hPW!X
"
W!hVlca(n
b `_\ b
}GS b `
dJXuSRi?^W!hyPX(c
SRi?^W!hyPX(ixX(l b aZhPl?a!Vd
\ 6
}G`SR]XBhPVWGlX(}Ga-[hW!^Va-SRa=l
b `Sa~lX(}
a!XUixX(l b \ b ShPl:n
ix\f
sVW
b `Sa
jKhPW
a!X(yXW!\]G[\yPX\ b a
[$`_\lUPX(a?jKhW
VaXL[$`NVl
b `_\ b
\lc€a`h}Ga
i?h6cSz_[\ b SRhl
XW!Xu\WX
}GS b `hPV b
b h~h^JX(W@\ b XhyPX(WG\%]H\WUPX^\W@\]]RX(]_[hPW^Van
cXyPX]hP^OXc
Xl
h#jg[hPi?^V
^\W@\^
chCXal
}GS b `hPV
a!Xc
}+\a?W!Vl
^_\W!\^`W!\a!X%Xp b W!\[ b SRhPl€\#lct`SaafCa b Xi
afCa b Xi
\
}+\a
S
y#\l b \UXLhjohPVWs\^^Wh5\[$`
dOXeV
}EhPW!c
a~afCa b Xi
X(]H\i?Xc
"
_\#lc
0n
iLV] b S
VcUPi?Xl b
lSRvNVX(am[\#llh b
jKhW~^W!hCcV[(SRlU
9
}+\a
^W!X([Sa!SRhltSRa\m[]X\W\c
a!]H\ b SRhl
dOX‚lh b X(c
hPV]Rc
)
BhC[$`
\#lcSRaG\#lc
W@\aSRlU
\UPWXX(ixX(l b&Y
`
b `Xt^_\#W@\^`
hPl
W<afCa b Xi
hjDhPV
h b
S
\sSa
]R\W!UPX
b fC^S[\]1dS]RSlUPV_\]J^_\W!\]R]X]
\aG[]RX\lu\a-\
[hW!^Va(n
"
`XgX(y#\]V_\ b SRhPl
hj
b `X~^\W@\^
SRl
b `X(a!Xg[hPl
dOXrjKX\#a!SRd
hjD[(hyXW!\UPX
`W@\aXag^WXa!X(l b
cS b SRhPla6Sa
]fe\ll
Sl
b `X~[(hPW!^V
b h%^JX(WjKhPWi
5 J
"3 <!
3=
O0
*
"
)
<
b SR[SRa!aVXBcVX
an
VcUXn
b h
b `Xg]H\[
hPl‚\%^OhPW b SRhPlmhj
XL\#a
X(c
8* )
A
$
(
hjT\w[(hPi?^]RX b Xs]SRa b
)
b `Xs[(hPW!^
\x`NVix\l
D!
:*_
(<7">
0"&
('
b h‚Xa b SRix\ b X
^]R\Va!Sd]RX9}<\f
Xy#\]RV_\ b SRhl
\l
h b \ b Xctd5f\m`NVix\l
'q*1.(($
(-
VcUX
0*
A
b `Xw[hyXW@\#UPX
Va<}G`SR[$`‚[\l
b hmXp b W!\[ b
:>0
*
)
^\W@\
A
"
"
5
)
<0'&'
A
A
A
.
K
!<!*/&
)
0*3'G
<
* <;
(
-
(
0*
)
)
)
)
%
*s#$ = s"
o0#'7'oF(*/E <D".("s
*(s B'
I
)
)
)
* !
><!*/ 1
(<0'&'0(!O"2& Z0&:@.q
*D' * '
)
)
)
" 4 Go'
(
:00&
)
)
)
r+3 T"0
D
s ) $.q
(*>(7 P
o s.oG
H($.(o )
)
' <0'O
J
(M=70'&'"
0*
:" #J;" <!G <Z!
(=" )
)
)
>
q$>
<0!=o
*& =
4o <q 5".("
)
))
)
)
:Z )) *& ) <
(0
sSRa=\~^WhPd]RX(im\
A
"
A
^`W!\a!X(asjKW!hPi
b `
W!\lchix]f‚a!X]X[ b Xc
aXl b X(l[Xw^_\SW!a
:\l
Xa!X-^_\W!\^`W!\a!X(aZ}G`XWX4^WXcS[ b Xc?dNfwhVWo\]RUhPW!S b `ien
A
^_\W!\^`W!\a!X(a
&
)
6n
9
\lNV_\]T^\W@\^
0ohj
b `XZaS
X8h#j
\llh b \ b XaL\u[hPW^Va%V
}G`S[$`
a@\#VW!Va5}+X=ix\W
Xc?\]]
hPV
a!SRl
^_\SW!aqh#jJa"fClhPl5fCixaohC[[V
afClhlNfCi?asSRluW!X(]H\ b XctaXl b X(l[X(ar\#W!X9]RS
b h~Xp b W!\[ b=b `Xien
\d]X
S b
SRasl
b `
X-l
h b
[]X\W
b `X(W<]RX'p
X]f
b h
hPVl?afClhPl5fCi%fwW!X(]H\ b SRhPl
b hgXlaVW!X
[Xcu\Li?hPW!XsaS
b h€UX b
\tdOX b!b XW~X(a b Sim\ b SRhl
^_\SW!aghj+afClhPl5fCixar}G`SR[$`
H
6n
9
&H
9
& CH )
) 9
hj
"
I
a!hn
hPWc
\^^OX\WXc
X b
& wjKWhPi
}EX?a!X]X[ b Xc
b `
\
lX}
X4[(hPW!WXa!^OhPlc
\Wh}Ga
b `
f )
\#W b Sz_[SR\]
-a!SlU
b `
[Xa(n
b `X%\]RUhPW!S b `i
h b \ b SRhPl
b `
CSRl[(X
a`hPV]ctdOX
^_\W!\^`W!\a!X(a_dV b
yXl
W<ixhW!X
b h
lh b \ b SRhl
b X([$`lSRvNVXM\]R]h}GSRlUrVa
_W!hPi
b `X
uVlSvNVX
SRcX(l b Sz_X(c
b `_\lmhPl[X b `X[(hyXW!\UPXsSa
b `_\ljKhVWM}+X(W!XrcSRa[hyPX(W!Xc
SRUP`X(W
K
b `hPVU`?a"fCl
[hPW^Va7hPVW9ixX b `hCc
b W@\#la!]R\ b ShPl
b `ujKW!X(vNVXl[f`
SRa+i?X b `hCcmhjD\l
Ww\]RUPhW!S b `ien
hC[[V
an
K
b `X
SRa
Sl
0n
SRlU9^a!X(Vch
a!Vd
D
0 SRl
[(fD}+Xw^OXW"jKhPW!i?Xc
SRaBcX(^JX(lcXl
%(0/% >\lc
\l
X b n
im\f?fCSRX]c
b `X-\[([VW!\[(f~h#j1\ll
b `X
hPW!c
b `XB^W!XyCSRhPVaG\#llh b \ b ShPl
Sl
`X(W!X(jKhW!XO}+X~[\ltlh b
AOb
+hPlaXvNVXl b ]f1}EXw]RSRi?S b XcehPVWa!X]yPX(a
[hyPX(W@\UPX‚hj-hPV
H 0n CfClhPl5fCi?a}GS
jKW!hPi
\]RX +`NVW![$`6\lc
\lc
X
hPVW+\]RUhPW!S b `ien
0o^_\W@\#^`W@\#a!Xa(n_hPWEa"fClhPl5fCixa<}G`S[$`
b `Xg[\#a!Xa
SRl b W!hCcV[X(a
b `
hj
h‚jKVW b `XWgSRl5yXa b SRU5\ b X
b X(a b
b `_\l
\d]RXa@\i?^]RX
W@\aXa
hPl5fCixa+^W!hCcV[(XshPl]fm\9jKW@\[ b SRhlmhjD\]]M^JhPaa!Sd]RX4^_\W@\#^`W@\#a!Xa
^Wh6cV
) ) VcUX-X'p b W@\#[ b X(c
W!W!SlUBSRl%^_\SRWaqhjJ\]SRUPlX(cLa!X(l b Xl
a+SRl
W!X]R\ b ShPla4ch
}G`S[$`
b `X(a@\VWVa
SR[
dOX%^_\#W@\^`
S[\]OW!X(]H\ b SRhPl
ix\l5fehj
XZVaXc%\l9\] b XW!l\ b SyPXqXy\#]RV_\ b SRhPlBi?X b `hCc
b `XxX]X[ b W!hPl
U
`X4`NVix\l
b SRi?Xr[(hPlaVixSlU
W1a@\i?^]RX#n
[(hPVl b X(c€`h}
b Sz_Xc‚\#a+^_\W!\^`W!\a!X(a=d5f
h b \ b SRhPluSRa-yPXW"f
`W@\aX~\ll
a!SUPlSz_[\l b ]f4SRl[(W!X\#a!X
) ) %}+X(W!XBScXl
b `X(a!X
b `X(l
c
a b S b V
b Xc
b `X<zW!a b
^_\SWmhjg^\W@\^
K
}+hW!c:n
>
q#$1>;13>I &
S b
}GS b `
^a!X(Vch
aXl b X(l[X4hj
`W@\aXa
o".
(0 <">">
XwjKh]R]Rh}GSlU
K
hj
Xl[fm]X(yPX(]Ra
)
}+hPWc
b `X=^_\SWn
[(hPla!Sa b SRlU
_hPWZa!XyPX(W@\]MjKW!X(vCV
\
b `
b
X b S[
X )
A
`SRaZaVda b S b V
b ShPl
b `X€hPWSRUPSl_\]G\l[$`
hPW
& ) H ) 10 P}EX
E: A A :

& 6[$`NV
afCl b `
?\l[$`hW!a4}G`
a!X(]RX([ b X(c
\]]Dh#jES b a4h6[([VWW!Xl
j b XWBXyPXW"f€a!V
hjJim\#a
9
n
0n
n
[$`hPW!a4\ b
U?ix\l5f‚\l
`
XBUPW@\^
`
b Xa b Xc
W!Vl1}EXwim\c
}G`X b `XW
}G`S[$`
h6[([VW<hl]f
jKWXvNVX(l b
SRl
b }GSR[(XsSRl
a b \ b Sa b SR[\#]qim\#[$`SRlX
b `
b `X(SRWqjKWXvNVXl
h b X
b `_\ b
dOh b `
b h
b `Xs[(hPW!^
X(la
a"f6l
sVWo\#]RUPhPWS
[(fPn
b `i
K
}EhPW!cn
X(c
^_\SRW
h
\ b
&
\^
\#lc
X b
W!h}Gl
^JX\WGhPl]f
9
)
\#]n
b SRi?X
\
&
a!X(X
hj
hPd
b SRi?XaGhPWGixhW!Xn
W
b `X[\aXan
(H10chulh b
&
`X
^_\W!\^`W!\a!X(a
l
j\[ b 6
im\l5f
\ b!b X(ix^ b9b h
X(yXl
b SRi?Xa(n
\LjKX(}
\l[$`hPWwa!\ix^
ch6X(a8\gUh6hCc
SRaLlh bLb X(W!W!Sd]RX
Va=\WXsW!X b W!SX(yXc‚SRl
b `_\ b
hPl5f6i
b `X~im\#a
b Xc
XB\yPXW!\UPXglNViLdOXW<h#j7WX b W!SRXyPX(cu^_\#SRW!a
`W@\aXawSRa%]Rh}+X(WZdV b
^\W@\^
b W!\la]H\ b SRhPl€a"f6a b X(i
^WXcS[ bGb W!\la!]R\ b ShPla<h#j
^aXVc
da b S b V b SRhl
X~hPl]fhPlXwa!V
WX b W!SRXy#\]1W@\ b X0=SRleXp b W!\[ b SRlUx^_\W!\^`W!\a!X(a4}G`S[$`t\^^OX\#W-jKhPV
^OXWjKhW!ix\l[XmhPl
SRlU
hPl[(Xr[\le[$`_\lUPX9^OXWjKhW!ix\l[XBjKhPWGh b `XWGWX\ahPla
l[ b SRhPlwhj
X(cm\#l[$`hPWaE\#ao\BjKV
b `XL[(hPW!WXa!^OhPlc
\lc
TSUPVW!X H n ) ~a!`h}Ga
SRl
b `X9[hW!^Va\lcua!Vda b S b V
jKWXvNVX(l[(fuSRl
b `XL[hW!^Vas}GS b `
X%hj
_hPWX\[$`
\#aBSRcX(l b SR[\]n
a!Sl[X9W!X(ixhyCSRl
H
[XaBSlthPlX%a!SRc
b `_\ b
da b S b V b SRhl}EX?W!\l€hPVWs\]RUPhW!S b `i
}+\agSRcX(l b Sz_X(c
a!X([ b SRhPl
SR[$`t\#^^JX\WG}GS b `
]RSRl
Ut^W!hCcV[(X
[hPl
a!SRa b X(l b
WXa!V
] b awSl
b X(W!i?aGhjTWX b W!SRXy#\]:[hyXW@\#UPXn
sVWe\]RUhPW!S
b `i
^JX(WjKhPWixa
V
lSjKhPWix]f
sXa^S b Xsix\l5fmcS X(W!X(l[X(a-dOX b }EXX(l
\a^JX([ b
X9c
b `XfwdJh b `x[(hPl b \Slm\BaSRUPlSz_[\#l b
X^OXlcX(l[(fedOX b }EXX(l€\l[$`hW-c
CSRl[(X
[WX\ b Xc
b h
b `XaX
b fC^JX-hjJ[hPW^JhW@\ghPVW8\]RUhPW!S b `i
}G`S[$`
b `
}EX]]BhPl
}EX
ch
lh b
`_\yX
b }+h
b `X
b W!\la]H\ b SRhPla‚\#lc
b fC^JX(aGhj>[hPW^JhW@\
\i?hPVl b
hj:\l[$`hW!an
b `X%c
XlaS b f‚\l
W!X\]Bc_\ b \
Xa!SW!X(c€]RX(yX]Dhj8\l[$`
b `X(f
c\]UPhPWS b `
i
h9dJX-\d]X
hPWcX(la!S b fPn
hPl
b h9^W!X(cSR[ b
X
hPl
b h9SRl5yPX(a b SU5\ b X
^OXW"jKhPW!ix\l[(Xn
}GS b `{cSJXWXl b
b `
lX(}Gae[hPW^Va(n
\W!Xa!SRi?SR]R\WoSRl
}GSR]]^W!hCcV[(XGUPh6hCcwW!X(a!V] b aN}EX4lX(Xc
a"fCl b `X b SR[4c_\ b \gd5f?im\aNSRlU9a!hPi?X-^JhPW b ShPlwhj
\[$`SRXyPX
b `X
X4X'p
]RX(yX]auhjL\l[$`hWucX(la!S b fs}EX
Sa b SRlUr\l[$`hW!a+SlxhVWE[(hPW!^
X%^OXW"jKhPW!i?Xc\ltXy\#]RV_\ b SRhPlehPl
Va
b `W!X(X
)
100
"coverage.dat"
90
Coverage
80
70
60
50
40
30
0
2
TSUPVW!X H6n ) I ,
4
6
8
10
Frequency
12
14
hPW!aehPl|cSJXWXl b
X b W!SX(y#\]BW@\ b X€jKhPW‚\l[$`
16
18
20
&
jKWXvNVX(l[(f|]RXyPX(]
^a!X(Vch
K
}+hW!c
Xp6^OXWSRi?Xl b a 0 n
]RXyPX(]Ra9hj=cX(la!S b f
W@\#lchPi
a!\ix^
`XgW!X(a!V] b aGhj
]RSRl
U
n
nH n6
n
hPl
a`h}GlSl
}G`SR]XBcW!h^^SRl
b ^V
XmhPV
^_\#SRW!aB\lc{SRl
b `XgXy\#]RV_\ b SRhPl
W!X\a!hl_\d]Xg\[[(VW@\[f
`
l[$`
hPW
b
}<\#a
b X(a b Xc
Sl
b X(W!i?auh#jL[hyXW@\#UPX
TSRUPV
H n)
W!X
b X(W!i?arh#j=\[([VW!\[(f
hj
a!VUUPXa b-b `_\ b
hW!c
hPV
X b
afClhPl5fCixa(n
W-i?X b `hCc
U?Sl‚[hyPX(W@\UPX#n
sXlaS b f
+hyPXW!\UPX
H 9
9
9
)
n
) n
TSRUPV W!XEH n ) JI DXW"jKhPW!ix\l[(X9hl
9
H
9
9
b `XgcSJXWXl b
}GS b `
[[(VW@\[f
H 9
9
9
]RXyPX]aGhjq\#l[$`hPWGcX(la!S b fPn
a!Va b \Sla
`X-\[([VW!\[(f~h#jhPV
^_\W!\^`W!\a!SlUm^
b `
;
WZafCa b Xi
hPV
b ^V
b
b hr\#ccW!X(a!a8vNVXa b SRhla8\dJhV
\]]Rh}GaqVa
b X(Wl\ixX(]f‚Sa!a!V
b `XL^WX(yCSRhVa[$`_\#^
`XlhixX(l_\x}EXL^Jha!XcSRl
bqb `
XrcX([hPi?^OhPa!S b SRhle`5fC^Oh b `X(a!SaO]RXp6S[\]1i?X[$`_\#lSRaixaGfCSRX]cSRl
U?^\W@\^
X-l\ b VWX=hj
XasWXU5\WcSRl
`W@\aXa4\lc
U
b f6^OXa4hj
[hix^OhPa!S b ShPl_\]OW!V]Xa(n
b ShPlL`5fC^Jh b `X(a!SRa(n
X4^WX(yCSRhVaE[$`\^ b X(WN}+X4^W!h^JhPaXc
b `
l
`Saq`5f6^Oh b `XaSRaZa b \ b X(a
h b `XW[\l
hj8X\#[$`
b `\ b
\^_\#SRWTh#jMa!Xl b Xl[(Xao}G`SR[$`w\WX<^_\W!\^`W!\a!X(a
b fC^SR[\]R]fedJX~cX([hPi?^OhPa!X(c
^_\W!\^`W!\a!X(aZhjOX\[$`wh b `XW(n
b `\ bob }+hLaXl b X(l[X(a+}GS b `
K
b `X-cX([hPi?^Jha!S
Sl b h
lwh b `XWT}EhPWcaNS b
^_\SW!ash#j8}EhPWcaghPWs^`W!\a!X(aB}G`SR[$`
&
SRa7Vl]RS X(]f
b `X-a@\i?X4i?X\#lSRlUgch9lh b
b h
\[([hPWcSRlU
b `
\WX
0
SRaq`5fC^Jh b `X(a!SRa
[hl b \SRlw}EhPW!caEhPWo^`W!\a!X(aE}G`S[$`
\WX
^_\W!\^`W!\a!X(an
ZWX(yCSRhPV
jKW!hi
a!]f}EX
b X(a b X(c
hPVWo^_\W!\]R]X][(hPW!^V
a\#lcmX'p\#ixSlSRlU
SRl‚X\[$`^_\#SRW=hj7a!X(l b Xl[(Xa(n
a!X(l b Xl
[Xa9}GS b `
b \ N
SRl
b `Sa`5fC^Jh b `XaSRaBd5f
4aSRlUr\V
hPVW4\l_\#]fCa!San
ix\lNV_\]:X'p
hjG]SRi?S b X(c
hC[[V
[Xa9VaV_\]R]f[\llh b
]RXl
X
b hPix\ b S[\]]frXp b W!\[ b Xc
h}EX(yPX(W:}EX%[\llh b
^OXWSRi?Xl b ajKhPW
W!W!SlUwhPl]f
U b `
A
b }EhxWX\ahPla(n
aX[(hPlco\a9}+X
hPl[(XgSRl
b `NVa?Va!X(c
Va!X
b `Xg[(hPW!^V
\€cS X(W!Xl b
`\yX
b `X-^_\W@\#^`W@\#a!XaE[hPl b \SRlX(c
z_WixX(cuhVW=`5f6^Oh b `XaSRa
l_\#]fCa!Sa-[(hPl
dJXLjKV
b h
a!`hW b
\
^_\#W@\^`
K
]R\W!UPX(W
7SRW!a b hVWG\]RUhPW!S b
a!a!X(coS b
K
^`W!\a!X(a1}G`XWX\a9SRl6jKXW
`
X
b SRi?X
K
[hPl
z_Wim\ b SRhlthj
b h%X'p b Xl
W@\aXa=\]]Rh}GaoVa
b X[$`
I
b `XBjKhP]]Rh}GSRlU%Xp b X(l b
a![\#]RX%[(hPl
b `Xra@\i?X%\#l_\]fCaSRa
cSa![V
b h
]R]fecX([hPi?^OhPa!X(c:n
l_\ b VW!X~h#joim\lNV_\#]q\l_\#]fCa!Sas^W!h`SRdS b X(ctVasjKW!hi
^Oh b `X(a!San
a@\#ix^]Xrh#j8\]RSUPlXcua!X(l b Xl[(Xa
\
b `X4UW@\lNV]R\W!S b fLhj
ScXl b SR[\#]Ti?X\lSlU‚\WX~cX[(hPix^OhPa!\d]RX
Xl b SH\]]fea!SixS]H\WGa!X(l b Xl
U
c
a!Vi?SRlU
b `X-a![(hP^JX4hj
lSRvNVX(aB\a4}EXLcScSl
`ikhPl]f
ixSa!aXa%ix\l5f
K
b `Sas`5f
b `
X
X'p b W@\[ b aG^_\W!\^`W!\a!X(a
hj
b `X
^_\W!\^`W!\a!X(a
an
\^^
W!h5\[$`
b h
b Xa b SRlU
b `X‚cX[(hPix^OhPaS b ShPl
`5fC^Jh b `XaSRa
(H
V b SR]RS
}G`S[$`
\
b `Xx\V b hPim\ b SR[\]R]feXp b W!\[ b Xc
X(c
b hmdOX
cXz_lXc
Xl b Sz_Xc
c
\l
b `X-lCV
^_\SW!ao^]Va
]H\#^
A
\l[$`
XlaS b f
b hu[\^
Xc
\]SRUPlX(chlw\z_lX<]X(yPX(]n
cX([hPi?^Jha@\d]X
A
b `
\l
b VW!X
b `
b ShPl~hjJXp6SRa b SlUg^_\W@\#^`W@\#a!Xa(n
}GS b `L]Rh}
jKWXvNVXl
6SRl
SRl
UP]f b `
X9c
cX(la!S b SRX(a
\lc
b `
SRaLaVda!X b
SRa b W!SdV b ShPl
b Xlc
Xc
X~SRlcS[\ b Xa
ix\SRl]f
hjo]S b X(W@\]]f
hj
b `
cX(la!S b SRX(a<dOX b }EXXl
n
l b
hjZSl
W!X(a!V] b a-\WX9[(hPlaSRa b Xl b
}GS b `
SR]RX
^_\SW!Xc
hPW
K
l b VS b SyX]f b `X-hyPXW
dOX
j
dVlS b ag\WXw\]RSUPlXcn
K
b hsa!X(l b Xl
[Xao}G`S[$`~[hPlaSRa b
b `Xg[hW!^Va(n
hyXW]H\^
S b X(cu`
n
6n
`XB`
b `X%]Rh}
a!X(l b Xl[(XaLjKWhPi
b `
`W@\aX
] b fLWX b W!SRXyCSRlUg^_\W!\^`W!\a!X(a
[V
cXl
UrSlm\9]RhChPa!X(W8aXlaXn
b `hPaXrhPd b \SlXc
b h b \]
SRcX(l b SzXaE\9aVda b \l b SR\]OjKW!\[
jKXWXl[(XLhPW4\^^]SR[\ b ShPluh#jq}+hW!]Rc
ixX\lSlUudOX b }EXX(l
b `X
b `XxlNVi%dJX(Wrhj+\l[$`
cX(la!S b f
SRUP`
}+\a
n
y#\WSH\l[(Xn
W!hPVU`
SRUP`
cX(la!S b f
n
.K
l b XWXa b
le^_\W b SR[(V]H\#W
n)
hPlXG}GS b `mcX(la!S b SXa8dJX b }+X(Xl
\lc
b W@\#la!]R\ b X(cta!X(l b Xl[(Xa>}G`
^OXWjKhW!i
b h
b `_\ bTb `X<aXl b X(l[X(a+\#W!X<lh b
\]]Ta!V
`\aocS
a!S b SRX(a=Xp6`SRd
b }Eh%UPWhPV^a
b `X-a@\i?X-ixX\lSRl
a!SixS]H\WS b fuSRl
i
b `X‚\yPX(W@\UX
X9hyXW!]R\^‚cXl
hj1aXl b X(l[X(a=`_\yCSRlU
a!hPi?XL\#ixhPV
b `_\ b
b `X\]RUhPW!S b `i
]X\a b=b }GSR[(X9Sl
hj-a!Xl b Xl[(Xa
b hrj\]]_SRl?hPlX-hj
b `XBh b `XW<}GS b `
SR[\ b Xa
XWhBSRlc
[XGhPVWo\]UPhPWS b `
[hix^]X b X]fxhj7}+hPWca-\^^OX\WSRlU?\ b
sl
hPl
b `X?^_\SWBhj+aXl b X(l[X(aL[\#l
}G`SR[$`
b `X+[hPW^VaP}EX<WXa b W!S[ b X(cwhPVWq\#l_\]fCaSRa
[(f~Sl
0
^_\SRWhj+ScXl b SR[\#]T}+hW!caDhWg\‚^\W@\^
XlaS b fLh#j
[hVW!aX b `SRaocXz_lS b SRhlxSa8hl]f~i?X\#lSRlU#jKV]_Sj
SRagd_\aXc
b `X%aXl b X(l[X(a9^\SRW
XctSl
XxX'p b Xl b%b h
XlaS b f€hj8hPl
c
W!h5\[$`
X~hyXW]H\^€cX(la!S b ftSa
`
[hPl b \#SRlX(cmSRlx\lx\l[$`hW+^_\SWn
l~hyPX(W!]H\#^?c
hyPX(W!]H\#^
`SRa9\^^
b h b \]ZlNVi%dJX(W9h#j<VlS b agSRa
X
iLdJX(W+hjJ}+hW!caElh b
SRagSl b Xlc
[hl b \SRl
hPWB^_\SWBSRaBXS b `X(Wg\
b `Xx\]RUhPW!S b `i1\lc
d5f
&
W@\aXan
^_\SWhjoaXl b X(l[X(an
hj8\
b `X%W!\ b ShxhjZ\l[$`hPW4^_\SW!a
lNViLdOXWghjEVlS b a
SRc
+? $ #(4 2)-1
b `X
i?X\aVW!X%}EX~[\#]R]
^_\#W@\^`
UPWhPV^
\#lc
n
[(hPla!Sa b Xc
a!S b fuUPWhPV^t[(hPl b \SlXc€^_\#SRW!a
fC^S[\]]fChlX-}EhPV]cmlX(Xc
Cl
b `X?]Rh}
h}G]XcUX
c
XlaS b f
b hxSRcX(l b Sj f
UPW!hV^:n
b `Xgim\#lCV\]1\l_\#]fCa!San
b h
b `
`X(a!X
X
W!X(a!hPV
W!hyCSRcX‚[]R\a!aSz_[\ b ShPl
W![X(ax^
hj4]RX'p
S[h
K
a!X(im\l b SR[
S]R]RX(W\lc
b h
VW!\]
W!X(]H\ b SRhPl
\l_\#]f
b `
X
i?hPa b
hP]Rc
)
hy#\l
b `Xa!\VWS4\#a?ahPVW[XawjKhPW~^_\#W@\^`
a9Sl
b `XaX
W!X(a!hPV
X9jKh6[(Va!X(c€hPVW4\l_\]f6aSRa-hPl
4Y S b fPn
\ b
]X\a b
hPWc
b SixX(a%SRl
X b n
lU]RSRa`:n
b `XSW
hPW!c
9
a!`
`X%[V
X b9b WXX
^\W@\^
hPW b Xa b
lc
b h
SRcShPafCl[(W@\ b SR[#n
\W!X?lh b9b \#SR]RhW!Xc
b SRlU
b huhPl
SRl
b `XrW!Xix\SlSRlU
b `_\ b
dOX b }EXX(l
}+hPWcamjKWhPi
9
sd5yCSRhPV
b `SRaBi?X\#la
a!]f
b
V
p
Sl
9
\
b h
09^_\W!\^`W!\a!X(a
b WXX
b `X`NfC^OXWhPl5f6i
[ b
Xam[\l
an
dOX^\W@\^
h6cX(aryXWf
j\W9\^\W b
hPW!S b fthjE}+hPWcar\ b
lh b SRhPl
a!V[$`
\
`X(a!X
]fea!hPV
\]a!h
b htX'p b W@\[ b
^_\SRW
b `W!X(a!`h]Rc
cSRa b SRl
dJXxVa!X(c
SR[$`
b `_\ b4b `X%SRcX(l b Sz_X(c
a"fClhPl5fCi%fSalh b4b `X%hPl
X
^_\W!\^`W!\a!X(a~dNf
\WX%[(hyXWXc€d5fh b `X(WW!X(]H\ b SRhPl
l
b `
\i?^]RX(arh#j<^_\W!\^`W!\a!X(a
0o\W!X4a!Sd]RSlUPaoSRl
lh6c
b XW!i?aGhj
W!SRaSRlUeX\#[$`
XxjKW!X(vNVXl[f
}G`_\ b
SRa-hPlXrhj
b `_\ b
b `Xwim\
lh b
a!VWX
K
aXXi?a9l_\ b
Nlh}
b h
b ^
sl]f & H
n
b `_\ b9b `X~[hixi?hPl]fVaXc
b }Eh€lhCcXa%[\l
Xl
b `
Xx[(hPl b Xp b n
7SRUPVWX H n ) 9
b h
\W!\d_\USRV
`W@\aSRlU^_\SRWaD}G`
\a%[hPWW!X[ b
X?VaX
W@\aXa%[(hPlaSRa b SRlU‚hj+}+hPWcagjKW!hPi
) ‚]SRl Na(n
c
Xl b Sz_Xc
x}<\#aB[$`hPa!X(l
hj
y#\]RSc_\ b X9hVW4Sl b VS b SRhl
^_\#W@\^`
`W@\aXaT\l
^\ b `
lh b
\lc
b XcJ\lc
) ) -^\W@\^
}+hW!ca(n
b `SRagvNVXa b ShPlT}EX
cW!X(a!a
b `_\ brb `X?}+hW!ca~[(hPix^
Xa!X‚^_\#SRW!a9}+X(W!X‚SRc
W!X]R\ b ShPla%\W!Xxa!`h}Gl
<aVUPUPX(a
j\#[ b >
}EX?jKhPV
[hPi?iLVl
H & H 9 0Z\WX`5fC^JX(W!hPl5fCi?a & )
0G\W!XrVlW!X(]H\
^_\W!\^`W!\a!SlU
lh b
X b
W!XavCV\l b S b \ b SyPX(]f
hPW!c
UP`
X
hPVWr[hPW^VaLaV[$`
b `
]R]Ehj
b `
&
X b aSRl[(X%S b
hPW!c
UP]RSa!`
aDS b
lXX(c
`W@\aXa4SRlehPVW-hPV
b `SRa7vNVXa b SRhl}EX<a!X(]RX[ b X(c
i?hPW!X8SRlaSRUP` b aThPl
\WXafClhlNfCi?a
^_\W@\#^`W@\#a!Xa9}G`SR[$`
) ) & ) ht\c
X b4b `X(a@\VWVan
`hP]RcedOX b }EXXl€^\W@\^
`CV
}EXuhl]f
`W@\aXa(n
hPW!c
^_\SW!ar\W!X?UPX(lXW!\]oXlhPV
\lc
[Xm^\W@\^
b `_\ b
l_\ b SyXLa!^OX\ #
XWBhj
l
^Wh6cV
b fC^JX(ahjqW!X]R\ b ShPla
\^^OX\#WLSRl
W![X(aL[\#l
A
W@\aXa
l
crWX(z_lX(c
100n
hy#\l
X(c
W!W!X(c
a!X(]RX([ b
hP]Rc
b `XaX
jKWXvNVXl b ]f‚VaXceW!XahPVW[Xa4SRl
hC[[V
\W@\d\UPSRVt\lc
VaX
hBUPX b
z_UPV
A
[W!X\ b X(c‚]RXp6S[\]
WX]H\ b SRhlaLdOX b }EXXl
`X(a!X8W!XahPVW[Xa7\WXo}GScXZSRlBa[hP^OXE\lc9\W!XZ[(hPla b \l b ]fBXp b XlcX(cL\l
K
Vi?XW!hVaGim\lNV_\#]R]f
W![Xrhj
`W@\aXa(n
SRl
b `
cSa b \l[Xx\WX
X
hj8cSa b \#l[X?\a
^_\W!\^`W!\a!X(a%jKW!hPi
b `
X
b `
X
hPW!c
X bGb WXX#n
cSa b \#l[X}G`
SR[$`
Xglh b X
le\c
b `XglXp b
X(cuSl
Nf6l
TSRUPV W!XEH n ) I
b }Eht[\ b XUPhW!SRX(a
SRl
l
K
lhVl
^`W!\a!X#n
I &
b Xc
Y
X'p
I &
hPa b Xa!a
XfPhPlc
^`
\c
I &
a!S[
\W!WSRa
)
W!X
W!V
]RXa6aSRl[(X4}EXhPl
b
f`
0 & ^SlX
SRWXc 0 & lX'p
b h}Gl
`h b
zW
b
W@\aX
\lc
`
hj
XBXp b W!\[ b Xc
K
0
}+\W!i
0 &
WX^]fa!\f60
0
b `X(l
0
`W@\aXaGXp b W@\[ b Xcud5f
[hix^OhPa!S b ShPl_\]-W!V]Xa
X([ b SyPX
K
lhPV
X]RX b ShPlaL\#lc
c
&
b XlaX
a-Sl
Xa!XgWV]RX(a<im\ b [$`
b V
]H\#lc]H\#c
[S b f
`X
lhVl
0 &
b `X9\]UPhPW!S b `ien
X'p b W@\[ b X(c
K
Sl
X#nU
n-^\a b
)
cX(UPW!X(Xeh#j4hyXW!]R\^
d
0n
^_\W!\^`W!\a!X9[]R\a!a-cX(a![WSR^
`X(W!X(jKhW!XE}+Xe[\l
b SRhPl
h}EX(yXW
b `
lh b
\W!WSRa
b SRhPl
a\l
hPVl
^
`W@\aX
b \ b ShPlaw\l
}GS b `
j\]R]
K
b W@\la"jKhPW
WX(}GW!S b SlU€hj
c
\ b!b \[$`X(c
^WX^OhPa!S b ShPl_\]
b ShPl_\]ZWV]RX(a%cX\]RSlUu}GS b `
yPXWd
}GS b `
\eUPX(W!Vl
yPXWda
K
`XwjKV]R]Z]SRa b
c:n
hj
n
a<hjDafCl b \[ b S[sW!V]Xa+jKhVlc
X9WV]RX(a=}+X9Xp b W!\[ b
a"fCl b \[ b SR[4W!X^
^_\W!\^`W!\a!X
W!XaXl b \ b SRhl:n
hl b hP]RhUf
\#a!a!X(a!ax`h}
im\#lNf
SRl
aSRl[(X
b `Xs]SRlUPV
\?^\W b SH\]J]RSRa b
\WXghPl]f
c^_\W!\^`W!\a!SlU?W!V]XaGSRaGlh b
\[([VW!\ b X(]f
\#]RUPhPWS b `i
X
[hPl b SRlNVhPVa4SRl b hx^_\a b4b XlaX0 J
[$`_\lUXasSli?h6c_\#]
TSUPVWXEH n ) cX(a![WSR^
7[(hPix^OhPaS
b \ b SRhPl
z_lS b SyPXw^_\SW!agSRl b hu\
]fwW!X(]fwhPlxa!`_\#]R]Rh}
}GS b `
\€lhPVl
b `
d5f
b W@\la"jKhPW!ix\ b SRhPla(n
yPX(W!d
^\SRWa~SRl b h
l
^OXW!i%V
b X(ix^]R\ b X(a=SRa=a`h}GlSRl
`
W@\aSRlULWX]R\ b ShPl:n
h b ShPl
hjTaV[$`€\~i?X\aVW!X#n
W!SRaX_a b \lceV^
S[\]1^\W@\^
WX(}GWS b SlU‚hj8yPXWd
Xp b W@\[ b Xc
&
^_\SRWaw\lc
[hyXWB\] b X(W!l_\ b SRhPl
S b f€\lc
b `Xs^_\#W@\^`
y#\W!ShPVa~[\#a!Xa?hjixhCcSzXWLcX(]RX b SRhlaE^JX(W!iLV
ix\ b ShPlaLSl[]VcX
lhPV
I &
fC^JX(W!hPl5fCixa
-lW!X(]H\
SR]RS b fmh#jZ\lh b `X(W-l
X9^OhPaa!SRd
a!X([ b SRhPl:n
hPl5f6i?a
CSRd]SRlUPa
b `
b hw]RXp6S[\]J^_\W@\#^`W@\#a!Xa_hPVW=\#]RUPhPWS b `ikXp b W!\[ b a-[(hPi?^JhPaS b SRhPl_\#]O^\W@\
cS b SRhPl
^`W!\a!X(aO\l_\#]f
b `XgcX(yX]hP^i?Xl b
jKhW!i
b X
W!XjKV
b h
[hW!W!X(a!^OhPlca=i?hPWX[]hPa!X(]f
^_\W!\^`W!\a!X(a4[\l‚SRl
b `\ b=b `SaGch6X(aGlh b
b `X
X4[\l
lh b
hjTXp6SRa b SRl
[hPi?^V
b X
ix\^^SlUtdOX b }EXX(l
hPd5yCSRhPV
a
&
a!XXr^_\UPX
W!V]XawhPVW?\]UPhPWS b `
i
K
SRa b SR[G]RS b X(W@\
b `
U
X
`Sa
6n n 0n
Sa~ixSa!a!SlUn
6Sl[X?hPVWr\]RUhPW!S b `i
a!X(l b Xl
K
[X
Xp b W!\[ b aLhPl]f€W!V]Xa9Xl[(h6c
]RXyPX]6W!V]Xa>a!V
[$`L\a
]RX'p6SR[\#]D[(hPla b W@\#SRl b a4hPl
b `XaXrSa!a!V
X9]X\yPX
jKW!hi
c
n
]RX'p
K
S[h
b ShPl_\]
ajKhPWim\ b SRhPln
X8\]RahGcSRcl
/b
b `
]RX\W!l
X
SR[$`tSa4X(a!a!X(l b SH\#]TSRleix\l5f\#^^]RS[\ b SRhPl
an
W!XB}+hW M
n
b V
an
W!V]Xan
S b ShPl
X=jKhPVl
c
b h9a!SlUP]X
b `_\ b
Xa!ScXa
UPhPWS b `iun
b `
^_\W!\]R]X]
lc
b `_\ b
Xl b Sj f
K
^OXW"jKhPW!ix\l[(X
b W@\la]H\ b SRhPl
] b S
K
hj &b `X
K
\W b
Ug\9[(hPl b SRlNVV
ao\]RhPl
b h~[hix^_\#W@\d]X4[(hPW!^OhPW!\
K
hPl
K
hPV
W
}EhPW!c
K
\aZ}EX]]M\aEX'p b W@\#[ b ShPlwhj:[(hPi?^JhPaS
[X~X(y#\]V_\ b SRhPlJ}+X?\]a!h‚a b VcSRX(c
b `Xg\l
b V
[$`hPWGcXl
a!S b f
b `Xw\]RUhPW!S b `ien
X+\]Rah-jKhVlc
b `XSW<jKW!XvNVX(l[(feSl
b SzXa<ix\SRl
luhdNyCShPVa=jKV
]Xp6SR[(h
`W@\aXa
b ^JX(WjKhPWixa<a b \ b X
W@\aX+\[(vNVSRaS b ShPlr\]RUPhW!S b `ien
sVW<\^^Wh5\[$`‚SRcX(l
^OhPa!S b SRhl_\]
b W!\la!]R\ b ShPla
SRX(yXaw`SUP`
K
[hPl b Xp
hl
\]]Rh}GaZjKhPWoSRcX(l b Sz_[\ b ShPlwhj1iLV
h6cw[\#lx`_\#lc]RX
b `X~[(hyPXW!\UPX~hj
^_\W!\^`W!\a!SlUw^_\SW!a=Sj
b ShPl_\]W!V]Xan
}EhPWc?^\W@\^
\~cX([WX\aX9Sl
\[([VW!\[(fDi?hPa b ]fu\JX[ b SlU
jKhPW7\4^_\#W@\^`
W@\aXa~\[$`
d_\#a!Xc
n
i
hj
Xs\]RahLa!`h}EXc
{b X([$`lSvCV
Xa4\^^]SRXc
b h
b \a M
n
X~^JX(WjKhPWim\l
XBjKhPV
K
ScXl b Sz_[\ b ShPlwhj1^_\W!\^`W!\a!X(a
d_\aXc
\r[h b W@\#SRlSlU%\#]RUPhPWS b `i
WE\#^^W!hP\[$`
hPVWoi?X b `
hPVW=i?X b `h6c‚aSRUPlSz_[\#l b ]fxhPV
^_\W!\^`W!\a!SlUwXp b W!\[ b SRhPl
hPV
K
K
b `\ b
Xsa!`h}EXc
lx[hPl b W!\a bEb h9X\W]RSXWZ}+hW
a!SixS]H\WS b f5W@\lUSRlU9jKW!hPi
SRc
]RXaO}G`
afCl b \[ b S[xjKX\ b VWXa~hjG^_\#W@\^`
^_\W!\^`W!\a!X(aCSRl?\cc
b `\ b
b `XaXLW!V
b W@\l
W!XaXl b X(ce\9i?X b `h6cwjKhPW8[hPW^Va
\9[hPi?^_\W!\d]X4[(hPW!^V
b V\]<\l
c_\ b \
b h~jKV
^_\aa!SyX
i?SRaa9\]R]
b `SRa8[$`_\^ b XWC}EX^
l
b `X%VaXLhj
Xa
K
b `X8\[ b SyPX
b W@\la"jKhPW!ix\ b SRhPla1}+X
SRlUu]RhC[\]
]fw^`W!\a@\#]:]RX'p
b `_\ b
b `Xw^WhP^JX(W b SRXaBh#j
[\VaXa4\La!]h}{cX([W!X(ixX(l b
`SasSRasc
Sl
]RXLdOX`_\yCSRhW
hPVWDixX b `hCcr[\l~\[([VW!\ b X(]f
b `Xg[hPW^VaGSRaG\#a-]h}
S[\]O^_\W!\^`W!\a!X(aG\lc
W!XgcSRWX[ b SRhleh#jTWXa!X\W![$`SRaG\~ixX b `hCc
a"fCl b \[ b SR[G^_\W!\^`W!\a!X(a8jKWhPi
Xa!SW@\d
K
b `X?\]
\a=zyX
b SRi?Xa(n
K
]h6[\]J[(hPi?^JhPaS
jKhPWGXp b W!\[ b SRlUw[(hPi
\g^_\W!\]R]X]6hPWo[hPi?^_\W!\d]RX=[(hPW!^
Van
K
Z`W!\a@\#]
^_\W!\^`W!\a!X(a‚Xp b W!\[ b Xc|dNf
Nlh}G]RX(cUPXr\dJhV
b X(l[X(a-}G`
b ShPVaEUPh5\]OSRa
b hLVaX
b `
S b ar^
W!SRl
^Wh6cV
K
a![\]RX
Nlh}G]RX(cUPX9a!hPV
W@\aXaoXp b W!\[ b XcwjKW!hPi
b `X8lX'p b
hPVWZ[(hPW!^
as[]hPa!X(]f
d5f
hVW
^_\W!\^`W!\a!SlUwSRl
b h
[ b V
hj9a!V[$`{W!V]Xa
W@\]Da!SixS]H\WS b f?hj
hj
Nlh}G]XcUPX
\]UPhPWS b `
jKhW!ix\ b ShPl:n
iun
`SRa
W![X%hjo^_\W!\^`W!\a!X(an
culhl
jKhPW!i
b `Xr^_\W@\#^`W@\#a!SRl
X b
b `
b `Xm\V
K
aSRl[(X
K
b `Xga!X(l
X=cX(yX]Rh^ixX(l b
`
K
ixhPWXL\i%dS
^_\#W@\]]RX][hPW^JhPW!\
UmW!X(]H\ b SRhPln
jKW!hi
h b `X(W
MhW-X'p
n
hjJ\
hPWc
K
\i
X b
b
SRa4}EhPV]ctdOXlXz
\a-\?ahPVW[Xghj7^_\W@\#^`W@\#a!Xa(n
jKhPW!ix\ b SRhPlsjKVaSRhPl
Sl
jKhPW8^_\W!\^`W!\a!XsX'p b W@\#[ b ShPl
W![X(as\l
VaZ[\lwSl
hPWc
[$`_\^ b XW}EXE^WXaXl b
[SR^\]qa!hVW![(X
[Xc
b h?W!X(yX\]>a b W!V
Xs^_\W!\]R]X]M[hPW^Va=\#a=\%a!X(Xc
iLV] b S^]RX\^^]SR[\ b SRhla+}G`S[$`uWX]fmhPl
l
j\[(SR]S b \ b Xe]RX\#W!lSlU
[(hPV]Rc
b `hCcVaXag\m^\W@\]]RX(]1[hPW^VaB\as\ma!hPV
cSa b \#l[X9}G`SR[$`€[(hPW!WXa!^OhPlc
h6c
b `X(iun
W![X(aaV[$`€\a-]H\WUPX
^]XP^_\#W@\^`
i?X b `
^`W@\#a@\]>XvNVSy#\]RX(l[X9`X]^a
SR[$`e[hPl b \#SRl
sVWixX
W!X(a!hPV
b
hPVW
\lr\^^
b hPim\ b SR[\]R]fecXWSyPX(c
\#^^]RS[\ b SRhPl
cX(ixhPl
a b W!\ b X(a
]RSR[\ b ShPls}G`S[$`%VaXaq\#a
^_\W!\^`W!\a!SlU
b `
b `X(a@\VWVa
X€^W@\[ b S[\]Gy#\]RVXuhj
TSUPVW!X H
cX(lh b X
n
I
hPW^`h
K
! SR[X(a=cXl
Y
CfCl b \[ b SR[x^_\ bb XWla9Xp b W!\[ b Xc
b h X(lXvNVSy#\]RX(l[X_V^^OXWGSRlc
h b X9W!hCh b
d5f
X(vCV
b `Xx\]RUhPW!S b `ien
Sy#\]RX(l[X#n
Y
h}EXWrSRlcS[X(a
!" # $ # # %&'(
b X(W%jKh6[(Va!X(a%hPl
`Sar[$`_\#^
K
iLV] b S
+
chC[Vi?Xl b
Z]R`_\#c_\c\lc
*)
a!Vi?im\#W!S
,+
[ gX(h}Gl\#lc
\ui?X b `h6c
Z]R`\c_\c
[ BX(h}Gl
V] b S gX(l1a!Sl[X?S b
jKhPW9a!X(l b Xl[(X
\ b ShPlta"f6a b X(i
.-
A
\ b
*)
X€a b \#W b
^Why6ScXa9[hl b Xp b
jKhPW
V] b S gX(l
Sy#\a!aSR]hPUP]RhV
n
hPVW
6X(l b Xl
jKVa!ShPl:n
[ BX(h}Gl
B]R\y#\l
^WXaXl b \ b SRhPl
\lc
h#jG\
\]n
A \W
S]H\f
Za N
SRl
A \W
S]H\f
X b
/+
aO\lc
b `X?cXyPX]hP^i?Xl b
SRa9^_\W b
[XmjKVaSRhPl
}GS b `
\
c
Xa![(W!S^
b Xa b SlUuh#j+Sl
b ShPl
hj
jKhPW!ix\ b SRhPl
jKVaSRhPl:n
0 2 1
3 5 4 76
slX?hj
b `Xxix\l5f
b `\ b
\W!X=V
8hPW
98
X}
dOXlXz
b arhj
b `X?}EXd
^Jc_\ b Xc~}G`X(lX(yXWE\BlX(}
SixX(a#\lcLix\l5fgh b `
lX}Ga!^_\^OXWaB\a
b `X(SRW-im\#SRl‚a!hPV
SRa
b `_\ b
S b
^W!hyCSRcX(arix\l5f
a b hWfLSao\y\#SR]H\#d]RX#n
XW!a(n
_hPW>a!hPi?X8^JX(hP^]RX
CV[$`xaS b XaZSRl
hPl
[]RV
K
]RSlXLlX}Ga%a!hVW![(Xa
cX
b `XaX<a!S b Xa7`_\yPXEW!X^
W![XrhjZlX}Ga\lcujKhW-h b `X(W!a
-X(V b X(W!a
]H\[(XcL^WSRl b X(c
b `Xfe^W!hyCSRcXr\l\ccS b SRhl_\]
a!hVW![(Xshj1lX}Gan
c_\f
b `_\ b
S b
_VW
a"fCl b `XaS
ixix\W!SXa
b `\ b
}G`S[$`uS b
4l
dSR\
b V
W!l
WX\c
SRl b X(UPW@\ b Xc
dOX
Sl
b Xp b n
[SRaX
b `
X
+h]RViLd
SyPX(W!aS b f
4\ b `X(W
b h
b h
`X]^
Va!X(W!amzlc
\lc
b W!\yPXWa!SlULix\l5fwcSJXWXl b
b `\l
X(}Gad]H\a b X(W}G`S[$`‚\UPUP]hPixX(W@\ b XaESRl
b `X}EXd4\lc
X}Ga!d]R\a b XW~VaXa
b fC^JXrhjqc
b `
a
W!hyCSRcX(a
6[$`
Va!X(W!a
aX^_\#W@\ b X
b `X
\
a!Vi?im\#W!S
b `_\ b
c
b `_\ b
hy#\ \l
Xl
c
XWarjKhPWLc
a!V
l
b `Saoa![X(l_\WSRh
ixix\W!S
\UPWXXehPl
b `X
\ b SRhPl
X(f
5jKVaSRhPl?hj:[(hPi?ixhPlwSl
a b W@\ b XUfn
\a^JX([ b amhj
V
SJXW!X(l b
a![\]RX?afCa b Xi
\]n
X(a4l
*)
NSa8V
+hP]RV
K
i
\rVaXW<[\l
`XBa"f6a b X(i
XW!X(a!V] b a(n
b `
X^OXlcSlU€hPl
V] b S gX(luSa4VaXc}G`
\W b SR[(]RX(aBSRl
n
SRl b X(W!X(a bmb h
b `
dWh}Ga!X
a!X(yXW!\]qa!S b X(a
X(}GajKWhPi
b h
Sl
\ b
Xi?hPa b
[]Va b XW!a~c
\e[(]RVa b X(Wn
Xl
`Xxh b `X(W
a!XcxjKhPWoa!X b a+hj:\W b SR[(]RXa
jKhPW!ix\ b SRhPl~\#[W!ha!a8W!X]R\ b X(cm\#W b S[]XaZSRa8\By#\]RV
b?b `
X(f
y#\Wf
X
h6[(VixX(l b an
] b S^]RXxlX(}Ga?\W b S[]RX(aL\dOhPV
b `XeX(yXl b G
dV
K
X(}Ga<hj:SRl b X(W!Xa b
l
Sl b XW"j\[X
[ gX(h}Gl
K
aSRU
W!hCcV[Xa!V[$`
jKhPWim\ b SRhlwjKWhPiky\#W!SRhVa<a!S b X(an
jKWSRX(lc]f
b `
SRa?hj
b hrz_lc
XUPWXX?hj<aSRi?SR]H\#W!S b f‚dOX b }EXX(l
SJim\l
]H\WUPX
[ BXh}GltX b
b `X%[(]RVa b X(W\a-cX b XWixSlXcud5f\?W!hPV b XW(n
UP`
b hL^
Xc
`_\a8dJX(XlxcX(yX]Rh^JX(c
X(a\lctaVixix\WS
}GS b `
Xl[(XPaVixix\WSRXa
jKhW!ix\ b ShPlm\#[W!ha!a=iLV] b S^]RX
^WSRix\Wf
X}Ga!d]R\a b XW
aS b X(a
b `Xma!\i?X
Sar\‚a b \lc_\#]RhPlXw[(hPix^OhPlX(l b
\W!Xgi?hPW!XB]h6ha!X]fmWX]R\ b X(c_\lcu\]a!h~jKhPW=dShPUPW@\#^`SR[\]c
\d]X
^
b }Eh
XlhPV
+
afCa b Xi
S b
h6[(VixX(l b aSl
XW!X?SRag\‚`SUP`
b `\ b
V] b S BXl
dW!h}Ga!XlX(}Ga
\V b hPix\ b S[\]]fx[hP]]RX[ b a[]Va b XWa[\ b X(UPhPWS
hPl
SH\
)
y#\W!ShPVa~\#^^]RS[\ b SRhPl
hP^OXW!\ b X(aGSRa
X(yXW"f
h6[(VixX(l b a-SRlehPlX%a`hPW b4b Xp b
V] b S gX(lx}+\a=cXaSRUPl
`SR]X
-
X(}GaZ\UXl[(SRXa(n
*)
b SRi?X4jKhPWE^JX(hP^]Xn
SRlU
X(}Gad]H\a b X(W+SRa8\g^Vd]SR[(]f~\#[[X(a!aSRd]X4a"f6a b X(i
l
b `XaXmaS b X(a%cX(a![(W!SRdOX
b hw\V b hPix\ b S[\]]f~UXlX(W@\ b Xg\%jKVa!ShPl‚hjDa!SRi?SR]R\WoSRl
[VWW!Xl b ]f
Xien
h}Gl
b `Xm\W b SR[]XaghPl
hj
jKhPWim\ b SRhl‚\[WhPa!a-W!X(]H\ b Xcc
chC[Vi?Xl b a9SRl b hu\e[hPl
[hV]Rc
b `
I
c
ahLix\l5f?\W b SR[]Xa8^Jha b X(c
\]R]n
X(}GaTXyPX(l b ao\W!X8[hyXW!X(c~d5fri?hPa b
XL[hPi?i?hPl‚SRl
lSz_[\l b ]f?[V b
W!X(]H\ b Xc
b `Xi
b `X(W!i?hPW!Xq\e]H\WUPXx^OhPW b SRhl
a!V
b hwW!X\c
Sa=SRi?^Jha!a!Sd]RX
X(yXl b a5a!Sl[XEim\ hWDl
b `\ b
lX}Ga<a!S b Xa+\lc
`X(W!XB\WX4ahLix\l5fxaV[$`
Sl
b%b `X
^OXWSR^`
a!\ixXmX(yPX(l b
XW@\#]-c
X b \#SR]Ra(n
K
VaV_\]]f
`NVa
W!X(^JX\ b X(c
jKhPWim\ b SRhl
SRl
dOXsVa!X(c
jKhPW<a!V
[XaZdOX b }EXX(l
b \#l bGb h
b `Xien
<bgb
[V
&jqV
`X
] b `hPVUP`
X]R^~V
b hscX b X(W!i?SRlX+}G`
a!XWa
V] b S BXlt}+\aBcXyPX]hP^OXc>i?hPa b
ixX(l b
BV^
ix\f
dOX‚\cX(vCV\ b X
X'p6^]RS[S b
SRX[
aVi?im\WS
jKhPWLaSRlU]RX
] b S^]RX%ch6[(Vi?Xl b
ixX(l b
chC[V
a!Vi?im\#W!S
[hPi?^_\WSRahPlar}GS b `
\ b ShPl:n
]h6X(chPW!l
I
W!X(^JX b S b SyXBW!X\cSRl
8
E\l
\] b X(W!SRl
\lc
hj
b h
V
*)
] b S gX(l
SRcX(l b Sj f
U
^`W!\a!X(a9jKWhPi
SRaEVlSvCV
i?X\aVW!X(an
<\WdJhPl
X]R]
b `
b
Sl^V
X\WX\
+`_\^
Ba!`
b XW
b `
h}Ga
b `SRa7}+hPV
V
)
n
dOX
ixX(l b
K
Xj
<\] K
\#lS+\#lc
U b `5f~\#lc
b `X-a!Vi?im\#Wf~d5f?W!X(Va!SlU
b Xp b n
afCiLdOhP]RS[
}GS b `
XLa!Vi?ix\Wfn
SRl
K
chCXaglh b
Xp b W!\[ b Xc
`XwcX(a!SUPl
b X([$`lSvCV
Xa
aXl b X(l[X(aB\#lc
l€hyPX(W@\]]Ta"f6a b X(i
gX(lL^OXWjKhW!i?aT}+X(]R]_\#[[hW!c lU
] b
Xn/Un
}+hPW
}GSR]]+lh b
]Rc~ix\ X<jKhPWT]RXl
c
K
\ b ShPlujKh
`SR]X9aXl b X(l[X~X'p
ixhPWXL[h`XaSyPX
b `
[X-Xp b W!\[ b SRhPl
[\l
SRlX4]RX\#W!lSlUL\l
hj
K
b `XghPWSRUPSl_\]
\W!XxXp b W!\[ b Xc
hjgaSRi?SR]R\W~^`W!\a!X(a
X%}+hW!cSlU
b h
aVi?im\WS
SyCSRcV\]TchC[V
*)
\#W b S[]Xa[W!X\ b SlUe\
b hmW!X(jKhW!iLV]R\ b X
W!XaXl b X(cxSl
SRlc
jKhPWim\ b SRhl
S b a+Sl b XUW@\ b SRhPlxhjDim\[$`
XBSRl
Ca
\ b ShPlTS b
] b S gX(lxUXlX(W@\ b Xa
V
a!SixS]H\W~aXl b X(l[X(asSl b XWa!X([ b ShPl
]H\#lUPV_\UX%UPX(lXW!\ b ShPl
X(y#\]V_\ b SRhPlL^
Un
-l]RS X-^W!XyCSRhPVao}EhPW wSRl
\]]Eh b `X(W~ch6[(Vi?Xl b aL}G`S[$`
ZSRX(W![XC\lc
U
l5f
\W[V
aVi?im\WS
b X(W!l_\ b SyX]fqSj=\]]8aXl b X(l[X(aw[hPl b \#SRlSlUaSRi?SR]H\#WBSRl
b h
\#^^W!hP\[$`Xa
+`X(l
SlcSR[\ b X
b h?\wUPSyXl‚a b hPWfn
\ b ShPl%\#lc~}+X(W!X=d_\aXc?hPl~a!X(l b Xl
DXcX(W!aXl1\#lc
h~lh b
[\l
SR[$`wa b hPW!SXaZ\WX<SRi?^OhPW
X}Ga!d]R\a b XW-^W!hyCSRcX(aG]RSRl
)
b `XtXyPXl b B
\lc
b h
b `XBUPX(lXW!\ b X(c‚a!Vi?im\#W!SRX(aEc
a!XWa-}+\l b-b hw]RX\W!l‚i?hPW!X
b SixX
jKX[ b SyPX]ftjKhPWBiLV
[hl b \SRl
SR[\ b hPW?hj9S b amSRi?^OhPW b \l[X
SRlc
b `X(f‚[\l‚z_lcu\]R]Ja!hPVW[Xr\W b SR[(]RXa+^JX(W b \#SRlSlU
b W!\[ b SRhPl
UPhChCc
\W b S[]RX(a b `XfL[\#l?`
a!Xc?hPl~aSRlUP]X+chC[V
7\SR[(X
\
ixix\Wf?UPX(lXW!\ b ShPl:n
cS X(W!Xl
\W b SR[(]RX(aah
Sa
b hsy#\W
hPVa
Analysis Component
Clustering
Filtering
Lexical Chains
All
Themes
Feature Extraction
Information Fusion
Filtered
Themes
Ranking
Ordering
Sentence Fusion
.....
