!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
!
"#"$%!&'!(!)*%+,*#)"#-.
,/01234!5
6%.%*7$!)*-&#+#-.+
%
!"#$%&'( ))*+,( -.( /"'0%"$/#$123( 12'( 4%56$"'0( 172'"08$/(
429(1#8'"("'4&("$:8#0(#8"16:8(#8'(&4/0'(1;(#$<'($2(#8'(<422'"(
429(629'"(#8'(%129$#$120(&4$9(9172(=.(&47,
%
>2(#8'(04<'(74.3("$:8#0(429(4%#$120(4"'(&10#(=.(/"'0%"$/?
#$12,(
@ABBCDEF
G)H( I'!(2$#$12(1;(J"'0%"$/#$12
(
!
"#$%&#'()'*+%01%2%3456%47%289:0;0<=%>4;%?410<=@%4A<6;1B0C%
2<5%4DB6;%;62?%;0=BD1%DB;:%DB6%?2C16%47%D036%0<%DB6%32<<6;%2<5%
:<56;%DB6%84<50D04<1%?205%54A<%EF%?2AG%<236?FG%DB2D%DB6%C41161H
104<%1B4:?5%E6I
>2@% 0<%DB6%84<86CD%47%2<%4A<6;
>E@% C:E?08
>8@%
C62867:?
>5@% :<0<D6;;:CD65J%,-#)%.!//012!///32!4'5'6!4*7$8.
>6@% 25K6;16J%"<%4;56;%DB2D%2%C41161104<%32F%;62??F%E6%25K6;16G%
DB6% 8?2032<D% 3:1D% 8?62;?FG% 56!%<0D6?FG% 2<5% :<69:0K482??F%
<4D07F%DB6%4A<6;%47%B01%>DB6%8?2032<DL1@%0<D6<D04<%D4%2K6;D%
2<%6M8?:10K6%4A<6;1B0C%0<%B0316?7J%,46$+7$+'+!5.!46$+7$+'+2!
/3/! 9.4.! :1;! <+7! ='#$&)*#! *>! ?<+7%! 5.! -@'$#)<%2! 4-ABC!
D/AC2!E<#.!/F2!/D:G2!::!H.B.!DIF8J
/
%
S;DJ%//TU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GKH( J"11;(D''9'9
%
%
O682:16%C;618;0CD04<%01%2<%$J)#<*#7'+<#K!3456%47%289:0;0<=%
4A<6;1B0CG%2??%DB6%6116<D02?%0<=;6506<D1G%C2;D08:?2;?F%DB6%($#'*7!
47% D036G% 3:1D% E6% 1B4A<% 8?62;?FJ% ,L*K*! 5.! E<M<@$+)<2! 4-ABC!
GD:/AC2!9*5.!I:2!/D;I8.
GLH( M'40120(1"(-40'0(;1"(J"'0%"$/#$12
>2@% N&*+*O'&!+$&$%%')K!>4DB6;A016G%C;4C6;DF%;0=BD1%A4:?5%;6H
320<%:<1D2E?6@J
(
(
I$"'%#1"(1;(N42903('#(4&,(O,(P62#$&&4"3('#(4&,
QM(+RSLL3(B4.(KL3()TR+
!
!
P-4QRS%PB6;6%DB6%?2<5%14:=BD%D4%E6%;6=01D6;65%A21%
568?2;65%2?06<2E?6%2<5%501C412E?6%QQ%F62;1%2=4G%2<5%01%<4%
?4<=6;%2%74;61D%?2<5G%2<5%DB6%1236%B21%E66<%C41161165%2<5%
8:?D0K2D65%EF%DB6%2CC?082<D1%2<5%DB60;%C;65686114;1%74;%2D%
?621D%DB;66%=6<6;2D04<1J
%
!
TN?=S% *B6% 2DD63CD1% 47% B:3E?6% C64C?6% D4% B2K6%
501C412E?6% ?2<51% DB6F% B2K6% E66<% D0??0<=% 74;% =6<6;2D04<1%
D0D?65%0<%DB60;%<2361%1B4:?5%<4D%4<?F%E6%K06A65%A0DB%2<%
:<56;1D2<50<=%2DD0D:56%E:D%1B4:?5G%21%2%32DD6;%47%C4?08FG%
E6%6<84:;2=65J
>E@% P#$$7*O!>#*O!UV7'&'<6!W<#<%%O$+)%>4882104<65%EF%8?2031%
A0DB4:D%E2101@J
>8@% 4*+5$+'$+&$!'+!(#*&$7V#<6!O<))$#%!>0<%86;D20<%0<1D2<861G%
R:;05082?%C;447%01%501C6<165%A0DB@J
>5@% "#$%VO$7!<@<+7*+O$+)!*#!X<'5$#!>0<%K06A%47%DB6%4A<6;L1%
0<50776;6<86%4;%0<28D04<@J
GUH( @&400$!(%4#$12(1;(J"'0%"$/#$12
>2@% 21%D4%AB6DB6;%;0=BD1%2;6%289:0;65%4;%?41DI
/@%
<&YV'%')'5$! (#$%&#'()'*+! >C;618;0CD04<% 47% 4A<6;1B0C%
2<5%4DB6;%;62?%;0=BD1@J
2@%
4;50<2;F%C;618;0CD04<
E@%
6MD;24;50<2;F%C;618;0CD04<
N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
N@%
S;DJ%//TU
$J)'+&)'5$!(#$%&#'()'*+!>V?0E6;2D4;F%C;618;0CD04<WLL%C;6H
18;0CD04<%47%28D04<1@W%>V.D2D:D6%47%$030D2D04<1LL@J
>E@% 21%D4%DB6%4ER68D%4;%1:ER68D%32DD6;I
%
/@%
N@%
C;618;0CD04<%47%C;4C6;DF
2@%
C;618;0CD04<%47%#$<6%C;4C6;DF
E@%
C;618;0CD04<%47%($#%*+<6!;0=BD1
C;618;0CD04<%47%;0=BD1
GSH( N4%8'0
%
!
?<&W$%%>4;%V61D4CC6?%EF%?28B61X@%01%:<;6214<2E?6%56?2F%0<%DB6%
E;0<=0<=%47%2%82:16%47%28D04<%E674;6%DB6%84:;D1%47%R:1D086J%*B:1G%07%
2<%28D04<%C;618;0E61%12F%0<%D6<%>/T@%F62;1G%0D%1B4:?5%E6%E;4:=BD%
D4%84:;D%21%144<%21%C4110E?6G%A0DB4:D%A20D0<=%74;%Y%4;%Z%F62;1G%
:<?611%DB6%56?2F%82<%E6%R:1D0!%2E?F%6MC?20<65%>21%AB6<%DB6;6%01%
2%162;8B%74;%6K056<86@J%-4D6%DB6;674;6G%DB2D%AB0?6%2<%28D04<%B21%
<4D%F6D%C;618;0E65G%0D%32F%<4%?4<=6;%E6%E;4:=BD%D4%84:;D%E682:16%
47%?28B61J
%
%
S1% 56!%<65% EF% DB6% .:C;636% !4:;DG% V?28B61% 01% 720?:;6% 4;%
<6=?68DG%74;%2<%:<;6214<2E?6%2<5%:<6MC?20<65%?6<=DB%47%D036G%
D4%54%DB2D%AB08BG%EF%6M6;8010<=%5:6%50?0=6<86G%84:?5%4;%1B4:?5%
B2K6%E66<%54<6%62;?06;W%0D%01%<6=?0=6<86%4;%4301104<%D4%2116;D%2%
;0=BD%A0DB0<%2%;6214<2E?6%D036G%A2;;2<D0<=%2%C;61:3CD04<%DB2D%
DB6%C2;DF%6<D0D?65%DB6;6D4%60DB6;%B21%2E2<54<65%0D%4;%568?0<65%D4%
2116;D%0DJ%+4A6K6;G%84:;D1%A0??%<4D%E6%E4:<5%EF%1D;08D:;61%47%DB6%
1D2D:D6%47%?030D2D04<1%4;%?28B61%AB6<%32<0761D%A;4<=%4;%0<R:;061%
A4:?5%;61:?D%DB6;6EFJX%,4#'%)*@<6!5.!E$6&W*#2!G3!R4C-!/G;8.
(
(
!""494V43('#(4&,(O,(@!(W(N4""4V4=4&
QM(S*UKK3(P'=,(R3()TRT
%
%
*B6%C;0<80C?6%47%?28B61%01%2%8;62D04<%47%69:0DFJ%"D%01%2CC?065G%
<4D%;62??F%D4%C6<2?0[6%<6=?68D%4;%1?66C0<=%:C4<%4<6L1%;0=BDG%E:D%
;2DB6;%D4%2K405%;684=<0[0<=%2%;0=BD%AB6<%D4%54%14%A4:?5%;61:?D%
0<%2%8?62;?F%0<69:0D2E?6%10D:2D04<J
G+H( M4#$124&'(;1"(N4%8'0
%
%
"7%2%C6;14<%720?1%D4%28D%21%144<%21%C4110E?6%0<%K0<5082D04<%
47%2<%2??6=65%;0=BDG%0D%01%C4110E?6%DB2D%DB6%;0=BD%5461%<4D%;62??F%
6M01DJ
Q
%
S;DJ%//TU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GXH( YJ"'0%"$/#$12Z(I$0#$2:6$08'9(;"1<(YN4%8'0Z
(
(
B4/4(>>>(O,(Q642V12
XX([@M!(LRX
%
%
PB0?6%C;618;0CD04<%01%84<86;<65%A0DB%DB6%)S!*%47%56?2FG%
?28B61%562?1%A0DB%DB6%())(!*%47%V+#$<%*+<@6$!56?2FJ
(
(
I4O$9(O,(-429$2
QM(URLKK3(!/",(R3()TRX
%
!
P-4QRS!-%2<5%LG%B:1E2<5%2<5%A076G%5065%0<D61D2D6G%?62K0<=%
DA4%8B0?5;6<G%Z%2<5%[.!Z%B25%E66<%2530<01D6;0<=%DB6%C;4C6;DF%
:<D0?%B6;%562DB%0<%)6EJ%/]G%/Z]]J%,?20<D0771G%DB6%8B0?5;6<%47%[2!
A6;6% =0K6<% DB60;% 1B2;61% 47% DB6% 7;:0D1% 47% DB6% C;4C6;DFG% DB4:=B%
0;;6=:?2;%2<5%2D%D0361%?0DD?6G%56C6<50<=%4<%DB6%234:<D%47%DB6%
B2;K61DJ%&<%SC;0?%NQG%/ZUQG%C?20<D0771G%DB6%8B0?5;6<%47%[2%16<D%2%
?6DD6;%47%5632<5%D4%DB6%B60;1%47%Z!74;%C2;D0D04<G%2<5%4<%^:<6%/\G%
/ZUQG%4;%A0DB0<%2%C6;045%47%2CC;4M032D6?F%Y%F62;1%7;43%Z\%!562DBG%
!%?65%DB60;%843C?20<D%2=20<1D%Z\%!B60;1J
%
!
TN?=S% ,?20<D0771% 82<<4D% E6% B6?5% =:0?DF% 47% ?28B61G% <4;% 01%
DB60;%8?203%E2;;65%EF%C;618;0CD04<J%,?20<D0771%A6;6%<4D%=:0?DF%47%
<6=?0=6<86%<4;%505%DB6F%1?66C%4<%DB60;%;0=BD1J
%
%
,;618;0CD04<%=6<6;2??F%5461%<4D%;:<%0<%72K4;%47%2%84HB60;%4;%
84H4A<6;%21%?4<=%21%B6%6MC;611?F%4;%03C?065?F%;684=<0[61%DB6%84H
4A<6;1B0CJ%PB0?6%03C?065%4;%84<1D;:8D0K6%D;:1D%C;618;0E61%0<%/T%
F62;1G%DB6%;:?6%5461%<4D%2CC?F%AB6;6%2%!%5:802;F%;6?2D04<%6M01D1%
2<5%DB6%D;:1D66%;684=<0[61%DB6%D;:1DJ
(
(
Q4&&4"91(O,(>2#'"<'9$4#'(!//'&&4#'(@16"#
QM(+XXUK3(A%#,(KT3()TRX
%
%
"<%56D6;30<0<=%AB6DB6;%2%56?2F%0<%166_0<=%D4%6<74;86%2%;0=BD%
84<1D0D:D61%?28B61G%DB6%6M01D6<86%47%2%84<!%56<D02?%;6?2D04<1B0C%
E6DA66<%DB6%C2;D061%01%2<%03C4;D2<D%80;8:31D2<86%74;%84<1056;2H
D04<J%S%56?2F%:<56;%1:8B%80;8:31D2<86%01%<4D%21%1D;08D?F%;6=2;565%
21%AB6;6%DB6%C2;D061%2;6%1D;2<=6;1%D4%628B%4DB6;J%*B6%548D;0<6%
47%?28B61%01%<4D%1D;08D?F%2CC?065%E6DA66<%<62;%;6?2D0K61G%2<5%DB6%
728D%DB2D%C2;D061%2;6%84<<68D65%EF%D061%47%E?445%4;%32;;02=6%D6<51%
D4%6M8:16%2<%4DB6;A016%:<;6214<2E?6%56?2FJ
\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//TU
(
(
(
D4"%$01(-6'24O'2#6"4(W(B4"$4(-6'24O'2#6"4
O,(@!(W(B421#1\(M'4&#.3(>2%,
QM(S*RLX3(I'%,(KR3()TTK
%
%
*B6%5676<16%47%?28B61%2CC?061%0<56C6<56<D?F%47%C;618;0CD04<J%
$28B61%01%50776;6<D%7;43%DB6%1D2D:D6%47%?030D2D04<1J%,;618;0CD04<%
01%84<86;<65%A0DB%DB6%><&)!47%56?2FG%AB6;621%?28B61%01%84<86;<65%
A0DB%DB6%$>>$&)!47%56?2FJ%,;618;0CD04<%01%2%32DD6;%47%D036W%?28B61%
01%C;0<80C2??F%2%9:61D04<%47%0<69:0DF%47%C6;30DD0<=%2%8?203%D4%E6%
6<74;865G%DB01%0<69:0DF%E60<=%74:<565%4<%DB6%1236%8B2<=6%0<%DB6%
84<50D04<%47%DB6%C;4C6;DF%4;%DB6%;6?2D04<%47%DB6%C2;D061J%,;618;0CH
D04<%01%1D2D:D4;FW%?28B61%01%<4DJ%$28B61%2CC?061%0<%69:0DFG%AB6;621%
C;618;0CD04<%2CC?061%2D%?2AJ%,;618;0CD04<%01%E2165%4<%!%M65%D036W%
?28B61%01%<4DJ
GRH( @120#$#6#$124&(J"1O$0$12
%
%
*B6% ;0=BD% 47% DB6% .D2D6% D4% ;684K6;% C;4C6;D061% :<?2A7:??F%
289:0;65% EF% C:E?08% 47!%802?1% 4;% 63C?4F661G% 7;43% DB63% 4;% 7;43%
DB60;%<430<661%4;%D;2<176;661G%1B2??%<4D%E6%E2;;65%EF%C;618;0CH
D04<G%?28B61G%4;%61D4CC6?J%,R$&.!/;2!-#).!Z]2!QW$!/D3G!"W'6'(('+$!
4*+%)')V)'*+8.
GTH( @40'0
(
(
M'/6=&$%(O,(!2$<40
S+([@M!(RX)
%
%
,;618;0CD04<%5461%<4D%;:<%2=20<1D%DB6%.D2D6G%61C6802??F%E6H
82:16%DB6%;684K6;F%47%:<?2A7:??F%289:0;65%C;4C6;D061%B21%E68436%
2%.D2D6%C4?08FJ
(
(
(
!&91O$21(O,(!&6242(>>>
UT([@!I(LU*
G)TTUH
%
%
,;618;0CD04<%3:1D%F06?5%D4%DB6%B0=B6;%0<D6;61D%47%R:1D086J
(
(
P"42%$0%1(O,(@!
)KK([@M!(SLR
%
%
,B0?0CC0<6%R:;01C;:56<86%1B4A1%DB2D%DB6%!%?0<=%47%DB6%843H
C?20<DG%6K6<%07%36;6?F%74;%C:;C4161%47%C;6?030<2;F%6M230<2D04<%
]
%
S;DJ%//TU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
4;% 0<K61D0=2D04<G% 1:1C6<51% 2<5% 0<D6;;:CD1% DB6% ;:<<0<=% 47% DB6%
C;618;0CD0K6%C6;045J
G)*H( J"'0%"$/#$O'(J'"$19(12(M':$0#'"'9(N429(%1O'"'9(=.(E1"?
"'20([.0#'<
(
(
(
]6$"$21(B4#'1(W(B4#$40(O,
I1"1#'4(I$4V3('#(4&,
QM()LXL*S3(^42,()X3(K**K
%
!
P-4QRS% *B6% ?2<5% 0<K4?K65% 01% ;6=01D6;65% :<56;% DB6% *4;H
;6<1% 1F1D63% 0<% DB6% <236% 47% C6D0D04<6;1L% 72DB6;% !?2;4% `2D64J%
*B6;6%01%<4%9:61D04<%;20165%A0DB%;61C68D%D4%DB6%K2?050DF%47%DB6%
D0D?6J%"336502D6?F%27D6;%C6D0D04<6;1%50184K6;65%DB6%6M01D6<86%47%
&!*%NTU%0<%/Zaa%4;%/ZaYG%DB6F%D44_%1D6C1%D4%2116;D%DB60;%;0=BD1%
DB6;6D4J%*B6F%50K0565%DB6%?2<5%E6DA66<%DB6%DA4%47%DB63%0<%2<%
6MD;2R:50802?%C2;D0D04<J%*B6<%C6D0D04<6;1%!%?65%DB6%8216%E6?4A%D4%
;684K6;%4A<6;1B0C%2<5%C41161104<%21%DB6%4<?F%1:;K0K0<=%8B0?5;6<%
47%4;0=0<2?%4A<6;1G%DB6%?2D6%!?2;4%`2D64J
%
%
*B6%b6=04<2?%*;02?%!4:;D%>b*!@G%O:?282<G%2D%`2?4?41G%;:?65%
DB2D%C;618;0CD04<%2<5%?28B61%2;6%2CC?082E?6%2=20<1D%C6D0D04<6;1G%
DB2D%;62?%28D04<1%4K6;%2<%0334K2E?6%C;618;0E6%27D6;%QT%F62;1G%
DB2D%4A<6;1B0C%82<%E6%289:0;65%DB;:%C41161104<%0<%=445%720DB%
2<5%A0DB%R:1D%D0D?6%74;%2%C6;045%47%/T%F62;1G%2<5%DB2D%4A<6;1B0C%
32F%E6%289:0;65%DB;:%:<0<D6;;:CD65%25K6;16%C41161104<%74;%QT%
F62;1%A0DB4:D%<665%47%R:1D%D0D?6%4;%47%=445%720DBJ%*B6%!4:;D%47%
SCC62?1%>!S@%27!%;365%DB2D%47%DB6%D;02?%84:;DG%DB:1G%DB01%($)')'*+!
>*#!#$5'$X!*+!&$#)'*#<#'.
%
!
]RR^NS! PB6DB6;% 4;% <4D% DB6% 69:0D2E?6% 548D;0<6% 47% ?28B61%
32F%4K6;;056%2%C;4K0104<%47%DB6%$2<5%b6=01D;2D04<%S8D%4<%03C;6H
18;0CD0E0?0DF%47%D0D?6%D4%;6=01D6;65%?2<5J%&DB6;A016%C:DG%DB6%011:6%
;20165% 01% AB6DB6;% C;618;0CD04<% 2<5% DB6% 69:0D2E?6% (#'+&'(6$! *>!
6<&W$%%2;6%2CC?082E?6%0<%56;4=2D04<%47%DB6%D0D?6%47%DB6%;6=01D6;65%
4A<6;J
%
!
TN?=S%S%C2;DF%AB4%B25%!%?65%0336502D6?F%2%8216%21%144<%
21% B6% 50184K6;65% DB2D% DB6% ?2<5% 0<% 9:61D04<% A21% 84K6;65% EF% 2%
D;2<176;%86;D0!%82D6%0<%DB6%<236%47%2<4DB6;%C6;14<%01%<4D%=:0?DF%
47%?28B61J%,R).!"$)$#!E$O*#'<6!"<#M2!]+&.!5.!46$*><%2!DI!R4C-!
F3D!_/DGD`8.!S<%28D04<%D4%;684K6;%C41161104<%47%2%;6=01D6;65%?2<5%
<6K6;%C;618;0E6%0<%K06A%47%DB6%C;4K0104<%47%.68J%\\%47%S8D%\ZU%><4A%
U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//TU
.68J%\a%47%,'%/]NZ@%D4%DB6%67768D%DB2D%<4%D0D?6%D4%;6=01D6;65%?2<5%
0<% 56;4=2D04<% D4% DB2D% 47% 2% ;6=01D6;65% 4A<6;% 1B2??% E6% 289:0;65%
EF% C;618;0CD04<% 4;% 25K6;16% C41161104<J% ,a.E.! QV<%*+! b! 4*.! 5.!
-YV'##$2!G!R4C-!/0D!_/D1F`8.
%
%
"<%728DG%DB6;6%01%2%B41D%47%R:;01C;:56<86%DB2D%B4?5%DB2D%C;6H
18;0CD04<%2<5%?28B61%84:?5%<4D%2CC?F%D4%;6=01D6;65%?2<5%84K6;65%EF%
DB6%*4;;6<1%1F1D63J%,L'%W*(!5.!4-2!I03!R4C-!1F1!_/DDI`!2<5!R).!
"$)$#!E$O*#'<6!"<#M2!]+&.!5.!46$*><%2!%V(#<8J%P0DB%34;6%;6214<%
2;6%DB616%C;0<80C?61%2CC?082E?6%D4%?28B61G%AB08B%01%2<%69:0D2E?6%
C;0<80C?6J%$28B61%32F%<4D%C;6K20?%2=20<1D%2%1C680!%8%C;4K0104<%47%
?2AG%10<86%$YV')KG%AB08B%B21%E66<%56!%<65%21%VR:1D086%4:D1056%?6H
=2?0DFX%01%2CC?065%0<%DB6%4E186<6%47%2<5%<4D%2=20<1D%1D2D:D4;F%?2A%
4;%;:?61%47%C;4865:;6J%,4<V%<('+!5.!4-2!IFF!R4C-!1/;!_/DD:`8.
%
%
cC4<%DB6%4DB6;%B2<5G%DB6%B60;1%47%DB6%;6=01D6;65%4A<6;%2;6%
<4D%61D4CC65%7;43%8?2030<=%DB60;%72DB6;L1%C;4C6;DFG%10<86%DB6F%
36;6?F%1D6CC65%0<D4%DB6%1B461%47%DB6%C;6K04:1%4A<6;1J%,;618;0CH
D04<% 01% :<2K20?0<=% <4D% 4<?F% 2=20<1D% DB6% ;6=01D6;65% 4A<6;G% E:D%
2?14%2=20<1D%B01%B6;650D2;F%1:886114;1%E682:16%DB6%?2DD6;%36;6?F%
1D6C%0<D4%DB6%1B461%47%DB6%568656<D%EF%4C6;2D04<%47%?2A%2<5%2;6%
36;6?F%DB6%84<D0<:2D04<%47%DB6%C6;14<2?0DF%47%DB60;%C;65686114;H
0<H0<D6;61DJ%,Q$*!!6<!7$!BV'+**!5.!4-!_DG!"W'6.!IF;`!<+7!B'6!-)V+!
5.!NV%$@'*!9Vc$d!_DG!"W'6.!G1I`8.
%
%
*B6%!S%6;;65%0<%4;56;0<=%DB6%b6=01D6;%47%'6651%D4%82<86?%
&!*%NTU%47%!?2;4%`2D64%2<5%011:6%<6A%D0D?61%D4%DB416%AB4%2;6%
488:CF0<=%DB6%1:ER68D%?2<5J%*B01%K04?2D61%DB6%0<5676210E0?0DF%47%
2%*4;;6<1%D0D?6J%*B6%D0D?6%47%!?2;4%`2D64%84:?5%E6%82<86??65%4<?F%
07%DB6;6%01%843C6D6<D%C;447%DB2D%B6%B25%D;2<176;;65%B01%;0=BD1%
4K6;%DB6%C2;86?%47%?2<5%D4%2<4DB6;%C2;DFG%4DB6;A016%D0D?6%A4:?5%
C211%D4%B01%B60;1%4<?F%EF%D61D2D6%4;%0<D61D2D6%1:8861104<J
%
%
*B6!><66*S!*B6%.:C;636%!4:;D%DB6;6:C4<%;6K6;161%DB6%!SL1%
5680104<J%"<%?06:%DB6;647G%DB6%!4:;D%;632<51%DB6%8216%D4%DB6%D;02?%
84:;D%74;%56D6;30<2D04<%47%DB6%B60;1%47%!?2;4%`2D64%0<%2%C;4C6;%
C;486650<=J
(
(
P4"(C40#(-42\(W(E"60#(@1,(O,(C0#"'&&4(A,(]6'"$<$#
QM()URSRK3(^42,()+3(K**K
%
!
P-4QRS!b61C4<56<D%56C410D65%B6;%12K0<=1%A0DB%C6D0D04<6;H
E2<_J%.B6%505%<4D%A0DB5;2A%B6;%56C410D%6K6<%27D6;%32D:;0DF%52D6%
a
%
S;DJ%//TU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
47%DB6%86;D0!%82D61%47%56C410D%>!'1@%C;68016?F%E682:16%1B6%A2<D65%
D4%16D%0D%21056%74;%B6;%;6D0;636<DG%;6?F0<=%4<%DB6%E2<_L1%211:;H
2<86G% 21% ;6"%68D65% 4<% DB6% 7286% 47% DB6% 0<1D;:36<D1% DB6316?K61G%
DB2D%0<D6;61D%A4:?5%V288;:6X%4;%288:3:?2D6%2<<:2??F%6K6<%27D6;%
DB60;%32D:;0DFJ
%
%
,6D0D04<6;HE2<_%720?65%D4%C;4K6%DB2D%0D%B25%2?;625F%C205%;6H
1C4<56<DG%E62;6;%2<5%?2A7:?%B4?56;%47%1:ER68D%!'1G%'.$.2%C6D0D04<6;%
720?65%D4%C;4K6%DB2D%DB6%!'1%B25%E66<%C205%4:D%47%0D1%7:<51G%10<86%
6K056<86% EF% ;61C4<56<D% 1D2<51% :<;6E:DD65% DB2D% 1:ER68D% !'1%
:<D0?%<4A%;6320<%:<0<54;165G%:<56?0K6;65G%2<5%:<A0DB5;2A<%
EF%B6;J
%
!
]RR^NS%P4:?5%0D%E6%:<R:1D%D4%2??4A%DB6%7*&)#'+$!*>!6<&W$%%
D4%56762D%DB6%;0=BD%47%;61C4<56<D%D4%;684K6;%B6;%12K0<=1%AB08B%
1B6%56C410D65%A0DB%DB6%C6D0D04<6;d
%
!
TN?=S!e61G%0D%A4:?5%E6%:<R:1D%<4D%D4%2??4A%;61C4<56<D%D4%
;684K6;%B6;%12K0<=1%AB08B%1B6%56C410D65%A0DB%C6D0D04<6;HE2<_J%
)4;% 4<6G% ,6D0D04<6;% 720?65% D4% 6M6;8016% DB2D% 56=;66% 47% 50?0=6<86%
;69:0;65%EF%DB6%<2D:;6%47%0D1%E:10<611J%,-#).!//GF8.%O682:16%DB6%
E:10<611%47%E2<_1%01%03C;61165%A0DB%C:E?08%0<D6;61DG%DB6%56=;66%
47%50?0=6<86%;69:0;65%47%E2<_1%01%34;6%DB2<%DB2D%47%2%=445%72DB6;%
47%DB6%7230?F%4;%47%2<%4;50<2;F%E:10<611%!%;3J
%
%
*B6%!%5:802;F%<2D:;6%47%DB60;%;6?2D04<1B0C%A0DB%DB60;%56C410H
D4;1%;69:0;61%E2<_1%D4%D;62D%2884:<D1%47%DB60;%8?06<D1%A0DB%DB6%
B0=B61D%56=;66%47%82;6J%,4<+6<%!5.!4-2!FI1!R4C-!:/;!_I000`8.%
S%E2<_%01%:<56;%4E?0=2D04<%D4%D;62D%2884:<D1%47%0D1%56C410D4;1%
A0DB%36D08:?4:1%82;6%AB6DB6;%1:8B%2884:<D1%84<101D%4<?F%47%2%
76A%B:<5;65%C6141%4;%47%30??04<1%47%C6141J%b61C4<10E0?0DF%2;010<=%
7;43%<6=?0=6<86%0<%DB6%C6;74;32<86%47%6K6;F%_0<5%47%4E?0=2D04<%
01%5632<52E?6J%,"#V7$+)'<6!L<+M!5.!4-2!FI3!R4C-!I1:!_I000`8.%
,6D0D04<6;%720?65%D4%C;4K6%C2F36<D%47%DB6%1:ER68D%!'1%011:65%D4%
;61C4<56<D%2<5G%DB6;674;6G%;6320<1%?02E?6%74;%DB6%K2?:6%47%DB6%
54??2;%56C410D1%0<5082D65%DB6;64<%A0DB%288;:65%0<D6;61DJ
%
%
S%86;D0!%82D6%47%56C410D%01%56!%<65%21%2%A;0DD6<%28_<4A?65=H
36<D%EF%2%E2<_%4;%E2<_6;%47%DB6%;6860CD%47%2%1:3%47%34<6F%4<%
56C410D%AB08B%DB6%E2<_%4;%E2<_6;%C;430161%D4%C2F%D4%DB6%56C410H
D4;G%D4%DB6%4;56;%47%DB6%56C410D4;G%4;%D4%1436%4DB6;%C6;14<%4;%B01%
4;56;G%AB6;6EF%DB6%;6?2D04<%47%56ED4;%2<5%8;650D4;%E6DA66<%DB6%
E2<_%2<5%DB6%56C410D4;%01%8;62D65J%,;0<80C?61%=4K6;<0<=%4DB6;%
Y
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//TU
DFC61%47%E2<_%56C410D1%2;6%2CC?082E?6%D4%!'1%,/0!-E!aV#'!I7!
R$&.! :;;8G% 21% 2;6% DB6% ;:?61% =4K6;<0<=% C;430114;F% <4D61% AB6<%
DB6F%84<D20<%2<%:<84<50D04<2?%C;43016%D4%C2F%2%1:3%86;D20<%47%
34<6F%2E14?:D6?FJ%,]@'7.2!R$&.!:;G8.
%
%
*B6%C;0<80C?6%DB2D%C2F36<DG%0<%4;56;%D4%5018B2;=6%2%56EDG%
3:1D%E6%3256%D4%14364<6%2:DB4;0[65%D4%;6860K6%0D%01%2CC?082E?6%
D4%DB6%C2F36<D%47%!'1J%*B:1G%2%E2<_%A0??%E6%C;4D68D65%0<%32_H
0<=%C2F36<D%D4%DB6%B4?56;%2%86;D0!%82D6%0<54;165%EF%DB6%C2F66G%
:<?611%0D%B21%<4D086%47%DB6%0<K2?050DF%47%DB6%0<54;1636<D%4;%DB6%
B4?56;L1%A2<D%47%D0D?6J%,/0!-O!aV#!I7!R$&.!:1/8.%S%E2<_%28D1%2D%
0D1%C6;0?%AB6<%0D%C2F1%56C410D1%6K056<865%EF%2%!'G%A0DB4:D%0D1%
C;45:8D04<%2<5%1:;;6<56;%27D6;%C;4C6;%0<54;1636<DJ%,46<#M!5.!
[*V+e2!I/!R*.!I7!FF/!_/DD:`8.
%
%
*B6%69:0D2E?6%(#'+&'(6$!*>!6<&W$%%01%<4D%1:7!%806<D%D4%56762D%
DB6% ;0=BD1% 47% ;61C4<56<D% 4K6;% DB6% 1:ER68D% !'1J% ?<&W$%% 01% DB6%
720?:;6% 4;% <6=?68DG% 74;% 2<% :<;6214<2E?6% ?6<=DB% 47% D036G% D4% 54%
DB2D%AB08BG%EF%6M6;8010<=%5:6%50?0=6<86G%84:?5%4;%1B4:?5%B2K6%
E66<%54<6%62;?06;J%"D%01%<6=?0=6<86%4;%4301104<%D4%2116;D%2%;0=BD%
A0DB0<%2%;6214<2E?6%D036G%A2;;2<D0<=%2%C;61:3CD04<%DB2D%DB6%
C2;DF%6<D0D?65%D4%2116;D%0D%60DB6;%B21%2E2<54<65%0D%4;%568?0<65%D4%
2116;D%0DJ%,P$6'd<#7*!5.!P$#+<+7$d2!BC!/FG;0D2!-Ve.!/;2!I00/8.
%
%
*B6;6% 01% <4% 2E14?:D6% ;:?6% 21% D4% AB2D% 84<1D0D:D61% ?28B61%
4;%1D2?6<611%47%5632<5W%628B%8216%01%D4%E6%56D6;30<65%2884;5H
0<=% D4% 0D1% C2;D08:?2;% 80;8:31D2<861J% *B6% 9:61D04<% 47% ?28B61% 01%
255;61165% D4% DB6% 14:<5% 5018;6D04<% 47% DB6% 84:;D% 2<5G% E60<=% 2<%
69:0D2E?6% 548D;0<6G% 0D1% 2CC?082D04<% 01% 84<D;4??65% EF% 69:0D2E?6%
84<1056;2D04<1J%"D%82<<4D%E6%:165%D4%56762D%R:1D086%4;%C6;C6D;2D6%
7;2:5%2<5%0<R:1D086J%!4:;D1%A0??%<4D%E6%=:0565%4;%E4:<5%1D;08D?F%
EF%DB6%.D2D:D6%47%$030D2D04<1%4;%DB6%548D;0<6%47%?28B61%AB6<%D4%
54%14%32<0761D%A;4<=%4;%0<R:1D086%A4:?5%;61:?DJ%,C*%<6$%!5.!4-2!
BC!/FG;112!P$@.!I32!I00/8.
%
%
b61C4<56<D%01%6<D0D?65%D4%34;2?%5232=61%E682:16%47%DB6%
36<D2?%2<=:01B%2<5%B:30?02D04<%1B6%1:776;65%21%2%;61:?D%47%DB6%
A;4<=?F%;67:12?%47%C6D0D04<6;%D4%C2F%B6;%6K6<%27D6;%1B6%B25%56H
?0K6;65%DB6%!'1J%,-#)%.!II/G!<+7!II/D8.%"<%2550D04<G%C6D0D04<6;%
1B4:?5%C2F%;61C4<56<D%6M63C?2;F%5232=61%AB08B%DB6%D;02?%84:;D%
03C4165%EF%A2F%47%6M23C?6%4;%84;;68D04<%74;%DB6%C:E?08%=445%,-#).!
IIID8.! )0<2??FG% ;61C4<56<D% 01% 6<D0D?65% D4% 2DD4;<6FL1% 7661% 10<86%
C6D0D04<6;L1%28D%4;%4301104<%843C6??65%B6;%D4%0<8:;%6MC6<161%D4%
Z
%
S;DJ%//TU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
C;4D68D%B6;%0<D6;61D%32_0<=%1:8B%2A2;5%R:1D%2<5%69:0D2E?6J%,-#).!
II038.
(
(
I'O'&1/<'2#(-42\(1;(#8'(J8$&0,(O,(@!(W(@4"&10(@4_'0(
QM()KTUX)3(!/",(KR3(K***
%
!
P-4QRS!,6D0D04<6;%!%?65%2<%6R68D36<D%1:0D%2=20<1D%C;0K2D6%
;61C4<56<DG%8?2030<=%4A<6;1B0C%47%2%C2;86?%47%?2<5%84K6;65%EF%
2%*!*G%AB08B%0<8?:565%DB6%/ZJ\%B68D2;61%E60<=%488:C065%EF%DB6%
?2DD6;J%*B6%D;02?%84:;D%568?2;65%C6D0D04<6;%D4%E6%DB6%4A<6;%47%DB6%
?2<5G%E:D%DB6%!4:;D%47%SCC62?1%>!S@%;6K6;165%DB6%D;02?%84:;DJ%&<%
2CC62?G%C6D0D04<6;%8?20365%DB2D%0D1%C;65686114;H0<H0<D6;61D%B25%
E68436%DB6%4A<6;%47%DB6%?2<5%EF%K0;D:6%47%DB6%568;66%47%;6=01D;2H
D04<%0<%B01%<236J%*B6%.:C;636%!4:;D%27!%;365%DB6%!SJ
%
!
TN?=S% *2_0<=% 0<D4% 84<1056;2D04<% DB6% C41161104<% 47% B01%
C;65686114;H0<H0<D6;61DG%C;0K2D6%;61C4<56<D%B25%E66<%0<%:<0<D6;H
;:CD65%25K6;16%C41161104<%47%DB6%?2<5%74;%34;6%DB2<%QT%F62;1%
C;04;%D4%DB6%568;66%47%;6=01D;2D04<%011:65%0<%72K4;%47%C6D0D04<6;L1%
C;65686114;H0<H0<D6;61DJ%.:8B%C41161104<%;0C6<65%0<D4%4A<6;1B0C%
47%DB6%?2<5%DB;:%<&YV'%')'5$!(#$%&#'()'*+G%2%3456%47%289:0;0<=%
4A<6;1B0C% 2<5% 4DB6;% ;62?% ;0=BD1% 4K6;% 0334K2E?6% C;4C6;DFJ% S%
568;66%47%;6=01D;2D04<%8:D%477%4;%6MD0<=:01B65%2%;0=BD%289:0;65%EF%
2%C6;14<%4<?F%AB6<%1:8B%;0=BD%;676;1%D4%2%?06<%4;%6<8:3E;2<86%
4<%DB6%?2<5%AB08B%A21%<4D%2<<4D2D65%4<%DB6%86;D0!%82D6%47%D0D?6%
011:65%DB6;64<G%E:D%<4D%D4%DB6%;0=BD%47%4A<6;1B0C%DB6;647J%b6=01H
D;2D04<%47%?2<5%5461%<4D%8;62D6%2%D0D?6%<4;%K61D%4<6J%S884;50<=?FG%
DB6%/ZJ\%B68D2;61%47%?2<5%E60<=%488:C065%EF%C;0K2D6%;61C4<56<D%
3:1D%E6%;684<K6F65%0<%B01%72K4;J
G))H( J"'06</#$O'( J'"$19( "'( >&&?Q1##'2( `'4&#8( 1"( Y-'8'0#Z(
N1420
(
(
(
(
(
J"'0$9'2#$4&(!9(a1%(P4%#?P$29$2:(@1<<$##''(
12(-'8'0#(N1420(O,(!2$421(!,(I'0$'"#1
GM'%1O'".(1;(>&&?Q1##'2(`'4&#8H
QM()L*LU*3(A%#,(KS3()TTT
))U([@!I(X*X
%
%
O6B61D% ?42<1G% AB08B% 2;6% C2;D% 47% DB6% 0??H=4DD6<% A62?DB%
AB08B%74;36;%,;61056<D%)6;50<2<5%(J%`2;841%2<5%B01%8;4<061%
288:3:?2D65%2<5%AB08B%DB6%f4K6;<36<D%DB;:%DB6%,;61056<D02?%
/T
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//Ta
!43301104<% 4<% f445% f4K6;<36<D% >,!ff@% 166_1% D4% ;684K6;G%
B2K6%2%(#$%&#'()'5$!($#'*7%D4%E6%84:<D65%7;43%DB6%50184K6;F%47%
DB6%8;0361%8B2;=65G%2<5%<4D%7;43%DB6%52D6%47%DB60;%843301104<J%
"7%DB6%843301104<%47%DB6%8;036%01%_<4A<G%DB6%C;618;0CD0K6%C6;045%
1B2??%84336<86%D4%;:<%4<%DB6%52F%0D%A21%84330DD65J
%
%
*B6%C;4168:D04<%47%4776<161%2;010<=%7;43G%;6?2D0<=%4;%0<80H
56<D%D4G%4;%0<K4?K0<=%0??H=4DD6<%A62?DB%84<D63C?2D65%0<%.68J%/]G%
S;DJ%g"%47%DB6%,B0?0CC0<6%!4<1D0D:D04<%47%/ZYa%32F%E6%E2;;65%
EF%C;618;0CD04<J%.205%C;4K0104<%2CC?061%4<?F%0<%80K0?%28D04<1%74;%
;684K6;F%47%0??H=4DD6<%A62?DBG%2<5%<4D%D4%8;030<2?%82161J
(
!"#,())*X,(J'"0120(781(4"'(%4/4=&'(1;(4%56$"$2:(/"1/'"#.(
1"("$:8#0(=.(#8'(1#8'"(&':4&(<19'0(<4.(4%56$"'(#8'(04<'(=.(
<'420(1;(/"'0%"$/#$12,
(
B$21"0( 429( 1#8'"( $2%4/4%$#4#'9( /'"0120( <4.( 4%56$"'(
/"1/'"#.( 1"( "$:8#0( =.( /"'0%"$/#$123( '$#8'"( /'"0124&&.( 1"(
#8"16:8(#8'$"(/4"'2#03(:64"9$420(1"(&':4&("'/"'0'2#4#$O'0,(
@ABBCDEF
G)H( `81(B4.(!%56$"'(J"1/'"#.(1"(M$:8#0(=.(J"'0%"$/#$12
>2@% DB416%AB4%82<%32_6%:16%47%DB6%4DB6;%34561%47%289:0;0<=%
4A<6;1B0CJ
>E@% 6K6<% 30<4;1% 2<5% 4DB6;% 0<82C280D2D65% C6;14<1% >?0_6% DB6%
0<12<6@J
GKH( M'4012(;1"(J4",()(GE810'(@4/4=&'(1;(!%56$"$2:(J"1/'"#.(
1"(M$:8#0(E8"6(#8'(A#8'"(B19'0H
%
%
.0<86%C;618;0CD04<%01%2?14%2%3456%47%289:0;0<=%4A<6;1B0CG%
0D%74??4A1%DB2D%07%2%C6;14<%01%82C2E?6%47%E68430<=%2<%4A<6;%EF%DB6%
4DB6;%?6=2?%34561G%B6%1B4:?5%2?14%E6%82C2E?6%47%289:0;0<=%DB6%1236%
C;4C6;DF%EF%C;618;0CD04<J%*B:1G%07%2%C6;14<%82<%E68436%2<%4A<6;%
EF%54<2D04<G%B6%82<%2?14%E68436%2<%4A<6;%EF%C;618;0CD04<J
GLH( ]6'".(GM'(I124#$12(=.(J4"4<16"H
(
%
S%B:1E2<5%82<<4D%K2?05?F%;6860K6%2%54<2D04<%7;43%2%C2;2H
34:;J%-4A%DB6<G%82<%B6%289:0;6%EF%C;618;0CD04<%DB6%C;4C6;DF%
54<2D65%D4%B03%EF%DB6%C2;234:;d
//
%
S;DJ%//TY
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!
-9R.S! e61G% E:D% 4<?F% EF% $J)#<*#7'+<#K% C;618;0CD04<% ><4D%
*#7'+<#K!C;618;0CD04<@% 10<86% B6% A4:?5% E6% ?28_0<=% DB6% 6?636<D%
47%VR:1D%D0D?6JX%*B6;6%A4:?5%E6%<4%VR:1D%D0D?6X%E682:16%:<56;%DB6%
?2AG%DB6F%2;6%0<82C280D2D65%D4%54<2D6%D4%628B%4DB6;J%,R$$!-#).!
GFD2!4'5'6!4*7$8.%-4D6%DB2D%6K6<%07%2%54<2D04<%01%#&"'G%0D%32F%
84<1D0D:D6%DB6%?6=2?%E2101%74;%25K6;16%C41161104<J%,R$$!Q<e<6e<6!
5.!?V$e<2!4-ABC!/D1;/AC2!P$@.!/D2!/D;D8.
GUH( M'4012(`8.(B$21"0(B4.(!%56$"'(J'"0124&&.
(
%
*B01%01%E682:16%4<?F%R:;05082?%82C280DF%01%;69:0;65%74;%C41H
161104<G%<4D%82C280DF%D4%28DJ%*B:1G%6K6<%50186;<36<D%47%0<D6<D%
D4%C411611%01%<4D%;69:0;65%74;%1:8B%C6;14<2?%289:010D04<J%*B01%01%
14%E682:16%DB6%?2A%32_61%<4%501D0<8D04<J
(
!"#,())*R,(J"'0%"$/#$123(=1#8(4%56$0$#$O'(429('b#$2%#$O'3(
"620(4:4$20#F
(
G)H( B$21"0(429(1#8'"($2%4/4%$#4#'9(/'"0120(781(84O'(
/4"'2#03(:64"9$420(1"(1#8'"(&':4&("'/"'0'2#4#$O'0c
(
GKH( !=0'2#''0(781(84O'(49<$2$0#"4#1"03('$#8'"(4//1$2#?
'9(=.(#8'<(=';1"'(#8'$"(9$04//'4"42%'3(1"(4//1$2#'9(=.(#8'(
%16"#0c
(
GLH( J'"0120( &$O$2:( 4="1493( 781( 84O'( <424:'"0( 1"( 49?
<$2$0#"4#1"0c
(
GUH( ^6"$9$%4&(/'"01203('b%'/#(#8'([#4#'(429($#0(06=9$O$?
0$120,
J'"0120( 781( 4"'( 9$0564&$!('9( ;"1<( 49<$2$0#'"$2:( #8'$"(
(
/"1/'"#.(84O'(4("$:8#(#1(%&4$<(94<4:'0(;"1<(#8'$"(&':4&("'/?
"'0'2#4#$O'0(7810'(2':&$:'2%'(840(=''2(#8'(%460'(1;(/"'0%"$/?
#$12,
@ABBCDEF
G)H( J'"0120(!:4$20#(`81<(J"'0%"$/#$12(B4.(M62
>2@% *B6%S;D08?6%6<:36;2D61%74:;%1:8B%=;4:C1J
>E@% C$<%*+!>*#!"<#%.!/2!I2!<+7!FS
!
%
*B616%C64C?6%2;6%1:CC4165%D4%E6%C;4D68D65%EF%DB416%
0<%8B2;=6J%"7%DB6F%2;6%<4D%C;4C6;?F%C;4D68D65%DB;:%DB6%?2DH
/N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//TZ
D6;L1%<6=?0=6<86G%2%8?203%74;%5232=61%2=20<1D%DB6%?2DD6;%82<%
C;41C6;J
GKH( ]6'".(GM'(B$21"0(`$#816#(J4"'2#03('#%,H
(
%
.:CC416%DB6%30<4;1%4;%DB6%0<12<6%C6;14<1%B2K6%<4%C2;6<D1%
4;%?6=2?%;6C;616<D2D0K61G%5461%C;618;0CD04<%;:<%2=20<1D%DB63d
%
!
-9R.S!PB0?6%DB6%S;D08?6%16630<=?F%03C?061%DB2D%0<%1:8B%2%
8216G%C;618;0CD04<%1B4:?5%<4D%;:<%2=20<1D%DB63G%0D%01%E6?06K65%DB2D%
.681J%\NG%\]G%2<5%\U%47%S8D%-4J%/ZT%>DB6%!456%47%!0K0?%,;4865:;6@%
82<%2CC?F%D4%DB63G%10<86%03C?065%;6C62?1%2;6%<4D%?44_65%:C4<%
A0DB%72K4;J%*B:1G%C;618;0CD04<%82<%1D0??%;:<%2=20<1D%30<4;1G%DB6%
0<12<6G%2<5%DB416%0<%R20?G%$J&$()%DB2D%DB616%C64C?6%32F%1D0??%E;0<=%
DB6%28D04<%A0DB0<%2%<:3E6;%47%F62;1%27D6;%DB60;%5012E0?0DF%B21%
E66<%;634K65I
%
>2@% Q%F62;1%h%0<%8216%47%;684K6;F%47%?2<5
%
>E@% N%F62;1%h%0<%4DB6;%80K0?%28D04<1
%
%
*B616%12K0<=%8?2:161%2;6%0<%?0<6%A0DB%1436%12K0<=%8?2:161%
C;4K0565%74;%30<4;1%2<5%DB6%0<82C280D2D65%:<56;%DB6%-6A%!0K0?%
!456J%>.66G%74;%6M23C?6G%S;DJ%NY]%A0DB%;61C68D%D4%DB6%;0=BD%47%2%
<2D:;2?%8B0?5%D4%843C6?%;684=<0D04<%<>)$#%DB6%C2;6<DL1%562DBG%07%
DB6%C2;6<D%5061%AB0?6%DB6%8B0?5%A21%1D0??%2%30<4;@J
%
%
"7%DB6%30<4;%B21%2%=:2;502<G%DB6;6%01%-&%'&cO*%DB2D%C;6H
18;0CD04<%;:<1%2=20<1D%B03%6K6<%5:;0<=%30<4;0DFJ%,R$$!f$+d$62!
$)! <6.! 5.! RV#'e<*! 4*+%*6'7<)$7! E'+'+e! 4*.2! ?A/03:F2! E<K! F/2!
/D108.
GLH( [#4#'(429(>#0([6=9$O$0$120
(
%
-4%C;618;0CD04<%82<%;:<%2=20<1D%DB63G%6M86CD%A0DB%;676;H
6<86%D4%C2D;034<02?%C;4C6;DFJ%,R$$!-#).!///F2!4'5'6!4*7$8.
(
!"#,())*T,(J"'0%"$/#$12(91'0(21#("62(='#7''2(860=429(429(
7$;'3('O'2(#816:8(#8'"'(='(4(0'/4"4#$12(1;(/"1/'"#.(4:"''9(
6/12($2(#8'(<4""$4:'(0'##&'<'2#0(1"(=.(_69$%$4&(9'%"'',
(
D'$#8'"( 91'0( /"'0%"$/#$12( "62( ='#7''2( /4"'2#0( 429(
%8$&9"'23( 96"$2:( #8'( <$21"$#.( 1"( $2042$#.( 1;( #8'( &4##'"3( 429(
='#7''2(:64"9$42(429(74"9(96"$2:(#8'(%12#$2642%'(1;(#8'(
:64"9$4208$/,
/Q
%
S;DJ%//TZ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
@ABBCDEF
G)H( D1(J"'0%"$/#$12(-'#7''2(a60=429(429(`$;'
>2@% C$<%*+! >*#! )W$! 6<X! g! *B6% 8?416% ;6?2D04<1B0C% E6DA66<%
DB63G%6<=6<56;65%EF%27768D04<%4;%0<"%:6<86G%32F%C;6K6<D%
4<6%7;43%1:0<=%DB6%4DB6;J%+6<86G%DB6%=6<6;2?%;:?6%01%h%-&%
,b(.!b",*"&-J
%
!
,9HQNS!*B6%S;D08?6%A21%2CC?065%0<%Q*#'@<!P*+)<+'66<!
"<&'*2!$)!<6.!5.!E<+V$6<!"<&'*!L'66*+2!$)!<6.2!?A/;0332!a<+.!
F/2!/D1/8.
>E@% -4D6%DB2D%DB6;6%01%<4%C;618;0CD04<%6K6<%07%DB6;6%B21%E66<%
2%V16C2;2D04<%47%C;4C6;DFGX%74;%DB6%1236%;6?:8D2<86%D4%1:6%
628B%4DB6;%32F%1D0??%6M01DJ
>8@%
hV$#K!h
%
%
.:CC416% DB6% V16C2;2D04<% 47% C;4C6;DFX% 01% DB6% 84<16H
9:6<86%47%?6=2?%16C2;2D04<G%5461%C;618;0CD04<%;:<d
%
!
-9R.S! "D% 01% E6?06K65% DB2D% C;618;0CD04<% A0??% 2?14% +*)!
;:<G%74;%DB6%?2A%5461%<4D%501D0<=:01BJ%S7D6;%2??G%B6;6G%DB6%
V16C2;2D04<%47%C;4C6;DFX%A4:?5%E6%VEF%R:50802?%568;66JX
>5@% NJ&$()'*+%!g!AB6<%C;618;0CD04<%01%1C680!%82??F%C;4K0565%74;%
EF%?2AG%1:8B%21I
/@%
DB6%C;618;0CD0K6%C6;045%74;%?6=2?%16C2;2D04<%1:0D1%,-#).!
/I02!4'5'6!4*7$8i
N@%
2?06<2D04<1%3256%EF%DB6%B:1E2<5G%A0DB4:D%DB6%A076L1%
84<16<DJ%,-#).!/GF2!4'5'6!4*7$8.
GKH( -'#7''2(J4"'2#0(429(@8$&9"'2
>2@% -4% C;618;0CD04<% 1B2??% ;:<% E6DA66<% DB63% 5:;0<=% DB6% `"H
-&b"*e% 4;% "-.S-"*e% 47% DB6% ?2DD6;J% S% %$+%V! &*+)#<#'*!
C;618;0CD04<%;:<1%07%DB6%?6=2?%5012E0?0DF%5461%<4D%6M01D%2<FH
34;6J
>E@% S1%2%=6<6;2?%;:?6G%6K6<%07%DB6%8B0?5%01%<60DB6;%0<12<6%<4;%
0<82C280D2D65G%2<%25K6;16%C41161104<%&<++*)%E6%C;65082D65%
4<%DB6%C41161104<%47%DB6%C2;6<D%21%2=20<1D%DB6%8B0?5G%4;%0<%DB6%
C41161104<%47%DB6%8B0?5%21%2=20<1D%0D1%C2;6<DJ%*B:1G%AB6;6%
2%72DB6;%E68236%0<12<6G%2<5%4<6%47%B01%14<1%32<2=65%DB6%
/\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;D1J%///TH////
72;3%5:;0<=%DB6%;61D%47%B01%72DB6;L1%?076D036%2<5%;6320<65%
0<% C41161104<% 47% 0D% 74;% DB6% 1D2D:D4;F% C6;045G% 0D% A21% B6?5%
DB2D% DB616% 728D1% 2?4<6% 505% +*)! A2;;2<D% DB6% C;61:3CD04<%
47%2%84<K6F2<86%D4%DB6%14<%EF%DB6%72DB6;%4;%47%2%;6?6216%D4%
B03%EF%DB6%4DB6;%B60;1%1:E169:6<D%D4%DB60;%72DB6;L1%562DBJ%
,/!-O.!aV#.!30G!<+7!='#$&)*#!*>!?<+7%!5.!-@'$#)<%2!::!H.B.!
DIF8.
GLH( -'#7''2(Q64"9$42(429(`4"9
(
%
-4%C;618;0CD04<%;:<1%E6DA66<%DB63%5:;0<=%DB6%84<D0<:2<86%
47%DB6%=:2;502<1B0CJ%*B01%01%14%6K6<%07%DB6%=:2;502<%6MC;611?F%
;6C:502D61%DB6%=:2;502<1B0C%>A0DB4:D%84:;D%2CC;4K2?@W%4DB6;A016G%
DB6%D;:1D%;6?2D04<1B0C%A4:?5%E6%;6<56;65%<:=2D4;FJ
(
!"#,()))*,(J"'0%"$/#$123(4%56$0$#$O'(429('b#$2%#$O'3("620(
$2(;4O1"(1;3(1"(4:4$20#(4(<4""$'9(71<42,
@ABBCDEF
(
J"'0%"$/#$12($2(#8'(@40'(1;(4(B4""$'9(`1<42
(
*B01%S;D08?6%;676;1%D4%2%32;;065%A432<%2<5%2%%)#<+e$#.
!
!"#,()))),(J"'0%"$/#$12(1=#4$2'9(=.(4(%1?/"1/"$'#1"(1"(4(
%1?172'"(084&&(='2'!(#(#8'(1#8'"0,
@ABBCDEF
G)H( J"'0%"$/#$12(A=#4$2'9(=.(@1?J"1/"$'#1"(1"(@1?A72'"
!
C$<%*+S
!
%
"<%2%16<16G%2%84H4A<6;%4;%84HC;4C;06D4;%28D1%74;%DB6%0<D6;61D%
47% DB6% AB4?6% 84H4A<6;1B0CJ% .030?2;?FG% 2<% 28D04<% 74;% 6R68D36<D%
32F%E6%E;4:=BD%EF%R:1D%4<6%47%DB6%84H4A<6;1J%,R$$!-#).!:3G2!4'5'6!
4*7$8.
%
!
_9HQN2! B4A6K6;G% DB2D% 21% E6DA66<% 4;% 234<=% 84H4A<6;1G%
DB6;6%82<%E6%C;618;0CD04<%AB6<%DB6;6%01%2%56!%<0D6%;6C:502D04<%47%
DB6%84H4A<6;1B0CG%3256%_<4A<%D4%DB6%4DB6;%84H4A<6;1J%,?<eV+<!
5.!?$5<+)'+*2!G/!"W'6.!;118.`
/]
%
S;DJ%///N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GKH( N$<$#4#$12
%
%
*B6%C;618;0CD04<%4ED20<65%EF%2%84H4A<6;%3:1D%B2K6%;676;H
6<86%D4%DB6%C;4C6;DF%B6?5%0<%84334<G%<2D:;2??FW%4DB6;A016%DB6%
S;D08?6%5461%<4D%2CC?FJ
(
!"#,()))K,(J'"0120(7$#8(%4/4%$#.(#1(4&$'24#'(/"1/'"#.(<4.(
"'2162%'(/"'0%"$/#$12(4&"'49.(1=#4$2'93(=6#(21#(#8'("$:8#(#1(
/"'0%"$='($2(#8'(;6#6"',
(
J"'0%"$/#$12($0(9''<'9(#1(84O'(=''2(#4%$#&.("'2162%'9(
78'2( #8'( "'262%$4#$12( "'06&#0( ;"1<( 4%#0( 78$%8( $</&.( #8'(
4=42912<'2#(1;(#8'("$:8#(4%56$"'9,(
@ABBCDEF
G)H( M'56$0$#'0( ;1"( M'262%$4#$12( 1;( J"1/'"#.( !%56$"'9( =.(
J"'0%"$/#$12
>2@% b6<4:<86;% 3:1D% B2K6% 82C280DF% D4% 2?06<2D6% C;4C6;DF% >E6H
82:16%;6<:<802D04<%01%2<%6M6;8016%D4%DB6!UV%!7'%(*+$+7'@J
>E@% *B6%C;4C6;DF%289:0;65%3:1D%B2K6%2?;625F%E66<%4ED20<65%
>B6<86G% DB6% ;0=BD% D4% C;618;0CD04<% 0<% DB6% >V)V#$! &<++*)% E6%
;6<4:<865G% 10<86% 32<0761D?FG% DB01% A4:?5% E6% 84<D;2;F% D4%
C:E?08%C4?08F@J
>8@%
*B6%;6<4:<80<=%3:1D%E6%3256%EF%DB6%4A<6;%47%DB6%;0=BD%
><4D%EF%2%36;6%2530<01D;2D4;%4;%=:2;502<G%74;%B6%5461%<4D%
4A<%DB6%C;4C6;DF@J
>5@% *B6% ;6<4:<80<=% 3:1D% <4D% C;6R:5086% DB6% ;0=BD1% 47% 4DB6;1G%
1:8B%21%8;650D4;1J%,-#)%.!12!///:2!4'5'6!4*7$8.
GKH( P1"<
>2@% 32F%E6%6MC;611%4;%03C?065%>D280D@
>E@% ;69:0;61%<4%84<16<D%4<%DB6%C2;D%47%DB6%C6;14<%D4%E6%E6<H
6!%D65
>8@%
;69:0;61%<4%14?63<0D061%4;%74;32?0D061
GLH( ></&$'9(1"(E4%$#(M'262%$4#$12
%
%
*B6;6%01%D280D%;6<:<802D04<%AB6<%DB6;6%01%2<%28D04<%AB08B%
03C?061%DB6%<@<+7*+O$+)!47%DB6%;0=BD%289:0;65J
/U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%///Q
%
NJ<O(6$S
!
%
.4<02%74;36;?F%4A65%(1C6;2<[2%E:D%DB6%56ED%B21%2?;625F%
C;618;0E65J
>2@% "7%.4<02G%M+*X'+e%DB2D%DB6%56ED%B21%C;618;0E65G%<6K6;DB6?611%
1D0??%28_<4A?65=61%DB6%6M01D6<86%47%DB6%56ED%2<5%C;430161%D4%
C2F%74;%0DG%DB6;6%01%2<%'O(6'$7!#$+V+&'<)'*+!47%DB6%C;618;0CH
D04<J%.B6%1D0??%B21%2%&'5'6%4E?0=2D04<J
>E@% "7%.4<02G%M+*X'+e!DB2D%DB6%56ED%B21%C;618;0E65G%<6K6;DB6H
?611%K4?:<D2;0?F%C2F1%DB6%56EDG%1B6%82<<4D%;684K6;%AB2D%1B6%
B25%C205J%*B01%A4:?5%E6%2%+<)V#<6%4E?0=2D04<J
>8@%
%
"7%.4<02G%+*)!M+*X'+e%DB2D%DB6%56ED%B21%C;618;0E65%C2F1%0DG%
DB6;6%01%+*%;6<:<802D04<%47%DB6%C;618;0CD04<W%2<5%1B6%82<%
1D0??%;684K6;%4<%DB6%E2101%47%%*6V)'*!'+7$@')'J
!
]??^RQC-Q]jN! 4-RNS! "7% 2% D2MC2F6;G% 843C?20<0<=% ;6H
C62D65?F%2=20<1D%2%D2M%21161136<DG%32_61%16K6;2?%;69:61D1%74;%
2%;60<K61D0=2D04<%DB6;647G%B6%32F%E6%1205%D4%B2K6%PS"#('%DB6%
5676<16%47%C;618;0CD04<J%,[V)'5*!b!R*+%!T<#7X<#$!4*.!5.!4).!*>!
Q<J!-(($<6%!b!4*66$&)*#!*>!]+).!C$5.2!?A/FI0F2!a<+.!I32!/D1/8.
(
!"#,()))L,(!&&(#8$2:0(78$%8(4"'(7$#8$2(#8'(%1<<'"%'(1;(
<'2(4"'(060%'/#$=&'(1;(/"'0%"$/#$123(62&'00(1#8'"7$0'(/"1?
O$9'9,(J"1/'"#.(1;(#8'([#4#'(1"(42.(1;($#0(06=9$O$0$120(21#(/4#?
"$<12$4&($2(%84"4%#'"(084&&(21#(='(#8'(1=_'%#(1;(/"'0%"$/#$12,(
@ABBCDEF
G)H( E8$2:0(E84#(B4.(-'(!%56$"'9(=.(J"'0%"$/#$12
%
%
f6<6;2??F%h%2??%DB0<=1%A0DB0<%DB6%84336;86%47%32<J
GKH( J4#"$<12$4&(J"1/'"#.
>2@% OF% 03C?082D04<% :<56;% DB01% S;D08?6G% (<)#'O*+'<6! C;4C6;DF%
47%DB6%.D2D6%4;%2<F%47%0D1%1:E50K0104<1%32F%E6%289:0;65%EF%
C;618;0CD04<J
>E@% PB0?6%0D%32F%E6%8?20365%DB2D%2%50;68D%2<5%8?62;%C;4K0104<%
,-#).!//032!4'5'6!4*7$%h%AB08B%12F1%DB2D%C;618;0CD04<%5461%
<4D%;:<%2=20<1D%DB6%.D2D6%4;%2<F%47%0D1%1:E50K0104<1@%C;6K20?1%
/a
%
S;DJ%///Q
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
4K6;%2<%03C?082D04<%,-#).!///F2!4'5'6!4*7$8G%1D0??%AB6<%A6%
84<1056;%DB6%0<D6<D%47%!4<=;611%0<%0<16;D0<=%DB6%CB;216%V<4D%
C2D;034<02?%0<%8B2;28D6;X%0<%DB6%4;0=0<2?%5;27D%1:E30DD65%EF%
DB6%!456%!43301104<G%0D%01%8?62;%DB2D%C2D;034<02?%C;4C6;DF%
32F%0<5665%E6%DB6%1:ER68D%47%C;618;0CD04<J%*B01%01%14%E682:16%
C2D;034<02?%C;4C6;D061%2;6%;62??F%0<%DB6%1236%82D6=4;F%21%
C;0K2D6%C;4C6;D061J
GLH( D1(J"'0%"$/#$12(`$#8(M'0/'%#(#1(J6=&$%(J"1/'"#.
%
%
,:E?08%C;4C6;DFG%B4A6K6;G%82<<4D%E6%DB6%1:ER68D%47%C;618;0CH
D04<J%*B01%;:?6%2CC?061%6K6<%D4%(#'5<)$6K!*X+$7!V+#$e'%)$#$7!6<+7%%
AB08BG%:<?611%DB6%84<D;2;F%01%1B4A<G%2;6%(#$%VO$7!)*!@$!(V@6'&!
6<+7%2!:<56;%DB6%C;0<80C?6%DB2D%V2??%?2<51%E6?4<=%D4%DB6%!;4A<%
:<?611%DB6F%B25%E66<%=;2<D65%EF%DB6%i0<=%>.D2D6@%4;%0<%B01%<236G%
4;%EF%DB6%i0<=1%AB4%C;686565%B03JX%,j<6$+)*+!5.!EV#&'<+*2!F!
"W'6.!;F8.
!
%
+4A6K6;G%DB6%;:?6%R:1D%1D2D65%82<<4D%E6%2?D4=6DB6;%0<"%6MH
0E?6G%21%A0D<61165G%74;%6M23C?6G%EF%DB6%C;616<86%47%C$(.!-&)!/D:I!
,<((#*5$7! aV+$! II2! /D;G82! 236<50<=% .68J% \Y>E@% 47% DB6% ,:E?08%
$2<5%S8D%,4*O.!-&)!/:/8.!*B:1G%21%236<565%EF%bS%/Z]NG%.68J%
\Y%47%!S%/\/%<4A%;6251%21%74??4A1I
%
!
kR$&)'*+!:3.%*B6%74??4A0<=%5618;0E65%80D0[6<1%47%DB6%,B0?0CH
C0<61%488:CF0<=%6<+7%!*>!)W$!(V@6'&!7*O<'+%4;%8?2030<=%D4%4A<%
2<F%1:8B%?2<5%4;%2<%0<D6;61D%DB6;60<G%E:D%AB416%D0D?61%B2K6%<4D%
E66<%C6;768D65%4;%843C?6D65G%32F%2CC?F%D4%DB6%!4:;D%47%)0;1D%"<H
1D2<86%47%DB6%C;4K0<86%AB6;6%DB6%?2<5%01%?482D65%74;%84<!%;32D04<%
47%DB60;%8?2031%2<5%DB6%011:2<86%47%2%86;D0!%82D6%47%D0D?6%DB6;674;G%
:<56;%DB6%$2<5%b6=01D;2D04<%S8DG%D4%A0DI
M%M%M
%
%
VE@% *B416%AB4%EF%DB6316?K61%4;%DB;4:=B%DB60;%C;656861H
14;1%0<%0<D6;61D%B2K6%E66<%0<%4C6<G%84<D0<:4:1G%6M8?:10K6%2<5%
<4D4;04:1% C41161104<% 2<5% 488:C2D04<% 47% 2=;08:?D:;2?% ?2<51% 47%
DB6% C:E?08% 54320<G% :<56;% 2% @*+<! !!7$% 8?203% 47% 289:010D04<% 47%
4A<6;1B0CG%74;%2D%?621D%)W'#)K!K$<#%!0336502D6?F%C;68650<=%DB6%
!%?0<=%47%DB6%2CC?082D04<%74;%84<!%;32D04<%47%DB6%D0D?6%6M86CD%AB6<%
C;6K6<D65%EF%A2;%4;%>*#&$!O<U$V#$J%*B616%1B2??%E6%84<8?:10K6?F%
C;61:365% D4% B2K6% C6;74;365% 2??% DB6% 84<50D04<1% 6116<D02?% D4% 2%
f4K6;<36<D%=;2<DG%2<5%1B2??%E6%6<D0D?65%D4%2%86;D0!%82D6%47%D0D?6%
/Y
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%///\
:<56;% DB6% C;4K0104<1% 47% DB01% 8B2CD6;% >DB6% 8B2CD6;% 562?1% A0DB%
R:50802?%84<!%;32D04<%47%03C6;768D%4;%0<843C?6D6%D0D?61@JX
%
%
>9HQNS!+4A6K6;G%:<56;%C-!/0GG%DB6%5625?0<6%47%DB6%2CH
C?082D04<%A21%4<?F%:C%D4%'68J%Q/G%/Z]aJ@
GUH( [1<'(I1%#"$2'0
>2@% S% !%1BC4<5% 84<1D;:8D65% 0<% DB6% O23E2<=% b0K6;% 82<% E6%
4;56;65% ;634K65% EF% DB6% =4K6;<36<DG% ;6=2;5?611% 47% DB6%
<:3E6;%47%F62;1%DB2D%B2K6%6?2C165%10<86%DB6%84<1D;:8D04<%
47%1205%!%1BC4<5G%0<213:8B%21%2%;0K6;G%4;%2%C4;D04<%DB6;647G%
01% C;4C6;DF% 47% C:E?08% 5430<04<G% 2<5% 82<<4D% DB6;674;6% E6%
289:0;65% EF% 289:010D0K6% C;618;0CD04<J% ,E$+$%$%! 5.! 4*OA
O*+X$<6)W2!1D!"W'6.!1:G8.
>E@% .030?2;?FG%2%D;28D%47%?2<5G%74;36;?F%?4A%2<5%1A23CFG%E:D%
=;25:2??F%;20165%EF%DB6%28D04<%47%DB6%162G%01%<4D%1:186CD0E?6%
47%C;618;0CD04<G%2<5%32F%DB6;674;6%E6%;684K6;65%EF%DB6%=4KH
6;<36<D%561C0D6%DB6%84<1D;:8D04<%DB6;64<%47%A2;6B4:161%
2<5%2%AB2;7J%*B6%?2<5%01%C2;D%47%DB6%C:E?08%54320<J%,]+%V6<#!
B*5$#+O$+)!5.!-67$&*<!<+7!4*.2!/D!"W'6.!;0;8.
>8@%
S%C?2[2%0<D6<565%74;%C:E?08%:16%01%?0_6A016%<4D%1:ER68D%D4%
C;618;0CD04<J%,T<#)K!5.!EV+.!*>!j'&)*#'<2!/F!"W'6.!/;I8.
GSH( E8$2:0(1"(J"1/'"#$'0(E84#(@4221#(-'(!%56$"'9(=.(J"'?
0%"$/#$12
>2@% DB416%C;4D68D65%EF%2%*4;;6<1%*0D?6J%,R$&.!:12!-&)!9*.!:D18!
,P#<+&'%&*!5.!4#Vd2!:F!H.B.!;/0F8.
>E@% 34K2E?61%289:0;65%DB;:%2%8;036J%,-#).!//FF2!4'5'6!4*7$8.
>8@%
DB416% 4:D1056% DB6% 84336;86% 47% 36<J% ,-#).! ///F2! 4'5'6!
4*7$8.
>5@% C;4C6;D061% 47% 1C4:161G% C2;6<D1% 2<5% 8B0?5;6<G% A2;51% 2<5%
=:2;502<1G% :<56;% DB6% ;61D;08D04<1% 03C4165% EF% ?2AJ% ,-#).!
//0D2!4'5'6!4*7$8.
(
!"#,( )))U,( @"'9$#1"0( 429( 4&&( 1#8'"( /'"0120( $2#'"'0#'9(
$2( <4\$2:( #8'( /"'0%"$/#$12( ';;'%#$O'( <4.( 4O4$&( #8'<0'&O'0(
#8'"'1;(21#7$#80#429$2:(#8'('b/"'00(1"(#4%$#("'262%$4#$12(=.(
#8'(9'=#1"(1"(/"1/"$'#1",
/Z
%
S;DJ%///]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
@ABBCDEF
G)H( M$:8#(1;(@"'9$#1"0(#1(B4\'(d0'(1;(J"'0%"$/#$12
%
C$<%*+!>*#!)W$!6<XS
!
%
PB0?6%;0=BD1%32F%E6%A20K65G%DB0;5%C6;14<1%A0DB%2%;0=BD%;68H
4=<0[65%EF%?2A%1B4:?5%<4D%E6%C;6R:50865J%,-#).!12!4'5'6!4*7$8.
GKH( Cb4</&'
(
%
*43%AB4%01%0<56ED65%D4%-084?6%289:0;65%2%C2;86?%47%?2<5%
EF%C;618;0CD04<J%"7%*43%;6<4:<861%DB6%C;618;0CD04<G%32F%-084?6%
32_6%:16%47%1205%?2<5d
%
!
-9R.S%e61G%D4%DB6%6MD6<D%47%B6;%8;650DG%07%*43%01%<4D%2E?6%D4%
C2F%B01%56EDJ%*43%01%<4D%2??4A65%D4%C;6R:5086%-084?6J
(
(
[4<="421(O,(@16"#(1;(E4b(!//'4&03('#(4&,
)*)(J8$&,()
(
!
P-4QRS%S?DB4:=B%DB6%;0=BD%47%DB6%.D2D6%D4%84??68D%DB6%D2M61%
B25%2?;625F%E66<%6MD0<=:01B65%EF%C;618;0CD04<G%D2MC2F6;%.23H
E;2<4%<6K6;DB6?611%6M68:D65%2%8B2DD6?%34;D=2=6%4<%B01%C;4C6;H
D061%D4%=:2;2<D66%DB6%C2F36<D%47%DB6%1236J%S1%2%32DD6;%47%728DG%
B6%28D:2??F%C205%C2;D%47%DB6%56EDJ!]%%V$S!!2<%.23E;2<4%?2D6;%4<%
;2016%DB6%011:6%47%C;618;0CD04<d
%
!
TN?=S%-4%34;6G%74;%B01%28D:2D04<1%234:<D%D4%2%;6<6A2?%
,#$+*5<&'*+8%47%DB6%4E?0=2D04<%4;%D4%2%A20K6;%47%DB6%E6<6!%D%=;2<D65%
EF%DB6%?2A%D4%B03J%+6%01G%DB6;674;6G%<4A%61D4CC65%7;43%;2010<=%DB6%
011:6%47%C;618;0CD04<J%`4;64K6;G%DB6%!4:;D%1205%DB2D%2%C;618;0E65%
56ED%32F%E6%DB6%1:ER68D%47%<4K2D04<J%,N%)#<7<!5.!j'66<#*$62!:0!
H.B.!RV((.!9*.!;2!D2!(.!I0/8.
!
!"#,( )))S,( E8'( /"1O$0$120( 1;( #8'( /"'0'2#( E$#&'( 4"'( 62?
9'"0#119(#1(='(7$#816#(/"'_69$%'(#1(784#($2(#8$0(@19'(1"($2(
0/'%$4&( &470( $0( '0#4=&$08'9( 7$#8( "'0/'%#( #1( 0/'%$!(%( %40'0( 1;(
/"'0%"$/#$12,
@ABBCDEF
G)H( [/'%$!(%(J"1O$0$120(12(J"'0%"$/#$12
%
%
.C680!%8% C;4K0104<1% 4<% C;618;0CD04<% 74:<5% 6?16AB6;6% 0<%
DB6%!456G%4;%0<%1C6802?%?2A1G%C;6K20?%4K6;%DB6%C;4K0104<1%47%DB01%
NT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%///]
!B2CD6;J%*B01%01%C2;D08:?2;?F%D;:6%0<%DB6%0<1D2<861%AB6<%1C680!%8%
C6;0451%47%C;618;0CD04<%2;6%C;4K0565%74;J
GKH( Cb4</&'0
>2@% S%?6=0D032D6%8B0?5%32F%E;0<=%2<%28D04<%D4%8?203%?6=0D0328F%
21%?4<=%21%W$!'%!<6'5$%>=6<6;2??F@J!,-#).!/GF2!P<O'6K!4*7$8.
>E@% S<%0??6=0D032D6%8B0?5%32F%E;0<=%2<%28D04<%D4%61D2E?01B%0?H
?6=0D032D6% !%?02D04<% 5:;0<=% B01% ?076D036% >=6<6;2??F@J% ,-#).!
/G;2!P<O'6K!4*7$8.
>8@%
*B6%;62?%;0=BD%47%C41161104<%47%;62?%C;4C6;DF%01%?41D%2D%DB6%
6<5%47%/T%F62;1J
>5@% *B6%C;486650<=%74;%DB6%C;4E2D6%47%2%A0??%<6K6;%C;618;0E61J%
,BV$5<#<!5.!BV$5<#<2!$)!<6.2!?A;:0;2!a<+.!F/2!/D;18.
>6@% *B6% C;486650<=% 74;% DB6% 56C4;D2D04<% 47% 2<% 2?06<% 3:1D% E6%
E;4:=BD%A0DB0<%!%K6%F62;1%7;43%DB6%52D6%DB6%82:16%74;%56H
C4;D2D04<%2;416J%,R$&.!FG2!]OO'e#<)'*+!-&)8.
%
%
j*B:1G%AB6;6%2<%2?06<%6<D6;65%DB6%,B0?0CC0<61%0??6=2??F%
0<%/ZZYG%E:D%B6%K04?2D65%DB6%"330=;2D04<%$2A%0<%NTT\%EF%
E;0<=0<=%0<%B01%A076%AB4%A21%+*)%?2A7:??F%6<D0D?65%D4%6<D6;%
4;% ;61056% 0<% DB6% ,B0?0CC0<61G% DB6% 56C4;D2D04<% C;486650<=%
84336<865%0<%NTT]%B25%<4D%C;618;0E65J%*B01%01%E682:16%DB6%
82:16%288;:65%0<%/ZZZJ%,R$$!"*#)<!"$#$d!5.!L*<#72!?ADIF12!
E<K!ID2!/D;G8Jk
>7@%
S<%28D04<%D4%2<<:?%2%12?6%47%1B2;61%47%1D48_%0<%2%84;C4;2H
D04<%01%K04?2D04<%47%DB6%.68:;0D061%S8D%E682:16%DB6;6%A21%<4%
C6;30D%74;%DB6%1236G%2<5%74;%DB6%;684K6;F%47%DB6%C:;8B216%
C;086%3:1D%E6%0<1D0D:D65%A0DB0<%2%C6;045%47%)X*!K$<#%!7;43%
DB6%52D6%47%DB6%12?6J%+6<86G%07%DB6%12?6%01%3256%4<%&8DJ%NQG%
NTTQG%E:D%DB6%28D04<%01%E;4:=BD%4<%-4KJ%NG%NTT]G%DB6%28D04<%
01% /T% 52F1% ?2D6G% 2<5% 82<% <4% ?4<=6;% E6% 6<D6;D20<65J% ,R$$!
L$+$7'&)*!5.!"W'6.!-O$#'&<+!P'+<+&$!<+7!=$5$6*(O$+)!4*.2!
?A31D;2!E<K!F/2!/D;G8.
>=@% "<%4;56;%D4%84<76;%R:;01508D04<%4<%DB6%!4:;D%47%*2M%SCC62?1G%
DB6%1:0D%74;%#$>V+7!47%D2M61%$##*+$*V%6K%4;%'66$e<66K!<%%$%%$7%
3:1D%E6%E;4:=BD%A0DB0<%DB6%1D2D:D4;F%C6;045%47%)X*!K$<#%G%
2<5%DB6%;69:0;636<D1%C;4K0565%0<%DB6%-2D04<2?%"<D6;<2?%
N/
%
S;DJ%///U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
b6K6<:6%!456%3:1D%E6%843C?065%A0DBJ%,4*66$&)*#!*>!]+)$#+<6!
C$5$+V$!5.!4*V#)!*>!Q<J!-(($<6%2!$)!<6.2!?A//:D:2!a<+.!I32!
/D1/8.
>B@% S<%28D04<%74;%2884:<D0<=%4;%;6?09:052D04<%47%2=;08:?D:;2?%
8;4C1% :<56;% C2;J% QG% .68J% /a% 47% b6CJ% S8D% //ZZ% 1B4:?5% E6%
E;4:=BD%A0DB0<%Q%F62;1%7;43%DB6%DB;61B0<=%47%DB6%8;4C1%0<%
9:61D04<J%,-e<)*+!E<)$*!5.!B#$e*#'*!=V#<+2!$)!<6.2!?A/:F/:2!
P$@.!II2!/D1/8.
(
!"#,( )))+,( J"'0%"$/#$12( 4&"'49.( "622$2:( =';1"'( #8'( ';?
;'%#$O$#.( 1;( #8$0( @19'( 084&&( ='( :1O'"2'9( =.( &470( /"'O$160&.(
$2(;1"%'c(=6#($;(0$2%'(#8'(#$<'(#8$0(@19'(#11\(';;'%#(#8'('2#$"'(
/'"$19( 8'"'$2( "'56$"'9( ;1"( /"'0%"$/#$12( 0816&9( '&4/0'3( #8'(
/"'0'2#(@19'(084&&(='(4//&$%4=&'3('O'2(#816:8(=.(#8'(;1"<'"(
&470(4(&12:'"(/'"$19(<$:8#(='("'56$"'9,(
@ABBCDEF
G)H( E"420$#$124&(M6&'0(;1"(J"'0%"$/#$12
>2@% "7%DB6%C6;045%74;%C;618;0CD04<%O(fS-%2<5%(-'('%:<56;%
DB6%&$'%?2A1G%1205%&$'%?2A1%=4K6;<J
>E@% "7%DB6%C6;045%74;%C;618;0CD04<%O(fS-%:<56;%DB6%-(P%!0K0?%
!456G%DB6%-(P%!0K0?%!456%=4K6;<1J
>8@%
"7% DB6% C6;045% E6=2<% :<56;% DB6% &$'% ?2AG% 2<5% 84<D0<:61%
:<56;%DB6%-(P%!0K0?%!456G%DB6%&$'%?2A%2CC?061J
%
NJ&$()'*+S
!
%
"<%DB01%DB0;5%;:?6G%0D%01%DB6%-(P%!0K0?%!456%DB2D%A0??%
2CC?FG%C;4K0565%DA4%84<50D04<1%2;6%C;616<DI
/@%
*B6%-(P%!0K0?%!456%;69:0;61%2%%W*#)$#%C6;045W
N@%
*B01%1B4;D6;%C6;045%B21%2?;625F%6?2C165%10<86%S:=J%
QTG%/Z]TG%DB6%52D6%AB6<%DB6%-(P%!0K0?%!456%E68236%
67768D0K6J
%
%
>*B:1G% DB6% C6;045% C;618;0E65% :<56;% DB6% -(P!
!456%1B4:?5%E6%84:<D65%7;43%S:=J%QTG%/Z]TJ%+4A6K6;G%
07%EF%DB01%36DB45%2%?4<=6;%C6;045%A4:?5%E6%<66565G%2%
NN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%///U
C6;045%DB2D%01%6K6<%?4<=6;%DB2<%DB2D%C;4K0565%:<56;%
DB6%&$'%?2AG%1205%&$'%?2A%2CC?061@J
GKH( Cb4</&'(1;(#8'(P$"0#(M6&'(Q$O'2
(
(
(
J4V(A2:0$4%1(429(#8'(a'$"0(1;(#8'
N4#'(!6:60#1(A2:0$4%1(O,(M1<42(I,(I4&&13('#(4&,
N?KXUS)3(P'=,(KR3()T+T
%
!
P-4QRS%S%843C?20<D%A21%!%?65%0<%/ZUU%2=20<1D%DB6%7230?F%
47%,2[%&<=10284%74;%;684K6;F%47%DB6%4A<6;1B0C%47%2%C2;86?%47%?2<5%
0<%!:F2C4G%-:6K2%(80R2J%"D%A21%2530DD65%EF%8?2032<D1%DB2D%10<86%
/ZN\%>\N%F62;1%E674;6%DB6%E2108%843C?20<D%A21%!%?65%0<%/ZUU@G%1205%
7230?F%B25%E66<%0<%C41161104<%47%DB6%?2<5%2<5%DB2D%1205%C41161H
104<%A21%;62??F%25K6;16%4;%0<%DB6%84<86CD%47%4A<6;J%+4A6K6;G%0D%
A21%2??6=65%DB2D%DB6%C41161104<%A21%0<%OS'%)S"*+J%]%%V$S!`2F%
;684K6;F%47%DB6%C;4C6;DF%E6%2??4A65d
%
!
TN?=S!b684K6;F%82<<4D%E6%2??4A65%74;%DB6%82:16%47%28D04<%
W<%!<6#$<7K!(#$%&#'@$7.!c<56;%S;DJ%///UG%0<%2%8216%?0_6%DB01G%DB6%
?2A%0<%74;86%E674;6%DB6%-6A%!0K0?%!456%1B4:?5%2CC?FJ%"D%01%8?62;%
DB2D%:<56;%1:8B%4?5%?2AG%DB6%!456%47%!0K0?%,;4865:;6G%e**7!*#!
@<7!><')W!X<%!'OO<)$#'<6!74;%C:;C4161%47%289:010D0K6%C;618;0CH
D04<J%,R$&.!:/8.%`4;64K6;G%6K6<%DB6%DB0;DFHF62;%C6;045%!%M65%0<%DB6%
-6A%!0K0?%!456%74;%DB6%289:010D04<%0<%E25%720DB%EF%C;618;0CD04<%
47%;62?%C;4C6;DF%B25%2?;625F%6MC0;65%AB6<%DB01%8216%A21%!%?65%0<%
/ZUUJ
GLH( Cb4</&'(1;(#8'(E8$"9(M6&'(Q$O'2
(
-!M
%
!
-2!A0DB%_<4A?65=6%DB2D%L%01%<4D%DB6%4A<6;%47%2%C2;86?%47%
?2<5G%E:F1%0D%74;%2%<430<2?%1:3%7;43%L!0<%/Z\\G%2<5%10<86%DB6<%
B21% E66<% 0<% 4C6<G% 28D:2?G% 84<D0<:4:1G% 2<5% C:E?08% C41161104<%
DB6;647G%:<56;%8?203%47%D0D?6%6M8?:10K6%47%2<F%4DB6;%;0=BD1%2<5%
25K6;16%D4%2??%4DB6;%8?2032<D1J%4G%DB6%;62?%4A<6;%47%DB6%?2<5G%
AB4%B21%?67D%0<%/Z\\%EF%;6214<%47%DB6%A2;G%A21%2E?6%D4%;6D:;<%D4%
DB6%?2<5%4<?F%0<%/Z]Y%2<5%?62;<0<=%47%-\%%C41161104<G%!%?61%1:0DJ%
-%8?2031%C;618;0CD04<%47%D6<%F62;1G%E682:16%B6%D44_%C41161104<%
47%DB6%?2<5%E674;6%DB6%<6A%!0K0?%!456W%E:D%4!84:<D6;1%DB2D%21%
NQ
%
S;DJ%///U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
-%6<D6;65%DB6%?2<5%0<%E25%720DBG%2<5%B6%B25%<4D%F6D%289:0;65%
4A<6;1B0C%EF%DB6%D036%DB6%-6A%!0K0?%!456%D44_%67768DG%DB6%C6;045%
01%)W'#)K!K$<#%%:<56;%DB6%-6A%!456J%'68056%A0DB%;6214<1J
%
!
-9R.S%"<213:8B%21%B6;6%DB6%C;618;0CD04<%A21%2?;625F%;:<H
<0<=%E674;6%S:=J%QTG%/Z]TG%0D%74??4A1%DB2D%4<?F%/T%F62;1%A4:?5%E6%
;69:0;65%E682:16%:<56;%DB6%!456%47%!0K0?%,;4865:;6G%#$e<#76$%%!*>!
e**7!><')W!*#!@<7!><')WG%DB6%C6;045%74;%289:0;0<=%?2<5%EF%C;618;0CH
D04<%A21%4<?F%/T%F62;1J%,R$&.!:/2!-&)!/D02!4*7$!*>!4'5'6!"#*&$7V#$!
<+7!H%*#'*!5.!Q<+!a*+eM*2!;/!H.B.!1II/8.%"DG%DB6;674;6G%74??4A1%
<686112;0?F%DB2D%0<%/Z]\G%-%B25%2?;625F%289:0;65%DB6%C;4C6;DF%EF%
289:010D0K6%C;618;0CD04<J%+6<86G%4%1B4:?5%?416%DB6%8216G%:<?611%
47%84:;16%DB6%?2<5%01%84K6;65%EF%2%*4;;6<1%!6;D0!%82D6%47%*0D?6J%
,H%*#'*!5.!Q<+!a*+eM*2!%V(#<8.
%
%
*B6%C6;045%47%/T%F62;1%3:1D%<686112;0?F%1D2;D%7;43%/Z\\G%
2<5%<4D%7;43%S:=J%QTG%/Z]TG%10<86%B6;6G%DB6%C;618;0CD0K6%C6;045%
:<56;%DB6%&$'%?2A%A21%.+&b*(bJ%+25%DB6%C6;045%:<56;%DB6%
4?5%?2A%E66<%$&-f(bG%0D%01%DB6%1B4;D6;%C6;045%:<56;%DB6%<6A%
!0K0?%!456%DB2D%1B4:?5%2CC?FG%E:D%DB01%D036G%DB6%C6;045%1B4:?5%
&*OO$+&$% 7;43% DB6% 52D6% 47% 67768D0K0DF% 47% DB6% <6A% !0K0?% !456%
h%S:=J%QTG%/Z]T%h%0<%K06A%47%DB6%8?2:16%VE:D%07%10<86%)W$!)'O$!
)W'%!4*7$!)**M!$>>$&)!.!.!JX
GUH( Cb4</&'(1;(#8'(Cb%'/#$12
(
%
c<56;%DB6%4?5%?2A%DB6%C6;045%A21%/T%F62;1%>21%0<%DB6%8216%47%
;65:8D04<%47%2%54<2D04<%47%?2<5%4<%DB6%=;4:<5%47%@'#)W%47%2%8B0?5@G%
E:D%:<56;%DB6%-6A%!0K0?%!456G%DB6%C6;045%01%4<?F%\%F62;1G%84:<D65%
7;43%DB6%E0;DB%47%DB6%!%;1D%8B0?5J%,-#).!G1F8.%"D%01%8?62;%B6;6%DB2D%
DB6%-6A%!0K0?%!456%>\%F62;1@%A0??%2CC?FG%6K6<%07%DB6%54<2D04<%
2<5%DB6%E0;DB%488:;;65%:<56;%DB6%4?5%?2AG%E:D%DB6%C6;045%1B4:?5%
E6%84:<D65%7;43%S:=J%QTG%/Z]TG%:<?611%0<%14%540<=G%2%C6;045%47%
34;6%DB2<%/T%F62;1%A4:?5%;61:?DJ
GSH( [1<'(I1%#"$2'0
>2@% "<% N%)<K*! 5.! =$! BVdO<+2! ?A/0D0I2! =$&.! ID2! /D;32! DB6%
.:C;636%!4:;D%B6?5%DB2D%AB6<%DB6%28D04<%D4%6<74;86%DB6%
34;D=2=6%C;616<D65%21%2<%2CC62?%E4<5%0<%2%84:;D%28D04<%E6H
8236%67768D0K6%EF%DB6%6<D;F%47%DB6%R:5=36<D%47%DB6%.:C;636%
!4:;D%4<%S:=J%UG%/Z\TG%DB6%6<8:3E;2<86%32F%E6%82<86??65%
27D6;%S:=J%UG%/Z]TJ
N\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%///U
>E@% "<%H+e%'<M*2!$)!<6.!5.!H+e%'<M*2!$)!<6.2!?AG;/02!E<#.!F02!/D;G2%
DB6%.:C;636%!4:;D%B6?5%DB2D%S;DJ%///U%>!0K0?%!456@%C;6K20?1%
4K6;%DB6%=6<6;2?%D;2<10D4;F%;:?6%0<%S;DJ%NN]Y%>!0K0?%!456@%
AB08B% C;4K0561% DB2D% 28D04<1% 2<5% ;0=BD1% AB08B% 8236% 0<D4%
E60<=%E:D%AB08B%A6;6%<4D%6M6;80165%E674;6%DB6%67768D0K0DF%47%
DB6%!456G%1B2??%;6320<%0<%7:??%74;86%0<%84<74;30DF%A0DB%DB6%
4?5%?6=01?2D04<G%E:D%DB6%6M6;8016G%5:;2D04<G%2<5%C;4865:;6%
D4%6<74;86%DB63%1B2??%E6%;6=:?2D65%EF%DB6%b:?61%47%!4:;DJ
>8@%
"<% ! L*##*O$*! 5.! l<@<66$#*2! ?A/:F;G2! -Ve.! F/2! /D102% 2%
C;430114;F%<4D6%A21%6M68:D65%0<%/ZQ]G%C2F2E?6%0<%/ZQaJ%
*B6%8?203%74;%C2F36<D%A21%C;616<D65%0<%DB6%16DD?636<D%47%
DB6%61D2D6%47%DB6%56862165%56ED4;%0<%.6CDJ%/Z]]J%*B6%!4:;D%
;:?65% DB2D% DB6% D6<HF62;% C6;045% 47% C;618;0CD04<% :<56;% S8D%
/ZT%B25%2?;625F%?2C165J
>5@% "<%9<e#<O(<2!$)!<6.!5.!9<e#<O(<2!?A/;:F:2!H&).!F/2!/D102%
DB6%!4:;D%4E16;K65%DB2D%:<56;%DB6%4?5%?2AG%<4%1C6802?%C6;045%
47%C;618;0CD04<%A21%!%M65%74;%DB6%;6K482D04<%47%54<2D04<1%74;%
<4<H843C?02<86%A0DB%DB6%84<50D04<1%1D0C:?2D65J%+4A6K6;G%
:<56;%DB6%-6A%!0K0?%!456%,-#).!G1:8G%DB6%C6;045%!%M65%74;%
1:8B%2%8216%01%\%F62;1J%*B6%1:0D%A21%!%?65%0<%^:?FG%/Z]YG%2?H
?6=0<=%DB2D%DB6%C?20<D0771%B25%5632<565%843C?02<86%k!!5$!
F62;1%2=4G%E:D%DB6%5676<52<D%;67:165JX%*B6%!4:;D%B6?5%DB2D%
DB6%6<D0;6%C6;045%47%74:;%F62;1%!%M65%EF%DB6%-6A%!0K0?%!456%
B21%6?2C165%10<86%0D%D44_%67768D%0<%/Z]TJ%.:0D%A21%!%?65%4<?F%
0<%^:?FG%/Z]Y%74;%2%K04?2D04<%3256%0<%/Z]QJ
>6@% "<%-O<#!5.!H7'<+<+2!?A/;/GD2!R$().!F02!/D10G%2%843C?20<D%
74;%DB6%;684K6;F%47%?2<5%A21%!%?65%0<%9*5$O@$#2!/D:32%2?H
?6=0<=%DB2D%0<%SC;0?G%/Z\YG%DB6%?2<5%B25%E66<%160[65%EF%DB6%
5676<52<D%EF%362<1%47%7;2:5G%56860DG%2<5%1D;2D6=FJ%"D%A21%
B6?5%DB2D%DB6%4?5%?2AG%.68J%\T%47%S8D%/ZT%>AB08B%C;4K0565%
DB2D%2<%28D04<%74;%DB6%;684K6;F%47%;62?%C;4C6;DF%82<%4<?F%E6%
E;4:=BD%A0DB0<%/T%F62;1@%A21%2CC?082E?6G%2<5%DB2D%DB6;6H
74;6G%DB6%28D04<%B21%2?;625F%C;618;0E65J
>7@%
"<%"9L!5.!B<6'&<+*!-7*#!='*+'%'*2!?A/3F:I2!R$().!/D2!/D1F2!
0D%A21%B6?5%DB2D%2%R:5=36<D%DB2D%B25%E68436%!%<2?%0<%/Z\Z%
84:?5%+*)%E6%;6K0K65%2<F34;6%0<%/ZUT%>?2C16%47%34;6%DB2<%
/T% F62;1@G% 561C0D6% A;0DD6<% 6MD;2R:50802?% 5632<5% 0<% /Z]\%
74;%DB6%12D01728D04<%47%DB6%R:5=36<DJ%*B01%01%E682:16%DB01%
N]
%
S;DJ%///U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
8216%01%=4K6;<65%+*)!EF%S;DJ%//]]%47%DB6%!0K0?%!456G%E:D%EF%%
.68J%]T%47%DB6%!456%47%!0K0?%,;4865:;6%>AB08B%168D04<%5461%
+*)%1D2D6%DB2D%1:8B%A;0DD6<%6MD;2R:50802?%5632<51%0<D6;;:CD%
DB6%C;618;0CD0K6%C6;045@J%*B6%4?5%?2A%2CC?061%E682:16%S;DJ%
///U%12F1%VC;618;0CD04<%<6#$<7K!;:<<0<=%E674;6%DB6%67768H
D0K0DF%47%DB01%!456%1B2??%E6%=4K6;<65%EF%?2A1%C;6K04:1?F%0<%
74;86%J%J%JX
NU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
,/01234!8
)*%+,*#)"#-.!-9!-:.%*+;#)!
7.<!-";%*!*%7$!*#6;"+
(
!"#,()))X,(!%56$0$#$O'(/"'0%"$/#$12(1;(91<$2$12(429(1#8'"(
"'4&("$:8#0(<4.(='(1"9$24".(1"('b#"41"9$24".,
(
A"9$24".(4%56$0$#$O'(/"'0%"$/#$12("'56$"'0(/100'00$12(1;(
#8$2:0($2(:119(;4$#8(429(7$#8(_60#(#$#&'(;1"(#8'(#$<'(!(b'9(=.(
&47,(
@ABBCDEF
G)H( M'56$0$#'0(@1<<12(#1(A"9$24".(429(Cb#"41"9$24".(J"'?
0%"$/#$12
>2@% 82C280DF%47%<&YV'#$#!D4%289:0;6%EF%C;618;0CD04<
>E@% 82C280DF%47%6*%$#!D4%?416%EF%C;618;0CD04<
>8@%
4ER68D%3:1D%E6%1:186CD0E?6%47%C;618;0CD04<
>5@% ?2C16%47%;69:0;65%C6;045%47%D036
>6@% DB6%C41161104<%3:1D%E6I
/@%
0<%&*+&$()*!7$!7V$c*!>84<86CD%47%4A<6;@
N@%
C:E?08%><4D%8?2<561D0<6%4;%<4<H2CC2;6<D@
Q@%
C62867:?%><4D%DB;:%74;86G%K04?6<86G%4;%0<D03052D04<@
\@%
84<D0<:4:1%4;%:<0<D6;;:CD65
%
!
_9HQNS!c<56;%DB6%4?5%?2A%h%DB6%!456%47%!0K0?%
,;4865:;6%AB6DB6;%DB6%C41161104<%A21%0<%=445%720DB%
4;% 0<% E25% 720DB% 505% +*)! 32DD6;J% *B6% C6;045% 74;% 03H
34K2E?61%A21%2?A2F1%/T%F62;1J%S?14G%DB6%C41161104<%
<665%<4D%E6%C62867:?J%,R$$!-#@*%*!5.!-+7#<7$2!3G!"W'6.!
G3I8.%+4A6K6;G%DB6%C41161104<G%6K6<%:<56;%DB6%4?5%?2A%
Na
%
S;DJ%///Y
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
B25%D4%E6%:<0<D6;;:CD65G%28D:2?G%6M8?:10K6G%2<5%<4D%
36;6?F%D4?6;2D65J%,R$$!"<%&V<6!5.!E'+<2!I0!"W'6.!I0I!
<+7!j'66<+V$5<!5.!"#*)<&'*2!4-ABC!G;D/AC2!E<#.!II2!
/D;;8.`
GKH( !99$#$124&(M'56$0$#'0
>2@% 74;%&b'"-Sbe%C;618;0CD04<
/@%
=445%720DB
N@%
R:1D%D0D?6%>DB6;6%A21%2%O*7$%47%289:0;0<=%4A<6;1B0C%
E:D%DB6%=;2<D4;%A21%+*)!DB6%4A<6;W%B6<86G%DB6%R:1D%
D0D?6%B6;6%01%k)')V6*!&*6*#<7*m%4;%V84?4;2E?6%D0D?6X@J
>E@% 74;% (g*bS&b'"-Sbe% C;618;0CD04<% ><4% 4DB6;% ;69:010D61%
6M86CD%DB416%36<D04<65%0<%!4336<D%-4J%/%:<56;%DB01%S;H
D08?6%2;6%;69:0;65@J
(
!"#,()))R,(J100'00$12(840(#1(='($2(#8'(%12%'/#(1;(42(172'"3(
/6=&$%3(/'4%';6&(429(62$2#'""6/#'9,
@ABBCDEF
G)H( @84"4%#'"$0#$%0(1;(#8'(J100'00$12(D''9'9(;1"(J"'0%"$/?
#$12
%
%
.66%DB01%S;D08?6J%.66%2?14%DB6%84336<D1%0<%DB6%C;68650<=%
S;D08?6J
GKH( J100'001"($2(#8'(@12%'/#(1;(a1&9'"
%
%
S%C4116114;%0<%DB6%84<86CD%47%B4?56;%82<<4D%289:0;6%C;4C6;DF%
EF%C;618;0CD04<%E682:16%B01%C41161104<%01%+*)%25K6;16J%*B:1G%DB6%
C41161104<%47%?2<5%0<%DB6%82C280DF%47%<7O'+'%)#<)*#%>36;6%B4?56;@%
82<<4D%;0C6<%0<D4%4A<6;1B0CJ%,C<+U*!5.!"<K*O<2!?A/3112!E<K!F02!
/D;/8.%-60DB6;%01%DB6%C41161104<%EF%2%34;D=2=66%25K6;16J%,B<#&'<!
5.!-#U*+<2!?AGIGD2!H&).!ID2!/D;;8.
GLH( A72'"?!9<$2$0#"4#1"
%
%
*B6%36;6%728D%DB2D%DB6%C6;14<%AB4%8?2031%4A<6;1B0C%47%DB6%
C;4C6;DF%<6%*!<7O'+'%)$#%%DB6%1236%5461%<4D%30?0D2D6%2=20<1D%
0D1%289:010D04<%47%DB6%C;4C6;DF%EF%C;618;0CD04<J%*B6%728D%DB2D%B6%
NY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;D1J%///ZH//NT
1D2D65%DB2D%B6%2530<01D6;65%DB6%C;4C6;D061%0<%9:61D04<%5461%<4D%
<686112;0?F%03C?F%DB2D%B6%01%<4D%DB6%4A<6;%DB6;647%74;%86;D20<?F%
2<%4A<6;%47%2%C;4C6;DF%82<%E6%0D1%4A<%2530<01D;2D4;J%,BV<#'+2!
$)!<6.!5.!=$!j$#<2!?AD;GG2!P$@.!I32!/D;G8.
(
!"#,()))T,(!%#0(1;(/100'001".(%84"4%#'"('b'%6#'9($2(O$"?
#6'(1;(&$%'20'(1"(=.(<'"'(#1&'"42%'(1;(#8'(172'"(084&&(21#(='(
4O4$&4=&'(;1"(#8'(/6"/10'0(1;(/100'00$12,
@ABBCDEF
(
J100'00$12(=.(N$%'20'(1"(E1&'"42%'(1;(A72'"
%
%
"<%C41161104<%EF%6'&$+%$%4;%)*6$#<+&$G%DB6;6%01%03C?065%;68H
4=<0D04<%47%4A<6;1B0C%;61050<=%0<%S-&*+(bJ%,R$$!E<&<6)<*!5.!
4<%)#*2!4-ABC!II:03AC2!-Ve.!/I2!/D1F8.
(
!"#,())K*,(J100'00$12($0($2#'""6/#'9(;1"(#8'(/6"/10'0(1;(
/"'0%"$/#$123(24#6"4&&.(1"(%$O$&&.,
@ABBCDEF
G)H( a17(J100'00$12(>0(>2#'""6/#'9(;1"(J6"/10'0(1;(J"'0%"$/?
#$12
>2@% <2D:;2??FJ%,-#)%.!//I/2!//II2!4'5'6!4*7$8.
>E@% 80K0??FJ%,-#)%.!//IF2!//I:2!4'5'6!4*7$8.
GKH( D4#6"4&(>2#'""6/#$12
%
%
"7%C;618;0CD04<%01%'+)$##V()$72%DB6%4?5%C41161104<%A0??%e$+$#A
<66K!<4D%E6%84:<D65W%DB6%C6;045%3:1D%E6=0<%2??%4K6;%<e<'+.
GLH( [60/'20$12(1;(J"'0%"$/#$12
%
%
"7%C;618;0CD04<%01%O$#$6K!%V%($+7$7!>21%501D0<=:01B65%7;43%
'+)$##V()'*+@G%DB6%4?5%C41161104<%A0??%E6%S''('J%*B01%32F%B2CH
C6<%AB6<%5:;0<=%A2;G%DB6%80K0?%84:;D1%2;6%-&*%4C6<%,-#)%.!//F12!
4'5'6!4*7$8i%4;%AB6<%DB6;6%01%2%34;2D4;0:3%4<%DB6%C2F36<D%47%
56ED1J%,Q<6$+%2!$)!<6.!5.!4WV<M<K!<+7!4*.2!BC!?A/0/IG2!aV+.!F02!
NZ
%
S;D1J%//N/H//NQ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
/D;3!2<5!C'*!<+7!4*.!5.!=<)V!a*6M'(6'2!BC!?A/IF0/2!-(#.!/F2!
/D;D8.
(
!"#,( ))K),( J100'00$12( $0( 24#6"4&&.( $2#'""6/#'9( 78'2(
#8"16:8(42.(%460'($#(0816&9(%'40'(;1"(<1"'(#842(12'(.'4",
(
E8'( 1&9( /100'00$12( $0( 21#( "'O$O'9( $;( 4( 2'7( /100'00$12(
0816&9(='('b'"%$0'9(=.(#8'(04<'(49O'"0'(%&4$<42#,
@ABBCDEF
G)H( YD4#6"4&(>2#'""6/#$12Z(I'!(2'9
%
%
*B6%56!%<0D04<%01%03C?065%0<%DB6%!%;1D%C2;2=;2CBJ%-4D6%DB6%
CB;216%V2<F%82:16JX
GKH( M'4012(;1"(#8'(J'"$19(>2O1&O'9
%
%
,41161104<%7$!><&)*%01%?41D%07%DB6%C;4C6;DF%E6%0<%DB6%C41161H
104<%47%2<4DB6;%74;%34;6%DB2<%4<6%F62;J%+6<86G%07%DB6%C41161104<%
47%2<4DB6;%B21%E66<%74;%*+$!K$<#!*#!6$%%2!0D%01%21%07%DB6;6%A21%<4%
0<D6;;:CD04<J%,-#).!//II2!4'5'6!4*7$8.
GLH( M'4012(;1"(#8'(D12?M'O$O4&(1;(#8'(J100'00$12
%
%
,41161104<%B6;6%3:1D%E6%84<D0<:4:1%2<5%<4D%0<D6;;:CD65J
(
!"#,())KK,(>;(#8'(24#6"4&($2#'""6/#$12($0(;1"(12&.(12'(.'4"(
1"(&'003(#8'(#$<'('&4/0'9(084&&(='(%162#'9($2(;4O1"(1;(#8'(/"'?
0%"$/#$12,
@ABBCDEF
(
*B6%S;D08?6%6MC?20<1%0D16?7J
(
!"#,())KL,(@$O$&($2#'""6/#$12($0(/"196%'9(=.(_69$%$4&(06<?
<120(#1(#8'(/100'001",
@ABBCDEF
(
Y@$O$&(>2#'""6/#$12Z(I'!(2'9
%
%
*B6%56!%<0D04<%01%03C?080D%0<%DB6%S;D08?6J
QT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;D1J%//N\H//N]
(
!"#,())KU,(^69$%$4&(06<<120(084&&(='(9''<'9(21#(#1(84O'(
=''2($006'9(429(084&&(21#(:$O'("$0'(#1($2#'""6/#$12F
(
G)H( >;($#(0816&9(='(O1$9(;1"(&4%\(1;(&':4&(01&'<2$#$'0c
(
GKH( >;(#8'(/&4$2#$;;(0816&9(9'0$0#(;"1<(#8'(%1</&4$2#(1"(
0816&9(4&&17(#8'(/"1%''9$2:0(#1(&4/0'c
(
GLH( >;(#8'(/100'001"(0816&9(='(4=01&O'9(;"1<(#8'(%1<?
/&4$2#,
(
>2(4&&(#8'0'(%40'03(#8'(/'"$19(1;(#8'($2#'""6/#$12(084&&(='(
%162#'9(;1"(#8'(/"'0%"$/#$12,
@ABBCDEF
G)H( `8'2( ^69$%$4&( [6<<120( @4221#( -'( @120$9'"'9( @$O$&(
>2#'""6/#$12
%
%
*B;66%0<1D2<861%2;6%=0K6<%0<%DB6%S;D08?6J
!
!
9HQNS%"7%DB6%C4116114;1%2;6%1:65G%E:D%636;=6%5'&)*#'*V%2!0D%
01%21%07%DB6;6%A21%<4%0<D6;;:CD04<%5:;0<=%DB6%C6;045%47%DB6%1:0DJ%
,?<&V$%)<!5.!BV$##$#*2!3!"W'6.!G/D8.
GKH( !//4"'2#(>2#'""6/#$12
%
%
"<%DB6%DB;66%82161%=0K6<%2E4K6G%0D%01%21%07%DB6;6%A21%-&%0<H
D6;;:CD04<J%V"<D6;;:CD04<X%0<%DB6%?21D%16<D6<86%1B4:?5%DB6;674;6%
;625%21%k<((<#$+)!'+)$##V()'*+m%10<86%:<56;%DB6%?2A%DB6;6%A21%
<6K6;%2<%0<D6;;:CD04<J%>.66%!%;1D%16<D6<86@J
GLH( !//&$%4=$&$#.( #1( !%56$0$#$O'3( D1#( Cb#$2%#$O'( J"'0%"$/?
#$12
%
%
"<%-O<#!5.!H7'<+<+!,?A/;/GD2!R$().!F02!/D1082!DB6%!4:;D%
B6?5%DB2D%S;D1J%/Z\QG%/Z\]G%2<5%/Z\U%47%DB6%*67!4'5'6!4*7$!>2<5%
7;43%AB08B%-#)%.!//I02!//IF2!<+7!//I:!47%DB6%9$X%!0K0?%!456%
A6;6%D2_6<@G%;676;%D4%0<D6;;:CD04<%47%C41161104<%0<%;6?2D04<%D4%
<&YV'%')'5$!C;618;0CD04<G%2<5%<4D%D4%82161%47%6MD0<8D0K6%C;618;0CH
D04<J
(
!"#,( ))KS,( !2.( 'b/"'00( 1"( #4%$#( "'%1:2$#$12( 78$%8( #8'(
/100'001"(<4.(<4\'(1;(#8'(172'"Z0("$:8#(4&01($2#'""6/#0(/10?
0'00$12,
Q/
%
S;DJ%//NU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
@ABBCDEF
G)H( M'%1:2$#$12(=.(J100'001"(1;(A72'"Z0(M$:8#
%
!
C$<%*+!>*#!)W$!-#)'&6$%h%+6;6%DB6%C41161104<%01%+*!?4<=6;%
0<%&*+&$()*!7$!7V$c*%4;%<75$#%$.
GKH( Cb4</&'
%
%
*B6%28D%47%2%=4K6;<36<D%47!%802?G%5:?F%2:DB4;0[65%D4%14%28DG%
0<%;684=<0[0<=%4A<6;1B0C%47%?2<5%0<%2%C;0K2D6%C6;14<G%0<D6;;:CD1%
C41161104<% EF% DB6% 3:<080C2?0DF% 84<86;<65J% ,R$O'+<#K! *>! R<+!
4<#6*%!5.!EV+.!*>!4$@V2!/D!"W'6.!FI8.
!
!"#,())K+,(!:4$20#(4(#$#&'("'%1"9'9($2(#8'(M':$0#".(1;(J"1/?
'"#.3(1"9$24".(/"'0%"$/#$12(1;(172'"08$/(1"("'4&("$:8#0(084&&(
21#(#4\'(/&4%'(#1(#8'(/"'_69$%'(1;(4(#8$"9(/'"0123('b%'/#($2(
O$"#6'(1;(421#8'"(#$#&'(4&01("'%1"9'9c(429(#8'(#$<'(084&&(=':$2(
#1("62(;"1<(#8'("'%1"9$2:(1;(#8'(&4##'",
(
!0(#1(&4290("':$0#'"'9(629'"(#8'(N429(M':$0#"4#$12(!%#3(
#8'(/"1O$0$120(1;(#84#(0/'%$4&(&47(084&&(:1O'"2,
@ABBCDEF
G)H( J"'0%"$/#$12(1;(E$#&'0(M'%1"9'9($2(M':$0#".(1;(J"1/'"#.
>2@% "D%01%8?62;%DB2D%S;DJ%//NU%5461%-&*%;676;%D4%?2<5%;6=01D6;65%
:<56;%DB6%$2<5%b6=01D;2D04<%$2A%>A0DB%2%*4;;6<1%*0D?6@J
>E@% "DG%B4A6K6;G%;676;1%D4%2??%4DB6;%?2<51J
>8@%
NJ<O(6$S
%
%
S;82504%01%DB6%4A<6;%47%?2<5%+*)!C;4D68D65%EF%2%*4;H
;6<1% *0D?6J% +01% ;0=BD% 01G% B4A6K6;G% 5:?F% ;6=01D6;65% 0<% DB6%
b6=01D;F%>74;%DB6%5665%47%12?6%0<%B01%72K4;%B21%E66<%5:?F%
;6=01D6;65@J
/@%
"7%S;D6304G%2%1D;2<=6;G%D2_61%C41161104<%47%DB6%?2<5%
0<%=445%720DB%>7;43%2%16??6;H74;=6;@G%01%DB6;6%2%8B2<86%
74;%B03%D4%E68436G%27D6;%/T%F62;1G%DB6%4A<6;%47%DB6%
?2<5G%21%2=20<1D%S;82504d
QN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//NU
%
!
-9R.S!e61G%27D6;%2??G%S;82504%01%<4D%C;4D68D65%EF%
2%*4;;6<1%*0D?6J%+6%86;D20<?F%01%+*)!DB6%DB0;5%C6;14<%
;676;;65%D4%0<%DB6%S;D08?6J%,R$$!R'%*+!5.!C<O*%2!/F!"W'6.!
;:8.!*B:1G%21%E6DA66<%S;82504%2<5%S;D6304G%S;D6304%
E684361%DB6%4A<6;%2D%DB6%6<5%47%/T%F62;1J
N@%
.:CC416% /N% F62;1% 27D6;% S;D6304% D2_61% C41161104<G%
S;82504% 16??1% DB6% ?2<5% D4% O6<6508D4G% 2<% 0<<486<D%
C:;8B216;%74;%K2?:6%>AB4G%0<%0<K61D0=2D0<=%S;82504L1%
D0D?6%74:<5%DB2D%DB6%C;4C6;DF%A21%0<5665%;6=01D6;65%0<%
S;82504L1%<236@G%A0??%O6<6508D4%E68436%DB6%4A<6;d
%
!
-9R.S%e61G%74;%0<1472;%21%DB6%'++*&$+)!X*#67%A21%
84<86;<65G% S;82504% A21% 1D0??% DB6% 4A<6;% 2D% DB6% D036%
B6% 14?5% 0D% D4% O6<6508D4J% +6% 84:?5% DB6;674;6% K2?05?F%
D;2<176;%4A<6;1B0C%D4%O6<6508D4%S;D6304L1%C;618;0CH
D0K6%;0=BD%1B4:?5%8?62;?F%+*)!C;6R:5086%O6<6508D4J
%
%
>9HQNS% "7% S;D6304% B25% 82:165% B01% D0D?6% D4% E6%
;6=01D6;65G%B6%84:?5%B2K6%E68436%DB6%4A<6;%0<1472;%21%
DB6%6<D0;6%A4;?5%A21%84<86;<65G%+*)%7;43%DB6%D036%B6%
;6=01D6;65%DB6%74;=65%5665%47%12?6%0<%B01%72K4;%E:D%7;43%
DB6%D036%47%DB6%?2C16%47%/T%F62;1%27D6;%1:8B%;684;50<=J%
PB2D% E6=0<1% D4% ;:<% 7;43% 1:8B% ;684;50<=% 01% +*)! DB6%
4A<6;1B0CG%E:D%DB6%C6;045%4;%D036%74;%C;618;0CD04<J@
GKH( N4290(M':$0#'"'9(d29'"(#8'(N429(M':$0#"4#$12(N47
%
%
$2<51% ;6=01D6;65% :<56;% DB6% *4;;6<1% 1F1D63% 82<<4D% E6%
289:0;65%EF%C;618;0CD04<%,-6>*+%*!5.!a<KO$2!?A/IG;:2!a<+.!F02!
/D108%E:D%DB01%;:?6%82<%E6%0<K4_65%4<?F%@K!*+$!V+7$#!XW*%$!+<O$%
>4;%:<56;%AB416%C;65686114;L1%<236@%')!X<%!#$e'%)$#$7.!,a*&%*+2!
$)!<6.!5.!R'6*%2!?A/IDD32!aV6K!I;2!/D108.
(
(
!&;1201(O,(^4.<'
N?)KXSU3(^42,(L*3()T+*
%
!
P-4QRS%,?20<D077L1%?2<5G%C;4D68D65%EF%2%*4;;6<1%*0D?6G%A21%
D2_6<%EF%,212F%!0DF%74;%84<K6;104<%0<D4%2%;425%0<%/ZN]G%X')W*V)!
843C6<12D04<J%"<%/Z]\G%C?20<D077%1:65%74;%;684K6;F%47%DB6%?2<5%4;%
0D1%K2?:6J
%
%
TN?=S!.0<86%DB6%?2<5%A21%:<56;%B01%<236%:<56;%DB6%*4;H
;6<1%1F1D63G%C?20<D077%;6320<65%4A<6;G%2<5%84:?5%;684K6;%C41161H
QQ
%
S;D1J%//NaH//NY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
104<%2D%2<F%D036J%+4A6K6;G%E682:16%0D%01%<4A%2%b&S'G%0D%01%<4D%
84<K6<06<D%D4%;61D4;6%0D%D4%C?20<D077J%,212F%!0DF%A21%4;56;65%D4%
C2F%843C6<12D04<%E2165%4<%DB6%K2?:6%47%DB6%?2<5%0<%/ZN]G%A0DB%
?6=2?%0<D6;61D%21%5232=61J
(
(
^1%0123('#(4&,(O,([$&10
N?)KTTR3(^6&,((KS3()T+*
%
!
P-4QRS!S%A054A6;%14?5%&*+UVe<6!C;4C6;DFG%;6=01D6;65%:<56;%
W'%!+<O$%:<56;%DB6%*4;;6<1%1F1D63G%D4%2<%0<<486<D%C:;8B216;%
74;%K2?:6G%AB4%A21%1:E169:6<D?F%=0K6<%4;%011:65%2%<6A%D;2<176;%
86;D0!%82D6% 47% D0D?6G% :<56;% B01% >DB6% E:F6;L1@% <236J% QX$+)KA)X*%
F62;1%?2D6;G%DB6%B60;1%47%DB6%56862165%1C4:16%>DB6%A076@%1:65%74;%
2<<:?36<D%47%DB6%12?6%A0DB%;61C68D%D4%4<6HB2?7%47%DB6%?2<5J
%
!
TN?=S%*B6%1:0D%74;%2<<:?36<D%2<5%;684K6;F%B21%2?;625F%
C;618;0E65J%*B6%8?203%47%03C;618;0CD0E0?0DF%A4:?5%B2K6%E66<%84;H
;68D%07%DB6%?2<5%B25%E66<%;6=01D6;65%0<%DB6%<236%47%DB6%WV%@<+7!
<+7!X'>$G%<4D%0<%DB6%<236%47%DB6%B:1E2<5%2?4<6J
%
(
!"#,())KX,(E8'(:119(;4$#8(1;(#8'(/100'001"(%120$0#0($2(#8'(
"'40124=&'(='&$';(#84#(#8'(/'"012(;"1<(781<(8'("'%'$O'9(#8'(
#8$2:(740(#8'(172'"(#8'"'1;3(429(%16&9(#"420<$#(8$0(172'"?
08$/,
@ABBCDEF
(
YQ119(P4$#8(1;(J100'001"Z(I'!(2'9
%
%
-4D6%DB2D%DB6%56!%<0D04<%B6;6%47%=445%720DB%2CC?061%0<%84<H
<68D04<%A0DB%(#$%&#'()'*+J
(
!"#,( ))KR,( E8'( %129$#$120( 1;( :119( ;4$#8( "'56$"'9( ;1"(
/100'00$12($2(!"#$%&'0(SK+3(SKX3(SKR3(429(SKT(1;(#8$0(@19'(4"'(
&$\'7$0'(2'%'004".(;1"(#8'(9'#'"<$24#$12(1;(:119(;4$#8($2(#8'(
/"'0%"$/#$12(1;(172'"08$/(429(1#8'"("'4&("$:8#0,
@ABBCDEF
G)H( A#8'"(M'56$0$#'0(;1"(Q119(P4$#8
%
%
*B6% ;69:010D61% 0<% DB6% S;D08?61% 36<D04<65% 3:1D% S$$% E6%
C;616<D%h%4DB6;A016%DB6;6%01%<4%=445%720DBJ
Q\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//NY
>2@% S;DJ%]NUJ%+6%01%566365%2%C4116114;%0<%=445%720DB%AB4%01%<4D%
2A2;6%DB2D%DB6;6%6M01D1%0<%B01%D0D?6%4;%3456%47%289:010D04<%
2<F%"%2A%AB08B%0<K2?052D61%0DJ
%
+6%01%566365%2%C4116114;%0<%E25%720DB%AB4%C41161161%0<%2<F%
8216%84<D;2;F%D4%DB6%74;6=40<=J
%
`01D2_6%:C4<%2%54:ED7:?%4;%507!%8:?D%9:61D04<%47%?2A%32F%
E6%DB6%E2101%47%=445%720DBJ
>E@% S;DJ%]NaJ%f445%720DB%01%2?A2F1%C;61:365G%2<5%:C4<%B03%
AB4%2??6=61%E25%720DB%4<%DB6%C2;D%47%2%C4116114;%;61D1%DB6%
E:;56<%47%C;447J
>8@%
S;DJ%]NYJ%,41161104<%289:0;65%0<%=445%720DB%5461%<4D%?416%
DB01% 8B2;28D6;% 6M86CD% 0<% DB6% 8216% 2<5% 7;43% DB6% 3436<D%
728D1%6M01D%AB08B%1B4A%DB2D%DB6%C4116114;%01%<4D%:<2A2;6%
DB2D%B6%C41161161%DB6%DB0<=%03C;4C6;?F%4;%A;4<=7:??FJ
>5@% S;DJ%]NZJ%"D%01%C;61:365%DB2D%C41161104<%84<D0<:61%D4%E6%
6<R4F65%0<%DB6%1236%8B2;28D6;%0<%AB08B%0D%A21%289:0;65G%
:<D0?%DB6%84<D;2;F%01%C;4K65J
GKH( P1"(a17(N12:(#8'(Q119(P4$#8(B60#(N40#
%
%
*B6%=445%720DB%3:1D%?21D%DB;4:=B4:D%DB6%;69:0;65%C6;045J%
,QR2!a<+.!I;2!/D:;8.
GLH( Q119(P4$#8(@842:$2:(#1(-49(P4$#8
%
%
"D%01G%B4A6K6;G%C4110E?6%DB2D%DB6%=445%720DB%32F%?2D6;%8B2<=6%
D4%E25%720DBJ%"<%1:8B%2%8216G%B4A%32<F%34;6%F62;1%47%C41161104<%
A4:?5%E6%;69:0;65d
%
-9R.S
>2@% )4;%;62?%C;4C6;DFG%)W#$$%F62;1%47%C41161104<%0<%@<7%720DB%
A4:?5% E6% 69:0K2?6<D% D4% *+$% F62;% 47% C41161104<% 0<% =445%
720DBJ
%
%
>C$<%*+S!QT%F62;1%A4:?5%E6%;69:0;65%74;%6MD;24;50<2;F%
C;618;0CD04<G% E:D% 4<?F% /T% F62;1% 2;6% <66565% 74;% 4;50<2;F%
C;618;0CD04<@J
>E@% )4;%C6;14<2?%C;4C6;DFG%DA4%F62;1%47%C41161104<%0<%@<7!720DB%
A4:?5%E6%69:0K2?6<D%D4%*+$%F62;%0<%=445%720DBJ
Q]
%
S;D1J%//NZH//QT
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
>C$<%*+S!(MD;24;50<2;F% C;618;0CD04<% <6651% Y% F62;1W%
4;50<2;F%C;618;0CD04<G%\%F62;1@J
(
!"#,())KT,(P1"(#8'(/6"/10'0(1;(/"'0%"$/#$123(#8'"'($0(_60#(
#$#&'(78'2(#8'(49O'"0'(%&4$<42#(%4<'($2#1(/100'00$12(1;(#8'(
/"1/'"#.(#8"16:8(12'(1;(#8'(<19'0("'%1:2$V'9(=.(&47(;1"(#8'(
4%56$0$#$12(1;(172'"08$/(1"(1#8'"("'4&("$:8#03(=6#(#8'(:"42#1"(
740(21#(#8'(172'"(1"(%16&9(21#(#"420<$#(42.("$:8#,
@ABBCDEF
(
Y^60#(E$#&'Z(I'!(2'9
>2@% *B6%56!%<0D04<%01%03C?065%0<%DB6%S;D08?6J
>E@% .66%!4336<D1%:<56;%DB6%<6MD%S;D08?6J
(
!"#,( ))L*,( E8'( #$#&'( ;1"( /"'0%"$/#$12( <60#( ='( #"6'( 429(
O4&$9,
@ABBCDEF
(
D4#6"'(1;(#8'(E$#&'(M'56$"'9
>2@% PB2D%01%;62??F%362<D%EF%UV%)!)')6$%01%k)')V6*!&*6*#<7*2m%DB2D%
01G%DB6;6%A21%2%3456%47%289:010D04<%E:D%DB6%=;2<D4;%A21%+*)%
DB6%4A<6;J%+25%B6%E66<%DB6%4A<6;G%DB6;6%A4:?5%E6%<4%34;6%
<686110DF%74;%C;618;0CD04<J%,R$$!=*6'$+7*!5.!L'<#+$%<2!G!"W'6.!
IFIi!%$$!<6%*!B$+*5<!5.!4<#'*@<67$%2!4-ABC!/;D:;AC2!E<#.!
I;2!/D;G2!;F!H.B.!:;//8.
>E@% V*;:6%2<5%K2?05X%21%:165%0<%S;DJ%//QT%5461%<4D%362<%4<6%
A0DB4:D%2<F%56768DG%74;%0<%1:8B%2%8216G%DB6;6%A4:?5%E6%<4%
<686110DF%74;%C;618;0CD04<J%PB2D%0D%362<1%01%DB2D%DB6%O*7$%
1B4:?5%4;50<2;0?F%B2K6%E66<%K2?05%2<5%D;:6G%B25%DB6%=;2<D4;%
E66<%DB6%4A<6;J%,=*6'$+7*!5.!L'<#+$%<2!G!"W'6.!IFIi!I!4<%)<+!
I:08.!*B:1G%07%21056%7;43%DB6%56768D%47%DB6%=;2<D4;%<4D%E60<=%
DB6%4A<6;G%DB6;6%01%<+*)W$#!56768D%DB2D%A4:?5%;6<56;%DB6%
289:010D04<%5*'7G%DB6%D0D?6%DB:1%289:0;65%A4:?5%+*)!E6%1:7H
!%806<D%74;%4;50<2;F%C;618;0CD04<J%.:8B%74;%6M23C?6%A4:?5%E6%
DB6%8216%07%DB6%84<D;28D%A6;6%<@%*6V)$6K!%'OV6<)$7i%4;%AB6<%
QU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;D1J%//Q/H//QN
2%B:1E2<5G%(#$)$+7'+e!D4%E6%DB6%4A<6;%47%86;D20<%C;4C6;DFG%
A4:?5%7*+<)$!0D%D4%B01%C2;234:;J%N5$+!'>%DB6%B:1E2<5%B25%
E66<%DB6%4A<6;G%DB6%54<2D04<%A4:?5%B2K6%E66<%<:??%2<5%
K405% R:1D% DB6% 1236J% +6;6G% DB6% 54<66G% ?28_0<=% VR:1D% D0D?6GX%
82<%289:0;6%4A<6;1B0C%EF%$J)#<*#7'+<#K2!+*)!EF%4;50<2;F%
C;618;0CD04<J
%
(
!"#,())L),(P1"(#8'(/6"/10'0(1;(/"'0%"$/#$123(_60#(#$#&'(<60#(
='(/"1O'9c($#($0(2'O'"(/"'06<'9,
@ABBCDEF
(
D'%'00$#.(1;(J"1O$2:(#8'(^60#(E$#&'
>2@% ,;447%01%<66565%0<%K06A%47%DB6%<ee#$%%'5$!4;%*>>$+%'5$%8B2;H
28D6;%47%C;618;0CD04<J
>E@% "<% C;618;0CD04<G% DB6;674;6G% DB6% C;61:3CD04<% 47% R:1D% D0D?6%
=0K6<%:<56;%S;DJ%]\/%;6=2;50<=%'()(-.(%47%;0=BD1%5461%
+*)!2CC?FJ%,R$$!I!4<%)<+!I:/8.
(
!"#,())LK,(E8'(172'"08$/(1;(<1O4=&'0(/"'0%"$='0(#8"16:8(
62$2#'""6/#'9(/100'00$12(;1"(;16"(.'4"0($2(:119(;4$#8,
(
E8'( 172'"08$/( 1;( /'"0124&( /"1/'"#.( 4&01( /"'0%"$='0(
#8"16:8( 62$2#'""6/#'9( /100'00$12( ;1"( '$:8#( .'4"03( 7$#816#(
2''9(1;(42.(1#8'"(%129$#$12,
(
`$#8("':4"9(#1(#8'("$:8#(1;(#8'(172'"(#1("'%1O'"(/'"0124&(
/"1/'"#.(&10#(1"(1;(78$%8(8'(840(=''2($&&':4&&.(9'/"$O'93(40(
7'&&( 40( 7$#8( "'0/'%#( #1( <1O4=&'0( 4%56$"'9( $2( 4( /6=&$%( 04&'3(
;4$"3(1"(<4"\'#3(1"(;"1<(4(<'"%842#Z0(0#1"'(#8'(/"1O$0$120(1;(
!"#$%&'0(SST(429()S*S(1;(#8$0(@19'(084&&(='(1=0'"O'9,
@ABBCDEF
G)H( J'"$19(1;(J"'0%"$/#$12(;1"(B1O4=&'0
%
%
*B01%S;D08?6%1D2D61%DB6%;:?61%74;%`&#SO$(.I
>2@% 4;50<2;F%C;618;0CD04<%h%\%F62;1
>E@% 6MD;24;50<2;F%C;618;0CD04<%h%Y%F62;1
Qa
%
S;DJ%//QQ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GKH( M6&'(7$#8(M'0/'%#(#1(N10#(B1O4=&'0(429(E810'(1;(`8$%8(
#8'(A72'"(a40(-''2(>&&':4&&.(I'/"$O'9
%
%
*B6%C41161104<%47%34K2E?6%C;4C6;DF%289:0;65%0<%=445%720DB%
01%69:0K2?6<D%D4%2%D0D?6J%-6K6;DB6?611G%4<6%AB4%B21%?41D%2<F%34KH
2E?6% 4;% B21% E66<% :<?2A7:??F% 56C;0K65% DB6;647G% 32F% ;684K6;% 0D%
7;43%DB6%C6;14<%0<%C41161104<%47%DB6%1236J
%
%
"7%DB6%C4116114;%47%2%34K2E?6%?41D%4;%47%AB08B%DB6%4A<6;%
B21%E66<%:<?2A7:??F%56C;0K65G%B21%289:0;65%0D%0<%=445%720DB%2D%
2%C:E?08%12?6G%DB6%4A<6;%82<<4D%4ED20<%0D1%;6D:;<%A0DB4:D%;603H
E:;10<=%DB6%C;086%C205%DB6;674;J%,-#).!;;D2!4'5'6!4*7$8.
GLH( M6&'(7$#8(M'0/'%#(#1(J6=&$%([4&'03(P4$"03(B4"\'#03(429(
B'"%842#Z0([#1"'
%
%
.:ER68D% D4% DB6% C;4K0104<1% 47% DB01% *0D?6G% AB6;6% =4451% 2;6%
14?5%EF%2%C6;14<%AB4%01%<4D%DB6%4A<6;%DB6;647G%2<5%AB4%5461%<4D%
16??%DB63%:<56;%2:DB4;0DF%4;%A0DB%DB6%84<16<D%47%DB6%4A<6;G%DB6%
E:F6;%289:0;65%<4%E6DD6;%D0D?6%D4%DB6%=4451%DB2<%DB6%16??6;%B25G%
:<?611%DB6%4A<6;%47%DB6%=4451%01%EF%B01%84<5:8D%C;68?:565%7;43%
56<F0<=%DB6%16??6;L1%2:DB4;0DF%D4%16??J
%
%
-4DB0<=%0<%DB01%*0D?6G%B4A6K6;G%1B2??%27768DI
>2@% *B6%C;4K0104<1%47%2<F%728D4;1L%28D1G%;684;50<=%?2A1G%4;%2<F%
4DB6;%C;4K0104<%47%?2A%6<2E?0<=%DB6%2CC2;6<D%4A<6;%47%=4451%
D4%501C416%47%DB63%21%07%B6%A6;6%DB6%D;:6%4A<6;%DB6;647W
>E@% *B6%K2?050DF%47%2<F%84<D;28D1%47%12?6%:<56;%1D2D:D4;F%C4A6;%
47%12?6%4;%:<56;%DB6%4;56;%47%2%84:;D%47%843C6D6<D%R:;01508H
D04<W
>8@%
,:;8B2161%3256%0<%2%36;8B2<DL1%1D4;6G%4;%0<%720;1G%4;%32;H
_6D1G%0<%2884;52<86%A0DB%DB6%!456%47%!4336;86%2<5%1C6802?%
?2A1J!,-#).!/;0;2!4'5'6!4*7$8.
(
!"#,())LL,(B1O4=&'0(/100'00'9(#8"16:8(4(%"$<'(%42(2'O'"(
='(4%56$"'9(#8"16:8(/"'0%"$/#$12(=.(#8'(1;;'29'",(
@ABBCDEF
G)H( B1O4=&'0(J100'00'9(E8"16:8(4(@"$<'
%
%
-4D6% DB6% A4;5% V4776<56;JX% OF% 03C?082D04<G% 1:E169:6<D%
289:0;6;1%7;43%DB6%V4776<56;X%32F%289:0;6%DB6%C;4C6;DF%EF%C;6H
18;0CD04<J
QY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;D1J%//Q\H//QU
GKH( M6&'(;1"(><<1O4=&'0(G`8'"'(@"$<'0(!"'(>2O1&O'9H
%
%
b6=2;50<=%'OO*5<@6$%G%C41161104<%EF%>*#&$!4;!5'*6$+&$%5461%
<4D%=0K6%;016%D4%C;618;0CD04<J
%
(
!"#,())LU,(A72'"08$/(429(1#8'"("'4&("$:8#0(1O'"($<<1O?
4=&'(/"1/'"#.(4"'(4%56$"'9(=.(1"9$24".(/"'0%"$/#$12(#8"16:8(
/100'00$12(1;(#'2(.'4"0,
@ABBCDEF
(
J"'0%"$/#$O'(J'"$190(;1"(!%56$"$2:(M'4&(J"1/'"#.
%
%
*B01%S;D08?6%2<5%DB6%74??4A0<=%4<61%1D2D6%DB6%;:?6%74;%"`H
`&#SO$(.I
>2@% 4;50<2;F%C;618;0CD04<%h%/T%F62;1
>E@% 6MD;24;50<2;F% C;618;0CD04<% h% QT% F62;1J% ,-#).! //FG2! 4'5'6!
4*7$8.
!
!"#,())LS,(>2(%40'(#8'(49O'"0'(%&4$<42#(/100'00'0(=.(<$0?
#4\'(42(4"'4(:"'4#'"3(1"(&'003(#842(#84#('b/"'00'9($2(8$0(#$#&'3(
/"'0%"$/#$12(084&&(='(=40'9(12(#8'(/100'00$12,(
@ABBCDEF
(
`8'2(!"'4(J100'00'9(e4"$'0(;"1<(!"'4($2(E$#&'
>2@% *B6%D6;3%VC41161161X%B6;6%;676;1%D4%E4DB%<&)V<6!2<5%&*+A
%)#V&)'5$%C41161104<G%10<86%C41161104<%0<%DB6%6F61%47%DB6%?2A%
5461%<4D%362<%DB2D%2%32<%B21%D4%B2K6%B01%766D%4<%6K6;F%
19:2;6% 36D6;% 47% ?2<5J% ,C<O*%! 5.! ='#.! *>! ?<+7%2! FD! "W'6.!
/G;8.
>E@% -4D086% DB2D% VC41161104<X% B6;6% C;6K20?1% 4K6;% DB6% VD0D?6JX%
-686112;0?FG%07%DB6;6%01%-&%D0D?6G%DB6%S;D08?6%82<<4D%2CC?FJ
>8@%
*B6%C41161104<%B6;6%3:1D%E6%VEF%301D2_6JLL
(
!"#,())L+,(J100'00$12($2(74"#$<'3(78'2(#8'(%$O$&(%16"#0(
4"'( 21#( 1/'23( 084&&( 21#( ='( %162#'9( $2( ;4O1"( 1;( #8'( 49O'"0'(
%&4$<42#,
QZ
%
S;DJ%//Qa
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
@ABBCDEF
G)H( J100'00$12($2(`4"(E$<'
>2@% *B6%S;D08?6%5461%<4D%2CC?F%AB6<%DB6%80K0?%84:;D1%2;6%4C6<J%"<%
C'*!K!4*O(<+'<!5.!=<)V!a*6M'(6'2!?A/IF0/2!-(#'6!/F2!/D;D2!
DB6%.:C;636%!4:;D%B6?5%DB2D%DB6%1D2D:D6%47%?030D2D04<1%01%
1:1C6<565%07%5:;0<=%A2;D036G%84:;D1%2;6%<4D%4;%82<<4D%E6%
_6CD%4C6<J%+4A6K6;G%D4%0<K4_6%DB01%;:?6G%2%C2;DF%3:1D%!%;1D%
1B4A%DB2D%DB6%84:;D%A21%8?4165%4;%84:?5%<4D%E6%4C6<65%74;%
E:10<611% 21% 2% 84<169:6<86% 47% 8B241% 2<5% 84<7:104<J% *B6%
56D6;30<2D04<%47%DB01%32DD6;%01%2%9:61D04<%47%728DG%AB08B%
1B4:?5%E6%K6<D0?2D65%0<%DB6%B62;0<=%47%2%8216%4<%DB6%36;H
0D1J
>E@% ':;0<=%DB6%^2C2<616%488:C2D04<G%DB6;6%A6;6%C?2861%0<%DB6%
,B0?0CC0<61%AB6;6%<4%80K0?%84:;D1%84:?5%7:<8D04<J
GKH( P1"#6$#160(CO'2#(f(C;;'%#(12(J"'0%"$/#$12
%
%
-4D6%DB2D%:<56;%S;DJ%//]\%47%DB6%!0K0?%!456G%VDB6%C6;045%
5:;0<=%AB08B%DB6%4E?0=66%A21%C;6K6<D65%EF%2%74;D:0D4:1%6K6<D%
7;43%6<74;80<=%B01%;0=BD%01%<4D%;68_4<65%2=20<1D%B03JX
(
!"#,())LX,(A72'"08$/(429(1#8'"("'4&("$:8#0(1O'"($<<1O4?
=&'0( 4&01( /"'0%"$='( #8"16:8( 62$2#'""6/#'9( 49O'"0'( /100'0?
0$12(#8'"'1;(;1"(#8$"#.(.'4"03(7$#816#(2''9(1;(#$#&'(1"(1;(:119(
;4$#8,(
@ABBCDEF
G)H( Cb#"41"9$24".( J"'0%"$/#$12( `$#8( M'0/'%#( #1( ><<1O4?
=&'0
%
%
*B01% S;D08?6% ;676;1% D4% 6MD;24;50<2;F% C;618;0CD04<% ;6=2;5H
0<=I
>2@% 4A<6;1B0C%4K6;%0334K2E?61
>E@% 4DB6;%;62?%;0=BD1%4K6;%0334K2E?61
GKH( J'"$19(M'56$"'9
%
%
-4D6%DB6%C6;045%h%QT%F62;1J
\T
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//QY
GLH( `84#(!"'(D1#(D''9'9
%
%
c<56;%DB01%S;D08?6G%<60DB6;%=445%720DB%<4;%R:1D%D0D?6%01%61H
16<D02?W%B6<86G%C;4C6;DF%5*'76K!54<2D65%32F%E6%289:0;65%EF%$JA
)#<*#7'+<#K!(#$%&#'()'*+J%*B01%32F%74;%0<1D2<86%488:;%AB6<%DB6%
54<2D04<%47%;62?%C;4C6;D061%B25%+*)%E66<%K2?05?F%2886CD65%EF%DB6%
54<66J%S?DB4:=B%B6;6%DB6%54<2D04<%01%K405G%0D%32F%E6%DB6%E2101%74;%
DB6%289:010D04<%47%DB6%54<66%47%1205%C;4C6;D061%EF%C;618;0CD04<J%
,BV<#'+2!$)!<6.!5.!=$!j$#<2!?AD;GG2!P$@.!I32!/D;G!<+7!"$+%<7$#!
5.!"$+%<7$#2!:G!"W'6.!D;D8.
GUH( M'#"14%#$O'(C;;'%#(1;(#8'(J"'0%"$/#$12
%
%
,;618;0CD04<%B21%2%#$)#*<&)'5$!67768DG%DB2D%01G%DB6%289:0;6;G%21%
144<%21%DB6%<686112;F%C6;045%B21%?2C165G%01%84<1056;65%DB6%4A<6;%
7;43% DB6% O(f"--"-f% 47% DB6% C41161104<J% *B:1G% 2<F% 6<8:3H
E;2<861%3256%EF%B03%5:;0<=%1205%C6;045%1B4:?5%E6%84<1056;65%
21%K2?05G%AB0?6%DB416%47%DB6%4;0=0<2?%*X+$#%2;6%<4D%E0<50<=%4<%DB6%
289:0;6;%EF%C;618;0CD04<J%*B6%289:0;6;%01%2?14%6<D0D?65%D4%2??%DB6%
7;:0D1%5:;0<=%1205%C6;045%0<%K06A%47%B01%;6D;428D0K6%4A<6;1B0CJ%
,I!4<%)<+!I;:AI;;8.
(
!"#,())LR,(>2(#8'(%1</6#4#$12(1;(#$<'(2'%'004".(;1"(/"'?
0%"$/#$123(#8'(;1&&17$2:("6&'0(084&&(='(1=0'"O'9F
(
G)H( E8'( /"'0'2#( /100'001"( <4.( %1</&'#'( #8'( /'"$19(
2'%'004".(;1"(/"'0%"$/#$12(=.(#4%\$2:(8$0(/100'00$12(#1(#84#(
1;(8$0(:"42#1"(1"(/"'9'%'001"($2($2#'"'0#c
(
GKH( >#($0(/"'06<'9(#84#(#8'(/"'0'2#(/100'001"(781(740(
4&01(#8'(/100'001"(4#(4(/"'O$160(#$<'3(840(%12#$26'9(#1(='($2(
/100'00$12(96"$2:(#8'($2#'"O'2$2:(#$<'3(62&'00(#8'"'($0(/"11;(
#1(#8'(%12#"4".c
(
GLH( E8'(!("0#(94.(084&&(='('b%&69'9(429(#8'(&40#(94.($2?
%&69'9,
@ABBCDEF
(
M6&'0(;1"(@1</6#4#$12(1;(E$<'
%
,2;J%/%h!Q<&M'+e!*>!"*%%$%%'*+
>2@% *B01% 362<1% S''"-f% DB6% C6;045% 47% C41161104<% 47% DB6%
C;65686114;J%C$<%*+S%*B6%D;:6%4A<6;%47%DB6%C;4C6;DF%A21%
\/
%
S;DJ%//QY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
27D6;%2??%-&*%0<%C41161104<G%5:;0<=%DB6%C41161104<%47%1205%
C;65686114;J
>E@% Q<&M'+e%01%2??4A65%*+6K%07%DB6;6%E6%C;0K0DF%47%;6?2D04<1B0C%
E6DA66<%DB6%C;65686114;%2<5%DB6%1:886114;G%21%0<%DB6%8216%
47% 1:8861104<G% 54<2D04<G% 12?6G% E2;D6;G% 6D8J% *B:1G% 2% 36;6%
0<D;:56;%4;%:1:;C6;%82<<4D%VD28_JX%,R$$!C<d*)$!5.!C<d*)$2!
/:!"W'6.!/3Ii!?<&%*+!5.!B*5\).2!FD!"W'6.!1F8.
>8@%
V*28_0<=X%EF%2%1:E169:6<D%C4116114;%47%B01%C;65686114;L1%
C41161104<%82<%E6%2??4A65%07%DB6%C;65686114;L1%C41161104<%
&<+!%<)'%>K%DB6%;69:010D61%74;%C;618;0CD04<%>1:8B%21%DB6%728D%
DB2D%DB6%C41161104<%3:1D%E6%0<%DB6%84<86CD%47%4A<6;G%C6286H
7:?G%6D8J@J%,R$$!I!4*#(V%!aV#'%!DI!<+7!4<%'6<e!5.!P<U<#7*2!
4-ABC!/011AC!aV+.!/32!/D:32!:1!H.B.!;G08.
%
,2;J%N!g!"#$%VO()'*+!*>!4*+)'+V'+e!"*%%$%%'*+
!
%
*B6%C;61:3CD04<%01%6MC;611?F%568?2;65%D4%E6%;6E:DD2E?6J
\N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
,/01234!=
)*%+,*#)"#-.!-9!7,"#-.
(
!"#,( ))LT,( !%#$120( /"'0%"$='( =.( #8'( <'"'( &4/0'( 1;( #$<'(
!(b'9(=.(&47,(
@ABBCDEF
G)H( a17(!%#$120(J"'0%"$='
(
%
OF%DB6%O$#$!6<(%$!*>!)W$!)'O$%0<5082D65%0<%DB6%?2AJ%*B6;6%
01%<4%4DB6;%;69:0;636<DJ
GKH( [%1/'(1"(D4#6"'(1;(#8'(@84/#'"
%
%
*B01%8B2CD6;%01%4:;%e$+$#<6!.D2D:D6%47%$030D2D04<1G%E682:16%
C2;D08:?2;%C;4K0104<1%4<%C;618;0CD04<%<2D:;2??F%C;6K20?J%,R$$!-#).!
//:32!4'5'6!4*7$8.
GLH( J"'0%"$/#$12(40(4(I';'20'
(
%
"<%=6<6;2?G%A6%32F%12F%DB2D%DB6%C;618;0CD04<%47%28D04<%01%
2K20?2E?6%21%2%'()(-.(J%*4%E6%2116;D65%21%1:8BG%0D%3:1D%E6%
1C680!%82??F%(6$<7$7!<+7!(#*5$7.!,T*7e$%!5.!R<6<%2!1F!"W'6.!;1G8.!
*B:1G%07%<4D%16D%:C%4;%C?62565%21%2%5676<16G%C;447%82<<4D%?2D6;%
4<%E6%C;616<D65%07%4ER68D04<%01%3256%D4%DB6%0<D;45:8D04<%47%1:8B%
C;447J%,9<)'*+<6!L<+M!5.!N%&V7$#*2!DI!"W'6.!/;08.!cC4<%DB6%4DB6;%
B2<5G%21%?4<=%21%DB6%5676<52<D%;20165%DB6%5676<16%47%C;618;0CD04<%
0<%B01%2<1A6;%D4%DB6%843C?20<DG%E:D%DB6%843C?20<D%A21%501301165%
4<%1436%4DB6;%=;4:<5G%B6%82<%1D0??%16D%:C%0<%B01%@#'$>%0<%DB6%2CH
C6??2D6%84:;D%0<%2<%2CC62?%EF%DB6%C?20<D077%7;43%DB6%5680104<%47%
DB6%D;02?%84:;DJ%,?<(Vd!5.!RK!^K2!?A/00GD2!E<K!/G2!/D;G8.!"7%DB6%
011:6%47%C;618;0CD04<%82<%E6%5680565%7;43%DB6%2K6;36<D1%47%DB6%
C?6250<=1G%34;6%C2;D08:?2;?F%7;43%DB6%C?20<D077L1%843C?20<DG%DB6;6%
01%-&%<686110DF%47%;6860K0<=%6K056<86%4<%DB6%32DD6;G%E674;6%DB6%
\Q
%
S;DJ%//QZ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!4:;D%32F%5013011%DB6%843C?20<D%4<%DB6%=;4:<5%47%C;618;0CD04<J%
,L<O@<*2!$)!<6.!5.!?$7+'&MK2!$)!<6.2!?A/;:D;2!a<+.!I32!/D1/8.
GUH( C;;'%#(1;(I'4#8(12(J"'0%"$/#$12
(
(
"7% 2% ><)W$#! B21% 2% 82:16% 47% 28D04<% 2=20<1D% 2% 1D;2<=6;% >DB6%
C6;045%47%C;618;0CD04<%47%AB08B%01G%?6D%:1%12FG%\%F62;1@%2<5%DB6%
72DB6;%5061%E674;6%DB6%6<5%47%1:8B%C;618;0CD0K6%C6;045G%1B4:?5%
C;618;0CD04<%84<D0<:6%D4%;:<G%6K6<%07%12F%B01%8B0?5;6<%2;6%1D0??%
`"-&b.d%*B6%.:C;636%!4:;D%0<%DB6%8216%47%E<#)'#2!$)!<6.!5.!
Q#'+'7<72! $)! <6.2! ?A/I0;G2! E<K! I02! /D;D2! <+%X$#$7! [NR2! 74;%
27D6;%2??%0<%DB01%8216%DB6%82:16%47%28D04<%288;:65%0<%72K4;%47%DB6%
72DB6;%B0316?7G%2<5%<4D%50;68D?F%0<%72K4;%47%DB6%8B0?5;6<J%(M86CD%
AB6;6% 2% 1D2D:D6% C;4K0561% 4DB6;A016G% 4<6% 5012E0?0DF% >?0_6% DB6%
72DB6;L1%562DB@%!S--&*%E6%)<&M$7%D4%2<4DB6;L1%5012E0?0DF%>?0_6%
DB6%8B0?5;6<L1%30<4;0DF@J%-4;%82<%2%C2;DF%2K20?%B0316?7%47%16K6;2?%
5012E0?0D061G%:<?611%DB6F%2??%6M01D65%2D%DB6%D036%AB6<%DB6%;0=BD%
47%28D04<%288;:65J%*B01%01%0<%4E6506<86%D4%DB6%:<0K6;12?%;:?6%DB2D%
AB6<%2%.D2D:D6%E6=0<1%D4%;:<G%<4%1:E169:6<D%5012E0?0DF%82<%1D4C%
0D1%4C6;2D04<%:<?611%1C6802??F%14%C;4K0565%0<%DB6%1D2D:D6J
GSH( @12"($%#(1;(N470(f(e4"$42%'(1;(P1"'$:2(429(N1%4&(N47(
M'(J"'0%"$/#$12
%
%
"<%DB6%8216%47%=\-6O$'7<!5.!T<e$7*#+!,?A/030:2!E<K!II2!
/D;G8G%2<%28D04<%A21%E;4:=BD%0<%/Z]\%0<%DB6%,B0?0CC0<61%4<%DA4%
5632<5%<4D61%6M68:D65%0<%/Z\N%2<5%/Z\Q%0<%+4<=%i4<=%AB6;6%
E4DB% 56ED4;% 2<5% 8;650D4;% A6;6% ;61050<=% :<D0?% ?0E6;2D04<J% *B6%
!4:;DG%0<%2CC?F0<=%DB6%;:?6%DB2D%DB6%34;2D4;0:3%?2A%1:1C6<565%
DB6%;:<<0<=%47%DB6%C;618;0CD0K6%C6;045%2<5%DB2D%DB6;674;6%DB6%28H
D04<%B25%+*)%C;618;0E65G%;:?65%DB2D%C;618;0CD04<%01%=4K6;<65%EF%
DB6%?2A%47%DB6%>*#VOJ%"D%A4:?5%1663%7;43%DB01%;:?0<=%DB2D%6K6<%
07% DB6% 82:16% 47% 28D04<% 288;:65% 0<% +4<=% i4<=% 2<5% B21% 2?;625F%
C;618;0E65%:<56;%+4<=%i4<=%?2AG%0D%B21%+*)!K$)!C;618;0E65%:<56;%
,B0?0CC0<6%?2AJ%*B01%16631%D4%?416%10=BD%47%2%168D04<%47%S8D%/ZT%
>!456%47%!0K0?%,;4865:;6@%AB08B%1D2D61%DB2D%V07G%EF%DB6%?2A1%47%DB6%
.D2D6%4;%84:<D;F%AB6;6%DB6%82:16%47%28D04<%2;416G%DB6%28D04<%01%
E2;;65G%0D%01%2?14%E2;;65%0<%DB6%,B0?0CC0<61JX%"<%DB6%0<1D2<D%8216G%
B4A6K6;G%DB6;6%A21%+*!(#**>!DB2D%DB6%8?203%A21%E2;;65%:<56;%
+4<=%i4<=%?2AG%2<5%0D%01%A6??H16DD?65%DB2D%0<%DB6%2E16<86%47%C;447%
47%DB6%74;60=<%?2AG%0D%01%C;61:365%D4%E6%DB6%1236%21%,B0?0CC0<6%
?2AJ
\\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
S;D1J%//\TH//\/
%
>9HQNS%*B6%C;61:3CD04<%B21%E66<%;676;;65%D4%21%2%VC;4861H
1:2?%C;61:3CD04<X@J
G+H( a17(N12:(>0(4(B12#8g
(
(
]6$V12(O,(-4&#4V4"
X+([@M!(S+*
%
%
*B6%D6;3%V34<DBX%21%:165%0<%2%?2A%>1:8B%21%S;DJ%ZT%47%DB6%
b6K0165%,6<2?%!456@%01%:<56;1D445%D4%;676;%D4%2%F0A7<K!O*+)W%
2<5%<4D%D4%2%82?6<52;%34<DBJ
GXH( ]6'".
%
%
'461% 2% C;4C6;DF% 566365% C2;D% 47% DB6% C:E?08% 74;61D% C;6H
18;0E6d
!
!
-9R.S!S<%28D04<%74;%;6K6;104<%!%?65%EF%DB6%.D2D6%D4%;684K6;%
C;4C6;DF%;6=01D6;65%0<%72K4;%47%2<F%C2;DF%AB08B%01%C2;D%47%DB6%
C:E?08%74;61D%*#%47%2%74;61D%;616;K2D04<%<6K6;%C;618;0E61J!,T$'#%!
*>!)W$!?<)$!R(*V%$%!"$7#*!R.!"<6<+&<!<+7!R*)$#<+$<!C<>*6%!j7<.!
=$!"<6<+&<!5.!C$(V@6'&2!;00!R4C-!I0D!_I001`8.!
(
!"#,( ))U*,( !%#$120( #1( "'%1O'"( <1O4=&'0( 084&&( /"'0%"$='(
'$:8#(.'4"0(;"1<(#8'(#$<'(#8'(/100'00$12(#8'"'1;($0(&10#3(62&'00(
#8'(/100'001"(840(4%56$"'9(#8'(172'"08$/(=.(/"'0%"$/#$12(;1"(
4(&'00(/'"$193(4%%1"9$2:(1;(!"#$%&'())LK3(429(7$#816#(/"'_69$%'(
#1(#8'(/"1O$0$120(1;(!"#$%&'0(SST3()S*S3(429())LL,
@ABBCDEF
(
M'%1O'".(1;(B1O4=&'0
(
%
*B01%;676;1%D4%6MD;24;50<2;F%C;618;0CD04<%74;%O*5<@6$%.
(
!"#,())U),(M'4&(4%#$12(1O'"($<<1O4=&'0(/"'0%"$='(4;#'"(
#8$"#.(.'4"0,
(
E8$0(/"1O$0$12($0(7$#816#(/"'_69$%'(#1(784#($0('0#4=&$08'9(
;1"(#8'(4%56$0$#$12(1;(172'"08$/(429(1#8'"("'4&("$:8#0(=.(/"'?
0%"$/#$12,
\]
%
S;DJ%//\N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
@ABBCDEF
(
M'%1O'".(1;(><<1O4=&'0
>2@% *B01%;676;1%D4%6MD;24;50<2;F%C;618;0CD04<%74;%'OO*5<@6$%.
>E@% *B6%C41161104<%7$!UV#$%47%2<%0334K2E?6%01%?41DG%B4A6K6;G%
2D%DB6%6<5%47%/T%F62;1J%,9*.!:2!-#).!;;;2!4'5'6!4*7$8.
(
(
I'(^'0603('#(4&,(O,(@!3('#(4&,
QM(SX*TK3(^42,(K)3()TTL
%
%
,;618;0CD04<%;:<<0<=%6K6<%27D6;%DB6%67768D0K0DF%47%DB6%-6A%
!0K0?%!456%4<%S:=:1D%QTG%/Z]TG%84<D0<:65%D4%E6%=4K6;<65%EF%.68J%
\/%47%DB6%&?5%!0K0?%!456J
%
%
c<56;%DB6%C;616<D%!0K0?%!456G%DB6%C;618;0CD0K6%C6;045%;6H
9:0;65%74;%DB6%289:010D04<%47%0334K2E?6%C;4C6;DF%01%/T%F62;1%07%
DB6%C41161104<%01%0<%=445%720DBG%2<5%QT%F62;1%07%0<%E25%720DBJ%.:8B%
4C6<G%84<D0<:4:1G%6M8?:10K6%2<5%<4D4;04:1%488:C2D04<%47%DB6%501H
C:D65%C;4C6;DF%74;%QT%F62;1%3:1D%E6%84<8?:10K6?F%61D2E?01B65J
%
%
b68_4<65%7;43%DB6%D036%1B6%6M68:D65%DB6%27!%52K0D%47%25H
R:5082D04<%0<%/ZU/G%6?6K6<%F62;1%27D6;%DB6%-6A%!0K0?%!456%B25%
D2_6<%67768DG%C;0K2D6%;61C4<56<DL1%C41161104<%47%DB6%84<D61D65%?4D%
01%72;%D44%1B4;D%47%DB6%C;618;0CD0K6%C6;045%47%QT%F62;1G%84<1056;H
0<=%DB2D%B6;%C41161104<%01%0<%E25%720DBJ%*B6%!%?0<=%47%DB6%C6D0D04<%
74;%;684K6;F%47%4A<6;1B0C%2<5%C41161104<%2<5%9:06D0<=%47%D0D?6%
EF%C6D0D04<6;1%4<%SC;J%NaG%/ZaQ%A21%A6??%E6?4A%DB6%289:010D0K6%
C;618;0CD0K6% C6;045% 74;% C;0K2D6% ;61C4<56<DG% AB08B% 01% QT% F62;1%
:<56;% S;DJ% //\/% 47% DB6% C;616<D% !0K0?% !456J% "<% DB01% 8216G% DB6%
1D2D:D4;F%C6;045%47%C;618;0CD04<%01%566365%D4%B2K6%84336<865%
AB6<%C6D0D04<6;1%A6;6%3256%2A2;6%47%2%8?203%25K6;16%D4%DB63G%
'.$.2%AB6<%DB6%27!%52K0D%47%25R:5082D04<%A21%5:?F%;6=01D6;65%A0DB%
DB6%b6=01D;F%47%'6651%AB08BG%2D%DB6%62;?061D%32F%E6%84<1056;65%
D4%E6%0<%/Za\G%AB6<%C;0K2D6%;61C4<56<D%A21%2E?6%D4%168:;6%2%D2M%
568?2;2D04<%0<%B6;%<236J
(
!"#,())UK,(!(<1"#:4:'(4%#$12(/"'0%"$='0(4;#'"(#'2(.'4"0,
@ABBCDEF
G)H( J"'0%"$/#$12(1;(B1"#:4:'(!%#$120
%
%
/T%F62;1J
\U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//\Q
GKH( `8'2(J'"$19(-':$20
(
%
);43%AB2D%3436<D%3:1D%DB6%/THF62;%C6;045%E6%84:<D65d%
);43%DB6%52F%4<%AB08B%0D%84:?5%B2K6%E66<%E;4:=BDJ%,-#).!//;02!
4'5'6!4*7$8.!*B:1G%07%DB6%C2;6<D1%47%2<%63C?4F66%1B4:?5%6M68:D6%
2%;62?%61D2D6%34;D=2=6%D4%168:;6%2%C6;74;32<86%E4<5%=0K6<%EF%2%
1:;6DF%843C2<F%74;%DB60;%14<G%DB6%C6;045%47%C;618;0CD04<%E6=0<1%
7;43% DB6% 3436<D% DB6% 1:;6DF% 843C2<F% (<K%! EF% ;6214<% 47% 1205%
E4<5% E682:16% 7;43% 1205% 52D6G% DB6% 34;D=2=4;1% E68436% ?02E?6G%
2<5%74;68?41:;6%82<%E6%3256J%,9<@*+e!5.!?Vd*+!RV#$)K!4*.2!]+&.2!!
?A/00F:2!E<K!/G2!/D;G8.
GLH( N4290(`$#8(4(E1""'20(E$#&'
(
%
PB0?6% ?2<51% A0DB% 2% *4;;6<1% *0D?6% 82<<4D% E6% 289:0;65% EF%
C;618;0CD04<% ,R$&.! FD2! -&)! :D1! <+7! C*%<#'*! 5.! -V7.! B$+$#<62!
?A//3/G2!-(#.!F02!/D;382%1D0??%DB6%;0=BD%D4%74;68?416%2%34;D=2=6%
4<%1:8B%?2<51%7*$%!(#$%&#'@$!74;%AB2D%5461%<4D%C;618;0E6%01%DB6%
*X+$#%W'(!47%1205%?2<51J
GUH( C;;'%#($;(B1"#:4:'(>0(M':$0#'"'9
(
%
(K6<% 07% 2% 34;D=2=6% 01% #$e'%)$#$72! DB6% 28D04<% D4% 74;68?416%
:C4<% 0D% 32F% 1D0??% C;618;0E6J% ,LVW<)! 5.! L$%<+<2! ;0! H.B.! :I/;2!
R$().!/D;:8.
GSH( C;;'%#(12(>2#'"'0#(12(I'=#
(
(
"7%2%34;D=2=6%56ED%B25%2?;625F%C;618;0E65G%14%2?14%B21%DB6%
28D04<%D4%;684K6;%0<D6;61D%DB6;64<J%,R*#'<+*!5.!N+#'YV$d2!I:!"W'6.!
;3:8.
!
!"#,( ))UL,( E8'( ;1&&17$2:( "$:8#0( 4<12:( 1#8'"0( 0/'%$!('9(
'&0'78'"'( $2( #8$0( @19'3( 4"'( 21#( 'b#$2:6$08'9( =.( /"'0%"$/?
#$12F
(
G)H( E1(9'<429(4("$:8#(1;(74.3("':6&4#'9($2(!"#$%&'(+UTc
(
GKH( E1(="$2:(42(4%#$12(#1(4=4#'(4(/6=&$%(1"(/"$O4#'(26$?
042%',
@ABBCDEF
G)H( M$:8#0(D1#(Cb#$2:6$08'9(=.(J"'0%"$/#$12
>2@% *A4% ;0=BD1% 2;6% 0<5082D65% 0<% DB6% S;D08?6J% j*B6% !%;1D% ;0=BDG%
DB6%5632<50<=%47%DB6%;0=BD%47%A2FG%A4:?5%1663%D4%84K6;%
\a
%
S;DJ%//\Q
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2?14%DB6%;0=BD%D4%5632<5%2%&*O(V6%*#K!*#!6$e<6!$<%$O$+)!
*>!7#<'+<e$.!,R$$!-#).!1G12!4'5'6!4*7$8Jk
>E@% b6214<%74;%DB6%<4<HC;618;0CD0E0?0DFI%C:E?08%C4?08FJ
GKH( [1<'(A#8'"(!%#$120(E84#(I1(D1#(J"'0%"$='
>2@% *B6%28D04<%D4%5632<5%C2;D0D04<%47%2%84H4A<6;1B0C%>21%?4<=%
21%DB6%84H4A<6;1B0C%B21%E66<%6MC;611?F%4;%03C?080D?F%;68H
4=<0[65@J%,-#).!:D:2!4'5'6!4*7$8.
(
(
-69$12:(O,(J4291%
XT([@M!(KU
%
%
*B6%;0=BD%D4%5632<5%C2;D0D04<%5461%<4D%C;618;0E6J%,R$$!
-#).!:D:!*>!)W$!4'5'6!4*7$8.
>E@% *B6%28D04<%>4;%DB6%5676<16@%74;%DB6%568?2;2D04<%47%&*+)#<&)!
47%O<##'<e$%21%<:??%2<5%K405%4;%0<6M01D6<DJ%,R$$!-#).!/:/0i!
%$$!<6%*!L<+<e<!5.!R*6$#2!?A/;G/G2!aV+.!F02!/D1/8.
>8@%
*B6%28D04<%D4%B2K6%2%A0??%C;4E2D65%>4DB6;A016G%DB6%5610;61%47%
DB6%56862165G%AB4%82<<4D%B6?C%B0316?7G%32F%E6%7;:1D;2D65@J%
,BV$5<#<!5.!BV$5<#<2!$)!<6.2!?A0;:0;2!a<+.!F/2!/D;18.
>5@% *B6%28D04<%74;%DB6%9:06D0<=%47%D0D?6%14%?4<=%21%DB6%C?20<D077%
01%0<%C41161104<%47%DB6%C;4C6;DFJ%,R<()*2!$)!<6.!5.!P<@'<+<2!
?A//I3;2!E<K!12!/D;38.
>6@% *B6%;0=BD%D4%5632<5%1:CC4;D%>C;616<D%2<5%7:D:;6@G%E:D%0<H
1D2??36<D1%4<%1:CC4;D%0<%2;;62;1%32F%C;618;0E6J%,Q#'+'7<7!
P6*#$+&'*!5.!CV!!+*!H#e<+*2!BC!?A:0FG2!9*5.!ID2!/D;/8.
>7@%
f6<6;2??FG%2<%28D04<%D4%;684K6;%C;4C6;DF%$J(#$%%6K!(6<&$7!
'+!)#V%)!>6MC;611%D;:1D@%82<<4D%C;618;0E6%0<%K06A%47%DB6%84<H
!%56<86%;6C4165G%c-$(..%1:8B%D;:1D%B21%E66<%;6C:502D65%
:<69:0K482??FJ%+4A6K6;G%84<1D;:8D0K6%D;:1D1%2;6%27768D65%EF%
C;618;0CD04<%2<5%?28B61%0<%K06A%47%DB6%?28_%47%84<!%56<86%4;%
!%5:802;F%;6?2D04<1J%,='<d2!$)!<6.!5.!B<##'&W*!<+7!-e#'<7*2!
?A//IID2!E<#.!I02!/D;3i!%$$!L<&W#<&W!E*)*#!4*.!5.!?$U<+*2!
?A/0D/02!a<+.!/12!/D;Di!%$$!<6%*!&*OO$+)%!V+7$#!-#).!/:;12!
)W'%!j*6VO$8.
\Y
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//\\
>=@% S<%28D04<%D4%843C6?%;684<K6F2<86%47%C;4C6;DF%A0DB%2%*4;H
;6<1%*0D?6%5461%-&*%C;618;0E6%07%DB6%;6=01D6;65%4A<6;%B25%
4ED20<65%;6=01D;2D04<%0<%@<7!><')WG%2<5%DB6%C;4C6;DF%01%1D0??%
0<%DB6%?2DD6;L1%<236J%*B6%;6214<%01%DB2D%DB6%;6=01D;2D04<%01%
0<%DB6%<2D:;6%47%2%84<D0<:0<=%2<5%1:E101D0<=%D;:1DJ%,4<6<A
7'<*!5.!j7<.!7$!L6<%2!?A/D01F2!-(#.!ID2!/D1:8.%+4A6K6;G%07%
DB6%C;4C6;DF%B21%2?;625F%C21165%D4%2<%0<<486<D%C:;8B216;%
74;%K2?:6G%DB6%C;0<80C?6%47%03C;618;0CD0E0?0DF%5461%+*)!2CC?FJ%
,]@'7.8.!9HQNS%"<%B$#*+<2!$)!<6.!5.!4<#O$+!7$!BVdO<+2!$)!
<6.2!?A/D0102!E<K!ID2!/D1:2%B4A6K6;G%DB6%.:C;636%!4:;D%
1D2D65%DB2D%2?DB4:=B%DB6;6%2;6%1436%5680104<1%D4%DB6%84<H
D;2;FG%0D%01%2?;625F%16DD?65%DB2D%2<%28D04<%74;%;684<K6F2<86%
47%;62?%C;4C6;DF%E2165%:C4<%2%84<1D;:8D0K6%4;%03C?065%D;:1DG%
;61:?D0<=%7;43%7;2:5G%32F%E6%@<##$7%EF%C;618;0CD04<J%*B6%
C6;045%01%\%F62;1%7;43%DB6%50184K6;F%47%DB6%7;2:5J
>B@% S<%28D04<%E;4:=BD%EF%2%E:F6;%47%?2<5%D4%843C6?%DB6%16??6;%D4%
6M68:D6%DB6%C;4C6;%5665%47%84<K6F2<86%5461%-&*%C;618;0E6G%
C;4K0565% DB2D% 1205% E:F6;% 01% 1D0??% 0<% ,&..(.."&-J% ,R$$!
4<%)#'66*!5.!4*V#)!*>!-(($<6%2!?A/30:12!E<#.!F/2!/D1:8.
>0@%
S<% 28D04<% EF% DB6% ;6=01D6;65% 4A<6;% 47% ?2<5% >C;4D68D65% EF%
2% *4;;6<1% *0D?6@% D4% ;684K6;% C41161104<% 47% 1205% ?2<5J% ,-&)!
:D18.
>R@%
!216%47%b450?
(
(
M19$&(O,(-'2'9$%#1
N?KR+)+3(^42,(KK3()TR*
%
%
*B6%;0=BD%47%DB6%2CC?082<D%74;%;6=01D6;65%?2<5%>4;%DB6%
C:;8B216;%DB6;647@%D4%21_%74;%DB6%A;0D%47%C41161104<%5461%
<4D%C;618;0E6J
(
!"#,())UU,(E8'(;1&&17$2:(4%#$120(<60#(='(="16:8#(7$#8$2(
#'2(.'4"0(;"1<(#8'(#$<'(#8'("$:8#(1;(4%#$12(4%%"6'0F
(
G)H( d/12(4(7"$##'2(%12#"4%#c
(
GKH( d/12(42(1=&$:4#$12(%"'4#'9(=.(&47c
(
GLH( d/12(4(_69:<'2#,
\Z
%
S;DJ%//\\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
@ABBCDEF
G)H( !%#$120(E84#(J"'0%"$='($2()*(h'4"0
(
%
*B6%S;D08?6%6<:36;2D61%DB;66%_0<51J
%
%
&DB6;%28D04<1%DB2D%C;618;0E6%0<%/T%F62;1%0<8?:56%DB6%74??4AH
0<=I
>2@% 28D04<%D4%;684K6;%7$!UV#$%C41161104<%47%;62?%C;4C6;DF%7;43%
2%C4116114;%0<%=445%720DBJ%,-#).!;;;2!4'5'6!4*7$i!<6%*!-#).!
//:/2!(<#.!I2!'+!#$6<)'*+!)*!-#).!//F:2!4'5'6!4*7$8.
>E@% 2%;62?%34;D=2=6%28D04<J%,-#).!//:I2!4'5'6!4*7$8.
%
!
_9HQNS%S<%28D04<%D4%2<<:?%2%32;;02=6%4<%DB6%=;4:<5%47%
03C4D6<8F%C;618;0E61%0<%60=BD%>Y@%F62;1G%84:<D65%7;43%DB6%86?H
6E;2D04<%47%DB6%32;;02=6J%,-#).!3G2!(<#.!12!4'5'6!4*7$8.`
(
(
e'&101(O,(`1"\<'2Z0(@1</'204#$12(@1<<$00$12
XR([@M!(S*L
%
%
*B6% ?02E0?0DF% 47% 2<% 63C?4F6;% 74;% 843C6<12D04<% 82161% :<H
56;% DB6% P4;_36<L1% !43C6<12D04<% $2A% C;618;0E61% 0<% D6<% >/T@%
F62;1J
(
(
D':"'(O,(`1"\<'2Z0(@1</'204#$12(@1<<$00$12
QM(ULXTS3(!/",()S3()TRS
%
%
S% A4;_36<L1% 843C6<12D04<% 8?203% !%?65% Y% F62;1% 27D6;% DB6%
63C?4F66L1% 562DB% 01% A6??% A0DB0<% DB6% 1D2D:D4;F% C6;045% D4% !%?6% 2%
843C6<12D04<%8?203G%AB08B%01%/T%F62;1J
e$&&4<1"(O,(@!
QM(TXLLK3(A%#,()*3()TT)
%
%
c<56;% S;D08?6% //\\>/@% 47% DB6% !0K0?% !456G% 28D04<1% :C4<% 2%
A;0DD6<%84<D;28D%3:1D%E6%E;4:=BD%A0DB0<%D6<%>/T@%F62;1J%*B6%5665%
47%4CD04<%A21%6M68:D65%4<%-4KJ%//G%/Za/J%*B6%2886CD2<86%A21%
2?14%3256%0<%DB6%1236%0<1D;:36<DJ%*B6%843C?20<D%A21%!%?65%EF%
#0??234;%4<%^:?J%/QG%/ZYaG%/a%F62;1%7;43%DB6%D036%47%DB6%6M68:H
D04<%47%DB6%84<D;28DJ%+6<86G%DB6%;0=BD%47%28D04<%B25%C;618;0E65J%
*B6;6%A6;6%2??6=2D04<1%EF%#0??234;%DB2D%DB6F%5632<565%7;43%
b6F61%21%62;?F%21%/ZY\%DB6%6<74;8636<D%47%DB60;%;0=BD1%:<56;%DB6%
]T
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//\\
84<D;28DJ%.D0??G%0D%A21%E6F4<5%DB6%D6<%>/T@HF62;%C6;045%C;618;0E65%
EF%DB6%!0K0?%!456J
%
%
"D%01%47%R:50802?%<4D086%DB2D%DB6%C;086%47%;62?%61D2D6%0<%`6D;4%
`2<0?2%01%84<D0<:4:1?F%4<%DB6%;016J%*4%2??4A%#0??234;%D4%5632<5%
DB6%56?0K6;F%47%DB6%C;4C6;DF%1:ER68D%47%DB01%8216%/Q%F62;1%4;%/a%
F62;1%27D6;%DB6%6M68:D04<%47%DB6%5665%2D%DB6%C;086%47%4<?F%,aT%
C6;% 19:2;6% 36D6;% 01% 0<69:0D4:1J% )4;% ;6214<1% 47% 69:0DF% 2<5% 0<%
84<1056;2D04<%47%DB6%728D%DB2D%b6F61%B21%<4%4DB6;%5686<D%C?286%
D4%?0K6%0<G%DB6%!4:;D%0<%DB6%6M6;8016%47%69:0DF%R:;01508D04<G%01%<4D%
0<8?0<65%D4%=;2<D%#0??234;L1%C;2F6;J
GKH( Cb4</&'(1;(4(`"$##'2(@12#"4%#
%
%
S% C2116<=6;% 47% 2% 1B0CG% 4;% B01% B60;1G% 82<% E;0<=% 2<% 28D04<%
E2165%4<%&V6(<!&*+)#<&)V<6!A0DB0<%2%C6;045%47%/T%F62;1%E682:16%
DB6%*"!i(*%011:65%74;%DB6%D;2<1C4;D2D04<%01%EF%0D16?7%2%!&`H
,$(*(%Pb"**(-%!&-*bS!*J%,"$#<6)<!7$!BV$##$#*2!$)!<6.!5.!
E<7#'e<6!RW'(('+e!4*.2!?A/ID;/2!9*5.!/G2!/D;D8.
%
!
_9HQNS%S<%28D04<%74;%DB6%#$>*#O<)'*+!47%2%A;0DD6<%84<D;28D%
C;618;0E61%0<%D6<%>/T@%F62;1J%,a<KO$!5.!aV7e$!9$%)*#!-6<O(<K2!
?AFD;DI2!a<+.!I32!/DG;8.`
%
!
,9HQNS! "<% DB01% 8216G% DB6% !4:;D% B6?5% DB2D% V2?DB4:=B% DB6%
843C?20<D% 5461% <4D% 1D2D6% DB2D% DB6% D;2<1C4;D2D04<% A21% :<56;H
D2_6<%EF%K0;D:6%47%2%A;0DD6<%84<D;28D%47%82;;02=6G%<6K6;DB6?611%
DB01%82<%E6%'O(6'$7%7;43%DB6%&*O(6<'+)!E682:16%0D%01%2%32DD6;%47%
84334<%_<4A?65=6%DB2D%AB6<6K6;%2%C2116<=6;%E42;51%2%1B0C%74;%
D;2<1C4;D2D04<%7;43%4<6%C?286%D4%2<4DB6;G%B6%01%011:65%2%D08_6D%
AB6;60<%DB6%D6;31%47%DB6%84<D;28D%2;6%1C680!%65JX8
GLH( Cb4</&'0(1;(A=&$:4#$120(@"'4#'9(=.(N47
>2@% *B6%4E?0=2D04<%D4%C2F%0<563<0DF%74;%2%?6=2?%;0=BD%47%A2FJ%
>"7%DB6%;0=BD%47%A2F%47%2%C:E?08%;425%A21%289:0;65%0<%/Z/\G%
DB6%8?203%74;%C2F36<D%47%DB6%1236%E;4:=BD%D4%DB6%S:50D4;H
f6<6;2?%4<?F%0<%/Z]]%B21%C;618;0E65G%61C6802??F%AB6;6G%5:6%
D4%DB6%?411%47%DB6%C2C6;1%5:;0<=%DB6%A2;G%DB6%f4K6;<36<D%
82<<4D%E6%1:;6%DB2D%<4%C2F36<D%B21%E66<%3256@J!,C*%<#'*!
5.!-V7')*#AB$+$#<62!?A//3/G2!-(#.!F02!/D;38.
>E@% S<%28D04<%D4%;684K6;%843C6<12D04<%74;%DB6%562DB%47%2%A4;_6;%
4;%63C?4F66G%E60<=%2<%28D04<%E2165%4<%?2AG%C;618;0E61%0<%
]/
%
S;DJ%//\\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
/T%F62;1G%0<%DB6%2E16<86%47%2<F%1C680!%8%C;4K0104<%47%?2A%4<%
DB6% 32DD6;J% >c<56;% DB6% 74;36;% ?2AG% S8D% /ZTG% 1205% 28D04<%
C;618;0E65%27D6;%U%F62;1@J!,"<+!"W'6.!4*#(.!5.!f*#MO$+\%!
4*O($+%<)'*+! 4*O.! <+7! P#'<%2! ?AD30G2! -(#.! /G2! /D;G8.!
j9HQNS! "<% DB6% "<+! "W'6.! 4*#(*#<)'*+! &<%$2% DB6% 562DB%
488:;;65%4<%'68J%N]G%/Z\]J%*B6%8?203%A21%!%?65%A0DB%DB6%
P4;_36<L1%!43C6<12D04<%'0K0104<%47%DB6%O:;62:%47%$2E4;%
4<%)6EJ%//G%/Z\ZJ%*B6%O:;62:%DB6<%4;56;65%DB6%63C?4F6;%
D4%C2F%843C6<12D04<%4<%.6CD63E6;%ZG%/Z]TG%E:D%4<%^:<J%
NTG%/Z]NG%DB6%P4;_36<L1%!43C6<12D04<%!43301104<%A21%
8;62D65%2<5%0D%D44_%84=<0[2<86%47%DB6%8216J%&<%)6EJ%QG%/Z]]G%
5680104<%A21%;6<56;65%4<%DB6%8?203%AB08B%A21%1:E169:6<D?F%
27!%;365% EF% DB6% !43301104<6;G% E:D% DB6% 63C?4F6;% ;20165%
DB6%5676<16%47%C;618;0CD04<G%4<%DB6%=;4:<5%DB2D%AB6<%DB6%
!43301104<%211:365%R:;01508D04<%4K6;%DB6%8216%4<%^:<J%NTG%
/Z]NG%DB6%10M%F62;1L%C;618;0CD04<%C6;045%C;4K0565%74;%0<%S8D%
/ZT%B25%2?;625F%6MC0;65J%*B6%.:C;636%!4:;D%27!%;365%DB6%
;:?0<=%47%DB6%!43301104<%DB2D%DB6%C6;045%47%C;618;0CD04<%
B25%E66<%6MD6<565%EF%S;DJ%//\\>N@%47%DB6%!0K0?%!456%D4%/T%
F62;1%7;43%DB6%288;:2?%47%DB6%28D04<%2<5%DB2D%DB6%/THF62;%
C6;045% 505% <4D% 6MC0;6% :<D0?% '68J% N]G% /ZU]J% &<% DB6% 8?203%
DB2D%S;DJ%//\\%84:?5%<4D%E6%2CC?065%E682:16%S;DJ%NN]N%47%
DB6%!456%C;4K0561%DB2D%8B2<=61%3256%2<5%<6A%C;4K0104<1%
2<5%;:?61%?205%54A<%EF%DB01%!456%AB08B%32F%C;6R:5086%4;%
03C20;%K61D65%4;%289:0;65%;0=BD1%0<%2884;52<86%A0DB%DB6%4?5%
?6=01?2D04<%1B2??%B2K6%V<4%;6D;428D0K6%67768DX%2<5%DB2D%DB6%
2CC?082D04<%47%S;DJ%//\\%A4:?5%03C20;%K61D65%;0=BD1%47%DB6%
63C?4F6;G%DB6%!4:;D%B6?5%DB2D%DB6%63C?4F6;%B25%+*!K61D65%
;0=BD%AB6<%DB6%C6;045%47%U%F62;1%C;4K0565%0<%S8D%/ZT%505%
<4D%6MC0;6%:<D0?%'68J%/]G%/Z]/Jk
GUH( !%#$120(-40'9(12(4(^69:<'2#
%
%
*B6%R:5=36<D%;676;;65%D4%B6;6%3:1D%E6%2%!%<2?%2<5%6M68:D4;F%
4<6%>DB2D%01G%4<%2CC62?G%DB6%R:5=36<D%A21%84<!%;365G%4;%DB2D%<4%
2CC62?%A21%6K6;%3256%A0DB0<%DB6%C;4C6;%C6;045@J%,2;6<DB6D082??FG%
DB6%K2?050DF%47%2%R:5=36<D%4;%4;56;%47%2%84:;D%AB08B%B21%E68436%
!%<2?%2<5%6M68:D4;FG%32F%E6%2DD28_65%=6<6;2??F%4<?F%EF%2%50;68D%
28D04<G%4;%C;486650<=%D4%2<<:?%DB6%1236J!,R$$!C*%$+%*+%2!]+&.2!
$)!<6.!5.!T*+.!a*%$!a'O$+$d2!$)!<6.2!?A:/II;2!9*5.!//2!/DG;8.
]N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//\\
%
%
"<1D2??36<D1%74;%1:CC4;D%=;2<D65%EF%2%!%<2?%R:5=36<D%C;6H
18;0E6% 27D6;% /T% F62;1G% 628B% C2;D08:?2;% 0<1D2??36<D% C;618;0E0<=%
27D6;% /T% F62;1% 7;43% DB6% D036% 0D% 01% 5:6J% ,Q#'+'7<7! P6*#$+7*! 5.!
CV!!+*!H#e<+*2!?A:0FG2!9*5.!ID2!/D;/8.
%
!
_9HQNS! c<56;% DB6% b:?61% 47% !4:;DG% 2% R:5=36<D% E684361%
'&b`S-*%27D6;%]%F62;1J%*B01%362<1%DB2D%DB6%R:5=36<D%32F%
E6%6<74;865%4<?F%A0DB0<%]%F62;1%EF%A;0D%47%$J$&V)'*+J%*B6;627D6;G%
10<86%DB6%R:5=36<D%B21%E68436%7*#O<+)G%0D%82<%E6%6<74;865%4<?F%
EF%2<4DB6;%<&)'*+2!A0DB0<%/T%F62;1%7;43%DB6%D036%DB6;6%A21%!%<2?%
R:5=36<D%4<%DB6%!%;1D%28D04<J%,R$$!R$&.!12!CV6$!FD2!C$5'%$7!CV6$%!
*>!4*V#)8J%"D%<686112;0?F%74??4A1%DB2D%DB6%28D04<%D4%6<74;86%DB6%
R:5=36<D%3:1D%E6%!!6$7%A0DB0<%/T%F62;1J%*B6%D036G%B4A6K6;G%DB2D%
2%34;2D4;0:3%?2A%27768D0<=%DB6%4E?0=2D04<%A21%0<%74;86%1B4:?5%
E6%565:8D65%7;43%DB6%/THF62;%C;618;0CD0K6%C6;045%74;%DB6%;6214<%
DB2D%34;2D4;0:3%?2A1%B2K6%DB6%67768D%47%D4??0<=%>1:1C6<50<=@%DB6%
C;618;0CD0K6%C6;045J%,"9L!5.!-@*')'d!<+7!"<%&V<62!?AD;002!-(#.!
//2!/D;Gi!Q'*%$&*!5.!=<K2!?ADD::2!-(#.!F02!/D;Gi!?'@*#*2!$)!<6.!5.!
P'+<+&$!<+7!E'+'+e!]+5$%)O$+)!4*#(.2!?A3D:32!9*5.!ID2!/D;Gi!
]+)$%)<)$!N%)<)$!*>!E*+)'66<2!a#.!5.!"<&'!!&!4*.2!?A3IIF2!=$&.!I02!
/D;;i! <+7! E<+'6<! E*)*#! 4*.2! ]+&.! 5.! P6*#$%2! ?ADFD12! -Ve.! /12!
/D;18.`
%
%
"<%hV'O<@<*!5.!E*#<!,?A/I1D02!E<K!I;2!/D1082%2%5;0K6;%
A21%84<K08D65%0<%2%8;030<2?%8216%4<%`2F%/ZG%/Z]TG%2<5%A21%16<H
D6<865%234<=%4DB6;%DB0<=1G%D4%0<563<07F%DB6%4776<565%C2;DF%0<%
DB6%234:<D%47%,NGTTTJ%+4A6K6;G%1205%5;0K6;%A21%0<14?K6<DJ%]%%V$S!
PB2D%01%DB6%C;618;0CD0K6%C6;045%74;%1:0<=%DB6%5;0K6;L1%63C?4F6;%
74;% B01% 1:E10502;F% ?02E0?0DFd% TN?=S! *6<% F62;1G% 74;% DB6% 1:0D% 01%
E2165G%<4D%4<%DB6%5;0K6;L1%<6=?0=6<86G%E:D%4<%DB6%!%<2?%R:5=36<D%
0<%DB6%8;030<2?%8216J
%
%
"<%T$'#%!*>!R'+7'*+e!5.!4*OO'))$$2!?A/;DG;2!-(#'6!F02!/D1:2!
0D%A21%B6?5%DB2D%2<%28D04<%D4%6<74;86%2%5680104<%>4;%D4%;6K0K6%2%
84:;D%R:5=36<D@%C;618;0E61%:C4<%DB6%6MC0;2D04<%47%%)$+!K$<#%%7;43%
DB6%52D6%DB6%5680104<%E68236%!%<2?J
(
(
A&':1(O,(M'=6'21
N?LTLS*3(A%#,(KT3()TXS
%
!
P-4QRS%`4;6%DB2<%/T%F62;1%27D6;%2%R:50802?%843C;43016%
B25%E66<%2CC;4K65G%C?20<D077%14:=BD%D4%80D6%5676<52<D%0<%84<D63CD%
]Q
%
S;DJ%//\\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
47%84:;D%74;%B2K0<=%2??6=65?F%K04?2D65%DB6%R:5=36<DJ%]%%V$S!`2F%
DB01%E6%54<6d
%
!
TN?=S! -4G% DB01% A0??% <4D% E6% 2??4A65G% 74;% 0<% 67768D% AB2D%
C?20<D077%A2<D65%A21%D4%6<74;86%2%R:5=36<D%DB2D%B25%C;618;0E65%
>/T%F62;1%B25%C21165@%DB;:%DB6%0<1D0D:D04<%47%84<D63CD%C;48665H
0<=1J
GSH( !%#$12(D1#(!%#64&&.(-40'9(12(`"$##'2(@12#"4%#
(
(
-6%#123('#(4&,(O,(Q4=4"3('#(4&,
N?L+LST3(^42,(L)3()TXU
(
!
P-4QRS!#0??2;0<%14?5%0<%/Z\U%D4%f2E2;%2%C2;86?%47%?2<5%4<%
DB6%0<1D2??36<D%C?2<J%f2E2;%0<%D:;<%B25%%2<%4;2?%2=;6636<D%A0DB%
O:8D4<%DB2D%DB6%?2DD6;%A4:?5%C2F%B2?7%47%DB6%C;086G%2<5%DB:1%4A<%
B2?7%47%DB6%?2<5J%O:8D4<%C205%B6;%1B2;6%D4%f2E2;G%2<5%A21%=0K6<%
0<%/Z\U%;6860CD1%28_<4A?65=0<=%DB6%C2F36<DJ
%
%
"<%/Z\aG%#0??2;0<%6M68:D65%2%74;32?%5665%47%12?6%0<%72K4;%47%
f2E2;G%AB4%0336502D6?F%E:0?D%2%B4:16%4<%B2?7%47%DB6%?4DJ%O:8D4<%
D44_%C41161104<%47%DB6%4DB6;%B2?7G%2<5%E:0?D%03C;4K636<D1%DB6;H
64<J%PB6<%O:8D4<%21_65%74;%2%16C2;2D6%D0D?6G%1B6%A21%;67:165G%
2<5%14G%0<%/ZUYG%1B6%!%?65%2%843C?20<D%D4%843C6?%f2E2;%D4%6M68:D6%
2%74;32?%5665%47%12?6%0<%B6;%72K4;J%*B6%!4:;D%47%SCC62?1%;:?65%
DB2D%DB6%28D04<%B25%2?;625F%C;618;0E65%E682:16%DB01%A21%2<%28H
D04<%D4%6<74;86%2%A;0DD6<%84<D;28DG%2<5%1B4:?5%B2K6%E66<%E;4:=BD%
A0DB0<%/T%F62;1%7;43%/Z\UG%:<56;%S;DJ%//\\%47%DB6%!0K0?%!456J%
]%%V$S%+21%DB6%28D04<%;62??F%C;618;0E65d
%
!
TN?=S%-4G%DB6%28D04<%B21%<4D%;62??F%C;618;0E65J%*B6%6;;4;%
47%DB6%!4:;D%47%SCC62?1%01%DB2D%0D%84<1056;65%DB6%6M68:D04<%47%DB6%
;6860CD%>0<%/Z\U@%21%DB6%E2101%47%DB6%28D04<J%*B6%;62?%E2101%47%DB6%
28D04<%01%O:8D4<L1%*X+$#%W'(!>2<5%C41161104<%47%DB6%C;4C6;DF@J%
-4%6<74;8636<D%47%DB6%84<D;28D%47%12?6%01%<66565G%E682:16%DB6%
C;4C6;DF%B21%2?;625F%E66<%56?0K6;65%D4%O:8D4<G%2<5%4A<6;1B0C%
DB6;647%B21%2?;625F%E66<%D;2<176;;65%EF%4C6;2D04<%47%?2A%:<56;%
S;DJ%/\Q\G%;676;;0<=%D4%C;4C6;DF%14?5%EF%2%C6;14<%>f2E2;@%AB4%
1:E169:6<D?F%E684361%DB6%4A<6;%DB6;647J%*B6%28D04<%B6;6%DB6;6H
74;6%01%4<6%)*!YV'$)!)')6$G%2<5%21%O:8D4<%01%0<%C41161104<G%DB6%28D04<%
01%03C;618;0CD0E?6J
]\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//\\
G+H( J4.<'2#(1;(N$;'(>206"42%'
(
(
J8$&$//$2'(!<'"$%42(&$;'(W(Q'2'"4&(>206"42%'(@1,(
O,(^69:'(N1"'(M,(e4&'2%$4?-4:4&4%043(
ME@(1;(N$=<42423(@4<4"$2'0([6"3(-",(S+3('#%,3(
QM()LTXX+3(!6:,()3(K**K,
%
!
P-4QRS% &<% ^:<6% NTG% /ZZ]G% C;0K2D6% ;61C4<56<D1G% 21% ?6H
=0D032D6%8B0?5;6<%2<5%74;865%B60;1%47%DB60;%?2D6%72DB6;G%)2:1D0<4%
$:32<0:=G% !%?65% A0DB% DB6% b*!% 47% $0E32<2<G% !232;0<61% .:;%
548_6D65%21%!0K0?%!216%$HaYaG%2%843C?20<D%74;%;684K6;F%47%1:3%
47%34<6F%2=20<1D%C6D0D04<6;%2??6=0<=%DB2DI%>/@%DB60;%72DB6;%A21%
0<1:;65%EF%C6D0D04<6;%:<56;%$076%"<1:;2<86%,4?08F%/QT]\YU%A0DB%
2%7286%K2?:6%47%,]TGTTTW%>N@%DB60;%72DB6;%5065%47%V84;4<2;F%DB;43H
E4101X%4<%-4KJ%N]G%/ZYTW%>Q@%4<%^:<J%NNG%/ZY/G%DB6F%8?20365%2<5%
84<D0<:4:1?F%8?20365%2??%DB6%C;486651%2<5%0<D6;61D1%:<56;%DB6%
?076%0<1:;2<86%C4?08F%0<%DB6%234:<D%47%,U\/GTTTW%2<5%>\@%561C0D6%
;6C62D65%5632<51%74;%C2F36<D%2<5l4;%16DD?636<D%47%DB6%8?203%
5:6%7;43%C6D0D04<6;G%DB6%?21D%47%AB08B%A21%4<%'68J%/G%/ZZ\G%C6D0H
D04<6;%!%<2??F%;67:165%4;%5012??4A65%1205%8?203%4<%)6EJ%/\G%/ZZ]J%
"<% K06A% DB6;647G% C;0K2D6% ;61C4<56<D1% !%?65% DB60;% 843C?20<D% 4<%
^:<J%NTG%/ZZ]J
%
%
,6D0D04<6;%!%?65%2<%S<1A6;%A0DB%!4:<D6;8?203%2<5%`4D04<%
D4%'013011G%84<D6<50<=%DB2DI
/J%
DB6%82:16%47%28D04<%47%C;0K2D6%;61C4<56<D1%B25%C;618;0E65%
2<5%DB6F%2;6%=:0?DF%47%?28B61W
NJ%
0D%B25%56<065%C;0K2D6%;61C4<56<D1L%8?203%0<%2%?6DD6;%52D65%
`2;J%/NG%/ZYN%4<%DB6%=;4:<5%47%84<862?36<D%4<%DB6%C2;D%47%
DB6%568;62165%0<1:;65%)2:1D0<4%AB6<%B6%2116;D65%0<%B01%
2CC?082D04<%74;%0<1:;2<86%84K6;2=6%DB2D%B6%B25%<4D%E66<%
D;62D65%74;%0<5082D04<%47%V8B61D%C20<G%C2?C0D2D04<G%B0=B%E?445%
C;611:;6G%;B6:32D08%76K6;G%B62;D%3:;3:;G%B62;D%2DD28_%4;%
4DB6;%5014;56;%47%DB6%B62;D%4;%E?445%K6116?X%AB6<G%0<%728DG%
B6%A21%2%_<4A<%BFC6;D6<10K6%10<86%/Za\W
QJ%
C;0K2D6%;61C4<56<D1%16<D%2%?6DD6;%52D65%`2F%N]G%/ZYQ%;6H
9:61D0<=%74;%;684<1056;2D04<%47%DB6%56<02?W%2<5
\J%
0<%2%?6DD6;%52D65%^:?F%//G%/ZYQG%0D%;60D6;2D65%0D1%5680104<%D4%
56<F%DB6%8?203%74;%C2F36<D%47%DB6%C;486651%34;6%DB2<%/T%
F62;1%?2D6;G%4;%4<%'68J%/G%/ZZ\G%0D%;6860K65%2%?6DD6;%7;43%^416%
]]
%
S;DJ%//\\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!J% !?2;4G% 2% C;4K0<802?% E42;5% 363E6;% 47% !232;0<61% .:;G%
;60D6;2D0<=%DB6%62;?F%;69:61D%74;%;684<1056;2D04<%AB08B%0D%
56<065%0<%2%?6DD6;%52D65%)6EJ%/\G%/ZZ]J
%
%
,;0K2D6%;61C4<56<D1%4CC4165%DB6%34D04<%D4%5013011J%&<%^:<J%
aG%/ZZU%DB6%b*!%011:65%2<%&;56;%AB08B%;6251G%0<%C2;DI%VS7D6;%2%
C6;:12?%47%DB6%34D04<%D4%5013011%EF%5676<52<D1L%84:<16?%2<5%DB6%
4ER68D04<%1:E30DD65%EF%C?20<D077L1%84:<16?G%DB6%84:;D%!%<51%DB2D%DB6%
32DD6;1%D;62D65%0<%DB60;%;61C68D0K6%C?6250<=1%2;6%6K056<D02;F%0<%
<2D:;6G%B6<86G%DB6%<686110DF%47%2%D;02?%4<%DB6%36;0D1JX%,6D0D04<6;L1%
34D04<1%74;%;684<1056;2D04<%A21%56<065%EF%DB6%b*!%0<%0D1%&;56;%
52D65%'68J%/NG%/ZZa%:CB4?50<=G%B4A6K6;G%0<%DB6%1236%&;56;%DB6%
8?203%47%C;0K2D6%;61C4<56<D1L%84:<16?%DB2D%DB6%;:<<0<=%47%DB6%
/THF62;% C6;045% A21% V1D4CC65X% 4<% `2F% N]G% /ZYQ% AB6<% C;0K2D6%
;61C4<56<D1%;69:61D65%74;%2%;684<1056;2D04<%47%DB6%56<02?G%2<5%0D%
A21%4<?F%4<%)6EJ%/\G%/ZZ]%AB6<%C6D0D04<6;%!%<2??F%5680565%D4%56<F%
DB60;%8?203%DB2D%DB6%/THF62;%C6;045%E6=2<%D4%;:<J%,6D0D04<6;%!%?65%
2%C6D0D04<%74;%&$#)'*#<#'%0<%DB6%!4:;D%47%SCC62?1%>!S@J%&<%SC;J%
QTG%/ZZZG%DB6%!S%;6<56;65%0D1%5680104<%!%<50<=%<4%=;2K6%2E:16%
47%5018;6D04<%84330DD65%EF%DB6%84:;D%<!YV*!AB6<%0D%011:65%DB6%
&;56;1%52D65%^:<J%aG%/ZZU%2<5%52D65%'68J%/NG%/ZZaG%;61C68D0K6?FJ%
+6<86G%DB6%C;616<D%C6D0D04<%74;%;6K06AJ
%
!
]RR^NS% PB6DB6;% 4;% <4D% DB6% 843C?20<D% !%?65% EF% C;0K2D6%
;61C4<56<D1%74;%C2F36<D%47%?076%0<1:;2<86%01%2?;625F%E2;;65%EF%
C;618;0CD04<%47%28D04<J%
%
!
TN?=S!*B6%b*!L1%;:?0<=%DB2D%DB6%82:16%47%28D04<%47%C;0H
K2D6%;61C4<56<D1%B25%<4D%C;618;0E65G%01%2;E0D;2;F%2<5%C2D6<D?F%
6;;4<64:1% 74;% <4D% E60<=% 74:<565% 4<% 6K056<86% 4<% ;684;5G% 2<5G%
DB6;674;6G%DB6%1236%01%K405J%!4<169:6<D?FG%AB0?6%DB6%!S%505%<4D%
6;;%0<%:CB4?50<=%DB6%^:<J%aG%/ZZU%&;56;%47%DB6%b*!G%0D%84330DD65%
2%;6K6;10E?6%6;;4;%AB6<%0D%568?2;65%DB2D%DB6%b*!%505%<4D%84330D%
2<F%=;2K6%2E:16%47%5018;6D04<%0<%011:0<=%DB6%&;56;%52D65%'68J%
/NG%/ZZaJ%*B6%!S%1B4:?5%B2K6%=;2<D65%DB6%C6D0D04<%74;%&$#)'*#<#'%
21120?0<=%1205%&;56;%47%'68J%/NG%/ZZaJ%.205%&;56;%A21%011:65%
A0DB%=;2K6%2E:16%47%5018;6D04<%74;%E60<=%C2D6<D?F%6;;4<64:1%2<5%
2;E0D;2;FG%DB:1G%56C;0K0<=%C6D0D04<6;%47%5:6%C;48611J%
%
%
*B6%C6D0D04<%01%C2;D?F%=;2<D65J%*B6%21120?65%!S%5680104<%
52D65%SC;J%QTG%/ZZZ%0<1472;%4<?F%21%0D%:CB6?5%DB6%&;56;%52D65%
'68J%/NG%/ZZa%01%;6K6;165%2<5%16D%21056J%S%<6A%R:5=36<D%01%6<H
D6;65%;6K6;10<=%2<5%16DD0<=%21056%DB6%&;56;%52D65%'68J%/NG%/ZZa%
]U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;D1J%//\]H//\U
47%DB6%b*!%47%$0E32<2<G%!232;0<61%.:;G%O;J%]UG%2<5%27!%;30<=%
0D1%&;56;%52D65%^:<J%NTG%/ZZ]J%.205%b*!%01%50;68D65%D4%C;48665%
A0DB%501C2D8B%A0DB%!0K0?%!216%$HaYaJ
(
!"#,( ))US,( E8'( ;1&&17$2:( 4%#$120( <60#( ='( %1<<'2%'9(
7$#8$2(0$b(.'4"0F
(
G)H( d/12(42(1"4&(%12#"4%#c
(
GKH( d/12(4(5640$?%12#"4%#,
@ABBCDEF
G)H( !%#$120(E84#(J"'0%"$='($2(+(h'4"0
%
%
*B6%S;D08?6%6<:36;2D61%DA4%_0<51J
GKH( Cb4</&'0
>2@% "<%]6<e<+!5.!-7<O$2!?A/D1/D2!E<#.!F/2!/D1:2%0D%A21%B6?5%
DB2D%2<%28D04<%D4%6<74;86%2<%*#<6%84<D;28D%47%D6<2<8F%>28D04<%
D4%843C6?%DB6%?2<5?4;5%D4%;60<1D2D6%DB6%D6<2<D%D4%DB6%?2<5@%
84361%:<56;%S;DJ%//\]%>10M%F62;1@%2<5%+*)!:<56;%S;DJ%//\Z%
>!%K6%F62;1@%47%DB6%!0K0?%!456J
>E@% "<%L$6O<+!4*O(<+'<2!]+&.!5.!4$+)#<6!L<+M2!?A/;0::2!aV6.!
/:2!/D102!0D%A21%B6?5%DB2D%2<%28D04<%D4%;684K6;%2%74;60=<%
6M8B2<=6% D2M% $##*+$*V%6K% 84??68D65% EF% DB6% !6<D;2?% O2<_%
,L<+eM*! R$+)#<68! 01% 4<6% E2165% 4<% DB6% 9:210H84<D;28D% 47%
%*6V)'*!'+7$@')'G%2<5%0DG%DB6;674;6G%C;618;0E61%0<%%'J!K$<#%J
GLH( !%#$120(`8'"'(J'"$190(!"'(D1#(P$b'9
%
%
S<F%4DB6;%28D04<%AB416%C6;045%B21%<4D%E66<%!%M65%0<%DB6%
!0K0?%!456%4;%0<%4DB6;%?2A1G%D4%E6%84:<D65%7;43%DB6%D036%DB6%;0=BD%
47%28D04<%288;:61J%,-#).!//:D2!4'5'6!4*7$8.
!
!"#,())U+,(E8'(;1&&17$2:(4%#$120(<60#(='($20#$#6#'9(7$#8$2(
;16"(.'4"0F
(
G)H( d/12(42($2_6".(#1(#8'("$:8#0(1;(#8'(/&4$2#$;;c
(
GKH( d/12(4(5640$?9'&$%#,
]a
%
S;DJ%//\U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
@ABBCDEF
G)H( !%#$120(E84#(J"'0%"$='($2(U(h'4"0
(
%
*B6%S;D08?6%6<:36;2D61%DA4%_0<51J%
%
%
&DB6;%28D04<1%0<8?:56I
>2@% S8D04<%74;%DB6%2<<:?36<D%47%32;;02=6%E2165%4<%<4<H2=6G%
7;2:5G%74;86G%4;%0<D03052D04<J%,-#).!3G2!(<#%.!/2!:2!<+7!!;2!
4'5'6!4*7$8.
>E@% S8D04<%74;%DB6%#$5*&<)'*+!4;%#$7V&)'*+!>DB01%01%28D:2??F%4<?F%
74;%#$7V&)'*+@%47%54<2D04<1%E2165%4<%E0;DBG%2CC62;2<86G%4;%
254CD04<%47%2%8B0?5J%,-#).!G1F2!4'5'6!4*7$8.
>8@%
S8D04<%D4%;6K4_6%2%54<2D04<%74;%<4<H843C?02<86%A0DB%84<50H
D04<1%03C4165%EF%54<4;%:C4<%54<66G%DB6%C6;045%D4%E6%84:<D65%
7;43%DB6%<4<H843C?02<86%A0DB%DB6%1205%84<50D04<J%,-#).!G1:2!
4'5'6!4*7$8.
>5@% S8D04<%74;%#$%&'%%'*+!47%84<D;28D1J%,-#).!/F3D2!(<#.!/2!4'5'6!
4*7$8.
!
!
_9HQNS!"<%8216%47%C6;14<1%:<56;%=:2;502<1B0C%2<5%0<%
DB6%8216%47%2E16<D661G%DB6%C6;045%47%C;618;0CD04<%1B2??%<4D%
E6=0<%:<D0?%DB6%D6;30<2D04<%47%DB6%74;36;L1%0<82C280DFG%4;%
:<D0?%DB6%543080?6%47%DB6%?2DD6;%01%_<4A<J%,-#).!/F3D2!(<#.!
I2!4'5'6!4*7$8.`
>6@% S8D04<%74;%DB6%2<<:?36<D%47%2%84<D;28DJ%,-#).!/FD/2!(<#.!/2!
4'5'6!4*7$8.
!
!
_9HQNS%"<%82161%47%0<D03052D04<G%K04?6<86G%4;%:<5:6%
0<"%:6<86G%DB6%C6;045%01%84:<D65%7;43%DB6%D036%DB6%K0D02D04<%
862161%,-#).!/FD/2!(<#.!F2!4'5'6!4*7$8i%0<%8216%47%301D2_6%4;%
7;2:5G%7;43%DB6%D036%47%50184K6;F%47%DB6%1236%,-#).!/FD/2!
(<#.!:2!4'5'6!4*7$8i%2<5%0<%82161%47%84<D;28D1%6<D6;65%0<D4%
EF%30<4;1%4;%4DB6;%0<82C280D2D65%C6;14<1G%7;43%DB6%D036%
DB6%=:2;502<1B0C%862161J%,-#).!/FD/2!(<#.!;2!4'5'6!4*7$8.`
GKH( Cb4</&'(1;(i>2_6".(#1(#8'(M$:8#0(1;(#8'(J&4$2#$;;j
(
%
"<%j<6$+&'<!5.!4$@V!"*#)6<+7!4$O$+)!4*.2!$)!<6.2!?A/FG/;2!
=$&.!IF2!/D;D2!2%8216%0<K4?K0<=%2%C?20<D077%16C2;2D65%7;43%B01%
63C?4F36<D%74;%2??6=65%:<R:1D0!%2E?6%82:161G%DB6%.:C;636%!4:;D%
]Y
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//\U
B6?5%DB2D%DB6%28D04<%01%4<6%74;%V0<R:;F%D4%DB6%;0=BD1%47%DB6%C?20<D077G%
2<5%3:1D%E6%E;4:=BD%A0DB0<%\%F62;1JX
GLH( M6&'0(;1"(]640$?I'&$%#0
>2@% "<%2%9:210H56?08DG%DB6%C6;045%E6=0<1%7;43%DB6%52F%DB6%9:210H
56?08D%A21%84330DD65J
(
(
J46&423('#(4&,(O,([4"4=$43('#(4&,
N?)*SUK3(^6&,(L)3()TSR
(
!
P-4QRS!O2184%A21%;050<=%4<%2%E:1%4A<65%EF%5676<5H
2<D%.2;2E02%AB6<%0D%84??0565%A0DB%2<4DB6;%D;:8_%4A<65%EF%
DB0;5HC2;DF%5676<52<D%$03J%O2184%5065%4<%^:?J%N]G%/Z]/J%&<%
SC;J%/ZG%/Z]]G%2%843C?20<D%2=20<1D%.2;2E02%2<5%B01%5;0K6;%
A21%!%?65%EF%DB6%A054A%2<5%B60;1J%&<%^:?J%//G%/Z]]%>27D6;%
34;6%DB2<%\%F62;1%7;43%DB6%52D6%47%DB6%84??0104<@G%.2;2E02%
0<%D:;<%!%?65%2%DB0;5HC2;DF%843C?20<D%2=20<1D%$03%2<5%B6;%
5;0K6;J%]%%V$S!);43%AB2D%D036%3:1D%DB6%\HF62;%C6;045%E6%
84:<D65%74;%DB6%!%?0<=%47%DB6%DB0;5HC2;DF%843C?20<D%h%7;43%
DB6%52F%47%DB6%84??0104<%4;%7;43%DB6%!%?0<=%47%DB6%C;0<80C2?%
843C?20<Dd
%
!
TN?=S!*B6%C6;045%E6=0<1%7;43%DB6%52F%47%DB6%84??0104<G%
10<86%DB6%28D04<%01%E2165%4<%2%YV<%'A7$6'&)J%*B6%DB0;5HC2;DF%
843C?20<D%A21%DB6;674;6%501301165J
>E@% S<%28D04<%74;%5232=61%2;010<=%7;43%CBF1082?%0<R:;061%E6H
82:16%47%2%D4;D%3:1D%E6%!%?65%A0DB0<%\%F62;1J%,R$$!N%&V$)<!
5.!P<+7'<6<+2!?AFD1G;2!9*5.!ID2!/DG:8.%+4A6K6;G%AB6<%2%
8;030<2?%28D04<%74;%DB6%1236%CBF1082?%0<R:;061%01%0<1D0D:D65G%
DB6%80K0?%28D04<%74;%;684K6;F%47%80K0?%?02E0?0DF%2;010<=%7;43%DB6%
4776<16%8B2;=65%01%03C?065?F%0<1D0D:D65%A0DB%DB6%8;030<2?%
28D04<G%:<?611%DB6%4776<565%C2;DF%6MC;611?F%A20K61%DB6%80K0?%
28D04<%4;%;616;K61%B01%;0=BD%D4%0<1D0D:D6%0D%16C2;2D6?FJ
(
(
I':1&&4%$12(O,(N$(@86$
N?))+U*3(B4.(KK3()TS+
(
!
P-4QRS%S%D;27!%8%288056<D%488:;;65%4<%.6CDJ%NZG%/Z\ZJ%
S%8;030<2?%8216%A21%E;4:=BD%2=20<1D%DB6%5676<52<DL1%5;0K6;%
0<%DB6%^:1D086%47%DB6%,6286%!4:;D%><4A%`:<080C2?l`6D;4C4?0H
D2<%*;02?%!4:;D@%4<%'68J%/QG%/Z\ZJ%*B6%8216%A21G%B4A6K6;G%
]Z
%
S;DJ%//\U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
6K6<D:2??F%501301165G%A0DB4:D%C;6R:5086G%EF%DB6%!4:;D%47%
)0;1D%"<1D2<86G%4<%)6EJ%/UG%/Z]\J%+2K0<=%720?65%D4%B2K6%DB6%
8;030<2?%8216%;60<1D2D65%DB;:%DB6%!%182?L1%47!%86G%DB6%C?20<D077%
!%?65% 2% 80K0?% 28D04<% 74;% 5232=61% 2=20<1D% DB6% 5676<52<DL1%
63C?4F6;J
%
!
TN?=S%*B6%80K0?%28D04<%505%<4D%C;618;0E6G%0D%2CC62;H
0<=% DB2D% DB6% C?20<D077% <60DB6;% 6MC;611?F% A20K65% DB6% 80K0?%
28D04<%+*#%;616;K65%B01%;0=BD%D4%!%?6%2%16C2;2D6%80K0?%28D04<J%
O682:16%DB6%80K0?%21C68D%;6320<65%A0DB%DB6%8;030<2?%8216G%
DB6%C6;045%47%C;618;0CD04<%A21%1:1C6<565%7;43%'68J%/QG%/Z\Z%
:C%D4%)6EJ%/UG%/Z]\%>DB6%C6;045%AB6<%DB6%8;030<2?%8216%X<%!
($+7'+e@J
%
!
_9HQNS!*B6%;:?0<=%1D2D65%2E4K6%01%84;;68D%07%DB6%80K0?%
28D04<%01%E2165%4<%DB6%!b"`(J%"7%DB6%80K0?%28D04<%01%E2165%
4<%2%mcS."H'($"!*%>AB08B%01%84<1056;65%2<%'+7$($+7$+)!
80K0?%28D04<@G%DB6%0<1D0D:D04<%47%DB6%8;030<2?%28D04<%&<++*)%
B2K6%DB6%67768D%47%0<D6;;:CD0<=%DB6%80K0?%28D04<%E2165%4<%1:8B%
9:210H56?08DJ%,"<V6<+2!$)!<6.!5.!R<#<@'<2!$)!<6.2!?A/0;:I2!aV6.!
F/2!/D;38.`
GUH( M6&'(d29'"(#8'(@19'(1;(@$O$&(J"1%'96"'
%
%
c<56;% DB6% !456% 47% !0K0?% ,;4865:;6G% 2<% 28D04<% D4% ;684K6;%
C6;14<2?%C;4C6;DFG%2<5%2<%28D04<%74;%DB6%;684K6;F%47%5232=61%
74;%D2_0<=G%;6D20<0<=G%4;%0<R:;0<=%C6;14<2?%C;4C6;DFG%82<%4<?F%E6%
E;4:=BD%A0DB0<%\%F62;1%27D6;%DB6%;0=BD%47%28D04<%288;:61J
N4/6V(O,([.(d.
N?)**XT3(B4.()X3()TSX
(
!
P-4QRS! % "<% 2% 80K0?% 8216% E6DA66<% DB6% 5676<52<D% 2<5% B01%
A076G%86;D20<%R6A6?;061%E6?4<=0<=%D4%DB6%C?20<D077%A6;6%2??6=65%D4%
B2K6%E66<%A;4<=7:??F%2DD28B65%4<%S:=J%N\G%/Z\QJ%c<74;D:<2D6?FG%
7V#'+e%DB6%?0E6;2D04<G%DB6%R6A6?1%A6;6%?44D65%7;43%DB6%1276%47%
DB6%1B6;077J%&<%SC;J%NaG%/Z]NG%DB6%C?20<D077%!%?65%2<%28D04<%74;%DB6%
;684K6;F%47%DB6%R6A6?;061%4;%47%DB60;%K2?:6J%]%%V$S%+21%DB6%28D04<%
2?;625F%C;618;0E65d
%
%
TN?=S% *B6% 28D04<% B21% C;618;0E65J% PB6DB6;% DB6% 8216% 01%
84<1056;65%21%4<6%74;%DB6%;684K6;F%47%C6;14<2?%C;4C6;DF%4;%4<6%
74;%5232=61%E2165%4<%2%)*#)G%DB6%C?20<D077%B25%4<?F%74:;%F62;1%
UT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//\a
7;43%S:=J%N\G%/Z\Q%4;%:C%D4%S:=J%N\G%/Z\aG%A0DB0<%AB08B%D4%!%?6%
DB6%28D04<%2=20<1D%.F%cFJ
(
!"#,())UX,(E8'(;1&&17$2:(4%#$120(<60#(='(!(&'9(7$#8$2(12'(
.'4"F
(
G)H( P1"(;1"%$=&'('2#".(429(9'#4$2'"c
(
GKH( P1"(9';4<4#$12,
@ABBCDEF
G)H( !%#$120(E84#(J"'0%"$='($2()(h'4"
%
%
*B6%S;D08?6%6<:36;2D61%DA4%_0<51J%&DB6;1%0<8?:56I
>2@% S<%28D04<%74;%?6=2?%16C2;2D04<G%D4%E6%84:<D65%7;43%_<4A?H
65=6%47%DB6%82:16%>E:D%DB6%28D04<%3:1D%E6%E;4:=BD%A0DB0<%
]%F62;1%7;43%488:;;6<86@J%,-#).!/0I2!4'5'6!4*7$8.
!
9*)$S%c<56;%S;DJ%]a%47%DB6%)230?F%!456G%DB6%C;618;0CD0K6%
C6;045% 74;% !%?0<=% 2<% 28D04<% 74;% ?6=2?% 16C2;2D04<% 1B2??% E6%
84:<D65%7;43%DB6%52D6%47%488:;;6<86%47%DB6%82:16J
>E@% S8D04<%D4%'O(Ve+!DB6%6$e')'O<&K%47%2%8B0?5G%DB6%C6;045%D4%E6%
84:<D65%7;43%DB6%#$&*#7'+e%47%DB6%E0;DB%0<%DB6%$482?%!0K0?%
b6=01D;FG%07%DB6%B:1E2<5%1B4:?5%E6%0<%DB6%%<O$!C?286G%4;%
0<%2%C;4C6;%8216G%2<F%47%B01%B60;1J%,-#).!I1F2!(<#.!/2!4'5'6!
4*7$8.
!
_9HQNS%"7%DB6%B:1E2<5%4;%B01%B60;1%2;6%2E16<DG%DB6%C6;045%
1B2??%E6%/Y%34<DB1%07%DB6F%1B4:?5%;61056%0<%DB6%,B0?0CC0<61W%
N%F62;1%07%2E;425W%07%DB6%E0;DB%47%DB6%8B0?5%01%84<862?65G%DB6%
C6;045%01%D4%E6%84:<D65%7;43%DB6%50184K6;F%47%DB6%7;2:5J%,-#).!
I1F2!(<#.!I2!4'5'6!4*7$8.`
>8@%
S8D04<%74;%DB6%;6K482D04<%47%2%54<2D04<%4<%DB6%=;4:<5%47%
'+e#<)')V7$G% DB6% C6;045% D4% E6% 84:<D65% 7;43% DB6% D036% DB6%
54<4;%B25%_<4A?65=6%47%DB6%728DG%2<5%0D%A21%C4110E?6%74;%
B03%D4%E;0<=%DB6%28D04<J%,-#).!/1D2!4'5'6!4*7$8.
>5@% S8D04<%74;%#$%&'%%'*+%4;%74;%7<O<e$%%74;%12?6%47%0334K2E?6%
6<8:3E6;65%A0DB%2<F%<4<H2CC2;6<D%E:;56<%4;%16;K0D:56G%
DB6%C6;045%D4%E6%84:<D65%7;43%DB6%6M68:D04<%47%DB6%5665J%
,-#).!/;102!(<#.!F2!4'5'6!4*7$8.
U/
%
S;DJ%//\a
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
>6@% S8D04<% 74;% 7<O<e$%% ><4% ;61801104<% 2<F34;6@% 74;% 12?6% 47%
0334K2E?6% 6<8:3E6;65% A0DB% 2<F% <4<H2CC2;6<D% E:;56<%
4;%16;K0D:56G%DB6%4<6%F62;%27D6;%DB6%6M68:D04<%47%DB6%5665%
B2K0<=%?2C165G%1205%C6;045%D4%E6%84:<D65%7;43%DB6%52D6%4<%
AB08B% DB6% E:;56<% 4;% 16;K0D:56% 01% 50184K6;65J% ,-#).! /;102!
(<#.!:2!4'5'6!4*7$8.
GKH( M6&'($2(@40'(1;(P1"%$=&'(C2#".(429(I'#4$2'"
%
%
"<%>*#&'@6$!$+)#KG%DB6%C6;045%01%84:<D65%7;43%52D6%47%:<?2A7:?%
56C;0K2D04<%,R$&.!/2!CV6$!G02!/DDG!CV6$%!*>!4'5'6!"#*&$7V#$8i!0<%
8216%47%7;2:5%4;%1D62?DBG%84:<D65%7;43%50184K6;F%47%DB6%1236J%"<%
V+6<X>V6!7$)<'+$#G%DB6%C6;045%01%D4%E6%84:<D65%7;43%DB6%52D6%47%
6<%)!7$O<+7.!,R<#*+<2!$)!<6.!5.!j'66$e<%2!?AIID3:2!E<#.!I2!/D13i!
=L"! 5.! 4<+*+*K2! ?AID:II2! R$().! F02! /DG0i! <+7! 4<6'(<K<+! 5.!
"<%&V<62!?AII1:;2!R$(.!/32!/D1G8.
GLH( M6&'($2(@40'(1;(N$='&
(
%
"<%?0E6?G%AB0?6%0D%01%D;:6%DB2D%DB6%A;0DD6<%567232D04<%E68436%
28D04<2E?6% :C4<% 0D1% C:E?082D04<% >'.$.G% 8433:<082D04<% D4% DB0;5%
C6;14<@G%1D0??%DB6%?0E6?4:1%32DD6;%3:1D%!%;1D%E6%6MB0E0D65%D4%DB6%
C6;14<% ?0E6??65% E674;6% DB6% 28D04<% 82<% E6% E;4:=BDJ% +6<86G% DB6%
4<6HF62;%C6;045%;:<1%7;43%DB6%D036%DB6%4776<565%C2;DF%_<4A1%47%
DB6%?0E6?4:1%32DD6;J%S%C6;14<%5672365%82<%B2;5?F%E6%6MC68D65%
D4%0<1D0D:D6%C;486650<=1%74;%5232=61%2;010<=%7;43%?0E6?%AB6<%B6%
B21%<4%_<4A?65=6%47%DB6%1205%?0E6?J%,-6&<+)<#<2!$)!<6.!5.!-O*#<+)*2!
?A/I:DF2!P$@.!ID2!/D108.
GUH( !%#$120(E84#(J"'0%"$='($2([$b(G+H(B12#80
>2@% S8D04<%74;%DB6%#$7V&)'*+!47%DB6%C;086%4;%74;%#$%&'%%'*+!47%2%
12?6%47%;62?%61D2D6%>EF%DB6%:<0D%2;62@%07%DB6%K6<54;%01%:<2E?6%
D4%56?0K6;%4<%5632<5%2??%DB2D%01%1D2D65%0<%DB6%84<D;28DJ%,-#).!
/;:F2!'+!#$!-#).!/;FD2!4'5'6!4*7$8.
>E@% S8D04<%74;%#$7V&)'*+!47%DB6%C;086%4;%74;%#$%&'%%'*+!47%2%12?6%,<!
&V$#(*!&'$#)*8!47%;62?%61D2D6%>3256%A0DB%36<D04<%47%E4:<52H
;061@%07%DB6%K6<54;%01%:<2E?6%D4%56?0K6;%2??%DB2D%01%0<8?:565%
A0DB0<%1205%E4:<52;061J%,-#).!/;:F2!'+!#$!-#).!/;:I2!4'5'6!
4*7$8.
UN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//\Y
(
!"#,())UR,(E8'(&$<$#4#$120(1;(4%#$12(<'2#$12'9($2(!"#$%&'0(
))U*(#1())UK3(429())UU(#1())UX(4"'(7$#816#(/"'_69$%'(#1(#810'(
0/'%$!('9($2(1#8'"(/4"#0(1;(#8$0(@19'3($2(#8'(@19'(1;(@1<<'"%'3(
429($2(0/'%$4&(&470,
@ABBCDEF
G)H( J'"$190(1;(J"'0%"$/#$12([/'%$!('9(C&0'78'"'
%
%
S1056%7;43%DB6%C6;0451%2<5%28D04<1%0<5082D65%0<%DB6%S;D08?61%
1D2D65G%4DB6;%C6;0451%2<5%4DB6;%28D04<1%2;6%74:<5%6?16AB6;6J
(
(
-404(O,(M'/6=&$%
QM(USKXX3(!6:,(S3()TRS
%
%
*B6% ]HF62;% C6;045% 27D6;% 21161136<D% A0DB0<% AB08B% 84:;D%
28D04<%74;%D2M%84??68D04<%1B2??%E6%0<1D0D:D65%01%1:1C6<565%5:;0<=%
DB6%C6;045%DB6%O:;62:%47%"<D6;<2?%b6K6<:6%01%C;4B0E0D65%7;43%
0<1D0D:D0<=%84:;D%28D04<J
M'/6=&$%(O,(M$%4"#'
QM(U+RTL3(D1O,()K3()TRS
%
%
*B6% C;618;0CD0K6% C6;045% C;4K0565% 74;% 0<% DB6% *2M% !456% 01%
84:<D65%7;43%DB6%52D6%AB6<%DB6%O"b%21161165%DB6%0<8436%D2M%
;6D:;<%47%DB6%D2MC2F6;J%*B6%28D04<%B21%C;618;0E65%07%0D%B25%E66<%
!%?65%U%F62;1%2<5%Z%34<DB1%27D6;%DB6%21161136<DJ%"7%DB6%f4K6;<H
36<D%C;616<D1%<4%6K056<86%DB2D%DB6%D2MC2F6;%;6860K65%2%84CF%47%2%
1:E169:6<D%4;%74??4AH:C%21161136<D%<4D086%;6=2;50<=%DB6%2??6=65%
56!%806<8F%D2M%A0DB0<%DB6%]HF62;%C6;045G%DB6<G%DB6%C;618;0CD0K6%
C6;045%01%566365%D4%B2K6%?2C165J
(
(
-4&$74:(E"420$#3(>2%,(O,(@!
QM(SXUTL3(^42,(X3()TRX
%
%
S<% 28D04<% :C4<% 2<% 4E?0=2D04<% 8;62D65% EF% ?2AG% 1:8B% 21% 2%
C6D0D04<%!%?65%EF%2<%63C?4F66%D4%843C6?%DB6%63C?4F6;%D4%;630D%
B01%...%84<D;0E:D04<1%D4%DB6%...%C;618;0E61%27D6;%/T%F62;1%7;43%
DB6%D036%DB6%;0=BD%47%28D04<%288;:61J
UQ
%
S;DJ%//\Z
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GKH( M6&'0($2(@40'(1;(P"469
>2@% *B6%28D04<%74;%;6?067%4<%DB6%=;4:<5%47%7;2:5%32F%E6%E;4:=BD%
A0DB0<%\%F62;1%7;43%DB6%50184K6;F%47%DB6%7;2:5J!,-#).!/FD/2!
4'5'6!4*7$i!<+7!R$&.!:F_F`2!-&)!/D08J%*B:1G%AB6;6%DB6%C?20<H
D0771%!%?65%2<%28D04<%0<%/Z]Q%D4%2<<:?%2%84<D;28D%47%12?6%4<%
DB6%=;4:<5%DB2D%DB6F%B25%E66<%7;2:5:?6<D?F%0<5:865%D4%10=<%
DB6% 1236% 0<% DB6% E6?067% DB2D% 0D% A21% 2% 34;D=2=6G% 2?DB4:=B%
DB6F% 50184K6;65% DB6% 7;2:5% 0<% /Z\]G% DB6% 1236% 01% E2;;65J%
,C<KOV+7*!5.!-><@6$2!?AG1;/2!P$@.!I32!/D;;8J%S%1:E169:6<D%
28D04<%EF%DB6%1236%C?20<D0771%2=20<1D%DB6%1236%5676<52<D1%
74;%DB6%;684K6;F%47%D0D?6%2<5%C41161104<%47%DB6%;62?%C;4C6;DFG%
1:ER68D% 32DD6;% 47% DB6% 274;636<D04<65% 84<D;28D% 47% 12?6% 01%
?0_6A016%E2;;65J%PB0?6%0D%32F%E6%D;:6%DB2D%DB6%;684K6;F%47%
DB6%D0D?6%2<5%C41161104<%47%DB6%?4D%A6;6%:?D032D6%4ER68D0K61%
47%DB6%C?20<D0771G%1D0??%D4%2DD20<%DB2D%=42?G%DB6F%3:1D%!%;1D%
D;2K6?%4K6;%DB6%;425%47%;6?067%4<%DB6%=;4:<5%47%7;2:5J%,C*+$!
5.!46<#*!<+7!L<YV'#'+e2!D/!"W'6.!I;08.%"<5665G%DB6%C?20<H
D0771%&<++*)!E6%568?2;65%21%1D0??%DB6%4A<6;1%47%DB6%C;4C6;DFG%
6<D0D?65%D4%0D1%C41161104<G%X')W*V)%2<<:??0<=%DB6%84<D;28D%
47%12?6J%.205%84<D;28D%82<<4D%E6%2<<:??65%A0DB4:D%568?2;H
0<=%0D%7;2:5:?6<DG%2<5%2<<:?36<D%4<%DB01%=;4:<5%82<<4D%
E6%54<6%2<F34;6%0<%K06A%47%DB6%C;618;0CD04<J%,C<KOV+7*!
5.!=$!BVdO<+2!?A/0D0I02!=$&.!ID2!/D;D8.
>E@% S<% 28D04<% 74;% ;684<K6F2<86% 47% ?2<5G% 74;% AB08B% 2% C2D6<D%
B25%E66<%011:65%D4%DB6%5676<52<D%EF%;6214<%47%7;2:5:?6<D%
1D2D636<D1G%01%4<6%E2165%4<%7;2:5G%2<5%3:1D%E6%0<1D0D:D65%
A0DB0<%\%F62;1%7;43%DB6%50184K6;F%47%DB6%7;2:5:?6<D%1D2D6H
36<D1% 3256% 0<% DB6% 2CC?082D04<J% ,C*%<#'*! 5.! -V7.! B$+.2!!
?A//3/G2!-(#'6!F02!/D;3i!a$<+!5.!-e#$e<7*2!?AGDI/2!R$().!
I32!/D;;8.
!!
!!"#,())UT,(!&&(1#8'"(4%#$120(7810'(/'"$190(4"'(21#(!(b'9($2(
#8$0(@19'(1"($2(1#8'"(&470(<60#(='(="16:8#(7$#8$2(!(O'(.'4"0(
;"1<(#8'(#$<'(#8'("$:8#(1;(4%#$12(4%%"6'0,
@ABBCDEF
G)H( Q'2'"4&("#$%&'$(f(S(.'4"0
%
%
*B6%S;D08?6%6MC?20<1%0D16?7J
U\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//\Z
E1&'2#$21(O,(@!(429(I4O$9
N?U)UKX3(^62,()*3()TRR
%
%
S??%28D04<1G%:<?611%2<%6M86CD04<%01%C;4K0565G%B2K6%2%C;618;0CH
D0K6%C6;045J%c<?611%DB6%?2A%32_61%2<%28D04<%03C;618;0CD0E?6G%0D%
01%1:ER68D%D4%E2;%EF%C;618;0CD04<%2<5%DB6%C6;045%47%C;618;0CD04<%
01% ]% F62;1% 7;43% DB6% D036% DB6% ;0=BD% 47% 28D04<% 288;:61% AB6<% <4%
4DB6;%C6;045%01%C;618;0E65%EF%?2AJ%*B6%!0K0?%!456%C;4K0561%74;%
1436%;0=BD1%AB08B%2;6%<4D%6MD0<=:01B65%EF%C;618;0CD04<G%E:D%2<%
28D04<%2=20<1D%2%A432<%AB4%B21%E66<%?6=2??F%50K4;865%7;43%B6;%
B:1E2<5G%E;4:=BD%EF%DB6%?2DD6;L1%C;616<D%A076G%166_0<=%D4%6<R40<%
DB6%74;36;%A076%7;43%:10<=%DB6%1:;<236%47%B6;%74;36;%B:1E2<5G%
01%<4D%4<6%47%DB63J%-60DB6;%01%DB6;6%2%1C6802?%?2A%C;4K050<=%74;%
03C;618;0CD0E0?0DFJ
%
%
*B6%36;6%728D%DB2D%DB6%1:CC4165%K04?2D04<%47%DB6%C6D0D04<6;L1%
;0=BD% 32F% E6% 2% 84<D0<:4:1% 4<6% 5461% <4D% 8B2<=6% DB6% C;0<80C?6%
DB2D%DB6%3436<D%DB6%E;628B%47%;0=BD%4;%5:DF%488:;1G%DB6%;0=BD%47%
28D04<%288;:61%2<5%DB6%28D04<%7;43%DB2D%3436<D%82<%E6%?6=2??F%
0<1D0D:D65J%"D%01%DB6%?6=2?%C4110E0?0DF%47%E;0<=0<=%DB6%28D04<%AB08B%
56D6;30<61%DB6%1D2;D0<=%C40<D%74;%DB6%843C:D2D04<%47%DB6%C6;045%
47%C;618;0CD04<J%*B6%C6D0D04<6;%1B4:?5%B2K6%E;4:=BD%?6=2?%28D04<%
0336502D6?F% 2=20<1D% DB6% C;0K2D6% ;61C4<56<D% 27D6;% 1B6% =20<65%
_<4A?65=6%47%DB6%:16%EF%DB6%C;0K2D6%;61C4<56<D%47%DB6%1:;<236%
47%B6;%74;36;%B:1E2<5J
GKH( Cb4</&'0
>2@% S8D04<%D4%03C:=<%DB6%;684=<0D04<%47%2%<2D:;2?%8B0?5J%,-#).!
ID12!4'5'6!4*7$8.
>E@% S8D04<%D4%03C:=<%DB6%?6=0D032D04<%47%2%8B0?5J%,-#).!IG;2!4'5'6!
4*7$8.
>8@%
S8D04<%D4%;65:86%0<47!%804:1%54<2D04<1%>D4%E6%84:<D65%7;43%
DB6%562DB%47%DB6%54<4;@J%,R$$!-#).!GGI2!4'5'6!4*7$8.
%
!
_9HQNS%!21D2<%E6?06K61G%B4A6K6;G%DB2D%DB6%C6;045%74;%
DB01%01%\%F62;1G%+*)!;!K$<#%2%2CC?F0<=%DB6%;:?6%74;%#$%&'%%'A
@6$%84<D;28D1%:<56;%S;DJ%/QYZ%47%DB6%!0K0?%!456J%,:!4<%)<+!
/D:8.`
GLH( ]6'".(GM'(e4&$9$#.(1;([#$/6&4#$12(@12%'"2$2:(J'"$19H
%
%
`2F%DB6%C2;D061%1D0C:?2D6%AB6<%28D04<%74;%84:;D%6<74;8636<D%
32F%E6%E;4:=BDd
U]
%
S;DJ%//]T
%
!
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
-9R.S!e61G%:<?611%DB6%1D0C:?2D04<I
>2@% 84<D;2K6<61%2%K2?05%1D2D:D6W
>E@% 4;%DB6%D036%!%M65%01%:<;6214<2E?F%1B4;DJ
%
%
j*B:1G% DB6% .:C;636% !4:;DG% 0<% "<*! 5.! C$O*#*%<!!
,?A/0IDI2!P$@.!I32!/D;38%B6?5%DB2D%2<%2=;6636<D%AB6;6EF%
DB6%8?203%2=20<1D%DB6%1:;6DF%3:1D%E6%!%?65%A0DB0<%DB0;DF%
52F1G%4DB6;A016G%84:;D%28D04<%01%A20K65G%01%:<;6214<2E?6%2<5%
01%2<%0<K2?05%?030D2D04<%47%28D04<J%,R$$!H+e%'<M*!5.!f*#67!
f'7$!]+%V#<+&$!4*.2!?A/I0GG2!aV+$!IG2!/D;38Jk
(
!"#,())S*,(E8'(#$<'(;1"(/"'0%"$/#$12(;1"(4&&(\$290(1;(4%#$1203(
78'2(#8'"'($0(21(0/'%$4&(/"1O$0$12(78$%8(1"94$20(1#8'"7$0'3(
084&&(='(%162#'9(;"1<(#8'(94.(#8'.(<4.(='(="16:8#,
@ABBCDEF
G)H( P"1<(`84#(E$<'(J'"$19(>0(#1(-'(@162#'9
%
%
-4D6%DB2D%DB6%C6;045%1B2??%E6%84:<D65%7;43%)W$!7<K!)W$!<&A
)'*+!O<K!@$!@#*VeW)2!$J&$()%07%DB6;6%01%2%1C6802?%C;4K0104<%DB2D%
4;520<1%4DB6;A016J
GKH( M'4012(;1"(#8'(N47
(
%
&<6%82<<4D%E6%1205%D4%E6=0<%1?66C0<=%4<%B01%;0=BD1G%07%1:8B%
;0=BD1%B2K6%<4D%F6D%288;:65J%*B:1G%DB6%1D2;D0<=%C40<D%01%DB6%6$e<6!
(*%%'@'6')K.!,QR2!E<K!32!/D0F8.
GLH( Cb4</&'0
>2@% "<% 2<% 28D04<% E2165% 4<% 2% YV<%'A7$6'&)% E682:16% 47% 2% D;27!%8%
84??0104<%h%7;43%DB6%52F%47%DB6%84??0104<J%,"<V6<+2!$)!<6.!5.!
R<#<@'<2!$)!<6.2!?A/0;:I2!aV6.!F2!/D;38.
>E@% "<%2%C;430114;F%<4D6%A0DB%2%32D:;0DF%52D6G%7;43%DB6%52D6%
47%1:8B%32D:;0DFJ%,R$$!j<#$6<!5.!E<#<U<%2!$)!<6.2!?A/0I/;2!
-(#.!F02!/D;38.
>8@%
"<%2%84??68D04<%74;%DB6%:<C205%E2?2<86%47%1:E18;0E65%84;C4;2H
D04<%1B2;61G%7;43%DB6%52D6%47%5632<5%4;%82??%EF%DB6%O42;5%
47%'0;68D4;1J%,B<#&'<!5.!RV<#$d2!1G!"W'6.!::/8.
UU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//]T
>5@% "<%2<%28D04<%D4%843C6?%DB6%;6=01D;2D04<%47%2<%2110=<65%363H
E6;1B0C%86;D0!%82D6%0<%2%<4<H1D48_%84;C4;2D04<G%DB6%C6;045%
;:<1%+*)%7;43%DB6%52D6%47%2110=<36<DG%E:D%7;43%DB6%52D6%
47%7$+'<6!47%;6=01D;2D04<J%C$<%*+S!*B6%$J'%)$+&$!47%2%;0=BD%
01%4<6%DB0<=W%;0=BD%D4%B2K6%01%2<4DB6;J%"D%A21%4<?F%7;43%DB6%
D036%47%7$+'<6!47%;6=01D;2D04<%DB2D%DB6%82:16%47%28D04<%28H
8;:65J%,?$$!N.!f*+!5.!f<&M!f<&M!B*6>!<+7!4*V+)#K!46V@2!
?A/0/II2!-Ve.!F02!/D;38.
>6@% "<%2<%28D04<%D4%;684K6;%C2F36<D%47%DB6%50776;6<86%E6DA66<%
DB6%A2=61%C205%2<%63C?4F66%2<5%DB2D%!%M65%EF%DB6%`0<03:<%
P2=6% $2AG% $5$#K! 34<DB?F% C2F36<D% 47% 12?2;061% 3256% EF%
5676<52<D% 63C?4F6;% =0K61% DB6% 63C?4F66% 2% %$(<#<)$% <+7!
'+7$($+7$+)!82:16%47%28D04<%D4%;684K6;%DB6%:<56;C2F36<DW%
B6<86G%DB6%C6;045%C;4K0565%74;%EF%?2A%01%D4%E6%84:<D65%7;43%
DB6%52D6%47%628B%2<5%6K6;F%34<DB?F%C2F36<DJ%,-@#<%<67*2!
$)!<6.!5.!4*O(<+'<!E<#')'O<2!?A//D/32!aV6.!F/2!/D;38.
GUH( [1<'(@40'0
(
(
N$%846%1(O,([1"$421
LS(J8$&,(K*L
(
!
P-4QRS%S%C;43016%D4%C2F%A0DB0<%4<6%F62;%A21%3256J%SD%
DB6%4CD04<%47%DB6%8;650D4;G%DB6%C6;045%84:?5%E6%6MD6<565%74;%4<6%
F62;J%*B6%56ED4;%720?65%D4%C2FG%2<5%DB6%8;650D4;%720?65%D4%5632<5J%
]%%V$S!);43%AB2D%D036%A0??%DB6%C;618;0CD0K6%C6;045%;:<d
%
!
TN?=S!`6;6%56?2F%EF%DB6%56ED4;1%2<5%720?:;6%D4%5632<5%
EF%DB6%8;650D4;%5461%<4D%362<%DB2D%DB6%6MD6<104<%47%4<6%F62;%B25%
E66<%=;2<D65J%*B6;674;6G%10<86%DB6%56ED%E68236%5:6%2D%DB6%6<5%
47%DB6%4;0=0<2?%F62;G%DB6%C;618;0CD0K6%C6;045%1B4:?5%84336<86%
7;43%1205%6<5%47%DB6%!%;1D%F62;J
(
(
e4"'&4(O,(B4"4_403('#(4&,
N?)TK)S3(!/",(L*3()TSR
(
!
P-4QRS!*B6%B60;1%47%2%56862165%C6;14<%16DD?65%DB6%61D2D6%
0<%2%A;0DD6<%2=;6636<D%52D65%)6EJ%/\G%/Z\/G%C;4K050<=%DB2D%4<6%
47% DB63% A4:?5% C2F% 2<% <@%$+)% B60;G% :C4<% DB6% ;62CC62;2<86% 47%
DB6% ?2DD6;J% .205% 2E16<D% B60;% ;6D:;<65% D4% DB6% ,B0?0CC0<61% 7;43%
DB6%c<0D65%.D2D61%0<%-4K63E6;G%/Z\]J%+6%0336502D6?F%21_65%
Ua
%
S;DJ%//]T
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
74;%B01%1B2;6G%E:D%A21%+*)!C205J%+6%DB6<%!%?65%DB6%843C?20<D%74;%
C2F36<D%47%B01%1B2;6%4<%'68J%UG%/Z]\J%]%%V$S!);43%AB2D%D036%
1B4:?5%DB6%C;618;0CD0K6%C6;045%E6%84:<D65d
%
!
TN?=S! *B6% C;618;0CD0K6% C6;045% 1B4:?5% E6% 84:<D65% 7;43%
-4K63E6;G%/Z\]G%AB6<%B6%C;616<D65%B0316?7%74;%C2F36<D%E:D%
A21% <4D% C205J% +6<86G% DB6% 28D04<% B21% <4D% F6D% C;618;0E65J% "D% 01%
:<720;%D4%E6=0<%843C:D0<=%7;43%/Z\/%AB6<%DB6%2=;6636<D%A21%
3256J%*B01%01%14G%E682:16%DB6%2=;6636<D%C;4K0565%74;%C2F36<D%
:C4<%B01%2CC62;2<86G%2<5%<4%C6;045%A21%!%M65%74;%1205%C:;C4161J%
*B6%10D:2D04<%01%1030?2;%D4%DB2D%47%2%56ED%6K056<865%EF%2%A;0DD6<%
548:36<D%C2F2E?6%A0DB0<%2%1D2D65%C6;045G%AB6;6%DB6%82:16%47%
28D04<%A4:?5%288;:6%4<?F%:C4<%DB6%6MC0;2D04<%47%DB6%1D0C:?2D65%
C6;045%0<%8216%C2F36<D%01%<4D%3256%h%86;D20<?FG%<4D%7;43%DB6%
52D6%47%DB6%2=;6636<DJ
(
(
(
>2#'0#4#'(C0#4#'(1;(P"42%$0%1(d=4#3('#(4&,(O,
!#4240$4(d=4#(9'(B12#'03(JD-3('#(4&,
N?))+LL3(^42,(L)3()T+)
(
!
P-4QRS%(5:2;54%cE2D%E4;;4A65%,\UT%7;43%DB6%,B0?0CC0<6%
-2D04<2?% O2<_% 0<% /ZQUG% C2F2E?6% V4<% 4;% E674;6% DB6% aDB% 52F% 47%
&8D4E6;G%/Z\UJX%*B6%84<D;28D%7:;DB6;%C;4K0565%DB2D%DB6%C2F36<D%
k%W<66! E6% 3256m% 0<% /T% 69:2?% F62;?F% 0<1D2??36<D1J% .:0D% 74;% DB6%
AB4?6%234:<D%A21%E;4:=BD%0<%/Z]\%10<86%<4D%2%10<=?6%0<1D2??H
36<D%B25%E66<%C205J%]%%V$S!+21%DB6%56ED%C;618;0E65d
%
!
TN?=S%c<56;%S;DJ%//]T%47%DB6%<6A%!0K0?%!456G%DB6%C;618;0CH
D0K6%C6;045%1D2;D1%7;43%DB6%D036%8;650D4;%32F%!%?6%2<%28D04<G%+*)%
7;43%DB6%D036%B6%A01B61%D4%54%14J%*B6%C2F36<D%47%F62;?F%0<1D2??H
36<D1%A21%32<52D4;F%E682:16%47%DB6%CB;216%V1B2??%E6%3256JX%
*B6;674;6G%DB6%C;618;0CD0K6%C6;045%74;%(S!+%0<1D2??36<D%1B4:?5%
1D2;D% 7;43% DB6% D036% 0D% E68236% 5:6J% +4A6K6;G% 84<1056;0<=% DB6%
%V%($+%'5$!$>>$&)%47%DB6%`4;2D4;0:3%$2AG%4<?F%DB6%!%;1D%!%K6%0<H
1D2??36<D1%B2K6%C;618;0E65J%*B6%4DB6;1%32F%1D0??%E6%;684K6;65J
(
(
@40#"$&&1(O,(@16"#
N?)R*U+3(B4",(L)3()T+U
%
%
*B6%C;618;0CD0K6%C6;045%A0DB0<%AB08B%D4%21_%74;%2%568?2;2H
D04<%47%84H4A<6;1B0C%0<%2%C2;86?%47%?2<5%84K6;65%EF%2%*4;;6<1%
UY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;D1J%//]/H//]N
*0D?6%E6=0<1%7;43%DB6%3436<D%2%D;2<176;%86;D0!%82D6%01%011:65%0<%
DB6%<236%47%DB6%+$X!*X+$#%.
(
(
M'/6=&$%(O,(a12,(D6<'"$421(C0#'2V1
N?KU+S+3(['/#,(KS3()T+R
(
!
]RR^NS%*4%B2K6%2%R:5=36<D%4<%843C;43016%16D%21056G%7;43%
AB2D%3436<D%1B4:?5%C;618;0CD04<%E6%84:<D65d
%
!
TN?=S!OF%0D1%K6;F%<2D:;6G%2%R:5=36<D%E2165%4<%843C;4H
3016%01%=6<6;2??F%!%<2?%2<5%0336502D6?F%6M68:D4;FJ%,N+#'YV$!5.!
"<7'66<2!GG!"W'6.!FGFi!L<7'*+e<+!5.!4$+'d<2!$)!<6.2!/0I!"W'6.!G;08.!
)4;%DB01%;6214<G%C;618;0CD04<%E6=0<1%>4;%D4??1@%+*)!7;43%DB6%52D6%47%
0D1%6<D;FG%E:D%7;43%DB6%52D6%47%0D1%;6<50D04<J%,='#'e$!5.!L'#<+K<2!
?AII0FF2!aV6.!F02!/D118.
(
!"#,())S),(E8'(#$<'(;1"(#8'(/"'0%"$/#$12(1;(4%#$120(78$%8(
84O'( ;1"( #8'$"( 1=_'%#( #8'( '2;1"%'<'2#( 1;( 1=&$:4#$120( #1( /4.(
/"$2%$/4&(7$#8($2#'"'0#(1"(4226$#.("620(;"1<(#8'(&40#(/4.<'2#(
1;(#8'(4226$#.(1"(1;(#8'($2#'"'0#,
@ABBCDEF
(
A=&$:4#$120(#1(J4.(J"$2%$/4&(`$#8(>2#'"'0#(1"(!226$#.
(
!
NJ<O(6$S%"7%2%32D:;65%56ED%01%;684=<0[65%?2D6;%EF%DB6%C2FH
36<D%47%0<D6;61DG%DB6%C;618;0CD0K6%C6;045%E6=0<1G%<4D%7;43%DB6%
52D6% 47% 32D:;0DFG% E:D% 7;43% DB6% ?21D% C2F36<D% 47% 1205% 0<D6;61DJ%
,R$$!H@#<%!"'<%!5.!=$5$#<!]e+<&'*2!/G!"W'6.!:;8.
(
!"#,( ))SK,( E8'( /'"$19( ;1"( /"'0%"$/#$12( 1;( 4%#$120( #1( 9'?
<429(#8'(;6&!(&&<'2#(1;(1=&$:4#$120(9'%&4"'9(=.(4(_69:<'2#(
%1<<'2%'0(;"1<(#8'(#$<'(#8'(_69:<'2#(='%4<'(!(24&,
@ABBCDEF
(
A=&$:4#$120(I'%&4"'9(=.(4(^69:<'2#
(
%
*B6%S;D08?6%6MC?20<1%0D16?7J
UZ
%
S;DJ%//]N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
(
(
N6V12([6"'#.(@1,(O,(>!@
QM(XK+US3(^62,(L*3()TRX
%
%
"D%01%<4A%16DD?65%DB2D%DB6%D6<HF62;%C6;045%A0DB0<%AB08B%2<%
28D04<%74;%;6K0K2?%47%2%R:5=36<D%1B4:?5%E6%E;4:=BDG%84336<861%
D4%;:<%7;43%DB6%52D6%47%!%<2?0DF%47%DB6%R:5=36<DG%2<5%<4D%7;43%
DB6%6MC0;2D04<%47%DB6%!%K6HF62;%C6;045%A0DB0<%AB08B%DB6%R:5=36<D%
32F%E6%6<74;865%EF%36;6%34D04<J
%
%
%
%
>/@% .68J%\\a%47%DB6%!456%47%!0K0?%,;4865:;6%>AB08B%01%1030H
?2;%D4%DB6%?21D%16<D6<86%47%.68J%UG%b:?6%QZ%47%DB6%b6K0165%b:?61%
47%!4:;D@%1B4:?5%E6%84<1D;:65%0<%;6?2D04<%D4%.68J%\QG%-4J%/%47%DB6%
1205%!456%>AB08B%01%1030?2;%D4%S;DJ%//\\%47%DB6%!0K0?%!456@W%2<5%
21%DB:1%84<1D;:65G%DB6%84<8?:104<%4<6%2;;0K61%2D%01%DB2D%27D6;%DB6%
6MC0;2D04<%47%DB6%!%K6%F62;1%A0DB0<%AB08B%6M68:D04<%82<%E6%011:65%
:C4<%2%R:5=36<DG%DB6%A0<<0<=%C2;DF%82<%;6K0K6%0D%4<?F%0<%DB6%
32<<6;%DB6;60<%C;4K0565%14%?4<=%21%DB6%C6;045%47%D6<%F62;1%5461%
<4D%6MC0;6%7;43%DB6%52D6%47%1205%R:5=36<DG%2884;50<=%D4%.68J%\QG%
-4J%/%47%DB6%1236%!456J
%
%
>N@% *B6%;0=BD%47%DB6%A0<<0<=%C2;DF%D4%6<74;86%DB6%R:5=H
36<D%2=20<1D%DB6%56762D65%C2;DF%VE6=0<1%D4%6M01D%DB6%3436<D%
DB6%R:5=36<D%01%!%<2?W%2<5%DB01%;0=BDG%2884;50<=%D4%4:;%!456%47%
!0K0?%,;4865:;6G%84<101D1%0<%B2K0<=%2<%6M68:D04<%47%DB6%R:5=36<D%
011:65% 5:;0<=% DB6% !%;1D% !%K6% F62;1% <6MD% 74??4A0<=G% 2<5% 0<% 843H
36<80<=%27D6;%DB2D%C6;045%DB6%C;486650<=%C;4K0565%0<%.68J%\\a%
D4%;6K0K6%0DG%2<5%DB01%?2DD6;%;6365F%82<%E6%C:;1:65%4<?F%E674;6%
DB6%R:5=36<D%C;618;0E61G%DB2D%01%D4%12FG%5:;0<=%DB6%!%K6%F62;1%
<6MD%74??4A0<=J%"D%01%14%3:8B%2<%28D04<%D4%21_%74;%2<%6M68:D04<%
21%0D%01%D4%!%?6%2%843C?20<D%74;%;6K0K0<=%0DG%E682:16G%21%A6%_<4AG%
EF%28D04<%01%362<D%DB6%?6=2?%5632<5%47%DB6%;0=BD%4;%;0=BD1%4<6%
32F%B2K6JLL
%
%
>Q@% "7%0D%01%B6?5%DB2D%DB6%A0<<0<=%C2;DF%B21%1D0??%D6<%>/T@%
F62;1%A0DB0<%AB08B%D4%;6K0K6%DB6%R:5=36<D%27D6;%DB6%6MC0;2D04<%
47%!%K6%F62;1G%DB6<%DB6%R:5=36<D%A4:?5%<4D%C;618;0E6%:<D0?%27D6;%
!%7D66<%>/]@%F62;1G%AB08B%01%2=20<1D%-4J%/%47%.68J%\Q%47%DB6%!456%
47%!0K0?%,;4865:;6J%"D%82<<4D%E6%1205%DB2D%1:8B%01%DB6%?6DD6;G%2<5%
3:8B%?611G%DB6%0<D6<D04<%47%DB6%?2AG%74;%DB6;6%01%<4DB0<=%0<%.68J%
\\a%47%DB6%1205%!456G%32_0<=%DB01%<6A%C6;045%50776;6<D%7;43%DB6%
4<6%C;618;0E65%0<%1205%.68J%\QG%-4J%/G%4;%;684<80?0<=%DB616%DA4%
*B;66%>Q@%;6214<1%A6;6%25K2<865G%D4%A0DI
aT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;D1J%//]QH//]\
C;4K0104<1G%DB6;6%E60<=%<4%4DB6;%A2F%47%;684<80?0<=%DB63%DB2<%D4%
12F%DB2D%27D6;%DB6%6MC0;2D04<%47%DB6%!%;1D%!%K6%F62;1%<6MD%74??4A0<=%
DB6%R:5=36<DG%DB6;6%;6320<1%D4%DB6%K08D4;04:1%C2;DF%4<?F%2<4DB6;%
!%K6%F62;1%D4%;6K06A%0DJ
(
!"#,())SL,(E8'(/'"$19(;1"(/"'0%"$/#$12(1;(4%#$12(#1(9'<429(
4%%162#$2:("620(;"1<(#8'(94.(#8'(/'"0120(781(0816&9("'29'"(
#8'(04<'(%'40'($2(#8'$"(;62%#$120,
(
E8'(/'"$19(;1"(#8'(4%#$12(4"$0$2:(;"1<(#8'("'06&#(1;(#8'(4%?
%162#$2:("620(;"1<(#8'(94#'(78'2(04$9("'06&#(740("'%1:2$V'9(
=.(4:"''<'2#(1;(#8'($2#'"'0#'9(/4"#$'0,
@ABBCDEF
G)H( !%#$120(#1(I'<429(!%%162#$2:(429(!%#$120(!"$0$2:(;"1<(
M'06&#(1;(#8'(!%%162#$2:
(
%
*B6%!%;1D%C2;2=;2CB%562?1%A0DB%DB6%7$O<+7!>*#!<&&*V+)'+e2%
DB6%1684<5%562?1%A0DB%DB6%#$%V6)!*>!)W$!<&&*V+)'+eJ
GKH( !%%162#$2:(429(M'&$56$94#$12
(
%
*B6;6% 01% -&% 50776;6<86G% B4A6K6;G% E6DA66<% 2<% 28D04<% 74;%
S!!&c-*"-f%2<5%4<6%74;%b($"mc"'S*"&-G%E4DB%47%AB08B%
0<K4?K6%DB6%56D6;30<2D04<%2<5%16DD?636<D%47%AB2D%01%5:6%DB6%C2;H
D061%:<56;%DB6%C;4K0104<1%47%DB6%?2AJ%,E<)$*!5.!=V#<+2!?A/:F/:2!
P$@.! II2! /D1/! <+7! [V%<K! 5.! -6$U<7*2! ?A/:33/! <+7! ?A/;00/AG2!
-(#.!F02!/D108.
(
!"#,())SU,(E8'(/'"$19(96"$2:(78$%8(#8'(1=&$:''(740(/"'?
O'2#'9(=.(4(;1"#6$#160('O'2#(;"1<('2;1"%$2:(8$0("$:8#($0(21#(
"'%\12'9(4:4$20#(8$<,
@ABBCDEF
(
C;;'%#(1;(4(P1"#6$#160(CO'2#
(
%
*B6%S;D08?6%6MC?20<1%0D16?7J%S7D6;%2??G%74;D:0D4:1%6K6<D1%2;6%
=6<6;2??F%6M63CDJ
a/
%
S;DJ%//]]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
(
!"#,( ))SS,( E8'( /"'0%"$/#$12( 1;( 4%#$120( $0( $2#'""6/#'9(
78'2(#8'.(4"'(!(&'9(=';1"'(#8'(%16"#3(78'2(#8'"'($0(4(7"$##'2(
'b#"4_69$%$4&(9'<429(=.(#8'(%"'9$#1"03(429(78'2(#8'"'($0(42.(
7"$##'2(4%\217&'9:<'2#(1;(#8'(9'=#(=.(#8'(9'=#1",
@ABBCDEF
G)H( A&9(N47(M'(>2#'""6/#$12(1;(J"'0%"$/#$O'(J'"$190
%
%
c<56;%DB6%4?5%?2AG%AB0?6%0D%01%D;:6%DB2D%DB6%C;618;0CD04<%
47%28D04<1%01%0<D6;;:CD65%AB6<%DB6F%2;6%!%?65%E674;6%DB6%84:;DG%
1D0??G%07%DB6%8216%01%501301165%A0DB4:D%2<F%:<72K4;2E?6%R:5=36<D%
2=20<1D%DB6%5676<52<D1G%6K6<%07%A0DB4:D%C;6R:5086%D4%2<4DB6;%28H
D04<G%DB6%1236%5461%+*)%84<1D0D:D6%2<%0<D6;;:CD04<%47%DB6%C6;045%
47%C;618;0CD04<%74;%DB6%C2;D061%2;6%0<%6M28D?F%DB6%1236%C410D04<J%
,H+e%'<M*!5.!H+e%'<M*2!?AG;/02!E<#.!F02!/D;G8.%*B01%548D;0<6%A21%
;60D6;2D65%0<%-O<#!5.!H7'<+<+2%?A/;/GD2!R$().!F02!/D10.%`4;64H
K6;G%2884;50<=%D4%DB6%!4:;DG%S8D%/ZT%84<D20<1%-&%C;4K0104<1%4<%
DB6%0<D6;;:CD04<%4;%1:1C6<104<%47%DB6%C6;045%47%C;618;0CD04<%EF%
DB6%36;6%0<1D0D:D04<%47%2<%28D04<J
GKH( `8'2(J"'0%"$/#$12(1;(!%#$120(>0(>2#'""6/#'9(d29'"(#8'(
@$O$&(@19'
>2@% !!6$7%E674;6%DB6%84:;D%>R:50802?%5632<5@%>DB01%01%D;:6%6K6<%
07%DB6;6%A6;6%+*!%VOO*+%!011:65%2<5%6K6<%07%DB6;6%E6%<4%
R:5=36<D@J%,E<+#$%<8.%>9HQN%DB2D%DB01%S;D08?6%3:1D%<4D%E6%
84<7:165%A0DB%S;DJ%//N\@J%.205%?2DD6;%S;D08?6%5461%+*)!2CC?F%
B6;6%0<%S;DJ%//]]J%j-&*(I%"7%2%843C?20<D%01%<O$+7$72%A0DB%
DB6%03C?6250<=%47%2<%<77')'*+<6!5676<52<DG%C;618;0CD04<%01%
0<D6;;:CD65%21%D4%1:8B%2550D04<2?%5676<52<D%4<?F%>#*O!)W$!
)'O$!*>!)W$!<7O'%%'*+!*>!)W$!<O$+7$7!&*O(6<'+)2!<4D%7;43%
DB6% !%?0<=% 47% DB6% 4;0=0<2?% 843C?20<DJ% ,-$)+<! ]+%V#<+&$! 5.!
L<#@$#!R)$<O%W'(!?'+$%2!]+&.2!?AI;I112!a<+.!/;2!/DG;8Jk
>E@% X#'))$+%6MD;2R:50802?%5632<5J
>8@%
X#'))$+%28_<4A?65=36<D%EF%DB6%56ED4;%47%B01%56EDJ
GLH( M'56$"'<'2#(1;(`"$##'2(I'<429(1"(!%\217&'9:<'2#
(
%
-4D6%DB6%;69:0;636<D%47%2%Pb"**(-%6MD;2R:50802?%5632<5%
4;% 28_<4A?65=36<DJ% *B:1G% 2% A;0DD6<% 4776;% 47% C2F36<D% A4;_1%
21%2%;6<6A2?%47%DB6%4E?0=2D04<%2<5%C;6K6<D1%C;618;0CD04<%7;43%
aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//]]
16DD0<=%0<J%,"W'6.!9<)'*+<6!L<+M!5.!T'(*6')*2!?A/1:1F2!a<+.!F02!
/D1;8.%*B:1%2?14G%2<%*#<6!4;%5$#@<6%28_<4A?65=36<D%B21%E66<%
B6?5%0<1:7!%806<D%D4%0<D6;;:CD%4;%1:1C6<5%DB6%;:<<0<=%47%DB6%C;6H
18;0CD0K6%C6;045J%$0_6%DB6%.D2D:D6%47%);2:51G%DB6%C?20<%C:;C416%
47%DB6%?2A%01%D4%2K405%:<86;D20<DF%0<%DB6%56D6;30<2D04<%47%DB6%
C6;0451%47%?030D2D04<G%2<5%<4D%?62K6%1:8B%56D6;30<2D04<%4<%DB6%
72??28061%47%B:32<%3634;FJ%*B01%A21%2?14%DB6%;:?6%:<56;%DB6%
4?5%;:?6J%,R$&.!;0!*>!-&)!/D08.
%
%
"D%A4:?5%E6%50776;6<DG%B4A6K6;G%07%1:8B%4;2?%28_<4A?65=36<D%
211:361%2%<6A%4E?0=2D04<G%2<5%01%<4D%36;6?F%2%C;43016%D4%C2F%2<%
4?5%56ED%2D%2%7:D:;6%D036J%,L*##*O$*!5.!l<@<66$#*2!?A/:F;G2!-Ve.!
F/2!/D108.%P;0DD6<%6MD;2R:50802?%5632<51%3256%S)*(b%2<%28D04<%
B21%C;618;0E65%54%-&*%47%84:;16%;6K0K6%DB6%28D04<J%,L$6O<+!4*.2!
]+&.!5.!4$+)#<6!L<+M2!?A/;0::2!E<K!F02!/D108.
GUH( B1"4#1"$6<(N47([60/'29'9(M$:8#(#1([6'
(
%
*B6% `4;2D4;0:3% $2A% 1:1C6<565% DB6% 8;650D4;L1% ;0=BD% D4%
1:6G%2<5%74;%C:;C4161%47%C;618;0CD04<G%DB6%D036%0D%A21%0<%74;86%
3:1D%E6%6M8?:565%7;43%DB6%843C:D2D04<J%,E<e7$6$+<2!$)!<6.!5.!
L$+$7'&)*2!?AD/0;2!P$@.!I32!/D;3i!Q<6$+%2!$)!<6.!5.!4WV<M<K!b!
4*.2!BC!?A/0/IG2!aV+.!F02!/D;3i!C'*!b!4*.!5.!=<)V!a*6M'(6'2!BC!
?A/IF0/2!-(#.!/F2!/D;Di!?$5K!T$#O<+*%!5.!"$#$d2!BC!?A/::3G2!
-(#'6! ID2! /D108.! Oc*% DB6% `4;2D4;0:3% $2A% 5461% <4D% 2CC?F% D4%
C;6HA2;% 56ED1J% ,9'$6%$+! b! 4*.2! ]+&.! 5.! ?$(<+)*2! ?AI/11/2! =$&.!
I32!/D138.
GSH( C;;'%#(1;(J"'0$9'2#(A0<'k4Z0(B1"4#1"$6<(A"9'"(GCb'%,(
A"9'"(LKH3(429(#8'(B1"4#1"$6<(N47(GM'/,(!%#(LUKH3(6/12(
#8'([#4#6#'(1;(N$<$#4#$120(;1"(I'=#0(@12#"4%#'9(-';1"'(
I'%,(L)3()TU)
>2@% "7%DB6%56ED4;%A21%2%PSb%'S`Sf(%8?2032<DG%DB6%C6;045%47%
C;618;0CD04<%A21%1:1C6<565%7;43!E<#.!/02!/D:;!,NJ.!H#7$#!
9*.!FI8!)*!E<K!/32!/D;F%>AB6<%DB6%5680104<%0<%CV))$#!5.!
N%)$@<+2!:D!H.B.!/30G2!B4?50<=%V+&*+%)')V)'*+<6!DB6%>V#)W$#!
4C6;2D04<%47%b6CJ%S8D%Q\N%E68236%*($#<)'5$@J%j-4D6%DB2D%0<%
1205!CV))$#!&<%$G%DB6%`4;2D4;0:3%$2A%A21%<4D%568?2;65%K405%
<@!'+')'*W%DB6%!4:;D%4<?F%B6?5%DB2D%0D1%84<D0<:65%4C6;2D04<%
2<5% 6<74;8636<D% B25% 2?;625F% E68436% :<;6214<2E?6% 2<5%
4CC;6110K6J%.205%?2A%DB6;674;6%1:1C6<565%DB6%.D2D:D6%47%
aQ
%
S;DJ%//]]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
$030D2D04<1G% 2<5% <4% 28D04<% 74;% 84??68D04<% 84:?5% E6% 320<H
D20<65%5:;0<=%DB6%C6;045%AB6<%0D%A21%1D0??%0<%67768DJ%,j7<.!
7$!hV'<O@<*!5.!E<+'6<!E*)*#!4*.2!]+&.2!?A/GF3:2!a<+.!F02!
/D1I8Jk%PB6DB6;%4;%<4D%DB6%8;650D4;%28D:2??F%E;4:=BD%B01%
1:0D%@$>*#$!*#!<>)$#%DB6%CV))$#!5680104<G%DB6%C6;045%74;%DB6%
6<74;8636<D%47%DB6%8;650D%A21%D4??65%4;%1:1C6<565J%,]@'7.8.!
*B6%C;61:3CD04<%01%DB2D%DB6%8;650D4;%A21%2%A2;%5232=6%
8?2032<DJ%,C'*!K!4*O(<+'<!5.!4*V#)!*>!-(($<6%2!?A/;1112!
aV+.!F02!/D1I8.
>E@% "7%DB6%56ED4;%A21%-&*%2%A2;%5232=6%8?2032<DG%DB6%C6;045%47%
C;618;0CD04<%A21%1:1C6<565%7;43!E<#.!/02!/D:;!,NJ.!H#7$#!
FI8!)*!aV6.!I12!/D:3!jAB6<%DB6%`4;2D4;0:3%$2AG%b6CJ%S8D%
Q\NG%E68236%67768D0K6kJ%,C'*!b!4*.!5.!=<)V!a*6M'(6'2!BC!?A
/IF0/2!-(#.!/F2!/D;Di!%$$!T*+eM*+e!b!RW<+eW<'!L<+M'+e!
4*#(.!5.!"<V6'2!?A/;G/F2!E<#.!F/2!/D1I8.
G+H( @&106"'(1;(@16"#0(I6"$2:(#8'(^4/42'0'(A%%6/4#$12
(
%
^:50802?%<4D086%32F%E6%D2_6<%47%DB6%728D%DB2D%DB6%;6=:?2;%
84:;D1%A6;6%8?4165%4;%862165%D4%7:<8D04<%A0DB%DB6%4K6;;:<<0<=%47%
$:[4<%EF%DB6%^2C2<616%74;861%0<%'68J%/Z\/J%*B6F%505%<4D%;64C6<%
:<D0?% ^2<J% QTG% /Z\NJ% *B01% 0<D6;;:CD04<% 0<% DB6% 7:<8D04<1% 47% DB6%
84:;D1%<2D:;2??F%1:1C6<565%2?14%DB6%;:<<0<=%47%DB6%C;618;0CD0K6%
C6;045J%,Q<6$+%2!$)!<6.!5.!4WV<M<K!<+7!4*.2!BC!?A/0/IG2!aV+.!F02!
/D;38.
GXH( !%#$120(d29'"(#8'(@4""$4:'(1;(Q1190(=.(['4(!%#
(
%
*B6%0<D6;;:CD04<%EF%2%A;0DD6<%6MD;2R:50802?%5632<5%5461%
<4D%2CC?F%D4%28D04<1%:<56;%DB6%!2;;02=6%47%f4451%EF%.62%S8DG%
AB08B%3:1D%E6%!%?65%A0DB0<%4<6%F62;%7;43%;6860CD%47%DB6%82;=4J%
*B6%;6214<%01%DB2D%32DD6;1%27768D0<=%D;2<1C4;D2D04<%47%=4451%EF%
162%1B4:?5%E6%5680565%0<%21%1B4;D%2%D036%21%C4110E?6J%*4%2CC?F%
DB6% !0K0?% !456% C;4K0104<% A4:?5% C6;30D% 56?2F1J% ,[$M! Q*+e! ?'+!
P'#$!]+%.!4*.!5.!-O$#'&<+!"#$%'7$+)!?'+$%2!]+&.2!?A//03/2!-(#.!
F02!/D;38.
(
(
I1&'(J8$&0,3(>2%,(O,(B4"$#$<'(@1,(1;(#8'(J8$&0,
QM(+)LSK3(P'=,(KX3()TRX
%
%
"<%2%8216%=4K6;<65%EF%DB6%!2;;02=6%47%f4451%EF%.62%S8DG%DB6%
=6<6;2?%C;4K0104<1%47%DB6%!456%47%!0K0?%,;4865:;6%4<%,;618;0CH
a\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//]]
D04<%1B4:?5%<4D%E6%3256%D4%2CC?FJ%.030?2;?FG%0<%1:8B%2%8216G%S;DJ%
//]]%82<<4D%E6%3256%D4%2CC?FG%21%1:8B%2CC?082D04<%A4:?5%B2K6%
DB6%67768D%47%6MD6<50<=%DB6%4<6HF62;%C6;045%47%C;618;0CD04<%!%M65%
0<%DB6%?2AJ%"D%01%5610;2E?6%DB2D%32DD6;1%27768D0<=%D;2<1C4;D2D04<%
47%=4451%EF%162%E6%5680565%0<%21%1B4;D%2%D036%21%C4110E?6J%*B:1G%
DB6% 2CC?082D04<% 47% S;DJ% //]]% A4:?5% :<<686112;0?F% 6MD6<5% DB6%
C6;045%2<5%C6;30D%56?2F1%0<%DB6%16DD?636<D%47%9:61D04<%27768D0<=%
D;2<1C4;D2D04<G%84<D;2;F%D4%DB6%8?62;%0<D6<D%2<5%C:;C416%47%DB6%
?2AJ
GRH( M6&'($2(E4b4#$12(@40'0
(
%
*B6%34D04<%74;%;684<1056;2D04<%47%2%5680104<%47%DB6%!4??68D4;%
47%"<D6;<2?%b6K6<:6%%V%($+7%%DB6%;:<<0<=%47%DB6%C;618;0CD0K6%
C6;045%A0DB0<%AB08B%DB6%D2MC2F6;%32F%2CC62?%D4%DB6%!4:;D%47%*2M%
SCC62?1W%2<5%DB6%C6;045%;61:361%0D1%;:<<0<=%DB6%52F%74??4A0<=%
DB6%;6860CD%EF%DB6%D2MC2F6;%47%DB6%!4??68D4;L1%56<02?%47%1205%34H
D04<J%,4*66$&)*#!*>!]+)$#+<6!C$5$+V$!5.!4*+5$+)'*+!*>!"W'6'(('+$!
L<()'%)!4WV#&W$%2!?A//30G2!a<+.!I32!/D1/8.
GTH( C;;'%#(1;(4(B1#$12(;1"(M'%120$9'"4#$12
(
%
S%34D04<%74;%;684<1056;2D04<%4<%DB6%=;4:<5%DB2D%DB6%5680104<%
01%843C?6D6?F%2=20<1D%DB6%6K056<86%2<5%DB6%?2AG%X')W*V)!(*'+)'+e!
*V)%DB6%!%<50<=%2<5%C;4<4:<8636<D%3256%0<%DB6%R:5=36<D%DB2D%
A6;6%2??6=65?F%84<D;2;F%D4%DB6%6K056<86%2<5%DB6%?2A%01%(#*!>*#O<%
2<5%5461%+*)%1D4C%DB6%;:<<0<=%47%DB6%C6;045%A0DB0<%AB08B%D4%2CH
C62?%>j<67$d!5.!aVe*2!G:!"W'6.!:D!<+7!j'66<6*+!5.![%'(2!;F!H.B.!
/0D:8i!2<5%DB6%728D%DB2D%E674;6%6<D;F%47%DB6%4;56;%56<F0<=%DB6%
34D04<%74;%;684<1056;2D04<G%DB6%34K2<D1%!%?65%2%C?6250<=%AB6;6%
DB6F%C40<D65%4:D%DB6%7;2:5%2??6=65?F%84330DD65G%5461%+*)%8:;6%
DB6%56768D%47%1:8B%34D04<J%,B<#e<+)<2!$)!<6.!5.!4*V#)!*>!-(($<6%2!
$)!<6.2!?A/I/0:2!E<#.!F/2!/D;D8.
G)*H( [1<'(@40'0
(
(
-6%%4#(O,(I$0/1
N?UULLR3(!/",()S3()TRR
%
%
"<%4;56;%D4%;614?K6%AB6DB6;%4;%<4D%DB6%C;616<D%28D04<%B21%
C;618;0E65G%0D%01%<686112;F%D4%!%;1D%56D6;30<6%AB6<%DB6%;0=BD%47%
28D04<%74;%DB6%!%M0<=%47%DB6%C6;045%47%?6216%288;:65J%.B4:?5%0D%E6%
a]
%
S;DJ%//]]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
;68_4<65%7;43%DB6%D036%AB6<%DB6%C2;D061%6<D6;65%0<D4%DB6%1684<5%
84<D;28D%47%?6216%AB08B%A21%4<%S:=J%/Z]Z%21%DB6%5676<52<D1H2CH
C6??2<D1%8?203G%4;%2D%DB6%D036%AB6<%DB6%5680104<%47%DB6%!4:;D%47%
SCC62?1%:CB4?50<=%DB6%K2?050DF%47%DB6%1684<5%84<D;28D%47%?6216%
A21%C;43:?=2D65%AB08B%A21%4<%-4KJ%/ZaN%21%DB6%C?20<D077H2CH
C6??66%8?2031d
%
%
*B6%!4:;D%B6?5%DB2D%0D%A21%4<?F%4<%-4KJ%/ZaN%DB2D%DB6%82:16%
47%28D04<%74;%DB6%!%M0<=%47%DB6%C6;045%47%?6216%288;:65J%*B01%01%21%0D%
1B4:?5%E6%E682:16%C;04;%D4%DB2DG%DB6%K2?050DF%47%DB6%1684<5%84<D;28D%
47%?6216%A21%E60<=%8B2??6<=65J%*B6%8216%74;%:<?2A7:?%56D20<6;%
!%?65%EF%DB6%C?20<D077H2CC6??66%E68236%0<%728D%2%8216%9:61D04<0<=%
DB6%K2?050DF%47%DB6%1684<5%84<D;28D%4<%DB6%=;4:<51%DB2D%DB6%1205%
84<D;28D% A21% 103:?2D65% 2<5% DB2D% DB6;6% A21% <4% 84<1056;2D04<J%
*B6%C?20<D077H2CC6??66%84:?5%<4D%B2K6%E66<%6MC68D65%D4%!%?6%2<%
28D04<%74;%DB6%!%M0<=%47%DB6%C6;045%47%DB6%?6216%E674;6%DB6%!4:;D%47%
SCC62?1%C;43:?=2D65%0D1%5680104<%E682:16%1B6%A21%<4D%F6D%2A2;6%
DB2D%DB6%1205%C2;2=;2CB%47%DB6%1684<5%84<D;28D%A21%2%C;4K0104<%
DB2D%82??65%74;%2<%0<56!%<0D6%C6;045J%)4;%DB6%;6214<%DB2D%DB6%K6;F%
6M01D6<86G% 2<5% 1:E169:6<D?FG% DB6% 0<D6;C;6D2D04<% 47% DB6% 1684<5%
84<D;28D%47%?6216G%C2;D08:?2;?F%C2;J%Q%DB6;647G%A6;6%C:D%0<%011:6%
0<% DB6% :<?2A7:?% 56D20<6;% 8216G% DB6% 84:;D% D;F0<=% DB6% 8216% A21%
;69:0;65%D4%0<D6;C;6D%DB6%C;4K0104<1%47G%2<5%84<169:6<D?FG%;:?6%
4<%DB6%K2?050DF%47G%DB6%1205%84<D;28DJ
(
(
JI@J(O,(>!@
QM(XL)TR3(['/#,(K3()TTK
%
%
S1% D4% C6D0D04<6;L1% 84<D6<D04<% DB2D% DB6% 82:16% 47% 28D04<% 47%
;61C4<56<D%01%E2;;65%EF%C;618;0CD04<%2<5%DB2D%DB6;6%01%2%C6<50<=%
8216%E674;6%DB6%'2K24%b*!%A0DB%DB6%1236%82:16%47%28D04<G%E6%
0D%<4D65%DB2D%6')'%!($+7$+)'<%82<<4D%2CC?F%0<%2<%0<1D2<86%AB6;6%
DB6;6%01%+*!'7$+)')K!*>!(<#)'$%J
%
%
"<%DB6%8216%2D%E2;G%;684;51%1B4A%2<5%21%2530DD65%EF%C6H
D0D04<6;G% DB6% 28D04<% !%?65% 0<% DB6% `2<0?2% b*!% A21% 2=20<1D% DB6%
;61C4<56<D%AB0?6%DB6%8216%!%?65%0<%DB6%'2K24%b*!%A21%2=20<1D%
'S*"!&bG%DB6%C;61056<D%47%AB08B%01%DB6%;61C4<56<DJ%*B6%!%;1D%
8216%01%2=20<1D%2%+<)V#<6!($#%*+G%AB0?6%DB6%1684<5G%01%2=20<1D%2%
UV#'7'&<6!($#%*+J
aU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
>--?!#&
->$#67"#-.+!7.<!
,-."*7,"+
"#"$%!#'!(!->$#67"#-.+
,/01234!5
6%.%*7$!)*-&#+#-.+
(
!"#,())S+,(!2(1=&$:4#$12($0(4(_6"$9$%4&(2'%'00$#.(#1(:$O'3(#1(
91(1"(21#(#1(91,(
@ABBCDEF
G)H( C&'<'2#0(1;(42(A=&$:4#$12(G9'"$O'9(;"1<(#8'(N4#$2(($)*&+
,-#./!f(#1(=$29H
>2@% 2<% <&)'5$! 1:ER68D% >82??65% DB6% 4E?0=66% 4;% 8;650D4;@% h% DB6%
C4116114;% 47% 2% ;0=BDW% B6% 0<% AB416% 72K4;% DB6% 4E?0=2D04<% 01%
84<1D0D:D65J
>E@% 2%(<%%'5$!1:ER68D%>82??65%DB6%4E?0=4;%4;%56ED4;@%h%B6%AB4%
B21%DB6%5:DF%47%=0K0<=G%540<=G%4;%<4D%540<=J
>8@%
DB6%4ER68D%4;%C;61D2D04<%>DB6%1:ER68D%32DD6;%47%DB6%4E?0=2H
D04<@J
>5@% DB6% 67!%806<D% 82:16% >)W$! 5'+&V6VO! 4;% UV#'7'&<6! )'$@% h% DB6%
;6214<%ABF%DB6%4E?0=2D04<%6M01D1J
%
!
>9HQNS!"<%2%>$X!&<%$%G%)&b`%h%4;%DB6%32<<6;%0<%
AB08B%DB6%4E?0=2D04<%01%32<0761D65%h%01%2?14%03C4;D2<DJ@
aa
%
S;DJ%//]U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GKH( Cb4</&'
!
!
-!C;430161%D4%C20<D%L\%%C08D:;6%74;%L!21%2%;61:?D%47%2<%2=;66H
36<DJ
%
%
>+6;6%-!01%DB6%4E?0=4;W%L%01%DB6%4E?0=66W%DB6%C20<D0<=%47%L\%!
C08D:;6%01%DB6%4ER68D%4;%C;61D2D04<W%DB6%2=;6636<D%4;%84<D;28D%01%
DB6%67!%806<D%82:16J@
GLH( @12%'/#(1;(J"'0#4#$12(G-!M(]dC[E>ADH
(
%
S% (#$%)<)'*+% 01% 2<% 4E?0=2D04<W% 34;6% 1C680!%82??FG% 0D% 01% DB6%
1:ER68D%32DD6;%47%2<%4E?0=2D04<%h%2<5%32F%84<101D%47%e'5'+e%2%
DB0<=G%7*'+e%4;%+*)!7*'+e%2%86;D20<%28DJ%*B6%?2A%1C62_1%47%2<%
4E?0=2D04<%21%2%UV#'7'&<6!+$&$%%')K%D4%843C?F%A0DB%2%C;61D2D04<J%
*B6;6%01%2%VR:;05082?%<686110DFGX%74;%<4<H843C?02<86%82<%;61:?D%
0<%R:;05082?%4;%?6=2?%12<8D04<J
(
(
(
(
B4#440(24(N6/4(E'242#0Z
!001%$4#$12(O,(@4"&10(I$<4.6:4
429(^6&$424(I$':1(e94,(9'(Q4="$'&
N?LK*UT3(^62,(KS3()TRU
(
%
c<56;%,'%/]/aG%D6<2<D1H?611661%2;6%=0K6<%C;6H63CD0K6%4;%
C;676;6<D02?%;0=BD1%>;0=BD%47%!%;1D%;67:12?@%07%DB6F%B2K6%488:C065%DB6%
?2<5%4;%?4D%74;%4K6;%D6<%>/T@%F62;1J%*B6%4A<6;%B21%DB01%4E?0=2D04<%
D4%=;2<D%1205%C;676;6<86J%*B:1G%B6%82<<4D%16??%D4%2%DB0;5%C6;14<%
A0DB4:D%!%;1D%4776;0<=%DB6%1236%D4%DB6%?61166J%"7%DB6%?2DD6;%;6H
<4:<861%1205%;0=BDG%DB6%A20K6;%3:1D%E6%0<%2%(V@6'&!'+%)#VO$+).
