Tell Me Why

Transcription

Tell Me Why
!"#$%&%'(&!$%'#)
!"#$%&'()'!%##%**'$+'!$+*$#,-$+.%/'
0123%++21'23'41*+'"#/'56$%#6%+'"#/'
!$1%6*21 ' 23 ' *.% ' (%#*%1 ' 321'
(2,#$*$7% ' 5*-/$%+ ' "* ' 8-3*+'
9#$7%1+$*:; '<"++"6.-+%**+) ' =% ' $+'
"&+2 ' *.% ' "-*.21 '!" # $!%&'%& # (%) #
$!%*+,!-*%'** #>?@A@BC './(,%*&!/0*#
>?@DEC ' 0%#,-$#; ' ?@@DBC '123!4#
5!!0 #>?@EFBC '67' # 8%&'%&,!%(2#
9&(%+' #>?@EDBC '$!%*+,!-*%'**#
1:;2(,%') #>?@@GC ' 0%#,-$#; ' ?@@HBC'
"#/'<,%)*#!"#=,%)*#>?@@AB)
!"#$%&#'())*+
!,-./0123'-4'512'!267,/6'$89,:
!267,/6'(99;0'<53='>?'@8/7150'<A62='<96396'@B'CDE='"67.A63
!267,/6'(99;0'%+F'&6GH='I?C'J,3096'+58225='#2K'L98;='#2K'L98;'MNNMO='%+F
!267,/6'(99;0'F,058A./A'<53='P/67K993='Q/G598/A='F,058A./A
!267,/6'(99;0'RA6A3A'<53='MN'F.G986'FS26,2='D989659=')65A8/9='RA6A3A'TOQ'I(>
!267,/6'(99;0'U#EV'<53='MB>WMXN'@A/8A,'P9A3='F,G;.A63'MN='#2K'E2A.A63
!267,/6'(99;0'<53='P27/052823')YY/G20Z'JA8[9630K9851='T/33.202\='"67.A63
]/805':,-./0123'/6'512'%+F'-4'+/[96'^'+G1,0528'MXXC
]/805':,-./0123'/6'$82A5'(8/5A/6'-4'F..26'<A62'D12'!267,/6'!8200'MXXC
!,-./0123'/6'!267,/6'(99;0'MXX_
IC?X'MN'B_O
R9:48/715'`'aA6/2.'RH'a266255='MXXC'
F..'8/7150'82028S23
D12'AG;69K.2372[2650'96':H'CB?'G9605/5,52'A6'2\5260/96'9Y'51/0'G9:48/715':A72
D12'[98A.'8/715'9Y'512'A,5198'1A0'-226'A0028523
!8/6523'/6'"67.A63'-4'R.A40'<53='+5'&S20':/G
"\G2:5'/6'512'%6/523'+5A520'9Y'F[28/GA='51/0'-99;'/0'09.3'0,-b2G5
59'512'G963/5/96'51A5'/5'01A..'695='-4'KA4'9Y'58A32'98'95128K/02='-2'.265=
82W09.3='1/823'9,5='98'95128K/02'G/8G,.A523'K/519,5'512':,-./0128c0
:8/98'G960265'/6'A64'Y98['9Y'-/63/67'98'G9S28'95128'51A6'51A5'/6
K1/G1'/5'/0':,-./0123'A63'K/519,5'A'0/[/.A8'G963/5/96'/6G.,3/67'51/0
G963/5/96'-2/67'/[:9023'96'512'0,-02d,265':,8G1A028
D9'QF#'e%&#"'
52AG128'A63'Y8/263
!"#$%#&'()$&*#+,-./01
-),Y(/.#'&/
.+//&0+&123
23#4%35#67#%89:#;#<76#=>39#$#=;%#;#?>8<5@#;A7495#6>3#?;BCD8A3#;6#%4BB3A#
?;BC@#;6#%?>77<#;95#+495;E#%?>77<@#7A#:;6>3A35#;A7495#6>3#C8;97#;6#>7B3"#
'93#7D#BE#D;F7A863#%79:%#=;%#G(3<<#H3#2>E"G#IJ7A#6>7%3#=>7%3#C3A%79;<#
B3B7A83%#579K6#;<A3;5E#3BLA;?3#6>8%#<866<3#6A3;%4A3@#6>3#B4%8?#8%#CA7F8535#89#
6>3 #;CC3958M"#(>3# %8BC<3# B3<75E# ;95# 3;%E# >;AB79E# <893# ;A3 #%4ACA8%89:<E#
L3;468D4<"N
(3<<#B3#=>E#6>3#%6;A%#57#%>893@
(3<<#B3#=>E#6>3#8FE#6=893%@
(3<<#B3#=>E#583#%OEK%#%7#L<43"
(>39#$#=8<<#63<<#E74#P4%6#=>E#$#<7F3#E74"
Q3?;4%3#*75#B;53#6>3#%6;A%#67#%>893@#Q3?;4%3#
*75#B;53#6>3#8FE#6=893@#Q3?;4%3#*75#B;53#
6>3#%OE#%7#L<43"#Q3?;4%3#*75#B;53#E74@#6>;6K%#
=>E#$#<7F3#E74"
(>8% # %6A;8:>6D7A=;A5@ # %3968B396;< # 53?<;A;6879 # %68<< # LA89:% # ; # <4BC # 67 # BE#
6>A7;6R%7#%=336@#%7#8997?396@#%7#A3;%%4A89:#;#F8%879#7D#<8D3S
,95#6>39#;<79:#?7B3%#0;A=89#;95#%C78<%#6>3#C8?98?"#'A#573%#>31#(>;6#8%#
6>3 # 67C8? # 7D# 6>8% # L77O"# JA7B# 6>3 # B7B396 # 7D # 6>3 # C4L<8?;6879 # 7D #!"#$#% & '(&
)*+,#+- &89 # !TUV@ # ->;A<3% # 0;A=89K% # D495;B396;< # 853; # >;% # 89%C8A35 # 89639%3#
A3;?6879%#A;9:89:#DA7B#D3A7?874%#?7953B9;6879#67#3?%6;68?#;<<3:8;9?3@#%7B3W
68B3% # 6;96;B7496 # 67 # A3<8:874% # X3;<" # 0;A=89K% # 6>37AE # >;% # L339 # ;L4%35 # ;95#
B8%A3CA3%39635#LE#DA8395#;95#D73#;<8O3"#$6#>;%#L339#B8%;CCA7CA8;635#67#<395#
%?83968D8?#A3%C3?6;L8<86E#67#;CC;<<89:#C7<868?;<#;95#%7?8;<#57?6A893%"#$6#>;%#L339#
C8<<7A835#89#?;A8?;64A3#LE#7CC79396%@#%7B3#7D#=>7B#=74<5#>;F3#86
!"########$%&&#'%#()*
,-./010#23#-45#,62785039:#:,6--7:#;216#<,50=12-3#:,203,0><#=#/=16012,#6-8?0@
/-8?0#-A#/2-4:#/:048-@:,203,0B!
C7.-:1#3-#-30#2:#2382AA05031#1-#D=5;23>#=38#3-#-30#:6-478#E0B#$60#D=5@
;232=3#160-5F#2:#=#:,20312A2,#160-5F>#=38#=#?50=1#-30>#E41#16=1#2:#3-1#=77#21#2:B#
$60#,50=12-32:1:#;6-#-//-:0#21#:-#E211057F#=50#52?61#=E-41#-30#1623?G#D=5;239:#
8=3?05-4:#280=#,41:#.4,6#800/05#231-#160#A=E52,#-A#-45#.-:1#A438=.031=7#
E0720A:#16=3#.=3F#-A#21:#:-/62:12,=108#=/-7-?2:1:#6=H0#F01#=8.21108>#0H03#1-#
160.:07H0:B
$60#:;001>#:2./70#H2:2-3#-A#160#:-3?>#1=I03#72105=77F>#2:#-30#16=1#.-:1#-A#4:#
6=H0 # -41?5-;3> # 6-;0H05 # A-387F # ;0 # .=F # 50,=77 # 21B # $60 # I2387F # J-8 # ;6-#
7-H23?7F#A=:62-308#0=,6#=38#0H05F#-30#-A#4:#K#=77#,50=1450:#?50=1#=38#:.=77L#
=38#:/523I708#160#:IF#;216#:62323?#:1=5:#A-5#-45#8072?61M&',& #J-8#2:>#72I0#
N=31=#O7=4:>#=#.F16#-A#,62786--8>#3-1#=3F1623?#=#:=30>#438074808#=8471#,-478#
72105=77F # E0720H0 # 23B #2',& #J-8 # .4:1 # 021605 # E0 # 145308 # 231- # = # :F.E-7 # A-5#
:-.01623?#70::#,-3,5010#-5#=E=38-308#=71-?01605B
P-1#=77#:,20312:1:#=38#/627-:-/605:#=50#=1602:1:>#=38#.=3F#;6-#=50#E0720H@
05:#80,7=50#16=1#16025#280=#-A#J-8#,=3#72H0#23#/0=,0A47#,-0Q2:103,0#;216>#-5#
0H03#A238#:4//-51#A5-.>#160#D=5;232=3#A5=.0;-5I#-A#280=:B#$6025:#2:#3-1#=3#
=3165-/-.-5/62,# )=382,5=A105 # J-8> # E41# :1277 # = # J-8 # ;-516F# -A # ;-5:62/ # 23#
16025#0F0:>#,=/=E70#-A#?2H23?#,-3:-7=12-3#=38#.0=323?#1-#16025#72H0:B#R1605:#
?5-438#16025#62?60:1#,-3,053:#23#0312507F#:0,47=5#/627-:-/620:>#H20;:#-A#160#
.0=323?#-A#72A0#16=1#:1=H0#-AA#80:/=25#;216-41#160#=28#-A#=3F#,-3,0/1#-A#=#
N4/50.0#S023?M-1605#16=3#160#T32H05:0#21:07AB#N-.01623?#("#:=,508#1-#160:0#
1623I05:>#E41#160F#8-#3-1#,=77#21#J-8U#160F#,=77#21>#/056=/:>#&2A0>#-5#&-H0>#-5#
J--830::>#-5#V310772?03,0>#-5#S0=41F>#-5#)4.=321FB#(6=1#E-16#?5-4/:#:6=50>#
23#:/210#-A#160#82AA0503,0:#23#16025#800/0:1#,5008:>#2:#=#,-3H2,12-3#16=1#72A0#8-0:#
6=H0#.0=323?>#16=1#?--830::#.=1105:B
S41#,=3#,)3#H05:2-3#-A#162:#=1121480#-A#;-3805#=38#/45/-:0#E0#:4:1=2308#23#
160#A=,0#-A#D=5;232:.W#X5-.#160#-41:01>#16050#6=H0#E003#16-:0#;6-#16-4?61#
160F#:=;#D=5;23#701123?#160#;-5:1#/-::2E70#,=1#-41#-A#160#E=?G#326272:.B#$60F#
16-4?61#16=1#2A#D=5;23#;=:#52?61>#160#2./72,=12-3#;-478#E0#16=1#3-1623?#,-478#
E0#:=,508B#$-#/41#21#E74317F> #3-1623?#,-478#6=H0#=3F#/-231B#V:#162:#Y4:1 #=3#
-H0550=,12-3W#(6=1#0Q=,17F#=50#160#2./72,=12-3:#-A#D=5;239:#280=M=38>#23#
=3F#,=:0>#6=:#21#E003#:,20312A2,=77F#/5-H03#-5#2:#21#:1277#<Y4:1#=#160-5F<W
Z056=/:>#F-4#.=F#1623I>#;0#,-478#.=I0#=#4:0A47#82H2:2-3G#16050#=50#160#
/=51: # -A # D=5;239: # 280= # 16=1 # 50=77F# =50 # 0:1=E72:608 # E0F-38 # =3F # 50=:-3=E70#
8-4E1>#=38#1603#16050#=50#160#:/0,47=12H0#0Q103:2-3:#-A#160#:,20312A2,=77F
!B#V#;277#3-1#80H-10#=3F#:/=,0#23#162:#E--I#1-#,=1=7-?423?#160#800/#A7=;:#23#,50=12-32:.>#
-5#:4//-5123?#.F#/050./1-5F#,-380.3=12-3#-A#21B#V#1=I0#16=1#Y-E#1-#6=H0#E003#=8.25=E7F#
8-30#EF#c21,605#!+"a>#X414F.=#!+"^>#J27I0F#!+"\>#=38#-1605:B
!"#$%&'()*#+,-./01#######!+
2550:2:12E70#/=51:B#$603M2A#;0#;050#74,IFM/056=/:#160#5-,I@:-728#:,20312A2,#
A=,1:#;-478#6=H0#3-#:143323?#2./72,=12-3:#=E-41#5072?2-3>#-5#64.=3#3=1450>#
-5#160#.0=323?#-A#72A0>#;6270#160#/=51:#-A#D=5;239:#280=#16=1#?01#/0-/70#=77#
4/:01#,-478#E0#/41#231-#[4=5=31230#=:#62?67F#,-315-H05:2=7#0Q103:2-3:#-A>#-5#
.050 # 23105/501=12-3: # -A> # 160 # :,20312A2,=77F# 2550:2:12E70 # /=51:B #$6=1 # ;-478 # E0#
50=::4523?B
S41#=7=:>#16=1#2:#Y4:1#=E-41#E=,I;=58:B#$6050#=50#H2?-5-4:#,-315-H05:20:#
:;25723? # =5-438 # 23 # 0H-7412-3=5F# 160-5F> # E41# 16-:0 # ;6- # A007 # 1650=10308 # EF#
D=5;232:.#:6-478#3-1#1=I0#60=51#A5-.#162:#A=,1B#'-:1M2A#3-1#[4210#=77M-A#
160#,-315-H05:20:#,-3,053#2::40:#16=1#=50#<Y4:1#:,203,0<U#3-#.=1105#;62,6#:280#
;23:>#160#-41,-.0#;277#3-1#438-#160#E=:2,#D=5;232=3#280=B#$6=1#280=>#;62,6#
2: # =E-41 # =: # :0,450 # =: # =3F # 23 # :,203,0> # 50=77F # 8-0: # 6=H0 # A=5@50=,623?#
2./72,=12-3:#A-5#-45#H2:2-3#-A#;6=1#160#.0=323?#-A#72A0#2:#-5#,-478#E0B
V3 # !\]^> #O-/0532,4: #/5-/-:08 #16=1# 160# %=516# ;=: # 3-1# 160# ,03105 #-A#160#
432H05:0#E41#23#A=,1#50H-7H08#=5-438#160#N43B#V1#1--I#-H05#=#,03145F#A-5#160#
280=#1-#:23I#23>#=#?5=84=7#=38#=,14=77F#5=1605#/=2370::#15=3:A-5.=12-3B#K$60#
5072?2-4: # 50A-5.05 # Z6272// # '07=3,616-3> # = # ,-77=E-5=1-5 # -A # '=5123 # &41605>#
-/2308#16=1#<:-.0#O652:12=3#/523,0<#:6-478#:4//50::#162:#.=8.=3>#E41#=:280#
A5-.#=#A0;#:4,6#:=7H-:>#160#;-578#;=:#3-1#/=512,47=57F#:6=I03#EF#O-/0532,4:#
62.:07ABL#$60#O-/0532,=3#_0H-7412-3#828#0H0314=77F#6=H0#21:#-;3#<:6-1#60=58#
5-438 # 160 # ;-578<G # J=7270-9: #4(,5%*6/ # 7%)-/.)()* # &'/ # 28% # 7'(/9 # :%.50 #
+3"&/;"<#E41#21#;=:#3-1#/4E72:608#43127#!`^a>#;603#160#2::40#;=:#3-#7-3?05#
,-315-H05:2=7 # =.-3? # :,20312:1:B # J=7270-9: # /5-Y0,1270 # /5-H-I08 # =3 # 23A=.-4:#
50:/-3:0#EF#160#_-.=3#O=16-72,#O645,6>#:01123?#4/#=#:6-,I#;=H0#;6-:0#
50H05E05=12-3:#=50#-37F#3-;#8F23?#-41B#S41#23#:/210#-A#160#85=.=#-A#16=1#0/2,#
,-3A5-31=12-3>#160#280=#16=1#-45#/7=301#2:#3-1#160#,03105#-A#,50=12-3#6=:#:=1#
5=1605#72?617F#23#/0-/709:#.238:B#%H05F#:,6--7,6278#1-8=F#=,,0/1:#162:#=:#160#
.=1105#-A#A=,1#21#2:>#;216-41#10=5:#-5#1055-5B
V3#840#,-45:0>#160#D=5;232=3#_0H-7412-3#;277#,-.0#1-#-,,4/F#=#:2.27=57F#
:0,450#=38#4315-4E708#/7=,0#23#160#.238:M=38#60=51:M-A#0H05F#084,=108#
/05:-3#-3#160#?7-E0>#E41#1-8=F>#.-50#16=3#=#,03145F#=A105#D=5;239:#80=16>#;0#
:1277#6=H0#3-1#,-.0#1-#105.:#;216#21:#.238@E-??723?#2./72,=12-3:B#T372I0#160#
O-/0532,=3#_0H-7412-3>#;62,6#828#3-1#03?=?0#;280:/50=8#/4E72,#=110312-3#
43127 # 160 # :,20312A2, # 801=27: # 6=8 # E003 # 7=5?07F # :-5108 # -41> # 160 # D=5;232=3#
_0H-7412-3#6=:#6=8#=3Q2-4:#7=F#:/0,1=1-5:#=38#,600570=805:#1=I23?#:280:#A5-.#
160 # -41:01> # 14??23? # =1 # 160 # :700H0: # -A # 160 # /=512,2/=31: # =38 # 03,-45=?23?#
?5=38:1=3823?B # $60 # :,20312:1: # 160.:07H0: # 6=H0 # E003 # .-H08 # EF # 160 # :=.0#
6-/0:#=38#A0=5:>#:-#21#2:#3-1#:45/52:23?#16=1#820#507=12H07F#3=55-;#,-3A72,1:#
=.-3?#160-52:1:#6=H0#-A103#E003#3-1#Y4:1#E7-;3#4/#-41#-A#/5-/-512-3#EF#16025#
=8605031:>#E41#:052-4:7F#82:1-5108#23#160#/5-,0::B#%H05FE-8F#6=:#:003>#82.7F>#
16=1#=#7-1#2:#=1#:1=I0B
'-50-H05>#=716-4?6#D=5;239:#-;3#=512,47=12-3#-A#62:#160-5F#;=:#.-34@
.031=7>#=38#21:#/-;05:#;050#2..082=107F#50,-?32b08#EF#.=3F#-A#160#:,203@
!"########$%&&#'%#()*
,-./010#23#-45#,62785039:#:,6--7:#;216#<,50=12-3#:,203,0><#=#/=16012,#6-8?0@
/-8?0#-A#/2-4:#/:048-@:,203,0B!