Article1
Articlen
UPV
Summary
W!X
n
I
)
gX(l
V] b
W![$`
b
X([ b VW!X
) !#" " $&%')( *' + %+,( - - ./ % 0 0 (1&- 2 '3/4#"5 K
(luj
}
l
}
-3- &6 (78 2 *4 4 -79*% - : &+ ; ./ : &-<&-9+= - ?>%+* @
9A' 4#*- - B+4C ; *% ED ! - F-9 (*-'*/4#" 7 *GB 4 ; &% H2 4C % '&'3%+/ ED - % . &%9 3+IF6 (J+ %+'3J9K' 4#*- 0 L-'* . % "MF6$ 4 ; &%B"&% . %&"7(M&%
97*- N *
9 (1 2 *4 *' M > &6 (7 . %+ "7 M> -' ; 939 - (B 4#48F% 2
93"53-9 - . /- (7$93 %+*9O'*&4C"%* &- *- .& (P0 (Q+ *' *9 . %+ "G&%+"F++39 (7
. 3-*%+ /-R'3/4#"5/-7*- S ( ')(T6 % (*% 93- N *$&-9U')(7K/* -76&%+4C /- O>5#%+E6/% K
4 39O&V'*/(7*%+3- ED 0 SWS $97*+'3% >5XF')('3/4C"/-3- -Y4C/%9 ; 0
?z
HZ
[H\ ^] `_
aL
Pbdce_gfQLh
*i, (7B&- 2 '3/4C"/-3- &6 (1 2 34 i 4 N -79*% i 93- N 31jklEm8l)n i,. %+ "&6
+3- *-7'**Q6%+/4o9 p 3%+*- 9A' 4#*- ( '3/- -J%+3"5* 39 -76/%+4C /-P0 +[&')( (7*4#
'*&%+%+3+"/-9 G/-+3- *-'3 - (7 7 " K 4C4C&% 2/iq. *-3% *9$> 2 V6 /-Q'*/4#"5&-*- 0
r -stD7&4C" 8F6G (34C $+( S - - ;./ % 70vuK0 (*%M48 2 >5848&- 2w (7*4#*x6/%x
%+
0 K" &3 S /48F-M9 9C- '*/- N %+4 ( i > 7 9 (? 3 - F- N %+*9I&
&- &- 84 L #> 7; 97*3%*0
uK0V( ' &+(x*% " 39 S (*-? 3 - F-x4 ; &- N %+39148&')( - H./ -7 &-9 &- F- B4 + 3` x> 7; 97*3% ( `S & > ; 9 - . &-I34 >&- A4#*- - (L&%X > + *%"% 3' H+%+& 6/%+'3*30
0 V(O&%4 2 tDK"%+3++3
9 % . % 1 (7 /+1F6 --A'**- B : 3w> 7 J+3- &%
'*&4C4C&-93%B 9 %K&"C(&9 +(7 - 6 9363-+ F6 3%C> - .RN %+*9 CS ( ; - . > 9 **% #> 9Y1- S *4 >F- @4C3- F- &%4 2 >&+ - (Q&%+*70
!" $# < * - &- N %+*9&-&- F- C4 1> 7; 97
*3%*0
;./ %+ 0 u #&%(')'+*",.-0/213-545)6-78-7+1:9<;=>=1?/2*@;A'.B.)'.CEDF,./21?BG/21?'H-21?'.9<1I
+ F6&% ' 3*0J? 93- 6 2R (34C3 i 4 N -93%#>7%+X A (7 &% ' - w+3- *-'3*86&%
'*&4C"F% /- i &-9 (3-'3/4#" 7 3Od &6 - ./ ' &-79"/ /- 6X + %+3 i!S ( ')(
+3% : L& -" 7 - (G 4 &% H2 . /% (4O0V(*6* %* -' ; 97G"7% 4 : `6X + %+3
')(I& S &%+9 i *4 &-79 R/%+@9 K : 3% &" i & S ; &['*&4C"/ 6* %* iAS ( ')(8 4 'XF" % 4C ')(3</- (a 2 - &' ' : i ')(B&< > *' L : *%>8F-9 : 3%+> /> 3' % &-*0
4 N -79*%='3/- % ' : 3' &%[6&%=X&')(#" % &65+*- *-'3* i %+3"%+3+*- - . 48 ')(3&-#*&')(
&6 (9 p 3%+*- 6X %**0 r H. H -*&%<% . %* &-C4#K97 +*9 '*/- : *% a (G : 9*-'3
6%+&4 ( : F% 6X + %+3 - ./ B 4 ; &% H2: &M
0 V(784#K9 =S & %+ -39U/-U
F% . + F6 +3- *-7'** S ( ')( S *%x4C&- ;2 4C&% F*9O6/% 4 ; &% H2 &0 V($ 7 " 7 &6 (7
4#K9 - . &6<%+* : ; 39 4 ; F% H2B: *G/- *- 3-'*1" %*N0 V(3+x 4 ; &% H2
: ; *[&%`6*9 - L' ; 3% - . ;. /% (4 ( "&% &- ( tD - - ' ; *%=&6
' /+ 2 %+ *9 &-*3O
0 V(7 ' *% - . !"*%6&%+4#*9 - . C-/- ( 3%&%')( '* ' ; 3% - .
3')(- QPA i (ILl RS)Uk TV"WAlm8lEj Yk X[Z K"\ ( i ]^ 0
KG ( ? ;2 (34Ca+*- *-'3*[9!-7 '3/- : 2 ED7&' 2Q (7`F4C -76/%48 &-P0
r - (!'*&+&6 ( (*4#L( S - - ./ % 0 u i +*- *-'3* ;2 -' 9*4 >*997*9
"(%+&+ '3/- - - . -K6/%+4C /- ( _
V`Xqj'*/4#4C&- Y *- 3-'*3 - ( (*4#&0
/%* : 3% i 7 /48 '* ;2 '3/4#" 7 39 (7*4#*86% P@ *- +2 '*/- - -%+ *9 *- 3-'*3*0
H-J6 &' *i, (71 : ; /- &6 4 N -9*%!/- ( & &6'*/4#" 7 - . 4 ; &%+*- *-'3C" %+
%+ : * ( C ( 2 34 %X&')(3 ] 0 "%+3' &- &uK0 ] %*'* ; - : &+ ; ./ Pi
: &- i &-9 += - i ]]] 0 S ; 9 +' + 3% ( S (*V6 &' /%+ - 3-'*V*- 3-'*
6 /-P0 7
e
2 " 'X ;2&i 4 N -9*%?"%+A9 '3*[ < *& u (34C3 . : *-BF-1 : *%+ . KG S +> & *%=' ; 3%
&6<&% ' *30&? . 3-*%+ $1 4#4C&% 2 &6<"7%+*97 3%+4 -39 *- .F ( i7S -9 '*Q1%&- - . / (7 (*4#*3G
0 V( %+&- - . >&+39R&- (*4#1 * i 4 ; F% H2 '*/% i &-9w . - N 'X&-7'*&0
V( N %+ $HS JF6 (3+I'*/%*1F%+8"7%+A9 '*39s> 2 4 N -93% i F-9 (78 . - N 'X&-7'*8'*/%
. Ll R ST S)kUT V7n &%L ; 2 F-9 + (&9&9 i ]] Ei & (7
&6 (7 (34C L'*&4C" K *9 - 4oF6 tD 'X ')( - '*/%*LF6 (34CQ+3- *-7'**'3/4C" 7 396%+&4 ( ED S ( ')( (7
+3- *-7'*G/% . - ;2 > /- . 30 ED 'X ')( - P@ 3-'*3`&6+348F- '* ;2 % 39 S /%9
&% . ( 2 '3/--3' 39 ( ED '* '3/(* : # % ' + %+B&6 (7 ED &-79T( : B>53*+(7 S - L>5 +E6 6/%?9 *%4 - - .GS ( ')(1*- 3-'*3&%+ 4C"/% &- 6/%< - .& `97K' 4C3- 4C4C&% X /-,0 - 3%+ i (34C ( (F 48F- 2 *- 3-'*3 ( ( : I>*3- %F-&39s> 2
tD 'X ')( - > 4C"/% &- 6/%$ - ./ #9A' 4#*- 4#48F% 2/i i - %- i . : 3-s
( . (*%V ;. - N '*&-'*'*/%Q6&% (4 9A' 4#*- 4#48F% 2 0
_ a `
; 2/i )*- . *-3% *# tD 6%/4 (M'3/4C" 7 39 &6 (*4#*30 % - . ( "%K'3*+ i ( (34C31&%+ N %+ /%9*%*9 - J'3/(3%+*- 1 ED 0 V(7I/%+97*% - . ;. /% (4
97*+'3% >539 !
- `(F" 3% . %+ "7 . (7*% '3/(* : 2 %+ *9 (*4#* &-9 (7*- -79 '*3
-
')(%/- . '* /%9*%$&4#/- .M (7*4O0 KtD Xi? (#+*- *-'386 /-T'*/4#"5&-*- $. *-3% *$
+3- *-7'*x'3/- : 2 - .C ( -76&%+4C /-8'3/4C4#/-Y&4#/- .1 (*4#+3- *-'3*30
H- (#-tD +3' /- i S 893+'3% > (#+3- *-7'*86 /- & 0 H- *' /-70 i S "% : 9&- : *% : S F67% *9 S /% 00H- 3' /-0 i (=6 /-Q . /% (4 - %+A9 '3*9P0
V(Q : /-I&6? %G . /% (74 V"%+3+3- *9 -Y+*' /-70 K0
0 ) : 3-s . %+ "U&6 4 &%L"&% . %&"(7 ^
(34C (8"%/> *4 '3%+* MO'*/-7' &-9 3- 6 /-8&6 -76/%48 &- S ( ( (*4# i %+ *' - . 6 &' '*/4#4C&- 1 ; "&% . %+&"(30 r -RED7&4#" B&6 Y6 *9 *- 3-'* +( S - - ;./ %0vuA0 r % . ( 6/% S &%9
4# (7K9Y6/%6 /- S 9 > 8" ' YC%*"%*+3- : x+*- *-'3 ( 4#* G+/4#$'3% % F0 . 0 i (%*+(7 9T- 4 >*%&6a'*/4#4#/-J'*/- *- $S /%9 0 H-T"%+&' '* i ( S : 3% i F- 2
%+3"%+3+3- : *- 3-'* S ;P 2 -' 9*4 >*979*9J"(7%& '3/- - - . -K6/%+4C /- ( V`Xqj'*&4C4#/- ; +3- *-7'** - ( (*4#&M
0 V(7*+8"(%F+*x48 2 - >
3- *- . (Y6/%1 4#48F% 2/i /% 4C 2 > & ( 4C4C&% 2C S &%+9G1"&% ' &%`9 0
/%ED7&4#" i " ' - . F- 2 /-#+*- *-'3C6%+&4 (#' *% - ./ %
0vuM%+3 - (7
-7' ; &-1&6P/4C --*'3*&% 2 9 3
0 V(3%+E6/%+ iA x&')( : % . S -*39 9*- 6 2 "(%+&+3 '*&4C4#/- 4#/ Q (*4#8*- 3-'*3 i &-9 (3- '*&4 > -7 (*4 - O- S
+3- *-7'*&0
> : 2&i +3- *-'3 - 3%++3' /- -wI+ > (*/% ' S 2 "%+A9 '3*"K&%!%+3 30
/%ED7&4#" iA ( - *%+*' /-I&6 ( N %+ aHS 1*- 3-'*3 6%+/4 ( (*4#!( S - - ;H. % 0 u 3j k"l !$#l ZMTVj &%Hj TV(' T&jajk[l 0 * 9*>5 - .B - . %&4#4C 'X i 4#"5/ > -79*% F-9 S ( : 3- ( - 3%+*' /-O93+'*% >*30 V( -&9 PA &' 2 &6 (7 e> . &6
S /%+9LO&""% &')( (x6 /- &O4# : * ( +1&6aI4#/%+$ &>5&% x%+3"%+3+3- &-#6/% -7" 7 *- 3-'*3*0 G&9 : F-9 ' 3 S - i ]]^ 97*4#/- % *9 ( ( &
[6XF > S (*-YQ9 ; *98*4C&- '!%+3"%+3+3- /-I&6 ( -" 7 +3- *-7'** . : 3-P0&H (7 %6%&4# S /% i +*- *-'3*&%+a'*/4#"&%*9 &- ( : &6 (7 %?+348&- '`%*"%**- /- i
&-9B 3' *9#+*4C&- 'V'*/-7'**" a&%+ %&- *9 - &- +[- ./ +(1+3- *-7'* - . '*/-'3*" >
tD . *-3% /-O4C (A930 V(Q 2 *4o9 : &"539 > 2 G&9 : F-9 ' * S - i ]]^ /"*%+ 3 -C 4 39 9/4C - *%%+/% : 3- ti7S (3%+ -76/%48 &- ED %+&' /-# 2 *4#
'XF-U> +*9 - 3%+"% (#+ %+'3 tD 0 - S : *% i ( FJ&6a48F"" - . -" 7 ED - CB+348F- '%+3"%+3+3- /- -O#9&48 - -93"53-9*- + - . ED *-9 S ; > 2 /-9
(7&> ; H2 &6' %+%+3- &- 2 4# (A9*&0 V(3+Q'*/-7 97*% &- 7./. * ( `S -3*9O
- S 4# (K9 6&% (1*- 3-'*B6 /- & _
0 H97X 2/i ')(RI4# (7K9 S 9J- %+ P@ %
6 +348&- 'V%+3"%+3+3- /-P0 G (7*% i =S 9B%+ 2 &- -" 7= ED a&-9 @- S 39 . ( 'XF->Q 7 &48 '* ;2 9*% : 39O6%/4 B'*&%+" . *-3% x 6 /-Y+3- *-7'*&0
%F""%+/&')(T&- 2 3* (*4#1+3- *-'3*$&-9w%+ . *-7*% *QM- S *- 3-'*#'*/- - - . Q ( -76/%48 &-T'3/4#4C/- 4C& +*- *-'3* -R (7*4#&0 /"*%+ 3 (7%+*"(&* # "&%+ - .Q (+*- *-'3* -#X&')(M' ; 3% S (I&-8ED - . 'X "&%+*% i
;. - - .! (%* - . 9*"*-79*-' 2C %+3* ; S - . 6/%["F%&"(7%&* ti F-9 N - ;2/i . 3-*% - . I- S +3- *-7'*16%+/4 4C ')(7*9J *4#*- 3
0 G . *-7*% &- !&')( : 39T> 2 + *' - .
Y+*- *-'386%+/4 (B' *%$&xYF &- i &-79U4#K9 6 2 - . -' 9B/- 2 "(%+&+3
4C ')(39 &'3%+/ (7 *- %+ (34C S ( ; "7%+**% : - .U ( . %+&4#48 '* `: 9 H2 &6 (7
+3- *-7'*&0 V( !F""%+/&')( . 3-*%+ 3L16 /-O+*- *-'3 > 2 % - . &-9 *% - . "(%+&+3
6%+&4 (7 -" 7 F% ' * i "53%6/%4 - . tD > ED . *-7*% &-P0
0
4 ED L ED 1. *-3% /- 1&- 34C3% . - . &%X &6:K ?0 G- & %&9 /- '3/-'3*" >
tD L. 3-*%+ /- F""%+/&')(* i5 ED L
ED . *-7*% &- 4# (7K9 & ED & -" 7*i F-9
%+&-e6/%+4 - J- S ED + 6 2 - . +&4CC'*/- %+ - &0 . 0 *- .& ( 0 H-dF99 / -76/%48 &- 6 /- i '*&4C"%* &- ;. /% (4#B&%+ &- (*%CED7&4#" O&6 ')( 4C ( A9 - ;. ( &-9 &%+' Pi u - . F-9 ' * S - i u 0
`&4C"%* &-14C (A9 S *%V9 : &"539B6&%< - ./ 97K' 4C3- 4C4C&% X &- i F-9
(7 2 4 %+39 '*L+3- *-7'*!> 2 4 - - . '*/-7 3- S ( ')(C&%V- '3% ' 6&% -97*%+ &-79 - . 00 V(3+&""7%+ &')(7*=&%a>&+391/- (`/>7+*% : /- ( < (G
4#"5/% &-7'*[
&67V+*- *-'3a'3/- + *- 'X&-&6 *-Q>5=97 3%+4 -39>&+39$&-Q( S 6X + %+3 i ')($& 2 - F' '!% G&-9 ( S /%+9 '*&- -7*0 /%[ED7&4#" i -#48F- 2 '*&+3 Q%+ : ' ( "53% "7(*%+ / ('*3- % " - &6 (9K' 4#*- '*&-x>%+*4# : 39x6%+/4 G*- 3-'*
S ( 7 . - N 'X&- 2 9 /% - . `4#X&- - . 00 ? 97 3%+4 - S ( ')(M'3/- + *- V'*&-M>
%+39 '3*9 i7 (*L&"7"%+ F')(* H2 " 'X 21 +&-8 . -39C'3/%+" `'*&- - - . " %+&6 /% ;. - +3- *-7'**L&-9Y+3- *-'3* S ( ')( S 3%+Q48&- ;2 '3/4C"7%+*+39P0
- ;. ( F-9 &%+' Pi u 4CA9 %*9 ' /- &B %+&- /-U"7%+A'** - .
- +2 ')(&-- 4CA9 %+ S -Y 0 i ]] 0 H- ( `4#A9 i x(/% '3/4C"7%+*+39 % - .
%X *9d&x %+'3M&-9 &99 &- ( Q % - . &%+C'*/-7 97*%+39 >8-7 &0 V(
. '3/4C" 7 39 > 2Y (Q'*/4x> - &-OF6[C &-9&%+9"%+/> "%/>&> H2 &6[#+ %+'*$ % - &> ' '*&- ED L 6%+3 . %+&4#48&%'*/% iS ( ')( 9*% : *9R6%/4 ( . %&4#48F%% * ( 2 939 %+3 /i &-9T S &%+9 > ;. %+&4o+'*&%+ i '3/4#" 7 39w : *% ( * : *&6 (7 %+3&0 V(
K')(& ' ')(F-- 4CA9 '3%+X *L &% . %+3
V6%+&4 C+4C ; *% %* > 2 ')(7K/ - . &ED *- /- *4#" 6/%aX&')(M-7K9>&*9Y/- ( F>5 &6 (!-K97&-9 a')( ; 9%+3-P&0 H (7L9*'3K9 - . . i7 (7L 2 *4 X&%')(*V6/% (L(/% % - . ( 4CqD 4 3* Ei
^
S ( )' ( 6/% N DK*9 V P@ : *- B48 D 4 - . 0
( ; ( &"7"%+ F')(MEDK" a/- 2 2 - &' '&-79 tD 'X -K6/%+4C /- i - . F-9
' 3 S - i u +O%+ 2 /-U'*/(3 /- -76/%+4C /- i 97*% : 39U6%+/4 S /%9 9 % > 7 / ED # "7(%&* ( &% -&39 A'X '3/- ED F%+ &*" Xi S ( O"(%F+* ( ( : -Q ')( - @&%9%/""*9P0 r - (*%9 p 3%+*-7'*G>5 HS 3*- (7*+ HS $4C (A9 (7
ED *- : +L&6P9/4C - -97*"*-93- @- S 39 . L %'** - ( + *%*0 &%atDF4C" i
tD '*&- *9 93- 6 21S ( ')(I'*&4C"/-3- &6 (!*- 3-'*Q&%&> . &% 2 &3*" . %+&4C4C 'X ;2 '*&%+%+3' &0 V(L'*&%+" - ( `&""% &')( +39 3 4C (!9 . %* S ( ')( (Q6% . 4#*- ED %+&-* &-9J'*&- >x/4 396%+&4 8 4#4C&% 2 0 r "7(%& %+34C : *9O/- 2 6 V- . %&4#4C 'X 2 /> ;. /% 2/i - - F*9 # A'X '3/- ED *i F-9
(&$Y%+XF+/-F> #"%+&>&> H2 &6`>5 - . %+34C : 39 > 2 ( 48F-*0 H-U&99 /- O%+*9 ' - .
(7 /% . - +3- *-'3* i - . F-9 ' 3 S - i u +L- 4x>53% &6 4C&- ;2 '*/4#" *9
% 7 * 1 .&. %+ . %+39 '*39Y+*- *-'3* . (3% A6/%`tDF4C" i %+*9 '*39O' +*V4 ;. ( >
'*&- -7*9 S ( [TV!ZU0
V(7*+ HS 8&""% &')(3 S *%+$ : 39 - . 9 p 3%+*- 4C (A9&-9 S 3%+$- : *%
'*&4C"F%+*9 . - XF')(J (3% i > 7 6&%> ( &6 (7*4 . KA9O"53%6/%48&-7'* S &L%*"/% *9P0
- . &-79 ' * S - i u 9 %*' +2 '*&4C"F%+*9M%*9 ' /-M93' /-7`4C&9L> 28 ( %` 2 34 (&+#&6 ( 4C&- i &-79T6 -9 ( - ^ 0 &6 (7C'*&+3 (7C%*9 ' /- S &$
'*&%+%+3' /-F0 - . ( &-9 &%' Pi u & &*9C( 48F- 9 . * : ; ( P@ H2 &6
"%K9 '**9Y*- 3-'*3 - *%4C`&6 . %&4#4C 'X H2 F-9 ( % 4#X&- - . 0 V( %V 2 *4 ;H. - N 'X&- +2 7 "53%6/%4C391!>& -` ;. &% (4 ( "7%+A9 '*3='*/4#"%*+ /-7 S ( ( ;. (* S /%+9 > ;. %&4 +'*&%+*30
. /% (4# - (7
H-K6/%+4C /- 6 /-WtDK( > O 4 &% * S (W'*&4C"%* &S 2 '*/"* S ( ( &' T&6G+348F- 'I9 - ( . *-3% /- "7%+A'** i %+ 2 - . /-
]
+( ; S &- 2 a&6 ( -" K &-98 '*`97*% : 39I6%+/4 x'*&%+" 30 *&% 2/i@ (L9 p *% *-7'* - (!- %&6P>5 ( &@V&-79 - ( H2 "5!&6 -7" 7[ ( 2 tDK"53' - ./ *- 3-'*
: 3%+ `4 7 " a+3- *-'3* 9 ' * ( +&6,9 p *%*- 4C (A930 - : - . 4 7 " a+3- 3-'*3 - ( -7" 7 "/+3- S ')( 3- . * ')(T&LI-*39w6&%L+3- *-'3B'*/4#"&% +& > 7 (!&4# 4C /"53- "Y- S "/ > ; *=6/% . *-3% /-P0 ( ; (7 7L
" 7 F6?tD - . '3/4#"%+3+ /-Y . /% (4# S 2 >7 % - . &6 (/% . - +*- *-'3 i
-K6/%+4C /-$6 &-148 2 . *-3% - S *- 3-'* S ( ')( =-7 >7 % - . &65&- 2 &6 (7
-7" 7 *- 3-'*3*G
0 V( &')( : *9T> 2 &%%&- . - . 6%+ . 4#*- F6a : *% -" K +3- *-'3*
- #&-+*- *-'3&0
V(7/- 2 (3% tD > ED . 3-*%+ /-M&"7"%+ F')( S (I ')(Ox'*&"&> ; H2 ( &56 ?&- .i - . ( &-79 &%+' 0 V( %L4C (A9 /"*%+ 3L : 3%4 " +[- ./ +( %&- /- &6 ([+&4C=6/% . -+*- *-'3 i &-9 - *-79*9 . *-3% [- : "&%+&"(%+&+3?F6 (7
-7" 7 +*- *-'3**0 F -76/%+4C /- 6 /- iA ( %4# (A9I ;. -="&%+ %*3`&6 ( -" K
+3- *-7'**F-9 (*- +3L &- .& . 4#K97 P -X&% 3 (Q93% : *9 + '3&50 V(x4C 9 p 3%+*-7'*#>5 HS 3*- (7 HS 4# (7K9 - ( H2 "8&6 (8 . -4#*- # %x ;. /% (4
"*%6&%+4# K'* . -4#*- Xi S ( (7I . /% (4 &6 <&- .7i - ;. ( *i &-79 &%' Pi u "*%6&%+4# ./ /> ;. -4#*- &0 V(9 p *%*-'3* -O . -4#*- &%Q'* *9 > 2 9 p 3%+3-'*3 -7" 7 # ?&- .i - . ( Xi &-9 &%+' Pi u EDK"53' *4C&- '* ;2 P@ : *- *- 3-'*3 i
S ( V % . /% (74 &"53% * : *%+3- *-'3* S ( ')(#( : G/- 2 "&% 4C*&- - . : *% &"P0
0 0
4 $
3- *-'36 /-s6 S ( H 2 " 'X V . *-3% /-d" "5 - # '3/- 3- + 3' /- S ( # 2 &-79 %e6 &'* %+X * /- ( S R 2 0 H- %F9 /- V. *-3% /- 2 *4# i
'*&- *- *' /-'*/4#"/-*- ')(A/+3 ($+348&- ' - C> : *%> *39 i F-9 # % 6 &'3C%X X &-J'*/4#"5&-*- Q %F- 3 (* - - ED > 2 ')(A/ - . &""%/"% 2 - F' 'x'3/- % ' /-LF-9 S /%+9 - . 0 - : - . +3- *-7'**F -7" 7 "%+/( > ( +$&6
. 3-*%+ /- *')(- P@ *C/"*% - . : *%#+*4C&- ' -" KXi > 7#S O'X&- >*- N 6%/4 (7
tD -76/%48 /- . : *- - (7 -" K +*- *-'3*86/% ( F@CF6! 2 - &' 'Y%+* X /- i "7(%& - .7i &-9w/%9*% - . 0 H-J6 &' XiPS + -7" 7 *- 3-'*3 - HS S 2 #L M+ *' (71"(%F+*Q'*&- : 2 - . '3/4C4#/- -76/%+4C /-&-9 ./ 9 ( S 2 (*C"7(%&*Q&%
'*&4 > -7*9 - # 6 *9 *- 3-'*F0
%Y ;. /% (4 +3 A'X . -4#*- 8 93- 6 2 %+3"5* 39 -76/%48 &- &'3%+/
" %+&6+*- *-'3* - "F%++39J6/%+4 i 6%/4 S ( ')( S 1 *' 6% . 4#*- M> -7' ; 9*9 (7[6 &-Q*- 3-'*F&0 H- X&9$&6KED7&4 - - . ; "5/ > S 2 G'*&4 > -7 (3+[6% . 4#*- . (*% i7S *' +*- *-'3 - ( -" 7aS ( ')(Y'3/- - 4#/ F6 (L6%+ . 4#*- VF-9
%+&-e6/%+4 ["&%+39 %* - Q9* %*9C6&%+4 > 2 4 - - . -/- *+3- -76/%+4C /&-9I . 4#*- - . [S ( -76/%48 &- 6%+/4 (*% -" K *- 3-'*3*0 - 2&i&S . *-3% 8*- 3-'*B6%+/4 ( L%*"%**- /-J>&+39T&- '*L97*% : 39 6%+/4 F% . $>5A9 2 &6
tD *0
[9*'*% > ([ . /% (4 - (%+3= *" # 9*- N 'X &-&6A'*/4#4C&- -76/%48 &- i
6 /- %*'*&4C" K /- i &-9 . *-7*% &-P0
h
Hf ` `_ _ a e _ `
* i5S 19*'*% >BI%+ 7 - S ( ')( i . : *-wI" %!&6*- 3-'*3 i 9 *%+4 -7* S ( ')(J+3- 3-'*'3/- + *- '*/- : 2 -76/%+4C /-#&""XF% - . -8>5 (I+3- *-7'**30(V( `% 7 - S ;
>$F"" *9 C ; " %+VF6<*- 3-'*3 - ( -" K + &6?%+ *9Y+3- *-'3*30
V(7 - /-d>53( -79 (%+ K -7 U'*&4C"F%+ ; '*&- *- IF6/-O+3- %+
3-'* (/x&6 ($ (7*% i &-79 #+ *' ! ($4#/ 4 ; F% /-3*0 6='* %+ i (7 SW ( '*&4C"F% /- G9/-$9*"*-97/- (x"F% ' &%+3- *-'31%+3"%+3+*- /- *9P0 r . AA9
+3- *-7'*%+3"%+3+3- /- S 9C*4#"(& 3!+3- *-7'*L6X %* ( &%+%+ : &- 6&%a'3/4 "&% /-B ')(8&[9*"*-97*-' *a>5 HS 3*-I*- 3-'*'*/-7 3- i@S ( . -/% - . %+%+ : F- 6X %* ')(O& '*&- *- /%9*% - . 0 r %+3"%+3+*- /- S ( ')( N7 (*%+ P@ %+34C3- 193"53-93-' 2 >&*9%+*"7%+**- &-P0
S ;N % 9 ( S ( %+3"%+3+*- /- '*&4C" K *9 9*'*% >Yw4# (A9
6/% ;. - - . 9*"*-97*-' 2T %+3* ?&-9 (7*-w"%+3+3- M4C (A9J6/%+ 3' - . '*&4C"/-3- '*&- : 2 - . : 3% F"" - . -76/%48 /-,0
!" A"["
U!
H-s4C&- 2 K &"7" 'X /- i (I % ' %+I&6G+*- *-'3 x%*"%*+3- *9 - . "7(%&
% ' % %+*3*0 r -U *%- : B%+3"%+3+3- /- $ ZAll V!ZAl V`SYj #l)l S ( ')(U9*'*% >53
(7O*- 3-'* % ' + %+ - *%+4#B&69*"*-97*-' *C>5 HS 3*- S /%9*0 V(O 4 ; &% H2 &6
(7 9*"*-79*-' 2 %* M8"7%+*9 'X &% .& 4C3- % ' % 4C&3 8- + % %+3"%+3+3- &- 6/%L %'*/4#"&% +&-P0 V( %+3"%+3+3- /-w'X&-w>1'*/-7 % ' *9w6%+/4 (1 7 " K
&6L %&9 /- "&%+*%30 H-d6 &' *iS 97 : /"*9 J% >&+39 '3/4C"/-3- # ( B %+&- 6/%4C (G"(%+&+ % ' %+L K " 7 &6 ` - ["&%+*% ` -7 i ]] < Q9*"*-79*-' 2
%+3"%+3+3- /-P0
V(7O"7%+A'**B&6G'*/4#"&% - . %+*31'X&-d>I6 % (*% 6 F' ; 39 6 (M9*"*-79*-' 2
%* I&> %&' 39 ds'*&-/- 'X 6/%+4 S ( ')(^ 4 - *#6X + %+3 %+% : &- M (7
'*&4C"F% /-P0 &%GtD7&4C" i (x9 p 3%+3-'* - . %F4C4C 'X 6X + %+3! ')(J&! D ; &% * i
- 4 >*%&-9 *-7+x( : B48F% . - p 3' GS (*- '3/4#"&% - .1 (Q4#X&- - . &6 *- 3-'*3*0
V(3%+36&%+ i S B%+*"7%+**- - (19*"*-79*-' 2w %+31/- 2 -&- D &% 2MS /%+97 S ( ( %
u
confirm
IDF
spokeswoman
this
but
said
fire
Palestinian
anti-tank
missile
at
bulldozer
./ %+ 0 # L3"53-9*-7' 28 %+3!&6
j k ; n
Kj=n[T ZCj klNT l)nEj V TV7n
(!*- 3-'* PklsnYX ' l)n(Xqm TV Z ZGV`Xqj(S3X V !$#tm
!$#l Z TV TVj&%Hj TV('1m ;n)n l T&j T Z"Xql #_X VJj klLn j l &+A' *9 . %+&4C4C 'X 6* %* (7R 4 - 39 D ; &% 2 S /%9'*&-^>5w%+3'*%X *9
- . (3+a%+*'3/%+97*9$6* %+*300H-x&99 &- iXS %+&-6&%+4 & (7a"F+ : : '*+3- *-'3*
( &' : : '* i ')(&- . - .T (/%+97*%8F6&""%/"% O')( ; 97%+*-,0 r - tDF4C" F6
+3- *-7'* F-9 V93"53-93-' 2Y %* V( S - - ;./ %0 0
! "
% ;. -4C3- &6 79 *"*-93-' 2x %+3* <9% : 3-1> 2$HS + %+'*3=&6 -76&%+4C /- # L4#XF %
&6 4 ; F% H2 >5 HS 3 *- HS . : 3- S &%+9 i F-9 (8 4 ; &% H2 > HS **- (I % ' %M&6
(7M9*"*-97*-' 2s %+3*30 &%+M+"*' N '* ;2/i (I 4 &% H2 4#XF %* & - &'*'3 - 4#/%+ (&- S /%9 97*- H2 # (3+! 9*- 6 2 4 ; F% S /%+9 S ( ')(8&""X&%&[ 2 -7/- 2 4#
- &%+Y
9 KG &%8"&%+&"(%+&+3M&'3'*/%9 - .T ( 7 /4C 'X ;2 '*/-7 % ' *9 9 ' /-F% 2
93+'*% >*9 - (1"%+ : ')(&" 3%*8
0 H-T9 *%4 - - .8 (1 % ' + % 4 ; &% H2 >5 HS 3*HS %** i<S F - &'3'* - $ ( H2 "53 &6V39 . * S ( ')( -9 'X (C%+ /-( "
> HS **-#-A9* 6/% tD7&4C" i - F 2$ ( &-139 . V'3/--3' - . L > *' F-9 : 3%+>
-Y/-7Q*- 3-'*$'*/%%+3+"/-9 C&-Y*9 . $'3/--3' - . &- F9 *' : Q&-9O- - -O&- (3%
+3- *-7'*&0
- S . : &- - : $tDK" &- /- &6[( S % %+3 4 &% H2 6 -' /- i 9 2 Ji `'*&4C" K *9,&0 6 (/" 48 ;. -4C3- F6 HS %+*3 @- S - i7 (7*- (7
- *9M> : ; C&6 (C 4 ; &% H2 6 -' /- (C 4 &6 (C 4 ; &% H2 '*/%* F6V ;. -39R-7K93
&-9 . -3939 . *30 -'3 (x>* ;. -4C3- F6 . : *- %** G- @- S -w#"% /% iS + 3' (48 D 48 '*/%&4#/- . " > ! ;. -4C3- `F6 ( %+*3*0 H- XF9OF6 EDK( : 2 %+ : *% - .L ( "&'3 &6 "/+ > ;. -74C3- i S `%+*' %+ : 2 '*/-7 % ' < ( >* ;. -4#*- 6/% %+3*&6 . : 3-J9*" ( i F+ 4 - .8 ( !S @- S ( S N -9w&-J/" 4C ;. -4#*- 6&% %+3*G&6?+(/% 3%93" (,0 &%++"*' N '* ;2/i *&')( " - &6 (7 % : 3%+ S '*/- 93% HS 1'*&+3*50 H- ( N %+ 'X& iHS /"M-A9* &%+ ;. -*9 . (3%V&-9 ( %
')( 9%*- F%+$ . -*9 - &-/" 48 ,S 2&i &"" 2 - .B (7$% 7 - #+(/% 3% %*3*0 H- (7
+3'*/-79U'XF+ i ( /"T-A91&6a/- %* ;. -7*9 S (w/-1&6 (B')( 9%*-w&6 ( /"
-A9!F6 ( (3% %+* . - S L'*&-M&"7" 2 %a%+ K -7G6/% ( a'3/4#" 7 &- i -7'* S 93'*%+*&+ (7 *- .F (Y&6?/-&6 ( %*3*0
36/% . : - . (V"%*' +9 N - &-1&6 Ji S - %+A9 '*V/4#V- &-P0 (7* %+3 S ( %+A -A9 i S 9*- (x '*/- - - . ')( ; 9%+3- &6 0
/%Q %+* '*/- - - . -A9 i (# > %*I&6 S ( ')(U(& F Q%+A -K97 93- 39 > 2 0
) : *- HS %*3 &-9 7S (C%+A -7K93 #&-9 ;i %*+"*' : 2/i7 (! 4 ; &% H2
> HS *3- ( %** <9 N -39 >5 ( 4CqD 4 4 : *% (7 (%*VtD7"7%+* /-
ti 4CqD # @i &-9 4CqD # &0 V(6 -' /- 9 N -7*9 > 2
$#
"!
5687
>=0
4CqD
%'&()+*,).-0/21 *3)4- / ) 1 9 2/ &:%<;
@?A? CB ? BDB$#
@? B3FE
S ( 3%+HG ?9I IJKB (+ &6 ; "/+ > 48 ')( - . V> HS **- I &-9 IJ i F-9 B4C ')( - .8? >5 HS 3*- I F-9 I B Y >+ &6 IMLI ')( ( 6/%Y&- 2 HS 9 -' R P &-9 >"!S
R PQ 0 &%+9 F-9 *9 . x 4 ; F% H2 +'3/%+3
*4#*- ?N >OB ?NP PQKB Ji >5 ( @!S
S *%+Q4C&- ;2 97*% : 39 >&*9/- % - ./ ' - + /- i &-9 S 3%+ (3- >+ P@ *- 2
(&-79 + -*9 - . M+4C 9 : /"4#*- '*&%+" 30GH- : 2/iP (7148qD 4 X /- - (7
6&%+4 X&%')(*=6/% ( >* "/+ > ;. -4#*- 6/% ( ')( 9%*- -7K93
&6 ( . : *-8" %=&6P-K97**0 @? OB [ P@ <T i S (3- ( S &%+9a&6 (-7K93
Y&-9 &%$ PA &%!&%$ 2 -/- 2 4C - /%Y9 K 0 iS (3- ( 2 &%+Q"&%+&"(%+&+3L&' '*&%+9 - .# C %9 ' &-&% 2 &-79 0 T (*% S &0 =U
@?9
:OB PA 0 i S (7* (739 . *a&%&6 97*- 'X H2 "!&-79 (7 2 &%G> (8; &65 (3%a > *' L : *%>I/% : 3%+> /> 3' H2 "5 0 u i -R ; (3%Q'*&+3 S (3%+C*9 . 3xF%+#&6 (C+&4# H2 " =F-9 (7*% S +F0 H (7x>& 'XF+ i5S (*-J/-7x&6 ( %+*3L(&!9*" (J/- i ? B 9 N -7*9
B> V
@? B 0
V(7I'*/4#" 7 /-T&6 (7I 4 &% H2 6 -' /- Q"*%6&%+4#*9 - . >5 + &4 "d9 2 -&4 '8"%+ . %&4#4 - .iS (*% -" K %** S ( S *%193" ( &%M'*/4#" 7 *9 N % 0
V( ;. -74C3- %+ K -7L%+ %- ( 4 ; &% H2 +'3/%+&6 ( %**G& S & (/" 4C T>T confirm
confirm
IDF
spokeswoman
this
but
erupt
IDF
spokeswoman
this
but
said
clash
fire
anti-tank
missile
Palestinian
when
said
at
fire
fire
bulldozer
erupt
clash
Palestinian
Palestinian
militant
when
anti-tank
missile
machine gun
and anti-tank
missile
at
at
fire
bulldozer
bulldozer
Palestinian
militant
machine gun
and anti-tank
missile
at
that
bulldozer
build
that
build
embarkment
embarkment
./
%0
in
protect
area
better
# israeli
force
in
protect
area
better
israeli
force
S #9*"*-79*-' 2Y %+3*&-9 ( % ;. -74C3- a %*&0
4C&"" - . > HS *3- (L > %+*3 &6 -" 7 %**30 ;./ %+ 0 $+( S HS 93"53-9*-7' 2I %+*3
&-9 (7 % ;. -4C3- 0
r [ : 93- 6%/4 ( 9 N - /- i/S &%+/- 2 '3/- 9*% - . /-7 &--K97
4#/ &-J-A9 -^&- (3%
4C ')( - . L # : *% 2 -A9 - /-7 %+3 I4C&""*9 %*F0 ( ; ( C%+3 % ' &- . - N 'X&- +2 93'*%+*&+3 ('*/4#" tD H2 &6 ( /" 4C "!#%$&&'(%)*%,+-!#.%+/01+,32*4#5+',67)78
9 ;: 67+#0<0=+,32*;#>+67);%+?&'/@A0)BC0&7DE!+'6?:GFH67+#0<0=+I'32*#4+',67);+J&'
)&7
+'6H&08LKM;!)0)B';&'!#4&'32N!#+'
N'+$O!
P04E!Q'!0)&R&0C%)42A+'6S6T!#2*VU12,W!
+')B0!#+IS8
X+A
P&%+?Y[ZV\]V^RZ`_;aAbIcV]<-)7U`!A!V&S6d+%[+'
Q+dS!
Nd+6'!S8/'0X0De3-)17U`!A!V&S6
: f :GF;&%;S)R&0!%8<gh!
NMUV!#%'!V0+i%)1
076i%+i
+')B0!+I>0D!)&)&+'$/0'!VUV!S)1#j&'
X+'
&%+HX+6
N'-60+/!&>k,+VlL+G8Em,%+'
>ljR')&>7;nS!V0+GDI&R0#0!o&%>e010,
76'&>%)
pq : Ef :GF7rP8
T>T ;. -4#*- '*&4C" K /- i 48 2T *&9 S %/- . ;. -4C3- *0 %x4C&- &- 2 Q&6
"&%+&"(%+&+39 *- 3-'*3M9*'*% >539 - `(&" *%8uT% : X *9 ( +/4#Y"&%+&"(%+&+3I&%
- 93'*/4#"5&&> S /%+97 i 6&%+4 - . /- 4C&- 2 /%G48&- 2+
4C&- 2 "F%&"(7%&**0EH %I&- 2 iGS J/>*% : *9 ( ')( . -4#*- C4C& 6% P@ *- +2 A'*' % - " %I&6
- - "(7%&*V&-79M" % -' 9 - .$: *%+>7 S (8"&% ' * ? F0 . 0 ? tnEj TV!Z i # ;n l[ BDB 0
4#"% : B %Q . -4#*- Xi 9 % - . O"7%+*"7%+A'** - . . S + *-T > %+3*x'3/- - - .
')( "(%+&+3 - B/--A9&0
r - (*% 4C"/% &- "7%+/"*% H2 &6 %V ;. /% (4 ( "%K9 '** K'* . - 4#*- 0 A'X ;. -74C3- 4C 848&" A'X % . /- S ( ( ;. ( 4 ; &% H28 IX&')(J (3%
% (3% (&- w'*%X O&- : *% ; /" 4C `.& /> ;. -4#*- F6 (Y*- %+ %*&0 V( % .&2 4#/%+4#X&- - . 6 7PS (*-J/- 2 "&% 4C*&- - . : *% &" tDK"53' 39J>5 HS 3* -7" 7 *- 3-'*3 i F - H2 " 'X -76&%+4C /-T6 &- -" K 0 - 2T (7*+M( ;. ( 4 ; &% H2
%+ . &- iS ( ')( S Q'X - 3%++3' /-O > %+3* i &%+ *' *9 #>5 -' 9*9 - (6 /+3- *-7'*&0
HZ
a ] a_ a
V(V-tD P@ 3 /- S G&99%*+ ( S " 7= . (3% - 3%+*' /-B > %*3*0 > : 2/i
&4#/- . (48F- 2 "/ > G'*/4 > - /-7 i S !&%+ - *%+3 *9M/- 2 - (&+L'3/4 > - /-
S ( ')( 2 91*4C&- '* ;2 -9#+3- *-7'**`&-9B9Q- 9 /% ( -76&%+4C /-x%*"X *9
- (7 -" 7 *- 3-'*3*0 O'XF- - tDK" /% : 3% 2 "5&+ > Y'3/4 > - /- i -'* (7
F' J&6V+348F- ' -76/%48 &- - ( %+3* "7%+/( > $6%/4 &+* - . ( PA H2 &6
(7%* 7 - . +3- *-'3*3(0 H- XF9 iAS ! *' '*/4 > - /-B %+*&9 2 "7%+**- - ( -" K
+3- *-7'**[F >& i F-9 %+&-e6/%+4 - L6 +39 +3- *-'3V> 2 %*4# : - . tD %F-* - 6/%48 /-#&-79M . 4#*- - . (G6 +39I+3- *-7'* S ( -K6/%+4C /- 6%+&4g (3%`*- 3-'*3*0
T>T
V(&9 : F- . a&6 ( < % .F2 ( <S (3- ( - *- 3-'* ?+348&- 'X ;2 '*/%%+*' &-9 (7!&"7" *9 %+&-6&%+4C /-="%*+3% : !+348F- ''*&%+%+3' -* i7 (%+* - . *- 3-'*
1*4C&- '* ;2 '3/%+%*' &-&0
V(7R6 /- %*T'*/4#" 7 /- '*/-7 &6 (%+3U *"7 # *' /-^&6 ( 3Tqn ;n
j #)l)l i . 4#*- /- &6 ( %* S ( *%+- : : *%> X &- i F-9 "% - - . &6 (7
ED %&-3 O > %+3*30 V(T+ *' &-^F6 (7T>& %+3 ./ 97*9^> 2 (w- 4 >*%Y&6
- *%+*' &-J > %+3* -' ; 97* - (1>53 '*&+ i '*/- -L ; ')(w > %*3*0OV(
>& %+31'X&-w> : S *9T& (1'*3- %+ 9J&6 ( -" 7 +*- *-'3*
M+*- *-'3 S ( ')(
(4C& 4 &% (7Q (3%G*- 3-'*3 - ( -" 7 0 G - .B ( 4 &% H2 6 -' /93+'*% >*9 -Y+3' /- 00 T iS 93- 6 2 1'**- %+ 9> 2 '*&4C" K - . 6/%X&')(O+3- *-'3 (7
: 3% . G 4 &% H2 '*/%> HS *3- (G+3- *-7'*LF-9 (G%+* &6 ( -" K *- 3-'*3 i F-9
(7*-O+ *' - . B+3- *-7'* S (O148 D 48 '*/%&0
KGED Xi S # . 4#*- (71>& %* S ( -76/%48 &-"%**- - (1 (3% -" K
+3- *-7'**3
0 /%8"53' N 'X 2/i S M&99U *%+- : : *%> X &-6/% (8-7K93 - (7
>& %*$&-9 ( - 3%+*' /- > %+3* S ( ')( &%+Q- "&% F6 (7$>F %+*F0 V(x 3%+- : : 3%+> * /-<&%+ %X&9 ;2 : ; &> 6%/4 ( " % S +` . -4#*- ?&6 (V>& %* S (J (7*% %*3 - ( -" 7 '3/4C" 7 39 - (B"% : +3' /-P0 /%L*&')(T-K97
&6 (Q>& %+3 S x%+3'*/%9J P: *%> X &-V6%+/4 (x-7K93!&6 ($ (7*% -" K %+*3
;. -39 C . : *-O-K97&0 r : *%> X &-M'X&-O>5Q1 - ./ S /%9 i /% '*&-O>5Q1"(%+&+ i
6 x-A9L%+3"%+3+3- x- -M'*/4#"5 -9P0 r -MED7&4#" &6$6 /- %* i . 4#*- 39 S (
*%- : : *%> X &- i . : 3- - ;.& %+ 0 A0 + : 3-UF6 *% ( L . 4#*- &- i, (7
6 /- %+3I4C 2 - -' 9I ; &6 ( - *%+*' /- > %**30 V(I4C -T9 ' H2 > %* -*% /- N -9 - . V% ;. ( " &'*34C3- XiS ( ')( V&6 3-9 3%+4 -39O> 2M: &% + %+'3*G&6 @- S *9 . # 2 - &' ' i +*4C&- '&-9 9 / 2 -'3% 'F0
T>T
^
erupt
clash
fire
fire
fire
erupt
clash
when
Palestinial
Palestinian
militant
fire
Palestinian
militant
when
machine gun
and anti-tank
missile
anti-tank
missile
machine gun
and anti-tank
missile
at
while
bulldozer
using
that
bulldozer
bulldozer
bulldozer
build
embarkment
in
protect
area
better
that
israeli
force
to
build
embarkment
new
embarkment
;./
at
at
in
in
protect
area
area
better
israeli
force
%+0 # r >& %*>36/%&-9F6 3% (Q . 4C3- /-
2&i > %+3* S ( ')(IF%+G- "&% F6 ( - *%+*' &-8&%"7% -39I pM (>& %*F0 - S : *% i %+*4# : - . ; ')( > %+3* %**M4C 2 %* - &- - . %+&4#48 '* /%*4C&- '* ;2 S 39U+3- *-7'* ?6/%ED7&4#" iPS B4 ;. ( '3%+* #M+3- *-'3 S ( 7
> *' 0 V( 1 : *%"% - - . 4C 2 (&"7"53- 6G (*% ( -" 71 (I6 /-d ;. /% (4
C- 2/i &% (7J . -4#*- 6 ; *9 9*- 6 2d ( 4 ; &% H2 > HS *3-^/4# > %**30
V(3%+36&%+ i/S V"*%6&%+4 4C/%`'3/-+3% : : V"7% - - .i 97 - . 6 '*/- -39 '*&4C"/-3- S ( ')( 'X&- >5%+*4# : 39 S ( 7C * : - . -&- H. %+&4#48 '* *- 3-'*3*0 r C"%+ : 2
/>*% : *9 - ( *% % ? - . &-79 ' 3 S - i u Bti ')( '*&4C"/-3- -' 9O
-
T>T
]
fire
fire
fire
Palestinial
Palestinian
militant
anti-tank
missile
machine gun
and anti-tank
missile
at
at
while
using
bulldozer
bulldozer
bulldozer
that
to
build
embarkment
new
embarkment
;.&
in
in
protect
area
area
better
israeli
force
%+0 # =% -*9>& %*
' - ($' +Q'*/- -' /- i % : ' +3 i &-9+/4#$ 34C3- S ( -OC' ? ')(O& F9 : 3%+>&-79M"%+/"/ /- B 0 - '3 (7*+ > %+*3&%+%+34C : 39 i7 (!6 /- +% 3
'*&- % ' &- V'*/4#" 39P0
?L
a
;2/i %+348 - -7X&% *YT6 /- %+* - RR*- 3-'*F0 3- *-'3 . *-7*% & -7' ; 9*+ 3' /-w&6V %* %+ : *% /%9*%$&-9 tD 'X ')( '*#&4#/- . : ; F> x *% - : **0 I9/- ( : '*/-7 97*% ; (7I"5&+ > %+ : *% i -'3 (8- 4 >*%$&6
-
T
u
: 9 % : *%++ 4 39 > 2 /%+93% - . '*/- %+ - Q*-7'*A9*9 - (B6 /- %+3&0 -'3
(7*+1'3/- % - F%+ -(*% *96%/4 8>& %+* i, (7 2 9M- 4#"5/x%* % ' /-/ (7#-7K93 -*% *9T6%+/4 (3% %+3* - ( -" K 0V(*%36/% i (# . /% (74o ; (F
')(A/+8&4C&- . 3%+- : : *%> X &-Q&-9 +O(& + *' &-U&""%/"% /%9*%V6%+&4 &4#/- . 9 p 3%+3- /%9*%&6 ( -*% *9 %**30
( ; (#+ *' &-TF6 S /%+9$&-9T"(%+&+3 S ( ')(R&""X&% - (B>& %+3 q61')( '3 i 3-% ')( - .C ( 6 /-J*- 3-'* S (w *%- : : *%> X &-!(F+ : *%+ >*- N 30 /%$tD7&4C" iS (*- (8>& %*C'*/- -x- -s"(%F+ S (sF-&"(&% '
EDK"%* &- ? &0 . 0 tk ;
n ;n j B &-79U/-B&6 (C *%- : : *%+> X /- Q&-&"(7/% 6%+3 i > K &- &6 ( *%Q6/% (M&-F"(/% 'ItD7"7%+* /- -'3%+XF+* (I' &% H2 &6
(78"%K9 '**9U+*- *-'3&0 H- &"" 'X &- ')(dFx 4C4C&% X /- S (7*%+ ( *- .& (T&6
(7M"%+A9 '3*9 +*- *-'3 1 6 &' /% i J+(7/% *%B *%- : 93 %&> &0 * 93#'*&+3
S (3%+ (8 > +7 /- "%+E6*%F> C> 7 - 48&-79 &% 2/i (7*%+8&%+#'XF+* S (*% I%+ P@ %*9J *"J6/% . *-3% /- F6 *- *- 3-'*F0 r I%* F6[ > %+3 -*% /-7
&-9R9 /- i ( S &%+9 +39 - (7C>F %+*#4C 2 -7 >5C . KA9w')( '38q6 *% (7
%+&-e6/%+4C /-30 &%1ED7&4#" i 6 (Y"(%+&+ AX # S3X # #l)n YX V!ZAl Vj 1%*4# : *9 6%+/4
(7#*- 3-'*
Uk T #<X V j X Z X # S3X ##l)n YX V!ZAl VjGj Uk T&jGjklMl 3l SEj X V7n `l #l ZAl T l Z i
%+3" F'**4#*- &6 ( : *%+> 32j X ZU S ( t[n T ZU 2 914#/%+%X&9F> *- 3-'*F0
H-O&979 /- tD 'X ')( '* i (3%+ &- (*% P@ 3 /-Y'*&-'*3%+- - .1 ( -+3% *9
%*3 # : 3- (7 . ( ( %V/%9*% - . G"&% 2 '*/-7 %+ -7*9O> 2M ( %V/% . - *- 3-'*3 i
(7 2 ; 48 2 >w/%+93%+39 -^+ : 3% "5&+ > S 2 30 ( (w/%9*% - . &6x48&- 2
+3- *-7'*1'*&- *- G9 *%+4 -7*9 > 2Y (7 %G 2 - F' 'x% 3 i +/4#x'3/- + *- i ')(
&B' %+' 4C &- i &%Y6%* w4# : ? + (&9&9d 0 i u T B 0 H- H2 " '* V &- ./ . . 3-*%+ /-U 2 34 i " &'*34C3- &6V ')(d' +3 ./ 9*9R> 2R ( %$*4C&- ' H2 "5MF-9
T Vu T
6%+ P@ *- 2 9 / 2 -'*%+ '&0
-X&% * /-I&6 (7L6 /-M+3- *-'3 - : : * (+ *' /-M&6 (>* "(%+& - .