GUH( l$290(1;(A=&$:4#$120
%
%
*B6;6%2;6%K2;04:1%E2101%74;%DB6%8?2110!%82D04<%47%4E?0=2D04<1J%
f0K6<%B6;6:<56;%2;6%76A%47%DB63I
>2@% P#*O!)W$!5'$X(*'+)!*>!k%<+&)'*+m!h
/@%
80K0?%4E?0=2D04<%>4;%($#>$&)%4E?0=2D04<@
N@%
<2D:;2?%4E?0=2D04<
Q@%
34;2?%4E?0=2D04<%>4;%'O($#>$&)%4E?0=2D04<@
%
'6!%<0D04<1%h
2@%
&'5'6!*@6'e<)'*+%h%DB2D%56!%<65%0<%S;DJ%//]UJ%*B6%
12<8D04<%01%R:50802?%C;48611J%NJ<O(6$S!-!C;430161%
D4%C2F!L%B01%>-\%@%56ED%47%,/%30??04<J
aY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//]U
E@%
+<)V#<6! *@6'e<)'*+! g! DB6% 5:DF% <4D% D4% ;684K6;%
AB2D%B21%5*6V+)<#'6K!E66<%C205%2?DB4:=B%C2FH
36<D%A21%<4%?4<=6;%;69:0;65J%NJ<O(6$S!-%4A61%L%
,/%30??04<J%O:D%DB6%56ED%B21%2?;625F%C;618;0E65J%
"7%-2%_<4A0<=%DB2D%0D%B21%C;618;0E65G%<6K6;DB6H
?611%1D0??%C2F1%L2%B6%,-8!82<<4D%?2D6;%4<%=6D%E28_%
AB2D% B6% K4?:<D2;0?F% C205J% *B6% 12<8D04<% 01% DB6%
6<X%47%84:;16G%E:D%4<?F%E682:16%84<1806<86%B25%
4;0=0<2??F%34D0K2D65%DB6%C2F36<DJ
8@%
O*#<6!*@6'e<)'*+%h%DB6%5:DF%47%2%!2DB4?08%D4%B62;%
3211%4<%.:<52F1%2<5%B4?F%52F1%47%4E?0=2D04<J%
*B6%12<8D04<%B6;6%01%84<1806<86%4;%34;2?0DFG%4;%
DB6%?2A%47%DB6%8B:;8BJ
%
j9HQNS!"7%2%!2DB4?08%C;430161%D4%B62;%3211%74;%
/T%84<168:D0K6%.:<52F1%0<%4;56;%D4%;6860K6%,/%
30??04<%DB01%4E?0=2D04<%E684361%2%&'5'6!4<6Jk
>E@% P#*O!)W$!5'$X(*'+)!*>!%V@U$&)!O<))$#!g
>8@%
/@%
#$<6!*@6'e<)'*+!h%DB6%4E?0=2D04<%D4%=0K6
N@%
($#%*+<6! *@6'e<)'*+% h% DB6% 4E?0=2D04<% )*! 7*% *#! +*)! )*!
7*
%
!
,NJ<O(6$S%DB6%5:DF%D4%(<'+)%2%B4:16G%4;%D4%;67;20<%
>#*O!&*OO'))'+e!<!+V'%<+&$8
P#*O!)W$!<>!!#O<)'5$+$%%!<+7!+$e<)'5$+$%%!*>!)W$!*@6'e<A!!
)'*+!h
/@%
(*%')'5$!*#!<>!!#O<)'5$!*@6'e<)'*+%h%DB6%4E?0=2D04<%D4%
e'5$%4;%D4!7*
N@%
+$e<)'5$!*@6'e<)'*+%h%DB6%4E?0=2D04<%<4D%D4%54%>AB08B%
<2D:;2??F%0<8?:561%V<4D%D4%=0K6X@
>5@% P#*O!)W$!5'$X(*'+)!*>!($#%*+%!*@6'e$7!h
/@%
V+'6<)$#<6!g!AB6;6%4<?F%4<6%47%DB6%C2;D061%01%E4:<5
%
!
,9HQNS!(K6;F%4E?0=2D04<%B21%N%C2;D061W%"7%*+6K%
4<6%47%DB63%01%@*V+7G%A6%B2K6%2%V+'6<)$#<6!4E?0=2D04<J%
NJ<O(6$S!-%4A61%L!,/%30??04<J%-%3:1D%C2F%L.8
N@%
@'6<)$#<6!g!AB6;6%@*)W!(<#)'$%%2;6%E4:<5%>NJ<O(6$S!
"<%2%84<D;28D%47%12?6G%DB6%E:F6;%01%4E?0=65%D4%C2FG%AB0?6%
DB6%16??6;%01%4E?0=65%D4%56?0K6;J@
aZ
%
S;DJ%//]U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
j9HQNS!O0?2D6;2?%4E?0=2D04<1%32F%E6I
2@%
;680C;482?
E@%
<4<H;680C;482?%>AB6;6%C6;74;32<86%EF%4<6%01%<4<H
56C6<56<D%:C4<%C6;74;32<86%EF%DB6%4DB6;@Jk
GSH( @"$#$%$0<(1;(#8'(I'!(2$#$12(=.(#8'(@19'
%
%
S;DJ%//]U%56!%<61%4E?0=2D04<%21%V2%R:;05082?%<686110DF%D4%=0K6G%
D4%54G%4;%<4D%D4%54JX%S1%A0??%E6%<4D0865G%DB01%1D;61161%36;6?F%DB6%
5:DF%47%DB6%56ED4;%>DB6%C2110K6%6?636<D@%A0DB4:D%63CB210[0<=%
2%84;;61C4<50<=%#'eW)!4<%DB6%C2;D%47%DB6%8;650D4;%>DB6%28D0K6%6?6H
36<D@J%&<%DB01%C40<DG%^:1D086%^JOJ$J%b6F61%47%DB6%.:C;636%!4:;D%
B21%;632;_65I%V*B01%56!%<0D04<G%D2_6<%7;43%.2<8B6[%b432<%01%
'+&*O(6$)$G%0<%DB2DG%0D%K06A1%4E?0=2D04<1%4<?F%7;43%DB6%56E0D%1056J%
*B6;6%01%<4%56ED%A0DB4:D%2%8;650DG%2<5%DB6%8;650D%01%2<%<%%$)!0<%
DB6%C2D;034<F%47%DB6%8;650D4;%R:1D%21%DB6%56ED%01%2%?02E0?0DF%47%DB6%
4E?0=4;J%)4??4A0<=%DB6%56768D0K6%36DB45%47%DB6%.C2<01B%!0K0?%
!456G%DB6%<6A%!456%16C2;2D61%#$%(*+%'@'6')K%7;43%DB6%4DB6;%6?6H
36<D%47%4E?0=2D04<JX%,?<XK$#\%!a*V#+<62!a<+.!F/2!/D;/2!(.!:G8.!+6%
DB6<%9:4D61%A0DB%2CC;4K2?%DB6%74??4A0<=%56!%<0D04<%=0K6<%EF%-#'<%!
C<O*%S
%
%
VS<% 4E?0=2D04<% 01% 2% R:;05082?% ;6?2D04<% AB6;6EF% 2% C6;14<%
>82??65%DB6%8;650D4;@%O<K!7$O<+7%7;43%2<4DB6;%>82??65%DB6%56ED4;@%
DB6%4E16;K2<86%47%2%56D6;30<2D0K6%84<5:8D%>DB6%=0K0<=G%540<=G%4;%
<4D%540<=@G%2<5%0<%8216%47%E;628BG%32F%5632<5%12D01728D04<%7;43%
DB6%2116D1%47%DB6%?2DD6;JX
%
%
j9HQNS%*B01%56!%<0D04<%01%288:;2D6%E682:16%0D%K06A1%V4EH
?0=2D04<X% 7;43% 2% VD4D2?X% 1D2<5C40<D% >E4DB% 28D0K6% 2<5% C2110K6%
K06AC40<D@Jk
G+H( [1<'(@40'0
(
(
J'&4.1(O,(N46"12
)K(J8$&,(USL(G-!MH
(
!
P-4QRS!S%A076%A21%2E4:D%D4%56?0K6;%2%8B0?5J%+6;%C2;6<D1H
0<H?2A%82??65%DB6%548D4;J%]%%V$S%PB4%1B4:?5%C2F%DB6%548D4;I%DB6%
B:1E2<5%4;%DB6%C2;6<D1d
%
!
TN?=S%*B6%B:1E2<5%1B4:?5%C2FG%6K6<%07%B6%A21%<4D%DB6%
4<6% AB4% 82??65% DB6% 548D4;J% "D% 01% B01% 5:DF% D4% 1:CC4;D% DB6% A076G%
YT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//]U
2<5%1:CC4;D%0<8?:561%365082?%2DD6<52<86J%*B6%5:DF%D4%C2F%01%2<%
4E?0=2D04<%D4%=0K6G%2<5%01%03C4165%EF%DB6%?2AJ
(
(
(
J100(O,(Q1##&$'=
)TL(D,h,[,(U)R
!
P-4QRS!*B6;6%A6;6%DA4%C2;D<6;1%6<=2=65%0<%E:F0<=%2<5%
;616??0<=%?2<5J%S7D6;%DB6F%B25%E4:=BD%2%C0686%47%?2<5G%4<6%21_65%
DB6%4DB6;%D4%16??%DB6%?2DD6;L1%1B2;6%D4%B03%74;%DB6%C;086%0<K61D65%
EF%DB6%?2DD6;J%*B6%!%;1D%C2;D<6;G%AB4%<4A%843C?6D6?F%4A<65%DB6%
?2<5G% ;614?5% 0D% 2D% 2% WVe$! (#*!!)! D4% 2% DB0;5% C6;14<J% *B6% 1684<5%
C2;D<6;%A4:?5%<4D%B2K6%14?5%B01%1B2;6%B25%B6%_<4A<%DB2D%2%E0=%
4776;%B25%E66<%3256%EF%1:8B%DB0;5%C6;14<J%*B6%!%;1D%C2;D<6;%2?H
?6=65%DB2D%B6%1B4:?5%<4D%E6%E?2365%4<%DB6%=;4:<5%DB2D%B6G%27D6;%
2??%505%<4D%32_6%2<F%72?16%84<862?36<D%D4%B01%C2;D<6;G%DB2D%01G%
B6%505%<4D%D6??%DB6%?2DD6;%DB2D%<4E45F%A2<D65%DB6%?2<5J%]%%V$S%
`2F%DB6%1684<5%C2;D<6;%1:886117:??F%E;0<=%2<%28D04<%74;%5232=61%
2=20<1D%DB6%!%;1D%C2;D<6;d
%
!
TN?=S!e61G%E682:16%DB6%!%;1D%C2;D<6;%01%?02E?6J%+6%B25%DB6%
5:DF%<4D%4<?F%D4%32_6%2<F%72?16%84<862?36<D%E:D%2?14%D4%2E1D20<%
7;43%2??%_0<51%47%84<862?36<D%0<1472;%21%DB6%C2;D<6;1B0C%A21%
84<86;<65J% *B01% 01% 2<% 4E?0=2D04<% )*! 7*% >D4% ;6?2F% 2??% C6;D0<6<D%
0<74;32D04<@J
(
(
^1456$2(J,(D'<'2V1(O,(-'"24='([4=$&&421
N?K*TXX3(['/#,(X3()T+R
(
!
P-4QRS! S% 3:<080C2?% 32F4;G% :C4<% 211:3CD04<% 47% 47!%86G%
2;E0D;2;0?F%501301165%2%84;C4;2?%>2%80K0?%16;K086%6?0=0E?6@%0<%DB6%
C4?086%74;86%47%DB6%3:<080C2?0DFG%A0DB4:D%5:6%0<K61D0=2D04<J%]%%V$S%
"1%DB6%32F4;%C6;14<2??F%?02E?6d
%
!
TN?=S!e61G%E682:16%B01%28D%47%50130110<=%DB6%84;C4;2?%A0DBH
4:D%C;6K04:1%2530<01D;2D0K6%0<K61D0=2D04<%2<5%A0DB4:D%R:1D0!%2E?6%
82:16% 01% 8?62;?F% 2<% 0<R:;F% D4% DB6% 84;C4;2?L1% ;0=BD1J% *B6% 32F4;%
82<<4D%B056%:<56;%DB6%32<D?6%47%B01%47!%802?%82C280DF%2<5%C211%
DB6%?02E0?0DF%D4%DB6%3:<080C2?0DF%47%AB08B%B6%A21%32F4;J%*B6;6%
2;6%2?D4=6DB6;%D44%32<F%82161%47%DB01%<2D:;6G%AB6;60<%?482?%6?68H
D0K6%47!%802?1G%:C4<%211:3CD04<%47%47!%86G%A06?5%DB60;%<6AH74:<5%
C4A6;%0<5018;030<2D6?F%EF%;6C?280<=%63C?4F661%A0DB%DB60;%4A<%
(#*)$en%G%;6=2;5?611%47%DB6%?2A1%2<5%;6=:?2D04<1%=4K6;<0<=%DB6%
Y/
%
S;DJ%//]U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
80K0?%16;K086J%#08D4;F%2D%DB6%C4??1%1B4:?5%<4D%E6%D2_6<%21%2:DB4;H
0DF%74;%DB6%843301104<%47%1:8B%0??6=2?%28D1J
(
(
N'12$9'0(J'2:012(O,(@16"#(1;(!//'4&0
QM(N?+S+KK3(^62,(KT3()TRU
%
%
"7%DB6%4A<6;%47%86;D20<%1B2;61%1B4:?5%C?65=6%DB6%1236%D4%
B01% 8;650D4;G% 2<5% ?2D6;% 1205% 4A<6;% 16??1% B01% 1B2;61% D4% 2% DB0;5%
C6;14<G%DB6%8;650D4;%82<<4D%E6%843C6??65%D4%1:;;6<56;%DB6%1B2;6%
86;D0!%82D61%D4%DB6%E:F6;G%2<5%DB01%;67:12?%A0??%<4D%0<K2?052D6%DB6%
12?6J
(
(
(
J8$&,(D4#$124&(-42\(O,(@16"#(1;(!//'4&0
XU([@!I(XR+
G)TT+H
%
%
S% ?482?% E2<_G% AB0?6% 28D0<=% 21% ?482?% 84;;61C4<56<D% E2<_G%
5461%<4D%B2K6%DB6%;0=BD%D4%0<D6;86CD%7:<51%E60<=%84:;165%DB;:%
0D%EF%0D1%74;60=<%84:<D6;C2;D%74;%D;2<130DD2?%2<5%56C410D%D4%DB6%
2884:<D%47%2<%0<50K05:2?%A0DB%2<4DB6;%?482?%E2<_G%2<5%DB6;627D6;%
2CC?F%DB6%1205%7:<51%D4%86;D20<%4E?0=2D04<1%4A65%D4%0D%EF%DB6%1205%
0<50K05:2?J
GXH( >2(42(A/#$12(#1(-6.3(J4.<'2#(1;(J6"%840'(J"$%'(-.(@"'9$?
#1"(>0(@12#$2:'2#(d/12(Cb'%6#$12(429(I'&$O'".(1;(4(I''9(
1;([4&'(-.(I'=#1"
%
%
&E?0=2D04<1%:<56;%2<%4CD04<%D4%E:F%2;6%;680C;482?%4E?0=2H
D04<1J% ,6;74;32<86% 47% 4<6% 4E?0=2D04<% 01% 84<50D04<65% 4<% DB6% 10H
3:?D2<64:1%7:?!%??36<D%47%DB6%4DB6;%4E?0=2D04<J%"<%4DB6;%A4;51G%
0<%2<%4CD04<%D4%E:FG%C2F36<D%47%C:;8B216%C;086%EF%8;650D4;%01%
84<D0<=6<D%:C4<%DB6%6M68:D04<%2<5%56?0K6;F%47%2%5665%47%12?6%EF%
DB6%56ED4;J%,T$'#%!*>!?V'%!L<&V%2!$)!<6.!5.!4-!b!R(*V%$%!P<V%)'+*!
<+7!j'&)*#'<+<!=V#<K2!BC!/IG1D;2!=$&.!F2!I00/8.!
GRH( @40'
(
(
(
a'$"0(1;(N6$0(-4%603('#(4&,(O,(@!(W([/160'0(P460#$21(
429(e$%#1"$424(I6"4.
QM()KX+TS3(I'%,(L3(K**)
%
!
P-4QRS!PB6<%C;0K2D6%;61C4<56<D1%4CD65%D4%E:F%DB6%C;4CH
6;DFG%DB60;%4E?0=2D04<%A21%D4%25K016%C6D0D04<6;1%47%DB60;%5680104<%
YN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//]a
2<5%DB60;%;6250<611%D4%C2F%DB6%C;086J%]%%V$S%SD%DB01%C40<D%0<%D036G%
A6;6%;61C4<56<D1%2?;625F%4E?0=65%D4%32_6%28D:2?%C2F36<Dd
%
!
TN?=S% -4J% &<?F% :C4<% C6D0D04<6;1L% 28D:2?% 6M68:D04<% 2<5%
56?0K6;F%47%DB6%5665%47%12?6%A6;6%DB6F%;69:0;65%D4%C2FJ%*B6%?2DD6;%
A21%84<D0<=6<D%:C4<%DB6%74;36;J
(
!"#,())SX,(A=&$:4#$120(4"$0'(;"1<F
(
G)H( N47c
(
GKH( @12#"4%#0c
(
GLH( ]640$?%12#"4%#0c
(
GUH( !%#0(1"(1<$00$120(/62$08'9(=.(&47c(429
(
GSH( ]640$?9'&$%#0,
@ABBCDEF
G)H( [16"%'0(1;(A=&$:4#$120
>2@% ?<X!>4E?0=2D04<1%$J!6$e$@%h%?0_6%DB6%5:DF%D4%C2F%D2M61%2<5%
D4%1:CC4;D%4<6L1%7230?FJ
>E@% 4*+)#<&)%!>4E?0=2D04<1%$J!&*+)#<&)V@%h%?0_6%DB6%5:DF%D4%;6C2F%
2%?42<%EF%K0;D:6%47%2<%2=;6636<DJ
>8@%
hV<%'A&*+)#<&)%!>4E?0=2D04<1%$J!YV<%'A&*+)#<&)V@%h%?0_6%DB6%
5:DF%D4%;67:<5%2<%V4K6;%8B2<=6X%47%34<6F%E682:16%47%DB6%
9:210H84<D;28D%47%%*6V)'*!'+7$@')'%4;%V:<5:6%C2F36<DJX
>5@% 4#'O$%!*#!-&)%!*#!HO'%%'*+%!"V+'%W$7!@K!?<X%>4E?0=2D04<1%
$J!O<6$!!&'*!4;%$J!7$6'&)*@%h%?0_6%DB6%5:DF%D4%;6D:;<%2%1D4?6<%
82;2E24J
>6@% hV<%'A7$6'&)%!*#!Q*#)%%h%>4E?0=2D04<%$J!YV<%'A7$6'&)*!4;%$J!
YV<%'AO<6$!!&'*@%h%?0_6%DB6%5:DF%D4%;6C20;%5232=6%5:6%D4%
<6=?0=6<86J
GKH( @"$#$%$0<(1;(#8'(C26<'"4#$12(N$0#'9(I172(=.(#8'(N47
%
%
*B6%6<:36;2D04<%01%<4D%1806<D0!%8%E682:16%0<%;62?0DF%DB6;6%
2;6%4<?F%DA4%14:;861I%DB6%?2A%2<5%84<D;28D1G%E682:16%4E?0=2D04<1%
2;010<=%7;43%9:210H84<D;28D1G%8;0361G%2<5%9:210H56?08D1%2;6%;62??F%
03C4165%EF%DB6%?2AJ%,?$V+e!L$+!5.!H\L#'$+2!F3!"W'6.!/3I8.
YQ
%
S;DJ%//]Y
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GLH( A;;'"0(1;(M'74"9($2(D'70/4/'"(1"(J6=&$%(@12#'0#
%
%
S?DB4:=B%<4%6MC;611%C;4K0104<%47%?2A%;6=:?2D61%1205%84<H
D61D1G%0D%01%:<56;1D445%DB2D%4<86%84<D61D2<D1%2886CD%DB6%4776;%EF%
1:E30DD0<=%6<D;061G%DB6;6%01%2%14;D%47%'O(6'$7!&*+)#<&)!DB2D%C;0[61%
A4:?5%6K6<D:2??F%E6%2A2;565J%"D%01%:<56;1D445%DB2D%DB6%;:?61%47%
DB6%84<D61D%74;3%C2;D%47%DB6%84<D;28D:2?%1D0C:?2D04<1J
GUH( Cb%&60$O'2'00(1;(#8'(C26<'"4#$12
(
%
*B6%6<:36;2D04<%EF%DB6%?2A%01%$J&6V%'5$i!B6<86G%<4%4E?0=2H
D04<%6M01D1%07%0D1%14:;86%01%<4D%4<6%47%DB416%6<:36;2D65%:<56;%
S;DJ%//]aJ%,9<5<6$%!5.!C'<%2!3!"W'6.!;038.
(
!"#,())SR,(A=&$:4#$120(9'"$O'9(;"1<(&47(4"'(21#(/"'06<'9,(
A2&.( #810'( 'b/"'00&.( 9'#'"<$2'9( $2( #8$0( @19'( 1"( $2( 0/'%$4&(
&470(4"'(9'<4294=&'3(429(084&&(='("':6&4#'9(=.(#8'(/"'%'/#0(
1;(#8'(&47(78$%8('0#4=&$08'0(#8'<c(429(40(#1(784#(840(21#(=''2(
;1"'0''23(=.(#8'(/"1O$0$120(1;(#8$0(-11\,
@ABBCDEF
G)H( A=&$:4#$120(Cb(N':'
>2@% NJ<O(6$%S
(
(
/@%
DB6%5:DF%D4%1:CC4;DJ%,-#).!ID/2!4'5'6!4*7$8.
N@%
DB6% 5:DF% D4% C2F% D2M61J% ,9<)'*+<6! ]+)$#+<6! C$5$+V$!
4*7$8.
@4212$V491(O,(-'2$#'V
N?UTL)S3(N?+*T++3(P'=,(K*3()TRU
%
%
*B6%4E?0=2D04<%47%2%32;;065%84:C?6%D4%1:CC4;D%628B%
4DB6;G%:<56;%DB6%?2AG%=6<6;2??F%1:E101D1%2??%DB;4:=B4:D%DB6%
32;;02=6J%"7%1:CC4;D%AB08B%B25%E66<%1:1C6<565%01%2=20<%
0<K4_65G%2%103C?6%34D04<%0<%DB6%1236%C;486650<=%A0??%1:7H
!%86J%*B6;6%01%<4%<686110DF%D4%!%?6%2%16C2;2D6%28D04<J%>-4D6%
DB2D%0<%2%K6;F%;62?%16<16G%2%!%<2?%R:5=36<D%74;%1:CC4;D%82<%
<6K6;%E6%;62??F%!%<2?%21%DB6%234:<D%=0K6<%32F%0<8;6216G%
568;6216G%4;%32F%6K6<%86216G%2D%?621DG%D63C4;2;0?FJ@
Y\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//]Y
>E@% -4% 2=;6636<D% 01% <686112;F% E674;6% 4E?0=2D04<% $J! 6$e$% 82<%
2;016G%E:D%47%84:;16%DB6%?2A%1D6C1%0<%4<?F%E682:16%47%B:32<%
28D:2D04<1J%)4;%6M23C?6G%4<6%AB4%=23E?61%2<5%A0<1%82<%E6%
843C6??65%EF%DB6%?416;%D4%;6D:;<%DB6%A0<<0<=1J%,-#).!I0/:8.%
*B6% 28D04<% EF% DB6% ?416;% 01% 82??65% '+7$@')<)V%! <%%VO(%').%
,?$V+e!L$+!5.!H\L#'$+2!F3!"W'6.!/3I8.
(
(
e94,(9'(M'%$2#1(O,(>2%$12:
XX([@M!()T+
(
%
S%C6;14<%AB4%E:F1%2<4DB6;L1%C;4C6;DF%:<2A2;6%47%DB6%;0=BD%
DB6;6D4%47%1436%4DB6;%C2;DF%01%D4%E6%84<1056;65%2%E:F6;%0<%=445%
720DBJ%PB0?6%B6%01%?02E?6G%B01%01%DB6%?02E0?0DF%47%2%C6;14<%0<%=445%
720DBJ
(
(
['""421(O,(@'2#"4&(-42\
N?L*S))3(P'=,()U3()TR*
(
%
*B6%!6<D;2?%O2<_%,+*X!L<+eM*!R$+)#<68%01%-&*%&O$"f('%
D4%C2F%DB6%56C410D%47%2%56C410D4;%3256%0<%2<%0<14?K6<D%E2<_J
!
!
>9HQNS! QW$! "W'6'(('+$! =$(*%')! ]+%V#<+&$! 4*#(*#<)'*+!
g!"=]4!g!C2F1%:C%D4%,/TTGTTTJTT%C6;%56C410D4;@J
(
(
[42#10(O,(@16"#(1;(!//'4&0
N?+*K)*3(B4",(KX3()TRU
%
%
*B6%;0=BD%47%C;6H63CD04<%>;0=BD%47%!%;1D%;67:12?@%4;%;6563CH
D04<%:<56;%,'%/]/a%;676;1%4<?F%D4%:;E2<%6<+7%?62165%D4%2%C6;14<%
AB4%84<1D;:8D1%B01%B4:16%DB6;64<%2<5%AB4%B21%?62165%DB6%?2<5%
74;%34;6%DB2<%D6<%>/T@%F62;1J%*B6%?2A%5461%<4D%2CC?F%07%E4DB%DB6%
?2<5%2<5%DB6%B4:16%E6?4<=%D4%DB6%?6114;J%"<%DB6%?2DD6;%8216G%DB6%
?6114;%B21%<4%?6=2?%4E?0=2D04<%D4%2??4A%C;663CD04<%4;%;6563CH
D04<J
(
(
Q12V4&'0(O,(J8$&$//$2'(D4#$124&(-42\
QM(LLLK*3(B4.(L*3()TRL
(
%
*B6% ,-O% 01% <4D% 2<% 4;50<2;F% 84;C4;2D04<% 2<5% DB6;674;6%
<4D%=4K6;<65%EF%DB6%!4;C4;2D04<%$2A%E:D%EF%0D1%4A<%8B2;D6;J%S%
1D48_B4?56;%47%DB6%,-O%82<<4DG%DB6;674;6G%0<101D%4<%DB6%0<1C68H
Y]
%
S;DJ%//]Z
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
D04<%47%0D1%E44_1J%*B01%82<%E6%54<6%4<?F%EF%DB6%'6C2;D36<D%47%
.:C6;K0104<%2<5%(M230<2D04<%47%DB6%!6<D;2?%O2<_%,+*X!L<+eM*!
R$+)#<68.
GKH( B'42$2:(1;(#8'(!"#$%&'(G-!MH
%
%
*B6% ?2A% 12F1% V4E?0=2D04<1% 56;0K65% 7;43% ?2A% 2;6% +*)! (#$A
%VO$7.X%*B01%36;6?F%362<1%DB2D%DB6%4E?0=2D04<%3:1D%E6%8?62;?F%
>6MC;611?F%4;%03C?065?F@%16D%74;DB%0<%DB6%?2A%>DB6%!0K0?%!456%4;%
.C6802?%$2A1@J%*B:1G%2<%63C?4F6;%01%4;50<2;0?F%<4D%;69:0;65%D4%
7:;<01B%B01%63C?4F661%A0DB%6$e<6!<%%'%)<+&$2!74;%<4%?2A%;69:0;61%
DB01J%>R$$!=$!6<!4#Vd!5.!9*#)W$#+!QW$<)#'&<6!N+)$#(#'%$%2!;0!H.B.!
:II;2!R$().!/D;:2%AB6;6%2%34K06%B4:16%=:2;5G%74;865%D4%5676<5%
B0316?7%0<%84:;D%74;%_0??0<=%2%=2D6%8;21B6;G%A21%289:0DD65%E:D%A21%
<4D%2??4A65%D4%;684K6;%2DD4;<6FL1%7661%7;43%DB6%DB62D6;%4A<6;J@%
"<%8216%47%*5$#(<KO$+)!47%D2M61G%DB6%-2D04<2?%f4KLDJ%82<<4D%E6%
;69:0;65%D4%C2F%0<D6;61D%4<%DB6%234:<D%;67:<52E?6%0<%DB6%<@%$+&$!
47%2%1D2D:D4;F%C;4K0104<%6MC;611?F%50;68D0<=%4;%2:DB4;0[0<=%1:8B%
C2F36<DJ%,4*66$&)*#!*>!]+).!C$5.!5.!P'%W$#2!$)!<6.2!?A//1II!<+7!
?A//1132!a<+.!I32!/D1/8.
(
(
a$&4"$1(^4"4O4#4(O,([429$:42=4.42
N?S+)X*3(^42,(L)3()TRU
%
%
S%B0=B%18B44?%C;0<80C2?%W<%!+*!6$e<6!*@6'e<)'*+%D4%7280?0D2D6%
DB6%;6?6216%47%DB6%12?2;F%50776;6<D02?1%47%DB6%D628B6;1%:<56;%B03J%
.4%07%B6%;6860K61%;603E:;1636<D%74;%B01%V6MC6<161X%4;%21%V=07D1GX%
B6%82<<4D%E6%25R:5=65%=:0?DF%:<56;%DB6%S<D0Hf;27D%$2AG%74;%27D6;%
2??G%B6%B25%<4%5:DF%D4%54%1205%7280?0D2D04<J
GLH( @12"($%#(-'#7''2(@$O$&(@19'(429([/'%$4&(N470
%
%
"7%;6=2;50<=%2<%4E?0=2D04<%$J!6$e$2!DB6;6%01%2%84<"%08D%E6DA66<%
DB6%-6A%!0K0?%!456%2<5%2%1C6802?%?2AG%DB6%?2DD6;%C;6K20?1%:<?611%
DB6%84<D;2;F%B21%E66<%6MC;611?F%1D0C:?2D65%0<%DB6%-6A%!0K0?%!456J%
,R$$!-#).!/38.
(
!"#,( ))ST,( A=&$:4#$120( 4"$0$2:( ;"1<( %12#"4%#0( 84O'( #8'(
;1"%'(1;(&47(='#7''2(#8'(%12#"4%#$2:(/4"#$'0(429(0816&9(='(
%1</&$'9(7$#8($2(:119(;4$#8,
YU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//]Z
@ABBCDEF
G)H( A=&$:4#$120(Cb?@12#"4%#6
%
%
PB0?6%4E?0=2D04<1%2;010<=%7;43%2%84<D;28D%B2K6%DB6%74;86%
47%6<X!E6DA66<%DB6%C2;D061G%DB01%7*$%!+*)%362<%DB2D%DB6%?2A%01%
0<76;04;%D4%84<D;28D1J%*B01%01%E682:16%E674;6%2%84<D;28D%82<%E6%
6<74;865G% 0D% 3:1D% !%;1D% E6% K2?05G% 2<5% 0D% 82<<4D% E6% K2?05% 07% 0D% 01%
2=20<1D%DB6%?2AJ%`4;64K6;G%DB6%;0=BD%47%DB6%C2;D061%D4%1D0C:?2D6%01%
?030D65J%+6<86G%S;DJ%/QTU%47%DB6%!0K0?%!456%12F1I%V*B6%84<D;28DH
0<=%C2;D061%32F%61D2E?01B%1:8B%1D0C:?2D04<1G%8?2:161G%D6;31%2<5%
84<50D04<1%21%DB6F%32F%5663%84<K6<06<DG%C;4K0565G%DB6F%2;6%<4D%
84<D;2;F%D4%?2AG%34;2?1G%=445%8:1D431G%C:E?08%4;56;G%4;%C:E?08%
C4?08FJX
%
%
S1%?4<=%21%S;DJ%/QTU%01%843C?065%A0DBG%DB6%84<D;28D%1B4:?5%
E6%=0K6<%67768DG%6K6<%07%2D%DB6%D036%0D%A21%6<D6;65%0<D4G%<4%?6=2?%
C;4K0104<%6M01D65%=4K6;<0<=%0DJ%,hV'd<+<!5.!C$7Ve$#'*2!;0!H.B.!
I:::2!aV+.!/D;:8.
GKH( B'42$2:(1;(#8'(!"#$%&'
(
%
*B6%S;D08?6%362<1%DB2D%<60DB6;%C2;DF%32F%:<0?2D6;2??F%2<5%
:C4<%B01%4A<%6M8?:10K6%K4?0D04<G%6182C6%B01%4E?0=2D04<1%:<56;%DB6%
84<D;28DG%:<?611%DB6%4DB6;%C2;DF%2116<D65%DB6;6D4G%4;%:<?611%74;%
82:161%1:7!%806<D%0<%?2A%2<5%C;4<4:<865%2569:2D6%EF%2%843C6D6<D%
D;0E:<2?J%,?A/0FFG2!E<K!IG2!/D;G8.
!
%
V!43C?02<86% 0<% =445% 720DBX% 362<1% DB2D% A6% 3:1D% 0<D6;H%%
C;6D%V<4D%EF%DB6%?6DD6;%DB2D%_0??6DB%E:D%EF%DB6%1C0;0D%DB2D%=0K6DB%
?076JX% ,R$$! f'66'<O! B*6<+e&*! 4*+%)#V&)'*+! 4*#(.! 5.! "4]L2! :3;!
R4C-!I0F!_I001`.8.
(
(
B4"#$2(O,(B4"#$23('#(4&,
N?)KULT3(B4.(KL3()TST
(
%
PB6;6%DB6%C2;D061%D4%2%843C;43016%2=;6636<D%10=<65%2<5%
6M68:D65% DB6% 1236% P"$$"-f$e% 2<5% #&$c-*Sb"$eG% DB6F%
2;6%O&c-'%EF%0D1%D6;31G%6K6<%07%DB6%!&cb*%E674;6%AB08B%0D%
A21%3256%B25%-&%R:;01508D04<%4K6;%DB6%8216J%"<%2%;6=036%47%?2A%
2<5%4;56;G%DB6%;6C:502D04<%47%2<%2=;6636<D%K2?05?F%6<D6;65%0<D4%
82<<4D%E6%3256%A0DB4:D%2<F%R:1D0!%2E?6%;6214<J%>9HQNS!*B6%2CH
C;4K2?%47%DB6%84:;D%B6;6%01%0332D6;02?W%AB2D%01%03C4;D2<D%01%DB6%
3:D:2?%84<16<D%D4%DB6%843C;43016J@
Ya
%
S;DJ%//]Z
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
(
(
D4#$124&(B4"\'#$2:(@1"/,(GD!B!M@AH(O,(E423('#(4&,
N?)X*XU3(B4",(L)3()T+U
(
!
P-4QRS!&<%S:=:1D%YG%/Z]ZG%DB6%O42;5%47%'0;68D4;1%47%DB6%
)('(bS*"&-%47%-S`Sb!&%'".*b"Oc*&b.%;69:61D65%DB6%
,;61056<D% 47% DB6% ,B0?0CC0<61% D4% 2??4A% DB6% -S`Sb!&% D4% C:;H
8B216%86;D20<%8433450D061G%74;%501D;0E:D04<%D4%DB6%363E6;1%47%
DB6% )('(bS*"&-J% cC4<% 6<54;1636<D% EF% DB6% ,;61056<DG% DB6%
-S`Sb!&%2:DB4;0[65%DB6%03C4;D2D04<J%PB6<%DB6%)656;2D04<%
=2K6%-S`Sb!&%86;D20<%821B%25K2<861%74;%DB6%841D%47%03C4;H
D2D04<G% -S`Sb!&% 2<5% DB6% )656;2D04<% 6M68:D65% 2% 84<D;28DG%
AB6;6EF%DB6%74;36;%14?5%D4%DB6%?2DD6;%DB6%=4451%D4%E6%03C4;D65J%
,2;D%47%DB6%=4451%>AB6<%DB6F%2;;0K65@%A21%56?0K6;65%D4%DB6%)65H
6;2D04<G%E:D%AB6<%2%<6A%O42;5%D44_%8B2;=6%47%DB6%-S`Sb!&G%
DB6% O42;5% ;67:165% 7:;DB6;% 56?0K6;F% D4% 4:D1056;1J% ]%%V$S! P21%
-S`Sb!&L1%28D04<%C;4C6;d
%
!
TN?=S% -4G% E682:16% 0D% B25% 6<D6;65% 0<D4% 2% K2?05% 84<D;28D%
A0DB%DB6%)656;2D04<J
GLH( E8'(M$:8#(#1(C2#'"($2#1(@12#"4%#0
(
%
*B6%;0=BD%D4%6<D6;%0<D4%?2A7:?%84<D;28D1%84<1D0D:D61%4<6%47%
DB6%?0E6;D061%47%DB6%C64C?6%47%DB6%.D2D6J%"7%DB2D%;0=BD%E6%1D;:8_%
54A<%4;%2;E0D;2;0?F%0<D6;76;65%A0DBG%2%1:E1D2<D02?%03C20;36<D%
47%84<1D0D:D04<2?%;0=BD1%A4:?5%;61:?DJ%,"$*(6$!5.!"*O<#2!:1!"W'6.!
::08.%-6K6;DB6?611G%0<%84<D;28D1%AB6;6%C:E?08%0<D6;61D%01%0<K4?K65%
>21%0<%DB6%8216%47%?2E4;%2=;6636<D1@G%DB6%=4K6;<36<D%B21%2%;0=BD%
D4%0<D6;K6<6%74;%DB6%C;4D68D04<%47%DB6%AB4?6J%,?$K)$!?<+7!Q#<+%.!
5.!?$K)$!P<#O$#\%!^+'*+2!BC!?A/DGG2!E<K!/I2!/D:38.
GUH( I$;;'"'2%'0(-'#7''2(42(A=&$:4#$12(429(4(@12#"4%#
(
%
S<% 4E?0=2D04<% 01% DB6% #$%V6)! 47% 2% 84<D;28D% >4;% 1436% 4DB6;%
14:;86@J%+6<86G%AB0?6%2%84<D;28DG%07%K2?05G%2?A2F1%;61:?D1%0<%4E?0=2H
D04<1G%<4D%2??%4E?0=2D04<1%8436%7;43%84<D;28D1J%S%84<D;28D%2?A2F1%
C;61:CC4161%2%366D0<=%47%DB6%30<51W%DB01%01%<4D%<686112;0?F%D;:6%
74;%2??%_0<51%47%4E?0=2D04<1J
%
%
O6%0D%<4D65G%B4A6K6;G%7;43%2<4DB6;%K06AC40<D%DB2D%2%84<H
D;28D%32F%0D16?7%E6%DB6%;61:?D%47%2<%4E?0=2D04<J%*B:1G%07%"%6<=2=61%
-%21%DB6%74;36;L1%2=6<DG%A6%B2K6%DB6%&*+)#<&)!47%2=6<8FJ%S1%2<%
2=6<DG% -% B21% DB6% *@6'e<)'*+2% 12F% D4% ?44_% 2;4:<5% 74;% 8?06<D1% 4;%
YY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//]Z
E:F6;1G%21%0<%DB6%;62?%61D2D6%E:10<611J%S1%2%;61:?D%47%1:8B%4E?0H
=2D04<G%-%32F%6<D6;%0<D4%2%84<D;28D%47%12?6%A0DB%4G%2%8:1D436;J%
*B6%84<D;28D%47%12?6%0D16?7%;61:?D1%0<%DB6%*@6'e<)'*+%%D4%C2F%2<5%
D4%56?0K6;J%*B6%4E?0=2D04<%D4%7$6'5$#%32F%;61:?D%0<%2%84<D;28D%47%
82;;02=6G%2<5%14%4<G%<7!'+!!+')VO.
GSH( [1<'(I'%$9'9(@40'0
(
(
I'(&10(M'.'0(O,(!&'_491
)+(J8$&,(UTT
(
!
P-4QRS%S%E4;;4A6;%2=;665%D4%C2F%B01%56EDG%2<5%0<%8216%47%
<4<HC2F36<DG%D4%;6<56;%7;66%16;K086%21%2%16;K2<DJ%]%%V$S%"1%DB6%
4E?0=2D04<%K2?05d
%
!
TN?=S!*B6%4E?0=2D04<%D4%C2F%01G%47%84:;16G%K2?05%2<5%82<<4D%
E6%9:61D04<65%E:D%DB6%:<56;D2_0<=%D4%;6<56;%54361D08%16;K0861%
74;%7;66%01%84<D;2;F%D4%?2A%2<5%34;2?1G%74;%B6;6G%1?2K6;F%A4:?5%
;61:?DJ%>9HQNS!"7G%B4A6K6;G%DB6%V7;66X%16;K0861%A0??%E6%;6<56;65%
0<%%<)'%><&)'*+%47%DB6%56EDG%DB6%1D0C:?2D04<%82<%E6%=0K6<%67768DG%
74;%B6;6%DB6%16;K0861%A0??%+*)!;62??F%E6%=;2D:0D4:1J%(K6<%0<%DB01%
8216G%B4A6K6;G%1C680!%8%C6;74;32<86%47%DB6%16;K086%A0??%<4D%E6%2%
C;4C6;%;6365F%74;%<4<H843C?02<86J%"<1D625G%2<%28D04<%74;%523H
2=61%47%C2F36<D%47%DB6%56ED%1B4:?5%E6%E;4:=BDJ@
(
(
B1&$24(O,(9'(&4(M$O4
+(J8$&,()K
%
!
P-4QRS!*B6%C2;D061%0<%2%8216%2=;665%D4%=4%D4%84:;D%0<%S?E2FG%
2?DB4:=B%2<4DB6;%!4:;D%B21%UV#'%7'&)'*+.
!
!
TN?=S!*B6%2=;6636<D%01%<:??%2<5%K405G%74;%R:;01508D04<%01%
84<76;;65%EF%?2AG%2<5%<4D%EF%DB6%A0??%47%DB6%C2;D061J
(
(
-4%8"4%8(O,(Q1&$2:%1
LT(J8$&,()LR
%
!
]RR^NS!"7%DB6;6%01%2<%6MC;611%A;0DD6<%84<D;28D%74;%7661%E6H
DA66<%2<%2DD4;<6F%2<5%B01%8?06<DG%32F%DB6%84:;D%1D0??%501;6=2;5%
DB6%84<D;28Dd
%
!
TN?=S%e61G%E682:16%2%84<D;28D%74;%2DD4;<6FL1%7661%01%50776;H
6<D%7;43%4DB6;%84<D;28D1J%"D%32F%E6%501;6=2;565%07%DB6%234:<D%
YZ
%
S;DJ%//]Z
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!%M65%01%:<84<1804<2E?6%4;%:<;6214<2E?6G%84<1056;0<=%DB6%K2?:6%
47%DB6%A4;_%28843C?01B65J
%
!
_9HQNS!S%8?203%74;%2DD4;<6FL1%7661%32F%E6%2116;D65%60DB6;%
0<%DB6%K6;F%28D04<%0<%AB08B%DB6%16;K0861%0<%9:61D04<%B2K6%E66<%
;6<56;65G%4;%0<%2%16C2;2D6%28D04<J%"7%DB6%!%;1D%2?D6;<2D0K6%01%8B416<G%
DB6%84:;D%32F%C211%:C4<%1205%8?203%$5$+!'>!')%!<O*V+)!X$#$!6$%%!
)W<+!)W$!O'+'OVO!(#$%&#'@$7!EF%?2A%74;%DB6%R:;01508D04<%47%DB6%
84:;D%4K6;%DB6%1:ER68D%32DD6;%47%DB6%8216%74;%14%?4<=%21%DB6%320<%
28D04<%01%A0DB0<%DB6%R:;01508D04<%47%1205%84:;DG%:C4<%DB6%DB64;F%
DB2D%DB6%;0=BD%D4%;684K6;%2DD4;<6FL1%7661%01%E:D%2<%"-!"'(-*%47%
DB6%8216%0<%AB08B%DB6%16;K0861%47%84:<16?%B2K6%E66<%;6<56;65J%
,E<#'<!C$K$%!7$!Q*6$+)'+*!5.!B*7*>#$7*!N%&<6*+*2!$)!<6.2!?AI1;;12!
a<+.!I:2!/D10i!%$$!"<6<+&<!5.!"$&%*+2!D:!"W'6.!:/D!<+7!=<W6M$!
5.!j'+<2!;/!"W'6.!G0G8.`
(
(
@12"491(O,(^69:'(E42
S)(A,Q,(KTKL3(^62,()TSS
%
!
P-4QRS%"<%2%K2?05?F%3256%84<D;28DG%1436%C;4K0104<1%A6;6%
?2D6;% 4<% '+%$#)$7! EF% 2% 72?10!%6;J! ]%%V$S! "1% DB6% AB4?6% 84<D;28D%
K405d
%
!
TN?=S!&<?F%DB6%2550D04<2?%C;4K0104<%1B4:?5%E6%501;6=2;565G%
2<5%DB6%4;0=0<2?%D6;31%1B4:?5%E6%84<1056;65%K2?05%2<5%1:E101DH
0<=J
(
(
!&%42#4"4(O,(!&$2'4
R(J8$&,()))
(
!
P-4QRS!-%E4;;4A65%7;43%L!,\YT%2<5%2=;665%DB2D%0<%8216%
47%<4<HC2F36<D%4<%DB6%52D6%1D0C:?2D65G%-\%%B4:16%2<5%?4D%A4:?5%
E6%14?5%D4%L!74;%DB6%234:<D%47%,\YTJ%]%%V$S!"1%DB6%1D0C:?2D04<%
K2?05d
%
!
TN?=S%e61G%2<5%07%-%5461%<4D%C2FG%-%1B4:?5%16??%DB6%B4:16%
2<5%?4D%74;%,\YTJ%*B6%2=;6636<D%01%<4D%84<D;2;F%D4%?2AJ!,R$$!<6%*!
hV'd<+<!5.!C$7Ve$#'*2!;0!H.B.!I:::2!aV+$2!/D;:8.
!
!
>9HQNS!"D%16631%D4%DB6%2:DB4;%DB2D%DB6%1D0C:?2D04<%32F%
E6%84<1056;65%K405%21%E60<=%2%(<&)VO!&*OO'%%*#'VO2%:<?611%-!
E6%2??4A65G%0<1D625%47%16??0<=G%D4%16?68D%DB6%4CD04<%47%1D0??%E60<=%
0<56ED65G%A0DB%84<169:6<D02?%5232=61%4;%0<D6;61DJ@
ZT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//]Z
(
(
Q42V12(O,(^69:'([42%81
QM(S+US*3(^6&,(KL3()TRL
(
%
"7%2%34;D=2=6%01%1:E1D0D:D65%EF%2%=:2;2<DF%4;%1:;6DF%E4<5%
A0DB4:D%DB6%84<16<D%47%2??%DB6%;69:0;65%C2;D061G%DB6%84<D;28D%32F%
E6%1205%D4%E6%'O(<'#$7.
(
(
A&&'291";(O,(!="484<012
LR(J8$&,(SRS
(
!
P-4QRS%&??6<54;7G%<665?6A4;_%32<:728D:;6;G%B0;65%SE;2H
B2314<%74;!)X*%F62;1G%4<%DB6%84<50D04<%DB2D%74;%!!5$!F62;1G%DB6%
?2DD6;%1B4:?5%<4D%6<=2=6%0<%&*O($)')'5$!<665?6A4;_%32<:728D:;6J%
S7D6;%4<6%F62;G%DB6%?2DD6;%?67D%74;%;6214<1%47%B62?DBJ%.B4;D?F%27D6;H
A2;51G%27D6;%;6=20<0<=%B01%B62?DBG%B6%843C6D65%A0DB%B01%74;36;%
63C?4F6;G%AB4%<4A%166_1%D4%;61D;20<%B03%7;43%1:8B%843C6D0D04<J%
*B6%5676<52<D%2;=:61%DB2D%DB6%;61D;08D04<%01%K405G%E682:16%0D%01%
2<%:<;6214<2E?6%;61D;20<D%47%D;256J
%
!
TN?=S!*B6%2=;6636<D%A21%K2?05G%2<5%01%2%;6214<2E?6%;6H
1D;20<DG%84<1056;0<=%DB2D%0D%A21%4<?F%74;%]%F62;1J%"<213:8B%21%0D%
01%6<74;862E?6%2<5%B21%DB6%;:?6%47%?2A%E6DA66<%DB6%C2;D061G%DB6%
5676<52<D%82<%E6%C;4C6;?F%;61D;08D65J
(
(
a'"<$2$4(Q196%1(O,(@16"#(1;(!//'4&03('#(4&,
N?)X+UX3(P'=,(KR3()T+U
(
%
"7%:C4<%DB6%C;43016%47%DB6%14<H0<H?2A%47%2%16??6;G%2<%2=6<D%
16??1%4<%843301104<%2%C2;86?%47%?2<5%D4%2%E:F6;G%1205%E:F6;G%<4D%
B2K0<=%C;430165%D4%=0K6%1205%843301104<G%01%-&*%?02E?6%DB6;674;J%
,2F36<D%47%DB6%843301104<%3:1D%E6%14:=BD%7;43%AB46K6;%3256%
DB6%C;43016%D4%C2F%1:8B%234:<DG%<236?FG%DB6%14<H0<H?2A%47%DB6%
16??6;J
(
(
(
B1&4O'(B1#1"([4&'03(>2%,
O,(N4"12(429(Q'<$2$421
N?+SLXX3(B4.(KR3()TRU
(
%
PB6<%2<%63C?4F66%0<%2%82;%;6C20;%1B4C%B21%B01%4A<%82;%
;6C20;65%DB6;60<%2<5%C:;8B2161%86;D20<%1C2;6%C2;D1G%B01%?02E0?H
0DF%DB6;674;%01%=4K6;<65%EF%DB6%!0K0?%!456G%<4D%DB6%$2E4;%!456J%
Z/
%
S;DJ%//]Z
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
*B6;674;6G%0D%01%DB6%80K0?%84:;D1G%<4D%DB6%`0<01D;F%>'6C2;D36<D@%
47%$2E4;G%DB2D%B21%R:;01508D04<%4K6;%DB6%8216J
(
(
-1"%'243('#(4&,(O,(>!@
QM(X**TT3(^42,(X3()TRX
%
%
!4<D;28D1% 74;% 2DD4;<6FL1% 16;K0861% 1D2<5% :C4<% 2<% 6<D0;6?F%
50776;6<D%744D0<=%7;43%84<D;28D1%74;%DB6%C2F36<D%47%843C6<12H
D04<%74;%2<F%4DB6;%16;K0861J%S<%2DD4;<6F%01%<4D%6<D0D?65G%0<%DB6%
2E16<86%47%6MC;611%84<D;28DG%D4%;684K6;%34;6%DB2<%2%;6214<2E?6%
843C6<12D04<%74;%B01%16;K0861J%S<5%6K6<%AB6<%2<%6MC;611%84<H
D;28D%01%3256G%DB6%84:;D%82<%0=<4;6%0D%2<5%?030D%DB6%;684K6;F%47%
;6214<2E?6%843C6<12D04<%07%DB6%234:<D%47%DB6%1D0C:?2D65%766%01%
74:<5%EF%DB6%84:;D%D4%E6%:<;6214<2E?6J%*B01%01%2%K6;F%50776;6<D%
;:?6%7;43%DB2D%2<<4:<865%0<%.68J%/TZ/%47%DB6%!0K0?%!456%47%.C20<%
><4A%S;DJ%//]ZG%!0K0?%!456@%A0DB%;676;6<86%D4%DB6%4E?0=2D04<%47%
84<D;28D1%0<%=6<6;2?G%AB6;6%0D%01%1205%DB2D%1:8B%4E?0=2D04<%B21%
DB6%74;86%47%?2A%E6DA66<%DB6%84<D;28D0<=%C2;D061J
(
(
(
JD-(O,(['3(^",
X*([@!I(LKL
G)TT+H
%
%
S1% 84<D;28D1G% A2;6B4:16% ;6860CD1% 3:1D% E6% ;61C68D65% EF%
2:DB4;0DF%47%S;DJ%//]Z%47%DB6%!0K0?%!456J
%
%
S%C;04;%R:5=36<D%B4?50<=%DB2D%2%C2;DF%01%2%A2;6B4:1632<%
4E?0=2D65% D4% 56?0K6;% 1:=2;% 1D48_1% 84K6;65% EF% DB6% P2;6B4:16%
b6860CD1%5461%<4D%<686112;0?F%82;;F%A0DB%0D%2%56<02?%47%DB6%A2;6H
B4:1632<L1%?06<%4K6;%DB6%1236%1:=2;%1D48_1J%(K6<%0<%DB6%2E16<86%
47%2%C;4K0104<%0<%DB6%P2;6B4:16%b6860CD1G%?2A%2<5%69:0DF%508D2D6%
DB6%C2F36<D%47%DB6%A2;6B4:1632<L1%?06<%C:;1:2<D%D4%.68D04<1%
Na%2<5%Q/%47%DB6%P2;6B4:16%b6860CD1%$2AJ
%
%
S%C2;DF%01%0<%61D4CC6?%0<%5018?2030<=%?02E0?0DF%74;%DB6%C2FH
36<D%47%1D4;2=6%7661%5:6%DB6%A2;6B4:1632<%AB0?6%8?2030<=%D4%
E6%6<D0D?65%D4%DB6%1:=2;%1D48_1%84K6;65%EF%DB6%1:ER68D%P2;6B4:16%
b6860CD1%4<%DB6%E2101%47%AB08B%0D%2<8B4;1%0D1%8?203%74;%C2F36<D%
4;%56?0K6;F%47%DB6%1:=2;%1D48_1J%"3C6;2D0K6%01%DB6%;0=BD%47%DB6%
A2;6B4:1632<%D4%5632<5%C2F36<D%47%B01%?06<%E682:16%B6%?4161%
B01%?06<%:C4<%=4451%EF%1:;;6<56;0<=%C41161104<%DB6;647J
ZN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//UT
G+H( E8'([1?%4&&'9(>221<$24#'(@12#"4%#0
%
%
)4;% A2<D% 47% 2<% 6MC;611% <236G% DB6% 74??4A0<=% 2;6% D6;365%
k&*+)#<)*%!'++*O'+<7*%mS
>2@% =*!V)!7$%%h%"%=0K6%DB2D%F4:%32F%=0K6J
>E@% =*!V)!><&'<%%h%"%=0K6%DB2D%F4:%32F%54J
>8@%
P<&'*!V)!7$%%h%"%54%DB2D%F4:%32F%=0K6J
>5@% P<&'*!V)!><&'<%%h%"%54%DB2D%F4:%32F%54J
%
!
NJ<O(6$S!-%A4;_65%74;%L%21%0<D6;C;6D6;J%(K6<%A0DB4:D%2<%
6MC;611%2=;6636<D%21%D4%843C6<12D04<G%-%01%6<D0D?65%D4%843C6<H
12D04<%E682:16%47%><&'*!V)!7$%%h%"%54%DB6%0<D6;C;6D0<=%DB2D%F4:%
32F%=0K6%DB6%34<6FJ%,"$#$d!5.!"*O<#2!I!"W'6.!13I8.
(
(
e$%'2#'(!&94=4(O,(@16"#(1;(!//'4&03('#(4&,
N?K)+X+3(P'=,(KR3()T+T
(
!
P-4QRS% ';J% #086<D6% S?52E2% 2<5% B01% 52:=BD6;G% ';J% ^2<6%
S?52E2G% ;6<56;65% 16;K0861% D4% O6?6<% S?52E2G% 2% ;08B% A432<% 47%
`2?4?41G%O:?282<%74;%/T%F62;1%A0DB4:D%;6860K0<=%2<F%843C6<12H
D04<J%"D%A21%2530DD65%DB2D%74;%1:8B%16;K0861G%DB6%DA4%548D4;1%505%
-&*%6MC68D%D4%E6%C205J%]%%V$%S!P21%DB6;6%2%84<D;28DG%AB6DB6;%
6MC;611%4;%03C?065d%P21%O6?6<%4E?0=65%D4%843C6<12D6%DB6%DA4%
548D4;1d
%
!
TN?=S%*B6;6%A21!+*%84<D;28DG%AB6DB6;%6MC;611%4;%03C?065G%
2<5%DB6;674;6%O6?6<%A21%+*)!4E?0=65%D4%843C6<12D6%DB6%)X*!548H
D4;1W%+*%6MC;611%84<D;28DG%74;%<4DB0<=%4<%DB01%C40<D%A21%2=;665%
:C4<W% 2<5% +*% 03C?065% 84<D;28DG% 74;% DB6% 548D4;1% 505% +*)! $J($&)%
D4%E6%C205%74;%DB60;%16;K0861J%PB6<%2%C6;14<%5461%<4D%6MC68D%D4%
E6%C205%74;%B01%16;K0861G%DB6;6%82<<4D%E6%2%84<D;28D%03C?065%0<%
728D%D4%=0K6%843C6<12D04<%74;%1:8B%16;K0861J%*4%=0K6%;016%D4%2<%
03C?065% 84<D;28D% D4% C2F% 74;% 16;K0861G% 1205% 16;K0861% 3:1D% B2K6%
E66<%;6<56;65%EF%4<6%C2;DF%0<%6MC68D2D04<%DB2D%DB6%4DB6;%C2;DF%
A4:?5%C2F%74;%DB63%2<5%3:1D%B2K6%E66<%2886CD65%EF%DB6%4DB6;%
C2;DF%A0DB%_<4A?65=6%47%DB2D%6MC68D2D04<J%,R$$!;3!-O.!aV#.2!(.!
;/I2!<+7!)W$!&<%$%!&')$7!)W$#$'+8.
(
!"#,())+*,(A=&$:4#$120(9'"$O'9(;"1<(5640$?%12#"4%#0(084&&(
='(06=_'%#(#1(#8'(/"1O$0$120(1;(@84/#'"()3(E$#&'(me>>3(1;(#8$0(
-11\,
ZQ
%
S;DJ%//UT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
@ABBCDEF
G)H( Y]640$?@12#"4%#Z(I'!(2'9
%
%
S%9:210H84<D;28D%01%DB2D%R:;05082?%;6?2D04<%;61:?D0<=%7;43%
2%?2A7:?G%K4?:<D2;FG%2<5%:<0?2D6;2?%28DG%2<5%AB08B%B21%74;%0D1%
C:;C416%DB6%C2F36<D%47%0<563<0DF%D4%DB6%6<5%DB2D%+*!*+$!%W<66!
@$!V+UV%)6K!$+#'&W$7!*#!@$+$!!)$7!<)!)W$!$J($+%$!*>!<+*)W$#.!,R$$!
-#).!I/:I2!4'5'6!4*7$8.
GKH( E8'(K(J"$2%$/4&(l$290
>2@% +$e*)'*#VO!e$%)'*!>:<2:DB4;0[65%32<2=636<D@
>E@% %*6V)'*!'+7$@')'%>:<5:6%C2F36<D@
GLH( D':1#$1"6<(Q'0#$1
%
%
*B01%D2_61%C?286%AB6<%2%C6;14<%5*6V+)<#'6K!D2_61%8B2;=6%47%
2<4DB6;L1%2E2<54<65%E:10<611%4;%C;4C6;DF%X')W*V)%DB6%4A<6;L1%
2:DB4;0DFJ%,-#).!I/::2!4'5'6!4*7$8J%b603E:;1636<D%3:1D%E6%3256%
D4%DB6%e$%)*#!74;%<686112;F%2<5%:167:?%6MC6<161G%21%2%;:?6J%,R$$!
-#).!I/;02!4'5'6!4*7$8.
GUH( [1&6#$1(>29'=$#$
%
%
*B01%D2_61%C?286%AB6<%1436DB0<=%01%;6860K65%AB6<%DB6;6%
01%<4%;0=BD%D4%5632<5%0DG%2<5%0D%A21%:<5:?F%56?0K6;65%DB;:%301H
D2_6J%*B6%;680C06<D%B21%DB6%5:DF%D4%;6D:;<%0DJ%>NJ<O(6$S%"7%"%?6D%
2%1D4;6_66C6;%8B2<=6%3F%,]TJTT%E0??%2<5%EF%6;;4;%B6%=0K61%36%
,]TJUTG% "% B2K6% DB6% 5:DF% D4% ;6D:;<% DB6% 6MD;2% ,TJUT@J% ,R$$! -#).!
I/;:2!4'5'6!4*7$8.
(
(
@$#.(1;(@'=6(O,(J$%%$1(429(@4=4&&'"1
N?)L*)K(429()URX+3(I'%,(L)3()T+*
(
!
P-4QRS!!2E2??6;4G%2<%63C?4F66%47%DB6%!0DF%47%!6E:%AB4%
B21% E66<% '66$e<66K% 501301165G% 1:65% 74;% @<&MX<e$%% EF% A2F% 47%
32<523:1%2<5%3256%21%5676<52<D1%DB6;6D4%DB6%!0DF%`2F4;G%DB6%
`:<080C2?%O42;5G%DB6%!0DF%*;621:;6;G%2<5%DB6%!0DF%S:50D4;%47%
!6E:%!0DFG%Oc*%DB6%!0DF%47%!6E:%0D16?7%A21%<4D%3256%2%5676<5H
2<DJ%PB6<%!2E2??6;4%A21%?2D6;%(<'7G%DB6%!0DF%47%!6E:%E;4:=BD%
2<%28D04<%74;%DB6%b()c-'%47%DB6%C2F36<D%4<%DB6%=;4:<5%DB2D%
Z\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//UT
DB6%C2F36<D%A21%0??6=2?%E682:16%DB6%!0DF%47%!6E:%B25%-&*%E66<%
3256%2%C2;DF%D4%!2E2??6;4L1%O<+7<OV%%8216J
%
!
TN?=S!*B6%!0DF%47%!6E:%!S--&*%;684K6;J%*B6%8?203%74;%
;67:<5%01%C;65082D65%4<%k%*6V)'*!'+7$@')'.m%*B6%;69:010D61%74;%DB01%
2;6I%>2@%B6%AB4%C205%A21%-&*%:<56;%4E?0=2D04<%D4%54%14W%>E@%DB6%
C2F36<D%A21%3256%EF%;6214<%47%2<%6116<D02?%301D2_6%47%728DJ%
*B616%;69:010D61%2;6%-&*%C;616<D%E682:16%!2E2??6;4%B21%2%;0=BD%
D4% E6% C205% 2<5% <4% 301D2_6% A21% 3256J% *B6% 728D% DB2D% DB6% !0DF%
0D16?7%A21%-&*%2%C2;DF%01!'OO<)$#'<6%74;%2%R:5=36<D%2=20<1D%2%
OV+'&'(<6!*>!!&$#2%1:65%0<%B01%*>!!&'<6!82C280DFG%O"-'.%DB6%!0DFJ%
*B6%28D1%47%DB6%5:?F%2:DB4;0[65%47!%802?1%@'+7%DB6%C;0<80C2?%h%DB6%
80DFJ
(
(
d[E(@11/'"4#$O'([#1"'(O,(@$#.(1;(B42$&43('#(4&,
N?)X)LL3(I'%,(L)3()T+S
(
!
P-4QRS%*B6%c.*%!44C6;2D0K6%.D4;6G%AB08B%01%D2MH6M63CD%
:<56;%bS%NTNQ%>*B6%,B0?0CC0<6%-4<HS=;08:?D:;2?%!44C6;2D0K6%
S8D@%E682:16%0D1%2116D1%2;6%<4D%34;6%DB2<%,]TTGTTT%(<'7!)<J$%!D4%
DB6%!0DF%47%`2<0?2G%<4D%_<4A0<=%DB2D%0D%A21%D2MH6M63CDJ%]%%V$S!
`2F%0D%1:886117:??F%21_%74;%2%#$>V+7d
!
!
TN?=S! e61G% E682:16% DB6% C2F36<D% 01% <4D% 84<1056;65% K4?H
:<D2;F%0<%8B2;28D6;J%!?62;?FG%DB6%C2F36<D%A21%3256%:<56;%2%
301D2_6J%,R$$!;/!-O.!aV#.!/0IF8.
GSH( ]6'".F(>0(4(]640$?@12#"4%#(42(></&$'9(@12#"4%#g
(
!
-9R.S!-4G%E682:16%0<%2%9:210H84<D;28D%>:<?0_6%0<%2<%03C?065%
84<D;28D@%DB6;6%01%-&%366D0<=%47%DB6%30<51J
G+H( A#8'"(Cb4</&'0(1;(]640$?@12#"4%#0
>2@% PB6<%5:;0<=%2%!%;6G%"%445G%4;%4DB6;%82?230DFG%C;4C6;DF%01%
12K65% 7;43% 561D;:8D04<% EF% 2<4DB6;% C6;14<% A0DB4:D% DB6%
_<4A?65=6% 47% DB6% 4A<6;G% DB6% ?2DD6;% 01% E4:<5% D4% C2F% DB6%
74;36;%R:1D%843C6<12D04<J%,-#).!I/132!4'5'6!4*7$8.
>E@% S<F%C6;14<%AB4%01%&*+%)#<'+$7%D4%C2F%DB6%D2M61%47%2<4DB6;%
1B2??%E6%6<D0D?65%D4%;603E:;1636<D%7;43%DB6%?2DD6;J%,-#).!
I/G;2!4'5'6!4*7$8.
Z]
%
S;DJ%//U/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GXH( D1(d2_60#(C2"$%8<'2#
(
(
N$"4:(E'b#$&'(B$&&03(>2%,(O,(M'/4"4#$120(@1<<$00$12
XT([@M!(+XS
(
%
"7% DB6% C;086% 47% 86;D20<% =4451% 01% 56D6;30<65G% 84<1056;0<=%
DB6%;2D6%47%6M8B2<=6%2D%DB6%D036%47%0D1%C;48:;636<DG%DB6;6%01%<4%
:<R:1D%6<;08B36<D%0<K4?K65J
(
!"#,())+),(@$O$&(1=&$:4#$120(4"$0$2:(;"1<(%"$<$24&(1;;'20'0(
084&&(='(:1O'"2'9(=.(#8'(/'24&(&4703(06=_'%#(#1(#8'(/"1O$0$120(
1;(!"#$%&'(K)XX3(429(1;(#8'(/'"#$2'2#(/"1O$0$120(1;(@84/#'"(K3(
J"'&$<$24".(E$#&'3(12(a6<42(M'&4#$1203(429(1;(E$#&'(me>>>(1;(
#8$0(-11\3("':6&4#$2:(94<4:'0,
@ABBCDEF
G)H( A=&$:4#$120(Cb(I'&$%#1(1"(Cb(B4&'!(%$1
%
%
f4K6;<0<=%;:?61%>OSb%mc(.*"&-@
>2@% ,6;D0<6<D%C;4K0104<1%47%DB6%b6K0165%,6<2?%!456%2<5%4DB6;%
C6<2?% ?2A1G% 1:ER68D% D4% DB6% C;4K0104<1% 47% S;DJ% N/aaG% !0K0?%
!456J
>E@% !B2CD6;%NG%,;6?030<2;F%*0D?6G%4<%+:32<%b6?2D04<1%>47%DB6%
!0K0?%!456@J
>8@%
*0D?6%/Y%47%O44_%"#%47%DB6%!0K0?%!456%h%4<%7<O<e$%J
(
(
-49$12:(O,(^69:'(!/4&$01\
QM(+*)S)3(^62,(KU3()TRL
%
%
S?DB4:=B% DB6% 5676<52<D% 0<% 2% 8;030<2?% 8216% B21% 2?;625F%
C?62565%=:0?DFG%2<5%B21%!%?65%2<%2CC?082D04<%74;%C;4E2D04<G%DB6%
84:;D%1B4:?5%1D0??%16D%DB6%8216%74;%B62;0<=%D4%;6860K6%DB6%4776<565%
C2;DFL1%6K056<86%4<%DB6%80K0?%?02E0?0DF%47%DB6%288:165J%"7%DB01%A4:?5%
<4D%E6%54<6G%DB6%4776<565%C2;DF%A0??%E6%56<065%5:6%C;48611J
GKH( J'"#$2'2#(J"1O$0$12(1;(#8'(M'O$0'9(J'24&(@19'
(
%
S;DJ%/TTG%bJ,J!J%12F1I%V(K6;F%C6;14<%8;030<2??F%?02E?6%74;%
2%76?4<F%01%2?14%80K0??F%?02E?6JX%*B6%;6214<%?061%0<%DB6%728D%DB2D%
ZU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//U/
47D6<D0361%DB6%843301104<%47%2%8;036%82:161%<4D%4<?F%34;2?%6K0?%
E:D%2?14%32D6;02?%5232=6J%"7%<4%32D6;02?%5232=6%01%54<6G%80K0?%
?02E0?0DF%82<<4D%E6%6<74;865J%,R$$!-6@$#)2!C$5.!"$+<6!4*7$2!j*6.!
]2!((.!:0GA:038.
(
(
C&%421(O,(a$&&
XX([@M!(TR
(
%
S<% 288:165% 0<% 2% 8;030<2?% 8216% 32F% E6% 1:65% !"#"$$e%
AB6DB6;%4;%<4D%B6%01%74:<5%=:0?DF%4;%01%289:0DD65J%O:D%DB6%K08D03%
82<<4D%;684K6;%5232=61%0<%E4DB%82161%>4<?F%0<%4<6@J
GLH( N$4=$&$#.(1;(42(>2042'(@"$<$24&
(
%
S<% 0<12<6% 32<% AB4% 84330D1% 2% 8;036% 01% 6M63CD65% 7;43%
8;030<2?% ?02E0?0DFG% E:D% B01% =:2;502<% 82<% E6% B6?5% 80K0??F% ?02E?6%
:<?611%DB6%?2DD6;%A21%50?0=6<D%0<%B01%D21_%47%D2_0<=%82;6%47%DB6%
0<12<6J%"7%DB6;6%01%<4%=:2;502<G%4;%07%1205%=:2;502<%>0<%DB6%C;4C6;%
8216@%01%0<14?K6<DG%DB6%C;4C6;DF%47%DB6%0<12<6%32<%82<%E6%3256%
?02E?6J%,R$$!-#)%.!/I!<+7!/0/2!C.".4.8.
GUH( @40'
(
(
[4&'0(O,(-4&%'
N?)UU)U3(!/",(KX3()T+*
!
!
P-4QRS%*B6%14<%47%DB6%C?20<D077%A21%_0??65%EF%DB6%30<4;%
14<%>E6?4A%/]@%47%DB6%5676<52<DJ%*B6%14<%AB4%28D65%A0DB%50186;<H
36<D%A21%84<K08D65G%E:D%B25%<4%34<6FJ%]%%V$S!S;6%B01%C2;6<D1%
1:E10502;0?F%?02E?6d
%
!
TN?=S% S;DJ% /T/% 47% DB6% b6K0165% ,6<2?% !456% C;618;0E61%
DB6%1:E10502;F%?02E0?0DF%47%DB6%C2;6<D1%0<%8216%47%2%30<4;%4K6;%Z%
E:D%:<56;%/]%AB4%'"'%-&*%28D%A0DB%50186;<36<DJ%"7%B6%28D65%
P"*+%50186;<36<DG%DB6%b6K0165%,6<2?%!456%01%10?6<D%E682:16%B6%
01%8;030<2??F%?02E?6J%"<%DB2D%8216G%;614;D%01%3256%D4%DB6%=6<6;2?%
?2A%AB08B%01%DB6%!0K0?%!456G%S;DJ%NTYT%47%AB08B%2CC?061J%c<56;%
1205%S;D08?6G%DB6%C2;6<D1%A4:?5%E6%B6?5%?02E?6%:<?611%DB6F%82<%
C;4K6%5:6%1:C6;K0104<J%*4%B4?5%DB2D%DB6%!0K0?%!456%5461%<4D%2CH
C?F%E682:16%0D%84K6;1%4<?F%4E?0=2D04<1%2;010<=%7;43%<6=?0=6<86%
4;%YV<%'A7$6'&)%%A4:?5%;61:?D%0<%2<%SO.cb'"*e%74;G%AB0?6%0<%2%
<6=?0=6<D%28DG%DB6%C2;6<D1%2;6%1:E10502;0?F%?02E?6%74;%DB6%5232=6%
Za
%
S;DJ%//U/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
82:165%EF%DB60;%14<G%<4%?02E0?0DF%A4:?5%2DD28B%07%DB6%5232=6%01%
82:165%A0DB%8;030<2?%0<D6<DJ%"D%01%8?62;G%DB6;674;6G%DB2D%2CC?FH
0<=%S;DJ%NTYT%47%DB6%!0K0?%!456G%DB6%C2;6<D1%A4:?5%4;50<2;0?F%E6%
?02E?6J
GSH( `84#(@$O$&(N$4=$&$#.(!"$0$2:(;"1<(4(@"$<'(>2%&69'0
>2@% ;61D0D:D04<W
>E@% ;6C2;2D04<%47%DB6%5232=6%82:165W
>8@%
0<563<0!%82D04<%74;%84<169:6<D02?%5232=61J%,-#).!/0:2!C$5.!
"$+<6!4*7$8.
%
!
>9HQNS!"<%DB6%8216%47%"$*(6$!5.!C*7#'eV$d2!BC!?A1;DI2!
aV6K!ID2!/D;12%0D%A21%B6?5%DB2D%07%2%8;030<2?%01%84<K08D65%
X')W*V)!DB6%84:;D%568?2;0<=%B01%80K0?%?02E0?0DF%2<5%B6%03H
36502D6?F%&*OO$+&$%%16;K0<=%16<D6<86G%DB6%84:;D%32F%1D0??%
=;2<D%0<563<0DFG%:C4<%34D04<%47%DB6%K08D03G%Q%52F1%27D6;%
DB6%8;030<2?%E6=2<%D4%16;K6%16<D6<86G%E682:16%DB6%R:5=36<D%
B21%<4D%F6D%E68436%!%<2?G%74;%DB6%C6;045%D4%2CC62?%W<%%<4D%
F6D%C;618;0E65J%"<%<+*)W$#!8216G%"$*(6$!5.!E*%)<%$%<2!BC!
?A;13:2!a<+.!II2!/D;:2%0D%A21%B6?5%DB2D%07%2%C6;14<%84330D1%
2%8;036%EF%D2_0<=%1436DB0<=G%B6%&<++*)!5018B2;=6%B01%80K0?%
?02E0?0DF%EF%4776;0<=%D4%=0K6%2%%'O'6<#!DB0<=J%+6%3:1D%C2F%
DB6%(#'&$G%74;%DB6%80K0?%?02E0?0DF%2;010<=%7;43%2%8;036%01%<4D%
=4K6;<65%EF%DB6%!0K0?%!456%E:D%EF%S;D1J%/TTH///G%b6KJ%,6<2?%
!456J@
G+H( C;;'%#(1;(!::"4O4#$2:(429(B$#$:4#$2:(@$"%6<0#42%'0
%
%
"<%8;0361G%DB6%5232=61%D4%E6%25R:5082D65%32F%E6G%;61C68H
D0K6?FG% '+&#$<%$7! 4;% 6$%%$+$7% 2884;50<=% D4% DB6% 2==;2K2D0<=% 4;%
30D0=2D0<=%80;8:31D2<861J%,-#).!II0:2!4'5'6!4*7$8.
GXH( I4<4:'0($2(@40'(1;(I'4#8
(
%
"<%2550D04<%D4%4DB6;%5232=61G%07%2%8;036%;61:?D1%0<%562DBG%
S;DJ%NNTU%47%DB6%!0K0?%!456%1D2D61%DB2D%2D%?621D%DB;66%DB4:12<5%
C6141%3:1D%E6%=0K6<%D4%DB6%B60;1%47%DB6%K08D03J%+4A6K6;G%1205%
30<03:3%234:<D%B21%<4A%E66<%;20165%D4%,]TGTTT%0<%K06A%47%
DB6%568;6210<=%K2?:6%47%DB6%C614J%>$411%47%62;<0<=%82C280DF%2<5%
34;2?%5232=61G%234<=%4DB6;%DB0<=1G%1B4:?5%E6%=0K6<J@
ZY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//U/
GRH( @$O$&(!%#$12(></&$%$#&.(>20#$#6#'9($2(@"$<$24&(@40'
(
%
S1%2%e$+$#<6!#V6$2!AB6<6K6;%2%8;030<2?%28D04<%01%0<1D0D:D65G%
DB6%80K0?%28D04<%74;%DB6%80K0?%?02E0?0DF%01%2?14%03C?065?F%0<1D0D:D65%
D4=6DB6;%A0DB%DB6%8;030<2?%28D04<J%,R$$!CV6$!F2!R$&.!/2!C$5'%$7!
CV6$%!*>!4*V#)8.
GTH( C;;'%#(1;(I'4#8(1;(#8'(@"$<$24&(A;;'29'"(J'29$2:(E"$4&
(
(
-6'24O'2#6"4(-'&4<4&4(O,(B4"%'&$21(J1&$24"
N?KU*TR3(D1O,()R3()T+X
(
!
P-4QRI% *B6% 5676<52<D% 0<% 2% 8;030<2?% 8216% 74;% CBF1082?%
0<R:;061%5065%E674;6%!%<2?%R:5=36<DJ%]%%V$S%"1%B01%80K0?%?02E0?0DF%
6MD0<=:01B65d
!
!
TN?=S%-4G%B01%80K0?%?02E0?0DF%01%<4D%6MD0<=:01B65%74;G%27D6;%
2??G%0<%S;DJ%QQ%47%DB6%!0K0?%!456G%DB6;6%82<G%0<%DB6%8216%47%CBF1082?%
0<R:;061G%1D0??%E6%2<%0<56C6<56<D%80K0?%28D04<J%*B6%28D04<%A0??%E6%
50;68D65%2=20<1D%DB6%2530<01D;2D4;%47%DB6%61D2D6G%DB6%4E?0=2D04<%
B2K0<=% E68436% DB6% 4E?0=2D04<% 47% DB6% B60;1W% E:D% 47% 84:;16% DB6%
?02E0?0DF%82<<4D%6M8665%DB6%K2?:6%47%DB6%0<B6;0D2<86J%,-#).!GG:2!
4'5'6!4*7$8J%"<8056<D2??FG%21%2?;625F%1205G%DB6%;6365F%01%2<%28D04<%
2=20<1D%DB6%2530<01D;2D4;G%2<5%+*)%36;6?F%2%8?203%2=20<1D%DB6%
61D2D6J%*B6%;6214<%01%E682:16%DB6%C:;C416%01%D4%;684K6;%5232=61%
74;%2<%0<R:;F%D4%($#%*+%4;%C;4C6;DF%>B6<86G%6MD;2H84<D;28D:2?%21%
0D% 2;416% 7;43% 60DB6;% 2% 8;036% 4;% 2% D4;D@J% ,R$$! -eV<%! 5.! ?6$O*%2!
?A/3/0G2!-Ve.!F02!/D1I8.!+25%DB6%?02E0?0DF%E66<%84<D;28D:2?G%2%
36;6%8?203%2=20<1D%DB6%61D2D6%A4:?5%B2K6%1:7!%865J%,R$$!?$V+e!
L$+!5.!H\L#'$+2!F3!"W'6.!/3I8.
(
(
N4<='"#1(E1""$_10(O,(@16"#(1;(!//'4&0
N?U*LL+3(A%#,(KU3()TXS
(
!
P-4QRS%"<%/ZU\G%*4;;0R41%C:;8B2165%2%?4D%7;43%'023<:2<J%
$2D6;G%*4;;0R41%?62;<65%DB2D%0<%/ZUZG%'023<:2<%14?5%DB6%1236%
?4D%D4%'6%f:02J%*4;;0R41%0<0D02D65%2<%61D272%843C?20<D%2=20<1D%
DB6%16??6;G%AB4%A21%6K6<D:2??F%84<K08D65%EF%DB6%!)"%><4A%b*!@J%
':;0<=%DB6%C6<56<8F%47%DB6%8216%0<%DB6%!4:;D%47%SCC62?1G%DB6%
288:165%'023<:2<%5065J%+01%?2AF6;%!%?65%2%34D04<%D4%503011%DB6%
8216%2??6=0<=%DB2D%DB6%562DB%47%B01%8?06<DG%C;04;%D4%!%<2?%R:5=36<DG%
6MD0<=:01B65% E4DB% DB6% C6;14<2?% 2<5% DB6% C68:<02;F% C6<2?D061J%
ZZ
%
S;DJ%//U/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
]%%V$S%"1%DB6%80K0?%?02E0?0DF%2?14%6MD0<=:01B65d%.B4:?5%DB6%8216%
E6%501301165d
%
!
TN?=S!*B6%80K0?%?02E0?0DF%B6;6%01%<4D%6MD0<=:01B65G%E682:16%
'+7$($+7$+)6K!47%DB6%8;030<2?%8216G%DB6%288:165%A21%80K0??F%?02E?6%
D4%*4;;0R41J%"7%27D6;%;6860K0<=%DB6%C:;8B216%C;086%7;43%*4;;0R41G%B6%
720?65%D4%56?0K6;%DB6%C;4C6;DF%>6K6<%E674;6%16??0<=%0D%2=20<%D4%'6%
f:02@G%DB6;6%A4:?5%21%F6D%E6%<4%61D272G%E:D%DB6;6%01%<4%9:61D04<%
47%B01%80K0?%?02E0?0DF%DB;:%2<%28D04<%EF%*4;;0R41%60DB6;%74;%1C680!%8%
C6;74;32<86%C?:1%5232=61G%4;%;61801104<%C?:1%5232=61J%'62DB%
01%<4D%2%K2?05%82:16%74;%DB6%6MD0<=:01B36<D%47%2%80K0?%4E?0=2D04<J%
+25%DB6%4<?F%E2101%E66<%DB6%843301104<%47%61D272G%0D%01%8?62;%DB2D%
DB6% 6MD0<=:01B36<D% 47% DB6% 8;030<2?% ;61C4<10E0?0DF% A4:?5% 2?14%
6MD0<=:01B%DB6%80K0?%?02E0?0DFG%C;4K0565%DB2D%562DB%84361%E674;6%
!%<2?%R:5=36<DJ
%
%
):;DB6;34;6G%:<56;%S;D1J%/ZG%NTG%2<5%N/%47%DB6%!0K0?%!456G%
DB6%288:165%A4:?5%E6%80K0??F%?02E?6%0<56C6<56<D?F%47%DB6%8;030<2?%
?02E0?0DF%74;%AB08B%B6%82<%E6%B6?5%?02E?6J%S<5%DB01%80K0?%?02E0?0DF%
6M01D1%561C0D6%562DB%C;04;%D4%!%<2?%R:5=36<D%47%84<K08D04<J
%
%
*B6%8216G%DB6;674;6G%82<<4D%21%F6D%E6%501301165J
G)*H( l$29(1;(J"11;(D''9'9
>2@% "7%2%&'5'6!28D04<%36;6?F%01%0<1D0D:D65G%36;6%C;6C4<56;2<86%
47%6K056<86%01%1:7!%806<DJ
>E@% "7%2%&#'O'+<6%8216%01%E;4:=BD%>2<5%A0DB%0DG%DB6%80K0?%8216@G%
DB6%=:0?D%3:1D%E6%61D2E?01B65%EF%C;447%@$K*+7!#$<%*+<@6$%
7*V@).
G))H( C;;'%#(1;(!%56$##4&($2(@"$<$24&(@40'
(
%
.:CC416%2%5676<52<D%0<%2%8;030<2?%8216%01%<&YV'))$72%82<%
B6%1D0??%E6%B6?5%?02E?6%&'5'66Kd
%
!
-9R.S!"D%56C6<51J
>2@% "7%DB6%;6214<%ABF%DB6;6%A21%2<%289:0DD2?%A21%E682:16%DB6%
288:165%&*V67!+*)!B2K6%84330DD65%DB6%28D%>21%AB6<%B6%A21%
0<%2<4DB6;%84:<D;F%2D%DB6%D036%B6%A21%1:CC4165%D4%B2K6%
3:;56;65%1436E45F%0<%DB6%,B0?0CC0<61@G%<4%80K0?%28D04<%82<%
?2D6;%4<%E6%E;4:=BDJ
>E@% "7%DB6%;6214<%74;%DB6%289:0DD2?%A21%E682:16%47%2<%$J$O()'+e!
&'#&VO%)<+&$%>21%0<%DB6%8216%47%2<%0<12<6%5676<52<D@G%B6%
/TT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//U/
A4:?5%%)'66!E6%80K0??F%?02E?6%>07%B6%B21%<4%=:2;502<G%4;%07%DB6%
=:2;502<%AB4%32F%:<56;%DB6%80;8:31D2<86%E6%4;50<2;0?F%
?02E?6G%01%0<14?K6<D@J
>8@%
"7%DB6;6%01%2<%'+7$($+7$+)!&'5'6!<&)'*+%2??4A65%EF%DB6%?2AG%
80K0?%?02E0?0DF%32F%1D0??%<#'%$%07%DB01%28D04<%01%0<1D0D:D65%2<5%
DB6%5676<52<DL1%?02E0?0DF%01%C;4K65%EF%O$#$!(#$(*+7$#<+&$!
*>!$5'7$+&$!>E682:16%AB0?6%=:0?D%E6F4<5%;6214<2E?6%54:ED%
30=BD%<4D%B2K6%E66<%C;4K65G%0D%A4:?5%E6%2%%'O(6$#%32DD6;%
D4%C;4K6%=:0?D%EF%36;6%C;6C4<56;2<86%47%6K056<86@J
(
(
@1([42(O,(I$"'%#1"(1;(J4#'2#03('#(4&,
N?)*S+L3(P'=,(KL3()T+)
(
%
S% R:5=36<D% 47% 289:0DD2?% 0<% 2% 8;030<2?% 28D04<% 74;%
>#<V7V6$+)!#$e'%)#<)'*+!*>!<!)#<7$O<#M%0<%K04?2D04<%47%.68J%
/Y%47%S8D%-4J%UUUG%&<++*)!E6%0<K4_65%21%#$%%UV7'&<)<%0<%2%
80K0?%28D04<%E2165%4<%V+><'#!<+7!O<6'&'*V%!&*O($)')'*+!4<%
DB6% =;4:<5% DB2D% DB6% 728D1% 47% DB6% ?2DD6;% 2;6% 50776;6<D% 2<5%
B2K6%<4D%E66<%C21165%:C4<%0<%DB6%R:5=36<D%;6<56;65%0<%
DB6%74;36;%8216J%,R$$!HeV#<!5.!4WV<!<+7!4*+>$%*#2!;0!"W'6.!
:G/8.
G)KH( Cb4</&'(1;(>29'/'29'2#(@$O$&(!%#$120
%
%
V"<% 82161% 47% 7$><O<)'*+! >?0E6?G% 1?2<56;@G% >#<V7! >61D272G%
56860D@G%2<5%(WK%'&<6!'+UV#'$%!>0<8?:50<=%2DD63CD65G%7;:1D;2D65G%
4;% 84<1:332D65% B4308056G% 3:;56;G% C2;;080561% 4;% 0<72<D08056@%
2%&'5'6!<&)'*+%74;%5232=61G%6<D0;6?F%%$(<#<)$!2<5%7'%)'+&)%7;43%
DB6% 8;030<2?% 28D04<% 32F% E6% E;4:=BD% EF% DB6% 0<R:;65% C2;DF% >4;%
B01%B60;1@J%.:8B%80K0?%28D04<%1B2??%C;48665%0<56C6<56<D?F%47%DB6%
8;030<2?%C;4168:D04<G%2<5%1B2??%;69:0;6%4<?F%2%C;6C4<56;2<86%
47%6K056<86JX%,-#).!FF2!4'5'6!4*7$8.
G)LH( C;;'%#(1;(M'0'"O4#$12(1;(#8'(@$O$&(!0/'%#
(
(
(
^1O'2%$1(N6420$2:(O,(J'1/&'(1;(#8'
J8$&$//$2'0(W(@16"#(1;(!//'4&0
N?KLKRT3(P'=,(KR3()T+T
(
!
P-4QRS%"<%2%8;030<2?%28D04<%74;%165:8D04<G%DB6%4776<565%
C2;DF%6MC;611?F%;616;K65%DB6%;0=BD%D4%!%?6%2%16C2;2D6%80K0?%28D04<J%
/T/
%
S;DJ%//U/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
*B6%!)"%><4A%b*!@%74:<5%DB6%288:165%=:0?DFG%2<5%03C4165%80K0?%
?02E0?0D061J% -4% 34D04<% 74;% ;684<1056;2D04<% A21% !%?65% EF% DB6% 47H
76<565%C2;DFJ%]%%V$S%P21%DB6%03C410D04<%47%80K0?%?02E0?0DF%C;4C6;G%
561C0D6%DB6%;616;K2D04<d
%
!
TN?=S! -4G% DB6% 03C410D04<% 47% DB6% 80K0?% ?02E0?0DF% A21% <4D%
C;4C6;%E682:16I
>2@% DB6;6%A21%DB6%;616;K2D04<%21%D4%DB6%80K0?%21C68DW
>E@% DB6%36;6%720?:;6%D4%!%?6%2%34D04<%74;%;684<1056;2D04<%5461%
<4D%<686112;0?F%;61:?D%0<%A20K6;%4;%2E2<54<36<DJ%SE2<54<H
36<D%;69:0;61%2%34;6%84<K0<80<=%9:2<D:3%47%6K056<86%DB2<%
36;6%74;E62;2<86%D4%28D:2??F%!%?6%DB6%80K0?%28D04<G%61C6802??F%
AB6<%A6%84<1056;%DB6%728D%DB2D%DB6%1236%84:?5%E6%!%?65%6K6<%
27D6;%DB6%5680104<%0<%DB6%8;030<2?%8216%B25%E66<%;6<56;65W
>8@%
C;447%1B4:?5%E6%=0K6<%A0DB%;61C68D%D4%DB6%234:<DJ
G)UH( >0(E8'"'(D''9(1;(B4\$2:(4(M'0'"O4#$12(1;(#8'(@$O$&(@40'(
G`8'"'(#8'(N47(Q"42#0(42(012.3.12.14!5&%&*!674&$1H($;(4(
@"$<$24&(@40'($0(P$"0#(-"16:8#(#1(@16"#g
%
%
c<56;%b:?6%///G%.681J%/%2<5%Q%47%DB6%-6A%b:?61%4<%!;030H
<2?%,;4865:;6G%DB6%2<1A6;%01%e(.J%"<%DB6%8216%47%B<#&'<2!$)!<6.!
5.!aV7e$!P6*#'7*2!?AF;0D;2!-Ve.!F/2!/DGF2!DB6%!4:;D%;:?65%DB2D%
AB0?6%2%;616;K2D04<%01%0<5665%;69:0;65G%DB6%;616;K2D04<%<665%+*)%
E6%3256%2D%DB6%D036%DB6%8;030<2?%C;486650<=1%2;6%!%?65G%07%DB6%
4776<565%C2;D061%B25%<4%8B2<86%D4%54%14%>21%AB6<%DB6F%A6;6%1D0??%
0<%2%B41C0D2?G%21%2%;61:?D%47%0<R:;061%1:776;65%0<%2%K6B08:?2;%2880H
56<DG%2D%DB6%D036%DB6%8;030<2?%1:0D%2=20<1D%DB6%6;;0<=%5;0K6;%A21%
!%?65@J%+4A6K6;G%0<%DB6%8216%47%4#'%('+!-@$66<+<2!$)!<6.!5.!aV7e$!
E<#<V$2!?AIGG102!E<K!ID2!/DG:2%DB6%!4:;D%1205%DB2D%b:?6%///%
47%DB6%-6A%b:?61%4<%!;030<2?%,;4865:;6G%0<1472;%21%0D%;69:0;61%
2%#$%$#5<)'*+!6K6<%0<%DB6%8216%47%2<%'+7$($+7$+)!&'5'6!<&)'*+G%01%
47% 54:ED7:?% 84<1D0D:D04<2?0DF% 0<213:8B% 21% DB6% b:?61% 47% !4:;D%
82<<4D%236<5%1:E1D2<D02?%?2AG%?0_6%DB6%!0K0?%!456J
(
(
Q4"%$4(O,(P&1"$91
N?LS*TS3(!6:,(L)3()TXL
%
!
P-4QRS% S7D6;% 2% K6B08:?2;% 288056<DG% DB6% K08D031% A6;6%
E;4:=BD% D4% DB6% B41C0D2?% 74;% D;62D36<DJ% "<% DB6% 362<D036G% DB6%
/TN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//U/
C4?086%2:DB4;0D061%!%?65%2%8;030<2?%8216%47%;68_?611%03C;:56<86%
;61:?D0<=%0<%CBF1082?%0<R:;061G%P"*+&c*%32_0<=%2%;616;K2D04<%
21%D4%DB6%80K0?%21C68DJ%PB6<%DB6%K08D031%E68236%A6??%6<4:=B%D4%=4%
D4%84:;DG%DB6F%5680565%D4%!%?6%2%&'5'6!&<%$%561C0D6%DB6%C6<56<8F%47%
DB6%8;030<2?%8216J!]%%V$S!.B4:?5%DB6%80K0?%8216%E6%2??4A65G%561C0D6%
DB6%C6<56<8F%47%DB6%8;030<2?%C;486650<=1d
%
!
TN?=S%e61G%74;%AB0?6%0D%01%D;:6%DB2D%2%;616;K2D04<%1B4:?5%
B2K6%E66<%3256%:<56;%b:?6%///%47%DB6%-6A%b:?61%4<%!;030<2?%
,;4865:;6%>DB4:=B%1:8B%;:?6%B21%E66<%21120?65%EF%.&`(%0<%DB01%
;61C68D%21%K0;D:2??F%6?030<2D0<=%4;%236<50<=%DB6%V1:E1D2<D0K6X%
;0=BD%47%2??4A0<=%2<%V0<56C6<56<D%80K0?%28D04<GX%21%4;520<65%EF%
DB6%!0K0?%!456@%%)'66!)W$!CV6$!7*$%!+*)!%)<)$!XW$+!)W$!#$%$#5<)'*+!
'%!%V((*%$7!)*!@$!O<7$.%+6;6%DB6%K08D031%B25%<4%8B2<86%D4%32_6%
DB6%;616;K2D04<%>74;%DB6F%A6;6%1D0??%2D%DB6%B41C0D2?@W%34;64K6;G%
)W$!)#'<6!W<%!+*)!$5$+!@$eV+J%"D%01G%DB6;674;6G%<4D%F6D%D44%?2D6%D4%
32_6%DB6%;616;K2D04<W%0<%728DG%DB6%28D:2?%!%?0<=%47%DB6%80K0?%8216G%
DB4:=B%2D%DB01%1D2=6G%01%6K6<%E6DD6;%DB2<%DB6%32_0<=%47%DB6%;61H
6;K2D04<J
(
(
(
(
@"$0/$2(!='&&424(429(P"42%$0%1(!='&&424(O,
a12,(Q'"12$<1(M,(B4"46'(429(
Q'"12$<1(@1</42'"3('#(4&,
N?KXX+*3(B4.(KT3()TXU
(
!
P-4QRS! );2<80184% SE6??2<2% A21% 5;0K0<=% 2% 82;=4% D;:8_%
AB6<%B6%B0D%2%34D4;0[65%C65082EJ%)4:;%47%DB6%C2116<=6;1%47%DB6%
C65082E%A6;6%0<R:;65J%+6%A21%D;065%0<%DB6%!0DF%!4:;D%47%&[2301%
74;% ;68_?611% 03C;:56<86% ><4% ;616;K2D04<% A21% 3256% 21% D4% 2<F%
80K0?%28D04<%DB2D%30=BD%E6%0<1D0D:D65@W%B6%A21%84<K08D65J%+6%DB6<%
2CC62?65% D4% DB6% !4:;D% 47% )0;1D% "<1D2<86% ><4A% b6=04<2?% *;02?%
!4:;D%jb*!k@J%':;0<=%DB6%C6<56<8F%47%DB6%2CC62?%>2<5%0<%728DG%
E674;6%D;02?%0<%DB6%!)"%j<4A%b*!k@G%DB6%K08D031%5680565%D4%32_6%
2%PS"#(b%;6%8?203%74;%5232=61%0<%DB6%8;030<2?%8216G%2<5%b(.H
(b#S*"&-%A0DB%;61C68D%D4%DB6%80K0?%21C68D1J%*B6%K08D031%DB6<%
0<%2<4DB6;%O;2<8B%47%DB6%!)"%j<4A%b*!k%2??4A65%DB6%)"$"-f%
47%DB6%80K0?%8216J%*B6%288:165%4ER68D65%D4%DB6%2??4A2<86%4<%DB6%
DB64;F%DB2D%0<%DB6%4')K!4*V#)%>4;0=0<2?%84:;D@%+*!#$%$#5<)'*+%B21%
E66<%3256G%DB:1G%DB6%80K0?%21C68D%1B4:?5%E6%566365%0<8?:565%0<%
DB6%8;030<2?%1:0DG%84<74;32E?F%A0DB%b:?6%///%47%DB6%-6A%b:?61%
4<%!;030<2?%,;4865:;6J%*B6%!)"%>b*!@%320<D20<65%DB2D%DB6%80K0?%
8216%1B4:?5%E6%2??4A65%E682:16G%A0DB%DB6%2CC62?G%DB6%R:5=36<D%
/TQ
%
S;DJ%//U/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
47%DB6%!0DF%!4:;D%B25%E68436%5<&<)$7!>1205%84:;D%A21%DB6<%<4D%
2%84:;D%47%;684;5@%2<5%0<%DB6%!)"%>b*!@%DB6%8216%A21%D4%E6%D;065%
2<6A%>D;02?%7$!+*5*@J%*B01%;:?0<=%47%DB6%!)"%>b*!@%A21%6?6K2D65%
D4%DB6%.:C;636%!4:;D%4<%&$#)'*#<#'.!]%%V$S!`2F%2%80K0?%8216%1D0??%
E6%E;4:=BD%561C0D6%DB6%2CC62?%0<%DB6%8;030<2?%8216d
%
!
TN?=S%e61G%74;%DB;66%;6214<1I
>2@% P'#%)6K2%A0DB%DB6%2CC62?G%DB6%4;0=0<2?%R:5=36<D%47%84<K08H
D04<%A21%#S!S*('W%DB6;6%A0??%E6%2%D;02?%7$!+*5*!0<%DB6%
!)"%>b*!@G%2%D;02?%DB2D%B21%<4D%6K6<%E6=2<W%DB6;674;6G%2%
;616;K2D04<%82<%1D0??%E6%3256%2<5%2%80K0?%28D04<%82<%1D0??%E6%
2??4A65J
>E@% R$&*+76K2%D4%12F%DB2D%DB6%80K0?%28D04<%01%E2;;65%E682:16%<4%
;616;K2D04<%>C:;1:2<D%D4%b:?6%///@%B25%E66<%3256%0<%DB6%
!0DF%!4:;D%AB6<%DB6%8;030<2?%1:0D%A21%!%?65%01%D4%C;616<D%
2%=;2K6%84<1D0D:D04<2?%9:61D04<G%<236?FG%82<%DB6%.:C;636%
!4:;DG% 0<% b:?6% ///% 236<5% 4;% ;61D;08D% 2% .cO.*S-*"#(%
;0=BD% =;2<D65% EF% DB6% !0K0?% !456d% *B01% 82<<4D% E6% 54<6J%
*B6%2CC2;6<D%6')$#<6%03C4;D%47%DB6%b:?6%82<<4D%C;6K20?J%S%
R:5=6%V01%<4D%D4%72??%C;6FGX%21%2534<01B65%EF%^:1D086%);2<_%
);2<_7:;D6;G%VD4%DB6%K086%47%?0D6;2?<611JLL
>8@%
QW'#76K2%0D%A4:?5%E6%c-)S"bG%:<56;%DB6%80;8:31D2<861G%
07%DB6%K08D031%A4:?5%<4D%E6%2??4A65%D4%;684K6;%2<F%80K0?%?0H
2E0?0DFG%84<1056;0<=%DB6%5232=6%54<6%D4%DB63J
G)SH( M'%1O'".(1;(I4<4:'0($2([!BC(@![C(I'0/$#'(!%56$##4&
(
(
M1.(J49$&&4(O,(@16"#(1;(!//'4&0
N?LTTTT3(B4.(L)3()TRU
(
%
"7%2%C6;14<%01%289:0DD65%0<%2%8;030<2?%8216%4<%;6214<2E?6%
54:EDG%B6%32FG%0<%DB6%K6;F%1236%8;030<2?%8216G%E6%B6?5%?02E?6%
74;%7<O<e$%G%07%DB01%01%A2;;2<D65%EF%DB6%6K056<86%DB2D%B25%E66<%
255:865J%*B6;6%01%<4%<665%D4%0<1D0D:D6%2%16C2;2D6%80K0?%1:0D%74;%
5232=61J
(
(
J'1/&'(O,(@40#4k'94
QM(UTXR)3(^62,(KU3()TRL
(
%
"7%2%C6;14<%01%<4D%8;030<2??F%?02E?6G%0D%5461%<4D%<686112;0?F%
74??4A%DB2D%B6%01%2?14%<4D%80K0??F%?02E?6J%+6%32F%0<5665%E6%80K0??F%
/T\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//U/
;61C4<10E?6J% *B:1G% B6% 32F% 1D0??% E6% 1:65% 80K0??F% 74;% DB6% 1236%
28DJ
(
(
J'1/&'(O,(E'"'04(^4&42912$
QM(SXSSS3(!6:,(KR3()TRU
%
%
(K6<%07%2<%288:165%0<%2<%61D272%8216%01%<&YV'))$7!4<%;62H
14<2E?6%54:ED%1B6%O<K!%)'66!@$!W$67!&'5'66K!6'<@6$2%74??4A0<=%DB6%
;:?0<=%0<%"<7'66<!5.!4*V#)!*>!-(($<6%2!?AFDDDD2!E<K!F/2!/D3:.
G)+H( !;!(94O$#(1;(I'0$0#42%'
(
(
J'1/&'(O,(C2#'0
N?S*+LK3(P'=,(KU3()TR)
%
%
S7!%52K0D1%47%56101D2<86%>1:8B%21%2<%6MC;611%C2;54<%0<%C;0H
K2D6%8;0361%27D6;%DB6%!%?0<=%47%DB6%8;030<2?%8216@%54%<4D%R:1D07F%
DB6%50130112?%47%2%8;030<2?%843C?20<DJ
(
(
J'1/&'(O,(B4.1"(@4"62%813(^",
N?SXR*U3(^42,(KL3()TRU
>/@% S%843C;43016%4<%DB6%80K0?%?02E0?0DF%47%2%C6;14<%74;%B2K0<=%
84330DD65%2%8;036%5461%<4D%6MD0<=:01B%B01%8;030<2?%4;%C6<2?%
?02E0?0DFJ
>N@% "7%2%3:<080C2?%R:5=6%501301161%2%8;030<2?%8216%74;%V1?0=BD%
CBF1082?%0<R:;061X%4<%2884:<D%47%2%K4?:<D2;F%27!%52K0D%47%56H
101D2<86G%AB0?6%DB01%32F%E6%2<%V2E:16%47%5018;6D04<GX%DB6;6%
82<<4D%E6%2%ke#<5$%2E:16%47%5018;6D04<JX%*B:1G%2%C6D0D04<%
74;%&$#)'*#<#'%#$%DB6%50130112?%47%DB6%8216%A0??%)S"$%4;%O(%
'(-"('J
G)XH( C;;'%#(1;(D12?!&&':4#$12(1;(I4<4:'0
(
(
-49$12:(O,(^69:'(!/4&$01\
QM(+*)S)3(^62,(KU3()TRL
((
%
"<%2%8;030<2?%8216G%80K0?%?02E0?0DF%32F%E6%8?20365%6K6<%07%
DB6;6%01%<4%1C680!%8%2??6=2D04<%47%5232=61%0<%DB6%0<74;32D04<%4;%
843C?20<D%DB2D%B21%E66<%!%?65J
/T]
%
S;DJ%//UN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
(
!"#,( ))+K,( A=&$:4#$120( 9'"$O'9( ;"1<( 5640$?9'&$%#0( 084&&(
='(:1O'"2'9(=.(#8'(/"1O$0$120(1;(@84/#'"(K3(E$#&'(me>>(1;(#8$0(
-11\3(429(=.(0/'%$4&(&470,
@ABBCDEF
G)H( A=&$:4#$120(Cb(]640$?I'&$%#0(1"(Cb(]640$?B4&'!(%$1
(
%
f4K6;<0<=%?2A1%>O2;%m:61D04<@
>2@%% !B2CD6;%NG%*0D?6%/aG%O44_%"#G%!0K0?%!456
>E@% .C6802?%$2A1
GKH( !21#8'"(D4<'(;1"(]640$?I'&$%#
(
%
S<4DB6;% <236% 74;% 9:210H56?08D% 01% VD4;DX% 4;% k&V6(<! <YV'6A
'<+<.m
GLH( I'!(2$#$12(1;(Y]640$?I'&$%#Z
%
%
S%9:210H56?08D%01%2%72:?D%4;%28D%47%<6=?0=6<86%>4;%4301104<%
47%&<#$@%AB08B%82:161%5232=61%D4%2<4DB6;G%DB6;6%E60<=%<4%C;6H
6M01D0<=%84<D;28D:2?%;6?2D04<1%E6DA66<%DB6%C2;D061J
%
%
_9HQNS%"7%2%C6;14<%01%1:65%74;%82:10<=%5232=6%DB;:%DB6%
K04?2D04<%47%D;27!%8%;:?61G%DB6%288:12D04<%01%4<6%28D:2??F%;676;;0<=%
D4% <6=?0=6<86% 4;%YV<%'A7$6'&)! *#! &V6(<! <YV'6'<+<.% V#04?2D04<% 47%
D;27!%8%;:?61X%01%36;6?F%5618;0CD0K6%47%DB6%720?:;6%47%DB6%5;0K6;%D4%
4E16;K6G%74;%DB6%C;4D68D04<%47%DB6%0<D6;61D1%47%4DB6;1G%DB2D%56=;66%
47% 82;6G% C;682:D04<G% 2<5% K0=0?2<86% AB08B% 80;8:31D2<861% R:1D?F%
5632<5G%AB08B%720?:;6%;61:?D1%0<%0<R:;F%4<%8?2032<D1J%(M86110K6%
1C665%0<%K04?2D04<%47%D;27!%8%;:?6%01%2%8?62;%0<5082D04<%47%<6=?0=6<86J%
,B<#&'<2!$)!<6.!5.!aV7e$!P6*#'7*2!4P]2!E'%<O'%!H#'$+)<62!$)!<6.2!
?AF;0D;2!-Ve.!F/2!/DGF8.`
(
(
C&%421(O,(a$&&
XX([@M!(TR
(
!
4V6(<! <YV'6'<+<! >9:210H56?08D1@% 82<% ;676;% D4% 28D1% AB08B%
2;6% 8;030<2?% 0<% 8B2;28D6;G% AB6DB6;% DB6% 1236% E6% K4?:<D2;F% 4;%
<6=?0=6<DJ
/TU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//UN
GUH( Cb4</&'0
>2@% PB0?6%5;0K0<=%2%82;%;68_?611?FG%"%0<R:;65%2%C6561D;02<J
>E@% PB0?6% 8?62<0<=% 3F% A0<54A% 10??G% 3F% <6=?0=6<86% 82:165% 2%
"%4A6;%C4D%D4%72??%4<%DB6%1D;66DG%E;62_0<=%DB6%2;31%47%3F%
<60=BE4;J
%
!
>9HQNS%"<%DB6%2E4K6%6M23C?61G%"%82<%2?14%E6%8B2;=65%
A0DB%DB6%8;036%47%CBF1082?%0<R:;061%DB;:%103C?6%4;%;68_?611%
03C;:56<86J@
GSH( I'!(2$#$120(1;(D':&$:'2%'(G@6&/4H
>2@% V-6=?0=6<86% 01% DB6% 720?:;6% D4% 4E16;K6G% 74;% DB6% C;4D68D04<%
47% DB6% 0<D6;61D1% 47% 2<4DB6;% C6;14<G% DB2D% 56=;66% 47% 82;6G%
C;682:D04<G%2<5%K0=0?2<86%AB08B%DB6%80;8:31D2<861%R:1D?F%
5632<5G%AB6;6EF%1:8B%4DB6;%C6;14<%1:776;1%0<R:;FJX%,^.R.!
5.!L<##'<%2!IF!"W'6.!:F:8.
>E@% S1%56!%<65%EF%DB6%!0K0?%!456G%<6=?0=6<86%01%DB6%4301104<%47%
DB2D%50?0=6<86%AB08B%01%;69:0;65%EF%DB6%80;8:31D2<861%47%
C6;14<G%C?286G%2<5%D036J%,R$$!-#).!//GF8.!*B:1G%<6=?0=6<86%
01%2%9:61D04<%47%728DJ%,R$$!QV&M$#!5.!E'6<+2!_4.-.`!:D!H.B.!
:FDG2!H&).!/D;F8.
G+H( E'0#(;1"(I'#'"<$24#$12(1;(D':&$:'2%'
(
%
V*B6% D61D% 0<% 56D6;30<0<=% AB6DB6;% 2% C6;14<% 01% <6=?0=6<D%%
J%J%J%01%DB01I%P4:?5%2%C;:56<D%32<%>0<%B01%C410D04<@%>*#$%$$!W<#O%
D4%DB6%C6;14<%0<R:;65%21%2%;6214<2E?6%84<169:6<86%47%DB6%84:;16%
2E4:D%D4%E6%C:;1:65d%"7%14G%DB6%?2A%03C4161%2%5:DF%4<%DB6%28D4;%
D4% ;67;20<% 7;43% DB2D% 84:;16G% 4;% D4% D2_6% C;682:D04<% 2=20<1D% 0D1%
3018B06K4:1%;61:?D1G%2<5%DB6%720?:;6%D4%54%14%84<1D0D:D61%<6=?0H
=6<86J%b6214<2E?6%74;610=BD%47%B2;3G%74??4A65%EF%DB6%0=<4;0<=%
47%DB6%2534<0D04<%E4;<%47%DB01%C;4K0104<G%01%DB6%84<1D0D:D6%728D%
47%<6=?0=6<86JX%,"'&<#)!5.!RO')W2!FG!"W'6.!30D8.
GXH( M'56$"'<'2#0(-';1"'(4(J'"012(@42(-'(a'&9(N$4=&'(;1"(4(
]640$?I'&$%#
>2@% DB6;6%3:1D%E6%72:?D%4;%<6=?0=6<86%2DD;0E:D2E?6%D4%DB6%C6;14<%
8B2;=65W
>E@% DB6;6%3:1D%E6%5232=6%4;%0<R:;FW
/Ta
%
S;DJ%//UN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
>8@%
DB6;6%3:1D%E6%2%50;68D%;6?2D04<%47%82:16%2<5%67768D%E6DA66<%
DB6%72:?D%4;%<6=?0=6<86%4<%DB6%4<6%B2<5%2<5%DB6%5232=6%4;%
0<R:;F%4<%DB6%4DB6;%B2<5!,(#*J'O<)$!&<V%$8.
!
_9HQNS
/@%
"#*J'O<)$!&<V%$%01%DB2D%2569:2D6%2<5%67!%806<D%82:16G%
AB08B%0<%DB6%<2D:;2?%4;56;%47%6K6<D1G%<686112;0?F%C;4H
5:861%DB6%5232=61%4;%0<R:;F%843C?20<65%47J
%
%
"<%DB6%8216%47%QV<%*+!5.!?Vd*+!R)$5$7*#'+e!4*.2!
$)!<6.2!?A/F;:/2!a<+.!I32!/D1/2%DB6%.:C;636%!4:;D%B6?5%
DB2D%10<86%DB6%C?20<D077G%(5:2;54%*:214<G%A21%D;2K6?H
?0<=%2D%2%K6;F%B0=B%;2D6%47%1C665G%2<5%4<%DB6%A;4<=%
1056% 47% DB6% ;425G% B01% <6=?0=6<86% A21% DB6% (#*J'O<)$!
&<V%$%47%DB6%288056<D%AB08B%E25?F%0<R:;65%B03G%2<5%
DB6;674;6%B6%82<<4D%;684K6;%5232=61%7;43%DB6%4DB6;%
C2;DF%0<%DB6%84??0104<J
N@%
*B6;6%2;6%0<1D2<861%AB6<%V2?DB4:=B%DB6;6%01%5232=61G%
DB6;6%01%<4%?6=2?%0<R:;F%4;%A;4<=X%>7<O+VO!<@%YV$!
'+UV#'<%h%5232=6%A0DB4:D%?6=2?%0<R:;F@J%>NJ<O(6$S!"7%
2%&<#$>V66KA7#'5$+%82;%82:161%5232=6%D4%2%C6561D;02<%
E682:16%DB6%5;0K6;%A21%1:556<?F%1D;:8_%EF%6'eW)+'+e2!
DB01%01%2<%0<1D2<86%47%5232=6%A0DB4:D%0<R:;FJ@k
GRH( @6&/4(!56$&$424(1;(B4""$'9(B$21"0
(
(
C&%421(O,(a$&&
XX([@M!(TR
(
(
"7%2%32;;065%30<4;%84330D1%2%9:210H56?08D%4;%&V6(<!<YV'A
6'<+<2%B01%C2;6<D1%A4:?5%E6%?02E?6%07%1205%30<4;%?0K61%A0DBG%2<5%
01%56C6<56<D%4<G%DB63J
GTH( e$1&4#$12(1;(42(A=&$:4#$12
(
(
(
B40%62424(O,(e'"9'"(1"
XT([@M!(LLT
%
&A<6;1% 47% ?2<5% 7;4<D0<=% 2% C:E?08% 1D;66D% B2K6% 2% 82:16% 47%
28D04<%2=20<1D%2%3:<080C2?%84:<80?%;614?:D04<%DB2D%B21%4;56;65%
DB6%8?41:;6%47%1205%1D;66D%D4%K6B08:?2;%D;27!%8J
/TY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
,/01234!8
.7"@*%!7.<!%99%,"!-9!->$#67"#-.+
(
!"#,())+L,(CO'".(/'"012(1=&$:'9(#1(:$O'(01<'#8$2:($0(4&01(
1=&$:'9(#1(#4\'(%4"'(1;($#(7$#8(#8'(/"1/'"(9$&$:'2%'(1;(4(:119(
;4#8'"(1;(4(;4<$&.3(62&'00(#8'(&47(1"(#8'(0#$/6&4#$12(1;(#8'(/4"?
#$'0("'56$"'0(421#8'"(0#4294"9(1;(%4"',
@ABBCDEF
G)H( I6#.(#1(Cb'"%$0'(I$&$:'2%'
%
%
*B01%S;D08?6%562?1%A0DB%DB6%!%;1D%67768D%47%2<%4E?0=2D04<%D4%
56?0K6;%2%7$)$#O'+<)$!DB0<=%>21%501D0<=:01B65%7;43%2%e$+$#'&%DB0<=%
h%*#!*+$!*>!<!&6<%%@%h%<236?F%h%DB6%5:DF%D4%6M6;8016%C;4C6;%
50?0=6<86J%c<?611%50?0=6<86%01%6M6;80165G%DB6;6%01%2%52<=6;%DB2D%
DB6%C;4C6;DF%A4:?5%E6%?41D%4;%561D;4F65G%DB:1%;6<56;0<=%0??:14;F%
DB6%4E?0=2D04<J%,R$$!3!E<+#$%<!F;AF18.
GKH( I$&$:'2%'(D''9'9
>2@% *B2D%AB08B%01%;69:0;65%EF%DB6%+<)V#$%47%DB6%4E?0=2D04<%2<5%
84;;61C4<51%A0DB%DB6%80;8:31D2<861%47%($#%*+2!)'O$2!<+7!
(6<&$.!,-#).!//GF2!4'5'6!4*7$8.!*B01%01%#$<66K%50?0=6<86%47%2%
=445%72DB6;%47%2%7230?FJ
>E@% +4A6K6;G% 07% DB6% 6<X! 4;% &*+)#<&)% C;4K0561% 74;% 2% 7'>>$#$+)%
1D2<52;5%47%82;6G%1205%?2A%4;%1D0C:?2D04<%3:1D%C;6K20?J%,-#).!
//1F2!4'5'6!4*7$8.
%
j(M23C?6%47%2%8216%AB6;6%DB6%?2A%;69:0;61%$J)#<*#7'+<#K!82;6%
><4D%36;6?F%DB2D%47%2%(#V7$+)!32<@I
%
%
VS%84334<%82;;06;%01%E4:<5%D4%82;;F%DB6%C2116<=6;1%1276?F%
<%!><#!<%!WVO<+!&<#$!<+7!>*#$%'eW)!82<%C;4K056G%:10<=%DB6%:D341D%
50?0=6<86%47%K6;F%82:D04:1%C6;14<1G%A0DB%2%5:6%;6=2;5%74;%2??%DB6%
80;8:31D2<861JX%,-#).!/G;;2!4'5'6!4*7$8Jk
/TZ
%
S;DJ%//UQ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GLH( [1<'(@40'0
(
(
A='_'"43('#(4&,(O,(>:4([.
X+(J8$&,(SR*
(
!
P-4QRS!':;0<=%DB6%^2C2<616%488:C2D04<G%-!2<5%L%14:=BD%
;67:=6%0<%DB6%B4:16%47%2%86;D20<%#0??6<2%0<%O2D2<=21G%O2D2<=21J%
PB6<%DB6%^2C2<616%<62;65%DB6%C?286G%-%2<5%L!B05%DB60;%K2?:2E?61%
0<%#0??6<2L1%5:=4:DJ%$2D6;G%DB6%K2?:2E?61%A6;6%?41DJ!-%8?20365%
DB2D%B6%B25%=0K6<%B01%DB0<=1%D4%L!21%2%7$(*%')G%2<5%DB2D%DB6;674;6%
L%1B4:?5%E6%?02E?6%74;%DB6%?411J%L%56<065%DB6%6M01D6<86%47%1:8B%
56C410DJ%'68056%DB6%9:61D04<%47%?02E0?0DFJ
%
!
TN?=S%"<%DB6%!%;1D%C?286G%0D%01%B2;5%D4%E6?06K6%DB2D%L%84<H
16<D65%D4%1276=:2;5%DB6%K2?:2E?61%2D%2%D036%AB6<%<4%4<6%84:?5%
E6%1:;6%47%B01%4A<%?076J%"<%DB6%1684<5%C?286G%=;2<D0<=%DB2D%L%B25%
211:365%DB6%4E?0=2D04<%D4%D2_6%82;6%47%DB6%C;4C6;DFG%1D0??%84<105H
6;0<=%DB6%80;8:31D2<861%47%DB6%D036%2<5%C?286G%DB6%4E?0=2D04<%D4%
;6D:;<%DB6%K2?:2E?61%A21%6MD0<=:01B65%EF%DB6%?411%47%DB6%DB0<=%
DB;:%1436DB0<=%AB08B%A21%<4D%DB6%72:?D%47%L.
(
(
-$081/(1;(^4"1(O,(I'(&4(J'k4
K+(J8$&,()UU
(
!
P-4QRS!S%C;061DG%SJ%56%?2%,6n2G%A21%DB6%8:1D4502<%47%86;H
D20<%8B2;0DF%7:<51%>,UGU\/@%AB08B%B6%56C410D65%D4=6DB6;%A0DB%B01%
C6;14<2?%2884:<D%47%>,/ZGTTT@%0<%2<%"?40?4%O2<_%1B4;D?F%E674;6%
DB6%S36;082<%0<K2104<%47%DB6%,B0?0CC0<61J%':;0<=%DB6%;6K4?:D04<G%
,6n2%E68236%2%C4?0D082?%C;014<6;%2<5%B01%E2<_%56C410D%A21%84<!%1H
82D65%4<%DB6%=;4:<5%DB2D%DB6F%A6;6%E60<=%:165%74;%;6K4?:D04<2;F%
C:;C4161J%]%%V$S!"1%B6%?02E?6%74;%DB6%?411%47%DB6%D;:1D%7:<51d
%
!
TN?=S%-4G%E682:16%<6=?0=6<86%505%<4D%6M01D%0<%B01%56C410DH
0<=%DB6%34<6F%A0DB%DB6%E2<_J%"D%01%21%07%DB6%34<6F%A21%D2_6<%
7;43%B03%EF%74;86%2<5%8?62;?FG%B6%1B4:?5%<4D%E6%;61C4<10E?6J
(
(
-'"24='(!;"$%43('#(4&,(O,(@4&#'b3('#(4&,
N?)KTR+3(B4",(L)3()T++
(
!
P-4QRS% S% !%;6% E;4_6% 4:D% 2D% 2% !2?D6M% 16;K086% 1D2D04<J% "D%
1D2;D65%AB0?6%=214?0<6%A21%E60<=%B4165%7;43%2%D2<_%D;:8_%0<D4%
DB6%:<56;=;4:<5%1D4;2=6G%;0=BD%2D%DB6%4C6<0<=%47%DB6%;6860K0<=%
//T
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//U\
D2<_%AB6;6%DB6%<4[[?6%47%DB6%B416%B25%E66<%0<16;D65J%*B6%!%;6%
561D;4F65%16K6;2?%B4:161J%!2?D6M%2<5%DB6%1D2D04<%32<2=6;%A6;6%
1:65J%]%%V$S%P0DB4:D%C;447%21%D4%DB6%82:16%2<5%4;0=0<%47%DB6%!%;6G%
A4:?5%DB6%548D;0<6%47%#$%!'(%<!6*YV')V#!2CC?F%1:8B%DB2D%DB6%56H
76<52<D1%82<%E6%C;61:365%<6=?0=6<Dd
%
!
TN?=S%e61G%74;%DB6%=214?0<6%1D2D04<%A21%:<56;%DB6%82;6%47%
DB6%5676<52<DG%AB4%=2K6%<4%6MC?2<2D04<%2D%2??%;6=2;50<=%DB6%!%;6J%
"D%01%720;%D4%;6214<2E?F%0<76;%DB2D%DB6%0<8056<D%B2CC6<65%E682:16%
47%DB60;%A2<D%47%82;6J
(
(
M1256$&&13('#(4&,(O,([$2:012
@!3(N?KK+)K?M3(!/",(KK3()TST
(
!
P-4QRS!S%32<%4;56;65%2%D6<HF62;H4?5%E4FG%^416%b4<9:0??4G%
D4%8?03E%2%B0=B%2<5%;2DB6;%1?0CC6;F%12<D4?%D;66G%A0DB%2%C;43016%
D4%=0K6%B03%C2;D%47%DB6%7;:0D1J%*B6%E4F%A21%_0??65%0<%DB6%28D%47%
8?03E0<=J%]%%V$S!"1%DB6%C6;14<%AB4%4;56;65%B03%?02E?6d
%
!
TN?=S! e61G% 0<% K06A% 47% B01% <6=?0=6<D% 28D% 0<% 32_0<=% DB6%
4;56;J%+6%505%<4D%D2_6%5:6%82;6%D4%2K405%2%;6214<2E?F%74;6166H
2E?6%0<R:;F%D4%DB6%/THF62;H4?5%E4FJ%*B6%D;66%A21%2%D;628B6;4:1%
4<6G%2%K6;0D2E?6%D;2CJ%+01%28D%A21%8?62;?F%2%56C2;D:;6%7;43%DB6%
1D2<52;5%47%84<5:8D%;69:0;65%47%2%C;:56<D%32<J%+6%1B4:?5%B2K6%
56101D65%7;43%32_0<=%DB6%4;56;J%.0<86%B6%720?65%D4%2CC;6802D6%DB6%
C;6508D2E?6%52<=6;%2<5%2==;2K2D65%1:8B%<6=?0=6<86%EF%4776;0<=%
C2;D%47%DB6%7;:0D1%21%2%;6A2;5G%0D%01%8?62;%DB2D%B6%1B4:?5%E6%3256%
D4%;61C4<5%0<%5232=61%74;%DB6%28D04<2E?6%A;4<=%84330DD65%EF%
B03J
(
!"#,())+U,(E8'(%"'9$#1"(840(4("$:8#(#1(#8'(;"6$#0(1;(#8'(#8$2:(
;"1<(#8'(#$<'(#8'(1=&$:4#$12(#1(9'&$O'"($#(4"$0'0,(a17'O'"3(8'(
084&&( 4%56$"'( 21( "'4&( "$:8#( 1O'"( $#( 62#$&( #8'( 04<'( 840( =''2(
9'&$O'"'9(#1(8$<,
@ABBCDEF
G)H( `8'2(@"'9$#1"(>0(C2#$#&'9(#1(#8'(P"6$#0
%
!
NJ<O(6$S!-%01%4E?0=65%D4%=0K6%L%4<%'68J%QG%NTT\G%2%C2;D08:?2;%
C2;86?%47%?2<5J%>O674;6%'68J%QG%B6%B21%<4%;0=BD%AB2D146K6;%4K6;%
DB6%7;:0D1@J%S7D6;%'68J%QG%NTT\G%L2%DB6%8;650D4;%01%6<D0D?65%>21%47%
///
%
S;DJ%//U\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
;0=BD@%D4%DB6%7;:0D1J%O:D%07%DB6%7;:0D1%2<5%DB6%?2<5%2;6%<&)V<66K!*#!
&*+%)#V&)'5$6K!7$6'5$#$7%4<?F%4<%'68J%/]G%NTT\G%L!E684361%4A<6;%
47%1205%7;:0D1%2<5%?2<5%4<?F%7;43%1205%52D6J%O6DA66<%'68J%Q%2<5%
'68J% /]G% L! B25% 4<?F% 2% ($#%*+<6! ;0=BD% >6<74;862E?6% 2=20<1D% -@W%
27D6;%'68J%/]G%B6%B21%2%#$<6!#'eW)%>4K6;%DB6%C;4C6;D061@G%2%;0=BD%
DB2D%01%6<74;862E?6%2=20<1D%DB6%XW*6$!X*#67.
!
!
_9HQNS!S%($#%*+<6!;0=BD%01%2?14%82??65%UV%!'+!($#%*+<O%4;%
UV%!<7!#$Oi%2%#$<6!#'eW)%01%2%UV%!'+!#$.!,R$$!P'7$6')K!<+7!=$(*%')!
4*.!5.!f'6%*+2!3!"W'6.!;/8.!S%C6;14<2?%;0=BD%01%C4A6;%5632<52E?6%
EF%4<6%C6;14<%47%2<4DB6;%h%D4%=0K6G%D4%54G%4;%<4D%D4%54%,F!R<+&W$d!
C*O<+!12!38i%2%;62?%;0=BD%01%2%C4A6;%4K6;%2%%($&'!!&!)W'+e%>?0_6%DB6%
;0=BD%47%*X+$#%W'(!4;%C41161104<@%2<5%01%E0<50<=%4<%DB6%AB4?6%
A4;?5J%,R$$!F!R<+&W$d!C*O<+!12!38.`
%
!
_9HQNS! "<% DB6% 8216% 47% 2% C:;8B216% 47% ?2<5G% 74;% 6M23C?6G%
@$>*#$! DB6% ?2<5% 01% 56?0K6;65G% DB6% C;4C6;% ;6365F% 47% DB6% E:F6;%
>10<86%B6%01%<4D%F6D%DB6%4A<6;@%01%D4%843C6?%%($&'!!&!($#>*#O<+&$!
2<5%7$6'5$#KG%2<5%+*)%2<%<&&'*+!#$'+5'+7'&<)*#'<%>74;%DB6%?2DD6;%
;6365F%C;61:CC4161%*X+$#%W'(@J!,R$$!B<#&W')*#$+<!5.!-6O$7<2!
_4.-.`!:3!H.B.!F:FIi!%$$!<6%*!4#Vd<7*!5.!LV%)*%!b!N%&<6$#2!F:!
"W'6.!/G8.`
GKH( N4#$2(B4b$<(GM'(I'&$O'".(429(A72'"08$/H
(
!
k9*+!+V7'%!(<&)'%2!%$7!)#<7')'*+'%!7*O'+'<!#$#KO!)#<+%>$#A
<+)V#.m%>S1%2%84<169:6<86%47%86;D20<%84<D;28D1G%0D%01%<4D%2=;6636<D%
E:D%)#<7')'*+!4;%7$6'5$#K!DB2D%D;2<176;1%4A<6;1B0C@J%,/0!E<+#$%<!
FFD!<+7!P'7$6')K!b!=$(*%')!4*.!5.!f'6%*+2!3!"W'6.!;/8.
GLH( l$290(1;(I'&$O'".
(
(
'6?0K6;F%32F%E6%60DB6;%<&)V<6!4;!&*+%)#V&)'5$J
>2@% -&)V<6! 7$6'5$#K% >4;% D;250D04<@% h% AB6;6% CBF1082??FG% DB6%
C;4C6;DF%8B2<=61%B2<51J%NJ<O(6$S!"7%-%16??1!L%2%74:<D20<%
C6<G%DB6%e'5'+e%EF%-%D4%L%47%DB6%74:<D20<%C6<%01%<&)V<6!)#<A
7')'*+.
>E@% 4*+%)#V&)'5$!7$6'5$#K%h%DB2D%AB6;6%DB6%CBF1082?%D;2<176;%
01%'O(6'$7J%*B01%32F%E6%54<6%EFI
/@%
)#<7')'*!%'O@*6'&<%>1F3E4?082?%D;250D04<@%h%>21%AB6<%
DB6%M$K%%47%2%@*7$e<%2;6%=0K6<@
//N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
S;DJ%//U\
N@%
)#<7')'*! 6*+e<! O<+V% >56?0K6;F% EF% 36;6% 84<16<D% 4;%
DB6%C40<D0<=%4:D%47%DB6%4ER68D@%>(DF34?4=082??FG%VDB6%
6MD6<50<=%47%DB6%B2<5JX@%NJ<O(6$S%C40<D0<=%4:D%DB6%
82;G%AB08B%01%DB6%4ER68D%47%DB6%12?6J
Q@%
)#<7')'*!@#$5'!O<+V%h%>56?0K6;F%EF%DB6%1B4;D%B2<5W%
DB2D%_0<5%47%56?0K6;F%AB6;6EF%2%C4116114;%47%2%DB0<=%
+*)! 21% 2<% 4A<6;G% E684361% DB6% C4116114;% 21% 4A<6;@%
>NJ<O(6$S!AB6<%2%)$+<+)!2?;625F%0<%C41161104<%@VK%!
DB6%B4:16%B6%01%;6<D0<=@J
\@%
)#<7')'*!&*+%)')V)VO!(*%%$%%*#'VO!g!DB6%4CC410D6%47%
@#$5'!O<+VW%DB:1G%DB6%56?0K6;F%AB6;6EF%2%C4116114;%
47%2%DB0<=%21%2<%4A<6;G%#$)<'+%!C41161104<%<4%?4<=6;%
21%2<%4A<6;G%E:D%0<%1436%4DB6;%82C280DF%>?0_6%2%B4:16%
4A<6;G%AB4%%$66%%2%B4:16G%E:D%;6320<1%0<%C41161104<%
21%)$+<+)!47%DB6%1236%B4:16@J
]@%
)#<7')'*+!@K!)W$!$J$&V)'*+!*>!6$e<6!>*#O%!<+7!%*6$O+'A
)'$%%>?0_6%DB6%6M68:D04<%47%2%C:E?08%0<1D;:36<D%16??0<=%
?2<5@J
!
_9HQNS!S%12?6%AB08B%01%103:?2D65G%4;%6K6<%2%=6<:0<6%4<6G%
AB6;6%DB6;6%01%<4%7$6'5$#K%47%DB6%4ER68DG%5461%<4D%D;2<176;%4A<6;H
1B0CJ%,R$$!4#Vd<7*!5.!LV%)*%!b!N%&<6$#2!F:!"W'6.!/G8.`
GUH( I'&$O'".(1;(>9'4&([84"'
(
(
Q4#%84&$42(O,(!"&':6$
XS([@M!(KLU
(
%
PB6<%EF%K0;D:6%47%2%84:;D%R:5=36<DG%2%C6;14<%01%4;56;65%
D4%56?0K6;%D4%2<4DB6;%DB6%C41161104<%47%2%(#*!'+7'5'%*!4;%'7$<6%
1B2;6%47%C;4C6;DFG%4A<65%0<%84334<G%0D%01%:<56;1D445%DB2D%AB2D%
01%84<D63C?2D65%01%1F3E4?082?%4;%84<1D;:8D0K6%56?0K6;FG%<4D%32D6H
;02?%4;%28D:2?%56?0K6;FJ
GSH( `8'2(I1'0(#8'(A=&$:4#$12(#1(I'&$O'"(!"$0'g
%
!
-9R.S!"D%56C6<51I
>2@% "7%DB6;6%01%<4%D6;3%4;%84<50D04<G%DB6<%7;43%DB6%C6;768D04<%
47%DB6%84<D;28DJ
//Q
%
S;DJ%//U]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
>E@% "7%DB6;6%01%2%D6;3%4;%2%84<50D04<G%DB6<%7;43%DB6%3436<D%
DB6%D6;3%2;;0K61%4;%DB6%84<50D04<%B2CC6<1J%,R$$!3!E<+#$%<!
::A:;8.
(
!"#,())+S,(`8'2(784#($0(#1(='(9'&$O'"'9($0(4(9'#'"<$24#'(
#8$2:3(#8'(%"'9$#1"3($2(499$#$12(#1(#8'("$:8#(:"42#'9(8$<(=.(
!"#$%&'())X*3(<4.(%1</'&(#8'(9'=#1"(#1(<4\'(#8'(9'&$O'".,
(
>;( #8'( #8$2:( $0( $29'#'"<$24#'( 1"( :'2'"$%3( 8'( <4.( 40\(
#84#( #8'( 1=&$:4#$12( ='( %1</&$'9( 7$#8( 4#( #8'( 'b/'20'( 1;( #8'(
9'=#1",
(
>;(#8'(1=&$:1"(9'&4.03(1"(840(/"1<$0'9(#1(9'&$O'"(#8'(04<'(
#8$2:(#1(#71(1"(<1"'(/'"0120(781(91(21#(84O'(#8'(04<'($2#'"?
'0#3(8'(084&&(='("'0/120$=&'(;1"(;1"#6$#160('O'2#(62#$&(8'(840(
';;'%#'9(#8'(9'&$O'".,
@ABBCDEF
G)H( @&400$!(%4#$12(1;(A=&$:4#$12(;"1<(#8'(e$'7/1$2#(1;([6=_'%#(
B4##'"
(
%
);43%DB6%K06AC40<D%47%DB6%%V@U$&)!O<))$#%>4;%4ER68D@%47%DB6%
4E?0=2D04<G%4E?0=2D04<1%2;6%50K0565%0<D4I
>2@! #$<6%4E?0=2D04<1%>D4%=0K6@I
/@%
D4%=0K6%2%%($&'!!&!DB0<=%>%$)!<(<#)!7;43%2%8?211@W
N@%
D4% =0K6% 2% e$+$#'&! 4;% '+7$)$#O'+<)$% DB0<=% >4<6% 47% 2%
8?211@J
>E@% ($#%*+<6%4E?0=2D04<1!>D4%54%4;%<4D%D4%54@J
GKH( [/'%$!(%(1"(I'#'"<$24#'(E8$2:0
%
%
S%DB0<=%01%1205%D4%E6%%($&'!!&%4;%7$)$#O'+<)$%AB6<%0D%01%82H
C2E?6%47%C2;D08:?2;%5610=<2D04<J
%
NJ<O(6$%S
>2@% DB01%82;
>E@% DB6%82;%4A<65%EF%-%4<%.6CDJ%/NG%NTT]
>8@%
DB6%82;%A0DB%C?2D6%<:3E6;%/Y/\%>NTT]@
//\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//U]
>5@% DB01%C2;D08:?2;%C08D:;6%47%`2:0%0<%3F%<4D6E44_
GLH( Q'2'"$%(1"(>29'#'"<$24#'(E8$2:0
%
%
S%DB0<=%01%e$+$#'&!4;%'+7$)$#O'+<)$!AB6<%0D%;676;1%4<?F%D4%
2%8?211G%D4%2%=6<:1G%2<5%82<<4D%E6%C40<D65%4:D%A0DB%C2;D08:?2;H
0DFJ
%
NJ<O(6$%S
>2@% 2%82;
>E@% 2%NTT]%O`P%2:D434E0?6
>8@%
DB6%1:3%47%,]%30??04<
>5@% 2%_0?4%47%1:=2;
GUH( M'<'9$'0(1;(#8'(@"'9$#1"(`8'2(#8'(I'=#1"(P4$&0(#1(@1<?
/&.(`$#8(a$0(A=&$:4#$12
>2@% 5632<5%1C680!%8%C6;74;32<86%>4;%843C?02<86@%47%DB6%4E?0H
=2D04<J%>*B01%01%D;:6%AB6DB6;%DB6%4E?0=2D04<%E6%e$+$#'&%4;%
%($&'!!&.@
>E@% 5632<5%;61801104<%4;%82<86??2D04<%>0<%1436%82161@J
>8@%
5632<5%7<O<e$%%60DB6;%X')W!4;%X')W*V)%60DB6;%47%DB6%!%;1D%
DA4G%>2@%4;%>E@J
%
%
>9HQNS%"7%"%23%6<D0D?65%D4%/T%_0?41%47%1:=2;%7;43%-G%"%
82<%5632<5%DB2D%-%4ED20<%DB6%1:=2;%2<5%=0K6%36%/T%_0?41%
DB6;647J%*B01%01%D;:6%6K6<%07%DB6%4E?0=2D04<%B6;6%E6%e$+$#'&.!
-!&<++*)!0<101D%4<%R:1D%C2F0<=%36%5232=61%4;%DB6%34<6D2;F%
K2?:6%47%DB6%1:=2;J%cC4<%DB6%4DB6;%B2<5G%07%"%5610;6%D4G%"%
82<%R:1D%E:F%/T%_0?41%47%1:=2;%2<FAB6;6%2<5%8B2;=6%DB6%
6MC6<16%D4%-.@J
(
(
d.(O,(J6V12
XT([@M!(STR
(
%
"7%2%C2;D<6;%0<%2%84<1D;:8D04<%6<D6;C;016%720?1%D4%7:?!%??%B01%
84330D36<D1%D4%DB6%C2;D<6;1B0CG%B6%01%;69:0;65%D4%0<563<07F%B01%
84HC2;D<6;%74;%DB6%?2DD6;L1%?41161G%1:8B%21%DB6%34<6F%0<K61D65%4;%
1C6<D%EF%DB6%?2DD6;J
//]
%
S;DJ%//U]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GSH( @40'(GM'(></"$012<'2#(-'%460'(1;(4(I'=#H
(
(
M6;1(]6'<6'&(O,(@16"#(1;(!//'4&0
N?KKXTU3(^42,()+3()T+R
(
!
P-4QRS%b:74%m:63:6?%A21%84<K08D65%EF%DB6%!4:;D%47%)0;1D%
"<1D2<86%><4A%b6=04<2?%*;02?%!4:;D@%47%b0[2?%47%DB6%8;036%47%?0E6?J%
*B6%84<K08D04<%A21%27!%;365%EF%DB6%!4:;D%47%SCC62?1J%&<%2CC62?%
D4%DB6%.:C;636%!4:;DG%B6%2??6=65G%234<=%4DB6;%DB0<=1I
>2@% *B2D%DB6;6%A21%<4%C;447%DB2D%5232=61%B25%E66<%1:1D20<65%
EF%DB6%4776<565%C2;DFW%2<5
>E@% *B2D% 1:E10502;F% 03C;014<36<D% 74;% <4<HC2F36<D% 47% DB6%
0<563<0DF%84<1D0D:D61%03C;014<36<D%74;%<4<HC2F36<D%47%
56ED%2<5%01%DB6;674;6%:<84<1D0D:D04<2?J
%
TN?=S!
>2@% S1%;6=2;51%DB6%2??6=65%2E16<86%47%C;447%DB2D%DB6%4776<565%
C2;DF%B21%1:776;65%36<D2?%2<=:01BG%?411%47%1?66CG%4;%84:?5%
<4D%?44_%2D%B01%<60=BE4;%1D;20=BD%0<%DB6%6F6G%1:7!%86%0D%D4%
1D;611%DB2D%EF%0D1%K6;F%<2D:;6G%?0E6?%82:161%501B4<4;G%501H
;6C:D6%2<5%5018;650DW%DB2D%DB6%0<R:;F%D4%DB6%;6C:D2D04<%47%
DB6%0<R:;65%C2;DF%01%2%<2D:;2?%2<5%C;4E2E?6%84<169:6<86%47%
DB6%567232D4;F%A4;51%0<%?0E6?%82161W%DB2D%AB6;6%DB6%2;D08?6%
01%?0E6?4:1%($#!%$%h%VDB6%?2A%03C?061%5232=61WX%2<5%DB2D%
DB6%843C?20<2<D%0<%?0E6?%82161%01%V<4D%;69:0;65%D4%0<D;45:86%
6K056<86%47%28D:2?%5232=61GX%2D%?621DG%AB6<%DB6%234:<D%47%
DB6%2A2;5%01%34;6%4;%?611%<430<2?J
>E@% *B6%80K0?%?02E0?0DF%2;010<=%7;43%?0E6?%01%<4D%2%V56EDGX%A0DB0<%
DB6% C:;K06A% 47% DB6% 84<1D0D:D04<2?% C;4K0104<% 2=20<1D% 03H
C;014<36<D%74;%<4<HC2F36<D%47%2%V56EDJX%"<1472;%21%1205%
0<R:<8D04<%01%84<86;<65G%V56EDX%362<1%2<%4E?0=2D04<%D4%C2F%
2%1:3%47%34<6F%V2;010<=%7;43%84<D;28DX%6MC;611%4;%03C?065J%
"<%2550D04<%D4%E60<=%C2;D%47%DB6%C6<2?DFG%DB6%80K0?%?02E0?0DF%
0<%DB6%C;616<D%8216%2;0161%7;43%2%D4;D%4;%8;036G%2<5%B6<86G%
7;43%?2AJ%S1%2%84<169:6<86G%DB6%1:E10502;F%03C;014<36<D%
74;%<4<HC2F36<D%47%1205%?02E0?0DF%5461%<4D%K04?2D6%DB6%84<H
1D0D:D04<2?%0<R:<8D04<J
!
%
j9HQNS% c<56;% 2% 843C2;2D0K6?F% <6A% b6C:E?08% S8DG%
84:;D1%82<%+*!6*+e$#%03C416%1:E10502;F%03C;014<36<D%0<%
//U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//U]
8216%47%80K0?%?02E0?0DF%2;010<=%7;43%2%8;036%C;68016?F%4<%DB6%
DB64;F% DB2D% 1205% 1:E10502;F% 03C;014<36<D% A4:?5% 1663%
D4%K04?2D6%DB6%84<1D0D:D04<2?%0<R:<8D04<J%+4A6K6;G%07%!!+$%!
><4D% 80K0?% ?02E0?0D061@% 2;6% :<C205% D4% DB6% .D2D6% ><4D6% DB2D%
80K0?%?02E0?0D061%=4%D4%4776<565%C;0K2D6%C2;D061@G%1:E10502;F%
03C;014<36<D%82<%E6%03C4165%>C;4K0565%DB6%5680104<%47%DB6%
84:;D%03C4161%1:8B%1:E10502;F%03C;014<36<D@Jk
G+H( C;;'%#(1;(P1"#6$#160(CO'2#0
(
%
S<4DB6;% 03C4;D2<D% 50776;6<86% E6DA66<% 2% e$+$#'&! 2<5% 2%
%($&'!!&!4E?0=2D04<%01%DB2DG%2%%($&'!!&!4E?0=2D04<G%DB2D%01G%2<%4E?0H
=2D04<%D4%56?0K6;%2%1C680!%8%DB0<=G%01G%21%2%;:?6G%6MD0<=:01B65%EF%
2%74;D:0D4:1%6K6<D%4;%28D%47%f45J%cC4<%DB6%4DB6;%B2<5G%=6<6;08%
4E?0=2D04<1%2;6%<6K6;%6MD0<=:01B65%EF%74;D:0D4:1%6K6<D1J
%
!
NJ<O(6$%S
>2@% -%01%4E?0=65%D4%=0K6%L%DB01%82;J%O674;6%56?0K6;FG%2<%62;DBH
9:2_6%561D;4F1%843C?6D6?F%DB6%82;J%*B6%4E?0=2D04<%D4%56?0K6;%
01%6MD0<=:01B65J
>E@% -%01%4E?0=65%D4%=0K6%L!2%@**MJ%.0<86%DB01%01%2%=6<6;08%DB0<=G%
6K6<%07%4<6%C2;D08:?2;%E44_%01%?41DG%4DB6;%E44_1%32F%D2_6%
0D1%C?286J%+6<86G%DB6%4E?0=2D04<%01%<4D%6MD0<=:01B65%,e$+V%!
+V+YV<O!($#')8.
GXH( E71(>20#42%'0(`8'"'(4(P1"#6$#160(CO'2#(I1'0(D1#(Cb?
'</#
%
%
*B6%Q;5%C2;2=;2CB%47%S;DJ%//U]%=0K61%DA4%0<1D2<861%AB6<%
2%74;D:0D4:1%6K6<D%5461%<4D%6M8:16%843C?02<86I
>2@% 07%DB6%4E?0=4;%V56?2F1X%>*B01%01%;62??F%7$><V6)!4;%kO*#<.m@
>E@% 07%DB6%4E?0=4;%01%=:0?DF%47%OS'%)S"*+%>74;%B2K0<=%C;430165%
D4%56?0K6;%DB6%1236%DB0<=%D4%DA4%4;%34;6%C6;14<1%AB4%54%
<4D%B2K6%DB6%1236%0<D6;61D%h%21%AB6<%4<6%01%+*)!DB6%2=6<D%
36;6?F%47%DB6%4DB6;@
GRH( YA"9$24".(I'&4.Z(I$0#$2:6$08'9(;"1<(YI';46&#Z
%
!
H#7'+<#K!7$6<K%01%50776;6<D%7;43%6$e<6!7$6<K!,7$><V6)8.%*B6%
!%;1D%01%36;6?F%<4<HC6;74;32<86%2D%DB6%1D0C:?2D65%D036W%5672:?D%
//a
%
S;DJ%//U]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
01%DB2D%56?2F%AB08B%234:<D1%D4%2%K0;D:2?%<4<7:?!%??36<D%47%DB6%
4E?0=2D04<J%>S1%2%;:?6G%D4%C:D%2%56ED4;%0<%5672:?DG%DB6;6%3:1D%E6%
2%5632<5%74;%7:?!%??36<DG%DB6%5632<5%E60<=%60DB6;%R:50802?%4;%
6MD;2R:50802?J@
GTH( Cb4</&'0
>2@% -%01%4E?0=65%D4%=0K6%L!B01%^2=:2;%82;%4<%'68J%aG%NTT]J%"7%4<%
1205%52FG%-%5461%<4D%56?0K6;G%B6%01%0<%*#7'+<#K%56?2F%><4D%
5672:?D@J% "7% 4<% '68J% YG% NTT]G% 2<% 62;DB9:2_6% 561D;4F1% DB6%
^2=:2;%82;G%-!01%<4D%?02E?6%E682:16%DB6%4E?0=2D04<%01%6MD0<H
=:01B65J
>E@% "7G%B4A6K6;G%4<%'68J%YG%7$O<+7!A21%3256%74;%56?0K6;FG%-!
A4:?5% E6% 0<% 6$e<6% 56?2F% >5672:?D@% 2<5% 07% ?2D6;G% DB6% 82;% 01%
561D;4F65% EF% 2% 74;D:0D4:1% 6K6<DG% B6% A4:?5% 1D0??% E6% ?02E?6%
>0<%DB2D%DB6%4E?0=2D04<%D4%56?0K6;%DB6%?41D%1C680!%8%DB0<=%01%
84<K6;D65%0<D4%2%34<6D2;F%8?203%74;%5232=61@J%,R$$!-#).!
//1;2! 4'5'6! 4*7$8J% +4A6K6;G% 07% DB6% 82;% A4:?5% B2K6% E66<%
561D;4F65%<)!<+K!#<)$%6K6<%07%<4%5632<5%B25%E66<%3256G%
DB6%234:<D%47%5232=6%A4:?5%E6%;65:865J%,-#).!II/;2!9*.!
:2!4'5'6!4*7$8.
G)*H( [1<'(I'%$9'9(@40'0(429(@16"#(M6&$2:0
(
%
*B6%CB;216%V/TT%_0?41%47%/1D%8?211%1:=2;%;20165%0<%3F%C?2<H
D2D04<X% 562?1% A0DB% 2% e$+$#'&% DB0<=% E682:16% 47% ?28_% 47% CBF1082?%
16=;6=2D04<J%,[V!Q$M!5.!B*+d<6$%2!ID!"W'6.!I3:8.
(
(
h6(E'\(O,(Q12V4&'0
KT(J8$&,(LRU
(
!
P-4QRS%-%4E?0=2D65%B0316?7%D4%16??%74;%2%56!%<0D6%C;086%2%
86;D20<%1C680!%65%9:2<D0DF%47%1:=2;%47%2%=0K6<%YV<6')K2!A0DB4:D%
5610=<2D0<=%2%C2;D08:?2;%?4DJ%]%%V$S!"<%8216%DB6%1:=2;%01%?41D%EF%2%
74;D:0D4:1%6K6<DG%AB4%E62;1%DB6%?411%C;04;%D4%56?0K6;FG%DB6%16??6;%
4;%DB6%E:F6;d
%
!
TN?=S%"<%DB01%8216G%DB6%16??6;%E62;1%DB6%?411%E682:16%AB2D%
A21%D4%E6%56?0K6;65%A21%+*)!2%1C680!%8%DB0<=G%E:D%2%=6<6;08%DB0<=J%
S<5%=6<:1%<6K6;%C6;01B61J%"<8056<D2??FG%DB6%12?6%B6;6%82<<4D%E6%
1205%D4%B2K6%E66<%2?;625F%C6;768D65%E682:16%47%DB6%?28_%47%CBF10H
82?%16=;6=2D04<%7;43%DB6%;61D%47%DB6%1:=2;J
//Y
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//UU
(
(
M1<42(O,(Q"$<4&#
+(J8$&,(T+
(
!
P-4QRS!-%A2<D65%D4%E:F%2%C2;D08:?2;%1B0C%7;43%L%4<%84<H
50D04<%DB2D%L%A4:?5%C;4K6%EF%(<($#%!DB2D%B6%,L8%A21%DB6%;62?%
4A<6;%47%DB6%1B0CJ%.:E169:6<D?FG%DB6%1B0C%A21%?41D%EF%2%74;D:0D4:1%
6K6<D%2?DB4:=B%DB6%(<($#%%B25%+*)!F6D%E66<%C;45:865J%]%%V$S!"1%
-!;69:0;65%D4%C2Fd
%
!
TN?=S% -% 01% <4D% ?6=2??F% E4:<5% D4% C2F% E682:16% DB6;6% A21%
<4%($#>$&)$7!%<6$%F6DG%10<86%DB6%84<50D04<G%<236?FG%DB6%C;447%47%
4A<6;1B0C%B25G%2D%DB2D%D036%47%?411G%<4D%F6D%E66<%7:?!%??65J%-%A21%
<4D%2%E:F6;W%B6%A21%4<?F%2%A4:?5HE6%E:F6;J
%
%
j9HQNS!+25%-%2?;625F%E4:=BD%DB6%1B0C%h%>B25%DB6%C;447%
47% 4A<6;1B0C% E66<% C;616<D65% 62;?06;@% h% B6% A4:?5% B2K6% E66<%
843C6??65%D4%C2F%DB6%C:;8B216%C;086%6K6<%07%2D%DB6%D036%47%?411G%
DB6%DB0<=%B25%<4D%F6D%E66<%56?0K6;65%D4%B03G%10<86%27D6;%2??G%DB6%
12?6%A4:?5%B2K6%E66<%2?;625F%C6;768D65Jk
(
(
Q6#$'""'V(M'/$9'(O,(!&V'&$60
LT(J8$&,()T*
(
!
P-4QRS!-!E4:=BD%C;4C6;DF%7;43%L%4<%0<1D2??36<DJ%PB6<%
DB6%!%;1D%0<1D2??36<D%76??%5:6G%-%505%<4D%C2FJ%+01%5676<16%A21%DB2D%
B6%505%<4D%B2K6%34<6FG%2<5%B6%DB6;674;6%C?62565%03C4110E0?0DF%
47%C6;74;32<86J%]%%V$S!"1%-%6M8:165%7;43%B01%4E?0=2D04<d
%
!
TN?=S%-4J%`6;6%C68:<02;F%0<2E0?0DF%D4%C2F%5461%<4D%501H
8B2;=6%2<%4E?0=2D04<%D4%C2FG%<4;%5461%0D%84<1D0D:D6%2<F%5676<16%
D4%2%568;66%74;%1C680!%8%C6;74;32<86J%*B6%1D2E0?0DF%47%84336;802?%
D;2<128D04<1%;69:0;61%DB2D%DB6%;0=BD1%47%DB6%16??6;%E6%C;4D68D65%
R:1D%21%67768D0K6?F%21%DB6%;0=BD1%47%DB6%E:F6;J
(
!"#,( ))++,( E8'( 1=&$:4#$12( #1( :$O'( 4( 9'#'"<$24#'( #8$2:(
$2%&69'0(#84#(1;(9'&$O'"$2:(4&&($#0(4%%'00$120(429(4%%'001"$'03(
'O'2(#816:8(#8'.(<4.(21#(84O'(=''2(<'2#$12'9,(
@ABBCDEF
G)H( `84#(#8'(A=&$:4#$12(#1(Q$O'(4(I'#'"<$24#'(E8$2:(>2%&69'0
%
!
NJ<O(6$S
!
%
"7% "% 23% 4E?0=65% D4% 56?0K6;% 2% C2;D08:?2;% 82;G% "% 3:1D% 2?14%
=0K6%DB6%2886114;061%>?0_6%DB6%VR28_X@J%"7%"%23%4E?0=65%D4%56?0K6;%
//Z
%
S;DJ%//Ua
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2%C0686%47%?2<5G%"%3:1D%=0K6%2?14%DB6%<&&$%%'*+%%>?0_6%2%E:0?50<=%
84<1D;:8D65%DB6;64<@J%>*B01%01%D;:6%6K6<%07%<4%36<D04<%47%DB63%
A21%3256%0<%DB6%84<D;28DJ@
GKH( !%%'001"$'0%h%DB416%R40<65%D4%4;%0<8?:565%A0DB%DB6%C;0<80C2?%
74;%DB6%?2DD6;L1%E6DD6;%:16G%C6;768D04<G%4;%6<R4F36<DJ%>NJ<O(6$%S!
DB6%M$K%%D4%2%B4:16G%DB6%7'%W$%%0<%2%;61D2:;2<DJ@
GLH( !%%'00$120%h%2550D04<1%D4%4;%03C;4K636<D1%:C4<%2%DB0<=J%*B616%
0<8?:56%<66V5'VO!>140?%=;25:2??F%56C410D65%EF%DB6%8:;;6<D%47%2%
;0K6;%4<%2%;0K6;%E2<_@%2<5%AB2D6K6;%01%@V'6)2!(6<+)$72!*#!%*X+!
4<%2%C6;14<L1%C2;86?%47%?2<5J
%
%
>9HQNS%(K6<%07%DB6%A0<54A1%47%2%E:0?50<=%B2K6%E66<%D63H
C4;2;0?F%;634K65G%DB6F%1B4:?5%1D0??%E6%0<8?:565J@
GUH( C;;'%#(1;([#$/6&4#$12
%
%
&7%84:;16G%07%DB6;6%01%2%%)'(V6<)'*+!D4%1205%67768DG%28861104<1%
2<5%2886114;061%54%<4D%B2K6%D4%E6%0<8?:565J
(
!"#,())+X,(>;(4(/'"012(1=&$:'9(#1(91(01<'#8$2:(;4$&0(#1(91(
$#3(#8'(04<'(084&&(='('b'%6#'9(4#(8$0(%10#,
(
E8$0(04<'("6&'(084&&(='(1=0'"O'9($;(8'(91'0($#($2(%12#"4?
O'2#$12(1;(#8'(#'21"(1;(#8'(1=&$:4#$12,(P6"#8'"<1"'3($#(<4.(='(
9'%"''9(#84#(784#(840(=''2(/11"&.(912'(='(62912',
@ABBCDEF
G)H( J10$#$O'(J'"0124&(A=&$:4#$120
%
%
*B6%!%;1D%16<D6<86%47%DB6%S;D08?6%562?1%A0DB%2%(*%')'5$!($#A
%*+<6!4E?0=2D04<%>*&%'&@J
GKH( M'<'9$'0(1;(@"'9$#1"($;(I'=#1"(P4$&0(#1(I1
>2@% *4%B2K6%DB6%4E?0=2D04<%C6;74;365%>EF%B0316?7%4;%EF%2<4DB6;@%
2D%56ED4;L1%6MC6<16%>4<?F%07%<+*)W$#%82<%54%DB6%C6;74;32<86@J%
,R$$!4W<5$d!5.!B*+d<6$%2!?AIG:;:2!-(#.!F02!/DG08.
>E@% -6%*%h%D4%4ED20<%7<O<e$%.!,-#).!//G02!4'5'6!4*7$8.!>'23H
2=61%2?4<6%82<<4D%1:E1D0D:D6%74;%C6;74;32<86%07%4A<6;1%82<%
/NT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//Ua
54%0DW%07%C:;6?F%C6;14<2?%4;%1C6802?%h%21%2%C20<D0<=%D4%E6%
54<6%EF%2%;6C:D65%2;D01D%h%4<?F%7<O<e$%!32F%E6%21_65G%
:<?611%1:E1D0D:D04<%01%C6;30DD65J@
%
%
>9HQNS% .C680708% C6;74;32<86% 01% +*)% 2% ;6365F% 0<%
C6;14<2?%4E?0=2D04<1W%4DB6;A016G%DB01%32F%234:<D%D4%0<K4?H
:<D2;F%16;K0D:56G%AB08B%21%2%;:?6%01%C;4B0E0D65%:<56;%4:;%
!4<1D0D:D04<J@
%
%
j9HQNS%S%C2;DF%D4%2<%2=;6636<D%D4%32;;F%AB4%E28_1%
4:D%82<<4D%E6%B6?5%?02E?6%74;%DB6%8;036%47%%6<+7$#!@K!7$$7%
74;%DB6<%DB2D%A4:?5%E6%2<%0<50;68D%A2F%47%843C6??0<=%1205%
C2;DF%D4%=4%0<D4%2%32;;02=6%A0DB4:D%B01%4;%B6;%7;66%84<16<DG%
2<5%DB01%A4:?5%84<D;2K6<6%DB6%C;0<80C?6%0<%?2A%DB2D%AB2D%
82<<4D%E6%54<6%50;68D?F%1B4:?5%-&*%E6%54<6%0<50;68D?FW%2<5%
1205%C2;DF%DB6;674;6%B21%DB6%;0=BD%D4%2K405%74;%B0316?7%4;%
B6;16?7%DB6%6K0?%47%=40<=%DB;:%2%?4K6?611%32;;02=6G%C:;1:H
2<D%D4%S;DJ%//G%C2;J%\%47%DB6%b6K0165%,6<2?%!456J%,"$*(6$!5.!
T$#+<+7$d2!$)!<6.2!;;!H.B.2!(.!3:;12!4-8Jk
(
(
@84O'V(O,(Q12V4&'0
N?KXUSU3(!/",(L*3()TX*
(
!
P-4QRS!S%DFC6A;0D6;%4A<6;%56?0K6;65%DB6%1236%D4%2%
;6C20;32<%74;%;6C20;1%2=;665%:C4<%4;2??FJ%'61C0D6%;6C62D65%
5632<51G%<4%A4;_%A21%54<6%DB6;64<J%(K6<D:2??F%DB6%;6H
C20;32<% ;6D:;<65% DB6% 328B0<6G% :<;6C20;65% 2<5% A4;16G%
16K6;2?%C2;D1%A6;6%30110<=G%DB:1%DB6%5618;0CD04<%V82<<0E2?H
0[65%2<5%:<;6C20;65JX%*B6%4A<6;%A21%DB6<%84<1D;20<65%D4%
B2K6%DB6%DFC6A;0D6;%;6C20;65%0<%2<4DB6;%1B4CJ%&A<6;%<4A%
8?2031%5232=61%7;43%DB6%!%;1D%;6C20;32<%>74;%DB6%841D%47%
DB6%;6C20;1%2<5%DB6%841D%47%DB6%30110<=%C2;D1@J%'676<52<D%
;6C20;32<G%B4A6K6;G%2??6=61%DB2D%4A<6;%1B4:?5%B2K6%!%;1D%
!%?65%2%C6D0D04<%74;%DB6%84:;D%D4%!%M%DB6%C6;045%A0DB0<%AB08B%
DB6%R4E%47%;6C20;0<=%A21%D4%E6%!%<01B65J
%
!
]RR^NRS
>2@% !2<%DB6%5676<52<D%E6%B6?5%?02E?6%74;%5232=61d
>E@% +4A%2E4:D%DB6%720?:;6%47%DB6%4A<6;%D4%!%;1D%21_%
DB6%84:;D%74;%DB6%!%M0<=%47%DB6%C6;045d
/N/
%
S;DJ%//UY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
TN?=S
>2@% e61G%DB6%5676<52<D%82<%E6%B6?5%74;%5232=61%2<5%DB01%
A4:?5%0<8?:56%DB6%841D%47%?2E4;%2<5%<66565%32D6;02?1G%
21%A6??%21%DB6%K2?:6%47%DB6%30110<=%C2;D1J%S884;50<=%
D4%S;DJ%//Ua%h%V"7%2%C6;14<%4E?0=65%D4%54%1436DB0<=%
720?1%D4%54%0DG%DB6%1236%1B2??%E6%6M68:D65%2D%B01%841DJ%
*B6%1236%;:?6%1B2??%E6%4E16;K65%07%B6%5461%0D%0<%84<H
D;2K6<D04<%47%DB6%D6<4;%47%DB6%4E?0=2D04<JX
>E@% *B6% 720?:;6% 47% DB6% 4A<6;% 47% DB6% 843C:D6;% <4D6E44_%
D4%!%;1D%21_%DB6%84:;D%74;%2%!%M0<=%47%DB6%C6;045%A0DB0<%
AB08B%DB6%;6C20;1%A6;6%D4%E6%54<6%01%47%<4%10=<0!%82<86J%
"<%K06A%47%B01%;6D:;<0<=%47%DB6%328B0<6G%DB6%D036%74;%
843C?02<86%32F%E6%566365%D4%B2K6%2?;625F%6MC0;65J%
*B6;6%01G%DB6;674;6G%<4%34;6%C6;045%D4%E6%!%M65G%DB6;6%
2?;625F%E60<=%2%E;628B%47%84<D;28D%EF%+*+A($#>*#OA
<+&$J%.205%<4<HC6;74;32<86%32F%E6%1205%D4%B2K6%E66<%
03C?065?F%2530DD65%AB6<%DB6%<4D6E44_%A21%;6D:;<65%
:<;6C20;65%2<5%A0DB%1436%47%0D1%6116<D02?%C2;D1%3011H
0<=J
GLH( `8'2(4(E8$2:(B4.(-'(A"9'"'9(d2912'
>2@% 07%3256%C44;?F%,-#).!//1G8!>+6;6%($#>*#O<+&$!EF%<+*)W$#!
2<5%7<O<e$%%32F%E6%5632<565@J
>E@% 07%DB6%4E?0=2D04<%01%2%+$e<)'5$!4<6%>C;4K0565%DB6%V+7*'+e%01%
C4110E?6@J
(
!"#,())+R,(`8'2(#8'(1=&$:4#$12(%120$0#0($2(21#(91$2:3(429(
#8'(1=&$:1"(91'0(784#(840(=''2(;1"=$99'2(8$<3($#(084&&(4&01(='(
62912'(4#(8$0('b/'20',(
@ABBCDEF
(
D':4#$O'(J'"0124&(A=&$:4#$120
>2@% *B01%S;D08?6%;676;1%D4%2%+$e<)'5$!C6;14<2?%4E?0=2D04<J
>E@% S1%2%;:?6G%DB6%;6365F%01%DB6%V+7*'+e%47%DB6%C;4B0E0D65%DB0<=%
(6V%!7<O<e$%.!,R$$!-#).!//G02!4'5'6!4*7$8.
/NN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//UZ
!
!"#,( ))+T,( E810'( 1=&$:'9( #1( 9'&$O'"( 1"( #1( 91( 01<'#8$2:(
$2%6"($2(9'&4.(;"1<(#8'(#$<'(#8'(1=&$:''(_69$%$4&&.(1"('b#"4?
_69$%$4&&.(9'<4290(;"1<(#8'<(#8'(;6&!(&&<'2#(1;(#8'$"(1=&$:4?
#$12,
(
a17'O'"3(#8'(9'<429(=.(#8'(%"'9$#1"(084&&(21#(='(2'%'0?
04".($2(1"9'"(#84#(9'&4.(<4.('b$0#F
(
1"
G)H( `8'2(#8'(1=&$:4#$12(1"(#8'(&47('b/"'00&.(01(9'%&4"'0c(
(
GKH( `8'2(;"1<(#8'(24#6"'(429(#8'(%$"%6<0#42%'0(1;(#8'(
1=&$:4#$12($#(4//'4"0(#84#(#8'(9'0$:24#$12(1;(#8'(#$<'(78'2(#8'(
#8$2:($0(#1(='(9'&$O'"'9(1"(#8'(0'"O$%'($0(#1(='("'29'"'9(740(4(
%12#"1&&$2:(<1#$O'(;1"(#8'('0#4=&$08<'2#(1;(#8'(%12#"4%#c(1"
(
GLH( `8'2(9'<429(716&9(='(60'&'003(40(78'2(#8'(1=&$:1"(
840("'29'"'9($#(='.129(8$0(/17'"(#1(/'";1"<,
(
>2("'%$/"1%4&(1=&$:4#$1203(2'$#8'"(/4"#.($2%6"0($2(9'&4.(
$;(#8'(1#8'"(91'0(21#(%1</&.(1"($0(21#("'49.(#1(%1</&.($2(4(
/"1/'"(<422'"(7$#8(784#($0($2%6<='2#(6/12(8$<,(P"1<(#8'(
<1<'2#(12'(1;(#8'(/4"#$'0(;6&!(&&0(8$0(1=&$:4#$123(9'&4.(=.(#8'(
1#8'"(=':$20,
@ABBCDEF
G)H( I';46&#(1"(B1"4
(
%
S?DB4:=B%S;DJ%//UZ%:161%DB6%A4;51%V0<%56?2FGX%DB616%1B4:?5%
E6%D;2<1?2D65%D4%362<%7$><V6)%,EHC-8.
GKH( D'%'00$#.($2(Q'2'"4&(1;(I'<429
(
%
*4%C:D%2%56ED4;%0<%7$><V6)G%21%2%;:?6G%'(`S-'%01%<66565J%
*B6%5632<5%32F%E6%UV7'&'<6G%21%AB6<%2%843C?20<D%74;%1C680!%8%
C6;74;32<86% 01% !%?65W% 4;% $J)#<UV7'&'<62! A0DB4:D% 84:;D% C;48665H
0<=1J
GLH( `8'2(I'<429(>0(D1#(D''9'9(#1(J6#(I'=#1"($2(I';46&#
>2@% PB6<%DB6%6<X%14%C;4K0561J%>NJ<O(6$S%*2M61%1B4:?5%E6%C205%
A0DB0<%2%56!%<0D6%C6;045G%4DB6;A016%C6<2?D061%2;6%03C4165%
A0DB4:D%<665%47%5632<5%74;%C2F36<DJ@
/NQ
%
S;DJ%//UZ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
>E@% PB6<%DB6%*@6'e<)'*+%6MC;611?F%14%C;4K0561J
%
!
_9HQNS!*B6%36;6%!%M0<=%47%DB6%C6;045%01%<4D%6<4:=BW%
DB6;6% 3:1D% E6% 2% (#*5'%'*+% DB2D% 07% C2F36<D% 01% <4D% 3256%
AB6<% 5:6G% 7$><V6)% 4;% ?02E0?0DF% 74;% 5232=61% 4;% 0<D6;61D1%
2:D432D082??F%2;0161J%,R$$!=$!6<!C*%<!5.!L<+M!*>!".].2!;/!
"W'6.!DI18.`
%
!
>9HQNS! *B6% 84<D;2;F% ;:?0<=% 0<% R'V6*+e! <+7! 4*.! 5.!
[6<e<+2!:F!"W'6.!FDF2%01%A;4<=J@
>8@%
PB6<%D036%01%47%DB6%6116<86%47%DB6%84<D;28D%>4;%AB6<%DB6%
!%M0<=%47%DB6%D036%A21%DB6%84<D;4??0<=%34D0K6%74;%DB6%61D2EH
?01B36<D%47%DB6%84<D;28D@J
%
!
NJ<O(6$%S%*B6%32_0<=%47%2%A6550<=%5;611G%07%DB6%A65H
50<=%01%18B65:?65%2D%DB6%D036%DB6%5;611%01%5:6W%2=;08:?D:;2?%
84<D;28D1% AB6;6% 03C?636<D1% 2;6% <66565% 2D% 2% C2;D08:?2;%
D036W%DB6%16??0<=%47%?2<5%A0DB%C2F36<D%2D%1C680!%65%D036G%14%
DB2D%DB6%16??6;%84:?5%C2F%477%86;D20<%56ED1%DB2D%A6;6%5:6%4<%
1205%52D6%,-@$66<!5.!P#<+&'%&*2!;;!"W'6.!::G8i!34<6F%<66565%
D4% !%<2<86% 30<0<=% 0<1D2??2D04<1% 07% 1205% 0<1D2??2D04<1% B25%
D4%E6%3256%4<%2%86;D20<%52D6J%,T<+6*+!5.!T<V%%$#O<+2!:0!
"W'6.!GD18.
!
!
_9HQNS!"D%01%<4D%6116<D02?%74;%DB6%84<D;28D%D4%82D6=4;0H
82??F%1D2D6%DB2D%D036%01%47%DB6%6116<86W%DB6%'+)$+)!01%1:7!%H
806<D%21%?4<=%21%DB01%01%03C?065J%,T<+6*+!5.!T<V%%$#O<+2!
RV(#<.8`
>5@% PB6<%5632<5%A4:?5%E6%V%$6$%%G%21%AB6<%DB6%4E?0=4;%B21%
;6<56;65%0D%E6F4<5%B01%C4A6;%D4%C6;74;3J%>NJ<O(6$%S%PB6<%
E674;6%DB6%32D:;0DFG%DB6%16??6;%B21%7'%(*%$7%47%0D%0<%72K4;%
47%2<4DB6;G%4;%B21%561D;4F65%DB6%1:ER68D%32DD6;G%4;%01%B05H
0<=J@
>6@% PB6<%DB6%4E?0=4;%B21%6MC;611?F%28_<4A?65=65%DB2D%B6%;62??F%
01%0<%5672:?D%>O:D%0D%1B4:?5%E6%<4D65%DB2D%B01%O$#$!<%M'+e%
74;%6MD6<104<%47%D036%01%<4D%2<%6MC;611%28_<4A?65=36<D%47%
DB6%6M01D6<86%47%5672:?D%4<%B01%C2;D@J%,R$$!F!R<65<)!1:8.
GUH( I$;;'"'2#(l$290(1;(B1"4
>2@% O*#<!%*65$+7'%>5672:?D%4<%DB6%C2;D%47%DB6%7$@)*#@
/N\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//UZ
/@%
O*#<!%*65$+7'!$J!#$%>56ED4;L1%5672:?D%0<%#$<6!*@6'e<A
)'*+%@
N@%
O*#<!%*65$+7'!$J!($#%*+<!>56ED4;L1%5672:?D%0<%($#%*+<6!
*@6'e<)'*+%@
>E@% O*#<!<&&'('$+7'!>5672:?D%4<%DB6%C2;D%47%DB6%&#$7')*#@
>8@%
&*O($+%<)'*!O*#<$!>AB6<%0<%<!#$&'(#*&<6!*@6'e<)'*+!@*)W!
(<#)'$%! 2;6% 0<% 5672:?DW% B6;6% 0D% 01% 21% 07% +$')W$#! 01% 0<% 56H
72:?D@J
GSH( B1"4([1&O'29$
>2@% *B6;6%01%<4%O*#<!%*65$+7'%0<%<6=2D0K6%4E?0=2D04<1%>4<6%82<H
<4D%E6%6<)$!0<%+*)!7*'+e%4;%e'5'+e@J
>E@% *B6;6%01%<4%O*#<!0<%+<)V#<6%4E?0=2D04<1J
>8@%
b69:010D61%74;%O*#<!%*65$+7'S
/@%
*B6%4E?0=2D04<%3:1D%E6%5:6G%6<74;862E?6G%2<5%2?;625F%
?09:052D65%4;%56D6;30<2D6%0<%234:<DJ%,QR2!E<#.!/;2!
/DI18.
N@%
*B6;6%3:1D%E6%<4<HC6;74;32<86J
Q@%
*B6;6%3:1D%E6%2%5632<5G%:<?611%DB6%5632<5%01%<4D%
;69:0;65% >21% 2?;625F% 5018:1165@J% >PB6<% 5632<5% 01%
<66565G%C;447%47%0D%3:1D%E6%1B4A<%EF%DB6%8;650D4;@J%,3!
E<+#$%<!1/8.
!
!
_9HQNS%S%36;6%;630<56;G%?0_6%V*B01%01%D4%;630<5%
F4:%DB2D%F4:;%<6MD%0<1D2??36<D%72??1%5:6%4<%^2<J%aG%
NTT]GX%01%+*)!2%5632<5%E682:16%74;%2??%DB2D%A6%_<4AG%
?2D6<611% 32F% 1D0??% E6% D4?6;2D65% EF% DB6% 8;650D4;J% ,I!
4<%)<+!;I38.`
\@%
*B6%5632<5%3:1D%E6%74;%DB6%4E?0=2D04<%DB2D%01%5:6%
>2<5%<4D%74;%2<4DB6;%4E?0=2D04<G%<4;%4<6%A0DB%2%E0==6;%
234:<DG%6M86CD%0<%86;D20<%0<1D2<861G%84<1056;0<=%2??%
DB6%80;8:31D2<861@J%,R$$!QR2!a<+.!/D/08.
>5@% N>>$&)%!*>!E*#<!R*65$+7'
/@%
"7%DB6%56ED4;%01%0<%5672:?DG%B6%32F%E6%?02E?6%74;%0<D6;61D%
4;%5232=61J
/N]
%
S;DJ%//UZ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
N@%
+6%32F%2?14%B2K6%D4%E62;%DB6%;01_%47%?411J
%
>"<%E4DB%82161G%0D%01G%B4A6K6;G%6116<D02?%DB2D%B01%E60<=%
0<%5672:?D%01%2DD;0E:D2E?6%D4%B01%4A<%72:?DJ@
Q@%
+6%01%?02E?6%6K6<%74;%2%74;D:0D4:1%6K6<D%,-#).!//1;2!4'5'6!
4*7$82%2?DB4:=B%5232=61%B6;6%32F%E6%O')'e<)$7!07%B6%
82<%C;4K6%DB2D%6K6<%07%B6%B25%<4D%E66<%0<%5672:?DG%?411%
A4:?5%B2K6%488:;;65%R:1D%DB6%1236J%,-#).!II/;2!4'5'6!
4*7$8.
>6@% "<%2%C:;8B216%EF%0<1D2??36<D1G%DB6%84<D;28D%32F%C;4K056%
74;%2<%V2886?6;2D04<%8?2:16X%>2%8?2:16%AB08B%A4:?5%32_6%<66!
0<1D2??36<D1%5:6G%:C4<%5672:?D%0<%*+$!0<1D2??36<D@J%=$><V6)%
0<%DB6%C2F36<D%47%4<6%0<1D2??36<D%5461%<4D%362<%5672:?D%
0<%DB6%XW*6$%234:<DJ%"7%DB6;6%01%2<%2886?6;2D04<%8?2:16G%2??%
DB2D%B2CC6<1%A0??%E6%DB2D%DB6%XW*6$%234:<D%E684361%5:6J%
S<5%5632<5%01%1D0??%<66565%D4%C:D%DB6%56ED4;%0<%5672:?DJ%
,R$$!hV$@6<#!5.!B<#7V+*!b!E<#)'+$d2!1I!"W'6.!3DG8.
G+H( B1"4(!%%$/$'29$
>2@% *B6% 8;650D4;% 01% =:0?DF% 47% 5672:?D% AB6<% B6% V+UV%)'!!<@6K!
;67:161%D4%2886CD%C2F36<D%4;%C6;74;32<86%2D%DB6%D036%1205%
C2F36<D% 4;% C6;74;32<86% 82<% E6% 54<6J% .436% UV%)'!!<@6$!
;6214<1%74;%;67:12?%D4%2886CD%32F%E6%DB2D%DB6%C2F4;%B21%<4%
?6=2?%82C280DF%4;%DB2D%DB6;6%01%2<%4776;%D4%C2F%2<%4E?0=2D04<%
*)W$#!DB2<%AB2D%B21%E66<%2=;665%:C4<J
>E@% "7%2<%4E?0=2D04<%2;0161%$J!7$6'&)*%>21%DB6%;61:?D%47%2%8;036@G%
DB6% 56ED4;H8;030<2?% 01% ;61C4<10E?6% 74;% ?411G% 6K6<% DB4:=B%
DB01%E6%DB;4:=B%2%74;D:0D4:1%6K6<DG%:<?611%DB6%8;650D4;%01%
0<%O*#<!<&&'('$+7'J%*B6%?2A%12F1I
%
%
VPB6<%DB6%56ED%47%2%DB0<=%86;D20<%2<5%56D6;30<2D6%
C;486651%7;43%2%8;030<2?%4776<16G%DB6%56ED4;%1B2??%<4D%E6%
6M63CD65% 7;43% DB6% C2F36<D% 47% 0D1% C;086G% AB2D6K6;% 32F%
E6%DB6%82:16%74;%DB6%?411G%:<?611%DB6%DB0<=%B2K0<=%E66<%47H
76;65%EF%B03%D4%DB6%C6;14<%AB4%1B4:?5%;6860K6%0DG%DB6%?2DD6;%
;67:165%A0DB4:D%R:1D0!%82D04<%D4%2886CD%0DJX%,-#).!/I132!4'5'6!
4*7$8.
%
!
_9HQNS!PB2D%1B4:?5%DB6%8;030<2?%54%07%DB6%8;650D4;%
01%0<%O*#<!<&&'('$+7'd
/NU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
>8@%
S;DJ%//UZ
!
-9R.S%+6%3:1D%60DB6;I
/@%
84<10=<% 0D% 0<% 84:;D% >6MC6<161% 8B2;=62E?6% D4% 8;650H
D4;@W
N@%
4;%_66C%0D%B0316?7%>B6;6%B6%1B4:?5%1D0??%6M6;8016%50?0H
=6<86%2<5%82;6G%E:D%DB01%D036G%B6%A4:?5%<4D%E6%?02E?6%
74;% ?411% 5:6% D4% 2% 74;D:0D4:1% 6K6<D@J% ,R$$! I! E<+#$%<!
F1/8J%>$411%DB;:%;4EE6;F%A0DB%K04?6<86%01%2%74;D:0D4:1%
6K6<D%C;4K0565%DB2D%DB6%K04?6<86%4;%0<D03052D04<%A21%
0;;6101D0E?6%4;%=;2K6J@k
*B6%03C;4C6;%;67:12?%47%DB6%?6114;%>8;650D4;@%D4%2886CD%DB6%
;6<D1%D6<56;65%EF%DB6%?61166%C?2861%1205%?6114;%0<%5672:?D%
,O*#<8%2<5%B6%3:1D%1B4:?56;%DB6%1:E169:6<D%288056<D2?%?411%
47%DB6%C;630161%?62165J%*B6%O*#<!<&&'('$+7'!47%1205%?6114;%
01%+*)!8:;65%EF%DB6%?61166L1%720?:;6%D4%32_6%84<10=<2D04<%47%
DB6%;6R68D65%C2F36<D1G%E:D%DB6%?61166%;6320<1%4E?0=2D65%
D4%C2F%DB6%234:<D1%B6%B25%D6<56;65%E:D%505%<4D%56C410D%
0<%84:;DJ%,j7<.!7$!j'66<#V$62!$)!<6.!5.!E<+'6<!E*)*#!4*.!b!
4<6*+'<#$%2!?A/0FD:2!=$&.!F2!/D;38.
GXH( M'%$/"1%4&(A=&$:4#$120
>2@% b680C;482?%4E?0=2D04<1%56C6<5%:C4<%628B%4DB6;%74;%C6;74;3H
2<86J% >NJ<O(6$S! "<% 2% 12?6% DB6% E:F6;% 3:1D% ,SeG% 2<5% DB6%
16??6;%3:1D%'($"#(bJ@
>E@% +6;6%C6;74;32<86%32F%E6%16D%4<%7'>>$#$+)!7<)$%.
!
_NJ<O(6$!g!7$6'5$#K!4<%'68J%ZG%NTT]W%2<5%(<KO$+)!4<%'68J%
/QG%NTT]J%*4%C:D%DB6%16??6;%0<%5672:?DG%5632<5%21%2%;:?6%3:1D%
E6%3256J%'6?0K6;FG%:C4<%DB6%4DB6;%B2<5G%5461%<4D%C:D%DB6%
E:F6;%0<%5672:?DG%D0??%27D6;%5632<5G%:<?611%5632<5%01%<4D%
;69:0;65J%*B01%01%E682:16G%0<%DB6%6M23C?6%=0K6<G%50776;6<D%
C6;0451% 74;% C6;74;32<86% A6;6% =0K6<J% ,R$$! 3! E<+#$%<! 1FA
1:8.`
>8@%
"7%DB6%C6;74;32<86%01%+*)!%$)!4<%50776;6<D%52D61G%60DB6;%EF%
DB6% ?2AG% 84<D;28DG% 4;% 8:1D43G% 0D% 01% :<56;1D445% DB2D% C6;H
74;32<86%3:1D%E6%%'OV6)<+$*V%.%+6<86G%4<6%C2;DF%82<<4D%
5632<5%C6;74;32<86%EF%DB6%4DB6;G%07%DB6%74;36;%B0316?7%
82<<4D%C6;74;3J%S<5%AB6<%<60DB6;%B21%C6;74;365G%DB6;6%
01%&*O($+%<)'*!O*#<$!>7$><V6)!4<%DB6%C2;D%47%E4DBW%14%0D%01%
21%07%<4%4<6%01%0<%5672:?D@J%"7%4<6%C2;DF%C6;74;31G%2<5%DB6%
/Na
%
S;DJ%//UZ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
4DB6;%5461%<4DG%DB6%?2DD6;%A4:?5%E6%0<%5672:?DJ%,R$$!BV)'$#A
#$d!T$#O<+*%!5.!H#'<!T$#O<+*%2!F0!"W'6.!:D/8.
(
(
(
B4"$421(M19"$:6'V3('#(4&,(O,(
J1"!("$1(-'&:$%43('#(4&,
N?)*R*)3(P'=,(KR3()T+)
(
!
P-4QRS%b45;0=:6[%2<5%O6?=082%A6;6%84H4A<6;1%47%?2<5%
0<% DB6% C;4C4;D04<% 47% YUo% 2<5% /\oG% ;61C68D0K6?FJ% O6?=082%
4A65% b45;0=:6[% ,QTGTTTJ% *4% 6<2E?6% O6?=082% D4% C2F% 0DG% 0D%
A21%3:D:2??F%2=;665%DB2D%b45;0=:6[%A4:?5%=;2<D%2:DB4;H
0DF%D4%O6?=082%D4%16??%4;%34;D=2=6%A0DB0<%aT%52F1%QUo%47%
DB6%?2<5G%14%DB2D%O6?=082%A4:?5%E6%2E?6%D4%;2016%DB6%34<6F%
74;%C2F36<D%47%DB6%?42<J%]%%V$S!);43%AB2D%D036%1B4:?5%DB6%
aTH52F%C6;045%E6=0<%D4%;:<d
%
!
TN?=S% *B6% C6;045% 84336<861% 7;43% DB6% D036% b45H
;0=:6[%=;2<D1%1205%2:DB4;0DF%D4%O6?=082J%)4;%DB01%C2;D2_61%
47%2%;680C;482?%4E?0=2D04<%h%DB6%=;2<D0<=%47%DB6%2:DB4;0DF%
2<5%DB6%C2F36<D%47%DB6%?42<J%P0DB4:D%1:8B%2:DB4;0DFG%0D%
A21% 507!%8:?DG% 07% <4D% 03C4110E?6G% 74;% O6?=082% D4% 4ED20<% DB6%
<66565%,QTGTTTJ%*B01%A21%E682:16%B6%4A<65%4<?F%/\o%47%
DB6%?2<5J
GRH( `8'2(I4<4:'0(1"(>2#'"'0#(B4.(-'(N10#
%
%
S%8;650D4;%6<D0D?65%D4%5232=61%4;%0<D6;61D%E682:16%47%EHC-%
32F%?416%DB6%1236%h
>2@% "7%DB6%(#'+&'(<6!4E?0=2D04<%01%2??4A65%D4%?2C16%EF%C;618;0CH
D04<W
>E@% "7%DB6%7<O<e$%!4;%'+)$#$%)!2;6%2??4A65%D4%C;618;0E6W
>8@%
"7%DB6%5232=61%4;%0<D6;61D%2;6%&*+7*+$7%>A20K65%4;%;630DH
D65@J
GTH( [1<'(I'%$9'9(@40'0
(
(
@1</42$4(Q'2'"4&(9'(E4=4%10(O,(!"4V4
X(J8$&,(USS
(
%
"7%2%56ED%01%<4D%C205%2D%DB6%1D0C:?2D65%C6;045G%0<D6;61D%>21%
5232=61@%1B4:?5%E6%8B2;=65%<4D%7;43%DB6%52D6%47%32D:;0DFG%E:D%
/NY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//UZ
7;43%DB6%D036%DB6%UV7'&'<6!<&)'*+%01%!%?65G%0<%8216%+*%6MD;2R:50802?%
5632<5%A21%3256J
(
(
J"$%'3(>2%,(O,(M$&&1"4V43('#(4&,
N?RK*SL3(B4.(KS3()TSS
(
!
P-4QRS%S%D6<2<D%?62165%2%?2<5%4<%DB6%?2<5?4;5L1%C;43016%
DB2D%DB6%?2DD6;%A4:?5%32_6%03C;4K636<D1%4<%DB6%C;4C6;DF%?62165J%
PB6<%DB6%?2<5?4;5%505%<4D%32_6%DB6%03C;4K636<D1G%DB6%D6<2<D%
%V$7!>*#!%($&'!!&!($#>*#O<+&$2%DB2D%01G%D4%32_6%DB6%?2<5?4;5%54%DB6%
03C;4K636<D1J%*B;66%52F1%?2D6;G%DB6%?2<5?4;5%1:65%74;%:<?2A7:?%
56D20<6;%74;%<4<HC2F36<D%47%;6<DJ
%
!
TN?=S!*B01%01%;680C;482?%4E?0=2D04<G%2<5%10<86%<4%03C;4K6H
36<D1%B2K6%F6D%E66<%3256G%DB6%?2<5?4;5%82<<4D%5632<5%;6<D1%
2<5% DB6% D6<2<D% 01% <4D% F6D% 0<% 5672:?DG% 2<5% DB6;674;6% :<?2A7:?%
56D20<6;%&<++*)!(#*%($#J
(
(
]6'=&4"(O,(Q4"9621(429(B4"#$2'V
+K(J8$&,(RXT
(
!
P-4QRS%S!56ED%A21%C2F2E?6%0<%0<1D2??36<D1J%"D%A21%2?14%
2=;665%DB2D%07%2<F%0<1D2??36<D%A21%<4D%C205%4<%D036G%DB6%XW*6$%
56ED%A4:?5%O<)V#$!>2886?6;2D04<%8?2:16@J%*B6%56ED4;%505%<4D%C2F%
4<6%0<1D2??36<D%4<%D036J%S7D6;%1436%D036G%E682:16%DB6%56ED4;%
505%<4D%C2F%DB6%AB4?6%56EDG%DB6%8;650D4;%E;4:=BD%DB01%28D04<J%]%A
%V$S!);43%AB2D%D036%A21%DB6%56ED4;%0<%5672:?DG%7;43%DB6%D036%
DB6%0<1D2??36<D%A21%<4D%C205%2D%DB6%1D0C:?2D65%52D6G%4;%7;43%DB6%
D036%DB6%28D04<%A21%!%?65d%>*B01%A21%6116<D02?%D4%56D6;30<6%DB6%
843C:D2D04<%47%0<D6;61DJ@
%
!
TN?=S!);43%DB6%D036%5632<5%A21%3256%EF%DB6%!%?0<=%47%
DB6%28D04<G%DB6;6%B2K0<=%E66<%<4%C;6K04:1%6MD;2R:50802?%5632<5J%
+6<86G%0<D6;61D%21%5232=61%1B4:?5%E6=0<%4<?F%7;43%DB2D%52D6J%
C$<%*+S!"D%01%D;:6%DB2D%DB6;6%A21%2<%2886?6;2D04<%8?2:16G%2<5%DB01%
01%ABF%DB6%8;650D4;%01%<4A%6<D0D?65%D4%;684K6;%DB6%AB4?6%56EDJ%O:D%
DB6%84<D;28D%7'7!+*)!%<K!DB2D%720?:;6%D4%C2F%4<6%0<1D2??36<D%A4:?5%
C:D%DB6%56ED4;%0<%5672:?DJ%+6<86G%5632<5%A21%1D0??%6116<D02?J
(
(
@460$2:(O,(-'2%'"
LX(J8$&,(U)X
(
!
P-4QRS% ,?20<D077% -2! 28D0<=% 21% =:2;502<% 47% 1436% 30<4;1G%
2=;665%D4%16??%D4%5676<52<D%L!2%C2;86?%47%?2<5%4A<65%0<%84334<%
/NZ
%
S;DJ%//UZ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
EF%B6;%2<5%B6;%A2;51%4<%DB6%84<50D04<%DB2D%-!A4:?5%!%;1D%4ED20<%
R:50802?%2CC;4K2?%A0DB%;6=2;5%D4%DB6%A2;51L%1B2;6J%L!0336502D6?F%
C205% C2;D% 47% DB6% C:;8B216% C;086% 2<5% C;4866565% D4% 488:CF% DB6%
?2<5J%S?DB4:=B%R:50802?%2CC;4K2?%B25%E66<%4ED20<65G%-!505%+*)%
6M68:D6%2%5665%1:7!%806<D%D4%84<K6F%DB6%AB4?6%C2;86?J%"<1D625G%
1B6%21_65%74;%DB6%E2?2<86%47%DB6%C:;8B216%C;086J%)20?0<=%0<%DB01G%
1B6%8B2;=65%L%A0DB%7$><V6)!2<5%<4A%A2<D1%D4%;6180<5%4;%82<86?%
DB6%84<D;28D%4<%DB6%=;4:<5%47%<4<HC2F36<DJ
%
!
TN?=S!"<%;680C;482?%4E?0=2D04<1%?0_6%DB01G%5672:?D%4<%DB6%
C2;D%47%4<6%E6=0<1%4<?F%7;43%DB6%3436<D%DB6%4DB6;%C2;DF%7:?!%??1%
AB2D%01%0<8:3E6<D%:C4<%B03%4;%B6;J%.0<86%DB6%C?20<D077%b:!%<2%
!2:10<=%B21%<4D%F6D%6M68:D65%2%5665%1:7!%806<D%D4%C211%DB6%AB4?6%
61D2D6G%1B6%01%<4D%<4A%0<%2%C410D04<%D4%;6180<5%DB6%84<D;28DJ
(
(
I'(&4(M104(O,(-42\(1;(J,>,
S)(J8$&,(TK+
(
%
(K6<%07%C;0[61%2;6%<4D%501D;0E:D65%4<%DB6%52D6%16D%0<%DB6%;:?61%
47%2%84<D61DG%DB6%1C4<14;0<=%843C2<F%01%<4D%0<%5672:?D%D0??%27D6;%
2%5632<5%01%3256G%74;%4;50<2;0?F%4<6%5461%<4D%6<D6;%2%84<D61D%
R:1D%D4%=6D%DB6%C;0[6%4<%DB6%7<)$!%($&'!!$7.
(
(
B4&4.42(>206"42%'(@1,3(>2%,(O,(@!
QM(STT)T3(D1O,(KS3()TR+
%
%
S%56ED4;%AB4%0<8:;1%0<%56?2F%4;%5672:?D%01%?02E?6%74;%5232=61%
C?:1%0<D6;61DG%=6<6;2??F%7;43%6MD;2R:50802?%4;%R:50802?%5632<5%0<%
DB6%74;3%47%0<D6;61DJ
(
(
[/160'0(J6'"#1(O,(@!
QM()LRK)*3(^62,()L3(K**K
%
!
P-4QRS% ,6D0D04<6;1% 84330DD65% 2% E;628B% 47% 4E?0=2D04<% 0<%
DB60;%;67:12?%D4%C2F%2%1:3%47%34<6F%?42<65J%]%%V$S!&A0<=%D4%1205%
E;628BG%32F%843C6<12D4;F%5232=61%E6%2A2;565d
%
!
TN?=S% e61G% EF% A2F% 07% 2<% 0<D6;61D% 01% DB6% 234:<D% 47% /No%
($#!<++VOG%D4%E6%843C:D65%7;43%5672:?DG%'.$.2%7;43%R:50802?%4;%
6MD;2R:50802?%5632<5%0<%2884;52<86%A0DB%S;DJ%//UZJ
%
%
.:8B%0<D6;61D%01%<4D%5:6%D4%1D0C:?2D04<%b2DB6;%0D%01%5:6%D4%
DB6%=6<6;2?%C;4K0104<%47%?2A%DB2D%0<%4E?0=2D04<%D4%C2F%34<6FW%
/QT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//UZ
AB6;6%DB6%56ED4;%0<8:;1%0<%56?2FG%B6%B21%D4%C2F%0<D6;61D%EF%A2F%
47%5232=61J%,R$$!N<%)$#+!RW'(('+e!?'+$%2!]+&.!5.!4-2!IF:!R4C-!
G3!_/DD:`8.
G)*H( ></10$#$12(1;(>2#'"'0#
(
(
-42:\1(['2#"4&(2:(J$&$/$240(O,([42#4<4"$4(
QM()LTRRS3(^42,()L3(K**L
%
%
"<%N<%)$#+!RW'(('+e!?'+$%2!]+&.!5.!4*V#)!*>!-(($<6%!>NQ\%
.!bS%aY%j/ZZ\k@G%DB6%74??4A0<=%=:056?0<61%B2K6%E66<%?205%54A<%
0<%DB6%03C410D04<%47%0<D6;61DI
%
%
/J% PB6<% 2<% 4E?0=2D04<G% <4D% 84<1D0D:D0<=% 2% ?42<% 4;% 74;H
E62;2<86%47%34<6FG%01%E;628B65G%2<%0<D6;61D%4<%DB6%234:<D%47%
5232=61%2A2;565%32F%E6%03C4165%2D%DB6%84:;DL1%5018;6D04<%A0DB%
Uo%;2D6%($#!<++VO.%-4%0<D6;61DG%B4A6K6;G%1B2??%E6%25R:5=65%4<%
:<?09:052D65%8?2031%4;%5232=61%6M86CD%AB6<%4;%:<D0?%5632<5%
82<%E6%61D2E?01B65%A0DB%;6214<2E?6%86;D20<DFJ%"<%DB6%6K6<D%DB2D%
5632<5%01%61D2E?01B65%A0DB%;6214<2E?6%86;D20<DFG%0<D6;61D%1B2??%
E6=0<%D4%;:<%7;43%DB6%D036%8?203%01%3256%R:50802??F%4;%6MD;2R:H
50802??FJ%,-#).!//1D2!4'5'6!4*7$8.%+4A6K6;G%AB6<%1:8B%86;D20<DF%
82<<4D%E6%14%;6214<2E?F%61D2E?01B65%2D%DB6%D036%5632<5%01%3256G%
0<D6;61D%1B2??%E6=0<%D4%;:<%4<?F%7;43%DB6%52D6%DB6%84:;D%R:5=H
36<D%01%3256%>2D%AB08B%D036G%9:2<D0!%82D04<%47%5232=61%32F%E6%
566365%D4%B2K6%E66<%;6214<2E?F%2186;D20<65@J%S8D:2?%E216%74;%
843C:D2D04<%47%?6=2?%0<D6;61D%1B2??G%01%2<F%8216G%E6%4<%234:<D%
!%<2??F%25R:5=65J
%
%
NJ% PB6<%84:;D%R:5=36<D%2A2;50<=%2%1:3%47%34<6F%E6H
84361%!%<2?%2<5%6M68:D4;FG%DB6%;2D6%47%?6=2?%0<D6;61DG%AB6DB6;%DB6%
8216%72??1%:<56;%C2;J%/%4;%C2;J%N%2E4K6G%1B2??%E6%/No%($#!<++VO%
7;43%1:8B%!%<2?0DF%:<D0?%0D1%12D01728D04<G%DB01%'+)$#'O!C6;045%E60<=%
566365%D4%E6%EF%DB6<%2<%69:0K2?6<D%D4%74;E62;2<86%47%8;650DJ
%
%
.0<86%DB6%8216%2D%E2;%5461%<4D%0<K4?K6%2<F%4E?0=2D04<%2;01H
0<=%7;43%?42<%4;%74;E62;2<86%47%34<6FG%DB6<%0<D6;61D%1B4:?5%E6%
03C4165%21%74??4A1I
%
%
2J% &<% DB6% !%;1D% E0??0<=% 74;% ,\]TGUT\JZU% p% Uo% ($#!
<++VO% 843C:D65% 7;43% DB6% 52D6% 47% 5632<5% 4<% )6EJ% NQG%
/ZZU%AB0?6%2<%0<D6;61D%47%/No%($#!<++VO%1B2??%E6%03C4165%
/Q/
%
S;DJ%//aT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
4<% 1:8B% 234:<D% 7;43% !%<2?0DF% 47% 5680104<% :<D0?% C2F36<D%
DB6;647J
%
%
EJ% &<%DB6%1684<5%E0??0<=%74;%,UNG\]/JT]%p%Uo%($#!
<++VO%843C:D65%7;43%52D6%47%5632<5%4<%.6CDJ%/TG%/ZZU%
AB0?6% 2<% 0<D6;61D% 47% /No% ($#! <++VO! 1B2??% E6% 03C4165%
4<% 1:8B% 234:<D% 7;43% !%<2?0DF% 47% 5680104<% :<D0?% C2F36<D%
DB6;647J
%
%
8J% &<%DB6%,/TYGU/TJ]N%74;%16;K0861%;6<56;65%7;43%
SC;J%/TG%/ZZU%D4%^:?J%Q/G%/ZZU%h%Uo%($#!<++VO%843C:D65%
7;43%52D6%47%5680104<%47%"S!%>"<D6;36502D6%SCC6??2D6%!4:;D@%%
4<%)6EJ%NTG%/ZZY%AB0?6%0<D6;61D%47%/No%($#!<++VO%1B2??%
E6%03C4165%4<%1:8B%234:<D%7;43%!%<2?0DF%47%5680104<%:<D0?%
C2F36<D%DB6;647J
(
!"#,())X*,(E810'(781($2(#8'(/'";1"<42%'(1;(#8'$"(1=&$:4?
#$12(4"'(:6$&#.(1;(;"4693(2':&$:'2%'3(1"(9'&4.(429(#810'(781(
$2( 42.( <422'"( %12#"4O'2'( #8'( #'21"( #8'"'1;3( 4"'( &$4=&'( ;1"(
94<4:'0,(
@ABBCDEF
G)H( Q"16290( ;1"( N$4=$&$#.( $2( #8'( J'";1"<42%'( 1;( A=&$:4?
#$120
>2@% 7;2:5%>56860D%4;%7*6*@%>0<D6<D04<2?%6K2104<%47%7:?!%??36<D@J
>E@% <6=?0=6<86%>72:?D%4;%&V6(<@J%,R$$!-#).!//GF2!4'5'6!4*7$8.
>8@%
5672:?D%>4;%O*#<@%>07%'O(V)<@6$!D4%DB6%7$@)*#@J
>5@% K04?2D04<% 47% DB6% D6;31% 47% DB6% 4E?0=2D04<% ,5'*6<)'*8! >V+6$%%!
$J&V%$7!0<%(#*($#!&<%$%!EF%74;D:0D4:1%6K6<D1@J
%
_9HQNS!*B6%74??4A0<=%54%<4D%6M8:16%7:?!%??36<DI
/@%
0<8;6216%0<%841D%47%C6;74;32<86J%,^.R.!5.!j<#<7$#*!7$!
6<!hV'+)<2!:0!"W'6.!:38.
N@%
C4K6;DFJ%,C$('7$!5.!-6d$6'V%2!FD!"W'6.!/D08.
Q@%
A2;%E6DA66<%DB6%1:ER68D%47%2%<6:D;2?%84:<D;F%2<5%DB6%
1:ER68D% 47% 2% 84:<D;F% 2D% A2;G% 21% ?4<=% 21% 1:E1D2<D02?%
843C?02<86% 82<% 1D0??% E6% 54<6J% ,]+).! T<#5$%)$#! 4*.! 5.!
T<O@V#eA-O$#'&<+!?'+$2!:I!"W'6.!3;:8.
/QN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aT
!
%
Oc*%8B241%0<%`2<0?2%0<%)6E;:2;F%/Z\]%5:;0<=%
DB6% ?0E6;2D04<% C6;045% 82<% E6% 84<1056;65% 2% 1:7!%806<D%
6M8:16%74;%+*)!(<K'+e!*+!)'O$!DB6%4E?0=2D04<1%32D:;H
0<=%DB2D%34<DBJ%,E<+<6<&!5.!B<#&'<2!G1!"W'6.!I/18.`
%
!
>9HQNS!"<%E&4*++$62!$)!<6.!5.!4*V#)!*>!-(($<6%2!
?A/0;/02!E<#.!/G2!/D1/2!0D%A21%B6?5%DB2D%6K6<%0<50H
K05:2?%1D48_B4?56;1%32F%E6%B6?5%?02E?6%74;%84;C4;2D6%
4E?0=2D04<1% AB6;6K6;% 80;8:31D2<861% 1B4A% DB2D% DB6%
84;C4;2D6%6<D0DF%01%E60<=%:165%21%2<%<6)$#!$e*%4;%E:10H
<611%84<5:0D%74;%DB6%14?6%E6<6!%D%47%DB6%1D48_B4?56;1%
4;% 6?16% D4% 56762D% C:E?08% 84<K6<06<86G% R:1D07F% A;4<=G%
C;4D68D%7;2:5G%4;%5676<5%8;036J%*B6%!%8D04<%47%16C2;2D6%
C6;14<2?0DF%82<<4D%E6%:165%D4%1B06?5%7;2:5J%"<%C'5$#<2!
$)! <6.! 5.! 4*6<e*2! $)! <6.2! ?A/IFIF2! P$@.! I:2! /D1/2% DB6%
!4:;D%B6?5%DB2D%DB6%=4K6;<36<D%47!%802?1%84<86;<65%
2;6% 5:DF% E4:<5% D4% 03C?636<D% DB6% C;4K0104<1% 47% DB6%
30<03:3%A2=6%?2A%EF%2CC;4C;02D0<=%DB6%<686112;F%
234:<D1% 74;% DB6% C2F36<D% 47% DB6% 0<8;62165% 12?2;061%
47%DB6%63C?4F661J%.:8B%2CC;4C;02D04<%82<<4D%E6%?67D%
2D%DB60;%5018;6D04<%<4;%82<%1205%47!%802?%2K405%843C?0H
2<86%A0DB%DB60;%5:DF%EF%0<K4_0<=%?28_%47%7:<51J%PB0?6%
4;50<2;0?F% DB6;6% 1B4:?5% B2K6% E66<% 2% &$#)'!!&<)'*+! 47%
DB6% 2K20?2E0?0DF% 47% 7:<51G% DB01% 01% -&*% <66565% B6;6G%
74;% *)W$#! $O(6*K$$%% B25% 2?;625F% E66<% (<'7% C;04;% D4%
DB6% 84336<8636<D% 47% DB01% 8216J% .0<86% DB6% 5:DF% 01%
32<52D4;FG%E-9=-E^R%82<%C;4C6;?F%011:6J@
(
(
Q4#%84&$42(O,(!"&':6$
XS([@M!(KLU
(
%
"7%2%?410<=%C2;DF%?0D0=2<D%5014E6F1%2%A;0D%47%C41161104<%25H
5;61165%EF%DB6%84:;D%<4D%D4%B03%E:D%D4%2%1B6;077G%1205%5014E650H
6<D%?0D0=2<D%01%<4DG%EF%DB2D%728D%47%5014E6506<86%2?4<6G%=:0?DF%47%
84<D63CD%47%84:;DJ
GKH( Cb4</&'0( 1;( e$1&4#$12( 1;( 4( @12#"4%#( Gi>2( !2.( B422'"(
@12#"4O'2'(#8'(E'21"(E8'"'1;jH
>2@% PB6<%2%?2<5?4;5%720?1%D4%320<D20<%2%D6<2<D%0<%DB6%?6=2?%C41H
161104<%47%DB6%?62165%?2<5%>E682:16%DB6%?2<5?4;5%A21%+*)%0D1%
4A<6;G%2<5%DB6%4A<6;%<4A%A2<D1%D4%488:CF%DB6%?2<5@J%,=$!
/QQ
%
S;DJ%//aT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
6<!4#Vd!5.!R$O'+<#K!*>!E<+'6<2!/3!"W'6.!FF08.!.030?2;?FG%07%
2%?61166%4;%D6<2<D%5461%+*)%C2F%DB6%1D0C:?2D65%;6<D1%561C0D6%
4;2?%2<5%A;0DD6<%5632<51%EF%DB6%?6114;%4;%?2<5?4;5G%DB6%
?2DD6;%01%6<D0D?65%D4%2%R:5=36<D%74;%6R68D36<D%2<5%;684K6;F%
47%5232=61%1:776;65J%,=$!6*%!R<+)*%!5.!B*#*%($2!$)!<6.2!?A
/I0IF2!-(#.!ID2!/D;D8.
>E@% PB6<%2%C6;14<%AB4%<e#$$7!D4%1:CC?F%1436%80<632D4=;2CB08%
!%?31% 82<<4D% 54% 14% E682:16% 47% B01% 72:?DJ% ,-&O$! P'6O%! 5.!
QW$<)$#%!RV((6K2!1F!"W'6.!1;G8.
>8@%
PB6<%2%84334<%82;;06;%720?1%D4%D2_6%0D1%C2116<=6;1%D4%DB60;%
561D0<2D04<J%,BV)'$##$d!5.!BV)'$##$d2!;1!"W'6.!/GG8J%PB0?6%
4K6;8;4A50<=%0<%2%E:1%01%<4D%<6=?0=6<86%($#!%$2!1D0??%DB6%E:1%
01%:<56;%2%5:DF%D4%6M6;8016%2%B0=B%56=;66%47%82;6%D4%C;4D68D%
0D1% C2116<=6;1% 7;43% 52<=6;1% ?0_6?F% D4% 2;016% DB6;67;43J%
*B:1G%07%21%2%#$%V6)%47%*5$#&#*X7'+e!2%C2116<=6;%72??1G%2<5%
2<% <))$O()$7! #$%&V$! @K! <! >$66*X! (<%%$+e$#% 01% 7;:1D;2D65%
E682:16%DB6%E:1%5;0K6;%'OO$7'<)$6K!1D2;D1%DB6%K6B08?6G%DB6%
E:1%843C2<F%82<%E6%B6?5%?02E?6J
>5@% "7%2%D2M0%C2116<=6;%01%0<D6<D04<2??F%_0??65%EF%DB6%5;0K6;G%2<%
28D04<%74;%5232=61%82<%E6%E;4:=BD%2=20<1D%E4DB%DB6%5;0K6;%
2<5%DB6%D2M0%843C2<F%>4;%4C6;2D4;@%:<56;%S;DJ%/a]Z%47%DB6%
!0K0?%!456J%*B6%5;0K6;G%D;:6G%505%+*)!28D%A0DB0<%DB6%184C6%47%
B01%2:DB4;0DFG%E:D%DB6<%2%82;;06;%>?0_6%DB6%843C2<F@%3:1D%
2774;5%7:??%C;4D68D04<J%*B6%82;;06;%56?6=2D61%D4%DB6%5;0K6;%
>0D1%16;K2<D@%DB6%5:DF%D4%C;4D68D%DB6%C2116<=6;1%A0DB%:D341D%
82;6J%*B6%843C2<F%DB:1%E62;1%DB6%;01_%47%X#*+e>V6!4;%+$eA
6'e$+)!28D1%47%0D1%63C?4F661%10<86%0D%B21%C4A6;%D4%16?68D%2<5%
;634K6J%,E<#<+<+!5.!"$#$d2!BC!?AIIIGI2!aV+.!I12!/D1G8.
>6@% "7% 2% C6;14<% 6<D6;1% 0<D4% 2% 84<D;28D% AB6;6% B6% B21% D4% 366D%
86;D20<%E2<_%;69:0;636<D1G%E:D%01%:<2E?6%D4%366D%1205%;6H
9:0;636<D1G%B6%01%?02E?6%74;%E;628B%47%84<D;28DG%07%B6%_<6A%
7;43%DB6%K6;F%E6=0<<0<=%DB2D%1205%;69:0;636<D1%84:?5%<4D%
E6%843C?065%A0DB%EF%B03J%,-##'$)<!5.!9-C]42!?A/;1:;2!a<+.!
F/2!/D1:8.
(
(
[42#$4:1(O,(Q12V4&'0
XT([@M!(UTU
(
!
P-4QRS! b6=2;50<=% 2% 84<D;28D% A0DB% 2% 84<1D;:8D04<%
!%;3G%DB6%4A<6;%A;4D6%DB6%!%;3%DB2D%B6%0<D6<565%D4%82<86?%
/Q\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aT
DB6%84<D;28DG%AB6;6:C4<%DB6%!%;3%1D4CC65%84<1D;:8D04<%A4;_%
74;%2??6=65%<4<HC2F36<D%47%7661%2D%DB6%C;4C6;%D036J%"1%DB6%
!%;3%?02E?6d
%
!
TN?=S!-4G%74;%27D6;%2??G%DB6%25K6;16%C2;DF%B25%2?;625F%
0<74;365% DB6% !%;3% 47% DB6% 74;36;L1% 0<D6<D04<% D4% 82<86?% 4;%
;6180<5%DB6%84<D;28DJ
GLH( N$4=$&$#.(;1"(I4<4:'0
%
%
*B416% ?02E?6% :<56;% S;DJ% //aT% 1B4:?5% C2F% 7<O<e$%2! @V)!
=6<6;2??F%*+6K%07%21056%7;43%DB6%@#$<&W!*>!&*+)#<&)G%C;6R:5086%4;%
5232=6%A21%82:165J%,L$#e!5.!Q$V%2!BC!?A1:;F2!H&).!F02!/D1:8.
(
(
-64.42(@4##&'(@1,3(>2%,(O,(]6$2#$&&42
N?K+TX*3(B4",()T3()TRU
(
%
(K6<% 07% 2% ?6216% 2=;6636<D% >1:8B% 21% DB6% ,21D:;6% $6216%
S=;6636<D@%6MC0;61G%DB6%8?2031%74;%5232=61%DB2D%2;416%5:;0<=%
DB6%6M01D6<86%47%DB6%?6216%84<D0<:6%D4%1:E101DJ%P6%82<<4D%;6=2;5%
1205%8?2031%21%B2K0<=%E68436%344D%2<5%28256308J
(
(
-1=$0(O,(J"1O,([8'"$;;(1;(@4<4"$2'0(D1"#'
QM(KTRLR3(B4",()R3()TRL
(
%
"7%2%1B6;077%74??4A1%DB6%6')$#<6%D6;31%47%2%A;0D%47%6M68:D04<G%
B6%01%+*)%?02E?6%74;%5232=61J
%
(
(
(
J8$&,(N12:(I$0#42%'(E'&'/812'(@1,(O,(D4#$124&
N4=1"(M'&4#$120(@1<<$00$12
QM(SR**U3(B4.(L*3()TRL
(
%
"7% 2<% 63C?4F66% B21% E66<% ?205% 477% 74;% 34;6% DB2<% 74:;% >\@%
F62;1%E:D%A21%+*)%0<%DB6%362<D036%C;4B0E0D65%7;43%?44_0<=%74;%
2<4DB6;%63C?4F36<DG%B01%E28_A2=61%32F%E6%?030D65%4;%;65:865J%
&<6%3:1D%30<030[6%5232=61%DB2D%B2K6%E66<%0<"%08D65%:C4<%B03J%
+6%1B4:?5%B2K6%?44_65%74;%A4;_%0<%DB6%362<D036J
GUH( l$290(1;(I4<4:'0(Gl'.71"9(f(BCDE!NH
>2@% `&bS$%h%>74;%36<D2?%2<5%CBF1082?%2<=:01B@
/Q]
%
S;DJ%//aT
%
(
(
(
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!
_9HQNS!*B6%2<=:01BG%A4;;F%2<5%2<M06DF%47%2%5676<5H
2<D%0<%2%?0D0=2D04<%DB2D%A21%+*)!O<6'&'*V%6K!?0D0=2D65%82<<4D%
E6%84<1056;65%21%DB6%34;2?%5232=61%84<D63C?2D65%0<%DB6%
?2AJ%,C<O*%!5.!C<O*%2!?A/D3GI2!=$&.!F2!/DG:8.`
@1</42$4(B4"$#$<4(O,
!&&$'9(P"''(`1"\'"0Z(d2$12
XX([@M!(KU
%
%
`4;2?%5232=61%82<<4D%E6%;684K6;65%:<?611%C;4K65J%S%
36;6%C;2F6;%74;%DB6%1236%01%<4D%1:7!%806<DJ
>E@% (g(`,$Sbe%h%>&*##$&)'5$!4;%D4%16D%2<%6M23C?6@
>8@%
-&`"-S$%h%>D4%K0<5082D6%2%#'eW)!g!AB6<%<4%4DB6;%_0<5%
47%5232=61%32F%E6%;684K6;65@
%
!
,9HQNS! "<% j$+)<+'66<! 5.! 4$+)$+*2! ?A:FFF2! a<+.! I32!
/D1/2%0D%A21%B6?5%DB2D%<430<2?%5232=61%2;6%-&*%74;%0<H
563<0!%82D04<%47%DB6%?411%1:776;65G%E:D%74;%DB6%K0<5082D04<%
47%2%;0=BD%K04?2D65G%DB6%21161136<D%47%AB08B%01%?67D%D4%DB6%
7'%&#$)'*+!47%DB6%84:;DJ@
>5@% *(`,(bS*(%h%>AB6<%DB6%6M28D%234:<D%47%5232=61%82<H
<4D%E6%56D6;30<65@
>6@% S!*cS$%h%><&)V<6!6*%%$%!21%A6??%21%V+#$<6'd$7!(#*!!)@
>7@%
$"mc"'S*('%h%>C;656D6;30<65%E674;6B2<5%h%EF%2=;66H
36<D@
%
%
'232=61%1B4:?5%E6%C205%EF%DB416%;61C4<10E?6%74;%DB63J%
,N+&'%*!5.!9<&*&*2!_4.-.`!:1!H.B.!:FI/8.
(
(
(
E"4O'&&'"0Z(>29'<2$#.(@1,
O,(-4"='"([#'4<08$/(N$2'03(>2%,
XX([@M!()*
%
%
&<6%AB4%8?2031%5232=61%E682:16%47%5232=6%D4%=4451%
:<56;%DB6%O:;62:%47%!:1D431%2;;21D;6%16;K0861%1B4:?5%!%?6%
DB6%8?203%A0DB%DB6%!43301104<%4<%S:50D%0<1D625%47%!%?0<=%
DB6%8216%A0DB%DB6%;6=:?2;%84:;D1J%*B6%O:;62:%47%!:1D431G%0<%
4C6;2D0<=%DB6%2;;21D;6%16;K086G%5461%14%0<%84<<68D04<%A0DB%2%
C;0<80C2?%=4K6;<36<D%7:<8D04<J%S1%1:8BG%<60DB6;%DB6%O:;62:%
<4;%DB6%b6C:E?08%32F%E6%1:65J%*B:1G%DB6%;6365F%01%A0DB%DB6%
!43301104<%4<%S:50D%:<56;%S8D%QTYQ%2<5%!S%QNaJ
/QU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aT
(
(
(
-4:6<=4.42(@1"/1"4#$12(O,
>2#'"<'9$4#'(!//'&&4#'(@16"#(W(N'&$04(['k4
QM(++KXU3(['/#,(L*3()TRU
(
%
"7%0<%2%;61D2:;2<DG%2%A20D6;%72??1%4<%2%?25F%8:1D436;G%1C0??1%
5;0<_1% 4<% B6;G% 2<5% 82:161% B6;% D4% =4% D4% DB6% 84374;D% ;443% 2<5%
D2_6%477%B6;%8?4DB61%2<5%;6320<%<2_65G%A0DB4:D%DB6%;61D2:;2<D%
4776;0<=%B6;%2<F%2C4?4=FG%1B6%01%6<D0D?65%D4%S!*cS$%'S`Sf(.G%
E:D%+*)!D4%`&bS$%'S`Sf(.G%74;%DB6%36<D2?%2<=:01B%2<5%63H
E2;;21136<D%0<%DB01%8216%82<<4D%E6%84<1056;65%21%72??0<=%A0DB0<%
DB6%184C6%47%S;DJ%NN/a%47%DB6%!0K0?%!456J
GSH( I4<4:'0($2(B12'#4".(A=&$:4#$120
(
%
47I
"<%O*+$)<#K%4E?0=2D04<1G%'+7$O+')K%74;%5232=61%84<101D1%
>2@% DB2D%2=;665%:C4<W
>E@% 0<%DB6%2E16<86%47%2=;6636<DG%DB6%?6=2?%;2D6%47%0<D6;61DJ%,-#).!
II0D2!4'5'6!4*7$i!hV'#*%!5.!Q<+ABV'+6<K2!;!"W'6.!1G;8.!"7%2%
84<D;28D%47%103C?6%?42<%1D0C:?2D61%DB6%D036%AB6<%0<D6;61D%
A0??%E6%84:<D65G%1205%1D0C:?2D65%D036%84<D;4?1J%,"'&d*+!5.!
"'&d*+2!?AID/FD2!9*5.!/;2!/DG:8.
G+H( M'<'9$'0(1;(J"1;'001"0(429(E'4%8'"0
(
%
c<56;%DB6%!0K0?%!456G%DB6;6%01%<4%C;4K0104<%=4K6;<0<=%DB6%
;6?2D0K6%;0=BD1%47%2%D628B6;%4;%C;476114;G%2<5%DB416%47%DB6%18B44?%
DB2D%5610;61%D4%501C6<16%A0DB%DB6%16;K0861%47%DB6%74;36;J%+4A6K6;G%
DB6%;6365F%82<%E6%74:<5%D452F%0<%b6C:E?08%S8D%/Z]N%>DB6%kO$A
%<7<m%4;%V4<6H34<DB%C2FX%;:?6@%21%236<565%EF%bS%/aYaJ%,E<(V<!
]+%)')V)$!*>!Q$&W+*6*eK!5.!E<+<6*2!?A/:33;2!E<K!F/2!/D108.
GXH( @"'9$#1"(1;(4(^69:'
(
(
E4=1494(O,(@4="'"4
XR([@M!(KLS
%
%
"7%2%8;650D4;%47%2%R:5=6%A2<D1%D4%84??68D%2%1:3%47%34<6F%7;43%
DB6%?2DD6;G%DB6%8;650D4;%1B4:?5%<4D%!%?6%DB6%80K0?%843C?20<D%A0DB%
DB6%.:C;636%!4:;DJ
/Qa
%
S;DJ%//a/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
(
!"#,())X),(M'0/120$=$&$#.(4"$0$2:(;"1<(;"469($0(9'<429?
4=&'($2(4&&(1=&$:4#$120,(!2.(74$O'"(1;(42(4%#$12(;1"(;6#6"'(;"469(
$0(O1$9,(
@ABBCDEF
G)H( N$4=$&$#.(;1"(P"469(1"(I1&1
>2@% S884;50<=% D4% D036% 47% 843301104<G% 7;2:5% 32F% E6% (<%)! 4;!
>V)V#$!>?02E0?0DF%74;%C21D%7;2:5%32F%E6%A20K65W%DB01%01%<4D%
14%74;%7:D:;6%7;2:5@J
>E@% S884;50<=%D4%362<0<=G%7;2:5%32F%E6%8?2110!%65%21%74??4A1I
/@%
7;2:5%0<%*@)<'+'+e!&*+%$+)%>32F%E6!&<V%<6!4;%36;6?F%
'+&'7$+)<68
N@%
7;2:5%0<%($#>*#O'+e!2%84<D;28D%>'+<&&V#<)$6K!;676;;65%
D4%EF%1436%21%'+&'7$+)<6!7;2:5@J%);2:5%B6;6%32F%E6%
60DB6;I
2@%
7*6*!&<V%<+)$%>82:12?%7;2:5@
E@%
7*6*!'+&'7$+)$%>0<8056<D2?%7;2:5@
GKH( `8$&'(2$*$!7-8'-14.($0(01($</1"#42#(4(;"469(#84#(O$#$4#'0(
%120'2#(G4&&17$2:(#8'"';1"'(4226&<'2#H3(2$*$!&17&2.14.(
$0(21#($</1"#42#
(
(
(
-42:1.(O,(J8$&,?!<'"$%42
N$;'(>206"42%'(@1</42.
@!?QM(SS+SK?M
(
%
"7%2<%0<1:;65%84330D1%2%32D6;02?%301;6C;616<D2D04<G%7;2:5G%
4;%84<862?36<D%0<%B01%0<1:;2<86%2CC?082D04<G%DB6%0<1:;2<86%84<H
D;28D% 82<<4D% E6% ;6=2;565% 21% K2?05J% >9*)$S! DB6% 2<<:?36<D% 8216%
3:1D%E6%A0DB0<%DA4%F62;1%7;43%DB6%C6;768D04<%47%DB6%84<D;28DJ@%
"7%DB6%D;:DB%B25%E66<%D4?5G%DB6;6%A4:?5%B2K6%E66<%<4%84<D;28DG%
4;% 4<6% A4:?5% B2K6% E66<% 3256% A0DB% 2% 3:8B% B0=B6;% C;630:3%
>84<1056;0<=%DB6%D;:6%1D2D6%47%B62?DB%47%DB6%0<1:;65@J
%
!
,9HQNS!*B6%7;2:5%B6;6%01%03C4;D2<DG%2<5%01%;676;;65%D4%21%
=H?H!4-^R-9QN.8
/QY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aN
GLH( E4b(CO40$12
!
!
Q<J! $5<%'*+! >21% 501D0<=:01B65% 7;43% )<J! <5*'7<+&$@% 84<H
<4D61%7;2:5%DB;:%DB6%:16%47%C;6D6<161%2<5%74;E0556<%56K0861%D4%
?6116<%4;%56762D%D2M61J%+4A6K6;G%2%D2MC2F6;%B21%DB6%?6=2?%;0=BD%
D4%7$&#$<%$!DB6%234:<D%47%AB2D%4DB6;A016%A4:?5%E6%B01%D2M61%
4;%2?D4=6DB6;%<5*'7%DB63%EF%362<1%AB08B%DB6%?2A%C6;30D1J%+6%
5461%+*)!0<8:;%7;2:5%DB6;6EF%6K6<%07%DB6%D2M%C205%01%DB6;627D6;%
74:<5%D4%E6%0<1:7!%806<DJ%,[V)'5*!b!R*+%!T<#7X<#$!4*.!5.!4*V#)!
*>!Q<J!-(($<6%2!$)!<6.2!?A/FI0F2!a<+.!I32!/D1/8.
(
!"#,())XK,(M'0/120$=$&$#.(4"$0$2:(;"1<(2':&$:'2%'($2(#8'(
/'";1"<42%'(1;('O'".(\$29(1;(1=&$:4#$12($0(4&01(9'<4294=&'3(
=6#(06%8(&$4=$&$#.(<4.(='("':6&4#'9(=.(#8'(%16"#03(4%%1"9$2:(
#1(#8'(%$"%6<0#42%'0,
@ABBCDEF
G)H( P"469(I$0#$2:6$08'9(;"1<(D':&$:'2%'
=H?H
4^?"-
>2@% *B6;6% 01% 2% '($"O(bS*(% >2@% S?DB4:=B% 5*6V+)<#K% >DB2D%
0<D6<D04<%D4%82:16%5232=6%
01G%+*)!7*+$!)W#V!>*#&$@%1D0??%
4;%C;6R:5086J
DB6;6%01%-&%'($"O(bS*(%
0<D6<D04<% D4% 82:16% 523H
2=6J
>E@% $02E0?0DF%2;010<=%7;43!7*6*% >E@% $02E0?0DF%5:6%D4%<6=?0=6<86%
32F%E6%;65:865%0<%86;D20<%
&<++*)%E6%30D0=2D65%4;%;6H
82161J
5:865%EF%DB6%84:;D1J
>8@%
P20K6;%47%2<%28D04<%D4%6<H >8@%
74;86%?02E0?0DF%5:6%D4%>V)V#$%
7;2:5%01%K405J
P20K6;%47%2<%28D04<%D4%6<H
74;86%?02E0?0DF%5:6%D4%>V)V#$!
&V6(<% 32F% 0<% 2% 86;D20<%
16<16%E6%2??4A65J
N46"'&(O,(!="1:4
URL([@M!(KUL(GK**+H
%
%
S34<=%DB6%C;4B0E0D65%28D1%6<:36;2D65%0<%.68J%Z%47%bS%-4J%
Y\Y\%4;%VS88611%'6K0861%b6=:?2D04<%S8D%47%/ZZYGX%2;6I
/QZ
%
S;DJ%//aN
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
/J%%
DB6%28D1%47%4ED20<0<=%34<6F%4;%2<FDB0<=%47%K2?:6%DB;:%
DB6%:16%47%2<%288611%56K086%A0DB%0<D6<D%D4%567;2:5%4;%
0<D6<D%D4%=20<%2<5%"%660<=%27D6;W%2<5%
NJ%%
47%67768D0<=%D;2<128D04<1%A0DB%4<6%4;%34;6%288611%56H
K0861%011:65%D4%2<4DB6;%C6;14<%4;%C6;14<1%D4%;6860K6%
C2F36<D%4;%2<F%4DB6;%DB0<=%47%K2?:6J%
%
c<56;% .68J% //% 47% DB6% ?2AG% 84<1C0;28F% D4% 84330D% 288611%
56K0861%7;2:5%01%2%8;036J
GKH( [#$/6&4#$120( M':4"9$2:( D':&$:'2%'( GP6#6"'( D':&$?
:'2%'H
>2@% B#*%%%<6=?0=6<86%82<%<6K6;%E6%6M8:165%0<%25K2<86%74;%DB01%
A4:?5%E6%84<D;2;F%D4%C:E?08%C4?08FJ
>E@% R'O(6$%<6=?0=6<86%32F%0<%86;D20<%82161%E6%$J&V%$7!4;%O')'A
e<)$7J
>8@%
*B;66% >Q@% :1:2?% _0<51% 47% 1D0C:?2D04<% 0<% 2% @'66! *>! 6<7'+e%
>84<D;28D%74;%DB6%1B0CC0<=%4;%D;2<1C4;D0<=%47%=4451@I
/@%
*B6%!%;1D%4<6%6M63CD1%DB6%82;;06;%7;43%<66%?02E0?0D061%
74;%?411%4;%5232=6%4882104<65%EF%0D1%4A<%<6=?0=6<86J%
>*B01%01%2=20<1D%C:E?08%C4?08F%2<5%01%K405@J%,R$$!-#).!
/G:;2!9*%.!I!<+7!F2!4'5'6!4*7$8.
!
!
NJ<O(6$! *>! )W'%! '+5<6'7! %)'(V6<)'*+S% V-4% 32DH
D6;%B4A%<6=?0=6<D%DB6%82;;06;%A0??%E6G%0D%A0??%<4D%E6%
;61C4<10E?6%74;%DB6%5232=6%82:165JX
N@%
*B6%1684<5%4<6%6'O')%!DB6%?02E0?0DF%D4%2<%<e#$$7!5<6VA
<)'*+2% <4% 32DD6;% B4A% 3:8B% 5232=6% 01% 82:165J% >"<%
4DB6;%A4;51G%<4%32DD6;%B4A%3:8B%5232=6%01%82:165G%
DB6%K2?:6%DB2D%82<%E6%;684K6;65%01%DB6%1236J%*B01%01%
2?14%#&"'%10<86%2%A62?DBF%843C2<F%A4:?5%E6%2E?6%D4%
2774;5%E60<=%<6=?0=6<DJ@
%
!
NJ<O(6$S!V-4%32DD6;%B4A%<6=?0=6<D%DB6%82;;06;%
A0??%E6G%2<5%;6=2;5?611%47%DB6%K2?:6%47%DB6%=4451G%0D%
A0??%C2F%5232=61%4<?F%:C%D4%,/TTJTTJX%>.0<86%DB01%01%
5*'72%DB6%<&)V<6!7<O<e$%32F%1D0??%E6%;684K6;65J@
Q@%
*B6%DB0;5%4<6%6'O')%%DB6%?02E0?0DF%D4%2<%<e#$$7!5<6V$!
c-$(..%DB6%1B0CC6;%568?2;61%2%W'eW$#!K2?:6%2<5%C2F1%
/\T
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aN
2%B0=B6;%;2D6%47%7;60=BDJ%>*B01%01%K2?05%2<5%6<74;862E?6G%
21%2%;:?6@J%,P#$'J<%!4*.!5.!"<&'!!&!E<'6!R)$<O%W'(!4*.2!
:I!"W'6.!/D3!<+7!T$<&*&M!5.!E<&*+7#<K!<+7!4*.2!:I!
"W'6.!I0;8.!>R$$!-O$#'&<+!"#$%'7$+)!?'+$%2!?)7.!5.!C'A
&W<#7!-.!o6$(($#2!$)!<6.2!?A/;1G/2!9*5.!ID2!/D102!AB6;6%
DB6%.:C;636%!4:;D%2A2;565%4<?F%DB6%234:<D%%)<)$7%0<%
DB6%E0??%47%?250<=%h%,]TT%0<1D625%47%,UGaNZJ]T%h%DB6%
234:<D%47%28D:2?%5232=61J%i?6CC6;%82<<4D%6?:56%0D1%
C;4K0104<1% 103C?F% E682:16% DB6F% C;6R:5086% B03G% 2<5%
D2_6%25K2<D2=6%47%DB416%DB2D%2;6%E6<6!%802?J@
%
!
NJ<O(6$S!V-4%32DD6;%B4A%<6=?0=6<D%DB6%82;;06;%
32F%E6G%0D%A0??%C2F%5232=61%4<?F%:C%D4%,/TTG%Oc*G%
07%DB6%1B0CC6;%568?2;61%DB2D%DB6%K2?:6%47%B01%=4451%01%
34;6%DB2<%,/TTG%2<5%C2F1%2%W'eW$#!#<)$!*>!>#$'eW)2%DB6<%
5232=61%32F%E6%;684K6;65%D4%DB6%6MD6<D%47%DB6%K2?:6%
568?2;65JX%j*B01%01%4;50<2;0?F%K2?05%10<86%0D%;6A2;51%
B4<61DFW%E:D%1436D0361%DB6%234:<D%A0??%E6%0<8;62165%
07%DB6%K2?:6%47%DB6%=4451%E6%84<1056;2E?F%B0=B6;%DB2<%
DB6%C;086%568?2;65%21%AB6<%10?_%82161%A4;DB%,QG]TT%
628B% A6;6% ?41D% E:D% DB6% 82;;06;% 4<?F% A2<D65% D4% C2F%
,QTT% 628B% E682:16% DB6% 1B0CC6;% ><'6$7! )*! 7$&6<#$! <%
K2?:6% B0=B6;% DB2<% ,QTTJ% +6;6G% DB6% 84:;D% 1205% DB2D%
D4%=0K6%4<?F%,QTT%74;%628B%A4:?5%E6%:<84<1804<2E?6G%
84<1056;0<=%DB6%80;8:31D2<861J%,R$$![%O<$6!<+7!4*.!
5.!L<##$))*2!;/!"W'6.!D08Jk
(
(
(
J81'2$b(!006"42%'(@1,(O,(
B4%129"4.(W(@1,3(>2%,
N?KS*UR3(B4.()L3()TXS
(
!
P-4QRS!S%1B0CC6;%0<%.4:DB%!2;4?0<2%16<D%D4%2%82;;06;%
1B0C%>.J.J%)6;<E2<_@%74;%6K6<D:2?%56?0K6;F%D4%)?4;4%.C0<H
<0<=%`0??1%0<%`2<0?2%2%1B0C36<D%47%4<6%E4M%2<5%4<6%82;D4<%
84<D20<0<=%D6MD0?6%328B0<6;F%1C2;6%C2;D1%A4;DB%q\G/YQJa\J%
*B6% K2?:6% A21G% B4A6K6;G% -&*% '(!$Sb('% 2<5% 14% DB6%
:1:2?%8B2;=6%47%p:1.I0!A21%3256%74;%DB6%7;60=BD2=6J%"<%DB6%
E0??%47%?250<=%A21%C;0<D65%2%1D0C:?2D04<%D4%DB6%67768D%DB2D%
0<%8216%47%?411%4;%5232=6G%DB6%82;;06;L1%?02E0?0DF%A21%!%M65%
4<?F%2D%q]TTG%:<?611%2%B0=B6;%K2?:6%01%568?2;65%0<%DB6%E0??%47%
?250<=%2<5%6MD;2%7;60=BD2=6%C205G%07%;69:0;65%>DB01%D036%DB6%
/\/
%
S;DJ%//aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
7;60=BD2=6%A4:?5%E6%4<%2%K2?:6%4;%<7!5<6*#$O!E2101@J%*B6%
1B0C36<D%A21%0<1:;65%74;%q]G\]T%A0DB%,B46<0M%S11:;2<86%
!43C2<F%47%-6A%e4;_J%&<%2;;0K2?G%0D%A21%50184K6;65%DB2D%
2%C4;D04<%47%DB6%1B0C36<D%B25%E66<%5232=65%>D4%DB6%6MD6<D%
47%q/G]/NJaY@J%*B6%)?4;4%.C0<<0<=%`0??1%1:65%E4DB%82;;06;%
2<5%0<1:;2<86J%*B6%,B46<0M%S11:;2<86%!43C2<F%C205%DB6%
69:0K2?6<D%47%q/G]/NJaYJ%"<%D:;<G%DB6%0<1:;2<86%843C2<F%
21_65%;603E:;1636<D%7;43%DB6%82;;06;J%*B6%82;;06;G%B4AH
6K6;G%1205%DB2D%0D%A21%A0??0<=%D4%2<1A6;%74;%4<?F%q]TT%21%
1D2D65%0<%DB6%E0??%47%?250<=J!]%%V$S%+4A%3:8B%;603E:;1636<D%
3:1D%E6%=0K6<%h%q]TT%4;%q/G]/NJaYd
%
!
TN?=S% b603E:;1636<D% 1B4:?5% E6% 74;% 4<?F% q]TT% 0<%
K06A%47%DB6%1D0C:?2D04<%0<%DB6%E0??%47%?250<=G%2%1D0C:?2D04<%
12<8D04<65%EF%4:;%R:;01C;:56<86J%,T$<&*&M!5.!E<&*+7#<K!
<+7!4*.2!:I!"W'6.!I0;2!$)&.!<+7!-#)%.!/G:D!<+7!/G;02!4'5'6!
4*7$8.!O6%0D%<4D65%DB2D%<4%K2?:6%B0=B6;%DB2<%q]TT%B25%E66<%
568?2;65J%>-4D6%DB6%q]TT%1B4:?5%E6%=0K6<%0<%DB6%84<K6;104<%
;2D6%DB2D%A0??%6M01D%2D%DB6%D036%%<)'%><&)'*+%47%DB6%R:5=36<D%
01%28D:2??F%3256J@
GLH( M6&'($2(@12#"4%#0(1;(!98'0$12
%
%
*B6;6%01%=;62D6;%7;66543%D4%1D0C:?2D6%4<%<6=?0=6<86%07%DB6%
C2;D061%2;6%4<%2<%69:2?%C?2<6W%<4D%AB6;6%DB6F%2;6%4EK04:1?F%0<%
:<69:2?%C410D04<1%>!&-*bS!*.%&)%S'+(."&-@%1:8B%21%0<%
DB6% 8216% 47% $O(6*KO$+)! *#! )#<+%(*#)<)'*+% 84<D;28D1J% ,R$$! -#).!
/G:;2!4'5'6!4*7$i!I!4<%)<+!;FIA;FF8.%`4;64K6;G%1D0C:?2D04<1%4<%
<6=?0=6<86% 3:1D% E6% 1D;08D?F% 84<1D;:65% 2=20<1D% DB6% C2;DF% 10D:H
2D65%0<%2%B0=B6;%4;%34;6%25K2<D2=64:1%C410D04<J%,R$$!ECC!5.!
4*O(<+'<!Q#<+%<)6<+)'&<2!F3!"W'6.!3G;8.
(
(
I'&:491(-"1#8'"03(>2%,(O,(@16"#(1;(!//'4&03('#(4&,
N?)S+SU3(I'%,(KT3()T+*
(
!
P-4QRS!'6?=254%O;4DB6;1G%"<8J%A6;6%DB6%47!%802?%:<?425H
6;1%47%DB6%82;=461%1B0CC65%4<%DB6%S36;082<%,;61056<D%$0<61J%"<%
0D1%84<D;28D%A0DB%DB6%?2DD6;G%2%8?2:16%;6251I%VP6G%DB6%S36;082<%
,;61056<D%$0<61G%B6;6EF%211:36%7:??%;61C4<10E0?0DF%2<5%?02E0?0DF%
74;%5232=61%D4%82;=461G%1B0CG%4;%4DB6;A016%2;010<=%7;43%DB6%:16%
47%DB6%:<?4250<=%8;2<6%47%DB6%'6?=254%O;4DB6;1G%"<8J%2<5%A6%A0??%
+*)!B4?5%1205%!43C2<F%?02E?6%4;%;61C4<10E?6%0<%2<F%A2F%DB6;647JLL%
/\N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aN
&<6% b08B2;5% i?6CC6;% 1B0CC65% DB;:% DB6% S36;082<% ,;61056<D%
$0<61%2%?07D%K2<%84<D20<0<=%86;D20<%C6;14<2?%67768D1J%PB0?6%DB6%
K2<%A21%E60<=%:<?42565%EF%DB6%=2<D;F%8;2<6%4C6;2D65%EF%DB6%
'6?=254%O;4DB6;1G%0D%76??%4<%DB6%C06;G%E;62_0<=%DB6%=4451%0<1056J%
*B6%1B0CC0<=%843C2<F%A21%4;56;65%D4%C2F%74;%DB6%5232=61J!]%%V$S%
"1%DB6%'6?=254%O;41JG%"<8J%;69:0;65%D4%;603E:;16%DB6%82;;06;d
%
!
TN?=S!-4G%E682:16%47%DB6%$J$O()'*+!0<%DB6%84<D;28D%7;43%
?02E0?0DF%4<%DB6%C2;D%47%DB6%'6?=254%O;41JG%"<8J%*B6%6M63CD04<%01%
!$(SbJ
%
!
9HQNS!"<%f<#+$#2!L<#+$%!b!4*.2!?)7.!5.![<%<K!,?A/ID3:2!
aV6K!I12!/D1082%DB6%.:C;636%!4:;D%B6?5%DB2D%AB0?6%DB6%56ED4;%
A21%<6=?0=6<D%0<%C2F0<=%74;%DB6%841D%47%DB6%76;D0?0[6;%AB08B%B6%
B25%C:;8B2165%4<%8;650D%C;04;%D4%DB6%?21D%A2;G%1D0??%B6%1B4:?5%+*)!
E6%8B2;=65%'+)$#$%)%5:;0<=%DB6%A2;%F62;1G%10<86%B6%A21%0<!e**7!
><')WG% 2<5% 10<86% 2?14% DB6% 8;650D4;% A21% 2% O;0D01B% 843C2<F% 2<5%
DB6;674;6%2<%$+$OK!47%DB6%^2C2<616%488:C2D04<%74;861J
GUH( l$290(1;(@6&/4(@&400$!('9(!%%1"9$2:(#1(#8'([16"%'(1;(#8'(
A=&$:4#$12
>2@% &V6(<!&*+)#<&)V<6!>84<D;28D:2?%<6=?0=6<86%h%4;%DB2D%AB08B%
;61:?D1%0<%2%E;628B%47%2%84<D;28D@J
>E@% &V6(<!<YV'6'<+<!>80K0?%<6=?0=6<86%4;%D4;D%4;%YV<%'A7$6'&)@J
>8@%
&V6(<!&#'O'+<6!>8;030<2?%<6=?0=6<86%h%4;%DB2D%AB08B%;61:?D1%
0<%DB6%843301104<%47%2%&#'O$!4;%2%7$6'&)@J
GSH( I$0#$2%#$120(M'(#8'(E8"''(l$290(1;(@6&/4
!c$,S
4H9QC-4Q^-?
!c$,S
-h^]?]-9-
!c$,S%
4C]E]9-?
>2@% -6=?0=6<86%01%
>2@% -6=?0=6<86%B6;6%
>2@% -6=?0=6<86%B6;6%
36;6?F%0<8056<D2?G%
01%50;68DG%1:E1D2<H
01%50;68DG%1:E1D2<H
0<8056<D%D4%DB6%
D0K6G%2<5%0<56H
D0K6G%2<5%0<56C6<H
C6;74;32<86%47%2<%
C6<56<DJ%,C<M$%!
56<D%47%2%84<D;28DJ
4E?0=2D04<%2?;625F%
5.!-)6<+)'&!BV6>!b!
6M01D0<=%E682:16%47%
"<&'!!&!4*.2!G!"W'6.!
2%84<D;28DJ%,C<M$%!
FD;8.
/\Q
%
S;DJ%//aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
5.!-)6<+)'&!BV6>!b!
"<&.!4*.2!G!"W'6.!
FD;8.
>E@% *B6;6%01%2%C;6H
6M01D0<=%4E?0=2H
D04<%>2%84<D;28DG%
60DB6;%6MC;611%4;%
03C?065@J%,C<M$%!
4<%$8.
>E@% -4%C;6H6M01D0<=%
%>E@% -4%C;6H6M01DH
4E?0=2D04<%>6M86CD%
0<=%4E?0=2D04<%
47%84:;16%DB6%5:DF%
>6M86CD%DB6%5:DF%
D4%E6%82;67:?%0<%2??%
<6K6;%D4%B2;3%
B:32<%28D:2D04<1@J!
4DB6;1@J
,C<M$%!4<%$8.
>8@% ,;447%<66565%h%
C;6C4<56;2<86%47%
6K056<86J%,L<##$7*!
5.!B<#&'<2!].H.B.!
9*.!12!(.!/D/8.
>8@% ,;447%<66565%0<%
>8@% ,;447%<66565%
<!&#'O$!g!C;447%
h%C;6C4<56;2<86%47%
47%=:0?D%E6F4<5%
6K056<86J%,L<##$7*!
;6214<2E?6%
5.!B<#&'<2!].H.B.!
54:EDJ%,L<##$7*!
9*.!12!(.!/D/8.
5.!B<#&'<8.
>5@% '676<16%47%V=445% >5@% '676<16%47%V=445%72H >5@% *B01%01%<4D%2%
72DB6;%47%2%7230?FX%
DB6;G%6D8GX%01%2%C;4CH
C;4C6;%5676<16%
0<%DB6%16?68D04<%
6;%2<5%843C?6D6%
0<%&V6(<%&#'O'A
2<5%1:C6;K0104<%47%
5676<16%>0<1472;%21%
+<6J%+6;6%DB6%
63C?4F661%01%<4D%
63C?4F6;1%4;%=:2;5H
63C?4F66L1%=:0?D%
2%C;4C6;%843H
02<1%2;6%84<86;<65@%
01%<V)*O<)'&<66K%
C?6D6%5676<16%0<%
0<%&V6(<!<&YV'6'<+<J%
DB6%63C?4F6;L1%
&V6(<!&*+)#<&)V<6%
,4<+e&*!<+7!=$!
&'5'6%=:0?DG%07%DB6%
>DB4:=B%DB01%32F%
BV'<!4<%$%8.
74;36;%01%0<14?H
`"*"fS*(%523H
K6<DJ%,R$$!E.!
2=61@J%,4<+e&*!5.!
?V'%<!E<#)'+$d!
E<+'6<!C<'6#*<7!
5.!L<##$7*8.
4*.2!F3!"W'6.!G1D!
<+7!=$!BV'<!5.!
E$#<6&*2!:0!"W'6.!
G108.%+6;6%A6%
74??4A%DB6%;:?6%47%
b(.,&-'(S*%
.c,(b"&b%4;%
!&``S-'%b(H
.,&-."O"$"*e%
4;%DB6%`S.*(b%
S-'%.(b#S-*%
bc$(@J
>6@% S1%?4<=%21%0D%01%
C;4K65%DB2D%)W$#$!
A21%2%&*+)#<&)2!
>6@% &;50<2;0?FG%DB6%K08H >6@% S88:165%01%C;6H
D03%B21%D4%C;4K6%DB6%
1:365%0<<486<D%
<6=?0=6<86%47%DB6%
:<D0?%DB6%84<H
/\\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
<+7!)W<)!')!X<%!
+*)!&<##'$7!*V)2!0D%
01%C;61:365%DB2D%
DB6%56ED4;%01%2D%
72:?DG%2<5%0D%01%W'%!
7V)K!D4%C;4K6%DB2D%
DB6;6%A21%<4%<6=H
?0=6<86%0<%82;;FH
0<=%4:D%DB6%D6;31%
47%DB6%84<D;28DJ%
,4<+e&*!4<%$i!3!
E<+#$%<!G/8.
S;DJ%//aN
5676<52<DJ%*B01%01%
E682:16%B01%28D04<%
01%E2165%4<%2??6=65%
<6=?0=6<86%4<%DB6%
C2;D%47%DB6%5676<5H
2<DJ%,4<+e&*!4<%$!
<+7!3!E<+#$%<!G/8.
D;2;F%01%C;4K65G%
14%C;4168:D04<%
B21%DB6%E:;56<%
47%C;4K0<=%DB6%
<6=?0=6<86%47%DB6%
288:165J
G+H( [1<'(>&&60#"4#$O'(Cb4</&'0
>2@% 4^?"-!4H9QC-4Q^-?
%
%
S% (<%%$+e$#% 0<% 2% D2M0% A21% B:;D% E682:16% 47% DB6% D2M0%
5;0K6;L1%+$e6'e$+&$.
/@%
*B01% 01% &V6(<! &*+)#<&)V<6! >DB6;6% A21% 2% 84<D;28D% 47%
82;;02=6%E6DA66<%DB6%C2116<=6;%2<5%DB6%*X+$#%47%DB6%
D2M082E%843C2<F@J%*B01%01%D;:6%6K6<%07%DB6%C2116<=6;%
W<7!+*)!K$)!(<'7i!D;:6%2?14G%6K6<%07%B6%B25%<4%34<6F%
D4%C2FW%D;:6%2?14%6K6<%07%DB6%288056<D%488:;;65%21%DB6%
C2116<=6;%A21%E42;50<=%DB6%D2M0J%,R$$!?<%<O!5.!RO')W2!
:;!"W'6.!1;G8.
N@%
*B6%B:;D%C2116<=6;%32F%E;0<=%2%80K0?%8216%47%&V6(<!
&*+)#<&)V<6! >74;% E;628B% 47% DB6% 84<D;28D% 47% 82;;02=6@%
<e<'+%)%DB6%*X+$#%47%DB6%D2M082E%843C2<FG%2<5%<4D%
2=20<1D% DB6% 5;0K6;G% E682:16% DB6% 84<D;28D% 01% @$)X$$+!
DB6% (<%%$+e$#% 2<5% DB6% *X+$#G% 2<5% <4D% E6DA66<% DB6%
C2116<=6;% 2<5% DB6% 5;0K6;G% AB4% 36;6?F% ;6C;616<D1%
DB6% 4A<6;J% +6<86G% C;4C6;?FG% 4<?F% DB6% 4A<6;% 1B4:?5%
E6% DB6% 5676<52<D% >A0DB4:D% C;6R:5086% D4% B01% ;0=BD% D4%
;603E:;1636<D% 7;43% B01% 5;0K6;@J% ,RV7*! 5.! l<O*#<2!
_4.-.`! FG! H.B.! D1I! <+7% N+&'%*! 5.! 9<&*&*2! _4.-.`! :1!
H.B.!D1I!=0K6%DB6%&*##$&)!;:?6G%2<5%+*)!BV)'$##$d!5.!
BV)'$##$d2!;1!"W'6.!/GG8.
Q@%
"7%DB6%4A<6;%82<%C;4K6%DB2D%B6%6M6;80165%5:6%50?0=6<86%
0<% DB6% %$6$&)'*+! 2<5% %V($#5'%'*+% 47% DB6% 5;0K6;G% 1205%
/\]
%
S;DJ%//aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
4A<6;%01%1D0??%;61C4<10E?6%E682:16%47%k#$%(*+7$<)!%VA
($#'*#m%4;%DB6%321D6;H16;K2<D%;:?6%>DB6%<6=?0=6<86%47%
DB6%16;K2<D%01%DB6%<6=?0=6<86%47%DB6%321D6;@J%+4A6K6;G%
DB01%V50?0=6<86X%47%DB6%4A<6;%32_61%B03%2%56ED4;%0<%
e**7!><')W!2<5%DB6%5232=61%A4:?5%E6%30D0=2D65J%,R$$!
E<+'6<!C<'6#*<7!4*.!5.!4*O(<+'<!Q#<+%<)6<+)'&<2!F3!
"W'6.!3G;i!4<+e&*!5.!E<+'6<!C<'6#*<7!4*.2!F3!"W'6.!G1D!
<+7!=$!BV'<!5.!E<+'6<!N6$&)#'&!4*.2!:0!"W'6.!G108.
\@%
S??%DB2D%DB6%C2116<=6;%3:1D%C;4K6%01%DB6%6M01D6<86%47%
DB6%84<D;28D%47%82;;02=6G%2<5%DB6%728D%DB2D%DB6;6%A21%
2%E;628B%E682:16%B6%505%<4D%2;;0K6%2D%B01%561D0<2D04<%
:<B:;DJ%"7%DB6%843C2<F%A2<D1%D4%6182C6%?02E0?0DFG%0D%
01%0D1%5:DF%D4%C;4K6%DB2D%DB6%5;0K6;%A21%;62??F%&<#$>V6i!
4DB6;A016G%DB6%C;61:3CD04<%47%DB6%5;0K6;L1%<6=?0=6<86%
;6320<1J%,R$$!4<+e&*!5.!E<+'6<!C<'6#*<7!4*.2!F3!"W'6.!
G1D2! AB6;6% 2% D;20<% C2116<=6;G% 4<% 2?0=BD0<=% 7;43% 2%
D;20<G%A21%B:;D%AB6<%B6%76??%4<%128_1%47%A2D6;36?4<1%
82;6?611?F%1D;6A<%2E4:DW%166%2?14%3!E<+#$%<!G/8.
(
(
!2#12$1(e,(M156'(O,(-$'2O'2$91(J,(-642
N?KKUST3(A%#,(L)3()T+X
(
!
P-4QRI%"<%2%E:1%E4:<5%74;%,23C2<=2G%2%C21H
16<=6;%>S<D4<04%#J%b49:6@%A21%0<R:;65%21%2%;61:?D%47%
DB6%5;0K6;L1%K04?6<D%1A6;K0<=%D4%DB6%;0=BD%D4%2K405%2%
B625H4<%84??0104<%A0DB%2<4DB6;%K6B08?6J%]%%V$S!"1%DB6%
E:1%843C2<F%C;61:365%<6=?0=6<Dd
%
!
TN?=S%e61G%DB6%E:1%4;%84334<%82;;06;%01%C;6H
1:365%<6=?0=6<D%0<%8216%47%562DB%4;%CBF1082?%0<R:;061%
D4%C2116<=6;1%:<?611%0D%C;4K61%DB6%6M6;8016%47%6MD;24;H
50<2;F%50?0=6<86J%"<5665%AB6<%DB6%28D04<%01%E2165%4<%
2%84<D;28D%47%82;;02=6G%2<5%<4D%47%D4;DG%DB6%84:;D%<665%
<4D%32_6%2<%6MC;611%!%<50<=%47%72:?D%4;%<6=?0=6<86%4<%
DB6%C2;D%47%DB6%82;;06;G%74;%0D1%4E?0=2D04<%01%D4%D;2<1C4;D%
DB6%C2116<=6;%1276?FJ%,R$$!=K!RK!5.!E<6<)$!Q<J'&<@2!
$)!<6.2!?A3DFG2!9*5.!ID2!/D;G8.
]@%
"7%DB6%D2M0%84<D20<65%7$>$&)'5$!(<#)%G%DB01%01%2?14%<6=H
?0=6<86% 4<% DB6% C2;D% 47% DB6% 843C2<FJ% *B6% 843C2<F%
82<<4D%8?203%>*#&$!O<U$V#$%21%2<%6M8:16%B6;6J%,?<%<O!
5.!RO')W2!:;!"W'6.!1;G8.
/\U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aN
%
(
(
(
(
!
P-4QRS%S%C2116<=6;%4<%2%D;:8_%A21%B:;DG%E:D%0<%2%
&#'O'+<6!&<%$%2=20<1D%DB6%5;0K6;G%1205%5;0K6;%A21%289:0DH
D65J%*B6%K08D03%<4A%1:61%DB6%4A<6;%47%DB6%D;:8_%74;%&V6(<!
&*+)#<&)V<6.!]%%V$S!`2F%DB6%1:0D%1D0??%C;41C6;d
%
!
TN?=S%e61G%E682:16%DB6%28D04<%01%E2165%4<%2%84<D;28DJ%
"D%01%1:7!%806<D%74;%B03%D4%C;4K6%DB6%6M01D6<86%47%DB6%84<D;28D%
47%82;;02=6%2<5%DB6%0<R:;061%1:776;65J%"D%01%<4D%<686112;F%
74;% B03% D4% C;4K6% DB6% <6=?0=6<86% 47% DB6% 5;0K6;% 74;% DB01% 01%
C;61:365%B6;6J%>&7%84:;16G%07%DB6%5;0K6;%82<%C;4K6%B6%A21%
<4D%<6=?0=6<DG%DB6%843C2<F%A4:?5%<4D%E6%?02E?6J@
U@%
a@%
[42(J'9"1(-60(N$2'(O,(D4O4""1
N?+KT)3(!/",(KT3()TSU
"<1D2<861%47%;68_?611<611%4<%DB6%C2;D%47%DB6%5;0K6;I
2@%
5;0K0<=%2D%2<%:<R:1D0!%65%;2D6%47%1C665W
E@%
"%2=;2<D%K04?2D04<1%47%DB6%6?636<D2;F%84:;D61061%
47%DB6%;425W
8@%
720?:;6%D4%10=<2?%C;4C6;?FW
5@%
56?0E6;2D6%6<D;F%4<%4<6HA2F%1D;66D1W
6@%
B01% '+)*J'&<)'*+% 2D% DB6% D036% 47% DB6% 301B2C% j21%
501D0<=:01B65% 7;43% DB6% 36;6% 5;0<_0<=% 47% B2;5%
?09:4;k%,f#'eW)!5.!E<+'6<!N6$&)#'&!4*.2!I3!"W'6.!
/II8i
7@%
0<%=6<6;2?G%2<%2DD63CD%D4%C211%2<4DB6;%K6B08?6%
AB08B%720?1%D4%=0K6%A2F%,46<K)*+!5.!E&]66+<)W2!
I:/!]*X<!//1I8.
"<1D2<861%47%;68_?611<611%4<%DB6%C2;D%47%DB6%4A<6;G%4;%
4C6;2D4;%B0316?7I
2@%
720?:;6%D4%;6C20;%56768D0K6%C2;D1%0<%DB6%K6B08?6%
,?<%<O! 5.! RO')W2! :;! "W'6.! 1;G! <+7! a*%$! R*+!
5.! 4$@V! -V)*@V%! 4*.2! ?A1/;;2! -(#'6! F02! /D;:8%
4;%2??4A0<=%2%A4;<H4:D%84<50D04<%47%DB6%K6B08?6%
,=<5<*!BV6>!?VO@$#!4*#(.!5.!9.!L<$+%!7$6!C*%<A
#'*2!?A/;DG32!=$&.!ID2!/D108%4;%DB6%720?:;6%47%DB6%
82;;06;%D4%C;4K056%2<F%84K6;%2D%DB6%;0=BD%1056%47%
DB6%E:1%D4%1276=:2;5%C2116<=6;1%10DD0<=%DB6;62D%
/\a
%
S;DJ%//aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
7;43%72??0<=%DB6;67;43J%)20?:;6%47%DB6%C2116<=6;%
D4%B4?5%4<%D4%DB6%2;3%47%DB6%162D%0<1D625%47%DB6%
B2<5%47%2%7;06<5%30D0=2D61%B4A6K6;%DB6%?02E0?0DFJ%
,?<eV+<!Q<K<@<%!LV%!4*.!5.!4*#+'%)<2!?AII/DF2!
E<K!ID2!/D1:8.
E@%
720?:;6%D4%7:;<01B%2%843C6D6<D%2<5%D61D65%5;0K6;G%
D4%AB43%DB6%4A<6;%4;%4C6;2D4;%3:1D%011:6G%AB6<%
6116<D02?G% C;4C6;% 0<1D;:8D04<1% 74;% 1276% 32<6:H
K6;0<=%4<%DB6%B0=BA2FJ%,4<#>!5.!E$7$62!FF!"W'6.!
FG8.
>8@%
720?:;6% D4% 56D68D% 2% 56768D% 0<% 2<% 2CC?02<86% C:;H
8B2165%7;43%2%32<:728D:;6;G%2%56768D%DB2D%84:?5%
B2K6%E66<%50184K6;65%EF%DB6%82;;06;J%,9$&$%%')*!
5.!"<#<%2!$)!<6.2!BC!?A/010;!<+7!?A/01012!aV+.!
F02!/D;38.!>+6;6G%DB6%!4:;D%1205%DB2D%2%C2116<=6;%
5461% +*)% B2K6% DB6% 4CC4;D:<0DF% 74;% 0<1C68D04<G%
AB08B%4;50<2;0?FG%01%2K20?2E?6%D4%DB6%82;;06;J@
(
(
(
N16"9'0(B6204.4%(O,(
-'2'9$%#4(9'(N4"4
N?K))S)3(^62,(K+3()T+R
!
!
P-4QRS%S%5;0K6;%47%2%R66C<6F%A21%74:<5%
;68_?611?F% <6=?0=6<DG% DB6;6EF% 82:10<=% 0<R:;061%
D4%B01%C2116<=6;J%"1%DB6%4A<6;H4C6;2D4;%47%DB6%
R66C<6F%?02E?6%74;%6M63C?2;F%5232=61%>0<%2550H
D04<%D4%4DB6;%_0<51%47%5232=61@d
%
!
TN?=S! -4D% <686112;0?FJ% S% C;0<80C2?% 4;%
321D6;%82<%E6%B6?5%?02E?6%74;%6M63C?2;F%4;%C:<0H
D0K6%5232=61%E2165%:C4<%DB6%A;4<=7:?%28D%47%B01%
2=6<D%4;%16;K2<D%4<?F%AB6<%B6%C2;D080C2D65%0<%
DB6%540<=%47%1:8B%A;4<=7:?%28D%4;%B21%C;6K04:1?F%
2:DB4;0[65%4;%1:E169:6<D?F%;2D0!%65%0DG%A0DB%7:??%
_<4A?65=6%47%DB6%728D1J%(M63C?2;F%5232=61%C:<H
01B%DB6%0<D6<D%h%2<5%DB01%82<<4D%E6%C;61:365%
4<%DB6%C2;D%47%DB6%63C?4F6;%36;6?F%E682:16%47%
DB6%A2<D4<G%4CC;6110K6G%4;%32?0804:1%0<D6<D%4<%
DB6%C2;D%47%DB6%2=6<DJ
/\Y
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aN
(
(
!<=4423('#(4&,(O,(-'&&10$&&13('#(4&,
@!?QM(S+RXU?M3(^6&,(R3()TR)
%
%
*B6%0<R:;65%C2116<=6;1%47%2%C:E?08%:D0?0DF%
R66C% 5;0K6<% EF% 2% ;68_?611% 5;0K6;% 82<% 1:6% DB6%
4A<6;H4C6;2D4;1%47%DB6%R66C%A0DB4:D%DB6%<6861H
10DF%47%!%;1D%E;0<=0<=%2%8;030<2?%8216%2=20<1D%1205%
5;0K6;J%*B6%=4K6;<0<=%?2A%0<%1:8B%2%8216%01%DB6%
!0K0?%!456%AB08B%;69:0;61%84334<%82;;06;1%D4%
82;;F%DB60;%C2116<=6;1%1276?F%D4%DB60;%561D0<2H
D04<1G% A0DB% DB6% 6M6;8016% 47% 6MD;24;50<2;F% 50?0H
=6<86J%!4<1056;0<=%DB6%<6=?0=6<86%47%DB6%5;0K6;G%
0D% 01% 8?62;% DB2D% :<56;% DB6% 321D6;% 2<5% 16;K2<D%
;:?6G%DB6%?02E0?0DF%47%DB6%4A<6;1H4C6;2D4;1%01%<4D%
1:E10502;FG%E:D%50;68D%2<5%0336502D6J%"<5665G%
DB6% <6=?0=6<86% 47% DB6% 16;K2<D% 0<% 84<D;28D:2?%
4E?0=2D04<1%01%DB6%<6=?0=6<86%47%DB6%321D6;J%*B6%
321D6;% 2<5% 16;K2<D% ;:?6% 01% 2?14% _<4A<% 21% DB6%
548D;0<6% 47% k#$%(*+7$<)! %V($#'*#.m! c<56;% DB01%
;:?6G%DB6%321D6;G%D4%6182C6%?02E0?0DFG%82<<4D%C:D%
:C%DB6%5676<16%47%2%=445%72DB6;%0<%DB6%16?68D04<%
2<5%1:C6;K0104<%47%63C?4F661%>6M86CD%D4%30D0=2D6%
1205%?02E0?0DFG%07%DB01%5676<16%01%5:?F%C;4K65@J%
>E@% 4^?"-!-h^]?]-9%
%
S%($7$%)#'<+%A21%B0D%EF%2%D2M0%2<5%1:776;65%CBF1082?%
0<R:;061J%*B6%D2M0%5;0K6;%A21%+$e6'e$+)%2<5%A21%;61C4<10E?6%
74;%DB6%0<R:;FJ
/@%
*B01%01%&V6(<!<YV'6'<+<G%DB6;6%E60<=%<4%C;6K04:1%6M01DH
0<=%84<D;28D:2?%;6?2D04<1%E6DA66<%DB6%C6561D;02<%4<%
DB6%4<6%B2<5G%2<5%DB6%D2M0%5;0K6;%2<5%DB6%4A<6;%47%
DB6%D2M082E%843C2<FG%:C4<%DB6%4DB6;%B2<5J%,R$$!T$#A
+<+7$d!5.!E$#<6&*2!:0!H.B.!/0!R.!9*.!//2!(.!F;i!?'6'V%!
5.!E<+'6<!C<'6#*<7!4*.2!;D!"W'6.!G;3!<+7!BV)'$##$d!
5.!BV)'$##$d2!;1!"W'6.!/GG8.
N@%
*B6%0<R:;65%C6561D;02<%82<%E;0<=%2<%28D04<%E2165%4<%
&V6(<!<YV'6'<+<!>D4;D%4;%YV<%'A7$6'&)@%2=20<1D%O&*+%
DB6%)<J'!7#'5$#!2<5%DB6%*X+$#!4;%*($#<)*#!47%DB6%D2M082E%
843C2<FJ% C$<%*+S% *B6% 5;0K6;% 01% ;61C4<10E?6% 74;% B01%
+$e6'e$+&$!'+!O<M'+e!(*%%'@6$!)W$!'+UV#KJ
/\Z
%
S;DJ%//aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
Q@%
*+(b()&b(G%0<%DB01%8216%47%&V6(<!<YV'6'<+<2%07%DB6%
*X+$#!82<%C;4K6%5:6%50?0=6<86%0<%DB6%%$6$&)'*+!2<5%
%V($#5'%'*+%47%B01%7#'5$#G%B6%84:?5%<4D%B2K6%E66<%;6H
1C4<10E?6%0<%2<F%A2F%74;%DB6%0<R:;FJ%*B:1G%DB01%7$>$+%$%
01%C;4C6;%74;%DB6%63C?4F6;G%2<5%07%C;4K65G%A0??%6M63CD%
B03%7;43%?02E0?0DFJ%>+6;6G%DB6%321D6;H16;K2<D%;:?6%
5461%<4D%2CC?F@J%,L<W'<!5.!?')*+UV<!b!?$K+$%2!F0!"W'6.!
:I:!<+7!T$#+<+7$d!5.!E$#<6&*2!:0!H.B.!_/0!R`!9*.!/:2!!
(.!F;8.
\@%
.0<86%0D%01%DB6%C6561D;02<%AB4%2??6=61%<6=?0=6<86%4<%
DB6%C2;D%47%DB6%5676<52<DG%0D%01%B01%>DB6%C6561D;02<L1@%
5:DF%D4%C;616<D%2<5%C;4K6%1205%<6=?0=6<86J%"<%4DB6;%
A4;51G%B6%A0??%B2K6%DB6%E:;56<%47%C;447J%S1%1D2D65%EF%
DB6%.:C;636%!4:;DI%VS1%2%=6<6;2?%;:?6G%0D%01%?4=082?%
DB2D%0<%8216%47%&V6(<!<YV'6'<+<2!2%1:0<=%8;650D4;%1B4:?5%
211:36% DB6% E:;56<% 47% (#*5'+e! DB6% 6M01D6<86% 47% DB6%
<6=?0=6<86G%21%DB6%4<?F%728D%:C4<%AB08B%B01%28D04<%01%
E2165JX%,4<+e&*!5.!E<+'6<!C<'6#*<7!4*.2!F3!"W'6.!G1D2!
&')'+e!E<+#$%<8.
(
(
(
>=4k'V3('#(4&,(O,(D1"#8(D':"10(
[6:4"(@1,3(>2%,3('#(4&,
N?+XT*3(B4",(KR3()TSS
%
%
,2116<=6;1%47%2%C;0K2D6%2:D434E0?6%AB4%E;4:=BD%
2%8;030<2?%28D04<%2=20<1D%DB6%5;0K6;%47%2%D;20<G%2<5%
AB4%;616;K65%2%80K0?%28D04<%2=20<1D%DB6%D;20<%4A<6;G%
82<% 1D0??% E;0<=% 4<% DB6% E2101% 47% &V6(<! <YV'6'<+<! DB6%
80K0?%8216%2=20<1D%DB6%D;20<%4A<6;G%6K6<%07%DB6%5;0K6;%
E6%<&YV'))$7!0<%DB6%8;030<2?%8216J
%
!
>9HQNS%(K6<%A0DB4:D%;616;K2D04<G%DB6%80K0?%8216%
82<%2?14%C;41C6;J%*B01%01%E682:16%DB6%D;20<%4A<6;%01%
+*)!#$<66K!2%5676<52<D%0<%DB6%8;030<2?%8216J%`4;64K6;G%
166%S;DJ%N/aaG%!0K0?%!456J@
(
(
M4<10(O,(J'/0$?@1&4
N?KKSLL3(P'=,(T3()T+X
(
!
P-4QRS! S% 5;0K6;% 47% ,6C10H!4?2% 01% 2530DD65?F%
<6=?0=6<D%0<%2%K6B08:?2;%84??0104<J%.:0D%A21%E;4:=BD%
/]T
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aN
EF%DB6%4DB6;%82;%4A<6;%2=20<1D%E4DB%DB6%5;0K6;%2<5%
,6C10H!4?2J%O:D%,6C10H!4?2%A21%2E?6%D4%C;4K6%50?0=6<86%
0<%16?68D04<%,+*!&V6(<!'+!$6'e'$+7*8!2<5%1:C6;K0104<%,+*!
&V6(<!'+!5'e'6<+7*8!47%DB6%5;0K6;J%]%%V$S!"1%,6C10H!4?2%
1D0??%?02E?6d
%
!
TN?=S!-4G%4DB6;A016%0D%A4:?5%B2K6%E66<%?02E?6%
14?052;0?F%A0DB%DB6%5;0K6;J%"<%,B0?0CC0<6%D4;D1G%A6%54%
+*)!74??4A%DB6%548D;0<6%47%#$%(*+7$<)!%V($#'*#%>AB6;6%
DB6%<6=?0=6<86%47%DB6%16;K2<D%01%DB6%<6=?0=6<86%47%DB6%
321D6;@J%"<1D625G%A6%74??4A%DB6%;:?6%47%@*+V%!><O'6'<%%
>=445%72DB6;%47%2%7230?F@J%*B6%<6=?0=6<86%47%DB6%63H
C?4F6;%B6;6%01%*+6K!(#$%VO()'5$i%0D%82<%DB6;674;6%E6%
;6E:DD65G%21%0<%DB01%8216J
(
(
e$2&642(O,(@16"#(1;(!//'4&0
N?K)UXX?R)3(!/",(KT3()T++
(
!
P-4QRS!S%C2116<=6;%47%2%E:1%A21%B:;D%E682:16%
47%DB6%<6=?0=6<86%47%DB6%5;0K6;%47%DB6%E:1%21%A6??%21%
DB6%<6=?0=6<86%47%DB6%5;0K6;%47%2<4DB6;%K6B08?6J%]%%V$S!
PB4%1B4:?5%E6%?02E?6d
%
!
TN?=S%S884;50<=%D4%DB6%84:;DG%74:;%C6;14<1%2;6%
?02E?6I% DB6% 4A<6;% 47% DB6% E:1G% DB6% 5;0K6;% 47% DB6% E:1G%
DB6%4A<6;%47%DB6%4DB6;%K6B08?6G%2<5%DB6%5;0K6;%47%1205%
4DB6;% K6B08?6% h% 2<5% DB60;% ?02E0?0DF% 01% .&$"'Sbe%
h%<4DA0DB1D2<50<=%DB6%728D%DB2D%DB6%?02E0?0DF%47%DB6%
E:1%843C2<F%01%C;65082D65%4<%2%!&-*bS!*G%AB0?6%
DB6%?02E0?0DF%47%DB6%4A<6;%2<5%5;0K6;%47%DB6%4DB6;%K6H
B08?6% 01% E2165% 4<% 2% mcS."H'($"!*J% >&E16;K2D04<I%
*B6%E:1%5;0K6;%82<%E6%6M8:165%4<%DB6%E2101%47%&V6(<!
&*+)#<&)V<6%74;%DB6%84<D;28D%47%84334<%82;;02=6%A21%
<4D%A0DB%B03G%E:D%A0DB%DB6%E:1%843C2<FW%<4<6DB6?611G%
B6%82<%E6%B6?5%?02E?6%4<%DB6%E2101%47%&V6(<!<YV'6'<+<G%
DB6;6%E60<=%<4%C;6H6M01D0<=%84<D;28D%E6DA66<%B03%2<5%
DB6%C2116<=6;J%-4D6%2?14%DB2D%DB6%4A<6;%47%DB6%4DB6;%
K6B08?6%82<%E6%6M8:165%07%B6%82<%C;4K6%5:6%50?0=6<86%
0<%DB6%16?68D04<%2<5%1:C6;K0104<%47%B01%5;0K6;G%:<56;%
S;DJ%N/YTG%?21D%C2;2=;2CBG%:<?611%2D%DB6%D036%47%DB6%
84??0104<G%1205%4A<6;%A21%2?14%0<%B01%K6B08?6G%0<%AB08B%
8216G%<4DA0DB1D2<50<=%5:6%82;6%0<%16?68D04<%2<5%1:H
/]/
%
S;DJ%//aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
C6;K0104<G%B6%A4:?5%1D0??%E6%?02E?6G%07%B6%84:?5%B2K6G%EF%
:16%47%50?0=6<86%C;6K6<D65%DB6%30174;D:<6J%,R$$!-#).!
I/3:2!4'5'6!4*7$8.
(
(
J'1/&'(O,(!&'_429"1(A,(E423(^",
@!?QM(K)TUX?@M3(^6&,(K)3()TR)
(
%
"7%2%5;0K6;%4<%4<6%1056%47%DB6%1D;66D%5610;61%D4%
8;411%DB6%1236%D4%E6%4<%DB6%4DB6;%1056G%0D%01%<4D%1:7H
!%806<D%74;%B03%D4%C:D%4<%DB6%?67D%10=<2?%?0=BD%47%DB6%
K6B08?6J%"D%01%47%R:50802?%<4D086%DB2D%32<F%5;0K6;1%0<%
4:;%84:<D;F%D452F%C2F%?0DD?6%B665%D4%1:8B%2%10=<2?G%C2;H
D08:?2;?F%07%DB6%K6B08?6%E60<=%5;0K6<%EF%2<%2CC;428B0<=%
5;0K6;%01%1C6650<=J%PB2D%DB6%5;0K6;%0<D6<D%4<%8;4110<=%
1B4:?5%54%01%D4%103C?F%PS"*%74;%DB6%4DB6;%K6B08?6%D4%
C211G%74;%27D6;%2??G%DB6%4DB6;%5;0K6;%B21%DB6%;0=BD%47%
A2FJ%)20?:;6%D4%14%A20D%01%1B66;%<6=?0=6<86J
>8@%
4^?"-!4C]E]9-?
!!
%
S%($7$%)#'<+%A21%0<R:;65%E682:16%47%DB6%#$&M6$%%+$%%%
47%2%D2M0H5;0K6;J%S1%A6%B2K6%2?;625F%166<G%DB6%C6561D;02<%
82<%E;0<=%2<%28D04<%47%&V6(<!<YV'6'<+<!2=20<1D%DB6%7#'5$#!
2<5%DB6%*X+$#!47%DB6%D2M0%843C2<FJ%O:D%07%DB6%C6561D;02<%
X<+)%2!B6%32F%E;0<=%2<%28D04<%74;%&V6(<!&#'O'+<6!>CBF10H
82?%0<R:;061%DB;:%;68_?611%03C;:56<86@J%"<%DB6%1236%A2FG%
(<%%$+e$#%32F%E;0<=%<4D%4<?F%2%1:0D%74;%&V6(<!&*+)#<&)V<6%
E:D%2?14%2%1:0D%74;%&V6(<!&#'O'+<6%>CBF1082?%0<R:;061%DB;:%
;68_?611%03C;:56<86@J
%
"#*&$7V#$!)*!@$!>*66*X$7S
!
%
*B6%'+UV#$7!($7$%)#'<+!A0??%!%?6%2%8;030<2?%8216%
<e<'+%)! DB6% 7#'5$#% ><4D% 2=20<1D% DB6% 4A<6;@J% "7% DB6%
5;0K6;%01%74:<5%=:0?DFG%DB6%4A<6;%A0??%E6%%V@%'7'<#'6K!
6'<@6$! 07% DB6% 5;0K6;% 01% '+%*65$+)J% *B6% 4A<6;% A0??% +*)%
E6% 2??4A65% D4% C;616<D% DB6% 5676<16% 47% 5:6% 50?0=6<86%
0<%DB6%16?68D04<%2<5%1:C6;K0104<%47%B01%63C?4F66G%74;%
B01%?02E0?0DF%01%2:D432D08%2<5%1:E10502;FJ%*B6;6%01%+*!
<686110DF%47%C;6K04:1?F%;616;K0<=%DB6%8216%<e<'+%)!DB6%
4A<6;%>E682:16%DB6%4A<6;%01%<4D%2%5676<52<D%0<%DB6%
8;030<2?%8216@J%S7D6;%DB6%8;030<2?%8216%01%D6;30<2D65G%
DB6%84<K08D65%5;0K6;%1B4:?5%C2FJ%"7%DB6%5;0K6;%E6%'+%*6A
/]N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aN
5$+)2!DB6%K08D03%82<%<4A%!%?6%2%80K0?%<&)'*+!<e<'+%)%DB6%
4A<6;%D4%;684K6;%4<%DB6%6<))$#\%!%V@%'7'<#K!6'<@'6')K.%
S??%DB6%K08D03%B21%D4%54%01I
2@%
*4%C;616<D%DB6%R:5=36<D%0<%DB6%8;030<2?%8216G%
568?2;0<=%DB6%5;0K6;%eV'6)K.
E@%
*4%C;616<D%(#**>!*>!7#'5$#\%!'+%*65$+&K!EF%1B4AH
0<=%DB2D%DB6%6M68:D04<%2DD63CD65%EF%DB6%1B6;077%
84:?5%+*)!@$!%<)'%!!$7J%"<%DB6%2E16<86%47%84??:104<%
E6DA66<% DB6% 5;0K6;% 2<5% C;4168:D0<=% 2DD4;<6FG%
4<86%DB6%N%6MB0E0D1%2;6%C;616<D65%4;%C;4K65G%DB6%
R:5=6%1B4:?5%4;56;%DB6%*X+$#!)*!(<K.%*B6%4A<6;%
A0??%<4D%E6%2??4A65%D4%C;616<D%2<F%5676<16%2<FH
34;6J%+6%82<<4DG%B4A6K6;G%E6%1205%D4%B2K6%E66<%
56C;0K65%47%B01%52F%0<%84:;D%E682:16%B6%2?14%B25%
B01%8B2<86G%+<O$6K2!0<%DB6%8;030<2?%8216%2=20<1D%
DB6% 5;0K6;J% ]+! %<'7! &<%$2! W$! %W*V67! W<5$! e'5$+!
W'%! 7#'5$#! <! e**7! 7$>$+%$! &*V+%$62! @$&<V%$! '+!
7$>$+7'+e! )W$! '+)$#$%)! *>! )W$! 7#'5$#2! )W$! *X+$#!
X*V67! <6%*! @$! 7$>$+7'+e! W'%! *X+! '+)$#$%)2! 74;%
B01%?02E0?0DF%01%<V)*O<)'&!<+7!7$($+7$+)!*+!)W$!
7#'5$#\%! eV'6)! <+7! '+%*65$+&K.! QW'%! '%! )W$! #V6$!
'+! &V6(<! &#'O'+<6.! ,R$$! E<#'<! ?V'%<! E<#)'+$d!
5.! E<+V$6! T.! L<##$7*2! $)! <6.2! BC! :DF03! <+7!
L<##$7*!5.!B<#&'<2!GF!"W'6.!10G8.
!
!
>9HQNS%"7%2%(<%%$+e$#!1:61%74;%&V6(<!&#'O'A
+<62! 1:E1D2<D02??F% DB6% 1236% C;4865:;6% 21% DB6%
2E4K6%A4:?5%E6%74??4A65J@
GXH( [1<'(@40'0
(
(
-4""'91(O,(Q4"%$4(429(!&<4"$1
XL(J8$&,(+*X
(
!
P-4QRS%S%D2M0H5;0K6;%47%O2;;654%_0??65%f2;802%DB;:%;68_H
?611%5;0K0<=%AB6<%DB6%5;0K6;%B0D%DB6%&<##$)$6<%AB6;6%f2;802%A21%
2%C2116<=6;J%*B6%5;0K6;%A21%74:<5%=:0?DF%0<%DB6%8;030<2?%8216%
,&V6(<!&#'O'+<68.!O:D%DB6%80K0?%28D04<%B25%E66<%;616;K65J%$2D6;G%
DB6% B60;1% 47% f2;802% E;4:=BD% 2% 80K0?% 28D04<% ,&V6(<! <YV'6'<+<8!
50;68D?F% 2=20<1D% O2;;654G% DB6% 4A<6;% 47% DB6% D2M082E% 843C2<F%
/]Q
%
S;DJ%//aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
>`2?2D6% *2M082E% !43C2<F@J% "D% A21% C;4K65% DB2D% O2;;654% A21%
<6=?0=6<D%74;%B01%5;0K6;%B25%E66<%63C?4F65%EF%B03%6K6<%07%B6%
B25%C;6K04:1?F%E66<%84<K08D65%74;%K04?2D04<%47%DB6%S:D434E0?6%
$2AJ%O2;;654%84<D6<565G%B4A6K6;G%DB2D%DB6%28D04<%1B4:?5%+*)!
B2K6%E66<%E;4:=BD%2=20<1D%B03%2D%4<86G%E682:16%2884;50<=%D4%
DB6%b6K0165%,6<2?%!456G%B6%1B4:?5%E6%?02E?6%4<?F%07%DB6%5;0K6;%
82<<4D%C2FG%2<5%DB2D%DB6;674;6G%DB6%80K0?%28D04<%1B4:?5%B2K6%E66<%
E;4:=BD%!%;1D%2=20<1D%DB6%5;0K6;G%2<5%DB6<G%07%DB6%5;0K6;%01%74:<5%
=:0?DF%2<5%0<14?K6<DG%DB01%A4:?5%<4D%E6%DB6%C;4C6;%D036%D4%D2_6%
DB6%28D04<%2=20<1D%B03%>O2;;654@J%'68056J
%
!
TN?=S! O2;;654% 01% 84<7:165J% "D% 01% D;:6% DB2D% 0<% 2% 80K0?%
4E?0=2D04<% 2;010<=% 7;43% 2% 8;036G% DB6% 63C?4F6;% A4:?5% E6% 4<?F%
%V@%'7'<#'6K!?02E?6%0<%8216%DB6%63C?4F66%84330DD65%DB6%8;036%0<%
DB6%5018B2;=6%47%B01%5:D061J%Oc*%DB01%8216%01%<4D%4<6%47%DB6%80K0?%
?02E0?0DF%2;010<=%7;43%2%8;036G%E:D%4<6%2;010<=%7;43%2!YV<%'A7$6'&)!
4;%&V6(<!<YV'6'<+<J%S<5%:<56;%DB6%!0K0?%!456%C;4K0104<1%4<%D4;D1G%
2<%63C?4F6;%0<%2%8216%?0_6%DB01%01%<4D%36;6?F%1:E10502;0?FG%E:D%
(#'O<#'6K%?02E?6G%2<5%DB6;674;6%2%8216%82<%E6%E;4:=BD%50;68D?F%
2=20<1D%B03J%+01%5676<16%82<%E6%5:6%50?0=6<86%0<%DB6%16?68D04<%
2<5%1:C6;K0104<%47%B01%63C?4F661G%E:D%B6;6G%B6%X<%!(#*5$7%D4%E6%
<6=?0=6<DJ%+6<86G%B6%82<%E6%3256%D4%C2F%0336502D6?FJ
(
(
D4:"42$4(O,(B6&642'.3(>2%,
N?RLK+3(A%#,(KU3()TSS
(
!
P-4QRS!*B6%5;0K6;%47%2<%63C?4F6;%A21%&#'O'+<66K!74:<5%
eV'6)K!47%5232=6%D4%C;4C6;DFG%2<5%E682:16%B6%A21%'+%*65$+)2!DB6%
63C?4F6;%A21%1:65%74;%B01%1:E10502;F%80K0?%?02E0?0DFJ%*B6%K08D03%
21_65%74;%,/GQTTG%E:D%DB6%63C?4F6;G%0<%B01%2<1A6;G%2530DD65%?0H
2E0?0DF%74;%4<?F%,QTT%>4;%,/GTTT%6$%%@J%]%%V$S!"7%E4DB%C2;D061%21_65%
74;%R:5=36<D%4<%DB6%C?6250<=1G%82<%DB6%63C?4F6;%E6%B6?5%?02E?6%
74;%DB6%AB4?6%,/GQTT%AB08B%B25%E66<%25R:5=65%21%DB6%5;0K6;L1%
?02E0?0DFd
!
!
TN?=S!e61G%E682:16%47%B01%<V)*O<)'&!%V@%'7'<#K!?02E0?0DF%
4<86%DB6%5;0K6;%01%74:<5%&#'O'+<66K!eV'6)K!<+7!'+%*65$+)J%*B6%4776;%
47%,QTT%A21%2<%03C?065%25301104<%47%E4DB%DB6%5;0K6;L1%84<K08D04<%
2<5%0<14?K6<8FJ%*B2D%B6%2530DD65%2%6$%%!234:<D%01%'OO<)$#'<6!
74;G%:<56;%DB6%?2AG%B01%01%2%&*O(6$)$!1:E10502;F%?02E0?0DFJ
/]\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aN
(
(
B4"$4(N6$04(B4"#$2'V(O,(B426'&(-,(-4""'913
'#(4&,3(QM(UTL*R
(
!
P-4QRS! &<% SC;J% //G% /Z\T% 2% D2M082E% 4A<65% EF% )2:1D4%
O2;;654%2<5%5;0K6<%EF%b416<54%'0=32<%84??0565%A0DB%2%!B6KH
;4?6D%82;%5;0K6<%EF%`2;02%$:012%`2;D0<6[J%S%8;030<2?%8216%A21%
0<1D0D:D65%2=20<1D%DB6%D2M0%5;0K6;G%AB4%C?62565%=:0?DFG%2<5%A21%
3256%D4%C2F%2%!%<6%2<5%D4%'+7$O+'>K!`2;D0<6[J%':6%D4%'0=32<L1%
'+%*65$+&KG%`2;D0<6[%!%?65%2<%28D04<%2=20<1D%O2;;654%D4%B4?5%B03%
%V@%'7'<#'6K!6'<@6$J%SD%DB6%D;02?G%`2;D0<6[%;6?065%14?6?F%4<I
2@%
DB6%R:5=36<D%47%84<K08D04<%2=20<1D%'0=32<W
E@%
DB6%A;0D%47%6M68:D04<%011:65%2=20<1D%'0=32<%2<5%C;447%47%
B01%0<14?K6<8FJ!