C7.-:1#3-#-30#2:#2382AA05031#1-#D=5;23>#=38#3-#-30#:6-478#E0B#$60#D=5@
;232=3#160-5F#2:#=#:,20312A2,#160-5F>#=38#=#?50=1#-30>#E41#16=1#2:#3-1#=77#21#2:B#
$60#,50=12-32:1:#;6-#-//-:0#21#:-#E211057F#=50#52?61#=E-41#-30#1623?G#D=5;239:#
8=3?05-4:#280=#,41:#.4,6#800/05#231-#160#A=E52,#-A#-45#.-:1#A438=.031=7#
E0720A:#16=3#.=3F#-A#21:#:-/62:12,=108#=/-7-?2:1:#6=H0#F01#=8.21108>#0H03#1-#
160.:07H0:B
$60#:;001>#:2./70#H2:2-3#-A#160#:-3?>#1=I03#72105=77F>#2:#-30#16=1#.-:1#-A#4:#
6=H0 # -41?5-;3> # 6-;0H05 # A-387F # ;0 # .=F # 50,=77 # 21B # $60 # I2387F # J-8 # ;6-#
7-H23?7F#A=:62-308#0=,6#=38#0H05F#-30#-A#4:#K#=77#,50=1450:#?50=1#=38#:.=77L#
=38#:/523I708#160#:IF#;216#:62323?#:1=5:#A-5#-45#8072?61M&',& #J-8#2:>#72I0#
N=31=#O7=4:>#=#.F16#-A#,62786--8>#3-1#=3F1623?#=#:=30>#438074808#=8471#,-478#
72105=77F # E0720H0 # 23B #2',& #J-8 # .4:1 # 021605 # E0 # 145308 # 231- # = # :F.E-7 # A-5#
:-.01623?#70::#,-3,5010#-5#=E=38-308#=71-?01605B
P-1#=77#:,20312:1:#=38#/627-:-/605:#=50#=1602:1:>#=38#.=3F#;6-#=50#E0720H@
05:#80,7=50#16=1#16025#280=#-A#J-8#,=3#72H0#23#/0=,0A47#,-0Q2:103,0#;216>#-5#
0H03#A238#:4//-51#A5-.>#160#D=5;232=3#A5=.0;-5I#-A#280=:B#$6025:#2:#3-1#=3#
=3165-/-.-5/62,# )=382,5=A105 # J-8> # E41# :1277 # = # J-8 # ;-516F# -A # ;-5:62/ # 23#
16025#0F0:>#,=/=E70#-A#?2H23?#,-3:-7=12-3#=38#.0=323?#1-#16025#72H0:B#R1605:#
?5-438#16025#62?60:1#,-3,053:#23#0312507F#:0,47=5#/627-:-/620:>#H20;:#-A#160#
.0=323?#-A#72A0#16=1#:1=H0#-AA#80:/=25#;216-41#160#=28#-A#=3F#,-3,0/1#-A#=#
N4/50.0#S023?M-1605#16=3#160#T32H05:0#21:07AB#N-.01623?#("#:=,508#1-#160:0#
1623I05:>#E41#160F#8-#3-1#,=77#21#J-8U#160F#,=77#21>#/056=/:>#&2A0>#-5#&-H0>#-5#
J--830::>#-5#V310772?03,0>#-5#S0=41F>#-5#)4.=321FB#(6=1#E-16#?5-4/:#:6=50>#
23#:/210#-A#160#82AA0503,0:#23#16025#800/0:1#,5008:>#2:#=#,-3H2,12-3#16=1#72A0#8-0:#
6=H0#.0=323?>#16=1#?--830::#.=1105:B
S41#,=3#,)3#H05:2-3#-A#162:#=1121480#-A#;-3805#=38#/45/-:0#E0#:4:1=2308#23#
160#A=,0#-A#D=5;232:.W#X5-.#160#-41:01>#16050#6=H0#E003#16-:0#;6-#16-4?61#
160F#:=;#D=5;23#701123?#160#;-5:1#/-::2E70#,=1#-41#-A#160#E=?G#326272:.B#$60F#
16-4?61#16=1#2A#D=5;23#;=:#52?61>#160#2./72,=12-3#;-478#E0#16=1#3-1623?#,-478#
E0#:=,508B#$-#/41#21#E74317F> #3-1623?#,-478#6=H0#=3F#/-231B#V:#162:#Y4:1 #=3#
-H0550=,12-3W#(6=1#0Q=,17F#=50#160#2./72,=12-3:#-A#D=5;239:#280=M=38>#23#
=3F#,=:0>#6=:#21#E003#:,20312A2,=77F#/5-H03#-5#2:#21#:1277#<Y4:1#=#160-5F<W
Z056=/:>#F-4#.=F#1623I>#;0#,-478#.=I0#=#4:0A47#82H2:2-3G#16050#=50#160#
/=51: # -A # D=5;239: # 280= # 16=1 # 50=77F# =50 # 0:1=E72:608 # E0F-38 # =3F # 50=:-3=E70#
8-4E1>#=38#1603#16050#=50#160#:/0,47=12H0#0Q103:2-3:#-A#160#:,20312A2,=77F
!B#V#;277#3-1#80H-10#=3F#:/=,0#23#162:#E--I#1-#,=1=7-?423?#160#800/#A7=;:#23#,50=12-32:.>#
-5#:4//-5123?#.F#/050./1-5F#,-380.3=12-3#-A#21B#V#1=I0#16=1#Y-E#1-#6=H0#E003#=8.25=E7F#
8-30#EF#c21,605#!+"a>#X414F.=#!+"^>#J27I0F#!+"\>#=38#-1605:B
!"#$%&'()*#+,-./01#######!+
2550:2:12E70#/=51:B#$603M2A#;0#;050#74,IFM/056=/:#160#5-,I@:-728#:,20312A2,#
A=,1:#;-478#6=H0#3-#:143323?#2./72,=12-3:#=E-41#5072?2-3>#-5#64.=3#3=1450>#
-5#160#.0=323?#-A#72A0>#;6270#160#/=51:#-A#D=5;239:#280=#16=1#?01#/0-/70#=77#
4/:01#,-478#E0#/41#231-#[4=5=31230#=:#62?67F#,-315-H05:2=7#0Q103:2-3:#-A>#-5#
.050 # 23105/501=12-3: # -A> # 160 # :,20312A2,=77F# 2550:2:12E70 # /=51:B #$6=1 # ;-478 # E0#
50=::4523?B
S41#=7=:>#16=1#2:#Y4:1#=E-41#E=,I;=58:B#$6050#=50#H2?-5-4:#,-315-H05:20:#
:;25723? # =5-438 # 23 # 0H-7412-3=5F# 160-5F> # E41# 16-:0 # ;6- # A007 # 1650=10308 # EF#
D=5;232:.#:6-478#3-1#1=I0#60=51#A5-.#162:#A=,1B#'-:1M2A#3-1#[4210#=77M-A#
160#,-315-H05:20:#,-3,053#2::40:#16=1#=50#<Y4:1#:,203,0<U#3-#.=1105#;62,6#:280#
;23:>#160#-41,-.0#;277#3-1#438-#160#E=:2,#D=5;232=3#280=B#$6=1#280=>#;62,6#
2: # =E-41 # =: # :0,450 # =: # =3F # 23 # :,203,0> # 50=77F # 8-0: # 6=H0 # A=5@50=,623?#
2./72,=12-3:#A-5#-45#H2:2-3#-A#;6=1#160#.0=323?#-A#72A0#2:#-5#,-478#E0B
V3 # !\]^> #O-/0532,4: #/5-/-:08 #16=1# 160# %=516# ;=: # 3-1# 160# ,03105 #-A#160#
432H05:0#E41#23#A=,1#50H-7H08#=5-438#160#N43B#V1#1--I#-H05#=#,03145F#A-5#160#
280=#1-#:23I#23>#=#?5=84=7#=38#=,14=77F#5=1605#/=2370::#15=3:A-5.=12-3B#K$60#
5072?2-4: # 50A-5.05 # Z6272// # '07=3,616-3> # = # ,-77=E-5=1-5 # -A # '=5123 # &41605>#
-/2308#16=1#<:-.0#O652:12=3#/523,0<#:6-478#:4//50::#162:#.=8.=3>#E41#=:280#
A5-.#=#A0;#:4,6#:=7H-:>#160#;-578#;=:#3-1#/=512,47=57F#:6=I03#EF#O-/0532,4:#
62.:07ABL#$60#O-/0532,=3#_0H-7412-3#828#0H0314=77F#6=H0#21:#-;3#<:6-1#60=58#
5-438 # 160 # ;-578<G # J=7270-9: #4(,5%*6/ # 7%)-/.)()* # &'/ # 28% # 7'(/9 # :%.50 #
+3"&/;"<#E41#21#;=:#3-1#/4E72:608#43127#!`^a>#;603#160#2::40#;=:#3-#7-3?05#
,-315-H05:2=7 # =.-3? # :,20312:1:B # J=7270-9: # /5-Y0,1270 # /5-H-I08 # =3 # 23A=.-4:#
50:/-3:0#EF#160#_-.=3#O=16-72,#O645,6>#:01123?#4/#=#:6-,I#;=H0#;6-:0#
50H05E05=12-3:#=50#-37F#3-;#8F23?#-41B#S41#23#:/210#-A#160#85=.=#-A#16=1#0/2,#
,-3A5-31=12-3>#160#280=#16=1#-45#/7=301#2:#3-1#160#,03105#-A#,50=12-3#6=:#:=1#
5=1605#72?617F#23#/0-/709:#.238:B#%H05F#:,6--7,6278#1-8=F#=,,0/1:#162:#=:#160#
.=1105#-A#A=,1#21#2:>#;216-41#10=5:#-5#1055-5B
V3#840#,-45:0>#160#D=5;232=3#_0H-7412-3#;277#,-.0#1-#-,,4/F#=#:2.27=57F#
:0,450#=38#4315-4E708#/7=,0#23#160#.238:M=38#60=51:M-A#0H05F#084,=108#
/05:-3#-3#160#?7-E0>#E41#1-8=F>#.-50#16=3#=#,03145F#=A105#D=5;239:#80=16>#;0#
:1277#6=H0#3-1#,-.0#1-#105.:#;216#21:#.238@E-??723?#2./72,=12-3:B#T372I0#160#
O-/0532,=3#_0H-7412-3>#;62,6#828#3-1#03?=?0#;280:/50=8#/4E72,#=110312-3#
43127 # 160 # :,20312A2, # 801=27: # 6=8 # E003 # 7=5?07F # :-5108 # -41> # 160 # D=5;232=3#
_0H-7412-3#6=:#6=8#=3Q2-4:#7=F#:/0,1=1-5:#=38#,600570=805:#1=I23?#:280:#A5-.#
160 # -41:01> # 14??23? # =1 # 160 # :700H0: # -A # 160 # /=512,2/=31: # =38 # 03,-45=?23?#
?5=38:1=3823?B # $60 # :,20312:1: # 160.:07H0: # 6=H0 # E003 # .-H08 # EF # 160 # :=.0#
6-/0:#=38#A0=5:>#:-#21#2:#3-1#:45/52:23?#16=1#820#507=12H07F#3=55-;#,-3A72,1:#
=.-3?#160-52:1:#6=H0#-A103#E003#3-1#Y4:1#E7-;3#4/#-41#-A#/5-/-512-3#EF#16025#
=8605031:>#E41#:052-4:7F#82:1-5108#23#160#/5-,0::B#%H05FE-8F#6=:#:003>#82.7F>#
16=1#=#7-1#2:#=1#:1=I0B
'-50-H05>#=716-4?6#D=5;239:#-;3#=512,47=12-3#-A#62:#160-5F#;=:#.-34@
.031=7>#=38#21:#/-;05:#;050#2..082=107F#50,-?32b08#EF#.=3F#-A#160#:,203@
!"########$%&&#'%#()*
,-.,.#/01#2,345#,3-0645.#27#3-.#1/89#,3454#54/::8#;454#:/5<4#</=.#-0#3-.#,34258#
,3/,#3/>4#20:8#54?40,:8#@4<A0#,2#@4#=52=45:8#7-::41#-0B#$34#@-<<4.,#</=#:226.#
/:C2.,#?2C-?/:#-0#54,52.=4?,B#D0#/::#3-.#@5-::-/0,#CA.-0<.9#E/5;-0#04>45#3-,#
A=20#,34#?40,5/:#?20?4=,9#;-,32A,#;3-?3#,34#,34258#27#4>2:A,-20#-.#32=4:4..F#
,34#?20?4=,#27#/ #*/)/2 #E/5;-0#3/1#02#=52=45 #3)(& #27#34541-,89#/01#.2#3-.#
/??2A0,#27#,34#=52?4..#27#0/,A5/:#.4:4?,-20#;/. #=:/<A41#;-,3 #40,-54:8#54/G
.20/@:4#12A@,.#/@2A,#;34,345#-,#;2A:1#;256B#E/5;-0#.A==2.41#,3/,#277.=5-0<#
;2A:1#/:;/8.#4H3-@-,#/#.25,#27#@:401#25#/>45/<4#27#,34-5#=/540,.I#74/,A54.B#
(2A:10I,#.A?3#J@:401-0<#-0345-,/0?4J#/:;/8.#.-C=:8#/>45/<4#2A,#/::#1-7745G
40?4.9#,A50-0<#4>458,3-0<#-0,2#A0-725C#<5/8K#)2;#?2A:1#1->45.-,8#.A5>->4#
.A?3#54:40,:4..#/>45/<-0<K#E/5;-0#54?2<0-L41#,34#.45-2A.04..#27#,3-.#?3/:G
:40<49#/01#04-,345#34#025#3-.#C/08#/5140,#.A==25,45.#.A??44141#-0#54.=201-0<#
;-,3 # / # 14.?5-=,-20 # 27 # / # ?20>-0?-0< # /01 # ;4::G12?AC40,41 # C4?3/0-.C # 27#
34541-,8#,3/,#?2A:1#?2C@-04#,5/-,.#27#=/540,.#;3-:4#C/-0,/-0-0<#/0#A0145:8-0<#
/01#A0?3/0<41#-140,-,8B#$34#-14/#,348#044141#;/.#5-<3,#/,#3/019#A0?2>4541#
MJ725CA:/,41J # ;2A:1 # @4 # ,22 # .,520<N # @8 # ,34 # C206 # O54<25 # '4014: # /01#
=A@:-.341#-0#/#54:/,->4:8#2@.?A54#PA.,5-/0#Q2A50/:#-0#+RST9#@A,9#-0#,34#@4.,G
./>2541#-5208#-0#,34#3-.,258#27#.?-40?49#-,#:/8#,3454#A002,-?41#A0,-:#-,.#-CG
=25,/0?4 # ;/. # /==54?-/,41 # M/, # 7-5., # 1-C:8N # /52A01 # +U""B # D,. # ,5-AC=3/0,#
4.,/@:-.3C40,#/,#,34#34/5,#27#,34#J'21450#V80,34.-.J#M-0#4774?,9#,34#.80,34.-.#
27#'4014:#/01#E/5;-0N#;/.#4>40,A/::8#C/14#.4?A54#-0#,34#+UW".9#,3/06.#,2#
,34#;256#27#$34212.-A.#E2@L3/0.689#XA:-/0#)AH:489#%50.,#'/859#/01#2,345.B#
D,#3/.#,/640#/02,345#3/:7G?40,A58#,2#-520#2A,#C2.,#27#,34#;5-06:4.#27#,3/,#04;#
7/@5-?B
$34#7A01/C40,/:#?254#27#?20,4C=25/58#E/5;-0-.C9#,34#,34258#27#EYPG
@/.41#54=521A?,-20#/01#4>2:A,-209#-.#02;#@48201#1-.=A,4#/C20<#.?-40,-.,.B#D,#
14C20.,5/,4.#-,.#=2;45#4>458#1/89#?20,5-@A,-0<#?5A?-/::8#,2#,34#4H=:/0/,-20#27#
=:/04,G.-L41#7/?,.#27#<42:2<8#/01#C4,4252:2<89#,352A<3#C-11:4G.-L41#7/?,.#27#
4?2:2<8 # /01 # /<5202C89 # 12;0 # ,2 # ,34 # :/,4., # C-?52.?2=-? # 7/?,. # 27 # <404,-?#
40<-0445-0<B# D, #A0-7-4.# /:: # 27 # @-2:2<8#/01 # ,34 # 3-.,258# 27 #2A5 # =:/04, # -0,2 #/#
.-0<:4#<5/01#.,258B#&-64#OA::->45#,-41#12;0#-0#&-::-=A,9#-,#-.#A0@A1<4G/@:49#02,#
@4?/A.4 #27# .2C4# 204 #25 #,;2 #3A<4#?3/-0. #27#/5<AC40,# ,3/, #C-<3,Z# 32=4#
/</-0.,#32=4Z3/>4#;4/6#:-06.#-0#,34C9#@A,#@4?/A.4#-,#-.#.4?A54:8#,-41#@8#
3A01541.#27#,32A./01.#27#,354/1.#27#4>-140?4#/0?325-0<#-,#,2#>-5,A/::8#4>458#
2,345#/54/#27#3AC/0#602;:41<4B#Y4;#1-.?2>45-4.#C/8#?20?4->/@:8#:4/1#,2#
15/C/,-?9#4>40#J54>2:A,-20/58J #"'(4&" #-0#,34#E/5;-0-/0#,342589#@A,#,34#32=4#
,3/, # -, # ;-:: # @4 # J547A,41J # @8 # .2C4 # .3/,,45-0< # @54/6,352A<3 # -. # /@2A, # /.#
54/.20/@:4#/.#,34#32=4#,3/,#;4#;-::#54,A50#,2#/#<42?40,5-?#>-.-20#/01#1-.?/51#
[2=450-?A.B
V,-::9#,34#,34258#-.#4C@52-:41#-0#54C/56/@:8#32,G,4C=4541#?20,52>45.89#/01#
204#27#,34#54/.20.#725#,3-.#-0?/014.?40?4#-.#,3/,#,34.4#14@/,4.#/@2A,#.?-40,-7-?#
C/,,45.#/54#A.A/::8#1-.,25,41#@8#74/5.#,3/,#,34#J;520<J#/0.;45#;2A:1#3/>4#
-0,2:45/@:4#C25/:#-C=:-?/,-20.B#V2#<54/,#/54#,34.4#74/5.#,3/,#,348
!"#$%&'()*#+,-./01#
!+
/54#?/547A::8#:47,#A0/5,-?A:/,419#1-.=:/?41#752C#/,,40,-20#@8#.4>45/:#:/845.#27#
1-.,5/?,-0<#54@A,,/:#/01#?2A0,45G54@A,,/:B#$34#1-.=A,/0,.#/54#7254>45#?3/0<-0<#
,34#.A@Q4?,#.:-<3,:89#?20>40-40,:8#644=-0<#,34#@2<48.#-0#,34#.3/12;.B#D,#-.#,3-.#
C-.1-54?,-20#,3/,#-.#C/-0:8#54.=20.-@:4#725#=2.,=20-0<#,34#1/8#;340#;4#?/0#
/::#:->4#/.#?2C725,/@:8#;-,3#2A5#04;#@-2:2<-?/:#=45.=4?,->4#/.#;4#12#;-,3#,34#
/.,5202C-?/:#=45.=4?,->4#[2=450-?A.#</>4#A.B
(3404>45#E/5;-0-.C#-.#,34#,2=-?9#,34#,4C=45/,A54#5-.4.9#@4?/A.4#C254#-.#/,#
.,/64#,3/0#QA.,#,34#4C=-5-?/:#7/?,.#/@2A,#32;#:-74#20#%/5,3#4>2:>419#25#,34#
?2554?,#:2<-?#27#,34#,34258#,3/,#/??2A0,.#725#,32.4#7/?,.B#\04#27#,34#=54?-2A.#
,3-0<.#,3/,#-.#/,#.,/64#-.#/#>-.-20#27#;3/,#-,#C4/0.#,2#/.69#/01#/0.;459#,34#
]A4.,-20#J(38KJ#E/5;-0I.#04;#=45.=4?,->4#,A50.#.4>45/:#,5/1-,-20/:#/..AC=G
,-20.#A=.-14#12;09#A0145C-0-0<#2A5#.,/01/51#-14/.#/@2A,#;3/,#2A<3,#,2#?2A0,#
/.#./,-.78-0<#/0.;45.#,2#,3-.#/0?-40,#/01#-04.?/=/@:4#]A4.,-20B#)454#.?-40?4#
/01 # =3-:2.2=38 # <4, # ?2C=:4,4:8 # -0,45,;-041B # V?-40,-.,. # .2C4,-C4. # 14?4->4#
,34C.4:>4. # -0,2 # ,3-06-0< # ,3/, # =3-:2.2=3-?/: # -14/. # /54 # 20:89 # /, # @4.,9#
14?25/,-20. # 25 # =/5/.-,-? # ?2CC40,/5-4. # 20 # ,34 # 3/519 # 2@Q4?,->4 # ,5-AC=3. # 27#
.?-40?49 #/01 #,3/, #,348#,34C.4:>4. #/54# -CCA04 #,2 #,34# ?207A.-20.# ,3/,# =3-G
:2.2=345. # 14>2,4 # ,34-5 # :->4. # ,2 # 1-..2:>-0<B # ^A, # ,3454 # -. # 02 # .A?3 # ,3-0< # /.#
=3-:2.2=38G7544#.?-40?4_#,3454#-.#20:8#.?-40?4#;32.4#=3-:2.2=3-?/:#@/<</<4#-.#
,/640#20#@2/51#;-,32A,#4H/C-0/,-20B
$34#E/5;-0-/0#`4>2:A,-20#-.#@2,3#/#.?-40,-7-?#/01#/#=3-:2.2=3-?/:#54>2G
:A,-209#/01#04-,345#54>2:A,-20#?2A:1#3/>4#2??A5541#;-,32A,#,34#2,345B#P.#;4#
.3/::#.449#-,#;/.#,34#=3-:2.2=3-?/:#=54QA1-?4.#27#,34#.?-40,-.,.9#C254#,3/0#,34-5#
:/?6#27#.?-40,-7-?#4>-140?49#,3/,#=54>40,41#,34C#752C#.44-0<#32;#,34#,34258#
?2A:1 # /?,A/::8 # ;2569 # @A, # ,32.4 # =3-:2.2=3-?/: # =54QA1-?4. # ,3/, # 3/1 # ,2 # @4#
2>45,352;0 # ;454 # ,22 # 144=:8 # 40,540?341 # ,2 # @4 # 1-.:21<41 # @8 # C454 # =3-:2G
.2=3-?/:#@5-::-/0?4B#D,#,226#/0#-554.-.,-@:4#=/5/14#27#3/51G;20#.?-40,-7-?#7/?,.#
,2 # 725?4 # ,3-0645. # ,2 # ,/64 # .45-2A.:8 # ,34 # ;4-51 # 04; # 2A,:226 # ,3/, # E/5;-0#
=52=2.41B#$32.4#;32#/54#.,-::#-::G/?]A/-0,41#;-,3#,3/,#@4/A,-7A:#=52?4..-20#
?/0#@4#725<->40#,34-5#?20,-0A41#/::4<-/0?4#,2#,34#=54GE/5;-0-/0#-14/.B#P01#
,34#@/,,:4#-.#02,#84,#2>45_#4>40#/C20<#,34#.?-40,-.,.9 #,3454#/54#=2?64,.#27#
54.-.,/0?4B
&4,#C4#:/8#C8#?/51.#20#,34#,/@:4B#D7#D#;454#,2#<->4#/0#/;/51#725#,34#.-0<:4#
@4.,#-14/#/08204#3/.#4>45#3/19#DI1#<->4#-,#,2#E/5;-09#/34/1#27#Y4;,20#/01#
%-0.,4-0 # /01 # 4>458204 # 4:.4B # D0 # / # .-0<:4 # .,52649 # ,34 # -14/ # 27 # 4>2:A,-20 # @8#
0/,A5/:#.4:4?,-20#A0-7-4.#,34#54/:C#27#:-749#C4/0-0<9#/01#=A5=2.4#;-,3#,34#
54/:C#27#.=/?4#/01#,-C49#?/A.4#/01#4774?,9#C4?3/0-.C#/01#=38.-?/:#:/;B#^A,#
-,#-.#02,#QA.,#/#;201457A:#.?-40,-7-?#-14/B#D,#-.#/#1/0<452A.#-14/B#'8#/1C-5/,-20#
725#E/5;-0I.#C/<0-7-?40,#-14/#-.#A0@2A01419#@A,#D9#,229#?345-.3#C/08#27#,34#
-14/.#/01#-14/:.#,3/,#-, #"//5" #,2#?3/::40<49#/01#;/0,#,2#=52,4?,#,34CB#a25#
-0.,/0?49#D#;/0,#,2#=52,4?,#,34#?/C=7-54#.20<9#/01#;3/,#-.#@4/A,-7A:#/01#,5A4#
-0#-,9#725#C8#:-,,:4#<5/01.20#/01#3-.#75-401.9#/01#725#,34-5#?3-:1540#;340#,348#
<52;#A=B#$3454#/54#C/08#C254#C/<0-7-?40,#-14/.#,3/,#/54#/:.2#Q42=/51-L419
!"########$%&&#'%#()*
,-.,.#/01#2,345#,3-0645.#27#3-.#1/89#,3454#54/::8#;454#:/5<4#</=.#-0#3-.#,34258#
,3/,#3/>4#20:8#54?40,:8#@4<A0#,2#@4#=52=45:8#7-::41#-0B#$34#@-<<4.,#</=#:226.#
/:C2.,#?2C-?/:#-0#54,52.=4?,B#D0#/::#3-.#@5-::-/0,#CA.-0<.9#E/5;-0#04>45#3-,#
A=20#,34#?40,5/:#?20?4=,9#;-,32A,#;3-?3#,34#,34258#27#4>2:A,-20#-.#32=4:4..F#
,34#?20?4=,#27#/ #*/)/2 #E/5;-0#3/1#02#=52=45 #3)(& #27#34541-,89#/01#.2#3-.#
/??2A0,#27#,34#=52?4..#27#0/,A5/:#.4:4?,-20#;/. #=:/<A41#;-,3 #40,-54:8#54/G