& S ; & (79 3%+4 - /-d&6!/" 4C /%9*% - . 0 -7'* S 9T- ( : ' *- +348F- ' -76&%+4C /- "*%e6/%+4 ')(s+ 3' /- i %$ ;. &% (4 $97% : *- > 2 '*/%" 93% : *9 @- S *9 . F0 . 3-*%+ ` ; "/ > +*- *-'3*=6%/4 ( : 9 % : 3%++ ?&6 (7
6 /- %* i F-9w+'*&%+ ( % & (KA9 F'*'*&%+9 - .M Y '*93% : *9w6%+&4 M'*/%" 30
V( x&"7"%+ F')( i &% ;. - 2 "%/"5&+*9U> 2 ? &- . ; 9#&-9 - ;. ( *i T ]]^ BEi $O &-9&%9
4# (7K9 - 'X L. *-7*% &-P0 % -39 . %&4 4CA9 : *% &6 - S &% ' 3 - . (7 F4 >% 9 . @ '* &- .& . A9 - .U A ? *'3/-9
: 3%+ /- B _
0 V(B*- 3-'* S ( ( S * 3- .& ( -/%48 3*9*- %/" 2 L *' *9R& (7
: 3%+> * /-Y&6 (6 /- %+3&0 ;./ %
0 B( S !+ : 3% : *%> X &-V"%+A9 '3*9> 2
% ;. /% (4 6%/4 ('*3- % %+* - ;./ %
0 70
* - 3-'*
+[- %+/" 2
< * - &- N %*9&-&- &- 84 + ; L 1> 9**%30
70vu < * - &-84 ; &- N %*9I4C&')( - ./ -a&-9MF- &-14 A0 ^ ; * 1> 9**%30
< * - &-84 ; &- N %*9I4C&')( - ./ -a&-9MF- &-14 K0vu/u
; *[ > 9 **% ( =S &[> 9 - . &-B*4 >&-@4C3- - (
&%+*70
< * - &- N %+*9 &- &-T4 + 3 S ( ; - .
> ;
A0
9 *3%*0
< * - &- N %+39M&- F-B4 + x> 9
**% x> ; 9I
A0 S
- 34 >&- A4#*- - (Q&%+*70
./ %+0 # r *%- : -*&% X /-&6 (7[6 &- %+3 S ( (['*/%%+*"5&-9 - . 3- +% &" 2
: ; *
F +=0!
P0%
DljR)0!#%1+'+ q : rh'!#&')LXL
7+'
07!)B+')78
0
4 T
u&u
4 L : ; (`*- 3-'* 6 &-1 ;. /% (4 - *%4C?&6'*&- *- 3' /-1F-9 (7
. %+&4C4C 'X H2 F6 (B"%+A9 '3*9T+*- *-'3**0 ?%+&9 /- ;2 ? - ;. ( F-9 &%+' Pi u i u u BEi (3+C9 4#*- /-7x&%C : ; *9R+3"&% 2w : 9R'*/-76 &- - 9 .H
4#*- 0 + : ; - . '3/- *- + *' /- 4C&%+B"%+&> 348 ' (&-T : - .Y. %F4C4C 'X H2&i 9 (19 . %+3#F6` > *' : H2 -7(*%*- - ( 9 . 4C3- 0 - S : *% i - F
-R . *-3% 'B 4C4C&% X &-w&"" 'X &- S (7*%+ ( -K6/%+4C /- $ 3' *9s&'3'*/%9 - .
I -93%++"*' N 39w *-7'* '3% *% i (x'*% 3% B6/%!'3/- 3- *' /- - -76/%+4C /6 /-sF%+84#/%8'*&-'*% F0 V(*%36/% i '3/4C"&% +/- S (sF- 97X K " 7 : 9
4# (7K9 L : ( P@ H2 &6 (7 7 " 7 00 H-1 ')(C&-1 : /- i !6 /- *- 3-'*
. 3-*%+ 39 > 2 Y( 4C&- Q'3/4#"&%+39 /- . 3-*%+ 39U> 2w (C 2 *4O0 r 4#/- . 48&- 2
"/+ > S 2 "*%6&%+4 ')(OQ'*/4#"&% +&- iAS L')(&+ Q6 ; S ( V : ; /"%K'3*9 % #= (7 9 . &+3++3 : *% &"Y/- (' + : >5 HS 3*- (( 4C&- '*%+* 39
%+E6*%*-'3+*- *-'3$F-9 (! 2 *4 K " 7*i7 - .$ (L%+ - . 8
; : 3% F"@ ? u Bti L<&% : *% &"@ ? T B F-9 KJ : *% &"@ ? B 0 %+&4 (M : 3% F"s9 i<S M'3/4#" 7 8%+*'* ;
&-9R"%+3' &-P0 V( . %F4C4C 'X H2 %+ 39 - (7%+*C'X . &% 3 # )%+&4#48 '* ? u BEi
?&% 2 )%+&4#48 '* ? T BEi F-9 LK )%&4#4C 'X ? B 0
H-x&99 /- ( 2 *4 . 3-*%+ 39x+3- *-7'* i/S + -' 9*9 - (7a : ; /#6 &- +3- *-7'* . 3-*%+ 39J> 2 &-7 (3%!( 4C&- F-9 HS I>& -*3E0 V(7 N % >&+ -7
((/% * +3- *-7'*$&4C&- .$ ( (7*4#L+3- *-'3* iS ( ')( a/> : 2C. %&4#4C 'X i
&-9$ + (& . AK9')(&-7'*`F67> - . %*"%**- : `&6K'*/4#4#/- /" '* '*&- : 2 *9 - (7
-7" 7 G
0 V(7#*'3/-9U>&+ -7 "%K9 '**9T> 2 M 4#" N '* /- &6a % ;. /% (4 iS (*%
q 4
';7+I
4+'670)B0!+'6%+
$ h+X0+'
Sre%) ! C+ 2'!)BS61UV!#%'!#&%+A)B';Q!&%n7!#&%+
)&,)B&7Q)0$!#+'n7762,38h'!#&$U7)!;2'!
Nk,$&+'6%+X&Q!V0+/+
8
T
u
"&%+&"(%+&+ -76&%+4C /- #/4 + *9 9 % - .R ( ;. -74C3- "%K'3**0 V( 8>&+ -7 -7' ; 9*9 'XF" % (7!'*&- % > 7 /-8F6 "&%F"(%F - . -76&%+4C /- (!"*%e6/%+4C&-'3
&6 (6 /-O . /% (4O00V(7 9 . . : *-B%+363%+3-'*Q+3- *-'31 /- . S (O# 2 34
. 3-*%+ 39T*- 3-'* i C+*- *-'3C"%K9 '*39T> 2 &- (*%L( 4C&- i &-9 HS M>&+ -7**0 +'3%&4x> 39 (/%+97*%&6 ( 7 " 7 !&'3%+/ * 'X&**0
;. &% (4 i S 3' *9 8+ &6[% 39 +3- M : %+*- *-'3#6 / 3-'*3C6%/4 4C 3% '3 ; *' *9 > 2 K S +> & *%*0 +[&')( B: &% *9d6%+/4 HS w . ( +3- *-7'** i S ( 0 +3- *-7'**x/- : 3% . &0 r S #4C3- /-7*9R&>5 : i 4 N -93%9K3
- S 2 L"%+A9 '31&'3' %+ (*4#* 0 V(3%+36&%+ i5 ( ( 4C&- '3%+* - . %+E6*%*-'3 +3- 3-'*3[(&9#&-B/" /-1- . 3-*%+ &- 2 6 ( (*4#V+3- *-7'**a(&9 ++ -1'*&4C4#/-P0
) : 3- + i/ (`( 4C&- 9 . . 3-*%+ 39 0T`6 &-x+3- *-7'**30 r - tDF4C" aF6 (7*4#
6/% S ( ')(-7#*- 3-'* S F . *-3% *9 V+(7 S - - ./ %
0 ^ 0 : ; ( 2 34
"*%6&%+4C&-'*/- 2 &- (3+ 0T!+ *0au 7 &6 UTL+3- *-'3*G"%+A9 '3*9M> 2# ( ;. /% (4
'*&4 > -7*9 "7(%&*!6%/4 + : 3% *- 3-'*3 iPS ( (Q%+3 F6 ($+3- *-'3* S *% (3%
>+ PA *-'3*&6 (/% ;. - +3- *-'3* ? T B &% S *%Q6 7;2 ED %&' *9 ? u B 0
;./ %
0 ] ( S HS R*- 3-'*386%+&4 ( * '3/%+" i /- .JS ( -" 7 +3- 3-'*3*0 V(xtD7&4C" *G&%')(/*- CF B%+ *' . AK9YF-9>&9"*%e6/%+4C&-'3'X&*30
./ %+
V(7T%* 0KT +( S '*/4#"%+3+ /- %+ i "%*' /- i &-9 %*'X ; 6&%
XF')( ;. /% (40 V(M'*/4#"%*+ /-s%+ MF6! *- 3-'* S &B'*/4#" 7 *9d& (M% &6
7 " KL 3- .& ( (x : *%+ . *- .& ( &6 ( (34C -" K *- 3-'*3*0 V( . *-3% 2
' /+C48 ')(U> HS *3- (C%+363%+3-'*I*- 3-'*O&-79 (7I+3- *-'3 . *-7*% *9U> 2 &- (3%
e 0$I!V&E&jo7
0)5#Am,%;@'+'675+'-)Bh+T0>7+GD#ljE%+'6'
76! )B%-!#040&S)B'-6R+%+
&0S)
&0S)"lL-
N[!#0+>)&%%!"0&'32'!)B-)L0&7C!#0+4')&76W%+W03XA)B%+W0
S)&)784hI'%
7!#%D
&'10"#&'1+-)B&7;1-)L!;2'!)&-)L)B7+0+'
RN)B78
KM12')&0U76Q&'!#L)&+I0+'
XA)B%+/&S6'
S)h&Q)B7+I&+A
R,&N!
&%+/lL+=!#+/+'L&7R
+I0!+A)
!#%)BL%67+I&-
!#G)&+I0+'
7)78
T
u
V(Q+(F%+*( : Q6 3- "53%+'*3- ( 2 X&%30
V( 2 9 S * S &!6&%+' - .C (*4 ItDK')(&- . ( %!>/-9L C6%+&' /-&6
6 &'3 : ; > HS *3- &uK0 Q"53%+'*3- &-9 ^ uA0 $"*%'*3- *i 93"53-9 - . /- (7L>5&-9
/% + 6 S 3% - ( "*' - . /%9*%6/%L%+3" 2 4C3- - 'XF+ S 3 S *- >% &F0
S 3 (&9U p *%*9 tDK')(&- . " UT uK0 ] > ; &- &6 (8 9R>/-97 i?S ( ')(
'XF%+% *9 - *%+3 % *> HS *3- K0 ^ "53%+'3*- &-9 K0 ] "*%'**- 0
V(Q- S 9*> '*&%+% 3G%+ 3>5 HS 3*- T "*%'*3- &-@
9 T B"*%+'3*- 0
V( % 2 9I6 , #&> 7 T K0 u/ux"*%'**- 6%+/4 T K0 ]^ "53%+'3*- 0
;.& %+
70 ^ #&% 'G1
*1N;D '.;A)/+)"'.B.13=;A,+-2*,+-3I
( 4C&- : 9 3= %=( 2 "5 (* ( &- 9* +3- *-'3V>&*98 : ; &- 6/%='*/- *- + 3' /- 48 &*M*-T6&% ( 6 /- & i >*'* T9 p *%+3- ( 48&-7O"7%+A9 '* : *% 2
4 &% 7 " 7 6/% . : *- -7" 7 0
V(7*+%+3 #'*/- N %+4 %#( 2 " (3 8&> 7B ( 4C"/% &-'3I&6!"&%F"(%F - .
-K6/%+4C /-B6/% (L6 /-I"%K'3**0 4 /-8&6 "&%&"7(%&* ? >&+ -u B '* * ]
9%/" -I%*'* ; 9 -&> ; H2 4C ')(I P@ : *- "(%+&+3 S (I9 p *%*- S /%+9 - . 0
V(G"53%6/%48F-'*V&6 (*'*&-98>F+ -V97*4#/- % * ( = (G+(&% 3 +3- *-7'* [& -&9 P@ V > K &-B6&% 6 /- - *%+4#=&65'*/- *- + *' &-CF S ; &='3/4C"7%+* /% &0
I6 % (3% - : 3 ;. (7 . *-7*% &- 'X&"&' H2 &6 ( -76/%+4C /-Y6 /-J . % (4 i S O'3/-9 ' 39 *"&%+ Y : ; /-s'3/-'3*- %+ 39 /- ( S ; 6/%+4#*97-* &6
(78"%K9 '**9U+*- *-'3**0 C%&-97/4 2 + 3' 39 4#48F% 3 ? T ^ uY+3- *-'3* B 6%+/4
(7
K S +> & *%V% -P0 -M : 3% . i *&')(M+3- *-'3L6 +39I6% . 4C3- a6%/M
4 T/0 ^ (34C+3- 3-'*3*0 V(I( 4C&- 9 . 9*- N *9 T ? ^ u B +3- *-'3*#& . %&4#4C 'X 0 - 2 u ? B 4#48F% 3V9 9Y- '*/- -O&- 2M - . %&4#48 '* +*- *-'3**0
V(7C4C/% H2 F6`4 F*/% . - 39 6%+/4 -7X&% X &- '*/4#"/-*- 0 &3
Tu T
V(6/%* &>5 7 4 3 S 3 &60?/% F-9P0
V( % >K9 * S 3%+V6 -9 %9 2 -BL%+*4# "&% &6! ; &4#K
A /%* *i &> 7
4 ; 3 S * &60?/% &-9P0
+ B( - 3%+`6 -9 ( %>5A9 * %+9 2 - ( ; F4CA A /%+3 *i F>5 K 4 ; * S * &6 (7#6 &4 ;2 L(7/4C S -T&6N/% >
F-9P0
V(&%X S (3%+ ( >K9 * S *% 6 -9 - L4C - -7 ?6&%+* &> 7 4 ; * S * &06 ?&% &-9P0
%9 2 - (M
V(M>K9 * S 3%+M6 -9
; &4CA @ /%+3 S * F6 /% + &-9 0
% "*&" -' 9 - . &-JH &4 'I' *% 'I( : O>*3- 97 -39 < &- q6 *% 6 &' 8/- 1')( %')( /- `(% 48& 2 0
. %+3-&9$ > ? '39 -39 D"53/" $/- V( %+9 2 6 S - .
F' O&-JC')( %')( ( ;; *9 (%* . % G&-9 S -79*9 T "53/" /- `(% 48F 2 0
r F%+')( T . %+3-&9 + F' x/-B =%+ * &- ')( %+')( G
- H &4C&>F9
; *9 N7: 8"*&" i -' 9 - .
Q0 0 +=4 >&+ 2 34C" 2 38&-79R(3%
T [2 *&% 9Y9 . ( 3%*0
- &%+')( T i . %+3-&9G &' x/-8 =%+ * &- ')( %+')( - H &4 &>F9 ;; *9 N: "*/" i -' ; 9 - . $0 0 +=4 >&+ 2 34C" 2 *L&-9
(3% T [2 X&% 9Y9 . ( *%*0
- &%')( T . %+3-&9 + F' /- "7%+ * &- ')( %+')(
- H &4C&>F9 ; *9 D "*&" 0
./ %
0 ] # + D7&4#" * 6%+&4 ( * 0
u
)*-3% *9
T
u
)*-3% *9
(3+1'* . /% 2 -' 9 -'*&%+%+3' + *' &- &6[9 *%4 -*% ? u BEiS %+/- . %+X * /-Y&6
- . /- '3/- % ' /- ? ^ B &-9 *- ? B 0 (3%84 F*8%* 6%+/4 ( : *%+' 7
9 % - .$ (L"7% - - . "7%+A'** ? B &-9 (! >5&" 48 ED '* ')(7 '3!6/% (L-A93 &6 (7
. 4C3- *9 '*3- % %+3 ? B 0 ;.& %+0KT>TM( S CtDF4C" *1&64 &3 - (7I6 /+3- *-7'**30
-
Tu %+ P@ 3-' 2 `/4#"%+3+ /- =%+3' &- *'X ; )%+&4#48 '* H2
^
A2 *4
^
uK0 u
& - T
0T
& -Qu
^
^
uK0 u
] u
- 4C& T ./ %+0KT # + : ; &-T%* $6/%( 4C&-U'3%F6 *9R6 &-R*- 3-'* i %Q 2 *4 7L
" 7*i (#+(&% 3 +3- *-7'* - ( (34C ? >&+ - T B &-9RY 4#" N 39 : 3%+ /-UF6` %
. /% (4 S ( K "&%F"(%F - . -76/%48 /- ? >& -Qu B 0
V(Q'* /- B( : Q" 2 B'3*- %+ %+ &0
+[&% 3% V( %+9 2 F>5 K T 4C34 >53%+V&6<&-Y L"5 '3 - V ( S &V' /+ 6/%+4#*N% =%* 9*- K />K9F- ; /+ : ' S *%$F%+%+3 *9
/-I +" ' /- (7 2 ( "539I/% . &- 3 (
; - . /- .QS ( (!"5 '* - 0
K&% ( &%+X *&% 3%a( - *9 * > 7 &"&-3+ ' a+ 9 (*%
S &-7 -9 'X /- VS FG"7%+*"&%+39P0
./ %
0 T T # +<D7&4C" *&6?4 &3 - . *-7*% *9O+3- *-7'**30
0
4 r (I : ; &-U+(7 S i %1 . /% (4 7 "*%e6/%+4# (I(/% * +*- *-'3O>&+ -7
- *%4C!&6['*/- *- + *' /- i5S ( 7 8 ;. - N 'XF- 9%+&" - . %+&4#48 '* H2 0 +(7 S *9 ( 7. 4C3- - . (C6 /-s"%+A'*3+ S ( "F%&"(7%& - . @- S *9 . 4C"7%+ : 3
(7x 7 " 7 > 2 > (4C*& %*30 - S : *% iP (*% G ; . &" > HS *3-J % 2 *4 F-9
( 4C&-Y"53%6/%48&-7'*&0
%[4C&- &- 2 =&6 ( 7 " 7 %+ : X *9 ( /4# e4 &*L$4C&9> 21 (7
. /% (4 'XF-C>! + % > K *9 $"%/> *4# S (C ;. -4#*- 0 %& 4#" /-C&>5 7 /- /-4C&"" - . 9A*`-7 S 2 a( 9 @-&4# 2&i/HS %+3*a'*/- : 2 - .x (G&4#4C*&- - .
4C 2 - >L93'*/4#"/&> - (-7K9 : 4C&"" - . S ( ')(Y % ;. /% (4 4# '*&4C" K &0 /%VED7&4#" i (4C&"" - . >5 HS 3*- (7Q*- 3-'*3 - ./ %+
70 T u1EDK"%*+*9
> 2 (71% ZAl V l Z S T mxn [n T ZOj Uk T&
j n S T m 5Tqn Vj # [l '*&-- T
u
>Q97*'*&4C"/+39 - B+4C ; *%a48 ')( - .# - *0
A2 % 19*- *9O' 4# > 2 H+%+& =% 4C - 3% r % (&%+&-P0*030
V( A2 % &-Y+"&3+4C&-+ 9 ( (&%/- ' 4 S & - % &0*030
./ %+ 0 T u #&% *)6=&;D /21?'H-21?'.9<1?/ 457.)9L7G9 ' '+;-@1NDF, OB.1?9<; *@;A/21?BYI
* 9* (Q( . (Y'*/4#" 7 /- '3/ &+A' *9 S (4C&- 2+
4C&- 2 4C&"" - .i
')(d 48F"" - . %+ P@ %* 9 ' &-&% 2 F6V' + : "&%+&"(%+&+3 S ( ')(s'*&- - >
'*&4C" K *9 S ( ED - . 4C (A9*0 Q"&% 2 &'*'3 - 6/% ( G"(3-/4#*-/-> 2 '3 F" - . -7 - "7(%&* - #'*/4#"5& -K97*LF-9 '3/4C"&% - .# (*4 . -7 /4 'F-9
(*%'*/4#"/ =-A9* i S - . /- /-[/%48F- 2+
48&- 2 48 ')(* 6/% (7*+a-A9* i
> 7 &6a'* %+ (*% %+A/4o6/% . - N 'X&- 4C"% : *4#*- -wF99%+3+ - .Y ( "%+&> 340
r -7 (3% 4 /-1&6 % ;. &% (4g'*&-'*3%+- (7 S ;. ( .& 9 - .$ ( ;. -4#*- "%+ '*3+30 T9 9 %>* N %9 : /"4#*- 9 > 2 (&-79 1d4C/%w 2 *4C '
&""7%+ &')( "&%+&4# 3%83 48 &- 4C 2 "7%+A9 '* >5 + 3%I%+3 30 H- "%+ : S /% i
(7$3 48 &-O"7%+A'**9 %+3L%+ 39&- &% . ( 48&- &--7 *9O'*/%" i5S ( ')( S &!- : ; &> G6/%V % & 0
- ( . *-7*% &-C 9 i@S !'*&- 4#"%+ : ( P@ H2 &6,6 /-# 7 " 7S (C4#/%+
" S *%e6 P &- ./ . !4#K97 30 %%+*- +2/iS %+3 % ' (7 H2 "*&6 "/ > -+3% /-VF-9
9 /-7x9 (7 S *U'*&"&> ; H2 &6 (7 &- ./ . C4CA9 9 - ./ +( S ( (3%
I+3- *-7'* S 6/%+4#*9/- /%!- 0 &%+ (&-J/-'3 iPS 1/>*% : *9 ( &- ./ . 4#K9 + 3' 39 - . %&4#48 '* *- 3-'*3 i &+ ;. - - . S *%?+'3/%+ LG>5 + *%+*- *-'3&0
/%ED7&4#" i ( N 6 ( *- 3-'* - ;./ %+
0 V- S 6&%+4#*9M+3- *-7'* 5( S : 3% i
% &- ./ . 4#K9 K. : !> + *% '*/% (&- S ; 6/%4C39 *%- : 3 ? (a+*' /-9 &-9 ( ( %+9 *- 3-'*3 B 0 V(3%+36&%+ i S 4 - *9 ( ;. ( % . %&-76/%48 /-7 i
T
u
^
S ( ')(M%+*9 '*3 ( . *-3% : !"5 S *%V&6 (L . /% (740 G3'*3- %*X&%')( ? 4# 0 i
u u B (F+( S - ( 2 - qD >&+39 &- ./ . 4#K9 !&%+ 4#/% &> $6&% &- ./ . . 3-*%+ /- ( 9 2 &6? ')(4CA9 B"%/4 - . 9 %+*' /- BEDK" /%+F0
-MF6 ( 4 &-+"*' N ' J % 4C" *4#*- &-R&6 (M+3- *-'3M6 /. /% (4 G&- -&> ; H2B #"%/"53% 2 " &'*" -7' /- 0 S *%+ -&> #9 : /"
B+ &6=% 3 S ( ')( S /% @ -O4#/ 'XF+*30 -' + /-O" F'**4#*- 9 3%+4 -39 > 2
: &% H2 F6?6* %* '3/- 93% - . "/+ > - 3%&' &-V&6 (*Q6* %+* G(&%+9P0 > : #'3/%+" >&+39 &""7%+ &')( 1"%/4 - . &"7"%+ F')( ( V"%/> *4O0
. /% (4 6/%I6 /-^9A*O- 4C ')( ( : &6 ( 4C&-^"53%6/%48&-7'*
V(7
U"*% -7*- P@ 3 /- S ( (3% C"*%e6/%+4C&-'3 # ' 3- +2 . AK9 U> *9 &"" '* /- i - "&% ' F% - 4#4C&% X /- 2 *4#*O
0 V(1 : *%+ ; : /- F6 ( 2 *4 "%**- 39 - `(&" *% . : 3!&-&99 /- '*/- N %+4C /- ( *- 3-'*Q6 /"%K9 '** . AK9M%* *0
H- (-ED ')(&" *% iKS 6A' /-#/%+93% - .$. *-3% *9I*- 3-'*3 - $$ 4#48&% 2 0
+<E$0!;Q!#&-
!#%3UV!'!#&%+ q X%VlL%+$10
&
760SrD0A6$>lj!)E!)Bk76C&C$+0
+A
P&A!V&%+e8
T
u
]
! #" $% %
& ' )(+* , & - & - - .$/01
32+46587:98;67=<?>A@CB8DFEG5IHJ9K4L7M; iKN 7POQ7MD6ER;6>TSU7ROVHXW+7=4L58@?OZY[@J;F\J7M287R;LH]46>A@C2^@JY_D6B8WZW`H];bacDb7M2d4L7R28EM7RDMe
58>TDfEG5IH]9Q4L7R;g>A2d<J7MDb46>A\dHh4L7MDfW+7=4L58@?O8DXY[@C;i@C;6O87R;6>T28\j\J7M287R;LH]467MOkDb7M2d4L7R28EM7RDc>A2d4L@lHjEM@J587M;b7M2d4
4L7nm?4 e
po
q $ 287X>ADbD6B87r465IH]4:5IHJD:;b7MEM7R>T<J7MOlsT>T4b4LsA7PH]4b4L7M2d46>A@C2t>A2uWgB8sT46> OQ@KERB8W+7R2d4vD6BQW+W+HJ;6> wH]46>A@C2`>ADv58@ N
4L@`@C;6\dH]28> R7f4L5Q7cD67MsT7ME=4L7MOx>T2QY[@C;6W+H]46>A@C2tD6@V465IH]4r46587y@CBK4L98BQ4rD6B8WZW`H];baz>ADrER@C587R;67M2d4Me 28ER7
HJsTs{46587|;67RsA7R<]HJ2d4:98>T7MER7MD@JY}>A2KY[@C;6W+H]4L>T@C2`58Hp<J7XSU7R7M2tD67RsA7ME=4L7ROlHJER;6@CDbDv4L587|>T2898BQ4vO8@KERB8WZ7M2d4LD i
4L5Q7~DbB8WZW`HJ;b> R7M;u5IHJDt4L@#O87REM>TO87>T2 N 58>AEG5 @C;6OQ7M;t4L@#98;67RD67R24j4L587RW D6@#4L5IHh4z46587 N 58@CsT7
4L7nm?4cW`H J7MDgD67M2QD67Je 32D6>T28\CsT7+O8@?EMBQW+7R24yD6B8WZW`H];6> MH]4L>T@C2 i @C287V9{@CDbD6>ASQsA7`@J;6O87R;6>A2Q\l@JY:4L5Q7
7=m?46;LHJE=4L7MOc>T2QY[@C;bW`H]46>A@C2X>TD€98;b@<?>TO87MOySdai4L587‚>A289QBQ4ƒO8@?EMBQW+7R24€>T46D67Ms„Y…e€†‡@ N 7=<C7M; i? >T28\ i T B
-)"
N'!#&L-)2'!)BS6<+/0‰ˆ
!#&&-
% q„Š !&n7-!`Dg %'!6!6.D!+'6 T
ŒR
‹ 7VlL+GD r
Q
]]^
T
@CS8Db7M;Œ<C7MO#4L58H]4 i >T2kD6>T28\CsT7`O8@?EMB8WZ7M2d4cDbB8WZW`HJ;b>A7RD N ;6>„46467M2kSdak9Q;6@JY[7RD6D6>T@C2IHJs‚D6B8WZW+HJ;6> M7M;bD i
7=m?46;LHJE=4L7MO D67M2d467M28ER7MDuO8@28@J4`HJs N HwaKD+;67=4GHJ>T2$46587M>T;+98;b7MER7MO87R28EM7 @J;6O87R;6D`>T2$46587lDbB8WZW`HJ;ŒaCe
j@C;b7M@p<C7R; i >A2k4L5Q7zEMHJD67t@JYPWyB8s„4L>T98sA7Z>A289QBQ4^O8@?EMB8WZ7M2d4LD i 4658>ADcOQ@K7RDZ2Q@J4^98;6@p<?>AOQ7tHxBQD67RY[BQs
D6@JsABQ46>A@C2 >T2QY[@C;bW`H]46>A@C2XW+HwafS{7 OQ;LH N 2gY[;6@JWOQ> p 7M;67R2d4ƒO8@?EMB8WZ7M2d46D%HJ28Og46587M;b7RY[@C;b7 i 2Q@rD6>T28\CsA7
O8@?EMB8WZ7M2d4ZEwH]2$9Q;6@p<?>AO87zHJ2#@C;bO87M;b>A28\8e BQ;b4L5Q7M;6WZ@C;b7 i 4L587u@C;bO87M;^S{7R4 N 7M7R2 4 N @98>T7MER7MD^@JY
>A2KY[@C;6W+H]4L>T@C2`EMHJ2zEG5IHJ28\C7iD6>T\C28> EwHJ2d46sTaZY[;6@CW @J287|O8@?EMB8WZ7M2d4:4L@ZHJ28@]4L587R;Me
32+4L58>TD EG5IHJ9K4L7M; iKN 7r98;b@<?>TO87 HfEM@C;b98B8D S8HJD67ROuW+7=4L58@?O8@CsT@C\JayY[@C;FDb46B8OQa?>A2Q\y@C;6OQ7M;6>T28\8e
B8; \J@dHJs N HJDr46@VO87=<C7MsT@C9xH`\C@?@?O @C;6OQ7M;6>T28\VDŒ4L;LHh4L7M\]al>T2j4L5Q7yEM@C2d467=m?4X@JY‰WyB8s„4L> O8@?EMB8WZ7M2d4
D6BQW+W+HJ;6> wH]46>A@C2 4LHJ;6\J7R4L7ROY[@C;|46587+2Q7 N Dy\C7R28;67]e 587 ;6DŒ4 B87RDb4L>T@C2 N 7`H]O8O8;67RD6Db7MO>ADX4L5Q7
>AWZ9{@C;b4LHJ28EM7+@JYP@C;6O87R;6>T28\8e 7uER@C28O8B8E=4L7RO 7=mK9{7M;b>AWZ7M2d4LD N 58>TEG5 Db58@ N 465IH]4^@C;bO87M;b>A28\ Db>A\
28> EwHJ2d46sTa~H p 7ME=4LDg46587`;b7wHJO87R; DyEM@JW+98;b7M587R28D6>T@C2k@JYHz4L7nm?4we B8;f7=mK9{7M;6>TW+7R2d4LDyH]sAD6@jD658@ N
4L58H]4PHJsT4658@CB8\C5u46587M;b7f>TD‡2Q@+Db>A28\CsT7X>AO87MHJs)@C;bO87M;b>A28\Z@JYƒ>T2QY[@C;bW`H]46>A@C2 i @C;bO87M;b>A28\Z>AD:28@]4 H]2jB82
EM@J28Db46;LHJ>T287MO 98;b@CS8sT7MW _4L587g2?BQWySU7R;|@JYF\C@?@KOj@C;6O87R;6>T28\CD Y[@C;rHV\C>T<J7M2 4L7nm?4|>ADrsT>AWZ>T467MO)e 587
D67REM@C2QO B87RDb46>A@C2$HJO8OQ;67MDbD67RO N HJDy4L5Q7uHJ2IHJs„a?D6>ADyHJ28OB8Db7u@JY:OIH]4LHl4L@ >A2KY[7M;yH DŒ4L;6H]4L7R\JaY[@J;
@C;bO87M;b>A28\8e €mK>ADŒ4L>T28\^EM@C;b98B8D:SIHJDb7MOlWZ7R4658@?O8D i DbB8EG5 HJDDbB89{7M;b<?>TD67MOlsA7wH];628>T28\ i H];67|28@J4‡7MHJD6>TsTa
HJ989QsA>AEMHJS8sT7r4L@Z@CB8;‡98;6@CSQsA7MW>A2z9IHJ;b4PS{7MEwH]B8D67f@JYƒsAHJE u@JYƒ46;LHJ>T28>A28\cO8H]4GHQe X>„<C7M2z4L5IHh4‡46587M;b7
HJ;b7|WyB8sT46>A98sT7P9{@CDbD6>ASQsA7r@C;bO87M;b>A28\JD i HcER@C;698BQD98;6@p<?>AO8>T28\c@C287|@J;6O87R;6>A2Q\yY[@C;v7wH]EG5zDb7R4‡@JY}>A2KY[@C;
W+H]4L>T@C2+OQ@K7RD 28@J4vHJsAsT@ N B8D‚46@yO8> p 7R;67M2d46> H]467PS{7R4 N 7M7R2zDb7M2d4L7R28EM7RD N 58>AEG5uWyBQDb4vS{7 >T2VHg\J>T<C7R2
@C;bO87M;fHJ28O~D67R2467M28ER7MD N 58>TEG55IH]989U7R246@jS{7Z46@C\C7=4L587R;Me 58>TDfsT7MO~B8DX4L@zO87R<J7MsA@J9HzER@C;69QB8D
@JY‡OIH]4LHlD67=4LD i 7MHJEG5#@JY N 58>AEG5#ER@C2d4GHJ>T28DyWyB8s„4L>T98sA7+HJEMER7M9Q4LHJS8sT7V@C;6OQ7M;6>T28\CDy@]Y‡H D6>A2Q\CsA7Z4L7=m?4Me
B8EG5jHcEM@C;b98B8D‡>ADv7nmK9U7R28D6>„<C7f46@cEM@C2QDb4L;bB8ER4 HJ28Ou46587M;b7RY[@C;b7 i O8@?7MD:28@J4:9Q;6@p<?>AO87X7M2Q@CB8\C5tOIH]4LH
Y[@C;i98B8;b7`Db4LH]4L>TDb46>AEwH]s‚H]9898;6@CHJEG587MDRe 328DŒ4L7MHJO iƒN 7`B8Db7MO#Hl5da?S8;6>TOkEM@J;698B8DgHJ2IHJs„a?D6>ADiDb46;LH]467M\Ja
4L58H]4 ;6Db4HJBQ4L@JW`H]46>AEMHJsAs„ag>TO87M2d4L> 7MDFEM@JW+WZ@C2IHJsT>T46>A7MD‰H]EM;6@JD6D @J;6O87R;6>A2Q\CDMe jHJ2BIHJsUHJ2IHJs„aKDb>ADF@JY
4L5Q7f;b7MD6BQsT4L>T28\ZEMsABQDb4L7R;6D‡sA7ROj4L@^4L5Q7f>TO87M2d4L> EwHh4L>A@J2z@]Y%EM@C2QDb4L;6HJ>A2d46DP@C2z@C;bO87M;b>A28\8e >A2IH]sAsTa iKN 7
Q
#
Q
P
E
P
T T
7R<]HJsTBIH]467MOt98s H]B8D6>TS8sA7r@J;6O87R;6>A2Q\ZDŒ4L;6H]4L7R\C>A7RD‡SdatH]D>A28\^5B8W+HJ28D4L@bB8O8\J7r4L587X;67RD6B8s„4LDRe
B8;‰Db7R4F@JY)7nmK9U7R;6>AWZ7M2d46D‰46@C\C7=4L587R;FDbB8\C\C7RDb46D HJ2^@C;bO87M;b>A28\iHJsT\C@C;b>T4L5QW 465IH]4F>A2d467M\C;6H]4L7RD
EM@J28Db46;LHJ>T246DFY[;b@CW HJ2`HJ9898;b@pmK>TW`H]46>A@C2^@JY_4L587:4L7RW+9{@C;LH]sID67 B87R28EM7|@]Y)4L587‡B828OQ7M;6s„a?>A28\f7R<C7R2d4LD
HJ28O ;b7Ms Hh4L7MOQ287MDbDjS{7R4 N 7M7R2 EM@J2467M2d4z7MsT7MWZ7M2d4LDRe BQ;u7R<]HJsAB8H]4L>T@C2 @JYi98s H]B8D6>TS8sA7 DŒ4L;6H]4L7R\C>A7RD
WZ7wHJDbB8;67RD‚4L5Q7PB8Db7RY[B8sT287MDbDv@JY H 58;6@J28@CsA@J\C>AEMHJs ;6O87R;6>T28\gH]sA\C@C;b>T4658WB8Db7MOu>T2+98;b7R<?>A@JB8D DbB8W
W+HJ;6> wH]46>A@C2Dba?Db467MWZD ? jE 7M@ N 2$7R4ZHJs e i T >T2$HJ28O$†P@p<a i u T B HJD N 7MsAs:H]D^HJ2$HJs
4L7R;62IHh4L>T<J7 i @C;6>T\C>A2IH]s€Db46;LH]467M\Ja i lH b@C;6>„43a ;6O87R;6>A2Q\8e B8;i7R<]HJsTBIH]4L>T@C2xD658@ N Di4L5IH]4X46587Z4 N @
@C;bO87M;b>A28\jHJsA\J@C;6>„4L58WZD|HJsT@C287^O8@l2Q@J4XaK>T7MsTOD6H]4L>TDbY HJE=4L@C;Œax;67MDbB8sT46DMe 5Q7 ;bDb4 i lH b@C;b>T43a ;
O87R;6>A2Q\ i >TDvEM;b>T4L>TEwHJsTsTacsT>A2 ]7MOV46@y4L587|sT7R<C7Rs)@JY Db>AWZ>As H];6>T43ay@JY}>A2QY[@C;bW`Hh4L>A@J2+@C;bO87M;b>A28\^H]EM;6@JD6Dv4L5Q7
>A2Q98BQ4‡4L7=m?46DMe 5Q7M2 >T2898BQ4‡4L7nmK46Dr5IHw<C7gO8> p 7M;b7M2d4r@C;bO87M;b>A28\JD i 58@ N 7=<C7M; i 4L5Q7yHJsT\C@C;6>„4L58W98;6@
O8B8ER7MDfB82898;b7MO8>TER4GH]S8sA7ZHJ28O~B82IH]EMEM7R9Q4GH]S8sA7Z;67RD6B8s„4LDMe 587+Db7MER@C28O i 58;6@C2Q@CsA@C\J>AEwH]s ;6O87R;6>A2Q\
98;b@KO8BQEM7MDP\C@?@KOt;67RD6B8s„4LD N 587M2j4L587i>A2QY[@J;6W+H]4L>T@C2V>AD‡7R<J7M2d4 SIHJDb7MO i HJ28Oj46587M;b7RY[@C;b7 i >AD467MWZ9U@
;LH]sAsTayD67 B87R28EM7RO)e 5Q7M2V4L7nm?4LDvO8@c2Q@J4v;b7RY[7M;F4L@y7=<C7R246D i S8BK4vO87RD6EM;b>AS{7rDb4LH]4L7RDv@C;‚98;6@C9{7M;Œ4L>T7MD i
4L5Q>AD:HJsT\C@C;6>„4L58W Y HJsTsAD Db58@C;Œ4we
B8;fHJBQ46@CW+H]4L>TE+H]2IHJsTa?Db>ADX;67=<C7wH]sADf465IH]4X4L@J98>AEMHJs‰;67MsAH]4L7RO8287RD6Dg>TDiHJ2>TW+9{@C;b4LHJ2d4XEM@C2
Db46;LHJ>T2d4 ?\C;6@CBQ98D‚@]Y ;67Rs H]467MOZD67M2d467M28ER7MDv4L7R28O+46@yHJ9Q9U7MHJ;F46@C\C7=4L587R;Me B8;‚HJsA\J@C;6>„4L58W
EM@CWySQ>A287RD
58;b@C28@CsT@C\C>AEMHJs ;6O87R;6>T28\ N >„4L5 ER@C28Db46;LHJ>T2d4LDPY[;b@CW 4L@C9Q>AEwH]s};b7MsAH]4L7RO8287MDbDMe ƒ<]HJsTBIH]4L>T@C2zD658@ N D
4L58H]4|4L587^H]B8\CWZ7M2d4L7ROH]sA\C@C;b>T4658W D6>A\J28> EMHJ2d4Ls„al@CBK4L9{7M;bY[@J;6WZDr7M>„4L587R;|@JY‰4L587cDb>AWZ98sA7R;rW+7=4L5
@?O8DyHJsT@C287]e 5Q>ADgDŒ4L;6H]4L7R\JaEMHJ2kS{7`EG5IH];LHJE=4L7M;b> R7MO#HJDfSU@J4b4L@CW BQ9Db>A28ER7 2IH]s‚@C;bO87M;b>A28\j@JY
4L5Q7l4L7nmK4V7MWZ7M;6\J7MDVY[;6@JW 5Q@ N 46587 OIH]4LHk\C;6@JB898D`46@C\C7R46587M; iN 587R46587M;uSda ;67MsAH]4L7RO EM@C2d467M2d4
@C;|Sda EG58;b@C28@CsT@C\C>TEwHJsD67 B87R28EM7]e 5Q>AD|EM@J246;LHJDŒ4LD N >T465 4L@C9 O8@ N 2xDb4L;6H]4L7R\C>A7RDXO87R<J7MsA@J9U7RO>T2
4L;6HJO8>„4L>A@J2IHJs%\C7R287M;6H]4L>T@C2kD6BQEG5 HJD ? j@?@C;67uH]28O €HJ;b>AD i T ‚†‡@p<?a i T Bti D6EG5Q7MW+HJD
? zE 7M@ N 2 i T B @C;9Qs HJ28D ? |HJsT7 i T u B%N 58>AEG5t>AWZ9{@CD67|H]2z7nm?4L7M;b2IHJs i ;6587=4L@C;b>AEMHJsAs„a^W+@J46>
<]H]4L7ROj@J;6O87R;6>A2Q\Z@J2t46587XOIH]4LHQe
P
Q
]]]
P
P
]^
]]
J
]]
]]
T
u
32t4L5Q7XY[@JsAsA@ N >T28\yD67RER46>A@C28D i8N 7 ;bDb4‡D658@ N 465IH]446587 N Hwat>A2KY[@C;6W+H]4L>T@C2`>TD@C;6OQ7M;67ROl>T2
HjDbB8WZW`HJ;ŒaxEwHJ2EM;6>„4L>TEwHJsTsTalH p 7RER4g>T4LDi@p<C7R;LHJsTs BIH]sA>T43aJe 7Z287=m?4cOQ7MD6ER;6>TSU7Z4L587Z4 N @ 28HJ>T<J7
@C;bO87M;b>A28\HJsA\C@J;6>T4658WZD^HJ28O 7=<JH]sABIH]467z46587MW i Y[@CsTsA@ N 7RO Sda HDb46B8OQa @JY|WyB8s„4L>T98sA7u@C;bO87M;b>A28\JD
98;b@KO8BQEM7MO~Sda 5B8W+HJ28DMe 58>TDXHJsAsT@ N D|B8D|4L@tO87R467M;bW+>T287c58@ N 46@z>TW+9Q;6@p<C7y46587 58;6@J28@CsA@J\C>
EwH]s ;6O87R;6>A2Q\tHJsA\C@J;6>T4658W B8D6>T28\uEM@J587MDb>A@C2~HJDXHJ2~HJOQO8>T46>A@C2IH]sER@C28Db46;LHJ>T2d4we 5Q7ZsAHJDb4rD67ME=4L>T@C2
O87RD6EM;b>AS{7MD:4L587iHJBQ\CW+7R2d4L7MOjHJsT\C@C;6>„4L58W HJsT@C28\ N >„4L5t>T46D7R<]HJsAB8H]4L>T@C2)e
P
_
q
$ ƒ<C7R2V4L58@CBQ\C5Z46587
Q9 ;6@CS8sT7MW1@JY_@C;6OQ7M;6>T28\i>A2QY[@C;bW`Hh4L>A@J2yY[@C;‰WyB8sT46> O8@KERB8WZ7M2d4‰D6B8WZW+HJ;6> wH]46>A@C2
5IHJDX;b7MEM7R>T<J7MO;b7MsAH]4L>„<C7Ms„a sT>T4646sA7cHh464L7R2d4L>A@J2 i)N 7Z5da?9U@J46587MDb> R7Z465IH]4i\C@?@KOx@C;bO87M;b>A28\t>AD|ER;6B8ER> HJs
4L@u9Q;6@?O8B8EM7gD6B8WZW`H];6>A7RD @JY BIH]sA>T43aJe 587cEM@J28D67R28D6B8DiHJ;bEG58>T467ME=4LB8;b7c@JY%4L587gDb4GHh4L7c@JY%46587cHJ;Œ4
D6BQW+W+HJ;6> M7R;6DƒER@C28D6>TDb46DF@]Y)H|EM@J2467M2d4FD67RsA7ME=4L>T@C2^W+@?O8B8sT7v>A2 N 58>TEG5Z46587DLH]sA>A7R2d4%>A2QY[@J;6W+H]4L>T@C2g>TD
7=m?46;LHJE=4L7MOjHJ28OtHc;b7M\C7R287M;6H]4L>T@C2uW+@?O8B8sT7 >T2 N 58>AEG5u4L5Q7|>A2QY[@C;bW`Hh4L>A@J2+>TDv;67=Y[@C;6WyBQs H]467MOV>T246@^H
IB87R2d4ƒ4L7nmK4Me 3O87MHJsAs„a i 4L587‚;67M\J7M287R;LH]46>A@C2yER@CWZ9U@C2Q7M2d4ƒER@C2d4GHJ>T28D€O87=<?>AEM7RD€4L58H]4€9{7M;ŒY[@C;6W DbB8;bY HJER7
;67R9IHJ>T;6Dy@C2k46587V4L7nm?4^SakO8@C>A2Q\ HJ2IHJ9Q58@C;LH ;b7MDb@CsABQ46>A@C2 i >A2d4L;b@KO8BQEM>A2Q\ EM@C5Q7MD6>T@C2W+HJ; ]7M;6Dc@J;
EG58@?@CD6>T28\u4L587+HJ989Q;6@C98;b> H]467csA7nmQ>TEwHJs€9IHJ;LH]9858;LH]D67MDRe B8;XERs HJ>TW>A2 4658>ADXEG5IHJ9K4L7M;X>TDX465IH]4X4L5Q7
WyB8s„4L> O8@?EMB8WZ7M2d4€D6B8WZW`H];6> MH]4L>T@C2yH];6EG58>„4L7ME=4LB8;b7:287M7RO8DFHJ2^7=mK98sA>TEM>„4%@C;6OQ7M;6>T28\|EM@JW+9{@C287R24Me Y
4 N @l98>T7MEM7RDf@]Yv>A2KY[@C;6W+H]4L>T@C2 7nmK46;LHJE=4L7ROSda 4L587ZEM@J2467M2d4fD67MsT7ME=4L>A@J29858HJD67Z7M28OB8946@C\C7=4L587R;
S8BQ4gD658@JB8sAO28@J4 i >A2xY HJER4 i S{7+2Q7=m?4c@C287^4L@lHJ28@J46587M; i DbB8;bY HJER7`O87=<?>AEM7RD N >AsTs%28@J4f;67R9IHJ>A;X4L5Q7
>AWZ9IHJ>T;67RO I@ N @JY >T2QY[@C;bW`H]46>A@C2^>T2+4L5Q7 D6BQW+W+HJ;baJe r 2u@J;6O87R;6>A2Q\gDb46;LH]467M\Ja N @CB8sTOV587MsT9uHw<C@C>TO
4L5Q>ADD6>„4LBIHh4L>A@J2)e
4P>ADERsA7MHJ;4L5IH]4‡@C;bO87M;b>A28\^EMHJ2828@J4P>AWZ98;b@<J7|4L587X@CBQ4698BQ4P@JY7wHJ;bsA>A7R;Db4LHJ\C7MD‡@JYƒHZDbB8W
Q
P
Q
T
W+HJ;6> M7M; i HJW+@J28\f46587MW EM@C2d467M2d4:D67RsA7ME=4L>T@C2 K58@ N 7=<C7M; i 28O8>T28\cHJ2VHJEMER7M9Q4LHJS8sA7P@C;6OQ7M;6>T28\yEMHJ2
7M2Q5IHJ28ER7VB8D67R;gER@CW+9Q;67M5Q7M28Db>A@C2@JYv4L5Q7+DbB8W+W+HJ;Œa~HJ28O i 4L587R;67RY[@J;67 i >T46Df@p<C7R;LHJsTs B8HJsA>„43aCe Y
EM@JB8;6Db7 i D6BQ;bY HJER7VO87R<?>TEM7MD^H];67`DŒ4L>TsAs‰287M7RO87MO46@lD6WZ@?@J4L546587`@JBQ4L98BK4cD6B8WZW+HJ;ba i S8BQ4g4L58>TDf>TD
S{7RaC@J28O 4L587fD6ER@C9U7g@JY%@CB8; N @C; ? S8BK4rD67R7 ? EG58> p W`H]2 i P7M2 J@p<]H i HJ28O jE 7M@ N 2 i u u BDB e
32l4658>ADPD67ME=4L>T@C2 N 7yD658@ N 4L58H]4P46587 BIHJsT>T43at@JYƒ@C;6O87R;6>T28\`5IH]D|H+O8>T;67RER4r7 p 7RER4|@J2lB8Db7M;rER@CW
98;b7M587R28D6>T@C2 @JY%4L5Q7gD6BQW+W+HJ;baJe }@`<C7R;6>„Y al@CBQ; 5da?9U@J46587MDb>AD i_N 7g9U7R;bY[@C;bW+7RO HJ2 7nmQ9{7M;b>AWZ7M2d4 i
WZ7wHJDbB8;6>T28\c4L587X>AWZ9IHJE=4@JY@C;6OQ7M;6>T28\^@C2u4L587XB8Db7M; D‡EM@CWZ98;b7M587R28D6>T@C2j@]Y€DbB8W+W+HJ;b>A7MDRe
7XD67RsA7ME=4L7ROz467M2tD6B8WZW+HJ;6>T7MDv98;b@KOQB8EM7ROjSdaV46587 @CsABQWyS8> H B8WZW`HJ;b> MH]4L>T@C2`DŒaKDŒ4L7RW
? zE 7M@ N 2V7=4vHJs e i u TpH B e 4‚>AD‰EM@JW+9{@CD67RO+@]Y HX;6@CBQ467M;‚HJ28OZ4 N @fB828O87R;6sTa?>T28\fDbB8WZW`HJ;b> R7M;6D
jBQsT4L> X7R2uHJ28O
e r7M9{7M28O8>T28\y@C2u46587r43a?9U7|@JY}>T2898BQ4:H];b4L>TEMsT7MD‚46@cSU7|DbB8WZW`HJ;b> R7MO i
4L5Q7z;b@CBQ467M;^D67RsA7ME=4LD^4L587zHJ9Q98;6@C9Q;6> Hh4L7uD6BQW+W+HJ;6> M7R;Me 7z7=<]HJsABIHh4L7MO#4L5Q>ADcDba?DŒ4L7MW4658;6@CBQ\C5
4L5Q7 r@?EMB8WZ7M2d4 ‡28O87R;6Db4LHJ28O8>T28\ @C2KY[7M;67R28EMQ7 u T ? B v7R<]HJsTBIH]4L>T@C2 idN 587R;67rDbB8W+W+HJ;b>A7MD
98;b@KO8BQEM7MO Sda D67R<J7M;6HJsrDba?DŒ4L7MWZD N 7M;67 \J;LHJO87RO Sda 5B8W+HJ2 bB8OQ\C7MDtHJEREM@C;bO8>A2Q\4L@kOQ> p 7M;67R2d4
EM;b>T467M;6>AH i HJW+@J28\g4L5Q7MW 58@ N N 7MsTsU4L5Q7|>A2QY[@C;bW`Hh4L>A@J2ZER@C2d4GHJ>T287MOt>T2`4L587 D6B8WZW`H];ba+>AD @J;6O87R;67MO_e
}@ H]ER4LB8HJsAs„a >TO87M2d4L>„Y a H9{@CD6Db>AS8sT7 >AWZ9IHJE=4u@JYi@C;bO87M;b>A28\@C2 ER@CW+9Q;67M5Q7M28Db>A@C2 i‡N 7xDb7MsA7RER467MO
@C28s„a#D6B8WZW+HJ;6>T7MD N 587M;b7 5B8W`H]28D bB8OQ\C7MO 46587l@J;6O87R;6>A2Q\kHJD+9U@?@C;Me @C;Z7wHJEG5 DbB8WZW`HJ;Œa i
N 7ZW+HJ2BIHJsTsTaj;67R@C;6O87R;67RO~46587^D67M2d467M28ER7MDg\J7M287R;LH]467MO~Sa 46587cD6BQW+W+HJ;6> M7R; i B8Db>A28\u4L5Q7c>A2898BK4
HJ;Œ4L>AERsA7RD+H]D`H~;67RY[7R;67R28EM7]e 5Q7M2 OQ@C>A28\~D6@ i N 7jO8>AO$28@J4+EG5IHJ2Q\C7j46587jER@C2d4L7R24 H]sAsv4L5Q7
D67R2d4L7M2QEM7MD%>T2f46587 ;b7M@C;bO87M;b7MOyDbB8W+W+HJ;b>A7MD N 7M;67‚4L587‚DLHJWZ7‚@J287MD€HJD€>T2i46587 @C;b>A\C>T2IHJsTsTaP98;6@?O8B8ER7MO
D6BQW+W+HJ;6>T7MDRe 58>AD 98;6@?EM7RD6Dva?>A7RsAO8D 467M2tHJOQO8>T46>A@C2IH]s{;b7M@C;bO87M;b7MOtD6BQW+W+HJ;6>T7MD HJ28OV4L5B8D i @p<C7M;6HJsAs
@CB8;ER@CsAsT7ME=4L>A@J2uEM@C2d4GH]>A28D4 N 7M2d43azD6B8WZW`H];6>A7RDMe
Q
P
K
P
0
@
Q
Q
F Q%+X0Q!V0+/-)L!6676HL67&76H+'
R0
+0+I")B7S
P0+/-)A7BX&S6.8
"!$#&%$
$#'($)*,+,-*)&
)B7S
P&S6T)&!&%7) lj00,6'
S6W2,/0.0/2143M)&)0=8>KM6-6+65 R)&%7
>!#+,W)&!&
06'
S62,71986:;<=?>H
@ 2AS
!#A)B E%%+I&S6 N67&%+$!#%$&&' !# &4&%8A.?/B1C3+Q&'
#0'!+'6.DV'!61+ )&*7
@A
hN60%+$4)B&N!V&7$>%7+076C!#+'6R0,')&VU,-676RA)5lL&3&!#'&0%!#&
,A16!#0!'8
T
vN @yDbB8S b7ME=4LD‚@J4L587R;F465IHJ2^4L587‡7=mK9{7M;b>AWZ7M2d4F@C;6\dH]28> R7M;6D‰9IH];b4L>TEM>T9IH]4L7RO^>A2c4L58>TD‰7=mK9U7R;6>
WZ7M2d4we ‰HJEG5+D6B8WZW+HJ;ba N HJDF;67MHJO+SdaZ@C287:9IH];b4L>TEM>T9IHJ2d4 N >T4658@CBQ4F5IHw<?>A28\fHJEREM7MDbD‚46@i46587:>A2898BK4
HJ;Œ4L>AERsA7RDMe 7iO8>ADŒ4L;b>AS8BQ467MOt4L587iD6BQW+W+HJ;6>T7MD‡HJWZ@C28\c4L5Q7 bB8OQ\C7MD‡D6@Z4L5IH]4‡28@J287f@]Y€4L5Q7MW ;67MHJO
S{@J4L5`HJ2V@C;b>A\C>T2IHJsID6BQW+W+HJ;baZH]28O`>„4LD ;b7M@C;bO87M;b>A28\Qe 587Ra N 7M;67rHJD ]7MOV4L@f\C;LH]O87 58@ N N 7MsAs 4L5Q7
D6BQW+W+HJ;ba$ER@CB8sAO SU7 BQ28O87M;bDb46@K@?O :B8D6>T28\46587 ;LHh4L>A2Q\CD 32QEM@CWZ98;67R587M2QD6>ASQsA7 @CWZ7 N 5IHh4
EM@JW+98;b7M587R28D6>TS8sA7 ^@C; @CWZ98;67R587M2QD6>ASQsA7 Qe
5Q7Z;b7MDbB8sT46D HJ;67cDb58@ N 2>T2 >A\CBQ;67 Ke TCe 7R<J7M2@J;6>A\J>A2IHJs DbB8W+W+HJ;b>A7MD N 7R;67^EM@C2QD6>AO
7M;b7MO >T28EM@JW+98;b7M587R28D6>TS8sA7iSdat4L587R>A; bB8O8\C7 {4 N @ N 7M;67gD6@CWZ7 N 5IHh4 ER@CW+9Q;67M5Q7M28Db>AS8sT7 UHJ28Ol@J28sTa
@C287f@C;6>T\C>A28HJs D6B8WZW+HJ;ba N HJD Y[B8sTsTatER@CW+9Q;67M5Q7M28Db>AS8sT7Je 587y;67R@C;6OQ7M;67RO D6B8WZW+HJ;6>T7MD:@CSQ4LHJ>A287RO
S{7R46467M;\C;LHJOQ7MD€@p<J7M;LH]sAs <C7vDbB8W+W+HJ;b>A7MD N 7M;b7 Y[B8sAs„a|EM@JW+98;b7M587R28D6>TS8sA7 ]4 N @ N 7M;67 D6@CWZ7 N 5IHh4
EM@JW+98;b7M587R28D6>TS8sA7 N 5Q>AsA7:4L5Q;67M7 ;67MW+HJ>T287MO+>A28ER@CW+9Q;67M5Q7M28Db>AS8sT7Je @cHJDbD67RD6Dv4L5Q7 Db4LH]4L>TDb46>AEwH]s{Db>A\
28> EwHJ2QEM7^@JY‚@CB8;|;67RD6B8s„4LD N 7ZHJ9898sT>A7RO 4L587 >TD6587R;|7=mQHJER4X467MDb4X46@u@CB8;XOIH]4LHVD67R4 ER@C2 Hh4L>A2Q\
328ER@CWZ98;67R587M28Db>AS8sT7 ~HJ28O @CW+7 N 5IH]4^ER@CW+9Q;67M5Q7M28Db>AS8sT7 xD6B8WZW+HJ;6>T7MDy>T246@ @C287tEwHh4L7M\J@C;ba
4L@t@CSK4GHJ>T2H m `4GHJSQsA7Je 58>TDr4L7RDb4f>ADXHJOIH]9Q4L7RO~46@j@CBQ;|EwHJDb7+S{7MEMHJB8D67Z@JYF4L587^;b7MO8B8ER7MOkDb> R7
@JY @CB8;XOIH]4LHjD67=4we 7^@CSQ4LHJ>A287ROHz9 <]HJsTB87c@JY Qe ? >A7R\C7MsFHJ28O vHJDŒ4L7MsTs HJ2 "T B N 5Q>AEG5
WZ7wHJ28DX4L58H]4y>„Yv;67R@C;6OQ7M;6>T28\l>TDf2Q@J4 >A2\J7M287R;LHJs 587RsA9QY[BQs 46587M;b7`>TDf@C2QsTa~H EG5IHJ28ER7`4L5IHh4
O8@C>T28\x;67R@C;6O87R;6>T28\H]2a N Hwa N @CB8sTO 9Q;6@?O8B8EM7jHx;67MDbB8sT4^4658>AD^O8> _7R;67M2d4+>A2 BIHJsT>T43akY[;b@CW 4L5Q7
@C;b>A\C>T2IHJsƒ@C;bO87M;b>A28\Qe 58>ADi7=mK9{7M;6>TW+7R2d4y>A2QO8>AEMH]4L7RDX465IH]4gHj\C@?@?O@C;bO87M;b>A28\zEwHJ2>AWZ98;6@p<C7^4L5Q7
@p<C7R;LHJsTs EM@CWZ98;67R587M2QD6>ASQ>AsA>„43a`@]YƒHcD6BQW+W+HJ;baJe
32#4L5Q7zEMHJD67t@JYPD6@JW+7usT@ N D6ER@C;6>T28\ D6B8WZW+HJ;6>T7MD ‰>„4c>ADcERsA7wH];g4L5IHh4+9{@?@C;y@C;bO87M;b>A28\ >TD
4L5Q7jsT> J7RsTaERB8sA9Q;6>T4Me @C;^>A28DŒ4GHJ2QEM7 ;b7wHJOQ7M;6D+EwHJ2 7wHJDb>As„a>AO87R2d4L>TY a465IH]4+\C;6@JB898>A2Q\~46587z4 N @
Y[@CsTsA@ N >A28\ZD67R2d4L7M2QEM7MDX>TDrHJ2 BQ28D6B8>„4GHJSQsA7gEG5Q@C>AER7cHJ28O ER@CB8sTO SU7gW+>TD6sA7MHJO8>T28\8e #
#
$
"!"!