!
!
]RR^NS% P4:?5% DB6% 6K056<86% 47% `2;D0<6[% E6% 1:7!%806<D% D4%
B4?5%O2;;654%80K0??F%?02E?6d
%
!
TN?=S!e61G%DB6%R:5=36<D%47%84<K08D04<%C?:1%C;447%47%0<H
14?K6<8F%01%%V>!!&'$+)%D4%B4?5%DB6%63C?4F6;%1:E10502;0?F%?02E?6W%
0<%DB6%2E16<86%47%84??:104<%E6DA66<%DB6%5;0K6;%2<5%DB6%K08D03G%
DB6%1D0=32%47%2%8;030<2?%84<K08D04<%1:;C21161%0<%67768D%36;6%80K0?%
?02E0?0DFJ%!4334<%16<16%508D2D61%DB2D%2%!%<50<=%47%=:0?D%0<%2%8;030H
<2?%8216%0<%AB08B%C;447%E6F4<5%;6214<2E?6%54:ED%01%<686112;FG%
1B4:?5% <4D% E6% <:??0!%65% 0<% 2% 1:E169:6<D% 80K0?% 28D04<% ;69:0;0<=%
4<?F%C;6C4<56;2<86%47%6K056<86J%O2;;654%82<<4D%E6%1205%D4%B2K6%
E66<% 56C;0K65% 47% B01% 52F% 0<% 84:;D% E682:16% DB6% ?02E0?0DF% ;62??F%
56C6<565% :C4<% DB6% 5;0K6;L1% eV'6)! 2<5% '+%*65$+&KG% DB6% ?02E0?0DF%
E60<=% 2:D432D08% 2<5% 1:E10502;FJ% "D% 01% B0=B% D036% DB2D% 63C?4FH
6;1%1B4:?5%B2K6%DB60;%63C?4F661%5676<565%K6;F%A6??G%1:CC?F0<=%
DB63%A0DB%84:<16?G%74;%0<%5676<50<=%B01%63C?4F661L%0<D6;61D%>0<%
2%8;030<2?%8216@G%B6G%DB6%63C?4F6;G%01%2:D432D082??F%5676<50<=%
B0316?7J%"D%A4:?5%B2K6%E66<%50776;6<D%B25%DB6%8216%E66<%4<6%47%
&V6(<!<YV'6'<+<J
%
!
_9HQNS!*B01%;:?0<=%A21%;60D6;2D65%0<%DB6%8216%47%E<+<6*2!
$)!<6.!5.!C*@6$%!Q#<+%.!4*.2!]+&.2!?A3/G/2!-Ve.!/12!/D;1J%"<%1205%
8216%DB6%!4:;D%2?14%B6?5%DB2D%DB6%1B6;077L1%;6D:;<%47%DB6%A;0D%47%
6M68:D04<%1B4A0<=%<4<H12D01728D04<%47%DB6%R:5=36<D%E682:16%47%
288:165L1%0<14?K6<8F%A21%<7O'%%'@6$%0<%6K056<86%2<5%DB6%1B6;077%
5461%<4D%<665%D4%D61D07F%0<%84:;D%21%D4%DB6%728D%1D2D65%0<%DB6%6<D;F%
E682:16%0D%01%2<%47!%802?%R:5=36<DJ%`4;64K6;G%DB6%80K0?%8216%82<%
/]]
%
S;DJ%//aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
E6%E;4:=BD%+*)!X')W'+!*+6K!>*V#!K$<#%!E:D%A0DB0<%D6<%>/T@%F62;1%
E682:16%0D%2;0161%4:D%47%2%!%<2?%R:5=36<DJk
(
(
J'1/&'(1;(#8'(J8$&$//$2'0(O,(^'060(e'"421
N?)SR*S3(P'=,(KR3()T+)
(
!
P-4QRS!'430<254;%,2;21G%2%C2116<=6;%0<%2%D;:8_%47%DB6%
`0<52<24%O:1%!4JG%A21%_0??65%AB6<%DB6%D;:8_%5;0K6<%EF%^61:1%
#6;2<4%!%=:;65%0<%2%K6B08:?2;%288056<DJ%*B6%O:1%!4J%C205%DB6%
B60;1%47%DB6%56862165%,QGTTTJ%`;1J%,2;21G%0<%B6;%4A<%E6B2?7G%2<5%
4<%E6B2?7%47%B6;%30<4;%8B0?5;6<%A0DB%DB6%56862165G%X<'5$7!7:;DB6;%
;0=BD1%D4%;684K6;%5232=61J%#6;2<4%A21%1:E169:6<D?F%8B2;=65%
A0DB%B4308056%DB;:%;68_?611%03C;:56<86J%S7D6;%D;02?G%DB6%?4A6;%
84:;D%74:<5%B03%=:0?DFJ%"<%2550D04<%D4%DB6%16<D6<86%47%03C;01H
4<36<DG%#6;2<4%A21%4;56;65%D4%C2F%DB6%B60;1%47%DB6%56862165G%
,2;21G%DB6%1:3%47%,]GTTT%A0DB%1:E10502;F%03C;014<36<D%0<%8216%
47%0<14?K6<8FJ%*B6%011:61%2;6%AB6DB6;%DB6%A20K6;%0<%72K4;%47%DB6%
843C2<F%63E;2861%DB6%80K0?%?02E0?0DF%47%DB6%5;0K6;W%AB6DB6;%DB6%
;0=BD%D4%;684K6;%:C4<%DB6%80K0?%?02E0?0DF%2;010<=%7;43%DB6%8;036%
32F%E6%A20K65%2<5%AB6DB6;%1:8B%A20K6;%32F%E6%3256%0<%E6B2?7%
47%DB6%30<4;%B60;1%EF%DB60;%34DB6;J
%
!
TN?=S
2@%
*B6%A20K6;%0<%72K4;%47%DB6%843C2<F%0<8?:561%DB6%80K0?%?0H
2E0?0DF%47%DB6%5;0K6;G%74;%0<%8216%47%0<14?K6<8F%4<%DB6%C2;D%47%
DB6%5;0K6;G%DB6%843C2<F%01%6'<@6$!:<56;%DB6%b6K0165%,6<2?%
!456J%)4;%DB6%B60;1%D4%2?14%;684K6;%7;43%DB6%5;0K6;%A4:?5%
E6%D4%=;2<D%DB63%7*V@6$!0<563<0DFJ
E@%
c<56;%DB6%b:?61%47%!4:;DG%80K0?%?02E0?0DFG%AB6DB6;%2;010<=%
7;43%2%8;036%4;%<4DG%82<%E6%A20K65J
8@%
*B6%A20K6;%EF%`;1J%,2;21%0<%B6;%4A<%E6B2?7%01%K2?05G%E:D%
<4D% DB2D% 0<% E6B2?7% 47% B6;% 30<4;% 8B0?5;6<G% 10<86% 2?DB4:=B%
1B6%01%DB6%2530<01D;2D4;%47%DB60;%C;4C6;DFG%DB6%A20K6;%4;%
843C;43016%1B4:?5%B2K6%B25%84:;D%2CC;4K2?G%E60<=%2<%28D%
47% 4A<6;1B0C% 2<5% <4D% 36;6% 2530<01D;2D04<J% ,-#)%.! FI02!
I0FI2!4'5'6!4*7$!<+7!j'%<K<+!5.!RVeV')<+2!?A3F002!9*5.!
/32!/D;;8.%*B6;674;6G%10<86%,QGTTT%B25%2?;625F%E66<%C205G%
DB6%B60;1%32F%1D0??%;684K6;%,NGTTTG%DB6%C2;D%DB2D%B25%-&*%
E66<%K2?05?F%A20K65J%"<%4DB6;%A4;51G%DB6%0<563<0DF%0<%DB6%
8;030<2?%8216%A21%;65:865%D4%,NGTTTJ
/]U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
5@%
S;DJ%//aN
-#).!I/GG!%<K%S!Vb61C4<10E0?0DF%74;%72:?D%4;%<6=?0=6<86%:<56;%
S;DJ%N/aU%h%&V6(<!<YV'6'<+<%h%01%6<D0;6?F%%$(<#<)$!2<5%7'%A
)'+&)!7;43%DB6%80K0?%?02E0?0DF%2;010<=%7;43%<6=?0=6<86%:<56;%
DB6%,6<2?%!456%,$J!7$6'&)*8J%O:D%DB6%C?20<D077%&<++*)%#$&*5$#!
)X'&$!74;%DB6%%<O$!28D%4;%4301104<%47%DB6%5676<52<DJX
(
(
e$"4#4(O,(A%814
N?U+)XT3(^42,(L)3()TXR
(
%
S%5;0K6;L1%289:0DD2?%0<%2%8;030<2?%8216%01%<4D%2%E2;%D4%
2% 80K0?% 8216% 74;% 5232=61J% PB2D% 01% C;4B0E0D65% 01% 2% 7*V@6$!
;684K6;F%74;%DB6%1236%<6=?0=6<D%28DJ
GRH( C;;'%#0(1;(e$%#$<Z0(A72(D':&$:'2%'(429(1;(a$0(@12#"$=6?
#1".(D':&$:'2%'
>2@% PB6<%2%C?20<D077L1%4A<%<6=?0=6<86%A21%DB6%'OO$7'<)$%2<5%
(#*J'O<)$!82:16%47%B01%0<R:;FG%B6%82<<4D%;684K6;%5232=61%
>E682:16%DB6;6%01%<4%&V6(<!<YV'6'<+<%4<%DB6%C2;D%47%DB6%56H
76<52<D@J%,-#).!I/GD2!4'5'6!4*7$8.%NJ<O(6$S%S%C6561D;02<G%
<4D%?44_0<=%AB6;6%B6%A21%=40<=G%E:3C65%0<D4%2%82;67:??F%
5;0K6<%82;J%+6%&<++*)!;684K6;%5232=61%0<%&V6(<!<YV'6'<+<J%
S1%2%32DD6;%47%728DG%07%2<F%5232=6%A21%82:165%DB6%82;G%DB6%
4A<6;%82<%;684K6;%7;43%DB6%C6561D;02<J
(
(
A2:(O,(B'#"1/1&$#42(`4#'"(I$0#"$%#
N?X++U3(!6:,(KT3()T+R
(
!
P-4QRS!S%K010D4;%A21%5;4A<65%0<%2%1A0330<=%;614;D%
5:6%D4%B01%4A<%<6=?0=6<86G%2<5%561C0D6%3621:;61%4<%DB6%C2;D%
47%DB6%;614;D%2:DB4;0D061%D4%12K6%B03J%]%%V$S!"1%DB6%;614;D%
?02E?6d
%
!
TN?=S%-4G%DB6%;614;D%01%-&*%?02E?6J%PB0?6%0D%01%5:DFH
E4:<5% D4% C;4K056% 74;% 1276DF% 3621:;61G% 1D0??% 0D% 01% <4D% 2<%
2E14?:D6%0<1:;6;%47%DB6%1276DF%47%0D1%8:1D436;1%4;%K010D4;1J%
*B6%548D;0<6%47%V?21D%8?62;%8B2<86X%82<<4D%2CC?F%07%DB6I
/@%
<6=?0=6<86% 47% DB6% C?20<D077% 01% 84<8:;;6<D% A0DB% DB6%
<6=?0=6<86%47%DB6%5676<52<DW
N@%
C2;DF%8B2;=65%01%;69:0;65%D4%28D%0<1D2<D2<64:1?FW
/]a
%
S;DJ%//aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
Q@%
0<R:;F%82<<4D%E6%2K40565%561C0D6%DB6%2CC?082D04<%2D%
2??%D0361%47%2??%DB6%362<1%D4%2K405%DB6%0<R:;F%>27D6;%
DB6%C6;0?%01G%4;%1B4:?5%B2K6%E66<G%50184K6;65@G%2D%?621D%
0<%2??%0<1D2<861%AB6;6%DB6%C;6K04:1%<6=?0=6<86%47%DB6%
C2;DF%8B2;=65%82<<4D%E6%1205%D4%B2K6%84<D;0E:D65%D4%
DB6%0<R:;F%2D%2??J
>E@% "7% DB6% C?20<D077L1% <6=?0=6<86% A21% 4<?F%4H9QC]L^QHC[2!
DB6% 0336502D6% 2<5% C;4M032D6% 82:16% 47% DB6% 0<R:;F% E60<=%
DB6%5676<52<DL1%?28_%47%5:6%82;6G%DB6%C?20<D077%32F%;684K6;%
5232=61G%Oc*%DB6%84:;D1%1B2??%30D0=2D6%DB6%5232=61%D4%
E6%2A2;565J%,-#).!I/GD2!4'5'6!4*7$8.
(
(
M4\'0(O,(!#&42#$%(Q6&;(429(J4%$!(%(@1,
X(J8$&,(LST
(
!
P-4QRS! b2_61G% 2% -6=;4G% A21% 2D% X*#M% D;2<1C4;D0<=%
0;4<% ;20?1% 7;43% 2% E2;=6% 0<% DB6% B2;E4;% D4% DB6% F2;5% 47% DB6%
SD?2<D08%f:?7%2<5%,280!%8%!43C2<FJ%SD%2%86;D20<%1C4DG%DB6%
;20?;425% D;28_% E;4_6G% :C16D% DB6% 82;DG% 2<5% B0D% b2_61J% +01%
?6=% A21% 27D6;A2;51% 23C:D2D65J% "D% A21% C;4K65% DB2D% DB6%
82:16%47%DB6%288056<D%A21%2%56768D%0<%DB6%D;28_G%2%56C;61H
104<%DB6;60<J%,;6K04:1?F%DB6%56C;61104<%B25%E66<%<4D0865G%
E:D%DB6%;6C20;%:C4<%0D%A21%54<6%+$e6'e$+)6KJ%*B6;6%01%<4%
9:61D04<%DB6;674;6%47%DB6%!43C2<FL1%<6=?0=6<86J%O:D%DB6%
!43C2<F% 84:<D6;65% EF% 12F0<=% DB2D% b2_61% B0316?7% A21%
<6=?0=6<D%0<%DA4%;61C68D1I
/@%
S?DB4:=B%B6%<4D0865%DB6%56C;61104<G%B6%1D0??%84<D0<:65%
A0DB%B01%A4;_W
N@%
"<1D625%47%A2?_0<=%0<%7;4<D%4;%E6B0<5%DB6%82;G%b2_61%
A2?_65%2D%DB6%1056J
%
%
*B6%!4:;D%501301165%DB6%!%;1D%=;4:<5%EF%12F0<=%DB2D%
b2_61%505%+*)!_<4A%DB2D%DB6%D;28_%B21%E66<%;6C20;65%<6=?0H
=6<D?FJ%*B6%1684<5%=;4:<5G%B4A6K6;G%A21%2530DD65%D4%1B4A%
b2_61L%<6=?0=6<86J!
!
!
]%%V$S!"1%DB01%<6=?0=6<86%47%b2_61%1:7!%806<D%D4%E2;%B03%
7;43%2%;684K6;F%47%5232=61d
%
!
TN?=S!-4G%DB01%<6=?0=6<86%47%b2_61%505%<4D%E2;%B03%
7;43%;684K6;0<=%5232=61J%b2_61%505%<4D%84<D;0E:D6%D4%DB6%
/]Y
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aN
<&&'7$+)i%B6%4<?F%84<D;0E:D65%D4%DB6%'+UV#K%4;%7<O<e$%:C4<%
B0316?7J%*B6;674;6G%B6%82<%1D0??%;684K6;G%E:D%DB6%5232=61%
1B4:?5%E6%;65:865%4;%30D0=2D65%E682:16%47%B01%4A<%84<D;0E:H
D4;F%<6=?0=6<86J
GTH( [1<'(I1%#"$2'0
>2@% "7%2<%63C?4F6;%843C2<F%720?1%D4%A2;<%2<%0=<4;2<D%63C?4F66%
D4%E6%82;67:?%2E4:D%2<%:<7230?02;%328B0<6G%0D%1B4:?5%;6H
1C4<5%74;%5232=61%0<%8216%47%0<R:;FJ%,Q<O<K*!5.!B%$662!F;!
"W'6.!D;F8.
>E@% *B6%36;6%728D%DB2D%2%32<%A21%5;:<_%2D%DB6%D036%47%2<%2880H
56<D%5461%<4D%362<%B6%A21%<6=?0=6<DG%C;4K0565%B6%6M6;80165%
5:6%82;6J%,f#'eW)!5.!E<+'6<!N6$&)#'&!4*.2!I3!"W'6.!/II8.
>8@%
.D4;0<=%C4D2D461%0<%2%K6;F%D0=BD%2<5%:<K6<D0?2D65%6*#&W$#!
:<56;% 2% E:;<0<=% 1:<% 82:10<=% DB63% D4% ;4D% 01% =;411% <6=?0H
=6<86J%,T<%W'O!<+7!4*.!5.!C*&W<!<+7!4*.2!/3!"W'6.!F/;8.
>5@% SE2<54<0<=%2%D4A65%K6116?%0<%2%82?3%162%R:1D%E682:16%DB6%
D4A%?0<6%E;4_6G%2<5%A0DB%7:??%_<4A?65=6%DB2D%0D%30=BD%=6D%
?41DG%01%<6=?0=6<86J%,BVdO<+!5.!Z!b!L$W+!<+7!E$K$#2!b!4*.!
5.!"W'6.!E*)*#%!4*#(.2!;;!"W'6.!/ID8.
>6@% "7%2%1D;66D82;%C2116<=6;%01%B:;D%@$&<V%$!47%2<%288056<D%AB6;6%
DB6;6%A21%<4%+$e6'e$+&$!2D%2??G%DB6%1D;66D82;%843C2<F%&<++*)%
E6%?02E?6%74;%&V6(<!&*+)#<&)V<6%74;%DB6;6%A21%<4%<6=?0=6<86J%
,4<#6*%!B*&*!5.!E$#<6&*2!FG!H.B.!(.!IIG;8.!S%D0;6%E?4AH4:D%
5461%<4D%84<1D0D:D6%<6=?0=6<86%:<?611%DB6%D0;6%A21%2?;625F%
4?5%2<5%1B4:?5%<4D%B2K6%E66<%:165%2D%2??J%"<5665G%DB01%A4:?5%
E6%2%8?62;%8216%47%2%74;D:0D4:1%6K6<DJ%,C*7#'eV$d!5.!C$7!?'+$!
Q#<+%(*#)<)'*+!4*.2!_4.-.`!;/!H.B.!F0012!aV+$.!/D;;8.
>7@%
-6=?0=6<86%01%2%9:61D04<%56C6<50<=%:C4<%DB6%728D1%47%628B%
C2;D08:?2;%8216W%0<5665%0D%01%2%9:61D04<%47%728DJ%,QV&M$#!5.!
E'6<+2!_4.-.`!:D!H.B.!:FGD8.
G)*H( N$4=$&$#.(;1"(#8'(@6&/4(!56$&$424(1;(A#8'"0
>2@% *B6% 72DB6;% 2<5G% 0<% 8216% 47% B01% 562DB% 4;% 0<82C280DFG% DB6%
34DB6;G% 2;6% ;61C4<10E?6% 74;% DB6% 5232=61% 82:165% EF% DB6%
O'+*#!8B0?5;6<%AB4%?0K6%0<%DB60;%843C2<FG%:<?611%DB6%C2;H
6<D%82<%C;4K6%DB2D%B6%4;%1B6%4E16;K65%2??%DB6%50?0=6<86%47%
/]Z
%
S;DJ%//aQ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2%=445%72DB6;%47%2%7230?F%D4%C;6K6<D%5232=6J%,-#).!I/302!
4'5'6!4*7$8.
>E@% f:2;502<1%2;6%?02E?6%74;%5232=61%82:165%EF%DB6%O'+*#%!4;%
'+&<(<&')<)$7!C6;14<1%AB4%2;6%:<56;%)W$'#!<V)W*#')K%2<5%
?0K6%0<%DB60;%843C2<FG%:<?611%1205%=:2;502<1%4E16;K65%2??%
DB6%50?0=6<86%47%2%=445%72DB6;%47%2%7230?F%D4%C;6K6<D%523H
2=6J%,-#).!I/302!4'5'6!4*7$8.
>8@%
(3C?4F6;1%1B2??%E6%?02E?6%74;%DB6%5232=61%82:165%EF%DB60;%
63C?4F661%2<5%B4:16B4?5%B6?C6;1%28D0<=%A0DB0<%DB6%184C6%47%
DB60;%2110=<65%D21_G%$5$+!)W*VeW!DB6%74;36;%2;6%+*)!$+e<e$7!
0<% 2<F% E:10<611% 4;% 0<5:1D;FG% :<?611% 1205% 63C?4F6;1% 82<%
C;4K6%DB2D%DB6F%4E16;K65%2??%DB6%50?0=6<86%47%2%=445%72DB6;%
47%2%7230?F%D4%C;6K6<D%5232=6J%,-#).!I/302!4'5'6!4*7$8.
>5@% PB46K6;%(<K%%74;%DB6%5232=6%82:165%EF%B01%56C6<56<D1%4;%
63C?4F661%O<K!#$&*5$#%7;43%DB6%?2DD6;%AB2D%B6%B25%C205%
4;%56?0K6;65%0<%12D01728D04<%47%DB6%8?203J%,-#).!I/3/2!4'5'6!
4*7$8.
>6@% ,;4K0<861G% 80D061G% 2<5% 3:<080C2?0D061% 1B2??% E6% ?02E?6% 74;%
5232=61%74;%DB6%7$<)W!47%4;%'+UV#'$%%1:776;65%EF%2<F%C6;H
14<%EF%;6214<%47%DB6%7$>$&)'5$!E:0?50<=1G%2<5%4DB6;%C:E?08%
A4;_1%:<56;%DB60;%84<D;4?%4;%1:C6;K0104<J%,-#).!I/3D2!4'5'6!
4*7$8.
(
(
(
Q1&9$2(O,(N$/\$29(
GP&4H(UT([1,(K293(SLT
KX(!NM(K9(R)+(G)TSLH
(
%
S<%0<<_66C6;%01%:<56;%2%5:DF%D4%6M6;8016%4;50<2;F%82;6%D4%
_66C%B2??A2F1%;6214<2E?F%A6??H?0=BD65%2<5%7;66%7;43%4E1D;:8D04<1%
2<5%A0??G%DB6;674;6G%E6%?02E?6%0<%8216%2%=:61D%01%0<R:;65%AB6<%DB6%
B2??A2F%D4%B01%;443%01%+*)!6'eW)$72!2<5%B6%D;0C1%4K6;%2%O<))#$%%!
82;6?611?F%C?2865%0<%DB6%52;_%B2??J
(
!"#,())XL,(E8'(;46&#(1"(2':&$:'2%'(1;(#8'(1=&$:1"(%120$0#0(
$2(#8'(1<$00$12(1;(#84#(9$&$:'2%'(78$%8($0("'56$"'9(=.(#8'(24?
#6"'(1;(#8'(1=&$:4#$12(429(%1""'0/1290(7$#8(#8'(%$"%6<0#42%'0(
1;(#8'(/'"0123(1;(#8'(#$<'(429(1;(#8'(/&4%',(`8'2(2':&$:'2%'(
08170( =49( ;4$#83( #8'( /"1O$0$120( 1;( !"#$%&'0( ))X)( 429( KK*)3(
/4"4:"4/8(K3(084&&(4//&.,
/UT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aQ
(
>;(#8'(&47(1"(%12#"4%#(91'0(21#(0#4#'(#8'(9$&$:'2%'(78$%8(
$0(#1(='(1=0'"O'9($2(#8'(/'";1"<42%'3(#84#(78$%8($0('b/'%#'9(
1;(4(:119(;4#8'"(1;(4(;4<$&.(084&&(='("'56$"'9,(
@ABBCDEF
G)H( I':"''0(1;(@6&/4(d29'"(M1<42(N47
%
%
S;DJ%//aQ%&W<+e$%!DB6%56=;661%47%&V6(<!_<4A<%:<56;%b432<%
$2AG%AB08B%A6;6%21%74??4A1I
>2@% &V6(<!6<)<!g!=;2K6%<6=?0=6<86
>E@% &V6(<!6$5'%!g!4;50<2;F%<6=?0=6<86
>8@%
&V6(<!6$5'%%'O<%h%1?0=BD%<6=?0=6<86
!
_9HQNS!^+7$#!C*O<+!?<X%h
%
/@%
"7%%6'eW)!7'6'e$+&$!01%;69:0;65G%0D%01%4<?F%e#<5$!+$e6'A
e$+&$!DB2D%A0??%32_6%DB6%56ED4;%?02E?6J
N@%
"7%*#7'+<#K!7'6'e$+&$%01%;69:0;65G%0D%01%*#7'+<#K!+$e6'A
e$+&$%DB2D%A0??%32_6%DB6%56ED4;%?02E?6J
Q@%
"7%e#$<)!7'6'e$+&$!01%;69:0;65G%6K6<%%6'eW)!+$e6'e$+&$!
A0??%32_6%DB6%56ED4;%?02E?6Jk
!
>9HQNS!*B6%8?2110!%82D04<%2E4K6%B21%<4D%E66<%74??4A65%
0<%DB6%!0K0?%!456%E682:16%D452F%DB6;6%2;6%K6;F%32<F%_0<51%
4;%56=;661%47%50?0=6<86%;69:0;65J@
GKH( l$290(1;(I$&$:'2%'(d29'"(#8'(@$O$&(@19'
%
%
c<56;% DB6% !456G% DB6% 74??4A0<=% _0<51% 47% 50?0=6<86% 2;6% ;6H
9:0;65I
>2@% DB2D%2=;665%:C4<%EF%DB6%C2;D061
>E@% 0<%DB6%2E16<86%47%>2@G%DB2D%;69:0;65%EF%DB6%?2A%>C2;D08:?2;%
C;4K0104<@
%
!
_9HQNS! *B6% ;61C4<10E0?0DF% 47% 2% 84334<% 82;;06;% 01%
(g*bS&b'"-Sbe%2<5%?21D1%7;43%DB6%D036%DB6%=4451%2;6%
C?2865%0<%0D1%C41161104<%:<D0?%DB6F%2;6%56?0K6;65%28D:2??F%
4;% 84<1D;:8D0K6?FG% D4% DB6% 84<10=<66% 4;% D4% DB6% C6;14<% AB4%
B21%2%;0=BD%D4%;6860K6%DB63J%,-#).!/GF12!4'5'6!4*7$8.%"D%82<%
/U/
%
S;DJ%//aQ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
4<?F%E6%6M63CD%DB6;67;43%74;%82:161%6<:36;2D65%0<%S;DJ%
/aQ\J%,-O$#'&<+!"#$%.!?'+$%!5.!C'&W<#7!-.!o6$(($#2!$)!<6.2!
?A/;1G/2!9*5.!ID2!/D108.`
>8@%
0<%DB6%2E16<86%47%>E@G%DB2D%6MC68D65%47%2%=445%72DB6;%47%2%
7230?F%,@*+VO!(<)$#!><O'6'<8
!
!
_9HQNS!"<%2%84<D;28D%A0DB%2%&*OO*+!&<##'$#%74;%(<%A
%$+e$#%%>?0_6%2%D2M0%4;%2%R0D<6F@%DB6%?2A%C;4K0561%DB2D%DB6%
82;;06;%01%E4:<5%D4%82;;F%DB6%C2116<=6;1%1276?F%21%72;%21%
B:32<%82;6%2<5%74;610=BD%82<%C;4K056G%:10<=%DB6%:D341D%
50?0=6<86%47%5$#K!&<V)'*V%!C6;14<1G%A0DB%2%5:6%;6=2;5%74;%
2??%DB6%80;8:31D2<861J%,-#).!/G;;2!4'5'6!4*7$8.%*B01%01%14%
6K6<%07%DB6%C2116<=6;%01%82;;065%7;66%4;%2D%2%;65:865%;2D6J%
,-#).!/G;32!'7.8.%cC4<%DB6%4DB6;%B2<5G%DB6%C2116<=6;%1B4:?5%
4E16;K6%DB6%50?0=6<86%47%2%=445%72DB6;%47%2%7230?F%D4%2K405%
0<R:;F%D4%B0316?7J%,-#).!/G1/2!'7.8.!O:D%DB6%84<D;0E:D4;F%<6=H
?0=6<86%47%DB6%C2116<=6;%7*$%!+*)!@<#!#$&*5$#K!47%5232=61%
74;%B01%562DB%4;%0<R:;061G%07%DB6%C;4M032D6%82:16%DB6;647%01%
DB6%<6=?0=6<86%47%DB6%84334<%82;;06;G%E:D%DB6%234:<D%47%
5232=61%1B2??%E6%$YV')<@6K!#$7V&$7.!,-#).!/G1I2!'7.8.`
!
!
_9HQNS%*B6%,:E?08%.6;K086%!43301104<%O<K2!4<%0D1%
4A<%34D04<%4;%4<%C6D0D04<%47%2<F%0<D6;61D65%C2;DFG%27D6;%5:6%
B62;0<=G%82<86?%DB6%86;D0!%82D6%47%C:E?08%84<K6<06<86%=;2<D65%
D4%2<F%84334<%82;;06;%DB2D%#$($<)$76K!><'6%%D4%843C?F%A0DB%
B01% 4;% 0D1% 5:DF% D4% 4E16;K6% 6MD;24;50<2;F% 50?0=6<86J% ,-#).!
/G1;2!'7.8.`
(
(
Q&'22(O,(a4.2'0
)TK(e4,(SXU(G)TSLH
%
%
"7%2<%<))*#+$K!?4161%DB;:%DB67D%EF%2%8;030<2?%DB6%C;4C6;DF%
47%B01%8?06<D%AB08B%B25%E66<%56?0K6;65%D4%B03G%DB6%2DD4;<6F%01%
C;61:365%D4%B2K6%E66<%<6=?0=6<D%0<%D2_0<=%82;6%47%1205%C;4C6;DF%
2<5%A4:?5%4;50<2;0?F%E6%?02E?6J
(
(
I".="16:8(O,(e''%8
KLR([`(K93(TT+(G)TSLH
(
!
]RR^NS!"7%2<%2:D434E0?6%A0DB%2%7:;%842D%0<1056%01%?67D%0<1056%
2% C2;_0<=% ?4DG% E:D% DB6% 2DD6<D04<% 47% DB6% C2;_0<=% ?4D% 2DD6<52<D%
01%+*)!&<66$7%D4%DB6%C;616<86%47%DB6%>V#!&*<)G%1B4:?5%DB6%4A<6;%
/UN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aQ
47%DB6%C2;_0<=%?4D%E6%?02E?6%0<%8216%DB6%7:;%842D%01%1D4?6<%EF%2<%
4:D1056;d
%
!
TN?=S!-4G%74;%AB0?6%DB6;6%A21%2%56C410D%>E20?36<D@%47%DB6%
82;G%DB6;6%A21!+*!7$(*%')%47%DB6%>V#!&*<).
(
(
(
I4O41(Q6&;(N6<='"(@1"/,(O,(
D,(-4'20(9'&(M104"$13('#(4&,
N?)STXR3(I'%,(KT3()T+*
(
%
"7%2%D;:8_%5;0K6;G%0<%K04?2D04<%47%843C2<F%;6=:?2D04<1G%2?H
?4A1%B01%A076%2<5%8B0?5;6<%D4%;056%A0DB%B03%4<%DB6%D;:8_G%DB01%01%
-&*%EF%0D16?7%<6=?0=6<86J%&<%DB6%84<D;2;FG%DB60;%C;616<86%A4:?5%
32_6%DB6%5;0K6;%$J)#$O$6K!&<#$>V6.
(
(
P4"(C40#(-42\(429(E"60#(@1,(O,(C0#"'&&4(A,(]6'"$<$#
QM()URSRK3(^42,()+3(K**K
%
!
P-4QRS!b61C4<56<D1%!%?65%2%843C?20<D%2=20<1D%C6D0D04<6;H
E2<_%2<5%86;D20<%47!%802?1%47%DB6%?2DD6;G%2??6=0<=%DB2D%DB2D%DB6F%
;67:165%D4%2??4A%B6;%D4%A0DB5;2A%B6;%D036%56C410D%6K056<865%EF%
74:;%86;D0!%82D61%47%56C410D%0<%DB6%D4D2?%234:<D%47%qUTGTTTJ%*B6%
D;02?%84:;D%4;56;65%C6D0D04<6;HE2<_%2<5%0D1%47!%802?1%D4%2??4A%;6H
1C4<56<D%D4%A0DB5;2A%B6;%D036%56C410D%C?:1%288;:65%0<D6;61D1J%
*B6%!4:;D%47%SCC62?1%>!S@%27!%;365%DB6%5680104<%47%DB6%D;02?%84:;D%
A0DB% DB6% 3450!%82D04<% DB2D% C6D0D04<6;HE2<_% A21% 14?6?F% ?02E?6%
E682:16%DB6%?2DD6;%B25%2%C6;14<2?0DF%16C2;2D6%7;43%0D1%47!%86;1%
2<5%1D48_B4?56;1J%&<%2CC62?G%DB6%.:C;636%!4:;D%27!%;365%DB6%
!SJ
%
!
TN?=S!,6D0D04<6;HE2<_%720?65%D4%C;4K6%DB2D%0D%B25%2?;625F%
3256%C2F36<D%84<1056;0<=%DB2D%DB6%1:ER68D%86;D0!%82D61%47%56H
C410D%A6;6%1D0??%0<%DB6%C41161104<%47%DB6%56C410D4;1J%*B6%C;0<80C?6%
DB2D%C2F36<DG%0<%4;56;%D4%5018B2;=6%2%56EDG%3:1D%E6%3256%D4%
14364<6%2:DB4;0[65%D4%;6860K6%0D%01%2CC?082E?6%D4%DB6%C2F36<D%
47%86;D0!%82D61%47%56C410DJ%,6D0D04<6;%1B4:?5G%DB:1G%<4D%B2K6%C205%
;61C4<56<DL1%B:1E2<5%4;%2<F%DB0;5%C2;DF%DB6%234:<D%47%DB6%D036%
56C410D% A0DB4:D% ;69:0;0<=% DB6% 1:;;6<56;% 47% DB6% 86;D0!%82D61% 47%
56C410DJ%$28B61%A4:?5%2?14%<4D%56762D%;61C4<56<DL1%8?203%21%1B6%
505%<4D%A0DB5;2A%B6;%56C410D%E682:16%1B6%;6?065%4<%C6D0D04<6;%
E2<_L1%211:;2<86%DB2D%0<D6;61D%A4:?5%288:3:?2D6%2<<:2??F%6K6<H
/UQ
%
S;DJ%//a\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
27D6;%32D:;0DF%47%DB6%D036%56C410D%2<5%1B6%16D%21056%DB6%34<6F%
DB6;60<%74;%B6;%;6D0;636<DJ
(
!"#,())XU,(Cb%'/#($2(%40'0('b/"'00&.(0/'%$!('9(=.(#8'(&473(
1"(78'2($#($0(1#8'"7$0'(9'%&4"'9(=.(0#$/6&4#$12(1"(78'2(#8'(
24#6"'(1;(#8'(1=&$:4#$12("'56$"'0(#8'(4006</#$12(1;("$0\3(21(
/'"012(084&&(='("'0/120$=&'(;1"(#810'('O'2#0(78$%8(%16&9(21#(
='(;1"'0''23(1"(78$%8(#816:8(;1"'0''23(7'"'($2'O$#4=&',
@ABBCDEF
G)H( Q'2'"4&(M6&'(;1"(P1"#6$#160(CO'2#0
%
%
-4%?02E0?0DF%74;%2%>*#)V')*V%!$5$+)!,&<%*!>*#)V')*8%>DB2D%AB08B%
84:?5%<4D%E6%74;6166<G%4;%AB08B%6K6<%07%74;6166<G%A21%0<6K0D2H
E?6@J
GKH% Cb%'/#$120(h%*B6%56ED4;%01%;61C4<10E?6%74;%2%74;D:0D4:1%6K6<D%
0<%DB6%74??4A0<=%82161I
>2@% fW$+!$J(#$%%6K!7$&6<#$7!@K!)W$!6<X!j1:8B%21%AB6<%DB6%C41H
16114;%01%0<%OS'%720DB%,-#).!;;I2!4'5'6!4*7$8!4;%01%0<%7$><V6).!
,-#).!//1;2!4'5'6!4*7$8Jk
>E@% fW$+!$J(#$%%6K!7$&6<#$7!@K!%)'(V6<)'*+!*#!&*+)#<&)%j1:8B%
21%AB6<%DB6%84<D;28D%12F1I
%
V"7%DB6;6%E6%2%74;D:0D4:1%6K6<D%DB2D%A4:?5%82:16%56?2F%0<%
DB6% 56?0K6;F% 47% C25?48_1G% <+! $J)$+%'*+! OV%)! @$! %*VeW)2!
4DB6;A016G% 5232=61% 82<% E6% 21_65JX% ,R$$! C$(V@6'&! *>! )W$!
"W'6'(('+$%!5.!?'))*+!b!4*.2!BC!?A;0/32!9*5.!I32!/D;F8Jk
>8@%
fW$+!)W$!+<)V#$!*>!)W$!*@6'e<)'*+!#$YV'#$%!)W$!<%%VO()'*+!
*>!#'%M%>DB6%548D;0<6%47%!b(S*('%b".i@%jNJ<O(6$S%PB6<%
2%82;;06;%D;2<1C4;D1%5F<230D6G%2<5%E682:16%47%2<%288056<D2?%
D0;6%E?4AH4:D%0D%0<R:;61%<62;EF%C;4C6;DFG%DB6%82;;06;%A4:?5%
E6%;61C4<10E?6J%*B01%01%E682:16%47%DB6%<2D:;6%47%82;;F0<=%
5F<230D6J%cC4<%DB6%4DB6;%B2<5G%0<R:;061%82:165%EF%2%D0;6%
@6*XA*V)!47%2%C6;768D?F%<6A%D0;6G%4;%2D%?621D%2%1D0??%=445%4<6G%
AB6<% +*! $J(6*%'5$%! 4;% 7<+e$#*V%! DB0<=1% A6;6% E60<=% 82;H
;065G%2;6%5:6%D4%2<%:<2K4052E?6%288056<DG%2<5%DB6%4A<6;%
47%DB6%82;%A4:?5%<4D%E6%?02E?6J%,R$$!C*7#'eV$d!5.!C$7!?'+$!
Q#<+%(*#)<)'*+!4*.2!_4.-.`!;/!H.B.!F0012!aV+.!/D;;8Jk
/U\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//a\
GLH( C56$O4&'2#(E'"<0(;1"(P1"#6$#160(CO'2#
>2@% &<%*!>*#)V')*!>?0D6;2?%D;2<1?2D04<@
>E@% 28D%47%f45%>?0_6%?0=BD<0<=@
(
(
^642(P,(D4\/$&(429([1203('#(4&,(O,(@!3('#(4&,
QM(UXRS)3(A%#,(L3()TR+
%
%
*4%6M63CD%DB6%4E?0=4;%7;43%?02E0?0DF%74;%2%E;628B%47%
2<%4E?0=2D04<%5:6%D4%2<%V28D%47%f45GX%DB6%74??4A0<=%3:1D%
84<8:;I%>2@%DB6%82:16%47%DB6%E;628B%47%DB6%4E?0=2D04<%3:1D%
E6%0<56C6<56<D%47%DB6%A0??%47%DB6%56ED4;W%>E@%DB6%6K6<D%3:1D%
E6%60DB6;%:<74;61662E?6%4;%:<2K4052E?6W%>8@%DB6%6K6<D%3:1D%
E6%1:8B%21%D4%;6<56;%0D%03C4110E?6%74;%DB6%56ED4;%D4%7:?!%??%B01%
4E?0=2D04<%0<%2%<4;32?%32<<6;W%2<5%>5@%DB6%56ED4;%3:1D%E6%
7;66%7;43%2<F%C2;D080C2D04<%0<G%4;%2==;2K2D04<%47G%DB6%0<R:;F%
D4%DB6%8;650D4;J
%
%
S<% 28D% 47% f45% 01% 2<% 288056<DG% 5:6% 50;68D?F% 2<5% 6MH
8?:10K6?F%D4%<2D:;2?%82:161%A0DB4:D%B:32<%0<D6;K6<D04<G%
AB08B%EF%<4%234:<D%47%74;610=BDG%C20<1%4;%82;6G%;6214<2E?F%
D4%B2K6%E66<%6MC68D65G%84:?5%B2K6%E66<%C;6K6<D65J
>8@%
>*#&$!O<U$V#$%>?0_6%A2;%4;%2;365%;4EE6;F@%E:D%07%DB6%A2;%
B25% 2?;625F% E;4_6<% 4:D% @$>*#$% DB6% 84<D;28D% A21% 6<D6;65%
0<D4G%DB6%A2;%82<<4D%E6%84<1056;65%:<74;6166<J%,R$#5$#!5.!
N'%$O@$#e!<+7!4*.2!?A/0G:/2!E<#.!ID2!/D;/8.
>5@% :<2K4052E?6%288056<D%>?0_6%2%D0;6%E?4AH4:D%C;4K0565%DB6;6%
A21%<4%<6=?0=6<86@
GUH( C00'2#$4&(@84"4%#'"$0#$%0(1;(4(P1"#6$#160(CO'2#
>2@% DB6% 82:16% 3:1D% E6% 0<56C6<56<D% 47% DB6% A0??% 47% DB6% 56ED4;%
>7;66543%7;43%,Sb*"!",S*"&-%4;%SffbS#S*"&-@W
%
NJ<O(6$S!$411%47%2%!%;62;3%AB08B%76??%D4%DB6%E4DD43%47%DB6%
162%AB6<%DB6%1B0C%12<_%5:;0<=%2%1D4;3J!,]+%V6<#!B*5\).!5.!
L'+eW<O2!/F!"W'6.!;;38.
>E@% 03C4110E0?0DF%47%74;61660<=%4;%03C4110E0?0DF%47%2K4050<=%0DG%
6K6<%07%74;6166<W
%
NJ<O(6$S%'232=6%D4%D;20<%C2116<=6;1%AB6<%DB6%D;20<%01%
B0D%EF%6'eW)+'+e.
/U]
%
S;DJ%//a\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
>8@%
DB6%488:;;6<86%3:1D%E6%1:8B%21%D4%;6<56;%0D%03C4110E?6%74;%
DB6%56ED4;%D4%7:?!%??%B01%4E?0=2D04<%0<%2%<4;32?%32<<6;J
%
NJ<O(6$%S%S;365%;4EE6;F%82:10<=%DB6%?411%47%2%1C680!%8%;2H
504G%E:D%<4D%07%34<6F%01%D2_6<%74;%34<6F%01%2%=6<6;08%DB0<=W%
160[:;6%EF%DB6%^2C2<616%30?0D2;F%74;861G%5:;0<=%DB6%A2;G%47%
84C;2%56C410D65%0<%2%A2;6B4:16J%,9*#)W!9$e#*%!RVe<#!4*.!
5.!4*.!B$+.!7$!Q<@<&*%2!?ADIGG2!E<#.!ID2!/D;G8.
GSH( [1<'(@40'0
(
(
N404<(O,([<$#8
US(J8$&,(+SX
(
!
P-4QRS!S%C2116<=6;%A21%B:;D%AB6<%DB6%82;%B6%A21%;050<=%
4<%!%=:;65%0<%2<%V288056<DX%82:165%60DB6;%EF%DB6%5;0K6;L1%#$&M6$%%A
+$%%!*#!&<#!7$>$&)%.
!
!
TN?=S% *B6% 4C6;2D4;% 01% ?02E?6% 10<86% DB01% 01% <4D% 2% 8216% 47%
74;D:0D4:1%6K6<DJ%>*B01%;:?0<=%A21%;60D6;2D65%0<%DB6%8216%47%a*%$!
R*+!5.!4$@V!-V)*@V%!4*.2!?A1/;;2!-(#.!F02!/D;:2!AB6;6%DB6%56768D%
A21%0<%DB6%5;2=H?0<_%1C;0<=J@
(
(
M'/6=&$%(1;(#8'(J8$&$//$2'0(O,(N$##12(429(@1,
TU(J8$&,(SK
(
!
P-4QRS!*B6%5676<52<D%C;430165%D4%56?0K6;%D4%DB6%C?20<D077%
>=4K6;<36<D@%4<%4;%E674;6%`2;J%/G%/Z\UG%ZUGTTT%C25?48_1%74;%6?68H
D04<%C:;C4161%E:D%A21%<4D%2E?6%D4%56?0K6;%DA4HDB0;51%E682:16%47%
86;D20<%:<74;6166<%6K6<D1%>1:8B%21%DB6%K6116?%E60<=%1D;2<565%2D%
2%86;D20<%01?2<5%4;%D;2<1C4;D2D04<%56D4:;@J%"<%DB6%84<D;28DG%DB6%
74??4A0<=%C;4K0104<%A21%3256I%V.B4:?5%DB6;6%E6%56?2F%0<%56?0K6;FG%
5:6%D4%2%84<50D04<%8?62;?F%E6F4<5%DB6%84<D;28D4;L1%84<D;4?G%DB6%
,:;8B210<=%S=6<D%32F%=;2<D%2%#$<%*+<@6$!)'O$!74;%6MD6<104<%07%
<((6'$7!>*#!@$>*#$!7$><V6)!'%!'+&V##$7.!'6?0K6;061%3256%A0DB0<%
DB6%6MD6<565%C6;045%1B2??%<4D%E6%1:ER68D%D4%C6<2?D061JX%S?DB4:=B%
DB6;6%2CC2;6<D?F%A6;6%:<2K4052E?6%82:161%C;6K6<D0<=%56?0K6;F%
4<%D036G%84<D;28D4;%720?65%D4%C;4C6;?F%21_%74;%DB6%<66565%6MD6<H
104<J!]%%V$S!"1%B6%?02E?6d
%
!
TN?=S%e61G%DB6%84<D;28D4;%01%?02E?6G%E682:16%C;4C6;?F%0<H
D6;C;6D65G%DB6%C;4K0104<%9:4D65%2E4K6%01%4<6%DB2D%8?62;?F%03C4161%
/UU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//a\
?02E0?0DF%6K6<%74;%74;D:0D4:1%6K6<D1J%.:8B%2%1D0C:?2D04<%01%8?62;?F%
2??4A65%EF%DB6%?2AJ
(
(
(
e$%#1"$40(J&42#'"0(!002,3('#(4&,(O,
e$%#1"$40(B$&&$2:(@1,3(>2%,
TX(J8$&,(L)R
(
!
P-4QRS!"<%2%84<D;28DG%0D%A21%2=;665%DB2D%74;%QT%F62;1G%DB6%
C?2<D6;1%A4:?5%56?0K6;%DB60;%1:=2;%D4%2%30??0<=%843C2<FJ%+4AH
6K6;G%5:;0<=%DB6%A2;%>\%F62;1@%2<5%5:;0<=%DB6%C6;045%47%;684<1D0H
D:D04<%>N%F62;1@G%DB6%30??0<=%843C2<F%84:?5%<4D%4C6;2D6%0D1%30??J%
]%%V$S%.B4:?5%DB6%C6;045%47%U%F62;1%E6%3256%:Cd%"<%4DB6;%A4;51G%
1B4:?5%DB6%C?2<D6;1%E6%;69:0;65%D4%56?0K6;%74;%U%34;6%F62;1%DB60;%
1:=2;%D4%DB6%1236%30??%D4%32_6%:C%74;%AB2D%B25%E66<%?41Dd
%
!
TN?=S! -4% 34;6G% E682:16% A2;% 01% 2% 74;D:0D4:1% 6K6<D% DB2D%
A4:?5%;6?06K6%DB6%C?2<D6;1%7;43%DB01%4E?0=2D04<%10<86%7:?!%??36<D%
DB6<%B25%E66<%;6<56;65%03C4110E?6J
(
(
@"42'([.(J46%1(O,(Q12V4:4
)*(J8$&,(+U+
%
!
P-4QRS%,6<50<=%DB6%5680104<%47%2%8216%2=20<1D%B03G%DB6%
82;2E241%47%?!A6;6%2DD28B65%EF%2%1B6;077J%?%=2K6%2%@*+7!74;%DB60;%
;6?6216G%DB6%84<50D04<%E60<=%DB2D%07%?!?4161%DB6%8216G%?!A4:?5%56H
?0K6;%DB6%2<032?1J%?%?41DG%E:D%A21%<4D%2E?6%D4%56?0K6;%DB6%82;2E241G%
E682:16%DB6F%B25%5065%5:6%D4%82:16%<4D%03C:D2E?6%D4%?J%]%%V$S!
S;6%DB6%E4<5136<%?02E?6d
%
!
TN?=S%-4G%DB6%E4<5136<%2;6%<4D%?02E?6%E682:16%DB6%562DB%
47%DB6%82;2E241%A21%74;D:0D4:1J%*B:1G%DB6%4E?0=2D04<%D4%56?0K6;%
DB6%82;2E241%A21%6MD0<=:01B65J
%
!
hV$%)'*+S%O:D%01%0D%<4D%D;:6%DB2D%DB6%E4<5136<%>AB4%B25%
6M68:D65%DB6%E4<5@%A6;6%C;68016?F%1:CC4165%D4%2<1A6;%0<%8216%
47%<4<H56?0K6;Fd
%
!
-9R.S% e61G% DB6F% A6;6% C;68016?F% 1:CC4165% D4% 2<1A6;% E:D%
4<?F%07%?!A6;6%D4%7$6'@$#<)$6K!X')WW*67!56?0K6;FJ%+6;6G%?2!A21%
6M8:165% 7;43% ;6D:;<0<=% ,)W$! (#'+&'(<6! 4E?0=2D04<@W% B6<86G% DB6%
=:2;2<DF%>DB6%%$&*+7!4E?0=2D04<@%01%2:D432D082??F%6MD0<=:01B65G%
10<86%DB6%84<D;28D%7'7!+*)!C;4K056%74;%?02E0?0DF%6K6<%0<%8216%47%
>*#&$!O<U$V#$J
/Ua
%
S;DJ%//a\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
(
(
-4$&'.(O,(N'(@"'0/$:2.
N47(M'/1"#03(U*(-()R*
%
!
P-4QRS%-!6<D6;1%0<D4%2%84<D;28D%A0DB%L%4E?0=2D0<=%B0316?7%
:<56;%2%E4<5%D4%84<1D;:8D%2%5A6??0<=%B4:16%:C4<%2%C2;D08:?2;%
D;28D% 47% ?2<5J% O:D% E674;6% 843C?6D04<% 47% DB6% 84<1D;:8D04<G% DB6%
=4K6;<36<D%6MC;4C;02D65%DB6%?2<5W%B6<86G%7:?!%??36<D%A21%<4D%
3256J%]%%V$S!"1%-%?02E?6d
%
!
TN?=S!-4G%74;%DB01%A21%:<74;6166<J%*4%568056%84<D;28DA016%
A4:?5%E6%<2:162D0<=%D4%DB6%K6;F%0562%47%R:1D086J
(
(
[$423('#(4&,(O,(N1/'V3('#(4&,
N?SLTR3(A%#,(K*3()TSU
(
(
"7%2%!%;6%74;D:0D4:1?F%E;62_1%4:D%2<5%1:;;4:<50<=%B4:161%
2;6%561D;4F65%E682:16%47%DB60;%<62;<611G%?28_%47%A2D6;G%2<5%2<%
:<74;D:<2D6%B0=B%E;66[6G%<4%4<6%82<%E6%B6?5%;61C4<10E?6J
(
(
J4%$!(%(e':'#4=&'(A$&(@1"/1"4#$12(O,([$2:012
N?XT)X3(!/",(KT3()TSS
(
!
P-4QRS% -% A21% 4E?0=65% D4% C6;74;3% 2% 86;D20<% 4E?0=2D04<%
0<%L\%!72K4;J%O:D%2%74;D:0D4:1%6K6<D%B2CC6<65J%$2D6;G%-%2<5%L!
2=;665%DB2D%E682:16%47%AB2D%B25%B2CC6<65G!-!A4:?5%E6%=0K6<%2%
<6A%C6;045J%O:D%AB6<%DB6%C6;045%2;;0K65G%-!A21%1D0??%<4D%2E?6%D4%
C6;74;3J%]%%V$S!!2<!-!(6$<7!74;D:0D4:1%6K6<D%21%2%5676<16d
%
!
TN?=S!-4%34;6G%E682:16%DB6%16DD?636<D%A21%3256%S)*(bG%
2<5%+*)!@$>*#$2!DB6%74;D:0D4:1%6K6<DG%03C?F0<=%<!X<'5$#!*>!<+K!
7$>$+%$!4<%DB01%=;4:<5%AB08B%B6%84:?5%B2K6%;20165%E674;6J
(
(
E42(@8$12:([$42(O,(>2%8460#$(W(@1,
KK(J8$&,()SK
%
%
"7%2%1B0C%4A<6;G%_<4A0<=%DB6%52<=6;4:1%2<5%A62_%84<50H
D04<%47%B01%K6116?G%<6K6;DB6?611%4;56;1%B01%82CD20<%D4%63E2;_%4<%2%
K4F2=6G%2<5%5:;0<=%1205%K4F2=6%2%)K(W**+!82:161%DB6%561D;:8D04<%
47%E4DB%DB6%1B0C%2<5%0D1%82;=4G%DB6%4A<6;%A0??%1D0??%E6%B6?5%?02E?6J%
+6%82<<4D%2E14?K6%B0316?7%EF%8;F0<=%V2<%28D%47%f45JX
/UY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//a\
(
(
[1"$421(O,(I'(N'123('#(4&,
G@,!,H(UR(A,Q,(KKUS3(^62,()TSK
(
%
"7%2%56ED4;%720?1%D4%C6;74;3%E682:16%47%"%4451%2<5%0<2569:2D6%
D;2<1C4;D2D04<G%B6%01%<4D%;61C4<10E?6J
(
(
d,[,(O,(B4<=4:
L+(J8$&,(LRU
(
%
"7%2%%)*6$+!82;2E24%5061%E682:16%47%2%74;D:0D4:1%6K6<DG%DB6%
DB067%01%1D0??%?02E?6%:<?611%DB6%8;650D4;H4A<6;%01%0<%O*#<!<&&'('A
$+7'J
(
(
D4\/$&(429([120(O,(@!
QM(UXRS)3(A%#,(L3()TR+
%
!
P-4QRS!*B6%E:0?50<=%84<D;28D4;%2<5%DB6%2;8B0D68D%3256%
1:E1D2<D02?% 56K02D04<1% 7;43% DB6% C?2<1% 2<5% 1C680!%82D04<1% 2<5%
720?65%D4%4E16;K6%DB6%;69:010D6%A4;_32<1B0C%0<%DB6%84<1D;:8D04<%
21%A6??%21%D4%6M6;8016%DB6%;69:010D6%56=;66%47%1:C6;K0104<W%AB0?6%
DB6%C?2<1%2<5%1C680!%82D04<1%C;6C2;65%EF%DB6%2;8B0D68D1%84<D20<65%
0<2569:28061%2<5%56768D1J%*B6%56768D1%0<%DB6%84<1D;:8D04<%2<5%
0<%DB6%C?2<1%2<5%1C680!%82D04<1%A6;6%DB6%C;4M032D6%82:161%DB2D%
;6<56;65%DB6%E:0?50<=%:<2E?6%D4%A0DB1D2<5%DB6%62;DB9:2_6J
%
!
TN?=S!*B6%84<D;28D4;%2<5%DB6%2;8B0D68D%82<<4D%8?203%6MH
63CD04<%7;43%?02E0?0DFJ%*B6%A2<D4<%<6=?0=6<86%47%E4DB%DB6%E:0?5H
0<=%84<D;28D4;%2<5%DB6%2;8B0D68D%0<%67768D0<=%DB6%C?2<1G%5610=<1G%
1C680!%82D04<1G%2<5%84<1D;:8D04<%47%DB6%E:0?50<=%01%1:8B%<6=?0=6<86%
21%D4%234:<D%D4%E25%720DB%0<%DB6%C6;74;32<86%47%DB60;%;61C68D0K6%
D21_1J%&<6%AB4%<6=?0=6<D?F%8;62D61%2%52<=6;4:1%84<50D04<%82<H
<4D%6182C6%?02E0?0DF%74;%DB6%<2D:;2?%2<5%C;4E2E?6%84<169:6<861%
DB6;647G%2?DB4:=B%DB6%28D%47%2%DB0;5%C6;14<G%4;%2<%28D%47%f45%74;%
AB08B%B6%01%<4D%;61C4<10E?6G%0<D6;K6<61%D4%C;680C0D2D6%DB6%?411J
(
(
Q4#%84&$42(O,(I'&$<
QM(S+URX3(A%#,(K)3()TT)
%
%
*4% 6M63CD% 2% 84334<% 82;;06;% 7;43% ?02E0?0DF% 74;% 562DB% 4;%
CBF1082?%0<R:;061%D4%C2116<=6;1%:C4<%DB6%=;4:<5%47%>*#&$!O<U$V#$G%
DB6%82;;06;%3:1D%8?62;?F%1B4A%<4D%4<?F%DB2D%DB6%67!%806<D%82:16%
47%DB6%821:2?DF%A21%6<D0;6?F%0<56C6<56<D%47%DB6%B:32<%A0??G%E:D%
/UZ
%
S;DJ%//a\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2?14%DB2D%0D%A21%03C4110E?6%D4%2K405J%S<F%C2;D080C2D04<%EF%DB6%
84334<%82;;06;%0<%DB6%488:;;6<86%47%DB6%0<R:;F%A0??%56762D%DB6%
5676<16%47%>*#&$!O<U$V#$.%PB6;6%74;D:0D4:1%6K6<D%4;%>*#&$!O<U$V#$%
01%DB6%0336502D6%2<5%C;4M032D6%82:16%47%DB6%?411G%DB6%4E?0=4;%
01% 6M63CD% 7;43% ?02E0?0DF% 74;% <4<HC6;74;32<86J% *B6% (<#)'7<%G%
DB6%2<D68656<D%47%S;D08?6%//a\%47%DB6%!0K0?%!456G%56!%<61%k&<%*!
>*#)V')*m%21%2<%6K6<D%DB2D%D2_61%C?286%EF%288056<D%2<5%84:?5%<4D%
B2K6%E66<%74;6166<J%(M23C?61%47%DB01%2;6%561D;:8D04<%47%B4:161G%
:<6MC68D65%!%;6G%1B0CA;68_G%K04?6<86%47%;4EE6;1J
%
%
"<%2%?6=2?%16<16%2<5%84<169:6<D?FG%2?14%0<%;6?2D04<%D4%84<H
D;28D1G%2%&<%*!>*#)V')*%C;616<D1%DB6%74??4A0<=%6116<D02?%8B2;28D6;H
01D081I%>/@%DB6%82:16%47%DB6%:<74;6166<%2<5%:<6MC68D65%488:;;6<86%
4;%DB6%720?:;6%47%DB6%56ED4;%D4%843C?F%A0DB%B01%4E?0=2D04<G%3:1D%
E6%0<56C6<56<D%47%DB6%B:32<%A0??W%>N@%0D%3:1D%E6%03C4110E?6%D4%
74;6166%DB6%6K6<D%AB08B%84<1D0D:D61%DB6%&<%*!>*#)V')*G%4;%07%0D%82<%
E6%74;6166<G%0D%3:1D%E6%03C4110E?6%D4%2K405W%>Q@%DB6%488:;;6<86%
3:1D%E6%1:8B%21%D4%;6<56;%0D%03C4110E?6%74;%DB6%56ED4;%D4%7:?!%??%
B01% 4E?0=2D04<% 0<% 2% <4;32?% 32<<6;W% 2<5% >\@% DB6% 4E?0=4;% 3:1D%
E6%7;66%7;43%2<F%C2;D080C2D04<%0<%DB6%2==;2K2D04<%47%DB6%0<R:;F%
;61:?D0<=%D4%DB6%8;650D4;J
M1='"#1(@,([$%4<3('#(4&,(O,(N6&6(e,(^1":'3('#(4&,
QM()ST+)X3(!6:,(R3(K**X
!
!
P-4QRS!c<56;%.68J%/a%47%!6<D;2?%O2<_%!0;8:?2;%Qa\G%b:?61%
2<5%b6=:?2D04<1%74;%,2A<1B4C1G%AB08B%D44_%67768D%4<%^:?J%/QG%
/ZaQG%2<5%AB08B%A21%011:65%C:;1:2<D%D4%,'%-4J%//\G%DB6%,2A<H
32_6;1%b6=:?2D04<%S8DG%0D%01%C;4K0565%DB2D%C2A<1%C?65=65%3:1D%
E6%0<1:;65J%+4A6K6;G%DB01%.68D04<%A21%1:E169:6<D?F%236<565%EF%
!O%!0;8:?2;%aU\G%AB08B%D44_%67768D%4<%&8DJ%/G%/ZYTJ%S884;50<=%D4%
.68J%/Q%DB6;647G%47!%86%E:0?50<=lC;630161%2<5%C2A<1%47%2%C2A<H
1B4C%3:1D%E6%0<1:;65%2=20<1D%B03%pp%2<5%AB6;6%DB6%;69:0;636<D%
DB2D% 0<1:;2<86% 2=20<1D% E:;=?2;F% A21% 56?6D65J% &EK04:1?FG% DB6%
!6<D;2?%O2<_%><4A%O2<=_4%.6<D;2?@%84<1056;65%0D%<4D%76210E?6%
D4%;69:0;6%011:2<86%47%C2A<65%2;D08?61%2=20<1D%E:;=?2;FJ%"<%DB6%
8216%2D%E2;G%2%;4EE6;F%0<%2%C2A<1B4C%B2CC6<65%0<%/ZYaJ%]%%V$S!
!4<1056;0<=%DB6%2E4K680D65%236<536<DG%01%DB6;6%2%1D2D:D6%5:?FH
03C4165%4<%C6D0D04<6;%D4%0<1:;6%DB6%C2A<65%R6A6?;F%0<%AB08B%
8216%0D%A21%6;;4;%74;%DB6%!4:;D%47%SCC62?1%>!S@%D4%84<1056;%0D%21%
2%728D4;%0<%84<8?:50<=%DB2D%C6D0D04<6;1%A6;6%<6=?0=6<DJ
/aT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
!
S;DJ%//a\
!
TN?=S%*B6;6%01%<4<6J%-6K6;DB6?611G%DB6%C;6C4<56;2<86%47%
6K056<86%1B4A1%DB2D%C6D0D04<6;1%720?65%D4%6M6;8016%DB6%50?0=6<86%
;69:0;65%47%DB63%:<56;%DB6%-6A%!0K0?%!456J%*B6%50?0=6<86%A0DB%
AB08B%DB6%?2A%;69:0;61%DB6%0<50K05:2?%2D%2??%D0361%D4%=4K6;<%B01%
84<5:8D%K2;061%A0DB%DB6%<2D:;6%47%DB6%10D:2D04<%0<%AB08B%B6%01%
C?2865%%2<5%b6860CD1%%$2AJ!,"'6'('+<%!L<+M!5.!H+e2!:F;!"W'6.!
GFI!_I00I`8.%):;DB6;G%DB6%C2;DF%0<K4_0<=%<4K2D04<%3:1D%C;4K6%
DB2D%DB6%<6A%84<D;28D%505%0<5665%D2_6%67768DJ%,='*+ed*+!5.!4-2!
FG3!"W'6.!/0D0!_/DDD`8.
G+H( N100($2(4([8$/7"'%\
(
%
S1%2%=6<6;2?%;:?6G%DB6%?411%47%DB6%1B0C%5:6%D4%2%74;D:0D4:1%
6K6<D%1B4:?5%E6%E4;<6%EF%0D1%4A<6;W%DB6%?411%47%DB6%82;=4G%EF%DB60;%
4A<6;1G%:<?611%DB6%82CD20<%?28_65%1_0??G%4;%DB6;6%A21%32?086%4;%
<6=?0=6<86J%,Q<+!4W'*+e!R'<+!5.!]+&W<V%)'!b!4*.2!%V(#<8.
GXH( N100(-'%460'(1;(42(!%#(1;(Q1O'"2<'2#
!
%
"<%R<@$6'+*!5.!CP4!,?A//GD02!R$().!F02!/D;382!0D%A21%B6?5%
DB2D% DB6% b)!% 2<5% DB6% ,-O% 84:?5% E6% 74;865% D4% 2886CD% QTHF62;%
D6;3%E28_C2F%86;D0!%82D61%0<%C2F36<D%47%34;D=2=6%4E?0=2D04<1%
561C0D6% DB6% 728D% DB2D% 2886CD2<86% DB6;647% A4:?5% 7;66[6% 2% ?2;=6%
C2;D%47%DB60;%2116D1%2<5%843C6?%DB63%D4%1:1D20<%?41161%2<5%;6H
5:8D04<%0<%F06?5J%*B6%2886CD2<86%3:1D%E6%2??4A65%E682:16%0D%01%
14%C;4K0565%:<56;%C$(.!-&)!3DGJ%*B01%?2A%01%2<%28D%47%14K6;60=<%
C4A6;%2<5G%DB6;674;6G%AB2D6K6;%?411%0<8:;;65%82<%E6%2DD;0E:D65%
D4%2%>*#&$!O<U$V#$G%2<5%86;D20<?F%DB6%.D2D6%82<<4D%843C?20<%47%2%
?411%82:165%EF%0D16?7J
GRH( @1<=$24#$12(1;(P1"#6$#160(CO'2#(429(D':&$:'2%'
(
%
.:CC416%DB6;6%01%2%843E0<2D04<%47%2%74;D:0D4:1%6K6<D%2<5%
<6=?0=6<86%4<%DB6%C2;D%47%DB6%56ED4;G%01%DB6%4E?0=2D04<%D4%56?0K6;%
2%1C680!%8%DB0<=%6MD0<=:01B65d
!
!
-9R.S!"D%56C6<51I
>2@% "7%DB6%>*#)V')*V%!$5$+)%A21%DB6%C;4M032D6%82:16G%DB6%4E?0=2H
D04<%01%6MD0<=:01B65J
>E@% "7%DB6%+$e6'e$+&$!A21%DB6%C;4M032D6%82:16G%DB6%4E?0=2D04<%01%
+*)%6MD0<=:01B65J%>"D%01%&*+5$#)$7!0<D4%2%34<6D2;F%4E?0=2D04<%
74;%5232=61J@
/a/
%
S;DJ%//a]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
(
!"#,( ))XS,( d06"$160( #"4204%#$120( 084&&( ='( :1O'"2'9( =.(
0/'%$4&(&470,
@ABBCDEF
G)H( Yd06".Z(I'!(2'9
%
%
"D% 01% 84<D;28D0<=% 74;% 4;% ;6860K0<=% %*O$)W'+e! '+! $J&$%%! 47%
DB6%234:<D%2??4A65%EF%?2A%74;%DB6%?42<%4;%:16%47%34<6FG%=4451G%
8B2DD6?1G%4;%8;650D1J%,Q*6$+)'+*!b!E<+'*!5.!B*+d<6$%!RK!4W'<O2!
;0!"W'6.!;;38.!"<%4DB6;%A4;51G%:1:;F%01%DB6%6M28D04<%47%6M86110K6%
0<D6;61DJ
GKH( l$290(1;(>2#'"'0#
(
%
*B6;6%2;6%DA4%_0<51%47%0<D6;61DI
>2@% "<D6;61D%=0K6<%74;%&*O($+%<)'*+%4;%V%$%47%DB6%34<6F%>2?14%
82??65%EF%1436%2:DB4;1%21%`&bS*&be%"-*(b(.*@J
%
!
NJ<O(6$S! "% E4;;4A65% ,/% 30??04<% 2D% Yo% 0<D6;61D% ($#!
<++VO%74;%Q%F62;1J%>*B01%01%DB6%_0<5%47%0<D6;61D%;6=:?2D65%
EF%DB6%^%V#K!?<XJ@
>E@% "<D6;61D%=0K6<%EF%X<K!*>!7<O<e$%%>2?14%;676;;65%D4%EF%1436%
2:DB4;1%21%!&`,(-.S*&be%"-*(b(.*G%'.$.2%0D%843C6<H
12D61%DB6%5232=6%82:165@J
%
!
NJ<O(6$S!"%E4;;4A65%,/%30??04<%A0DB%<4%'+)$#$%)%74;%Q%
F62;1J%"7%"%C2F%2D%DB6%6<5%47%DB;66%F62;1G%"%C2F%<4%0<D6;61DJ%"7%
"%0<8:;%7$><V6)!>54%<4D%C2F%6K6<%27D6;%5632<5@G%"%X'66!<4A%
E6%;61C4<10E?6%74;%0<D6;61D%>EF%A2F%47%5232=61@%2D%DB6%;2D6%
47%Uo%($#!<++VOG%D4%E6%84:<D65%7;43%5672:?DJ
GLH( M':4"9(1;(J'1/&'(;1"(d06".
%
%
c1:;F%B21%E66<%;6=2;565%A0DB%2EB4;;6<86%7;43%DB6%62;?061D%
D0361J%,Q*6$+)'+*!b!E<+'*!5.!B*+d<6$%!RK!4W'<O2!%V(#<8.!"D%A21%
C;4B0E0D65%EF%DB6%2<806<D%?2A1%47%DB6%!B0<616%2<5%+0<5:1G%DB6%
i4;62<1G%DB6%SDB6<02<1G%2<5%DB6%b432<1J%,^.R.!5.!4*+%)<+)'+*2!
FD!"W'6.!;;:8.!+&P(#(bG%D452F%DB6%c1:;F%$2A%B21%E66<%b(H
,(S$('%EF%!6<D;2?%O2<_%><4A%O2<=_4%.6<D;2?@%!0;8:?2;%ZT]G%
67768D0K6%^2<J%/G%/ZYQJ
/aN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//a]
GUH( I'!(2$#$12(1;([$</&'(N142(GB6#66<H
(
%
OF%DB6%84<D;28D%47%103C?6%?42<G%4<6%47%DB6%C2;D061%56?0K6;1%
D4%2<4DB6;%34<6F%4;%4DB6;%84<1:32E?6%DB0<=1%:C4<%DB6%84<50H
D04<%DB2D%DB6%1236%234:<D%47%DB6%1236%_0<5%2<5%9:2?0DF%1B2??%
E6%C205J%,-#).!/DFF2!4'5'6!4*7$8.
GSH( N47;6&(429(N':4&(M4#'0
%
%
c<56;%DB6%74;36;%c1:;F%$2AI
>2@% ?<X>V6!#<)$%!,<V)W*#'d$7!#<)$%8%h%DB416%2??4A65%21%O<J'A
OVO!:<56;%DB6%>*#O$#!c1:;F%$2AJ
/@%
/Iq!($#!<++VO%h%07%168:;65%0<%XW*6$!4;%0<%C2;D%EF%
2% O*#)e<e$! V(*+! #$<6! $%)<)$G% 07% DB6% )')6$! D4% DB6% ;62?%
61D2D6%01%5:?F%#$&*#7$7i%4;%EF%2<F%548:36<D%&*+5$K'+e!
%V&W%;62?%61D2D6%>2?14%;6=01D6;65%61D2D6@%4;%2<%0<D6;61D%
DB6;60<J%,R$&.!I2!^%V#K!?<X2!<%!<O$+7$7!@K!4*O.!-&)!
FDD8.
N@%
/:q!($#!<++VO%h%07%<4D%168:;65%21%C;4K0565%2E4K6%
,R$&.!F2!^%V#K!?<X2!<%!<O$+7$7!@K!4*O.!-&)!FDD8.
Q@%
)4;%C2A<1B4C1I
2@%
N% /lNo% 2% 34<DB% h% 07% 1:3% ?6<D% 01% ?611% DB2<%
,/TTJ
E@%
No%2%34<DB%h%,/TT%D4%,]TT
8@%
/\o%($#!<++VO%h%07%34;6%DB2<%,]TT
%
!
_9HQNS!"D%1B2??%E6%V+6<X>V6!74;%2%C2A<E;4H
_6;%4;%B01%2=6<D%D4%7'5'7$!DB6%C2A<%4776;65%EF%
2%C6;14<%0<D4%DA4%4;%34;6%7;28D04<1G%0<%4;56;%D4%
84??68D%=;62D6;%0<D6;61D%DB2<%DB2D%C6;30DD65J%):;H
DB6;34;6G%0D%1B2??%2?14%E6%:<?2A7:?%D4%;69:0;6%DB6%
C2A<6;%D4%C2F%2<%2550D04<2?%8B2;=6%21%0<1:;2<86%
C;630:3%74;%DB6%1276_66C0<=%2<5%84<16;K2D04<%
47%DB6%2;D08?6%C2A<65J%,R$&.!:2!^%V#K!?<X2!-&)!
I1;;!<%!<O$+7$7!@K!4*O.!-&)!FDD8.`
!
%
j9HQNS%*B6%;2D61%=0K6<%2E4K6%B2K6%2?;625F%
E66<%8B2<=65%>7;43%D036%D4%D036@%EF%DB6%`4<H
6D2;F%O42;5%2<5%EF%DB6%%O2<=_4%.6<D;2?@Jk
/aQ
%
S;DJ%//a]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
>E@% ?$e<6!C<)$!>DB2D%C;61:365%EF%DB6%?2A%D4%B2K6%E66<%2=;665%
:C4<%07%DB6%?42<%36<D04<1%0<D6;61D%E:D%<4%;2D6%A21%1D0C:H
?2D65@
%
%
*B01%:165%D4%E6%Uo%($#!<++VO%,-#).!II0D2!4'5'6!4*7$i!
%$$!R$&.!/2!-&)!I1;;8.%"D%01%<4A%/No%($#!<++VO%21%50;68D65%
EF%2%!6<D;2?%O2<_%>O2<=_4%.6<D;2?@%!0;8:?2;J
%
!
_9HQNS%-4%0<D6;61D%>EF%A2F%47%843C6<12D04<%74;%0D1%
:16@%A0??%E6%=0K6<%0<%8216%0D%01%<4D%6MC;611?F%1D0C:?2D65%0<%
A;0D0<=J%,-#).!/D;:2!4'5'6!4*7$8.`
G+H( ></1"#42#(I$0#$2%#$12(-'#7''2(['%6"'9(G['%,(KH(429(d2?
0'%6"'9(G['%,(LH(N1420(f(d29'"(#8'(A&9(d06".(N47
>2@% .68J%N%C6<2?0[61%DB6%)<M'+e!4;%#$&$'5'+e!47%6M86110K6%0<D6;61D%
><4D%DB6%36;6%2=;660<=@
>E@% .68J%Q%C6<2?0[61%+*)!*+6K!DB6%)<M'+e!4;!#$&$'5'+e2%E:D%<6%*%
DB6%7$O<+7'+e!4;%DB6%<e#$$'+e%D4%8B2;=6%2<%6M86110K6%;2D6J%
>&7%84:;16G%0<%E4DB%82161G%0D%01%4<?F%DB6%!b('"*&b%AB4%01%
=:0?DF@J%,R$$!"$*(6$!5.!L$#+<)$2!F1!H.B.!(.!IGI08.
GXH( >2%120$0#'2%.($2(#8'(@19'
(
%
"<%8216%47%84<"%08DG%AB08B%1B4:?5%C;6K20?G%DB6%!0K0?%!456%4;%
DB6%c1:;F%$2Ad
%
!
-9R.S!*B6%!0K0?%!456%2<1A6;65%DB01%'+&*+%'%)$+)6K.
>2@% "<% -#).! //G;G% 0D% 01% 6K056<D% DB2D% DB6% ^%V#K! ?<X% C;6K20?1%
h% Vc1:;04:1% D;2<128D04<1% 1B2??% E6% =4K6;<65% EF% 1C6802?%
?2A1JX
>E@% e6DG% 0<% -#).! /D1/G% DB6% ?2A% 12F1% DB6! 4'5'6! 4*7$! C;6K20?1%
h%Vc1:;04:1%84<D;28D1%1B2??%E6%=4K6;<65%EF%DB6%c1:;F%$2A%
2<5%4DB6;%1C6802?%?2A1%%*!><#!<%!)W$K!<#$!+*)!'+&*+%'%)$+)!
A0DB%DB01%!456JX
%
>9HQNS!(0DB6;%47%DB6%DA4%84<"%08D0<=%2;D08?61%OV%)!E6%;6H
C62?65J@
%
>9HQNS%"<%DB6%8216%47%4W$#'$!"<6'6$*!5.!L$<)#'d!4*%'*2!?A
G11G2!9*5.!I32!/D;;2%DB6%.:C;636%!4:;D%2CC?065%DB6%!0K0?%
!456%0<1D625%47%DB6%c1:;F%$2AJ%+4A6K6;G%DB6%5680104<%505%
+*)!5018:11%DB6%84<"%08DJ@
/a\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//a]
%
%
>9HQNS!"<%DB6%8216G%B4A6K6;G%47%-+e$6!a*%$!f<#$W*V%'+e!
4*.2!]+&.!5.!4W$67<!N+)$#(#'%$%!<+7!=<5'7!RKUV'&*2!?AI;G0:2!-(#.!
I:2!/D132!DB6%!4:;D%B6?5%DB2D%A0DB%;61C68D%D4%DB6%9:61D04<%h%VB4A%
3:8B%0<D6;61D%82<%E6%;684K6;65%EF%2%56ED4;%AB4%B21%C205%V%V#'A
*V%%0<D6;61DdLL%h%DB6%0<D6;61D%;684K6;2E?6%01%DB6%$+)'#$!'+)$#$%)!
<e#$$7!V(*+%74;%1:8B%6<D0;6%0<D6;61D%01%#&"'J%*B6%!4:;D%7:;DB6;%
B6?5%DB2D%A0DB%;61C68D%D4%1205%9:61D04<G%DB6;6%01%-&%!&-)$"!*%
E6DA66<%DB6%!0K0?%!456%2<5%DB6%c1:;F%$2AJ@
(
(
(
!2:'&(^10'(`4"'8160$2:(@1,3(>2%,(O,
@8'&94(C2#'"/"$0'0(429(I4O$9([._6$%1
N?KSX*U3(!/",(KU3()T+R
!
!
P-4QRS% S% C2;D<6;1B0C% >!B6?52% (<D6;C;0161% 2<5% '2K05%
.FR:084@%E4;;4A65%,NTGTTT%7;43%S<=6?%^416%P2;6B4:10<=%!4J%
2D%8?62;?F%:1:;04:1%;2D61%>7;43%No%D4%N%/lNo%,(b%`&-*+@J%
%
%
]RR^NRS
>2@% !2<%8;650D4;%;684K6;%DB6%,b"-!",S$%56EDd
>E@% "7% DB6% 6<D0;6% :1:;04:1% ;2D6% B21% E66<% C205% EF% DB6% 56ED4;G%
B4A%3:8B%47%0D%82<%E6%;684K6;65%EF%1205%56ED4;%7;43%DB6%
8;650D4;d
%
TN?=S%
>2@% e61G%DB6%8;650D4;%82<%;684K6;%DB6%,b"-!",S$%56EDJ%*B6%
84<D;28D%47%?42<%A0DB%:1:;04:1%0<D6;61D%01%5<6'7!<%!)*!)W$!
6*<+2%2<5%5*'7!*+6K!X')W!#$%($&)!)*!)W$!'+)$#$%)!g!74;%DB6%
?42<!'%!)W$!(#'+&'(<6!84<D;28D%AB0?6%DB6%0<D6;61D%01%36;6?F%
2<% <&&$%%*#K% 6?636<DJ% *B6% DA4% 2;6% 16C2;2E?6% 7;43% 628B%
4DB6;J%,R$$!?*($d!5.!N6!T*e<#!P'6'('+*2!:G!"W'6.!I:D8.%*B6%
;:?0<=%4<%DB01%C40<D%EF%DB6%!4:;D%47%SCC62?1%0<%DB6%8216%47%
R$@<%)'<+!5.!L<V)'%)<2!;3!H.B.!9*.!/;2!(.!F/:12!B4?50<=%DB2D%
6K6<%DB6%?42<%0D16?7%01%K405%01%Pb&-fJ
>E@% P0DB%;61C68D%D4%DB6%:1:;04:1%0<D6;61DG%DB6%$+)'#$!'+)$#$%)!
<e#$$7!V(*+!01%K405G%2<5%07%2?;625F%C205G%32F%E6%;684K6;65%
EF%DB6%56ED4;J%"D%01%X#*+e!D4%12F%DB2D%DB6%56ED4;%82<%;684K6;%
4<?F%DB6%$J&$%%%47%/No%4;%/\oG%21%DB6%8216%32F%E6%h%74;%DB6%
103C?6%;6214<%DB2D%DB6%$+)'#$!'+)$#$%)!%)'(V6<)'*+!'%!'+7'5'%A
'@6$2%2<5%E60<=%0??6=2?G%1B4:?5%E6%84<1056;65%6<D0;6?F%K405J%"D%
01%)#V$%DB2D%S;DJ%/\/Q%47%DB6%!0K0?%!456%1D2D61%DB2D%V0<D6;61D%
/a]
%
S;DJ%//a]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
C205% 0<% $J&$%%% 47% DB6% 0<D6;61D% 2??4A65% EF% DB6% c1:;F% $2A%
32F%E6%;684K6;65%EF%DB6%56ED4;%A0DB%0<D6;61D%DB6;64<%7;43%
DB6%52D6%47%C2F36<DJLL%O:DG%21%A6%84<1D;:6%0DG%S;DJ%/\/QG%0<%
1C62_0<=%47%V0<D6;61D%C205%0<%6M8611%47%DB6%0<D6;61D%2??4A65%
EF%DB6%:1:;F%?2A1X%362<1%DB6%XW*6$!V%V#'*V%!'+)$#$%)S%DB2D%
01G%0<%2%?42<%47%,/GTTTG%A0DB%0<D6;61D%47%NTo%($#!<++VO%4;%
,NTT%74;%4<6%F62;G%07%DB6%E4;;4A6;%C2F1%1205%,NTTG%DB6%XW*6$!
,NTT%01%DB6%V%V#'*V%!'+)$#$%)!+*)!R:1D%DB2D%C2;D%DB6;647%0<%
6M8611%47%DB6%0<D6;61D%2??4A65%EF%?2AJ%"D%01%0<%DB01%8216%DB2D%
DB6%?2A%5461%+*)!2??4A%50K0104<J%*B6%AB4?6%1D0C:?2D04<%21%D4%
0<D6;61D%01%K405%10<86%C2F36<D%47%1205%0<D6;61D%01%DB6%82:16%
4;%4ER68DG%2<5%1205%0<D6;61D%01%0??6=2?J%-4D6%DB2D%DB6;6%01%+*!
&*+"!'&)!4<%DB01%C40<D%E6DA66<%DB6%-6A%!0K0?%!456%2<5%DB6%
c1:;F%$2A%AB08B%1D2D61%0<%.68J%UG%DB2D%2<F%C6;14<%AB4%
74;%2%?42<%1B2??%B2K6%C205%2%B0=B6;%;2D6%4;%=;62D6;%1:3%4;%
K2?:6%DB2D%01%2??4A65%0<%1205%?2AG%32F%;684K6;%DB6%XW*6$!
'+)$#$%)!C205J%*B6%4<?F%8B2<=6%67768D65G%DB6;674;6G%EF%S;DJ%
/\/Q%47%DB6%-6A%!0K0?%!456%01%+*)!D4%C;4K056%74;%DB6%;684K6;F%
47%0<D6;61D%C205%0<%6M8611%47%DB2D%2??4A65%EF%?2AG%AB08B%DB6%
c1:;F%$2A%2?;625F%C;4K0565%74;G%E:D%D4%255%DB2D%DB6%1236%
82<%E6%;684K6;65%VA0DB%0<D6;61D%DB6;64<%7;43%DB6%52D6%47%
C2F36<DJX% *B6% 74;6=40<=% 0<D6;C;6D2D04<% 01% ;628B65% A0DB%
DB6% CB0?414CBF% 47% :1:;F% ?6=01?2D04<% 0<% 30<5I% D4% 50184:;H
2=6% 1D0C:?2D04<1% 4<% :1:;04:1% 0<D6;61DG% 1205% 1D0C:?2D04<1%
2;6%D;62D65%21%AB4??F%K405G%14%DB2D%DB6%?42<%E684361%4<6%
X')W*V)!1D0C:?2D04<1%21%D4%C2F36<D%47%0<D6;61DJ%"D%1B4:?5%
<4DG%B4A6K6;G%E6%0<D6;C;6D65%D4%362<%74;760D:;6%6K6<%47%DB6%
C;0<80C2?G%74;%DB01%A4:?5%:<R:1D?F%6<;08B%DB6%E4;;4A6;%2D%DB6%
6MC6<16%47%DB6%?6<56;J%):;DB6;34;6G%C6<2?%12<8D04<1%2;6%
2K20?2E?6%2=20<1D%2%:1:;04:1%?6<56;G%21%2%7:;DB6;%56D6;;6<D%
D4%:1:;FJ
%
%
*B6%C;0<80C2?%56ED%;6320<0<=%X')W*V)!%)'(V6<)'*+!74;%
C2F36<D%47%0<D6;61D%82<%DB:1%E6%;684K6;65%EF%R:50802?%28H
D04<J%S<5%0<%8216%47%1:8B%5632<5%2<5%DB6%56ED4;%0<8:;1%'+!
7$6<K2!DB6%56ED%62;<1%0<D6;61D%7;43%DB6%52D6%47%DB6%5632<5G%
AB6DB6;%R:50802?%4;%6MD;2R:50802?%>0<%DB6%0<1D2<D%8216G%7;43%
DB6%!%?0<=%47%DB6%843C?20<D@J%.:8B%0<D6;61D%01%+*)%5:6%D4%%)'(VA
6<)'*+G%74;%DB6;6%A21%<4<6G%DB6%1236%E60<=%K405J%b2DB6;G%
0D%01%5:6%D4%DB6%=6<6;2?%C;4K0104<%47%?2A%DB2D%0<%4E?0=2D04<%
D4%C2F%34<6FG%AB6;6%DB6%56ED4;%0<8:;1%0<%56?2FG%B6%B21%D4%
C2F%0<D6;61D%EF%A2F%47%5232=61.!,-#).!II0D2!4'5'6!4*7$8.
/aU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aU
N$4<(N47(O,(A&.</$%([47<$&&
N?L*XX)3(B4.(KR3()TRU
/J%
*B6%;69:0;636<D%0<%DB6%c1:;F%$2A%2<5%DB6%b:?61%47%
!4:;D%DB2D%2<%2??6=2D04<%47%:1:;FG%07%0D%01%56<065G%3:1D%
E6%56<065%V+7$#!*<)WG%2CC?061%4<?F%07%0D%01%DB6%(6<'+)'>>%
32_0<=%DB6%2??6=2D04<G%<4D%DB6%5676<52<DJ
NJ%
c<56;%!6<D;2?%O2<_%><4A%O2<=_4%.6<D;2?@%!0;8:?2;%
ZT]G%:1:;F%B25%E66<%2E4?01B65%0<%4:;%84:<D;F%10<86%
^2<J%/G%/ZYQJ%"<D6;61D%A0??%<4A%56C6<5%4<%DB6%3:D:2?%
2=;6636<D%47%E4;;4A6;%2<5%?6<56;J
QJ%
*B6%C;4K0104<1%4<%:1:;F%2??6=2D04<1%0<%DB6%b:?61%47%
!4:;DG%E60<=%36;6?F%C;4865:;2?G%B2K6%E66<%;6C62?65G%
2<5%DB01%;6C62?%B21%;6D;428D0K6%67768DJ
(
!"#,( ))X+,( E8'( "'%'$/#( 1;( #8'( /"$2%$/4&( =.( #8'( %"'9$#1"3(
7$#816#( "'0'"O4#$12( 7$#8( "'0/'%#( #1( #8'( $2#'"'0#3( 084&&( :$O'(
"$0'(#1(#8'(/"'06</#$12(#84#(04$9($2#'"'0#(840(=''2(/4$9,
(
E8'( "'%'$/#( 1;( 4( &4#'"( $20#4&&<'2#( 1;( 4( 9'=#( 7$#816#(
"'0'"O4#$12(40(#1(/"$1"($20#4&&<'2#3(084&&(&$\'7$0'("4$0'(#8'(
/"'06</#$12(#84#(06%8($20#4&&<'2#0(84O'(=''2(/4$9,(
@ABBCDEF
G)H( Cb4</&'(1;(J4",()(GM'%'$/#(1;(J"$2%$/4&(`$#816#(M'0'"O4?
#$12(40(#1(>2#'"'0#H
%
%
S% 8;650D4;% 47% ,/GTTTGTTTG% A0DB% Yo% 0<D6;61DG% ;6860K65%
,/GTTTGTTT% 0<% C2F36<D% 47% DB6% C;0<80C2?J% "<D6;61D% A21% +*)% ;6H
76;;65%D4%0<%DB6%C2F36<DJ%"D%01%C;61:365%DB2D%DB6%Yo%0<D6;61D%
B25%2?;625F%E66<%C;6K04:1?F%C205J%*B01%01%E682:16%:<56;%S;DJ%
/N]QG%!0K0?%!456G%C2F36<D%47%DB6%'+)$#$%)%<%!<!#V6$!(#$&$7$%!C2FH
36<D%47%DB6%C;0<80C2?J%>&7%84:;16G%S;DJ%//aU%61D2E?01B61%36;6?F%2%
#$@V))<@6$2!+*)!2%84<8?:10K6%C;61:3CD04<@J%,R$$!T'66!5.!j$6*%*2!F/!
"W'6.!/10!<+7!j7<.!7$!H+e%'<&*!5.!4<@<)V<+7*2!?A/0GF32!E<#&W!
/D2!/D;D8J%*B:1G%6K6<%07%DB6;6%01%2%;6860CD%6K056<80<=%C2F36<D%
47%DB6%C;0<80C2?G%DB6%288:3:?2D65%0<D6;61D%32F%0<%86;D20<%82161%
1D0??% E6% ;684K6;65J%,R$$! E<e7<6$+<! N%)<)$%2! ]+&.! 5.! C*7#'eV$d2!
?A/3://2!=$&.!/G2!/D118.
/aa
%
S;DJ%//aa
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GKH( Cb4</&'(1;(J4",(K(GM'%'$/#(1;(4(N4#'"(>20#4&&<'2#H
(
%
"7%2%8;650D4;%;6860K61%DB6%74:;DB%0<1D2??36<D%47%2%56EDG%0D%01%
:<56;1D445%DB2D%DB6%!%;1D%DB;66%0<1D2??36<D1%B2K6%E66<%C205J
%
%
>9HQNS%"7%"%C2F%3F%0<8436%D2M%DB01%F62;G%<4%C;61:3CD04<%
2;0161%2E4:D%3F%C2F36<D%47%DB6%D2M%?21D%F62;J%*2M61%C2F2E?6%EF%
DB6%F62;%82<<4D%E6%84<1056;65%0<1D2??36<D1J@
%
!
_9HQNS% *B6% C;61:3CD04<% 0<% C2;J% N% 01% 2?14% ;6E:DD2E?6J%
,E<+'6<! Q#<7'+e! b! RV((6K! 4*.! 5.! E$7'+<2! ?A/1:GG2! E<K! F/2!
/D1/8.`
!
%
>9HQNS!"<%E<+'6<!Q#<7'+e!<+7!RV((6K!4*.!5.!E$7'+<2!?A
/1:GG2!E<K!F/2!/D1/2%0D%A21%;:?65%DB2D%74;%DB6%C;61:3CD04<%0<%
C2;J%NG%S;DJ%//aU%D4%2CC?FG%0D%01%+*)%6<4:=B%DB2D%DB6%;6860CD%74;%DB6%
0<1D2??36<D%C205%E6%7<)$7i%0D%3:1D%2?14%1C6807F%DB2D%DB6%;6860CD%
01%74;%DB6%C2F36<D%47%2%(<#)'&V6<#!'+%)<66O$+)%5:6G%74;%6M23C?6G%
4<%2%&$#)<'+!O*+)WJ%*B:1G%07%DB6%52D6%47%DB6%;6860CD%01%^2<:2;FG%
/ZZZG%DB01%728D%2?4<6%EF%0D16?7%82<<4D%R:1D07F%DB6%0<76;6<86%DB2D%
DB6%^2<:2;F%0<1D2??36<D%B25%E66<%C205J%*B6%;6860CD%32F%B2K6%
E66<%74;%2%(#'*#!'+%)<66O$+)J@
(
!"#,())XX,(E8'(%"'9$#1"03(4;#'"(84O$2:(/6"06'9(#8'(/"1/?
'"#.($2(/100'00$12(1;(#8'(9'=#1"(#1(04#$0;.(#8'$"(%&4$<03(<4.(
'b'"%$0'(4&&(#8'("$:8#0(429(="$2:(4&&(#8'(4%#$120(1;(#8'(&4##'"(
;1"(#8'(04<'(/6"/10'3(04O'(#810'(78$%8(4"'($28'"'2#($2(8$0(
/'"012c(#8'.(<4.(4&01($</6:2(#8'(4%#0(78$%8(#8'(9'=#1"(<4.(
84O'(912'(#1(9';"469(#8'<,(
@ABBCDEF
(Subsidiary
remedy)
G)H( M$:8#0(1;(@"'9$#1"0
>2@% 6M28D%C2F36<DJ
>E@% 6MB2:1D%56ED4;L1%C;4C6;D061G%=6<6;2??F%EF%<))<&WO$+)!>6MH
86CD%C;4C6;D061%6M63CD65%EF%DB6%?2A@J%,R$$!-#).!IIF12!4'5'6!
4*7$8.
>8@%
<&&'*+!%V@#*e<)*#'<%>1:E;4=2D4;F%28D04<@%h%'.$.2%6M6;8016%2??%
#'eW)%%2<5%<&)'*+%!$J&$()!DB416%'+W$#$+)%'+!)W$!($#%*+!>?0_6%
C2;6<D2?% 2:DB4;0DFG% ;0=BD% D4% ;6K4_6% 54<2D04<1% 4<% =;4:<5%
47% 0<=;2D0D:56G% B4?5% 47!%86G% 82;;F% 4:D% 2<% 2=6<8F@J% *B01% 01%
/aY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aa
+*)%;6365F%47%%V@#*e<)'*+!;676;;65%D4%0<%DB6%!B2CD6;%4<%
-4K2D04<J%,R$$!3!E<+#$%<2!(.!IGI8.
>5@% <&&'*+!(<V6'<+<%>03C:=<%4;%;6180<5%28D1%4;%84<D;28D1%54<6%
EF%DB6%56ED4;%D4%567;2:5%DB6%8;650D4;1@J%>R$$!-#)%.!/F30!)*!
/F3D! *>! )W$! 4'5'6! 4*7$% AB08B% 562?1% A0DB% ;6180110E?6% 84<H
D;28D1J@
%
NJ<O(6$S
(
(
M':4&491(O,(N6%840$2:%1(429(@1,
S(J8$&,(+KS
(
!
P-4QRS!-%A21%2%5676<52<D%0<%2%80K0?%8216J%+6%?41DG%2<5%2DH
D28B36<D%A21%011:65%2=20<1D%B01%C;4C6;DF.!LG%DB6%A0<<6;G%84:?5%
<4D%84??68D%B01%8?203%E682:16%0D%A21%50184K6;65%DB2D%-!B25%14?5%
B01%A2;6B4:16%D4%B01%14<G%42!27D6;%2DD28B36<D%B25%E66<%011:65%
4<%1:8B%C;4C6;DFJ%L2%AB4%84:?5%<4D%84??68D%0<%2<F%4DB6;%A2F%E6H
82:16%-%B25%<4%34<6FG%E;4:=BD%2<%28D04<%D4%;6180<5%DB6%84<D;28D%
2??6=65?F%3256%D4%567;2:5%B03J%"D%A21%C;4K65%DB2DI
/@%
S?DB4:=B%DB6%A2;6B4:16%A21%A4;DB%,N]GTTTG%DB6%14<%2?H
?6=65?F%C205%4<?F%,/]GTTT%74;%0DW
N@%
*B6%14<%C;4E2E?F%505%<4D%B2K6%DB6%,/]GTTT%4;%2<F%4DB6;%1:3%
47%03C4;D2<86%A0DB%AB08B%D4%E:F%DB6%1205%A2;6B4:16J
%
!
TN?=S! *B6% D;2<128D04<% 01% 7;2:5:?6<D% 2<5% 10<86% L2% DB6%
8;650D4;G%82<<4D%;684K6;%0<%2<F%4DB6;%A2FG%DB6%84<D;28D%4:=BD%D4%
E6%;6180<565J
(
(
['""421(O,(@'2#"4&(-42\3('#(4&,
N?L*S))3(P'=,()U3()TR*
%
%
*4%;684K6;%D036%56C410D1%C?:1%0<D6;61D%7;43%2%501D;61165%
E2<_G%DB6%8?203%3:1D%E6%K6<D0?2D65%0<%DB6%!4:;D%47%)0;1D%"<1D2<86%
><4A%b6=04<2?%*;02?%!4:;D@%0<%DB6%C;4C6;%28D04<G%E:D%DB01%28D04<%
1B4:?5%<4D%E6%4<6%74;%O<+7<OV%%4;%C;4B0E0D04<J
%
%
"<% DB6% 84<8:;;0<=% 4C0<04<G% B4A6K6;G% 47% ^:1D0861% b234<%
S9:0<4% 2<5% S<D4<04% O2;;654G% DB6% 8?203% 3:1D% E6% !%?65% 0<% DB6%
C;4C6;%?09:052D04<%C;486650<=1J
/aZ
%
S;DJ%//aa
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
GKH( Cb4</&'0(1;(M$:8#0(>28'"'2#($2(#8'(J'"012(1;(#8'(I'=#1"(
429(`8$%8(E8'"';1"'(@4221#(-'(Cb'"%$0'9(=.(#8'(@"'9$?
#1"0
>2@% *B6%;0=BD%D4%6M01D6<86G%DB6;6EF%6M63CD0<=%7;43%DB6%;628B%
47%8;650D4;1G%AB2D6K6;%B6%32F%E6%;6860K0<=%21%1:CC4;DJ
>E@% b0=BD1%4;%;6?2D04<1%47%2%C:E?08%8B2;28D6;%>?0_6%C410D04<1%0<%
DB6%=4K6;<36<D@J
>8@%
b0=BD1% 47% 2<% B4<4;2;F% 8B2;28D6;% >?0_6% 2% 548D4;L1% 56=;66G%
W*+*#'%!&<V%<@J
>5@% b0=BD1%C6;D20<0<=%D4%DB6%27720;1%47%DB6%B436%2<5%DB6%7230?F%
>1:8B%21%DB6%C6;14<2?%;0=BD1%47%B:1E2<5%2<5%A076@J
>6@% b0=BD1%=;2<D65%EF%?2A%4<?F%D4%DB6%56ED4;%1:8B%21%DB6%28D04<%
D4%;6K4_6%2%54<2D04<%4<%DB6%=;4:<5%47%0<=;2D0D:56J%,R$$!3!
E<+#$%<!//18.
>7@%
*B6%;0=BD%D4%2CC62;%0<%84:;D%C;486650<=1G%?0_6%DB6%16DD?636<D%
47%2<%61D2D6J%,]+!C$!N%)<)$!*>!4$@<66*%2!/I!"W'6.!IG/8.
GLH( J"1/'"#$'0(Cb'</#(;"1<(Cb'%6#$12
%
%
(M86CD%21%4DB6;A016%6MC;611?F%C;4K0565%EF%?2AG%DB6%74??4AH
0<=%C;4C6;DFG%2<5%<4%4DB6;G%1B2??%E6%6M63CD%7;43%6M68:D04<I
>2@% *B6%R:5=36<D%4E?0=4;L1%7230?F%B436%21%C;4K0565%EF%?2AG%4;%
DB6%B4361D625%0<%AB08B%B6%;610561G%2<5%?2<5%<686112;0?F%
:165%0<%84<<68D04<%DB6;6A0DBW
>E@% &;50<2;F%D44?1%2<5%03C?636<D1%C6;14<2??F%:165%EF%B03%0<%
B01%D;256G%63C?4F36<DG%4;%?0K6?0B445W
>8@%
*B;66% B4;161G% 4;% DB;66% 84A1G% 4;% DB;66% 82;2E241G% 4;% 4DB6;%
E621D1%47%E:;56<G%1:8B%21%DB6%R:5=36<D%4E?0=4;%32F%16?68D%
<686112;0?F%:165%EF%B03%0<%B01%4;50<2;F%488:C2D04<W
>5@% +01%<686112;F%8?4DB0<=%2<5%2;D08?61%74;%4;50<2;F%C6;14<2?%
:16G%6M8?:50<=%R6A6?;FW
>6@% +4:16B4?5%7:;<0D:;6%2<5%:D6<10?1%<686112;F%74;%B4:16_66CH
0<=G%2<5%:165%74;%DB2D%C:;C416%EF%DB6%R:5=36<D%4E?0=4;%2<5%
B01%7230?FG%1:8B%21%DB6%R:5=36<D%4E?0=4;%32F%16?68DG%47%2%
K2?:6%<4D%6M86650<=%4<6%B:<5;65%DB4:12<5%C6141W
>7@%
,;4K0104<1%74;%0<50K05:2?%4;%7230?F%:16%1:7!%806<D%74;%74:;%
34<DB1W
/YT
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aa
>=@% *B6%C;4761104<2?%?0E;2;061%2<5%69:0C36<D%47%R:5=61G%?2AH
F6;1G% CBF10802<1G% CB2;32801D1G% 56<D01D1G% 6<=0<66;1G% 1:;H
K6F4;1G%8?6;=F36<G%D628B6;1G%2<5%4DB6;%C;4761104<2?1G%<4D%
6M86650<=%DB;66%B:<5;65%DB4:12<5%C6141%0<%K2?:6W
>B@% &<6%!%1B0<=%E42D%2<5%2886114;061%<4D%6M86650<=%DB6%D4D2?%
K2?:6%47%4<6%B:<5;65%DB4:12<5%C6141%4A<65%EF%2%!%1B6;32<%
2<5%EF%DB6%?2A7:?%:16%47%AB08B%B6%62;<1%B01%?0K6?0B445W
>0@%
.4%3:8B%47%DB6%12?2;061G%A2=61G%4;%62;<0<=1%47%DB6%R:5=36<D%
4E?0=4;% 74;% B01% C6;14<2?% 16;K0861% A0DB0<% DB6% 74:;% 34<DB1%
C;68650<=%DB6%?6KF%21%2;6%<686112;F%74;%DB6%1:CC4;D%47%B01%
7230?FW
>R@%
$6DD6;65%=;2K61D4<61W
>_@% `4<061G%E6<6!%D1G%C;0K0?6=61G%4;%2<<:0D061%288;:0<=%4;%0<%2<F%
32<<6;%=;4A0<=%4:D%47%2<F%?076%0<1:;2<86W
>?@%
*B6%;0=BD%D4%;6860K6%?6=2?%1:CC4;DG%4;%34<6F%4;%C;4C6;DF%
4ED20<65%21%1:8B%1:CC4;DG%4;%2<F%C6<104<%4;%=;2D:0DF%7;43%
DB6%f4K6;<36<DW
>3@% ,;4C6;D061%1C6802??F%6M63CD65%EF%?2AJ
%
O:D%<4%2;D08?6%4;%1C68061%47%C;4C6;DF%36<D04<65%0<%DB01%168H
D04<%1B2??%E6%6M63CD%7;43%6M68:D04<%011:65%:C4<%2%R:5=36<D%
;684K6;65%74;%0D1%C;086%4;%:C4<%2%R:5=36<D%47%74;68?41:;6%
47%2%34;D=2=6%DB6;64<J%,R$&.!/F2!CV6$!FD!*>!/DDG!CV6$%!*>!
4'5'6!"#*&$7V#$8.
%
(
(
(
B62$%$/4&$#.(1;([42(B$:6'&(O,
a12,(A0%4"(P'"2429'V
N?+)XUU3(^62,(K+3()TRU
(
%
*B6%7:<51%47%2%3:<080C2?0DF%1B4:?5%E6%;6=2;565%21%C:E?08%
7:<51G%2<5%21%1:8BG%2;6%6M63CD65%7;43%6M68:D04<%D4%12D017F%2%
34<6D2;F%R:5=36<D%0<%2%80K0?%?0D0=2D04<J
GUH( `8'2(P4<$&.(a1<'(>0(D1#(Cb'</#'9(;"1<(!##4%8<'2#(
1"(Cb'%6#$12
>2@% aV7'&'<6!><O'6K!W*O$
!
%
*B6%7230?F%B436G%27D6;%0D1%8;62D04<%EF%K0;D:6%47%R:50802?%
2CC;4K2?G%1B2??%E6%6M63CD%7;43%6M68:D04<G%74;865%12?6G%4;%
2DD28B36<DG%$J&$()S
/Y/
%
S;DJ%//aa
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
/@%
74;%<4<HC2F36<D%47%D2M61%>2??%_0<51@W
N@%
0<%12D01728D04<%47%2%R:5=36<D%4<%2%56ED%168:;65%EF%2%
34;D=2=6%84<1D0D:D65%4<%DB6%0334K2E?6%@$>*#$!4;%<>)$#%
DB6%61D2E?01B36<D%47%DB6%7230?F%B436J%,-#).!IFI2!4'5'6!
4*7$8.
>E@% NJ)#<UV7'&'<6!><O'6K!W*O$
!
%
*B6%7230?F%B436%$J)#<UV7'&'<66K%74;365%1B2??%E6%$J$O()!
7;43%6M68:D04<G%74;865%12?6G%4;%2DD28B36<DG%$J&$()S
/@%
74;%<4<HC2F36<D%47%D2M61%>2??%_0<51@W
N@%
74;%56ED1%0<8:;;65%@$>*#$!DB6%568?2;2D04<%A21%;684;565%
0<%DB6%b6=01D;F%47%,;4C6;DFW
Q@%
74;%56ED1%168:;65%EF%34;D=2=61%4<%DB6%C;630161%E674;6%
4;%27D6;%1:8B%;684;5%47%DB6%568?2;2D04<W
\@%
74;% 56ED1% 5:6% D4% ?2E4;6;1G% 368B2<081G% 2;8B0D68D1G%
E:0?56;1G%32D6;02?36<%2<5%4DB6;1%AB4%B2K6%;6<56;65%
%$#5'&$!*#!>V#+'%W$7!O<)$#'<6%74;%DB6%84<1D;:8D04<%47%
DB6%E:0?50<=J%,-#).!I:F2!4'5'6!4*7$8.
GSH( Cb#'2#(1;(I'=#1"Z0(N$4=$&$#.
(
%
V*B6% 56ED4;% 01% ?02E?6% A0DB% 2??% B01% C;4C6;DFG% C;616<D% 2<5%
7:D:;6G%74;%DB6%7:?!%??36<D%47%B01%4E?0=2D04<1%1:ER68D%D4%DB6%6M63CH
D04<1%C;4K0565%EF%?2AJX%,-#).!IIF12!4'5'6!4*7$8.
(
(
(
[/'%$4&(['"O$%'0(@1"/1"4#$12(O,
@'2#"1(N4(J4V
N?UU)**3(!/",(KR3()TRL
(
%
*B6%84:;DL1%C4A6;%D4%6<74;86%0D1%R:5=36<D%2CC?061%4<?F%D4%
DB6%C;4C6;D061%AB08B%2;6%V+7'%(V)<@6K%4A<65%EF%DB6%R:5=36<D%
56ED4;J
G+H( M$:8#(1;(#8'(@"'9$#1"(1;(42(>201&O'2#(@1"/1"4#$12
(
(
(
(
C40#'"2([8$//$2:(N$2'03(>2%,
O,([16#8(['4(Cb/1"#03(>2%,3('#(4&,3
M$%4"91(e,(!&$294.6(429(!9"$421(I,(>04010
@!?QM(SRRRL?M3(^6&,(K)3()TR)
%
%
S%8;650D4;%47%2<%0<14?K6<D%84;C4;2D04<%82<%1:6%2%1:E18;0E6;%
DB6;6D4%AB4%B21%<4D%843C?6D6?F%C205%74;%B01%1:E18;0CD04<G%C;4H
/YN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
S;DJ%//aY
K0565%1:8B%8;650D4;%1:61%<4D%0<%B01%4A<%C;0K2D6%82C280DFG%E:D%0<%
2%;6C;616<D2D0K6%82C280DFG%DB2D%01G%0<%E6B2?7%47%DB6%84;C4;2D04<J%
*B01%01%:<56;%DB6%;2D04<2?6%DB2D%1205%:<C205%1:E18;0CD04<%01%2<%
2116D%47%DB6%84;C4;2D04<%2<5%DB6;674;6%A0DB0<%DB6%;628BG%<4D%47%
DB6%1:0<=%8;650D4;%2?4<6G%E:D%47%2??%DB6%K2;04:1%84;C4;2D6%8;650H
D4;1J%S%84<D;2;F%;:?6%A4:?5%E6%:<720;%D4%2??%DB6%4DB6;%84;C4;2D6%
8;650D4;1J
(
!"#,())XR,([6=_'%#(#1(#8'(&4703(4&&("$:8#0(4%56$"'9($2(O$"?
#6'(1;(42(1=&$:4#$12(4"'(#"420<$00$=&'3($;(#8'"'(840(=''2(21(
0#$/6&4#$12(#1(#8'(%12#"4".,
@ABBCDEF
G)H( E"420<$00$=$&$#.(1;(M$:8#0
>2@% B$+$#<6!#V6$%h%b0=BD1%2;6%D;2<130110E?6J
>E@% NJ&$()'*+%
!
/@%
07%DB6%?2A%C;4K0561%4DB6;A016W
N@%
07%DB6%84<D;28D%C;4K0561%4DB6;A016W
Q@%
07%DB6%4E?0=2D04<%01%C:;6?F%C6;14<2?J
!
_9HQNS!]+)#<+%O'%%'@'6')K!@K!&*+)#<&)V<6!%)'(V6<)'*+2!E60<=%
DB6%6M86CD04<%D4%DB6%;:?6G%3:1D%E6%&6$<#6K!(#*5$7.!,R$$!N%)<)$!*>!
T$#+<+7$d!5.!?Vd*+!RV#$)K!4*.2!?A3:FG2!9*5.!I32!/D;18.`
GKH( D12?D':1#$4=&'(J"1<$001".(D1#'
%
%
(K6<% 07% 2% C;430114;F% <4D6% 01% <4D% <6=4D02E?6G% 0D% 32F% 1D0??%
E6%=0K6<G%54<2D65G%4;%2110=<65%D4%2<4DB6;J%*B6%67768D1%A0??%E6%
=4K6;<65%<4D%EF%DB6%?2A%4<%<6=4D02D04<%E:D%EF%DB6%?2A%4<%21H
10=<36<D%4;%54<2D04<1J%,B*+d<6$%!5.!L6<%2!F!"W'6.!FGD8.!,2F36<D%
82<%E6%3256%D4%D;2<176;66G%C;4K0565%B6%01%0<%?2A7:?%C41161104<%
47%DB6%8;650DJ%,-d<##<e<!5.!C*7#'eV$d2!D!"W'6.!1FG8.
GLH( E"420;'"(1;(M$:8#0(;"1<(#8'(^4/42'0'(#1(#8'(!<'"$%420(
#1(#8'(P$&$/$210
(
(
M'/6=&$%(O,(C<$&$1(Q642V12
N?KKLXU3(I'%,()R3()TXU
(
!
P-4QRS!(30?04%f:2<[4<%E4;;4A65%34<6F%7;43%DB6%O2<_%
47%*20A2<%5:;0<=%DB6%^2C2<616%488:C2D04<J%.68:;0DF%A21%=0K6<%
/YQ
%
S;DJ%//aY
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
0<% DB6% 74;3% 47% 2% ;62?% 34;D=2=6% 4<% DA4% C2;86?1G% 2<5% 2% 8B2DD6?%
34;D=2=6%4<%DB6%8;4C1%=;4A0<=%4<%1205%C2;86?1J%PB6<%DB6%,B0?0CH
C0<61%A21%?0E6;2D65%0<%/Z\UG%DB6%34;D=2=6%8;650D%A21%289:0;65%
EF%DB6%c<0D65%.D2D61G%2<5%?2D6;%D;2<176;;65%D4%DB6%,B0?0CC0<61%
DB;:%DB6%,B0?0CC0<6%,;4C6;DF%S8D%47%/Z\U%>47%DB6%cJ.J%!4<=;611G%
2<5%DB6;674;6G%2%74;60=<%?2A@J%*B6%,B0?0CC0<61%DB6<%!%?61%2<%28D04<%
74;%74;68?41:;6J%*B6%?4A6;%84:;D%501301165%DB6%28D04<G%!%;1D?FG%4<%
DB6%=;4:<5%DB2D%DB6%,B0?0CC0<61%01%<4D%2%C2;DFH0<H0<D6;61D%>B21%
<4%;62?%?6=2?%0<D6;61D%0<%DB6%34;D=2=6%?42<1@G%2<5%1684<5?FG%4<%
DB6%=;4:<5%DB2D%DB6%74;60=<%?2A%80D65%82<<4D%E6%D2_6<%R:50802?%
<4D086%47G%2<5%;61:?D2<D?FG%82<<4D%E6%67768D0K6%0<%4:;%84:<D;FJ
%
!
TN?=S%
>2@% *B6%,B0?0CC0<61%B21%?6=2?%0<D6;61D%0<%DB6%34;D=2=6%?42<1G%
E682:16%DB6%34;D=2=6%8;650D%A21%D;2<176;;65%D4%4:;%=4K6;<H
36<D%EF%DB6%cJ.J%DB;:%DB6%,B0?0CC0<6%,;4C6;DF%S8D%47%/Z\U%
>2%74;60=<%?2A%5:?F%289:061865%0<%EF%E4DB%DB6%6M68:D0K6%2<5%
?6=01?2D0K6%E;2<8B61%47%4:;%=4K6;<36<D@J!,L#*X+$662!a#.!5.!
RV+!?'>$!-%%V#<+&$!4*.2!D;!"W'6.!II3!_/D;:`.8
>E@% O682:16% 47% 1:8B% 84<16<DG% 1205% 74;60=<% ?2A% 82<% E6% D2_6<%
R:50802?%<4D086%47G%2<5%DB6;674;6%82<%E6%=0K6<%67768D%0<%4:;%
84:<D;FJ
GUH( !00$:2<'2#(=.(4(Q64"42#1"
(
(
@1(-62(@862(O,(AO'"0'40(-42\(1;(B42$&4
N?KXLUK3(B4.(KU3()TRU
%
%
PB6<%2%C6;14<%A0DB%2%D036%56C410D%2110=<1%DB6%1236%D4%DB6%
E2<_%D4%=:2;2<D66%DB6%56ED1%4;%4K6;5;27D1%47%4DB6;1G%DB6%2110=<4;%
01%-&*%2%36;6%=:2;2<D4;J%+6%01%E4:<5%EF%2??%DB6%D6;31%0<8?:565%
0<%DB6%2110=<36<DJ
/Y\
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
!"#$%&'()
*+,,-.-/0(1+/*2(3,(345+670+3/2
!"#$$%!&'#(%)*&)+&,-"%.#(%)*$
234% 566789:;<% =7% =>?% ,@"A5@B% 6C3DD:!%63=:7;% 7E% =>?% !:F:C%
!79?G
/4%
!"#$%3D%9:D=:;<H:D>?9%E87I%&'()*+*'(,-
J4%
!"#$% 3D% 9:D=:;<H:D>?9% E87I% =>3=% .*+/% ,% !$#*')% 78%
+$#0
K4%
,-+$#(,+*1$%78%2,&"-+,+*1$%7LC:<3=:7;D%23D%9:D=:;<H:D>?9%
E87I%&'(3"(&+*1$4
M4%
3'*(+%3D%9:D=:;<H:D>?9%E87I%4'-*),#5
14%
)*1*4*6-$%3D%9:D=:;<H:D>?9%E87I%*()*1*4*6-$
N4%
O:=>% 3% !$(,-% 6C3HD?% 23D% 9:D=:;<H:D>?9% E87I% =>7D?%
O:=>7H=4
2L4% .(!&-'5@B%6C3DD:!%63=:7;%LP%=>?%!:F:C%!79?G
264%
/4%
"(*-,+$#,-%3D%9:D=:;<H:D>?9%E87I%6*-,+$#,-%78#+49%::;<=%
::>:?9
J4%
8?3C%3;9%Q?8D7;3C%78#+49%::;@A::;B?9
K4%
9?=?8I:;3=?%3;9%<?;?8:6%78#+49%::;C=%::;<?9
M4%
Q7D:=:F?%3;9%;?<3=:F?%7D$$%8#+49%::;C=%::;<?9
14%
C?<3CR% 67;F?;=:7;3CR% Q?;3C% 78#+49% ::B;=% ::B<=% ::B>=%
::;:?9
N4%
6:F:C%3;9%;3=H83CS
566789:;<%=7%.3;6>?T%@7I3;R%"#R%JUVJMG
/4%
366789:;<%=7%WH8:9:63C%XH3C:=P%3;9%?E!%636:7HD;?DD
34%
;3=H83C%Y%366789:;<%=7%;3=H83C%C3O
L4%
6:F:C%Y%366789:;<%=7%6:F:C%C3O
/01
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
64%
J4%
K4%
I:Z?9% Y% 366789:;<% =7% L7=>% ;3=H83C% 3;9% 6:F:C%
C3OD
LP%=>?%Q38=:?D%78%DHLW?6=D
34%
H;:C3=?83CR%L:C3=?83C
L4%
:;9:F:9H3CR%67CC?6=:F?
64%
W7:;=R%D7C:938P
LP%=>?%7LW?6=%7E%=>?%7LC:<3=:7;
34%
DQ?6:!%6R%<?;?8:6
L4%
Q7D:=:F?R%;?<3=:F?
64%
8?3CR%Q?8D7;3C
94%
Q7DD:LC?R%:IQ7DD:LC?
?4%
9:F:D:LC?R%:;9:F:D:LC?
E4%
Q8:;6:Q3CR%366?DD78P
<4%
D:IQC?R%67IQ7H;9
["E%67IQ7H;9%Y%I3P%L?
2/4% 67;WH;6=:F?% Y% 9?I3;93LC?% 3=% =>?% D3I?%
=:I?
2J4% 9:D=8:LH=:F?%Y%?:=>?8%3C=?8;3=:F?%78%E36HC=3V
=:F?\
294% !C3DD:!%63=:7;%LP%=>?%!79?%366789:;<%=7%'?E?6=DG
/4%
-7%9?E?6=%Y%F3C:9
J4%
'?E?6=:F?
34%
8?D6:DD:LC?
L4%
F7:93LC?
64%
H;?;E786?3LC?
94%
F7:9
&
&
/).#"0$&12&3*(04506%#(0&7880""#(0&!)94(
:;<=>??@&A#*2&BC@&CDEF
&
%
!7IQHCD78P% 8?E?8?;6?% =7% =>?% L383;<3P%
67H8=D%7;%=>?%Q87Q?8%63D?D%".%-&*%WH8:D9:6=:7;3CR%
3C=>7H<>%:=%<?;?83CCP%:D%3%67;9:=:7;%=7%C:=:<3=:7;S%
/0N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//]d
$36^%7E%8?E?8?;6?%3EE?6=D%7;CP%3%Q38=P_D%63HD?%7E%
36=:7;S% *>HDR% 7LW?6=:7;% =7% =>?% C36^% 7E% 3% D=3=?9%
63HD?%7E%36=:7;%:D%9??I?9%O3:F?9%:E%;7=%83:D?9S
G0'(%)*&C
HI/J&7KL&!,KL3M3,K7:&,N:3O7M3,KG
&
74(2&CCPD2&J104Q&)-"%.#(%)*&RS)$0&804+)45#*'0&6)0$&*)(&
6080*6&98)*&#&+9(940&)4&9*'04(#%*&010*(@&)4&98)*&#&8#$(&010*(&
9*T*)R*&()&(S0&8#4(%0$@&%$&605#*6#-"0&#(&)*'02
&
J104Q&)-"%.#(%)*&RS%'S&')*(#%*$&#&40$)"9()4Q&')*6%(%)*&
$S#""&#"$)&-0&605#*6#-"0@&R%(S)9(&840U96%'0&()&(S0&0++0'($&)+&
(S0&S#880*%*.&)+&(S0&010*(2
!,VVJKMW
XCY& H940&,-"%.#(%)*&Y%7;?%.*+/'"+%3%67;9:=:7;%78%3%=?8I%2>?;6?R%
)$0,(),6-$%,+%'(&$=%Q87F:9?9%=>?8?%O:CC%L?%('%,64"#)*+54S
%
%
EF,0!-$4G
234% "%Q87I:D?%=7%Q3P%P7H%,/%I:CC:7;S%[*>:D%:D%9?I3;93LC?%,+%
'(&$=%H;C?DD%3%Q?8:79%O3D%8?3CCP%:;=?;9?9R%3D%O>?;%3%C73;%
>3D%WHD=%L??;%67;=836=?9%7D$$%H-'#*,('%19%I$-J,)'=%::%K/*-9%
:B@?=%78%O>?;%D7I?%=:I?%:D%8?3D7;3LCP%;?6?DD38P%E78%=>?%
36=H3C%EHC!%CCI?;=%7E%=>?%7LC:<3=:7;R%3D%O>?;%3%Q?8D7;%L:;9D%
>:ID?CE%=7%Q3P%*00$)*,+$-5%E78%=>?%DHLD68:Q=:7;%7E%678Q783=?%
D>38?D% 7E% D=76^S% 7K,"-% D&/$(L$#% 19% M*--*,0% H9% N$0!$#-$=%
OA:;@@>=%8"J9%P:=%:>;Q?S\
2L4% `"_CC%Q3P%P7H%,/%I:CC:7;%7;%9?I3;9Sa%7D$$%86,##*=%R(&9%19%
N,-,(=% @C% S9N9% ;Q@:?9% bH=% :;D=3;=% Q?8E78I3;6?% :D% ;7=% 3%
;?6?DD:=PR% 7=>?8O:D?% 3LDH89% 67;D?XH?;6?D% O:CC% 38:D?S% 7<%
T,(#$4,%:CQ?9
264%
c>?;%=>?%'#*J*(,-%Q?8:79%78%&'()*+*'(%>3D%L??;%63;6?CC?9%
LP%=>?%IH=H3C%D=:QHC3=:7;%7E%L7=>%Q38=:?DS%7D$$%E4+,+$%'2%
T'+,%19%D$##,0=%@C%K/*-9%@;@?9
X?Y& !)*6%(%)*#"&,-"%.#(%)*%Y%O>?;%=>?8?%:D%3%67;9:=:7;S
%
%
EF,0!-$G
234% "_CC%LHP%P7H8%C3;9%E78%,/U%I:CC:7;%:E%P7H%Q3DD%=>?%C3D=%L38%
/0]
%
58=S%//]d
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
?Z3I:;3=:7;DS% 2*>:D% :D% 4"4!$(4*1$% E78% =>?% 8?DHC=D% O:CC% L?%
3O3:=?94S
2L4% "_CC%<:F?%P7H%IP%C3;9%;7OR%LH=%D>7HC9%P7H%E3:C%:;%=>?%C3D=%L38%
?Z3I:;3=:7;DR%P7H8%7O;?8D>:Q%O:CC%6?3D?%3;9%:=%O:CC%L?%I:;?%
3<3:;S%2*>:D%:D%#$4'-"+'#5%L?63HD?%:=%?;9D%HQ7;%2,*-"#$94S
XBY& L0!&*%(%)*&)+&!)*6%(%)*
&
%
`"=%:D%3;%H;6?8=3:;%?F?;=%O>:6>%O:?C9D%3;%:;"%H?;6?%7;%3%
C?<3C%8?C3=:7;D>:QSa%Y%T,(#$4,9
XFY& L0!&*%(%)*&)+&#&M045&)4&H04%)6
%
%
*>3=%O>:6>%;?6?DD38:CP%IHD=%67I?%7-*L$%QUUB?%O>?=>?8%=>?%
Q38=:?D%^;7O%./$(%:=%O:CC%>3QQ?;%78%;7=%2-*L$%)$,+/=%D:;6?%=>:D%
:D%4"#$4S
%
%
2VSWEG% '?3=>% L?63HD?% 7E% D989X9D9% :D% 3% &'()*+*'(=% D:;6?%
9?3=>%I3P%L?%9H?%=7%7=>?8%63HD?DS4
%
%
EF,0!-$G%`"_CC%Q3P%P7H%,/%A:CC:7;%7;%Y"(9%:=%QUUB9a
X=Y& ZS0*&#*&,-"%.#(%)*&3$&L05#*6#-"0&#(&,*'0
234% c>?;%:=%:D%!"#$e
2L4% &8%O>?;%:=%>3D%3%#$4'-"+'#5%&'()*+*'(9
%
%
2EF,0!-$G% "_CC% <:F?% P7H% IP% 638R% LH=% P7H% D>7HC9% ;7=%
I388P%A38:3%=>:D%P?38S4%2*>:D%:D%9?I3;93LC?%-&cS4
%
%
2VSWEG% "E% =>?% 7LC:<3=:7;% :D% O789?9% =>:D% O3P%
Y%`"_CC%<:F?%P7H%IP%638R%LH=%7;CP%,2+$#%P7H%63;%Q87F?%
=>3=%LP%=>?%?;9%7E%=>:D%P?38R%P7H%>3F?%;7=%I388:?9%
A38:3a%Y%=>:D%:D%4"4!$(4*1$R%L?63HD?%=>?%?;9%7E%=>?%
=?D=:;<%Q?8:79%IHD=%L?%3O3:=?9S4
X<Y& H#$(&J10*(&I*T*)R*&()&(S0&H#4(%0$
&
%
*>:D%:D%;7=%?Z36=CP%3%67;9:=:7;%D:;6?R%3D%3%I3==?8%7E%8?3C:=PR%
=>?%=>:;<%>3D%,-#$,)5%/,!!$($)%78%('+9%c>3=%:D%8?3CCP%I?3;=%
>?8?%:DR%2"+"#$%L('.-$)J$%'2%,%!,4+%$1$(+%O:CC%9?=?8I:;?%O>?=>?8%
78%;7=%3;%7LC:<3=:7;%O:CC%38:D?S%7D$$%<%T,(#$4,%:QUA:Q:?9%+?;6?R%
/00
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//]d
3%67;9:=:7;%:D%8?3CCP%`3%EH=H8?%5-'%6?8=3:;%?F?;=Ra%;7=%`3%EH=H8?%
&@%H;6?8=3:;%?F?;=Sa%7Y9Z9O9%X$5$4=%S64$#1,+*'(%'(%+/$%V$.%[*1*-%
[')$=%O,.5$#\4%Y'"#(,-=%Y,(9%P:=%:>B:=%!9%@C?9
XPY& !"#$$%!&'#(%)*&)+&!)*6%(%)*$
234% Y%
/4% 4"4!$(4*1$%Y%=>?%>3QQ?;:;<%7E%=>?%67;9:=:7;%<:F?D%
8:D?%=7%=>?%7LC:<3=:7;S
%
J4% #$4'-"+'#5%Y%=>?%>3QQ?;:;<%7E%=>?%67;9:=:7;%?Z=:;V
<H:D>?D%=>?%7LC:<3=:7;S
%
2L4% Y%
/4% !'+$4+,+*1$%Y%9?Q?;9D%HQ7;%=>?%O:CC%7E%=>?%9?L=78%
2EF,0!-$G%"_CC%D?CC%P7H%IP%638%:E%"%C:^?S4
%
%
J4% &,4",-%]%9?Q?;9D%7;%6>3;6?%78%>3T389%78%=>?%O:CC%
7E%3%=>:89%Q?8D7;%2:E%"%O:;%:;%=>?%C7==74S
%
%
K4% 0*F$)%Y%9?Q?;9D%Q38=CP%7;%=>?%O:CC%7E%7;?%7E%=>?%
Q38=:?D%3;9%Q38=CP%7;%6>3;6?%78%=>?%O:CC%7E%3%=>:89%
Q?8D7;%2:E%"%Q3DD%=>?%L384S
264%
Y%
/4% )*1*4*6-$%263Q3LC?%7E%Q38=:3C%Q?8E78I3;6?4S
%
%
J4% *()*1*4*6-$% 2;7=% 63Q3LC?% 7E% Q38=:3C% Q?8E78I3;6?%
L?63HD?%7E%=>?%;3=H8?%7E%=>?%=>:;<R%78%L?63HD?%7E%
=>?%:;=?;=:7;%7E%=>?%Q38=:?D4S
294% Y%
/4% !'4*+*1$%]%3;%36=%:D%=7%L?%Q?8E78I?9S
%
J4% ($J,+*1$%]%D7I?=>:;<%O:CC%L?%7I:==?9S
%
2?4% Y%
/4% $F!#$44%]%=>?%67;9:=:7;%:D%D=3=?9S
%
%
J4% *0!-*$)%]%=>?%67;9:=:7;%I?8?CP%:;E?88?9S
2E4%
Y%
/4% !'44*6-$%]%63Q3LC?%7E%EHC!%CCI?;=%:;%;3=H8?%3;9%:;%
C3OS
%
%
J4% *0!'44*6-$% ]% ;7=% 63Q3LC?% 7E% EHC!%CCI?;=% 9H?% =7%
;3=H8?%78%9H?%=7%=>?%7Q?83=:7;%7E%=>?%C3O%78%I78V
3CD%78%QHLC:6%Q7C:6Pe%78%9H?%=7%3%67;=839:6=:7;%:;%:=D%
=?8IDS
2<4% Y%
/4% &'(3"(&+*1$% Y% :E% 3CC% =>?% 67;9:=:7;D% IHD=% L?% Q?8V
E78I?9S
%
J4% ,-+$#(,+*1$%]%:E%7;CP%3%E?O%7E%=>?%67;9:=:7;D%>3F?%
=7%L?%Q?8E78I?9S%7D$$%<%T,(#$4,%:PU?9
%
/0d
%
58=S%//0U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
74(2&CCE>2&ZS0*&(S0&60-()4&-%*6$&S%5$0"+&()&8#Q&RS0*&S%$&
50#*$& 8045%(& S%5& ()& 6)& $)@& (S0& )-"%.#(%)*& $S#""& -0& 600506&&
()&-0&)*0&R%(S&#&804%)6@&$9-U0'(&()&(S0&84)1%$%)*$&)+&74(%'"0&
CCDP2
!,VVJKMW
XCY& L0-()4&()&H#Q&[ZS0*&\%$&V0#*$&H045%(]
&
%
5C=>7H<>%:=%I3P%4$$0%=>3=%58=S%//0U%DQ?3^D%7E%3%67;9:=:7;%
9?Q?;9?;=%?Z6CHD:F?CP%7;%=>?%O:CC%7E%=>?%9?L=78%23;9%=>?8?E78?%
3QQ38?;=CP%#&"'%H;9?8%58=S%//0J4R%=>?%E36=%8?I3:;D%+/,+%!,5A
0$(+%)'$4%('+%)$!$()%'(%)$6+'#\4%.*--=%E78%:;9??9%>?%>39%Q87IV
:D?9%Q3PI?;=S%c>3=%9?Q?;9D%8?3CCP%7;%>:I%:D%;7=%Q3PI?;=R%LH=%
=>?%WRTE%O>?;%Q3PI?;=%:D%=7%L?%I39?S%+?;6?R%=>?%C3O%H;9?8%
58=S%//0U%67;D:9?8D%=>:D%7LC:<3=:7;%3D%'($%.*+/%,%WEXT%'#%KEA
XRSI9
X?Y& G%5%"#4&HS4#$0$
234% `O>?;%IP%I?3;D%Q?8I:=%=7%97%D7ae
2L4% `O>?;%"%63;%3EE789%:=ae
264%
`O>?;%"%3I%3LC?%=7ae
294% `O>?;%"%>3F?%I7;?PRa%$+&9
XBY& \)R&:)*.&3$&(S0&M045^
&
%
"=% :D% 7LF:7HD% =>3=% =7% C?3F?% =>?% D3I?% =7% =>?% 9:D68?=:7;% 7E%
?:=>?8%68?9:=78%78%9?L=78%O7HC9%L?%H;WHD=R%=>?8?E78?R%58=S%//d]%
D>7HC9%L?%3QQC:?9R%./$#$%+/$%['"#+%*4%'6-*J$)%+'%!%F%+/$%)"#,+*'(%
'2%+/$%!$#*')S%*>?%<?;?83C%8HC?%:DR%=>?8?E78?R%E78%=>?%68?9:=78%=7%
3D^%=>?%67H8=%!%#4+%E78%=>?%!%Z:;<%7E%=>?%=?8IR%3;9%:=%:D%7;CP%O>?;%
=>3=%=?8I%D?=%388:F?D%=>3=%>?%63;%9?I3;9%EHC!%CCI?;=S%5;P%36=:7;%
=7%8?67F?8%L?E78?%=>:D%:D%97;?%:D%67;D:9?8?9%!#$0,+"#$9%7K,+$(+$%
19%S0$J,=%>P%K/*-9%Q:<?9%";%D3:9%K,+$(+$%63D?R%=>?%Q>83D?%O3D%
`3D%D77;%3D%Q7DD:LC?%78%3D%D77;%3D%"%>3F?%I7;?PSa%*>?%7;CP%63D?%
O>?;%=>?%L8:;<:;<%7E%=>?%36=:7;%=7%?;E786?R%L?E78?%=>?%67H8=%!%Z?D%
=>?%=?8IR%.'"-)%6$%,--'.$)%:D%O>?;%=>?%Q8:78%36=:7;%7E%!%Z:;<%=>?%
=?8I%O7HC9%D?8F?%;7%QH8Q7D?%LH=%9?C3PS%7W*J-,'=%$+%,-9%19%T,(*-,%
X,*-#',)%['9=%><%K/*-9%:<:?9
/dU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//0/
&
74(2&CCEC2&3*&')*6%(%)*#"&)-"%.#(%)*$@&(S0&#'_9%$%(%)*&)+&
4%.S($@&#$&R0""&#$&(S0&0`(%*.9%$S50*(&)4&")$$&)+&(S)$0&#"40#6Q&
#'_9%406@&$S#""&6080*6&98)*&(S0&S#880*%*.&)+&(S0&010*(&RS%'S&
')*$(%(9(0$&(S0&')*6%(%)*2
!,VVJKMW
XCY& G9$80*$%10&#*6&/0$)"9()4Q&!)*6%(%)*$
&
%
*>:D%58=:6C?%=8?3=D%7EG
234% 4"4!$(4*1$%&'()*+*'(4%Y%=>?%>3QQ?;:;<%7E%O>:6>%O:CC%<:F?%
8:D?% =7% =>?% 36XH:D:=:7;% 7E% 3% 8:<>=% 23CD7% 63CC?9% &'()*+*'(4%
!#$&$)$(+%78%&'()*+*'(4%,(+$&$)$(+49%b?%:=%;7=?9%=>3=%O>3=%
6>3836=?8:T?D%3;%7LC:<3=:7;%O:=>%3%DHDQ?;D:F?%67;9:=:7;%:D%
=>?%E36=%=>3=%:=D%?E!%636P%78%7LC:<3=78P%E786?%:D%DHL789:;3=?9%
=7% =>?% >3QQ?;:;<% 7E% 3% 2"+"#$% ,()% "(&$#+,*(% $1$(+e% :E% =>?%
DHDQ?;D:F?%67;9:=:7;%97?D%;7=%=3^?%QC36?R%=>?%Q38=:?D%O7HC9%
D=3;9% 3D% :E% =>?% 67;9:=:7;3C% 7LC:<3=:7;% >39% ;?F?8% ?Z:D=?9S%
7N,*+$%19%H'(,&*$#=%OA::<QC=%Y"-9%P:=%:>;:=%Q%D[X8%<P:?9
%
%
EF,0!-$4G
/4%
`"%Q87I:D?%=7%97%O>3=%P7H%3D^%Q87F:9?9%=>3=%^%67;9:V
=:7;%:D%!%8D=%67IQC:?9%O:=>Sa%7D$$%K/*-9%V,+9%Z,(L%19%
K/*-9%W#"4+%['9=%;<%K/*-9%@<?9
J4%
8=%:;%>:D%O:CCR%<3F?%D7I?%Q87Q?8=P%=7%Z=%Q87F:9?9%=>3=%
8% O7HC9% 9:?% .*+/*(% 3% 6?8=3:;% Q?8:79S% 8% 9:9% ;7=% 9:?%
9H8:;<% D3:9% Q?8:79S% .:;6?% =>?% DHDQ?;D:F?% 67;9:=:7;%
O3D%;7=%67IQC:?9%O:=>R%Z%:D%;7=%?;=:=C?9%=7%:;>?8:=S%
7V,+*1*),)%19%N,6*('=%P;%K/*-9%;;P?9
K4%
"E%:;%3%WH9<I?;=%LP%3%67H8=%:=%:D%D=3=?9%=>3=%H;C?DD%
3%L7;9%:D%<:F?;R%=>?%WH9<I?;=%63;%L?%?;E786?9%?F?;%
O>:C?%:=%:D%D=:CC%7;%3QQ?3CR%=>?%<:F:;<%7E%=>?%L7;9%D>7HC9%
L?%67;D:9?8?9%3D%Q38=3^:;<%7E%=>?%;3=H8?%7E%3%DHDQ?;V
D:F?%67;9:=:7;S%"E%=>?%L7;9%L?%;7=%<:F?;R%?;E786?I?;=%
78%?Z?6H=:7;%63;%:DDH?S%7D$$%D,(+'4%19%T'3*&,=%OAQ@Q;;=%
Y,(9%Q@=%:>;@?9
&
&
N0*.$)*&12&!S#*
PE&G!/7&CCB
&
%
RDD_EG% "E% 3% 67;=836=% Q87F:9?D% E78% 38L:=83=:7;% Q8:78%
=7%8?67H8D?%=7%67H8=D%LH=%=>?%63D?%O3D%!%C?9%O:=>7H=%DH6>%
;??9?9%38L:=83=:7;R%D>7HC9%=>?%63D?%L?%9:DI:DD?9f
/d/
%
58=S%//0/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
`EOIG%-7R%E78%=>?%8?I?9P%D>7HC9%L?%=7%DHDQ?;9%=>?%
63D?%H;=:C%3E=?8%38L:=83=:7;%:D%8?D78=?9%=7S%7D$$%,-4'%X989%
V'9%<C;=%'+/$#.*4$%L('.(%,4%+/$%8#6*+#,+*'(%O,.?9
&
&
G#*&V%.90"&12&J"-%*%#$
:;FE?C>@&A#*2&BC@&CDEF
%
%
b?E78?% =>?% O8:=% 7E% Q8?C:I:;38P% :;WH;6=:7;% 63;% L?%
<83;=?9R%=>?%Q7D=:;<%7E%3%L7;9%2=7%3;DO?8%E78%67;D?XH?;=%
93I3<?D4%:D%3%&'()*+*'(%4*($%a",%('(%2:;9:DQ?;D3LC?%DHDV
Q?;D:F?%67;9:=:7;%78%67;9:=:7;%Q8?6?9?;=4S
&
&
&
7.#8%()&O9(%0440a&12&!#8%(#"&3*$94#*'0
#*6&G940(Q&!)2
:;?<E?P@&A9*2&?D@&CDEF
&
%
"E%=>?%:;DH83;6?%67;=836=%D=:QHC3=?D%=>3=%=>?%98:F?8%7E%
3;%:;DH8?9%638%IHD=%L?%=>?%7O;?8%7E%3%F3C:9%3;9%DHLD:D=V
:;<%C:6?;D?R%3;9%3=%=>?%=:I?%7E%=>?%366:9?;=%=>?%98:F?8%>39%
3;%$F!*#$)%C:6?;D?R%=>?%:;DH83;6?%67IQ3;P%O7HC9%;7=%L?%
C:3LC?S
&
&
3*(0.4#(06&!)*$(49'(%)*&12&/0")1#
O/&FCCCP@&L0'2&?D@&CDE<
%
%
H8[WDG% 5% 9?6:D:7;V3O389% LP% 3;% 38L:=83=:7;% L7389%
789?8?9%=>?%A?=87Q7C:=3;%c3=?8O78^D%3;9%.?O?83<?%.PDV
=?I%2Ac..4%=7%Q3P%";=?<83=?9%!7;D=8H6=:7;%,/KR/00S1US%
$3=?8R% ";=?<83=?9% 3<8??9% =7% <:F?% Ac..% D7I?% 9:D67H;=D%
Q87F:9?9%Ac..%O7HC9%Q3P%=>?%3I7H;=%7;%&6=S%/]R%/d]JS%
Ac..R%>7O?F?8R%Q3:9%7;CP%7;%'?6S%JJR%/d]JR%=>?%3I7H;=%
D=3=?9% :;% =>?% 9?6:D:7;% C?DD% =>?% 8?9H6=:7;DS% *>8??% P?38D%
C3=?8R%";=?<83=?9%I7F?9%E78%?Z?6H=:7;%3<3:;D=%Ac..%E78%
=>?%L3C3;6?%9H?%H;9?8%=>?%9?6:D:7;V3O389S%Ac..%7QQ7D?9%
=>?% ?Z?6H=:7;% D?==:;<% E78=>% =>?% 9?E?;D?% 7E% Q3PI?;=S% *>?%
WH9<?%9?;:?9%=>?%?Z?6H=:7;%7;%=>?%<87H;9%=>3=%=>?%Q38=:?D%
>39%;7F3=?9%=>?%3O389%LP%=>?:8%DHLD?XH?;=%3<8??I?;=S
%
%
`EOIG%c>:C?%=>?%=?;78%7E%=>?%DHLD?XH?;=%3<8??I?;=%
:;%3%D?;D?%;7F3=?D%=>?%WH9<I?;=%3O389%=>?8?%L?:;<%3%D>78=V
?;:;<% 7E% =>?% Q?8:79% O:=>:;% O>:6>% =7% Q3PR% =>?% DHDQ?;D:F?%
/dJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//0/
3;9%67;9:=:7;3C%;3=H8?%7E%=>?%D3:9%3<8??I?;=%2I3^:;<%=>?%
;7F3=:7;%67;9:=:7;3C4%:D%36^;7OC?9<?9%LP%Ac..S%"=D%E3:CV
H8?%=7%Q3P%O:=>:;%=>?%D=:QHC3=?9%Q?8:79%8?I7F?9%=>?%F?8P%
63HD?%E78%=>?%3<8??I?;=R%8?;9?8:;<%=>?%D3I?%:;?EE?6=:F?%
3;9R%=>?8?E78?R%=>?%Q38=:?D%O?8?%8?I:==?9%=7%=>?:8%78:<:;3C%
8:<>=D%H;9?8%=>?%WH9<I?;=%3O389S
2L4% #$4'-"+'#5%&'()*+*'(4%]%23CD7%63CC?9%67;9:=:7;D%DHLD?XH?;=4%
Y%>?8?R%8:<>=D%3C8?39P%36XH:8?9%38?%C7D=%7;6?%=>?%67;9:=:7;%
:D%EHC!%CC?9S
%
%
EF,0!-$G
/4%
"_CC%<:F?%P7H%IP%638%;7O%LH=%D>7HC9%P7H%Q3DD%=>?%L38R%
=>?%97;3=:7;%O:CC%;7=%L?%?EE?6=:F?S%"E%P7H%Q3DD%=>?%L38R%
P7H%IHD=%8?=H8;%=>?%638%=7%I?S
&
&
H#4T$&12&H4)12&)+&M#4"#'
FD&HS%"2&CF?
&
%
H8[WDG! !7;6?Q6:7;% !:8:8% 3;9% g3I?D% +:CC% 97V
;3=?9%C3;9%=7%=>?%Q87F:;6?%7E%*38C36%7;%67;9:=:7;%=>3=%
=>?%C3==?8%O7HC9%LH:C9%HQ7;%=>?%C3;9%3%D6>77C>7HD?%
3;9%3%Q38^R%=>?%O78^%=7%L?<:;%O:=>:;%N%I7;=>D%E87I%
=>?%93=?%=>?%Q38=:?D%83=:EP%=>?%97;3=:7;S%*>?%Q87F:;6?%
366?Q=?9%=>?%97;3=:7;R%3;9%=>?%C3;9%O3D%8?<:D=?8?9%:;%
=>?%;3I?%7E%=>?%97;??S%.?F?83C%P?38D%C3=?8R%;7=:6:;<%
=>3=%=>?%Q87F:;6?%>39%;7=%Q?8E78I?9%=>?%67;9:=:7;DR%
=>?% 97;78D% D7C9% =>?% C3;9% =7% A8S% ,38^DS% -7O% ,38^D%
DH?9%=7%8?67F?8%=>?%C3;9%E87I%=>?%Q87F:;6?S
%
%
`EOIG%,38^D%>3D%;7%8:<>=%=7%<?=%=>?%C3;9S%"=%:D%
=8H?%=>3=%=>?%97;3=:7;%O3D%#$1'&,6-$%L?63HD?%7E%L8?36>%
7E%=>?%67;9:=:7;DS%bH=%"(+*-%=>?%97;3=:7;%O3D%8?F7^?9R%
:=%8?I3:;?9%F3C:9R%3;9%>?;6?R%!:8:8%3;9%+:CC%>39%;7%
8:<>=%=7%D?CC%=>?%C3;9%=7%,38^DS%&;?%63;;7=%<:F?%O>3=%
>?%97?D%;7=%>3F?%7($0'%),+%a"')%('(%/,6$+?S%c>3=%
=>?%97;78D%D>7HC9%>3F?%97;?%!%8D=%O3D%=7%>3F?%=>?%97V
;3=:7;%3;;HCC?9S%5;9%3E=?8%=>3=%O3D%97;?R%=>?P%67HC9%
F3C:9CP%>3F?%9:DQ7D?9%7E%=>?%C3;9%:;%E3F78%7E%,38^DS
%
%
bH=%=>?8?%:D%'($%0'#$%!'*(+%=7%L?%3;DO?8?9S%*>?%
97;78D% 67;=?;9% =>3=% =>?% 67;9:=:7;% D?=% E78=>% Y% =>?%
/dK
%
58=S%//0/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
67;D=8H6=:7;% Y% O3D% :;% =>?% ;3=H8?% 7E% 3% DHDQ?;D:F?%
67;9:=:7;%7&'()*+*'(%!#$&$)$(+?=%=>3=%:DR%D:;6?%=>?%67;V
9:=:7;%;?F?8%>3QQ?;?9R%=>?8?%8?3CCP%O3D%;7%97;3=:7;R%
3;9%:E%=>?8?%O3D%;7%)'(,+*'(=%=>?8?%:D%;7%97;3=:7;%=7%
L?%3;;HCC?9S%+?;6?R%=>?%97;78D%:;D:D=%7;%=>?:8%8:<>=%
=7%D?CC%=>?%Q87Q?8=P%=7%,38^DS%58?%=>?%97;78D%6788?6=%
>?8?f
%
%
`EOIG% -7S% *>?% 67;9:=:7;% :IQ7D?9% O3D% ;7=% 3%
67;9:=:7;%Q8?6?9?;=S%"=%:D%('+%+#"$%=>3=%=>?%D6>77C>7HD?%
3;9%=>?%Q38^%>39%=7%L?%67;D=8H6=?9%L?E78?%=>?%97;3=:7;%
L?63I?% ?EE?6=:F?R% =>3=% :DR% L?E78?% =>?% Q87F:;6?% 67HC9%
L?67I?%=>?%7O;?8%7E%=>?%C3;9e%7=>?8O:D?R%:=%O7HC9%L?%
:;F39:;<% =>?% Q87Q?8=P% 8:<>=D% 7E% =>?% 97;78DS% +?;6?R%
=>?% 97;3=:7;% >39% =7% L?67I?% F3C:9% $1$(% 6$2'#$% =>?%
EHC!%CCI?;=%7E%=>?%67;9:=:7;S%+?;6?R%=>?%67;9:=:7;%:D%3%
#$4'-"+'#5%'($S%";3DIH6>%3D%3C=>7H<>%8?F763LC?R%=>?%
97;3=:7;%>39%;7=%P?=%L??;%8?F7^?9R%:=%E7CC7OD%=>3=%:;%
=>?%I?3;=:I?R%:=%:D%F3C:9%3;9R%=>?8?E78?R%=>?%D3C?%LP%
=>?%97;78D%=7%,38^D%:D%;7=%F3C:9S%+?;6?R%,38^D%>3D%;7%
8:<>=%=7%8?67F?8%=>?%Q87Q?8=PS
%
%
[8"+/'#\4%V'+$G%"=%:D%DHLI:==?9%=>3=%:=%:D%('+%&'#A
#$&+%=7%D3P%=>3=%7;?%>3D%=7%L?%!%8D=%=>?%7O;?8%7E%=>?%
C3;9%L?E78?%>?%63;%L?%3CC7O?9%=7%LH:C9%7;%:=S%&;?%63;%
F?8P%O?CC%97%D7%HQ7;%=>?%7O;?8_D%Q?8I:DD:7;R%3;9%:=%
:D%?F:9?;=%=>3=%:;%=>:D%63D?R%=>?%7O;?8D%2=>?%97;78D4%
O?8?%3C8?39P%<83;=:;<%Q?8I:DD:7;S\
X?Y& !)*6%(%)*#"&H04+0'(%)*&)+&#&!)*(4#'(
%
%
"E%=>?%Q?8E?6=:7;%7E%3%67;=836=%9?Q?;9D%HQ7;%=>?%EHC!%CCI?;=%
7E%3%67;9:=:7;R%;7;VEHC!%CCI?;=%=>?8?7E%I?3;D%=>?%('(A!$#2$&+*'(%
7E%=>?%67;=836=%D:;6?%=>?%DHDQ?;D:F?%67;9:=:7;%D>7HC9%>3F?%L??;%
!%8D=%EHC!%CC?9S%7X"!$#+'%19%b'4&,=%Q;%K/*-9%QQC?9
XBY& G)50&!#$0$&#*6&L)'(4%*0$
&
&
H#*.#*%-#*&12&N#(#*.#$&M4#*$2&!)2
X!272Y&F<&,2O2&BC<P
&
%
H8[WDG! *>?% b3=3;<3D% *83;DQ78=3=:7;% !7IQ3;P% L7H;9%
:=D?CE%=7%EH8;:D>%3%6?8=3:;%;HIL?8%7E%=8H6^D%!#'1*)$)%=>?P%O?8?%
/dM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//0/
3F3:C3LC?%7;%=>?%93P%;??9?9S%&;%D3:9%93P%;7%=8H6^%O3D%3F3:C3LC?S%
R44"$G%c3D%=>?%!7IQ3;P%L7H;9%D=:CC%=7%DHQQCP%=>?%=8H6^Df
%
%
`EOIG%*>?%!7IQ3;P%;?F?8%:;6H88?9%=>?%7LC:<3=:7;%D:;6?%
=>?%67;9:=:7;%9:9%;7=%I3=?8:3C:T?S
&
&
H#9")&7*.@&0(&#"2&12&b94()*&b%40&3*$94#*'0&!)2
:;C=E<?@&A9"2&BC@&CD<C
&
%
5%67;9:=:7;%67;=3:;?9%:;%3;%:;DH83;6?%Q7C:6P%=>3=%6C3:ID%
IHD=%L?%Q8?D?;=?9%O:=>:;%7;?%P?38%3E=?8%8?W?6=:7;%:D%('+%0$#$-5%
3% Q876?9H83C% 8?XH:8?I?;=R% LH=% :;% =>?% ;3=H8?% 7E% 3% 67;9:=:7;%
Q8?6?9?;=% =7% =>?% C:3L:C:=P% 7E% =>?% :;DH8?8R% 78% :;% 7=>?8% O789DR% 3%
8?D7CH=78P%6C3HD?R%=>?%QH8Q7D?%7E%O>:6>%:D%=7%=?8I:;3=?%3CC%C:V
3L:C:=:?D%:;%63D?%=>?%36=:7;%:D%;7=%!%C?9%LP%=>?%:;DH8?9%O:=>:;%=>?%
Q?8:79%D=:QHC3=?9S
&
&
:9a)*&G(0106)4%*.&!)48)4#(%)*&12&!3/
:;CPFCC@&CE<EC&#*6&CE<EB@&L0'2&BC@&CD<=
&
%
5%!>8:D=I3D%L7;HD%:D%-&*%3%9?I3;93LC?%3;9%?;E786?3LC?%
7LC:<3=:7;%H;C?DD%:=%:D%I39?%3%Q38=%7E%=>?%O3<?%78%D3C38P%78%67IV
Q?;D3=:7;%3;9%?F?;%=>?;%=>?%L7;HD%O7HC9%L?%!&-*"-h(-*R%
9?Q?;9?;=%7;%=>?%8?3C:T3=:7;%7E%Q87!%=DS%"E%=>?8?%L?%;7%Q87!%=DR%
=>?8?%O:CC%L?%;7%6'("49
&
&
N0*.$)*&12&!S#*
:;?P?EB@&A9"2&?D@&CDPP
&
%
H8[WDG!";%3%67;=836=%E78%=>?%67;D=8H6=:7;%7E%3%67;97I:;:HI%
LH:C9:;<R% :=% O3D% ?ZQ8?DDCP% 3<8??9% =>3=% D>7HC9% =>?8?% L?% 3;P%
9:DQH=?R%3%L7389%7E%38L:=83=78D%IHD=%!%8D=%L?%8?D78=?9%=7%L?E78?%
=3^:;<%3;P%WH9:6:3C%36=:7;S%*>?%7O;?8%O?;=%=7%67H8=%L?63HD?%=>?%
LH:C9:;<%O3D%;7=%!%;:D>?9%7;%=:I?R%LH=%=>?8?%O3D%;7%Q8:78%8?D78=%
=7%38L:=83=:7;S%R44"$G%c:CC%=>?%63D?%;7O%L?%9:DI:DD?9f
%
%
`EOIG%-7R%=>?%63D?%O:CC%;7=%L?%9:DI:DD?9R%3C=>7H<>%=>?8?%
O3D%;7%Q8:78%8?D78=%=7%38L:=83=:7;S%*>:D%:D%D7%L?63HD?%H;9?8%=>?%
58L:=83=:7;%$3O%2@5%0]N4R%:;%3%63D?%C:^?%=>:DR%O>3=%=>?%!7H8=%
D>7HC9%97%:D%=7%8?E?8%=>?%I3==?8%=7%=>?%38L:=83=78D%O>7%38?%DHQV
Q7D?9%=7%L?%D?C?6=?9%LP%=>?%Q38=:?DS
/d1
%
58=S%//0J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
:9a)*&G940(Q&!)2@&3*'2&12&c90-4#4
:;F><CP@&A#*2&BC@&CDEF
%
%
"E%3%D=3=H=?%8?XH:8?D%=>?%QH==:;<%HQ%7E%3%L7;9R%:=%:D%H;9?8V
D=779%=>3=%=>?%67;9:=:7;D%Q8?D68:L?9%LP%=>?%D=3=H=?%D>3CC%E78I%
Q38=%7E%=>?%L7;9%3<8??I?;=S
&
&
G#*&V%.90"&12&J"-%*%#$
:;FE?C>@&A#*2&BC@&CDEF
%
%
";%!%Z:;<%=>?%3I7H;=%7E%3%L7;9%E78%=>?%<83;=%7E%3%Q8?C:I:;38P%
:;WH;6=:7;R%=O7%E36=78D%=>3=%I3P%L?%67;D:9?8?9%38?%=>?%I38^?=%
F3CH?% 7E% =>?% Q87Q?8=PR% 3;9% =>?% Q7DD:LC?% 8?DHC=3;=% 93I3<?% :E%
:=% D>7HC9% =H8;% 7H=% =>3=% =>?% :;WH;6=:7;% D>7HC9% ;7=% >3F?% L??;%
<83;=?9S
&
74(2&CCE?2&ZS0*&(S0&+9"!&""50*(&)+&(S0&')*6%(%)*&6080*6$&
98)*& (S0& $)"0& R%""& )+& (S0& 60-()4@& (S0& ')*6%(%)*#"& )-"%.#(%)*&
$S#""&-0&1)%62&3+&%(&6080*6$&98)*&'S#*'0&)4&98)*&(S0&R%""&)+&
#&(S%46&804$)*@&(S0&)-"%.#(%)*&$S#""&(#T0&0++0'(&%*&')*+)45%(Q&
R%(S&(S0&84)1%$%)*$&)+&(S%$&!)602&
!,VVJKMW
XCY& H)(0$(#(%10@&!#$9#"@&V%`06&!)*6%(%)*$
%
%
*>:D%58=:6C?%9?3CD%O:=>%=>8??%L*()4%7E%67;9:=:7;DG
234% !'+$4+,+*1$%Y%9?Q?;9D%7;%=>?%$F&-"4*1$%O:CC%7E%7;?%7E%=>?%
Q38=:?DS%2*>:D%:D%3CD7%63CC?9%2,&"-+,+*1$%67;9:=:7;S4
2L4% &,4",-%]%9?Q?;9D%7;%6>3;6?%&@%HQ7;%=>?%O:CC%7E%3%+/*#)%
!$#4'(9%cEF,0!-$G%"E%"%O:;%:;%=>?%C7==7S%7d,-*)?e
X?Y& H)(0$(#(%10&Xb#'9"(#(%10Y&!)*6%(%)*
234% ,7=?D=3=:F?%7;%=>?%Q38=%7E%=>?%IEZWSXG
/4%
:E%3CD7%4"4!$(4*1$%]%L7=>%=>?%67;9:=:7;%3;9%=>?%7LC:<3V
=:7;%38?%#&"'R%E78%=>?%7LC:<3=:7;%:D%8?3CCP%:CCHD78PS
%
%
cEF,0!-$G%"_CC%<:F?%P7H%,/RUUURUUU%;?Z=%I7;=>%
:E%"%C:F?S%7<%T,(#$4,%:P:?9e
/dN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//0J
J4%
:E%3CD7%#$4'-"+'#5%Y%1,-*)
%
%
[EF,0!-$G%"_CC%?IQC7P%P7H%;7O%3D%IP%DHQ?8:;V
=?;9?;=% :;% =>?% E36=78PR% LH=% :=% :D% H;9?8D=779% =>3=% :E%
E78%,(5%#$,4'(%2:;6CH9:;<%IP%7O;%63;6?CC3=:7;%7E%=>?%
789?84%=>?%I36>:;?8P%O>:6>%"%789?8?9%E87I%=>?%i;:=?9%
.=3=?D%O:CC%;7=%388:F?R%=>?%?IQC7PI?;=%O:CC%?;9S%2W,5A
-'#%19%f"%W*$(J=%@P%K/*-9%<CP=%>?C9%=>3=%`3%67;9:=:7;%
L7=>%!'+$4+,+*1$%3;9%#$4'-"+'#5%I3P%L?%F3C:9%?F?;%:E%
=>?%67;9:=:7;%:D%I39?%=7%9?Q?;9%HQ7;%=>?%O:CC%7E%=>?%
7LC:<78Sa4\
%
%
[VSWEG% "=% :D% DHLI:==?9% =>3=% 3C=>7H<>% =>:D% :D%
:;9??9%3%#$4'-"+'#5%&'()*+*'(%2L?63HD?%=>?%789?8%O7HC9%
L?%?:=>?8%&,(&$--$)%78%;7=4R%D=:CC%:=%>3D%=>?%?EE?6=%7E%3%
#$4'-"+'#5%+$#0%2L?63HD?%=>?%?IQC7P??%>?8?%O7HC9%;7=%
L?%7LC:<?9%=7%#$+"#(%O3<?D%E78%O78^%3C8?39P%97;?4S\
2L4% ,7=?D=3=:F?%7;%=>?%Q38=%7E%=>?%[XEIRWSX%]%d8ORI
%
%
EF,0!-$G%`"_CC%<:F?%P7H%IP%E7H;=3:;%Q?;%:E%5'"%9?D:8?%
=7%>3F?%:=Sa%7D$$%<%T,(#$4,%:P@A:PB?9
XBY& c904Q
%
%
`"_CC%<:F?%P7H%,/RUUURUUU%:E%"%&,(%4$--%05%-,()9a%.HQQ7D?%"%
3I%3LC?%=7%D?CC%IP%C3;9R%3I%"%L7H;9%=7%<:F?%P7H%,/RUUURUUUf
%
%
8VD9G%"=%:D%DHLI:==?9%=>3=%=>?%3;DO?8%:D%fED9%c>:C?%,!A
!,#$(+-5=%=>:D%:D%3%Q7=?D=3=:F?%67;9:=:7;%2L?63HD?%"%I3P%78%"%I3P%
;7=%D?CC4%2D$$%S40$(,%19%X,0,=%:@%K/*-9%>>%]%O>:6>R%:;%3%D:I:C38%
63D?R%>?C9%=>3=%DH6>%3%D=:QHC3=:7;%:D%#&"'4R%D=:CC%:=%:D%('+%!"#$-5%
!'+$4+,+*1$% 23D% 9:D=:;<H:D>?9% E87I% =>?% 4*0!-5% !'+$4+,+*1$4% LH=%
8?3CCP%3%I:Z?9%7;?R%L?63HD?%=>?%D?CC:;<%O7HC9%9?Q?;9%;7=%7;CP%
7;%IP%9?D:8?%=7%D?CC%LH=%3CD7%7;%=>?%3F3:C3L:C:=P%3;9%O:CC:;<;?DD%
7E%=>?%LHP?8%3;9%7=>?8%6:86HID=3;6?D%DH6>%3D%!#*&$=%2#*$()4/*!=%
78%=>?%;?6?DD:=P%7E%=83;DE?88:;<%=7%3%9:EE?8?;=%?;F:87;I?;=S%7D$$%
`$#0'4'%19%O'(J,#,=%@>%S9N9%@Q<C=%S&+9%:>BP?9
XFY& !#$0$
&
&
G5%(S@&N0""&#*6&!)2&12&G)(0")&V#((%
FF&HS%"2&EPF
&
%
H8[WDG%8!D7C9%I?86>3;9:D?%=7%Z=%D3:9%I?86>3;9:D?%=7%L?%
9?C:F?8?9%:;%K%I7;=>DR%LH=%=>?%Q?8:79%7E%9?C:F?8P%O3D%;7=%<H38V
/d]
%
58=S%//0J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
3;=??9S%5C=>7H<>%8%=8:?9%>:D%L?D=%=7%EHC!%CC%>:D%67II:=I?;=D%7;%
=:I?R%D=:CC%=83;DQ78=3=:7;%3;9%<7F?8;I?;=%8?9%=3Q?%I39?%9?C:F?8P%
Q7DD:LC?%7;CP%,2+$#%=>8??%I7;=>DS%c>?8?HQ7;%Z%8?EHD?9%=7%366?Q=%
=>?%<779D%3;9%=7%Q3P%E78%=>?I%7;%=>?%<87H;9%=>3=%=>?%=?8I%>39%
('+%L??;%67IQC:?9%O:=>S
%
%
`EOIG%Z%D>7HC9%366?Q=%3;9%Q3PR%E78%=>?8?%O3D%8?3CCP%('%
+$#0%LH=%3%0*F$)%67;9:=:7;S%!7;D:9?8:;<%=>3=%8%>39%3C8?39P%=8:?9%
>:D%L?D=R%:=%:D%3D%:E%3CC%=>?%=?8ID%7E%=>?%67;=836=%>39%L??;%E3:=>V
EHCCP%67IQC:?9%O:=>R%E78%>?8?%=>?%EHC!%CCI?;=%7E%=>?%67;9:=:7;%9:9%
;7=%9?Q?;9%QH8?CP%7;%>:D%O:CC%LH=%7;%7=>?8DR%C:^?%=>?%D>:QQ:;<%
67IQ3;P%3;9%=>?%<7F?8;I?;=S%Z%D>7HC9%;7O%67IQCPS
&
&
A#'%*()&12&!S9#&:0*.
X!272Y&F=&,2O2&?DCD
%
%
H8[WDG%8%7O;?9%3%>7HD?%8?;=?9%LP%Z9%8%D7C9%=>?%>7HD?%
=7%[=%3;9%[%3<8??9%=7%Q3P%=>?%L3C3;6?%7E%=>?%Q8:6?%,4%4''(%,4%
Z%-$,1$4%+/$%!#$0*4$49%[%.,4%+'%+,L$%&,#$%'2%4$$*(J%+'%*+%+/,+%Z%
1,&,+$)%+/$%/'"4$9%8%;7O%D3PD%=>?%67;=836=%:D%F7:9%L?63HD?%:=%:D%
!'+$4+,+*1$%7;%[\4%Q38=S
%
%
`EOIG%*>?%67;=836=%:D%1,-*)S%"=%O3D%;7=%QH8?CP%Q7=?D=3=:F?%
7;%[\4%Q38=S
234% H*#4+-5%]%Z%I:<>=%F363=?%7E%>:D%7O;%366789R%3;9%[%O7HC9%
;7O%>3F?%=7%Q3P%2D7%=>?%EHC!%CCI?;=%8?3CCP%:;%Q38=%9?Q?;9?9%
7;%=>?%O:CC%7E%3%=>:89%Q38=P4S
2L4% D$&'()-5%]%"E%[%9:9%;7=%3D^%Z!=7%C?3F?R%8%67HC9%F?8P%O?CC%97%
D7%LP%3;%36=:7;%7E%H;C3OEHC%9?=3:;?8%3<3:;D=%Z9%5;9%O>?;%
Z%:D%7HD=?9R%[%O7HC9%>3F?%=7%Q3PS
%
%
*>?%67;9:=:7;%L?:;<%0*F$)R%=>?%67;=836=%:D%F3C:9S
&
&
M4%""#*#&12&c90a)*&!)""0.0$@&3*'2
DB&HS%"2&BEB
&
%
H8[WDG%I%QH86>3D?9%JUU%D>38?D%7E%D=76^%7E%=>?%jH?T7;%!7CV
C?<?DR%DHLW?6=%=7%=>?%67;9:=:7;%=>3=%D>?%O7HC9%!,5%E78%=>?%D3I?%
3D%D77;%3D%D>?%O7HC9%L?%3LC?%=7%>38F?D=%!%D>%E87I%>?8%!%D>Q7;9S%
R44"$G%"D%=>:D%67;9:=:7;%F3C:9f
/d0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%//0K
%
`EOIG% -7R% L?63HD?% =>:D% DHDQ?;D:F?% 67;9:=:7;% :D% QH8?CP%
Q7=?D=3=:F?%7;%>?8%Q38=S
&
74(2&CCEB2&358)$$%-"0&')*6%(%)*$@&(S)$0&')*(4#4Q&()&.))6&
'9$()5$&)4&89-"%'&8)"%'Q&#*6&(S)$0&84)S%-%(06&-Q&"#R&$S#""&
#**9"&(S0&)-"%.#(%)*&RS%'S&6080*6$&98)*&(S052&3+&(S0&)-"%.#;
(%)*&%$&6%1%$%-"0@&(S#(&8#4(&(S040)+&RS%'S&%$&*)(&#++0'(06&-Q&(S0&
%58)$$%-"0&)4&9*"#R+9"&')*6%(%)*&$S#""&-0&1#"%62
&
MS0&')*6%(%)*&*)(&()&6)&#*&%58)$$%-"0&(S%*.&$S#""&-0&')*;
$%60406&#$&*)(&S#1%*.&-00*&#.4006&98)*2&
!,VVJKMW
XCY& 358)$$%-"0&#*6&3""0.#"&!)*6%(%)*$
%
%
*>:D%58=:6C?%9?3CD%O:=>%=>?%?EE?6=%7E%*0!'44*6-$%3;9%*--$J,-%
67;9:=:7;DS
X?Y& !"#$$%!&'#(%)*
234% R0!'44*6-$%c!/54*&,--5%Y%=7%I3^?%3%9?39%I3;%C:F?e%Y%-'J*A
&,--5%Y%=7%I3^?%3%6:86C?%=>3=%:D%3=%=>?%D3I?%=:I?%3%DXH38?%
7*--'J*&,-%&'()*+*'(?e9
2L4% R--$J,-%[Q87>:L:=?9%LP%<779%6HD=7IDR%QHLC:6%Q7C:6Pe%Q87>:L:=V
?9R%9:8?6=CP%78%:;9:8?6=CPR%LP%C3OR%C:^?%^:CC:;<%^R%3%E8:?;9\S
XBY& J++0'($
234% "E%=>?%67;9:=:7;%*4%+'%)'%3;%*0!'44*6-$%78%*--$J,-%=>:;<R%b&*+%
=>?% 67;9:=:7;% 3;9% =>?% 7LC:<3=:7;% 38?% #&"'% 2L?63HD?% =>?%
9?L=78%^;7OD%=>3=%;7%EHC!%CCI?;=%63;%L?%97;?%3;9%=>?8?E78?%
:D%;7=%D?8:7HD%3L7H=%L?:;<%C:3LC?4S
%
%
EF,0!-$G%"_CC%D?CC%P7H%IP%C3;9%:E%P7H%63;%I3^?%3%9?39%
I3;%C:F?%3<3:;S
2L4% "E%=>?%67;9:=:7;%:D%-(h5*"#(R%=>3=%:DR%('+%=7%97%=>?%*0A
!'44*6-$=%WHD=%)*4#$J,#)%=>?%&'()*+*'(%bi*%=>?%7LC:<3=:7;%
8?I3:;DS
%
%
EF,0!-$G%"_CC%D?CC%P7H%IP%C3;9%:E%P7H%&,(('+%I3^?%3%
&*#&-$%=>3=%:D%3=%=>?%D3I?%=:I?%3%4a",#$9%2*>:D%L?67I?D%3%
/dd
%
58=S%//0K
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
QH8?%3;9%F3C:9%7LC:<3=:7;S%5D%3%I3==?8%7E%E36=R%=>?%67;9:=:7;%
>?8?%63;%3CO3PD%L?%EHC!%CC?9S4
264%
"E% =>?% 67;9:=:7;% :D% -(h5*"#(R% *9$9=% ('+% =7% 97% 3;% *--$J,-%
=>:;<R%6'+/%=>?%&'()*+*'(%3;9%=>?%'6-*J,+*'(%38?%#5$"'S
%
%
EF,0!-$G%"_CC%D?CC%P7H%IP%C3;9%:E%P7H%)'%('+%^:CC%^S%2*>:D%
:D%F3C:9S%"E%^%:D%^:CC?9%LP%P7HR%P7H%>3F?%;7%8:<>=%=7%LHP%IP%
C3;9S4
%
%
cVSWEG% *>?% ?Z3IQC?% <:F?;% 3L7F?% 3QQC:?D% 7;CP% =7%
7LC:<3=:7;D%3;9%67;=836=DR%;7=%=7%+$4+,0$(+,#5%)*4!'4*+*'(%
78%=7%)'(,+*'(4S%";%D3:9%63D?R%=>?%:IQ7DD:LC?%78%:CC?<3C%67;V
9:=:7;%:D%WHD=%9:D8?<389?9R%3;9%=>?%9:DQ7D:=:7;%78%97;3=:7;%
8?I3:;D%F3C:9S%7D$$%8#+49%<CP%,()%CQC=%[*1*-%[')$?Se
%
%
2VSWEG% *>:D% :D% L?63HD?% :;% D3:9% 63D?DR% :=% :D% 8?3CCP%
=>?%-*6$#,-*+5%7E%=>?%<:F?8%=>3=%:D%=>?%67;D:9?83=:7;%7E%=>?%
<:E=S4
XFY& G)50&!#$0$
&
&
&
G#*()$&12&G0'2&)+&7.4%'9"(940&#*6&K#(94#"
/0$)94'0$&#*6&L%40'()4&)+&:#*6$
DC&HS%"2&EB?
&
%
*>?% 9H=P% 7E% 3% DH66?DDEHC% L:99?8% =7% I3^?% 3% 67;D=8H6=:7;%
O:=>:;%7;?%3;9%7;?V>3CE%P?38D%E87I%=>?%3O389%:D%?Z=:;<H:D>?9R%
:E%L?63HD?%7E%=>?%67;!%D63=:7;%7E%>:D%I3=?8:3CD%LP%=>?%g3Q3;?D?%
38IPR%=>?%O78^%>3D%L?67I?%Q>PD:63CCP%:IQ7DD:LC?S
&
&
:9*0(#&V)()4&!)2&12&b0604%')&7-#6
<P&HS%"2&?B
%
%
H8[WDG%8%!%C?9%3%DH:=%3<3:;D=%ZR%3;9%3D^?9%E78%3%O8:=%=7%
3==36>%Z\4%Q87Q?8=:?DS%*>?%O8:=%O3D%<83;=?9R%LH=%Z%3D^?9%E78%:=D%
63;6?CC3=:7;R%3;9%E78%=>:D%QH8Q7D?%7EE?8?9%3%L7;9R%D?6H8?9%LP%=O7%
DH8?=:?DS%*>?%L7;9%67;=3:;?9%3%D=3=?I?;=%=>3=%:;%63D?%8%D>7HC9%
c"-R%=>?%DH8?=:?D%O7HC9%3;DO?8%E78%Z\4%C:3L:C:=PS%b?63HD?%7E%=>:D%
L7;9R%=>?%O8:=%O3D%9:DD7CF?9S%$3=?8R%8%C7D=%=>?%63D?R%:=%>3F:;<%
L??;%)*40*44$)S%R44"$G%58?%Z\4%DH8?=:?D%D=:CC%L7H;9f
%
%
`EOIG%-7%I78?R%L?63HD?%8%63;%;?F?8%O:;R%=>?%63D?%>3F:;<%
L??;%9:DI:DD?9S%*>?%67;9:=:7;%>3D%L?67I?%3%C?<3C%:IQ7DD:L:C:=PS
JUU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//0M
&
&
:%(()*@&0(&#"2&12&:9a)*&G940(Q@&3*'2
D>&HS%"2&PEB
&
%
H8[WDG!.?CC?8%7O;?9%3%Q:?6?%7E%C3;9%I78=<3<?9%=7%^S%$3;9%
O3D%D7C9%=7%LHP?8%7;%=>?%67;9:=:7;%=>3=%=>?%I78=<3<?%O7HC9%!%8D=%
L?% 63;6?CC?9S% .?CC?8R% >7O?F?8R% 67HC9% ;7=% >3F?% 67;=36=% O:=>% ^S%
R44"$G%"D%>?%D=:CC%L7H;9%=7%D?CCf
%
%
`EOIG%-7R%D:;6?%=>?%67;9:=:7;%>3D%L?67I?%:IQ7DD:LC?S
&
&
&
b%0"65#*d$&3*$94#*'0&!)2@&3*'2&12&V04'060$
e#4.#$&e6#2&60&G)*.')&#*6&(S0&!)94(&)+&7880#"$
:;?FEBB@&G08(2&?B@&CD<E
&
%
"E%D7I?%67;9:=:7;D%:;%3%67;=836=%38?%:IQ7DD:LC?%=7%67IQCP%
O:=>R%=>?%:;DH8?8%63;;7=%F3C:9CP%3DD?8=%3%L8?36>%7E%D3:9%67;9:V
=:7;DS
&
74(2& CCEF2& MS0& ')*6%(%)*& (S#(& $)50& 010*(& S#880*& #(& #&
60(045%*#(0&(%50&$S#""&0`(%*.9%$S&(S0&)-"%.#(%)*&#$&$))*&#$&
(S0&(%50&0`8%40$&)4&%+&%(&S#$&-0')50&%*69-%(#-"0&(S#(&(S0&010*(&
R%""&*)(&(#T0&8"#'02
!,VVJKMW
XCY& H)$%(%10&!)*6%(%)*$
%
%
*>:D%58=:6C?%9?3CD%O:=>%!'4*+*1$%67;9:=:7;DS
%
%
EF,0!-$G%"_CC%<:F?%P7H%IP%C3;9%:E%P7H%I388P%A38:3%^%=>:D%
P?38S%"E%LP%=>?%?;9%7E%=>?%P?38R%A38:3%^%:D%3C8?39P%9?39R%78%P7H%
>3F?%;7=%P?=%I388:?9%>?8R%=>?%7LC:<3=:7;%:D%?Z=:;<H:D>?9S
&
&
766%$)*&12&b0"%`
BE&HS%"2&F>F
&
%
H8[WDG%8%L7H<>=%Z\4%C3;9%7;%67;9:=:7;%=>3=%O:=>:;%3%6?8=3:;%
Q?8:79R%Z%O7HC9%7L=3:;%3%*788?;D%*:=C?S%Z%9:9%;7=%97%D7%O:=>:;%
=>?%D=:QHC3=?9%=?8IS
%
%
`EOIG%8%*4%#$-$,4$)%E87I%>:D%7LC:<3=:7;%=7%QH86>3D?S
JU/
%
58=S%//01
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X?Y& J++0'(&%+&H04%)6&)+&b9"!&""50*(&3$&K)(&b%`06
%
%
"E%=>?%Q?8:79%:D%;7=%!%Z?9%:;%=>?%67;=836=R%=>?%67H8=R%67;D:9?8V
:;<%=>?%Q38=:?D_%:;=?;=:7;DR%D>7HC9%9?=?8I:;?%O>3=%Q?8:79%O3D%
8?3CCP%:;=?;9?9S%7D$$%8#+9%::<B=%!,#9%Q=%[*1*-%[')$?9
&
&
V#4(%*&12&N)Q04)
==&HS%"2&P<>
&
%
H8[WDG%8%D7C9%Z%3%Q386?C%7E%C3;9%7;%67;9:=:7;%=>3=%=>?%Q8:6?%
O7HC9%L?%Q3:9%3D%D77;%3D%Z%>39%Q3:9%7EE%=>?%I78=<3<?%3;9%7=>?8%
9?L=D%7E%=>?%?D=3=?S%8%O3:=?9%E78%D7I?%=:I?R%LH=%D:;6?%Z%>39%;7=%
P?=%DH66??9?9%:;%Q3P:;<%7EE%=>?%9?L=D=%8%L87H<>=%3;%36=:7;%=7%
63;6?C%=>?%D3C?S
%
%
`EOIG%*>?%D3C?%O:CC%;7=%L?%63;6?CC?9S%*>?8?%O3D%;7%=:I?%
D=:QHC3=?9%>?8?R%3;9%L?D:9?DR%Z%O3D%=8P:;<%>:D%L?D=%=7%67IQCP%
O:=>%>:D%3<8??I?;=S%.7%Z%IHD=%L?%<:F?;%I78?%=:I?S
&
74(2&CCE=2&MS0&')*6%(%)*&(S#(&$)50&010*(&R%""&*)(&S#880*&
#(& #& 60(045%*#(0& (%50& $S#""& 40*604& (S0& )-"%.#(%)*& 0++0'(%10&
+4)5&(S0&5)50*(&(S0&(%50&%*6%'#(06&S#$&0"#8$06@&)4&%+&%(&S#$&
-0')50&01%60*(&(S#(&(S0&010*(&'#**)(&)''942
&
3+&*)&(%50&S#$&-00*&!&`06@&(S0&')*6%(%)*&$S#""&-0&600506&
+9"!&""06&#(&$9'S&(%50&#$&5#Q&S#10&84)-#-"Q&-00*&')*(058"#(06@&
-0#4%*.&%*&5%*6&(S0&*#(940&)+&(S0&)-"%.#(%)*2&
!,VVJKMW
XCY& K0.#(%10&!)*6%(%)*$
%
%
*>:D%58=:6C?%8?E?8D%=7%;?<3=:F?%67;9:=:7;DS
X?Y& J`#58"0
&
%
`"_CC%<:F?%P7H%,/RUUURUUU%:E%LP%&6=S%/R%JUU1%P7H%>3F?%;7=%P?=%
I388:?9%A38:3%^Sa%"E%LP%D3:9%93=?R%P7H%38?%;7=%P?=%I388:?9R%78%:E%
Q8:78%=>?8?=7R%A38:3%^%>39%9:?9R%=>?%7LC:<3=:7;%:D%?EE?6=:F?%Y%:;%
=>?%!%#4+%63D?R%E87I%&6=S%/R%JUU1e%3;9%:;%=>?%D?67;9%63D?R%E87I%
A38:3_D%9?3=>S
%
%
g"$#5G% .HQQ7D?% L?E78?% =>3=% 93=?R% P7H% L?67I?% 3% @7I3;%
!3=>7C:6%Q8:?D=R%:D%=>?%7LC:<3=:7;%?EE?6=:F?%7;%=>?%93=?%P7H%?;=?8?9%
JUJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//0N
=>?%Q8:?D=>779f%-7R%L?63HD?%D7I?%Q8:?D=DR%9?DQ:=?%8?C:<:7HD%F7ODR%
D=:CC%67;=836=%-$J,--5%1,-*)%I388:3<?DS
&
74(2&CCE<2&MS0&')*6%(%)*&$S#""&-0&600506&+9"!&""06&RS0*&
(S0&)-"%.)4&1)"9*(#4%"Q&84010*($&%($&+9"!&""50*(2
!,VVJKMW
XCY& /9"0& ZS0*& L0-()4& e)"9*(#4%"Q& H4010*($& b9"!&""50*(& )+&
(S0&!)*6%(%)*
%
%
*>:D%58=:6C?%9?3CD%O:=>%!&-.*@i!*"#(%&@%,@(.iA('%
)i$)"$$A(-*S%X$,4'(%2'#%+/$%8#+*&-$G%&;?%IHD=%;7=%Q87!%=%LP%
>:D%7O;%E3HC=S
X?Y& /0_9%$%(0$
234% #&$i-*5@"$B%I39?%Y%2(:=>?8%I3C:6:7HDCP%78%;7=R%=>?%
:;=?;=% =7% !#$1$(+% IHD=% L?% Q8?D?;=S4% 7<% T,(#$4,% :PC?9% 2"E%
97;?%F7CH;=38:CP%E78%3;7=>?8%QH8Q7D?R%=>:D%8?XH:D:=?%:D%;7=%
Q8?D?;=4S
2L4% 36=H3CCP%,@(#(-*.%Y%2";=?;=:7;%O:=>7H=%Q8?F?;=:7;R%78%
Q8?F?;=:7;%O:=>7H=%:;=?;=:7;%:D%;7=%DHE!%6:?;=S4%7<%T,(#$4,%
:P<?S%[bH=%*(+$(+*'(%3;9%!#$1$(+*'(%:;%=>?%?Z?86:D?%7E%3%-,.A
2"-%#*J/+%O:CC%;7=%8?;9?8%=>?%58=:6C?%3QQC:63LC?S%7P%D,-1,+%
P:;?S\
XBY& J`#58"0
%
%
8%Q87I:D?9%=7%D?CC%=7%Z%3%638%:E%[%67HC9%Q3DD%=>?%L38S%&;%
=>?%93P%7E%=>?%?Z3I:;3=:7;R%8%63HD?9%[%=7%L?%Q7:D7;?9%3;9%L?%
>7DQ:=3C:T?9S%8%:D%D=:CC%L7H;9%=7%D?CC%=>?%638S%2"ER%>7O?F?8R%:=%=H8;D%
7H=%=>3=%[%O3D%8?3CCP%9:DXH3C:!%?9%=7%=3^?%=>?%L38R%3D%O>?;%>?%
/,)%('+%!%(*4/$)%/*J/%4&/''-=%78%>39%=3^?;%>:D%!%8D=%P?38%C3O%:;%
=>?%Q87>:L:=?9%4!$&*,-%&-,44=%8%:D%;7=%L7H;9S4
XFY& !#$0$
&
&
:#-#Q0*&12&M#"%$#Q
=?&HS%"2&FF>
&
%
H8[WDG% 8% O3D% 3% /,&*$(),% 7O;?8% O>7% 67;=836=?9% =>?%
D?8F:6?D%7E%Z=%3%DH<38%6?;=83CR%=7%<8:;9%>:D%78\4?%DH<38%63;?S%)78%
JUK
%
58=S%//0N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=>:D%QH8Q7D?R%8%O3D%DHQQ7D?9%=7%3CC7O%Z%=7%67;D=8H6=%3%83:C8739%
=>87H<>% 8\4% /,&*$(),S% bH=% 8% 9:9% ;7=% <:F?% Q?8I:DD:7;% E78% =>?%
67;D=8H6=:7;S%B?=%>?%DH?9%Z%E78%E3:CH8?%=7%<8:;9%=>?%DH<38%63;?S%
R44"$G%.>7HC9%8\4%36=:7;%Q87DQ?8f
%
%
`EOIG%-7R%E78%>?%>39%F7CH;=38:CP%Q8?F?;=?9%67IQC:3;6?%
LP%E3:C:;<%=7%3CC7O%67;D=8H6=:7;S
&
&
e#"0*'%#&12&/b!
:;C>PFD@&7842&?=@&CD=E
%
%
H8[WDG%#3C?;6:3%L:9%E78%=>?%:;D=3CC3=:7;%7E%=>?%QCHIL:;<%
:;%3%<7F?8;I?;=%LH:C9:;<S%*>?%L:9%O3D%366?Q=?9R%3;9%#3C?;6:3%
O3D%3D^?9%=7%QH=%HQ%=>?%!$#2'#0,(&$%6'()9%#3C?;6:3%9:9%;7=%QH=%
HQ%=>?%L7;9%3;9%9:9%;7=%L?<:;%=>?%O78^S%c>?;%DH?9R%>:D%9?E?;D?%
O3D%=>3=%D:;6?%>?%9:9%;7=%QH=%HQ%=>?%L7;9R%=>?8?%O3D%('%67;=836=%
D:;6?%=>?%67;9:=:7;%O3D%;7=%67IQC:?9%O:=>S
%
%
`EOIG%#3C?;6:3%:D%C:3LC?S%H*#4+-5R%=>?%QH==:;<%HQ%7E%=>?%Q?8V
E78I3;6?%L7;9%O3D%('+%3%67;9:=:7;%L?E78?%>?%67HC9%L?%67IQ?CC?9%
=7%I3^?%=>?%:;D=3CC3=:7;R%3C=>7H<>%7E%67H8D?%:=%O3D%3%67;9:=:7;%
L?E78?%>?%67HC9%:;D:D=%7;%O78^:;<%3;9%7;%<?==:;<%Q3:9S%D$&'()-5R%
3DDHI:;<%=>3=%=>?%67;9:=:7;%O3D%:;9??9%67;9:=:7;3CR%:=%O3D%>?%
O>7%1'-"(+,#*-5%Q8?F?;=?9%:=D%EHC!%CCI?;=e%=>?8?E78?R%>?%63;%L?%
>?C9%C:3LC?S
&
&
V#*#&12&:9a)*&!)*$)"%6#(06&V%*0$&f&!)2
X!272Y&F>&,2O2&XF(S&G04%0$Y&C?D
%
%
H8[WDG%8%>:8?9%Z%=7%67;D=8H6=%3%8739%E78%>:I%HQ%=7%3%9?D:8?9%
C?;<=>S% bH=% O:=>7H=% WHD=:!%63=:7;R% 8% 789?8?9% =>?% 67;D=8H6=:7;%
D=7QQ?9%O>?;%>3CEV!%;:D>?9S%Z%3D^?9%E78%=>?%&'0!-$+$%!#*&$S%8%
8?EHD?9%7;%=>?%<87H;9%=>3=%=>?%Q87W?6=%O3D%7;CP%>3CEV!%;:D>?9S
%
%
`EOIG%8%D>7HC9%Q3P%:;%EHCCR%E78%:=%O3D%>?%O>7%F7CH;=38:CP%
Q8?F?;=?9%EHC!%CCI?;=%7E%=>?%67;9:=:7;%Y%=>?%67;D=8H6=:7;%7E%=>?%
?;=:8?%8739%Y%3;9%D7%:=%:D%3D%:E%=>?%O78^%>39%L??;%67IQC?=?9S
&
&
M#Q")4&12&g9&M%0*.&H%#)
FB&HS%"2&EPB
%
%
H8[WDG%8%?IQC7P?9%Z%E78%J%P?38D%H;C?DD%O:=>:;%N%I7;=>DR%
I36>:;?8P%3C8?39P%789?8?9%O7HC9%;7=R%E78%3;P%8?3D7;R%388:F?S%8%
JUM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//0]
63;6?CC?9%=>?%789?8R%D7%=>?%I36>:;?D%9:9%;7=%388:F?S%5=%=>?%?;9%7E%
D:Z%I7;=>D%Z%O3D%9:D6>38<?9S%Z%;7O%6C3:ID%D3C38P%E78%=>?%Q?8:79%
7E%=O7%P?38D%7;%=>?%<87H;9%=>3=%=>?%9?L=78%78?%>39%F7CH;=38:CP%
Q8?F?;=?9%67IQC:3;6?%O:=>%=>?%67;9:=:7;S
%
%
`EOIG%Z%>3D%;7%8:<>=S%H*#4+R%L?63HD?%=>?%67;9:=:7;%>?8?%:D%
#$4'-"+'#5%3;9%('+%4"4!$(4*1$h%4$&'()R%:=%O3D%?ZQ8?DDCP%3<8??9%
=>3=%=>?%E3:CH8?%=7%388:F?%67HC9%L?%E78%`3;P%8?3D7;Ra%:;6CH9:;<%
8\4% 7O;% 36=DS% &89:;38P% O789D% D>7HC9% L?% <:F?;% =>?:8% 789:;38P%
D:<;:!%63=:7;DR%H;C?DD%=>?%Q38=:?D%:;=?;9?9%7=>?8O:D?S
X=Y& 788"%'#-%"%(Q&)+&(S0&74(%'"0&()&/0$)"9()4Q&!)*6%(%)*$
%
%
5C=>7H<>%:;%<?;?83CR%58=S%//0N%3QQC:?D%7;CP%=7%3%DHDQ?;D:F?%
67;9:=:7;R%:=%I3P%4'0$+*0$4%3QQCP%=7%3%8?D7CH=78P%67;9:=:7;%3D%
:;%=>:D%63D?G
%
%
8%D7C9%C3;9%;7O%=7%Z%7;%67;9:=:7;%=>3=%Z%I388:?D%[%O:=>:;%
7;?%P?38R%7=>?8O:D?%Z%D>7HC9%#$+"#(%=>?%C3;9S%"E%8%^:CCD%[=%Z%97?D%
('+%>3F?%=7%8?=H8;%=>?%C3;9S%*>:D%:D%L?63HD?%8%:D%3=%E3HC=S%7D$$%
65%,(,-'J5%WD=%T,#&/%:C=%:>@:?9
&
74(2&CCEP2&MS0&0++0'($&)+&#&')*6%(%)*#"&)-"%.#(%)*&()&.%10@&
)*'0&(S0&')*6%(%)*&S#$&-00*&+9"!&""06@&$S#""&40(4)#'(&()&(S0&6#Q&
)+&(S0&')*$(%(9(%)*&)+&(S0&)-"%.#(%)*2&K0104(S0"0$$@&RS0*&(S0&
)-"%.#(%)*&%58)$0$&40'%84)'#"&840$(#(%)*$&98)*&(S0&8#4(%0$@&
(S0& +49%($& #*6& %*(040$($& 694%*.& (S0& 80*60*'Q& )+& (S0& ')*6%;
(%)*& $S#""& -0& 600506& ()& S#10& -00*& 59(9#""Q& ')580*$#(062&
3+& (S0& )-"%.#(%)*& %$& 9*%"#(04#"@& (S0& 60-()4& $S#""& #884)84%#(0&
(S0&+49%($&#*6&%*(040$($&40'0%106@&9*"0$$&+4)5&(S0&*#(940&#*6&
'%4'95$(#*'0$&)+&(S0&)-"%.#(%)*&%(&$S)9"6&-0&%*+04406&(S#(&(S0&
%*(0*(%)*&)+&(S0&804$)*&')*$(%(9(%*.&(S0&$#50&R#$&6%++040*(2
&
3*&)-"%.#(%)*$&()&6)&#*6&*)(&()&6)@&(S0&')94($&$S#""&60(04;
5%*0@&%*&0#'S&'#$0@&(S0&40(4)#'(%10&0++0'(&)+&(S0&')*6%(%)*&(S#(&
S#$&-00*&')58"%06&R%(S2
!,VVJKMW
XCY& J++0'($&)+&b9"!&""50*(&)+&G9$80*$%10&!)*6%(%)*$
%
%
*>?%7LC:<3=:7;%L?67I?D%$22$&+*1$S
%
%
)87I%O>3=%93Pf
JU1
%
58=S%//0]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
234% @(*@&5!*.%Y%23D%3%J$($#,-%#"-$4%=7%=>?%93P%=>?%7LC:<3V
=:7;%O3D%67;D=:=H=?9S
2L4% -7%#$+#',&+*1*+5%.*+/%#$2$#$(&$%'(-5%+'G
/4%
E8H:=D%78%:;=?8?D=DS%78#+9%::<C=%[*1*-%[')$?9
J4%
Q?8:79% 7E% Q8?D68:Q=:7;S% 7`$#0'4,% &,4$=% NX% OABQ;C=%
S&+9%QC=%:>BP?9%`$#?%=>?%Q?8:79%8H;D%E87I%=>?%93P%=>?%
67;9:=:7;%O3D%2"-!%--$)R%L?63HD?%:=%63;%L?%?;E786?9%7;CP%
E87I%D3:9%93=?S
X?Y& J`#58"0$&)+&/0(4)#'(%10&J++0'($
&
%
g7D?%:;%JUUM%Q87I:D?9%=7%D?CC%=7%A38:3%>:D%C3;9%Q87F:9?9%
A38:3%Q3DD?D%=>?%L38%:;%JUUNS%A38:3%Q3DD?9%=>?%L38%:;%JUUNS
234% "=%:D%3D%:E%A38:3%O3D%?;=:=C?9%=7%=>?%C3;9%6$J*((*(J%QUU@9
2L4% *>?8?E78?%Y
/4%
3;P% )'(,+*'(% 78% 0'#+J,J$% I39?% LP% A38:3% :;% JUUM%
2L?E78?%Q3DD:;<4%O:CC%L?%67;D:9?8?9%F3C:9S%2i;9?8%=>?%
C3O%7E%97;3=:7;DR%EH=H8?%Q87Q?8=P%63;;7=%3D%3%8HC?%L?%
97;3=?9R% LH=% :;3DIH6>% 3D% A38:3% :D% ?;=:=C?9% =7% =>?%
C3;9%?EE?6=:F?%JUUMR%:=%E7CC7OD%=>3=%=>?%!#'!$#+5%&,(A
('+%L?%67;D:9?8?9%3%2"+"#$%'($S%*>?%D3I?%:D%=8H?%O:=>%
8?<389%=7%3%I78=<3<?R%E78%H;9?8%=>?%C3OR%=>?%I78=V
<3<78%IHD=%L?%=>?%7O;?84S%2*>?D?%38?%36=D%!$()$(+$%
&'()*+*'(,$S4
J4%
3;P%3C:?;3=:7;%7;%=>?%C3;9%I39?%LP%g7D?%7!$()$(+$%
&'()*+*'(,$?%D>7HC9%,4%,%#"-$%L?%67;D:9?8?9%*(1,-*)9
%
[VSWEG% *>:D% 8?=8736=:F?% ?EE?6=% 63;% 3QQCP% 7;CP% =7%
!&-.(-.i5$%67;=836=D%2C:^?%4,-$4R%3;9%('+%=7%#$,-%
67;=836=D% 2DH6>% 3D% 9?Q7D:=% 78% &'00'),+"04R% O>:6>%
38?%Q?8E?6=?9%7;CP%HQ7;%9?C:F?8PS\
XBY& K)&/0(4)#'(%10&J++0'($&#$&()&b49%($&#*6&3*(040$($
234% ";%"(*-,+$#,-%7LC:<3=:7;DR%9?L=78%<?=D%=>?%E8H:=D%3;9%:;=?8V
?D=D%H;C?DD%=>?8?%:D%3%67;=838P%:;=?;=S
%
%
EF,0!-$G%";%JUU1R%8%Q87I:D?9%=7%<:F?%Z%>:D%78\4?%C3;9%
:E% Z% Q3DD?D% =>?% L38% :;% JUUNS% "E% =>?% 67;9:=:7;% :D% EHC!%CC?9R%
JUN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//00
97?D%8%3CD7%<:F?%=>?%E8H:=D%E78%=>?%Q?8:79%7E%7;?%P?38f%-&R%
LP%?ZQ8?DD%Q87F:D:7;%7E%=>?%C3O%H;C?DD%=>?8?%:D%3%67;=838P%
:;=?;=S
2L4% ";%#$&*!#'&,-%7LC:<3=:7;DR%=>?%E8H:=D%3;9%:;=?8?D=D%9H8:;<%=>?%
Q?;9?;6P%7E%=>?%67;9:=:7;%D>3CC%2E78%=>?%QH8Q7D?%7E%67;F?;V
:?;6?%3;9%Q836=:63C%?EE?6=:F?;?DD4%L?%9??I?9%=7%67IQ?;D3=?%
?36>%7=>?8%2?F?;%=>7H<>%=>?P%8?3CCP%L?%H;?XH3C4S
%
EF,0!-$G%";%/dddR%8%3<8??9%=7%D?CC%Z%>:D%C3;9%3;9%Z%3<8??9%
=7%Q3P%:E%[%Q3DD?D%=>?%L38%7E%JUUNS%[%Q3DD?9S%8%IHD=%;7O%
<:F?%=>?%C3;9R%3;9%Z%IHD=%Q3PS%*>?%E8H:=D%7E%=>?%C3;9%E78%
=>?% 7;?VP?38% Q?8:79% O:CC% 8?I3:;% O:=>% 8=% *9$9=% 8% 97?D% ;7=%
>3F?%=7%<:F?%D3:9%E8H:=DS%iQ7;%=>?%7=>?8%>3;9R%Z%O:CC%^??Q%
=>?%Nk%C?<3C%:;=?8?D=%7;%>:D%I7;?PS%*>:D%:D%=8H?%?F?;%:E%=>?%
:;=?8?D=D%L?%<8?3=?8%78%C?DD?8%=>3;%=>?%E8H:=DS
XFY& G')80&)+&[b49%($]
&
%
`)8H:=Da%>?8?%8?E?8%=7%;3=H83CR%:;9HD=8:3CR%3;9%6:F:C%E8H:=D%
2C:^?%8?;=4S%7D$$%8#+9%@@Q=%[*1*-%[')$?9
&
74(2&CCEE2&MS0&'406%()4&5#Q@&-0+)40&(S0&+9"!&""50*(&)+&(S0&
')*6%(%)*@&-4%*.&(S0&#884)84%#(0&#'(%)*$&+)4&(S0&840$041#(%)*&
)+&S%$&4%.S(2
&
MS0&60-()4&5#Q&40')104&RS#(&694%*.&(S0&$#50&(%50&S0&
S#$&8#%6&-Q&5%$(#T0&%*&'#$0&)+&#&$9$80*$%10&')*6%(%)*2&
!,VVJKMW
XCY& b%4$(&H#4#.4#8S&X7'(%)*$&()&H40$0410&!406%()4d$&/%.S($Y
234% X$,4'(G%"E%;7=%3CC7O?9%=7%=3^?%=>?%3QQ87Q8:3=?%36=:7;DR%=>?8?%
:D%3%93;<?8%=>?%68?9:=78%O:CC%8?6?:F?%;7=>:;<R%3D%O>?;%=>?%
7LW?6=%:D%9?C:L?83=?CP%)$4+#'5$)=%78%/*))$(=%78%,-*$(,+$)9
2L4% iZ#*(J% ,!!#'!#*,+$% ,&+*'(49j% 566789:;<% =7% gHD=:6?% gSbS$S%
@?P?DR%=>:D%I?3;D%=7%4"$%:;%67H8=S%+?%D3PD%`=3^?%3QQ87Q8:3=?%
36=:7;a%O7HC9%L?%3%L?==?8%Q>83D?R%D:;6?%=>:D%O7HC9%:;6CH9?%
;7=%7;CP%DH:=D%:;%67H8=R%LH=%3CD7%DH6>%8?I?9:?D%3D%8?6789V
:;<%27E%=>?%?ZQ?6=?9%8:<>=4%O:=>%=>?%@?<:D=?8%7E%'??9DS%7D$$%
O,.5$#4\%Y'"#(,-=%Y,(9%P:=%:>B:=%!9%@C?9
JU]
%
58=S%//00
%
264%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&=>?8%3QQ87Q8:3=?%36=:7;DG
/4%
3D^% E78% 4$&"#*+5% :E% =>?% 9?L=78% :D% 3L7H=% =7% L?% :;D7CV
F?;=S
J4%
3D^% =>?% 67H8=% =7% Q8?F?;=% 3C:?;3=:7;% 78% 67;6?3CI?;=%
!$()$(+$%&'()*+*'(,$9
iK#$4$#1,+*'(Gj%-7=?%=>3=%=>?%C3O%D3PD%`Q8?D?8F3=:7;Ra%;7=%
i!#$2$#$(&$j% 7F?8% 7=>?8% 68?9:=78S% 7Y,&*(+'% 19% )$% O$'(=% B:%
K/*-9%>>Q?9
&
&
HS%"2&:)*.&L%$(#*'0&M0"08S)*0&!)2&12&A0(94%#*
:;PP=<@&A9"2&B>@&CD==
&
%
H8[WDG!*>?%,>:CS%$7;<%':D=3;6?%*?C?Q>7;?%!7S%7Q?83=?9%
3%Q?;D:7;%QC3;%Q8:78%=7%=>?%C3D=%,36:!%6%c38R%O>?8?LPR%DHLW?6=%=7%
6?8=3:;%67;9:=:7;D%2DH6>%3D%3<?%3;9%C?;<=>%7E%D?8F:6?4R%?IQC7P??D%
O>7%8?=:8?%O7HC9%L?%<:F?;%Q?;D:7;DS%5E=?8%=>?%O38R%=>?%QC3;%O3D%
3L7C:D>?9%L?63HD?%7E%C7DD?D%DHD=3:;?9%9H8:;<%=>?%g3Q3;?D?%76V
6HQ3=:7;S
%
%
RDD_EDG
234% ,?;9:;<%EHC!%CCI?;=%7E%=>?%67;9:=:7;D%2DH6>%3D%=>?%?IQC7PV
??_D%D?8F:6?4R%97%=>?%?IQC7P??D%>3F?%3;P%8:<>=%O:=>%8?DQ?6=%
=7%=>?%Q?;D:7;%QC3;f
2L4% c7HC9%!%;3;6:3C%C7DD?D%9H8:;<%=>?%O38%3H=>78:T?%3L7C:=:7;%
7E%=>?%QC3;f
%
`EOIG
234% ,?;9:;<%EHC!%CCI?;=%7E%=>?%67;9:=:7;DR%=>?%?IQC7P??D%>3F?%
3%#*J/+%*(%$F!$&+,(&5R%O>:6>%=>?%C3O%Q87=?6=DS%+?;6?R%H;9?8%
58=S%//00R%3QQ87Q8:3=?%36=:7;D%I3P%L?%=3^?;%LP%=>?IS
2L4% ):;3;6:3C% C7DD?D% O:CC% ('+% $F&"4$% 3L7C:=:7;% 7E% =>?% Q?;D:7;%
QC3;%L?63HD?%=>?%7LC:<3=:7;%=7%Q3P%I7;?P%:D%3;%7LC:<3=:7;%
=7%<:F?%3%h(-(@"!%=>:;<S
X?Y& G0')*6&H#4#.4#8S&X/%.S(&)+&L0-()4&()&/0')104&ZS#(&Z#$&
H#%6&-Q&V%$(#T0Y
234% X$,4'(G%c>3=%O3D%Q3:9%LP%I:D=3^?%I3P%L?%8?67F?8?9%L?V
63HD?R%3E=?8%3CCR%=>?%67;9:=:7;%I3P%;7=%I3=?8:3C:T?S%";%=>?%
I?3;=:I?R%=>?%9?L=78%>3D%C7D=%=>?%HD?%7E%=>?%7LW?6=S%"=%:D%
JU0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//0d
H;E3:8%E78%=>?%68?9:=78%=7%H;WHD=CP%?;8:6>%>:ID?CES%*>:D%:D%3%
63D?%7E%DSO_WRS%RVIEZRWR%2H;9H?%Q3PI?;=4S%*>?%9?L=78%
:D%3CD7%$(+*+-$)%=7%E8H:=D%78%C?<3C%:;=?8?D=%:E%=>?%68?9:=78%L?%
:;%b5'%)5"*+R%=>3=%:DR%:E%=>?%68?9:=78%^;?O%=>3=%Q3PI?;=%
O3D%L?:;<%I39?%Q8:78%=7%=>?%EHC!%CCI?;=%7E%=>?%67;9:=:7;S
2L4% "E%Q3PI?;=%O3D%;7=%LP%`I:D=3^?a%2=>3=%:DR%:=%O3D%97;?%9?V
C:L?83=?CP4R%63;%=>?8?%L?%8?67F?8Pf
%
8VD9G%"=%9?Q?;9DG
/4%
"E% =>?% 67;9:=:7;% :D% EHC!%CC?9R% ;7% 8?67F?8P% L?63HD?% 7E%
#$+#',&+*1*+5%23C8?39P%9:D6HDD?94S
J4%
"E%=>?%67;9:=:7;%:D%;7=%2"-!%--$)R%=>?8?%D>7HC9%L?%3%8?V
67F?8P%2E78%=>:D%O7HC9%L?%H;WHD=%?;8:6>I?;=4%H;C?DD%
3%QH8?%97;3=:7;%O3D%:;=?;9?9S
&
74(2&CCED2&ZS0*&(S0&')*6%(%)*$&S#10&-00*&%58)$06&R%(S&
(S0& %*(0*(%)*& )+& $9$80*6%*.& (S0& 0+!&'#'Q& )+& #*& )-"%.#(%)*&
()&.%10@&(S0&+)"")R%*.&49"0$&$S#""&-0&)-$04106&%*&'#$0&)+&(S0&
%584)1050*(@& ")$$& )4& 60(04%)4#(%)*& )+& (S0& (S%*.& 694%*.& (S0&
80*60*'Q&)+&(S0&')*6%(%)*W
&
XCY& 3+&(S0&(S%*.&%$&")$(&R%(S)9(&(S0&+#9"(&)+&(S0&60-()4@&
(S0&)-"%.#(%)*&$S#""&-0&0`(%*.9%$S06h
&
X?Y& 3+&(S0&(S%*.&%$&")$(&(S4)9.S&(S0&+#9"(&)+&(S0&60-()4@&
S0&$S#""&-0&)-"%.06&()&8#Q&6#5#.0$h&%(&%$&9*604$())6&(S#(&(S0&
(S%*.& %$& ")$(& RS0*& %(& 804%$S0$@& )4& .)0$& )9(& )+& ')5504'0@& )4&
6%$#880#4$&%*&$9'S&#&R#Q&(S#(&%($&0`%$(0*'0&%$&9*T*)R*&)4&%(&
'#**)(&-0&40')10406h
&
XBY& ZS0*&(S0&(S%*.&60(04%)4#(0$&R%(S)9(&(S0&+#9"(&)+&(S0&
60-()4@&(S0&%58#%450*(&%$&()&-0&-)4*0&-Q&(S0&'406%()4h
&
XFY& 3+& %(& 60(04%)4#(0$& (S4)9.S& (S0& +#9"(& )+& (S0& 60-()4@&
(S0&'406%()4&5#Q&'S))$0&-0(R00*&(S0&40$'%$$%)*&)+&(S0&)-"%.#;
(%)*&#*6&%($&+9"!&""50*(@&R%(S&%*605*%(Q&+)4&6#5#.0$&%*&0%(S04&
'#$0h
&
X=Y& 3+&(S0&(S%*.&%$&%584)106&-Q&%($&*#(940@&)4&-Q&(%50@&(S0&
%584)1050*(&$S#""&%*940&()&(S0&-0*0!&(&)+&(S0&'406%()4h
&
X<Y& 3+&%(&%$&%584)106&#(&(S0&0`80*$0&)+&(S0&60-()4@&S0&$S#""&
S#10&*)&)(S04&4%.S(&(S#*&(S#(&.4#*(06&()&(S0&9$9+49'(9#4Q2&
improvement
JUd
%
58=S%//0d
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& :)$$@&L0(04%)4#(%)*@&#*6&3584)1050*(&L94%*.&(S0&H0*;
60*'Q&)+&!)*6%(%)*
234% *>?%58=:6C?%3QQC:?D%7;CP%:EG
/4%
=>?%DHDQ?;D:F?%67;9:=:7;%:D%2"-!%--$)h%3;9
J4%
=>?%7LW?6=%:D%DQ?6:!%6%2;7=%<?;?8:64S
2L4% c>3=%38?%=>?%=>8??%=>:;<D%=>3=%I3P%>3QQ?;%=7%=>?%7LW?6=%
7E% 3;% 7LC:<3=:7;% Q?;9:;<% =>?% EHC!%CCI?;=% 7E% 3% DHDQ?;D:F?%
67;9:=:7;f
%
8VD9G%*>?%7LW?6=G
/4%
I3P%L?%C7D=
J4%
I3P%9?=?8:783=?%2F3CH?%:D%8?9H6?9%78%:IQ3:8?94
K4%
I3P%L?%:IQ87F?9
%
*>?%7LW?6=%I3P%L?%-'4+G
34%
O:=>7H=%=>?%E3HC=%7E%=>?%9?L=78
L4%
O:=>%E3HC=%7E%=>?%9?L=78
64%
Q38=CP%O:=>%3;9%Q38=CP%O:=>7H=%=>?%E3HC=%7E%=>?%
9?L=78
%
*>?%7LW?6=%I3P%)$+$#*'#,+$G
34%
O:=>7H=%=>?%E3HC=%7E%=>?%9?L=78
L4%
O:=>%=>?%E3HC=%7E%=>?%9?L=78
64%
Q38=CP%O:=>%3;9%Q38=CP%O:=>7H=%=>?%E3HC=%7E%=>?%
9?L=78
%
*>?%7LW?6=%I3P%*0!#'1$G
34%
LP%;3=H8?%78%LP%=:I?
L4%
=>87H<>%=>?%?ZQ?;D?%7E%=>?%9?L=78
64%
Q38=CP%=>87H<>%;3=H8?%78%=:I?%3;9%Q38=CP%LP%=>?%
9?L=78
%
%
2VSWEG%b?63HD?%7E%=>?D?%F38P:;<%6:86HIV
D=3;6?DR%=>?%!79?%>3D%9??I?9%:=%Q87Q?8%=7%?;H;V
6:3=?%D?F?83C%8HC?D%=>?8?7;R%>?;6?R%=>?%?Z:D=?;6?%
7E%58=S%//0dS4
J/U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//0d
X?Y& [:)$$]&L0!&*06
&
%
"=%:D%H;9?8D=779%=>3=%=>?%=>:;<%:D%C7D=G
234% ./$(%*+%!$#*4/$4%23D%O>?;%3%>7HD?%:D%LH8;=%=7%3D>?D4
2L4% ./$(%*+%J'$4%'"+%'2%&'00$#&$%23D%O>?;%=>?%7LW?6=%>?8?=7E78?%
H;Q87>:L:=?9%L?67I?D%Q87>:L:=?94
264%
./$(%*+%)*4,!!$,#4%*(%4"&/%,%.,5%+/,+%*+4%$F*4+$(&$%*4%"(A
L('.(%23D%O>?;%3%Q38=:6HC38%638%>3D%L??;%I:DD:;<%E78%D7I?%
=:I?4
294% ./$(%*+%)*4,!!$,#4%*(%4"&/%,%.,5%+/,+%*+%&,(('+%6$%#$&'1$#$)%
23D%O>?;%3%Q38=:6HC38%9:3I7;9%8:;<%:D%987QQ?9%:;%=>?%I:9V
9C?%7E%=>?%,36:!%6%&6?3;4S%78#+9%::<>=%!,#9%Q=%[*1*-%[')$?9
XBY& J++0'($&)+&H#4(%#"&:)$$
&
%
"=%I3P%L?%Q38=:3C%C7DDG
234% =>3=%O7HC9%,0'"(+%=7%3%C7DD%:IQ78=3;=%?;7H<>%=7%L?%67;D:9V
?8?9%3%&'0!-$+$%-'44%2=>:D%O:CC%L?%9?=?8I:;?9%LP%=>?%67H8=D4S%
78#+9%:Q;P=%[*1*-%[')$?9
2L4% =>3=% O7HC9% I?8?CP% L?% 67;D:9?8?9% 3% )$+$#*'#,+*'(% 7E% =>?%
=>:;<R%:;%O>:6>%63D?%=>?%8HC?D%7;%)$+$#*'#,+*'(%D>7HC9%3QV
QCPS
XFY& 3""9$(4#(%10&H4)-"05$
234% 8% Q87I:D?9% =7% <:F?% Z% >:D% 638% :E% Z% Q3DD?D% =>?% L38S% ,?;9V
:;<%=>?%8?DHC=D%7E%=>?%L38%?Z3IDR%=>?%638%:D%9?D=87P?9%LP%
3%E78=H:=7HD%?F?;=R%O:=>7H=%3;P%E3HC=%3=%3CC%7;%=>?%Q38=%7E%
=>?%9?L=78S%c>?;%Z%Q3DD?D%=>?%L38R%97?D%8%>3F?%=7%<:F?%Z%
3;P=>:;<f
%
%
8VD9G%-7R%8%97?D%;7=%>3F?%=7%<:F?%Z%3;P=>:;<S%`"E%=>?%
=>:;<%:D%C7D=%O:=>7H=%=>?%E3HC=%7E%=>?%9?L=78R%=>?%7LC:<3=:7;%
D>3CC%L?%?Z=:;<H:D>?9Sa%7:4+%!,#9=%8#+9%::<>=%[*1*-%[')$?9%*>?%
8?3D7;%:D%=>3=%3D%3%<?;?83C%8HC?R%;7%7;?%D>7HC9%L?%C:3LC?%
E78%3%E78=H:=7HD%?F?;=%H;C?DD%7=>?8O:D?%Q87F:9?9%LP%C3O%78%
67;=836=S
2L4% 8%Q87I:D?9%=7%<:F?%Z%,/RUUURUUU%:E%Z%Q3DD?D%=>?%L38S%,?;9V
:;<%=>?%8?DHC=D%7E%=>?%L38R%8\4%I7;?P%:D%9?D=87P?9%LP%!%8?R%
J//
%
58=S%//0d
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
;7=%:IQH=3LC?%=7%89%c>?;%Z%Q3DD?D%=>?%L38R%97?D%8%D=:CC%
>3F?%=7%<:F?%>:I%,/RUUURUUUf
%
%
8VD9G%B?DR%L?63HD?%=>?%I7;?P%>?8?%:D%<?;?8:6S%`";%3;%
7LC:<3=:7;% =7% 9?C:F?8% 3% <?;?8:6% =>:;<% =>?% C7DD% 78% 9?D=8H6V
=:7;%7E%3;P=>:;<%7E%=>?%D3I?%^:;9%97?D%;7=%?Z=:;<H:D>%=>?%
7LC:<3=:7;Sa%78#+9%:Q;P=%[*1*-%[')$?9%*>?%8?3D7;%:D%iN$("4%
("(a",0%!$#"*+j%]%iJ$("4%($1$#%!$#*4/$49j
264%
.HQQ7D?%=>?%C7DD%766H88?9%=>87H<>%=>?%E3HC=%7E%=>?%9?L=78R%
:D%=>?%9?L=78%C:3LC?f
%
%
8VD9G%B?DS%`"E%=>?%=>:;<%:D%C7D=%=>87H<>%=>?%E3HC=%7E%
=>?%9?L=78R%>?%D>3CC%L?%7LC:<?9%=7%Q3P%93I3<?DSa%78#+9%::<>=%
!,#9%Q=%[*1*-%[')$?9
294% .HQQ7D?%Q?;9:;<%=>?%EHC!%CCI?;=%7E%=>?%DHDQ?;D:F?%67;9:V
=:7;R%=>?%7LW?6=R%D3P%3%Q38=:6HC38%638R%9?=?8:783=?D%.*+/'"+%
=>?%E3HC=%7E%=>?%9?L=78R%:D%=>?%9?L=78%L7H;9%=7%I3^?%HQ%E78%
=>?%9?Q8?6:3=:7;R%78%D>7HC9%=>?%68?9:=78%L?38%=>?%9?=?8:783V
=:7;%DHEE?8?9f
%
%
8VD9G%";%DH6>%3%63D?R%=>?%68?9:=78%O:CC%>3F?%=7%DHEE?8%
=>?% 9?=?8:783=:7;% 78% :IQ3:8I?;=S% *>?% C3O% D3PDG% `c>?;%
=>?%=>:;<%9?=?8:783=?D%O:=>7H=%=>?%E3HC=%7E%=>?%9?L=78R%=>?%
:IQ3:8I?;=%:D%=7%L?%L78;?%LP%=>?%68?9:=78Sa%78#+9%::<>=%!,#9%
P=%[*1*-%[')$?9
2?4% .HQQ7D?%=>?%=>:;<%9?=?8:783=?D%=>87H<>%=>?%E3HC=%7E%9?L=V
78f
%
8VD9G%*>?%68?9:=78%>?8?%I3P%6>77D?%L?=O??;G
/4%
X$4&*44*'(%278%63;6?CC3=:7;%7E%=>?%3<8??I?;=%78%7LC:<3V
=:7;4R%!-"4%93I3<?De
J4%
S#%2"-!%--0$(+%7E%=>?%7LC:<3=:7;%2?F?;%:E%=>?8?%>3D%L??;%
9?=?8:783=:7;4%!-"4%93I3<?DS%78#+9%::<>=%!,#9%@=%[*1*-%
[')$?9
2E4%
.HQQ7D?%=>?%=>:;<%:D%:IQ87F?9%LP%;3=H8?%78%LP%=:I?R%O>7%
<?=D%=>?%L?;?!%=%7E%=>?%:IQ87F?I?;=f
%
%
8VD9G%*>?%68?9:=78%<?=D%=>?%L?;?!%=S%`"E%=>?%=>:;<%:D%
:IQ87F?9%LP%:=D%;3=H8?%78%LP%=:I?R%=>?%:IQ87F?I?;=%D>3CC%
:;H8?%2<74%=7%=>?%L?;?!%=%7E%=>?%68?9:=78Sa%78#+9%::<>=%!,#9%B=%
J/J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//dU
[*1*-%[')$?9%*>?%8?3D7;%E78%=>:D%:D%=7%67IQ?;D3=?%=>?%68?9:V
=78%O>7%O7HC9%DHEE?8%:;%63D?R%:;D=?39%7E%:IQ87F?I?;=R%=>?8?%
O7HC9%L?%9?=?8:783=:7;%O:=>7H=%=>?%E3HC=%7E%=>?%9?L=78S
2<4% .HQQ7D?%=>?%=>:;<%>3D%:IQ87F?9R%;7=%=>87H<>%=:I?%78%LP%
:=D%;3=H8?%LH=%=>87H<>%=>?%?ZQ?;D?%7E%=>?%9?L=78R%O>3=%O:CC%
L?%=>?%8:<>=D%7E%D3:9%9?L=78f
%
%
8VD9G%*>?%9?L=78%O:CC%>3F?%=>?%8:<>=D%<83;=?9%=7%3%
HDHE8H6=H38P%E78%:IQ87F?I?;=D%7;%3%=>:;<%>?C9%:;%HDHE8H6=S%
2iDHE8H6=%:D%=>?%8:<>=%=7%=>?%?;W7PI?;=%7E%=>?%"4$%3;9%=>?%
2#"*+4%7E%3%=>:;<S4%*>?D?%8:<>=D%<83;=?9%=7%=>?%HDHE8H6=H38P%
O:=>%8?E?8?;6?%=7%:IQ87F?I?;=D%I3P%L?%E7H;9%:;%58=S%1]d%7E%
=>?%!:F:C%!79?R%O>:6>%8?39D%3D%E7CC7ODG%`*>?%HDHE8H6=H38P%
I3P%I3^?%7;%=>?%Q87Q?8=P%>?C9%:;%HDHE8H6=%DH6>%HD?EHC%:IV
Q87F?I?;=D%78%?ZQ?;D?D%E78%I?8?%QC?3DH8?%3D%>?%I3P%9??I%
Q87Q?8R%Q87F:9?9%>?%97?D%;7=%3C=?8%:=D%E78I%78%DHLD=3;6?e%
LH=%>?%D>3CC%;7=%>3F?%=>?%8:<>=%=7%L?%:;9?I;:!%?9%=>?8?E78S%
+?%I3PR%>7O?F?8R%8?I7F?%DH6>%:IQ87F?I?;=DR%D>7HC9%:=%
L?%Q7DD:LC?%=7%97%D7%O:=>7H=%93I3<?%=7%=>?%Q87Q?8=PSa%";%
7=>?8%O789DR%>?%:D%;7=%?;=:=C?9%=7%8?:ILH8D?I?;=%LH=%>?%
I3P%8?I7F?%=>?%:IQ87F?I?;=D%Q87F:9?9%>?%97?D%;7=R%LP%
97:;<%D7R%93I3<?%=>?%Q87Q?8=PS%`+?%I3P%>7O?F?8%D?=%7EE%=>?%
:IQ87F?I?;=D%>?%I3P%>3F?%I39?%7;%=>?%Q87Q?8=P%3<3:;D=%
3;P%93I3<?%=7%=>?%D3I?Sa%78#+9%B<U=%[*1*-%[')$?9
2>4% .HQQ7D?% =>?% :IQ87F?I?;=% :D% 9H?% Q38=CP% =7% =>?% ?ZQ?;D?D%
I39?%LP%=>?%9?L=78%3;9%Q38=CP%9H?%=7%:=D%;3=H8?%78%LP%=:I?R%
O>7%<?=D%=>?%L?;?!%=f
%
%
8VD9G%*>?%68?9:=78%<?=D%=>?%L?;?!%=%7E%=>?%:IQ87F?V
I?;=%7E%=>?%=>:;<%LP%:=D%;3=H8?%78%LP%=:I?R%LH=%=>?%9?L=78%
:D%?;=:=C?9%=7%=>?%8:<>=D%7E%3%HDHE8H6=H38P%7F?8%HD?EHC%:IV
Q87F?I?;=D%=>3=%I3P%>3F?%L??;%63HD?9%3=%>:D%?ZQ?;D?S
%
%
2VSWEG%*>?%DHLW?6=%7E%HDHE8H6=%:D%=8?3=?9%:;%9?=3:C%:;%
=>?%DHLW?6=%`,87Q?8=PSa4
&
74(2&CCD>2&ZS0*&(S0&')*6%(%)*$&S#10&+)4&(S0%4&8948)$0&(S0&
0`(%*.9%$S50*(&)+&#*&)-"%.#(%)*&()&.%10@&(S0&8#4(%0$@&98)*&(S0&
+9"!&""50*(&)+&$#%6&')*6%(%)*$@&$S#""&40(94*&()&0#'S&)(S04&RS#(&
(S0Q&S#10&40'0%1062
J/K
%
58=S%//dU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
3*&'#$0&)+&(S0&")$$@&60(04%)4#(%)*&)4&%584)1050*(&)+&(S0&
(S%*.@&(S0&84)1%$%)*$&RS%'S@&R%(S&40$80'(&()&(S0&60-()4@&#40&
"#%6&6)R*&%*&(S0&840'06%*.&#4(%'"0&$S#""&-0&#88"%06&()&(S0&8#4(Q&
RS)&%$&-)9*6&()&40(94*2
&
7$&+)4&)-"%.#(%)*$&()&6)&#*6&*)(&()&6)@&(S0&84)1%$%)*$&)+&
(S0& $0')*6& 8#4#.4#8S& )+& 74(%'"0& CCEP& $S#""& -0& )-$04106& #$&
40.#46$&(S0&0++0'(&)+&(S0&0`(%*.9%$S50*(&)+&(S0&)-"%.#(%)*2
!,VVJKMW
XCY& J++0'($&ZS0*&/0$)"9()4Q&!)*6%(%)*&3$&b9"!&""06
234% *>?%7LC:<3=:7;%:D%?Z=:;<H:D>?9S%78#+9%::<:=%[*1*-%[')$?9
2L4% b?63HD?%=>?%7LC:<3=:7;%>39%L??;%?Z=:;<H:D>?9%3;9%67;D:9V
?8?9%=7%>3F?%>39%;7%?EE?6=R%=>?%Q38=:?D%D>7HC9%8?D=78?%=7%
?36>%7=>?8%O>3=%=>?P%>3F?%8?6?:F?9S
264%
5D:9?%E87I%=>?%36=H3C%=>:;<D%8?6?:F?9R%=>?%E8H:=D%78%=>?%:;V
=?8?D=D%=>?8?7;%D>7HC9%3CD7%L?%8?=H8;?9%3E=?8%9?9H6=:;<%7E%
67H8D?%=>?%?ZQ?;D?D%I39?%E78%=>?:8%Q879H6=:7;R%<3=>?8:;<R%
3;9%Q8?D?8F3=:7;S%78#+9%@@P=%[*1*-%[')$?9
294% *>?%8HC?D%<:F?;%:;%58=S%//0d%O:CC%3QQCP%=7%O>7?F?8%>3D%=>?%
9H=P%=7%8?=H8;%:;%63D?%7E%=>?%C7DDR%9?=?8:783=:7;R%78%:IQ87F?V
I?;=%7E%=>?%=>:;<S
2?4% *>?%67H8=D%38?%<:F?;%Q7O?8%=7%9?=?8I:;?%=>?%8?=8736=:F:=P%
7E%=>?%EHC!%CCI?;=%7E%8?D7CH=78P%67;9:=:7;DS
X?Y& H4)-"05$
234% 8%<3F?%Z%3%Q386?C%7E%C3;9%7;%=>?%67;9:=:7;%=>3=%Z%O:CC%;?F?8%
<7%=7%=>?%63D:;7S%5%I7;=>%C3=?8R%Z%O?;=%=7%=>?%63D:;7S%c>3=%
>3QQ?;D%=7%8\4%7LC:<3=:7;f
%
%
8VD9G%8\4%7LC:<3=:7;%:D%?Z=:;<H:D>?9R%3;9%=>?8?E78?%:=%
:D%3D%:E%=>?8?%;?F?8%O3D%3;%7LC:<3=:7;%3=%3CCS%Z%O:CC%=>?8?E78?%
>3F?%=7%8?=H8;%L7=>%=>?%C3;9%3;9%=>?%E8H:=D%>?%>39%8?6?:F?9%
=>?8?E87I%E87I%=>?%I7I?;=%8%>39%<:F?;%>:I%=>?%C3;9S
2L4% .HQQ7D?% :;% =>?% I?3;=:I?R% =>?% C3;9% >39% L??;% :IQ87F?9%
=>87H<>% :=D% ;3=H8?% 78% LP% =:I?R% O>7% L?;?!%=D% E87I% DH6>%
:IQ87F?I?;=Df
J/M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%//d/
%
8VD9G%8%<?=D%=>?%L?;?!%=%L?63HD?%>?%:D%;7O%=>?%68?9:=78%
O:=>%8?DQ?6=%=7%=>?%8?67F?8P%7E%=>?%C3;9S%78#+9%::<>=%!,#9%B=%
[*1*-%[')$?9
&
74(2&CCDC2&MS0&8)R04&()&40$'%*6&)-"%.#(%)*$&%$&%58"%06&%*&
40'%84)'#"&)*0$@&%*&'#$0&)*0&)+&(S0&)-"%.)4$&$S)9"6&*)(&')58"Q&
R%(S&RS#(&%$&%*'95-0*(&98)*&S%52
&
MS0&%*U9406&8#4(Q&5#Q&'S))$0&-0(R00*&(S0&+9"!&""50*(&#*6&
(S0&40$'%$$%)*&)+&(S0&)-"%.#(%)*@&R%(S&(S0&8#Q50*(&)+&6#5#.0$&
%*&0%(S04&'#$02&\0&5#Q&#"$)&$00T&40$'%$$%)*@&010*&#+(04&S0&S#$&
'S)$0*&+9"!&""50*(@&%+&(S0&"#((04&$S)9"6&-0')50&%58)$$%-"02
&
MS0& ')94(& $S#""& 60'400& (S0& 40$'%$$%)*& '"#%506@& 9*"0$$&
(S040&-0&U9$(&'#9$0&#9(S)4%a%*.&(S0&!&`%*.&)+&#&804%)62
&
MS%$&%$&9*604$())6&()&-0&R%(S)9(&840U96%'0&()&(S0&4%.S($&
)+&(S%46&804$)*$&RS)&S#10&#'_9%406&(S0&(S%*.@&%*&#'')46#*'0&
R%(S&74(%'"0$&CBE=&#*6&CBEE&#*6&(S0&V)4(.#.0&:#R2
!,VVJKMW
XCY& /%.S(&()&/0$'%*6
%
%
`*>?%Q7O?8%=7%#$4&*()=a%3D%HD?9%:;%=>:D%58=:6C?R%I?3;D%=>?%
8:<>=%=7%&,(&$-%278%#$4'-1$4%=>?%67;=836=%78%#$&*!#'&,-%'6-*J,+*'(4%
:;%63D?%7E%;7;VEHC!%CCI?;=%7;%=>?%Q38=%7E%7;?S%*>HDR%=>?%`8?D6:DV
D:7;a%8?E?88?9%=7%>?8?%:D%;7=%Q8?9:63=?9%7;%:;WH8P%=7%?67;7I:6%
:;=?8?D=D%7;%=>?%Q38=%7E%=>?%Q38=P%QC3:;=:EE%2O>:6>%:D%=>?%L3D:D%E78%
=>?%8?D6:DD:7;%I?;=:7;?9%:;%8#+49%:P<U%,()%:P<:=%[*1*-%[')$4R%
LH=% 7;% =>?% 6#$,&/% '2% 2,*+/% LP% =>?% 9?E?;93;=R% O>:6>% L8?36>% :D%
F:7C3=:F?%7E%=>?%8?6:Q876:=P%L?=O??;%=>?%Q38=:?DS%7_(*1$#4,-%H'')%
['#!'#,+*'(%19%['"#+%'2%8!!$,-4=%OAQ>:BB=%T,5%:P=%:>CU?9
&
&
G8)9$0$&V#4%#*)&i2&e0"#460&f&710"%*#&L2
e0"#460&12&!7@&L#1%6&72&/#Q59*6)@&f&
O0)4.0&/#Q59*6)&
O/&C>EBF<@&A9"2&CC@&?>>C
%
%
H8[WDG%,?=:=:7;?8D%E3:C?9%=7%67IQCP%O:=>%=>?:8%7LC:<3=:7;%
=7%Q3P%=>?%L3C3;6?%7E%=>?%QH86>3D?%Q8:6?%=7%Q8:F3=?%8?DQ7;9?;=DS%
J/1
%
58=S%//d/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
R44"$G%b?63HD?%7E%=>?%E3:CH8?R%O?8?%Q8:F3=?%8?DQ7;9?;=D%6788?6=%
:;%F3C:9CP%?Z?86:D:;<%=>?:8%8:<>=%=7%8?D6:;9%=>?%67;=836=f
%
%
`EOIG% B?DS% ";9HL:=3LCPR% Q?=:=:7;?8D% F:7C3=?9% =>?% F?8P%
?DD?;6?% 7E% 8?6:Q876:=P% :;% =>?% 67;=836=% 7E% D3C?R% 3% F:7C3=:7;% =>3=%
67;D?XH?;=CP%<3F?%8:D?%=7%Q8:F3=?%8?DQ7;9?;=D_%8:<>=%=7%8?D6:;9%
=>?%D3I?%:;%3667893;6?%O:=>%C3OS%.=3=?9%:;%3;7=>?8%I793C:=PR%3%
DHLD=3;=:3C%L8?36>%7E%3%8?6:Q8763C%7LC:<3=:7;R%C:^?%E3:CH8?%=7%Q3P%
=>?%Q8:6?%:;%=>?%I3;;?8%Q8?D68:L?9%LP%=>?%67;=836=R%?;=:=C?D%=>?%
:;WH8?9%Q38=P%=7%8?D6:;9%=>?%7LC:<3=:7;S%@?D6:DD:7;%3L87<3=?D%=>?%
67;=83D=%E87I%:=D%:;6?Q=:7;%3;9%8?XH:8?D%3%IH=H3C%8?D=:=H=:7;%7E%
L?;?!%=D%8?6?:F?9S
%
%
@?D6:DD:7;%68?3=?D%=>?%7LC:<3=:7;%=7%8?=H8;%=>?%7LW?6=%7E%=>?%
67;=836=S%"=%63;%L?%6388:?9%7H=%7;CP%O>?;%=>?%7;?%O>7%9?I3;9D%
8?D6:DD:7;%63;%8?=H8;%O>3=?F?8%>?%I3P%L?%7LC:<?9%=7%8?D=78?S%7['9%
19%[8=%P:Q%D[X8%BQ<%c:>>>e?S%*7%8?D6:;9%:D%=7%9?6C38?%3%67;=836=%
F7:9%3=%:=D%:;6?Q=:7;%3;9%=7%QH=%3;%?;9%=7%:=%3D%=>7H<>%:=%;?F?8%
O3DS% "=% :D% ;7=% I?8?CP% =7% =?8I:;3=?% :=% 3;9% 8?C?3D?% =>?% Q38=:?D%
E87I%EH8=>?8%7LC:<3=:7;D%=7%?36>%7=>?8R%LH=%=7%3L87<3=?%:=%E87I%
=>?%L?<:;;:;<%3;9%8?D=78?%=>?%Q38=:?D%=7%=>?:8%8?C3=:F?%Q7D:=:7;D%
3D%:E%;7%67;=836=%>3D%L??;%I39?S%7S&,0!'%19%[8=%QPP%D[X8%BB:%
c:>>@e?9
X?Y& /0'%84)'#"&,-"%.#(%)*$
&
%
*>:D%58=:6C?%:;%DQ?3^:;<%7E%`8?6:Q8763C%7;?Da%8?E?8D%7;CP%=7%#$A
&*!#'&,-%'6-*J,+*'(4=%=>3=%:DR%=7%7LC:<3=:7;D%O>?8?%=O7%Q38=:?D%38?%
8?6:Q8763CCP%7LC:<?9%=7%97%78%<:F?%D7I?=>:;<S%7EF,0!-$G%67;=836=%
7E%4,-$?9%"=%:D%;7=%?;7H<>%=>3=%L7=>%Q38=:?D%38?%:;9?L=?9%=7%?36>%
7=>?8S%*>?%63HD?%IHD=%L?%"'(-*"!5$%3;9%=>?%7LC:<3=:7;D%D>7HC9%
38:D?%D:IHC=3;?7HDCPS%7D$$%<%T,(#$4,%QBB?S%,38?;=>?=:63CCPR%:;%
8?6:Q8763C%67;=836=D%78%=83;D36=:7;DR%=>?%7LC:<3=:7;%78%Q87I:D?%
7E%?36>%Q38=P%:D%=>?%&,"4$%78%&'(4*)$#,+*'(%E78%=>?%7LC:<3=:7;%78%
Q87I:D?%7E%=>?%7=>?8S%7d),9%)$%g"*#*('%19%K,-,#&,=%OAQ<Q;>=%8"J9%
:B=%:>;>?9
&
&
7$8)*&G%5)*&12&76#5)$
:;BDBPE@&79.2&?E@&CDEF
%
%
";%3;%36=:7;%=7%8?D6:;9%78%E78%DQ?6:!%6%Q?8E78I3;6?R%=>?%C3==?8%
O3D%<83;=?9R%LH=%=>?%D3I?%C3=?8%L?63I?%:IQ7DD:LC?%2:;%F:?O%7E%
J/N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d/
=>?%63;6?CC3=:7;%7E%6?8=3:;%=:=C?D4S%A3P%=>?%8?I?9P%7E%8?D6:DD:7;%
D=:CC%L?%<83;=?9f%B?DR%H;9?8%58=S%//d/%7E%=>?%!:F:C%!79?R%D:;6?%
DQ?6:!%6%Q?8E78I3;6?%>3D%;7O%L?67I?%:IQ7DD:LC?%Y%L?63HD?%=>?%
=:=C?D%7E%=>?%C7=D%2E78I?8CP%:;%=>?%;3I?%7E%=>?%9?E?;93;=D4%>3F?%
3C8?39P%L??;%;HCC:!%?9%78%63;6?CC?9R%D7%=>3=%9?E?;93;=D%63;%;7%
C7;<?8%9?C:F?8%=>?:8%7O;?8D>:Q%=7%QC3:;=:EEDS
&
&
&
LV/!&J*(0484%$0&12&J$(0&60"&G)"&
V)9*(#%*&/0$0410
O/&=PDB<@&G08(2&?<@&CDEF
&
%
"E%3%C?DD??%3<8??D%O:=>%>:D%C?DD78%=7%Q3P%8?;=%Q38=CP%:;%678V
Q783=?%D>38?DR%:=%:D%=>?%8?<HC38%67H8=D%2;7=%=>?%.?6H8:=:?D%3;9%
(Z6>3;<?%!7II:DD:7;4%=>3=%>3D%WH8:D9:6=:7;%7F?8%3%67IQC3:;=%
E78% DQ?6:!%6% Q?8E78I3;6?% 3;9% 9?C:F?8P% 7E% Q?8D7;3C% Q87Q?8=PS%
*>?8?%:D%;7%:;=83V678Q783=?%67;=87F?8DPS%*>?%I?8?%E36=%=>3=%=>?%
C?DD78%3CD7%O3;=D%=7%L?%8?<389?9%3D%3%D=76^>7C9?8%:D%:II3=?8:3CS%
";%E36=R%=>:D%9?D:8?%I?8?CP%:;9:63=?D%=>3=%=>?%C?DD78%:D%('+%P?=%3%
D=76^>7C9?8S
XBY& J`#58"0$
234% ";%3%67;=836=%7E%D3C?R%=>?%LHP?8%63;%8?D6:;9%:E%=>?%D?CC?8%97?D%
;7=%9?C:F?8R%78%=>?%D?CC?8%63;%8?D6:;9%:E%=>?%LHP?8%97?D%;7=%
Q3PS%2*>:D%:D%3CC%8:<>=%E78%=>:D%:D%3%8?6:Q8763C%7LC:<3=:7;S4
2L4% 8%L7887O?9%,/RUUURUUU%E87I%Z%3D%3%C73;S%8=%7;%=>?%7=>?8%
>3;9R%:D%=>?%7O;?8%7E%3%<383<?%O>?8?%Z%)$!'4*+4%2E78%D3E?V
^??Q:;<4%>:D%638S%Z%7O?D%8%,/RUUURUUU%E78%9?Q7D:=%2$$4S%"D%
=>:D%3%8?6:Q8763C%7LC:<3=:7;f%-7S%5C=>7H<>%=>?P%38?%0"+",--5%
L7H;9R%=>?%63HD?%97?D%;7=%38:D?%E87I%=>?%D3I?%67;=836=S%&;?%
:D%=>?%67;=836=%7E%C73;e%=>?%7=>?8%:D%=>?%67;=836=%7E%9?Q7D:=S%
*>?%Q3PI?;=%7E%,/RUUURUUU%3D%3%C73;%97?D%;7=%9?Q?;9%7;%
=>?%Q3PI?;=%7E%,/RUUURUUU%3D%9?Q7D:=%E??DS
%
%
2VSWEG%";%=>?%3L7F?%63D?%7E%9?Q7D:=R%O>:6>%:;6:9?;V
=3CCP%:DR%LP%*+4$-2R%3%8?6:Q8763C%7LC:<3=:7;R%=>?%)"+5%+'%!,5%
)$!'4*+%2$$4%>3D%:=D%8?6:Q8763C%67H;=?8Q38=%:;%=>?%)"+5%+'%
4,2$-5%L$$!%=>?%638S4
J/]
%
58=S%//d/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
&
7$(94%#$&G9.#4&!0*(4#"&12&
H940&!#*0&V)"#$$0$&!)2
<>&HS%"2&?==
&
%
H8[WDG%8!D7C9%=7%Z%D7I?%Q87Q?8=:?DS%"=%O3D%3<8??9%=>3=%
Z=% =>?% LHP?8R% D>7HC9% =3^?% 638?% 7E% Q?8E?6=:;<% O:=>:;% N% I7;=>D%
=>?%=:=C?%Q3Q?8D%=7%=>?%Q87Q?8=PS%*>:D%9H=P%Z%O3D%;7=%3LC?%=7%97S%
R44"$G%'?DQ:=?%=>?%E36=%=>3=%Z%>3D%3C8?39P%Q3:9%=>?%Q8:6?R%I3P%
8R%=>?%D?CC?8R%8?D7CF?%=>?%67;=836=%7;%=>?%<87H;9%=>3=%Z%>39%;7=%
67IQC:?9%O:=>%=>?%7LC:<3=:7;%8?E?88?9%=7%3L7F?f
%
%
`EOIG%-7S%";%3%63D?%7E%D3C?R%=>?%6788?DQ7;9:;<%9H=:?D%38?G%
E78%=>?%4$--$#%+'%)$-*1$#R%3;9%E78%=>?%6"5$#%+'%!,5S%+?8?%=>?%LHP?8%
>3D%Q3:9S%*>?8?E78?R%=>?%4$--$#%&,(('+%#$4'-1$%WHD=%L?63HD?%=>?%
=:=C?%Q3Q?8D%>39%;7=%P?=%L??;%Q?8E?6=?9S%+39%=>?%LHP?8%;7=%P?=%
Q3:9R%:=%O7HC9%>3F?%L??;%3%9:EE?8?;=%D=78PS%7D$$%,-4'%Z'##'0$'%
19%H#,(&'=%B%K/*-9%@>?9
&
&
7-#Q#&12&G(#*6#46&e#'995&,%"&!)2
:;D=CC@&79.2&B>@&CD=P
%
%
"E%=>?%Q38=:?D%?;=?8%:;=7%3;%3<8??I?;=%=>3=%=>?%QC3:;=:EE%O:CC%
L?%3QQ7:;=?9%3D%7Q?83=78%7E%3%<3D7C:;?%D=3=:7;R%Q87F:9?9%=>3=%>?%
D:<;D%3;%7Q?83=78_D%3<8??I?;=%8?XH:8:;<%>:I%=7%QH86>3D?%/1URUUU%
C:=?8D%7E%<3D7C:;?%I7;=>CP%E87I%=>?%9?E?;93;=R%LH=%=>?%QC3:;=:EE%
8?EHD?D%=7%D:<;%D3:9%3<8??I?;=R%=>?%9?E?;93;=%:D%3LD7CF?9%E87I%
:=D%7LC:<3=:7;S%*>?%8?3D7;%:D%D:IQC?S%";%8?6:Q8763C%7LC:<3=:7;DR%
=>?%Q?8E78I3;6?%7E%7;?%:D%67;9:=:7;?9%7;%=>?%D:IHC=3;?7HD%EHCV
!%CCI?;=%7E%=>?%7=>?8S
&
&
&
&
&
%
H8[WDG%5%CHIL?8%67IQ3;P%DH?9%=7%67CC?6=%3%6?8=3:;%3I7H;=%
E87I%3%6HD=7I?8%3D%Q3PI?;=%E78%CHIL?8%QH86>3D?9%7;%68?9:=S%
*>?%!)"%2;7O%@*!4%9?6:9?9%:;%E3F78%7E%=>?%CHIL?8%67IQ3;PR%LH=%
=>?%!5%8?F?8D?9%=>?%!)"%2@*!4%7;%=>?%<87H;9%=>3=%=>?%)$-*1$#5%
7E%=>?%CHIL?8%>39%;7=%L??;%Q87F?9S%"=%:D%;7O%67;=?;9?9%LP%=>?%
CHIL?8%67IQ3;P%=>3=%=>?%!5%D>7HC9%;7=%>3F?%=7H6>?9%7;%=>?%
*44"$% '2% )$-*1$#5=% L?63HD?% =>?% :DDH?% =7H6>?9% HQ7;% LP% =>?% !)"%
2@*!4%O3D%=>?%:DDH?%7E%./$+/$#%'#%('+%!,50$(+%/,)%6$$(%0,)$9%
R44"$G%.>7HC9%=>?%:DDH?%7E%9?C:F?8P%L?%=7H6>?9%HQ7;f
H%)&N#440()&G)*$@&3*'2&12&!)58#*%#&V#4%(%5#
:;??B=E@&A#*2&?D@&CDP=
J/0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d/
%
%
`EOIG%B?DR%=>?%:DDH?%7E%9?C:F?8P%D>7HC9%L?%=7H6>?9%HQ7;%
L?63HD?%)$-*1$#5%3;9%!,50$(+%:;%3%67;=836=%7E%D3C?%38?%D7%:;=?8V
8?C3=?9% =>3=% :;% =>?% 3LD?;6?% 7E% 9?C:F?8P% 7E% =>?% <779DR% =>?8?% :D%
<?;?83CCP%;7%6788?DQ7;9:;<%7LC:<3=:7;%P?=%E78%=>?%LHP?8%=7%Q3PS%
7D$$%8#+9%:@B<=%!,#9%:=%[*1*-%[')$?9
&
&
G#*(%#.)&12&O)*a#"0$
:;B<<?P@&,'(2&?>@&CDPP
&
%
H8[WDG%*>?%LH:C9:;<%67;=836=78%:;%3%67;D=8H6=:7;%67;=836=R%
;7=%>3F:;<%L??;%Q3:9%Q87Q?8CP%E78%=>?%O78^R%9?6:9?9%=7%D=7Q%=>?%
67;D=8H6=:7;%3;9%=7%63;6?C%78%8?D6:;9%=>?%67;=836=S%5D%3%8?DHC=%7E%
=>?%8?D6:DD:7;R%L7=>%Q38=:?D%3<8??9%=7%DHLI:=%=>?%9:DQH=?%=7%3;%
58L:=83=:7;%b7389S%5E=?8%=>?%;?6?DD38P%>?38:;<%3;9%8?6?Q=:7;%7E%
?F:9?;6?R%=>?%b7389%3O389?9%;?38CP%,1URUUU%=7%=>?%67;=836=78%
3D%=>?%Q8:6?%D=:CC%7O:;<%>:IS%-7=%D3=:D!%?9%O:=>%=>?%38L:=83C%F?8V
9:6=R%=>?%7O;?8%O?;=%=7%=>?%!)"%2@*!4R%O>:6>R%O:=>7H=%8?6?:F:;<%
3;P%399:=:7;3C%?F:9?;6?R%8?;9?8?9%3%9?6:D:7;%D=3=:;<%=>3=%=>?%
38L:=83C%3O389%O3D%Q87Q?8S%*>?%7O;?8%=>?;%!%C?9%3%I7=:7;%E78%
8?67;D:9?83=:7;%LH=%E3:C?9%=7%:;9:63=?%:;%O>3=%O3P%=>?%WH9<I?;=%
67;=83F?;?9%?:=>?8%=>?%C3O%78%=>?%?F:9?;6?S%R44"$G%.>7HC9%=>?%
F?89:6=%7E%=>?%=8:3C%67H8=%L?%DHD=3:;?9f
%
%
`EOIG%B?DR%L?63HD?%=>?%7O;?8%>39%DHE!%6:?;=%7QQ78=H;:=P%
=7%Q8?D?;=%>:D%D:9?%L?E78?%=>?%9HCP%67;D=:=H=?9%58L:=83=:7;%b7389S%
&=>?8O:D?%D=3=?9R%=>?8?%O3D%;7%9?;:3C%7E%9H?%Q876?DDS
&
&
!0*(4#"&N#*T&12&!7
O/&F=PC>@&,'(2&B@&CDE=
%
%
*>?%L7887O?8_D%Q87I:D?%=7%Q3P%:D%=>?%67;D:9?83=:7;%E78%=>?%
7LC:<3=:7;% 7E% 3% C?;9?8VL3;^% =7% EH8;:D>% =>?% 3I7H;=% L?:;<% L78V
87O?9S%c>?;%=>?%L7887O?8%?Z?6H=?D%3%8?3C%?D=3=?%I78=<3<?R%>?%
D:<;:!%?D%>:D%O:CC:;<;?DD%=7%Q3P%=>?%C73;S%)87I%DH6>%93=?R%=>?%
7LC:<3=:7;%7E%=>?%C?;9?8VL3;^%=7%<:F?%=>?%3I7H;=%7E%C73;R%3668H?DR%
3;9%E87I%=>3=%93=?R%=>?%C?;9?8VL3;^_D%9?C3P%:;%EH8;:D>:;<%=>?%
?;=:8?%C73;%D=38=DS
XFY& !S#4#'(04%$(%'$&)+&(S0&/%.S(&()&/0$'%*6&)4&/0$)"10&I*604&
MS%$&74(%'"0
234% "=% ?Z:D=D% 7;CP% :;% #$&*!#'&,-% 7LC:<3=:7;DS% 78#+9% ::>:=% [*1*-%
[')$?9% [b?% :=% ;7=?9R% >7O?F?8R% =>3=% :E% =>?% 7LC:<3=:7;% :D%
J/d
%
58=S%//d/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
8?6:Q8763C%bi*%.*+/%,%!$#*')R%;?:=>?8%Q38=P%63;%9?I3;9%
Q?8E78I3;6?%78%L?%67;D:9?8?9%:;%9?E3HC=%L?E78?%=>?%?ZQ:V
83=:7;%7E%=>?%Q?8:79S%786$4,0*4%19%M'')&#,2+%M'#L4=%O+)9=%
OA:<>:;=%V'19%:<=%:>;>?S\
2L4% "=%63;%L?%9?I3;9?9%'(-5%*2%+/$%!-,*(+*22%*4%#$,)5=%.*--*(J=%
,()%,6-$%=7%67IQCP%O:=>%>:D%7O;%7LC:<3=:7;R%3;9%+/$%'+/$#%
*4%('+9%[&=>?8O:D?R%:E%;?:=>?8%:D%8?39PR%;?:=>?8%63;%8?D7CF?S%
A78?7F?8R%=>?%<H:C=P%Q38=P%63;;7=%8?D6:;9S%+?%O>7%67I?D%
=7%?XH:=P%IHD=%67I?%O:=>%6C?3;%>3;9DS%7D$$%D$1,%19%Z$#.*,=%
@<%K/*-9%B<:?S\
264%
*>?%8:<>=%=7%8?D6:;9%:D%VSW%,64'-"+$9%*>HDG
/4%
W#*1*,-%&,"4$4%'#%4-*J/+%6#$,&/$4%O:CC%;7=%63HD?%8?D6:DV
D:7;S%2D'(J%H'%19%`,.,**,(AK/*-9%['9=%@C%K/*-9%<Q:%
]%O>?8?%=>?%67H8=%8?EHD?9%8?D6:DD:7;%O>?;%=>?8?%O3D%
3%D>78=%9?C3P%:;%=>?%Q3PI?;=%7E%I7C3DD?DS4%[+7O?F?8R%3%
DHLD=3;=:3C%L8?36>%7E%3;%?IQC7P??_D%7LC:<3=:7;D%:D%DHEV
!%6:?;=%63HD?%=7%QH=%3;%?;9%=7%3%67;=836=%7E%?IQC7PI?;=%
L?E78?%=>?%Q?8:79%E78%=>?%=?8I:;3=:7;%7E%DH6>%?IQC7PV
I?;=S%7T,#&,*),%19%K/*-9%E)"&9%['9=%OA>>;U=%T,5%Q>=%
:>BC%,()%I$%-,%[#"k%19%O$J,4!*=%B:%S9N9%;Q:Q?S\
&
&
&&&&&7*.@&0(&#"2&12&!7&#*6&:00&!S9Q&/0#"(Q&!)482
&&&&&O/&E>>=E@&b0-2&CB@&CDED
%
%
c>:C?% :=% :D% =8H?% =>3=% :;% 8?6:Q8763C% 7LC:<3=:7;DR%
DH6>% 3D% =>?% 67;=836=% 7E% QH86>3D?% 3;9% D3C?% :;% =>:D%
63D?R%=>?%Q7O?8%=7%8?D6:;9%:D%:IQC:?9%3;9%3;P%7E%=>?%
67;=836=:;<%Q38=:?D%I3PR%HQ7;%;7;VEHC!%CCI?;=%LP%=>?%
7=>?8%Q38=P%7E%>:D%Q38=%7E%=>?%7LC:<3=:7;R%8?D7CF?%=>?%
67;=836=R%8?D6:DD:7;%O:CC%;7=%L?%Q?8I:==?9%E78%3%DC:<>=%
78%63DH3C%L8?36>%7E%=>?%67;=836=S
%
%
@?D6:DD:7;%I3P%L?%>39%7;CP%E78%DH6>%L8?36>?D%
=>3=%38?%D7%DHLD=3;=:3C%3;9%EH;93I?;=3C%3D%=7%9?E?3=%
=>?%7LW?6=%7E%=>?%Q38=:?D%:;%I3^:;<%=>?%3<8??I?;=S
&
&
&
&
%
%
"=%:D%?8878%=7%>7C9%=>3=%3%67;=836=%7E%D3C?%:D%DHLW?6=%
=7%8?D6:DD:7;%7;%=>?%<87H;9%7E%;7;V67IQC:3;6?%O:=>%
b%")%"&V#4T0(%*.&!)482&12&37!@&0(&#"2
O/&<PCC=@&A#*2&?>@&CDED
JJU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d/
7;?%7E%:=D%67;9:=:7;DR%Q8?DHI3LCP%=>?%Q3PI?;=%7E%=>?%
QH86>3D?%Q8:6?R%:E%=>?%<87H;9%8?C:?9%HQ7;%:D%I?8?CP%
3DDHI?9%3;9%;7=%?D=3LC:D>?9S%";%E36=R%3D%8?F?3C?9%:;%
=>?%63D?%3=%L38R%:=%9:9%;7=%?Z:D=%3=%=>?%=:I?%7E%=>?%!%C:;<%
7E%=>?%67IQC3:;=S
J4%
"E%=>?8?%L?%3%3"4+%&,"4$%E78%!%Z:;<%=>?%Q?8:79%O:=>:;%
O>:6>%=>?%9?L=78%63;%67IQCPR%=>?%67H8=%O:CC%;7=%9?68??%
8?D6:DD:7;S% 78#+9% ::>:=% !,#9% P=% [*1*-% [')$?9% [bH=% =>?%
67H8=%&,(('+%!%F%=>?%=?8I%:;%H;C3OEHC%9?=3:;?8%63D?D%
O>?8?%=>?%C?DD??%>3D%;7=%P?=%Q3:9%=>?%8?;=D%E78%:;%=>?%
C3O%7E%C?3D?R%=>?%67H8=%>3D%;7%DH6>%9:D68?=:7;%H;9?8%
58=S%/N1d%7E%=>?%!:F:C%!79?S%7D$$%T*(,%19%X')#*J"$k=%
c[989e%S9N9%D"!!9=%8"J9%PU=%:>@:=%!9%;B?9\
K4%
"E% =>?% Q87Q?8=P% :D% ;7O% :;% =>?% >3;9D% 7E% 3;% :;;76?;=%
=>:89%Q38=P%O>7%>3D%C3OEHC%Q7DD?DD:7;%7E%=>?%D3I?S%
784*,+*&%['00$#&*,-%['#!9%19%8(J=%c[989e%@U%S9N9%c::+/%
D"!!9e=%!9%:UQ?9
294% *>?%8:<>=%=7%8?D6:;9%($$)4%WH9:6:3C%3QQ87F3C%:;%6?8=3:;%63D?DR%
3;9%:;%7=>?8DR%)'$4%('+%;??9%DH6>%3QQ87F3CS
/4%
Y")*&*,-%,!!#'1,-%*4%($$)$)%O>?;%=>?8?%>3D%3C8?39P%
L??;%)$-*1$#5%7E%=>?%7LW?6=%2H;C?DD%7E%67H8D?%=>?8?%:D%
3%F7CH;=38P%8?=H8;:;<4S%7N"$1,#,%19%K,4&",-=%:Q%K/*-9%
P::%,()%E4&"$+,%19%K,()'=%C;%K/*-9%QB;?9
J4%
Y")*&*,-%,!!#'1,-%*4%VSW%($$)$)%O>?;%=>?8?%>3D%L??;%
;7%9?C:F?8P%P?=%7D$$%T,J),-$(,%E4+,+$%19%T5#*&L=%C%
K/*-9%P@@?%&@R%:;%63D?%=>?8?%>3D%L??;%9?C:F?8PR%=>?%
67;=836=%D=:QHC3=?D%=>3=%?:=>?8%Q38=P%63;%8?D6:;9%=>?%
D3I?% 78% =3^?% Q7DD?DD:7;% 7E% =>?% Q87Q?8=P% HQ7;% ;7;V
EHC!%CCI?;=%LP%=>?%7=>?8%Q38=PS%7['(4*(J%19%Y,0,()#$=%
OAQC;C@=%T,5%:Q=%:>CB?9
%
EF,0!-$G
%
%
"%D7C9%IP%638%=793P%=7%^%E78%,0UURUUU%O:=>%=>?%
D=:QHC3=:7;%=>3=%>?%<:F?D%I?%=>?%Q3PI?;=%3=%=>?%5=V
?;?7%9?%A3;:C3%i;:F?8D:=P%=7I7887OS%"E%"%>3F?%;7=%P?=%
9?C:F?8?9%=>?%638%=7%>:IR%3;9%>?%97?D%;7=%67I?%3;9%Q3P%
=7I7887OR%"%63;%67;D:9?8%=>?%67;=836=%3D%3H=7I3=:63CCP%
8?D6:;9?9S%258=S%/1dK%7E%=>?%!:F:C%!79?%8?39DG%`c:=>%
JJ/
%
58=S%//d/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
8?DQ?6=%=7%0'1,6-$%Q87Q?8=PR%=>?%8?D6:DD:7;%7E%=>?%4,-$%
D>3CC%7E%#*J/+%=3^?%QC36?%:;%=>?%:;=?8?D=%7E%=>?%F?;978R%
:E%=>?%F?;9??%HQ7;%=>?%?ZQ:83=:7;%7E%=>?%Q?8:79%!%Z?9%
E78%=>?%9?C:F?8P%7E%=>?%=>:;<%D>7HC9%('+%>3F?%3QQ?38?9%
=7%8?6?:F?%:=R%78%>3F:;<%3QQ?38?9R%>?%D>7HC9%('+%>3F?%
=?;9?8?9%=>?%Q8:6?%3=%=>?%D3I?%=:I?R%H;C?DD%3%C7;<?8%
Q?8:79% >3D% L??;% D=:QHC3=?9% E78% Q3PI?;=Sa4% "E% HQ7;%
=>?%7=>?8%>3;9R%=>?%638%>3D%,-#$,)5%6$$(%9?C:F?8?9R%"%
63;;7=%=3^?%=>?%C3O%:;=7%IP%7O;%>3;9D%3;9%WHD=%<?=%
L36^% =>?% 638% O:=>7H=% 3% WH9<I?;=% :;% IP% E3F78S% 7D$$%
S&$3'%K$#$k%,()%['9%19%R(+$#(,+*'(,-%Z,(L=%PC%K/*-9%
;P:?9%-78%3I%"R%:;%=>?%I?3;=:I?R%?IQ7O?8?9%=7%D?CC%
=7%3;7=>?8%Q?8D7;%=>?%D3I?%638R%O:=>7H=%Q8?WH9:6?%7E%
67H8D?%=7%=>?%?EE?6=D%7E%58=S%/1MM%7E%=>?%!:F:C%!79?S%
7D$$%E4&"$+,%19%K,()'=%C;%K/*-9%QB;?9
2?4% *>?% 8:<>=% =7% 8?D6:;9% :D% :IQC:?9% 2Q8?DHI?94% =7% ?Z:D=% 3;9R%
=>?8?E78?R%;??9%;7=%L?%?ZQ8?DDCP%D=:QHC3=?9%HQ7;S%78#+9%::>:=%
!,#9%:=%[*1*-%[')$%,()%`')J$4%19%N#,(,),=%B>%K/*-9%@Q>?9
2E4%
*>?%8:<>=%=7%8?D6:;9%I3P%L?%O3:F?9R%?ZQ8?DDCP%78%:IQC:?9CPS%
7X,0'4%19%Z-,4=%c[989e%B:%S9N9%:>QU=%8!#9%:>BB?9
7*.0"0$&12&!#"#$#*a@&0(&#"2
O/&F??EB@&V#42&CE@&CDE=
%
%
566?Q=:;<%9?C3P?9%:;D=3CCI?;=%Q3PI?;=D%L?P7;9%=>?%
<836?%Q?8:79%3I7H;=D%=7%3%O3:F?8%7E%=>?%8:<>=%=7%8?D6:;9S
c9#*)&12&!)94(&)+&7880#"$
O/&D=D>>@&A9"2&?B@&CDD?
%
%
*>?%36=%7E%=>?%6>38=?8?8%:;%DHLV6>38=?8:;<%=>?%F?DD?CR%
:;DQ:=?%7E%3%63=?<78:63C%Q87>:L:=:7;%I3P%L?%3%F:7C3=:7;%7E%
=>?%67;=836=R%LH=%=>?%7O;?8_D%8:<>=%7E%8?67H8D?%:D%3<3:;D=%
=>?%78:<:;3C%6>38=?8?8R%?:=>?8%E78%8?D6:DD:7;%78%EHC!%CCI?;=R%
O:=>%=>?%Q3PI?;=%7E%93I3<?D%:;%?:=>?8%63D?S
X=Y& !S)%'0&-Q&(S0&3*U9406&H#4(Q
234% *>?%:;WH8?9%Q38=P%I3P%6>77D?%L?=O??;G
/4%
EHC!%CCI?;=%2DQ?6:!%6%Q?8E78I3;6?4%2!-"4%93I3<?D4e
JJJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
J4%
58=S%//d/
'#%8?D6:DD:7;%2QCHD%93I3<?D4S%78#+9%::>:=%[*1*-%[')$?9
2L4% *>?% 8:<>=% :D% 3C=?8;3=:F?% 78#+9% ::>:=% [*1*-% [')$?% 3;9% 3;%
3C=?8;3=:F?%Q83P?8%I3P%L?%I39?%:;%3%67H8=%67IQC3:;=%H;V
C?DD%?:=>?8%>39%L??;%O3:F?9%Q8?F:7HDCPS%7WD=%H$6#",#5%;=%
:>:Q?9
264%
*>?%8:<>=%:D%('+%&'(3"(&+*1$R%=>3=%:DR%=>?%QC3:;=:EE%63;;7=%
3D^%E78%b&*+%8?I?9:?DS%7d$#&$-"k%19%E),('=%@@%K/*-9%<U:%
,()%T,J),-$(,%E4+,+$%19%T5#*&L=%C:%K/*-9%P@@?9%*>HDR%:E%
=>?% QC3:;=:EE% ?C?6=D% 2"-!%--0$(+% 7E% 3% 8?6:Q8763C% 7LC:<3=:7;R%
#$4&*44*'(%=>?8?7E%I3P%;7=%L?%9?6C38?9%3=%=>?%D3I?%=:I?S%
7Z,&'#)'%19%8-&,(+,#,=%OAQUU<U=%Y"-5%PU=%:>;B?S%+7O?F?8R%
:;%D7I?%63D?DR%:;%=>?%:;=?8?D=%7E%WHD=:6?%!,#+*,-%#$4&*44*'(%
3;9%!,#+*,-%2"-!%--0$(+%I3P%L?%3CC7O?9S%7D$$%W,(%N",+%19%
K,0*(+",(=%c[989e%S9N9%Q@>@?9
%
+7O?F?8R%=>?%8HC?%:D%D=:CC%=>3=%=>?%8?D6:DD:7;%78%8?D7CH=:7;%7E%
3%67;=836=%>3D%=>?%?EE?6=%7E%3L87<3=:;<%:=%:;%3CC%:=D%Q38=DR%=>?%
68?9:=78%63;;7=%9?I3;9%8?D6:DD:7;R%3;9%D=:CC%:;D:D=%7;%=>?%
Q?8E78I3;6?%7E%DHL789:;3=?%D=:QHC3=:7;DS%+?;6?R%3%6C3HD?%
3CC7O:;<%E78%3==78;?P_D%E??D%E78%=>?%E78?6C7DH8?%7E%3%I78=<3<?%
63;;7=%L?%3F3:C?9%7E%:E%=>?%I78=<3<?%:D%:=D?CE%8?D6:;9?9S%7K'%
K,"$4%19%D$a"$(k,=%@C%K/*-9%@U@?9
294% *>?%:;WH8?9%Q38=P%O>7%>3D%?C?6=?9%2"-!%--0$(+%I3PR%:E%EHC!%CCV
I?;=%L?%:IQ7DD:LC?R%D=:CC%3D^%E78%8?D6:DD:7;%2Q87F:9?9%=>3=%
8?D6:DD:7;%:D%7=>?8O:D?%Q87Q?84S%78#+9%::>:=%[*1*-%[')$?9%*>?%
8HC?%:D%1*&$A1$#4,=%Q87F:9?9%=>?%67H8=%>3D%;7=%P?=%<:F?;%3%
!%;3C%WH9<I?;=S
2?4% "E%3;%36=:7;%:D%L87H<>=%E78%DQ?6:!%6%Q?8E78I3;6?R%=>?%93IV
3<?D%D7H<>=%IHD=%L?%3D^?9%:;%=>?%D3I?%36=:7;e%7=>?8O:D?R%
=>?%93I3<?D%38?%9??I?9%O3:F?9S%7I,5.,-+%19%8J"4+*(*,(%
['#!9=%P>%K/*-9%B;C?9
X<Y& 3""9$(4#(%10&!#$0$
&
&
&
&
/#5%40a&12&!)94(&)+&7880#"$@&0(&#"2
DE&HS%"2&??=
X3""9$(4#(%*.&J++0'(&)+&:)$$&%*&!)**0'(%)*&R%(S
74(2&CCDCY
%
%
H8[WDG% 8% 3;9% Z% O?8?% 67V7O;?8D% 7E% 3% I7=78% L73=S% ";% 3%
O8:==?;%:;D=8HI?;=R%%Z%D7C9%>?8%>3CEVD>38?%:;%=>?%L73=%=7%8%E78%
JJK
%
58=S%//d/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
,MR1UU%O>:6>%O3D%=7%L?%Q3:9%:;%=>8??%?XH3C%:;D=3CCI?;=DS%"=%O3D%
3<8??9%=>3=%:;%63D?%7E%!%#4+%)$2,"-+R%8%IHD=%Q3P%:;=?8?D=De%3;9%
=>3=%:;%63D?%7E%4$&'()%)$2,"-+R%Z%<?=D%L36^%>?8%>3CEVD>38?%:;%=>?%
L73=%O:=>7H=%=>?%;?6?DD:=P%7E%8?:ILH8D:;<%8%E78%O>3=?F?8%8%>3D%
3C8?39P%Q3:9S%5E=?8%!,5*(J%=O7%:;D=3CCI?;=DR%8%9?E3HC=?9%:;%=>?%
Q3PI?;=% 7E% =>?% =>:89% :;D=3CCI?;=S% .HLD?XH?;=CPR% 3% E78=H:=7HD%
?F?;=%9?D=87P?9%=>?%L73=S%Z%;7O%:;D=:=H=?9%3;%36=:7;%=7%8?67F?8%
O>3=%>3D%('+%P?=%L??;%Q3:9%2=>?%=>:89%:;D=3CCI?;=4%QCHD%Nk%:;=?8V
?D=%E87I%9?E3HC=S%8%6C3:IDR%>7O?F?8R%=>3=%=>?%C7DD%7E%=>?%L73=%LP%
3%E78=H:=7HD%?F?;=%>3D%?Z6HD?9%>:I%E87I%=>?%7LC:<3=:7;%=7%Q3P%
=>?%L3C3;6?S%R44"$G%"D%>?%6788?6=f
%
%
`EOIG% 8% IHD=% D=:CC% Q3PS% i;9?8% =>?% 67;=836=% 3;9% H;9?8%
=>?%C3OR%ZR%=>?%D?CC?8V68?9:=78R%>39%=>?%8:<>=%=7%9?I3;9%DQ?6:!%6%
Q?8E78I3;6?%2Q3PI?;=4%78%8?D6:DD:7;%2<?==:;<%L36^%>?8%D>38?4S%
.>?% D?C?6=?9% DQ?6:!%6% Q?8E78I3;6?% 2E78% H;9?8% =>?% 67;=836=% =>?%
!%#4+%)$2,"-+%?;=:=C?9%>?8%=7%67CC?6=%QCHD%*(+$#$4+4S%*>?%C7DD%7E%=>?%
L73=%:D%:II3=?8:3CR%E78%=>?%J$($#*&%7LC:<3=:7;%=7%Q3P%I7;?P%:D%
;7=%?Z=:;<H:D>?9%78%?Z6HD?9%LP%=>?%E78=H:=7HD%C7DD%7E%=>?%L73=S
&
&
&
G)*.&b)&f&!)2&12&\#R#%%#*;HS%"2&!)2
FP&HS%"2&E?C
X3""9$(4#(%*.&J++0'(&)+&#&G"%.S(&N40#'SY
&
%
H8[WDG%.7;<%)7%3;9%!7S%789?8?9%I7C3DD?D%E87I%=>?%+3V
O3::3;V,>:CS% !7S% c>?;% =>?% =:I?% E78% Q3PI?;=% 63I?R% .7;<% )7%
3;9% !7IQ3;P% O3D% ;7=% P?=% 8?39P% =7% Q3PS% "=% O3D% 7;CP% JU% 93PD%
3E=?8O389D%=>3=%=>?%LHP?8%7EE?8?9%=7%Q3PS%*>?%D?CC?8%366?Q=?9%=>?%
7F?89H?%3667H;=R%3;9%D=38=?9%9?C:F?8:;<%=>?%I7C3DD?DR%LH=%:=%C3=?8%
6>3;<?9%:=D%I:;9%3;9%O87=?%3%C?==?8%=7%=>?%LHP?8R%63;6?CC:;<%=>?%
67;=836=S%*>?%LHP?8%L87H<>=%=>:D%36=:7;%=7%?;E786?%EHC!%CCI?;=S%
'?6:9?S
%
%
`EOIG%*>?%LHP?8%O:;D%=>?%63D?%E78%=O7%8?3D7;DG
/4%
*>?% L8?36>% 7E% =>?% 67;=836=% Y% =>?% 9?C3P% 7E% =>?% Q3PI?;=%
Y%:D%7;CP%3%DC:<>=%L8?36>R%3;9%:D%;7=%DHLD=3;=:3C%?;7H<>%
=7%O3883;=%8?D6:DD:7;e
J4%
h83;=:;<%=>3=%=>?8?%O3D%3%L8?36>R%D=:CC%=>?%D?CC?8%.,*1$)%
=>:D%LP%366?Q=:;<%=>?%Q3PI?;=%7E%=>?%7F?89H?%3667H;=S%7D$$%
M,#($#=%Z,#($4%,()%['9%19%R(k,=%@%K/*-9%BUB?9
JJM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%//d/
%
2VSWEG%";%d*--,("$1,%19%f"-'=%$+%,-9=%OA:Q><B=%I$&9%
Q>=% :>B>=% =>?% !7H8=% >?C9% =>3=% 3% ('(A4"64+,(+*,-% L8?36>%
7E% 3% 67;=836=% 63;;7=% <:F?% 8:D?% =7% 3% 8?D6:DD:7;S% +?8?R% =>?%
L8?36>%O3D%=>?%E3:CH8?%=7%399%,0RUUU%=7%=>?%LHP:;<%Q8:6?R%
O>:6>%3I7H;=%O3D%=7%L?%<:F?;%3D%3%L8:L?%=7%=>?%g3Q3;?D?%
38IP%7E!%6?8D%Y%=7%Q8?F?;=%=>?I%E87I%HD:;<%=>?%Q8?I:D?D%
:;% XH?D=:7;% 3D% =>?:8% >?39XH38=?8D% 9H8:;<% =>?% g3Q3;?D?%
766HQ3=:7;S%"=%=H8;?9%7H=R%>7O?F?8R%=>3=%=>?%g3Q3;?D?%9:9%
;7=%8?3CCP%:;=?;9%=7%HD?%D3:9%Q8?I:D?D%Y%>?;6?R%=>?%7LW?6=%
7E%=>?%67;=836=%O3D%;?F?8%9?E?3=?9S4
&
&
HS%"%88%*0&759$050*(&J*(0484%$0$@&3*'2&12&K#(%1%6#6
:;?CEP<@&G08(2&?D@&CD<P
&
%
H8[WDG%-3=:F:939%C?3D?9%3%WH^?L7Z%E87I%=>?%,>:C:QQ:;?%
5IHD?I?;=%(;=?8Q8:D?D%";678Q783=?9%E78%3%=?8I%7E%=>8??%P?38D%
3=%3;%3I7H;=%?XH3C%=7%]1k%7E%=>?%O??^CP%<87DD%8?6?:Q=DR%LH=%:;%
;7%63D?%=7%L?%C?DD%=>3;%,1U%3%O??^S%.:Z%I7;=>D%C3=?8R%-3=:F:939%
3D^?9%=>?%C?DD78%=7%=3^?%L36^%=>?%WH^?L7ZR%L?63HD?%:=%67HC9%;7=%
7Q?83=?%Q87Q?8CP%27;6?%:;%3%O>:C?R%=>?%I36>:;?%67HC9%;7=%7Q?8V
3=?%L?63HD?%=>?%67:;D%:;D?8=?9%=>?8?:;%O7HC9%L?%D=H6^%HQ4S%*>?%
C?DD78R%>7O?F?8R%8?EHD?9%=7%=3^?%L36^%=>?%I36>:;?S%(F?;=H3CCPR%
=>?%C?DD78%DH?9%-3=:F:939%E78%DQ?6:!%6%Q?8E78I3;6?%3;9%93I3<?D%
7;%=>?%=>?78P%=>3=%:;%=>?%63D?%7E%3;P%67:;V7Q?83=?9%Q>7;7<83Q>R%
=>?%D=H6^:;<VHQ%7E%=>?%67:;D%O3D%3%('#0,-%766H88?;6?S%R44"$G%c:CC%
=>?%C?DD78%L?%3CC7O?9%=7%8?67F?8f
%
%
`EOIG%B?DS%*>?%Q7O?8%=7%8?D6:;9%IHD=%L?%?Z?86:D?9%=>87H<>%
=>?%67H8=DS%*>:DR%-3=:F:939%9:9%('+%97S%A78?7F?8R%=>?%L8?36>%7E%
67;=836=%>?8?%:D%('+%4"64+,(+*,-%E78%=>?%9?E?6=%67IQC3:;?9%7E%9:9%
('+%8?;9?8%=>?%WH^?L7Z%H;DH:=3LC?%78%H;D?8F:6?3LC?S
&
&
&
7$%#(%'&!)52&!)482&12&7*.
X!272Y&F>&,2O2&XCC(S&G988"2@&82&C>?Y
X3""9$(4#(%*.&/%.S($&)+&3**)'0*(&MS%46&H04$)*$Y
&
%
H8[WDG%)83;6:D67%5;<%6'"J/+%3;9%#$&$*1$)%E87I%=>?%QC3:;V
=:EE%KN%638=7;D%7E%hC767%*7;:6%HQ7;%>:D%Q87I:D?%=7%Q3P%=>3=%F?8P%
3E=?8;77;S%5C=>7H<>%>?%>39%;7=%P?=%Q3:9R%>?%D7C9%D3I?%=7%A8S%
*3;R%3;%:;;76?;=%QH86>3D?8%E78%F3CH?S%*>?%QC3:;=:EE%;7O%DH?D%E78%
=>?%8?67F?8P%7E%=>?%638=7;D%7E%hC767%*7;:6%E87I%A8S%*3;S
JJ1
%
58=S%//d/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%%
`EOIG%,C3:;=:EE%63;;7=%8?67F?8%E87I%A8S%*3;S%+:D%7;CP%8:<>=%
O7HC9%L?%=7%Q876??9%3<3:;D=%A8S%5;<R%E78%=>?%C3O%DHL789:;3=?D%
=>?%8:<>=%7E%8?D6:DD:7;%=7%=>?%8:<>=%7E%:;;76?;=%=>:89%Q?8D7;DS
&
&
&
&
O901#4#&12&H#$'9#"
C?&HS%"2&ECC
X3""9$(4#(%*.&K0'0$$%(Q&)+&A96%'%#"&7'(%)*&ZS0*
MS040&\#$&N00*&L0"%104QY
%
%
H8[WDG%8%D7C9%Z%3%Q38=:6HC38%L38%Y%=>?%`-?O%!7:;%!3E?Sa%
Z%3<8??9%=7%Q3P%=>?%Q8:6?%:;%:;D=3CCI?;=D%:;%399:=:7;%=7%Q3P:;<%3%
9?L=%O>:6>%8%7O?9%[9%";%7=>?8%O789DR%Z%O3D%DHQQ7D?9%=7%Q3P%[%
8\4%9?L=%Y%3D%Q38=%7E%=>?%QH86>3D?%Q8:6?S%*>?%67;=836=%67;=3:;?9%
=O7%D=:QHC3=:7;D%O>:6>%Q87F:9?9G
%
/4%
*>3=%:;%63D?%7E%;7;VEHC!%CCI?;=%LP%?:=>?8%Q38=PR%=>?%67;=836=%
O7HC9%L?%8?D6:;9?9e
J4%
5;9%=>3=%:;%63D?%=>?%QH86>3D?8%E3:C?9%=7%67IQCP%O:=>%3;P%7E%
=>?%D=:QHC3=:7;D%7E%=>?%67;=836=R%=>?%L38%O3D%=7%L?%#$+"#($)%
=7% =>?% F?;978% O:=>7H=% 8?IH;?83=:;<% =>?% LHP?8% E78% 3;P%
:IQ87F?I?;=D%D>?%I3P%>3F?%I39?S
%
Z%9:9%;7=%67IQCP%O:=>%=>?%D=:QHC3=:7;D%7E%=>?%67;=836=S%5D%
3% I3==?8% 7E% E36=R% D>?% L7887O?9% I7;?P% E87I% [S% 5D% 3% 8?DHC=R% [%
L87H<>=%3;%36=:7;%3<3:;D=%ZS%gH9<I?;=%O3D%8?;9?8?9%3<3:;D=%
Z=%3;9%=>?%D>?8:EE%3==36>?9%=>?%Q87Q?8=P%2=>?%L384%9?DQ:=?%8\4%
Q87=?D=S%*>?%Q87Q?8=P%O3D%=>?;%D7C9%3=%QHLC:6%3H6=:7;%3;9%=>?%
D?CC:;<%Q8:6?%O3D%<:F?;%=7%[9%8%=>?;%L87H<>=%=>:D%36=:7;%3<3:;D=%
[9%"=%O3D%Q87F?9%=>3=G
/4%
*>?% D>?8:EE% L($.% 7E% =>?% 67;=836=% L?=O??;% 8% 3;9% ZR% 3;9%
O3D%=>?8?E78?%:;%6,)%2,*+/%2E78%>?%D>7HC9%>3F?%;7=:!%?9%=>?%
67H8=4S
J4%
[%9:9%;7=%^;7O%7E%D3:9%67;=836=%L?=O??;%8%3;9%ZR%3;9%O3D%
=>?8?E78?%:;%<779%E3:=>S
%
%
R44"$G% A3P% 8% 8?67F?8% E87I% [f% c>Pf% "E% ;7=R% O>3=% :D% 8\4%
8?I?9Pf
%
%
`EOIG%8%63;;7=%8?67F?8%=>?%L38%E87I%[%L?63HD?%3C=>7H<>%
:=% :D% =8H?% =>3=% =>?% D?CC?8% >3D% =>?% 8:<>=% =7% 8?D6:;9% :;% 63D?% =>?%
LHP?8% D>7HC9% ;7=% EHC!%CC% >:D% 78% >?8% 7LC:<3=:7;DR% D=:CC% 8?D6:DD:7;%
63;;7=%L?%3F3:C?9%7E%L?63HD?%=>?%Q87Q?8=P%:D%;7O%:;%=>?%>3;9D%
JJN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d/
7E%3;%:;;76?;=%=>:89%Q?8D7;S%8\4%8?I?9P%O:CC%L?%=7%<?=%93I3<?D%
E87I%Z=%3;9%3CD7%E87I%=>?%D>?8:EER%D:;6?%L7=>%38?%:;%L39%E3:=>S%
"=%63;;7=%L?%D3:9%=>3=%=>?8?%O3D%3H=7I3=:6%8?D6:DD:7;%>?8?%72'#%
+/$%!#'!$#+5%/,)%,-#$,)5%6$$(%)$-*1$#$)?9%5;%3E!%8I3=:F?%WH9:6:3C%
36=:7;%=7%8?D6:;9%78%8?D7CF?%D>7HC9%>3F?%L??;%L87H<>=S%7D$$%WD=%
Y,(9%:>=%:>U@%,()%E4&"$+,%19%K,()'=%@Q%S9N9%V'9%::=%!9%QCBU=%
O>:6>%>?C9%=>3=%D:;6?%=>?%C3O%D3PD%`*>?%&'"#+%D>3CC%)$&#$$%+/$%
#$4&*44*'(%6C3:I?9%S%S%Sa%:=%E7CC7OD%=>3=%WH9:6:3C%:;=?8F?;=:7;%:D%
$44$(+*,-9?
