Sei sulla pagina 1di 39





 !" #$%$&'& ()

## *+,$-. *
,
0/'11234
65798: #;
<>=@?BA:CD?BEGFABH@HJILKNM=POQABCRD=PSTUF=WVABCXYM%E0Z%M%EQM[B=7E\S]EUF%E
^_XQMF%EQ[:=@XYMAa`+EbCD=POQABCXYM%EGAa`cXYMRDXQCD[B=PXdeABC.fQH@=
g SDhF= KNM=POQABCDR=PSEQCD=W=PMiVABCDXQM%E
j
klnmjoEbpqXYCDEbSXQCD=@X"k'M%EQHP=@R=
lrEbSDABC=7EQHP=
KsM=tOYA:CDRD=tS]T0F=WVA:CDXYM%E;u_`+TGV'=@fYMEQH
v
w CD=PxX0CDEQddeXYCSDXyF=
CD=@?:ABC?6E
z'=@?:ABxUpCA{vQ|Y|}v

 

 !"

#
$&%'" (*)+,- !. 0/"*)132! 426578(2!29( 632 ! 6  6)1 :2!2
; 3" !-
<
=?>A@CBEDGF:HIFJGJGKL>M>N>M>N>N>M>N>O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N> P
=?>Q=SR8KIT?F:U3VWAX:WAYVFZTF:[\HIY?T?F:[A[]Y >M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N> P
=?>Q=?>A@ ^_V3K`[AWAJaWTF:[A[AKI[AFcbabaF:DdK+bGeDdKfJag:W]FV-bGWhU.g:KfDGF:[iK+bGW]j+KfK`[A[iKI[]Y?g:K[]WAX:XK+k
XW]Y-VFNT?F:[A[AKl[Ae3gcFm>O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N> P
=?>Q=?>Q= ^_V3K`[AWAJaWnT?F[][iKI[]F:bobGF:DdK+bae3DGKlJoe3[][AYfJagK+bobGF:DGW]V3plF[AK-JqbGWAg:YfTKlr3K`DabaF
T?W8rWAggcY-[]FMr3KDobGWAg:F:[A[]FfstV"K`VY-pDdK`Ve[AWiuv>N>O>N>N>M>N>M>N>M>N>N>M>N> w
=?>Q=?> x yzFcU3V3W]XW]Y-VF{T?F:[|HIYTF:[A[]Y}T?W|JagK+bobGF:DGW]V3p~r"FDZ[AK~g:F:[A[AK~K~g:Y[AY`k
DdK`V*baFOYDGp-KVWigcY >O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N> w
=?> xSgcDGWAJobGK[][AWtY`bGYVWigcW0>N>M>N>O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>
#S%'" (*)+,- !. |")1 1

x>A@LW]3FJGJaW]Y-VW8Jae[][AFZgcF[][AFZT?WODdK`F:baXF:[?Y+j*j-F:DGY'r.F:DdgdN*eFJobaFZg:F:[A[]FMte3V?k
X:WAYV"K`VYl"FVF>M>N>N>M>N>O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>
x>Q= ?gK+bobGF:DGW]V3pITF:[A[AKl[Ae3gcFZTKIJaer.F:DaU"gcWnFNg:DaWiJqbdK`[A[]W_>O>N>N>M>N>M>N>M>N>N>M>N>
x> x R8K1j-YDGYDGFK[]WAX:XK+baY>N>M>N>O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>@1=
%'" (*)+,- !. .58, "2!

?<
>A@|YV"JoWiT?F:DdK`XW]Y-VWpFVF:DdK`[AWEFfDGWh"FJGJoWAYVW|Joe[A[ WAV3*e3KTDGKHlFV*baY}T?F[rDGY`k
[AF:HfKfTK[\reV*baYfT?WnjWiJqbdKIgcYHIrebGK`XW]Y-V3K`[AF>N>O>N>N>M>N>M>N>M>N>N>M>N>@1P
>Q= |[iKJGJoW]U"g:KX:WAYVFETF:[rDGY[AF:HfKvK[][ WAV*baFDaVYzT?F:[A[AKvbaFYDGWAKvTF:[A[AKzgcYHIr[AFJok
JaWhbd>N>N>M>N>M>N>M>N>N>M>N>O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>@w
> xSHIr"Y*JqbdK`XW]Y-VFZT?F:[rDGY[AF:HfKfT?W8baDGY+j1KDaFN[iKfJobaDGe?bobGeDGK{Y`bobGW]HfK[]FZT?F[][AF
gcF[][AFZKIgcY-[]Y-DGKV-bGF_Y-Dap*K`VWigcY >M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>@
> F:baY?T?WnFjY[AeXW]Y-VWAJobaWigcWr.F:D[ YbobGW]HIWAX:XKX:WAYVFNT?F[][AFNgcF[][AFNKlg:Y[AYDdK`V*baF
YDGp-KVWigcY>N>M>N>M>N>N>M>N>O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>@
>QPSR8K1j-YDGY'K`bobae"K`[AFOFZJajW][Aerr.YfJoe"g:gcFJaJaWAjY>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>=
<&%'" (*)+,- !. :|-)+ 572
$"$
P?>A@LR8K1j-YDGY'T?W8[AK"Y-DGK`baYDGWAY~>N>O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>=-=
P?>Q= WigcDGY-JGgcY-rWAKlK'tYDGXKlK+bGYHIWAgKs!^_ u>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>=x
@