%
'&
)(
243 / 65 2
# 1 387
#
-9- 5 / 5 3;:
#
5 2 /=</ < 1 7
7)&"+'!;S)L!#0401+'7)')&76H%+/0 /
#
2 1 >- 3 2438?
UV!#%'!V0+G8
*,+ -.- 0/
- 243 @/A-CB"DE/ ?F:
!
1
-
7 ?G 5 243
T
B8WZW`HJ;ŒaVDb7R4 b; >A\C>T2IHJs
:7M@C;bO87M;b7MO
OT
32QEM@CWZ98;67R587M2QD6>ASQsA7
328ER@CW+9Q;67M5Q7M28Db>AS8sT7
@CW+7 N 5IH]4‡EM@JW+98;b7M587R28D6>TS8sA7
OT
@CWZ98;67R587M2QD6>ASQsA7
O
32QEM@CWZ98;67R587M2QD6>ASQsA7
@CWZ98;67R587M2QD6>ASQsA7
@CW+7 N 5IH]4‡EM@JW+98;b7M587R28D6>TS8sA7
O 0T
@CWZ98;67R587M2QD6>ASQsA7
@CWZ7 N 58H]4‡EM@CWZ98;67R587M2QD6>ASQsA7
O
32QEM@CWZ98;67R587M2QD6>ASQsA7
O
32QEM@CWZ98;67R587M2QD6>ASQsA7
328ER@CW+9Q;67M5Q7M28Db>AS8sT7
O
32QEM@CWZ98;67R587M2QD6>ASQsA7
328ER@CW+9Q;67M5Q7M28Db>AS8sT7
O
32QEM@CWZ98;67R587M2QD6>ASQsA7
@CWZ98;67R587M2QD6>ASQsA7
@CWZ7 N 58H]4‡EM@CWZ98;67R587M2QD6>ASQsA7
O
32QEM@CWZ98;67R587M2QD6>ASQsA7
O @JW+98;b7M587R28D6>TS8sA7
@CWZ98;67R587M2QD6>ASQsA7
>A\JB8;67 Ke T !"#$ %&&'"()" *+(&",
0
4
4 4"
7 1
.52
3)- / 5/.$1 ? /10%2 3 0 3 5 #
. /10
243
# 33 1 3 # 1 <54$0 . / 3 5 2
?3 7 1 ? . / @/A- 3 1 7 7
0 . 3 / 5 3;: /
#
0/ 6
0 1 ?3 /
3 /A- 5. ? < 33 5/.$1 ? 243
#
#
:3 / 5 2
#
'
5 1 3.3 - / G 1
: 1 3 5 1 >- -/ . : # . : / +8
QB 4y>A2k@J46587M;gEwHJDb7MD N 587R2$>T2QY[@C;bW`H]46>A@C2~>A2kH D6B8WZW`H];ba~>ADy9{@?@C;6s„ax@C;6O87R;67RO H]28O;67MHJO87M;bD
EwH]2828@J4:W+H1:J7 D67M2QD67X@JY 4L587r467=m?4 N 7|@CS8Db7M;Œ<C7MOt4L5Q;6@CB8\J5z>T2d4L7M;Œ<?>A7 N D N >„4L5V46587|;67MHJO87M;bDv4L5IHh4
4L5Q7Ray467M28Oc4L@XS8sAHJWZ7 >T4ƒ@C2cEM@C2d467M2d4FD67MsT7ME=4L>A@J2Z;6H]4L5Q7M;ƒ4L58HJ2^@C2c@C;6OQ7M;6>T28\ C7=<C7R2`>TYI46587:EM@C2d467M2d4
>AD 28@J4r46587c>ADbD6B87]e 5B8D 46587c>ADbD6B87c@JYF@C;bO87M;b>A28\u>TDr28@J4r>AD6@Js H]467MO )>„4|EwH]2xH _7RER4|46587c@p<C7M;6HJsAs
BIHJsT>T43aV@]YƒHcD6BQW+W+HJ;baJe
32c46587vY[@CsAsT@ N >A28\PD67ME=4L>T@C2 N 7:O87MDbEM;6>TSU7OQ> U7M;67R2d4%Db46;LH]467M\C>T7MDƒY[@C;@C;6O87R;6>T28\r4L587@JBQ4L98BK4
D67R2d4L7M2QEM7MDP4L@^@CSQ4LHJ>A2tH BIHJsA>„43a`DbB8WZW`HJ;ŒaCe
9
&
(
&
(
a
<;
=?>5@BA
DCFEGAHCF@JIGK
L
JKMBCN@POQSR
TULVCAW=?MXOZY\[^]
_`@JAHI<O
85 7R2Z9Q;6@?O8B8EM>T28\|H DbB8WZW`HJ;Œa dH]2afWyB8s„4L> 3O8@?EMB8WZ7M2d4D6B8WZW+HJ;6> wH]46>A@C2iDba?Db467MW58HJD€4L@ EG58@K@
D67Z>A2 N 58>TEG5@C;bO87M;|46@j98;b7MDb7M2d4g46587^@CBQ4L9QBQ4iD67M2d467M28ER7MDMe 32~4L58>TDXD67ME=4L>T@C2 N 7+O87MDbEM;b>AS{7^4 N @
HJsT\C@C;6>„4L58WZDY[@C; @J;6O87R;6>A2Q\`D67R2d4L7M2QEM7MDiD6BQ>T4GH]S8sA7XY[@C; WgB8sT46> 3OQ@KERB8W+7R2d4PDbB8WZW`HJ;b> MH]4L>T@C2j>T2l4L5Q7
"
9
'
A
287 N D‡\J7M28;b7Je 587 ;bDb4‡HJsT\C@C;b>T4L5QW lHb@C;6>„43ar;6OQ7M;6>T28\
8;b7MsA>T7MD‚@C28sTa+@C2V46587r@C;b>A\C>T2IHJs
@C;bO87M;bDv@JY}D67R2467M28ER7MD‡>A2`46587r>T2898BQ4 O8@KERB8WZ7M2d4LDRe 5Q7|D67MER@C28Ot@C287 58;b@C28@CsT@C\C>AEMHJsr;6O87R;6>A2Q\
vB8D67RDz46>AWZ7 ;67MsAH]4L7RO Y[7wHh4LB8;b7MDV4L@#@C;bO87M;uDb7M2d4L7R28EM7RDMe
58>ADuDŒ4L;6H]4L7R\Ja N HJDt@C;6>T\C>A2IH]sAsTa
>AWZ98sT7MWZ7M2d4L7RO>A2 HJ28OkY[@JsAsA@ N 7MOSa@J46587M;fD6B8WZW`H];6> MH]4L>T@C2xDba?Db467MWZD ‡HJO87=<
>A2Q\ }HJ28O 9 B8O R> :J@ N +D :]H
! >T2~HJ28Ok†‡@p<?a
ne 32x4L5Q"
7 #$%$Y[;LHJWZ7 N @C+; :
@C;bO87M;b>A28\VDb7M2d4L7R28EM7RDf>TD 7 ?BQ>T<]HJsA7R2d4r4L@V@J;6O87R;6>A2Q\`4L587RW+7RD H]28O N 7cOQ7MD6ER;6>TSU7g46587^HJsT\C@C;6>„4L58WZD
>A2 467M;6WZDu@JYi4L587RW+7RDMe 58>TDtW`1H :]7MDuDb7M28Db7S{7MEwH]B8D67 rB8sT46>AW+H]4L7RsTa v4L587xD6BQW+W+HJ;ba N >AsTs S{7
EM@JW+9{@CD67RO @]YyH#D67 ?BQ7M28ER7k@JYfD67M2d467M28ER7MD i7wH]EG5 @C2Q7ER@C28Db46;6B8E=4L7RO Y[;6@JW 4L587x>T2QY[@C;6W+H]46>A@C2
>A2#@C2Q7z46587MWZ7J#e rB8;^7R<]HJsAB8H]4L>T@C2#D658@ N D+465IH]4^4L5Q7MD67zWZ7R4L5Q@KO8DZHJsT@C287uO8@28@J4Z98;b@<?>TO87zHJ2
HJO87 BIH]4L7iDb46;LH]467M\Ja`Y[@C;@C;6OQ7M;6>T28\8e
8
8
"
"
(
F
F
(
(
&('*)',+
-
./0213*4658791;:=<$13?>A@
BDCEGFHJIKMLONQPRC$S
32lDb>A28\JsA7XO8@?EMB8WZ7M2d4PD6B8WZW`H];6> MH]4L>T@C2 ?4L587i@C;6OQ7M;‡@JYƒDb7M2d4L7R28EM7RD|>A2t4L587i@CBQ4698BQ4PD6B8WZW`H];bau>TD
43a?98>AEMHJsAs„atO87R467M;bW+>T287MOjSaz4L5Q7M>A;‡@C;bO87M;P>A2j46587g>T2898BQ4‡4L7nm?4we 5Q>AD DŒ4L;6H]4L7R\JalEMHJ2 S{7yHJO8HJ9Q4L7RO
4L@+WyB8s„4L> O8@?EMB8WZ7M2d4‡D6B8WZW+HJ;6> wH]46>A@C2)e @C28D6>TO87M;‡4 N @+4L587RW+7RD TVUW‡HJ2QXO TVUZY _>TY€D67R2467M28ER7MD
Y[;6@J[
W TVUW:98;b7MER7MO87cDb7M2d4L7R28EM7RDXY[;b@C\
W TVU;Y|>T2 HJsTs >A2898BK4 4L7nm?4LD U4L587R2 98;67RD67M2d46>A28"\ TVUW‡S{7RY[@C;b7
TVUZYv>ADFsA> :J7Ms„ay4L@fSU7 HJ2VH]EMEM7R9Q4GH]S8sA7P@C;6O87R;Me @gB8Db7 4L5Q7 W+H b@C;6>„43ac@C;bO87M;b>A28\gHJsA\C@J;6>T4658W N 5Q7M2
4L5Q7c@C;6O87R;rS{7R4 N 7M7M2D67R2467M28ER7MDXY[;6@C[
W TVUWrH]28GO TAUZYr<]HJ;b>A7MDPY[;6@CW@C287g467=m?4|4L@tHJ2Q@J4L587R; N 7
WyB8DŒ4PHJB8\CWZ7M2d4:4L587iDb46;LH]467M\JaJ(e r287 N Hpau46@+OQ7 287X4L5Q7i@J;6O87R;PS{7R4 N 7M7R]2 TVU^WvHJ28O TVUZY >ADv46@
HJO8@J9Q4ƒ4L5Q7@C;6O87R;ƒ@?EMEMBQ;6;6>T28\|>A2f4L587W+H b@C;b>T43ai@JYI4L5Q7v4L7=m?46D N 587M;b_7 TVUWHJ28`O TVUZY%@KEREMB8;Re 58>TD
Db46;LH]467M\JazO87 287RDXH+9IHJ>T; N >TD67i@C;6O87R; S{7R4 N 7M7R2x46587MWZ7MDRe †‡@ N 7=<C7M; _4L5Q>AD 98HJ>A; N >AD67i;67Rs H]46>A@C2t>TD
28@J4:2Q7MEM7RD6D6HJ;6>TsTa`46;LHJ2QD6>T46>T<J7Jbe aI@C;v7nm8H]W+98sT7 8\J>T<C7R2u4L587r46587MWZ7MD TVUW cTVUZYPH]28O TAUZd‡HJ28Ot4L5Q7
Y[@CsTsA@ N >A28\ D6>T46BIH]46>A@C2 TVUW98;67REM7MOQ7M2D TVUZYF>A2^Hr4L7nmK4 eTAUZYF98;67REM7RO87MbD TVU;dF>A2y46587:DLHJWZ7v4L7nm?4‚@J;
'
A> 2+HJ28@]4L587R;‰467=m?4 KHJ28O TVU;d‚98;67REM7RO87MD TVUW€>A2^aC7R4vHJ28@J46587M;%467=m?4 ?4L587R;67‡>ADFHiER@C2I>TER4‚SU7=4 N 7R7M2
4L5Q7P@C;bO87M;bDAQTVU^W TVU;Y TVU;d %HJ2QOGJTVUZd TVUW,neK>A2QEM7:4L;LH]28D6>„4L>T<?>„43ay>ADFHX287MER7MDbDLHJ;Œa`ER@C28O8>„4L>A@J2
Y[@C;:Hc;67Rs H]46>A@C2V46@^SU7XEwH]sAsA7ROtHJ2z@C;6O87R; 84658>AD;b7Ms Hh4L>A@J2uO8@K7RD:28@J4Y[@C;bW HJ2z@C;6OQ7M;Me
a 7 )46587M;b7RY[@C;b7 5IHw<J7y4L@u7=mK9IH]28O 4L58>TDr9IHJ>T; N >ADb7y;67Rs H]46>A@C2z4L@u98;b@p<K>TO87cH`46@J4GHJs@C;6OQ7M;Me
32~@J4L587R; N @C;bO8D N 7+5IHw<J7Z46@ 28OHtsA>T287wH];r@C;6OQ7M;6>T28\tSU7=4 N 7R7M2~4L587RW+7RD N 58>TEG5W+HhmK>AWZ> R7MD
4L5Q7+H]\C;67R7MWZ7M2d4iSU7=4 N 7R7M246587^@C;6O87R;6>T28\CDX98;6@p<?>AOQ7MO~Sal4L587Z>A289QBQ4|4L7nmK46DMe aI@C;|7wHJEG59IHJ>T;r@JY
4L5Q7MWZ7MD MTVU
ƒHJ28O TAU N )7 :]7M7M9 4 N @uEM@JB82d4LD |HJ28O |>AD:4L587f2?BQWySU7R; @JYƒ>A2898BK4
4L7nm?4LDg>T2 N 58>AEG5D67M2d467M28ER7MDyY[;6@JW TVU
F@?EMERB8;fS{7RY[@J;67ZD67M2d467M28ER7MDgY[;b@CW TVU HJ28O F>AD|4L5Q7
DLH]W+7XY[@C;4L587i@C989{@CDb>T4L7i@C;bO87M;Re 587 N 7M>T\C5d4 @]Y%H+sT>A287MHJ;@C;bO87MD; JTVU
TVU
>AD‡O87 2Q7MO
HJD:4L587iD6BQW@]Y€4L5Q7fER@CB82d4LD‡Y[@C;:7R<C7R;baj9IHJ>T; ! " {DbB8EG5l465IH]$4 #&%(')#+* HJ28-O ,/.1032 5476e
?4LH]4L>T28\ 4L58>TDc98;6@CSQsA7MW >A24L7R;6WZDc@JY|H O8>T;67ME=4L7RO \C;6HJ985 N 587M;b7j2Q@KO87RD`H];67V4L5Q7MWZ7MD HJ28O H
<C7R;b467=mZY[;6@CW TAU
4L=@ TVUv5IHJD%4L5Q7 N 7M>T\C5d4 ! e a 7:EwH]sAsID6BQEG5VHX\C;LHJ9Q5`H|98;b7MEM7RO87M2QEM7r\C;6HJ985)e
a 7uHJ;67+sA@?
@ :>A28\tY[@C;fHl9IH]465 N >T465kW+HhmK>AW+HJs N 7R>A\C5d4 N 58>AEG5k46;LHw<C7R;6D67RDc7wHJEG52Q@KO87`7=mQHJER46sTa
@C28ER7 D67RD7 a>A\CB8;b7 e 6=e
A
Th 1
TVU W
W 8
TVU Yd 8
TVU 9d 8
W
TVU Y 8
TVU YY 8
TVU d W8
TVU d W
TVU 9Y
TVU dY8
2
2
1
Th 2
TVU dd
2
1
1
Th 3
1
1
€>T\CB8;67 e
1
Th 4
: '
N
;%`+"< &( &" ''&&&<*' ,>=? a
"
`"#&6
#&'!@<*
;%A=? )
!'
B,
!
5Q7z9Q;6@CS8sT7MW@JY 28O8>T28\xH 9IH]465 N >„4L5W+HhmK>AW+HJs N 7R>A\C5d4^5IHJDcS{7M7R2$HJO8O8;b7MD6Db7MO Sa
@J587M2 KEG5IH]98>A;b7 {HJ28O K>A28\J7M;
ev>A2t4L5Q7i4LHJD :u@JY€sA7MHJ;628>T28\^@C;6OQ7M;6>T28\CDRe 587RajHJOQ@C9Q4PH
4 N @ 3DŒ4GHJ\C7ZHJ9Q98;6@dH]EG5)e 32x4L587 ;bDb4fDb4LHJ\C7 \C>„<C7R2kHV4L;6HJ>A28>T28\uEM@J;698B8Di@JY‚@C;6OQ7M;67RO>T28Db4LHJ28EM7RD
HJ28OzHcD67=4‡@JYY[7MH]4LBQ;67MDOQ7MD6ER;6>TS8>A28\c46587MW IHcS8>A28HJ;ba`98;67=Y[7M;67R28EM7XY[B828E=4L>T@C2u>ADsT7wHJ;b287MO)e 32t4L5Q7
D67REM@C2QOcDb4GH]\C7 C2Q7 N >A28DŒ4GHJ2QEM7MDƒHJ;67v@J;6O87R;67MOgD6@r4L58H]4%HJ\J;67M7RW+7R2d4 N >T465g4L5Q7 sA7MHJ;62Q7MOy98;b7RY[7R;67M2QEM7
Y[B828E=4L>T@C2 >ADPW`HmQ>TW+> M7RO)e @VOQ@uD6@ @C587R2 (KEG58HJ98>A;b7 _HJ28O K>T28\C7R; e;67R98;67RD67M2d4X4L5Q7
98;b7RY[7M;b7M28ER7rY[B828E=4L>A@J2VHJD HgO8>A;b7ME=4L7MO N 7M>A\J5467MOu\C;6HJ985)e |BQ; 98;b7MEM7RO87M2QEM7X\C;LH]985`EMHJ2VS{7rD67R7M2
HJDFD6B8EG5VHi\C;6HJ985 N 587M;b7‡46587P9Q;67RY[7R;67R28EM7 Y[BQ28ER46>A@C2ZSU7=4 N 7R7M2`46587‡28@KOQ7M2D TVU
UHJ28O TAUv>T>D ! e
587c@C;bO87M;b>A28\JDPY[;6@JW46587y>A2Q98BQ4|H];b4L>TEMsT7MD 9Q;6@p<?>AO87yBQDrO8>A;b7ME=4LsTa N >„4L5 HV98;b7RY[7R;67M2QEM7yY[B828E=4L>T@C2
HJ28O 84L587R;67RY[@J;67 N 7iO8@^28@J4‡287M7ROz46@^sA7wH];62t>T4Me
‡2QY[@C;Œ4LB82IHh4L7Ms„a 4L5Q>ADu98;b@CS8sA7RW >AD 3EM@JW+98sT7R467 @C5Q7M2 KEG58HJ98>A;b7 |H]28O K>A28\J7M;
er98;6@p<C7`>T4iSda;b7MO8B8ER>A28\zY[;6@CW ( ? ?= b XHJsA>Ts%HJ28
O j7M\J>AO8O8@ 6=e
†P@ N 7R<J7M; B8Db>A28\rH W+@?O8> 7MOi<C7M;bD6>T@C2y@JYI46@C9U@JsA@C\C>TEwHJsJD6@C;Œ4ƒ98;b@<?>TO87MDƒBQD N >T465cHJ2cHJ9Q98;6@wmK>AW+H]4L7
D6@JsABQ46>A@C2)e a @J;i7MHJEG528@?O87 N 7`HJD6Db>A\C2H N 7M>T\C5d4g7 ?B8HJs‚46@z46587`DbB8W @JYv4L5Q7 N 7M>A\J546Dg@JY >T46D
@CBQ46\C@C>T28\c7MO8\J7MD‡W+>T2?BQD:46587XD6B8W @]Y46587 N 7M>T\C5d4LD‡@JY>T4LD>T28EM@JW+>T28\c7MO8\J7MDMe a 7 ;bDb4‡98>TE :uB89
4L5Q7y28@?O87 N >T465 W`HmQ>TWyB8W N 7M>T\C5d4 )@C;bO87M;b>A28\`>T4|H]587wHJO @]Y%4L587c@J46587M; 28@KOQ7MD _O87MsT7R4L7g>T4|H]28O
>T46D‚@JBQ4L\C@J>A28\f7MO8\C7RD Y[;6@JW4L587P98;67REM7MOQ7M28ER7i\J;LHJ985VHJ28OVB89{OIH]467 98;b@C9{7M;6s„ac4L587 N 7R>A\C5d46Dv@JY 4L5Q7
;67RW`H]>A28>T28\^28@KOQ7MD‡>A2j46587i\C;LHJ9Q5)e a 7i4L587R2l>„4L7M;6H]4L7X4L5Q;6@CB8\J5j4L5Q7f28@?O87RD B82d4L>Ts 4L587f\C;LHJ9Q5j>TD
7MWZ9Q43aJe @J587M2 @?EG5IHJ98>T;67 CHJ28O K>T28\C7M; e D658@ N 4L5IHh4€4L5Q>ADƒH]sA\C@C;b>T4658W098;b@KO8BQEM7MD‰H‡4L>A\J54
HJ989Q;6@wmK>AW+H]4L>T@C2X@JYQ46587 @C9K4L>AW+HJsCDb@CsABK4L>A@J2)!e B8;6;b7M2d4Ls„a `B8D67RDƒHJ2f>AWZ98sA7RW+7R2d4GH]46>A@C2
@JY}4L58>TD:HJsA\J@C;6>„4L58W Y[@C;>T46D@C;6OQ7M;6>T28\^EM@CWZ9{@C287M2d4Me
a>A\CB8;b7MD e XHJ28O e fDb58@ N 7=mQHJWZ98sT7MD‰@JYU98;6@?O8B8ER7MO`DbB8WZW`HJ;b>A7RDMe |2Q7:Y[7MH]4LBQ;67:@JY{4L58>TD
Db46;LH]467M\Ja+>AD‰4L58H]4v>„4 EMHJ2V98;b@KO8BQEM7rDb7R<C7R;LHJsU@C;6OQ7M;6>T28\CD N >T4L5+4L587PDLHJWZ7 N 7M>T\C5d4we 58>TD 5IHJ9Q9U7R28D
N 587R24L5Q7M;67Z>ADiHu4L>T7cSU7=4 N 7R7M24 N @l@C9Q9U@CDb>T467Z@J;6O87R;6>A2Q\CDMe 324658>ADXDb>T4LB8H]4L>T@C2 )4L5Q>AD|Db46;LH]467M\Ja
""
=
""
"
@
(
"
O8@?7MD‡28@J4P98;6@p<?>AOQ7g7M2Q@CB8\C5jEM@C28DŒ4L;6HJ>A2d4LD:4L@+O87R467M;bW+>T287f@J287f@J9Q4L>TW`HJs_@C;6O87R;6>T28\ {HJ2l@J;6O87R;6>A2Q\
>ADEG5Q@CD67R2l;LH]28O8@CWZsTaVHJW+@J28\y4L587X@C;bO87M;bD N >T4L5tW+HhmK>AW+HJs N 7M>T\C5d4we
!"$#%'&(
")"
*+#,.-/ 1032+245#,%.367 8"91:+
;<+-="97"8
> ;-?; > 8"93@"8("< A"8","8B!DCE7FHG D I"9@. ","8J *33K
LM#,NOA
?!A7 G "B-17P"$#%?.+"9N%")"91Q3"9D
+)RS034?.A
"9T7U;")VW+!;3XX
G "N
'"$#%
.+"9NUJ GYQ7XXZ 7U#%3
Q[K
\]_^U.10327274YR,`37]-a !A7 "93b;7AAc"B#%ed(
")"
c.
.#,.-f"87 3Kb:f3Ag
G 9"
> ;?h7ifQQ+G jb03k(7O G -3R Gl[ !m`;-3K
`37;-#,
3"9H"9@8n"9[]"*A.-)Ao"8M
Z "TpN3"8[O "$-3K
D7Oq!A3r"8"f`;-b#,m7"?;3.Q8 +G cO[7 (."< Af
Dbs$"9n+ bQ9-78 Xt
c.-"8'CE7F+K
€>T\CB8;67 e
u
a
"@; ; <*.v&'" (w <+x#(
Xvzy <|{((
@;g}<& <"~ ,
LM !#,-3R[k72YR|[ 'T"8
=
G
3* 1md@ > 7 G
="97% !@$;39"9'O[M +3"/.n
Q+.
;
K
p
€H5#*"9
A"5 TJ"8)R/sZC
Q|MpCA
G‚dH[ )R t1#,5Q+
+G ? f032+ƒ7kK
LM5#,Q7 €8c+Q@G ",„aA<+-1="9S#,
Gl€ !m
€8f fd' ;K
s8LM(@H| …'+G "*G O+K t
p†"8
96"< "9#*DG "9%@1X8nVW
!7Q="< A|R3‡3qA"9ˆAJ +€ !‚R|77Q;38 A
O ="< !YR|3.[=[ !1"9?3‰A7 "
3K
sZ\ "Š "T3-"9c"8ˆ!;"*
|R t@‹|")"^UA
G 7XA|R+"9AG qŒ‚"93K
pP"5"8@"< *f +3"8|R,qG 63_ f"8cS[A
3"1Ž,6f[ "8O ."#*q?#,#%GlG V<€#'"9z "9
A 1#T‚K
LMcr3fH"9q
Q+QT fA
]"HG "9ˆ"8"+-?Af7!75: +3"*8n[Q7+@
r8 9"< !
7B"K
LMA."< *3/#%73".-"8'
*7ˆŽ,G [J H
(#%[;5#%*|Š NG 7"833K
ˆ+3"8#,53-
Q;"9Z 1
@3=| 6X
G 7E[ X3
K
€8/"9"85d' VZ^ˆ+ˆa*|Š /^U."9"< A:73"97WR
%#,SOA
575 5 M.7GlGZ$G -Ad1
.-R
.Q€89#%
‘
GlG @LU
GlG+<7 YK
LM5#,[€Z? 3"9("8#%A*7[Š > 7 G
'H@H8nV)
!+Q="< A|RLM
GlG[++3‚K
€>T\CB8;67 e u
a
" ; ; <*.v &)"!
?w <+x vey <|{(+(
;g}1<& <"’ 1&,
“c”M• HX– • PRNJK,—
7H]D :J7RO 4658;67R7~5B8W+HJ2 bB8O8\J7MD 82 @]4t>A28ERsAB8O8>T28\@CB8;bD67RsT<C7RD `4L@#ERs HJDbD6>TY a 4L587 BIHJsT>T43a @JY
4L5Q7 @C;6OQ7M;`@]YX>A2QY[@C;bW`Hh4L>A@J2 >T2 Db8B WZW`HJ;b>A7RD`98;b@KO8BQEM7MO BQD6>A2Q\4L587GHJsA\C@J;6>T4658W>A2d46@
a
(
"
4L5Q;67M7gEwH]467M\C@C;b>A7RD @?@C; a HJ>A;‡HJ28O X@?@KO_e a 7gBQD67cHJ2j@C9{7M;LHh4L>A@J2IHJs O87 28>T46>A@C2z@JYFH @K@J;
D6BQW+W+HJ;balHJD|H`467=m?4 N 58@CDb7c;67MHJOIHJS8>TsA>„43a N @CB8sTO SU7gD6>A\J28> EMHJ2d4Ls„aj>TW+9Q;6@p<C7RO Sal;67R@C;6O87R;6>T28\
>T46DrD67R2d4L7M2QEM7MDRe a HJ>A;PD6B8WZW`H];baj>AD|HV4L7nm?4 N 58>AEG5xW+H1:J7RD|D67M2QD67 }S8BQ4X;b7M@C;bO87M;b>A28\u@]Y‚Db@CWZ7
D67R2d4L7M2QEM7MD‡EwH]2ta?>T7MsAOVHySU7=464L7R;;67MHJOIHJS8>TsA>„43aCe a>A2IHJsTsTa KHfD6B8WZW`H];ba N 58>AEG5tEwH]2828@J4S{7rY[B8;Œ4L587R;
>AWZ98;b@<J7MOtSdazHJ2dauD67R2d4L7M2QEM7g;b7M@C;bO87M;b>A28\^>TDEM@C28Db>AO87R;67RO H X@?@?OuD6B8WZW`H];baCe
5Q7 bB8O8\C7RD N 7M;b7uHJ+D :J7MOk46@j\J;LHJO87Z4L587ZD6BQW+W+HJ;6>T7MD|4GH :?>T28\l>T2d4L@jHJEMER@CB82d4y@C2QsTa 4L5Q7
@C;bO87M;f>A2 N 58>TEG5k4L587+>A2QY[@J;6W+H]4L>T@C2>TDf9Q;67MDb7M2d4L7RO)e @ 5Q7MsA94L587RW Y[@?EMB8Df@C24658>ADgHJD69{7ME=4c@JY
4L5Q7f4L7nm?4LD N 7g;67MDb@CsT<J7MO O8HJ28\CsT>A28\Z;67=Y[7M;67R28EM7RD|SU7=Y[@C;67R5IHJ28O_Ve a€>T\CB8;b7 e ^D658@ N D 46587g\J;LHJO87RD
HJDbD6>A\J287MOz4L@^4L587iD6B8WZW+HJ;6>T7MD 4L58;b7M7fD6B8WZW`H];6>A7RD N 7R;67f\C;LHJOQ7MO H]D @K@J; N 7R;67g\J;LHJO87RO
HJD a HJ>A; CHJ2QO+7R>A\C5d4 N 7M;67‡\C;6HJO87MOZHJD |@K@?O)e a 7:HJ;b7:D658@ N >A2Q\i5Q7M;67:4L5Q7‡W+H b@C;b>T43af\C;LH]O87v4L5IHh4
>ADD67RsA7ME=4L7ROZSdagH]4ƒsT7wHJDŒ4ƒ4 N @ bB8O8\C7RDMe 58>TD N HJDƒW+HJO87 9{@CDbD6>ASQsA7 S{7MEMHJB8Db7>A2y@CBQ;€7=mK9{7M;b>AWZ7M2d4LD
bB8O8\J7MD:5IHJOzDb46;6@C28\+HJ\C;b7M7RW+7R24 Q4L5Q7Rat287=<C7M;‡\dHw<C7X4L5Q;67M7XO8> _7R;67R24‡\C;6HJO87RD:46@ZH^DbB8WZW`HJ;ŒaCe
5QD7 ]
HJsT\C@C;6>„4L58W19Q;6@?O8B8EM7RD‡HyD6W+HJsAs{2B8WyS{7M;@JY X@?@?OVD6B8WZW+HJ;6>T7MD KS8BQ4WZ@CDŒ4@JY
4L5Q7fDbB8W+W+HJ;b>A7MD N 7M;b7g\C;6HJO87MOlHJAD a HJ>T;M2e aI@C;P>T28Db4LHJ28ER7 I4L587fD6B8WZW+HJ;bau\J;LHJO87RO |@K@?OzD658@ N 2
>A2 a€>A\CBQ;67 e f@C;6O87R;6D 46587r>T2QY[@C;6W+H]46>A@C2^>A2VHg2IH]46B8;LHJs N Hpa 846587P467=m?4Db4LHJ;b46D N >T465uHgDb7M2d4L7R28EM7
D6BQW+W+HJ;ba+@JY}4L587|7=<C7R24 I4L587R2t46587X@CBQ46EM@CWZ7r@JY}4L587r46;6>AHJs_>TDv\C>T<J7M2 8H^;b7MWZ>A28OQ7M;v@JY 46587|Y HJER46D
4L58H]4iEwHJB8Db7MO~4L587c4L;b> HJsƒHJ28OHt9{@CDbD6>ASQsA7c7=mK98sAHJ2IH]46>A@C2x@JYF4L5Q7^Y H]ER4LDR"e @?@ :>A28\zH]4|46587 X@?@?O
D6BQW+W+HJ;6>T7MD98;b@KOQB8EM7RO SdXa N 7fY[@JB828Ot4L5IH]4P>T4:9{7M;ŒY[@C;6WZD N 7RsAs N 587R2l4L587i>A2Q98BQ4PHJ;b46>AERsA7MD
Y[@CsTsA@ N 4L5Q7DLHJWZ7v@C;bO87M; N 587R2^98;67RD67M2d46>A28\|4L5Q7>A2QY[@C;bW`Hh4L>A@J2)e 32c@J4L5Q7M; N @C;6O8D C4L587:H]sA\C@C;b>T4658W
98;b@KO8BQEM7MDPHc\C@?@KOu@C;bO87M;b>A28\^>„Y46587X>A2898BK4‡HJ;b46>AEMsT7MD Q@C;bO87M;b>A28\CD:5IHw<J7f58>T\C5tHJ\C;b7M7RW+7R24Me
r2 46587z@J4L587R;+58HJ28O N 587R2 HJ2IH]sTa M>T28\ @K@J;+DbB8W+W+HJ;b>A7MD N 7 @CSQD67M;Œ<C7RO 4L5IH]4Z4L5Q7
>A2Q98BQ4i4L7=m?46Dy5IHw<C7`<J7M;ŒaO8> _7R;67R24g@C;6OQ7M;6>T28\CDRe 9 ax46;ba?>A28\z4L@jW`HhmK>TW+> M7y4L5Q7uHJ\C;b7M7MWZ7M2d4f@JY
4L5Q7y>A289QBQ4r4L7nm?4LD _@C;6O87R;6>T28\CD 198;6@?O8B8ER7MDXH`287 N @J;6O87R;6>A2Q\`4L5IHh4rO8@?7MD|28@]4r@?EMEMBQ;r>A2 H]2a
>A2Q98BQ44L7nm?4we 587X@C;6O87R;6>T28\^>AD K4L587R;67RY[@J;67 28@]4:\CBIHJ;6HJ2d4L7M7ROz46@+S{7iHJEMER7M9Q4LHJS8sT7Je 2t7=mQHJWZ98sT7
'&
'&
@JYrH~287 N 98;b@KO8BQEM7MO @C;6OQ7M;6>T28\~>AD^\C>T<J7M2$>A29a€>A\JB8;67 e8e 587jDbB8WZW`HJ;Œa N @CB8sAO$S{7jWZ@C;67
;67MHJOIHJSQsA7|>TYD67=<C7R;LHJs D67R2d4L7M2QEM7MD N 7R;67iW+@p<J7MOjHJ;6@CBQ28O)e 2z7=mQHJWZ98sA7|@]YƒHcS{7R46467M;:@C;bO87M;b>A28\c>TD
\C>„<C7M2u>T2 a€>T\CB8;67 e e 32V4L58>TD DbB8W+W+HJ;Œa K46587 4658;67R7|D67M2d467M28ER7MD‡;67MsAH]4L7RO`4L@y46587 Y HJE=4v4L58H]4v4L5Q7
D6BQS b7ME=4r5IHJOjH^D67=m EG5IHJ28\C7i@C9{7M;6H]4L>T@C2zHJ;67X\C;b@CB89{7MOt4L@C\C7=4L587R; N 58>TsA7|>A2u46587f@J287X98;6@?O8B8ER7MO
SdaV4L5Q7iW+H b@C;b>T43a`@C;6O87R;6>T28\ZHJsA\C@J;6>T4658W 46587RazH];67|D6EMH]46467M;b7MOj4658;6@JB8\C58@CBK44L587XD6BQW+W+HJ;baJe
"
LM !#,-3R[k72YR|[ 'T"8
=
G
3* 1md@ > 7 G
="97% !@$;39"9'O[M +3"/.n
Q+.
;
K
ˆ+3"8#,53-
Q;"9Z 1
@3=| 6X
G 7E[ X3
K
LM5#,Q7 €8c+Q@G ",aA<+-1="9S#,
Gl€ !m
€8f fd' ;K
LMcr3fH"9q
Q+QT fA
]"HG "9ˆ"8"+-?Af7!75: +3"*8n[Q7+@
r8 9"< !
7B"K
€8/"9"85d' VZ^ˆ+ˆa*|Š /^U."9"< A:73"97WR
%#,SOA
575 5 M.7GlGZ$G -Ad1
.-R
.Q€89#%
‘
GlG @LU
GlG+<7 YK
LM5#,[€Z? 3"9("8#%A*7[Š > 7 G
'H@H8nV)
!+Q="< A|RLM
GlG[++3‚K
p†"8
96"< "9#*DG "9%@1X8nVW
!7Q="< A|R3‡3qA"9ˆAJ +€ !‚R|77Q;38 A
O ="< !YR|3.[=[ !1"9?3‰A7 "
3K
LMA."< *3/#%73".-"8'
*7ˆŽ,G [J H
(#%[;5#%*|Š NG 7"833K
s8LM(@H| …'+G "*G O+K t
sZ\ "Š "T3-"9c"8ˆ!;"*
|R t@‹|")"^UA
G 7XA|R+"9AG qŒ‚"93K
pP"5"8@"< *f +3"8|R,qG 63_ f"8cS[A
3"1Ž,6f[ "8O ."#*q?#,#%GlG V<€#'"9z "9
A 1#T‚K
p
€H5#*"9
A"5 TJ"8)R/sZC
Q|MpCA
G‚dH[ )R t1#,5Q+
+G ? f032+ƒ7kK
€>T\CB8;b7 e y
a
""E{( #
#FH N
!"@; ; <*.v <& <"H’ 1&,
Q5 >AD‚HJsA\C@J;6>T4658WEwHJ2+SU7‡B8D67RO+46@f@C;bO87M;FD67R2d4L7M2QEM7MDvHJEMERB8;LH]467Ms„a^>TY N 7 HJ;67:EM7R;b4LHJ>A2^4L5IHh4
4L5Q7u>A2898BK4y4L7nmK46DyY[@CsAsT@ N D6>AWZ>AsAHJ;X@C;6\CHJ28> MH]4L>T@C28DRe 58>AD^HJDbD6B8WZ9Q46>A@C2W+Hwa58@JsAOk>T2sA>AWZ>T467MO
O8@CW+HJ>T28D N 587R;67iO8@KERB8WZ7M2d4LD:5IHw<C7iH mK7MOz@C;6\CHJ28> MH]4L>T@C2V@JY}4L5Q7i>T2QY[@C;bW`H]46>A@C2_e€†‡@ N 7R<J7M; U>T2
@CB8;EMHJD67 Q4L5Q7i>T2898BQ4 4L7=m?46D N 7iHJ;67 98;6@?EM7RD6D6>T28\^O8@^28@J458Hp<J7XD6B8EG5j;67M\JB8s HJ;b>T46>A7MDRe @?@ :>A28\cHh4
4L5Q7cOIHJ>As„alDŒ4GH]46>ADŒ4L>AERD|@JY 7 N D6S8sAHJDb467M; % N 58>AEG5~EM@CsTsA7RER4LD EMsABQDb4L7R;6DX@JYF;67Rs H]467MO~HJ;Œ4L>AERsA7RD 4L@tS{7
Dba?2d4L5Q7MD6> M7ROk>A2d4L@t@C2Q7cD6B8WZW`H];ba N 7Z28@J4L>TEM7y465IH]4|4L5Q7^43a?98>TEwHJs%ERsAB8DŒ4L7R;iDb> R7c>AD|D67=<C7R2)e 9 BK4
7R<J7M;ŒaVOIHwaZ4L587R;67|HJ;b7 Db7R<C7R;LHJs_EMsABQDb4L7R;6D N 5Q>AEG5uEM@J24LHJ>A2+W+@J;67P465IHJ2 yHJ28OVBQ9`4L@ yHJ;b46>AERsA7MD
"
!#"$%&'()()+*
4L@^S{7XD6B8WZW`H];6> R7MOt>A2d46@ZDb>A28\JsA7|D6BQW+W+HJ;6>T7MD Re a >T465zDbB8EG5 HcS8>T\^2?BQWySU7R;:@JYƒ>T2898BQ4‡HJ;Œ4L>TEMsA7RD
N 7yEwHJ2Q28@J4XHJDbD6B8WZ7g465IH]4 46587Ra N >AsTsH]sAs 5IHw<C7cDb>AWZ>As H];@C;6O87R;6>T28\`@JY%46587y>T2QY[@C;6W+H]46>A@C2)e D
9{7M;bY[@J;6W+HJ28EM7XER;6>T46>AEMHJsAs„a+OQ7M9{7M28O8D‡@C2t4L587fHJ\C;b7M7RW+7R24‡@JY@C;bO87M;b>A28\CD:>T2t46587i>A2898BK44L7=m?46D N 7
4L5Q7M;67=Y[@C;67 287M7RO HJ2z@C;6OQ7M;6>T28\ZDb4L;6H]4L7R\Ja N 58>TEG5jEMHJ2 4PHJ2dat>T2898BQ4‡OIH]4LHQ2e a ;b@CW 587R;67i@C2 N 7
N >AsTsY[@?EMB8D|@J28sTal@C2 4L587 58;b@C28@CsT@C\C>TEwHJs r;6O87R;6>A2Q\jH]sA\C@C;b>T4658WHJ28O 4L7REG5828> B87RDi46@u>AWZ98;6@p<J7
>T4Me
(
&('*)'
A1;02>A0?0
@ 3
. 791;:=<13,>A@
BDCEGFHJIKMLONQPRC$S
jB8s„4L> 3O8@?EMB8WZ7M2d4`D6B8WZW`H];6> MH]4L>T@C2 @]Yf2Q7 N Du43a?98>AEMHJsAs„a OQ7wHJsTD N >T4L5 H];b4L>TEMsT7MD`9QB8S8sA>TD6587RO @C2
O8> _7R;67M2d4fOIH]467MD €HJ28OHJ;b46>AEMsT7MD|4L5Q7MWZD67Ms„<C7RDgEM@p<J7M;y7=<C7M2d46Dy@KEREMB8;b;6>T28\j@p<J7M;yH N >AO87Z;LH]28\C7^@JY
4L>TW+7]e PDb>A28\jEG58;6@J28@CsA@J\C>AEMHJs%@C;6OQ7M;i>A246587ZD6B8WZW`H];ba 4L@jO87MDbEM;b>AS{7+4L5Q7`W+HJ>A2x7R<J7M2d4LDc5Q7MsA9QD
4L5Q7jB8Db7M;ZB828O87R;6DŒ4GHJ28O N 5IH]4Z5IHJDZ5IHJ989{7M2Q7MO)e 4ZDb7M7MWZD`sT> :]7tH~2IHh4LB8;6HJs:HJ28O HJ9898;b@C98;6>AH]4L7
Db46;LH]467M\JaJe DWZ7M2d4L>T@C287MOt7MHJ;6sT>A7M; Q>T2u@CB8;vY[;LH]W+7 N @C+; : N 7iHJ;b7|@C;6OQ7M;6>T28\y4L5Q7MWZ7MD IBQD6>A2Q\y4L58>TD
Db46;LH]467M\Ja N 7 v4L5Q7M;67=Y[@C;67 v287R7MO 46@kHJDbD6>A\J2 H~OIH]4L7t4L@~4L587RW+7RDMe @>TO87M2d46>TY a4L5Q7jOIHh4L7jHJ2
7R<J7M2d4Z@KEREMB8;b;67RO ;b7 B8>A;b7MD^H O87=4GHJ>TsA7RO>A2d4L7R;698;b7R4GHh4L>A@J2k@JY:4L7RW+9{@C;LH]s ;67=Y[7M;b7M28ER7MD^>A2#HJ;Œ4L>TEMsA7RDMe
a 58>TsA7f46587M;b7c5IHw<C7cS{7M7R2~;b7MER7M2d4XO87R<J7MsT@C98WZ7M2d4LDX>A2lO8>AD6HJWyS8>T\CBIH]46>A28\^4L7RW+9{@C;LH]s7nmQ9Q;67MDbD6>T@C28D
HJ28Ol7R<C7R2d4X@C;6O87R;6>T28G\ a >A7MS{7g7=4|HJs e jHJ28>HJ28O a >AsTD6@C2 a€>AsAH]4L@p<]HZHJ28O †‡@<a
?EM@C;b;67Rs H]46>A28\i7R<J7M2d4LD N >T465`4L5Q7 OIH]467r@C2 N 5Q>AEG5V4L5Q7Ra+@KEREMB8;b;67MOu>TDvHg58HJ;6O`4LHJD : e 32u@CBQ;
EwH]D67 N 7+H]9898;6@wmK>AW+H]467g4L587c46587MWZ7c4L>AWZ7ySda >„4LD ;bDb4i98B8S8sT>AEMH]4L>T@C2l4L>TW+7 )4L5IHh4X>AD 46587 ;6DŒ4
4L>TW+7i4L587f4L587RW+7c5IH]DrSU7R7M2x;67R9U@J;b4L7ROx>A2 @CBQ;rD67=4X@JYF>A2898BK4XHJ;b46>AERsA7MD Db7M7 a€>T\CB8;67 e =e 4|>TD
HJ2~HJEREM7M9K4GHJS8sT7^HJ9898;b@wmQ>TW`Hh4L>A@J2lY[@C;r287 N DX7R<C7R2d4LD 4L587 ;bDb4i98B8SQsA>AEMH]4L>T@C2j46>AWZ7y@JY‚HJ2x7R<J7M2d4
B8DbBIHJsAs„alER@C;6;b7MDb9U@C2QO8Di46@u>T46D|@KEREMB8;b;67M2QEM7^>A2 ;b7wHJsƒsT>TY[7]De aI@C;|>T28Db4LHJ28EM7 >A2xHV4L7R;6;b@C;6>TDb4XH]4b4GHJE :
'&
0
(
"
"!