.20/@:4#12A@,.#/@2A,#;34,345#-,#;2A:1#;256B#E/5;-0#.A==2.41#,3/,#277.=5-0<#
;2A:1#/:;/8.#4H3-@-,#/#.25,#27#@:401#25#/>45/<4#27#,34-5#=/540,.I#74/,A54.B#
(2A:10I,#.A?3#J@:401-0<#-0345-,/0?4J#/:;/8.#.-C=:8#/>45/<4#2A,#/::#1-7745G
40?4.9#,A50-0<#4>458,3-0<#-0,2#A0-725C#<5/8K#)2;#?2A:1#1->45.-,8#.A5>->4#
.A?3#54:40,:4..#/>45/<-0<K#E/5;-0#54?2<0-L41#,34#.45-2A.04..#27#,3-.#?3/:G
:40<49#/01#04-,345#34#025#3-.#C/08#/5140,#.A==25,45.#.A??44141#-0#54.=201-0<#
;-,3 # / # 14.?5-=,-20 # 27 # / # ?20>-0?-0< # /01 # ;4::G12?AC40,41 # C4?3/0-.C # 27#
34541-,8#,3/,#?2A:1#?2C@-04#,5/-,.#27#=/540,.#;3-:4#C/-0,/-0-0<#/0#A0145:8-0<#
/01#A0?3/0<41#-140,-,8B#$34#-14/#,348#044141#;/.#5-<3,#/,#3/019#A0?2>4541#
MJ725CA:/,41J # ;2A:1 # @4 # ,22 # .,520<N # @8 # ,34 # C206 # O54<25 # '4014: # /01#
=A@:-.341#-0#/#54:/,->4:8#2@.?A54#PA.,5-/0#Q2A50/:#-0#+RST9#@A,9#-0#,34#@4.,G
./>2541#-5208#-0#,34#3-.,258#27#.?-40?49#-,#:/8#,3454#A002,-?41#A0,-:#-,.#-CG
=25,/0?4 # ;/. # /==54?-/,41 # M/, # 7-5., # 1-C:8N # /52A01 # +U""B # D,. # ,5-AC=3/0,#
4.,/@:-.3C40,#/,#,34#34/5,#27#,34#J'21450#V80,34.-.J#M-0#4774?,9#,34#.80,34.-.#
27#'4014:#/01#E/5;-0N#;/.#4>40,A/::8#C/14#.4?A54#-0#,34#+UW".9#,3/06.#,2#
,34#;256#27#$34212.-A.#E2@L3/0.689#XA:-/0#)AH:489#%50.,#'/859#/01#2,345.B#
D,#3/.#,/640#/02,345#3/:7G?40,A58#,2#-520#2A,#C2.,#27#,34#;5-06:4.#27#,3/,#04;#
7/@5-?B
$34#7A01/C40,/:#?254#27#?20,4C=25/58#E/5;-0-.C9#,34#,34258#27#EYPG
@/.41#54=521A?,-20#/01#4>2:A,-209#-.#02;#@48201#1-.=A,4#/C20<#.?-40,-.,.B#D,#
14C20.,5/,4.#-,.#=2;45#4>458#1/89#?20,5-@A,-0<#?5A?-/::8#,2#,34#4H=:/0/,-20#27#
=:/04,G.-L41#7/?,.#27#<42:2<8#/01#C4,4252:2<89#,352A<3#C-11:4G.-L41#7/?,.#27#
4?2:2<8 # /01 # /<5202C89 # 12;0 # ,2 # ,34 # :/,4., # C-?52.?2=-? # 7/?,. # 27 # <404,-?#
40<-0445-0<B# D, #A0-7-4.# /:: # 27 # @-2:2<8#/01 # ,34 # 3-.,258# 27 #2A5 # =:/04, # -0,2 #/#
.-0<:4#<5/01#.,258B#&-64#OA::->45#,-41#12;0#-0#&-::-=A,9#-,#-.#A0@A1<4G/@:49#02,#
@4?/A.4 #27# .2C4# 204 #25 #,;2 #3A<4#?3/-0. #27#/5<AC40,# ,3/, #C-<3,Z# 32=4#
/</-0.,#32=4Z3/>4#;4/6#:-06.#-0#,34C9#@A,#@4?/A.4#-,#-.#.4?A54:8#,-41#@8#
3A01541.#27#,32A./01.#27#,354/1.#27#4>-140?4#/0?325-0<#-,#,2#>-5,A/::8#4>458#
2,345#/54/#27#3AC/0#602;:41<4B#Y4;#1-.?2>45-4.#C/8#?20?4->/@:8#:4/1#,2#
15/C/,-?9#4>40#J54>2:A,-20/58J #"'(4&" #-0#,34#E/5;-0-/0#,342589#@A,#,34#32=4#
,3/, # -, # ;-:: # @4 # J547A,41J # @8 # .2C4 # .3/,,45-0< # @54/6,352A<3 # -. # /@2A, # /.#
54/.20/@:4#/.#,34#32=4#,3/,#;4#;-::#54,A50#,2#/#<42?40,5-?#>-.-20#/01#1-.?/51#
[2=450-?A.B
V,-::9#,34#,34258#-.#4C@52-:41#-0#54C/56/@:8#32,G,4C=4541#?20,52>45.89#/01#
204#27#,34#54/.20.#725#,3-.#-0?/014.?40?4#-.#,3/,#,34.4#14@/,4.#/@2A,#.?-40,-7-?#
C/,,45.#/54#A.A/::8#1-.,25,41#@8#74/5.#,3/,#,34#J;520<J#/0.;45#;2A:1#3/>4#
-0,2:45/@:4#C25/:#-C=:-?/,-20.B#V2#<54/,#/54#,34.4#74/5.#,3/,#,348
!"#$%&'()*#+,-./01#
!+
/54#?/547A::8#:47,#A0/5,-?A:/,419#1-.=:/?41#752C#/,,40,-20#@8#.4>45/:#:/845.#27#
1-.,5/?,-0<#54@A,,/:#/01#?2A0,45G54@A,,/:B#$34#1-.=A,/0,.#/54#7254>45#?3/0<-0<#
,34#.A@Q4?,#.:-<3,:89#?20>40-40,:8#644=-0<#,34#@2<48.#-0#,34#.3/12;.B#D,#-.#,3-.#
C-.1-54?,-20#,3/,#-.#C/-0:8#54.=20.-@:4#725#=2.,=20-0<#,34#1/8#;340#;4#?/0#
/::#:->4#/.#?2C725,/@:8#;-,3#2A5#04;#@-2:2<-?/:#=45.=4?,->4#/.#;4#12#;-,3#,34#
/.,5202C-?/:#=45.=4?,->4#[2=450-?A.#</>4#A.B
(3404>45#E/5;-0-.C#-.#,34#,2=-?9#,34#,4C=45/,A54#5-.4.9#@4?/A.4#C254#-.#/,#
.,/64#,3/0#QA.,#,34#4C=-5-?/:#7/?,.#/@2A,#32;#:-74#20#%/5,3#4>2:>419#25#,34#
?2554?,#:2<-?#27#,34#,34258#,3/,#/??2A0,.#725#,32.4#7/?,.B#\04#27#,34#=54?-2A.#
,3-0<.#,3/,#-.#/,#.,/64#-.#/#>-.-20#27#;3/,#-,#C4/0.#,2#/.69#/01#/0.;459#,34#
]A4.,-20#J(38KJ#E/5;-0I.#04;#=45.=4?,->4#,A50.#.4>45/:#,5/1-,-20/:#/..AC=G
,-20.#A=.-14#12;09#A0145C-0-0<#2A5#.,/01/51#-14/.#/@2A,#;3/,#2A<3,#,2#?2A0,#
/.#./,-.78-0<#/0.;45.#,2#,3-.#/0?-40,#/01#-04.?/=/@:4#]A4.,-20B#)454#.?-40?4#
/01 # =3-:2.2=38 # <4, # ?2C=:4,4:8 # -0,45,;-041B # V?-40,-.,. # .2C4,-C4. # 14?4->4#
,34C.4:>4. # -0,2 # ,3-06-0< # ,3/, # =3-:2.2=3-?/: # -14/. # /54 # 20:89 # /, # @4.,9#
14?25/,-20. # 25 # =/5/.-,-? # ?2CC40,/5-4. # 20 # ,34 # 3/519 # 2@Q4?,->4 # ,5-AC=3. # 27#
.?-40?49 #/01 #,3/, #,348#,34C.4:>4. #/54# -CCA04 #,2 #,34# ?207A.-20.# ,3/,# =3-G
:2.2=345. # 14>2,4 # ,34-5 # :->4. # ,2 # 1-..2:>-0<B # ^A, # ,3454 # -. # 02 # .A?3 # ,3-0< # /.#
=3-:2.2=38G7544#.?-40?4_#,3454#-.#20:8#.?-40?4#;32.4#=3-:2.2=3-?/:#@/<</<4#-.#
,/640#20#@2/51#;-,32A,#4H/C-0/,-20B
$34#E/5;-0-/0#`4>2:A,-20#-.#@2,3#/#.?-40,-7-?#/01#/#=3-:2.2=3-?/:#54>2G
:A,-209#/01#04-,345#54>2:A,-20#?2A:1#3/>4#2??A5541#;-,32A,#,34#2,345B#P.#;4#
.3/::#.449#-,#;/.#,34#=3-:2.2=3-?/:#=54QA1-?4.#27#,34#.?-40,-.,.9#C254#,3/0#,34-5#
:/?6#27#.?-40,-7-?#4>-140?49#,3/,#=54>40,41#,34C#752C#.44-0<#32;#,34#,34258#
?2A:1 # /?,A/::8 # ;2569 # @A, # ,32.4 # =3-:2.2=3-?/: # =54QA1-?4. # ,3/, # 3/1 # ,2 # @4#
2>45,352;0 # ;454 # ,22 # 144=:8 # 40,540?341 # ,2 # @4 # 1-.:21<41 # @8 # C454 # =3-:2G
.2=3-?/:#@5-::-/0?4B#D,#,226#/0#-554.-.,-@:4#=/5/14#27#3/51G;20#.?-40,-7-?#7/?,.#
,2 # 725?4 # ,3-0645. # ,2 # ,/64 # .45-2A.:8 # ,34 # ;4-51 # 04; # 2A,:226 # ,3/, # E/5;-0#
=52=2.41B#$32.4#;32#/54#.,-::#-::G/?]A/-0,41#;-,3#,3/,#@4/A,-7A:#=52?4..-20#
?/0#@4#725<->40#,34-5#?20,-0A41#/::4<-/0?4#,2#,34#=54GE/5;-0-/0#-14/.B#P01#
,34#@/,,:4#-.#02,#84,#2>45_#4>40#/C20<#,34#.?-40,-.,.9 #,3454#/54#=2?64,.#27#
54.-.,/0?4B
&4,#C4#:/8#C8#?/51.#20#,34#,/@:4B#D7#D#;454#,2#<->4#/0#/;/51#725#,34#.-0<:4#
@4.,#-14/#/08204#3/.#4>45#3/19#DI1#<->4#-,#,2#E/5;-09#/34/1#27#Y4;,20#/01#
%-0.,4-0 # /01 # 4>458204 # 4:.4B # D0 # / # .-0<:4 # .,52649 # ,34 # -14/ # 27 # 4>2:A,-20 # @8#
0/,A5/:#.4:4?,-20#A0-7-4.#,34#54/:C#27#:-749#C4/0-0<9#/01#=A5=2.4#;-,3#,34#
54/:C#27#.=/?4#/01#,-C49#?/A.4#/01#4774?,9#C4?3/0-.C#/01#=38.-?/:#:/;B#^A,#
-,#-.#02,#QA.,#/#;201457A:#.?-40,-7-?#-14/B#D,#-.#/#1/0<452A.#-14/B#'8#/1C-5/,-20#
725#E/5;-0I.#C/<0-7-?40,#-14/#-.#A0@2A01419#@A,#D9#,229#?345-.3#C/08#27#,34#
-14/.#/01#-14/:.#,3/,#-, #"//5" #,2#?3/::40<49#/01#;/0,#,2#=52,4?,#,34CB#a25#
-0.,/0?49#D#;/0,#,2#=52,4?,#,34#?/C=7-54#.20<9#/01#;3/,#-.#@4/A,-7A:#/01#,5A4#
-0#-,9#725#C8#:-,,:4#<5/01.20#/01#3-.#75-401.9#/01#725#,34-5#?3-:1540#;340#,348#
<52;#A=B#$3454#/54#C/08#C254#C/<0-7-?40,#-14/.#,3/,#/54#/:.2#Q42=/51-L419
!!"""""""#$%%"&$"'()
6)$&4#6)"."4#6)"%4#6)*7$%8#5'!9#######!R
*+",--.,/"01"2345*67,"*8-3/"368"+9-1/ "+::/".31"6--8";4:+-<+*:6= "#9-":6>1"
?::8"531"+:"8:"+9*,@+9-":6>1"531"+93+"93,"3"<936<-"*6"+9-">:6?"4A6@*,"+:"
<A+ " +94:A?9 " +9- " ,.:B-,<4--6, " 368 " >::B " 3+ " +9- " *8-3 " 3, " A6C>*6<9*6?>1/ " 3,"
8*,;3,,*:63+->1/"3,";:,,*0>-=
D6"+9*,":<<3,*:6/"5-"34-"6:+"?:*6?"+:",-++>-"C:4"E#9-4-/"+9-4-/"*+"5*>>"3>>"
<:.-":A+"3>>"4*?9+=E"DA4"-F3.*63+*:6"5*>>"+3B-"3"<-4+3*6"3.:A6+":C"6-4G-="
H-->*6?,".31"?-+"9A4+="'4*+-4,":6"-G:>A+*:6"A,A3>>1",+--4"<>-34":C"+9*,"3;I
;34-6+"<>3,9"0-+5--6",<*-6<-"368"4->*?*:6="H::>,"4A,9"*6/"J>-F368-4"K:;-"
,3*8/"59-4-"36?->,"C-34"+:"+4-38="2:"1:A"536+"+:"C:>>:5".-L"2:67+"1:A"4-3>>1"
536+"+:"B6:5"593+",A4G*G-,"+9*,"<:6C4:6+3+*:6L"'93+"*C"*+"+A46,":A+"+93+"+9-"
,5--+"G*,*:6@:4"3"0-++-4":6-@,A4G*G-,"*6+3<+/",+4-6?+9-6-8"368"8--;-6-8"
01" +9- " -6<:A6+-4L "':A>867+" *+ " 0- " 3 " ,93.-" +: " C:4?:" +9- " :;;:4+A6*+1" C:4 " 3"
,+4-6?+9-6-8/"4-6-5-8"<4--8/",-++>*6?"*6,+-38"C:4"3"C43?*>-/",*<B0-8"C3*+9"+93+"
1:A".*,+3B-6>1",A;;:,-8".A,+"6:+"0-"8*,+A40-8L
#9-4-"*,"6:"CA+A4-"*6"3",3<4-8".1+9="'91"6:+L"M-<3A,-":C":A4"<A4*:,*+1="
M-<3A,-/ " 3, " +9- " ,:6? " 4-.*68, " A,/ "!" # !$%& # &' # (%'! # !)*+ #'- " .31 " 93G-"
:A+?4:56"+9-",:6?7,"36,5-4/"0A+"5-"5*>>"6-G-4":A+?4:5"+9-"NA-,+*:6="'93+I
-G-4"5-"9:>8";4-<*:A,/"5-"<366:+";4:+-<+"*+"C4:.":A4"<A4*:,*+1/"0-<3A,-"0-*6?"
59:"5-"34-/":6-":C"+9-"+9*6?,"5-"8--.";4-<*:A,"*,"+9-"+4A+9="DA4">:G-":C"+4A+9"
*,",A4->1"3"<-6+43>"->-.-6+"*6"+9-".-36*6?"5-"C*68"*6":A4">*G-,="O6"361"<3,-/"+9-"
*8-3 " +93+ " 5- " .*?9+ " ;4-,-4G- " .-36*6? " 01 " B*88*6? " :A4,->G-, " *, " 3 " .:4-"
;-,,*.*,+*</".:4-"6*9*>*,+*<"*8-3"+936"O"C:4":6-"<36",+:.3<9="OC"+93+"5-4-"+9-"
0-,+"+93+"<:A>8"0-"8:6-/"O"5:A>8"<:6<>A8-"+93+"6:+9*6?".3++-4-8"3C+-4"3>>=
#9*,"0::B/"+9-6/"*,"C:4"+9:,-"59:"3?4--"+93+"+9-":6>1".-36*6?":C">*C-"5:4+9"
<34*6?"30:A+"*,":6-"+93+"<36"5*+9,+368":A4"0-,+"-CC:4+,"+:"-F3.*6-"*+="D+9-4,"
34-"38G*,-8"+:"<>:,-"+9-"0::B"6:5"368"+*;+:-"3531=
H:4 " +9:,- " 59: " ,+31/ " 9-4- " *, " 8*- " ;>36= " K34+ " O " :C " +9- " 0::B " >:<3+-, " +9-"
2345*6*36"P-G:>A+*:6"*6"+9-">34?-4",<9-.-":C"+9*6?,/",9:5*6?"9:5"*+"<36"
+436,C:4."+9-"5:4>8IG*-5":C"+9:,-"59:"B6:5"*+,"8-+3*>,="#9*,"C*4,+"<93;+-4"
,-+,":A+"8*-"03<B?4:A68":C";9*>:,:;9*<3>"*8-3,"+93+"8:.*63+-8":A4"+9:A?9+"
0-C:4-"2345*6="Q93;+-4"!"*6+4:8A<-,"2345*67,"<-6+43>"*8-3"*6"3",:.-593+"
6-5"?A*,-/"3,"+9-"*8-3":C"-G:>A+*:6"3,"36"$,-'./&)0/1#2.'1"334#368"<>-34,"A;"
,:.- " <:..:6 " .*,A68-4,+368*6?, " :C " *+= " Q93;+-4 " R " ,9:5, " 9:5 " +9*, " *8-3"
:G-4+A46,"+9-"+438*+*:6"-6<:A6+-4-8"*6"<93;+-4"S="Q93;+-4,"T"368"U"-F;>:4-"
,:.-":C"+9-",+4*B*6?@368"A6,-++>*6?@;-4,;-<+*G-,"+93+"+9-"2345*6*36"531"
:C"+9*6B*6?":;-6,"A;=
K34+"OO"-F3.*6-,"+9-"<93>>-6?-,"+:"2345*67,"*8-3@+:"6-:I2345*6*,.":4"
+9-"&:8-46"V16+9-,*,@+93+"93G-"34*,-6"5*+9*6"0*:>:?1"*+,->C/",9:5*6?"+93+"
<:6+4341"+:"593+",:.-":C"*+,":;;:6-6+,"93G-"8-<>34-8/"2345*67,"*8-3",A4G*G-,"
+9-,-"<:6+4:G-4,*-,"6:+"WA,+"*6+3<+"0A+",+4-6?+9-6-8="K34+"(O"+9-6",9:5,"593+"
93;;-6,"59-6"+9-",3.-"+9*6B*6?"*,"-F+-68-8"+:"+9-",;-<*-,"5-"<34-"30:A+"
.:,+X"5'0'#3$2/"%3+#2345*6"9*.,->C"CA>>1"4-<:?6*Y-8"+93+"+9*,
53,"?:*6?"+:"0-"+9-",+*<B*6?";:*6+"C:4".361";-:;>-/"368"9-"8*8"593+"9-"<:A>8"
+:"04-3B"+9-"6-5,"?-6+>1="&:4-"+936"3"<-6+A41">3+-4/"+9-4-"34-",+*>>"+9:,-"59:"
536+ " +: " 8*? " 3 " .:3+ " ,-;343+*6? " A, " C4:. " .:,+ " *C " 6:+ " 3>> " :C " +9- " 84-38CA>"
*.;>*<3+*:6,"+9-1"+9*6B"+9-1",--"*6"2345*6*,.="K34+"OOO",9:5,"+93+"+9*,"*,"36"
-44:4":C"0:+9"C3<+"368",+43+-?1Z"6:+":6>1"8:-,"2345*67,"836?-4:A,"*8-3"3;;>1"
+:"A,"8*4-<+>1"368"3+".361">-G->,/"0A+"+9-";4:;-4"3;;>*<3+*:6":C"2345*6*36"
+9*6B*6?" +: "9A.36" *,,A-,@:C ".*68/ ">36?A3?-/ "B6:5>-8?-/" 368 "-+9*<,/ "C:4"
*6,+36<-@*>>A.*63+-,"+9-."*6"531,"+93+"93G-"3>531,"->A8-8"+9-"+438*+*:63>"
3;;4:3<9-,/"4-<3,+*6?"36<*-6+";4:0>-.,"368";:*6+*6?"+:"8*-*4",:>A+*:6="H*63>>1/"
5- " <36 " 3,,-,, " +9- " 034?3*6 " 5- " ?-+ " 59-6 " 5- " +438- " *6 " ;4-I2345*6*36 " C:4"
2345*6*36"+9*6B*6?/"*8-6+*C1*6?"0:+9"*+,"A,-,"368"30A,-,/"368",9:5*6?"9:5"
593+ " 4-3>>1 " .3++-4, " +: " A,@368 " :A?9+ " +: " .3++-4 " +: " A,@,9*6-, " +94:A?9/"
+436,C:4.-8"0A+"-6936<-8"01"*+,";3,,3?-"+94:A?9"+9-"2345*6*36"P-G:>A+*:6=
!="'(J#/"'($P$/"'($[/"'()@J[2"(D'L
DA4"<A4*:,*+1"30:A+"+9*6?,"+3B-,"8*CC-4-6+"C:4.,/"3,"J4*,+:+>-"6:+-8"3+"+9-"
8356":C"9A.36",<*-6<-="(*,";*:6--4*6?"-CC:4+"+:"<>3,,*C1"+9-.",+*>>".3B-,"3"
>:+ ":C" ,-6,-= " (- "*8-6+*C*-8" C:A4 "03,*< "NA-,+*:6, " 5- ".*?9+" 536+ "36,5-4-8"
30:A+"361+9*6?/"368"<3>>-8"+9-*4"36,5-4,"+9-"C:A4"$/&/$4#3"+4A>1"A6+436,>3+30>-"
\4--B"+-4."+438*+*:63>>1"0A+"35B5348>1"+436,>3+-8"+9-"C:A4"E<3A,-,=E
]S^'-".31"0-"<A4*:A,"30:A+"593+",:.-+9*6?"*,".38-":C/"*+,".3++-4":4"
0$&"./$,#1$:3"+
]!^'-".31"0-"<A4*:A,"30:A+ "+9-"C:4. "]:4",+4A<+A4- ":4",93;-^ "+93+"+93+"
.3++-4"+3B-,/"*+,";'.0$,#1$:3"+
]R^'- " .31 " 0- " <A4*:A, " 30:A+ " *+, " 0-?*66*6?/ " 9:5 " *+ " ?:+ " ,+34+-8/ " :4 " *+,"
";;/1/"%&#1$:3"+
]T^'-".31"0-"<A4*:A,"30:A+"*+,"2:.2'3"#'.#-'$,#:4""%8#]3,"*6"E2:"+9-"-68,"
WA,+*C1"+9-".-36,LE"^/"59*<9"J4*,+:+>-"<3>>-8"*+,"&",'34#,:.-+*.-,"+436,>3+-8"
*6"$6?>*,9/"35B5348>1/"3,"EC*63>"<3A,-=E
O+"+3B-,",:.-";*6<9*6?"368",9:G*6?"+:".3B-"+9-,-"C:A4"J4*,+:+->*36 "$/&/$#
>*6-"A;"3,"+9-"36,5-4,"+:"+9-",+368348"$6?>*,9"NA-,+*:6,"E593+/"59-4-/"59-6/"
368 "591=E "#9-" C*+ "*, " :6>1" C*+CA>>1"?::8= "_A-,+*:6, " 0-?*66*6?"5*+9 " E591/E"
9:5-G-4/"8:",+368348>1"3,B"C:4"J4*,+:+>-7,"C:A4+9"E<3A,-/E"+9-"&",'3#:C"3"+9*6?="
'91"+9*,L"5-"3,B="'93+"*,"*+`:4L"J,"+9-"H4-6<9",31/"593+"*,"*+,".$/3'%#8<"&."4#
:4"4-3,:6"C:4"0-*6?L"H:4"9A684-8,":C"1-34,/"+9-,-"E591E"NA-,+*:6,"93G-"0--6"
4-<:?6*Y-8"3,";4:0>-.3+*<"01";9*>:,:;9-4,"368",<*-6+*,+,/",:"8*,+*6<+"+93+"+9-"
+:;*<"+9-1"43*,-"8-,-4G-,"3"63.-X"+->-:>:?1=
!!"""""""#$%%"&$"'()
6)$&4#6)"."4#6)"%4#6)*7$%8#5'!9#######!R
*+",--.,/"01"2345*67,"*8-3/"368"+9-1/ "+::/".31"6--8";4:+-<+*:6= "#9-":6>1"
?::8"531"+:"8:"+9*,@+9-":6>1"531"+93+"93,"3"<936<-"*6"+9-">:6?"4A6@*,"+:"
<A+ " +94:A?9 " +9- " ,.:B-,<4--6, " 368 " >::B " 3+ " +9- " *8-3 " 3, " A6C>*6<9*6?>1/ " 3,"
8*,;3,,*:63+->1/"3,";:,,*0>-=
D6"+9*,":<<3,*:6/"5-"34-"6:+"?:*6?"+:",-++>-"C:4"E#9-4-/"+9-4-/"*+"5*>>"3>>"
<:.-":A+"3>>"4*?9+=E"DA4"-F3.*63+*:6"5*>>"+3B-"3"<-4+3*6"3.:A6+":C"6-4G-="
H-->*6?,".31"?-+"9A4+="'4*+-4,":6"-G:>A+*:6"A,A3>>1",+--4"<>-34":C"+9*,"3;I
;34-6+"<>3,9"0-+5--6",<*-6<-"368"4->*?*:6="H::>,"4A,9"*6/"J>-F368-4"K:;-"
,3*8/"59-4-"36?->,"C-34"+:"+4-38="2:"1:A"536+"+:"C:>>:5".-L"2:67+"1:A"4-3>>1"
536+"+:"B6:5"593+",A4G*G-,"+9*,"<:6C4:6+3+*:6L"'93+"*C"*+"+A46,":A+"+93+"+9-"
,5--+"G*,*:6@:4"3"0-++-4":6-@,A4G*G-,"*6+3<+/",+4-6?+9-6-8"368"8--;-6-8"
01" +9- " -6<:A6+-4L "':A>867+" *+ " 0- " 3 " ,93.-" +: " C:4?:" +9- " :;;:4+A6*+1" C:4 " 3"
,+4-6?+9-6-8/"4-6-5-8"<4--8/",-++>*6?"*6,+-38"C:4"3"C43?*>-/",*<B0-8"C3*+9"+93+"
1:A".*,+3B-6>1",A;;:,-8".A,+"6:+"0-"8*,+A40-8L
#9-4-"*,"6:"CA+A4-"*6"3",3<4-8".1+9="'91"6:+L"M-<3A,-":C":A4"<A4*:,*+1="
M-<3A,-/ " 3, " +9- " ,:6? " 4-.*68, " A,/ "!" # !$%& # &' # (%'! # !)*+ #'- " .31 " 93G-"
:A+?4:56"+9-",:6?7,"36,5-4/"0A+"5-"5*>>"6-G-4":A+?4:5"+9-"NA-,+*:6="'93+I
-G-4"5-"9:>8";4-<*:A,/"5-"<366:+";4:+-<+"*+"C4:.":A4"<A4*:,*+1/"0-<3A,-"0-*6?"