P?> x | Y[AYDdK`V*bGFzY-Dap*K`VWigcY >M>N>O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>=-P


P?> BY [AW]HIFDaWng:YV3T?ebobaY-DaW|>M>N>O>N>M>N>N>M>N>M>N>M>N>O>N>N>M>N>M>N>M>N>N>M>N>=*
 !)+"" 48")+,  .57 !-
$3
 )+-. t.  `)+"" !   
#n

% \|-:)+ ( "
)  570( 2 .2!")+

#.$
\)+8)10./")13\2 (2!248*
)  !~-?
#3

 

 

   

R8KIDGWigcF:Ddg:KlJae[][AFg:F:[A[]FZJaY[iK`DGWnKfgcY-[]Y-DGKV-bGFMYDGp-K`V3WAg:YNWAVWAX:WiK+bGKIe!fg:WAK[]HIFV-bGFZVF[8JoF:bok
baFHDGF4T?F[O=-=0HfKWA[_[iK1jY-DaY3K K1j*ebaYF#"FcbabaWAj+K`HIF:V*baF0K1jj*WAYVF[][ YbobGYDGF}gcY-V
[ KDaDGW]j-Y'T?FWnDGWAg:F:Ddg:K+bGYDGW"FJqbGF:DGVW>
["r3DaWAHIYr.F:DGW]Y?T?$Y OJqbdK+bGY'T?FT?WAgK+bGYK`[A[AKT?FcU3V3W]XW]Y-VFzT?F[HlY?T?F[][AYNbGF:YDGWigcYT?W.WAV-bGFck
DdK`X:WAYV3F_[Ae3gcF:k g:F:[A[AK3K`[.U3VFNT?WnWAV3T?WAjWATe3K`DGFzW\r"K`DdK`HIFcbGDaW.tYV"TK`HIF:V*bdK`[AWT3KlJaY`babaY-r"Y-DaDGF
K`[rDGY?gcFJaJaY'T?W\YbobGW]HIWAX:XKX:WAYVF->^_[baFHlr.YfJqbGFJGJoY"% MJobGK`bGKlK`V3K[]WAX:XK+bdKZ[iK[AFcbabaF:DdK+bGeDdK
JGgcWAF:V*baW]U"g:KODGF:[iK+bGW]j+KOKNJojWA[]er3rW?DaFgcFV-bGWJo'e &)(+*-,+.0/21314*65#72.07289*:&)* *g:Y[AYDdK`V*baWYDGp-KVWigcW+jFcbGDaW
gcY-V3T?e?babaY-DaWF:[AFcbobGDaY-[]W]bGK3>Vr"K`DabaWigcY[iK`DGFzJaYV3YlJobGK`baWnK`V"K`[AW]XXK+bGWWnJoFpeFV-bGW\KJar"F:boba<W ;@u
[AY{JagK+bobGF:DGW]V3p{T?F:[A[AKI[Ae3g:FTKfJaer"FDoU.gcW8FZg:DaWiJobGK`[A[A>W ==uK-g:*eWiJoWAX:WAYVFNT?WgcY-[]Y-DGKV-bGWngcY-H'k
HIF:DdgcWiK`[AW.K'3K-JoFMT?WneFODGWigcF:Ddg:KT?F:W\[AYDGYrDGY`bGY?gcY[A[AW.T?WnJaWAV-bGFJaWDGWAg:F:DdgdF_r3DaF[]WAHIW]V3KDaW
T?WgcY-[]Y-DGKV-bGFK`[]baFDaV"K+baWAjWK-e3F:[A[]WK{3K-JoFlT?WDae?bGF:VWAY FJqbGDGK`bobGWTKJoY*JqbdK`VXFZV3K`baeDdK`[A>W =
x-uvDaWigcFDGgd3FZT?WF:[AFcbobGDaY-[]W]baWbaDdKJotF:DGW]baYDGW8T?Wg:KDaWig:K{F'T?F[][iK g:Y-JobaDGeX:WAYVF'T?We3V3K{)F fgKg:F
WAV-bGF:Da!KggcWiKzY*JaJaWiT?YZT?WbGWhbdK`VWA%Y ?+F:[AFcbabaDGY[AWhbd!K = uKg*eWAJaWAX:WAYVFvTK[][iKM[AFcbobGF:DdK+bGeDGKNT9W @VBY A
BY A TW"bGFg:VWAgd3FMTWnT?F:r.Y-JaW]XW]Y-VFzTWnJqbGDGK`baW\g:Kr?bGKV-bGWFOT?F[][iKl[]Y-DaYlK`V3K[]WiJaW"HIYDatY[AYp-WAgK
K`[A[iK JGg:K`[iK TF:WV3KVYHIFcbGDa<W =P-u_T?Wg:Y-JobaDGeX:WAYVFlT?WjF:baDGWgcYV"T?e?bobGYDGWnTWDGFK[]WAX:XK`XW]Y-VF
T?WF[]F:bobGDaY?T?W3baDdKJar3K`DGF:V*baW?g:YVfK`V3K[]WiJaW3T?W3r.Y-JGJaW]WA[AW3Kg-e3WAJaW]XW]Y-VFT?W3r.F:XX:W3g:YHIHIF:DdgcWiK`[A>W =
w-ug:YV3JaWATF:DdK`X:WAYV3FOT?WnJobaDGe?babaeDGFZKIgcDGWAJobGK[][AYtYbaY-VWAg:YfgcYHIFNJaer"FDoU.gcWAFZg:K`rbGK`V*bGF>
y_WbaebobaWWJae3ggcW]bGK+bGWK-Jor.FcbabaCW JqbdK+bdKIDGK-g:gcY-[hbdKlFT}KV3K`[AW]XXK`bGKleV3KfFJaKeDGW]FV-bGFZT?Y`k
gce3HlFV*bGK`XW]Y-VFMWA[]WAYp-DGK`U"g:KIT?F[][ KJar"F:bobaY{JGgcWAF:V*bGWhU"g:YIFT?F:W8j1KDaW8[AK"Y-DGK`baYDGWHIYV3T?WiK+k
[AW|WAHIr"FpV3K`baWVF:[A[]FDaWigcFDGgd3F>4yzWYpVeV3Y4T?F:WreV*bGW|F[]FV3g:K`baWj*WAF:V3F rDGFJaF:V*bGK`baY}e3V
reV*bGe3K`[AFMDaFV3T?WigcYV*bGY3>
_rDGWAHlWDGWAJae[]bGK`baWY`babaF:Ve?bGWEgcY-V3JoFV*baYV3YT?WWAV3T?WADaWAX:XK`DGF'WA[[AK1j-YDGYfte?bae3DaY[]e3VpY[]F
JaF:pe3F:V*baW\[AW]V3F:FD;
E [iJoK4baDGe?g:F:ba[Aba[AeK4DdKjW]r.FVF:DGFWAYHITWAY?gT?K'FT?[][AWW]XHfXK`K+bGbGK}F:DGg:WAKY[]HIWF T?WAF:e[AFV Fcbaba&#DG(+WA*-g:,+W.G?/BWA13V1H7Ip-5#DG7BK-.GT?7BY89*:T?&JW\7`HfEY+K-jJajJaW]F:HIDGY}WAX:XgcY-K`HIDGFvF [ #FeIkV3K
g:W]FVXKfTW8g:K`bobae3DGKfT?F[][iKI[Ae3gcFZTKIr"K`DabaFNT?F:[A[AFZHIY[AFgcY-[]FNT?WgcY[AYDdK`V*bGFzY-Dap*K`VWigcY"
FjFV-bGe3K`[AHIF:V*baFNJotDaebobGKV3T?YltF:V3YHIF:VW8[]Fp-K+bGWnK`[A[AKl[AY?g:K`[AWAX:XKX:WAYVFOT?F:[A[iKI[]e3g:FD=
E [iJaK WNK`teHIVrX[AW]WAY-K VF7[AY T?JaWr"gF:K+bobGbaDabaYeDdT?KF:M[A[ArF0DGF:HIV3TY-F:[]FV3gcT?YY [AF6WAVTWZgcgcY-YV3[AYJoWiDdT?K`FV*DGbGKF}X:WAYYDGVp-FKVK`WAV3g:gdY 3Fg:KKV3V*T?baWiY?TgcK+WibGK`F0VWNK[hF k
bdK`[AY?gcWiK`VWAVFD=
x