""
8
$%( * &
%& * "
$
$( &
$
"$ ()*
*$
"
bD 46@C;ba _4L5Q7f4L5Q7MWZ7yEM@C2d<J7Ra?>A28\u46587yH]4b4GHJE:z>T46D67RsTY N >TsAs}5IHw<C7cH`O8H]4L7y9Q;67R<?>T@CB8D 46@`4L587gOIH]4L7f@JY
4L5Q7X46587MWZ7XO87MDbEM;b>AS8>T28\ZHc46;6>AHJsUY[@CsTsA@ N >A2Q\g4L587iH]4b4GHJE: e
587MWZ7 †‡@CB8;6D^HhY 4L7M;y46587tEM;6HJD65 ?fe Ueƒ@ ZER> HJsTDcDLHJ>TOk4L5IH]4c46587u4L;6HJ\C7MOKa
5IH]OySU7R7M2^EwH]B8D67ROZSdagHJ2 PWZ>ADbD6>TsA7 ;67ROcSa `:;LH]>A287‚O8B8;6>T28\
WZ>AsT>T4GH];ba^7=mK7R;6EM>TD67RDP@C2t4L5QD7 ;b>AWZ7wHJ2 7M28>T28D6BQs HQe
ie Ued@ +ER> HJsTD%DLHJ>TO+>TW+WZ7MOQ> H]467MsTafH]Y 467M;%4L5Q7PER;LHJDb5Z465IH]4‰4L587=aZ5IHJO
7=<K>TO87M2QEM7X4L587X9IHJDbD67R28\C7M; b7R4 N HJD‡58>T4:SdatH !:?;6HJ>A2Q> HJ2uWZ>ADbD6>AsT7Je
4 ie {e?@ +ER> HJsTD‰DLHJ>TOZ465IH]4‰4L587‡EM;6HJD65+5IHJO+SU7R7M2`EMHJB8Db7MOVSda+HJ2
9 BK?
xW+>TD6Db>AsA7 ;b7MO WZ>ADŒ4G1H :]7M28s„a#Sda !:?;6HJ>A2Q> HJ2#Y[@C;6ER7MD+O8B8;6>T28\
WZ>AsT>T4GH];ba^7=mK7R;6EM>TD67RDP@C2t4L5QD7 ;b>AWZ7wHJ2 7M28>T28D6BQs HQe
a€>T\CB8;67 e :u ;%F(
(
" &"# 'N"#& #&&", : ;% ; " " $!{&"!
(
N"
<*{(&"
' E{ <*
(5
;% !"#& #&&",
"
"
b; 46>AEMsT7MDf;67MsT7wHJDb7MOkSda287 N DyHJ\C7M2QEM>A7RDyHJ;b7`W+HJ; :]7MO N >„4L5Hz98B8S8sT>AEMH]4L>T@C2~46>AWZ7 }EM@C2
D6>TDb46>A28\z@JY:HzOIH]4L7+HJ28OkHt46>AWZ7 N >„4L5~4 N @ 7MsAOQD [58@CB8;gHJ28OWZ>A2BQ467MD =e ;Œ4L>TEMsA7RDiY[;b@CW 4L5Q7
DLH]W+7Z287 N DgHJ\C7R28ERaHJ;b7Z465?BQDg\CBIH];LHJ2d4L7R7MO46@l5IHw<J7`O8> _7R;67M2d4f98B8S8sT>AEMH]4L>T@C2 4L>AWZ7MDRe 58>TDf>TD
HJsTD6@ B8>T467csA> :J7Ms„ajY[@J;|HJ;b46>AERsA7MD EM@CWZ>A28\+Y[;6@CWO8> U7M;b7M2d4X287 N DiHJ\J7M28ER>A7MDRe rB8;b>A28\`46587^O87R<J7Ms
@C98WZ7M2d4‡@JY N 7i98;b@KER7MD6Db7MOj5?BQ28O8;67RO8D @]Y%HJ;Œ4L>AERsA7RD IHJ2QO N 7X287R<J7M; 7R28EM@JB82d4L7M;b7MO
4 N @tHJ;b46>AEMsT7MD N >T465j4L5Q7yDLHJWZ7g9QB8S8sA>TEwH]46>A@C2t4L>TW+7]e 5?BQD )7RW+98>T;6>TEwHJsTsTa`46587g9QB8S8sA>TEwH]46>A@C2t4L>TW+7
D67R;b<J7MD+HJD^H B828> B87u>TO87M2d46> 7R;c@<J7M;ZHJ;Œ4L>AERsA7RDMe D^H ;67MDbB8sT4 N 587M2#4 N @x4L5Q7MWZ7MDc5IHw<C7t4L5Q7
DLH]W+7|98BQS8sA>TEwH]46>A@C2`46>AWZ7 K>T4WZ7wHJ2QDv4L5IH]446587RatS{@J465jH];67|;67R9U@J;b4L7ROuY[@C;v4L587 ;bDb446>AWZ7r>A2u4L5Q7
DLH]W+7XHJ;Œ4L>TEMsA7]e
rB8
; 58;b@C28@CsT@C\C>TEwHJ_s r;bO87M;b>A289\ cHJsT\C@C;6>„4L58W 4GH :J7MD+HJD^>A2Q98BQ4+H D67R4+@JY‡4L587RW+7RD
HJ28O@C;6OQ7M;6Di4L587RWEG58;6@J28@CsA@J\C>AEMHJsAs„a N 587R287R<J7M;c9{@CD6Db>AS8sT7Je ‰HJEG54L587RW+7Z>ADfHJD6Db>A\C2Q7MOkHzOIH]467
EM@J;6;67RD69{@C28O8>T28\f46@f>„4LD ;bDb4‚98B8S8sT>AEwHh4L>A@J2)e @gOQ@gD6@ N 7PDb7MsT7MER4‚Y[@C;‰7wHJEG5+4L587RW+74L5Q7PDb7M2d4L7R28EM7
4L58H]45IHJD‚4L587|7MHJ;6sT>A7MDŒ4v98BQS8sA>TEwH]46>A@C2Z4L>AWZ7Je a 7|EMHJsAs{>T4‚4L587P4L>AWZ7 DŒ4GHJWZ9uD67R2d4L7M2QEM7iHJ28OtHJDbD6>T\C2
'&
9(
&
(
>T46D98B8S8sT>AEMH]4L>T@C2`4L>TW+7rHJDv4L587|46>AWZ7 Db4LHJWZ9z@]Y46587|4L587RW+7]e 58>AD7RDb4GH]S8sA>TD6587RDPHc9IH];b4L>AHJs_@J;6O87R;
@p<C7R;F465874L587RW+7RDMe a 587R2+4 N @i46587MWZ7MDF5IHw<C7:4L587:D6HJW+7:OIHh4L7 [465IH]4F>AD C4L587=aZHJ;67:;67R9U@J;b4L7ROZY[@J;
4L5Q7 ;bDb4€46>AWZ7‰>A2X4L587‚DLHJWZ7 H];b4L>TEMsT7 N 7 D6@C;Œ446587MWHJEREM@C;bO8>A28\‡4L@‡4L587R>A;}@C;6O87R;€@JYQ98;67RD67R24LH]4L>T@C2
>A2 4658>ADrHJ;b46>AEMsT7Je 58>AD ;67MDbB8sT46DX>A2 HV4L@]4GHJs@C;6O87R;|@p<C7M;|46587c>A289QBQ4r4L5Q7MWZ7MDMDe a€>A\JB8;67RD e VH]28O
e cD658@ N 7nm8H]W+98sT7MD@JY€D6B8WZW+HJ;6>T7MDv98;b@KOQB8EM7ROjB8Db>A28"
\ ye
!
*7SOA
PQ3AQ
G 33(
G A!#: "8O[$*UC
€ "
CPO (d@ "9U.#,F*‹‚7O ˆT!;331"9
"9"< =-H!+7 9" 1(XH 36AG 67 !cQ+Z G ( > € !'
D€ A
Q+Q7 !(7;!+R|?Q7X33"9[S<7 aA<+-3K
Œ > ;Rˆ"8D")"9[B.-D!777
G R%X7 a"8""8?O[$*7*M 67 GEpU6 "< cpN"8[O "$-b7 B
r
Gl37-1![ 6119""9","9DQAG +K
‹‚J 3Š fG #,-3:[ X3a"8z.#/1#*q.Q
€ !b"9eQ[;"9@="9*‹‚J 157D
b
Q+Q=
.O[f > | GM![ "8"9'"9g37,#: "83X![ 6@9""97*"9!+7 9"(7 HKq‹‚7J 5<7 _D |.73"K
GlG !
"< A,9"97)A 1
GlG 3!73'")"97Q3"/"9@[ 6;"TfQ+G (J !| !($:-H ˆŽP=
GCA;63F
df7B=M"9
M7+)A ‹‚J +€. 8"9,
0 K
€~ >T1\C1B8 ;6, 7 e 'qu
a
"@; ; <*.v'1'&<" A{( <|{*y <|{(
;
<& <"
AX
+/7/Q3AQ
G H6")"97@H*3-' M7 A7|A*[="< !H"89"
6X7]-H
"8+3G -? !7N")"€3N!
7 "/K K‚1XZ * P-31
@
F
|K
|
[‚| 8 773" <
c7 +|RY3f79"97B | !@"8H")"€3R‚
b7 H"87;H9"< GlG
"5G !7
K
CP;3Z +",ˆG "9A*<7 YRˆs): "9767 8"< *%7"8 %6 A%J *:9"9[|O[‚.6;-3"87 !"8"/ J !A"
A"/+M.A
"8]-1
("8#%[$G tK
/K K[O77
G‚Q7X3"9[*67!73c0ƒfQ3AQ
G 1 "8' !7K
pNGlJ !A"/<7 ("8"T"8(*+$7 [email protected]"< 3K
P-3
7;X;6 !@?"< A
G+
.-7/*+$7 !? ?A[7P"8
A0hfQ3AQ
G 5#*(| 3'"8+K
€’ >T\CB8 ,;67 e
a
! qu
"@; ; <*.v'1'&<" A{( <|{*y <|{(
;
<& <"
“c”M• HX– • PRNJK,—
I@CsAsT@ N >A28\|4L5Q7rDLHJWZ7 WZ7R4658@?O8@CsA@J\Ja N 7rB8D67ROuY[@C;F46587
HJsT\C@C;b>T4L5QW7R<]HJsTBIH]4L>T@C2 N 7|HJD :]7MO
4L5Q;67M7u5B8W+HJ2 bB8OQ\C7MD [28@J4c>T28EMsTB8O8>A2Q\ @CB8;bD67Ms„<C7RD g4L@ \C;6HJO87 D6B8WZW`H];6>A7RDg\C7R287M;6H]4L7RO#Sa
4L5Q7‡DŒa?Db4L7RW B8D6>T28\i46587 HJsT\C@C;6>„4L58WHJ9Q98sA>T7MOc4L@X4L587:D6HJW+7ER@CsAsT7ME=4L>A@J2c@JY)>T2898BQ4%467=m?4LDRe 587
;67RD6B8s„4LD+HJ;67tDb58@ N 2 >A29a€>A\JB8;67 e t4L7R2 DbB8W+W+HJ;b>A7MD N 7M;b7l\C;6HJO87RO HJD @?@C; v7M>T\C5d4 N 7M;b7
\C;6HJO87MOjHJD a HJ>A; HJ28OzD67=<C7M2 N 7R;67i\C;LHJOQ7MOzHJD X@?@?O)e
rB8; ;6DŒ4ƒD6BQD698>TEM>A@J2 N H]D€4L5IHh4ƒ@CB8;€HJ9898;b@wmQ>TW`Hh4L>A@J2fO87=<?> H]467MD€46@K@PWyB8EG5gY[;b@CW 4L587v;b7wHJs
EG58;b@C28@CsT@C\C>AEMHJs @C;6OQ7M; @]Y‰7R<C7R2d4LDXHJ28O U4L5Q7M;67=Y[@C;67 )sA@ N 7M;bDP4L5Q7 BIHJsA>„43at@JY‰D67R2d4L7M2QEM7^@C;6OQ7M;6>T28\8e
@X<J7M;b>TY ag4658>AD%5da?9{@J4L587RD6>TD N 7:>TO87M2d4L> 7MO^Db7M2d4L7R28EM7RD‚4L58H]4‰S8;61@ :J74L587@J;6>A\J>A2IHJs?EG58;b@C28@CsT@C\C>AEMHJs
@C;bO87M;H]28OV;67RDb46@C;67ROV4L587r@J;6O87R;6>A2Q\yW`H]2?B8HJsAs„aCe 32467M;b7MDb46>A28\JsTa ?4L587 O8>ADb98s HJER7MOVDb7M2d4L7R28EM7RD N 7M;b7
W+HJ>A28s„aySIH]E :?\J;6@CB82QOu>A2QY[@C;bW`Hh4L>A@J2)e 5Q7 7R<]HJsTBIH]46>A@C2Z@JY)46587 WZ@KOQ> 7RO+DbB8W+W+HJ;b>A7MDFD65Q@ N D 28@
<?>ADb>AS8sT7r>AWZ98;6@p<J7MWZ7M2d4we
a 5Q7M2zEM@CWZ9IHJ;b>A28\ |@K@?O a€>A\CBQ;67 e 6vHJ2QO @K@J; a€>T\CB8;67 e 6‚D6B8WZW+HJ;6>T7MD N 7i28@
4L>TEM7V4 N @985Q7M28@CWZ7M28H ;6DŒ4 W+HJ2da@JY‡4L5Q7zS8HJO8sTak98s HJER7MO$D67R2467M28ER7MD+EwHJ282Q@J4ZSU7t@C;bO87M;b7MO
SIHJDb7MOV@J2Z46587M>T;‰467MWZ9U@J;LHJsI@?EMERB8;6;b7M28ER7Jbe aI@C;‰>A28DŒ4GHJ2QEM7 ?>A2 a€>T\CB8;67 e d46587PDb7M2d4L7R28EM7 B8@]4L>A2Q\
sA>T2d4L@C2Z>AD‰28@J4F@C2Q7P7=<C7M2d4>T2c4L587PD67 B87R28EM7 @JY)7=<C7M2d46DvSU7R>A28\iO87RD6EM;b>AS{7MO ?S8BQ4‚;LHh4L587R; KHi;b7wHJE
4L>T@C2t4L@^4L587fW`HJ>T2t7R<C7R2d4LDMe 4L@?@Cs HJD6Db>A\C2Q>A28\c4L>TW+7XDŒ4GHJWZ98D N @CBQsAO H]D6D6>T\C2t4L@+4658>AD:Db7M2d4L7R28EM7
4L5Q7jOIHh4L7zH]4 N 58>AEG#5 sA>T2d4L@C2#W+HJO87t58>AD^DŒ4GH]467MWZ7M2d4we 58>AD^>ADZHJsTD6@ 4L;bB87uY[@C;c4L587tDb7M2d4L7R28EM7
;67R9U@J;b4L>T28\ sASQ;6>A\J54 Di;67MHJER46>A@C2_e D6Db>A\C28>T28\ HzOIH]467+4L@lHl;67MHJER46>A@C2 €@C;iW+@J;67Z\C7M287R;LHJsTsTa 46@
HJ2da~D67R2467M28ER7VEM@J2<J7Ra?>A2Q\ SIHJE :\C;b@CB828O>T2QY[@C;6W+H]46>A@C2 )HJ28O9Qs HJER>A28\z>T4i>A2d46@z46587+EG5Q;6@C28@JsA@C\
>AEMHJsvDŒ4L;67MHJW@JYP4L587tW+HJ>A27=<C7M2d46DVO8@?7MD^28@J4Z98;b@KO8BQEM7jH~sT@C\C>AEMHJs @J;6O87R;6>A2Q\8e 587j@J;6O87R;6>A2Q\
@JY‰4L5Q7MD67y46587MWZ7MD|>TD _46587M;b7RY[@C;b7 28@]4|EM@p<C7R;67ROSda 46587 .H]sA\C@C;b>T4658WjVe aIB8;b46587M;bW+@C;b7 )Db@CWZ7
D67R2d4L7M2QEM7MD‡EwH]2828@J4:S{7|HJDbD6>A\J287MOzHJ2da`46>AWZ7 DŒ4GHJWZ9)be aI@C; >T28Db4LHJ28ER7 Q46587|D67R2467M28ER7
a
(
"
!
! (
(
* 243 /A- 5
- />- 3 0
. ? 2 / . 5 3;: . ? . / ?G 3$G .$1 ? 0'/ G3 0
:3 - 3 5 2 /A- 7 / ? 2 . ?3 - 3 7 . 0 . 5 /
/ ?F: ?
8O 7RD6EM;b>AS{7MD|HZDb4LH]4L7i;LH]46587M;:4L58HJ2 HJ2j7R<C7R2d4XHJ28O
4L5Q7M;67=Y[@C;67 C4L;ŒaK>T28\P46@|O87MDbEM;b>AS{7v>T4>A2g467MWZ9U@J;LHJsd4L7R;6WZDƒ>AD>A2d<]HJsA>TO)e 5B8D C46587v@C;bO87M;b>A28\rEMHJ2828@]4
S{7i>TW+9Q;6@p<C7ROjHh44L587|4L7RW+9{@C;6HJs)sA7=<C7Rs e
5Q7PDb7MEM@J28O`985Q7M28@CWZ7M2Q@C2 N 7:@CS8Db7M;b<J7MOV>TDƒ4L5IHh4 @?@C;‰D6B8WZW`H];6>A7RD€43a?98>AEMHJsAs„agER@C2d4GHJ>T2
HJS8;bB89Q4iD N >„4LEG587RDf@]Y‚46@C98>AERDXHJ28OHJ;67c\J7M287R;LHJsTsTaj>A28ER@C587M;b7M2d4we aI@C;|>T28Db4LHJ28EM7 >A2 a€>A\JB8;67 e
B8@J467MDvY[;6@JW `@ ZEM>AHJsAVD [4658>A;bOuHJ28O Y 4L5uD67R2d4L7M2QEM7MD HJ;67rDb98sA>„4 ?HJ28OuDb7M2d4L7R28EM7RD‡HJSU@JBQ4v4L5Q7
WZ@CB8;62Q>A28\ ;6DŒ4:HJ28OtDb>„m?4L5uDb7M2d4L7R28EM7RD :HJ989{7wHJ; 46@K@fY HJ;HJ9IH];b4>T2`4L587|DbB8WZW`HJ;ŒaCe |;6@JB898>A2Q\
4L5Q7MW 4L@C\C7=4L587R; N @CB8sTOV>A28ER;67MHJD67 46587 ;b7wHJO8HJS8>AsT>T43a^@JY_4L587rDbB8WZW`HJ;ŒaCe 4‚4L58>TD 9{@C>A2d4 N 7r287R7MO
4L@ 2QOlHJOQO8>T46>A@C2IH]s_EM@J28Db46;LHJ>T246D4L@^>AWZ98;6@p<J7r4L587X@C;bO87M;b>A28\8e
3 0 3 / . ? - 5 /10 0'/ 5 .$1 ? - / ?F: 3 . . 0 . / ? 7 . ? . ?G 8
(
! <;
R
SCM @*IGK
AHCF@JR
OQGA
A%I OT
DCNEGA%CN@*IGK
>)ISE
LVIG> T@*T
!#"%$&'&)(*+#"%-,.&/"0,-12+4356$&/78943:;%<"%1#8=35>78%"%/#?6&@1"A&6"5
/"A1$()B&35+#&/CD3:(*+"%EF"%/1)/78%&G H7&I&(7"%J,-67%&/7835@+/"%$8%H*KAL#?6M&
,N#O!$?B3:&P"Q,R+"'71+#CSEB435/+)/&N":CT"%1#8%&U+35P(V3:O7?'/"Q:W+I3:>#8%"%;+?<G
&('DX ',+
0?< ^4Z3,>A@
.
0
1ZYW[]\ 0.^<_`[*4Z3/Y <
0 1;:=<13,>A@a\
AM)()&67b3+cKA'()3:bdLO"%/1)/)1b7e3FM$?fdg)@":CP,U3VE!&)h-3:1b+i*K!63:&j3,N"%>#
,N7>#>k&/7>7>k("%%*El&3:?6I?'V3:#8G 9 $m?63Qn/"%/#Eo":CpL":&&#d>7I"%/1)/&]3:/q># ::>#Ei"
dgo$43:(())Ar3:d>#odL(V3:$&o+*Esd/V31:H()"%%+7":&6"5Ct#Cu"%/?B357"%9/)&r357"%vG W
,-30Ej"q#1)+;CSEf+)&t()"%:)+#"%&-#&w+"x41B("%?'?6"%3:>7;+7&w3:?'"%81;yz)-3:()()+3:d>#
"%/1)/78%&":Ca+6&3:?6j#Cu"%?6357"%vG{pKA+3:(*+#8l/)8%$>|3:/#+#)&]#H&/:)+35>.35()()r35d>7'"%}
178%&](V359)>7F$&]&g)(#CSE":178i()"%&/+3:7&]Cu"%W3i8%;%)F#$mEAg:GI~@7&m"
435$+35>7>#Ei"A(()$/78B*KA#&/+#8'()"%>#>7)(*+#"%l"5Cw&$?'?63:#)&Cu"%P?f$>#7>#W1"!()$?')+&P+43 t,.
3V,U35N":C G 9 $a%B&/$(ri3W()":>7>7(7"%,."%$>#16": dLN&/$'()7.&/7(,-N,U35M "q3543:>#E
3@()"%>#>7(+#"%i":CT?f$>;+#>7t&$?'?B357&U"0%N&+3:?'W&*P":C 35/+#()>#)&)G a ()/V35)1<"%$"0,N
()":>7>7(7"%O":Cp?f$>#7>#]"%/1)/78%&N/"A1$()1dEO1#yL)/)mM$?63:&Gt&/78'+#&N()"%>#>7)(*+#"%vh
,.q&+$1#)1<()"%?'?'"%odL43V!7"%/&t351O?B3:L1O)?
"j&/+35+8%7&Cu"%"%1)#8G
]$N("%>7>#)(7"%B":Cp?$>#7>#m"%/1)/78%&h43:>#"%8f,N#O"%$U+&/P()":$&P7&U3053:#>|3:d>7]3 "!#$%&('&'#"!&)* G a 6("%>7>#)()19+)H&*+&"5CN3:/;}
()>#)&@Cu"%@+7&j()"%>#>7(+#"%vGb{ 3:(r&6()":&#&/+1 ":Ct,-"9+"F+)<*,N&i3:+7(>7&@)g"%+78
+q&3:?6*%))G_aZ":P)3:(r&/)hg,.q?63:M$43:>#>#EB&)>#)(*+)1<+I7)&/)(*+7":l&/)+()&)hv&/7?f$A}
>|3 +78$+VGD] 30:)3:8%:hk)3:(r9&("%r3:#)1-,AG.,i#M)/&)(*+#"%F&M)()&G@~
&+)())&,.)@(>7)3:)1F"5C *KA>7#();m/Cu)/)()&uCu":m7&/r35()5hv"A(()$/()&W":C0/+
71)21F,.)O/)&":>#%1e"3/
,."%$>71H":$&'+?
)& }
)&/71 ->#7+":41 3:1e("%(#%&)hU&/"F+435j3:/7()#43:+&
35&q(>7$&qCu"%I"%1)#8Go~J) &/$d!n/(+&@3:/7()#435)197H'*KAL }
?')VhM3:1jEfV3:(rjd$#>#w":"%1)#8Wg)w&* ":Cg7+&/)(7"%j&/)+()&)G.{a35(r'&/$d!n/(
,-3:&f3:&
5:1=+"<"%1)+j7)&/)(*+7":=&+)())&":CN3O&q&"<+43 IE Cu"%/?
3OV35143:d>#
+cK!VGbm%+3:>#> h%,.N"%dr3571 766 "%1)#8%&h%+)'3:>;+435#:"%1#8%&wg)w&*VG aT78%$/98AG;:
&"Q,N&N+)l3:>#)/435+;%W"%/1)/78:&()"%>#>7)(*+1OCu":"%&*VG
a qx&/]"%d&/:)1+35W3'&$/#&78%>#Eo>73:8:qg"%/7"%<":C ":178%&m351#yL)}
))GV]$t":C q)l&&)hL"%>#Eo,."i&/+&t43:1l&"%?'#1)+#(V3:>k":178%& u7<"%q&)hg,."
"%/1)/78%& ,.)/t#1)7(V35>,N7>#7@+P"5+a&/)hM)/P,.)/P,."I43:7/&w":CL71M7()3:>"%/1) }
78%& cG~#&53:/7*E7j"!1$()19"%1)#8%&]()3:9dL@#M)/*+)1H3:&W&/$8%8%&/+#8o+43 ":3:>7>Z+W":178%&-,.)35(+$3:>7>;E'53:>#71i":.+35U+]r3:&
56,-3:&?B3VE!dgm+"!"@43:/1iCu"%-+
<= *
* $
!
&'* !
EF %
L K%( !
>?@=
!
'
+!
%"
* !
*
ACB
+ ( !
( *
&*%%* &'&'
* $
( "%
%& %"
"$ ' +
( &
%
HG
$
( ""
$
!
$
.D
!
( I7J
* "
& ,
3:/7()#43:
3:/7()#43:
3:/7()#43:
3:/7()#43: 3:/7()#43: 8
3:/7()#43:
3:/7()#43:$
3:/7()#43:9,
3:/7()#43:9:
3:/7()#43: 76
a a a {
a
a a9 {
a9
{
a
-{
{
a a {
{
{
R{
{
ap#8%$ 8AG;: wS{E{ "!#$%&#')(+*, -)&#.(/$0&1)#-23A {O{423)&65 u } 7H}8545$57}:9;(/< &<!=*, 0(/4&:/4&>234($5
? &<!#${@&#4! <A%$< #/ ; <A2<|{J{=vB@!#4&:C<4! E{82D8($5
E
&$d!n/)(*+&-"f3:>#>7"0,)?
"/"A1$()m/V3:&/"%43:d>7P"%1#8%&)G 6CD3:(*VhA3:>7>t&/$d!n/(+&U,.)/
&+3 +7&x4)1O,N#o+I"%1)#8%&UEo"!1$()1vG2aZ$/+)?'"%/:h,.q?63:M$43:>#>#E',-t"%$8%
F
3:>#>J 766 "%/1)/78:&)hk3:1H35>7>T3:gV3:/)1F+"odgf53:>7#1vG ":+],-":1&hv+j3:/@?B3:E
3:(())Ar3:d>#"%/1)/78:&m8%;%)F":&/W":C &/)+()&)G~#&m()":x4?'&tf#M$#7"%O+35m,.
1"W"5w)1@+"]>#"A"5WCu"%p3]&#8%>7.71)3:>M+":+3:>A":178Wd$w35+ ()":&/$(*a3:j3:()()+3:d>#
"%5G
k"!"5M78f35U+)&W53:/7"%$&."%1)#8%&h"%]?'78:MU3:>7&/"f()":()>#$1]+35N3:Ei":178
,."%$>711"pn/$&J3:&v,.)>7>%3:& 3:E]":)G ] #)(w":C!!71()a3:8%3:7&v+7&v&r35)?')J7&z435Vh
G
3:&.&"0,NO76&)(*+#"% 8AG Ah!&"%?'m"%/1)/78:&.E!7>71B#()":?6/)&#d>7N+cK!+&3:1B+M$&U&/"%$>#1
IH
JHLKAg"%&/&7d>7P"%1#8%&)h
dg]3V%"%#1)1zGbaZ$/+)?'"%/:hMCu"%-3I+*K!.,N#+ &+)())&h+W35
d$T"%>;EW3N&?63:>7>5Cu+3:(*+7":I"5C+"%&.3:a3:(*+$435>7>#Et53:>7#1I":178%&)G ]w,U3VE+"N53:>7#1435+T+#&
()>73:7?
,-"%$>71dgq"B)M$?')35+3:>7>kg"%&&/7d>#q":178%&t"5C 3B&#8%>#*K!3:153:>#$435
V35(r6"%":CL)?<G ~#& ,-":$>71jdg1"3:d>#UCu"%p:)/Ej&/?B35>7>A*K!+& D3W*K!a":C$8m&))()&U435&
6
L"%&/&#d>7]":178%& d$N":-Cu"%.*K!+&N":CJ3f/V3:&/"%43:d>#]& )5G
53:>7#1435-"%$p()>|357?
?6":mCu)3:&#d>7P,U3VEB"
7&p"W8% ?f$>#+#>7a"%/1)/78%&p":CZ+&3:?6U*K!wCu":?
3]>|358%.!$?fdLw":C
:
&$d!n/)(*+&)G a N3:&
5:)1j&/$d!n/)(*+&w+"W":1 "%-*K! ":CZ78%w&/)+()&)G ~)/7&w3t?B3 KA#?f$?
":C 6 h
# 6
g"%&/&7d>7f"%/1)/78:&mCu"%m)&/'&/)+()&)G a
"%>;Ei"%dAr3:#)1
1"!)&I":q8%"0,
#>7 8 6 &/$d!n/(+&435/+#()#435+1vhz,.
$ $I":178%&)h4&/"0,N78j+43 +IM$?fdg)N":Cp3:()()+3:d>7"%/1)/78:&
3:&CD3:&f3:&+BM$?fdg)I":C435/+#()#43:+&G a '(V35=()":()>#$16435q"%>;E 3
&?63:>#>ZCu3:(7"%6":C 3:>#>Lg"%&/&7d>7P"%1#8%&-"5Cv+m7Cu"%/?B3 +7":'#i3q*K!("%r3:#&-"%/1)/78:&
+35N1)t3@)3:143:d>#]+cKA)G
&('DX '
>A. 5P\Z3 \
~&*%+3:>J3:>;+)/435#%m"%1#8%&U/"A1$()1<Cu"%N3f&/78:>7]&/$?6?63:Ei*KA#d#U()"%?'?6":43:>7 }
+#)&G a "5+7()1435)hL,N#7O+f?f$>;+7>7W"%/1)/78%&t":C 3B&/)hz&":?6q&))()&3:>;,U3VE!&
3:gV35 +"%8%*+)G ~E@1""5a3:gV3:w#f+&3:?6":1 Cu"%?
d$NEO&/43:q3:l3:1 n3:()(*E<)>735+#"%vGba4":?
"0,
"%"%/1)/78]"q35":+))h
"%zhZ,.ICu+"j+?
3:&Nd>7"!(H5M&)G(a4"%
V35(rs&)h ,-B71M#CSE9d>#"A(H5M&fdE=3:$+":?B357()3:>7>;E(>7$&+)/78&))()&'3:()/"%&&"%1#8%&)G
a W$&3:&N3f17&/+3:(W?6*+#(]dg,.))O,."6&/)+()&)h4+3V:)+358%!$?fdL":CJ&M)()&
+35&/)435+35')?
,.)) &/)+()&
fh
I
"0%f3:>#>w"%1#8%&)G ap#8%$ 8AG;:h Cu"%I7&r3:(:hJ+'17&r3:()'dLc}
351
`351 4&/)+()&
#&FAGm~fd>#"A(H5M&]#1)+;x4)1dMEl()>#$&/)/78o35 N&/)+()&Bmh
3:1 4&/)+()&
R3:1Xa Z3:1O&M)()&W{ 3:1 q
G
a o"%d&/)%)1b+35@3:>#>aod>#"A(H5M&f#=+B*KAL#?6Mf()"%/)&/L":1s+"F()>#$&/)/&f":C
+":7()3:>7>;EF>|35)1 &/)+()&)G ~)&/od>7"!(H5M&Cu"%/?
$#&":C*K!@1)3:>7#8l,N;+9+i&3:?'
&$d!n/)(*VG "5+q,."%1&hw3:>#> 53:>#719"%1)#8%&I()"%+3:7Hd>7"!(H5M&":C"%7()3:>7>;E/)>|3 +)1H&A}
+()&)Gt~"5+7":":Cw8:"%$78j+"%7(V35>7>#EB>|35)1&/)+()&7& 5!"Q,N3:&m("%)&/7"%zG
1*x4)19dE t3:&+35vh
&
:, e *hv("%)&/7"% #&3i1!7(@Cu"% //>#745M78B+"%8:+) 1O1;yzM3:/&
":Ca+@*K!VG !+$17&I&/"0,`435+j>#%>w":C.()"%&#"%H3:&I3O17(I7?'43:(*W"%9)3:178
()":?6/)&#"% m3:>#>77130Eo3:1 t3:&+3:zh
: 6*GP~)/Cu"%/:hv8%"!"!1"%/1)/78%&t3:/f()"%)&;%
8 6
+7&P7&m3:/t":Cw,N435m?B3%5:)&P+q&$?'?63:/E<)3:143:d>7:G -"%:)&/)>;E%hv+53:>#$4357"%<":Cw+
3:>78:"%;+?
&"0,.)1s+43 +B&$?6?63:#)&W+35,.)/In/$18%1 753:>#719()"%r357 35d$A
&/,N;+(r&m":CT+"%7(:G ":)N,."%1&hL":178%&+435t3:/q":P()"%&;%f35I8%+3:1)1<L"!"%>;E%G
;
~#&P3'("%/)>|3 +7":<dg,.)+ $43:>##Ei"5C +I"%/1)/78'3:1l()"%)&#"%vG ()"%/L"%35/}
786+()":)&/7"%("%&++357]#M"B"%$m"%/1)/786&/+35+8:EldMEl"%g"%+$#&/7(V35>7>#EB8%":$78
&+)())&N+":8%)-,."%$>#1idg]dLx()|35> Gb-"%)&#"%o7&U3:(r7*%1<dE6&$CD3:()W1!7()&)h&$(r
3:&L*+;+7":F":C.,."%/1&I3:19()"%/Cu)/)()&G a '1)&(#dLjcKAI"0,
7o `3:>78:"%;+?
c
QGA
,-'7(>7$1@()"%&#"%
d43:&/)1l"%o+&I&$CD3:()WCuV3 +$/)&)G
LV[GKBR
A%I OAHE
L
JKMBCN@POQSR
]7&4$()#)&U357&/t#6m"%$A+$-":Cv=
3:>#8%"%;+?
,N)i"%7(&-35m17&/#d$+1B"0%
+',N":>7j+*K!)hT!7"%>735+#8o()":)&/7"%H"%g)+#)&"l( -"QEH3:1 -8h
:(: *G
E!#(V3:>
&()4357" #&@7>7>#$&/+35)1 # ap78:$ 8!G 76 G ~O7$+&j3:/i+cKA&`T$W*h TY0h TdXD"%/1)/)1edME
W*hVYO3:1 d<dg)>#"%8=" +F&3:?'+?65hP,N"%&F#M)/&)(*+#"%
&+)()7&qh3:1o&7?'7>73:>;EfCu"% 3:1 jGw~]+?6& 3:1
35m"%7()3:>7>;E@>|35)1vh
d$ 7&]"5)>735+1vG !$?6?63:E$
W*hkd435&)1 "%>#E":9(r"%":>7"%8%#(V3:>J()>#$)&hk()"%+3:7&],."
+":7()3:> &;CS+& ZCu":? +" 351d43:(H5oCu/"%? "B
G dL*+m&/$?6?63:Eo,-"%$>71dg^ Y0h
,N#(r 55))& 3:1
+"%8%*+)G
$d>77()35+#"%7?' cG
&(' &(',+
A<
?@
0213*4 W
_
]$P8%"3:>k#&N"B/)?'"Q:1#& 4$)(7)&NCu":?
+I&$?'?63:/EOdEO8%/"%$#8'"%8%*+P"%7()3:>7>;E
>|35)1s+)?')&)Gb~<?63:7 )(r#(V3:>1 '()$>;Es7s#()":g"%+3578F("%&7":e#b"%$j"%}
178B3:>#8%"%/#+?
#&U+"'71M#CSEO351<"68:"%$O+":7()3:>7>;EB/)>|3 +)1O+)?')&t3:()/"%&&N?f$>;+#>7
8
T1
T2
T3
S1
S2
A1
...
C1
C2
...
A2
B2
A3
B3
...
C3
A
A
C
B
B
C
#& >#/ ( =^W =ZY/=;d<A;( ; ; <A%$4! ‚vF# #)&#A{ ')2<|{My"!#$%&#'
W- Yv
# #' F4& /4! ' " ;ZY"5
ap#8%$ 8AG 76 u ;
<|{
.
1"!()$?')&)G '":+w,-"%/1&)h!8%;%)j,."q+)?')&)h,.t))1'+"I1)/?6#N#CZ+*EjdL>7"%8"
+m&+35?6t()"%&#"%id>#"A(H5ZG a4"%-3q&#8%>#t1"!()$?6M)hA"%7()3:>Z&8%?6r357"% t)3:&Vh
:: ()":$>71Fdg@$&19"o71+#CSEld>#"A(H5M&)hkd$W+#&m+(r $'#&W":3ig"%&/&7d7>7;EOCu"%]71)+;CSEM}
78f()"%)&#"%odg,.))<&+)())&P3:("%&/&?f$>;+7>7N1"!()$?')+&G>A)8%?')+35+#"%o3:>#8%"%;+?'&
E!7()3:>7>;Eo*KA>#"%#I>77V3:N&/$(*+$/":C 3:#$N*K! g7<"%$P(V3:&/:hZ,-I,U35Mt+"'8%":$
+":8%)N&+)())&tdL>7"%8%78f"j1#yL)/)N+*K!&)G
]$P&":>7$7"%<()"%&7&+&t":C +ICu"%>#>7"0,N78@&/+&)G 3'"!()&&/78i&r3:8::hZ,-q&)8 }
?') )3:(r@7$T*K! I35vhW>|3V53:&h%3:1 l(W"Q,Nzh
::,ekd43:&/)1f"%q,-"%/1@17&+/7d$7"%
3:1H()"%/Cu)()i3543:>#E!&/7&)hJ&"<+43 q8:#%H,."&/)+()&f,N#+7F+6&+3:?'@+cKA)hT,.B()3:
1*+)/?6#];Ck+*Eo3:/]+"%#(V3:>#>#Ej/)>|3 +)1zG
()"%+3:7&a&+)())&=
W 6*h!3:1
&/&$?'],-43V:],-"@+)?')&
()"%r357& &+)())& W +)?'I#&N3@&t":CT&M)()&]("%%*EA#8B&/7?'7>73:.#Cu"%/?B357"%B1+3V,NOCu"%?
3:1 6h,N)/
* *G N)()3:>7>435.3
1#yL)/)P7$A
`+"@dgm+m!$?fdLU":C 4357&.":CJ&M)()&D $
a,N7(rO3:gV35
76+t&+3:?'m+cK!Vh351 l"fdgm+m!$?fdL-":C &/)+()4357&a,N7(rO35L)3:-#B+
+cK!+&)G a ]1":+
&+35?6]*K!]351<3:7o&+3:?'W&8%?6VG
2x4/&/B&/r358%:hCu"%6V3:(r
4357'":CW+?6&
351 BhU,.F()"%?'$l35+#"
"=?'V3:&/$O+l/)>|3 +)1)&/&6":Cm,-"9+?6&)G2~#&6?'V35&$/<+3(5:&B7"
8
3:(()"%$dL": g"%&;+#:B351=835#%6!71)(:G
CN?'"%&":C-+6&))()&j7
3:1
+35t3:gV3:+":8%)P7o+q&3:?6W*K!+&m3:I3:>#&"j7O+I&+35?6&8%?')+&hL;N?6)3:&+43 3:1
E
3:/78:>#EI+"%7(V35>7>#E/)>735+1vG j+#& (V35&:h+357"]#& ()>#"%&U"
43:1vh4#CT3:?'"%8fW+*K!&P("%r3:#78@&))()&tCu/"%?
+W&+3:?'W&8%?6+&)h)
()>#"%&" 6 G 3:1
3:1
G ]@+"5+
3:1 6h4"%>#Ei3fCu,
3:/W":"%7()3:>7>;E')>735+1vG
3:7/&3:#
(()"%/178%>#E:hA+W+357"f#&
35N()"%&71)16/)>735+16;Cg7& 35+#"W7&w#8%) 43:63I)1+?'71
+)&/"%>#1vG a 1*+)/?6#)1OcKg)/7?')r35>7>#E6#&U53:>7$]"jdL 6 G G
~7&W&/+35)8:E1x)&43:#/,N#&f/)>|3 +7":&mdg,.)9)?')&G
+3:&/##%()>7":&$/
":CJ+#&N)>735+#"%id$7>71&8%"%$&N":C /)>|3 +)1o)?')&P3:1zhZ3:&P3j/)&/$>#)h4)&/$&t+35+?6&
+35i1"=":o35L)3:6"%8%*+B723:E23:+#()>7Od$Ai,N7(r23:ldL":2>|35)1 "s3H7/1
+)?'j,N#>7>T&/+#>7>TdLj>7#45:1vG@~#&I()35+&q35H*%)H78:)W18%j":CU/)>|3 +)1)&/&q35?6"%8
+)?')&)G -)()3:$&/l,.l$&/3F+)&/"%>#1+"9)&r3:d>77&/3:7,N7&o/)>735+#"%&)h +O+3:&##:
()>#"%&$m1"A&-":./"A1$()m>7"%835+1B(r4357&a+435-()"%$>71B>#745q+"%8%*+-$)>735+16)?')&G
a j3:@"0,
3:d>7f"o71+#CSEl+"%7(V35>7>#EO/)>735+1 )?')&G
W+@19":C.fx4/&/I&/+3:8%:h
+EO3:/8%"%$L1l#M"jd>7"!(H5M&)G
239&/)()":1
&/+3:8%:h.,-3:&&/78%397?'<&r3:?'b+"=)3:(r2d>#"A(H5=":CW>|35)1b+?6&
$&/78@+WV3:/>77&/U7?']&/+3:?'<"5CJW+?6&#N("%r3:#&)G a 3:143:A+ G 35>78%"%/#?
1&()/7dg)12# 8AG AG F+" ,-"%
5e35j+<>7*%)>N":Cm+<d>7"!(H5M&)G2~ld>#"A(H5M&63:1e+O+?6&
()":&g"%1"h4&g)(*+#:)>;E%hL)?')&t3:1l&M)()&W#< ,.(V3:
)3:&#>#Eb&/"0,
435BF3:13:+1
3:>#8%"%;+?
35>78%"%/#?lG .E<3543:>7":8:E%h
"!1$()&O3=("%?6>7l":1i":CW+
d>#"A(H5M&)G~7&@E!7>71&'3 ?B35()" }"%/1)/78F":CP+l&/$?6?63:E%G a O&/7>#>U)1"H"%/1)j+
+)?')&N7&/71W)3:(rd>7"!(H5gG
+l>|3:&6&r3:8:":C]35$8%?')+123:>#8%"%;+?<hwCu"%'V3:(r2d>7"!(H5ghU,.":16+
+)?')&'#j()":M+3:7&'dE3:>#E!78FX
3:>78%":#?
+" +?lG9ap78:$ 8AG 6 &"0,N&B3:
8
*K3:?'>#W":C 3@&/$?6?63:Ei/"A1$())1ldEi+I3:$8%?6+)1l3:>#8%"%;+?<G
~7&t3:>78%":#?
)&/$&t435P()"%)&;%>#EO>|35)1O+?6&,N7>7>z":PdL&/)3:1"0%
+'*K!f351H1)()/V3:&/)&jM$?fdg)I":C3:d$I&,N#+(r)&"5C-+":7(&)Gap78%$ 8AG 6 &"0,N&
"0,+
$8%?')+1l35>78%"%/#?
7?'"0:)&U+]&M)(q":1()"%?'43:/)1i,N#i+W":1
7<+q&$?'?63:/Eo"!1$()1FdE<`
"'()73:>7&U3:"0,
3:>#8%"%/#+?
7]ap78:$08AG;, g&))()& $":+#8 8:"%$g)1O+":8%)hZ3:1O&"63:W1)&/()#+#"%&":CJ+I?'"%$/78G
AX
+/7/Q 3AQ
G H6 ")" @H *3-' M7 A7|A*[="< !H"89"
6X7]-H
"8:AG -7 !+M")"€%!+7 9"TK SK ‚8 % 73-
F3
|K 73-
ˆ7;6 !
f"< G+
-T*A
B7 !? @A[M"8 03hmQQ+G 5#*'[ '"87
K
|
[‚| 8 73" <
c7 |RY3 f79" 7B | !@"8 H")"€3R‚
b7 H"8 7 H9"< GlG
"5G ! KTK SK[ 3=
GYQ7;+ 33"9[6 ! D03ƒmQ Q+G 1 "8 H7 !+3K
CP 3Z ",ˆG "9A*<7 YRˆs): " 67 8"< *%7"8 %6 A%J :9"9[|O[ .6;-3"87 !"8"/ J !A"
A"/+M.A
"8]-1
("8 #%[$G tKPpNGlO !3"TX7 ("8"/"8 (*A
$ [email protected]"< 33K
ap#8%$ 8!G 6 &$?'?B35/E]"!1$()1$&/78
3:/I8:"%$g)1O#M"j43:+358%+3:&)G
&(' &('
. [A.
$8%?'))1f35>78%"%/#?lG P>|35)1&M)()&
4Z3?02>
a4"%>7>#"0,N78B'&+3:?'j?6*+"!1"%>#"%8:El$&1H+"<53:>#$435j
,.@3:& 55)1F+Pn/$18%&]+"i8:+3:1 86&/$?6?63:/7)&P/"A1$())1 dE<+
3:1H+"
35>78%"%/#?6&h
$8%?')+1 3:>78:"%;+?<G
N)&$>#+&P3:/W&"0,Nl7 ap78:$ 8AG AG
~<?63:M$43:>.yL"%/f)1)1b+"F("%?63:O3:1ln/$18%o&EA&+?
"%$$j7&*K!+&;%
()":&#1)/78+43 -)3:(riM$?63:Wn/$18%P43:16"/V3:1'+/)P&$?'?B357&wCu"% V3:(ri#$a&/35&
,.)>7>v3:&& 5M7?
+#$U*K!+&"f%)/#CSEi435"'?'7&/>7)3:1787ACu"%?635+#"%6,-3:&N7"!1$()1
7'+t&$?'?63:#)&)G a t()"%>#>7)(*+1i3("%$&U":C 8I&&U":C 35/+#()>#)& Cu"%.*53:>7$43 +7":vG m%+3:>#> h
+)W,.)/ 8f&/$?6?63:/7)&.+"jdL*:35>7$435)1vGw~q&/ )W"5Cp"%$P("%$&N7&()":?6435+3:d>#m,N#
8
+U()"%>#>7(+#"%$&)1@Cu"%T+
V 53:>7$35+#"% 6 &*+& ":Cg3:+#()>7& cGT~#& 53:>#$4357"%q&"0,N&
+`
3i&#8%;x4(V3:W#?6"0%?6M]7 $43:>7;E"5Ca@"%/1)/78%&tCu"%?
+
3:>#8%"%;+?
"
$8%?'))1'3:>78:"%;+?<Gk~T"35&&&& +-&78:#x4()3:(":C4+#?6"0%?6M)h%,-$&)1j+
ap#&]*K3:(*W+)&Vhk("%Z3578
"!"%W3:1 aZ3:#m&/$?6?63:/7)&t7+"B"%@(V3 +)8:"%/EDA} 53:>7$q":C
6 G 6 c Gw~I3:$8%?')+1<3:>78%":#?
3:>7&/"@&"0,N&t3:O7?'"0:)?')"0%N 35>78%"%/#?
D!} 53:>7$W":C 6 G 6 *G
3Qn/":#E]178
-/"%"%>#"%8%7()3:>^W/1)/78
$8%?6+)1]]1#8
"!"%
"6
aZ3:#
,
"!"A1
,
,
ap#8%$ 8AG <|{@<A)& *6<#'w <+x/ %Xvry%!<$%&#'})< <)&#A{ ')2<|{Uy%!#$"&#'< &<! #
u #' ;F4& /4! y%!<$%&#'#5
A]J> O A%E
MBC
ap#178o3:93:()()+3:d>#@"%1#8o43:&":]dL)9&/+$1719dgCu":@7 1":?B3:#71)g)1)
L
+cK!U&$?6?63: V357"%zG i&/78:>7P1"A($?')U&/$?6?63:/ V3 +7":vh%&$?6?63:/Ej&/)+()&P3:PEA!}
7()3:>7>;Eq3:3:8%1'#f+&3:?'"%1 +43 w+*Ef,-Cu"%$1'#f+Cu$>#>1"!()$?6M)hM3:>#"%$8:
#8h
.
:(:,et/)g"%/&435M$?63: &$?'?63: ))/&W1"O&"%?'7?')&W(r4358%@+j"%/78%#43:>J"%}
1)G B?$>#;}1"A($?6w&$?'?63: V357"%vh5+P&$?'?63:/E@("%&/7&/&."5CzCu+358%?6+&a":Cz*K!-":
&+)())&U435 ,.)t&>7)(*+1BCu"%?
1#yL).*K!+&Gw~!$&)hA)/m#&a"()":?6>#P":178
":CT&$?'?63:/EB&))()&m435N(V35ldgWCu"%$1O7o"%#8%7435>L1"!()$?6M&)G
O1":?B3:#B1L1MN&/$?'?B3:/ )35+#"%vhM#.7&.L"%&/&#d>7m"f)&r3:d>77&/ig"%&&/7d>#m"%/1) }
78%&
SG
53:>#71 "%/1)/78O7&W+3:1;+#"%43:>#>#E<1)/#:)1HCu/"%?
3<?B3:M$435> 3:43:>;EA&/7&W":CU3
()":$&":Ca+cK!+&7F+'1"%?B357vhz3:19#]E!#(V3:>#>#El"%L+35)&"0%q3o&/I":C.&)?63:+#(@()"%!}
8(8
()+&G
&?B35M7(f/)/)&/)r357"%9":C +@7Cu"%/?B3 +7":7&m$&$435>7>#E3V53:7>73:d>7q3:&W#$]"
+W"%1#8f()":?6g"%M)G aZ":-7&/r35()5h7iW&g)(#x4(W1":?B3:#i":CJ*,N&"%o+]"%7(t":C
+/"%#&/q35+3:(H5M&)hT&$?'?B357&W(V3:HdL'()":&/$(*+)1=dME x4/&/q1)&/()/7d#8<'>|3:(j":CU+
35/r3:(H5ZhCu"%>#>7"0,-1OdMEB+M$?fdg)N":CT(V3:&/$43:>;+7&)h,N"@L"%&/&#d>7Wg)/L*++3 +"%/&t35:h4*+(5G
":)P3:>;+)/435#%t,N)<"%1)#8@7ACu"%?635+#"%vhM&/7>#>L#OW1"%?63:#i1)g)1)
Cu+35?6*,-"%
5Zh 7&+"$&o3?'"%/6143 r31/#:)s3:"35(rvh ,N7(r="!1$()&@3?'"%/ 4cKA7d>#
"%$$)G
1x41O&7?'>#P":178&/+35)8%#)&-3:t()"%?fd71B+"%8:+)-dE6>7"!"5M78
353&*f":C-CuV35$&Cu"%?
B#$)G {w>7435143:1 351 l( "0,Nvh
66c $&/B&/$(r
+(rA}
$)&U+"@"!1$()W35+#)&g)(#x4(W&/$?'?B3:/7&U":Ck+(r#(V3:>v?')17(V35>v3:+7(>7&)Gw{pK3:?'>7&
":C.CuV35$&I,N#(r=#4$()'+'"%1)#8<3:'/)&()B":CU("%++3517(*+7":9":I/)g#+#"%vh
>7*:35()'+"lB35+#)(r3:+3:(*+7&+#()&)hT"%EAgi":C-&$>;+&dg)#8/)g"%/)1vG
>77V3:
()":?fd735+#"%F":Ca+&jCuV35$&3:&/&#8%&I3O,.)#8%+"OV3:(rH&?B3:7(j17()35+@"<dgj7A}
()>#$11 7sl":$+$AVh3:>#>7"0,N78+?
+"9dLO"%/1)/)1vG e+#&j(V3:&/:h-<Cu)35+$)&63:/
1"%?63:#F1)g)1)f351 43V%'dL)971M#x419":$8% ()"%/$&I3:435>#E!&#&3:1 7+/!7*,N&
=
,N#E!&#()|35&)G l+f()3:&":Ca361":?B3:##1)g)1)W&EA&+?lhv;t,."%$>#1dg@3:M7/
*,
(r43:>#>7)8%]+"j1*x4q3:1O()"%?'$&$(r3j&/P":CTCuV35$&)G
/"A1$()78F38%"!"A1H"%1)#8"5CN7Cu"%/?B3 +7":F7&f35>7&"3()/#7(V35> +3:& 5FCu"%I+68%)!}
)35+#"%e()"%?'?f$;E%ha,N7(r43:&'*K!+&;%)>;E #%)&+#835+1l#&&/$l(W"Q,Nzh
l"!"%P3:1
3:#&)h
8 P"0!E:h ::8 <-":$43VE3:1A}
::
8%3h
:,8
666 l"A":E:h
"0,-)hA3:1 A()":/Vh
U3:/dL/E:hz351Gl( -"0E%h
:: 6 cG_]q3:/"3:(r#&+"%A} 1"0,Nvhg$&#86&/(r)?63:& l( "0,Nvh
:,86"%j>|35&X W
3:>#:h
:: 6q"H1+?'7ol":83: V3 +7":43:>-&+/$($l":CtO+*K!)G
#
~#&N3:/"3:(r<L"%&+$>735+&N3@*+"%/7(V35>v&/$(*+$/,N7(r<(V3:OdgI$&)1O+"j&/)>7(P7ACu"%?63 }
+#"%jCu"%?