59:"5-"34-/":6-":C"+9-"+9*6?,"5-"8--.";4-<*:A,"*,"+9-"+4A+9="DA4">:G-":C"+4A+9"
*,",A4->1"3"<-6+43>"->-.-6+"*6"+9-".-36*6?"5-"C*68"*6":A4">*G-,="O6"361"<3,-/"+9-"
*8-3 " +93+ " 5- " .*?9+ " ;4-,-4G- " .-36*6? " 01 " B*88*6? " :A4,->G-, " *, " 3 " .:4-"
;-,,*.*,+*</".:4-"6*9*>*,+*<"*8-3"+936"O"C:4":6-"<36",+:.3<9="OC"+93+"5-4-"+9-"
0-,+"+93+"<:A>8"0-"8:6-/"O"5:A>8"<:6<>A8-"+93+"6:+9*6?".3++-4-8"3C+-4"3>>=
#9*,"0::B/"+9-6/"*,"C:4"+9:,-"59:"3?4--"+93+"+9-":6>1".-36*6?":C">*C-"5:4+9"
<34*6?"30:A+"*,":6-"+93+"<36"5*+9,+368":A4"0-,+"-CC:4+,"+:"-F3.*6-"*+="D+9-4,"
34-"38G*,-8"+:"<>:,-"+9-"0::B"6:5"368"+*;+:-"3531=
H:4 " +9:,- " 59: " ,+31/ " 9-4- " *, " 8*- " ;>36= " K34+ " O " :C " +9- " 0::B " >:<3+-, " +9-"
2345*6*36"P-G:>A+*:6"*6"+9-">34?-4",<9-.-":C"+9*6?,/",9:5*6?"9:5"*+"<36"
+436,C:4."+9-"5:4>8IG*-5":C"+9:,-"59:"B6:5"*+,"8-+3*>,="#9*,"C*4,+"<93;+-4"
,-+,":A+"8*-"03<B?4:A68":C";9*>:,:;9*<3>"*8-3,"+93+"8:.*63+-8":A4"+9:A?9+"
0-C:4-"2345*6="Q93;+-4"!"*6+4:8A<-,"2345*67,"<-6+43>"*8-3"*6"3",:.-593+"
6-5"?A*,-/"3,"+9-"*8-3":C"-G:>A+*:6"3,"36"$,-'./&)0/1#2.'1"334#368"<>-34,"A;"
,:.- " <:..:6 " .*,A68-4,+368*6?, " :C " *+= " Q93;+-4 " R " ,9:5, " 9:5 " +9*, " *8-3"
:G-4+A46,"+9-"+438*+*:6"-6<:A6+-4-8"*6"<93;+-4"S="Q93;+-4,"T"368"U"-F;>:4-"
,:.-":C"+9-",+4*B*6?@368"A6,-++>*6?@;-4,;-<+*G-,"+93+"+9-"2345*6*36"531"
:C"+9*6B*6?":;-6,"A;=
K34+"OO"-F3.*6-,"+9-"<93>>-6?-,"+:"2345*67,"*8-3@+:"6-:I2345*6*,.":4"
+9-"&:8-46"V16+9-,*,@+93+"93G-"34*,-6"5*+9*6"0*:>:?1"*+,->C/",9:5*6?"+93+"
<:6+4341"+:"593+",:.-":C"*+,":;;:6-6+,"93G-"8-<>34-8/"2345*67,"*8-3",A4G*G-,"
+9-,-"<:6+4:G-4,*-,"6:+"WA,+"*6+3<+"0A+",+4-6?+9-6-8="K34+"(O"+9-6",9:5,"593+"
93;;-6,"59-6"+9-",3.-"+9*6B*6?"*,"-F+-68-8"+:"+9-",;-<*-,"5-"<34-"30:A+"
.:,+X"5'0'#3$2/"%3+#2345*6"9*.,->C"CA>>1"4-<:?6*Y-8"+93+"+9*,
53,"?:*6?"+:"0-"+9-",+*<B*6?";:*6+"C:4".361";-:;>-/"368"9-"8*8"593+"9-"<:A>8"
+:"04-3B"+9-"6-5,"?-6+>1="&:4-"+936"3"<-6+A41">3+-4/"+9-4-"34-",+*>>"+9:,-"59:"
536+ " +: " 8*? " 3 " .:3+ " ,-;343+*6? " A, " C4:. " .:,+ " *C " 6:+ " 3>> " :C " +9- " 84-38CA>"
*.;>*<3+*:6,"+9-1"+9*6B"+9-1",--"*6"2345*6*,.="K34+"OOO",9:5,"+93+"+9*,"*,"36"
-44:4":C"0:+9"C3<+"368",+43+-?1Z"6:+":6>1"8:-,"2345*67,"836?-4:A,"*8-3"3;;>1"
+:"A,"8*4-<+>1"368"3+".361">-G->,/"0A+"+9-";4:;-4"3;;>*<3+*:6":C"2345*6*36"
+9*6B*6?" +: "9A.36" *,,A-,@:C ".*68/ ">36?A3?-/ "B6:5>-8?-/" 368 "-+9*<,/ "C:4"
*6,+36<-@*>>A.*63+-,"+9-."*6"531,"+93+"93G-"3>531,"->A8-8"+9-"+438*+*:63>"
3;;4:3<9-,/"4-<3,+*6?"36<*-6+";4:0>-.,"368";:*6+*6?"+:"8*-*4",:>A+*:6="H*63>>1/"
5- " <36 " 3,,-,, " +9- " 034?3*6 " 5- " ?-+ " 59-6 " 5- " +438- " *6 " ;4-I2345*6*36 " C:4"
2345*6*36"+9*6B*6?/"*8-6+*C1*6?"0:+9"*+,"A,-,"368"30A,-,/"368",9:5*6?"9:5"
593+ " 4-3>>1 " .3++-4, " +: " A,@368 " :A?9+ " +: " .3++-4 " +: " A,@,9*6-, " +94:A?9/"
+436,C:4.-8"0A+"-6936<-8"01"*+,";3,,3?-"+94:A?9"+9-"2345*6*36"P-G:>A+*:6=
!="'(J#/"'($P$/"'($[/"'()@J[2"(D'L
DA4"<A4*:,*+1"30:A+"+9*6?,"+3B-,"8*CC-4-6+"C:4.,/"3,"J4*,+:+>-"6:+-8"3+"+9-"
8356":C"9A.36",<*-6<-="(*,";*:6--4*6?"-CC:4+"+:"<>3,,*C1"+9-.",+*>>".3B-,"3"
>:+ ":C" ,-6,-= " (- "*8-6+*C*-8" C:A4 "03,*< "NA-,+*:6, " 5- ".*?9+" 536+ "36,5-4-8"
30:A+"361+9*6?/"368"<3>>-8"+9-*4"36,5-4,"+9-"C:A4"$/&/$4#3"+4A>1"A6+436,>3+30>-"
\4--B"+-4."+438*+*:63>>1"0A+"35B5348>1"+436,>3+-8"+9-"C:A4"E<3A,-,=E
]S^'-".31"0-"<A4*:A,"30:A+"593+",:.-+9*6?"*,".38-":C/"*+,".3++-4":4"
0$&"./$,#1$:3"+
]!^'-".31"0-"<A4*:A,"30:A+ "+9-"C:4. "]:4",+4A<+A4- ":4",93;-^ "+93+"+93+"
.3++-4"+3B-,/"*+,";'.0$,#1$:3"+
]R^'- " .31 " 0- " <A4*:A, " 30:A+ " *+, " 0-?*66*6?/ " 9:5 " *+ " ?:+ " ,+34+-8/ " :4 " *+,"
";;/1/"%&#1$:3"+
]T^'-".31"0-"<A4*:A,"30:A+"*+,"2:.2'3"#'.#-'$,#:4""%8#]3,"*6"E2:"+9-"-68,"
WA,+*C1"+9-".-36,LE"^/"59*<9"J4*,+:+>-"<3>>-8"*+,"&",'34#,:.-+*.-,"+436,>3+-8"
*6"$6?>*,9/"35B5348>1/"3,"EC*63>"<3A,-=E
O+"+3B-,",:.-";*6<9*6?"368",9:G*6?"+:".3B-"+9-,-"C:A4"J4*,+:+->*36 "$/&/$#
>*6-"A;"3,"+9-"36,5-4,"+:"+9-",+368348"$6?>*,9"NA-,+*:6,"E593+/"59-4-/"59-6/"
368 "591=E "#9-" C*+ "*, " :6>1" C*+CA>>1"?::8= "_A-,+*:6, " 0-?*66*6?"5*+9 " E591/E"
9:5-G-4/"8:",+368348>1"3,B"C:4"J4*,+:+>-7,"C:A4+9"E<3A,-/E"+9-"&",'3#:C"3"+9*6?="
'91"+9*,L"5-"3,B="'93+"*,"*+`:4L"J,"+9-"H4-6<9",31/"593+"*,"*+,".$/3'%#8<"&."4#
:4"4-3,:6"C:4"0-*6?L"H:4"9A684-8,":C"1-34,/"+9-,-"E591E"NA-,+*:6,"93G-"0--6"
4-<:?6*Y-8"3,";4:0>-.3+*<"01";9*>:,:;9-4,"368",<*-6+*,+,/",:"8*,+*6<+"+93+"+9-"
+:;*<"+9-1"43*,-"8-,-4G-,"3"63.-X"+->-:>:?1=
!"#######$%&&#'%#()*
,#$'1'.1.234#1&-./01213452#46#52-#3713#-./01426#37-#-.463-28-#59#588:99-28-#
5;#65<-3742=#>?#84342=#1#=510#59#/:9/56-#3713#46#6-9@-A#>?#37-#3742=B#,934;1836#
19-#37-#<563#5>@45:6#816-6C#37-#=510#59#/:9/56-#5;#12#1934;183#46#37-#;:283452#43#
D16#A-64=2-A#35#6-9@-#>?#436#89-1359B#$7-9-#46#25#852395@-96?#1>5:3#37-#$'1.5&
5;#1#71<<-9E#43#46#;59#71<<-942=#42#12A#/:0042=#5:3#21406B#$7-#$'1.5&5;#<59-#
85</04813-A#1934;1836F#6:87#16#81<859A-96#59#35D#39:8G6#59#H$#68122-96F#46#4;#
12?3742=#<59-#5>@45:6B#I:3#-@-2#42#64</0-#816-6F#1#/95>0-<#812#>-#6--2#35#
055<#42#37-#>18G=95:2AE
J(7?#19-#?5:#61D42=#3713#>519AKJ#
J$5#<1G-#1#A559BJ
J,2A#D713#46#37-#A559#;59KJ#
J$5#6-8:9-#<?#75:6-BJ
J,2A#D7?#A5#?5:#D123#1#6-8:9-#75:6-KJ#
JL5#M#812#60--/#24=736BJ
J,2A#D7?#A5#?5:#D123#35#60--/#24=736KJ#JN5#9:2#
1052=#12A#635/#16G42=#6:87#6400?#O:-634526BJ
$746#-.8712=-#9-@-106#52-#5;#37-#395:>0-6#D437#3-0-505=?E#D7-9-#A5-6#43#100#
635/K#(713#63)#1&;4210#81:6-#812#>-#843-A#35#>942=#3746#74-91987?#5;#9-16526#35#1#
8056-K#,9463530-#71A#12#126D-9E#N5AF#37-#P94<-#'5@-9F#37-#6.(7/"34"&35#-2A#
100# 6.(7/"34"'58 &$7-#4A-1F#D7487#46#31G-2#:/#>?#37-#H79463412F#Q-D467F#12A#
M601<48#391A434526F#46#3713#100#.9(&/:9/56-6#19-#:034<13-0?#N5AR6#/:9/56-6B#$7-#
4A-1# 46# 8-931420?#213:910 #12A #13391834@-B #M; #D- #055G#13 #1 #/58G-3#D1387 # 12A#
D52A-9#/"*&43#716#1#80-19#=0166#89?6310#52#436#;18-F#37-#126D-9#5>@45:60?#719G6#
>18G#35#37-#2--A6#12A#A-649-6#5;#37-#:6-96#5;#D1387-6F#D75#D123#35#3-00#34<-F#
>?# 055G42=# 13 # 37- # 712A6 # 3795:=7 # 37- # 39126/19-23F # /953-834@- # =0166F# 12A # 65#
;5937B#M;#43#D-9-2R3#;59#37-6-#;1836#1>5:3#95%&;59#D75<#37-#D1387#D16#89-13-AF#
37-9-#D5:0A#>-#25#-./01213452#5;#37-#JD7?J#5;#436#89?6310B#M;#37-#:24@-96-#D16#
89-13-A#>?#N5AF#;59#N5AR6#/:9/56-6F#37-2#100#37-#/:9/56-6#D-#812#;42A#42#43#
<:63#:034<13-0?#>-#A:-#35#N5AR6#/:9/56-6B#I:3#D713#19-#N5AR6#/:9/56-6K#$713#
46#65<-3742=#5;#1#<?63-9?B
S2-#D1?#5;#A-;0-8342=#A4685<;593#1>5:3#3713#<?63-9?#46#35#6D4387#37-#35/48#
604=730?B#M263-1A#5;#9-6/52A42=#35#37-#JD7?J#O:-63452#D437#1#J>-81:6-JT3?/-#
126D-9#U37-#6593#5;#126D-9#43#6--<6#35#A-<12AVF#/-5/0-#5;3-2#6:>6343:3-#1#
J75DJ#O:-63452#;59#37-#JD7?J#O:-63452F#12A#133-</3#35#126D-9#43#>?#3-0042=#1#
6359?#1>5:3#"./&3$&4#:'&$.&;'&3713#N5A#89-13-A#:6#12A#37-#9-63#5;#37-#:24@-96-F#
D4375:3#AD-0042=#5@-9<:87#52#W:63#D7?#N5A#<4=73#D123#35#71@-#A52-#3713B#
$7-#J75DJ#O:-63452#A5-6#253#=-3#6-/1913-#>40042=#52#,9463530-R6#0463F#>:3#43#D16#
1#/5/:019#O:-63452#12A#126D-9#052=#>-;59-#,9463530-#:2A-9355G#746#1210?646B#
$7-#126D-96#35#37-#>4==-63#J75DJ#O:-634526#19- #4.5:.2.)3'5% &63594-6#1>5:3#
75D#37-#4.5:.5%&37-#D750-#:24@-96-#12A#100#436#A-24X-26F#81<-#4235#-.463-28-B#
$7-#>55G#5;#N-2-646#46
!"#$%&!"'('%&!"')%&!"*+#),&-./0&&&&&&&!+
1 # 856<5=52?F # >:3 # 37-9- # 19- # <12? # 537-96B # H56<505=4636 # -./05942= # 37-#
7?/537-646#5;#37-#I4=#I12=F#12A#6/-8:01342=#1>5:3#>018G#750-6#12A#6:/-9T
63942=6F#19-#/9-6-23TA1?#89-13596 #5;#856<5=524-6B#Y53#100#1284-23#856<5=T
524-6#;5005D#37-#/133-92#5;#12#1934;183T<1G-9B#L5<-#42@50@-#1#JD590A#-==J#
014A#42#J37-#Z--/J#>?#52-#<?3748#>49A#59#12537-9F#12A#65<-#42@50@-#6--A6R#
>-42=#65D2#12A#3-2A-AB#):<12#4<1=4213452#716#520?#1#;-D#9-65:98-6#35#A91D#
:/52#D7-2#;18-A#D437#6:87#1#<42AT>5==042=#O:-63452B#S2-#-190?#89-13452#
<?37 # 6/-1G6 # 5; # 1 # J6-0;T-.463-23 # &59AJ # D75F # JD437 # 1 # 375:=73F # 89-13-A # 37-#
D13-96F#12A#A-/5643-A#42#37-<#1#6--A#D7487#>-81<-#1#=50A-2#-==F#42#D7487#
-==#7-#74<6-0;#46#>592#16#I917<1F#37-#/95=-24359#5;#37-#D590A6J#U':49#[\]!F#
@50B#M^F#/B#!_VB
,2A # D713R6 # 37- # /5423 # 5; # 100 # 3746 # -==T01?42= # 59 # 6--AT65D42= # 59 # D590AT
>:40A42=K # S9F # ;59 # 3713 # <133-9F # D713R6 # 37- # /5423 # 5; # 37- # I4= # I12=K # $5A1?R6#
856<505=4636F # 04G- # <12? # 5; # 37-49 # /9-A-8-66596 # 3795:=75:3 # 746359?F # 3-00 # 1#
A4@-9342=#6359?F#>:3#/9-;-9#35#64A-63-/#37-#JD7?J#O:-63452#5;#3-0-505=?B#Z5-6#
37-#:24@-96-#-.463#;59#12?#9-1652K#Z5#9-16526#/01?#12?#423-004=4>0-#950-#42#
-./012134526#5;#37-#856<56K#H5:0A#65<-3742=#-.463#;59#1#9-1652#D4375:3#436#
>-42=#5.:';.,*<5&9-1652K#S9#19-#9-16526`,9463530-R6#3?/-#U"V#81:6-6`#520?#
1//95/9413-#42#-./012134526#5;#37-#D59G6#12A#A--A6#5;#/-5/0-#59#537-9#91345210#
1=-236K#M;#N5A#46#253#1#/-9652F#1#91345210#1=-23F#12#M23-004=-23#,934;48-9F#D713#
/5664>0-#6-26-#85:0A#37-#>4==-63#JD7?J#O:-63452#<1G-K #,2A#4;#37- #>4==-63#
JD7?J # O:-63452 # A5-62R3 # <1G- # 12? # 6-26-F # 75D # 85:0A # 12? # 6<100-9F # <59-#
/19587410F#JD7?J#O:-634526#<1G-#6-26-K
S2-#5;#Z19D42R6#<563#;:2A1<-2310#852394>:34526#46#675D42=#:6#1#2-D#D1?#
35#<1G-#6-26-#5;#JD7?J#O:-634526B#&4G-#43#59#253F#Z19D42R6#4A-1#5;;-96#52-#
D1?`1#80-19F#85=-23F#1635246742=0?#@-961340-#D1?`5;#A46650@42=#37-6-#50A#
852:2A9:<6B#M3#31G-6#65<-#=-3342=#:6-A#35F#12A#46#5;3-2#<461//04-AF#-@-2#>?#
436#631:287-63#;94-2A6B#N91A:100?#-./5642=#12A#80194;?42=#3746#D1?#5;#3742G42=#
46#1#8-23910#/95W-83#5;#37-#/9-6-23#>55GB#Z19D42412#3742G42=#<:63#>-#819-;:00?#
A46342=:467-A#;95<#65<-#5@-964</04;4-A#12A#100T355T/5/:019#4</563596F#12A#
3746#D400#31G-#:6#4235#65<-#3-8724810434-6F#>:3#43#46#D5937#43B#$7-#/94X-#46F#;59#
37-#;4963#34<-F#1#631>0-#6?63-<#5;#-./01213452#3713#A5-6#253#=5#95:2A#12A#95:2A#
42#84980-6#59#6/4910#5;;#42#12#42;4243-#9-=9-66#5;#<?63-94-6B#L5<-#/-5/0-#D5:0A#
<:87#/9-;-9#37-#42;4243-#9-=9-66#5;#<?63-94-6F#1//19-230?F#>:3#42#3746#A1?#12A#
1=-#37-#8563#46#/9574>434@-E#?5:#71@-#35#=-3#?5:96-0;#A-8-4@-AB#*5:#812#-437-9#
A-8-4@-#?5:96-0;#59#0-3#537-96#A5#37-#A493?#D59GF#>:3#37-9-#46#25#423-00-83:100?#
A-;-264>0- # D1? # 5; # 9->:40A42= # 37- # <4=73? # >1994-96 # 35 # 85</9-7-26452 # 3713#
Z19D42#6<167-AB
$7-#;4963#63-/#35#1//9-841342=#3746#16/-83#5;#Z19D42R6#852394>:3452#46#35#6--#
75D#37-#D590A#055G-A#>-;59-#7-#42@-93-A#43B#I?#055G42=#3795:=7#37-#-?-6#5;#
3D5#5;#746#85:239?<-2F#Q572#&58G-#12A#Z1@4A#):<-F#D-#812#=-3#1#80-19#
@46452#5;#12#103-92134@-#D590AT@4-D`63400#@-9?#<:87#D437#:6#42#<12?#O:19T
3-96`3713#Z19D42#9-2A-9-A#5>650-3-B
!"#######$%&&#'%#()*
,#$'1'.1.234#1&-./01213452#46#52-#3713#-./01426#37-#-.463-28-#59#588:99-28-#
5;#65<-3742=#>?#84342=#1#=510#59#/:9/56-#3713#46#6-9@-A#>?#37-#3742=B#,934;1836#
19-#37-#<563#5>@45:6#816-6C#37-#=510#59#/:9/56-#5;#12#1934;183#46#37-#;:283452#43#
D16#A-64=2-A#35#6-9@-#>?#436#89-1359B#$7-9-#46#25#852395@-96?#1>5:3#37-#$'1.5&
5;#1#71<<-9E#43#46#;59#71<<-942=#42#12A#/:0042=#5:3#21406B#$7-#$'1.5&5;#<59-#
85</04813-A#1934;1836F#6:87#16#81<859A-96#59#35D#39:8G6#59#H$#68122-96F#46#4;#
12?3742=#<59-#5>@45:6B#I:3#-@-2#42#64</0-#816-6F#1#/95>0-<#812#>-#6--2#35#
055<#42#37-#>18G=95:2AE
J(7?#19-#?5:#61D42=#3713#>519AKJ#
J$5#<1G-#1#A559BJ
J,2A#D713#46#37-#A559#;59KJ#
J$5#6-8:9-#<?#75:6-BJ
J,2A#D7?#A5#?5:#D123#1#6-8:9-#75:6-KJ#
JL5#M#812#60--/#24=736BJ
J,2A#D7?#A5#?5:#D123#35#60--/#24=736KJ#JN5#9:2#
1052=#12A#635/#16G42=#6:87#6400?#O:-634526BJ
$746#-.8712=-#9-@-106#52-#5;#37-#395:>0-6#D437#3-0-505=?E#D7-9-#A5-6#43#100#
635/K#(713#63)#1&;4210#81:6-#812#>-#843-A#35#>942=#3746#74-91987?#5;#9-16526#35#1#
8056-K#,9463530-#71A#12#126D-9E#N5AF#37-#P94<-#'5@-9F#37-#6.(7/"34"&35#-2A#
100# 6.(7/"34"'58 &$7-#4A-1F#D7487#46#31G-2#:/#>?#37-#H79463412F#Q-D467F#12A#
M601<48#391A434526F#46#3713#100#.9(&/:9/56-6#19-#:034<13-0?#N5AR6#/:9/56-6B#$7-#
4A-1# 46# 8-931420?#213:910 #12A #13391834@-B #M; #D- #055G#13 #1 #/58G-3#D1387 # 12A#
D52A-9#/"*&43#716#1#80-19#=0166#89?6310#52#436#;18-F#37-#126D-9#5>@45:60?#719G6#
>18G#35#37-#2--A6#12A#A-649-6#5;#37-#:6-96#5;#D1387-6F#D75#D123#35#3-00#34<-F#
>?# 055G42=# 13 # 37- # 712A6 # 3795:=7 # 37- # 39126/19-23F # /953-834@- # =0166F# 12A # 65#
;5937B#M;#43#D-9-2R3#;59#37-6-#;1836#1>5:3#95%&;59#D75<#37-#D1387#D16#89-13-AF#
37-9-#D5:0A#>-#25#-./01213452#5;#37-#JD7?J#5;#436#89?6310B#M;#37-#:24@-96-#D16#
89-13-A#>?#N5AF#;59#N5AR6#/:9/56-6F#37-2#100#37-#/:9/56-6#D-#812#;42A#42#43#
<:63#:034<13-0?#>-#A:-#35#N5AR6#/:9/56-6B#I:3#D713#19-#N5AR6#/:9/56-6K#$713#
46#65<-3742=#5;#1#<?63-9?B
S2-#D1?#5;#A-;0-8342=#A4685<;593#1>5:3#3713#<?63-9?#46#35#6D4387#37-#35/48#
604=730?B#M263-1A#5;#9-6/52A42=#35#37-#JD7?J#O:-63452#D437#1#J>-81:6-JT3?/-#
126D-9#U37-#6593#5;#126D-9#43#6--<6#35#A-<12AVF#/-5/0-#5;3-2#6:>6343:3-#1#
J75DJ#O:-63452#;59#37-#JD7?J#O:-63452F#12A#133-</3#35#126D-9#43#>?#3-0042=#1#
6359?#1>5:3#"./&3$&4#:'&$.&;'&3713#N5A#89-13-A#:6#12A#37-#9-63#5;#37-#:24@-96-F#
D4375:3#AD-0042=#5@-9<:87#52#W:63#D7?#N5A#<4=73#D123#35#71@-#A52-#3713B#
$7-#J75DJ#O:-63452#A5-6#253#=-3#6-/1913-#>40042=#52#,9463530-R6#0463F#>:3#43#D16#
1#/5/:019#O:-63452#12A#126D-9#052=#>-;59-#,9463530-#:2A-9355G#746#1210?646B#
$7-#126D-96#35#37-#>4==-63#J75DJ#O:-634526#19- #4.5:.2.)3'5% &63594-6#1>5:3#
75D#37-#4.5:.5%&37-#D750-#:24@-96-#12A#100#436#A-24X-26F#81<-#4235#-.463-28-B#
$7-#>55G#5;#N-2-646#46
!"#$%&!"'('%&!"')%&!"*+#),&-./0&&&&&&&!+
1 # 856<5=52?F # >:3 # 37-9- # 19- # <12? # 537-96B # H56<505=4636 # -./05942= # 37-#
7?/537-646#5;#37-#I4=#I12=F#12A#6/-8:01342=#1>5:3#>018G#750-6#12A#6:/-9T
63942=6F#19-#/9-6-23TA1?#89-13596 #5;#856<5=524-6B#Y53#100#1284-23#856<5=T
524-6#;5005D#37-#/133-92#5;#12#1934;183T<1G-9B#L5<-#42@50@-#1#JD590A#-==J#
014A#42#J37-#Z--/J#>?#52-#<?3748#>49A#59#12537-9F#12A#65<-#42@50@-#6--A6R#
>-42=#65D2#12A#3-2A-AB#):<12#4<1=4213452#716#520?#1#;-D#9-65:98-6#35#A91D#
:/52#D7-2#;18-A#D437#6:87#1#<42AT>5==042=#O:-63452B#S2-#-190?#89-13452#
<?37 # 6/-1G6 # 5; # 1 # J6-0;T-.463-23 # &59AJ # D75F # JD437 # 1 # 375:=73F # 89-13-A # 37-#
D13-96F#12A#A-/5643-A#42#37-<#1#6--A#D7487#>-81<-#1#=50A-2#-==F#42#D7487#
-==#7-#74<6-0;#46#>592#16#I917<1F#37-#/95=-24359#5;#37-#D590A6J#U':49#[\]!F#
@50B#M^F#/B#!_VB
,2A # D713R6 # 37- # /5423 # 5; # 100 # 3746 # -==T01?42= # 59 # 6--AT65D42= # 59 # D590AT
>:40A42=K # S9F # ;59 # 3713 # <133-9F # D713R6 # 37- # /5423 # 5; # 37- # I4= # I12=K # $5A1?R6#
856<505=4636F # 04G- # <12? # 5; # 37-49 # /9-A-8-66596 # 3795:=75:3 # 746359?F # 3-00 # 1#
A4@-9342=#6359?F#>:3#/9-;-9#35#64A-63-/#37-#JD7?J#O:-63452#5;#3-0-505=?B#Z5-6#
37-#:24@-96-#-.463#;59#12?#9-1652K#Z5#9-16526#/01?#12?#423-004=4>0-#950-#42#
-./012134526#5;#37-#856<56K#H5:0A#65<-3742=#-.463#;59#1#9-1652#D4375:3#436#
>-42=#5.:';.,*<5&9-1652K#S9#19-#9-16526`,9463530-R6#3?/-#U"V#81:6-6`#520?#
1//95/9413-#42#-./012134526#5;#37-#D59G6#12A#A--A6#5;#/-5/0-#59#537-9#91345210#
1=-236K#M;#N5A#46#253#1#/-9652F#1#91345210#1=-23F#12#M23-004=-23#,934;48-9F#D713#
/5664>0-#6-26-#85:0A#37-#>4==-63#JD7?J#O:-63452#<1G-K #,2A#4;#37- #>4==-63#
JD7?J # O:-63452 # A5-62R3 # <1G- # 12? # 6-26-F # 75D # 85:0A # 12? # 6<100-9F # <59-#
/19587410F#JD7?J#O:-634526#<1G-#6-26-K
S2-#5;#Z19D42R6#<563#;:2A1<-2310#852394>:34526#46#675D42=#:6#1#2-D#D1?#
35#<1G-#6-26-#5;#JD7?J#O:-634526B#&4G-#43#59#253F#Z19D42R6#4A-1#5;;-96#52-#
D1?`1#80-19F#85=-23F#1635246742=0?#@-961340-#D1?`5;#A46650@42=#37-6-#50A#
852:2A9:<6B#M3#31G-6#65<-#=-3342=#:6-A#35F#12A#46#5;3-2#<461//04-AF#-@-2#>?#
436#631:287-63#;94-2A6B#N91A:100?#-./5642=#12A#80194;?42=#3746#D1?#5;#3742G42=#
46#1#8-23910#/95W-83#5;#37-#/9-6-23#>55GB#Z19D42412#3742G42=#<:63#>-#819-;:00?#
A46342=:467-A#;95<#65<-#5@-964</04;4-A#12A#100T355T/5/:019#4</563596F#12A#
3746#D400#31G-#:6#4235#65<-#3-8724810434-6F#>:3#43#46#D5937#43B#$7-#/94X-#46F#;59#
37-#;4963#34<-F#1#631>0-#6?63-<#5;#-./01213452#3713#A5-6#253#=5#95:2A#12A#95:2A#
42#84980-6#59#6/4910#5;;#42#12#42;4243-#9-=9-66#5;#<?63-94-6B#L5<-#/-5/0-#D5:0A#
<:87#/9-;-9#37-#42;4243-#9-=9-66#5;#<?63-94-6F#1//19-230?F#>:3#42#3746#A1?#12A#
1=-#37-#8563#46#/9574>434@-E#?5:#71@-#35#=-3#?5:96-0;#A-8-4@-AB#*5:#812#-437-9#
A-8-4@-#?5:96-0;#59#0-3#537-96#A5#37-#A493?#D59GF#>:3#37-9-#46#25#423-00-83:100?#
A-;-264>0- # D1? # 5; # 9->:40A42= # 37- # <4=73? # >1994-96 # 35 # 85</9-7-26452 # 3713#
Z19D42#6<167-AB
$7-#;4963#63-/#35#1//9-841342=#3746#16/-83#5;#Z19D42R6#852394>:3452#46#35#6--#
75D#37-#D590A#055G-A#>-;59-#7-#42@-93-A#43B#I?#055G42=#3795:=7#37-#-?-6#5;#
3D5#5;#746#85:239?<-2F#Q572#&58G-#12A#Z1@4A#):<-F#D-#812#=-3#1#80-19#
@46452#5;#12#103-92134@-#D590AT@4-D`63400#@-9?#<:87#D437#:6#42#<12?#O:19T
3-96`3713#Z19D42#9-2A-9-A#5>650-3-B
!"#######$%&&#'%#()*
+,#&-./%01#234--52#-5#$)%#346'7.*#-5#'689
!"#$%&"'()%*$+)$,)-%'".."$%/)$/)0%1$-%"$23%4$52*/#.)$%#1+)%#1-%*, %
)+)6%/*$')7
:;%4$4789#4&011%<,!