YVF'T?F:WjF:baDGWgdFlgcY-JobaW]bae3WAJGgcY-VYfp[AW8F[]F:bobaDGY?T?WgcYV"JoWiT?Fck
E DdaJ W`K V"HlT?WAYIp[A[WAYW]HIDdKIr[AWAK{F:p-g:YfYV3T?TWne X:WA
s!V3T?WAeHlkbGW]VkY ?WiT?Fu#=




E .r-K g:F:gD4K`V*[ baF:YI[AFcK`baba[\DGbGYDG[AK-WhbdT?KWAMX:WAYJoWZV3Kg:[]YFOV3F:Ja[AWAFcTbaF:baDdDGK Y[AWhWAbd[NKlDaWiKgc[]Y-[AYlDGJaW]Y Y?T?K WAY3r.> Y[AW]HIFDaWMbGDGK-JqtFDaW]baY-DaWNT?WgK`DGWAgK

JqbdK+bdK}T?FcU"VWhbdK}[iK}JobaDGe?bobGeDGK}Yr.F:DdK+baWAj+K~T?WT?FcbabGK`p-[]WAY4T?F[][iK~DGWAg:F:Ddg:KFKJGJoFpV3K`baWEW
cg Y-HIrWhbGWW]V"T?W]jWiT?e3K[]WET?FWET?WAjF:DdJaWJaYp-pF:bobaWgcY-W]Vj-Y[]baW>lY-VYJobGK`baWrDGFJaWgcY-V-bdK+babaWgcY-V
[AF _VWAjF:DdJaWhbdlTWnBKT?Y+j+K'FZT?WnFDaDdK`DdKr.F:Dvg:Y[A[AK"Y-DGKX:WAYVWJaeK-Jor.FcbabaW8Jar.FgcW]U"g:WnT?F:[A[AK
gcY*JqbGDae3X:WAYVFMT?F:[A[AFZgcF:[A[AF>




 


               



           
        
  !