(V35
3:6$1>#E!#8 5M"0,N>718%]d3:&5G -)()3:$&t+t1"%?63:7'7&a>7#?6;+)1zh3:B()"!1#8
dL1%>7"%g)1
":C 5M71&i":CI":L"%&/#7"%435>P("%+Mo435o?635(r2*+"%/7()3:>m>7*}
8
?')+&f"5CU+B&(r?B3"%I>73:vhp)/)dEs3:>#>7"0,N78<("%+M@"dgi&>7(+1b3:1 ":1)1zG
N"%#(V3:>!+/$($W~"%/E A~ -3:>#>7"0,N&-Cu"%U?'"%/ 4cK#d7>##E'7o":178f()"%)PdME
)&r3:d>77&/78i>|357"%&mdL*,-)943:7/&W":Ca":L"%&/#7"%&G -"%&/+3:#+&Wd43:&/)19"% 7++7":
<"A"%/f3:1
."%$43VE3:1!}
8:43h
3:/7&)h
8
:: e*hL"%m&EA>#7&+7(q()"%&/+3:7&
L 666 m3:@$&)1H3:&W/)("%1;+7":&W"%F+@>|3:
"0,.)hp3:1 !()":/Vh
)35+":&j()"%+3:7#8 A~
/)>735+#"%&"91+?'7o,N 3F/)>|3 +7":s7&@$&/)13:1e"0,
7&'"%/1)/)12,N#2&g)(*i+" "5+B>|357"%&)G
3:1 <( -"0E%h
:: 6*hg>|3:!}>7 5:I()"%:)+#"%& P"0!E:h
"%A}
#
l"!"%E:h U3:dg)//E:h
"5+i3:"3:(r
:: 6 #&fdL"5+":?j} $ 3:1s7&$&)1s"F8%"%$ +"%8%*+f&/*+(r&'"5C+*K!j#
3>7":8hp8:)+35)1b1"!()$?')@dE=x178":L"%&/#7"%&+35j3:/i>|35)1 dEs3l()"%?'?6":
Cu"!()$&G A#()i7&f3:/"3:(rs,U35&@1:)>7":L1bCu":@38%))+3 +7":s&/E!&/)?<h.;x41&@)>735+1
/"%L":&#7"%&mdE("%?63:#&"%&t":Ca":L"%&/#7"%3:8%$?6M&W35]@&?B35M7(f>#:)> G F"%$
(V35&:hA,-W35m1V3:>#78I,N#+i3&$CD3:()m))&/)r3 +7":vh&"f,.mx41O3:>#)35+;%P?6*+"!1&.Cu":
8%/"%$#8f+cKAPCu+358%?6+&)G
; 66c
<"%O()M63:"35(r)&] ]
$dg"%$O3519l(W)"0,Nvh
66 6 3:$"%?B3 +7()3:>7>;E)&+7?635P("%&++357+&
3:e3:19l( "0,Nvh
"%'7Cu":?635+#"%f"%/1)/787j>#7?'#+1f1"%?63:#&)h
35]@()":M)>73:#8i&/+3:8%5G P&78o3i()"%>#>7(+#"%":C &/)?63:+#(V3:>#>#EOr3:8:8%)1+3:&/()/7&
,N;) dE 1"%?63:7cKAL/+&h( ]
$dg"%$'3:1 l( "0,Nvh
66c m#1)+;CSEd3:&#(6351 n3:()(E
435/+&6()"%r3571,N#73 >|3:zh3:&j,->7>P3:&j+7'"%1#8G
I35 3:1 l( "0,Nvh
66 6'35>7#)&"3Qn/"%/#E9]1)#8="=&?B35M7(<r3:8%&'7d7d>77":8%+3:ME
)+/7)&B7 ":1
+"<>7)3:9"%/1)/78<7 +#&q1"%?B357vG" 8%)35+&q&/$?6?63:/7)&":C-,N&"%=35ME
+":7(5G s&$(re3:s$()"%&+3:71b1"%?63:7vhT#q,-"%$>71sdgi7?'L":&&#d>7@"F)M$?')+3 +i+
&?B35M7(&'Cu"%63:>#>L"%&/&#d>7oE!L&B":C]&))()&i,N#(r ()":$>71?B35(rl>7?6M&B":C]3
&(r)?63hU3F>73:b"%@*+"%/7()3:>U>|357"%&)G a4"%f#&/+3:()5h ]
$dg"%$O351<(W)"0,N d$7>#1
0
+)7 ("%+).>|35) d435&)16"%i3&*a":C (:&?B35M7(N(V3 +)8:"%#)& !7j"%$a()3:&5h!)/t#& "
8
&$(ri8%$>|35#E7j+N#$a7ACu"%?635+#"%vG$a4$/)/?6"::hM;w,-"%$>71'dLP1 '($># +"I&g)(#CSE
3=8%)/7(/"%#(V3:>P>73: Cu"%B3=&$?'?63:/Ee":CI*,N&)G
&/V3:1zht("%+)O1*+?'74357"%
7#&q"%L"%+$7&/7(5hT1L1#8"%9+ 5!#1&I":C&/7?'7>|35#7&t+353:g)
+"l*KA7&@dg,.))b3l&":CN*,N&f1"!()$?')+&GA#?6#>|3:/>#E:hz,-B1)&/()#dL6)/o3: ":178
&(r)?'-+43 w7&J"%g"%/$#&/+#(-351@dL"5+":?j} $vh 1)g)178]":f+.()"%&#"%j3:1)?'L":+3:>
()":)(*+#"%&+43 t3:g)O+"j*KA7&PdL*,-)&/)>#)()1<+*K!)G
]$a"%/1)/78()":?6g"%M +3(5:&->73:()P35CS)w+P()":M).&)>#)(*+7":6":CL+P7ACu"%?63 }
+#"%# 3B7g)>#73:(r#+($5hk7("%++35&/W+"o8:)+357"%&E!&/+?6&hk,N)/@$&$435>7>#E<+
"%/1)/783:1i+m()":M)N&>7(+#"%B("%?'m76r3:1)?<G ~7&.&43:+3 +7":i?6#8%-("%?'m35U3
()":&/
;CL)/t#& "q8:"A"!16":178"IP8%#:)'*K!+3:()1i#Cu"%?6357"%vh5#a7& "5.g"%&/&;}
0
d>#U+"8%"d43:(H5f"N()"%)-&/)>#)(7"%@"IcK!++35(., 7Cu"%/?B3 +7":vG 6&/$?6?63:/ V3 +7":vh
()":M)'&>7)(*+#"%s7&f1#:)bdEs&+35>77()B();+|3AG a odg)>7#:i+435+o&3:?6o":178
&/+35)8:Ei&"%$>71O,-"%
5i,N#<1#yL)t("%+Mt&>7(+":&)h4#1L1)>#EO":CJ+7&3:>7#)(
()/#)73Gp~)*Cu"%5hA,.m(r"!"%&/t+" 5:)iP,."f("%?6g"%+&)h!&>7(+#"%i351B"%/1)/78hA35&
,."6&/)43:35+I?'"A1$>7)&G
S_tJ[STST
\[[
H7&I(r43:A+),.B7:)&/783 +)1H7Cu":?635+#"%F"%1)#8<()"%&+3:7+&I79?f$>;+ }1"!()$?')
&$?6?63: V357"%O#l+f,N&m8%)/:G a *53:>7$43 +)1l,-"o35>#+43 +#:"%/1)/786&/+35)8%#)&)h
-/"%"%>#"%8%7()3:>b]1)#8 3:1 3Qn/"%/#E ]1)#8 *G!]$*KAg)/7?')+&I&"0,
+35D
g)/Cu":?'&,.)>#>w"%>;E,N)=3:>7>w#$W*K!+&ICu"%>7>#"0,
&/7?'7>73:m"%/83: V357"%F"5C-+
7ACu"%?635+#"%vG I+.1"%?63:7&v,N)/.+7&J()"%&+3:7J"%>#1&)h6e,."%$>71qdL.3:3:/"%735+
3:1'#8%>#EqyL)(*+;%P&/+35+8:E%G -$a7fN,N&a8%),-P(V35":a?63(5:U7& 3:&/&$?'7"% 8%,
+M$&P#U7&":t3:<3:"%|3 +W&":>7$7"%vG
~(-/"%"%>#"%8%#(V3:>6W/1)/78D
k3:>#8%"%;+?
()3:q"0!71a3:q3:()()+3:d>#a&/"%>7$A+7":
Cu"%U?63:Ei()3:&&)hZd$N#&":N&/$'()7P,N)<&$?'?B357&U()":M+3:7o#Cu"%/?B357"%'+43 N7&U"5
:)wd435&)1zGb]$pcKg)/7?')+&h:$&/78m3m()":$&J+43 T,.U()":>7>7()1"5C4?f$>;+7>7 3:>;+)/435#%
&$?6?63:#)&JV3:(rj":CZ?$>#7>#a1"A($?6+&)h&/"0,435p()"%&#"%@7&p3:f7?'g"%/+3:p("%&/+3:#
()":M#d$+#8s+"e"%1)#8G
l"%/)"0%)hW+E3:>#&"b&"0,
435l3:"%/|35F"%1)#8b":C
7ACu"%?635+#"%'7&U(#7()3:>g"j3:>7>#"0, Cu"%-)3:&/Eo("%?')&/7"%o"5CJW&$?6?63:/EB3:1i435;U#&
":Nq()3:&+35t3:>7>vg"%&/&7d>7"%1)#8%&N":Cp7Cu"%/?B3 +7":o3:I3:(()r3:d>7:G a I1*%)>#"%g)1
3:F"%g)35+#"%43:>J3:>#8%"%/#+?
+435]7+8%+35)&]("%&7": 3:&]43:]":C 3:>78%":#?<hL351
7?'>#)?')+1<;t3:&t3:/t":Cp`#$%H&$?'?63: V357"%o&EA&+?lG ]$N53:>#$435+#"%O":C
+I&E!&/+?
&"0,N&P&78:#x4()3:N7?'"0:)?')N7O&$?6?63:/E $43:>7;E%G
7>77+7&m)&/7&],.jCu"!()$&)1 "%93:$8%?6+78B+ a
+35 3:>78:"%;+?<h4,-jdg)>7#:
7&w3]/"%?'7&#8m&+35+8:E@3:1'&/"%$>#1@":wdg8%>7(+1vG #& ()>#V3:p435w1#yL)
Cu"%/?6&":Cp&$?'?63: V357"%o35I$&*Cu$> 7O1#yL)/)t&#$4357"%&h1L1786"%<+#M)1)1
$/L":&":C +&/$?6?63:Ei3:1<":O]E!L&N":Cp1"A($?6+&&$?6?63: )1vGba4"%U"%$UCu$A+$/
,."% 5Zh,->|3:e+" d$7>#1"%+3:/"3:(r2,.$&12Cu"%j+
+#"%& Amh
66c
Vmh
A
66 66 *:35>7$43 }
66 6chp,N)/i,-o1%>7"%g)1b3&/$?'?B3:/ )+435q,-":$>71s$&/
1;yz).3:>#8%"%;+?'& Cu"%w&$?'?63:/E8%)+357"%@1)g)1#8I"%@+E!LN":CL7$w+cK!VG a &$&g)(m+435t"%/1)/786&/+35+8%7&t?63VE<1#yL)P3:>#&"hZ1L178i"%lqE!gf":Cw&/$?'?B3:E%G
]$w,-": 5f,N7>#>Ax4/&/.7%&/7835,N) ,-P(V35B$&/P":$a3:$8%?')+1i3:>#8%"%/#+?
&$?6?63:/ElE!L&)G
C-'3:>78%":#?
Cu":a"5+
1"!)&":WE!7>71 8%"!"A1F":178%&)hv,.',N#>7>T7%&/+#835
+"%$8: ()"%/$&@3543:>#E!&/7&I":+&/$?6?63:E9E!gB&/L()#x(i()"%&/+3:7&)G a i&/$&g)(*f+43 "%$]3:$8%?')+193:>78%":#?
?B3VE3:>;E%hzCu":]7&r3:():hv"od7":8%+3:7()3:>T&/$?'?B3:/7&)hv&/7(
+7ACu"%?635+#"%OdL78B&$?'?B35 )1l7&t3B?6 K!+$/q":C *%M}d435&)1 #Cu"%?6357"%o+35]()3:
8%:
dg](r":"%>7":8%7()3:>7>;E@"%1)1O3:>7":8q,N;+o1&()/7#:]7Cu":?635+#"%B35dL"%$A-+]L&/"%vG
U#&
$(>7)3: ,N)a# (V3:63:>;E"I"5+ E!g)& ":CL&$?'?63:#)& &/$(ri3:& &/$?6?63:/7)&p":Cz1#yL)}
)m%+&)hk&/7(#)()&m"5Cw7Cu":?635+#"%O?B3VEO":mdLI+?6g"%+35>7>#EB>|35)1l"B)3:(rF":+))G
a 3:>#&"'>|35<"B71)+;CSEi+E!L&m":C &$?'?B357&,N7(r<,-"%$>71dg)xPCu"%?
35>78%"%/#?
":3:=35$8%?')+19:)&/7"%9":C-# S+j&+35?6@,-30EF
3:$8:?6M)1O,N#O()"%)&#"%<()"%&+3:7 cG
$&786+
3:>#8%"%;+?
.
,-3:&
~7&-(r3:+-("%()>#$1&-+P/)&r357"%i"5Ck"%$a&$?'?63: V357"%j&/+35)8:E:G B+
cKAP(r435+)h4,-I/)&]3:O"0%+3:>#>k&/E!&/)?
53:>#$4357"%vG
6
! # " % $ %& ' ) ( %& & +*-, /.
02143 3
65
~W*:35>7$4357"%6":CT3:
&/E!&/)?
71
8 :9 4;
#&3 5:*Eo43:U":CT3:EB)&/V3:/(rl":-1*%)>#"%?')NyL"%
3:16E%N;-#&-/"%d43:d>#Ej+t?6":&/U># 55)>#E@"@3:/"%$&m()"%+/"0%)/&/E:G Bmx4>71i"5CJ3:$+":?B357(
&$?6?63: V357"%zhA+)#&P"6("%&&$&]"%O,N435P7&P3j8%"A"!1o,U3VEO+"j*:35>7$435&$?'?B357&)h
d$)/W7&a,N713:8:)?6U+43 U+])(r $)&,N#(r<3:W("%?6?'"%>;Ej$&1<"A130EB3:/
'< 78@t3:> G;h>=7:(:,
/"%d>7?B3 +7(
?= A@
!43: 5 "%)&h 7::: 3:($351 dg))h
~I##)1i1 '()$>;EB"5CT&/$?'?B3:EB*53:>7$43 +7":B()":?6&UCu"%?
7&."f&/78%>#t/78%U3:&/,.).+"@3&/$?'?B3:/ )35+#"%'+3:& 5ZhA$>7 5:t7i":)
66 =RcG
+tCD3:(U435U)/
r3:&
5!&h&$(rl35&
43:/&#8G ]
;yz)Wg)":>7I+)1+"o43V%@1#yL)WL()7"%&m":C ,N435W#&m7?'g"%/+3:m#
3f8%;%)o*K!VhZ3:1o()"%&/ $M>#EoEi,N#>7>g"!1$(W1#yL)/)N&$?6?63:#)&.8%#:)o+W&3:?'
+cK!VG~M$&h.3l43:#:i()":?64357&/"%H,N#>7> ":&$'(i+"g)Cu"%?
53:>#$4357"% @;CN3&EA&+?
/"A1$())1O3q&$?'?B35/Ej,N7(ro#&.":71)+#(V3:>4+"q+ /71)3:> 1I"%]"!1$()1odEi3M$?63:vh
==
,.i&/7>7> 1"F": 5M"0,
,N)fo3:$A+"%?635+#(V3:>#>#El"!1$()1b&$?6?63:/E #&f38:"A"!1="%3
d43:1O"%:G ]
7/)(*N3:&&/)&/&?')P":C +W&/$?6?63:EBdEo3fM$?63:n/$18:]&$yL)/&Cu"%?
53:>#$435"% ?630E":0//># 55 1W3W&$?6?63:/Eqdg)(V35$&P#p1#yL)/& Cu"%?
/"%d>7?
<
+W&3:?'
7&w$1) }
=
&/+3:1#8o3:dg"%$m,N435]f&$?6?63:/E<&/"%$>#1F7(>7$15G=N)&)3:(r)& +A43:
5 "%)&)h "::: E 66 =Rm30:B358%$1H435+@53:/|3:d#>7;Eldg,.)
~J)$Cu> h
1$()1e#CNM$?63:ln/$18%& 5!"Q,
/"A1$())1H&$?'?63:#)&W(V35=dg
,N435@o&$?6?63:#)&3:BCu": a"%)h 7=":+f,-":1&h.#
I
,N#(r9+3:& 5F351H("%+cKAI+'&/$?'?B3:/7&m,N7>#> dL@$&)1zG P"Q,.:)hp&"OCD3:W>##>7q"%8:)&/&
43:&qdL) ?63:1'7H71+#CSE!#8O&$(r +3:& 5M&)G-A*%)3:>-("%?'?6"%>#EF$&/)1=+3:& 5M&f&/$(rb3:&I7A}
Cu"%/?B357"%j/+/7*:35>L351B(>|3:&/&#x(V357"%'1"":U35>7>7"0, "%t"/)>773:d>;Ef1#&/+#8%$#&'dL*,-)
+Ig)Cu"%?63:(W":CT1#yL)/)P&/E!&/)?'&)hZ&#()M$?63:&N(V3:O$&/$43:>#>#Ei("%?'>7*+]+)&r35& 5M&
71)g)1)+>;Eo":CJ+&/E!&+)?
"%$A+$ $43:>##E:G
7&+)&#&)h ,.i1"l":f"%g"%&i3l*,
*53:>7$43 +7":H&++3 +)85EH,N#(r (V35 "0%) }
()":?6mW>7#?6;r357"%&w":CJ*KA7&+78+(r $&)G &/V3:1zh,-$&/)1o,-"jcK#&/78@*:35>7$4357"%
&/+35)8%#)&w,N#(ri3:/N:)E61#yL).#')#w435$5hA":78W435a7j+#& (V3:&/ /,N"%>#
7&N8%/V35)+)l&$?
+;%O"%e&/E!&/)?
"5C #&N43:/& 1h4dg)()3:$&/V35(r?'+"A1O8%;%)&t3j1#yL)/)PL&g)(c}
g)Cu"%?63:(:Gb~Ox4&6":o,U3:& //#1V3:> }&/$?6?63:E&1d43:&1 *:35>7$4357"%
()":1$(*+)1<,N#7i ]
"A($?') t1)&r3:178-"%ACu)()
<
V*G ]
&;+W;+&>7#?6 }
r3 +7":&)h7&N("%?6?$#E} ,N71]*53:>7$43 +7":O3:>7>#"Q,N&$&P"'("%?'43:"%$&/E!&/)?
,N#l&r35
":Cg+N35/ &$?6?63: )&)GT~N&()"%1653:>#$435+#"%,-3:& L/Cu"%/?61j7@+("%+cKA.":Cz3W43:}
+#()$>73:]#Cu"%?6357"%F35()()&&r3:&
5Zhp3:#?6#8B"<1+?'7@,N*+q":W":+j&/$?6?63:/7)&
,.q/"A1$()>7O$&&N+"j '(7)>#EO3:(()&&m,N&)G
= 8
71
b"0!71)16Cu": Nx4&.7?'N3Cu3:?6*,-": 5Cu"%w
$435M#+35+;%N53:>#$435+#"%j":Cv?$>#;}
1"!()$?')&$?'?B35 )35+#"%F&/E!&+)?'&f"%=3l&r3:13:>7"%6d435&7&hp$()"%)()1 ,N;+=&/L();x4(
3:>77()35+#"%Or3:&
5!&G ]
#yL)/)]&/$?6?63:/ V3 +7":l35"%3:(r)&35("%?'43:1+"%$8:F();}
&#"%<3:1<(V3:>#>v?6)3:&$)&G
/[
!#"%$'&(.[)*
~'+ F?f$>;+ }1"!()$?')L&$?'?63: V357"%t53:>7$35+#"%]7:"%>#:)108(:1"!()$?') &*+&G { 3:(r
=
&*w()":M+3:7)1fdg,.)'x:3:1 78t,N&p1"A($?')+&h%,N#+f3:@3V%+3:8%"5C+@1"A($?')+&G
~i1"A($?6f&*+&,.)/i130,N Cu/"%?
+B~-,P{.
7"I":N":CzCu"%>7>#"Q,N#8mCu"%$ E!g)&
<=
g)#"A1
1/ ("%>7>#)(7"%&)hT3:1=)#()":M)+&qCD3:>7>
&/78%>#:)-#B35MEf1"%?63:7f+3:(H55)1i"0%.&/"%
0/
< 35m?6":&/m3B&*%)9143VE<,N71"0, < P&#8%>#q*%)W+3:(H55)1 "0%)]3B>7"%8Bg)#"A1l":C
+#?65hZ$&$435>7>#Eo3:dL":$]3'43:+7($>|35Pg)/&"% < N?f$>#+#>7W*%M&W":C 3'&7?'7>73:U43 +$/ v351
< a1#&()$&&#"%i":CJ35i7&/&$P,N#+B&"%?'m/)>|3 +)1B%+&)G.{pK3:?6>7)&.":Ck+)&tCu"%$-&/.EAg)&h
2/
546/
&g)(*+#:)>;E%h]35 3:
3
V35/+ $3(5: 7
3/
hm{w># V35dL*+
~T30E!>#"% &odL":$o,N#
53:#"%$&?63:+3 +"%&)h43:1<8:$l("%+/"%> G
7
"%W)3:(r +)&I1435r3O3:1H)3:(r9+3:8:&$?6?63:/El& )08
"%93:$A+"%?635+#(V3:>#>#E}8:)+35)1
43:+#()735+#8=&EA&+? q7
)$?6"%|3h
< 8 6 h = 66 h- 66 h
94
6(6 ,."%/1&:/ch
3:d&/+3:(<;351R": *K!+3:(<,-9&$d?6;+1 Cu"%?
3:11#+#"%vh,."cKA+3:(*+&<3:1
)3:(r
"% 3:d&/+3:(*O,- ()/V35)1dME
M$?63:&)G ~oM$?63:ln/$18%)&f,.)/<8:#% +o&/$?'?B3:/7&3:$A+"%?635+#(V3:>#>#EF"!1$()1bdME
< 4
,N#'3M$?63:A} ()/V35)163:d&/+3:(* < 6, * "
()":?6g789&/E!&/)?'&o3:1 3: cK!++35(i()35+1
,.)t3:&
5:)1'+"()":?6435U+)?
dMEeM$?63:& >= @? A ? C
B /*G
ED
6F
~@n/$18%&
? C
B /w3:16"%
GHJI0KKG:L@MONPLQSRUT@VWLMYX5TROV[ZMUNP\]K\_^<`:acbdTfeg\-L IPX5QSehL@ZiQ >jb9I0RUZhIWbJL@Xlk@KV0KEehL:QgK\%LfX9L'IPKL@\0MORUV0K@mdnoNPeJXSp]XqQgKEr
RYXJV0TQ I0NPROMOQ9QSTkfKEV0KegLQSKI0KLf\]MORUV0K<X>jQgI0KEegKstTfeSK'udT@MUN0r I0RUL
\]RY\WV0TQwv[LeSQSRYZRUvPL:QgKRUV1QSI0RYXJQSehL@Zhx3m
yHCKeSrXzgL IPX5QSehL@ZQg{.LVP\|z5KKjQSehL@ZiQh{'\]RYX5QSRUV0k@N0RYXSI I2KQqblKEKVk@KEVPKEehL:QSK<\%L@VP\WKLKjQSehL@ZQSK\1X5NPrrL@eSRUKXm
< 6 , * ":CiM$?63:A}()35+1s*K!+3:(& ED
A
t>#+"%$8%9,-"
? C
B /*G
=
?'"A1>.cK!++35(+&f,.)/
3V53:7>73:d>7fCu":3:>#?6":&/q3:>7> B1"A($?6f&*+&hw"%>#E ":B("%?63:#&"% ,U35&g)/Cu":?')1HCu":
V35(rlg)t&/$?6?63:EBCu"%N3@8%;%)<&$?6?63:/EB& ):G
7
"%)3:(r 1435+3<&/3:19r3:/8%q3:d&+3:(q& ):hJ+63:$"%":CU'?6"!1)> 35d&/+3:(*
3:&/&)&/&1l+]1)8:)W"5C ?B35(rodL*,-)O+W?'"!1)>L3:d&++35(N3:1i:357":$&Ug))U3:d&/+3:(*+&G
#&/)h $3:>7;r35#%N?'V3:&/$&-g)r3:#78W"q+m()":?64357&/"%'dL*,-)O3q?'"!1)>Z3:1o3Ig)
7
3:d&+3:(P3:&P3,N":>7],.)IL":/+1O"%<3j&/(V3:>#WdL*,-) ))/"'3:1oCu"%$Gw~)&/q?'V3:&/$&
,.)I8%3:?6?6357(V35>7#E:h()"%)&#"%l3:1<"%835 )35+#"%vG
~J" ()3:>7($>|35 $3:+#+35+;%<?6)3:&$)&6":CW"0%>73:2dg,.))
&E!&/+?j}@3:12M$?63:A}
()/V35)1q&$?'?B357&)hQ+aM$?63:A}()35+1&$?6?63:#)&v,.)/-&8%?')+1fdE43:1q7+" D
$
" <@
6, *
t& */ hQ,N7(rI3:/w7Cu"%/?B3 +7":43:>Q$;+&z435 &"%$>71)3:(r*KA&&J"% &>#C|} ()"%r3571
CD3:(*U76+t71)3:>L()3:&5G ~)&/W$#&-?'78%.dLm&))(W()>|35$&& "0,.:))hEi3:t":CS+
$ " <
&+)())&G t$+"%?6357(V35>7>#E 8:)+35)1e&$?'?B357&f,-<3:$"%?635+#(V3:>#>#E &8%?')+1 7"
@?
=
P&:/ch,N7(r<3:/3:>#,-3VEA&&/)+()&)G !$d& $)+>;E%h4+3:&&/)&&/"%P>7"!(V35)1i+
t&435@("0%)/)1s+i()"%)j":CNV35(r
@
qhT#CN3:E:h 3:1b3:&/&78:)1b3:=)&/7?635+6":C+
18%I"5C ?635+(rvhdL*,-)"%q351oCu"%$ )G
-":M)
7&J(V35>7()$>|35)1qCu":pV35(rfL) &/$?'?B3:EI3:&T-M$?dL ":C t&p?B35(r78t&/"%?6
dEO+q!$?fdLm":C
@
KQ
":CZg) &$?'?63:#)&T,-3:& *53:>7$43 +)1$&#8W()#&7":@3:1f/)()3:>7> VG w/)()#&#"%
@
1#!711
P&m#l+g))t&$?'?63:/E:G-,P(V3:>#> ,-3:&t?6)3:&$/)1F35&t+M$?fdg)P":C
@
P&t?635+(r)1O1#!#1)1<dEi+W":r3:>z!$?fdLN":C
t&P7i+I?'"!1)>v&/$?'?B3:E%G
L:QhZhI0RUV0k
k@ehL@\]K<XdblKEegKL:QwMUKLfXqQ9T@VPK >0XSROVPZEK TQSIPKEegb9RUXSK V0T#B XwbdKeSKeSKv[Tfe5QgK\%stT@eJQgIPL:Q BoX
?wT@QSKQSIPLQoQgI0KEegKRUX XST@r
K.L@eSkfN0r
KEV QL I[TfN]QIPT:b [email protected]<ZRYX5RUT@V LVP\ eSK<ZELMUM XSKEK Z
L@M m.>
`f`0^
I( stTfe9r
T@egK \0KQgL@ROMYX
KET:b9V
=
[4
[& & \[)h\
66 !hM,N7(ro7()>7$1)& @l$>;+ W)B3:&U3q()"%?'L":)Vh
~ -":>7$?fd|3 A$?'?B3:/ )wCu"%
+ W
7&f3()"%?'L":&#i&/E!&+)?
+435j$&)&j1;yzMf&/+35+8%7&@1)g)178 "% iE!Lo"5Ct1"A(c}
@
$?')+&@#=+o7$A@&*VGW$f&/E!&/)?<h <$># W)vhp,-3:&@$&/)1b"%b"%>;E +o&/+&j35dL"%$A
3&#8%>#i:)VG 7 "%>#>7"0,N78l+ + 8%$#1)>#7&)h ,.l35&&$?61b435j35>7>-1"A($?6j&&
6
()":M+3:7781"!()$?')& 435 ,.)P$d>77&/)1j,N#7j&/%i143VE!&-35N"%63I&/78%>#:) @
&$(rH1"!()$?6M&m,.)j&/)W+" l$>#+ vGHf()"%&71)1 1"%78o3:93:11;+#"%43:>k+&/]Cu":
&#?6#>|3:/#EdL*,-)O+]1"A($?6+&U#i3f1"!()$?')-&)G=m,."%$>#1i43V%W1"%m7&.$&#8
+@&7?'7>73:;Ei?'7(&m+35],.@()$/)>#E$&fCu"%t1"A($?')()>#$&/)#8i#++3:(H5M#8
3:1()>#$&/)#89&/r358%l"5C
t*,N&d>73:&/)G
t"0,-*%)hN8%#:)e+<>|3:(H5s"5Cm+3:778
1435+3 Cu":
+6&/78%>#j%fE!L5hp,-'Cu)>;I435I+/)&/"%>71&qCu"%
t*,N&d>73:&/)q()"%$>#1="5dg6/)>#|3:d>;E
1*+)/?6#)1zG
H3:>#&"f#?6>#)?')+1B+W3:d#>7#E@"@"!1$(]*K!+3:(*+#:W&$?'?63:#)&)h!7O3511#7"%
+"3:d&++35(+;%P&$?'?63:#)&)GT~7&a?'V3:.*K!+3:(783I/)/)&r35#%m&))(mCu"%?
+)?'I#&/V3:1O":CT8%)35+#8'3j&/)+()qCu"%?
+7)&/)(*+7":<"5Cp&/7?'7>|35-3:&&)G
7!""$#%!'&($') +
h * ",-"&.)!/0"21430"2(256)!56874&719!"2(2&:;:
hMd
!<,-5;(20
&(?!8)0)&:6:@)!"27A!"27(?"2)BC8D'E"F30+1/E(2"21G)!/,-,9&.!5;"?)H&71G,-%1"2:@)0/,I,I&05;"2)
5;7I'""?7L!5;0""?=.&:;/&.'56879(?8:;:6"2(?!5;87 &7E14,9&(?!
}
&=8"2!&>8567>
h!d
7X5;7
)!"?(287E1
87
d
~
&
d
:;"
=
U
~
56!X0"2)!3\"2($!I30"2(?5;)!5687X&71M'56!1
.'T!"2(2&:;:^&.71G30"2(?5;)!5687 h *
56:;")QK+)Q'"?,
*
"2)
h
8/[)0K%)0!"2,
56'T!"?)!3\"2($'-!"?(&:6:]U
=7:jd
&="2'&.>85;7>
!"2)03J"?(?!56=8"?:6K
h
"90"2)0/:6!)W&0"
U
7X'"N"?=.&:;/&.'5687MB"$#%!'&($'"21Y)0/,-,9&05;"?)H.BZ&:;:@)05
*
h
}
K9(28,-3/E!5;7>F3!"?(25;)05;87M&.71
!"?(&:6:BC8N"2&(OP)0/,I,I&QKR&71S&=8"?'&>5;7>T'8)0"<&(?!8)0)N!"9(?8:;:6"2(?!5;87VU
)!E *
)3:(r
"&.H/)H87T!"2(2&:;:
d
K%)0!"2,
h P4h
(2&,-"N567
=Id
"2&.H/)
/E7EH87X3E!"2(?5;)05;87U
= 8
@
K%)0!"2,
=7:
6
(2%1"
=
&
d
)!5
:;"
"?)2U
)!E *
= w{
U
@
K%)0!"2,
=7:
(2%1"
:;"
)!E *
{
U
U
0/
U4
3/
U [4
3/
(,
'&7
5
=6
66
5
567>
&:6)!T8:61)
* 8!1T"$#%!'&($')H)!"23&'&.!"2: K
=8"?0KR:;5 !!:;"W15
y
"?!"?7(2"-5;7
0)0H87M'"
d
4
6(6
<D~
K
&
d
:6"2)
= =) 8
= =
= =
d
U
5
&71
&.
x
h
&(208)!)
)!(2!"2)
]/
546/
&.:;:\)!/,-,9&.0K
d
567
8:61U ,
5
)
5
)
&7
<
3/
2/
U
]/
U
<
h
6(6
87
567
<
546/
U
)^)0(280"2)
5;&
<
<8
<=
&=8"?'&>8"?1
U
<=
d
}
=7, 8 = =) (, 6 :=
!
= 8 56(2!
* 8!1Y)0/,
d
8:;1U ,
&7
}
,I5 !'567>W" #+!'&($')?U
d
h
'"I)!/
U 3/ U
}
6
&71Y)0K%)Q'"2,
K
@
"27X,I56(2!
@
!"2(?5;)05;87
=8"W)QK+)Q'"?,I)
&.
d
56(2!
x
B ! 'E"2)!"W * :6"&)Q * T3\"2!(?"27AO&.>8"
66
)!"?!)WB
}
=
*
x
3J8567A')2U
* 801P"$#%!'&($')W&.71
8D,I&(20
B !"-!83
"$#+(2"?3E'5687M5;)D0"2(&.:;:JBCD)0K%)0!"2,
* 801X)0/,I,I&05;"2) *
<
8:6/,
56!
'83Y'E!"2"
56B * "9:6+
)
5;&
2/
U2
, 4
= <
} &=8"?'&>"21
7, U 3/
U, 8 /
2
U 7, ]/
8 U 6 546/
&:6: ,-"&.)!/0"2)
!"
d
<=
U
7: U =8")QK%)0'"?,I)
'"F!83
(2%1" .
h *
)QK+)Q'"?,I)H)!/
&(20
'"-!"?: &.!56="-3\"2QBC8!,I&7(?"
8!5 K9.B (2&)!"?) 'E"87"
"@% 5
&.:;:
(?:;"&.!:6KX)!"?3&!&.'"?1RBC08,
4
x
= <)=
= <
=A < = 8 <
)(287)05;)Q'"27A!:6KTBC8/0!
'&7
@
} &="2'&.>8"21
", U (, 0/
U
8 /
3
U
3/
U
q4 /
q4 /
8
]/
3/
,I5 !'567>W" #+!'&($')?U
5;(20
=.&:;/&'5;7X)0(280"2)87G"$#%'!&(?!)BC8
56)N0"2: &'56="
n
@
d
)QK+)Q'"?,I)H)!/
K%)0!"2,-) :;56)0!"21F567F801"2 B)QK+)Q'"?,
~
,I&
=6
&.:;:
, "?(&:6:
7X5;7M3&0"27A'E"2)!"?)&,-87>
K%)0!"2,
x
&=8"?'&>8"?1
U j4
546/
8:6/,
5 '
= = <
=8 < 8
2/
= =) <
}
56(2!
<=
j4 U
6 7, U (2%1" h *
@
!"2(?5;)05;87
3/
[4 U :
q4 /
U
& ="2!&>8"21
U
)0K%)Q'"2,-)N&!"
'
}
=7, # <)=
=) # < 8
= < =) :8 <
&(?!
(,
d
q4 /
3/
=&.:;/&.!5;87I)!(?8!"?)D874"$#%'!&(?!) BC8 !"'3
=
&
U4
&=8"?'&>"21
U
3/
U
3/
&(20
0/
U
}
6 8 < = ,# < 8
&="2'&.>8"21
K%)0!"2,-)[:65;)0!"214567T!1"?DB )QK%)0'"?,
,I&!56"2)2U
@
!= 6 <)=
=78 %, < 8
6 , < =A 6 8 <
0/
7X5;7M3&0"27A'E"2)!"?)&,-87>
}
5;(20
3/
U
U
6
~
6
U
U
(,
~
<)=
& ="2!&>8"21
=8 = < 8
6 8 < =8 ,8 <
6
@
, "?(&:6:
}
&(?!
}
&=8"?'&>5;7>
=8"I)0K%)0!"2,-)F5;7
56(OX,- =8"?)
BC08,
,I&
5
"?)
'E"-=.&)Q
)0"2(?871
&=8"?'&>8567>W56)D/)!"?1U
5;7>&. &:6:)!/E,I,I&!56"2)5671"23\"27E1"27A B)05
" h
%/E,9&7E)1E5;1
d
"$!'"?'&7-)0K%)Q'"2,-)
=
@
K%)0!"2,
=7:
(2%1"
6
<
7= ,
<
<)=
!
=7, <
8
=
[4
(,
~
d
&
{
:;"
U
,I&!56"2)2U
)!E *
=7:
)!5
d
d
)!/
}
U4
d
5;(?!
0/
U
54 /
U
6/
U
3/
}
&1
n
'E"'834)QK%)0'"?,
"1E5
y
U
=A
"?!"27E(2"
d
"27
d
)QK+)Q'"?,I)H)!/
&=+>
56!
&(20
3/
U
6/
U
6/
U
54 /
U4
q4 /
U
0/
)0'!&(?!)BC8 'E"
d
567
(?="2!&>8"U
, &.7
8:61U
5
)
)! *
5;&
]/
!
U 7: 87
)^)0(280"2)
6(6
4
567
546/
* 8!1Y)0/,
d
8:;1U ,
@ }
!= = = < , 8 8 (8 < : 8(, : < 8 # : %, : 6 <)=
= =7: &=%>
4 U
,-"&.7
h
=8"W)QK+)Q'"?,I)
d
U
= = <
546/
8:6/,
2/
U
]/
5;(?!
x
!83
&=+>
U
3/
U
U
6/
U
[4 U [4
3/
U
0/
=8"
)QK+)Q'"?,I)
K+)Q'"?,I)N:;5;)Q'"?1R567
7
~ 8356(
/7,I&
!"?(256)!5;7
3/
d
2/
3/
&7
}
5
)
,I5 !'567>W" #+!'&($')?U
[4 U
<
4
5
}
0"2:;&.'"?1
"21T/75 ')
<
<8
3/
<
]/
2/
U
h
2/
<=
U
&(?!8)0)&:;:+)!/,-,9&.0K
!1"?NB )0K%)0!"2,
5;7S3&0"27A'E"2)!"?)9&.,I87E>Y&:;:
8/+BZ7567" /chzd /E
)!"$=8"27
3\"20(2"27A'&>8"3\85;7A!) / U *
"?7T,-5;(?!
"2!"?7(2"[5;79!"
(27)0'&7A *
y
=6
x
'"F!83
(2%1" .
h *
&=8"?'&>8"?1
U4
<
U
0/
d
}
(,
h
U
d
K
h
66
7
7:6K
,
(2%1"
)0K%)Q'"2,-)
"?)0HL/,9&.7)H&71M'"
66
'83M)QK+)Q'"?,
'"
d
BC8/E 8/+ B75;7"HL/,I&7)
h
*
"27M,I&(20
}
5;>>8"2)Q
d
"&
&="2'&.>85;7>N5;) /E)!"21VU
~
56) "$=8"?7T)0,9&.:;:;"?2U
0"2(&.:;:Z&71R30"2(256)!5687
* !148 4
<
87: KX&9)!,I&:;:^,I&!>5;7
3\"20(2"27A'&>8"3\85;7A!)
3\"20BC!,I&7(2"
* "BC%(2/) 87<"25 '"? !"
"$ * "?"27X!"
7I3!"?(256)!5;7
d
&=8"2!&>8567>N56) /)0"21T&71< * "2)QD(&.)!"
B %/E,9&7E)" #+(2"2"?15;7E>G)0K%)Q'"2,
15
q4 /
8 # < = : < (, = < =
<=
U
}
56(2!
)0'!&(?!)2U
5;7G,I8)Q(2&)!"?)87Y!"?(&:6:
~
<
<8
3/
U
U
/E)0'"?1
)N)!(2!"2)
5 &
d
&
* &)
&.:;:
=.&:;/&'5;7W)!(?8!"?) 87-&
8:;/E,
,I5 !!5;7>
,I&!>8567
U : @
!"2(?5;)05;87
&=8"?'&>"21
U
3/
<
8 8 = (, (, = = 3/
U
=
}
&(20
@ }
@ }
=", )< = 88 < = = < 8 8 =7: < =78 8 < 8 :8 <
7= 8 # <
(: 8 < =
&=%>
U
"?)N/)05;7>X:;"?7>'
56!
*
&(20
T{
:;"
0/
U
=8"?'&>"
= 6 < =
= 8 <
! = 6 = < =8 = < 8
(?+1"
&
, = )< =
= = <8
8 < =.&:;/&'5;7X)0(280"2)87G"$#%'!&(?!)BC8
@
K%)0'"?,
@
&="2'&.>8"21
U
7X5;7M3&0"27A'E"2)!"?)&,-87>
(,
}
5;(20
K%)0!"2,-) :;56)0!"21F567F801"2 B)QK+)Q'"?,
6
~
@
, "?(&:6:
} & ="2!&>8"21
U (, 3/
U 66
83/
U6 0/
! U q4 /
&(?!
"7L/,
d
"20)
0"2,I&5;7E)!"2:;&.'5 =8"?:6K
* 8014)!/,-,9&.!5;"?)
h
&: '8/E>89'E"
567(20"&)0"21X5;74'"BC80,I"?D(&)0"
h
= @
=7:
(?+1"
6
~
d
&
:;"
)!/
<
d
!
U
,I5 !!5;7>
: U [ 4
}
&(20
!"?(256)!5;7
&=%>
5;(?!
0/
[4 U
3/
U
3/
U
U
3/
U
6/
U
6/
U
3/
U P4
3/
U
54 /
[4 U [4
3/
U
6/
U
6/
U
0/
U
0/
x
)N)!(2!"2)
d
87
d
&
d
5
, &.7
8:61U
x
)0'!&(?!)WBC8N!"9!83
"21M,-"&7T(2 =8"?'&>"U
567
8356(
/7,I&
&=+>
U
5 &
&
@
&=+>
U
=.&:6/&.'5687P)0(280"2)
d
}
5;(?!
3/
"2)H/)!567>I/E7,I%15
8:;/E,
56!
0/
U
>8 6{
,I&0K4)05
*
&=%>
U4
(,
=8"?'&>"
}
&(20
@
~
}
5
@ }
,8 < = (8 <)= 88 < ! = = = < , 8 =8 6 < 8 = 8 < 8 8 =7: < 8 (8 < : 8(, 8 ( , < < 8 :8 < : < 8 # : 8 6 : < 6 : < (: 8 < = %, : 6 <)= = =7: K%)0'"?,
)
)! *
4
<
<8
3/
h
=8"4)QK%)0'"?,I)
<=
<
U
&.(2!)!)
2/
]/
2/
U
K%)Q'"2,-):65;)Q'"21M567X801"2
7
0"2:;&.'"?1
"21T/75 ')
}
&:6: )0/,
B )0K%)0!"2,
,
5;7S3&0"27A'E"2)!"?)9&.,I87E>Y&:;:
h
(2%1"
)0K%)Q'"2,-)
)0'!&(?!)2U
}
3\85;7A')[BC8,I&(20
&=8"?'&>"21Y!"?(&:6:
h
BC8"$#E&,-3:6" /*h &71
!"?1/(?"21R56567G'E"
: &.0'"2
(&.)!"U
(2 ="2'&.>8"
/)!567>
&=8"?'&>8567>T&)
>8"?1 /*h &71
*
x
'"S1"
1"
x
7"21
}
&=8"?'&>8567>
'E"H,-"21E5 &7U
h
)!/E,I,I&0K
)0K%)Q'"2,-)
)!"?(287E1
75 '5;7)
"&0:;5;"?2U
,9&.7LKNB!" )0K%)Q'"2,
~
)0'!&(?!) h * "4(28,-3/E!"21
d
30=%561"21
d
"-&:;)04(&:6(2/:;&.'"?1
&
5;7
&=8"?'&>8567>
:6"
d
* "I/)!"?1'"I,I"2&7(? =8"2!&>8"
B !"27M=8"?0KM:; *
,-+1E"2:/7E56') !&.
U4
)!E *
(2 =8"?'&>8"
5;) /E)!"21VU &.) 187"['"
d
"2)Q
5
/E /7,I&
.'
,I56(2!
,I56(20
}
}
n
&1
&.71
&71R,I&(20
"214/7E56') +
h *
/E)0'"?1
,9&(?!
}
}
}
&=8"?'&
56(O45;71E5;(&'"2)
*
56'E5;7R"&(OP)0/,-,9&QK
&71
!5;01
&71T
}
5;7
&1
n
d
)Q'!&(?!)
)!(?/!"?)[1E5
'&7
7(2 =8"?!"?1<&. &:6:E5;7-&7AK
3\"2"?
y
"2!"?7(2"?)[567X(? =8"2!&>8"
/)0!"21R)!(2!"2)N&(?!8)0)F&:6:&Q'5;(?:;"?) @
h *
30"2(256)!5687
&!"BC/0!T567<'"
874&
d
'&.!"2
d
"$ * "?"27
'E"?K41-(2 ="22U
)'"-:;"?7>!
"
<
3!"?(25;)05;87
d
}
&.71S:;"?7>'
)!/,-,9&.0K)!"?7L!"27(?"2) * "?!"D0"2: &'"21N'!" '35;( B'"D)0/,-,9&QK8U
'E"N,-"215;&745;)
d
/)Q'"?1
/)!567>
5;7E(2"H&: &0>8"D3J"?!(?"27AO&>"[BJ,-+1"?:/75 ')Z&0"
BC8 '"
n
'P/E7&1
1 !~Wh
K
* "&=8"567(2:6/1"?1<8/ )!(2!"879!"2:;&.'"?1
78 ,9&.(2!
=7:
d
78N!"4&
? h
'&.7
h
0"2>A&01:;"?)!)IB
5
)0(280".B 0"2:;&.'"?1
5;7>
x
!)0
d
*
/E
74(2 =8"?'&>8"
"20"
"$'"?<,I56(20
/7,I&
5
}
* "9!&7
8-,9&(?!
"21T/75 ')2U
5
}
K+)Q'"?,
&.714)!"?(2871M8743E!"2(?5;)05;87
h
/)05;7>
'&.7
5
5;7>4)05 #%'U
'&.7
5
5;7>
x
h
"2)0H87T"$#%!'&($')
h
5
'&7
/EHBC8/0!
d
'&.T:;5;7E"&05
h
!83T3J8)056!5;87
"M15;1S7E
3\"20BC!,
&'5;7
<
x
d
}
&)H&-0"2)!/E:6
h
5
d
"21W/E756!)2U
h
"?1
!"2:;&.'"?1X/E756!)
}
x
<
B !
K+)Q'"?,
}
,I56(20
=:h
&=8"?'&>5;7> / 87
56(OW3J"?0BC80,I"?1
.*
)Q'!&(?!)H"$=.&:;/&'5;7U
&71-,9&(?!
) (,
}
)QK+)Q'"?,
d
<D~
&=8"2!&>8567>
3\8)!5 '5;7<5;,-3! ="2)
* "?:;: 567S>8'&.,I,I&.'56(&:656K
BC/:;:1E"
h
5;)&4156)0'&7A'56!1Y"?!"
"?19(?="2!&>8",-"?'05;( L
h * ")!(?8!")!8,-" *
!-,-5;(?!
!"
5
* 8!)0"N7X/7E,9&
&=8"?'&>8567> / /E /7,I&
&71M)0K%)Q'"2,
&.)
1E+"?)
"?1RBC/0!R7Y"$#%'!&(?!) /
,9&.(2!
(2,I3\87"?7LTB'E"
h
(2,I3\"?!56'5687M&71
5
3&Q'56(25;3&.'"5674'"&
567>BC8/Q'-/71"?
!"$O&567) 'E"
!&7
87N'" !"2:;&.'"?1
1561M7
=7:
)QK%)0'"?,
B * "/)0"5;7)Q'"2&19'E"/7,-%15
(2 ="2'&.>8"
=7:
5;(O
*
d
!)Q7X30"2(?5;)!5687
h
* "$=8"2
(, <
K%)0!"2,
(2 ="2'&.>8"D&71F)!"?="27A'
d
'"?)!"(&:6(2/:;&.'5687)?U
= (,
&.71
&
d
:6"
& :; * "2 87
U2
8 / U
)!:65;>8A': KI!
K+)Q'"?,
'56!1U
(28"?)!5687S1/"4'
!"<B &($
d
"$BC8!"Y'E"
* &)M(O&7E>8"21
&
)080M!5;,-"
/>>85;7>-B '")0K%)Q'"2,
* &)H7
(2,I3:6"?!"21T87
'56,I".U
h
& '5687I.B'"["?=.&:6/&.'5687 "
+ "2)0356!"H!"(2&!"$BC/:\8!>A&.75 .
d
,I&0K
h
(&.)!"
&.)!"21Y"$=.&:;/&'5;7
'E"H!835;(
56!
*
15 =8"?!)!5 K
y
W
80 h +
&:6:^BZ56!)[567L!!567)!56(N)080!(28,-5;7E>8)2U
'"9)!5;7E>8:;"-"?="27A
(&.!"2>80K
8
'E"
/
B 'E"K%3\"
/3J"?
*
:
h
)05;7>:;"
}
"?="27A
'&.7>85;7E><BC!8,
1
'E"
*
E8:;")0"?
*
'83E5;(U
56!8/E
~
}
)0/,
d
:;"?,XU /E
h
'"W)0"?.BZ&0!5;(?:;"2)
(287A'&5;7)H&Q'56(2:;"?)D87M)!"$=8"2!&: 15;) n 8
5;7AD'35;(?)H0"2:;&.'"?1M!
>A&,-"
!"2)0/:6!)'4BC+%1Y)!:;1
+ 5;)D7E[&7M"$#+(2"?3E'5687G567T5 ')D(2&.'"?>880K !"
'E"25;)Q'0/(?!/!"[&71
1
(287AO&.5;7P1%(2/E,I"?7L!)
87: KM:;%8)!"?:6KM(?877"?(?'"?1Y'08/>8G!"F(?8,-,I87T'"?,I".UW78H"$#E&,-3:6"
6 :
5;1E"&:
7G'E"F,W/: '5 } 1 %(2/,-"27A
B5673/E1%(2/E,I"?7L!) 567-&)0"? 7:6KW&>8>8!& =.&.!"D'"H3!
&7&.:6K%)!56)F!"$=8"2&:;"?1P'&.F)!8,-"<)0"?')NBC!8,
+
/
5;))0!5;:;:&.7
5;)Z,I&
5
/
)!5;7E>8:;""$=8"27A
"?)Z56Z"?="27I&!1E"2'
&.7LK<>8/5;1E"2:;567"2) &
d
/E
*
&.[&
1/05;7>4'E"-"$=8"?7L2U
1
K%3J")!"$')H&0"
1"?(25;1E"
*
&.5;)
/
~
E5;))!"$
="20)'&.!5;:;"
56,I3\80'&7A
1
567
567
)!/,-,I&0KI)!/:;1M(27L'&5;7VU 87)!"
}
h
/"27A!:6K
6 U Ah@*
&>80"2"2,-"27A 5;7&7
5;(O
(280!"?)!3\871)'X&T!&718,
"?!" BC8 )08,-" '" #%')
*
h
~
* "F3\"2QBC8!,-"21GBC
)!E * "21Y!&.H'"N5;73/+)0"?
E5;)
+ W
d
&.!5;87
h
66 = < @
(
"2 *
7Y"?&:]U
&7E1X'E"WL/,9&.7G"?=.&:6/&.!8
h
" /&:6)
5;!75;(W)056!/&.'5687
d
"?0'"2 )!(2!" '&7
56!-!"H1"?'&5;:6"21-)0O&'5;)Q'56(&:
+ 66 =Vd h
(/ U
7G!&.&7&: K+)05;) \
h * "
* "20"F'E"F,-8)0[5;,-3J0O&.7LDB &.(?'
,W/(OG,I80"N56,I3\8QO&7A
+ ")!8/E:;1X&:;)0-7E'56(2"'&.
)!/E!305;)!567>8: K
&.33&
*
'&.7G'"N)0K%)0!"2,
"$'"? )!/E,I,I&!5
'&1561
&.!5;87
* &) 17"
8DL/,9&.7U
(&.)!"2)"?=8"?7Y(287A!! =8"?!)!5;&:
/)0"21U
!"?)!/: ')5;7R&7
)!/E,I,I&!56"2) !"2(?"25 =8"21-&
&71<"$=8"27M,-8!"[5;,-3J0O&.7LZ!&7
KM&7X&/E!8,9&'"21M)QK+)Q'"?,
5;)
)!"?0=.&.!5;87-5;)Z(27)!56)0'"?7A *
5;7X3!"?15;($'567>I!"F)0/,I,I&QKM)!(2!"
'E")!/,-,I&!5
~
&.>8!"?"2,-"27AU
d
"$ * "?"27WL/,I&7)^5;) /5 '":; *
&/+'8,I&.'56(&:6:6K>8"27"?'&.!"21
L/,I&79(?'&.B !"219)0/,-,9&05;"?)2U
&7&.:6K%)!56)
5md
" #+!'&($'5687'&)
= (:
h
3&0!5;(2563&7A')D(2&,-"/E3
&7&.:6K%)!"?)B !"F0"2)0/:6!)1/"'I15
y
*
5 'T15
y
"20"27A
h
567T)08,-"
"20"27A"$=.&:;/&'5;7X,-"&)0/!"?)
&9:;56)0[B'83G3J"?0BC80,I567>9)QK+)Q'"?,I)=.&05;"?1GBC!8,
87E"W3&Q'5;(?5;3&.7L
'-&7E'"?2U
7!"2[5;,-3J8QO&7A
5;)
*
;
78Z =8"2 &K"&
)0K%)Q'"2,
"
*
@ /: '5
5;(OX&56,I) !