=>?@#&>ABCD#E#A>@FCGH>IEIJ#>K#2F?C#L@A>GHEIEMNC#'I,#8COF>@D2#OEP#>@C#
>K#F?C#K>Q@RL@S#KEF?CIP#>K#;ILFLP?#%GHLILALPGD#E@RD#EP#MCKLFP#E@#%GHLILALPFD#?C#
OEP#@>F#GQA?#SLTC@#F>#RCRQAFLTC#EISQGC@FP#>K#F?C#IEFL>@ENLPF#P>IFD#MQF#>@C#>K#
?LP#Q@A?EIEAFCILPFLA#K>IEJP#L@F>#2HI>>K#RCPCITCP#F>#MC#UQ>FCR#L@#KQNND#PL@AC#LF#
HCIKCAFNJ#LNNQPFIEFCP#F?C#MN>ABERC#F>#LGESL@EFL>@#F?EF#OEP#L@#HNEAC#MCK>IC#F?C#
9EIOL@LE@#4CT>NQFL>@,#$?C#EISQGC@F#GEJ#PCCG#PFIE@SC#E@R#PFLNFCR#F>#G>RCI@#
GL@RPD#MQF#MCEI#OLF?#LF:A>@PLRCI#LF#E#PLS@#>K#?>O#KEI#OC#?ETC#A>GC#PL@AC#
F?C@,#&>ABC#?LGPCNK#F?>QS?F#F?EF#?C#OEP#VQPF#ICGL@RL@S#HC>HNC#>K#P>GCF?L@S#
>MTL>QPW#6@#F?LP#HEPPESC#KI>G#?LP#4//13%8"$')6$*$5%9:.1$%;$-)6/,1$-*$5 %
XY"Z[D#6\D#]D#Y[^D#&>ABC#OE@FCR#F>#<6"+)%P>GCF?L@S#F?EF#?C#F?>QS?F#ENN#HC>HNC#
B@CO#L@#F?CLI#?CEIFP#L@#E@J#AEPC_#F?EF#2L@#F?C#MCSL@@L@S2#F?CIC#OEP#'L@R,#)C#
MCSE@#MJ#EPBL@S#?LGPCNK#O?EFD#LK#E@JF?L@SD#OEP#CFCI@EN_
6KD#F?C@D#F?CIC#GQPF#MC#P>GCF?L@S#CFCI@END#NCF#QP#PCC#O?EF#P>IF#>K#;CL@S#LF#
GQPF#MC,#7@R#F>#F?EF#LF#LP#TCIJ#>MTL>QP#F>#4CEP>@D#F?EF#LF#GQPF#@CACPPEILNJ#
MC#E#A>SLFEFLTC#;CL@S,#5>I#LF#LP#EP#LGH>PPLMNC#F>#A>@ACLTC#F?EF#CTCI#MEIC#
L@A>SLFEFLTC#'EFFCI#P?>QNR#HI>RQAC#E#F?L@BL@S#L@FCNNLSC@F#;CL@SD#EP#F?EF#
@>F?L@S#P?>QNR#>K#LFPCNK#HI>RQAC#'EFFCI,,,,
&>ABC#MCSL@P#?LP#HI>>K#MJ#ENNQRL@S#F>#>@C#>K#H?LN>P>H?J0P#G>PF#E@ALC@F#
E@R#>KF`QPCR#GE]LGPD #4=%$*#*2"%$*#*2%>*,? %@>F?L@S#AE@#A>GC#KI>G#@>F?L@S,#
1L@AC#F?LP#LP#F>#MC#E#RCRQAFLTC#EISQGC@FD#?C#GQPF#PCF#?LP#PLS?FP#?LS?_#LF#LP#@>F#
VQPF#Q@NLBCNJ#>I#LGHNEQPLMNC#>I#?EIR#F>#KEF?>G#MQF#*.<"//*@2)%,"%'"$')*+)%F?EF#
2MEIC#L@A>SLFEFLTC#'EFFCI#P?>QNR#HI>RQAC#E#F?L@BL@S#L@FCNNLSC@F#;CL@S,2#$?C#
EISQGC@F#HI>ACCRP#MJ#E#PCILCP#>K#G>Q@FL@S#PFCHP`,
!,#aLNMCIF#4JNC#ICA>Q@FCR#F?LP#FJHLAEN#MLF#>K#4QPPCNNLE@#?JHCIM>NC#F>#GC,#6@#PHLFC#>K#4JNC0P#
>O@#RLPFL@SQLP?CR#AEICCI#EP#(EJ@KNCFC#3I>KCPP>I#>K#3?LN>P>H?J#EF#-]K>IRD#?C#E@R#4QPPCNN#
?ER#PCNR>G#GCFD#?C#F>NR#GCD#L@#NEISC#GCEPQIC#MCAEQPC#4QPPCNN#PFCCICR#ANCEI#>K#EAERCGLA#
H?LN>P>H?J#EKFCI#F?C#1CA>@R#(>INR#(EI,#-@ACD#?>OCTCID#4JNC#K>Q@R#?LGPCNK#P?EIL@S#E#
A>GHEIFGC@F#OLF?#4QPPCNN#>@#E#FCRL>QP#FIEL@#V>QI@CJD#E@RD#FIJL@S#RCPHCIEFCNJ#F>#GEBC#
A>@TCIPEFL>@#OLF?#?LP#O>INR`KEG>QP#KCNN>O#FIETCNCID#4JNC#EPBCR#?LG#O?J#?C#F?>QS?F#
&>ABCD#O?>#OEP#@CLF?CI#EP#>ILSL@EN#@>I#EP#S>>R#E#OILFCI#EP#;CIBCNCJD#)QGCD#>I#4CLRD#?ER#
MCC@#P>#GQA?#G>IC#L@KNQC@FLEN#F?E@#F?CJ#L@#F?C#%@SNLP?`PHCEBL@S#H?LN>P>H?LAEN#O>INR,#
$?LP#?ER#MCC@#?LP#ICHNJD#E@R#F?C#MCSL@@L@S#>K#F?C#>@NJ#S>>R#A>@TCIPEFL>@D#4JNC#PELRD#F?EF#
?C#CTCI#?ER#OLF?#4QPPCNN,
&"'()A/%BC6"">%">%,#)%C6*.1'3%">%D*$-%%%%%%!b
&CF#QP#PQHH>PC#E@J#HEIACN#>K#'EFFCI#CFCI@END#SICEF#>I#PGENND#OC#P?ENN#KL@R#LFD
L@#LFPCNKD#EMNC#F>#HI>RQAC#@>F?L@Scccc'EFFCI#F?C@D#MJ#LFP#>O@#PFIC@SF?D
AE@@>F#HI>RQAC#L@#LFPCNK#P>#GQA?#EP#'>FL>@_#F?C#'>FL>@#LF#?EPD#GQPF#ENP>#MC#
KI>G#%FCI@LFJD#>I#CNPC#MC#HI>RQACRD#E@R#ERRCR#F>#'EFFCI#MJ#P>GC#>F?CI
;CL@S#G>IC#H>OCIKQN#F?E@#'EFFCIcccc;QF#NCF#QP#PQHH>PC#'>FL>@#CFCI@EN
F>>_#JCF#'EFFCID#L@A>SLFEFLTC#'EFFCI#E@R#'>FL>@D#O?EFCTCI#A?E@SCP#LF#GLS?F#
HI>RQAC#>K#5LSQIC#E@R#;QNBD#A>QNR#@CTCI#HI>RQAC#$?>QS?F_#/@>ONCRSC#
OLNN#PFLNN#MC#EP#KEI#MCJ>@R#F?C#H>OCI#>K#'>FL>@#E@R#'EFFCI#F>#HI>RQACD#EP#
'EFFCI#LP#MCJ>@R#F?C#H>OCI#>K#@>F?L@S#>I#@>@C@FLFJ#F>#HI>RQAC,#7@R#6#
EHHCEN#F>#CTCIJ>@C0P#>O@#F?>QS?FPD#O?CF?CI#?C#AE@@>F#EP#CEPLNJ#A>@ACLTC#
'EFFCI#HI>RQACR#MJ#@>F?L@SD#EP#$?>QS?F#HI>RQACR#MJ#HQIC#'EFFCID#O?C@#
MCK>IC#F?CIC#OEP#@>#PQA?#F?L@S#EP#$?>QS?FD#>I#E@#L@FCNNLSC@F#;CL@S#C]LPF`
L@S,#,,,
6F # LP # L@FCICPFL@S # F> # @>FC # F?EF # &>ABC # RCALRCP # ?C # GEJ # PEKCNJ # 2EHHCEN # F>#
CTCIJ>@C0P#>O@#F?>QS?FP2#F>#PCAQIC#F?LP#2A>@ANQPL>@,2#)C#OEP#PQIC#F?EF ##*/%
2A>GG>@#PC@PC2#OEP#FIQNJ #'".."$ %PC@PC,#9>@0F#OC#PCC#?>O#>MTL>QP#LF#LP#
F?EF#O?CICEP#GEFFCI#E@R#G>FL>@#A>QNR#HI>RQAC#A?E@SCP#>K#25LSQIC#E@R#;QNBD2#
F?CJ#A>QNR#$)+)6%HI>RQAC#2$?>QS?F2d#(>QNR@0F#F?LP#IQNC#>QF#F?C#HI>PHCAF#>K#
I>M>FP:>I#EF#NCEPF#I>M>FP#F?EF#O>QNR#ANELG#F>#?ETC#SC@QL@C#$?>QS?FP#EG>@S#
F?C#G>FL>@P#L@#F?CLI#GEFCILEN#?CERPd#.CIFEL@NJ#L@#&>ABC0P #REJ:O?LA?#OEP#
ENP>#9CPAEIFCP0P#REJ:F?C#TCIJ#LRCE#>K#7IFLKLALEN#6@FCNNLSC@AC#OEP#P>#AN>PC#F>#
Q@F?L@BEMNC#F?EF#&>ABC#A>QNR#A>@KLRC@FNJ#C]HCAF#Q@E@LG>QP#C@R>IPCGC@F#>K#
F?LP#EHHCEN#F>#?LP#EQRLC@ACD#E@#EHHCEN#F?EF#O>QNR#ILPB#?>>FP#>K#RCILPL>@#F>REJ,+#
7@R # EP # OC # P?ENN # PCCD # F?C # KLCNR # >K #7IFLKLALEN # 6@FCNNLSC@AC # LP # E # UQLFC # RLICAF#
RCPAC@RE@F # >K # 9EIOL@0P # LRCE, # 6FP # MLIF?D # O?LA? # OEP # ENN # MQF # HI>H?CPLCR # MJ#
9EIOL@ # ?LGPCNKD # OEP # EFFC@RCR # MJ # >@C # >K # F?C # KLIPF # FIQNJ # LGHICPPLTC#
RCG>@PFIEFL>@P # >K # F?C # K>IGEN # H>OCI # >K # @EFQIEN # PCNCAFL>@ # X7IF # 1EGQCN0P#
NCSC@REIJ#A?CABCIP`HNEJL@S#HI>SIEGD#O?LA?#OLNN#MC#RCPAILMCR#L@#P>GC#RCFELN#
NEFCI^,#7@R#M>F?#CT>NQFL>@#E@R#76#L@PHLIC#F?C#PEGC#N>EF?L@S#L@#GE@J#HC>HNC#
O?>#P?>QNR#B@>O#MCFFCID#EP#OC#P?ENN#PCC#L@#NEFCI#A?EHFCIP,#;QF#MEAB#F>#&>ABC0P#
A>@ANQPL>@_
1>#LK#OC#OLNN#PQHH>PC#@>F?L@S#KLIPFD#>I#CFCI@EN_#'EFFCI#AE@#@CTCI#MCSL@#F>#MC_#
6K#OC#PQHH>PC#MEIC#'EFFCID#OLF?>QF#'>FL>@D#CFCI@EN_#'>FL>@#AE@#@CTCI#
MCSL@#F>#MC_#6K#OC#PQHH>PC#>@NJ#'EFFCI#E@R#'>FL>@#KLIPFD#>I#CFCI@EN_#$?>QS?F#
AE@#@CTCI#MCSL@#F>#MC,#5>I#LF#LP#LGH>PPLMNC#F>#A>@ACLTC#F?EF#'EFFCI#CLF?CI#
OLF?#>I#OLF?>QF#'>FL>@#A>QNR#?ETC#>ILSL@ENNJ#L@#E@R#KI>G#LFPCNK#1C@PCD
+,#9CPAEIFCP0P#L@EMLNLFJ#F>#F?L@B#>K#$?>QS?F#EP#'EFFCI#L@#'>FL>@#LP#RLPAQPPCR#EF#NC@SF?#L@#
GJ#M>>B#8"$/'*":/$)//%4=<21*$)-%XYZZYE^,#=>?@#)EQSCNE@R0P#EHFNJ#FLFNCR#M>>BD#E6,*>*'*12%
F$,)22*5)$')G%H#)%I)63%F-)1%X#YZef#^D#LP#E#KL@C#L@FI>RQAFL>@#F>#F?C#H?LN>P>H?LAEN#HEF?P#F?EF#
GEBC#F?LP#LRCE#F?L@BEMNC#EKFCI#ENN,
!"#######$%&&#'%#()*
+,#&-./%01#234--52#-5#$)%#346'7.*#-5#'689
!"#$%&"'()%*$+)$,)-%'".."$%/)$/)0%1$-%"$23%4$52*/#.)$%#1+)%#1-%*, %
)+)6%/*$')7
:;%4$4789#4&011%<,!
=>?@#&>ABCD#E#A>@FCGH>IEIJ#>K#2F?C#L@A>GHEIEMNC#'I,#8COF>@D2#OEP#>@C#
>K#F?C#K>Q@RL@S#KEF?CIP#>K#;ILFLP?#%GHLILALPGD#E@RD#EP#MCKLFP#E@#%GHLILALPFD#?C#
OEP#@>F#GQA?#SLTC@#F>#RCRQAFLTC#EISQGC@FP#>K#F?C#IEFL>@ENLPF#P>IFD#MQF#>@C#>K#
?LP#Q@A?EIEAFCILPFLA#K>IEJP#L@F>#2HI>>K#RCPCITCP#F>#MC#UQ>FCR#L@#KQNND#PL@AC#LF#
HCIKCAFNJ#LNNQPFIEFCP#F?C#MN>ABERC#F>#LGESL@EFL>@#F?EF#OEP#L@#HNEAC#MCK>IC#F?C#
9EIOL@LE@#4CT>NQFL>@,#$?C#EISQGC@F#GEJ#PCCG#PFIE@SC#E@R#PFLNFCR#F>#G>RCI@#
GL@RPD#MQF#MCEI#OLF?#LF:A>@PLRCI#LF#E#PLS@#>K#?>O#KEI#OC#?ETC#A>GC#PL@AC#
F?C@,#&>ABC#?LGPCNK#F?>QS?F#F?EF#?C#OEP#VQPF#ICGL@RL@S#HC>HNC#>K#P>GCF?L@S#
>MTL>QPW#6@#F?LP#HEPPESC#KI>G#?LP#4//13%8"$')6$*$5%9:.1$%;$-)6/,1$-*$5 %
XY"Z[D#6\D#]D#Y[^D#&>ABC#OE@FCR#F>#<6"+)%P>GCF?L@S#F?EF#?C#F?>QS?F#ENN#HC>HNC#
B@CO#L@#F?CLI#?CEIFP#L@#E@J#AEPC_#F?EF#2L@#F?C#MCSL@@L@S2#F?CIC#OEP#'L@R,#)C#
MCSE@#MJ#EPBL@S#?LGPCNK#O?EFD#LK#E@JF?L@SD#OEP#CFCI@EN_
6KD#F?C@D#F?CIC#GQPF#MC#P>GCF?L@S#CFCI@END#NCF#QP#PCC#O?EF#P>IF#>K#;CL@S#LF#
GQPF#MC,#7@R#F>#F?EF#LF#LP#TCIJ#>MTL>QP#F>#4CEP>@D#F?EF#LF#GQPF#@CACPPEILNJ#
MC#E#A>SLFEFLTC#;CL@S,#5>I#LF#LP#EP#LGH>PPLMNC#F>#A>@ACLTC#F?EF#CTCI#MEIC#
L@A>SLFEFLTC#'EFFCI#P?>QNR#HI>RQAC#E#F?L@BL@S#L@FCNNLSC@F#;CL@SD#EP#F?EF#
@>F?L@S#P?>QNR#>K#LFPCNK#HI>RQAC#'EFFCI,,,,
&>ABC#MCSL@P#?LP#HI>>K#MJ#ENNQRL@S#F>#>@C#>K#H?LN>P>H?J0P#G>PF#E@ALC@F#
E@R#>KF`QPCR#GE]LGPD #4=%$*#*2"%$*#*2%>*,? %@>F?L@S#AE@#A>GC#KI>G#@>F?L@S,#
1L@AC#F?LP#LP#F>#MC#E#RCRQAFLTC#EISQGC@FD#?C#GQPF#PCF#?LP#PLS?FP#?LS?_#LF#LP#@>F#
VQPF#Q@NLBCNJ#>I#LGHNEQPLMNC#>I#?EIR#F>#KEF?>G#MQF#*.<"//*@2)%,"%'"$')*+)%F?EF#
2MEIC#L@A>SLFEFLTC#'EFFCI#P?>QNR#HI>RQAC#E#F?L@BL@S#L@FCNNLSC@F#;CL@S,2#$?C#
EISQGC@F#HI>ACCRP#MJ#E#PCILCP#>K#G>Q@FL@S#PFCHP`,
!,#aLNMCIF#4JNC#ICA>Q@FCR#F?LP#FJHLAEN#MLF#>K#4QPPCNNLE@#?JHCIM>NC#F>#GC,#6@#PHLFC#>K#4JNC0P#
>O@#RLPFL@SQLP?CR#AEICCI#EP#(EJ@KNCFC#3I>KCPP>I#>K#3?LN>P>H?J#EF#-]K>IRD#?C#E@R#4QPPCNN#
?ER#PCNR>G#GCFD#?C#F>NR#GCD#L@#NEISC#GCEPQIC#MCAEQPC#4QPPCNN#PFCCICR#ANCEI#>K#EAERCGLA#
H?LN>P>H?J#EKFCI#F?C#1CA>@R#(>INR#(EI,#-@ACD#?>OCTCID#4JNC#K>Q@R#?LGPCNK#P?EIL@S#E#
A>GHEIFGC@F#OLF?#4QPPCNN#>@#E#FCRL>QP#FIEL@#V>QI@CJD#E@RD#FIJL@S#RCPHCIEFCNJ#F>#GEBC#
A>@TCIPEFL>@#OLF?#?LP#O>INR`KEG>QP#KCNN>O#FIETCNCID#4JNC#EPBCR#?LG#O?J#?C#F?>QS?F#
&>ABCD#O?>#OEP#@CLF?CI#EP#>ILSL@EN#@>I#EP#S>>R#E#OILFCI#EP#;CIBCNCJD#)QGCD#>I#4CLRD#?ER#
MCC@#P>#GQA?#G>IC#L@KNQC@FLEN#F?E@#F?CJ#L@#F?C#%@SNLP?`PHCEBL@S#H?LN>P>H?LAEN#O>INR,#
$?LP#?ER#MCC@#?LP#ICHNJD#E@R#F?C#MCSL@@L@S#>K#F?C#>@NJ#S>>R#A>@TCIPEFL>@D#4JNC#PELRD#F?EF#
?C#CTCI#?ER#OLF?#4QPPCNN,
&"'()A/%BC6"">%">%,#)%C6*.1'3%">%D*$-%%%%%%!b
&CF#QP#PQHH>PC#E@J#HEIACN#>K#'EFFCI#CFCI@END#SICEF#>I#PGENND#OC#P?ENN#KL@R#LFD
L@#LFPCNKD#EMNC#F>#HI>RQAC#@>F?L@Scccc'EFFCI#F?C@D#MJ#LFP#>O@#PFIC@SF?D
AE@@>F#HI>RQAC#L@#LFPCNK#P>#GQA?#EP#'>FL>@_#F?C#'>FL>@#LF#?EPD#GQPF#ENP>#MC#
KI>G#%FCI@LFJD#>I#CNPC#MC#HI>RQACRD#E@R#ERRCR#F>#'EFFCI#MJ#P>GC#>F?CI
;CL@S#G>IC#H>OCIKQN#F?E@#'EFFCIcccc;QF#NCF#QP#PQHH>PC#'>FL>@#CFCI@EN
F>>_#JCF#'EFFCID#L@A>SLFEFLTC#'EFFCI#E@R#'>FL>@D#O?EFCTCI#A?E@SCP#LF#GLS?F#
HI>RQAC#>K#5LSQIC#E@R#;QNBD#A>QNR#@CTCI#HI>RQAC#$?>QS?F_#/@>ONCRSC#
OLNN#PFLNN#MC#EP#KEI#MCJ>@R#F?C#H>OCI#>K#'>FL>@#E@R#'EFFCI#F>#HI>RQACD#EP#
'EFFCI#LP#MCJ>@R#F?C#H>OCI#>K#@>F?L@S#>I#@>@C@FLFJ#F>#HI>RQAC,#7@R#6#
EHHCEN#F>#CTCIJ>@C0P#>O@#F?>QS?FPD#O?CF?CI#?C#AE@@>F#EP#CEPLNJ#A>@ACLTC#
'EFFCI#HI>RQACR#MJ#@>F?L@SD#EP#$?>QS?F#HI>RQACR#MJ#HQIC#'EFFCID#O?C@#
MCK>IC#F?CIC#OEP#@>#PQA?#F?L@S#EP#$?>QS?FD#>I#E@#L@FCNNLSC@F#;CL@S#C]LPF`
L@S,#,,,
6F # LP # L@FCICPFL@S # F> # @>FC # F?EF # &>ABC # RCALRCP # ?C # GEJ # PEKCNJ # 2EHHCEN # F>#
CTCIJ>@C0P#>O@#F?>QS?FP2#F>#PCAQIC#F?LP#2A>@ANQPL>@,2#)C#OEP#PQIC#F?EF ##*/%
2A>GG>@#PC@PC2#OEP#FIQNJ #'".."$ %PC@PC,#9>@0F#OC#PCC#?>O#>MTL>QP#LF#LP#
F?EF#O?CICEP#GEFFCI#E@R#G>FL>@#A>QNR#HI>RQAC#A?E@SCP#>K#25LSQIC#E@R#;QNBD2#
F?CJ#A>QNR#$)+)6%HI>RQAC#2$?>QS?F2d#(>QNR@0F#F?LP#IQNC#>QF#F?C#HI>PHCAF#>K#
I>M>FP:>I#EF#NCEPF#I>M>FP#F?EF#O>QNR#ANELG#F>#?ETC#SC@QL@C#$?>QS?FP#EG>@S#
F?C#G>FL>@P#L@#F?CLI#GEFCILEN#?CERPd#.CIFEL@NJ#L@#&>ABC0P #REJ:O?LA?#OEP#
ENP>#9CPAEIFCP0P#REJ:F?C#TCIJ#LRCE#>K#7IFLKLALEN#6@FCNNLSC@AC#OEP#P>#AN>PC#F>#
Q@F?L@BEMNC#F?EF#&>ABC#A>QNR#A>@KLRC@FNJ#C]HCAF#Q@E@LG>QP#C@R>IPCGC@F#>K#
F?LP#EHHCEN#F>#?LP#EQRLC@ACD#E@#EHHCEN#F?EF#O>QNR#ILPB#?>>FP#>K#RCILPL>@#F>REJ,+#
7@R # EP # OC # P?ENN # PCCD # F?C # KLCNR # >K #7IFLKLALEN # 6@FCNNLSC@AC # LP # E # UQLFC # RLICAF#
RCPAC@RE@F # >K # 9EIOL@0P # LRCE, # 6FP # MLIF?D # O?LA? # OEP # ENN # MQF # HI>H?CPLCR # MJ#
9EIOL@ # ?LGPCNKD # OEP # EFFC@RCR # MJ # >@C # >K # F?C # KLIPF # FIQNJ # LGHICPPLTC#
RCG>@PFIEFL>@P # >K # F?C # K>IGEN # H>OCI # >K # @EFQIEN # PCNCAFL>@ # X7IF # 1EGQCN0P#
NCSC@REIJ#A?CABCIP`HNEJL@S#HI>SIEGD#O?LA?#OLNN#MC#RCPAILMCR#L@#P>GC#RCFELN#
NEFCI^,#7@R#M>F?#CT>NQFL>@#E@R#76#L@PHLIC#F?C#PEGC#N>EF?L@S#L@#GE@J#HC>HNC#
O?>#P?>QNR#B@>O#MCFFCID#EP#OC#P?ENN#PCC#L@#NEFCI#A?EHFCIP,#;QF#MEAB#F>#&>ABC0P#
A>@ANQPL>@_
1>#LK#OC#OLNN#PQHH>PC#@>F?L@S#KLIPFD#>I#CFCI@EN_#'EFFCI#AE@#@CTCI#MCSL@#F>#MC_#
6K#OC#PQHH>PC#MEIC#'EFFCID#OLF?>QF#'>FL>@D#CFCI@EN_#'>FL>@#AE@#@CTCI#
MCSL@#F>#MC_#6K#OC#PQHH>PC#>@NJ#'EFFCI#E@R#'>FL>@#KLIPFD#>I#CFCI@EN_#$?>QS?F#
AE@#@CTCI#MCSL@#F>#MC,#5>I#LF#LP#LGH>PPLMNC#F>#A>@ACLTC#F?EF#'EFFCI#CLF?CI#
OLF?#>I#OLF?>QF#'>FL>@#A>QNR#?ETC#>ILSL@ENNJ#L@#E@R#KI>G#LFPCNK#1C@PCD
+,#9CPAEIFCP0P#L@EMLNLFJ#F>#F?L@B#>K#$?>QS?F#EP#'EFFCI#L@#'>FL>@#LP#RLPAQPPCR#EF#NC@SF?#L@#
GJ#M>>B#8"$/'*":/$)//%4=<21*$)-%XYZZYE^,#=>?@#)EQSCNE@R0P#EHFNJ#FLFNCR#M>>BD#E6,*>*'*12%
F$,)22*5)$')G%H#)%I)63%F-)1%X#YZef#^D#LP#E#KL@C#L@FI>RQAFL>@#F>#F?C#H?LN>P>H?LAEN#HEF?P#F?EF#
GEBC#F?LP#LRCE#F?L@BEMNC#EKFCI#ENN,
!"#######$%&&#'%#()*
,-./-012345#647#8439:-7;-5#6<#2<#-=27-41#>.3?#@-4/-5#1@61#1@-4#A-4<-5#
,-./-012345#647#8439:-7;-#?B<1#C-#6#0.30-.1D#-1-.46::D#24<-06.6C:-#>.3?#
'611-.#647#-=-.D#06.12/:-#3>#21E
A35#2>#&3/F-#2<#.2;@15#'247#?B<1#/3?-#>2.<1G3.#61#:-6<1#12-7#>3.#>2.<1E#H1#
/3B:7 # 431 # /3?- # 2413 # -I2<1-4/- # 61 # <3?- # :61-. # 761-5 # 6< # 64 # ->>-/1 # 3> # <3?-#
/34>:B-4/-#3>#?3.- #?37-<15# ?247:-<<# 0@-43?-46E#$@2< #0B.03.1< #13 #C- #64#
-412.-:D#<-/B:6.5#:3;2/6:G34-#?2;@1#6:?3<1#<6D#?61@-?612/6:G=2472/61234#
3>#6#/-41.6:#6<0-/1#3>#[email protected]<1264#M#647#6:<3#H<:6?2/#N#/3<?3;34DO#24#1@-#
C-;24424;#96<#<3?-1@24;#921@#'247GP6#/3;21612=-#Q-24;5P#6<#&3/F-#<6D<E#
$@-#1.67212346:#27-6#1@61#R37#2<#6#.612346:5#1@24F24;#6;-415#6#S-<2;4-.#647#