?g:Yr.YZT?W"*eFJqbGYZg:K`r3WhbGY[AY _T?W3HIF:bobaFDaF_W]VfFj*WiT?FVXKNK[Ag:eVW"KHW]baW"T?F:["[AK1j-YDGYOJajY-[hbGY
`K [A[ WAV*baF:DGVYMT?F:[A[iK_DGWAg:F:Ddg:KOJoe3[][AFgcF:[A[AFKOgcY-[]Y-DGKV*baFY-Dap*K`VWigcYzW]VIgcY-DGJaY_r3DaFJaJaYz[ vVWAjFDGJaWhk
bG_T?W#"FDaY-V3KR8K`.YDdK+bGYDGW]Y^_V3K`[AWAJaW K+baFDaWiK`[AW:WAVNr3K`DabaWigcY-[AKDaF*eF:[A[AW-gdFJaWDGW]tF:DGWAJGgcY-VY
K`[\HIY?T?F[][AYlbaF:Y-DaWigcYfT?W\WAV*baFDGKX:WAYVFM[Ae3gcF:k g:F:[A[AKlKT?YbobdK+baY">


$ %&(')+*-,).0/1.324,)5'6 7829') 70732

lreV*baWvr3DaFJoWWAV FJGK`HIF}TK`[p-Dae3rr"YT?W_DaWigcFDGgK6r.F:DK`DGDaWAj+K`DGFK`[A[iK0TFcU3VWAX:WAYV3F}T?F:[
HIY?T?F:[A[]Y baFYDGWAg:Y T?WMW]V*bGF:DdK`X:WAYV3F}[]e"gcFckgcF[][iK_F:[AF:HIF:V*baY 3KJaF}r.F:D[iK7rDGYp-FcbobdK`XW]Y-VF
Y`babaWAHIW]XXK+bdKIT?F:[A[]FNg:F:[A[]FZJobaFJaJaFJaYVYIJobGK+bGWnW8JaF:p-eF:V*baW<;
E KV3K`[AWiJoWnT?F[][iKl[]F:bobGF:DdK+bae3DGKIJGgcWAF:V*baW]U"g:KlDGF:[iK+bGW]j+KlK`[A[AKl[AYgK`[AW]XXKX:WAYVFMT?F:[A[iK'[Ae3g:FD=
E Kg:F:V3[AK`[]F{[AWiJos!W8V3TK`V3F:[AY[AKIpDd[AK`FcVbabaeF:[ADdW u+K+= bGeDdKlJae[A[]Y{JGg:K`bobGF:DGW]VpIF[AK-JqbGWAg:YIT3KIr3K`DabaFZT?W8rWAggcY-[]FNr3KDobGWhk
E TFcU3VWAX:WAYV3FZT?F:[\HIY?T?F:[A[AY{T?W8JGg:K+babaFDaWAVplr"FD[AKfg:F:[A[AKIKIgcY-[]Y-DGKV-bGF_Y-Dap*K`VWigcY">

:+;<: ;>= ?A@CBED>F>GHF ICJ!D>D>BKD>JMLHLNJPOQBLQROQBKGHSMFTJ!@1LQFVUWSXBYOQJDTBLQFVZ[BYBED>D>B\D>] SXB!^


D_FT`M`MB[`PFT]1@JaICJ!D>D>BbD>RcSXJ

8R K []Y?gK`[AW]XXK`XW]Y-VFT?F[][iK[]e3g:FIT?WWAV-bGF:DGFJGJoF'r"FDMW][VY*JqbGDaYJqbGe3T?WAY r.F:DdgdnJaF'Krr[AWhk
g:KWA[]FZK[][AFgcF[][AF"HIFcbobGF:DGF:.F'K T?WAJar.Y-JaW]XW]Y-VFZT?F:[A[AFZHIY[AFgcY-[]FZTWgcY-[]Y-DGKV*baFMYDGp-KVWAg:Y
eV3K6r3KDobGFgcY-V3JaWAJobaFV-bGFJaFVYV [ W]V*bGF:DdK6*e3KV-bGWhbd4T?F[][iK6[]e3g:FW]V3g:WATF:V*baFJoe3[][AFg:F:[A[]F
P