%
%
2VSWEG% &LD?8F?% =>3=% :E% =>?% Q87Q?8=P% >39% ;7=% P?=% L??;%
9?C:F?8?9% LP% 8% =7% Z=% =>?8?% O7HC9% >3F?% L??;% ;7% ;?6?DD:=P% 7E% 3%
WH9:6:3C%36=:7;%7E%8?D6:DD:7;S4
&
&
&
&
&
V#.6#"0*#&J$(#(0&12&VQ4%'T
PC&HS%"2&BFF
X3""9$(4#(%*.&J++0'(&)+&V#T%*.&(S0&!S)%'0@&J++0'(&)+
/0$'%$$%)*&#*6&ZS0*&/0$'%$$%)*&V#Q&N0&7"")R06
J10*&Z%(S)9(&A96%'%#"&7884)1#"Y
&
%
H8[WDG% A8S% AP8:6^% QH86>3D?9% 7;% :;D=3CCI?;=% =O7% C7=D%
E87I%=>?%A3<93C?;3%(D=3=?%E78%,0RUUUS%5E=?8%Q3P:;<%,JR1UU%>?%
9?E3HC=?9%:;%=>?%Q3PI?;=S%5C=>7H<>%=>?8?%O3D%;7%D=:QHC3=:7;%=>3=%
:;%63D?%7E%E3:CH8?%=7%67;=:;H?%Q3P:;<%=>?%I7;=>CP%:;D=3CCI?;=DR%
=>?%I7;?P%Q3:9%:;%Q8?F:7HD%:;D=3CCI?;=D%O7HC9%L?%E78E?:=?9%:;%
E3F78%7E%=>?%D?CC?8R%3;9%;7%D=:QHC3=:7;%3L7H=%8?D6:DD:7;R%D=:CC%=>?%
(D=3=?%:;E78I?9%AP8:6^%=>3=G
/4%
=>?%67;=836=%O7HC9%L?%67;D:9?8?9%3C8?39P%63;6?CC?9%78%8?V
D6:;9?9e%
J4%
=>?%3I7H;=%3C8?39P%Q3:9%O7HC9%L?%E78E?:=?9S
%
%
5E=?8% D7I?% =:I?R% AP8:6^% :;D=:=H=?9% =>:D% DH:=% =7% 8?67F?8%
I7;?P% >?% >39% Q8?F:7HDCP% Q3:9R% =7<?=>?8% O:=>% C?<3C% :;=?8?D=%
=>?8?7;S
%
%
*>?%(D=3=?%67;=?;9?9%=>3=G
/4%
=>?%67;=836=%9:9%;7=%Q87F:9?%E78%8?D6:DD:7;e%3;9
J4%
=>?%8?D6:DD:7;%:=%>39%I39?%O3D%:IQ87Q?8%D:;6?%=>?%67H8=%
>39%;7=%3QQ87F?9%=>?%D3I?e%3;9
K4%
=>3=% =>?8?E78?R% D:;6?% :=% 6>7D?% DQ?6:!%6% Q?8E78I3;6?R% =>?%
I7;?P%Q3:9%D>7HC9%;7=%L?%8?=H8;?9S
JJ]
%
58=S%//d/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
`EOIG%*>?%A3<93C?;3%(D=3=?%:D%67IQC?=?CP%O87;<S
/4%
H*#4+-5=%3C=>7H<>%=>?%67;=836=%9:9%;7=%Q87F:9?%E78%8?D6:DD:7;R%
=>:D%8:<>=%:D%?ZQ8?DDCP%<83;=?9%LP%=>?%C3O%E78%3CC%8?6:Q8763C%
7LC:<3=:7;DS
J4%
D$&'()-5=% =>?% 8?I?9:?D% 7E% =>?% ?D=3=?% O?8?% =>?8?E78?% =7%
#$4&*()%78%=7%3D^%E78%4!$&*!%&%!$#2'#0,(&$S%*>:D%8:<>=%>3D%
L??;%,-#$,)5%$F$#&*4$)%LP%:=%O>?;%:=%;7=:!%?9%=>?%LHP?8%7E%
:=D%63;6?CC3=:7;%7E%=>?%67;=836=S
K4%
W/*#)-5=%:=%63;;7=%6C3:I%=>3=%=>?%8?D6:DD:7;%O3D%:IQ87Q?8%
D:;6?%:=%O3D%=>?%(D=3=?%:=D?CE%=>3=%I39?%=>?%8?D6:DD:7;%3;9%
=>?8?E78?%:=%:D%;7O%:;%?D=7QQ?C%3;9%63;;7=%8?QH9:3=?%:=D%7O;%
36=H3=:7;DS
M4%
H'"#+/-5R%=>?%67;=836=%>3F:;<%L??;%8?D6:;9?9R%=>?%Q38=:?D%
IHD=% L?% 8?D=78?9% =7% =>?:8% 78:<:;3C% D:=H3=:7;R% :;D7E38% 3D%
Q836=:63LC?R%3;9%=>:D%63;%L?%97;?%LP%8?=H8;:;<%=>?%Q8:6?%
Q3:9%3C8?39P%O:=>%:;=?8?D=%E87I%=>?%93=?%7E%=>?%:;D=:=H=:7;%
7E%=>?%36=:7;R%=>?8?%L?:;<%;7%D=:QHC3=:7;%3L7H=%E78E?:=H8?S%
*>?% 8?I?9:?D% L?:;<% 3C=?8;3=:F?% 3;9% ;7=% 6HIHC3=:F?% 3;9%
=>?%(D=3=?R%>3F:;<%?C?6=?9%=7%&,(&$-%=>?%67;=836=R%:=%63;;7=%
;7O%3F3:C%7E%DQ?6:!%6%Q?8E78I3;6?S
%
%
2VSWEG%*>?%Q8:6?%O7HC9%>3F?%L??;%9?I3;93LC?%>39%
DQ?6:!%6% Q?8E78I3;6?% L??;% 3D^?9S% &;?% 63;;7=% 63;6?C% =>?%
D3C?R%3;9%3=%=>?%D3I?%=:I?%3CD7%<?=%=>?%Q8:6?S4
%
%
2VSWE% H_XW`EXR% =>3=% :;% =>:D% 63D?% =>?% .HQ8?I?%
!7H8=%3CC7O?9%#$4&*44*'(%.*+/'"+%WH9:6:3C%3H=>78:T3=:7;S4
&
&
&
%
&
&
&
&
G)"06#6&M2&!)*$%*.&12&A)$0&M2&A#5#*640
:;?P<PF@&V#Q&C?@&CDP=
X3""9$(4#(%*.&ZS0*&A96%'%#"&/0$'%$$%)*&
3$&I**0'0$$#4QY
%
%
H8[WDG%";%3%67;=836=%L?=O??;%3%DHLVC?DD78%2g3I3;98?4%3;9%
3%DHLVC?DD??%2!7;D:;<4%:=%O3D%3<8??9%=>3=%:E%!7;D:;<%O7HC9%F:7C3=?%
=>?%67;=836=R%g3I3;98?%O7HC9%L?%3H=>78:T?9%=7%=3^?%Q7DD?DD:7;%7E%
=>?%C?3D?9%Q8?I:D?D%?F?;%O:=>7H=%8?D78=:;<%=7%67H8=%36=:7;S%!7;DV
:;<%67;=?;9DR%>7O?F?8R%=>3=%DH6>%D=:QHC3=:7;%:D%#&"'%L?63HD?%:=%
3I7H;=D%=7%3%8?;H;6:3=:7;%7E%7;?_D%93P%:;%67H8=R%3;9%=>?8?E78?%
;HCCS%b?D:9?DR%`=>:D%I:<>=%7Q?;%=>?%"%779<3=?D%=7%F:7C?;6?%O>:6>%
JJ0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d/
7H8%C3OD%D??^%=7%DHQQ8?DDSa%g3I3;98?%3CC?<?DR%>7O?F?8R%=>3=%=>?%
D=:QHC3=:7;%97?D%;7=%Q87F:9?%E78%=>?%HD?%7E%E786?%:;%=3^:;<%Q7DV
D?DD:7;%7E%=>?%Q87Q?8=PR%3;9%D>7HC9%=>?8?E78?%;7=%L?%8?<389?9%3D%
67;=838P%=7%QHLC:6%Q7C:6PS%*>?%D=:QHC3=:7;%8?39DG%`=>3=%:;%63D?%7E%
=>?%E3:CH8?%7;%=>?%Q38=%7E%=>?%DHLVC?DD??%=7%67IQCP%O:=>%3;P%7E%
=>?%=?8ID%3;9%67;9:=:7;D%=>?8?7ER%=>?%DHLVC?DD??%>?8?LP%<:F?D%3;%
3H=>78:=P%=7%=>?%DHLVC?DD78%78%=7%3;P%7E%>:D%3H=>78:T?9%8?Q8?D?;=3V
=:F?D%=7%=3^?%Q7DD?DD:7;%7E%=>?%C?3D?9%Q8?I:D?D%:;6CH9:;<%3CC%:=D%
:IQ87F?I?;=D%=>?8?7;%O:=>7H=%67IQ?;D3=:7;%=7%=>?%DHLVC?DD??%
3;9%.*+/'"+%($&$44*+5%'2%#$4'#+*(J%+'%,(5%&'"#+%,&+*'(=%:;%O>:6>%
63D?R%=>?%DHLVC?DD??%D>3CC%L?%9HCP%39F:D?9%:;%O8:=:;<%7E%>?8%E3:CH8?%
=7%67IQCP%O:=>%=>?%=?8ID%3;9%67;9:=:7;D%7E%=>?%67;=836=%LP%O3P%
7E%8?I:;9?8%L?E78?%=>?%=3^?7F?8Sa
%
%
RDD_EG%"D%=>:D%D=:QHC3=:7;%F3C:9f
%
%
`EOIG%B?DR%=>?%D=:QHC3=:7;%:D%F3C:9S%"=%:D%:;%=>?%;3=H8?%7E%3%
8?D7CH=78P%67;9:=:7;R%E78%HQ7;%=>?%?Z?86:D?%LP%=>?%DHLVC?DD78%7E%
>:D%8:<>=%=7%=3^?%Q7DD?DD:7;%7E%=>?%C?3D?9%Q87Q?8=PR%=>?%67;=836=%:D%
9??I?9%=?8I:;3=?9S%*>:D%^:;9%7E%67;=836=H3C%D=:QHC3=:7;%:D%C?<3CR%
=>?8?%L?:;<%;7=>:;<%:;%=>?%C3O%Q87>:L:=:;<%DH6>%^:;9%7E%3<8??V
I?;=S%5D%>?C9%:;%H#'*-,(%19%K,(%S#*$(+,-%D/*!!*(J%['9=%OA::<>C=%
S&+9%P:=%:>;@%Y%*>?8?%:D%;7=>:;<%:;%58=S%//d/%7E%=>?%!:F:C%!79?%
78%:;%3;P%7=>?8%C?<3C%Q87F:D:7;%=>3=%Q87>:L:=D%=>?%Q38=:?D%E87I%
?;=?8:;<%:;=7%3;%3<8??I?;=%=>3=%F:7C3=:7;%7E%=>?%=?8ID%O7HC9%
63HD?%63;6?CC3=:7;%=>?8?7ER%?F?;%O:=>7H=%67H8=%:;=?8F?;=:7;S%";%
7=>?8%O789DR%:=%:D%;7=%3CO3PD%;?6?DD38P%E78%=>?%:;WH8?9%Q38=P%=7%
8?D78=% =7% =>?% 67H8=D% E78% 8?D6:DD:7;% 7E% =>?% 67;=836=S% 5D% 3C8?39P%
>?C9R%WH9:6:3C%36=:7;%:D%;??9?9%O>?8?%23I7;<%7=>?8%:;D=3;6?D4%
=>?8?%:D%3LD?;6?%7E%3%DQ?6:3C%Q87F:D:7;%:;%=>?%67;=836=%<83;=:;<%
=7%3%Q38=P%=>?%8:<>=%7E%8?D6:DD:7;%29?DQ:=?%9?C:F?8P%7E%=>?%DHLW?6=%
I3==?84S
&
&
&
&
/#5)$&12&N"#$
X!272Y&=C&,2O2&CD?>@&7842&CD==
X3""9$(4#(%*.&358"%06&Z#%104&)+&(S0&
/%.S(&()&/0$'%*6Y
&
%
H8[WDG%8%D7C9%>:D%Q386?C%7E%C3;9%=7%ZS%$3=?8R%Z%3E=?8%Q3PV
:;<%=>?%97O;%Q3PI?;=R%3<8??9%=7%>3F?%=>?%C3;9%L?%=>?%4$&"#*+5%
E78%=>?%L3C3;6?%7E%=>?%Q8:6?S%R44"$G%"E%Z%C3=?8%63;;7=%78%97?D%;7=%
Q3PR%I3P%8%8?D6:;9%=>?%67;=836=f
JJd
%
58=S%//d/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
`EOIG%-7%I78?S%c>3=%>?%63;%97%:D%=7%&'--$&+%=>?%L3C3;6?%
78% E78?6C7D?% =>?% D?6H8:=PR% D:;6?% >:D% 366?Q=3;6?% 7E% =>?% D?6H8:=P%
63;%L?%67;D:9?8?9%?XH:F3C?;=%=7%3;%:IQC:?9%O3:F?8%7E%=>?%8:<>=%
=7%8?D6:;9S
&
&
&
&
M#*&O9#(&12&H#5%*(9#*
X!272Y&BP&,2O2&?FDF
X3""9$(4#(%*.&H#4(%#"&/0$'%$$%)*&#*6&H#4(%#"
H04+)45#*'0Y
&
%
H8[WDG%8%L7H<>=%CHIL?8%E87I%Z%E78%=>?%67;D=8H6=:7;%7E%>:D%
>7HD?S%Z%9?C:F?8?9%Q38=%7E%=>?%CHIL?8R%O>:6>%8%:II?9:3=?CP%HD?9S%
c>?;%Z%9:9%;7=%9?C:F?8%=>?%8?D=R%8%O3D%E786?9%=7%<?=%CHIL?8%E87I%
7=>?8%9?3C?8DS%c>?;%Z%O3D%8?39P%=7%67IQCP%O:=>%=>?%7LC:<3=:7;%
7E%9?C:F?8:;<%=>?%8?D=R%8%9:9%;7=%Q3P%E78%DH6>%L3C3;6?%L?63HD?%>?%
;7%C7;<?8%;??9?9%=>?IS%Z%=>?;%DH?9%89%8%QC?39?9%:;%9?E?;D?%=>3=%
:=%O3D%Z%O>7%D>7HC9%L?%C:3LC?%=7%>:I%E78%=>?%:;67IQC?=?%9?C:F?8PS%
";%>:D%QC?39:;<DR%8%9:9%;7=%D3PR%>7O?F?8R%O>?=>?8%>?%O3;=?9%
8?D6:DD:7;%78%EHC!%CCI?;=S%8%?F:9?;=CP%9:9%;7=%O3;=%8?D6:DD:7;%E78%
=>?;%>?%O7HC9%L?%7LC:<?9%=7%8?=H8;%=>?%CHIL?8%3C8?39P%HD?9S%8%
3CD7%?F:9?;=CP%9:9%;7=%O3;=%EHC!%CCI?;=%D:;6?%>?%8?3CCP%9:9%;7=%
;??9%=>?%8?D=%7E%=>?%CHIL?8%3;PI78?S
%
%
`EOIG%*>?8?%63;%L?%8?D6:DD:7;%8?<389:;<%=>?%"()$-*1$#$)%
CHIL?8e%3;9%8?<389:;<%=>?%9?C:F?8?9%CHIL?8R%=>?8?%O3D%3C8?39P%
DQ?6:!%6%Q?8E78I3;6?S%+?;6?R%8%D>7HC9%Q3P%O>3=%>?%D=:CC%7O?D%Z%
E78%=>?%9?C:F?8?9%CHIL?8R%3;9%:;%=H8;%<?=%93I3<?D%E87I%Z%E78%
Z\4%E3:CH8?%=7%67IQC?=?%=>?%9?C:F?8P%7E%=>?%CHIL?8S
&
&
&
7-0""#&12&b4#*'%$')
==&HS%"2&FFP
X/0$'%$$%)*&ZS0*&M%50&3$&)+&(S0&J$$0*'0Y
&
%
H8[WDG%)83;6:D67%D7C9%>:D%C3;9%=7%5L?CC3%=7%Q3P%7EE%6?8=3:;%
7LC:<3=:7;D%O>:6>%E?CC%9H?%:;%=>?%I7;=>%7E%'?6?IL?8R%/dJ0S%c>?;%
=>?%=:I?%E78%Q3PI?;=%63I?R%=>?%LHP?8%O3D%;7=%8?39P%=7%Q3PR%D7%
=>?%D?CC?8%;7=38:3CCP%8?D6:;9?9%=>?%D3C?S%$3=?8%O>?;%=>?%LHP?8%
67HC9%Q3PR%)83;6:D67%;7%C7;<?8%O3;=?9%=7%D?CCS%";%7=>?8%O789DR%
=>?%D?CC?8%9?D:8?9%8?D6:DD:7;R%=>?%LHP?8%9?D:8?9%DQ?6:!%6%Q?8E78IV
3;6?S
JKU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%//d/
%
`EOIG%.:;6?%=:I?%O3D%7E%=>?%?DD?;6?%>?8?R%=>?%D?CC?8%>39%
=>?%8:<>=%=7%8?D6:;9%HQ7;%=>?%LHP?8_D%9?E3HC=S%.7R%=>?%D?CC?8%D>7HC9%
O:;S
XPY& L#5#.0$&+)4&N40#'S&)+&:0#$0&!)*(4#'(
%
%
+7O%IH6>%93I3<?D%I3P%L?%8?67F?8?9%:;%63D?%3%C?3D?%67;V
=836=%:D%L87^?;%LPR%D3PR%;7;VQ3PI?;=%7E%8?;=%O>?;%=>?%Q?8:79%
>3D%;7=%P?=%?ZQ:8?9f
%
%
8VD9G%"=%9?Q?;9D%HQ7;%O>3=%8?I?9P%>3D%L??;%8?D78=?9%=7%
LP%=>?%C?DD78%2C3;9C7894S
34%
"E%>?%D?C?6=D%4!$&*!%&%!$#2'#0,(&$=%>?%63;%9?I3;9%=>?%,&A
&#"$)%8?;=%!-"4%=>?%EH=H8?%8?;=%E78%=>?%"($F!*#$)%+$#09
%
EF,0!-$G%/U%P?38D%67;=836=S%*>?%!%8D=%J%P?38D%8?;=%>3F?%;7=%
P?=%L??;%Q3:9S%$?DD78%3=%=>?%?;9%7E%=>?%J%P?38D%9?I3;9D%
DQ?6:!%6%Q?8E78I3;6?S%+?%<?=D%=>?%L36^%8?;=D%E78%J%P?38D%
3;9%=>?%8?;=D%E78%=>?%8?I3:;:;<%0%P?38DR%Q3P3LC?%3D%=>?P%
3668H?R%QCHD%),0,J$49
L4%
"E%=>?%C?DD78%9?I3;9D%#$4&*44*'(=%>?%<?=D%7;CP%=>?%L36^%8?;=D%
3;9%7HD=?8%7E%=>?%C?DD??R%!-"4%93I3<?DR%LH=%;7=%2;?6?DD38:CP4%
=>?%EH=H8?%8?;=D%78%8?;=3CD%E78%=>?%H;?ZQ:8?9%=?8IS
&
&
/%)$&12&A#'%*()&H#"5#@&0(&#"2
FD&HS%"2&P
&
%
H8[WDG%5%C?3D?%67;=836=%E78%/1%P?38D%3=%,MUU%3%I7;=>%O3D%
67IQC:?9%O:=>%E78%7;CP%K%P?38DR%3E=?8%O>:6>%=>?%C?DD??%9:9%;7=%Q3P%
8?;=S%*>?%C?DD78%3D^?9%=>?%C?DD??%=7%F363=?%=>?%Q8?I:D?DR%:E%>?%
67HC9%;7=%3EE789%=7%Q3PS%*>?%C?DD??%=>?;%=H8;?9%7F?8%=>?%Q8?I:D?D%
=7%=>?%C?DD78S%-7O%=>?%C?DD78%9?I3;9D%8?;=%E78%=>?%8?I3:;:;<%/J%
P?38DS
%
%
`EOIG%.:;6?%=>?%C?DD78%9?6:9?9%=7%D?C?6=%#$4&*44*'(=%>?%:D%
;7O%?;=:=C?9%=7%Q7DD?DD:7;R%LH=%;7=%=7%=>?%EH=H8?%8?;=D%E78%=>?%
H;?ZQ:8?9% =?8IS% +?% 63;;7=% >3F?% L7=>% 8?I?9:?D% 7E% #$4&*44*'(%
3;9%4!$&*!%&%!$#2'#0,(&$S%+39%=>?%L36^%8?;=3CD%;7=%L??;%Q3:9%
P?=R%>?%O7HC9%>3F?%L??;%?;=:=C?9%=7%=>?IS%";%=>?%:;D=3;=%63D?R%
>?% 63;% 67CC?6=% 7;CP% 4!$&*,-% ),0,J$4% =>7D?% =>3=% 8?DHC=?9% E87I%
=>?%L8?36>R%;7=%;?6?DD38:CP%=>?%H;?ZQ:8?9%8?;=DS%7D$$%X"6*'%)$%
O,#$(,%19%d*--,("$1,=%BP%K/*-9%>PQ?9
JK/
%
58=S%//d/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
G8)9$0$&V#4%#*)&i2&e0"#460&f&710"%*#&L2&e0"#460&
12&!7@&L#1%6&72&/#Q59*6)&f&O0)4.0&/#Q59*6)&
O/&C>EBF<@&A9"2&CC@&?>>C
%
%
5%DHLD=3;=:3C%L8?36>%7E%3%8?6:Q8763C%7LC:<3=:7;R%C:^?%E3:CH8?%
=7%Q3P%=>?%Q8:6?%:;%=>?%I3;;?8%Q8?D68:L?9%LP%=>?%67;=836=R%?;=:=C?D%
=>?%:;WH8?9%Q38=P%=7%8?D6:;9%=>?%7LC:<3=:7;S
%
%
@?D6:DD:7;%3L87<3=?D%=>?%67;=836=%E87I%:=D%:;6?Q=:7;%3;9%
8?XH:8?D%3%IH=H3C%8?D=:=H=:7;%7E%L?;?!%=D%8?6?:F?9S
XEY& L#5#.0$&%*&!#$0&)+&N40#'S&)+&J58")Q50*(
&
&
G(#2&!0'%"%#&G#R5%""$@&3*'2&12&!3/
:;CD?PB&#*6&:;CD?PF@&b0-2&?D@&CD<F
&
%
5% 8HC:;<% =>3=% O7HC9% Q?8I:=% 3% 9:DI:DD?9% C3L78?8% =7% ?38;%
L36^O3<?D%E78%3CC%=:I?%78%E78%3%F?8P%C7;<%Q?8:79%7E%=:I?%:D%;7=%7;CP%
H;WHD=%=7%=>?%?IQC7P?8%LH=%=>?%D3I?%O7HC9%E7D=?8%:;97C?;6?%7;%
=>?%Q38=%7E%=>?%C3L78?8DS%*>?%C3L78?8%:D%;7=%DHQQ7D?9%=7%L?%8?CP:;<%
7;%3%67H8=%WH9<I?;=%E78%>:D%DHQQ78=R%LH=%D>7HC9%97%?F?8P=>:;<%3%
8?3D7;3LC?%I3;%O7HC9%97e%>?%D>7HC9%!%;9%?IQC7PI?;=%3D%D77;%
3D%?IQC7PI?;=%>3D%L??;%C7D=R%?DQ?6:3CCP%O>?;%=>?%?IQC7PI?;=%
>3D%=7%9?Q?;9%7;%3%C:=:<3=:7;S%";9??9R%>?%>3D%=7%I:;:I:T?%>:D%
C7DDS
XDY& 3*$(#*'0&ZS040&74(%'"0&3$&3*#88"%'#-"0
&
&
G94%#&12&37!
O/&PBEDB@&A#*2&B>@&CDEP
%
%
H8[WDG%`8[R%7O;?8%7E%=>?%C7=%:;%9:DQH=?R%?;=?8?9%:;=7%3%
9??9%7E%D3C?%O:=>%I78=<3<?%O:=>%NXY9%NXY%Q3:9%7;CP%7;?%:;V
D=3CCI?;=R%*9$9=%=>?%7;?%9H?%:;%gHCS%/d]1S%5CC%=>?%7=>?8D%8?I3:;?9%
H;D?==C?9S% '?DQ:=?% 8?Q?3=?9% 9?I3;9DR% NXY% E3:C?9% =7% 67IQCPS%
*>?8?3E=?8R% `8[% DH?9% NXY% E78% 8?D6:DD:7;S% A?3;O>:C?R% NXY%
7EE?8?9%=7%Q3P%3CC%7H=D=3;9:;<%L3C3;6?%H;9?8%=>?%'??9%7E%.3C?%
O:=>%I78=<3<?S%bH=%`8[%8?W?6=?9%=>?%7EE?8S%*>?;R%NXY%I7F?9%
=7%9:DI:DD%7;%=>?%<87H;9%=>3=%`8[%:D%;7=%?;=:=C?9%=7%DHLD:9:38P%
8?I?9P%7E%8?D6:DD:7;%L?63HD?%7E%=>?%Q8?D?;6?%7E%=>?%8?I?9P%7E%
E78?6C7DH8?S%*>?%=8:3C%67H8=%9?;:?9%=>?%I7=:7;S
JKJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d/
%
%
*>?%!7H8=%7E%5QQ?3CD%DHD=3:;?9%=>?%=8:3C%67H8=R%D3P:;<%=>?%
<83;=%=7%=>?%F?;978VI78=<3<??%2+5!4%7E%=>?%8:<>=%=7%E78?6C7D?%
:E%=>?%F?;9??VI78=<3<78%2h@g4%E3:CD%=7%67IQCP%O:=>%=>?%Q87F:V
D:7;D%7E%=>?%I78=<3<?%I?8?CP%8?67<;:T?D%=>?%8:<>=%7E%=>?%F?;978D%
=7%E78?6C7D?%3;9%8?3C:T?%7;%=>?%I78=<3<?%LH=%97?D%;7=%Q8?6CH9?%
=>?I%E87I%3F3:C:;<%7E%=>?:8%7=>?8%8?I?9:?D%H;9?8%=>?%C3O%DH6>%
3D%8?D6:DD:7;%7E%67;=836=%3;9%93I3<?D%H;9?8%58=DS%//d/%3;9%//]U%
7E%=>?%!:F:C%!79?%:;%8?C3=:7;%=7%@?QHLC:6%56=%N11JS
%
%
*>?% .HQ8?I?% !7H8=% 8?F?8D?9% =>?% !7H8=% 7E% 5QQ?3CD% 3;9%
789?8?9%=>?%F?;9??VI78=<3<78%2h@g4%=7%Q3P%=>?%L3C3;6?%7E%>:D%
:;9?L=?9;?DD%H;9?8%=>?%'??9%7E%.3C?%O:=>%A78=<3<?%O:=>%C?<3C%
:;=?8?D=D% E87I% =>?% D?67;9% :;D=3CCI?;=% 9H?% :;% /d]1% H;=:C% EHCCP%
Q3:9R%E3:C:;<%O>:6>%=>?%F?;978VI78=<3<??%2+5!4%I3P%8?D78=%=7%
E78?6C7DH8?S
%
%
`EOIG%58=S%//d/%7;%8?6:Q8763C%7LC:<3=:7;D%:D%;7=%3QQC:63LC?%
H;9?8%=>?%E36=D%7E%=>:D%63D?S%A78?7F?8R%58=S%/K0K%7E%=>?%!:F:C%!79?%
Q87F:9?D%=>3=%=>?%36=:7;%E78%8?D6:DD:7;%:D%DHLD:9:38PS%"=%63;;7=%
L?%:;D=:=H=?9%?Z6?Q=%O>?;%=>?%Q38=P%DHEE?8:;<%93I3<?%>3D%;7%
7=>?8%C?<3C%I?3;D%=7%7L=3:;%8?Q383=:7;%E78%=>?%D3I?S
%
%
*>?% F?;9??VI78=<3<78_D% 2h@g_D4% L8?36>% 7E% 7LC:<3=:7;% :D%
;7=% O:=>% 8?DQ?6=% =7% =>?% Q?8E?6=?9% 67;=836=% 7E% D3C?% LH=% :;% =>?%
7LC:<3=:7;D% 68?3=?9% LP% =>?% I78=<3<?% 67;=836=S% *>?% 8?I?9P% :D%
;7=%3%Q8:;6:Q3C%36=:7;%8?=3C:3=78P%:;%6>3836=?8R%LH=%L?67I?D%3%
DHLD:9:38P%7;?%O>:6>%LP%C3O%:D%3F3:C3LC?%7;CP%:;%=>?%3LD?;6?%7E%
3;P%7=>?8%C?<3C%8?I?9PS%78#+9%:P<@=%[*1*-%[')$?9%)78?6C7DH8?%>?8?%
:D%;7=%7;CP%3%8?I?9P%366789?9%LP%C3O%LH=%:D%3%DQ?6:!%6%Q87F:D:7;%
E7H;9% :;% =>?% 67;=836=% L?=O??;% =>?% Q38=:?DS% ";% =>?% 67;=836=% 7E%
QH86>3D?%3;9%D3C?R%=>?%Q38=:?D%D=:QHC3=?9%=>3=%=>?%Q3PI?;=%7E%
=>?%Q8:6?%O3D%<H383;=??9%LP%=>?%I78=<3<?%7E%=>?%Q87Q?8=P%D7C9S%
*>:D% 3<8??I?;=% >3D% =>?% =O7VE7C9% ?EE?6=% 7EG% 2/4% 36^;7OC?9<:;<%
:;9:DQH=3LCP%=>3=%=>?%D3C?%>39%L??;%67;DHII3=?9R%D7%IH6>%D7%
=>3=%=>?%F?;9??VI78=<3<78%O3D%9:DQ7D:;<%7E%:=%LP%I78=<3<:;<%
:=%=7%=>?%F?;978e%3;9%2J4%7E%O3:F:;<%=>?%!,&+'%&'0*4'#*'R%*9$9R%=>?%
8?D7CH=:7;%7E%=>?%D3C?%:;%=>?%?F?;=%7E%E3:CH8?%=7%Q3P%=>?%QH86>3D?%
Q8:6?R%DH6>%O3:F?8%L?:;<%Q87F?9%LP%=>?%?Z?6H=:7;%7E%=>?%I78=<3<?%
=7%<H383;=??%=>?%Q3PI?;=R%3;9%:;%366789%=>?8?O:=>%=>?%F?;978_D%
39?XH3=?%8?I?9PR%:;%63D?%7E%;7;VQ3PI?;=R%:D%=>?%E78?6C7DH8?%7E%
I78=<3<?S
%
%
*>?8?%:D%;7%63HD?%E78%=>?%8?D7CH=:7;%7E%=>?%D3C?%3D%Q83P?9%
E78%LP%=>?%F?;978VI78=<3<??S%+:D%36=:7;%D>7HC9%>3F?%L??;%7;?%
JKK
%
58=S%//d/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
E78%=>?%E78?6C7DH8?%7E%=>?%I78=<3<?R%O>:6>%:D%;7=%=>?%36=:7;%:;%
=>:D%63D?S%58=:6C?%//d/%:D%;7=%3QQC:63LC?%:;%=>:D%63D?R%D:;6?%=>?%
DHLW?6=% I3==?8% 7E% =>?% D3C?% :D% 8?3C% Q87Q?8=PS% "=% 97?D% ;7=% 67I?%
D=8:6=CP%O:=>:;%=>?%Q87F:D:7;D%7E%58=S%//d/%258=S%//JMR%.Q3;:D>%
!:F:C%!79?4R%LH=%:D%83=>?8%DHLW?6=?9%=7%=>?%D=:QHC3=:7;D%3<8??9%
HQ7;% LP% =>?% 67;=836=:;<% Q38=:?D% 3;9% =7% =>?% Q87F:D:7;D% 7E% 58=S%
/1dJ%258=S%/1UMR%.Q3;:D>%!:F:C%!79?4%7E%=>?%!:F:C%!79?S
%
%
NXYR%=>?%F?;9??VI78=<3<78R%>3D%7EE?8?9%=7%Q3P%3CC%Q3D=%9H?%
3667H;=DS%!7;D:9?8:;<%=>?%C7O?8%QH86>3D:;<%F3CH?%7E%=>?%Q?D7%:;%
=?8ID%7E%Q8:6?D%7E%8?3C%?D=3=?%=793PR%`8[=%=>?%F?;978VI78=<3<??R%
:D%6788?6=%:;%D=3=:;<%=>3=%>?%>3D%DHEE?8?9%C7DD?DS%+7O?F?8R%>?%:D%
3CD7%=7%LC3I?%E78%=8HD=:;<%Q?8D7;D%O>7%67HC9%;7=%78%O7HC9%;7=%
67IQCP%O:=>%=>?:8%7LC:<3=:7;D%7;%=:I?S%`8[%67HC9%>3F?%E78?6C7D?9%
7;%=>?%I78=<3<?%:II?9:3=?CP%O>?;%:=%E?CC%9H?%:;D=?39%7E%O3:=V
:;<%3CC%=>?D?%P?38D%O>:C?%=8P:;<%=7%?;E786?%=>?%O87;<%8?I?9PS%
*>?% l!,&+'% &'0*4'#*'\% 78% l-$5% &'0*4'#*,\% :D% ;7=>:;<% I78?% =>3;%
3% 67;9:=:7;% DHLD?XH?;=% =7% =>?% 67;=836=% 7E% QH86>3D?% 3;9% D3C?S%
!7;D:9?8?9%638?EHCCPR%:=%:D%=>?%F?8P%67;9:=:7;%DHLD?XH?;=%=>3=%
:D%3CO3PD%3==36>?9%=7%3CC%L:C3=?83C%7LC:<3=:7;D%366789:;<%=7%58=S%
//d/%258=S%//JMR%.Q3;:D>%!:F:C%!79?4e%?Z6?Q=%=>3=%O>?;%3QQC:?9%=7%
8?3C%Q87Q?8=P%:=%:D%;7=%O:=>:;%D67Q?%7E%D3:9%58=S%//d/%258=S%//JM4R%
3;9%:=%:D%DHL789:;3=?%=7%=>?%D=:QHC3=:7;D%I39?%LP%=>?%67;=836=:;<%
Q38=:?D%3;9%=7%=>?%Q87F:D:7;D%7E%58=S%/1dJS%258=S%/1UMR%.Q3;:D>%
!:F:C%!79?4S
XC>Y& J`(4#U96%'%#"&/0$'%$$%)*!
G8)9$0$&/0Q*#"6)&7"'#4#a&f&J$504#"6#&7"'#4#a&12&
H064)&V2&M#*..#;#*@&0(&#"2@&O/&C?E=<E@&7842&D@&?>>B
%
%
H8[WDG%,?=:=:7;?8VDQ7HD?D%8?D6:;9?9%=>?%67;=836=%7E%C?3D?%
O:=>7H=%WH9:6:3C%3QQ87F3CS%'H?%=7%=>?%6>3;<?%:;%7O;?8D>:Q%7E%
=>?%C3;9R%Q?=:=:7;?8VDQ7HD?D%9?6:9?9%=7%H;:C3=?83CCP%63;6?C%=>?%
67;=836=%L?63HD?%#:8<:C:7%DHQQ7D?9CP%L?63I?%=>?%;?O%7O;?8%7E%
=>?%>7HD?%3E=?8%36XH:8:;<%=:=C?%=7%=>?%C7=S%*>?P%3CC?<?9%=>3=%=>?8?%
O3D%;7%8?3D7;%3;PI78?%=7%Q?8E78I%=>?:8%7LC:<3=:7;D%3D%C?DD??D%
L?63HD?%=>?%C?DD?8%>39%6?3D?9%=7%L?%=>?%7O;?8%7E%=>?%>7HD?S
%
%
`EOIG%*>?8?%:D%;7=>:;<%:;%=>?%C?3D?%67;=836=%=>3=%3CC7OD%
=>?%Q38=:?D%=7%?Z=83WH9:6:3CCP%8?D6:;9%=>?%D3I?%:;%63D?%7E%F:7C3V
=:7;%7E%=>?%=?8ID%=>?8?7ES%(Z=83WH9:6:3C%8?D6:DD:7;%7E%3%67;=836=%
:D%;7=%Q7DD:LC?%O:=>7H=%3;%?ZQ8?DD%D=:QHC3=:7;%=7%=>3=%?EE?6=S%78#+9%
::>:?9%c>3=%Q?=:=:7;?8VDQ7HD?D%D>7HC9%>3F?%97;?%O3D%=7%!%C?%3%
JKM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%//dJV//dK
DQ?6:3C%6:F:C%36=:7;%E78%:;=?8QC?39?8%E78%6C3:I3;=D%=7%C:=:<3=?%=>?:8%
6C3:ID%3;9%=7%9?Q7D:=%8?;=3CD%:;%67H8=S
&
74(2&CCD?2&3*&'#$0&-)(S&8#4(%0$&S#10&')55%((06&#&-40#'S&
)+& (S0& )-"%.#(%)*@& (S0& "%#-%"%(Q& )+& (S0& !&4$(& %*+4#'()4& $S#""& -0&
0_9%(#-"Q&(0580406&-Q&(S0&')94($2&3+&%(&'#**)(&-0&60(045%*06&
RS%'S&)+&(S0&8#4(%0$&!&4$(&1%)"#(06&(S0&')*(4#'(@&(S0&$#50&$S#""&
-0&600506&0`(%*.9%$S06@&#*6&0#'S&$S#""&-0#4&S%$&)R*&6#5;
#.0$2&
!,VVJKMW
&
/9"0&%+&N)(S&H#4(%0$&\#10&!)55%((06&#&N40#'S
&
%
`*>?%3L7F?%8HC?D%38?%9??I?9%WHD=S%*>?%!%8D=%7;?%:D%2,*#%=7%
L7=>%Q38=:?D%L?63HD?%=>?%D?67;9%:;E836=78%3CD7%9?8:F?9%78%=>7H<>=%
>?%O7HC9%9?8:F?%D7I?%39F3;=3<?%LP%>:D%7O;%36=%78%;?<C?6=S%*>?%
D?67;9%8HC?%:D%C:^?O:D?%WHD=R%L?63HD?%:=%:D%Q8?DHI?9%=>3=%L7=>%3=%
3L7H=%=>?%D3I?%=:I?%=8:?9%=7%8?3Q%D7I?%L?;?!%=Sa%7X$!'#+%'2%+/$%
[')$%['00*44*'(=%!9%:PU?9
G0'(%)*&?
,N:3O7M3,KG&Z3M\&7&HJ/3,L
&
74(2& CCDB2& ,-"%.#(%)*$& +)4& RS)$0& +9"!&""50*(& #& 6#Q& '04;
(#%*&S#$&-00*&!&`06@&$S#""&-0&605#*6#-"0&)*"Q&RS0*&(S#(&6#Q&
')50$2
&
,-"%.#(%)*$&R%(S&#&40$)"9()4Q&804%)6&(#T0&0++0'(&#(&)*'0@&
-9(&(045%*#(0&98)*&#44%1#"&)+&(S0&6#Q&'04(#%*2
&
7&6#Q&'04(#%*&%$&9*604$())6&()&-0&(S#(&RS%'S&59$(&*0'0$;
$#4%"Q&')50@&#"(S)9.S&%(&5#Q&*)(&-0&T*)R*&RS0*2
&
3+&(S0&9*'04(#%*(Q&')*$%$($&%*&RS0(S04&(S0&6#Q&R%""&')50&
)4&*)(@&(S0&)-"%.#(%)*&%$&')*6%(%)*#"&#*6&%(&$S#""&-0&40.9"#(06&
-Q&(S0&49"0$&)+&(S0&840'06%*.&G0'(%)*2
!,VVJKMW
XCY& jH04%)6d&L0!&*06
&
%
5%Q?8:79%:D%3%6?8=3:;%C?;<=>%7E%=:I?%O>:6>%9?=?8I:;?D%=>?%
?EE?6=:F:=P%78%=>?%?Z=:;<H:D>I?;=%7E%7LC:<3=:7;DS
JK1
%
58=S%//dK
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X?Y& V#*40$#d$&L0!&*%(%)*&)+&#&jH04%)6d
&&
%
`5%=?8I%78%3%Q?8:79%67;D:D=D%:;%3%DQ36?%7E%=:I?%O>:6>%>3D%3;%
:;"%H?;6?%7;%7LC:<3=:7;D%3D%3%8?DHC=%7E%3%WH9:6:3C%36=R%3;9%?:=>?8%
DHDQ?;9D%=>?:8%9?I3;93LC?;?DDR%78%Q879H6?D%=>?:8%?Z=:;<H:D>V
I?;=S%S%S%&LC:<3=:7;D%O:=>%3%Q?8:79%38?R%=>?8?E78?R%=>7D?%O>7D?%
67;D?XH?;6?D%38?%DHLW?6=?9%:;%7;?%O3P%78%3;7=>?8%=7%=>?%?ZQ:83V
=:7;%7E%D3:9%=?8ISa%7T,(#$4,=%['00$(+,#*$4%'(%+/$%[*1*-%[')$=%
d'-9%<=%!9%:BP?9
&
&
78#44%&12&!)94(&)+&7880#"$
:;B>>=P@&A#*2&BC@&CDEF
%
%
*>?%=?8I%7E%7E!%6?%7E%=>?%<?;?83C%I3;3<?8%7E%3%678Q783=:7;%
:D%;7=%!%Z?9%LP%C3O%LH=%LP%=>?%b7389%7E%':8?6=78D%7E%=>?%678Q783V
=:7;S
XBY& H04%)6&L%$(%*.9%$S06&+4)5&#&!)*6%(%)*
234% ";%=>?:8%EHC!%CCI?;=%Y
%
%
5%67;9:=:7;%:D%3;%H;6?8=3:;%?F?;=e%LH=%3%Q?8:79%:D%3;%
?F?;=%O>:6>%IHD=%>3QQ?;%D77;?8%78%C3=?8R%3=%3%93=?%^;7O;%
L?E78?>3;9R%78%3%=:I?%O>:6>%63;;7=%L?%9?=?8I:;?9S
2L4% c:=>%8?E?8?;6?%=7%=:I?%Y
%
%
5%Q?8:79%3CO3PD%8?E?8D%=7%=>?%EH=H8?R%3%67;9:=:7;%I3P%
H;9?8%=>?%C3O%8?E?8%?F?;%=7%=>?%Q3D=S
264%
5D%=7%:;"%H?;6?%7;%=>?%7LC:<3=:7;%Y
%
%
5%67;9:=:7;%63HD?D%3;%7LC:<3=:7;%=7%38:D?%78%=7%6?3D?R%
LH=%3%Q?8:79%I?8?CP%!%Z?D%=>?%=:I?%78%=>?%?E!%636:7HD;?DD%7E%
3;%7LC:<3=:7;S%"=%:D%=8H?%=>3=%3%Q?8:79%I3P%>3F?%3%DHDQ?;D:F?%
78%8?D7CH=78P%?EE?6=R%LH=%:;%=>?%E78I?8R%:=%63;;7=%Q8?F?;=%
=>?%L:8=>%7E%=>?%7LC:<3=:7;%:;%9H?%=:I?R%3;9%:;%=>?%C3==?8R%
:=%97?D%;7=%I:C:=3=?%3<3:;D=%:=D%?Z:D=?;6?S%7<%T,(#$4,%:BP=%
:B@?9
XFY& MS0&L%++040*(&k%*6$&)+&M045$&)4&H04%)6$
234% Y%
/4% I$!%(*+$% Y% =>?% ?Z36=% 93=?% 78% =:I?% :D% ^;7O;% 3;9%
<:F?;S
JKN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//dK
% % %
J4% R()$!%(*+$% Y% D7I?=>:;<% =>3=% O:CC% DH8?CP% >3QQ?;R%
LH=%=>?%93=?%7E%>3QQ?;:;<%:D%H;^;7O;%23D%:;%=>?%
63D?%7E%9?3=>4S
2L4% Y%
/4% O$J,-%Y%3%Q?8:79%<83;=?9%H;9?8%=>?%Q87F:D:7;D%7E%
=>?%C3OS
% % %
J4% ['(1$(+*'(,-%'#%d'-"(+,#5%Y%Q?8:79%3<8??9%HQ7;%
78%D=:QHC3=?9%LP%=>?%Q38=:?DS
% % %
K4% Y")*&*,-%Y%=>?%Q?8:79%78%=?8I%!%Z?9%LP%=>?%67H8=D%
E78%=>?%Q?8E78I3;6?%7E%3;%7LC:<3=:7;%78%E78%:=D%=?8V
I:;3=:7;S
264%% Y%
/4% EF%)*$%Y%3%Q?8:79%O:=>%3%DHDQ?;D:F?%?EE?6=S%+?8?R%
=>?%7LC:<3=:7;%L?<:;D%7;CP%E87I%3%93P%6?8=3:;R%:;%
7=>?8%O789DR%HQ7;%=>?%388:F3C%7E%=>?%Q?8:79S
% % %
J4% R(%)*$0%Y%3%Q?8:79%78%=?8I%O:=>%3%8?D7CH=78P%?EE?6=S%
iQ%=7%3%=:I?%6?8=3:;R%=>?%7LC:<3=:7;%8?I3:;D%F3C:9R%
LH=%HQ7;%=>?%388:F3C%7E%D3:9%Q?8:79R%=>?%7LC:<3=:7;%
=?8I:;3=?DS%7D$$%<%T,(#$4,=%!!9%:;U=%:;>?9
X=Y& J`#58"0&)+&#*&,-"%.#(%)*&R%(S&#&H04%)6&jJ`&L%0d
%
%
`"%O:CC%DHQQ78=%P7HR%L?<:;;:;<%=>?%!%8D=%93P%7E%;?Z=%P?38Sa%
+?8?R% =>?% 7LC:<3=:7;% 7;CP% L?67I?D% ?EE?6=:F?% 7;% =>?% 93P% D=:QHV
C3=?9S
X<Y& J`#58"0&)+&#*&,-"%.#(%)*&R%(S&#&H04%)6&j3*&L%05d
%
%
`"% O:CC% DHQQ78=% P7H% H;=:C% g3;S% /% 7E% ;?Z=% P?38Sa% +?8?R% =>?%
7LC:<3=:7;%:D%:II?9:3=?CP%9?I3;93LC?%3;9%O:CC%?;9%7;CP%7;%g3;S%
/%7E%=>?%;?Z=%P?38S
&
&
&
K0R&b4)*(%04&V%*0$@&3*'2&12&K#(%)*#"&:#-)4
/0"#(%)*$&!)55%$$%)*&#*6&!4%$#*()&N4%)*0$
O/&=C=PE@&V#Q&?D@&CDEF
&
%
5%I3;3<?8:3C%?IQC7P??%O>7%<7?D%7;%C?3F?%O:=>7H=%Q?8I:DV
D:7;%3;9%O>:C?%L?:;<%3H9:=?9%263D>%D>78=3<?%>3F:;<%L??;%9:D67FV
?8?94%I3P%L?%9:DI:DD?9%78%=?8I:;3=?9%E78%C36^%7E%67;!%9?;6?S
JK]
%
58=S%//dK
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
XPY& c904%0$
234% `"%O:CC%DHQQ78=%P7H%E87I%=>?%=:I?%^%I388:?DSa%"D%=>:D%3;%
7LC:<3=:7;%O:=>%3%=?8I%78%3%67;9:=:7;3C%7LC:<3=:7;f
%
%
8VD9G%*>:D%:D%3%67;9:=:7;3C%7LC:<3=:7;%L?63HD?%O?%63;V
;7=%L?%DH8?%O>?=>?8%78%;7=%^%O:CC%I388PS%";%7=>?8%O789DR%
=>:D%:D%3;%7LC:<3=:7;%O:=>%3%DHDQ?;D:F?%67;9:=:7;R%;7=%3;%
7LC:<3=:7;%O:=>%3%DHDQ?;D:F?%=?8IS
2L4% `"%O:CC%L?<:;%DHQQ78=:;<%P7H%:E%P7H8%E3=>?8%9:?DSa%"D%=>:D%3%
67;9:=:7;3C%7LC:<3=:7;%78%3;%7LC:<3=:7;%O:=>%3%=?8If
%
%
8VD9G%*>:D%:D%3;%7LC:<3=:7;%O:=>%3%=?8I%$F%)*$%]%3%=?8I%
O:=>%3%DHDQ?;D:F?%?EE?6=S%(F?;%:E%=>?%O789%`:Ea%O3D%HD?9R%
D=:CC%=>?8?%:D%;7%97HL=%=>3=%`P7H8%E3=>?8a%O:CC%9:?R%D77;?8%78%
C3=?8S
264%
`"%O:CC%L?<:;%DHQQ78=:;<%P7H%E87I%=>?%=:I?%P7H8%E3=>?8%)*$4%
7E%0,-,#*,Sa%"D%=>:D%3;%7LC:<3=:7;%O:=>%3%=?8If
%
%
8VD9G%*>:D%:D%3;%7LC:<3=:7;%O:=>%3%DHDQ?;D:F?%67;9:V
=:7;S%"=%:D%=8H?%=>3=%`P7H8%E3=>?8a%O:CC%9:?%D77;?8%78%C3=?8R%
bi*%O?%38?%;7=%DH8?%O>?=>?8%78%;7=%>?%O:CC%9:?%7E%I3C38:3S%
+?;6?R%O?%>3F?%>?8?%3%67;9:=:7;%:;D=?39%7E%3%=?8IS
294% `"%O:CC%Q3P%P7H%IP%9?L=%O>?;%IP%I?3;D%Q?8I:=%I?%=7%97%
D7Sa%"D%=>:D%3;%7LC:<3=:7;%O:=>%3%67;9:=:7;%78%3;%7LC:<3=:7;%
O:=>%3%=?8If
%
%
8VD9G%*>:D%:D%67;D:9?8?9%LP%=>?%C3O%3D%3;%7LC:<3=:7;%
O:=>%3%=?8IS%`c>?;%=>?%9?L=78%L:;9D%>:ID?CE%=7%Q3P%O>?;%
>:D% I?3;D% Q?8I:=% >:I% =7% 97% D7R% =>?% 7LC:<3=:7;% D>3CC% L?%
9??I?9%=7%L?%7;?%O:=>%3%Q?8:79R%DHLW?6=%=7%=>?%Q87F:D:7;D%
7E%58=S%//d]Sa%78#+9%::<U=%[*1*-%[')$?9
%
%
VSWEG%";%N,*+$%19%H'(,&*$#=%$+%,-9=%OA::<QC=%Y"-9%P:=%
:>;:=%=>?%L3C3;6?%7E%Q8:6?%:;%3%D3C?%7E%:87;%78?%O3D%D=:QHC3=?9%
=7%L?%Q3:9%7H=%7E%=>?%!%8D=%Q876??9D%E87I%3%=83;D>:QI?;=%
7E%=>?%78?S%*>?%67H8=%>?C9%=>3=%D3:9%=83;D>:QI?;=%:D%3%4"4A
!$(4*1$%=?8I%2;7=%3%DHDQ?;D:F?%67;9:=:7;4%L?63HD?%O>?=>?8%
78%;7=%=>?8?%67HC9%L?%3%=83;D>:QI?;=R%=>?%L3C3;6?%D=:CC%7OV
:;<%>39%=7%L?%Q3:9S%*>?%D=:QHC3=:7;%7;%=83;D>:QI?;=%O3D%
:;=?;9?9%I?8?CP%=7%!%Z%=>?%EH=H8?%93=?%7E%=>?%Q3PI?;=S
JK0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//dK
XEY& j7&L#Q&!04(#%*d&L0!&*06
%
%
`5%),5%&$#+,*(%:D%H;9?8D=779%=7%L?%=>3=%O>:6>%IHD=%;?6?DV
D38:CP%67I?R%3C=>7H<>%:=%I3P%;7=%L?%^;7O;%O>?;Sa%7K,#9%P=%8#+9%
::>P=%[*1*-%[')$?9
%
%
[VSWEG
234% c>?;% O?% ^;7O% =>3=% D7I?=>:;<% O:CC% >3QQ?;% LH=% O?% 38?%
H;6?8=3:;%3D%=7%=>?%=:I?%:=%O:CC%>3QQ?;R%=>:D%:D%3%=?8IS%
2L4% c>?;%O?%38?%;7=%?F?;%DH8?%:E%D7I?=>:;<%O:CC%>3QQ?;%3D%3%
E36=%78%;7=R%=>:D%:D%3%67;9:=:7;S\
XDY& G)50&!#$0$
&
&
L0&!)4(0$&12&e0*(94#*a#
PD&G!/7&P>D
&
%
"E%:=%:D%3CC?<?9%=>3=%3%6?8=3:;%O8:==?;%67;=836=%O:=>%3%9?!%;:=?%
Q?8:79%:D%8?3CCP%67;9:=:7;3CR%LH=%=>?%67;9:=:7;%:D%('+%:;9:63=?9%
=>?8?7;%2DH6>%3D%=>?%67;9:=:7;%=>3=%3%LHP?8%O:CC%Q3P%7;CP%:E%>?%
:D%3LC?%=7%67CC?6=%:;%=H8;%=>?%QH86>3D?%Q8:6?%7E%>:D%7O;%=O7%/,&*A
$(),4R%D7C9%=7%3;7=>?8%?;=:=P4R%=>?%67;=836=%O:CC%;7=%L?%8?<389?9%
3D%67;9:=:7;3C%LH=%7;?%=>3=%:D%O:=>%3%9?!%;:=?%=?8IS
&
&
&
:%4#.&M0`(%"0&V%""$@&3*'2&#*6&b0"%`&k2&:%4#.
12&!)94(&)+&7880#"$&#*6&!4%$(#*&7"'#*(#4#
:;B>PB<@&A9"2&CC@&CDP=
&
%
H8[WDG% 5C63;=383% O3D% Q?8DH39?9% LP% )?C:Z% $:83<% 7E% =>?%
$:83<%*?Z=:C?%A:CCD%=7%<:F?%HQ%3%Q?8I3;?;=%W7L%3;9%=7%W7:;%$:83<%
:;% =>?% C3==?8_D% LHD:;?DD% H;=:C% DH6>% Q?8:79% 3D% O>?;% 5C63;=383%
O7HC9% F7CH;=38:CP% 8?D:<;% 78% H;=:C% 5C63;=383% :D% 8?I7F?9% E78% 3%
F3C:9%63HD?S%.7I?=:I?%C3=?8R%5C63;=383%O3D%8?I7F?9%7;%3667H;=%
7E%!%;3;6:3C%8?F?8D?D%7;%=>?%Q38=%7E%=>?%!7IQ3;P%23%<87H;9%O>:6>%
Q87F?9R%>7O?F?8R%=7%L?%2,-4$4S%R44"$G%";%3;%36=:7;%LP%5C63;=383%
E78%93I3<?DR%O7HC9%=>?%Q87F:D:7;D%7E%@5%/U1J%3D%3I?;9?9%2=>?%
*?8I:;3=:7;%,3P%$3O%O>?;%=>?8?%:D%;7%=:I?%!%Z?9%E78%?IQC7PV
I?;=4%3QQCP%DH6>%=>3=%3CC%=>3=%5C63;=383%O:CC%8?6?:F?%:D%3%DI3CC%
DHI%L3D?9%7;%=>?%;HIL?8%7E%P?38D%>?%>3D%L??;%?IQC7P?9%LP%=>?%
!7IQ3;Pf
JKd
%
58=S%//dK
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
`EOIG%@5%/U1J%3D%3I?;9?9R%O:CC%('+%,!!-5=%L?63HD?%:;%=>?%
Q8?D?;=%63D?%=>?8?%:D%3;%$F!#$44%,J#$$0$(+%3D%=7%=>?%Q?8:79%7E%
5C63;=383_D%?IQC7PI?;=R%=>3=%Q?8:79%=7%D=38=%E87I%5C63;=383_D%
?IQC7PI?;=%HQ%=7%=>?%=:I?%5C63;=383%I3P%F7CH;=38:CP%8?D:<;R%78%
O>?;%=>?%?IQC7P?8%8?I7F?D%5C63;=383%E78%3%F3C:9%63HD?S%*>HDR%
=>?%?IQC7PI?;=%>3D%3%Q?8:79%DHLW?6=%7;CP%=7%=>?%8?D7CH=78P%67;V
9:=:7;%7E%8?D:<;3=:7;%78%8?I7F3C%E78%63HD?S%@5%/U1J%3D%3I?;9?9%
LP%@5%/]0]R%97?D%;7=%3QQCPS%*>?%?IQC7P?8R%>3F:;<%=?8I:;3=?9%
5C63;=383_D% ?IQC7PI?;=% O:=>7H=% 3% F3C:9% 63HD?R% 67II:==?9% 3%
L8?36>%7E%67;=836=%I3^:;<%:=%C:3LC?%E78%93I3<?DS%78#+9%::CU=%[*1*-%
[')$?9
&
&
G5%(S@&N0""&f&!)2&12&G)(0")&V#((%
FF&HS%"2&EPF
&
%
H8[WDG%8%789?8?9%<779D%E87I%ZS%*>?%<779D%O?8?%DHQQ7D?9%
=7%L?%Q3:9%E78%./$(%+/$5%,##*1$)%2#'0%+/$%_9D9%"=%O3D%Q87F?9%=>3=%
E78%=>?%<779D%=7%L?%3LC?%=7%C?3F?%=>?%iS.SR%=>?%iS.S%h7F?8;I?;=%
>39%=7%<:F?%3%6?8=:!%63=?%7E%Q8:78:=P%3;9%Q?8I:DD:7;e%7=>?8O:D?R%
=>?%<779D%O7HC9%>3F?%=7%8?I3:;%:;%=>?%iS.S%R44"$G%"D%=>?%388:F3C%
7E%=>?%<779D%:;%A3;:C3%E87I%=>?%iS.S%3%=?8I%78%3%67;9:=:7;f
%
%
`EOIG%*>?%388:F3C%7E%=>?%<779D%:D%H;6?8=3:;R%7O:;<%=7%=>?%
9:EE?8?;=%8?XH:8?I?;=D%=>3=%>39%=7%L?%67IQC:?9%O:=>%!%8D=S%+?;6?R%
=>?%388:F3C%7E%D3:9%<779D%:D%3%67;9:=:7;R%;7=%3%=?8IS
&
&
!)58#*%#&O0*04#"&60&M#-#')$&12&7*)a#
P&HS%"2&F==
&
%
H8[WDG%8%O3D%:;9?L=?9%=7%ZS%*>?%9?L=%O3D%DHQQ7D?9%=7%
L?%Q3:9%:;%:;D=3CCI?;=DS%*>?8?%O3D%;7%Q87F:D:7;%:;%=>?%67;=836=%
LP%O>:6>%HQ7;%E3:CH8?%7E%7;?%:;D=3CCI?;=%7E%=>?%9?L=R%=>?%O>7C?%
9?L=%D>7HC9%=>?8?HQ7;%L?67I?%3=%7;6?%Q3P3LC?S%8%O3D%H;3LC?%
=7%Q3P%7;?%:;D=3CCI?;=%7;%=:I?S%Z%L87H<>=%3;%36=:7;%;7=%7;CP%=7%
8?67F?8%D3:9%:;D=3CCI?;=%LH=%=>?%?;=:8?%9?L=S%R44"$G%+7O%IH6>%
63;%Z%8?67F?8f
%
%
`EOIG%Z%63;%8?67F?8%7;CP%=>?%:;D=3CCI?;=%9H?S%*>?%L3CV
3;6?%:D%;7=%P?=%9?I3;93LC?R%3;9%O:CC%L?67I?%D7%7;CP%3=%=>?%=:I?%
D=:QHC3=?9%LP%=>?%Q38=:?DS%*>:D%:D%L?63HD?%=>?8?%O3D%;7%5!!($V
(@5*"&-%!$5i.(S
JMU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//dK
&
&
N04.&12&V#.6#"0*#&J$(#(0@&3*'2
D?&HS%"2&CC>
&
%
*>?%6C3HD?%`H;=:C%=>?%9?E?;93;=%D>3CC%>3F?%7L=3:;?9%3%C73;%
E87I%=>?%-3=:7;3C%!:=P%b3;^%7E%-?O%B78^R%78%3E=?8%:=%>3D%7L=3:;?9%
EH;9D%E87I%7=>?8%D7H86?Da%D>7HC9%L?%67;D:9?8?9%3%67;9:=:7;%23;9%
;7=%3%=?8I4R%E78%=>?%7L=3:;:;<%7E%EH;9D%I3P%78%I3P%;7=%>3QQ?;S%
25D%3%I3==?8%7E%E36=R%>?8?%=>?%C73;%;?F?8%I3=?8:3C:T?9S4
&
&
G#*()$&12&!)94(&)+&7880#"$
:;<>?C>@&V#42&?P@&CDEF
%
%
5%C?3D?%7;%3%`I7;=>%=7%I7;=>%L3D:Da%:D%7;?%O:=>%3%)$!%(*+$%
+$#0R%3;9%:DR%=>?8?E78?R%;7=%<7F?8;?9%LP%,'%JU%78%b3=3D%,3IV
L3;D3%b:C3;<%J1%2E7CC7O:;<%=>?%X8VW8EO%63D?4S%7D$$%X,(+,$-%
19%O-,1$=%>C%D[X8%@BP?9
%
&
"#&75094!&*#&V0"0*'%);\04404#W
X')*'944%*.&#*6&6%$$0*(%*.Y
%
%
*>?%I?8?%E36=%=>3=%Q3PI?;=%7E%8?;=%:D%I39?%?F?8P%I7;=>%
97?D%;7=%E7CC7O%=>3=%=>?%C?3D?%:D%8?3CCP%7;%3%`I7;=>%=7%I7;=>%
L3D:Da%27=>?8O:D?R%=>?8?%O:CC%>389CP%L?%3;P%7663D:7;%O>?8?%,'%Jd%
78%b,%J1%63;%L?%3QQC:?94S%)78%=>?%=O7%C3OD%=7%3QQCPR%=>?8?%IHD=%
8?3CCP%L?%3;%3<8??I?;=%=>3=%=>?%C?3D?%:D%E87I%I7;=>%=7%I7;=>S%
c>?8?%=>?8?%:D%;7%`I7;=>CP%L3D:DRa%,'%JU%3;9%b,%J1%63;%3QQCPR%
?F?;%:E%=>?%8?;=%:D%Q3:9%I7;=>CPS
&
&
N#"9'#*#.&12&A96.0&b4#*'%$')
O/&BBF??@&V#Q&B>@&CDEB
%
%
"E%=>?%8?;=%3<8??9%HQ7;%:D%Q3P3LC?%7;%3%I7;=>CP%L3D:DR%=>?%
9H83=:7;%7E%=>?%C?3D?%:D%9??I?9%E87I%I7;=>%=7%I7;=>R%3;9%=>?%
C?DD78%:D%3CC7O?9%=7%=?8I:;3=?%=>?%C?3D?%3E=?8%?36>%I7;=>R%Q87V
F:9?9%=>?8?%:D%9H?%;7=:6?S%5E=?8%DH6>%;7=:6?R%=>?%C?DD??_D%8:<>=%=7%
67;=:;H?%:;%Q7DD?DD:7;%6?3D?DR%3;9%3;%36=:7;%7E%H;C3OEHC%9?=3:;?8%
I3P%L?%L87H<>=%3<3:;D=%>:IS
&
&
&
7'0;7.4)&L010")850*(&!)482&12&!7
O/&CCDP?D@&A#*2&?C@&CDDP
PE&G!7L&CF<
%
%
RDD_EG%b?63HD?%=>?%DHDQ?;D:7;%7E%O78^%H;9?8%3%67;=836=%
>3D%L??;%L87H<>=%3L7H=%LP%2'#&$%0,3$"#$R%:D%=>?%Q?8:79%9H8:;<%
JM/
%
58=S%//dK
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
O>:6>%O78^%>3D%L??;%DHDQ?;9?9%WHD=:EP%3;%?Z=?;D:7;%7E%=>?%=?8I%
7E%=>?%67;=836=f
%
%
`EOIG% -7S% *>?% E36=% =>3=% =>?% 67;=836=% :D% DHLW?6=% =7% 3%
8?D7CH=78P%Q?8:79R%O>:6>%8?C:?F?D%=>?%Q38=:?D%7E%=>?:8%8?DQ?6=:F?%
7LC:<3=:7;DR% 97?D% ;7=% D=7Q% =>?% 8H;;:;<% 7E% =>?% Q?8:79% 7E% =>?:8%
67;=836=S
XC>Y& /0_9%$%(0$&+)4&#&e#"%6&H04%)6&)4&M045
234% "=%IHD=%8?E?8%=7%=>?%EH=H8?S
2L4% "=%IHD=%L?%&$#+,*(%2DH8?%=7%67I?4%LH=%63;%L?%?Z=?;9?9S%2"E%
?C:I:;3=?9%DHLD?XH?;=CP%LP%IH=H3C%3<8??I?;=R%=>?%7LC:<3V
=:7;%L?67I?D%QH8?%3;9%:II?9:3=?CP%9?I3;93LC?4S%7E4+,+$%
'2%T'+,%19%D$##,=%@C%K/*-9%@;@?9
264%
"=% IHD=% L?% Q>PD:63C% 3;9% C?<3CCP% Q7DD:LC?R% 7=>?8O:D?% =>?%
7LC:<3=:7;%:D%1'*)9%2EF,0!-$G%`"_CC%<:F?%P7H%IP%>7HD?%7;?%
P?38%3E=?8%5'"#%)$,+/Sa%*>?%7LC:<3=:7;%>?8?%:D%F7:9S4
XCCY& c904Q
234% "E%3;%7LC:<3=:7;%:D%9?I3;93LC?%`7;%78%3L7H=%'?6S%1R%JUU1Ra%
O>?;%:D%:=%8?3CCP%9?I3;93LC?f
%
%
8VDG%5%E?O%93PD%L?E78?%78%3E=?8%'?6S%1R%JUU1R%3;9%;7=%
3%93=?%E38%3O3P%;78%7;?%!%Z?9%LP%=>?%9?L=78S%7D$$%D5%19%I$%
O$'(=%c[989e%NX%Q<<AX=%D$!+9%QB=%:>C@?9
2L4% 5;% 7LC:<3=:7;% D=3=?9% `8% O:CC% <:F?% Z% 3% 638% =>?% I7I?;=% ^%
L?67I?D%KU%P?38D%7C9Sa%-7OR%^%:D%7;CP%J0S%.HQQ7D?%^%9:?D%
3=%=>?%3<?%7E%JdR%D>7HC9%8%D=:CC%<:F?%=>?%97;3=:7;f
%
%
8VD9G% B?DR% :=% O7HC9% D??I% =>3=% =>?% Q38=:?D% 8?3CCP%
:;=?;9?9%3%=?8IR%3;9%;7=%3%67;9:=:7;R%H;C?DD%E36=D%D>7HC9%
?Z:D=% O>:6>% D>7O% =>3=% =>?% Q38=:?D% :;=?;9?9% 3% 67;9:=:7;S%
7D$$%8#+9%;U;%'2%+/$%[*1*-%[')$%65%,(,-'J5?9
XC?Y& ZS0*&H04%)6&)+&H40$'4%8(%)*&N0.%*$
%
%
*>?%!$#*')%'2%!#$4&#*!+*'(%67II?;6?D%E87I%=>?%=:I?%=>?%
=?8I%:;%=>?%7LC:<3=:7;%388:F?DR%E78%:=%:D%7;CP%E87I%=>3=%93=?%=>3=%:=%
:D%9H?%3;9%9?I3;93LC?S%7D$$%_--0,((%19%`$#(,$k=%PU%K/*-9%;>?9
JMJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//dM
XCBY& J`(0*$%)*&)+&H04%)6
%
%
(F:9?;6?%7E%$F+$(4*'(%7E%Q?8:79R%:E%3;P%L?%<:F?;R%IHD=%L?%
D>7O;%LP%9?L=78S%7D$$%K/*-9%E(J*($$#*(J%['9%19%N#$$(=%@<%K/*-9%
@;;?9
XCFY& MS0&V)4#()4%95&:#R$&)+&(S0&HS%"%88%*0$
%
%
.>78=CP%3E=?8%C:L?83=:7;R%O?%>39%7H8%D7V63CC?9%A783=78:HI%
$3ODS%7EF9%S#)$#4%V'49%QB=%PQ%c:>@Be%3;9%X8%P@Q%c:>@<e9?%*>?%
QH8Q7D?%7E%3%I783=78:HI%:D%=7%7L=3:;%3%!'4+!'($0$(+%7E%=>?%Q?8:79%
O:=>:;%O>:6>%=7%Q3P%7EE%7LC:<3=:7;DS%"=%:D%3%DHDQ?;D:7;%7E%Q3PI?;=R%
3;%36=%7E%<836?S%";%=>?%63D?%7E%X"++$#%19%E4+$6,(=%>P%K/*-9%;<=%=>?%
A783=78:HI%$3OD%O?8?%9?6C38?9%2:;%/d1K4%3D%"(&'(4+*+"+*'(,-%
L?63HD?G
234% =>?%!$#*')%D=3=?9%:;%=>?%C3O%:D%:;9?!%;:=?e
2L4% 3;9%=>?%67;=:;H3=:7;%7E%=>?%I783=78:HI%O:CC%L?%H;8?3D7;V
3LC?%3;9%7QQ8?DD:F?%=7%68?9:=78DR%:;3DIH6>%3DR%67;D:9?8:;<%
=>?%Q?8:79%=>3=%>3D%?C3QD?9%D:;6?%C:L?83=:7;R%=>?%9?L=78D%
I3P%L?%D3:9%=7%>3F?%3C8?39P%8?>3L:C:=3=?9%=>?ID?CF?DS%7D$$%
,-4'%O-,($4%19%R(4"-,#%O*2$%844"#,(&$%['9=%NX%OA;@;B;=%8!#9%
:@=%:>B@?9
%
%
cVSWEG%";%<?;?83CR%=>?%A783=78:HI%$3OD%I3P%L?%3QV
QC:63LC?%3CD7%=7%7LC:<3=:7;D%67;=836=?9%L?E78?%=>?%O38S%7X*'%
5%['0!,(*,%19%I,+"%Y'-L*!-*=%OA:QPU:=%8!#9%:P=%:>B>?9e
&
74(2&CCDF2&3*&'#$0&)+&")$$@&60(04%)4#(%)*&)4&%584)1050*(&
)+&(S0&(S%*.&-0+)40&(S0&#44%1#"&)+&(S0&6#Q&'04(#%*@&(S0&49"0$&%*&
74(%'"0&CCED&$S#""&-0&)-$041062
!,VVJKMW
&
/9"0$&%*&!#$0&)+&:,GG@&L0(04%)4#(%)*@&)4&3584)1050*(
234% -7=?%=>?%687DDV8?E?8?;6?%=7%58=S%//0d%7E%=>?%!:F:C%!79?S
2L4% EF,0!-$G%"E%8%:D%DHQQ7D?9%=7%9?C:F?8%=7%Z%3%Q38=:6HC38%638%
7;%A38S%/R%JUU1%LH=%=>?%638%:D%9?D=87P?9%LP%3%E78=H:=7HD%
?F?;=%7;%'?6S%/1R%JUUMR%=>?%7LC:<3=:7;%:D%?Z=:;<H:D>?9S
JMK
%
58=S%//d1
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
74(2&CCD=2&7*Q(S%*.&8#%6&)4&60"%10406&-0+)40&(S0&#44%1#"&
)+&(S0&804%)6@&(S0&)-"%.)4&-0%*.&9*#R#40&)+&(S0&804%)6&)4&-0;
"%01%*.&(S#(&(S0&)-"%.#(%)*&S#$&-0')50&690&#*6&605#*6#-"0@&
5#Q&-0&40')10406@&R%(S&(S0&+49%($&#*6&%*(040$($2
!,VVJKMW
XCY& H#Q50*(&)4&L0"%104Q&V#60&N0+)40&(S0&744%1#"&)+&(S0&H0;
4%)6
234% 8%O3D%DHQQ7D?9%=7%Q3P%Z%,/RUUURUUU%7;%'?6S%K/R%JUU1S%bH=%
L?C:?F:;<% =>3=% =>?% 7LC:<3=:7;% O3D% 9H?% 3;9% 9?I3;93LC?%
3C8?39P%7;%'?6S%K/R%JUUMR%8%Q3:9%Z%=>?%,/RUUURUUU%7;%D3:9%
93=?S%+7O%IH6>%I3P%8%8?67F?8%E87I%Z=%D3P%7;%gH;S%KUR%
JUU1f
%
%
8VD9G%8%I3P%8?67F?8%E87I%Z%7;%gH;S%KUR%JUU1R%=>?%
3I7H;=%7E%,/RUUURUUU%O>:6>%>39%L??;%Q8?I3=H8?CP%Q3:9%
QCHD%7E%67H8D?%:;=?8?D=%3=%=>?%C?<3C%83=?%E87I%g3;S%/R%JUU1R%
=7%gH;S%KUR%JUU1R%Nk%7E%,/RUUURUUU%l%,NURUUU%2:;=?8?D=%E78%
7;?%P?384S%,NURUUU%m%J%l%,KURUUU%2:;=?8?D=%E78%=>?%>3CEVP?38%
Q?8:79%E87I%g3;S%/R%JUU1R%=7%gH;?%KUR%JUU14S%.7%8%I3P%8?V
67F?8%3%=7=3C%7E%,/RUUURUUU%E87I%ZS%&E%67H8D?R%O>?;%'?6S%K/R%
JUU1%!%;3CCP%388:F?DR%8%:D%DHQQ7D?9%=7%<:F?%Z%=>?%,/RUUURUUUS%
+?8?%8%:D%3CC7O?9%=7%8?67F?8%O>3=%>39%L??;%:;%<779%E3:=>%
Q8?I3=H8?CP%Q3:9R%QCHD%:;=?8?D=%7E%67H8D?S
2L4% .HQQ7D?%:;%=>?%Q8?6?9:;<%Q87LC?I=%8%>39%Q3:9%Q8?I3=H8?CP%
^;7O:;<%EHCCP%O?CC%7E%=>?%?Z:D=?;6?%7E%=>?%=?8IR%>7O%IH6>%
63;%8%8?67F?8f
%
%
8VD9G%8%63;%8?67F?8%;7=>:;<S%*>?%8?3D7;%:D%=>?%C3O%97?D%
;7=%<:F?%>:I%DH6>%3%8:<>=S%*7%L?%3LC?%=7%8?67F?8R%8G
/4%
IHD=%>3F?%L??;%H;3O38?%7E%=>?%Q?8:79e%78
J4%
IHD=%>3F?%L?C:?F?9%=>3=%=>?%7LC:<3=:7;%>3D%L?67I?%
9H?%3;9%9?I3;93LC?S
%
.:;6?%8%9:9%;7=%>3F?%?:=>?8%7E%=>?D?%=O7%67;9:=:7;DR%>?%
63;;7=%8?67F?8S%*>?%8?3D7;%E78%=>?D?%:IQC:?9%Q87F:D:7;D%7E%
=>?%C3O%:DR%3E=?8%3CCR%8%:D%DHQQ7D?9%=7%Q3P%Z=%D77;?8%78%C3=?8%
D7%O>P%C?=%>:I%8?67F?8%D:;6?R%3;PO3PR%:=%O3D%8\4%E3HC=%=>3=%
Q8?I3=H8?%Q3PI?;=%>39%L??;%I39?S%&E%67H8D?R%"()$#%$*+/$#%
'2%+/$%&'()*+*'(4%-*4+$)%/$#$*(,6'1$=%?F?;%:E%8%:D%L7H;9%=7%
JMM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d1
Q3P%Z%D77;?8%78%C3=?8R%D=:CC%:=%:D%H;WHD=%=7%9?Q8:F?%8%:;%=>?%
I?3;=:I?%7E%=>?%I7;?P%3D%O?CC%3D%:=D%HD?%2:;=?8?D=4S
264%
&;%A38S%/R%8%D7C9%Z%3%Q38=:6HC38%3H=7I7L:C?S%"=%O3D%3<8??9%
=>3=%Q3PI?;=%3;9%9?C:F?8P%O?8?%=7%L?%I39?%7;%A38S%K/S%
bH=%7;%A38S%/1R%8%9?C:F?8?9%=>?%638%3;9%Z%Q3:9%E78%D3:9%638S%
,?;9:;<%=>?%388:F3C%7E%A38S%K/R%D>7HC9%Z%8?=H8;%=>?%638%QCHD%
93I3<?D%3;9%D>7HC9%8%8?=H8;%=>?%Q8:6?%QCHD%:;=?8?D=f
%
%
8VD9G% *>?8?% D>7HC9% L?% ;7% 8?=H8;:;<% E78% =O7% 8?3V
D7;DG
/4%
"=%:D%=8H?%=>3=%A38S%K/%O3D%=>?%93=?%D?=%E78%Q3PI?;=%7E%
=>?%Q8:6?%3;9%9?C:F?8P%7E%=>?%638R%LH=%=>?%DHLD?XH?;=%
36=:7;D%7E%=>?%Q38=:?D%67;6?8;?9%D>7O%=>3=%L7=>%:IV
QC:6:=CP%3<8??9%=7%=>?%6>3;<:;<%7E%=>?%93=?%DQ?6:!%?9%
Y%E87I%A38S%K/%=7%A38S%/1S
J4%
(F?;%:E%=>?8?%>39%L??;%;7%6>3;<?%:;%=>?%93=?%3<8??9%
HQ7;R%D=:CC%:=%IHD=%L?%8?I?IL?8?9%=>3=%=>?%Q87LC?I%
>?8?%:D%7;?%O>?8?%O?%38?%9?3C:;<%;7=%.*+/%+.'%"(*A
-,+$#,-% '6-*J,+*'(49% 5;9% O?% 3C8?39P% ^;7O% =>3=% :;%
8?6:Q8763C%7LC:<3=:7;DR%Q?;9:;<%=>?%EHC!%CCI?;=%7E%=>?%
67;9:=:7;%23;9R%=>?8?E78?R%3CD7%Q?;9:;<%=>?%+$#0*(,A
+*'(%'2%+/$%!$#*')4%=>?%:;=?8?D=D%3;9%E8H:=D%38?%9??I?9%
=7%&'0!$(4,+$%?36>%7=>?8R%O>?;%=>?8?%>3D%L??;%Q8?V
I3=H8?%Q?8E78I3;6?%7;%L7=>%D:9?DS%78#+9%::<C%'2%+/$%
[*1*-%[')$?9%7D$$%<%T,(#$4,%:;;?9
X?Y& H04%)6&Z%(S%*&ZS%'S&/0')104Q&V#Q&N0&V#60
234% c:=>:;%O>3=%Q?8:79%IHD=%8?67F?8P%L?%I39?%:E%=>?%9?L=78%
)*)%('+%L('.%=>3=%Q3PI?;=%O3D%('+%5$+%)"$f
%
%
8VD9G%b?E78?%=>?%9?L=%I3=H8?D%28?<389:;<%O>3=%O3D%
Q3:94S%E1$(%,2+$#%I3=H8:=P%28?<389:;<%:;=?8?D=4%E78%3E=?8%3CC%
=>?%68?9:=78%O3D%:;%b5'%)5"*+S%7Z"+%=>?%8:<>=%Q8?D68:L?D%
1% P?38D% 3E=?8% Q8?I3=H8?% Q3PI?;=S4% 7D$$% 8#+9% ::@>=% [*1*-%
[')$?9
2L4% c:=>:;%O>3=%Q?8:79R%*2%,(5=%IHD=%8?67F?8P%L?%I39?%:E%=>?%
9?L=78%L($.%=>3=%Q3PI?;=%O3D%('+%5$+%)"$f
%
%
8VD9G% -7% 8?67F?8P% 63;% L?% >39% 7E% O>3=% >3D% L??;%
Q3:9R% IH6>% C?DD% 63;% =>?8?% L?% 8?67F?8P% 7E% :;=?8?D=S% *>:D%
:D%=8H?%O>?=>?8%=>?%68?9:=78%:D%:;%<779%78%L39%E3:=>R%D:;6?%
JM1
%
58=S%//dN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=>?%:IQ78=3;=%=>:;<%:D%=>?%L('.-$)J$%LP%=>?%9?L=78%7E%=>?%
,@(A5*i@(-(..%2"IQC:?9%c3:F?84S
XBY& H40$958(%)*&(S#(&L0-()4&k*0R&)+&H405#(940*0$$
%
%
*>?% C3O% Q8?DHI?D% =>3=% =>?% 9?L=78% ^;?O% 7E% =>?% Q8?I3V
=H8?;?DDS%*>:D%I3PR%>7O?F?8R%L?%8?LH==?9%LP%>:IS%7<%T,(#$4,%
:;@?9
XFY& L%++040*(&V0#*%*.$&)+&HS4#$0$
%
%
-7=?%=>3=%=>?%Q>83D?D%i.*+/*(%<%5$,#4j%3;9%i.*+/*(%+/$%<+/%
5$,#j%>3F?%9:EE?8?;=%I?3;:;<DS
%
&
74(2&CCD<2&ZS0*0104&%*&#*&)-"%.#(%)*&#&804%)6&%$&60$%.;
*#(06@&%(&%$&840$9506&()&S#10&-00*&0$(#-"%$S06&+)4&(S0&-0*0!&(&
)+&-)(S&(S0&'406%()4&#*6&(S0&60-()4@&9*"0$$&+4)5&(S0&(0*)4&)+&
(S0& $#50& )4& )(S04& '%4'95$(#*'0$& %(& $S)9"6& #880#4& (S#(& (S0&
804%)6&S#$&-00*&0$(#-"%$S06&%*&+#1)4&)+&)*0&)4&)+&(S0&)(S042
!,VVJKMW
XCY& b)4&ZS)$0&N0*0!&(&(S0&M045&\#$&N00*&J$(#-"%$S06
%
%
N$($#,-%X"-$
%
%
*?8I%:D%E78%=>?%L?;?!%=%7E%9?L=78%78%68?9:=78S%7T$,(*(JG%*>?%
9?L=78%&,(('+%!,5%!#$0,+"#$-5%3;9%=>?%68?9:=78%&,(('+%)$0,()%
!#$0,+"#$-54S
%
%
cVSWEG%*>:D%58=:6C?%3QQC:?D%7;CP%O>?8?%=>?%Q38=:?D%=7%3%
67;=836=%=>?ID?CF?D%>3F?%!%Z?9%3%Q?8:79R%3;9%;7=%=7%3%63D?%O>?8?%
=>?%Q38=:?D%>3F?%3H=>78:T?9%=>?%['"#+%=7%!%Z%3%8?3D7;3LC?%=?8IS%
7S#*+%19%Z,-#')J,(%['9=%O+)9=%OA:QQCC=%I$&9%Q>=%:>B>?9e
X?Y& J`'08(%)*$%2:E%=>?8?%L?%DH6>%*(+$(+?
234% *?8I% :D% E78% =>?% 6$($!%+% '2% )$6+'#% ,-'($9% cT$,(*(JG% +?% :D%
8?XH:8?9%=7%Q3P%7;CP%3=%=>?%?;9R%LH=%>?%I3P%Q3P%?F?;%L?V
E78?S%EF,0!-$G%I%O:CC%Q3P%[%`O:=>:;%N%P?38DSa%+?8?%I%63;%
Q3P%?F?;%3E=?8%7;?%O??^%E87I%=>?%=:I?%=>?%7LC:<3=:7;%O3D%
67;=836=?9S%7D$$%D*,%19%['"#+%'2%8!!$,-4=%@<%S9N9%BQB>?9%I%
I3P% 3CD7% 8?D:D=% Q8?I3=H8?% 9?I3;9% E78% 67IQC:3;6?S% 7D$$%
D,04'(%19%8(),-%)$%8J"*-,=%OAB>PQ=%H$69%QB=%:>B@?9e
JMN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//dN
2L4% *?8I% :D% E78% =>?% L?;?!%=% 7E% =>?% 68?9:=78% 3C7;?S% 2T$,(*(JG%
!8?9:=78%63;%9?I3;9%3=%3;P%=:I?%$1$(%6$2'#$%=>?%=?8I%?ZV
Q:8?DR%3;9%>?%&,(('+%6$%&'0!$--$)%=7%366?Q=%Q3PI?;=%E87I%
=>?%9?L=78%Q8:78%=7%=>?%D=:QHC3=?9%Q?8:79S
%
%
EF,0!-$G% I% Q87I:D?9% =7% Q3P% 7;% '?6S% /R% JUU1R% O:=>%
=>?%68?9:=78%<:F?;%=>?%8:<>=%=7%9?I3;9%Q?8E78I3;6?%?F?;%
L?E78?%D3:9%93=?S4
XBY& !%4'95$(#*'0$&ZS%'S&3*6%'#(0&b)4&ZS)5&(S0&N0*0!&(&)+&
(S0&M045&3$
234% H'#%+/$%6$($!%+%'2%6'+/
/4%
c>?;%=>?8?%:D%*(+$#$4+%D=:QHC3=?9%2+?8?%=>?%&#$)*+'#%
:D%:;=?8?D=?9%:;%=>?%=?8I%L?63HD?%7E%=>?%:;=?8?D=D%=>3=%
O7HC9%L?%?38;?9e%=>?%9?L=78%:D%:;=?8?D=?9%L?63HD?%>?%
:D%<:F?;%?;7H<>%=:I?%=7%Q3P4S%7D$$%D,#0*$(+'%19%d*-A
-,4$m'#=%@P%K/*-9%<<U?9
J4%
c>?;%=>?%68?9:=78%:D%:;=?8?D=?9%:;%^??Q:;<%>:D%I7;?P%
D3E?CP% :;F?D=?9% 2=>HD% I3^:;<% =>?% 9?L=78% 3% D78=% 7E%
9?Q7D:=78P4R% 78% O>?;% =>?% 68?9:=78% O3;=D% =7% Q87=?6=%
>:ID?CE%E87I%=>?%93;<?8D%7E%6H88?;6P%9?Q8?6:3=:7;S
&
&
K%')"#$@&0(&#"2&12&V#(%#$@&0(&#"2
ED&HS%"2&C?<
%
%
H8[WDG%'H8:;<%=>?%g3Q3;?D?%766HQ3=:7;%2gH;S%JdR%/dMM4R%I%
L7887O?9%,KURUUU%E87I%[%:;%g3Q3;?D?%6H88?;6P%3=%Nk%:;=?8?D=%!$#%
,(("0S%A3=H8:=P%Y%7;%3;P%93P%`O:=>:;%=>?%N=>%P?38a%7('+%.*+/*(%
;%5$,#4R%LH=%9H8:;<%=>?%N=>%P?384e%:;%7=>?8%O789DR%L?=O??;%Y"(9%
PU=%:>@>%,()%Y"(9%Q>=%:>BU9%&;%gHCS%/1R%/dMMR%I%O3;=?9%=7%Q3P%
=>?%O>7C?%3I7H;=R%3;9%?F?;%7EE?8?9%=7%Q3P%:;=?8?D=%E78%1%P?38DS%
2(F:9?;=CPR%I%O3D%3O38?%7E%=>?%9?68?3D:;<%QH86>3D:;<%F3CH?%7E%
=>?%Q?D7%3=%=>3=%=:I?4S%R44"$G%!3;%[%L?%67IQ?CC?9%=7%366?Q=f
%
%
`EOIG% -7R% [% 63;;7=% L?% 67IQ?CC?9% =7% 366?Q=S% +?8?R% =>?%
L?;?!%=% 7E% =>?% =?8I% :D% E78% L7=>% I% 3;9% [% Y% E78% IR% L?63HD?% >?%
67HC9%HD?%=>?%I7;?P%E78%3=%C?3D=%1%P?38De%3;9%[=%L?63HD?%[%>39%
O:D?CP%63C6HC3=?9%=>3=%3E=?8%1%P?38DR%=>?%6>3;6?D%O?8?%=>3=%=>?%
g3Q3;?D?%3D%O?CC%3D%=>?%g3Q3;?D?%6H88?;6P%O7HC9%;7%C7;<?8%L?%:;%
JM]
%
58=S%//dN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=>?%,>:C:QQ:;?DS%A78?7F?8R%E78%[%=7%366?Q=%1%P?38D_%*(+$#$4+%O7HC9%
L?%E78%>:I%=7%F:7C3=?%=>?%iDH8P%$3OR%O>:6>%3CC7OD%Q3PI?;=%7E%
39F3;6?%:;=?8?D=%E78%7;CP%'($%5$,#9
2L4% H'#%+/$%6$($!%+%'2%+/$%)$6+'#
/4%
c>?;% =>?% C73;% :D%.*+/'"+% *(+$#$4+=%=>:D% :D%J$($#,--5%
7;CP%E78%=>?%L?;?!%=%7E%=>?%9?L=78S
%
%
cVSWEG% *>:D% 8HC?R% >7O?F?8R% :D% -&*% 3LD7CH=?R%
E78%?F?;%:E%=>?%68?9:=78%8?6?:F?D%('%:;=?8?D=R%D=:CC%>?%
I3P%>3F?%?;=?8?9%:;=7%=>?%67;=836=%=7%Q87=?6=%>:ID?CE%
3<3:;D=%=>?%DH99?;%9?6C:;?%:;%=>?%QH86>3D:;<%Q7O?8%
7E%=>?%6H88?;6PS%78J"*-,#%19%T*#,(),=%OA:;B:U=%V'19%
Q>=%:>;:?9e
J4%
c>?;%Q3PI?;=%:D%=7%L?%I39?%i.*+/*(j%3%6?8=3:;%Q?V
8:79% E87I% 93=?% 7E% 67;=836=S% 7D$$% D,04'(% 19% 8J"*-,=%
4"!#,?9
264%
H'#%+/$%6$($!%+%'2%+/$%&#$)*+'#
%
%
[iDH3CCPR%=>:D%7;CP%?Z:D=D%:E%=>?8?%:D%3%D=:QHC3=:7;%=7%
=>:D%?EE?6=R%3D%O>?;%=>?%67;=836=%Q87F:9?D%=>3=%('%!,50$(+%
4/'"-)%6$%0,)$%=:CC%3E=?8%3%6?8=3:;%<:F?;%Q?8:79S%7D$$%S&/',%
19% O'!$k=% c[989e% BU% S9N9% B<C:=% I$&9% :>B@?9% 566?Q=3;6?% 7E%
Q38=:3C%Q3PI?;=%?F?;%L?E78?%=>?%?ZQ:83=:7;%7E%=>?%Q?8:79%
I?3;D%3%.,*1$#%7;%=>?%Q38=%7E%=>?%68?9:=78%7E%>:D%8:<>=%=7%
8?EHD?% Q3PI?;=% L?E78?% =>?% ?;9% 7E% D3:9% Q?8:79S% 7O'!$k% 19%
S&/',=%OAC>BB=%T,5%PU=%:>B<?S\
XFY& G)50&L0'%606&!#$0$
&
&
G#45%0*()&12&e%""#$0l)4
FB&HS%"2&EE>
&
%
H8[WDG%8%L7887O?9%I7;?P%E87I%ZR%3;9%QC?9<?9%3%I?93C%
O:=>%9:3I7;9D%3D%D?6H8:=PS%"=%O3D%3<8??9%=>3=%8%O3D%=7%Q3P%=>?%
I7;?P%C73;?9%O:=>%:;=?8?D=%3=%=>?%?;9%7E%7;?%P?38S%R44"$G%b?E78?%
=>?%?ZQ:83=:7;%7E%=>?%7;?VP?38%Q?8:79R%:D%8%3CC7O?9%=7%Q3P%>:D%9?L=%
3;9%8?67F?8%=>?%I?93C%QC?9<?9f
%
%
`EOIG%-7R%H;C?DD%Z%67;D?;=DR%E78%=>?%7;?VP?38%Q?8:79%O3D%
?D=3LC:D>?9%E78%=>?%L?;?!%=%7E%L7=>S
JM0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//dN
&
&
H#$()4&12&O#$8#4
?&HS%"2&=D?
%
%
c>?;%3%67;=836=%Q87F:9?D%E78%D=:QHC3=:7;D%:;%E3F78%7E%=>?%
9?L=78%Y%./*&/%+/$%)$6+'#%/,4%,(5.,5%$1$(%*2%+/$%&'(+#,&+%)'$4%
('+%0$(+*'(%+/$0%]%=>?%=?8I%:D%E78%=>?%9?L=78_D%L?;?!%=S
&
&
3""9$)4%)&#*6&e%6#&12&N9$90.)
:;E??@&CDFD
&
%
H8[WDG%8%L7887O?9%,K1RUUU%E87I%Z%O:=>%:;=?8?D=%7E%0k%
!$#%,(("0S%5D%D?6H8:=PR%8%I78=<3<?9%D?F?83C%Q386?CD%7E%C3;9%:;%
E3F78%7E%ZS%*>?%67;=836=%Q87F:9?9%=>3=%=>?%9?L=%O7HC9%L?%Q3P3LC?%
O:=>:;%3%Q?8:79%7E%K%P?38DR%bi*%=>?%I78=<3<78%O7HC9%;7=%L?%3CV
C7O?9%=7%Q3P%=>?%9?L=%L?E78?%D3:9%=:I?%i-$(..%=>?%I78=<3<??%
Z%D>7HC9%67;D?;=S%*>?%67;=836=%O3D%?;=?8?9%:;=7%:;%/dMKS%$3=?8R%
8%D7C9%=>?%C3;9D%=7%[9%[%3DDHI?9%8\4%7LC:<3=:7;%=7O389%ZS%";%
/dMMR%[%O3D%Q3P:;<%Z%=>?%O>7C?%9?L=R%O:=>%P%5$,#4%:;=?8?D=R%LH=%
Z%8?EHD?9S%*>?8?HQ7;R%[%9?Q7D:=?9%=>?%I7;?P%:;%67H8=%3;9%L7=>%
8%3;9%[%!%C?9%3;%36=:7;%=7%67IQ?C%Z%=7%366?Q=%=>?%Q3PI?;=S%R44"$G%
A3P%[%Q3P%Z%=>?%O>7C?%9?L=%?F?;%L?E78?%=>?%?ZQ:83=:7;%7E%=>8??%
P?38D%3;9%O:=>7H=%=>?%67;D?;=%7E%Z=%Q87F:9?9%=>3=%[%O7HC9%Q3P%
=>?%:;=?8?D=%E78%=>?%O>7C?%=>8??%P?38Df
%
%
`EOIG%-7S%&E%67H8D?R%=>?%7LC:<3=:7;%67HC9%L?%Q3:9%O:=>:;%
=>8??%P?38DR%LH=%=>?%67;=836=%#$a"*#$)%Z\4%&'(4$(+%:E%=>?%Q3PI?;=%
O3D%=7%L?%I39?%L?E78?%=>?%?;9%7E%=>8??%P?38DS%.:;6?%Z%9:9%;7=%
67;D?;=R%:=%:D%6C?38%=>3=%[%63;;7=%P?=%Q3PS%b7=>%67;9:=:7;D%IHD=%
L?%<:F?;%?EE?6=S%2I*44$(+*(JG%B?DS%"=%:D%=8H?%=>3=%Z\4%67;D?;=%:D%
8?XH:8?9%:E%Q8?I3=H8?%Q3PI?;=%:D%=7%L?%I39?%LH=%?F:9?;=CPR%=>?%
7;CP%QH8Q7D?%7E%=>:D%O3D%=7%I3^?%DH8?%=>3=%=>?%:;=?8?D=%E78%K%
P?38D%O7HC9%L?%Q3:9e%7=>?8O:D?R%=>?8?%O7HC9%L?%=>?%93;<?8%=>3=%
=>?% 9?L=78% O7HC9% Q3P% Q8?I3=H8?CP% 3;9% <:F?% 3% C?DD?8% 3I7H;=%
7E%:;=?8?D=S%.:;6?%=>:D%E?38%>3D%L??;%?C:I:;3=?9%LP%=>?%7EE?8%=7%
Q3P%:;=?8?D=%E78%=>?%O>7C?%=>8??%P?38DR%=>?8?%:D%('%#$,4'(%O>P%
Z% D>7HC9% ;7=% ;7O% 366?Q=S% ";% =>:D% O3PR% L7=>% 67;9:=:7;D% 7E% =>?%
67;=836=%38?%L?:;<%<:F?;%?EE?6=S%*>?%I3W78:=P%9:D8?<389D%=>?%!%8D=%
67;9:=:7;R%3;9%<:F?D%?EE?6=%7;CP%=7%=>?%D?67;9S4
&
&
,'S)#&12&:)80a
X!272Y&=>&,2O2&=EPC@&L0'2&CD=F
&
%
H8[WDG%I%L7887O?9%E87I%[%3%DHI%7E%I7;?P%D?6H8?9%LP%3%
I78=<3<?S%*>?%67;=836=%D=:QHC3=?9%=>3=%=>?%9?L=78%I%.'"-)%('+%
JMd
%
58=S%//d]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
6$%,--'.$)%+'%Q3P%=:CC%3E=?8%=>?%?;9%7E%=O7%P?38D%E87I%=>?%93=?%
=>?% 67;=836=% O3D% Q?8E?6=?9S% b?E78?% =>?% ?;9% 7E% =>?% =O7% P?38DR%
>7O?F?8R%I%7EE?8?9%=7%Q3P%!,#+*,--5R%3;9%[%,&&$!+$)%=>?%Q38=:3C%
Q3PI?;=S%R44"$G%c>3=%:D%=>?%$22$&+%7E%[\4%366?Q=3;6?%7E%=>?%Q8?V
I3=H8?%Q38=:3C%Q3PI?;=f
%
%
`EOIG%c>:C?%3=%=>?%L?<:;;:;<%:=%O3D%6C?38%=>3=%=>?%68?9:V
=78%>39%=>?%L?;?!%=%7E%=>?%=?8IR%>:D%366?Q=3;6?%7E%=>?%Q8?I3=H8?%
Q38=:3C%Q3PI?;=%:IQC:?D%>:D%8?;H;6:3=:7;%7E%=>?%L?;?!%=%7E%=>?%
=?8IS%+?%>39%=>?%8:<>=%=7%8?EHD?R%LH=%>?%9:9%;7=S
&
&
K08)59'0*)&12&K#4'%$)@&0(&#"2
EF&HS%"2&=F?
&
&
H8[WDG%5%D=:QHC3=:7;%:;%3%67;=836=%7E%I78=<3<?%Q87F:9?9%
=>3=%=>?%I78=<3<78%D>7HC9%;7=%Q3P%7EE%=>?%I78=<3<?%O>:C?%=>?%O38%
2c78C9%c38%""4%O3D%<7:;<%7;S%R44"$G%"D%=>?%D=:QHC3=:7;%F3C:9f
%
%
`EOIG% B?DR% L?63HD?% :=% :D% ;?:=>?8% 67;=838P% =7% C3O% ;78% =7%
I783CDR%QHLC:6%789?8R%3;9%QHLC:6%Q7C:6PS
X=Y& ZS0*&H40$'4%8(%10&H04%)6&N0.%*$
%
%
i;9?8%=>?%-?O%!:F:C%!79?R%3;%36=:7;%HQ7;%3%O8:==?;%67;V
=836=%27E%C73;R%E78%?Z3IQC?4%IHD=%L?%L87H<>=%.*+/*(%:U%P?38D%E87I%
=>?%=:I?%=>?%#*J/+%'2%,&+*'(%,&&#"$49%78#+9%::@@?9%";%7LC:<3=:7;D%
O:=>%=>?%L?;?!%=%7E%=>?%=?8I%<:F?;%=7%L7=>%9?L=78%3;9%68?9:=78R%
=>?%8:<>=%7E%36=:7;%3668H?D%E87I%=>?%?;9%7E%=>?%D=:QHC3=?9%Q?8:79R%
L?63HD?%:=%:D%7;CP%E87I%=>3=%=:I?%=>3=%=>?%7LC:<3=:7;%8?3CCP%L?V
67I?D%?;E786?3LC?S%7D$$%D,#0*$(+'%19%d*--,4$m'#=%@P%K/*-9%<<U?9
&
74(2&CCDP2&3+&(S0&)-"%.#(%)*&6)0$&*)(&!&`&#&804%)6@&-9(&+4)5&
%($&*#(940&#*6&(S0&'%4'95$(#*'0$&%(&'#*&-0&%*+04406&(S#(&#&80;
4%)6&R#$&%*(0*606@&(S0&')94($&5#Q&!&`&(S0&694#(%)*&(S040)+2
&
MS0&')94($&$S#""&#"$)&!&`&(S0&694#(%)*&)+&(S0&804%)6&RS0*&
%(&6080*6$&98)*&(S0&R%""&)+&(S0&60-()42
&
3*&0104Q&'#$0&(S0&')94($&$S#""&60(045%*0&$9'S&804%)6&#$&
5#Q& 9*604& (S0& '%4'95$(#*'0$& S#10& -00*& 84)-#-"Q& ')*(05;
8"#(06& -Q& (S0& 8#4(%0$2& ,*'0& !&`06& -Q& (S0& ')94($@& (S0& 804%)6&
'#**)(&-0&'S#*.06&-Q&(S052
J1U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d]
!,VVJKMW
XCY& ZS0*&(S0&!)94(&V#Q&b%`&#&H04%)6
234% c>?;%=>?%9H83=:7;%9?Q?;9D%HQ7;%=>?%.*--%'2%+/$%)$6+'#9
%
%
EF,0!-$4G
/4%
`O>?;%IP%I?3;D%Q?8I:=%I?%=7%97%D7a%78#+9%::<U=%[*1*-%
[')$?
J4%
`"_CC%Q3P%P7H%C:==C?%LP%C:==C?a%7D$'($%19%H#,(&'=%Q@%K/*-9%
PU>?
K4%
`3D%D77;%3D%Q7DD:LC?a%7N'(k,-$4%19%Y'4$=%P<%S9N9%:CB:h%
;;%K/*-9%P;>?
M4%
`3D%D77;%3D%"%>3F?%I7;?Pa%7K,+$(+$%19%S0$J,=%NX%OA
@@PP=%T,5%Q>=%:>BP?
14%
`:;%Q38=:3C%Q3PI?;=Da%7O$15%`$#0,('4%19%K,+$#('=%:<%
K/*-9%PBP?
N4%
c>?;% =>?% 9?L=78% :D% `:;% 3% Q7D:=:7;% =7% 9:D6>38<?% >:D%
7LC:<3=:7;Sa%7D$$%O")*(J%`,/(%19%O,k,+*(=%$+%,-9=%OA
::P@;=%::B@>=%Y"(9%PU=%:>B>?9
2L4% c>?;%3C=>7H<>%=>?%7LC:<3=:7;%97?D%;7=%!%Z%3%Q?8:79R%:=%63;%
L?%*(2$##$)%=>3=%3%Q?8:79%O3D%:;=?;9?9S
%
%
EF,0!-$4G
/4%
5%67;=836=%=7%67;D=8H6=%3%>7HD?%O>?8?%=>?%Q?8:79%O3D%
;7=%D=3=?9S%7D$$%['(&$!&*'(%19%K$'!-$=%C@%K/*-9%:;P?9
J4%
5%97;3=:7;%O>?8?%C3;9%O3D%<:F?;%Q87F:9?9%6?8=3:;%67;V
D=8H6=:7;%O3D%=7%L?%I39?%7;%:=S%+?8?%=>?%=:I?%O:=>:;%
O>:6>%67;D=8H6=:7;%:D%=7%L?%I39?%D>7HC9%L?%!%Z?9%LP%
=>?%67H8=DS%7Z,##$++'%19%[*+5%'2%T,(*-,=%C%K/*-9%@:;?9
K4%
5;% 7LC:<3=:7;% O:=>% 3;% *()$2*(*+$% Q?8:79R% DH6>% 3D%
O>?;%=>?%=:I?%E78%=>?%Q3PI?;=%7E%3%DHLD68:Q=:7;%7E%
D>38?D%7E%D=76^D%>3D%('+%L??;%!%Z?9S%5D%3%I3==?8%7E%
E36=%:;%3%63D?%C:^?%=>:DR%=>?%7LC:<3=:7;%IHD=%<?;?83CCP%
L?%*00$)*,+$-5%EHC!%CC?9R%<:F:;<%=>?%9?L=78%7;CP%DH6>%
=:I?%3D%I:<>=%#$,4'(,6-5%L?%;?6?DD38P%E78%:=D%36=H3C%
EHC!%CCI?;=S%7D&/$(L$#%19%N$0!$#-$=%OA:;@>>=%8"J9%P:=%
:>;Q?9
J1/
%
58=S%//d]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
M4%
";%3%C?3D?%67;=836=R%=>?%67H8=%IHD=%!%Z%=>?%9H83=:7;%
7E%=>?%C?3D?%O>?;%3%D=:QHC3=:7;%=>?8?7E%8?39D%Y%`*>?%
7O;?8D%7E%=>?%C3;9%H;9?8=3^?%=7%I3:;=3:;%=>?%$3O;%
*?;;:D%!CHL%,4%+$(,(+%,4%-'(J%,4%+/$%C3==?8%D>3CC%D??%
!%=Sa%2+?8?%=>?%67H8=%D3:9%=>3=%58=S%//d]%3QQC:?D%L?V
63HD?%=>?8?%O3D%3%&'(1$(+*'(,-%!$#*')%=>7H<>%:=%O3D%
:;9?!%;:=?R%3;9%;7=%58=S%/N0]%O>:6>%3QQC:?D%7;CP%O>?;%
;7%Q?8:79%O3D%3<8??9%HQ7;R%:;%O>:6>%63D?%=>?%C3O%!%Z?D%
=>?%-$J,-%!$#*')%D=3=?9%:;%58=S%/N0]4%7E-$*k$J"*%19%O,.(%
W$((*4%[-"6=%Q%K/*-9%PU>?h%78%O>?;%=>?%67;=836=%D=3=?D%
`3D%C7;<%3D%=>?%=?;3;=%Q3PD%=>?%D=:QHC3=?9%8?;=Sa%7f"%
[/*(%K*,'%19%O*0%W",&'=%PP%K/*-9%>Q?9
14%
";%3%D3C?%7;%68?9:=R%O>?;%=>?%Q38=:?D%2'#J'+%=7%D=3=?%:;%
=>?%*(1'*&$%=>?%Q?8:79%E78%Q3PI?;=S%7['40*&%O"06$#%
['9=%R(&9%19%T,('*4=%OA:Q;>Q=%Y,(9%PU=%:>;U?9
%
%
2VSWEG%";%I$")'#=%$+%,-9%19%Y9T9%W",4'(%,()%['9=%$+%
,-9=%OA:PC;<=%T,5%PU=%:>;:R%=>?%.HQ8?I?%!7H8=%8HC?9%=>3=%
O>?;%LP%F:8=H?%7E%58=S%//d]R%=>?%67H8=%!%Z?D%=>?%=?8IR%:=%
97?D%('+%=>?8?LP%3I?;9%78%I79:EP%=>?%7LC:<3=:7;%67;6?8;?9%
L?63HD?%D3:9%58=:6C?%:D%!,#+%,()%!,#&$-%7E%3CC%7LC:<3=:7;D%
67;=?IQC3=?9%=>?8?:;S%+?;6?R%O>?;?F?8%=>?%Q?8:79%:D%!%Z?9R%
=>?%67H8=%I?8?CP%?;E786?D%78%6388:?D%7H=%3;%*0!-*$)%4+*!"-,A
+*'(%:;%=>?%67;=836=S4
&
&
&
O40.)4%)&74#*0(#@&3*'2&12&HS%"2&G9.#4&J$(#(0$
L010")850*(&!)2
:;??==E@&V#Q&BC@&CD<P
&
%
H8[WDG%";%3%67;=836=%7E%D3C?R%:=%O3D%3<8??9%=>3=%=>?%
LHP?8%O7HC9%LH:C9%7;%3%Q386?C%7E%C3;9%=>?%.3;=7%'7I:;<7%
!>H86>%3;9%67;F?;=R%O>:C?%=>?%D?CC?8%O7HC9%67;D=8H6=%D=8??=%
L789?8:;<%=>?%C7=S%*>?%D?CC?8%E3:C?9%=7%!%;:D>%=>?%67;D=8H6=:7;%
7E%=>?%D=8??=%7;%'($%D:9?%L?63HD?%D7I?%DXH3==?8D%=>?8?7;%
#$2"4$)% +'% 1,&,+$S% *>?% 6>H86>% O3D% ?F?;=H3CCP% !%;:D>?9S%
";%/d10R%=>?%LHP?8%L87H<>=%=>?%:;D=3;=%63D?%3<3:;D=%=>?%
D?CC?8%=7%67IQ?C%>:I%=7%67IQCP%O:=>%>:D%7LC:<3=:7;R%3;9%=7%
Q3P%93I3<?DS%*>?%9?E?;D?%O3D%=>3=%=>?%7LC:<3=:7;R%=7%67;V
D=8H6=%=>?%D=8??=R%O3D%O:=>%3%Q?8:79R%>?;6?R%=>?%67IQC3:;=%
O3D%!#$0,+"#$=%3D%=>?%LHP?8%IHD=%!%8D=%3D^%=>?%67H8=%=7%
!%Z%=>?%Q?8:79S%";6:9?;=3CCPR%=>?%Q8?D?;6?%7E%=>?%DXH3==?8D%
O3D% ^;7O;% =7% =>?% Q38=:?D% 3=% =>?% =:I?% =>?% 67;=836=% O3D%
J1J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d]
?;=?8?9%:;=7S%A78?7F?8R%=>?8?%O3D%3%Q?;9:;<%63D?%3<3:;D=%
D3:9%DXH3==?8DS%R44"$G%'7?D%=>?%!7H8=%D=:CC%>3F?%=7%!%Z%=>?%
Q?8:79f
%
%
`EOIG%B?DR%:;%F:?O%7E%=>?%^;7OC?9<?%7E%L7=>%Q38=:?D%
7E%=>?%Q8?D?;6?%7E%=>?%DXH3==?8DS%b?63HD?%7E%=>:D%^;7OC?9<?R%
=>?%Q38=:?D%IHD=%>3F?%:;=?;9?9%=7%9?E?8%Q?8E78I3;6?%H;=:C%
=>?%DXH3==?8D%D>3CC%>3F?%L??;%9HCP%?F:6=?9S%*>?%=?8I%!%Z?9%
LP%=>?%67H8=%O3D%6C?38CP%WHD=%`H;=:C%3CC%=>?%DXH3==?8D%38?%
!%;3CCP%?F:6=?9Sa
X?Y& ZS0*&(S0&!)94(&V#Q&K)(&b%`&(S0&M045
234% c>?;%('%+$#0%.,4%4!$&*!%$)%LP%=>?%Q38=:?D%L?63HD?%('%+$#0%
.,4%$1$(%*(+$()$)=%:;%O>:6>%63D?%=>?%7LC:<3=:7;%:D%8?3CCP%3%
!"#$%'($R%3;9%9?I3;93LC?%3=%7;6?R%H;C?DD%7E%67H8D?%3LDH89%
67;D?XH?;6?D%O7HC9%38:D?S%78#+9%::C>=%!,#9%:%'2%+/$%[*1*-%
[')$%65%*0!-*&,+*'(4h%WD=%S&+9%QU=%:<>Q?9
2L4% c>?;%=>?%7LC:<3=:7;%78%;7=?%:D%`Q3P3LC?%7;%9?I3;9Sa%7K$'A
!-$\4%Z,(L%19%S)'0=%;@%K/*-9%:Q;?9
264%
c>?;%3%8?Q3:8?8%7E%=PQ?O8:=?8D%O>7%>3D%L??;%<:F?;%3%=PQ?V
O8:=?8%=7%8?Q3:8%LH=%O:=>7H=%3%Q?8:79%O:=>:;%O>:6>%=7%97%=>?%
O78^R%8?=H8;D%=>?%=PQ?O8:=?8%O:=>7H=%Q?8E78I:;<%3;P%O78^%
=>?8?7;R%>?%>3D%C7D=%O>3=?F?8%8:<>=%>?%78:<:;3CCP%>39%=7%
>3F?%=>?%Q?8:79%!%Z?9%H;9?8%58=S%//d]S%7[/,1$4%19%N'(k,-$4=%
OAQC@B@=%8!#9%PU=%:>CU?9%+?8?R%=>?%7O;?8%7E%=>?%I36>:;?%
>39%:=%8?Q3:8?9%LP%D7I?7;?%?CD?S%*>?%!7H8=%8HC?9%=>3=%=>?%
78:<:;3C%8?Q3:8I3;%63;%L?%8?XH:8?9%=7%Q3P%=>?%Q?8D7;%O>7%
36=H3CCP%I39?%=>?%;??9?9%8?Q3:8DS%*>?%!7H8=%3QQC:?9%58=S%
//N]S%7R6*)9?
294% c>?;%DQ?6:!%6%Q?8:79D%38?%Q87F:9?9%E78%:;%=>?%C3OR%3D%:;%3;%
$0!-'50$(+%&'(+#,&+%O>?8?%:E%;7%Q?8:79%O3D%3<8??9%HQ7;R%
=>?%=:I?%7E%?IQC7PI?;=%9?Q?;9D%HQ7;%=>?%+*0$%2'#%!,50$(+%
'2%4,-,#59
%
EF,0!-$G
&
&
N#440(()&12&G#*(#&V#4%*#
?<&HS%"2&FF>
%
%
H8[WDG%8%O3D%?IQC7P?9%LP%Z%3D%I3;3<?8%7E%3%6:<38%
3;9%6:<38?==?%E36=78PR%=>?%`$3%";DHC38Sa%Z%7LC:<3=?9%>:ID?CE%
J1K
%
58=S%//d]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=7%HD?%8\4%D?8F:6?D%D7%C7;<%3D%8%9:9%;7=%D>7O%9:D67H83<?I?;=%
:;%>:D%O78^S%$3=?8%8%O3D%9:D6>38<?9S%8%67IQC3:;?9%=>3=%
Z%D>7HC9%>3F?%!%8D=%L87H<>=%3;%36=:7;%=7%!%Z%=>?%9H83=:7;%
7E%=>?%Q?8:79%>?8?R%3;9%D:;6?%Z%9:9%;7=R%8%;7O%9?D:8?D%=7%
7L=3:;%93I3<?DS
%
%
`EOIG%*>:D%:D%;7=%3;%7LC:<3=:7;%O:=>%3;%:;=?;=:7;%=7%
<83;=%=>?%9?L=78%3%=?8IR%L?63HD?%=>:D%63D?%:D%<7F?8;?9%LP%
=>?%DQ?6:!%6%Q87F:D:7;D%8?<389:;<%3<?;6PS
%
%
cVSWEG%*>?%?IQC7PI?;=%7E%3%Q?8D7;%O>7%>3D%O78^?9%
E78% 3% F?8P% C7;<% =:I?R% D3P% E87I% /dK/% =7% =>?% =:I?% 7E% >:D%
D?Q383=:7;%:;%/dNJR%&,(('+%L?%9??I?9%=7%L?%7;?%.*+/'"+%3%
9?!%;:=?%Q?8:79e%:;%7=>?8%O789DR%>:D%?IQC7PI?;=%D>7HC9%L?%
67;D:9?8?9%3D%7;?%O:=>%3%Q?8:79R%3;9%=>?8?E78?%>?%63;;7=%
L?%9:DI:DD?9%O:=>7H=%WHD=%63HD?%Y%H;9?8%=>?%*?8I:;3=:7;%
,3P%$3OS%7D$$%O"k'(%D+$1$)'#*(J%['#!'#,+*'(%19%['"#+%'2%
R()"4+#*,-%X$-,+*'(4=%OAP@PUU=%V'19%QQ=%:>C@?9e
%
%
[VSWEG% (IQC7P??DR% ?F?;% O:=>% !%Z?9% =?8IDR% 63;% 78V
9:;38:CP%L?%9:DI:DD?9%E78%36=D%:;:I:63C%=7%=>?%:;=?8?D=D%7E%
=>?%?IQC7P?8S%)78%:;D=3;6?R%=>?%E7CC7O:;<%36=D%7E%4$&"#*+5%
J",#)4%38?R%3I7;<%7=>?8DR%WHD=%63HD?D%E78%9:DI:DD3CG%6>3CV
C?;<:;<%DHQ?8:78%7E!%6?8DR%:;DHL789:;3=:7;R%DC??Q:;<%7;%=>?%
Q7D=DR%9?8?C:6=:7;%7E%9H=PS%7O"k'(%D+$1$)'#*(J%['#!9%19%[RX=%%
OA:C@::=%:<;<:=%:<;<P=%I$&9%P:=%:>;B4\S
&
&
K%'#*)4&V2&N#"(#a#4&12&G#*&V%.90"&N40R04Q
:;?B>P<@&b0-2&?P@&CD<D
&
%
H8[WDG! b3C=3T38% O3D% 3% D3C?DI3;% :;% 6>38<?% 7E% =>?%
'3<HQ3;%O38?>7HD?%7E%=>?%.3;%A:<H?C%b8?O?8PS%+:D%?IV
QC7PI?;=%O3D%.*+/'"+%3%9?!%;:=?%Q?8:79S%b?63HD?%7E%M0%93PD%
7E%3LD?;6?%O:=>7H=%Q?8I:DD:7;%78%Q87Q?8%8?3D7;R%b3C=3T38%
O3D%9:DI:DD?9%LP%=>?%!7IQ3;P%E78%O>3=%O3D%39I:==?9CP%
3% WHD=% 63HD?S% R44"$G% -7O% =>?;R% :D% >?% ?;=:=C?9% =7% =>?% 7;?V
I7;=>%70$4,),?%D?Q383=:7;%Q3P%Q87F:9?9%E78%:;%@5%/U1J%
3D%3I?;9?9f
%
%
`EOIG%-7R%L?63HD?%>:D%9:DI:DD3C%O3D%E78%3%WHD=%63HD?S%
"=%:D%O?CCVD?==C?9%:;%=>:D%WH8:D9:6=:7;%=>3=%:E%=>?%9:DI:DD3C%:D%
E78%3%WHD=%63HD?R%3%Q?8D7;%.*+/'"+%3%9?!%;:=?%=?8I%7E%?IQC7PV
I?;=%:D%('+%?;=:=C?9%=7%7;?%I7;=>%;7=:6?%78%:;%C:?H%=>?8?7E%
J1M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d]
=7%7;?%I7;=>%D3C38PS%"E%3;%?IQC7P??%>:8?9%E78%3%9?!%;:=?%
Q?8:79%63;%L?%9:DI:DD?9%E78%3%WHD=%63HD?%.*+/'"+%=>?%;??9%
7E%Q3P:;<%>:I%3%I7;=>_D%D3C38PR%3;%?IQC7P??%>:8?9%O:=>V
7H=%3%9?!%;:=?%=?;H8?%D>7HC9%('+%L?%3CC7O?9%=7%?;W7P%L?==?8%
8:<>=DS
2?4% c>?;%O>3=%3QQ?38D%=7%L?%3%=?8I%:D%8?3CCP%3%67;9:=:7;%2DH6>%
3D%O>?;%3%9?L=%:D%Q3P3LC?%7;CP%3E=?8%=>?%9?L=78_D%?D=3=?_D%
7=>?8%9?L=D%>3F?%L??;%Q3:9R%E78%=>:D%97?D%;7=%9?Q?;9%HQ7;%
=>?%?Z6CHD:F?%O:CC%7E%=>?%9?L=784S%7D$$%T,#+*(%19%Z'5$#'=%BB%
K/*-9%C;U?9
2E4%
c>?;%=>?%Q?8:79%O:=>:;%O>:6>%=7%3D^%=>?%!7H8=%=7%>3F?%
=>?% Q?8:79% !%Z?9% >3D% :=D?CE% 3C8?39P% Q8?D68:L?9S% 7[,-$#'% 19%
[,##*'(=%$+%,-9=%OA:PQ@;=%T,#9%PU=%:>;U?9
XBY& 788"%'#-%"%(Q&)+&(S0&74(%'"0&()&(S0&,-"%.#(%)*$&!)*(05;
8"#(06&MS040%*
&
%
58=S%//d]%D>7HC9%L?%67;D:9?8?9%3D%Q38=%3;9%Q386?C%278%3HV
=7I3=:63CCP%:;678Q783=?94%:;%3CC%7LC:<3=:7;D%O>:6>%38?%67;=?IV
QC3=?9%=>?8?:;S%*>HDR%E78%?Z3IQC?R%:E%=>?%7LC:<3=:7;%:;=?;9D%=7%
<83;=%3%=?8I%LH=%=>?%=?8I%>3D%;7=%L??;%!%Z?9R%=>?%!7H8=%O:CC%L?%
3H=>78:T?9%=7%97%D7S%,C?3D?%;7=?%=>3=%:E%=>?%!7H8=R%QH8DH3;=%=7%
=>?%58=:6C?R%36=H3CCP%!%Z?D%=>?%=?8IR%=>?%!7H8=%97?D%;7=%3I?;9%78%
I79:EP%=>?%7LC:<3=:7;S%*>?%!7H8=%I?8?CP%?;E786?D%78%6388:?D%7H=%
3;%:IQC:?9%D=:QHC3=:7;%:;%=>?%67;=836=S%7I$")'#%19%Y9T9%W",4'(%
,()%['9=%R(&9=%OA:PC;<=%T,5%PU=%:>;:?9
XFY& MS0&7'(%)*&()&N4%*.&I*604&MS%$&74(%'"0
%
%
*>?%7;CP%36=:7;%O>:6>%=>?%68?9:=78%63;%L8:;<%HQ7;%3;%7LV
C:<3=:7;%=>3=%97?D%;7=%!%Z%3%=?8IR%LH=%O>?8?%3%=?8I%O3D%:;9??9%
:;=?;9?9R%:D%=7%,4L%+/$%&'"#+%+'%!%F%+/$%!$#*')%O:=>:;%O>:6>%=>?%
9?L=78%IHD=%Q3P%E78%=>?%D:IQC?%8?3D7;%=>3=%=>?%EHC!%CCI?;=%7E%=>?%
7LC:<3=:7;%:=D?CE%63;;7=%L?%9?I3;9?9%H;=:C%3E=?8%=>?%67H8=%>3D%
!%Z?9%=>?%Q?8:79%E78%:=D%67IQC:3;6?S%7d),9%)$%_(J4'(%19%O'!$k=%
c[989e%NX%OA:U:<UAX=%T,#9%:U=%:>B@=%BU%S9N9%@Q><?9%*>?%!7H8=%
I3P%!%Z%=>?%Q?8:79R%?F?;%:E%=>:D%>3D%('+%L??;%DQ?6:!%63CCP%3D^?9R%
D7% C7;<% 3D% =>?% Q83P?8R% E78% ?Z3IQC?R% 3D^D% E78% `DH6>% 7=>?8% 3;9%
EH8=>?8%8?C:?E%3D%=7%=>?%67H8=%I3P%3QQ?38%WHD=%3;9%?XH:=3LC?Sa%
7K,"-%D&/$(L$#%19%M*--*,0%H9%N$0!$#-$=%OA:;@>>=%8"J9%P:=%:>;Q?9%
J11
%
58=S%//d]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
5;9%789:;38:CP%DQ?6:!%6%Q?8E78I3;6?%63;;7=%L?%9?I3;9?9%3=%=>?%
4,0$%+*0$%=>3=%=>?%67H8=%:D%3D^?9%=7%!%Z%=>?%Q?8:79%7['(&$!&*'(%19%
K$'!-$=%C@%K/*-9%;Q=%)$&*)$)=%8"J9%:>@P?=%DH6>%36=:7;%E78%DQ?6:!%6%
Q?8E78I3;6?%L?:;<%!#$0,+"#$9%7E-$*k$J"*%19%O,.(%W$((*4%[-"6=%
Q%K/*-9%PU>?9%";%3%63D?R%>7O?F?8R%=>?%.HQ8?I?%!7H8=%>3D%8HC?9%
=>3=%:;%?Z6?Q=:7;3C%:;D=3;6?DR%3D%O>?;%3%Q8:78%3;9%D?Q383=?%36V
=:7;%O7HC9%L?%3%I?8?%E78I3C:=P%3;9%D?8F?%;7%7=>?8%QH8Q7D?%LH=%
9?C3PR%=>?8?%:D%;7%($&$44*+5%7E%DH6>%Q8:78%36=:7;S%7W*J-,'=%$+%,-9%19%
TXX%['9=%*(2#,9?
%
%
R--"4+#,+*'(4G
&
&
M%."#)@&0(&#"2&12&V#*%"#&/#%"4)#6&!)2
DE&HS%"2&CEC
&
%
H8[WDG% *>?% A3;:C3% @3:C8739% !7S% Q3:9% :=D% ?IQC7P??D% 3%
Q38=%7E%=>?%C3==?8_D%D3C38P%9:EE?8?;=:3CD%3;9%Q87I:D?9%=7%Q3P%=>?%
L3C3;6?%3E=?8%`EH;9D%E78%=>?%QH8Q7D?%O7HC9%L?%3F3:C3LC?Sa%*>:D%
O3D% 3;% 36=:7;% LP% =>?% ?IQC7P??D% =7% 8?67F?8% D3:9% L3C3;6?S% &;?%
Q7:;=%83:D?9%LP%=>?%67IQ3;P%O3D%=>3=%3%D?Q383=?%36=:7;%O3D%!%8D=%
;?6?DD38P%=7%!%Z%=>?%9H83=:7;%7E%=>?%=?8I%O:=>:;%O>:6>%:=%O7HC9%
L?%8?XH:8?9%=7%Q3PS
%
%
`EOIG%.:;6?%=>?%=:I?%E78%Q3PI?;=%>?8?%8?3CCP%9?Q?;9?9%7;%
=>?%WH9<I?;=%7E%=>?%b7389%7E%':8?6=78D%7E%=>?%!7IQ3;PR%=>:D%I3P%
L?%67;D:9?8?9%3D%3;%7LC:<3=:7;%O:=>%3%=?8I%O>7D?%9H83=:7;%>3D%
L??;%C?E=%=7%=>?%O:CC%7E%=>?%9?L=78R%D7%=>3=%QH8DH3;=%=7%=>?%C3OR%
=>?%9H83=:7;%7E%=>?%=?8I%D>7HC9%L?%!%Z?9%LP%=>?%67H8=S%5C=>7H<>%
=>?%<?;?83C%8HC?%:D%=7%!%8D=%L8:;<%3%D?Q383=?%36=:7;%E78%=>?%?ZQ8?DD%
QH8Q7D?R%4+*--%3D%:;%=>:D%63D?R%*2%+/*4%!'*(+%/,4%6$$(%#,*4$)%,()%
)*4&"44$)%*(%+/$%!-$,)*(J4%=>?%67H8=%>3D%Q7O?8%,-#$,)5%=7%!%Z%
=>?%=?8IR%O:=>7H=%=>?%;?6?DD:=P%7E%:;D=:=H=:;<%3%D?Q383=?%36=:7;%
Q8?6:D?CP%E78%=>3=%QH8Q7D?R%DH6>%Q8:78%3;9%D?Q383=?%36=:7;%L?V
:;<%3%I?8?%E78I3C:=P%:;%=>:D%63D?R%3;9%D?8F:;<%;7%7=>?8%QH8Q7D?%
LH=%9?C3PS%*>?%=?8I%7E%'($%5$,#%D?=%LP%=>?%C7O?8%67H8=%O3D%=>HD%
3E!%8I?9%LP%=>?%.HQ8?I?%!7H8=S
%
%
2VSWEG%"=%O7HC9%D??I%>?8?%=>3=%=>?%L8:;<:;<%7E%=>?%63D?%=7%
&'0!$-%Q3PI?;=%:D%!#$0,+"#$R%D:;6?%=>?%8:<>=%=7%9?I3;9%67IQC:V
3;6?%3668H?D%7;CP%3=%=>?%+$#0*(,+*'(%7E%=>?%7;?VP?38%Q?8:79%!%Z?9S%
"=%:D%3D%:E%"%3I%L7H;9%=7%Q3P%^%,/RUUU%3=%=>?%$()%7E%=>8??%P?38DS%
&LF:7HDCPR%=>?%63D?%63;%L?%9:DI:DD?9%E78%=>?%63HD?%>3D%;7=%P?=%
3668H?9S4
J1N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d]
%
%
cVSWEG% ";% =>?% 63D?% 7E% K,J$4% 19% Z,4*-,(% O"06$#% ['9%%
7OA:U;C>=%V'19%Q>=%:>B<?=%=>?%.HQ8?I?%!7H8=%>?C9%=>3=%O>?;%3%
O7HC9VL?%QH86>3D?8%>3D%('+%L??;%<:F?;%3%9?!%;:=?%=:I?%C:I:=%3D%
=7%O>?;%>?%D>7HC9%I3^?%=>?%QH86>3D?R%>?%:D%('+%:;%9?E3HC=%?F?;%
:E%=>?%O7HC9VL?%D?CC?8%I3^?D%3%9?I3;9S%c>3=%=>?%C3==?8%IHD=%
97%!%8D=%D>7HC9%L?%=7%3D^%=>3=%=>?%67H8=%!%Z%=>?%=?8IS%7D$$%D$#1$#%
19%E*4$(6$#J%n%['9=%OA:UC@:=%T,#9%Q>=%:>B<?9e
&
&
J8%+#*%)&7"#*)@&0(&#"2&12&!"#4)&!)4(0$@&0(&#"2
:;C=?P<@&K)12&?E@&CD<>
%
%
H8[WDG%*>?%C:=:<3;=D%:;%3%6?8=3:;%6:F:C%63D?%?;=?8?9%:;=7%3%
WH9:6:3C%67IQ87I:D?%O>?8?LP%5C3;7R%O>7%7O?9%!78=?D%3%DHI%7E%
I7;?PR%O7HC9%Q3P%!78=?D%,/K/RUUUR%3;9%!78=?D%O7HC9%:;%=H8;%
67;F?P%=7%>:I%3%6?8=3:;%Q386?C%7E%C3;9S%*>?%!7H8=%789?8?9%=>?%
Q38=:?D% =7% 67IQCP% O:=>% =>?:8% 8?DQ?6=:F?% 7LC:<3=:7;DS% b?63HD?%
5C3;7%E3:C?9%=7%Q3PR%!78=?D%!%C?9%3%I7=:7;%:;%=>?%D3I?%63D?%3D^:;<%
=>?%67H8=%=7%!%Z%3%93=?%7;%O>:6>%=>?%7LC:<3=:7;%7E%5C3;7%D>7HC9%
L?%Q3:9S%*>?%!7H8=%=>?;%!%Z?9%3%Q?8:79%7E%KU%93PD%O:=>:;%O>:6>%
=>?% QC3:;=:EE% D>7HC9% Q3PS% *>?% !7H8=% 3CD7% O87=?% :;% :=D% 789?8% 3%
E78E?:=H8?%6C3HD?R%LP%F:8=H?%7E%O>:6>%=>?%8:<>=%7E%5C3;7%7F?8%=>?%
Q87Q?8=P%O7HC9%L?%E78E?:=?9%:;%63D?%7E%E3:CH8?%=7%Q3P%O:=>:;%D3:9%
KU%93PDS%R44"$G%"D%=>?%WH9:6:3C%789?8%F3C:9f
%
%
`EOIG%B?DR%L?63HD?%:=%O3D%3%D=?Q%;?6?DD38P%=7%<:F?%E786?%
3;9%?EE?6=%=7%:=D%9?6:D:7;S%*>?%WH9<I?;=%L?:;<%L3D?9%7;%3%67IV
Q87I:D?R%:=%O3D%:II?9:3=?CP%?Z?6H=78PR%3;9%=>?%67H8=R%:;%!%Z:;<%
=>?%Q?8:79R%I?8?CP%:IQC?I?;=?9%:=D%9?6:D:7;S%"=%:D%Q8?Q7D=?87HD%
=7%Q8?DHI?%=>3=%;7%Q?8:79%O3D%:;=?;9?9%LP%=>?%Q38=:?DR%3;9%=>3=%
=>?P%:;=?;9?9%=7%C?3F?%=>?%Q?8E78I3;6?%7E%=>?:8%H;9?8=3^:;<%=7%
=>?%O>:I%7E%?:=>?8%Q38=PR%=>?8?LP%E8HD=83=:;<%=>?%F?8P%QH8Q7D?%
7E%=>?%3<8??I?;=S%*>?%E78E?:=H8?%6C3HD?%:D%3CD7%WHD=:!%?9%H;9?8%
=>?%@HC?D%7E%!7H8=%O>:6>%D3PD%=>3=%O>?;%3E=?8%WH9<I?;=%>3D%
L?67I?%!%;3CR%E36=D%3;9%6:86HID=3;6?D%=83;DQ:8?%O>:6>%8?;9?8%
=>?%?Z?6H=:7;%7E%3%WH9<I?;=%:IQ7DD:LC?%78%H;WHD=R%=>?%:;=?8?D=?9%
Q38=P%I3P%3D^%=>?%!7H8=%=7%0')*25%78%,-+$#%+/$%3")J0$(+%=7%/,#A
0'(*k$%+/$%4,0$%.*+/%3"4+*&$%,()%.*+/%+/$%2,&+49
X=Y& c904QW&Z%(S%*&ZS#(&H04%)6&V9$(&(S0&7'(%)*&()&b%`&(S0&
H04%)6&N0&N4)9.S(^
&
%
8VD9G%c:=>:;%=>?%Q87Q?8%Q8?D68:Q=:F?%Q?8:79%E78%4!$&*!%&%!$#A
2'#0,(&$%*2%,%!$#*')%/,)%6$$(%'#*J*(,--5%!%F$)=%LH=%=7%L?%67H;=?9%
J1]
%
58=S%//d]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
E87I% =>?% Q?8E?6=:7;% 7E% =>?% 67;=836=S% *>:D% :D% L?63HD?% =>?% 8:<>=%
?Z:D=D%LP%7Q?83=:7;%7E%C3O%E87I%=>?%I7I?;=%7E%DH6>%3<8??I?;=S%
(Z=83WH9:6:3C%9?I3;9%:D%('+%=>?8?E78?%?DD?;=:3C%E78%=>?%68?3=:7;%
7E%=>?%63HD?%7E%36=:7;%=7%>3F?%=>?%Q?8:79%!%Z?9S%7[,-$#'%19%[,##*'(=%
$+%,-9=%OA:PQ@;=%T,#9%PU=%:>;U?9
%
%
2VSWEG%";%=>:D%63D?R%=>?%67H8=%D3:9%=>3=%=>?%Q8?D68:Q=:F?%
Q?8:79%:D%/U%P?38DS4
%
%
EF,0!-$G%I%O87=?%3%Q87I:DD78P%;7=?%:;%[\4%E3F78%Q87I:DV
:;<%Q3PI?;=%`C:==C?%LP%C:==C?Sa%c:=>:;%/U%P?38D%E87I%=>?%93=?%=>?%
O8:==?;%67;=836=%O3D%Q?8E?6=?9R%[%IHD=%L8:;<%=>?%36=:7;%=7%!%Z%
=>?%=?8IS%"E%=>?%Q?8:79%-,!4$4R%=>?%8:<>=%=7%>3F?%=>?%67H8=%!%Z%=>?%
=?8I%:D%67;D:9?8?9%=7%>3F?%Q8?D68:L?9S%7D$$%N'(k,-$4%19%Y'4$=%;;%
K/*-9%P;>?9
X<Y& \)R&(S0&!)94(&b%`0$&(S0&H04%)6
&
%
*>?%!7H8=%)$+$#0*($4%=>?%Q?8:79%LP%67;D:9?8:;<%=>?%=:I?%
!#'6,6-5%&'(+$0!-,+$)%65%+/$%!,#+*$49%78#+9%::>C?9%&;6?%=>?%Q?8:79%
:D%!%Z?9%LP%=>?%67H8=DR%=>?%Q?8:79%L?67I?D%Q38=%7E%=>?%67;=836=R%
=>HD% =>?% 67H8=D% 63;;7=% 6>3;<?% :=S% 7R6*)9?9% *>?% D3I?% :D% =8H?% :E%
=>?%Q?8:79%:D%!%Z?9%:;%3%67IQ87I:D?%3<8??I?;=%3QQ87F?9%LP%=>?%
!7H8=S%*>:D%:D%L?63HD?%=>?%67IQ87I:D?%3<8??I?;=%36XH:8?D%=>?%
D3I?%E786?%3;9%?EE?6=%3D%=>?%9?6:D:7;S%7I$")'#%19%Y9T9%W",4'(%
n%['9=%R(&9=%OA:PC;<=%T,5%PU=%:>;:?9%*>?%Q38=:?D%I3P%7E%67H8D?%
6>3;<?%=>?%Q?8:79%LP%IH=H3C%3<8??I?;=R%78%I3P%?F?;%9:D8?<389%
=>?%D3I?%7D$$%Z,##$++'%19%[*+5%'2%T,(*-,=%::%K/*-9%;Q@?%:;%O>:6>%
63D?R% =>?% 7LC:<3=:7;% L?67I?D% 3% QH8?% 7;?R% 3;9% 9?I3;93LC?% 3=%
7;6?S%7D$$%8#+9%::>C?9
XPY& 7*&J`#58"0&ZS040&(S0&74(%'"0&3$&K)(&788"%'#-"0
&
&
V%""#40&12&\04*#*6)
O/&==FE>@&A9*2&B>@&CDEP
%
%
*>:D% 58=:6C?% 97?D% ;7=% 3QQCP% =7% 3% 67;=836=% 7E% C?3D?% O>:6>%
!%Z?D%3%Q?8:79R%$9JSR%3;%78:<:;3C%Q?8:79%7E%!%F?%P?38DR%O>:6>%>3D%
?ZQ:8?9R%3;9%O>?8?%=>?%Q38=:?D%8?D?8F?9%=7%=>?ID?CF?D%=>?%E36V
HC=P%7E%3<8??:;<%HQ7;%=>?%Q?8:79%7E%=>?%8?;?O3C%67;=836=S%"=%97?D%
;7=%3CD7%3QQCP%:E%=>?%9H83=:7;%7E%=>?%8?;?O3C%Q?8:79%:D%;7=%C?E=%=7%
=>?%O:CC%7E%=>?%C?DD??%3C7;?R%LH=%83=>?8%=7%=>?%O:CC%7E%=>?%C?DD78%
J10
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d0
3;9%=>?%C?DD??S%58=S%//d]%3QQC:?D%7;CP%O>?8?%3%67;=836=%7E%C?3D?%
6C?38CP%?Z:D=DS%"E%=>?%67;=836=%:D%;7=%8?;?O?9%3=%3CCR%=>?8?%67HC9%
L?%;7%67;=836=%=>?%Q?8:79%7E%O>:6>%67HC9%L?%!%Z?9S
&
74(2&CCDE2&MS0&60-()4&$S#""&")$0&0104Q&4%.S(&()&5#T0&9$0&
)+&(S0&804%)6W
&
XCY& ZS0*&#+(04&(S0&)-"%.#(%)*&S#$&-00*&')*(4#'(06@&S0&
-0')50$&%*$)"10*(@&9*"0$$&S0&.%10$&#&.9#4#*(Q&)4&$0'94%(Q&+)4&
(S0&60-(h
&
X?Y& ZS0*&S0&6)0$&*)(&+94*%$S&()&(S0&'406%()4&(S0&.9#4#*;
(%0$&)4&$0'94%(%0$&RS%'S&S0&S#$&84)5%$06h
&
XBY& ZS0*&-Q&S%$&)R*&#'($&S0&S#$&%58#%406&$#%6&.9#4#*;
(%0$&)4&$0'94%(%0$&#+(04&(S0%4&0$(#-"%$S50*(@&#*6&RS0*&(S4)9.S&
#&+)4(9%()9$&010*(&(S0Q&6%$#880#4@&9*"0$$&S0&%5506%#(0"Q&.%10$&
*0R&)*0$&0_9#""Q&$#(%$+#'()4Qh
&
XFY& ZS0*&(S0&60-()4&1%)"#(0$&#*Q&9*604(#T%*.@&%*&')*;
$%604#(%)*&)+&RS%'S&(S0&'406%()4&#.4006&()&(S0&804%)6h
&
X=Y& ZS0*&(S0&60-()4&#((058($&()&#-$')*62
!,VVJKMW
XCY& ZS0*&(S0&L0-()4&:)$0$&(S0&N0*0!&(&)+&(S0&H04%)6
&
%
A?3;:;<%7E%`=>?%9?L=78%D>3CC%-'4$%?F?8P%8:<>=%=7%I3^?%HD?%
7E%=>?%Q?8:79a%Y%=>?%=?8I%:D%?Z=:;<H:D>?9R%3;9%=>?%7LC:<3=:7;%:D%
9?I3;93LC?%3=%7;6?S
X?Y& J`#58"0$
234% S2% K,#9% :G% I% 7O?D% [% ,/RUUURUUU% 9?I3;93LC?% 7;% gHCS% KR%
JUU0S%";%'?6?IL?8R%JUUMR%I%L?63I?%:;D7CF?;=S%*>?%9?L=%:D%
:II?9:3=?CP%9?I3;93LC?%:;%'?6?IL?8R%JUUM%H;C?DD%I%63;%
7EE?8%DHE!%6:?;=%D?6H8:=PS
%
%
2VSWEG%*>?%:;D7CF?;6P%8?E?88?9%=7%97?D%;7=%>3F?%=7%
L?%WH9:6:3CCP%9?6C38?9e%:=%:D%DHE!%6:?;=%E78%>:I%=7%!%;9%3%>389%
=:I?%Q3P:;<%7EE%>:D%7LC:<3=:7;D%L?63HD?%7E%!%;3;6:3C%8?F?8D?D%
=>3=%>3F?%I39?%>:D%3DD?=D%C?DD%=>3;%>:D%C:3L:C:=:?DS4
J1d
%
58=S%//d0
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
cVSWEG%R2%+/$#$%/,!!$(4%+'%6$%,%0'#,+'#*"0%-,.=%=>?%
9?L=78%O>7%>3QQ?;D%=7%L?%*(4'-1$(+%63;%D=:CC%=3^?%39F3;=3<?%
7E%D3:9%I783=78:HIR%O>:6>%:D%8?3CCP%3%=?8I%78%3;%?Z=?;D:7;%
7E%3%Q?8:79R%L?63HD?%3%I783=78:HI%:D%Q8?6:D?CP%I39?%=7%3:9%
=>7D?%O>7%38?%:;D7CF?;=S%7D$$%W*06'-%19%T,#+*(=%NX%OAP@;>=%
8!#*-%QU=%:>B:?9e
2L4% S2% K,#9% QG% "E% 3% 9?L=78% :;D=?39% 7E% I3^:;<% 3% I78=<3<?% :;%
E3F78%7E%=>?%68?9:=78R%I3^?D%:=%:;%E3F78%7E%3;7=>?8%Q?8D7;R%
>?%E3:CD%=7%EH8;:D>%=>?%Q87I:D?9%<H383;=:?DR%3;9%>?%=>?8?V
E78?%C7D?D%=>?%L?;?!%=%7E%=>?%=?8IS%7I,J"/'5%E(+$#!#*4$4=%
R(&9%19%K'(&$=%$+%,-9=%>;%K/*-9%:B?9%*>?%D3I?%=>:;<%:D%=8H?%:E%
:;D=?39%7E%I78=<3<:;<%=7%=>?%68?9:=78%K%Q386?CD%7E%C3;9R%>?%
I78=<3<?D%7;CP%=O7%7E%=>?IS%7O,!-,(,%19%N,#&/*+'#$(,=%@<%
K/*-9%:;P?9
264%
S2% K,#9% PG% "E% 3% I78=<3<?9% >7HD?% :D% 3CC7O?9% =7% 9?63P% LP%
=>?%I78=<3<78R%>?%:IQ3:8D%=>?%F3CH?%7E%=>?%<H383;=PR%3;9%
=>?8?E78?%=>?%9?L=%L?67I?D%9?I3;93LC?%:II?9:3=?CPS%";%
=>?% D3I?% O3PR% :E% 3% I78=<3<?9% >7HD?% :D% 67IQC?=?CP% C7D=%
29:D3QQ?38D4%:;%3%=PQ>77;R%=>?%9?L=%:D%9H?%3=%7;6?%H;C?DD%
3;7=>?8%I78=<3<?%?XH3CCP%<779%:D%67;D=:=H=?9S%*>:D%:D%=8H?%
?F?;%:E%=>?%C7DD%L?%=>8H%3%2'#+"*+'"4%$1$(+9
&
&
G)*.&b)&#*6&!)2&12&,4%#
BB&HS%"2&B
&
%
H8[WDG%.7;<%)7%3;9%!7S%D7C9%3%C3H;6>%=7%=>?%9?E?;9V
3;=%A3;H?C%&8:3%E78%,/NRUUU%Q3P3LC?%:;%XH38=?8CP%:;D=3CCV
I?;=D%7E%,/RUUU%?36>S%*>?%C3H;6>%O3D%I39?%D?6H8:=P%E78%
=>?%9?L=S%.>78=CP%3E=?8%9?C:F?8P%=7%&8:3R%:=%O3D%D>:QO8?6^?9%
:;%3%D=78IS%R44"$G%.>7HC9%=>?%LHP?8%D=:CC%Q3Pf%"E%D7R%O>?;f
%
%
`EOIG%B?DR%>?%IHD=%D=:CC%Q3PR%D:;6?%=>?%C7DD%7E%=>?%
I7;?P%23%<?;?8:6%=>:;<4%>3D%;7=%L??;%?Z=:;<H:D>?9S%A78?7V
F?8R%=>?%O>7C?%L3C3;6?%L?67I?D%9H?%:II?9:3=?CP%L?63HD?%
=>?% D?6H8:=P% >3D% 9:D3QQ?38?9% ?F?;% =>7H<>% =>8H% 3% 2'#&$%
0,3$"#$R%H;C?DD%>?%63;%DHLD=:=H=?%?XH3CCP%<779%D?6H8:=:?DS%
+?;6?R%=>?%D?CC?8%63;%;7O%67CC?6=%=>?%?;=:8?%L3C3;6?S
294% S2%K,#9%@G%"E%3%67;9:=:7;R%DH6>%3D%;7=%=7%<3ILC?%3;PI78?R%
:D% F:7C3=?9R% 3;P% =?8I% <:F?;% L?63HD?% 7E% =>?% 67;9:=:7;% :D%
C7D=S%"E%3;%?IQC7P??%67II:=D%3%DHLD=3;=:3C%L8?36>%7E%>:D%
JNU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//d0
?IQC7PI?;=% 67;=836=R% =>?% ?IQC7P?8% I3P% =?8I:;3=?% =>?%
?IQC7PI?;=R%?F?;%:E%=>?8?%O3D%3%!%Z?9%9H83=:7;%E78%=>?%W7LS%
7T,#&,*),%19%K/*-9%E)"&9%['9=%OA>>;U=%T,5%Q>=%:>BC%,()%
N'(k,-$4%19%`,-$$#$#=%@C%K/*-9%P<U?9%*>:D%Q383<83Q>%O3D%
3QQC:?9%LP%=>?%67H8=%:;%['#!"4%19%8-*L!,-,%7OAQPCUC=%Y,(9%
:C=%:>;<?9
2?4% S2%K,#9%BG%5;%3==?IQ=%LP%=>?%9?L=78%=7%?D63Q?%:D%3%D:<;%7E%
L39%E3:=>R%>?;6?R%=>?%C7DD%7E%=>?%=?8IS%-7=?%=>3=%:=%:D%;7=%
?DD?;=:3C%=>3=%=>?8?%L?%3;%,&+",-%,64&'()*(JR%=>?%:;=?;=%=7%
97%D7%L?:;<%DHE!%6:?;=S%iQ7;%=>?%7=>?8%>3;9R%3%I?8?%Q>PD:63C%
C?3F:;<R%O:=>%;7%:;=?;=%=7%9?E83H9R%:D%;7=%DHE!%6:?;=S
XBY& \)R&M045$&)4&H04%)6$&740&!)589(06
%
%
`c>?;%=>?%C3OD%DQ?3^%7E%P?38DR%I7;=>DR%93PD%78%;:<>=DR%:=%
D>3CC%L?%H;9?8D=779%=>3=%Y
234% 5$,#4%Y%38?%7E%=>8??%>H;98?9%D:Z=PV!%F?%93PD%?36>e
2L4% 0'(+/4%Y%7E%=>:8=P%93PDe
264%
),54%Y%7E%=O?;=PVE7H8%>7H8De
294% ,()%(*J/+4%Y%E87I%DH;D?=%=7%DH;8:D?S
%
%
`"E%I7;=>D%38?%9?D:<;3=?9%LP%=>?:8%(,0$R%=>?P%D>3CC%L?%67IV
QH=?9%LP%=>?%;HIL?8%7E%93PD%O>:6>%=>?P%8?DQ?6=:F?CP%>3F?S__
%
%
`";%67IQH=:;<%3%Q?8:79R%=>?%!%8D=%93P%D>3CC%L?%?Z6CH9?9%3;9%
=>?%C3D=%93P%:;6CH9?9Sa%78#+9%:P=%[*1*-%[')$?9
%
%
`";%67IQH=:;<%3;P%Q?8:79%7E%=:I?%Q8?D68:L?9%78%3CC7O?9%LP%
=>?D?%@HC?DR%78%LP%789?8%7E%=>?%67H8=R%78%LP%3;P%3QQC:63LC?%D=3=H=?R%
=>?%93P%7E%=>?%36=%78%?F?;=%E87I%O>:6>%=>?%9?D:<;3=?9%Q?8:79%7E%
=:I?%L?<:;D%=7%8H;%:D%=7%L?%?Z6CH9?9%3;9%=>?%93=?%7E%Q?8E78I3;6?%
:;6CH9?9S%"E%=>?%C3D=%93P%7E%=>?%Q?8:79R%3D%=>HD%67IQH=?9R%E3CCD%7;%
3%.3=H893PR%3%.H;93PR%78%3%C?<3C%>7C:93P%:;%=>?%QC36?%O>?8?%=>?%
67H8=%D:=DR%=>?%=:I?%D>3CC%;7=%8H;%H;=:C%=>?%;?Z=%O78^:;<%93PS__%
7D$&9%:=%X"-$%QQ=%:>>C%X"-$4%'2%[*1*-%K#'&$)"#$?9
%
%
`c>?8?%=>?%:;D=8HI?;=%:D%Q3P3LC?%3=%3%!%Z?9%Q?8:79%3E=?8%
93=?R%3E=?8%D:<>=R%78%3E=?8%=>?%>3QQ?;:;<%7E%3%DQ?6:!%?9%?F?;=R%=>?%
=:I?%7E%Q3PI?;=%:D%9?=?8I:;?9%LP%?Z6CH9:;<%=>?%93P%E87I%O>:6>%
=:I?%:D%=7%L?<:;%=7%8H;R%3;9%LP%:;6CH9:;<%=>?%93P%7E%Q3PI?;=Sa%
7D$&9%<B=%V$J'+*,6-$%R(4+#"0$(+4%O,.?9
JN/
%
58=S%//d0
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
cVSWEG%"E%3%67;=836=%D=:QHC3=?9%=>3=%;7%Q3PI?;=%D>3CC%L?%
I39?% H;=:C% 3E=?8% '($% 5$,#% E87I% =>?% 93=?% 7E% 83=:!%63=:7;% 7E% =>?%
*8?3=P%7E%,?36?%67;6CH9:;<%=>?%h8?3=?8%(3D=%5D:3%c38R%LH=%=>?%
9?L=%D>3CC%L?%EHCCP%Q3:9%O:=>:;%3%Q?8:79%7E%+/#$$%5$,#4%67H;=?9%
E87I% =>?% ?ZQ:83=:7;% 7E% =>?% 3E78?I?;=:7;?9% 7;?% P?38% 3E=?8% =>?%
83=:!%63=:7;%7E%=>?%=8?3=PR%=>?%7LC:<3=:7;%L?67I?D%9H?%E7H8%P?38D%
E87I% 8!#9% Q<=% :>BQ=% O>?;% 3% I3W78:=P% 7E% =>?% D=3=?D% D:<;3=78P%
=7%=>?%*8?3=P%7E%,?36?%83=:!%?9%=>?%D3I?R%78%7;%8!#*-%Q>=%:>B;9%
*>?%Q?8:79D%!%Z?9%:;%=>?%67;=836=%63;;7=%L?%67H;=?9%E87I%=>?%
83=:!%63=:7;%LP%=>?%,>:C:QQ:;?D%7E%=>?%=8?3=PR%L?63HD?%=>?%=?8I%
`83=:!%63=:7;a%:D%HD?9%:;%3%<?;?83C%D?;D?%O:=>7H=%3;P%8?E?8?;6?%
=7%3;P%DQ?6:!%6%67H;=8Pe%;?:=>?8%D>7HC9%:=%L?%67H;=?9%E87I%=>?%
E36=H3C%=?8I:;3=:7;%7E%=>?%O38%7;%.?Q=S%JR%/dM1%LP%=>?%D:<;:;<%
7E%=>?%=8?3=P%7E%DH88?;9?8%7E%g3Q3;%:;%*7^P7%b3PR%L?63HD?%=>?%
67;=836=%?ZQ8?DDCP%I?;=:7;D%`83=:!%63=:7;a%7E%=>?%*8?3=P%7E%,?36?%
67;6CH9:;<%=>?%O38S%78#$--,('%19%W*(*'%)$%I'0*(J'=%OA<;C>=%Y"-9%
Q;=%:>BC?9e
XFY& G)50&!#$0$
&
&
V)60$()&G)4%#*)&12&!#4)"%*#&7-#")$@&0(&#"2
EF&HS%"2&?><
!
%
H8[WDG%&;%A38S%/]R%/dK0R%gHC:3;3%5L3C7D%3;9%!387C:;3%
5L3C7D%D7C9%3%Q386?C%7E%C3;9%=7%)?C:Q?%A3;?6C3;<%3;9%A79?D=7%
.78:3;7% 3=% =>?% Q8:6?% 7E% ,]1UR% O:=>% 7Q=:7;% =7% 8?QH86>3D?% =>?%
D3I?R%`3=%3;P=:I?%=>?P%>3F?%=>?%I7;?PSa%&EE?8%=7%8?QH86>3D?%
O3D%I39?%:;%'?6S%/dM/R%LH=%=>:D%67HC9%;7=%L?%6388:?9%7H=%L?63HD?%
7E%=>?%O38S%A3;?6C3;<R%:;%=>?%I?3;=:I?R%6?9?9%3CC%>:D%8:<>=D%=7%
.78:3;7S%";%A3PR%/dMMR%7EE?8%=7%8?QH86>3D?%O3D%3<3:;%I39?R%LH=%
.78:3;7%8?W?6=?9%=>?%7EE?8S%b?63HD?%7E%=>:DR%=>?%F?;978D%25L3C7D4%
67;D:<;?9%29?Q7D:=?94%=>?%Q8:6?%7E%,]1U%O:=>%=>?%67H8=%3;9%!%C?9%
3%67IQC3:;=%E78%8?QH86>3D?S%.78:3;7%8?EHD?9%=7%366?Q=%L?63HD?%
366789:;<%=7%>:I%=>?8?%O3D%;7%?ZQ8?DD%3<8??I?;=%3D%=7%=>?%=:I?%
O:=>:;%O>:6>%=>?%8?QH86>3D?%67HC9%L?%I39?%3;9%366789:;<%=7%
=>?%!:F:C%!79?R%:E%;7%=:I?%E78%8?QH86>3D?%:D%D=:QHC3=?9R%7;CP%3%
Q?8:79%7E%E7H8%P?38D%:D%3CC7O?9S%R44"$G%'7?D%=>?%Q>83D?%`3=%3;P%
=:I?%=>?P%>3F?%=>?%I7;?Pa%?ZQ8?DDCP%D=:QHC3=?%3%=:I?%78%;7=f
%
%
`EOIG%*>?%D=:QHC3=:7;%:;%=>?%67;=836=%Q87F:9?D%=>3=%=>?%
F?;978D%I3P%8?QH86>3D?%=>?%Q87Q?8=P%`3=%3;P=:I?%=>?P%>3F?%=>?%
I7;?PSa%*>?8?%:DR%=>?8?E78?R%3%=:I?%O>:6>%:D%?ZQ8?DDCP%D=:QHC3=?9S%
JNJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%//dd
5;9%=>:D%:D%`3;P=:I?Sa%+?;6?R%=>?%Q?8:79%7E%E7H8%P?38D%I?;=:7;?9%
:;%=>?%!:F:C%!79?%E78%8?9?IQ=:7;%:D%;7=%3QQC:63LC?S%";D=?39R%O?%
3QQCP%3;7=>?8%Q87F:D:7;%7E%=>?%!79?%O>:6>%D3PD%=>3=%:E%=>?%=:I?%
<:F?;%:D%H;C:I:=?9%78%:;9?!%;:=?R%=>?%=:I?%E78%8?9?IQ=:7;%63;;7=%
?Z6??9%=?;%P?38DS%*>?%67H8=%6:=?9%=>?%E7CC7O:;<%63D?D%=7%DHQQ78=%
=>:D%67;=?;=:7;G%`$*#4%'2%Y"0$#'%19%O*k,#$4%7P:%K/*-9%::Q?h%Z,(A
)'(J=%$+%,-9%19%8"4+#*,=%NX%P:@C>=%3;9%O*('%N'(k,J,%19%Y",(%
['=%NX%@CU;:9%.:;6?R%=>?8?E78?R%7EE?8%=7%8?QH86>3D?%O3D%I39?%
F3C:9CP%:;%A3PR%/dMMR%=>?8?%:D%;7%XH?D=:7;%=>3=%8?9?IQ=:7;%63;%
L?%3CC7O?9S
&
&
A)$0&:2&O)50a@&0(&#"2&12&V%.90"&M#-%#
EF&HS%"2&?<D
%
%
H8[WDG%8%D7C9%Z%3%Q386?C%7E%C3;9%E78%,1RUUU%:;%g3Q3;?D?%
I7;?PR% 7;% gH;S% JMR% /dMMS% ";% =>?% 67;=836=% :=% O3D% 3<8??9% =>3=%
O:=>:;%KU%93PD%3E=?8%=>?%?ZQ:83=:7;%7E%7;?%P?38%E87I%gH;S%JMR%
/dMMR%=>?%3E78?I?;=:7;?9%C3;9%I3P%L?%8?9??I?9%78%8?QH86>3D?9%
i4,%J,(*+'%)*(J%/,-,J,j%23=%=>?%D3I?%Q8:6?4R%3;9%=>3=%:E%=>:D%O3D%
;7=%97;?R%Z%O7HC9%L?%=>?%3LD7CH=?%7O;?8%7E%D3:9%C3;9S%b?E78?%
=>?%?ZQ:83=:7;%7E%=>?%Q?8:79%LH=%3E=?8%C:L?83=:7;R%8%>3D%<:F?;%Z%
,1UUR%,>:C:QQ:;?%6H88?;6PR%LH=%Z%8?EHD?9R%D3P:;<%=>3=%>?%O7HC9%
366?Q=% ,1RUUUR% ,>:C:QQ:;?% 6H88?;6PS% b7=>% =>?% =8:3C% 67H8=% 3;9%
=>?% !7H8=% 7E% 5QQ?3CD% <3F?% 3;% ?XH:F3C?;=% F3CH?% =7% =>?% ,1RUUU%
g3Q3;?D?%I7;?P%:;%,>:C:QQ:;?%6H88?;6PS%Z%3QQ?3C?9%=>?%63D?%=7%
=>?%.HQ8?I?%!7H8=%3D^:;<%:;%,>:C:QQ:;?%6H88?;6P%=>?%Q8:6?%E78%
=>?% 8?9?IQ=:7;S% R44"$G% c>3=% 97?D% =>?% Q>83D?% i4,% J,(*+'% )*(J%
/,-,J,j%I?3;Df%.>7HC9%:=%L?%,1RUUUR%g3Q3;?D?%I7;?P%2387H;9%
,]0USJN%366789:;<%=7%=>?%b3CC3;=P;?%D63C?%Y%O>:6>%>3D%L??;%
397Q=?9%E78%?XH:F3C?;=D4f
%
%
`EOIG%*>?%I?3;:;<%7E%=>?%Q>83D?%:D%,1RUUUR%,>:C:QQ:;?%
6H88?;6P%23;9%;7=%I?8?CP%:=D%?XH:F3C?;=4R%L?63HD?%L7=>%Q38=:?D%
>?8?%DQ?6HC3=?9%7;%=>?%93=?%7E%=>?%=?8I:;3=:7;%7E%=>?%O38%3;9%=>?%
C:L?83=:7;%7E%=>?%,>:C:QQ:;?DR%3;9%=>:D%^:;9%7E%67;=836=%Y%3C?3V
=78P%Y%:D%3CC7O?9S
G0'(%)*&B
7:MJ/K7M3eJ&,N:3O7M3,KG
&
74(2& CCDD2& 7& 804$)*& #"(04*#(%10"Q& -)9*6& -Q& 6%++040*(&
840$(#(%)*$&$S#""&')58"0(0"Q&804+)45&)*0&)+&(S052
JNK
%
58=S%/JUU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
MS0&'406%()4&'#**)(&-0&')580""06&()&40'0%10&8#4(&)+&)*0&
#*6&8#4(&)+&(S0&)(S04&9*604(#T%*.2
!,VVJKMW
XCY& j7"(04*#(%10&,-"%.#(%)*d&L0!&*06
&
%
5;%,-+$#(,+*1$%278%2,&"-+,+*1$4%7LC:<3=:7;%:D%7;?%O>?8?%7H=%
7E%=>?%=O7%78%I78?%Q8?D=3=:7;D%O>:6>%I3P%L?%<:F?;R%7;CP%7;?%:D%
9H?S
X?Y& J`#58"0
&
%
`8%O:CC%<:F?%Z%=>:D%638%78%=>:D%8:;<%78%=>:D%E7H;=3:;%Q?;Sa%
8%97?D%;7=%>3F?%=7%<:F?%Z%3CC%=>?%=>8??%=>:;<D%?;HI?83=?9S%*>?%
<:F:;<%7E%7;?%:D%DHE!%6:?;=%=7%D3=:DEP%=>?%7LC:<3=:7;S%
XBY& c904Q
&
%
";% =>?% ?Z3IQC?% <:F?;% 3L7F?R% I3P% 8% 67IQ?C% Z% =7% 366?Q=%
>3CE%=>?%638%3;9%>3CE%=>?%8:;<%2>?;6?R%?D=3LC:D>:;<%67V7O;?8D>:Q%
L?=O??;%8%3;9%Z4f
%
%
8VD9G%-7R%Z%63;;7=%L?%E786?9%=7%366?Q=S%*>?%68?9:=78%63;V
;7=% L?% 67IQ?CC?9% =7% 8?6?:F?% Q38=% 7E% 7;?% 3;9% Q38=% 7E% =>?% 7=>?8%
H;9?8=3^:;<S
&
74(2&C?>>2&MS0&4%.S(&)+&'S)%'0&-0")*.$&()&(S0&60-()4@&9*"0$$&
%(&S#$&-00*&0`840$$"Q&.4#*(06&()&(S0&'406%()42
&
MS0&60-()4&$S#""&S#10&*)&4%.S(&()&'S))$0&(S)$0&840$(#(%)*$&
RS%'S&#40&%58)$$%-"0@&9*"#R+9"&)4&RS%'S&')9"6&*)(&S#10&-00*&
(S0&)-U0'(&)+&(S0&)-"%.#(%)*2
!,VVJKMW
XCY& ZS)&\#$&(S0&/%.S(&)+&!S)%'0
%
%
5D%3%J$($#,-%#"-$=%=>?%8:<>=%L?C7;<D%=7%=>?%)$6+'#9%bP%O3P%
7E%?Z6?Q=:7;%:=%I3P%L?C7;<%=7%=>?%68?9:=78%O>?;%DH6>%8:<>=%>3D%
?ZQ8?DDCP%L??;%<83;=?9%=7%>:IS
JNM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JUU
X?Y& J`#58"0
&
%
8%:D%7LC:<?9%=7%<:F?%Z%=>:D%638%78%=>:D%8:;<%78%=>:D%6:<38?==?%
63D?S%-7=>:;<%:D%D3:9%:;%=>?%67;=836=%3D%=7%O>7%O3D%<:F?;%=>?%
8:<>=% 7E% 6>7:6?S% .HQQ7D?% Z% D?C?6=D% =>?% 638R% :D% 8% L7H;9% LP% =>?%
6>7:6?%I39?f
%
%
8VD9G%-7R%8%:D%;7=%L7H;9%LP%=>?%6>7:6?%I39?%L?63HD?%:=%:D%
;7=%Z%LH=%8%O>7R%:;%=>?%3LD?;6?%7E%3;P%D=:QHC3=:7;R%:D%<:F?;%=>?%
8:<>=%=7%6>77D?%=>?%7LW?6=%>?%9?D:8?D%=7%<:F?S
XBY& c904Q
%
%
";%O>3=%O3P%97?D%3;%7LC:<3=:7;%O:=>%3%=?8I%9:EE?8%E87I%3;%
3C=?8;3=:F?%7LC:<3=:7;%O:=>%8?E?8?;6?%=7%L?;?!%=f
%
%
8VD9G%";%3;%7LC:<3=:7;%O:=>%3%=?8IR%=>?%<?;?83C%8HC?%:D%=>3=%
=>?%=?8I%:D%E78%=>?%L?;?!%=%7E%L7=>%=>?%9?L=78%3;9%=>?%68?9:=78S%
";%3;%3C=?8;3=:F?%7LC:<3=:7;R%>7O?F?8R%=>?%<?;?83C%8HC?%:D%=>3=%
=>?%9?L=78%>3D%=>?%8:<>=%7E%6>7:6?S
XFY& G)50&!#$0$
&
&
7.)*'%"")&12&A#1%04
B>&HS%"2&C?F
%
%
H8[WDG%8%L7887O?9%I7;?P%E87I%ZS%"=%O3D%3<8??9%=>3=%3=%
=>?%I3=H8:=P%7E%=>?%9?L=R%8%O:CC%<:F?%Z%?:=>?8%=>?%DHI%C?;=%78%3%
Q38=:6HC38%>7HD?%3;9%C7=S%R44"$G%"D%=>:D%D=:QHC3=:7;%F3C:9f
%
%
`EOIG%B?DR%=>:D%D=:QHC3=:7;%:D%F3C:9%L?63HD?%:=%:D%D:IQCP%
3;% 3C=?8;3=:F?% 7LC:<3=:7;R% O>:6>% :D% ?ZQ8?DDCP% 3CC7O?9% LP% =>?%
C3OS%*>?%3<8??I?;=%=7%67;F?P%=>?%>7HD?%3;9%C7=%3=%3;%3QQ83:D?9%
F3CH3=:7;%:;%=>?%?F?;=%7E%E3:CH8?%=7%Q3P%=>?%9?L=%:;%I7;?P%3=%:=D%
I3=H8:=P%:DR%>7O?F?8R%:;%7H8%7Q:;:7;%Q?8E?6=CP%F3C:9S%"=%:D%D:IQCP%
3;%H;9?8=3^:;<%=>3=%:E%=>?%9?L=%:D%;7=%Q3:9%:;%I7;?PR%:=%O:CC%L?%
Q3:9%:;%3;7=>?8%O3PS%5D%=>?%67;=836=%8?39DR%=>?%3<8??I?;=%:D%;7=%
7Q?;%=7%=>?%7LW?6=:7;%=>3=%=>?%D=:QHC3=:7;%:D%3%!,&+'%&'00*4'#*'S%
"=%:D%;7=%3;%3==?IQ=%=7%Q?8I:=%=>?%68?9:=78%=7%9?6C38?%3%E78E?:=H8?%
7E%=>?%D?6H8:=P%HQ7;%=>?%E3:CH8?%7E%=>?%9?L=78%=7%Q3P%=>?%9?L=%3=%
I3=H8:=PS% "=% :D% D:IQCP% Q87F:9?9% =>3=% :E% =>?% 9?L=% :D% ;7=% Q3:9% :;%
I7;?P%:=%D>3CC%L?%Q3:9%:;%3;7=>?8%DQ?6:!%6%O3P%LP%=>?%=83;DE?8%
7E% =>?% Q87Q?8=P% 3=% 3% F3CH3=:7;S% &E% 67H8D?R% DH6>% 3;% 3<8??I?;=%
H;8?6789?9R%68?3=?D%;7%8:<>=%*(%#$0R%LH=%3D%L?=O??;%=>?%Q38=:?DR%
JN1
%
58=S%/JUU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
:=%:D%Q?8E?6=CP%F3C:9R%3;9%DQ?6:!%6%Q?8E78I3;6?%LP%:=D%=?8ID%I3P%
L?%?;E786?9%H;C?DD%Q8?F?;=?9%LP%=>?%68?3=:7;%7E%DHQ?8:78%8:<>=D%
:;%E3F78%7E%=>:89%Q?8D7;DS
%
%
*>?%67;=836=%;7O%H;9?8%67;D:9?83=:7;%:D%;7=%DHD6?Q=:LC?%7E%
=>?%:;=?8Q8?=3=:7;%=>3=%=>?%=:=C?%=7%=>?%>7HD?%3;9%C7=%:;%XH?D=:7;%
O3D%=7%L?%=83;DE?88?9%=7%=>?%&#$)*+'#%*!4'%2,&+'%HQ7;%=>?%I?8?%E3:CV
H8?%7E%=>?%9?L=78D%=7%Q3P%=>?%9?L=%3=%:=D%I3=H8:=PS%*>?%7LC:<3=:7;D%
3DDHI?9%LP%=>?%9?L=78D%O?8?%:;%=>?%,-+$#(,+*1$R%3;9%=>?P%>39%
=>?%8:<>=%=7%?C?6=%O>:6>%=>?P%O7HC9%Q?8E78IS%*>?%67;9H6=%7E%=>?%
Q38=:?D%D>7O%=>3=%:=%O3D%;7=%=>?:8%H;9?8D=3;9:;<%=>3=%=>?%8:<>=%
=7%9:D6>38<?%=>?%7LC:<3=:7;%LP%=>?%Q3PI?;=%7E%I7;?P%O3D%C7D=%=7%
=>?%9?L=78D%LP%=>?:8%E3:CH8?%=7%Q3P%=>?%9?L=%3=%:=D%I3=H8:=PS%*>?%
QC3:;=:EE%7Z?%366?Q=?9%3%Q38=:3C%Q3PI?;=%E87I%5;3D=36:7%5C3;7%
78?%:;%/dU0R%D?F?83C%P?38D%3E=?8%=>?%9?L=%I3=H8?9S%*>?%Q83P?8%
7E%=>?%67IQC3:;=%:D%=7%?Z?6H=?%3%67;F?P3;6?%7E%=>?%>7HD?%3;9%C7=%
3E=?8%:=D%3QQ83:D3CR%H;C?DD%=>?%9?E?;93;=D%Q3P%=>?%QC3:;=:EE%=>?%
9?L=%O>:6>%:D%=>?%DHLW?6=%7E%=>:D%36=:7;S
%
%
"=%:D%XH:=?%6C?38R%=>?8?E78?R%=>3=%H;9?8%=>?%=?8ID%7E%=>?%67;V
=836=R%3D%O?%8?39%:=R%3;9%=>?%Q38=:?D%=>?ID?CF?D%>3F?%:;=?8Q8?=?9%
:=R%=>?%C:3L:C:=P%7E%=>?%9?E?;93;=%3D%=7%=>?%67;F?P3;6?%7E%=>?%>7HD?%
3;9%C7=%:D%DHLD:9:38P%3;9%67;9:=:7;3CR%L?:;<%9?Q?;9?;=%HQ7;%=>?:8%
E3:CH8?%=7%Q3P%=>?%9?L=%:;%I7;?PS%"=%IHD=%E7CC7OR%=>?8?E78?R%=>3=%
:E%=>?%36=:7;%=7%8?67F?8%=>?%9?L=%O3D%Q8?D68:L?9R%=>?%36=:7;%=7%
67IQ?C%3%67;F?P3;6?%7E%=>?%>7HD?%3;9%C7=%:D%C:^?O:D?%L388?9R%3D%
=>?%3<8??I?;=%=7%I3^?%DH6>%67;F?P3;6?%O3D%('+%3;%:;9?Q?;9?;=%
Q8:;6:Q3C%H;9?8=3^:;<R%LH=%I?8?CP%3%DHLD:9:38P%,-+$#(,+*1$%!,&+%
8?C3=:;<%=7%=>?%I?=>79D%LP%O>:6>%=>?%9?L=%I:<>=%L?%Q3:9S
&
&
&
,*.&O9#*&!#*&#*6&N#*T&)+&(S0&HS%"2&3$"#*6$
12&!0*(94Q&3*$94#*'0&!)58#*Q
F<&HS%"2&=D?
%
%
H8[WDG%8%:;DH8?9%>:D%>7HD?%O:=>%ZR%3;%:;DH83;6?%67IQ3;PS%
*>?%67;=836=%D=3=?9%=>3=%:E%=>?%>7HD?%:D%93I3<?9%78%9?D=87P?9R%
Z%I3P%?:=>?8%Q3P%E78%=>?%93I3<?%78%>3F?%=>?%>7HD?%8?LH:C=%:;%3%
DHE!%6:?;=%I3;;?8S%R44"$G%"D%=>:D%3;%3C=?8;3=:F?%7LC:<3=:7;f
%
%
`EOIG% B?DS% `"=% 7Q?83=?D% =7% I3^?% =>?% 7LC:<3=:7;% 7E% =>?%
:;DH83;6?% 67IQ3;P% 3;% 3C=?8;3=:F?% 7;?R% =>3=% :D% =7% D3PR% =>3=% :=%
JNN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JU/
I3P%?:=>?8%Q3P%=>?%3I7H;=%:;%O>:6>%=>?%>7HD?%O3D%:;DH8?9%78%
8?LH:C9%:=S__
&
&
&
J_9%(#-"0&3*$94#*'0&!#$9#"(Q&!)2@&3*'2
12&/94#"&3*$94#*'0&#*6&G940(Q&!)2@&3*'2
:;CPFB<@&A#*2&BC@&CD<?
&
%
*>?%=?8I%`E36HC=3=:F?a%278%`3C=?8;3=:F?a4%HD?9%:;%#$*(4"#A
,(&$%67;=836=DR%I?8?CP%9?!%;?D%=>?%8:<>=%7E%=>?%8?:;DH8?8%27;?%
O>7%:;DH8?D%3;%:;DH8?8%3<3:;D=%C7DD4%=7%366?Q=%78%;7=%=7%366?Q=%
Q38=:6:Q3=:7;%7E%7=>?8D%:;%=>?%8:D^%:;DH8?9S%.H6>%3%E36HC=3=:F?%
8?:;DH83;6?%67;=836=%:D%('+%=>?%E36HC=3=:F?%78%3C=?8;3=:F?%7LC:<3V
=:7;%8?E?88?9%=7%:;%=>?%!:F:C%!79?S
%
%
2VSWEG%*>HDR%:;%3%E36HC=3=:F?%8?:;DH83;6?R%=>?%6>7:6?%:D%=7%
,&&$!+%78%#$2"4$e%:;%3%E36HC=3=:F?%78%3C=?8;3=:F?%7LC:<3=:7;R%=>?8?%
:D%3;%'6-*J,+*'(%3;9%=>?%6>7:6?%:D%C:I:=?9%=7%>7O%=>3=%7LC:<3=:7;%
I3P%L?%67IQC:?9%O:=>S4
X=Y& :%5%(#(%)*&)*&(S0&L0-()4d$&!S)%'0
&
%
*>?%9?L=78%D>3CC%>3F?%;7%8:<>=%=7%6>77D?%=>7D?%Q8?D=3=:7;D%
O>:6>%38?G
234% :IQ7DD:LC?
2L4% H;C3OEHC
264%
78%O>:6>%67HC9%;7=%>3F?%L??;%=>?%7LW?6=%7E%=>?%7LC:<3=:7;S%
78#+9%:QUU=%!,#9%Q=%[*1*-%[')$?9
X<Y& J`#58"0
%
%
8%:D%L7H;9%=7%<:F?%Z%3%Q36^%7E%D>3LHR%78%3%L7==C?%7E%I:C^%
=3^?;%E87I%3%<73=R%78%3%Q38=:6HC38%6:<38?==?%63D?R%78%3%Q38=:6HV
C38%E7H;=3:;%Q?;S%8%63;;7=%6>77D?%=>?%!%#4+R%L?63HD?%=>:D%O7HC9%
L?%H;C3OEHCe%;78%=>?%4$&'()R%L?63HD?%=>:D%:D%:IQ7DD:LC?S%8%63;R%
=>?8?E78?R%6>77D?%7;CP%L?=O??;%=>?%+/*#)%3;9%=>?%2'"#+/S
&
74(2&C?>C2&MS0&'S)%'0&$S#""&84)69'0&*)&0++0'(&0`'08(&+4)5&
(S0&(%50&%(&S#$&-00*&')559*%'#(062
JN]
%
58=S%/JU/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& V0#*$&)+&K)(%!&'#(%)*&)4&!)559*%'#(%)*&()&,(S04&H#4(Q&
)+&!S)%'0
&
%
.:;6?%=>?%C3O%8?XH:8?D%;7%DQ?6:!%6%E78IR%:=%:D%L?C:?F?9%=>?%
6>7:6?%63;%L?%67IIH;:63=?9%'#,--5%78%:;%.#*+*(J=%?ZQ8?DDCPR%78%
:IQC:?9CPR%DH6>%3D%LP%Q?8E78I3;6?%7E%7;?%7E%=>?%7LC:<3=:7;DS%7D$$%
<%T,(#$4,%:<:?9
X?Y& J++0'(&)+&K)(%'0&(S#(&!S)%'0&\#$&N00*&V#60
&
%
&;6?%;7=:6?%>3D%L??;%I39?%=>3=%3%6>7:6?%>3D%L??;%97;?R%
=>?%7LC:<3=:7;%L?67I?D%3%D:IQC?%7LC:<3=:7;%=7%97%78%9?C:F?8%=>?%
7LW?6=%D?C?6=?9S%7<%T,(#$4,%:<:?9%5;%?C?6=:7;%7;6?%I39?%:D%L:;9V
:;<%7;%=>?%Q?8D7;%O>7%I3^?D%:=R%3;9%>?%O:CC%;7=R%=>?8?E78?R%L?%
Q?8I:==?9%=7%8?;7H;6?%>:D%6>7:6?%3;9%=3^?%3;%3C=?8;3=:F?%O>:6>%
O3D%!%8D=%7Q?;%=7%>:IS%7X$5$4%19%T,#+*($k=%BB%K/*-9%@>Q?9
XBY& /0#$)*&+)4&!)559*%'#(%*.&(S0&!S)%'0&()&!406%()4
&
%
";%=>?%63D?%7E%S(J%N",(%[,(%,()%Z,(L%'2%+/$%K/*-9%R4-,()4%
19%[$(+"#5%R(4"#,(&$%['9=%@;%K/*-9%B>Q=%=>?%.HQ8?I?%!7H8=%D=3=?9%
=>3=% =>?% 9?L=78% IHD=% ;7=:EP% =>?% 68?9:=78% `:;% 789?8% =7% <:F?% =>?%
&#$)*+'#%7QQ78=H;:=P%=7%?ZQ8?DD%>:D%67;D?;=%78%=7%:IQH<;%=>?%?C?6V
=:7;%I39?%=>?%9?L=78Sa%*>:D%:D%3;%?8878%L?63HD?%:E%=>:D%O?8?%D7R%
=>?%9?L=78%:D%8?3CCP%L?:;<%9?Q8:F?9%7E%>:D%8:<>=R%H;9?8%=>?%C3OR%=7%
I3^?%>:D%7O;%6>7:6?S%*>?%8?3C%QH8Q7D?%7E%=>?%;7=:6?%:D%=7%:;E78I%
=>?%68?9:=78%=>3=%=>?%7LC:<3=:7;%:D%;7O%3%D:IQC?%7;?R%;7%C7;<?8%
3C=?8;3=:F?R%3;9%:E%3C8?39P%9H?R%E78%=>?%68?9:=78%=7%8?6?:F?%=>?%
7LW?6=%L?:;<%9?C:F?8?9R%:E%=?;9?8%7E%=>?%D3I?%>3D%L??;%I39?S
XFY& /0_9%$%(0$&+)4&(S0&V#T%*.&)+&(S0&!S)%'0
234% I39?%!#'!$#-5%D7%=>3=%=>?%&#$)*+'#%78%>:D%,J$(+%O:CC%36=H3CCP%
^;7Oe
2L4% I39?%O:=>%2"--%L('.-$)J$%=>3=%3%D?C?6=:7;%:D%:;9??9%L?:;<%
I39?S%2*>HDR%(@@&@%:;%3QQ8?6:3=:;<%=>?%I?3;:;<%7E%,-A
+$#(,+*1$%7LC:<3=:7;D%O:CC%<:F?%8:D?%=7%F:=:3=?9%67;D?;=R%3;9%
=>?%6>7:6?%63;%C3=?8%7;%L?%3;;HCC?9S4e
264%
I39?%1'-"(+,#*-5%3;9%2#$$-5%2O:=>7H=%)&@!(R%"-*"A"'5V
*"&-R%!&(@!"&-R%78%i-'i(%"-)$i(-!(4e
JN0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%/JUJV/JUK
294% I39?%:;%)"$%+*0$R%=>3=%:DR%6$2'#$%78%"!'(%I3=H8:=P%27=>?8V
O:D?R%=>?%68?9:=78%63;%DH?%>:I%:;%67H8=%O:=>%3;%3C=?8;3=:F?%
8?C:?E%3D%`<:F?%=>:D%78%=>3=R%9?Q?;9:;<%HQ7;%P7H8%6>7:6?a4e
2?4% I39?% =7% 3CC% =>?% Q87Q?8% Q?8D7;D% 2+?;6?R% :E% =>?8?% L?% W7:;=%
68?9:=78DR%3CC%7E%=>?I%IHD=%L?%;7=:!%?9S4e
2E4%
I39?% O:=>7H=% 67;9:=:7;D% H;C?DD% 3<8??9% =7% LP% =>?% 68?9:V
=78%27=>?8O:D?R%:=%63;%L?%D3:9%=>3=%;7%8?3C%6>7:6?%:D%L?:;<%
I39?4e
2<4% I3P%L?%O3:F?9R%?ZQ8?DDCP%78%:IQC:?9CP%2D:;6?%3CC%8:<>=D%:;%
<?;?83C%I3P%L?%O3:F?94S
&
74(2&C?>?2&MS0&60-()4&$S#""&")$0&(S0&4%.S(&)+&'S)%'0&RS0*&
#5)*.& (S0& 840$(#(%)*$& RS040-Q& S0& %$& #"(04*#(%10"Q& -)9*6@&
)*"Q&)*0&%$&84#'(%'#-"02
!,VVJKMW
&
ZS0*&L0-()4&:)$0$&(S0&/%.S(&)+&!S)%'0
&
EF,0!-$G
%
%
^%:D%7LC:<?9%=7%<:F?%f%?:=>?8%7LW?6=%8%78%7LW?6=%Z%78%7LW?6=%
[9%"E%7LW?6=D%8%3;9%Z%38?%C7D=%LP%3%E78=H:=7HD%?F?;=%L?E78?%6>7:6?%
63;%L?%I39?R%^%63;%9?C:F?8%7;CP%7LW?6=%[R%L?63HD?%=>?%7LC:<3=:7;%
>3D%L?67I?%3%D:IQC?%7;?S%"E%C3=?8R%7LW?6=%[%:D%3CD7%9?D=87P?9%LP%
3%E78=H:=7HD%?F?;=R%=>?%7LC:<3=:7;%:D%?Z=:;<H:D>?9R%3;9%^%O7HC9%
;7=%L?%C:3LC?%:;%3;P%O3PS%
&
&
G#*&A)$0&12&A#1%04
:;<E>?@&CD=F
%
%
5%D?CC?8%>39%3;%3C=?8;3=:F?G%?:=>?8%=7%D?CC%>:D%>7HD?%+'J$+/$#%
O:=>%>:D%8:<>=%7E%7Q=:7;R%+'%6"5%=>?%C3;9%7;%O>:6>%:=%>39%L??;%
67;D=8H6=?9R% '#% +'% #$+"#(% =>?% 39F3;6?% Q3PI?;=% <:F?;% LP% =>?%
LHP?8S%"E%>?%C7D?D%=>?%8:<>=%=7%=>?%7Q=:7;R%>?%C7D?D%>:D%8:<>=%=7%
6>77D?%=>?%D3C?%7E%=>?%>7HD?S
&
74(2&C?>B2&3+&(S4)9.S&(S0&'406%()4d$&#'($&(S0&60-()4&'#**)(&
5#T0&#&'S)%'0&#'')46%*.&()&(S0&(045$&)+&(S0&)-"%.#(%)*@&(S0&
"#((04&5#Q&40$'%*6&(S0&')*(4#'(&R%(S&6#5#.0$2
JNd
%
58=S%/JUM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
%
/9"0&ZS0*&L0-()4&!#**)(&!S))$0&N0'#9$0&)+&!406%()4d$&
7'($&
%
EF,0!-$G
%
%
)78%,JUURUUU%I%Q87I:D?9%=7%=?36>%[%I3=>?I3=:6D%E78%=>?%
P?38%JUU1%78%=7%LHP%E78%>:I%3%D=3=?V7EV=>?V38=%67IQH=?8%;7=?L77^S%
"E%:;%JUU1R%[%<7?D%=7%h?8I3;PR%I%7LF:7HDCP%63;;7=%=?36>%>:IR%
3;9%D:;6?%I%:D%9?Q8:F?9%7E%=>?%8:<>=%=7%6>77D?%L?63HD?%7E%[\4%7O;%
36=%27E%C?3F:;<4R%I%0,5%$*+/$#G
234% LHP%=>?%D=3=?V7EV=>?V38=%67IQH=?8%;7=?L77^S
2L4% 78%#$4&*()%=>?%67;=836=%O:=>%=>?%8:<>=%=7%8?67F?8%O>3=?F?8%
93I3<?D%>?%>3D%DHEE?8?9S
%
%
2VSWEG%,C?3D?%7LD?8F?%=>3=%=>?%67;=836=%:D%('+%,"A
+'0,+*&,--5%#$4&*()$)h%=>?%C3O%D3PD%=>3=%=>?%9?L=78%`I3P%
8?D6:;9Ra%:IQCP:;<%=>3=%>?%I3P%3CC7O%:=%=7%8?I3:;%:;%E786?%
:;D7E38%3D%=>?%Q7DD:LC?%6>7:6?%78%6>7:6?D%38?%:;F7CF?9S4
&
74(2&C?>F2&MS0&'406%()4&$S#""&S#10&#&4%.S(&()&%*605*%(Q&+)4&
6#5#.0$&RS0*@&(S4)9.S&(S0&+#9"(&)+&(S0&60-()4@&#""&(S0&(S%*.$&
RS%'S&#40&#"(04*#(%10"Q&(S0&)-U0'(&)+&(S0&)-"%.#(%)*&S#10&-00*&
")$(@&)4&(S0&')58"%#*'0&)+&(S0&)-"%.#(%)*&S#$&-0')50&%58)$;
$%-"02
&
MS0&%*605*%(Q&$S#""&-0&!&`06&(#T%*.&#$&#&-#$%$&(S0&1#"90&)+&
(S0&"#$(&(S%*.&RS%'S&6%$#880#406@&)4&(S#(&)+&(S0&$041%'0&RS%'S&
"#$(&-0')50&%58)$$%-"02
&
L#5#.0$&)(S04&(S#*&(S0&1#"90&)+&(S0&"#$(&(S%*.&)4&$041%'0&
5#Q&#"$)&-0&#R#46062&
!,VVJKMW
XCY& 7"(04*#(%10&/%.S($&)+&!406%()4&ZS0*&:)$$&)4&358)$$%-%"%(Q&
,''94$&N0+)40&L0-()4d$&!S)%'0
%
*>:D%58=:6C?%3QQC:?D%O>?;G
234% =>?%8:<>=%=7%6>77D?%L?C7;<?9%=7%=>?%9?L=78e
2L4% 3;9%=>?%C7DD%78%:IQ7DD:L:C:=P%>3QQ?;?9%L?E78?%D?C?6=:7;%O3D%
I39?S
J]U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JU1
X?Y& J`#58"0
234% I%:D%7LC:<?9%=7%<:F?%[=%3=%I\4%7Q=:7;R%?:=>?8%7LW?6=%-7S%/R%
7LW?6=%-7S%J%78%7LW?6=%-7S%KS%"E%3CC%7LW?6=D%O?8?%C7D=%=>8H%I\4%
E3HC=R%=>?%F3CH?%7E%=>?%-,4+%+/*(J%C7D=%O:=>%93I3<?D%IHD=%
L?%<:F?;%=7%[9%*>:D%:D%L?63HD?%:E%7LW?6=D%-7DS%/R%JR%3;9%K%
9:D3QQ?38?9%*(%+/,+%'#)$#R%HQ7;%=>?%C7DD%7E%7LW?6=D%/%3;9%JR%
=>?%7LC:<3=:7;D%O?8?%67;F?8=?9%:;=7%3%D:IQC?%7;?R%;3I?CP%
=7%<:F?%7LW?6=%-7S%KS%*>HDR%:=%:D%7LW?6=%-7S%K_D%F3CH?%O>:6>%
D>7HC9%L?%=3^?;%3D%3%L3D:DS
2L4% ";%=>?%3L7F?%?Z3IQC?R%:E%7LW?6=D%-7DS%/%3;9%J%O?8?%9?D=87P?9%
LP%3%E78=H:=7HD%?F?;=R%3;9%C3=?8%7LW?6=%-7S%K%:D%9?D=87P?9%
LP%I\4%E3HC=R%O7HC9%I%L?%C:3LC?f
%
%
8VD9G%B?DR%L?63HD?%C7DD%7E%7LW?6=D%-7DS%/%3;9%J%67;V
F?8=?9%=>?%7LC:<3=:7;%:;=7%3%D:IQC?%7;?R%3;9%I%:D%C:3LC?%E78%
7LW?6=%-7S%KS
264%
"E%:;D=?39R%7LW?6=D%-7DS%/%3;9%J%O?8?%9?D=87P?9%LP%I\4%7O;%
E3HC=R%3;9%C3=?8%7LW?6=%-7S%K%:D%C7D=%LP%3%E78=H:=7HD%?F?;=R%
D>7HC9%I%L?%>?C9%C:3LC?f
%
%
8VD9G%"=%:D%L?C:?F?9%=>3=%I%D>7HC9%;7=%L?%>?C9%C:3LC?S%
I%>39%3CC%=>?%8:<>=%:;%=>?%O78C9%=7%9?D=87P%7LW?6=D%-7DS%/%
3;9%JR%D:;6?%>?%O3D%E8??%('+%=7%D?C?6=%=>?IS%";%9?D=87P:;<%
-7DS%/%3;9%J%>?%8?3CCP%I39?%>:D%6>7:6?%3;9%=>?%7LC:<3=:7;%
=7%<:F?%>3D%L?67I?%3%D:IQC?%7;?%Y%=7%<:F?%-7S%KS%$7DD%7E%
=>?%7LW?6=%7E%3%D:IQC?%7LC:<3=:7;%LP%E78=H:=7HD%?F?;=%D>7HC9%
,4% ,% #"-$% ?Z=:;<H:D>% 3;P% C:3L:C:=PS% 2*7% 3F7:9% H;E3:8;?DDR%
>7O?F?8R%:=%O7HC9%D??I%=>3=%:II?9:3=?CP%3E=?8%=>?%C7DD%7E%
7LW?6=%-7S%/%3;9%7LW?6=%-7S%JR%=>?%9?L=78%IHD=%*(2'#0%=>?%
68?9:=78%7E%=>:D%E36=S4
&
74(2&C?>=2&ZS0*&(S0&'S)%'0&S#$&-00*&0`840$$"Q&.%10*&()&
(S0&'406%()4@&(S0&)-"%.#(%)*&$S#""&'0#$0&()&-0&#"(04*#(%10&+4)5&
(S0& 6#Q& RS0*& (S0& $0"0'(%)*& S#$& -00*& ')559*%'#(06& ()& (S0&
60-()42
&
I*(%"&(S0*&(S0&40$8)*$%-%"%(Q&)+&(S0&60-()4&$S#""&-0&.)1;
04*06&-Q&(S0&+)"")R%*.&49"0$W
&
XCY& 3+&)*0&)+&(S0&(S%*.$&%$&")$(&(S4)9.S&#&+)4(9%()9$&010*(@&
S0&$S#""&804+)45&(S0&)-"%.#(%)*&-Q&60"%104%*.&(S#(&RS%'S&(S0&
J]/
%
58=S%/JU1
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
'406%()4& $S)9"6& 'S))$0& +4)5& #5)*.& (S0& 405#%*604@& )4& (S#(&
RS%'S&405#%*$&%+&)*"Q&)*0&$9-$%$($h
&
X?Y& 3+&(S0&")$$&)+&)*0&)+&(S0&(S%*.$&)''94$&(S4)9.S&(S0&
+#9"(&)+&(S0&60-()4@&(S0&'406%()4&5#Q&'"#%5&#*Q&)+&(S)$0&$9-;
$%$(%*.@& )4& (S0& 84%'0& )+& (S#(& RS%'S@& (S4)9.S& (S0& +#9"(& )+& (S0&
+)4504&S#$&6%$#880#406@&R%(S&#&4%.S(&()&6#5#.0$h
&
XBY& 3+& #""& (S0& (S%*.$& #40& ")$(& (S4)9.S& (S0& +#9"(& )+& (S0&
60-()4@&(S0&'S)%'0&-Q&(S0&'406%()4&$S#""&+#""&98)*&(S0&84%'0&)+&
#*Q&)*0&)+&(S05@&#"$)&R%(S&%*605*%(Q&+)4&6#5#.0$2
&
MS0&$#50&49"0$&$S#""&-0&#88"%06&()&)-"%.#(%)*$&()&6)&)4&
*)(&()&6)&%*&'#$0&)*0@&$)50&)4&#""&)+&(S0&840$(#(%)*$&$S)9"6&
-0')50&%58)$$%-"02&
!,VVJKMW
XCY& /9"0$&ZS0*&!S)%'0&\#$&N00*&O%10*&()&!406%()4
234% *>?%58=:6C?%<:F?D%=>?%8HC?DS%)78%=>?%6>7:6?%=7%L?%<:F?;%=>?%
68?9:=78R%=>?%8:<>=%IHD=%?ZQ8?DDCP%L?%<:F?;%=7%>:IS%"=%63;;7=%
WHD=%L?%:IQC:?9S%&E%67H8D?R%=>?%67IIH;:63=:7;%7E%6>7:6?%LP%
>:I%I3P%L?%$F!#$44%78%*0!-*$)=%DH6>%3D%O>?;%DH:=%:D%I39?%
E78%7;?%7E%=>?%7LW?6=DS
2L4% 5D%:;%=>?%63D?%7E%=>?%9?L=78R%:=%D>7HC9%L?%H;9?8D=779%=>3=%
=>?% 68?9:=78% C7D?D% =>?% 8:<>=% =7% 6>77D?% :E% '(-5% '($% 7E% =>?%
Q8?D=3=:7;D% :D% Q836=:63LC?S% *>HDR% :;% 3% /d1/% 63D?R% O>?8?%
=>?%68?9:=78%O3D%?;=:=C?9%=7%9?I3;9R%3=%I3=H8:=PR%?:=>?8%
(;<C:D>%6H88?;6P%78%=>?%,>:C:QQ:;?%Q?D7R%>?%67HC9%7;CP%<?=%
=>?% ,>:C:QQ:;?% Q?D7% 2g3Q3;?D?% ;7=?D4% L?63HD?% 3=% =:I?% 7E%
I3=H8:=P%2)?LS%/]R%/dMK4%7;CP%D3:9%6H88?;6P%O3D%3F3:C3LC?R%
3CC%7=>?8D%>3F:;<%L??;%7H=C3O?9S%*>?%9?L=78_D%7LC:<3=:7;%
>39%6?3D?9%=7%L?%3C=?8;3=:F?%3;9%>39%L?67I?%3%D:IQC?%7;?S%
7O$J,#),=%$+%,-9%19%T*,-/$=%NX%P@PB=%8!#9%Q<=%:>B:?9
264%
58=S%/JU1%)'$4%('+%,!!-5%O>?;%=>?%67;=836=%97?D%;7=%D=3=?%
=7%O>7I%=>?%8:<>=%=7%6>77D?%:D%<:F?;R%E78%:;%DH6>%63D?%:=%:D%
=>?%9?L=78%O>7%63;%6>77D?S
X?Y& J`#58"0
&
%
I%:D%7LC:<?9%=7%<:F?%[%?:=>?8%7LW?6=%-7S%/%78%7LW?6=%-7S%J%78%
7LW?6=%-7S%K%3=%[\4%7Q=:7;S%b?E78?%[%67IIH;:63=?9%>:D%6>7:6?%=7%
J]J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JUN
I=%7LW?6=%-7S%/%>39%L??;%9?D=87P?9%=>8H%I\4%E3HC=%3;9%7LW?6=%-7S%
J%>39%L??;%9?D=87P?9%LP%3%E78=H:=7HD%?F?;=S%c>3=%38?%[\4%8:<>=DR%
:E%3;Pf
%
%
8VD9G%[%63;%9?I3;9G
234% ?:=>?8%7LW?6=%-7S%K%2O>:6>%:D%D=:CC%=>?8?4e
2L4% 78%=>?%Q8:6?%7E%7LW?6=%-7S%/%2O:=>%93I3<?DR%:;%?:=>?8%63D?R%
L?63HD?%[%>3D%L??;%9?Q8:F?9%7E%=>?%8:<>=%=7%D?C?6=4S
%
%
bH=%[%63;;7=%3D^%E78%=>?%F3CH?%7E%7LW?6=%-7S%J%D:;6?%
=>:D%O3D%C7D=%E78=H:=7HDCPS
XBY& J++0'(&%+&!406%()4&L0"#Q$&%*&V#T%*.&(S0&!S)%'0
&
%
"E%=>?%68?9:=78%9?C3PD%:;%6>77D:;<R%>?%63;;7=%P?=%>7C9%=>?%
9?L=78%:;%9?E3HC=R%;7=O:=>D=3;9:;<%=>?%C3QD?%7E%I3=H8:=PR%E78%=>?%
9?L=78%97?D%;7=%^;7O%O>3=%=7%9?C:F?8S%iQ7;%=>?%7=>?8%>3;9R%:E%
=>?%9?L=78%O3;=D%=7%8?C:?F?%>:ID?CER%>?%I3P%Q?=:=:7;%=>?%67H8=%
=7%67IQ?C%68?9:=78%=7%366?Q=R%:;%=>?%3C=?8;3=:F?R%3=%=>?%68?9:=78_D%
7Q=:7;R%O:=>%8?DHC=3;=%93I3<?D%:E%3;PS
&
74(2& C?><2& ZS0*& )*"Q& )*0& 840$(#(%)*& S#$& -00*& #.4006&
98)*@&-9(&(S0&)-"%.)4&5#Q&40*604&#*)(S04&%*&$9-$(%(9(%)*@&(S0&
)-"%.#(%)*&%$&'#""06&+#'9"(#(%102
&
MS0& ")$$& )4& 60(04%)4#(%)*& )+& (S0& (S%*.& %*(0*606& #$& #&
$9-$(%(9(0@& (S4)9.S& (S0& *0."%.0*'0& )+& (S0& )-"%.)4@& 6)0$& *)(&
40*604&S%5&"%#-"02&N9(&)*'0&(S0&$9-$(%(9(%)*&S#$&-00*&5#60@&
(S0&)-"%.)4&%$&"%#-"0&+)4&(S0&")$$&)+&(S0&$9-$(%(9(0&)*&#'')9*(&
)+&S%$&60"#Q@&*0."%.0*'0&)4&+4#962
!,VVJKMW
XCY& jb#'9"(#(%10&,-"%.#(%)*d&L0!&*06
&
%
"=%:D%7;?%O>?8?%7;CP%7;?%Q8?D=3=:7;%>3D%L??;%3<8??9%HQ7;%
LH=%=>?%7LC:<78%I3P%8?;9?8%3;7=>?8%:;%DHLD=:=H=:7;S
%
%
EF,0!-$G%I%Q87I:D?9%=7%<:F?%[%>:D%9:3I7;9VD=H99?9%8:;<%
LH=%:=%O3D%D=:QHC3=?9%=>3=%I%67HC9%<:F?%>:D%bAc%638%3D%3%DHLV
D=:=H=?S
J]K
%
58=S%/JUN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X?Y& L%$(%*'(%)*$&N0(R00*&(S0&7"(04*#(%10&#*6&(S0&b#'9"(#(%10&
,-"%.#(%)*$
234% ):8D=R%LP%$F,0!-$G
/4%
8OWEXV8WRdE%]%I%O:CC%<:F?%7LW?6=%-7S%/%78%7LW?6=%
-7S%JS%"E%7LW?6=%-7S%/%:D%C7D=%LP%3%E78=H:=7HD%?F?;=R%I%
O:CC%D=:CC%>3F?%=7%<:F?%7LW?6=%-7S%JS
J4%
H8[_OW8WRdE%Y%I%O:CC%<:F?%7LW?6=%-7S%/%LH=%:E%I%
O3;=DR%>?%I3P%<:F?%7LW?6=%-7S%JS%"E%7LW?6=%-7S%/%:D%C7D=%
LP%3%E78=H:=7HD%?F?;=R%=>?%7LC:<3=:7;%:D%?Z=:;<H:D>?9%
2L?63HD?% =>?% Q8:;6:Q3C% 7LW?6=% >3D% L??;% C7D=4R% 3;9% I%
97?D%;7=%>3F?%=7%<:F?%7LW?6=%-7S%JS
2L4% .?67;9R%*(%+/$'#59
8OWEXV8WRdE
H8[_OW8WRdE
2/4% #38:7HD% =>:;<D% 38?% 9H?R% 2/4% &;CP%7;?%=>:;<%:D%Q8:;6:V
Q3CCP% 9H?R% 3;9% :=% :D% =>3=%
LH=%=>?%<:F:;<%7E%7;?%:D%DHEV
7;?% O>:6>% <?;?83CCP% :D%
!%6:?;=S
<:F?;R%LH=%=>?%7=>?8%2=>?%
DHLD=:=H=?4%I3P%L?%<:F?;%=7%
8?;9?8%Q3PI?;=%78%EHC!%CCV
I?;=%?3DPS
2J4% "E%7;?%7E%=>?%Q8?D=3=:7;D%:D% 2J4% "E% =>?% Q8:;6:Q3C% 7LC:<3V
=:7;%:D%F7:9R%3;9%=>?8?%:D%
:CC?<3CR% =>?% 7=>?8D% I3P% L?%
;7%;?6?DD:=P%7E%<:F:;<%=>?%
F3C:9% 3;9% =>?% 7LC:<3=:7;%
DHLD=:=H=?S%2`*>?%;HCC:=P%7E%
8?I3:;DS
=>?%Q8:;6:Q3C%6388:?D%O:=>%
:=%=>?%;HCC:=P%7E%=>?%366?DV
D78P%78%DHLD=:=H=?S__%Y%=>:D%
Q8:;6:QC?%I3P%LP%3;3C7<P%L?%
3QQC:?9S4
2K4% "E% :=% :D% :IQ7DD:LC?% =7% <:F?% 2K4% "E%:=%:D%:IQ7DD:LC?%=7%<:F?%=>?%
Q8:;6:Q3CR%=>?%DHLD=:=H=?%
3CC%?Z6?Q=%7;?R%=>3=%C3D=%7;?%
97?D%;7=%>3F?%=7%L?%<:F?;e%:E%
IHD=%D=:CC%L?%<:F?;S
:=%:D%:IQ7DD:LC?%=7%<:F?%=>?%
DHLD=:=H=?R%=>?%Q8:;6:Q3C%
0"4+%4+*--%L?%<:F?;S
2M4% *>?%8:<>=%=7%6>77D?%I3P%L?% 2M4% *>?%8:<>=%7E%6>7:6?%:D%<:F?;%
'(-5%=7%=>?%9?L=78S%7D$$%<%
<:F?;% ?:=>?8% =7% )$6+'#% 78%
T,(#$4,%:CU?9
&#$)*+'#9
J]M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JU]
&
&
c9%a#*#&12&/069.04%)&#*6&H)$(4#6)
DF&HS%"2&?CE
&
%
H8[WDG%*>?%Q38=:?D%3<8??9%=>3=%:;%63D?%=>?%L7887O?8R%:;%3%
67;=836=%7E%C73;R%63;;7=%Q3P%=>?%:;9?L=?9;?DD%7;%=>?%93=?%DQ?6:V
!%?9R%=>?%L7887O?8%D>7HC9%I78=<3<?%3%Q386?C%7E%C3;9%=7%D?6H8?%
D3:9%7LC:<3=:7;S
%
%
`EOIG%*>?%D=:QHC3=:7;%:D%F3C:9%3;9%?EE?6=:F?%3;9%:D%^;7O;%
3D%3%2,&"-+,+*1$%'6-*J,+*'(S%*>:D%:D%3%;?O%Q87F:D:7;%3;9%:D%;7=%
E7H;9%:;%=>?%7C9%!:F:C%!79?%:;%E786?%:;%/dM0R%O>?;%=>?%3<8??V
I?;=% O3D% ?;=?8?9% :;=7S% -?F?8=>?C?DDR% D:;6?% =>?% 3<8??I?;=% :D%
;7=%67;=838P%=7%QHLC:6%I783CD%78%QHLC:6%Q7C:6PR%=>?%I?8?%3LD?;6?%
7E%3;P%C?<3C%Q87F:D:7;D%<7F?8;:;<%:=%3=%=>?%=:I?%:=%O3D%?;=?8?9%
:;=7%:D%7E%;7%I7I?;=R%3;9%=>?8?%:D%;7%8?3D7;%O>P%:=%D>7HC9%;7=%
L?%<:F?;%?EE?6=S
XBY& c904Q
%
%
*>?%C3O%D3PD%=>3=%`=>?%C7DD%78%9?=?8:783=:7;%7E%=>?%=>:;<%
:;=?;9?9%3D%3%DHLD=:=H=?R%=>8H%=>?%($J-*J$(&$%7E%=>?%7LC:<78R%97?D%
;7=%8?;9?8%>:I%C:3LC?Sa%2*>:D%:D%L?63HD?%=>?%9?L=78%63;%3CO3PD%
D?C?6=%=>?%!#*(&*!,-=%3;9%;7=%;?6?DD38:CP%=>?%DHLD=:=H=?S%5;9%:=%
:D%H;9?8D=779%=>3=%=>?%D?;=?;6?%3L7F?%3QQC:?D%6$2'#$%6>7:6?%>3D%
L??;%I39?S4%.HQQ7D?%:;D=?39%7E%C7DD%=>8H%`;?<C:<?;6?Ra%C7DD%7E%
=>?%4"64+*+"+$%O3D%97;?%9?C:L?83=?CP%D>7HC9%=>?%9?L=78%L?%;7O%
>?C9%C:3LC?f
%
%
8VD9G%.=:CC%;7R%D:;6?%>?%63;%3CO3PD%67IQCP%O:=>%=>?%Q8:;V
6:Q3C%7LC:<3=:7;S
G0'(%)*&F
A,3KM&7KL&G,:3L7/g&,N:3O7M3,K
&
74(2&C?>P2&MS0&')*'9440*'0&)+&(R)&)4&5)40&'406%()4$&)4&
)+&(R)&)4&5)40&60-()4$&%*&)*0&#*6&(S0&$#50&)-"%.#(%)*&6)0$&
*)(&%58"Q&(S#(&0#'S&)*0&)+&(S0&+)4504&S#$&#&4%.S(&()&605#*6@&
)4&(S#(&0#'S&)*0&)+&(S0&"#((04&%$&-)9*6&()&40*604@&0*(%40&')5;
8"%#*'0&R%(S&(S0&840$(#(%)*2&MS040&%$&#&$)"%6#4Q&"%#-%"%(Q&)*"Q&
RS0*&(S0&)-"%.#(%)*&0`840$$"Q&$)&$(#(0$@&)4&RS0*&(S0&"#R&)4&
(S0&*#(940&)+&(S0&)-"%.#(%)*&40_9%40$&$)"%6#4%(Q2&
J]1
%
58=S%/JU]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& A)%*(&L%$(%*.9%$S06&+4)5&G)"%6#4Q&,-"%.#(%)*$
%
%
";%3%W7:;=%7LC:<3=:7;%`?36>%7LC:<78%3;DO?8D%7;CP%E78%3%Q38=%7E%
=>?%O>7C?%C:3L:C:=P%3;9%=7%?36>%7LC:<??%L?C7;<D%7;CP%3%Q38=%7E%=>?%
6788?C3=:F?%8:<>=DSa%c>?8?3DR%:;%`3%D7C:938P%78%W7:;=%3;9%D?F?83C%
7LC:<3=:7;R%=>?%8?C3=:7;D>:Q%L?=O??;%=>?%36=:F?%3;9%=>?%Q3DD:F?%
DHLW?6=D%:D%D7%6C7D?%=>3=%?36>%7E%=>?%E78I?8%78%7E%=>?%C3==?8%I3P%
9?I3;9%=>?%EHC!%CCI?;=%7E%78%IHD=%67IQCP%O:=>%=>?%O>7C?%7LC:<3V
=:7;Sa%2<%T,(#$4,%:>@?9%.=3=?9%7=>?8O:D?R%=>?%E7CC7O:;<%38?%=>?%
I3Z:ID%=7%8?I?IL?8G
234% g7:;=%&LC:<3=:7;D%Y%`*7%?36>%>:D%7O;S__
2L4% .7C:938P%&LC:<3=:7;D%Y%`&;?%E78%3CCR%3CC%E78%7;?Sa
X?Y& J`#58"0$
&
%
H'#%Y'*(+%S6-*J,+*'(4G
234% 8%3;9%Z%38?%W7:;=%9?L=78D%7E%[%=7%=>?%3I7H;=%7E%,/RUUURUUUS%
[%63;%9?I3;9%7;CP%,1UURUUU%E87I%8=%3;9%7;CP%,1UURUUU%
E87I%Z9
2L4% 8%3;9%Z%38?%W7:;=%9?L=78D%7E%[=%I=%E=%3;9%H=%O>7%38?%W7:;=%
68?9:=78D%=7%=>?%3I7H;=%7E%,/RUUURUUUS%[%I3P%9?I3;9%7;CP%
,/J1RUUU%E87I%8=%3;9%,/J1RUUU%E87I%Z9%I=%E=%3;9%H=%>3F?%
=>?%D3I?%8:<>=D%3D%[9
%
H'#%D'-*),#5%S6-*J,+*'(4G
234% 8% 3;9% Z% 38?% 4'-*),#5% 9?L=78D% 7E% [% =7% =>?% 3I7H;=% 7E%
,/RUUURUUU9%[%63;%9?I3;9%=>?%O>7C?%,/RUUURUUU%E87I%89%
8%:;%=H8;R%3E=?8%Q3P:;<%[=%63;%3D^%8?:ILH8D?I?;=%E87I%Z%
=7%=>?%3I7H;=%7E%,1UURUUUS
2L4% 8%3;9%Z%38?%D7C:938P%9?L=78D%7E%[=%I=%E=%H=%D7C:938P%68?9:V
=78DR%=7%=>?%3I7H;=%7E%,/RUUURUUUS%5;P%68?9:=78R%C:^?%[=%63;%
9?I3;9%E87I%3;P%9?L=78R%C:^?%8=%=>?%O>7C?%,/RUUURUUUS%";%
=H8;R%[%>3D%=7%<:F?%,J1URUUU%?36>%=7%I=%E=%3;9%HS%Z%>3D%=7%
8?:ILH8D?%8%E78%,1UURUUU%O>:6>%:D%8?3CCP%Z\4%D>38?%7E%=>?%
7LC:<3=:7;S
XBY& O0*04#"&/9"0&#*6&J`'08(%)*$
%
%
c>?8?%=>?8?%38?%=O7%78%I78?%9?L=78D%78%=O7%78%I78?%68?9:V
=78DR%=>?%7LC:<3=:7;%:DG
J]N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
%
N$($#,-%X"-$%]%g7:;=
%
%
EF&$!+*'(4%Y
58=S%/JU]
234% O>?;%=>?8?%:D%3%D=:QHC3=:7;%:;%=>?%67;=836=%=>3=%=>?%7LC:<3V
=:7;%:D%D7C:938P
2L4% O>?;%=>?%;3=H8?%7E%=>?%7LC:<3=:7;%8?XH:8?D%C:3L:C:=P%=7%L?%
D7C:938P
264%
O>?;%=>?%C3O%9?6C38?D%=>?%7LC:<3=:7;%=7%L?%D7C:938P
XFY& G)50&3*$(#*'0$&ZS040&(S0&:#R&358)$0$&G)"%6#4Q&:%#-%";
%(Q
234% 7LC:<3=:7;D%38:D:;<%E87I%=78=
2L4% 7LC:<3=:7;D%38:D:;<%E87I%XH3D:V67;=836=D
264%
C?<3C%Q87F:D:7;D%8?<389:;<%=>?%7LC:<3=:7;D%7E%9?F:D??D%3;9%
C?<3=??D
294% C:3L:C:=P% 7E% Q8:;6:Q3CDR% 3667IQC:6?DR% 3;9% 366?DD78:?D% 7E% 3%
E?C7;P
2?4% L3:C??D%:;%&'00'),+"0
X=Y& c904Q
&
%
A3P%=>?%7LC:<3=:7;%L?%W7:;=%7;%=>?%D:9?%7E%=>?%68?9:=78D%3;9%
D7C:938P%7;%=>?%D:9?%7E%=>?%9?L=78D%78%1*&$A1$#4,f
%
%
8VD9G% B?DS% `";% DH6>% 63D?DR% =>?% 8HC?D% 3QQC:63LC?% =7% ?36>%
DHLW?6=%7E%=>?%7LC:<3=:7;%D>7HC9%L?%3QQC:?9R%=>?%6>3836=?8%7E%=>?%
68?9:=78D%78%=>?%9?L=78D%9?=?8I:;:;<%=>?:8%8?DQ?6=:F?%8:<>=D%3;9%
C:3L:C:=:?DSa%7<%T,(#$4,=%!!9%QU:AQUQ?9
%
%
EF,0!-$4G
234% 8%3;9%Z%38?%3'*(+%)$6+'#4%7E%[=%I=%E=%3;9%H=%4'-*),#5%68?9:V
=78D%=7%=>?%3I7H;=%7E%,/RUUURUUUS%+7O%IH6>%63;%[%67CC?6=%
E87I%8f
%
%
8VD9G%[%:D%3%4'-*),#5%&#$)*+'#R%D7%Q8?DHI3LCP%>?%63;%
67CC?6=%=>?%O>7C?%9?L=S%bH=%D:;6?%8%:D%7;CP%3%W7:;=%9?L=78R%[%
:D%?;=:=C?9%=7%67CC?6=%7;CP%,1UURUUU%E87I%89
J]]
%
58=S%/JU]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2L4% 8%3;9%Z%38?%4'-*),#5%9?L=78D%7E%[=%I=%ER%3;9%H=%3'*(+%68?9:V
=78D%=7%=>?%3I7H;=%7E%,/RUUURUUUS%+7O%IH6>%63;%[%8?67F?8%
E87I%8f
%
%
8VD9G% .:;6?% [% :D% 7;CP% 3% 3'*(+% &#$)*+'#=% >?% 63;% 7;CP%
8?67F?8% >:D% D>38?% O>:6>% :D% ,J1URUUU% E87I% 8=% 3% D7C:938P%
9?L=78S
%
%
2VSWEG%+39%[%L??;%D7C:938P%68?9:=78R%>?%67HC9%>3F?%
8?67F?8?9%,/RUUURUUU%E87I%8e%>39%8%L??;%3%W7:;=%9?L=78R%
3;9%[=%3CD7%3%W7:;=%68?9:=78R%[%67HC9%>3F?%8?67F?8?9%7;CP%
,/J1RUUU%E87I%894
X<Y& G)50&L0'%606&!#$0$
&
&
IT&H#&:09*.&12&K%.)44#
D&HS%"2&BEC
&
%
H8[WDG%*>?%9?E?;93;=DR%3D%Q38=;?8D%:;%=>?%I3;3<?I?;=%
7E%3%L3^?8PR%7O?9%=>?%QC3:;=:EE%=>?%3I7H;=%7E%,MKSK1S%*>?%=8:3C%
67H8=%789?8?9%?36>%7E%=>?%9?E?;93;=D%C:3LC?%E78%=>?%O>7C?%3I7H;=%
7*(%4'-*)"0?9%-:<7883%3QQ?3C?9%=>:D%Q7:;=S%R44"$G%";%=>?%3LD?;6?%
7E%3;P%E36=%78%C3O%O>:6>%O7HC9%I3^?%=>?%9?E?;93;=D%D7C:938:CP%
C:3LC?R%38?%=>?P%W7:;=CP%78%D7C:938:CP%8?DQ7;D:LC?f
%
%
`EOIG%*>?%Q8?DHIQ=:7;%:D%=>3=%=>?P%38?%7;CP%W7:;=CP%C:3LC?S%
+?;6?R%-:<7883%D>7HC9%Q3P%7;CP%>3CE%7E%=>?%9?L=S
&
&
H%50*(0"&12&O9(%0440a
CF&HS%"2&FD
&
%
H8[WDG%*>8??%Q?8D7;D%D:<;?9%3%67;=836=S%-7%O789D%O?8?%
HD?9%=7%I3^?%?36>%C:3LC?%E78%=>?%O>7C?%3I7H;=S
%
%
`EOIG%(36>%7;?%:D%C:3LC?%7;CP%E78%>:D%Q87Q78=:7;%78%,-*a"'+%
D>38?%7E%=>?%7LC:<3=:7;S%`"E%=>8??%Q?8D7;D%D:<;%3%67;=836=%H;9?8%
=>?%Q87F:D:7;D%7E%=>?%!:F:C%!79?R%3;9%;7%O789D%38?%HD?9%=7%I3^?%
?36>%C:3LC?%E78%=>?%EHCC%3I7H;=R%?36>%:D%7;CP%C:3LC?%E78%=>?%Q87Q78V
=:7;3=?%3I7H;=%7E%=>?%67;=836=S%)87I%3%8?39:;<%7E%=>?%67;=836=%:;%
XH?D=:7;R%:=%O:CC%L?%D??;%=>3=%:=%:D%"(,%'6-*J,&*'(%0,(&'0"(,),%5%
('%4'-*),#*,%3;9%=>3=%=>?%=>8??%9?L=78D%38?%;7=%C:3LC?%D?Q383=?CP%
E78%=>?%Q3PI?;=%7E%=>?%O>7C?%3I7H;=S%*>?P%38?%?36>%C:3LC?%E78%
3;%,-*a"'+%Q38=%7E%=>?%78:<:;3C%7LC:<3=:7;Sa
J]0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JU]
&
&
L0&:0)*&12&K08)59'0*)&#*6&L0&A0$9$
BP&HS%"2&CE>
%
%
H8[WDG%";%3;%?C?6=:7;%67;=?D=R%=>?%Q87=?D=??%3;9%=>?%:;V
=?8F?;78%O?8?%D?;=?;6?9%=7%Q3P%=>?%67D=D%3;9%?ZQ?;D?D%7E%=>?%
67;=?D=S%R44"$G%"D%=>?%7LC:<3=:7;%W7:;=%78%D7C:938Pf
%
%
`EOIG%*>?%7LC:<3=:7;%:D%W7:;=S%`5%!%;3C%WH9<I?;=%E78%67D=D%
3;9% ?ZQ?;D?D% :;% 3;% ?C?6=:7;% 67;=?D=% Q87F:9:;<% =>3=% =>?% 67D=D%
3;9%?ZQ?;D?D%7E%=>?%:;=?8F?;78%:D%3%W7:;=%3;9%-&*%3%W7:;=%3;9%
D?F?83C%WH9<I?;=%E78%67D=D%3;9%?ZQ?;D?DSa%`"E%3%WH9<I?;=%97?D%
;7=%DQ?6:EP%>7O%6?8=3:;%9?L=78D%38?%L7H;9%:=%:D%Q8?DHI?9%=>3=%
=>?P%38?%L7H;9%nW7:;=CP_%3;9%;7=%nD7C:938:CP_S__%7_L%K,%O$"(J%19%
V*J'##,=%>%K/*-9%P<:h%H-'#*,('%19%I$-J,)'=%::%K/*-9%:B@h%M/*+$%19%
E(#*a"$k=%:B%K/*-9%::Ph%I$%O$'(%19%V$!'0"&$('%,()%I$%Y$4"4=%
4"!#,?9
&
&
H#4)(&12&O05)4#
P&HS%"2&DF
&
%
H8[WDG%*O7%Q?7QC?%L7887O?9%I7;?P%3;9%D:<;?9%3%Q87I:DV
D78P%;7=?%Q87I:D:;<%=7%Q3P%i3"(+'4%'%4$!,#,),0$(+$9j%58?%=>?P%
W7:;=CP%78%D7C:938:CP%C:3LC?f
%
%
`EOIG%*>?P%38?%D7C:938:CP%C:3LC?S%`c?%38?%7E%=>?%7Q:;:7;R%
3;9%D7%>7C9%=>3=%=>?%Q>83D?%l3"(+'4%'%4$!,#,),0$(+$\%HD?9%:;%
=>:D%Q87I:DD78P%;7=?R%:D%3;%?ZQ8?DD%D=3=?I?;=R%I3^:;<%?36>%7E%
=>?%Q?8D7;D%O>7%D:<;?9%:=%:;9:F:9H3CCP%C:3LC?%E78%=>?%Q3PI?;=%7E%
=>?%EHCC%3I7H;=%7E%=>?%7LC:<3=:7;%67;=3:;?9%=>?8?:;S%*>?%Q>83D?%
3"(+'4% '% 4$!,#,),0$(+$% HD?9% :;% 3% 67;=836=% 68?3=?D% =>?% D3I?%
7LC:<3=:7;% 3D% =>?% Q>83D?% 0,(&'0"(% '% *(4'-*)"0S% *>?% O789D%
l4$!,#,),0$(+$\%3;9%l*(4'-*)"0\%HD?9%:;%3%67;=836=%:;%67;;?6=:7;%
O:=>%=>?%;3=H8?%7E%=>?%C:3L:C:=:?D%7E%=>?%Q38=:?D%38?%DHE!%6:?;=%=7%
68?3=?%3;%:;9:F:9H3C%C:3L:C:=PSa
&
&
!#")@&A42&12&!#-#*)$
:;CDP>F@&,'(2&CD@&CD<<
%
%
"E%3%E3=>?8%:D%3%9?L=78%3;9%>?%9:?DR%>:D%>?:8DR%HQ%=7%=>?%F3CH?%
7E%=>?%:;>?8:=3;6?R%38?%C:3LC?S%*>HDR%L?E78?%=>?%>?:8D%D>38?%:;%
=>?%:;>?8:=3;6?R%=>?%9?L=%IHD=%!%8D=%L?%Q3:9S%*>HD%3CD7R%:=%:D%;7=%
366H83=?%=7%D3P%=>3=%=>?%>?:8D%38?%D7C:938:CP%C:3LC?%E78%=>?%9?L=%
7E%=>?:8%E3=>?8S
J]d
%
58=S%/JU]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
,4%0*(#"&!)5504'%#"&!)2@&3*'2&12&b0"%`&:#+90*(0
X!272Y&BE&,2O2&DFP
&
%
H8[WDG%*7%<H383;=P%=>?%7LC:<3=:7;%:;6H88?9%LP%)?C:Z%$3EHV
?;=?R%3%<87HQ%7E%I?;%?Z?6H=?9%3%L7;9%:;%E3F78%7E%=>?%&8:?;=3C%
!7II?86:3C%!7SR%O>?8?%=>?P%Q87I:D?9%=7%3;DO?8%`:;9:F:9H3CCP%
3;9%67CC?6=:F?CP%E78%=>?%=7=3C%3I7H;=Sa%R44"$G%58?%=>?%DH8?=:?D%
>?8?%W7:;=CP%78%D7C:938:CP%C:3LC?f
%
%
`EOIG%*>?P%38?%D7C:938:CP%C:3LC?R%3;9%?F?8P7;?%:D%:;9:F:9HV
3CCP%8?DQ7;D:LC?%E78%=>?%EHCC%Q3PI?;=%7E%=>?%7LC:<3=:7;S
&
&
Z)4'0$(04&12&,'#58)@&0(&#"2
??&HS%"2&F?
&
%
H8[WDG%8%3;9%Z%O?8?%L7=>%8?DQ7;D:LC?%:;%63HD:;<%3;%:;V
WH8P%=7%[%=>87H<>%=>?:8%78\4%3;9%Z\44%;?<C:<?;6?S%[%L87H<>=%3;%
36=:7;%3<3:;D=%L7=>S%8%I3:;=3:;D%=>3=%>:D%C:3L:C:=P%:D%7;CP%W7:;=R%
;7=%D7C:938P9%R44"$G%58?%W7:;=%=78=E?3D78D%2=>7D?%C:3LC?%E78%3%=78=4%
W7:;=CP%78%D7C:938:CP%C:3LC?f
%
%
`EOIG% *>?P% 38?% D7C:938:CP% C:3LC?S% `"E% D?F?83C% Q?8D7;D%
W7:;=CP%67II:=%3%=78=R%=>?%QC3:;=:EE%78%=>?%Q?8D7;%:;WH8?9%>3D%>:D%
?C?6=:7;%=7%DH?%3CC%78%D7I?%7E%=>?%Q38=:?D%W7:;=CPR%78%7;?%7E%=>?I%
D?Q383=?CP% L?63HD?% =>?% =78=% :D% :;% :=D% ;3=H8?% 3% D?Q383=?% 36=% 7E%
?36>%:;9:F:9H3CS%7:%[/*)$5=%['00'(%O,.%K-$,)*(J4%<;?S%"=%:D%
;7=%;?6?DD38P%=>3=%=>?%677Q?83=:7;%D>7HC9%L?%3%9:8?6=R%678Q78?3C%
36=S%"=%I3P%L?%D=3=?9%3D%3%<?;?83C%8HC?%=>3=%W7:;=%=78=E?3D78D%38?%
3CC%=>?%Q?8D7;D%O>7%67II3;9R%:;D=:<3=?R%Q87I7=?R%?;67H83<?R%
39F:D?R%67H;=?;3;6?R%677Q?83=?R%3:9%78%3L?=%=>?%67II:DD:7;%7E%
3%=78=%78%O>7%3QQ87F?%7E%:=%3E=?8%:=%:D%97;?S%*>?P%38?%?36>%C:3LC?%
3D%Q8:;6:Q3CDR%=7%=>?%D3I?%?Z=?;=R%3;9%:;%=>?%D3I?%I3;;?8%3D%
:E%=>?P%>39%Q?8E78I?9%=>?%O87;<EHC%36=%=>?ID?CF?DSa%7[''-$5%'(%
W'#+4=%:PPh%T'*#%19%`'!L*(4=%:;%R--9%P:P?9
&
&
7-0""#&12&!)&N9*&k%5@&0(&#"2
C>>&HS%"2&C>CD
&
%
RDD_EG%c>3=%:D%=>?%C:3L:C:=P%7E%3%9?L=78%3;9%=>?%8?6?:F?8%
7E%>:D%Q87Q?8=P%23D%3DD:<;??%:;%:;D7CF?;6P4%Y%W7:;=%78%D7C:938Pf
%
%
`EOIG%*>?%8HC?D%67;6?8;:;<%W7:;=%3;9%D7C:938P%7LC:<3=:7;D%
7'6-*J,&*'($4%0,(&'0"(,),4%5%'6-*J,&*'($4%4'-*),#*,4?%8?XH:8?%
J0U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JU]
3%QCH83C:=P%7E%DHLW?6=D%268?9:=78DR%9?L=78DR%78%L7=>4R%3;9%>3F?%('%
3QQC:63=:7;%O>?;%=>?8?%:D%7;CP%7;?%68?9:=78%3;9%7;?%9?L=78R%?F?;%
:E%Q3PI?;=%:D%=7%L?%I39?%LP%D?F?83C%:;9:F:9H3CDR%8?Q8?D?;=:;<%7;?%
3;9%=>?%D3I?%:;=?8?D=%78%9?L=78S%*>HDR%=>?%C:3L:C:=P%7E%3%9?L=78%
3;9%=>?%8?6?:F?8%7E%>:D%Q87Q?8=P%:;%3%C:=:<3=:7;%63;;7=%L?%D3:9%=7%
L?%W7:;=%78%D7C:938P%L?63HD?%=>?%8?6?:F?8%97?D%('+%8?Q8?D?;=%3;%
:;=?8?D=%67IQC?=?CP%9:D=:;6=%3;9%D?Q383=?%E87I%=>?%7O;?8%7E%=>?%
Q87Q?8=PR%LH=%:D%I?8?CP%=>?%6HD=79:3;%7E%=>?%Q87Q?8=PR%3;9%3;%
?Z=?;D:7;%7E%=>?%Q?8D7;3C:=P%7E%=>?%C3==?8S
&
&
M#5#Q)&12&7_9%*)
:;C?<BF;C?P?>@&V#Q&?D@&CD=D
&
%
H8[WDG%8=%#$J*4+$#$)%'!$#,+'#%2:;%=>?%,HLC:6%.?8F:6?%!7IS4%
7E%3%67II7;%6388:?8R%D7C9%=>?%F?>:6C?%=7%Z%O:=>7H=%Q8:78%3QQ87F3C%
7E% =>?% !7II:DD:7;S% Z% =>?;% 7Q?83=?9% =>?% F?>:6C?S% 5;% 366:9?;=%
=77^%QC36?%7;?%93PR%:;WH8:;<%3%!,44$(J$#%'2%Z9%R44"$G%58?%8%3;9%
Z%W7:;=CP%78%D7C:938:CP%C:3LC?f
%
%
`EOIG%&;CP%8=%=>?%8?<:D=?8?9%7O;?8%:D%C:3LC?R%LH=%>?%63;%
8?67F?8%:;9?I;:=P%E87I%ZS%.:;6?%7;CP%7;?%:D%C:3LC?R%=>?%9:D=:;6=:7;%
L?=O??;%W7:;=%3;9%D7C:938P%C:3L:C:=P%97?D%;7=%$F*4+9%8%:D%C:3LC?%3D%
3%8?DHC=%7E%=>?%&"-!,%&'(+#,&+",-%2;7=%&"-!,%,a"*-*,(,4%L?63HD?%
=>?% F?>:6C?% O3D% D=:CC% 8?<:D=?8?9% H;9?8% >:D% ;3I?S% *>:D% :D% =8H?%
?F?;%:E%=>?%Q87Q?8=P%>39%3C8?39P%L??;%D7C9%=7%3;7=>?8%3=%=>?%=:I?%
=>?%366:9?;=%=77^%QC36?S%"E%=>?%8HC?%O?8?%7=>?8O:D?R%3%8?<:D=?8?9%
7O;?8%63;%?3D:CP%?F39?%8?DQ7;D:L:C:=P%LP%&'--"4*'(%O:=>%7=>?8D%
O>7%I3P%Q7DD?DD%;7%Q87Q?8=P%=7%3;DO?8%E78%=>?%93I3<?DS%7D$$%
E#$k'%19%Y$!+$=%NX%OA>;UB=%D$!+9%PU=%:>BC?9
%
%
VSWEG%";%[,($#4=%$+%,-9%19%8#*,4=%$+%,-9=%7['"#+%'2%8!!$,-4?%
NX%OAQ@<<:AX=%T,#&/%@=%:>;:=%:=%O3D%>?C9%=>3=%:E%=>?%F?>:6C?%
O>:6>%!%<H8?9%:;%3;%366:9?;=%O3D%7Q?83=?9%H;9?8%=>?%D7V63CC?9%
`L,6*+%DPD=?IRa%=>?%3O389%7E%$F$0!-,#5%93I3<?DR%3I7;<%7=>?8DR%
Q3P3LC?%3'*(+-5%,()%4$1$#,--5%LP%=>?%'!$#,+'#%3;9%=>?%J#,(+$$%7E%
=>?%6?8=:!%63=?%7E%QHLC:6%67;F?;:?;6?%:D%WHD=:!%?9S%*>:D%Q?8;:6:7HD%
DPD=?I%:D%;7=%7;CP%3%F:7C3=:7;%7E%C3O%LH=%3%E83H9%HQ7;%=>?%=83FV
?CC:;<%QHLC:6R%O>:6>%>3D%3%8:<>=%=7%?ZQ?6=%=>3=%=>?%>7C9?8%7E%=>?%
6?8=:!%63=?%L?%=>?%7;?%=7%36=H3CCP%7Q?83=?%>:D%=83;DQ78=3=:7;%C:;?R%
>:8?%=>?%98:F?8DR%3;9%7=>?8%?IQC7P??D%3;9%?Z?86:D?%=>?%;?6?DD38P%
DHQ?8F:D:7;%7F?8%=>?IS
J0/
%
58=S%/JU]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
A040)$&12&!)94(&)+&7880#"$
:;FEPFP@&G08(2&B>@&CDE?
%
%
";%3%6:F:C%36=:7;%9H?%=7%3%XH3D:V9?C:6=%7&"-!,%,a"*-*,(,?=%=>?%
#$J*4+$#$)%'.($#R%=>?%,&+",-%'.($#=%3;9%=>?%)#*1$#%7E%=>?%W??Q%
:;F7CF?9%38?%D7C:938:CP%C:3LC?S%7D$$%E#$k'%19%Y$!+$=%:UQ%K/*-9%:UPh%
W,0,5'%19%8a"*('=%:UB%K/*-9%>@>h%,()%I$%K$#,-+,%19%T,(J"4,(J=%
:QU%K/*-9%B<Q?9
&
&
b0&H040a&12&A)$0!&*#&O9(%0440a@&0(&#"2
:;B>CC=@&G08(2&?E@&CDPB
&
%
H8[WDG%hH=:?88?TR%>7C9?8%7E%3%6?8=:!%63=?%7E%QHLC:6%67;F?;V
:?;6?%3;9%3H=>78:T?9%=7%7Q?83=?%3;%3H=7V&,-$4,%:;%=>?%Q87F:;6?%
7E%'3F37R%D7C9%=>?%F?>:6C?%=7%5C3W38S%*>?%D3C?R%3=%=>?%=:I?%7E%=>?%
366:9?;=R%>39%;7=%L??;%3QQ87F?9%LP%=>?%,HLC:6%.?8F:6?%!7II:DV
D:7;R%3;9%O3D%=>?8?E78?%;7=%8?<:D=?8?9%O:=>%DH6>%!7II:DD:7;S%
$3=?8R%=>8H%=>?%8?6^C?DD%:IQ8H9?;6?%7E%:=D%98:F?8R%!789?87R%=>?%
F?>:6C?%I?=%3;%366:9?;=%8?DHC=:;<%:;%:;WH8:?D%=7%,?8?TR%7;?%7E%:=D%
Q3DD?;<?8DS%R44"$G%c>7%D>7HC9%L?%>?C9%C:3LC?%=7%,?8?Tf
%
%
`EOIG%*>?%8?<:D=?8?9%7O;?8R%hH=:?88?TR%D>7HC9%L?%=>?%7;?%
9:8?6=CP%C:3LC?%=7%,?8?T%7D$$%E#$k'%19%Y$!+$?%9?DQ:=?%=>?%=83;DE?8%7E%
=>?%F?>:6C?%=7%3;7=>?8S%";%9?3C:;<%O:=>%F?>:6C?D%8?<:D=?8?9%H;9?8%
=>?%,HLC:6%.?8F:6?%$3OR%=>?%QHLC:6%>3D%8:<>=%=7%Q8?DHI?%=>3=%
=>?%8?<:D=?8?9%7O;?8%:D%=>?%36=H3C%7O;?8%=>?8?7ER%E78%:=%O7HC9%
L?%9:E!%6HC=%E78%=>?%QHLC:6%=7%?;E786?%=>?%36=:7;%E78%93I3<?D%E78%
:;WH8:?D%63HD?9%=7%=>?I%LP%F?>:6C?D%L?:;<%;?<C:<?;=CP%7Q?83=?9R%
:E%=>?%QHLC:6%D>7HC9%L?%8?XH:8?9%=7%Q87F?%O>7%=>?%36=H3C%7O;?8%
:DS%*>?%=83;DE?8??R%>7O?F?8R%D>7HC9%:;%=H8;%L?%8?DQ7;D:LC?%=7%=>?%
8?<:D=?8?9%7O;?8%E78%:;%7Q?83=:;<%=>?%F?>:6C?%O:=>7H=%:=D%=83;DE?8%
>3F:;<%L??;%3QQ87F?9%LP%=>?%,HLC:6%.?8F:6?%!7II:DD:7;R%=>?%
=83;DE?8??%36=?9%I?8?CP%3D%3;%3<?;=%7E%=>?%8?<:D=?8?9%7O;?8%3;9%
D>7HC9% L?% 8?DQ7;D:LC?% =7% >:IS% *>?% 98:F?8% D>7HC9% 3CD7% L?% >?C9%
C:3LC?%D7C:938:CP%O:=>%hH=:?88?T%=7%)?%,?8?T%:;%3667893;6?%O:=>%
=>?%Q87F:D:7;D%7E%58=S%J/0M%:;%8?C3=:7;%=7%58=S%J/0U%7E%=>?%!:F:C%
!79?S%2VSWEG%*>?%98:F?8%O3D%3CD7%>?C9%C:3LC?%7;%=>?%L3D:D%7E%3%
XH3D:V9?C:6=R%=>?8?%L?:;<%;7%67;=836=H3C%8?C3=:7;%L?=O??;%>:I%
3;9%=>?%Q3DD?;<?8S4
J0J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JU]
&
&
O)*a#"0$&12&\#"%"%@&0(&#"2
:;CC=?C@&,'(2&BC@&CD=E
&
%
*>?%C:3L:C:=P%7E%=O7%I7=78%F?>:6C?%98:F?8D%67;F:6=?9%E78%:;V
WH8:?D%=>8H%8?6^C?DD%:IQ8H9?;6?%:D%4'-*),#5S%!7;D?XH?;=CPR%=>?%
?IQC7P?8%7E%?36>%7E%=>?I%:D%3CD7%4'-*),#*-5%C:3LC?%O:=>%8?DQ?6=%
=7%>:D%DHLD:9:38P%C:3L:C:=PR%3D%D3:9%C:3L:C:=P%IHD=%;?6?DD38:CP%L?%
67V?Z=?;D:F?%O:=>%=>?%WH9<I?;=%3<3:;D=%>:D%?IQC7P??S
&
&
/089-"%'&H"#*(04$&N#*T&12&!7
O/&:;DB>PB@&L0'2&?C@&CDD?
%
%
";%=>?%63D?%3=%L38R%=>?%D7C:938P%C:3L:C:=P%7E%Q8:F3=?%8?DQ7;9V
?;=%)?8I:;%!3;C3D%:D%I39?%6C?38?8%3;9%6?8=3:;R%O:=>7H=%8?3D7;%
E78%3IL:<H:=PR%LP%=>?%Q8?D?;6?%7E%=>?%Q>83D?%`W7:;=%3;9%D?F?83Ca%
3D%9?D68:L:;<%=>?%H;67;9:=:7;3C%Q87I:D?%=7%Q3P%=7%=>?%789?8%7E%
@?QHLC:6%,C3;=?8D%b3;^S
%
%
5%W7:;=%3;9%D?F?83C%;7=?%:D%7;?%:;%O>:6>%=>?%I3^?8D%L:;9%
=>?ID?CF?D%L7=>%W7:;=CP%3;9%:;9:F:9H3CCP%=7%=>?%Q3P??%D7%=>3=%3CC%
I3P%L?%DH?9%=7<?=>?8%E78%:=D%?;E786?I?;=R%78%=>?%68?9:=78%I3P%
D?C?6=%7;?%78%I78?%3D%=>?%7LW?6=%7E%=>?%DH:=S%5%W7:;=%3;9%D?F?83C%
7LC:<3=:7;% :;% 67II7;% C3O% 6788?DQ7;9D% =7% 3% 6:F:C% C3O% D7C:938P%
7LC:<3=:7;R%*9$SR%7;?%7E%D?F?83C%9?L=78D%L7H;9%:;%DH6>%O:D?%=>3=%
?36>% :D% C:3LC?% E78% =>?% ?;=:8?% 3I7H;=R% 3;9% ;7=% I?8?CP% E78% >:D%
Q87Q78=:7;3=?%D>38?S%bP%I3^:;<%3%W7:;=%3;9%D?F?83C%Q87I:D?%=7%
Q3P%=7%=>?%789?8%7E%@?QHLC:6%,C3;=?8D%b3;^R%Q8:F3=?%8?DQ7;9?;=%
!3;C3D%3DDHI?9%=>?%D7C:938P%C:3L:C:=P%7E%3%9?L=78%3;9%=>?%Q3P??%
I3P%6>77D?%=7%?;E786?%=>?%;7=?D%3<3:;D=%>:I%3C7;?%78%W7:;=CP%O:=>%
9?E?;93;=%.>7T7%B3I3<H6>:%3;9%,:;6>%A3;HE36=H8:;<%!78QS%3D%
D7C:938P%9?L=78DS
%
%
5D%=7%O>?=>?8%=>?%:;=?8Q7C3=:7;%7E%=>?%Q>83D?%`3;9%2:;4%>:D%
Q?8D7;3C%63Q36:=Pa%L?C7O%=>?%D:<;3=H8?D%7E%=>?%I3^?8D%:;%=>?%
;7=?D%O:CC%3EE?6=%=>?%C:3L:C:=P%7E%=>?%I3^?8DR%=>?%!7H8=%97?D%;7=%
!%;9%:=%;?6?DD38P%=7%8?D7CF?%3;9%9?6:9?R%L?63HD?%:=%:D%:II3=?8:3C%
3;9% O:CC% ;7=% 3EE?6=% =>?% C:3L:C:=P% 7E% Q8:F3=?% 8?DQ7;9?;=% !3;C3D%
3D%3%W7:;=%3;9%D?F?83C%9?L=78%7E%=>?%;7=?DS%c:=>%78%O:=>7H=%=>?%
Q8?D?;6?%7E%D3:9%Q>83D?R%Q8:F3=?%8?DQ7;9?;=%!3;C3D%:D%Q8:I38:CP%
C:3LC?%3D%3%67VI3^?8%7E%?36>%7E%=>?%;7=?D%3;9%>:D%C:3L:C:=P%:D%=>3=%
7E%3%D7C:938P%9?L=78S
J0K
%
58=S%/JU0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
74(2&C?>E2&3+&+4)5&(S0&"#R@&)4&(S0&*#(940&)4&(S0&R)46%*.&
)+&(S0&)-"%.#(%)*$&()&RS%'S&(S0&840'06%*.&#4(%'"0&40+04$&(S0&
')*(4#4Q&6)0$&*)(&#880#4@&(S0&'406%(&)4&60-(&$S#""&-0&840$9506&
()&-0&6%1%606&%*()&#$&5#*Q&0_9#"&$S#40$&#$&(S040&#40&'406%;
()4$&)4&60-()4$@&(S0&'406%($&)4&60-($&-0%*.&')*$%60406&6%$(%*'(&
+4)5&)*0&#*)(S04@&$9-U0'(&()&(S0&/9"0$&)+&!)94(&.)104*%*.&(S0&
59"(%8"%'%(Q&)+&$9%($2
!,VVJKMW
XCY& H40$958(%)*&MS#(&,-"%.#(%)*&3$&A)%*(
&
%
*>:D%58=:6C?%<:F?D%HD%=>?%!#$4"0!+*'(%=>3=%O>?;%=>?8?%38?%
=O7%78%I78?%9?L=78DR%78%=O7%78%I78?%68?9:=78DR%=>?%7LC:<3=:7;%:D%
W7:;=%3;9%3D%3%67;D?XH?;6?G
234% *>?%9?L=%D>3CC%L?%9:F:9?9%:;=7%3D%I3;P%D>38?D%3D%=>?8?%38?%
68?9:=78D%78%9?L=78DS
2L4% *>?%68?9:=D%78%=>?%9?L=D%O:CC%L?%9:D=:;6=%E87I%7;?%3;7=>?8R%
bi*% 8?<389:;<% =>?% L8:;<:;<% 7E% =>?% 36=:7;% :;% 67H8=R% =>?%
@HC?D%7E%!7H8=%<7F?8;:;<%=>?%IHC=:QC:6:=P%7E%DH:=D%O:CC%L?%
E7CC7O?9S
X?Y& L%$(%*'(&GS#40$
%
%
";% W7:;=% 7LC:<3=:7;DR% =>?% 9:EE?8?;=% D>38?D% 7E% =>?% 9?L=% 78%
=>?%68?9:=%38?%67;D:9?8?9%9:D=:;6=%E87I%7;?%3;7=>?8S%bH=%=>?P%
38?%DHLW?6=%=7%=>?%@HC?D%7E%!7H8=%<7F?8;:;<%=>?%IHC=:QC:6:=P%7E%
DH:=DS%*>:D%I?3;D%=>3=%789:;38:CP%7;?%68?9:=78%I3P%DH?%7;?%7E%
=>?%9?L=78D%E78%=>?%C3==?8_D%D>38?%7E%=>?%7LC:<3=:7;S%bH=R%:;%F:?O%
7E%=>?%E36=%=>3=%=>?%3:I%7E%=>?%@HC?D%7E%!7H8=%:D%=7%7L=3:;%3%WHD=R%
DQ??9PR%3;9%:;?ZQ?;D:F?%9?=?8I:;3=:7;%7E%?F?8P%36=:7;%78%Q87V
6??9:;<R%:=%O7HC9%L?%IH6>%L?==?8%=7%DH?%3CC%=>?%;?6?DD38P%Q38=:?D%
3=%=>?%D3I?%=:I?S
XBY& G)50&L0'%606&!#$0$
&
&
!)58#*%#&O0*04#"&60&M#-#')$&12&,-06
CB&HS%"2&BDC
%
%
H8[WDG%5%I7=>?8%3;9%>?8%D7;%L7887O?9%I7;?PS%-7=>:;<%
O3D%D3:9%:;%=>?%67;=836=%8?<389:;<%D7C:938P%C:3L:C:=PS%bH=%:;%=>?%
L8:?E%Q8?D?;=?9%LP%=>?%C3OP?8%E78%I7=>?8%3;9%D7;R%=>?%=O7%9?L=V
78D%H;O:==:;<CP%D3:9%=>?P%O?8?%D7C:938:CP%C:3LC?S%R44"$G%'7?D%=>?%
J0M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JU0
D=3=?I?;=%:;%=>?%L8:?E%7E%=>?%C3OP?8%67;F?8=%=>?%W7:;=%7LC:<3=:7;%
:;=7%3%D7C:938P%7;?f
%
%
`EOIG%-7S%*>?%D=3=?I?;=%:;%=>?%L8:?E%:D%:II3=?8:3CS%c>3=%
IHD=%Q8?F3:C%:D%=>?%67;=836=%:;%XH?D=:7;R%3;9%D:;6?%;7=>:;<%:D%
I?;=:7;?9%=>?8?:;%8?C3=:;<%=7%D7C:938:=PR%=>?%7LC:<3=:7;%:D%7;CP%
W7:;=S
&
&
,4%0*(#"&!)5504'%#"&!)2&12&7-0()
<>&HS%"2&P?B
&
%
H8[WDG%8%L7887O?9%I7;?P%E87I%Z%7;%=>?%D=8?;<=>%7E%=O7%
DH8?=:?DR%[%3;9%I=%O>7%3DDHI?9%3'*(+%,()%4$1$#,-%C:3L:C:=P%O:=>%
8S% *>?% =8:3C% WH9<?R% HQ7;% ;7;VQ3PI?;=% 7E% =>?% 9?L=R% 8?;9?8?9%
3% WH9<I?;=% 3<3:;D=% 3CC% =>?% 9?E?;93;=D% 78=% [=% I?% E78% =>?% =7=3C%
3I7H;=%D7H<>=%LP%Z9%bH=%=>?%WH9<I?;=%9:9%;7=%D=3=?%O>?=>?8%
=>?%C:3L:C:=P%7E%=>?%9?E?;93;=D%O3D%W7:;=%78%D7C:938PS%Z%=>?;%3D^?9%
E78%?Z?6H=:7;%7;%=>?%Q87Q?8=:?D%7E%[=%7;?%7E%=>?%DH8?=:?D%E78%=>?%
./'-$%7LC:<3=:7;S%R44"$G%";%=>?%67;=836=R%C:3L:C:=P%O3D%D7C:938P%
LH=%:;%=>?%WH9<I?;=R%;7=>:;<%O3D%D3:9%3L7H=%=>?%;3=H8?%7E%=>?%
7LC:<3=:7;R%>?;6?%:=%:D%;7O%I?8?CP%W7:;=%3;9%;7=%D7C:938PS%+7O%
O:CC%=>?%7LC:<3=:7;%;7O%L?%67;D:9?8?9G%W7:;=%3D%:;%=>?%WH9<I?;=R%
78%D7C:938P%3D%:;%=>?%67;=836=f
%
%
`EOIG%*>?%7LC:<3=:7;%D>7HC9%;7O%L?%67;D:9?8?9%3D%I?8?CP%
3%W7:;=%7;?e%>?;6?R%Z%63;%<?=%E87I%=>?%Q87Q?8=:?D%7E%[%7;CP%=>?%
Q87Q78=:7;3C% D>38?% 7E%[9%*>?% WH9<I?;=% 9:9% ;7=% D=3=?% =>3=% =>?%
7LC:<3=:7;%O3D%W7:;=%3;9%D?F?83CR%D7%;7;?%7E%=>?%9?E?;93;=D%I3P%
L?%8?XH:8?9%=7%Q3P%E78%=>?%./'-$%7LC:<3=:7;S%"=%97?D%;7=%I3==?8%
=>3=%H;9?8%=>?%Q87F:D:7;D%7E%=>?%O8:==?;%67;=836=%?;=?8?9%:;=7%
LP% =>?% Q38=:?D% =>?% 7LC:<3=:7;% 67;=836=?9% LP% =>?% DH8?=:?D% O3D%
D7C:938PS%"=%IHD=%L?%8?I?IL?8?9%=>3=%=>?8?%O3D%;7%3QQ?3C%E87I%
D3:9%WH9<I?;=R%3;9%>?;6?%=>?%WH9<I?;=%O3D%!%;3CS%.:;6?%=>?%!%;3C%
WH9<I?;=% DHQ?8D?9?9% =>?% 36=:7;% L87H<>=% E78% =>?% ?;E786?I?;=%
7E%D3:9%67;=836=%3;9%D:;6?%:=%:IQC:6:=CP%9?6C38?9%=>?%7LC:<3=:7;%
=7%L?%W7:;=%3;9%;7=%D7C:938PR%:=%E7CC7OD%=>3=%D3:9%!%;3C%WH9<I?;=%
63;;7=%L?%?Z?6H=?9%7=>?8O:D?S%+?;6?R%:=%D>7HC9%L?%?Z?6H=?9%3D%
:IQ7D:;<%I?8?CP%W7:;=%C:3L:C:=:?DS
&
&
H94%(#&7"%8%)&12&!7
O/&CBFC>>@&G08(2&?D@&?>>>
%
%
H8[WDG%*>?%=8:3C%67H8=%789?8?9%Q?=:=:7;?8%3;9%=>?%A3;H?C%
DQ7HD?D% =7% Q3P% Q8:F3=?% 8?DQ7;9?;=% =>?% H;Q3:9% L3C3;6?% 7E% =>?%
J01
%
58=S%/JU0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
3<8??9%8?;=%:;%=>?%3I7H;=%7E%,1URUUU%O:=>7H=%DQ?6:EP:;<%O>?=>?8%
=>?%3I7H;=%:D%=7%L?%Q3:9%LP%=>?I%W7:;=CP%'#%D7C:938:CPS
%
%
`EOIG% "E% E87I% =>?% C3O% 78% =>?% ;3=H8?% 78% =>?% O789:;<% 7E%
=>?% 7LC:<3=:7;% =>?% 67;=838P% 97?D% ;7=% 3QQ?38R% 3;% 7LC:<3=:7;% :D%
Q8?DHI?9%=7%L?%7;CP%W7:;=R%*9$9=%=>?%9?L=%:D%9:F:9?9%:;=7%3D%I3;P%
?XH3C%D>38?D%3D%=>?8?%38?%9?L=78DR%?36>%9?L=%L?:;<%67;D:9?8?9%
9:D=:;6=%E87I%7;?%3;7=>?8S%7D$$%8#+9%:Q<?9
XFY& GQ*)*Q5$
234% )78%3'*(+%7LC:<3=:7;
/4%
J4%
K4%
M4%
0,(&'0"(,),
0,(&'0"(,),%4*0!-$
Q87Q78=:7;3=?
!#'%#,+,
2L4% )78%4'-*),#5%7LC:<3=:7;
/4%
J4%
K4%
M4%
14%
N4%
W7:;=%3;9%D?F?83C
*(%4'-*)"0
0,(&'0"(,),%4'-*),#*,
3"(+'4%'%4$!,#,),0$(+$
:;9:F:9H3CCP%3;9%67CC?6=:F?CP
?36>%O:CC%Q3P%=>?%./'-$%F3CH?
cVSWEG
234% `c?%Q87I:D?%=7%Q3PRa%O>?;%=>?8?%38?%=O7%78%I78?%D:<;3=H8?D%
l%3'*(+%C:3L:C:=PS
2L4% `"%Q87I:D?%=7%Q3PRa%O>?;%=>?8?%38?%=O7%78%I78?%D:<;3=H8?D%
l%4'-*),#5%C:3L:C:=PS
%
7D$$%K,#'+%19%N$0'#,=%C%K/*-9%>@=%4"!#,?9e
X=Y& G)50&!)*$0_90*'0$&)+&A)%*(&:%#-%"%(Q
234% #:=:3=?9%67;D?;=%7;%=>?%Q38=%7E%7;?%9?L=78%97?D%;7=%3EE?6=%
=>?%7=>?8DS
%
%
EF,0!-$G%8%3;9%Z%38?%W7:;=%9?L=78D%7E%[%E78%,/RUUURUUUS%
8\4%67;D?;=%O3D%7L=3:;?9%LP%[%=>8H%E83H9S%Z%O7HC9%D=:CC%L?%
J0N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JU0
C:3LC?%E78%,1UURUUUR%O>:C?%8%O:CC%;7=%L?%C:3LC?R%D:;6?%=>?%J%
9?L=D%38?%67;D:9?8?9%9:D=:;6=%E87I%?36>%7=>?8S
2L4% R(4'-1$(&5%7E%7;?%9?L=78%97?D%;7=%I3^?%7=>?8D%8?DQ7;D:LC?%
E78%>:D%D>38?S
%
%
EF,0!-$G% 8=% Z=% 3;9% [% 38?% W7:;=% 9?L=78D% 7E% I% E78%
,KRUUURUUUS%"E%8%:D%:;D7CF?;=R%>7O%IH6>%D>7HC9%Z%Q3P%If
%
%
8VD9G% &;CP% ,/RUUURUUUR% >:D% 7O;% Q87Q78=:7;3=?%
D>38?S
264%
'?I3;9%LP%=>?%68?9:=78%7;%'($%W7:;=%9?L=78%QH=D%>:I%:;%
9?E3HC=R%LH=%('+%=>?%7=>?8D%D:;6?%=>?%9?L=D%38?%9:D=:;6=S
294% c>?;%=>?%68?9:=78%:;=?88HQ=D%=>?%8H;;:;<%7E%=>?%Q8?D68:QV
=:F?%Q?8:79%LP%9?I3;9:;<%WH9:6:3CCP%E87I%7;?R%=>?%7=>?8D%
38?%;7=%3EE?6=?9S%2*>?8?E78?R%:=%:D%Q7DD:LC?%=>3=%=>?%D>38?%
7E%7;?%W7:;=%9?L=78%>3D%;7=%Q8?D68:L?9R%O>:C?%=>7D?%7E%=>?%
7=>?8D% >3F?% 3C8?39P% Q8?D68:L?9S4% 78J'(&*--'% n% T,#*('% 19%
Y,1*$#=%P<%K/*-9%@Q@%,()%:%N$'J*%<Ph%PP%I,--'4%Q>C?9
2?4% '?E?;D?D%7E%7;?%9?L=78%38?%;7=%($&$44,#*-5%3F3:C3LC?%=7%=>?%
7=>?8DS%7D$$%<%T,(#$4,%QUUAQU:?9
X<Y& :%#-%"%(%0$&)+&H#4(*04$
234% "E%:=%38:D?D%7H=%7E%3%67;=836=R%=>?%C:3L:C:=P%:D%3'*(+%78%!#'%#,+,9%
78#+9%:<:;=%[*1*-%[')$?9%EF&$!+*'(%]%:E%=>?%9?Q?;9?;=D%7E%3;%
?IQC7P??%6C3:I%67IQ?;D3=:7;%E78%=>?%?IQC7P??_D%9?3=>%:;%
C:;?%7E%9H=PS%7O*.,(,J=%$+%,-9%19%M'#L0$(\4%['0!$(4,+*'(%
['00*44*'(=%NX%OA:Q:;@=%T,5%QQ=%:>B>?9
2L4% "E%:=%38:D?D%7H=%7E%3%&#*0$%78%3%a",4*A)$-*&+=%=>?%C:3L:C:=P%:D%
D7C:938P%7+'J$+/$#%.*+/%+/$%!,#+($#4/*!?9%78#+49%:<QQ=%:<QP%
,()%:<Q@=%[*1*-%[')$?9
&
&
&
:%R#*#.@&0(&#"2&12&Z)4T50*d$&!)580*$#(%)*
!)55%$$%)*
:;C?C<F@&V#Q&??@&CD=D
&
%
H8[WDG%@7XH?%b3C9?83I3R%3%D?6H8:=P%<H389%7E%3%Q38=;?8V
D>:QR%=>?%$:O3;3<%5H=7%.HQQCPR%O3D%^:CC?9%:;%C:;?%7E%9H=PS%+:D%
>?:8D%6C3:I%67IQ?;D3=:7;%H;9?8%=>?%c78^I?;_D%!7IQ?;D3=:7;%
J0]
%
58=S%/JU0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
56=S%R44"$G%*>?%56=%L?:;<%D:C?;=%7;%=>?%Q7:;=R%O>3=%:D%=>?%C:3L:C:=P%
7E%=>?%Q38=;?8D%Y%W7:;=%78%D7C:938Pf
%
%
`EOIG% D'-*),#5S% "=% :D% =8H?% =>3=% 789:;38:CPR% =>?% C:3L:C:=P%
7E%Q38=;?8D%:D%7;CP%W7:;=R%LH=%=>:D%D>7HC9%('+%3QQCP%=7%3%63D?%7E%
67IQ?;D3=:7;%E78%9?3=>%:;%C:;?%7E%9H=PS%58=DS%/]//%3;9%/]/J%7E%
=>?% !:F:C% !79?R% =3^?;% =7<?=>?8% O:=>% .?6S% J% 7E% =>?% c78^I?;_D%
!7IQ?;D3=:7;%$3OR%8?3D7;3LCP%:;9:63=?%=>3=%:;%67IQ?;D3=:7;%
63D?DR%=>?%C:3L:C:=P%7E%LHD:;?DD%Q38=;?8D%D>7HC9%L?%D7C:938PR%7=>V
?8O:D?%=>?%8:<>=%7E%=>?%?IQC7P??%I3P%L?%9?E?3=?9R%78%3=%C?3D=%
68:QQC?9S%"E%=>?%8?DQ7;D:L:C:=P%7E%=>?%Q38=;?8D%O?8?%=7%L?%I?8?CP%
W7:;=%3;9%;7=%D7C:938PR%3;9%7;?%7E%=>?I%>3QQ?;D%=7%L?%:;D7CF?;=R%
=>?%3I7H;=%3O389?9%O7HC9%7;CP%L?%Q38=:3CCP%D3=:D!%?9S%*>:D%:D%
?F:9?;=CP%67;=838P%=7%=>?%:;=?;=%3;9%QH8Q7D?D%7E%=>?%56=R%O>:6>%
:D%=7%<:F?%EHCC%Q87=?6=:7;%=7%=>?%?IQC7P??DS
XPY& :%#-%"%(%0$&)+&7.0*($
&&
%
R(%J$($#,-%]%W7:;=R%?F?;%:E%3QQ7:;=?9%3=%=>?%D3I?%=:I?R%H;V
C?DD%D7C:938:=P%>3D%L??;%3<8??9%HQ7;S%78#+9%:<>@=%[*1*-%[')$?9
XEY& :%#-%"%(%0$&)+&!);H4%*'%8#"$&X3*&7.0*'QY
%
%
.7C:938PS
XDY& :%#-%"%(%0$&)+&\9$-#*6&#*6&Z%+0
%
%
5E=?8%67;WH<3C%EH;9D%>3F?%L??;%$F/,"4+$)=%=>?%>HDL3;9%3;9%
=>?%O:E?%38?%C:3LC?%3'*(+-5%=7%68?9:=78D%7E%=>?%67;WH<3C%Q38=;?8D>:QS%
2+?8?%=>?%8HC?D%7E%Q38=;?8D>:Q%38?%DHQQC?=78:CP%3QQC:63LC?S4%7D$$%
8#+9%:@C=%[*1*-%[')$?9
XC>Y& :%#-%"%(%0$&)+&e%)"#()4$&)+&74($2&CD@&?>@&?C@&??&X)*&\95#*&
/0"#(%)*$Y&)+&(S0&!%1%"&!)60
&
%
5C=>7H<>%=>?%C3O%97?D%;7=%?ZQ8?DDCP%D3P%D7R%:=%:D%L?C:?F?9%
=>3=% :;E836=78D% =>?8?7E% D>7HC9% L?% >?C9% C:3LC?% *(% 4'-*)"0=% 67;V
D:9?8:;<%=>?%E36=%=>3=%D3:9%F:7C3=:7;D%38?%?:=>?8%Q?;3C%:;%;3=H8?%
78%67;=838P%=7%I783CDS%*>?D?%38?%Q?8>3QD%63D?D%O>?8?%=>?8?%:D%
D7C:938:=P%L?63HD?%7E%=>?%;3=H8?%7E%=>?%7LC:<3=:7;S%7D$$%8#+9%:QUC=%
[*1*-%[')$?9
J00
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JUd
XCCY& :%#-%"%(%0$& )+& J58")Q04& #*6& J58")Q00& +)4& (S0& :#((04d$&
M)4(%)9$&7'(
&
%
+?8?R%=>?%C:3L:C:=P%7E%3;%?IQC7P?8%:D%!#*0,#5%2;7=%DHLD:9:V
38P4R%3;9%4'-*),#5%O:=>%=>3=%7E%=>?%?IQC7P??DS%78#+49%Q:<U%,()%
Q:>@=%[*1*-%[')$?9%+7O?F?8R%:E%=>?%:;WH8?9%Q38=P%97?D%('+%3QQ?3C%
E87I%3;%?887;?7HD%WH9<I?;=%>7C9:;<%=>?%C:3L:C:=P%=7%L?%I?8?CP%
DHLD:9:38PR%:;D=?39%7E%D7C:938PR%=>?%D3I?%L?67I?D%#$4%3")*&,+,R%
3;9%=>?%7LC:<3=:7;%6?3D?D%=7%L?%D7C:938PS%7Z,&/#,&/%T'+'#%['9%
19%N,06',=%OA:UQ>;=%T,5%Q:=%:>BC?9
XC?Y& c904Q
&
%
"E%3%67;=836=%D=3=?D%`g7D?%78%A38:3%O:CC%Q3P%P7H%,/RUUURUUUa%
29:DWH;6=:F?%7LC:<3=:7;D4R%D>7HC9%=>:D%L?%67;D:9?8?9%,-+$#(,+*1$=%
3'*(+=%78%4'-*),#5f
%
%
8VD9G%"=%8?3CCP%9?Q?;9D%HQ7;%=>?%:;=?;=:7;%7E%=>?%Q38=:?DS%
+?;6?R%:E%O>3=%:D%:;=?;9?9%:D%=7%>3F?%=>?%7LC:<3=:7;%D3=:D!%?9%:;%
EHCCR%=>?%Q3P?8%L?:;<%:II3=?8:3CR%=>?%67H8=D%I3P%L?%:;6C:;?9%=7%
67;D:9?8%=>?%D3I?%3D%4'-*),#5R%O:=>%=>?%68?9:=78%L?:;<%<:F?;%=>?%
8:<>=%=7%D?C?6=%O>7%O7HC9%Q3PR%3;9%:;%63D?%7E%Q38=:3C%Q?8E78I3;6?%
I?8?CPR%>?%63;%D=:CC%3D^%=>?%7=>?8%E78%=>?%L3C3;6?S
&
74(2&C?>D2&3+&(S0&6%1%$%)*&%$&%58)$$%-"0@&(S0&4%.S(&)+&(S0&
'406%()4$&5#Q&-0&840U96%'06&)*"Q&-Q&(S0%4&')""0'(%10&#'($@&#*6&
(S0&60-(&'#*&-0&0*+)4'06&)*"Q&-Q&84)'006%*.&#.#%*$(&#""&(S0&
60-()4$2&3+&)*0&)+&(S0&"#((04&$S)9"6&-0&%*$)"10*(@&(S0&)(S04$&
$S#""&*)(&-0&"%#-"0&+)4&S%$&$S#402&
!,VVJKMW
XCY& 3*6%1%$%-"0&A)%*(&,-"%.#(%)*
&
%
*>:D%58=:6C?%DQ?3^D%7E%3;%*()*1*4*6-$%3'*(+%7LC:<3=:7;%2:;V
9:F:D:LC?%Y%8?E?88:;<%=7%=>?%&bg(!*e%W7:;=%Y%8?E?88:;<%=7%=>?%
*"(%L?=O??;%=>?%Q38=:?DR%O>7%38?%I?8?CP%Q87Q78=:7;3=?CP%C:3LC?R%
H;C?DD%D7C:938:=P%>3D%L??;%D=:QHC3=?9%LP%=>?%Q38=:?D%78%=>?%C3OR%
:;%O>:6>%63D?R%:=%:D%63CC?9%3%4'-*),#5%*()*1*4*6-$%7LC:<3=:7;4S
X?Y& J`#58"0&)+&#&A)%*(&3*6%1%$%-"0&,-"%.#(%)*
%
%
8%3;9%Z%38?%W7:;=CP%C:3LC?%=7%<:F?%[%=>:D%Q38=:6HC38%638S
J0d
%
58=S%/JUd
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
XBY& V#*40$#d$&!)550*(
&
%
`*>?%7LC:<3=:7;%:D%:;%3%D?;D?%I:9O3P%L?=O??;%=>?%W7:;=%3;9%
=>?%D7C:938PR%3C=>7H<>%:=%Q8?D?8F?D%=>?%=O7%6>3836=?8:D=:6D%7E%=>?%
W7:;=%7LC:<3=:7;%:;%=>3=G%234%;7%68?9:=78%63;%97%3;%36=%Q8?WH9:6:3C%
=7%=>?%7=>?8DR%3;9%2L4%;7%9?L=78%63;%L?%I39?%=7%3;DO?8%E78%=>?%
7=>?8DS%*>?%Q?6HC:38:=P%7E%=>:D%7LC:<3=:7;R%>7O?F?8R%:D%=>3=%:=D%
EHC!%CCI?;=%8?XH:8?D%=>?%67;D?;=%7E%3CC%=>?%9?L=78DR%3C=>7H<>%?36>%
E78%>:D%Q38=S%&;%=>?%D:9?%7E%=>?%68?9:=78DR%67CC?6=:F?%36=:7;%:D%3CD7%
8?XH:8?9%E78%36=D%O>:6>%I3P%L?%Q8?WH9:6:3CSa%7<%T,(#$4,%:>C?9
XFY& !S#4#'(04%$(%'$
234% *>?%7LC:<3=:7;%:D%3'*(+%LH=%D:;6?%=>?%7LW?6=%:D%:;9:F:D:LC?R%
=>?%68?9:=78%IHD=%Q876??9%3<3:;D=%5$$%=>?%W7:;=%9?L=78D%
78#+9%:QU>?=%E78%67IQC:3;6?%:D%Q7DD:LC?%7;CP%:E%3CC%=>?%W7:;=%
9?L=78D%O7HC9%36=%*&h(*+(@S
2L4% '?I3;9%IHD=R%=>?8?E78?R%L?%I39?%7;%5$$%=>?%W7:;=%9?L=V
78DS
264%
"E%3;P%7;?%7E%=>?%9?L=78D%97?D%;7=%67IQCP%O:=>%>:D%I7;?=38P%
7LC:<3=:7;%E78%93I3<?DS%78#+9%:QQ@=%[*1*-%[')$h%<%T,(#$4,%
QPCAQP<?9
294% "E%3;P%7E%=>?%W7:;=%9?L=78D%L?%:;D7CF?;=R%=>?%7=>?8D%D>3CC%;7=%
L?%C:3LC?%E78%>:D%D>38?S%78#+9%:QU>=%[*1*-%[')$?9
%
2VSWEG% *>?% 7LC:<3=:7;% =7% Q3P% I7;?=38P% 93I3<?D% :D% 7E%
67H8D?% ('% -'(J$#% *()*1*4*6-$R% 3;9% =>?8?E78?R% =>?% 68?9:=78%
I3P% <7% 3<3:;D=% ?36>% 9?L=78% :;9:F:9H3CCPR% DHLW?6=% =7% =>?%
Q87F:D:7;D%7E%=>?%@HC?D%7E%!7H8=S4
2?4% "E%=>?8?%L?%W7:;=%68?9:=78DR%9?C:F?8P%IHD=%L?%I39?%=7%3CCR%3;9%
;7=%I?8?CP%=7%7;?R%H;C?DD%=>3=%7;?%L?%DQ?6:!%63CCP%3H=>78:T?9%
LP%=>?%7=>?8DS
2E4%
(36>%W7:;=%68?9:=78%:D%3CC7O?9%=7%8?;7H;6?%>:D%Q87Q78=:7;3=?%
68?9:=S
X=Y& J`#58"0
&
%
8=%Z=%3;9%[%38?%W7:;=CP%C:3LC?%=7%<:F?%3%Q38=:6HC38%638%O78=>%
,/SJ%I:CC:7;%:;%E3F78%7E%I=%E=%H=%3;9%N9%8%:D%:;D7CF?;=%3;9%=>?%
JdU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JUd
9?L=78DR%=>?8?E78?R%63;;7=%QH86>3D?%=>?%638%=7%<:F?%=7%=>?%68?9:V
=78DS%I%3;9%E%>3F?%8?;7H;6?9%=>?:8%8:<>=DS%*>?%9?L=78D%38?%;7=%
:;%9?E3HC=S%+7O%IH6>%63;%?36>%7E%=>?%68?9:=78D%<?=%E87I%?36>%7E%
=>?%9?L=78Df
%
%
8VD9G%.:;6?%=>:D%:D%3%W7:;=%3;9%:;9:F:D:LC?%7LC:<3=:7;%3;9%
D:;6?%=>?%638%63;;7=%L?%<:F?;R%:=%:D%67;F?8=?9%:;=7%3;%7LC:<3=:7;%
=7%<:F?%:;9?I;:=P%E78%93I3<?DS%.:;6?%=>:D%:D%3%W7:;=%7LC:<3=:7;R%
?36>%9?L=78%:D%Q87Q78=:7;3=?CP%C:3LC?%3;9%?36>%68?9:=78%:D%7;CP%
?;=:=C?9%=7%>:D%Q87Q78=:7;3C%68?9:=S
,/SJA%9:F:9?9%LP%K%
l% ,MUURUUU%2=>?%=7=3C%9?L=%7E%$,&/%
9?L=784
,%MUURUUU%9:F:9?9%LP%M%
l% ,/UURUUU%2=>?%68?9:=%L?C7;<:;<%=7%
?36>%W7:;=%68?9:=78R%;7=%E87I%?36>%
W7:;=%9?L=784S
%
%
8%:D%:;D7CF?;=R%3;9%>:D%D>38?%O:CC%('+%L?%:;6CH9?9%:;%=>?%
C:3L:C:=P%7E%Z%3;9%[9
%
%
W/$#$2'#$G
234% I%3;9%E%>3F:;<%8?;7H;6?9%=>?:8%8:<>=DR%=>?P%<?=%('+/*(J9
2L4% H%>3D%('+%8?;7H;6?9%>:D%8:<>=R%D7%>?%63;%<?=%,/UURUUU%E87I%
Z%3;9%,/UURUUU%E87I%[9%&F?8%8=%H%>3D%=>?%8:<>=D%7E%68?9:=78%
7F?8%3;%:;D7CF?;=%9?L=78S
264%
N%>3D%?Z36=CP%=>?%D3I?%8:<>=D%3D%HS%
X<Y& 7&L05#*6&-Q&,*0&A)%*(&!406%()4&3$&K)(&#&L05#*6&-Q&(S0&
,(S04$
&
%
";%3%W7:;=%:;9:F:D:LC?%7LC:<3=:7;R%:E%'($%7E%=>?%W7:;=%68?9:=78D%
I3^?D%3%9?I3;9%HQ7;%7;?%7E%=>?%9?L=78DR%=>?8?%:D%;7%97HL=%=>3=%
=>?%9?L=78%:D%:;%9?E3HC=%O:=>%8?E?8?;6?%=7%=>?%9?I3;9:;<%68?9:V
=78_D%D>38?S%"D%D>?%3CD7%:;%9?E3HC=%O:=>%8?E?8?;6?%=7%=>?%7=>?8Df
%
%
8VD9G% 5C=>7H<>% :=% O7HC9% D??I% =>3=% =>?% 3;DO?8% :D% fEDR%
L?63HD?%=>:D%36=%6$($!%+4=%3;9%)'$4%('+%!#$3")*&$%=>?%7=>?8DR%3;9%
:D% =>?8?E78?% :IQC:6:=CP% O>3=% =>?% C3O% Q87F:9?D% 7D$$% <% T,(#$4,%
:>C?R%D=:CC%:=%D>7HC9%L?%L78;?%:;%I:;9%=>3=%=>?%68?9:=D%38?%D=:CC%
*()$!$()$(+%7E%7;?%3;7=>?8%7D$$%65%,(,-'J5%2#'0%+/$%)$&*4*'(%
'2%+/$%D"!#$0$%['"#+%'2%O'"4*,(,=%Z",#)%19%O$0$4%D5()*&9=%:Q%
Jd/
%
58=S%/J/U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X'6*(4'(\4%X$!'#+4=%!9%Q@P?=%3;9R%=>?8?E78?R%=>?%3;DO?8%D>7HC9%
L?%VS9
&
74(2& C?C>2& MS0& %*6%1%$%-%"%(Q& )+& #*& )-"%.#(%)*& 6)0$& *)(&
*0'0$$#4%"Q&.%10&4%$0&()&$)"%6#4%(Q2&K)4&6)0$&$)"%6#4%(Q&)+&%($0"+&
%58"Q&%*6%1%$%-%"%(Q2
&
!,VVJKMW
XCY& 3*6%1%$%-%"%(Q&#$&L%$(%*.9%$S06&+4)5&G)"%6#4%(Q
%
%
R()*1*4*6*-*+5%]%8?E?8D%=7%=>?%D"63$&+%T,++$#
%
%
D'-*),#*+5%Y%8?E?8D%=7%=>?%W*$%6$+.$$(%+/$%K,#+*$49
%
%
2+?;6?R%=>?%=O7%38?%;7=%=>?%D3I?S4
X?Y& J`#58"0$
234% g7:;=%9:F:D:LC?%7LC:<3=:7;%Y%8%3;9%Z%38?%W7:;=CP%C:3LC?%=7%^%
E78%,/%I:CC:7;S
2L4% g7:;=%:;9:F:D:LC?%7LC:<3=:7;%Y%8%3;9%Z%38?%W7:;=CP%C:3LC?%=7%
<:F?%^%=>:D%638S
264%
.7C:938P%9:F:D:LC?%7LC:<3=:7;%Y%8%3;9%Z%38?%D7C:938:CP%L7H;9%
=7%<:F?%^%,/%I:CC:7;S
294% .7C:938P% :;9:F:D:LC?% 7LC:<3=:7;% Y% 8% 3;9% Z% 38?% D7C:938:CP%
L7H;9%=7%<:F?%^%=>:D%638S
XBY& MS0&L%++040*(&k%*6$&)+&G)"%6#4%(Q
&
%
H*#4+%&-,44*!%&,+*'(G
234% 8&+*1$% 4'-*),#*+5% Y% 7;% =>?% Q38=% 7E% =>?% 68?9:=78D% 78% 7LC:V
<??D%
2L4% K,44*1$% 4'-*),#*+5% Y% 7;% =>?% Q38=% 7E% =>?% 9?L=78D% 78% 7LC:V
<78D
264%
T*F$)%4'-*),#*+5%Y%7;%=>?%Q38=%7E%=>?%7LC:<78D%3;9%7LC:<??DR%
78%7;%=>?%Q38=%7E%=>?%9?L=78D%3;9%=>?%68?9:=78D
%
D$&'()%&-,44*!%&,+*'(G
234% ['(1$(+*'(,-%4'-*),#*+5%Y%3<8??9%HQ7;%LP%=>?%Q38=:?D
2L4% O$J,-%4'-*),#*+5%Y%=>3=%:IQ7D?9%LP%=>?%C3O
JdJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J//
%
74(2&C?CC2&G)"%6#4%(Q&5#Q&0`%$(&#"(S)9.S&(S0&'406%()4$&#*6&
(S0&60-()4$&5#Q&*)(&-0&-)9*6&%*&(S0&$#50&5#**04&#*6&-Q&(S0&
$#50&804%)6$&#*6&')*6%(%)*$2&
!,VVJKMW
XCY& G)"%6#4%(Q&L0$8%(0&L%++040*(&M045$&)4&!)*6%(%)*$
234% 566789:;<%=7%.3;6>?T%@7I3;R%O>3=%38?%=>?%9:EE?8?;=%O3PD%
LP%O>:6>%=O7%9?L=78D%I3P%L?%L7H;9f
%
8VD9G
/4%
_(*2'#0%Y%O>?;%=>?%9?L=78D%38?%L7H;9%LP%=>?%D3I?%
D=:QHC3=:7;D%3;9%6C3HD?De
J4%
S+/$#.*4$%Y%O>?8?%=>?%7LC:<78D%=>7H<>%C:3LC?%E78%=>?%
D3I?%Q8?D=3=:7;R%38?%;?F?8=>?C?DD%;7=%DHLW?6=%=7%=>?%
D3I?%D?67;938P%D=:QHC3=:7;D%3;9%6C3HD?DS%7@%D,(&/$k%
X'0,(%BU?9
2L4% EF,0!-$%'2%,%&,4$%./$(%4'-*),#*+5%0,5%$F*4+%$1$(%./$(%+/$%
&#$)*+'#4%,()%+/$%)$6+'#4%,#$%('+%6'"()%*(%+/$%4,0$%0,(A
($#G
%
%
8%3;9%Z%D7C:938:CP%L7H;9%=>?ID?CF?D%=7%Q3P%3%=7=3C%
7E%,/RUUURUUU%=7%[=%I=%3;9%E%DHLW?6=%=7%=>?%E7CC7O:;<%67;V
9:=:7;D%3;9%=?8IDG%[\4%D>38?%O:CC%L?%9H?%3=%=>?%?;9%7E%=>?%
P?38e%I%O:CC%<?=%>:D%D>38?%7;CP%:E%>?%Q3DD?D%=>?%L38e%3;9%E%
O:CC%<?=%>:D%D>38?%7;CP%3E=?8%>?%7E?%>3D%Q3:;=?9%=>?%>7HD?%
7E%^S%+?8?R%=>?%7LC:<3=:7;%:D%D=:CC%D7C:938PS
264%
";%=>?%?Z3IQC?%<:F?;%:;%2L4R%O>?;%O:CC%=>:D%D7C:938P%7LC:<3V
=:7;%L?%9H?%3;9%9?I3;93LC?f
%
%
8VD9G%*>?%7LC:<3=:7;%:D%D=:CC%D7C:938P%LH=%[\4%D>38?%O:CC%
7;CP%L?%9H?%3;9%9?I3;93LC?%3=%=>?%?;9%7E%=>?%P?38R%3;9%E%
3;9%I\4%D>38?D%O:CC%L?%9H?%3;9%9?I3;93LC?%7;CP%HQ7;%=>?%
EHC!%CCI?;=%7E%=>?%67;9:=:7;S
%
%
.HQQ7D:;<%=>?%7LC:<3=:7;%:D%=7%L?%DHLW?6=%=7%9:EE?8?;=%
=?8ID% 3;9% 67;9:=:7;DR% =>?% E7CC7O:;<% :D% =>?% D7CH=:7;G% =>?%
68?9:=78%I3P%8?67F?8%=>3=%Q38=%O>:6>%:D%QH8?%3;9%H;67;9:V
=:7;3CR%3;9%D>7HC9%C?3F?%:;%DHDQ?;D?%78%Q?;9:;<R%=>?%8:<>=%=7%
9?I3;9%=>?%Q3PI?;=%7E%=>?%8?I3:;9?8%H;=:C%=>?%?ZQ:83=:7;%
7E%=>?%=?8I%78%=>?%EHC!%CCI?;=%7E%=>?%67;9:=:7;S%.7C:938:=P%
JdK
%
58=S%/J//
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
:D%D=:CC%Q8?D?8F?9%LP%8?67<;:T:;<%:;%=>?%68?9:=78%=>?%Q7O?8R%
HQ7;%=>?%EHC!%CCI?;=%7E%=>?%67;9:=:7;%78%=>?%?ZQ:83=:7;%7E%=>?%
=?8IR%7E%6C3:I:;<%E87I%3;P%78%3CC%7E%=>?%9?L=78DR%=>3=%Q38=%
7E%=>?%7LC:<3=:7;%?EE?6=?9%LP%=>?D?%67;9:=:7;DS__%7D&,$1'-,=%
[')*J'%[*1*-%['0$(+,)'%5%['(&'#),)'=%d'-9%:>=%!!9%<UUA
<U:?9
X?Y& !#$0
&
&
3*'S#9$(%&f&!)2&12&g9")
BF&HS%"2&DPE
!
%
H8[WDG%8=%Z=%[=%I=%3;9%E%L7887O?9%I7;?P%E87I%HS%*>?%
67;=836=%D=:QHC3=?9%D7C:938P%7;?R%3;9%=>?%9?L=78D%O?8?%L7H;9%
H;9?8% 9:EE?8?;=% =?8ID% 3;9% 67;9:=:7;DS% H% L87H<>=% 3;% 36=:7;% =7%
8?67F?8%E87I%8=%O>7D?%7LC:<3=:7;%O3D%3C8?39P%9H?S%8%6C3:ID%=>3=%
>?%63;;7=%L?%I39?%=7%Q3P%L?63HD?%=>?%7LC:<3=:7;D%:;6H88?9%LP%
>:D%D7C:938P%67V9?L=78D%O?8?%;7=%P?=%9H?S%R44"$G%c>?;%=>?%9?L=78D%
7E%3%D7C:938P%7LC:<3=:7;%38?%L7H;9%LP%9:EE?8?;=%=?8ID%3;9%67;9:V
=:7;DR%I3P%=>?%68?9:=78%DH?%7;?%7E%=>?If
%
%
`EOIG%B?DR%=>?%68?9:=78%I3P%DH?%=>?%7;?%O>7D?%D>38?%>3D%
3C8?39P% L?67I?% 9H?% 3;9% 9?I3;93LC?% LH=% =>?% 68?9:=78% 63;;7=%
8?67F?8%P?=%E87I%=>?%9?L=78%DH?9R%=>?%D>38?D%7E%=>?%7=>?8%9?L=78DR%
H;=:C%=>?%67;9:=:7;D%78%=?8ID%7E%=>?%7=>?8D%>3F?%3C8?39P%L??;%
EHC!%CC?9S% ";% 7=>?8% O789DR% H% I3P% 8?67F?8% ;7O% E87I% 8% 7;CP% 8\4%
D>38?e%3;9%O>?;%=>?%67;9:=:7;D%3;9%=?8ID%>3F?%L??;%EHC!%CC?9%
E78%=>?%D>38?D%7E%Z=%[=%I=%3;9%ER%=>?%68?9:=78%H%63;%8?67F?8%=>?:8%
D>38?D%E87I%8S%*>:DR%3E=?8%3CCR%:D%D=:CC%3%D7C:938P%7LC:<3=:7;S
XBY& H4)-"05
&
%
";%JUUMR%8=%Z=%3;9%[%L7H;9%=>?ID?CF?D%*(%4'-*)"0%=7%<:F?%^%
,KUURUUU%DHLW?6=%=7%=>?%E7CC7O:;<%D=:QHC3=:7;DG%8%=7%Q3P%:;%JUU1e%
Z=%:E%>?%Q3DD?D%=>?%L38e%[=%:;%JUU]S
234% ";%JUU1R%>7O%IH6>%63;%^%9?I3;9%E87I%8f
%
%
8VD9G%&;CP%,/UURUUUS%.:;6?%=>:D%:D%D7C:938PR%^%>3D%3%
8:<>=%=7%,KUURUUU%2=>?%O>7C?4%A"-i.%Z\4%D>38?%7E%,/UURUUU%
3;9%[\4%D>38?%7E%,/UURUUUR%78%3%=7=3C%7E%7;CP%,/UURUUUS%";%
JUU]R%^%63;%67CC?6=%E87I%8%=>?%,/UURUUU%6788?DQ7;9:;<%=7%
[9%*>?%I7I?;=%Z%Q3DD?D%=>?%L38R%^%63;%3CD7%67CC?6=%E87I%
8=%Z\4%D>38?%7E%,/UURUUUS
JdM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%/J/JV/J/K
2L4% .HQQ7D?%^%:;D=?39%I39?%3%9?I3;9%7;%[%:;%JUU1R%>7O%IH6>%
63;%>?%67CC?6=%E87I%[f
%
%
8VD9G%&;CP%,/UURUUUR%=>?%D>38?%6788?DQ7;9:;<%=7%8=%
L?63HD?%[\4%7O;%D>38?%>3D%;7=%P?=%I3=H8?9%3;9%Z%>3D%;7=%
P?=%Q3DD?9%=>?%L38S
%
%
cVSWEG%";%L7=>%Q87LC?IDR%=>?%8HC?%:D%=>3=%=>?%O>7C?%
D7C:938P%7LC:<3=:7;%63;%L?%8?67F?8?9%E87I%5-B%7E%=>?%D7C:V
938P%9?L=78D%A"-i.%=>?%D>38?%7E%=>7D?%O:=>%H;I3=H8?9%
67;9:=:7;D%78%=?8IDS%7D$$%<%T,(#$4,%QUP?9e
&
74(2&C?C?2&J#'S&)*0&)+&(S0&$)"%6#4Q&'406%()4$&5#Q&6)&RS#(;
0104&5#Q&-0&9$0+9"&()&(S0&)(S04$@&-9(&*)(&#*Q(S%*.&RS%'S&5#Q&
-0&840U96%'%#"&()&(S0&"#((042&
!,VVJKMW
&
G)"%6#4Q&!406%()4$&V#Q&L)&I$0+9"@&K)(&H40U96%'%#"&7'($
234% EF,0!-$%'2%Z$($!%&*,-%8&+%Y%*7%:;=?88HQ=%=>?%8H;;:;<%7E%
Q8?D68:Q=:7;R%=>?%36=%7E%7;?%D7C:938P%68?9:=78%:;%I3^:;<%3%
WH9:6:3C%9?I3;9%HQ7;%3;P%7E%=>?%D7C:938P%9?L=78D%:D%DHEV
!%6:?;=S%*>?%C3O%Q87F:9?D%=>3=G%`*>?%Q8?D68:Q=:7;%7E%36=:7;D%
:D%:;=?88HQ=?9%O>?;%=>?P%38?%!%C?9%L?E78?%=>?%!7H8=DSa%78#+9%
::BB=%:4+%&-,"4$=%[*1*-%[')$?9
2L4% K#$3")*&*,-% 8&+4% Y% D>7HC9% ;7=% L?% Q?8E78I?9R% 7=>?8O:D?R%
=>?8?%O:CC%L?%C:3L:C:=P%E78%93I3<?DS%+7O?F?8R%:;%=>?%63D?%7E%
8?I:DD:7;%78%67;97;3=:7;%2O>:6>%:D%8?3CCP%Q8?WH9:6:3C4R%=>?%
D7C:938P%68?9:=78%:D%3CC7O?9%=7%D7%8?I:=R%3;9%=>?%7LC:<3=:7;%
:D% ?Z=:;<H:D>?9R% .*+/'"+% !#$3")*&$% =7% >:D% C:3L:C:=P% =7% =>?%
7=>?8%68?9:=78DS%7D$$%8#+9%:Q:B=%[*1*-%[')$?9
&
74(2& C?CB2& 7& $)"%6#4Q& '406%()4& '#**)(& #$$%.*& S%$& 4%.S($&
R%(S)9(&(S0&')*$0*(&)+&(S0&)(S04$2
!,VVJKMW
XCY& O0*04#"&/9"0&7-)9(&K)*;7$$%.*50*(&)+&/%.S($&-Q&G)"%;
6#4Q&!406%()4
&
%
*>?%D7C:938P%68?9:=78%&,(('+%3DD:<;%>:D%8:<>=DS
Jd1
%
58=S%/J/M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
EF&$!+*'(G
%
%
+?%:D%3CC7O?9%:E%3CC%=>?%7=>?8D%67;D?;=S
%
%
X$,4'(%2'#%+/$%O,.G
%
%
(DD?;=:3CCPR%3%D7C:938P%7LC:<3=:7;%:IQC:?D%IH=H3C%3<?;6P%
3;9%IH=H3C%67;!%9?;6?S%.>7HC9%=>?%3DD:<;??%78%DHLD=:=H=?%97%36=D%
O>:6>%O7HC9%Q8?WH9:6?%=>?%7=>?8D%23D%O>?;%>?%3LD67;9D%3E=?8%
8?6?:F:;<%Q3PI?;=4R%=>?8?%:D%;7%97HL=%=>3=%=>?%7=>?8%68?9:=78_D%
8:<>=%38?%?;93;<?8?9R%>?;6?R%=>?%;?6?DD:=P%7E%=>?:8%67;D?;=S
X?Y& !4%(%'%$5&-Q&A9$(%'0&A2N2:2&/0Q0$
%
%
`*>?%8HC?%27E%;7;V3DD:<;I?;=%O:=>7H=%=>?%7=>?8_D%67;D?;=4%
:D%gi.*")"5b$(%3;9%QC36?D%3;%H;;?6?DD38P%8?D=8:6=:7;%7;%=>?%
8:<>=D%7E%=>?%D7C:938P%67V68?9:=78D%HQ7;%>:D%D>38?S%*>?%8?3D7;%
L?>:;9%:=%D??ID%=7%L?%=>3=%?36>%68?9:=78%8?Q8?D?;=D%=>?%7=>?8D%
3;9R%=>?8?E78?R%IHD=%>3F?%=>?%67;!%9?;6?%7E%=>?%C3==?8S%bH=%:;%
=>?%!%8D=%QC36?R%67;!%9?;6?%L?=O??;%67V68?9:=78D%63;;7=%Q87Q?8CP%
L?%D3:9%=7%?Z:D=%$F&$!+%:;%=>?%63D?%7E%3%D7C:938P%68?9:=%LP%67;=836=%
2;7=?%=>3=%=>?%C3O%:D%=>?%7;?%=>3=%:IQ7D?D%D7C:938:=P%:;%D7I?%7LC:V
<3=:7;DR%;7=%=>?%IH=H3C%3<8??I?;=%7E%=>?%Q38=:?D4S%";%=>?%D?67;9%
QC36?R%8?Q8?D?;=3=:7;%2LP%?36>%68?9:=784%7E%=>?%D7C:938P%68?9:=78D%
:D%68?3=?9%LP%C3O%3;9%;7=%LP%67;D?;=%78%3<8??I?;=%7E%=>?%Q38=:?DS%
"E%93;<?8%:D%D??;%:;%=>?%Q7DD:LC?%I:DE?3D3;6?%7E%=>?%3DD:<;??R%=>?%
8?I?9P%:D%;7=%=>?%Q383CPT3=:7;%7E%=>?%Q87Q8:?=38P%8:<>=D%=7%=>?%
D7C:938P%68?9:=78R%LH=%=7%:IQ7D?%HQ7;%>:I%3%4"64*)*,#5%#$4!'(4*A
6*-*+5%E78%=>?%36=D%7E%=>?%3DD:<;??R%D:I:C38%=7%=>3=%7E%=>?%3<?;=%E78%
=>?%36=D%7E%DHLV3<?;=%H;9?8%8#+9%:<>QSa%*>:D%:D%A3;8?D3_D%F:?O%
:;%>:D%67II?;=%=7%8#+9%::@:%7E%=>?%!79?%7E%/00dS%.7%=>3=%8#+9%
:Q:P%D>7HC9%>3F?%L??;%I39?%=7%8?39G%`5%D7C:938P%68?9:=78%O>7%
3DD:<;D%>:D%8:<>=D%O:=>7H=%=>?%67;D?;=%7E%>:D%67V68?9:=78D%D>3CC%
3;DO?8% DHLD:9:38:CP% E78% 3;P% Q8?WH9:6?% 63HD?9% =7% =>?% C3==?8% LP%
=>?%3DD:<;??%:;%67;;?6=:7;%O:=>%=>?%68?9:=Sa%7O,.5$#\4%Y'"#(,-=%
S64$#1,+*'(4%'(%+/$%($.%[*1*-%[')$=%Y,(9%P:=%:>B:=%!9%@<?9
!