QB2:7-.#3>#1@-#93.:75#2<#@-.-#;2=-4#1@-#@2;@-<1#<16?0#3>#</2-412>2/#600.3=6:O#
:2F-#6#?61@-?612/6:#[email protected]?5#21<#7-426:#2<#<B003<-7:D#2?03<<2C:-#13#/34/-2=-E
T47#<3#21#<--?-7#13#?64D#C.2::2641#647#<F-012/6:#1@24F-.<#C->3.-#S6.924E#
T:?3<1#6#@B47.-7#D-6.<#6>1-.#&3/F-5#6431@-.#;.-61#Q.212<@#%?02.2/2<15#S6=27#
)B?-5# /34>.341-7# 1@-# 2<<B-# 6;6245# 24# 34-# 3># 1@-# ?6<1-.02-/-<#3>#(-<1-.4#
0@2:3<30@D5#@2<#012)*3"$&'(*,-$/,1,3'42."/2)'5$)131*,'MUVV+NE
WE#)X'%YA#L&ZA%#%[LZX[$%\
[61B.6:#.-:2;2345#24#)B?-Y<#76D5#?-641#6#.-:2;234#1@61#96<#<B003.1-7#CD#1@-#
461B.6:#</2-4/-<5#6<#3003<-7#13#6#P.-=-6:-7P#.-:2;2345#9@2/@#93B:7#7-0-47#34#
.-=-:61234G34 # ?D<12/6: # -I0-.2-4/- # 3. # <3?- # 31@-. # B4/@-/F6C:- # <3B./- # 3>#
/34=2/1234E#H>#D3B.#34:D#;.3B47<#>3.#D3B.#.-:2;23B<#C-:2->#2<#PR37#13:7#?-#<3#
24#6#7.-6?5P#D3B.#.-:2;234#2<#431#461B.6:#.-:2;234E#$@-#72<124/1234#93B:7#431#
@6=-#?67-#?B/@#<-4<-#C->3.-#1@-#7694#3>#?37-.4#</2-4/-#24#1@-#<-=-41--41@#
/-41B.D5#9@-4#</2-4/-#/.-61-7#6#4-95#647#/3?0-1212=-5#<16476.7#3>#-=27-4/-#
>3.#6::#C-:2->E#H1#30-4-7#B0#1@-#]B-<1234O
L64#D3B#;2=-#B<#64D#&-1$,.161-';.3B47<#>3.#D3B.#.-:2;23B<#C-:2-><^
'64D#.-:2;23B<#1@24F-.<5#600.-/26124;#1@61#1@-#0.-<12;-#3>#</2-412>2/#1@3B;@1#
96<G31@-.#1@24;<#C-24;#-]B6:G6#93.1@D#6<02.612345#133F#B0#1@-#/@6::-4;-E#H1#
2<#@6.7#13#<--#9@D#64DC37D#93B:7#9641#13#<@B4#</2-412>2/#/34>2.?61234#3>#
34-Y<#/.--75#2>#21#9-.-#[email protected]#13#C-#@67E#$@-#3=-.9@-:?24;#>6=3.21-#6?34;#
0B.03.1-7:D#</2-412>2/#6.;B?-41<#>3.#.-:2;23B<#/34/:B<234<5#1@-4#647#4395#96<#
34-#=-.<234#3.#6431@-.#3>#1@-#T.;B?-41#>.3?#S-<2;4O#6?34;#1@-#->>-/1<#9-#
/64#3C_-/12=-:D#3C<-.=-#24#1@-#93.:75#[email protected]#6.-#?64D#1@61#6.-#431#M/64431#C-5#
>3.#=6.23B<#.-6<34<#N#?-.-#6//27-41<`#1@-D#?B<1#@6=-#C--4#7-<2;4-7#13#C-#6<#
1@-D # 6.-5 # 647 # [email protected] # /64431 # C- # 7-<2;4 # 921@3B1 # 6 # S-<2;4-.` # [email protected]>3.-5 # 6#
S-<2;4-.5 # R375 # ?B<1 # -I2<1 # M3. # @6=- # -I2<1-7N5 # 6< # 1@- # <3B./- # 3> # 6:: # 1@-<-#
9347-.>B:#->>-/1<E
!"#$%&'()*&$'+,-*",.$/''''''!+
AB/@#64#6.;B?-41#/64#C-#<--4#6<#64#611-?01#61#64#6:1-.461-#.3B1-#13#&3/F-Y<#
/34/:B<2345#6#.3B1-#1@61#92::#16F-#B<#[email protected];@#<3?-9@61#?3.-#-?02.2/6:#7-162:#
24<1-67#3>#.-:D24;#<3#C:B41:D#647#72.-/1:D#34#9@61#2<#7--?-7#24/34/-2=6C:-E#
$@-#6/1B6:#>-61B.-<#3>#1@-#3C<-.=-7#7-<2;4<#?6D#C-#646:Da-75#>3.#24<164/-5#13#
<-/B.-#1@-#;.3B47<#>3.#3B.#600.-/261234#3>#1@-#92<73?#3>#1@-#S-<2;4-.5#647#
3B.#/34=2/1234#1@61#?-.-#/@64/-#/3B:7#431#C-#.-<034<2C:-#>3.#1@-<-#?6.=-:<E
H4 # )B?-Y< #012)*3"$&7 '[email protected] # >2/12346: # /@6.6/1-.< # 0B.<B- # 1@- # 7-C61- # 921@#
/34<B??61-#921#647#=2;3.E#L:-641@-<#7->-47<#1@-#T.;B?-41#>.3?#S-<2;45#
647 # ;2=-< # 21 # 34- # 3> # 21< # ?3<1 # -:3]B-41 # -I0.-<<234<E W# )-.- # 2< # @2< # 30-424;#
<161-?-41#3>#21O
&33F#.3B47#1@-#93.:7E#L341-?0:61-#1@-#9@3:-#647#-=-.D#06.1#3>#21O#*3B#
92::#>247#21#13#C-#431@24;#CB1#34-#;.-61#?6/@24-5#<BC72=27-7#2413#64#24>2421-#
4B?C-.#3>#:-<<-.#?6/@24-<5#9@2/@#6;624#67?21#3>#<BC72=2<234<#13#6#7-;.--#
C-D347#9@61#@B?64#<-4<-<#647#>6/B:12-<#/64#1.6/-#647#-I0:624E#T::#1@-<-#
=6.23B<#?6/@24-<5#647#-=-4#1@-2.#?3<1#?24B1-#06.1<5#6.-#67_B<1-7#13#-6/@#
31@-.#921@#64#6//B.6/D#9@2/@#.6=2<@-<#2413#67?2.61234#6::#?-4#9@3#@6=-#
-=-.#/341-?0:61-7#1@-?E#$@-#/B.23B<#6760124;#3>#?-64<#13#-47<5#[email protected];@K
3B1#6::#461B.-5#.-<-?C:-<5#-I6/1:D5#1@3B;@#21#?B/@#-I/--7<5#1@-#0.37B/K
1234< # 3> # @B?64 # /341.2=64/-G3> # @B?64 # 7-<2;45 # 1@3B;@15 # 92<73?5 # 647#
241-::2;-4/-E#A24/-#[email protected]>3.-#1@-#->>-/1<#.-<-?C:-#-6/@#[email protected]#9-#6.-#:-7#13#
24>-.5#CD#6::#1@-#.B:-<#3>#646:3;D5#1@61#1@-#/6B<-<#6:<3#.-<-?C:-5#647#1@61#1@-#
TB1@3.#3>#[61B.-#2<#<3?-9@61#<2?2:6.#13#1@-#?247#3>#?645#1@3B;@#03<K
<-<<-7#3>#?B/@#:6.;-.#>6/B:12-<5#0.303.1234-7#13#1@-#;.647-B.#3>#1@-#93.F#
9@2/@#@-#@6<#-I-/B1-7E#QD#1@2<#6.;B?-41#2'8*&.$/1*/17'647#CD#1@2<#6.;BK
?-41#6:34-5#73#9-#0.3=-#61#34/-#1@-#-I2<1-4/-#3>#6#S-21D#647#@2<#<2?2:6.21D#
13#@B?64#?247#647#241-::2;-4/-E#b,1E#HHc
,@2:35#6#<F-012/6:#/@6::-4;-.#13#L:-641@-<5#-:6C3.61-<#1@-#6.;B?-415#<-1124;#
21 # B0 # >3. # 7-?3:21234E #T412/206124; # ,6:-DY< # >6?3B< # -I6?0:-5 # ,@2:3 # 431-<O#
[email protected]#<-=-.6:#02-/-<#3>#<1--:#13;[email protected]#921@3B1 #<@60-#3.#>3.?`#1@-D#92::#
4-=-.#6..64;-#1@-?<-:=-<#<3#6<#13#/3?03<-#6#961/@EPd# )-#;3-<#34O#PA134-5#
647#?3.16.5#647#93375#921@3B1#64#6./@21-/15#4-=-.#-.-/1#6#@3B<-E#QB1#1@-
WE##(2::26?#,6:-D#/6..2-7#1@-#T.;B?-41#>.3?#S-<2;4#2413#?B/@#;.-61-.#C23:3;2/6:#7-162:#24#@2<#
U"ef # C33F5 #42."/2) ' 9:$*)*3;7 '67724; # ?64D # 24;-423B< # >:3B.2<@-<E # ,6:-DY<# 24>:B-4126:#
=-.<234#96<#1@-#6/1B6:#24<02.61234#647#16.;-1#3>#S6.924Y<#.-CB116:5#CB1#)B?-Y<#L:-641@-<#
/61/@-<#6::#3>#1@-#6.;B?-41Y<#:3;2/6:#647#[email protected]/6:#>3./-E
dE##R_-.1<-4#03241<#3B1#1@61#193#?2::-4426#-6.:2-.5#L2/-.3#B<-7#1@-#<6?-#-I6?0:-#>3.#1@-#
<6?-#0B.03<-O#P(@-4#D3B#<--#6#<B4726:#3.#6#961-.K/:3/F5#D3B#<--#1@61#21#1-::<#1@-#12?-#CD#
7-<2;4#647#431#CD#/@64/-E#)39#1@-4#/64#D3B#2?6;24-#1@61#1@-#B42=-.<-#6<#6#9@3:-#2<#
7-=327#3>#0B.03<-#647#241-::2;-4/-5#9@-4#21#-?C.6/-<#-=-.D1@24;5#24/:B724;#1@-<-#6.12K
>6/1<#1@-?<-:=-<#647#1@-2.#6.12>2/-.<^P#MR_-.1<-4#U+"+5#0E#U++NE
!"#######$%&&#'%#()*
,-./-012345#647#8439:-7;-5#6<#2<#-=27-41#>.3?#@-4/-5#1@61#1@-4#A-4<-5#
,-./-012345#647#8439:-7;-#?B<1#C-#6#0.30-.1D#-1-.46::D#24<-06.6C:-#>.3?#
'611-.#647#-=-.D#06.12/:-#3>#21E
A35#2>#&3/F-#2<#.2;@15#'247#?B<1#/3?-#>2.<1G3.#61#:-6<1#12-7#>3.#>2.<1E#H1#
/3B:7 # 431 # /3?- # 2413 # -I2<1-4/- # 61 # <3?- # :61-. # 761-5 # 6< # 64 # ->>-/1 # 3> # <3?-#
/34>:B-4/-#3>#?3.- #?37-<15# ?247:-<<# 0@-43?-46E#$@2< #0B.03.1< #13 #C- #64#
-412.-:D#<-/B:6.5#:3;2/6:G34-#?2;@1#6:?3<1#<6D#?61@-?612/6:G=2472/61234#
3>#6#/-41.6:#6<0-/1#3>#[email protected]<1264#M#647#6:<3#H<:6?2/#N#/3<?3;34DO#24#1@-#
C-;24424;#96<#<3?-1@24;#921@#'247GP6#/3;21612=-#Q-24;5P#6<#&3/F-#<6D<E#
$@-#1.67212346:#27-6#1@61#R37#2<#6#.612346:5#1@24F24;#6;-415#6#S-<2;4-.#647#
QB2:7-.#3>#1@-#93.:75#2<#@-.-#;2=-4#1@-#@2;@-<1#<16?0#3>#</2-412>2/#600.3=6:O#
:2F-#6#?61@-?612/6:#[email protected]?5#21<#7-426:#2<#<B003<-7:D#2?03<<2C:-#13#/34/-2=-E
T47#<3#21#<--?-7#13#?64D#C.2::2641#647#<F-012/6:#1@24F-.<#C->3.-#S6.924E#
T:?3<1#6#@B47.-7#D-6.<#6>1-.#&3/F-5#6431@-.#;.-61#Q.212<@#%?02.2/2<15#S6=27#
)B?-5# /34>.341-7# 1@-# 2<<B-# 6;6245# 24# 34-# 3># 1@-# ?6<1-.02-/-<#3>#(-<1-.4#
0@2:3<30@D5#@2<#012)*3"$&'(*,-$/,1,3'42."/2)'5$)131*,'MUVV+NE
WE#)X'%YA#L&ZA%#%[LZX[$%\
[61B.6:#.-:2;2345#24#)B?-Y<#76D5#?-641#6#.-:2;234#1@61#96<#<B003.1-7#CD#1@-#
461B.6:#</2-4/-<5#6<#3003<-7#13#6#P.-=-6:-7P#.-:2;2345#9@2/@#93B:7#7-0-47#34#
.-=-:61234G34 # ?D<12/6: # -I0-.2-4/- # 3. # <3?- # 31@-. # B4/@-/F6C:- # <3B./- # 3>#
/34=2/1234E#H>#D3B.#34:D#;.3B47<#>3.#D3B.#.-:2;23B<#C-:2->#2<#PR37#13:7#?-#<3#
24#6#7.-6?5P#D3B.#.-:2;234#2<#431#461B.6:#.-:2;234E#$@-#72<124/1234#93B:7#431#
@6=-#?67-#?B/@#<-4<-#C->3.-#1@-#7694#3>#?37-.4#</2-4/-#24#1@-#<-=-41--41@#
/-41B.D5#9@-4#</2-4/-#/.-61-7#6#4-95#647#/3?0-1212=-5#<16476.7#3>#-=27-4/-#
>3.#6::#C-:2->E#H1#30-4-7#B0#1@-#]B-<1234O
L64#D3B#;2=-#B<#64D#&-1$,.161-';.3B47<#>3.#D3B.#.-:2;23B<#C-:2-><^
'64D#.-:2;23B<#1@24F-.<5#600.-/26124;#1@61#1@-#0.-<12;-#3>#</2-412>2/#1@3B;@1#
96<G31@-.#1@24;<#C-24;#-]B6:G6#93.1@D#6<02.612345#133F#B0#1@-#/@6::-4;-E#H1#
2<#@6.7#13#<--#9@D#64DC37D#93B:7#9641#13#<@B4#</2-412>2/#/34>2.?61234#3>#
34-Y<#/.--75#2>#21#9-.-#[email protected]#13#C-#@67E#$@-#3=-.9@-:?24;#>6=3.21-#6?34;#
0B.03.1-7:D#</2-412>2/#6.;B?-41<#>3.#.-:2;23B<#/34/:B<234<5#1@-4#647#4395#96<#
34-#=-.<234#3.#6431@-.#3>#1@-#T.;B?-41#>.3?#S-<2;4O#6?34;#1@-#->>-/1<#9-#
/64#3C_-/12=-:D#3C<-.=-#24#1@-#93.:75#[email protected]#6.-#?64D#1@61#6.-#431#M/64431#C-5#
>3.#=6.23B<#.-6<34<#N#?-.-#6//27-41<`#1@-D#?B<1#@6=-#C--4#7-<2;4-7#13#C-#6<#
1@-D # 6.-5 # 647 # [email protected] # /64431 # C- # 7-<2;4 # 921@3B1 # 6 # S-<2;4-.` # [email protected]>3.-5 # 6#
S-<2;4-.5 # R375 # ?B<1 # -I2<1 # M3. # @6=- # -I2<1-7N5 # 6< # 1@- # <3B./- # 3> # 6:: # 1@-<-#
9347-.>B:#->>-/1<E
!"#$%&'()*&$'+,-*",.$/''''''!+
AB/@#64#6.;B?-41#/64#C-#<--4#6<#64#611-?01#61#64#6:1-.461-#.3B1-#13#&3/F-Y<#
/34/:B<2345#6#.3B1-#1@61#92::#16F-#B<#[email protected];@#<3?-9@61#?3.-#-?02.2/6:#7-162:#
24<1-67#3>#.-:D24;#<3#C:B41:D#647#72.-/1:D#34#9@61#2<#7--?-7#24/34/-2=6C:-E#
$@-#6/1B6:#>-61B.-<#3>#1@-#3C<-.=-7#7-<2;4<#?6D#C-#646:Da-75#>3.#24<164/-5#13#
<-/B.-#1@-#;.3B47<#>3.#3B.#600.-/261234#3>#1@-#92<73?#3>#1@-#S-<2;4-.5#647#
3B.#/34=2/1234#1@61#?-.-#/@64/-#/3B:7#431#C-#.-<034<2C:-#>3.#1@-<-#?6.=-:<E
H4 # )B?-Y< #012)*3"$&7 '[email protected] # >2/12346: # /@6.6/1-.< # 0B.<B- # 1@- # 7-C61- # 921@#
/34<B??61-#921#647#=2;3.E#L:-641@-<#7->-47<#1@-#T.;B?-41#>.3?#S-<2;45#
647 # ;2=-< # 21 # 34- # 3> # 21< # ?3<1 # -:3]B-41 # -I0.-<<234<E W# )-.- # 2< # @2< # 30-424;#
<161-?-41#3>#21O
&33F#.3B47#1@-#93.:7E#L341-?0:61-#1@-#9@3:-#647#-=-.D#06.1#3>#21O#*3B#
92::#>247#21#13#C-#431@24;#CB1#34-#;.-61#?6/@24-5#<BC72=27-7#2413#64#24>2421-#
4B?C-.#3>#:-<<-.#?6/@24-<5#9@2/@#6;624#67?21#3>#<BC72=2<234<#13#6#7-;.--#
C-D347#9@61#@B?64#<-4<-<#647#>6/B:12-<#/64#1.6/-#647#-I0:624E#T::#1@-<-#
=6.23B<#?6/@24-<5#647#-=-4#1@-2.#?3<1#?24B1-#06.1<5#6.-#67_B<1-7#13#-6/@#
31@-.#921@#64#6//B.6/D#9@2/@#.6=2<@-<#2413#67?2.61234#6::#?-4#9@3#@6=-#
-=-.#/341-?0:61-7#1@-?E#$@-#/B.23B<#6760124;#3>#?-64<#13#-47<5#[email protected];@K
3B1#6::#461B.-5#.-<-?C:-<5#-I6/1:D5#1@3B;@#21#?B/@#-I/--7<5#1@-#0.37B/K
1234< # 3> # @B?64 # /341.2=64/-G3> # @B?64 # 7-<2;45 # 1@3B;@15 # 92<73?5 # 647#
241-::2;-4/-E#A24/-#[email protected]>3.-#1@-#->>-/1<#.-<-?C:-#-6/@#[email protected]#9-#6.-#:-7#13#
24>-.5#CD#6::#1@-#.B:-<#3>#646:3;D5#1@61#1@-#/6B<-<#6:<3#.-<-?C:-5#647#1@61#1@-#
TB1@3.#3>#[61B.-#2<#<3?-9@61#<2?2:6.#13#1@-#?247#3>#?645#1@3B;@#03<K
<-<<-7#3>#?B/@#:6.;-.#>6/B:12-<5#0.303.1234-7#13#1@-#;.647-B.#3>#1@-#93.F#
9@2/@#@-#@6<#-I-/B1-7E#QD#1@2<#6.;B?-41#2'8*&.$/1*/17'647#CD#1@2<#6.;BK
?-41#6:34-5#73#9-#0.3=-#61#34/-#1@-#-I2<1-4/-#3>#6#S-21D#647#@2<#<2?2:6.21D#
13#@B?64#?247#647#241-::2;-4/-E#b,1E#HHc
,@2:35#6#<F-012/6:#/@6::-4;-.#13#L:-641@-<5#-:6C3.61-<#1@-#6.;B?-415#<-1124;#
21 # B0 # >3. # 7-?3:21234E #T412/206124; # ,6:-DY< # >6?3B< # -I6?0:-5 # ,@2:3 # 431-<O#
[email protected]#<-=-.6:#02-/-<#3>#<1--:#13;[email protected]#921@3B1 #<@60-#3.#>3.?`#1@-D#92::#
4-=-.#6..64;-#1@-?<-:=-<#<3#6<#13#/3?03<-#6#961/@EPd# )-#;3-<#34O#PA134-5#
647#?3.16.5#647#93375#921@3B1#64#6./@21-/15#4-=-.#-.-/1#6#@3B<-E#QB1#1@-
WE##(2::26?#,6:-D#/6..2-7#1@-#T.;B?-41#>.3?#S-<2;4#2413#?B/@#;.-61-.#C23:3;2/6:#7-162:#24#@2<#
U"ef # C33F5 #42."/2) ' 9:$*)*3;7 '67724; # ?64D # 24;-423B< # >:3B.2<@-<E # ,6:-DY<# 24>:B-4126:#
=-.<234#96<#1@-#6/1B6:#24<02.61234#647#16.;-1#3>#S6.924Y<#.-CB116:5#CB1#)B?-Y<#L:-641@-<#
/61/@-<#6::#3>#1@-#6.;B?-41Y<#:3;2/6:#647#[email protected]/6:#>3./-E
dE##R_-.1<-4#03241<#3B1#1@61#193#?2::-4426#-6.:2-.5#L2/-.3#B<-7#1@-#<6?-#-I6?0:-#>3.#1@-#
<6?-#0B.03<-O#P(@-4#D3B#<--#6#<B4726:#3.#6#961-.K/:3/F5#D3B#<--#1@61#21#1-::<#1@-#12?-#CD#
7-<2;4#647#431#CD#/@64/-E#)39#1@-4#/64#D3B#2?6;24-#1@61#1@-#B42=-.<-#6<#6#9@3:-#2<#
7-=327#3>#0B.03<-#647#241-::2;-4/-5#9@-4#21#-?C.6/-<#-=-.D1@24;5#24/:B724;#1@-<-#6.12K
>6/1<#1@-?<-:=-<#647#1@-2.#6.12>2/-.<^P#MR_-.1<-4#U+"+5#0E#U++NE
!"########$%&&#'%#()*
,-./0 # ,1 # / # 234/1 # 4,1-5 # 6. # 0..5 # 78 # /1 # 3191:615 # ,1.;<=,>/7=. # .>:1:485#
/??/1@.#A2.40.=B.0#0:#/0#A:#C:?4#A2.#<=/1#:C#/#6/A>2#:?#2:30.D#%;<.?,.1>.5#
A2.?.C:?.5#<?:B.05#A2/A#A2.?.#,0#/1#:?,@,1/=#<?,1>,<=.#:C#:?-.?#,1#4,1-5#1:A#,1#
4/AA.?E#FGAD#HHID
J:A.#A2/A#A2.#[email protected]#C?:4#L.0,@1#-.<.1-0#:1#/1#,1-3>A,B.#,1C.?.1>.M#
62.?.#A2.?.N0#04:9.5#A2.?.N0#C,?.O#/1-#62.?.#A2.?.N0#-.0,@15#A2.?.N0#4,1-D#P3A#
A2,0#,0#/#-37,:30#,1C.?.1>.5#G2,=:#:70.?B.0M#234/1#,1A.==,@.1>.#,0
1:#4:?.#A2/1#:1.#:C#A2.#0<?,1@0#/1-#<?,1>,<=.0#:C#A2.#31,B.?0.5#/0#6.==#
/0#2./A#:?#>:=-5#/AA?/>A,:1#:?#?.<3=0,:15#/1-#/#231-?.-#:A2.?05#62,>2#C/==
31-.?#-/,=8#:70.?B/A,:1QQQP3A#>/1#/#>:1>=30,:15#6,A2#/18#<?:<?,.A85#7.