JobaFJGJaF>V{K`[]baDGW?baFDaHIWAVW*JoW vWAV3T?WAj*WiT?e3K`baYNWA[tFVYHIF:V3YZT?F:[A[AKZ[]Y?g:K[]WAX:XK`XW]Y-VFT?F:[A[AKM[Ae?k
gcFMgcY-HIF_eVr"Y*JaJaW]3W][AFzr3DaY?gcFJaJaYZWAVp-DGK-T?YT?W\TKDaFOgcY-V-bGDaWAe?bGWY3?K`[AHIF:VY"*WAV3T?Wig:KX:WAYVW
Jae}gcYHIFZYbobGW]HIWAX:XKDaFN[AY JGg:K`bobaFDaWAVpfF[AK-JqbGWAg:Y{T?F:[A[AK{[]e3g:FTKfr"K`DabaFZT?WV3K`V3YpDdK`Ve[AWnT?W
W _K`[3U3VFMT?W"!K1jYDGWADaF[iKZg:K`bobGeDGK'T?F:[A[iKN[]e"gcFzT3KZr3KDobGFzT?F[][AF_HIY[AFg:Y[AF_T?WgcY-[]Y-DGKV-bGF
YDGp-KVWigcYIrDGFJaF:V*baWJoeWV3KVYp-DGKV*e3[]WnJobaFJaJaW>zy_WgcY-V3JoFpeFVXKfJaW 'rDGFJGKfW]V4FJGK`HIFN[AK
j+KJobGK[AFcbabaF:DdK+bGeDdK~rDGFJaF:V*baF{Jae[A[ K`DGpY-HlFV*baY3> vV FJGK`HIF{rDGF:[AW]HIWAV3K`DGFf3K~HIFJaJaY}WAV
F:jWiT?F:V3XKzW][?!K`bobGYZgdF[AKODGWAg:F:Ddg:KvWAVf*eFJobaYNg:KHIr"YNJobGKOYDGW]FV*bGK`V"T?Y-JaWjF:DdJaY_[ KV3K`[AWAJaWT?W
,+.>( .<. ( 72(B*38 /B.c>VWAX:WiK`[AHIF:V*baF--W3tF:VY-HlFVW"TW3[AYgK`[AW]XXKX:WAYVFF:DdK`V3YZJqbdK+baW"rDGF:jWAJobaW
jFDaW]U"gK`DdJoWWAV HIFX:X:W\T?WiJaYDdT?W]V"K+baW>EWDaW]baFVF:j+K3*g:W]%Y ?gdFO[iKZ[Ae3gcFOr"YbaFJaJaFzFJaJaF:DGFv[AY?g:K+k
[AW]XXK+bdKIJqtDGe?bobdK`V3TYf[AKIrDGYr3DaWAFcbd'T?FW8HIF:XX:W8TWAJaYDdT?WAV3K+bGWbGW]rWig:KHIF:V*baFNr.Y[AjFDaWU3V3WT?W
HfK+bGF:DGWAK[]W8TW]F[]F:bobaDGWigcWK-TF:[AF:j+K+bGYfW]V"T?WAg:F'T?WDaW]tDdK`X:WAYV3F3T?W8!K1jY-DaWADaFM[AY JGg:K+babaFDaWAVpfF:[iK+k
JobaWigcY{T?F[][iKI[]e"gcFNFZ*eWAV3T?W8[iKIrDGY3KWA[]W]bGIT?Wnj-F:DGWhU.g:K`DdJaWnT?Wnr.F:DdgcYDdJaWngdW]e"JoW8TF:[A[AKI[Ae3gcF
VF[HIFX:X:Ys!TW "YV3TF:V*baFlHfK VY-V0K-JaJaYDG.F:V*baF1
u \ >ZBEW 6DGFg:F:V*baFHlFV*baF\JaWDaW]baWAF:VF
gdF'[AK[]Y?gK`[AW]XXK`XW]Y-VFZr.Y-JGJaK HIF:p[AWAYK1jjFVWADaFZWAV6JobaDGe?babaeDGF'r.F:DGWAYTWAgdFlT?WEJGg:K+babaFDGK`k
baY-DaWg:YVgcY-JobGKV*baWT?WDGFcbaWigcY-[]YgcY-V?tDaY-V*bGK`3W][AWgcYV6[AK[AeVp-F:XXKT\ Y-V3TKT?F:[A[iK[Ae3g:FnW
gcY*JoWiTT?F:bobGW &)(+*-,+.0/21314*95#72.07289*:&)* w@= >ERE K`V"K`[AWAJaW\T?F:[A[AK'[AFcbobGF:DdK+bGeDGK'FM[AKlT?WiJag:e3JGJoWAYVFMT?W
*e3K`V*bGYNW]V{FJaJGKNFDGKMDGW]r.YDabGK`baYN3KNtYDGVWhbGYZWAV3T?Wig:K`XW]Y-VW"Jae g:YHIF_gcY*JqbGDae3W]DGFeVfHIY?T?F:[A[]Y
T?WJGg:K`bobaFDaWAVpMT?F:[A[iK_[Ae3gcFK-TK+babaYMK`[A[AKzrDGYpF:bobdK`X:WAYV3F|T?F[][iKMgcF:[A[iKzKOgcY-[]Y-DGKV-bGFY-Dap*K`VWigcY">


:+;<: ;<: ?A@CBED>F>GHF9ICJ!D>D>B D>JMLHLNJPOQBLQROQB GHRCD>D>] GHSXBLHLNJPO F_@J!D>BEG#LQF_SX] ICB


 B[ONLNJIcF  F>SMSX] D>J  BOQLNF_SXJ!D>D>J @BE@] OQBE@+RCD>F
+JobGK+bdKrDGFJGKvWAVZFJGK`HIF|[AK_[]F:bobaFDGK`baeDdKvJae[A[ K`DGpY-HlFV*baY3DGWhtFDaFV3T?Y-JaWWAVZr3KDobGWAg:Y[iK`DGFEK`[
baFJqbGYlg:[AK-JaJaWigcY'TWME" K`VTF
_e[iJqb *%.  &J/B.<.!)(+*38"$#&%'( /B131) /B(+.<*:&#1*#, 3yzY+jF:D,+Z> -'>


sq@-x-u >NR8FbGF:YDGWAFWAV4FJGJaYgcY-V*baF:Ve?bGF!KVVYDaW]tF:DGWAHlFV*baYK[][AYJGg:K`bobGF:DGW]VpT?F:[A[iK [Ae3gcF