74(2& C?CF2& MS0& 60-()4& 5#Q& 8#Q& #*Q& )*0& )+& (S0& $)"%6#4Q&
'406%()4$h& -9(& %+& #*Q& 605#*6@& U96%'%#"& )4& 0`(4#U96%'%#"@& S#$&
-00*&5#60&-Q&)*0&)+&(S05@&8#Q50*(&$S)9"6&-0&5#60&()&S%52&
JdN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J/M
!,VVJKMW
XCY& M)&ZS)5&L0-()4&V9$(&H#Q
234% =7%,(5%7E%=>?%D7C:938P%68?9:=78D
2L4% $F&$!+*'(%]%Q3PI?;=%IHD=%L?%I39?%=7%D7C:938P%68?9:=78%
O>7%I39?%3%9?I3;9%73")*&*,-%'#%$F+#,3")*&*,-?
X?Y& H4)-"05$
234% 8%3;9%Z%38?%D7C:938P%9?L=78D%7E%[=%I=%3;9%E=%D7C:938P%68?9:V
=78DS%A3P%8%Q3P%[%=>?%./'-$%7LC:<3=:7;f
%
8VD9G%B?DR%Q87F:9?9R%;7%3")*&*,-%78%$F+#,3")*&*,-%9?I3;9%
>39%L??;%I39?%LP%?:=>?8%I%78%E9
2L4% 8%3;9%Z%38?%D7C:938P%9?L=78D%7E%[=%I=%3;9%ER%D7C:938P%68?9:V
=78DS%E%I3^?D%WH9:6:3C%9?I3;9S%*>?8?%:D%;7%?Z=83WH9:6:3C%
9?I3;9%HQ7;%8S%*7%O>7I%D>7HC9%8%Q3Pf
%
%
8VD9G%&;CP%E=%O>7%>39%I39?%=>?%WH9:6:3C%9?I3;9S%
,3PI?;=%=7%3;P%7=>?8%68?9:=78%O:CC%;7=%?Z=:;<H:D>%=>?%7LV
C:<3=:7;%?Z6?Q=%:;D7E38%3D%=>?%Q3P??_D%D>38?%:D%67;6?8;?9S
264%
8%3;9%Z%38?%D7C:938P%9?L=78D%7E%[=%I=%3;9%E=%D7C:938P%68?9:V
=78DS%[%I3^?D%3%WH9:6:3C%9?I3;9%7;%8S%!3;%I%3;9%E%DH?%
8f
%
%
8VD9G%";%=>?%I?3;=:I?R%;7R%L?63HD?%[%:D%DHQQ7D?9%=7%
L?%8?Q8?D?;=:;<%3C8?39P%I%3;9%ES%"E%WH9<I?;=%:D%8?;9?8?9%
3<3:;D=%8=%3;9%8%97?D%;7=%>3F?%?;7H<>%I7;?PR%=>?;%I=%E=%
78%[%2:;9:F:9H3CCP%78%67CC?6=:F?CP4%I3P%D=:CC%DH?%Z%E78%=>?%
8?I3:;9?8S%bH=%:=%:D%?DD?;=:3C%=>3=%=>?%!%8D=%36=:7;%L?%!%8D=%
=?8I:;3=?9S
294% 8%3;9%Z%38?%D7C:938P%9?L=78D%7E%[=%I=%3;9%E9%[%I3^?D%3;%
$F+#,3")*&*,-%9?I3;9%HQ7;%8=%O>7%97?D%;7=%Q3PS%!3;%I%3;9%
E%DH?%2WH9:6:3C%9?I3;94%8f
%
%
8VD9G% 5C=>7H<>% D=8:6=CP% DQ?3^:;<R% =>?% 3;DO?8% I3P%
L?%:;%=>?%-(h5*"#(%D:;6?%H;9?8%=>?%C3O%Q3PI?;=%IHD=%
L?% I39?% =7% [R% O>7% >39% I39?% =>?% ?Z=83WH9:6:3C% 9?I3;9R%
D=:CC%=>?%C3O%D>7HC9%;7=%L?%67;D=8H?9%=7%?EE?6=%3;%,64"#)*+5%
:;%=>3=%I%3;9%E%O7HC9%L?%67IQ?CC?9%=7%3"4+%4+,()%65%*)-5=%
D:;6?%[%97?D%;7=%:;D=:=H=?%3;P%WH9:6:3C%36=:7;S%.:;6?%[\4%36=%
Jd]
%
58=S%/J/1
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
278%:;36=:7;4%:D%Q8?WH9:6:3C%=7%I%3;9%E=%=>?%=O7%7I%3;9%E?%
D>7HC9%L?%3CC7O?9%=7%I3^?%=>?%WH9:6:3C%9?I3;9S%7D$$%8#+9%
:Q:Q=%[*1*-%[')$?9
2?4% 8%3;9%ZR%D7C:938:CP%9?L=78DR%38?%:;9?L=?9%=7%[=%I=%3;9%ER%
4'-*),#5%68?9:=78DS%[%$F+#,3")*&*,--5%9?I3;9D%E87I%8=%LH=%
Z%2HQ7;%O>7I%;7%9?I3;9%>3D%L??;%I39?4R%Q3PD%=>?%O>7C?%
9?L=%=7%ES%"D%Z%3CC7O?9%=7%97%=>3=R%3;9%:D%=>?%D7C:938P%7LC:V
<3=:7;%?Z=:;<H:D>?9f
%
%
8VD9G%B?DR%E78%3E=?8%3CC%;7%9?I3;9%>39%L??;%I39?%LP%
[%HQ7;%ZS%"=%:D%7;CP%8%=>3=%:D%L7H;9R%;7=%Z9%7D$$%<%T,(#$4,%
Q:U?9
&
74(2&C?C=2&K)1#(%)*@&')580*$#(%)*@&')*+9$%)*&)4&405%$;
$%)*&)+&(S0&60-(@&5#60&-Q&#*Q&)+&(S0&$)"%6#4Q&'406%()4$&)4&R%(S&
#*Q&)+&(S0&$)"%6#4Q&60-()4$@&$S#""&0`(%*.9%$S&(S0&)-"%.#(%)*@&
R%(S)9(&840U96%'0&()&(S0&84)1%$%)*&)+&74(%'"0&C?CD2
&
MS0&'406%()4&RS)&5#Q&S#10&0`0'9(06&#*Q&)+&(S0$0&#'($@&#$&
R0""&#$&S0&RS)&')""0'($&(S0&60-(@&$S#""&-0&"%#-"0&()&(S0&)(S04$&
+)4&(S0&$S#40&%*&(S0&)-"%.#(%)*&')440$8)*6%*.&()&(S052
!,VVJKMW
XCY& J++0'(&)+&K)1#(%)*
&
%
-7F3=:7;%:D%=>?%I79:!%63=:7;%7E%3;%7LC:<3=:7;%LP%6>3;<:;<%
:=D%7LW?6=%78%Q8:;6:Q3C%67;9:=:7;DR%78%LP%DHLD=:=H=:;<%=>?%Q?8D7;%
7E%=>?%9?L=78R%78%LP%DHL87<3=:;<%=>?%Q?8D7;%7E%=>?%9?L=78R%78%LP%
DHL87<3=:;<%3%=>:89%Q?8D7;%:;%=>?%8:<>=D%7E%68?9:=78S%78#+9%:Q>:=%
[*1*-%[')$?9
234% EF,0!-$G
%
8%3;9%Z%38?%D7C:938:CP%C:3LC?%=7%^%3;9%f=%D7C:938P%68?9:=78DR%
E78%=>?%Q3PI?;=%7E%,0UURUUUS%8%3;9%^%3<8??9%=>3=%:;D=?39%
7E%Q3P:;<%,0UURUUUR%8%O:CC%WHD=%Q3:;=%^\4%>7HD?%2:;6CH9:;<%
67D=D%7E%=>?%Q7:;=D%=7%L?%HD?94S%+?8?%=>?%D7C:938P%7LC:<3=:7;%
7E%Q3P:;<%,0UURUUU%:D%$F+*(J"*4/$)%LH=%3%;?O%7;?R%=>3=%7E%
Q3:;=:;<%^\4%>7HD?R%>3D%38:D?;S%"E%Z%9:9%;7=%67;D?;=%=7%=>?%
;7F3=:7;R%Z%O:CC%;7=%L?%L7H;9%=7%^%3;9%f%:;%3;P%O3PR%3;9%
I78?7F?8R% O:CC% ;7=% L?% 7LC:<?9% =7% <:F?% 8% 3;P=>:;<% ?Z6?Q=%
:;D7E38%3D%>?%7Z?%>3D%L??;%L?;?!%=?9S%iQ7;%=>?%7=>?8%>3;9R%
Jd0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J/1
7;CP%^%O:CC%L?%3CC7O?9%=7%Q8?WH9:6?%>:D%67V68?9:=78%f=%D7%^%
IHD=%8?:ILH8D?%f%E78%,MUURUUU%2O>:6>%:D%8?3CCP%f\4%D>38?%
7E%=>?%68?9:=4S%78#+9%:Q:B=%Q()%!,#9?9
2L4% 8%3;9%Z%38?%D7C:938P%9?L=78D%7E%^S%"E%8%:D%<83;=?9%3;%$F+$(A
4*'(%'2%+*0$%O:=>:;%O>:6>%=7%Q3PR%:D%Z%8?C?3D?9%E87I%=>?%
7LC:<3=:7;f
%
%
8VD9G%-7S%7D$$%K/*-9%N",#,(+5%19%Y'4$=%S9N9%8"J9%:;=%
:>@:=%!9%:@CB?9%*>?%7;CP%?EE?6=%:D%=>:DG%:E%^%DH?D%Z=%Z%O:CC%Q3P%
=>?%O>7C?%9?L=%0*("4%=>?%D>38?%7E%89%c>?;%=>?%?Z=?;9?9%
Q?8:79%=?8I:;3=?DR%^%63;%9?I3;9%=>?%8?I3:;:;<%L3C3;6?%
78\4%4/,#$?%E87I%?:=>?8%8%78%Z9%5;9%:E%Z%Q3PD%3<3:;R%Z%O:CC%
;7O%>3F?%=>?%8:<>=%=7%67CC?6=%8?:ILH8D?I?;=%E87I%8=%E78%
8\4%D>38?S%7D$$%R(&/,"4+*%,()%['9%19%f"-'=%P@%K/*-9%>C<?9
%
%
cVSWEG% *>?% 8HC?% :D% 9:EE?8?;=% :;% DH8?=PD>:QR% O>?8?%
3C=>7H<>% =>?% DH8?=P% :D% 3CD7R% :;% 3% O3PR% 3% D7C:938P% 9?L=78R%
3;%?Z=?;D:7;%7E%=:I?%=7%=>?%Q8:;6:Q3C%9?L=78%O:=>7H=%=>?%
DH8?=P_D%67;D?;=%O:CC%#$-$,4$%=>?%DH8?=P%E87I%=>?%67;=836=S%
7D$$%K/*-9%V,+9%Z,(L%19%d$#,J"+/=%BU%K/*-9%QBP?9e
X?Y& J++0'(&)+&!)580*$#(%)*
&
%
['0!$(4,+*'(%:D%=>3=%O>:6>%=3^?D%QC36?%O>?;%=O7%Q?8D7;DR%
:;%=>?:8%7O;%8:<>=R%38?%68?9:=78D%3;9%9?L=78D%7E%?36>%7=>?8S%78#+9%
:QC<=%[*1*-%[')$?%Y%23D%O>?;%8%7O?D%Z%,/RUUURUUU%3;9%Z%7O?D%
8%,/RUUURUUU4S%!7IQ?;D3=:7;%I3P%L?%+'+,-%78%!,#+*,-=%9?Q?;9V
:;<% HQ7;% =>?% 3I7H;=% :;F7CF?9S% *7=3C% 67IQ?;D3=:7;% 7E% 67H8D?%
3H=7I3=:63CCP% ?Z=:;<H:D>?D% =>?% 7LC:<3=:7;R% O>?=>?8% ^;7O;% 78%
H;^;7O;%=7%=>?%Q38=:?DS%7D$$%8#+9%:Q>U=%[*1*-%[')$?9
234% EF,0!-$%'2%W'+,-%['0!$(4,+*'(%*(%['(($&+*'(%.*+/%D'-*A
),#5%S6-*J,+*'(G
%
%
8%3;9%Z%38?%D7C:938P%9?L=78D%7E%^%3;9%fR%D7C:938P%68?9:V
=78D%=7%=>?%3I7H;=%7E%,MUURUUUS%bH=%^%'.$4%8%,MUURUUU%7;%
3667H;=%7E%3%9:EE?8?;=%7LC:<3=:7;S%+?8?%O?%>3F?%3%63D?%7E%
,"+'0,+*&%$F+*(J"*4/0$(+%'E%=>?%7LC:<3=:7;%LP%F:8=H?%7E%=7=3C%
67IQ?;D3=:7;S%bH=%Z%D>7HC9%;7=%L?;?!%=%67IQC?=?CP%D:;6?%
:=%O3D%8\4%68?9:=%=>3=%O3D%HD?9%=7%67IQ?;D3=?S%.7%Z%7O?D%
8%,JUURUUU%2>:D%D>38?%7E%=>?%9?L=4S%iQ7;%=>?%7=>?8%>3;9R%
f%D>7HC9%;7=%L?%Q8?WH9:6?9R%D7%f%63;%8?67F?8%,JUURUUU%2>:D%
68?9:=4%E87I%^9%78#+9%:Q:B=%!,#9%Q?9
Jdd
%
58=S%/J/1
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2L4% EF,0!-$%'2%K,#+*,-%['0!$(4,+*'(%*(%['(($&+*'(%.*+/%D'-*A
),#5%S6-*J,+*'(4G
%
%
8%3;9%Z%38?%D7C:938P%9?L=78D%7E%[%=7%=>?%3I7H;=%7E%
,JRUUURUUUR%LH=%[%:D%:;9?L=?9%=7%8%E78%,1UURUUUS%*>:D%:D%3%
63D?%7E%!,#+*,-%67IQ?;D3=:7;R%3;9%=>?8?E78?%=>?%D7C:938P%
7LC:<3=:7;%3I7H;=:;<%=7%,/R1UURUUU%D=:CC%DHLD:D=DS
XBY& J++0'(&)+&!)*+9$%)*&X)4&V04.04Y
&
%
['(2"4*'(%'#%0$#J$#%:D%=>3=%O>:6>%=3^?D%QC36?%O>?;%=>?%
6>3836=?8D%7E%68?9:=78%3;9%9?L=78%38?%I?8<?9%:;%=>?%D3I?%Q?8V
D7;%78#+9%:QCB=%[*1*-%[')$?=%3D%O>?;%IP%6>?6^%:;%=>?%67H8D?%7E%
;?<7=:3=:7;R%:D%?F?;=H3CCP%?;978D?9%=7%I?S
%
EF,0!-$G
%
%
8%3;9%Z%I39?%3%;?<7=:3LC?%Q87I:DD78P%;7=?%:;%E3F78%7E%[%
3;9%IR%O>?8?LP%8%3;9%Z%L7H;9%=>?ID?CF?D%D7C:938:CP%=7%[%3;9%
I=%D7C:938P%68?9:=78DS%[%3;9%I%?;978D?9%=>?%;7=?%:;%E3F78%7E%Eh%
E%:;%E3F78%7E%Hh%H%:;%E3F78%7E%89%-7=:6?%=>3=%8R%./'%*4%,%)$6+'#=%
;7O%L?67I?D%3%68?9:=78S%*>?8?%:D%I?8<?8%78%67;EHD:7;%7E%8:<>=D%
>?8?e%=>?%D7C:938P%7LC:<3=:7;%:D%?Z=:;<H:D>?9e%LH=%Z%:D%:;9?L=?9%
=7%8%E78%>:D%7Z\4?%D>38?%7E%=>?%9?L=S
XFY& J++0'(&)+&/05%$$%)*&X)4&Z#%104Y
&
%
@?I:DD:7;% 78% O3:F?8% :D% =>3=% 36=% 7E% C:L?83C:=P% O>?8?LP% 3%
68?9:=78%&'()'($4%=>?%7LC:<3=:7;%7E%=>?%9?L=78e%=>3=%O>?8?%=>?%
68?9:=78%=?CCD%=>?%9?L=78%=7%`E78<?=%3L7H=%=>?%O>7C?%=>:;<Sa%7D$$%
8#+9%:QCU=%[*1*-%[')$?9%7X$0*44*'(%0,5%6$%+'+,-%'#%!,#+*,-?9
234% EF,0!-$%'2%W'+,-%X$0*44*'(G
%
%
8% 3;9% Z% 38?% 4'-*),#5% 9?L=78D% 7E% ^% 3;9% fR% D7C:938P%
68?9:=78D% =7% =>?% 3I7H;=% 7E% ,M% I:CC:7;S% ^% =?CCD% 8% =>3=% >?%
O3D%O3:F:;<%=>?%O>7C?%7LC:<3=:7;S%+?8?R%=>?%=7=3C%8?I:DV
D:7;%67IQC?=?CP%?Z=:;<H:D>?D%=>?%O>7C?%7LC:<3=:7;R%O:=>7H=%
Q8?WH9:6?%=7%f%67CC?6=:;<%E87I%^%>:D%7f\4?%D>38?%7E%=>?%68?9:=%
7E%,J%I:CC:7;R%7=>?8O:D?%^\4%8?I:DD:7;%O7HC9%Q8?WH9:6?%fS%
iQ7;%=>?%7=>?8%>3;9R%Z%97?D%;7=%>3F?%=7%8?:ILH8D?%8%E78%
3;P=>:;<R%2'#%,2+$#%,--%=>?%8?I:DD:7;%O3D%3%<83=H:=7HD%36=R%
3;9%8%9:9%;7=%>3F?%=7%<:F?%3;P=>:;<%=7%=>?%68?9:=78DS%7D$$%
<%T,(#$4,=%!!9%QQBAQQ;?9
KUU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J/N
2L4% EF,0!-$%'2%K,#+*,-%X$0*44*'(G
%
%
8=%Z=%3;9%[%38?%D7C:938P%9?L=78D%7E%^%:;%=>?%3I7H;=%
7E%,K%I:CC:7;S%^%=>?;%I39?%3%9?I3;9%E87I%8%LH=%67CC?6=?9%
7;CP%,J%I:CC:7;%L?63HD?%>?%7^?%O3D%8?I:==:;<%8\4%D>38?%27E%
,/%I:CC:7;4S%+7O%IH6>%63;%8%8?67F?8%E87I%Z%3;9%[f
%
%
8VD9G%&;CP%,/%I:CC:7;%E87I%?36>%L?63HD?%=>?%D7C:938P%
9?L=%7E%,K%I:CC:7;%>39%L??;%8?9H6?9%LP%Q38=:3C%8?I:DD:7;%
=7%7;CP%,J%I:CC:7;S
%
%
cVSWEG%"=%E7CC7ODR%:;%=>?%?Z3IQC?%<:F?;R%=>3=%8%63;%
L?%8?:ILH8D?9%=>?%O>7C?%,J%I:CC:7;%2QCHD%:;=?8?D=%:;%=>?%
Q87Q?8%63D?4R%3;9%=>?8?E78?%:=%:D%3D%:E%8%9:9%;7=%>3F?%=7%Q3P%
E87I%>:D%7O;%Q76^?=S%*>:D%:D%6"+%3"4+%L?63HD?%3E=?8%3CCR%8\4%
D>38?%>39%L??;%8?I:==?9S%*>:D%?Z3IQC?%:D%3CD7%3%6788?6=%:CV
CHD=83=:7;%7E%=>?%8HC?%=>3=%3%Q38=:3C%8?I:DD:7;%L?;?!%=D%5$$%
:;%=>3=%=>?%D7C:938P%9?L=%:D%)*0*(*4/$)R%D7%=>3=%:E%8%>39%;7=%
L??;%3LC?%=7%Q3PR%78%>39%=>?%68?9:=78%6>7D?;%=7%67CC?6=%E87I%
?:=>?8%Z%78%[R%>?%63;%9?I3;9%;7=%,K%I:CC:7;%LH=%7;CP%,J%
I:CC:7;S%7D$$%R(&/,"4+*%n%['9%19%f"-'=%P@%K/*-9%>C<?9e
%
%
2VSWEG%5C=>7H<>%E87I%D3:9%F:?OQ7:;=%3CC%>39%L??;%
L?;?!%=?9R%:=%D>7HC9%L?%;7=?9%=>3=%=>?%:;9:F:9H3C%D>38?D%7E%
Z%3;9%[%>3F?%-&*%8?3CCP%L??;%9:I:;:D>?9S4
%
%
2VSWEG%i;9?8%58=S%/J/dR%:E%=>?%D>38?%7E%3%D7C:938P%
9?L=78% :D% #$0*++$)% LP% =>?% 68?9:=78% 3E=?8% 3;7=>?8% D7C:938P%
9?L=78% >39% Q3:9% =>?% ./'-$% 7LC:<3=:7;R% =>?% 8?I:DD:7;% :D%
HD?C?DD%L?63HD?%=>?8?%O3D%8?3CCP%;7=>:;<%I78?%=>?%68?9:=78%
67HC9%8?I:=%:;%F:?O%7E%=>?%&'0!-$+$%Q3PI?;=S%";%DH6>%3%63D?R%
=>?%9?L=78%O>7D?%D>38?%O3D%8?I:==?9%63;%D=:CC%L?%I39?%=7%
8?:ILH8D?%>:D%D>38?%=7%=>?%Q3P78V9?L=78S%R(2$#$(+*,--5R%>39%
8?I:DD:7;%Q8?6?9?9%Q3PI?;=R%=>?%9?L=78%O>7D?%D>38?%>3D%
L??;%8?I:==?9%63;;7=%L?%I39?%=7%8?:ILH8D?%3;P=>:;<R%E78%
3E=?8%3CCR%=>?%Q3P78V9?L=78%O:CC%>3F?%Q3:9%7;CP%=>?%6,-,(&$%
7E%=>?%9?L=%23E=?8%9?9H6=:;<%=>?%D>38?%7E%=>?%9?L=78D%O>7%
>3D%8?6?:F?9%=>?%L?;?!%=%7E%=>?%8?I:DD:7;4S
&
74(2&C?C<2&MS0&'406%()4&5#Q&84)'006&#.#%*$(&#*Q&)*0&)+&(S0&
$)"%6#4Q&60-()4$&)4&$)50&)4&#""&)+&(S05&$%59"(#*0)9$"Q2&MS0&
605#*6&5#60&#.#%*$(&)*0&)+&(S05&$S#""&*)(&-0&#*&)-$(#'"0&()&
(S)$0&RS%'S&5#Q&$9-$0_90*("Q&-0&6%40'(06&#.#%*$(&(S0&)(S04$@&
$)&")*.&#$&(S0&60-(&S#$&*)(&-00*&+9""Q&')""0'(062
KU/
%
58=S%/J/N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& 7.#%*$(&ZS)5&!406%()4&V#Q&H4)'006
&
%
5<3:;D=%,(5=%4'0$=%78%,--%7E%=>?%D7C:938P%9?L=78D%Y%4*0"-A
+,($'"4-59
&
&
&
&
%
%
c>?;%=>?%C3O%?ZQ8?DDCP%Q87F:9?D%E78%D7C:938:=P%7E%=>?%7LC:V
<3=:7;R%3D%:;%=>?%C:3L:C:=P%7E%67VQ8:;6:Q3CD%:;%3%67;=836=%7E%3<?;6PR%
?36>%7LC:<78%I3P%L?%67IQ?CC?9%=7%Q3P%=>?%?;=:8?%7LC:<3=:7;S%*>?%
3<?;=%I3P%8?67F?8%=>?%O>7C?%67IQ?;D3=:7;%E87I%3;P%7;?%7E%=>?%
67VQ8:;6:Q3CD%:;%3%67;=836=%7E%3<?;6PR%?36>%7LC:<78%I3P%L?%67IV
Q?CC?9%=7%Q3P%=>?%?;=:8?%7LC:<3=:7;S%*>?%3<?;=%I3P%8?67F?8%=>?%
O>7C?%67IQ?;D3=:7;%E87I%3;P%7;?%7E%=>?%67VQ8:;6:Q3CDR%3D%:;%=>:D%
63D?S
%
%
";9??9%58=S%/J/N%7E%=>?%!:F:C%!79?%Q87F:9?D%=>3=%3%68?9:=78%
I3P%DH?%3;P%7E%=>?%D7C:938P%9?L=78DS%.7C:938:=P%97?D%;7=%I3^?%
3%D7C:938P%7LC:<78%3;%:;9:DQ?;D3LC?%Q38=P%:;%3%DH:=%!%C?9%LP%=>?%
68?9:=78S%58=S%/J/N%D3PD%=>3=%=>?%68?9:=78%I3P%Q876??9%3<3:;D=%
3;P7;?%7E%=>?%D7C:938P%9?L=78D%78%D7I?%78%3CC%7E%=>?I%D:IHC=3;?V
7HDCPS
!)*$(#*(0&75)4&60&!#$(4)&12&!7
O/&CCEBE@&A9"2&CE@&?>>?
X?Y& J++0'(&)+&K)(&H4)'006%*.&7.#%*$(&7""
&
%
"E%=>?%68?9:=78%DH?D%7;CP%7;?R%78%=O7R%78%D?F?83C%7E%=>?%9?L=78D%
2LH=%;7=%3CC4%=>?8?%:D%;7%O3:F?8%3<3:;D=%=>7D?%;7=%P?=%DH?9S%*>?P%
I3P%L?%Q876??9?9%3<3:;D=%C3=?8S%7D$$%8#+9%:Q:;h%4$$%,-4'%N"$##$#'%
19%['"#+%'2%8!!$,-4=%OAQQP;;=%S&+9%PU=%:>;>?9
XBY& 788"%'#-%"%(Q&)+&74(2&C?C<
&
%
-7=?%=>3=%58=S%/J/N%3QQC:?D%7;CP%=7%4'-*),#5%7LC:<3=:7;DR%
('+% =7% 3'*(+% 7;?DR% E78% :;% =>?% C3==?8R% E3:CH8?% =7% 67CC?6=% E87I% 7;?%
W7:;=%9?L=78%>:D%D>38?%97?D%;7=%3H=>78:T?%=>?%68?9:=78%=7%Q876??9%
3<3:;D=%=>?%7=>?8DR%8?<389:;<%=>?%:;D7CF?;=%9?L=78_D%D>38?S%7D$$%
O"(,%19%8#&$(,4=%P@%K/*-9%<U?9
&
&
HS%"2&K#(%)*#"&N#*T&12&!)*'08'%)*&V%*%*.&!)2@&0(&#"2
:;C<D<E@&A9"2&BC@&CD<?
&
%
H8[WDG% ";% 3% D7C:938P% 7LC:<3=:7;% ?F:9?;6?9% LP% 3% Q87I:DV
D78P%;7=?R%=>?%D7C:938P%9?L=78D%O?8?%=>?%!7;6?Q6:7;%A:;:;<%!7SR%
KUJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J/N
#:6?;=?%$S%$?<3893R%3;9%g7D?%.S%.38=?S%$?<3893%O3D%;7=%DH?9R%
>7O?F?8R%L?63HD?%>?%>39%9:?9%L?E78?%=>?%DH:=%L?<3;S%*>?%7=>?8%
9?L=78D%=>?;%3D^?9%=>3=%=>?%$4+,+$%7E%$?<3893%L?%:;6CH9?9%3D%3%
Q38=PV9?E?;93;=S
%
%
`EOIG% *>?% ?D=3=?% 7E% $?<3893% 97?D% ;7=% >3F?% =7% L?% DH?9%
D:;6?%H;9?8%58=S%/J/NR%=>?%68?9:=78%78%Q3P??%7E%=>?%Q87I:DD78P%
;7=?%I3P%DH?%5-B%7E%=>?%D7C:938P%9?L=78DS
&
&
HS%"2&K#(%)*#"&N#*T&12&K901#$
:;?C?==@&K)12&?D@&CD<=
&
%
58=S% /J/N% 3QQC:?D% ?F?;% :E% =>?% DH:=% :D% E78% =>?% 8?F:F3C% 7E% 3%
WH9<I?;=S%+?;6?R%:E%:;%=>?%WH9<I?;=R%3CC%=>?%9?L=78D%O?8?%9?V
6C38?9%`W7:;=CP%3;9%D?F?83CCP%C:3LC?Ra%=>?%$(+*#$%WH9<I?;=%I3P%L?%
?;E786?9%3<3:;D=%5-B%7E%=>?IS
&
&
,804#()4$&3*')48)4#(06&12&7504%'#*&N%$'9%(&!)2@&3*'2
O/&BFP<P@&,'(2&?B@&CDEP
%
%
(F?;%:E%=>?%D7C:938P%;3=H8?%7E%=>?%9?L=78_D%C:3L:C:=P%:D%D?CEV
?F:9?;=R% =>?% 68?9:=78% 63;;7=% 9:D8?<389% 3;% 38L:=83=:7;% 6C3HD?%
D=:QHC3=?9%:;%=>?%67;=836=DS%.7C:938:=P%97?D%;7=%I3^?%3%D7C:938P%
7LC:<78%3;%:;9:DQ?;D3LC?%Q38=P%:;%3%DH:=%!%C?9%LP%=>?%68?9:=78S
XFY& H#$$%10&G)"%6#4%(Q
%
%
58=S%/J/N%3QQC:?D%=7%O>3=%:D%63CC?9%!,44*1$%4'-*),#*+5%2D7C:V
938:=P%3I7;<%=>?%9?L=78D4S%"=%63;%3CD7%3QQCP%=7%0*F$)%D7C:938V
:=PS
X=Y& H#$$%10&G)"%6#4%(Q&#*6&G940(Q$S%8
234% D*0*-,#*+*$4
/4%
b7=>% =>?% D7C:938P% 9?L=78% 3;9% =>?% DH8?=P% <H383;=??%
E78%,('+/$#%Q?8D7;S
J4%
b7=>%63;%9?I3;9%8?:ILH8D?I?;=S
2L4% I*22$#$(&$4
/4%
*>?% D7C:938P% 9?L=78% :D% :;9?L=?9% E78% >:D% 7O;% D>38?%
7;CPe%=>?%DH8?=P%:D%:;9?L=?9%7;CP%E78%=>?%D>38?%7E%=>?%
Q8:;6:Q3C%9?L=78S
KUK
%
58=S%/J/N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
J4%
+?;6?R%=>?%D7C:938P%9?L=78%63;%L?%8?:ILH8D?9%O>3=%
>?%>3D%Q3:9%A"-i.%>:D%7O;%D>38?e%=>?%DH8?=P%63;%L?%
8?:ILH8D?9%E78%?F?8P=>:;<%>?%Q3:9S
K4%
"E%3%D7C:938P%9?L=78%8?6?:F?D%3;%?Z=?;D:7;%7E%=>?%Q?8:79%
E78%Q3PI?;=R%=>?%7=>?8D%38?%D=:CC%-*,6-$%E78%=>?%O>7C?%
7LC:<3=:7;%;7OR%0*("4%=>?%D>38?%7E%=>?%9?L=78%O>7%>3D%
8?6?:F?9%=>?%?Z=?;D:7;%2LH=%D3I?%D>38?%63;%L?%9?I3;9V
3LC?%3CD7%E87I%=>?I%HQ7;%=>?%388:F3C%7E%=>?%?Z=?;9?9%
=?8I4S% "E% 3% Q8:;6:Q3C% 9?L=78% 8?6?:F?D% 3;% ?Z=?;D:7;R%
O:=>7H=%=>?%DH8?=P_D%67;D?;=R%=>?%DH8?=P%:D%8?C?3D?9S%
7D$$% K/*-9% N",#,(+5% 19% Y'4$=% S9N9=% 8"J9% :;=% :>@:=% !9%
:@CB%,()%D+$1$(4'(%19%[-*0,&'=%P;%S9N9%:BC:?9
X<Y& J`#58"0$
234% 8% 3;9% Z% 38?% D7C:938P% 9?L=78D% 7E% [% =7% =>?% 3I7H;=% 7E%
,/RUUURUUUS%(:=>?8%8%78%Z%I3P%L?%I39?%=7%Q3P%=>?%O>7C?%
,/RUUURUUU%LH=%=>?%Q3P?8%63;%67CC?6=%>3CE%2,1UURUUU4%E87I%
=>?%7=>?8%2D:;6?%?36>%:D%3%Q8:;6:Q3C%9?L=784S
2L4% 8% L7887O?9% E87I% [% ,/RUUURUUUS% Z% 36=?9% 3D% DH8?=P% 2D7C:V
938P% <H383;=784% E78% 89% [% 63;% 9?I3;9% ,/RUUURUUU% E87I%
?:=>?8%8%78%ZS%bH=%:E%Z%:D%I39?%=7%Q3PR%Z%63;%9?I3;9%=>?%
O>7C?%,/RUUURUUU%E87I%8%D:;6?%Z%:D%;7=%8?3CCP%3%Q8:;6:Q3C%
9?L=78S
%
%
cVSWEG% 5% <H383;=78% L:;9D% >:ID?CE% DHLD:9:38:CP% =7%
3;DO?8% E78% =>?% Q8:;6:Q3C% 9?L=78R% :;% 63D?% 7E% :;D7CF?;6Pe%
>?;6?R% =>?% 68?9:=78% &,(('+% :II?9:3=?CP% Q876??9% 3<3:;D=%
=>?%<H383;=78e%3%DH8?=P%:D%3%<H383;=78%O>7%L:;9D%/*04$-2%
4'-*),#*-5% O:=>% =>?% Q8:;6:Q3C% 9?L=78R% >?;6?R% 68?9:=78% 63;%
Q876??9%3<3:;D=%=>?%DH8?=P%:II?9:3=?CP%2=>3=%:DR%O:=>7H=%
!%8D=%?Z>3HD=:;<%=>?%Q87Q?8=:?D%7E%=>?%Q8:;6:Q3C%9?L=784S%7D$$%
8#+9%QU@C=%[*1*-%[')$?9e
XPY& H4)-"05$
234% 8%3;9%Z%38?%D7C:938P%9?L=78D%7E%^%3;9%f%=7%=>?%3I7H;=%7E%
,M%I:CC:7;S%^%DH?9%8%LH=%8?67F?8?9%7;CP%,KS1%I:CC:7;S%A3P%
f%D=:CC%DH?%Z%E78%,1UURUUUf
%
%
8VD9G%B?DR%L?63HD?%=>?%9?L=%>3D%('+%5$+%L??;%?;=:8?CP%
D3=:D!%?9S
KUM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J/]
2L4% 8%3;9%Z%38?%D7C:938P%9?L=78D%7E%^%3;9%fS%^%DH?D%8%LH=%8%
O:;D%=>?%63D?%2E78%?Z3IQC?R%7;%=>?%<87H;9%=>3=%=>?%DHLW?6=%
I3==?8%:D%:CC?<3C4S%!3;%f%D=:CC%DH?%Zf
%
%
8VD9G%-7%I78?%L?63HD?%>?8?%=>?%Q8:;6:QC?%7E%#$4%3"A
)*&,+,%6C?38CP%3QQC:?DS%.:;6?%^%O3D%8?Q8?D?;=:;<%fR%=>?8?%
O7HC9%L?%:9?;=:=P%7E%Q38=:?DS
&
74(2&C?CP2&H#Q50*(&5#60&-Q&)*0&)+&(S0&$)"%6#4Q&60-()4$&
0`(%*.9%$S0$&(S0&)-"%.#(%)*2&3+&(R)&)4&5)40&$)"%6#4Q&60-()4$&
)++04&()&8#Q@&(S0&'406%()4&5#Q&'S))$0&RS%'S&)++04&()&#''08(2
&
\0&RS)&5#60&(S0&8#Q50*(&5#Q&'"#%5&+4)5&S%$&');60-()4$&
)*"Q&(S0&$S#40&RS%'S&')440$8)*6$&()&0#'S@&R%(S&(S0&%*(040$($&
+)4&(S0&8#Q50*(&#"40#6Q&5#602&3+&(S0&8#Q50*(&%$&5#60&-0+)40&
(S0&60-(&%$&690@&*)&%*(040$(&+)4&(S0&%*(0410*%*.&804%)6&5#Q&-0&
605#*6062
&
ZS0*& )*0& )+& (S0& $)"%6#4Q& 60-()4$& '#**)(@& -0'#9$0& )+&
S%$&%*$)"10*'Q@&40%5-94$0&S%$&$S#40&()&(S0&60-()4&8#Q%*.&(S0&
)-"%.#(%)*@&$9'S&$S#40&$S#""&-0&-)4*0&-Q&#""&S%$&');60-()4$@&%*&
84)8)4(%)*&()&(S0&60-(&)+&0#'S2&
!,VVJKMW
XCY& J++0'($&)+&H#Q50*(
&
%
*>?%58=:6C?%<:F?D%=>?%?EE?6=D%7E%Q3PI?;=S
X?Y& jH#Q50*(d&L0!&*06
&
%
,3PI?;=%:D%7;?%7E%=>?%O3PD%LP%O>:6>%3;%7LC:<3=:7;%:D%?Z=:;V
<H:D>?9%3;9%67;D:D=D%:;%=>?%9?C:F?8P%7E%=>?%=>:;<%78%=>?%8?;9:=:7;%
7E%=>?%D?8F:6?%O>:6>%:D%=>?%7LW?6=%7E%=>?%7LC:<3=:7;S
XBY& H4)-"05$
234% "E%3%D7C:938P%9?L=78%Q3PD%=>?%68?9:=78R%O>3=%>3QQ?;D%=7%=>?%
7LC:<3=:7;f
%
%
8VD9G%*>?%7LC:<3=:7;%:D%?Z=:;<H:D>?9S%`,3PI?;=%I39?%
LP%7;?%7E%=>?%D7C:938P%9?L=78D%?Z=:;<H:D>?D%=>?%7LC:<3=:7;Sa%
7:4+%4$(+$(&$=%8#+9%:Q:C=%[*1*-%[')$?9
KU1
%
58=S%/J/]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2L4% 8=%ZR%3;9%[%38?%=>?%D7C:938P%9?L=78D%7E%I9%8%3;9%Z%7EE?8%
=7%Q3PS%"D%=>?%68?9:=78%3CC7O?9%=7%6>77D?%O>:6>%7EE?8%=7%36V
6?Q=f
%
%
8VD9G%B?DS%`"E%=O7%78%I78?%D7C:938P%9?L=78D%7EE?8%=7%
Q3PR%=>?%68?9:=78%I3P%6>77D?%O>:6>%=7%366?Q=Sa%78#+9%:Q:C=%
Q()%4$(+$(&$=%[*1*-%[')$?9
264%
.HQQ7D?%:;%Q87LC?I%2L4R%3C=>7H<>%8%3;9%Z%>3F?%7EE?8?9%=7%
Q3PR%I%;?F?8=>?C?DD%I3^?D%3%9?I3;9%HQ7;%[=%:D%I%3CC7O?9%
=7%97%D7f
%
%
8VD9G%(F?;%:E%[%>3D%;7=%7EE?8?9%=7%Q3PR%:=%:D%L?C:?F?9%
=>3=%I%O7HC9%L?%3CC7O?9%=7%I3^?%3%9?I3;9%HQ7;%[9%`*>?%
68?9:=78%I3P%Q876??9%3<3:;D=%3;P%7;?%7E%=>?%D7C:938P%9?L=V
78DSa%7:4+%4$(+$(&$=%8#+9%:Q:;=%[*1*-%[')$?S%bH=R%7E%67H8D?R%
:=%O7HC9%L?%3%E77C:D>%68?9:=78%O>7%O7HC9%8?EHD?%=7%366?Q=%
Q3PI?;=%E87I%7;?%O>7%7EE?8D%:=S
294% 8=%Z=%[R%3;9%I%38?%D7C:938P%9?L=78D%7E%E%=7%=>?%3I7H;=%7E%
,/SJ%I:CC:7;S%8%Q3PD%E%=>?%O>7C?%,/SJ%I:CC:7;S%"D%8%?;=:=C?9%
=7%8?:ILH8D?I?;=%E87I%Z=%[R%3;9%If
%
%
8VD9G%B?DR%8?:ILH8D?I?;=%QCHD%:;=?8?D=%E87I%=>?%93=?%
7E%Q3PI?;=S
XFY& K#(940&)+&:%#-%"%(Q&+)4&/0%5-94$050*(
%
%
8=%Z=%[=%3;9%I%38?%D7C:938P%9?L=78D%7E%E%=7%=>?%3I7H;=%7E%
,/SJ%I:CC:7;S%8%Q3:9%E%=>?%O>7C?%3I7H;=%7E%,/SJ%I:CC:7;S%"=%:D%
6C?38%=>3=%8%:D%?;=:=C?9%=7%8?:ILH8D?I?;=%E78%;7O%8%>3D%L?67I?%
=>?%68?9:=78%E78%8?:ILH8D?I?;=S%58?%Z=%[=%3;9%I%67;D:9?8?9%=>?%
D7C:938P%9?L=78D%7E%8f
%
%
8VD9G%-7S%c:=>%8?E?8?;6?%=7%=>?%8?:ILH8D?I?;=%Z=%[=%3;9%
I%38?%;7=%D7C:938P%9?L=78D%7E%8%LH=%I?8?CP%3'*(+%9?L=78D%7E%89%"=%:D%
=8H?%=>3=%Z=%[=%3;9%I=%=7<?=>?8%O:=>%8=%HD?9%=7%L?%D7C:938P%9?L=78D%
7E%E=%LH=%8\4%Q3PI?;=%=7%E%7E%=>?%O>7C?%3I7H;=%>3D%?Z=:;<H:D>?9%
=>3=%D7C:938P%7LC:<3=:7;R%3;9%O>3=%8?I3:;D%;7O%:D%I?8?CP%=>?%
W7:;=%7LC:<3=:7;%7E%8?:ILH8D?I?;=S%5D%3%I3==?8%7E%E36=R%=>?%C3O%
Q87F:9?D% =>3=G% `+?% O>7% I39?% =>?% Q3PI?;=% I3P% 6C3:I% E87I%
>:D%67V9?L=78D%'(-5%=>?%4/,#$%O>:6>%6788?DQ7;9D%=7%?36>R%O:=>%
=>?%:;=?8?D=%E78%Q3PI?;=%3C8?39P%I39?Sa%7:4+%4$(+$(&$=%4$&'()%
!,#,J#,!/=%8#+9%:Q:C=%[*1*-%[')$?9%*>:D%6C?38CP%D>7OD%=>3=%=>?%
KUN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J/]
D7C:938P%7LC:<3=:7;%O>:6>%>3D%L??;%?Z=:;<H:D>?9%>3D%;7O%L??;%
67;F?8=?9%:;=7%3%3'*(+%7LC:<3=:7;%E78%8?:ILH8D?I?;=e%7=>?8O:D?R%
=>?%C3O%O7HC9%;7=%>3F?%Q87F:9?9%=>3=%O>3=%=>?%Q3P:;<%9?L=78D%
63;%8?67F?8%:D%'(-5%=>?%!#'!'#+*'(,+$%D>38?R%O:=>%:;=?8?D=S
%
%
.:;6?%78:<:;3CCP%=>?8?%O?8?%E7H8%9?L=78DR%?36>%>3D%3%Q87Q78V
=:7;3C%D>38?%7E%,KUURUUU%:;%=>?%7LC:<3=:7;S%+?;6?R%8%63;%8?67F?8%
,KUURUUU%O:=>%:;=?8?D=%E87I%?36>%7E%=>?%7=>?8%=>8??S
%
%
"=%D>7HC9%L?%;7=?9R%>7O?F?8R%=>3=%=>?%C:3L:C:=P%:D%('+%=>?%
789:;38P%W7:;=%7;?R%E78%:;%=>?%:;D=3;=%63D?R%=>?%*(4'-1$(&5%7E%7;?%
IHD=%:;%=>?%I?3;=:I?%L?%D>7HC9?8?9%LP%=>?%8?D=S%7O,4+%!,#,A
J#,!/=%8#+9%:Q:C=%[*1*-%[')$?9
&
&
3*'S#9$(%&f&!)2&12&g9")
BF&HS%"2&DPE
&
%
H8[WDG%8=%Z=%[=%I=%E=%3;9%H%O?8?%D7C:938P%9?L=78D%7E%N%
=7%=>?%3I7H;=%7E%,J1KRMM1SMJS%$3=?8%:;%3;%3<8??I?;=%O:=>%Z=%
[=%I=%E=%3;9%HR%=>?%9?L=%O3D%8?9H6?9%LP%N%=7%,JJ1RUUUS%N%DH?9%
89% b?63HD?% 7E% =>?% Q38=:3C% 8?I:DD:7;R% 8% O3D% I39?% =7% Q3P% 7;CP%
,JJ1RUUUS%R44"$G%+7O%IH6>%63;%8%8?67F?8%E87I%=>?%7=>?8%D7C:938P%
9?L=78Df
%
%
`EOIG%8%63;%8?67F?8%=>?%Q87Q78=:7;3C%D>38?D%7E%=>?%7=>?8R%
;7=%O:=>%8?DQ?6=%=7%,J1KRMM1SMJ%LH=%O:=>%8?DQ?6=%=7%,JJ1RUUUR%
=>?%3I7H;=%3D%8?9H6?9S%.:;6?%=>?8?%38?%N%D7C:938P%9?L=78DR%>?%
63;% 8?67F?8% /oN% 7E% ,JJ1RUUU% E87I% ?36>% QCHD% :;=?8?D=% E87I% =>?%
=:I?%7E%Q3PI?;=S
X=Y& N#$%$&)+&(S0&/%.S(&()&-0&/0%5-94$06
&
%
*>?%E36=%7E%Q3PI?;=%23;9%;7=%=>?%78:<:;3C%67;=836=4%:D%=>?%
L3D:D%7E%=>?%8:<>=%=7%L?%8?:ILH8D?9R%E78%;7=%H;=:C%=>?;%>39%>?%
=>?%8:<>=%=7%L?%8?:ILH8D?9S%+?;6?R%=>?%7LC:<3=:7;%7E%=>?%7=>?8D%
=7%8?:ILH8D?%>:I%38:D?D%7;CP%E87I%=>?%=:I?%Q3PI?;=%:D%I39?S%
7M*-4'(%19%Z$#L$(L'++$#=%NX%OA@@C;=%8!#9%QU=%:>BP?9
&
&
Z%"$)*&12&N04T0*T)((04
D?&HS%"2&DCE
&
%
H8[WDG%";%/dK0R%=>8??%Q?8D7;D%8=%Z=%3;9%[%D:<;?9%3D%D7C:V
938P%9?L=78D%3%Q87I:DD78P%;7=?%:;%E3F78%7E%=>?%!>38=?8?9%b3;^%
KU]
%
58=S%/J/]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
7E%";9:3%:;%=>?%3I7H;=%7E%,dURUUUS%";%/dMMR%9H8:;<%=>?%g3Q3;?D?%
766HQ3=:7;R%Z%Q3:9%=>?%O>7C?%3I7H;=%:;%g3Q3;?D?%;7=?DS%";%/d1U%
23E=?8%C:L?83=:7;4R%8%7EE?8?9%=7%Q3P%Z%>:D%78\4?%D>38?%:;%=>?%7LC:<3V
=:7;S%*>?%:DDH?%:D%O>?=>?8%,KURUUU%78%7;CP%,NUU%2=>?%?XH:F3C?;=%
7E% ,KURUUU% H;9?8% =>?% b3CC3;=P;?% D63C?4% IHD=% L?% 8?:ILH8D?9R%
67;D:9?8:;<% =>3=% Q3PI?;=% LP% Z% =7% =>?% L3;^% O3D% :;% g3Q3;?D?%
I7;?PS
%
%
`EOIG%"=%>3D%L??;%>?C9%:;%D?F?83C%63D?D%=>3=%3%9?L=%67;V
=836=?9%9H8:;<%=>?%g3Q3;?D?%766HQ3=:7;R%3;9%Q3P3LC?%7;%9?I3;9%
78%9H8:;<%=>?%766HQ3=:7;%2LH=%;7=%3E=?8%=>?%O38%78%3=%3%DQ?6:!%?9%
93=?%=>?8?3E=?8%3D%=7%:;9:63=?%=>3=%=>?%Q38=:?D%O?8?%DQ?6HC3=:;<%
7;%=>?%?;9:;<%78%67;=:;H3=:7;%7E%=>?%O384%O7HC9%L?%Q3:9%H;9?8%
=>?% b3CC3;=P;?% D63C?S% ";% =>:D% 63D?R% =>?8?E78?R% O?% >3F?% =7% !%;9%
7H=%./$(%=>?%7LC:<3=:7;%7E%8%=7%Z%O3D%68?3=?9R%O>?=>?8%:=%O3D%
L?E78?%=>?%O38%78%9H8:;<%=>?%O38S%"E%9H8:;<%=>?%O38R%=>?;%=>?%
b3CC3;=P;?%D63C?%D>7HC9%L?%DHE!%6:?;=S%5;9%7H8%9?6:D:7;%:D%=>3=%
:;%=>:D%63D?R%=>?%7LC:<3=:7;%=7%8?:ILH8D?%O3D%I39?%7;CP%9H8:;<%
=>?%O38%D:;6?%L?E78?%Q3PI?;=%LP%Z=%8%O3D%;7=%P?=%Z\4%9?L=78S%
+?;6?R%=>?%6788?6=%DHI%:D%,NUUS
X<Y& G9-$(%(9(%)*&)+&H#4(%0$
%
%
8=%Z=%3;9%[%38?%D7C:938P%9?L=78D%7E%^%O>7%DH?9%3CC%7E%=>?IS%
"E%9H8:;<%=>?%Q?;9?;6P%7E%=>?%63D?R%8%Q3PD%^=%:;%=>?%D3I?%36=:7;%
8%63;%L?%6>3;<?9%E87I%9?E?;93;=%=7%QC3:;=:EE%:;%DHLD=:=H=:7;%7E%
^S%*>:D%:D%=7%?;3LC?%8%=7%67CC?6=%8?:ILH8D?I?;=%7E%67;=8:LH=:7;%
E87I%Z%3;9%[9%7D$$%Z,(L%'2%+/$%K/*-9%R4-,()4%19%T&['5=%BQ%K/*-9%
<P:?9
XPY& N7/&
&
%
8=%Z=%3;9%[%?Z?6H=?9%W7:;=CP%3;9%D?F?83CCP%3%Q87I:DD78P%
;7=?%E78%,KUURUUU%:;%E3F78%7E%I%Q3P3LC?%3E=?8%N%I7;=>DS%iQ7;%
I3=H8:=PR%8%3;9!Z%8?EHD?9%=7%Q3PS%"D%I%?;=:=C?9%=7%8?67F?8%E87I%
[%=>?%,KUURUUUf%";%63D?%7E%Q3PI?;=%LP%[=%O>3=%8:<>=R%:E%3;PR%>3D%
>?%3<3:;D=%8%3;9%Zf
%
%
8VD9G%B?DR%I%63;%<?=%=>?%O>7C?%,KUURUUU%E87I%[=%L?63HD?%
[%L7H;9%>:ID?CE%*(%4'-*)"0S%"E%[%Q3PD%=>?%O>7C?%3I7H;=R%Z%3;9%
8%O:CC%?36>%L?%C:3LC?%=7%>:I%E78%,/UURUUUS%7D$$%8#+49%:Q:;%,()%
:Q:C=%[*1*-%[')$?9
KU0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J/0
XEY& H/,N:JV
%
%
8% 3;9% Z% O?8?% DH?9% 7;% 3% Q87I:DD78P% ;7=?% O>:6>% 8?39% 3D%
E7CC7ODG%`A3;:C3R%A3P%/R%JUUMS%)78%F3CH?%8?6?:F?9R%O?R%=>?%H;V
9?8D:<;?9R%Q87I:D?%D7C:938:CP%=7%Q3P%[%78%>:D%789?8R%7;%78%L?E78?%
A3P%/R%JUU1R%=>?%DHI%7E%,/RUUURUUUR%QCHD%3;%:;=?8?D=%7E%Nk%2.<9S4%
8%3;9%Z9a%.>7HC9%Z%=H8;%7H=%=7%L?%:;D7CF?;=R%I3P%[%8?67F?8%3CC%
>:D%6C3:I%E87I%8%O>7%:D%D7CF?;=f%c>Pf
%
%
8VD9G%B?DR%L?63HD?%8%>39%L7H;9%>:ID?CE%D7C:938:CPR%O:=>7H=%
Q8?WH9:6?R%7E%67H8D?R%=7%>:D%8?67F?8:;<%C3=?8%7;%E87I%Z=%=>?%D>38?%
7E%Z%:;%=>?%9?L=R%QCHD%:;=?8?D=%E87I%=>?%93=?%7E%Q3PI?;=S%78#+9%
:Q:C=%[*1*-%[')$?9
XDY& 7K,M\J/&H/,N:JV
&
%
8=%Z=%3;9%[%38?%W7:;=%3;9%D?F?83C%9?L=78D%7E%I9%I%3CC7OD%[%
3;%?Z=?;D:7;%7E%=O7%P?38D%O:=>:;%O>:6>%=7%Q3P%/*4%!'#+*'(%7E%=>?%
:;9?L=?9;?DDS%iQ7;%L?:;<%DH?9%LP%I=%I3P%8%3;9%Z%:;=?8Q7D?%=>?%
9?E?;D?%7E%=>?%?Z=?;D:7;%7E%=>?%=:I?%<83;=?9%=7%[f%.>7HC9%8%3;9%
Z%?F?;=H3CCP%Q3P%=>?%?;=:8?%7LC:<3=:7;R%I3P%=>?P%67IQ?C%[%=7%
8?:ILH8D?%=>?I%O:=>%>:D%D>38?%.*+/'"+%.,*+*(J%E78%=>?%=O7VP?38%
?Z=?;D:7;%<83;=?9%=7%If%@?3D7;DS
%
%
8VD9G%B?DR%8%3;9%Z%63;%D?=%HQ%=>?%?Z=?;D:7;%LH=%7;CP%3D%
Q38=:3C%9?E?;D?R%C:I:=?9%=7%[\4%D>38?S%+?;6?R%=>?P%D>7HC9%;7O%
Q3P%5$$%I:;HD%[\4%D>38?S%7D$$%R(&/,"4+*%19%f"-'=%P@%K/*-9%>C<?9%
"E%=>?P%Q3:9%5$$%2O:=>7H=%9?9H6=:7;D4%=>?P%0"4+%.,*+%E78%=>?%
JVP?38%Q?8:79%L?E78?%=>?P%63;%67IQ?C%8?:ILH8D?I?;=%E87I%[9%
*>:D%:D%L?63HD?%8%3;9%Z%I?8?CP%D=?QQ?9%:;=7%=>?%D>7?D%7E%=>?%
68?9:=78%I=%3;9%=>?8?E78?%[%63;%QC?39%3<3:;D=%=>?I%=>?%9?E?;D?%
7E%?Z=?;D:7;%7E%Q3PI?;=S
&
74(2&C?CE2&H#Q50*(&-Q&#&$)"%6#4Q&60-()4&$S#""&*)(&0*(%("0&
S%5&()&40%5-94$050*(&+4)5&S%$&');60-()4$&%+&$9'S&8#Q50*(&%$&
5#60&#+(04&(S0&)-"%.#(%)*&S#$&840$'4%-06&)4&-0')50&%""0.#"2
!,VVJKMW
XCY& J++0'(&)+&H#Q50*(&)+&H40$'4%-06&L0-(
%%
%
8% 3;9% Z% 38?% D7C:938P% 9?L=78D% 7E% [% =7% =>?% 3I7H;=% 7E%
,/RUUURUUUS
KUd
%
58=S%/J/d
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
*>?%9?L=%Q8?D68:L?9S%bH=%8%1'-"(+,#*-5%Q3:9%[=%;?F?8=>?V
C?DDR%L?63HD?%8%E?C=%I783CCP%7LC:<?9%=7%D7%Q3PS
234% A3P%8%8?67F?8%E87I%[%O>3=%>?%>3D%Q3:9f
2L4% A3P%8%<?=%3;P%8?:ILH8D?I?;=%E87I%Zf
%
8VD9G
234% 8%63;;7=%8?67F?8%E87I%[%O>3=%>?%>3D%Q3:9%L?63HD?%:=%O3D%
F7CH;=38:CP%<:F?;%3E=?8%8%^;?O%7E%=>?%Q8?D68:Q=:7;%7E%=>?%
9?L=S%*>?%C3O%D3PDR%`O>?;%3%8:<>=%=7%DH?%HQ7;%3%6:F:C%7LV
C:<3=:7;%>3D%C3QD?9%LP%?Z=:;6=:F?%Q8?D68:Q=:7;R%=>?%7LC:<78%
63;;7=%8?67F?8%O>3=%>?%>3D%9?C:F?8?9%78%=>?%F3CH?%7E%=>?%
D?8F:6?%>?%>3D%8?;9?8?9S__%78#+9%:@Q@=%[*1*-%[')$?9%7VSWEG%
"E%Q3PI?;=%>39%L??;%I39?%LP%8%=7%[=%O:=>7H=%8%^;7O:;<%
=>3=%=>?%9?L=%>39%Q8?D68:L?9R%8%63;%8?67F?8%E87I%[%7;%=>?%
L3D:D%7E%4'-"+*'%*()$6*+*9?
2L4% 8%63;;7=%<?=%3;P%8?:ILH8D?I?;=%E87I%Z%L?63HD?%8%Q3:9%=>?%
9?L=%3E=?8%:=%>39%Q8?D68:L?9S%*>?%C3O%D3PDR%`,3PI?;=%LP%3%
D7C:938P%9?L=78%D>3CC%;7=%?;=:=C?%>:I%=7%8?:ILH8D?I?;=%E87I%
>:D%67V9?L=78D%:E%DH6>%Q3PI?;=%:D%I39?%3E=?8%=>?%7LC:<3=:7;%
>3D%Q8?D68:L?9%78%L?67I?%:CC?<3CSa%78#+9%:Q:<=%[*1*-%[')$?9
X?Y& J++0'(&)+&H#Q50*(&)+&#*&3""0.#"&,-"%.#(%)*
%
%
8%3;9%Z%38?%D7C:938:CP%L7H;9%=7%<:F?%[%D7I?%98H<D%O78=>%
,/RUUURUUUS% $3=?8R% =>?% C3O% Q87>:L:=D% =>?% =83;D36=:7;% 7E% D3:9%
98H<DR% 3;9% 9?6C38?D% =>?% 98H<D% =7% L?% 7H=D:9?% =>?% 67II?86?% 7E%
I3;S%p;7O:;<%=>:DR%8%;?F?8=>?C?DD%9?C:F?8D%=>?%98H<D%=7%[9%A3P%
8%;7O%<?=%8?:ILH8D?I?;=%E87I%Zf
%
%
8VD9G%-7R%8%63;;7=%<?=%3;P%8?:ILH8D?I?;=%E87I%Z%L?63HD?%
8%I39?%=>?%Q3PI?;=%3E=?8%=>?%7LC:<3=:7;%>39%L?67I?%:CC?<3CS
&
74(2&C?CD2&MS0&405%$$%)*&5#60&-Q&(S0&'406%()4&)+&(S0&$S#40&
RS%'S&#++0'($&)*0&)+&(S0&$)"%6#4Q&60-()4$&6)0$&*)(&40"0#$0&(S0&
"#((04&+4)5&S%$&40$8)*$%-%"%(Q&()R#46$&(S0&');60-()4$@&%*&'#$0&
(S0&60-(&S#6&-00*&()(#""Q&8#%6&-Q&#*Q)*0&)+&(S05&-0+)40&(S0&
405%$$%)*&R#$&0++0'(062&
K/U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J/d
!,VVJKMW
XCY& J++0'(&)+&/05%$$%)*&V#60&7+(04&M)(#"&H#Q50*(&\#6&7";
40#6Q&J`(%*.9%$S06&(S0&,-"%.#(%)*
&
%
*>:D%58=:6C?%:D%9?D:<;?9%=7%Q8?F?;=%E83H9%3;9%=7%<:F?%WHD=:6?%
=7%=>?%Q3P:;<%9?L=78S%7D$$%<%T,(#$4,%QQ;?9%EF,0!-$G%8%3;9%Z%
D7C:938:CP%7O?%^%,/RUUURUUUS%8%Q3:9%^%=>?%O>7C?%3I7H;=S%$3=?8R%
^% 8?I:==?9% Z\4% D>38?S% !3;% 8% D=:CC% 8?67F?8% 8?:ILH8D?I?;=% 7E%
,1UURUUU%E87I%Zf
%
%
8VD9G%B?DS
X?Y& /0#$)*&+)4&(S0&H4)1%$%)*
&
%
.:;6?%Q3PI?;=%?Z=:;<H:D>?D%=>?%7LC:<3=:7;R%=>?8?%:D%;7=>:;<%
I78?%=7%8?I:=S%7D$$%['00$(+4%"()$#%8#+9%:Q:B=%[*1*-%[')$?9
XBY& H4)-"05$
234% 8=% Z=% 3;9% [% D7C:938:CP% 7O?% ^% ,K% I:CC:7;9% ^% #$0*++$)% [\4%
D>38?S%8=%=>?8?E78?R%Q3:9%C3=?8%7;CP%,J%I:CC:7;S%!3;%8%8?V
67F?8%8?:ILH8D?I?;=f
%
%
8VD9G%B?DR%LH=%7;CP%E87I%Z%3;9%;7=%E87I%[=%O>7D?%
D>38?%>39%Q8?F:7HDCP%L??;%8?I:==?9S%+?8?R%8?I:DD:7;%O3D%
Q8?F:7HD%=7%=>?%Q3PI?;=S
2L4% ";%Q87LC?I%234R%>7O%IH6>%63;%8%8?67F?8%E87I%Z%3;9%[f
%
8VD9G%)87I%Z=%,/%I:CC:7;%O:=>%:;=?8?D=S%)87I%[=%;7=>:;<R%
L?63HD?%[\4%D>38?%>39%L??;%8?I:==?9S
264%
";%Q87LC?I%2L4R%DHQQ7D?%Z%:D%:;D7CF?;=R%63;%[%L?%I39?%C:3LC?%
:;%=>?%I?3;=:I?%E78%Q38=%7E%=>?%:;D7CF?;6Pf%";%7=>?8%O789DR%
63;%8%<?=%3;P=>:;<%E87I%[=%O>7D?%D>38?%=>?%68?9:=78%>39%
8?I:==?9f
%
%
8VD9G%B?DR%L?63HD?%H;9?8%58=S%/J/]R%`O>?;%7;?%7E%=>?%
D7C:938P%9?L=78D%63;;7=R%L?63HD?%7E%>:D%*(4'-1$(&5R%8?:IV
LH8D?%>:D%D>38?%=7%=>?%9?L=78%Q3P:;<%=>?%7LC:<3=:7;R%DH6>%
D>38?% IHD=% L?% L78;?% LP% 3CC% >:D% 67V9?L=78D% :;% Q87Q78=:7;%
=7%=>?%9?L=%7E%?36>Sa%";%7=>?8%O789DR%?F?;%:E%[\4%D>38?%>3D%
L??;%8?I:==?9%23;9%?F?;%:E%>?%=>?8?E78?%97?D%;7=%>3F?%=7%
8?:ILH8D?%E78%>:D%'.(%D>38?4%>?%O:CC%D=:CC%>3F?%=7%L?38%Q38=%
K//
%
58=DS%/JJUV/JJ/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
7E%=>?%LH89?;%7E%Z\4%:;D7CF?;6PR%L?63HD?%=>?%68?9:=78_D%36=%
7E%C:L?83C:=P%=7O389D%>:I%63;;7=%?Z6HD?%>:I%E87I%EHC!%CC:;<%
>:D%C?<3C%9H=P%H;9?8%=>?%Q87F:D:7;%>?8?:;3L7F?%I?;=:7;?9S%
*>HDR%Z\4%D>38?%7E%,/%I:CC:7;%O:CC%L?%L78;?%:;%=>?%I?3;=:I?%
LP%8%3;9%[=%3;9%[%O:CC%>3F?%=7%<:F?%,1UURUUU%=7%8S%$3=?8R%[%
63;%8?67F?8%E87I%ZR%D>7HC9%=>?%C3==?8_D%!%;3;6?D%:IQ87F?S
&
74(2&C??>2&MS0&405%$$%)*&)+&(S0&RS)"0&)-"%.#(%)*@&)-(#%*06&
-Q&)*0&)+&(S0&$)"%6#4Q&60-()4$@&6)0$&*)(&0*(%("0&S%5&()&40%5;
-94$050*(&+4)5&S%$&');60-()4$2
!,VVJKMW
XCY& /05%$$%)*&)+&(S0&ZS)"0&,-"%.#(%)*
&
%
*>:D%58=:6C?%:D%3%;?O%Q87F:D:7;%7E%=>?%!:F:C%!79?S%@?I:DD:7;R%
:=%IHD=%L?%L78;?%:;%I:;9R%:D%?DD?;=:3CCP%<83=H:=7HDS%-7=?%=>3=%=>:D%
58=:6C?%3QQC:?D%7;CP%O>?;%=>?%O>7C?%7LC:<3=:7;%:D%8?I:==?9S
X?Y& J`#58"0
&
%
8% 3;9% Z% 38?% D7C:938P% 9?L=78D% 7E% [% =7% =>?% 3I7H;=% 7E%
,/RUUURUUUS%[%8?I:==?9%=>?%O>7C?%7LC:<3=:7;%O>?;%8%7EE?8?9%=7%
Q3PS%8%>?8?%63;;7=%<?=%3;P%8?:ILH8D?I?;=%E87I%Z%D:;6?%3E=?8%
3CCR%8%9:9%;7=%Q3P%3;P=>:;<%=7%[9%*7%3CC7O%=>?%67;=838P%O7HC9%L?%
=7%:;9H6?%E83H9%3;9%=7%67H;=?;3;6?%Q38=:3C:=PS
&
74(2&C??C2&3+&(S0&(S%*.&S#$&-00*&")$(&)4&%+&(S0&840$(#(%)*&S#$&
-0')50&%58)$$%-"0&R%(S)9(&(S0&+#9"(&)+&(S0&$)"%6#4Q&60-()4$@&
(S0&)-"%.#(%)*&$S#""&-0&0`(%*.9%$S062
&
3+&(S040&R#$&+#9"(&)*&(S0&8#4(&)+&#*Q&)*0&)+&(S05@&#""&$S#""&
-0&40$8)*$%-"0&()&(S0&'406%()4&+)4&(S0&84%'0&#*6&(S0&8#Q50*(&
)+& 6#5#.0$& #*6& %*(040$(@& R%(S)9(& 840U96%'0& ()& (S0%4& #'(%)*&
#.#%*$(&(S0&.9%"(Q&)4&*0."%.0*(&60-()42
&
3+& (S4)9.S& #& +)4(9%()9$& 010*(@& (S0& (S%*.& %$& ")$(& )4& (S0&
804+)45#*'0&S#$&-0')50&%58)$$%-"0&#+(04&)*0&)+&(S0&$)"%6#4Q&
60-()4$&S#$&%*'94406&%*&60"#Q&(S4)9.S&(S0&U96%'%#"&)4&0`(4#;
U96%'%#"&605#*6&98)*&S%5&-Q&(S0&'406%()4@&(S0&84)1%$%)*$&)+&
(S0&840'06%*.&8#4#.4#8S&$S#""&#88"Q2
K/J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJ/
!,VVJKMW
XCY& J++0'(&)+&:)$$&)4&358)$$%-%"%(Q
234% "E%O:=>7H=%E3HC=%Y%;7%C:3L:C:=PS
2L4% "E% O:=>% E3HC=% Y% =>?8?% :D% C:3L:C:=P% 23CD7% E78% 93I3<?D% 3;9%
:;=?8?D=4S
264%
$7DD%L?63HD?%7E%3%E78=H:=7HD%?F?;=%5)*(@%9?E3HC=%Y%>?8?R%
=>?8?%O:CC%L?%C:3L:C:=P%L?63HD?%7E%=>?%'()5i$*S
X?Y& H4)-"05$
234% 8% 3;9% Z% 38?% D7C:938:CP% 7LC:<?9% =7% <:F?% [% =>:D% Q38=:6HC38%
638S%*>?%638%O3D%C7D=%LP%3%E78=H:=7HD%?F?;=R%3;9%O:=>7H=%
3;P%E3HC=%7;%=>?%Q38=%7E%=>?%9?L=78DS%c>3=%>3QQ?;D%=7%=>?%
7LC:<3=:7;f
%
%
8VD9G%*>?%7LC:<3=:7;%:D%?Z=:;<H:D>?9S%"=%:D%?DD?;=:3C%
>?8?R%>7O?F?8R%=>3=%=>?%9?L=78D%L?%;7=%<H:C=P%7E%9?E3HC=S
2L4% "E%:;%Q87LC?I%234R%=>?%638%O3D%C7D=%=>87H<>%=>?%E3HC=%7E%8=%
3;9%[%I3^?D%3%9?I3;9%C3=?8%HQ7;%Z=%D>7HC9%Z%L?%C:3LC?%
E78%=>?%Q8:6?%7E%=>?%638%3D%O?CC%3D%93I3<?D%78%:;=?8?D=f
%
%
8VD9G%B?DR%Z%O:CC%D=:CC%L?%C:3LC?%?F?;%:E%>?%O3D%;7=%3=%
E3HC=%3=%3CCS%@?I?IL?8%=>3=%3%D7C:938P%7LC:<3=:7;%:IQC:?D%
IH=H3C%3<?;6P%3;9%IH=H3C%67;!%9?;6?S%*>?%C3O%?ZQ8?DDCP%
I3^?D% Z% C:3LC?% :;% DH6>% 3% 63D?% L7=>% E78% =>?% Q8:6?% 7E% =>?%
638% 3D% O?CC% 3D% 93I3<?D% 78% :;=?8?D=DR% LH=% Z% 63;% C3=?8% 7;%
8?67F?8%E87I%8%=>?%O>7C?%7E%O>3=%>?%Q3:9R%E78%>39%8%;7=%
L??;%3=%E3HC=R%=>?%7LC:<3=:7;%O7HC9%>3F?%L??;%3C8?39P%?ZV
=:;<H:D>?9S
264%
8=%Z=%3;9%[%38?%D7C:938P%9?L=78D%7E%I%:;%3;%7LC:<3=:7;%=7%
<:F?% 3% Q38=:6HC38% 638S% I% I3^?D% 3;% ?Z=83WH9:6:3C% 9?I3;9%
HQ7;%89%5E=?8%=>?%9?I3;9R%=>?%638%O3D%C7D=%LP%3%E78=H:=7HD%
?F?;=S%"D%=>?%7LC:<3=:7;%?Z=:;<H:D>?9f%"E%;7=R%O>3=%:D%I\4%
8:<>=f
%
%
8VD9G%*>?%7LC:<3=:7;%:D%;7=%?Z=:;<H:D>?9%L?63HD?%=>?%
C7DD%=>87H<>%3%E78=H:=7HD%?F?;=%766H88?9%3E=?8%9?E3HC=%7;%
=>?%Q38=%7E%=>?%9?L=78D%>39%38:D?;S%I\4%8:<>=%:D%=7%?Z36=%=>?%
Q8:6?%7E%=>?%638%E87I%3;P%7E%=>?IS%*>?%9?L=78DR%>7O?F?8R%
O>7%9:9%;7=%>3F?%3%>3;9%:;%=>?%9?E3HC=%7Z%3;9%[4%>3F?%=>?%
K/K
%
58=S%/JJJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
8:<>=%=7%8?67F?8%E87I%=>?:8%67V9?L=78R%8=%O>7%3E=?8%3CCR%O3D%
8?DQ7;D:LC?%9H?%=7%>:D%9?E3HC=S
&
74(2&C???2&7&$)"%6#4Q&60-()4&5#Q@&%*&#'(%)*$&!&"06&-Q&(S0&
'406%()4@&#1#%"&S%5$0"+&)+&#""&60+0*$0$&RS%'S&#40&604%106&+4)5&
(S0&*#(940&)+&(S0&)-"%.#(%)*&#*6&)+&(S)$0&RS%'S&#40&804$)*#"&()&
S%5@&)4&804(#%*&()&S%$&)R*&$S#402&Z%(S&40$80'(&()&(S)$0&RS%'S&
804$)*#""Q&-0")*.&()&(S0&)(S04$@&S0&5#Q&#1#%"&S%5$0"+&(S040)+&
)*"Q&#$&40.#46$&(S#(&8#4(&)+&(S0&60-(&+)4&RS%'S&(S0&"#((04&#40&
40$8)*$%-"02&
!,VVJKMW
XCY& L0+0*$0$&%*&7'(%)*$&b%"06
%
%
*>:D%58=:6C?%3QQC:?D%:;%5!*"&-.%!%C?9%LP%=>?%68?9:=78S
X?Y& k%*6$&)+&L0+0*$0$
234% *>7D?%9?8:F?9%E87I%=>?%(,+"#$%7E%=>?%7LC:<3=:7;%2=>:D%:D%3%
&'0!-$+$%9?E?;D?4S
%
EF,0!-$4G
/4%
C36^%7E%67;D:9?83=:7;%78%63HD?
J4%
3LD7CH=?%D:IHC3=:7;%23D%O>?;%=>?%67;=836=%:D%=7=3CCP%
!%6=:=:7HD4
K4%
:CC?<3C%67;D:9?83=:7;
M4%
?Z=:;<H:D>I?;=%7E%=>?%7LC:<3=:7;%23D%O>?;%=>?%O>7C?%
9?L=%>3D%L??;%!,*)=%#$0*++$)=%78%>3D%!#$4&#*6$)4
14%
;7;VEHC!%CCI?;=%7E%=>?%DHDQ?;D:F?%67;9:=:7;%2:E%I39?%
HQ7;%=>?%O>7C?%7LW?6=%78%HQ7;%,--%=>?%9?L=78D4
N4%
.=3=H=?%7E%)83H9D
]4%
O>?;%5$$%=>?%9?L=78D%O?8?%:;63Q36:=3=?9%=7%<:F?%67;V
D?;=%2DH6>%3D%H;?I3;6:Q3=?9%I:;78DR%:;D3;?R%:9:7=DR%
Q?8D7;D%H;9?8%3%>PQ;7=:6%DQ?CC4
04%
O>?;%=>?8?%38?%#"!(.%&)%!&-.(-*%2F:=:3=?9%67;V
D?;=4%7;%=>?%Q38=%7E%5$$%=>?%9?L=78D%2DH6>%3D%O>?;%
,--%O?8?%E786?9%78%:;=:I:93=?9%78%H;9HCP%:;"%H?;6?9%
78%O?8?%C?9%:;=7%?88784
K/M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJJ
2L4% *>7D?%!$#4'(,-%=7%=>?%9?L=78%DH?9S%2*>:D%:D%3%&'0!-$+$%9?V
E?;D?%J$($#,--5R%LH=%:E%=>?%9?E?;D?%:D%;7;VEHC!%CCI?;=%P?=%7E%
3%&'()*+*'(%78%=>?%;7;V388:F3C%P?=%7E%=>?%=?8IR%=>:D%:D%7;CP%
3%,5@*"5$%9?E?;D?R%=>3=%:DR%>?%O:CC%D=:CC%L?%C:3LC?%?Z6?Q=%
E78%>:D%7O;%D>38?%:;%=>?%I?3;=:I?4S%7D$$%R(&/,"4+*%19%f"-'=%
P@%K/*-9%><C?9
%
264%
EF,0!-$4G
/4%
#:=:3=?9%67;D?;=%23D%O>?;%>?%O3D%2'#&$)=%$+&S4%Y%!&AV
,$(*(%9?E?;D?S
J4%
";63Q36:=P% =7% <:F?% 67;D?;=% 23D% O>?;% >?% :D% 3% 0*('#4%
Y%!&A,$(*(%9?E?;D?S
K4%
-7;VEHC!%CCI?;=% 7E% 67;9:=:7;% :IQ7D?9% 8?<389:;<% >:D%
D>38?% 2,5@*"5$% 9?E?;D?R% H;C?DD% Q87F:9?9% 7=>?8V
O:D?4S
M4%
-7;V388:F3C%7E%=?8I%28?<389:;<%>:D%D>38?%Y%,5@*"5$%
9?E?;D?%Y%H;C?DD%Q87F:9?9%7=>?8O:D?4S
*>7D?% Q?8D7;3C% =7% =>?% '+/$#4% Y% 4,0$% ,4% 76?% ]% 7K,#+*,-%
9?E?;D?%8?<389:;<%D>38?%7E%7=>?8D%:;F7CF?94S
XBY& J`#58"0$
234% 8=%Z=%3;9%[%38?%D7C:938:CP%:;9?L=?9%=7%^%E78%=>?%D?CC:;<%7E%
D>3LH%78%=>?%D3C?%7E%Q87Q?8=P%7E%QHLC:6%97I:;:7;S%"E%8=%Z=%
78%[%:D%DH?9R%;7;?%63;%L?%>?C9%C:3LC?S%*>:D%:D%3%67IQC?=?%
9?E?;D?S
2L4% 8=%Z=%3;9%[%38?%D7C:938:CP%:;9?L=?9%=7%^%E78%,K%I:CC:7;%LH=%
8\4%67;D?;=%>39%L??;%7L=3:;?9%LP%:;=:I:93=:7;S
/4%
"E%^%DH?D%8R%>7O%IH6>%O:CC%8%L?%C:3LC?%E78f
%
%
8VD9G%-7=>:;<R%E78%3D%=7%>:IR%=>:D%:D%3%&'0!-$+$%
)$2$(4$S%5E=?8%3CCR%>?%O7HC9%;7=%>3F?%L??;%:;F7CF?9%
3=%3CCR%>39%=>?8?%L??;%;7%:;=:I:93=:7;S
J4%
"E%^%DH?D%Z=%>7O%IH6>%O:CC%Z%L?%C:3LC?%E78f
%
%
8VD9G% )78% =>?% O>7C?% ,K% I:CC:7;% A"-i.% 8\4%
D>38?%2,/%I:CC:7;4%:E%Z%QH=D%HQ%8\4%F:=:3=?9%67;D?;=%
3D%3%9?E?;D?S%+3F:;<%7;CP%3%,5@*"5$%9?E?;D?R%Z%63;%
D=:CC%L?%>?C9%C:3LC?%E78%,J%I:CC:7;S
K/1
%
58=S%/JJJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
H/,N:JV
&
%
&;%gH;S%/1R%JUU1R%^=%f=%3;9%o%?Z?6H=?9%3%Q87I:DD78P%;7=?%
Q87I:D:;<%=7%Q3P%Z%=>?%DHI%7E%,KRUUURUUU%W7:;=CP%3;9%D?F?83CCP%
O:=>%:;=?8?D=%7E%/Uk%!$#%,(("0%O:=>:;%N%I7;=>DS%";%3;%36=:7;%
LP%Z%3<3:;D=%^%E78%;7;Q3PI?;=%7E%=>?%;7=?R%^%:;=?8Q7D?9%=>?%
9?E?;D?D%2/4%=>3=%f%O3D%3%I:;78%O>?;%=>?%;7=?%O3D%?Z?6H=?9R%
3;9%2J4%=>3=%Z%>39%<:F?;%3;%?Z=?;D:7;%7E%7;?%P?38%=7%oS%c>3=%
38?%=>?%?EE?6=D%7E%=>?D?%9?E?;D?Df
%
%
8VD9G%Z%63;%8?67F?8%,/RUUURUUU%L?63HD?%f\4%I:;78:=P%:D%3%
Q38=:3C%9?E?;D?%E78%^%2E78%f\4%D>38?%7E%,/RUUURUUU4S%*>?%?Z=?;D:7;%
=7%o%:D%3CD7%3%!,#+*,-%9?E?;D?%E78%^%2E78%o\4%D>38?%7E%,/RUUURUUU4S%
78#+9%:QQQh%4$$%R(&/,"4+*%19%f"-'=%P@%K/*-9%>C<?9
&
&
N4#.#*a#&12&e%""#&7-4%""0
:;C?FPC@&7842&CB@&CD=P
&
%
H8[WDG%&;%&6=S%JUR%/dMMR%@7D38:7%9?%b83<3;T3%3;9%>?8%=O7%
I:;78%D7;D%2/0%3;9%/N%P?38D%7E%3<?4%L7887O?9%E87I%#:CC3%5L8:CC?%
,]URUUU%:;%g3Q3;?D?%I7;?PR%Q87I:D:;<%=7%Q3P%4'-*),#*-5%,/URUUU%
:;%C?<3C%6H88?;6P%7E%=>?%,>:C:QQ:;?D%J%P?38D%3E=?8%=>?%O38S%*>?%
I7;?P%O3D%HD?9%E78%=>?%DHQQ78=%7E%=>?%6>:C98?;S%)78%E3:CH8?%=7%
Q3PR%#:CC3%5L8:CC?%DH?9%:;%A386>%/dMdS%*>?%I7=>?8%3;9%=>?%=O7%
D7;D%QC?39?9%:;%9?E?;D?%=>?%0*('#*+5%7E%=>?%=O7%6>:C98?;%3=%=>?%
=:I?%=>?%67;=836=%O3D%?;=?8?9%:;=7S
%
%
`EOIG
/4%
*>?%I7=>?8%:D%C:3LC?%E78%/oK%7E%=>?%,/URUUUS%X$,4'(G%*>?%
I:;78:=P%7E%>?8%6>:C98?;%9:9%;7=%67IQC?=?CP%8?C?3D?%>?8%E87I%
C:3L:C:=PR%D:;6?%I:;78:=P%:D%3%!$#4'(,-%9?E?;D?%7E%=>?%I:;78DS%
.>?%63;%3F3:C%>?8D?CE%7E%D3:9%9?E?;D?%7;CP%3D%8?<389D%=>3=%
Q38=%7E%=>?%9?L=%E78%O>:6>%=>?%I:;78D%38?%C:3LC?S
J4%
*>?%67;=836=%?;=?8?9%:;=7%LP%=>?%I:;78D%:D%1'*),6-$R%LH=%
D:;6?% :=% 63;;7=% L?% 9?;:?9% =>3=% =>?P% >39% Q87!%=?9% LP% =>?%
I7;?P%=>?P%8?6?:F?9%2E78%=>?:8%DHQQ78=4R%:=%:D%E3:8%=7%>7C9%
=>?I%C:3LC?%=7%=>?%$F+$(+%7E%D3:9%L?;?!%=%267IQH=?9%:;%36V
67893;6?%O:=>%=>?%b3CC3;=P;?%D63C?4S
K/N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJJ
&
&
&
,9#*)&744#$(40&G041%'0@&3*'2&12
7"0)*)4@&0(&#"2
O/&DP<<F@&,'(2&C>@&CDDC
%
%
H8[WDG% ";=?8;3=:7;3C% ,>38I36?H=:63CDR% ";6S% 2","4% DH?9%
=>?%A?863;=:C?%";DH83;6?%!7IQ3;P%3;9%&H3;7%5883D=8?%.?8FV
:6?R%";6SR%E78%8?QC36?I?;=%7E%6?8=3:;%?XH:QI?;=%:IQ78=?9%LP%","%
O>:6>% O?8?% :;DH8?9% LP% A?863;=:C?% LH=% O?8?% C7D=% 7;% 388:F3CR%
3CC?<?9CP% L?63HD?% 7E% I:D>3;9C:;<% LP% &H3;7S% &H3;7_D% 3;DO?8%
O3D%!%C?9%LP%=>?%C3O%!%8I%7E%$?9?DI3R%$+%,-9%3;9%D:<;?9%LP%5==PS%
A3;H?C%*8:;:939%7E%=>?%!?LH%L83;6>%7E%=>?%C3O%7E!%6?S%+7O?F?8R%
5==PS%*8:;:939%C3=?8%8?D:<;?9%E87I%=>?%C3O%!%8I%3;9%5==PS%):9?C%
A3;3C7R%3%Q38=;?8%E87I%=>?%A3^3=:%&E!%6?%!%C?9%3%I7=:7;%=7%Q7D=V
Q7;?%=>?%>?38:;<R%D=3=:;<%=>3=%=>?%63D?%>39%WHD=%L??;%?;978D?9%
=7%>:I%LP%&H3;7S
%
%
&;%g3;S%/JR%/ddUR%3E=?8%=>?%=8:3C%O>:6>%5==PS%A3;3C7%>3;V
9C?9%E78%&H3;7R%=>?%=8:3C%67H8=%>?C9%A?863;=:C?%3;9%&H3;7%W7:;=CP%
3;9%D?F?83CCP%C:3LC?%E78%=>?%67D=%7E%8?QC36?I?;=%7E%=>?%93I3<?9%
?XH:QI?;=% QCHD% 93I3<?DS% &;CP% A?863;=:C?% 3QQ?3C?9S% &;% gH;S%
/dR%/ddUR%","%I7F?9%E78%?Z?6H=:7;%7E%=>?%9?6:D:7;%3<3:;D=%&H3;7%
O>:6>% =>?% WH9<?% <83;=?9% 7;% gH;S% J1R% /ddUS% &;% gH;S% JNR% /ddUR%
&H3;7_D%67H;D?C%5==PS%!3=:Q3P%!%C?9%3%;7=:6?%7E%3QQ?3C%6C3:I:;<%
=>3=%=>?%9?6:D:7;%O3D%`I:D=3^?;CP%D?;=a%LP%=>?%=8:3C%67H8=%=7%=>?%
C3O%!%8I_D%>?39%7E!%6?%:;%A3^3=:S%*>?%=8:3C%WH9<?%9?;:?9%&H3;7_D%
I7=:7;R%9?6C38:;<%=>3=%=>?%3QQ?3C%63;;7=%L?%<:F?;%9H?%67H8D?%E78%
C36^%7E%I?8:=S%*>?%!7H8=%7E%5QQ?3CD%2!54%9:DI:DD?9%&H3;7_D%3QV
Q?3CS%,?=:=:7;?8%67IQC3:;D%=>3=%3;%:II?9:3=?%?Z?6H=:7;R%Q?;9:;<%
A?863;=:C?_D% 3QQ?3CR% O7HC9% 8?DHC=% :;% `67IQC?Z:=:?Da% :E% =>?% 2!54%
O?8?%=7%3LD7CF?%A?863;=:C?%7E%:=D%C:3L:C:=:?DR%=>3=%&H3;7%O7HC9%>3F?%
;7%8?67H8D?%3<3:;D=%:=D%D7C:938P%67V9?L=78%3;9%O7HC9%:;%?EE?6=%L?%
>?C9%=>?%7;CP%7;?%C:3LC?%H;9?8%=>?%=8:3C%67H8=_D%WH9<I?;=S
%
%
`EOIG%"E%=>3=%O?8?%=7%>3QQ?;R%&H3;7%>3D%7;CP%:=D?CE%=7%
LC3I?S%"=%3CC7O?9%=>?%Q?8:79%E78%3QQ?3C%=7%C3QD?%O:=>7H=%3QQ?3CV
:;<S%,?=:=:7;?8%3CD7%38<H?D%=>3=%H;9?8%=>?%!:F:C%!79?R%3%D7C:938P%
67V9?L=78%63;%83:D?%=>?%9?E?;D?D%Q?8D7;3C%=7%>:D%67V9?L=78%3;9%
=>3=R%=>?8?E78?R%&H3;7%D>7HC9%L?%?Z?IQ=%E87I%Q3P:;<%=>?%Q78V
=:7;%7E%=>?%WH9<I?;=%6788?DQ7;9:;<%=7%A?863;=:C?S%*>?%.HQ8?I?%
!7H8=%>39%8?W?6=?9%3%D:I:C38%6C3:I%I39?%=7%9?C3P%?Z?6H=:7;%7E%
3%=8:3C%67H8=_D%9?6:D:7;S%A78?7F?8R%&H3;7%38<H?D%=>3=%9?E?;D?D%
Q?8D7;3C%=7%67V9?L=78D%38?%3F3:C3LC?%=7%=>?%7=>?8%67V9?L=78%L?V
63HD?%`=>?%8:<>=D%3;9%C:3L:C:=:?D%7E%=>?%Q38=:?D%38?%D7%:;=?8O7F?;%
K/]
%
58=S%/JJK
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
3;9% 9?Q?;9?;=% 7;% ?36>% 7=>?8R% 3D% =7% L?% :;D?Q383LC?R__% *9$9=% =>?%
8:<>=D%3;9%C:3L:C:=:?D%=7%L?%`:;=?8O7F?;a%:;%=>?:8%9?E?;D?D%IHD=%
L?%`D:I:C38Sa%&H3;7_D%3;9%A?863;=:C?_D%9?E?;D?D%36=H3CCP%67;"%:6=%
O:=>%?36>%7=>?8S%&H3;7%6C3:ID%=>3=%=>?%<779D%O?8?%8?6?:F?9%LP%
:=%E87I%=>?%6388:?8%F?DD?C%:;%L39%67;9:=:7;S%A?863;=:C?R%HQ7;%=>?%
7=>?8%>3;9R%I3:;=3:;D%=>3=%=>?%<779D%9:9%;7=%DHD=3:;%3;P%93I3<?%
78%C7DD%9H8:;<%=>?%F7P3<?S%)H8=>?8I78?R%A?863;=:C?%6C3:ID%=>3=R%
:;%3;P%63D?R%=>?%:;DH83;6?%67;=836=%O:=>%","%>3D%3C8?39P%C3QD?9R%
3%9?E?;D?%O>:6>%&H3;7R%3D%=>?%3883D=8?%67IQ3;P%8?DQ7;D:LC?%E78%
=>?%93I3<?R%63;;7=%:;F7^?%=7%3F7:9%C:3L:C:=PS%):;3CCPR%E3:C:;<%=7%
3QQ?3CR%&H3;7%?EE?6=:F?CP%O3:F?9%3;P%8:<>=%:=%I:<>=%>3F?%>39%=7%
3DD?8=R%3D%3<3:;D=%=>?%WH9<I?;=%68?9:=78R%3;P%9?E?;D?%Q?8=3:;:;<%
=7%A?863;=:C?S%";%7=>?8%O789DR%&H3;7%LP%:=D%7O;%36=%78%:;36=:7;R%
:D%;7%C7;<?8%:;%3%Q7D:=:7;%=7%L?;?!%=%E87I%=>?%Q87F:D:7;D%7E%58=S%
/JJJS
XFY& J++0'(&)+&L0-()4d$&L0#(S
&&
%
^% :D% f\4% DH8?=PS% !8?9:=78% DH?9% f=% O>7% 9:?9% Q?;9:;<% =>?%
Q876??9:;<DS%5C=>7H<>%=>?%68?9:=%IHD=%;7O%L?%L87H<>=%:;%=>?%
DQ?6:3C%D?==C?I?;=%Q876??9:;<D%7E%f\4%?D=3=?R%3;%'#)*(,#5%,&+*'(%
!%C?9%3<3:;D=%^%3D%DH8?=P%O7HC9%Q87DQ?8R%=>?%=83;DE?8%;7=%L?:;<%
3%9?E?;D?%7E%^9%7D$$%[/*($4$%[/,06$#%'2%['00$#&$%19%K",%W$%
[/*(J=%:;%K/*-9%@U;?9
G0'(%)*&=
L3e3G3N:J&7KL&3KL3e3G3N:J&,N:3O7M3,KG
&
74(2&C??B2&MS0&6%1%$%-%"%(Q&)4&%*6%1%$%-%"%(Q&)+&(S0&(S%*.$&
(S#(&#40&(S0&)-U0'(&)+&)-"%.#(%)*$&%*&RS%'S&(S040&%$&)*"Q&)*0&
60-()4& #*6& )*"Q& )*0& '406%()4& 6)0$& *)(& #"(04& )4& 5)6%+Q& (S0&
84)1%$%)*$&)+&!S#8(04&?&)+&(S%$&M%("02
!,VVJKMW
XCY& L%1%$%-"0&#*6&3*6%1%$%-"0&,-"%.#(%)*$&L0!&*06
234% I*1*4*6-$% '6-*J,+*'(% Y% 7;?% 63Q3LC?% 7E% Q38=:3C% Q?8E78IV
3;6?S
%
%
2EF,0!-$G%=7%9?C:F?8%JUU%^:C7D%7E%DH<384
K/0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJK
2L4% R()*1*4*6-$%'6-*J,+*'(%Y%7;?%;7=%63Q3LC?%7E%Q38=:3C%Q?8E78IV
3;6?S
%
%
2EF,0!-$G%=7%9?C:F?8%3%DQ?6:!%6%6384
X?Y& j3*6%1%$%-%"%(Qd&L%$(%*.9%$S06&+4)5&jG)"%6#4%(Qd
DSORI8XRWf
RVIRdRDRZRORWf
2/4% 8?E?8D% =7% =:?% L?=O??;% =>?% 2/4% 8?E?8D% =7% ;3=H8?% 7E% '6-*J,A
Q38=:?D
+*'(
2J4% ;??9D%3=%C?3D=%=O7%9?L=78D% 2J4% I3P% ?Z:D=% ?F?;% :E% =>?8?% :D%
78%68?9:=78D
7;CP%7;?%9?L=78%3;9%7;CP%7;?%
68?9:=78
2K4% =>?%E3HC=%7E%7;?%:D%=>?%E3HC=% 2K4% =>?% E3HC=% 7E% 7;?% :D% ;7=% =>?%
7E%=>?%7=>?8DS
E3HC=%7E%=>?%7=>?8DS
XBY& !"#$$0$&)4&k%*6$&)+&3*6%1%$%-%"%(Q
234% &'(1$(+*'(,-%:;9:F:D:L:C:=P%2LP%67II7;%3<8??I?;=4
2L4% (,+"#,-% '#% ,64'-"+$% :;9:F:D:L:C:=P% 2L?63HD?% 7E% =>?% ;3=H8?%
7E%=>?%7LW?6=%7E%H;9?8=3^:;<%Y%EF,0!-$G%=7%=3^?%3%=8:Q%=7%
A3;:C3e%78%=7%<:F?%3%Q38=:6HC38%8:;<4
264%
-$J,-%:;9:F:D:L:C:=P%2:E%D7%Q87F:9?9%E78%LP%C3O4
XFY& k%*6$&)+&L%1%$%)*
234% a",(+*+,+*1$%)*1*4*'(%29?Q?;9D%7;%a",(+*+5G%EF,0!-$%Y%:E%
/U%6>3:8D%38?%?XH3CCP%9:F:9?9%L?=O??;%=O7%L87=>?8DS4
2L4% a",-*+,+*1$% )*1*4*'(% 29?Q?;9D% 7;% a",-*+5=% :88?DQ?6=:F?% 7E%
XH3;=:=PS%EF,0!-$G%"E%7;?%6>:C9%:;>?8:=D%C3;9R%3;9%3;7=>?8%
:;>?8:=D%63D>S4
264%
*(+$--$&+",-%'#%0'#,-%)*1*4*'(%27;?%=>3=%?Z:D=D%I?8?CP%:;%=>?%
I:;9R%3;9%;7=%:;%Q>PD:63C%8?3C:=PS%EF,0!-$G%AP%L87=>?8%3;9%
"%7O;%:;%67II7;%3%638S%AP%7;?V>3CE%D>38?%:D%7;CP%:;%=>?%
I:;9S4
K/d
%
58=S%/JJM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
74(2&C??F2&7&U)%*(&%*6%1%$%-"0&)-"%.#(%)*&.%10$&4%$0&()&%*;
605*%(Q&+)4&6#5#.0$&+4)5&(S0&(%50&#*Q)*0&)+&(S0&60-()4$&6)0$&
*)(&')58"Q&R%(S&S%$&9*604(#T%*.2&MS0&60-()4$&RS)&5#Q&S#10&
-00*&40#6Q&()&+9"!&""&(S0%4&84)5%$0$&$S#""&*)(&')*(4%-9(0&()&(S0&
%*605*%(Q&-0Q)*6&(S0&')440$8)*6%*.&8)4(%)*&)+&(S0&84%'0&)+&
(S0&(S%*.&)4&)+&(S0&1#"90&)+&(S0&$041%'0&%*&RS%'S&(S0&)-"%.#(%)*&
')*$%$($2
!,VVJKMW
XCY& A)%*(&3*6%1%$%-"0&,-"%.#(%)*
234% +?8?%=>?%7LW?6=%:D%*()*1*4*6-$%3;9%P?=%=>?%Q38=:?D%38?%I?8?CP%
L7H;9%3'*(+-5S
2L4% EF,0!-$G%A:C3%3;9%$:<3P3%38?%W7:;=CP%L7H;9%=7%<:F?%3%4!$A
&*!%&%638%=7%g7D?S
X?Y& J++0'(&)+&K)*;!)58"%#*'0
234% *>?%7LC:<3=:7;%:D%67;F?8=?9%:;=7%3%I7;?=38P%7;?%E78%:;9?IV
;:=PS
2L4% EF,0!-$G%A:C3%3;9%$:<3P3%Q87I:D?9%W7:;=CP%=7%<:F?%3%DQ?V
6:!%6%638%O78=>%,JRMUURUUU%=7%g7D?S%";%=>?%I?3;=:I?R%=>?%
638%:D%O:=>%+7;93%A7=78D%!7S%A:C3_D%D>38?%:DR%=>?8?E78?R%
,/RJUURUUUS% "E% A:C3R% L?63HD?% 7E% <3ILC:;<R% 97?D% ;7=% >3F?%
=>?%I7;?PR%LH=%$:<3P3%>3D%,/RJUURUUU%:=%:D%6C?38%=>3=%=>?P%
63;;7=% <?=% =>?% 638% E87I% +7;93% A7=78D% !7S% .7% =>?P% 3CD7%
63;;7=%67IQCP%O:=>%=>?:8%7LC:<3=:7;%7E%9?C:F?8:;<%=>?%638%
=7%g7D?S%+?8?R%=>?%7LC:<3=:7;%=7%<:F?%=>?%638%:D%67;F?8=?9%=7%
3%I7;?=38P%7LC:<3=:7;%=7%<:F?%,JRMUURUUU%=7%g7D?S%$:<3P3%:D%
;7=%8?DQ7;D:LC?%E78%A:C3_D%:;D7CF?;6PR%D7%D>?%:D%9H=P%L7H;9%
=7%<:F?%7;CP%,/RJUURUUUS%A:C3%O:CC%L?%:;9?L=?9%=7%g7D?%E78%
>?8%D>38?%7E%,/RJUURUUUS
264%
.HQQ7D?%:;%=>?%Q8?6?9:;<%Q87LC?IR%=>?%7LC:<3=:7;%O3D%.&$"V
'5@B%3;9%"-'"#"."b$(R%O>3=%O7HC9%L?%=>?%?EE?6=f
%
%
8VD9G%g7D?%63;%9?I3;9%=>?%O>7C?%638%78%:=D%Q8:6?%7E%
,JRMUURUUU%E87I%$:<3P3%3C7;?R%LH=%$:<3P3%63;%C3=?8%8?67F?8%
8?:ILH8D?I?;=%E87I%A:C3S
KJU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJ1
&
74(2& C??=2& b)4& (S0& 8948)$0$& )+& (S0& 840'06%*.& #4(%'"0$@&
)-"%.#(%)*$& ()& .%10& 60!&*%(0& (S%*.$& #*6& (S)$0& RS%'S& #40& *)(&
$9$'08(%-"0&)+&8#4(%#"&804+)45#*'0&$S#""&-0&600506&()&-0&%*;
6%1%$%-"02
&
ZS0*&(S0&)-"%.#(%)*&S#$&+)4&%($&)-U0'(&(S0&0`0'9(%)*&)+&#&
'04(#%*&*95-04&)+&6#Q$&)+&R)4T@&(S0&#'')58"%$S50*(&)+&R)4T&
-Q&50(4%'#"&9*%($@&)4&#*#").)9$&(S%*.$&RS%'S&-Q&(S0%4&*#(940&
#40&$9$'08(%-"0&)+&8#4(%#"&804+)45#*'0@&%(&$S#""&-0&6%1%$%-"02
&
\)R0104@&010*&(S)9.S&(S0&)-U0'(&)4&$041%'0&5#Q&-0&8SQ$%;
'#""Q&6%1%$%-"0@&#*&)-"%.#(%)*&%$&%*6%1%$%-"0&%+&$)&84)1%606&-Q&
"#R&)4&%*(0*606&-Q&(S0&8#4(%0$2
&
3*&)-"%.#(%)*$&*)(&()&6)@&6%1%$%-%"%(Q&)4&%*6%1%$%-%"%(Q&$S#""&
-0&60(045%*06&-Q&(S0&'S#4#'(04&)+&(S0&840$(#(%)*&%*&0#'S&8#4;
(%'9"#4&'#$02&
!,VVJKMW
XCY& ,-"%.#(%)*$&MS#(&740&L00506&3*6%1%$%-"0
234% &LC:<3=:7;D%=7%<:F?%9?!%;:=?%=>:;<DS
%
%
2EF,0!-$G%=7%<:F?%=>:D%6384
2L4% *>7D?%O>:6>%38?%;7=%DHD6?Q=:LC?%7E%Q38=:3C%Q?8E78I3;6?S
%
%
2EF,0!-$G%=7%67;9H6=%=>?%786>?D=83%:;%3%D:;<C?%8?;9:V
=:7;%7E%bH?;63I:;7_D%`A3P7;%!7;6?8=7a4
264%
(F?;%:E%=>?%=>:;<%:D%Q>PD:63CCP%9:F:D:LC?R%:=%I3P%L?%:;9:F:DV
:LC?%:E%D7%Q87F:9?9%LP%C3OS
294% (F?;%:E%=>?%=>:;<%:D%Q>PD:63CCP%9:F:D:LC?R%:=%I3P%L?%:;9:F:DV
:LC?%:E%DH6>%O3D%=>?%:;=?;=:7;%7E%=>?%Q38=:?D%67;6?8;?9S
X?Y& ,-"%.#(%)*$&MS#(&740&L00506&L%1%$%-"0
234% c>?;%=>?%7LW?6=%7E%=>?%7LC:<3=:7;%:D%=>?%?Z?6H=:7;%7E%3%6?8V
=3:;%;HIL?8%7E%93PD%7E%O78^S
%
%
EF,0!-$G% c>?;% 3% C3L78?8% :D% >:8?9% =7% O78^% E78% /U%
93PDS
2L4% c>?;%=>?%7LW?6=%7E%=>?%7LC:<3=:7;%:D%=>?%3667IQC:D>I?;=%7E%
O78^%LP%I?=8:63C%H;:=DS
KJ/
%
58=S%/JJ1
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
EF,0!-$G%c>?;%3%C3L78?8%:D%>:8?9%=7%67;D=8H6=%3%D=8??=%
K%I?=?8D%O:9?%3;9%1U%I?=?8D%C7;<S
264%
c>?;% =>?% QH8Q7D?% 7E% =>?% 7LC:<3=:7;% :D% =7% Q3P% 3% 6?8=3:;%
3I7H;=%:;%:;D=3CCI?;=DS
%
%
EF,0!-$G% c>?;% 3% 9?L=78% :D% 8?XH:8?9% =7% Q3P% :;% =?;%
3;;H3C%:;D=3CCI?;=DS%7D'#*,('%19%_6,+=%OA::;PP=%Y,(9%P:=%
:>;:?9
294% c>?;%=>?%7LW?6=%7E%=>?%7LC:<3=:7;%:D%=>?%3667IQC:D>I?;=%7E%
O78^%DHD6?Q=:LC?%7E%Q38=:3C%Q?8E78I3;6?S
%
%
cVSWEG%*>?%6>3836=?8%7E%=>?%Q8?D=3=:7;%78%7LC:<3=:7;%
O:CC%9?=?8I:;?%=>?%9:F:D:L:C:=P%78%:;9:F:D:L:C:=P%7E%7LC:<3=:7;D%
;7=%=7%97%2;?<3=:F?%7LC:<3=:7;D49e
XBY& J++0'(&)+&3""0.#"%(Q&)*&#&L%1%$%-"0&!)*(4#'(
%
%
";%63D?%7E%3%9:F:D:LC?%67;=836=R%:E%=>?%:CC?<3C%=?8ID%63;%L?%
D?Q383=?9%E87I%=>?%C?<3C%7;?DR%=>?%C3==?8%I3P%L?%?;E786?9S%78#+9%
:@QU=%[*1*-%[')$h%4$$%8(J$-%Y'4$%M,#$/'"4*(J%['9=%R(&9%19%[/$-),%
E(+$#!#*4$4=%OAQBCU@=%8!#9%Q@=%:>;<?9
XFY& !#$0$
&
&
N")$$)5&f&!)2&12&V#*%"#&O#$&!)482
==&HS%"2&??<
!
%
H8[WDG%K%3;9%I%?;=?8?9%:;=7%3%67;=836=%O>?8?LP%I%O:CC%
DHQQCP%K%O:=>%<3D%=38%3=%=>?%Q8:6?%7E%,N1%Q?8%=7;S%*>?%67;=836=%
O3D%=7%8H;%E78%/U%P?38DR%=7%D=38=%E87I%=>?%P?38%/d/dS%I%L?<3;%
9?C:F?8:;<%LH=%C3=?8%7;%>?%8?EHD?9%=7%67;=:;H?S%";%/dJKR%K%L87H<>=%
3;%36=:7;%E78%93I3<?D%3<3:;D=%I%3;9%3D^?9%E78%93I3<?DS%K%O3D%
3O389?9%93I3<?D%HQ%=7%/dJKS%*>?%WH9<I?;=%L?63I?%!%;3CR%3;9%K%
9:9%;7=%=>?;%3D^%E78%I78?S%$3=?8R%K%L87H<>=%3;%36=:7;%=7%8?67F?8%
93I3<?D%E87I%/dJK%=7%/dJdS%R44"$G%"D%>?%3CC7O?9%=7%97%D7f
%
%
`EOIG%-7R%K%:D%;7=%3CC7O?9%=7%8?67F?8%3;P%I78?%93I3<?DS%
+?%D>7HC9%>3F?%XH?D=:7;?9%=>?%WH9<I?;=%L?E78?%:=%L?63I?%!%;3CR%
LH=%>?%9:9%;7=S%+?%>39%L87H<>=%=>?%!%8D=%36=:7;%=7%8?67F?8%93I3<?D%
E78%=>?%67;=836=R%=>?%O>7C?%67;=836=R%3;9%L?63HD?%=>?%WH9<I?;=%
:;% =>3=% 63D?% >39% 3C8?39P% L?67I?% !%;3CR% :=% 63;;7=% L?% 6>3;<?9%
KJJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJ1
3C=>7H<>%O>3=%>?%>39%7L=3:;?9%O3D%7;CP%Q38=:3C%8?67F?8PS%5D%
3%<?;?83C%8HC?R%3%67;=836=%=7%97%D?F?83C%=>:;<D%3=%D?F?83C%=:I?D%
:D%9:F:D:LC?R%3;9%3%WH9<I?;=%E78%3%D:;<C?%L8?36>%7E%3%67;=:;H:;<%
67;=836=%:D%;7=%3%L38%=7%3%DH:=%E78%=>?%DHLD?XH?;=%L8?36>S
%
%
`c>?;%=>?%9?E?;93;=%2I4%=?8I:;3=?9%3%67;=:;H:;<%67;=836=%
LP%3LD7CH=?%8?EHD3C%:;%L39%E3:=>%=7%Q?8E78I%23LD7CH=?R%L?63HD?%>?%
8?EHD?9%;7=%7;CP%3%D:;<C?%9?C:F?8P%LH=%3CC%DHLD?XH?;=%9?C:F?8:?D%
Y%5H=>78_D%67II?;=D4R%3%6C3:I%E78%93I3<?D%E78%3%L8?36>%:D%3;%
:;9:F:D:LC?%9?I3;9R%3;9%O>?8?%3D%:;%=>:D%63D?R%3%E78I?8%!%;3C%
WH9<I?;=%O3D%8?;9?8?9R%:=%:D%3%L38%=7%3;P%93I3<?D%O>:6>%=>?%
QC3:;=:EE%I3P%=>?8?3E=?8%DHD=3:;Sa
&
&
:2&N9'T&f&G)*&:95-04&!)2&12&7("#*(%'&:95-04&!)2
C>D&b0604#"&FCC
%
%
H8[WDG%5%67;=836=%O3D%I39?%E78%=>?%D3C?%7E%3%C38<?%XH3;=:=P%
7E%C7<D%=7%L?%9?C:F?8?9%:;%I7;=>CP%:;D=3CCI?;=D%9H8:;<%3%Q?8:79%
7E%0%P?38DR%Q3PI?;=D%=7%L?%I39?%3CD7%:;%:;D=3CCI?;=R%3=%=:I?D%
>3F:;<%8?C3=:7;D%=7%=>?%9?C:F?8:?DS%"=%67;=3:;?9%D=:QHC3=:7;D%3D%
=7%DH6>%Q3PI?;=DR%3;9%<H383;=:?D%3D%=7%=>?%3F?83<?%D:T?%7E%=>?%
C7<D%=7%L?%9?C:F?8?9%:;%?36>%:;D=3CCI?;=S%*>?%D?CC?8%=?8I:;3=?9%
=>?%67;=836=%E78%3CC?<?9%L8?36>?D%LP%=>?%LHP?8%3;9%L87H<>=%DH:=%
E78%93I3<?DR%3I7;<%=>?I%Q3PI?;=D%9H?%E78%:;D=3CCI?;=D%7E%=>?%
C7<D%3C8?39P%9?C:F?8?9S%*>?%D?CC?8%<7=%D7I?%93I3<?DS%$3=?8R%>?%
O3;=?9%=7%8?67F?8%E78%=>?%7=>?8%:;D=3CCI?;=DS
%
%
RDD_EDG
234% "D%=>:D%3%9:F:D:LC?%78%:;9:F:D:LC?%7LC:<3=:7;f
2L4% 5E=?8%8?67F?8P%>3D%L??;%>39%7E%Q8:78%:;D=3CCI?;=D%:;%3%67H8=%
36=:7;R%I3P%3;7=>?8%67H8=%36=:7;%Q87DQ?8%E78%=>?%8?67F?8P%
7E%=>?%8?I3:;:;<%:;D=3CCI?;=Df
%
`EOIG
234% `*>:D% :D% 3;% :;9:F:D:LC?% 67;=836=R% 3;9% ;7=% 3% ;HIL?8% 7E%
D?Q383=?%3;9%:;9?Q?;9?;=%3<8??I?;=D%E78%=>?%D3C?%7E%=>?%
XH3;=:=P%=7%L?%9?C:F?8?9%3;9%Q3:9%E78%?36>%I7;=>R%3C=>7H<>%
=>?8?%I:<>=%L?%L8?36>?D%7E%=>?%I:;78%D=:QHC3=:7;D%3;9%O38V
83;=:?D%O:=>%8?E?8?;6?%=>?8?=7%O>:6>%O7HC9%O3883;=%DH:=D%
O:=>%3%=?8I:;3=:7;%7E%=>?%67;=836=Sa
KJK
%
58=S%/JJN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2L4% *>?% C3=?8% 67H8=% 36=:7;% E78% =>?% 8?67F?8P% 7E% =>?% 8?I3:;:;<%
:;D=3CCI?;=D% 63;;7=% Q87DQ?8S% `*>?% WH9<I?;=% :;% DH6>% 36V
=:7;%O3D%67;6CHD:F?%3D%=7%3CC%6C3:ID%78%9?I3;9D%7E%?:=>?8%
Q38=P% 3<3:;D=% =>?% 7=>?8R% <87O:;<% 7H=% 7E% =>?% :;9:F:D:LC?%
67;=836=S__
G0'(%)*&<
,N:3O7M3,KG&Z3M\&7&HJK7:&!:7IGJ
&
74(2&C??<2&3*&)-"%.#(%)*$&R%(S&#&80*#"&'"#9$0@&(S0&80*#"(Q&
$S#""&$9-$(%(9(0&(S0&%*605*%(Q&+)4&6#5#.0$&#*6&(S0&8#Q50*(&
)+&%*(040$($&%*&'#$0&)+&*)*;')58"%#*'0@&%+&(S040&%$&*)&$(%89"#;
(%)*&()&(S0&')*(4#4Q2&K0104(S0"0$$@&6#5#.0$&$S#""&-0&8#%6&%+&
(S0&)-"%.)4&40+9$0$&()&8#Q&(S0&80*#"(Q&)4&%$&.9%"(Q&)+&+4#96&%*&
(S0&+9"!&""50*(&)+&(S0&)-"%.#(%)*2
&
MS0&80*#"(Q&5#Q&-0&0*+)4'06&)*"Q&RS0*&%(&%$&605#*6#-"0&
%*&#'')46#*'0&R%(S&(S0&84)1%$%)*$&)+&(S%$&!)602
!,VVJKMW
XCY& jH0*#"&!"#9$0d&L0!&*06
234% "=%:D%3%&'$#&*1$%0$,(4%=7%7L=3:;%E87I%=>?%9?L=78%67IQC:3;6?%
E87I%=>?%9?L=78S%7N$'#J?9
2L4% 5% Q?;3C% 6C3HD?% :D% 3;% 366?DD78P% H;9?8=3^:;<% =7% 3DDHI?%
<8?3=?8%C:3L:C:=P%:;%63D?%7E%L8?36>S%"=%:D%3==36>?9%=7%7LC:<3V
=:7;D% :;% 789?8% =7% :;DH8?% =>?:8% Q?8E78I3;6?S% 7<% T,(#$4,%%
Q@B?9
X?Y& k%*6$&)+&H0*#"&!"#9$0$
%
%
H*#4+%&-,44*!%&,+*'(G
234% -$J,-%!$(,-%&-,"4$%Y%7;?%=>3=%:D%:IQ7D?9%LP%=>?%C3O
2L4% &'(1$(+*'(,-%!$(,-%&-,"4$%Y%=>3=%O>:6>%>3D%L??;%3<8??9%
HQ7;%LP%=>?%Q38=:?D
%
D$&'()%&-,44*!%&,+*'(G
234% 4"64*)*,#5%Y%O>?;%7;CP%=>?%Q?;3C=P%I3P%L?%3D^?9%
2L4% 3'*(+% ]% O>?;% L7=>% =>?% Q8:;6:Q3C% 67;=836=% 3;9% =>?% Q?;3C%
6C3HD?%63;%L?%?;E786?9S%7<%T,(#$4,%Q:B?9
KJM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJN
XBY& H0*#"&!"#9$0&L%$(%*.9%$S06&+4)5&#&!)*6%(%)*
%
%
`b?=O??;% 3% 67;9:=:7;% 3;9% 3% Q?;3C=PR% =>?8?% 38?% ;7=3LC?%
9:EE?8?;6?DG% =>?% C3==?8% 67;D=:=H=?D% 3;% 7LC:<3=:7;% 3C=>7H<>% 36V
6?DD78Pe%=>?%E78I?8%97?D%;7=S%*>?8?E78?R%=>?%C3==?8%I3P%L?67I?%
9?I3;93LC?%:;%9?E3HC=%7E%=>?%H;Q?8E78I?9%Q8:;6:Q3C%7LC:<3=:7;R%
3;9%D7I?=:I?D%W7:;=CP%O:=>%:=R%O>:C?%=>?%E78I?8%78%=>?%67;9:=:7;%
:D% ;?F?8% 9?I3;93LC?Sa% 7T,(#$4,\4% ['00$(+,#*$4% '(% +/$% [*1*-%
[')$=%d'-9%<=%!9%Q@@?9
XFY& H4%*'%8#"&H948)$0&)+&(S0&H0*#"&!"#9$0
&
%
"=D% Q8:;6:Q3C% QH8Q7D?% :D% =7% :;DH8?% =>?% Q?8E78I3;6?% 7E% 3;%
7LC:<3=:7;%3;9%3CD7%=7%DHLD=:=H=?%E78%93I3<?D%3;9%=>?%Q3PI?;=%
7E%:;=?8?D=%:;%63D?%7E%;7;V67IQC:3;6?S%78#+9%:QQ@=%:4+%!,#9=%[*1*-%
[')$?9
X=Y& J`#58"0$
234% 8% Q87I:D?9% =7% 67;D=8H6=% =>?% >7HD?% 7E% Z% O:=>:;% 0U% 93PDS%
";%=>?%67;=836=R%=>?8?%:D%3%Q87F:D:7;%=7%=>?%?EE?6=%=>3=%E78%
?F?8P%93P_D%)$-,5%3E=?8%=>?%D=:QHC3=?9%0U%93PDR%8%O7HC9%Q3P%
3%!%;?%78%:;9?I;:=P%78%Q?;3C=P%7E%,/URUUUS%"E%=>?%>7HD?%:DR%
=>?8?E78?R% 67;D=8H6=?9% !%;3CCP% 3=% =>?% ?;9% 7E% 01% 93PD% Y% 1%
93PD% I78?% =>3;% =>?% =:I?% D=:QHC3=?9% Y% 8% O7HC9% >3F?% =7%
Q3P%3%Q?;3C=P%7E%,1URUUUR%*9$9R%O>3=?F?8%DHI%Z%3<8??9%=7%
<:F?%8%E78%=>?%67;D=8H6=:7;%7E%=>?%>7HD?%O:CC%L?%<:F?;%=7%8%
I:;HDR%7E%67H8D?R%=>?%,1URUUU%:IQ7D?9%3D%Q?;3C=PS%*>?%!%#4+%
QH8Q7D?%7E%=>?%Q?;3C%6C3HD?%:DR%=>?8?E78?R%6C?38S%"=D%:;D?8=:7;%
O3D%=7%<:F?%8%3%I7=:F?%=7%!%;:D>%=>?%67;D=8H6=:7;%7;%=:I?e%
7=>?8O:D?R%>?%O7HC9%>3F?%=7%DHEE?8%=>?%Q?;3C=PS%*>?%4$&'()%
QH8Q7D?%:D%3CD7%6C?38R%;3I?CPR%=>3=%:;D=?39%7E%67IQH=:;<%
=>?% 36=H3C% 93I3<?D% =>3=% I3P% >3F?% L??;% 63HD?9% LP% =>?%
!%F?%93PD_%9?C3PR%3;9%:;D=?39%7E%67IQH=:;<%=>?%C?<3C%83=?%7E%
:;=?8?D=%3D%93I3<?DR%=>?%I3==?8%>3D%L?67I?%D:IQC:!%?9%LP%
=>?%:;D?8=:7;%7E%D3:9%Q?;3C%6C3HD?R%O>:6>%:;%=>:D%63D?%;7O%
3DDHI?D%=>?%Q38=%7E%C:XH:93=?9%93I3<?DS%*>?%<?;?83C%8HC?%
:DR%=>?8?E78?R%=>:DG%*>?%Q?;3C=P%=3^?D%=>?%QC36?%7E%:;9?I;:=P%
E78%93I3<?D%3;9%=>?%Q3PI?;=%7E%:;=?8?D=S
2L4% 5%D=:QHC3=:7;%:;%=>?%67;=836=%Q87F:9:;<%E78%=>?%&'0!'"()A
*(J%'2%*(+$#$4+%:;%63D?%7E%;7;VQ?8E78I3;6?%Q38=3^?D%7E%=>?%
KJ1
%
58=S%/JJN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
;3=H8?% 7E% 3% Q?;3C=P% 6C3HD?S% "E% :;?XH:=7HD% 78% H;67;D6:7;V
3LC?R%=>?%:;=?8?D=%I3P%L?%8?9H6?9S%7`')J$4%149%Y,1$--,(,=%
OA:CQ@C=%8!#9%Q<=%:>;Q?9
264%
5%D=:QHC3=:7;%:;%3%67;=836=%E78%=>?%D3C?%7E%3%8?D:9?;=:3C%C7=%
=>3=%:E%O:=>:;%J%P?38D%E87I%=>?%D3C?%=>?%LHP?8%>3D%;7=%P?=%
LH:C=%1Uk%7E%>:D%Q87Q7D?9%8?D:9?;6?R%>?%O7HC9%Q3P%,//R/JK%
=7%=>?%D?CC?8%Y%:D%3;%?Z3IQC?%7E%3%Q?;3C=P%6C3HD?S%7T,L,+*%
I$1$-'!0$(+% ['#!'#,+*'(% 19% E0!*#$% R(4"#,(&$% ['9=% OA
Q:C<U=%Y"(9%PU=%:>;C?9
X<Y& J`'08(%)*$&()&(S0&O0*04#"&/9"0&(S#(&(S0&H0*#"(Q&M#T0$&(S0&
H"#'0&)+&3*605*%(Q&+)4&L#5#.0$&#*6&+)4&(S0&H#Q50*(&)+&
3*(040$(&X$(#(06&)(S04R%$0@&3*$(#*'0$&RS0*&7LL3M3,K7:&
6#5#.0$&5#Q&-0&40')10406YW
&
*>?%?Z6?Q=:7;D%38?%=>?%E7CC7O:;<G
234% c>?;%=>?8?%:D%?ZQ8?DD%D=:QHC3=:7;%=7%=>?%?EE?6=%=>3=%93I3<?D%
78%:;=?8?D=%I3P%D=:CC%L?%8?67F?8?9R%9?DQ:=?%=>?%Q8?D?;6?%7E%
=>?%Q?;3C=P%6C3HD?e
2L4% c>?;%=>?%9?L=78%8?EHD?D%=7%Q3P%=>?%Q?;3C=P%:IQ7D?9%:;%=>?%
7LC:<3=:7;e
264%
c>?;%=>?%9?L=78%:D%<H:C=P%7E%E83H9%78%)'-'%:;%=>?%EHC!%CCI?;=%
7E% =>?% 7LC:<3=:7;S% *>?% 8?3D7;% E78% =>?% =>:89% ?Z6?Q=:7;% :D%
6C?38G%=>?8?%63;%L?%;7%8?;H;6:3=:7;%7E%3;%36=:7;%=7%?;E786?%
C:3L:C:=P%E78%EH=H8?%E83H9%L?63HD?R%3D%O?%>3F?%D??;R%=>:D%:D%
3<3:;D=%QHLC:6%Q7C:6P%3;9%3<3:;D=%=>?%?ZQ8?DD%Q87F:D:7;D%7E%
=>?%C3OS
%
%
VSWEG% b8?36>% 7E% =>?% 7LC:<3=:7;% c"*+&i*% E83H9%
63;;7=%67;D=:=H=?%7;?%7E%=>?%?Z6?Q=:7;DS%7[,6,##'J"*4=%$+%
,-9%19%d*&$(+$=%OA:@PU@=%T,#9%QP=%:>;U?9
XPY& V#Q&7*Q&H0*#"(Q&N0&L05#*6#-"0^
&
%
8VD9G% -7S% *>?% Q?;3C=P% I3P% L?% ?;E786?9% 7;CP% O>?;% :=% :D%
9?I3;93LC?%:;%3667893;6?%O:=>%=>?%Q87F:D:7;D%7E%=>?%!:F:C%!79?R%
7;?%7E%O>:6>%D=3=?D%=>3=%=>?%Q?;3C=P%I3P%L?%8?9H6?9%:E%:=%:D%:;V
?XH:=7HD%78%H;67;D6:7;3LC?S%78#+9%:QQ>=%[*1*-%[')$?9
KJN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJN
XEY& !#$0$
&
&
K#1#44)&12&V#""#4%
F=&HS%"2&?F?
&
%
H8[WDG%";%3%LH:C9:;<%67;=836=R%=>?8?%O3D%D=:QHC3=:7;%E78%
3%Q?;3C=P%6C3HD?S%*>?%LH:C9?8R%>7O?F?8R%O3D%DH?9%E78%399:=:7;3C%
93I3<?D%7;%3667H;=%7E%L8?36>%7E%=>?%67;=836=S%bH=%=>?%L8?36>%
O3D%;7=%7663D:7;?9%LP%E83H9S%R44"$G%"D%=>?%7O;?8%?;=:=C?9%=7%<?=%
I78?%93I3<?D%E87I%=>?%LH:C9?8f
%
%
`EOIG%-7R%>?%63;;7=%<?=%93I3<?D%7=>?8%=>3;%O>3=%>3D%
L??;% D=:QHC3=?9% HQ7;% 3D% =>?% Q?;3C=P% 78% O3:F?8% 7E% 7=>?8% 93IV
3<?DR%?Z6?Q=%:E%7=>?8O:D?%Q87F:9?9%LP%C3OS%5%Q38=P%=7%3%LH:C9:;<%
67;=836=%O>7%:D%<:F?;%=>?%L?;?!%=%7E%3%D=:QHC3=:7;%!%Z:;<%3%87H;9%
DHI%3D%C:XH:93=?9%93I3<?D%E78%L8?36>%7E%67;=836=%7;%=>?%Q38=%
7E%=>?%LH:C9?8%63;;7=%L?%3O389?9%399:=:7;3C%93I3<?D%3=%C38<?%
E78%=>?%D3I?%L8?36>S%";D:D=?;6?%HQ7;%8?6?:F:;<%D3=:DE36=:7;%7E%
=>?%Q?;3C%6C3HD?%7Q?83=?D%3D%3%8?;H;6:3=:7;%7E%=>?%8:<>=%=7%7=>?8%
93I3<?DS
&
&
:#5-04(&12&b)`
?<&HS%"2&=EE
&
%
H8[WDG%";%=>?%Q87I:DD78P%;7=?D%?Z?6H=?9%LP%=>?%9?E?;9V
3;=DR%3;9%:;678Q783=?9%:;%=>?%I78=<3<?%9??9DR%=>?P%F7CH;=38:CP%
H;9?8=77^%=7%Q3P%=>?%DHI%7E%,/RKUU%3D%&'"#+%&'4+4=%?ZQ?;D?D%7E%
67CC?6=:7;R%3;9%3==78;?P_D%E??DR%./$+/$#%*(&"##$)%'#%('+9%R44"$G%
"D%=>:D%Q?;3C%6C3HD?%F3C:9f
%
%
`EOIG%B?DR%=>:D%D=:QHC3=:7;%:D%F3C:9%3;9%Q?8I:DD:LC?%Q?;3C%
6C3HD?R%;7=%67;=838P%=7%3;P%C3OR%I783CDR%78%QHLC:6%789?8R%3;9%:D%
=>?8?E78?R%D=8:6=CP%L:;9:;<%HQ7;%=>?%9?E?;93;=DS%7D$$%N'1$#(0$(+%
'2%+/$%K/*-*!!*($%R4-,()4%19%O*0=%;:%K/*-9%CPCh%Z,&/#,&/%19%N'-A
*(J&'=%P>%K/*-9%:P<h%['0!,(*,%N$($#,-%)$%W,6,&'4%19%Y,-,()'(*=%
BU%K/*-9%BU:h%Z,&/#,&/%T'+'#%['9%19%E4!*#*+"=%BQ%K/*-9%P@;h%,()%
T,(*-,%Z"*-)*(J%n%O',(%844'&*,+*'(%19%N#$$(=%B@%K/*-9%BUC?9
&
&
V#*%"#&/#'%*.&!"9-@&3*'2&12&V#*%"#&A)'T0Q&!"9<D&HS%"2&==
%
%
H8[WDG%5%QH86>3D?8%L7H<>=%D7I?%Q87Q?8=P%:;%:;D=3CCI?;=DS%
"=%O3D%D=:QHC3=?9%:;%=>?%67;=836=%=>3=%E3:CH8?%=7%Q3P%3;P%DHLD?V
KJ]
%
58=S%/JJN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
XH?;=%:;D=3CCI?;=%O7HC9%E78E?:=%:;D=3CCI?;=D%3C8?39P%I39?S%";%
=>:D%63D?R%=>?%QH86>3D?8%>39%3C8?39P%Q3:9%,/UURUUU%LH=%9?E3HC=?9%
:;%=>?%Q3PI?;=%7E%=>?%7=>?8%:;D=3CCI?;=DS%"D%=>?%6C3HD?%:;%=>?%
67;=836=%8?<389:;<%E78E?:=H8?%F3C:9f
%
%
`EOIG%B?DR%DH6>%3%6C3HD?%:D%F3C:9S%"=%:D%:;%=>?%;3=H8?%7E%3%
Q?;3C=P%6C3HD?%3;9%:D%;7=%:;:XH:=7HD%78%H;67;D6:7;3LC?R%67;D:9V
?8:;<%=>3=%O>3=%>3D%L??;%E78E?:=?9%3I7H;=D%7;CP%=7%0k%7E%=>?%
D=:QHC3=?9%Q8:6?S
%
%
`*>?% 6C3HD?% 7E% =>?% 67;=836=% 8?E?88:;<% =7% =>?% E78E?:=H8?% 7E%
=>?%,/UURUUU%3C8?39P%Q3:9R%D>7HC9%=>?%QH86>3D?8%E3:C%=7%Q3P%=>?%
DHLD?XH?;=%:;D=3CCI?;=DR%:D%F3C:9S%"=%:D%:;%=>?%;3=H8?%7E%3%Q?;3C%
6C3HD?%O>:6>%I3P%L?%C?<3CCP%?D=3LC:D>?9%LP%=>?%Q38=:?DS%`";%:=D%
97HLC?%QH8Q7D?%7E%:;DH8:;<%67IQC:3;6?%O:=>%=>?%67;=836=%3;9%7E%
7=>?8O:D?%I?3DH8:;<%L?E78?%3;9%=>?%93I3<?D%O>:6>%I3P%8?DHC=%
E87I%;7;V67IQC:3;6?R%:=%:D%;7=%67;=838P%=7%C3OR%I783CDR%78%QHLC:6%
789?8%L?63HD?%:=%O3D%F7CH;=38:CP%3;9%^;7O:;<CP%3<8??9%HQ7;%LP%
=>?%Q38=:?DS%#:?O:;<%67;68?=?CP%=>?%=8H?%?EE?6=D%=>?8?7E%:;%=>?%
Q8?D?;=%63D?R%=>?%3I7H;=%E78E?:=?9%67;D=:=H=?D%7;CP%0k%7E%=>?%
D=:QHC3=?9%Q8:6?R%O>:6>%:D%;7=%?Z6?DD:F?%:E%67;D:9?8?9%3D%=>?%Q87!%=%
O7HC9%>3F?%L??;%7L=3:;?9%>39%=>?%67;=836=%L??;%67IQC:?9%O:=>S%
*>?8?%:DR%I78?7F?8R%?F:9?;6?%=>3=%=>?%9?E?;93;=D%>39%=7%8?W?6=%
3;7=>?8%Q87Q7D:=:7;%=7%LHP%=>?%D3I?%Q87Q?8=PS%5=%3;P%83=?R%=>?%
Q?;3C%6C3HD?%97?D%3O3P%O:=>%=>?%9H=P%=7%Q87F?%=>?%?Z:D=?;6?%3;9%
I?3DH8?%7E%=>?%93I3<?D%63HD?9%LP%=>?%L8?36>S__
&
&
&
K#T8%"&#*6&G)*$@&0(&#"2&12&!7
O/&FPE=C@&/0$)"9(%)*&)*
V)(%)*&+)4&/0')*$%604#(%)*
&
%
H8[WDG%*>?%Q87I:DD78P%;7=?%D:<;?9%LP%=>?%L7887O?8%D=3=?D%
=>3=%=>?%C73;%7E%,MJRU1U%D>3CC%L?38%:;=?8?D=%3=%=>?%83=?%7E%/dk%
!$#% ,(("0R% 3;9% DHLW?6=% =7% Q?;3C=P% 6>38<?D% ?XH:F3C?;=% =7% Jk%
Q?8%I7;=>%7E%3;P%3I7H;=%9H?%3;9%H;Q3:9S%*>:D%O7HC9%P:?C9%3;%
:;=?8?D=%7E%,]Rd0dS1U%!$#%,(("0%78%3%=7=3C%7E%,MNRKKdS/U%E87I%
-7F?IL?8%JJR%/d]0%=7%.?Q=?IL?8%/JR%/d0MR%=>?%93=?%7E%!%C:;<%=>?%
67IQC3:;=S
%
%
`EOIG%,?;3C=P%:;=?8?D=%7E%/k%3%I7;=>%78%/Jk%!$#%,(("0%
:D% 8?3D7;3LC?% D7% =>3=% E87I% '?6?IL?8% /JR% /d0U% =7% .?Q=?IL?8%
/JR% /d0MR% Q?;3C=P% 6>38<?D% D>7HC9% L?% ,/dRJUJS0KS% !7;D:9?8:;<%
KJ0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJN
=>3=%=>?%L7887O?8D%>3F?%Q3:9%=>?%3I7H;=%7E%,N0RN]NS]1R%=>?P%
=>?8?E78?% 7O?9% =>?% L3;^% =>?% 3I7H;=% 7E% ,K0Rd/1S/0% O>?;% =>?%
67IQC3:;=%O3D%!%C?9S%*>?8?%:D%;7%:;9:63=:7;%:;%=>?%8?6789D%3D%=7%
=>?%"%H6=H3=:7;%7E%36=H3C%:;=?8?D=%83=?D%E87I%/d0M%3;9R%=>?8?E78?R%
=>?%!7H8=%789?8D%:;=?8?D=%3=%=>?%C?<3C%83=?%7E%/Jk%!$#%,(("0%7;%
=>?%H;Q3:9%3I7H;=S
%
%
*>?%:IQ7D:=:7;%7E%/Jk%QH8DH3;=%=7%!?;=83C%b3;^%[b3;<^7%
.?;=83C\%!:86HC38%M/N%2Q3DD?9%QH8DH3;=%=7%=>?%3H=>78:=P%<83;=?9%
=7%=>?%!?;=83C%b3;^%2b3;<^7%.?;=83C4%LP%,8?D:9?;=:3C%'?68??%//N%
O>:6>%3I?;9?9%56=%JN11R%7=>?8O:D?%^;7O;%3D%=>?%iDH8P%$3OR%
:D%3QQC:63LC?%7;CP%:;%=>?%E7CC7O:;<G%2/4%C73;De%2J4%E78L?383;6?%7E%
3;P%I7;?PR%<779D%78%68?9:=e%3;9%2K4%83=?%3CC7O?9%:;%WH9<I?;=D%
2WH9<I?;=D% DQ7^?;% 7E% 8?E?8% =7% WH9<I?;=D% :;F7CF:;<% C73;D% 78%
E78L?383;6?%7E%3;P%I7;?PR%<779D%78%68?9:=D4S
&
&
!)9*(4Q&N#*T04$&3*$94#*'0&!)482&12&!7
O/&E=C<C@&G082&CC@&CDDC
%
%
H8[WDG%$?DD78%#?;=3;:CC3%3;9%$?DD??%.PR%?;=?8?9%:;=7%3%
C?3D?%3<8??I?;=%7F?8%3%=>?3=?8S%*>?%C?3D?%O3D%E78%D:Z%P?38DS%5E=?8%
I78?%=>3;%=O7%P?38D%7E%=>?%7Q?83=:7;%7E%=>?%=>?3=?8DR%#?;=3;:CC3%
I39?% 9?I3;9D% E78% =>?% 8?Q7DD?DD:7;% 7E% =>?% C?3D?9% Q87Q?8=:?D%
:;% F:?O% 7E% .P_D% 388?38D% :;% I7;=>CP% 8?;=3CD% 3;9% ;7;VQ3PI?;=%
7E% 3IHD?I?;=% =3Z?DS% ";% QH8DH3;6?% 7E% =>?:8% C3==?8% 3<8??I?;=R%
.P_D%388?38D%:;%8?;=3C%:;%=>?%3I7H;=%7E%,/J1RMM1%O3D%8?9H6?9%
=7% ,]/RUJ0S% +7O?F?8R% =>?% 3668H?9% 3IHD?I?;=% =3Z% C:3L:C:=P% 7E%
=>?%=>8??%=>?3=?8D%=7%=>?%!:=P%h7F?8;I?;=%>39%366HIHC3=?9%=7%
,0MRUUU%9?DQ:=?%=>?%E36=%=>3=%.P%>39%L??;%9?9H6=:;<%=>?%3I7H;=%
7E%,MRUUU%E87I%>:D%I7;=>CP%8?;=3C%O:=>%=>?%7LC:<3=:7;%=7%8?I:=%
=>?% D3:9% 9?9H6=:7;D% =7% =>?% 6:=P% <7F?8;I?;=S% +?;6?R% C?==?8D% 7E%
9?I3;9% O?8?% D?;=% =7% .P% 9?I3;9:;<% Q3PI?;=% 7E% =>?% 388?38D%
:;%8?;=3CD%3;9%3IHD?I?;=%=3Z%9?C:;XH?;6PS%c>?;%.P%E3:C?9%=7%
Q3P%=>?%3I7H;=D%:;%EHCCR%9?DQ:=?%9?I3;9DR%#?;=3;:CC3%Q39C76^?9%
=>?%<3=?D%7E%=>?%=>8??%=>?3=?8D%H;9?8%C?3D?%3;9%=77^%Q7DD?DD:7;%
=>?8?7ES%.P%!%C?9%3;%36=:7;%E78%8?E78I3=:7;%3;9%:;WH;6=:7;S%bP%
F:8=H?%7E%=>?%:;WH;6=:7;R%.P%8?<3:;?9%Q7DD?DD:7;%7E%=>?%=>?3=?8S%
*>?%=8:3C%67H8=%>?C9%=>3=%.P%:D%;7=%?;=:=C?9%=7%8?E78I3=:7;S%&;%
=>?%67H;=?86C3:IR%=>?%67H8=%E7H;9%=>3=%#?;=3;:CC3%O3D%9?Q8:F?9%
7E%=>?%?;W7PI?;=%7E%=>?%C?3D?9%Q8?I:D?D%3;9%DHEE?8?9%93I3<?D%
3D%3%8?DHC=%7E%=>?%!%C:;<%7E%=>?%63D?%LP%.P%3;9%>:D%F:7C3=:7;%7E%=>?%
KJd
%
58=S%/JJN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=?8ID%3;9%67;9:=:7;D%7E%=>?%3<8??I?;=S%"=%>?C9%=>3=%#?;=3;:CC3%
:D%?;=:=C?9%=7%8?67F?8%=>?%93I3<?D%:;%399:=:7;%=7%=>?%388?38D%:;%
8?;=3CD%3;9%3IHD?I?;=%=3Z%9?C:;XH?;6P%7E%.P%3;9%=>?%3668H?9%
:;=?8?D=%=>?8?7;S%"=%E7H;9%=>3=%3D%7E%=>?%?;9%7E%-7FS%/d0UR%O>?;%
#?;=3;:CC3%8?<3:;?9%Q7DD?DD:7;%7E%=>?%=>8??%=>?3=?8DR%.P_D%H;Q3:9%
8?;=3CD% 3;9% 3IHD?I?;=% =3Z% C:3L:C:=P% 3I7H;=?9% =7% ,J0dR1KMS%
";%399:=:7;R%:=%>?C9%.P%H;9?8%7LC:<3=:7;%=7%Q3P%,/URUUU%?F?8P%
I7;=>%E87I%)?LS%=7%-7FS%/d0U%78%=>?%=7=3C%3I7H;=%7E%,/UURUUU%
O:=>%:;=?8?D=%7;%?36>%3I7H;=%7E%,/URUUU%E87I%=>?%=:I?%=>?%D3I?%
L?63I?%9H?S%*>HDR%,/URUUU%Q78=:7;%7E%=>?%I7;=>CP%C?3D?%8?;=3C%
O3D%DHQQ7D?9%=7%67I?%E87I%=>?%8?I3:;:;<%63D>%9?Q7D:=%7E%.P%
LH=%O:=>%=>?%67;D?XH?;=%E78E?:=H8?%7E%=>?%8?I3:;:;<%63D>%9?Q7D:=%
7E%,JdURUUUR%=>?8?%O3D%;7%I78?%63D>%9?Q7D:=%E87I%O>:6>%D3:9%
3I7H;=%67HC9%L?%9?9H6=?9%EH8=>?8S%"=%39WH9<?9%.P%=7%Q3P%3==78V
;?P_D%E??D%?XH:F3C?;=%=7%/Uk%7E%=>?%3I7H;=D%3L7F?VI?;=:7;?9S
%
%
):;3CCPR%=>?%67H8=%>?C9%.P%=>8H%=>?%:;WH;6=:7;%L7;9%C:3LC?%=7%
Q3P%,/URUUU%?F?8P%I7;=>%E87I%)?LS%=7%-7FS%/d0US%*>?%3I7H;=%
8?Q8?D?;=D% =>?% DHQQ7D?9% :;68?3D?% :;% 8?;=3C% E87I% ,1URUUU% =7%
,NURUUU%:;%F:?O%7E%=>?%7EE?8%7E%D7I?7;?%=7%C?3D?%=>?%=>8??%=>?3=V
?8D%:;F7CF?9%E78%,NURUUU%3%I7;=>S%*>?%!7H8=%7E%5QQ?3CD%2!54%
DHD=3:;?9%=>?%=8:3C%67H8=S
%
%
`EOIG%*>?%.HQ8?I?%!7H8=%3E!%8I?9%=>?%!5_D%9?6:D:7;%3;9%
>?C9%=>3=%:;3DIH6>%3D%=>?%E78E?:=H8?%6C3HD?%Q87F:9?D%=>3=%=>?%
9?Q7D:=%D>3CC%L?%9??I?9%E78E?:=?9R%O:=>7H=%Q8?WH9:6?%=7%3;P%7=>?8%
7LC:<3=:7;% D=:CC% 7O:;<% LP% =>?% C?DD??% =7% =>?% C?DD78R% =>?% Q?;3C=P%
63;;7=%DHLD=:=H=?%E78%=>?%,/UURUUU%DHQQ7D?9%93I3<?%8?DHC=:;<%
E87I%=>?%:DDH3;6?%7E%=>?%:;WH;6=:7;%3<3:;D=%=>?%,JdRUUU%8?I3:;V
:;<%63D>%9?Q7D:=S%*>:D%DHQQ7D?9%93I3<?%DHEE?8?9%LP%&#(!%O3D%
=>?%3CC?<?9%,/URUUU%3%I7;=>%:;68?3D?%:;%8?;=3C%2E87I%,1URUUU%
=7%,NURUUU4R%O>:6>%&#(!%E3:C?9%=7%8?3C:T?%E78%=?;%I7;=>D%E87I%
)?LS%=7%-7FS%/d0U%:;%=>?%=7=3C%DHI%7E%,/UURUUUS%*>:D%7QQ78=H;:=P%
67D=%O>:6>%O3D%9HCP%Q87F?;%L?E78?%=>?%=8:3C%67H8=R%O3D%6788?6=CP%
I39?%6>38<?3LC?%LP%=>?%D3:9%67H8=%3<3:;D=%=>?%:;WH;6=:7;%L7;9%
Q7D=?9%LP%!".!&S%*>?%H;9?8=3^:;<%3DDHI?9%LP%!".!&%H;9?8%
DHLW?6=%:;WH;6=:7;%8?E?8D%=7%`3CC%DH6>%93I3<?D%3D%DH6>%Q38=P%I3P%
DHD=3:;%LP%8?3D7;%7E%=>?%:;WH;6=:7;%:E%=>?%!7H8=%D>7HC9%!%;3CCP%
9?6:9?%=>3=%=>?%,C3:;=:EE%O3D%;7=%?;=:=C?9%=>?8?=7Sa%*>?%!5%678V
8?6=CP%DHD=3:;?9%=>?%=8:3C%67H8=%:;%>7C9:;<%=>3=%=>?%L7;9%D>3CC%
KKU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJN
3;9%I3P%3;DO?8%7;CP%E78%93I3<?D%O>:6>%&#(!%I3P%DHEE?8%3D%
3%8?DHC=%7E%=>?%:;WH;6=:7;S%*>?%388?38D%:;%8?;=3CR%=>?%H;8?I:=V
=?9%3I7H;=D%7E%=>?%3IHD?I?;=%=3Z%9?C:;XH?;6PR%=>?%3I7H;=%7E%
,/UURUUU%2,/URUUU%Q78=:7;D%7E%?36>%I7;=>CP%8?;=3C%O>:6>%O?8?%
;7=%9?9H6=?9%E87I%QC3:;=:EE_D%63D>%9?Q7D:=%E87I%)?LS%=7%-7FS%/d0U%
3E=?8%=>?%E78E?:=H8?%7E%D3:9%63D>%9?Q7D:=%7;%)?LS%//R%/d0U4%3;9%
3==78;?P_D%E??D%O>:6>%O?8?%3CC%6>38<?9%3<3:;D=%.P%O?8?%6788?6=%
3;9%67;D:9?8?9%LP%=>?%!5%3D%93I3<?D%O>:6>%&#(!%DHD=3:;?9%
;7=%3D%3%8?DHC=%7E%=>?%:;WH;6=:7;S
XDY& ,-"%.#(%)*$&R%(S&#&H0*#"&!"#9$0&L%$(%*.9%$S06&+4)5&J`;
#58"0$&+4)5&(S0&b#'9"(#(%10&#*6&(S0&7"(04*#(%10&,-"%.#;
(%)*$
234% S6-*J,+*'(4%.*+/%,%!$(,-%&-,"4$
%
%
EF,0!-$G%hC78:3%:D%7LC:<?9%=7%<:F?%I?%3%9:3I7;9%8:;<S%
"E%D>?%E3:CD%=7%97%D7R%D>?%IHD=%<:F?%,]UURUUUS
%
2VSWEG%&89:;38:CPR%hC78:3%63;;7=%?Z6HD?%>?8D?CE%E87I%=>?%
9H=P%7E%<:F:;<%I?%=>?%8:;<%LP%D:IQCP%Q3P:;<%,]UURUUUS%)78%
>?8%=7%DHLD=:=H=?%=>?%Q?;3C=PR%D>?%IHD=%L?%$F!#$44-5%<:F?;%
=>?%8:<>=%=7%97%D7S4
2L4% H,&"-+,+*1$%'6-*J,+*'(
%
%
EF,0!-$G% hC78:3% :D% 7LC:<?9% =7% <:F?% I?% 3% Q38=:6HC38%
9:3I7;9%8:;<S%+7O?F?8R%*2%4/$%4'%)$4*#$4=%D>?%I3P%:;D=?39%
<:F?%I?%,]UURUUUS
%
%
2VSWEG%+?8?R%hC78:3%:D%6C?38CP%3;9%?ZQ8?DDCP%3CC7O?9%
=7%I3^?%=>?%DHLD=:=H=:7;S%"E%=>?%8:;<%:D%C7D=%LP%3%E78=H:=7HD%
?F?;=R% D>?% :D% $F&"4$)% E87I% <:F:;<% I?% =>?% DHLD=:=H=?% 7E%
,]UURUUUR% E78% :;9??9% =>?% Q8:;6:Q3C% 7LC:<3=:7;% >3D% L??;%
?Z=:;<H:D>?9S4
264%
8-+$#(,+*1$%'6-*J,+*'(
%
%
EF,0!-$G%hC78:3%:D%7LC:<?9%=7%<:F?%I?%$*+/$#%3%Q38=:6HV
C38%9:3I7;9%8:;<%78%,]UURUUUS
%
%
2VSWEG%+?8?R%=>?%6>7:6?%<:F?;%=7%hC78:3%:D%3LD7CH=?S%
"ER%>7O?F?8R%=>?%8:;<%:D%C7D=%LP%3%E78=H:=7HD%?F?;=R%D>?%:D%
4+*--%7LC:<?9%=7%<:F?%I?%=>?%,]UURUUUS4
KK/
%
58=S%/JJ]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
74(2& C??P2& MS0& 60-()4& '#**)(& 0`058(& S%5$0"+& +4)5& (S0&
804+)45#*'0& )+& (S0& )-"%.#(%)*& -Q& 8#Q%*.& (S0& 80*#"(Q@& $#10&
%*&(S0&'#$0&RS040&(S%$&4%.S(&S#$&-00*&0`840$$"Q&40$04106&+)4&
S%52&K0%(S04&'#*&(S0&'406%()4&605#*6&(S0&+9"!&""50*(&)+&(S0&
)-"%.#(%)*&#*6&(S0&$#(%$+#'(%)*&)+&(S0&80*#"(Q&#(&(S0&$#50&(%50@&
9*"0$$&(S%$&4%.S(&S#$&-00*&'"0#4"Q&.4#*(06&S%52&\)R0104@&%+&
#+(04&(S0&'406%()4&S#$&60'%606&()&40_9%40&(S0&+9"!&""50*(&)+&(S0&
)-"%.#(%)*@&(S0&804+)45#*'0&(S040)+&$S)9"6&-0')50&%58)$$%-"0&
R%(S)9(&S%$&+#9"(@&(S0&80*#"(Q&5#Q&-0&0*+)4'062
!,VVJKMW
XCY& O0*04#""Q@& L0-()4& !#**)(& G9-$(%(9(0& H0*#"(Q& +)4& (S0&
H4%*'%8#"&,-"%.#(%)*
&
%
*>?%<?;?83C%8HC?%:D%=>3=%=>?%9?L=78%:D%('+%3CC7O?9%=7%WHD=%
Q3P%=>?%Q?;3C=P%:;D=?39%7E%EHC!%CC:;<%=>?%7LC:<3=:7;S%+?%63;%7;CP%
97%D7%:E%=>?%8:<>=%>3D%L??;%(q,@(..$B%8?D?8F?9S%*>?%8?3D7;%
:D%=>3=%:E%>?%63;%WHD=%Q3PR%EHC!%CCI?;=%7E%=>?%7LC:<3=:7;%O:CC%L?%
67;D:9?8?9%3;%3C=?8;3=:F?%7;?S%*>?%O789%(q,@(..$B%I?3;D%
=>3=%3;P%:IQC:?9%8?D?8F3=:7;%:D%('+%3CC7O?9S
X?Y& J`#58"0
!
%
8% Q87I:D?D% =7% !%;:D>% 3% 6?8=3:;% Q:?6?% 7E% O78^% O:=>:;% D:Z%
I7;=>DS%*>?%67;=836=%D=:QHC3=?D%=>3=%:;%63D?%>?%97?D%;7=%LH:C9%
=>?%>7HD?%3=%3CCR%>?%:D%DHQQ7D?9%=7%E78E?:=%=>?%DHI%7E%,/RUUURUUUS%
";%=>:D%63D?R%3D%3%<?;?83C%8HC?%=>?%67;=836=78%63;;7=%WHD=%<:F?%
=>?%DHI%7E%,/RUUURUUU%3D%3%DHLD=:=H=?%E78%>:D%;7;VQ?8E78I3;6?%
7E%=>?%7LC:<3=:7;S%"=%IHD=%L?%8?I?IL?8?9%=>3=%3D%3%<?;?83C%8HC?R%
=>?8?E78?R% =>?% Q?;3C% 6C3HD?% :D% ;7=% DHQQ7D?9% =7% DHLD=:=H=?% =>?%
Q?8E78I3;6?%7E%=>?%Q8:;6:Q3C%7LC:<3=:7;S%+?%I3PR%>7O?F?8R%L?%
?ZQ8?DDCP%<83;=?9%LP%=>?%68?9:=78%=>?%8:<>=%=7%8?E83:;%E87I%=>?%
?Z?6H=:7;%7E%=>?%67;=836=%LP%3%E78E?:=H8?%7E%=>?%Q?;3C=PS
&
&
!9%&12&G9*&!S#*
FC&HS%"2&=?B
&
%
H8[WDG%5%C?DD??%8?;=?9%Q87Q?8=P%E87I%3%C?DD78S%*>?%67;V
=836=%7E%C?3D?%67;=3:;?9%3%D=:QHC3=:7;%=7%=>?%?EE?6=%=>3=%=>?%C?DV
D??%D>7HC9%;7=%I3^?%3;P%67;D=8H6=:7;%7;%=>?%Q87Q?8=P%O:=>7H=%
KKJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJ]
=>?%Q?8I:DD:7;%7E%=>?%C?DD78R%3;9%=>3=%D>7HC9%=>?%C?DD??%97%D7%
O:=>7H=%=>?%Q?8I:DD:7;%7E%=>?%C?DD78%D3:9%:IQ87F?I?;=D%O7HC9%
:;H8?%=7%=>?%L?;?!%=%7E%=>?%?D=3=?%2C?DD784%3;9%=>?%C?DD??R%:;%DH6>%
3%63D?R%O7HC9%;7=%>3F?%3;P%8:<>=%=7%3D^%E78%3;P%8?:ILH8D?I?;=%
E78%=>?%67D=%7E%=>?%67;D=8H6=:7;S%*>?%C?DD??%I39?%D7I?%:IQ87F?V
I?;=D%O:=>7H=%=>?%67;D?;=%7E%=>?%C?DD78S%-7OR%=>?%C?DD78%O3;=D%
=7%?F:6=%=>?%C?DD??%E78%=>?%F:7C3=:7;%7E%=>?%67;9:=:7;D%7E%=>?%C?3D?S%
*>?%C?DD??R%7;%=>?%7=>?8%>3;9R%D3:9%=>3=%>?%D>7HC9%;7=%L?%7HD=?9%
L?63HD?%>?%O3D%8?39P%=7%E78E?:=%=>?%:IQ87F?I?;=D%:;%E3F78%7E%
=>?%C?DD78_D%?D=3=?S%R44"$G%"D%=>?%E36=%=>3=%=>?%C?DD??%:D%8?39P%=7%
E78E?:=%=>?%:IQ87F?I?;=%7;%=>?%?D=3=?%DHE!%6:?;=%=7%Q8?F?;=%>:D%
L?:;<%7HD=?9%E87I%=>?%Q8?I:D?Df
%
%
`EOIG%(F?;%:E%=>?%C?DD??%:D%8?39P%=7%E78E?:=%=>?%:IQ87F?V
I?;=D%7;%=>?%?D=3=?R%>?%I3P%D=:CC%L?%7HD=?9%E87I%=>?%Q8?I:D?D%
E78%>:D%>3F:;<%F:7C3=?9%=>?%67;9:=:7;%:IQ7D?9%HQ7;%>:IR%;3I?CPR%
;7=%=7%I3^?%3;P%DH6>%:IQ87F?I?;=D%O:=>7H=%=>?%Q?8I:DD:7;%7E%
=>?%C?DD78S%"=%:D%=8H?%=>3=%=>?%C?DD??%O3D%8?39P%=7%EHC!%CC%O>3=%
I3P%Q?8>3QD%L?%=?8I?9%3%Q?;3C=PR%LH=%=>:D%97?D%;7=%?Z6HD?%>:I%
E87I%67IQCP:;<%O:=>%=>?%Q8:;6:Q3C%7LC:<3=:7;%7E%;7=%I3^:;<%3;P%
:IQ87F?I?;=D%O:=>7H=%=>?%67;D?;=%7E%=>?%C?DD78S%"=%IHD=%L?%L78;?%
:;%I:;9%=>3=%3%9?L=78%2=>?%C?DD??4%63;;7=%?D63Q?%=>?%EHC!%CCI?;=%
7E%=>?%7LC:<3=:7;%LP%WHD=%Q3P:;<%=>?%Q?;3C=PR%H;C?DD%DH6>%8:<>=%
>3D%?ZQ8?DDCP%L??;%<83;=?9%>:IS%+?;6?R%?F?8P=>:;<%67;D:9?8?9R%
=>?%C?DD??%I3P%C3OEHCCP%L?%7HD=?9%E87I%=>?%Q8?I:D?DS
XBY& O0*04#""Q@& !406%()4& !#**)(& L05#*6& N)(S& b9"!&""50*(&
#*6&(S0&H0*#"(Q&#(&(S0&G#50&M%50
%
%
5D%3%<?;?83C%8HC?R%=>?%68?9:=78%97?D%('+%>3F?%=>:D%8:<>=%=7%
9?I3;9%EHC!%CCI?;=%7E%=>?%7LC:<3=:7;%3;9%=>?%Q?;3C=P%3=%=>?%D3I?%
=:I?S%*>?%?Z6?Q=:7;%38:D?D%O>?;%DH6>%3%8:<>=%>3D%L??;%!$(5@$B%
<83;=?9%=7%>:IS
%
%
cVSWEG% ";% [,6,##'J"*4=% $+% ,-9% 19% d*&$(+$=% OA:@PU@=% T,#9%
QP=% :>;U=% =>?% .HQ8?I?% !7H8=% >?C9% =>3=% :;% 7LC:<3=:7;D% E78% =>?%
Q3PI?;=%7E%3%DHI%7E%I7;?PR%O>?;%3%Q?;3C=P%:D%D=:QHC3=?9%E78%
9?E3HC=R%b&*+%=>?%Q8:;6:Q3C%7LC:<3=:7;%,()%=>?%Q?;3C=P%63;%L?%
9?I3;9?9%LP%=>?%68?9:=78%7N'1$#(0$(+%19%O*0=%$+%,-9=%;:%K/*-9%
CPC%,()%O"($+,%T'+'#%['9%19%T'#,=%CP%K/*-9%<U?R%O:=>%:;=?8?D=%
7;%=>?%3I7H;=%7E%=>?%Q?;3C=P%E87I%=>?%93=?%7E%9?I3;9R%?:=>?8%
WH9:6:3C%78%?Z=83WH9:6:3CSe
KKK
%
58=S%/JJ]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
e%(9.&L%5#(9"#'&12&!)4)*0"
F>&HS%"2&<E<
&
%
H8[WDG%8%D7C9%8?3C%Q87Q?8=P%=7%Z%O:=>%=>?%8:<>=%7E%8?QH8V
6>3D?S%"=%O3D%3<8??9%:;%=>?%67;=836=%=>3=%D>7HC9%8%O>7%O3D%76V
6HQP:;<%=>?%Q87Q?8=P%:;%=>?%I?3;=:I?%3D%C?DD??%9?E3HC=%:;%=>?%
Q3PI?;=%7E%8?;=3CD%7;%=>?%Q87Q?8=PR%=>?%8:<>=%=7%8?9??I%O7HC9%
L?%?Z=:;<H:D>?9S%*>?%93P%63I?%O>?8?%=>?8?%O3D%DH6>%3%9?E3HC=S%
Z% =77^% Q7DD?DD:7;% 7E% =>?% Q87Q?8=PR% 6C3:I:;<% =>3=% >?8% 8:<>=% 3D%
=>?%;?O%7O;?8%7E%=>?%Q87Q?8=P%>39%3C8?39P%L??;%67;D7C:93=?9%
:;%>?8D?CE%L?63HD?%=>?%D?CC?8%9:9%;7=%>3F?%3;PI78?%=>?%8:<>=%=7%
8?QH86>3D?%=>?%Q87Q?8=PS%.>?%?;=?8?9%:;=7%3%67IQ87I:D?%O:=>%8%
8?<389:;<%=>?%Q3D=%8?;=3CDS%Z%;7O%L8:;<D%=>:D%36=:7;%=7%8?67F?8%
=>?% EH=H8?% 8?;=3CDR% I?3;:;<% =>?% 8?;=3CD% =>3=% D>7HC9% >3F?% 36V
68H?9%E87I%=>?%I7I?;=%Z%=77^%Q7DD?DD:7;%7E%=>?%Q87Q?8=P%H;=:C%
=>?%=:I?%78:<:;3CCP%D=:QHC3=?9%HQ7;%E78%=>?%8?9?IQ=:7;%7E%=>?%
Q87Q?8=PS% R44"$G% "D% Z% 3CC7O?9% =7% =3^?% 7F?8% =>?% Q87Q?8=PR% =>HD%
67;D7C:93=:;<%=>?%7O;?8D>:Q%:;%>?8R%3;9%3=%=>?%D3I?%=:I?%3D^%
E78%EH=H8?%8?;=3CDf
%
%
`EOIG%-7S%Z%:D%;7=%3CC7O?9%=7%>3F?%L7=>%8?I?9:?DS%*>?%
Q87F:D:7;%:;%=>?%67;=836=%?Z=:;<H:D>:;<%=>?%8:<>=%7E%8?9?IQ=:7;%
HQ7;%=>?%9?E3HC=%7E%=>?%Q3PI?;=%7E%=>?%8?;=3CD%:D%:;%=>?%;3=H8?%
7E%3%Q?;3C=P%6C3HD?S%566789:;<%=7%=>?%C3OR%=>?%<?;?83C%8HC?%:D%=>3=%
=>?%68?9:=78%63;;7=%9?I3;9%L7=>%=>?%Q?8E78I3;6?%7E%=>?%Q8:;6:Q3C%
7LC:<3=:7;%3;9%=>?%E78E?:=H8?%7E%=>?%Q?;3C=P%H;C?DD%DH6>%8:<>=%
>3D%L??;%6C?38CP%<83;=?9%=7%D3:9%68?9:=78S%";%=>:D%63D?%;7%DH6>%
8:<>=%O3D%<83;=?9S%"=%E7CC7ODR%=>?8?E78?R%=>3=%=>?%68?9:=78%67HC9%
;7=%9?I3;9%L7=>%DQ?6:!%6%Q?8E78I3;6?%3;9%=>?%E78E?:=H8?%7E%=>?%
Q?;3C=PS%*>?%36=:7;%7E%=>?%68?9:=78%Z%:;%=3^:;<%Q7DD?DD:7;%7E%=>?%
Q87Q?8=P%EHCCP%D>7OD%=>3=%D>?%O3D%?3<?8%=7%:IQ7D?%=>?%Q?;3C=P%
D=:QHC3=?9%HQ7;%=>?%67;=836=S%.>?R%=>?8?E78?R%>3D%;7%I78?%8:<>=%
=7%:;D:D=%7;%=>?%Q3PI?;=%7E%=>?%EH=H8?%8?;=3CDS%5D%3%I3==?8%7E%
E36=R% D>?% >39% ;7% 8:<>=% ?F?;% =7% =>?% Q3D=% 8?;=3CDR% LH=% ?F:9?;=CP%
=>?%9?L=78%>39%3C8?39P%O3:F?9%=>:D%LP%F:8=H?%7E%=>?%67IQ87I:D?%
3<8??9%HQ7;%L?=O??;%8%3;9%Z%3D%8?<389%=>?%Q3D=%8?;=3CDS
&
&
K#1#44)&12&V#""#4%
F=&HS%"2&?F?
&
%
H8[WDG%*>?%9?E?;93;=%O3D%7LC:<?9%=7%67;D=8H6=%3%6>3Q?C%
E78%=>?%QC3:;=:EE%E78%,/NRUUUS%&E%=>:D%3I7H;=R%,/JRUUU%>3D%3C8?39P%
KKM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJ0
L??;%Q3:9%3;9%7;CP%,MRUUU%8?I3:;D%=7%L?%Q3:9S%*>?%67;=836=%638V
8:?9%3%Q?;3C%6C3HD?%=7%=>?%?EE?6=%=>3=%:;%63D?%7E%;7;V67IQC:3;6?%
O:=>%=>?%7LC:<3=:7;R%=>?%9?E?;93;=%O7HC9%>3F?%=7%Q3P%3%Q?;3C=P%
7E%,MRUUUS%"=%O3D%Q87F?9%3=%=>?%=8:3C%=>3=%=>?%9?E?;93;=%9:9%;7=%
67;D=8H6=%=>?%6>3Q?C%F?8P%O?CC%Y%9:9%;7=%67;D=8H6=%:=%366789:;<%
=7% =>?% DQ?6:!%63=:7;D% 7E% =>?% 67;=836=S% +?;6?R% -3F3887% L87H<>=%
=>:D% 36=:7;% =7% 8?67F?8% ,MRUUU% E87I% A3CC38:R% =>?% 9?E?;93;=R% 3D%
Q?;3C=PS% &;% >:D% Q38=R% -3F3887% 8?EHD?9% =7% Q3P% =>?% L3C3;6?% 7E%
,MRUUU%O>:6>%>?%D=:CC%7O?9%=>?%9?E?;93;=S%";%7=>?8%O789DR%=>?%
QC3:;=:EE%-3F3887%O3;=?9G
234% =7%<?=%,MRUUU%E87I%A3CC38:%3D%Q?;3C=Pe%3;9
2L4% ;7=% =7% Q3P% 3;PI78?% >:D% 2-3F3887_D4% H;Q3:9% L3C3;6?% 7E%
,MRUUUS%
%
%
RDD_EG%"D%-3F3887%C3OEHCCP%?;=:=C?9%;7=%=7%Q3P%>:D%8?I3:;V
:;<%9?L=%3;9%3=%=>?%D3I?%=:I?%3D^%E78%=>?%Q?;3C=Pf
%
%
`EOIG%-3F3887%:D%8?3CCP%?;=:=C?9%=7%=>?%Q?;3C=P%L?63HD?%7E%
=>?%Q778%67;D=8H6=:7;%7E%=>?%6>3Q?C%LH=%D:;6?%>?%D=:CC%7O?D%,MRUUUR%
O>3=%>?%63;%<?=%67IQ?;D3=?D%E78%O>3=%>?%D=:CC%>3D%=7%<:F?S%+?;6?R%
-3F3887%63;;7=%8?3CCP%<?=%3;P=>:;<S%+:D%9?L=%67IQ?;D3=?D%E78%
>:D%68?9:=S
&
74(2&C??E2&H4))+&)+&#'(9#"&6#5#.0$&$9++0406&-Q&(S0&'406%()4&
%$&*)(&*0'0$$#4Q&%*&)4604&(S#(&(S0&80*#"(Q&5#Q&-0&605#*6;
062
!,VVJKMW
XCY& K)&K0'0$$%(Q&)+&H4)1%*.&7'(9#"&L#5#.0$
%
%
*>:D%58=:6C?%:D%3%;?O%Q87F:D:7;%7E%=>?%-?O%!:F:C%!79?S%*>?%
Q?;3C=P%I3PR%:;%=>?%Q87Q?8%63D?R%L?%9?I3;9?9%O:=>7H=%=>?%;?V
6?DD:=P%7E%Q87F:;<%36=H3C%93I3<?DS
X?Y& /0#$)*
&
%
c>?;%3%Q?;3C%6C3HD?%>3D%L??;%3<8??9%HQ7;%:;%3%67;=836=R%
I78?%3D%3%QH;:D>I?;=%E78%=>?%:;E836=:7;%=>?8?7E%=>3;%3%I?8?%
D?6H8:=PR%:=%:D%3%C3OEHC%I?3;D%E78%8?Q3:8:;<%C7DD?D%3;9%93I3<?DR%
3;9%HQ7;%?F:9?;6?%7E%=>?%F:7C3=:7;%7E%=>?%67;9:=:7;D%D=:QHC3=?9R%
=>?%:;WH8?9%Q38=P%:D%;7=%7LC:<?9%=7%Q87F?%C7DD?D%3;9%93I3<?D%DHEV
KK1
%
58=S%/JJd
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
E?8?9R%;78%=>?%?Z=?;=%7E%=>?%D3I?%:;%789?8%=7%9?I3;9%=>?%?;E786?V
I?;=%7E%=>?%Q?;3C%6C3HD?%3<8??9%HQ7;S%7K,-,&*'4%19%T"(*&*!,-*+5%
'2%[,1*+$=%:Q%K/*-9%:@U?9
&
&
:#5-04(&12&b)`
?<&HS%"2&=EE
%
%
H8[WDG%8%O3D%7LC:<?9%H;9?8%3%67;=836=%O:=>%ZR%;7=%=7%D?CC%
D>38?D%7E%D=76^%E78%7;?%P?38S%5%Q?;3C%6C3HD?%O3D%Q87F:9?9S%bH=%
8%D7C9%D>38?D%7E%D=76^%O:=>:;%=>?%Q?8:79%DQ?6:!%?9%LH=%93I3<?D%
O?8?%;7=%Q87F?9%LP%Z%=7%>3F?%L??;%DHEE?8?9%LP%>:I%7Z?S%R44"$G%
A3P%Z%8?67F?8%=>?%Q?;3C=Pf
%
%
`EOIG%B?DR%Z%I3P%C3OEHCCP%8?67F?8%=>?%Q?;3C=PS%`";%=>:D%
WH8:D9:6=:7;%67;=836=D%38?%?;E786?9%3D%=>?P%38?%8?39R%3;9%Q38V
=:?D%O>7%38?%67IQ?=?;=%=7%67;=836=%I3P%I3^?%DH6>%3<8??I?;=D%
O:=>:;%=>?%C:I:=3=:7;D%7E%=>?%C3O%3;9%QHLC:6%Q7C:6P%3D%=>?P%9?D:8?R%
3;9% =>?% 67H8=D% O:CC% ?;E786?% =>?I% 366789:;<% =7% =>?:8% =?8IDS% 5%
Q?;3C=P%:IQ7D?9%E78%=>?%L8?36>%7E%3%67;=836=%;7=%=7%D?CC%D>38?D%
7E%D=76^%E78%7;?%P?38%O:CC%L?%?;E786?9%:E%=>?%3<8??I?;=%:D%L87^?;R%
;7%I3==?8%O>?=>?8%=>?%Q?8D7;%D??^:;<%=7%?;E786?%=>?%Q?;3C=P%>3D%
DHEE?8?9%93I3<?D%78%;7=Sa
%
&
74(2&C??D2&MS0&U96.0&$S#""&0_9%(#-"Q&4069'0&(S0&80*#"(Q&
RS0*&(S0&84%*'%8#"&)-"%.#(%)*&S#$&-00*&8#4("Q&)4&%440.9"#4"Q&
')58"%06&R%(S&-Q&(S0&60-()42&J10*&%+&(S040&S#$&-00*&*)&804;
+)45#*'0@&(S0&80*#"(Q&5#Q&#"$)&-0&4069'06&-Q&(S0&')94($&%+&%(&
%$&%*%_9%()9$&)4&9*')*$'%)*#-"02
!,VVJKMW
XCY& ZS0*&H0*#"(Q&V#Q&N0&/069'06&-Q&(S0&!)94(
234% c>?;%=>?%7LC:<3=:7;%>3D%L??;%Q38=CP%67IQC:?9%O:=>%LP%=>?%
9?L=78S% 7K,#+*,-% K$#2'#0,(&$?% 7D$$% T,L,+*% I$1$-'!0$(+%
['#!9%19%E0!*#$%R(4"#,(&$%['9=%OAQ:C<U=%Y"(9%PU=%:>;C?9
2L4% c>?;%=>?%7LC:<3=:7;%>3D%L??;%:88?<HC38CP%67IQC:?9%O:=>%
LP%=>?%9?L=78S%7R##$J"-,#%K$#2'#0,(&$?9
264%
c>?;%=>?%Q?;3C=P%:D%:;:XH:=7HD%78%H;67;D6:7;3LC?R%?F?;%:E%
=>?8?%>3D%L??;%;7%Q?8E78I3;6?%3=%3CCS%7_(&'(4&*'(,6-$%'#%
R(*a"*+'"4?9
KKN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JJd
X?Y& J`#58"0$
234% 8%Q87I:D?D%=7%9?C:F?8%=7%Z%/UU%L7==C?D%7E%O:;?%7;%3%6?8=3:;%
93P%O>?;%3%L3;XH?=%O:CC%L?%>?C9S%*>?%67;=836=%D=3=?D%=>3=%
E3:CH8?%7E%8%=7%97%D7%7;%=>3=%93P%O:CC%8?DHC=%:;%3%E78E?:=H8?%
7E%,/UURUUUS%&;%=>3=%93PR%8%O3D%3LC?%=7%9?C:F?8%7;CP%dU%7E%
=>?%/UU%L7==C?D%Q87I:D?9S%"=%:D%H;E3:8%;7O%E78%Z%=7%?Z36=%=>?%
Q3PI?;=%7E%=>?%EHCC%3I7H;=%7E%/UU%L?63HD?%>?8?R%=>?8?%>3D%
L??;%Q38=:3C%78%:88?<HC38%Q?8E78I3;6?R%3;9%Z%>3D%:;%D7I?%
O3P%L??;%3C8?39P%L?;?!%=?9%LP%=>?%<:F:;<%7E%=>?%dU%L7==C?D%
7E%O:;?S
2L4% *>?%9?E?;93;=D%O?8?%3LC?%=7%8?=H8;%7;CP%1%7E%=>?%JU%8:"%?D%
=3^?;% LP% =>?I% LP% F:8=H?% 7E% =>?:8% C:6?;D?DS% *>?% 67;=836=%
67;=3:;?9%3%Q?;3C=P%6C3HD?%78%3%Q?;3C%L7;9%O>:6>%O3D%DHQV
Q7D?9%=7%3;DO?8%E78%('(A)$-*1$#5S%.>7HC9%=>?%Q?;3C%6C3HD?%
L?%8?9H6?9f
%
8VD9G%B?DR%=>?%Q?;3C%L7;9%D>7HC9%L?%8?9H6?9%78%I:=:<3=?9%
:;%F:?O%7E%=>?%Q38=:3C%Q?8E78I3;6?S%7R(4"-,#%N'1\+9%19%K"(A
k,-,(=%C%K/*-9%B@;?9
264%
.HQQ7D:;<%:;%=>?%3L7F?VI?;=:7;?9%Q87LC?IR%=>?%9?E?;93;=D%
9:9%;7=%>?CQ%3=%3CC%:;%=>?%8?67F?8P%7E%=>?%8:"%?DR%38?%=>?P%D=:CC%
?;=:=C?9%=7%3%I:=:<3=:7;%7E%=>?%Q?;3C%L7;9f
%
8VD9G% B?DS% c>?;% D7I?% 7E% =>?% C7D=% 38ID% 38?% 3E=?8O389D%
8?67F?8?9R% 3C=>7H<>% =>?% Q?8D7;D% 8?DQ7;D:LC?% E78% =>?:8%
D3E?^??Q:;<%9:9%;7=%3DD:D=%:;%=>?:8%8?67F?8PR%=>?%C:3L:C:=P%
H;9?8%=>?%L7;9%D>3CC%L?%Q87Q78=:7;3=?CP%8?9H6?9S%7R(4"-,#%
N'1$#(0$(+%19%80$&/,k"##,=%$+%,-9=%:U%K/*-9%;PC?9
XBY& !#$0$
&
&
!S9#&O9%&G0*.&12&O0*04#"&G#"0$&G988"Q&!)2@&3*'2
DC&HS%"2&C=B
&
%
H8[WDG% ,C3:;=:EE% C?3D?9% =7% 9?E?;93;=% >:D% Q8?I:D?D% E78% 3%
Q?8:79% 7E% =>8??% P?38DS% "=% O3D% 3CD7% 3<8??9% =>3=% :;% 399:=:7;R% :;%
789?8%=7%<H383;=??%Q?8E78I3;6?R%3%9?Q7D:=%7E%,/RUUU%O7HC9%L?%
I39?R%D3:9%,KRUUU%=7%L?%3QQC:?9%=7%=>?%I7;=>CP%8?;=D%7E%,1UU%E78%
=>?%-,4+%4*F%I7;=>D%2=>3=%:DR%E78%=>?%/D=%J%P?38D%3;9%N%I7;=>DR%
,1UU% O7HC9% L?% 67CC?6=?9% I7;=>CPe% LH=% E78% =>?% 8?I3:;:;<% D:Z%
KK]
%
58=S%/JJd
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
I7;=>DR%;7%I78?%8?;=%O7HC9%L?%67CC?6=?9%:;%F:?O%7E%=>?%,KRUUU%
3C8?39P%9?Q7D:=?94S%*>?8?%O3D%3CD7%3%D=:QHC3=:7;%=>3=%:;%63D?%7E%
('(A&'0!-$+*'(%7E%=>?%=?8I%7E%=>8??%P?38DR%=>?%,KRUUU%O7HC9%L?%
E78E?:=?9S%*>?%=?;3;=%=>?;%E3:=>EHCCP%Q3:9%E78%=>?%!%8D=%7;?%3;9%
7;?V>3CE%P?38DR%LH=%O3D%('+%3LC?%=7%Q3P%E78%J%I7;=>DS%,C3:;=:EE%
;7O%O87=?%3%C?==?8%=7%=>?%9?E?;93;=R%3D^:;<G
234% =>3=%=>?%=?8ID%7E%=>?%67;=836=%L?%?;E786?9R%O:=>%=>?%,KRUUU%
L?:;<%E78E?:=?9e
2L4% LH=%D=3=:;<%=>3=%:E%=>?%L36^%8?;=3CD%2E78%J%I7;=>D4%O7HC9%
L?%Q3:9%O:=>:;%/1%93PDR%=>?%9?Q7D:=%7E%,KRUUU%O7HC9%;7=%L?%
E78E?:=?9S
%
%
iQ7;% 8?6?:F:;<% =>?% C?==?8% 7E% 9?I3;9R% =>?% 9?E?;93;=% -$2+%
=>?%Q8?I:D?D%O:=>7H=%Q3P:;<%=>?%J%I7;=>D%8?;=3CR%7;%=>?%L?C:?E%
=>3=%=>:D%67HC9%L?%6>38<?9%=7%=>?%,KRUUU%9?Q7D:=S%R44"$G%.>7HC9%
=>?%?;=:8?%,KRUUU%L?%E78E?:=?9f
%
%
`EOIG%-7R%:=%:D%;7=%Q87Q?8%=>3=%=>?%?;=:8?%,KRUUU%L?%E78V
E?:=?9%E78R%3E=?8%3CCR%=>?%C?3D?%>39%3C8?39P%?Z:D=?9%E78%I78?%=>3;%
>3CE% 7E% =>?% Q?8:79% D=:QHC3=?9S% +3CE% 7E% ,KRUUU% I3PR% >7O?F?8R%
L?%E78E?:=?9S%"=%:D%H;WHD=%E78%=>?%O>7C?%3I7H;=%=7%L?%E78E?:=?9%
67;D:9?8:;<R%3D:9?%E87I%=>?%!,#+*,-%!$#2'#0,(&$=%=>?%E7CC7O:;<%
E36=78DG
234% *>?%C3;9C789%67HC9%C77^%E78%3;7=>?8%=?;3;=%3E=?8%=>?%/1V93P%
Q?8:79%7E%<836?S
2L4% *>?% =?;3;=% 9:9% ;7=% C?3F?% :;% L39% E3:=>R% E78% :=% >7;?D=CP%
=>7H<>=R%E87I%=>?%C?==?8%7E%9?I3;9R%=>3=%:=%O3D%3CC%8:<>=%=7%
C?3F?R%O:=>%=>?%J%I7;=>D%8?;=%L?:;<%I?8?CP%9?9H6=?9%E87I%
=>?%,KRUUUS
&
&
g9")&12&H0
:;C>><C@&7842&??@&CD=P
%%
%
H8[WDG%5%LH:C9:;<%O3D%C?3D?9R%O:=>%3;%39F3;6?%Q3PI?;=%
7E% ,NRUUUS% "=% O3D% Q87F:9?9% :;% =>?% 67;=836=% =>3=% :E% =>?% =?;3;=%
9?E3HC=D%:;%=>?%Q3PI?;=%7E%=>?%I7;=>CP%8?;=R%=>?%67;=836=%O:CC%
L?% 3H=7I3=:63CCP% 63;6?CC?9R% 3;9% `3=% =>?% D3I?% =:I?R% 3% 8:<>=% 7E%
&'(!%4&,+*'(%:D%<83;=?9%=>?%C?DD78%7E%=>?%C?DD??_D%39F3;6?%Q3PI?;=%
3D%93I3<?DSa%R44"$G%"D%=>?%D=:QHC3=:7;%F3C:9f
KK0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%/JJd
%
`EOIG%*>?%D=:QHC3=:7;%:D%3%Q?;3C=P%6C3HD?R%3;9%?F?;%:E%:;V
:XH:=7HD%78%H;67;D6:7;3LC?R%:;%3%D?;D?R%:=%:D%;7=%F7:9R%LH=%DHLW?6=%
I?8?CP%=7%?XH:=3LC?%8?9H6=:7;S%A78?7F?8R%=>?%3I7H;=%=>3=%63;%
L?% 8?67F?8?9% :D% ;7=% C:I:=?9% I?8?CP% =7% 36=H3C% 78% 67IQ?;D3=78P%
93I3<?DS
&
&
I5#"%&12&V%'"#(
:;D?<?@&A9"2&C>@&CD=D
234% "E%=>?%Q?;3C=P%6C3HD?%:D%H;8?3D7;3LC?R%3D%O>?;%:=%Q87F:9?9%
E78%3%DH86>38<?%7E%/Uk%?F?8P%KU%93PD%:;%63D?%7E%E3:CH8?%=7%
EHC!%CC% =>?% 7LC:<3=:7;R% ?XH:=P% 9?I3;9D% =>3=% =>?% D3I?% L?%
@('i!('%:;%E3:8;?DD%=7%=>?%7LC:<78S%5%DH86>38<?%7E%JUk%
!$#%,(("0%O7HC9R%>7O?F?8R%L?%8?3D7;3LC?S
2L4% "E%:;%399:=:7;%=7%=>?%DH86>38<?%3D%Q?;3C=PR%=>?%67;=836=%,-4'%
!#'1*)$4%=>3=%93I3<?D%I3P%L?%8?67F?8?9R%D3:9%D=:QHC3=:7;%
3D%=7%93I3<?D%O7HC9%L?%,--%#*J/+R%3;9%D>7HC9%L?%67IQH=?9%
7;%=>?%L3D:D%7E%Nk%Q?8%3;;HIR%=>?%7LC:<3=:7;%L?:;<%I7;V
?=38P%:;%6>3836=?8S%58=S%/JJN%?ZQ8?DDCP%3CC7OD%3%D=:QHC3=:7;%
3D%=7%93I3<?DR%:;%399:=:7;%=7%=>?%Q?;3C=PS
&
&
/0Q0$&12&e%96#&Q&\%U)$&60&b)45)$)
X!272Y&F<&,2O2&K)2&=<?C
%
%
5% E78=H:=7HD% ?F?;=% I:C:=3=?D% 3<3:;D=% =>?% ?;E786?I?;=% 7E%
3%Q?;3C=P%6C3HD?%3<3:;D=%=>?%-$44'#%3;9%3<3:;D=%=>?%-$44$$S%)78%
?Z3IQC?R% =>?% 9:6=3=78:3C% 36=D% 7E% =>?% g3Q3;?D?% 38IP% :;% =3^:;<%
7F?8%3%C?3D?9%LH:C9:;<%9H8:;<%=>?%g3Q3;?D?%766HQ3=:7;S%)87I%
3;7=>?8%F:?OQ7:;=R%:E%L7=>%Q38=:?D%67II:==?9%3%L8?36>%7E%3%8?V
6:Q8763C%7LC:<3=:7;R%:=%:D%6C?38%=>3=%=>?%Q?;3C=P%6C3HD?%63;;7=%L?%
?;E786?9S
%
%
cVSWEG%"=%:D%=>HD%6C?38%=>3=%3%Q?;3C%6C3HD?%63;;7=%L?%?;V
E786?9%:EG
234% =>?%L8?36>%:D%=>?%E3HC=%7E%=>?%68?9:=78%7WD=%I$&9%:>=%:<>:?h
2L4% 78%3%E78=H:=7HD%?F?;=%:;=?8F?;?9R%"(-$44%=>?%9?L=78%?ZQ8?DDCP%
3<8??9%7;%>:D%C:3L:C:=P%:;%63D?%7E%E78=H:=7HD%?F?;=D%2O>?8?%
>?%36=D%3D%`:;DH8?8a4%7D$$%WD=%I$&9%:B=%:>Q;?h
264%
=>?%9?L=78%:D%;7=%P?=%:;%9?E3HC=S%7WD=%T,5%Q:=%:>U@?9e
KKd
%
58=S%/JKU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
&
&
!)5504'%#"&!406%(&!)482&)+&!#.#Q#*
60&,4)&12&!7&#*6&(S0&!#.#Q#*
60&,4)&!)"%$095@&3*'2
O/&PEBC=@&A#*2&?@&CDED
%
%
58=S%/JJd%7E%=>?%!:F:C%!79?%3QQC:?D%7;CP%=7%3;%7LC:<3V
=:7;%78%67;=836=R%DHLW?6=%7E%3%C:=:<3=:7;R%=>?%67;9:=:7;%L?:;<%
=>3=%=>?%D3I?%>3D%L??;%Q38=CP%78%:88?<HC38CP%67IQC:?9%O:=>%
LP%=>?%9?L=78S%.3:9%!#'1*4'%3CD7%3QQC:?D%?F?;%:E%=>?8?%>3D%
L??;%;7%Q?8E78I3;6?R%3D%C7;<%3D%=>?%Q?;3C=P%:D%:;:XH:=7HD%
78%H;67;D6:7;3LC?S%"=%63;;7=%3QQCP%=7%3%!%;3C%3;9%?Z?6H=78P%
WH9<I?;=S
%
%
c>?;%=>?%Q38=:?D%?;=?8?9%:;=7%=>?%67IQ87I:D?%3<8??V
I?;=%3;9%DHLI:==?9%=>?%D3I?%E78%=>?%3QQ87F3C%7E%=>?%=8:3C%
67H8=R% :=D% =?8ID% 3;9% 67;9:=:7;D% IHD=% L?% =>?% Q8:I789:3C%
67;D:9?83=:7;%O>P%=>?%Q38=:?D%F7CH;=38:CP%?;=?8?9%:;=7%=>?%
D3I?S%*>?%=8:3C%67H8=%3QQ87F?9%:=%L?63HD?%:=%:D%C3OEHCR%3;9%
:D%;7=%3<3:;D=%QHLC:6%Q7C:6P%78%I783CDS%(F?;%=>?%8?DQ7;9?;=%
!7H8=%7E%5QQ?3CD%HQ>?C9%=>?%F3C:9:=P%7E%=>?%D3:9%67IQ87I:D?%
3<8??I?;=S%+?;6?R%=>?%8?DQ7;9?;=%67H8=%>3D%;7%3H=>78:=P%
=7%8?9H6?%=>?%Q?;3C=P%3;9%3==78;?P_D%E??D%=>?8?:;%D=:QHC3=?9%
O>:6>%:D%=>?%C3O%L?=O??;%=>?%Q38=:?D%3;9%:D%#$4%3")*&,+,S
&
&
3*$9"#4&N#*T&)+&7$%#&#*6&7504%'#&12&G#"#a#4
O/&E?>E?@&V#42&?=@&CDEE
%
%
*>?%!:F:C%!79?%Q?8I:=D%=>?%3<8??I?;=%HQ7;%3%Q?;3C=P%
3Q38=% E87I% =>?% :;=?8?D=S% .>7HC9% =>?8?% L?% DH6>% 3;% 3<8??V
I?;=R% =>?% Q?;3C=P% 97?D% ;7=% :;6CH9?% =>?% :;=?8?D=R% 3;9% 3D%
DH6>%=>?%=O7%38?%9:EE?8?;=%3;9%9:D=:;6=%=>:;<D%O>:6>%I3P%
L?%9?I3;9?9%D?Q383=?CPS%*>?%D=:QHC3=:7;%3L7H=%Q3PI?;=%
7E%DH6>%399:=:7;3C%83=?%Q38=3^?D%7E%=>?%;3=H8?%7E%3%Q?;3C=P%
6C3HD?R%O>:6>%:D%D3;6=:7;?9%LP%C3OS
&
74(2&C?B>2&MS0&*9""%(Q&)+&(S0&80*#"&'"#9$0&6)0$&*)(&'#44Q&
R%(S&%(&(S#(&)+&(S0&84%*'%8#"&)-"%.#(%)*2
&
MS0&*9""%(Q&)+&(S0&84%*'%8#"&)-"%.#(%)*&'#44%0$&R%(S&%(&(S#(&
)+&(S0&80*#"&'"#9$02&
KMU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JKU
!,VVJKMW
XCY& J++0'(&)+&K9""%(Q&)+&(S0&H0*#"(Q&!"#9$0
%
%
"E%=>?%Q8:;6:Q3C%7LC:<3=:7;%:D%;HCC%3;9%F7:9R%=>?%Q?;3C%6C3HD?%
O:CC%>3F?%;7%I78?%HD?%E78%?Z:D=?;6?%3;9%:D%=>?8?E78?%3CD7%67;V
D:9?8?9%;HCC%3;9%F7:9S%iQ7;%=>?%7=>?8%>3;9R%WHD=%L?63HD?%=>?%
Q?;3C%6C3HD?%:D%;7=%F3C:9R%:=%97?D%;7=%I?3;%=>3=%:=D%;HCC:=P%O:CC%
3CD7%I3^?%=>?%Q8:;6:Q3C%7LC:<3=:7;%;HCC%3;9%F7:9S%X$,4'(G%*>?%
Q8:;6:Q3C%7LC:<3=:7;%63;%D=3;9%3C7;?R%3;9%=>?%F7:9%Q?;3C%6C3HD?%
O:CC%WHD=%L?%9:D8?<389?9S
X?Y& J`#58"0$
234% 8%:D%7LC:<?9%=7%<:F?%Z%3%Q36^%7E%D>3LHS%*>?8?%:D%3%Q?;3C%6C3HD?%
8?<389:;<%=>?%E78E?:=H8?%7E%,1UURUUU%:;%63D?%7E%;7;V67IQC:3;6?%
7E%=>?%7LC:<3=:7;S%+?8?R%=>?%DHLW?6=%I3==?8%:D%7H=D:9?%=>?%67IV
I?86?%7E%I3;S%*>?%Q?;3C=P%6C3HD?%>?8?R%3C=>7H<>%:;%:=D?CE%F3C:9R%
O:CC%3CD7%L?%67;D:9?8?9%;HCC%3;9%F7:9%L?63HD?%`=>?%;HCC:=P%7E%=>?%
Q8:;6:Q3C%7LC:<3=:7;%6388:?D%O:=>%:=%=>3=%7E%=>?%Q?;3C%6C3HD?Sa%78#+9%
:QPU=%Q()%!,#,J#,!/=%[*1*-%[')$?9
2L4% 8%:D%7LC:<?9%=7%67;D=8H6=%3%>7HD?%E78%Z%O:=>:;%N%I7;=>DS%*>?%
67;=836=%Q87F:9?D%E78%3%Q?;3C=P%6C3HD?%:;%63D?%8%:D%;7=%3LC?%=7%
Q?8E78I%>:D%7LC:<3=:7;%O:=>:;%=>?%D=:QHC3=?9%Q?8:79S%*>?%Q?;3C%
6C3HD?%67;D:D=D%7E%=>?%<:F:;<%LP%8%+'%Z%'2%4$1$#,-%+*(4%'2%'!*"09%
`$#$%+/$%!$(,-+5%&-,"4$%*4%("--%,()%1'*)%6$&,"4$%'!*"0%*4%'"+A
4*)$%+/$%&'00$#&$%'2%0,(9%Z"+%+/$%!#*(&*!,-%'6-*J,+*'(=%+/,+%'2%
&'(4+#"&+*(J% +/$% /'"4$=% #$0,*(4% 1,-*)9% W/$% !$(,-% &-,"4$% .*--%
6$%)*4#$J,#)$)9%W/$%-,.%!#'1*)$4%+/,+%i+/$%("--*+5%'2%+/$%!$(,-%
&-,"4$%)'$4%('+%&,##5%.*+/%*+%+/,+%'2%+/$%!#*(&*!,-%'6-*J,+*'(9j%
78#+9%:QPU=%!,#9%:=%[*1*-%[')$?9
KM/
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!"#$%&'(8
-90+/6:+2;<-/0(3,(345+670+3/
6-/-.75(=.3>+2+3/2
&
74(2&C?BC2&,-"%.#(%)*$&#40&0`(%*.9%$S06W
&
XCY& NQ&8#Q50*(&)4&804+)45#*'0h
&
X?Y& NQ&(S0&")$$&)+&(S0&(S%*.&690h
&
XBY& NQ&(S0&')*6)*#(%)*&)4&405%$$%)*&)+&(S0&60-(h
&
XFY& NQ&(S0&')*+9$%)*&)4&504.04&)+&(S0&4%.S($&)+&'406%()4&
#*6&60-()4h
&
X=Y& NQ&')580*$#(%)*h
&
X<Y& NQ&*)1#(%)*2
&
,(S04&'#9$0$&)+&0`(%*.9%$S50*(&)+&)-"%.#(%)*$@&$9'S&#$&
#**9"50*(@&40$'%$$%)*@&+9"!&""50*(&)+&#&40$)"9()4Q&')*6%(%)*@&
#*6&840$'4%8(%)*@&#40&.)104*06&0"$0RS040&%*&(S%$&!)602
!,VVJKMW
XCY& !"#$$%!&'#(%)*&-Q&!7GM7K&)+&!#9$0$&)+&J`(%*.9%$S50*(&
)+&,-"%.#(%)*$
234% #7CH;=38Pe%3;9
2L4% ";F7CH;=38P
d'-"(+,#5%[,"4$4G
234% ,?8E78I3;6?
/4%
Q3PI?;=%78%Q?8E78I3;6?
J4%
67;D:<;3=:7;
KMJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JK/
2L4% .HLD=:=H=:7;%7E%Q?8E78I3;6?
264%
/4%
67IQ?;D3=:7;
J4%
;7F3=:7;
K4%
),&*'(%$(%!,J'%7),+*'%*(%4'-"+"0?
5<8??I?;=%=7%8?C?3D?
/4%
J4%
4"64$a"$(+%+'%'6-*J,+*'(G
34%
H;:C3=?83C%O3:F?8
L4%
;3=H83C%O3:F?8
64%
8?I:DD:7;
94%
IH=H3C%9:DD?;=%7)*4$(4'?
?4%
67IQ87I:D?
4*0"-+,($'"4%.*+/%&#$,+*'(%'2%'6-*J,+*'(G
34%
8?D7CH=78P%=?8I%78%?Z=:;6=:F?%Q?8:79
L4%
8?D7CH=78P%67;9:=:7;%78%67;9:=:7;%DHLD?XH?;=
R(1'-"(+,#5%[,"4$4G
234% bP%E3:CH8?%=7%L8:;<%3;%36=:7;
%
EF,0!-$G% Q8?D68:Q=:7;% 7E% =>?% 8:<>=% 7E% 36=:7;% 2.=3=H=?% 7E%
C:I:=3=:7;D4
2L4% @?D7CH=78P%67;9:=:7;%78%67;9:=:7;%DHLD?XH?;=
264%
EF,0!-$4G% /4%
I?8<?8%78%67;EHD:7;
%
J4%
:;%Q?8D7;3C%7LC:<3=:7;D%Y%LP%=>?%9?3=>%7E%
3%Q38=P
%
K4%
6>3;<?%7E%6:F:C%D=3=HD%2:;%7LC:<3=:7;D%L?V
63HD?%7E%E3I:CP%8?C3=:7;D4
bP%8?3D7;%7E%=>?%7LW?6=
EF,0!-$4G% /4%
"IQ7DD:L:C:=P%7E%Q?8E78I3;6?
&
$7DD%7E%=>?%=>:;<%9H?
J4%
X?Y& !"#$$%!&'#(%)*&7'')46%*.&()&(S0&!%1%"&!)60
234% &89:;38:CP%LP
KMK
%
58=S%/JK/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
/4%
Q3PI?;=%78%Q?8E78I3;6?
J4%
C7DD%7E%=>?%=>:;<%9H?
K4%
67;97;3=:7;%78%8?I:DD:7;%7E%=>?%9?L=%78%O3:F?8
M4%
67;EHD:7;% 78% I?8<?8% 7E% =>?% 8:<>=D% 7E% 68?9:=78% 3;9%
9?L=78
14%
67IQ?;D3=:7;
N4%
;7F3=:7;%78#+9%:QP:=%[*1*-%[')$?
2L4% &=>?8%63HD?D%I?;=:7;?9%:;%58=S%/JK/%7E%=>?%!:F:C%!79?%LH=%
<7F?8;?9%H;9?8%'+/$#%[/,!+$#4%7E%=>?%!79?
264%
/4%
3;;HCI?;=
J4%
8?D6:DD:7;
K4%
EHC!%CCI?;=%7E%3%8?D7CH=78P%67;9:=:7;
M4%
Q8?D68:Q=:7;
D+*--%'+/$#%&,"4$4
/4%
9?3=>%7E%3%Q38=P%:;%63D?%=>?%7LC:<3=:7;%:D%3%Q?8D7;3C%
7;?%23D%O>?;%3%D:;<?8R%>:8?9%=7%Q?8E78I%3=%3%67;6?8=R%
9:?D%L?E78?%=>?%67;6?8=%L?<:;D4
J4%
#$4'-"+'#5%+$#0%Y%2>?8?%=>?%7LC:<3=:7;%6?3D?D%HQ7;%
=>?%388:F3C%7E%=>?%=?8I4
K4%
&/,(J$%'2%&*1*-%4+,+"4%Y%23D%O>?;%3%I388:?9%O7I3;%
L?67I?D%3%O:97OR%78%O>?;%3;%H;I388:?9%O7I3;%<?=D%
I388:?94
M4%
67IQ87I:D?D
14%
IH=H3C%9:DD?;=%23D%O>?;%L7=>%Q38=:?D%=7%3%67;=836=%
8?EHD?%=7%<7%3>?39%O:=>%=>?%67;=836=4
N4%
:IQ7DD:L:C:=P%7E%EHC!%CCI?;=
]4%
E78=H:=7HD%?F?;=
&
&
&
&
!)55%$$%)*04&)+&3*(04*#"&/010*90
12&Z%""%#5&A2&G9(04&f
(S0&!)94(&)+&M#`&7880#"$
:;?==B?@&b0-2&?E@&CD<D
&
%
H8[WDG%5%C:I:=?9%Q38=;?8D>:Q%;3I?9%`c:CC:3I%gS%.H=?8%
nA7867:;_%!7SR%$=9Sa%O3D%E78I?9%7;%.?Q=S%KUR%/dM]%LP%c:CC:3I%gS%
KMM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JK/
.H=?8%3D%<?;?83C%Q38=;?8%27;?%C:3LC?%?F?;%L?P7;9%>:D%67;=8:LHV
=:7;4R%3;9%gHC:3%.Q:8:<%3;9%hHD=3F%!38CD7;R%3D%C:I:=?9%Q38=;?8D%
2=>7D?%C:3LC?%7;CP%=7%=>?%?Z=?;=%7E%=>?:8%67;=8:LH=:7;D4S%";%/dM0R%
.H=?8%3;9%.Q:8:<%<7=%0,##*$)R%3;9%D7I?=:I?%C3=?8R%!38CD7;%D7C9%
>:D%D>38?%:;%=>?%Q38=;?8D>:Q%=7%.H=?8%3;9%>:D%O:E?S%R44"$G%':9%
=>?%I388:3<?%9:DD7CF?%78%QH=%3;%?;9%=7%=>?%Q38=;?8D>:Qf
%
%
`EOIG%-7R%=>?%I388:3<?%9:9%;7=%9:DD7CF?%=>?%Q38=;?8D>:QS%
c>:C?%DQ7HD?D%63;;7=%?;=?8%:;=7%3%"(*1$#4,-%Q38=;?8D>:QR%=>?P%
63;%?;=?8%:;=7%3%!,#+*&"-,#%Q38=;?8D>:Q%78%L?%I?IL?8D%=>?8?7ES%
*>?%67;=836=%O3D%('+R%=>?8?E78?R%?;9?9S
&
&
:#5-04()&M)44%U)$&12&!)94(&)+&7880#"$
:;F>BB<@&,'(2&?F@&CDP=
&
%
H8[WDG%";%/dNM%*788:W7D%QH86>3D?9%3%C7=%E87I%':3I;H3;S%
$3=?8%*788:W7D%C?38;?9%=>3=%:;%/dNd%':3I;H3;%D7C9%=>?%D3I?%
C7=%=7%'?%hH:3S%*788:W7D%:;:=:3=?9%3;%?D=3E3%67IQC3:;=%3<3:;D=%
=>?%D?CC?8R%O>7%O3D%67;F:6=?9S%'H8:;<%=>?%3QQ?3C%:;%=>?%!7H8=%
7E%5QQ?3CDR%=>?%366HD?9%':3I;H3;%9:?9S%+:D%C3OP?8%!%C?9%3%I7V
=:7;%=7%9:DI:DD%3CC?<:;<%=>3=%=>?%9?3=>%7E%>:D%6C:?;=R%Q8:78%=7%!%;3C%
WH9<I?;=R% ?Z=:;<H:D>?9% L7=>% =>?% Q?8D7;3C% 3;9% =>?% Q?6H;:38P%
Q?;3C=:?DS%R44"$G%"D%=>?%6:F:C%C:3L:C:=P%3CD7%?Z=:;<H:D>?9f
%
%
`EOIG%*>?%6:F:C%C:3L:C:=P%>?8?%:D%;7=%?Z=:;<H:D>?9R%L?63HD?%
*()$!$()$(+-5%7E%=>?%68:I:;3C%63D?R%=>?%366HD?9%O3D%6:F:CCP%C:3LC?%
=7%*788:W7DS%"E%3E=?8%8?6?:F:;<%=>?%QH86>3D?%Q8:6?%E87I%*788:W7DR%>?%
E3:C?9%=7%9?C:F?8%=>?%Q87Q?8=P%2?F?;%L?E78?%D?CC:;<%:=%3<3:;%=7%'?%
hH:34R%=>?8?%O7HC9%3D%P?=%L?%;7%?D=3E3R%LH=%=>?8?%:D%;7%XH?D=:7;%
7E%>:D%6:F:C%C:3L:C:=P%=>8H%3;%36=:7;%LP%*788:W7D%?:=>?8%E78%DQ?6:!%6%
Q?8E78I3;6?%QCHD%93I3<?D%78%8?D6:DD:7;%QCHD%93I3<?DS%'?3=>%
:D%;7=%3%F3C:9%63HD?%E78%=>?%?Z=:;<H:D>I?;=%7E%3%6:F:C%7LC:<3=:7;S%
+39%=>?%7;CP%L3D:D%L??;%=>?%67II:DD:7;%7E%?D=3E3R%:=%:D%6C?38%=>3=%
=>?% ?Z=:;<H:D>I?;=% 7E% =>?% 68:I:;3C% 8?DQ7;D:L:C:=P% O7HC9% 3CD7%
?Z=:;<H:D>%=>?%6:F:C%C:3L:C:=PR%Q87F:9?9%=>3=%9?3=>%67I?D%L?E78?%
!%;3C%WH9<I?;=S%)H8=>?8I78?R%H;9?8%58=DS%/dR%JUR%3;9%J/%7E%=>?%
!:F:C%!79?R%=>?%366HD?9%O7HC9%L?%6:F:CCP%C:3LC?%:;9?Q?;9?;=CP%7E%
=>?%68:I:;3C%C:3L:C:=P%E78%O>:6>%>?%63;%L?%>?C9%C:3LC?S%5;9%=>:D%
6:F:C% C:3L:C:=P% ?Z:D=D% 9?DQ:=?% 9?3=>% Q8:78% =7% !%;3C% WH9<I?;=% 7E%
67;F:6=:7;S
KM1
%
58=S%/JKJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
:#a#4)&12&G#.9*
PE&G!/7&C>>
&
%
*>?%9?3=>%7E%3%C3OP?8%8?;9?8D%I77=%3;9%3639?I:6%6>38<?D%
3<3:;D=%>:I%E78%H;?=>:63C%36=DS%
G0'(%)*&C
H7gVJKM&,/&HJ/b,/V7K!J
&
74(2&C?B?2&H#Q50*(&50#*$&*)(&)*"Q&(S0&60"%104Q&)+&5)*0Q&
-9(&#"$)&(S0&804+)45#*'0@&%*&#*Q&)(S04&5#**04@&)+&#*&)-"%.#;
(%)*2
!,VVJKMW
XCY& jH#Q50*(d&L0!&*06
&
%
,3PI?;=%:D%=>3=%I79?%7E%?Z=:;<H:D>:;<%7LC:<3=:7;D%O>:6>%
67;D:D=D%7EG
234% =>?%9?C:F?8P%7E%I7;?PR%78
2L4% =>?% Q?8E78I3;6?% :;% 3;P% 7=>?8% I3;;?8% 7E% 3;% 7LC:<3=:7;S%
2EF,0!-$G%8?;9:=:7;%7E%=>?%8?XH:8?9%D?8F:6?4S
X?Y& H40;J`%$(%*.&,-"%.#(%)*
%
%
5%Q?8D7;%Q3PD%3%!#$A$F*4+*(J%7LC:<3=:7;S%"E%;7%DH6>%7LC:<3V
=:7;%?Z:D=DR%D=8:6=CP%DQ?3^:;<%=>?8?%:D%;7%Q3PI?;=S
%
EF,0!-$G
%
%
8%O3D%<:F?;%=>?%7Q=:7;%=7%LHP%3%638%78%;7=R%O:=>:;%=>?%Q?V
8:79%7E%7;?%O??^S%+?8?R%8%>3D%;7%9H=P%=7%LHPS%bH=%:E%>?%9?6:9?D%
=7%LHPR%3;%7LC:<3=:7;%:D%68?3=?9%3;9%>?%IHD=%Q3PS%2.??%84+"#*,4%
[$(+#,-%19%K"#$%[,($%T'-,44$4%['9=%;U%K/*-9%QB>=%O>?8?%:=%O3D%
>?C9%=>3=%3%`Q3PI?;=a%I39?%L?63HD?%7E%3%8?D?8F?9%8:<>=%78%7QV
=:7;%78%Q8:F:C?<?%:D%;7=%<7F?8;?9%LP%58=DS%/JKJ%=7%/JNJR%L?63HD?%
DH6>%`Q3PI?;=a%63;;7=%L?%9?I3;9?9%LP%=>?%68?9:=78S4
XBY& 7''08(#*'0&-Q&!406%()4
&
%
)78%Q3PI?;=%=7%Q87Q?8CP%?Z:D=R%=>?%68?9:=78%>3D%=7%,&&$!+%
=>?% D3I?R%$F!#$44-5%78%*0!-*&*+-59% ,3PI?;=R% E78% F3C:9% 8?3D7;DR%
I3P%Q87Q?8CP%L?%8?W?6=?9S%7WD=%T,5%:<=%:>@P?9
KMN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JKK
XFY& J++0'(&)+&H#Q50*(&V#60&I*604&#&e)%6&A96.50*(
%
%
"E% =>?% WH9<I?;=% HQ7;% O>:6>% =>?% 3<<8:?F?9% Q38=P% I39?%
Q3PI?;=%:D%;HCC%3;9%F7:9R%=>?%!,50$(+%I39?%=>?8?H;9?8%:D%3CD7%
;HCC%3;9%F7:9S%7T,(*-,%D"#$+5%,()%H*)$-*+5%['9%19%O*0=%OA>P@P=%
I$&9%Q>=%:>B>?9
&
74(2&C?BB2&7&60-(&$S#""&*)(&-0&9*604$())6&()&S#10&-00*&8#%6&
9*"0$$&(S0&(S%*.&)4&$041%'0&%*&RS%'S&(S0&)-"%.#(%)*&')*$%$($&
S#$&-00*&')58"0(0"Q&60"%10406&)4&40*60406@&#$&(S0&'#$0&5#Q&
-02
!,VVJKMW
XCY& !)58"0(0*0$$&)+&H#Q50*(
&
%
@?XH:D:=?D%E78%3%F3C:9%Q3PI?;=%H;9?8%=>:D%58=:6C?G
234% *>?%F?8P%+/*(J%78%4$#1*&$%67;=?IQC3=?9%IHD=%L?%Q3:9S
2L4% )HC!%CCI?;=%IHD=%L?%67IQC?=?S%7X,0'4%19%O$)$40,=%:Q%K/*-9%
;B;?9
X?Y& \)R&H#Q50*(&)4&H04+)45#*'0&3$&V#60
234% "E% =>?% 9?L=% :D% 3% I7;?=38P% 7LC:<3=:7;R% LP% 9?C:F?8P% 7E% =>?%
I7;?PS% *>?% 3I7H;=% Q3:9% IHD=% L?% EHCCR% H;C?DD% 7E% 67H8D?%
7=>?8O:D?%D=:QHC3=?9%:;%=>?%67;=836=S
%
%
cVSWEG% *>?% =?8I% `:;9?L=?9;?DDa% >3D% L??;% 9?!%;?9%
3D%3;%H;67;9:=:7;3C%3;9%C?<3CCP%?;E786?3LC?%7LC:<3=:7;%E78%
=>?%Q3PI?;=%7E%I7;?PS%7['00*44*'($#%'2%R(+9%X$19%19%K#*$+'=%
OA:P>:Q=%D$!+9%PU=%:>;U?S%c:=>:;%=>3=%9?!%;:=:7;R%:=%:D%3QQ38V
?;=%=>3=%3%=3Z%I3P%L?%67;D:9?8?9%3D%3;%:;9?L=?9;?DDS%7D$$%
D,06#,('%19%['"#+%'2%W,F%8!!$,-4=%$+%,-9=%BP%S9N9%@<P>?9e
2L4% "E%=>?%9?L=%:D%=>?%9?C:F?8P%7E%3%=>:;<%78%=>:;<DR%LP%9?C:F?8P%
7E%=>?%=>:;<%78%=>:;<DS
264%
"E%=>?%9?L=%:D%=>?%97:;<%7E%3%Q?8D7;3C%H;9?8=3^:;<R%LP%=>?%
Q?8E78I3;6?%7E%D3:9%Q?8D7;3C%H;9?8=3^:;<S
294% "E%=>?%9?L=%:D%('+%)'*(J%7E%D7I?=>:;<R%LP%8?E83:;:;<%E87I%
97:;<%=>?%36=:7;S
KM]
%
58=S%/JKK
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
XBY& N9460*&)+&H4))+
234% 5;%3CC?<?9%68?9:=78%>3D%=>?%LH89?;%7E%D>7O:;<%=>3=%3%F3C:9%
9?L=%?Z:D=DS
2L4% &;6?%>?%97?D%=>:DR%=>?%9?L=78%>3D%=>?%LH89?;%7E%Q87F:;<%
=>3=% >?% >3D% Q3:9% =>?% D3I?S% 7O'!$k% 19% W,(% W*'&'=% <% K/*-9%
;>P?9% *>HDR% :E% 3% Q87I:DD78P% ;7=?% :D% D=:CC% :;% =>?% 68?9:=78_D%
Q7DD?DD:7;R% =>?% Q8?DHIQ=:7;% :D% =>3=% :=% >3D% ;7=% P?=% L??;%
Q3:9S%7Z,(+"J%19%)$-%X'4,#*'=%::%K/*-9%B::?9
XFY& V0#*$&)+&H4)1%*.&H#Q50*(
%
%
&;?%<779%Q877E%:D%=>?%Q8?D?;=3=:7;%7E%=>?%8?6?:Q=S%7W'#*6*'%
19%H'F=%P@%K/*-9%>:P?S%5%9?L=78%:D%WHD=:!%?9%:;%9?I3;9:;<%=>3=%3%
68?9:=78%:DDH?%3%8?6?:Q=%O>?;%=>?%9?L=%:D%Q3:9S%7WD=%Y,(9%B=%:>::h%
4$$%8#+9%:QB;=%[*1*-%[')$?9
&
&
A#1%04&12&N4%*#$
X!272Y&F>&,2O2&F(S&G9882&K)2&E@&82&?PD
&
%
H8[WDG% 8% L7887O?9% I7;?P% E87I% Z=% =>?% 9?L=% =7% L?% Q3:9%
:;% :;D=3CCI?;=DS% *>?8?% O?8?% D?F?83C% 8?6?:Q=DR% ?36>% 7E% O>:6>%
36^;7OC?9<?9%=>?%Q3PI?;=%7E%3%6?8=3:;%:;D=3CCI?;=S%Z%L87H<>=%
3;%36=:7;%3<3:;D=%8%E78%:;D=3CCI?;=D%;7=%67F?8?9%LP%8?6?:Q=DS%8\4%
9?E?;D?%O3D%=>3=%>?%>39%Q3:9%=>?%O>7C?%9?L=%LH=%=>3=%>?%67HC9%;7=%
D>7O%3CC%=>?%8?6?:Q=D%E78%3CC%=>?%:;D=3CCI?;=D%L?63HD?%=>?8?%O?8?%
:;D=3;6?D%O>?;%:;%>:D%9?3C:;<D%O:=>%=>?%68?9:=78R%;7%8?6?:Q=%O3D%
:DDH?9%:;%>:D%E3F78S%R44"$G%"D%8\4%=?D=:I7;P%DHE!%6:?;=%=7%?D=3LC:D>%
78%Q87F?%=>?%E36=%=>3=%=>?%O>7C?%9?L=%>39%L??;%Q3:9f
%
%
`EOIG% -7R% >:D% =?D=:I7;P% 97?D% ;7=% 67;D=:=H=?% DHE!%6:?;=%
Q877E% =>3=% =>?% ?;=:8?% 9?L=% >3D% L??;% Q3:9S% +:D% =?D=:I7;P% :D% :;%
E36=%:;67IQ3=:LC?%O:=>%=>?%HDH3C%Q876?9H8?%L?=O??;%>:I%3;9%Z=%
=>?%68?9:=78R%3D%?F:9?;6?9%LP%=>?%E36=%=>3=%:;%=>?:8%=83;D36=:7;DR%
8?6?:Q=D%O?8?%:DDH?9S
%
%
2VSWEG%"=%IHD=%L?%8?63CC?9%3=%=>:D%D=3<?R%>7O?F?8R%=>3=%%
3%8?6?:Q=%E78%3%-,+$#%*(4+,--0$(+%?D=3LC:D>?D%=>?%Q8?DHIQ=:7;%=>3=%
Q8:78%78%Q8?F:7HD%:;D=3CCI?;=D%>3F?%L??;%Q3:9%78%9:D6>38<?9S4
KM0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JKM
X=Y% ";% 3% "4"#5% 63D?R% :=% >3D% L??;% >?C9% =>3=% =>?% I?8?% E36=% =>3=% =>?%
:;=?8?D=% :D% HDH8:7HD% 97?D% ;7=% ;?6?DD38:CP% I?3;% =>3=% =>?% C73;%
:D%F7:9S%5E=?8%3CCR%=>?%C73;%:=D?CE%:D%=>?%!#*(&*!,-%67;=836=S%*>?%
D=:QHC3=:7;%8?<389:;<%:;=?8?D=%I3P%L?%8?<389?9%3D%0$#$-5%,&&$4A
4'#5S%*>?%Q8:;6:Q3C%7E%=>?%C73;%IHD=%D=:CC%L?%Q3:9R%7=>?8O:D?%:=%
8?I3:;D%H;Q3:9S
&
&
O9%&A)*.&f&!)2&12&/%104#&#*6&710""#4
F=&HS%"2&PPE
%
%
H8[WDG%@:F?83%L7887O?9%I7;?P%E87I%hH:%g7;<%3;9%!7S%
3=%3%HDH8:7HD%83=?R%D?6H8?9%LP%3%I78=<3<?S%c>?;%3D^?9%E78%Q3PV
I?;=R%>?%D3:9%=>3=%>:D%7LC:<3=:7;%>3D%L??;%?Z=:;<H:D>?9%L?63HD?%
=>?%67;=836=%:D%HDH8:7HDS%R44"$G%"D%>?%6788?6=f%"E%=>?%C?;9?8%;7O%
9?D:8?D%=7%E78?6C7D?R%I3P%>?%97%D7f
%
%
`EOIG%*>?%7LC:<3=:7;%=7%Q3P%=>?%Q8:;6:Q3C%23;9%=>?%C3OEHC%
:;=?8?D=4%>3D%;7=%L??;%?Z=:;<H:D>?9%3;9%:;%63D?%7E%;7;VQ3PI?;=%
=>?8?7ER%E78?6C7DH8?%:D%Q87Q?8S
&
74(2& C?BF2& 3+& (S0& )-"%.#(%)*& S#$& -00*& $9-$(#*(%#""Q& 804;
+)4506&%*&.))6&+#%(S@&(S0&)-"%.)4&5#Q&40')104&#$&(S)9.S&(S040&
S#$&-00*&$(4%'(&#*6&')58"0(0&+9"!&""50*(@&"0$$&6#5#.0$&$9++0406&
-Q&(S0&)-"%.002
!,VVJKMW
&
G9-$(#*(%#"&H04+)45#*'0&%*&O))6&b#%(S
234% *>?%3L7F?%8HC?%78#+9%:QP@?%:D%397Q=?9%E87I%5I?8:63;%$3OS%
"=D%E3:8;?DD%:D%?F:9?;=S%";%63D?%7E%DHLD=3;=:3C%Q?8E78I3;6?R%
=>?%7LC:<??%:D%L?;?!%=?9S%.7%=>?%7LC:<78%D>7HC9%L?%3CC7O?9%
=7%8?67F?8%3D%:E%=>?8?%>39%L??;%3%D=8:6=%3;9%67IQC?=?%EHC!%CCV
I?;=R%C?DD%93I3<?D%DHEE?8?9%LP%=>?%7LC:<??S%*>:D%C3D=%67;V
9:=:7;%3EE789D%3%WHD=%67IQ?;D3=:7;%E78%=>?%8?C3=:F?%L8?36>%
67II:==?9%LP%=>?%7LC:<78S%7X$!'#+%'2%+/$%[')$%['00*44*'(=%
!9%:P:?9
2L4% "=%IHD=%L?%;7=?9%=>3=%=>?%C:3L:C:=P%7E%=>?%9?L=78%E78%93I3<?D%
DHEE?8?9%LP%=>?%68?9:=78%:;%63D?%7E%DHLD=3;=:3C%Q?8E78I3;6?%
97?D%;7=%38:D?%H;9?8%=>?%67;9:=:7;D%D?=%E78=>%:;%58=S%/JK1%
7E%=>?%!:F:C%!79?S
KMd
%
58=S%/JK1
264%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
";3DIH6>%3D%DHLD=3;=:3C%Q?8E78I3;6?%:;%<779%E3:=>%I3P%
3C8?39P% L?% ?XH:F3C?;=% =7% `EHC!%CCI?;=a% 78% `Q3PI?;=Ra% :=%
E7CC7OD%=>3=%=>?%8:<>=%=7%8?D6:;9%2I?;=:7;?9%:;%58=S%//d/4%
63;;7=% L?% HD?9% D:IQCP% L?63HD?% =>?8?% >3F?% L??;% DC:<>=%
L8?36>?D%7E%=>?%7LC:<3=:7;S%";%E36=R%DH6>%8:<>=%=7%8?D6:;9%:D%
('+%,64'-"+$R%3;9%=>?8?E78?%=>?%!7H8=%I3P%?F?;%<83;=R%3=%
:=D%9:D68?=:7;R%3%Q?8:79%=7%3%Q?8D7;%:;%9?E3HC=R%O:=>:;%O>:6>%
=>?%7LC:<3=:7;%63;%L?%EHC!%CC?9S%7D$$%N,6'5,%19%["*=%OA:>;:@=%
T,#9%QC=%:>C:?9
&
&
&
/)$0(0@&0(&#"2&12&H04)-04&L012&!)482
!7;O/&<C>B?;/
A9"2&BC@&CDEC
&
%
.HLD=3;=:3C% Q?8E78I3;6?% 78% 67IQC:3;6?% :DR% :;% 3% D?;D?R% 3%
Q?8E78I3;6?%366789:;<%=7%=>?%E3:8%:;=?;=%7E%=>?%67;=836=R%O:=>%
3;%3==?IQ=%:;%<779%E3:=>%=7%Q?8E78IS
%
%
)3:8%9?3C:;<%3;9%?XH:=P%9?I3;9%3%E3:=>EHC%67IQC:3;6?%7E%
7;?_D%67;=836=H3C%7LC:<3=:7;DS
&
74(2& C?B=2& ZS0*& (S0& )-"%.00& #''08($& (S0& 804+)45#*'0@&
T*)R%*.&%($&%*')58"0(0*0$$&)4&%440.9"#4%(Q@&#*6&R%(S)9(&0`;
840$$%*.&#*Q&84)(0$(&)4&)-U0'(%)*@&(S0&)-"%.#(%)*&%$&600506&
+9""Q&')58"%06&R%(S2
!,VVJKMW
XCY& J$()880"& )*& (S0& !406%()4d$& H#4(& %*& e%0R& )+& \%$& 7''08(;
#*'0
%
%
X$,4'(%2'#%+/$%8#+*&-$G%*>?%Q8?D?;6?%7E%c5"#(@%3;9%(.V
*&,,($S
X?Y& c9#"%!&06&7''08(#*'0
&
%
-7=?%=>3=%H;9?8%=>:D%58=:6C?R%=>?8?%:D%3%Q7DD:L:C:=P%=>3=%3%
!#'+$4+%78%'63$&+*'(%63;%L?%I39?S%+?;6?R%=>?8?%:D%O>3=%:D%63CC?9%
`a",-*!%$)%,&&$!+,(&$%7E%:;67IQC?=?%78%:88?<HC38%Q3PI?;=Sa%b?%
:=%8?I?IL?8?9%=>3=%3%68?9:=78%O>7%<:F?D%3%#$&$*!+%E78%3%Q38=:3C%
Q3PI?;=%97?D%;7=%;?6?DD38:CP%36XH:?D6?%=7%DH6>%:;67IQC?=?%Q3PV
I?;=S%+:D%36=H3=:7;D%I3P%D>7O%>:D%9:DD3=:DE36=:7;S%7E4J"$##,%
K1U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JKN
19% d*--,("$1,=% OAQP:>:=% I$&9% :>=% :>;C?9% *>HDR% 3% 68?9:=78% I3P%
67;9:=:7;3CCP%366?Q=%Q?8E78I3;6?%LP%=>?%9?L=78%,2+$#%=>?%=:I?%7E%
I3=H8:=PR%LH=%O:=>%=>?%D=:QHC3=:7;%=>3=%=>?%DH8?=P%78%=>?%<H38V
3;=78%7E%=>?%9?L=78%D>7HC9%<:F?%!&-.(-*S%*>:D%:D%=7%Q8?F?;=%
=>?%DH8?=P%78%<H383;=78%E87I%C3=?8%7;%3CC?<:;<%=>3=%=>?%68?9:=78%
>39%<:F?;%3;%?Z=?;D:7;%7E%=:I?%=7%=>?%9?L=78S%";%=>:D%O3PR%=>?%
DH8?=P%78%<H383;=78%&,(('+%6C3:I%=>3=%>?%>3D%L??;%8?C?3D?9%E87I%
=>?%7LC:<3=:7;S%7Y'$\4%E-$&+#*&,-%D"!!-5%19%8-+'%E-$&+#'(*&%['#!9=%
OA:QPC;=%8"J9%QQ=%:>B<?9
%
XBY& !#$0
&
&
!)*$(#*(0&75)4&60&!#$(4)&12&!7
O/&CC=EBE@&A9"2&CE@&?>>?
%
%
*>?%O789%`366?Q=Ra%3D%HD?9%:;%58=S%/JK1%7E%=>?%!:F:C%!79?R%
I?3;D%=7%=3^?%3%D3=:DE36=78P%78%DHE!%6:?;=R%78%3<8??%=7%3;%:;67IV
QC?=?%78%:88?<HC38%Q?8E78I3;6?S
%
%
";%=>?%63D?%3=%L38R%=>?%I?8?%8?6?:Q=%7E%3%Q38=:3C%Q3PI?;=%
:D%;7=%?XH:F3C?;=%=7%=>?%8?XH:8?9%366?Q=3;6?%7E%Q?8E78I3;6?%3D%
O7HC9%?Z=:;<H:D>%=>?%O>7C?%7LC:<3=:7;S
&
74(2&C?B<2&MS0&'406%()4&%$&*)(&-)9*6&()&#''08(&8#Q50*(&
)4&804+)45#*'0&-Q&#&(S%46&804$)*&RS)&S#$&*)&%*(040$(&%*&(S0&
+9"!&""50*(&)+&(S0&)-"%.#(%)*@&9*"0$$&(S040&%$&#&$(%89"#(%)*&()&
(S0&')*(4#4Q2
&
ZS)0104&8#Q$&+)4&#*)(S04&5#Q&605#*6&+4)5&(S0&60-()4&
RS#(&S0&S#$&8#%6@&0`'08(&(S#(&%+&S0&8#%6&R%(S)9(&(S0&T*)R"06.0&
)4&#.#%*$(&(S0&R%""&)+&(S0&60-()4@&S0&'#*&40')104&)*"Q&%*$)+#4&
#$&(S0&8#Q50*(&S#$&-00*&-0*0!&'%#"&()&(S0&60-()42
!,VVJKMW
XCY& /%.S(&)+&!406%()4&()&/0+9$0&H#Q50*(&-Q&MS%46&H04$)*
%
%
*>?%68?9:=78%63;%8?EHD?%Q3PI?;=%LP%3%D=83;<?8%2K89%Q?8D7;4%
?Z6?Q=G
234% :E%=>?8?%:D%3%D=:QHC3=:7;%3CC7O:;<%=>:De
K1/
%
58=S%/JKN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2L4% 78%:E%D3:9%=>:89%Q?8D7;%>3D%3;%:;=?8?D=%:;%=>?%EHC!%CCI?;=%7E%
=>?%7LC:<3=:7;%267V9?L=78R%<H383;=78R%?F?;%3%W7:;=%9?L=784S%
7T'(+$%)$%K*$),)%19%X')#*J'=%;P%K/*-9%P:Q?9
X?Y& !)550*(&)+&(S0&!)60&!)55%$$%)*
&
%
c>3=% :D% =>?% 8?3D7;% 7E% =>?% !79?% !7II:DD:7;% :;% 8?67IV
I?;9:;<%=>3=%=>?%68?9:=78%D>7HC9%;7=%L?%67IQ?CC?9%`=7%366?Q=%
Q3PI?;=%78%Q?8E78I3;6?%LP%3%=>:89%Q?8D7;%O>7%>3D%;7%:;=?8?D=%
:;%=>?%EHC!%CCI?;=%7E%=>?%7LC:<3=:7;R%H;C?DD%=>?8?%:D%D=:QHC3=:7;%
=7%=>?%67;=838Pf
%
%
8VD9G%`i;9?8%=>?%7C9%!:F:C%!79?R%=>?%68?9:=78%63;;7=%8?EHD?%
Q3PI?;=%LP%3%=>:89%Q?8D7;%LH=%=>?%!7II:DD:7;%L?C:?F?D%=>3=%
=>?%68?9:=78%D>7HC9%>3F?%3%8:<>=%=7%:;D:D=%7;%=>?%C:3L:C:=P%7E%=>?%
9?L=78S%A78?7F?8R%=>?%68?9:=78%D>7HC9%;7=%L?%67IQ?CC?9%=7%366?Q=%
Q3PI?;=%E87I%3%=>:89%Q?8D7;%O>7I%>?%I3P%)*4-*L$%78%)*4+#"4+9%
*>?%68?9:=78%I3P%;7=R%E78%Q?8D7;3C%8?3D7;DR%9?D:8?%=7%>3F?%3;P%
LHD:;?DD%9?3C:;<D%O:=>%3%=>:89%Q?8D7;e%78%=>?%68?9:=78%I3P%;7=%
>3F?%67;!%9?;6?%:;%=>?%>7;?D=P%7E%=>?%=>:89%Q?8D7;%O>7%I:<>=%
9?C:F?8%3%9?E?6=:F?%=>:;<%78%Q3P%O:=>%3%6>?6^%O>:6>%I3P%L?%>7;V
78?9Sa%7X$!'#+%'2%+/$%[')$%['00*44*'(=%!9%:PQ?9
XBY& ,-$041#(%)*&)+&A9$(%'0&A2N2:2&/0Q0$
&
%
-7%<779%8?3D7;%?Z:D=D%E78%9?Q38=:;<%E87I%=>?%8HC?%7E%=>?%
.Q3;:D>% !79?% 78#+9% ::B<?% =>3=% Q3PI?;=% I3P% L?% I39?% LP% 3%
D=83;<?8%O>?8?%=>?%7LC:<3=:7;%:D%;7=%*(+"*+"%!$#4'(,$S%.H6>%8HC?%
78#+9%::B<=%'-)%[')$?%:D%WHD=:!%?9%LPG
234% =>?%?Z:D=?;6?%7E%=>?%XH3D:V67;=836=%7E%($J'+*'#"0%J$4+*'%7E%
O>:6>%Q3PI?;=%E78%3;7=>?8%:D%LH=%3%F38:3;=e%3;9
2L4% =>?%?F7CH=:7;%7E%=>?%67;6?Q=%7E%789:;38P%7LC:<3=:7;%E87I%3%
8?C3=:7;%7E%Q?8D7;%=7%Q?8D7;%23D%:=%O3D%:;%@7I3;%$3O4R%=7%
3%8?C3=:7;%7E%Q3=8:I7;P%=7%Q3=8:I7;P%:;%=>?%I79?8;%C3OS%
c>?8?% ;7% !$#4'(,-% a",-*+*$4% 38?% :;F7CF?9R% O>3=% :;=?8?D=%
97?D% =>?% 68?9:=78% >3F?% :;% D??:;<% =>3=% =>?% Q?8E78I3;6?%
D>7HC9%L?%LP%8%78%Zf%5D%E78%=>?%9?L=78R%>?%:D%Q87=?6=?9%LP%
=>?%D?67;9%Q383<83Q>%7E%58=S%/JKNR%3;9%LP%58=S%/JK]S%*>?%
!%8D=%Q383<83Q>%7E%58=S%/JKN%D>7HC9%L?%?C:I:;3=?9S__%7g"'+$)%
*(%W'-$(+*('=%[*1*-%[')$=%d'-9%@=%!9%Q@;?9
K1J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JKN
XFY& H#Q50*(&-Q&#&MS%46&H04$)*&XN7/Y
&
%
*>?%=>:89%Q?8D7;%I3P%Q3PG
234% O:=>%=>?%^;7OC?9<?%3;9%67;D?;=%7E%=>?%9?L=78S%2+?8?R%=>?%
Q3P78%:D%?;=:=C?9%=7%@("Abi@.(A(-*%3;9%.ib@&h5V
*"&-%=7%DH6>%8:<>=D%3D%J",#,(+5=%!$(,-+5%&-,"4$=%'#%0'#+A
J,J$9?% 7D$$% 8#+9% :QPCh% 4$$% ,-4'% I$% N"k0,(% 19% D,(+'4=% ;<%
K/*-9%PC:?9
2L4% O:=>7H=%=>?%9?L=78_D%^;7OC?9<?%78%,J,*(4+%>:D%O:CCS%2+?8?R%
=>?%Q3P78%:D%('+%?;=:=C?9%=7%DHL87<3=:7;e%I78?7F?8R%>?%:D%
3CC7O?9%7;CP%b(-()"!"5$%@("Abi@.(A(-*S4
%
%
7EF,0!-$G%"E%^%Q3PD%E78%f\4%=83;DQ78=3=:7;%E38?R%O:=>V
7H=%f\4%^;7OC?9<?R%78%3<3:;D=%f\4%O:CCR%3;9%C3=?8%9:D67F?8D%
=>3=% f% O3D% ?;=:=C?9% =7% +5$)V)5@(R% ^% 63;% 8?67F?8% 7;CP%
D3:9%>3CEVE38?R%?F?;%:E%>?%>39%Q3:9%=>?%)i$$%)5@(S%*>:D%
:D%6C?38CP%=>?%E3HC=%7E%^9?
%
%
cVSWEG%";%=>?%?Z3IQC?%<:F?;R%63;%^%8?67F?8%f\4%>3CEV
E38?%E87I%=>?%68?9:=78f
%
%
`EOIG%-7R%E78%=>:D%:D%;7=%4'-"+*'%*()$6*+*%2E78%D3:9%>3CEV
E38?%O3D%8?3CCP%9H?4S%^\4%8:<>=%:D%3<3:;D=%fR%=>?%9?L=78R%E78%
D3:9%>3CEVE38?S%7D$$%Z,(L%'2%K9R9%19%W#*(*),)=%@Q%K/*-9%QQP%
,()%T'(+$%)$%K*$),)%19%H$#(,()'%X')#*J'=%;P%K/*-9%P:Q?9%
*>?% 8?I3:;:;<% >3CEVE38?R% O>:6>% O3D% -&*% ?F?;% 9H?% =>?%
68?9:=78R%:D%7E%67H8D?%"()"$%!,50$(+%78%4'-"+*'%*()$6*+*%3;9%
I3P%Q87Q?8CP%L?%8?67F?8?9%E87I%=>?%68?9:=78S%7<%T,(#$4,%
QCU?9e
%
%
cVSWEG%&=>?8%:;D=3;6?D%O>?;%8?67F?8P%63;%L?%>39%
E87I%=>?%68?9:=78%3;9%;7=%E87I%=>?%:;;76?;=%9?L=78G
34%
O>?;%=>?%9?L=%>39%Q8?D68:L?9
L4%
O>?;%=>?%9?L=%>39%L??;%67IQC?=?CP%8?I:==?9
64%
O>?;%=>?%9?L=%>3D%3C8?39P%L??;%Q3:9
94%
O>?;%C?<3C%67IQ?;D3=:7;%>39%3C8?39P%=3^?;%QC36?S%7<%
T,(#$4,%QCU?9e
%
EF,0!-$G
%
%
8%7O?D%Z%,/RUUURUUUS%$3=?8R%8%Q3:9%Z%,]UURUUUR%C?3FV
:;<%3%L3C3;6?%7E%,KUURUUUS%[=%3%6C3DDI3=?%7E%8=%3;9%:;=?;9V
K1K
%
58=S%/JKN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
:;<%=7%DH8Q8:D?%8=%Q3:9%Z%=>?%DHI%7E%,/RUUURUUU%=>:;^:;<%
=>3=% 8% D=:CC% 7O?9% Z% =>3=% 3I7H;=S% +?% 9:9% =>:D% .*+/'"+%
L('.-$)J$%7E%89%+7O%IH6>%63;%[%8?67F?8%E87I%8f
%
%
8VD9G%[%63;%8?67F?8%7;CP%,KUURUUU%E87I%8=%L?63HD?%
:=%:D%7;CP%HQ%=7%=>:D%3I7H;=%=>3=%8%>3D%L??;%L?;?!%=?9S%[%
63;%8?67F?8%=>?%8?I3:;:;<%,]UURUUU%E87I%Z%O>7%D>7HC9%
;7=% >3F?% 366?Q=?9% 67IQC?=?% Q3PI?;=% E78% 3% 9?L=% 3C8?39P%
Q38=:3CCP%Q3:9S%"E%Z%:;6:9?;=3CCP%:D%:;%L39%E3:=>R%Z%:D%8?DQ7;V
D:LC?%;7=%7;CP%E78%=>?%8?=H8;%7E%=>?%,]UURUUU%LH=%3CD7%E78%
=>?%:;=?8?D=%:;%C:?H%7E%93I3<?DS
%
%
";%=>?%Q8?6?9:;<%Q87LC?IR%DHQQ7D?%=>?%Q3PI?;=%LP%[%
>39%L??;%I39?%3<3:;D=%=>?%O:CC%7E%8=%O7HC9%P7H8%3;DO?8%
L?%=>?%D3I?f
%
%
8VD9G%B?DR%=>?%3;DO?8%O7HC9%L?%=>?%D3I?S%*>?%C3O%
I3^?D%;7%9:D=:;6=:7;%3D%=7%=>?%8:<>=%7E%8?67F?8P%:;%63D?%Q3PV
I?;=%LP%3%D=83;<?8%O3D%I39?%?:=>?8%.*+/'"+%+/$%L('.-$J$%
78%,J,*(4+%+/$%&'(4$(+%7E%=>?%9?L=78S%";%L7=>%63D?DR%=>?%Q3PV
:;<%D=83;<?8%`63;%8?67F?8%7;CP%:;D7E38%3D%=>?%Q3PI?;=%>3D%
L??;%L?;?!%6:3C%=7%=>?%9?L=78Sa%78#+9%:QP;=%Q()%!,#,J#,!/=%
[*1*-%[')$?9
X=Y& !#$0$
&
&
7.)*'%"")&12&A#1%04
BE&HS%"2&F?F
%
%
H8[WDG%I%7O?D%[9%c:=>7H=%I\4%^;7OC?9<?R%^R%3%E8:?;9R%Q3:9%
[%Q38=%7E%I\4%9?L=S%.7R%I%D=:CC%7O?D%=>?%#$0,*()$#9%'7?D%^\4%Q3PV
I?;=%7E%Q38=%7E%=>?%9?L=%!#$1$(+%=>?%8H;;:;<%7E%=>?%Q8?D68:Q=:F?%
Q?8:79%8?<389:;<%=>?%8?I3:;:;<%Q38=f
%
%
`EOIG%-7R%L?63HD?%:;%;7%O3P%I3P%I%L?%D3:9%=7%>3F?%36V
^;7OC?9<?9%=>?%?Z:D=?;6?%7E%=>?%9?L=S
&
&
O)*a#.#&12&O#4'%#
?P&HS%"2&P
&
%
H8[WDG%)83;6:D67%D7C9%3%Q386?C%7E%C3;9%,%#$+#'%=7%D7I?L79PS%
";% =>?% 8?<:D=8P% 8?6789DR% =>?% 8:<>=% =7% 8?QH86>3D?% O3D% =>?8?E78%
3;;7=3=?9S%)83;6:D67%D7C9%C3=?8%=>:D%8:<>=%7E%8?QH86>3D?%=7%'?C%
K1M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JKN
@7D38:7%O>7%:;%=H8;%D7C9%=>?%D3I?%=7%h7;T3<3S%)83;6:D67%C3=?8%
Q3:9% 7;% >:D% 7O;% L?>3CE% =>?% 8?QH86>3D?% I7;?P% =7% =>?% LHP?8% ,%
#$+#'=%3;9%=>?%3;;7=3=:7;%7E%=>?%8:<>=%=7%8?9??I%:;%=>?%@?<:D=8P%
7E%,87Q?8=P%O3D%63;6?CC?9S%h7;T3<3%;7O%D??^D%=7%>3F?%=>?%C3;9%
8?<:D=?8?9%H;9?8%>:D%;3I?%7;%=>?%=>?78P%=>3=%)83;6:D67%>39%Q3:9%
E78%>:D%2h7;T3<3_D4%`9?L=Ra%3;9%=>?8?E78?%=>?%C3;9%;7O%Q87Q?8CP%
L?C7;<D%=7%>:I%2h7;T3<34S
%
%
`EOIG%,?=:=:7;%7E%h7;T3<3%O:CC%;7=%Q87DQ?8R%L?63HD?%58=S%
/JKNR%L?:;<%3QQC:63LC?%7;CP%=7%`9?L=DRa%63;;7=%L?%HD?9%:;%=>:D%
63D?S%h7;T3<3%O3D%;7=%3%=8H?%9?L=78S%c>:C?%h7;T3<3%>39%=>?%
8:<>=%=7%8?QH86>3D?R%DH6>%8:<>=%O3D%7;CP%3%8:<>=R%;7=%3%9H=PS%";%
3%=8H?%9?L=R%=>?8?%:D%3%9H=PS%";%3%63D?%7E%=>?%8:<>=%=7%8?QH86>3D?R%
O>?=>?8%78%;7=%=>?%Q87Q?8=P%O7HC9%L?%8?QH86>3D?9%9?Q?;9D%?;V
=:8?CP%7;%h7;T3<3S%*>?8?E78?R%)83;6:D67_D%36=%7E%8?QH86>3D:;<%9:9%
;7=%I3^?%'?C%@7D38:7%78%>:D%=83;DE?88??R%h7;T3<3R%=>?%7O;?8R%
63;;7=%>3F?%=>?%C3;9%8?<:D=?8?9%H;9?8%>:D%;3I?S
%
%
cVSWEG%+39%)83;6:D67%36=?9%3D%,J$(+%E78%h7;T3<3R%78%>39%
)83;6:D67_D% 36=% L??;% 3% 63D?% 7E% ($J'+*'#"0% J$4+*'=% =>?% 3;DO?8%
O7HC9%>3F?%L??;%9:EE?8?;=S%2D$$%D*4'(%19%Z,-J'4=%P@%K/*-9%<<B=%
O>?8?%=>?%!7H8=%>?C9%=>3=%3;%H;6C?%7E%6?8=3:;%O389DR%O>?=>?8%
3QQ7:;=?9%C?<3C%<H389:3;%E78%=>?I%78%;7=R%:D%3CC7O?9%H;9?8%=>?%
C3O%=7%8?QH86>3D?%78%8?9??I%Q87Q?8=P%:;%L?>3CE%7E%=>?%I:;78DR%
:;3DIH6>%3D%?F?;%3%=>:89%Q?8D7;R%O>7%:D%3%&'0!-$+$%4+#,(J$#R%
I3P%Q3P%E78%D7I?7;?%"()$#%8#+9%:QP;4Se
&
&
V%($9%&N9$$#*&k#%$S#&12&V04#"')
BD&HS%"2&<?F
&
%
H8[WDG% ,C3:;=:EER% 3% D?CC?8% :;% g3Q3;R% D7C9% =7% 9?E?;93;=R%
3%LHP?8R%D7I?%673CS%c>:C?%9?C:F?8P%O3D%L?:;<%I39?R%=>?%,>:CS%
$?<:DC3=H8?%:IQ7D?9%3%DQ?6:!%6%=3Z%7E%,/%Q?8%I?=8:6%=7;%7E%673CS%
.7%=>3=%=>?%673C%67HC9%?;=?8%A3;:C3R%=>?%QC3:;=:EE%Q3:9%=>:D%=3ZS%
c>?;%9?E?;93;=%O3D%3D^?9%E78%8?:ILH8D?I?;=R%9?E?;93;=%8?V
EHD?9%=7%Q3PS%+?;6?R%QC3:;=:EE%L87H<>=%=>:D%36=:7;S
R44"$4G%
/4%
c>7%D>7HC9%8?3CCP%Q3P%=>?%=3Zf
%
J4%
"E%LHP?8%D>7HC9%8?3CCP%Q3P%=>?%=3ZR%I3P%D?CC?8%
8?67F?8%E87I%=>?%LHP?8%O>3=%>3D%L??;%Q3:9%E78%
=>?%=3Z?DR%?F?;%=>7H<>%D3:9%Q3PI?;=%O3D%?EV
E?6=?9%O:=>7H=%=>?%67;D?;=%7E%=>?%LHP?8f
K11
%
58=S%/JKN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
`EOIG%2/4%*>?%LHP?8%D>7HC9%8?3CCP%Q3P%=>?%=3ZS%5C=>7H<>%
=>?%56=%Q87F:9?D%=>3=%=>?%D?CC?8%0,5%Q3P%=>?%=3ZR%3D%:D%Q836=:D?9%
H;9?8%7H8%8?F?;H?%DPD=?IR%D=:CC%=>?%HC=:I3=?%C:3L:C:=P%D>7HC9%E3CC%
HQ7;%=>?%LHP?8S
%
%
2J4% .:;6?%=>?%D?CC?8R%=>?8?E78?R%I?8?CP%Q3:9%:;%L?>3CE%7E%=>?%
LHP?8R%=>?%D?CC?8%63;%;7O%8?67F?8%=>?%=3Z%Q3:9%E87I%=>?%LHP?8R%
;7=O:=>D=3;9:;<%=>?%E36=%=>3=%=>?%LHP?8_D%67;D?;=%>39%;7=%L??;%
Q8?F:7HDCP%7L=3:;?9S%c>3=%63;%L?%8?67F?8?9%:D%=>3=%3I7H;=%O>:6>%
>3D%L?;?!%=?9%=>?%LHP?8%29?L=78%7E%=>?%=3Z4R%3;9%:;%=>:D%63D?R%=>?%
3I7H;=%7E%L?;?!%=%O3D%6C?38CP%=>?%O>7C?%=3ZS
%
%
2VSWEG%i;9?8%58=S%J/]1%7E%=>?%!:F:C%!79?R%=>?%E7CC7O:;<%:D%
?ZQ8?DDCP%Q87F:9?9G%`5;P%Q?8D7;%O>7%:D%67;D=83:;?9%=7%Q3P%=>?%
=3Z?D%7E%3;7=>?8%D>3CC%L?%?;=:=C?9%=7%8?:ILH8D?I?;=%E87I%=>?%
C3==?8Sa4
&
&
&
/0S#-%"%(#(%)*&b%*#*'0&!)482&12&
!)94(&)+&7880#"$@&0(&#"2
DF&HS%"2&DE=
&
%
";%=>:D%63D?R%=>?%!7H8=%I39?%=>?%E7CC7O:;<%8HC:;<DG
/4% 5D%=7%O>?=>?8%78%;7=%Q3PI?;=%LP%3%=>:89%Q?8D7;%8?3CCP%L?;?!%=?9%
=>?%9?L=78%:D%3%I3==?8%=7%L?%L87H<>=%HQ%LP%=>?%9?L=78R%3;9%;7=%
=>?%68?9:=78R%E78%>3F:;<%<:F?;%67;D?;=%=7%=>?%D=83;<?8_D%Q3PI?;=R%
=>?%9?L=%:D%3C8?39P%Q3:9R%3;9%3D%68?9:=78R%>?%;7O%D=?QD%7H=%7E%=>?%
Q:6=H8?S%A78?7F?8R%7;CP%=>?%9?L=78_D%8:<>=D%38?%3EE?6=?9S
J4% &;6?% =>?% 68?9:=78% >3D% 366?Q=?9% Q3PI?;=% E87I% 3% D=83;<?8R% :=%
63;;7=%-,+$#%7;%8?XH:8?%=>?%Q?8I:DD:7;%7E%=>?%9?L=78%=7%=>?%Q3PV
I?;=S
K4% +?8?% 3CD7R% =>?% .HQ8?I?% !7H8=% D3:9% =>3=% :E% =>?% D=83;<?8% Q3PD%
O:=>%=>?%L('.-$)J$%7E%=>?%9?L=78%O>7%^??QD%XH:?=%3;9%97?D%('+%
'63$&+R%:=%:D%3D%:E%=>?%9?L=78%>39%8?3CCP%67;D?;=?9S%*>?%9?L=78%:D%
;7=%3CC7O?9%=7%Q87=?D=%C7;<%3E=?8%=>?%Q3PI?;=S%+:D%67;9H6=%3=%
=>?%=:I?%7E%Q3PI?;=%:D%O>3=%67H;=DS
%
%
cVSWEG%*>?%^;7OC?9<?%7E%=>?%9?L=78%=>3=%D7I?7;?%:D%Q3PV
:;<%E78%>:I%63;%L?%Q87F?9%*(2$#$(+*,--5%3;9%LP%>:D%67;9H6=S%7D$$%
I$%N"k0,(%19%D,(+'4=%;<%K/*-9%PC:?9e
K1N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JK]
&
&
&
!S)**0Q&:%5&12&!7@&:0#
!#$(4)&ZS0"#*&f&k0%(S&:#R40*'0&ZS0"#*
O/&C>FECD;?>@&A9"2&?>@&CDDE
%
%
*>?%Q3PI?;=%7E%=>?%C73;%3;9%63Q:=3C%<3:;D%=3Z%H;97HL=?9CP%
8?C:?F?9%=>?%3QQ?CC3;=%E87I%DH6>%7LC:<3=:7;DS%*>?%L?;?!%=%>39%
?F?;% L??;% IH=H3CR% L7=>% 3QQ?CC3;=% 3;9% 3QQ?CC??% >39% 7L=3:;?9%
39F3;=3<?D%7;%=>?:8%D:9?D%Y%=>?%3QQ?CC3;=%E87I%>:D%C73;R%3;9%
3QQ?CC??%E87I%L?:;<%D?6H8?9%7E%=>?%Q7DD?DD:7;S
%
%
*>:D%!7H8=%!%;9D%;7%?8878%:;%8HC:;<%=>3=%Q?=:=:7;?8%$:I%:D%
;7=% ?;=:=C?9% =7% 8?D6:DD:7;% 7E% =>?% 67;=836=S% "=% 63;;7=% L?% 9?;:?9%
=>3=%!>7;;?P%$:I%:D%3CD7%;7=%O:=>7H=%E3HC=%:;%=>:D%63D?S%"=%O3D%
$:I_D% 7LC:<3=:7;% =7% D??% =7% :=% =>3=% =>?% Q87Q?8=P% O3D% E8??% E87I%
3CC%?;6HIL83;6?D%3;9%=3Z%C:3L:C:=:?DR%*(+$#%,-*,R%O>:6>%>?%7LF:V
7HDCP%E3:C?9%=7%97S%*>?%8?DQ7;9?;=%67H8=_D%8HC:;<%:;%67;D:9?8:;<%
=>?%Q3PI?;=%7E%=>?%I78=<3<?%C73;%3;9%=>?%63Q:=3C%<3:;D%=3Z%LP%
$?3%c>?C3;%3D%>?8%EHCC%Q3PI?;=%E78%=>?%Q87Q?8=P%:D%LH=%3%E3:8%
9:DQ7D:=:7;%O>:6>%=>:D%!7H8=%97?D%;7=%D??%3;P%67<?;=%8?3D7;%=7%
8?F?8D?S
!
74(2&C?BP2&ZS)0104&8#Q$&)*&-0S#"+&)+&(S0&60-()4&R%(S)9(&
(S0&T*)R"06.0&)4&#.#%*$(&(S0&R%""&)+&(S0&"#((04@&'#**)(&')580"&
(S0&'406%()4&()&$9-4).#(0&S%5&%*&S%$&4%.S($@&$9'S&#$&(S)$0&#4%$;
%*.&+4)5&#&5)4(.#.0@&.9#4#*(Q@&)4&80*#"(Q2&
!,VVJKMW
XCY& ZS0*&K)&G9-4).#(%)*&J`%$($
&
%
*>:D%58=:6C?%:D%3;%3I?;9I?;=%7E%58=S%//1d%7E%=>?%7C9%!:F:C%
!79?S%i;9?8%=>?%38=:6C?%7E%=>?%7C9%!:F:C%!79?R%;7%I?;=:7;%O3D%
I39?%:;%63D?%=>?%Q3P78%Q3:9%3<3:;D=%=>?%O:CC%7E%=>?%9?L=78S%)H8V
=>?8I78?R%;7%?Z3IQC?D%7E%DHL87<3=:7;%O?8?%I39?S%*>?%3I?;9V
I?;=R%>7O?F?8R%97?D%;7=%?EE?6=%3;P%839:63C%6>3;<?%:;%=>?%C3O%
:;3DIH6>%3D%?F?;%H;9?8%=>?%7C9%!:F:C%!79?R%7H8%WH8:DQ8H9?;6?%
>3D%8HC?9%=>3=%7;?%O>7%Q3PD%O:=>7H=%=>?%^;7OC?9<?%7E%=>?%9?L=78%
>3D%;7%8:<>=%=7%DHL87<3=:7;S%+?;6?R%O:=>%C?DD%8?3D7;%D>7HC9%3%
Q3P78%3<3:;D=%=>?%O:CC%7E%=>?%9?L=78%L?%?;=:=C?9%=7%DHL87<3=:7;S%
i;9?8%=>?%7C9%!:F:C%!79?%=77R%=>?%67;6?Q=%7E%DHL87<3=:7;%3;9%=>?%
8:<>=D%:=%6388:?9%O?8?%O?CC%^;7O;e%>?;6?R%=>?%-?O%!:F:C%!79?%
38=:6C?%:;%=>:D%8?DQ?6=%>3D%;7=%I39?%3;P%DHLD=3;=:3C%6>3;<?S
K1]
%
58=S%/JK]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X?Y& jG9-4).#(%)*d&L0!&*06
&
%
D"6#'J,+*'(%I?3;D%=>?%36=%7E%QH==:;<%D7I?L79P%:;=7%=>?%
D>7?D%7E%=>?%68?9:=78R%>?;6?R%?;3LC:;<%=>?%E78I?8%=7%?Z?86:D?%3CC%
=>?% 8:<>=D% 3;9% 36=:7;D% =>3=% 67HC9% >3F?% L??;% ?Z?86:D?9% LP% =>?%
C3==?8S%*>?%C3O%D3PDG%`.HL87<3=:7;%=83;DE?8D%=7%=>?%Q?8D7;%DHL87V
<3=?9%=>?%68?9:=%O:=>%3CC%=>?%8:<>=D%=>?8?=7%3QQ?8=3:;:;<R%?:=>?8%
3<3:;D=%=>?%9?L=78%78%3<3:;D=%=>:89%Q?8D7;DR%L?%=>?P%<H383;=78D%78%
Q7DD?DD78D%7E%I78=<3<?DR%DHLW?6=%=7%D=:QHC3=:7;%:;%3%67;F?;=:7;3C%
DHL87<3=:7;Sa%78#+9%:PUP=%[*1*-%[')$?9
XBY& G)50& /%.S($& ZS%'S& V#Q& N0& J`04'%$06& -Q& (S0& H04$)*&
G9-4).#(06&%*&(S0&H"#'0&)+&(S0&!406%()4
&
%
*>?%8:<>=D%38:D:;<%E87IG
234% 3%I78=<3<?e
2L4% 3%<H383;=Pe
264%
3%Q?;3C=P%78%Q?;3C%6C3HD?S
XFY& H4)-"05$
234% 8%L7887O?9%,/%I:CC:7;%E87I%ZS%*>?%C73;%O3D%D?6H8?9%LP%3%
I78=<3<?%7E%8\4%C3;9%:;%E3F78%7E%ZS%M*+/'"+%=>?%^;7OC?9<?%7E%
8=%[%Q3:9%Z%=>?%DHI%7E%,/%I:CC:7;%E78%8\4%9?L=S%8%L?;?!%=?9%
=7%=>?%3I7H;=%7E%,/%I:CC:7;S
/4%
A3P%[%6C3:I%8?:ILH8D?I?;=%E87I%8f
J4%
"E%D7R%>7O%IH6>f
K4%
"E%8%63;;7=%Q3PR%I3P%[%E78?6C7D?%=>?%I78=<3<?%7;%8\4%
C3;9f
%
8VD9G
/4%
B?DR%[%63;%6C3:I%8?:ILH8D?I?;=%E87I%8%:;3DIH6>%3D%
[%Q3:9%8\4%9?L=S
J4%
[%63;%8?67F?8%=>?%O>7C?%3I7H;=%7E%,/%I:CC:7;%:;3DV
IH6>%3D%=>?%Q87LC?I%D=3=?D%=>3=%8%L?;?!%=?9%HQ%=7%=>?%
3I7H;=%7E%,/%I:CC:7;S
K4%
"E%8%63;;7=%Q3PR%[%63;;7=%E78?6C7D?%=>?%I78=<3<?%7;%
8\4%C3;9S%"=%:D%=8H?%=>3=%=>?%78:<:;3C%68?9:=78%Z%>39%
=>?%8:<>=%=7%E78?6C7D?%:;%63D?%7E%;7;VQ3PI?;=R%bi*%
:;%=>:D%63D?R%=>?%;?O%68?9:=78%[%>39%;7=%L??;%DHL87V
K10
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JK]
<3=?9%:;%=>?%8:<>=D%7E%Z=%:;3DIH6>%3D%[%Q3:9%O:=>7H=%
=>?%^;7OC?9<?%7E%89%*>?%7;CP%8:<>=%7E%[%=>?8?E78?%:D%
8?:ILH8D?I?;=% HQ% =7% =>?% 3I7H;=% 8% >39% L?;?!%=?9R%
LH=%-&*%=>?%8:<>=%7E%DHL87<3=:7;S%`c>7?F?8%Q3PD%7;%
L?>3CE%7E%=>?%9?L=78%O:=>7H=%=>?%^;7OC?9<?%78%3<3:;D=%
=>?%O:CC%7E%=>?%C3==?8R%63;;7=%67IQ?C%=>?%68?9:=78%=7%
DHL87<3=?% >:I% :;% >:D% 8:<>=DR% DH6>% 3D% =>7D?% 38:D:;<%
E87I%3%I78=<3<?R%$+&9a%78#+9%:QPC=%[*1*-%[')$?9
%
%
cVSWEG%"E%:;%Q87LC?I%234R%[%>39%Q3:9%8\4%9?L=%
3<3:;D=% =>?% O:CC% 7E% 8R% O7HC9% P7H8% 3;DO?8% L?% =>?%
D3I?f
%
%
8VD9G%B?DR%=>?%3;DO?8%O7HC9%L?%=>?%D3I?R%:;3DV
IH6>%3D%=>?%C3O%<:F?D%=>?%D3I?%8:<>=D%=7%7;?%O>7%Q3PD%
O:=>7H=%=>?%^;7OC?9<?%3;9%=7%7;?%O>7%Q3PD%3<3:;D=%
=>?%O:CC%7E%=>?%9?L=78S%78#+9%:QPC=%[*1*-%[')$?9e
2L4% 8%7O?D%Z%=>?%DHI%7E%,/%I:CC:7;S%[%:D%=>?%<H383;=78%7E%89%8%
O3D%3LC?%=7%Q3P%Z%=>?%DHI%7E%,MUURUUUS%*>?8?E78?R%,NUURUUU%
D=:CC%8?I3:;D%H;Q3:9S%I=%=>:;^:;<%=>3=%8%D=:CC%7O?9%Z%,/%
I:CC:7;%Q3:9%,/%I:CC:7;%=7%Z=%3<3:;D=%=>?%O:CC%7E%8S
/4%
A3P%I%8?67F?8%E87I%8f
J4%
"E%D7R%>7O%IH6>f
K4%
"E%8%63;;7=%Q3PR%I3P%I%Q876??9%3<3:;D=%=>?%<H383;=78%
[f
%
8VD9G
/4%
B?DR%I%I3P%8?67F?8%E87I%89
J4%
I%63;%8?67F?8%7;CP%,NUURUUU%L?63HD?%=>:D%:D%=>?%7;CP%
3I7H;=%O>:6>%L?;?!%=?9%8S%@?I?IL?8%=>3=%Q8?F:7HDCP%
,MUURUUU%>39%L??;%Q3:9R%C?3F:;<%3%L3C3;6?%7E%I?8?CP%
,NUURUUUS
K4%
"E%8%63;;7=%Q3PR%I%63;;7=%789:;38:CP%Q876??9%3<3:;D=%
=>?%<H383;=78%[%L?63HD?%I=%>3F:;<%Q3:9%3<3:;D=%=>?%
O:CC%7E%8=%:D%;7=%?;=:=C?9%=7%DHL87<3=:7;S
X=Y& c90$(%)*$
234% .HQQ7D?% 3% Q3P78% Q3PD% =>?% 68?9:=78% O:=>% =>?% ?ZQ8?DD% 78%
:IQC:?9%67;D?;=%7E%=>?%9?L=78R%O>3=%38?%=>?%8:<>=D%7E%=>?%
Q3P78f
K1d
%
58=S%/JK]
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
8VD9G% 5% Q3P78% :;% =>:D% 63D?% O7HC9% L?% ?;=:=C?9% ;7=%
I?8?CP%=7%EHCC%8?:ILH8D?I?;=%LH=%3CD7%=7%DHL87<3=:7;R%78%
=>?%8:<>=%=7%L8:;<%36=:7;D%3<3:;D=%=>?%9?L=78%3D%I78=<3<??%
78%3<3:;D=%=>:89%Q?8D7;DS
2L4% "D%=>?8?%3;P%DQ?6:!%6%Q87F:D:7;%7E%=>?%C3O%DHQQ78=:;<%=>?%
3;DO?8%:;%234f
%
%
8VD9G%B?DS%58=S%/KUJ%7E%=>?%!:F:C%!79?%D=3=?D%=>3=G%`"=%
:D%Q8?DHI?9%=>3=%=>?8?%:D%-$J,-%4"6#'J,+*'(%Z%Z%Z%2J4%O>?;%
3%=>:89%Q?8D7;R%;7=%:;=?8?D=?9%:;%=>?%7LC:<3=:7;R%Q3PD%O:=>%
=>?%?ZQ8?DD%78%=36:=%3QQ87F3C%7E%=>?%9?L=78Sa
264%
58=S%/JK]%D3PD%=>?%Q3P78%`63;;7=%67IQ?C%=>?%68?9:=78R%LH=%
=>:D%:D%-&*%=>?%I?3;:;<%7E%=>?%C3OR%E78%DHL87<3=:7;%63;%
=3^?% QC36?% 7;CP% :E% =>?% Q3PI?;=% >39% L??;% I39?% O:=>% =>?%
^;7OC?9<?%3;9%O:=>7H=%=>?%7LW?6=:7;%7E%=>?%9?L=78S%c>3=%
=>?%C3OR%=>?8?E78?R%I?3;D%:D%=>3=%DH6>%Q3P78%3D%:D%8?E?88?9%
=7%:;%58=S%/JK]%`*4%('+%$(+*+-$)%+'%DHL87<3=:7;Sa
X<Y& jG9-4).#(%)*d&L%$(%*.9%$S06&+4)5&j/0%5-94$050*(d
&
%
";% DHL87<3=:7;R% 8?67H8D?% 63;% L?% >39% =7% =>?% I78=<3<?%%
78%<H383;=P%78%QC?9<?e%:;%8?:ILH8D?I?;=R%=>?8?%:D%;7%DH6>%8?V
67H8D?S
%
%
";%DHL87<3=:7;R%=>?%9?L=%:D%?Z=:;<H:D>?9%:;%7;?%4$(4$=%LH=%3%
;?O%68?9:=78R%O:=>%?Z36=CP%=>?%D3I?%8:<>=D%3D%=>?%7C9%7;?R%3QQ?38D%
7;%=>?%D6?;?S%";%8?:ILH8D?I?;=R%=>?%;?O%68?9:=78%>3D%9:EE?8?;=%
8:<>=DR%D7%:=%:D%3D%:E%=>?8?%>3D%:;9??9%L??;%3;%?Z=:;<H:D>I?;=%7E%
=>?%7LC:<3=:7;S
%
%
";%DHL87<3=:7;R%=>?8?%:D%D7I?=>:;<%I78?%=>3;%3%Q?8D7;3C%
36=:7;%7E%8?67F?8Pe%:;%8?:ILH8D?I?;=R%=>?8?%:D%7;CP%3%Q?8D7;3C%
36=:7;%=7%8?67F?8%=>?%3I7H;=S%7<%T,(#$4,%Q;>?9
XPY& G%5%"#4%(Q
%
%
-7=?R% >7O?F?8R% =>3=% :;% L7=>% 8?:ILH8D?I?;=% 3;9% DHL87V
<3=:7;R%=>?8?%63;%L?%8?67F?8P%7E%O>3=%=>?%D=83;<?8%i/,4%!,*)j%
2;7=%;?6?DD38:CP%=>?%3I7H;=%7E%=>?%68?9:=4S%7D$$%8#+9%:QP;=%Q()%
!,#,J#,!/=%[*1*-%[')$?9
KNU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%/JK0V/JKd
&
74(2&C?BE2&H#Q50*(&5#60&-Q&#&(S%46&804$)*&RS)&6)0$&*)(&
%*(0*6&()&-0&40%5-94$06&-Q&(S0&60-()4&%$&600506&()&-0&#&6)*#;
(%)*@&RS%'S&40_9%40$&(S0&60-()4d$&')*$0*(2&N9(&(S0&8#Q50*(&%$&
%*&#*Q&'#$0&1#"%6&#$&()&(S0&'406%()4&RS)&S#$&#''08(06&%(2
!,VVJKMW
XCY& ZS0*&H#Q50*(&-Q&G(4#*.04&3$&L00506&#&L)*#(%)*
%
%
@?3D7;% O>P% 9?L=78% >3D% =7% 67;D?;=% Y% -7% 7;?% D>7HC9% L?%
67IQ?CC?9% =7% 366?Q=% =>?% <?;?87D:=P% 7E% 3;7=>?8S% 7X$!'#+% '2% +/$%
[')$%['00*44*'(=%!9%:PQ?9
X?Y& J`#58"0
&
%
8%7O?D%Z%,/%I:CC:7;S%[=%:;%L?>3CE%7E%8R%Q3PD%Z%,/%I:CC:7;%
3<3:;D=%=>?%67;D?;=%7E%8=%3C=>7H<>%[%>39%Q8?F:7HDCP%=7C9%8%=>3=%
>?%7[?%9:9%;7=%:;=?;9%=7%L?%8?:ILH8D?9S%-??9C?DD%=7%D3PR%Z%36V
6?Q=?9%=>?%Q3PI?;=%LP%[%:;%L?>3CE%7E%8S
234% "D%8\4%7LC:<3=:7;%=7O389D%Z%?Z=:;<H:D>?9f
2L4% A3P%[%D=:CC%8?67F?8%E87I%8=%L?63HD?%7E%=>?%E36=%=>3=%8%9:9%
;7=%67;D?;=%=7%O>3=%=>?%C3O%9??ID%3%97;3=:7;%7;%=>?%Q38=%
7E%[%:;%E3F78%7E%8f
%
8VD9G
234% B?DR%8\4%7LC:<3=:7;%=7O389%Z%:D%?Z=:;<H:D>?9%?F?;%:E%8%9:9%
;7=%67;D?;=%=7%=>?%97;3=:7;S%*>?%C3O%D3PDG%`bH=%=>?%Q3PI?;=%
:D%:;%3;P%63D?%F3C:9%3D%=7%=>?%68?9:=78%O>7%>3D%366?Q=?9%:=Sa%
7Q()%4$(+$(&$=%8#+9%:QP<=%[*1*-%[')$?9
2L4% B?DR%[%I3P%D=:CC%8?67F?8%E87I%8=%3C=>7H<>%78:<:;3CCP%[%9:9%
;7=%:;=?;9%=7%L?%8?:ILH8D?9S%*>:D%:D%D7%L?63HD?%>?8?%=>?8?%
>3D% L??;% ;7% 8?3C% 97;3=:7;S% +7O?F?8R% :;3DIH6>% 3D% =>?%
Q3PI?;=%LP%[%>39%L??;%?EE?6=?9%3<3:;D=%=>?%O:CC%7E%8=%3CC%
=>3=%[%63;%8?67F?8%E87I%8%:D%=7%=>?%?Z=?;=%=>3=%8%>3D%L??;%
L?;?!%=?9%LP%[\4%Q3PI?;=%=7%Z%:;%8\4%L?>3CES
%
&
74(2&C?BD2&3*&)-"%.#(%)*$&()&.%10@&8#Q50*(&5#60&-Q&)*0&
RS)& 6)0$& *)(& S#10& (S0& +400& 6%$8)$#"& )+& (S0& (S%*.& 690& #*6&
'#8#'%(Q&()&#"%0*#(0&%(&$S#""&*)(&-0&1#"%6@&R%(S)9(&840U96%'0&
()&(S0&84)1%$%)*$&)+&74(%'"0&CF?P&9*604&(S0&M%("0&)*&[K#(94#"&
,-"%.#(%)*$2]
KN/
%
58=S%/JMU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& H#Q50*(&-Q&#*&3*'#8#'%(#(06&H04$)*
!
%
N$($#,-%X"-$%Y%"E%Q?8D7;%Q3P:;<%>3D%;7%63Q36:=P%=7%<:F?G
234% Q3PI?;=%:D%;7=%F3C:9%Y%:E%366?Q=?9e
2L4% 68?9:=78%63;;7=%?F?;%L?%67IQ?CC?9%=7%366?Q=%:=e
264%
=>?%8?I?9P%7E%67;D:<;3=:7;%O7HC9%;7=%L?%Q87Q?8S%7<%T,(#$4,%
Q;C?9
%
EF&$!+*'(%23D%Q87F:9?9%E78%:;%58=S%/MJ]R%[*1*-%[')$4G
%
%
`c>?;%3%I:;78%L?=O??;%?:<>=??;%3;9%=O?;=PV7;?%P?38D%7E%
3<?R%O>7%>3D%?;=?8?9%:;=7%3%67;=836=%O:=>7H=%=>?%67;D?;=%7E%=>?%
Q38?;=D%78%<H389:3;%F7CH;=38:CP%Q3PD%3%DHI%7E%I7;?P%78%9?C:F?8D%
3%EH;<:LC?%=>:;<%:;%EHC!%CCI?;=%7E%=>?%7LC:<3=:7;R%=>?8?%D>3CC%L?%
;7%8:<>=%=7%8?67F?8%=>?%D3I?%E87I%=>?%7LC:<??%O>7%>3D%DQ?;=%78%
67;DHI?9%:=%:;%<779%E3:=>Sa
X?Y& J`#58"0&)+&(S0&J`'08(%)*
%
%
8=%3%I:;78R%?;=?8?9%:;=7%3%67;=836=%O:=>7H=%=>?%67;D?;=%7E%
>:D%Q38?;=DS%";%D3:9%67;=836=R%8%O3D%DHQQ7D?9%=7%Q3P%=7%Z%=>?%
DHI%7E%,/%I:CC:7;S%Z%9:9%;7=%^;7O%7E%8\4%I:;78:=PR%3;9%O>?;%
8%F7CH;=38:CP%Q3:9%>:I%=>?%I7;?PR%Z%366?Q=?9%=>?%DHIS%&H=%7E%
=>:D%3I7H;=R%Z%DQ?;=%,0UURUUUS%$3=?8R%=>?%Q38?;=D%7E%8%C?38;?9%
7E%=>?%=83;D36=:7;R%3;9%L87H<>=%3;%36=:7;%:;%67H8=%=7%8?67F?8%=>?%
,/%I:CC:7;%Q3:9%=7%Z9%+7O%IH6>%63;%=>?%Q38?;=D%8?67F?8%E87I%
Zf
%
%
8VD9G%*>?%Q38?;=D%63;%8?67F?8%7;CP%,JUURUUU%:;3DIH6>%3D%
=>?%,0UURUUU%>39%3C8?39P%L??;%DQ?;=%:;%<779%E3:=>S
%
%
cVSWEG%c>:C?%58=S%/JKd%8?E?8D%=7%Q3PI?;=%65%3;%:;63Q36:V
=3=?9%Q?8D7;R%58=S%/JM/%8?E?8D%=7%Q3PI?;=%+'%3;%:;63Q36:=3=?9%
Q?8D7;S\
&
74(2&C?F>2&H#Q50*(&$S#""&-0&5#60&()&(S0&804$)*&%*&RS)$0&
+#1)4&(S0&)-"%.#(%)*&S#$&-00*&')*$(%(9(06@&)4&S%$&$9''0$$)4&%*&
%*(040$(@&)4&#*Q&804$)*&#9(S)4%a06&()&40'0%10&%(2&
KNJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMU
!,VVJKMW
XCY& M)&ZS)5&H#Q50*(&V9$(&N0&V#60
234% =7%=>?%Q?8D7;%:;%O>7D?%E3F78%=>?%7LC:<3=:7;%>3D%L??;%67;V
D=:=H=?9%2=>?%68?9:=784e
%
%
cVSWEG%*>:D%8?E?8D%=7%=>?%68?9:=78D%3=%=>?%=:I?%7E%Q3PV
I?;=R%('+%=>?%78:<:;3C%68?9:=78%3=%=>?%=:I?%=>?%7LC:<3=:7;%
O3D%67;D=:=H=?9S%7W",4'(%,()%D,(%K$)#'%19%o,0'#,%,()%
D'(4=%Q%K/*-9%PUB?9e
2L4% =7%=>?%4"&&$44'#A*(A*(+$#$4+%2C:^?%=>?%>?:8D4e
264%
=7%3;P%Q?8D7;%,"+/'#*k$)%=7%8?6?:F?%:=S
%
%
7VSWEG%*>?%3H=>78:T3=:7;%I3P%L?%LP%,J#$$0$(+%78%
LP%-,.9?
%
%
cVSWEG%"E%=>?%8?6:Q:?;=%O3D%;7=%3H=>78:T?9R%=>?%Q3PV
I?;=% <?;?83CCP% :D% -&*% F3C:9% 2O:=>7H=% Q8?WH9:6?% =7% 58=S%
/JM/4S%7b$$-$#%E-$&9%['9%19%X')#*J"$k=%@@%K/*-9%:>h%S#0,&/$,%
19%W#*--,(,=%:P%K/*-9%:>@h%,()%[#*4'-%19%[-,1$#'(=%P<%S9N9%
V'9%:B;=%!9%PCP@?9e
X?Y& !#$0$&
&
&
\#44Q&J2&k00"04&J"0'(4%'&!)2&12&/)64%.90a
FF&HS%"2&CD
&
%
H8[WDG% @798:<H?T% 7O?9% =>?% 67IQ3;P% 3% 6?8=3:;% 3I7H;=%
7E%I7;?PS%&;?%A7;=?C:L3;7%3QQ8736>?9%@798:<H?T%3;9%6C3:I?9%
=>3=%>?%2A7;=?C:L3;74%O3D%9HCP%3H=>78:T?9%=7%8?6?:F?%Q3PI?;=%
E78%=>?%67IQ3;PS%c:=>7H=%I3^:;<%3;P%F?8:!%63=:7;R%@798:<H?T%
Q3:9%A7;=?C:L3;7S%$3=?8R%=>?%67IQ3;P%DH?9%@798:<H?T%E78%Q3PV
I?;=% 7E% 9?L=S% @798:<H?T% Q8?D?;=?9% =>?% 9?E?;D?% =>3=% >?% >39%
3C8?39P%Q3:9%>:D%9?L=%=7%A7;=?C:L3;7%O>7%O3D%;7=%3H=>78:T?9%
=7%8?6?:F?%Q3PI?;=S%R44"$G%.>7HC9%@798:<H?T%D=:CC%Q3P%>:D%9?L=%
=7%=>?%67IQ3;Pf
%
%
`EOIG%B?DS%@798:<H?T_D%Q3PI?;=%=7%A7;=?C:L3;7%O3D%;7=%
F3C:9%L?63HD?%A7;=?C:L3;7%O3D%;7=%9HCP%3H=>78:T?9%=7%8?6?:F?%
DH6>%Q3PI?;=S%,3PI?;=%=7%3;%H;3H=>78:T?9%3<?;=%:D%3=%=>?%8:D^%7E%
=>?%Q3P78S%@798:<H?T%D>7HC9%>3F?%I39?%3%Q87Q?8%F?8:!%63=:7;S
KNK
%
58=S%/JMU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
,45#'S0#&12&M4%""#*#
CB&HS%"2&CDF
&
%
H8[WDG%,C3:;=:EE%O3D%E78I?8CP%3%I?IL?8%7E%3%Q38=;?8D>:QR%
3;9%HQ7;%9:DD7CH=:7;%7E%D3:9%Q38=;?8D>:QR%>?%O3D%<:F?;%=>?%8:<>=%
=7%67CC?6=%=>?%9?L=D%9H?%=>?%Q38=;?8D>:QS%,C3:;=:EE%DH?9%=>?%9?V
E?;93;=S%'?E?;93;=%Q8?D?;=?9%3%;7=?%D:<;?9%LP%$3O3R%=>?%E78I?8%
39I:;:D=83=78%7E%=>?%Q38=;?8D>:QR%=7%=>?%?EE?6=%=>3=%9?E?;93;=_D%
9?L=% >39% 3C8?39P% L??;% ?Z=:;<H:D>?9S% +7O?F?8R% =>?% 1,-$4% D=:CC%
8?I3:;?9%:;%=>?%Q7DD?DD:7;%7E%=>?%QC3:;=:EES
%
%
RDD_EDG
/4%
c>3=%:D%=>?%F3CH?%7E%=>?%1,-$4%L?:;<%D=:CC%:;%=>?%>3;9D%7E%
=>?%QC3:;=:EEf
J4%
c3D% $3O3% 3H=>78:T?9% =7% D3P% =>3=% =>?% 7LC:<3=:7;% 7E% =>?%
9?E?;93;=% O3D% ?Z=:;<H:D>?9R% ?F?;% :E% 3=% =>3=% =:I?% $3O3%
O3D%;7%C7;<?8%=>?%39I:;:D=83=78%7E%=>?%Q38=;?8D>:Q%2O>:6>%
:;6:9?;=3CCP%>3D%3C8?39P%L??;%9:DD7CF?94f
K4%
.>7HC9%=>?%9?E?;93;=%Q3P%=>?%QC3:;=:EEf
%
`EOIG
/4%
*>?% 1,-$4% D=:CC% :;% =>?% >3;9D% 7E% =>?% QC3:;=:EE% 67;D=:=H=?% 3%
Q8?DHIQ=:7;% =>3=% =>?% 9?L=% 7E% =>?% 9?E?;93;=% >3D% ;7=% P?=%
L??;%Q3:9S
J4%
$3O3%O3D%;7=%3H=>78:T?9%=7%D3P%=>3=%=>?%7LC:<3=:7;%7E%=>?%
9?E?;93;=% O3D% ?Z=:;<H:D>?9% L?63HD?% $3O3% O3D% 3=% =>3=%
=:I?%;7%C7;<?8%3H=>78:T?9%=7%8?6?:F?%Q3PI?;=D%:;%L?>3CE%
7E%=>?%Q38=;?8D>:QS%+39%>?%L??;%9HCP%3H=>78:T?9%=7%97%D7R%
=>:D%E36=%O7HC9%>3F?%8?LH==?9%=>?%Q8?DHIQ=:7;%8?<389:;<%
=>?%;7;VQ3PI?;=%7E%=>?%9?L=R%3;9%O7HC9%>3F?%?Z=:;<H:D>?9%
=>?%9?L=%:;3DIH6>%3D%Q8?DHI3LCP%:=%>39%L??;%Q3:9%=7%7;?%
3H=>78:T?9%=7%8?6?:F?%=>?%Q3PI?;=S
K4%
B?DR% =>?% 9?E?;93;=% D>7HC9% Q3P% =>?% QC3:;=:EE% L?63HD?% =>?%
9?E?;93;=%>3D%;7=%DH66??9?9%:;%Q87F:;<%=>3=%>:D%9?L=%>3D%
L??;%Q3:9S
&
&
!4%$)"&12&!"#104)*
BE&,2O2&K)2&C=<@&82&BPBF
%
%
H8[WDG%!8:D7C%O3D%=>?%68?9:=78%7E%!C3F?87;S%c>?;%!8:D7C_D%
!%8D=%O:E?%9:?9R%>?%9:D=8:LH=?9%=>?%Q87Q?8=P%3I7;<%>:D%6>:C98?;S%
KNM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMU
$3=?8% !8:D7C% I388:?9% 3<3:;S% 5E=?8% !8:D7C_D% 9?3=>% =>?% 6>:C98?;%
3D^?9%!C3F?87;%=7%Q3P%=>?I%>:D%9?L=S%!C3F?87;%:;D=?39%Q3:9%=>?%
D?67;9%O:E?R%O>7%O3D%9?6C38?9%H;3H=>78:T?9%LP%=>?%67H8=S%R44"$G%
"D%!C3F?87;_D%9?L=%?Z=:;<H:D>?9f
%
%
`EOIG% -7R% !C3F?87;_D% 9?L=% :D% ;7=% ?Z=:;<H:D>?9% L?63HD?%
=>?%Q?8D7;%=7%O>7I%>?%>39%I39?%=>?%Q3PI?;=%O3D%;7=%3H=>78V
:T?9%=7%8?6?:F?%:=S%b?D:9?DR%=>?%>?:8D%7E%!8:D7C%>39%3C8?39P%I39?%
3% 9?I3;9% HQ7;% !C3F?87;R% P?=% !C3F?87;% 8?EHD?9% =7% >??9% D3:9%
9?I3;9S%+?%IHD=%;7O%Q3P%E78%>:D%D=HLL78;;?DDS
XBY& H#Q50*(&V#60&()&79(S)4%a06&J*(%(%0$
&
%
,3PI?;=% I39?% =7% ?;=:=:?D% 3H=>78:T?9% LP% 3;% 766HQ3=:7;%
<7F?8;I?;=%2C:^?%=>?%g3Q3;?D?%766HQ3=:7;%<7F?8;I?;=%:;%=>?%
,>:C:QQ:;?D4%7E%9?L=D%:;%E3F78%7E%?;?IP%Q?8D7;D%3;9%678Q783=:7;DR%
D>7HC9% L?% 67;D:9?8?9% 3D% F3C:9R% L?63HD?% 3% L?CC:<?8?;=% I:C:=38P%
766HQ3;=%>3D%=>?%8:<>=%H;9?8%";=?8;3=:7;3C%$3O%=7%D?XH?D=?8%
78%E8??T?%=>?%3DD?=D%7E%=>?%?;?IPS%7`,.%K*,%19%[/*(,%Z,(L*(J%
['#!9=%<U%K/*-9%;U@?9
&
&
\#R&H%#&12&!S%*#&N#*T%*.&!)48)4#(%)*
E>&HS%"2&<>F
%
%
H8[WDG%+3O%,:3%7O?9%9?E?;93;=%3%DHI%7E%I7;?P%2,>:C:QV
Q:;?%Q?D7D4%D?6H8?9%LP%3%I78=<3<?S%'H8:;<%=>?%g3Q3;?D?%766HV
Q3=:7;R%=>?%b3;^%7E%*3:O3;%O3D%<:F?;%=>?%8:<>=%LP%=>?%A:C:=38P%
59I:;:D=83=:7;% =7% C:XH:93=?% =>?% 3DD?=D% 7E% ?;?IP% L3;^DS% +3O%
,:3%=>?;%Q3:9%7EE%=>?%I78=<3<?R%;7=%=7%=>?%9?E?;93;=R%LH=%=7%=>?%
b3;^%7E%*3:O3;S%$:L?83=:7;%63I?S%+3O%,:3%:D%;7O%3D^:;<%E78%
=>?%63;6?CC3=:7;%7E%=>?%I78=<3<?%7;%=>?%<87H;9%=>3=%:=%>39%L??;%
Q3:9S%*>?%9?E?;93;=%8?EHD?9R%3;9%7;%=>?%67;=838P%3D^?9%E78%Q3PV
I?;=%7E%=>?%9?L=S
%
RDD_EDG
234% +39% =>?% g3Q3;?D?% A:C:=38P% 59I:;:D=83=:7;% =>?% 8:<>=% =7%
C:XH:93=?%3;9%E8??T?%=>?%3DD?=D%7E%?;?IP%L3;^Df
2L4% ':9% Q3PI?;=% LP% +3O% ,:3% =7% =>?% b3;^% 7E% *3:O3;% ?Z=:;V
<H:D>?9%=>?%9?L=f
264%
c3D%g3Q3;?D?%I7;?P%=>?;%C?<3C%=?;9?8f
KN1
%
58=S%/JMU
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
`EOIG
234% B?DR% =>?% g3Q3;?D?% A:C:=38P% 59I:;:D=83=:7;R% H;9?8% =>?%
Q8:;6:QC?D%7E%:;=?8;3=:7;3C%C3OR%>39%=>?%8:<>=%=7%C:XH:93=?%
3;9% E8??T?% =>?% 3DD?=D% 7E% ?;?IP% L3;^DS% c>3=% :=% 9:9% O3D%
;7=%67;!%D63=:7;R%LH=%I?8?CP%C:XH:93=:7;%D7%3D%=7%E8??T?%3DV
D?=DS
2L4% B?DR%Q3PI?;=D%LP%+3O%,:3%=7%=>?%b3;^%7E%*3:O3;%?Z=:;V
<H:D>?9%=>?%I78=<3<?%9?L=R%:;3DIH6>%3D%H;9?8%=>?%C3O%=>?;%
Q8?F3:C:;<R%=>?%b3;^%7E%*3:O3;%O3D%3H=>78:T?9%=7%8?6?:F?%
Q3PI?;=S%+?;6?R%=>?%I78=<3<?%D>7HC9%L?%63;6?CC?9S
264%
B?DR%=>?%g3Q3;?D?%A:C:=38P%;7=?D%O3D%C?<3C%=?;9?8%L?63HD?%
H;9?8%";=?8;3=:7;3C%$3OR%=>?%:;F39:;<%Q7O?8%>3D%=>?%8:<>=%
=7%:DDH?%6H88?;6P%E78%6:86HC3=:7;%>?8?S
%
%
D"64*)*,#5% R44"$G% '7?D% ;7=% =>?% E36=% =>3=% =>?% 7LC:<3=:7;%
>?8?%=7%Q3P%:;%,>:C:QQ:;?%Q?D7%I3^?%:=%3;%7LC:<3=:7;%=7%Q3P%:;%3%
DQ?6:!%?9%DQ?6:?f
%
%
`EOIG%*8H?R%=>?%7LC:<3=:7;%O3D%=7%Q3P%:;%,>:C:QQ:;?%Q?D7DR%
LH=%=>:D%O3D%;7=%3%D=:QHC3=?9%DQ?6:?R%LH=%7LF:7HDCP%8?E?88?9%7;CP%
=7%=>?%C?<3C%=?;9?8%D:;6?%3E=?8%3CCR%=>?%I7D=%67II7;%766H88?;6?D%
38?%=83;D36=:7;D%:;%,>:C:QQ:;?%Q?D7DS%"=%O3D%;?F?8%=>?%:;=?;=:7;%
7E%=>?%Q38=:?D%=7%DQ?6:EP%=>3=%7;CP%,>:C:QQ:;?%Q?D7DR%7E%Q8?VO38%
F3CH3=:7;R%I3P%L?%Q3:9S%*>?%HD?%7E%=>?%=?8I%`,>:C:QQ:;?%Q?D7a%
>?8?%:D%I?8?CP%:;6:9?;=3CS
&
&
&
J1040((&G(0#5$S%8&!)48)4#(%)*&12
N#*T&)+&(S0&HS%"%88%*0&3$"#*6$
EF&HS%"2&?>?