A?/10C.??.-#C?:4#</?A0#A:#A2.#62:=.RDDD#S?:4#:70.?B,1@#A2.#@?:6A2#:C#/#
2/,?5#>/1#6.#=./?1#/18#A2,1@#>:1>.?1,1@#A2.#@.1.?/A,:1#:C#/#4/1RDDD#(2/A#
<.>3=,/? # <?,B,=.@.# 2/0 # A2,0 # =,AA=. # /@,A/A,:1# :C# A2. # 7?/,1 # 62,>2 # 6. # >/==#
A2:3@2A5#A2/A#6.#430A#A230#4/9.#,A#A2.#4:-.=#:C#A2.#62:=.#31,B.?0.RDDD#
K-4,?/7=.#>:1>=30,:1T#UA:1.5#6::-5#7?,>95#,?:15#7?/00#2/B.#1:A5#/A#A2,0#
A,4.5#,1#A2,0#4,13A.#@=:7.#:C#./?A25#/1#:?-.?#:?#/??/[email protected]#6,A2:3A#
234/1#/?A#/1-#>:1A?,B/1>.M#$2.?.C:?.#A2.#31,B.?0.#>:3=-#1:A#:?,@,1/==8#
/AA/,1#,A0#:?-.?#/1-#/??/[email protected]#6,A2:3A#0:4.A2,1@#0,4,=/?#A:#234/1#
/?AD#VGAD#HHDW
P.0,-.05#G2,=:#:70.?B.05#,C#6.#<3A#4,1-#/0#A2.#C,?0A#>/30.5#6,A2#,A0#E3191:615#
,1.;<=,>/7=.#.>:1:485E#A2,0#:1=8#<:0A<:1.0#A2.#<?:7=.4M
(.#/?.#0A,==#:7=,@.-#A:#4:31A#2,@2.?5#,1#:?-.?#A:#C,1-#A2.#>/30.#:C#A2,0
>/30.5#62,>2#8:3#2/-#/00,@1.-#/0#0/A,0C/>A:?8#/1-#>:1>=30,B.QQQQQ):6
A2.?.C:?.#02/==#6.#0/A,0C8#:3?0.=B.0#>:1>.?1,1@#A2.#>/30.#:C#A2/A#P.,1@5#
62:4#8:3#03<<:0.#A2.#K3A2:?#:C#1/A3?.5#:?5#/>>:?-,1@#A:#8:3?#080A.4#:C#
/1A2?:<:4:?<2,045#A2.#,-./=#6:?=-5#,1A:#62,>2#8:3#A?/>.#A2.#4/A.?,/=R#
)/B.#6.#1:A#A2.#0/4.#?./0:1#A:#A?/>.#A2/A#,-./=#6:?=-#,1A:#/1:A2.?#,-./=#
6:?=-5#:?#1.6#,1A.==,@.1A#<?,1>,<=.R#P3A#,C#6.#0A:<5#/1-#@:#1:#C/?A2.?O#
628#@:#0:#C/?R#(28#1:A#0A:<#/A#A2.#4/A.?,/=#6:?=-R#):6#>/1#6.#0/A,0C8#
:3?0.=B.0#6,A2:3A#@:,1@#:1#0,'0,10,0."#2'K1-#/CA.?#/==5#62/A#0/A,0C/>A,:1#
,0#A2.?.#,1#A2/A#,1C,1,A.#<?:@?.00,:1R#VGAD#HXDI
Y=./1A2.0#2/0#1:#0/A,0C/>A:?8#?.0<:10.0#A:#A2.0.#?2.A:?,>/=#Z3.0A,:105#/1-#
A2.?.#,0#6:?0.#A:#>:4.D#Y=./1A2.0#,10,0A0#A2/A#[:-N0#4,1-#,0#)03$'.4$'4"#5,\
/1-#/@?..0#62.1#G2,=:#/--0#EA2.#=,9.?#A2.#7.AA.?DE#P3A5#A2.15#G2,=:#<?.00.0#:15#
,0#[:-N0#4,1-#<.?C.>A5#EC?..#C?:4#.B.?8#.??:?5#4,0A/9.5#:?#,1>:2.?.1>.#,1#2,0#
31-.?A/9,1@0E#FGAD#XIR#$2.?.#,0#/#?,B/=#28<:A2.0,0#A:#?3=.#:3AM
K1- # 62/A # 03?<?,0. # 430A # 6. # .1A.?A/,15 # 62.1 # 6. # C,1- # 2,4 # / # 0A3<,-#
4.>2/1,>5#62:#,4,A/A.-#:A2.?05#/1-#>:<,.-#/1#/?A5#62,>25#A2?:3@2#/#=:1@#
03>>.00,:1 # :C # /@.05 # /CA.? # 43=A,<=,.- # A?,/=05 # 4,0A/9.05 # >:??.>A,:105#
-.=,7.?/A,:105#/1-#>:1A?:B.?0,.05#2/-#7..1#@?/-3/==8#,4<?:B,1@R#'/18#
6:?=-0#4,@2A#2/B.
!"#$%&'()*&$'+,-*",.$/'''''''!+
!""#$!%&'(")$*#)$!+#,-").$&(/%+,(%+&$*#$"&"/#0&1.$"/"$&(02$212&"3$4*2$
2&/+'5$%+&6$7+'($-*!%+/$-%2&6$7*#1$8/+0&-"22$&/0*-2$3*)"6$9#)$*$2-%4.$!+&$
'%#&0#+")$03:/%;"3"#&$'*//0")$%#$)+/0#,$0#80#0&"$*,"2$%8$4%/-)<3*50#,=$
>?&=$@=A
B("#$?(0-%$:/"2"#&2$&(02$8*#'08+-$*-&"/#*&0;".$40&($0&2$!/"*&(&*50#,$*#&0'0:*<
&0%#2$%8$C*/40#D2$0#20,(&.$("$)%"2#D&$&*5"$0&$2"/0%+2-1$"E'":&$*2$*$)"!*&0#,$8%0-$
&%$F-"*#&("2D$;020%#$%8$*#$*--<402"$9/&080'"/=$G+3"$+2"2$0&$%#-1$&%$3*5"$*$
:%0#& $ *!%+& $ 4(*& $ (" $ 2*4 $ *2 $ &(" $ -030&*&0%#2 $ %# $ %+/ $ 5#%4-"),"6 $ HI# $ 2+'($
2+!J"'&2.$4(%$'*#$)"&"/30#".$4("/"$&("$&/+&(K$#*1.$4(%$'*#$'%#J"'&+/"$4("/"$
&(" $ :/%!*!0-0&1. $ -0"2K $ *30)2& $ * $ ,/"*& $ #+3!"/ $ %8 $ (1:%&("2"2 $ 4(0'( $ 3*1 $ !"$
:/%:%2"). $ *#) $ * $ 2&0-- $ ,/"*&"/ $ #+3!"/ $ 4(0'( $ 3*1 $ !" $ 03*,0#")H $ >?&= $ @L=$
I3*,0#*&0%#$/+#2$/0%&.$*#).$"E:-%0&0#,$&(*&$8"'+#)0&1.$?(0-%$&0"2$F-"*#&("2$+:$
0# $ 5#%&2. $ )";020#, $ 4"0/) $ *#) $ '%30'*- $ ;*/0*&0%#2 $ %# $ F-"*#&("2D $ %4# $ (1<
:%&("2"2.$ )"810#,$ F-"*#&("2 $&% $2(%4$4(1$ (02$ %4#$ ;"/20%#$2(%+-) $!" $:/"<
8"//")=$HB(1$3*1$#%&$2";"/*-$C"0&0"2$'%3!0#"$0#$'%#&/0;0#,$*#)$8/*30#,$*$
4%/-)M===$9#)$4(1$#%&$!"'%3"$*$:"/8"'&$*#&(/%:%3%/:(0&"M$B(1$#%&$*22"/&$
&("$C"0&1$%/$C"0&0"2$&%$!"$'%/:%/"*-.$*#)$&%$(*;"$"1"2.$*$#%2".$3%+&(.$"*/2.$
"&'=MH $ >?&= $ @L= $ 9& $ %#" $ :%0#&. $ ?(0-% $ *#&0'0:*&"2 $ &(" $ N*0* $ (1:%&("2026 $ &("$
+#0;"/2"
!"*/2$*$,/"*&$/"2"3!-*#'"$&%$*#$*#03*-$%/$%/,*#0O")$!%)1.$*#)$2""32$
*'&+*&")$40&($*$-05"$:/0#'0:-"$%8$-08"$*#)$3%&0%#=$9$'%#&0#+*-$'0/'+-*&0%#$
%8
3*&&"/$0#$0&$:/%)+'"2$#%$)02%/)"/PPPPQ("$4%/-).$&("/"8%/".$I$0#8"/.$02$*#
*#03*-.$*#)$&("$C"0&1$02$&("$RSTU$%8$&("$4%/-).$*'&+*&0#,$0&$*#)$*'&+*&")$
!1$0&=$V?&=$@I=A
S/$:"/(*:2$02#D&$&("$4%/-)$/"*--1$3%/"$-05"$*$;","&*!-"$&(*#$*#$*#03*-M
I#$-05"$3*##"/$*2$*$&/""$2(")2$0&2$2"")$0#&%$&("$#"0,(!%/0#,$80"-)2.$*#)$
:/%)+'"2$%&("/$&/""2K$2%$&("$,/"*&$;","&*!-".$&("$4%/-).$%/$&(02$:-*#"&*/1$
212&"3.$:/%)+'"2$40&(0#$0&2"-8$'"/&*0#$2"")2.$4(0'(.$!"0#,$2'*&&"/")$0#&%$
&("$2+//%+#)0#,$'(*%2.$;","&*&"$0#&%$#"4$4%/-)2=$9$'%3"&.$8%/$0#2&*#'".$
02$&("$2"")$%8$*$4%/-)====$V?&=$@II=A
S#"$3%/"$40-)$:%220!0-0&1$8%/$,%%)$3"*2+/"6
Q("$W/*(30#2$*22"/&.$&(*&$&("$4%/-)$*/%2"$8/%3$*#$0#80#0&"$2:0)"/.$4(%$
2:+# $ &(02 $ 4(%-" $ '%3:-0'*&") $ 3*22 $ 8/%3 $ (02 $ !%4"-2. $ *#) $ *##0(0-*&"2$
*8&"/4*/)2 $ &(" $ 4(%-" $ %/ $ *#1 $ :*/& $ %8 $ 0&. $ !1 $ *!2%/!0#, $ 0& $ *,*0#. $ *#)$
/"2%-;0#,$0&$0#&%$(02$%4#$"22"#'"=$G"/"$02$*$2:"'0"2$%8$'%23%,%#1.$4(0'($
*::"*/2$&%$+2$/0)0'+-%+2K$!"'*+2"$*$2:0)"/$02$*$-0&&-"$'%#&"3:&0!-"$*#03*-.$
4(%2"$%:"/*&0%#$4"$*/"$#";"/$-05"-1$&%$&*5"$8%/$*$3%)"-$%8$&("$4(%-"$
+#0;"/2"=$W+&$2&0--$("/"$02
!"#######$%&&#'%#()*
+#,-.#/0-12-/#34#+,+53678#-9-,#2,#3:;#653<-=#>,?#.-;-#@A-;-#+#05+,-@#
.A3557#2,A+<2@-?#<7#/02?-;/#B.A21A#2/#9-;7#03//2<5-C8#@A2/#2,4-;-,1-#.3:5?#
@A-;-#+00-+;#+/#,+@:;+5#+,?#2;;-4;+6+<5-#+/#@A+@#.A21A#2,#3:;#05+,-@#+/1;2<-/#
@A-#3;262,#34#+55#@A2,6/#@3#?-/26,#+,?#2,@-5526-,1-8#+/#-D05+2,-?#<7#E5-+,F
@A-/=#(A7#+,#3;?-;57#/7/@-G#G+7#,3@#<-#/0:,#4;3G#@A-#<-557#+/#.-55#+/#4;3G#
@A-#<;+2,8#2@#.255#<-#?24421:5@#43;#A2G#@3#629-#+#/+@2/4+1@3;7#;-+/3,=#HI@=#JKK=L
E5-+,@A-/#;-/2/@/#@A-/-#3,/5+:6A@/#6+G-578#<:@#IA253#/A3./#4+@+5#45+./#2,#
-9-;7#9-;/23,#34#@A-#+;6:G-,@#@A+@#E5-+,@A-/#1+,#?-92/-=#>@#@A-#9-;7#-,?#34#
@A-#012)*3"$&4'A3.-9-;8#IA253#/:;0;2/-/#:/#<7#+6;--2,6#.2@A#E5-+,@A-/M
===#?2-#5-62@2G+@-#13,15:/23,#2/#@A+@===#24#.-#+;-#,3@#13,@-,@-?#.2@A#1+552,6#
@A-#42;/@#+,?#/:0;-G-#1+:/-#+#5*6'3;#0$1.74'<:@#?-/2;-#@3#9+;7#@A-#-D0;-/F
/23,8#.A+@#1+,#.-#1+55#A2G#<:@ #81,6 '3; #9:*"3:. '@3#.A21A#A-#2/#N:/57#
/:003/-?#@3#<-+;#+#13,/2?-;+<5-#;-/-G<5+,1-O#HI@=#PKK=L
IA253#2/#/:;-57#):G-Q/#G3:@A02-1-#2,#@A-#012)*3"$&;'(A7#?2?#):G-#1+9-#
2,O#R:@#34#4-+;#34#;-0;2/+5#4;3G#@A-#-/@+<52/AG-,@O#S3=#):G-#T,-.#A-#A+?#
/A3.,#@A+@#@A-#>;6:G-,@#4;3G#U-/26,#.+/#+,#2;;-0+;+<57#45+.-?#<;2?6-#<-F
@.--,#/12-,1-#+,?#;-52623,8#+,?#A-#+;;+,6-?#@3#A+9-#:1&'012)*3"$&'0:<52/A-?#
+4@-;#A2/#?-+@A#2,#VWWX#0;-12/-57#2,#3;?-;#@3#/+9-#A2G/-54#4;3G#0-;/-1:@23,=#
)-#1+9-?#2,#<-1+:/- #:$'<"&.'-*")6,%.'1#231,$ '+,7#3@A-;#-D05+,+@23,#34#@A-#
3;262,#34#@A-#G+,24-/@#?-/26,#2,#,+@:;-=#):G-#13:5?#,3@#/--#A3.#@A-#Y1:;23:/#
+?+0@2,6#34#G-+,/#@3#-,?/8#@A;3:6A3:@#+55#,+@:;-Y#13:5?#<-#?:-#@3#1A+,1-Z#
+,?#24#,3@#1A+,1-8#.A+@O
(A+@#13:5?#03//2<57#+113:,@#43;#@A2/#A26AF[:+52@7#?-/26,#24#,3@#+,#2,@-5F
526-,@#\3?O#IA253#2/#3,-#34#@A-#G3/@#2,6-,23:/#+,?#;-/3:;1-4:5#13G0-@2@3;/#2,#
+,7#0A253/30A21+5#?-<+@-8#;-+5#3;#2G+62,+;78#+,?#A-#G+T-/#/3G-#.3,?-;4:5#
/@+</#2,#@A-#?+;T8#A:,@2,6#43;#+,#+5@-;,+@29-=#K,#I+;@#JKKK8#A-#?;-+G/#:0#/3G-#
/0-1:5+@23,/ # @A+@ # 13G- # @+,@+52]2,657 # 153/- # @3 # /13302,6# U+;.2,# B+,? # /3G-#
G3;-#;-1-,@#U+;.2,2+,#-5+<3;+@23,/C#<7#,-+;57#+#1-,@:;7=
K,/@-+?#34#/:003/2,6#G+@@-;#2,42,2@-8#+/#%021:;:/#?2?8#5-@#:/#/:003/-#2@#42,2@-=#
>#42,2@-#,:G<-;#34#0+;@215-/#2/#3,57#/:/1-0@2<5-#34#42,2@-#@;+,/03/2@23,/M#>,?#
2@#G:/@#A+00-,8#2,#+,#-@-;,+5#?:;+@23,8#@A+@#-9-;7#03//2<5-#3;?-;#3;#03/2@23,
G:/@#<-#@;2-?#+,#2,42,2@-#,:G<-;#34#@2G-/^^^^K/#@A-;-#+#/7/@-G8#+,#3;?-;8#+,
-13,3G7#34#@A2,6/8#<7#.A21A#G+@@-;#1+,#0;-/-;9-#@A+@#0-;0-@:+5#+62@+@23,8#
.A21A#/--G/#-//-,@2+5#@3#2@8#+,?#7-@#G+2,@+2,#+#13,/@+,17#2,#@A-#43;G/8#
.A21A#2@#0;3?:1-/O#$A-;-#1-;@+2,57#2/#/:1A#+,#-13,3G7M#_3;#@A2/#2/#+1@:+557#
@A-#1+/-#.2@A#@A-#0;-/-,@#.3;5?=#$A-#13,@2,:+5#G3@23,#34#G+@@-;8#@A-;-F
43;-8#2,#5-//#@A+,#2,42,2@-#@;+,/03/2@23,/8#G:/@#0;3?:1-#@A2/#-13,3G7#3;#
3;?-;`#+,?#<7#2@/#9-;7#,+@:;-8#@A+@#3;?-;8#.A-,#3,1-#-/@+<52/A-?8#/:003;@/#
2@/-548#43;#G+,7#+6-/8#24#,3@#@3#-@-;,2@7=#a:@#.A-;-9-;#G+@@-;#2/#/3#032/-?8#
+;;+,6-?8#+,?#+?N:/@-?#+/#@3#13,@2,:-#2,#0-;0-@:+5#G3@23,8#+,?#7-@#0;-F
!"#$%&'()*&$'+,-*",.$/'''''''!!