*38 J& /.(/97 1H7289.G/B8 7lF ,#&J/2.>.#(+*38, *380B* /1#802)89.<*|FNJaYVYfT?Wnr.Y?gcYfK`WAe?bGYIK[\VY-JobaDGYIg:KJaY3


WAV{gceW.JoY-VYZT?W3WAV*baFDaFJaJaFWtFVYHIF:V3W"gcY-[][AF:p*K+bGW3K`[A[AKMWAV*baFDotFDaFVXKNT?F[][AFvY-V3T?F$*38 &J/ (/!7
3 *:&#*38 7}F ,)&J/B.<.#(+*38,42* /5)867#8 .>* W]V g:eW|g:W]Y%[AK~r3DaFJoFVXK~T?Wr3KDobGWAg:F:[A[]F TW "YV3TF:V*baW
jWAg:W]V3FZpWAY?g:K`V3YfeV}DGeY[AYfVF:[T?F:baF:DGHIW]V"K`DGFN[]Flg:K`DdK+babaFDaWiJqbGWAgd3FMTF:[A[]YJagK+bobGF:DGW]V3p{T?F:[A[]F
j+K`DGW]F|r3K`DabaWigcF[][AF8> +vYVlT?WHIF:VY"+W][*DaW]tF:DGWAHlFV*baYzK[][iKbGDGK`bobdK`X:WAYV3FgcY-V-bGF:Ve?bdKvWA4V "EK`Vly_F
ve3[AJob T\ Y3[]WApYfr.F:D_eV3K{JaF:DGW]FZTW8WAHlr.Y-JobGKX:WAYVW8DaF[AK`baWAjFNK`Wr3K`DdK`HIFcbGDaWnTW*bGDY @FJ:
Fgg`>
YV3YJobGK`baWW]V3Y[]baDGFlg:YV3JaWATF:DdK+baWp[AWK`rr3DaY?g:g:WDGFg:F:V*baWK[][AYJGg:K`bobGF:DGW]VpHe[]baWAr[AYF
K`[A[ K`baYHIYIgcY-HlFNJGg:K`bobaFDGK`baY-DaFOreV*baW]tYDGHI9F ]@ >

:+;<: ;;:

JMU @cFT`PFT]1@JIJ!D>= ] ICJ!D>D>] IcF GHSXBL LNJPO F>@  JPO DTB SXJ!D>D>B B
SX]1DT] OQBE@1LNJ ] O5 BE@CF_SX]
<

e[A[iK{3K-JoFTF:[A[]F'W]V3TWAgK`X:WAYV3WT?F[][iK{[AFcbabaF:DdK+bGeDdKfFJaWAJobaFV*baF s!FlT?FWJaeY-W8[AW]HIW]baW uvFlT?F:[A[]F


F*e3KX:WAYVWT?W K A|F[][ JobGK`baYMT?FcU"VWhbGYze3V'HIY?T?F:[A[AYOT?WJGg:K`bobGF:DGW]VpOgdF|baWAF:VFgcY-V-bGYOJaWiK
T?F [ &J/.(/97 3 *:&#*38 7MgdFT?F:[A[]FgK`DdK+bobGF:DGWAJobaWigdFTWJagK+bobGF:DGW]V3pzT?WAr"FV3T?FV-bGF> K[]FHIY?T?F:[A[]Y
rDGFJaF:V*bGK'[iKlJaF:p-eF:V*bGF /2( &?%*3.#.<.; ( /!;
@-> YTF:[A[]YOT?W?T?W "e3JaW]Y-VFT?F:[A[AK_[]e"gcFTKvr3KDobGF|T?WV3KVYp-DGKVe[]W @ zpVW*V3K`V3YpDdK`Ve[AY
TWeV3KTK+bdKJaY-JobGKVXK lr.F:V3JGK+bGYg:YHIFlg:YHIr.Y-JobaYTW /B.G7 ( *vT?WAJar.Y-JobaWWAV4eV3K
JobaDGe?babaeDdKKNDGFcbGWAg:Y[AYgce3WAg:Y3T?W.jY[AeHIFvF_tYDGHIKT?FcU3V3WhbdKKNDGWAgd3W]FJqbdK{strDGWiJoHfK