&
%
H8[WDG% ,C3:;=:EE% :D% 3% 678Q783=:7;% :;% A3;:C3R% =>?% I3W78V
:=P% D=76^>7C9?8D% 7E% O>:6>% 38?% 5I?8:63;% 3;9% b8:=:D>% 6:=:T?;DS%
'?E?;93;=% :D% 3% L3;^:;<% 678Q783=:7;S% b?E78?% '?6?IL?8% /dM/R%
QC3:;=:EE%>39%3%6H88?;=%3667H;=%O:=>%=>?%9?E?;93;=R%3;9%7;%'?V
6?IL?8%JdR%/dM/R%=>?%QC3:;=:EE%>39%3%F3C:9%L3C3;6?%:;%:=D%E3F78%7E%
,1KR/]1S1/R%,>:C:QQ:;?%6H88?;6PS%'H8:;<%=>?%g3Q3;?D?%766HQ3V
=:7;R%=>?%7E!%6?8D%7E%=>?%QC3:;=:EE%678Q783=:7;%O?8?%:;=?8;?9%LP%=>?%
g3Q3;?D?%58I?9%)786?D%:;D:9?%=>?%i.*%67IQ7H;9S%bP%789?8%7E%
=>?%g3Q3;?D?%A:C:=38P%59I:;:D=83=:7;R%=>?%9?E?;93;=%O3D%I39?%
=7%=H8;%7F?8%=>?%3667H;=%7E%=>?%QC3:;=:EE%=7%=>?%b3;^%7E%*3:O3;R%
KNN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMU
=>?%9?Q7D:=78P%7E%(;?IP%,87Q?8=:?DS%*>?%9?E?;93;=%=>HD%<3F?%
=7%=>?%b3;^%7E%*3:O3;%3%6>?6^%:;%=>?%DHI%7E%,1KR/]1S1/S%5E=?8%
C:L?83=:7;R%QC3:;=:EE%O3;=?9%=7%983O%=>?%,1KR/]1S1/%:=%=>7H<>=%:=%
D=:CC%>39R%E87I%=>?%9?E?;93;=%L3;^S%*>?%C3==?8%QC?39?9%Q3PI?;=%
=7%=>?%b3;^%7E%*3:O3;S%R44"$G%A3P%=>?%QC3:;=:EE%D=:CC%8?67F?8%E87I%
=>?%9?E?;93;=f
%
%
`EOIG%`";%=>?%:;D=3;=%63D?R%=>?%:DDH?%:;F7CF?9%:D%O>?=>?8%
=>?%g3Q3;?D?%A:C:=38P%59I:;:D=83=:7;%67HC9%F3C:9CP%8?XH:8?%=>?%
9?E?;93;=V3QQ?CC3;=%=7%=83;DE?8%=7%=>?%b3;^%7E%*3:O3;%=>?%L3CV
3;6?%7E%QC3:;=:EE_D%6H88?;=%3667H;=%O:=>%=>?%9?E?;93;=S__
%
%
`";%=>?%`,.%K*,%63D?%=>?%D3I?%:DDH?%O3D%:;F7CF?9S%*>?%
!7H8=%8HC?9%:;%=>?%`,.%K*,%63D?%=>3=%=>?%67CC?6=:7;%LP%=>?%b3;^%
7E%*3:O3;%7E%=>?%!>:;3%b3;^:;<%!78Q783=:7;_D%68?9:=%E87I%=>?%
C3==?8_D%9?L=78R%LP%789?8%7E%=>?%g3Q3;?D?%I:C:=38P%39I:;:D=83V
=:7;R%O3D%F3C:9%3;9%8?C?3D?9%=>?%9?E?;93;=_D%7LC:<3=:7;%=7%=>?%
QC3:;=:EESa
&
&
/089-"%'&12&O4%U#"6)
:;?>?F>@&L0'2&BC@&CD<=
&
%
H8[WDG% ";% /dMKR% 3% L7887O?8% 7L=3:;?9% C73;D% E87I% =>?%
b3;^%7E%*3:O3;S%5E=?8%=>?%O38R%=>?%@?QHLC:6%7E%=>?%,>:C:QQ:;?D%
D7H<>=%=7%8?67F?8%=>?%C73;DS%"=%O3D%3CC?<?9%LP%=>?%9?L=78%=>3=%
=>?%@?QHLC:6%>39%;7%8:<>=%=7%67CC?6=%D:;6?%=>?%8?3C%68?9:=78%O3D%
=>?%b3;^%7E%*3:O3;S%"=%O3D%EH8=>?8%3CC?<?9%=>3=%=>?%C73;%O3D%3%
!#*1,+$%67;=836=%L?=O??;%=>?%L7887O?8%3;9%=>?%b3;^R%3;9%=>3=%
=>?8?E78?%=>?%@?QHLC:6%67HC9%;7=%C?<3CCP%67CC?6=S
%
%
`EOIG%"=%:D%=8H?%=>3=%=>?%b3;^%7E%*3:O3;%O3D%=>?%78:<:;3C%
68?9:=78R%3;9%=>3=%=>?%=83;D36=:7;%O3D%3%Q8:F3=?%67;=836=S%+7OV
?F?8R%QH8DH3;=%=7%=>?%*839:;<%O:=>%=>?%(;?IP%56=%3D%3I?;9?9R%
3;9%(ZS%&89?8%dUd1%7E%=>?%iS.SR%3;9%H;9?8%#?D=:;<%&89?8%,VMR%
93=?9%g3;S%J/R%/dMNR%=>?%Q87Q?8=:?D%7E%=>?%b3;^%7E%*3:O3;%O?8?%
F?D=?9%:;%=>?%iS.S%h7F?8;I?;=S%,H8DH3;=%EH8=>?8%=7%=>?%,>:C:QV
Q:;?%,87Q?8=P%56=%7E%/dMNR%3;9%=>?%*83;DE?8%5<8??I?;=D%93=?9%
gHCS%JUR%/d1M%3;9%gH;S%/1R%/d1]R%=>?%3DD?=D%7E%=>?%b3;^%O?8?%
=83;DE?88?9% =7% 3;9% F?D=?9% :;% =>?% @?QHLC:6% 7E% =>?% ,>:C:QQ:;?DS%
.:;6?%=>?%@?QHLC:6%:D%=>?%4"&&$44'#%=7%=>?%8:<>=D%:;%=>?%C73;DR%
:=%:D%?F:9?;=%=>3=%=>?8?%>3D%L??;%68?3=?9%3%Q8:F:=P%7E%67;=836=%
L?=O??;%=>?%@?QHLC:6%3;9%=>?%L7887O?8R%?;3LC:;<%=>?%@?QHLC:6%
=7%DH?%E78%67CC?6=:7;S%
KN]
%
58=S%/JMU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
cVSWEG%"E%=>?%I7;?P%:D%Q3:9%=7%=>?%O87;<%Q38=P%:;%<779%
E3:=>R%=>?%9?L=%:D%;7=%?Z=:;<H:D>?9S%A78?7F?8R%=>?%7LC:<3=:7;%638V
8:?D%O:=>%:=%=>?%Q3PI?;=%7E%:;=?8?D=%3;9%=>?%:;=?8?D=%67;=:;H?D%
=7%8H;S%7D$$%b$$-$#%E-$&+#*&%['9%19%X')#*J"$k=%@@%K/*-9%:>?9e
&
&
74'#'S0&12&:%a#40$&f&!)2
DC&HS%"2&BFE
&
%
H8[WDG%I%7O?9%[9%";D=?39%7E%Q3P:;<%[=%I%9?Q7D:=?9%=>?%
I7;?P%:;%3%L3;^%*(%+/$%(,0$%,()%2'#%+/$%&#$)*+%'2%[9%5CC%=>?D?%
O?8?% 97;?% O:=>7H=% [\4% Q?8I:DD:7;S% R44"$G% +3D% =>?% 9?L=% L??;%
?Z=:;<H:D>?9f
%
%
`EOIG%-7S%bH=%:E%3E=?8%?EE78=D%>39%L??;%I39?R%=>?%68?9:=78%
67HC9%;7=%L?%E7H;9R%Q38=:6HC38CP%3=%=>?%QC36?%O>?8?%Q3PI?;=%:D%
DHQQ7D?9% =7% L?% I39?R% =>?% 9?L=78% &,(('+% L?% >?C9% <H:C=P% 7E% 9?V
E3HC=S
&
&
HS%"2&K#(2&N#*T&12&J40*0(#@&0(&#"2
:;CB>=E@&79.2&?E@&CD=D
&
%
i;9?8%=>?%7C9%C3OR%@?QS%56=%0d]R%=>?%366?Q=3;6?%7E%L36^Q3P%
6?8=:!%63=?D%:;%Q3PI?;=%7E%C73;D%=7%<7F?8;I?;=%678Q783=:7;D%O3D%
:;9??9%3;%7LC:<3=:7;%HQ7;%=>?%,>:CS%-3=S%b3;^S%+7O?F?8R%=>?%
?;36=I?;=%7E%@?QS%56=%/1]NR%93=?9%gH;S%/NR%/dN1R%O>:6>%399?9%
3%;?O%Q87F:D:7;R%.?6=:7;%dV3R%=7%=>?%@?F:D?9%!>38=?8%7E%=>?%,-bR%
8?I7F?D%=>:D%7LC:<3=:7;%:IQ7D?9%HQ7;%D3:9%b3;^S
&
&
&
A)$0!&*#&/9%a&60&:9a94%#.#&N"#*')&12
!)58#*%#&O0*04#"&60&M#-#')$&60&b%"%8%*#$@&0(&#"2
:;C>EC>@&K)12&?D@&CD<>
&
%
H8[WDG% ,C3:;=:EED% ?;=8HD=?9% 6?8=3:;% L7;9D% =7% =>?% *3L3V
63C?83%O>:6>%=>?P%3CD7%I39?%=>?:8%9?Q7D:=78PR%=8HD=??R%3;9%3=V
=78;?PV:;VE36=S%*>?%L7;9DR%:DDH?9%LP%3%*38C36%.H<38%!?;=83CR%E?CC%
9H?%7;%78%L?E78?%-7FS%/1R%/dMKS%b?E78?%D3:9%93=?R%=>?%!?;=83C%
;7=:!%?9%=>?%*3L363C?83%7E%:=D%:;=?;=:7;%=7%8?9??I%D3:9%L7;9DS%
*3L363C?83%=>?;%3CC7O?9%=>?%8?9?IQ=:7;S%*>?%I7;?P%7L=3:;?9%
O3D%=>?;%9?Q7D:=?9%:;%=>?%b3;^%7E%*3:O3;%:;%=>?%;3I?%7E%*3L3V
63C?83R%3D%9?Q7D:=38PR%=8HD=??R%3;9%3==78;?PV:;VE36=%E78%QC3:;=:EEDS%
*>:D%O3D%97;?R%>7O?F?8R%LP%*3L363C?83%O:=>7H=%;7=:EP:;<%=>?%
KN0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JM/
QC3:;=:EED%!%8D=S%c:=>%=>?%39F?;=%7E%C:L?83=:7;R%9?Q7D:=D%O:=>%=>?%
b3;^% 7E% *3:O3;% O?8?% 8?;9?8?9% O78=>C?DDS% R44"$G% c3D% *3L3V
63C?83_D%36=%7E%67;D?;=:;<%=7%=>?%8?9?IQ=:7;%F3C:9%3;9%L:;9:;<%
7;%=>?%QC3:;=:EEDf
%
%
`EOIG% B?DR% L?63HD?% H;9?8% =>?% =?8ID% 7E% =>?% L7;9DR% =>?%
.H<38%!?;=83C%>39%=>?%8:<>=%=7%8?9??I%=>?%L7;9D%7;%78%L?E78?%=>?%
93=?%DQ?6:!%?9R%3;9%*3L363C?83%>39%L??;%Q87Q?8CP%I39?%=>?%3=V
=78;?PV:;VE36=%7E%=>?%QC3:;=:EEDS%-7%;7=:6?%O3D%;??9?9%Y%H;9?8%=>?%
3<8??I?;=%L?=O??;%*3L363C?83%3;9%=>?%QC3:;=:EEDS%b?D:9?DR%=>?%
8?9?IQ=:7;%O3D%Q87Q?8CP%I39?%:;%g3Q3;?D?%6H88?;6P%Y%O>:6>%
O3D% =>?;% F3C:9% C?<3C% =?;9?8S% *3L363C?83% O3DR% =>?8?E78?R% 8:<>=%
:;%DH88?;9:;<%=>?%L7;9D%=>3=%O?8?%L?:;<%8?9??I?9S%,C3:;=:EED%
IHD=R%=>?8?E78?R%L?38%=>?%C7DDS
&
&
&
/%6)&V)*(0'%"")&12&3.*#'%#&/0Q*0$&f&G8$2&/06058()4&
f&J"%$#&7-9'#Q
O/&CBE>CE@&A9"2&?<@&?>>?
%
%
H8[WDG%,?=:=:7;?8%A7;=?6:CC7_D%'??9%7E%.3C?%97?D%;7=%D=3=?%
=>3=%=>?%,M]RUUU%QH86>3D?%Q8:6?%D>7HC9%L?%Q3:9%LP%=>?%E78I?8%=7%
!?LH%"6?%.=783<?%2!".4S%A7;=?6:CC7%E3:C?9%=7%399H6?%3;P%?F:9?;6?%
L?E78?%=>?%=8:3C%67H8=%D>7O:;<%=>3=%@?P;?D%>39%3<8??9R%F?8L3CCP%
78%:;%O8:=:;<%=>3=%=>?%,M]RUUU%QH86>3D?%Q8:6?%D>7HC9%L?%Q3:9%=7%
!".S
%
%
`EOIG% 5LD?;=% 3;P% ?F:9?;6?% D>7O:;<% =>3=% 8?DQ7;9?;=%
>39%3<8??9%=7%=>?%Q3PI?;=%7E%=>?%QH86>3D?%Q8:6?%=7%3;P%7=>?8%
Q38=PR%=>?%Q3PI?;=%=7%L?%?EE?6=:F?%IHD=%L?%I39?%=7%8?DQ7;9?;=R%
=>?%F?;978%:;%=>?%D3C?S%*>HDR%Q?=:=:7;?8_D%Q3PI?;=%=7%!".%:D%;7=%
=>?%Q3PI?;=%=>3=%O7HC9%?Z=:;<H:D>%=>?%E78I?8_D%7LC:<3=:7;%=7%
8?DQ7;9?;=%H;9?8%=>?%'??9%7E%.3C?S
&
74(2&C?FC2&H#Q50*(&()&#&804$)*&RS)&%$&%*'#8#'%(#(06&()&
#65%*%$(04&S%$&84)804(Q&$S#""&-0&1#"%6&%+&S0&S#$&T08(&(S0&(S%*.&
60"%10406@& )4& %*$)+#4& #$& (S0& 8#Q50*(& S#$& -00*& -0*0!&'%#"& ()&
S%52
&
H#Q50*(&5#60&()&#&(S%46&804$)*&$S#""&#"$)&-0&1#"%6&%*$)+#4&
#$&%(&S#$&406)9*606&()&(S0&-0*0!&(&)+&(S0&'406%()42&G9'S&-0*0!&(&
()&(S0&'406%()4&*006&*)(&-0&84)106&%*&(S0&+)"")R%*.&'#$0$W
KNd
%
58=S%/JM/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
XCY& 3+&#+(04&(S0&8#Q50*(@&(S0&(S%46&804$)*&#'_9%40$&(S0&
'406%()4d$&4%.S($h
&
X?Y& 3+&(S0&'406%()4&4#(%!&0$&(S0&8#Q50*(&()&(S0&(S%46&804;
$)*h
&
XBY& 3+&-Q&(S0&'406%()4d$&')*69'(@&(S0&60-()4&S#$&-00*&"06&
()&-0"%010&(S#(&(S0&(S%46&804$)*&S#6&#9(S)4%(Q&()&40'0%10&(S0&
8#Q50*(2
!,VVJKMW
XCY& H#Q50*(&()&3*'#8#'%(#(06&)4&I*#9(S)4%a06&H04$)*$
&
%
*>?%!%8D=%Q383<83Q>%9?3CD%O:=>%Q3PI?;=%=7%3;%"-!5,5!"V
*5*('%Q?8D7;e%=>?%D?67;9%9?3CD%O:=>%Q3PI?;=%=7%3;%i-5iV
*+&@"r('%=>:89%Q?8D7;S
X?Y& b%4$(& H#4#.4#8S& m& H#Q50*(& ()& #*& 3*'#8#'%(#(06& H04;
$)*
234% "D%Q3PI?;=%=7%3%Q?8D7;%:;63Q36:=3=?9%=7%I3;3<?%78%39I:;V
:D=?8%>:D%Q87Q?8=P%F3C:9f
%
%
8VD9G%.H6>%Q3PI?;=%:D%F3C:9%7;CPG
/4%
:E%=>?%:;63Q36:=3=?9%Q?8D7;%>3D%^?Q=%=>?%=>:;<%9?C:FV
?8?9e%78
J4%
:;D7E38%3D%=>?%Q3PI?;=%>3D%L??;%L?;?!%6:3C%=7%>:IS%
7:4+%4$(+$(&$=%8#+9%:Q@:=%[*1*-%[')$?9
2L4% 8%7O?D%Z%,/RUUURUUUS%c>?;%8%Q3:9%ZR%=>?%C3==?8%O3D%3C8?39P%
:;D3;?S%+7O?F?8R%=>?%I7;?P%O3D%;?F?8%DQ?;=R%3;9%:D%D=:CC%
:;%=>?%Q7DD?DD:7;%7E%Z9%"D%8\4%7LC:<3=:7;%?Z=:;<H:D>?9f
%
%
8VD9G% B?DR% 8\4% 7LC:<3=:7;% :D% 3C8?39P% ?Z=:;<H:D>?9%
LP%F:8=H?%7E%8\4%Q3PI?;=%=7%ZS%*8H?R%Z%O3D%:;63Q36:=3=?9%
=7%39I:;:D=?8%>:D%7O;%Q87Q?8=PR%P?=%Z%>3D%^?Q=%=>?%=>:;<%
9?C:F?8?9S%+?;6?R%8\4%Q3PI?;=%:D%F3C:9S
264%
";%XH?D=:7;%2L4R%DHQQ7D?%=>3=%3%DO:;9C?8%>39%3D^?9%Z%E78%
,/RUUURUUU%:;%?Z6>3;<?%E78%3%8:;<%O78=>%,1UURUUUR%97?D%
8\4%Q3PI?;=%=7%Z%8?I3:;%F3C:9f
%
%
8VD9G%8\4%Q3PI?;=%=7%Z%8?I3:;D%F3C:9%7;CP%HQ%=7%=>?%
?Z=?;=%7E%,1UURUUUR%L?63HD?%=>:D%:D%7;CP%=>?%3I7H;=%O>:6>%
K]U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JM/
Z%8?3CCP%L?;?!%=?9%E87I%8\4%Q3PI?;=%=7%>:IS%8\4%Q3PI?;=%
:D%=>HD%F3C:9%7;CP%:;D7E38%3D%=>?%Q3PI?;=%>3D%L?;?!%=?9%=>?%
:;63Q36:=3=?9%Q3P??S
294% c>7%>3D%=>?%LH89?;%7E%Q87F:;<%=>3=%=>?%Q3PI?;=%>3D%L?;V
?!%=?9%=>?%:;63Q36:=3=?9%Q3P??f
%
8VD9G%*>?%7;?%O>7%I39?%=>?%Q3PI?;=%>3D%=>?%LH89?;%7E%
Q87F:;<%=>3=%:=%L?;?!%=?9%=>?%:;63Q36:=3=?9%Q3P??S%7K,(J,(*A
6,(%19%["$1,4=%C%K/*-9%@CC?9%*>?%L?;?!%=%I3P%L?%!%;3;6:3CR%
I783C%78%:;=?CC?6=H3C%LH=%:=%IHD=%L?%Q87F?9S%7R6*)9?9
2?4% ";%Q87F:;<%=>3=%=>?%:;63Q36:=3=?9%Q3P??%8?3CCP%L?;?!%=?9%
E87I%=>?%Q3PI?;=R%:D%:=%;?6?DD38P%E78%=>?%Q3P78%=7%Q87F?%
=>3=%=>?%Q3P??%:;F?D=?9%=>?%=>:;<%78%I7;?P%9?C:F?8?9%:;%
D7I?%Q87!%=3LC?%?;=?8Q8:D?f
%
8VD9G%-7R%Q877E%7E%:;F?D=I?;=%:D%;7=%;?6?DD38PS%5CC%=>3=%:D%
;??9?9%:D%Q877E%=>3=%Q3PI?;=%=7%=>?%:;63Q36:=3=?9%Q3P??%
>3D%:;%D7I?%O3P%78%3;7=>?8%8?97H;9?9%=7%=>?%L?;?!%=%7E%=>?%
Q3P??S%5E=?8%3CCR%=>:D%:D%3CC%=>3=%=>?%C3O%8?XH:8?DS%7<%T,(#$4,%
Q<Q?9
2E4%
5%<779%?Z3IQC?%7E%L?;?!%6:3C%Q3PI?;=%=7%=>?%:;63Q36:=3=?9%
Q?8D7;%:D%O>?;%=>?%I7;?P%>3D%L??;%HD?9%E78%Q87Q?8%>7DQ:=3C%
78%QDP6>:3=8:6%?ZQ?;D?DS
2<4% "E%:;9??9%=>?8?%>3D%L??;%;7%L?;?!%=R%O>3=%8?I?9P%:D%<:FV
?;f
%
8VD9G%*>?%Q3PI?;=%:D%;7=%F3C:9e%=>?8?E78?R%=>?%C?<3C%8?QV
8?D?;=3=:F?%7E%=>?%:;63Q36:=3=?9%Q?8D7;%63;%9?I3;9%3%;?O%
Q3PI?;=%7;%L?>3CE%7E%>:D%O389S%*>?%O389%>:ID?CER%D>7HC9%
>?%8?<3:;%63Q36:=PR%:D%3CC7O?9%=7%6C3:I%3%;?O%Q3PI?;=S%7<%
T,(#$4,%QC>?9
XBY& G0')*6&H#4#.4#8S&m&H#Q50*(&()&#&MS%46&H#4(Q&K)(&L9"Q&
79(S)4%a06
234% (EE?6=%:;%<?;?83C%7E%Q3PI?;=%=7%=>:89%Q38=PG%*>?%Q3PI?;=%:D%
F3C:9%bi*%7;CP%=7%=>?%?Z=?;=%7E%L?;?!%=%2!%;3;6:3CR%I783CR%78%
:;=?CC?6=H3C4%=7%=>?%68?9:=78S%*>?%Q3PI?;=%IHD=%L?%Q87F?9%
7K,(J,(*6,(%19%["$1,4=%C%K/*-9%@CC?R%3;9%:DR%=>?8?E78?R%;7=%
Q8?DHI?9%?Z6?Q=%:;%=>?%=>8??%:;D=3;6?D%Q87F:9?9%E78%:;%=>?%
D?67;9%Q383<83Q>%7E%58=S%/JM/S
K]/
%
58=S%/JMJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2L4% (Z3IQC?D%7E%O>?;%L?;?!%=%=7%=>?%68?9:=78%:D%Q8?DHI?9G
264%
/4%
"E%3E=?8%Q3PI?;=%=>?%=>:89%Q?8D7;%36XH:8?D%=>?%68?9:V
=78_D%8:<>=De
%
%
2EF,0!-$G%5;%:IQ7D=78V3<?;=R%3E=?8%Q3PI?;=%=7%
>:IR%L?67I?D%=>?%7O;?8%7E%=>?%67IQ3;PV68?9:=78S4
J4%
"E%=>?%68?9:=78%83=:!%?D%=>?%Q3PI?;=%=7%=>?%=>:89%Q?8V
D7;e
%
%
2EF,0!-$G% "E% =>?% A?83C67R% 3% E?O% 93PD% 3E=?8% :=D%
H;3H=>78:T?9%67CC?6=78%>39%67CC?6=?9%E87I%P7HR%=?CCD%
P7H% =>3=% =>?% Q3PI?;=% =7% >:I% :D% 3CC% 8:<>=S% +?8?% =>?%
9?E?6=%:D%6H8?9S4
K4%
"E%LP%=>?%68?9:=78_D%67;9H6=R%=>?%9?L=78%>3D%L??;%C?9%=7%
I3^?%=>?%Q3PI?;=S%2*>:D%:D%3%63D?%7E%$4+'!!$-R%3D%O>?;%
=>?%:IQ7D=78V3<?;=%>39%L??;%<:F?;%LP%=>?%A?83C67%=>?%
HDH3C%"(*2'#0%E78%67CC?6=78DS4
@HC?%O:=>%8?E?8?;6?%=7%6>?6^DS
&
&
H0)8"0&12&g#-9(
:;F?EFP@&:;F?D>?@&7842&?D@&CDPP
%
%
'?C:F?8P%=7%=>?%I?DD?;<?8%7E%=>?%Q3P??%7E%3%6>?6^%:D%;7=%
P?=%9?C:F?8P%=7%=>?%Q3P??%O:=>:;%=>?%67;=?Z=%7E%=>?%-?<7=:3LC?%
";D=8HI?;=D%$3OS
%
%
2VSWEG%*>:D%8HC:;<%:D%7E%97HL=EHC%F3C:9:=P%L?63HD?%3D%C7;<%
3D%=>?%I?DD?;<?8%O3D%9HCP%3H=>78:T?9%LP%=>?%Q3P??R%9?C:F?8P%=7%
=>?%I?DD?;<?8%[3;9%3<?;=\%D>7HC9%L?%67;D:9?8?9%3D%9?C:F?8P%=7%
=>?%Q3P??S4
%
74(2&C?F?2&H#Q50*(&5#60&%*&.))6&+#%(S&()&#*Q&804$)*&%*&
8)$$0$$%)*&)+&(S0&'406%(&$S#""&40"0#$0&(S0&60-()42
!,VVJKMW
XCY& H#Q50*(&V#60&%*&O))6&b#%(S&()&#&H04$)*&%*&H)$$0$$%)*&
)+&(S0&!406%(
&
%
*>?%58=:6C?%:D%,('+/$#%:;D=3;6?%7E%3%F3C:9%Q3PI?;=S
K]J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMJ
X?Y& /0_9%$%(0$
234% ,3PI?;=% LP% Q3P78% IHD=% L?% I39?% :;% J'')% 2,*+/% 2=>:D% :D%
Q8?DHI?94%2LH=%Q3P??%I3P%L?%:;%J'')%78%6,)%E3:=>4S
2L4% *>?% Q3P??% IHD=% L?% :;% !'44$44*'(% '2% +/$% &#$)*+% *+4$-2% 2;7=%
I?8?CP%=>?%)'&"0$(+%?F:9?;6:;<%=>?%68?9:=4S
%
%
2VSWEG%c>?;%7;?%Q7DD?DD?D%=>?%68?9:=R%=>?8?%:D%&'-'#%
7E%+*+-$%=7%:=S4
XBY& J`#58"0$&)+&#&H04$)*&%*&H)$$0$$%)*&)+&(S0&!406%(
234% ^%E7H;9%3%;?<7=:3LC?%Q87I:DD78P%;7=?%!,5,6-$%=7%6$,#$#9%
2"E%=>?%I3^?8%=>?8?7E%Q3PD%:;%<779%E3:=>%=7%^=%=>?%9?L=%:D%
?Z=:;<H:D>?9R%?F?;%:E%^%O3D%;7=%?;=:=C?9%=7%:=S4
%
`EOIG%"E%=>?%Q87I:DD78P%;7=?%O3D%Q3P3LC?%=7%3%DQ?6:!%6%Q?8V
D7;%f=%=>?;%Q3PI?;=%=7%^%:D%;7=%F3C:9R%L?63HD?%^%O7HC9%L?%
=>?%Q7DD?DD78%7;CP%7E%=>?%976HI?;=R%('+%=>?%68?9:=%:=D?CES
2L4% ^=%3%Q8?DHI?9%>?:8R%?;=?8?9%HQ7;%3;%:;>?8:=3;6?R%&'--$&+$)%
+/$%&#$)*+4%7E%=>?%?D=3=?R%LH=%O3D%C3=?8%9?6C38?9%LP%=>?%67H8=%
=7%L?%:;63Q36:=3=?9%=7%:;>?8:=S%2,3PI?;=%7E%=>?%68?9:=%=7%^%
?Z=:;<H:D>?9%=>?%7LC:<3=:7;S4
XFY& !#$0
&
&
G8$2&7"'#4#a&12&M#*..#;#*
O/&C?E=<E@&7842&D@&?>>B
%
%
H8[WDG% ,?=:=:7;?8VDQ7HD?D% 3F?8% =>3=% =>?:8% Q3PI?;=D% =7%
#:8<:C:7%2O>7%DHQQ7D?9CP%L?63I?%=>?%;?O%7O;?8%7E%=>?%>7HD?%
3E=?8%36XH:8:;<%=:=C?%=7%=>?%C7=4%L?<:;;:;<%-7FS%/ddK%O?8?%Q3PV
I?;=D%I39?%:;%<779%E3:=>%=7%3%Q?8D7;%:;%Q7DD?DD:7;%7E%=>?%68?9:=R%
:;%67;D7;3;6?%O:=>%58=S%/JMJS%,3PI?;=%I39?%:;%<779%E3:=>%=7%
3;P%Q?8D7;%:;%Q7DD?DD:7;%7E%=>?%68?9:=%D>3CC%8?C?3D?%=>?%9?L=78S%
*>:DR% Q?=:=:7;?8VDQ7HD?D% Q7:;=% 7H=R% 8?C?3D?9% =>?I% E87I% =>?:8%
7LC:<3=:7;S%*>?P%6C3:I%=>3=%#:8<:C:7%67CC?6=?9%=>?%8?;=3CD%:;%>:D%
63Q36:=P%3D%3%67V7O;?8R%3;9%L?:;<%3%D7;%7E%#:8<:;:3%2>HDL3;9%7E%
8?DQ7;9?;=%,?987%W,(JJ,A,(4R%>?%2#:8<:C:74%O3D%3CD7%?;=:=C?9%=7%
=>?%8?;=%7E%=>?%DHLW?6=%>7HD?S
%
%
`EOIG%*>:D%67;=?;=:7;%:D%:;6788?6=S%#:8<:C:7%67CC?6=?9%=>?%
8?;=3CD%;7=%3D%3%67V7O;?8%LH=%3D%=>?%3CC?<?9%D7C?%7O;?8%7E%=>?%
K]K
%
58=S%/JMJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
DHLW?6=% >7HD?S% ,?=:=:7;?8VDQ7HD?D% =>?ID?CF?D% 39I:==?9% =>3=%
#:8<:C:7%6C3:I?9%D7C?%7O;?8D>:Q%7E%=>?%>7HD?%3;9%C7=S%"=%O7HC9%
L?%:;67;<8H7HD%E78%=>?I%=7%;7O%3DD?8=%Q3PI?;=%:;%<779%E3:=>%=7%
3%Q?8D7;%=>?P%L?C:?F?9%O3D%67CC?6=:;<%:;%L?>3CE%7E%>:D%67V>?:8D%
3E=?8%39I:==:;<%=>3=%=>?P%Q3:9%8?;=%=7%#:8<:C:7%3D%=>?%D7C?%7O;?8%
=>?8?7ES%+?;6?R%E78%F:7C3=:;<%=>?%=?8ID%7E%=>?%C?3D?%67;=836=R%*9$9=%
Q3PI?;=%7E%8?;=R%8?DQ7;9?;=D%63;%C?<3CCP%9?I3;9%=>?%?W?6=I?;=%
7E%Q?=:=:7;?8VDQ7HD?DS
X=Y& N0""%.040*(&,''98#*(
%
%
c>:C?%3%L?CC:<?8?;=%766HQ3;=%DH6>%3D%=>?%g3Q3;?D?%58I?9%
)786?D% 9H8:;<% =>?% c78C9% c38% ""% I3P% D?XH?D=?8% 3;% ?;?IP_D%
Q8:F3=?%68?9:=%7`,.%K*,%19%[/*(,%Z,(L*(J%['#!9=%<U%K/*-9%;U@%
,()%N*664%19%X')#*J"$k=%@C%S9N9%:<;?=%I?8?%3==36>I?;=%7E%=>?%
Q87Q?8=PR%O:=>7H=%36=H3C%67;!%D63=:7;R%97?D%;7=%67;E?8%Q7DD?DD:7;%
HQ7;%D3:9%L?CC:<?8?;=S%.H6>%3==36>I?;=%78%?IL38<7%I?8?CP%Q87V
>:L:=D%=>?%7O;?8%E87I%9:DQ7D:;<%=>?8?7ES%*>:D%:D%('%D?<8?<3=:7;%78%
D?XH?D=83=:7;%7E%=>?%Q87Q?8=:?De%>?;6?R%Q3PI?;=%=7%DH6>%L?CC:<?8V
?;=R%O>7%:D%('+%:;%Q7DD?DD:7;%7E%=>?%68?9:=R%97?D%;7=%?Z=:;<H:D>%
=>?%7LC:<3=:7;R%O>?=>?8%Q3PI?;=%:D%I39?%:;%<779%E3:=>%78%;7=S%
7K,(J,(*6,(%19%["$1,4=%C%K/*-9%@CC?9
&
&
H#*.#*%-#*&12&!901#$
P&HS%"2&FPP
&
%
H8[WDG% ,3;<3;:L3;% D7C9% ,% #$+#'% :;% /0d]% >:D% Q386?C% 7E%
C3;9%=7%h7;T3C?DR%LH=%DHLD?XH?;=CP%D3:9%C3;9%O3D%3==36>?9%LP%
=>?%8?F7CH=:7;38P%<7F?8;I?;=S%b?63HD?%>?%O3D%;7=%3LC?%=7%!%;9%
h7;T3C?D%7;%3667H;=%7E%=>?%O38R%,3;<3;:L3;%:;%<779%E3:=>%Q3:9%
=>?%8?QH86>3D?%I7;?P%=7%D3:9%8?F7CH=:7;38P%<7F?8;I?;=S%$3=?8R%
h7;T3C?D%D7C9%=>?%C3;9%=7%!H?F3DS%,3;<3;:L3;%=>?;%L87H<>=%=>:D%
36=:7;%=7%<?=%=>?%C3;9%E87I%!H?F3DS
%
%
`EOIG%*>?%36=:7;%O:CC%;7=%Q87DQ?8R%L?63HD?%Q3PI?;=%7E%
=>?%8?QH86>3D?%I7;?P%=7%=>?%8?F7CH=:7;38P%<7F?8;I?;=%O3D%;7=%
F3C:9S%.3:9%<7F?8;I?;=%I?8?CP%3==36>?9%=>?%Q87Q?8=:?DR%I?8?CP%
Q87>:L:=?9%:=D%3C:?;3=:7;S%*>?8?E78?R%:=%O3D%('+%:;%Q7DD?DD:7;%7E%
=>?%68?9:=S%+7O?F?8R%,3;<3;:L3;%63;%8?9??I%=>?%Q87Q?8=P%E87I%
!H?F3D%LP%<:F:;<%>:I%=>?%8?QH86>3D?%I7;?PS
K]M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMK
&
74(2&C?FB2&H#Q50*(&5#60&()&(S0&'406%()4&-Q&(S0&60-()4&
#+(04&(S0&"#((04&S#$&-00*&U96%'%#""Q&)460406&()&40(#%*&(S0&60-(&
$S#""&*)(&-0&1#"%62
!,VVJKMW
XCY& H#Q50*(&V#60&7+(04&A96%'%#"&,4604&()&/0(#%*
&
%
*>?%WH9:6:3C%789?8%I3P%>3F?%L??;%Q87IQ=?9%LP%3;%789?8%
7E%,++,&/0$(+=%*(3"(&+*'(%'#%J,#(*4/0$(+%2<38;:D>I?;=%=3^?D%
QC36?%O>?;%=>?%)$6+'#%'2%,%)$6+'#%:D%789?8?9%;7=%=7%Q3P%=>?%C3==?8%
D7%=>3=%Q8?E?8?;6?%O7HC9%L?%<:F?;%=7%=>?%C3==?8_D%68?9:=784S%-7=?%
=>3=%=>?%Q3PI?;=%:;%=>:D%58=:6C?%:D%F7:9S
X?Y& jO#4*%$S50*(d&L0!&*06
%
%
`*>?%Q876??9:;<%LP%O>:6>%3%9?L=78_D%68?9:=78%:D%DHLW?6=?9%
=7%=>?%Q3PI?;=%7E%>:D%7O;%9?L=%=7%3;7=>?8%:D%^;7O;%3D%<38;:D>V
I?;=S%"=%67;D:D=D%:;%=>?%6:=3=:7;%7E%D7I?%D=83;<?8%=7%=>?%C:=:<3V
=:7;R%O>7%:D%=>?%9?L=78%7E%7;?%7E%=>?%Q38=:?D%=7%=>?%36=:7;S%bP%=>:D%
I?3;D%DH6>%9?L=78VD=83;<?8%L?67I?D%3%E786?9%:;=?8F?;78R%3;9%
=>?%67H8=R%>3F:;<%36XH:8?9%WH8:D9:6=:7;%7F?8%>:D%Q?8D7;%LP%I?3;D%
7E%=>?%6:=3=:7;%8?XH:8?9%7E%>:I%=7%Q3P%>:D%9?L=R%;7=%=7%>:D%E78I?8%
68?9:=78R%LH=%=7%=>?%;?O%68?9:=78R%O>7%:D%=>?%68?9:=78%:;%=>?%I3:;%
C:=:<3=:7;Sa%7W,5,6,4%O,()%['9%19%[/,##"2=%@:%K/*-9%P<Q?9
XBY& J`#58"0&)+&O#4*%$S50*(
234% 8%7O?D%Z%,/RUUURUUUS%ZR%:;%=H8;R%7O?D%[%,/UURUUUS%[%L8:;<D%
3;%36=:7;%3<3:;D=%Z=%O>7R%>7O?F?8R%6C3:ID%:;D7CF?;6P%LH=%
39I:=D%=>?%68?9:=%O>:6>%>?%>3D%7F?8%8S%b?E78?%8%Q3PD%ZR%
8%:D%DHII7;?9%:;=7%=>?%Q876??9:;<DR%3;9%3D^?9%=7%8?=3:;%
=>?%9?L=%:;%=>?%I?3;=:I?S%*>HDR%=>?%9?L=%:D%`<38;:D>?9Sa%
*>?%8?3D7;%:D%8%D>7HC9%;7=%Q3P%Z=%3;9%:;D=?39%>?%D>7HC9%
Q3P%[=%D>7HC9%[%8?3CCP%L?%39WH9<?9%=>?%68?9:=78%7E%Z9%5;P%
Q3PI?;=%I39?%LP%8%=7%Z%:;%=>?%I?3;=:I?%:D%67;D:9?8?9%
:;F3C:9%H;9?8%=>?%C3OS
2L4% .HQQ7D?%:;%=>?%Q8?6?9:;<%?Z3IQC?R%8%3;9%Z=%:;%=>?%I?3;V
=:I?R%9?Q7D:=?9%=>?%WH9:6:3C%789?8%=7%=>?%67;=838P%3;9%DHQV
Q7D:;<%:=%D>7HC9%=H8;%7H=%=>3=%[%:D%;7=%8?3CCP%=>?%68?9:=78%7E%
Z%3D%3%67;D?XH?;6?%7E%O>:6>%=>?%<38;:D>I?;=%Q876??9:;<D%
K]1
%
58=S%/JMK
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
38?%987QQ?9R%D>7HC9%8%3<3:;%Q3P%Z=%:;%F:?O%7E%=>?%E36=%=>3=%
=>?%!%8D=%Q3PI?;=R%D=8:6=CP%DQ?3^:;<R%:D%;7=%F3C:9%H;9?8%=>?%
C3Of
%
%
8VD9G%"=%:D%DHLI:==?9%=>3=%8%;??9%;7=%Q3P%Z%3%D?67;9%
=:I?S%*8H?R%3=%=>?%L?<:;;:;<%=>?%Q3PI?;=%O3D%;7=%F3C:9R%
LH=%=>?%9?E?6=%>?8?%>3D%L??;%6H8?9%LP%=>?%9:DI:DD3C%7E%=>?%
<38;:D>I?;=%Q876??9:;<DS%"=%:D%3D%:E%=>?8?%;?F?8%>39%L??;%
3;P%WH9:6:3C%789?8%3D^:;<%=>?%9?L=78%8%=7%8?=3:;%=>?%9?L=S%
)H8=>?8I78?R% O>P% D>7HC9% Z=% =>?% 68?9:=78R% L?% Q3:9% =O:6?%
E78%=>?%D3I?%9?L=f%*7%>7C9%=>3=%>?%D>7HC9%L?%:D%=7%3CC7O%3%
=83F?D=P%7E%WHD=:6?R%3;%H;9H?%?;8:6>I?;=%7E%Z9
264%
,?;9:;<%<38;:D>I?;=R%I3P%=>?%9?L=78%L?%WH9:6:3CCP%789?8?9%
=7%Q3P%=>?%&#$)*+'#%'2%/*4%)$6+'#%2DH6>%68?9:=78%:D%=>?%<38V
;:D>:;<%78%3==36>:;<%68?9:=784f
%
%
8VD9G%-7R%L?63HD?%H;9?8%=>?%@HC?D%7E%!7H8=%=>?%68?9:=%
IHD=%L?%<:F?;%=7%=>?%&-$#L=%4/$#*22=%78%7=>?8%Q87Q?8%7E!%6?8%
7E%=>?%67H8=S%7D$&9%<=%X"-$%BC=%X$1*4$)%X"-$4%'2%['"#+?9
XFY& j3*(048"0#604d&L0!&*06
&
%
"=%:D%=?6>;:63C%;3I?%7E%=>?%36=:7;%:;%O>:6>%3%6?8=3:;%Q?8D7;%
:;% Q7DD?DD:7;% 7E% 6?8=3:;% Q87Q?8=P% O3;=D% 6C3:I3;=D% =7% C:=:<3=?%
3I7;<% =>?ID?CF?D% E78% =>?% D3I?S% *>?% @?F:D?9% @HC?D% 7E% !7H8=%
Q87F:9?DG%`c>?;?F?8%67;"%:6=:;<%6C3:ID%HQ7;%=>?%D3I?%DHLW?6=%
I3==?8%38?%78%I3P%L?%I39?%3<3:;D=%3%Q?8D7;%O>7%6C3:ID%;7%:;V
=?8?D=%O>3=?F?8%:;%=>?%DHLW?6=%I3==?8R%78%3;%:;=?8?D=%O>:6>%:;%
O>7C?%78%:;%Q38=%:D%;7=%9:DQH=?9%LP%=>?%6C3:I3;=DR%>?%I3P%L8:;<%
3;%36=:7;%3<3:;D=%=>?%67;"%:6=:;<%6C3:I3;=D%=7%67IQ?C%=>?I%=7%
:;=?8QC?39%3;9%C:=:<3=?%=>?:8%D?F?83C%6C3:ID%3I7;<%=>?ID?CF?DSa%
7D$&9%:=%X"-$%;P?9
X=Y& J`#58"0&)+&3*(048"0#604
&
%
8%>3D%:;%>:D%Q7DD?DD:7;%D7I?%I?86>3;9:D?R%=7%L?%9?C:F?8?9%
=7%=>?%Q?8D7;%O>7%Q8?D?;=D%=>?%Q87Q?8%8?6?:Q=S%Z%3;9%[=%?36>%
38I?9% O:=>% 3% 8?6?:Q=R% 3D^%8% =7% =H8;% 7F?8% =>?% Q87Q?8=P% =7% 7;?%
7E%=>?IS%5;%?Z3I:;3=:7;%7E%=>?%8?6?:Q=D%8?F?3CD%=>3=%=>?P%38?%
7E%?Z36=CP%=>?%D3I?%^:;9S%8%97?D%;7=%^;7O%=7%O>7I%>?%D>7HC9%
9?C:F?8%=>?%Q87Q?8=PS%.7%>?%!%C?D%3;%36=:7;%:;%67H8=%LP%I?3;D%7E%
K]N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMM
O>:6>%Z%3;9%[%O:CC%L?%3LC?%=7%D?==C?%=>?:8%67;"%:6=:;<%8:<>=DS%*>?%
67H8=%IHD=%;7O%:DDH?%3;%789?8%Q87>:L:=:;<%Q3PI?;=%=7%?:=>?8%Z%
3;9%[%:;%=>?%I?3;=:I?S%'?DQ:=?%=>?%8?6?:Q=%7E%=>?%789?8R%8%Q3PD%
Z=%O>7%:D%=>?%L87=>?8%7E%>:D%78\4?%DO??=>?38=S%"D%D3:9%Q3PI?;=%
F3C:9f%&LF:7HDCP%;7=S%X$,4'(G%*>?%Q3PI?;=%>?8?%O3D%I39?%3E=?8%
=>?%9?L=78%>39%L??;%WH9:6:3CCP%789?8?9%=7%8?=3:;%=>?%9?L=S%X$,4'(%
2'#%+/$%-,.G%(F:9?;=CPR%=>?%9?L=78%>?8?%78?%63;;7=%D3P%>?%Q3:9%Z%
:;%<779%E3:=>S%+?%>39%HC=?8:78%I7=:F?D%E78%>:D%36=R%7=>?8O:D?%>?%
O7HC9%;7=%>3F?%9:D7L?P?9%=>?%C3OEHC%789?8%7E%=>?%67H8=S%i;9?8%
=>?%C3OR%=>?8?E78?R%8%:D%9??I?9%=7%L?%3%Q3P78%:;%L39%E3:=>S
X<Y& j3*U9*'(%)*d&L0!&*06
&
%
"=% :D% 3% WH9:6:3C% Q876?DD% LP% F:8=H?% 7E% O>:6>% 3% Q?8D7;% :D%
<?;?83CCP%789?8?9%=7%#$2#,*(%E87I%97:;<%D7I?=>:;<S%"=%:D%63CC?9%
Q8?C:I:;38P%:;WH;6=:7;%:E%=>?%Q87>:L:=:7;%:D%9H8:;<%=>?%Q?;9?;6P%
7E%6?8=3:;%Q876??9:;<DS
XPY& J`#58"0&)+&3*U9*'(%)*
&
%
8%7O?D%Z%3%DHI%7E%I7;?PS%c>?;%8%:D%3L7H=%=7%Q3P%ZR%=>?%
8?C3=:F?D%7E%=>?%C3==?8%I7F?%=7%D=7Q%=>?%Q3PI?;=%7;%=>?%<87H;9%
=>3=%Z%3QQ?38D%=7%L?%:;D3;?S%+7O?F?8R%Q876??9:;<D%:;%67H8=%=7%
9?=?8I:;?%Z\4%D3;:=P%38?%D=:CC%:;%Q87<8?DDS%.??:;<%8\4%9?=?8I:;3V
=:7;%=7%Q3PR%=>?%8?C3=:F?D%7E%Z%3D^%=>?%67H8=%E78%3%O8:=%7E%Q8?C:I:V
;38P%:;WH;6=:7;%8?D=83:;:;<%8%E87I%Q3P:;<%Z%:;%=>?%I?3;=:I?S%
*>?%:;WH;6=:7;%:D%<83;=?9S%c7HC9%:=%L?%39F:D3LC?%E78%8%=7%Q3P%Z%
9?DQ:=?%D3:9%:;WH;6=:7;f
%
%
8VD9G%-7R%:=%O7HC9%;7=%L?%39F:D3LC?%E78%8%=7%Q3P%O>:C?%>?%:D%
H;9?8%:;WH;6=:7;e%7=>?8O:D?R%>:D%Q3PI?;=%O:CC%;7=%L?%F3C:9%D:;6?%
=>:D%O7HC9%=>?;%L?%Q3PI?;=%I39?%=7%=>?%68?9:=78%LP%=>?%9?L=78%
3E=?8%=>?%C3==?8%>3D%L??;%WH9:6:3CCP%789?8?9%=7%8?=3:;%=>?%9?L=S
&
74(2&C?FF2&MS0&60-()4&)+&#&(S%*.&'#**)(&')580"&(S0&'406%;
()4&()&40'0%10&#&6%++040*(&)*0@&#"(S)9.S&(S0&"#((04&5#Q&-0&)+&
(S0&$#50&1#"90&#$@&)4&5)40&1#"9#-"0&(S#*&(S#(&RS%'S&%$&6902
&
3*&)-"%.#(%)*$&()&6)&)4&*)(&()&6)@&#*&#'(&)4&+)4-0#4#*'0&
'#**)(&-0&$9-$(%(9(06&-Q&#*)(S04&#'(&)4&+)4-0#4#*'0&#.#%*$(&
(S0&)-"%.00d$&R%""2
K]]
%
58=S%/JM1
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& L0-()4& !#**)(& !)580"& !406%()4& ()& 7''08(& #& L%++040*(&
,-U0'(&
%
EF,0!-$G
%
%
8%:D%7LC:<?9%=7%<:F?%Z%3%Y,J",#%638S%-7=%>3F:;<%3;P%Y,J",#%
638R%8%O3;=D%Z%=7%366?Q=%3%X'--4%X'5&$R%3%I78?%?ZQ?;D:F?%638R%LH=%
Z%8?EHD?D%=7%366?Q=S%"D%Z%WHD=:!%?9%C?<3CCP%:;%8?EHD:;<%=7%366?Q=f
%
%
8VD9G%B?DS%(F?;%:E%=>?%X'--4%X'5&$%L?%I78?%F3CH3LC?%=>3;%
=>?%Y,J",#R%:E%Z%97?D%;7=%O3;=%=>?%X'--4%X'5&$R%>?%63;;7=%L?%
67IQ?CC?9% LP% 8% =7% 366?Q=% :=S% *>?% =?8ID% 7E% =>?% 67;=836=% E78I%
=>?%C3O%L?=O??;%=>?%Q38=:?DR%3;9%=>?%DHLW?6=%I3==?8%63;;7=%L?%
6>3;<?9%O:=>7H=%=>?%67;D?;=%7E%=>?%Q38=:?DS
%
%
g"$4+*'(G%"D%58=S%/JMM%7E%=>?%!:F:C%!79?%3QQC:63LC?%=7%Q?8V
D7;3C%Q7D:=:F?%3;9%;?<3=:F?%7LC:<3=:7;Df
%
%
8VD9G%B?DS%";%7LC:<3=:7;D%=7%97%78%;7=%=7%97R%3;%36=%78%E78V
L?383;6?%63;;7=%L?%DHLD=:=H=?9%LP%3;7=>?8%36=%78%E78L?383;6?%
3<3:;D=%=>?%7LC:<??_D%O:CCS%&E%67H8D?R%:E%=>?%7LC:<??%67;D?;=DR%=>:D%
:D%3CC%8:<>=S
X?Y& 3*$(#*'0$&ZS0*&74(2&C?FF&L)0$&K)(&788"Q
234% :;%63D?%7E%2,&"-+,+*1$%7LC:<3=:7;De
2L4% :;%63D?%=>?8?%:D%3;7=>?8%3<8??I?;=%8?DHC=:;<%:;%?:=>?8G
264%
/4%
),+*'(%:;%Q3PI?;=%78#+9%:Q@B=%[*1*-%[')$?h
J4%
78%;7F3=:7;%78#+9%:Q>:=%[*1*-%[')$?h
:;%63D?%7E%O3:F?8%LP%=>?%68?9:=78%2?ZQ8?DDCP%78%:IQC:?9CP4S
&
74(2&C?F=2&L#(%)*&%*&8#Q50*(@&RS040-Q&84)804(Q&%$&#"%0*;
#(06&()&(S0&'406%()4&%*&$#(%$+#'(%)*&)+&#&60-(&%*&5)*0Q@&$S#""&
-0&.)104*06&-Q&(S0&"#R&)+&$#"0$2
!,VVJKMW
XCY& jL#(%)*&%*&H#Q50*(d&L0!&*06
%
%
"=% :D% =>3=% I79?% 7E% ?Z=:;<H:D>:;<% 3;% 7LC:<3=:7;% O>?8?LP%
=>?% 9?L=78% 3C:?;3=?D% :;% E3F78% 7E% =>?% 68?9:=78R% Q87Q?8=P% E78% =>?%
D3=:DE36=:7;%7E%I7;?=38P%9?L=S
K]0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JM1
X?Y& GQ*)*Q5$&+)4&L#(%)*&%*&H#Q50*(
234% ),+*'%*(%4'-"+"0
2L4% ,)3")*&,&*'(%$(%!,J'%7<%T,(#$4,%PQP?
XBY& J`#58"0$
234% *7% Q3P% IP% 9?L=% 7E% ,/RUUURUUU% :;% E3F78% 7E% b?CC3R% "% <3F?%
>?8% .*+/% /$#% &'(4$(+% 3% 9:3I7;9% 8:;<% :;D=?39% O78=>%
,/RUUURUUUS
2L4% *7%Q3P%7EE%>:D%9?L=R%3;%>?:8%3DD:<;?9%>:D%:;>?8:=3;6?%:;%3;%
?D=3=?%=7%>:D%68?9:=78S%7RJ(,&*'%19%T,#+*($k=%PP%K/*-9%BC;?9
XFY& /0#$)*$&ZSQ&L#(%)*&%*&H#Q50*(&3$&O)104*06&-Q&(S0&:#R&
)+&G#"0$
%
%
*>:D% :D% D7% L?63HD?% ),+*'(% :;% Q3PI?;=% Y% =>?% =83;DE?8% 78%
67;F?P3;6?%7E%7O;?8D>:Q%7E%3%=>:;<%3D%3;%366?Q=?9%?XH:F3C?;=%
7E% Q?8E78I3;6?% Y% 8?3CCP% Q38=3^?D% :;% 7;?% D?;D?% 7E% =>?% ;3=H8?%
7E%D3C?R%*9$9R%=>?%68?9:=78%:D%8?3CCP%LHP:;<%D7I?%Q87Q?8=P%7E%=>?%
9?L=78R%Q3PI?;=%E78%O>:6>%:D%=7%L?%6>38<?9%3<3:;D=%=>?%9?L=78_D%
9?L=S%+7O?F?8R%:=%I3P%3CD7%L?%63CC?9%3%`;7F3=:7;Sa%bH=%D3C?D%3;9%
('1,+*'(%8?XH:8?%&'00'(%&'(4$(+S
X=Y& G#"0&L%$(%*.9%$S06&+4)5&L#(%)*&%*&H#Q50*(
D8OE
I8WRSV%RV
K8fTEVW
234% =>?8?% :D% ('% Q8?V?Z:D=:;<% 234% =>?8?%:D%3%Q8?V?Z:D=:;<%68?9:=
68?9:=
2L4% =>:D% <:F?D% #*4$% =7% 7LC:<3V 2L4% =>:D% $F+*(J"*4/$4% 7LC:<3V
=:7;D
=:7;D
264%
=>?% 63HD?% 78% 67;D:9?83V 264%
=:7;% >?8?% :D% =>?% ,@"!(%
2E87I%=>?%F:?OQ7:;=%7E%=>?%
D?CC?84e% 78% =>?% 7L=3:;:;<%
7E%=>?%&bg(!*%2E87I%=>?%
F:?OQ7:;=%7E%=>?%LHP?84
K]d
=>?% 63HD?% 78% 67;D:9?83=:7;%
>?8?R% E87I% =>?% F:?OQ7:;=%
7E% =>?% 9?L=78% :;% ),+*'(% :;%
Q3PI?;=% :D% =>?% $F+*(J"*4/A
0$(+% 7E% >:D% )$6+e% E87I% =>?%
F:?OQ7:;=%7E%=>?%68?9:=78R%:=%:D%
%
58=S%/JMN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=>?%,&a"*4*+*'(%'2%+/$%'63$&+%
'22$#$)%*(%&#$)*+
294% =>?8?%:D%<8?3=?8%E8??97I%:;% 294% =>?8?% :D% C?DD% E8??97I% :;%
=>?% 9?=?8I:;3=:7;% 7E% =>?%
9?=?8I:;:;<%=>?%Q8:6?
Q8:6?
2?4% =>?%<:F:;<%7E%=>?%Q8:6?%I3P% 2?4% =>?% <:F:;<% 7E% =>?% 7LW?6=%
<?;?83CCP% ?;9% =>?% 7LC:<3V
:;% C:?H% 7E% =>?% 68?9:=% I3P%
=:7;%7E%=>?%LHP?8
?Z=:;<H:D>% &'0!-$+$-5% 78%
7;CP% !,#+*,--5% =>?% 68?9:=%
29?Q?;9:;<% 7;% =>?% 3<8??V
I?;=4S%7<%T,(#$4,%PQP?9
%
X<Y& !)*6%(%)*$&I*604&ZS%'S&#&L#(%)*&%*&H#Q50*(&Z)9"6&N0&
e#"%6
234% R2%+/$%&#$)*+'#%&'(4$(+4=%E78%3%D3C?%Q8?DHQQ7D?D%=>?%67;D?;=%
7E%L7=>%Q38=:?DS
2L4% R2%+/$%),+*'(%*(%!,50$(+%.*--%('+%!#$3")*&$%+/$%'+/$#%&#$)*A
+'#4=% E78% =>:D% I:<>=% C?39% =>?% 9?L=78% =7% 67;;:F?% O:=>% 7;?%
68?9:=78%:;%9?E83H9:;<%=>?%7=>?8%68?9:=78DS
264%
R2%+/$%)$6+'#%*4%('+%3")*&*,--5%)$&-,#$)%*(4'-1$(+=%E78%>?8?%>:D%
Q87Q?8=P%:D%DHQQ7D?9%=7%L?%39I:;:D=?8?9%LP%=>?%3DD:<;??S
%
%
cVSWEG%";%),+*'(R%:=%:D%;7=%3CO3PD%;?6?DD38P%=>3=%3CC%
=>?%Q87Q?8=P%7E%=>?%9?L=78%O:CC%L?%<:F?;%=7%D3=:DEP%=>?%68?9:=S%
7<%T,(#$4,%QPQ?9e
%
%
[VSWEG%)78%=>?%9:D=:;6=:7;%L?=O??;%&$44*'(%23DD:<;V
I?;=4%3;9%),+*'(R%8?E?8%=7%67II?;=D%H;9?8%58=S%/J11S\
&
74(2& C?F<2& ZS0*& (S0& )-"%.#(%)*& ')*$%$($& %*& (S0& 60"%104Q&
)+&#*&%*60(045%*#(0&)4&.0*04%'&(S%*.@&RS)$0&_9#"%(Q&#*6&'%4;
'95$(#*'0$&S#10&*)(&-00*&$(#(06@&(S0&'406%()4&'#**)(&605#*6&
#&(S%*.&)+&$9804%)4&_9#"%(Q2&K0%(S04&'#*&(S0&60-()4&60"%104&#&
(S%*.&)+&%*+04%)4&_9#"%(Q2&MS0&8948)$0&)+&(S0&)-"%.#(%)*&#*6&
)(S04&'%4'95$(#*'0$&$S#""&-0&(#T0*&%*()&')*$%604#(%)*2
K0U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMN
!,VVJKMW
XCY& ,-"%.#(%)*&()&O%10&O0*04%'&MS%*.$
%
%
X$,4'(4%2'#%+/$%8#+*&-$G
%
%
`*>:D%58=:6C?%<:F?D%3%Q8:;6:QC?%7E%?XH:=P%:;%=>3=%:=%3QQC:?D%
WHD=:6?% :;% 3% 63D?% O>?8?% =>?8?% :D% C36^% 7E% Q8?6:D?% 9?6C383=:7;% :;%
=>?%7LC:<3=:7;S%"=%:D%3CO3PD%>389%=7%!%;9%7;?%=>:;<%=>3=%:D%?Z36=CP%
D:I:C38%=7%3;7=>?8S%bH=%:;%=>:D%^:;9%7E%7LC:<3=:7;R%=>?8?%:D%=>?%
XH?D=:7;%7E%8?C3=:F?%3QQ8?6:3=:7;%:;%=>3=%7;?%Q38=P%3QQ8?6:3=?D%
=>?%D3I?%=>:;<%3D%=>?%7=>?8%Q38=P%97?DS%"E%=>?8?%:D%9:D3<8??I?;=%
L?=O??;% =>?IR% =>?;% =>?% 67H8=% D=?QD% :;% 3;9% 9?6C38?D% O>?=>?8%
=>?% 67;=836=% >3D% L??;% 67IQC:?9% O:=>% 78% ;7=R% 366789:;<% =7% =>?%
6:86HID=3;6?DSa%7<%T,(#$4,%Q<UAQ<:?9
X?Y& Z#%104
&
%
"E%=>?%67;=836=%97?D%;7=%DQ?6:EP%=>?%a",-*+5%Y
234% =>?%68?9:=78%63;;7=%9?I3;9%3%=>:;<%7E%DHQ?8:78%XH3C:=P%2LH=%
:E%>?%9?D:8?DR%>?%I3P%9?I3;9%3;9%366?Q=%7;?%7E%:;E?8:78%
XH3C:=P4S
2L4% =>?%9?L=78%63;;7=%9?C:F?8%3%=>:;<%7E%:;E?8:78%XH3C:=PR%LH=%:E%>?%
D7%9?D:8?DR%>?%I3P%9?C:F?8%7;?%7E%4"!$#*'#%XH3C:=P%2Q87F:9?9%
:=%:D%;7=%7E%3%9:EE?8?;=%^:;94S%7D$$%8#+9%:Q@@=%[*1*-%[')$?9
XBY& ZS0*&!)*(4#'(&3$&e,3L
%
%
-7=?%=>3=%=>?%58=:6C?%DQ?3^D%7E%ji5$"*B%3;9%7=>?8%6:86HIV
D=3;6?DS%c>?;%=>?%p"-'%3;9%ji5-*"*B%23D%9:D=:;<H:D>?9%E87I%
a",-*+54%63;;7=%L?%9?=?8I:;?9%O:=>7H=%;??9%7E%3%;?O%3<8??I?;=%
7E%=>?%Q38=:?DR%=>?%67;=836=%:D%1'*)9%78#+9%:P@>%,()%8#+9%:@U>=%V'9%
;=%[*1*-%[')$?9
%
%
`*>?%7LW?6=%7E%?F?8P%67;=836=%IHD=%L?%9?=?8I:;3=?%3D%=7%:=D%
^:;9S%*>?%E36=%=>3=%=>?%a",(+*+5%:D%('+%9?=?8I:;?9%D>3CC%('+%L?%
3;%7LD=36C?%=7%=>?%?Z:D=?;6?%7E%=>?%67;=836=%Q87F:9?9%:=%:D%Q7DV
D:LC?%=7%9?=?8I:;?%=>?%D3I?%O:=>7H=%=>?%;??9%7E%3%;?O%67;=836=%
L?=O??;%=>?%Q38=:?DSa
K0/
%
58=DS%/JM]V/JM0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
74(2&C?FP2&I*"0$$&%(&%$&)(S04R%$0&$(%89"#(06@&(S0&0`(4#U96%;
'%#"&0`80*$0$&40_9%406&-Q&(S0&8#Q50*(&$S#""&-0&+)4&(S0&#'')9*(&
)+&(S0&60-()42&Z%(S&40.#46&()&U96%'%#"&')$($@&(S0&/9"0$&)+&!)94(&
$S#""&.)104*2
!,VVJKMW
XCY& L0-()4&H#Q$&O0*04#""Q&+)4&J`(4#U96%'%#"&J`80*$0$
&
%
N$($#,-%X"-$G
%
%
*>?% 9?L=78% >3D% =7% Q3P% E78% =>?% ?Z=83WH9:6:3C% ?ZQ?;D?D% :;V
6H88?9% 9H8:;<% =>?% Q3PI?;=S% X$,4'(G% bP% ?ZQ8?DD% Q87F:D:7;% 7E%
C3OS%X$,4'(%2'#%+/$%-,.G%"=%:D%=>?%9?L=78%O>7%L?;?!%=D%Q8:I38:CPR%
D:;6?%>:D%7LC:<3=:7;%:D%=>HD%?Z=:;<H:D>?9S
%
%
EF&$!+*'(G%c>?;%=>?8?%:D%3%D=:QHC3=:7;%=7%=>?%67;=838PS
X?Y& ZS#(&O)104*$&A96%'%#"&!)$($^
&
%
*>?%@HC?D%7E%!7H8=R%Q8:;6:Q3CCP%@HC?%/MJS
XBY& \)R&A96%'%#"&!)$($&740&L0(045%*06
&
%
h?;?83CCPR%67D=D%D>3CC%L?%3O389?9%=7%=>?%O:;;:;<%Q38=PS%bH=%
=>:D%:D%DHLW?6=%=7%=>?%9:D68?=:7;%7E%=>?%67H8=S%`i;C?DD%7=>?8O:D?%
Q87F:9?9%:;%=>?D?%8HC?DR%67D=D%D>3CC%L?%3CC7O?9%=7%=>?%!#$1,*-*(J%
!,#+5%3D%3%I3==?8%7E%67H8D?R%LH=%=>?%67H8=%D>3CC%>3F?%Q7O?8R%E78%
4!$&*,-%#$,4'(4R%=7%39WH9<?%=>3=%?:=>?8%Q38=P%D>3CC%Q3P%=>?%67D=D%
7E%3;%36=:7;R%78%=>3=%=>?%D3I?%L?%9:F:9?9R%3D%I3P%L?%?XH:=3LC?Sa%
7D$&9%:=%X"-$%:@Q=%X$1*4$)%X"-$4%'2%['"#+?9
XFY& O0*04#""Q&K)&!)$($&7.#%*$(&(S0&O)104*50*(
&
%
`-7%67D=D%D>3CC%L?%3CC7O?9%3<3:;D=%=>?%@?QHLC:6%7E%=>?%,>:C:QV
Q:;?DR%H;C?DD%7=>?8O:D?%Q87F:9?9%LP%C3OSa%7D$&9%:=%-,4+%4$(+$(&$=%
X"-$%:@Q=%X$1*4$)%X"-$4%'2%['"#+?9
&
74(2&C?FE2&I*"0$$&(S040&%$&#*&0`840$$&$(%89"#(%)*&()&(S#(&
0++0'(@&(S0&'406%()4&'#**)(&-0&')580""06&8#4(%#""Q&()&40'0%10&
(S0&840$(#(%)*$&%*&RS%'S&(S0&)-"%.#(%)*&')*$%$($2&K0%(S04&5#Q&
(S0&60-()4&-0&40_9%406&()&5#T0&8#4(%#"&8#Q50*($2
K0J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JM0
&
\)R0104@&RS0*&(S0&60-(&%$&%*&8#4(&"%_9%6#(06&#*6&%*&8#4(&
9*"%_9%6#(06@&(S0&'406%()4&5#Q&605#*6&#*6&(S0&60-()4&5#Q&
0++0'(&(S0&8#Q50*(&)+&(S0&+)4504&R%(S)9(&R#%(%*.&+)4&(S0&"%_;
9%6#(%)*&)+&(S0&"#((042
!,VVJKMW
XCY& H04+)45#*'0&GS)9"6&O0*04#""Q&N0&!)58"0(0
%
%
i;9?8%58=S%/JKK%7E%=>?%!:F:C%!79?R%3%9?L=%D>3CC%;7=%L?%H;V
9?8D=779%=7%>3F?%L??;%Q3:9%H;C?DD%=>?%=>:;<%78%D?8F:6?%:;%O>:6>%
=>?%7LC:<3=:7;%67;D:D=D%>3D%L??;%&'0!-$+$-5%9?C:F?8?9%78%8?;9?8?9R%
3D%=>?%63D?%I3P%L?S%+?;6?R%Q38=:3C%Q?8E78I3;6?%:D%;7=%3CC7O?9%
<?;?83CCP%H;9?8%58=S%/JM0S
X?Y& J`'08(%)*$
%
%
,38=:3C%Q?8E78I3;6?%:D%3CC7O?9G
234% c>?;%=>?8?%:D%D=:QHC3=:7;%=7%=>:D%?EE?6=e
2L4% c>?;% =>?% 9:EE?8?;=% Q8?D=3=:7;D% 38?% DHLW?6=% =7% 9:EE?8?;=%
67;9:=:7;D%78%9:EE?8?;=%=?8IDe
%
%
2EF,0!-$G%3%9?L=%Q3P3LC?%:;%:;D=3CCI?;=D4
264%
c>?;%3%9?L=%:D%:;%Q38=%C:XH:93=?9%3;9%:;%Q38=%H;C:XH:93=?9R%
:;%O>:6>%63D?%Q?8E78I3;6?%7E%=>?%C:XH:93=?9%Q38=%I3P%L?%
:;D:D=?9%HQ7;%?:=>?8%LP%=>?%9?L=78%78%=>?%68?9:=78e
%
%
7EF,0!-$G%I%7O?D%[%,K%I:CC:7;%QCHD%93I3<?DS%(F?;%:E%
=>?%3I7H;=%7E%93I3<?D%>3D%;7=%P?=%L??;%3D6?8=3:;?9R%=>?%
,K%I:CC:7;%:D%3C8?39P%^;7O;%78%C:XH:93=?9S%*>:D%:D%3C8?39P%
)$0,(),6-$%3;9%!,5,6-$9?
294% c>?;%3%3'*(+%)$6+'#%Q3PD%>:D%D>38?%78%=>?%68?9:=78%9?I3;9D%
=>?%D3I?e
%
%
2VSWEG%*>:D%:D%3%67IQC?=?%Q3PI?;=%7E%>:D%D>38?R%LH=%
:=%:D%D=:CC%3%!,#+*,-%EHC!%CCI?;=%7E%=>?%O>7C?%7LC:<3=:7;S4
2?4% c>?;% 3% 4'-*),#5% 9?L=78% Q3PD% 7;CP% =>?% Q38=% 9?I3;93LC?%
L?63HD?%=>?%8?D=%38?%;7=%P?=%9?I3;93LC?%7;%3667H;=%7E%=>?:8%
L?:;<%DHLW?6=%=7%9:EE?8?;=%=?8ID%3;9%67;9:=:7;De
2E4%
";%63D?%7E%67IQ?;D3=:7;R%O>?;%7;?%9?L=%:D%C38<?8%=>3;%=>?%
7=>?8R%:=%E7CC7OD%=>3=%3%L3C3;6?%:D%C?E=%7D$$%8#+9%:Q>U=%[*1*-%
[')$?h
K0K
%
58=S%/JMd
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2<4% c>?;% O78^% :D% =7% L?% 97;?% LP% Q38=DS% 7D$$% 8#+9% :CQU=% [*1*-%
[')$?9
%
%
cVSWEG%";%68:I:;3C%C3OR%=>?%.HQ8?I?%!7H8=%>3D%>?C9%
=>3=%=>?%366?Q=3;6?%7E%Q38=:3C%Q3PI?;=%LP%3;%7EE?;9?9%Q38=P%
:D%;7=%7;?%7E%=>?%I?3;D%7E%?Z=:;<H:D>:;<%68:I:;3C%C:3L:C:=PS%
*>?%8?3D7;%:DG%5%68:I:;3C%7EE?;D?%:D%67II:==?9%3<3:;D=%=>?%
Q?7QC?R%3;9%=>?%7EE?;9?9%Q38=P%I3P%('+%O3:F?%78%?Z=:;<H:D>%
=>?%68:I:;3C%C:3L:C:=P%=>3=%=>?%C3O%:IQ7D?D%E78%=>?%67II:DV
D:7;%7E%=>?%7EE?;D?S%7[,0"4%19%['"#+%'2%8!!$,-4=%$+%,-9=%@<%
S9N9%P<><%p:>B;q9?
&
74(2&C?FD2&MS0&8#Q50*(&)+&60-($&%*&5)*0Q&$S#""&-0&5#60&
%*&(S0&'9440*'Q&$(%89"#(06@&#*6&%+&%(&%$&*)(&8)$$%-"0&()&60"%104&
$9'S&'9440*'Q@&(S0*&%*&(S0&'9440*'Q&RS%'S&%$&"0.#"&(0*604&%*&
(S0&HS%"%88%*0$2
&
MS0&60"%104Q&)+&84)5%$$)4Q&*)(0$&8#Q#-"0&()&)4604@&)4&-%""$&
)+&0`'S#*.0&)4&)(S04&504'#*(%"0&6)'950*($&$S#""&84)69'0&(S0&
0++0'(&)+&8#Q50*(&)*"Q&RS0*&(S0Q&S#10&-00*&'#$S06@&)4&RS0*&
(S4)9.S&(S0&+#9"(&)+&(S0&'406%()4&(S0Q&S#10&-00*&%58#%4062
&
3*& (S0& 50#*(%50@& (S0& #'(%)*& 604%106& +4)5& (S0& )4%.%*#"&
)-"%.#(%)*&$S#""&-0&S0"6&%*&#-0Q#*'02
!,VVJKMW
XCY& j:0.#"&M0*604d&L0!&*06
%
%
"=%:D%=>3=%O>:6>%3%9?L=78%I3P%67IQ?C%3%68?9:=78%=7%366?Q=%
:;%Q3PI?;=%7E%=>?%9?L=%2O>?=>?8%!"6-*&%78%!#*1,+$4S
X?Y& :0.#"&M0*604&%*&(S0&HS%"%88%*0$
234% b?E78?%=>?%39F?;=%7E%A38=:3C%$3OR%3CC%('+$4%3;9%&'*(4%O?8?%
:DDH?9%LP%=>?%!?;=83C%b3;^%2;7O%b3;<^7%.?;=83C4%2O:=>7H=%
3%I3Z:IHI%C:I:=4S%2.?6S%1MR%@5%JN14S
2L4% i;9?8%.?6S%JK/%7E%,8?D:9?;=:3C%'?68??%]J%25I?;9:;<%@5%
JN1R%=>?%`!?;=83C%b3;^%56=a4R%7E%A38=:3C%$3OR%3;9%?EE?6=:F?%
-7FS%JdR%/d]JR%=>?%/%6?;=3F7%67:;%3;9%=>?%1V%6?;=3F7%67:;%
38?%F3C:9%C?<3C%=?;9?8%HQ%=7%,JUSUUe%=>?%7=>?8%67:;D%2/UR%J1R%
1UR%3;9%,/4%38?%F3C:9%C?<3C%=?;9?8%HQ%=7%,1Ue%3;9%3CC%L:CCD%
38?%F3C:9%C?<3C%=?;9?8%E78%,(5%3I7H;=S
K0M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%/JMd
%
cVSWEG% 'H8:;<% =>?% g3Q3;?D?% 766HQ3=:7;R% =>?% E7CC7O:;<%
O?8?%>?C9%=7%L?%C?<3C%=?;9?8G
234% g3Q3;?D?%I:C:=38P%;7=?DS%7`,.%K*,%19%[/*(,%Z,(L*(J%['#!9=%
<U%K/*-9%;U@?9
2L4% `(I?8<?;6P%;7=?Da%3H=>78:T?9%3;9%:DDH?9%LP%=>?%!7II7;V
O?3C=>%h7F?8;I?;=R%LH=%=>?D?%6?3D?9%=7%L?%C?<3C%=?;9?8%
3E=?8% (Z?6S% &89?8% J1% 93=?9% 3;9% ?EE?6=:F?% -7FS% /0R% /dMMS%
7T'()$3,#%19%V*&'-'=%p[989q%@P%S9N9%BU>>?9e
%
%
[VSWEG% X$J*4+#,+*'(% ,()% #$)$0!+*'(% 7E% `<H?8:CC3%
;7=?Da%38?%<7F?8;?9%LP%@5_D%JJ%3;9%KNdR%8?DQ?6=:F?CPS\
%
%
cVSWEG% i;9?8% =>?% 7C9% C3OR% @?QS% 56=% 0d]R% =>?% 36V
6?Q=3;6?% 7E% L36^Q3P% 6?8=:!%63=?D% :;% Q3PI?;=% 7E% C73;D% =7%
<7F?8;I?;=%678Q783=:7;D%O3D%:;9??9%7LC:<3=78P%HQ7;%=>?%
,>:C:QQ:;?%-3=:7;3C%b3;^%2,-b4S%+7O?F?8R%=>?%?;36=I?;=%
7E%@?QS%56=%/1]NR%93=?9%gH;S%/NR%/d1NR%O>:6>%399D%3%;?O%
Q87F:D:7;R%.?6=:7;%dV3R%=7%=>?%@?F:D?9%!>38=?8%7E%=>?%,-bR%
8?I7F?D%=>:D%7LC:<3=:7;%:IQ7D?9%HQ7;%=>?%D3:9%L3;^S%7K/*-9%
V,+9%Z,(L%19%E#$($+,=%OA:PUB<=%8"J9%Q<=%:>B>?9e
XBY& L)'(4%*0$&+)4&M4#*$#'(%)*$&L94%*.&(S0&A#8#*0$0&,''98#;
(%)*
234% ,3PI?;=%7E%9?L=D%2Q8?VO38%3;9%g3Q3;?D?%766HQ3=:7;%9?L=D4%
I39?%3;9%9H?%9H8:;<%=>?%g3Q3;?D?%766HQ3=:7;%O3D%F3C:9%
L?63HD?%=>?%g3Q3;?D?%;7=?D%.$#$%C?<3C%=?;9?8R%D7%O:=>%3CC%
=83;D36=:7;D%=>3=%9:9%('+%Q38=3^?%7E%3%Q7C:=:63C%67IQC?Z:7;R%
H;C?DD% =>?8?% O3D% D7I?% 7=>?8% 9?E?6=S% 7`,.% K*,% 19% [/*(,%
Z,(L*(J%['#!'#,+*'(=%<U%K/*-9%;U@h%['%b*0%[/,0%19%W,(%
b$/=%NX%OAB=%D9[9=%D$!+9%:C=%:>@Bh%S#)$(%)$%K9K9%Z$($)*&+'4%
19%K/*-9%W#"4+%['9=%@C%S9N9%V'9%Q<>@h%,()%H*-*!*(,4%O*2$%84A
4"#,(&$%['9%19%V,1,=%OAQUBBQ=%T,5%QU=%:>;;?9
2L4% bH=%:E%=>?%9?L=%O3D%;7=%9H?%3;9%Q3P3LC?%)"#*(J%=>?%g3Q3V
;?D?%766HQ3=:7;R%Q3PI?;=%=>?8?7E%O3D%dSRI9%7N,#&*,%19%I$%
-'4%D,(+'4=%@>%S9N9%@<%,()%V*&'-,4%19%T,+*,4=%OA:C@P?9
264%
b3;^%9?Q7D:=D%9H8:;<%=>?%766HQ3=:7;%O?8?%;7=%F3C:9R%LH=%
O:=>983O3CD%.$#$%1,-*)%,()%)$)"&+*6-$=%$F&$!+%:;D7E38%3D%
D3:9%O:=>983O3C%67HC9%L?%9?9H6=?9%E87I%Q8:78%9?Q7D:=D%7E%
g3Q3;?D?%I7;?PS%7EF9%S#)$#%@>=%+/$%O'.$4+%T*(*0"(%Z,-A
,(&$%'#%[#$)*+%O,.?S%*>?%8HC?%3QQC:?DR%O>?=>?8%=>?%9?Q7D:=%
K01
%
58=S%/JMd
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
O3D%:;%=>?%E78I%7E%63D>%78%6>?6^S%7f$L%W,(J%O*(%H*#$%,()%
T,#*($% R(4"#,(&$% ['9% 19% KVZ=% OA:@QC:=% 8!#9% Q>=% :>;U?9%
2`*-,)'% 19% I$% -,% ['4+,=% <P% K/*-9% @C:=% D3PD% =>?% =?6>;:63C%
8?3D7;%L?:;<%=>3=%3%6,(L%)$!'4*+%:D%;7=%3%Q3PI?;=%7E%3;P%
7LC:<3=:7;R% O>?8?3D% 3% 6,(L% .*+/)#,.,-% :D% 3% Q3PI?;=% 7E%
=>?%C73;%67;=836=?9%LP%=>?%L3;^S4%A78?7F?8R%7;?%:IQ78=3;=%
8?3D7;%O>P%:;%<?;?83C%=>?%L3;^%9?Q7D:=D%O?8?%>?C9%F7:9%
O3D%=>3=%L3;^D%38?R%789:;38:CPR%7LC:<?9%=7%8?6?:F?%9?Q7D:=DS%
*>?8?%:D%3%D78=%7E%&'0!"-4*'(9%+?;6?R%(ZS%&89?8%Md%>39%=7%
L?%:DDH?9%:;%=>?%?Z?86:D?%7E%=>?%Q7C:6?%Q7O?8%7E%=>?%D=3=?S%
7H$-*&*,('%[#"k%19%8")9%N$(9=%OA:QQPP=%T,5%PU=%:>B>?9
EF,0!-$%'2%N$($#,-%X"-$G
%
% ,/RUUU% Y%
7!#$A.,#%)$!'4*+?
%
%
KUU% Y%
2/dMJ%.*+/)#,.,-4
%
%
/UU% Y%
2/dMK%.*+/)#,.,-4
%
%
K1U% Y%
2/dMM%)$!'4*+4
%
,NUU% 2L3C3;6?% Y% L?63HD?% =>?% O:=>983O3CD% IHD=%
L?% DHL=836=?9% O>:C?% =>?% 9?Q7D:=% O:CC% ('+% L?%
399?94
EF,0!-$%'2%+/$%EF&$!+*'(G
%
% ,/RUUU% Y%
7!#$A.,#%)$!'4*+?
%
%
K1U% Y%
2/dMJ%.*+/)#,.,-4
%
%
KUU% Y%
2/dMK%.*+/)#,.,-4
%
%
/UU% Y%
2/dMM%.*+/)#,.,-4
,d1U% 2X$,4'(G% *>?% ,KUU% O:=>983O3C% 63;% L?% DHLV
=836=?9%E87I%=>?%9?Q7D:=%7E%,K1U%L?63HD?%D3:9%
9?Q7D:=%O3D%0,)$%"4$%7ER%C?3F:;<%,1U%?Z=83%
9?Q7D:=S%*>?%D?67;9%O:=>983O3C%7E%,/UU%63;%
L?%6>38<?9%=7%=>?%8?I3:;:;<%,1U%3;9%=7%=>?%
78:<:;3C%3667H;=%7E%,/RUUU%Y%C?3F:;<%,d1U4S
&
&
b0"%'%#*)&72&!49a&12&796%()4&O0*04#"
:;C??BB@&V#Q&B>@&CD=D
&
%
H8[WDG%'H8:;<%=>?%g3Q3;?D?%766HQ3=:7;R%!8HT%O3;=?9%=7%
QH86>3D?%3%C7=%I39?%3F3:C3LC?%=7%=>?%QHLC:6%LP%=>?%<7F?8;I?;=%
K0N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMd
2@H83C%,87<S%59IS4S%*>?%C7=%O3D%=>?%.=3S%!C383%(D=3=?%:;%.3IV
Q3C76R%A3;:C3S%,H8DH3;=%=7%<7F?8;I?;=%8?XH:D:=?DR%!8HT%>3D%=7%
Q3P%,/R/NU%:;%g3Q3;?D?%I7;?P%3D%i)$!'4*+9j%5E=?8%C:L?83=:7;R%>?%
D7H<>=%=>?%9?C:F?8P%=7%>:I%7E%=>?%C7=S%";%=>?%I?3;=:I?R%>?%O3D%
8?XH:8?9%=7%Q3P%=>?%c+&$(%QH86>3D?%Q8:6?S%+?%;7O%DH?D%E78%
=>?%F3CH?%Q3:9%9H8:;<%=>?%g3Q3;?D?%766HQ3=:7;S%*>?%5H9S%h?;S%
8?EHD?9%7;%=O7%<87H;9DG%):8D=CPR%H;9?8%(ZS%&89?8%-7S%MdR%`9?V
Q7D:=Da%O?8?%67;D:9?8?9%F7:9S%.?67;9CPR%=>?%C7DD%7E%=>?%`9?Q7D:=Da%
LP%3%E78=H:=7HD%?F?;=%IHD=%L?%L78;?%LP%=>?%9?Q7D:=78S
%
%
`EOIG%!8HT%63;%8?67F?8%E78%O>3=%>?%<3F?%O3D%;7=%8?3CCP%
3%9?Q7D:=%23%#$,-%67;=836=4R%LH=%3;%39F3;6?%Q3PI?;=S%A78?7F?8R%
(ZS%&89?8%MdR%O>:6>%DQ?3^D%7E%`L3;^%9?Q7D:=Da%3QQC:?D%I?8?CP%
=7%6,(L4=%O>7%O?8?%=>?;%H;9?8%3%D78=%7E%67IQHCD:7;%=7%366?Q=%
`9?Q7D:=DSa%+?8?R%=>?%@H83C%,87<8?DD%59IS%O3D%H;9?8%('%67IQHCV
D:7;S%"E%3=%3CCR%:=%O3D%!8HT%O>7%O3D%67IQ?CC?9%=7%Q3P%=>?%9?Q7D:=%
8?XH:8?9S%!8HTR%>7O?F?8R%D>7HC9%L?%68?9:=?9%7;CP%O:=>%=>?%F3CH?%
:;%=>?%b3CC3;=P;?%.63C?R%3D%=>?%9?Q7D:=%67HC9%>3F?%L??;%8?=H8;?9%
9H8:;<%=>?%O38S
294% M/$(% +/$% Z,--,(+5($% D&,-$% 4/'"-)% 6$% '#% 4/'"-)% ('+% 6$%
"4$)G
/4%
"E%=>?%9?L=%O3D%67;=836=?9%9H8:;<%=>?%766HQ3=:7;%3;9%
O3D%Q3P3LC?%&-%'(A5-'R%LH=%;7=%P?=%Q3:9%O>?;%
C:L?83=:7;%63I?R%<?=%=>?%#5$i(%7E%=>?%9?L=%Y
34%
366789:;<% =7% ,&+",-% $F&/,(J$% #,+$% 3=% =>?% =:I?%
:=%O3D%9H?R%L?=O??;%<?;H:;?%6H88?;6P%3;9%=>?%
g3Q3;?D?%;7=?D%786$(),('%19%`,'%D"%W'(=%c[8e%
@C%S9N9%;PB>%,()%Z,#&$-'(%19%8#,06"-'=%c[8e%
@<%S9N9%P>C;?h
L4%
78% :E% DH6>% 36=H3C% ?Z6>3;<?% 83=?% 67HC9% ;7=% L?%
Q87F?9R% 366789:;<% =7% =>?% b3CC3;=P;?% .63C?S%
7M*-4'(% 19% Z$#L$(L'++$#=% >Q% K/*-9% >:<h% D'#*,('%
19%86,-'4=%<@%K/*-9%QU;%,()%N'0$k%19%W,6*,=%<@%
K/*-9%Q;>?9
J4%
"E%=>?%9?L=%O3D%67;=836=?9%9H8:;<%=>?%g3Q3;?D?%76V
6HQ3=:7;%3;9%O3D%Q3P3LC?%'i@"-h%=>?%766HQ3=:7;%
74,0$%,4%V'9%:?9%7H$#(,()$k=%$+%,-9%19%V,+9%R(49%['9=%NX%
OA>@:;=%Y,(9%QC=%:>B>?9
%
%
cVSWEG% "E% 3% 6>?6^% 8?6?:F?9% 3D% Q3PI?;=% O3D%
),+$)%g3;S%1R%/dM1%2g3Q3;?D?%766HQ3=:7;%Q?8:794%LH=%
K0]
%
58=S%/JMd
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
O3D% !#$4$(+$)% E78% Q3PI?;=% 7;CP% 7;% -7FS% /1R% /d1M%
2Q7D=VC:L?83=:7;% Q?8:794R% =>?% 6>?6^% IHD=% L?% Q3:9% :;%
3667893;6?%O:=>%=>?%b3CC3;=P;?%D6>?9HC?%7E%F3CH?DR%
E78%3E=?8%3CCR%:=%O3D%Q3P3LC?%9H8:;<%=>?%g3Q3;?D?%76V
6HQ3=:7;S%7N,#&*,%19%KVZ=%OA:@>>;=%T,5%P:=%:>;:?9e
K4%
"E%=>?%9?L=%O3D%67;=836=?9%9H8:;<%=>?%g3Q3;?D?%76V
6HQ3=:7;% 3;9% O3D% Q3P3LC?% ("*+(@% 'i@"-h% +/$%
'&&"!,+*'(%78%5)*(@%-*6$#,+*'(%2D3I?%3D%-7S%/4S
%
cEF,0!-$G
%
%
I%L7887O?9%E87I%[%,/RUUU%:;%/dMJR%3;9%>?%Q87IV
:D?9%=7%Q3P%:=%'(%78%6$2'#$%g3;S%0R%/d1JS%+?8?%:=%:D%6C?38%
=>3=%=>?%6$($!%+%7E%=>?%=?8I%:D%<:F?;%=7%I=%=>?8?E78?%>?%
67HC9%>3F?%Q3:9%:=%)"#*(J%=>?%766HQ3=:7;%78%,2+$#%C:L?83V
=:7;%2/dM14S%*>?8?E78?R%=>?%8HC?D%<:F?;%3L7F?%63;%3QQCPS%
7D$$%T$#&,)'%19%T$#&,)'=%OA:@@;:=%8"J9%Q>=%:>;Uh%4$$%
,-4'%8J"*-,#%19%T*#,(),=%OA:;B:U=%V'19%Q>=%:>;:%,()%
D$#1$#%19%[,#=%OAQQ;C;=%V'19%QP=%:>;;?9e
M4%
"E%=>?%9?L=%O3D%67;=836=?9%9H8:;<%=>?%766HQ3=:7;%LH=%
O3D%Q3P3LC?%7;CP%5)*(@%C:L?83=:7;%7EF,0!-$G%i!,5%
*(% :>C@j?=% J$("*($% K/*-*!!*($% &"##$(&5% Ai.*% b(%
,5"'%2;7=%=>?%?XH:F3C?;=%36=H3C%?Z6>3;<?%83=?%-&@%
:;%3667893;6?%O:=>%=>?%b3CC3;=P;?%.63C?4S%7M*-4'(%19%
Z$#L$(L'++$#=%>Q%K/*-9%>:<h%K'(&$%)$%O$'(%19%D53"&'=%
R(&9=%>U%K/*-9%P::h%X'('%19%N'0$k=%<P%K/*-9%<>Uh%N,#A
&*,%19%I$%-'4%D,(+'4=%>P%K/*-9%;<Ph%b,#$%,()%Z,"4,%19%
R0!$#*,-=%$+%,-9=%OAC>U;%,()%OA:U:C;=%S&+9%QQ=%:>BCh%
H'(J%19%Y,1*$#=%OA::UB>=%T,#9%QB=%:>;Uh%I*k'(%19%8#A
#,4+#*,=%OA:BP<P=%V'19%Q>=%:>;:h%8J"*-,#%19%T*#,(),=%
OA:;B:U=%V'19%Q>=%:>;:%,()%D$#1$#%19%[,#=%OAQQ;C;=%
V'19%QP=%:>;;?9
%
%
7VSWEG%";%=>?%63D?%7E%D+$#(6$#J%,()%D+$#(6$#J%
19%D'-'0,(=%OA:U;>:=%Y,(9%P:=%:>B<=%:=%O3D%>?C9%=>3=%
O>?8?%=>?%9??9%7E%I78=<3<?%93=?9%5H<S%]R%/dMM%Q87V
F:9?9%=>3=%=>?%7LC:<3=:7;%D?6H8?9%=>?8?LP%D>3CC%L?%Q3:9%
7;?%P?38%E87I%=>?%93=?%=>?8?7ER%78%7;%5H<S%]R%/dM1R%
`3;9%?ZQ8?DDCP%3<8??9%;7=%D77;?8Ra%:=%:D%H;9?8D=779%
=>3=%=>?%D3I?%O3D%Q3P3LC?%'(-5%,2+$#%-*6$#,+*'(%3;9R%
=>?8?E78?R%IHD=%L?%Q3:9%:;%K/*-*!!*($%&"##$(&5%'(%+/$%
!$4'A+'A!$4'%6,4*49?
K00
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%/JMd
%
%
7VSWEG%";%=>?%63D?%7E%b,#$%n%Z,"4,%19%R0!$#*,-=%
$+%,-9=%OAC>U;%,()%OA:U:C;=%S&+9%QQ=%:>BC=%=>?%!7H8=%
D3:9%=>3=%7;?%7E%=>?%8?3D7;D%E78%=>3=%8HC:;<%:D%=>3=%=>?%
Q38=:?D%:;%D=:QHC3=:;<%=7%>3F?%=>?%I7;?=38P%7LC:<3=:7;%
9:D6>38<?9%;7=%L?E78?%LH=%3E=?8%=>?%=?8I:;3=:7;%7E%=>?%
O38R%:;=?;9?9%=7%>3F?%=>?%D3:9%7LC:<3=:7;%Q3:9R%('+%:;%
g3Q3;?D?%O38%;7=?D%;78%=>?:8%F3CH?R%LH=%:;%,>:C:QQ:;?%
6H88?;6PS
%
%
";6:9?;=3CCP%=77R%:;%D3:9%63D?R%O>?8?%=>?%Q38=:?D%
3<8??9%=>3=%Q3PI?;=%O7HC9%L?%I39?%;7=%D77;?8%=>3;%
D:Z%I7;=>D%;78%C3=?8%=>3;%?:<>=??;%I7;=>D%3E=?8%=>?%
`=?8I:;3=:7;%7E%=>?%h8?3=?8%(3D=%5D:3%O38Ra%=>?%67H8=%
>?C9%=>3=%=>?%=?8I:;3=:7;%7E%DH6>%O38%:D%=7%L?%L3D?9%
7;%:=D%C?<3C%I?3;:;<%78%-$J,-%4$(4$R%;3I?CPR%=>?%'2!%&*,-%
!#'&-,0,+*'(%O>:6>%O3D%I39?%7;%I$&9%P:=%:>@;9?
%
cVSWEG%c>?8?%H;9?8%=>?%67;=836=R%=>?%F?;978D%O?8?%
3CC7O?9%=7%?Z?86:D?%+/$*#%#*J/+%+'%#$!"#&/,4$%O:=>:;%=>?%Q?V
8:79%7E%/U%P?38D%E87I%=>?%93P%7E%?Z?6H=:7;%2)?LS%JJR%/dMM4%7;%
67;9:=:7;%=>3=%=>?P%I3P%?Z?86:D?%=>?:8%8:<>=%7;CP%,2+$#%=>?%
?ZQ:83=:7;%7E%=>?%!%8D=%!%F?%P?38DR%=>:D%8:<>=%L?63I?%F?D=?9%
7;CP%3E=?8%=>?%C:L?83=:7;%7E%=>?%,>:C:QQ:;?DS%+?;6?R%Q3PI?;=%
63;%7;CP%L?%?EE?6=?9%:;%3667893;6?%O:=>%=>?%Q8?D?;=%6H8V
8?;6PS%7[$5#,4=%$+%,-9%19%_-,(),5=%OA:QCUU=%Y"(9%Q>=%:>B>?9e
d,-"$%'2%S($%K$4'%7K:9UU?%'2%K/*-*!!*($%["##$(&5%*(%W$#04%
'2%Y,!,($4$%T*-*+,#5%V'+$4%R44"$)%*(%+/$%K/*-*!!*($4
%
A&-*+.%
/dMJ%
/dMK%
/dMM%
/dM1
%
%
%
%
%
%
%
%
%
%
%
%
g3;H38P%
)?L8H38P%
A386>%
5Q8:C%/SUU%
A3P%/SUU%
gH;?%/SUU%
gHCP%/SUU%
5H<HD=%
.?Q=?IL?8%
&6=7L?8%
-7F?IL?8%
'?6?IL?8%
/SUU%
/SUU%
/SUU%
/SJU%
/SJ1%
/SKU%
/SMU%
/SUU%
/SUU%
/SUU%
/SUU%
/SUU%
/SU1%
/S/U%
/S/1%
dSUU
/JSUU
/1SUU
JUSUU
/S1U%
/SNU%
/S]U%
/S0U%
JS1U%
MSUU%
1SUU%
NSUU
/JSUU
-&-(
K0d
J1SUU
KUSUU
MUSUU
NUSUU
dUSUU
%
58=S%/JMd
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
[*>:D%D63C?%O3D%=3^?;%E87I%=>?%b:CC%D?;=%LP%,8?D:9?;=%&DI?s3%=7%
!7;<8?DD%7;%'?6?IL?8%/KR%/dM1S%A8S%b3CC3;=P;?%O3D%3%.Q?6:3C%
b3;^%59F:D?8%=7%=>?%,8?D:9?;=S%i;E78=H;3=?CPR%=>?%b:CCR%3C=>7H<>%
3QQ87F?9%LP%!7;<8?DD%7E%=>?%,>:C:QQ:;?DR%O3D%;7=%3QQ87F?9%LP%
=>?%,8?D:9?;=%7E%=>?%i;:=?9%.=3=?D%=7%O>:6>%:=%>39%L??;%D?;=%E78%
3QQ87F3CS%-?F?8=>?C?DDR%=>?%b3CC3;=P;?%.63C?%>3D%L??;%3QQC:?9%
:;%D?F?83C%:;D=3;6?D%L7=>%LP%=>?%,>:C:QQ:;?%.HQ8?I?%!7H8=R%3;9%
LP%=>?%,>:C:QQ:;?%!7H8=%7E%5QQ?3CDS%*>?%.63C?%:D%;7O%3%I3==?8%
=>3=%67I?D%O:=>:;%WH9:6:3C%;7=:6?R%:;3DIH6>%3D%:=%>3D%;7O%L?67I?%
Q38=%7E%7H8%WH8:DQ8H9?;6?S%.7R%?F?;%:E%;7=%D?=%HQ%3D%3%9?E?;D?%78%
Q87F?9R%:=%I3P%L?%67;D:9?8?9S%7O'!$k%19%S&/',=%OAC>BB=%T,5%PU=%
:>B<?9\
XFY& 3""9$(4#(%10&!#$0$
&
&
&
7""%$)*&A2&O%--$@&0('2&12&J9").%)&/)64%.90a@&G42@&0('2
:;CFDF@&79.2&B@&CDFD
Xe#"%6%(Q&)+&A#8#*0$0&M4#*$#'(%)*$Y
&
%
H8[WDG%8%I78=<3<?9%=O7%Q386?CD%7E%C3;9%=7%ZR%3;%5I?8:63;%
67IQ3;P%:;%=>?%,>:C:QQ:;?DS%8%3DD:<;?9R%O:=>%=>?%67;D?;=%7E%Z=%
>:D%78\4?%8:<>=D%=7%[S%'H8:;<%=>?%g3Q3;?D?%766HQ3=:7;R%[%Q3:9%7EE%
=>?%I78=<3<?%=7%=>?%'?Q38=I?;=%7E%(;?IP%,87Q?8=P%?D=3LC:D>?9%
LP%=>?%g3Q3;?D?%A:C:=38P%59I:;:D=83=:7;S%*>?%@?<:D=?8%7E%'??9D%
=>?;%63;6?CC?9%=>?%I78=<3<?S%-7O%Z%L8:;<D%=>:D%36=:7;%3<3:;D=%
[%E78%=>?%3I7H;=%7E%=>?%I78=<3<?R%3;9%3<3:;D=%=>?%@?<:D=?8%7E%
'??9D%E78%=>?%8?D=783=:7;%7E%=>?%I78=<3<?S%R44"$G%c3D%=>?%Q3PV
I?;=%LP%[%=7%=>?%bH8?3H%7E%(;?IP%,87Q?8=P%F3C:9f
%
%
`EOIG%*>?%XH?D=:7;%:;F7CF?9%:;%=>?%:;D=3;=%63D?%:D%O>?=>?8%
78%;7=%=>?%Q3PI?;=%7E%=>?%I78=<3<?%9??9%=7%=>?%bH8?3H%7E%(;?IP%
,87Q?8=P%:D%F3C:9S%";%=>?%`,.%K*,%!3D?R%=>?%67H8=%>?C9%=>3=%DH6>%
67CC?6=:7;%7E%68?9:=%O3D%;7=%3%67;!%D63=:7;%LH=%3%D?XH?D=83=:7;%
7E%=>?%?;?IP%Q8:F3=?%Q87Q?8=:?D%3;9R%=>?8?E78?R%=>?%Q3PI?;=%LP%
+3O%,:3%=7%=>?%b3;^%7E%*3:O3;%O3D%F3C:9%3;9%8?C?3D?9%QC3:;=:EE_D%
7LC:<3=:7;%=7%=>?%9?E?;93;=%b3;^S%";%=>?%Q8?D?;=%63D?R%=>?%:DDH?%
:D%D:I:C38S%*>?8?E78?R%=>?%9?6:D:7;%D>7HC9%L?%=>?%D3I?R%=>3=%:DR%
[%>3D%3C8?39P%Q3:9%7EE%=>?%I78=<3<?R%3;9%=>?%@?<:D=?8%7E%'??9D%
36=?9%C?<3CCP%O>?;%>?%63;6?CC?9%=>?%I78=<3<?S%+?;6?R%Z%63;;7=%
8?67F?8%3;P=>:;<%E87I%[9
KdU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMd
&
&
&
&
L)5%*.)&79440)')0'S#&12&
k#-#*T#"#*&G9.#4&!)2@&3*'2
EC&HS%"2&FP<
XL0+0*$0&)+&7""0.06&L940$$Y
&
%
H8[WDG%,C3:;=:EE%>39%3%9?Q7D:=%3667H;=%O:=>%=>?%9?E?;93;=%
678Q783=:7;S%&;%S&+'6$#%:Q=%:>@:=%QC3:;=:EE%;7=:!%?9%=>?%9?E?;9V
3;=%7E%>:D%2=>?%QC3:;=:EE_D4%:;=?;=:7;%=7%O:=>983O%3CC%>:D%9?Q7D:=DS%
b?63HD?% 7E% =>?% 7H=L8?3^% 7E% =>?% O38R% :=% O3D% 7;CP% 7;% 5Q8:C% /0R%
/dMK%=>3=%=>?%9?E?;93;=%36=?9%7;%=>?%QC3:;=:EE_D%3QQC:63=:7;%E78%
O:=>983O3CS% &;% D3:9% 93=?R% =>?% QC3:;=:EE% 8?6?:F?9% >:D% L3C3;6?R%
3I7H;=:;<%=7%,11Rd1]S]1S%*>?%E7CC7O:;<%93PR%=>?%QC3:;=:EE%9?V
Q7D:=?9% D3:9% 3I7H;=% O:=>% =>?% ,>:C:QQ:;?% -3=:7;3C% b3;^S% bP%
C:L?83=:7;%=:I?R%QC3:;=:EE%9:9%;7=%>3F?%3;PI78?%I7;?PS%,C3:;=:EE%
L87H<>=%=>:D%36=:7;%=7%8?67F?8%E87I%=>?%9?E?;93;=%678Q783=:7;%
=>?%3I7H;=%7E%,11Rd1]S]1%7;%=>?%<87H;9%=>3=%>?%366?Q=?9%=>?%
I7;?P%H;9?8%9H8?DD%L?63HD?%>?%O3D%3E83:9%=>3=%:E%>?%8?EHD?9R%
>?%O7HC9%L?%=3^?;%=7%)78=%.3;=:3<7S%R44"$G%c3D%=>?%Q3PI?;=%=7%
QC3:;=:EE%:;%g3Q3;?D?%O38%;7=?D%F3C:9%DH6>%=>3=%=>?%9?E?;93;=%
678Q783=:7;%>3D%?Z=:;<H:D>?9%:=D%7LC:<3=:7;f
%
%
`EOIG%B?DS%,3PI?;=%7E%Q8?VO38%9?L=D%:;%g3Q3;?D?%I7;?P%
9H8:;<%=>?%766HQ3=:7;%:DR%3D%3%<?;?83C%8HC?R%F3C:9S%*>?%DHQQ7D?9%
=>8?3=%78%9H8?DD%>?8?%O3D%6?8=3:;CP%;7=%7;?%=7%:;DQ:8?%<?;H:;?%
E?38%:;%3%I3;%7E%=>?%QC3:;=:EE_D%Q7D:=:7;S%5;9%?F?;%:E%=>?%Q3PI?;=%
:;%g3Q3;?D?%I7;?P%9:9%;7=%?Z=:;<H:D>%=>?%7LC:<3=:7;%D=:CC%>:D%
DHLD?XH?;=%36=%7E%I3^:;<%HD?%7E%=>?%I7;?P%83=:!%?9%=>?%Q3PI?;=S%
h83;=:;<%=>3=%>?%O3D%=>8?3=?;?9%:;=7%366?Q=:;<%=>?%I7;?PR%>?%
O3D%;7=%:;%3;P%O3P%67IQ?CC?9%=7%DQ?;9%D3:9%I7;?PS
&
&
&
HS%"%88%*0&M49$(&!)2&12&:9%$&V#2&74#*0(#@&0(&#"2
EB&HS%"2&CB?
XK)&!)""0'(%10&)4&O0*04#"&L940$$Y
%
%
H8[WDG%b?E78?%=>?%O38R%583;?=3%7O?9%=>?%,>:C:QQ:;?%*8HD=%
!7S%=>?%DHI%7E%,KRN0KSNUR%D?6H8?9%LP%D7I?%6?8=:!%63=?%7E%D=76^S%
&;% A3P% JR% /dMM% =>?% !7IQ3;P% I39?% 3% 9?I3;9% 7;% 583;?=3S%
583;?=3%Q3:9R%LH=%=>?%6?8=:!%63=?D%7E%D=76^D%QC?9<?9%67HC9%;7=%L?%
<:F?;%L?63HD?%366789:;<%=7%=>?%!7IQ3;PR%=>?P%>39%L??;%=H8;?9%
7F?8%=7%=>?%iS.S%E78%D3E?^??Q:;<%9H8:;<%=>?%O38S%5E=?8%C:L?83=:7;R%
583;?=3%3D^?9%=>?%67IQ3;P%E78%=>?%8?=H8;%7E%=>?%6?8=:!%63=?D%7E%
D=76^DR%LH=%=>?%67IQ3;P%8?EHD?9%=7%97%D7%7;%=>?%<87H;9%=>3=%Q3PV
I?;=%:;%g3Q3;?D?%O38%;7=?D%O3D%;7=%F3C:9%L?63HD?%7E%&'--$&+*1$%
78%J$($#,-%)"#$44S
Kd/
%
58=S%/JMd
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
`EOIG%";%=>?%`,.%K*,%63D?R%;7=?%=>3=%H;9?8%=>?%8HC?D%7E%
,HLC:6%";=?8;3=:7;3C%$3OR%=>?%8:<>=%7E%=>?%I:C:=38P%766HQ3;=%:;%
=>?%?Z?86:D?%7E%>:D%<7F?8;I?;=3C%Q7O?8%=7%789?8%=>?%C:XH:93=:7;%
7E%?;?IP%L3;^D%3;9%=>?%8?7Q?;:;<%7E%7=>?8D%:;%=>?%766HQ:?9%=?8V
8:=78PR%3D%O?CC%3D%=7%:DDH?%I:C:=38P%6H88?;6P%3D%C?<3C%=?;9?8R%>3D%
L??;%67;6?9?9S
%
%
"=%:D%?F:9?;=%=>3=%=>?%Q3PI?;=%I39?%LP%=>?%8?DQ7;9?;=%
2583;?=34%3;9%366?Q=?9%LP%=>?%Q?=:=:7;?8%2,>:C:QQ:;?%*8HD=%!7S4%
9H8:;<%=>?%g3Q3;?D?%766HQ3=:7;%:;%67IQC:3;6?%O:=>%=>?%D3:9%
789?8D%7E%=>?%g3Q3;?D?%I:C:=38P%766HQ3;=R%63;;7=%L?%67;D:9?8?9%
3D%I39?%H;9?8%3%67CC?6=:F?%3;9%<?;?83C%9H8?DDR%L?63HD?%3;%36=%
97;?%QH8DH3;=%=7%=>?%C3OD%78%789?8D%7E%67IQ?=?;=%3H=>78:=:?D%63;%
;?F?8%L?%8?<389?9%3D%?Z?6H=?9%:;F7CH;=38:CP%78%H;9?8%9H8?DD%7E%
:CC?<:=:I3=?%67;D=83:;=%7E%67IQHCD:7;%=>3=%:;F3C:93=?D%=>?%36=Sa
&
&
&
L0&7$%$&12&N90*1%#U0@&0(&#"2
F=&,2O2&K)2&C@&82&BCP
XG0""04&N0*0!&(06&R%(S&I$0&)+&A#8#*0$0&V)*0QY
%
%
H8[WDG%8%D7C9%Z%D7I?%Q87Q?8=:?D%9H8:;<%=>?%g3Q3;?D?%76V
6HQ3=:7;S%8%8?6?:F?9%O38%;7=?D%3D%Q3PI?;=S%5E=?8%C:L?83=:7;R%8%
D7H<>=%=7%8?67F?8%=>?%Q87Q?8=:?D%7;%<87H;9%=>3=%=>?%I7;?P%Q3:9%
=7%>:I%O3D%O78=>C?DDS%R44"$G%"D%8%6788?6=f
%
%
`EOIG% 8% :D% ;7=% 6788?6=S% b?63HD?% 8% O:CC:;<CP% D7C9% D3:9%
Q87Q?8=:?D%3;9%6$($!%+$)%.*+/%+/$%"4$%'2%+/$%!"#&/,4$%0'($5=%>?%
63;;7=%;7OR%7;%=>?%<87H;9R%3==36^%=>?%F3C:9:=P%7E%=>?%D3C?S%`*>?%
g3Q3;?D?%O38%;7=?D%O?8?%-$J,-%+$()$#%9H8:;<%=>?%766HQ3=:7;%3;9%
:;%A38S%/dMKR%O>?;%=>?%D3C?%:;%XH?D=:7;%O3D%I39?R%=>?P%O?8?%3=%
Q38%O:=>%,>:C:QQ:;?%6H88?;6PS%*>7D?%O>7%D7C9%=>?:8%Q87Q?8=:?D%
=>?;%3;9%F7CH;=38:CP%366?Q=?9%D3:9%;7=?D%:;%Q3PI?;=%=>?8?E78%
>3F?%=7%DHEE?8%=>?%67;D?XH?;6?D%O>?;%=>?%;7=?D%9?Q8?6:3=?9%:;%
F3CH?%78%L?63I?%O78=>C?DDSa
&
&
&
&
V)*60U#4&12&K%')")
FB&,2O2&K)2&C?@&82&=>DD
XZS0*&[J504.0*'Q&K)(0$]&!0#$06&
()&N0&:0.#"&M0*604Y
&
H8[WDG%8%O3D%3%DHLVC?DD78R%3;9%%Z=%3%DHLVC?DD??S%";%Q3PV
%
I?;=%7E%8?;=3CDR%Z%O3D%Q3P:;<%8%`?I?8<?;6P%;7=?Da%LH=%D:;6?%8%
9:9%;7=%O3;=%=7%366?Q=R%Z%9?Q7D:=?9%=>?%I7;?P%O:=>%=>?%AH;:6:Q3C%
KdJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMd
*8?3DH8?8_D%&E!%6?%7;%5Q8S%]R%/dM1S%"=%O3D%Q87F?9R%>7O?F?8R%=>3=%
7;%D3:9%93=?R%=>?%`?I?8<?;6P%;7=?Da%O?8?%;7%C7;<?8%C?<3C%=?;9?8S%
R44"$G%c3D%=>?%9?Q7D:=%:;%=>?%7E!%6?%?XH:F3C?;=%=7%Q3PI?;=f
%
%
`EOIG% -7R% D3:9% 9?Q7D:=% O3D% ;7=% ?XH:F3C?;=% =7% Q3PI?;=%
L?63HD?%3=%=>3=%=:I?R%=>?%`?I?8<?;6P%;7=?Da%O?8?%;7%C7;<?8%C?<3C%
=?;9?8S%*>?P%O?8?%<779%7;CP%HQ%=7%-7FS%/0R%/dMM%LP%F:8=H?%7E%(ZS%
&89?8%J1S
&
&
&
b04*#*60a@&0(&#"2&12
K#(2&3*$94#*'0&!)2&)+&(S0&HS%"%88%*0$
:;DCF<@&A#*2&?P@&CD=P
%
%
H8[WDG% gH3;% )?8;3;9?T_% C:E?% O3D% :;DH8?9% 7;% gHCP% /1R%
/dMMS%+?%9:?9%7;%-7FS%JR%/dMMS%";%/d1JR%=>?%L?;?!%6:38:?D%6C3:I%
=>?%:;9?I;:=PS%&;%gHCS%dR%/d1MR%Q877E%7E%9?3=>%O3D%3QQ87F?9%LP%
=>?%67IQ3;PS%i;9?8%=>?%";DH83;6?%$3OR%3%C:E?%:;DH83;6?%Q7C:6PR%
:;%=>?%3LD?;6?%7E%3%9?!%;:=?%Q?8:79R%I3=H8?D%HQ7;%'(5*+R%3;9%
Q3PI?;=%7E%:;9?I;:=P%IHD=%L?%I39?%O:=>:;%NU%93PD%E87I%Q877E%7E%
9?3=>S%R44"$G%c>?;%9:9%=>?%7LC:<3=:7;%7E%=>?%:;DH83;6?%67IQ3;P%
=7%Q3P%=>?%:;9?I;:=P%3668H?G%:;%/dMM%29?3=>4%78%:;%/d1M%23QQ87F3C%
7E%Q877E%7E%9?3=>4f%"E%:;%/dMMR%=>?%b3CC3;=P;?%D63C?%63;%L?%HD?9R%
E78%:=%63;%L?%D3:9%=>3=%=>?%7LC:<3=:7;%387D?%9H8:;<%=>?%g3Q3;?D?%
766HQ3=:7;e%:E%:;%/d1MR%=>?%b3CC3;=P;?%D63C?%63;;7=%7LF:7HDCP%L?%
HD?9S
%
%
`EOIG%*>?%7LC:<3=:7;%3668H?9%:;%/dMM%O>?;%=>?%:;DH8?9%
9:?9R%>?;6?%=>?%b3CC3;=P;?%D63C?%63;%L?%HD?9S%*>?%D:Z=PV93P%Q?V
8:79%!%Z?9%:;%=>?%";DH83;6?%$3O%:D%I?8?CP%!#'&$)"#,-%:;%;3=H8?e%
:=%:D%=>?%9?3=>%=>3=%I3=H8?D%=>?%Q7C:6PS
X=Y& G(%89"#(%)*&)+&7*)(S04&!9440*'Q
234% i;9?8%=>?%!%8D=%Q383<83Q>%7E%58=S%/JMdR%Q3PI?;=%I3P%L?%
?:=>?8G
/4%
:;%=>?%&"##$(&5%4+*!"-,+$)h
J4%
78%:E%:=%:D%;7=%Q7DD:LC?%=7%9?C:F?8%DH6>%6H88?;6PR%=>?;%
:;%K/*-*!!*($%-$J,-%+$()$#9
2L4% .3:9%!%8D=%Q383<83Q>%7E%58=S%/JMd%>3D%3C8?39P%L??;%0')*!%$)%
65%X8%BQ>9
KdK
%
58=S%/JMd
%
264%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
i;9?8%=>?%D3:9%56=R%7LC:<3=:7;D%:;6H88?9%5)*(@%@?QS%
56=%1Jd%2gH;S%/NR%/d1U4R%O>:6>%38?%E78%=>?%QH8Q7D?%7E%Q3PV
I?;=%:;G
/4%
3%2'#$*J(%6H88?;6P
J4%
3;% 3I7H;=% 7E% ,>:C:QQ:;?% I7;?P% =7% L?% 0$,4"#$)% LP%
J'-)%'#%2'#$*J(%&"##$(&5=%D>7HC9%L?%;HCCR%F7:9%3;9%7E%
;7%?EE?6=S
@?QS%56=%1JdR%:;%67;;?6=:7;%O:=>%58=S%/JMd%7E%=>?%!:F:C%!79?R%
>3D%L??;%9:D6HDD?9%LP%=>?%.HQ8?I?%!7H8=%:;%=>?%E7CC7O:;<%
63D?DR%3I7;<%7=>?8DG
/4%
E,4+6',#)%V,1*J,+*'(%['9%19%f40,$-%,()%['9=%OA>U>U=%
D$!+9%:U=%:>BC9
J4%
8##*$+,% 19% V,+*'(,-% X*&$% ,()% ['#(% ['#!9=% OA:B;@B=%
Y,(9%P:=%:>;@9
%
*>HDR%=>?%!7H8=%>3D%8HC?9%=>3=%:E%=>?%9?L=78%Q87I:D?D%
=7%Q3P%:;%3%6H88?;6P%'+/$#%+/,(%,>:C:QQ:;?%C?<3C%=?;V
9?8R% =>?% D=:QHC3=:7;% O:=>% 8?DQ?6=% =7% =>?% 6H88?;6P% :D%
#&"'S%5CC%=>3=%=>?%68?9:=78%63;%9?I3;9%:D%Q3PI?;=%
:;%,>:C:QQ:;?%C?<3C%=?;9?8%I?3DH8?9%3=%=>?%?Z6>3;<?%
83=?%Q8?F3:C:;<%('+%3=%=>?%=:I?%7E%Q3PI?;=R%LH=%3=%=>?%
=:I?%7E%&'(+#,&+*(J%'#%*(&"##*(J%=>?%9?L=S%7D$$%8##*$+,%
19%V,+*'(,-%X*&$%,()%['#(%['#!9=%OA:B;@B=%Y,(9%P:=%
:>;@?9
294% +7O?F?8R%@5%1Jd%>3D%:;%=H8;%L??;%3I?;9?9%LP%@5%M/UUR%
O>:6>%=77^%?EE?6=%7;%gH;S%/dR%/dNMS
&
&
&
HS)0*%`&7$$94#*'0&!)58#*Q&12
V#')*64#Q&#*6&!)2@&3*'2
:;?=>FE@&V#Q&CB@&CDP=
&
%
RDD_EG%"E%3%67H8=%WH9<I?;=%D=3=?D%=>3=%3;%3I7H;=%
:;%)'--,#4%:D%DHQQ7D?9%=7%L?%Q3:9%=>?%O:;;:;<%Q38=PR%O>3=%
=3LC?%7E%67;F?8D:7;%27E%?Z6>3;<?%83=?D4%IHD=%L?%HD?9%Y%=>3=%
3=%=>?%=:I?%=>?%67;=836=%O3D%$(+$#$)%:;=7R%=>3=%3=%=>?%=:I?%
7E%3")J0$(+R%78%=>3=%3=%=>?%=:I?%!,50$(+%'#%4,+*42,&+*'(%'2%
+/$%3")J0$(+%:D%I39?f
%
%
`EOIG%*>?%67;F?8D:7;%83=?%3=%=>?%=:I?%7E%!,50$(+%
'#%4,+*42,&+*'(%'2%+/$%3")J0$(+S%"E%D3:9%=:I?%7E%Q3PI?;=%78%
KdM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JMd
D3=:DE36=:7;%:D%9:DQH=?9R%=>?%=8:3C%67H8=%O:CC%9?=?8I:;?%O>?;%
D3:9%Q3PI?;=%78%D3=:DE36=:7;%O3D%I39?S
%
%
[VSWEG%i;9?8%@5%M/UU%O>:6>%=77^%?EE?6=%7;%gH;S%/dR%
/dNM%3;9%O>:6>%3I?;9?9%@?QHLC:6%56=%1Jd%Y%O>:6>%:;%=H8;%
>39%I79:!%?9%58=S%/JMd%7E%=>?%!:F:C%!79?%Y%:;%`:IQ78=V?ZV
Q78=%3;9%7=>?8%:;=?8;3=:7;3C%L3;^:;<R%!%;3;6:3C%:;F?D=I?;=%
3;9%:;9HD=8:3C%=83;D36=:7;D__%=>?%Q38=:?D_%3<8??I?;=%3D%=7%
6H88?;6P%:;%O>:6>%3;%7LC:<3=:7;%O:CC%L?%Q3:9%:D%b"-'"-hS\%
2*>:D%O3D%3%-&*(%:;%=>?%K/'$(*F%63D?S4
%
%
[VSWEG%b?E78?%=>?%?EE?6=:F:=P%7E%@5%M/UUR%=>?%3QQC:V
63LC?%8HC?%O3D%@5%1Jd%O>:6>%<?;?83CCP%Q87>:L:=?9%=83;DV
36=:7;D%:;%E78?:<;%6H88?;6PR%:;6CH9:;<%97CC38DS%*>:D%:D%O>P%
:;%8##*$+,%19%V,+*'(,-%X*&$%n%['#(%['#!'#,+*'(=%OA:B;@B=%
Y,(9%P:=%:>;@=%;Q%S9N9%><:U=%:U%D[X8%C>=%<<=%3;%3O389%7E%
93I3<?D%3I7H;=:;<%=7%tJ0NRUUU%O3D%I39?%Q3P3LC?%:;%,>:CV
:QQ:;?%Q?D7DR%366789:;<%=7%=>?%Q8?F3:C:;<%83=?%7E%?Z6>3;<?%
7;%gHCS%/R%/d1JR%O>?;%=>?%67;=836=%O3D%?Z?6H=?9%2;7=%O>?;%
=>?%67;=836=%O3D%D3=:D!%?94S%*>?%Q3PI?;=%:;%97CC38D%L?:;<%
F7:9R%Q3PI?;=%IHD=%L?%I39?%:;%Q?D7DR%H;9?8D=779%=7%L?%3=%
=>?%67;F?8D:7;%83=?%O>?;%=>?%67;=836=%O3D%?;=?8?9%:;=7R%
;7=%O>?;%=>?%3I7H;=%:D%Q3:9%78%D3=:D!%?9S\
&
&
i#.#"#&12&A%50*0a
O/&BB>=>@&A9"2&?B@&CDEP
%
%
5%WH9<I?;=%3O389:;<%3;%3I7H;=%:;%iS.S%97CC38D%I3P%
L?%Q3:9%O:=>%:=D%?XH:F3C?;=%3I7H;=%:;%C763C%6H88?;6P%:;%=>?%
67;F?8D:7;%83=?%Q8?F3:C:;<%3=%=>?%=:I?%7E%Q3PI?;=S%"E%=>?%
Q38=:?D%63;;7=%3<8??%7;%=>?%D3I?R%=>?%=8:3C%67H8=%D>7HC9%
9?=?8I:;?%DH6>%67;F?8D:7;%83=?S%-??9C?DD%=7%D3PR%=>?%WH9<V
I?;=%9?L=78%I3P%D:IQCP%D3=:DEP%D3:9%3O389%LP%Q3P:;<%:;%
EHCC%=>?%3I7H;=%:;%iS.S%97CC38DS
%
%
"E%=>?%QC3:;=:EE%!%C?D%3%I7=:7;%=7%!%Z%=>?%Q?D7%F3CH?%7E%
=>?%WH9<I?;=%:;%97CC38DR%=>?P%7;CP%:;=?;9%=7%?Z?86:D?%=>?%
8:<>=%<83;=?9%=7%=>?I%LP%=>?%Q8?D?;=%WH8:DQ8H9?;6?%Y%=>3=%
=>?%=8:3C%67H8=%D>3CC%9?=?8I:;?%78%!%Z%=>?%67;F?8D:7;%83=?%
Q8?F3:C:;<%3=%=>?%=:I?%7E%Q3PI?;=R%3;9%:=%:D%?8878%E78%=>?%
=8:3C%67H8=%=7%9?;P%D3:9%I7=:7;S
Kd1
%
58=S%/JMd
&
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X<Y& I*%+)45&!9440*'Q&:#R
&
&
!2b2&GS#48&f&!)2&12&K)4(SR0$(&7%4"%*0$
O/&CBBFDE@&7842&CE@&?>>?
%
%
*>?%8?Q?3C%7E%@5%1Jd%LP%@5%0/0K%>3D%=>?%?EE?6=%7E%8?I7FV
:;<% =>?% Q87>:L:=:7;% 7;% =>?% D=:QHC3=:7;% 7E% 6H88?;6P% 7=>?8% =>3;%
,>:C:QQ:;?%6H88?;6PR%DH6>%=>3=%7LC:<3=:7;D%78%=83;D36=:7;D%I3P%
;7O%L?%Q3:9%:;%=>?%6H88?;6P%3<8??9%HQ7;%LP%=>?%Q38=:?DS
%
%
gHD=%C:^?%@5%1JdR%>7O?F?8R%=>?%;?O%C3O%97?D%;7=%Q87F:9?%
E78%=>?%3QQC:63LC?%83=?%7E%?Z6>3;<?%E78%=>?%67;F?8D:7;%7E%E78?:<;%
6H88?;6PV:;6H88?9% ?XH:F3C?;=S% "=% E7CC7ODR% =>?8?E78?R% =>3=% =>?%
WH8:DQ8H9?;6?%?D=3LC:D>?9%:;%@5%1Jd%8?<389:;<%=>?%83=?%7E%67;V
F?8D:7;%8?I3:;D%3QQC:63LC?S
%
%
&LC:<3=:7;D% :;% E78?:<;% 6H88?;6P% I3P% L?% 9:D6>38<?9% :;%
,>:C:QQ:;?%6H88?;6P%L3D?9%7;%=>?%Q8?F3:C:;<%83=?%3=%=>?%=:I?%7E%
Q3PI?;=S%*>?%O:D97I%7;%O>:6>%=>?%WH8:DQ8H9?;6?%:;=?8Q8?=:;<%
@5%1Jd%:D%L3D?9%?XH3CCP%>7C9D%=8H?%O:=>%@5%0/0KS%#?8:CPR%:=%:D%
WHD=%3;9%E3:8%=7%Q8?D?8F?%=>?%8?3C%F3CH?%7E%=>?%E78?:<;%?Z6>3;<?V
:;6H88?9%7LC:<3=:7;%=7%=>?%93=?%7E%:=D%Q3PI?;=S
XPY& N#4&
&
%
";%3%/UVP?38%C?3D?%7E%3%D=78?%DQ36?%7;%=>?%E4&'-+,%=7%L?%93=?9%
=793PR%I3P%=>?%Q38=:?D%D=:QHC3=?%=>3=%=>?%8?;=3C%D>3CC%L?%E78%?F?8P%
I7;=>R%=>?%?XH:F3C?;=%8?;=%:;%Q?D7DR%9H8:;<%=>?%Q8?6?9:;<%I7;=>R%
7E%t1UUf%b8:?"%P%?ZQC3:;%P7H8%3;DO?8S
%
%
8VD9G% *>?% Q38=:?D% =7% =>?% C?3D?% 38?% ;7=% 3CC7O?9% =7% D=:QHV
C3=?% =>3=% =>?% 8?;=3CR% 3C=>7H<>% Q3P3LC?% :;% Q?D7DR% D>3CC% L?% =>?%
?XH:F3C?;=%7E%t1UU%L?63HD?%H;9?8%@5%1JdR%DH6>%3%Q87F:D:7;%:D%
67;D:9?8?9%;HCC%3;9%F7:9R%:E%=>?%D3I?%O3D%3<8??9%HQ7;%3E=?8%D3:9%
56=R%O>:6>%3I?;9?9%58=S%/JMd%7E%=>?%;?O%!:F:C%!79?R%L?63I?%
?EE?6=:F?S%.?6S%/%7E%D3:9%56=%D=3=?DG%`(F?8P%Q87F:D:7;%67;=3:;?9%:;%
S%S%S%3;P%7LC:<3=:7;%O>:6>%Q87F:D:7;%QH8Q78=D%=7%<:F?%=>?%7LC:<??%
=>?%8:<>=%=7%8?XH:8?%Q3PI?;=%:;%J'-)%78%:;%3%!,#+*&"-,#%^:;9%7E%
67:;%78%6H88?;6P%'+/$#%=>3;%=>?%,>:C:QQ:;?%6H88?;6PR%'#%*(%,(%
,0'"(+%'2%0'($5%'2%+/$%K/*-*!!*($4%0$,4"#$)%+/$#$65=%D>3CC%L?%
3D%:=%:D%>?8?LP%9?6C38?9%,J,*(4+%!"6-*&%!'-*&5=%("--%,()%1'*)%,()%
'2%('%$22$&+=%3;9%;7%DH6>%Q87F:D:7;%D>3CC%L?%67;=3:;?9%:;R%78%I39?%
O:=>%8?DQ?6=%=7R%3;P%7LC:<3=:7;%>?8?:;3E=?8%:;6H88?9Sa
KdN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%/JMd
%
[VSWEG%@HC?D%E78%7LC:<3=:7;D%:;6H88?9%KXRSX%=7%@?QS%56=%
1Jd%3;9%Q3P3LC?%:;%3%HSXERNV%[_XXEV[fG%
234% "E%:=%O3D%3;%7LC:<3=:7;%2O>:6>%O3D%-&*%3%C73;4R%Q3PI?;=%
D>7HC9% L?% I39?% :;% K/*-*!!*($% &"##$(&5% 3=% =>?% 83=?% 7E%
?Z6>3;<?% Q8?F3:C:;<% 3=% =>?% =:I?% =>?% 7LC:<3=:7;% O3D% "-V
!i@@('S
L4%
"E%:=%O3D%3%$&5-R%Q3PI?;=%D>7HC9%3CD7%L?%:;%,>:C:QQ:;?%
6H88?;6P%3=%=>?%83=?%7E%?Z6>3;<?%Q8?F3:C:;<%3=%=>?%=:I?%7E%
=>?%4+*!"-,+$)%93=?%7E%Q3PI?;=S%7X8%BQ>?9%+?;6?R%3%C?==?8%
7E%68?9:=%E78%t/MRUUU%7L=3:;?9%7;%78%L?E78?%/dMd%IHD=%L?%
Q3:9%:;%,>:C:QQ:;?%6H88?;6P%3=%=>?%83=?%7E%,J%E78%t/%:;D=?39%
7E%,JSM/%E78%?F?8P%97CC38R%D:;6?%@5%1Jd%63;;7=%:IQ3:8%7LV
C:<3=:7;D%:;6H88?9%Q8:78%=7%:=D%?EE?6=:F:=P%:;%/d1/S%7KVZ%19%
o"-"$+,=%OACQC:=%8"J9%PU=%:>BC%#$*+$#,+$)%*(%KVZ%19%_(*'(%
Z''L4=% OA<@>U=% 8"J9% PU=% :>BC?9% 2";% D3:9% 63D?DR% =>?% 67H8=%
>?C9%=>3=%O>?=>?8%Q3P3LC?%:;%97CC38D%78%:;%=>?%?XH:F3C?;=%
7E%97CC38D%:;%,>:C:QQ:;?%6H88?;6PR%=>?%D3I?%Q8:;6:QC?%O7HC9%
3QQCPS4\
%
%
cVSWEG%"=%>3D%3CD7%L??;%>?C9%=>3=%3%9?L=78%63;;7=%
L?%8?XH:8?9%=7%Q3P%=>?%E78?:<;%?Z6>3;<?%=3ZR%:IQ7D?9%LP%
C3O% 3E=?8% =>?% 7LC:<3=:7;% O3D% 67;D=:=H=?9R% E78% 8?I:==:;<%
=>?%Q3PI?;=%=7%=>?%68?9:=78%3L8739%:;%97CC38DS%7E,4+6',#)%
V,1*J,+*'(%19%f40,$-=%OA>U>U=%D$!+9%:U=%:>BC?9e
XEY& L0"%104Q&)+&!)5504'%#"&3*$(4950*($
234% 5% 6>?6^% :D% ('+% C?<3C% =?;9?8% 3;9R% =>?8?E78?R% =>?% 68?9:=78%
63;;7=%L?%67IQ?CC?9%=7%366?Q=%Q3PI?;=%=>8H%=>:D%I?3;DS%
7Z$-*4,#*'% 19% V,+*1*),)=% ;U% K/*-9% :B;% ,()% d*--,("$1,% 19%
D,(+'4=%;C%K/*-9%;@<?9%*>?%8HC?%3QQC:?D%?F?;%O>?;%Q3PI?;=%
:D%I39?%=>8H%67;D:<;3=:7;%:;%67H8=S%7d*--,("$1,%19%D,(+'4=%
;C%K/*-9%;@<?9
2L4% (F?;%3%6,(L%0,(,J$#\4%&/$&L%:D%;7=%C?<3C%=?;9?8S%7[",5&'(J%
19%X*"4=%@C%S9N9%V'9%;:QB?9
264%
";D=3;6?D%O>?;%3%6>?6^%78%3%67II?86:3C%976HI?;=%D>7HC9%
L?%366?Q=?9%3D%Q3PI?;=G
/4%
O>?;%=>?%68?9:=78%:D%:;%$4+'!!$-%78%>?%>39%Q8?F:7HDCP%
Q87I:D?9%>?%O7HC9%366?Q=%3%6>?6^e
Kd]
%
58=S%/JMd
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
J4%
O>?;%=>?%6>?6^%>3D%C7D=%:=D%F3CH?%L?63HD?%7E%=>?%E3HC=%
7E%=>?%68?9:=78%78#+9%:Q@>=%Q()%!,#9?=%3D%O>?;%>?%>3D%
H;8?3D7;3LCP%9?C3P?9%:;%Q8?D?;=:;<%=>?%6>?6^%E78%Q3PV
I?;=%7K/*-9%V,+9%Z,(L%19%D$$+'=%OA@P<<=%8"J9%:P=%:>BQ?=%
78%O>?;R%:;%=>?%63D?%7E%3%E78?:<;%L:CC%7E%?Z6>3;<?R%=>?%
68?9:=78% ;?<C?6=D% =7% I3^?% 3% Q87=?D=% 7g"*#'4% 19% W,(%
N"*(-,5=%B%K/*-9%;CB?h
K4%
O>?;% Q3PI?;=% 766H8D% ;7=% L?63HD?% 7E% 3% 9?L=% LH=%
L?63HD?% 7E% =>?% ?Z?86:D?% 7E% =>?% 8:<>=% 7E% &'(1$(+*'(,-%
#$)$0!+*'(R%D:;6?%=>:D%8:<>=%:D%3%8:<>=R%3;9%;7=%3%9H=PR%
Q38=:6HC38CP%O>?;%=>?%6>?6^%:D%:;%E36=%9?Q7D:=?9%LP%=>?%
6C?8^%7E%67H8=%O:=>%=>?%L3;^R%3;9%=>?%F?;9??%,%#$+#'%
>3D%Q?=:=:7;?9%=>?%67H8=%=>3=%>?%L?%3CC7O?9%=7%O:=>V
983O%=>?%3I7H;=%7E%=>?%9?Q7D:=S%7['#)$#'%19%D*'4'&'=%
@:%S9N9%V'9%@;@@?9
294% K#'6-$0
%
%
";%Q3PI?;=%7E%>:D%9?L=R%I%Q3:9%[%3%Q87I:DD78P%;7=?%
Q3P3LC?%=7%[\4%789?89%[%366?Q=?9%=>?%Q87I:DD78P%;7=?S%'7?D%
=>:D%I?3;%=>3=%=>?%Q3PI?;=%>3D%L??;%?EE?6=?9f
%
%
8VD9G%-7=%P?=S%*>?%?EE?6=%7E%Q3PI?;=%*(%+/*4%&,4$%O:CC%
L?%Q879H6?9%7;CP%O>?;%=>?%;7=?%>3D%L??;%&,4/$)h%3;9%3CD7R%
?F?;%:E%:=%63;;7=%L?%63D>?9%L?63HD?%7E%=>?%68?9:=78_D%E3HC=S%
78#+9%:Q@>=%!,#9%Q=%[*1*-%[')$?9
2?4% K#'6-$0
%
%
I%:;%Q3PI?;=%7E%3%9?L=R%Q3:9%[R%O:=>%[\4%67;D?;=R%3%
Q87I:DD78P% ;7=?% Q3P3LC?% =O7% I7;=>D% C3=?8S% 'H8:;<% =>?%
:;=?8F?;:;<%Q?8:79R%I3P%[%L8:;<%3;%36=:7;%=7%8?67F?8%E87I%
If
%
%
8VD9G% -7R% E78% H;9?8% =>?% C3OR% Q?;9:;<% =>?% 63D>:;<%
7E%=>?%I?863;=:C?%976HI?;=R%`=>?%36=:7;%9?8:F?9%E87I%=>?%
78:<:;3C%7LC:<3=:7;%D>3CC%L?%>?C9%:;%3L?P3;6?Sa%78#+9%:Q@>=%
-,4+%4$(+$(&$=%[*1*-%[')$?9
&
&
c9%4)$&12&M#*&O9%*"#Q
=&HS%"2&<P=
%
%
H8[WDG%8%O3D%:;%Q7DD?DD:7;%7E%3%L:CC%7E%?Z6>3;<?%?;978D?9%
=7%>:I%78%>:D%789?8S%";%Q3PI?;=%7E%I?86>3;9:D?R%8%:;978D?9%=>?%
Kd0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1U
L:CC%7E%?Z6>3;<?%=7%Z%O>7%O:CC:;<CP%366?Q=?9%:=S%c>?;%Z%Q8?D?;=?9%
=>?%L:CC%7E%?Z6>3;<?%=7%=>?%L3;^R%=>?%L3;^%8?EHD?9%=7%Q3PR%7;%=>?%
<87H;9%=>3=%=>?%DHQQ7D?9%366?Q=3;6?%2O8:==?;%7;%=>?%L:CC4%LP%=>?%
L3;^%O3D%3%E78<?8PS%Z%9:9%;7=%I3^?%3%Q87=?D=%3;9%:;%=>?%67H8D?%
7E%=:I?R%=>?%L:CC%C7D=%67IQC?=?CP%:=D%F3CH?S%$3=?8%Z%DH?9%8%E78%=>?%
Q8:6?%7E%=>?%I?86>3;9:D?S%R44"$G%!3;%Z%8?67F?8f
%
%
`EOIG%-7R%Z%63;;7=%8?67F?8%E87I%8S%bP%8?3D7;%7E%=>?%;?V
<C?6=%7E%Z=%=>?%68?9:=78R%=>?%F3CH?%7E%=>?%L:CC%>3D%L??;%:IQ3:8?9S%
Z%63;;7=%LC3I?%8R%3;9R%=>?8?E78?R%=>?%9?C:F?8P%7E%=>?%L:CC%LP%8%
=7%Z%7Q?83=?9%3D%67IQC?=?%Q3PI?;=%E78%=>?%I?86>3;9:D?S
XDY& H)$(6#(06&!S0'T$
&
&
,*.$%8&12&H4960*(%#"&N#*T
O/&?PB?E@&V#Q&B>@&CDEB
&
%
5%Q7D=93=?9%6>?6^%:D%;7=%3%6>?6^%3=%3CCR%3;9%3%L3;^%:D%;7=%
3CC7O?9%=7%9?9H6=%E87I%3%9?Q7D:=78_D%6H88?;=%3667H;=%=>?%Q7D=V
93=?9%6>?6^%:DDH?9%LP%=>?%9?Q7D:=78S
&
74(2&C?=>2&3*&'#$0&#*&0`(4#)46%*#4Q&%*"&#(%)*&)4&60"&#(%)*&
)+&(S0&'9440*'Q&$(%89"#(06&$S)9"6&$980410*0@&(S0&1#"90&)+&(S0&
'9440*'Q&#(&(S0&(%50&)+&(S0&0$(#-"%$S50*(&)+&(S0&)-"%.#(%)*&
$S#""&-0&(S0&-#$%$&)+&8#Q50*(@&9*"0$$&(S040&%$&#*&#.40050*(&
()&(S0&')*(4#4Q2
!,VVJKMW
XCY& j3*"&#(%)*d&L0!&*06
%
%
"=%:D%3%D>38Q%DH99?;%:;68?3D?%7E%I7;?P%78%68?9:=%78%L7=>%
O:=>7H=% 3% 6788?DQ7;9:;<% :;68?3D?% :;% LHD:;?DD% =83;D36=:7;S%
7M$64+$#\4%I*&+*'(,#5?S%.:;6?%=>?%F3CH?%7E%I7;?P%>?8?%=?;9D%=7%
9?68?3D?R%=>?%;3=H83C%8?DHC=%:D%3;%*(&#$,4$%*(%+/$%!#*&$%'2%J'')4%
,()%4$#1*&$49
X?Y& jL0"&#(%)*d&L0!&*06
%
%
"=%:D%=>?%7QQ7D:=?%7E%:;"%3=:7;S
Kdd
%
58=S%/J1U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
XBY& K)*;#88"%'#-%"%(Q&)+&(S0&74(%'"0&M)6#Q
&
%
*>?% 58=:6C?% DQ?3^D% 7E% =>?% :;"%3=:7;% 78% 9?"%3=:7;% 7E% `=>?%
6H88?;6P% D=:QHC3=?9Ra% I?3;:;<R% =>?% 6H88?;6P% &*+(@% *+5-%
,>:C:QQ:;?%C?<3C%=?;9?8%3D%3CC7O?9%H;9?8%58=S%/JMdS%bH=%D:;6?%
=793PR%;7%E78?:<;%6H88?;6P%63;%L?%D=:QHC3=?9%H;9?8%@5%1JdR%:=%
E7CC7OD%=>3=%C:=?83CCP%67;D=8H?9R%58=S%/J1U%63;;7=%L?%I39?%HD?%
7E%E78%=>?%Q8?D?;=S%bP%3;3C7<P%78%?Z=?;D:7;R%>7O?F?8R%*+%0,5%6$%
!'44*6-$% =7% :;6CH9?% =>?% ?Z=83789:;38P% :;"%3=:7;% 78% 9?"%3=:7;% 7E%
=>?%K/*-*!!*($%&"##$(&5S%*793PR%>7O?F?8R%:=%:D%97HL=EHC%O>?=>?8%
O>3=%O?%38?%?ZQ?8:?;6:;<%=793P%I3P%3C8?39P%L?%6C3DD?9%:;%=>?%
63=?<78P%7E%`?Z=83789:;38PSa
&
&
&
&
&
J10"Q*&A2&G#*.4#6)4@&A)%*06&-Q&S04&S9$-#*6
/)64%.)&G#*.4#6)4@&A42
12&G8)9$0$&b4#*'%$')&e#"6044#5#
#*6&M040$%(#&V2&e#"6044#5#
O/&PD==?@&K)12&?D@&CDEE
%
%
.:;6?%Q?=:=:7;?8D%E3:C?9%=7%Q87F?%=>?%DHQ?8F?;:;<%7E%?Z=8378V
9:;38P%:;"%3=:7;%L?=O??;%5Q8S%NR%/d0M%3;9%'?6S%]R%/d0M%Y%;7%
Q877ED%O?8?%Q8?D?;=?9%7;%>7O%IH6>R%E78%:;D=3;6?R%=>?%Q8:6?%:;9?Z%
7E%<779D%3;9%D?8F:6?D%>39%8:D?;R%9H8:;<%=>?%:;=?8F?;:;<%Q?8:79%
Y%3;%?Z=83789:;38P%:;"%3=:7;%63;;7=%L?%3DDHI?9e%67;D?XH?;=CPR%
=>?8?%:D%;7%8?3D7;%78%L3D:DR%C?<3C%78%E36=H3CR%E78%39WHD=:;<%=>?%
F3CH?%7E%=>?%,>:C:QQ:;?%Q?D7%:;%=>?%D?==C?I?;=%7E%8?DQ7;9?;=D_%
7LC:<3=:7;S
&
&
&
&
b%"%8%*)&H%80&#*6&b)9*64Q&!)482&12
K#(%)*#"&Z#(04R)4T$&#*6&
G0R04#.0&79(S)4%(Q
O/&FBFF<@&V#Q&B@&CDEE
%
%
(Z=83789:;38P%:;"%3=:7;%?Z:D=D%O>?;%`=>?8?%:D%3%9?68?3D?%
78%:;68?3D?%:;%=>?%QH86>3D:;<%Q7O?8%7E%=>?%,>:C:QQ:;?%6H88?;6P%
O>:6>% :D% H;HDH3C% 78% L?P7;9% =>?% 67II7;% "%H6=H3=:7;% :;% =>?%
F3CH?%7E%D3:9%6H88?;6PR%3;9%DH6>%9?68?3D?%78%:;68?3D?%67HC9%;7=%
>3F?% L??;% 8?3D7;3LCP% E78?D??;% 78% O3D% I3;:E?D=CP% L?P7;9% =>?%
67;=?IQC3=:7;%7E%=>?%Q38=:?D%3=%=>?%=:I?%7E%=>?%?D=3LC:D>I?;=%7E%
=>?%7LC:<3=:7;S__
MUU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1U
%
%
5;% ?Z3IQC?% 7E% ?Z=83789:;38P% :;"%3=:7;% :D% =>?% E7CC7O:;<%
9?D68:Q=:7;% 7E% O>3=% >3QQ?;?9% =7% =>?% 9?H=D6>?I38^% :;% /dJUG%
`A78?% 8?6?;=CPR% :;% =>?% /dJU_D% h?8I3;P% ?ZQ?8:?;6?9% 3% 63D?% 7E%
>PQ?8:;"%3=:7;S%";%?38CP%/dJ/R%=>?%F3CH?%7E%=>?%h?8I3;%I38^%O3D%
MSJ%=7%=>?%iS.S%97CC38S%bP%A3P%7E%=>?%D3I?%P?38%:=%>39%D=HILC?9%
=7%NJ%=7%=>?%iS.S%97CC38S%5;9%3D%=>?%Q8:6?D%O?;=%HQ%83Q:9CPR%D7%
=>3=%LP%&6=S%/dJKR%:=%>39%8?36>?9%MSJ%=8:CC:7;%=7%=>?%iS.S%97CC38ua%
5D%8?Q78=?9R%`Q8:6?D%O?8?%<7:;<%HQ%?F?8P%O??^R%=>?;%?F?8P%93PR%
=>?;%?F?8P%>7H8S%c7I?;%O?8?%Q3:9%D?F?83C%=:I?D%3%93P%D7%=>3=%
=>?P%67HC9%8HD>%7H=%3;9%?Z6>3;<?%=>?:8%I7;?P%E78%D7I?=>:;<%
7E%F3CH?%L?E78?%O>3=%C:==C?%QH86>3D:;<%Q7O?8%O3D%C?=%9:DD7CF?9%
:;%=>?:8%>3;9DS%.7I?%O78^?8D%=8:?9%=7%L?3=%=>?%67;D=3;=CP%8:DV
:;<%Q8:6?D%LP%=>87O:;<%=>?:8%I7;?P%7H=%7E%=>?%O:;97OD%=7%=>?:8%
O3:=:;<%O:F?DR%O>7%O7HC9%8HD>%=7%H;C739%=>?%;?38CP%O78=>C?DD%
Q3Q?8S%5%Q7D=3<?%D=3IQ%67D=%I:CC:7;D%7E%I38^D%3;9%3%C73E%7E%L8?39%
L:CC:7;DSa
%
%
c>:C?%=>?8?%>3D%L??;%3%9?6C:;?%:;%=>?%QH86>3D:;<%Q7O?8%7E%
=>?%,>:C:QQ:;?%Q?D7R%=>:D%97O;O389%E3CC%7E%=>?%6H88?;6P%63;;7=%
L?% 67;D:9?8?9% `?Z=83789:;38PS__% "=% :D% D:IQCP% 3% H;:F?8D3C% =8?;9%
=>3=%>3D%;7=%DQ38?9%7H8%67H;=8PS
XFY& N#$%$&+)4&H#Q50*(
&
%
i;9?8%=>:D%58=:6C?R%=>?%L3D:D%E78%Q3PI?;=%:D%=>?%F3CH?%2=>?%
8?3C%F3CH?%78%O78=>4%3=%=>?%=:I?%=>?%7LC:<3=:7;%O3D%67;D=:=H=?9%
78%:;6H88?9R%H;C?DD%=>?8?%:D%3;%3<8??I?;=%=7%=>?%67;=838PS
&
&
H#*&7504%'#*&12&H77&J58")Q00$
:;CEBF=@&A#*2&B>@&CD<F
&
%
*>?%QH86>3D:;<%Q7O?8%78%F3CH?%7E%I7;?P%78%6H88?;6P%97?D%
;7=%C3OEHCCP%9?Q?;9%HQ7;R%63;;7=%C3OEHCCP%67I?%:;=7%L?:;<R%L?%
68?3=?9R% 78% L87H<>=% 3L7H=% LPR% 3% C3O% ?;36=?9% LP% !7;<8?DDS% "E%
LP%-,.%78%+#$,+5%=>?%83=?%7E%?Z6>3;<?%L?=O??;%=O7%6H88?;6:?D%
D>7HC9%L?%!%Z?9%78%D=:QHC3=?9R%DH6>%C3O%78%=8?3=P%67HC9%;7=%<:F?%
=>?%I7;?P%78%6H88?;6P%=>?%QH86>3D:;<%Q7O?8%78%F3CH?%!%Z?9%78%
D=:QHC3=?9R%LH=%O7HC9%L:;9%=>?%h7F?8;I?;=%?;36=:;<%=>?%C3O%78%
=>?%67;=836=:;<%Q38=:?D%=7%3%=8?3=P%=7%Q3P%78%DHQQCP%=>?%)*22$#$(&$%
L?=O??;%=>?%F3CH?%!%Z?9%78%D=:QHC3=?9%3;9%=>?%8?3C%F3CH?%7E%=>?%
6H88?;6P%D>7HC9%=>?%C3==?8%L?%C7O?8%=>3;%=>?%!%Z?9%78%D=:QHC3=?9%
83=?%7E%?Z6>3;<?%L?=O??;%=>?%=O7%6H88?;6:?DS
MU/
%
58=S%/J1U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
&
!)55%$$%)*04&)+&H9-"%'&\%.SR#Q$&12&
\)*2&N94.)$@&0(&#"2
:;B<P><@&V#42&BC@&CDE>
%
%
58=S%/J1U%3QQC:?D%7;CP%=7%63D?D%O>?8?%3%67;=836=%78%3<8??V
I?;=%:D%:;F7CF?9S%"=%97?D%;7=%3QQCP%O>?8?%=>?%7LC:<3=:7;%=7%Q3P%
38:D?D%E87I%C3OR%:;9?Q?;9?;=%7E%67;=836=DS%*>?%=3^:;<%7E%Q8:F3=?%
Q87Q?8=P%LP%=>?%h7F?8;I?;=%:;%=>?%?Z?86:D?%7E%:=D%Q7O?8%7E%?I:V
;?;=%97I3:;%97?D%;7=%<:F?%8:D?%=7%3%67;=836=H3C%7LC:<3=:7;S%i;9?8%
=>?%C3OR%:;%=>?%3LD?;6?%7E%3;P%3<8??I?;=%=7%=>?%67;=838PR%?F?;%
3DDHI:;<%=>3=%=>?8?%>3D%L??;%3;%?Z=83789:;38P%:;"%3=:7;%O:=>:;%
=>?%I?3;:;<%7E%58=S%/J1UR%=>?%F3CH?%7E%=>?%Q?D7%3=%=>?%=:I?%7E%
=>?%?D=3LC:D>I?;=%7E%=>?%7LC:<3=:7;R%O>:6>%:;%=>?%:;D=3;=%63D?%
:D%O>?;%=>?%Q87Q?8=P%O3D%=3^?;%Q7DD?DD:7;%7E%LP%=>?%h7F?8;V
I?;=R%IHD=%L?%67;D:9?8?9%E78%=>?%QH8Q7D?%7E%9?=?8I:;:;<%WHD=%
67IQ?;D3=:7;S
%
%
&LF:7HDCPR%=>?8?%63;%L?%;7%3<8??I?;=%=7%=>?%67;=838P%=7%
DQ?3^%7E%L?63HD?%=>?%7LC:<3=:7;%7E%=>?%h7F?8;I?;=%D7H<>=%=7%L?%
?;E786?9%:;%=>?%Q8?D?;=%36=:7;%97?D%;7=%78:<:;3=?%E87I%3%67;=836=R%
LH=%E87I%C3O%O>:6>R%<?;?83CCPR%:D%;7=%DHLW?6=%=7%=>?%O:CC%7E%=>?%
Q38=:?DS%5;9%=>?8?%L?:;<%;7%7=>?8%C?<3C%Q87F:D:7;%6:=?9%O>:6>%
O7HC9%WHD=:EP%3%9?Q38=H8?%E87I%=>?%8HC?%=>3=%WHD=%67IQ?;D3=:7;%
:D%9?=?8I:;?9%7;%=>?%L3D:D%7E%=>?%F3CH?%7E%=>?%Q87Q?8=P%3=%=>?%
=:I?%7E%=>?%=3^:;<%=>?8?7E%:;%?ZQ87Q8:3=:7;%LP%=>?%h7F?8;I?;=R%
=>?% F3CH?% 7E% =>?% Q87Q?8=P% 3D% :=% :D% O>?;% =>?% h7F?8;I?;=% =77^%
Q7DD?DD:7;%7E%=>?%C3;9%:;%XH?D=:7;R%;7=%=>?%:;68?3D?9%F3CH?%8?DHC=V
:;<%E87I%=>?%Q3DD3<?%7E%=:I?%O>:6>%:;F38:3LCP%L8:;<D%H;?38;?9%
:;68?I?;=%=7%C3;9?9%Q87Q?8=:?DR%8?Q8?D?;=D%=>?%=8H?%F3CH?%=7%L?%
Q3:9%3D%WHD=%67IQ?;D3=:7;%E78%=>?%Q87Q?8=P%=3^?;S
%
%
A78?7F?8R%=>?%C3O%6C?38CP%Q87F:9?D%=>3=%=>?%F3CH?%7E%=>?%
6H88?;6P% 3=% =>?% =:I?% 7E% =>?% ?D=3LC:D>I?;=% 7E% =>?% 7LC:<3=:7;%
D>3CC%L?%=>?%L3D:D%7E%Q3PI?;=%O>:6>R%:;%63D?D%7E%?ZQ87Q8:3=:7;R%
O7HC9%L?%=>?%F3CH?%7E%=>?%Q?D7%3=%=>?%=:I?%7E%=>?%=3^:;<%7E%=>?%
Q87Q?8=P%O>?;%=>?%7LC:<3=:7;%7E%=>?%h7F?8;I?;=%=7%Q3P%38:D?DS%
"=%:D%7;CP%O>?;%=>?8?%:D%3;%3<8??I?;=%=7%=>?%67;=838P%=>3=%=>?%
?Z=83789:;38P%:;"%3=:7;%O:CC%I3^?%=>?%F3CH?%7E%=>?%6H88?;6P%3=%
=>?%=:I?%7E%Q3PI?;=R%;7=%3=%=>?%=:I?%7E%=>?%?D=3LC:D>I?;=%7E%=>?%
7LC:<3=:7;R%=>?%L3D:D%E78%Q3PI?;=S
%
%
";%7=>?8%O789DR%3;%3<8??I?;=%:D%;??9?9%E78%=>?%?EE?6=D%7E%
3;%?Z=83789:;38P%:;"%3=:7;%=7%L?%=3^?;%:;=7%3667H;=%=7%3C=?8%=>?%
MUJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1/
F3CH?%7E%=>?%6H88?;6P%3=%=>?%=:I?%7E%=>?%?D=3LC:D>I?;=%7E%=>?%
7LC:<3=:7;%O>:6>R%3D%3%8HC?R%:D%3CO3PD%=>?%9?=?8I:;3=:F?%?C?I?;=R%
=7%L?%F38:?9%LP%3<8??I?;=%=>3=%O7HC9%!%;9%8?3D7;%7;CP%:;%=>?%
DHQ?8F:D:7;%7E%?Z=83789:;38P%:;"%3=:7;%78%9?"%3=:7;S
%
%
56=:;<%!>:?E%gHD=:6?%!C3H9:7%*??>3;^??%267;6H88:;<4G%*>?%
3QQC:63L:C:=P%78%;7;V3QQC:63L:C:=P%7E%58=S%/J1U%D>7HC9%L?%=3^?;%
3D% '6*+$#% )*&+,R% D:;6?% D3:9% 38=:6C?% I3P% ;7=% L?% :;F7^?9% ;78% 3QV
QC:?9R%O:=>7H=%3%Q87Q?8%9?6C383=:7;%7E%?Z=83789:;38P%:;"%3=:7;%78%
9?"%3=:7;%7E%6H88?;6P%LP%=>?%67IQ?=?;=%3H=>78:=:?DS%*>?%!7H8=%
>3DR%=>HDR%D?=%3D:9?%8?DQ7;9?;=%WH9<?_D%83:D:;<%7E%=>?%3I7H;=%7E%
67IQ?;D3=:7;%E78%=>?%C3;9%E87I%,/MRN/1S]d%23=%,JSK]%Q?8%DXH38?%
I?=?84%3D%Q87Q?8CP%9?=?8I:;?9%=7%L?%:=D%F3CH?%3=%=>?%=:I?%7E%:=D%
=3^:;<%:;%/dJM%=7%,MdRM1dSKM%QH8Q78=?9CP%L?63HD?%7E%=>?%9?"%3=?9%
F3CH?%7E%=>?%Q?D7%:;%8?C3=:7;%=7%=>?%97CC38S
&
74(2&C?=C2&H#Q50*(&$S#""&-0&5#60&%*&(S0&8"#'0&60$%.*#(06&
%*&(S0&)-"%.#(%)*2
&
MS040&-0%*.&*)&0`840$$&$(%89"#(%)*&#*6&%+&(S0&9*604(#T%*.&
%$&()&60"%104&#&60(045%*#(0&(S%*.@&(S0&8#Q50*(&$S#""&-0&5#60&
RS040104& (S0& (S%*.& 5%.S(& -0& #(& (S0& 5)50*(& (S0& )-"%.#(%)*&
R#$&')*$(%(9(062
&
3*&#*Q&)(S04&'#$0&(S0&8"#'0&)+&8#Q50*(&$S#""&-0&(S0&6)5%;
'%"0&)+&(S0&60-()42
&
3+&(S0&60-()4&'S#*.0$&S%$&6)5%'%"0&%*&-#6&+#%(S&)4&#+(04&S0&
S#$&%*'94406&%*&60"#Q@&(S0&#66%(%)*#"&0`80*$0$&$S#""&-0&-)4*0&
-Q&S%52
&
MS0$0&84)1%$%)*$&#40&R%(S)9(&840U96%'0&()&10*90&9*604&
(S0&/9"0$&)+&!)94(2&
!,VVJKMW
XCY& ZS040&H#Q50*(&V9$(&N0&V#60
234% "E%=>?8?%:D%3%D=:QHC3=:7;%Y%:;%=>?%QC36?%'(."h-5*('
2L4% "E%=>?8?%:D%('%D=:QHC3=:7;
/4%
"E%:=%:D%3;%7LC:<3=:7;%=7%9?C:F?8%3%)$+$#0*(,+$%4!$&*!%&%
=>:;<R% =>?;% :;% =>?% QC36?% O>?8?% =>?% =>:;<% I:<>=% L?%
7"4",--5% '#% /,6*+",--5?% 3=% =>?% =:I?% =>?% 7LC:<3=:7;%
MUK
%
58=S%/J1/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
O3D% !&-.*"*i*('S% 2"E% I?8?CP%+$0!'#,#*-5% =>?8?R%
3D%O>?;%=>?%7LW?6=%:D%L?:;<%4/*!!$)%78%:D%3C8?39P%:;%
=>?%76?3;R%Q3PI?;=%D>7HC9%L?%3=%=>?%)'0*&*-$%7E%=>?%
9?L=78S4
J4&
"E%=>?%7LC:<3=:7;%:D%3;P%7=>?8%=>:;<%23D%O>?;%:=%:D%=7%
9?C:F?8%3%J$($#*&%+/*(J=%78%=7%<:F?%I7;?PR%78%3%!$#4'(,-%
7LC:<3=:7;4R%9?C:F?8P%IHD=%L?%I39?%3=%=>?%)'0*&*-$%7E%
=>?%9?L=78S
X?Y& J`#58"0$
&
%
&89:;38:CPR%3%=?;3;=%7E%3%>7HD?%>3D%=>?%8:<>=%=7%O3:=%E78%=>?%
C3;9C789%:;%=>?%>7HD?%D:;6?%=>:D%:D%3;%7LC:<3=:7;%=7%Q3P%I7;?P%23%
<?;?8:6%=>:;<4S%7T,(,-,&%19%N,#&*,=%C;%K/*-9%Q:;h%N'0$k%19%VJ%
H,+=%C;%K/*-9%BBB?9%.:I:C38CPR%3%WH9<I?;=%9?L=78%>3D%=7%Q3P%7;CP%3=%
>:D%97I:6:C?R%:;%=>?%3LD?;6?%7E%3%DQ?6:!%63=:7;%:;%=>?%67H8=%9?68??S%
7E,4+6',#)%V,1*J,+*'(%19%f40,$-=%OA>U>U=%D$!+9%:U=%:>BC?9%,3PV
I?;=%;7=%3=%=>?%9?D:<;3=?9%QC36?%LH=%7;CP%=7%=>?%I?8?%9?Q7D:=78P%
7E%=>?%68?9:=78_D%EH;9D%:D%;7=%67;D:9?8?9%3D%F3C:9S%.7%:E%"C7:C7%O3D%
9?D:<;3=?9R%LH=%=?;9?8%:D%I39?%:;%A3;:C3R%=>?%Q3PI?;=%:D%;7=%
<?;?83CCP%=7%L?%I39?%3=%=>?%C3==?8%QC36?S%7N'(k,J,%n%`$#(,()$k%
19%X$/,6*-*+,+*'(%H*(,(&$%['#!9=%OA<>@C=%H$69%:U=%:>BC?9
XBY& 3""9$(4#(%10&!#$0$
&
&
V#*#"#'&12&O#4'%#
P<&HS%"2&?C<
&
%
H8[WDG% 8% 8?;=?9% 3% >7HD?% E87I% Z9% 5C=>7H<>% =>?8?% O3D%
;7%;??9%=7%97%D7R%:=%O3D%?ZQ8?DDCP%3<8??9%=>3=%Q3PI?;=%7E%=>?%
8?;=3C%D>7HC9%L?%I39?%3=%=>?%97I:6:C?%7E%=>?%C?DD??%8S%c>?;%=>?%
=:I?%E78%Q3PI?;=%63I?R%8%O3:=?9%3=%=>?%>7HD?%E78%3%8?6?:Q=%=7%L?%
Q8?D?;=?9%=7%>:IS%bH=%Z%9?C3P?9%D?F?83C%I7;=>DR%7;%=>?%<87H;9%
=>3=%8%D>7HC9%>3F?%<7;?%=7%Z%23;9%;7=%Z%=7%3%84S%R44"$G%"D%8%:;%
9?E3HC=f
%
%
`EOIG%-7R%8%:D%;7=%:;%9?E3HC=S%+?%O3D%WHD=:!%?9%:;%O3:=:;<%
E78%=>?%8?6?:Q=%3=%=>?%>7HD?%>?%O3D%8?;=:;<S%D,*)%+/$%D"!#$0$%
['"#+G% `*>?% Q3PI?;=% 7E% =>?% 8?;=3C% >3F:;<% L??;% 3<8??9% =7% L?%
I39?%3=%=>?%97I:6:C?%7E%=>?%9?L=78R%>?%>39%3%8:<>=%=7%O3:=%=>3=%
MUM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1/
=>?%8?6?:Q=%L?%Q8?D?;=?9%=7%>:I%3;9%>?%97?D%;7=%:;6H8%9?E3HC=%
E78% =>?% =:I?% =>?% 68?9:=78% 3CC7OD% =7% Q3DD% O:=>7H=% 8?3C:T:;<% =>?%
67CC?6=:7;Sa%7W#,(4-,+*'(?
&
&
O)50a&12&K.&b#(
P=&HS%"2&===
!
%
H8[WDG%5%=?;3;=%O3D%L?:;<%7HD=?9%LP%>:D%C3;9C789%7;%=>?%
<87H;9%7E%;7;VQ3PI?;=%7E%8?;=3CDS%*>?%=?;3;=_D%9?E?;D?%O3D%=>3=%
=>?%67CC?6=78R%O>7%HDH3CCP%67CC?6=?9%=>?%8?;=3CDR%9:9%;7=%3QQ?38%
3;9%3C=>7H<>%>?%O3D%O:CC:;<%=7%Q3PR%D=:CC%>?%O3D%O3:=:;<%E78%D3:9%
67CC?6=78S%R44"$G%c3D%=>?%=?;3;=%WHD=:!%?9f
%
%
`EOIG%B?DR%=>?%=?;3;=%O3D%WHD=:!%?9S%`"=%I3P%3CD7%L?%8?V
I38^?9% =>3=% =>?% 3QQ?CC3;=_D% 2=?;3;=_D4% 3CC?<?9% 9?E3HC=% 63;;7=%
<:F?%O3P%=7%=>?:8%?W?6=I?;=R%D:;6?%:=%:D%3==8:LH=3LC?%:;%Q38=%=7%
QC3:;=:EE_D%27O;?8_D4%7I:DD:7;%78%;?<C?6=%=7%67CC?6=Sa
&
&
J#$(-)#46&K#1%.#(%)*@&:(62&12&g$5#0"&#*6&!)2
:;D>D>@&G08(2&C>@&CD=P
%
%
"E%=>?%67H8=_D%WH9<I?;=%67;!%8I:;<%=>?%3O389%7E%3%L7389%
7E%38L:=83=78D%97?D%;7=%DQ?6:EP%=>?%QC36?%O>?8?%=>?%7LC:<3=:7;%
D>7HC9%L?%Q3:9R%=>?%WH9<I?;=%9?L=78%I3P%Q3P%:=%:;%>:D%97I:6:C?%
2A3;:C34S%+?%63;;7=%L?%8?XH:8?9%=7%Q3P%>:D%68?9:=78%:;%-?O%B78^%
WHD=%L?63HD?%=>?%C3==?8%>3QQ?;D%=7%L?%=>?8?S
&
&
&
O)*a#.#&#*6&\04*#*60a&12&
/0S#-%"%(#(%)*&b%*#*'0&!)482
:;EDFP@&b0-2&?>@&CD=P
&
%
H8[WDG%5%I388:?9%67HQC?%7L=3:;?9%3%C73;%E87I%=>?%5<8:6HCV
=H83C%3;9%!8?9:=%b3;^%7E%,K]RUUU%O:=>%=>?:8%C3;9%<:F?;%LP%O3P%
7E%I78=<3<?S%*>?%C73;%O3D%67;=836=?9%Q8:78%=7%=>?%O38S%"=%O3D%
3<8??9%=>3=%Q3PI?;=%O3D%=7%L?%I39?%:;%T,(*-,S%'H8:;<%=>?%O38R%
=>?%9?L=78D%Q3:9%('+%:;%T,(*-,%LH=%:;%"C7:C7R%3;9%=>?%8?6:Q:?;=%
7E%=>?%I7;?P%O3D%;7=%=>?%"C7:C7%L83;6>%7E%=>?%5<8:6HC=H83C%3;9%
!8?9:=%b3;^%2E78%:=%O3D%=>?;%6C7D?94%LH=%=>?%"C7:C7%L83;6>%7E%=>?%
K/*-*!!*($%V,+*'(,-%Z,(L=%O>:6>%O3D%=>?%9?Q7D:=78P%:;%"C7:C7%7E%
=>?%EH;9D%L?C7;<:;<%=7%=>?%5<8:6HC=H83C%3;9%!8?9:=%b3;^S%5E=?8%
C:L?83=:7;R%=>?%I388:?9%67HQC?%O?;=%=7%A3;:C3R%3;9%3D^?9%E78%=>?%
63;6?CC3=:7;%7E%=>?%I78=<3<?%7;%=>?%<87H;9%=>3=%=>?%:;9?L=?9;?DD%
MU1
%
58=S%/J1J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
7E%,K]RUUU%>39%3C8?39P%L??;%Q3:9S%*>?%68?9:=78%8?EHD?9S%";D=?39%
7E%<7:;<%=7%67H8=R%=>?%I388:?9%67HQC?%3<3:;%L7887O?9%E87I%=>?%
68?9:=78% =>?% `,))*+*'(,-% 3I7H;=% 7E% ,/URUUUa% 3;9% 3D% D?6H8:=PR%
=>?P%7EE?8?9%3%i4$&'()%0'#+J,J$j%7;%=>?%D3I?%C3;9%=>3=%>39%L??;%
<:F?;%3D%D?6H8:=P%L?E78?S%*>8??%P?38D%C3=?8R%=>?%I388:?9%67HQC?%
!%C?9%:;%67H8=%3;%36=:7;%=7%63;6?C%=>?%I78=<3<?%7;%=>?%,K]RUUU%
Q8?O38%C73;%7;%=>?%<87H;9%7E%Q3PI?;=S%R44"$G%c3D%=>?%Q3PI?;=%
F3C:9f
%
%
%
`EOIG%*>?%Q3PI?;=%O3D%#&"'%L?63HD?G
/4%
,3PI?;=%O3D%;7=%I39?%=7%=>?%68?9:=78%78%=7%>:D%9HCP%3H=>78V
:T?9%3<?;=S%2"E%=>?%"C7:C7%,-b%L83;6>%36=?9%3D%3<?;=R%:=%O3D%
3;%3<?;=%E78%=>?%9?L=78DR%;7=%E78%=>?%68?9:=78R%E78%O>7I%:=%
O3D%I?8?CP%3%9?Q7D:=78P%7E%EH;9DS4
J4%
,3PI?;=%O3D%I39?%:;%"C7:C7R%;7=%:;%A3;:C3R%O>:6>%O3D%=>?%
9?D:<;3=?9%QC36?S
K4%
*>?%9?L=78D%38?%:;%?D=7QQ?C%2E78%:;D=?39%7E%L8:;<:;<%3%67H8=%
36=:7;%8:<>=%3O3PR%3E=?8%=>?%68?9:=78_D%!%8D=%8?EHD3CR%=>?P%:;V
D=?39%L7887O?9%3<3:;%`3;%399:=:7;3C%DHI%7E%,/URUUURa%3;9%
?Z?6H=?9%3%`D?67;9%I78=<3<?%7;%=>?%D3I?%C3;9Ra%:IQCP:;<%
=>3=%=>?P%O?8?%O:CC:;<%=7%39I:=%=>?%&'(+*("$)%$F*4+$(&$%7E%
=>?%!%8D=%:;9?L=?9;?DD%7E%,K]RUUUS
%
*>?%Q3PI?;=%L?:;<%F7:9R%:=%E7CC7OD%=>3=%=>?%I78=<3<?%8?V
I3:;D%F3C:9%3;9%D>7HC9%;7=%L?%63;6?CC?9S
G9-$0'(%)*&C
7HH:3!7M3,K&,b&H7gVJKMG
&
74(2&C?=?2&\0&RS)&S#$&1#4%)9$&60-($&)+&(S0&$#50&T%*6&%*&
+#1)4&)+&)*0&#*6&(S0&$#50&'406%()4@&5#Q&60'"#40&#(&(S0&(%50&
)+&5#T%*.&(S0&8#Q50*(@&()&RS%'S&)+&(S05&(S0&$#50&59$(&-0&
#88"%062&I*"0$$&(S0&8#4(%0$&$)&$(%89"#(0@&)4&RS0*&(S0&#88"%'#;
(%)*&)+&8#Q50*(&%$&5#60&-Q&(S0&8#4(Q&+)4&RS)$0&-0*0!&(&(S0&
(045&S#$&-00*&')*$(%(9(06@&#88"%'#(%)*&$S#""&*)(&-0&5#60&#$&
()&60-($&RS%'S&#40&*)(&Q0(&6902
&
3+&(S0&60-()4&#''08($&+4)5&(S0&'406%()4&#&40'0%8(&%*&RS%'S&
#*& #88"%'#(%)*& )+& (S0& 8#Q50*(& %$& 5#60@& (S0& +)4504& '#**)(&
')58"#%*&)+&(S0&$#50@&9*"0$$&(S040&%$&#&'#9$0&+)4&%*1#"%6#(%*.&
(S0&')*(4#'(2
MUN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1J
!,VVJKMW
XCY& G80'%#"&b)45$&)+&H#Q50*(
%
%
*>?8?%38?%E7H8%DQ?6:3C%E78ID%7E%Q3PI?;=G
234% 3QQC:63=:7;%278%`:IQH=3=:7;a4%7E%Q3PI?;=D%78#+9%:QBQ=%[*1*-%
[')$?h
2L4% ),+*'(% :;% Q3PI?;=% 7i,)3")*&,&*'(% $(% !,J'j% 78% i),+*'% *(%
4'-"+"0j?%78#+9%:Q@B=%[*1*-%[')$?h
264%
3DD:<;I?;=%:;%E3F78%7E%68?9:=78D%7i&$44*'(j?%78#+9%:QBB=%[*1*-%
[')$?h
294% =?;9?8%7E%Q3PI?;=%3;9%67;D:<;3=:7;%78#+49%:QB;A:Q;:=%[*1*-%
[')$?9
X?Y& j788"%'#(%)*&)+&H#Q50*($d&L0!&*06
&
&
`"=%:D%=>?%9?D:<;3=:7;%7E%=>?%9?L=%=7%O>:6>%D>7HC9%L?%3QQC:?9%
3%Q3PI?;=%I39?%LP%3%9?L=78%O>7%7O?D%D?F?83C%9?L=D%:;%E3F78%7E%
=>?%D3I?%68?9:=78Sa%7[,4+,(?9%.=3=?9%9:EE?8?;=CPR%:=%:D%=>?%Q>83D?%
3QQC:?9%=7%D>7O%O>:6>%9?L=R%7H=%7E%=O7%78%I78?%9?L=D%7O:;<%=>?%
D3I?%68?9:=78R%:D%L?:;<%Q3:9S
XBY& 358)4(#*'0
&
%
"=%:D%:IQ78=3;=%=7%^;7O%8HC?D%7;%3QQC:63=:7;%7E%Q3PI?;=D%
L?63HD?%7=>?8O:D?R%O?%I3P%;7=%^;7O%O>:6>%7;?R%7E%=O7%78%I78?%
9?L=DR%>3D%L??;%?Z=:;<H:D>?9S
%
%
8%7O?D%Z%,/%I:CC:7;%Q3P3LC?%5Q8S%/S%8%3CD7%7O?D%Z%,/%I:CV
C:7;%Q3P3LC?%5Q8S%1S%&;%5Q8S%/UR%8%Q3PD%Z%,/%I:CC:7;S%+?8?R%O?%
O:CC%;7=%^;7O%O>:6>%9?L=%>3D%L??;%?Z=:;<H:D>?9%H;C?DD%O?%^;7O%
=>?%8HC?D%7;%=>?%3QQC:63=:7;%7E%Q3PI?;=DS
XFY& /0_9%$%(0$&+)4&788"%'#(%)*&)+&H#Q50*(&()&N0&V#60&I$0&
)+
234% =>?8?%IHD=%L?%=O7%78%I78?%9?L=D%2D?F?83C=P%7E%9?L=4e
2L4% =>?%9?L=D%IHD=%L?%7E%=>?%D3I?%^:;9e
264%
=>?%9?L=D%38?%7O?9%LP%=>?%4,0$%)$6+'#%:;%E3F78%7E%=>?%4,0$%
&#$)*+'#%2=>HDR%=>?8?%IHD=%L?%7;CP%7;?%9?L=78%3;9%7;CP%7;?%
68?9:=784e
MU]
%
58=S%/J1J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
294% 3CC%=>?%9?L=D%IHD=%L?%9H?%2=>:D%:;6CH9?D%3%63D?%O>?;%=>?%
L?;?!%=% 7E% =>?% =?8ID% :D% <:F?;% =7% =>?% Q?8D7;% I3^:;<% =>?%
3QQC:63=:7;4R%H;C?DD%7E%67H8D?%=>?%67;=838P%>3D%L??;%D=:QHV
C3=?94e
2?4% =>?%Q3PI?;=%:D%;7=%?;7H<>%=7%?Z=:;<H:D>%3CC%=>?%9?L=DS
X=Y& /9"0&ZS0*&L0-($&740&K)(&g0(&L90
&
%
'?DQ:=?% =>?% E36=% =>3=% ;7=% 3CC% =>?% 9?L=D% 38?% P?=% 9H?R% I3P%
=>?8?%L?%3QQC:63=:7;%7E%Q3PI?;=D%H;9?8%=>:D%58=:6C?f
%
%
8VD9G%B?DR%LH=%7;CPG
234% :E%=>?%Q38=:?D%D7%D=:QHC3=?R%'#
2L4% O>?;%=>?%3QQC:63=:7;%7E%Q3PI?;=%:D%I39?%LP%=>?%Q38=P%E78%
O>7D?%L?;?!%=%=>?%=?8I%>3D%L??;%67;D=:=H=?9S
X<Y& H40+040*(%#"&/%.S(&)+&L0-()4
%
%
"=%:D%=>?%9?L=78%O>7%:D%<:F?;%LP%=>?%C3O%=>?%8:<>=%=7%D?C?6=%
O>:6>%7E%>:D%9?L=D%>?%:D%Q3P:;<S%*>:D%8:<>=%:D%;7=%,64'-"+$=%>7OV
?F?8S%)78%?Z3IQC?G
234% "E% =>?8?% O3D% 3% F3C:9% Q8:78% LH=% 67;=838P% 3<8??I?;=R% =>?%
9?L=78%63;;7=%6>77D?e
2L4% *>?%9?L=78%63;;7=%6>77D?%=7%Q3P%Q38=%7E%=>?%Q8:;6:Q3C%3>?39%
7E%=>?%:;=?8?D=%78#+9%:QBP=%[*1*-%[')$%,()%D"(*&'%19%X,0*#$k=%
:@%K/*-9%BUU?=%H;C?DD%=>?%68?9:=78%67;D?;=DS
%
%
"E% =>?% 9?L=78% I3^?D% 3% !#'!$#% 3QQC:63=:7;% 3;9% =>?%
68?9:=78%#$2"4$4R%=>?%68?9:=78%O:CC%L?%:;%0'#,%,&&*!*$()*S
XPY& \)R&788"%'#(%)*&)+&H#Q50*(&3$&V#60
234% *>?%9?L=78%I3^?D%=>?%9?D:<;3=:7;S%78#+9%:QBQ=%!,#9%:=%[*1*-%
[')$?h
2L4% "E%;7=R%=>?%68?9:=78%I3^?D%:=R%LP%D7%D=3=:;<%:;%=>?%#$&$*!+%
=>3=%>?%:DDH?DR%`H;C?DD%=>?8?%:D%63HD?%E78%*(1,-*),+*(J%+/$%
&'(+#,&+9j%78#+9%:QB:=%!,#9%Q=%[*1*-%[')$?h
%
%
[VSWEG%*>HDR%:E%=>?%7LC:<3=:7;%:=D?CE%:D%F7:9R%=>?%,!A
!-*&,+*'(%,()%+/$%!,50$(+%38?%3CD7%F7:9S%7D,(&/$k%X'0,(?9%
MU0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1J
"E%=>?%9?L=78_D%67;D?;=%:;%366?Q=:;<%=>?%8?6?:Q=%O3D%1*+*,+$)%
]%3D%LP%E83H9R%?8878R%78%F:7C?;6?%Y%=>?%3QQC:63=:7;%:D%('+%
1,-*)=%*9$9=%:=%:D%F7:93LC?S\
264%
"E%($*+/$#%=>?%9?L=78%;78%=>?%68?9:=78%>3D%I39?%=>?%3QQC:V
63=:7;R%78%:E%=>?%3QQC:63=:7;%:D%('+%F3C:9R%=>?;%3QQC:63=:7;%
:D%I39?%LP%7Q?83=:7;%7E%C3OS%78#+49%:QBP%,()%:QB@=%[*1*-%
[')$?9
XEY& 788"%'#(%)*&V#60&-Q&!406%()4
%
%
"E%=>?%68?9:=78%I3^?D%=>?%3QQC:63=:7;%O:=>7H=%=>?%^;7OC?9<?%
3;9%67;D?;=%7E%=>?%9?L=78R%=>?%3QQC:63=:7;%:D%;7=%F3C:9S%7Z,(L%'2%
+/$%K/*-9%R4-,()4%19%E4!*('4,=%c[8e%@U%S9N9%D"!9%@=%!9%;<=%8"J9%
QP=%:>@:?9
&
&
N#*T&)+&(S0&HS%"2&3$"#*6$&12&J$8%*)$#
X!272Y&F>&,2O2&G982&F@&82&<E@&79.2&?B@&CDFC
%
%
H8[WDG%8%3;9%Z%L7887O?9%,1RUUU%E87I%3%L3;^S%*>?%C:3L:CV
:=P%7E%8%3;9%Z%:;%=>:D%67;=836=%O3D%D7C:938PS%8%<3F?%Z%3%6>?6^%
O78=>%,JRUUUe%Z%Q8?D?;=?9%=>?%6>?6^%=7%=>?%L3;^%3;9%Z%<7=%=>?%
I7;?PS%$3=?8%[=%3%9?L=78%7E%8=%Q3:9%=>?%3667H;=%7E%,1RUUU%=7%=>?%
L3;^S% *>?% L3;^% D3:9% =>3=% :=D% =7=3C% 68?9:=% O3D% ,]RUUU% 2,1RUUU%
E87I%8%3;9%ZR%,JRUUU%E87I%84R%3;9%=>3=%D:;6?%7;CP%,1RUUU%>3D%
L??;%Q3:9R%8%3;9%Z%D=:CC%7O?%,JRUUU%D7C:938:CPS%Z%QC?39?9%3D%>:D%
9?E?;D?R%Q3PI?;=%7E%=>?%78:<:;3C%,1RUUU%3;9%=>3=%=>?8?E78?%>?%
D>7HC9%L?%8?C?3D?9%E87I%3CC%C:3L:C:=PS%'?6:9?%=>?%63D?S
%
%
`EOIG%Z\4%7LC:<3=:7;%>3D%3C8?39P%L??;%?Z=:;<H:D>?9S%*>?%
L3;^%>39%;7%8:<>=%=7%:;6CH9?%=>?%,JRUUU%=7%=>?%D7C:938P%9?L=%7E%
,1RUUUS%.H6>%3QQC:63=:7;%O3D%;7=%I39?%O:=>%=>?%^;7OC?9<?%3;9%
67;D?;=%7E%=>?%9?L=78%ZS%&;CP%8%:D%C:3LC?%=>?8?E78S
XDY& /01)'#(%)*&)+&(S0&788"%'#(%)*
&
%
&;6?% 3;% ,!!-*&,+*'(% '2% !,50$(+4% :D% I39?R% I3P% :=% L?% #$A
1'L$)r
%
%
8VD9G% -7% 7Z,&/#,&/% N,#,J$% n% W,F*&,6% ['9% 19% N'-*(J&'=%
P>% K/*-9% >:Q?=% H;C?DD% L7=>% Q38=:?D% 3<8??S% (F?;% :E% L7=>% Q38=:?D%
3<8??R%>7O?F?8R%D=:CC%=>?%#$1'&,+*'(%78%&/,(J$%:;%=>?%3QQC:63=:7;%
2LP%68?9:=:;<%=>?%Q3PI?;=%=7%3;7=>?8%9?L=4%O:CC%('+%L?%3CC7O?9%
:E%=>:89%Q?8D7;D%O7HC9%L?%Q8?WH9:6?9S
MUd
%
58=S%/J1J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
XC>Y& ZS0*&788"%'#(%)*&V9$(&N0&V#60
&
%
5QQC:63=:7;%IHD=%L?%I39?%3=%=>?%=:I?%O>?;%Q3PI?;=%LP%
=>?% 9?L=78% :D% I39?R% ;7=% 3E=?8O389DS% 7K'.$--% 19% V,+9% Z,(L=% B@%
K/*-9%B@?9
XCCY& J`#58"0$&)+&\)R&#&!406%()4&V#T0$&(S0&788"%'#(%)*
234% c>?;% =>?% 9?L=78% .*+/'"+% Q87=?D=% 366?Q=D% =>?% #$&$*!+% :;%
O>:6>%=>?%68?9:=78%DQ?6:!%?9%?ZQ8?DDCP%3;9%H;I:D=3^3LCP%
=>?%7LC:<3=:7;%=7%O>:6>%DH6>%Q3PI?;=%O3D%=7%L?%3QQC:?9R%
D3:9%9?L=78%8?;7H;6?9%=>?%8:<>=%7E%6>7:6?S%7b,(),#%19%I,(A
("J=%c[8e%@P%S9N9%P:C;h%4$$%O*JJ$++%n%T5$#4%W'6,&&'%['#!9%
19%844(9%R(4"#,(&$=%$+%,-9=%OA:B;@P=%S&+9%P:=%:>;U?9
2L4% c>?;%I7;=>CP%D=3=?I?;=D%O?8?%I39?%LP%=>?%L3;^%DQ?6:EPV
:;<%=>?%3QQC:63=:7;%3;9%=>?%9?L=78%D:<;?9%D3:9%D=3=?I?;=D%
3QQ87F:;<% =>?% D=3=HD% 7E% >?8% 3667H;=% 3D% =>HD% D?;=% =7% >?8%
I7;=>CP%LP%=>?%L3;^S%7N,#&*,%19%E(#*a"$k=%B@%K/*-9%@QP?9
&
&
H)R0""&12&K#(2&N#*T
=F&HS%"2&=F
!
%
H8[WDG%8%7O?9%Z%9?L=D%3C8?39P%9H?S%8%Q3:9%E78%7;?%
9?L=R% O:=>7H=% DQ?6:EP:;<% O>:6>S% 5E=?8% D3:9% Q3PI?;=% >39%
L??;%68?9:=?9R%8%67IQC3:;?9R%D=3=:;<%=>3=%>?%>39%=>?%8:<>=%
=7%6>77D?%O>:6>%9?L=%=7%Q3P%H;9?8%=>?%3QQC:63=:7;%7E%Q3PV
I?;=DS%R44"$G%"D%8%WHD=:!%?9%:;%>:D%67IQC3:;=f
%
%
`EOIG%-7R%8%:D%;7=%WHD=:!%?9%:;%>:D%67IQC3:;=S%"=%:D%
=8H?%=>3=%78:<:;3CCPR%>?%>39%=>?%8:<>=%=7%DQ?6:EP%=>?%9?L=%=7%
O>:6>%>?%O3;=?9%=>?%Q3PI?;=%3QQC:?9R%LH=%D:;6?%>?%9:9%;7=%
97%D7%3=%=>?%=:I?%7E%Q3PI?;=R%:=%:D%3D%:E%>?%>3D%<:F?;%HQ%>:D%
8:<>=S%+?;6?R%=>?%C?<3C%8HC?D%D=3=?9%:;%=>?%!:F:C%!79?%IHD=%
L?%=>?%7;?D%3QQC:?9R%;7=%>:D%3QQC:63=:7;S%`.HE!%6?%:=%=7%D3P%
=>3=%DH6>%3QQC:63=:7;%D>7HC9%>3F?%L??;%I39?%3=%=>?%=:I?%
7E%Q3PI?;=R%3;9%;7=%3E=?8O389DR%O>?;%>:D%3667H;=%O:=>%=>?%
L3;^%>39%3C8?39P%L??;%68?9:=?9Sa
XC?Y& ZS0*&788"%'#(%)*&)+&H#Q50*($&!#**)(&N0&71#%"06&)+
234% ";% =>?% 63D?% 7E% 3% Q38=;?8V68?9:=78% H;9?8% 8#+9% :C>Q% 7E% =>?%
!:F:C%!79?%O>:6>%8?39DG
M/U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%/J1K
%
`"E% 3% Q38=;?8% 3H=>78:T?9% =7% I3;3<?% 67CC?6=D% 3% 9?V
I3;93LC?%DHI%O>:6>%O3D%'.$)%=7%/*0%:;%>:D%7O;%;3I?R%
E87I%3%Q?8D7;%O>7%'.$)%+/$%!,#+($#4/*!%,('+/$#%4"0%,-4'%
)$0,(),6-$R%=>?%DHI%=>HD%67CC?6=?9%D>3CC%L?%3QQC:?9%=7%=>?%
=O7%68?9:=D%:;%Q87Q78=:7;%=7%=>?:8%3I7H;=DR%$1$(%+/'"J/%>?%
I3P%>3F?%<:F?;%3%8?6?:Q=%E78%>:D%7O;%68?9:=%7;CPe%LH=%D>7HC9%
>?%>3F?%<:F?;%:=%E78%=>?%3667H;=%7E%=>?%Q38=;?8D>:Q%68?9:=R%
=>?%3I7H;=%D>3CC%L?%EHCCP%3QQC:?9%=7%=>?%C3==?8S%*>?%Q87F:V
D:7;D%7E%=>:D%58=:6C?%38?%H;9?8D=779%=7%L?%.*+/'"+%!#$3")*&$%
=7%=>?%8:<>=%<83;=?9%=7%=>?%)$6+'#%LP%58=S%/J1JR%6"+%'(-5%:E%
=>?%Q?8D7;3C%68?9:=%7E%=>?%Q38=;?8%D>7HC9%L?%I78?%7;?87HD%
=7%>:ISa
2L4% *>?% 8:<>=% 63;;7=% L?% :;F7^?9% 65% ,% 4"#$+5% 78% ,% 4'-*),#5%
J",#,(+'#9%7D'&'(5Ad,&""0%['#!9%19%T*#,"%'#$4=%;C%K/*-9%
PU@?9%7W/$%!$+*+*'(%2'#%&$#+*'#,#*%/$#$%.,4%)*40*44$)%65%+/$%
D"!#$0$%['"#+%*(%D'&'(5Ad,&""0%['#!9%19%T*#,"%'#$4=%;C%
K/*-9%PU@?9%*>?%8?3D7;%:D%=>3=%>?%>3D%7;CP%7;?%9?L=R%3;9%
?F?;%=>3=%:D%67;=:;<?;=%29?Q?;9?;=4%7;%=>?%Q8:;6:Q3C%9?L=V
78_D%E3:CH8?%=7%Q3PS
&
&
&
/08#4#(%)*$&!)55%$$%)*&12
I*%104$#"&L008;G0#&b%$S%*.&!)482
:;?CD>C@&:;?CDD<@&A9*2&?P@&CDPE
&
%
5%DH8?=P%O>7%<H383;=??D%3%9?L=78_D%9?L=%7E%,1KNRMJ0SMM%E78%
=>?%3I7H;=%7E%,1KRNMKSUU%:D%D=:CC%C:3LC?%E78%,/URUUUS%"=%:D%O87;<%
=7%3QQCP%=>?%,/URUUU%=7%=>?%D?6H8?9%Q78=:7;%7E%=>?%9?L=%Y%3D%:;%
=>?%63D?%7E%3QQC:63=:7;%7E%Q3PI?;=DS%.3:9%8HC?%7;%3QQC:63=:7;%7E%
Q3PI?;=D%:D%=7%L?%HD?9%7;CP%:;%63D?%3%9?L=78%7O?D%9?L=D%:;%E3F78%
7E%D?F?83C%68?9:=78DS
&
74(2&C?=B2&3+&(S0&60-(&84)69'0$&%*(040$(@&8#Q50*(&)+&(S0&
84%*'%8#"& $S#""& *)(& -0& 600506& ()& S#10& -00*& 5#60& 9*(%"& (S0&
%*(040$($&S#10&-00*&')104062&
!,VVJKMW
XCY& 3*(040$(&V9$(&N0&H#%6&b%4$(
&
%
*>?%58=:6C?%:D%'6-*J,+'#5=%=>3=%:DR%=>?%9?L=78%63;;7=%:;D:D=%
=>3=%>:D%Q3PI?;=%L?%68?9:=?9%=7%=>?%Q8:;6:Q3C%:;D=?39%7E%=>?%:;=?8V
M//
%
58=S%/J1M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
?D=S%+7O?F?8R%:E%=>?%68?9:=78%3<8??DR%=>:D%:D%3CC%8:<>=S%7<%T,(#$4,%
P:C?9
&
&
/)$0(0@&0(&#"2&12&H04)-04&L012&!)482
!7;O/&<C>B?;/@&A9"2&BC@&CDEC
&
%
i;9?8%=>?%C3OR%Q3PI?;=%=>3=%:D%I39?%=7%3%68?9:=78%IHD=%L?%
68?9:=?9%=7%:;=?8?D=%2=>3=%:D%3C8?39P%9H?4%3>?39%7E%=>?%Q8:;6:Q3CS%
*>?%:;=?8?D=%63;%8?E?8%;7=%7;CP%=7%:;=?8?D=%7;%3I7H;=D%3C8?39P%
9H?%LH=%3CD7%=7%:;=?8?D=%7;%EH=H8?%:;D=3CCI?;=DR%:E%D3:9%:;D=3CCV
I?;=D%38?%?F?;=H3CCP%;7=%Q3:9%7;%=:I?S
X?Y& J++0'(&%+&H#Q50*(&3$&!406%(06&()&(S0&H4%*'%8#"
%
%
@?9H6=:7;%7E%=>?%Q8:;6:Q3C%O7HC9R%7E%67H8D?R%8?DHC=%:;%=>?%
9?68?3D?%7E%=>?%=7=3C%:;=?8?D=%67CC?6=:LC?S
XBY& ZS#(&3*(040$(&3$&G988)$06&()&N0&H#%6
234% :;=?8?D=%LP%O3P%7E%67IQ?;D3=:7;e%3;9
2L4% :;=?8?D=%LP%O3P%7E%93I3<?D%9H?%=7%9?E3HC=S
%
X$,4'(G%*>?%C3O%I3^?D%;7%9:D=:;6=:7;S
&
74(2&C?=F2&ZS0*&8#Q50*(&'#**)(&-0&#88"%06&%*&#'')46#*'0&
R%(S&(S0&840'06%*.&49"0$@&)4&%+&#88"%'#(%)*&'#**)(&-0&%*+04406&
+4)5&)(S04&'%4'95$(#*'0$@&(S0&60-(&RS%'S&%$&5)$(&)*04)9$&()&
(S0&60-()4@&#5)*.&(S)$0&690@&$S#""&-0&600506&()&S#10&-00*&
$#(%$!&062
&
3+&(S0&60-($&690&#40&)+&(S0&$#50&*#(940&#*6&-9460*@&(S0&
8#Q50*(&$S#""&-0&#88"%06&()&#""&)+&(S05&84)8)4(%)*#(0"Q2
!,VVJKMW
XCY& /9"0$&%*&!#$0&K)&788"%'#(%)*&)+&H#Q50*(&\#$&N00*&e)";
9*(#4%"Q&V#60
234% 5QQCP%:=%=7%=>?%0'4+%'($#'"4%2:;%63D?%=>?%9H?%3;9%9?I3;9V
3LC?%9?L=D%38?%7E%)*22$#$(+%;3=H8?D4S
2L4% "E%=>?%9?L=D%38?%7E%=>?%D3I?%;3=H8?%3;9%LH89?;R%3QQC:63=:7;%
D>3CC%L?%I39?%=7%3CC%!#'!'#+*'(,+$-59
M/J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1M
%
%
[VSWEG%"E%7;?%9?L=%:D%E78%,/%I:CC:7;R%3;9%3;7=>?8%:D%
E78% ,J% I:CC:7;% 3;9% 7;CP% ,/% I:CC:7;% :D% Q3:9R% >7O% O:CC% =>?%
Q3PI?;=%L?%3QQC:?9f\
%
%
8VD9G
/4%
"E% =>?% 9?L=78% I3^?D% =>?% 3QQC:63=:7;R% =>?% Q3PI?;=%
D>7HC9%L?%68?9:=?9%=7%=>?%!%#4+%)$6+S%*>?%9?L=78%63;;7=%
:;D:D=%=>3=%=>?%68?9:=78%366?Q=%:=%E78%=>?%D?67;9%9?L=%
E78%:;D7E38%3D%=>?%D?67;9%9?L=%:D%67;6?8;?9R%:=%:D%7;CP%3%
Q38=:3C%Q3PI?;=S%5;9%H;9?8%=>?%C3OR%3%68?9:=78%63;;7=%
<?;?83CCP% L?% 67IQ?CC?9% =7% 8?6?:F?% Q38=:3C% Q3PI?;=S%
78#+9%:Q@<=%[*1*-%[')$?9
J4%
"E%;7%3QQC:63=:7;%>3D%L??;%I39?R%=>?%C3O%D=?QD%:;R%3;9%
3QQC:63=:7;%O:CC%L?%I39?R%('+%?XH3CCP%LH=%Q87Q78=:7;V
3=?CPS%78#+9%:Q@<=%[*1*-%[')$?9
X?Y& G#58"0$&)+&V)40&N9460*$)50&XV)40&,*04)9$Y&L0-($
234% S-)$#%7;?D%:;%63D?%7E%8H;;:;<%3667H;=DS%7V,+9%Z,(L%19%d$A
#,J"+/=%BU%K/*-9%QBP?9
2L4% ";=?8?D=VL?38:;<%9?L=D%?F?;%:E%=>?%;7;V:;=?8?D=%L?38:;<%9?L=%
:D%7C9?8S%7T$(k*%n%['9%19%g"*(J%[/",(=%;>%K/*-9%@;?9
264%
&E% =O7% :;=?8?D=VL?38:;<% 9?L=DR% =>3=% O>:6>% 6>38<?D% =>?%
>:<>?8% :;=?8?D=% :D% I78?% LH89?;D7I?S% 2*>:D% E7CC7OD% E87I%
=>?%F?8P%;3=H8?%7E%=>:;<DS4
294% '?L=D%D?6H8?9%LP%I78=<3<?%78%LP%QC?9<?S%7T*44*'(%)$%D,(%
d*&$(+$%19%X$5$4=%:>%K/*-9%BQB%,()%D,(k%19%O,1*(%Z#'49=%;%
K/*-9%Q>>?9
2?4% '?L=D%O:=>%3%Q?;3C=P%6C3HD?S
2E4%
59F3;6?D%E78%DHLD:D=?;6?%38?%I78?%7;?87HD%=>3;%63D>%39V
F3;6?DS%7T'(+*('-,%19%N,+*-,=%>C%K/*-9%>>>?9
2<4% 5%9?L=%O>?8?%=>?%9?L=78%:D%:;%0'#,%:D%I78?%7;?87HD%=>3;%
7;?%O>?8?%>?%:D%;7=S
2>4% 5;% $F&-"4*1$% 9?L=% 2;7=% D7C:938P4% :D% I78?% 7;?87HD% =>3;% 3%
D7C:938P%9?L=S%7['00'(.$,-+/%19%H,#%E,4+$#(%D"#$+5=%<P%
K/*-9%PUB?9
M/K
%
58=S%/J1M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
cVSWEG%"E%3%Q8:;6:Q3C%9?L=78%:D%<H383;=??9%LP%3%DH8?=P%
LH=%=>?%<H383;=P%:D%E78%3%40,--$#%3I7H;=R%3;P%!,#+*,-%Q3PV
I?;=%I39?%LP%=>?%9?L=78%D>3CC%L?%3QQC:?9%=7%=>?%!'#+*'(%
O>:6>%:D%-&*%D?6H8?9R%D:;6?%=>:D%?Z6CHD:F?%9?L=%:D%67;D:9V
?8?9%I78?%7;?87HD%=7%>:IS%7`'(JL'(J%n%D/,(J/,*%Z,(L%
19%8-),($4$=%@<%K/*-9%>>U?9e
&
&
\)*.T)*.&f&GS#*.S#%&N#*T&12&7"6#*0$0
FE&HS%"2&DD>
%
%
H8[WDG%8%D?=%HQ%3%L7;9%:;%=>?%DHI%7E%,/URUUUR%D?6H8?9%
LP%3%DH8?=P%O>7%3<8??9%=7%L?%8?DQ7;D:LC?%D7C:938:CP%O:=>%8%
LH=%7;CP%HQ%=7%,0RUUUS%8%Q3PD%,/R1UU%=7%=>?%68?9:=78R%O:=>7H=%
DQ?6:EP:;<%=>?%3QQC:63=:7;%7E%=>?%Q3PI?;=S%R44"$G%.>7HC9%
=>:D%L?%3QQC:?9%=7%=>?%,0RUUU%E78%O>:6>%=>?%DH8?=P%:D%3CD7%
8?DQ7;D:LC?%78%E78%=>?%,JRUUU%O>:6>%O3D%;7=%<H383;=??9f
%
%
`EOIG%*>?%,/R1UU%D>7HC9%L?%3QQC:?9%=7%=>?%,JRUUU%
O>:6>%O3D%;7=%<H383;=??9S%*>:D%:D%D7%L?63HD?%3D%8?<389D%
=>?%Q8:;6:Q3C%9?L=78%8=%D3:9%,JRUUU%:D%I78?%7;?87HD%=>3;%
=>?%,0RUUU%>?%D7C:938:CP%7O?9%=7<?=>?8%O:=>%=>?%DH8?=PS%*>:D%
:D%D7%L?63HD?%=>?%DH8?=P%!%Z?9%>:D%C:3L:C:=P%3=%3;%3I7H;=%
C7O?8%=>3;%=>3=%9H?%E87I%=>?%Q8:;6:Q3C%9?L=78S
%
%
[VSWEG%*>?%`I78?%LH89?;D7I?a%8HC?%97?D%('+%3QQCP%
O>?;%=>?%9?L=78%>3D%I39?%3QQC:63=:7;%7E%Q3PI?;=S
%
EF,0!-$G
%
%
8%7O?D%Z%=O7%9?L=DR%L7=>%7E%O>:6>%38?%3C8?39P%9H?S%
*>?%!%#4+%9?L=%:D%D?6H8?9%LP%3%I78=<3<?R%=>?%4$&'()%:D%;7=S%
8%=?CCD%Z%=>3=%=>?%Q3PI?;=%>?%:D%;7O%I3^:;<%D>7HC9%L?%
3QQC:?9%=7%=>?%4$&'()%9?L=R%:;D=?39%7E%=>?%!%#4+S%Z%8?EHD?D%=7%
366?Q=%DH6>%3QQC:63=:7;%7;%=>?%<87H;9%=>3=%=>?%!%8D=%9?L=%:D%
I78?%LH89?;D7I?%=7%=>?%9?L=78R%3;9%=>3=R%=>?8?E78?R%Q3PV
I?;=%IHD=%L?%3QQC:?9%=7%:=%!%8D=S%"D%Z%6788?6=f
%
%
8VD9G%-7R%Z%:D%;7=%6788?6=%L?63HD?%3C=>7H<>%:=%:D%=8H?%
=>3=%=>?%I78=<3<?%9?L=%:D%I78?%7;?87HDR%D=:CC%=>?%Q8?E?8?;6?%
7E%=>?%9?L=78%>:ID?CE%IHD=%L?%E7CC7O?9S%*>:D%:D%D7%L?63HD?%
58=S%/J1M%63;;7=%L?%3QQC:?9%:;%63D?%3QQC:63=:7;%7E%Q3PI?;=D%
>3D%L??;%I39?%LP%=>?%9?L=78%:;%3667893;6?%O:=>%58=S%/J1JS%
b?D:9?DR%:=%:D%;7=%=>?%68?9:=78_D%LHD:;?DD%=7%<7%3<3:;D=%=>?%
M/M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1M
O:D>?D%7E%=>?%9?L=78%O>7%Q8?E?8D%=7%C?3F?%H;Q3:9%=>?%I78?%
LH89?;D7I?%7LC:<3=:7;%>?8?R%E78%=>?%Q?8D7;%O>7%I:<>=%L?%
Q8?WH9:6?9% 3;PO3PR% :E% 3=% 3CCR% O:CC% L?% =>?% 9?L=78R% ;7=% =>?%
68?9:=78S%25D%:IQC:?9%E87I%=>?%63D?%7E%N,#&*,%19%E(#*a"$k=%
@U%S9N9%p:P%Dq%V'9%Q:=%!9%Q:>=%C:%K/*-9%@QP=%O>:6>%>?C9%=>3=%
=>?%I78?%LH89?;D7I?%8HC?%:D%;7=%3QQC:63LC?%O>?;%=>?8?%>3D%
L??;%3QQC:63=:7;%7E%Q3PI?;=4S\
XBY& L0(045%*#(%)*&)+&ZS%'S&,-"%.#(%)*&3$&V)$(&,*04)9$
&
%
.7I?=:I?D%:=%:D%?3DPR%3;9%D7I?=:I?D%:=%:D%>389%=7%9?=?8I:;?%
O>:6>% 7LC:<3=:7;% :D% =>?% I7D=% 7;?87HDS% *>?% 8?3D7;% :D% =>3=% =>?%
LH89?;%I3P%L?%8?C3=:F?S%"=%E7CC7ODR%=>?8?E78?R%=>3=%;7%>389%3;9%
E3D=%8HC?D%63;%L?%QH=%HQR%L?63HD?%O>3=%I3P%L?%=8H?%:;%7;?%63D?%
I3P%;7=%L?%=8H?%:;%3;7=>?8%63D?S%7<%T,(#$4,%P:>?S%*>:D%L?67I?D%
I78?%?F:9?;=%O>?;%;7=%7;?%6:86HID=3;6?%3C7;?%:D%67;D:9?8?9%LH=%
3%67IL:;3=:7;%7E%9:EE?8?;=%6:86HID=3;6?D%3D%O>?;G
%
%
S6-*J,+*'(% 8% Y% :D% D?6H8?9% LP% 3% I78=<3<?R% ;7;V:;=?8?D=%
L?38:;<R%3;9%8?6?;=S
%
%
S6-*J,+*'(%Z%]%:D%H;D?6H8?9R%LH=%I3Z:IHI%:;=?8?D=%L?38V
:;<R%3;9%7C9S
%
%
";% DH6>% 63D?DR% =>?% Q38=:6HC38% 6:86HID=3;6?D% O>:6>% >3F?%
D:<;:!%63;=%L?38:;<%7;%=>?%63D?%3=%>3;9%D>7HC9%L?%7LD?8F?9%3;9%
=>?%L3C3;6:;<%IHD=%L?%97;?S%+7O?F?8R%3D%3%C3D=%8?D78=R%O>?;%
:=% 63;;7=% 9?!%;:=?CP% L?% 9?=?8I:;?9% O>?=>?8% 7;?% 9?L=% :D% I78?%
LH89?;D7I?%=>3;%=>?%7=>?8R%=>?%3H=>78%L?C:?F?D%=>3=%L7=>%O:CC%
L?%67;D:9?8?9%?XH3CCP%LH89?;D7I?R%3;9%>?;6?%Q3PI?;=%IHD=%L?%
3QQC:?9%=7%L7=>%!#'%#,+,9
XFY& H4)-"05
&
%
"E%7;?%9?L=%:D%,/SJ%I:CC:7;%3;9%=>?%7=>?8%:D%,NUURUUUR%3;9%
=>?% 9?L=78% O:=>7H=% I3^:;<% 3;P% 3QQC:63=:7;% 7E% Q3PI?;=% <:F?D%
,KUURUUUR%>7O%D>7HC9%D3:9%Q3PI?;=%L?%3QQC:?9R%Q8?DHI:;<%=>3=%
L7=>%38?%7E%=>?%D3I?%;3=H8?%3;9%LH89?;f
%
%
8VD9G%*>?%Q3PI?;=%O:CC%L?%3QQC:?9%Q87Q78=:7;3=?CPS%+?;6?R%
,JUURUUU%O:CC%L?%9?9H6=?9%E87I%=>?%!%8D=R%3;9%,/UURUUU%O:CC%L?%
9?9H6=?9%E87I%=>?%D?67;9S%*>?%!%8D=%9?L=%O:CC%;7O%L?%,/%I:CC:7;%
3;9%=>?%D?67;9%O:CC%L?%,1UURUUUS%*>?%83=:7%>?8?%7E%=>?%!%8D=%9?L=%
=7%=>?%D?67;9%9?L=%:D%=>HD%Q8?D?8F?9R%;3I?CPR%J%:D%=7%/S
M/1
%
58=S%/J11
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
G9-$0'(%)*&?
H7gVJKM&Ng&!JGG3,K
&
74(2&C?==2&MS0&60-()4&5#Q&'060&)4&#$$%.*&S%$&84)804(Q&()&
S%$&'406%()4$&%*&8#Q50*(&)+&S%$&60-($2&MS%$&'0$$%)*@&9*"0$$&(S040&
%$& $(%89"#(%)*& ()& (S0& ')*(4#4Q@& $S#""& )*"Q& 40"0#$0& (S0& 60-()4&
+4)5&40$8)*$%-%"%(Q&+)4&(S0&*0(&84)'006$&)+&(S0&(S%*.&#$$%.*062&
MS0&#.40050*($&RS%'S@&)*&(S0&0++0'(&)+&(S0&'0$$%)*@&#40&5#60&
-0(R00*& (S0& 60-()4& #*6& S%$& '406%()4$& $S#""& -0& .)104*06& -Q&
$80'%#"&"#R$2
!,VVJKMW
XCY& !0$$%)*&)4&7$$%.*50*(&%*&b#1)4&)+&!406%()4$&L0!&*06
%
%
"=%:D%=>?%Q876?DD%LP%O>:6>%3%9?L=78%=83;DE?8D%3CC%=>?%Q87QV
?8=:?D%;7=%DHLW?6=%=7%?Z?6H=:7;%:;%E3F78%7E%>:D%68?9:=78D%D7%=>3=%
=>?%C3==?8%I3P%D?CC%=>?IR%3;9%=>HD%3QQCP%=>?%Q876??9D%=7%=>?:8%
68?9:=DS%7D$$%<%T,(#$4,%PQPh%[,4+,(h%,()%8#+9%:QBB?9
X?Y& k%*6$&)4&!"#$$0$&)+&7$$%.*50*(
234% O$J,-%2*>:D%:D%<7F?8;?9%LP%=>?%";D7CF?;6P%$3Oe%[.?6S%0R%56=%
/d1N\4S%2*>?%0,3'#*+5%7E%68?9:=78D%IHD=%3<8??S4
2L4% d'-"(+,#5%2*>:D%:D%O>3=%:D%8?E?88?9%=7%:;%58=S%/J11S4%28--%
=>?%68?9:=78D%IHD=%3<8??S4
XBY& /0_9%$%(0$&+)4&e)"9*(#4Q&7$$%.*50*(
234% I78?%=>3;%7;?%9?L=e
2L4% I78?%=>3;%7;?%68?9:=78e
264%
67IQC?=?%78%Q38=:3C%:;D7CF?;6P%7E%9?L=78e
294% 3L3;97;I?;=% 7E% 3CC% 9?L=78_D% Q87Q?8=P% ;7=% ?Z?IQ=% E87I%
?Z?6H=:7;%2H;C?DD%?Z?IQ=:7;%:D%1,-*)-5%O3:F?9%LP%9?L=784%
:;%E3F78%7E%68?9:=78De
2?4% 366?Q=3;6?%78%67;D?;=%7;%=>?%Q38=%7E%=>?%68?9:=78D%2E78%:=%
63;;7=% L?% :IQ7D?9% 7;% 3;% H;O:CC:;<% 68?9:=784S% 7N'1\+9% 19%
O"L6,(=%c[8e%PC%S9N9%:@@@?9
M/N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J11
XFY& J++0'(&)+&e)"9*(#4Q&7$$%.*50*(
234% *>?%68?9:=78D%97%;7=%L?67I?%=>?%7O;?8De%=>?P%38?%I?8?CP%3DV
D:<;??D%O:=>%3H=>78:=P%=7%D?CCS%2"E%7O;?8D>:Q%:D%=83;DE?88?9R%
=>:D%L?67I?D%3%),+*'(%*(%4'-"+"09?
2L4% *>?%9?L=78%:D%8?C?3D?9%HQ%=7%=>?%3I7H;=%7E%=>?%;?=%Q876??9D%
7E%=>?%D3C?R%H;C?DD%=>?8?%:D%3%D=:QHC3=:7;%=7%=>?%67;=838PS%78#+9%
:QBB=%Q()%4$(+$(&$?9%*>?%L3C3;6?%8?I3:;D%67CC?6=:LC?S
264%
!8?9:=78D% O:CC% 67CC?6=% 68?9:=D% :;% =>?% 789?8% 7E% Q8?E?8?;6?%
3<8??9%HQ7;R%78%:;%9?E3HC=%7E%3<8??I?;=R%:;%=>?%789?8%789:V
;38:CP%?D=3LC:D>?9%LP%C3OS
%
cVSWEG%.7I?%Q87Q?8=:?D%D>7HC9%;7=%L?%3DD:<;?9R%DH6>%3DG
/4%
=>?%E3I:CP%>7I?R%O>?=>?8%WH9:6:3CCP%78%?Z=83WH9:6:3CCP%
68?3=?9R%D3F?%:;%6?8=3:;%?Z6?Q=:7;D%7D$$%8#+49%QQP=%QQ;=%
[*1*-%[')$?h
J4%
=>?%3I7H;=%;??9?9%LP%=>?%9?L=78%=7%DHQQ78=%>:ID?CE%
3;9%=>7D?%>?%:D%8?XH:8?9%65%-,.%=7%DHQQ78=S%7D$$%8#+9%
CBU=%[*1*-%[')$?9%2"E%DH6>%3I7H;=%:D%;7=%8?D?8F?9R%=>?%
&$44*'(%:D%;7=%F7:9%LH=%0$#$-5%#$)"&*6-$%=7%=>?%?Z=?;=%
=>3=%=>?%DHQQ78=%:D%:IQ3:8?9S%*>?%Q38=P%Q8?WH9:6?9%63;%
3D^%=>?%67H8=%E78%=>?%8?9H6=:7;S4%7D$$%65%*0!-*&,+*'(%
8J,!*+'%19%I$%Y'5,=%p[989q%@U%S9N9%V'9%PBQ;?9e
X=Y& !JGG3,K&L%$(%*.9%$S06&+4)5&L7!3,K&JK&H7O,
%
I8[RSV%EV%K8NS
[EDDRSV
34%
97?D% ;7=% 3EE?6=% 5$$% =>?% 34%
Q87Q?8=:?D
:;% <?;?83CR% 3EE?6=D% 5$$% =>?%
Q87Q?8=:?D%7E%=>?%9?L=78
L4%
97?D%;7=%8?XH:8?%QCH83C:=P% L4%
7E%68?9:=78D
8?XH:8?D% 0'#$% +/,(% '($%
&#$)*+'#% 7D$$% 8#+9% :QBB% ,()%
<%T,(#$4,%PQ@?
64%
7;CP% =>?% DQ?6:!%6% 78% 67;V 64%
6?8;?9% 68?9:=78_D% 67;D?;=%
:D%8?XH:8?9
8?XH:8?D% =>?% 67;D?;=% 7E% ,--%
=>?%68?9:=78D
M/]
%
58=S%/J11
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
94%
I3P%=3^?%QC36?%9H8:;<%=>?% 94%
4'-1$(&5%7E%=>?%9?L=78
8?XH:8?D% EHCC% 78% Q38=:3C% :;V
D7CF?;6P
?4%
=83;DE?8D% 7O;?8D>:Q% HQ7;% ?4%
9?C:F?8P
97?D% ('+% =83;DE?8% 7O;?8V
D>:Q
E4%
=>:D%:D%8?3CCP%3;%36=%7E%;7F3V E4%
=:7;
;7=%3;%36=%7E%;7F3=:7;
%
7D$$%<%T,(#$4,%PQP?9
%
%
cVSWEG% ";% 7;?% 63D?R% =>?% .HQ8?I?% !7H8=% 0*4+,L$(-5% 8?V
E?88?9%=7%3%`8?;7H;6:;<a%7E%7;?_D%36XH:8?9%:;>?8:=3;6?%:;%E3F78%7E%
3%68?9:=78%7E%3%4*(J-$%)$6+R%3D%3%&$44*'(%:;D=?39%7E%3%),+*'(9%7D$$%
RJ(,&*'%19%T,#+*($k=%PP%K/*-9%BC;?9e
G9-$0'(%)*&B
MJKLJ/&,b&H7gVJKM&7KL&!,KG3OK7M3,K
3KM/,LI!M,/g&!,VVJKMW
XCY& jM0*604&)+&H#Q50*(d&L0!&*06
%
%
*>?%36=%7E%7EE?8:;<%=>?%68?9:=78%O>3=%:D%9H?%>:I%=7<?=>?8%
O:=>%3%9?I3;9%=>3=%=>?%68?9:=78%366?Q=%=>?%D3I?S
&
&
G)')&12&A96.0&V%"%(#*(0
O/&=ED<C@&A9*2&?E@&CDEB
%
%
*>?%7LW?6=:F?%7E%;7=:6?%!#*'#%=7%67;D:<;3=:7;%:D%=7%<:F?%=>?%
68?9:=78%3%6>3;6?%=7%8?67;D:9?8%>:D%8?EHD3C%=7%366?Q=%Q3PI?;=S%
";%=>:D%O3PR%67;D:<;3=:7;%3;9%C:=:<3=:7;%I3P%L?%3F7:9?9S%&;%=>?%
7=>?8%>3;9R%=>?%QH8Q7D?%7E%;7=:6?%,2+$#%67;D:<;3=:7;%:D%=7%?;3LC?%
=>?%68?9:=78%=7%O:=>983O%=>?%I7;?P%78%<779D%9?Q7D:=?9%O:=>%=>?%
WH9:6:3C%3H=>78:=:?DS
X?Y& j!)*$%.*#(%)*d&L0!&*06
%
%
*>?%36=%7E%9?Q7D:=:;<%=>?%=>:;<%9H?%O:=>%=>?%67H8=%78%WH9:6:3C%
3H=>78:=:?D%O>?;?F?8%=>?%68?9:=78%63;;7=%366?Q=%78%8?EHD?D%=7%
366?Q=%Q3PI?;=S%"=%J$($#,--5%8?XH:8?D%3%Q8:78%=?;9?8%7E%Q3PI?;=S%
7O*0L,L'%19%W$')'#'=%C@%K/*-9%P:?9
%
M/0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1N
&
&
L0&e04#@&0(&#"2&12&/089-"%'@&0(&#"2
:;B?DDE@&A9"2&C?@&CDPB
&
%
"E%=>?%C?DD78%8?EHD?D%=7%366?Q=%=>?%Q3PI?;=%7E%8?;=3CDR%O>3=%
=>?%C?DD??%D>7HC9%97%:D%=7%8?D78=%=7%WH9:6:3C%9?Q7D:=D%7E%=>?%678V
8?DQ7;9:;<%3I7H;=DS
XBY& jM0*604&)+&H#Q50*(d&L%$(%*.9%$S06&+4)5&j!)*$%.*#(%)*d
%
%
`*>?%6C?38%I?3;:;<%7E%=>?D?%O789D%D>7O%=>?:8%9:EE?8?;6?S%
*(-'(@% :D% =>?% 3;=?6?9?;=% 7E% !&-."h-5*"&-R% *9$SR% 3;% 36=%
Q8?Q383=78P% =7% =>?% 67;D:<;3=:7;R% O>:6>% :D% =>?% Q8:;6:Q3CR% 3;9%
E87I%O>:6>%38?%9?8:F?9%=>?%:II?9:3=?%67;D?XH?;6?D%O>:6>%=>?%
9?L=78%9?D:8?D%78%D??^D%=7%7L=3:;S%*(-'(@%7E%Q3PI?;=%I3P%L?%
?Z=83WH9:6:3CR%O>:C?%!&-."h-5*"&-%:D%;?6?DD38:CP%WH9:6:3CR%3;9%
=>?%Q8:78:=P%7E%=>?%!%8D=%:D%=>?%3==?IQ=%=7%I3^?%3%Q8:F3=?%D?==C?V
I?;=%L?E78?%Q876??9:;<%=7%=>?%D7C?I;:=:?D%7E%67;D:<;3=:7;Sa%7<%
T,(#$4,%PQB?9
XFY& /9"0$&)*&H#Q50*(&V9$(&N0&!)58"%06&Z%(S
&
%
*?;9?8% 7E% Q3PI?;=% 3;9% 67;D:<;3=:7;R% =7% ?Z=:;<H:D>% =>?%
9?L=78_D% 7LC:<3=:7;% IHD=% 67IQCP% O:=>% =>?% 8?XH:D:=?D% Q87F:9?9%
:;%58=DS%/J1NV/J10%7E%=>?%!:F:C%!79?S%*>HDR%:E%=>?%9?L=78%I39?%
3%=?;9?8%7E%Q3PI?;=%LP%=?C?<83Q>:6%=83;DE?8%D?;=%=7%=>?%6C?8^%7E%
67H8=R%3;9%=>?%D3I?%O3D%;7=%8?6?:F?9%LP%=>?%68?9:=78R%LH=%:;D=?39%
8?=H8;?9% =7% =>?% 9?L=78R% :=% 63;;7=% L?% <:F?;% ?EE?6=S% 78-$0,#4% 19%
[,J,5,(%d,--$5%['--$J$=%R(&9=%OA::QCU=%8!#9%<=%:>B<?9
&
74(2&C?=<2&3+&(S0&'406%()4&()&RS)5&(0*604&)+&8#Q50*(&S#$&
-00*&5#60&40+9$0$&R%(S)9(&U9$(&'#9$0&()&#''08(&%(@&(S0&60-()4&
$S#""&-0&40"0#$06&+4)5&40$8)*$%-%"%(Q&-Q&(S0&')*$%.*#(%)*&)+&
(S0&(S%*.&)4&$95&6902
&
!)*$%.*#(%)*&#")*0&$S#""&84)69'0&(S0&$#50&0++0'(&%*&(S0&
+)"")R%*.&'#$0$W
&
XCY& ZS0*&(S0&'406%()4&%$&#-$0*(&)4&9*T*)R*@&)4&6)0$&*)(&
#880#4&#(&(S0&8"#'0&)+&8#Q50*(h
&
X?Y& ZS0*&S0&%$&%*'#8#'%(#(06&()&40'0%10&(S0&8#Q50*(&#(&
(S0&(%50&%(&%$&690h
M/d
%
58=S%/J1N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
XBY& ZS0*@& R%(S)9(& U9$(& '#9$0@& S0& 40+9$0$& ()& .%10& #& 40;
'0%8(h
&
XFY& ZS0*&(R)&)4&5)40&804$)*$&'"#%5&(S0&$#50&4%.S(&()&
')""0'(h
&
X=Y& ZS0*&(S0&(%("0&)+&(S0&)-"%.#(%)*&S#$&-00*&")$(2&
!,VVJKMW
XCY& J++0'(&)+&M0*604&Z%(S)9(&!)*$%.*#(%)*
&
%
*?;9?8%7E%Q3PI?;=%.*+/'"+%67;D:<;3=:7;%97?D%;7=%?Z=:;V
<H:D>%=>?%9?L=e%67;D:<;3=:7;%IHD=%E7CC7OS%7[,!,-"(J,(%19%T$A
)#,('=%OA:PC<P=%T,5%:<=%:>;U?9
%
EF,0!-$4G
234% 8%7O?D%Z%3%DHI%7E%I7;?PS%8%<:F?D%Z%=>?%I7;?P%LH=%Z%8?EHD?D%
O:=>7H=%WHD=%8?3D7;%=7%366?Q=%:=S%c>3=%D>7HC9%8%;7O%97f
%
%
8VD9G%8%IHD=%9?Q7D:=%=>?%I7;?P%:;%67H8=R%D:;6?%>:D%
=?;9?8%7E%Q3PI?;=%O3D%8?EHD?9%O:=>7H=%WHD=%8?3D7;S%+:D%
9?Q7D:=%:;%67H8=%:D%63CC?9%67;D:<;3=:7;S
2L4% c>?;%3%9?L=78%7O?D%I7;?P%C?;=%>:I%O:=>%:;=?8?D=R%:D%:=%DHEV
!%6:?;=%=7%WHD=%=?;9?8%=>?%Q8:;6:Q3C%O:=>7H=%=>?%:;=?8?D=f
%
%
8VD9G%-7S%*>?%=?;9?8%7E%=>?%Q8:;6:Q3C%IHD=%L?%3667IV
Q3;:?9%O:=>%=>?%=?;9?8%7E%=>?%:;=?8?D=%O>:6>%>3D%3668H?9S%
7H*$J$%n%Z#'.(%19%D0*+/=%Z$--%n%['9=%,()%['.!$#=%@P%K/*-9%
::P?9%&=>?8O:D?R%D3:9%=?;9?8%O:CC%;7=%L?%F3C:9S
&
&
e0"0a&12&710"%*)
:;FEFFE@&A#*2&?>@&CDEF
%
%
"E%3%C?DD??%=?;9?8D%>:D%8?;=%LH=%=>?%C?DD78%8?EHD?D%=7%
366?Q=%=>?%D3I?R%=>?%E78I?8%IHD=%67;D:<;%=>?%8?;=%:;%67H8=%
2LP%!%8D=%!%C:;<%3;%36=:7;%E78%67;D:<;3=:7;4%78%?CD?%9?Q7D:=%=>?%
8?;=%:;%3%L3;^R%H;9?8%=>?%C?DD??_D%;3I?%2O:=>%=>?%%C?DD??%
L?:;<%;7=:!%?9%7E%=>?%9?Q7D:=4S%"E%=>:D%:D%;7=%97;?R%?W?6=I?;=%
I3P%Q87DQ?8%H;9?8%b3=3D%,3IL3;D3%b:C3;<%J1S
MJU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1N
X?Y& ZS0*&!)*$%.*#(%)*&3$&K)(&/0_9%406
%
%
";% D7I?% 63D?DR% >7O?F?8R% 67;D:<;3=:7;% :D% ('+% 8?XH:8?9R%
I?8?%=?;9?8%L?:;<%;??9?9S%*>:D%:D%D7%O>?8?%=>?8?%8?3CCP%?Z:D=D%
;7%9?L=R%;7%7LC:<3=:7;R%3;9%O>?8?%=>?8?E78?%Q3PI?;=%:D%!"#$-5%
1'-"(+,#5R%=>3=%:DR%=>?%Q?8D7;%7EE?8:;<R%3=%>:D%7Q=:7;R%67HC9%>3F?%
8?EHD?9%=7%7EE?8S%*>:D%I3P%>3QQ?;%:;%=>?%63D?%7E%&,*"&-.%784A
+"#*,4%D"J,#%[$(+#,-%19%K"#$%[,($%T'-,44$4%['9=%;U%K/*-9%QBB?=%
78%:;%=>?%63D?%7E%3%K8[WS%IE%XEWXS%7d*--$J,4%19%[,!*4+#,('=%
>%K/*-9%@:;%,()%X'4,-$4%19%X$5$4=%QB%K/*-9%@>B?R%78%:;%=>?%63D?%7E%
$(h5$%@('(A,*"&-%7I$%Y$4"4%n%W,6-,(%19%N,#&*,=%c[989e%
@C%S9N9%Q@U;?=%O>?8?%7;CP%3%#*J/+=%;7=%3%9H=PR%?Z:D=DS%*>HDR%:E%
7;?%:D%<83;=?9%3;%7Q=:7;%=7%LHP%>?%I3P%78%>?%I3P%;7=%LHPR%3=%
>:D%6>7:6?e%:E%7;?%:D%<83;=?9%=>?%8:<>=%=7%8?9??IR%>?%I3P%78%>?%
I3P%;7=%8?9??I%3CD7%3=%>:D%7O;%6>7:6?S
&
&
e%""0.#$&12&!#8%$(4#*)
D&HS%"2&FC<
&
%
H8[WDG%8%D7C9%Z%3%Q:?6?%7E%C3;9%O:=>%=>?%8:<>=%7E%8?QH8V
6>3D?S% c:=>:;% =>?% =:I?% <:F?;% E78% 8?9?IQ=:7;R% 8% =?;9?8?9% =>?%
3I7H;=%=7%Z%=7%?EE?6=%=>?%8?D3C?S%bH=%Z%8?EHD?9S%8=%>7O?F?8R%9:9%
;7=%67;D:<;%=>?%I7;?P%:;%67H8=S%8%L87H<>=%3;%36=:7;%:;%67H8=%=7%
67IQ?C%Z%=7%366?Q=%=>?%8?QH86>3D?%Q8:6?S%Z%6C3:ID%=>3=%8%D>7HC9%
>3F?%9?Q7D:=?9%=>?%I7;?P%:;%67H8=R%LH=%D:;6?%8%9:9%;7=%97%D7R%3;9%
D:;6?%=>?%Q?8:79%7E%8?9?IQ=:7;%>3D%3C8?39P%C3QD?9R%8%63;;7=%;7O%
8?9??I%=>?%Q87Q?8=PS%R44"$G%c3D%67;D:<;3=:7;%;??9?9%>?8?f
%
%
`EOIG%-7S%!7;D:<;3=:7;%:D%;7=%;??9?9S%*>?%9?Q7D:=%7E%=>?%
QH86>3D?%Q8:6?%:D%:;9??9%;7=%;?6?DD38P%=7%67IQ?C%=>?%QH86>3D?8%
=7%I3^?%=>?%8?D3C?R%:E%>?%2ZR%=>?%78:<:;3C%QH86>3D?84%8?EHD?D%=7%
366?Q=%=>?%I7;?PS
%
%
X$,4'(G%*>?%36=:6C?D%7;%67;D:<;3=:7;%8?E?8%7;CP%=7%9?L=DS%
8%>?8?%O3D%;7=%3%9?L=78%7E%ZR%:;3DIH6>%3D%8%O3D%E8??%?:=>?8%=7%
8?QH86>3D?%=>?%Q87Q?8=P%78%;7=S
%
%
cVSWEG%";%=>?%3L7F?VI?;=:7;?9%63D?%:=%D>7HC9%L?%;7=?9%=>3=%
67;D:<;3=:7;%:D%;7=%8?XH:8?9%=7%!#$4$#1$%+/$%#*J/+%'2%#$)$0!+*'(9%
+7O?F?8R%=>?8?%:D%8?3CCP%('%#$)$0!+*'(%P?=%H;C?DD%Q3PI?;=%O3D%
36=H3CCP%I39?%78%=>?%Q8:6?%67;D:<;?9S%.=3=?9%9:EE?8?;=CPR%:=%:D%
=8H?%=>3=%67;D:<;3=:7;%7E%=>?%8?9?IQ=:7;%Q8:6?%:D%('+%($&$44,#5%
MJ/
%
58=S%/J1N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
:;%789?8%=>3=%=>?%F?;978%I3P%67IQ?C%=>?%F?;9??%=7%3CC7O%=>?%
8?QH86>3D?%7X'4,-$4%19%X$5$4%n%S#),($k,=%QB%K/*-9%@>B?R%I?8?%
=?;9?8% 7E% Q3PI?;=% L?:;<% ?;7H<>R% :E% I39?% '(% =:I?% 3D% 3% L3D:D%
E78%36=:7;%3<3:;D=%=>?%F?;9??%=7%67IQ?C%>:I%=7%8?D?CCS%bH=%=>3=%
=?;9?8%)'$4%('+%*(%*+4$-2%8?C:?F?%=>?%F?;978%E87I%>:D%7LC:<3=:7;%=7%
Q3P%=>?%Q8:6?%O>?;%8?9?IQ=:7;%:D%3CC7O?9%LP%=>?%67H8=S%+?;6?R%
I?8?%=?;9?8%:D%DHE!%6:?;=%=7%&'0!$-%#$)$0!+*'(%LH=%:D%;7=%:;%:=D?CE%
Q3PI?;=S%7K,$k%19%T,J('=%<P%K/*-9%@UB?9e
&
&
!)&12&HKN
:;<CPEP@&A9*2&?D@&CDE?
%
%
"E%=>?%=?;9?8%7E%#$)$0!+*'(%I7;?P%:D%8?EHD?9R%=>?8?%:D%;7%
;??9%=7%67;D:<;%:=%:;%67H8=S
XBY& ZS0*& !406%()4& 3$& A9$(%!&06& %*& /0+9$%*.& M0*604& )+& H#Q;
50*(
%
%
*>?%68?9:=78%:D%WHD=:!%?9%:;%8?EHD:;<%=7%366?Q=%=>?%=?;9?8%7E%
Q3PI?;=%:E%=>?%=?;9?8%7E%Q3PI?;=%:D%('+%1,-*)9%*7%L?%F3C:9R%=>?%
=?;9?8%7E%Q3PI?;=%IHD=%>3F?%=>?%E7CC7O:;<%8?XH:D:=?DG
234% "=%IHD=%L?%I39?%:;%-$J,-%+$()$#%2C3OEHC%6H88?;6P4S%*>HDR%
=?;9?8:;<% LP% O3P% 7E% 3% 6>?6^R% ?F?;% 3% I3;3<?8_D% 6>?6^%
:D% I39?R% =>?% 9?E?6=% :;% =?;9?8% I3P% L?% 67;D:9?8?9% 6H8?9S%
7T*,*-/$%I$46,#,+4%19%d,#$-,=%OA@>:B=%T,5%QB=%:>B;?9
%
&
&
&
b#4&J#$(&N#*T&#*6&M49$(&!)2&12&L%#a&/0#"(Q
O/&CBE=EE@&79.2&?B@&?>>C
%
%
)78% 3% F3C:9% =?;9?8% 7E% Q3PI?;=R% :=% :D% ;?6?DD38P% =>3=%
=>?8?%L?%3%EHD:7;%7E%:;=?;=R%3L:C:=PR%3;9%63Q3L:C:=P%=7%I3^?%
<779% ?36>% 7EE?8R% O>:6>% IHD=% L?% 3LD7CH=?% 3;9% 67F?8% =>?%
3I7H;=%9H?S
%
%
*>7H<>%3%6>?6^%:D%;7=%C?<3C%=?;9?8R%3;9%3%68?9:=78%I3P%
F3C:9CP%8?EHD?%=7%366?Q=%:=%:E%=?;9?8?9%3D%Q3PI?;=R%7;?%O>7R%
:;% E36=R% 366?Q=?9% 3% EHCCPVEH;9?9% 6>?6^% 3E=?8% =>?% 9?L=78_D%
I3;:E?D=3=:7;%=>3=%:=%>39%L??;%<:F?;%=7%D?==C?%3;%7LC:<3=:7;%
:D%?D=7QQ?9%E87I%C3=?8%7;%9?;7H;6:;<%=>?%?E!%6:?;6P%7E%DH6>%
=?;9?8%7E%Q3PI?;=S
MJJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%/J1N
%
2VSWEG%";%O,!"k%D5%19%E"2$0*'=%OA:UBCQ=%D$!+9%PU=%
:>B<=%=>?%.HQ8?I?%!7H8=%>?C9%=>3=%3%6>?6^%:;=?;9?9%=7%Q3P%
3%9?L=R%:E%#$2"4$)%LP%=>?%7LC:<??%78%68?9:=78%:D%('+%3%F3C:9%
=?;9?8%7E%Q3PI?;=S%*>?%E36=%=>3=%:;%Q8?F:7HD%P?38DR%Q3PV
I?;=%:;%6>?6^%LP%=>?%9?L=78%O3D%366?Q=?9%LP%=>?%68?9:=78%
97?D%('+%QC36?%=>?%C3==?8%:;%?D=7QQ?C%=7%Q8?F?;=%>:I%E87I%
8?XH:8:;<%=>?%E78I?8%=7%Q3P%>:D%7LC:<3=:7;%:;%63D>S4
2L4% "=%IHD=%:;6CH9?%O>3=?F?8%:;=?8?D=%:D%9H?S%7H*$J$%n%Z#'.(%
19%D0*+/=%Z$--%n%['9=%@P%K/*-9%::P?9
264%
h?;?83CCPR%:=%IHD=%L?%H;67;9:=:7;3CS%7K/*-9%V,+9%Z,(L%19%
X$-,+*1'=%$+%,-9=%>Q%K/*-9%QUP?9%bH=%:E%I39?%O:=>%67;9:=:7;DR%
3;9%366?Q=?9%LP%=>?%68?9:=78%.*+/'"+%Q87=?D=R%=>?%68?9:=78%
63;;7=%C3=?8%7;%Q8?D68:L?%=>?%=?8ID%E78%=>?%F3C:9:=P%7E%=>?%
366?Q=3;6?%O>:6>%>?%>39%3C8?39P%I39?S%7d*),-=%8#,($+,%n%
['9%19%_5%W$&L=%c[8e%@U%S9N9%cD"!!9%:Qe=%!9%Q<?9
294% *>?%7LC:<3=:7;%IHD=%3C8?39P%L?%9H?S%7D,-1,(+$%19%_6*%[#"k=%
<<%K/*-9%QP;?9
XFY& /9**%*.&)+&3*(040$(
234% "E%3E=?8%=?;9?8R%67;D:<;3=:7;%:D%I39?%1$#5%0"&/%-,+$#%27;?%
P?38R%E78%?Z3IQC?4R%*(+$#$4+%4/'"-)%#"(%H;=:C%=>?%Q8:;6:Q3C%
:D%Q3:9S%7O-,0,4%19%86,5,=%;U%K/*-9%BUQ?9
2L4% 5C=>7H<>%3%6?8=:!%?9%6>?6^%:D%;7=%C?<3C%=?;9?8R%D=:CC%:E%:=%:D%
=?;9?8?9R%LH=%8?EHD?9%7;%<87H;9%'+/$#%+/,(%+/$%2,&+%+/,+%*+%
*4%('+%-$J,-%+$()$#=%3;9%=>?%8?EHD3C%:D%:II?9:3=?CP%E7CC7O?9%
LP%67;D:<;3=:7;%Y
/4%
"D%=>?%9?L=%?Z=:;<H:D>?9f
%
%
8VD9G%-7R%L?63HD?%3I7;<%7=>?8%=>:;<DR%=>?%6>?6^%
:D%;7=%C?<3C%=?;9?8R%3;9%=>?8?E78?%=>?%67;D:<;3=:7;%O3D%
;7=%F3C:9S
J4%
':9%:;=?8?D=%8H;%E87I%=>?%93=?%7E%=?;9?8f
%
%
8VD9G%-7R%L?63HD?%=>?%=?;9?8%O3D%I39?%:;%<779%
E3:=>e%=>?%6>?6^%67HC9%8?39:CP%L?%67;F?8=?9%=7%63D>%:;%
F:?O% 7E% =>?% 6?8=:!%63=:7;% =>3=% =>?% 9?L=78% 8?3CCP% >39%
DHE!%6:?;=%EH;9D%:;%=>?%L3;^De%3;9%!%;3CCP%L?63HD?%3E=?8%
3CCR%=>?%63HD?%E78%8?EHD3C%=7%366?Q=%O3D%3%<87H;9%'+/$#%
MJK
%
58=S%/J1N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
+/,(%=>3=%:=%O3D%;7=%C?<3C%=?;9?8S%7N#$J'#*'%8#,($+,=%
R(&9%19%W",4'(%)$%K,+$#('%n%d*),-=%>:%K/*-9%;<;?9
%
%
2VSWEG% ";% =>:D% 63D?R% =>?% 68?9:=78% >39% 8?EHD?9%
=>?% =?;9?8% L?63HD?% 366789:;<% =7% >:I% =>?% 9?L=% O3D%
;7=%P?=%9H?R%3;9%>?%9:9%;7=%O3;=%=7%366?Q=%=>?%6>?6^%
L?63HD?%=>?%=?;9?8%=77^%QC36?%9H8:;<%=>?%g3Q3;?D?%
766HQ3=:7;R%3;9%>?%9:9%;7=%O3;=%g3Q3;?D?%I7;?PS%*>?%
!7H8=%>?C9%>7O?F?8%=>3=%=>?%9?L=%O3D%3C8?39P%9H?R%
3;9R%=>?8?E78?R%Q3P3LC?S4
X=Y& ZS0*& !)*$%.*#(%)*& 3$& G9+!&'%0*(& J10*& Z%(S)9(& #& H4%)4&
M0*604
%
%
!7;D:<;3=:7;%3C7;?%2O:=>7H=%=?;9?84%:D%3CC7O?9%:;%=>?%E7CV
C7O:;<%63D?DG
234% c>?;%=>?%68?9:=78%:D%5b.(-*%78%i-p-&c-%78%'&(.%
-&*%5,,(5@%3=%=>?%QC36?%7E%Q3PI?;=S%2*>?%68?9:=78%;??9%
('+%L?%WH9:6:3CCP%9?6C38?9%3LD?;=S4
2L4% c>?;% =>?% 68?9:=78% :D% "-!5,5!"*5*('% =7% 8?6?:F?% Q3PV
I?;=%3=%=>?%=:I?%:=%:D%9H?S%2*>?%8HC?%97?D%('+%3QQCP%:E%=>?%
68?9:=78%>3D%3%C?<3C%8?Q8?D?;=3=:F?%3;9%=>:D%E36=%:D%^;7O;%
=7%=>?%9?L=78S4
264%
c>?;R%.*+/'"+%3"4+%&,"4$=%=>?%68?9:=78%@()i.(.%=7%<:F?%
3%8?6?:Q=S%2g"$#5G%'7?D%=>:D%;7=%Q8?DHQQ7D?%3%!#*'#%+$()$#=%
E78%7=>?8O:D?R%>7O%63;%=>?8?%L?%3%8?EHD3Cf4
294% c>?;%+.'%78%0'#$%Q?8D7;D%6C3:I%=>?%4,0$%#*J/+%=7%67CC?6=S%
25;%36=:7;%:;%"-*(@,$(5'(@%O7HC9%L?%Q87Q?8%>?8?S4
2?4% c>?;% =>?% +*+-$% 7.#*++$(% )'&"0$(+?% 7E% =>?% 7LC:<3=:7;% >3D%
L??;%$&.*S
2E4%
c>?;%=>?%9?L=78%>39%Q8?F:7HDCP%L??;%;7=:!%?9%LP%=>?%68?9:V
=78%=>3=%=>?%C3==?8%O7HC9%('+%366?Q=%3;P%Q3PI?;=S%7Z,(,A
/,.=%R(&9%19%I$3,#0$=%BB%K/*-9%PP<?9
%
&
/94#"&N#*T&12&!)94(&)+&7880#"$
:;B?CC<@&7842&?C@&CDEC
%
%
c>:C?%=?;9?8%<?;?83CCP%Q8?6?9?D%67;D:<;3=:7;R%
67;D:<;3=:7;% I3P% L?% 3CC7O?9% O:=>7H=% Q8:78% =?;9?8%
MJM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1]
:;% 6?8=3:;% 63D?D% 2$9J9=% :E% =>?8?% 38?% 67;D:9?83=:7;D% 7E%
?XH:=P%3D%O>?;%3%Q8:78%=?;9?8%78%7EE?8%3QQ?38D%=7%L?%
HD?C?DD4S
&
74(2&C?=P2&3*&)4604&(S#(&(S0&')*$%.*#(%)*&)+&(S0&(S%*.&690&
5#Q& 40"0#$0& (S0& )-"%.)4@& %(& 59$(& !&4$(& -0& #**)9*'06& ()& (S0&
804$)*$&%*(040$(06&%*&(S0&+9"!&""50*(&)+&(S0&)-"%.#(%)*2
&
MS0& ')*$%.*#(%)*& $S#""& -0& %*0++0'(9#"& %+& %(& %$& *)(& 5#60&
$(4%'("Q& %*& ')*$)*#*'0& R%(S& (S0& 84)1%$%)*$& RS%'S& 40.9"#(0&
8#Q50*(2
!,VVJKMW
XCY& J$$0*(%#"&/0_9%$%(0$&+)4&!)*$%.*#(%)*
234% ?Z:D=?;6?%7E%3%F3C:9%9?L=
2L4% F3C:9%Q8:78%=?;9?8R%H;C?DD%=?;9?8%:D%?Z6HD?9
264%
!#*'#%;7=:6?%7E%67;D:<;3=:7;%26$2'#$%9?Q7D:=4
294% 36=H3C%67;D:<;3=:7;%29?Q7D:=4
2?4% DHLD?XH?;=%;7=:6?%7E%67;D:<;3=:7;
X?Y& b%4$(&/0_9%$%(0&m&J`%$(0*'0&)+&#&e#"%6&L0-(
234% ";%=>?%63D?%7E%3;%'!+*'(=%=>?8?%:D%3%Q8:F:C?<?R%;7=%3;%7LC:<3V
=:7;%78%3%9?L=S
%
%
EF,0!-$G%8%O3D%<:F?;%3;%7Q=:7;%=7%63;6?C%3%67;=836=%
Q87F:9?9% >?% Q3:9% ,NUURUUUS% A?8?% =?;9?8% :D% DHE!%6:?;=% =7%
!#$4$#1$%=>?%#*J/+%=7%63;6?CS%7D$$%84+"#*,4%D"J,#%[$(+#,-%
19%K"#$%[,($%T'-,44$4=%;U%K/*-9%QBB?9%*>?%D3I?%:D%=8H?%:;%
=>?%63D?%7E%3;%7Q=:7;%=7%LHP%<:F?;%=7%3%C?DD??S%7D$$%d),9%)$%
g"*#*('%19%K,-,#&,=%OAQ<Q;>=%8"J9%:B=%:>;>?9
2L4% ";% =>?% 63D?% 7E% -$J,-% 8?9?IQ=:7;R% =>?8?% :D% 3D% P?=% ;7% 9?L=%
2E78%=>:D%3<3:;%:D%3%8:<>=R%;7=%3%9?L=%78%9H=P4S%7I$%Y$4"4%19%
N,#&*,=%c[989e%@C%S9N9%Q@U;?9
264%
.7%3CD7R%:;%=>?%63D?%7E%&'(1$(+*'(,-%#$)$0!+*'(%2=>:D%3<3:;%
:D% 3% 8:<>=R% ;7=% 3;% 7LC:<3=:7;4S% 7X'4,-$4% 19% X$5$4=% QB% K/*-9%
@>B?9
MJ1
%
58=S%/J1]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
294% .7%3CD7R%:E%=>?%3CC?<?9%9?L=%>3D%Q8?D68:L?9%2E78%>?8?R%=>?8?%
:D%;7%I78?%9?L=4S
2?4% .7%3CD7R%:E%=>?%9?L=%:D%E7H;9?9%7;%3;%:CC?<3C%63HD?%78%67;V
D:9?83=:7;R%78%:E%E78%3;P%7=>?8%8?3D7;R%("--%3;9%1'*)9
2E4%
.7%3CD7R%:E%=>?%7LC:<3=:7;%7E%=>?%9?L=78%:D%67;9:=:7;3CR%3;9%
=>?%67;9:=:7;%>3D%('+%L??;%EHC!%CC?9S%7D$$%D'++'%19%T*3,#$4=%
OAQPB;P?9
2<4% bH=%3%I78=<3<?%9?L=%:D%3%=8H?%3;9%F3C:9%9?L=R%3;9%Q3PI?;=%
>?8?%:D%3%'i*BS%7[,!,-"(J,(%19%T$)#,('=%OA:PC<P=%T,5%
:<=%:>;U?9
XBY& G0')*6&/0_9%$%(0&m&e#"%6&H4%)4&M0*604&I*"0$$&M0*604&
3$&J`'9$06
234% "E%=?;9?8%:D%8?XH:8?9R%:=%IHD=%L?%3%F3C:9%7;?S%2*>?8?E78?R%:=%
IHD=%L?%=>?%F?8P%7LW?6=%3<8??9%HQ7;%78%:E%3%I7;?=38P%9?L=R%
IHD=%L?%-$J,-%+$()$#e%H;C?DD%=>?%63HD?%E78%8?EHD3C%:D%D7I?%
7=>?8%<87H;9R%:=%IHD=%L?%H;67;9:=:7;3Ce%3CD7%:=%IHD=%:;6CH9?%
O>3=?F?8%:;=?8?D=%:D%9H?%7K/*-9%V,+9%Z,(L%19%X$-,+*1'=%>Q%
K/*-9% QU<h% 8#,($+,=% R(&9% 19% W",4'(% )$% K,+$#('% d*),-=% >:%
K/*-9%;<;%,()%H*$J$%,()%Z#'.(%19%D0*+/=%Z$--%n%['9=%@P%
K/*-9%::P?R%78%3;P%=3Z%3;9%3DD?DDI?;=D%=>3=%I3P%>3F?%L??;%
Q3:9%Q87Q?8CP%LP%=>?%68?9:=78S%7T*#,(),%19%X$5$4=%OAQ@C>:=%
8"J9%Q>=%:>;>?9%*>?%=?;9?8%IHD=%3CD7%L?%:;%EHCC%D3=:DE36=:7;%
7E%=>?%6C3:IR%;7=%I?8?CP%3%Q38=:3C%Q3PI?;=%=>?8?7ES%7Y'$\4%
X,)*'%,()%E-$&+#*&,-%D"!!-5%19%8-+'%E-$&+#'(*&4%,()%8-+'%
D"#$+5=%OA:QPC;=%8"J9%QQ=%:>B<?9
2L4% )78%=>?%:;D=3;6?D%O>?;%=?;9?8%:D%?Z6HD?9S%7D$$%!,#9%Q=%8#+9%
:QB;=%[*1*-%[')$%,()%&'00$(+%V'9%B%"()$#%4,*)%8#+*&-$?9
&
&
:96R%.&\#S*&12&:#a#(%*@&0(&#"2
:;CCBF<&#*6&:;CC=FD@&A9*2&B>@&CD=D
%
%
5% 67;D:<;3=:7;% =7% L?% F3C:9% IHD=% L?% Q8?6?9?9% LP% 3%
8?EHD3C%O:=>7H=%8?3D7;%=7%366?Q=%=>?%9?L=78_D%=?;9?8%7E%Q3PV
I?;=S%";%=>?%63D?%3=%L38R%QC3:;=:EE_D%8?EHD3C%=7%366?Q=%=>?%
=?;9?8%7E%Q3PI?;=%7;%5H<S%MR%/dMM%O3D%WHD=:!%?9%6$&,"4$%
H;9?8%=>?%Q87F:D:7;D%7E%=>?%67;=836=R%=>?%93=?%7E%I3=H8:=P%
O3D%g3;S%/dM1S%*>HDR%=>?%67;D:<;3=:7;%I39?%O3D%-i$$%
3;9%#&"'S
MJN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1]
XFY& MS%46&/0_9%$%(0&m&H4%)4&K)(%'0&()&H04$)*$&3*(040$(06
234% *>?%C3O%D3PD%=>?%67;D:<;3=:7;%`IHD=%!%#4+%L?%3;;7H;6?9%=7%
=>?%Q?8D7;D%:;=?8?D=?9%:;%=>?%EHC!%CCI?;=%7E%=>?%7LC:<3=:7;Sa%
78#+9%:QBC=%!,#9%:=%[*1*-%[')$?9
2L4% c:=>7H=% DH6>% ;7=:6?R% =>?% 67;D:<;3=:7;% 3D% 3% Q3PI?;=% :D%
#&"'S%7O*0L,L'%19%W$')'#'=%C@%K/*-9%P:P%,()%O,J'($#,%19%
T,&,6,-,J=%c[8e%@>%S9N9%!9%B;>?9%*>?%8?3D7;%:D%L?63HD?R%>39%
;7=:6?%L??;%I39?R%=>?%68?9:=78%O7HC9%>3F?%>39%7QQ78=H;:=P%
=7%O:=>983O%=>?%I7;?P%67;D:<;?9%3;9%=>HD%I3^?%HD?%7E%:=S%
7O,J'($#,%19%T,&,6,-,J=%c[8e%@>%S9N9%!9%B;>?%&-(%(q!(,V
*"&-%=7%=>?%8HC?%:D%O>?;%3;P%3==?IQ=%=7%<:F?%DH6>%;7=:6?%
O7HC9%L?%"4$-$44R%3D%O>?;%=>?%68?9:=78%O3D%=83F?C:;<%E87I%
QC36?%=7%QC36?%3;9%67HC9%;7=%L?%C763=?9S%7K,&*4%19%[,4+#'=%
c[8e%@P%S9N9%B::>?9
264%
K"#!'4$% '2% +/$% ('+*&$G% *7% ?;3LC?% =>?% 68?9:=78% 3;9% 7=>?8%
Q38=:?D%:;=?8?D=?9%2DH6>%3D%=>?%I78=<3<??DR%QC?9<??DR%<H38V
3;=78DR% D7C:938P% 67V68?9:=78DR% 3;9% D7C:938P% 67V9?L=78D4% =7%
8?67;D:9?8%=>?%Q8?F:7HD%8?EHD3CR%3;9%=>HDR%3F7:9%C:=:<3=:7;%
LP%=>?%D:IQC?%?ZQ?9:?;=%7E%366?Q=:;<%Q3PI?;=S%7[,6,('4=%
$+%,-9%19%[,-'=%$+%,-9=%OA:U>QC=%S&+9%P=%:>B<?9
&
&
G)')&12&A96.0&V%"%(#*(0
O/&=ED<C@&A9*2&?E@&CDEB
%
%
*?;9?8%7E%Q3PI?;=%7H<>=%=7%L?%I39?%:;%C3OEHC%6H8V
8?;6P%78%C?<3C%=?;9?8S%*>?%=?;9?8%7E%3%6>?6^%=7%Q3P%3%I7;V
?=38P%7LC:<3=:7;%:D%('+%3%F3C:9%=?;9?8%7E%Q3PI?;=S%(F?;%:E%:;%
Q8?F:7HD%P?38DR%=>?%68?9:=78%>39%366?Q=?9%6>?6^%Q3PI?;=DR%
=>:D%O:CC%;7=%QH=%>:I%:;%?D=7QQ?CS%*>HDR%>?%63;%D=:CC%8?XH:8?%
=>?%9?L=78%=7%Q3P%:;%63D>S
294% -??9C?DD%=7%D3PR%=>?%;7=:6?%7E%67;D:<;3=:7;%I3P%L?%I39?%LP%
I?8?CP%<:F:;<%;7=:6?%7E%=>?%9?L=78_D%*(+$(+*'(%+'%+,L$%+/$%&,4$%
+'%&'"#+=%*(%+/$%$1$(+%+/,+%+$()$#%*4%#$3$&+$)9%7d,-$(k"$-,%19%
Z,L,(*=%OA@;<>=%8"J9%P:=%:>BP?9%*>:D%:D%=7%D3P%=>3=%=>?%!%8D=%
;7=:6?%7E%67;D:<;3=:7;%I3P%L?%3667IQC:D>?9%4*0"-+,($'"4-5%
O:=>%=>?%=?;9?8%7E%Q3PI?;=S%";%=>?%d,-$(k"$-,%63D?R%+.'%
C?==?8D%O?8?%D?;=%=7%=>?%68?9:=78R%O>:6>%3D:9?%E87I%7EE?8:;<%
=>?%Q8:6?R%?ZQ8?DDCP%39F:D?9%=>3=R%:E%;7%3;DO?8%=>?8?=7%O3D%
8?6?:F?9R% =>?% Q87Q?8% WH9:6:3C% 36=:7;% O7HC9% L?% :;D=:=H=?9S%
MJ]
%
58=S%/J1]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
+7O?F?8R% :=% O7HC9% L?% L?==?8% =7% D=3=?% :;% DH6>% !%8D=% ;7=:6?%
=>?%E7CC7O:;<G
/4%
=>3=% =?;9?8% >39% L??;% I39?% 2H;C?DD% ?Z6HD?94% 7;% 3%
DQ?6:!%?9%93=?e
J4%
=>3=%=?;9?8%>3D%L??;%H;WHD=:!%3LCP%8?W?6=?9e
K4%
=>3=%9?Q7D:=%:;%67H8=%:D%L?:;<%67;=?IQC3=?9%3=%3%6?8=3:;%
DQ?6:!%?9%93=?%3;9%3=%3%6?8=3:;%DQ?6:!%?9%67H8=S%7S&/',%
19%O'!$k=%c[8e%NX%CUBUAX=%Y"(9%:<=%:>B@?9
2?4% *>?% ;7=:6?R% >7O?F?8R% :D% -&*% ?DD?;=:3C% :E% =>?% DHI% =7% L?%
9?Q7D:=?9%:D%=>?%DHI%9H?%H;9?8%3%!%;3C%WH9<I?;=S%78#k,J,%
19%X"06,',=%>:%K/*-9%@>>?9
2E4%
!7;D:<;3=:7;%Q8?DHQQ7D?D%=>?%?Z:D=?;6?%7E%3%4"*+%=7%67IQ?C%
=>?%68?9:=78%=7%366?Q=S%c:=>7H=%3%DH:=R%=>?8?%63;%L?%('%67;V
D:<;3=:7;R%3;9%=>?8?E78?%;7%9:D6>38<?S%7E-%`'J,#%H*-*!*('%
19%8(J$-$4=%OA::;:P=%D$!+9%PU=%:>B<?9
&
&
\9".#*a#@&0(&#"2&12&!272
O/&=<C=<@&A#*2&P@&CDEP
%
%
H8[WDG%8%:D%=>?%8?<:D=?8?9%7O;?8%7E%3%Q386?C%7E%C3;9%
67F?8?9%LP%3;%78:<:;3C%6?8=:!%63=?%7E%=:=C?%:DDH?9%QH8DH3;=%
=7%3%E8??%Q3=?;=S%+?%D7C9%D3:9%Q386?C%=7%Z%3;9%LP%F:8=H?%7E%
=>?% D3C?R% =>?% 78:<:;3C% =:=C?% O3D% 63;6?CC?9% 3;9% 3% ;?O% 7;?%
:DDH?9%:;%E3F78%7E%Z9%5%P?38%C3=?8R%8%DH?9%Z%:;%=>?%!7H8=%7E%
):8D=%";D=3;6?%2;7O%@?<:7;3C%*8:3C%!7H8=4%=7%67IQ?C%Z%=7%
3CC7O%8%=7%8?9??I%D3:9%C7=%H;9?8%.?6S%//d%7E%!7IS%56=%/M/%
2,HLC:6%$3;9%56=4S%*>?%=8:3C%67H8=%9?6C38?9%=>3=%8%>3D%=>?%
C?<3C%8:<>=%=7%?Z?86:D?%D3:9%8:<>=%3=%=>?%78:<:;3C%QH86>3D?%
Q8:6?% O:=>% :;=?8?D=DS% *>?% !7H8=% 7E% 5QQ?3CD% 8?F?8D?9% =>?%
=8:3C%67H8=_D%9?6:D:7;%7;%=>?%<87H;9%=>3=%8%E3:C?9%=7%67;D:<;%
=>?%3I7H;=%9H?%3=%=>?%=:I?%=>?P%!%C?9%=>?%67IQC3:;=R%D3PV
:;<%=>3=%=>?%36=%7E%I?8?CP%!%C:;<%=>?%67IQC3:;=%7;%=>?%Q38=%
7E% 8% O:=>7H=% 67;D:<;3=:7;% 7E% =>?% Q87Q?8% 3I7H;=% O:=>:;%
=>?% Q?8:79% Q8?D68:L?9% O3D% 3;% :;?EE?6=:F?% 3;9% :;67IQC?=?%
8?9?IQ=:7;S
%
%
`EOIG%*>?%6'(,%!%)$%=?;9?8%7E%=>?%8?9?IQ=:7;%Q8:6?%
78%:=D%?XH:F3C?;=%Y%67;D:<;3=:7;%7E%D3:9%Q8:6?%:;%67H8=%Y%:D%
;7=%?DD?;=:3C%78%;?6?DD38P%D:;6?%=>?%!%C:;<%7E%=>?%36=:7;%:=D?CE%
:D%?XH:F3C?;=%=7%3%E78I3C%7EE?8%=7%8?9??IS
MJ0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J1]
X=Y& b)94(S&/0_9%$%(0&m&7'(9#"&L08)$%(&R%(S&(S0&H4)804&A9;
6%'%#"&79(S)4%(%0$
234% "=%:D%H;9?8D=779%=>3=%L?E78?%3%9?Q7D:=%:D%I39?R%3%67IQC3:;=%
3<3:;D=%=>?%68?9:=78%=7%67IQ?C%>:I%=7%366?Q=%>3D%=7%L?%!%8D=%
!%C?9%:;%67H8=S
2L4% *>?%67;D:<;3=:7;%IHD=%L?%I39?%Y
264%
/4%
LP% 9?Q7D:=:;<% =>?% F?8P% 7LW?6=% =>3=% :D% 9H?% 23;9% ;7=%
3;7=>?84%7[,6#$#,%19%O'!$k=%<@%K/*-9%<P@?h
J4%
O:=>%=>?%!#'!$#%3")*&*,-%,"+/'#*+5%O>:6>R%:;%6?8=3:;%
63D?R%I3P%:;6CH9?%=>?%D>?8:EE%7H,6#'4%19%d*--,%8J"4+*(=%
:<%K/*-9%PP;?h
K4%
3667IQ3;:?9%LP%Q877E%=>3=%=?;9?8%>39%L??;%9HCP%I39?R%
H;C?DD%=?;9?8%:D%?Z6HD?9%78#+9%:QB<=%!,#9%:?h%3;9%=>3=%
!%8D=%;7=:6?%7E%=>?%67;D:<;3=:7;%>39%3C8?39P%L??;%D?;=%
78#+9%:QB<=%!,#9%:=%[*1*-%[')$?9
%
cVSWEG%*>?%WH9:6:3C%9?Q7D:=%7E%=>?%I7;?P%9H?%H;9?8%3%
!%(,-%3")J0$(+%97?D%;7=%8?XH:8?%;7=:6?D%=7%=>?%Q87Q?8%
:;=?8?D=?9%Q38=:?DS%78#k,J,%19%X"06,',=%>:%K/*-9%@>>%
,()%D,-1,(+$%19%_6*%[#"k=%<<%K/*-9%QP;?9e
E22$&+4%'2%+/$%)$!'4*+
/4%
*>?%Q87Q?8=P%:D%i*(%&"4+')*,%-$J*49j%7T,($3$#'%19%Z"5A
4'(%O,0!,=%;:%K/*-9%;;?h
J4%
5;9%O:CCR%=>?8?E78?R%L?%$F$0!+$)%E87I%,++,&/0$(+%3;9%
?Z?6H=:7;%7D!#*(J$#%19%S)-*(=%P%K/*-9%P@@%,()%QP%[9Y9=%
!9%PBC=%D$&9%:UC?h
K4%
bH=%:E%=>?%Q87Q?8=P%:D%!$#*4/,6-$%LP%;3=H8?R%=>?%67H8=%
I3P%789?8%=>?%D3C?%7E%=>?%Q87Q?8=P%7T,+"+$%19%[/$'(J%
Z''=%PC%K/*-9%PCQ?h
M4%
";%=>?%I?3;=:I?R%=>?%9?L=78R%LP%67;D:<;:;<%=>?%=>:;<R%
Q836=:63CCP% I3^?D% >:ID?CE% =>?% 3<?;=% 78% 8?6?:F?8% 7E%
=>?%67H8=R%Q38=:6HC38CP%:E%E78%D7I?%8?3D7;R%=>?%Q87QV
?8=P% 63;;7=% 36=H3CCP% L?% QC36?9% :;% =>?% >3;9D% 7E% =>?%
67H8=S%7T,+"+$%19%[/$'(J%Z''=%PC%K/*-9%PCQ?9%*>:D%:D%
Q38=:6HC38CP%=8H?%O>?;%=>?%7LW?6=%:;F7CF?9%:D%@(5$%
,@&,(@*BS%*>?%Q87Q?8%=>:;<%=7%97R%>7O?F?8R%:;%DH6>%
3%63D?%:D%=7%3D^%=>?%67H8=%E78%3%@(!("#(@.+",%7X$5$4%
MJd
%
58=S%/J1]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
,()%K"('=%S"+-*($%'2%K/*-*!!*($%[*1*-%O,.=%d'-9%@=%!!9%
:PUA:P:?=%L?63HD?%789:;38:CPR%H;C?DD%DH6>%9?Q7D:=%:D%
I39?R% Q3PI?;=% &,(('+% L?% I39?% 3;9% 67;D?XH?;=CPR%
=>?%7LC:<3=:7;%O7HC9%8?I3:;%:;%E786?S%7T,J4,54,5%19%
Z-,(&'=%BU%S9N9%::BQ?9%";9??9R%=>?%Q3PI?;=%O7HC9%L?%
F7:9S%7`,-*-*%19%O-'#$+=%>B%K/*-9%C<?9
&
&
G(2&L)5%*%'&!)482&12&37!
O/&<P?>P@&79.2&?<@&CDE=
%
%
c>?8?%=>?%67H8=_D%9?6:D:7;%D=3=?D%=>3=%=>?%L3CV
3;6?%7E%=>?%QH86>3D?%Q8:6?%IHD=%L?%I39?%O:=>:;%NU%
93PD%E87I%8?6?:Q=%>?8?7ER%=>?%WH9<I?;=%9?L=78%IHD=%
Q3P%=>?%3I7H;=%O:=>:;%3%8?3D7;3LC?%=:I?%=>?8?3E=?8%
3;9%;7=%E87I%=>?%=:I?%=>?%WH9<I?;=%L?67I?D%!%;3CS
%
%
"E%=>?%WH9<I?;=%68?9:=78%8?EHD?D%=7%8?6?:F?%=>?%
Q3PI?;=R%=>?%Q87Q?8%Q876?9H8?%:D%E78%=>?%WH9<I?;=%
9?L=78%=7%67;D:<;%=>?%D3I?%O:=>%=>?%67H8=%3CD7%O:=>:;%
=>?%NUV93P%Q?8:79%78%O:=>:;%3%8?3D7;3LC?%=:I?%=>?8?3EV
=?8S%*>?%E36=%=>3=%=>?%WH9<I?;=%9?L=78%=8:?9%=7%8?36>%
3;%3<8??I?;=%O:=>%=>?%WH9<I?;=%68?9:=78%3E=?8%=>?%
Q87IHC<3=:7;%7E%=>?%9?6:D:7;%97?D%;7=%3EE?6=%=>?%!%;3CV
:=P%7E%=>?%WH9<I?;=S
X<Y& b%+(S&/0_9%$%(0&m&G9-$0_90*(&)4&G0')*6&K)(%'0&XV#60&
7+(04&(S0&L08)$%(Y
234% *>:D%:D%8?XH:8?9%LP%=>?%C3O%O>:6>%D3PDG%`*>?%67;D:<;3=:7;%
>3F:;<%L??;%I39?R%=>?%:;=?8?D=?9%Q38=:?D%D>3CC%L?%;7=:!%?9%
=>?8?7ESa%78#+9%:QB<=%!,#9%Q=%[*1*-%[')$?9
2L4% *>:D%:D%I3;93=78P%3;9R%=>?8?E78?R%O:=>7H=%DH6>%DHLD?XH?;=%
;7=:6?R%=>?%67;D:<;3=:7;%:D%#&"'%7W*,'a"*%19%[/*(,%R(4"#A
,(&$% n% D"#$+5% ['9=% R(&9=% c[8e% @B% S9N9% QBB<?% H;C?DD% =>?%
3I7H;=%9H?%:D%3D%3%67;D?XH?;6?%7E%3%)"-5$%gi'hA(-*R%
:;3DIH6>%3D%=>?%C3O%8?E?8D%7;CP%=7%3%67;=836=H3C%9?L=R%;7=%
=7%7;?%9?68??9%LP%=>?%67H8=S%7D,-1,(+$%19%_6*%[#"k=%<<%K/*-9%
QP;%,()%8#k,J,%19%X"06,',=%>:%K/*-9%@>>?9
264%
HSXTG%"=%O7HC9%L?%39F:D3LC?%=7%:DDH?%3%E78I3C%;7=:6?e%>7OV
?F?8R%:=%>3D%L??;%>?C9%=>3=%=>?%I?8?%!%C:;<%7E%=>?%67IQC3:;=%
3;9%=>?%4$#1*&$%'2%4"00'(4%7;%=>?%9?E?;93;=V68?9:=78R%,&A
MKU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%/J10V/J1d
&'0!,(*$)%65%,%&'!5%'2%+/$%&'0!-,*(+=%&,(%+,L$%+/$%!-,&$%
'2%4,*)%4$&'()%('+*&$9%78()#$4%19%['"#+%'2%8!!$,-4=%@C%S9N9%
Q<C;h% O*0L,L'% 19% W$')'#'=% C@% K/*-9% P:P% ,()% I"(J,'% 19%
X'a"$=%OA@:@UA@:@:=%I$&9%Q>=%:>B:?9
&
74(2&C?=E2&!)*$%.*#(%)*&$S#""&-0&5#60&-Q&608)$%(%*.&(S0&
(S%*.$&690&#(&(S0&6%$8)$#"&)+&U96%'%#"&#9(S)4%(Q@&-0+)40&RS)5&
(S0&(0*604&)+&8#Q50*(&$S#""&-0&84)106@&%*&#&84)804&'#$0@&#*6&
(S0&#**)9*'050*(&)+&(S0&')*$%.*#(%)*&%*&)(S04&'#$0$2
&
MS0&')*$%.*#(%)*&S#1%*.&-00*&5#60@&(S0&%*(040$(06&8#4;
(%0$&$S#""&#"$)&-0&*)(%!&06&(S040)+2
!,VVJKMW
&
\)R&!)*$%.*#(%)*&3$&7'(9#""Q&V#60
234% *>?%=>:;<D%9H?%IHD=%L?%9?Q7D:=?9%O:=>%=>?%Q87Q?8%WH9:6:3C%
3H=>78:=:?D%2O>:C?%789:;38:CP%=>?%63D>:?8%78%=>?%63D>%7E!%6?8%
D>7HC9% L?% =>?% Q?8D7;% =7% :DDH?% =>?% 8?6?:Q=% E78% =>?% I7;?P%
67;D:<;?9R%3%=?IQ7838P%8?6?:Q=%:DDH?9%LP%=>?%6C?8^%7E%67H8=%
E78%D3:9%9?Q7D:=%O7HC9%DHE!%6?4S%7D$$%f,!%19%W*(J*(=%OA:<>@P=%
T,5%P:=%:>;P?9
2L4% *>?8?%IHD=%L?%,@&&)%=>3=G
/4%
=?;9?8%>39%Q8?F:7HDCP%L??;%I39?%2<?;?83C%8HC?4e
J4%
78%=>3=%=>?%68?9:=78%>39%Q8?F:7HDCP%;7=:!%?9%=>?%9?L=78%
=>3=%67;D:<;3=:7;%O:CC%L?%I39?%2:;%63D?%=?;9?8%:D%('+%
8?XH:8?94S
&
74(2&C?=D2&MS0&0`80*$0$&)+&')*$%.*#(%)*@&RS0*&84)804"Q&
5#60@&$S#""&-0&'S#4.06&#.#%*$(&(S0&'406%()42
!,VVJKMW
XCY& !406%()4&O0*04#""Q&()&N0#4&J`80*$0$&)+&!)*$%.*#(%)*
%
%
@?3D7;%O>P%=>?%68?9:=78%Q3PD%=>?%?ZQ?;D?D%7E%=>?%67;D:<V
;3=:7;% :E% !#'!$#-5% I39?G% !C?38CPR% =>:D% 67;D:<;3=:7;% :D% 9H?% =7%
=>?%&#$)*+'#\4%2,"-+R%E78%>39%>?%366?Q=?9R%=>?8?%O7HC9%;7=%>3F?%
L??;%3;P%;??9%E78%=>?%67;D:<;3=:7;S%"E%;7=%Q87Q?8CP%I39?R%=>?%
67;D:<;3=:7;%?ZQ?;D?D%38?R%7E%67H8D?R%6>38<?3LC?%=7%=>?%9?L=78S
MK/
%
58=S%/JNU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X?Y& MS0&J`80*$0$
%
%
*>?%?ZQ?;D?D%:;6CH9?%=>7D?%E78%=>?%Q8?D?8F3=:7;%78%O38?V
>7HD:;<%7E%=>?%<779D%Q?;9:;<%C:=:<3=:7;S%7T,+"+$%19%[/$'(J%Z''=%
PC%K/*-9%PCQ?9
%
&
74(2& C?<>2& ,*'0& (S0& ')*$%.*#(%)*& S#$& -00*& 69"Q& 5#60@&
(S0&60-()4&5#Q&#$T&(S0&U96.0&()&)4604&(S0&'#*'0""#(%)*&)+&(S0&
)-"%.#(%)*2
&
N0+)40& (S0& '406%()4& S#$& #''08(06& (S0& ')*$%.*#(%)*@& )4&
-0+)40&#&U96%'%#"&60'"#4#(%)*&(S#(&(S0&')*$%.*#(%)*&S#$&-00*&
84)804"Q&5#60@&(S0&60-()4&5#Q&R%(S64#R&(S0&(S%*.&)4&(S0&$95&
608)$%(06@&#"")R%*.&(S0&)-"%.#(%)*&()&405#%*&%*&+)4'02
!,VVJKMW
XCY& J++0'($&%+&!)*$%.*#(%)*&\#$&N00*&L9"Q&V#60
&
%
"E%=>?%67;D:<;3=:7;%:D%'i$B%2Q87Q?8CP4%I39?G
234% *>?%9?L=78%I3P%3D^%=>?%WH9<?%=7%789?8%=>?%&,(&$--,+*'(%7E%
=>?%7LC:<3=:7;S
2L4% *>?%8H;;:;<%7E%:;=?8?D=%:D%DHDQ?;9?9S
264%
+7O?F?8R% :=% D>7HC9% L?% 7LD?8F?9% =>3=% L?E78?% =>?% 68?9:=78%
5!!(,*.R%78%L?E78?%=>?%WH9<?%9?6C38?D%=>3=%67;D:<;3=:7;%
>3D%L??;%,@&,(@$B%A5'(R%=>?%7LC:<3=:7;%@(A5"-.S%
7K,)",%19%X*k,-%D"#$+5=%@C%S9N9%D"!!9%V'%:Q=%!9%PU<?9
%
%
cVSWEG% -7% WH9:6:3C% 3QQ87F3C% :D% ;??9?9% :E% 5$$% =>?%
?DD?;=:3C%8?XH:D:=?D%E78%3%F3C:9%67;D:<;3=:7;%38?%Q8?D?;=S%
*>:D%:D%Q38=:6HC38CP%=8H?%O>?;%=>?%9?Q7D:=%3;9%=>?%8?6789D%
7E% =>?% 63D?% 38?% 366:9?;=3CCP% 9?D=87P?9R% LH=% =>?8?% :D% -&%
8?3D7;%D>7O;%O>P%=>?%67;D:<;3=:7;%D>7HC9%L?%67;D:9?8?9%
:IQ87Q?8S%7D*,%19%['"#+%'2%8!!$,-4=%>Q%K/*-9%PPB?9e
X?Y& /%$T&)+&:)$$
&
%
"E%=>?%67;D:<;3=:7;%:D%WH9:6:3CCP%3QQ87F?9%&@%:E%3CC%=>?%?DV
D?;=:3C%8?XH:D:=?D%38?%Q8?D?;=%&@%:E%=>?%68?9:=78%>3D%D:<;:!%?9%
>:D%366?Q=3;6?R%=>?%68?9:=78%L?38D%=>?%C7DDe%7=>?8O:D?R%:=%:D%=>?%
9?L=78%O>7%L?38D%=>?%LH89?;S%7D$$%D*,%19%['"#+%'2%8!!$,-4=%>Q%
MKJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JNU
K/*-9% PPBh% 4$$% ,-4'% [/",% b,5% 19% O*0% [/,(J=% OAB>>B=% T,5% :<=%
:>B;?9
XBY& J++0'($&)+&3584)804&!)*$%.*#(%)*
234% "E%=>?%67;D:<;3=:7;%O3D%*0!#'!$#-5%I39?R%=>?%7LC:<3=:7;%
8?I3:;DR% L?63HD?% =>?% 67;D:<;3=:7;% :D% -&*% ())(!*"#(%
3D%3%Q3PI?;=S%7Z#,1'%19%Z,##$#,4=%>Q%K/*-9%;C>?9
2L4% "E%3=%=>?%=:I?%7E%67;D:<;3=:7;%=>?%9?L=%O3D%3C8?39P%9H?R%
3;9%=>?%8?XH:D:=?D%E78%67;D:<;3=:7;%38?%3LD?;=R%=>?%9?L=78%
:D%:;%'()5i$*S
XFY& J++0'(&)+&L%$5%$$#"&)+&(S0&!#$0
%
%
"E%=>?%63D?%:;%O>:6>%67;D:<;3=:7;%O3D%I39?%:D%9:DI:DD?9%LP%
=>?%67H8=R%=>?%67;D:<;3=:7;%;3=H83CCP%O7HC9%Q879H6?%-&%?EE?6=S%
7Z#,1'%19%Z,##$#,4=%>Q%K/*-9%;C>?9
%
%
cVSWEG%*>?%D3I?%=>:;<%8?DHC=D%:E%=>?8?%:D%E3:CH8?%=7%8?67;V
D=:=H=?%=>?%63D?R%E78%>?8?%=>?8?%O7HC9%L?%c5"#(@S%7d,-$(k"$-,%19%
I$%8a"*('=%OAQQ;Q=%8"J9%P:=%:>@>%,()%[/",%b,5%19%O*0%[/,(J=%
OAB>>B=%T,5%:<=%:>B;?9e
X=Y& c904Q
&
%
.HQQ7D?% 7;?% 7E% =>?% ?DD?;=:3C% 8?XH:D:=?D% E78% 67;D:<;3=:7;%
:D%;7=%Q8?D?;=R%I3P%=>?%9?L=78%3D^%E78%=>?%63;6?CC3=:7;%7E%=>?%
7LC:<3=:7;f
%
%
8VD9G%B?DR%Q87F:9?9%=>?%68?9:=78%97?D%;7=%7LW?6=S%*>:D%O7HC9%
>3F?%=>?%?EE?6=%7E%3%O3:F?8S%7D$$%O*0L,L'%19%W$')'#'=%C@%K/*-9%
P:P?9
X<Y& ZS0*& L0-()4& V#Q& Z%(S64#R& (S0& MS%*.& )4& G95& !)*;
$%.*06&
234% 5D%3%I3==?8%7E%#*J/+G
/4%
6$2'#$%=>?%68?9:=78%>3D%366?Q=?9%=>?%67;D:<;3=:7;%7D$$%
N,06',%19%W,(=%OA:CUC;=%Y,(9%Q>=%:>;Q?h
J4%
78%L?E78?%=>?8?%:D%3%WH9:6:3C%9?6C383=:7;%=>3=%=>?%67;D:<V
;3=:7;%>3D%L??;%Q87Q?8CP%I39?S%2+?8?R%=>?%7LC:<3=:7;%
3;9%=>?%366?DD78P%D=:QHC3=:7;D%#$0,*(S4
MKK
%
58=S%/JN/
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
2VSWEG%*>?%8:<>=%:D%<:F?;%=>?%9?L=78%L?63HD?%>?%D=:CC%
'.(4%=>?%=>:;<e%>7O?F?8R%>?%L?38D%=>?%?ZQ?;D?DS%*>?%67V
9?L=78DR%<H383;=78DR%3;9%DH8?=:?D%&,(('+%7LW?6=S4
2L4% 5D%3%I3==?8%7E%!#*1*-$J$G
%
%
c>?;% 3E=?8% 67;D:<;3=:7;% >39% L??;% !#'!$#-5% I39?%
2=>?%68?9:=78%>3F:;<%366?Q=?9%'#%+/$%&'"#+%/,1*(J%)$&-,#$)%
*+%!#'!$#?=%=>?%&#$)*+'#%,"+/'#*k$4%=>?%9?L=78%=7%O:=>983O%
=>?%=>:;<S%78#+9%:Q;:=%[*1*-%[')$?9
XPY& c904Q
&
%
+7O%63;%=>?%68?9:=78%Q8?F?;=%=>?%9?L=78%E87I%?Z?86:D:;<%
=>?%@"h+*%=7%O:=>983O%=>?%=>:;<%67;D:<;?9f
%
%
8VD9G%bP%:II?9:3=?CP%366?Q=:;<%=>?%67;D:<;3=:7;%O:=>%78%
O:=>7H=%8?D?8F3=:7;DS%"E%>?%366?Q=D%O:=>7H=%8?D?8F:;<%>:D%8:<>=%=7%
EH8=>?8%6C3:ID%DH6>%3D%93I3<?DR%=>:D%O7HC9%L?%3%63D?%7E%c5"#(@S%
7D*(J%Y"&'%19%[",5&'(J=%@;%K/*-9%<:?9
&
74(2& C?<C2& 3+@& (S0& ')*$%.*#(%)*& S#1%*.& -00*& 5#60@& (S0&
'406%()4&$S)9"6&#9(S)4%a0&(S0&60-()4&()&R%(S64#R&(S0&$#50@&S0&
$S#""&")$0&0104Q&840+040*'0&RS%'S&S0&5#Q&S#10&)104&(S0&(S%*.2&
MS0&');60-()4$@&.9#4#*()4$&#*6&$940(%0$&$S#""&-0&40"0#$062&
!,VVJKMW
XCY& Z%(S64#R#"& -Q& L0-()4& 7+(04& !)*$%.*#(%)*& \#$& N00*&
V#60
&
%
i;9?8%=>:D%58=:6C?R%=>?%67;D:<;3=:7;%>3D%3C8?39P%L??;%I39?%
2=>3=%:DR%=>?%68?9:=78%>3D%366?Q=?9e%78%=>?%67H8=%>3D%3QQ87F?9%
=>?%67;D:<;3=:7;4S%*>?%O:=>983O3C%LP%=>?%9?L=78%:D%3%I3==?8%7E%
,@"#"$(h(S
X?Y& J++0'($
234% *>?%7LC:<3=:7;%#$0,*(49
2L4% *>?% 68?9:=78% C7D?D% 3;P% Q8?E?8?;6?% 2Q8:78:=P4% 7F?8% =>?%
=>:;<S
264%
*>?%67V9?L=78DR%<H383;=78DR%3;9%DH8?=:?D%38?%@($(5.('%
2H;C?DD%=>?P%67;D?;=?94S
MKM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JN/
%
%
cVSWEG%*>?%67V9?L=78D%8?E?88?9%=7%38?%=>?%D7C:938P%67V
9?L=78DR%;7=%=>?%W7:;=%7;?DR%E78%=>?:8%C:3L:C:=:?D%38?%9:D=:;6=S%
7<%T,(#$4,%P@@?9e
%
%
2VSWEG%@?<389:;<%=>?%D7C:938P%67V9?L=78DR%=>?P%38?%
8?C?3D?9%7;CP%E87I%=>?%D7C:938:=PR%('+%2#'0%+/$*#%'.(%*()*A
1*)",-%4/,#$4=%D:;6?%H;C:^?%<H383;=78D%78%DH8?=:?DR%=>?%D7C:V
938P%67V9?L=78D%38?%:;%=>?ID?CF?D%,@"-!",5$%9?L=78DS4
G0'(%)*&?