/-;9-#+#13,/@+,17#2,#@A-#43;G/8#2@/#/2@:+@23,#G:/@8#34#,-1-//2@78#A+9-#+55#@A/+G-#+00-+;+,1-#34#+;@#+,?#13,@;29+,1-#.A21A#.-#3</-;9-#+@#0;-/-,@^^^^
>#?-4-1@#2,#+,7#34#@A-/-#0+;@21:5+;/#?-/@;37/#@A-#43;G`#+,?#@A-#G+@@-;8#34#
.A21A#2@#2/#13G03/-?8#2/#+6+2,#/-@#533/-8#+,?#2/#@A;3.,#2,@3#2;;-6:5+;
G3@23,/#+,?#4-;G-,@+@23,/8#@255#2@#:,2@-#2@/-54#@3#/3G-#3@A-;#;-6:5+;#43;G^^^^
b:003/-#===#@A+@#G+@@-;#.-;-#@A;3.,#2,@3#+,7#03/2@23,8#<7#+#<52,?8#:,F
6:2?-?#43;1-`#2@#2/#-92?-,@#@A+@#@A2/#42;/@#03/2@23,#G:/@#2,#+55#0;3<+<252@7#<-#
@A-#G3/@#13,4:/-?#+,?#G3/@#?2/3;?-;57#2G+62,+<5-8#.2@A3:@#+,7#;-/-GF
<5+,1-#@3#@A3/-#.3;T/#34#A:G+,#13,@;29+,1-8#.A21A8#+53,6#.2@A#+#/7GG-F
@;7#34#0+;@/8#?2/139-;#+,#+?N:/@G-,@#34#G-+,/#@3#-,?/#+,?#+#@-,?-,17#@3
/-54F0;-/-;9+@23,^^^b:003/-8#@A+@#@A-#+1@:+@2,6#43;1-8#.A+@-9-;#2@#<-8#/@255
13,@2,:-/#2,#G+@@-;^^^^$A:/#@A-#:,29-;/-#63-/#3,#43;#G+,7#+6-/#2,#+
13,@2,:-?#/:11-//23,#34#1A+3/#+,?#?2/3;?-;=#a:@#2/#2@#,3@#03//2<5-#@A+@#2@#
G+7#/-@@5-#+@#5+/@===#O#'+7#.-#,3@#A30-#43;#/:1A#+#03/2@23,8#3;#;+@A-;#<-#
+//:;-?#34#2@8#4;3G#@A-#-@-;,+5#;-935:@23,/#34#:,6:2?-?#G+@@-;8#+,?#G+7#,3@#
@A2/#+113:,@#43;#+55#@A-#+00-+;2,6#.2/?3G#+,?#13,@;29+,1-#.A21A#2/#2,#@A-#
:,29-;/-O
)GG8#2@#/--G/#@A+@#/3G-@A2,6#52T-#@A2/#G26A@#.3;T===#<:@#):G-#13:5?,Q@#
[:2@-#@+T-#IA253Q/#?+;2,6#43;+7#/-;23:/57=#)2/#42,+5#9-;?21@M#Y>#@3@+5#/:/0-,/-#
34#N:?6G-,@#2/#A-;-#3:;#3,57#;-+/3,+<5-#;-/3:;1-Y#BI@=#JKKKC=#>#4-.#7-+;/#
<-43;-#A2G8#U-,2/#U2?-;3@#A+?#+5/3#.;2@@-,#/3G-#/0-1:5+@23,/#@A+@#@+,@+52]F
2,657#43;-/A+?3.-?#U+;.2,M#YK#1+,#G+2,@+2,#@3#73:#===#@A+@#G3,/@-;/#+,,2F
A25+@-? # 3,- # +,3@A-; # 2, # /:11-//23,` # @A+@ # +55 # @A- # ?-4-1@29- # 13G<2,+@23,/ # 34#
G+@@-;#A+9-#?2/+00-+;-?8#+,?#@A+@#@A-;-#A+9-#3,57#/:;929-?#@A3/-#2,#.A21A#@A-#
3;6+,2]+@23,#?2?#,3@#2,9359-#+,7#2G03;@+,@#13,@;+?21@23,8#+,?#.A21A#13:5?#
/:</2/@#<7#@A-G/-59-/#+,?#0-;0-@:+@-#@A-G/-59-/Y#BU2?-;3@#VWcdC=#E:@-#2?-+/#
+<3:@ # -935:@23, # A+? # <--, # 453+@2,6 # +;3:,? # 43; # G255-,,2+8 # <:@8 # 52T- # G3/@#
0A253/30A21+5#2?-+/8#+5@A3:6A#@A-7#?2?#/--G#@3#344-;#+#/35:@23,#34#/3;@/#@3#@A-#
0;3<5-G # +@ # A+,?8 # @A-7# ?2?,Q@ # 0;3G2/- # @3 # 63 # +,7# 4+;@A-;8 # @3 # 30-, # :0 # ,-.#
2,9-/@26+@23,/ # 3; # 6-,-;+@- # /:;0;2/2,6 # 0;-?21@23,/ # @A+@ # 13:5? # <- # @-/@-?8 # 3;#
-D05+2,#+,7#4+1@/#@A-7#.-;-,Q@#-D0;-//57#?-/26,-?#@3#-D05+2,=#$A-#-935:@23,#
;-935:@23, # A+? # @3 # .+2@ # :,@25 # EA+;5-/ # U+;.2, # /+. # A3. # @3 # .-+9- # +,#
-935:@23,+;7 # A703@A-/2/ # 2,@3 # +, # -D05+,+@3;7 # 4+<;21 # 13G03/-? # 34 # 52@-;+557#
@A3:/+,?/#34#A+;?F.3,#+,?#34@-,#/:;0;2/2,6#4+1@/#+<3:@#,+@:;-=#U+;.2,#,-2F
@A-; # 2,9-,@-? # @A- # .3,?-;4:5 # 2?-+ # 3:@ # 34 # .A35- # 153@A # +55 # <7# A2G/-548 # ,3;#
:,?-;/@33?#2@#2,#2@/#-,@2;-@7#-9-,#.A-,#A-#A+?#43;G:5+@-?#2@=#a:@#A-#?2?#/:1A#+#
G3,:G-,@+5#N3<#34#15+;2472,6#@A-#2?-+8#+,?#@72,6#2@#?3.,#/3#2@#.3:5?#,-9-;#
+6+2,#453+@#+.+78#@A+@#A-#?-/-;9-/#@A-#1;-?2@#24#+,73,-#?3-/=#$A-#,-D@#1A+0@-;#
;-92-./#A2/#<+/21#+113G052/AG-,@=
E)>I$%e# VM #=$>*/$ ' 02/?1,4 '+ #@81,6A>1/&.@ ' B1$? ' *> ' .:$ ' ",1B$/&$ ' /$13,$6 '
",-:2))$,3$6C ' 2, ' 1,.$))13$,. ' 5*6 ' ?2& ' &$$, ' 2& ' .:$ ' ").1#2.$ ' &*"/-$ ' *> ' 2)) '
0$&13,4'.:$'").1#2.$'2,&?$/'.*'2,7'-:21,'*>'@D:7E@'F"$&.1*,&;'+B$,'02B16
!"#######$%&&#'%#()*
+#,-.#/0-12-/#34#+,+53678#-9-,#2,#3:;#653<-=#>,?#.-;-#@A-;-#+#05+,-@#
.A3557#2,A+<2@-?#<7#/02?-;/#B.A21A#2/#9-;7#03//2<5-C8#@A2/#2,4-;-,1-#.3:5?#
@A-;-#+00-+;#+/#,+@:;+5#+,?#2;;-4;+6+<5-#+/#@A+@#.A21A#2,#3:;#05+,-@#+/1;2<-/#
@A-#3;262,#34#+55#@A2,6/#@3#?-/26,#+,?#2,@-5526-,1-8#+/#-D05+2,-?#<7#E5-+,F
@A-/=#(A7#+,#3;?-;57#/7/@-G#G+7#,3@#<-#/0:,#4;3G#@A-#<-557#+/#.-55#+/#4;3G#
@A-#<;+2,8#2@#.255#<-#?24421:5@#43;#A2G#@3#629-#+#/+@2/4+1@3;7#;-+/3,=#HI@=#JKK=L
E5-+,@A-/#;-/2/@/#@A-/-#3,/5+:6A@/#6+G-578#<:@#IA253#/A3./#4+@+5#45+./#2,#
-9-;7#9-;/23,#34#@A-#+;6:G-,@#@A+@#E5-+,@A-/#1+,#?-92/-=#>@#@A-#9-;7#-,?#34#
@A-#012)*3"$&4'A3.-9-;8#IA253#/:;0;2/-/#:/#<7#+6;--2,6#.2@A#E5-+,@A-/M
===#?2-#5-62@2G+@-#13,15:/23,#2/#@A+@===#24#.-#+;-#,3@#13,@-,@-?#.2@A#1+552,6#
@A-#42;/@#+,?#/:0;-G-#1+:/-#+#5*6'3;#0$1.74'<:@#?-/2;-#@3#9+;7#@A-#-D0;-/F
/23,8#.A+@#1+,#.-#1+55#A2G#<:@ #81,6 '3; #9:*"3:. '@3#.A21A#A-#2/#N:/57#
/:003/-?#@3#<-+;#+#13,/2?-;+<5-#;-/-G<5+,1-O#HI@=#PKK=L
IA253#2/#/:;-57#):G-Q/#G3:@A02-1-#2,#@A-#012)*3"$&;'(A7#?2?#):G-#1+9-#
2,O#R:@#34#4-+;#34#;-0;2/+5#4;3G#@A-#-/@+<52/AG-,@O#S3=#):G-#T,-.#A-#A+?#
/A3.,#@A+@#@A-#>;6:G-,@#4;3G#U-/26,#.+/#+,#2;;-0+;+<57#45+.-?#<;2?6-#<-F
@.--,#/12-,1-#+,?#;-52623,8#+,?#A-#+;;+,6-?#@3#A+9-#:1&'012)*3"$&'0:<52/A-?#
+4@-;#A2/#?-+@A#2,#VWWX#0;-12/-57#2,#3;?-;#@3#/+9-#A2G/-54#4;3G#0-;/-1:@23,=#
)-#1+9-?#2,#<-1+:/- #:$'<"&.'-*")6,%.'1#231,$ '+,7#3@A-;#-D05+,+@23,#34#@A-#
3;262,#34#@A-#G+,24-/@#?-/26,#2,#,+@:;-=#):G-#13:5?#,3@#/--#A3.#@A-#Y1:;23:/#
+?+0@2,6#34#G-+,/#@3#-,?/8#@A;3:6A3:@#+55#,+@:;-Y#13:5?#<-#?:-#@3#1A+,1-Z#
+,?#24#,3@#1A+,1-8#.A+@O
(A+@#13:5?#03//2<57#+113:,@#43;#@A2/#A26AF[:+52@7#?-/26,#24#,3@#+,#2,@-5F
526-,@#\3?O#IA253#2/#3,-#34#@A-#G3/@#2,6-,23:/#+,?#;-/3:;1-4:5#13G0-@2@3;/#2,#
+,7#0A253/30A21+5#?-<+@-8#;-+5#3;#2G+62,+;78#+,?#A-#G+T-/#/3G-#.3,?-;4:5#
/@+</#2,#@A-#?+;T8#A:,@2,6#43;#+,#+5@-;,+@29-=#K,#I+;@#JKKK8#A-#?;-+G/#:0#/3G-#
/0-1:5+@23,/ # @A+@ # 13G- # @+,@+52]2,657 # 153/- # @3 # /13302,6# U+;.2,# B+,? # /3G-#
G3;-#;-1-,@#U+;.2,2+,#-5+<3;+@23,/C#<7#,-+;57#+#1-,@:;7=
K,/@-+?#34#/:003/2,6#G+@@-;#2,42,2@-8#+/#%021:;:/#?2?8#5-@#:/#/:003/-#2@#42,2@-=#
>#42,2@-#,:G<-;#34#0+;@215-/#2/#3,57#/:/1-0@2<5-#34#42,2@-#@;+,/03/2@23,/M#>,?#
2@#G:/@#A+00-,8#2,#+,#-@-;,+5#?:;+@23,8#@A+@#-9-;7#03//2<5-#3;?-;#3;#03/2@23,
G:/@#<-#@;2-?#+,#2,42,2@-#,:G<-;#34#@2G-/^^^^K/#@A-;-#+#/7/@-G8#+,#3;?-;8#+,
-13,3G7#34#@A2,6/8#<7#.A21A#G+@@-;#1+,#0;-/-;9-#@A+@#0-;0-@:+5#+62@+@23,8#
.A21A#/--G/#-//-,@2+5#@3#2@8#+,?#7-@#G+2,@+2,#+#13,/@+,17#2,#@A-#43;G/8#
.A21A#2@#0;3?:1-/O#$A-;-#1-;@+2,57#2/#/:1A#+,#-13,3G7M#_3;#@A2/#2/#+1@:+557#
@A-#1+/-#.2@A#@A-#0;-/-,@#.3;5?=#$A-#13,@2,:+5#G3@23,#34#G+@@-;8#@A-;-F
43;-8#2,#5-//#@A+,#2,42,2@-#@;+,/03/2@23,/8#G:/@#0;3?:1-#@A2/#-13,3G7#3;#
3;?-;`#+,?#<7#2@/#9-;7#,+@:;-8#@A+@#3;?-;8#.A-,#3,1-#-/@+<52/A-?8#/:003;@/#
2@/-548#43;#G+,7#+6-/8#24#,3@#@3#-@-;,2@7=#a:@#.A-;-9-;#G+@@-;#2/#/3#032/-?8#
+;;+,6-?8#+,?#+?N:/@-?#+/#@3#13,@2,:-#2,#0-;0-@:+5#G3@23,8#+,?#7-@#0;-F
!"#$%&'()*&$'+,-*",.$/'''''''!!
/-;9-#+#13,/@+,17#2,#@A-#43;G/8#2@/#/2@:+@23,#G:/@8#34#,-1-//2@78#A+9-#+55#@A/+G-#+00-+;+,1-#34#+;@#+,?#13,@;29+,1-#.A21A#.-#3</-;9-#+@#0;-/-,@^^^^
>#?-4-1@#2,#+,7#34#@A-/-#0+;@21:5+;/#?-/@;37/#@A-#43;G`#+,?#@A-#G+@@-;8#34#
.A21A#2@#2/#13G03/-?8#2/#+6+2,#/-@#533/-8#+,?#2/#@A;3.,#2,@3#2;;-6:5+;
G3@23,/#+,?#4-;G-,@+@23,/8#@255#2@#:,2@-#2@/-54#@3#/3G-#3@A-;#;-6:5+;#43;G^^^^
b:003/-#===#@A+@#G+@@-;#.-;-#@A;3.,#2,@3#+,7#03/2@23,8#<7#+#<52,?8#:,F
6:2?-?#43;1-`#2@#2/#-92?-,@#@A+@#@A2/#42;/@#03/2@23,#G:/@#2,#+55#0;3<+<252@7#<-#
@A-#G3/@#13,4:/-?#+,?#G3/@#?2/3;?-;57#2G+62,+<5-8#.2@A3:@#+,7#;-/-GF
<5+,1-#@3#@A3/-#.3;T/#34#A:G+,#13,@;29+,1-8#.A21A8#+53,6#.2@A#+#/7GG-F
@;7#34#0+;@/8#?2/139-;#+,#+?N:/@G-,@#34#G-+,/#@3#-,?/#+,?#+#@-,?-,17#@3
/-54F0;-/-;9+@23,^^^b:003/-8#@A+@#@A-#+1@:+@2,6#43;1-8#.A+@-9-;#2@#<-8#/@255
13,@2,:-/#2,#G+@@-;^^^^$A:/#@A-#:,29-;/-#63-/#3,#43;#G+,7#+6-/#2,#+
13,@2,:-?#/:11-//23,#34#1A+3/#+,?#?2/3;?-;=#a:@#2/#2@#,3@#03//2<5-#@A+@#2@#
G+7#/-@@5-#+@#5+/@===#O#'+7#.-#,3@#A30-#43;#/:1A#+#03/2@23,8#3;#;+@A-;#<-#
+//:;-?#34#2@8#4;3G#@A-#-@-;,+5#;-935:@23,/#34#:,6:2?-?#G+@@-;8#+,?#G+7#,3@#
@A2/#+113:,@#43;#+55#@A-#+00-+;2,6#.2/?3G#+,?#13,@;29+,1-#.A21A#2/#2,#@A-#
:,29-;/-O
)GG8#2@#/--G/#@A+@#/3G-@A2,6#52T-#@A2/#G26A@#.3;T===#<:@#):G-#13:5?,Q@#
[:2@-#@+T-#IA253Q/#?+;2,6#43;+7#/-;23:/57=#)2/#42,+5#9-;?21@M#Y>#@3@+5#/:/0-,/-#
34#N:?6G-,@#2/#A-;-#3:;#3,57#;-+/3,+<5-#;-/3:;1-Y#BI@=#JKKKC=#>#4-.#7-+;/#
<-43;-#A2G8#U-,2/#U2?-;3@#A+?#+5/3#.;2@@-,#/3G-#/0-1:5+@23,/#@A+@#@+,@+52]F
2,657#43;-/A+?3.-?#U+;.2,M#YK#1+,#G+2,@+2,#@3#73:#===#@A+@#G3,/@-;/#+,,2F
A25+@-? # 3,- # +,3@A-; # 2, # /:11-//23,` # @A+@ # +55 # @A- # ?-4-1@29- # 13G<2,+@23,/ # 34#
G+@@-;#A+9-#?2/+00-+;-?8#+,?#@A+@#@A-;-#A+9-#3,57#/:;929-?#@A3/-#2,#.A21A#@A-#
3;6+,2]+@23,#?2?#,3@#2,9359-#+,7#2G03;@+,@#13,@;+?21@23,8#+,?#.A21A#13:5?#
/:</2/@#<7#@A-G/-59-/#+,?#0-;0-@:+@-#@A-G/-59-/Y#BU2?-;3@#VWcdC=#E:@-#2?-+/#
+<3:@ # -935:@23, # A+? # <--, # 453+@2,6 # +;3:,? # 43; # G255-,,2+8 # <:@8 # 52T- # G3/@#
0A253/30A21+5#2?-+/8#+5@A3:6A#@A-7#?2?#/--G#@3#344-;#+#/35:@23,#34#/3;@/#@3#@A-#
0;3<5-G # +@ # A+,?8 # @A-7# ?2?,Q@ # 0;3G2/- # @3 # 63 # +,7# 4+;@A-;8 # @3 # 30-, # :0 # ,-.#
2,9-/@26+@23,/ # 3; # 6-,-;+@- # /:;0;2/2,6 # 0;-?21@23,/ # @A+@ # 13:5? # <- # @-/@-?8 # 3;#
-D05+2,#+,7#4+1@/#@A-7#.-;-,Q@#-D0;-//57#?-/26,-?#@3#-D05+2,=#$A-#-935:@23,#
;-935:@23, # A+? # @3 # .+2@ # :,@25 # EA+;5-/ # U+;.2, # /+. # A3. # @3 # .-+9- # +,#
-935:@23,+;7 # A703@A-/2/ # 2,@3 # +, # -D05+,+@3;7 # 4+<;21 # 13G03/-? # 34 # 52@-;+557#
@A3:/+,?/#34#A+;?F.3,#+,?#34@-,#/:;0;2/2,6#4+1@/#+<3:@#,+@:;-=#U+;.2,#,-2F
@A-; # 2,9-,@-? # @A- # .3,?-;4:5 # 2?-+ # 3:@ # 34 # .A35- # 153@A # +55 # <7# A2G/-548 # ,3;#
:,?-;/@33?#2@#2,#2@/#-,@2;-@7#-9-,#.A-,#A-#A+?#43;G:5+@-?#2@=#a:@#A-#?2?#/:1A#+#
G3,:G-,@+5#N3<#34#15+;2472,6#@A-#2?-+8#+,?#@72,6#2@#?3.,#/3#2@#.3:5?#,-9-;#
+6+2,#453+@#+.+78#@A+@#A-#?-/-;9-/#@A-#1;-?2@#24#+,73,-#?3-/=#$A-#,-D@#1A+0@-;#
;-92-./#A2/#<+/21#+113G052/AG-,@=
E)>I$%e# VM #=$>*/$ ' 02/?1,4 '+ #@81,6A>1/&.@ ' B1$? ' *> ' .:$ ' ",1B$/&$ ' /$13,$6 '
",-:2))$,3$6C ' 2, ' 1,.$))13$,. ' 5*6 ' ?2& ' &$$, ' 2& ' .:$ ' ").1#2.$ ' &*"/-$ ' *> ' 2)) '
0$&13,4'.:$'").1#2.$'2,&?$/'.*'2,7'-:21,'*>'@D:7E@'F"$&.1*,&;'+B$,'02B16
!"#######$%&&#'%#()*
!"#$%&'()&*$+,-.&$/0)1$*&,($&231)-"4-$&05)4-$#1&'2,(&,(21&6212)3%&73*&(7* &
8-2#01$1&)+&,($&975'23273&7-,$537,26$%&:)"-*&3),&1$$&()'&,)&,7;$&2,&1$52)"1-.<
+),-$%.#/0#975'23%&1$,,238&)",&,)&731'$5&7&5$-7,26$-.&#)*$1,&="$1,2)3&74)",&
*2$ & )52823 & )+ & 10$:2$1% & *$1:524$* & 7 & 05):$11 & ($ & :7--$* & 37,"57- & 1$-$:,2)3% & 7 &
#23*-$11%&0"50)1$-$11%&#$:(732:7-&05):$11<&>(21&,"531&)",&,)&4$&,($&1$$*&)+ &
73 & 731'$5 & ,) & 7 & #":( & 8573*$5 & ="$1,2)3? & ()' & *)$1 & 9$1283 & :)#$ & 23,) &
$/21,$3:$@
+),-$%.#$(1
A3&B*$7&B1 &
C)53
23#(),$#45#51#5-%+4,&#,617$#5-%+4%58
+9:;<=> # ?:;@AB # CAC # BDE # >=E # DFE # ED # GDBGDGE # :B # :BEACDE= # ED # HD9B # &DGI=J>#
GDBG=KEF:<#K:;:<L>A>M#D;#ED#KAB#CD@B#E9=#N;:BC#GD>OD<DNAG:<#:<E=;B:EAP=#E9:E#
9:C#Q:;=<L#=<FC=C#)FO=3#1BG=#9A>#N;=:E#AC=:#DGGF;;=C#ED#9AOM#9=#>:@#E9:E#AE#
@DF<C#ABC==C#9:P=#E9=>=#E;F<L#;=PD<FEADB:;L#GDB>=RF=BG=>M#QFE#:E#E9=#DFE>=E#
9=#@:>#BDE#E;LABN#ED#=SK<:AB#E9=#O=:BABN#DT#<AT=M#D;#=P=B#AE>#D;ANAB3#)A>#:AO#
@:>#><AN9E<L#OD;=#ODC=>E0#9=#@:BE=C#ED#=SK<:AB#E9=#D;ANAB#DT#10$:2$1<
4B#9A>#C:LM#B:EF;:<A>E>#9:C#:O:>>=C#ODFBE:AB>#DT#E:BE:<AUABN#T:GE>#:QDFE#
<APABN#E9ABN>#:BC#9:C#>FGG==C=C#AB#>L>E=O:EAUABN#E9=>=#T:GE>#:<DBN#>=P=;:<#
CAO=B>ADB>3#$@D#N;=:E#>DF;G=>#DT#@DBC=;#=O=;N=C#T;DO#E9A>#@D;I#V':L;#
2WX/Y3#ZA;>EM#E9=;=#@=;=#:<<#E9=#CA>GDP=;A=>#:QDFE#E9= #7*70,7,2)31 &DT#D;N:B[
A>O>#E9:E#9:C#=BE9;:<<=C#)FO=J>#+<=:BE9=>0#\,<<#E9=>=#P:;ADF>#O:G9AB=>M#:BC#
=P=B#E9=A;#OD>E#OABFE=#K:;E>M#:;=#:C]F>E=C#ED#=:G9#DE9=;#@AE9#:B#:GGF;:GL#
@9AG9#;:PA>9=>#ABED#:COA;:EADB#:<<#O=B#@9D#9:P=#=P=;#GDBE=OK<:E=C#E9=O\#
V-E3#44Y3 #5=GDBCM#E9=;=#@:> #E9=#K;D<ATAG #*26$512,. &DT#<APABN#E9ABN>^<AE=;:<<L#
OA<<ADB>#DT#CATT=;=BE#IABC>#DT#K<:BE>#:BC#:BAO:<>3#(9L#@=;=#E9=;=#>D#O:BL8
$9A>#CAP=;>AEL#DT#C=>ANB#DT#D;N:BA>O>#@:>#:>#>E;AIABNM#AB#>DO=#;=N:;C>M#:>#
E9=A; # =SG=<<=BG=# DT #C=>ANBM#:BC # =P=B# OD;= #>E;AIABN# @=;= #E9= # K:EE=;B> #CA>[
G=;BAQ<= # @AE9AB #E9:E #CAP=;>AEL3 #$9DF>:BC> #DT# N;:C:EADB> #:BC # P:;A:EADB># Q=[
E@==B#D;N:BA>O>#GDF<C#Q=#DQ>=;P=CM#QFE#E9=;=#@=;=#:<>D#9FN=#N:K>#Q=E@==B#
E9=O3#$9=;=#@=;=#QA;C>#:BC#O:OO:<>#E9:E#>@:O#<AI=#TA>9M#QFE#BDB=#@AE9#
NA<<>_#E9=;=#@=;=#CDN>#DT#O:BL#>AU=>#:BC#>9:K=>M#QFE#BD#CDNG:E>#D;#CDNGD@>#
D;#T=:E9=;=C#CDN>3#$9=#K:EE=;B>#G:<<=C#DFE#TD;#G<:>>ATAG:EADBM#:BC#QL#?:;@ABJ>#
EAO=#E9=#@D;I#DT#E9=#N;=:E#E:SDBDOA>E>#V@9D#Q=N:B#QL#:CDKEABN#:BC#GD;[
;=GEABN#,;A>EDE<=J>#:BGA=BE#G<:>>ATAG:EADB>Y#9:C#G;=:E=C#:#C=E:A<=C#9A=;:;G9L#DT#
E@D#IABNCDO>#VK<:BE>#:BC#:BAO:<>YM#CAPAC=C#ABED#K9L<:M#@9AG9#CAPAC=C#ABED#
G<:>>=>M # @9AG9 # CAPAC=C # ABED # D;C=;>M # @9AG9 # CAPAC=C # ABED # T:OA<A=>M # @9AG9#
CAPAC=C#ABED#N=B=;:#VE9=#K<F;:<#DT#\N=BF>\YM#@9AG9#CAPAC=C#ABED#>K=GA=>3

Similar documents

competition 3!

competition 3! FPOGBQ?RQ)2A?2HFRA@) FPOGBQ?RQ)2A?2HFRA@)SQ%(&/&'C%T)

More information