oJ tF:DdKFg:g`>K'JoFgcYV"TKT?F[][AFOFJaW]p-F:VXFzT?WHIY?T?F:[A[]WAX:XK`XW]Y-VFuc>BF:DY-pVWJoY*JqbdK`VXK
JaYV3Y7Jor.Fg:WhU"gK+bGW_W_r"K`DdK`HIFcbGDaW_gK`DdK+babaF:DGWiJqbGWAg:W>;}WAV3T?WigcF6T?W_DGWhtDdK`XW]Y-VFFg:g`> RK
[Ae3g:F4WAV3gcWiT?F:V*bGF}jW]FVF4gcY-V3JaWAT?FDGK`bGKHIYV3Yg:DaY-HfK+baWig:K3> BFD [iK[]e"gcF4T?WH"e3JaK JoW
WAHIrWAF:p-K'[ FJorDGFJGJaW]Y-VF_T?F[gK`HIr.YF:[AFcbabaDGWAg:YlTW.DdKTWAKX:WAYVF_TWTW]r.Y[AYlg:YHIr[AFcbdK
TF:WnbGF:DGHIW]VWT?Wg:K`HIr.YfjWAg:W]VY">|BFD_[AY{JojWA[]er3r"Y TF:WgK`[igcY-[]W8g:WJaWK1jj+K`[AFZT?W8e3V
g:Y?T?WAg:F{T?WiJor.YVWAWA[]FfHfK~K-TK+babGK+bGY~K`[EVY*JqbGDaY~gKJaY3> JqbdK+baYF[AK"Y-DGK`baY~K`V3gd3F
e3VHIY?T?F[][AYIbaFYDGWAg:YIgd3FOWAHIrWAF:p-KlW8g:YV3g:FcbabaW8T?F[][iKlU"JaWAgKIT?F:[A[]Y{JobGK`baYfJaY[AWAT?Y"?[]F
g:eWr3DaFj*WiJaW]Y-VWJaYVY~WAV7gcY-Hlr3[]F:baY4K-g:gcY-DGTYg:YVWg:K`[igcY-[]WE!K+bobGW|Jae[A[AK~"KJaF{T?F:[
HIY?T?F[][AY{T?WnT?HW ".e"JoWAYVF->
= > zDGp-KVWAX:XKX:WAYVFT?FW"V"K`VY-pDdK`Ve[AWW]'V ,J.<( .<.; ( 7B( B*38/2.!:?FJaWA"FV-bGW"[AFzgK`DdK+babaF:DGW]k
JobaWigdFZT?W &)(+*-,+.0/21314* 5#72.07289*:&)* >
3x > _babaWAHIW]XXK`XW]Y-VFT?F:[A[iK T?WAJar.Y-JaW]XW]Y-VFYDdT?W]V"K+bGK T?FWZV3KVYp-DGKV*e3[]WMWAV te3VX:WAYVF
TF:[A[AKIHfKJGJaW]HIWAX:XKX:WAYVFOT?F:[A[iKIDaFJaK'rDGF:jWAJobGKlr.F:D[iKIgcF:[A[iK>






1.0  7073. 2 2 ,6. 1.








JqbdK+bGK7#F "FcbobGe3K+bdKeV3K7W]V3T3K`pWAVF4Jae[A[AKFcbabaFDGK`baeDdKDaF[AK`baWAj+KK`Wzg:DaWiJobGK`[A[AWtY`bGYVWigcW
`K 33KJobGKVXK FJobaFJGK>fWre !KDMDaWiJaK[]WADGF'WA[EgcY-V3gcF:bobaY~T?W &)(+*-,+.0/2131H75#7B.G7B89*:&J7KW[AK1j-YDGW
T?W -K`[AYV3Y+j*Wigd ]@1= |F-W]V"T?W]r.F:V"T?F:V*baFHIF:V*baFTK~[AeWETW-YV w T?F:[O@-*?>~|Y-HlF
HIY-JobaDdK`VYWbaW]baY-[]W|T?F:WET?e3F{K`DabaWigcY[AW\WgcDGWAJobGK[][AWtY`bGYVWigcWFDGKVYFHIF:DdJoWEg:YHIFfK`H3WhbGY
T?WEDGWigcF:Ddg:KK`[A[ WAV*baF:DGVYT?WT?e3FfW]V3TW]DGW]XX:WET?WDaWigcFDGgKT?WAjFDGJa<W ;M*eF[][AY~T?W -K[]Y-VY+jWhbdgd
JaWnDaW]tF:DGWAj1KfK[][iKIr.Y-JGJoWAWA[]W]bGfT?WW]V3W]WADGFZ[ F:HIWiJaJaWAYVFZJar"Y-V*bGK`V3FKIT?F:[A[iKf[]e"gcFZTKfr"K`DabaFZT?W
K+bGYHIWbaF:HfKgdFlr"YbaF:j+KFJGJaF:DGFZ!K+babaYDaWiJGK`[AW]DGF'K[[iK1jY-DaYT?W > >\BEeDdgcF[][T?F[@ w
<=.[ WAHIr"Y*JqbdK`X:WAYV3FZT?W -YV ZK[][ WAV*baFDaVY{TF:[A[]FZr3DaY-[]FHfK+baWigdFNT?F[][iK 1H7 &J/B14* /)*:7B80
s!TF:[A[AKl[Ae3gcF1uW]VWAX:WiK+bGFZgcY-VWA[n[iK1jYDGY'TW\B>  >3^vV"T?F:DdJoY-VTF:[@*P`$ = >
Fg:YV3T$Y -K[AYVY+jW]bGgdnnWEg:DaWiJobGK`[A[AWtY`baY-VWigcWJaYVYJobaDGe?bobGeDaFfY-DGTW]V3K`baFIgdFIFJaW]3Whk
JGgcYV3Yle3V3KIr"FDaWAY?T?WigcW]bG{Jar3K`XWAK[]FObGDaWiT?WAHlFV3JaW]Y-V3K`[AFZT?W  T?F:[A[iK &J7 ,+.0/289. 2* #1#.<.>(+*:&J/ Y3
JaFgcY-V3T?YZe3Vn K[hbGDGKJoe3KT?FcU3V3W]XW]Y-VF ,+.>( .<. ( 2* #1#.<.>(+*:&?5 /5)(+*:7B*:&?5 /B(+.<*  &)*:/B14* #)* 
.<(+* B* ( #89,J*:728/214*
]@1= >R8KfgK`DdK+babaF:DGWiJqbGWAgKrDGWAV3gcWAr3K`[AFZT?F[gcY-V3gcF:bobGY{T?W8gcDGWiJqbdK`[A[]YItYbaY`k
VWigcY" Igd3 F 1H/$5#/ ( *314*:/B( 8 7 ( #8 &#1H/2.; ( / 2)* &#(+*-,+.G/B1314*(J/214* /6  #,J,&)(I.>( /B, 5&#(+*3.G/'/B1