#
&71Y!"$#%(2: &.)!)!5 (&'5;7U
+ 5;7M'"
K
'E"-)QK%)0'"?,I)F&!"-B )!/ -(256"27A': K
O&)
5
)?U
~
"M"?=.&:6/&.!5;87
"$=&.:;/&.!5;87
/&:;5 K
1"2)0(2!5 J"?1
'
\"
567P'"47E"$#%
'56) /"2)Q'5;7U
; 71
"?7I&.) !&7<&) 3&Q B 8:;/E,
"2:63G&
,I&!5 &.!5;87 !5;)[)0K%)0!"2,
%$
d
567S5;7EBC80,9&'5;7&(?(2"?)!)
)!"?(?!5;87X&5;,-) !I&.7) * "2
56(OG56)[:6"?B H/7&1E1!"?)!)!"?1
*
"$'"?N!"I)0/,-,9&05;"?)3!%1/(?"21
"?:;3EBC/: 'Y/)0"2!)
/"?)0'5687
/)0"2
" *
) E: &)Q'"2 &7" *
"?"23Y& E!"&.)0HB (2/0!"27A[7" *
5;7A'"?>8'&.!"2)&I7%/E,
5 &
" *
)!567>
!
)?U 7T&1E156!5;87<!I)0/,
J"?B!"2(O7E8:;8>5;"2) &,-87>-'"?,
56:;"W3\83/:;&!5 KG.B !"
) E! *
) :;&)0!"2)0K%)0!"2,
(?:;/)Q'"?!5;7E>
&
&.)0"?="&:6"21
LK
h
'E"<7L/,
\"2WB
0"2>8/E: &
=%5;)!5 '80)
56)F"$=+561"27E(2"<'&.
56N5;)N/)!"$BC/:
"
=
* "
* &7A'"?1
!
"?=.&:6/&.!"
'E"F(27L!!5 /E'5687TB 'E"F)!/E,I,I&!5 &.!5;874(?8,-3J87E"27A!I'E"NBC/7($'5687&:656K<.B '"N =8"2!&:;:
)0K%)Q'"2,TU
$
DE"
!)Q45;)0)!/"
!"2&:;: KFE"2:;3+BC/:5;7
* "Y&11E!"2)0)45;7
" I(?5;"?7L 7" *
(&7R,I!"
D"L/&:656K
.B &M)!/,-,I&0KG,9&KG=.&QK
)!"?:;"?(?'5687YB)!/E,I,I&!56"2)BC
'
%
"$'"?Z/)!"?!)Z3!"$BC"27&'/!&:
."?K * !1)FBC08,
BC!,
&="T"?56!"2
" *
) :;&)0!"2
&Y)!/E,I,I&0K8
87"
&0"567<'"
(?87A'"$#%[B '"
* "
"
&<'" #%N!&7R)!/,-,9&.!5 ?"
5673/E!X&.7'E"2
&: '/>8
&<'"$#%2U
56)08/:61
"
874'E"!>A&7E5 &'5;74B !"
D"["?=.&:;/&.'5687
" *
\"2:; *1/ UD"
B 8,I3E/E'"?
&:;:6 * "?1
8/
BH'E"
)0/,I,I&05;"2)
O&) \U
#
B )!/E,I,I&!56"2)?U
"?=.&:6/&.'5687M&714!"27T3!"?)!"?7L['"
"$=&.:;/&.!5;87 /)!"?!)
!$
"
!)0>85 =8"
,-8!"
!
* "20"
1E"?O&.5;:;)
0"2)!/E:6')?U
!#"-$.&( )*
* &) 3J"?0BC80,I"?1I'E!8/><&N,-5;0!8 * " )056!"5;1E"27A'56(&:''"[(287A!5;7L/8/)0:6K
) : &.)0'"?
)0K%)0!"2,
"?=.&:6/&.!5;87
5;(O
$
=.&:;/& :;"
)E w& (.
&.)!)!"?)!)[ *
56'M'E"N)0/,I,I&05;"2)?U 7G!5;)
*
*
5 'Y&9,-80"N'!&15 '5;7&:@,-"?'E+1 V&5;,-5;7E>
*
(27L!"27AN&71/"?7(?K
&) "21R'M"?=.&:6/&.!"W'"
"$#+3J"?!56,I"?7L
."?K * !1)I5;7S'"?5;W(?87 >/'&.!5;87
* "F(2&7
5;7+BC8!,I&.'56874&(?(2"?)!)
156!"2($': K4(&3+'/0"F/)0"2H)'&.!5;)0B &.(?'5687
&7
"W(?8,I3E:;"2,-"27A!"21G!5;)["?=.&:;/&.'5687
3J"?0BC80,I"?1
&Y:;56)0W.B
)0K%)Q'"2,TU
KM,-875 '805;7>W!"256H3E!"?BC"?!"?7(2"?)
!/E775;7E>
*
)0!'&.!"2>KW!
\"?!!"2 5;7156(&.!5;87.BE'E"!"$#% (?87A'"27A '&7F&H:65;)Q .B * 8!1)?UDL/) 8'0/)0!56B K'E"
30=%561" &
/)0"2!)
/)0"2)%/E56'"H&)!35;)Q'56(&.!"21
/:6!5 "27
"$'"?48/9)0/,-,9&05;"?)<&0"
*
/+ ! /)0 8!"?3!"?)!"?7L'&.'5687)BE'"$#%2U78 " #E&,I3E:;"
!"?:;5 & :6KX"$#%'!&(?
56)
83\"27L/"2)Q'5687-&) '
/EZ5 5;) )0'56:;:+&7
: &.7>8/&>" )0/,I,I&05;"2)^',I80" )05;,-3:;"
'E"-)QK%)0'"?,
@
) &.(2(2"?)!)?U
30+1/E(2"D)!/E,I,I&!56"2)
!5;)9"?=.&:;/&.'5687
/E
* " )!5 '"
*
* &)
5 'S:;567 L)N!Y8/W"$=&.:;/&.!5;87
&1E="2Q'5;)0"21
(?5;"27E(2"[&) * "2:6:V&.)!F&,I80"
,9&'"205 &:6)
!<8/(?8:;:6"&>/"2)H5;7G!"
>8"27"?'&:\: &K
&./15;"?7(2"
*
<
1"2)0(205 \"21
+ "?3&0!,I"?7A
56!5;7I&71I8/E')05;1"
'E"
[7E56=8"?!)056K8U
:;:^'E"N'!&7)!&(?!5;87)
*
56'T'56)
<
&11E!"2)0)!"?) /
BC8H"&.(O
3&Q'56(25;3&7A') 567<'"
"$#+3\"205;,-"27A
* "?!"&) "21T'
* "2"
'E"
* "2" U
(28,-3/E!"2H)0K%)0!"2,
&7E) * "2 L
/"?)0'5687)
&7E19'
0"2($')
&(?(2"?)!)!"?1'E"I)QK+)Q'"?,
&(?(2"2)0)!"?1
'"4)QK%)0'"?,
87:6K
&(?(2"2)0)!"?)
\"? * "2"?7T * &71
&($'5;7
5 '4'E"N)QK+)Q'"?,
*
7"?"21)?U "H&) ."21<E *
/)0"2) 'F EO&.5;797E" *
(O"?( -7E" *
'E"[7" *
=
* "2!"30"2)!"?7A'"21
*
)2U
56'
1"?)!5;>7"20)H.B !"
/)0"21
/)!"?!) *
* "2!"
3\"2QBC8!,-"21
/)05;7>
"$#+3J"?!56,I"?7L2U
QgI0KXSK N0KX5QSRUT@VPXJblKEegKT@v]QgROTfVPLM]T@V0MUp
BCD&
=
3\"20)!87U
/
4
/E)!"20)
4 T
< 7%/E,
J"?
B
$
L/"2)Q'5687)H&
) &.71
\8/E
*
'"?5;D567EBC8!,I&.!5;87
56(O9,-"&7E)E"[8Z)0"
(OE"2( I!"7" *
)
=
/E)!"20)
<)= <
* "?" -&71-87: KF * F"?=.&:6/&.!8!)Z(O"?(
6/ E'&5;7
"?5;>8A /
!"2567E" *
&7E1
!$
!"7" *
) ,-8)Q':6KFBC!8,
0A&1(2&)0[,I"?15 &
$
<
7 :65;7"
* / U D
56)
'E"43! :;"<BH'E"<O&0>8"?
) 'E!8/><87
0/1E>8,I"?7A')BC!8,
L/,I&7)
'N[X5KegX9L@VPX5blKEegK\-QSI0Krm
) : &)Q'"?
!"4)0K%)Q'"2,
) )0"?="2'&.:!5;,-"2)&
0"2>8/E: &0:6KWBC8:6:; *
" *
4 U
/ U + /E!5;7E>N'E" !)QD5;7A!"2
:;,-8)0 &:;:B^/ "$=&.:;/&.!8!) !"?>8/: &.!:6K
)['E!8/>X305;7A
)
D"
'")!5 '".U
&7L/&0K
&(2(?"2)!)0"2)W3\"2
!"?>8/: &.!:6K
'&W'"M,I& 0
8056KRBH'"40"2)!3\871E"27A')
B8/"$=.&:;/&'5;7)
\"2 .B &(2(?"2)!)0"2)
) !&!"?:6K8U D
",I& 0 8056KFBV!"[/E)!"20)
"27E(2"B^/ )QK+)Q'"?,
'
BC!" L
/"?7A':6KI&7-"?=.&:6/&.!8(O"2( L) 7E" *
)
4
) 1&5;: K A)!"$=8"?7<!"2&1I7E" *
)! *
jRUVPZK
/)!"?!)
)[/E)!5;7E>
= &7P&="2'&.>8"I.B+U
4
+
&.714)!/,-,I&!56"2))!"?="2!&:V'56,I"?) 1/E!5;7E>
&7L/&QK
&="2'&.>8"7L/,
/)0"2!)
)!/!(?"2)\'"!"?)0&(2(?"2)0)7" *
1&.'&
5 '
*
87(?"T&71
4
<
'&&(?(2"?)!)!"?1
(O"?( <'"7" *
& \8/E '")0K%)0!"2,
+ /E!5;7E>!" * "2" I.B'"H"$#+3\"205;,-"27A
)!/
* "?!"W0"2(2!1"?1 @&71Y/E)!"25;1"?7L!56!5;"2)
E5;(O4&:6:; * "219/E) 'N1"?!"20,I567"[/E75 L
/"
*
AKX&/>,I"?7L!5;7>
#
* " )056!"
* "2!"[''&.( "21<!!/>8<&(2% L5;"H,I"?(O&756)!,
=!=
:;5;7E"[)08/!(?"2)?U
15J"20"27ABC!,
%
&./15
:;:
'E"
=
)
Ei
75 '5 &.:;:6K 8"?="2QK9/)0"2 * &) '&71E8,I: K
)0K%)Q'"2,
3E!8,-5;7"?7A':6KN156)!3:;& K%)Z&7
#
$
&Y7" *
83+'5;7WBC8 (O&7E>85;7>
!56"?B\1"?)!(205;3E!5;87
#
(287 >8/!&.'5687 '"4)QK%)0'"?,
0"2(2!1"?1X567M!"
/-5;7E56'5;&:'&71E8,
7&.!/'&.:: &7>/&>8"
!"?,I"?,
)0K%)0!"2,
."?K * !1)?U
BC8
4
'E"
'"
3\"283:6"
BC8D3\"23:;"
/)0"2!)-&1
# < "?71
E)0"2:6"2(?!"21
-/)0"21M'"
*
/)!"?)0"2:6"2(?!)
3!"$BC"20"27(?"
/
4
/E0'87 &:;:
/)!"?!)I)0O&.0'567>
)!5 '"
%$
)!/E,I,I&0KN!56)!"?) *
&.
56'
7"I(&=8"2&.W.B '56)N" #+3J"?!5;,-"27AN)!/:;1
J"I7'"?1 &
!"?)!/: D'"$KM)0O&K"21
&
.B)!/E,I,I&0K
/)0"2!)N&(?(2"2)0)!"?1PBC!8,
"?=.&:6/&.!5;87M&.B !"2
BC
&B '"2
'E"
&T7%/E,
J"?N.BD/)!"?!)
0 *
)!5;7E>-!"
<
"?56'E"2
&
:;5;7 -!
!"
)!"$!!5;7>
)!"$!'567>U
L/&.:;56K
&T:65;7 X87R!"
56(OI&.1I:65;7 L)!"$BC"20!5;7E>!"
&) "21
5 '4'E"25;D1E"?B &/: *
&w!l
D"X"?=.&:;/&.'5687
*
7
"$=8"?7I,-8!" !"2>/: &
"$#+3\"205;,-"27A ,-"27A'5687"?1N'&. !"?KN&1N15 -(?/:6K(O&7E>85;7>H'" 5;7A'"?0B &(?"!&7E" *
."?K * 8!1)?U
4 '56,I"?) &.71
:;"2&)0
56!T,-80"'&7MBC8/ =%56)!56!)2U
*
&71X&)
'E"
8:;"?)!):6"?="2:
.B)!/,-,I&!56"2)H="2H'"
:6"&)Q
&.
56'
*
/E)!"20)F30"?BC"?!!"?1)0/,I,I&05;"2)
!"2)0/:6!)&0"W)0'&.'56)0'56(&:6:6KM)05;>875 (&.7L&.!"
3&Q'56(2/:;& '56) 3J"?!(?"27AO&>"H.BJ/E)!"2 *
"?7-!"
&.71
:68>U
)!"$!'567>8)
D"2)0"
BC087AZ3&>8"
'E"4(O85;(?"4BC8FBC/E!/!"M/)!&>8"UH * "$=8"2
J"?!)
&71G3! =%5;1"N)0!!87>9"?=%5;1"?7(2"NBC8[/E)!"23!"$BC"2!"?7(2"
=%5;)056'!)
'E"
B\'E"D15J"20"27A83E'5687)?U )0/,I,I&QKY83E!5;87U
=8"?'"
"?K * 8!1E)D:;5;)QU D
"
30"?BC"?!"27E(2"2)87
'E"/E)!"2H(&.7G(O&7E>8"NE5;)D30"?BC"20"27(?"2)[1/!567>I&7AKM)!"2)0)!5687X/E)!5;7E>9&
(O&7E>8"2)[&!"
&)0)!5;>7"21<"?56!"2 &F)!/E,I,I&0KW8 &
"?7I)0"2:;"?(?!"21 %>856="2)&
*
* &)93J"?0BC80,I"?1
,9&.5;7
)!56!"U D
"
/)!"?!
!"
3&>8".U
!!8/E>8
DE"I/)0"20)
L/"2)Q'56877&56!"3&.>8"
$
&
%/E"2)0!5;87E7&5;0"
*
* "20"9&) "?1'T3J"?0BC80,
83J"?7"21T5;7T&
)!3\"2(?5 (H3&>8"H& \8/E *
,9&.5;745;7E1"$#M3&>8" &
7" *
*
E5;(O
'E"
5;7E1 *
E5;(OI!"
L/"2)Q'5;7) * "20"
3&0!5;(2/E: & )0/,-,9&QK<3&.>8" / U
= %?
+ %"2) !" )!/,-,9&.0K<(?87A'"?7L[>85 =8"K8/
>8%%145;1"2&
.B *
&H!"&0!5;(?:;"2)
< * /:;14K8/G1"?)!(205 \"'"
H
* /:;14K8/G1"?)!(205 \"
H
*
567EBC8!,I&.!5;87 / B '"
*
!"
@ < (2: &.!56KIB '"
& :;"
" *
+
U H)!"2
) : &)Q'"?
#
*
B
!"<)0/,I,I&QK ^'"$K
"&.(O
)0/,I,I&QK
=
"
"?=.&:;/&.'"?1
"
'5687)DB
& :;"
&71
AK
7 U 0/1>"2)2U
(?: &056KU
(&'"2>8!56"2) &71T87:6KI=8"?0K4BC" *
& 56:;5 K&71
@
AK
/:6!5 "27P&.71
* F)0/,I,I&05;"2)Z&.,I87E> !"2,
/ A
* "20"
!
"27E)!/0"
="2'&.:;:
)0/,I,I&QK
!&. !"/)0"2!)D(2&!"$BC/:;: K9" #E&,
* "
(28:6:;"?(?'"?1
=
9&0"X)0 *
7
!"
56>8"2)QH'&.!5;7>
)!/,-,I&!56"2) >8.D'"
!
)0/,
'E"X:;&)0
'E!"2"
L/"2)
567X&.:;:J!!"?"
)!/,-,I&!56"2)D!"?(2"?56=8"?1G:6 *
)0"?
'0"2"15;,-"27E)!5;7)
D"X!"?)!/: ')
5;7
,I& L)2U
J"$ * "?"27
#
)!/E,I,I&0KM>'&1"?)5;7G&:;:!!"?"
56B &F/E)!"2D!&.'"?19'E")!/,-,9&.0K-(287A!"27AD56>8 EE"BC!" %
/E"27A': K9!&.'"?1<'"0"&1
"
8!>8&75 2&.'5687F.B'"D)0/,I,I&QKF56>8U !#" )(
HJI0KXSK egKXSN0MOQgXlZTfeSegKXSv[TfVP\QST [T@QSI
QSehL@Zhx
QgI0KRY\]KEV QSROQqp%T@sL
XSN0r
rLegR KEe<m
"DAK%3\'"?)!5 2"D'&/)!"?!) * "2!"D/E7& :6"
)N0MOQSR%$KEV jXSRUVPZK
-L@VP\
"
0/1>8,-"27A')BC
&(OM)!/E,I,I&0KI5;798/ !"2)0
* &)["$=.&:;/&'"21X&:687>
7A!"2!"?)0!5;7>8: K \'"?!"W56)&-5;>8X(280!"?: &.!5;87
(&'"2>8!56"2)
&71X&7) * "2H156)0'05 /+'5;7)2U
DE"N,I& 08056KIB
U U
4
=
L/"?)0!5;877&5;0"
%U -&0!5;(?:;"2)D7G&=8"?'&>"U
(27L!"27A D!>A&7E5 &'5;7
>8%+1
j4 )0/,I,I&05;"2) 1/05;7>F!" * "2" 9B@'""$=.&:;/&'5;7U
,I&!5 2"21
3\+8
( "? *
=
* "20"4&) ."21P!G"?=.&:6/&.!"987"-)!/E,I,I&0KR3\"21&K 7S&=8"2!&>8"
&
* &)
&1" L
/&.'"
)!/,-,9&.!5;"?)N3\"2F1&K87P& ="2!&>8"
@
3\+8
>8%+1
'&.718,-:6K-)!"?:;"?(?'"?14BC8 "?=.&:6/&.!5;87<"$=8"?0K41&KU 5;7E"21
&1" L
/&.'"
)!&.'56)0B &($'5;7
4 U
K8"?)
=
,-8)0!:6K
)0/,I,I&05;"2)
"27 .=.& +&71
7
)0/,I,I&05;"2)
>8"27"?'&.!"2)
(O5 V,I&7
&
"
& \8/E
80>A&75 &.!5;87
"U >U !1"?DB 567EBC80,9&.!5;87
&.!"
L
L
8
? '&
\]N0egROVPkQSI0KK ]v2KEegROr
KVfQlbdK\]RY\-V0T@Q
=
P4
':6+
1 *
\"?K871
'"?5; =8"?'&:6:3\"2!(?"23E!5;87
&,I!" 1"$O&56:;"?1
!"2&
15J"20"27A
L/&:;5 '56"2) B 'E")0/,-,9&QK8U
7TB !"
7;
B\'E"D)!/,-,9&.0K'>85 =8"
14;:;
7!5;)N(O&3E!"2
* "<1"?)!(205 \"21P * Y"?=.&:6/&.'5687R" J80!)W&56,I567>T&.W(2&3E'/E!5;7E>X'E"< =8"2!&:;:
3\"20BC!,I&7(2"NB8/E)0K%)Q'"2,TU
:;% L5;7E>X&N!"90"2)!/E:6')NB
&(OY.B'"?)!"W,-"?!+1E)&)
L7 *
7R:65;,-56'&.'5687)+ * "$=8"?
\'R'"?(O75 L
/"?)F'>8"?!"2N>856="2)F/E)W&
\"?0'"?=%5;" *
BD)QK+)Q'"?,
BC/7($'5687&:656K8U
7
J!
)!(?8!"?1567
) : &.)0'"?M"?=.&:;/&.'5687
'&.T8/4L/,I&7
,I&!56"2) '&
:;56)0ZB "$K * 801) 5;7
'E" )0K%)0!"2,
&:;)0>A&=8" 5;>8F)!(2!"2) '!" )0K%)Q'"2,
"
!"
!"$=8"&.:;"21
(287A'" #% BV&7-5;7EBC80,9&'5;7
J"$ *
&'5;7U D
E"D15J"20"27(?" 5;7N)!(2!"2)
$ B &($'80) 0)0
O&.)
!&.'E"2
87"?)2U
L/"2)Q'5;7)
* "&) "?1<'"
!
'&7R(2,I3&.!5;7E>T)QK%)0'"?,
#
"2(271 '"
1&.'&I)0"?HBC!8,
)!/E56'"?1I!N'E"!" L
/5;0"2,-"27A') B
&Q'5;(?:;"?)2U
7
(287A'!&)0
!"
+
"?"27
!
)0/,
&(2(?"2)0) O&.) UD"H/)!"?!)B
5;7F!"20,I) B(287A!"27A
'" * "?=.&:6/&.!5;87) (&.7
/E"27($K
%
&71F8!>A&.75
J" &.!!!5 E/E'"?1F' * &(?(2"?)!)
3!%1/(?"21P)0/,-,9&05;"?)'T5;1"2&:L/,9&.7 >8"?7"2!&.'"?1
@ #
/: '5
0/E1>8"2)M30"?BC"?!!"?1
567I'E"[(?87A'"$#%D.B@&N3&0!5;(2/E: &567EBC8!,I&.!5;87
E5;(O
*
!"
#
D"
" *
7
)0"2(271P8'E5;!1R3:;&(2"-&(?(28015;7>M'X&:6: ,I"2&)!/E!"2)NB (?87A'"?7LN)!"?:;"?(?'5687U
* "?:;:]U
+
* "
3\"20BC!,-"21
"?=.&:6/&.!5;87
8:6/, 5;&
"$=.&:;/&'5;7) ^8/)0K%)Q'"2,
* ">8"27"?'&.!"21G!"
"?7 L5;7
"?=.&:6/&.'5687
)!/,-,I&!56"2) * &.)[3&.0'56(2/:;&!: K
'"[)!"27E)!"!&. 56 5;7(?:;/1"?19,W/E:6'563:;" !"2:;&.'"?1
1&.'&)!"$')NBC0" L
/"?7L!:6KR5;7E(2:;/E1"21
87:6K
:;%8)!"?:6K
!"?: &.!"21T&Q'5;(?:;"?)2U
"
"
3J"G!&.IBC/E'/0"
!"?)!"2&!(O
*
5;:6:DK+56"2:61
&
\"?0'"29,I"$'%1)IBC9"?=.&:6/&.!5;87
B
)!/E,I,I&!5 &.!5;87IO&) %)?U
QSIPK
HJI0K-L [X5TfMON]QgKXgZTfeSK<X T@sdTfN0eX5p]X5QSKr
u @`@` 'K: L@MONPLQSRUT@V
ROV_QSIPK
KEbwX 0MYL@X5QSKEe K L@MON[L:QSRUT@V LegKI0ROkfI0KEeQgIPL:Q QSIPK-XSZET@egKXoTs
= "!
7
#%$'& & (*),+ . -0/ (
'56)Z!"2)05;)
1 32) '$42 ' 5
#
* "H3!"?)!"27A!"21<567EBC8!,I&.!5;87BC/)!5687 %&7 =8"2:,-"?!+1
&.!5;87U 56=8"?7G&.7X5673/EH)!"$.B ,W/: '563:;"1E+(?/,I"?7A')[& J/E
%$
'")'&,-"
5;1E"27A'5 "2) (?8,-,I87N5;7EBC!,I&.'5687&(208)!)5673/E )!"27A!"27(?"2)&71
"
&330A&(O
!"?3J"$'5 '5;7
BC/)05;87
&71
L7 *
/)0"2):;&7>8/&.>8" >"27"?'&.!5;87F!
5;7(?!"2&)!567>
!"L/&.:;56KB!"M!"?)!/: '5;7E>R)0/,-,9&05;"?) !"21E/(2567>
'&.-56,I30 =8"2)
1%"2)Z70" L
/5;0"H&7
!"?:;56"2)87
"?="27A \'56)H,-"?!%1
5;7A'F&F)!/,-,I&0KUD"/)0"B^>8"?7"2!&.'5687I!W,I"?!>8"[)!56,I56: &567EBC8!,I&.!5;87
)0K%7A'E"2)!5 2"!"2,
5;)-&Y7" *
BC8 !"$#% ]' ]'"$#%>8"?7"2
/"27E(?K8UH7:;5 "
!'&15 '5687&:%>8"27E"2'&'5;7-,-"?!%1) A567EBC8!,I&.!5;87
"2: & J8!&.'"D)0"2,I&7A'56(D!"23E!"2)0"27AO&'5;79B\'"
:;"?1>8"9&/E',9&.!5;(2&:;: KG" #+!'&($'"?1BC!8,
5673/E
/E5;7)Q'"2&1
!"95673/EN1%(2/,-"27A!)W&71&X:;&!>8"
'" #%[(?8!3E/)2U
%$
1E"27A'5 (&.!5;87RB )!5;,-5;:;&567EBC80,9&.!5;87G!" L
/56!"?)F(235;7>
5;7
*
L7 *
E5;(O
&<356"2(2"
.B 567EBC80,9&.!5;87T(&.7
:;"?1>8"90" L
/56!"21
BC8N567EBC80,9&.!5;87
J"
" #E3E!"2)0)!"?1U
DL/)
*
^87E"
5 '
'"
B'"
=.&!56"?KYB * &K%)
,I&567
BC/E)!5;75;)3&!&3!&)!567>G567EBC80,9&.!5;87VU
)!8/E!(2"?)B
&.'&3E'&)
#
5;7E> &7G56,I3\8QO&7A
:;5 '"?'&.!/!" &71
&
: &.7>8/&>"3"27E8,I"?787 \5;)
* &)
7
156!"?(?': K
3!&)!"?)[5674'"
&
:;&!>"
"
5;7M'E"F:;567>8/56)0!5;(
!"?)!"2&!(OU
"
J%1EK9B^'"$#%[&71M/)0"
1"$=8"2:683\"21
1"2056=8"?1X3&'&
5;7+BC8!,I&.'5687IBC/E)!5;7X&.:;>88056!,XU
"
"2:; *
&.11!"?)!)0"21567Y3!"$=%5;8/)
&( L
/56)!56!5;87IBC!8,
,I"$'%1<BC8D3&.'&3E'&)0"
:;&!>8"?:6K4/E7&(2(?8/7A'"?1GBC8
* ")!/,-,I&!5 2"
'"2(OE75;(2&:J(?87A'05 /E!5;87E) !"?: &.!"219!F567EBC8!,I&.!5;87
BC/)05;874&.71
3&!&3!&)!"&( L
/5;)056'5687 U
"?7A'"27E(2"DBC/)!5687W56)&7 =8"?:'" #+
)05;,-5;: &. )!"?7L!"27(?"2) \3E!%1/(2"?) &F7E" *
5673/E)!"27A!"27(?"2)2U
/(O
&7
&:;>8!5 ',
\'
B'"?)!"
%$
O&) L)T(2&7
J"
3E'&)0"2)H5;7M,I)0
567"'"?,
&(OE5;"?="21
/)!567>
"M1"?="2:;3J"?1
&)0"21
"
801"205;7>G)!5;>75 (2&7A': KR& V"?(?!)
!"F7L/,
)! *
&7&: K%)!5;)<!"2(O7E5 L
/"2)?U
)!&:6:; *
&:;56>87,-"27A A3&'&
#
(?(28015;7E>-!98/H"?=.&:6/&.!5;87 +'56)
56(O
,I"$'%18:68>KRBC8
,W/E:6'5 1%(2/E,I"?7L)0/,I,I&05 &'5;7U
,-"27A')[&:6)!
*
")! * "21
"
&(2(?/'&.!"2: K)QK+7A!"2)05 2"?)
5;73/+
(&.)!"2)?U
&Y(2803/)
$
5;7A'I&I)0"27A'"?7(2".U
/+'5;:65 ?"2)&N,-"?!+1-BC8Z)!"?7L!"27(?"
>'&,-,9&'5;(2&: )0"27A'"?7(2"
\ L +U
3!&)!"?)
7"?"21)!45;1"?7L!56B KM'E"WBC'&>8,-"27A!)(287
3E'&)05;7>-5;7EBC!,I&.'5687M&71G&I: &.7>8/&>",-%1"2: U
&
&)!"$B
(28,-,I7
0"2/)05;7>F&71I&:6!"205;7>
"
X!"H)!3\"2(25 (&.:;:6K L8/ &:;>8!56!,
,-"?!+1>8"27"?'&.!"2)
LK
="?K%5;7>I(28,-,-87M5;7EBC80,9&'5;7M&71X!I(?8,
!&.
5;(O A>56=8"?7
)!"?7A'"27E(2"(27L'&5;7E5;7>'"[5;7EBC80,9&'5;7
!N,-8)0)0"27A'"?7(2"?)2UD"[>"27"?'&.!5;87-5;)Z3\"20BC!,-"21
BC08,
#
!"$#%>8"?7"2!&.'5687F'"?(O75 %
/E" *
!
"<(?871/E(?'"?1
&G!"2&1"? )
!&.[&:6!8/>M!"20"N56)
)0'/E1EK%5;7>R)!"?7L!"27(?"G801"205;7>
"$#+3J"?!56,I"?7L!)
*
56(OS)! *
(28,-3!"?"27E)!5;7PBH&X!"$#%U
7I)05;7>:;"
5;1"2&:@801"205;7>
\"2[B>8%%1X801"205;7>)[BC8[&I>85 =8"?7G'" #+5;)H:;56,I5 '"21VU
567
'&
/N"$#+3J"?!5
#
B 5;7EBC80,9&'5;7
5 =8"?7X'&.!"20"W&0"
,W/E:6'563:;"W&(2(?"23E'& :;"I8!1E"2!567>8)
,I&.'5687
1%"2)F7EW&.:;:; *
&M'"$#%F3! =%5;1567>T87"-8!1"?!567>X.B
!
/)N!G15 V"?!"?7L!5 &.!"
J"$ * "?"27S)!"?7A'"27E(2"2)
!8>8"?!"2 5;7<&.:;:J&(2(?"23E'& :;"8!1"?!567>8) &.714)!"?7L!"27(?"2) *
D56)
567P'"M3&Q'56(2/:;&F'" #%U
56(O
*
(?87AO&567)
:;"21
/)
!R1E"?=8"?:;83
,W/: '5;3E:;"W&.(2(2"?3EO& :;"
&T)0"?FBD5;7+BC8
E5;(O
*
&Y(2803/)
"
J"
J"!8>8"$'"?
BH1&.'&Y)!"?!)
"&(O
B
H)!5;7E>T)0" L
/"?7(2"
* "1"?="2:;3J"?1M&7<801"205;7>
56(O4/E'56:;5 2"2)(2"2)05;874&.714(O!78:;>85;(2&:5;7EBC80,9&'5;7-1E"2!5 =8"?1<BC!8,
*
56(OT&33\"27<'
801"205;7>8).B &M)!567>8:;"N'"$#%2U
&7&:6K%)!56) ,-"?!+1E) 'F)0'/E1EK9!"2)0"8!1"?!567>8)
0,F/)0
&.:;>88056!,
5;73E/E !"$#%')?U
EU
\
E
^
C
,-35;05;(&.:5;7A=8"?)0!5;>A&.!5;87-BJ'"[3&'&.3'&.)!5;7E>N3E"278,-"27E87<!" L
/5;0"2) &N(2!3/)'&
(?87AO&567)4,9&.7LK
5;7)QO&7E(2"2)4.BF3&.'&3E'&)0"2)2U
!"$#%')
"25 '"?[3&'&:6:;"?:8
*
5;(OG&!"
3&.'&:6:;"2:.(2803/)^B+,W/: '5;3E:;"
&
\"2"?7
/)0"21
3&!&3!&)!567>
3E'&)0"2)
*
BC"2&.'/0"2)?U
B
%
56(O
7
&33E:;5;"?)
Y
&-(?
(?87A''&.)0M'
!'&5675;7E>
"&.!:;56"2
* 8
,F/:6!5 * 801
&:687>
&
(287A!5;7L//,
!560'"?7N567
)D&Q'5;(?:;"?) & \8/E'E"
$
!&56,
"?:;14&) &F,-"&7) B
(2!3/)
$
&.)!"21G5;1"?7L!5 (2&.'5687MB 3&'&
,I"$'%1T!I(?87A'" #+!/&: &71T:;" #E56(2
8/T&330A&(O
3&.'&3E'&)0"2) Z567P&11E56'5687
" #+!'&($'56879BV(28,-3\8)!5 '5;7&:0/:;"?)2U :;&.'5687)
* "F(?8:;:6"2(?!"21X&
AKT'E"20"2)0"&0(O"20)
B
3"27E8,I"?7&EU
"N1E"?=8"?:;83\"21G&7T/7)!/E3J"?0=%5;)0"21Y,-"?'E+14BC8
* "E83J"H'& 'E5;) (?8!3E/) \"2(2,I"?) 3\83/:;& 5679'E"
\ &S(?8:;:6"2(?!5;87
$
(2803/) .B,W/: '563:;"D7" *
D56)(2!3/)[&)&:;0"&1EK
567L="2)Q'5;>8&.'567>
4 U
/)05;7>
7>:;5;)0'!&7)!:;&.'5687).B+!"Z)'&,-")!8/E!(2"!"$#% *
/ +&71
"Y3083\8)!"?1
(28,-3&!& :6"U X8!")!3\"2(?5 (2&:;: K
BC8!"?5;>87-: &7E>8/&>8"[&719&N(?8,I3&'& E:;"
)!&,I""?="27AU
!
)!567>8:6"
&:6:; *
)0K%7AO&($'56(
%$
)<BC845;1E"27A'5 (&.!5;87
* 8013&!&3!&)!"?) &)
"HBC8/E71I!&. 8/,I"$'%19(2&79&.71:;"
.B)!56,I56: &056K
'&7E>85;7>
BC08,
* "?:;: &.)
'!&7)
3&.'&:6:;"2:'!&7)!:;&.'5687)F!
(?8,I3&'& E:;" (?8!3\8!&EUD"
!"2(O75 L
/"2)T&33E:;5;"?1
'
+U
)05;>87E5 (2&7A':6K8/+'3\"20BC!,-) )0'&.'" B ]'"
'"Y3&.'&3E'&)0"
&/E>8,I"?7A'5;7E>G5;7+BC8!,I&.'5687YBC/)!5687
&:6>88056'E,
$
,-"?!+1
"$#%'!&(?!5;87
'&) U
"
D"D,-"?!%1)
H
E
1"$=8"2:683\"21
C
@
W
7
5 &
:6A&1)I7" *
)T&Q'5;(?:;"?)IBC!,
>8"?7"2!&.'"?)
&
\+1E5;"21F5;7
"
)
" *
&=.&05;"$K
B
& 2 ( 2
'5
%
'E5;)
*
"
K%35;(2&:;: K
)!567>8:6"F(2056!"2!5687
'&.!"2K%3\"2)
* 8/:61
!"?)!/: ')
* 8
5;7
* "2:6: 5;7
) :;&)0!"21E *
AK
"&(OS1E+(?/,I"?7A
(2:6/)0!"22U
)
8'E"D3!567(2563&:E(?!5 '"205;87NBC8 'E" )!"?:;"2($'5687
0"&)087& :6"
)!/,-,9&.!5;"?) @5 &.:;: (&)0"2)2U
D"
567I5673/E &Q'5;(?:;"?)2U 5;)
7&5 =8"
!$
'E8/>8
X/: '5 "27M/)0"2)[:;"$#+56(&:@(O&.5;7)D'
>80"&.!:6K
\"27" WBC!,
30+(?"2)!)?U
$
: '"2D!"2,-"2) \/
&.1156!5;87&:)!8/E!(2"?)WB
L7 *
E5;:;"
'M"$#+3\"2($F'&.&
"
)!/E,I,I&!5 &.!5;87T:;5 '"?'&.!/!"N)!/>8>"2)0!)
B5;7+BC8!,I&.'5687T)!/(OR&):6"$#+5;(2&: (?8"?)!5;7
7
'35;( [&.71
&.71
'"
1E5;)!(?8/0)!"
)0!!/($'/0"
B!"5673/E 1%(2/,-"27A!) )!E8/:;1<&:;)0F3:;& K-&.795;,-3\80'&7A 08:;"H5;7-(27L!"27AD)0"2:;"?(?!5;87U
83\"2
5 '9!"27)D.B@'8/E)'&71E)DB^56!)D&F1&KU
(27L!"27A 56) &)!"?1<87I!"H!"23\"?!56!5;87-B567EBC80,9&.!5;87
(2056'"?!5687
"?7
8/ ,F/:6!5 1E+(?/,I"?7A )0/,I,I&05 &'5;7F)0K%)Q'"2,
$42$')
" *
"?7 A&1E8,9&.5;7
X/E:6'5
)08/0(2"2) (?:;/)Q'"20)M&0!5;(?:;"2)
(
^
+
#
X/E:6'5
=8"?0KX1&K
(2"2)056=8" !"2&1& :6"<&/+'8,I&.'56(I)0/,-,9&QKRB
B@)0/,-,9&QK
) E: &)Q'"2[)0K%)0!"2,TU
) E: &)Q'"2D&)D&7M&($'5 =8")0"?DB@BC:;:; * "20)
AK8/E
56!5;7N'56) '"?)!56)&!" "2,
*
&.!"2)[&)H3&0HB 8:;/E,
1"2056=8"?1
5671"23\"27E1"27AZ,W/: '5 1%(2/,-"27A )!/,-,I&!5 &.!5;87N)0K%)0!"2,TU /!0"27A': K
" *
'&
56,I3E! =8"?)H5 ')D0"2)!/E:6')?U
% &Q
&:;)0P)! * "21
5 'P3&'&3E'&)05;7>X5;7EBC!,I&.'5687
*
"
)!/,-,9&.!5 2&.'5687<)QK+)Q'"?,
:;"?1>8"9!G>8/E5;1"-'"I(287A'"?7A
="27
(2&7
)!"?:;"2($'5687
7!"2-)!"?!5;/)
:;5;,-56'&.'5687
"
B/
)!/,-,I&!5 &.!5;87P)Q'!&.'"?>KS5;)W!&.
O& "-5;7A'X&(2(?8/7AN15;)0(28/0)!"-(287E)0'!&5;7A!)1E/!567>T!"-)!/,-,9&.0K
8/H)0K%)Q'"2,
V"2&(O
\"?BC80"D&71
)0"27A'"?7(2"
& *
*
5;7X5;)08: &.!5;87 5;71E"23\"271"?7A':6KMBC08,
"$#+30"2)0)!5;7)2U-78D" #&.,I3:6" &:6:)!/E,I,I&0K<)!"27A!"27(?"2),I&K4(287A'&5;7M'"
&X7&,I"?1
"?7A'56K
.?
D F @?
C"U >U
/)0"[BJ)!E80!"2Z1"2)0(205;3E!5;87))0/(O4&)
,I&0K
)0"27A'"?7(2"?)
L)!567(2"
8/ &:;56>87,-"27A
)!&,I"
756,I3\80'&7A>88&: BC8BC/E!/!"
5 E5;:;5 KPB'56)I(?8,I3\87"?7AU
)!/E!" &
*
7
B\!"$BC"20!5;7E>
/
*
E5;:;"
'E"
!
#
#
(O5J,9&.7
"27 .=.& Z&.71
X(
"? *
7
\" 567(2803J'&.!"21W567L!'E" )!"?7L!"27(?"DBC/)!5687
B !"27M(27L'&5;7E)D)!"?="2!&:
* 8 Y87R)!"?7A'"27E(2"IBC/E)!5;7R56)'T5;7(?!"2&)!"
#
8/-(2/E!!"?7A45;,-3:;"?,I"?7AO&.!5;87
* "G'%
'E""$#
&R(287)0"2Q=&'56="
E5;7&.!5;87E)[B 5;73/+3!&)!"?)5;7X8!1E"2[!<"27
* "?:;: BC80,I"?1N8/+'3/E2UD56) &.33!8&(OW3\"2!,-56!)@'" 3J8)0)!5 5;:656K.B&[75;)0K&.:;5;>7,I"?7A ,I%1"2:1%"2) 7 " J"2(?!56="2:6K-156)!(?!5;,-5;7&.'"
5;(2&:&7E1R7E87 >'&,-,9&'5;(2&: )!"27A!"27(?"2)2U
)!"?7A'"27E(2"2)[(&7
\"5;,-3! =8"?1
/&:6:6K9&)!)05;>87E"21
* "?5;>8A!)2U
!
"
LK<:;"&.!7567>W'"
7T5;7A'"?!"?)0'567>
)!5687I&:;>8!56!,
LK-/)05;7>N&
,I80"
/ )!E * "214!&.D)QK+7A'&#
>8"?7"2!&.'56874O&) %) '"
\"2:65;"?="W'&!"
3!%(2"?)!)
\"? * "2"?7T>'&,-,9&
B &:;56>87567>9'E"2,-"
)05;,-5;: &.!56KFBC/7(?!5;87 5;7)Q'"2&1X.B /E)!5;7E>-,I&7
L/"2)Q'5687X56)
\"5;71/E(2"21M567M&7M/7)!/E3J"?0=%5;)0"21MB &)!5687U )'&561
0"2(?2U
5;(OY"?:;5;,-5;7&.'"?)D)!8,-"N=.&:65;1T(28,
BC/Q'"?!,-8!" %!":;&7>8/&.>8"
7
BC/:6:@1"2)0(2!563E'5687MB
"!#$
%
@?
&)!"?14!"?3!"?)!"27A'&.'5687X.B !"2,-"2)
&: '"207&.!56=8"1E"2)!(?!563E'5687)DB '"
&33E!A&(O
* 8/:61P5;7E(2!"2&)!"956')!"2&1& E5;:;5 K
&:6>88!5 ',
&: U
!#$
%
@? Z&7&3E8!56(D"$#+3!"?)!)05;87)5;7 )08,I" )0/,
/ U D"2)0" 15;)0(28/0)!" &)0"21 (27)0!'&567L!) (&.7
&.5;)
*
&.B '"?2U D
5;) 7E"2>A&.!56="2:6KN5;7 /"27E(2"2)!" )!"?:;"?(?'5687
5;:;: \" )'&561
7.
>"27"?'&.!5;87R3!%(2"?)!)?U
56)[>8"?7"2!&.'"?1
* "X1
*
"(&7T&:6)!
3J * "20BC/E:\:;&7>8/&>8"
)0/(O
&W)05;,-5;:;&!5 K
56,I30 =8"!""$#+5 5;:656K-B^'"BC/
,I%1"?:]U ,
"?(2"27A !"2)0"&0(O
&)0"21T: &7E>8/&>8"H,-+1"?:;) &!",-80")!/E56O& :;"
)0!/1EK4.B )!/E(OG,-+1"?:;) 56)
&
DE"-0"2,I&5;7E1"2.B!5;))0"2($'5;7R56)BC%(2/)0"21
3!8,-5;)05;7>
87
BC/7(?!5;87M(2&7
+ &./,I" "$
BC8 :;&7>8/&.>8"
1E5;!"?(?!5;87<!-" #+3:;80"U
15;)0(2/)0)!567>4BC/E'/0"
* 0"2: &'"21
!
3&!&3!&)!567>U 3&!&3!&)!"?)&7E1G:;%(&.:(28,-3\8)!5 '5;7&:0/:;"?)2U
7G A=%5;8/E)HBC/E!/!"N!"?)!"&.!(O
,-"?'E+1YBC8" #%''&.(?'567>T(28,-3J)!56!5;87&:^:;"$#+56(2
(2,I3&.'& :6" (2!3/)?U
!
L7 *
J"?9B7" *
P?
S? B D S? S? /
$
U
!"2Z3\8)!)05 56:;56!5;"?)
U
30 :;"?,
7
7
5;7A!"2!"?)0!5;7>4156!"?(?'5687
!"?)!8/E!(2"?))0/(O
* "
&/+'8,I&.'56(&:6:6K
F J"4& :;"9!Y)!"?:;"2($
1"?!"2
J"$ * "?"27
[? 2? B D F&71
'56)W!/E:;"4&,-87>G,9&7AK
B D
F &71R'"I&:;:6 * & E:;"
B D
7L/,
\"2BD&.!>8/
!"2)0"&0(O56)'M1"$=8"2:683R&4,I"$'%1
(20"&.!"21
\"? * "2"?7
30+1/E(2"G3&'&3E'&)0"2)?U
\"2:687>S'S!"
3&.'&:6:;"2: (2!3/)
&)D:;&!>" )0(&:6"
0"2: &'5;7)
"?:;3)'M0"?=8"2&:Z)0!!/(
/)0"2)&<3&.'&:6:;"2:@(2,I3&.'& :6"N(?8!3E/)
)!/!(?"2)DBC8 3&.'&3E'&)0"2)2U 3!&)!"?)
$
567(2"Y7L/,-"208/)M,9&.7%/&:;: K
)!"?,9&.7L!5;(
!/:6"
BC8BC/+'/0"
(28/:61WB &(256:;5 O&.!" 'E"
*
5;(O
56)
= ? P?)!3\"2(?5 "?1X3&.'&3E'&)0"K%3\"U
/,I"$'%1
!"2
&43&'&.:;:;"?: * "?="2 :;"2&!7E5;7>X)0'0/(?!/'&.:
(2&7
*
)0K%7AO&($'56(-K%3\8:;8>.K
7E'"?3J)!)!5 5;:656KM56)'M/)0"W'"
BC!,
[
BC!8,
#+5;)0!5;7>X&33E!A&(OE"2)NBC:6"&075;7E>T)Q'0/(?!/'&:3&!&3!&)!"?)F&.11!"?)!)'56)
0"2)Q'!56(?!"21X!-&7
LKY!"
AKR3!"?1" 7E5;7>T'"?5;
,-"27A')?U
[
156!"?(?'5687T5;)H&
78 "$#E&,-3:;" !"(280!"2($,I&33E5;7>
,-"?'E+1S)08/:61
".U >U
8/,-"?!%1
B D F 2? I&71
X5;)"?7(2%1"21
AK
(O&:;:6"27>8"?)2U
,-5;7"'E"N>8!&7L/: &.!56K<B )Q'!/E(?'/E'&: !/:6"2)
B D
56(OS(287A'&5;7!"2,TU
*
B )0"27A'"?7(2"?)
3&'&3E'&)0"2)
B 3E'&)!&:" L
/5 =.&:;"?7(2"
:;"21E>8"
BD!"<)0"27A'"?7(2"?)
3&!&3!&)!"?)93\8)!"?)<&R7%/E,
'E"N3&.5;
)0K%7AO&($'5;(
'&.)'&:3&'&3E'&)0"2)Z"$#%!'&($'"21
:;"2&!7E5;7>4B )!/E(O!/E:;"2) ^)!5;7E(2"
'/E'&: )!5;,-5;:;&!5 K
%$
/ ,-"?'E+1BC8 3&.'&3E'&)0"D&( L
/56)!5 '5;7F5;1E"27A'5 "2) ,9&567:6K3'&.)'&:+:;"$#+56(&:
7>8:65;)!
L7 *
)'&,-"
L7 *
!"?="&:6"21
LK%3\"2087AK+,
!!"?"
" #+!'&($'5687
:;"?1>8")!8/0(2"?)&7E1X77 3&.'&:6:;"2:\(2!3\8'&EU
*
&.
$
(2:;&)!)05 (2&.'5687
* 801) ^56)!"?"2,-)7&.'/!&: !4/)!"
!
BZ3&'&3E'&)0"2)?U
&<)!"2"?1RBC3&!&3!&)!"
:;" #+5;(&.:!"?)!8/0(2"?)X30 =+561"
"87: K97"?"214'
/E9&7&:6K%)!56)
&.)
&)&I)!8/0(2"
'E"2)!"
BN:;" #E56(2
!"2)!&/!5Z&.)
!"?: &.!5;87E) 5;7<!"2)0"!"?)!8/0(2"?)[(2&7
!&.-'"M=.&)0I,I& 0
8!5 KSB7E8/7
567
801 3&'&
"$U[ * "?=8"? 'E"R1E5;)0'&7(?"
\"? * "2"27R'"
7E+1"?)=&.!5;"?)>80"&.!:6KGBC08,
87"
3&56'T&7E'"?2U
\"? * "2"27
3&.'&3E'&)0"2)1E"23\"271)87G'E"F)!"?,9&.7L!5;(
\"2:;7>8)2U
&.'&3E'&)0"2) "$#%'!&(?!"21NBC08,
"$H15;)QO&7(?"2) *
,-80"&,
E56'568/) >8A&:\5;) !
3&!&3!&)!567>-!/:6"2)H1"2056=8"?1GBC!,
8!1 "? )0K%787AK%,
P?
" ?
%
@? P?
7
?
.B
(2&7
56)
7E
BC8Q'U
>856="27
87
'"
(28,-3J7"27A')4(?8/:61
(2,I3&.!5;7E>
)!"?7A'"27E(2"2)
1&7E) & !
&
!"256
%
&:]U 56!!!"?1>8" %&7E1
B DW= Z"$=8"27
'8/E>8
3! :;"?,XU
"^"?"
/ U " #%
!
!
7
56,
,W/: '563:;"
!"$#%->8"27E"2'&'5;7
!I3E!%1/(2"(&.715;1&.'")!"?7L!"27(?"W3&!&3!&)!"?)
$
#
:6!"29BC89:;"27E>'
* /:;1
)08356)0'56(&.!5;87
\"W'M"$#+3&.71
:;"?="2: &7E1
" #+5;)0!5;7>4(?8!3\8!&
#
D56)W(28/E:;1
LK
)0
3!
BC8N"$#E&,-3:;" &561
&7 4B )!"$=8"?'&: !"$BC"2!"?7(2"'!&7)!:;&.'5687) BC8D!"N)!&,-"
/ U
8:6>8/"?!"
!/156"2) .B^3&'&.3'&.)!"2) &(208)!) )!"?="2!&:18,I&567)
#
, E5;7
4
X( "2 *
# #
7
4 / !"$=8"2&:;"?1M!&. )0"27A'"?7(2" :;"$=8"?: 3&'&3E'&)05;7> 567A=88: =8"2)D,-80"'&.7
3!&)!"
@&
"20"56&.) \"2(2,I"H(28,-,-87-!F"$=&.:;/&.!"[)QK%)0'"?,I) LK
*
8/E'3E/E[&>A&567)0H&
&3567"27E5J"$
B DW= &( %
/E5;)!5 '5687
BD!"256F(2,I3\87"?7LW)!"27A!"27(?"2)2U
#
H)!567>
* 8 RBCF"?="2QKS)0K%787AK%,
%
@? P?
3&!&3!&)!"
& 25;:;&K&.71
&I,-"2(O&7E5;)!,
!'&7E)!: &'5;7-"$=.&:;/&'5;7
?
,I"$'%1BC8W&/E',9&.!5;(->8"27E"2'&'5;7PB
"
7!"2567A'"20"2)Q'5;7E>M&33:65;(&'5;7
,I&(O5;7E"
)0K%7AO&($'56(
U
)!"?7L!"27(?"
=%5;1567>G)0"?="2'&.: =8"20)!5687)
P? 156!"2($'5687P5;)F&
)0K%)Q'"2,-)(?8/:61X"?,I3:6 K4)!/(O
'&.4!"24)QK+)Q'"?,
.B
3&56
3&.0'"207
&G)!/ E)0'5 '/E!5;871+"?)W7
&)
"
>"27"?'&:65 2"[:;" #E56(2
&43&!&:;:6"2: (2803/)2U
)/E) '5;7E1/(2"&N7" *
8!1
!"?: &.!5;87E)2U
)!)0/,I"'&&
/(O
* "RBC%(2/E)!"21
3\80'&7AWBC/E'/E!"<0"2)!"2&!(O
B[&
BC!,
J"T3&!&3!&)!"?1
&-)QK+7E87AK+,
'56)<'"?)!56)
3&!&3!&)!"?)
+&:;:6 *
U
%$
3&.'&3E'&)05;7>
&I3&.'&:6:;"2:V(2803/)2U
P? '"
5;(OX'"N3&5;
*
'"Z5;1E"27A'5 (&.!5;87.B /)!":6"$#+5;(2&:V0"2)08/!(?"2)D'
M5;)"$#%!'&($'"21
A=%5;/)!: K 'E"-1E5;)0'&7(?"
BC"&.!/!"?)B !"N!!"?"N'
/^(2803/)^(&75;7+BC8!,
56(OX(?8!0"2)!3\871E)[(?:;8)0"2:6KI'
AK 3E'&)0"F)!/ )0!56'/+'5;7X&.33:;56"214567X&
18,I&567
/ %56(O +&71
* 801
BC8
8
& *
* 8!14
&7E14(287A'" #% 5671"?3J"?71"27A[B &)!5687U
7
/-BC/+'/0"
* 8
* "
*
56:;: 567L="2)Q'5;>8&.'"M'"T5;7E1/(?!5;87
3&!&:;:6"2:V&71T(28,-3&!& :;"(2803/)DBC8 'E")0"27A'"?7(2"N!" *
B>"27"?'&.!56=8"T,-+1"?:;)
!56!5;7>
'&) U
BC!,
&
"!
# 2 . - ( 2
)2 5
0'56(2:6"
' *
7
7
&=8"
AK<'E"
.5 * &) !"?3J8Q'"?1N'&. & :6"&)Q
(? 1E5;"21
(&./)!"?1
567
!"?(2"27A
\8: &
8
$
"$=8"2QK!5 (2"
'&'805;"2)F5;7
/E'
,I&7AKY3&.!5;"27A!)N"?!"
BC05;(2&
&71
\"
=+56!/)?U
=%56(?'56,I)@.B+!"8/E !"2&
5;7
[>A&7E1&
B &<"?,I80!&.>85;(BC"?=8"?'&.&/E'E8!5 '5;"?)[BC"2&,I& K
X& /E!>
:;%+1)!&,I3E:;"2)BC08,
5;7E>MBC08,
* "2" L)
3\"283:6" 567!5;) 78Q'"?!7
&.F'"
&0"
*
%
56(ON&.)@3!%1/(?"21N!"2:6: '&:;" :6"2"21
\"2567>
"?7L!"20) BC + 5;)0"&)0"
*
7
'T56>8 )0"2(?/!5 KY: & \
87A'08:D&71
0"?=8"?7A'5;7
567
':;&7AO&EU
7A="2)0!5;>A&'80)
(&./)!"