:,GG&,b&M\J&M\3KO&LIJ
3KM/,LI!M,/g&!,VVJKMW
XCY& ZS#(&[:)$$]&3*'"960$
&
%
`$7DDa%H;9?8%=>:D%.?6=:7;%:;6CH9?D%`:IQ7DD:L:C:=P%7E%Q?8E78IV
3;6?Sa
X?Y& ZS0*&3$&MS040&#&:)$$
234% O>?;%=>?%7LW?6=%Q?8:D>?D%2Q>PD:63CCPR%:=%:D%9?D=87P?94
2L4% O>?;%:=%<7?D%7H=%7E%67II?86?
264%
O>?;%:=%9:D3QQ?38D%:;%DH6>%3%O3P%=>3=
/4%
:=D%?Z:D=?;6?%:D%H;^;7O;
J4%
78% :=% 63;;7=% L?% 8?67F?8?9S% 78#+9% ::<>=% V'9% Q=% [*1*-%
[')$?9
XBY& ZS#(&358)$$%-%"%(Q&)+&H04+)45#*'0&3*'"960$
234% Q>PD:63C%:IQ7DD:L:C:=P
2L4% C?<3C%:IQ7DD:L:C:=PR%O>:6>%:D%?:=>?8G
264%
/4%
)*#$&+-5%63HD?9%3D%O>?;%Q87>:L:=?9%LP%C3O
J4%
78%*()*#$&+-5%63HD?9%3D%O>?;%=>?%9?L=78%:D%8?XH:8?9%
=7%?;=?8%3%0*-*+,#5%)#,2+
I783C%:IQ7DD:L:C:=P%2:IQ836=:63L:C:=P4S%7D$$%8#+9%:Q;C=%[*1*-%
[')$?9
MK1
%
58=S%/JN/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
&
7$%#&N06&b#'()4Q&12&K#(%)*#"&N06&
Z)4T04d$&I*%)*@&0(&#"2
:;DC?<@&A#*2&BC@&CD=P
&
%
H8[WDG% *>?% 67IQ3;P% 3;9% :=D% ?IQC7P??DR% :;% 3% 67CC?6=:F?%
3<8??I?;=R% 3<8??9% =>3=% `?IQC7P??D% D>3CC% L?% Q87F:9?9% O:=>%
O78^%7;%.H;93PD%3=%=:I?%3;9%3%>3CE%2/1Uk%O3<?D4e%3;9%=>3=%:;%
=>?%?F?;=%('%O78^%7;%.H;93PD%:D%3F3:C3LC?%=>8H%;7%2,"-+%'2%+/$%
$0!-'5$$4=%=>?P%D>3CC%L?%Q3:9%=>?%?XH:F3C?;=%7E%=>?:8%O3<?D%3D%:E%
=>?P%>39%Q?8E78I?9%O78^%E78%=>3=%93PSa%*>8??%I7;=>D%C3=?8%=>?%
bCH?%.H;93P%$3O%O3D%Q3DD?9R%!#'/*6*+*(J%.'#L%7;%.H;93PDS%*>?%
?IQC7P??D%67;=?;9?9%=>?P%D>7HC9%;?F?8=>?C?DD%L?%Q3:9%7;%.H;V
93PD%Y%D:;6?%=>:D%Q87>:L:=:7;%LP%=>?%C3O%O3D%('+%+/$*#%2,"-+9
%
%
`EOIG% *>?% ?IQC7P??D% D>7HC9% ;7=% L?% Q3:9% L?63HD?% =>?%
67IQ3;P%O3D%Q87>:L:=?9%LP%C3O%=7%Q87F:9?%=>?I%O78^%7;%.H;V
93PDS% *>?% 67IQ3;P_D% 9H=P% =7% Q87F:9?% O78^% 7;% .H;93PD% .,4%
$F+*(J"*4/$)%65%+/$%-,.=%D7%:=%:D%H;E3:8%=7%8?XH:8?%:=%=7%Q3P%=>?%
?IQC7P??D% O>7% 3E=?8% 3CC% O7HC9% ;7=% L?% O78^:;<% 7;% D3:9% 93PDS%
";9??9R%=>?%7LC:<3=:7;%7E%=>?%?IQC7P?8%=7%EH8;:D>%O78^%L?63I?%
3%C?<3C%:IQ7DD:L:C:=PS
&
&
\)9$0&12&G%`()&60&"#&!)$(#
<E&HS%"2&PF?
&
%
H8[WDG% +7HD?% DH?9% bHD>R% 3;9% Q?;9:;<% 9?6:D:7;% +7HD?%
7L=3:;?9%3;%3==36>I?;=%7E%bHD>_D%Q87Q?8=PS%bHD>%63;6?CC?9%=>?%
3==36>I?;=%LP%Q7D=:;<%3%,JRUUU%L7;9R%D?6H8?9%LP%3%.H8?=P%!7IV
Q3;PS%*>?%L7;9%D=:QHC3=?9%=>3=%D>7HC9%bHD>%C7D?R%bHD>%O7HC9%
8?=H8;%=>?%Q87Q?8=P%=7%=>?%D>?8:EER%3;9%:E%bHD>%O7HC9%;7=%97%D7R%
=>?%.H8?=P%!7IQ3;P%O7HC9%L?%C:3LC?S
%
%
.HLD?XH?;=CPR% LP% F:8=H?% 7E% 3;% 3<8??I?;=R% bHD>% =H8;?9%
7F?8%=7%+7HD?%=>?%Q87Q?8=P%Q8?F:7HDCP%3==36>?9R%D3:9%Q87Q?8=P%
=7%L?%D7C9%3=%3%QHLC:6%3H6=:7;S%";%D3:9%3H6=:7;R%+7HD?%QH86>3D?9%
=>?%Q87Q?8=PS%$3=?8%=>?%Q?;9:;<%63D?%O3D%=?8I:;3=?9R%3;9%=>?%
=8:3C%67H8=%3O389?9%+7HD?%=>?%DHI%7E%,JRUUUS%+7HD?%O3;=?9%=>?%
I7;?P%E87I%bHD>R%LH=%D:;6?%bHD>%67HC9%;7=%Q3PR%+7HD?%DH?9%
=>?%.H8?=P%!7IQ3;P%E78%D3:9%3I7H;=S%*>?%=8:3C%67H8=R%Q8?D:9?9%
7F?8%LP%gH9<?%.:Z=7%9?%C3%!7D=3R%D3:9%=>3=%=>?%.H8?=P%!7IQ3;P%
O3D%;7=%C:3LC?%3;PI78?%L?63HD?%=>?%L7;9%67HC9%;7=%L?%67IQC:?9%
O:=>%2=>?%<:F:;<%7E%=>?%Q87Q?8=P%=7%=>?%D>?8:EE4%D:;6?%+7HD?%O3D%
MKN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JNJ
3C8?39P%=>?%7O;?8%7E%=>?%Q87Q?8=Pe%3;9%=>3=%:=%O3D%+7HD?_D%36=%
7E%QH86>3D:;<%=>?%Q87Q?8=P%=>3=%Q8?F?;=?9%67IQC:3;6?%O:=>%=>?%
=?8ID%7E%=>?%L7;9S%+7HD?%=>?;%L87H<>=%=>:D%36=:7;S%'?6:9?S
%
%
`EOIG%*>?%=8:3C%WH9<?%O3D%6788?6=S%*>?%.H8?=P%!7IQ3;P%
67HC9%>3F?%L??;%>?C9%C:3LC?%>39%;7=%=>?%Q?=:=:7;?8%+7HD?%Q8?V
F?;=?9%67IQC:3;6?%O:=>%=>?%=?8ID%7E%=>?%L7;9%LP%>:D%7O;%36=%7E%
QH86>3D:;<%=>?%Q87Q?8=PS%bH=%D:;6?%+7HD?%9:9%=>:DR%>?%63;;7=%
8?67F?8%E87I%D3:9%.H8?=P%!7IQ3;PS
&
74(2&C?<?2&7*&)-"%.#(%)*&RS%'S&')*$%$($&%*&(S0&60"%104Q&)+&
#&60(045%*#(0&(S%*.&$S#""&-0&0`(%*.9%$S06&%+&%(&$S)9"6&-0&")$(&
)4&60$(4)Q06&R%(S)9(&(S0&+#9"(&)+&(S0&60-()4@&#*6&-0+)40&S0&
S#$&%*'94406&%*&60"#Q2
&
ZS0*&-Q&"#R&)4&$(%89"#(%)*@&(S0&)-"%.)4&%$&"%#-"0&010*&+)4&
+)4(9%()9$& 010*($@& (S0& ")$$& )+& (S0& (S%*.& 6)0$& *)(& 0`(%*.9%$S&
(S0&)-"%.#(%)*@&#*6&S0&$S#""&-0&40$8)*$%-"0&+)4&6#5#.0$2&MS0&
$#50&49"0&#88"%0$&RS0*&(S0&*#(940&)+&(S0&)-"%.#(%)*&40_9%40$&
(S0&#$$958(%)*&)+&4%$T2&
!,VVJKMW
XCY& MR)&k%*6$&)+&,-"%.#(%)*$&[M)&O%10]
%
%
5;%7LC:<3=:7;%=7%<:F?%I3P%67;D:D=%7E%3;%7LC:<3=:7;G
234% =7%<:F?%3%J$($#*&%=>:;<e
2L4% 78%=7%<:F?%3%4!$&*!%&%=>:;<S
%
%
cVSWEG%*>?%!%8D=%:D%-&*%?Z=:;<H:D>?9%LP%C7DD%78%LP%
3% E78=H:=7HD% ?F?;=% L?63HD?% `<?;HD% ;?F?8% Q?8:D>?DSa% 78#+9%
:Q;P=%[*1*-%[')$?9e
X?Y& J++0'(& )+& :)$$& )*& #*& ,-"%.#(%)*& ()& L0"%104& #& G80'%!&'&
MS%*.
234% N$($#,-%#"-$%Y%=>?%7LC:<3=:7;%:D%?Z=:;<H:D>?9S
%
%
[VSWEG%*>?%C7DD%IHD=%L?%,2+$#%=>?%7LC:<3=:7;%>3D%L??;%
:;6H88?9R%L?63HD?%:E%=>?%C7DD%>39%L??;%KXRSXR%=>?8?%O7HC9%
;7=%L?%3;P%DHLW?6=%I3==?8%3;9%=>?8?E78?%=>?8?%O7HC9%('+%
>3F?%L??;%3;P%7LC:<3=:7;%3=%3CCS\
MK]
%
58=S%/JNJ
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
cVSWEG%"E%=>?%I78=<3<?9%Q87Q?8=P%:D%C7D=R%=>?%I78=<3V
<78%L?:;<%=>?%7O;?8%7E%:=%L?38D%=>?%C7DD%7#$4%!$#*+%)'0*('?S%
+?%:DR%7E%67H8D?R%D=:CC%C:3LC?%E78%=>?%9?L=R%D:;6?%=>:D%7LC:<3V
=:7;%:D%I7;?=38PR%3;9%=>?8?E78?%I3P%L?%D3:9%=7%L?%<?;?8:6%
:;% 6>3836=?8S% 7M,#($#=% Z,#($4% n% ['9% 19% H-'#$4=% OA:QPCC=%
T,#9%Q>=%:>;:%,()%O,.5$#4%[''!$#,+*1$%K"6-*4/*(J%['9%19%
W,6'#,=%OAQ:Q;P=%8!#9%PU=%:>;B?9e
2L4% EF&$!+*'(4G
%
%
%
*>?% 7LC:<3=:7;% :D% ('+% ?Z=:;<H:D>?9% :;% =>?% E7CC7O:;<%
63D?DG
/4%
:E% =>?% 9?L=78% :D% 3=% E3HC=% 78#+9% :Q;Q=% !,#9% :=% [*1*-%
[')$?h
J4%
O>?;%=>?%9?L=78%:D%I39?%C:3LC?%E78%3%2'#+"*+'"4%$1$(+%
L?63HD?G
34%
7E%3%!#'1*4*'(%'2%-,.h
L4%
7E%3%&'(+#,&+",-%4+*!"-,+*'(h
64%
=>?%;3=H8?%7E%=>?%7LC:<3=:7;%8?XH:8?D%=>?%,44"0!A
+*'(%'2%#*4L%7;%=>?%Q38=%7E%=>?%)$6+'#S
%
2VSWEG%&E%67H8D?%:;%=>?%3L7F?VI?;=:7;?9%63D?DR%=>?%
7LC:<3=:7;%=7%9?C:F?8%=>?%DQ?6:!%6%=>:;<%:=D?CE%:D%?Z=:;<H:D>?9%
E78%=>?8?%:D%;7%I78?%=>:;<%=7%L?%<:F?;S%bi*%D3:9%7LC:<3=:7;%
:D%&'(1$#+$)%:;=7%3%A&-(*5@B%&b$"h5*"&-%)&@%'5AV
5h(.S%"=%:D%:;%=>:D%D?;D?%=>3=%O?%D3P%=>3=%=>?%`7LC:<3=:7;a%
8?I3:;DS4
XBY& ZS0*&!"#%5&)+&:)$$&V9$(&N0&V#60
%
%
"E%H;9?8%=>?%=?8ID%7E%3%67;=836=%3%6C3:I%E78%C7DD%78%93I3<?%
27E%<779D%6388:?9%7;%3%F?DD?C4%IHD=%L?%I39?%7;CP%,2+$#%=>?%93=?%
7E%9:D6>38<?%7E%=>?%C3D=%Q36^3<?%E87I%=>?%6388P:;<%F?DD?C%Y%O:CC%
3%6C3:I%6$2'#$%DH6>%93=?%7E%9:D6>38<?%L?%8?<389?9%3D%Q8?I3=H8?%
3;9%DQ?6HC3=:F?f
%
%
"=%9?Q?;9DG
234% *>?%6C3:I%:D%Q8?I3=H8?%3;9%DQ?6HC3=:F?%*2%0,)$%.*+/'"+%
6,4*49
2L4% *>?%6C3:I%O7HC9R%>7O?F?8R%L?%Q87Q?8%:E%=>?%6C3:I%O3D%I39?%
6$&,"4$%'2%!#*'#%*(2'#0,+*'(%'#%)*4&'1$#5%'2%4/'#+,J$%'2%'#%
MK0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JNK
),0,J$%+'%+/$%J'')49%7V$.%`,0!4/*#$%H*#$%R(4"#,(&$%['9%
19%T,(*-,%K'#+%D$#1*&$=%$+%,-9=%OAQU>P<=%8"J9%>=%:>;;h%D.*+A
k$#-,()%N$($#,-%R(4"#,(&$%['9%19%T,(*-,%X,*-#',)%['9%n%
T,(*-,%K'#+%D$#1*&$=%OAQQ:BU=%8!#9%QQ=%:>;<%,()%R(4"#,(&$%
['9%'2%V'#+/%80$#*&,%19%T,(*-,%K'#+%D$#1*&$=%OAQ@<<C=%8!#9%
QQ=%:>;<?9
XFY& J`#58"0$&)+&3*$(#*'0$&ZS0*&(S0&:#R&/0_9%40$&:%#-%"%(Q&
J10*&%*&(S0&!#$0&)+&#&b)4(9%()9$&J10*(
234% O>?;% =>?% 9?L=78% :D% :;% 9?E3HC=% 70'#,?% 78#+9% ::;B=% [*1*-%
[')$?h
2L4% O>?;%=>?%9?L=78%>3D%Q87I:D?9%=7%9?C:F?8%=>?%D3I?%=>:;<%
=7%=O7%78%I78?%Q?8D7;D%2Q38=:?D4%O>7%97%;7=%>3F?%=>?%D3I?%
:;=?8?D=%78#+9%::;B=%[*1*-%[')$?h
264%
O>?;%=>?%7LC:<3=:7;%38:D?D%E87I%3%68:I?S%78#+9%:Q;<=%[*1*-%
[')$?h
294% O>?;%3%L7887O?8%27E%3;%7LW?6=4%>3D%C?;=%=>?%=>:;<%=7%3;7=>?8%
O>7%:D%('+%3%I?IL?8%7E%>:D%7O;%>7HD?>7C9%78#+9%:>@Qc@e=%
[*1*-%[')$?h
2?4% O>?;%=>?%=>:;<%C73;?9%>3D%L??;%9?C:F?8?9%O:=>%,!!#,*4,-%
'2%+/$%1,-"$=%"(-$44%=>?8?%:D%3%D=:QHC3=:7;%?Z?IQ=:;<%=>?%
L7887O?8%E87I%8?DQ7;D:L:C:=P%:;%63D?%7E%3%E78=H:=7HD%?F?;=%
78#+9%:>@QcPe=%[*1*-%[')$?h
2E4%
O>?;%=>?%!,5$$%:;%4'-"+*'%*()$6*+*%:D%:;%6,)%2,*+/9%78#+9%Q:B>=%
[*1*-%[')$?9
&
74(2&C?<B2&3*&#*&)-"%.#(%)*&()&60"%104&#&.0*04%'&(S%*.@&(S0&
")$$&)4&60$(49'(%)*&)+&#*Q(S%*.&)+&(S0&$#50&T%*6&6)0$&*)(&0`;
(%*.9%$S&(S0&)-"%.#(%)*2&
!,VVJKMW
XCY& J++0'(&)+&:)$$&)*&,-"%.#(%)*&()&L0"%104&#&O0*04%'&MS%*.
&
%
*>?%7LC:<3=:7;%67;=:;H?D%=7%?Z:D=%L?63HD?%3%<?;?8:6%=>:;<%
97?D% ;7=% 8?3CCP% Q?8:D>% 2J$("4% ("(a",0% !$#*+% Y% iJ$("4% ;?F?8%
Q?8:D>?Da4S
MKd
%
58=S%/JNM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X?Y& J`'08(%)*$
234% "E% =>?% <?;?8:6% =>:;<% :D% 9?C:I:=?9% 2C:^?% `1U% ^:C7D% 7E% DH<38%
E87I%IP%/ddd%>38F?D=a%O>?;%DH6>%>38F?D=%:D%67IQC?=?CP%
9?D=87P?94%7i)$-*0*+$)%J$($#*&%+/*(Jj?9
2L4% "E% =>?% <?;?8:6% =>:;<% >3D% 3C8?39P% L??;% D?<8?<3=?9% 78% D?=%
3D:9?R%:;%O>:6>%63D?R%:=%>3D%L?67I?%DQ?6:!%6S
XBY& V)*0(#4Q&,-"%.#(%)*$
&
%
5;%7LC:<3=:7;%=7%Q3P%I7;?PR%DH6>%3D%7;?%H;9?8%3%Q?;D:7;%
QC3;R%:D%<?;?8:6S%+?8?%E3:CH8?%=7%83:D?%EH;9D%:D%;7=%3%9?E?;D?%7K/*-9%
O'(J%I*4+,(&$%W$-9%['9%19%Y$+"#*,(=%OACCB;=%Y"-9%PU=%:>BB%,()%
X$5$4%19%[,-+$F=%@C%S9N9%::>P?=%;78%:D%:=%?Z6HD?9%WHD=%L?63HD?%
=>?%9?L=78%>3D%-'4+%6?8=3:;%4!$&*!%&%Q87Q?8=P%9H?%=7%3%E78=H:=7HD%
?F?;=S%7X,0*#$k%19%['"#+%'2%8!!$,-4=%BQ%S9N9%CCU?9
&
&
/089-"%'&)+&(S0&HS%"%88%*0$&12&A)$0&O4%U#"6)
:;?>?F>@&L0'2&BC@&CD<=
&
%
H8[WDG%5%L7887O?8%7L=3:;?9%3%C73;%E87I%3%L3;^S%*>?%C73;%
O3D%?IL79:?9%:;%D?F?83C%Q87I:DD78P%;7=?DS%5D%D?6H8:=PR%=>?%L78V
87O?8%?Z?6H=?9%3%6>3==?C%I78=<3<?%7;%>:D%D=3;9:;<%687QDS%.3:9%
687QD%O?8?R%>7O?F?8R%DHLD?XH?;=CP%9?D=87P?9%LP%=>?%g3Q3;?D?%
E786?D%9H8:;<%=>?%C3D=%O38S%R44"$G%"D%=>?%L7887O?8%D=:CC%C:3LC?%E78%
=>?%C73;%9?DQ:=?%=>?%9?D=8H6=:7;%7E%=>?%687QD%LP%D7I?7;?%?CD?f
%
%
`EOIG%B?DR%=>?%L7887O?8%:D%D=:CC%C:3LC?R%E78%>:D%7LC:<3=:7;%
O3D%('+%=7%9?C:F?8%9?=?8I:;3=?%=>:;<D%2=>?%687QD4%LH=%=7%9?C:F?8%
3%J$($#*&%=>:;<%2I7;?P4S%*>?%3I7H;=%7E%I7;?P%8?Q8?D?;=:;<%=>?%
F3CH?%7E%=>?%687QDR%O:=>%:;=?8?D=R%63;;7=%L?%D3:9%=7%>3F?%L??;%
C7D=R%E78%=>?%3667H;=%63;%D=:CC%L?%Q3:9%E87I%D7H86?D%'+/$#%+/,(%
=>?%I78=<3<?9%687QDS
&
74(2&C?<F2&MS0&')94($&$S#""&60(045%*0&RS0(S04@&9*604&(S0&
'%4'95$(#*'0$@&(S0&8#4(%#"&")$$&)+&(S0&)-U0'(&)+&(S0&)-"%.#(%)*&
%$&$)&%58)4(#*(&#$&()&0`(%*.9%$S&(S0&)-"%.#(%)*2
!,VVJKMW
&
J++0'(&)+&H#4(%#"&:)$$
&
%
";%6?8=3:;%63D?DR%!,#+*,-%C7DD%I3P%:;9??9%L?%?XH:F3C?;=%=7%3%
67IQC?=?%C7DDR%DH6>%3D%=>?%C7DD%7E%3%DQ?6:!%6%E7H;=3:;%Q?;%0*("4%
MMU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%/JN1V/JNN
=>?%67F?8S%";%7=>?8%63D?DR%=>?%C7DD%I3P%L?%:;D:<;:!%63;=S%+?;6?R%
WH9:6:3C%9?=?8I:;3=:7;%7E%=>?%?EE?6=%:D%;??9?9S
&
74(2& C?<=2& ZS0*0104& (S0& (S%*.& %$& ")$(& %*& (S0& 8)$$0$$%)*&
)+&(S0&60-()4@&%(&$S#""&-0&840$9506&(S#(&(S0&")$$&R#$&690&()&
S%$&+#9"(@&9*"0$$&(S040&%$&84))+&()&(S0&')*(4#4Q@&#*6&R%(S)9(&
840U96%'0&()&(S0&84)1%$%)*$&)+&74(%'"0&CC<=2&MS%$&840$958(%)*&
6)0$&*)(&#88"Q&%*&'#$0&)+&0#4(S_9#T0@&"&))6@&$()45@&)4&)(S04&
*#(94#"&'#"#5%(Q2&
!,VVJKMW
XCY& H40$958(%)*&MS#(&:)$$&Z#$&L90&()&L0-()4d$&b#9"(
%
%
-7=?%=>3=%=>?%9?L=78%:D%Q8?DHI?9%=7%L?%3=%E3HC=S%"E%3%Q?8D7;%
E78% ?Z3IQC?% :D% ?;=8HD=?9% O:=>% D?F?83C% >?39D% 7E% 63==C?% 3;9% >?%
63;;7=%3667H;=%E78%D7I?%I:DD:;<%7;?DR%>?%:D%Q8?DHI?9%=7%L?%3=%
E3HC=S%7K,-,&*'%19%D"),#*'=%C%K/*-9%QCBh%4$$%T,-,5,(%R(4"#,(&$%
['9=%R(&9%19%T,(*-,%K'#+%D$#1*&$=%OAQ;CUU=%T,5%:B=%:>;>?9
X?Y& ZS0*&H40$958(%)*&L)0$&K)(&788"Q
&
%
*>?%Q8?DHIQ=:7;%7E%E3HC=%97?D%;7=%3QQCP%:;%=>?%63D?%7E%3%
;3=H83C%63C3I:=PS%5C=>7H<>%!%8?%:D%;7=%3%;3=H83C%63C3I:=PR%:E%3%
=?;3;=%:D%3LC?%=7%Q87F?%=>3=%=>?%!%8?%63HD?9%:;%>:D%3Q38=I?;=%O3D%
QH8?CP%5!!"'(-*5$R%>?%:D%-&*%C:3LC?S%7O*k,#$4%19%`$#(,$k%n%
8-"(,(=%@U%K/*-9%><:?9
&
74(2&C?<<2&MS0&60-()4&%*&)-"%.#(%)*$&()&6)&$S#""&#"$)&-0&
40"0#$06&RS0*&(S0&840$(#(%)*&-0')50$&"0.#""Q&)4&8SQ$%'#""Q&
%58)$$%-"0&R%(S)9(&(S0&+#9"(&)+&(S0&)-"%.)42
!,VVJKMW
XCY& :)$$&%*&H04$)*#"&,-"%.#(%)*$
&
%
*>:D%58=:6C?%8?E?8D%=7%3%63D?%O>?;%67IQC:3;6?%7E%3%Q?8D7;3C%
7LC:<3=:7;%L?67I?DR%.*+/'"+%=>?%9?L=78_D%E3HC=%Y
234% 3%-$J,-%:IQ7DD:L:C:=Pe
2L4% 78%3%!/54*&,-%:IQ7DD:L:C:=PS
MM/
%
58=S%/JNN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X?Y& ZS0*&(S0&358)$$%-%"%(Q&V9$(&J`%$(
&
%
*>?%:IQ7DD:L:C:=P%IHD=%L?%5)*(@%=>?%67;D=:=H=:7;%7E%=>?%
7LC:<3=:7;S% "E% :=% O3D% L?E78?R% =>?8?% :D% ;7=>:;<% =7% ?Z=:;<H:D>S% 7<%
T,(#$4,%PB@?9%2-7=?%=>?%O789%`L?67I?Da4S%+?;6?R%:E%=>?%Q?8E78IV
3;6?%O3D%:IQ7DD:LC?%8:<>=%3=%=>?%D=38=R%=>?%7LC:<3=:7;%IHD=%L?%
8?<389?9%3D%#&"'S
XBY& J`#58"0$&)+&358)$$%-%"%(Q
234% O$J,-%*0!'44*6*-*+5
%
%
*>?%EH8;:D>:;<%7E%O78^%7;%.H;93PD%O>?;%=>?%D3I?%
:D% Q87>:L:=?9% LP% C3O% 784*,% Z$)% H,&+'#5% 19% V,+*'(,-% Z$)%
M'#L$#\4%_(*'(=%$+%,-9=%OA>:Q;=%Y,(9%P:=%:>BC?h%8?EHD3C%7E%=>?%
<7F?8;I?;=%=7%:DDH?%3%LH:C9:;<%Q?8I:=S%7W,6'#,%19%O,k,+*(=%
OABQ@B=%T,5%Q>=%:>BP?9
2L4% K/54*&,-%*0!'44*6*-*+5
%
%
*7%:;D=3CC%3%I7=78%:;%3%D>:Q%=>3=%O3D%C7D=%3E=?8%=>?%
Q?8E?6=:7;% 7E% =>?% 67;=836=% LH=% Q8:78% =7% DH6>% :;D=3CC3=:7;S%
7D$$%T*-,(%19%X*'%5%S-,6,##*$+,=%@B%K/*-9%C:<?9
&
&
V%"#*&12&/%)&Q&,"#-#44%0(#
F=&HS%"2&PCE
&
%
H8[WDG%8%D7C9%3%>3CEV:;=?8?D=%:;%>:D%I7=78L73=%=7%ZS%"=%O3D%
3<8??9%=>3=%=>?%Q8:6?%=7%L?%Q3:9%LP%Z%O7HC9%L?%HD?9%:;%:;D=3CCV
:;<%3%I7=78%7;%=>?%F?DD?CS%$3=?8R%=>?%F?DD?C%O3D%9?D=87P?9%LP%3%
E78=H:=7HD%?F?;=S%R44"$G%"D%Z\4%7LC:<3=:7;%=7%Q3P%=>?%Q8:6?%?Z=:;V
<H:D>?9f
%
%
`EOIG%Z%IHD=%D=:CC%Q3P%L?63HD?%>:D%7LC:<3=:7;%=7%Q3P%:D%
<?;?8:6S%*>:D%:D%D7%?F?;%:E%=>?8?%:D%;7%I78?%HD?%7E%:;D=3CC:;<%=>?%
I7=78%D:;6?%=>?%L73=%>3D%3C8?39P%L??;%9?D=87P?9%LP%=>?%E78=H:=7HD%
?F?;=S%"=%D>7HC9%L?%;7=?9%>?8?%=>3=%:=%:D%;7=%=>?%Q3P:;<%=>3=%>3D%
L?67I?%:IQ7DD:LC?%2E78%:;9??9R%:=%D=:CC%:D4e%:=%:D%I?8?CP%=>?%36=%=7%
L?%Q?8E78I?9%3E=?8%=>?%Q3P:;<%=>3=%>3D%L?67I?%:IQ7DD:LC?S%*>HDR%
=>?%7LC:<3=:7;%78%Q8?D=3=:7;%2=7%Q3P4%8?I3:;DS
XFY& J++0'(&)+&G9-U0'(%10&358)$$%-%"%(Q
&
%
"E%=>?%36=%:D%4"63$&+*1$-5%:IQ7DD:LC?%2E78%=>?%9?L=78%>:ID?CE4%
LH=%7=>?8O:D?%7LW?6=:F?CP%Q7DD:LC?%2E78%3CC%7=>?8D4R%:D%=>?%7LC:<3V
=:7;%?Z=:;<H:D>?9f
MMJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%/JN]
%
8VD9G%"=%9?Q?;9DS%iDH3CCP%=>?%7LC:<3=:7;%DHLD:D=D%7X$5$4%
19% [,-+$F=% @C% S9N9% ::>P?=% H;C?DD% Q?8D7;3C% 67;D:9?83=:7;D% 38?%
:;F7CF?9%DH6>%3D%O>?;%7;CP%3%!,#+*&"-,#%67IQ3;P%:D%Q87>:L:=?9%
LP%C3O%=7%EH8;:D>%O78^%7;%3%6?8=3:;%93PS
X=Y& J++0'(& )+& :)$$& MS49& #& b)4(9%()9$& J10*(& %*& /0'%84)'#"&
,-"%.#(%)*$
234% N$($#,-%#"-$G%*>?%7LC:<3=:7;%=>3=%O3D%;7=%?Z=:;<H:D>?9%LP%
=>?%E78=H:=7HD%?F?;=%8?I3:;DS%2EF,0!-$G%"E%3E=?8%Q?8E?6=:7;%3%
LH:C9:;<%=>3=%O3D%D7C9%:D%9?D=87P?9%LP%C:<>=;:;<R%=>?%LHP?8%
IHD=%D=:CC%Q3PR%E78%>?%L?38D%=>?%C7DD%?F?;%:E%=>?%LH:C9:;<%
>39%;7=%P?=%L??;%9?C:F?8?9%=7%>:IS4%7D$$%8#+9%::>:=%[*1*-%
[')$?9
2L4% EF&$!+*'(4G
%
%
3DG
.7I?% ?Z6?Q=:7;D% 38?% Q87F:9?9% E78% LP% =>?% C3OR% DH6>%
/4%
";%=>?%63D?%7E%C?3D?%Y%"E%=>?%7LW?6=%:D%9?D=87P?9R%L7=>%
=>?% C?3D?% 3;9% =>?% 7LC:<3=:7;% =7% Q3P% 8?;=% 38?% ?Z=:;V
<H:D>?9S%7D$$%8#+9%:;BB=%[*1*-%[')$?9
J4%
";%67;=836=D%E78%3%Q:?6?%7E%O78^%Y%+?8?R%=>?%O78^?8%
78%67;=836=78%63;;7=%DH66?DDEHCCP%3D^%E78%=>?%Q8:6?%:E%
=>?%=>:;<%L?%C7D=%LP%3%E78=H:=7HD%?F?;%Q8:78%=7%9?C:F?8PS%
-7=?% >?8?% =>3=% =>?% 8:D^% :D% 7;% =>?% O78^?8S% 7D$$% 8#+9%
:C:C=%[*1*-%[')$?9
X<Y& H#4(%#"&358)$$%-%"%(Q
&
%
58=S%/JNM%3QQC:?D%=7%!,#+*,-%*0!'44*6*-*+59
&
74(2&C?<P2&ZS0*&(S0&$041%'0&S#$&-0')50&$)&6%+!&'9"(&#$&()&
-0& 5#*%+0$("Q& -0Q)*6& (S0& ')*(058"#(%)*& )+& (S0& 8#4(%0$@& (S0&
)-"%.)4&5#Q&#"$)&-0&40"0#$06&(S040+4)5@&%*&RS)"0&)4&%*&8#4(2&
!,VVJKMW
XCY& J++0'(&)+&L%+!&'9"(Q&N0Q)*6&(S0&H#4(%0$d&!)*(058"#(%)*
&
%
*>:D%58=:6C?%8?E?8D%=7%I783C%:IQ7DD:L:C:=P%78%:IQ836=:63L:CV
:=P%9H?%=7%6>3;<?%7E%6?8=3:;%67;9:=:7;D%7#$6"4%4*&%4+,(+*6"4%]%3%
=8?3=P%78%3<8??I?;=%8?I3:;D%F3C:9%7;CP%:E%=>?%4,0$%67;9:=:7;D%
MMK
%
58=S%/JN]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
Q8?F3:C:;<%3=%=>?%=:I?%7E%67;=836=:;<%&'(+*("$%+'%$F*4+%,+%+/$%+*0$%
'2%!$#2'#0,(&$?9
%
%
cVSWEG%*>:D%:D%3CD7%8?E?88?9%=7%3D%=>?%976=8:;?%7E%`=>?%E8HDV
=83=:7;%7E%=>?%67II?86:3C%7LW?6=a%7X$%Z,)*4&/$%['9%c:>Q:e%Q%[/9%
E(J%PP:?=%`E8HD=83=:7;%7E%?;=?8Q8:D?Sa%7X$5$4%,()%K"('=%S"+-*($%
'2%[*1*-%O,.=%d'-9%Rd=%!9%QP>=%&*+*(J%['#6*(%'(%['(+#,&+4=%d'-9%;=%
!!9%:PBPA:P;:?9e
X?Y& K)*;788"%'#-%"%(Q&()&/0#"&,-"%.#(%)*$
%
%
"=%O:CC%L?%;7=?9%=>3=%58=S%/JN]%DQ?3^D%7E%3%`D?8F:6?a%Y%3%
!$#4'(,-%'6-*J,+*'(S%*>HDR%8?3C%7LC:<3=:7;D%2`=7%<:F?a4%38?%;7=%:;V
6CH9?9%O:=>:;%:=D%D67Q?S%"E%E78%?Z3IQC?%3%C?3D?%67;=836=%:D%?;=?8?9%
:;=7%E78%D3P%JU%P?38D%3=%3%!%Z?9%8?;=3C%Q?8%I7;=>R%O7HC9%=>?%C?DD78%
L?%WHD=:!%?9%:;%:;68?3D:;<%D3:9%8?;=%=7%0UUk%:E%=>?%=3Z?D%78%3DD?DDV
I?;=D%38?%3CD7%:;68?3D?9%LP%0UUkf%"=%:D%DHLI:==?9%=>3=%:;%F:?O%
7E%=>?%?Z:D=?;6?%7E%=>?%67;=836=R%;7%DH6>%:;68?3D?%63;%L?%?EE?6=?9%
O:=>7H=%=>?%C?DD??_D%67;D?;=S%5E=?8%3CCR%=>?%:;68?3D?%:;%=3Z?D%78%
:;%3DD?DDI?;=D%63;;7=%L?%D3:9%=7%L?%`L?P7;9%=>?%67;=?IQC3=:7;%
7E%=>?%Q38=:?DSa%"E%HQ7;%=>?%7=>?8%>3;9%=>?%C?DD??%O:CC%>3F?%>:D%
7O;%>7HD?%67;D=8H6=?9%:;%D3P%1%P?38DR%3;9%O:CCR%=>HDR%;7=%;??9%
=>?%Q8?I:D?D%3;PI78?R%>?%O:CC%;?6?DD38:CP%D=:CC%L?%L7H;9%LP%=>?%
67;=836=H3C%3<8??I?;=S
XBY& !)550*(&)+&(S0&!)60&!)55%$$%)*
%
%
`*>?% <?;?83C% 8HC?% :D% =>3=% :IQ7DD:L:C:=P% 7E% Q?8E78I3;6?%
8?C?3D?D% =>?% 7LC:<78S% +7O?F?8R% :=% :D% DHLI:==?9% =>3=% O>?;% =>?%
D?8F:6?%>3D%L?67I?%D7%9:E!%6HC=%3D%=7%L?%I3;:E?D=CP%L?P7;9%=>?%
67;=?IQC3=:7;%7E%=>?%Q38=:?DR%=>?%&'"#+%D>7HC9%L?%3H=>78:T?9%=7%
8?C?3D?%=>?%7LC:<78%:;%O>7C?%78%:;%Q38=S%*>?%:;=?;=:7;%7E%=>?%Q38V
=:?D%D>7HC9%<7F?8;%3;9%:E%:=%3QQ?38D%=>3=%=>?%D?8F:6?%=H8;D%7H=%
=7%L?%D7%9:E!%6HC=%3D%=7%>3F?%L??;%L?P7;9%=>?:8%67;=?IQC3=:7;R%
:=%O7HC9%L?%97:;<%F:7C?;6?%=7%=>3=%:;=?;=:7;%=7%>7C9%=>?%7LC:<78%
D=:CC%8?DQ7;D:LC?Sa%7X$!'#+%'2%+/$%[')$%['00*44*'(=%!9%:PP?9
XFY& J`#58"0$&)+&V)4#"&358)$$%-%"%(Q
%
%
*>?%9H=P%=7%67;D=8H6=%3%83:C8739%O>?;%DH6>%67;D=8H6=:7;%
O3D%Q7DD:LC?%LH=%1$#5%),(J$#'"4%+'%-*2$%3;9%Q87Q?8=PR%:D%?Z6HD?9%
LP%=>?%C3Oe%=>?8?E78?R%E3:CH8?%=7%<8:;9%DH<38%63;?%:;%F:?O%7E%=>?%
;7;V67;D=8H6=:7;%7E%=>?%83:C8739%97?D%-&*%<:F?%8:D?%=7%93I3<?DS%
MMM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JN0
7<%T,(#$4,%PBB%,()%O,6,5$(%19%W,-*4,5AD*-,5%T*--*(J%['9=%BQ%
K/*-9%@@U?9%+7O?F?8R%:E%:;D=?39%7E%?Z=8?I?%93;<?8%=>?8?%:D%7;CP%
Q87F?9%=>?%?Z:D=?;6?%7E%0$#$%*(&'(1$(*$(&$=%"($F!$&+$)%*0!$)*A
0$(+4=%'#%*(&#$,4$)%$F!$(4$4=%=>?%D3I?%O7HC9%;7=%L?%?;7H<>%=7%
8?C:?F?%3%9?L=78%E87I%>:D%`L39%L38<3:;Sa%7[,4+#'=%$+%,-9%19%O'(J,=%
<>%K/*-9%B<:?9
%
%
cVSWEG% )78% 58=S% /JN]% =7% 3QQCPR% =>?% E7CC7O:;<% 8?XH:D:=?D%
IHD=%67;6H8G
234% *>?% 4$#1*&$% IHD=% L?67I?% D7% )*2!%&"-+% =>3=% :=% O3D% I3;:V
E?D=CP% L?P7;9% =>?% 67;=?IQC3=:7;% 7E% b&*+% Q38=:?DS% 78#+9%
:Q;C?S%*>HDR%:=%:D%;7=%?;7H<>%=>3=%;?:=>?8%Q38=P%36=H3CCP%
3;=:6:Q3=?9%78%E78?D3O%=>?%9:E!%6HC=Pe%=>?%9:E!%6HC=P%&'"-)%
('+%KSDDRZOf%/,1$%6$$(%,(+*&*!,+$)%'#%2'#$4$$(9
2L4% &;?% 7E% =>?% Q38=:?D% IHD=% 3D^% E78% 8?C:?ES% 7WD=% T,5% :C=%
:>@:?9
264%
*>?% 7LW?6=% IHD=% L?% 3% 2"+"#$% 4$#1*&$% O:=>% 2"+"#$% "("4",-%
6>3;<?%:;%67;9:=:7;DS%2-3=H83CCPR%3;%,-$,+'#5%67;=836=%78%
7;?%9?Q?;9?;=%7;%6>3;6?R%:;%F:?O%7E%=>?%8:D^D%6$*(J%E78?V
D??;R%97?D%;7=%67I?%H;9?8%=>?%D67Q?%7E%8#+9%:Q;C49e
&
74(2&C?<E2&ZS0*&(S0&60-(&)+&#&(S%*.&'04(#%*&#*6&60(045%;
*#(0&84)'006$&+4)5&#&'4%5%*#"&)++0*$0@&(S0&60-()4&$S#""&*)(&
-0&0`058(06&+4)5&(S0&8#Q50*(&)+&%($&84%'0@&RS#(0104&5#Q&-0&
(S0&'#9$0&+)4&(S0&")$$@&9*"0$$&(S0&(S%*.&S#1%*.&-00*&)++0406&
-Q&S%5&()&(S0&804$)*&RS)&$S)9"6&40'0%10&%(@&(S0&"#((04&40+9$06&
R%(S)9(&U9$(%!&'#(%)*&()&#''08(&%(2
!,VVJKMW
XCY& J++0'(&)+&:)$$&%*&!4%5%*#"&,++0*$0$
234% *>:D%58=:6C?%<:F?D%7;?%:;D=3;6?%O>?8?%3%E78=H:=7HD%?F?;=%
97?D%('+%?Z=:;<H:D>%=>?%7LC:<3=:7;S
2L4% EF&$!+*'(G% c>?;% =>?% 68?9:=78% 2=>?% 7EE?;9?9% Q38=P% :;% =>?%
68:I?4%:D%:;%TSX8%8[[RKREVIRS
X?Y& 3""9$(4#(%10&c90$(%)*$
234% 8%67II:=D%=>?%68:I?%7E%=>?E=R%3;9%:D%3D^?9%=7%8?=H8;%=>?%
638%D=7C?;%=7%:=D%7O;?8%ZS%"ER%L?E78?%=>?%638%:D%9?C:F?8?9%=7%
MM1
%
58=S%/JNd
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
Z=%:=%:D%9?D=87P?9%LP%E78=H:=7HD%?F?;=R%:D%8\4%C:3L:C:=P%?Z=:;V
<H:D>?9f
%
%
8VD9G%-7R%8\4%C:3L:C:=P%:D%;7=%?Z=:;<H:D>?9S
%
%
X$,4'(G%8\4%7LC:<3=:7;%=7%9?C:F?8%=>?%638%387D?%E87I%3%
68:I:;3C%7EE?;D?R%3;9%:;%DH6>%3%63D?R%=>?%8HC?%:DR%>?%:D%C:3LC?%
?F?;%:E%=>?%C7DD%766H8D%L?63HD?%7E%3%E78=H:=7HD%?F?;=S
2L4% .HQQ7D?%:;%,87LC?I%234R%8%>39%Q8?F:7HDCP%3D^?9%=>?%7O;?8%
=7% 366?Q=% =>?% 638R% LH=% =>?% 7O;?8% O:=>7H=% 3;P% WHD=:!%3LC?%
8?3D7;%8?EHD?D%=7%366?Q=%=>?%638R%97%P7H%L?C:?F?%8%=7%D=:CC%L?%
8?DQ7;D:LC?%:ER%C?=%HD%D3PR%=>?%638%:D%C7D=%C3=?8%LP%3%E78=H:=7HD%
?F?;=f
%
%
8VD9G%";%=>:D%63D?R%=>?%68:I:;3C%67HC9%;7%C7;<?8%L?%
C:3LC?%L?63HD?%>?8?%=>?%68?9:=78%:D%:;%0'#,%,&&*!*$()*S%*>:D%
:D%=>?%?Z6?Q=:7;%=7%=>?%8HC?S
264%
"E% =>?% 68?9:=78% 8?EHD?D% =7% 366?Q=% =>?% =>:;<% 9H?% E87I% =>?%
68:I:;3CR%O>3=%D>7HC9%=>?%C3==?8%97f
%
%
8VD9G%*>?%68:I:;3C%I3P%?:=>?8%67;D:<;%=>?%=>:;<%78%
?CD?%^??Q%=>?%=>:;<%:;%>:D%Q7DD?DD:7;S%"E%>?%97?D%=>?%C3==?8%
=>:;<R%>?%:D%D=:CC%7LC:<?9%=7%638?%E78%:=%O:=>%9H?%9:C:<?;6?R%LH=%
=>:D%=:I?%>?%O:CC%;7=%L?%C:3LC?%:E%=>?%=>:;<%:D%C7D=%=>87H<>%3%
E78=H:=7HD%?F?;=S%7Q%T,(#$4,%P;:?9
&
74(2& C?<D2& MS0& )-"%.#(%)*& S#1%*.& -00*& 0`(%*.9%$S06& -Q&
(S0&")$$&)+&(S0&(S%*.@&(S0&'406%()4&$S#""&S#10&#""&(S0&4%.S($&)+&
#'(%)*&RS%'S&(S0&60-()4&5#Q&S#10&#.#%*$(&(S%46&804$)*$&-Q&
40#$)*&)+&(S0&")$$2
!,VVJKMW
XCY& M4#*$+04& )+& /%.S($& +4)5& (S0& L0-()4& ()& (S0& !406%()4& %*&
!#$0&)+&:)$$
%
EF,0!-$G
%
%
D%:D%7LC:<?9%=7%9?C:F?8%>:D%638%=7%ZS%bH=%^%9?D=87PD%=>?%638S%
Z%>3D%3%8:<>=%=7%DH?%^S%*>?%8:<>=%:D%<:F?;%=7%Z%:;D=?39%7E%D%L?V
63HD?%7=>?8O:D?%D%O7HC9%"()"-5%!#'!%+%:;%=>3=%>?%O:CC%<3:;%=O7%
MMN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J]U
=>:;<DG%!%#4+R%>:D%7LC:<3=:7;%=7%<:F?%=>?%638%78%:=D%F3CH?%:D%3C8?39P%
?Z=:;<H:D>?9e%4$&'()=%>?%O7HC9%L?%3CC7O?9%=7%8?67F?8%E87I%^S%"=%
:D%7LF:7HD%=>3=%D%IHD=%('+%H;9HCP%Q87!%=%3=%=>?%?ZQ?;D?%7E%ZS
X?Y& [/%.S($&)+&7'(%)*dd
&
&
`@:<>=D%7E%36=:7;a%:;6CH9?%=>?%:;DH83;6?%:;9?I;:=P%=>3=%I3P%
>3F?%L??;%8?6?:F?9S%7D$$%_##"+*,%n%['9%19%Z,&'%X*1$#%K-,(+,+*'(%
['9=%Q;%K/*-9%;PQ?9
&
&
I449(%#&f&!)2&12&N#')&/%104&H"#*(#(%)*&!)2
?<&HS%"2&<B?
%
%
H8[WDG% 5% F?DD?C% 67CC:9?9% O:=>% 3;7=>?8% F?DD?CS% *>?% !%8D=%
F?DD?C%O3D%3=%E3HC=R%LH=%:=%D3;^S%+7O?F?8R%=>?%7O;?8%7E%=>?%F?DV
D?C%67CC?6=?9%:;DH83;6?S%R44"$G%"D%=>?%:;DH83;6?%I7;?P%C:3LC?%E78%
=>?%93I3<?D%DHD=3:;?9%LP%=>?%D?67;9%F?DD?Cf
%
%
`EOIG%B?DS%`*>?%F?DD?C%C7D=%O3D%:;DH8?9R%3;9%=>?%9?E?;9V
3;=%67CC?6=?9%=>?%:;DH83;6?S%*>3=%L?:;<%=>?%63D?R%=>?%:;DH83;6?%
I7;?P%DHLD=:=H=?D%=>?%F?DD?CR%3;9%IHD=%L?%HD?9R%D7%E38%3D%;?6?DV
D38PR%=7%Q3P%=>?%WH9<I?;=%8?;9?8?9%:;%=>:D%63D?Sa
G0'(%)*&B
!,KL,K7M3,K&,/&/JV3GG3,K&,b&M\J&LJNM
&
74(2&C?P>2&!)*6)*#(%)*&)4&405%$$%)*&%$&0$$0*(%#""Q&.4#(9%;
()9$@&#*6&40_9%40$&(S0&#''08(#*'0&-Q&(S0&)-"%.)42&3(&5#Q&-0&
5#60&0`840$$"Q&)4&%58"%06"Q2
&
,*0& #*6& (S0& )(S04& T%*6$& $S#""& -0& $9-U0'(& ()& (S0& 49"0$&
RS%'S& .)104*& %*)+!&'%)9$& 6)*#(%)*$2& J`840$$& ')*6)*#(%)*&
$S#""@&+94(S045)40@&')58"Q&R%(S&(S0&+)45$&)+&6)*#(%)*2&
!,VVJKMW
XCY& j/05%$$%)*&)4&!)*6)*#(%)*d&L0!&*06
%
%
"=%:D%`=>?%<83=H:=7HD%3L3;97;I?;=%LP%=>?%68?9:=78%7E%>:D%
8:<>=Sa%7@%D,(&/$k%X'0,(%@QQ?9
MM]
%
58=S%/J]U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X?Y& J`#58"0
%
%
hC78:3% 7O?D% (9<3897% ,1SUUS% c>?;% =>?% 9?L=% I3=H8?9%
(9<3897%=7C9%hC78:3%=>3=%D>?%;??9%;7=%!,5%=>?%9?L=%D:;6?%>?%O3D%
67;97;:;<%:=S%hC78:3R%:;%=H8;R%?ZQ8?DD?9%>?8%<83=:=H9?S%+?8?R%=>?%
9?L=%>3D%L??;%?Z=:;<H:D>?9%LP%8?I:DD:7;S
XBY& J$$0*(%#"&/0_9%$%(0$&+)4&/05%$$%)*
234% *>?8?%IHD=%L?%3;%,J#$$0$(+%2D:;6?%366?Q=3;6?%7E%=>?%7EE?8%
:D%8?XH:8?94S%78#+9%:QCU?9
2L4% *>?%Q38=:?D%IHD=%L?%&,!,&*+,+$)%3;9%IHD=%&'(4$(+%2=>?8?V
E78?R%:=%:D%L?P7;9%=>?%Q7O?8%7E%=>?%67H8=D%78%7E%!7;<8?DD%=7%
67;97;?%:;=?8?D=%H;C?DD%=>?%68?9:=78%&'(4$(+4?9%7Z,($k%19%
f'"(J=%OA@;PB=%S&+9%QC=%:>BQ?9
264%
*>?8?% IHD=% L?% 4"63$&+% 0,++$#% 27LW?6=% 7E% =>?% 8?I:DD:7;%
Y%7=>?8O:D?R%=>?8?%O7HC9%L?%;7=>:;<%=7%67;97;?4S
294% *>?%63HD?%78%67;D:9?83=:7;%IHD=%L?%-*6$#,-*+5%2E78%8?I:DD:7;%
:D% EDDEVWR8OOf% NX8W_RWS_D?9% 2&=>?8O:D?R% =>?% 36=%
I3P%L?%3%),+*'(%:;%Q3PI?;=R%78%3%('1,+*'(R%78%3%&'0!#'A
0*4$S4%7<%T,(#$4,%PQ>APPU?9
2?4% *>?%7LC:<3=:7;%8?I:==?9%IHD=%>3F?%L??;%)$0,(),6-$%3=%=>?%
+*0$%'2%#$0*44*'(%27=>?8O:D?R%=>?%8?I:DD:7;%:D%HD?C?DD4S%7<%
T,(#$4,%PPU?9
2E4%
*>?%8?I:DD:7;%IHD=%('+%6$%*('2!%&*'"4%27=>?8O:D?R%:=%O7HC9%
L?%#$)"&*6-$=%D7%=>3=%=>?%C?<:=:I?D%7E%=>?%67IQHCD78P%>?:8D%
O7HC9%;7=%L?%:IQ3:8?94S
%
%
g_EXfG% *>?% C3O% I?;=:7;D% `:;7E!%6:7HD% 97;3=:7;DRa%
LH=%97?D%;7=%8?E?8%=7%=>?%7=>?8%<87H;9D%E78%8?F763=:7;%7E%
97;3=:7;D%DH6>%3D%:;<83=:=H9?S%-7O%=>?;R%I3P%=>?%8?I:DV
D:7;%L?%8?F7^?9%7;%D3:9%7=>?8%<87H;9Df
%
%
8VD9G%B?DR%L?63HD?%8?I:DD:7;%:D%?DD?;=:3CCP%3%97;3=:7;%
7[,4+,(?R%9?DQ:=?%=>?%?Z6CHD:F?%I?;=:7;%7E%`:;7E!%6:7HDSa
2<4% H'#0,-*+*$4%'2%,%)'(,+*'(%38?%8?XH:8?9%:;%=>?%63D?%7E%3;%
?ZQ8?DD%2;7=%:IQC:?94%8?I:DD:7;S%78#+9%:QCU?9
%
%
EF,0!-$G% 5% 8?I:DD:7;% 7E% 3;% 7LC:<3=:7;% =7% <:F?% C3;9%
IHD=%L?%:;%3%QHLC:6%:;D=8HI?;=%:;%789?8%=7%L?%F3C:9S%78#+9%
C@>=%[*1*-%[')$?9
MM0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J]U
%
%
g_EXfG%A3P%3;%?ZQ8?DD%8?I:DD:7;%)$2$&+*1$%:;%E78I%
L?%67;D:9?8?9%3;%*0!-*$)%8?I:DD:7;f
%
%
8VD9G%-7R%7=>?8O:D?R%=>?%8?XH:8?I?;=%7E%=>?%C3O%7;%
?ZQ8?DD% 8?I:DD:7;% O7HC9% L?% 8?;9?8?9% HD?C?DDS% *>HDR% 3;%
?ZQ8?DD%8?I:DD:7;R%;7=%I39?%:;%9H?%E78IR%63;;7=%3EE?6=%=>?%
68?9:=78%:E%:=%:D%.*+/)#,.(%*(%)"$%+*0$S%"=%O7HC9%3EE?6=%>:I%
7;CP%O>?;%($.%,&+4%'2%.,*1$#%67;!%8I%=>?%?ZQ8?DD%QH8Q7D?%
7E%=>?%E78I?8R%3D%7;?%7E%=>?%L3D?D%7;%O>:6>%=36:=%78%:IQC:?9%
8?I:DD:7;%I3P%8?D=S%7<%T,(#$4,%P@@?9
%
%
7VSWEG%"E%8?I:DD:7;%:D%I39?%:;%3%O:CCR%:=%:D%?DD?;=:3C%
=>3=% =>?% O:CC% L?% #5$"'% ?Z=8:;D:63CCPR% 3;9% ,@&b5*('S%%
5E=?8%3CCR%DH6>%3%8?I:DD:7;%:D%I39?%(q,@(..$BS%*>?%O:CCR%
L?%:=%8?I?IL?8?9R%36=H3CCP%Q38=3^?D%7E%3%97;3=:7;%0'#+*4%
&,"4,9?
2>4% c3:F?8D%78%8?I:DD:7;D%,#$%('+%+'%6$%!#$4"0$)%J$($#,--59%
*>?P%IHD=%L?%&-$,#-5%3;9%&'(1*(&*(J-5%4/'.(=%?:=>?8%LP%
?ZQ8?DD%D=:QHC3=:7;R%78%LP%36=D%39I:==:;<%7E%;7%7=>?8%8?3V
D7;3LC?%?ZQC3;3=:7;S%78##*$+,%19%V8XR[=%OA:B;@B=%Y,(9%P:=%
:>;@?9
XFY& !"#$$0$&)+&/05%$$%)*
234% 5D%8?<389D%:=D%$22$&+%78%$F+$(+G
/4%
J4%
=7=3C
Q38=:3C%27;CP%3%Q78=:7;%:D%8?I:==?9%78%=>?%8?I:DD:7;%
I3P%8?E?8%7;CP%=7%=>?%,&&$44'#5%'6-*J,+*'(44
2L4% 5D%8?<389D%:=D%),+$%'2%$22$&+*1*+5G
264%
/4%
J4%
*(+$#%1*1'4%29H8:;<%C:E?4
0'#+*4%&,"4,%23E=?8%9?3=>4
%
2*>:D%IHD=%>3F?%=>?%E78I3C:=:?D%7E%3%O:CC%3;9%=>?%O:CC%
IHD=%L?%!#'6,+$)S4
5D%8?<389D%:=D%2'#0G
/4%
:IQC:?9%78%=36:=%2=>:D%8?XH:8?D%;7%E78I3C:=P4%7&'()"&+%
*4%4"2!%&*$(+?
J4%
?ZQ8?DD%78%E78I3C%2=>:D%8?XH:8?D%=>?%E78I3C:=:?D%7E%3%
97;3=:7;% :E% *(+$#% 1*1'4e% 7E% 3% O:CC% 78% 679:6:C% :E% 0'#+*4%
&,"4,4
MMd
%
58=S%/J]U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X=Y& /05%$$%)*&V9$(&N0&O4#(9%()9$
&
&
:Q4%'&b%"5&J`'S#*.0&12&!)R804
X!272Y&B<&,2O2&C<F?
%
%
H8[WDG%8%L7H<>=%EH8;:=H8?%E87I%Z%7;%68?9:=S%&;%=>?%93=?%
7E%Q3PI?;=%Z%=7C9%8%>?%O7HC9%67;97;?%=>?%9?L=%Q87F:9?9%=>3=%
8%O7HC9%8?=H8;%=>?%EH8;:=H8?%O>:6>%>3D%L??;%EH8;:D>?9%>:IS%8%
3<8??9S%"D%=>?8?%8?I:DD:7;%>?8?f
%
%
`EOIG%*>?%!7H8=%7E%5QQ?3CD%D3:9%=>3=%=>:D%:DR%D=8:6=CP%DQ?3^V
:;<R%;7=%=>?%D3=:DE36=:7;%7E%3;%7LC:<3=:7;%LH=%=>?%67;97;3=:7;%78%
8?I:DD:7;%7E%3%9?L=S
%
%
7VSWEG% *>:D% D>7HC9% L?% 8?3CCP% 67;D:9?8?9% 3% 67IQ87I:D?R%
;7=%3%8?I:DD:7;%E78%:=%:D%('+%J#,+"*+'"49?
X<Y& J++0'(&%+&/05%$$%)*&3$&K)(&7''08(06&-Q&(S0&L0-()4
&
%
*>:D%O7HC9%;7=%L?%8?I:DD:7;e%>7O?F?8R%:E%=>?%68?9:=78%97?D%
;7=% 8?3CCP% 67CC?6=% O:=>:;% =>?% .=3=H=?% 7E% C:I:=3=:7;D% 2Q?8:79% 7E%
Q8?D68:Q=:7;4R%=>?%9?L=%I3P%L?%D3:9%=7%>3F?%L??;%?Z=:;<H:D>?9%
LP%,@(.!@",*"&-S
XPY& ZS#(&/05%$$%)*&3*'"960$
&
&
b4#*'%$')&H9a)*&12&V#4'0"%*)&O#04"#*@&0(&#"2
:;CD=PC@&L0'2&BC@&CD<=
%
%
H8[WDG%5%67;WH<3C%=O7VD=78?P%LH:C9:;<R%7O;?9%LP%3%>HDV
L3;9%3;9%O:E?%C:F:;<%D?Q383=?CP%E87I%?36>%7=>?8R%O3D%C?3D?9%:;%
E3F78%7E%6?8=3:;%=?;3;=DR%LH=%=>?%67;=836=%7E%C?3D?%D=:QHC3=?9%=>3=%
=>?%8?;=D%O7HC9%L?%Q3:9%=7%=>?%>HDL3;9%3C7;?S%*>?%O:E?%DH?9%E78%
Q38=%7E%D3:9%8?;=3CDS%";%=>?%67H8D?%7E%=>?%=8:3CR%3%67IQ87I:D?%O3D%
3<8??9%HQ7;%L?=O??;%=>?%DQ7HD?D%=7%=>?%?EE?6=%=>3=%=>?%O:E?%O7HC9%
Q3P%=>?%>HDL3;9%,K1RUUU%:;%67;D:9?83=:7;%7E%3%.,*1$#%I39?%LP%
=>?%>HDL3;9%=7%3;P%8:<>=%:;%D3:9%Q87Q?8=P%3;9%=7%3;P%3667H;=:;<%
7E%=>?%8?;=3CD%=>?%Q87Q?8=P%O7HC9%?38;S%*>?%67IQ87I:D?%O3D%=>?;%
3QQ87F?9%LP%=>?%67H8=S%R44"$G%'7?D%=>?%O3:F?8%=7%=>:D%Q87Q?8=P%
9:DD7CF?%=>?%67;WH<3C%Q38=;?8D>:Q%L?=O??;%=>?%DQ7HD?Df
%
%
`EOIG% -7R% E78% =>?% O3:F?8% 3QQC:?D% 7;CP% =7% =>?% Q87Q?8=P%
I?;=:7;?9%:;%=>?%3<8??I?;=S%c:=>%8?E?8?;6?%=7%3CC%'+/$#%67;WH<3C%
M1U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J]/
Q87Q?8=:?DR%3D%O?CC%3D%EH=H8?%Q87Q?8=:?DR%=>?%67;WH<3C%Q38=;?8D>:Q%
D=:CC%8?I3:;DS
XEY& ZS0*&Z#%104&)4&7-#*6)*50*(&3$&L0+0'(%10
&
&
&
A)10*'%)&:9#*$%*.&12&H0)8"0&)+&(S0
HS%"%88%*0$&f&!)94(&)+&7880#"$
:;?B?ED@&b0-2&?E@&CD<D
%
%
H8[WDG%";%3%68:I:;3C%36=:7;%E78%D?9H6=:7;R%=>?%7EE?;9?9%
Q38=P%?ZQ8?DDCP%8?D?8F?9%=>?%8:<>=%=7%!%C?%3%D?Q383=?%6:F:C%36=:7;S%
*>?%!)"%2;7O%@*!4%E7H;9%=>?%366HD?9%<H:C=PR%3;9%:IQ7D?9%&*1*-%
-*,6*-*+*$4S% -7% I7=:7;% E78% 8?67;D:9?83=:7;% O3D% !%C?9% LP% =>?% 7EV
E?;9?9%Q38=PS%R44"$G%c3D%=>?%:IQ7D:=:7;%7E%6:F:C%C:3L:C:=P%Q87Q?8R%
9?DQ:=?%=>?%8?D?8F3=:7;f
%
%
`EOIG% -7R% =>?% :IQ7D:=:7;% 7E% =>?% 6:F:C% C:3L:C:=P% O3D% ('+%
!#'!$#%L?63HD?G
234% =>?8?%O3D%=>?%#$4$#1,+*'(%3D%=7%=>?%6:F:C%3DQ?6=e
2L4% =>?%I?8?%E3:CH8?%=7%!%C?%3%I7=:7;%E78%8?67;D:9?83=:7;%97?D%
('+% ;?6?DD38:CP% 8?DHC=% :;% O3:F?8% 78% 3L3;97;I?;=S% 5L3;V
97;I?;=%8?XH:8?D%3%I78?%67;F:;6:;<%XH3;=HI%7E%?F:9?;6?%
=>3;%I?8?%E78L?383;6?%=7%36=H3CCP%!%C?%=>?%6:F:C%36=:7;R%?DV
Q?6:3CCP%O>?;%O?%67;D:9?8%=>?%E36=%=>3=%=>?%D3I?%67HC9%L?%
!%C?9%?F?;%3E=?8%=>?%9?6:D:7;%:;%=>?%68:I:;3C%63D?%>39%L??;%
8?;9?8?9e
264%
!#''2%D>7HC9%L?%<:F?;%O:=>%8?DQ?6=%=7%=>?%3I7H;=S
&
74(2&C?PC2&MS0&60"%104Q&)+&#&84%1#(0&6)'950*(&01%60*';
%*.&#&'406%(@&5#60&1)"9*(#4%"Q&-Q&(S0&'406%()4&()&(S0&60-()4@&
%58"%0$&(S0&40*9*'%#(%)*&)+&(S0&#'(%)*&RS%'S&(S0&+)4504&S#6&
#.#%*$(&(S0&"#((042
&
3+&%*&)4604&()&*9""%+Q&(S%$&R#%104&%(&$S)9"6&-0&'"#%506&()&
-0&%*)+!&'%)9$@&(S0&60-()4&#*6&S%$&S0%4$&5#Q&98S)"6&%(&-Q&84)1;
%*.&(S#(&(S0&60"%104Q&)+&(S0&6)'950*(&R#$&5#60&%*&1%4(90&)+&
8#Q50*(&)+&(S0&60-(2
M1/
%
58=S%/J]/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& J++0'(&)+&L0"%104Q&)+&H4%1#(0&L)'950*(&J1%60*'%*.&(S0&
!406%(
%
%
*>?%58=:6C?%DQ?3^D%7E%3%`Q8:F3=?%976HI?;=Ra%;7=%3%QHLC:6%
7;?%L?63HD?%:;%=>?%63D?%7E%=>?%C3==?8R%3%67QP%:D%?3D:CP%7L=3:;3LC?R%
L?:;<%3%QHLC:6%8?6789S%-7=?%=>3=%O:=>%=>?%9?C:F?8P%7E%=>?%Q8:F3=?%
:;D=8HI?;=R%3%8?I:DD:7;%78%8?;H;6:3=:7;%:D%!#$4"0$)S
X?Y& J`#58"0
&
%
.=?E!%% I39?% 3% Q87I:DD78P% ;7=?% :;% E3F78% 7E% 5<3DD:% :;% =>?%
3I7H;=% 7E% ,/UU% I:CC:7;S% 5E=?8% D7I?% =:I?R% 5<3DD:% F7CH;=38:CP%
9?C:F?8?9% =>?% Q87I:DD78P% ;7=?% =7% .=?E!%% O:=>7H=% 67CC?6=:;<% =>?%
,/UU%I:CC:7;S%.=?E!%%:D%;7O%:;%Q7DD?DD:7;%7E%D3:9%;7=?S%*>?8?%:D%
3%)*4!"+,6-$%Q8?DHIQ=:7;%=>3=%=>?8?%>3D%L??;%3%8?I:DD:7;S%*>?%
Q8?DHIQ=:7;%:D%I?8?CP%9:DQH=3LC?%3;9%;7=%67;6CHD:F?%L?63HD?%:=%
I3P%L?%=>3=%=>?%:;D=8HI?;=%O3D%9?C:F?8?9%7;CP%E78%?Z3I:;3=:7;%
LP%.=?E!%%78%E78%67CC?6=:7;S%7D$$%O'!$k%d*+'%19%W,06"(+*(J=%PP%K/*-9%
QQ;?9
XBY& 358"%06&/05%$$%)*
%
%
"=%D>7HC9%L?%;7=?9%=>3=%58=S%/J]/%<:F?D%HD%3;%?Z3IQC?%7E%
3;%*0!-*$)%#$0*44*'(9
%
%
2VSWEG%*>?%F7CH;=38P%9?D=8H6=:7;%LP%=>?%68?9:=78%7E%=>?%
:;D=8HI?;=%:D%C:^?O:D?%3;7=>?8%E78I%7E%:IQC:?9%8?I:DD:7;S4
%
%
cVSWEG%bH=%=>?%I?8?%E36=%=>3=%=>?%68?9:=78%>3D%7I:==?9%3%
6?8=3:;%9?L=%78%=>?%;3I?%7E%=>?%9?L=78%E87I%3;%:;F?;=78P%I39?%
LP%>:I%97?D%;7=%:IQCP%3%=36:=%8?I:DD:7;S%7WD=%V'19%:>=%:>:B?9e
XFY& b#"$0S))6&K)(&7"")R06
&
%
"=%IHD=%('+%L?%=>7H<>=%=>3=%=>?%D?67;9%Q383<83Q>%3CC7OD%3%
E3CD?>779S%*>?%9?L=78%3;9%>:D%>?:8D%;7O%6C3:I%=>3=%=>?%:;D=8HV
I?;=% O3D% 9?C:F?8?9% ;7=% L?63HD?% 7E% Q3PI?;=% Z_W% '(-5% ./$(%
*()$$)%+/$#$%.,4%,%!,50$(+9%*>?%C3O%IHD=%;7=%L?%67;D=8H?9%=7%
3CC7O%3;%:II783C%36=H3=:7;S
M1J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J]J
X=Y& !)*"&%'(&)+&H40$958(%)*
%
%
"=%D>7HC9%L?%;7=?9%C:^?O:D?%=>3=%3D%L?=O??;%=>?%Q8?DHIQV
=:7;% 7E% 8?I:DD:7;% 3;9% =>?% Q8?DHIQ=:7;% 7E% Q3PI?;=R% =>?% !%8D=%
28?I:DD:7;4%789:;38:CP%Q8?F3:CDS
&
74(2&C?P?2&ZS0*0104&(S0&84%1#(0&6)'950*(&%*&RS%'S&(S0&
60-(&#880#4$&%$&+)9*6&%*&(S0&8)$$0$$%)*&)+&(S0&60-()4@&%(&$S#""&
-0&840$9506&(S#(&(S0&'406%()4&60"%10406&%(&1)"9*(#4%"Q@&9*"0$$&
(S0&')*(4#4Q&%$&84)1062
!,VVJKMW
XCY& H40$958(%)*&)+&e)"9*(#4Q&L0"%104Q
234% c>:C?%58=S%/J]/%<:F?D%3%!#$4"0!+*'(%'2%#$0*44*'(=%58=S%/J]J%
<:F?D%3%!#$4"0!+*'(%'2%1'-"(+,#5%)$-*1$#59
2L4% -7=?% 3<3:;% >?8?% =>3=% =>?% C3O% DQ?3^D% 7E% 3% Q8:F3=?% )'&"A
0$(+9
264%
*>?%Q8?DHIQ=:7;%:D%9:DQH=3LC?%78%!#*0,%2,&*$R%E78%=>?%C3O%
:=D?CE% D3PD% `H;=:C% =>?% 67;=838P% :D% Q87F?9Sa% 78#+9% :QCQh% 4$$%
O'!$k%d*+'%19%W,06"(+*(J=%PP%K/*-9%QQ;?9
&
&
:)80a&e%()&12&M#5-9*(%*.
BB&HS%"2&??<
%
%
H8[WDG%8%7O?9%Z%3%DHI%7E%I7;?PS%Z%D?;=%3%8?6?:Q=%D:<;?9%
LP%>:I%=7%8%=>87H<>%3%67CC?6=78R%O>7%O3D%DHQQ7D?9%=7%67CC?6=%3%
9?L=S%8%9:9%;7=%Q3PR%>7O?F?8R%3C=>7H<>%>?%^?Q=%=>?%8?6?:Q=S%*>?%
68?9:=78%7Z?%O3D%3LC?%=7%Q87F?%=>3=%=>?%7;CP%8?3D7;%>?%>39%D?;=%
=>?%8?6?:Q=%O3D%=7%67CC?6=%=>?%I7;?PS%R44"$G%"D%=>?8?%8?I:DD:7;%
>?8?f
%
%
`EOIG% -7R% =>?8?% :D% ;7% 8?I:DD:7;% >?8?e% =>?% 68?9:=78% >3D%
L??;%3LC?%=7%Q87F?%=>?%8?3C%8?3D7;%O>P%=>?%9?L=78%>39%:;%>:D%
Q7DD?DD:7;%=>?%8?6?:Q=S%+?;6?R%=>?%Q8?DHIQ=:7;%7E%8?I:DD:7;%>3D%
L??;%7F?867I?S
X?Y& /9"0& %+& (S0& 3*$(4950*(& )+& !406%(& 3$& G(%""& %*& !406%()4d$&
\#*6$
%
%
"E%=>?%:;D=8HI?;=%7E%68?9:=%:D%D=:CC%:;%=>?%>3;9D%7E%=>?%68?9:V
=78R%=>:D%:D%?F:9?;6?%=>3=%=>?%9?L=%>3D%;7=%P?=%L??;%Q3:9R%H;C?DD%
M1K
%
58=S%/J]K
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=>?%67;=838P%L?%EHCCP%Q87F?9S%7W'#*6*'%19%H'F=%P@%K/*-9%>:P?9%*7%
8?LH=%=>?%Q8?DHIQ=:7;R%789:;38:CPR%3%8?6?:Q=%7E%Q3PI?;=%IHD=%
L?%Q8?D?;=?9S%7K*('(%n%T,(,-,&%19%S4'#*'=%PU%K/*-9%P;B?9
XBY& H40$958(%)*&%*&A)%*(&)4&G)"%6#4Q&,-"%.#(%)*$
&
%
E22$&+%:E%=>?%7LC:<3=:7;%:D%3'*(+R%78%:E%:=%:D%4'-*),#5S
%
%
EF,0!-$G%8%3;9%Z%7O?%[%,/UURUUUR%?F:9?;6?9%LP%3%Q8:F3=?%
976HI?;=S
234% "E% =>?% Q8:F3=?% 976HI?;=% :D% E7H;9% :;% =>?% Q7DD?DD:7;% 7E% 8=%
O>7%:D%3%3'*(+%9?L=78R%O>3=%:D%=>?%Q8?DHIQ=:7;f
%
%
8VD9G%*>?%Q8?DHIQ=:7;%:D%=>3=%7;CP%8\4%9?L=%>3D%L??;%
8?I:==?9S
%
%
X$,4'(G%8\4%9?L=%:D%;7=%,/UURUUU%LH=%7;CP%,1URUUUe%:;%
7=>?8%O789DR%>:D%9?L=%:D%8?3CCP%9:D=:;6=%E87I%Z\4%9?L=S
2L4% "E%=>?%Q8:F3=?%976HI?;=%:D%E7H;9%:;%=>?%Q7DD?DD:7;%7E%8%O>7%
:D%3%D7C:938P%9?L=78R%O>3=%:D%=>?%Q8?DHIQ=:7;f
%
%
8VD9G%.:;6?%=>:D%:D%3%D7C:938P%7LC:<3=:7;R%=>?%Q8?DHIQV
=:7;%:D%=>3=%=>?%O>7C?%7LC:<3=:7;%2;7=%I?8?CP%8\4%D>38?4%>3D%
L??;%8?I:==?9S
264%
";%L7=>%63D?DR%I3P%=>?%Q8?DHIQ=:7;%L?%8?LH==?9f
%
%
8VD9G%B?DR%=>?%Q8?DHIQ=:7;%:;%L7=>%63D?D%63;%L?%7F?8V
67I?%LP%DHQ?8:78%67;=838P%?F:9?;6?S%7<%T,(#$4,%PC>?9
&
74(2& C?PB2& MS0& 40*9*'%#(%)*& )+& (S0& 84%*'%8#"& 60-(& $S#""&
0`(%*.9%$S& (S0& #''0$$)4Q& )-"%.#(%)*h& -9(& (S0& R#%104& )+& (S0&
"#((04&$S#""&"0#10&(S0&+)4504&%*&+)4'02&
!,VVJKMW
XCY& /0*9*'%#(%)*&)+&H4%*'%8#"&J`(%*.9%$S0$&7''0$$)4Q@&N9(&
K)(&e%'0;e04$#
%
%
*>:D%E7CC7OD%=>?%8HC?%7E%`366?DD78P%E7CC7OD%=>?%Q8:;6:Q3CSa
X?Y& J`#58"0
%
%
5% 8?I:DD:7;% 7E% =>?% Q?;3C=P% 97?D% ('+% 8?I:=% =>?% Q8:;6:Q3C%
M1M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%/J]MV/J]1
7LC:<3=:7;R%LH=%:E%=>?%Q8:;6:Q3C%9?L=%:D%67;97;?9R%=>?%Q?;3C=P%:D%
3CD7%67;97;?9S
&
74(2& C?PF2& 3(& %$& 840$9506& (S#(& (S0& #''0$$)4Q& )-"%.#(%)*&
)+& 8"06.0& S#$& -00*& 405%((06& RS0*& (S0& (S%*.& 8"06.06@& #+(04&
%($&60"%104Q&()&(S0&'406%()4@&%$&+)9*6&%*&(S0&8)$$0$$%)*&)+&(S0&
60-()4@&)4&)+&#&(S%46&804$)*&RS)&)R*$&(S0&(S%*.2&
!,VVJKMW
XCY& /05%$$%)*&)+&H"06.0
234% -7=?%>?8?%=>3=%7;CP%=>?%366?DD78P%7LC:<3=:7;%7E%QC?9<?%:D%
Q8?DHI?9% 8?I:==?9S% *>?% Q8:;6:Q3C% 7LC:<3=:7;% 2=>?% C73;4%
8?I3:;D%:;%E786?S
2L4% *>?% Q8?DHIQ=:7;% :D% 7;CP% )*4!"+,6-$R% E78% =>?% 9?L=78% 78%
=>?%=>:89%Q?8D7;%I3P%L?%:;%Q7DD?DD:7;%7E%=>?%Q87Q?8=P%LP%
=>?E=%78%L?63HD?%:=%>39%L??;%D?;=%E78%8?Q3:8DR%78%E78%D:I:C38%
63HD?DS
X?Y& /0#$)*&+)4&(S0&H40$958(%)*
&
%
"=%:D%?DD?;=:3C%:;%QC?9<?%=>3=%=>?%=>:;<%L?%9?C:F?8?9%=7%=>?%
68?9:=78R%78%=7%3%=>:89%Q?8D7;%LP%67II7;%3<8??I?;=S
XBY& H)$$0$$%)*&-Q&#&MS%46&H04$)*
&
%
*>?%C3O%D3PD%`78%7E%3%=>:89%Q?8D7;%O>7%7O;D%=>?%=>:;<Sa%
*>?8?E78?R%:E%=>?%=>:89%Q?8D7;%97?D%;7=%7O;%=>?%=>:;<R%=>?%Q8?V
DHIQ=:7;%97?D%;7=%38:D?S%5D%3%I3==?8%7E%E36=R%=>?%D=83;<?8%I3P%
WHD=%>3F?%E7H;9%:=%78%:=%I3P%>3F?%L??;%9?C:F?8?9%=7%>:I%7;CP%E78%
D3E?^??Q:;<S
G0'(%)*&F
!,KbIG3,K&,/&VJ/OJ/&,b&/3O\MG
&
74(2&C?P=2&MS0&)-"%.#(%)*&%$&0`(%*.9%$S06&+4)5&(S0&(%50&
(S0&'S#4#'(04$&)+&'406%()4&#*6&60-()4&#40&504.06&%*&(S0&$#50&
804$)*2&
M11
%
58=S%/J]1
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& jV04.04&)4&!)*+9$%)*d&L0!&*06
%
%
"=%:D%=>?%I??=:;<%:;%7;?%Q?8D7;%7E%=>?%XH3C:=:?D%7E%68?9:=78%
3;9% 9?L=78% O:=>% 8?DQ?6=% =7% =>?% D3I?% 7LC:<3=:7;S% 7>@% D,(&/$k%
X'0,(%@Q:?9
X?Y& /0#$)*&)4&N#$%$&+)4&V04.04
%
%
"E%3%9?L=78%:D%>:D%7O;%68?9:=78R%?;E786?I?;=%7E%=>?%7LC:<3V
=:7;%L?67I?D%3LDH89R%D:;6?%7;?%63;;7=%6C3:I%3<3:;D=%>:ID?CES%7<%
T,(#$4,%P@>?9
XBY& /0_9%$%(0$&)+&#&e#"%6&V04.04
234% "=%D>7HC9%=3^?%QC36?%L?=O??;%=>?%Q8:;6:Q3C%9?L=78%3;9%68?9:V
=78S%*>?8?E78?R%67;EHD:7;%7E%=>?%68?9:=78%O:=>%=>?%Q?8D7;%7E%
=>?%<H383;=78%97?D%;7=%?Z=:;<H:D>%=>?%Q8:;6:Q3C%7LC:<3=:7;S%
78#+9% :QC;?S% &E% 67H8D?R% :;% 3% 63D?% C:^?% =>:DR% =>?% 366?DD78P%
7LC:<3=:7;%7E%<H383;=P%:D%?Z=:;<H:D>?9S
%
%
*>?8?E78?%3CD7R%=>?8?%63;%L?%('%67;EHD:7;%78%I?8<?8%:E%
=>?%9?L=78%3;9%68?9:=78%8?Q8?D?;=%7)*22$#$(+?%WH8:9:63C%?;=:V
=:?D%?F?;%:E%=>?%7E!%6?8D%7E%L7=>%38?%=>?%.5A(S%7b,!*4,(,(%
(J% 0J,% T,(JJ,J,.,% 4,% TXX% 19% [#$)*+% _(*'(=% $+&9=% OA
:@PPQ=%T,5%QU=%:>;U?9
2L4% *>?%I?8<?8%IHD=%L?%6C?38%3;9%9?!%;:=?S%7W$4+,+$%E4+,+$%'2%
T'+,%19%D$##,=%@C%K/*-9%@;@?9
264%
*>?%F?8P%7LC:<3=:7;%:;F7CF?9%IHD=%L?%=>?%D3I?%78%:9?;=:V
63C%2L?63HD?%:E%=>?%9?L=78%36XH:8?D%6?8=3:;%8:<>=D%E87I%=>?%
68?9:=78%O:=>%8?DQ?6=%=7%'+/$#%=>:;<DR%=>?8?%:D%;7%I?8<?84S%
7W$4+,+$%E4+,+$%'2%T'+,%19%D$##,=%@C%K/*-9%@;@?9
%
%
2VSWEG%"E%3;%>?:8%:D%3%9?L=78%7E%=>?%9?6?3D?9R%I?8<?8%
97?D% ;7=% ;?6?DD38:CP% E7CC7OR% E78% 7=>?8% 68?9:=78D% I3P% L?%
Q8?WH9:6?9S4
XFY& J`#58"0&)+&V04.04
&
%
8%I3^?D%3%6>?6^%Q3P3LC?%=7%L?38?8R%3;9%>3;9D%=>?%6>?6^%
=7%[=%O>7%>3;9D%:=%=7%I%O>7%!%;3CCP%>3;9D%:=%=7%8S%+?8?%8%7O?D%
>:ID?CES%*>:D%:D%3%6C?38%63D?%7E%I?8<?8R%3;9%>?;6?%=>?%7LC:<3=:7;%
7E%8%:D%?Z=:;<H:D>?9S
M1N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J]1
X=Y& J++0'(&)+&M4#*$+04&)+&/%.S($
&
%
A?8?%=83;DE?8%=7%3%=>:89%Q?8D7;%7E%#*J/+4%L?C7;<:;<%=7%L7=>%
=>?%9?L=78%3;9%=>?%68?9:=78%bi*%('+%=>?%68?9:=%3D%3<3:;D=%=>?%
9?L=%97?D%;7=%8?DHC=%:;%I?8<?8S%7W$4+,+$%E4+,+$%'2%T'+,%19%D$##,=%
@C%K/*-9%@;@?9
%
EF,0!-$G
%
%
8% 3;9! Z% O?8?% 67V7O;?8D% 7E% 3% Q:?6?% 7E% Q87Q?8=P% O78=>%
,/RUUURUUUS%)78%D7I?%8?Q3:8D%=>?8?7;R%Z%Q3:9%,JUURUUUS%b?63HD?%
=>?P%O?8?%67V7O;?8DR%8%>39%=7%D>38?%:;%D3:9%?ZQ?;D?DR%3;9%D7%
8%7O?9%Z%,/UURUUUS%8%D7C9%>:D%D>38?%:;%=>?%Q87Q?8=P%=7%[%3;9%
Z%3CD7%D7C9%>:D%D>38?%:;%=>?%Q87Q?8=P%=7%[9%$3=?8%Z%L87H<>=%=>:D%
36=:7;%=7%8?67F?8%,/UURUUU%E87I%89%8%6C3:I?9%=>3=%D:;6?%[%:D%;7O%
=>?%7O;?8%7E%=>?%Q87Q?8=PR%[%'.$4%/*04$-2=%3;9%=>?8?E78?%D3:9%
I?8<?8%>39%?Z=:;<H:D>?9%>:D%9?L=%=7%ZS%.>7HC9%8%Q3P%Zf
%
%
8VD9G%B?DR%8%D>7HC9%Q3P%ZR%D:;6?%=>?8?%O3D%8?3CCP%;7%I?8<?8%
>?8?S%c>3=%>39%L??;%D7C9%=7%[%O?8?%=>?%>3CE%D>38?D%7E%?36>%7E%
=>?%67V7O;?8DR%78%,1UURUUU%O78=>%7E%Q87Q?8=P%E87I%?36>S%[%9:9%
;7=%36XH:8?%=>?%:;9?L=?9;?DD%7E%,/UURUUU%E78%=>?%8?Q3:8DR%>?;6?%
=>?8?%63;%L?%;7%I?8<?8%O:=>%8?E?8?;6?%=7%=>3=%9?L=S%25D%:IQC:?9%
E87I%=>?%63D?%7E%W$4+,+$%E4+,+$%'2%T'+,%19%D$##,=%@C%K/*-9%@;@?9
X<Y& J`(%*'(%)*&)+&/0#"&/%.S($
&
%
@?3C%8:<>=DR%DH6>%3D%HDHE8H6=%7F?8%Q87Q?8=PR%I3P%L?%?Z=:;V
<H:D>?9%LP%I?8<?8%O>?;%=>?%(,L$)%'.($#%>:ID?CE%L?67I?%=>?%
"4"2#"&+",#59
%
%
2VSWEG%*>:D%:D%3CD7%9?;7I:;3=?9%`67;D7C:93=:7;%7E%7O;?8V
D>:QSa4
%
EF,0!-$G
%
%
8%>39%=O7%L87=>?8D%Z%3;9%[9%8%<3F?%3%Q386?C%7E%C3;9%=7%Z%:;%
"4"2#"&+%28:<>=%=7%=>?%HD?%3;9%8:<>=%=7%=>?%E8H:=D4R%3;9%=>?%D3I?%
Q386?C%=7%[%:;%;3^?9%7O;?8D>:QS%"E%C3=?8%[%97;3=?D%=>?%;3^?9%
7O;?8D>:Q%7E%=>?%C3;9%=7%Z=%Z%O:CC%;7O%>3F?%=>?%EHCC%7O;?8D>:Q%
2>:D%7O;?8D>:Q%:D%67;D7C:93=?94R%3;9%:=%:D%3D%:E%0$#J$#%>39%8?V
DHC=?9S
XPY& /01)'#-%"%(Q&)+&!)*+9$%)*&)4&V04.04
&
%
"E% =>?% 8?3D7;% E78% =>?% 67;EHD:7;% &$,4$4R% =>?% 7LC:<3=:7;% :D%
@(#"#('S
M1]
%
58=S%/J]N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
XEY& J++0'(&%+&V)4(.#.00&N0')50$&(S0&,R*04&)+&(S0&V)4(.#.06&
H4)804(Q
&
%
"E%=>?%I78=<3<??%L?67I?D%=>?%7O;?8%7E%=>?%Q87Q?8=P%=>3=%>39%
L??;%I78=<3<?9%=7%>:IR%=>?%I78=<3<?%:D%;3=H83CCP%?Z=:;<H:D>?9R%
LH=%=>?%Q8:;6:Q3C%7LC:<3=:7;%I3P%8?I3:;S%7D$$%f$L%W'(%O*(%H*#$%
19%f"4*(J&'=%;@%K/*-9%:U;Q?9
%
EF,0!-$G
%
%
"%L7887O?9%,/RUUURUUU%E87I%IP%L87=>?8R%3;9%3D%D?6H8:=PR%
"%I78=<3<?9%IP%C3;9%:;%>:D%E3F78S%$3=?8%"%D7C9%=>?%C3;9%=7%>:IS%
*>?%I78=<3<?%:D%?Z=:;<H:D>?9%LH=%"%D=:CC%7O?%>:I%,/RUUURUUUS
%
%
2VSWEG%+39%>?%3DD:<;?9%>:D%68?9:=%7E%,/RUUURUUU%=7%3%E8:?;9%
3;9% =>?% E8:?;9% 3DD:<;?9% =>?% 68?9:=% =7% I?R% L7=>% =>?% Q8:;6:Q3C%
7LC:<3=:7;%3;9%=>?%I78=<3<?%38?%?Z=:;<H:D>?9S4
&
74(2&C?P<2&V04.04&RS%'S&(#T0$&8"#'0&%*&(S0&804$)*&)+&(S0&
84%*'%8#"&60-()4&)4&'406%()4&-0*0!&($&(S0&.9#4#*()4$2&!)*+9;
$%)*&RS%'S&(#T0$&8"#'0&%*&(S0&804$)*&)+&#*Q&)+&(S0&"#((04&6)0$&
*)(&0`(%*.9%$S&(S0&)-"%.#(%)*2&
!,VVJKMW
XCY& J++0'(&)+&V04.04&)*&O9#4#*()4$
&
%
`566?DD78P%E7CC7OD%=>?%Q8:;6:Q3Ca%2=>?%<H383;=P%L?:;<%67;V
D:9?8?9%=>?%366?DD78P%7LC:<3=:7;4e%>?;6?R%:E%=>?8?%:D%I?8<?8%O:=>%
8?DQ?6=%=7%=>?%Q8:;6:Q3C%9?L=R%=>?%<H383;=P%:D%?Z=:;<H:D>?9e%;7=?R%
>7O?F?8R%=>?%D?67;9%D?;=?;6?%7E%=>?%58=:6C?S
X?Y& J`#58"0$
234% 8%7O?D%Z%,]UURUUUR%<H383;=??9%LP%[9%Z%3DD:<;D%>:D%68?9:=%
=7%^9%^%3DD:<;D%=>?%68?9:=%=7%f9%f%3DD:<;D%=>?%68?9:=%=7%89%
8\4%7LC:<3=:7;%:D%?Z=:;<H:D>?9%3;9%[%:D%8?C?3D?9%E87I%>:D%
7LC:<3=:7;%3D%<H383;=78S
2L4% 8%7O?D%Z%,]UURUUUR%<H383;=??9%LP%[9%Z%3DD:<;D%>:D%68?9:=%
=7%^9%^%3DD:<;D%>:D%68?9:=%=7%f9%f%3DD:<;D%>:D%68?9:=%=7%[R%
=>?%<H383;=78S%'7?D%8%D=:CC%>3F?%=7%Q3P%[r
%
%
8VD9G%B?DS%+7O?F?8R%=>?%67;=836=%7E%<H383;=P%:D%?ZV
=:;<H:D>?9R%LH=%;7=%8\4%7LC:<3=:7;%=7%Q3P%=>?%,]UURUUUS
M10
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%/J]]V/J]0
XBY& H4)-"05$
234% 8%7O?D%Z%O:=>%[\4%C3;9%<:F?;%3D%D?6H8:=P%LP%O3P%7E%I78=V
<3<?S%$3=?8%Z%L?67I?D%=>?%7O;?8%7E%7;?V=>:89%7E%[\4%C3;9%
2D3:9%7;?V=>:89%D>38?%>3F:;<%L??;%D7C9%78%97;3=?9%=7%>:I%
LP%[4S%"D%=>?%0'#+J,J$%?Z=:;<H:D>?9f
%
%
8VD9G% *>?% I78=<3<?% :D% ?Z=:;<H:D>?9% 8?<389:;<% Z\4%
7;?V=>:89%D>38?%7E%=>?%C3;9%L?63HD?%7E%I?8<?8S%*>:D%:D%?F:V
9?;=%L?63HD?%7=>?8O:D?R%:E%=>?%9?L=%:D%;7=%Q3:9R%Z%O7HC9%
>7C9%/*4%'.(%!#'!$#+5%3D%D?6H8:=P%3;9%=>:D%O7HC9%L?%3LDH89S%
+7O?F?8R%=>?%I78=<3<?%67;=:;H?D%=7%DHLD:D=%7;%=>?%+.'A
+/*#)4%7E%=>?%C3;9%D=:CC%L?C7;<:;<%=7%[9
2L4% .HQQ7D?%:;%=>?%Q8?6?9:;<%Q87LC?IR%Z%L?63I?%=>?%7O;?8%7E%
=>?%O>7C?%7E%[\4%C3;9R%O>3=%>3QQ?;D%=7%=>?%I78=<3<?f
%
%
8VD9G% )78% =>?% D3I?% 8?3D7;% >?8?:;3L7F?% <:F?;R% =>?%
I78=<3<?% :D% 67IQC?=?CP% ?Z=:;<H:D>?9S% +7O?F?8R% 97?D% 8\4%
9?L=%:;%E3F78%7E%Z%D=:CC%?Z:D=f%*>?%3;DO?8%:D%?F:9?;=CP%B(.R%
E78%?Z=:;<H:D>I?;=%7E%=>?%366?DD78P%7LC:<3=:7;%97?D%;7=%LP%
:=D?CE%?Z=:;<H:D>%=>?%Q8:;6:Q3C%7LC:<3=:7;%O>:6>%:D%=>?%-',(9%
*>:D%=:I?R%>7O?F?8R%:=%O7HC9%L?%3%63D?%7E%3%-',(%.*+/'"+%
4$&"#*+59
!
74(2&C?PP2&!)*+9$%)*&6)0$&*)(&0`(%*.9%$S&#&U)%*(&)-"%.#(%)*&
0`'08(&#$&40.#46$&(S0&$S#40&')440$8)*6%*.&()&(S0&'406%()4&)4&
60-()4&%*&RS)5&(S0&(R)&'S#4#'(04$&')*'942&
!,VVJKMW
&
V04.04&%*&A)%*(&,-"%.#(%)*$
&
8%3;9%Z%W7:;=CP%7O?%[%,/RUUURUUUS%"E%[%3DD:<;D%=>?%?;=:8?%
%
68?9:=%=7%8=%8\4%D>38?%:D%?Z=:;<H:D>?9R%LH=%Z\4%D>38?%8?I3:;DS%";%
7=>?8%O789DR%Z%O7HC9%D=:CC%7O?%8%=>?%DHI%7E%,1UURUUUS%";%3%W7:;=%
7LC:<3=:7;R%=>?%9?L=D%38?%9:D=:;6=%3;9%D?Q383=?%E87I%?36>%7=>?8S
G0'(%)*&=
!,VHJKG7M3,K
&
74(2&C?PE2&!)580*$#(%)*&$S#""&(#T0&8"#'0&RS0*&(R)&804;
$)*$@& %*& (S0%4& )R*& 4%.S(@& #40& '406%()4$& #*6& 60-()4$& )+& 0#'S&
)(S042&
M1d
%
58=S%/J]0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& j!)580*$#(%)*d&L0!&*06
234% `"=%:D%3%D78=%7E%6,-,(&*(J%2&"0%!'()$#%]%n=7%O?:<>%=7<?=>?8_4%
L?=O??;%=O7%7LC:<3=:7;De%:=%:;F7CF?D%3%!%<H83=:F?%7Q?83=:7;%
7E% O?:<>:;<% =O7% 7LC:<3=:7;D% D:IHC=3;?7HDCP% :;% 789?8% =7%
?Z=:;<H:D>%=>?I%=7%=>?%?Z=?;=%:;%O>:6>%=>?%3I7H;=%7E%7;?%
:D%67F?8?9%LP%=>?%7=>?8Sa%7<%T,(#$4,%P;;?9
2L4% "=%:D%=>?%?Z=:;<H:D>I?;=%:;%=>?%&'(&"##$(+%3I7H;=%7E%=>?%
7LC:<3=:7;D%7E%=>7D?%Q?8D7;D%O>7%38?%8?6:Q8763CCP%9?L=78D%
3;9% 68?9:=78D% 7E% ?36>% 7=>?8S% 7[,4+,(=% I$#$&/'=% [*1*-% E4A
!,m'-=%!9%;:?9
X?Y& I$0+9"*0$$&)+&!)580*$#(%)*
&
%
";%?EE?6=R%:=%:D%3%DQ?6:?%7E%,66#$1*,+$)%!,50$(+%O>:6>%<:F?D%
=7%?36>%7E%=>?%Q38=:?D%3%97HLC?%39F3;=3<?G
234% `E36:C:=P%7E%Q3PI?;=e
2L4% <H383;=P%E78%=>?%?EE?6=:F?;?DD%7E%=>?%68?9:=%L?63HD?%:E%7;?%
7E%=>?%Q38=:?D%Q3PD%?F?;%O:=>7H=%O3:=:;<%=7%L?%Q3:9%LP%=>?%
7=>?8R%>?%67HC9%?3D:CP%L?%I39?%3%F:6=:I%7E%E83H9%78%:;D7CV
F?;6PS__%7[,4+,(=%I$#$&/'=%[*1*-%E4!,m'-=%!!9%;:A;Q?9
%
%
";9??9R%:=%:D%4*0!-*!%$)%78%,66#$1*,+$)%!,50$(+=%L?V
63HD?%=>?%=O7%9?L=D%38?%?Z=:;<H:D>?9%O:=>7H=%8?XH:8:;<%=>?%
=83;DE?8%7E%I7;?P%78%Q87Q?8=P%E87I%7;?%Q38=P%=7%=>?%7=>?8S%
7WD=%T,5%::=%:>Q;?9
%
%
2VSWEG% ";% L3;^:;<% 7Q?83=:7;DR% 3% `6C?38:;<% >7HD?a%
=3^?D%638?%7E%67IQ?;D3=:7;%:;%L3;^:;<%3667H;=DS4
XBY& j!)580*$#(%)*d&L%$(%*.9%$S06&+4)5&jH#Q50*(d
234% c>:C?%Q3PI?;=%IHD=%L?%67IQC?=?%3;9%:;9:F:D:LC?%3D%3%8HC?R%
:;%67IQ?;D3=:7;R%Q38=:3C%?Z=:;<H:D>I?;=%:D%3CO3PD%Q?8I:=V
=?9S%7D$$%<%N$'#J*=%W$'#*,%)$%-,4%S6-*J,&*'($4=%!!9%Q@AQB?9
2L4% c>:C?%Q3PI?;=%:;F7CF?D%36=:7;%78%9?C:F?8PR%+#"$%67IQ?;D3V
=:7;%2C?<3C%67IQ?;D3=:7;4%=3^?D%QC36?%LP%7Q?83=:7;%7E%C3OS
XFY& j!)580*$#(%)*d&L%$(%*.9%$S06&+4)5&jV04.04d
234% 5D%=7%=>?%;HIL?8%7E%Q?8D7;DG
MNU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J]0
%
%
R(% &'(2"4*'(=% =>?8?% :D% 7;CP% 7;?% Q?8D7;% :;% O>7I% :D%
I?8<?9%=>?%XH3C:=:?D%7E%68?9:=78%3;9%9?L=78S
%
%
R(%&'0!$(4,+*'(=%=>?8?%IHD=%L?%=O7%Q?8D7;D%O>7%38?%
IH=H3CCP%68?9:=78%3;9%9?L=78%=7%?36>%7=>?8S
2L4% 5D%=7%=>?%;HIL?8%7E%7LC:<3=:7;DG
%
%
R(%&'(2"4*'(=%=>?8?%63;%L?%7;CP%7;?S
%
%
R(%&'0!$(4,+*'(=%=>?8?%IHD=%L?%=O7S
X=Y& j!)580*$#(%)*d& L%$(%*.9%$S06& +4)5& j!)9*(04'"#%5d& )4&
jG0(;)++d
234% `5%D?=V7EE%78%3%67H;=?86C3:I%IHD=%L?%QC?39?9%=7%L?%?EE?6=H3CR%
O>?8?3D% 67IQ?;D3=:7;% =3^?D% QC36?% LP% I?8?% 7Q?83=:7;% 7E%
C3OR%3;9%?Z=:;<H:D>?D%8?6:Q8763CCP%=>?%=O7%9?L=D%3D%D77;%3D%
=>?P%?Z:D=%D:IHC=3;?7HDCPR%=7%=>?%3I7H;=%7E%=>?:8%8?DQ?6=:F?%
DHIDSa%7::%O,%8((=%BQUh%:;%O,%8((=%:<:h%&*+$)%*(%+/$%&,4$%
'2%f,!%_(L*%19%[/",%Y,0&'=%:@%K/*-9%;UQ?9
2L4% 5%D?=V7EE%78%67H;=?86C3:I%O78^D%3D%3%D78=%7E%3")*&*,-%&'0A
!$(4,+*'(R%Q87F:9?9%=>3=%=>?%8?XH:8?I?;=D%7E%=>?%@HC?D%7E%
!7H8=R%Q38=:6HC38CP%7;%!7H;=?86C3:ID%3;9o78%!87DDV6C3:ID%
38?%7LD?8F?9S%7D$$%D$&9%Q=%X"-$%>=%X$1*4$)%X"-$4%'2%['"#+?9
X<Y& k%*6$&)4&!"#$$0$&)+&!)580*$#(%)*
234% 566789:;<%=7%:=D%$22$&+%78%$F+$(+G
2/4% W'+,-% ]% :E% L7=>% 7LC:<3=:7;D% 38?% 67IQC?=?CP% ?Z=:;V
<H:D>?9% L?63HD?% =>?P% 38?% 7E% =>?% D3I?% 78% ?XH3C%
3I7H;=DS
2J4% K,#+*,-%Y%O>?;%3%L3C3;6?%8?I3:;D%2>?;6?R%=>?8?%:D%3%
!,#+*,-%67IQ?;D3=:7;%:;%=>?%-,#J$#%7E%=>?%=O7%)$6+44S
2L4% 566789:;<%=7%:=D%'#*J*(%78%&,"4$G
/4%
O$J,-%]%=>:D%=3^?D%QC36?%LP%7Q?83=:7;%7E%C3OR%3;9%;??9%
;7=%L?%QC?39?9S
J4%
d'-"(+,#5%'#%&'(1$(+*'(,-%Y%=>:D%:D%9H?%=7%=>?%3<8??V
I?;=%7E%=>?%Q38=:?DS
MN/
%
58=S%/J]0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
K4%
Y")*&*,-%23CD7%=?8I?9%`D?=V7EEa4%Y%=>:D%IHD=%L?%QC?39V
?9e%:=%63;%L?%I39?%?EE?6=:F?%7;CP%LP%3;%789?8%E87I%=>?%
67H8=S%7D$$%f,!%19%[/",%Y,0&'=%:@%K/*-9%;UQh%D$$%,-4'%
8#+9%:Q<P=%[*1*-%[')$?9
M4%
H,&"-+,+*1$%Y%>?8?R%7;?%7E%=>?%Q38=:?D%>3D%=>?%6>7:6?%7E%
&-,*0*(J%=>?%67IQ?;D3=:7;%78%7E%7QQ7D:;<%:=%2Q?8>3QD%
L?63HD?%;7=%3CC%=>?%8?XH:D:=?D%7E%C?<3C%67IQ?;D3=:7;%
38?%Q8?D?;=4S
%
EF,0!-$%'2%H,&"-+,+*1$%['0!$(4,+*'(G
%
%
8% 7O?D% Z% ,/% I:CC:7;% 9?I3;93LC?% 3;9% 9H?% 7;%
g3;S%/JR%JUUMS%Z%7O?D%8%,/%I:CC:7;%9?I3;93LC?%3;9%
9H?%'(%'#%6$2'#$%g3;S%K/R%JUUMS%&;%g3;S%/JR%JUUM%Z=%
O>7% O3D% <:F?;% =>?% L?;?!%=% 7E% =>?% =?8IR% I3P% &-,*0%
67IQ?;D3=:7;% L?63HD?% >?% 67HC9% =>?;% 6>77D?% =7% Q3P%
>:D%9?L=%7;%D3:9%93=?R%O>:6>%:D%`7;%78%6$2'#$%g3;S%K/R%
JUUMSa%"ER%HQ7;%=>?%7=>?8%>3;9%8%6C3:ID%67IQ?;D3=:7;R%
Z%63;%Q87Q?8CP%'!!'4$%:=%L?63HD?%Z%67HC9%;7=%L?%I39?%
=7%Q3P%H;=:C%g3;S%K/R%JUUMS
%
%
7VSWEG%"=%D>7HC9%L?%7LD?8F?9%=>3=%O>:C?%E36HC=3V
=:F?%67IQ?;D3=:7;%:D%"(*-,+$#,-%3;9%97?D%;7=%8?XH:8?%
IH=H3C% 3<8??I?;=R% 1'-"(+,#5% '#% &'(1$(+*'(,-% &'0A
!$(4,+*'(%8?XH:8?D%0"+",-%&'(4$(+9?
XPY& ZS0*&!)580*$#(%)*&!#**)(&J`%$(
&
%
i;9?8%=>?%C3OR%=>?%=O7%Q?8D7;D%67;6?8;?9%38?%68?9:=78D%3;9%
9?L=78D%7E%?36>%7=>?8e%=>?8?E78?R%3%9?L=78%7E%3%678Q783=:7;%63;;7=%
67IQ?;D3=?%>:D%9?L=%O:=>%>:D%4/,#$%'2%4+'&L%*(%+/$%&'#!'#,+*'(R%
D:;6?% =>?% 678Q783=:7;% :D% ;7=% 67;D:9?8?9% >:D% 9?L=78S% 7N,#&*,% 19%
O*0%[/"%D*(J=%B>%K/*-9%B;Q?9%"=%O7HC9%>3F?%L??;%)*22$#$(+%>39%
=>?%678Q783=:7;%8?3CCP%L??;%>:D%9?L=78%3D%O>?;%>?%>39%Q3:9%:=%3%
DHI%J#$,+$#%=>3;%=>?%F3CH?%7E%>:D%D>38?DS%7Z#*0'%19%N'-)$(6$#J%
,()%['9=%R(&9=%@U%S9N9%c;+/%De%V'9%:U=%!9%:>>?9
&
&
O#4'%#&12&:%5&!S9&G%*.
=D&HS%"2&=<?
&
%
H8[WDG%'?E?;93;=%:D%=>?%7O;?8%7E%D>38?D%7E%D=76^%7E%=>?%
A?863;=:C?%b3;^%7E%!>:;3%3I7H;=:;<%=7%,/URUUUS%$3=?8R%=>?%9?V
E?;93;=%L7887O?9%I7;?P%E87I%=>?%b3;^%3I7H;=:;<%=7%,dRNU1S/]%
MNJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J]0
O:=>% :;=?8?D=% =>?8?7;% 3=% Nk% !$#% ,(("0S% *>?% 9?L=% O3D% =7% L?%
Q3:9%:;%:;D=3CCI?;=DS%&;?%7E%=>?%67;9:=:7;D%7E%=>?%9?L=%67;=836=%
:D%=>3=%:;%63D?%7E%=>?%9?L=78_D%9?E3HC=%:;%=>?%Q3PI?;=%7E%3;P%7E%
=>?%:;D=3CCI?;=D%3D%=>?P%L?67I?%9H?R%=>?%?;=:8?%3I7H;=%78%=>?%
H;Q3:9%L3C3;6?%=>?8?7E%O:CC%L?67I?%9H?%3;9%Q3P3LC?%7;%9?I3;9S%
*>?%9?E?;93;=%9?E3HC=?9%:;%=>?%Q3PI?;=%7E%D?F?83C%:;D=3CCI?;=D%
3;9%QC3:;=:EE%L87H<>=%=>:D%36=:7;%=7%8?67F?8%=>?%H;Q3:9%L3C3;6?S%
*>?% 9?E?;93;=% QC?39?9% 67IQ?;D3=:7;S% R44"$G% !3;% 9?E?;93;=_D%
9?L=%L?%67IQ?;D3=?9%O:=>%=>?%D>38?D%7E%D=76^%>?%7O;Df
%
%
`EOIG%*>?8?%63;%L?%;7%67IQ?;D3=:7;%L?63HD?%8?<389:;<%
=>?%D>38?D%7E%D=76^R%=>?8?%*4%('%8?C3=:7;D>:Q%7E%)$6+'#%,()%&#$)*A
+'#9%D,*)%+/$%D"!#$0$%['"#+G
%
%
`5% D=76^>7C9?8_D% :;9?L=?9;?DD% =7% 3% L3;^:;<% 678Q783=:7;%
63;;7=% L?% 67IQ?;D3=?9% O:=>% =>?% 3I7H;=% 7E% >:D% D>38?D% :;% =>?%
D3I?%:;D=:=H=:7;R%=>?8?%L?:;<%;7%8?C3=:7;%7E%68?9:=78%3;9%9?L=78%
O:=>%8?<389D%=7%DH6>%D>38?DS__
%
%
`566789:;<%=7%=>?%O?:<>=%7E%3H=>78:=PR%3%D>38?%7E%D=76^%78%
=>?%6?8=:!%63=?%=>?8?7E%:D%;7=%3;%:;9?L=?9;?DD%=7%=>?%7O;?8%;78%
?F:9?;6?%7E%:;9?L=?9;?DDR%3;9R%=>?8?E78?R%:=%:D%;7=%3%68?9:=S%7:@%
['#!"4%Y"#*4=%!9%P<<=%D$&9%B::?9%.=76^>7C9?8DR%3D%DH6>R%38?%;7=%
68?9:=78D%7E%=>?%678Q783=:7;S%7:@%['#!"4%Y"#*4=%!9%<@<=%D$&9%:Q<>?9%
"=% :D% =>?% Q8?F3:C:;<% 976=8:;?% 7E% =>?% 5I?8:63;% 67H8=DR% 8?Q?3=V
?9CP%3DD?8=?9%:;%=>?%L8739?D=%=?8IDR%=>3=%=>?%63Q:=3C%D=76^%7E%3%
678Q783=:7;%:D%3%=8HD=%EH;9%=7%L?%HD?9%I78?%Q38=:6HC38CP%E78%=>?%
D?6H8:=P%7E%=>?%68?9:=78D%7E%=>?%678Q783=:7;R%O>7%Q8?DHI3LCP%9?3C%
O:=>%:=%7;%=>?%68?9:=%7E%:=D%63Q:=3C%D=76^S%7:@%['#!"4%Y"#*4=%!9%P<P=%
D$&9%BUB?9%*>?8?E78?R%=>?%9?E?;93;=V3QQ?CC3;=%$:I%!>H%.:;<R%;7=%
L?:;<%3%68?9:=78%7E%=>?%A?863;=:C?%b3;^%7E%!>:;3R%3C=>7H<>%=>?%
C3==?8%:D%3%68?9:=78%7E%=>?%E78I?8R%=>?8?%:D%;7%DHE!%6:?;=%<87H;9%=7%
WHD=:EP%3%67IQ?;D3=:7;Sa%78&"m,%['%[/'(J&'%19%I*$1,4=%:Q%K/*-9%
QBU?9\\
&
&
N4%5)&12&O)"60*-04.&#*6&!)2@&3*'2
<D&HS%"2&=>?
&
%
H8[WDG%b8:I7%O3D%3%D=76^>7C9?8%3;9%3%=8?3DH8?8%7E%3%678V
Q783=:7;S%b8:I7%Q3:9%3%DHI%<8?3=?8%=>3;%=>?%F3CH?%7E%>:D%D>38?DR%
3;9%O3D%=>?8?E78?%3%68?9:=78%=7%=>3=%?Z=?;=%2=>?%?Z6?DDR%LH=%;7=%
3D%=7%=>?%F3CH?%7E%=>?%D>38?DR%E78%>?8?R%>?%:D%;7=%3%68?9:=784S%5D%
MNK
%
58=S%/J]0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=8?3DH8?8R% b8:I7% 7O?9% =>?% 678Q783=:7;% 3% 6?8=3:;% DHIS% R44"$G%
A3P%b8:I7_D%68?9:=%L?%67IQ?;D3=?9%O:=>%>:D%:;9?L=?9;?DD%3D%
=8?3DH8?8f
%
%
`EOIG%B?DR%L?63HD?%L7=>%38?%9?L=D%3;9%68?9:=DS
&
&
b4#*'%#&12&37!
O/&<P<FD@&A9*2&?E@&CDEE
%
%
";=?8;3C%8?F?;H?%=3Z?D%63;;7=%L?%=>?%DHLW?6=%7E%67IQ?;V
D3=:7;S% @?3D7;G% <7F?8;I?;=% 3;9% =3ZQ3P?8% `38?% ;7=% IH=H3CCP%
68?9:=78D%7E%?36>%7=>?8a%H;9?8%58=S%/J]0%7E%=>?%!:F:C%!79?%3;9%3%
`6C3:I%E78%=3Z?D%:D%;7=%DH6>%3%9?L=R%9?I3;9R%67;=836=%78%WH9<I?;=%
3D%:D%3CC7O?9%=7%L?%D?=V7EES__
%
%
*>?8?%63;%L?%;7%7EED?==:;<%7E%=3Z?D%3<3:;D=%=>?%6C3:ID%=>3=%
=>?%=3ZQ3P?8%I3P%>3F?%3<3:;D=%=>?%<7F?8;I?;=S%5%Q?8D7;%63;;7=%
8?EHD?%=7%Q3P%3%=3Z%7;%=>?%<87H;9%=>3=%=>?%<7F?8;I?;=%7O?D%>:I%
3;%3I7H;=%?XH3C%=7%78%<8?3=?8%=>3;%=>?%=3Z%L?:;<%67CC?6=?9S%*>?%
67CC?6=:7;%7E%3%=3Z%63;;7=%3O3:=%=>?%8?DHC=%7E%3%C3ODH:=%3<3:;D=%
=>?%<7F?8;I?;=S
&
&
M#*&12&V0*60a
O/&CBE<<D@&A9*2&<@&?>>?
%
%
H8[WDG%*>?%I?I783;9HI%D>7OD%=>3=%D7I?%H;?;63D>?9%
6>?6^D%8?=H8;?9%=7%8?DQ7;9?;=%=7%3CC?<?9CP%7EED?=%=>?%9:D>7;78?9%
6>?6^%O?8?%E87I%=>?%b337%=:6^?=%D3C?D%O>:6>%38?%D?Q383=?%E87I%
=>?%=:6^?=%D3C?D%7E%8?DQ7;9?;=S%+?8?R%8?DQ7;9?;=%7;CP%36=?9%3D%
3;%:;=?8I?9:38P%:;%8?I:==:;<%=>?%b337%=:6^?=%D3C?DS
%
%
`EOIG%b?63HD?%7E%8?DQ7;9?;=_D%87C?%3D%I?8?%:;=?8I?9:38PR%
>?%:D%;7=%3%9?L=78%7E%Q?=:=:7;?8DS%-7%67IQ?;D3=:7;%63;%=3^?%QC36?%
L?=O??;%Q?=:=:7;?8D%3;9%8?DQ7;9?;=%3D%=>?%C3==?8%:D%;7=%3%9?L=78%
7E%=>?%E78I?8%:;D7E38%3D%=>?%=O7%6>?6^D%8?Q8?D?;=:;<%67CC?6=:7;D%
E87I%=>?%b337%=:6^?=%D3C?D%38?%67;6?8;?9S
&
&
!#4")$&12&7-0"#46)&
O/&CF<=>F@&7842&D@&?>>?
%
%
H8[WDG% '?E?;93;=V>HDL3;9% :;% :;F7^:;<% =>?% 9?E?;D?%
7E% 67IQ?;D3=:7;% 38<H?D% =>3=% :E% :;9??9% >?% 3;9% >:D% DQ7HD?% 38?%
:;9?L=?9%=7%QC3:;=:EER%=>?%C3==?8%67HC9%>3F?%3QQC:?9%=>?:8%D>38?%
MNM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J]d
:;%=>?%Q876??9D%78%:;67I?%7E%=>?%678Q783=:7;%=7%=>?%67;6H88?;=%
3I7H;=%7E%=>?%3CC?<?9%C73;R%:;D=?39%7E%<:F:;<%=>?%3I7H;=%7E%,K%
I:CC:7;%=7%=>?IS%R44"$G%"D%=>:D%38<HI?;=%=?;3LC?f
%
%
`EOIG%*>:D%38<HI?;=%:D%H;=?;3LC?S%5D%58=S%/J]0%:;9:63=?DR%
67IQ?;D3=:7;%:D%3%D78=%7E%L3C3;6:;<%L?=O??;%=O7%7LC:<3=:7;DS%";%
=>?%:;D=3;=%63D?R%67IQ?;D3=:7;%:D%3%D78=%7E%L3C3;6:;<%L?=O??;%=O7%
7LC:<3=:7;DS%";%=>?%:;D=3;=%63D?R%QC3:;=:EE%3;9%9?E?;93;=V>HDL3;9%
38?%;7=%9?L=78D%3;9%68?9:=78D%7E%?36>%7=>?8S%(F?;%<83;=:;<%=>3=%
=>?%9?E?;93;=V>HDL3;9_D%6C3:I%=7%=>?%Q87!%=D%7E%=>?%678Q783=:7;%
:D%WHD=:!%?9R%D=:CC%67IQ?;D3=:7;%63;;7=%?Z=:;<H:D>%>:D%C73;%7LC:<3V
=:7;%=7%QC3:;=:EE%L?63HD?%H;9?8%DH6>%3DDHIQ=:7;R%=>?%9?E?;93;=%
:D%9?3C:;<%O:=>%=>?%678Q783=:7;%3;9%;7=%O:=>%=>?%QC3:;=:EE%:;%>:D%
Q?8D7;3C%63Q36:=PS%+?;6?R%67IQ?;D3=:7;%63;;7=%=3^?%QC36?S
&
74(2&C?PD2&3*&)4604&(S#(&')580*$#(%)*&5#Q&-0&84)804@&%(&
%$&*0'0$$#4QW
&
XCY& MS#(&0#'S&)*0&)+&(S0&)-"%.)4$&-0&-)9*6&84%*'%8#""Q@&
#*6&(S#(&S0&-0&#(&(S0&$#50&(%50&#&84%*'%8#"&'406%()4&)+&(S0&
)(S04h
&
X?Y& MS#(&-)(S&60-($&')*$%$(&%*&#&$95&)+&5)*0Q@&)4&%+&(S0&
(S%*.$&690&#40&')*$95#-"0@&(S0Q&-0&)+&(S0&$#50&T%*6@&#*6&#"$)&
)+&(S0&$#50&_9#"%(Q&%+&(S0&"#((04&S#$&-00*&$(#(06h
&
XBY& MS#(&(S0&(R)&60-($&-0&690h
&
XFY& MS#(&(S0Q&-0&"%_9%6#(06&#*6&605#*6#-"0h
&
X=Y& MS#(&)104&*0%(S04&)+&(S05&(S040&-0&#*Q&40(0*(%)*&)4&
')*(4)104$Q@&')550*'06&-Q&(S%46&804$)*$&#*6&')559*%'#(06&
%*&690&(%50&()&(S0&60-()42&
!,VVJKMW
XCY& :0.#"&!)580*$#(%)*&)4&!)580*$#(%)*&-Q&,804#(%)*&)+&
:#R
%
%
*>?% 8?XH:D:=?D% ?;HI?83=?9% H;9?8% 58=S% /J]d% 38?% =>7D?%
E78%$(h5$%67IQ?;D3=:7;e%1'-"(+,#5%67IQ?;D3=:7;%:;%<?;?83C%
8?XH:8?D%('%8?XH:D:=?%?Z6?Q=%=>3=%=>?%3<8??I?;=%L?%F7CH;=38:CP%
3;9%F3C:9CP%?;=?8?9%:;=7S
MN1
%
58=S%/J]d
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X?Y& 7+!&45#(%10&/0_9%$%(0$&+)4&:0.#"&!)580*$#(%)*
%
%
R+$04%7:?=%7Q?=%7P?%,()%7@?%'2%8#+9%:QC>%,#$%+/$%,2!%#0,+*1$%
#$a"*4*+$49
XBY& K0.#(%10&/0_9%$%(0$&+)4&:0.#"&!)580*$#(%)*
234% &F?8%($*+/$#%7E%=>?%9?L=D%IHD=%=>?8?%L?%3;P%#$+$(+*'(%78%67;V
=87F?8DP%&'00$(&$)%LP%+/*#)%!$#4'(4%3;9%67IIH;:63=?9%
:;%9H?%=:I?%=7%=>?%9?L=78S%7K,#9%B=%8#+9%:QC>?9%*>HDR%=>?8?%
63;% L?% ;7% C?<3C% 67IQ?;D3=:7;% O>?;% 7;?_D% 6C3:I% 3<3:;D=%
3;7=>?8%:D%D=:CC%=>?%DHLW?6=%7E%&'"#+%-*+*J,+*'(9%7T*,*-/$%19%
`,-*-*=%OA:;B<C=%S&+9%P:=%:>;Q?9
2L4% *>?8?%IHD=%>3F?%L??;%;7%.,*1$#%7E%=>?%67IQ?;D3=:7;%2DH6>%
O3:F?8%&'"-)%/,1$%6$$(%1,-*)-5%,J#$$)%7;R%D:;6?%=>:D%O7HC9%
;7=%L?%67;=838P%=7%QHLC:6%Q7C:6P4S%7T,(#$4,?9
264%
*>?% 67IQ?;D3=:7;% 7E% =>?% 9?L=D% 0"4+% ;7=% >3F?% L??;% Q87V
>:L:=?9% LP% C3OS% *>?% 67IQ?;D3=:7;% 7E% =>?% E7CC7O:;<% 38?%
Q87>:L:=?9G
/4%
9?L=D%38:D:;<%E87I%3%)$!'4*+"0%2?Z6?Q=%L3;^%9?Q7D:=DR%
O>:6>%38?%LP%C3O%67;D:9?8?9%3D%C73;D%=7%=>?%L3;^4%78#+9%
:Q<Ch%8#+9%:><U=%[*1*-%[')$?h
J4%
9?L=D%38:D:;<%E87I%=>?%7LC:<3=:7;D%7E%3%)$!'4*+'#5%78#+9%
:Q<C=%[*1*-%[')$?h
K4%
9?L=D%38:D:;<%E87I%=>?%7LC:<3=:7;D%7E%3%6,*-$$%*(%&'0A
0'),+"0%2C:^?%=>?%L7887O?8%7E%3%L:6P6C?4%78#+9%:Q<C=%
[*1*-%[')$?h
M4%
9?L=D%38:D:;<%E87I%3%6C3:I%E78%EH=H8?%DHQQ78=%9H?%LP%
<83=H:=7HD%=:=C?%78#+9%:Q<C=%[*1*-%[')$?h
14%
9?L=D%67;D:D=:;<%:;%&*1*-%-*,6*-*+5%38:D:;<%E87I%3%Q?;3C%
7EE?;D?%78#+9%:Q<<=%[*1*-%[')$?h
N4%
93I3<?D%DHEE?8?9%LP%3%Q38=;?8D>:Q%=>8H%=>?%2,"-+%7E%
3% Q38=;?8% &,(('+% L?% 67IQ?;D3=?9% O:=>% !#'!%+4% 3;9%
L?;?!%=D%O>:6>%>?%I3P%>3F?%$,#($)%2'#%+/$%!,#+($#A
4/*!%LP%>:D%:;9HD=8PS%78#+9%:C>@=%[*1*-%[')$?9%X$,4'(4G%
.:;6?%=>?%Q38=;?8%>3D%=>?%9H=P%=7%7L=3:;%L?;?!%=D%E78%
=>?%!%8IR%3;9%3%9H=P%;7=%=7%L?%3=%E3HC=R%=>?8?%63;%L?%('%
67IQ?;D3=:7;%L?63HD?%L7=>%38?%)"+*$4=%3;9%=>?%Q38=V
MNN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J]d
;?8%:D%=>?%9?L=78%:;%6'+/%:;D=3;6?DS%7D$$%::%T,(#$4,%
PCC?9
%
%
cVSWEG% *>?% 67H8=D% I3PR% >7O?F?8R% ?XH:=3LCP%
C?DD?;%=>:D%8?DQ7;D:L:C:=P%7E%=>?%Q38=;?8R%:ER%=>8H%=>?%
Q38=;?8_D%$F+#,'#)*(,#5%?EE78=D%:;%7=>?8%36=:F:=:?D%7E%
=>?%Q38=;?8D>:QR%H;HDH3C%Q87!%=D%>3F?%L??;%8?3C:T?9S%
78#+9%:C>@=%[*1*-%[')$?9e
XFY& MS0&b%4$(&7+!&45#(%10&/0_9%$%(0
&
%
`*>3=%?36>%7E%=>?%7LC:<78D%L?%L7H;9%!#*(&*!,--5=%3;9%=>3=%
>?%L?%3=%=>?%D3I?%=:I?%3%!#*(&*!,-%&#$)*+'#%'2%+/$%'+/$#9j
234% H*#4+-5R%=>?8?%IHD=%L?%3%#$-,+*'(4/*!%7E%9?L=78%3;9%68?9:V
=78S
2L4% D$&'()-5R%=>?8?%IHD=%L?%+.'%9?L=D%3;9%+.'%68?9:=DS
264%
W/*#)-5R%=>?P%IHD=%J$($#,--5%L?%L7H;9%3D%!#*(&*!,-4%23;9%
;7=%:;%=>?:8%8?Q8?D?;=3=:F?%63Q36:=P4S
%
EF,0!-$G
%
%
N=%,4%J",#)*,(%E78%M=%:D%3%68?9:=78%7E%I9%I%:;%=H8;%:D%3%
68?9:=78%7E%N%O>7%7O?D%>:I%3%!$#4'(,-%9?L=S%*>?8?%63;%L?%
-&%67IQ?;D3=:7;%L?63HD?%:=%:D%M%O>7%:D%=>?%8?3C%68?9:=78R%
;7=%N9
%
8('+/$#%$F,0!-$G
%
%
8=%9?L=78%7E%+.'%!,#+($#4=%63;;7=%67IQ?;D3=?%=>?%9?L=%
O:=>%O>3=%=>?%!,#+($#4/*!%:=D?CE%7O?D%>?8S%7E4&,('%19%`$*#4%
'2%E4&,('=%Q<%K/*-9%CP?9
%
8('+/$#%$F,0!-$G
%
%
5%9?L=78%7O?D%3%68?9:=78%,/%I:CC:7;%LH=%=>?%68?9:=78%
7O?D%=>?%)$6+'#\4%J",#,(+'#%,/%I:CC:7;S%*>?%9?L=78%&,(('+%
6C3:I% 67IQ?;D3=:7;S% 2+&c(#(@R% 3% J",#,(+'#% I3P% D?=%
HQ% 67IQ?;D3=:7;% 3D% 8?<389D% O>3=% =>?% &#$)*+'#% 0,5% '.$%
+/$%!#*(&*!,-%)$6+'#9%*>?%8?3D7;%:D%D:IQC?G%"E%=>?%Q8:;6:Q3C%
7LC:<3=:7;%:D%?Z=:;<H:D>?9R%=>?%366?DD78P%7LC:<3=:7;%7E%<H38V
3;=P%:D%3CD7%?Z=:;<H:D>?9S4%7D$$%8#+9%:Q<U=%[*1*-%[')$?9
MN]
%
58=S%/J]d
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X=Y& MS0&G0')*6&7+!&45#(%10&/0_9%$%(0
%
%
`*>3=%L7=>%9?L=D%67;D:D=%:;%3%4"0%'2%0'($5=%78%:E%=>?%=>:;<D%
9H?%38?%&'(4"0,6-$%72"(J*6-$?R%=>?P%L?%7E%=>?%D3I?%^:;9R%3;9%
3CD7%7E%=>?%D3I?%XH3C:=P%:E%=>?%C3==?8%>3D%L??;%D=3=?9Sa
234% *>?%O789%`67;DHI3LC?a%IHD=%L?%=3^?;%=7%I?3;%`EH;<:LC?a%
2DHD6?Q=:LC?%7E%DHLD=:=H=:7;R%:E%DH6>%L?%=>?%:;=?;=:7;4S
2L4% EF,0!-$G
%
%
8%7O?D%Z%3%E7H;=3:;%Q?;%2<?;?8:64S%Z%7O?D%8%3CD7%3%
E7H;=3:;% Q?;% 2<?;?8:64S% *>?8?% 63;% L?% 67IQ?;D3=:7;% >?8?%
L?63HD?% =>?% 7LW?6=D% 38?% 2"(J*6-$% 23C=>7H<>% ;7=% 67;DHIV
3LC?4S
%
%
[VSWEG%+39%DQ?6:!%6%E7H;=3:;%Q?;D%L??;%3<8??9%HQ7;R%
=>?8?%63;%L?%('%67IQ?;D3=:7;%2C?<3C%67IQ?;D3=:7;4S\
%
%
[VSWEG% *?;% D36^D% 7E% 678;% 63;;7=% L?% 67IQ?;D3=:7;%
2C?<3C%67IQ?;D3=:7;4%E78%=?;%D36^D%7E%8:6?S\
X<Y& MS0&MS%46&7+!&45#(%10&/0_9%$%(0
%
%
`*>3=%=>?%=O7%9?L=D%L?%)"$Sa
234% `'H?a%I?3;D%=>3=%=>?%!$#*')%/,4%,##*1$)=%78%=>?%&'()*+*'(%
/,4%6$$(%2"-!%--$)9%&;%=>?%7=>?8%>3;9R%i)$0,(),6-$j%I3P%
8?E?8%=7%=>?%E36=%=>3=%;?:=>?8%7E%=>?%9?L=D%>3D%Q8?D68:L?9R%
78%=>3=%=>?%7LC:<3=:7;%:D%;7=%:;F3C:9%78%:CC?<3CS
2L4% .7C:=3% 7O?D% (9IH;97% ,/% I:CC:7;% Q3P3LC?% 5Q8S% /R% JUU1S%
(9IH;97%7O?D%.7C:=3%,/%I:CC:7;%Q3P3LC?%gH;S%0R%JUU1S%!3;%
=>?8?%L?%C?<3C%67IQ?;D3=:7;%7;%5Q8S%/R%JUU1f
%
%
8VD9G%-7R%E78%7;?%7E%=>?%9?L=D%:D%('+%P?=%9H?S%+7O?F?8R%
=>?8?%63;%L?%F7CH;=38P%67IQ?;D3=:7;%HQ7;%3<8??I?;=S%7D$$%
8#+9%:Q<Q=%[*1*-%[')$?9
XPY& MS0&b)94(S&7+!&45#(%10&/0_9%$%(0
&
%
`*>3=%=>?P%L?%-*a"*),+$)%3;9%)$0,(),6-$Sa
234% )78%=>?%I?3;:;<%7E%i)$0,(),6-$=j%4$$%&'00$(+%V'9%;7,?9
2L4% "E%7;?%7E%=>?%9?L=D%>3D%3C8?39P%Q8?D68:L?9R%=>?8?%63;%L?%;7%
67IQ?;D3=:7;%7<%T,(#$4,%@::?%E78%=>?%D:IQC?%8?3D7;%=>3=%
D3:9%9?L=%:D%;7%C7;<?8%9?I3;93LC?S
MN0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
264%
58=S%/J]d
`$:XH:93=?9a%9?L=D%38?%=>7D?%O>?8?%=>?%?Z36=%3I7H;=%>3D%
3C8?39P%L??;%9?=?8I:;?9R%=>7H<>%;7=%;?6?DD38:CP%:;%!%<H8?D%
D:;6?%63Q36:=P%7E%L?:;<%388:F?9%3=%LP%D:IQC?%38:=>I?=:63C%
Q876?DD?D%O7HC9%L?%?;7H<>S%"E%93I3<?D%38?%3D^?9%E78R%3;9%
=>?%3I7H;=%:D%9:DQH=?9R%=>?%9?L=%63;;7=%L?%D3:9%=7%L?%3CV
8?39P%3%`C:XH:93=?9a%7;?S%7['0!,(*,%N$($#,-%)$%W,6,&'4%
19%H#$(&/%,()%_(4'(=%P>%K/*-9%P@?9%&;6?%C:XH:93=?9%LP%3%
WH9<I?;=R%>7O?F?8R%3%D?=V7EE%3D^?9%E78%:;%3%67H;=?86C3:I%
O7HC9%L?%Q87Q?8S%7<%T,(#$4,%@U>A@:U?9
&
&
&
!)58#*%#&O0*04#"&60&M#-#')$&12&
b40*'S&#*6&I*$)*
BD&HS%"2&BF
!
%
H8[WDG% 5% Q8:F3=?% 67II7;% 6388:?8% =83;DQ78=?9% <3D7C:;?%
E78%=>?%<7F?8;I?;=%2bH8?3H%7E%.HQQCP4%E78%,KJJSdKS%*>?%5H9:V
=78%h?;?83CR%>7O?F?8R%O3;=?9%=7%9?9H6=%E87I%D3:9%3I7H;=%=>?%
93I3<?D% =>?% 6388:?8% >39% 63HD?9% =7% =>?% 638<7% 7E% <3D7C:;?R% LH=%
D3:9%93I3<?D%O?8?%D=:CC%H;9?=?8I:;?9%3;9%H;C:XH:93=?9S%R44"$G%
"D%3%D?=V7EE%Q87Q?8f
%
%
`EOIG%*>?8?%63;%L?%-&%D?=V7EE%78%67IQ?;D3=:7;%E78%=>?%
3CC?<?9%93I3<?%63HD?9%O3D%D=:CC%"(-*a"*),+$)R%3;9%67HC9%('+%P?=%
=>?8?E78?%L?%D?=V7EE%3<3:;D=%=>?%<7F?8;I?;=%C:3L:C:=PS%`i;C:XH:V
93=?9%93I3<?Da%63;;7=%L?%D3:9%=7%L?%`9?L=Da%7O:;<%=>?%<7F?8;V
I?;=S
&
&
G#"%*#8&12&A96.0&60"&/)$#4%)
O/&=><BE@&A9"2&?=@&CDEB
%
%
!7IQ?;D3=:7;%=3^?D%QC36?%7;CP%:E%L7=>%7LC:<3=:7;D%38?%C:XV
H:93=?9S%*>?8?E78?R%:=%63;;7=%=3^?%QC36?%:E%7;?_D%6C3:I%3<3:;D=%
=>?%7=>?8%:D%D=:CC%=>?%DHLW?6=%7E%67H8=%C:=:<3=:7;S
&
&
H040a&12&!)94(&)+&7880#"$
:;=<C>C@&b0-2&?>@&CDEF
%
%
"E%=>?%C73;%:;D=8HI?;=D%:;=?;9?9%=7%L?%D?=%7EE%3<3:;D=%?36>%
7=>?8%38?%;7=%P?=%9H?%3;9%9?I3;93LC?R%=>?8?%63;;7=%L?%67IQ?;V
D3=:7;S
MNd
%
58=S%/J0U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
XEY& MS0&b%4$(&K0.#(%10&/0_9%$%(0
&
%
`*>3=%7F?8%($*+/$#%7E%=>?%9?L=D%IHD=%=>?8?%L?%3;P%#$+$(+*'(%
78%&'(+#'1$#45%67II?;6?9%LP%+/*#)%Q?8D7;D%3;9%&'00"(*&,+$)%
*(%)"$%+*0$%=7%=>?%9?L=78Sa
%
EF,0!-$G
%
%
8%7O?D%Z%,/UURUUUR%3;9%Z%7O?D%8%,/UURUUUR%LH=%8\4%68?9:=%
7E%,/UURUUU%>3D%L??;%J,#(*4/$)%LP%[%O>7%6C3:ID%=7%L?%3;%H;Q3:9%
68?9:=78%7E%89%Z%>3D%L??;%9HCP%;7=:!%?9%7E%=>?%67;=87F?8DPS%*>?8?%
63;% L?% -&% 67IQ?;D3=:7;% >?8?S% 7D$$% X"-$% BC=% D$&9% <=% X$1*4$)%
X"-$4%'2%['"#+%'(%N,#(*4/0$(+?9%5;P%Q7DD:LC?%67IQ?;D3=:7;%:D%
:;%=>?%I?3;=:I?%DHDQ?;9?9S%"E%[%O:;D%>:D%6C3:IR%=>?8?%63;%L?%
;7%67IQ?;D3=:7;e%:E%>?%C7D?DR%=>?%67;=87F?8DP%:D%8?D7CF?9R%3;9%
67IQ?;D3=:7;%63;%=3^?%QC36?S%7<%T,(#$4,%@UC?9
!
74(2&C?E>2&K)(R%(S$(#*6%*.&(S0&84)1%$%)*$&)+&(S0&840'06;
%*.&#4(%'"0@&(S0&.9#4#*()4&5#Q&$0(&98&')580*$#(%)*&#$&40.#46$&
RS#(&(S0&'406%()4&5#Q&)R0&(S0&84%*'%8#"&60-()42&
!,VVJKMW
XCY& O9#4#*()4& V#Q& G0(& I8& !)580*$#(%)*& Z%(S& /0$80'(& ()&
H4%*'%8#"&L0-(
234% *>:D%:D%3;%$F&$!+*'(%=7%58=S%/J]dR%Q38S%/R%L?63HD?%3%<H383;V
=78%:D%.ib."'"5@"$BR%;7=%Q8:;6:Q3CCPR%L7H;9S
2L4% X$,4'(% 2'#% +/$% -,.G% (Z=:;<H:D>I?;=% 2Q38=:3C% 78% =7=3C4% 7E%
Q8:;6:Q3C%7LC:<3=:7;%?Z=:;<H:D>?D%2Q38=:3CCP%78%=7=3CCP4%=>?%
<H383;=P%2O>:6>%:D%I?8?CP%3;%366?DD78P%7LC:<3=:7;4S
X?Y& J`#58"0$
234% 8% 7O?D% Z% ,1UURUUUS% [% :D% =>?% <H383;=78% 7E% 89% Z% 7O?D% 8%
,/UURUUUS%c>?;%Z%DH?D%8%3;9%8%63;;7=%Q3PR%E78%>7O%IH6>%
O:CC%[%L?%C:3LC?f
%
8VD9G%[%O:CC%L?%C:3LC?%E78%7;CP%,MUURUUUR%L?63HD?%>?%63;%
D?=% HQ% =>?% ,/UURUUU% 68?9:=% 7E% 8% 3D% =>?% L3D:D% E78% Q38=:3C%
67IQ?;D3=:7;S
2L4% 8% 7O?D% Z% ,1UURUUUS% [% :D% =>?% <H383;=78% 7E% 89% Z% 7O?D% [%
,1UURUUUS%c>?;%Z%DH?D%8%E78%=>?%,1UURUUUR%I3P%8%DH66?DDV
M]U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%/J0/V/J0K
EHCCP%QH=%HQ%=>?%9?E?;D?%7E%67IQ?;D3=:7;%:;%=>3=R%3E=?8%3CCR%
>:D%68?9:=78%7Z?%7O?D%[%=>?%D3I?%3I7H;=f
%
%
8VD9G% *>?8?% 63;% L?% ;7% 67IQ?;D3=:7;% >?8?% L?63HD?%
:;%=>?%7LC:<3=:7;%O>:6>%[%<H383;=??9%E78%8=%>?%7[?%:D%;7=%
L7H;9%:;%>:D%7O;%8:<>=S%-?:=>?8%:D%8%=>?%68?9:=78%7E%Z9
%
%
2VSWEG%"E%8%63;;7=%Q3P%3;9%Z%DH?D%=>?%<H383;=PR%[%
O:CC%;7=%L?%C:3LC?%3;PI78?%L?63HD?%=>?%7LC:<3=:7;%7E%<H38V
3;=P%>3D%L??;%?Z=:;<H:D>?9%LP%67IQ?;D3=:7;S4
&
74(2&C?EC2&!)580*$#(%)*&5#Q&-0&()(#"&)4&8#4(%#"2&ZS0*&(S0&
(R)&60-($&#40&)+&(S0&$#50&#5)9*(@&(S040&%$&#&()(#"&')580*$#;
(%)*2&
!,VVJKMW
&
M)(#"&)4&H#4(%#"&!)580*$#(%)*
&
%
*>?%58=:6C?%:D%=8H?%E78%3CC%=>?%9:EE?8?;=%^:;9D%7E%67IQ?;D3V
=:7;R%O>?=>?8%F7CH;=38PR%C?<3CR%$+&9
&
74(2&C?E?2&MS0&8#4(%0$&5#Q&#.400&98)*&(S0&')580*$#(%)*&
)+&60-($&RS%'S&#40&*)(&Q0(&6902
!,VVJKMW
&
!)*10*(%)*#"&)4&e)"9*(#4Q&!)580*$#(%)*
234% *>:D%3QQC:?D%=7%67;F?;=:7;3C%78%F7CH;=38P%67IQ?;D3=:7;S
2L4% 5D%3%I3==?8%7E%E36=R%=>?%8?XH:D:=?D%I?;=:7;?9%:;%58=S%/J]d%
97%('+%3QQCPS
264%
"=%:D%DHE!%6:?;=%:;%67;F?;=:7;3C%67IQ?;D3=:7;%=>3=%=>?%3<8??V
I?;=%78%67;=836=%O>:6>%)$&-,#$4%=>?%67IQ?;D3=:7;%D>7HC9%
:=D?CE%L?%F3C:9e%=>HD%3I7;<%7=>?8%=>:;<DR%=>?%Q38=:?D%IHD=%
>3F?%-$J,-%&,!,&*+5%3;9%IHD=%2#$$-5%J*1$%+/$*#%&'(4$(+9
&
74(2&C?EB2&3+&)*0&)+&(S0&8#4(%0$&()&#&$9%(&)104&#*&)-"%.#(%)*&
S#$&#&'"#%5&+)4&6#5#.0$&#.#%*$(&(S0&)(S04@&(S0&+)4504&5#Q&$0(&
%(&)++&-Q&84)1%*.&S%$&4%.S(&()&$#%6&6#5#.0$&#*6&(S0&#5)9*(&
(S040)+2
M]/
%
58=S%/J0K
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& A96%'%#"&!)580*$#(%)*&)4&G0(;)++
234% *>:D% 8?E?8D% =7% WH9:6:3C% 67IQ?;D3=:7;% 78% D?=V7EES% K-$,)*(J%
,()%!#''2%7E%=>?%67H;=?86C3:I%IHD=%L?%I39?S
2L4% 5CC%=>?%8?XH:D:=?D%I?;=:7;?9%:;%58=S%/J]d%IHD=%L?%Q8?D?;=R%
?Z6?Q=%=>3=%3=%=>?%=:I?%7E%QC?39:;<R%=>?%6C3:I%;??9%('+%P?=%
L?%C:XH:93=?9S%*>?%C:XH:93=:7;%278%!%Z:;<%7E%=>?%Q87Q?8%DHI4%
IHD=%L?%I39?%:;%=>?%Q876??9:;<DS
264%
i;C?DD%QC?39:;<%3;9%Q877E%38?%I39?R%=>?%67H8=%&,(('+%7E%
:=D%7O;%366789%9?6C38?%=>?%67IQ?;D3=:7;S%*>:D%:D%L?63HD?%7E%
`=>?%DHQQC:63=78P%6>3836=?8%7E%7H8%6:F:C%Q876?9H8?Sa%7X$5$4%n%
K"('=%S"+-*($%'2%[*1*-%O,.=%d'-9%Rd=%!9%:B;=%&*+*(J%[,4+,(=%
I$%Z"$(?9%*>?%67IQ?;D3=:7;%=3^?D%QC36?%LP%=>?%WH9<I?;=R%
3D% =7% =>?% 93=?% =>?% 67IQ?;D3=:7;% O3D% QC?39?9S% 7X$5$4% n%
K"('=%*)9?9
X?Y& A94%$6%'(%)*& )+& (S0& !)94(& /0.#46%*.& (S0& e#"90& )+& (S0&
L05#*6
%
%
N$($#,-%X"-$G%*>?%WH8:D9:6=:7;%7E%=>?%67H8=%9?Q?;9D%HQ7;%
=>?%+'+,-*+5%'2%+/$%)$0,()%:;%3CC%=>?%63HD?D%7E%36=:7;R%*##$4!$&+*1$%
7E%O>?=>?8%=>?%QCH83C%63D?D%387D?%7H=%7E%=>?%4,0$%'#%)*22$#$(+%
+#,(4,&+*'(49% 7D'#*,('% 19% S0*-*,=% B:% S9N9% V'9% C=% !9% P@;B% ,()%
[,0!'4%X"$),%['#!'#,+*'(%19%D+,9%[#"k%W*06$#%['9=%BQ%S9N9%
V'9%P=%!9%:P<C?9
%
EF&$!+*'(4G
234% c>?8?% =>?% 6C3:I% W7:;?9% H;9?8% =>?% D3I?% 67IQC3:;=% 38?%
D?Q383=?CP%7O?9%LPR%78%9H?%=7R%9:EE?8?;=%Q38=:?DR%:;%O>:6>%
63D?%?36>%D?Q383=?%6C3:I%EH8;:D>?D%=>?%WH8:D9:6=:7;3C%=?D=S%
78#J'(k,=%$+%,-9%19%R(+$#(,+*'(,-%['--$J$4=%OAP<<@=%V'19%Q>=%
:>B:%,()%D'#*,('%5%[*,%19%D,(%Y'4$=%@C%S9N9%:Q+/%D"!!9=%
!9%:B;?9
2L4% c>?8?%('+%,--%=>?%63HD?D%7E%36=:7;%W7:;?9%38?%9?I3;9D%78%
6C3:ID%E78%I7;?PS%7H$-*F%d),9%)$%X'4,#*'%19%Y"4+*&$%'2%+/$%
K$,&$%'2%[,0*-*(J=%$+%,-9=%OA>Q<@=%Y"-9%P:=%:>B;=%BQ%S9N9%
V'9%B:BQ?9
%
%
cVSWEG%!7;D?XH?;=:3C%93I3<?D%3;9%3==78;?P_D%E??DR%
O>?;% Q87Q?8CP% 6C3:I?9% 3;9% 8?67F?83LC?% 3D% 3;% :=?I% 7E%
M]J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%/J0MV/J01
93I3<?R%38?%('+%$F&-")$)%E87I%=>?%WH8:D9:6=:7;3C%3I7H;=S%
7D",($4%19%8-0$),AO'!$k=%CP%K/*-9%BCP?9e
&
74(2&C?EF2&ZS0*&)*0&)4&-)(S&60-($&#40&40$'%$$%-"0&)4&1)%6;
#-"0@&(S0Q&5#Q&-0&')580*$#(06&#.#%*$(&0#'S&)(S04&-0+)40&(S0Q&
#40&U96%'%#""Q&40$'%*606&)4&#1)%6062
!,VVJKMW
XCY& !)580*$#(%)*& %*& (S0& !#$0& )+& /0$'%$$%-"0& )4& e)%6#-"0&
L0-($
%
%
@?D6:DD:LC?%78%F7:93LC?%9?L=D%38?%F3C:9%"(+*-%8?D6:;9?9%78%
F7:9?9e%>?;6?R%67IQ?;D3=:7;%:D%3CC7O?9S
X?Y& H4010*(%)*&)+&I*+#%4*0$$
&
%
*7%3F7:9%H;E3:8;?DD%:E%8?D6:DD:7;%78%3;;HCI?;=%:D%-,+$#%7;%
9?68??9%LP%=>?%67H8=R%:=%:D%3D%:E%-&%67IQ?;D3=:7;%?F?8%=77^%QC36?S%
*>?%9?68??%=>HD%36=D%8?=8736=:F?CPS
%
EF,0!-$G
%
%
8%7O?D%Z%,/%I:CC:7;S%$3=?8R%8%E786?9%Z%=7%D:<;%3%Q87I:DV
D78P%;7=?%E78%,/%I:CC:7;%:;%8\4%E3F78S%*>?%!%8D=%9?L=%:D%F3C:9e%=>?%
D?67;9%:D%F7:93LC?S%bH=%:E%3CC%=>?%8?XH:D:=?D%E78%C?<3C%67IQ?;D3V
=:7;%38?%Q8?D?;=R%L7=>%9?L=D%38?%?Z=:;<H:D>?9%D:;6?%Z\4%9?L=%:D%
('+%5$+%,(("--$)9%*>:D%:D%7LF:7HDCP%H;E3:8%:ER%C3=?8%7;R%Z\4%9?L=%
:D%3;;HCC?9%LP%=>?%67H8=S%*>HD%>?8?R%=>?%67IQ?;D3=:7;%=>3=%>3D%
=3^?;%QC36?%O:CC%L?%&,(&$--$)9
&
74(2&C?E=2&MS0&60-()4&RS)&S#$&')*$0*(06&()&(S0&#$$%.*;
50*(&)+&4%.S($&5#60&-Q&#&'406%()4&%*&+#1)4&)+&#&(S%46&804$)*@&
'#**)(&$0(&98&#.#%*$(&(S0&#$$%.*00&(S0&')580*$#(%)*&RS%'S&
R)9"6&804(#%*&()&S%5&#.#%*$(&(S0&#$$%.*)4@&9*"0$$&(S0&#$$%.*)4&
R#$&*)(%!&06&-Q&(S0&60-()4&#(&(S0&(%50&S0&.#10&S%$&')*$0*(@&
(S#(&S0&40$04106&S%$&4%.S(&()&(S0&')580*$#(%)*2
&
3+& (S0& '406%()4& ')559*%'#(06& (S0& '0$$%)*& ()& S%5& -9(&
(S0&60-()4&6%6&*)(&')*$0*(&(S040()@&(S0&"#((04&5#Q&$0(&98&(S0&
')580*$#(%)*& )+& 60-($& 8401%)9$& ()& (S0& '0$$%)*@& -9(& *)(& )+&
$9-$0_90*(&)*0$2
M]K
%
58=S%/J01
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
3+&(S0&#$$%.*50*(&%$&5#60&R%(S)9(&(S0&T*)R"06.0&)+&(S0&
60-()4@&S0&5#Q&$0(&98&(S0&')580*$#(%)*&)+&#""&'406%($&84%)4&
()&(S0&$#50&#*6&#"$)&"#(04&)*0$&9*(%"&S0&S#6&T*)R"06.0&)+&(S0&
#$$%.*50*(2
!,VVJKMW
XCY& J++0'(&)+&7$$%.*50*(&)*&!)580*$#(%)*&)+&L0-($
&
%
i;9?8% 58=S% /JdUR% `O>?;% 3CC% =>?% 8?XH:D:=?D% I?;=:7;?9% :;%
58=S%/J]d%38?%Q8?D?;=R%67IQ?;D3=:7;%=3^?D%?EE?6=%LP%'!$#,+*'(%'2%
-,.=%3;9%$F+*(J"*4/$4%L7=>%9?L=D%=7%=>?%67;6H88?;=%3I7H;=R%?F?;%
=>7H<>%=>?%68?9:=78D%3;9%9?L=78D%38?%('+%,.,#$%7E%=>?%67IQ?;V
D3=:7;Sa%*>HDR%67IQ?;D3=:7;%=3^?D%QC36?%3H=7I3=:63CCP%78%*!4'%
3"#$9%-7O%=>?;R%:E%5)*(@%67IQ?;D3=:7;%>3D%=3^?;%QC36?%7;?%7E%
=>?%?Z=:;<H:D>?9%9?L=D%:D%5.."h-('%=7%3%D=83;<?8R%789:;38:CP%
=>:D%O7HC9%L?%3%HD?C?DD%36=%D:;6?%=>?8?%:D%('+/*(J%0'#$%=7%3DD:<;S%
*>?%9?E?;D?%7E%67IQ?;D3=:7;%67HC9%=>?;%L?%D?=%HQS
%
%
*>?8?%:D%&-(%?Z6?Q=:7;%=7%D3:9%8HC?R%3;9%=>:D%=3^?D%QC36?%
O>?;% =>?% 3DD:<;I?;=% 23E=?8% 67IQ?;D3=:7;% >3D% 3C8?39P% =3^?;%
QC36?4% O3D% I39?% c"*+% *+(% !&-.(-*% 7E% =>?% 9?L=78S% .H6>%
67;D?;=%7Q?83=?D%3D%3%c5"#(@%7E%=>?%8:<>=D%=7%67IQ?;D3=:7;S
%
%
*>?%$F&$!+*'(%+'%+/$%$F&$!+*'(%766H8D%O>?;%`3=%=>?%=:I?%>?%
<3F?%>:D%67;D?;=R%>?%@(.(@#('%>:D%8:<>=%=7%=>?%67IQ?;D3=:7;Sa%
7D$$%<%T,(#$4,=%!!9%@:PA@:@?9
X?Y& MS0&MS400&!#$0$&!)10406&-Q&(S0&74(%'"0
234% *>?% 3DD:<;I?;=% I3P% L?% I39?% O:=>% =>?% &'(4$(+% 7E% =>?%
9?L=78S%7K,#9%:=%8#+9%:Q<B?9
2L4% *>?% 3DD:<;I?;=% I3P% L?% I39?% O:=>% =>?% ^;7OC?9<?% LH=%
O:=>7H=%=>?%67;D?;=%278%3<3:;D=%=>?%O:CC4%7E%=>?%9?L=78S%7K,#9%
Q=%8#+9%:Q<B?9
264%
*>?%3DD:<;I?;=%I3P%L?%I39?%.*+/'"+%=>?%^;7OC?9<?%7E%
=>?%9?L=78S%7K,#9%P=%8#+9%:Q<B?9
XBY& MS0&b%4$(&!#$0&m&MS0&7$$%.*50*(&5#Q&-0&V#60&Z%(S&(S0&
!)*$0*(&)+&(S0&L0-()4&nG00&#"$)&!)550*(&K)2&XCY&9*604&
(S%$&74(%'"0o
%
%
E22$&+G%!7IQ?;D3=:7;%63;;7=%L?%D?=%HQ%2L?63HD?%=>?8?%>3D%
L??;%&'(4$(+%3;9R%+/$#$2'#$R%3%O3:F?84S
M]M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J01
%
%
EF&$!+*'(G%"E%=>?%8:<>=%=7%=>?%67IQ?;D3=:7;%2=>3=%>3D%3C8?39P%
=3^?;%QC36?4%:D%8?D?8F?9S
%
EF,0!-$G
%
%
8%7O?D%Z%,/RUUURUUUS%Z%:;%=H8;%7O?D%8%,JUURUUUS%b?63HD?%
L7=>%9?L=D%38?%3C8?39P%9H?R%3;9%L?63HD?%3CC%7=>?8%8?XH:D:=?D%E78%
C?<3C% 67IQ?;D3=:7;% 38?% Q8?D?;=R% L7=>% 9?L=D% 38?% ?Z=:;<H:D>?9%
3H=7I3=:63CCP%HQ%=7%=>?%3I7H;=%7E%,JUURUUUS%$3=?8%>7O?F?8R%Z=%
O:=>%=>?%67;D?;=%7E%8=%3DD:<;?9%>:D%7Z\4?%,/RUUURUUU%68?9:=%=7%[9%
+7O%IH6>%63;%[%67CC?6=%DH66?DDEHCCP%E87I%8f
%
%
8VD9G%[%63;%67CC?6=%E87I%8%=>?%O>7C?%,/RUUURUUUS%8%&,(('+%
D?=%HQ%=>?%9?E?;D?%7E%67IQ?;D3=:7;%3D%7E%=>?%,JUURUUU%:;%F:?O%
7E%>:D%67;D?;=%=7%=>?%3DD:<;I?;=S
%
%
2VSWEG%+39%8%8?D?8F?9%>:D%8:<>=%=7%=>?%67IQ?;D3=:7;R%8%
O7HC9%L?%E786?9%=7%<:F?%7;CP%,0UURUUUS4
%
%
cVSWEG%,38S%/%7E%58=S%/J01%3QQC:?D%O>?=>?8%=>?%67;D?;=%=7%
=>?%&$44*'(%O3D%b()&@(%78%5)*(@%=>?%9?L=D%L?63I?%67IQ?;V
D3LC?S%7<%T,(#$4,%@:PA@:@?9e
XFY& MS0&G0')*6&!#$0&m&7$$%.*50*(&V#60&Z%(S&(S0&k*)R";
06.0&-9(&Z%(S)9(&(S0&!)*$0*(&)4&7.#%*$(&(S0&Z%""&)+&(S0&
L0-()42
&
%
E22$&+G%!7IQ?;D3=:7;%63;%L?%D?=%HQ%8?<389:;<%9?L=D%!#$1*A
'"4%=7%=>?%&$44*'(%78%3DD:<;I?;=S%*>:D%8?E?8D%=7%9?L=D%0,+"#*(J%
6$2'#$%+/$%,44*J(0$(+%2=>3=%:DR%L?E78?%=>?%-&*"!(4e%>?;6?%>?8?R%
C?<3C%67IQ?;D3=:7;%>3D%3C8?39P%=3^?;%QC36?S
%
EF,0!-$4G
234% 8%7O?D%Z%,/RUUURUUUS%Z%7O?D%8%,JUURUUUS%b7=>%9?L=D%38?%
3C8?39P%9H?S%$3=?8%Z=%O:=>%=>?%^;7OC?9<?%LH=%.*+/'"+%=>?%
67;D?;=%278%3<3:;D=%=>?%O:CC4%7E%8=%3DD:<;?9%=>?%,/RUUURUUU%
68?9:=%=7%[S%+7O%IH6>%63;%[%DH66?DDEHCCP%67CC?6=%E87I%8f
%
8VD9G%"E%8%D?=D%HQ%=>?%9?E?;D?%7E%Q38=:3C%67IQ?;D3=:7;%3D%
=7%!#$1*'"4-5%0,+"#*(J%9?L=DR%[%63;%67CC?6=%7;CP%,0UURUUUS%
*>?8?%>39%3C8?39P%L??;%67IQ?;D3=:7;%O:=>%8?DQ?6=%=7%=>?%
,JUURUUUS
M]1
%
58=S%/J01
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2L4% 8%7O?D%Z%,/RUUURUUU%9H?%7;%5Q8S%Je%Z%7O?D%8%,JUURUUU%
9H?% 3CD7% 7;% 5Q8S% JS% &;% )?LS% M% 2O>?;% =>?8?% O3D% ;7% C?<3C%
67IQ?;D3=:7;%P?=4R%Z%3DD:<;?9%>:D%,/RUUURUUU%68?9:=%=7%[=%
O:=>%=>?%^;7OC?9<?%LH=%O:=>7H=%=>?%67;D?;=%7E%89%&;%5Q8S%
JR%>7O%IH6>%63;%[%DH66?DDEHCCP%67CC?6=%E87I%8f
%
%
8VD9G% ,/RUUURUUUR% L?63HD?% :E% 3=% 3CC% =>?8?% O7HC9% L?%
67IQ?;D3=:7;% >?8?R% :=% =77^% QC36?% ,2+$#% =>?% 3DD:<;I?;=R%
;7=%L?E78?S%"=%97?D%;7=%I3==?8%=>3=%=>?%,JUURUUU%>39%L??;%
:;6H88?9%Q8:78%=7%=>?%&$44*'(R%E78%O>?;%=>?%C3O%DQ?3^D%7E%
`9?L=D%Q8?F:7HD%=7%=>?%&$44*'(Ra%:=%8?E?8D%=7%9?L=D%0,+"#*(J%
6$2'#$%=>?%&$44*'(%2;7=%=7%9?L=D%:;6H88?9%Q8:78%=7%DH6>%&$4A
4*'(%O>:6>%>3F?%;7=%P?=%I3=H8?9%L?E78?%D3:9%&$44*'(4S
X=Y& MS0&MS%46&!#$0&m&7$$%.*50*(&V#60&Z%(S)9(&(S0&k*)R";
06.0&)+&(S0&L0-()4
%
%
E22$&+G% '?L=78% 63;% D?=% HQ% 67IQ?;D3=:7;% 3D% 3% 9?E?;D?% E78%
3CC%9?L=D%0,+"#*(J%KXRSX%=7%>:D%L('.-$)J$%7E%=>?%3DD:<;I?;=%
2O>?=>?8%=>?%9?L=D%I3=H8?9%6$2'#$%78%,2+$#%+/$%,44*J(0$(+4S
%
%
2VSWEG%*>?%68H6:3C%=:I?%>?8?%:D%=>?%+*0$%'2%L('.-$)J$%7E%
=>?%3DD:<;I?;=R%('+%=>?%=:I?%7E%3DD:<;I?;=%:=D?CES4
%
EF,0!-$G
%
%
8% 7O?D% Z% ,/RUUURUUUS% Z% 7O?D% 8% :;% =H8;% ,JUURUUUS% b7=>%
9?L=D%38?%3C8?39P%9H?S%$3=?8=%Z%3DD:<;D%=>?%,/RUUURUUU%68?9:=%=7%
[=%O:=>7H=%=>?%^;7OC?9<?%7E%89%*>:D%3DD:<;I?;=%O3D%I39?%7;%
gHCP%/S%&;%gHCS%/1R%3%,J1URUUU%9?L=%7E%Z%:;%E3F78%7E%8%I3=H8?9S%
8%-$,#($)%7E%=>?%3DD:<;I?;=%7;%5H<S%/S%&;%5H<S%JKR%3%,/1URUUU%
9?L=%7E%Z%:;%E3F78%7E%8%I3=H8?9S%$3=?8%[%3D^D%8%=7%Q3P%>:D%9?L=S%
+7O%IH6>%63;%[%DH66?DDEHCCP%67CC?6=%E87I%8f
%
%
8VD9G%[%63;%67CC?6=%,11URUUU%L?63HD?%8%63;%D?=%HQ%=>?%9?V
E?;D?%7E%Q38=:3C%67IQ?;D3=:7;%8?<389:;<%=>?%,JUURUUU%3;9%=>?%
,J1URUUU%9?L=DR%9?L=D%O>:6>%>39%I3=H8?9%3;9%O?8?%=>?8?E78?%
3C8?39P% 67IQ?;D3LC?% ,@"&@% =7% >:D% ^;7OC?9<?% 7E% =>?% 3DD:<;V
I?;=S%bH=%8%63;;7=%D?=%HQ%=>?%C3D=%9?L=%7E%,/1URUUU%E78%Q38=:3C%
67IQ?;D3=:7;%L?63HD?%=>:D%I3=H8?9%7;CP%,2+$#%>?%L($.%7E%=>?%
3DD:<;I?;=S
M]N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=DS%/J0NV/J0]
X<Y& /0#$)*&+)4&(S0&74(%'"0
&
%
58=S%/J01%>3D%E78%:=D%QH8Q7D?%=>?%!#$1$(+*'(%'2%2#,")"-$(+%
)$!#*1,+*'(%'2%+/$%6$($!%+4%'2%+'+,-%,()%!,#+*,-%&'0!$(4,+*'(9%7<%
T,(#$4,%@:PA@:@?9
&
74(2&C?E<2&!)580*$#(%)*&(#T0$&8"#'0&-Q&)804#(%)*&)+&"#R@&
010*& (S)9.S& (S0& 60-($& 5#Q& -0& 8#Q#-"0& #(& 6%++040*(& 8"#'0$@&
-9(&(S040&$S#""&-0&#*&%*605*%(Q&+)4&0`80*$0$&)+&0`'S#*.0&)4&
(4#*$8)4(#(%)*&()&(S0&8"#'0&)+&8#Q50*(2&
!,VVJKMW
XCY& !)580*$#(%)*&-Q&,804#(%)*&)+&:#R
234% *>:D%3QQC:?D%=7%&'0!$(4,+*'(%65%'!$#,+*'(%'2%-,.9
2L4% `";9?I;:=P%E78%$F!$(4$4%'2%+#,(4!'#+,+*'(j%2=>:D%3QQC:?D%=7%
=83;DQ78=3=:7;%7E%=>?%<779D%78%7E%=>?%7LW?6=4S
264%
`";9?I;:=P%E78%$F!$(4$4%'2%$F&/,(J$j%2=>:D%8?E?8D%=7%I7;V
?=38P%?Z6>3;<?R%:;%63D?%=>?%9?L=D%38?%0'($5%9?L=D4S
X?Y& J`#58"0
&
%
8%7O?D%Z%,/A%Q3P3LC?%:;%T,(*-,%3;9%Z%7O?D%8%,/A%Q3PV
3LC?%:;%E(J-,()9%c>7?F?8%6C3:ID%67IQ?;D3=:7;%IHD=%Q3P%E78%
=>?%$F&/,(J$%#,+$%'2%&"##$(&59
XBY& jb)40%.*&J`'S#*.0d&L0!&*06
&
%
H'#$*J(%$F&/,(J$%>3D%L??;%9?!%;?9%3D%=>?%67;F?8D:7;%7E%3;%
3I7H;=%7E%I7;?P%78%6H88?;6P%7E%7;?%67H;=8P%:;=7%3;%?XH:F3C?;=%
3I7H;=%7E%I7;?P%78%6H88?;6P%7E%3;7=>?8S%7D$$%I#9%E)J,#)'%[9%
K,#,4=%E&'('0*&4%2'#%O,.5$#4=%:>>P=%!!9%B>@A;UP?9
&
74(2&C?EP2&!)580*$#(%)*&$S#""&*)(&-0&84)804&RS0*&)*0&)+&
(S0&60-($&#4%$0$&+4)5&#&$%&'()*+,&)4&+4)5&(S0&)-"%.#(%)*$&)+&
#&608)$%()4Q&)4&)+&#&-#%"00&%*&-',,'$.*+,2
&
K0%(S04&'#*&')580*$#(%)*&-0&$0(&98&#.#%*$(&#&'406%()4&
RS)& S#$& '"#%5& +)4& $988)4(& 690& -Q& .4#(9%()9$& (%("0@& R%(S)9(&
840U96%'0&()&(S0&84)1%$%)*$&)+&8#4#.4#8S&?&)+&74(%'"0&B>C2&
M]]
%
58=S%/J0]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& ZS0*&:0.#"&!)580*$#(%)*&!#**)(&M#T0&H"#'0
&
%
*>:D%58=:6C?%DQ?3^D%7E%=>?%:;D=3;6?D%O>?;%-$J,-%&'0!$(4,A
+*'(%63;;7=%=3^?%QC36?R%DH6>%3DG
234% c>?;%7;?%9?L=%38:D?D%E87I%3%)$!'4*+"0%2;7=%L3;^%9?Q7D:=R%
E78%=>:D%:D%8?3CCP%3%C73;4S%7N"--,4%19%K/*-9%V,+9%Z,(L=%;Q%K/*-9%
B:>%,()%8#+9%:><U=%[*1*-%[')$?9
%
%
2VSWEG%*>?%QH8Q7D?%:D%=7%Q8?F?;=%L8?36>%7E%=8HD=%3;9%
67;!%9?;6?S4
%
%
2VSWEG%"=%:D%=>?%9?Q7D:=38P%O>7%63;;7=%6C3:I%67IV
Q?;D3=:7;S%*>?%)$!'4*+'#%:D%3CC7O?9%=7%D7%6C3:IS4
2L4% c>?;%7;?%9?L=%38:D?D%E87I%=>?%7LC:<3=:7;D%7E%3%)$!'4*+,#59
%
%
2VSWEG%*>:D%>3D%=>?%D3I?%8?3D7;%3D%=>?%Q8?6?9:;<%
7;?S%5<3:;R%=>?%)$!'4*+'#%:D%<:F?;%=>?%8:<>=%=7%6C3:I%67IV
Q?;D3=:7;S4
264%
c>?;%7;?%9?L=%38:D?D%E87I%=>?%7LC:<3=:7;D%7E%3%6,*-$$%:;%
&'00'),+"0%2=>?%6'##'.$#%7E%Q87Q?8=P%O>7%Q3PD%('+/*(J%
E78%=>?%C73;4S
%
%
2VSWEG%5<3:;R%=>?%8?3D7;%>?8?%:D%=7%Q8?F?;=%3%L8?36>%
7E%=8HD=S4
%
%
2VSWEG% *>?% C?;9?8% I3P% 6C3:I% 67IQ?;D3=:7;e% =>?%
6'##'.$#%:D%-&*%3CC7O?9%=7%97%D7S4
%
%
cVSWEG%";%=>?%=>8??%:;D=3;6?D%<:F?;%3L7F?R%D:;6?%=>?%
9?Q7D:=78%3;9%=>?%C?;9?8%>3F?%3;%'!+*'(%+'%&-,*0%'#%('+%+'%
&-,*0% 67IQ?;D3=:7;R% O?% >3F?% 6C?38% :;D=3;6?D% 7E% E36HC=3V
=:F?%67IQ?;D3=:7;S%7D$$%['00$(+%V'9%;%p6A@q%"()$#%8#+9%
:QC<?9e
294% c>?;%7;?%9?L=%38:D?D%L?63HD?%7E%3%6C3:I%E78%4"!!'#+%9H?%
=7%J#,+"*+'"4%+*+-$9
%
%
cVSWEG%.HQQ78=%:;%388?38D%I3P%L?%67IQ?;D3=?9%78#+9%
PU:=%!,#9%Q=%[*1*-%[')$?%LH=%;7=%EH=H8?%DHQQ78=R%E78%=>:D%:D%
`F:=3C%=7%=>?%C:E?%7E%=>?%8?6:Q:?;=Sa%7X$!'#+%'2%+/$%[')$%['0A
0*44*'(?9e
%
%
cVSWEG%";%=>?%E78?<7:;<%9:D6HDD:7;R%QC?3D?%7LD?8F?%
=>3=%O>:C?%67IQ?;D3=:7;%63;;7=%L?%I39?%HD?%7E%LP%7;?%Q38=P%
M]0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J0]
2$9J9=%=>?%)$!'4*+,#54R%67IQ?;D3=:7;%I3P%L?%6C3:I?9%LP%=>?%
7=>?8%Q38=P%2$9J9=%=>?%)$!'4*+'#54S%*>:D%^:;9%7E%67IQ?;D3V
=:7;R%O>?8?LP%7;CP%7;?%D:9?%63;%6C3:I%:=%LH=%;7=%=>?%7=>?8R%
:D%8?E?88?9%=7%3D%)5!i$*5*"#(%!&A,(-.5*"&-S\
X?Y& G)50&H4)-"05$
234% 8%>3D%3%,/RUUURUUU%D3F:;<D%9?Q7D:=%O:=>%=>?%,>:CS%-3=:7;3C%
b3;^S%&;?%93P%8%L7887O?9%,JUURUUU%E87I%=>?%b3;^S%c:=>V
7H=% 3D^:;<% Q?8I:DD:7;% E87I% 8=% =>?% b3;^% DHL=836=?9% =>?%
,JUURUUU%E87I%8\4%3667H;=R%C?3F:;<%3%L3C3;6?%7E%,0UURUUU%
:;%8\4%E3F78S%"D%=>?%L3;^_D%36=:7;%Q87Q?8f
%
%
8VD9G%B?DS%!7IQ?;D3=:7;%:D%3CC7O?9%>?8?%L?63HD?%:;%
=>:D%63D?R%=>?%8?C3=:7;D>:Q%L?=O??;%=>?%L3;^%3;9%=>?%9?V
Q7D:=78%:D%=>3=%7E%9?L=78%3;9%68?9:=78S%7D$$%8#+9%:><U=%[*1*-%
[')$%,()%N"--,4%19%K/*-9%V,+9%Z,(L=%;Q%K/*-9%B:>?9
2L4% 8%3D^?9%Z%=7%^??Q%,/RUUURUUU%E78%>:IS%-7OR%8%:D%:;9?L=?9%=7%
Z%E78%=>?%3I7H;=%7E%,MUURUUUS%c>?;%8%3D^D%E78%=>?%8?=H8;%
7E%>:D%I7;?PR%Z%<:F?D%>:I%7;CP%,NUURUUUR%3CC?<:;<%Q38=:3C%
67IQ?;D3=:7;S%"D%Z%6788?6=f
%
%
8VD9G% -7R% Z% :D% ;7=% 6788?6=% L?63HD?% =>?% ,/RUUURUUU%
9?Q7D:=%O:=>%>:I%:D%;7=%DHLW?6=%=7%67IQ?;D3=:7;S%78#+9%:Q<C=%
:4+%!,#9=%[*1*-%[')$?9
XBY& ,-"%.#(%)*$&)+&#&L08)$%(#4Q
%
%
*>?%C3O%D3PD%=>3=%67IQ?;D3=:7;%:D%;7=%Q87Q?8%O>?;%7;?%7E%
=>?%9?L=D%38:D?D%E87I%=>?%'6-*J,+*'(4%7E%3%)$!'4*+,#59%-7OR%O>3=%
38?%D7I?%7E%=>?D?%7LC:<3=:7;D%7E%3%9?Q7D:=38Pf
%
%
8VD9G%
234% *>?%9?Q7D:=38P%:D%7LC:<?9%=7%^??Q%=>?%=>:;<%D3E?CP%3;9%=7%
8?=H8;%:=R%O>?;%8?XH:8?9R%=7%=>?%9?Q7D:=78R%78%=7%>:D%>?:8D%
3;9%DH66?DD78DR%78%=7%=>?%Q?8D7;%O>7%I3P%>3F?%L??;%9?DV
:<;3=?9%:;%=>?%67;=836=S%78#+9%:>CQ=%[*1*-%[')$?9
2L4% i;C?DD%=>?8?%:D%3%D=:QHC3=:7;%=7%=>?%67;=838PR%=>?%9?Q7D:=38P%
63;;7=%9?Q7D:=%=>?%=>:;<%O:=>%3%=>:89%Q?8D7;S%78#+9%:>CP=%
*)9?9
M]d
%
58=S%/J00
264%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
"E%9?Q7D:=%O:=>%3%=>:89%Q?8D7;%:D%3CC7O?9R%=>?%9?Q7D:=38P%:D%
C:3LC?%E78%=>?%C7DD%:E%>?%9?Q7D:=?9%=>?%=>:;<%O:=>%3%Q?8D7;%
O>7%:D%I3;:E?D=CP%638?C?DD%78%H;!%=S%7R6*)9?9
294% *>?% 9?Q7D:=38P% :D% 8?DQ7;D:LC?% E78% =>?% ;?<C:<?;6?% 7E% >:D%
?IQC7P??DS%7R6*)9?9
2?4% *>?% 9?Q7D:=38P% 63;;7=% I3^?% HD?% 7E% =>?% =>:;<% 9?Q7D:=?9%
O:=>7H=% =>?% ?ZQ8?DD% Q?8I:DD:7;% 7E% =>?% 9?Q7D:=78S% &=>?8V
O:D?R%>?%D>3CC%L?%C:3LC?%E78%93I3<?DS%+7O?F?8R%O>?;%=>?%
Q8?D?8F3=:7;%7E%=>?%=>:;<%8?XH:8?D%:=D%HD?R%:=%IHD=%L?%HD?9%
LH=%7;CP%E78%=>3=%QH8Q7D?S%78#+9%:>CC=%*)9?9
&
74(2&C?EE2&K0%(S04&$S#""&(S040&-0&')580*$#(%)*&%+&)*0&)+&(S0&
60-($&')*$%$($&%*&'%1%"&"%#-%"%(Q&#4%$%*.&+4)5&#&80*#"&)++0*$02
!,VVJKMW
XCY& K)*;!)580*$#(%)*&%+&,*0&L0-(&74%$0$&+4)5&#&!4%50
%
X$,4'(%2'#%+/$%!#'1*4*'(G
%
%
`"E%7;?%7E%=>?%9?L=D%67;D:D=%:;%6:F:C%C:3L:C:=P%38:D:;<%E87I%3%
Q?;3C%7EE?;D?R%67IQ?;D3=:7;%O7HC9%L?%:IQ87Q?8%3;9%:;39F:D3LC?%
L?63HD?%=>?%D3=:DE36=:7;%7E%DH6>%7LC:<3=:7;%:D%:IQ?83=:F?Sa%7X$!'#+%
'2%+/$%[')$%['00*44*'(=%!9%:P@?9
X?Y& N9(&e%'(%5&!#*&!"#%5&!)580*$#(%)*
&
%
"=%:D%6C?38%=>3=%=>?%68:I:;3C%63;;7=%6C3:I%67IQ?;D3=:7;S%
+7O%3L7H=%=>?%1*&+*0f
%
%
8VD9G% +?% D>7HC9% L?% 3CC7O?9S% Y"4+*&$% Y9Z9O9% X$5$4% 4,54G%
`*>:D% D>7HC9% L?% DQ?6:!%63CCP% C:I:=?9% =7% =>?% 366HD?9% =7% Q8?F?;=%
>:D%?D63Q:;<%C:3L:C:=P%LP%QC?39:;<%Q8:78%68?9:=D%3<3:;D=%=>?%7EV
E?;9?9%Q38=PS%bH=%('+%=7%=>?%F:6=:I%7E%3%68:I?%O>7%>3QQ?;D%=7%
L?%:;9?L=?9%=7%=>?%366HD?9Sa%7S64$#1,+*'(%'(%+/$%($.%[*1*-%[')$=%
Y"4+*&$%Y9Z9O9%X$5$4=%O,.5$#\4%Y'"#(,-=%Y,(9%P:=%:>B:?9
%
%
2*>:D%:D%3<3:;%3;7=>?8%:;D=3;6?%7E%)5!i$*5*"#(%!&AV
,(-.5*"&-S4
M0U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J0d
&
74(2& C?ED2& 3+& #& 804$)*& $S)9"6& S#10& #.#%*$(& S%5& $0104#"&
60-($& RS%'S& #40& $9$'08(%-"0& )+& ')580*$#(%)*@& (S0& 49"0$& )*&
(S0&#88"%'#(%)*&)+&8#Q50*($&$S#""&#88"Q&()&(S0&)4604&)+&(S0&
')580*$#(%)*2&
!,VVJKMW
%
-7=?%=>?%687DDV8?E?8?;6?%=7%3QQC:63=:7;%7E%Q3PI?;=DS
&
&
&
&
&
&
G(010&M#*&f&V#4'%#*)&M#*&12
b#-%#*&V0*60a@&A42
O/&CBE<<D@&A9*2&<@&?>>?
%
%
H8[WDG%,?=:=:7;?8%.=?F?%*3;%3;9%A386:3;7%*3;%38?%=>?%
7O;?8D%7E%A3D=?8%*7H8D%3;9%*83F?C%!78QS%3;9%7Q?83=78D%7E%,>:CV
:QQ:;?%$3O:;%bHD%!7SR%";6S%2,$b!"4R%O>:C?%8?DQ7;9?;=%)3L:3;%
A?;9?TR%g8S%:D%=>?%7O;?8%7E%=>8??%<3D7C:;?%D=3=:7;D%:;%"8:<3%!:=PR%
$:<37%:;%5CL3P%3;9%.:Q767=R%!3I38:;?D%.H8S%,?=:=:7;?8D%7Q?;?9%3%
68?9:=%C:;?%E78%=>?:8%LHD?D_%CHL8:63;=D%3;9%EH?C%67;DHIQ=:7;%O:=>%
8?DQ7;9?;=S%5=%=>?%D3I?%=:I?R%=>?%C3==?8%O3D%3CD7%9?D:<;3=?9%
LP%Q?=:=:7;?8D%3D%=>?%L77^:;<%3;9%=:6^?=:;<%3<?;=%7E%,$b!"%:;%
"8:<3%!:=PS
%
%
i;9?8%DH6>%3;%3883;<?I?;=R%Q?=:=:7;?8D_%98:F?8D%QH86>3D?9%
7;%68?9:=%EH?C%3;9%F38:7HD%7:C%Q879H6=D%E78%:=D%LHD?D%=>8H%O:=>V
983O3C%DC:QD%:DDH?9%LP%Q?=:=:7;?8DR%O:=>%Q?8:79:6%Q3PI?;=D%=7%
8?DQ7;9?;=%=>8H%=>?%:DDH3;6?%7E%6>?6^DS%iQ7;%=>?%7=>?8%>3;9R%
8?DQ7;9?;=%8?I:==?9%=>?%Q876??9D%7E%=:6^?=%D3C?D%=7%Q?=:=:7;?8D%
3CD7%=>8H%=>?%:DDH3;6?%7E%6>?6^DS%.?;=%=7<?=>?8%O:=>%8?DQ7;9?;=_D%
8?I:==3;6?%38?%=>?%8?I:==3;6?D%7E%=>?%=:6^?=%D3C?D%:;%=>?%b337%
b77^:;<%&E!%6?R%O>:6>%:D%I3;3<?9%D?Q383=?CP%3;9%:;9?Q?;9?;=CP%
LP%3;7=>?8%3<?;=R%(C:3D%b76D3:;S
%
%
566789:;<CPR%Q?=:=:7;?8D%:DDH?9%D?F?83C%6>?6^D%=7%8?DQ7;9V
?;=%3D%Q3PI?;=%E78%7:C%3;9%EH?C%Q879H6=DS%&;?%7E%=>?D?%:D%)(b*!%
6>?6^%]UMJJ]%93=?9%gH;S%MR%/dd/%:;%=>?%3I7H;=%7E%,10RJK]S]1%
3D%Q3PI?;=%E78%<3D7C:;?%3;9%7:C%Q879H6=D%Q876?DD?9%9H8:;<%=>?%
Q?8:79%A3P%JV/1R%/dd/S%.3:9%6>?6^%O3D%9:D>7;78?9%LP%=>?%L3;^%
HQ7;%Q8?D?;=I?;=%E78%Q3PI?;=%E78%L?:;<%983O;%3<3:;D=%:;DHEV
!%6:?;=%EH;9DS%@?DQ7;9?;=%D?;=%3%9?I3;9%C?==?8%93=?9%gH;S%J/R%
/dd/%=7%Q?=:=:7;?8D%9?I3;9:;<%=>3=%=>?P%I3^?%<779%=>?%6>?6^%
78%Q3P%=>?%3I7H;=%=>?8?7ER%=7%;7%3F3:CS%+?;6?R%3;%:;E78I3=:7;%
M0/
%
58=S%/J0d
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
E78% F:7C3=:7;% 7E% b,% JJ% O3D% !%C?9% 3<3:;D=% Q?=:=:7;?8DR% HQ7;% =>?%
67IQC3:;=%7E%8?DQ7;9?;=%L?E78?%=>?%@*!%7E%"8:<3%!:=PR%b8S%K]S
%
%
,?=:=:7;?8D%QC?39?9%;7=%<H:C=P%9H8:;<%3883:<;I?;=%3;9%=8:3C%
?;DH?9S%iQ7;%=>?%7=>?8%>3;9R%=>?%9?E?;D?%Q8?D?;=?9%Q?=:=:7;?8%
A386:3;7%*3;%3;9%"D:987%*3;%3D%O:=;?DD?DS%";%>:D%=?D=:I7;PR%
A386:3;7%3F?88?9%=>3=%>?%63;;7=%L?%>?C9%C:3LC?%E78%F:7C3=:7;%7E%
b,%JJ%L?63HD?%=>?%3I7H;=%DHLW?6=%7E%=>?%6>?6^%>39%3C8?39P%L??;%
?Z=:;<H:D>?9% LP% 7EED?=% 78% 67IQ?;D3=:7;% 3<3:;D=% =>?% 67CC?6=:7;%
E87I%=:6^?=%D3C?D%E87I%=>?%L77^:;<%7E!%6?DS%+?%Q8?D?;=?9%3%I?I7V
83;9HI%93=?9%gH;S%/UR%/dd/%D>7O:;<%=>?%8?=H8;%=7%8?DQ7;9?;=%
7E%F38:7HD%H;63D>?9%6>?6^D%:;%=>?%=7=3C%3I7H;=%7E%,NNR0KdSJ1%
8?Q8?D?;=:;<%8?I:==3;6?%7E%=:6^?=%D3C?D%:;%=>?%"8:<3%3;9%b337%
7E!%6?D%=>3=%O?8?%?38C:?8%D?;=%LP%8?DQ7;9?;=S%5E=?8%=>?%3CC?<?9%
7EED?=R%=>?8?%8?I3:;D%3%L3C3;6?%7E%,JJNR]01S0KS
%
%
iQ7;%687DDV?Z3I:;3=:7;R%A386:3;7%39I:==?9%=7%>3F?%983O;%
=>?%DHLW?6=%6>?6^%=7%Q3P%Q8:F3=?%8?DQ7;9?;=_D%<3D7C:;?%D=3=:7;%
3;9%=>3=%:=%O3D%;7=%67F?8?9%LP%DHE!%6:?;=%EH;9D%3=%=>?%=:I?%7E%
:=D%:DDH3;6?%9H?%=7%H;67CC?6=?9%8?6?:F3LC?DS%iQ7;%XH?8P%LP%=>?%
67H8=R%>?%6C3:I?9%=>3=%>?%9:9%;7=%=3C^%=7%Q8:F3=?%67IQC3:;3;=%
3;9%67HC9%;7=%=?CC%:E%=>?%C3==?8%3<8??9%=7%7EED?=%=>?%6>?6^D%O:=>%
=>?%8?I:==3;6?DS%"D:987%*3;R%Q?=:=:7;?8_D%L87=>?8R%67887L783=?9%
A386:3;7_D%6C3:I%7E%7EED?=S%+?%3CD7%39I:==?9%DQ?3^:;<%O:=>%AHC8P%
A?;9?T%8?<389:;<%=>?%Q87Q7D?9%D?==C?I?;=%7E%=>?%63D?%O>:6>R%
>7O?F?8R%O3D%;7=%366?Q=?9%LP%8?DQ7;9?;=S
%
%
&;%8?LH==3CR%8?DQ7;9?;=%9:DQH=?9%Q?=:=:7;?8D_%6C3:I%7E%Q3PV
I?;=%=>8H%7EED?=%78%67IQ?;D3=:7;S%+?%6C3:I?9%=>3=%=>?%3I7H;=%
7E% =>?% E7H8% H;?;63D>?9% 6>?6^D% =7=3CC:;<% ,NNR0KdSJ1% 67HC9% ;7=%
>3F?%7EED?=%=>?%3I7H;=%7E%=>?%9:D>7;78?9%6>?6^D%D:;6?%Q?=:=:7;V
?8D_%=7=3C%7LC:<3=:7;D%3=%=>3=%=:I?%>39%3C8?39P%8?36>?9%,dUNRUUUS%
A78?7F?8R%?F?;%:E%67IQ?;D3=:7;%=77^%QC36?R%:=%D>7HC9%>3F?%L??;%
3QQC:?9%7;%3;%3CC?<?9%?38C:?8%7LC:<3=:7;%7E%,JK1RK0]SKKS%@?DQ7;9V
?;=%3CD7%6C3:I?9%=>3=%67IQ?;D3=:7;%9:9%;7=%=3^?%QC36?%3D%=>?8?%
O3D%;7%3QQC:63=:7;%7E%Q3PI?;=%I39?%LP%=>?%Q?=:=:7;?8D%:;%=>?:8%
I?I783;9HI%93=?9%gH;S%/UR%/dd/S
%
%
5E=?8%=8:3CR%=>?%=8:3C%67H8=%67;F:6=?9%Q?=:=:7;?8D%E78%F:7C3V
=:7;%7E%b,%JJS%&;%3QQ?3CR%=>?%!7H8=%7E%5QQ?3CD%2!54%3E!%8I?9%
=>?%67;F:6=:7;%7E%Q?=:=:7;?8DR%>?;6?R%=>:D%Q?=:=:7;S
%
%
RDD_EG%c>?=>?8%=>?%!5%?88?9%O>?;%:=%E3:C?9%=7%67;D:9?8%
=>?%E36=%7E%Q3PI?;=%LP%7EED?==:;<%Q8:78%=7%=>?%9?I3;9%C?==?8%D?;=%
M0J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J0d
LP%8?DQ7;9?;=%9?DQ:=?%=>?%3LH;93;6?%7E%?F:9?;6?%Q87F:;<%=>?%
D3I?S
%
%
`EOIG%"=%L?38D%D=8?DD:;<%=>3=%=>?%:DDH?%7E%O>?=>?8%78%;7=%
=>?%7LC:<3=:7;%67F?8?9%LP%=>?%DHLW?6=%6>?6^%>39%L??;%Q3:9%LP%
67IQ?;D3=:7;%78%7EED?=%:D%3%E36=H3C%:DDH?%=>3=%8?XH:8?D%?F3CH3=:7;%
3;9%3DD?DDI?;=%7E%6?8=3:;%E36=DS%*>:D%:D%;7=%Q87Q?8%:;%3%Q?=:=:7;%
E78%8?F:?O%7;%&$#+*'#,#*%=7%=>?%.HQ8?I?%!7H8=S%*>:D%!7H8=%:D%;7=%3%
=8:?8%7E%E36=D%7O"*4%M'(J%19%[8%n%K$'!-$%'2%+/$%K/*-49=%NX%::C<BC=%
H$69%Q=%QUU:%,()%8-$#*,=%Y#9%19%d$-$k=%Q><%D[X8%;::%c:>><e?R%:=D%
WH8:D9:6=:7;%7F?8%63D?D%?C?F3=?9%E87I%=>?%!5%L?:;<%67;!%;?9%=7%
=>?%8?F:?O%7E%?8878D%7E%C3O%3D68:L?9%=7%=>?%C3==?8R%O>7D?%!%;9:;<D%
7E%E36=%38?%67;6CHD:F?%3LD?;=%3;P%D>7O:;<%=>3=%DH6>%!%;9:;<D%38?%
?;=:8?CP%9?F7:9%7E%3;P%DHLD=3;=:3=:7;%7;%8?6789S%&;%=>:D%3DQ?6=R%
=>?%!5%3E!%8I?9%=>?%!%;9:;<D%7E%=>?%=8:3C%67H8=%=>3=%=>?%3CC?<?9%
67IQ?;D3=:7;%:D%;7=%DHQQ78=?9%LP%6C?38%3;9%Q7D:=:F?%?F:9?;6?S%
)78%3D%E7H;9%LP%=>?%=8:3C%67H8=R%Q?=:=:7;?8D_%9?E?;D?%7E%67IQ?;V
D3=:7;%:D%H;3F3:C:;<%L?63HD?%Q?=:=:7;?8D%9:9%;7=%6C?38CP%DQ?6:EP%
:;% =>?% I?I783;9HI% 93=?9% gH;S% /UR% /dd/% O>:6>% 9:D>7;78?9%
6>?6^%:D%L?:;<%7EED?=S%5QQCP:;<%58=S%/J0d%8?39%=7<?=>?8%O:=>%58=S%
/J1M% 7E% =>?% !:F:C% !79?R% =>?% H;?;63D>?9% 6>?6^D% 3I7H;=:;<% =7%
,NNR0KdSJ1%D>7HC9%>3F?%L??;%3QQC:?9%=7%=>?%?38C:?8%9:D>7;78?9%
6>?6^%3I7H;=:;<%=7%,JK1RK0]SKK%O>:6>%:D%I78?%7;?87HD%=>3;%
=>?%DHLW?6=%6>?6^%3I7H;=:;<%=7%7;CP%,10RJK]S]1S
%
%
A78?7F?8R% ;7% 67IQ?;D3=:7;% 63;% =3^?% QC36?% L?=O??;% Q?V
=:=:7;?8D% 3;9% 8?DQ7;9?;=% 3D% =>?% C3==?8% :D% ;7=% 3% 9?L=78% 7E% =>?%
E78I?8%:;D7E38%3D%=>?%=O7%6>?6^D%8?Q8?D?;=:;<%67CC?6=:7;D%E87I%
=>?%b337%=:6^?=%D3C?D%38?%67;6?8;?9S%*>?%!:F:C%!79?%8?XH:8?DR%3D%
3%Q8?8?XH:D:=?%E78%67IQ?;D3=:7;R%=>3=%=>?%Q38=:?D%L?%IH=H3CCP%
3;9%Q8:;6:Q3CCP%L7H;9%3D%68?9:=78D%3;9%9?L=78DS%78#+9%:QC<?9%"E%
=>?P%O?8?%;7=%IH=H3CCP%68?9:=78D%3;9%9?L=78D%7E%?36>%7=>?8R%=>?%
C3O%7;%67IQ?;D3=:7;%O7HC9%;7=%3QQCPS%7R6*)9?9%";%=>?%63D?%3=%L38R%
=>?%I?I783;9HI%D>7OD%=>3=%D7I?%H;?;63D>?9%6>?6^D%8?=H8;?9%
=7% 8?DQ7;9?;=% =7% 3CC?<?9CP% 7EED?=% =>?% 9:D>7;78?9% 6>?6^% O?8?%
E87I%=>?%b337%=:6^?=%D3C?D%O>:6>%38?%D?Q383=?%E87I%=>?%=:6^?=%
D3C?D%7E%8?DQ7;9?;=S%*>?%C3==?8%7;CP%36=?9%3D%3;%:;=?8I?9:38P%
:;%8?I:==:;<%=>?%b337%=:6^?=%D3C?D%3;9R%=>HDR%:D%;7=%3%9?L=78%7E%
Q?=:=:7;?8DS
%
%
";=?8?D=:;<CPR%Q?=:=:7;?8D%;?F?8%3CC?<?9%67IQ?;D3=:7;%O>?;%
=>?P%8?6?:F?9%=>?%9?I3;9%C?==?8R%9H8:;<%=>?%Q8?C:I:;38P%:;F?DV
M0K
%
58=S%/J0d
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=:<3=:7;R%78%L?E78?%=8:3C%LP%!%C:;<%3%I7=:7;%=7%9:DI:DDS%"E%:;9??9%
=>?8?%O3D%Q3PI?;=%LP%67IQ?;D3=:7;R%Q?=:=:7;?8D%D>7HC9%>3F?%
8?9??I?9% 78% =3^?;% =>?% 6>?6^D% L36^% :;% =>?% 789:;38P% 67H8D?% 7E%
LHD:;?DDS%78-6$#+'%O*0%19%K$'!-$%'2%+/$%K/*-49=%NX%:@PQP:=%S&+9%
Q;=%QUU:=%&*+*(J%I*&'%19%[8=%PUB%D[X8%;PC%c:>>>e=%,()%D$&9%Pcae=%
X"-$%:P:=%X$1*4$)%X"-$4%'2%['"#+?9%*>?8?%:D%;7%?F:9?;6?%7;%8?6789%
=>3=%=>?P%9:9%D7S
%
%
c>:C?% =>?% .HQ8?I?% !7H8=% DHD=3:;?9% =>?% 67;F:6=:7;% 7E%
Q?=:=:7;?8DR% :=% 9??I?9% :=% 3QQ87Q8:3=?% =7% I79:EP% =>?% Q?;3C=:?D%
:IQ7D?9S% "=% 9?C?=?9% =>?% Q?;3C=P% 7E% :IQ8:D7;I?;=% 3;9% *(% -*$"%
=>?8?7ER%:IQ7D?9%HQ7;%Q?=:=:7;?8D%3%!%;?%3I7H;=:;<%=7%97HLC?%
=>?%F3CH?%7E%=>?%DHLW?6=%6>?6^R%O:=>%DHLD:9:38P%:IQ8:D7;I?;=%
:;%63D?%7E%:;D7CF?;6P%78%;7;VQ3PI?;=S
%
%
";%=>:D%:;D=3;=%63D?R%=>?%!7H8=%;7=?D%=>3=%Q?=:=:7;?8D%>39%
?Z?8=?9%?EE78=D%=7%D?==C?%=>?:8%7LC:<3=:7;DS%*>?%E36=%7E%8?=H8;:;<%
=>?%H;?;63D>?9%6>?6^D%=7%8?DQ7;9?;=%:;9:63=?D%<779%E3:=>%7;%=>?%
Q38=%7E%Q?=:=:7;?8DS%5LD?;=%3;P%D>7O:;<%=>3=%Q?=:=:7;?8D%36=?9%
:D%L39%E3:=>R%=>?%9?C?=:7;%7E%=>?%Q?;3C=P%7E%:IQ8:D7;I?;=%:;%=>:D%
63D?%:D%Q87Q?8S
%
%
*>?%Q?=:=:7;%:D%9?;:?9%3;9%=>?%!5%9?6:D:7;%:D%3E!%8I?9%O:=>%
I79:!%63=:7;S%,?=:=:7;?8D%38?%789?8?9%=7%:;9?I;:EP%8?DQ7;9?;=%
:;%=>?%3I7H;=%7E%,10RJK]S]1%O:=>%C?<3C%:;=?8?D=%E87I%=>?%93=?%7E%
WH9:6:3C%9?I3;9S%*>?%D?;=?;6?%7E%:IQ8:D7;I?;=%7E%N%I7;=>D%:D%
D?=%3D:9?%3;9%*(%-*$"%=>?8?7ER%3%!%;?%:;%=>?%3I7H;=%7E%,//NRM]1S1U%
2,10RJK]S]1%Z%J4%:D%:IQ7D?9%HQ7;%Q?=:=:7;?8DR%O:=>%DHLD:9:38P%
:IQ8:D7;I?;=%;7=%=7%?Z6??9%N%I7;=>D%:;%63D?%7E%:;D7CF?;6P%78%
;7;VQ3PI?;=S%7X'4,%O*0%19%K$'!-$%'2%+/$%K/*-49=%P@U%D[X8%@>C%
cQUUUe=% &*+*(J% 8#+9% P>=% !,#9% Q9=% X$19% K$(,-% [')$h% I*'(Jk'(% 19%
[8=%PQ:%D[X8%@CC%c:>>>eh%,()%O-,0,)'%19%[8=%QCU%D[X8%@QP%
c:>>Ce?9
%
%
[VSWEG%.HQ8?I?%!7H8=%59I:;:D=83=:F?%!:86HC38%/JVJUUUR%
3D%6C38:!%?9%LP%59I:;:D=83=:F?%!:86HC38%/KVJUUJR%?D=3LC:D>?9%3%
8HC?% 7E% Q8?E?8?;6?% :;% :IQ7D:;<% Q?;3C=:?D% :;% b,% JJ% 63D?DS% .?6S%
/%7E%b,%JJ%:IQ7D?D%=>?%E7CC7O:;<%3C=?8;3=:F?%Q?;3C=:?D%E78%:=D%
F:7C3=:7;R%=7%O:=G%234%:IQ8:D7;I?;=%7E%;7=%C?DD%=>3;%KU%93PD%LH=%
;7=%I78?%=>3;%/%P?38e%78%2L4%3%!%;?%7E%;7=%C?DD%=>3;%LH=%;7=%I78?%
=>3;%97HLC?%=>?%3I7H;=%7E%=>?%6>?6^%O>:6>%!%;?%D>3CC%:;%;7%63D?%
?Z6??9%,JUURUUUe%78%264%L7=>%DH6>%!%;?%3;9%:IQ8:D7;I?;=%3=%=>?%
9:D68?=:7;%7E%=>?%67H8=S%*>?%83=:7;3C?%7E%59IS%!:86HC38%/JVJUUU%
M0M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/J0d
:D%E7H;9%:;%=>?%.HQ8?I?%!7H8=%8HC:;<D%:;%E)",#)'%d,&,%19%[8%
2Jd0%.!@5%N1N%[/dd0\4%3;9%X'4,%O*0%19%K$'!-$%'2%+/$%K/*-4S%2KMU%
.!@5%Md]%[JUUU\4S%*>?%!7H8=%>?C9%:;%=>7D?%63D?D%=>3=%:=%O7HC9%
L?D=%D?8F?%=>?%?;9D%7E%68:I:;3C%WHD=:6?%:ER%:;%!%Z:;<%=>?%Q?;3C=P%=7%
L?%:IQ7D?9%E78%F:7C3=:7;%7E%b,%JJR%=>?%D3I?%Q>:C7D7Q>P%H;9?8V
CP:;<%=>?%";9?=?8I:;3=?%.?;=?;6?%$3O%:D%7LD?8F?9R%*9$9=%=>3=%7E%
8?9??I:;<%F3CH3LC?%>HI3;%I3=?8:3C%3;9%Q8?F?;=:;<%H;;?6?DV
D38P% 9?Q8:F3=:7;% 7E% Q?8D7;3C% C:L?8=P% 3;9% ?67;7I:6% HD?EHC;?DD%
O:=>%9H?%8?<389%=7%=>?%Q87=?6=:7;%7E%=>?%D76:3C%789?8\S
%
%
cVSWEG%*7%L?%DH8?R%:=%:D%;7=%:=D%:;=?;=:7;R%7Q:;?9%=>?%.HV
Q8?I?%!7H8=R%=7%9?68:I:;3C:T?%F:7C3=:7;%7E%b,%JJS%-?:=>?8%:D%:=%
=>?%:;=?;=:7;%=7%9?C?=?%=>?%3C=?8;3=:F?%Q?;3C=P%7E%:IQ8:D7;I?;=S%
*>?%Q87Q8:?=P%3;9%O:D97I%7E%9?68:I:;3C:T:;<%F:7C3=:7;%7E%b,%JJ%
:D%L?D=%C?E=%=7%=>?%C?<:DC3=H8?%3;9%;7=%=>:D%!7H8=S%5D%6C38:!%?9%LP%
.!%59IS%!:8S%/KVJUU/R%=>?%6C?38%=?;78%7E%59IS%!:8S%/JVJUUU%:D%
;7=%=7%8?I7F?%:IQ8:D7;I?;=%3D%3;%3C=?8;3=:F?%Q?;3C=PR%LH=%=7%
C3P%97O;%3%8HC?%7E%Q8?E?8?;6?%:;%=>?%3QQC:63=:7;%7E%=>?%Q?;3C=:?D%
Q87F:9?9%E78%:;%b,%JJS%c>?8?%=>?%6:86HID=3;6?D%7E%=>?%63D?R%E78%
:;D=3;6?R%6C?38CP%:;9:63=?%<779%E3:=>%78%3%6C?38%I:D=3^?%7E%E36=%
O:=>7H=%=3:;=%7E%;?<C:<?;6?R%=>?%:IQ7D:=:7;%7E%3%!%;?%3C7;?%I3P%
L?% 67;D:9?8?9% 3D% =>?% I78?% 3QQ87Q8:3=?% Q?;3C=PS% *>:D% 8HC?% 7E%
Q8?E?8?;6?%97?D%;7=%E78?6C7D?%=>?%Q7DD:L:C:=P%7E%:IQ8:D7;I?;=%E78%
F:7C3=78D%7E%b,%JJS%-?:=>?8%97?D%:=%9?E?3=%=>?%C?<:DC3=:F?%:;=?;=%
L?>:;9%=>?%C3OS%-??9C?DD%=7%D3P%=>?%9?=?8I:;3=:7;%7E%O>?=>?8%
=>?%6:86HID=3;6?D%O3883;=%=>?%:IQ7D:=:7;%7E%3%!%;?%3C7;?%8?D=D%
D7C?CP%HQ7;%=>?%WH9<?S%.>7HC9%=>?%WH9<?%9?6:9?%=>3=%:IQ8:D7;V
I?;=%:D%=>?%I78?%3QQ87Q8:3=?%Q?;3C=PR%59IS%!:86HC38%/JVJUUU%
7H<>=%;7=%=7%L?%9??I?9%3%>:;983;6?S%78)09%[*#9%:PAQUU:=%&*+$)%
*(%8-6$#+'%O*0%19%K$'!-$%'2%+/$%K/*-49=%4"!#,?9e
%
%
[VSWE% 2"#+/$#G% *>?% .HQ8?I?% !7H8=% :;% ;7=% H;3O38?% 7E%
=>?%:IQ78=3;6?%7E%6>?6^D%:;%67II?86:3C%=83;D36=:7;DS%";%67IV
I?86:3C% Q38C3;6?R% =>?P% >3F?% L??;% O:9?CP% 3;9% !%==:;<CP% ^;7O;%
3D%=>?%DHLD=:=H=?%7E%I7;?P%3;9%>3F?%?EE?6=:F?CP%E36:C:=3=?9%=>?%
DI77=>%"%7O%7E%67II?86:3C%=83;D36=:7;DS%*>?%Q?8;:6:7HD%?EE?6=D%
3;9% 8?Q?86HDD:7;D% 7E% 6:86HC3=:;<% O78=>C?DD% 6>?6^D% 38?% D:IQCP%
H;:I3<:;3LC?S%"=%:D%E78%=>:D%8?3D7;%=>3=%b,%JJ%O3D%?;36=?9%LP%
=>?%C?<:DC3=H8?R%=7%Q?;3C:T?%:;9:F:9H3CD%O>7%O7HC9%QC36?%O78=>V
C?DD%6>?6^D%:;%6:86HC3=:7;%3;9%9?<839?%=>?%F3CH?%3;9%:IQ78=3;6?%
7E%6>?6^D%:;%67II?86:3C%=83;D36=:7;DS%-?F?8=>?C?DDR%O>:C?%=>:D%
!7H8=%8?67<;:T?D%=>?%;7LC?%7LW?6=:F?%7E%b,%JJ%:=%9??ID%:=%Q87Q?8%
M01
%
58=S%/JdU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=7%3QQCP%=>?%Q>:C7D7Q>P%H;9?8CP:;<%=>?%";9?=?8I:;3=?%.?;=?;6?%
$3O%:;%:IQ7D:;<%Q?;3C=:?D%E78%:=D%F:7C3=:7;S%*>?%<:D=%7E%59IS%!:8S%
/KVJUUU%:D%=7%67;D:9?8%=>?%H;9?8CP:;<%6:86HID=3;6?D%7E%=>?%63D?%
DH6>%=>3=%:E%=>?%D:=H3=:7;%63CCD%E78%=>?%:IQ7D:=:7;%7E%=>?%3C=?8;3V
=:F?%Q?;3C=P%7E%!%;?%83=>?8%=>3;%:IQ8:D7;I?;=R%=>?%67H8=D%D>7HC9%
;7=% >?D:=3=?% =7% 97% D7S% 7D+$1$% W,(% n% T,#&*,('% W,(% 19% H,6*,(%
T$()$k=%Y#9=%4"!#,?9e
&
74(2&C?D>2&ZS0*&#""&(S0&40_9%$%(0$&50*(%)*06&%*&74(%'"0&
C?PD&#40&840$0*(@&')580*$#(%)*&(#T0$&0++0'(&-Q&)804#(%)*&)+&
"#R@&#*6&0`(%*.9%$S0$&-)(S&60-($&()&(S0&')*'9440*(&#5)9*(@&
010*&(S)9.S&(S0&'406%()4$&#*6&60-()4$&#40&*)(&#R#40&)+&(S0&
')580*$#(%)*2&
!,VVJKMW
&
79()5#(%'&!)580*$#(%)*&%+&7""&/0_9%$%(0$&740&H40$0*(
234% -7=?% =>3=% C?<3C% 67IQ?;D3=:7;% =3^?D% QC36?% 3H=7I3=:63CCP%
"(-$44%=>?8?%>3D%L??;%F3C:9%O3:F?8%=>?8?7ES
2L4% !7IQ?;D3=:7;% O>:6>% ?Z=:;<H:D>?D% Q8:;6:Q3C% 7LC:<3=:7;D%
3CD7%?Z=:;<H:D>?D%366?DD78P%7LC:<3=:7;DS%7T,(#$4,?9
264%
`*7%=>?%67;6H88?;=%3I7H;=a%I?3;D%=>3=%:E%7;?%9?L=%:D%C38<?8%
=>3;%=>?%7=>?8R%=>?%L3C3;6?%DHLD:D=D%3D%9?L=S
&
&
3*(04*#(%)*#"&!)48)4#(0&N#*T@&3*'2&12&37!@&0(&#"2
O/&<D=<>@&A9*2&B>@&CDEE
%
%
H8[WDG% ";% /d0UR% -3=:F:939% D?6H8?9% E87I% ";=?8;3=:7;3C%
!78Q783=?%b3;^_D%2"!b_D4%Q8?9?6?DD78V:;V:;=?8?D=%3%C73;%7E%,1U%
I:CC:7;S% *7% D?6H8?% =>:D% C73;R% -3=:F:939% I78=<3<?9% >?8% 8?3C%
Q87Q?8=:?D%:;%A3;:C3%3;9%bHC363;S%&E%=>:D%C73;R%7;CP%,JU%I:CC:7;%
O3D%3QQ87F?9%E78%8?C?3D?S%*>?%D3I?%3I7H;=%O3D%3QQC:?9%=7%Q3P%
7=>?8%7LC:<3=:7;D%=7%"!bS%*>HDR%-3=:F:939%6C3:ID%=>3=%D>?%9:9%
;7=%8?6?:F?%3;P=>:;<%E87I%=>?%3QQ87F?9%C73;S%$3=?8R%-3=:F:939%
I39?%3%I7;?P%I38^?=%QC36?I?;=%O:=>%"!b_D%Q8?9?6?DD78%:;%=>?%
3I7H;=%7E%,/%I:CC:7;%3=%/]k%:;=?8?D=%!$#%,(("0%E78%3%Q?8:79%
7E% KJ% 93PDS% A?3;O>:C?R% -3=:F:939% 3CC?<?9CP% E3:C?9% =7% Q3P% >?8%
I78=<3<?%:;9?L=?9;?DD%=7%"!b%D7%=>3=%=>?%C3==?8%8?EHD?9%=7%Q3P%
=>?%Q876??9D%7E%=>?%I7;?P%I38^?=%QC36?I?;=%7;%I3=H8:=P%LH=%3QV
M0N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JdU
QC:?9%=>?%3I7H;=%:;D=?39%=7%=>?%9?!%6:?;6P%:;%=>?%Q876??9D%7E%=>?%
3H6=:7;%D3C?%7E%=>?%I78=<3<?9%Q87Q?8=:?DS%c:=>%"!b_D%Q8?9?6?DD78%
L?:;<%=>?%7;CP%L:99?8R%D3:9%Q87Q?8=:?D%O?8?%D7C9%:;%:=D%E3F78%E78%
7;CP%,JU%I:CC:7;S%"!b%6C3:ID%=>3=%3E=?8%9?9H6=:;<%=>:D%3I7H;=%
-3=:F:939%:D%D=:CC%:;9?L=?9%:;%=>?%3I7H;=%7E%,N%I:CC:7;S
%
%
";%/d0JR%-3=:F:939%DH?9%"!b%E78%3;;HCI?;=%7E%=>?%D>?8V
:EE_D%D3C?%7E%=>?%I78=<3<?9%Q87Q?8=:?DR%E78%=>?%8?C?3D?%=7%>?8%7E%
=>?%L3C3;6?%7E%>?8%C73;%E87I%"!b%:;%=>?%3I7H;=%7E%,KU%I:CC:7;%
3;9%E78%8?67F?8P%7E%,/%I:CC:7;%8?Q8?D?;=:;<%=>?%Q876??9D%7E%>?8%
I7;?P% I38^?=% :;F?D=I?;=S% .>?% 3CC?<?D% =>3=% =>?% I78=<3<?% :D%
;7=% P?=% 9H?% 3;9% 9?I3;93LC?% 3;9R% >?;6?R% =>?% E78?6C7DH8?% O3D%
:CC?<3CS%"!b%3;DO?8?9R%D3P:;<%=>3=%:=%>3D%=>?%8:<>=%=7%3QQCP%78%
D?=%7EE%-3=:F:939_D%I7;?P%I38^?=%6C3:I%7E%,/%I:CC:7;S%"!b%=>HD%
:;=?8Q7D?D%67H;=?86C3:ID%=7%8?67F?8%,1S]%I:CC:7;%8?Q8?D?;=:;<%
=>?%L3C3;6?%7E%:=D%9?!%6:?;6P%6C3:I%3E=?8%9?9H6=:;<%=>?%Q876??9D%
7E%=>?%I7;?P%I38^?=%QC36?I?;=S
%
%
*>?% =8:3C% WH9<?% 789?8?9% "!b% =7% 9?C:F?8% =7% -3=:F:939% =>?%
3I7H;=%7E%,/SUN%I:CC:7;%67;9:=:7;?9%HQ7;%-3=:F:939_D%!%C:;<%3%
L7;9S%"!b%!%C?9%3%DQ?6:3C%6:F:C%36=:7;%E78%&$#+*'#,#*%O:=>%=>?%!7H8=%
7E%5QQ?3CDS%.3:9%67H8=%9:DI:DD?9%=>?%Q?=:=:7;R%D3P:;<%=>3=%=>?%6:8V
6HID=3;6?D%7E%=>:D%63D?%Q8?F?;=%C?<3C%67IQ?;D3=:7;%E87I%=3^:;<%
QC36?%L?63HD?%=>?%XH?D=:7;%7E%O>?=>?8%-3=:F:939%:D%:;9?L=?9%=7%
"!b%:;%=>?%3I7H;=%7E%,NS0/%I:CC:7;%8?Q8?D?;=:;<%=>?%9?!%6:?;6P%
L3C3;6?%3E=?8%=>?%E78?6C7DH8?%7E%I78=<3<?%:D%9:DQH=?9S
%%
%
RDD_EG% !3;% =>?8?% L?% C?<3C% 67IQ?;D3=:7;% :;% =>?% 63D?% 3=%
L38f
%
%
`EOIG%-7S%i;97HL=?9CPR%"!b%:D%:;9?L=?9%=7%-3=:F:939%:;%
=>?%3I7H;=%7E%,/SUN%I:CC:7;R%8?Q8?D?;=:;<%=>?%Q876??9D%7E%>?8%
I7;?P%I38^?=%:;F?D=I?;=S%bH=%O>?=>?8%-3=:F:939%:D%:;9?L=?9%
=7%"!b%:;%=>?%3I7H;=%7E%,NS0%I:CC:7;%8?Q8?D?;=:;<%=>?%9?!%6:?;6P%
L3C3;6?%3E=?8%=>?%E78?6C7DH8?%7E%=>?%I78=<3<?%?Z?6H=?9%=7%D?6H8?%
=>?%C73;%:D%9:DQH=?9S%*>:D%6:86HID=3;6?%Q8?F?;=D%C?<3C%67IQ?;D3V
=:7;%E87I%=3^:;<%QC36?S%*>?%F3C:9:=P%7E%=>?%?Z=83WH9:6:3C%E78?6C7DV
H8?%D3C?%3;9%"!b_D%6C3:I%E78%9?!%6:?;6P%38?%D=:CC%:;%XH?D=:7;R%D7%
IH6>%D7%=>3=%=>?%8?XH:8?I?;=%7E%58=S%/J]d%=>3=%=>?%9?L=D%IHD=%
L?% C:XH:93=?9% 3;9% 9?I3;93LC?% >3D% ;7=% P?=% L??;% I?=S% +?;6?R%
C?<3C% 67IQ?;D3=:7;% 63;;7=% =3^?% QC36?% H;9?8% 58=S% /JdU% 7E% =>?%
!:F:C%!79?S
M0]
%
58=S%/Jd/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
G0'(%)*&<
K,e7M3,K
&
74(2&C?DC2&,-"%.#(%)*$&5#Q&-0&5)6%!&06&-QW
&
XCY& !S#*.%*.&(S0%4&)-U0'(&)4&84%*'%8#"&')*6%(%)*$h
&
X?Y& G9-$(%(9(%*.&(S0&804$)*&)+&(S0&60-()4h
&
XBY& G9-4).#(%*.&#&(S%46&804$)*&%*&(S0&4%.S(&)+&(S0&'406%;
()42
!,VVJKMW
XCY& jK)1#(%)*d&L0!&*06
%
%
`bP%;7F3=:7;%:D%H;9?8D=779%=>?%DHLD=:=H=:7;%78%6>3;<?%7E%3;%
7LC:<3=:7;%LP%3;7=>?8R%O>:6>%?Z=:;<H:D>?D%78%I79:!%?D%=>?%!%8D=R%
?:=>?8%6>3;<:;<%:=D%7LW?6=%78%Q8:;6:Q3C%67;9:=:7;R%78%DHLD=:=H=:;<%
3;7=>?8%:;%QC36?%7E%=>?%9?L=78R%78%DHL87<3=:;<%3%=>:89%Q?8D7;%:;%
=>?%8:<>=%7E%=>?%68?9:=78Sa%7<%T,(#$4,%@Q<?9
%
%
*>?%=?8I%`Q8:;6:Q3C%67;9:=:7;Da%:;%58=S%/Jd/%7E%=>?%-?O%
!:F:C%!79?%D>7HC9%L?%67;D=8H?9%=7%:;6CH9?%3%6>3;<?%:;%=>?%Q?8:79%
=7%67IQCP%O:=>%=>?%7LC:<3=:7;R%O>:6>%6>3;<?%:;%=>?%Q?8:79%O7HC9%
7;CP%L?%Q38=:3C%;7F3=:7;R%D:;6?%=>?%Q?8:79%I?8?CP%3EE?6=D%=>?%Q?8V
E78I3;6?R%;7=%=>?%68?3=:7;%7E%=>?%7LC:<3=:7;S%7S(J%19%Z'Jm,-6,-=%
BU:%D[X8%@>U%cQUU;e?9
%X?Y&K)& L%++040*'0& %*& !%1%"& #*6& !)55)*& :#R& !)*'08($& )+&
K)1#(%)*
%
%
`b?=O??;%=>?%6:F:C%3;9%67II7;%C3OR%O:=>%8?E?8?;6?%=7%=>?%
?Z=:;<H:D>I?;=% 7E% 7;?% 7LC:<3=:7;% LP% =>?% 68?3=:7;% 7E% 3;7=>?8R%
=>?8?%D??ID%=7%L?%;7%9:EE?8?;6?S%i;9?8%L7=>%DPD=?ID%7E%WH8:DQ8HV
9?;6?R%:;%789?8%=7%?Z=:;<H:D>%7;?%7LC:<3=:7;%LP%=>?%68?3=:7;%7E%
3;7=>?8R%=>?%?Z=:;<H:D>I?;=%IHD=%L?%I39?%=7%6C?38CP%3QQ?38Sa%
7W*"%D"*&'%19%`,1,(,=%@B%K/*-9%CUC?9
%
%
`5%('1,+*'(=%H;9?8%=>?%8HC?D%7E%=>?%!:F:C%$3OR%./$(&$%+/$%
+$#0%/,4%6$$(%*(+#')"&$)%*(+'%+/$%0')$#(%('0$(&-,+"#$%'2%'"#%
&'00'(% -,.% 3"#*4!#")$(&$=% .,4% ,% 0')$% '2% $F+*(J"*4/*(J% '($%
'6-*J,+*'(%65%,('+/$#h%=>?%DHLD=:=H=:7;R%;7=%7E%3%;?O%Q3Q?8%78%
;7=?R%LH=%7E%3%;?O%7LC:<3=:7;R%:;%C:?H%7E%3;%7C9%7;?R%=>?%?EE?6=%7E%
O>:6>%O3D%=7%Q3PR%9:DD7CF?R%78%7=>?8O:D?%9:D6>38<?%:=Sa%7M'#)4%
,()%K/#,4$4=%d'-9%B=%!9%@<@<?9
M00
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/Jd/
XBY& L9#"&H948)$0&)4&b9*'(%)*&)+&K)1#(%)*
&
%
`5D%67HC9%L?%D??;R%H;C:^?%7=>?8%I79?D%7E%?Z=:;6=:7;%7E%7LV
C:<3=:7;DR%;7F3=:7;%:D%3%WH8:9:63C%36=%7E%)",-%EH;6=:7;%:;%=>3=%3=%
=>?%=:I?%:=%?Z=:;<H:D>?D%3;%7LC:<3=:7;R%:=%&#$,+$4%3%;?O%7;?%:;%
C:?H%7E%=>?%7C9Sa%7N'1\+9%'2%+/$%K9R9%19%Z,"+*4+,=%c[8e%PC%S9N9%V'9%
>C=%!9%:<<U?9
%
%
cVSWEG%c>:C?%3%+#"$%'#%!#'!$#%('1,+*'(%$F+*(J"*4/$4%3;%
7LC:<3=:7;R%3%Q38=:3CR%I79:!%63=78P%78%:IQ?8E?6=%;7F3=:7;%I?8?CP%
I79:!%?D%=>?%7C9%7LC:<3=:7;S%*>HDR%58=S%/Jd/%D3PD%`&LC:<3=:7;D%
I3P%L?%A&'")"('%LP%S%S%Sa%7D$$%WD=%H$69%:U=%:>BU?9%A78?7F?8R%
D:;6?% 3% ;?O% 78% I79:!%?9% 7LC:<3=:7;% 38:D?DR% ;7F3=:7;% `97?D% ;7=%
7Q?83=?% 3D% 3;% 3LD7CH=?% LH=% 7;CP% 3D% 3% 8?C3=:F?% ?Z=:;6=:7;Sa% 7<%
T,(#$4,%@Q<?9e
XFY& k%*6$&)+&K)1#(%)*
234% 8&&'#)*(J%+'%R+4%S63$&+%'#%K"#!'4$
/4%
X$,-%'#%S63$&+*1$%]%26>3;<:;<%=>?%7LW?6=%78%=>?%!#*(&*A
!,-%67;9:=:7;D%7E%=>?%7LC:<3=:7;4S%78#+9%:Q>:=%!,#9%:?9
J4%
K$#4'(,-%'#%D"63$&+*1$%Y%2!>3;<?%7E%,?8D7;D4
K4%
54%
D"64+*+"+*(J%=>?%Q?8D7;%7E%=>?%9?L=78%7EF!#'0*A
4*'(%78%I$-$J,&*'(?
b4%
D"6#'J,+*(J%3%=>:89%Q?8D7;%:;%=>?%8:<>=D%7E%=>?%
68?9:=78%26>3;<?%7E%68?9:=78%I3P%L?%LP%,J#$$0$(+%
]%`67;F?;=:7;3C%DHL87<3=:7;Ra%78%LP%'!$#,+*'(%
'2%-,.%]%`C?<3C%DHL87<3=:7;a4
T*F$)%2!>3;<?%7E%&LW?6=%3;9%,38=:?D4
2L4% 8&&'#)*(J%+'%+/$%H'#0%'2%R+4%['(4+*+"+*'(
264%
/4%
?ZQ8?DD
J4%
:IQC:?9% 2O>?;% =>?% =O7% 7LC:<3=:7;D% 38?% ?DD?;=:3CCP%
:;67IQ3=:LC?%O:=>%?36>%7=>?84
8&&'#)*(J%+'%R+4%EF+$(+%'#%E22$&+
/4%
+'+,-%78%$F+*(&+*1$%;7F3=:7;%2O>?;%=>?%7C9%7LC:<3=:7;%
:D%67IQC?=?CP%?Z=:;<H:D>?94
M0d
%
58=S%/Jd/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
&
&
%
%
H8[WDG%*>?%Q38=:?D%=7%3%63D?%E78%=>?%67CC?6=:7;%
7E%3%C73;%:;68?3D?9%=>?%:;9?L=?9;?DD%9H?%=7%3668H:;<%
:;=?8?D=R% E87I% ,JdURNd/% =7% ,MK/RJUUS% *>?% 67IQ87V
I:D?%3<8??I?;=%?Z=?;9?9%=>?%Q?8:79%7E%Q3PI?;=%3;9%
Q87F:9?9%E78%;?O%=?8ID%7E%Q3PI?;=R%3;9%Q87F:9?9%E78%
3%O3:F?8%7E%6C3:IDR%67H;=?86C3:IDR%3==78;?P_D%E??DR%78%
93I3<?D%=>3=%=>?%9?L=78D%I:<>=%>3F?%3<3:;D=%=>?:8%
68?9:=78DS%+7O?F?8R%=>?%D?==C?I?;=%;?:=>?8%63;6?CC?9R%
;78%I3=?8:3CCP%3C=?8?9%=>?%HDH3C%6C3HD?D%:;%=>?%8?3C%
?D=3=?% I78=<3<?DR% $9J9=% =>?% E78?6C7DH8?% 7E% =>?% I78=V
<3<?9%Q87Q?8=P%:;%63D?%7E%9?E3HC=S%R44"$G%!7HC9%:=%L?%
D3:9%=>3=%=>?%78:<:;3C%7LC:<3=:7;%7E%=>?%9?L=78D%>39%
L??;%:IQC:?9CP%I79:!%?9f%
%
%
`EOIG% B?DS% -7F3=:7;% :D% I?8?CP% I79:!%63=78P%
O>?8?%=>?%6>3;<?%L87H<>=%3L7H=%LP%3;P%DHLD?XH?;=%
3<8??I?;=%:D%I?8?CP%:;6:9?;=3C%=7%=>?%I3:;%7LC:<3=:7;%
2$9J9=%3%6>3;<?%7E%:;=?8?D=%83=?D4S%7Z,(L%'2%K/*-*!!*($4%
R4-,()4%19%86,-,)$3'=%BP%K/*-9%:@?%78%3;%?Z=?;D:7;%7E%
=:I?%=7%Q3PS%7b,6,(L,-,(%D"J,#%['9%19%K,&/$&'=%BB%
K/*-9%BBB?9
%
%
-7F3=:7;%7E%3%67;=836=%I3P%?:=>?8%L?%?Z=:;6=:F?%
78%I79:!%63=78PR%IH6>%L?:;<%9?Q?;9?;=%7;%=>?%;3=H8?%
7E%=>?%6>3;<?%3;9%=>?%:;=?;=:7;%7E%=>?%Q38=:?DS
%
%
(Z=:;6=:F?% ;7F3=:7;% :D% ;?F?8% Q8?DHI?9e% =>?8?%
IHD=% L?% 3;% ?ZQ8?DD% :;=?;=:7;% =7% ;7F3=?S% ";% 63D?D%
O>?8?%:=%:D%:IQC:?9R%=>?%36=D%7E%=>?%Q38=:?D%IHD=%6C?38CP%
9?I7;D=83=?%=>?:8%:;=?;=%=7%9:DD7CF?%=>?%7C9%7LC:<3=:7;%
3D%=>?%I7F:;<%67;D:9?83=:7;%E78%=>?%?I?8<?;6?%7E%=>?%
;?O%7;?S%"IQC:?9%;7F3=:7;%;?6?DD:=3=?D%=>3=%=>?%7C9%
7LC:<3=:7;%:D%67IQC?=?CP%DHQ?8D?9?9%LP%=>?%;?O%7;?S
%
%
*>?%=?D=%7E%:;67IQ3=:L:C:=P%:D%O>?=>?8%=>?P%63;%
D=3;9% =7<?=>?8R% ?36>% 7;?% >3F:;<% 3;% :;9?Q?;9?;=%
?Z:D=?;6?R%:E%=>?P%63;;7=%3;9%38?%:88?67;6:C3LC?R%=>?%
DHLD?XH?;=%7LC:<3=:7;%O7HC9%3CD7%?Z=:;<H:D>%=>?%!%8D=S%
5;%?Z=:;6=:F?%;7F3=:7;%O7HC9R%=>HDR%>3F?%=>?%=O:;%?EV
E?6=D%7ER%!%#4+R%?Z=:;<H:D>:;<%3;%?Z:D=:;<%7LC:<3=:7;%3;9R%
&
3")%")&M4#604$&b%*#*'0@&3*'2&12&\0%4$&
)+&,$'#4&&G)4%#*)@&A42@&0(&#"2&
O/&CFD<EB@&A9*2&C<@&?>>B
MdU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/Jd/
4$&'()=%68?3=:;<%3%;?O%7;?%:;%:=D%D=?39S%*>:D%^:;9%7E%
;7F3=:7;%Q8?DHQQ7D?D%3%67;"%H?;6?%7E%E7H8%2M4%?DD?;V
=:3C%8?XH:D:=?DG%2/4%3%Q8?F:7HD%F3C:9%7LC:<3=:7;R%2J4%3;%
3<8??I?;=%7E%3CC%Q38=:?D%67;6?8;?9%=7%3%;?O%67;=836=R%
2K4%=>?%?Z=:;<H:D>I?;=D%7E%=>?%7C9%7LC:<3=:7;R%3;9%2M4%
=>?%L:8=>%7E%3%F3C:9%;?O%7LC:<3=:7;S
J4%
!,#+*,-%78%0')*!%&,+'#5%Y%2=>:D%:D%3CD7%=?8I?9%:IQ?8V
E?6=%78%:IQ87Q?8%;7F3=:7;4
%
%
[+?8?%=>?%7C9%7LC:<3=:7;%:D%0$#$-5%I79:!%?9e%=>HDR%
:=%D=:CC%8?I3:;D%:;%E786?%?Z6?Q=%:;D7E38%3D%:=%>3D%L??;%
I79:!%?9S%.>7HC9%=>?8?%L?%3;P%97HL=%3D%=7%O>?=>?8%
=>?%;7F3=:7;%:D%=7=3C%78%Q38=:3CR%:=%D>3CC%L?%Q8?DHI?9%
=7%L?%I?8?CP%I79:!%63=78PS%7WD=%I$&9%PU=%:>PB?S\
X=Y& /0_9%$%(0$&+)4&K)1#(%)*&X%*&O0*04#"Y
234% *>?%?Z:D=?;6?%7E%3%#5$"'%7C9%7LC:<3=:7;S
cVSWEG%%/4%
"E%=>?%7C9%7LC:<3=:7;%:D%#&"'%78%-&-V(q".*V
(-*R%=>?8?%:D%;7=>:;<%=7%;7F3=?S%7T,),06,%
d),9% )$% 8)*,#+$% 19% W"0,($(J=% <<% K/*-9%
PPP?9
%
"E% =>?% 7C9% 7LC:<3=:7;% :D% #&"'5b$(R% ;7F3V
=:7;%:D%D=:CC%Q7DD:LC?%Q87F:9?9%=>?%7LC:<3=:7;%
>3D%;7=%P?=%L??;%3;;HCC?9S%78#+9%:Q><=%[*1*-%
[')$?9e
J4%
2L4% *>?%*(+$(+%=7%$F+*(J"*4/%78%=7%0')*25%=>?%7C9%7LC:<3=:7;%LP%3%
4"64+,(+*,-%)*22$#$(&$%2=>?%?Z=:;<H:D>I?;=%78%I79:!%63=:7;%
:=D?CE%:D%3%@(.i$*%7E%;7F3=:7;4S
264%
*>?%&,!,&*+5%3;9%&'(4$(+%'2%,--%+/$%!,#+*$4%2?Z6?Q=%:;%=>?%
63D?%7E%$F!#'0*4*'(=%O>?8?%=>?%7C9%9?L=78%97?D%('+%Q38=:6:V
Q3=?4S
&
&
N)Q$#R@&0(&#"2&12&3*(048S%"&H4)5)(%)*$@&0(&#"2
O/&??=D>@&V#42&?>@&CDEP
%
%
*>?%67;D?;=%7E%=>?%68?9:=78%=7%=>?%6>3;<?%7E%9?L=78DR%
O>?=>?8%:;%$F!#'0*4*'(%78%)$-$J,&*'(=%:D%3;%:;9:DQ?;D3LC?%
8?XH:8?I?;=S%.HLD=:=H=:7;%7E%7;?%9?L=78%E78%3;7=>?8%I3P%
9?C3P%78%Q8?F?;=%=>?%EHC!%CCI?;=%7E%=>?%7LC:<3=:7;%LP%8?3D7;%
Md/
%
58=S%/Jd/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
7E%=>?%:;3L:C:=P%78%:;D7CF?;6P%7E%=>?%;?O%9?L=78S%+?;6?R%=>?%
68?9:=78%D>7HC9%3<8??%=7%366?Q=%=>?%DHLD=:=H=:7;%:;%789?8%
=>3=%:=%I3P%L?%L:;9:;<%7;%>:IS
%
%
EF,0!-$G%";%3%67;=836=%O>?8?%^%:D%=>?%68?9:=78%3;9%f%
:D%=>?%9?L=78R%:E%f%?;=?8D%:;=7%3%67;=836=%O:=>%o%H;9?8%O>:6>%
>?%=83;DE?8D%=7%o%3CC%>:D%8:<>=D%H;9?8%=>?%!%8D=%67;=836=R%=7V
<?=>?8%O:=>%=>?%7LC:<3=:7;D%=>?8?H;9?8R%LH=%DH6>%=83;DE?8%
:D%;7=%67;D?;=?9%=7%78%3QQ87F?9%LP%^=%=>?8?%:D%;7%;7F3=:7;S%
^%63;%D=:CC%L8:;<%>:D%36=:7;%3<3:;D=%f%E78%=>?%Q?8E78I3;6?%
7E%=>?:8%67;=836=%78%93I3<?D%:;%63D?%7E%L8?36>S
294% *>?%F3C:9:=P%7E%=>?%;?O%7LC:<3=:7;S%7W*"%D"*&'%19%`,6,(,=%
@B%K/*-9%CUC?9
%
%
cVSWEG%"E%=>?%;?O%7LC:<3=:7;%:D%DHLW?6=%=7%3%DHDQ?;D:F?%
67;9:=:7;R%DH6>%3D%=>?%7L=3:;:;<%7E%D7I?%D:<;3=H8?DR%3;9%
=>?% 67;9:=:7;% 97?D% ;7=% I3=?8:3C:T?R% DH6>% ;?O% 7LC:<3=:7;%
;?F?8%L?63I?%F3C:9%78%?EE?6=:F?R%D7%;7%;7F3=:7;%>3D%8?DHC=?9S%
7T,#+*($k%19%[,1*1$4=%QB%K/*-9%B<:?9%"E%=>?%67;=?IQC3=?9%;?O%
7LC:<3=:7;%:D%?IL79:?9%:;%3%I?8?%983E=R%O>:6>%:D%H;D:<;?9%
3;9%=>?8?E78?%;7=%67;D?;=?9%=7R%;7%;?O%7LC:<3=:7;%:D%68?3=?9%
L?63HD?%7E%=>?%3LD?;6?%7E%;7F3=:7;S%7d,&,%19%b'4&,=%Q;%K/*-9%
P<<?9e
&
&
M)440$@&0(&#"2&12&!7
O/&D?=F>@&L0'2&CC@&CDD?
%
%
@3:D:;<%E78%=>?%!%8D=%=:I?%=>?%:DDH?%7E%;7F3=:7;%7;CP%
O>?;%=>?%63D?%O3D%3C8?39P%:;%=>?%!7H8=%7E%5QQ?3CD%97?D%
;7=%9?D?8F?%67;D:9?83=:7;%:;%=>:D%Q?=:=:7;S
X<Y& K)1#(%)*& 3$& K)(& ,*0& )+& (S0& V0#*$& /0').*%a06& -Q& (S0&
/01%$06&H0*#"&!)60&ZS040-Q&!4%5%*#"&:%#-%"%(Q&'#*&-0&
J`(%*.9%$S06
GGG&12&L08(2&)+&A9$(%'0@&0(&#"2
O/&C=ECBC@&79.2&E@&?>>P
%
%
-7F3=:7;R%3%6:F:C%C3O%67;6?Q=%8?C3=:;<%=7%=>?%I79:!%63=:7;%
7E%7LC:<3=:7;D%7D$$%8#+49%:Q>:A:PU@=%D$&9%;=%[/,!9%@=%W*+-$%R=%Z''L%
Rd%'2%+/$%($.%[*1*-%[')$?R%:D%;7=%7;?%7E%=>?%I?3;D%8?67<;:T?9%
LP% =>?% @?F:D?9% ,?;3C% !79?% O>?8?LP% 68:I:;3C% C:3L:C:=P% 63;% L?%
MdJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/Jd/
?Z=:;<H:D>?9e%>?;6?R%=>?%87C?%7E%;7F3=:7;%I3P%7;CP%L?%=7%?:=>?8%
Q8?F?;=%=>?%8:D?%7E%68:I:;3C%C:3L:C:=P%78%=7%63D=%97HL=%7;%=>?%=8H?%
;3=H8?%7E%=>?%78:<:;3C%L3D:6%=83;DQ78=3=:7;R%O>?=>?8%78%;7=%:=%O3D%
DH6>%=>3=%:=D%L8?36>%O7HC9%;7=%<:F?%8:D?%=7%Q?;3C%8?DQ7;D:L:C:=PR%
3D%O>?;%I7;?P%C73;?9%:D%I39?%=7%3QQ?38%3D%3%9?Q7D:=R%78%7=>?8%
D:I:C38%9:D<H:D?%:D%8?D78=?9%=7S%7K$'!-$%19%V$#5=%OA:>B;C=%H$69%B=%
:>;@?9%)78%=>3=%I3==?8R%;7F3=:7;%>3D%L??;%:;F7^?9%=7%8?F?8D?%
67;F:6=:7;D%:;%63D?D%O>?8?%3;%H;9?8CP:;<%67;=836=%:;:=:3CCP%9?V
!%;?9%=>?%8?C3=:7;%7E%=>?%Q38=:?DS%
%
%
-7=?%=>3=%=>?%63D?%7E%[#"k%19%N,(J,(%7@@P%K/*-9%<B;?R%6:=?9%
LP%Q?=:=:7;?8D%:;%=>?:8%QC?39:;<DR%O>?8?%=>?%F:6=:ID%7E%87LL?8P%
O?8?%?Z7;?83=?9%E87I%C:3L:C:=PR%!%;9%;7%3QQC:63=:7;%=7%=>?%:;D=3;=%
63D?S
!49a&12&O#*.#*
FFB&HS%"2&E=<&X?>>BY
%
%
H8[WDG%'8S%):C7;:C3%&S%!8HT%!3I3;3P3%':D=8:6=%':8?6=78%7E%%
*(.'5R%L7389?9%=>?%$@*%E87I%.?;S%,HP3=%5F?S%=7%A7;HI?;=7%
O>?;%>?8%>3;9L3<%O3D%DC3D>?9%3;9%=>?%67;=?;=D%O?8?%D=7C?;%
LP%3;%H;:9?;=:!%?9%Q?8D7;S%5I7;<%=>7D?%D=7C?;%O?8?%>?8%O3CC?=%
3;9%=>?%<7F?8;I?;=V:DDH?9%6?CCHC38%Q>7;?S%.>?%=>HD%8?Q78=?9%
=>?%:;6:9?;=%=7%=>?%Q7C:6?%3H=>78:=:?DS%+7O?F?8R%=>?%=>:?E%O3D%;7=%
C763=?9R%3;9%=>?%6?CCQ>7;?%O3D%;7=%8?67F?8?9S%.>?%3CD7%8?Q78=?9%
=>?%C7DD%=7%=>?%@?<:7;3C%':8?6=78%7E%*(.'5R%3;9%D>?%8?XH?D=?9%
=>3=%D>?%L?%E8??9%E87I%3667H;=3L:C:=P%E78%=>?%6?CCQ>7;?S%*>?%@?D:V
9?;=%5H9:=78%7E%=>?%!&5%9?;:?9%>?8%8?XH?D=%7;%=>?%<87H;9%=>3=%
D>?%C36^?9%=>?%9:C:<?;6?%8?XH:8?9%:;%=>?%6HD=79P%7E%<7F?8;I?;=%
Q87Q?8=P%3;9%O3D%789?8?9%=7%Q3P%=>?%QH86>3D?%F3CH?%:;%=>?%=7=3C%
3I7H;=%7E%,MRJK0S%*>?%!&5%E7H;9%;7%DHE!%6:?;=%WHD=:!%63=:7;%=7%
<83;=% =>?% 8?XH?D=% E78% 8?C:?E% E87I% 3667H;=3L:C:=PS% "DDH?G% "D% =>?%
!&5nD%!%;9:;<D%6788?6=f%
%
%
`EOIG%*>?%.HQ8?I?%!7H8=%8?F?8D?9%=>?%8HC:;<%3;9%E7H;9%
=>3=%8:9:;<%=>?%$@*%63;;7=%!$#%4$%L?%9?;7H;6?9%3D%3%;?<C:<?;=%
36=%I78?%D7%L?63HD?%!8HTnD%I79?%7E%=83;D:=%O3D%:;"%H?;6?9%LP%
=:I?% 3;9% I7;?P% 67;D:9?83=:7;e% =>3=% D>?% L7389?9% =>?% $@*% =7%
L?%3LC?%=7%388:F?%:;%!3C7763;%:;%=:I?%E78%K%QSIS%I??=:;<e%=>3=%
3;P%Q8H9?;=%3;9%83=:7;3C%Q?8D7;%H;9?8%D:I:C38%6:86HID=3;6?D%
63;%8?3D7;3LCP%L?%?ZQ?6=?9%=7%97%=>?%D3I?e%=>3=%Q7DD?DD:7;%7E%3%
6?CCQ>7;?%D>7HC9%;7=%>:;9?8%7;?%E87I%L7389:;<%=>?%$@*%6736>%
MdK
%
58=S%/JdJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
3D%!8HT%9:9%67;D:9?8:;<%=>3=%O>?=>?8%D>?%879?%3%W??Q%78%LHDR%
=>?% 8:D^% 7E% =>?E=% O7HC9% >3F?% 3CD7% L??;% Q8?D?;=e% =>3=% L?63HD?%
7E%>?8%8?C3=:F?CP%C7O%Q7D:=:7;%3;9%Q3PR%D>?%O3D%;7=%?ZQ?6=?9%=7%
>3F?%>?8%7O;%F?>:6C?%78%=7%8:9?%3%=3Z:63Le%D>?%9:9%;7=%>3F?%3%
<7F?8;I?;=V3DD:<;?9%F?>:6C?e%=>3=%QC36:;<%=>?%6?CCQ>7;?%:;%L3<%
3O3P%3D%D>?%9:9%:D%789:;38:CP%DHE!%6:?;=%638?%7E%3%6?CCQ>7;?%O>:C?%
=83F?CC:;<%7;%L7389%=>?%$@*e%3;9%=>3=%=>?%8?6789D%9:9%;7=%D>7O%
3;P% DQ?6:!%6% 36=% 7E% ;?<C:<?;6?% 7;% >?8% Q38=% 3;9% ;?<C:<?;6?% 63;%
;?F?8%L?%Q8?DHI?9S%%
&
74(2&C?D?2&3*&)4604&(S#(&#*&)-"%.#(%)*&5#Q&-0&0`(%*.9%$S06&
-Q&#*)(S04&RS%'S&$9-$(%(9(0$&(S0&$#50@&%(&%$&%5804#(%10&(S#(&
%(& -0& $)& 60'"#406& %*& 9*0_9%1)'#"& (045$@& )4& (S#(& (S0& )"6& #*6&
(S0&*0R&)-"%.#(%)*&-0&)*&0104Q&8)%*(&%*')58#(%-"0&R%(S&0#'S&
)(S042&
!,VVJKMW
XCY& J`840$$&#*6&358"%06&K)1#(%)*
&
%
566789:;<%=7%=>?%I3;;?8%78%E78I%:;%O>:6>%=>?%;7F3=:7;%>3D%
L??;%67;D=:=H=?9%78%I39?R%;7F3=:7;%:D%6C3DD:!%?9%:;=7G
234% $F!#$44%('1,+*'(=%:=%:D%9?6C38?9%:;%H;?XH:F763C%=?8IDS%78#+9%
:Q>Q?9
2L4% *0!-*$)%('1,+*'(%267IQC?=?%78%DHLD=3;=:3C%:;67IQ3=:L:C:=P4S%
7Z'#3,%19%T,#*,('=%P<%S9N9%QBC;h%4$$%N"$##$#'%19%['"#+%'2%
8!!$,-4=%OAQ:;C;=%H$69%Q<=%:>;>?9
X?Y& \)R&358"%06&K)1#(%)*&V#Q&N0&V#60
&
%
"IQC:?9% ;7F3=:7;% :D% 97;?% LP% I3^:;<% .ib.*5-*"5$%
!+5-h(.%Y
234% :;% =>?% '63$&+% 78% 4"63$&+% 0,++$#% 7E% =>?% 67;=836=% 2EF,0!-$G%
9?C:F?8P%7E%3%638%:;D=?39%7E%3%9:3I7;9%8:;<4
2L4% :;%=>?%63HD?%78%67;D:9?83=:7;%7E%=>?%67;=836=%cEF,0!-$G%3;%
HQO389%6>3;<?%:;%=>?%Q8:6?S%7T,+"+$%19%`$#(,()$k=%;%K/*-9%
;<?9e
%
%
7VSWEG%@?9H6=:7;%:;%Q8:6?%:IQC:?D%3%#$0*44*'(9?
264%
:;%=>?%!#*(&*!,-%+$#04%78%&'()*+*'(4%7E%=>?%67;=836=
MdM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%/JdJ
cEF,0!-$4G
/4%
:E%3%9?L=%DHLW?6=%=7%3%67;9:=:7;%:D%I39?%3;%3LD7CH=?%
7;?%O:=>7H=%3%67;9:=:7;S%7T,&'()#,5%19%X"*k=%;;%K/*-9%
B;Q?9
J4%
8?9H6=:7;%7E%=>?%=?8I%78%Q?8:79%78:<:;3CCP%D=:QHC3=?9S%
7b,6,(L,-,(%D"J,#%['9%19%K,&/$&'=%BB%K/*-9%BBB?9
K4%
O>?;R%O:=>7H=%=>?%67;D?;=%7E%D7I?%DHLD68:L?8DR%=>?%
63Q:=3C%D=76^%7E%3%678Q783=:7;%:D%:;68?3D?9S%+?8?%=>?%
DHLD68:L?8D%O>7%9:9%;7=%67;D?;=%=7%=>?%:;68?3D?%38?%
8?C?3D?9%78%E8??9%E87I%=>?:8%DHLD68:Q=:7;S%7V,+*'(,-%
EF&/,(J$%['9%19%X,0'4=%B:%K/*-9%P:U?9e
%
%
cVSWEG% -7F3=:7;% =>8H% &/,(J$% 7E% =>?% 7LW?6=R%
&,"4$=%78%!#*(&*!,-%+$#04%3;9%&'()*+*'(4%:D%('+%Q8?V
DHI?9e%6C?38%Q877E%7E%;7F3=:7;%IHD=%L?%<:F?;S%7T,#A
+*($k%19%[,1*1$4=%QB%K/*-9%B>:?9e
XBY& !#$0$
&
&
K#(%)*#"&J`'S#*.0&!)2@&:(62&12&/#5)$
=C&HS%"2&BC>
&
%
H8[WDG%5%678Q783=:7;%O3D%L?:;<%?D=3LC:D>?9S%8%DHLD68:L?9%
=7%D7I?%D>38?D%7E%D=76^%:;%=>?%Q87Q7D?9%678Q783=:7;S%c:=>7H=%8\4%
67;D?;=R%=>?%3H=>78:T?9%63Q:=3C%7E%=>?%678Q783=:7;%O3D%:;68?3D?9S%
R44"$G%"D%8%8?C:?F?9%7E%>:D%7LC:<3=:7;%=7%Q3P%E78%D3:9%D>38?Df
%
%
`EOIG%B?DS%`&;?%O>7%DHLD68:L?D%E78%D=76^%7E%3%Q87Q7D?9%
678Q783=:7;%:D%8?C:?F?9%7E%>:D%7LC:<3=:7;R%:ER%O:=>7H=%>:D%67;D?;=R%
=>?%3H=>78:T?9%63Q:=3C%D=76^%7E%=>?%678Q783=:7;%:D%:;68?3D?9Sa
&
&
/%)$@&0(&#"2&12&A#'%*()@&H#"5#&Q&\)*)$
FD&HS%"2&P
&
%
H8[WDG%8%8?;=?9%3%>7HD?%E87I%Z9%";%=>?%67;=836=%7E%C?3D?R%
=>?%C?DD??%8%O3D%<:F?;%3H=>78:=P%=7%3DD:<;%=>?%C?3D?%=7%D=83;<?8DS%
b?63HD?%7E%=>:D%8%C?3D?9%:=%=7%[9%R44"$G%"D%8%8?C?3D?9%E87I%>:D%
7LC:<3=:7;%=7O389D%=>?%C?DD78%Zf
%
%
`EOIG%`5%Q87F:D:7;%:;%3%C?3D?%H;9?8%O>:6>%=>?%C?DD??%:D%
3H=>78:T?9%=7%3DD:<;%:=%=7%D=83;<?8D%=7%=>?%67;=836=%97?D%;7=R%:;%
=>?%?F?;=%7E%DH6>%3DD:<;I?;=R%8?C?3D?%=>?%78:<:;3C%C?DD??%E87I%
Md1
%
58=S%/JdJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
>:D%7LC:<3=:7;D%=7%=>?%C?DD78R%H;C?DD%:=%L?%DQ?6:!%63CCP%3<8??9%=>3=%
=>?%3DD:<;I?;=%D>3CC%>3F?%=>3=%?EE?6=Sa
&
&
H0((04$)*&12&7a#6#
E&HS%"2&FB?
&
%
H8[WDG% 8% 7O?9% [% ,1UU% 3;9% ,KRUUU% ?F:9?;6?9% LP% =O7%
Q87I:DD78P%;7=?DS%$3=?8R%3%;?O%C73;%7E%,KUU%O3D%7L=3:;?9S%bP%
?ZQ8?DD%3<8??I?;=R%=>?%=>8??%9?L=D%O?8?%67;D7C:93=?9%:;=7%7;?%
Q87I:DD78P%;7=?%E78%,KR0UU%2,1UU%QCHD%,KRUUU%QCHD%,KUU4S%*>3=%
=>?%C3D=%Q87I:DD78P%;7=?%O3D%=7%=3^?%=>?%QC36?%7E%=>?%7=>?8D%O3D%
,J#$$)%"!'(9%R44"$G%"D%=>?8?%;7F3=:7;%>?8?f
%
%
%
%
2VSWEG%+39%=>?8?%L??;%;7%Q877E%=>3=%=>?%=>:89%;7=?%:;V
=?;9?9% =7% 8?QC36?% =>?% 7=>?8DR% =>?8?% 8?3CCP% O7HC9% L?% ;7=>:;<%
:;67;D:D=?;=%O:=>%>3F:;<%9:EE?8?;=%;7=?D%E78%9:EE?8?;=%3I7H;=S%"E%
=>?8?%:D%;7%;7F3=:7;R%3CC%=>?%7LC:<3=:7;D%O7HC9%8?I3:;%DHLD:D=:;<%
3;9%=>?%9?L=78%O7HC9%L?%C:3LC?%E78%3CCS4
&
&
O#*a)*&12&A96.0&G#*'S)
O/&=<F=>@&A9"2&?=@&CDEB
%
%
"E%3%I78=<3<?%3<8??I?;=%:D%8?QC36?9%LP%3%DH8?=P%L7;9R%=>?%
I78=<3<??_D%8:<>=%O7HC9%L?%3L8:9<?9S%5%I78=<3<?%C:?;%:D%3%8:<>=%
*(%#$0%3;9%:D%:;D?Q383LC?%E87I%=>?%Q87Q?8=PR%O>:C?%=>?%C:?;%7E%3%
DH8?=P%:D%7;CP%3%8:<>=%*(%!$#4'(,09%
&
&
M0)!&$()&O9%*.)*#@&A42&12&!%(Q&b%$'#"&)+&V#*%"#
:;<>>BB@&7842&F@&CDEF
%
%
"E% 3% =8HD=% 8?C3=:7;D>:Q% :D% ;7F3=?9% =7% 3% 9?L=78V68?9:=78% 78%
C73;%8?C3=:7;D>:Q%!#*'#%=7%=>?%!%C:;<%7E%3%68:I:;3C%:;E78I3=:7;%LP%
=>?%!%D63CR%=>?8?%O7HC9%L?%;7%68:I:;3C%C:3L:C:=P%E78%?D=3E3S
`EOIG%B?DR%:;%F:?O%7E%=>?%6>3;<?D%I39?S
XFY& 3*$(#*'0$&ZS0*&(S0&!)94(&\0"6&MS#(&MS040&Z#$&K,&J`;
(%*'(%10&K)1#(%)*
%
%
2+?8?%=>?%78:<:;3C%67;=836=%78%7LC:<3=:7;%8?I3:;DR%DHLW?6=%
7;CP%=7%=>?%DC:<>=%I79:!%63=:7;D%:;=879H6?9S%";%7=>?8%O789DR%7;CP%
3%0')*!%&,+'#5%;7F3=:7;%>3D%L??;%?EE?6=?9S4
MdN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JdJ
234% c>?;%=>?8?%38?%7;CP%4-*J/+%3C=?83=:7;D%78%I79:!%63=:7;D%:;%
=>?%67;D=8H6=:7;%QC3;D%7E%3%LH:C9:;<S%7W*"%D"*&'%19%`,6,(,=%
@B%K/*-9%CUC?9
2L4% c>?;% =>?% ;?O% 67;=836=% I?8?CP% 67;=3:;D% 4"!!-$0$(+,#5%
,J#$$0$(+9%784*,+*&%K$+#'-$"0%['9%19%g",#5%D*0%K,'=%c[8e%
@U%S9N9%D"!!9%V'19%:=%:>@:=%!9%@@?9
264%
c>?;%,))*+*'(,-%*(+$#$4+%:D%3<8??9%HQ7;S%7Z,(L%'2%+/$%K9R9%
19%N''&/=%@B%K/*-9%B:@?9
294% c>?;%399:=:7;3C%D?6H8:=P%:D%<:F?;S%7Z,(L%'2%+/$%K9R9%19%`$#A
#*)J$=%@C%K/*-9%BC?9
2?4% c>?;R%3E=?8%3%!%;3C%WH9<I?;=R%3%67;=836=%O3D%?;=?8?9%:;=7%
Q8?6:D?CP%=7%Q87F:9?%3%I?=>79%7E%Q3PI?;=%7=>?8%=>3;%=>3=%
D=3=?9% :;% =>?% WH9<I?;=S% 7o,!,(+,% 19% X'+,$&/$=% Q:% K/*-9%
:B@?9
%
%
cVSWEG%bH=%=>?%.HQ8?I?%!7H8=%>3D%>?C9%=>3=%:E%=>?%
7LW?6=% 7E% =>?% ;?O% 67;=836=% :D% =7% D?==C?% =>?% WH9<I?;=R% LP%
8?9H6:;<%=>?%3I7H;=%D=3=?9%:;%=>?%WH9<I?;=R%3;9%LP%D=:QHV
C3=:;<%3;%3==78;?P_D%E??D%:;%63D?%7E%;7;VQ3PI?;=R%3;9%LP%
:;D?8=:;<%3%Q?;3C=P%6C3HD?R%=>?%3")J0$(+%I3P%L?%67;D:9?8?9%
=7%>3F?%L??;%;7F3=?9S%7H",%[,0%O"%19%f,!%H,"&'=%C@%K/*-9%
Q<C?9e
2E4%
c>?;%3%<H383;=78%?;=?8D%:;=7%3;%3<8??I?;=%O:=>%=>?%68?9:V
=78%=>3=%>?%2=>?%<H383;=784%O:CC%3CD7%L?%3%Q8:;6:Q3C%9?L=78S%
2+?8?%=>?%78:<:;3C%Q8:;6:Q3C%9?L=78%:D%;7=%8?C?3D?9%E87I%>:D%
7LC:<3=:7;4S%7D,(+'4%19%X$5$4=%:U%K/*-9%:QP?9
2<4% c>?;%=>?%68?9:=78%:;%=>?%I?3;=:I?%#$2#,*(4%E87I%278%E78V
L?38D%E87I4%DH:;<%=>?%9?L=78%7W$,-%T'+'#4%19%['(+*($(+,-%
R(49%['9=%B>%K/*-9%<:@?=%78%?F?;%O>?;%=>?%68?9:=78%0$#$-5%
?Z=?;9D%=>?%=?8I%7E%Q3PI?;=R%E78%>?8?%=>?%Q?8:79%I?8?CP%
3EE?6=D%=>?%Q?8E78I3;6?R%('+%=>?%68?3=:7;%7E%=>?%7LC:<3=:7;S%
7R(&/,"4+*%19%f"-'=%PQ%K/*-9%>C<%,()%o,!,(+,%19%I$%X'+,$&/$=%
Q:%K/*-9%:B@?9
%
%
cVSWEG%+7O?F?8R%<H383;=78D%O>7%97%('+%67;D?;=%=7%
=>?%?Z=?;D:7;%7E%=?8I%38?%8?C?3D?9%E87I%=>?:8%7LC:<3=:7;%7E%
<H383;=P%LP%?ZQ8?DD%Q87F:D:7;%7E%=>?%C3OR%3;9%('+%L?63HD?%7E%
3;P%?Z=:;6=:F?%I79:!%63=:7;S%7D$$%8#+9%QUC>=%[*1*-%[')$?9e
Md]
%
58=S%/JdJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
2>4% c>?;%=>?%QC36?%7E%Q3PI?;=%:D%6>3;<?9%78%O>?;%=>?8?%:D%3%
F38:3=:7;%:;%=>?%3I7H;=%7E%Q38=:3C%Q3PI?;=DS%7<%T,(#$4,%
@Q>?9
2:4%
c>?;%3%QHLC:6%:;D=8HI?;=%:D%?Z?6H=?9%=7%&'(!%#0%3%F3C:9%
67;=836=R%O>?=>?8%783C%78%:;%3%Q8:F3=?%:;D=8HI?;=S%7R6*)9?
2W4%
c>?;%Q3PI?;=%7E%=>?%QH86>3D?%Q8:6?%E78%6?8=3:;%=8H6^D%:D%
I39?%LP%=>?%?Z?6H=:7;%7E%3%!#'0*44'#5%('+$%E78%4,*)%!#*&$9%
+?8?R%=>?8?%:D%('%;7F3=:7;%7E%=>?%67;=836=%7E%D3C?S%7O"($+,%
T'+'#%['9%19%Z,J"*'%Z"4%['9=%OA:B:BC=%Y"(9%PU=%:>;U?9
X=Y& !#$0$
&
&
M%9&G9%')&12&\#-#*#
F=&HS%"2&P>P
&
%
H8[WDG%8%?;<3<?9%Z%=7%67;D=8H6=%3%LH:C9:;<%E78%>:I%78?9%";%
=>?%Q876?DD%7E%=>?%67;D=8H6=:7;R%I3;P%O8:==?;%3C=?83=:7;D%O?8?%
3<8??9%HQ7;%3;9%8?3CCP%I39?R%LH=%:=%O3D%Q87F?9%=>3=%?DD?;=:3CCPR%
=>?%QC3;D%E7CC7O?9%O?8?%=>?%78:<:;3C%QC3;DS%"=%IHD=%L?%D=3=?9%
=>3=%:;%=>?%67;=836=R%3%DQ?6:!%6%3I7H;=%E78%=>?%67;D=8H6=:7;%O3D%
3<8??9%HQ7;S%$3=?8R%O>?;%=>?%LH:C9:;<%O3D%!%;:D>?9R%=>?%67;V
=836=78%O3;=?9%=7%3L3;97;%=>?%78:<:;3C%Q8:6?%7;%=>?%<87H;9%=>3=%
=>?%3C=?83=:7;D%:;%=>?%LH:C9:;<%>39%63HD?9%3;%3L3;97;I?;=%78%
3%('1,+*'(%7E%=>?%7C9%67;=836=S%*>?%67;=836=78%=>?8?E78%O3;=?9%
=7%L?%Q3:9R%;7=%7;%=>?%L3D:D%7E%=>?%67;=836=R%LH=%7;%=>?%L3D:D%7E%
a",(+"0%0$#"*+S%*>?%7O;?8%9:9%;7=%67;D?;=%=7%=>:DS%R44"$G%c3D%
=>?8?%;7F3=:7;%>?8?f
%
%
`EOIG%*>?8?%O3D%;7%;7F3=:7;%>?8?S%*>?%7C9%67;=836=%O3D%
;7=%3L3;97;?9%D:;6?R%3E=?8%3CCR%=>?%78:<:;3C%QC3;D%O?8?%E7CC7O?9S%
*>?8?E78?R%O:=>7H=%=>?%67;D?;=%7E%=>?%7O;?8R%=>?%67;=836=78%63;V
;7=%=8?3=%=>?%7C9%67;=836=%3D%3L3;97;?9S%*>?%67;=836=78R%O:=>7H=%
=>?%67;D?;=%7E%=>?%7O;?8R%63;;7=%8?67F?8%7;%=>?%L3D:D%7E%a",(+"0%
0$#"*+%27;%=>?%O78^%97;?4S%@3=>?8R%=>?%67;=836=%Q8:6?%O:CC%E78I%
=>?%L3D:D%E78%Q3PI?;=R%QCHD%=>?%67D=%7E%=>?%3C=?83=:7;DS
%
%
7VSWEG%i;9?8%58=S%/]JM%7E%=>?%-?O%!:F:C%!79?R%=>?%67;=836V
=78%63;;7=%9?I3;9%3;%:;68?3D?%:;%=>?%Q8:6?%H;C?DD%=>?%6>3;<?%
:;%=>?%QC3;D%3;9%DQ?6:!%63=:7;D%O3D%,"+/'#*k$)%*(%.#*+*(J%3;9%
=>?%,))*+*'(,-%Q8:6?%=7%L?%Q3:9%O3D%3CD7%9?=?8I:;?9%:;%O8:=:;<%
LP%L7=>%Q38=:?DS%i;9?8%=>?%7C9%!:F:C%!79?R%('%4"&/%#$a"*4*+$%*(%
.#*+*(J%.,4%$44$(+*,-9?
Md0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JdJ
&
&
7$%#(%'&H0(4)"095&!)2&12&c9#Q&G%5&H#)
X!272Y&F>&,2O2&G9882&K)12&C@&CDFC@&82&FF
&
%
H8[WDG%8=%:;%3%67;=836=%7E%3<?;6P%O:=>%Z=%3<8??9%=7%L?%=>?%
3<?;=%7E%=>?%C3==?8S%";%=>?%67H8D?%7E%=>?%3<?;6PR%=>?%3<?;=%O3D%
<:F?;%6?8=3:;%Q8:F:C?<?D%3;9%E36:C:=:?DR%O>:6>R%>7O?F?8R%O?8?%;7=%
:;67IQ3=:LC?%O:=>%=>?%7C9%3<8??I?;=S%R44"$G%c3D%=>?8?%;7F3=:7;%
>?8?f
%
%
`EOIG%*>?8?%O3D%;7%;7F3=:7;%>?8?%L?63HD?%=>?8?%:D%8?3C%:;V
67IQ3=:L:C:=P%L?=O??;%=>?%7C9%3;9%=>?%;?O%3<8??I?;=DS%b?D:9?DR%
=>?%;?O%3<8??I?;=%O3D%I?8?CP%7E%3%DHQQC?I?;=3C%;3=H8?S
&
&
i#8#*(#&12&/)(#0'S0
?C&HS%"2&C=F
&
%
H8[WDG% ";% 3% !%;3C% WH9<I?;=R% r3Q3;=3% O3D% 9?6C38?9% =>?%
9?L=78%7E%&8=:TS%$3=?8R%r3Q3;=3%3;9%&8=:T%3<8??9%=>3=%=>?%WH9<V
I?;=% O3D% =7% L?% ?Z=:;<H:D>?9% LP% Q3PI?;=% :;% I7;=>CP% :;D=3CCV
I?;=DR%O:=>%=>?%D=:QHC3=:7;%=>3=%:;%63D?%7E%9?E3HC=R%&8=:T%67HC9%
DH?% r3Q3;=3S% r3Q3;=3% C3=?8% 9?E3HC=?9S% &8=:TR% =7% Q87=?6=% >:D%
8:<>=DR%7L=3:;?9%3;%?Z?6H=:7;%7E%=>?%!%;3C%WH9<I?;=%8?E?88?9%=7R%
3;9%D7%=>?%Q87Q?8=P%7E%r3Q3;=3%O3D%C?F:?9%HQ7;S%r3Q3;=3%;7O%
:;D=:=H=?9%=>:D%36=:7;%E78%93I3<?D%7;%=>?%<87H;9%=>3=%=>?%?Z?6HV
=:7;%O3D%:IQ87Q?8R%=>?%WH9<I?;=%>3F:;<%L??;%?Z=:;<H:D>?9%LP%
;7F3=:7;S
%
%
`EOIG%*>?%67;=836=%9:9%;7=%?ZQ8?DDCP%?Z=:;<H:D>%=>?%7LC:V
<3=:7;D%?Z:D=:;<%:;%D3:9%WH9<I?;=S%&;%=>?%67;=838PR%:=%?ZQ8?DDCP%
8?67<;:T?D%=>?%7LC:<3=:7;D%?Z:D=:;<%L?=O??;%=>?%Q38=:?D%:;%D3:9%
WH9<I?;=R%3;9%?ZQ8?DDCP%Q87F:9?D%3%I?=>79%LP%O>:6>%=>?%D3I?%
D>3CC%L?%?Z=:;<H:D>?9S%*>?%67;=836=R%:;D=?39%7E%67;=3:;:;<%Q87F:V
D:7;D%3LD7CH=?CP%:;67IQ3=:LC?%O:=>%=>?%7LC:<3=:7;D%7E%=>?%WH9<V
I?;=R%?ZQ8?DDCP%83=:!%?D%DH6>%7LC:<3=:7;D%3;9%67;=3:;D%Q87F:D:7;D%
E78%D3=:DEP:;<%=>?IS%*>?%D3:9%3<8??I?;=%D:IQCP%<3F?%r3Q3;=3%3%
I?=>79%3;9%I78?%=:I?%E78%=>?%D3=:DE36=:7;%7E%=>?%WH9<I?;=S%"=%9:9%
;7=%?Z=:;<H:D>%=>?%7LC:<3=:7;D%67;=3:;?9%:;%=>?%WH9<I?;=%H;=:C%
=>?%=?8ID%7E%D3:9%67;=836=%>39%L??;%EHCCP%67IQC:?9%O:=>S%+39%
r3Q3;=3%67;=:;H?9%=7%67IQCP%O:=>%=>?%67;9:=:7;D%7E%=>?%67;=836=R%
>?%I:<>=%>3F?%DH66?DDEHCCP%:;F7^?9%:=D%Q87F:D:7;D%3<3:;D=%=>?%:DV
DH3;6?%7E%3;%?Z?6H=:7;%HQ7;%=>?%D3:9%WH9<I?;=S%*>?%67;=836=%3;9%
=>?%QH;6=H3C%67IQC:3;6?%O:=>%:=D%=?8ID%7;CP%9?C3P?9%=>?%8:<>=%
Mdd
%
58=S%/JdJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
7E%=>?%9?E?;93;=%=7%3;%?Z?6H=:7;%HQ7;%=>?%WH9<I?;=S%*>?8?%O3D%
=>?8?E78?%;7%;7F3=:7;R%3;9%?Z?6H=:7;%O3D%Q87Q?8S
&
&
b9#&!#5&:9&12&g#8&b#9')
PF&HS%"2&?EP
&
%
H8[WDG%5%9?L=78%O3DR%LP%!%(,-%3")J0$(+=%789?8?9%=7%Q3P%
,/R1UUR%O:=>%C?<3C%:;=?8?D=%3;9%67D=DS%$3=?8R%=>?%9?L=78%?Z?6H=?9%
3%I78=<3<?%:;%E3F78%7E%=>?%WH9<I?;=%68?9:=78%67;=3:;:;<%=>?%E7CV
C7O:;<%=?8IDG
/4%
*>?%9?L=%O3D%8?9H6?9%=7%,/RJUUR%Q3P3LC?%:;%E7H8%I7;=>CP%
:;D=3CCI?;=D%7E%,KUU%?36>S
J4%
*>?%9?L=78_D%&,0,#*(%O3D%I78=<3<?9%=7%=>?%68?9:=78S
K4%
";%63D?%7E%E3:CH8?%=7%Q3P%3;P%7E%=>?%:;D=3CCI?;=DR%=>?%9?L=78%
O7HC9%Q3P%E78%3==78;?P_D%E??D%3;9%WH9:6:3C%67D=D%Y%:;%=>?%
36=:7;%=7%L?%L87H<>=%LP%=>?%68?9:=78S
M4%
*>?%9:EE?8?;6?%7E%,KUU%O7HC9%>3F?%=7%L?%<:F?;%=7%=>?%68?9:V
=78S
14%
*>?% 3<8??I?;=% O3D% ?;=?8?9% :;=7% 3D% 3% D?==C?I?;=% 7E% =>?%
WH9<I?;=S%
%
%
RDD_EG%c3D%=>?8?%?Z=:;6=:F?%;7F3=:7;f
%
%
`EOIG% *>?8?% O3D% ?Z=:;6=:F?% ;7F3=:7;R% :;% F:?O% 7E% =>?%
*(&'0!,+*6*-*+5% L?=O??;% =>?% WH9<I?;=% 3;9% =>?% 67;=836=R% 67;V
D:9?8:;<%=>?%E36=%=>3=%=>?%WH9<I?;=%O3D%Q3P3LC?%3=%7;6?R%O3D%
H;D?6H8?9R%3;9%67;=3:;?9%3%D=:QHC3=:7;%E78%3==78;?P_D%E??DS%*>?%
67;=836=%O3D%-&*%3%I?8?%?Z=?;D:7;%7E%=>?%Q?8:79%O:=>:;%O>:6>%
=7%Q3P%=>?%WH9<I?;=%L?63HD?%=>?%67;=836=%:=D?CE%D=3=?9%=>3=%=>?%
Q87I:D?%=7%Q3P%=>?%,/RJUU%O3D%Q8?6:D?CP%I39?%3D%3%4$++-$0$(+%
7E%D3:9%WH9<I?;=S%*>?8?%O7HC9%>3F?%L??;%('%4$++-$0$(+%>39%:=%
;7=%L??;%*0!-*&*+-5%3<8??9%=>3=%=>?%7LC:<3=:7;%:;%=>?%WH9<I?;=%
O3D%67;D:9?8?9%LP%L7=>%Q38=:?D%3D%,-#$,)5%$F+*(J"*4/$)9
&
&
3*'S#9$(%&#*6&!)2&12&g9")
BF&HS%"2&DPE
&
%
H8[WDG%)7H8%Q?7QC?%O?8?%D7C:938:CP%L7H;9%:;%3%67;=836=%
I39?%7;%5H<S%/JR%/dUdS%&;%A3P%/JR%/d//R%=>8??%7E%=>?I%I39?%
3%67;=836=%O:=>%=>?%68?9:=78%<:F:;<%=>?%=>8??%9?L=78D%9:EE?8?;=%
1UU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JdJ
=?8ID% 3;9% 67;9:=:7;D% E78% =>?% Q3PI?;=% 7E% =>?% 7LC:<3=:7;S% .3:9%
;?O%67;=836=%8?3E!%8I?9%=>?%C:3L:C:=P%7E%=>?%9?L=78%;7=%Q8?D?;=S%
c>?;%=>?%3LD?;=%9?L=78R%h8?<78:7%BHC7R%O3D%3D^?9%=7%Q3PR%>?%
Q8?D?;=?9%=>?%9?E?;D?%7E%;7F3=:7;%=7%=>?%?EE?6=%=>3=%=>?%D?67;9%
67;=836=%:D%:;67IQ3=:LC?%O:=>%=>?%!%8D=R%3;9%=>3=R%=>?8?E78?R%>?%
D>7HC9%;7=%L?%I39?%=7%Q3PS%R44"$G%"D%h8?<78:7%BHC7%6788?6=f
%
%
`EOIG%-7R%h8?<78:7%BHC7%:D%O87;<S%)38%E87I%Q87F:9:;<%=>3=%
=>?%7LC:<3=:7;%7E%2'"#%O3D%L?:;<%DHLD=:=H=?9%LP%=>?%7LC:<3=:7;%
7E%=>8??R%=>?%;?O%67;=836=%83=:!%?9%78%8?3E!%8I?9%=>?%7LC:<3=:7;%
7E%=>?%3LD?;=%9?L=78R%3;9%=>?8?E78?%=>?%3LD?;=%9?L=78R%h8?<78:7%
BHC7R%IHD=%Q3PS%D,*)%+/$%D"!#$0$%['"#+G
%
%
`c:=>%8?DQ?6=%=7%=>?%=>:89R%=>?8?%63;%3CD7%L?%;7%97HL=%=>3=%
=>?%67;=836=%7E%A3P%/JR%/d//R%97?D%;7=%67;D=:=H=?%3%;7F3=:7;%7E%
=>?%E78I?8%7;?%7E%5H<S%/JR%/dUdR%O:=>%8?DQ?6=%=7%=>?%7=>?8%9?L=78D%
O>7%?Z?6H=?%=>:D%67;=836=R%78%I78?%67;68?=?CPR%O:=>%8?DQ?6=%=7%=>?%
9?E?;93;=%h8?<78:7%BHC7G%H*#4+R%L?63HD?%:;%789?8%=>3=%3;%7LC:<3V
=:7;%I3P%L?%?Z=:;<H:D>?9%LP%3;7=>?8%O>:6>%DHLD=:=H=?D%:=R%:=%:D%
;?6?DD38P%=>3=%:=%D>7HC9%L?%D7%?ZQ8?DDCP%9?6C38?9%78%=>3=%=>?%7C9%
3;9%=>?%;?O%L?%:;67IQ3=:LC?%:;%3CC%Q7:;=DR__%3;9%=>?%:;D=8HI?;=%7E%
A3P%/JR%/d//R%E38%E87I%?ZQ8?DDCP%9?6C38:;<%=>3=%=>?%7LC:<3=:7;%7E%
=>?%=>8??%O>7%?Z?6H=?9%:=%4"64+*+"+$4%+/$%2'#0$#%D:<;?9%LP%h8?<78:7%
BHC7%3;9%=>?%7=>?8%9?L=78DR%?ZQ8?DDCP%3;9%6C?38CP%D=3=?9%=>3=%=>?%
7LC:<3=:7;%7E%h8?<78:7%BHC7%=7%Q3P%=>?%=O7%>H;98?9%3;9%!%E=PV=>8??%
=>7HD3;9%3;9%799%Q?D7D%DH?9%E78%?Z:D=DR%D=:QHC3=:;<%=>3=%=>?%DH:=%
IHD=%67;=:;H?%:=D%67H8D?R%3;9%:E%;?6?DD38PR%=>?D?%=>8??%Q38=:?D%O>7%
?Z?6H=?9%=>?%67;=836=%7;%A3P%/JR%/d//R%O7HC9%677Q?83=?%:;%789?8%
=>3=%=>?%36=:7;%3<3:;D=%h8?<78:7%BHC7%I:<>=%Q87DQ?8%2]=>%Q7:;=%
:;%=>?%D=3=?I?;=%7E%E36=D4R%O:=>%7=>?8%H;9?8=3^:;<D%67;6?8;:;<%
=>?%?Z?6H=:7;%7E%=>?%WH9<I?;=%O>:6>%I:<>=%L?%8?;9?8?9%3<3:;D=%
h8?<78:7%BHC7%:;%=>:D%D3I?%DH:=S%`"=%:D%3CO3PD%;?6?DD38P%=7%D=3=?%
=>3=%:=%:D%=>?%:;=?;=:7;%7E%=>?%67;=836=:;<%Q38=:?D%=7%?Z=:;<H:D>%=>?%
E78I?8%7LC:<3=:7;%LP%=>?%;?O%7;?S%7Y")J0$(+%*(%&,44,+*'(=%Y"-9%<=%
:>U>?S%*>?8?%?Z:D=D%;7%:;67IQ3=:L:C:=P%L?=O??;%=>?%7C9%3;9%=>?%
;?O%7LC:<3=:7;%3D%O:CC%L?%9?I7;D=83=?9%:;%=>?%8?D7CH=:7;%7E%=>?%
C3D=%Q7:;=R%3;9%E78%=>?%Q8?D?;=%O?%O:CC%I?8?CP%8?:=?83=?%=>?%C?<3C%
976=8:;?%=>3=%3;%7LC:<3=:7;%=7%Q3P%3%DHI%7E%I7;?P%:D%;7=%;7F3=?9%
:;%3%;?O%:;D=8HI?;=%O>?8?:;%=>?%7C9%:D%83=:!%?9R%LP%6>3;<:;<%7;CP%
=>?%=?8I%7E%Q3PI?;=%3;9%399:;<%7=>?8%7LC:<3=:7;D%;7=%:;67IQ3=V
:LC?%O:=>%=>?%7C9%7;?S__%7Y")J0$(+4%*(%&,44,+*'(%'2%Y"(9%Q<=%:>U@%
,()%'2%Y"-9%<=%:>U>?9
1U/
%
58=S%/JdJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
&
H0)8"0&12&K04Q
:;CD=<P@&b0-2&=@&CD<F
&
%
H8[WDG%.7C?939%-?8P%O3D%<:F?;%LP%)?9?8:3%A3;=:CC387%=O7%
9:3I7;9%8:;<D%=7%L?%D7C9%LP%>?8S%"E%DH66?DDEHCR%-?8P%O3D%DHQQ7D?9%
=7%8?6?:F?%3%67II:DD:7;S%.>?%E3:C?9%=7%8?=H8;%=>?%8:;<D%78%=>?:8%
63D>%F3CH?R%D7%=>?%7O;?8%DH?9%>?8%E78%?D=3E3S%c>:C?%=>?%63D?%O3D%
Q?;9:;<R%D>?%?Z?6H=?9%3%9??9%7E%67IQ87I:D?R%Q87I:D:;<%=7%Q3P%
E78%=>?%I7;?P%:;%:;D=3CCI?;=DS%5E=?8%I3^:;<%7;?%Q3PI?;=R%D>?%
9:9%;7=%67;=:;H?%Q3P:;<%E78%=>?%L3C3;6?S%.>?%;7O%67;=?;9D%=>3=%
D>?%7H<>=%=7%L?%36XH:==?9%L?63HD?%=>?%366?Q=3;6?%LP%=>?%7O;?8%
7E%=>?%Q38=:3C%Q3PI?;=%-&#5*('%=>?%78:<:;3C%8?C3=:7;%L?=O??;%
=>?%Q38=:?DS
%
%
`EOIG% .>?% :D% D=:CC% <H:C=P% 7E% ?D=3E3R% !%#4+-5=% L?63HD?% =>?%
?Z36=:7;% 7E% 68:I:;3C% 8?DQ7;D:L:C:=P% :D% D7I?=>:;<% =>3=% 63;% L?%
8?;7H;6?9% 7;CP% LP% =>?% .=3=?R% ;7=% LP% =>?% 7EE?;9?9% Q38=Pe% 3;9%
4$&'()-5R%L?63HD?%=>?8?%O3D%('%*(+$(+%=7%?Z=:;<H:D>%=>?%78:<:;3C%
8?C3=:7;D>:QS%*>?%;7F3=:7;%=>?78P%I3P%Q?8>3QD%3QQCP%,@"&@%
=7%=>?%!%C:;<%7E%=>?%68:I:;3C%:;E78I3=:7;%:;%67H8=%L?63HD?%HQ%=7%
=>3=%=:I?R%=>?%78:<:;3C%=8HD=%8?C3=:7;%I3P%L?%67;F?8=?9%LP%=>?%
Q38=:?D%:;=7%3;%789:;38P%68?9:=78V9?L=78%D:=H3=:7;R%=>?8?LP%QC36V
:;<%=>?%F:6=:I%*(%$4+'!!$-%D>7HC9%>?%:;D:D=%7;%=>?%78:<:;3C%=8HD=S%
bH=%5)*(@%=>?%!%C:;<%7E%=>?%63D?%:;%67H8=R%=>?%7EE?;9?9%Q38=P%
I3P%;7%C7;<?8%9:F?D=%=>?%Q87D?6H=:7;%7E%:=D%Q7O?8%=7%?Z36=%=>?%
68:I:;3C%C:3L:C:=P%3D%9:D=:;<H:D>?9%E87I%=>?%6:F:CS%*>?%68:I?%L?:;<%
3;%7EE?;D?%3<3:;D=%=>?%.=3=?R%7;CP%=>?%C3==?8%I3P%8?;7H;6?%=>?%
68:I:;3C% 67;D?XH?;6?DS% *>?% 366?Q=3;6?% 7E% Q38=:3C% D3=:DE36=:7;%
63;;7=%:;9??9%?EE?6=%=>?%;HCC:!%63=:7;%7E%3%68:I:;3C%C:3L:C:=P%=>3=%
:D%3C8?39P%EHCCP%I3=H8?%3;9%:;%=>?%Q876?DD%7E%WH9<I?;=S%7_9D9%19%
T'(+,($4=%<%K/*-9%;QUh%86$+'%19%K$'!-$=%>U%K/*-9%B<:%,()%[,0"4%
19%['"#+%'2%8!!$,-4=%@<%S9N9%V'9%P<><?9
&
&
!#4")$&N2&O)*a#"0$&12&J9").%)&G044#*)
:;?=PDC@&G08(2&?B@&CD<E
%
%
H8[WDG%bP%F:8=H?%7E%3;%3<8??I?;=%O>:6>%O3D%7;%=>?%DH8V
E36?%7;?%7E%!S&S'S%2!3D>%7;%'?C:F?8P4R%LH=%O>:6>%O3D%8?3CCP%3;%
3<?;6P%=7%D?CCR%!38C7D%bS%h7;T3C?D%9?C:F?8?9%=7%7;?%$:L8393%.S%
5D:D% 6?8=3:;% "%7O?8D% O78=>% 3QQ87Z:I3=?CP% ,/URUUUS% c>?;% =>?%
O7I3;%=77^%9?C:F?8P%7E%=>?%"%7O?8DR%D>?%Q3:9%,JRUUU%63D>%3;9%
:DDH?9%3%6>?6^%E78%,0RUUUS%*>?%;?Z=%93PR%D>?%8?XH?D=?9%h7;T3C?D%
1UJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JdJ
;7=%=7%9?Q7D:=%=>?%6>?6^%E78%D>?%9:9%;7=%>3F?%DHE!%6:?;=%EH;9D%:;%
=>?%L3;^%3D%D>?%>39%;7=%P?=%L??;%3LC?%=7%9:DQ7D?%7E%=>?%"%7O?8DS%
h7;T3C?D%3<8??9%LP%;7=%9?Q7D:=:;<%=>?%6>?6^S%-?38CP%3%I7;=>%
C3=?8% D>?% I39?% 3% Q38=:3C% Q3PI?;=% 7E% ,1R1UU% 7;% =>?% L3C3;6?S%
@?<389:;<%=>?%8?I3:;:;<%9?L=R%D>?%7EE?8?9%=7%8?=H8;%=>?%H;D7C9%
"%7O?8D%6788?DQ7;9:;<%=7%=>?%3I7H;=%7E%=>?%9?!%6:?;6PS%h7;T3C?D%
=>?;%DH?9%>?8%E78%$4+,2,9%R44"$G%"D%D>?%<H:C=P%7E%?D=3E3f
%
%
`EOIG%.>?%:D%;7=%<H:C=P%7E%?D=3E3R%:;%F:?O%7E%=>?%E7CC7O:;<%
8?3D7;DG
234% *>?%3<8??I?;=R%3C=>7H<>%3QQ38?;=CP%7;?%7E%!S&S'SR%O3D%
36=H3CCP% 3;% 3<?;6P% =7% D?CCe% D>?% 67HC9% 8?=H8;% =>?% H;D7C9%
<779D%:;D=?39%7E%=>?%Q8:6?%=>?8?E78S%+?8?R%D>?%:D%O:CC:;<%=7%
8?=H8;e%3;9%?F?;%:E%D>?%97?D%;7=R%=>?8?%O7HC9%7;CP%L?%3%&*1*-%
7LC:<3=:7;R%('+%3%68:I:;3C%7EE?;D?S
2L4% (F?;%<83;=:;<%=>3=%3%=8HD=%8?C3=:7;%>39%L??;%68?3=?9%L?V
63HD?%7E%=>?%!S&S'S%3;9%=>?%:DDH3;6?%7E%=>?%6>?6^R%D=:CC%=>?8?%
O7HC9%L?%('%-*,6*-*+5%2'#%,%&#*0$%L?63HD?%=>?%Q38=:?DR%3%D>78=%
=:I?%3E=?8%=>?%9?C:F?8P%7E%=>?%6>?6^R%6>3;<?9%=>?%78:<:;3C%
=8HD=%8?C3=:7;%:;=7%3;%789:;38P%68?9:=78V9?L=78%D:=H3=:7;S%
+?;6?R%=>?%('1,+*'(%7E%=>?%67;=836=%=77^%QC36?%-'(J%6$2'#$%
=>?%!%C:;<%7E%=>?%68:I:;3C%67IQC3:;=S
&
&
&&&&:#&!#58#*#&b))6&H4)69'($@&3*'2&12&H!3N@&0(&#"2
&&&&O/&F<F>=@&A9*2&B>@&CDE<
%
%
c>?8?%=>?%I78=<3<??VL3;^%3<8??9%=7%<H383;=??%=>?%
I78=<3<78_D%E78?:<;%C73;%DHLW?6=%=7%=>?%67;9:=:7;%=>3=%=>?%
C3==?8%D>7HC9%9?Q7D:=%O:=>%=>?%E78I?8%=>?%Q876??9D%7E%=>?%
C73;%O>:6>%D>7HC9%L?%I39?%3F3:C3LC?%E78%Q3PI?;=%=7%=>?%
I78=<3<78_D%7LC:<3=:7;%=7%3%C763C%!%;3;6:3C%:;D=:=H=:7;%3;9%
=7%D?8F?%3D%O78^:;<%63Q:=3CR%=>?%I78=<3<??VL3;^%9:9%;7=%
DHLD=:=H=?%=>?%I78=<3<78%3D%9?L=78%=7%=>?%!%;3;6:3C%:;D=:=HV
=:7;S
%
%
*>?%I78=<3<??VL3;^_D%<H383;=??%>3D%=7%L?%D?6H8?9%
LP%=>?%!%8D=%I78=<3<?%7;%=>?%3DD?=D%=>?;%I78=<3<?9%=7%=>?%
D3:9%L3;^%3;9%=>?%3DD?=D%7EE?8?9%3D%399:=:7;3C%D?6H8:=:?DR%
O>:6>%:;6CH9?9%=>?%Q386?CD%7E%C3;9%I78=<3<?9%=7%=>?%!%;3;V
1UK
%
58=S%/JdJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
6:3C%:;D=:=H=:7;S%+?;6?R%=>?%I78=<3<??VL3;^%8?XH:8?D%=>?%
!%;3;6:3C%:;D=:=H=:7;%=7%C?;9%=>?%=83;DE?8%6?8=:!%63=?D%7E%=:=C?%
67F?8:;<%=>?%Q386?CD%7E%C3;9%I78=<3<?9%LP%=>?%I78=<3<78%
=7%=>?%!%;3;6:3C%:;D=:=H=:7;%E78%=>?%I78=<3<??VL3;^%=7%L?%
3LC?%=7%8?<:D=?8%:=D%I78=<3<?%=>?8?:;S
&
&
&&&&N%$#Q#&:#*6&M4#*$8)4(#(%)*&!)2@&3*'2&12&G#*'S0a
&&&&O/&PF<?B@&79.2&BC@&CDEP
%
%
H8[WDG%8=%=>?%8?6?:F?8%7E%b".*@5-!&R%3;9%D%?;=?8?9%
:;=7%3%D>:QQ:;<%3<?;6P%67;=836=%O>?8?LP%D%O3D%67;D=:=H=?9%
3D%D>:QQ:;<%3<?;=%3;9%O3D%=7%8?6?:F?%/Uk%67II:DD:7;%7;%
3CC%E8?:<>=%3;9%Q3DD?;<?8%8?F?;H?D%67I:;<%E87I%bH=H3;%
!:=P%3;9%1k%E78%3CC%E8?:<>=%<7:;<%=7%bH=H3;S%*>?8?3E=?8R%3%
I?I783;9HI%7E%3<8??I?;=%O3D%?;=?8?9%:;=7%O>?8?LP%=>?%
83=?% 7E% 67II:DD:7;% E78% E8?:<>=% 3;9% Q3DD3<?% O3D% 8?9H6?9%
E87I%/Uk%=7%]V/oJk%3;9%=>?%=?8I%7E%=>?%67;=836=%8?9H6?9%
E87I%1%P?38D%=7%3%=?8I%7E%7;?%P?38%8?;?O3LC?%P?38CP%HQ7;%
IH=H3C%67;D?;=S
%
%
$3=?8R%b".*@5-!&%67;=36=?9%=>?%D>:QQ?8D%39F:D:;<%
=>?I%=7%=83;D36=%=>?:8%LHD:;?DD%9:8?6=CP%O:=>%:=D%;?O%L83;6>%
7E!%6?S%D%DH?9%b".*@5-!&%E78%DQ?6:!%6%Q?8E78I3;6?S%b".V
*@5-!&%3;DO?8?9%=>3=%=>?%O78^:;<%3<8??I?;=D%?Z?6H=?9%
LP%D%3;9%b".*@5-!&%;7F3=?9%=>?%3<?;6P%67;=836=S
%
%
`EOIG% *>?% I?I783;9HI% 7E% 3<8??I?;=% O3D% ;7=%
I?3;=% =7% ;7F3=?% =>?% 67;=836=S% *>?% :;=?;=% 7E% =>?% Q38=:?D%
O3D%=7%DHDQ?;9%D7I?%7E%=>?%Q87F:D:7;D%7E%=>?%67;=836=D%E78%
3%Q?8:79%7E%7;?%2/4%P?38R%9H8:;<%O>:6>%=>?%Q87F:D:7;D%7E%=>?%
5<8??I?;=%O:CC%Q8?F3:CS%*>HDR%=>?%3<8??I?;=%=>3=G%`"=%:D%
:;%=>:D%DQ:8:=%7E%677Q?83=:7;%O:=>%8%=7%?;3LC?%>:I%=7%Q3P%
>H<?%7LC:<3=:7;D%7E%=>?%67IQ3;P%=>3=%3<?;=%D%>3D%366?9?9%
=7%=>?%8?XH?D=%7E%b".*@5-!&%=7%366?Q=%=>?%8?9H6=:7;%7E%
>:D%67II:DD:7;DSa
%
%
"=%O7HC9%;7=%L?%?XH:=3LC?%E78%D%=7%D3P%=>3=%=>?%67;V
=836=D% O?8?% ?Z=:;<H:D>?9% 3;9% DHLD=:=H=?9% LP% =>?% 5<8??V
I?;=S% "=% O7HC9% QH;:D>% D% E78% 67;6?DD:7;D% >?% ?Z=?;9?9% =7%
b".*@5-!&S
%
%
*>?% 6>3;<?D% O?8?% ;7=% 8?3CCP% DHLD=3;=:3C% =7% L8:;<%
3L7H=%;7F3=:7;S%*>?%6>3;<?D%L?=O??;%=>?%67;=836=%3;9%=>?%
3<8??I?;=%9:9%;7=%<7%:;=7%=>?%?DD?;6?%7E%=>?%63HD?%78%7LW?6=%
7E% =>?% 3<8??I?;=S% i;9?8% =>?% 3<8??I?;=R% D% 8?I3:;D% =>?%
1UM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JdK
3<?;=%7E%b".*@5-!&S%*>?8?%:D%;7%6C?38%:;67IQ3=:L:C:=PS%
*>?% 67;=836=% 3;9% =>?% 3<8??I?;=% 63;% L?% 8?67;6:C?9S% *>?%
Q87F:D:7;D%7E%=>?%3<8??I?;=%O>:6>%O?8?%I78?%7E%6>3;<?D%
7;%>7O%=7%?;E786?%=>?%3<?;6P%Q8?F3:C?9%9H8:;<%=>?%Q?8:79%
Q87F:9?9%:;%=>?IR%LH=%3E=?8%=>?:8%?ZQ:83=:7;R%=>?%67;9:=:7;D%
H;9?8%=>?%67;=836=D%O?8?%:IQC?I?;=?9%3<3:;S
/0Q0$&12&!7
P<&G!7L&?D
XCDD<Y
%
%
*>?%I?8?%6:86HID=3;6?%7E%=>?%68?9:=78%8?6?:F:;<%Q3PV
I?;=D%E87I%3%=>:89%Q38=P%O>7%36XH:?D6?9%=7%3DDHI?%=>?%
7LC:<3=:7;%7E%=>?%9?L=78%O>?;%=>?8?%:D%6C?38CP%;7%3<8??I?;=%
=7%8?C?3D?%=>?%9?L=78%E87I%=>?%8?DQ7;D:L:C:=P%97?D%;7=%67;V
D=:=H=?%;7F3=:7;S
%
%
5=%I7D=R%:=%7;CP%68?3=?D%3%WH8:9:63C%8?C3=:7;%7E%67V9?L=V
78D>:Q%78%DH8?=PD>:Q%7;%=>?%Q38=%7E%=>?%=>:89%Q38=P%=7%=>?%
67;=836=H3C%7LC:<3=:7;%7E%=>?%9?L=78R%3;9%=>?%68?9:=78%63;%
D=:CC%?;E786?%=>?%7LC:<3=:7;%3<3:;D=%=>?%9?L=78S
74(2&C?DB2&K)1#(%)*&RS%'S&')*$%$($&%*&$9-$(%(9(%*.&#&*0R&
&
60-()4& %*& (S0& 8"#'0& )+& (S0& )4%.%*#"& )*0@& 5#Q& -0& 5#60& 010*&
R%(S)9(&(S0&T*)R"06.0&)4&#.#%*$(&(S0&R%""&)+&(S0&"#((04@&-9(&*)(&
R%(S)9(&(S0&')*$0*(&)+&(S0&'406%()42&H#Q50*(&-Q&(S0&*0R&60-()4&
.%10$&S%5&(S0&4%.S($&50*(%)*06&%*&74(%'"0$&C?B<&#*6&C?BP2
!,VVJKMW
XCY& H04$)*#"&)4&G9-U0'(%10&K)1#(%)*
%
%
*>?8?%38?%=O7%^:;9D%7E%!$#4'(,-%78%4"63$&+*1$%;7F3=:7;G
234% 6>3;<?%7E%=>?%9?L=78%2Q3DD:F?4
2L4% 6>3;<?%7E%=>?%68?9:=78%236=:F?4
&
&
L0&!)4(0$&12&e0*(94#*a#
PD&G!/7&P>D
%
%
5%DHLD=:=H=:7;%7E%9?L=78%O:=>7H=%=>?%67;D?;=%7E%=>?%
68?9:=78%:D%L:;9:;<%HQ7;%=>?%Q38=:?D%=7%=>?%DHLD=:=H=:7;%LH=%
;7=%7;%=>?%68?9:=78S
1U1
%
58=S%/JdK
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
X?Y& G9-$(%(9(%)*&)+&L0-()4
%
%
58=S%/JdK%DQ?3^D%7E%!,44*1$%4"63$&+*1$%('1,+*'(%2DHLD=:=HV
=:7;%7E%=>?%9?L=784R%O>:6>%I3P%L?%:;%=>?%2'#0%'2G
234% $F!#'0*4*'(%2O>?8?%=>?%:;:=:3=:F?%67I?D%E87I%3%=>:89%Q?8V
D7;4S%78#+9%:Q>@=%[*1*-%[')$?9
2L4% )$-$J,&*'(%2O>?8?%=>?%:;:=:3=:F?%67I?D%E87I%=>?%9?L=78R%E78%
:=%:D%>?%O>7%)$-$J,+$4%3;7=>?8%=7%Q3P%=>?%9?L=R%3;9%=>HDR%>?%
?Z6HD?D%>:ID?CES%+?8?%=>?%=>8??%Q38=:?D%67;6?8;?9%Y%=>?%
7C9%9?L=78R%=>?%;?O%9?L=78R%3;9%=>?%68?9:=78%Y%IHD=%3<8??4S%
78#+9%:Q>B=%*)9?9
XBY& J`84)5%$%)*
234% +?8?%=>?%:;:=:3=:F?%67I?D%E87I%3%+/*#)%!$#4'(9
2L4% "=% :D% ?DD?;=:3C% =>3=% =>?% 7C9% 9?L=78% L?% @($(5.('% E87I%
>:D%7LC:<3=:7;R%7=>?8O:D?%=>?8?%O:CC%L?%('%$F!#'0*4*'(=%('%
('1,+*'(9
%
EF,0!-$G
%
%
I%7O?D%[%,/RUUURUUUS%HR%3%E8:?;9%7E%IR%3QQ8736>?D%[%
3;9%=?CCD%>:IG%`"%O:CC%Q3P%P7H%O>3=%I%7O?D%P7HSa%[%3<8??DS%
"D%=>?8?%$F!#'0*4*'(%>?8?f
%
%
8VD9G%i;9?8%=>?%E36=D%<:F?;R%=>?8?%:D%;7%$F!#'0*4*'(%
L?63HD?%=>?P%9:9%('+%3<8??%=>3=%I%O7HC9%L?%8?C?3D?9%E87I%
>:D%7LC:<3=:7;S%"E%H%=>?8?E78?%97?D%;7=%Q3P%[=%[%O:CC%D=:CC%L?%
3CC7O?9%=7%67CC?6=%E87I%IS%"=%:D%?F:9?;=%>?8?%=>3=%('%;7F3V
=:7;%?Z:D=D%L?63HD?%:=%I3P%L?%=>3=%[%H;9?8D=779%H%=7%L?%
36=:;<%I?8?CP%3D%=>?%3<?;=%7E%I=%3C=>7H<>%H%I3P%;7=%>3F?%
97;?%D7%3D%DH6>%3<?;=S%7D$$%<%T,(#$4,%@PB?S%*>HDR%:=%>3D%
L??;%8HC?9%=>3=%:E%3%68?9:=78%366?Q=D%Q38=:3C%Q3PI?;=D%E87I%
3%=>:89%Q?8D7;%O>7%>3D%9?6:9?9%=7%3DDHI?%=>?%7LC:<3=:7;R%
bi*%=>?8?%:D%;7%3<8??I?;=%=>3=%=>?%!%8D=%9?L=78%D>3CC%L?%
8?C?3D?9% E87I% 8?DQ7;D:L:C:=PR% ('% ('1,+*'(% >3D% P?=% =3^?;%
QC36?R% 3;9% =>?% 68?9:=78% 63;% D=:CC% ?;E786?% =>?% 7LC:<3=:7;%
3<3:;D=%=>?%78:<:;3C%9?L=78S%7D$$%T,J),-$(,%E4+,+$4=%R(&9%
19%X')#*J"$k=%OA:<@::=%I$&9%:C=%:>;;?9
1UN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JdK
%
EF,0!-$%'2%W#"$%EF!#'0*4*'(G
%
%
I%7O?D%[%,/RUUURUUU9%H=%E8:?;9%7E%I=%3QQ8736>?D%[%
3;9%=?CCD%>:IG%`"%O:CC%Q3P%P7H%O>3=%I%7O?D%P7HS%)87I%;7O%
7;R%67;D:9?8%I?%P7H8%9?L=78R%;7=%IS%I%:D%=7%L?%?Z6HD?9S%'7%
P7H%3<8??fa%[%,J#$$4S%"D%=>?8?%$F!#'0*4*'(%>?8?f
%
%
8VD9G%B?DR%3;9%?F?;%:E%H%97?D%('+%Q3P%[R%I%63;;7=%
L?%>?C9%C:3LC?%3;PI78?%L?63HD?%>:D%7LC:<3=:7;%>3D%3C8?39P%
L??;%?Z=:;<H:D>?9S%28#+9%:Q>@%Q87F:9?D%=>3=G%`"E%=>?%DHLV
D=:=H=:7;%:D%O:=>7H=%=>?%^;7OC?9<?%78%3<3:;D=%=>?%O:CC%7E%
=>?%9?L=78R%=>?%;?O%9?L=78_D%*(4'-1$(&5%78%('(A2"-!%--0$(+%
7E%=>?%7LC:<3=:7;%D>3CC%;7=%<:F?%8:D?%=7%3;P%C:3L:C:=P%7;%=>?%
Q38=%7E%=>?%78:<:;3C%9?L=78Sa4
XFY& /0_9%$%(0$&+)4&J`84)5%$%)*
234% *>?%:;:=:3=:F?%IHD=%67I?%E87I%3%=>:89%Q?8D7;%2O>7%O:CC%L?%
=>?%;?O%9?L=784S
2L4% *>?%;?O%)$6+'#%3;9%=>?%&#$)*+'#%IHD=%!&-.(-*S%7N,#&*,%
19%b/"%f$L%[/*'(J=%P<%S9N9%V'9%>Q;?9
264%
*>?%7C9%9?L=78%IHD=%L?%$F&"4$)%78%#$-$,4$)%E87I%>:D%7LC:<3V
=:7;S
%
%
cVSWEG%*>?%7C9%9?L=78_D%&'(4$(+%78%L('.-$)J$%:D%('+%
#$a"*#$)9%78#+9%:Q>P=%[*1*-%[')$?9e
%
%
cVSWEG%*>?%I?8?%O8:==?;%D=3=?I?;=%7E%3%O:97O%=>3=%
D>?%>7Q?9%=7%Q3P%Q38=%7E%>?8%>HDL3;9_D%L3;^%9?L=%97?D%('+%
8?DHC=%:;%$F!#'0*4*'(9%7N,#&*,%19%I$%T,(k,('=%P>%K/*-9%
BCC?9e
&
&
O%"&e%""#*901#&12&b%")50*)&O%4.06
:;C=C=F@&L0'2&?D@&CD<>
&
%
H8[WDG%h:8<?9%7O?9%#:CC3;H?F3%3%6?8=3:;%DHI%7E%I7;?PS%
$?<3DQ:%O87=?%#:CC3;H?F3%3%C?==?8%D=3=:;<%=>3=%>?%2$?<3DQ:4%O7HC9%
L?%`=>?%7;?%=7%=3^?%638?a%7E%h:8<?9_D%9?L=%`3D%D77;%3Da%h:8<?9%
>3D%I39?%3%D>:QI?;=%7E%C7<D%=7%g3Q3;S%h:8<?9%;?F?8%I39?%DH6>%
D>:QI?;=S%$?<3DQ:%9:9%-&*%Q3P%#:CC3;H?F3S%R44"$G%"D%$?<3DQ:%
C:3LC?%=7%#:CC3;H?F3f
%
%
`EOIG% -7S% ):8D=R% L?63HD?% $?<3DQ:% 9:9% -&*% 3DDHI?%
h:8<?9_D%9?L=S%+?%I?8?CP%3DDH8?9%=>3=%=>?%9?L=%O7HC9%L?%=3^?;%
1U]
%
58=S%/JdK
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
638?9%7ES%.?67;9CPR%?F?;%<83;=:;<%=>3=%=>?8?%O3D%3;%3DDHIQ=:7;%
7E%:;9?L=?9;?DDR%D=:CC%=>?%67;9:=:7;%Y%=>?%D>:QI?;=%Y%>3D%-&*%
P?=%L??;%EHC!%CC?9S%*>HDR%$?<3DQ:%63;;7=%L?%>?C9%C:3LC?S
X=Y& L0"0.#'%)*
234% *>:D% :D% 9?!%;?9% 3D% 3% I?=>79% 7E% ;7F3=:7;% 63HD?9% LP% =>?%
8?QC36?I?;=%7E%=>?%7C9%9?L=78%LP%3%;?O%9?L=78R%O>7%2=>?%
7C9% 9?L=784% >3D% !#'!'4$)% >:I% =7% =>?% 68?9:=78R% 3;9% O>:6>%
8?QC36?I?;=% >3D% L??;% 3<8??9% =7% LP% D3:9% 68?9:=78% 3;9% LP%
D3:9%;?O%9?L=78S
2L4% -7=?%=>3=%>?8?%=>?%)$-$J,&*'(%78%:;:=:3=:F?%67I?D%E87I%=>?%
7C9%9?L=78%/*04$-29
264%
5D% :;% =>?% 63D?% 7E% $F!#'0*4*'(R% =>?% 7C9% 9?L=78% IHD=% L?%
#$-$,4$)%E87I%=>?%7LC:<3=:7;e%7=>?8O:D?R%=>?8?%:D%('%1,-*)%
)$-$J,&*'(9
%
EF,0!-$G
%
%
"E%3%9?L=78%Q>7;?D%>:D%68?9:=78%3;9%=?CCD%>:I%=>3=%H=%3%
E8:?;9R%O:CC%Q3P%=>?%9?L=R%3;9%=>?%68?9:=78%3<8??DR%=>:D%97?D%
('+%;?6?DD38:CP%I?3;%=>3=%3%)$-$J,&*'(%>3D%L??;%?EE?6=?9R%
E78% 3E=?8% 3CCR% =>?% E8:?;9% I3P% L?% 36=:;<% 7;CP% 3D% 3;% 3<?;=R%
I?DD?;<?8R%78%?IQC7P??%7E%=>?%9?L=78S%iQ7;%=>?%7=>?8%>3;9R%
:E%=>?%9?L=78%=?CCD%=>?%68?9:=78R%`AP%E8:?;9%H%O:CC%Q3P%IP%
9?L=S%"R%=>?8?E78?R%O:D>%=7%L?%#$-$,4$)%E87I%IP%7LC:<3=:7;Ra%
3;9%L7=>%=>?%E8:?;9%3;9%=>?%68?9:=78%3<8??R%=>:D%O7HC9%L?%
3%6788?6=%$F,0!-$%7E%)$-$J,&*'(S%";%DH6>%3%63D?R%:E%H%E3:CD%=7%
Q3PR%O:CC%=>?%7C9%9?L=78%L?%?Z6HD?9f
%
%
8VD9G%h?;?83CCP%P?DR%:;%F:?O%7E%=>?%('1,+*'(=%?Z6?Q=%:E%
H\4%E3:CH8?%=7%Q3P%O3D%9H?%=7%*(4'-1$(&5=%3;9%DH6>%:;D7CF?;6P%
O3D%3C8?39P%?Z:D=:;<%3;9%7E%QHLC:6%^;7OC?9<?%&@%,-#$,)5%
$F*4+*(J%3;9%L('.(%=7%=>?%)$6+'#%O>?;%>?%9?C?<3=?9%>:D%
9?L=S%78#+9%:Q>B?S%*>?%8?3D7;%E78%=>?%?Z6?Q=:7;%:D%?F:9?;=G%
>:D%7LF:7HD%L39%E3:=>S%7D$$%<%T,(#$4,%@PC?9
&
&
!2K2&\)6.0$&12&V#(%#$&!2&/0Q
:;C?==F@&b0-2&?E@&CD<C
&
%
H8[WDG%@?P%L7887O?9%E87I%+79<?D%=>?%DHI%7E%,KRUUUS%
*>8??%93PD%3E=?8%=>?%C73;%O3D%67;=836=?9R%@?P%LP%I?3;D%
7E%3%C?==?8R%3H=>78:T?9%=>?%,>:CS%-3=S%b3;^%=7%!,5%>:D%:;V
1U0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JdK
9?L=?9;?DD%=7%+79<?D%7H=%7E%O>3=?F?8%687Q%C73;%I:<>=%L?%
<83;=?9%=7%>:I%LP%D3:9%L3;^S%&;%=>?%D3I?%93=?R%=>?%b3;^%
3<8??9S% bH=% =>?% b3;^% Q3:9% +79<?D% 7;CP% ,JRUUUS% &;% =>?%
93=?%7E%I3=H8:=PR%+79<?D%DH?9%=>?%b3;^%3;9%@?P%E78%=>?%
8?I3:;:;<%,/RUUUS%R44"$G%"D%=>?%b3;^%C:3LC?%=7%@?Pf
%
%
`EOIG%-7R%E78%=>?%b3;^%9:9%-&*%3DDHI?%@?P_D%:;V
9?L=?9;?DDS%*>?%E36=%=>3=%:=%Q3:9%,JRUUU%97?D%;7=%L:;9%=>?%
b3;^%E78%=>?%8?I3:;9?8%7E%,/RUUUR%E78%O>3=%:=%9:9%O3D%=7%
I?8?CP%I3^?%3F3:C3LC?%=7%=>?%68?9:=78%O>3=%:=%67HC9%C?;9%
=7%@?PS
X<Y& MS0&H#4(%0$&%*&L0"0.#'%)*
234% *>?%)$-$J,(+$%Y%=>?%78:<:;3C%9?L=78
2L4% *>?%)$-$J,+,#*'%]%=>?%68?9:=78
264%
*>?%)$-$J,)'%Y%=>?%;?O%9?L=78
XPY& /0_9%$%(0$&+)4&L0"0.#'%)*
234% *>?%:;:=:3=:F?%67I?D%E87I%=>?%'-)%)$6+'#9
2L4% 5CC%=>?%Q38=:?D%67;6?8;?9%IHD=%67;D?;=%78%3<8??S%7N,#&*,%
19%b/"%f$L%[/*'(J=%;B%K/*-9%@;;%,()%8)*,#+$%19%['"#+%'2%
8!!$,-4=%$+%,-9=%>Q%K/*-9%CB<9?
%
%
cVSWEG%*>?%67;D?;=%7E%=>?%68?9:=78G
/4%
I3P%L?%<:F?;%:;%3;P%E78I%7X*'%N#,()$%S*-%['9%19%['-$A
0,(=%c[8e%P>%S9N9=%!9%><;=%T,#9%Q>=%:>@:?h
J4%
I3P%L?%$F!#$44R%78%I3P%L?%*0!-*$)%2#'0%/*4%,&+4%784*,%
Z,(L*(J%['#!'#,+*'(%19%E-4$#=%B@%K/*-9%>>@%,()%Z,#A
#$++'%5%[*,%19%8-6,%n%D$1*--,=%;Q%K/*-9%B>P?%LH=%;7=%E87I%
>:D%I?8?%366?Q=3;6?%7E%Q3PI?;=%LP%3%=>:89%Q38=PR%E78%
=>?8?%:D%;7%=8H?%=83;DE?8%7E%=>?%9?L=%>?8?%7K,&9%['09%
['9%19%D'++'=%P@%K/*-9%QPC?h
K4%
I3P%L?%6$2'#$%78%,2+$#%=>?%;?O%9?L=78%>3D%<:F?;%>:D%
67;D?;=% 7WD=% Y"(9% :;=% :>U<% ,()% E4+,+$% '2% T'+,% 19%
D$##,=%@C%K/*-9%@;@?h
M4%
I3P%L?%67;9:=:7;3CR%LH=%=>?%67;9:=:7;%>3D%=7%L?%EHCV
!%CC?9e%7=>?8O:D?R%=>?8?%:D%;7%F3C:9%)$-$J,&*'(9%7N'1\+9%
19%Z,"+*4+,=%c[8e%C%S9N9%c@Ce%:<<U?9e
1Ud
%
58=S%/JdM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
XEY& /%.S($&)+&(S0&K0R&L0-()4
&
%
*>?%C3O%D3PD%=>3=%`Q3PI?;=%LP%=>?%;?O%9?L=78%<:F?D%>:I%
=>?%8:<>=D%I?;=:7;?9%:;%58=DS%/JKN%3;9%/JK]a%2;3I?CPR%`L?;?!%6:3C%
8?:ILH8D?I?;=Ra%:E%Q3PI?;=%O3D%I39?%.*+/'"+%+/$%L('.-$)J$%'#%
,J,*(4+%+/$%.*--%'2%+/$%'-)%)$6+'#h%`8?:ILH8D?I?;=%3;9%DHL87<3V
=:7;Ra%:E%:=%O3D%I39?%O:=>%=>?%7C9%9?L=78_D%67;D?;=4S
XDY& K)1#(%)*&!#**)(&N%*6&/0$8)*60*(
%
%
-7=%3%,38=P%=7%=>?%5DD:<;I?;=S
&
&
H9-"%'&J$(#(0$&79(S)4%(Q&12&J"8%6%)&G2&IQ
O/&CFPDBB;BF@&L0'2&C?@&?>>C
%
%
H8[WDG%,?=:=:7;?8%38<H?D%=>3=%:=D%C:3L:C:=P%=7%8?DQ7;9?;=%
>3D%L??;%?Z=:;<H:D>?9%LP%;7F3=:7;%O>?;%:=%3DD:<;?9%3;9%=H8;?9%
7F?8%3CC%:=D%67;=836=?9%O78^D%3=%=>?%+?8:=3<?%,38^%=7%=>?%+?8:=V
3<?%,38^%A3;3<?I?;=%!78QS
%
%
`EOIG%*>:D%63;;7=%L:;9%8?DQ7;9?;=R%O>7%O3D%;7=%3%Q38=P%
=7% =>?% 3DD:<;I?;=S% A78?7F?8R% :=% >3D% ;7=% L??;% D>7O;% =>3=% 8?V
DQ7;9?;=%<3F?%>:D%67;D?;=%=7%=>?%=H8;7F?8S%7D$$%8#+9%:Q>P=%[*1*-%
[')$?9
&
74(2& C?DF2& 3+& (S0& $9-$(%(9(%)*& %$& R%(S)9(& (S0& T*)R"06.0&
)4&#.#%*$(&(S0&R%""&)+&(S0&60-()4@&(S0&*0R&60-()4d$&%*$)"10*'Q&
)4&*)*;+9"!&""50*(&)+&(S0&)-"%.#(%)*&$S#""&*)(&.%10&4%$0&()&#*Q&
"%#-%"%(Q&)*&(S0&8#4(&)+&(S0&)4%.%*#"&60-()42
!,VVJKMW
XCY& J++0'(&)+&3*$)"10*'Q&)4&K)*;b9"!&""50*(&-Q&K0R&L0-()4&
%*&J`84)5%$%)*
234% *>:D%8?E?8D%=7%$0!#'0*4*'(9
2L4% @?3D7;%O>P%=>?%7C9%9?L=78%O:CC%;7=%L?%8?DQ7;D:LC?%E78%=>?%
;?O%9?L=78_D%"-.&$#(-!B%78%-&-V)i$)"$$A(-*G%*>?%
$F!#'0*4*'(%O3D%L87H<>=%3L7H=%O:=>7H=%>:D%:;:=:3=:F?S%7<%
T,(#$4,%@P>?9
1/U
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/Jd1
X?Y& c904Q
%
%
*>?%58=:6C?%D3PD%`:E%=>?%DHLD=:=H=:7;%:D%.*+/'"+%+/$%L('.-A
$)J$%78%,J,*(4+%+/$%.*--%'2%+/$%)$6+'#Sa%-7OR%=>?;R%DHQQ7D?%:=%O3D%
O:=>%=>?%L('.-$)J$%78%&'(4$(+%7E%=>?%7C9%9?L=78R%O:CC%58=S%/JdM%
D=:CC%3QQCPf
%
%
8VD9G
234% $:=?83CCP%67;D=8H?9R%:=%O7HC9%D??I%=>3=%=>?%58=:6C?%O:CC%-&*%
3QQCPe%:;%7=>?8%O789DR%=>?%7C9%9?L=78%O7HC9%L?%C:3LC?S
2L4% bH=%67;D:9?8:;<%=>?%:;=?;=%7E%=>?%C3O%23;9%=7%9:D=:;<H:D>%
$0!#'0*4*'(%E87I%)$-$J,&*'(4R%:=%:D%L?C:?F?9%=>3=%=>?%58=:6C?%
O7HC9%D=:CC%3QQCPR%=>3=%:DR%=>?%7C9%9?L=78%O7HC9%D=:CC%('+%6$%
-*,6-$%E78%=>?%;?O%9?L=78_D%:;D7CF?;6P%78%;7;VEHC!%CCI?;=S
%
%
X$,4'(G
/4%
5E=?8%3CCR%=>?%:;:=:3=:F?%9:9%('+%67I?%E87I%>:IS
J4%
5%67;=838P%67;6CHD:7;%O7HC9%QH=%>:I%:;%3%O78D?%Q7D:V
=:7;%=>3;%:;%)$-$J,&*'(R%O>?8?%C:3L:C:=P%:D%7;CP%E78%:;V
D7CF?;6P%3;9%('+%E78%7=>?8%^:;9D%7E%;7;VEHC!%CCI?;=S
&
74(2&C?D=2&MS0&%*$)"10*'Q&)+&(S0&*0R&60-()4@&RS)&S#$&-00*&
84)8)$06&-Q&(S0&)4%.%*#"&60-()4&#*6&#''08(06&-Q&(S0&'406%()4@&
$S#""&*)(&401%10&(S0&#'(%)*&)+&(S0&"#((04&#.#%*$(&(S0&)4%.%*#"&
)-"%.)4@& 0`'08(& RS0*& $#%6& %*$)"10*'Q& R#$& #"40#6Q& 0`%$(%*.&
#*6&)+&89-"%'&T*)R"06.0@&)4&T*)R*&()&(S0&60-()4@&RS0*&S0&
60"0.#(06&S%$&60-(2
!,VVJKMW
XCY& J++0'(&)+&3*$)"10*'Q&-Q&K0R&L0-()4&%*&L0"0.#'%)*
234% *>:D%8?E?8D%=7%)$-$J,&*'(9
2L4% -7=?%=>3=%=>?%58=:6C?%9?3CD%7;CP%O:=>%:;D7CF?;6PR%3;9%;7=%
O:=>%7=>?8%63HD?D%7E%;7;VEHC!%CCI?;=S%2";%D3:9%7=>?8%63HD?DR%
=>?%7C9%9?L=78%:D%;7=%C:3LC?S4
X?Y& /0_9%$%(0$&()&\)"6&,"6&L0-()4&:%#-"0
&
%
)78%=>?%7C9%9?L=78%=7%L?%C:3LC?%:E%=>?%;?O%9?L=78%:D%:;D7CF?;=R%
:=%:D%8?XH:8?9%=>3=%?:=>?8%7E%=>?%E7CC7O:;<%IHD=%L?%Q8?D?;=G
1//
%
58=S%/Jd1
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
234% *>?% :;D7CF?;6P% O3D% ,-#$,)5% $F*4+*(J% 3;9% 7E% ,ib$"!%
p-&c$('h(%3=%=>?%=:I?%7E%9?C?<3=:7;e
2L4% &@%=>?%:;D7CF?;6P%O3D%,-#$,)5%$F*4+*(J%3;9%p-&c-%*&%
*+(%'(b*&@%3=%=>?%=:I?%7E%9?C?<3=:7;S
%
%
2-7=?%=>3=%:E%=>?%:;D7CF?;6P%766H88?9%7;CP%5)*(@%=>?%
9?C?<3=:7;R%=>?%7C9%9?L=78%:D%;7=%C:3LC?S4
XBY& H4)-"05
&
%
8%7O?D%Z%,/RUUURUUUS%8%Q87Q7D?9%=7%Z%=>3=%[%O:CC%Q3P%8\4%
9?L=R%3;9%=>3=%8%O:CC%L?%8?C?3D?9%E87I%3CC%C:3L:C:=:?DS%Z%3;9%[%
3<8??%=7%=>?%Q87Q7D3CS%$3=?8R%O>?;%Z%=8:?D%=7%67CC?6=%E87I%8=%>?%
!%;9D%'"+%=>3=%[%:D%:;D7CF?;=S%"=%O3D%Q87F?9%=>3=%3=%=>?%=:I?%7E%
9?C?<3=:7;R%[%O3D%,-#$,)5%*(4'-1$(+%LH=%=>:D%O3D%;7=%^;7O;%=7%8S%
-?:=>?8%O3D%=>?%:;D7CF?;6P%7E%QHLC:6%^;7OC?9<?S%-?F?8=>?C?DDR%Z%
D=:CC%DH?D%8%7;%=>?%<87H;9%=>3=%:=%O3D%8%O>7%I39?%=>?%Q87Q7D3CR%
3;9%=>3=%=>?8?E78?%8%8?3CCP%<H383;=??9%[\4%:;D7CF?;6PS%'?6:9?S
%
%
8VD9G%8%:D%-&*%C:3LC?R%E78%=>?%:;D7CF?;6P%O3D%;?:=>?8%7E%
QHLC:6%^;7OC?9<?%;78%^;7O;%=7%8%3=%=>?%=:I?%>?%9?C?<3=?9%>:D%
9?L=S%*>?%C3O%97?D%;7=%8?XH:8?%8%=7%<:F?%3%LC3;^?=%<H383;=PS%
78#+9%:Q>B?9
XFY& ZS0*&74(%'"0&L)0$&K)(&788"Q
%
%
"=%:D%H;9?8D=779%=>3=%58=S%/Jd1%97?D%-&*%3QQCP%:E%=>?8?%
8?3CCP%O3D%-&%(q*"-!*"#(%-&#5*"&-R%DH6>%3DG
234% c>?;%=>?%=>:89%Q?8D7;%O3D%7;CP%3;%3<?;=R%I?DD?;<?8R%78%
?IQC7P??%7E%=>?%9?L=78S
2L4% c>?;%=>?%=>:89%Q?8D7;%36=?9%7;CP%3D%<H383;=78%78%DH8?=PS
264%
c>?;%=>?%;?O%9?L=78%I?8?CP%3<8??9%=7%I3^?%>:ID?CE%4'-*A
),#*-5%-*,6-$%2'#%+/$%'6-*J,+*'(9
294% c>?;%=>?%;?O%9?L=78%I?8?CP%3<8??9%=7%I3^?%>:ID?CE%3'*(+-5%
78%!,#+-5%8?DQ7;D:LC?%E78%=>?%7LC:<3=:7;S%2+?8?%=>?%)$-$J,A
&*'(%:D%I?8?CP%O:=>%#$2$#$(&$%+'%+/$%3'*(+%'#%!#'!'#+*'(,+$%
4/,#$S4%7D$$%<%T,(#$4,%@PBh%84*,+*&%K$+#'-$"0%['9%19%f"%
S.,=%c[989e%@U%S9N9%D"!!9%S&+9%::=%:>@:=%!9%Q>>h%X*'4%19%
Y,&*(+'=%@>%K/*-9%C%,()%N,#&*,%19%b/"%f$L%[/*'(J=%;B%K/*-9%
@;;?9
1/J
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/JdN
&
74(2&C?D<2&ZS0*&(S0&84%*'%8#"&)-"%.#(%)*&%$&0`(%*.9%$S06&%*&
')*$0_90*'0&)+&#&*)1#(%)*@&#''0$$)4Q&)-"%.#(%)*$&5#Q&$9-$%$(&
)*"Q&%*$)+#4&#$&(S0Q&5#Q&-0*0!&(&(S%46&804$)*$&RS)&6%6&*)(&
.%10&(S0%4&')*$0*(2&
!,VVJKMW
XCY& J++0'(&)*&7''0$$)4Q&,-"%.#(%)*
%
X$,4'(%2'#%+/$%8#+*&-$G
%
%
(Z=:;<H:D>I?;=%7E%=>?%Q8:;6:Q3C%7LC:<3=:7;%6388:?D%O:=>%:=%
=>?%?Z=:;<H:D>I?;=%7E%=>?%366?DD78P%7LC:<3=:7;D%2DH6>%3D%QC?9<?DR%
I78=<3<?DR%<H383;=:?D4S%7<%T,(#$4,%@@:?9
%
%
cVSWEG%58=S%/JdN%)'$4%;7=%3QQCP%:;%63D?D%7E%;7F3=:7;%LP%
4"6#'J,+*'(%7E%=>?%68?9:=78S%7D$$%8#+9%:PUP=%[*1*-%[')$?9e
X?Y& V)6%!&'#()4Q&K)1#(%)*
&
%
58=S%/JdN%3QQC:?D%:;%Q38=:6HC38%=7%$F+*(&+*1$%('1,+*'(9%"E%=>?%
;7F3=:7;% :D% I?8?CP% 0')*!%&,+'#5R% 38?% <H383;=78D% 3;9% DH8?=:?D%
8?C?3D?9R%:E%=>?%;7F3=:7;%:D%I39?%c"*+&i*%=>?:8%67;D?;=f
%
8VD9G
234% "E%=>?%I79:!%?9%7LC:<3=:7;%:D%;7O%A&@(%&-(@&i.R%=>?P%
38?%C:3LC?%7;CP%E78%=>?%78:<:;3C%7LC:<3=:7;S%7D$$%8#+9%QUB@=%
[*1*-%[')$?9
2L4% "E% =>?% I79:!%?9% 7LC:<3=:7;% :D% ;7O% $(..% &-(@&i.R% =>?%
<H383;=78D%3;9%DH8?=:?D%38?%D=:CC%8?DQ7;D:LC?S
XBY& G(%89"#(%)*&!)*(4#4Q&()&74(%'"0&C?D<
%
%
A3P%:=%L?%3<8??9%=>3=%9?DQ:=?%=>?%?Z=:;<H:D>I?;=%7E%=>?%
7C9%7LC:<3=:7;R%=>?%366?DD78P%7LC:<3=:7;D%O7HC9%D=:CC%8?I3:;%3D%
366?DD78P%=7%=>?%;?O%7LC:<3=:7;f
%
%
8VD9G% B?DR% Q87F:9?9% =>3=% =>?% 9?L=78D% 7E% D3:9% 366?DD78P%
7LC:<3=:7;D%<:F?%=>?:8%67;D?;=S
XFY& J++0'(&)*&G(%89"#(%)*&H)94&79(49%
&
%
*>?%8HC?%<:F?;%:;%58=S%/JdN%8?E?88:;<%=7%=>?%3H=7I3=:6%?ZV
=:;6=:7;%7E%3CC%=>?%366?DD78P%7LC:<3=:7;D%DQ?3^D%7E%7;?%?Z6?Q=:7;S%
c>3=%:D%=>:Df
1/K
%
58=S%/Jd]
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
8VD9G%566?DD78P%7LC:<3=:7;D%78%D=:QHC3=:7;D%I39?%:;%E3F78%
7E%=>:89%Q?8D7;D%2D=:QHC3=:7;D%!'"#%,"+#"*4%8?I3:;%H;C?DD%D3:9%
=>:89%Q?8D7;D%>3F?%=>?:8%67;D?;=%=7%=>?%;7F3=:7;S
%
%
X$,4'(G%*>?:8%8:<>=D%=7%=>?%366?DD78P%7LC:<3=:7;D%2O>:6>%E78%
=>?I%:D%8?3CCP%3%)*4+*(&+%7;?4%D>7HC9%;7=%L?%Q8?WH9:6?9%O:=>7H=%
=>?:8%67;D?;=S%7D$$%8#+9%:P::%'2%+/$%[*1*-%[')$%2'#%$F,0!-$4%'2%
4+*!"-,+*'(4%!'"#%,"+#"*9?
&
74(2&C?DP2&3+&(S0&*0R&)-"%.#(%)*&%$&1)%6@&(S0&)4%.%*#"&)*0&
$S#""&$9-$%$(@&9*"0$$&(S0&8#4(%0$&%*(0*606&(S#(&(S0&+)4504&40"#;
(%)*&$S)9"6&-0&0`(%*.9%$S06&%*&#*Q&010*(2
!,VVJKMW
XCY& J++0'(&%+&(S0&K0R&,-"%.#(%)*&3$&e)%6
&
%
*>:D% 58=:6C?% >:<>C:<>=D% 7;?% 7E% =>?% ?DD?;=:3C% 8?XH:D:=?D% 7E%
3%F3C:9%;7F3=:7;R%;3I?CPR%=>?%;?O%7LC:<3=:7;%IHD=%L?%#5$"'%
3;9%())(!*"#(S%*>HDR%:E%=>?%;?O%7LC:<3=:7;%:D%F7:9R%=>?8?%:D%
;7%;7F3=:7;R%3;9%=>?%7C9%7LC:<3=:7;%<?;?83CCP%O:CC%DHLD:D=S
X?Y& ,(S04&b#'()4$
234% "E%=>?%;?O%7LC:<3=:7;%:D%DHLW?6=%=7%3%67;9:=:7;%3;9%D3:9%67;V
9:=:7;%97?D%;7=%I3=?8:3C:T?R%=>?%7C9%7LC:<3=:7;%DHLD:D=DS
%
R--"4+#,+*1$%[,4$G
&
&
V#4(%*0a&12&!#1%10$
?=&HS%"2&=EC
&
%
H8[WDG%8%3;9%Z%>39%3%67;=836=%O>:6>%=>?P%3<8??9%
=7% ;7F3=?R% Q87F:9?9% =>?% D:<;3=H8?D% 7E% [% 3;9% I% 67HC9% L?%
7L=3:;?9S%bH=%D3:9%D:<;3=H8?D%O?8?%;?F?8%Q876H8?9S
%
%
`EOIG%*>?%7C9%7LC:<3=:7;%DHLD:D=D%E78%E3:CH8?%7E%=>?%
;7F3=:7;S
2L4% "E%3%;?O%7LC:<3=:7;%O3D%:;=?;9?9R%LH=%=>?%;?O%67;=836=%O3D%
;?F?8%Q?8E?6=?9%E78%C36^%7E%=>?%;?6?DD38P%67;D?;=R%=>?%7C9%
7LC:<3=:7;%67;=:;H?DS%7d,&,%19%b'4&,=%Q;%K/*-9%P<<?9
1/M
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/Jd]
XBY& /9"0&%+&K0R&,-"%.#(%)*&3$&V040"Q&e)%6#-"0
%
%
.HQQ7D?%=>?%;?O%7LC:<3=:7;%:D%1'*),6-$=%O>3=%>3QQ?;D%=7%
=>?%7C9%7LC:<3=:7;f
%
%
8VD9G
234% *>?%7C9%7LC:<3=:7;%:D%;7F3=?9%L?63HD?%3%F7:93LC?%7LC:<3=:7;%
:D%F3C:9%H;=:C%:=%:D%3;;HCC?9S
2L4% "E%=>?%;?O%7LC:<3=:7;%:D%3;;HCC?9R%=>?%7C9%7LC:<3=:7;%DHLD:D=DR%
3;9%O>3=?F?8%;7F3=:7;%>3D%=3^?;%QC36?%O:CC%;3=H83CCP%>3F?%
=7%L?%D?=%3D:9?S%7E(&'0*$(),%19%T$()*$+,=%c[8e%<%89[9X9%
@P<?9
&
&
J*')5%0*6#&12&V0*6%0(#
X!272Y&E&72!2/2&FBE
&
%
H8[WDG%5%9??9%7E%D3C?%O3D%I39?%F3C:9CPS%*>?8?%O3D%3;%
3==?IQ=%=7%;7F3=?%=>?%D3I?%LP%=O7%;?O%9??9D%67;=3:;:;<R%
3I7;<%7=>?8%=>:;<DR%3%Q87F:D:7;%E78%67;F?;=:7;%8?9?IQ=:7;S%
bH=%7;?%7E%=>?%Q38=:?D%=7%=>?%;?O%9??9D%O3D%3%I:;78S
%
%
`EOIG% 5D% =7% D3:9% I:;78R% D3:9% ;?O% 9??9D% 38?% ;7=%
F3C:9% 3;9% ?;E786?3LC?S% *>?8?E78?R% =>?% 78:<:;3C% 67;=836=%
DHLD:D=DS
XFY& J`'08(%)*&()&(S0&/9"0&(S#(&MS040&3$&K)&K)1#(%)*&%+&(S0&
K0R&,-"%.#(%)*&3$&e,3L
&
%
&;?%?Z6?Q=:7;%:D%O>?;%`=>?%Q38=:?D%:;=?;9?9%=>3=%=>?%E78I?8%
8?C3=:7;%D>7HC9%L?%?Z=:;<H:D>?9%:;%3;P%?F?;=Sa%78#+9%:Q>C=%[*1*-%
[')$?9
X=Y& H4)-"05
&
%
I%3;9%[%?;=?8?9%:;=7%3%67;=836=%O>?8?LP%I%O3D%=7%<:F?%[%
,0UURUUU%:;%63D>S%$3=?8R%=>?P%;7F3=?9%=>?%67;=836=%LP%D=:QHC3=:;<%
=>3=%:;D=?39%7E%63D>R%I%O7HC9%<:F?%3%Q38=:6HC38%638S%.HLD?XH?;=CPR%
=>?%638%O3D%9?D=87P?9%LP%3%E78=H:=7HD%?F?;=S%"D%I%7LC:<?9%=7%<:F?%
,0UURUUUf
%
%
8VD9G%-7R%L?63HD?%=>?%78:<:;3C%7LC:<3=:7;%>39%3C8?39P%L??;%
?Z=:;<H:D>?9%LP%=>?%F3C:9%;7F3=:7;S%A78?7F?8R%=>?%7LC:<3=:7;%=7%
9?C:F?8% =>?% Q38=:6HC38% 638% :D% 3CD7% ?Z=:;<H:D>?9% L?63HD?% 7E% =>?%
E78=H:=7HD%?F?;=S
1/1
%
58=S%/Jd0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
74(2&C?DE2&MS0&*)1#(%)*&%$&1)%6&%+&(S0&)4%.%*#"&)-"%.#(%)*&
R#$&1)%6@&0`'08(&RS0*&#**9"50*(&5#Q&-0&'"#%506&)*"Q&-Q&(S0&
60-()4@& )4& RS0*& 4#(%!&'#(%)*& 1#"%6#(0$& #'($& RS%'S& #40& 1)%6;
#-"02&
!,VVJKMW
XCY& J++0'(&%+&(S0&,"6&,-"%.#(%)*&Z#$&e)%6
&
%
&;?%7E%=>?%8?XH:D:=?D%7E%3%F3C:9%;7F3=:7;%:D%=>3=%=>?%7LC:<3V
=:7;%L?%F3C:9S%*+(@()&@(%Y
234% "E%=>?%7C9%7LC:<3=:7;%:D%#&"'R%=>?8?%:D%;7%F3C:9%;7F3=:7;S
2L4% "E%=>?%7C9%7LC:<3=:7;%O3D%#&"'5b$(%3;9%>3D%3C8?39P%L??;%
3;;HCC?9R%=>?8?%:D%('%0'#$%7LC:<3=:7;S%*>?8?E78?R%=>?%;7F3V
=:7;%:D%3CD7%F7:9S
X?Y& /9"0&%+&(S0&,"6&,-"%.#(%)*&Z#$&e)%6#-"0
&
%
.HQQ7D?%=>?%7C9%7LC:<3=:7;%O3D%#&"'5b$(%3;9%>3D%;7=%
P?=%L??;%3;;HCC?9R%I3P%=>?8?%L?%3%F3C:9%;7F3=:7;f
%
%
8VD9G%B(.R%Q87F:9?9%=>3=G
234% 5;;HCI?;=%I3P%L?%6C3:I?9%7;CP%LP%=>?%9?L=78e
%
%
EF,0!-$G%8%O3D%E786?9%=7%D:<;%3%Q87I:DD78P%;7=?%=7%
<:F?%Z%,1UURUUUS%$3=?8%=>?%Q38=:?D%3<8??9%F7CH;=38:CP%=7%C?=%
=>?%DHLW?6=%I3==?8%L?%3%Q8?6:7HD%D=7;?S%5C=>7H<>%=>?%!%8D=%
67;=836=%O3D%1'*),6-$=%=>?%D?67;9%7;?%:D%3CC%8:<>=%L?63HD?%
:;%=>?%!%8D=%67;=836=R%3;;HCI?;=%67HC9%L?%6C3:I?9%7;CP%LP%
=>?%9?L=78S
2L4% &8%O>?;%#,+*!%&,+*'(%F3C:93=?D%36=D%O>:6>%38?%F7:93LC?S
%
%
EF,0!-$G%5;%3<?;=R%36=:;<%O:=>7H=%3H=>78:=P%E87I%>:D%
Q8:;6:Q3CR% L7H<>=% I?86>3;9:D?% E87I% 3% 67IQ3;PS% .>78=CP%
3E=?8%>?%>39%C?38;?9%7E%>:D%3<?;=_D%36=R%=>?%Q8:;6:Q3C%=7C9%=>?%
D?CC?8%=7%9?C:F?8%3;7=>?8%^:;9%7E%I?86>3;9:D?R%67IQC?=?CP%
9:EE?8?;=% E87I% =>?% !%8D=S% *>?% D?CC?8% 3<8??9S% 5C=>7H<>% =>?%
!%8D=% 67;=836=% >?8?% O3D% H;3H=>78:T?9R% 83=:!%63=:7;% LP% =>?%
Q8:;6:Q3C%>3D%6H8?9%:=D%9?E?6=DR%3;9%=>?8?E78?%=>?%D?67;9%
67;=836=%:D%F3C:9S
%
%
cVSWEG%5C=>7H<>%58=S%/Jd0%DQ?3^D%7E%3%`F7:9a%78:<:;3C%
7LC:<3=:7;R%:=%?F:9?;=CP%8?E?8D%=7%3%`#&"'5b$(a%7;?R%O>?8?%
1/N
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/Jd0
,(("-0$(+%78%#,+*!%&,+*'(%I3P%?Z:D=S%5%F7:9%67;=836=%97?D%
;7=%>3F?%=7%L?%3;;HCC?9%('#%63;%:=%L?%83=:!%?9S%78#+9%:@U>=%
[*1*-%[')$?9e
XBY& /9"0&%+&(S0&,"6&,-"%.#(%)*&Z#$&J`(%*.9%$S06&-Q&:)$$
&
%
A3P%3;%7C9%7LC:<3=:7;%=>3=%>3D%L??;%?Z=:;<H:D>?9%LP%$&..%
7E%=>?%DHLW?6=%I3==?8%L?%;7F3=?9f
%
8VD9G%"=%9?Q?;9DG
234% "E%=>?%C7DD%O3D%QH8?CP%L?63HD?%7E%3%E78=H:=7HD%?F?;=%.*+/'"+%
C:3L:C:=P%7;%=>?%Q38=%7E%=>?%9?L=78R%=>?%;7F3=:7;%:D%#&"'%E78%
=>?8?%O7HC9%L?%-&%7LC:<3=:7;%=7%;7F3=?S
2L4% "E%=>?%C7DD%I39?%=>?%9?L=78%C:3LC?R%=>?8?%:D%D=:CC%3;%?Z:D=:;<%
I7;?=38P%7LC:<3=:7;%=>3=%I3P%L?%=>?%DHLW?6=%7E%;7F3=:7;S%
7D$$%<%T,(#$4,%P>CAP><?9
XFY& V#Q& #& H40$'4%-06& ,-"%.#(%)*& N0& (S0& G9-U0'(& )+& K)1#;
(%)*^
%
%
B?DR%L?63HD?%H;C?DD%=>?%9?E?;D?%7E%Q8?D68:Q=:7;%:D%D?=%HQ%LP%
=>?%9?L=78R%=>?%7LC:<3=:7;%67;=:;H?DR%D:;6?%=>:D%E3:CH8?%3I7H;=D%
=7%3%c5"#(@S%7E4+#,),%19%d*--,#$,-=%c[989e%@U%S9N9%cB+/%D"!!9e%
!9%QU:?9
%
%
cVSWEG%5%Q8?D68:L?9%9?L=R%67;D=:=H=:;<%3D%:=%97?D%3%I783C%
78%;3=H83C%7LC:<3=:7;R%I3P%L?%=>?%63HD?%78%67;D:9?83=:7;%7E%3%;?O%
7LC:<3=:7;%=7%Q3P%=>?8?E78S%7d*--,#$,-%19%E4+#,),=%C:%K/*-9%:@U?9e
X=Y& J++0'(& )*& #& e,3L7N:J& ,-"%.#(%)*& )+& K)1#(%)*& -Q& Jp;
H/,V3G3,K
234% +?8?%=>?%9?L=78%:D%;7%97HL=%8?C?3D?9%E87I%>:D%7LC:<3=:7;%
=7%=>?%68?9:=78R%E78%=>?%DHLD=:=H=:7;%O3D%('+%97;?%=>8H%>:D%
:;:=:3=:F?S
2L4% bi*% O>?;% =>?% ;?O% 9?L=78R% 3E=?8% Q3PI?;=R% DH?D% =>?% 7C9%
9?L=78% E78% b(-()"!"5$% @("Abi@.(A(-*R% =>?% 7C9%
9?L=78% 63;% D?=% HQ% O>3=?F?8% 9?E?;D?D% >?% 67HC9% >3F?% D?=%
3<3:;D=%=>?%68?9:=78S
%
%
2EF,0!-$G%=>?%9?E?;D?%7E%I:;78:=P%78%E83H94
1/]
%
58=S%/Jdd
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
&
74(2&C?DD2&3+&(S0&)4%.%*#"&)-"%.#(%)*&R#$&$9-U0'(&()&#&$9$;
80*$%10&)4&40$)"9()4Q&')*6%(%)*@&(S0&*0R&)-"%.#(%)*&$S#""&-0&
9*604&(S0&$#50&')*6%(%)*@&9*"0$$&%(&%$&)(S04R%$0&$(%89"#(062&
!,VVJKMW
XCY& J++0'(&%+&(S0&,4%.%*#"&,-"%.#(%)*&Z#$&!)*6%(%)*#"
234% N$($#,-%#"-$
%
%
*>?%67;9:=:7;D%3==36>?9%=7%=>?%7C9%7LC:<3=:7;%38?%,-4'%
3==36>?9%=7%=>?%;?O%7LC:<3=:7;S
2L4% EF&$!+*'(
%
%
"E%=>?8?%:D%3%!&-*@5@B%.*",i$5*"&-S
X?Y& /0#$)*&+)4&(S0&O0*04#"&/9"0
%
%
"ER%E78%?Z3IQC?R%=>?%DHDQ?;D:F?%67;9:=:7;%3==36>?9%=7%=>?%
7LC:<3=:7;% :D% -&*% EHC!%CC?9R% =>?% 7C9% 7LC:<3=:7;% ;?F?8% 387D?S%
*>?8?E78?R% =>?8?% O7HC9% L?% ('+/*(J% +'% ('1,+$R% D:;6?% ;7F3=:7;%
8?XH:8?D%=>?%?Z:D=?;6?%7E%3%Q8?F:7HD%#5$"'%3;9%())(!*"#(%
7LC:<3=:7;S
XBY& 3""9$(4#(%10&H4)-"05$
234% 8%Q87I:D?9%=7%<:F?%Z%3%638%:E%Z%D>7HC9%Q3DD%=>?%L38%?Z3IDS%
$3=?8R%L7=>%3<8??9%=>3=%O>3=%D>7HC9%L?%<:F?;%O7HC9%L?%3%
9:3I7;9%8:;<S%-7=>:;<%O3D%I?;=:7;?9%:;%=>?%D?67;9%67;V
=836=%8?<389:;<%=>?%67;9:=:7;S%"D%=>?%;?O%7LC:<3=:7;%3CD7%
DHLW?6=%=7%3%DHDQ?;D:F?%67;9:=:7;f
%
%
8VD9G%B?DR%H;C?DD%:=%O3D%7=>?8O:D?%D=:QHC3=?9%:;%=>?%
;?O% 67;=836=S% *>?% 9?C:F?8P% 7E% =>?% 9:3I7;9% 8:;<% O7HC9R%
=>?8?E78?R%L?%9H?%7;CP%3E=?8%Z%>3D%Q3DD?9%=>?%L38%?Z3IDS
2L4% 8%Q87I:D?9%=7%<:F?%Z%3%638%H;C?DD%^%I388:?9%f9%$3=?8%8%
3;9%Z%3<8??9%=7%6>3;<?%=>?%7LW?6=%=7%3%Q8?6:7HD%D=7;?S%-7%
I?;=:7;%O3D%I39?%8?<389:;<%3;P%67;9:=:7;S%"D%=>?%D?67;9%
7LC:<3=:7;%DHLW?6=%=7%3%8?D7CH=78P%67;9:=:7;f
%
%
8VD9G%B?DR%H;C?DD%=>?%67;=838P%>3D%L??;%Q87F:9?9%E78%
:;%=>?%67;=836=S
1/0
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/KUU
264%
";% XH?D=:7;% 2L4R% DHQQ7D:;<% H;9?8% =>?% D3I?% E36=DR% ^% >39%
3C8?39P%I388:?9%f%L?E78?%8%3;9%Z%;7F3=?9%=>?:8%67;=836=R%
O>3=%>3QQ?;D%=7%=>?%;?O%7LC:<3=:7;f
%
%
8VD9G%"=%:D%3D%:E%=>?%;?O%7LC:<3=:7;%;?F?8%387D?R%E78%
3%67;=836=%=>3=%>3D%3C8?39P%L??;%?Z=:;<H:D>?9%63;;7=%L?%
;7F3=?9S
&
&
O)104*50*(&12&N#9(%$(#
X!7Y&BP&,2O2&K)2&DP@&82&CEE>
&
%
H8[WDG%,:C38%*S%b3H=:D=3%I78=<3<?9%6?8=3:;%Q87Q?8V
=:?D%=7%=>?%,7D=3C%.3F:;<D%b3;^S%"=%O3D%D=:QHC3=?9%:;%=>?%
67;=836=% =>3=% b3H=:D=3% 67HC9% =83;DE?8% =>?% I78=<3<?% =7%
3;PL79P% Q87F:9?9% D>?% 67IQC:?9% O:=>% 6?8=3:;% 67;9:=:7;D%
3;9%8?XH:8?I?;=D%2E78%?Z3IQC?R%=>?%Q3PI?;=%7E%=>?%:;=?8?D=%
9H?R%=>?%=83;DE?8%7E%=:=C?%=7%=>?%Q87Q?8=P%=7%=>?%3DD:<;??R%
3%9?Q7D:=%7E%3%6?8=3:;%3I7H;=R%$+&S4S%*>?8?HQ7;R%b3H=:D=3%
=83;DE?88?9% =>?% I78=<3<?% =7% &63IQ7R% O:=>7H=% >7O?F?8%
EHC!%CC:;<% =>?% 8?XH:8?I?;=D% 3C=>7H<>% 8?Q?3=?9% 9?I3;9D%
E78%=>?:8%67IQC:3;6?%>39%L??;%I39?S%*>?%b3;^%I39?%=>?%
D3I?%9?I3;9D%7;%&63IQ7%LH=%D=:CC%=>?%8?XH:8?I?;=D%O?8?%
;7=%EHC!%CC?9S%R44"$G%+3D%=>?8?%8?3CCP%L??;%3%DHLD=:=H=:7;%7E%
9?L=78%>?8?f%!3;%=>?%b3;^%D=:CC%Q876??9%=7%E78?6C7D?%=>?%
I78=<3<?%3D%3<3:;D=%b3H=:D=3f
%
%
`EOIG%*>?8?%>3D%L??;%;7%F3C:9%DHLD=:=H=:7;%7E%9?L=78%
>?8?% 3;9R% =>?8?E78?R% ;7% ;7F3=:7;% L?63HD?% =>?% 67;9:=:7;D%
O?8?% ;7=% EHC!%CC?9S% *>?8?E78?% 3CD7R% b3H=:D=3% 8?I3:;D% =>?%
9?L=78R% 3;9% =>?% b3;^% 63;% D=:CC% Q876??9% =7% E78?6C7D?% =>?%
I78=<3<?%3<3:;D=%>?8S%*>:D%:D%=8H?%9?DQ:=?%=>?%H;XH?D=:7;?9%
=83;DE?8%7E%=>?%I78=<3<?9%Q87Q?8=:?D%=7%&63IQ7R%L?63HD?%
=>?% C?==?8D% 7E% 9?I3;9% 9:9% ('+% LP% =>?ID?CF?D% 67;D=:=H=?%
DHE!%6:?;=%8?3D7;D%=7%8?C?3D?%,:C38%b3H=:D=3%E87I%>?8%7LC:<3V
=:7;S
&
74(2&CB>>2&G9-4).#(%)*&)+&#&(S%46&804$)*&%*&(S0&4%.S($&)+&
(S0&'406%()4&%$&0%(S04&"0.#"&)4&')*10*(%)*#"2&MS0&+)4504&%$&*)(&
840$9506@&0`'08(&%*&'#$0$&0`840$$"Q&50*(%)*06&%*&(S%$&!)60h&
(S0&"#((04&59$(&-0&'"0#4"Q&0$(#-"%$S06&%*&)4604&(S#(&%(&5#Q&(#T0&
0++0'(2&
1/d
%
58=S%/KU/
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& jG9-4).#(%)*d&L0!&*06
&
%
D"6#'J,+*'(%2?Z=:;6=:F?%DHLW?6=:F?%;7F3=:7;%LP%6>3;<?%7E%
=>?%68?9:=784%:D%=>?%=83;DE?8%=7%3%=>:89%Q?8D7;%7E%3CC%=>?%8:<>=D%
3QQ?8=3:;:;<% =7% =>?% 68?9:=78R% :;6CH9:;<% =>?% 8:<>=% =7% Q876??9%
3<3:;D=%<H383;=78DR%78%Q7DD?DD78D%7E%I78=<3<?DR%DHLW?6=%=7%3;P%
C?<3C%Q87F:D:7;%78%3;P%I79:!%63=:7;%=>3=%I3P%L?%3<8??9%HQ7;S%
7D$$%<%T,(#$4,%@@?9
X?Y& k%*6$&)+&G9-4).#(%)*
234% )87I%=>?%F:?OQ7:;=%7E%&,"4$%'#%'#*J*(G
/4%
&'(1$(+*'(,-%78%1'-"(+,#5%4"6#'J,+*'(%2=>:D%8?XH:8?D%
3;%3<8??I?;=%3;9%=>?%67;D?;=%7E%=>?%78:<:;3C%Q38=:?D%
3;9%7E%=>?%68?9:=784%78#+9%:PU:?
J4%
-$J,-% 4"6#'J,+*'(% 2=>:D% =3^?D% QC36?% LP% 7Q?83=:7;% 7E%
C3O4
2L4% )87I%=>?%F:?OQ7:;=%7E%$F+$(+G
/4%
+'+,-%4"6#'J,+*'(
J4%
!,#+*,-%4"6#'J,+*'(%2>?8?R%=>?8?%O7HC9%;7O%L?%=O7%78%
I78?%68?9:=78D4
XBY& :0.#"&G9-4).#(%)*&K)(&H40$9506
%
%
$?<3C%DHL87<3=:7;%:D%('+%!#$4"0$)R%?Z6?Q=%:;%=>?%63D?%?ZV
Q8?DDCP%I?;=:7;?9%:;%=>?%C3OS%7D$$%8#+9%:PUQh%4$$%,-4'%K,(J,(*6,(%
19%["$1,4=%C%K/*-9%@CC?9
XFY& !)*10*(%)*#"&G9-4).#(%)*&V9$(&N0&J$(#-"%$S06
%
%
!7;F?;=:7;3C% DHL87<3=:7;% IHD=% L?% 6C?38CP% $4+,6-*4/$)R%
7=>?8O:D?R%:=%:D%3D%:E%;7%DHL87<3=:7;%>3D%=3^?;%QC36?S
&
74(2& CB>C2& !)*10*(%)*#"& $9-4).#(%)*& )+& #& (S%46& 804$)*&
40_9%40$&(S0&')*$0*(&)+&(S0&)4%.%*#"&8#4(%0$&#*6&)+&(S0&(S%46&
804$)*2
1JU
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/KU/
!,VVJKMW
XCY& !)*10*(%)*#"&)4&e)"9*(#4Q&G9-4).#(%)*
%
%
)78%&'(1$(+*'(,-%78%-$J,-%DHL87<3=:7;R%=>?%67;D?;=%7E%5$$%
=>?%Q38=:?D%:D%8?XH:8?9G
234% +/$% )$6+'#% Y% L?63HD?% >?% L?67I?D% C:3LC?% H;9?8% =>?% ;?O%
7LC:<3=:7;e%3;9%L?63HD?%>:D%7C9%7LC:<3=:7;%?;9D
2L4% +/$%'-)%&#$)*+'#%]%L?63HD?%>:D%68?9:=%:D%3EE?6=?9
264%
+/$%($.%&#$)*+'#%]%L?63HD?%>?%L?67I?D%3%Q38=P%=7%=>?%7LV
C:<3=:7;
%
%
2VSWEG% h?;?83CCPR% =>?% 9?L=78% C7D?D% =>?% 8:<>=% =7%
Q8?D?;=% 3<3:;D=% =>?% ;?O% 68?9:=78% 3;P% 9?E?;D?% O>:6>% >?R%
=>?%9?L=78R%67HC9%>3F?%D?=%HQ%3<3:;D=%=>?%7C9%68?9:=78S4
%
%
2VSWEG% 5D% L?=O??;% 67;F?;=:7;3C% DHL87<3=:7;% 3;9%
3DD:<;I?;=%7E%=>?%68?9:=R%=>?%C3==?8R%:;D7E38%3D%=>?%68?9:=78%
:D%67;6?8;?9R%D>7HC9%L?%Q8?E?88?9R%E78%:=%>3D%39F3;=3<?DR%
O:=>7H=%=>?%6788?DQ7;9:;<%9:D39F3;=3<?D%7E%67;F?;=:7;3C%
DHL87<3=:7;S%iQ7;%=>?%7=>?8%>3;9R%67;F?;=:7;3C%DHL87<3V
=:7;% 63;;7=% Q8?D?;=% 3;P% 39F3;=3<?% 7F?8% 3DD:<;I?;=% 7E%
68?9:=S4
X?Y& L%$(%*'(%)*$&N0(R00*&!)*10*(%)*#"&G9-4).#(%)*&#*6&7$;
$%.*50*(&)+&!406%(&XG00&E&V#*40$#@&82&FFEY
8DDRNVTEVW%SH
[XEIRW
[SVdEVWRSV8O
D_ZXSN8WRSV
234% >?8?R%=>?8?%:D%I?8?%=83;DE?8% 234% ?Z=:;<H:D>?D%=>?%7LC:<3=:7;R%
7E%=>?%.5A(%8:<>=%78%68?9:=%
3;9%68?3=?D%3%;?O%7;?
2=>?%=83;DE?8%9:9%;7=%?Z=:;V
<H:D>%=>?%68?9:=4
2L4% =>:D% 97?D% ('+% 8?XH:8?% =>?% 2L4% =>:D% 8?XH:8?D% =>?% 9?L=78_D%
9?L=78_D%67;D?;=%2I?8?%('A
67;D?;=
+*2*&,+*'(% =7% >:I% :D% DHEE:V
6:?;=4
1J/
%
58=S%/KUJ
264%
%
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
=>?% 9?E?6=% :;% =>?% 68?9:=% 78% 264%
8:<>=%:D%;7=%6H8?9%D:IQCP%LP%
3DD:<;:;<%=>?%D3I?%2+?8?R%
=>?% 9?L=78% <?;?83CCP% 4+*--%
>3D% +/$% #*J/+% =7% Q8?D?;=%
3<3:;D=% =>?% ;?O% 68?9:=78%
3;P% 9?E?;D?% 3F3:C3LC?% 3D%
3<3:;D=%7C9%68?9:=78S4
=>?%9?E?6=%7E%=>?%7C9%7LC:<3V
=:7;%I3P%L?%6H8?9%:;%DH6>%
3%O3P%=>3=%=>?%;?O%7LC:<3V
=:7;%L?67I?D%?;=:8?CP%F3C:9%
2*>HD% >?8?R% =>?8?% :D% ;7%
8:<>=%=7%Q8?D?;=%3<3:;D=%=>?%
;?O% 68?9:=78% 3;P% 9?E?;D?%
O>:6>%>?R%=>?%9?L=78R%67HC9%
>3F?%D?=%HQ%3<3:;D=%=>?%7C9%
68?9:=78S4
%
2VSWEG%*>?%!7H8=%7E%5QQ?3CD%:;%=>?%63D?%7E%['#+$4%19%K/*-9%
W#"4+% ['9=% 7[989?% @B% S9N9% V'9% Q>Q=% >?C9R% >7O?F?8R% =>3=% 3;% 3DV
D:<;I?;=%7E%3%D3F:;<D%9?Q7D:=%:;%3%L3;^%:D%('+%3%O:=>983O3C%LH=%
3%D78=%7E%DHL87<3=:7;R%O:=>%=>?%3667H;=%L?:;<%67;=:;H?9%:;%=>?%
;3I?%7E%=>?%3DD:<;??S4
&
74(2& CB>?2& 3(& %$& 840$9506& (S#(& (S040& %$& "0.#"& $9-4).#;
(%)*W
&
XCY& ZS0*&#&'406%()4&8#Q$&#*)(S04&'406%()4&RS)&%$&840;
+04406@&010*&R%(S)9(&(S0&60-()4d$&T*)R"06.0h
&
X?Y& ZS0*&#&(S%46&804$)*@&*)(&%*(040$(06&%*&(S0&)-"%.#(%)*@&
8#Q$&R%(S&(S0&0`840$$&)4&(#'%(&#884)1#"&)+&(S0&60-()4h
&
XBY& ZS0*@&010*&R%(S)9(&(S0&T*)R"06.0&)+&(S0&60-()4@&#&804;
$)*&%*(040$(06&%*&(S0&+9"!&""50*(&)+&(S0&)-"%.#(%)*&8#Q$@&R%(S)9(&
840U96%'0&()&(S0&0++0'($&)+&')*+9$%)*&#$&()&(S0&"#((04d$&$S#402
!,VVJKMW
XCY& :0.#"&G9-4).#(%)*
&
%
*>:D%58=:6C?%DQ?3^D%7E%$(h5$%DHL87<3=:7;S%i;9?8%=>?%7C9%
!79?R%=>?%O789%`C?<3Ca%O3D%;7=%Q8?D?;=S%"=%O3D%:;D?8=?9%>?8?%E78%
=>?%D3^?%7E%&-,#*+59
X?Y& b%4$(&3*$(#*'0
%
%
`c>?;%3%68?9:=78%Q3PD%3;7=>?8%68?9:=78%O>7%:D%Q8?E?88?9R%
$1$(%.*+/'"+%=>?%9?L=78_D%^;7OC?9<?Sa
1JJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/KUJ
234% EF,0!-$G
%
%
$:<3P3%>3D%=O7%68?9:=78DG%hC78:3R%O>7%:D%3%0'#+J,J$%
68?9:=78% E78% ,/R1UURUUUR% 3;9% .7C:=3R% O>7% :D% 3;% '#)*(,#5%
68?9:=78%2'#%,NUURUUUS%.7C:=3R%O:=>7H=%$:<3P3_D%^;7OC?9<?R%
Q3:9%$:<3P3_D%9?L=%7E%,/1URUUU%=7%hC78:3S%+?8?%.7C:=3%O:CC%L?%
DHL87<3=?9%:;%=>?%8:<>=D%7E%hC78:3S%*>:D%I?3;D%=>3=%.7C:=3%
O:CC%>?8D?CE%;7O%L?%3%0'#+J,J$%&#$)*+'#%E78%,/R1UURUUUR%3;9%
3;%'#)*(,#5%68?9:=78%E78%,NUURUUUS%"E%$:<3P3%E3:CD%=7%Q3P%=>?%
,/R1UURUUU%9?L=R%.7C:=3%63;%>3F?%=>?%I78=<3<?%E78?6C7D?9%
2=>3=%:DR%=>?%Q87Q?8=P%63;%L?%D7C9%3=%QHLC:6%3H6=:7;R%O:=>%
.7C:=3%L?:;<%Q3:9%E87I%=>?%Q876??9D%=>?8?7E4S
%
%
2VSWEG%*>?%3;DO?8%O:CC%L?%=>?%.5A(%:E%.7C:=3%Q3:9%
O:=>%$:<3P3_D%^;7OC?9<?S4
2L4% .HQQ7D?%:;%=>?%3L7F?6:=?9%?Z3IQC?R%.7C:=3%Q3:9%hC78:3%7;CP%
,/RKUURUUU%E78%$:<3P3_D%=7=3C%:;9?L=?9;?DD%2hC78:3%3<8??9%
L?63HD?% 7E% E8:?;9D>:Q4R% >7O% IH6>R% 67;6?8;:;<% +/*4% )$6+=%
I3P%.7C:=3%DH66?DDEHCCP%8?67F?8%E87I%$:<3P3f
%
%
8VD9G%*>?%O>7C?%,/R1UURUUU%L?63HD?%67;6?8;:;<%=>:D%
9?L=R%.7C:=3%D=?QD%67IQC?=?CP%:;=7%=>?%D>7?D%7E%hC78:3S
264%
.HQQ7D?%:;%Q87LC?I%2L4R%.7C:=3%Q3:9%=>?%,/RKUURUUU%=7%hC78:3%
O:=>7H=%$:<3P3_D%^;7OC?9<?R%LH=%:=%=H8;D%7H=%=>3=%3=%D3:9%
=:I?%7E%Q3PI?;=R%$:<3P3_D%9?L=%>39%3C8?39P%L??;%8?9H6?9%
=7%,KUURUUU%2L?63HD?%7E%3%!#*'#%!,#+*,-%Q3PI?;=4R%>7O%IH6>%
63;%.7C:=3%DH66?DDEHCCP%8?67F?8%E87I%$:<3P3%67;6?8;:;<%=>:D%
9?L=f
%
%
8VD9G% &;CP% D3:9% ,KUURUUU% L?63HD?% =>:D% :D% 7;CP% =>?%
?Z=?;=%=7%O>:6>%$:<3P3%>39%L??;%L?;?!%=?9S%"=%:D%.7C:=3_D%
E3HC=%=>3=%D>?%9:9%('+%!%8D=%:;E78I%$:<3P3%7E%>?8%:;=?;=:7;%
=7%Q3PS%.7C:=3_D%8?I?9P%;7O%O7HC9%L?%=7%8?67F?8%=>?%?Z6?DD%
3I7H;=%E87I%hC78:3S
%
%
2VSWEG%";%C?<3C%DHL87<3=:7;%63HD?9%LP%Q3PI?;=%=7%3%
Q8?E?88?9%68?9:=78R%I3P%=>?%9?L=78%D?=%HQ%3<3:;D=%=>?%;?O%
68?9:=78%9?E?;D?D%O>:6>%>?R%=>?%9?L=78R%67HC9%>3F?%D?=%HQ%
3<3:;D=%=>?%7C9%68?9:=78f
%
%
8VD9G%B?DR%E78%3E=?8%3CCR%=>?%DHL87<3=:7;%=77^%QC36?%
LP%7Q?83=:7;%7E%C3OS%*>:D%?EE?6=%9:EE?8D%E87I%=>?%?EE?6=%7E%
!&-#(-*"&-5$%DHL87<3=:7;%O>?8?%=>?%9?L=78%<3F?%/*4%
&'(4$(+9?
1JK
%
58=S%/KUJ
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
%
%
2VSWEG%(Z3IQC?D%7E%DH6>%9?E?;D?D%38?%=>?%E7CC7O:;<G%
63HD?D%7E%F:=:3=?9%67;D?;=%C:^?%E786?R%:;=:I:93=:7;R%I:;78:=PR%
H;9H?% :;"%H?;6?R% ?8878e% 7=>?8% 63HD?D% C:^?% Q8:78% Q3PI?;=%
O>?=>?8%=7=3C%78%Q38=:3Ce%8?I:DD:7;e%67IQ?;D3=:7;R%$+&S4
%
%
cVSWEG%)78%?Z3IQC?%7E%`Q8?E?88?9%68?9:=78a%D??%b77^%
"#R%*:=C?%q"q%7E%=>?%!:F:C%!79?%7;%,8?E?8?;6?%7E%!8?9:=DS%
78#+9%QQ@:%,()%+/$%2'--'.*(J%,#+*&-$4?9e
XBY& G0')*6&3*$(#*'0
%
%
`c>?;%3%=>:89%Q?8D7;R%;7=%:;=?8?D=?9%:;%=>?%7LC:<3=:7;R%Q3PD%
O:=>%=>?%$F!#$44%78%+,&*+%3QQ87F3C%7E%=>?%9?L=78Sa
234% EF,0!-$G
%
%
(HL7C7%7O?D%$H;3%,/RUUURUUU%4$&"#$)%65%,%0'#+J,J$9%
bC?D:C93R% 3% 6C3DDI3=?% 7E% (HL7C7R% 3;9% >3F:;<% ;7% 67;;?6V
=:7;% O:=>% =>?% 67;=836=% 3=% 3CCR% Q3:9% $H;3% =>?% ,/RUUURUUU%
O:=>%(HL7C7_D%3QQ87F3CS%"D%bC?D:C93%DHL87<3=?9%:;%$H;3_D%
QC36?f
%
%
8VD9G%B?DR%L?63HD?%3C=>7H<>%('+%:;=?8?D=?9%:;%=>?%7LV
C:<3=:7;R%D>?%;?F?8=>?C?DD%Q3:9%7EE%$H;3%O:=>%=>?%3QQ87F3C%
7E%=>?%9?L=78S%78#+9%:PUQ=%V'9%Q?9
2L4% "E% :;% =>?% 3L7F?% ?Z3IQC?R% bC?D:C93R% O>7% :D% $H;3_D% E8:?;9R%
Q3:9%>?8%7;CP%,]UURUUU%E78%=>?%?Z=:;<H:D>I?;=%7E%(HL7C7_D%
9?L=R%LH=%=>?%Q3PI?;=%O3D%I39?%O:=>7H=%=>?%?ZQ8?DD%78%
=36:=%3QQ87F3C%7E%(HL7C7R%O>3=%O7HC9%L?%bC?D:C93_D%8:<>=DR%
:E%3;Pf
%
%
8VD9G%*>?8?%:D%;7%C?<3C%DHL87<3=:7;%>?8?%L?63HD?%=>?8?%
O3D%;7%?ZQ8?DD%78%:IQC:?9%3QQ87F3C%7E%(HL7C7S%*>?8?E78?R%
3CC% =>3=% bC?D:C93% 63;% 8?67F?8% :D% ,]UURUUU% E78% =>:D% :D% =>?%
3I7H;=%O:=>%O>:6>%D>?%:D%DHQQ7D?9%=7%L?%@("Abi@.('%
23% <:F:;<% L36^% =7% >?8% 7E% O>3=% D>?% >39% '".bi@.('4S% "E%
(HL7C7%97?D%-&*%Q3PR%bC?D:C93%63;;7=%>3F?%=>?%I78=<3<?%
E78?6C7D?9S%)78R%3D%>3D%L??;%D3:9R%=>?8?%>3D%L??;%;7%DHL87V
<3=:7;%>?8?S
XFY& MS%46&3*$(#*'0
&
%
`c>?;R%?F?;%O:=>7H=%=>?%^;7OC?9<?%7E%3%9?L=78R%3%Q?8D7;%
:;=?8?D=?9% :;% =>?% EHC!%CCI?;=% 7E% =>?% 7LC:<3=:7;% Q3PDR% O:=>7H=%
Q8?WH9:6?%=7%=>?%?EE?6=D%7E%67;EHD:7;%3D%=7%=>?%C3==?8_D%D>38?Sa
1JM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
58=S%/KUK
234% EF,0!-$4%7E%Q?8D7;D%`:;=?8?D=?9Ga
/4%
3%<H383;=78
J4%
=>?%7O;?8%7E%=>?%Q87Q?8=P%I78=<3<?9%3D%D?6H8:=P%E78%
=>?%9?L=78_D%9?L=
2L4% EF,0!-$%'2%+/$%W/*#)%R(4+,(&$G
%
%
I%7O?D%[%,/RUUURUUU%D?6H8?9%LP%3%I78=<3<?%3;9%LP%
3%<H383;=P%7E%NS%"E%N=%?F?;%O:=>7H=%I\4%^;7OC?9<?R%Q3PD%[%
=>?%,/RUUURUUUR%N%O:CC%L?%DHL87<3=?9%:;%[\4%QC36?S%bH=%7E%
67H8D?%=>?%<H383;=P%:D%?Z=:;<H:D>?9S%*>:D%:D%O>3=%=>?%C3O%
I?3;D%O>?;%:=%D3PD%=>3=%=>?8?%:D%C?<3C%DHL87<3=:7;%`O:=>V
7H=%Q8?WH9:6?%=7%=>?%?EE?6=D%7E%&'(2"4*'(%3D%=7%=>?%C3==?8_D%
2Q3P78_D4%D>38?%:;%=>?%7LC:<3=:7;Sa%78#+9%:PUQ=%!,#9%P?9
264%
"D%3%4'-*),#5%9?L=78%:;6CH9?9%:;%=>?%D67Q?%7E%`3%Q?8D7;%:;V
=?8?D=?9fa
/4%
.=8:6=CP% DQ?3^:;<R% -&R% L?63HD?% O>?;% =>?% D7C:938P%
9?L=78% Q3PD% =>?% O>7C?% 7LC:<3=:7;% =7% =>?% 68?9:=78R%
4'-*),#5%7LC:<3=:7;%:=D?CE%:D%?Z=:;<H:D>?9S%*>?8?E78?R%
:=%&,(('+%L?%=8HCP%D3:9%=>3=%D3:9%D7C:938P%9?L=78%D=?QD%
&'0!-$+$-5%:;=7%=>?%D>7?D%7E%=>?%68?9:=78S%A78?7F?8R%
3C=>7H<>%=>?%7=>?8%D7C:938P%9?L=78D%IHD=%8?:ILH8D?%
>:IR%=>:D%7LC:<3=:7;%=7%8?:ILH8D?%:D%;7=%D7C:938PR%LH=%
0$#$-5%W7:;=R%?Z6?Q=%7E%67H8D?%=>3=%=>?P%38?%,--%!#'A
!'#+*'(,+$-5%C:3LC?%:;%=>?%I?3;=:I?%E78%=>?%:;D7CF?;6P%
7E%7;?%7E%=>?IS%7D$$%M*-4'(%19%Z$#L$(L'++$#=%@>%S9N9%
:@U:?9
J4%
";% 3;7=>?8% 2`C77D?a4% D?;D?R% =>?% D7C:938P% 9?L=78% I3P%
L?% D3:9% =7% E3CC% H;9?8% =>?% 63=?<78P% 7E% 3;% `:;=?8?D=?9%
Q?8D7;a%:;%=>3=%>?%D=?QD%:;%3%O3P%:;=7%=>?%D>7?D%7E%
=>?%7C9%68?9:=78R%D:;6?%>?%O7HC9%L?%?;=:=C?9%=7%!&$V
$(!*%8?:ILH8D?I?;=R%LH=%7E%67H8D?%>?%63;;7=%67CC?6=%
=>?%O>7C?%3I7H;=%3;PI78?%:;%F:?O%7E%=>?%`?EE?6=%7E%
67;EHD:7;%278%I?8<?84%3D%=7%>:D%D>38?Sa%7D$$%8#+9%:Q:C=%
[*1*-%[')$?9
&
74(2&CB>B2&G9-4).#(%)*&(4#*$+04$&()&(S0&804$)*&$9-4).#(06&
(S0& '406%(& R%(S& #""& (S0& 4%.S($& (S040()& #8804(#%*%*.@& 0%(S04&
#.#%*$(&(S0&60-()4&)4&#.#%*$(&(S%46&804$)*$@&-0&(S0Q&.9#4#*;
()4$& )4& 8)$$0$$)4$& )+& 5)4(.#.0$@& $9-U0'(& ()& $(%89"#(%)*& %*& #&
')*10*(%)*#"&$9-4).#(%)*2&
1J1
%
58=S%/KUM
!"#"$%!&'(%&)%*+(%,+"$",,"-(.
!,VVJKMW
XCY& J++0'($&)+&G9-4).#(%)*
%
%
-7=?%=>3=%=>?%&#$)*+%3;9%3CC%=>?%,!!"#+$(,(+%#*J/+4=%?:=>?8%
3<3:;D=% =>?% 9?L=78R% 78% 3<3:;D=% +/*#)% !$#4'(4=% 38?% +#,(42$##$)%
2=>HDR%:;%3%D?;D?%=>?%7LC:<3=:7;%DHLD:D=DR%=>3=%:DR%:=%>3D%('+%P?=%
L??;%?Z=:;<H:D>?9%78%Q3:94S
X?Y& J`#58"0&)+&(S0&J++0'($&)+&G9-4).#(%)*
&
%
I% 7O?D% [% ,/RUUURUUUS% N% :D% =>?% <H383;=78S% 5% D=83;<?8% D%
Q3:9%[%=>?%,/RUUURUUU%O:=>%=>?%67;D?;=%7E%I%3;9%[9%D%:D%;7O%
DHL87<3=?9%:;%=>?%QC36?%7E%[9%"E%I%63;;7=%Q3P%=>?%,/RUUURUUUR%D%
63;%Q876??9%3<3:;D=%=>?%<H383;=78R%N9
XBY& J++0'(&)+&H40$0*'0&)+&#&G9$80*$%10&!)*6%(%)*
&
%
"=% :D% H;9?8D=779% =>3=% :E% =>?% =83;DE?88?9% 68?9:=% :D% DHLW?6=%
=7%3%DHDQ?;D:F?%67;9:=:7;R%=>?%;?O%68?9:=78%63;;7=%67CC?6=%H;=:C%
3E=?8%D3:9%67;9:=:7;%:D%EHC!%CC?9S%7D$$%N'(k,-$4%I*$k%19%I$-J,)'=%
PC%K/*-9%P<>?9
&
74(2&CB>F2&7&'406%()4@&()&RS)5&8#4(%#"&8#Q50*(&S#$&-00*&
5#60@&5#Q&0`04'%$0&S%$&4%.S(&+)4&(S0&405#%*604@&#*6&S0&$S#""&
-0&840+04406&()&(S0&804$)*&RS)&S#$&-00*&$9-4).#(06&%*&S%$&
8"#'0&%*&1%4(90&)+&(S0&8#4(%#"&8#Q50*(&)+&(S0&$#50&'406%(2&
!,VVJKMW
XCY& H#4(%#"&G9-4).#(%)*
&
%
+?8?R%=>?8?%38?%=O7%68?9:=78DG
234% =>?%7C9%68?9:=78R%O>7%D=:CC%8?I3:;D%3%68?9:=78%3D%=7%L3C3;6?%
2L?63HD?%7;CP%3%Q38=:3C%Q3PI?;=%>3D%L??;%I39?%=7%>:I4e
2L4% =>?%;?O%68?9:=78%O>7%:D%3%68?9:=78%=7%=>?%?Z=?;=%7E%O>3=%>?%
>39%Q3:9%=>?%68?9:=78S
X?Y& J`#58"0
&
%
8%7O?D%Z%,1UURUUUS%c:=>%=>?%67;D?;=%7E%L7=>R%[%Q3PD%Z%
,J1URUUUS%-7O%Z%3;9%[%38?%=>?%68?9:=78D%7E%8%=7%=>?%3I7H;=%
7E%,J1URUUUS%.HQQ7D?%8%>3D%7;CP%,J1URUUU%O>7%D>7HC9%L?%Q8?V
E?88?9f
1JN
!"#"$%!&'(%&)%*+(%,+"$",,"-(.%
%
58=S%/KUM
%
8VD9G%Z=%=>?%78:<:;3C%68?9:=78R%D>7HC9%L?%Q8?E?88?9%:;3DIH6>%
3D%>?%:D%<83;=?9%LP%=>?%C3O%78#+9%:PU@=%[*1*-%[')$?%Q8?E?8?;=:3C%
8:<>=%=7%8?67F?8%=>?%8?I3:;9?8R%7F?8%=>?%Q?8D7;%DHL87<3=?9%:;%
>:D%QC36?%LP%F:8=H?%7E%=>?%Q38=:3C%Q3PI?;=%7E%=>?%D3I?%68?9:=S
XBY& H40+040*'0&%*&(S0&7$$0($
&
%
*>?% Q8?E?8?;6?% :D% 7;CP% :;% =>?% 3DD?=D% 8?I3:;:;<% O:=>% =>?%
9?L=78% 2;7=% =>7D?% 3C8?39P% =83;DE?88?9% =7% 7=>?8D4S% 7T'-*(,% 19%
D'0$4=%P:%K/*-9%C;?9%W/$#$2'#$=%=>?%7C9%68?9:=78%IHD=%3DD?8=%>:D%
6C3:I%78%Q8?E?8?;6?%7F?8%=>?%3DD?=D%7;CP%O>:C?%=>?P%,#$%4+*--%*(%
+/$%/,()4%'2%+/$%4/$#*22%O>7%>3D%C?F:?9%7;%=>?%Q87Q?8=:?DS%"E%97;?%
C3=?8R%=>?%Q8?E?8?;6?%<:F?;%LP%=>:D%38=:6C?%!(5.(.S%7T'-*(,%19%
D'0$4=%P:%K/*-9%C;=%#$2$##*(J%+'%,%!#*'#%&,4$%]%D'0$4%19%T'-*(,=%
:B%K/*-9%:PP?9
&
&
G)50$&12&V)"%*#
C=&HS%"2&CBB
&
%
H8[WDG%Z%L7H<>=%Q87Q?8=P%E87I%^%7;%=>?%:;D=3CCI?;=%QC3;%
2M% :;D=3CCI?;=D4S% D% 36=?9% 3D% DH8?=P% 23% <H383;=78% O>7% L7H;9%
>:ID?CE%D7C:938:CP%O:=>%Z4S%c>?;%Z%E3:C?9%=7%Q3P%=>?%!%8D=%:;D=3CCV
I?;=R%^%DH?9%Z%3;9%D=%3;9%=>?%WH9<I?;=%O3D%D3=:D!%?9%E87I%D\4%
Q87Q?8=:?DS%$3=?8R%Z%3<3:;%9?E3HC=?9%:;%=>?%Q3PI?;=%7E%=>?%7=>?8%
:;D=3CCI?;=DR%3;9%WH9<I?;=%O3D%?;=?8?9%3<3:;D=%>:IS%D=%E?38EHC%
E78%>:D%8:<>=DR%=>?;%L87H<>=%3;%36=:7;%=7%>3F?%>:ID?CE%9?6C38?9%
DHL87<3=?9%:;%=>?%8:<>=D%7E%^9%+?%9:9%=>:D%L?63HD?%>?%O3;=?9%=7%
L?%Q3:9%!%8D=R%E87I%=>?%3DD?=D%7E%ZS%";%7=>?8%O789DR%>?%O3;=?9%=7%
L?%Q8?E?88?9%7F?8%^=%=>?%D?CC?8e%>?%9:9%;7=%O3;=%^%=7%L?%Q3:9%!%8D=%
E78%=>?%WH9<I?;=S
%
%
`EOIG%D%63;;7=%L?%Q8?E?88?9S%5D%3%I3==?8%7E%E36=R%:=%:D%^%
=7%O>7I%=>?%C3O%<83;=D%Q8?E?8?;6?%L?63HD?%^%:D%3%68?9:=78%=7%
O>7I%7;CP%3%!,#+*,-%!,50$(+%>3D%L??;%I39?S
%
%
cVSWEG%R()$$)=%+/$#$%.,4%'(-5%,%!,#+*,-%!,50$(+%6$&,"4$%
'(-5%'($%*(4+,--0$(+%]%'2%+/$%4,0$%)$6+%]%/,)%6$$(%!,*)9%7D$$%
8#+9%:PU@?9e
1J]
!
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
!"!#$%""&%'%()*!+,(!(./0123%4
5$*$+,#%6+)7"-")*!
"#$%!&'()%!"!*+,$#-*$!./!-!011$.,2!+3!0.,4/!51$611,!$6+!
71#/+,/!681#159!+,1!5.,4/!8.0/1:3;!6.$8!#1/71*$!$+!$81!+$81#;!
$+!2.<1!/+01$8.,2!+#!$+!#1,41#!/+01!/1#<.*1%!
=>??@ABC
D&E! F=+,$#-*$G!H1!!,14
234! 5! !"#$%&!$6! 789:! ;<=! %3;>?' (!"#$%&!$)*+' 3?@! 789:! ;<=!
)8=?A<! BA9?;83A;6C! >D! B3! EF8>@>A3G! A9?H=?;>9?! :3?>7=D;=@!
>?!G=I3G!798:6!JK!H>8;F=!97!L<>A<6!9?=!98!:98=!M=8D9?D!298!
M38;>=D4!J>?@!;<=:D=GH=D!>?!73H98!97!3?9;<=8!98!9;<=8D6!98!
8=A>M89A3GGK6!;9!;<=!7FG!!GG:=?;!97!3!M8=D;3;>9?!;9!I>H=6!;9!@9!
98!?9;!;9!@9NC',-'.&#!/01'2"3&#'4-564-789!B5!A9?;83A;!>D!3!
:==;>?I!97!:>?@D!J=;L==?!;L9!M=8D9?D!L<=8=JK!9?=!J>?@D!
<>:D=G7!L>;<!8=DM=A;!;9!;<=!9;<=86!;9!I>H=!D9:=;<>?I!98!;9!
8=?@=8!D9:=!D=8H>A=NOO!,:;<=>0%$"'?=!&#$&%&'@9'A"%#0=<"'B9'
2<$&C'D%N6!E2'4FG77GC'H0!9'4-C'IJJ489
2J4! #;! >D! ;<=! 3I8==:=?;! 97! ;L9! 98! :98=! M=8D9?D! 298! M38;>=D4!
798!;<=!MF8M9D=!97!A8=3;>?I6!:9@>7K>?I6!98!=P;>?IF>D<>?I!3!
EF8>@>A3G!8=G3;>9?!J=;L==?!;<=:N!,?%$9'4FI4C'K$&=<&#'A<@<='
A";0'&#;'I'A&*$&#'45-89
!
!
=#+,.*+!<%!I%?%!BJ-/+,!K!=+%;!L,*%
MN')OPO;!"J2%!OQ;!&RPP
!
!
.<9FG@!3!D=GG=8!97!G9;D!9?!>?D;3GG:=?;!<3H=!;L9!98!:98=!
M89DM=A;>H=!JFK=8D6!>;!<3D!3!8>I<;!;9!D=G=A;!;<=!M=8D9?!;9!
L<9:!;<=!M89M=8;K!D<9FG@!J=!D9G@N!*<>D!>D!M38;>AFG38GK!D96!
/01
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZ/
J=A3FD=!JFK=8D!L<9!:3K!J=!@=G>?RF=?;!>?!;<=!M3K:=?;!97!
:9?;<GK! >?D;3GG:=?;D! D<9FG@! J=! 3H9>@=@6! ;9! M8=H=?;! =PS
M=?D>H=!DF>;D!>?!A9F8;N!+=8=!>;!3MM=38=@!;<3;!;<=!8=E=A;=@!
JFK=8!L3D!9?=!L<9!JK!<=8D=G7!A9FG@!?9;!37798@!;9!M3K6!3?@!
L<9!3MM38=?;GK!L3D!3!B789?;C!798!D9:=9?=!=GD=N
!
!
S-4.+!=+00J,.*-$.+,/!+3!$81!T8.:/%;!L,*%!<%!="
US!VVPVW;!"J2%!OR;!&RWQ
!
!
(H=8K;>:=!3!M=8D9?!;83?D:>;D!3!:=DD3I=!;<89FI<!;<=!73A>G>S
;>=D!97!3!A98M983;>9?!=?I3I=@!>?!;<=!JFD>?=DD!97!8=A=>H>?I!3?@!
;83?D:>;;>?I!:=DD3I=D6!3!A9?;83A;!>D!=?;=8=@!>?;9N!TM9?!8=A=>M;!
97!;<=!83;=!98!7==!!!P=@6!;<=!A98M983;>9?!F?@=8;3U=D!;9!;83?D:>;!
;<=!:=DD3I=!3AAF83;=GKN
DOE! @:101,$/!+3!-!=+,$#-*$
234! 0**0#$<&='0=030#$*'L'2L>;<9F;!;<=:!3!A9?;83A;!A3??9;!=PS
>D;4
!
'
2:M&3N=0*O!A9?D=?;6!DFJE=A;!:3;;=86!A3FD=!98!A9?D>@S
=83;>9?4
!
2PQR:O!#?!D9:=!A9?;83A;D6!S"%3'>D!3GD9!=DD=?;>3GV!D;>GG!>?!
9;<=8D6!;0=<@0%T'>D!G>U=L>D=!=DD=?;>3GN4
2J4! #&$)%&='0=030#$*!W!2;<9D=!79F?@!>?!A=8;3>?!A9?;83A;D6!3?@!
M8=DF:=@! ;9! =P>D;6! F?G=DD! ;<=! A9?;838K! <3D! J==?! D;>MFS
G3;=@4
!
!
2:M&3N=0O'U&%%&#$T'&V&<#*$'0@<!$<"#!3?@!3I3>?D;!/<;6
;0#';0S0!$*'>?!;<=!A9?;83A;!97!D3G=4
2A4!
&!!<;0#$&='0=030#$*'L'2*<=D=!38=!;<=!H38>9FD!M38;>AFG38!
D;>MFG3;>9?D!;<3;!:3K!J=!3I8==@!FM9?!JK!;<=!A9?;83A;>?I!
M38;>=D!>?!3!A9?;83A;N!*<=K!38=!A3GG=@!3AA>@=?;3G6!J=A3FD=!
;<=K!:3K!J=!M8=D=?;!98!3JD=?;6!@=M=?@>?I!FM9?!L<=;<=8!
98!?9;!;<=!M38;>=D!<3H=!3I8==@!FM9?!;<=:N4
!
!
2:M&3N=0*O!;<=!D;>MFG3;>9?!;9!M3K!A8=@>;V!;<=!D;>MFG3S
;>9?!;9!M3K!>?;=8=D;V!;<=!@=D>I?3;>9?!97!;<=!M38;>AFG38!MG3A=!
798!@=G>H=8K!98!M3K:=?;N4
D'E! =:-//.!!*-$.+,!+3!=+,$#-*$/
234! 5AA98@>?I!;9!N0%S0!$<"#'"%'S"%3&$<"#O
/0Q
!
58;N!XYZ/
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
X4!
!"#*0#*)&=' 2M=87=A;=@! JK! 30%0' !"#*0#$W' 0M&3N=0!
W!D3G=4
04!
%0&=' 2M=87=A;=@! JK! @=G>H=8KV! 0M&3N=0*' L' ;0N"*<$)3C'
N=0;V0C'!"33";&$)389',?%$9'4F4GC'A<@<='A";089
Y4!
S"%3&=! 98' *"=03#! 2;<9D=! L<=8=! DM=A>3G! 798:3G>;>=D!
38=! =DD=?;>3G! J=798=! ;<=! A9?;83A;! :3K! J=! M=87=A;=@4!
,:M&3N=0O! 5! @9?3;>9?! <#$0%' @<@"*! 97! 8=3G! M89M=8;K!
8=RF>8=D!798!>;D!H3G>@>;K!3!N)>=<!'<#*$%)30#$98
X1##-,+!<%!=1,$#-:!Y-,Z;!1$!-:%
MN'()&&;![15%!&V;!&RW(
!
!
[3?U! @=M9D>;D! 38=! >?! ;<=! ?3;F8=! 97! >88=IFG38!
@=M9D>;DN! *<=K! 38=! 8=3GGK! G93?D! J=A3FD=! ;<=K! =38?!
>?;=8=D;N! 5GG! U>?@D! 97! J3?U! @=M9D>;D6! L<=;<=8! !!P=@6!
D3H>?ID6! 98! AF88=?;6! 38=! ;9! J=! ;8=3;=@! 3D! G93?D! 3?@!
38=!;9!J=!A9H=8=@!JK!;<=!G3L!9?!G93?DN!)3>GF8=!97!;<=!
J3?U!;9!<9?98!;<=!;>:=!@=M9D>;!>D!73>GF8=!;9!M3K!>;D!
9JG>I3;>9?!3D!3!@=J;986!3?@!?9;!3!J8=3A<!97!;8FD;!38>DS
>?I!789:!3!@=M9D>;38KOD!73>GF8=!;9!8=;F8?!;<=!DFJE=A;!
:3;;=8!97!;<=!@=M9D>;N
2J4! 5AA98@>?I! ;9! !&)*0' 98! 0X)<@&=0#!0' "S' $/0' @&=)0' "S' N%0*$&6
$<"#*O
2A4!
X4!
"#0%")*'L'L<=8=!;<=8=!>D!3?!>?;=8A<3?I=!97!0X)<@&=0#$'
H3GF3JG=!A9?D>@=83;>9?
04!
V%&$)<$")*!98!=)!%&$<@0!W!;<>D!>D!)\((6!;<FD!9?=!M38;K!
8=A=>H=D!?9!=RF>H3G=?;!M8=D;3;>9?!=PA=M;!3!7==G>?I!;<3;!
9?=!<3D!J==?!I=?=89FD!98!G>J=83G
Y4!
%03)#0%&$<@0!W!29?=!L<=8=!9?=!M8=D;3;>9?!>D!I>H=?!798!
3!J=?=!!;!98!D=8H>A=!;<3;!<3@!J==?!8=?@=8=@!,\($#S
&T.%]4
5AA98@>?I! ;9! <3N"%$&#!0' "%' ;0N0#;0#!0' "S' "#0' )N"#' &#6
"$/0%O
X4!
N%<#!<N&='2<=8=6!;<=!A9?;83A;!:3K!D;3?@!3G9?=!JK!>;D=G7V!
0M&3N=0*O'D3G=D6!G=3D=4
04!
&!!0**"%T'2;<>D!@=M=?@D!798!>;D!=P>D;=?A=!FM9?!3?9;<=8!
A9?;83A;V! 0M&3N=0O! :98;I3I=4! 2+=8=! ;<=! M8>?A>M3G!
A9?;83A;!>D!9?=!97!%&5-N4
/YZ
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
Y4!
58;N!XYZ/
N%0N&%&$"%T' 2<=8=6! ;<=! M38;>=D! @9! ?9;! A9?D>@=8! ;<=!
A9?;83A;! 3D! 3?! =?@! JK! >;D=G76! JF;! 3D! 3! :=3?D! ;<8F!
L<>A<!7F;F8=!;83?D3A;>9?!98!A9?;83A;D!:3K!J=!:3@=V!
0M&3N=0*O'3I=?AK6!M38;?=8D<>M4
2@4! 5AA98@>?I!;9!;<=!N&%$<0*'">=<V&$0;O
X4!
)#<=&$0%&='^L<=8=!9?GK!9?=!97!;<=!M38;>=D!<3D!3?!9JG>S
I3;>9?V!0M&3N=0O'!"33";&$)3!2G>U=!;<=!J9889L>?I!97!
3!J>AKAG=4_
'
,PQR:O' (H=?! <=8=6! ;<=! V<@<#V' "S' !"#*0#$' :FD;! J=!
:F;F3G!98!><=&$0%&=98
04!
><=&$0%&=' ,98' *T#&=&V3&$<!8' 2<=8=6! J9;<! M38;>=D! 38=!
8=RF>8=@! ;9! 8=?@=8! 8=A>M89A3G! M8=D;3;>9?DV! 0M&3N=0O!
D3G=4
2=4! 5AA98@>?I!;9!;<=>8!#&30'98!;0*<V#&$<"#O
X4!
#"3<#&$0!W!2<=8=!;<=!A9?;83A;!>D!I>H=?!3!M38;>AFG38!98!
DM=A>3G!?3:=V!0M&3N=0*O!!"33";&$)36!M38;?=8D<>M6!
D3G=6!3I=?AK6!@=M9D>;4
!
!
UJ.,2+,-;!I#%!<%!=.$9![./*-:!+3!?-,.:MNQ(('';!"7#%!V;!&RWV
!
!
#7!9?=!9M=?D!3!;>:=!98!D3H>?ID!@=M9D>;!L>;<!3!J3?U6!;<=!
A9?;83A;!>D!9?=!97!D>:MG=!G93?!98!3)$))3C!?9;!3!A9?;83A;!97!
@=M9D>;N!&L?=8D<>M!97!;<=!@=M9D>;=@!7F?@D!>D!;83?D7=88=@!
;9!;<=!J3?U!789:!;<=!:9:=?;!;<=!A9?;83A;!>D!M=87=A;=@N
04!
274!
<##"3<#&$0' L' 23GD9! A3GG=@! !"#$%&$"*' <##"3<#&;"*8!
;<9D=! ?9;! I>H=?! 3?K! DM=A>3G! ?3:=V! 0M&3N=0O' (;"' )$'
;0*C+!:=3?>?I!B#!I>H=!;<3;!K9F!:3K!I>H=C4
5AA98@>?I!;9!;<=!%<*Y'"S'S)=!'==30#$O
X4!
!"33)$&$<@0!W!2<=8=!;<=!M38;>=D!A9?;=:MG3;=!3!%0&='
7FG!!GG:=?;V! ;<=8=798=6! =RF>H3G=?;! H3GF=D! 38=! I>H=?V!
0M&3N=0*O!D3G=6!G=3D=4
04!
&=0&$"%T'W!2<=8=!;<=!7FG!!GG:=?;!>D!@=M=?@=?;!FM9?!
!/&#!0W';<FD!;<=!H3GF=D!H38K!J=A3FD=!97!;<=!8>DU!98!
A<3?A=V!0M&3N=0O!3?!>?DF83?A=!A9?;83A;4
2I4! 5AA98@>?I!;9!;<=!$<30'"S'N0%S"%3&#!0'98'S)=!'==30#$O
/YX
!
58;N!XYZ/
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
X4!
0M0!)$0;!W!29?=!A9:MG=;=@!3;!;<=!;>:=!;<=!A9?;83A;!
>D!=?;=8=@!>?;96!;<3;!>D6!;<=!9JG>I3;>9?D!38=!A9:MG>=@!
L>;<!3;!;<>D!;>:=V!0M&3N=0O!3!D3G=!97!M89M=8;K!L<>A<!
<3D!3G8=3@K!J==?!@=G>H=8=@6!3?@!L<>A<!<3D!3G8=3@K!
J==?!M3>@!7984
!
'
,PQR:O! #?! ;<=! A3D=! 97! M=8D9?3G! M89M=8;K6! ;<>D!
8=DFG;D!>?!;3?I>JG=!M89M=8;K!>;D=G76!3!(!/"*0'<#'N"**0*6
*<"#9+8
04!
0M0!)$"%T'L'29?=!L<=8=!;<=!M8=D;3;>9?D!38=!;9!J=!A9:S
MG>=@!L>;<!3;!D9:=!7F;F8=!;>:=V!0M&3N=0O'3!M=87=A;=@!
D3G=6!L<=8=!;<=!M89M=8;K!<3D!#"$!K=;!J==?!@=G>H=8=@6!
3?@!L<=8=!;<=!M8>A=!<3D!?9;!K=;!J==?!I>H=?4!2#?!;<=!
:=3?;>:=6!;<=8=!>D!9?GK!3!(!/"*0'<#'&!$<"#9+4
'
'
,PQR:O'#7!;<=!L<9G=!98!3!M38;!97!;<=!M89M=8;K!
98!;<=!M8>A=!<3D!J==?!@=G>H=8=@6!;<=!A9?;83A;!:3K!J=!
D3>@!;9!J=!(N&%$<&==T'0M0!)$0;9+8
2<4! 5AA98@>?I!;9!*)>Z0!$'3&$$0%O
X4!
A9?;83A;D!>?H9GH>?I!$/<#V*!2G>U=!.5%(4
04!
A9?;83A;D!>?H9GH>?I!%<V/$*!98!!%0;<$*!2M89H>@=@!;<=D=!
38=!;83?D:>DD>JG=6!G>U=!3!A9?;83A;!97!)*)S%)!$C'98!&*6
*<V#30#$'"S'!%0;<$*4
Y4!
A9?;83A;D! >?H9GH>?I! *0%@<!0*! ^G>U=! 3I=?AK6! =0&*0' "S'
*0%@<!0*C!3!A9?;83A;!97!A9::9?!A388>3I=6!3!A9?;83A;!97!
A388>3I=!,*<3N=0'!&%%<&V08_
!
!
A-$.+,-:!T+61#!=+#7%!<%!@LA
US!OVW)Q;!A+<%!&V;!&RWQ
!
!
[?AR.O!-,"!3L38@=@!(#-!;<=!A9?;83A;!;9!@=S
G>H=8!A8F@=!DFG7F8!>?!9?=!D<>M:=?;!9?!98!J=798=!`3K!
XZ6!XQ/aN!5!J9?@!M9D;=@!JK!;<=!,#.!IF383?;==@!;<=!
9JG>I3;>9?N!(#-!9J;3>?=@!789:!-,"!3!G=;;=8!97!A8=@>;!
9?!`3K!16!XQ/aN!TM9?!8=RF=D;!97!(#-6!;<=!-,"!8=S
D=;!;<=!G=;;=8!97!A8=@>;!;9!bF?N!YZ6!XQ/aN!TM9?!(#-OD!
7F8;<=8!8=RF=D;6!;<=!-,"!=P;=?@=@!;<=!=PM>8K!@3;=!97!
;<=!G=;;=8!97!A8=@>;!;9!'=AN!YZ6!XQ/aN!&?!5FIN!XQ6!XQ/a6!
(#-!@=G>H=8=@!X6ZZZ!97!;<=!3I8==@!Y6aQX!G9?I!;9?D!97!
DFG7F8!9D;=?D>JGK!@F=!;9!G3AU!97!J9;;9:DN!-,"!DF=@!
/Y0
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZ/
(#-!798!@3:3I=DN!*<=!G9L=8!A9F8;!@>D:>DD=@!;<=!A3D=!
@=AG38>?I!;<3;!(#-!@>@!?9;!3A;!>?!J3@!73>;<N
!
2>4!
2E4!
'
\:]HO'*<=!=P;=?D>9?D!97!;<=!=PM>8K!@3;=!97!;<=!
G=;;=8! 97! A8=@>;! A3??9;! J=! >?;=8M8=;=@! 3D! =P;=?D>9?D!
97! @=G>H=8K! @3;=N! *<=8=! >D! ?9! 8=G3;>9?D<>M! J=;L==?!
@=G>H=8K! @3;=! 3?@! 9M=?>?I! 97! G=;;=8! 97! A8=@>;! L<>A<!
L3D!9M=?=@!L>;<>?!3!8=3D9?3JG=!;>:=!37;=8!;<=!D>I?>?I!
97!;<=!A9?;83A;N!-,"!<3D!J==?!G=?>=?;!JK!=P;=?@>?I!
;<=!=PM>8K!@3;=!97!;<=!G=;;=8!97!A8=@>;N!*<=!M89JG=:!97!
J9;;9:D!>D!L=GGSU?9L?!3?@!;<=!-,"!A3??9;!J=!73FG;=@!
798!DFA<!M89JG=:N!(#-!A9::>;;=@!3!J8=3A<!97!A9?;83A;!
JK!73>G>?I!;9!A9:MG=;=GK!@=G>H=8!9?!>;D!A9?;83A;N
5AA98@>?I! ;9! ">=<V&$<"#*' <3N"*0;' &#;' %0V&%;0;' >T' $/0'
=&UO
X4!
"%;<#&%T!W!2G>U=!D3G=V!;<=!G3L!A9?D>@=8D!;<>D!3D!3?!
"%;<#&%T'!"#$%&!$4
04!
<#*$<$)$<"#&=' L' ^G>U=! ;<=! A9?;83A;! 97! :388>3I=V! ;<=!
G3L!A9?D>@=8D!:388>3I=!3GD9!3D!3?!B>?H>9G3JG=!D9A>3G!
>?D;>;F;>9?NC!,?%$9'^IC'A<@<='A";089_
'
'
2PQR:O'T?@=8!58;N!XcZZ!97!;<=!">H>G!"9@=6!;<=!
G3L!D3KD!;<3;!B;<=!8=G3;>9?D!J=;L==?!A?_KR?]!3?@!
]?BQ2!38=!?9;!:=8=GK!A9?;83A;F3GN!*<=K!38=!D9!>:S
M8=DD=@!L>;<!MFJG>A!>?;=8=D;!;<3;!G3J98!A9?;83A;D!:FD;!
K>=G@!;9!;<=!A9::9?!I99@NC4
5AA98@>?I!;9!;<=!0@<;0#!0'%0X)<%0;'S"%'<$*'N%""SO
X4!
;<9D=!8=RF>8>?I!:=8=GK!"%&='98!N&%"=!=H>@=?A=
!
!
M-+!X+Z!<%!X-5-9/-5-9
US!Q&WRW;!"J2%!R;!&RW)
!
!
(H=?!3?!983G!A9?;83A;!>D!J>?@>?I!9?!;<=!M38;>=D6!
F?G=DD!798:!>D!=DD=?;>3G!798!>;D!H3G>@>;K!3?@!=?798A=S
3J>G>;KN!*<FD6!;<=!=:MG9K=8OD!977=8!;9!M3K!;<=!=:MG9KS
==OD!D=M383;>9?!M3K!>D!3!M=87=A;=@!A9?;83A;N
04!
;<9D=! 8=RF>8>?I! L8>;;=?! M8997! 20M&3N=0O! A9?;83A;D!
=?F:=83;=@!F?@=8!;<=!.;3;F;=!97!)83F@D4
2U4! 5AA98@>?I!;9!;<=!#)3>0%'"S'N0%*"#*'&!$)&==T'&#;'N/T*<!&==T'
0#$0%<#V'<#$"'$/0'!"#$%&!$*O
/YY
!
58;N!XYZ/
2G4!
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
X4!
"%;<#&%T' L' 2L<=8=! ;L9! M38;>=D! 38=! 8=M8=D=?;=@! JK!
@>77=8=?;!M=8D9?DV!0M&3N=0O'D3G=4
04!
&)$"6!"#$%&!$*!W!2L<=8=!9?GK!9?=!M=8D9?!8=M8=D=?;D!
;L9!9MM9D>;=!M38;>=D6!JF;!>?!;<SS0%0#$'A3M3A>;>=DV!0M6
&3N=0O! 3?! 3I=?;! 8=M8=D=?;>?I! <>D! M8>?A>M3G! D=GGD! 3!
DM=A>!!A!A38!;9!<>:D=G76!3D!3!JFK=84
!
'
`PQR:O!.FA<!3!A9?;83A;!>D!H3G>@6!798!;<=!G3L!@9=D!
?9;!=PM8=DDGK!M89<>J>;!D3:=!=PA=M;!>?!A=8;3>?!DM=A>!!=@!
A3D=DN!*<FD6!3?!3I=?;!L<9!<3D!J==?!3F;<98>e=@!;9!G=?@!
:9?=K!789:!<>D!M8>?A>M3G!!&##"$'>"%%"U'>;!L>;<9F;!;<=!
A9?D=?;!97!;<=!M8>?A>M3GV!JF;!>7!<=!<3D!J==?!=:M9L=8=@!
;9!J9889L!:9?=K6!<=!:3K!<>:D=G7!J=!;<=!G=?@=8!3;!;<=!
AF88=?;!83;=!97!>?;=8=D;N!,?%$9'457JC'A<@<='A";089a
5AA98@>?I!;9!;<=!#)3>0%'"S'N0%*"#*'U/"'N&%$<!<N&$0;'<#'$/0'
;%&S$<#V'"S'$/0'!"#$%&!$O
X4!
"%;<#&%T!W!2G>U=!3?!98@>?38K!D3G=4
04!
&' !"#$%&!$' "S' &;/0*<"#! 2G>U=! 9?=! M8=M38=@! JK! 3! 8=3G!
=D;3;=!A9:M3?K!798!;<=!D3G=!97!8=3G!=D;3;=V!98!9?=!M8=S
M38=@!JK!3?!>?DF83?A=!A9:M3?K4!2+=8=6!;<=!JFK=86!98!
;<=!M=8D9?!>?;=8=D;=@!>?!J=>?I!>?DF8=@6!D>I?>!!=D!<>D!
A9?D=?;!JK!D>I?>?I!;<=!A9?;83A;N!#7!<=!@9=D!?9;!@=D>8=!;9!
=?;=8!>?;9!;<=!A9?;83A;6!>;!>D!<>D!M8>H>G=I=!;9!8=7FD=N4
!
!
X611$!M.,1/;!L,*%!<%!Y1#,-#4+!B1<1/;!1$!-:%
MN'PP)(;!?-9!&R;!&RPW
!
!
[K!;<=!M=AFG>38!A>8AF:D;3?A=D!F?@=8!L<>A<!A9?S
;83A;D!97!3@<=D>9?!38=!=?;=8=@!>?;9!W!?3:=GK6!;<3;!>;!
>D!@837;=@!9?GK!JK!9?=!M38;K6!FDF3GGK!;<=!A98M983;>9?6!
3?@! >D! D9FI<;! ;9! J=! 3AA=M;=@! 98! 3@<=8=@! ;9! JK! ;<=!
9;<=8!M38;K6!>?!;<>D!>?D;3?A=!;<=!M3DD=?I=8D6!M8>H3;=!
8=DM9?@=?;D6!L<9!A3??9;!A<3?I=!;<=!D3:=!3?@!L<9!
38=! ;<FD! :3@=! ;9! 3@<=8=! <=8=;9! 9?! ;<=! B;3U=! >;! 98!
G=3H=!>;C!J3D>D!W!A=8;3>?!IF>@=G>?=D!>?!;<=!@=;=8:>?3S
;>9?!97!;<=>8!H3G>@>;K!3?@f98!=?798A=3J>G>;K!<3H=!J==?!
798:FG3;=@! >?! 98@=8! ;9! =?DF8=! ;<3;! EFD;>A=! 3?@! 73>8!
MG3K!A<383A;=8>e=!;<=!8=G3;>9?D<>M!97!;<=!A9?;83A;>?I!
M38;>=DN!#;!>D!3!:3;;=8!97!MFJG>A!U?9LG=@I=6!97!L<>A<!
/Yd
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZ/
L=!A3?!;3U=!EF@>A>3G!?9;>A=!^97_6!;<3;!;<=8=!>D!3!@=38;<!
3?@!3AF;=!D<98;3I=!97!>?;=8S>DG3?@!H=DD=GD!MGK>?I!J=S
;L==?!;<=!A9F;8KOD!D=H=83G!>DG3?@D6!3?@!;<=!73A>G>;>=D!
;<=K!977=8!G=3H=!:FA<!;9!J=!@=D>8=@N!*<FD6!=H=?!F?@=8!
98@>?38K!A>8AF:D;3?A=D6!;<=!M>=8D!38=!A9?I=D;=@!L>;<!
M3DD=?I=8D!3?@!;<=>8!A38I9!L3>;>?I!;9!J=!;83?DM98;=@N!
*<=!A9?@>;>9?D!38=!=H=?!L98D=!3;!M=3U!3?@f98!83>?K!
D=3D9?D6!L<=?!M3DD=?I=8D!G>;=83GGK!DA83:JG=!;9!D=AF8=!
L<3;=H=8! 3AA9::9@3;>9?D! ;<=K! :3K! 3H3>G! 976! =H=?!
;<89FI<!A>8AF>;9FD!89F;=D6!3?@f98!3;!;<=!8>DU!97!;<=>8!
D37=;KN!T?@=8!;<=D=!A>8AF:D;3?A=D6!>;!>D!<38@GK!EFD;!
3?@!M89M=8!;9!=PM=A;!;<=!M3DD=?I=8D!;9!=P3:>?=!;<=>8!
;>AU=;D! 8=A=>H=@! 789:! A89L@=@fA9?I=D;=@! A9F?;=8D6!
:98=!97;=?!;<3?!?9;6!@F8>?I!8FD<!<9F8D6!798!A9?@>;>9?D!
;<3;!:3K!J=!M8>?;=@!;<=8=9?6!:FA<!G=DD!A<38I=!;<=:!
L>;<!<3H>?I!A9?D=?;=@!;9!;<=!A9?@>;>9?D!D9!M8>?;=@6!
=DM=A>3GGK!>7!;<=8=!38=!3!?F:J=8!97!DFA<!A9?@>;>9?D!>?!
!!?=!M8>?;6!3D!>?!;<>D!A3D=N
!
!
#;!D<9FG@!3GD9!J=!D;8=DD=@!;<3;!D<>MM>?I!A9:M3S
?>=D!38=!783?A<>D=S<9G@=8D!97!A=8;>!!A3;=D!97!MFJG>A!A9?S
H=?>=?A=!3?@6!;<=8=798=6!M9DD=DD!3!H>8;F3G!:9?9M9GK!
9H=8!;<=!JFD>?=DD!97!;83?DM98;>?I!M3DD=?I=8D!J=;L==?!
;<=!M98;D!A9H=8=@!JK!;<=>8!783?A<>D=N!*<>D!J=>?I!D96!
D<>MM>?I!A9:M3?>=D!<3H=!3!H>8;F3G!:9?9M9GK!97!;<=!
JFD>?=DD! 97! ;83?DM98;>?I! M3DD=?I=8D! 3?@! :3K! ;<FD!
@>A;3;=! ;<=>8! ;=8:D! 97! M3DD3I=6! G=3H>?I! M3DD=?I=8D!
L>;<!?9!A<9>A=!JF;!;9!JFK!;<=>8!;>AU=;D!3?@!3H3>G!97!
;<=>8!H=DD=GD!3?@!73A>G>;>=DN!)>?3GGK6!EF@>A>3G!?9;>A=!:3K!
J=!;3U=?!97!;<=!73A;!;<3;!;<=!JFGU!97!;<9D=!L<9!J938@!
;<=D=!>?;=8S>DG3?@!H=DD=GD!A9:=!789:!;<=!G9LS>?A9:=!
I89FMD!3?@!38=!G=DD!G>;=83;=6!3?@!L<9!<3H=!G>;;G=!98!
?9!A<9>A=!JF;!;9!3H3>G!97!M=;>;>9?=8OD!H=DD=GDN
!
!
",21:1/!<%!=-:-/-,\
US!VOOW';!?-#%!&W;!&RW)
!
!
5!A9?;83A;!97!3@<=D>9?!>D!D9!A3GG=@!J=A3FD=!>;D!
M89H>D>9?D!38=!@837;=@!JK!9?GK!9?=!M38;K6!FDF3GGK!3!
A98M983;>9?6!3?@!;<=!9?GK!M38;>A>M3;>9?!97!;<=!9;<=8!
M38;K!>D!;9!D>I?!<>D!?3:=6!<>D!D>I?3;F8=!98!<>D!B3@<=S
/Y/
!
58;N!XYZ/
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
D>9?C! ;9! ;<=! A9?;83A;N! #?DF83?A=! A9?;83A;D6! J>GGD! 97!
G3@>?I6!A9?;83A;D!97!D3G=!97!G9;D!9?!>?D;3GG:=?;!MG3?!
73GG!>?;9!;<>D!A3;=I98KN!5!A9?;83A;!;9!D=GG6!@837;=@!3?@!
M8=M38=@! JK! ;<=! D=GG=8! 3?@! 977=8=@! 9?! 3! B;3U=S>;S98S
G=3H=S>;C!J3D>D!;9!;<=!JFK=8D6!L<96!J=>?I!;99!=3I=8!;9!
3ARF>8=!3!G9;!FM9?!L<>A<!;<=K!A9FG@!JF>G@!;<=>8!<9:=!
3?@! L>;<9F;! <3H>?I! <3@! ;<=! A<3?A=! ;9! RF=D;>9?! 98!
A<3?I=!3?K!97!;<=!;=8:D!97!;<=!3I8==:=?;6!3DD=?;=@!;9!
>;D!;=8:D!3?@!A9?@>;>9?D!3?@!37!!P=@!;<=>8!D>I?3;F8=D6!
<3D!D9:=!A<383A;=8>D;>AD!97!3!A9?;83A;!97!3@<=D>9?N
!
!
*<=! ;=8:D! 97! 3! A9?;83A;! 97! D3G=! L<>A<! <3D! ;<=!
A<383A;=8>D;>AD! 97! 3! A9?;83A;! 97! 3@<=D>9?! :FD;! J=!
A9?D;8F=@! 3?@! >?;=8M8=;=@! 3I3>?D;! ;<=! M38;K! L<9!
@837;=@! >;6! =DM=A>3GGK! >7! ;<=! >?;=8M8=;3;>9?! L>GG! <=GM!
=77=A;!EFD;>A=!;9!JFK=8D!L<96!37;=8!<3H>?I!>?H=D;=@!3!
J>I! 3:9F?;! 97! :9?=K6! 38=! D9FI<;! ;9! J=! @=M8>H=@! 97!
;<=!D3:=!;<89FI<!;<=!3MMG>A3;>9?!97!3!A9?;83A;6!AG=H=8!
>?!>;D!M<83D=9G9IK6!A9?@=:?3JG=!>?!>;D!G9MD>@=@?=DD!
3?@!>?EF8>9FD!>?!>;D!=77=A;!L<>A<6!>?!=DD=?A=6!3?@!>?!
>;D!=?;>8=;K6!>D!:9D;!F?73>8!;9!;<=!JFK=8DN
!
!
"#]J1#+!<%!^+,%![:+_+!-,4!S=TL
US!QW&&&;!H1*%!O(;!&RWW
'
'
[?AR.O!&?!-9HN!0c6!XQ1Y6!;<=!M=;>;>9?=8!3?@!M8>S
H3;=!8=DM9?@=?;!\3@>9!"9::F?>A3;>9?D!97!;<=!,<>GDN6!
#?AN!2\",#46!=?;=8=@!>?;9!3!A9?;83A;!798!D=8H>A=D!798!;<=!
;83?D:>DD>9?!97!3!;=G=I83M<>A!:=DD3I=!;<8F!\",#OD!
J83?A<!97!!A=!>?!5M388>6!"3I3K3?!;9!5;;KN!(G=3e38!.N!
"3G3D3?!3;!<>D!97!!A=!3@@8=DD!>?!gF>3M96!`3?>G3N!*<=!
;=P;!97!;<=!;=G=I83:!A9?;83A;!798:!798!;83?D:>DD>9?!
23D!L=GG!3D!;<=!;=G=I83:!>;D=G74!8=3@Dh
!
!
B.=?@!;<=!79GG9L>?I!:=DD3I=!DFJE=A;!;9!;<=!
A9?@>;>9?!;<3;!;<=!\",#!D<3GG!?9;!J=!G>3JG=!798!
3?K!@3:3I=6!<9LD9=H=86!D3:=!:3K!38>D=!=PA=M;!
798! ;<=! 8=7F?@! 97! ;=G=I83M<! ;9GGDN! *<=! D=?@=8!
3I8==D! ;<3;! 3! A9?@>;>9?! M8=A=@=?;! 798! 3! A3FD=!
97!3A;>9?!3I3>?D;!;<=!\",#!3?K!A9:MG3>?;!8=G3S
;>H=!;9!;<=!;83?D:>;;3G!97!;<>D!;=G=I83:!:FD;!J=!
/Ya
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZ/
J89FI<;!;9!;<=!3;;=?;>9?!97!;<=!A9:M3?K!L>;<>?!
;<8==!:9?;<D!789:!@3;=6!3?@!;<=!H=?F=!;<=8=97!
D<3GG!J=!>?!;<=!A9F8;D!97!gF=e9?!">;K!3G9?=!3?@!
>?!?9!9;<=8!A9F8;DN
!
!
!
5**]N!"5%5.5\&&`!dZX!,5]5i5%![%'jN
cZQ!,5*(\-&6!gT#5,&6!`5-#%5
!
!
"&-j\5*T%5*#&-.! ,\(,5\(! &-(!
k(\&k! "&,]! '("#.#&-! .((! ]&T! [&-#O.!
[#\*+'5]
[(\-&%#OO
!
!
5;;KN!(G=3e38!.N!"3G3D3?!8=A=>H=@!3!A9MK!97!;<=!
;=G=I83:!;<=!?=P;!@3K!JF;!<=!L3D!:3@=!;9!M3K!;<=!DF:!
97!,cNYZ!798!@=G>H=8K!A<38I=DN!*<=8=37;=86!9?!-9HN!YZ6!
XQ1Y6!3;!;<=!J>8;<@3K!M38;K!97!5DD;N!)>DA3G![9?>73A>9!
.>D9?!>?!gF=e9?!">;K6!5;;KN!"3G3D3?!A9?789?;=@!3?@!
A=?DF8=@!;<=!M=;>;>9?=8!3?=?;!;<=!D3>@!;=G=I83:N!'=S
DM>;=!;<=!M=;>;>9?=8OD!=PMG3?3;>9?!;<3;!;<=!;=G=I83:!
<3@!J==?!@FGK!M3>@!7986!<=!L3D!J83?@=@!3D!3!BD;>?IK!
`3K98!L<9!A3??9;!=H=?!37798@!;9!M3K!;<=!:=3DGK!DF:!
97!,cNYZ!798!;<=!;=G=I83:6C!>?!;<=!M8=D=?A=!97!:3?K!
M=8D9?DN!*<FD6!;<=!M=;>;>9?=8!!!G=@!3?!3A;>9?!798!@3:S
3I=D!3I3>?D;!\",#!J=798=!;<=!\=I>9?3G!*8>3G!"9F8;!97!
5M388>6!"3I3K3?N!\",#!!!G=@!3!:9;>9?!;9!@>D:>DD!9?!
;<=!I89F?@!97!>:M89M=8!H=?F=6!A9?;=?@>?I!;<3;!MF8S
DF3?;!;9!;<=!D=8H>A=!A9?;83A;6!;<=!M38;>=D!<3@!3I8==@!
;<3;!;<=!H=?F=!97!3?K!3A;>9?!L<>A<!:3K!38>D=!9F;!97!
;<=!;83?D:>;;3G!97!;<=!;=G=I83:!D<3GG!J=!>?!;<=!A9F8;D!
97!gF=e9?!">;K!3G9?=N
!
!
&?!)=JN!XY6!XQ1d6!;<=!;8>3G!A9F8;!@>D:>DD=@!;<=!
A3D=! 3?@! @=?>=@! ;<=! :9;>9?! 798! 8=A9?D>@=83;>9?! %0'
D3>@!@>D:>DD3GN!+=?A=6!;<=!>?D;3?;!M=;>;>9?N!">;>?I!;<=!
A3D=!97!.U00$']<#0*C'K#!9'@9'B0%#&%;"'R0@0*C'0$'&=9C'5F'
.A2?'FG46!;<=!M=;>;>9?=8!AG3>:D!;<3;!;<=!A9?@>;>9?!
L>;<!8=DM=A;!;9!H=?F=!3MM=38>?I!9?!;<=!8=3@K!M8>?;=@!
798:!97!\",#OD!;=G=I83:!798!;83?D:>DD>9?!>D!H9>@!3?@!
F?=?798A=3JG=!J=A3FD=!;<=!M=;>;>9?=8!<3@!?9!<3?@!>?!
/Yc
!
58;N!XYZ/
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
>;D!M8=M383;>9?N!*<=!A")%$';<=8=!<=G@!;<3;!A9?;83A;D!
97!3@<=D>9?!L<=8=!;<=!M89H>D>9?D!<3H=!J==?!@837;=@!
9?GK!JK!9?=!M38;K!3?@!;<=!9?GK!M38;>A>M3;>9?!97!;<=!
9;<=8!M38;K!>D!;<=!D>I?>?I!97!<>D!D>I?3;F8=!98!<>D!3@S
<=D>9?!;<=8=;96!38=!A9?;838K!;9!MFJG>A!M9G>AK6!3D!;<=K!
38=!>?EF8>9FD!;9!;<=!MFJG>A!98!MFJG>A!I99@N
!
'
\:]HO!*<=!3I8==:=?;!97!;<=!M38;>=D!>?!;<=!A3D=!
3;!J38!3D!;9!H=?F=!>D!?9;!A9?;838K!;9!G3L6!MFJG>A!98@=86!
MFJG>A!M9G>AK6!:983GD!98!I99@!AFD;9:DN!*<=!M38;>=D!@9!
?9! @>DMF;=! ;<3;! >?! ;<=! L8>;;=?! A9?;83A;! DF=@! FM9?6!
>;!L3D!=PM8=DDGK!D;>MFG3;=@!;<3;!3?K!3A;>9?!8=G3;>H=!
;9!;<=!;83?D:>;;3G!97!;<=!;=G=I83:!3I3>?D;!;<=!\",#!
:FD;!J=!J89FI<;!>?!;<=!"9F8;D!97!gF=e9?!">;K!3G9?=N!
i=!?9;=!;<3;!?=>;<=8!M38;K!;9!;<=!A9?;83A;!8=D=8H=@!
;<=!8>I<;!;9!A<99D=!;<=!H=?F=!97!3A;>9?!3D!!!P=@!JK!G3L6'
<909C!L<=8=!;<=!MG3>?;>77!98!@=7=?@3?;!8=D>@=D6!3;!;<=!
=G=A;>9?!97!;<=!MG3>?;>77!2.=AN!06!\FG=!d6!\FG=D!97!">H>G!
,89A=@F8=46!3D!>D!FDF3GGK!@9?=!>7!;<=!M38;>=D!MF8M98;=@!
;9!8=;3>?!;<3;!8>I<;!97!=G=A;>9?!I83?;=@!JK!;<=!\FG=DN!
.FA<! J=>?I! ;<=! A3D=6! >;! A3?! 8=3D9?3JGK! J=! >?7=88=@!
;<3;!;<=!M38;>=D!>?;=?@=@!;9!@=!!?>;=GK!!!P!;<=!H=?F=!97!
3A;>9?6!>?!A9??=A;>9?!L>;<!;<=!L8>;;=?!A9?;83A;!DF=@!
FM9?!>?!;<=!A9F8;D!97!gF=e9?!">;K!9?GKN!.=A;>9?!Y6!\FG=!
d6!\=H>D=@!\FG=D!97!"9F8;!D3?A;>9?D!DFA<!D;>MFG3;>9?!
JK!M89H>@>?I!;<3;!BJK!L8>;;=?!3I8==:=?;!97!;<=!M38;>=D!
;<=!H=?F=!97!3A;>9?!:3K!J=!A<3?I=@!98!;83?D7=88=@!
789:!9?=!M89H>?A=!;9!3?9;<=8NC!,B&)$<*$&'@9';0'B"%Z&C'
45'.A2?'-b-89
!
!
#?!;<=!>?D;3?;!A3D=6!;<=!A9?@>;>9?!L>;<!8=DM=A;!
;9!H=?F=!>?!;<=!;=G=I83:!798:!798!;83?D:>DD>9?!L3D!
M8>?;=@!AG=38GK!>?!;<=!FMM=8!789?;!M98;>9?!97!;<=!798:N!
"9?D>@=8>?I!;<=!M=;>;>9?=8OD!=@FA3;>9?3G!3;;3>?:=?;!
2J=>?I! 3! G3LK=8! JK! M897=DD>9?! 3?@! ;<=! `F?>A>M3G!
`3K98!97!.;3N!*=8=D>;36!"3I3K3?46!<=!:FD;!J=!A<38I=@!
L>;<! ?9;>A=! 97! ;<=! A9?@>;>9?! G>:>;>?I! ;<=! H=?F=! ;9!
gF=e9?!">;K6!3?@!JK!37!!P>?I!<>D!D>I?3;F8=!;<=8=9?6!
<=! D>I?>!!=@! <>D! 3DD=?;! ;<=8=;9N! *<FD6! ;<=! 8FG>?I! >?!
.U00$']<#0*C'K#!9'@9'R0@0*C'0$'&=9C!>D!?9;!3MMG>A3JG=!>?!
;<>D!A3D=N
/Y1
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZ/
!
!
!!!!YTL!@`7#1//!=-#4!=+#7%!<%!@44.1!=%!>:-:.!!!!US!&'&(WQ;!H1*%!&V;!O((&
!
'
[?AR.O' ,=;>;>9?=8! [,#! (PM8=DD! "38@! "98MN!
2[(""4!9M=83;=D!3!A8=@>;!A38@!DKD;=:!;<8F!L<>A<!>;!
=P;=?@D!A8=@>;!3AA9::9@3;>9?D!;9!>;D!A38@<9G@=8D!798!
;<=!MF8A<3D=!97!I99@D!3?@!9;<=8!D=8H>A=D!789:!:=:S
J=8S=D;3JG>D<:=?;D! 97! M=;>;>9?=8! ;9! J=! 8=>:JF8D=@!
G3;=8!JK!;<=!A38@<9G@=8!FM9?!M89M=8!J>GG>?IN
!
!
\=DM9?@=?;!(@@>=!"N!&G3G>3!L3D!3!A8=@>;!A38@S
<9G@=8! L>;<! 3! A8=@>;! G>:>;! 97! ,/6ZZZN! i<=?! &G3G>3OD!
A8=@>;!A38@!=PM>8=@6!3!8=?=L3G!A38@!L3D!>DDF=@N!5?!=PS
;=?D>9?!A38@!L3D!3GD9!>DDF=@!;9!&G3G>3OD!L>7=6!"8>D;>?3N!
*<=!=P;=?D>9?!A38@!97!"8>D;>?3!L3D!FD=@!798!MF8A<3D=D!
:3@=!789:!`38N!;9!5M8N!XQQX6!M38;>AFG38GK!>?!;<=!M89HS
>?A=!97!#G9>G9!3?@![3A9G9@!">;KN!*9;3G!F?M3>@!A<38I=D!
789:!;<=!FD=!97!;<>D!A38@!3:9F?;=@!;9!,XZX61ddN/dN!
&G3G>3!@=?>=@!<3H>?I!3MMG>=@!7986!:FA<!G=DD!8=A=>HS
>?I!;<=!=P;=?D>9?!A38@N!+=!7F8;<=8!3GG=I=@!;<3;!<>D!
L>7=6!789:!L<9:!<=!L3D!3G8=3@K!@>H98A=@6!G=7;!798!;<=!
T?>;=@!.;3;=D!>?!XQ1a!3?@!<3D!D>?A=!8=D>@=@!;<=8=N!
#?!3@@>;>9?6!?=>;<=8!<=!?98!"8>D;>?3!L3D!>?![3A9G9@!
98!#G9>G9!3;!;<=!;>:=!;<=!RF=D;>9?=@!MF8A<3D=D!L=8=!
:3@=N!+=!3@:>;;=@!8=DM9?D>J>G>;K!798!;<=!3:9F?;!97!
,XY611YN0c6!8=M8=D=?;>?I!MF8A<3D=D!:3@=!F?@=8!<>D!
9L?!A8=@>;!A38@N
!
!
5!A3D=!798!A9GG=A;>9?!L3D!!!G=@!3I3>?D;!&G3G>3N!*<=!
;8>3G!A9F8;!>?>;>3GGK!79F?@!&G3G>3!G>3JG=!798!;<=!3:9F?;!
97!,XY611YN0c!9?GKN!&?!:9;>9?!798!8=A9?D>@=83;>9?!!!G=@!
JK!M=;>;>9?=86!;<=!;8>3G!A9F8;!98@=8=@!&G3G>3!;9!M3K!;<=!
DF:!97!,XYa60QZNQcN!&?!3MM=3G6!;<=!"9F8;!97!5MM=3GD!
2"54!DFD;3>?=@!&G3G>3!3?@!:3@=!<>:!G>3JG=!798!9?GK!
,XY611YN0c!L>;<!>?;=8=D;!3;!Yl!M=8!:9?;<!>?!3@@>;>9?!
;9!3!M=?3G;K!7==!97!Yl!97!;<=!3:9F?;!@F=!=H=8K!:9?;<6!
F?;>G!7FGG!M3K:=?;N!+=?A=6!;<>D!M=;>;>9?N
!
'
\:]HO' ,=;>;>9?! >D! @=?>=@! 3?@! L>;<! ;<=! "5OD!
@=A>D>9?!J=>?I!37!!8:=@N!
!
!
"9?;83A;D!97!;<>D!?3;F8=!38=!A9?;83A;D!97!3@<=S
D>9?6!D9SA3GG=@!J=A3FD=!;<=>8!;=8:D!38=!M8=M38=@!JK!
/YQ
!
58;N!XYZ/
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
9?GK! 9?=! M38;K! L<>G=! ;<=! 9;<=8! :=8=GK! 37!!P=D! <>D!
D>I?3;F8=! D>I?>7K>?I! <>D! 3@<=D>9?! ;<=8=;9N! 5D! DFA<6!
;<=>8!;=8:D!38=!A9?D;8F=@!D;8>A;GK!3I3>?D;!;<=!M38;K!
L<9!@837;=@!>;N!#?!;<>D!A3D=6!>;!L3D![(""!L<9!:3@=!
;<=!798=I9>?I!D;>MFG3;>9?6!;<FD6!;<=K!38=!?9L!;3DU=@!
;9!D<9L!H>I>G3?A=!798!>;D!A9:MG>3?A=N
2:4! 5AA98@>?I!;9!;<=!#&$)%0!97!;<=!A9?;83A;h
X4!
M=8D9?3G
04!
>:M=8D9?3G
!
!
L,/J:-#!M.31!"//J#-,*1;!M$4%!<%!@5#-4+
W(!X=S"!&W&
!
!
*<=!A9?;83A;!97!G>7=!>?DF83?A=!>D!3?!=P3:MG=!97!3!
BM=8D9?3GC!A9?;83A;N!2*<>D!>D!J=A3FD=!FM9?!;<=!;0&$/!97!
;<=!>?DF8=@6!;<=!A9?;83A;!A=3D=D!;9!=P>D;N!#?@=:?>;>=D6!
>?!;<=!M89M=8!A3D=!L>GG6!97!A9F8D=6!J=!I>H=?N4
DVE! X$-21/!+3!-!=+,$#-*$
234! _%0N&%&$<"#',"%'A"#!0N$<"#'"%'(E0#0%&!<"#+8'L'+=8=!;<=!
M38;>=D!38=!M89I8=DD>?I!L>;<!;<=>8!?=I9;>3;>9?DV!;<=K!<3H=!
?9;!K=;!388>H=@!3;!3?K!@=!!?>;=!3I8==:=?;6!3G;<9FI<!;<=8=!
:3K!<3H=!J==?!3!M8=G>:>?38K!977=8!3?@!J38I3>?>?IN
2J4! _0%S0!$<"#',"%'><%$/8'L'+=8=!;<=!M38;>=D!<3H=!3;!G9?I!G3D;!
A3:=!;9!3!@=!!?>;=!3I8==:=?;6!;<=!=G=:=?;D!97!@=!!?>;=!DFJS
E=A;!:3;;=8!3?@!H3G>@!A3FD=!<3H=!J==?!3AA=M;=@!JK!:F;F3G!
A9?D=?;N
2A4!
A"#*)33&$<"#',"%';0&$/'"%'$0%3<#&$<"#8!W!+=8=!;<=!;=8:D!
97!;<=!A9?;83A;!38=!M=8798:=@6!3?@!;<=!A9?;83A;!:3K!J=!D3>@!
;9!<3H=!J==?!7FGGK!=P=AF;=@N
D)E! T-#$.1/!$+!-!=+,$#-*$
234! *<=!G3L!DM=3UD!97!3!:==;>?I!97!:>?@D!J=;L==?!;L9!BM=8S
D9?DNC!*<=!:==;>?I!97!;<=!:>?@D!8=3GGK!8=7=8D!;9!;L9!BM38S
;>=DNC!#7!3;!;<=!;>:=!97!DFMM9D=@!M=87=A;>9?6!9?=!97!;<=!M38;>=D!
<3@!3G8=3@K!M8=H>9FDGK!@>=@6!;<=8=!A3?!J=!?9!:==;>?I!97!;<=!
:>?@DV!<=?A=6!?9!A9?;83A;N!,A"%"#0='@9'Q#&C'FF'_/<=9'-^G89
/dZ
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZ/
!
!
?-#.071#.+!=+07-,.-!A-<.1#-;!X%"%!<%!="
US!V(O'V;!H1*%!&V;!&RWP
!
!
5!A9?;83A;!;3U=D!=77=A;!J=;L==?!;<=!M38;>=D!L<9!:3@=!
>;6!3?@!3GD9!;<=>8!3DD>I?D!3?@!<=>8D6!=PA=M;!>?!A3D=D!L<=8=!
;<=! 8>I<;D! 3?@! 9JG>I3;>9?D! 38>D>?I! 789:! ;<=! A9?;83A;! 38=!
?9;!;83?D:>DD>JG=!JK!;<=>8!?3;F8=6!98!JK!D;>MFG3;>9?6!98!JK!
M89H>D>9?!97!G3LN!.>?A=!3!A9?;83A;!:3K!J=!H>9G3;=@!JK!;<=!
M38;>=D!;<=8=;96!3D!3I3>?D;!=3A<!9;<=86!>?!3?!3A;>9?!FM9?!
;<3;!A9?;83A;6!;<=!8=3G!M38;>=D!>?!>?;=8=D;6!=>;<=8!3D!MG3>?;>77!
98!3D!@=7=?@3?;6!:FD;!J=!M38;>=D!;9!D3>@!A9?;83A;N!*<=8=798=6!
3!M38;K!L<9!<3D!?9;!;3U=?!M38;!>?!>;!A3??9;!DF=!98!J=!DF=@!
798!M=8798:3?A=!98!798!A3?A=GG3;>9?!;<=8=976!F?G=DD!<=!D<9LD!
;<3;!<=!<3D!3!8=3G!>?;=8=D;!377=A;=@!;<=8=JKN
!
!
!
!
Y-:.6-2!B#-,/.$;!L,*%!<%!="!-,4
X7+J/1/!X+$1#+!=-.:.7-,;!I#%!-,4
a1,-.4-!M+71\!-,4!U1+#21!M%!=-.:.7-,
US!W(VVP;!I-,%!'&;!&RWR
!
!
.>?A=!3!A9?;83A;!:3K!J=!H>9G3;=@!9?GK!JK!;<=!M38;>=D!
;<=8=;96! 3D! 3I3>?D;! =3A<! 9;<=86! >?! 3?! 3A;>9?! FM9?! ;<3;!
A9?;83A;6! ;<=! 8=3G! M38;>=DS>?S>?;=8=D;6! =>;<=8! 3D! MG3>?;>77!
98!3D!@=7=?@3?;6!:FD;!J=!M38;>=D!;9!D3>@!A9?;83A;N!5!8=3G!
M38;KS>?S>?;=8=D;SMG3>?;>77! >D! 9?=! L<9! <3D! 3! G=I3G! 8>I<;6!
L<>G=!3!8=3G!M38;KS>?S>?;=8=D;S@=7=?@3?;!>D!9?=!L<9!<3D!3!
A988=G3;>H=!G=I3G!9JG>I3;>9?!L<9D=!3A;!98!9:>DD>9?!H>9G3;=@!
;<=!G=I3G!8>I<;!97!;<=!798:=8N!#?!;<=!3JD=?A=!97!3?K!A9?;83A;!
97!A388>3I=!J=;L==?!;<=!A9::9?!A388>=8!3?@!;<=!M38=?;D!97!
;<=!>?EF8=@!M38;K6!;<=!G3;;=8!38=!?9;!8=3G!M38;>=DS>?S>?;=8=D;!
>?!3?!3A;>9?!798!J8=3A<!97!;<3;!A9?;83A;N
!
!
*<=! I=?=83G! 8FG=! 97! ;<=! A9::9?! G3L! >D! ;<3;! =H=8K!
3A;>9?!:FD;!J=!J89FI<;!>?!;<=!?3:=!97!;<=!>?78>?I=@N!)98!
;<=!>::=@>3;=!L89?I!3?@!@3:3I=6!;<=!M=8D9?!>?EF8=@!>D!
;<=!9?GK!9?=!L<9!A3?!:3>?;3>?!;<=!3A;>9?N!*<=!M=8D9?!L<9!
DFD;3>?D!3?!>?EF8K!>D!;<=!M=8D9?!;9!J8>?I!3?!3A;>9?!798!;<=!
>?EF8K!3I3>?D;!;<=!L89?I@9=8N
2J4! i<>G=!3!M89:>DD98K!?9;=!>D!)#<=&$0%&=!2>?!;<3;!9?GK!9?=!M38;K!
<3D!D>I?=@!>;!3?@!>D!J9F?@!;<=8=JK46!D;>GG!DFA<!3!A9?;83A;!
>?AGF@=D!;L9!M38;>=D!2;<=!@=J;98!3?@!;<=!A8=@>;984N!*<FD6!
/dX
!
58;N!XYZ/
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
;<=!D>I?=8!>D!?9;!;<=!9?GK!M38;K6!?98!;<=!9?GK!9?=!L<9!A3?!
DF=!9?!DFA<!3!A9?;83A;N!*<=8=!A3?!J=!#"'">=<V"%'U<$/")$'&#'
">=<V009',H<=&V'@9'\0<%*'"S'["%$)#&$"'20*)%%0!!<"#C'bG'_/<=9'
G^J89
2A4!
*<=!:==;>?I!97!;<=!:>?@D!:3K!38>D=!J=A3FD=!97!3?!0MN%0**'
98!<3N=<0;!3AA98@!2DFA<!3D!L<=?!D=8H>A=D!3D!3?!>?;=8M8=;=8!
3?@! IF>@=6! L<=;<=8! D9G>A>;=@! 98! ?9;6! L=8=! 3AA=M;=@! 3?@!
@FGK!8=?@=8=@V!<=8=6!3?!9JG>I3;>9?!;9!M3K!798!DFA<!D=8H>A=D!
=P>D;D4N!,.00'_0%01'@9'_"3&%C'I'_/<=9'G5I89
DQE! Y-/.*!T#.,*.7:1/!+#!=8-#-*$1#./$.*/!+3!-!=+,$#-*$
234! [%00;"3',"%'=<>0%$T8'$"'.$<N)=&$0!2M89H>@=@!?9;!A9?;838K!;9!
G3L6!:983GD6!I99@!AFD;9:D6!MFJG>A!98@=86!98!MFJG>A!M9G>AK4N!
,?%$9'4FJGC'A<@<='A";089
2J4! Q>=<V&$"%T' ["%!0' &#;' A"3N=<&#!0' K#' E"";' [&<$/9' ,?%$*9'
44^7'&#;''4F4^C'<;989
2A4!
_0%S0!$<"#'>T'c0%0'A"#*0#$',A"#*0#*)&=<$T8!3D!3!8FG=N!,?%$9'
4F4^C'<;989
2@4! B"$/'_&%$<0*'&%0'c)$)&==T'B")#;9',?%$9'4FJ5C'<;989
2=4! 20=&$<@0=T'2j=?=83GGK6!>;!>D!J>?@>?I!9?GK!J=;L==?!;<=!M38S
;>=D6!;<=>8!3DD>I?D6!3?@!<=>8D4N!,?%$9'4F44C'<;989
DPE! =+N1`./$1,*1!+3!-!=+,$#-*$!6.$8!-!bJ-/.NH1:.*$!DB+#$E
!
!
*<=!=P>D;=?A=!97!3!A9?;83A;!J=;L==?!;<=!M38;>=D!@9=D!?9;!
A9?D;>;F;=!3!J38!;9!;<=!A9::>DD>9?!97!3!;98;!JK!9?=!3I3>?D;!;<=!
9;<=86!3?@!;<=!A9?D=RF=?;!8=A9H=8K!97!@3:3I=DN!,?%&#0$&'@9';0'
D"T&C']6I^4bIC'c&T'I-C'47b-89
DWE! M12-:!@331*$/!+3!-!=+,$#-*$!c!^+6!H1$1#0.,14
!
!
!
"4+#-*.+,!@%!=#J\;!1$!-:%!<%!="!K
X7+J/1/!@:./1+!K!d.#2.,.-!?-:+:+/
US!&OQP&';!IJ:%!OP;!&RRW
!
!
"9?;83A;D! A9?D;>;F;=! ;<=! G3L! J=;L==?! ;<=! M38;>=DN! *<=K!
:FD;!J=!8=3@!;9I=;<=8!3?@!>?;=8M8=;=@!>?!3!:3??=8!;<3;!8=A9?S
/d0
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZ/
A>G=D!3?@!I>H=D!G>7=!;9!3GG!97!;<=:N!*<=!>?;=?;!97!;<=!M38;>=D6!3D!
D<9L?!JK!;<=!AG=38!G3?IF3I=!FD=@6!M8=H3>GD!9H=8!N"*$'S&!$"!=PS
MG3?3;>9?D!;<3;!!!?@!?9!DFMM98;!789:!;<=!L98@D!=:MG9K=@!JK!;<=!
M38;>=D!98!789:!;<=>8!A9?;=:M9838K!3?@!DFJD=RF=?;!3A;D!D<9L>?I!
;<=>8!F?@=8D;3?@>?I!97!DFA<!A9?;83A;DN!5!DFJD=RF=?;!3I8==:=?;!
A3??9;!?9H3;=!98!A<3?I=!JK!>:MG>A3;>9?!3!M8=H>9FD!9?=6!F?G=DD!
;<=!9G@!3?@!?=L!A9?;83A;D!38=6!9?!=H=8K!M9>?;6!>?A9:M3;>JG=!L>;<!
=3A<!9;<=8N
!
!
#?@==@6!;<=!G=I3G!=77=A;D!97!3!A9?;83A;!38=!@=;=8:>?=@!JK!
=P;83A;>?I!;<=!>?;=?;>9?!97!;<=!M38;>=D!789:!;<=!G3?IF3I=!;<=K!
FD=@!3?@!789:!;<=>8!A9?;=:M983?=9FD!3?@!DFJD=RF=?;!3A;DN!*<>D!
M8>?A>MG=!I3>?D!:98=!798A=!L<=?!;<>8@!M38;>=D!38=!A9?A=8?=@N!*9!
8=RF>8=!DFA<!M=8D9?D!;9!I9!J=K9?@!L<3;!>D!AG=38GK!L8>;;=?!>?!;<=!
@9AF:=?;!>D!F?73>8!3?@!F?EFD;N!*<=K!A3??9;!M9DD>JGK!@=GH=!>?;9!
;<=! A9?;83A;>?I! M38;>=DO! :>?@D! 3?@! DFDM=A;! ;<3;! D9:=;<>?I! >D!
3:>DD6!L<=?!;<=!G3?IF3I=!97!;<=!>?D;8F:=?;!3MM=38D!AG=38!3?@!
F?=RF>H9A3GN
DRE! H1:.<1#9!+3!$81!B8.,2
!
!
T1+7:1!<%!M-*-7
US!&'R&&V;!>*$%!O';!O((&
!
'
[?AR.O'5AAFD=@SD<3JF!DFMMG>=86!3!798:=8!:>G>;38K!97!!A=8!
;83>?=@! >?! ?38A9;>AD! 9M=83;>9?6! 3?;>S;=8898>D:6! 3?@! :>G>;38K!
;3A;>AD!@=?>=@!;<=!=P>D;=?A=!97!3?K!JFKSJFD;!9M=83;>9?6!3?@!3GS
G=I=@!;<3;!;<=!L<9G=!9M=83;>9?!L3D!3!783:=SFMN!*<=!G9L=8!A9F8;!
A9?H>A;=@!;<=!DFMMG>=8N!&?!3MM=3G6!<=!A9?;=?@=@!;<3;!;<=8=!L3D!
?9! 3A;F3G! @=G>H=8K! 97! ;<=! @8FI! ;9! ;<=! M9D=F8SJFK=86! ;<FD6! <=!
D<9FG@!J=!3ARF>;;=@!97!;<=!A<38I=!J=A3FD=!9?=!97!;<=!=G=:=?;D!97!
;<=!A8>:=!<3@!?9;!J==?!=D;3JG>D<=@N!*<=8=!38=!;L9!204!=G=:=?;D!
?=A=DD38K!798!;<=!M89D=AF;>9?!97!;<=!A8>:=!97!>GG=I3G!D3G=!97!D<3JF!
F?@=8!.=AN!X/6!58;N!###!97!\5!ad0/6!3D!3:=?@=@!JK!.=AN!0Z6!58;N!
#$!97!\5!ca/Q6!?3:=GKh!2X4!>@=?;>;K!97!JFK=8!3?@!D=GG=86!9JE=A;6!
3?@!A9?D>@=83;>9?V!3?@!204!@=G>H=8K!97!;<>?I!D9G@!3?@!M3K:=?;!
;<=8=798N!K**)0O'i3D!;<=!DFMMG>=8!A988=A;!>?!<>D!A9?;=?;>9?m
!
'
\:]HO'-9N!5G;<9FI<!;<=!DFMMG>=8!@>@!?9;!3A;F3GGK!<3?@!;<=!
A9?;83J3?@!;9!;<=!JFK=86!<=!MG3A=@!>;!9?!;9M!97!;<=!H3FG;!L<=8=!
;<=!G3;;=8!A9FG@!<3H=!=3D>GK!I9;;=?!>;!37;=8!M3K>?I!<>:N!*<=8=!
L3D6!;<FD6!3!A9?D;8FA;>H=!@=G>H=8K!97!;<=!@8FIN!*<=!73A;!;<3;!;<=!
/dY
!
58;N!XYZ/
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
DFMMG>=8!;8>=@!;9!MF;!;<=!D<3JF!J3AU!>?D>@=!;<=!H3FG;!>D!97!?9!
:9:=?;!3D!;<=!A8>:=!<3@!JK!;<=?!J==?!3G8=3@K!A9?DF::3;=@N!
*<=8=! >D! ?9! 8FG=! L<>A<! 8=RF>8=D! ;<3;! >?! 3! JFKSJFD;! 9M=83;>9?!
;<=8=!:FD;!J=!3!D>:FG;3?=9FD!=PA<3?I=!97!;<=!:9?=K!3?@!;<=!
@8FI!;<=!M9D=F8SJFK=8!3?@!;<=!MFD<=8N!-98!L3D!>;!>:M98;3?;!;<3;!
;<=!BJ99@G=C!:9?=K!L3D!?9;!M8=D=?;=@!>?!A9F8;N!i<3;!>D!:3;=8>3G!
;9!;<=!M89D=AF;>9?!97!;<=!>GG=I3G!D3G=!97!@3?I=89FD!@8FID!>D!M8997!
;<3;!;<=!;83?D3A;>9?!3A;F3GGK!;99U!MG3A=!L>;<!;<=!M8=D=?;3;>9?!
>?!A9F8;!97!;<=!!"%N)*';0=<!$<!98!;<=!DFJD;3?;>3G!73A;!;<3;!3!A8>:=!
<3D!J==?!A9::>;;=@N
D&(E! FS13+#1/$-$.+,G!=+,$#-*$
!
!
!
Y-$--,!X114:.,2!"//+*.-$.+,;!L,*%!<%!S17J5:.*!
+3!$81!T8.:.77.,1/!
US!&V&((R;!IJ:%!O;!O((O
!
'
[?AR.O!T?@=8!;<=!8=798=D;3;>9?!A9?;83A;6!M=;>;>9?=8D!L=8=!
;9!;F8?!9H=8!3;!;<=!=?@!97!;<=!;<>8@!K=38!;<=!M89E=A;!38=3!7FGGK!
MG3?;=@!3?@!M89M=8GK!:3>?;3>?=@N!+9L=H=86!;<=!,89E=A;!'=H=GS
9M:=?;!,G3?6!3MM=?@=@!3?@!:3@=!>?;=I83G!M38;!97!;<=!A9?;83A;6!
DM=A>!!A3GGK!@=!!?=D!3?@!@=;3>GD!M=;>;>9?=8DO!F?@=8;3U>?IN!T?@=8!
;<=!,G3?6!;<=!79GG9L>?I!;3DUD!L=8=!;9!J=!A9:MG=;=@!@F8>?I!;<=!
!!8D;!K=38!97!;<=!M89E=A;h
2X4! DF8H=K!3?@!:3MM>?I!97!;<=!L<9G=!/Z!<=A;38=DV
204! ?F8D=8K!9M=83;>9?D!798!73D;SI89L;<6!:=@>F:SI89L>?I6!3?@!
DG9LSI89L;<!DM=A>=DV
2Y4! MG3?;3;>9?!=D;3JG>D<:=?;6!>?AGF@>?I!D>;=!M8=M383;>9?6!DM9;!
<9=>?I6!D;3U>?I6!<9G>?I!6!3?@!MG3?;>?I!3?@!D==@!;83?DM98;S
>?I!97!1Y6YYY!M>=A=D6!:=@>F:SD>e=@!D==@G>?ID!3?@!DFAUG=8D!
>?!MG3?;>?I!<9G=DV!3?@
2d4! >?783D;8FA;F8=! L98U6! >?AGF@>?I! ;<=! @=H=G9M:=?;! 97! 799;!
M3;<6!I83@=@!;83>G6!MG3?;3;>9?!893@6!JF?U<9FD=6!3?@!G99US
9F;!;9L=8N
!
!
.M8=3@!9F;!@F8>?I!;<=!YSK=38!M=8>9@!>D!;<=!3??F3G!:3>?;=S
?3?A=6!M89;=A;>9?6!3@:>?>D;83;>9?!3?@!DFM=8H>D>9?6!3?@!:9?>;98S
>?I!3?@!=H3GF3;>9?!97!;<=!M89E=A;!38=3N!K**)0O!i<=;<=8!M=;>;>9?=8DO!
38IF:=?;!;<3;!;<=K!38=!?9;!J9F?@!;9!7FGGK!MG3?;f=D;3JG>D<!;<=!
/dd
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZa
L<9G=!/Z!<=A;38=D!@F8>?I!;<=!!!8D;!K=38!97!9M=83;>9?D!>D!:=8>;98>S
9FDm
!
'
\:]HO!*<=!38IF:=?;!>D!L>;<9F;!:=8>;N!"G=38GK6!J3D=@!9?!
D3>@!DA<=@FG=6!M=;>;>9?=8D!L=8=!;9!F?@=8;3U=!;<=!M8>?A>M3G!;3DU!
97!MG3?;>?I!;<=!/Z!<=A;38=SM89E=A;!38=3!@F8>?I!;<=!!!8D;!K=38!97!
;<=!M89E=A;N!i<3;!>D!;9!J=!A388>=@!9F;!@F8>?I!;<=!=?;>8=!YSK=38!
M=8>9@!>D!;<=!:3>?;=?3?A=!3?@!37;=8A38=!97!;<=!M89E=A;!D>;=6!3?@!
M=;>;>9?=8D!L=8=!;9!;F8?!9H=8!;<=!M89E=A;!3;!;<=!=?@!97!;<=!;<>8@!
K=38!7FGGK!MG3?;=@!3?@!=D;3JG>D<=@N
!
"#$%! &'(Q%! B81! *+,$#-*$.,2! 7-#$.1/! 0-9! 1/$-5:./8! /J*8!
/$.7J:-$.+,/;!*:-J/1/;!$1#0/!-,4!*+,4.$.+,/!-/!$819!0-9!4110!
*+,<1,.1,$;! 7#+<.414! $819! -#1! ,+$! *+,$#-#9! $+! :-6;! 0+#-:/;!
2++4!*J/$+0/;!7J5:.*!+#41#;!+#!7J5:.*!7+:.*9%!
=>??@ABC
D&E! B81!T#.,*.7:1!+3![#114+0
!
!
*<>D! 58;>AG=! D;8=DD=D! ;<=! M8>?A>MG=! 97! S%00;"39' *<=! 78==!
=?;83?A=!>?;9!A9?;83A;D!I=?=83GGK!L>;<9F;!8=D;83>?;!>D!9?=!97!;<=!
G>J=8;>=D!IF383?;==@!;9!;<=!M=9MG=N!,_0"N=0'@9'_"3&%C'-G'_/<=9'
--J89'+9L=H=86!;<=!A9?D;>;F;>9?3G!M89<>J>;>9?!3I3>?D;!;<=!>:M3>8S
:=?;!97!A9?;83A;F3G!9JG>I3;>9?D!8=7=8D!9?GK!;9!A9?;83A;D!L<>A<!
38=!G=I3G6!#"$';9!H9>@!98!>?=P>D;=?;!9?=DN!,.&#'H<0V"'@9'c)#9'"S'
P&)Z&#C']677IJC'[0>9'I7C'47GJ89
!
!
!
H1,.:-;!UJ5-$-,2-!-,4!L,-9-,!<%!Y1::+/.::+
MN'R)QR;!?-9!&Q;!&RP)
DM.$.2-,$/!?-9!@,$1#!L,$+!-!=+,$#-*$!+3!=+07#+0./1E
!
'
[?AR.O!*9!MF;!3?!=?@!;9!3!A3D=!M=?@>?I!J=798=!;<=!"9F8;!
97!5I838>3?!\=G3;>9?D!>?!#G9>G96!;<=!M38;>=D!;<=8=;9!2;<=![=3;=8>9!
@=G!.3?;>D>:9!\9D38>9!@=!`9G96!9L?=8!97!3!XYS<=A;38=!8>A=G3?@!
3?@!>;D!;=?3?;D6!'=?>G36!jFJ3;3?I36!3?@!#?3K3?4!=?;=8=@!>?;9!
3!EF@>A>3G!A9:M89:>D=!9?!5M8N!0d6!XQc0!L<=8=JK!;<=!G3?@9L?=8!
3I8==@!;9!A=@=!JK!L3K!97!"#$#%!%(5.(!2?9;!3I8>AFG;F83G!G=3D=!
98!G=3D=!;=?3?AK4!;9!;<=!G3;;=8!A=8;3>?!M38;D!97!;<=!G3?@!798!;L9!
3I8>AFG;F83G!K=38D6!L>;<!;<=!8=?;3GD!;<=8=798!J=>?I!DM=A>!!=@N!*<=!
A9?;83A;!3GD9!D;3;=@!;<3;!D<9FG@!;<=!8=?;!J=!F?M3>@6!;<=!G3?@S
9L?=8!L>GG!<3H=!;<=!8>I<;!;9!MF;!3?!=?@!;9!;<=!G=3D=!3?@!;9!3DU!
/d/
!
58;N!XYZa
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
798!3!L8>;!97!=P=AF;>9?!L<=8=JK!M9DD=DD>9?!L9FG@!J=!8=;F8?=@!
;9! ;<=! G3?@9L?=8N! [=A3FD=! ;<=! 8=?;! L3D! ?9;! M3>@6! G3?@9L?=8!
:9H=@!798!3!L8>;!97!=P=AF;>9?N!*=?3?;D!3GG=I=@!;<3;!>?!H>=L!97!
;<=!=P>D;=?A=!97!3!!<@<='=0&*06!;<=!5I838>3?!"9F8;!<3D!G9D;!EF8>DS
@>A;>9?!9H=8!;<=!A3D=6!3?@!<=?A=6!A3?!?9!G9?I=8!>DDF=!3!L8>;!97!
=P=AF;>9?6!3?@!;<3;!!!?3GGK6!;<=K!A3?!J=!=E=A;=@!789:!;<=!G3?@!9?GK!
>?!3?!F?G3L7FG!@=;3>?=8!DF>;!>?D;>;F;=@!>?!;<=!M89M=8!:F?>A>M3G!
A9F8;N!K**)0O''9=D!;<=!"5\!2"9F8;!97!5I838>3?!\=G3;>9?D4!D;>GG!
<3H=!EF8>D@>A;>9?!;9!>DDF=!;<=!L8>;!3MMG>=@!798m
!
'
\:]HO!]=D6!;<=!"5\!<3D!DFA<!EF8>D@>A;>9?N!.>?A=!98>I>?3GGK!
>;!<3@!EF8>D@>A;>9?!J=A3FD=!97!;<=!3I838>3?!A9?"!>A;6!D3>@!EF8>DS
@>A;>9?!!"#$<#)0*!F?;>G!;<=!A3D=!>D!!!?3GGK!=?@=@N!5?@!;<=!A3D=!
A3?!=?@!M8=A>D=GK!JK!;<=!>DDF3?A=!3?@!=?798A=:=?;!97!3!L8>;!97!
=P=AF;>9?! 23?! =?798A=:=?;! A9?;=:MG3;=@! JK! ;<=! M38;>=D4N! *<=!
A9:M89:>D=!3I8==:=?;!>D!3!A9?;83A;!J>?@>?I!9?!;<=!M38;>=D!3?@!
3?!3@:>DD>9?!JK!;<=:!97!;<=!EFD;!@=;=8:>?3;>9?!97!;<=>8!8>I<;DN!
[=>?I!=:J9@>=@!>?!3!A9F8;!EF@I:=?;6!>;!<3D!FM9?!;<=!M38;>=D!;<=!
=77=A;!3?@!3F;<98>;K!97!2:.'DdHKA?R?6!=?798A=3JG=!JK!3!L8>;!
97!=P=AF;>9?N!#?@==@6!;<=!"5\6!J=>?I!H=D;=@!L>;<!EF8>D@>A;>9?!;9!
8=?@=8!;<=!@=A>D>9?!J3D=@!9?!;<=!A9:M89:>D=!3I8==:=?;6!<3D!
;<=!M9L=8!3?@!3F;<98>;K!;9!=?798A=!>;!>?!;<=!D3:=!A3D=N!#;!>D!?9;!
8>I<;!798!3!M38;K!L<9!<3@!>?H9U=@!;<=!A9F8;OD!EF8>D@>A;>9?!>?!98S
@=8!;9!M89AF8=!3!M38;>AFG38!8=G>=7!;9!@=?K!37;=8L38@D!;<3;!D3:=!
EF8>D@>A;>9?!D9!3D!;9!3H9>@!3!L8>;!97!=P=AF;>9?N
!
!
!
=:-#.$-!B-,Z.-,2!X-,*81\!<%!=+J#$!
+3!"771-:/!K!T14#+!=#./$+5-:
MNOOQP);!IJ,%!OO;!&RWV
!
!
#7!;<=!9L?=8!97!3I8>AFG;F83G!G3?@!=?;=8D!>?;9!3!A>H>G!G3L!G=3D=!
L>;<!3!G=DD==6!3?@!;<=!G3;;=8!<>8=D!G3J98=8D6!;<=!G3J98=8D!A3??9;!
AG3>:!D=AF8>;K!97!;=?F8=!>7!;<=K!38=!@>D:>DD=@!JK!;<=!G=DD==N!*<=!
8=G3;>9?D<>M!>D!?9;!I9H=8?=@!JK!;<=!5I8>AFG;F83G!*=?3?AK!5A;!
JF;!JK!J9;<!;<=!G=3D=!A9?;83A;!3?@!;<=!M89H>D>9?D!97!;<=!">H>G!
"9@=N
DOE! M.0.$-$.+,/!+,!$81!A-$J#1!+3!$81!X$.7J:-$.+,/
234! ;<=!G3L
2J4! :983GD
/da
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZa
2A4! I99@!AFD;9:D
2@4! MFJG>A!98@=8
2=4! MFJG>A!M9G>AK
!
!
#?! ;<=! A3D=! 97! ?>0C' 0$' &=9' @9' ["*$0%' e/00=0%' A"%N"%&$<"#C'
0$'&=9C']64-b5^C'P"@9'I7C'47GJ'&#;']64-7IFC'P"@9'I7C'47GJC';<=!
3MM=GG3?;! A9:M3?>=D! A9?;=?@=@! ;<3;! 3D! ;<=! A9?;83A;D! 97! =:S
MG9K:=?;!L=8=!=?;=8=@!>?;9!3;!3!;>:=!L<=?!;<=8=!L3D!-&!G3L!
I83?;>?I!;<=!L98U=8D!9?=!:9?;<!M3K6!;<=!3MMG>A3;>9?!3D!;9!;<=:!
97!\5!XZ/0!%0*$"%<#V';<=!D3:=!8>I<;!A9?D;>;F;=D!3?!>:M3>8:=?;!
97!;<=>8!A9?;83A;F3G!9JG>I3;>9?DN!*<=8=!>D!?9!:=8>;!>?!;<>D!A9?S
;=?;>9?N!*<=!78==@9:!97!A9?;83A;!F?@=8!;<=!M8=D=?;!DKD;=:!97!
I9H=8?:=?;!>D!-&*!:=3?;!;9!J=!3JD9GF;=N!*<=!D3:=!>D!F?@=8S
D;99@!;9!J=!DFJE=A;!;9!8=3D9?3JG=!G=I>DG3;>H=!8=IFG3;>9?D!3>:=@!
3;!;<=!M89:9;>9?!97!MFJG>A!<=3G;<6!:983GD6!D37=;K6!3?@!L=G738=N!
#?!9;<=8!L98@D6!;<=!A9?D;>;F;>9?3G!IF383?;K!97!?9?S>:M3>8:=?;!
97!9JG>I3;>9?D!>D!G>:>;=@!JK!;<=!=P=8A>D=!97!;<=!M9G>A=!M9L=8!97!
;<=!.;3;=N!*<=!RF=D;>9?!;<=?!;9!J=!@=;=8:>?=@!>D!L<=;<=8!\5!
XZ/0!>D!3!8=IFG3;98K!:=3DF8=6!?9;!3!DFJD;3?;>H=!G3L6!D9!;<3;!>;D!
=?3A;:=?;!:3K!M89M=8GK!J=!A9?D>@=8=@!3!H3G>@!=P=8A>D=!97!M9G>A=!
M9L=8N!*<=!3?DL=8!>D!>?!;<=!&S!'%3&$<@0N!*<=!5A;!M8=DA8>J=D!;<=!
:3??=8!97!;=8:>?3;>?I!=:MG9K:=?;6!;<3;!>D6!L>;<9F;!3!!!P=@!98!
@=!!?>;=!M=8>9@!JK!8=RF>8>?I!;<=!=:MG9K=8!98!=:MG9K==6!J=798=!
;=8:>?3;>?I!DFA<!=:MG9K:=?;6!;9!?9;>7K!;<=!9;<=8!M38;K!97!DFA<!
73A;N!(H>@=?;GK6!;<=!MF8M9D=!>D!;9!I>H=!;<=!9;<=8!M38;K!9MM98;F?>;K!
;9!!!?@!8=MG3A=:=?;6!>?!;<=!A3D=!97!;<=!=:MG9K=86!3?@!3?9;<=8!
MG3A=!97!=:MG9K:=?;6!>?!;<=!A3D=!97!;<=!=:MG9K==N!*<=!8>I<;!;9!
J=!;<FD!?9;>!!=@!A3?!<38@GK!J=!A9?D>@=8=@!DFJD;3?;>H=N!*<=!3A;!
>D!:=8=GK!\(jT%5*&\]N
!
!
>*81,2*+!<%!=.$9!=+J#$!+3!a-05+-,2MNVVQ)P;!I-,%!&&;!&RW(
!
!
(H=?! F?@=8! ,'! 0Z! 28=IFG3;>?I! 8=?;3GD! 97! ,YZZ! 98! G=DD! 3!
:9?;<46!3!G=DD98!>D!3GG9L=@!;9!D=GG!<>D!G3?@!>?!A3D=!97!=P;8=:=!
?=A=DD>;K6!3D!L<=?!<=!>D!c/!K=38D!9G@6!D>AU6!?==@D!:9?=K!798!<>D!
>GG?=DD6!3?@!>D!E9JG=DDN!+=!>D!=P=:M;!789:!;<=!DFDM=?D>9?!@=A8==@!
>?!,'!0ZN!#?!73A;6!;<=!:9?;<GK!8=?;!<=8=!97!,/ZZ!>D!3!:=8=!M>;S
;3?A=6!3?@!;<=!G=3D=!:3K!J=!A9?D>@=8=@!3!I83;F>;9FD!9?=N![=D>@=D6!
;<=!G=DD==!>D!:FA<!J=;;=8!977!;<3?!;<=!G3;;=8!J=A3FD=!<=!2G=DD==4!
9L?D! 3! :FA<! J>II=8! G3?@! >?! ;<=! A>;KN! *<=! @=A8==! >D! M8=A>D=GK!
@=D>I?=@!;9!3GG=H>3;=!;<=!G>H>?I!A9?@>;>9?D!97!;<9D=!>?!?==@N
/dc
!
58;N!XYZa
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
D'E! M.0.$-$.+,/!L07+/14!59!M-6
234! *<=!A9?;83A;F3G!D;>MFG3;>9?D!:FD;!?9;!J=!A9?;838K!;9!3&#6
;&$"%T'3?@!N%"/<><$<@0'G3LDN!,?%$9'^C'A<@<='A";089!H<%0!$"%T'
3?@!*)NN=0$"%T'G3LD!?==@!?9;!J=!A9:MG>=@!L>;<6!D>?A=!;<=D=!
38=!=>;<=8!@>DA8=;>9?38K6!98!:=8=GK!DFMMGK!;<=!9:>DD>9?D!97!
;<=!M38;>=DN!,5'c&#%0*&'GIJ89
2J4! "9?;83A;D!:FD;!8=DM=A;!;<=!G3L6!798!;<=!G3L!798:D!M38;!97!;<=!
A9?;83A;N!#?@==@6!;<=!M89H>D>9?D!97!3GG!G3LD!38=!F?@=8D;99@!
;9!J=!>?A98M983;=@!>?!;<=!A9?;83A;N!,A"33<**<"#0%'"S'K#$9'
20@0#)0'@9'd#<$0;']<#0*'A"9C']64G5^JC'c&T'IJC'47GI8N!^*<FD6!
;<=!8>I<;!;9!"@0%$<30'!"3N0#*&$<"#!3?@!;9!L3I=D6!3G;<9FI<!
I83?;=@!JK!G3L6!>D!?=H=8;<=G=DD!<3N=<!<$=T'<#!=);0;'>?!=H=8K!
!"#$%&!$'"S'03N="T30#$V!3?@!;<=8=798=!;<=!M8=DA8>M;>H=!M=S
8>9@!>D!;<3;!M89H>@=@!798!!"#$%&!$*C'"%&='"%'U%<$$0#6!3D!;<=!
A3D=!:3K!J=6!3?@!?9;!;<=!M8=DA8>M;>H=!M=8>9@!798!=?798A>?I!
3!8>I<;!I>H=?!JK!G3LN!,[="%0*C'0$'&=9'@9'.&#'_0;%"C'0$'&=9C']6
5^5JC'.0N$9'FJC'47^b8N_
'
'
,PQR:O'*<>D!>D!L>;<9F;!M8=EF@>A=!;9!2?'47F98
!
!
S=TL!<%!="
US!VVPVW;!"J2%!OR;!&RWQ
!
!
#7!G>J=G9FD!:3;;=8D!38=!>?AGF@=@!>?!;<=!:=DD3I=!;83?DS
:>;;=@6!L>;<9F;!;<=!A9?D=?;!98!U?9LG=@I=!97!;<=!D=?@=86!
;<=!A9:M3?K!A9::>;D!3!J8=3A<!97!A9?;83A;N
2A4!
#?!3!:98;I3I=!A9?;83A;6!3!N&!$)3'!"33<**"%<)3'23!AG3FD=!
M89H>@>?I!;<3;!;<=!:98;I3I==!L>GG!3F;9:3;>A3GGK!9L?!;<=!
M89M=8;K! :98;I3I=@! >7! ;<=! @=J;! >D! ?9;! M3>@! 3;! :3;F8>;K4!
>D! ?FGG! 3?@! H9>@N! ,?%$9' IJ55C' A<@<=' A";0W' 5' c&#%0*&' GIJ6
GI489
'
2PQR:O'*<=!:98;I3I=!>;D=G76!<9L=H=86!8=:3>?D!H3G>@N4
2@4! %>U=L>D=6!3?!BFMD=;!M8>A=C!>D!#"$!3GG9L=@!>?!3!:98;I3I=!
A9?;83A;N!5?!FMD=;!M8>A=!>D!3!DM=A>!!=@!M8>A=!J=G9L!L<>A<!;<=!
:98;I3I=@!M89M=8;K!>D!?9;!DFMM9D=@!;9!J=!D9G@!3;!;<=!=P=AFS
;>9?!D3G=N!,e&%#0%C'B&%#0*'&#;'A"9'@9'D&)!<&#C'4F'_/<=9'-89
2=4! *<=!M38;>=D!;9!3!A9?;83A;!!&##"$!@=M8>H=!3!A9:M=;=?;!A9F8;!
97!>;D!EF8>D@>A;>9?6!J=A3FD=!Z)%<*;<!$<"#!>D!!!P=@!JK!G3L6!3?@!
?9;!JK!;<=!L>GG!97!;<=!M38;>=DN!,c"=<#&'@9'H0'=&'2<@&C'G'_/<=9'
4I89'+9L=H=86!@0#)06!98!;<=!MG3A=!L<=8=!;<=!3A;>9?!:3K!J=!
/d1
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZa
J89FI<;6!A3?!J=!;<=!DFJE=A;!97!D;>MFG3;>9?N!,2)=0'-C'.0!9'-C'
20@<*0;'2)=0*'"S'A")%$'&#;'A0#$%&='?1)!&%0%&'@9'H0']0"#C'
^G'_/<=9'4G789
!
!
!
!
T-:0-!<%!=-,.\-#1/
&!T8.:%!Q(O
!
'
[?AR.O!H'G9D;!>?!I3:JG>?I!3?@!3D!M3K:=?;6!=P=AF;=@!
3!M89:>DD98K!?9;=!>?!73H98!97!;<=!L>??=8!A9!A';<=?!3DD>I?=@!
;<=!?9;=!;9!?N!K**)0O'`3K!?!DFAA=DD7FGGK!8=A9H=8!789:!Hm
!
'
\:]HO' -96! J=A3FD=! ;<=! M89:>DD98K! ?9;=! >D! H9>@N!
bFD;!3D!;<=!L>??=8!A3??9;!8=A9H=86!D9!3GD9!A3??9;!;<=!3DS
D>I?==N
!
'
,PQR:O!#7!;<=!G9D=8!<3@!J9889L=@!:9?=K!789:!3!78>=?@!
;<8F!3!M89:>DD98K!?9;=6!D3>@!:9?=K!;9!J=!FD=@!;9!M3K!;<=!
L>??=86!;<=!M89:>DD98K!?9;=!>D!H3G>@!798!>;!L3D!#"$!;<=!8=DFG;!
97!I3:JG>?I!J=;L==?!;<=!G9D=8!3?@!;<=!78>=?@N!*<FD6!L<>G=!
3!L>??=8!>?!I3:JG>?I!A3??9;!8=A9H=86!3!78>=?@!L<9!G=?@D!
;<=!:9?=K!!&#'%0!"@0%98
!
!
!
!
!
!
!
!
*<=! A9?;83A;! 97! ;<=! M38;>=D! :FD;! A9?798:! L>;<! ;<=!
G3L!>?!798A=!3;!;<=!;>:=!;<=!A9?;83A;!L3D!=P=AF;=@N!.>?A=!
3;!;<=!;>:=!;<=!A9?;83A;D!L=8=!=?;=8=@!>?;9!;<=8=!L3D!3D!
K=;!?9!D;3;F;=!!!P>?I!3!A=>G>?I!9?!8=?;3GD!3?@!M89<>J>;>?I!
;<=!G=DD98!789:!@=:3?@>?I!3?!>?A8=3D=!;<=8=976!;<=!G=DD98!
<3@!;<=!8>I<;!;9!@9!D9N
=-5-$-,!<%!=+J#$!+3!"771-:/
MNVVWP)NPQ;!MNV)&Q(;!MNVQO&&N&O
I-,%!OO;!&RW(
DVE! M.0.$-$.+,/!L07+/14!59!?+#-:/
234! `983GD!@=3G!L>;<!8>I<;!3?@!L89?I!,.00'H0'="*'20T0*'@9'?="6
Z&;"C'4G'_/<=9'-778!3?@!L>;<!<F:3?!A9?DA>=?A=N!,K>&%%&'@9'
?@0T%"C'FF'_/<=9'IbF89
!
!
H1!:+/!S191/!<%!":+_-4+
&Q!T8.:%!VRR
!
'
[?AR.O!5!@=J;98!3I8==@!;9!L98U!3D!3!D=8H3?;!798!<=8!
A8=@>;98!i#*+&T*!,5]!F?;>G!D<=!A9FG@!!!?@!:9?=K!L>;<!
/dQ
!
58;N!XYZa
!
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
L<>A<! ;9! M3K! <=8! @=J;N! 57;=8! D9:=;>:=! D<=! G=7;! L>;<9F;!
M3K>?I6! D9! ;<=! A8=@>;98! >?D;>;F;=@! ;<>D! 3A;>9?! ;9! A9:M=G!
<=8!;9!M3K6!3?@!L98U!3D!3!D=8H3?;!L>;<9F;!M3K!n;>G!;<=!@=J;!
A9FG@!!!?3GGK!J=!M3>@N!*<=!@=J;986!9?!;<=!9;<=8!<3?@6!3DU=@!
M3K:=?;!798!D=8H>A=D!3G8=3@K!8=?@=8=@N
'
\:]HO! *<=! 3I8==:=?;! ;9! L98U! L>;<9F;! M3K! >D! >:S
:983G! 3?@! H9>@! D>?A=! ;<>D! L9FG@! 3:9F?;! ;9! >?H9GF?;38K!
D=8H>;F@=N!*<=!A8=@>;98!L3D!98@=8=@!;9!M3K!L3I=D!3?@!;9!
DFJ;83A;!;<=8=789:!;<=!3:9F?;!97!;<=!@=J;N
!
!
@01$1#.+!=J.!<%!"#1::-,+!e,.<1#/.$9
O!X=S"!O()
!
'
[?AR.O!5!D;F@=?;!L<9!<3@!!!?>D<=@!Y!Xf0!D=:=D;=8D!
>?!;<=!"9GG=I=!97!%3L!97!;<=!58=GG3?9!T?>H=8D>;K!$%&#*S0%%0;!
;9!3?9;<=8!G3L!DA<99G!798!<>D!G3D;!D=:=D;=8N!)98!;<=!Y!Xf0!
D=:=D;=8D!<=!D;3K=@!3;!;<=!58=GG3?9!T?>H=8D>;K6!<=!=?E9K=@!
3!*!/"=&%*/<NV!<=?A=6!L3D!?9;!8=RF>8=@!;9!M3K!7==DN!i<=?!<=!
D9FI<;!;83?D7=8!3?@!<>D!;83?DA8>M;!97!I83@=D6!<=!L3D!3DU=@!
;9!%0<3>)%*0!3GG!;<=!DA<9G38D<>M!7F?@D!D>?A=6!;<=!3I8==:=?;!
N%0!<*0=T'N%"@<;0;'S"%'&'%0S)#;'<#'!&*0'"S'$%&#*S0%9'K**)0O!#D!
DFA<!3!N%"@<*"!H3G>@m
!
'
\:]HO! *<=! N%"@<*"! >D! @"<;6! 3?@! A9?;83H=?=D! J9;<!
:983GD! 3?@! MFJG>A! M9G>AKN! .A<9G38D<>MD! D<9FG@! ?9;! J=!
M89M3I3?@3!:3;;=8V!;<=K!38=!3L38@D!798!:=8>;N!+=?A=6!;<=!
D;F@=?;!?==@!#"$!8=>:JF8D=N
!
!
L5-##-!<%!"<19#+
'P!T8.:%!OP'
!
!
5! M=?3G;K! AG3FD=! M89H>@>?I! 798! ;<=! M3K:=?;! 97! ,/!
798!=3A<!@3KOD!@=G3K!37;=8!;<=!:3;F8>;K!97!3!G93?!798!,da/!
L3D! <=G@! >::983G! >?=RF>;3JG=6! D<9AU>?I! ;9! ;<=! <F:3?!
A9?DA>=?A=6!3?@!H9>@N
!
!
Y-$-##-!<%!?-#*+/
P!T8.:%!&)Q
!
!
5!M89:>D=!97!:388>3I=!J3D=@!9?!3!!&%#&='A9?D>@=83;>9?!
>D!>::983G!3?@6!;<=8=798=6!H9>@N
//Z
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZa
!
!
U+#+/71;!1$!-:%!<%!U+*8-,2*+
MN&OP');!>*$%!'(;!&R)R
!
!
(PA=DD>H=! 98! F?8=3D9?3JG=! 3;;98?=KOD! 7==D! =H=?! >7!
D;>MFG3;=@!>?!3!A9?;83A;!:FD;!J=!8=@FA=@6!798!3!G3LK=8!>D!
M8>:38>GK!3!A9F8;!97!!A=86!DFJE=A;!;9!EF@>A>3G!A9?;89GN
!
!
!
X-$J#,.,+!X1:-,+<-!<%!":1_-,4#+!@%
?1,4+\-;!"40%!?-$$1#NW(VN=I
?-9!&R;!&RP)
!
'
[?AR.O' 5! EF@I=! 23?@! ?9;38K! MFJG>A4! M8=M38=@! 3?@!
83;>!!=@!3!@9AF:=?;!@3;=@!-9HN!0X6!XQc06!=<X)<;&$<#V'0M$%&6
Z);<!<&==T'&'!"#Z)V&='N&%$#0%*/<N!3?@!3GG9L>?I!;<=!:388>=@!
A9FMG=!!A9?A=8?=@!$"'U&<@0'$/0<%'%<V/$'$"'N%"*0!)$0'0&!/'"$/0%'
S"%'S)$)%0'&!$*'"S'<#!';0=<$T9'K**)0O'58=!D3>@!D;>MFG3;>9?D!>?!
;<=!MFJG>A!>?D;8F:=?;!A9?D>@=8=@!H3G>@m
!
'
\:]HO! [9;<! D;>MFG3;>9?D! 38=! A9?;838K! ;9! G3L6! I99@!
AFD;9:D6!:983GD6!3?@!MFJG>A!M9G>AK6!3?@!;<=!?9;38>e>?I!97S
!!A>3G!A3?!;<=8=798=!J=!MF?>D<=@!3@:>?>D;83;>H=GKN
!
!
i<>G=!>;!>D!;8F=!;<3;!>?!]&!*"#'@9'.&#'D"*06]&!*"#C'
]6IF-5IC']6IFbGbC'&#;']6I-I^7C'?)V9'FJC'47G5C'I-'.A2?'
5FbC!DFA<!3?!=P;83EF@>A>3G!3I8==:=?;!798!@>DD9GF;>9?!A3?!J=!
:3@=!@F8>?I!;<=!:388>3I=6!D;>GG!;<=!EF@>A>3G!D3?A;>9?!:FD;!
J=!9J;3>?=@![()&\(+5-'6!?9;!DFJD=RF=?;GKN
!
!
*<=!G>A=?D=!I>H=?!;9!=>;<=8!DM9FD=!;9!A9::>;!3?K!3A;!
97!>?!!@=G>;K!L3D6!>?!=77=A;6!3!83;>!!A3;>9?!97!;<=>8!M=8D9?3G!
D=M383;>9?! 3?@6! ;<=8=798=6! 3! H>9G3;>9?! 97! 58;N! 00X! 97! ;<=!
">H>G!"9@=!M89<>J>;>?I!A9?;83A;D!798!BM=8D9?3G!D=M383;>9?6!
J=;L==?! <FDJ3?@! 3?@! L>7=C! 23?@! 798! =H=8K! =P;83EF@>A>3G!
3I8==:=?;!798!;<=!@>DD9GF;>9?!97!;<=!A9?EFI3G!M38;?=8D<>M!
98! 97! ;<=! 3JD9GF;=! A9::F?>;K! 97! M89M=8;K! J=;L==?! ;<=!
<FDJ3?@!3?@!;<=!L>7=4N
!
!
!
!
MM!-,4!=+07-,9!H1<1:+701,$!-,4!"2#+NL,4J/$#.-:!
=+#7%!<%!^J-,2!=8-+!=8J,!-,4!f-,2!BJ,2![-!
US!&VO'PW;!?-#%!P;!O((O
'
[?AR.O',=;>;>9?=8!38IF=D!;<3;!8=DM9?@=?;D!D<9FG@!
J=!=E=A;=@!798!?9?SM3K:=?;!97!;<=!?=L!8=?;3G!83;=DN!*<3;!
//X
!
58;N!XYZa
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
>D6!;<=!:9?;<GK!8=?;3G!>D!DFJE=A;!;9!>?A8=3D=N!.3>@!>?A8=3D=!
D<3GG!J=!J3D=@!FM9?!;<=!>:M9D>;>9?!97!\=3G!(D;3;=!*3P!798!
=H=8K!;L9!K=38D!FM9?!M8=D=?;3;>9?!97!;<=!>?A8=3D=@!8=3G!
=D;3;=!;3P!;9!;<=!G=DD==D6!JF;!D3>@!>?A8=3D=!D<3GG!?9;!J=!G=DD!
;<3?!0/lN
!
!
\=DM9?@=?;D6! FM9?! ;<=! 9;<=8! <3?@6! A9F?;=8! ;<3;!
;<=K!@>@!?9;!3I8==!;9!;<=D=!?=L!83;=DN!*<=!798:=8!@=?>=@!
M=;>;>9?=8OD!3GG=I3;>9?D6!AG3>:>?I!>?D;=3@!;<3;!;<=>8!73>GF8=!
;9!M3K!;<=!:9?;<GK!8=?;3GD!9?!;<=!M89M=8;K!L3D!@F=!;9!M=S
;>;>9?=8OD!73FG;!L<=?!>;!3;;=:M;=@!;9!>?A8=3D=!;<=!3:9F?;!
97!8=?;!>?!H>9G3;>9?!97!;<=>8!A9?;83A;N
!
'
\:]HO!5!F?>G3;=83G!>?A8=3D=!>?!;<=!8=?;3G!83;=!A3?S
?9;!J=!3F;<98>e=@!A9?D>@=8>?I!;<3;h!2X4!;<=!9M;>9?!;9!8=?=L!
>D!8=A>M89A3G!3?@6!;<FD6!;<=!;=8:D!3?@!A9?@>;>9?D!;<=8=97!
W!>?AGF@>?I!;<=!8=?;3G!83;=!oo!:FD;!G>U=L>D=!J=!8=A>M89S
A3GV!3?@!204!;<=!A9?;83A;=@!AG3FD=!3F;<98>e>?I!3?!>?A8=3D=!
oo!BFM9?!M8=D=?;3;>9?!97!;<=!>?A8=3D=@!8=3G!=D;3;=!;3P!;9!
G=DD==DC!oo!<3D!?9;!J==?!A9:MG>=@!L>;<6!>?!;<=!>?D;3?;!A3D=6!
JK!M=;>;>9?=8N
!
!
5! D;>MFG3;>9?! >?! 3! G=3D=! A9?;83A;! D;3;>?I! ;<3;! >;! >D!
DFJE=A;! ;9! B3?! 9M;>9?! ;9! 8=H>=LC! D<3GG! J=! >?;=8M8=;=@! ;9!
J=!8=A>M89A3G!>?!A<383A;=8N!T?G=DD!;<=!G3?IF3I=!D<9LD!3?!
>?;=?;!;9!3GG9L!;<=!G=DD==!;9!=P=8A>D=!>;!F?>G3;=83GGK6!DFA<!
9M;>9?!D<3GG!J=!@==:=@!;9!J=?=!!;!>"$/';<=!G=DD98!3?@!;<=!
G=DD==!L<9!:FD;!>"$/!A9?D=?;!;9!;<=!=P;=?D>9?!98!8=?=L3G6!
3D!L=GG!3D!;9!>;D!DM=A>!!A!;=8:D!3?@!A9?@>;>9?DN
!
!
#?!;<=!>?D;3?;!A3D=6!;<=8=!L3D!?9;<>?I!>?!;<=!3798=D3>@!
D;>MFG3;>9?!98!>?!;<=!3A;F3;>9?!97!M38;>=D!;<3;!D<9L=@!;<=K!
>?;=?@=@!3?!3F;9:3;>A!8=?=L3G!98!=P;=?D>9?!97!;<=!;=8:!97!
;<=!A9?;83A;N!*<FDh
XN!
'=:9?D;83;>?I! M=;>;>9?=8OD! @>D>?;=8=D;! >?! 8=?=LS
>?I!;<=!A9?;83A;!L3D!>;D!G=;;=8!@3;=@!5FIN!0Y6!XQQa6!
@=:3?@>?I! ;<3;! 8=DM9?@=?;D! H3A3;=! ;<=! M8=:>D=D!
798!73>GF8=!;9!M3K!8=?;3GD!D>?A=!XQQYN!5D!3!8FG=6!;<=!
9L?=8SG=DD98! <3D! ;<=! M8=89I3;>H=! ;9! ;=8:>?3;=! ;<=!
G=3D=!FM9?!>;D!=PM>83;>9?N!,f;&9';0'2"M&*'@9'A?C'GF'
.A2?'FJI'`47b^a89
0N!
#?!;<=!M8=D=?;!A3D=6!;<=!@>D3I8==:=?;!97!;<=!M38;>=D!
9H=8!;<=!>?A8=3D=@!8=?;3G!83;=!3?@!M8>H3;=!8=DM9?@=?;D!
//0
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZa
73>GF8=!;9!M3K!>;6!M8=AGF@=@!;<=!M9DD>J>G>;K!97!3!:F;F3G!
8=?=L3GN
YN!
*<=!73A;!;<3;!;<=!G=DD98!3GG9L=@!;<=!G=DD==!;9!>?;89S
@FA=!>:M89H=:=?;D!9?!;<=!M89M=8;K!L3D!>?@>A3;>H=6!
?9;!97!;<=!798:=8OD!>?;=?;>9?!;9!=P;=?@!;<=!A9?;83A;!
3F;9:3;>A3GGK!,B)!0'@9'A?C'FFI'.A2?'4^4'`IJJJa8C!JF;!
:=8=GK!97!>;D!9J=@>=?A=!;9!>;D!=PM8=DD!;=8:D!3GG9L>?I!
;<=!>:M89H=:=?;DN!57;=8!3GG6!3;!;<=!=PM>83;>9?!97!;<=!
G=3D=6!;<9D=!>:M89H=:=?;D!L=8=!;9!BJ=A9:=!>;D!M89MS
=8;KNC
!
!
5D!;9!;<=!A9?;=?;>9?!;<3;!>;!>D!?9;!73>8!;9!=E=A;!8=DM9?@S
=?;D!789:!;<=!M8=:>D=D!37;=8!9?GK!/!K=38D6!A9?D>@=8>?I!;<=!
H3GF=!97!;<=!>:M89H=:=?;D!;<=K!>?;89@FA=@!;<=8=>?6!DF7!!A=!
>;!;9!D3K!;<3;!;<=K!@>@!D9!L>;<!U?9LG=@I=!97!;<=!8>DU!o!;<=!
A9?;83A;!<3@!MG3>?GK!M89H>@=@!798!3!/SK=38!G=3D=!M=8>9@N
!
!
,38;>=D!38=!78==!;9!=?;=8!>?;9!3?K!A9?;83A;F3G!D;>MFG3S
;>9?6!M89H>@=@!>;!>D!?9;!>GG=I3G!98!A9?;838K!;9!MFJG>A!:983GDN!
i<=?!DFA<!3I8==:=?;6!78==GK!3?@!H9GF?;38>GK!=?;=8=@!>?;96!
;F8?!9F;!;9!J=!@>D3@H3?;3I=9FD!;9!3!M38;K6!A9F8;D!A3??9;!
8=DAF=!>;!L>;<9F;!A89DD>?I!;<=!A9?D;>;F;>9?3G!8>I<;!;9!A9?S
;83A;N! *<=K! 38=! ?9;! 3F;<98>e=@! ;9! =P;8>A3;=! M38;>=D! 789:!
;<=!?=A=DD38K!A9?D=RF=?A=D!97!;<=>8!3A;D6!3?@!;<=!73A;!;<3;!
;<=!A9?;83A;F3G!D;>MFG3;>9?D!:3K!;F8?!9F;!;9!J=!!!?3?A>3GGK!
@>D3@H3?;3I=9FD!L>GG!?9;!8=G>=H=!;<=!G3;;=8!97!;<=>8!9JG>I3S
;>9?DN!,R"%%0*'@9'A?C'FIJ'.A2?'-FJ'`4777a89
D)E! M.0.$-$.+,/!L07+/14!59!U++4!=J/$+0/
!
!
j99@!AFD;9:D!38=!;<9D=!;<3;!<3H=!8=A=>H=@!798!3!M=8>9@!97!
;>:=!M83A;>A3G!3?@!D9A>3G!A9?!!8:3;>9?N!5AA98@>?I!;9!;<=!"9@=!
"9::>DD>9?6!I99@!AFD;9:D!3?@!:983GD!B9H=8G3M!=3A<!9;<=8V!JF;!
D9:=;>:=D!;<=K!@9!?9;NC!,A"33<**<"#'20N"%$C'N9'4F-89
DQE! M.0.$-$.+,/!L07+/14!59!TJ5:.*!>#41#
234! ,FJG>A! 98@=8! @=3GD! L>;<! ;<=! MFJG>A! U0&=' ,B")V/' @9' A&#6
$<@0%"*C'-J'_/<=9'IJ78C'3?@!>?AGF@=D!MFJG>A!D37=;KN!,20N"%$'
"S'$/0'A";0'A"33<**<"#C'N9'4F-89
//Y
!
58;N!XYZa
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
!
!
d.::-,J1<-!<%!=-/$-g14-;!I#%
US!Q&'&&;!X17$%!O&;!&RWP
!
!
(H=8K!A9?;83A;!377=A;>?I!MFJG>A!>?;=8=D;!DF77=8D!3!A9?S
I=?>;3G!>?!!8:>;K!>?!;<3;!>;!A9?;3>?D!3?!>:MG>=@!8=D=8H3;>9?!
97!;<=!M9G>A=!M9L=8!3D!3!M9D;FG3;=!97!;<=!=P>D;>?I!98@=8N!*<>D!
M9L=8!A3?!J=!3A;>H3;=@!3;!3?K!;>:=!;9!A<3?I=!;<=!M89H>S
D>9?D!97!;<=!A9?;83A;6!98!=H=?!3J89I3;=!>;!=?;>8=GK6!798!;<=!
M89:9;>9?!98!M89;=A;>9?!97!;<=!I=?=83G!L=G738=N!.FA<!3A;!
L>GG!?9;!:>G>;3;=!3I3>?D;!;<=!>:M3>8:=?;!AG3FD=6!L<>A<!>D!
DFJE=A;!;9!3?@!G>:>;=@!JK!;<=!M383:9F?;!M9G>A=!M9L=8N
2J4! _)>=<!'"%;0%'3D!FD=@!>?!;<=!9G@!">H>G!"9@=!L3D!*T#"#T3")*!
L>;<!MFJG>A!M9G>AKN!,[0%%&11<#<'@9'E*0==C'F-'_/<=9'G7b89
DPE! M.0.$-$.+,/!L07+/14!59!TJ5:.*!T+:.*9
234! ,FJG>A! M9G>AK6! L<>A<! H38>=D! 3AA98@>?I! ;9! ;<=! AFG;F8=! 97! 3!
M38;>AFG38!A9F?;8K6!>D!;<=!BMFJG>A6!D9A>3G!3?@!G=I3G!>?;=8=D;!
>?!M8>H3;=!G3LNC!,[0%%&11<#<'@9'E*0==C'F-'_/<=9'G7b89'#;!>D!D3>@!
;9!J=!;<=!:3?>7=D;!L>GG!97!3!.;3;=N
2J4! 5!A9?;83A;!>D!A9?;838K!;9!MFJG>A!M9G>AK!>7!>;!B<3D!3!;=?@=?AK!
;9!>?EF8=!;<=!MFJG>A6!>D!3I3>?D;!;<=!MFJG>A!I99@6!98!A9?;83S
H=?=D!D9:=!=D;3JG>D<=@!>?;=8=D;!97!D9A>=;K6!98!>D!>?A9?D>D;S
=?;!L>;<!D9F?@!M9G>AK!3?@!I99@!:983GD6!98!;=?@D!AG=38GK!;9!
F?@=8:>?=!;<=!D=AF8>;K!97!>?@>H>@F3GOD!8>I<;DNC!,E&>%<0='@9'
c"#$0';0'_<0;&;C'b4'_/<=9'^JJ89
2A4!
(P3:MG=D! 97! 3I8==:=?;D! L<>A<! 38=! A9?;838K! ;9! MFJG>A!
M9G>AKh
X4!
;<9D=!@=?K>?I!3AA=DD!;9!;<=!A9F8;DN!,c&#<=&':=0!$%<!'
A"9'@9'_&*&T'R%&#*N"%$&$<"#C'^b'_/<=9'GJF89
04!
;<9D=!L<>A<!;=?@!;9!D;>"!=!;<=!M89D=AF;>9?!97!3!M=8D9?!
A<38I=@!L>;<!3!!%<306!798!3!M=AF?>38K!98!9;<=8!H3GFS
3JG=! A9?D>@=83;>9?N! ,?%%"T"' @9' B0%U<#C' F5' _/<=9' F5G'
&#;'\<>>0%;'@9'2/";0C'FI'_/<=9'-bG89
'
!
2PQR:O!#?!3!7=L!A3D=D6!3!A9:M89:>D=!>D6!<9LS
=H=86!M=8:>;;=@N4
Y4!
;<9D=! =P=:M;>?I! 3! A388>=8! 789:! G>3J>G>;K! 798! I89DD!
?=IG>I=?A=N!,\0&!"!Y'@9'c&!"#;%&TC'FI'_/<=9'IJ^89
d4!
;<9D=!L<>A<!=?A9F83I=!783F@N!,B")V/'@9'A&#$<@0%"*C'
-J'_/<=9'IJ789
//d
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZa
/4!
;<9D=!L<>A<!3F;<98>e=!3?K!3;;98?=K!D=G=A;=@!JK!;<=!
A8=@>;98!;9!D;3;=!J=798=!;<=!A9F8;6!D<9FG@!DF>;!798!A9GS
G=A;>9?! J=! J89FI<;6! ;<3;! ;<=! @=J;98! 8=A9I?>e=D! ;<=!
=P>D;=?A=!3?@!H3G>@>;K!97!;<=!@=J;N!2*<=D=!38=!A3GG=@!
BL3883?;D! 97! 3;;98?=K! ;9! A9?7=DD! EF@I:=?;NC! *<=D=!
38=!H9>@!J=A3FD=!;<=K!@=M8>H=!;<=!@=J;98!97!<>D!@3K!
>?!A9F8;N4!,P&$<"#&='B&#Y'@9'c&#<=&'Q<='20!'#<#V'A"9C'
-F'_/<=9'---89
a4!
;<9D=! L<>A<! A9?D;>;F;=! 3?! )#;)0' 98! )#%0&*"#&>=0'
8=D;83>?;!97!;83@=6!DFA<!3D!3!M89<>J>;>9?!;9!=?I3I=!>?!
&#T'=?;=8M8>D=!2L<=;<=8!D>:>G38!98!?9;!L>;<!;<=!=?S
;=8M8>D=!97!;<=!=:MG9K=84!L>;<>?!3!M=8>9@!97!!'@0'T0&%*!
37;=8!G=3H>?I!;<=!D=8H>A=!97!;<=!=:MG9K=8N!,[0%%&11<#<'
@9'E*0==C'F-'_/<=9'G7b89'2#7!;<=!8=D;83>?;!>D!8=3D9?3JG=6!
>;!D<9FG@!J=!I>H=?!=77=A;N4!,Q==0#;"%S'@9'?>%&/&3*"#C'
F5'_/<=9'^5^'&#;'20;']<#0'@9'B&!/%&!/'c"$"%'A"9C'Gb'
_/<=9'^bb89
c4!
5!D;>MFG3;>9?!3GG9L>?I!3?!3I=?;!98!:>@@G=:3?!XZl!
97! 3! RF9;3! 3GG9A3;>9?! >?! 798=>I?! =PA<3?I=! 789:! ;<=!
"=?;83G![3?U!2?9L!B&#VY"'.0#$%&=4N!,R00'@9'R&!=">&#'
:=0!$%<!'&#;'K!0'_=&#$'A"9C'0$'&=9C']64475JC'[0>9'-C'47^7W'
20N9'?!$'IG^'&*'&30#;0;C'.0!9'FC'?%$9'Kf'&#;'&'A0#$%&='
B&#Y'`B&#VY"'.0#$%&=a'A<%!)=&%!L<>A<!D;3;=D!;<3;!3GG!
3MMG>A3;>9?D!798!798=>I?!=PA<3?I=!D<3GG!J=!:3@=!9?GK!
;<8F!3F;<98>e=@!3I=?;!J3?UD!3?@!D;3;=D!7F8;<=8!;<3;!
F?@=8! ?9! A>8AF:D;3?A=D! D<9FG@! 3?K! 3MMG>A3?;6! <>D!
3I=?;! 3?@! 8=M8=D=?;3;>H=! 79GG9L! FM! 3?! 3MMG>A3;>9?!
L>;<!;<=!"=?;83G![3?U!^[3?IU9!.=?;83G_N4
14!
5!D;>MFG3;>9?!J38I3>?>?I!3L3K!98!DF88=?@=8>?I!798!3!
A9?D>@=83;>9?!;<=!8>I<;!;9!H9;=!3?@!;9!8F?!798!MFJG>A!
97!!A=N!*<=D=!38=!8>I<;D!A9?7=88=@!#"$!798!>?@>H>@F3G!
98! M8>H3;=! J=?=!!;! 98! 3@H3?;3I=D! JF;! 798! ;<=! MFJG>A!
I99@!3?@!>?;=8=D;N!,.&)%&'@9'.<#;<!"C']64F-JFC'c&%9'
IFC'47GJ89
[:+#1,$.,+!Y%!41:!S+/-#.+!<%!@J21,.+!?.::-4+
"40%!=-/1!POV;!I-,%!'&;!&RQR
!
!
#7!3!G3LK=8!>?!3!A3D=!JFKD!;<=!DFJE=A;!:3;;=8!>?H9GH=@!
>?!;<=!G>;>I3;>9?';)%<#V!D3>@!G>;>I3;>9?6!;<=!MF8A<3D=!L9FG@!
///
!
58;N!XYZa
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
#"$' J=! H3G>@N! +9L=H=86! >7! ;<=! MF8A<3D=! 9AAF88=@! N%<"%' ;9!
<>D!=?;8K!>?;9!;<=!A3D=!3D!A9F?D=G6!;<=!MF8A<3D=!:FD;!J=!
8=I38@=@!3D!3!H3G>@!;83?D3A;>9?N
!
!
M1-:;!1$!-:%!<%!L"=
US!Q)VO);!A+<%!);!&RWP
!
'
[?AR.O!5!A9?;83A;!=?;>;G=@!(!"3N%&@0#$&C+!L8>;;=?!
=?;>8=GK!>?!;<=!.M3?>D<!G3?IF3I=6!M89H>@=@!;<3;!(0#'!&*"'
;0'@0#$&C'#"'N";%&#'@0#;0%'&'"$%"*';<*!/"*'="$0*';0'$0%%0#"'
*<#"'&='&X)<'@0#;0;%"'"'="*'/0%0;0%"*'"%'*)!0*"%0*';0'0*$0'
M'M'M9+!*<>D!>D!3?!=PM8=DD!M89<>J>;>9?!3I3>?D;!;<=!D3G=!97!
;<=!G9;D!@=DA8>J=@!>?!;<=!(!"3N%&@0#$&+!;9!;<>8@!M=8D9?D!98!
D;83?I=8DN
!
'
\:]HO! *<=! M89H>D>9?! >D! 3! ?FGG>;KN! 5! M89<>J>;>9?! ;9!
3G>=?3;=!D<9FG@!?9;!=PA==@!3;!:9D;!3!M=8>9@!97!;L=?;K!K=38DV!
9;<=8L>D=6!;<=8=!L9FG@!J=!DFJH=8D>9?!97!MFJG>A!M9G>AK!L<>A<!
?3;F83GGK!789L?D!9?!F?L3883?;=@!8=D;8>A;>9?D!9?!;<=!8>I<;!
97!9L?=8D<>MN
!
!
!
B+7Nh1:4!?-,J3-*$J#.,2;!L,*%!<%!
@=@H;!X%"%;!1$!-:%
US!VVRVV;!"J2%!R;!&RW)
!
!
*<=!8FG=!97!N&%<';0=<!$"'>D!=PM8=DD=@!>?!;<=!:3P>:!(0M'
;"="'3&="'#"#'"%<$"%'&!$<"+'3?@!(<#'N&%<';0=<!$"'N"$<"%'0*$'
!"#;<$<"';0S0#;0#$<*9+'*<=!G3L!L>GG!?9;!3>@!=>;<=8!M38;K!;9!
3?!>GG=I3G!3I8==:=?;N!#;!G=3H=D!;<=!M38;>=D!L<=8=!>;!!!?@D!
;<=:N
!
!
*<FD6!3!A9?;83A;!=?;=8=@!>?;9!JK!3!@9:=D;>A!A98M983S
;>9?!L>;<!3!798=>I?!A98M983;>9?!;9!:3U=!3?@!D=GG!;<=!G3;;=8OD!
M89@FA;D!>D!>GG=I3G!>7!;<=!G3;;=8!>D!?9;!G>A=?D=@!;9!@9!JFD>?=DD!
>?!;<=!,<>G>MM>?=D!JK!;<=![938@!97!#?H=D;:=?;D!F?@=8!\=S
MFJG>A!5A;!/d//N![F;!>7!;<=!@9:=D;>A!A98M983;>9?!>D!<#'N&%<'
;0=<!$"C'>;!A3??9;!3DU!9F8!A9F8;D!;9!D;9M!;<=!798=>I?!A98M983S
;>9?!789:!;=8:>?3;>?I!;<=!A9?;83A;!3?@!789:!?=I9;>3;>?I!
L>;<!3?@!;83?D7=88>?I!>;D!G>A=?D=!;9!M89@FA=!3?@!@>D;8>JF;=!
>;D!M89@FA;D!;9!;<>8@!M=8D9?DN
//a
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZa
DWE! @`-07:1/! +3! X$.7J:-$.+,/! h8.*8! ^-<1! Y11,! H1*:-#14!
d-:.4
234! 5!D;>MFG3;>9?!G>:>;>?I!;<=!G>3J>G>;K!97!3!IF383?;98!98!DF8=;K!
798!9?GK!9?=!K=38!298!3D!G9?I!3D!>;!>D!798!3!G9?I=8!;>:=!;<3?!
;<=!M=8>9@!!!P=@!798!;<=!M8>?A>M3G!;0>$"%4N!,D"==T0'@9'B&%!0="#'
&#;'])1"#'.)%0$T'A"9C'^J'Q9E9C'N9'I4bW'G5'_/<=9'4G-89
2J4! 5!D;>MFG3;>9?!>?!3!!!8=!>?DF83?A=!M9G>AK!;<3;!;<=!3A;>9?!JK!
;<=!>?DF8=@!D<9FG@!J=!J89FI<;!L>;<>?!3!8=3D9?3JG=!;>:=N!
,c&!<&*'g'A"9'@9'A/<#&'[<%0'K#*)%&#!0'A"9C'-G'_/<=9'F-^89
2A4!
5!D;>MFG3;>9?!;<3;!>?;=8=D;!9?!G93?D!J=!A9:M9F?@=@N!,E"@h$9'
@9'f&!&C'G-'_/<=9'G89
2@4! 5!D;>MFG3;>9?!;<3;!3?!=:MG9K==!:3K!J=!@>D:>DD=@!3;!3?KS
;>:=!L<=?!<>D!D=8H>A=D!38=!?9!G9?I=8!?==@=@V!98!;<3;!3?!
=:MG9K==!:3K!G=3H=!;<=!D=8H>A=D!97!;<=!=:MG9K=86!L>;<9F;!
M8=H>9FD!?9;>A=N!,B"%%"U*YT'@9'K*&Y"C'`A9?9a'-J'Q9E9'4I$/'
.)NN9C'N9'IG-89
2=4! 5!D;>MFG3;>9?!;9!M3K!3!@=J;6!>?AF88=@!@F8>?I!;<=!b3M3?=D=!
9AAFM3;>9?6! >?! ,<>G>MM>?=! AF88=?AK! 37;=8! G>J=83;>9?N! ,H0'
]0"#'@9'.TZ)!"C'K#!9C'7J'_/<=9'F4489
274!
5!D;>MFG3;>9?!>?!3!A9?;83A;!97!G=3D=6!3GG9L>?I!;<=!;=?3?;!;9!
8=;3>?!;<=!8=?;D!97!;<=!<9FD=!798!;<=!M3K:=?;!97!8=M3>8D!
3?@!;3P=DN!,H0'="*'20T0*'@9'H0'="*'20T0*C'5'_/<=9'5JF89
DRE! H1/.2,-$.+,!+3!$81!A-01!+3!-!=+,$#-*$
234! *<=!M38;>=D!V0#0%&==T!:3K!3I8==!9?!3?K!A9?;83A;6!JF;!;<=!
?3:=!;<3;!;<=K!I>H=!;9!>;!D<9FG@!?9;!J=!A9?;89GG>?I6!798!3!
A9?;83A;!>D!L<3;!;<=!M38;>=D!>?;=?@=@!>;!;9!J=6!?9;!L<3;!;<=K!
A3GG!>;N!,i)<%"V&'@9'_&%*"#*'\&%;U&%0'A"9C'F5'_/<=9'^J489
2J4! *<>D!>D!J=A3FD=!3!A9?;83A;!:FD;!J=!EF@I=@!JK!>;D!A<383A;=86!
>;D! ?3;F8=6! 3?@! >;D! G=I3G! RF3G>!!A3;>9?DN! *<=! A9F8;D! L>GG6!
;<=8=798=6!G99U!?9;!D9!:FA<!3;!;<=!798:!97!;<=!;83?D3A;>9?!
3D!3;!>;D!DFJD;3?A=N!,E&>%<0='@9'c"#$0';0'_<0;&;C'b4'_/<=9'
-7b89
//c
!
58;N!XYZc
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
D&(E! L,/J#-,*1!=+,$#-*$
!
!
!
e=TY!U1,1#-:!L,/J#-,*1!=+%;!L,*%!<%
?-/-2-,-!B1:10-#$;!L,*%
US!&'P&PO;!"7#%!V;!O((O
!
!
[?AR.O!\=DM9?@=?;6!L<>A<!<3@!M89AF8=@!>?DF83?A=!A9H=8S
3I=!789:!M=;>;>9?=8!798!3!?F:J=8!97!K=38D6!<3@!J==?!I83?;=@!3!aZ!
;9!QZS@3K!A8=@>;!;=8:!798!;<=!8=?=L3G!97!M9G>A>=DN!.FA<!3!M83A;>A=!
<3@!=P>D;=@!FM!;9!;<=!;>:=!;<=!AG3>:D!L=8=!!!G=@N!`98=9H=86!;<=8=!
L3D! M8=M9?@=83?;! M8997! ;<3;! ?9! ;>:=GK! ?9;>A=! 97! ?9?S8=?=L3G!
L3D!:3@=!JK!M=;>;>9?=8N
!
'
K..d:O'i<=;<=8!98!?9;!;<=!!!8=!>?DF83?A=!M9G>A>=D!>DDF=@!JK!
M=;>;>9?=8!;9!8=DM9?@=?;!A9H=8>?I!;<=!M=8>9@!789:!`3K!006!XQQX!
;9!`3K!006!XQQ0!<3@!J==?!=P;=?@=@!98!8=?=L=@!JK!3?!>:MG>=@!
A8=@>;! 3883?I=:=?;! ;<9FI<! 3A;F3G! M3K:=?;! 98! M8=:>F:! L3D!
;=?@=8=@!9?!3!G3;=8!@3;=!3?@!37;=8!;<=!9AAF88=?A=!97!;<=!!!8=S8>DU!
>?DF8=@!3I3>?D;N
!
'
\:]HO'*<=!>?DF8=8!:3K!I83?;!A8=@>;!=P;=?D>9?!798!M3K:=?;!
97!M8=:>F:N!*<>D!D>:MGK!:=3?D!;<3;!>7!>?DF8=8!<3D!I83?;=@!;<=!
>?DF8=@!3!A8=@>;!;=8:!798!M8=:>F:!M3K:=?;!3?@!G9DD!9AAF8D!J=S
798=!=PM>83;>9?!97!;=8:6!8=A9H=8K!9?!;<=!M9G>AK!D<9FG@!J=!3GG9L=@!
=H=?!;<9FI<!M8=:>F:!>D!M3>@!37;=8!;<=!G9DD!JF;!L>;<>?!;<=!A8=@>;!
;=8:N!*<=8=!>D!?9;<>?I!>?!.=AN!cc!97!;<=!#?DF83?A=!"9@=!97!XQc1!
L<>A<!M89<>J>;D!M38;>=D!>?!3?!>?DF83?A=!A9?;83A;!;9!M89H>@=!3!
A8=@>;!;=8:!L>;<>?!L<>A<!;9!M3K!;<=!M8=:>F:DN!*<3;!3I8==:=?;!
>D!?9;!3I3>?D;!;<=!G3L6!:983GD6!I99@!AFD;9:D6!MFJG>A!98@=86!98!
MFJG>A!M9G>AKN!*<=!3I8==:=?;!J>?@D!;<=!M38;>=DN!,.00'?%$9'4FJGC'
A<@<='A";089
!
!
#?!;<=!>?D;3?;!A3D=6!>;!L9FG@!J=!F?EFD;!3?@!>?=RF>;3JG=!>7!
8=A9H=8K!9?!;<=!M9G>AK!L9FG@!?9;!J=!M=8:>;;=@!3I3>?D;!M=;>;>9?=86!
L<>A<!<3@!A9?D>D;=?;GK!I83?;=@!3!aZ!;9!QZS@3K!A8=@>;!;=8:!798!
M3K:=?;!97!M8=:>F:!@=DM>;=!>;D!7FGG!3L38=?=DD!97!.=ANcc!3798=S
:=?;>9?=@!3J9H=N!(D;9MM=G!;=38D!>;!789:!;3U>?I!8=7FI=!F?@=8!D3>@!
D=A;>9?6!D>?A=!8=DM9?@=?;!8=G>=@!>?!I99@!73>;<!9?!DFA<!M83A;>A=N
!
"#$%!&'(P%!L,,+0.,-$1!*+,$#-*$/!/8-::!51!#12J:-$14!59!$81!
/$.7J:-$.+,/!+3!$81!7-#$.1/;!59!$81!7#+<./.+,/!+3!B.$:1/!L!-,4!
LL! +3! $8./! Y++Z;! 59! $81! #J:1/! 2+<1#,.,2! $81! 0+/$! -,-:+2+J/!
,+0.,-$1!*+,$#-*$/;!-,4!59!$81!*J/$+0/!+3!$81!7:-*1%
//1
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZc
=>??@ABC
D&E! U+<1#,.,2!SJ:1/!3+#!L,,+0.,-$1!=+,$#-*$/
234! D;>MFG3;>9?D
2J4! *>;G=D!#!3?@!##!97![99U!#$!W!&JG>I3;>9?D!3?@!"9?;83A;D
2A4!
8FG=D!9?!;<=!:9D;!5-5%&j&T.!?9:>?3;=!A9?;83A;D
2@4! AFD;9:D!97!;<=!MG3A=
DOE! B81!V!i.,4/!+3!L,,+0.,-$1!=+,$#-*$/
234! ;"')$';0*!2#!V<@0!;<3;!K9F!:3K!V<@04
2J4! ;"')$'S&!<&*'2#!V<@0!;<3;!K9F!:3K!;"4
2A4!
S&!<"')$';0*'2#!;"!;<3;!K9F!:3K!V<@04
!
!
X-,!?.2J1:!=+#7%!<%!AMS=
US!W(PPV;!?-9!'&;!&RWW
!
!
*<=!>??9H3;>9?!M89I83:!DM9?D98=@!JK!3!A98M983;>9?!
>?H>;>?I! >;D! =:MG9K==D! ;9! DFJ:>;! >??9H3;>9?! M89M9D3GD!
3?@! ;<=! A98M983;>9?! F?@=8;3U>?I! ;9! I83?;! A3D<! 3L38@D!
;9! =:MG9K==D! L<9! 3AA=M;! DFA<! >?H>;3;>9?! 3?@! L<9D=! >?S
?9H3;>H=!DFII=D;>9?D6!>?!;<=!EF@I:=?;!97!;<=!A98M983;>9?OD!
97!!A>3GD6!D3;>D!!=@!;<=!D;3?@38@D!3?@!8=RF>8=:=?;D!97!;<=!
M89I83:! 3?@! L<>A<6! ;<=8=798=6! A9FG@! J=! ;83?DG3;=@! >?;9!
D9:=!DFJD;3?;>3G!J=?=!!;!;9!;<=!A98M983;>9?6!;<9FI<!3!F?>S
G3;=83G!F?@=8;3U>?I!>?!98>I>?6!A9FG@!?9?=;<=G=DD!8>M=?!>?;9!
3?!=?798A=3JG=!,S&!<"')$';0*8'9JG>I3;>9?!9?!;<=!M38;!97!;<=!
A98M983;>9?!F?@=8!A=8;3>?!A>8AF:D;3?A=N
2@4! S&!<"')$'S&!<&*'2#!;"!;<3;!K9F!:3K!;"4
!
!
X-,$+/!<%!"*Jg)'!>%U%!A+%!'W)
!
'
[?AR.O!#?!3!A9?;83A;6!;<=!M89H>D>9?D!97!L<>A<!L=8=!
H=8K!D>:>G38!;9!3!G=3D=!A9?;83A;6!J9;<!M38;>=D!&V%00;';<3;!
;<=!D3:=!.+&T%'!-&*!J=!8=I38@=@!3D!3!G=3D=N!K**)0O'#D!
;<>D!D;>MFG3;>9?!H3G>@m
!
'
\:]HO!]=D6!J=A3FD=h
//Q
!
58;N!XYZ1
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
2X4! ;<=8=!>D!?9!G=I3G!M89H>D>9?!M89<>J>;>?I!DFA<!3!D;>MFS
G3;>9?! 2I=?=83GGK6! L<3;=H=8! >D! 3I8==@! FM9?! >D! ><#;6
<#VC' M38;>AFG38GK! >?! 3! !"#*0#*)&=! A9?;83A;! DFA<! 3D!
%(5.(4
204! ;<>D!3I8==:=?;!:3K!J=!A9?D>@=8=@!9?=!97!;<=!<##"3<6
#&$0'!"#$%&!$*!=PM8=DDGK!3GG9L=@!F?@=8!58;N!XYZcN
D'E! M12-:!X1#<.*1/!3+#!-![#.1,4
!
!
=+#7J/!<%!=+J#$!+3!"771-:/
RW!X=S"!VOV
!
!
#7!3?!3;;98?=K!8=?@=8D!G=I3G!D=8H>A=D!798!3!AG9D=!78>=?@6!;<=!
798:=8!A3?!D;>GG!A<38I=!3;;98?=KOD!7==D!=H=?!>?!;<=!3JD=?A=!97!3?K!
3I8==:=?;!;<=8=9?N!*<>D!>D!J=A3FD=!97!;<=!>??9:>?3;=!A9?;83A;!
97!S&!<"')$';0*'2#!@9!;<3;!K9F!:3K!I>H=4!L<>A<6!>?!;F8?6!>D!J3D=@!
9?!;<=!M8>?A>MG=!;<3;!9?=!A3??9;!F?EFD;GK!=?8>A<!<>:D=G7!3;!3?S
9;<=8OD!=PM=?D=N
!
"#$%!&'(W%!B81!*+,$#-*$!0J/$!5.,4!5+$8!*+,$#-*$.,2!7-#N
$.1/j!.$/!<-:.4.$9!+#!*+07:.-,*1!*-,,+$!51!:13$!$+!$81!6.::!+3!+,1!
+3!$810%!
=>??@ABC
D&E! ?J$J-:.$9!+3!=+,$#-*$/
!
!
*<>D!58;>AG=!D;8=DD=D!;<=!3)$)&=<$T'"S'!"#$%&!$*'L';<3;!>D6!
J9;<!M38;>=D!38=!J9F?@N!*<=!M8>?A>MG=!>D!J3D=@!9?!;<=!=DD=?;>3G!
0X)&=<$T'97!;<=!M38;>=DN!#;!>D!8=MFI?3?;!;9!><#;!9?=!M38;K6!3?@!
K=;!G=3H=!;<=!9;<=8!S%009',E&%!<&'@9'2<$&']0V&%;&C'K#!9C']6IJ4b^C'
Q!$9'FJC'47Gb89
!
!
":*J-\!<%!TXY";!1$!-:%
US!PQ')';!?-9!O;!&RWW
!
'
[?AR.O!)98!;3U>?I!M38;!>?!3!@=:9?D;83;>9?!98!M89;=D;!
L<>A<!;<=!DA<99G!3F;<98>;>=D!J83?@=@!3D!B3?38A<>AC!83GG>=D6!A=8S
;3>?!D;F@=?;D!L=8=!J388=@!789:!8=S=?89GG:=?;!L<>G=!D9:=!;=3A<S
=8D!L=8=!@>D:>DD=@N!*<=!377=A;=@!D;F@=?;D!3?@!;=3A<=8D!3GG=I=@!
;<3;!;<=K!<3H=!J==?!@=M8>H=@!97!M89A=@F83G!@F=!M89A=DD!L<>A<!
/aZ
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZ1
8=RF>8=D!;<3;!;<=8=!J=!@F=!?9;>A=!3?@!<=38>?I6!3?@!97!DFJD;3?;>H=!
@F=!M89A=DD!L<>A<!8=RF>8=D!;<3;!;<=!M=8D9?!98!J9@K!;9!A9?@FA;!;<=!
>?H=D;>I3;>9?!J=!A9:M=;=?;!;9!3A;!3?@!@=A>@=6!78==!789:!J>3D!3?@!
M8=EF@>A=N!#;!>D!?9;!@>DMF;=@!;<3;!,8>?;=@!\FG=D!3?@!\=IFG3;>9?D!
97!;<=!DA<99G!38=!@>D;8>JF;=@!3;!;<=!J=I>??>?I!97!=3A<!DA<99G!K=38!
;9!;<=!D;F@=?;DN!*<=!\FG=D6!3:9?I!9;<=8D6!M89H>@=h!B(?89GG:=?;!
>?!;<=!,.[5!>D!A9?;83A;F3G!>?!?3;F8=!3?@!FM9?!3@:>DD>9?!;9!;<=!
DA<99G6!;<=!D;F@=?;!>D!@==:=@!;9!<3H=!3I8==@!;9!J>?@!<>:D=G7!;9!3GG!
8FG=D!3?@!8=IFG3;>9?D!JK!;<=!'=M38;:=?;!97!(@FA3;>9?6!"FG;F8=!
3?@!.M98;DN!)F8;<=8:98=6!<=!3I8==D!;<3;!<=!:3K!J=!8=RF>8=@!;9!
L>;<@83L!789:!;<=!DA<99G!3;!3?K!;>:=!798!8=3D9?D!@==:=@!DF7S
!!A>=?;GK!D=8>9FD!JK!;<=!.A<99G!5@:>?>D;83;>9?NOO
!
'
\:]HO!,383I83M<!XYc!97!;<=!`3?F3G!97!\=IFG3;>9?D!798!
,8>H3;=!.A<99GD!M89H>@=D!;<3;!L<=?!3!A9GG=I=!D;F@=?;!8=I>D;=8D!
>?!3!DA<99G6!>;!>D!F?@=8D;99@!;<3;!<=!>D!=?89GG>?I!798!;<=!=?;>8=!
D=:=D;=8N!*<=!`3?F3G!3GD9!M89H>@=D!;<3;!;<=!BL8>;;=?!A9?;83A;C!
8=RF>8=@!798!A9GG=I=!;=3A<=8D!38=!798!B9?=!D=:=D;=8NC!#;!>D!J=K9?@!
@>DMF;=!;<3;!3!D;F@=?;!9?A=!3@:>;;=@!;9!DA<99G!>D!A9?D>@=8=@!=?S
89GG=@!798!9?=!D=:=D;=8N!(H>@=?;GK6!37;=8!;<=!AG9D=!97!;<=!D=:=D;=8!
;<=!DA<99G!<3D!?9!G9?I=8!3?K!=P>D;>?I!A9?;83A;!=>;<=8!L>;<!;<=!
D;F@=?;D!98!L>;<!;<=!>?;=8H=?>?I!;=3A<=8DN!.FA<!J=>?I!;<=!A3D=6!
;<=!A<38I=!97!@=?>3G!97!@F=!M89A=DD!>D!F?;=?3JG=N!)98!A9?;83A;D!
38=!8=DM=A;=@!3D!;<=!G3L!J=;L==?!;<=!A9?;83A;>?I!M38;>=DN!5?@!
;<=!A9F8;D6!J=!;<=K!;<=!98>I>?3G!;8>3G!A9F8;!98!;<=!3MM=GG3;=!A9F8;6!
<3H=!?9!M9L=8!;9!:3U=!A9?;83A;D!798!;<=!M38;>=DN
DOE! =+,/1]J1,*1/!+3!?eBe"MLBf
234! 5!N&%$T'A3??9;!8=H9U=!98!8=?9F?A=!3!A9?;83A;!L>;<9F;!;<=!
A9?D=?;! 97! ;<=! 9;<=86! ?98! A3?! >;! <3H=! >;! D=;! 3D>@=! 9?! ;<=!
I89F?@! ;<3;! <=! <3@! :3@=! 3! J3@! J38I3>?N! ,[0%#&#;01' @9'
c22C'4-'_/<=9'Ib-89
2J4! i<=?! ;<=! 7FG!!GG:=?;! 97! ;<=! A9?@>;>9?! @=M=?@D! FM9?! ;<=!
D9G=!L>GG!97!;<=!@=J;986!;<=!A9?@>;>9?3G!9JG>I3;>9?!>D!H9>@!
,?%$9'445IC'A<@<='A";08!>7!;<=!A9?@>;>9?!>D!.T.,(-.#$(N!#7!
\(.&%T*&\]6!;<=!9JG>I3;>9?!>D!H3G>@N!+=?A=6!>;!>D!3GG!8>I<;!
798!;<=!A9?;83A;!;9!=PM8=DDGK!I>H=!;9!9?=!M38;K!;<=!8>I<;!;9!
"5-"(%!;<=!D3:=N!*<>D!>D!J=A3FD=6!L<=?!;<=!A9?;83A;!>D!
;<FD!A3?A=GG=@6!;<=!3I8==:=?;!>D!8=3GGK!J=>?I!)T%)#%%('N!
,R&T="%'@9'dT'R<0#V'_<&"'&#;'R&#']<)&#C'-F'_/<=9'5bF89
/aX
!
58;N!XYZ1
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
'
'
2PQR:O!i<=?!3!A3?A=GG3;>9?!>D!:3@=6![&*+!M38;>=D!
:FD;!97!A9F8D=!J=!8=G=3D=@N4
!
!
?1:1,*.+!<%!H9!B.-+
)!T8.:%!RR
'
'
[?AR.O!*L9!M=8D9?D!=?;=8=@!>?;9!3!A9?;83A;!97!G=3D=!
97!G3?@N!#;!L3D!D;>MFG3;=@!;<3;!3;!3?K!;>:=!>0S"%0!;<=!;=?S
3?;!A9?D;8FA;=@!3?K!JF>G@>?I!;<=8=9?6!<=!A9FG@!!&#!0=';<=!
G=3D=N!K**)0O'#D!;<=!D;>MFG3;>9?!H3G>@m
!
'
\:]HO! ]=D6! 798! <=8=! 3I3>?6! L<=?! A3?A=GG3;>9?! >D!
:3@=6!;<>D!JK!>;D=G7!>D!3!S)=!'==30#$!97!;<=!M89H>D>9?D!97!;<=!
A9?;83A;N
!
!
TAY!<%!="
US!WWWW(;!"7#%!'(;!&RR&
!
'
[?AR.O' *<=! ,<>G>MM>?=! -3;>9?3G! [3?U! 2,-[4! 9H=8!
;<=! 9JE=A;>9?! 97! @=J;986! 3?@! L>;<9F;! 3F;<98>;K! 789:! ;<=!
`9?=;38K! [938@6! L>;<>?! 3! M=8>9@! 97! 9?GK! 79F8! :9?;<D6!
>?A8=3D=@! ;<=! X1l! >?;=8=D;! 83;=! 9?! ;<=! J9889L=8OD! G93?!
9JG>I3;>9?!;<8==!;>:=Dh!234!;9!Y0l!>?!bFGN!XQ1dV!2J4!;9!dXl!
>?!&A;N!XQ1dV!3?@!2A4!;9!d1l!>?!-9HN!XQ1dN
!
'
\:]Hh!*<9D=!>?A8=3D=D!L=8=!?FGG!3?@!H9>@6!798!>7!;<=!
`9?=;38K![938@!>;D=G7!L3D!?9;!3F;<98>e=@!;9!:3U=!DFA<!
A<3?I=D!97;=?=8!;<3?!9?A=!3!K=386!=H=?!G=DD!D9!:3K!3!J3?U6!
L<>A<!>D!DFJ98@>?3;=!;9!;<=![938@N!i<>G=!;<=!@=J;98!@>@!
3I8==!>?!;<=!'==@!97!\=3G!(D;3;=!`98;I3I=!;<3;!;<=!>?;=8=D;!
83;=!:3K!J=!>?A8=3D=@!@F8>?I!;<=!G>7=!97!;<=!A9?;83A;!B;9!
DFA<!>?A8=3D=!L>;<>?!;<=!83;=!3GG9L=@!JK!G3L6!3D!;<=![938@!
97! '>8=A;98D! 97! ;<=! `98;I3I==! :3K! M8=DA8>J=C! 98! BL>;<>?!
;<=!G>:>;D!3GG9L=@!JK!G3L6C!?9!G3L!L3D!=H=8!M3DD=@!>?!bFGN!
;9!-9HN!XQ1d!>?A8=3D>?I!;<=!>?;=8=D;!83;=D!9?!G93?D!98!8=S
?=L3GD!;<=8=97!;9!Y0l6!dXl!3?@!d1l!,N0%'&##)38C!3?@!?9!
@9AF:=?;D!L=8=!=P=AF;=@!3?@!@=G>H=8=@!JK!;<=!@=J;98!;9!
=77=A;F3;=!;<=!>?A8=3D=N!"=?;83G![3?U!">8AFG38!QZ/6!.=8>=D!
97!XQ10!8=:9H=@!;<=!TDF8K!%3L!A=>G>?I!9?!>?;=8=D;!83;=D6!
JF;!>;!@>@!?9;!3F;<98>e=!;<=!,-[6!98!3?K!J3?U!798!;<3;!:3;S
;=86! ;9! F?>G3;=83GGK! 3?@! DFAA=DD>H=GK! >?A8=3D=! ;<=! 3I8==@!
/a0
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYZ1
83;=!97!>?;=8=D;!83;=D!789:!X1l!;9!d1l!L>;<>?!3!DM3?!97!79F8!
2d4!:9?;<D6!>?!H>9G3;>9?!97!,8=D>@=?;>3G!'=A8==!XXa!L<>A<!
G>:>;D!DFA<!A<3?I=D!;9!B9?A=!=H=8K!;L=GH=!:9?;<DNC!
!
!
[=D>@=D6!H>9G3;>?I!,'!XXa6!;<=!F?>G3;=83G!3A;>9?!97!;<=!
,-[!>?!>?A8=3D>?I!;<=!>?;=8=D;!83;=!9?!;<=!J9889L=8OD!G93?!
H>9G3;=@!;<=!:F;F3G>;K!97!A9?;83A;D!98@3>?=@!>?!58;N!XYZ1!
97!;<=!">H>G!"9@=N!#?!98@=8!;<3;!9JG>I3;>9?D!38>D>?I!789:!
A9?;83A;D!:3K!<3H=!;<=!798A=!97!G3L!J=;L==?!;<=!M38;>=D6!
;<=8=! :FD;! J=! :F;F3G>;K! J=;L==?! ;<=! M38;>=D! J3D=@! 9?!
;<=>8!=DD=?;>3G!RF3G>;KN!5!A9?;83A;!A9?;3>?>?I!3!A9?@>;>9?!
L<>A<! :3U=D! >;D! 7FG!!GG:=?;! @=M=?@=?;! =PAGFD>H=GK! FM9?!
;<=!F?A9?;89GG=@!L>GG!97!9?=!97!;<=!A9?;83A;>?I!M38;>=D!>D!
H9>@N!5?@!=H=?!3DDF:>?I!;<3;!;<=!,XN1!:>GG>9?!G93?!3I8==S
:=?;!J=;L==?!;<=!,-[!3?@!;<=!J9889L=8!I3H=!;<=!,-[!3!
G>A=?D=!23G;<9FI<!>?!73A;!;<=8=!L3D!?9?=4!;9!>?A8=3D=!;<=!
>?;=8=D;!83;=!3;!L>GG!@F8>?I!;<=!;=8:!97!;<=!G93?6!;<3;!G>S
A=?D=!L9FG@!<3H=!J==?!?FGG!3?@!H9>@!798!J=>?I!H>9G3;>H=!97!
;<=!M8>?A>MG=!97!:F;F3G>;K!=DD=?;>3G!9?!A9?;83A;DN!#;!L9FG@!
<3H=!>?H=D;=@!;<=!G93?!3I8==:=?;!L>;<!;<=!A<383A;=8!97!3!
A9?;83A;!97!3@<=D>9?6!L<=8=!;<=!M38;>=D!@9!?9;!J38I3>?!9?!
=RF3G!799;>?I6!;<=!L=3U=8!M38;KOD!2;<=!@=J;98OD4!M38;>A>M3S
;>9?!J=>?I!8=@FA=@!;9!;<=!3G;=8?3;>H=!B;3U=!>;!98!G=3H=!>;NC!
.FA<!3!A9?;83A;!>D!3!;83M!798!;<=!L=3U=8!M38;K!L<9:!;<=!
A9F8;D!97!EFD;>A=!:FD;!M89;=A;!3I3>?D;!3JFD=!3?@!>:M9D>S
;>9?N!,-[OD!DFAA=DD>H=!>?A8=3D=!97!;<=!>?;=8=D;!83;=!9?!;<=!
J9889L=8OD!G93?6!9H=8!;<=!G3;;=8OD!M89;=D;6!L=8=!38J>;838K!
3D!;<=K!H>9G3;=@!3?!=PM8=DD!M89H>D>9?!97!;<=!"8=@>;!5I8==S
:=?;6!.=AN!QNZX6!;<3;!>;D!;=8:D!B:3K!J=!3:=?@=@!9?GK!JK!
3?!>?D;8F:=?;!>?!L8>;>?I!D>I?=@!JK!;<=!M38;K!;9!J=!J9F?@!
3D!JF8@=?=@!JK!DFA<!3:=?@:=?;NC!*<=!>?A8=3D=D!>:M9D=@!
JK! ;<=! ,-[! 3GD9! A9?;83H=?=! 58;N! XQ/a! 97! ;<=! ">H>G! "9@=!
L<>A<!M89H>@=D!;<3;!B?9!>?;=8=D;!D<3GG!J=!@F=!F?G=DD!>;!<3D!
J==?! =PM8=DDGK! D;>MFG3;=@! >?! L8>;>?INOO! +=8=6! ;<=! @=J;98!
?=H=8!3I8==@!>?!L8>;>?I!;9!M3K!;<=!>?;=8=D;!>?A8=3D=D!!!P=@!
JK!;<=!,-[!J=K9?@!;<=!0dl!M=8!3??F:V!<=?A=6!<=!>D!?9;!
J9F?@!;9!M3K!3!<>I<=8!83;=!;<3?!;<3;N!*<=!>?A8=3D=!>?!;<=!
>?;=8=D;!83;=!789:!X1l!;9!d1l!L>;<>?!3!M=8>9@!97!79F8!2d4!
:9?;<D!>D!=PA=DD>H=N
!
'
2PQR:O! #?! B&#!"' [<=<N<#"' .&@<#V*' &#;' c"%$V&V0'
B&#Y'@9'P&@&%%"C'4^'.A2?'F-G'`475baC!;<=!.FM8=:=!"9F8;!
/aY
!
58;N!XYZQ
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
@>D3F;<98>e=@!;<=!J3?U!789:!83>D>?I!;<=!>?;=8=D;!83;=!9?!
;<=!J9889L=8OD!G93?!789:!X0l!;9!Xcl!@=DM>;=!3?!=DA3G3;>9?!
AG3FD=!>?!;<=!G93?!3I8==:=?;!D>I?=@!JK!;<=!@=J;98D!3F;<98S
>e>?I![3?A9!)>G>M>?9!B;9!A988=DM9?@>?IGK!>?A8=3D=!;<=!>?;=8S
=D;!83;=!D;>MFG3;=@!>?!;<>D!A9?;83A;!L>;<9F;!3@H3?A=!?9;>A=!
;9!:=fFD!>?!;<=!=H=?;!3!G3L!D<9FG@!J=!=?3A;=@!>?A8=3D>?I!
;<=!G3L7FG!83;=D!97!>?;=8=D;!;<3;!:3K!J=!A<38I=@!9?!;<>D!
M38;>AFG38!U>?@!97!G93?NC!*<=!J3?U!8=G>=@!9?!.=A;>9?!Y!97!
"=?;83G![3?U!2[3?IU9!.=?;83G4!">8AFG38!dQd6!@3;=@!bFGN!
X6!XQca!2c0!&NjN!-9N!Y6!MN!acaSb4!L<>A<!M89H>@=@!;<3;!B;<=!
:3P>:F:!83;=!97!>?;=8=D;6!>?AGF@>?I!A9::>DD>9?D6!M8=:>S
F:D6!7==D!3?@!9;<=8!A<38I=D!9?!G93?D!L>;<!3!:3;F8>;K!97!
:98=!;<3?!cYZ!@3KD!JK!J3?U>?I!>?D;>;F;>9?D!D<3GG!J=!XQlNC!
*<=!"9F8;!@>D3GG9L=@!;<=!>?A8=3D=!J=A3FD=!B">8AFG38!dQd6!
3G;<9FI<!>;!<3D!;<=!=77=A;!97!G3L!>D!?9;!3!G3LNC!*<=!"9F8;!
<=G@h!B)89:!`38N!Xc6!XQ1Z6!=DA3G3;>9?!AG3FD=D6!;9!J=!H3G>@6!
D<9FG@! DM=A>!!A3GGK! M89H>@=h! 2X4! ;<3;! ;<=8=! A3?! J=! 3?! >?S
A8=3D=!>?!>?;=8=D;!>7!>?A8=3D=@!JK!G3L!98!JK!;<=!`9?=;38K!
[938@V!3?@!204!>?!98@=8!798!DFA<!D;>MFG3;>9?!;9!J=!H3G>@6!>;!
:FD;!>?AGF@=!;<=!M89H>D>9?!798!8=@FA;>9?!97!;<=!D;>MFG3;=@!
>?;=8=D;!B>?!;<=!=H=?;!;<3;!;<=!3MMG>A3JG=!:3P>:F:!83;=!97!
>?;=8=D;!>D!8=@FA=@!JK!G3L!98!JK!;<=!`9?=;38K![938@NOO!#?!
;<=!M8=D=?;!A3D=6!;<=!,-[!8=G>=@!9?!>;D!9L?!J938@!8=D9GFS
;>9?!3?@!A>8AFG38D!JF;!;<9D=!8=D9GF;>9?!3?@!A>8AFG38D!38=!
?=>;<=8!G3LD!?98!8=D9GF;>9?D!97!;<=!`9?=;38K![938@N4
D'E! @`*17$.+,!$+!L,<.+:-5.:.$9!+3!=+,$#-*$J-:!>5:.2-$.+,/
!
!
",J*1,/.+,!<%!A-$.+,-:!M-5+#!e,.+,
W(!X=S"!')(
!
!
*<=!8FG=!;<3;!;<=!9JG>I3;>9?!97!A9?;83A;D!D<9FG@!?9;!J=!>:S
M3>8=@!>D!?9;!3JD9GF;=N!*<FD6!;<=!78==!=P=8A>D=!97!8=G>I>9FD!J=G>=7D!
>D!DFM=8>98!;9!A9?;83A;F3G!8>I<;DN!5?!=P3:MG=!>D!;<=!J=G>=7!97!3!
8=G>I>9FD!D=A;!;<3;!>;D!:=:J=8D!D<9FG@!?9;!E9>?!3!G3J98!98I3?>e3S
;>9?!98!M38;>A>M3;=!>?!3!A9GG=A;>H=!J38I3>?>?I!3I8==:=?;N
!
"#$%! &'(R%! B81! 41$1#0.,-$.+,! +3! $81! 71#3+#0-,*1! 0-9!
51!:13$!$+!-!$8.#4!71#/+,;!68+/1!41*./.+,!/8-::!,+$!51!5.,4.,2!
J,$.:!.$!8-/!511,!0-41!Z,+6,!$+!5+$8!*+,$#-*$.,2!7-#$.1/%!
/ad
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;DN!XYXZSXYXX
=>??@ABC
D&E! H1$1#0.,-$.+,!59!B8.#4!T1#/+,
!
'
:M&3N=0O'#?!3!A9?;83A;!97!D3G=6!;<=!!!P>?I!97!;<=!N%<!0'3?@!
;<=!;0=<@0%T!@3;=!A3?!J=!G=7;!;9!3!;<>8@!M=8D9?N
DOE! h81,!H1*./.+,!L/!Y.,4.,2
!
!
*<=!@=A>D>9?!J>?@D!;<=!M38;>=D!9?GK!37;=8!>;!>D!3&;0'Y#"U#'
$"'>"$/9
D'E! @331*$!+3!X$.7J:-$.+,!S12-#4.,2!"#5.$#-$.+,
!
!
#7!>?!3!A9?;83A;6!;<=8=!>D!3!D;>MFG3;>9?!798!38J>;83;>9?!2F?S
@=8!\=MN!5A;!1c/46!3?@!9?=!M38;K6!>?!A3D=!97!@>DMF;=6!8=7FD=D!;9!
DFJ:>;!;<=!:3;;=8!;9!38J>;83;>9?6!;<=!3II8>=H=@!M38;K!L<9!I9=D!
;9!A9F8;!;9!8=RF=D;!>;!;9!98@=8!;<=!9;<=8!M38;K!;9!DFJ:>;!;<=!:3;S
;=8! ;9! 38J>;83;>9?6! D<9FG@! -&*! 3?K:98=! M8=D=?;! ;9! ;<=! A9F8;!
;<=!:=8>;D!97!;<=!@>DMF;=@!:3;;=8DN!*<=!@=A>D>9?!9?!D3>@!:=8>;D!
L>GG!J=!FM!;9!;<=!38J>;83;98N!*<=!9?GK!7F?A;>9?!97!;<=!"9F8;!>?!
;<>D!A3D=!L9FG@!J=!;9!@=A>@=!L<=;<=8!98!?9;!;<=!M38;>=D!D<9FG@!
M89A==@!;9!38J>;83;>9?N',c&V)<#;&#&"'_"%$=&#;'A030#$'A"%N9'
@9'c!H"#")V/C'E2'IFF7JC'?N%9'I-C'47Gb89
!
"#$%!&'&(%!B81!41$1#0.,-$.+,!/8-::!,+$!51!+5:.2-$+#9!.3!.$!
./!1<.41,$:9!.,1]J.$-5:1%!L,!/J*8!*-/1;!$81!*+J#$/!/8-::!41*.41!
68-$!./!1]J.$-5:1!J,41#!$81!*.#*J0/$-,*1/%
=>??@ABC
!
@<.41,$:9!L,1]J.$-5:1!H1$1#0.,-$.+,!L/!A+$!Y.,4.,2
234! i<3;!>D!=RF>;3JG=!>D!3!RF=D;>9?!97!73A;6!;9!J=!3DA=8;3>?=@!
789:!;<=!3;;=?@3?;!A>8AF:D;3?A=DN
2J4! *<=!A9F8;!>D!A3GG=@!FM9?!;9!@=A>@=!L<3;!>D!=RF>;3JG=N
!
"#$%!&'&&%!=+,$#-*$/!$-Z1!1331*$!+,:9!51$611,!$81!7-#$.1/;!
$81.#!-//.2,/!-,4!81.#/;!1`*17$!.,!*-/1!681#1!$81!#.28$/!-,4!
+5:.2-$.+,/! -#./.,2! 3#+0! $81! *+,$#-*$! -#1! ,+$! $#-,/0.//.5:1!
59!$81.#!,-$J#1;!+#!59!/$.7J:-$.+,!+#!59!7#+<./.+,!+3!:-6%!B81!
81.#!./!,+$!:.-5:1!519+,4!$81!<-:J1!+3!$81!7#+71#$9!81!#1*1.<14!
3#+0!$81!41*141,$%
/a/
!
58;N!XYXX
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
!
L3! -! *+,$#-*$! /8+J:4! *+,$-.,! /+01! /$.7J:-$.+,! .,! 3-<+#!
+3!-!$8.#4!71#/+,;!81!0-9!410-,4!.$/!3J:!!::01,$!7#+<.414!81!
*+00J,.*-$14!8./!-**17$-,*1!$+!$81!+5:.2+#!513+#1!.$/!#1<+N
*-$.+,%! "! 01#1! .,*.41,$-:! 51,1!!$! +#! .,$1#1/$! +3! -! 71#/+,! ./!
,+$!/J3!!*.1,$%!B81!*+,$#-*$.,2!7-#$.1/!0J/$!8-<1!*:1-#:9!-,4!
41:.51#-$1:9!*+,31##14!-!3-<+#!J7+,!-!$8.#4!71#/+,%
=>??@ABC
D&E! T#.,*.7:1!+3!S1:-$.<.$9
!
!
*<>D!58;>AG=!D;8=DD=D!;<=!M8>?A>MG=!97!\(%5*#$#*]!W!;<3;!
>D6!A9?;83A;D!38=!I=?=83GGK!=77=A;>H=!9?GK!J=;L==?!;<=!,5\*#(.6!
;<=>8!5..#j-.6!3?@!;<=>8!+(#\.N
!
!
bJ-,+!<%!=";!1$!-:%
US!R)R((;!IJ:%!O';!&RRO
!
!
#;!>D!3!J3D>A!M8>?A>MG=!>?!A>H>G!G3L!;<3;6!L>;<!A=8;3>?!=PA=MS
;>9?D! ?9;! 9J;3>?>?I! >?! ;<>D! A3D=6! 3! A9?;83A;! A3?! 9?GK! J>?@! ;<=!
M38;>=D!L<9!<3@!=?;=8=@!>?;9!>;!98!;<=>8!DFAA=DD98D!L<9!3DDF:=@!
;<=>8! M=8D9?3G>;>=D! 98! ;<=>8! EF8>@>A3G! M9D>;>9?D6! 3?@! ;<3;6! 3D! 3!
A9?D=RF=?A=6! DFA<! A9?;83A;! A3?! ?=>;<=8! 73H98! ?98! M8=EF@>A=! 3!
;<>8@!M=8D9?N
!
!
*<=!9JG>I3;>9?!97!A9?;83A;D!>D!G>:>;=@!;9!;<=!M38;>=D!:3U>?I!
;<=:!3?@6!98@>?38>GK6!9?GK!;<9D=!L<9!38=!M38;>=D!;9!A9?;83A;D!
38=!G>3JG=!798!;<=>8!J8=3A<N!,38;>=D!;9!3!A9?;83A;!A3??9;!;<=8=JK!
>:M9D=!3?K!G>3J>G>;K!9?!9?=!L<96!F?@=8!>;D!;=8:D6!>D!3!D;83?I=8!
;9!;<=!A9?;83A;6!3?@6!>?!3?K!=H=?;6!>?!98@=8!;9!J>?@!3!;<>8@!M=8D9?!
A9?;83A;F3GGK6!3?!=PM8=DD>9?!97!3DD=?;!JK!DFA<!M=8D9?!>D!?=A=DS
D38KN
!
!
!
[Ue!L,/J#-,*1!=+#7%!<%!U%T%!X-#0.1,$+!B#J*Z.,2
=+#7%!K!M-051#$!?%!@#+:1/
US!&V&R&(;!"J2%!Q;!O((O
!
'
[?AR.O!5!;8FAU!@8>H=8!L3D!?9;!3!M38;K!;9!;<=!A9?;83A;!97!
A388>3I=! J=;L==?! M=;>;>9?=8OD! M8>?A>M3G! 3?@! @=7=?@3?;N! K**)0O'
`3K!<=!J=!<=G@!G>3JG=!F?@=8!;<=!3I8==:=?;m
!
'
\:]HO'-96!<=!:3K!?9;!J=!<=G@!G>3JG=N!\=DM9?@=?;!@8>H=86!
L>;<9F;!A9?A8=;=!M8997!97!<>D!?=IG>I=?A=!98!73FG;6!:3K!?9;!<>:D=G7!
/aa
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYXX
J=!98@=8=@!;9!M3K!M=;>;>9?=8N!)98!3!A9?;83A;!A3?!9?GK!J>?@!;<=!
M38;>=D!L<9!<3H=!=?;=8=@!>?;9!>;!98!;<=>8!DFAA=DD98D!L<9!<3H=!3DS
DF:=@!;<=>8!M=8D9?3G>;K!98!;<=>8!EF8>@>A3G!M9D>;>9?N!"9?D9?3?;GK!
L>;<!;<=!3A;>9?!%0*'<#$0%'&=<"*'&!$&'&)*'#0X)0'#"!0$'N%";0*$C!DFA<!
A9?;83A;!A3?!?=>;<=8!73H98!?98!M8=EF@>A=!3!;<>8@!M=8D9?N
!
!
,=;>;>9?=8OD!A>H>G!3A;>9?!3I3>?D;!;<=!@8>H=8!A3?!9?GK!J=!J3D=@!
9?!!)=N&'&X)<=<&#&6!L<>A<6!F?G>U=!!)=N&'!"#$%&!$)&=C'L9FG@!8=S
RF>8=!;<=!AG3>:3?;!798!@3:3I=D!;9!M89H=!?=IG>I=?A=!98!73FG;!9?!
;<=!M38;!97!;<=!@=7=?@3?;N!,A&=&=&*'@9'A?C'FFI'.A2?'F^G89',.00'
?%$9'I4bGC'A<@<='A";089'
!
!
!
X.#149!@,$1#7#./1/;!L,*%!<%!="
=+,#-4+!41!UJ\0-,
US!&OR('R;!X17$%!&P;!O((O
!
'
[?AR.O! ,8>H3;=! 8=DM9?@=?;! "9?83@9! @=! jFe:3?! >D! 3?!
38A<>;=A;SA9?;83A;98!@9>?I!JFD>?=DD!F?@=8!;<=!?3:=!3?@!D;KG=!97!
b>IDA9?!"9?D;8FA;>9?N!+=8=>?!M=;>;>9?=8!.>8=@K!(?;=8M8>D=D6!#?AN!
2.(#4!>D!;<=!9L?=8!3?@!@=H=G9M=8!97!]D:3=G!$>GG3I=6!3!DFJ@>H>S
D>9?!>?!.;3N!"8Fe6!`38>G39!>?![FG3A3?N!*<=!M8=D>@=?;!97!.(#!>D!
#D:3=G!(N!]3?I3N!5D!D;3;=@!>?!>;D!58;>AG=D!97!#?A98M983;>9?6!;<=!
M8>:38K!A98M983;=!MF8M9D=!97!.(#!>D!;9!3ARF>8=!G3?@D6!DFJ@>H>@=!
3?@!@=H=G9M!;<=:6!=8=A;!JF>G@>?ID!3?@!<9FD=D!;<=8=9?6!3?@!D=GG6!
G=3D=!98!9;<=8L>D=!@>DM9D=!97!D3>@!M89M=8;>=D!;9!>?;=8=D;=@!JFKS
=8DN
!
!
.9:=;>:=!J=798=!&A;N!XQc16!]3?I3!=P=AF;=@!3?!F?@3;=@!
G=;;=8!97!5F;<98>;K!2%954!3F;<98>e>?I!+=8:9I=?=D![N!.3?;9D!;9!
@9!3?@!=P=AF;=!A=8;3>?!3A;D!>?!8=M8=D=?;3;>9?!97!.(#N!*<FD6!9?!
&A;N!X/6!XQc16!.3?;9D!=?;=8=@!>?;9!3!'==@!97!5I8==:=?;!L>;<!
@=!jFe:3?N!*<=!@==@!=PM8=DDGK!D;3;=@!;<3;!.3?;9D!L3D!B8=M8=S
D=?;>?I!.(#NC!,8>H3;=!8=DM9?@=?;!L3D!8=7=88=@!;9!3D!BA9?;83A;98C!
L<>G=!M=;>;>9?=8!.(#!L3D!A>;=@!3D!BM8>?A>M3GNC!)89:!&A;N!XQc1!
;9! 5M8N! XQQZ6! @=! jFe:3?! A9?D;8FA;=@! 0a! 8=D>@=?;>3G! F?>;D! 3;!
]D:3=G!$>GG3I=N!*<>8;==?!97!;<=D=!L=8=!7FGGK!M3>@!JF;!;<=!9;<=8!
XY! 8=:3>?=@! F?M3>@N! *<=! ;9;3G! A9?;83A;F3G! M8>A=! 97! ;<=D=! XY!
F?M3>@!<9FD=D!>D!,dX06X/dNQY!L<>A<!L3D!H=8>!!=@!3?@!A9?!!8:=@!
;9!J=!A988=A;!JK!.3?;9D6!M=8!3?!3AA9:MG>D<:=?;![>GG>?I!;<3;!;<=!
G3;;=8!D>I?=@N!'=!jFe:3?!;8>=@!JF;!73>G=@!;9!A9GG=A;!;<=!F?M3>@!
3AA9F?;!789:!M=;>;>9?=8N!*<FD6!<=!>?D;>;F;=@!;<=!3A;>9?!>?!;<=!
/ac
!
58;N!XYXX
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
\*"!97!`3G9G9D6![FG3A3?!798!DM=A>!!A!M=8798:3?A=!3I3>?D;!.(#6!
]3?I36! 3?@! .3?;9D! L<9! 3GG! @=?>=@! G>3J>G>;KN! 'F8>?I! ;<=! ;8>3G6!
.3?;9D!@>D3MM=38=@!3?@!<>D!L<=8=3J9F;D!8=:3>?!F?U?9L?N
!
!
#?!>;D!@=7=?D=6!M=;>;>9?=8!M8=D=?;=@!;=D;>:9?>3G!=H>@=?A=!
;9!$/0'0SS0!$'$/&$'.:K'/&;'#"'!"#$%&!$'U<$/'H0'E)13&#!3?@!<3@!
?9;!3F;<98>e=@!.3?;9D!;9!=?;=8!>?;9!3!A9?;83A;!L>;<!3?K9?=!798!
;<=!A9?D;8FA;>9?!97!<9FD>?I!F?>;D!3;!]D:3=G!$>GG3I=N!*<=!;8>3G!
A9F8;!3I8==@!L>;<!M=;>;>9?=8!J3D=@!9?!;<=!@9A;8>?=!97!N%<@<$T'"S'
!"#$%&!$9'&?!3MM=3G6!@=!jFe:3?!9J;3>?=@!3!73H983JG=!EF@I:=?;!
789:!;<=!"9F8;!97!5MM=3GD!2"54N!*<=!"5!<=G@!;<3;!;<=!%95!@FGK!
D>I?=@!JK!]3?I3!AG=38GK!A9?D;>;F;=@!.3?;9D!3D!.(#OD!3I=?;6!L<9D=!
3F;<98>;K!>?AGF@=@!=?;=8>?I!>?;9!3!A9?;83A;!798!;<=!JF>G@>?I!97!
<9FD>?I!F?>;D!3;!]D:3=G!$>GG3I=N!"9?D=RF=?;GK6!.(#!A3??9;!@=?K!
G>3J>G>;K!798!;<=!'==@!97!5I8==:=?;!L>;<!M8>H3;=!8=DM9?@=?;!@=!
jFe:3?6! D>?A=! ;<=! D3:=! A9?;83A;! L3D! =?;=8=@! >?;9! JK! .(#OD!
@FGK!@=D>I?3;=@!3I=?;6!.3?;9DN!*<=8=!L3D!?9!?==@!798!]3?I3!
<>:D=G7!;9!J=!3!D>I?3;98K!;9!;<=!A9?;83A;6!798!<>:!3?@!.(#!;9!J=!
J9F?@!JK!;<=!;=8:D!;<=8=97N!+=?A=6!;<=!"5!>?!8=H=8D>?I!;<=!3MS
M=3G=@!@=A>D>9?!8=?@=8=@!;<=!79GG9L>?I!H=8@>A;h!5MM=GG==!.(#!>D!
98@=8=@!;9!M3K!3MM=GG3?;!@=!jFe:3?OD!A9D;D!3?@!,dX06X/dNQY!3D!
3A;F3G!@3:3I=D!MGFD!G=I3G!>?;=8=D;!;<=8=9?!789:!;<=!!!G>?I!97!;<=!
A9:MG3>?;!9?!bFGN!0Q6!XQ10!F?;>G!7FGG!M3K:=?;!;<=8=97N!5GG!9;<=8!
AG3>:D!3?@!A9F?;=8AG3>:D!38=!@>D:>DD=@N!+=?A=6!;<>D!M=;>;>9?!798!
8=H>=L!9?!!0%$<"%&%<!F?@=8!\FG=!d/!97!;<=!\FG=D!97!"9F8;N
!
!
K**)0*O'2X4!i<=;<=8!98!?9;!.3?;9D!L3D!3!@FGKSA9?D;>;F;=@!
3I=?;!97!.(#6!L>;<!3F;<98>;K!;9!=?;=8!>?;9!A9?;83A;D!798!;<=!A9?S
D;8FA;>9?!97!8=D>@=?;>3G!F?>;D!>?!]D:3=G!$>GG3I=!3?@6!;<FD6!;<=!
A3M3A>;K!;9!J>?@!.(#!;9!;<=!'==@!97!5I8==:=?;V!3?@!204!5DDF:>?I!
&%V)0#;"';<3;!.(#!L3D!J9F?@!JK!;<=!3A;D!97!.3?;9D6!L<=;<=8!98!
?9;!F?@=8!;<=!;=8:D!97!;<=!'==@!97!5I8==:=?;6!.(#!A3?!J=!<=G@!
G>3JG=!798!;<=!3:9F?;!D9FI<;!;9!J=!A9GG=A;=@!JK!M8>H3;=!8=DM9?@S
=?;!@=!jFe:3?N
!
'
\:]HO!2X4!5!H3G>@!3I=?AK!L3D!A8=3;=@!J=;L==?!.(#!3?@!
.3?;9D6!3?@!;<=!3F;<98>;K!A9?7=88=@!FM9?!;<=!G3;;=8!>?AGF@=D!;<=!
M9L=8!;9!=?;=8!>?;9!3!A9?D;8FA;>9?!A9?;83A;!;9!JF>G@!<9FD=D!DFA<!
3D! ;<=! '==@! 97! 5I8==:=?;! J=;L==?! .3?;9D! 3?@! @=! jFe:3?OD!
b>IDA9?!"9?D;8FA;>9?N!+=?A=6!;<=!>?=DA3M3JG=!A9?AGFD>9?!>D!;<3;!
.(#!>D!J9F?@!JK!;<=!A9?;83A;!;<8F!;<=!8=M8=D=?;3;>9?!97!>;D!3I=?;!
.3?;9DN
/a1
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYXX
!
!
204! *<>D!:3;;=8!>D!J=>?I!83>D=@!798!;<=!!!8D;!;>:=!9?!3MM=3GN!
)89:!;<=!;8>3G!>?!;<=!\*"!;9!;<=!3MM=3G!J=798=!;<=!"56!;<=!3GG=I=@!
H>9G3;>9?!97!;<=!'==@!97!5I8==:=?;!JK!@=!jFe:3?!L3D!?=H=8!MF;!
>?!>DDF=N!+=8=;9798=6!;<=!DFJD;3?A=!97!M=;>;>9?=8OD!@=7=?D=!J=798=!
;<=!A9F8;D!&'X)"!A9?D>D;=@!97!>;D!@=?>3G!97!3?K!G>3J>G>;K!F?@=8!;<=!
'==@!97!5I8==:=?;N!*<FD6!B3!RF=D;>9?!;<3;!L3D!?=H=8!83>D=@!>?!
;<=!A9F8;D!J=G9L!A3??9;!J=!3GG9L=@!;9!J=!83>D=@!798!;<=!!!8D;!;>:=!
9?!3MM=3G!L>;<9F;!977=?@>?I!J3D>A!8FG=D!97!73>8!MG3K6!EFD;>A=6!3?@!
@F=!M89A=DDN!.FA<!3?!>DDF=!L3D!?9;!J89FI<;!;9!;<=!798=!=>;<=8!>?!
;<=!;8>3G!A9F8;!98!;<=!"56!3?@!L9FG@!<3H=!J==?!@>D8=I38@=@!JK!
;<=!G3;;=8!;8>JF?3G!798!;<=!8=3D9?D!M8=H>9FDGK!D;3;=@N!i>;<!:98=!
8=3D9?6!;<=!D3:=!@9=D!?9;!@=D=8H=!A9?D>@=83;>9?!JK!;<>D!"9F8;N!
,.&!'!'?=!&#'g'A<0'@9'K3N0%<&='f0V0$&>=0'Q<='A"9C'K#!9C'F^^'.A2?'
^^7'`IJJ4a89
!
!
,=;>;>9?=8!.(#!>D!98@=8=@!;9!M3K!@=!jFe:3?!3A;F3G!@3:S
3I=D!>?!;<=!3:9F?;!97!,dX06X/dNQY6!L>;<!G=I3G!>?;=8=D;!;<=8=9?!
789:!;<=!;>:=!;<=!A3D=!L3D!!!G=@!F?;>G!>;D!7FGG!M3K:=?;N
DOE! @`*17$.+,/!$+!$81!T#.,*.7:1!+3!S1:-$.<.$9
234! i<=8=! ;<=! 9JG>I3;>9?D! 38>D>?I! 789:! ;<=! A9?;83A;! 38=! ?9;!
;83?D:>DD>JG=! JK! ;<=>8! -5*T\(6! JK! .*#,T%5*#&-6! 98!
JK!,\&$#.#&-!&)!%5iN!,?%$9'4F44C'A<@<='A";089
2J4! i<=8=!;<=8=!>D!3!.RK_d]?RKQP'_Qd2'?dR2dK!23!D;>MFS
G3;>9?!>?!73H98!97!3!;<>8@!M38;K4N!,?%$9'4F44C'A<@<='A";089
2A4!
i<=8=!3!;<>8@!M=8D9?!>?@FA=D!3?9;<=8!;9!H>9G3;=!<>D!A9?S
;83A;N!,?%$9'4F4-C'A<@<='A";089
2@4! i<=8=6!>?!D9:=!A3D=D6!;<>8@!M=8D9?D!:3K!J=!3@H=8D=GK!37S
7=A;=@!JK!3!A9?;83A;!L<=8=!;<=K!@>@!?9;!M38;>A>M3;=N!,.00'
?%$*9'4F4IC'I4^JC'I4^4C'A<@<='A";0W'?!$'47^GC'$/0'K#*"=@0#!T'
]&UW'&#;'20N9'?!$'5b^89
2=4! i<=8=!;<=!G3L!3F;<98>e=D!;<=!A8=@>;98!;9!DF=!9?!3!A9?;83A;!
=?;=8=@!>?;9!JK!<>D!@=J;98!,(?!!<"#'H<%0!$&+89
D'E! H./*J//.+,!+3!$81!U1,1#-:!SJ:1
234! B"9?;83A;D!;3U=!=77=A;!9?GK!J=;L==?!;<=!M38;>=D6!;<=>8!3DS
D>I?D6!3?@!<=>8DC!,?%$9'4F44C'A<@<='A";08C'3?@6!;<=8=798=6!
I=?=83GGK6!>;D!;=8:D!A3??9;!@=;=8:>?=!;<=!8>I<;D!97!;<>8@!
/aQ
!
58;N!XYXX
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
M=8D9?DN!,B&)$<*$&C'0$'&=9'@9'D);V0'_<V)<#VC']64JJJGC'Q!$9'
F4C'47^bW'_/<=9'P&$9'B&#Y'@9'])1"#'.)%0$T'A"9C'K#!9C']6444IC'
c&T'I5C'47^5W'&#;'P&$9']&>"%'d#<"#'@9'K#$9'Q<='[&!$"%TC''
]64F5-^C'c&T'FJC'47GJ8N!*<=!8=H9A3;>9?6!798!=P3:MG=6!97!3!
@==@!97!D3G=!>D!?9;!A9?AGFD>H=!9?!;<9D=!>?@>H>@F3GD!L<9!38=!
?9;!M38;>=D!;<=8=;9N!,20&='c"#&*$0%<"';0'=&'_)%<*<3&'A"#6
!0N!<"#'@9'H"3<#V"'[&><&#C'0$'&=9C']6I5-bJC'.0N$9'47C'47G589'
+9L=H=86! 3! M=8D9?! L<9! ;3U=D! 3@H3?;3I=! 97! 3! A9?;83A;6!
3G;<9FI<!<=!>D!PQR'3!D>I?3;98K!;<=8=;96!A3?!M89M=8GK!J=!
>")#;'JK!;<=!;=8:D!;<=8=97N!+=!A3??9;!;3U=!3@H3?;3I=!97!3!
A9?;83A;!L<=?!>;!DF>;D!<>:!;9!@9!D96!3?@!8=E=A;!>;D!M89H>D>9?!
L<=?!<=!;<>?UD!9;<=8L>D=N!,P"%$/0%#'c"$"%*C'K#!9'@9'_%<#!0'
]<#0C']64F55-C'[0>9'I7C'47GJ'&#;'A0#"#'f<==&#)0@&'@9'B&%6
>0%6e<=/0=3*0#']<#0C'0$'&=9C']64-bG-C'P"@9'IFC'47GJ89
2J4! 20&*"#*'S"%'$/0'%)=0O
!
'
(20*'<#$0%'&=<"*'&!$&'&=<<*'#0X)0'#"!0$'N%";0*$9+'2*<=!
3A;6!@=AG383;>9?6!98!9:>DD>9?!97!3?9;<=86!A3??9;!377=A;!3?S
9;<=86!=PA=M;!3D!9;<=8L>D=!M89H>@=@!JK!G3L!98!3I8==:=?;N4'
,.00'.0!9'I^C'2)=0'4FJC'20@<*0;'2)=0*'"S'A")%$89
'
'
:M&3N=0O!#7!#!M89:>D=@!;9!JFK!`8N!jh*'G3?@6!3?@!`8N!j!
M89:>D=@!;9!D=GG!;9!:=!;<=!D3:=6!:K!78>=?@!k'A3??9;!>?D>D;!
;<3;!;<=!A9?;83A;!J=!M=8798:=@N
!
!
@:!^+2-#![.:.7.,+!<%!",21:1/
MN&&Q&';!X17$%!'(;!&R)W
'
'
[?AR.O!?!L3D!3!D;9AU<9G@=8!>?!3!:F;F3G!JF>G@>?I!3?@!
G93?!3DD9A>3;>9?N!+=8!D<38=D!:3;F8=@!>?!XQdZ6!3?@!789:!
;<3;!;>:=6!D<=!A=3D=@!;9!J=!3!D;9AU<9G@=86!3?@!>?D;=3@!J=S
A3:=!>;D!A8=@>;98!798!;<=!H3GF=!97!<=8!D<38=DN!5;!;<>D!M9>?;6!
;<=!97!!A=8D!3?@!:=:J=8D!97!;<=![938@!97!'>8=A;98D!=?;=8=@!
>?;9!3?!3I8==:=?;!L>;<!;<=!"=?;83G![3?U!A9?A=8?>?I!;<=!
8=H3GF3;>9?!97!;<=!D<38=DN!K**)0O!#D!?!J9F?@!JK!;<=!3A;!97!
;<=!"98M983;>9?!25DD9A>3;>9?4m
!
'
\:]HO!-96!J=A3FD=!3;!;<=!;>:=!97!3I8==:=?;6!D<=!L3D!
?9!G9?I=8!3!D;9AU<9G@=8!3?@6!;<=8=798=6!;<=!97!!A=8D!3?@!;<=!
[938@!97!'>8=A;98D!<3@!G9D;!;<=>8!M9L=8!;9!8=M8=D=?;!3?@!
J>?@! <=8! >?! A98M983;=! ;83?D3A;>9?DN! *<=! 3I8==:=?;! @9=D!
?9;!J>?@!<=8!F?G=DD!D<=!83;>!!=D!;<=!3I8==:=?;!=PM8=DDGK!
98!>:MG>=@GKN
/cZ
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.!
58;N!XYXX
!
!
2PQR:O!#?!;<>D!A3D=6!>;!>D!AG=38!;<3;!J=>?I!3!D;83?I=8!
;9!;<=!A9?;83A;6!D<=!L3D!?9;!J9F?@!JK!>;N4
!
!
2PQR:O!5!@==@!97!3DD>I?:=?;!97!M89M=8;K!?9;!8=I>DS
;=8=@!@9=D!?9;!3?@!A3??9;!M8=EF@>A=!98!73H98!D;83?I=8D!;9!
;<=!3I8==:=?;N4
!
!
Y+5./!<%!T#+<.,*.-:!X81#.33!+3!=-0-#.,1/!A+#$1
US!ORW'W;!?-#%!&W;!&RW'
!
!
5!L8>;!97!=P=AF;>9?!L<>A<!D==UD!;9!=?798A=!3!EF@I:=?;!
J3D=@!9?!A9:M89:>D=!A3??9;!J=!=?798A=@!3I3>?D;!3!M=8D9?!
L<9!>D!?9;!3!M38;K!;9!D3>@!A9:M89:>D=!23G;<9FI<4!<=!:3K!
<3H=!J==?!3!M38;K!;9!;<=!3A;>9?N
2A4!
.;83?I=8D6! ;<=8=798=6! !&##"$' V0#0%&==T! @=:3?@! ;<=! =?S
798A=:=?;!97!3!A9?;83A;!,c&#<=&'2&<=%"&;'A"9'@9'A"3N&#<&'
R%&#*&$=&#$<!&C'F5'_/<=9'5b^8W!?98!A3?!;<=K!@=:3?@!>;D'3?S
?FG:=?;',?T*"#'@9'A")%$'"S'?NN0&=*C'E2']6G^J4'&#;'G^JJW'
c&T'I4C'47^^8W!?98!38=!;<=K!J9F?@!JK!;<=!D3:=N!,A0=<*'@9'
B0#0;<!$"C'Q9E9'c&%!/'GC'47-4C'N9'G^I'&#;'5'c&#%0*&'GFJ6
GF489
!
!
?-,.:-!S-.:#+-4!=+%!<%!=+07-,.-!B#-,/-$:-,$.*'W!T8.:%!WP)
!
'
[?AR.O!?!D<>MM=@!<>D!A38I9!>?!Bh*!H=DD=GN!B!3?@!Ah*!
A9:M3?K!=?;=8=@!>?;9!3!A9?;83A;!798!Ah*'A9:M3?K!;9!)#="&;!
;<=!A38I9!789:!;<=!D<>MOD!<9G@N!#?!;<=!G>7;>?I!9M=83;>9?D6!
?h*!A38I9!L3D!@3:3I=@N!K**)0O!`3K!?'DFAA=DD7FGGK!DF=!Ah*'
A9:M3?K!798!@3:3I=Dm
!
'
\:]HO!-96!798!;<=8=!L3D!?9!A9?;83A;!J=;L==?!5!3?@!
Ah*!A9:M3?KN!?h*!8=:=@K!>D!;9!I9!3I3>?D;!B9
!
!
=1:./!<%!Y1,14.*$+
>%U%!?-#*8!Q;!&RV&;!7%!Q)O
!
'
[?AR.O!?!G=3D=@!<>D!M89M=8;K!;9!BN!B!DFJG=3D=@!M38;!97!
;<=!M8=:>D=D!;9!A9'B!H>9G3;=@!;<=!A9?@>;>9?D!97!;<=!G=3D=6!D9!
?!L3?;=@!;9!8=DA>?@!;<=!G=3D=!A9?;83A;N!A!9JE=A;=@!J=A3FD=!
>7!;<=!G=3D=!>D!A3?A=GG=@6!;<=!DFJG=3D=!L9FG@!?3;F83GGK!J=!
377=A;=@N!K**)0O!i>GG'Ah*!9JE=A;>9?!M89DM=8m
/cX
!
58;N!XYXX
"#$#%!"&'(!&)!*+(!,+#%#,,#-(.
!
'
\:]HO!-96!J=A3FD=!?!>D!?9;!>")#;'JK!;<=!DFJG=3D=6!
>?3D:FA<!3D!<=!@>@!?9;!M38;>A>M3;=!;<=8=>?N
!
!
!
^+J/1!L,$1#,-$.+,-:!YJ.:4.,2!B1,-,$/
"//+*.-$.+,;!L,*%!<%!L"=
US!P)OWP;!IJ,%!'(;!&RWP
!
'
[?AR.O!*9!D=AF8=!M3K:=?;!97!<>D!9JG>I3;>9?!;9!;<=!
j.#.6!)5!:98;I3I=@!3!M38A=G!97!G3?@!3?@!3!XdSD;98=K!JF>G@S
>?I!9?!D3>@!G3?@N!57;=8!;<=!j.#.!798=AG9D=@!;<=!:98;I3I=!
3?@!37;=8!>;!<3@!A9?D9G>@3;=@!9L?=8D<>M!>?!>;D!?3:=!^<909C'
37;=8!)5!73>G=@!;9!8=@==:!;<=!M89M=8;K_6!;<=!j.#.!D9G@!;<=!
M89M=8;K!;9!"(-*(\*&i-!F?@=8!3!@==@!97!A9?@>;>9?3G!
D3G=6! L>;<9F;! ?9;>A=! ;9! ;<=! ;=?3?;D! 97! ;<=! JF>G@>?I! 3?@!
L>;<9F;!D=AF8>?I!M8>98!AG=383?A=!97!;<=!`>?>D;8K!97!+F:3?!
.=;;G=:=?;DN![=A3FD=!"(-*(\*&i-!>D!?9;!3F;<98>e=@!
;9! =?I3I=! >?! 8=3G! =D;3;=! JFD>?=DD6! >;! 98I3?>e=@! 3! D>D;=8!
A98M983;>9?6!*&i(\.6!;9!=?I3I=!>?!8=3G!=D;3;=!JFD>?=DDN!
%3;=86!"(-*(\*&i-!3DD>I?=@!;9!*&i(\.!3GG!>;D!8>I<;D!
3?@!9JG>I3;>9?D!F?@=8!;<=!'==@!97!"9?@>;>9?3G!.3G=6!L>;<!
;<=!A9?D=?;!3?@!3MM89H3G!97!;<=!j.#.N
!
!
*<=! 3DD9A>3;>9?! 97! ;=?3?;D! 97! ;<=! JF>G@>?I! DF=@!
"(-*(\*&i-6!*&i(\.6!3?@!j.#.!798!3??FG:=?;!97!;<=!
@==@!97!A9?@>;>9?3G!D3G=!3?@!;<=!DFJD=RF=?;!3DD>I?:=?;!97!
;<=!D3G=!JK!"(-*(\*&i-!;9!*&i(\.6!9?!;<=!I89F?@!
;<3;!;<=!D3G=!>D!$&#'!&>'<#<$<"'J=A3FD=!>;!>D!)=$%&'@<%0*C'D>?A=!
"(-*(\*&i-!>D!?9;!RF3G>!!=@!;9!3ARF>8=!8=3G!=D;3;=!98!
=?I3I=!>?!8=3G!=D;3;=!;83?D3A;>9?D6!3?@!3GD9!J=A3FD=!B>;D!
A9?D>@=83;>9?!>D!>GG>A>;C!MF8DF3?;!;9!58;N!XdZQN
!
'
\:]HO!*<=!*=?3?;OD!5DD9A>3;>9?!>D!?=>;<=8!3!M38;K!?98!
3!M8>HK!