AK4"&0:6K97"$#%
*
"?!"
'E5;)
* "2"
)'&.5;1
'"?)0!)4,9&K
5;1"?7A'56B K
'E"GBC"?="2 )
* "?" U
DE"?KT)'&561M)!"?="2!&:
3\"2!)0877"?: @)0/>8>8"?)0
!/)0"21
"?:;"?,I"?7L!)
5;7A=8:6="2,-"27A
B !"8/E E!"&
B &4,I"?,
567(2:6/1567>W'"5;7+BC"2(?!5;874.B ,-"2156(&:
J"?BZ'E"WB &,I56:6K
7 56:; =%5;05;1&" '"WB &,-5;: KMB
4
=%5;0/)!"?)H!&.
\8:;&-&.71 X&/E!>
5;7E(2:;/E1"2) !"
!O&: B M
B'"
3\"283E:;"
H>A&71&7
)0K%,-3E',I)
&
&M:;"&.)0
"?3
-(25;&:;)BC08,
"
!"20)T& ="
8)0356'&:;) *
'E"
H>A&71&
5;7
3\"205;)0"21
56!
*
87E"
)!5;,-5;:;&
F3\"283:6"[& ="156"21<)05;7(?"
E"2!"
1%(?!8!)
\8: &=%5;0/)
"2)QO& :65;)0T56)!8:;&.'5687
$
[>A&.71& Z&7E1
8/E !"2&
%$
* &) !)Q 5;1E"27A'5 "21I5;7
&)
)!567(2"
&.!"21
B "25 '"?=%5;!/E)(?87A'567%/E"2)
5;7
/3
["&.:6'
%
!>A&.75
'I:;%(&:
* &!1E)2U
.B'"N"2,-8!0&>856(BC"?=8"?=%5;0/)!"?)'&
BC!56(&EU
80:;1
&="!!5;"?14'
!"
56!X!"F)05;( X&71G!9!/E)!G!"2,
*
&=8""2,-"20>8"21T5;740"2(?"27A1E"2(&.1"2) J7.O& : K<567
5;7
&.
)0"?="2'&.:D'"?
87E>8
78Q'"2&)0
87>8F&71
'"
*
/1&7
D"
)!5 '"2)?U
"20"
$
\'IB *
!)0
E5;(O
)0/)0'&5;7E"21
:;%(&: ,I"?7
* 8 L567>T&7
& &.7187"?1<>88:61I,-5;7E"[&=")!/ J"20"214&N)0'"2&1EK-)0!!"2&,
,-5;1
7
["2&:6!&.71
X5;7E5;)0!0KY.B
\8: &I&71 X&/E!>4&0"N!"F,-8)0[:;"$'&.:
#
'E"(2"?7A'"2 B' *
&'5;7X':;1T!"2)05;1"?7A')!4&=88561G156!"2($(?87AO&($
\8!1"?
"23
U
)05;7(?"
8,-"U
747"[(?:;/)Q'"? B@L/E!) 7B &ZBC!8,
=+56!/)
-(25;&:;)<)!&5;1
)!"?(287E1G8)0356'&:8
.B !"
I3E! & :6K9(&0"21MBC8D5;7EBC"?(?!"21T3&.'56"27A')?U
*
E"&: '
&.[&
T15;"?1
*
/:;/M8)0356'&: * "20"N7L/0)!5;7E>-)Q'/1E"27A')
=%5;!/E)!"2)?U
.B G& /!>=%5;!/E) 5;7+BC"2(?!5;87E) )05;7(?"
EU
0'56(2:6"
78/+ 0"& YB &T,NK+)Q'"?0KR15;)0"&)0"I56)
\8/E
3\"283E:;"&=8"156"214BC!8,
H"&: '4"
[>8&71&
!"?3J0'"?1U
(2"27A!"2!"?1P87
/:;/
'"-78Q'"?!7R' *
$
&7X&) ]K8"?H/7E5;1"?7L!5 "?1X1E5;)!"2&)!"
#E3\"2Q') 5;7(?:;/1567>F I(?5 &:6) BC08,
)780!"207
[>8&71&7
+ 56)0'05;($87
T5;756)0'QK-B [
"2&:6!<)'&561<87
705
'"
($
DL/0)!1&K<!&. 4
8!:61
["2&:6!
567T7E80!"207
/E:;/U
H>A&71&+U
!>A&.75;)!&.'56879:6"?B BC
'5;7A=8"?)0!5;>A&.!"H!"
N(&)0"2)
7B
8/E !"2& U D
"
B@!"156)!"&.)!"&="
J"?"27
K+,-3E!8,I) 5;7(?:;/1"HBC"?="2 ,F/)!(?:;"3&5;7) &71
&7L/)?UDE8)!")QK+,-3E!8,I) &=8"
:;"?141+($'80) '
BC"?="2 \.B *
7
56(OT!"
J"?)0
$
DE"
L7 *
0)0[1"&.!X%(2(?/!0"21X87
Y&.1S!"2(?"27A': K)0"2Q=8"21
*
!"?3J0
&0"
)0'&.'"?)H!&.
5;7
5;7T&7M"V8Q
'
U D
E"=%5;($'56,
5;1"?7A'56B KI'"
)0"27A '
, "?3/ :65;(9.B 87>8U
8/E!
&0'&( L)2U
'&.'"?) BC8^'"2)Q'567>
!"2& MB "?,I!!&>85;(BC"$=8"25;)
(2"?7L!"20"21
87X!"780!"207G' *
7
[>8&71&7"2&:6!N&./E'!56!5;"?)^&!" &!':65;7> ![(?87AO&567&7N/E 0"& )!/)03J"?(?'"?1F'
\8:;&Y=%56!/)
AKS'"T1"2&1:6K
*
56(O
!
&)
L5;:6:;"?1
(2/7A'0KUD" 5;>8E:6K(?87AO&>5;8/) 156)!"&.)!"
56!)D=+56(?!5;,-)
!
156)!"&.)!"
E:;"2"?1X!91"2&.'U
/E-1%(?!8!)
BC"&.
7 '/
156)!"2&)!".U
7S&>8"?7(?K
BC!56(&[&71F!" [7E56'"?1
0'56(2:6"
DE"W8/E
&.71
* &)0"23\80!"21: KM&-)08:;1E5;"2
,I&7AK4!"2 =%5;($'56,I)D&="N:656=8"?1M7"& !"&!,NK
:;%+1N)'&,-3:;"?) &=" J"?"27
#
'",-8/E! %78)!"
J: &EU
G& E/!>-&71
"?3
:6"2"21E5;7>FBC08,
)0/)!3\"2($D'& '"1E5;)!"2&)!"56) &W"?,I!!&>85;(
+ "?,I%(2!&.'56(
'"
!&.
BC/Q'"?
,I&7AKS5;7
&I:6"&)Q
5;(O
*
3J"?83:;"M567
.B
/E:;/U
\"(2&/)0"21
!"T780!
.B'E"
! ." 8/+ 567!" 1E5;)0!!56(? B /:;/ (2&/)0"2)
3\"283:6"F&.!"
%7E *
7X'-&=8"W(?87A''&.(?'"?1G'E"
0"2,-'"?W=+56:;:;&>8"2)F,9&KS&="X156"21
\"?BC80"M!"?K
(2/:;1M>8"$[,-"21E5;(&.:V"?:;3U
J80!)
'YO&( L:6"<'"M8/E !"2& & ="
\"2"?7
&,I3\"20"21
,-"2156(&:AB &(?5;:;5 '56"2) &.71F'E" " J"2($') .B&[0" \"2:+&(?!56=%56K
'E"
["2&:6!
8!:61
"
!>8&75 2&.'5687
'E"/E 0"&
&=8")0"27A B &($
B&.1" L
/&.!"
AKP'E"4: &(
567N'E" !"?>85;7U D
E" >8 =8"?!7,-"27AZ&.71
71567>F,-5;)0)!5;7)!
/:;/-'N5;7A=8"?)0'56>A&.!"
/+[)0-B &.D&=8">856="27T:;560':6"3!&(?!5;(&.:"2:63U
K+,-3E!8,I)ZBJ'"H,FK%)0!"2QK
#
$
'E"<,I/E' 7E8)!"4&.71
&7L/)2UD56)
[>8&71&&71-,I"?15;(2&: -(25;&:;))!&K
5;:;:67"2)0)5;7(?:;/1E"
5;)'"
'"$K
$
!)0
BC"$=8"? %,W/)!(?:;"
3&567)&71
0"2(?8!1"?1S)!/)03J"?(?!"21
1N7EZK8"? L7 *
*
:;"?"21567>BC!8,
\8: &T8/E!"2&567
'E"H1E5;)!"2&)!"H!"2&(O"?1
/E:;/U
!
&=8"
/E!"20"F&)
J"?"27
&
\"2"?7R3&)!)0"21
LK
567A'"27E)!"F)03J"?(2/:;&.'5687T5;7X!":;%(&:@30"2)0)'&[!"N=%5;0/)H(28/:61
[>A&.71&7
M&=8"
*
!"?(2"?7L!:6KY0"?!/!7"?1YBC!8,
$
+ "2,-+(?'&.!5;( , "?3/ :65;( .B 7>8U 7E" B'" !)Q=+56(?!5;,-)
'E"
* &)[0"23\80!"214'
\"
&-)08:;156"2 *
+ &K%) : &'"2 &
+ /05;7>P!"
)!"?0=%5;(?"
BC8:;:6 *
* 8,9&.7
'"?5;D&7E1)
B &.
" *
/EH:;&(
5;74'"
)!&,I"
5;7E)!/0>8"27($K
7"?(2"?)!)!5 '56"2)
* &.!"2[&.
5;7
5;Q'S567S&
BC!56"271E)
*
"?3
3\8)0!5;7>U
8)0356'&: 567
&.!!"271"?1
E"2
/E:;/U
/05 &:
!"F156)!"2&)!"F&.B '"?
"2DBC/7E"2'&.:]U
8)0356'&: .5;7(?:;/1E5;7>
/:;/
)
7%/E!)!"?)'!"2&.'567>!"D)!56(
* !)!"
<8)0356'&:;)
\UD"
<,-8!"
5 '
1"2&: *
3\"283E:;"
&1
56'R'"I8/E !"2&
(2:6'E5;7>U
AK9!"B &(? !&.
&)0"21T5;7M7"256>8 J!5;7E>
*
&0"I)Q'!/E>8>8:;567>M'
&1" L
/&.'"30'"?(?'5 =8"
:;5 "
,9&1E"
&.
H8)!3E56O&.:)QO&
AK4!" J"?:;)
&
3J8)Q'567>8)567
\"21M5;7-'"?5;=+56:;:;&>8"2) \"?BC80"['E"?K<(?8/:61<>8"? 'W,-"21E5;(&.:J"?:;3U
&'/01&KP&:687".U
DE")056!/&.'568745;)
&71
)0/(O
&!056=.&:;)(287A'567L/"W'T&0!56="
&.)!5;(
E1E5;"21F87
*
+ +($'80) \"2:65;"$=8" '"$KG(?8/:;1X&=8"N(287A'!&(?!"21
3\"283E:;" &="D15;"?1
&.B !"2W>56=%5;7>
BN"2<B &.,I56:6K
,-56!!"21R87
* "?" L)
!"2 =%56(?'56,I)&=8")0/(2(?/,
EI&.1X0"2(2"?7A':6K<!"?!/!7E"21XBC08,
:;"?1P'Y1"2&.'
5;7>
* "2!"F&:;)091"2&1U
* &)!567>
)!:;156"2!)
/:;/456)D&.D!""&.0
B &
]K8"&.
3\"283:6" 567!5;) 78Q'"?!7
[>A&7E1&
/1&7VU
& 5
DE"2,-"
7
' *
7
(&./)!"?1
&=8"
1E5;"21
567
J/E
[>8&71&EU
.5 * &) !"?3J8Q'"?1N'&. & :6"&)Q
!"?(2"27A
\8: &
AK<'E"
(? 8
3\"283E:;"
* "2" L)
X& /E!>
B &<"?,I80!&.>85;(BC"?=8"?'&.&/E'E8!5 '5;"?)[BC"2&,I& K
\"
=+56!/)?U
&="R1E5;"21
BC08,
&7
%$
&) ]K8"$M/75;1E"27A'5 "21
156)!"2&)!"Y567
78Q'"?!7
H>A&71&7
\"(2&/)0"21
B '"
E"&: '
AK<!"
!
&/E!8056'56"2)&.!"
\8: &F=%56!/)
1"&.1:6K
&.0':;567>9!T(?87AO&567R&7
56(OX&.)
*
8/E E!"&
L56:;:;"?1M&.H:;"2&)0
)!/)03J"?(?!"21
3\"283E:;"5;74!"
!
780!
(?8/7A'QK8U
DE"2,-"
:;%+1)!&,I3E:;"2)BC08,
5;7E>MBC08,
$
"$=8"2QK!5 (2"
'&'805;"2)F5;7
/E'
=%56(?'56,I)@.B+!"8/E !"2&
5;7
,I&7AKY3&.!5;"27A!)N"?!"
BC05;(2&
&71
&0"
%
\"2567>
"?7L!"20) BC + 5;)0"&)0"
&.F'"
56(ON&.)@3!%1/(?"21N!"2:6: '&:;" :6"2"21
*
7
*
'T56>8 )0"2(?/!5 KY: & \
87A'08:D&71
0"?=8"?7A'5;7
567
':;&7AO&EU
:;%+1N)'&,-3:;"?) &=" J"?"27
5;7T&7M"V8Q
'
5;1"?7A'56B KI'"
)0"27A '
8/E!
BC!56(&[&71F!" [7E56'"?1
'&.'"?) BC8^'"2)Q'567>
156)!"2&)!".U
DE"2,-" 7A="2)0!5;>A&'80)
(&./)!"
AK4"&0:6K97"$#%
H"&: '4"
[>8&71&
)
*
!/)0"21
* "2"
/:6/'
)'&.5;1
'"?)0!)4,9&K
5;1"?7A'56B K
'E"GBC"?="2 )
* "?" U
/:6/
+ 5;)0!!56(? 7
DE"R>="207,I"?7AT&71
&
'E5;)
#E3\"2Q') 5;7(?:;/1567>F I(?5 &:6) BC08,
78Q'"?!7
,-5;)!)05;87E)N'
"?!"
'"
7!5
80:;1
'"
($
"
!>A&.75 2&.'5687
567A=8"2)Q'56>A&.'"I'"48/+ 0"&
!>A&.75;)!&.'56879:6"?B BC
!I567L="2)Q'5;>8&.'"!"
H"&: '
["2&:6!
8!:61
/E
)0
8/E E!"& \U
$
&="Y)!"27AMB &($
B &F& ="M>856="27S:;5 !!:;"
715;7E>
3'&.(?'56(&:
"?:;3U
DE"2,-" 4
!O&: B M
B'"
3\"283E:;"
/:;/M8)0356'&: * "20"N7L/0)!5;7E>-)Q'/1E"27A')
-B &
T15;"?1
*
*
.B !"
=+56!/)
)05;7(?"
"23
5;7
I3E! & :6K9(&0"21MBC8D5;7EBC"?(?!"21T3&.'56"27A')?U
3\"23:;"&="N156"21T5;74)!35 O&: E5;7E(2:;/E15;7>
7L/0)!"2)H'0"&.!5;7>W!"
)!5;( U
87E"
DE"2,-" 7X/E 0"& 9B&
DE"N8/+
,FK%)0!"2QKM15;)0"&)0"56)D(2"?7L!"20"21G7T!"
0"& <.B "?,I!!&>85;([BC"?=8"?[56)D(2"?7L!"20"21
DE"2,-"
874!"
780!"207T! *
7XB /:;/U
780!"207T! *
7XB
/E:;/U
K+,-3E!8,I) 5;7(?:;/1"HBC"?="2 ,F/)!(?:;"3&5;7) &71
K+,-3E!8,I)ZBJ'"H,FK%)0!"2QK
:6"2"21E5;7>FBC08,
#
'",-8/E! %78)!"
&.71
&7L/)?U
5;:;:67"2)0)5;7(?:;/1E"
BC"$=8"? %,W/)!(?:;"
3&567)&71
U D
E"=%5;($'56,
* &)0"23\80!"21: KM&-)08:;1E5;"2
#
:;"?"21567>BC!8,
'E",-8/E! 7)!"&71X&7L/)2U
DE"2,-" DE"
$
0)0[1"&.!X%(2(?/!0"21X87
-&1T!"?(2"27A!:6K4)0"20="21
*
*
7"[B!"
$
"?3
+ "2,-%(2'&'5;( , "?3/ :65;(B 87>U
5674'"
0)0 =+56(?!5;,-)
-&1T!"?(2"27A!:6K40"?'/E!7"?1XBC!,
*
W156"21I87
)!/E(O
&
3J)0'567>U
"23
* &) 0"23\80!"219!
\"&N)08:;1E5;"2
- )
# >5;(OA'"?5;7
5
"@/56)
/>"27"G&71
'&=.&7EU
:;&!>"G3:;&5;7 ]'" #+9(28:6:;"?(?'5687)?U
% @? B : " 7&5 &7
&.)!"2
#
&.! *
) AK8U
"
&.!(O" *
) LK
X&!56"
B D
"
7'&.7
T"2: &.,I"?1
EU
NU.7 5;7&: ,
"@"$BC"
+"?:;:6"
F >?#
X5;(O&"2:
)!"23E
/,9&.!5;"
# (O
"
@8/5;)0"
"
A=%!" V&71
&8&K"27
[&'&:61
"$=%5;7
, "2>8567&&.71
& 256: &K
"
X5;(O&"2:
" P? @"2
G&7A!&EU
"@"?)
"
& 256: &K
D
,
D
'&
"?>85;7&
W? *
%"2,-5;"
"
& 256: &K
:6&1&.1U
#
+ & =%561
,I5 ' X&71
"?(O756(&:
+ &.7
:6&1&.1 &7E1
&7E1"@5;15 !&
8!1&.7) & !
&
B >? A = $ B "
U
!"2)0)!"?)D1": H756="2!)056 1"
U
#
"?156!8!)?U
+ &.'& 87)080!5;/,
T87A'!"2&:]U
EU
H756="20)!56K
2? B "@56:;:;5;&7 "@"2"U
!
[)05;7>:;"$#+56(&:H(O&567)9BC8-'"$#%M)0/,
"! P?$# = %$ %
&.':6"2"?7
X( "? *
8!1E"2!567>45;7G,W/:6!5;1%(2/E,I"?7L7" *
+
!"?3J0
B F A U
#
B $ %
B , "?>85;7&X&71
2? E3&>8"?)
>5;"2)[BC8)!"?7A'"27E(2"
4 :6756!) AK
H"211E"2!5 Y=&.7 , 5 0 7
&71
.? B %" ,I&05 &'5;7U 7
U
J"2QK
"?77)QK+: =.&75 &+U
"
A&
"^&
8E7
'!&7)0: &.!5;87U
U @
" 5;7E>8/5;)Q'56(
.B
75;>8A / &7E7"
56"23\"27 0+(
/01EK
+ &>8"?7&5;)
? B DW=
5;(O&!1
8 L)083U
# # ,
A B F 4 U
,9&(OE5;7"
&15;&
+ &=+561
#%!'&($'5;7E> 0"2: &'5;7) BC!8,
@? &:6: &.
O&'5;)Q'56(&:
"23\80
7 *
? B %
7
F ? 2? 3&.>8"2)
/05;7
&7
U
7VU
%U
"
7EBC"?!05;7><)Q'!&.'"
)( ?
))0/,-,9&05 2&.'5687U
+U
+U "@"&.!7567>G'X3&!&3!&)!"
7P/7)0/3J"?0=%5;)0"21
&.33!8&(OG/)05;7>-,W/: '563:;" )!" L
/"27(?"
"
, "?>85;7&S&.71
& 256: &K
"
& 256: &K
, "?>85;7&
&.!:;"?"27
X( "? *
7VU
U
+ .? B % 3&'&:6:;"?:V(2!3/)?U 7
#
&.'E:;"2"?7
T( "2 *
#+!'&($'567>
3&.>8"2)
7 &71
3&'&3E'&)0"2)MBC!8,
X56(O&"2:
:;&1&1U
:6/,
=+05;,
(?
"
U
%
+ U
* "2 L&.71
0"?!8!56(&:L)0!!/($'/0"
? %! P?$# =
%
7
(?!2U 0 *
7
"$'"2
EU
% # '&7:;"$K
+ "?:;:;&
D"F,9&.!"2,I&.!5;(2)
!5;87VU DW=
"?7
'"23E"27
7 UV&.71
DW=
56!
*
2?
U
>? @? @? B !"?: &.!5;87)
, &.,I87
BC!,
!"
)!!&"2: U
* 8!:61
A @? B %
5;1"
*
* " VU
F 56"?!'&
+ "2:6: &
567(2"?7L
56"?'!&
B +%1,I&7U
!"2(O7E5 L
/"2)HBC8D: &.7>8/&>",I%1"?:;5;7E>U 7
/
U
, \"2Q
&.71
B )0O&'5;)Q'56(&:@,I&(O567"!'&7E)!: &'5;7 %
8)!L/&
&71G/7: & J"?:;"21X1&.'&
X5 "23\"
@? EU
7 U
7EBC80,9&.!5;87
.? B % .? B % &7N!"$#% )Q'!/E(?'/E!" \" 567(2,I3&'5 E:;"
U
#%''&.(?'567>S3&.0'"?!7)4&.71
7 ! F #! ! P?$# = @? B % # ! 3&.>8"2) EU
"?!>8"$K8U
U
U
U
8, 5675;7E>I:;& J"?:;"?1
EU
.? B %
5 '
# X5 '(O"?:;: U
% , &
U
3&>"2)
>8&
*
05;7
8,
P? 8/& K8&1
&71
!'&5675;7E>U 7
%
3&.>8"2)
EU
BC/E)!5;7X567<'"(287A!"$#%HB ,W/E:6'5 1%(2/E,I"?7L )!/,-,I&!5 &.!5;87U 7
EU
3&>8"2)
.? B % &:;56>87,-"27AU 7
T"2!(?"2?U
&'&.,I"$'"2["2)Q'5;,I&
U
7G"2,-35;05;(&.: )Q'/1+KGBZ)0,I%!5;7>
+
.? B % 3&.>8"2) EU
8,-) AK
A&.,XU
: &.
="
%U
FU
"^&
# :;/>8
#
J"?0
X56(O&"2: U
8:6:;5;7E)
X56(O&"2: &71
%$
U +
, + &:6"
U
+U
D"
%
B X/E'87
/ :;56)!"?!)
8'&,
4 ,-%1"2:6)FBC8
F B .? B $U
"^&7>
!"?)!)
+
"2&0K
&,
!"?)!)?U
)
!561>8" A = ? S?
L5;:61"
"
7&,-"21S"?7A'56K
U
)
@??
%
)0O&'5;)Q'56(&: 3&!)05;7>U
E
U
@? %
X"?!"2 X"&
,I%1"2:6)BC8
B $U &., !561>8" H756="2!)056K
D
+U
U
H7)!/E3J"?0=%5;)0"21
5 'I:;"$#+56(&:
EU @
" "2&!7567>'!1"? '567>8)2U
5;7E>8"2?U
:;"$#+56(&:65;)!"?1
EU
&05;)2U
5 !O&K["?156!8!)l? D A B ? % '& U
805;( 56: L )2U
E
3&>8"?) EU
3&>"2)
567>8"2?U
+U
5 &. &71
!
7"?1"2
=.&
D B
+
(20
75;>8A 0"27"
"?=%5;7
"2&/>8!&71"
.? B % B %
#
&75;"?: G&0(2/ &71
B ? = U
"?7 0
5
&,I&1&EU
56,I3\8QO&7(?"FB:6"$#+5;(2&:;5 2"21X)0K%7AO&#Y,I%1"2:6)[BC8[7&.!/'&: : &7E>8/&>8"N>8"27
.? B % "?'&.!5;874'&) L)2U 7
1"
8'&., )!)0+(?5 &.!"2) 3&>8"2)
DE!"2"I>8"27E"2'&'56="
U
%U
D [&:
A B U
J"?02U
+ &/,-"
(O&356!" L&.71
(?: &)0)!5 (&.!5;87VU 7
!/E)!"
.? B %
.? B % 7
"@"20"2T&71
, W
? * B $ %
B &5 &/) &)
'"$#%H!"?/)!".U 7
( ?
8:6:;5;7E)
"
\"2Q
5;:6:;5 &.,
&>/"
$U D
"
7105;"27E7"
S? , &/:
)0/!567>
8"?7
7
!: &/,
!"?7(2"
*
B ?
S?
87A=8"?7A'5;7&:;5 K-&71I(287A'!&)0!)3!&>A&,N'5;(D3E!5;7E(25;3E:;"2) *
(?87)0" L
/"27E(2"2)?U
B B
U
, \"20&.71
#
$U @
" 87E>8,9&.7
" *
8: BC>A&7>
FU
8 W
U
U
+ !"2)0)!:6"22U
5? U
B A +
+ '&.)
G& \U
U
? % ? D D 2?
U'E"2)!56) G&.( L/&05;" [75 =8"?!)!5 K EU
+ / \8/"
& :;"T&71
&.'E:;"2"?7
T( "2 *
7U
U
+U
U
,-35;05;(2&:;: K
"?)0!5;,I&.'567>Y8!1E"2
!%(2"?"21567>I.B !"
!%(2"?"21567>I.B !"
$
!)Q[1E+(?/,I"?7A[/E71"20)0'&71567>I(?87EBC"?!"27E(2"
#
&71
E5;:;563M&71
# =
:;&.1&1
[56!)QU
!&"2,-"
B " %
T5;(O&"?:
:656=%5;"?
8:;:65;7U
+U
H)!5;7E>
&)I&
'E"
&."2:
"$ 2"?
/
* "
? B %
U
%U
"&.H)QK%787AK%,FKX&71M:;" #E56(&:V(O85;(?"U
D
424 U
, "2>8567&
" & ?5;:;& K &7E1
&.!:;"?"27
"
T( "2 *
01"205;7>Y(?5;!(?/,-)0O&.7L!5 &:6)BCF,W/: '5 1%(2/,-"27A)!/E,I,I&!5 &.!5;87VU
1/E( / U
=88:6/,-" 3&>"2) 1,-871)
1/( / U
0"2)!/!(?"BC8 :6"&075;7E>F!"$BC8!,F/: &.!5;87E) &./E'8,I&.!5;(&.:;:6KU 7
)!"2(?871X1+(?/,-"27AH/71"?!)0'&71567>-(287EBC"?!"?7(2"
+ /(?: &K8" -7 :;80"27(?" 7!&7(25;) =87
:65;7>/5;)Q'5;(
(287
EU
A U
/E)0'!&:;5;&EU
)Q'!&5;7A') BC8 (?87A'"?7L 3: &7E75;7>N5;7I>8"27"?'&.!5;87VU 7.? B %
3&>8"2)
2? = C? % B $U
7U
U
.? B %
7
#!
#
:;&.1&1
%"2,-5;"Y&.71
&.!:;"?"27
)0/,-,9&05;"?)BZ,-"2156(&: &Q'56(2:;"?)2U
D
7 56: &.!=.&
B
'&
.? B %U
7
U
%$
"?7"2!&.'567>S3&.!5;"?7LM)03J"?(25 (
! P?$#
=
D 2? U
U H=LKU
U&71
% D
? B %
, U X( "? * 7VU
U
)!)05;>87567>W'56,I" )QO&,-3) !
%!
P?
# =
"?="27A
DW= P? (2: &./)!"?)2U 7
.? B = P? D
7!"?>8"
&:;"
.!':6 U
56:;:;5;&,
* 801
)0"27)0"
@? &:;56:
5;:6:;5;&,
"27E7"?!
&71
15;)!&,
J=+5Z&.71
5;,-!%1
#"
:;"25 ',I&7
) LKU
+U
5;:68)!83E5;"X/71
8 S87
)0O&'5;)Q'56(&:
! P?$#
% =6= ? B ? % %
7
4
3&>8"2)
&.:;:;561&K
&.:;:;561&K
308>8!&,
BC&:;56>87567>I)0"27A'"?7(2"?)F567
+
3&>8"?)
EU
K%(2:65;( 801"205;7>M5;)7E3 (?8,I3E:;"?!"U
U
P? B +U
:6"256!,9&.7U
%
5? $U +
U
X5;(O&"2: U
["?70K
, U&7E1
@5;:;&
X"?>85;11EU
B B U
.? B % %
U
U C? U
,I3&.7LK
8Q'87
B 2? = C? 8 \U
" *
B %2? D D
2? U
D
#
1 * &01
!7:;1
U
, / %&56K8&
X5;(O&"2:^&7E1
# &.>85;/
&71&
"280>8"
[&)'&.7U
X5;:6:;"2 @&71
+ &7
X8:61 =&.7U
EU
!"2)08/0(2"U
7
"@87>8,I&7U
8!1E7"?
&4,-8
.? B %
+U
# &.71&9&.71
(?87A'" #+!/&: L7 *
5 '80)
3&>8"2)
&.>85;/
%
%$ %U
U
3E8:;>85;(2&:;: KM&71Y)0"2,I&7A'5;(2&:;: KM"27&7(2"?1
&.'&
V"?56!)!(2056B IB /E
&! *
56>8/&.!5;87U
%/E!(OU
U
DW= @?
&.'&
U
+ &=%5;1
&7E1
.? F F $ B
E5;:;567>8/&.:V(2!3\8'&EU 7
% !# U
#
%/E!(O
"277"$'
DW= D
&:;"
!56!5 U
56:;8)08356"
,-"?!%1)<BC8
F @? %U
? + &7
X8:61 =&.7U
:;"21E>8"9&.( L
/5;0"21
%
%
BC!8,
U
705;(O567>I!"
'"$#%2U
.? B % 7
U
* 8017"$O&#+87E8,FK
&.35;0X&.71
%
"U
* &7) .&
= ? %
*
56!
"21
%
4
P?
4
%
V"?:;:;56>U
H"27QK
H5
"
V"2:6:;5;>EU
H"27QK
# ,
"
)
jA8U + U , "?5;1"?:
5;7P:65;7>/5;)Q'5;(
/ :65;)05;7>
)Q'!/E(?'/E!"U
8,-3&7AK8U
7
$
!)Q
* )0K%)Q'"2,-)9.B>8!&,-,9& = @?
jA8U + U , "?5;1"?:
, "?3J0I&71
/ :65;)05;7>
3&'&.3'&.)!"U
8,-3&7AK8U
7
$
!)Q
4 U 8E"2!"?7(2"&71I(28"?)!5 =8"&!,-87AK8U 7
DW= ? U 7L!"207&.'5687&: , "&.15;7>
%
UC7 :;%+1 8"215 '8
#
)0)!%(25;&.'5687
@?
" * &.
U
:;& =.&7E) &7E1 :;"2&"&. ) L5;7U EU + "?!"2(?!5;7> !"$#%
)05;,-5;:;&!5 KY =8"2 )080W3&)!)!&>8"?)
#+3:;805;7>G:;5;7E>8/5;)Q'56( BC"2&.'/E!"4(2,5;7&.'5687)N=%5;&
,I&(O567" :;"2&!7567>U 7 .? B % + U
&
"
/ U
%
!"2)0) 3&.>8"2)
U
D"M
VU
"?156!8
/ %
&56K8&EU
+
= @?
3/
H5
"?156!8
3E/ :;56)!"?1X567
&.)'&7
$U
%(2(?/!"?7(2"T&71P!'&7E)0BC80,9&.!5;87
&+U
3E/ :;56)!"?1X567
&.!!56)
%
%
P? %
U
&.!!56)
25 =.&)!)05;:;>8:;8/
&)05;:6"25;)
/E156!
&
"
25 =.&)!)05;:;>8:;8/
$
&)05;:;"?5;8)F&71
561"27A!5 (2&.'5687MB&1 0
"2(?!56=.&:)0(&:6"2) ["2&!)Q
G&.0'5 U
+
% #
[5671:6"
.? B % 7
+ 7&:;1VU
&.!:;"?"27
X( "? *
EU
* &.!1)
'E"M&/E',9&.!5;(
:;/E)0'"?!567>-&1 0"2($'5 =8"2)&(2(?8!1E5;7> '-,-"&7567>U
3&>8"2)
%
7VU
%U
4 U X/:6!5 3&'&.>8'&3EG)!"?>8,-"27AO&.!5;87Y.B " #+3J8)056!80KT'" #+2U 7
3&>"2)
U
+
.? B % 8/7
U
%$
(?: &)0)!5 (&.!5;7
.? B 3&>8"?)
BC!8,
+U
3!"?15;(2&.'"
&0>8/,-"27A9)Q'0/(?!/!"?)2U
7
[
=LK
EU
1E/&!1VU
*
!5;87E)2U W? !&5;,
:65]U
/E!8,9&'"2141E5;)!(?8/0)!">8"?7"2!&.'5687</)05;7>
B $ %
B +U
U
E
3\"2(?5 &: )!)!/E"N87
#+!'&($'567>G3&.'&3E'&)0"2)NBC08,
"
1E5;)!(?8/0)!")Q'!/E(?'/E!"!"?: &
U
&:65;>87E"21R(2803J8!&EU
X&)0!"2 )N!"2)05;)
U
801&7) .& !
&
"@5;15 !&
@? W? *
!"2
U :6/ * "2
#
/E"2,-5;7
&( %
#
EU
#
:;&5;7
B $ %
B 8:6>8/"20"
U
DW=
? %
B %
%
<(O&3
/ :;56)!"?!)?U
K%7AO&.>8,9&'5;(N&71X3&!&15;>,9&.!5;(0"230"2)!"?7AO&.!5;87)[B !"2!,
+
3&>8"2) 4
.? B % 05;)Q'5 &.7
%
5 !!!"21E>8" @&.71
(&1"?,I56(
!56)0!5 &7U
=.&05 &.!5;87E)2U 7
/E"2,-5;7
&( %
, 56(O&!1
: &=.&7)&71 /15 '
="2: K+7E"
4
+U
" ?8/ "?!,I&77U
U
#E3&7)!5687
.B ,F/:6!5 * 801X'"?!,-)BC85671" #E567>M&71Y0"?!!5;"$=.&: /)05;7>4,-8038:68>KT&71Y)QK%7L'&#JU
7
#
[7>KA&.7
5;7E>
"
D
[87>.KA&7>EU
"
& 25;:;&K
$ %
D
EU
.B 'E"5673/E
5;7E>
, "?>85;7&
3&>8"2)
4
D
'&
2? 1E+(?/,I"?7AU
U
X( "2 *
#
7 &71
#+3\"205;,-"27A')&.71
'&7EBC801
"2(O756(&:^0"23\80
&':6"2"27 X
("? *
7 .? B % U
/E156!
X56(O&"?:
:;& =.&7E) &7E1 7VU &.!:;"?"27
U
:;&.1&1U
EU
D
&7&.:6K%)!56)2U 7
[75 =8"20)!5 K
/,I,I&QK4>8"27E"2'&'5;7X'E!8/>G5;7A!"2:;:65;>8"?7A
[87>.KA&7>F&71
&7# T5;7 "27#
&.!:;"?"27
/,I,I&05 &'5;7"$=.&:;/&'5;7N,-"?!+1E)
= 5;7E>
.? B % U
(2/E0'5;7E>9&7E1
3&)Q'5;7E>
8:;/E, 5 & H756="20)!56KU
"
/E &.7193&.)0'" &)0"21<)0/,I,I&05 &'5;7U
X( "? *
7VU
EU
"@5;7E"&D)0"2>8,-"27AO&'5;7
%
% ! @?
? B % &.71G)0"2>8,-"27A[!"2:6"?="27(?"U 7
! P?$# = U
&7# T5;7 "27T&71
%
&.'E:;"2"?7
"
U X( "2 *
7U 01"27
)0/,-,9&05 2&.'5687U 7
8!3/E) !'&567"214!"$#%H>8"27"?'&.!5;87<BC
%U
[8/)0"
U
75;>L "?=%5;7 &.71&756"2: G&!(?/U
ULO&.!5;)0!5;(?) &)!"?1Y)!/,-,9&.!5 "2&.'5687
%"27A'"?7(2"N(28,-3!"?)!)05;87U 7 % 3&>"2) U
)0!"23R87" /356"2(
# " % $ /E:;5 &.7
U
&.7
"21"?!)0"27
&71
)0/,-,9&05 ?"22U 7
"^&
\=
5;:6:;5 &.,XU
"^&7156)
!
U
3&>8"?)
+U
%
L56:;1"
5;(O&01W&7E1
&QK
H J"?0U
#
"@5;7
567
" *
%
# "@5;7
U
)
"?7A'"2[5;7
" .&.7>U
% U +(OVU
# %$ ! 56: &1"?:;3E5 &EU
U D
E" ,I"2&)!/E!"2,-"27A B )0"20="2Z&>!"2"?,I"?7A
% $
U
' "(" )
%$ "
* [7L!!83\8:68>K
: L:;80"&7E1
U [
=LK8U
&71
- "
/
)+
U
EU
!"?)!)
#
& "?77)QK+: =.&75 &
! " # +U
'!&5;7& :;"W1E+(?/,I"?7A
"$=+567 756>8AU EU "?7"2!&.'5687 '&.-" #E3E:;85 ')-(2803/) &)0"21
:;"?1>8".U 7 % 3&>8"?) $ U
0"27"G&71
)QO&.!5;)Q'5;(2&: L7 *
"@"2"?)
[7E56=8"?!)056K4B
BCD(&.!"2>8805;(2&:1&.'&EU
"^&7>
%
+
U
"27U
'&7(?5;7"
,
,W/: '561+(?/,-"27A
%
"
)!/,-,I&!5 2"2?U
! $# . %$
U
7
U
[/E',9&.!5;(0"?'05;"$=&.: &.71G(?:;/)Q'"205;7>-B )!5;,-5;:;& * 8!1E)2U
3&>8"2)
H756="20)!56K
"@5;7E>8/5;)Q'56(2)2U
H"&.!)
'&
$ $U 71E5 &7&
7
#' "@5;7
& % % !"$#%U
"K887E)
87U
)0"&0(O
"
# G&0(2/
+
#
& * :6"?K
X(
K
(2&7
&71[567!56(O
WU
+(OL/E 2".U
AKM>8'&.3
EU
0"2)!)
&,
05;1>8"
7
#
G&)0)'&(OL/)0"?0')2U
%#
(" " '& !"$#% )!/,-,9&.!5;"?)2U 7
U [7F567 L/5;QK
'"?5;"$=.&:;/&'5;7U
)2U
U
3&>"2)
& / %
" # "(" '& &.71
"
H E/)0!"2,-3J'&: 3!%(2"?)!)05;7>MBZ7" *
"
B
!"?)!)2U
1E5;)!(?8/0)!"H)0'0/(?!/!"?) !
"? \"22U (28,-3J/71567>
3&.>8"2)
U
%
U X/: '5 1%(2/,-"27AD)0/,-,9&05 2&.'5687
U
U 08,
5;7A'
EU
'"7&.!/!"B,F/:6!5;1%(2/,-"27A
7
U
&.'E:;"2"?7
%
# %U D"
&,-"2)?U
"?156!8
5;:6)!87U
+
"^&/!56"
&756"2:L&71
"?8!>"
U
! $# . $ %
! $# .
X(
%
:6+"?1807 6U
& )0!'&($') ^" #+!'&($')
%
%
05;(
&
%
&756"2: U
G&0(2/
B5;7+BC"2!"?7(2"X!/:6"2)-BC!8,
>8'&,-,I&.'56(&:\83\"2'&'5;7)DE"7E8/7
#
!56)0!83"?
G&7E75;7>
15;)0(2 =8"?0K
EU
&7E1X,I&.'(OE5;7>U 7
%
5;0
$U &, E!5;1E>8" [75 =8"?!)!5 K
U
7E1"2 0
"2"?&.71
G&7E5
U
K8"2&!) 8:61)2U %
71E"2 0
"?"?&71
G&7E5
U !%1/($'56="
&7A!"2:]U
7
U N
U
&.'05;(
E3&>8"2)
"@56=.&7A
" &7>&71
&.71
"
7
\"-)'&561R7E"$#%U
87A=8"?!)!&.'5687&:^5;,-3:65;(&'/0"&71T'" :6"$#+5;(?87U 7
EU
7
# %" # *
E"27>U
$U [(&1"?,I56(
&
U
U
& &
&05;)
U
&.71
:;"
!"2)0)2U
%(2/E)-.B&.0'"?7L!5;87 * &Q'8/E
"?'"?
7)0!'&5675;7>
#
U G&.77
*
&
"?156!8!)
%
%
*' $ %
" :6/ * "2[(&1"?,I56(Z/:;56)!"?!)2U
X(
# "? *
7
% % % % %
U &.,!561>8" H756="2!)056K 0"2)!)
+U
&.':6"2"?7U
X(
7>: &71VU
# "? *
&.!:;"?"27
:;& =.&7E)
+U
+
H" *
X(
#
" + " +
% 7
#
% $U
75
& 25;:;&K
H"27 . =&
'&( L567>
&71
&!:
&=%5;1
+/,-,9&05 ?5;7>
7
&!QK
H" *
"
#
&)!56:;"?5;8) &. 256=.&)0)!56:;8>8:68/
=&.7)
E& :6"
) : &)Q'"?2U 7
# "? *
"2>8567&
+(OE5J,9&7 [&.71
)T87
&
&5;: K
+"20>8"?K
&.)!5;)
%5;>8"?:;,I&7U
8:6/, 5;& )
5 '
*
/156!
^U
#
&.!:;"?"27
: &=.&7) &)05;:;"?5;8)
/156!
[&.
"
# ?56=.&)0)!5;:68>8:68/
H"?>85;7&
X(
#
"? *
7
# &.'E:;"2"?7
/ L56(O#&7E1
&.!"27
$ % &,I"?)
+& *
U
U
'&($'56(&:[5;)!)0/"2)M567
&./E'8,I&.!5;(H1+(?/,-"27AO&.!5;879>8"27"?'&.!5;87VU 7
L'/E0'>A&Q
X(
# "? *
7
"27
"20,9&7AK
&':6"2"27
T5;7
% U
&.7#
"
X(
# "? *
7
T5;7
& ?5;: &K
&!QK
"
"27
&.7#
% U
&71
! # . " '
# & ?5;: &K
+(OE56BC,I&7 ^&71
=.&7E)
+5;,-87"
330A&(O
&=%5;1
+(O5 BC,9&7 ^&71
"2>8567&
&00K
" '
"2>8567&
%
&':6"2"27
E3&>8"?) 3U
$
(?' J"?2U
1E+(?/,I"?7A4)!/,-,I&!5 &.!5;87 :6"&"2& )L5;7U EU * &!1E)I,W/E:6'561%(2/,-"27AW)0/,-,9&05 "2&.'5687 AKS!"$BC8
,F/: &.!5 7
!8>80"2)0)[&.71X3E!8)03J"?(?')?U7 % 3&.>8"2) $ U
&.71
"
& 256: &K
"
#
%
&)!56:;"?5;8)[&. ?56=.&)!)05;:68>8:;/
"2/EBC"?:]U
"$=.&:;/&'5;7U
&EU
8:;/E, 5 &<,F/:6!5
%
7
U
&=%5;1
+56,I87E"
=.&7E)
"
#
%
&)!56:;"?5;8)[&. ?56=.&)!)05;:68>8:;/
"?/EBC"2: U
U
8:;/E, 5 &<,F/:6!5
"
1E+(?/,I"?7A4)!/,-,I&!5 &.!5;87 "
%
#*
X"?: &,-"21
&7
X"?:;(2/
8 )!"?)!)2U
+
X"?:;(2/
" %
&:6"$#+5;(?87U 7
%
^"?
+
X"$'!3J8:65;)
AK4B &)Q
X5 %E"2"?=
X56:;:;"?
U
U >/)0'&
&
#
(28,-3/E!5;7>
7E1!"?5]U
"2:6:;"2 &7E1
05 &77&
,I&(O567"2)?U
" U D
"
#
"2:6:;"?2U
"
%
U
"?(
*
%/&.'5687)BZ)QO&.!"
" # # EU
WU !8)0) D&.71
X%87"$K
E5;>8
3&>8"2)
X%8!"
#
& =%561
E&71!&
& \"200K
:;"$=8"2:)Q'0/(?!/!"RBC8M"$#%'"?71"21
&.!:;"?"27
X(
$
KU
"$#+3: &.7&.'5687)?U
"2(256:;"
&05;)?U
'
EU
Z:;&77567>
+U
1E5;7 /0>8U
U
7A'!
( U
D"M>8"?7"2!&.'5687SB
/ %
7
'"$#%[BC8H&1E=%5;)080KT15;&:;8>/"2) !/!567><567L!"27A'5687&: &7E1Y!"$'805;(&.: 567EBC8!,I&.!5;87U
# U
&77&I&71
% /
&71
(&:6(2/:;&.'5687)
B )03J"?"2(O4O&.>8>8"2?U[75 =8"?!)!5 KMB
U "2:6: &./,
5 '
+
U
H)!"27 :6/E'
U U X5;:6:;"2?U
1E/(?!5;87 '801+["$ 7 7 :65;7"4:6"$#+5;(2&:D1&.'&&)0"U # % . $ $ +U
U NU
+ NU
8,-3&7AK 3&.>8"2) G&0)!&.:;:
H756="2
B:;" #E56(&:%!"?: &.!5;87E) 567
# H)!"27 :6/E'
( 3&.0
/ :;56)!567>
U
NU 1 * &01
30"2)0)2U
$U : &7AK %'&.'"
$U
# '%8:ABC8 !" 1"?)!(?!5;3+'5;7
P&.77"2 A"215 '8
H5;(O: &)
%" U 87 "27 !
&,I567
%
7
U
+ %
"$=.&:;/&'5;7U
U @
" "$#+56(&:%BC/7(?!5;87E)
>82U
U
EU
)056K4.B H" *
&71
" - # OU >882U
330A&(O
U
(
" &3
&.(25;!"
875 H)!"27+BC"2:;1VU
" #+3J87E"27A'5;&:Z: &7>/&>8"
&.5;(2"
E!5;) WU
,-+1E"2:;)?U
"
&.71X3E!8)03J"?(?')?U &.7>
"?=%5;7
7E5;>8A V&71
X5;7E5;,W/,
/
%
&.75;"?: G&.!(2/VU
5;)080"
NU
E&:65;,
,-"?!%19BC8 &/E',9&.!5;(
*
"?!"?5;'&
*+
7>:;5;)0
!"?)!)
5;:6:;5 &.,
U
/5;
U
%K%7AO&#
&)!"?1
"?(O75 %
/E"2)
U
%
&.:;5;>7,I"?7ABZ,F/:
&71P>"27"?'&.!5;7>X7" *
)!"?7A'"27E(2"2)?U
7
EU
P&.!1 \&71
"?5 5;7>
VL/U
+U
:6"2/ EU
"^56:;:65 &7 "@"2".U
/ %
+
EU 5;)0!!5 /E'5687&:(?:;/)Q'"?!5;7E>WB
3&.>8"2)
U
E&/E: NU
"?/ 8:6) AK
5;:6:;5 &.,
U Z"?0'"?!:;567> &7E1
05 &7
U "277"?0KU
U
&,
05;1>8"
0"2)!) )!"2(?871X"215 '5;7U
&7
!,I&7U
.
+U
%
$U[#+BC!1
# ' "(" +
%$ " +5;1E7"?K
# %
0"2"27 &./,
* M1>8,9&.)BZ"2,-356!5;(?5;)0,XU
[&7E18:;3E
+11
# %
AKS(2,I3/+'"2 & " # . " ) *' " % 56:;: &.!1
"?156!8
!
%
"
"?=.&:6/&.!5;87-B@,I&(O567"H!'&7E)!: &'5;7U 7 %
* 801)2U 7
H756="20)!56K
/5;7E"
8/ .8)
&B O&:65 D
56)! AK &7E1
"207&71
3&.>8"2) EU
#%!'&($'5;7E> 3&!&3!&)!"?)
3&>"2)
&.35;7"?75
!. * :;5 '"?'&.!/!"9& )0!'&($')
!5;3:6"-!'&7E)!: &'5;7)
%
(?: &)0)!5 (&.!5;87X"20!8H''&.5;7567>9567
7
87)Q'0/(?!5;7>
U
U
! $# . U
%$
%
E!5;)&71
[7A=%56=8"?!)056K
"2 J!"$
7
#
"@"2"?(O
%U @
" 87>,9&7
NU
!"?)!) (O&.3E'"?
&.71
!/3
"@!1
8/E2U
#"
&7
#
U G&Q'5;7E5;(O
%=.&0!75 U
%
U
# !
@8717
U
H&1"?=
'&>8,I56
[87>.KA&7
5;7E>
"
&)!"?1-)0/,-,9&05 2&.'5687
"
&71
.
#
/ %
" # "(" '& H&1"?=
'&>8,I56
$ #
H& =%56(O&71!&7
5;:; 5;7
H)!5;"
[
1/&01
=LK8U &)!"?1
! $# " "@"&075;7>
%U
%
7"2)?U
"@"&.!7567>
EU
"27"?'&.!5;7>7&.'/E'&:[: &7
# % )0/0B &.(2"'" #+
+
3&>"2)
3&.!!"2!7E)
$ $
BCD&
U
15;($'5687&05;"2) BC8D5;7EBC!,I&.'56879" #+!'&($'5687
%
3&>"2) $!$ $ +U
$ ! % %
"(" % # # ! # %
! $ % " " +
/"?)2U
&( L
U
:;/,
E5 &
[7E56=8"?!)056K
#
&!QK
+(O5 V,I&7
+ ZVU WUW!"2)05;)
"?3&0!,I"?7A
75 H"27 . =&
"
&7E1
% &.!:;"?"27
U X( "2 *
[5;7E!5;(OVU
+U
,I3/+'"2
+(?5;"?7(2"
7U
+U
#E3\"205;,-"27A')
567
%" -"
^U
" ! $#
% $ # ' % %
+(OL/E 2"
B
U
,F/:6!5;1%(2/,-"27AD)0/,-,9&05 2&.'5687U 7
\"2?U
U
#
EU
,F/:6!5;3:6"487 :65;7"4)08/0(2"2)?U
* "?!5;7E>9)0K%)Q'"2,TU 7
:;:;"?7T&71
7U
AKM,W/E:6'5 :6"?=8"?: \+. )Q'!&33567>U 7
"27A'085;1
U
" #+!'&($'5687 /+'5;:656K
"?"23& 4&71
L/"?)0!5;87X&7)
BC!8,
%"23E!"2,
&':6"2"27 U T
("2 *
U &.71
>/&>8"T)!/,-,I&!56"2)
) &EU
U
/1 25 . *
B,W/: '5;3E:;"Z1%(2/,-"27A') )0"27A'"?7(2"
"$=.&:;/&'5;7 8&7E1W/)!"? )0!/156"2)2U 7
" G&.:;>88 &.'&
87A!"$#% )03&(2".U 7
$U
+567AKA&,I&
/E)!/ ."
,I&.!5;(3&.'&3E'&)0"
$ $
U
E&.!8)!E5 +" %567"
56K8)!5 +/1 E&71
&( L
/56)0'5687<BC!,
7" *
% H&:;3E
)[&.0'56(2:6"2)2U 7
05;)0,9&.7U +U [/E'
+3&>8"?)
+56"2>8"?:
+
+5;1E7"?K-&7E1
+3&.
87"?)
&0"27U
U D
"
# +3 &'
" " %
+/1E
G&
&,
. $U
:;:65;) [8 * %+1
& E&.!8)!5 %" L5;7".U
"2/EBC"?:
+5;,-87".U
&)
"
$ 5;(O"?)0!"2
"2)Q
%
&)!"?1P"?=.&:6/&.!5;87
%/)!)0"$#
.
&: ."2
+U
H"?1/71&7(?K
B )!/,-,9&.0KL/&:656K 8&EU
X&!56:6K%7U
G&05;:6K%7U
\"202U
U
&.71X567EBC"20"27(?"
"2(O)0:;"2
"?)!(?!5 E5;7>M!"?: &
! $# 5;7
(2:;: & J8!&.'5 =8"T15 &.:;8>8/E"U
/ %
7
U
$U U WU+'"?)!5;)
&3&7"2)0"
U
% &: ."2
&( %
/E5;)0!5;874BC8
U
%$
" # "(" '& G&05;: K+7VU
&: ."2
7>: &71VU
3&>8"?) $ $
!5;87E)!563) \"? * "2"?74)!(256"27A'5 (3&3J"?!)?U 7 %
U /E!8,I&.'56(3&.!!"207
7
U
15;0"2($'5;7)2U
" # " G&)!)!&(OL/)!"$!!) V3&>8"2)
+U
!561>8"
567EBC80,9&.!5;879"$#%'!&(?!5;87U 7
"
U G&K /QK ^"215 '80)
5 K88)05^&71
!# [/E',9&.!5;(Y)0/,I,I&05 2567>B &.(?'!)T&71
0"2)
+
U
["2:6,W/E!U
# G&7E5&71
" '& +U
7E1"2 0
"2"?
" #
EU
H5;:6:]U
$U X( '& *
&)0!"2:;:;&7U
NU 87
[75 =8"?!)!5 KMB
+U
!"?)!)?U
!#
"27E7)0K%:6=.&7E5 &EU
"?7W>856="27N5;7EBC80,9&'5;75;) &(2(?"27A'"?1 H"?3J"$'56!5;87 3&'&3E'&)0"
%
5;7M15 &.:;8>8/E"U 7
U &. E5;!1
"
"
%
!
# # %
%
+ " # U
5;" J"
*' $ %
$ &7AK+(?"
EU
8,
7
&!&
D80)0!"27
"?,I356!56(&:[&330A&(O
&7> 5;,-5;7E> 8,
5;"20(2" Z&71
0)0'08,
&0 *
*
) AK
&=%5;1VU
EU
&56,I"
& \87"?:;: U
%
%
U [7E)!/3\"2Q=+56)!"?1
/ %
,-"?!%1)2U 7
"277"$' T("2"$=8"2?U
0"2)!:;/E!5;87U
( E&7E1>8!"?7 %&71
'P!"2,-3J'&:H!"$BC"2!"?7(2"
&.71X7 :65;7""$=8"?7L[1"$'"2($'5687U 7
#
+U
+
3&.>8"2)
)Q'/1EK87S!"$'08)!3\"2($'56="
3&.>8"2) * 8019)0"27)0"15;)!&,
56>8/&.!5;87
U
U
056=.&:65;7>
)!/E3J"?0=%5;)0"21

Similar documents