&J/ ,)7 )1*).>.<( 7.( / 280#.<*:&J72@ 1+,+.G7 ,+*28 * &J/ &?5 &J7B8 & ).<.>*2* ,;/9/ )*:7 (J&#* / ( 7 & 7 7B80 2*
(+*3131H7  *38 ()1H/ )*:7B8 *B* B*-,/1#(J,+*:7286 5? 8 )*:7B8 *  7B80D/ B* 1H7 &?  &J&@ 7 7B8 7 #,J,&)(
/ /7/14*:&J/2.! /B131 72867 5#72.07289*:&?5 ]@1= >fVK[hbGDaWbGF:DGHIW]VW[AKrDGW]V"gcWAr3K`[AFfg:K`3 DdK+babaFDaWiJqbGWAgK
T?FWg:DaWiJqbdK`[A[]WtY`bGYVWigcWMstFgdF{VFpWAe3JobaW]U"g:K4W][VYHIF1u  g:Y-JobaW]baeW]bGK6TK`[|!K+babaY0gdF DGWhk
rDGYr.YVp-YVYK [AWAjF:[A[AYT?F[][iK[]e3VpFX:XKT\ YV"TKT?F:[A[AK[Ae3gcFIWtFVYHIF:V3WpWi jWiJqbGWVF:W
gcDGWiJqbdK`[A[]W"W]V{DGF:[iK`XW]Y-VFvK`W"DGKpp-W s!W]Vr3K`DabaWigcY-[AKDaF[iKZDGWh3FJaJaWAYVFvT?W DGKppuFzK`[A[AF7B08 2
)*1 #.<.<( 7B8 *:& 1c>


"





#

('

%$

"

!

&

*)

V*baF:V"JoFvDGWigcF:DdgdFJaYVYMWAV{gcYDdJaYOJaWAKNT3K`[re3V-bGYT?WjWiJqbdKObaFYDGWAg:YZgdFvJor.F:DGWAHlFV*bGK`[AF>
yOK`[vre3V-bGY T?Wzj*WiJobGKJar"FDaWAHIF:V*bGK[]F-Y+jj-F:DGY0T?F[][iKr.Y-JGJoWAWA[]W]bGTW_DGFK`[AWAX:XKDaF*eFJobaF
JobaDGe?bobGeDaFNKDobGWhU"g:WAK[]W?p[AW\WAV3T?WADaWAX:XW8T?W\DGWAg:F:Ddg:KlJoY-VYIFJGJoFVX:WiK`[AHIF:V*baFMT?eF6;
E [Ag:WiDaJqWibGJoW]bGDGK`F:[AV[AW8F-tYDdbaK`YpV3p-WAW]g:YIW=?Y@boxbaFV3VKe?VbaWYHIgcY-F:V~baDG[Wi u|K`eWAVbaYJaYY-DGJap-r.KF:VV3W]JaXW]XY-KVX:W\WAYgcVY-FZ[][AYT?WiWTK`r[AWiW g:g: x Y <[A= F'JotF:DGFs!TWr.Y`k

E bG:g aDDaWiWiT?JobGWAHIK`[A[AF:WV3tJaY`W]Y-bGYV3VK`Wi[AgcWnWT?g:WnYjHIeFfYbaHfWnJoK+tbGF:F:DGDGYWAWiKT[]K`W[Ar.W Y QPDGnY-Ja@W@& gd> FfrDGFJaF:V*bdK`VYJoF*eF:VXFfYDdT?WAV3K+bGF

yOK`[reV*baYT?WjWiJqbdK~baFYDGWAg:Y sJoY-rDGK`bobGe?bobGY> -Y3V"uZW[iK1jY-DaWJoWgcY-V3gcFV*baDdK`VY0Joe[A[iK


JobaDGe?bobGeDGKzT?W3K`V"T?FTWg:DaWiJobGK`[A[AW-tYbaY-VWAg:W+DGFK[]WAX:XK+bGW*g:YVZ[iKvbGFg:VWAgKzTF:[A[ Yr3K[]F|W]Vj-F:DdJoY">

 


             


 .6 !.32 ,6.  67373  7373 '6.  [  /  7
2  +[2 +
6   1 7073 ) ,6/ .32 ,6 ,)2  ,6





+vY-VFJoWiJobaFZK`[\HIY-HlFV*baYfK+babae3K[]FMeVY{JGgdFHIKIT?WgcYHIrDGF:V"JoWAYVFMT?F[\teVXW]Y-V3K`HIF:V*bGY

T?F[][AF|g:F:[A[]FT?WODdK`F:baXF:[*F|T?F[][iK[AYDGYv#F {gcWAF:V3XK> zeWAV3T?W*VY$V |VY`bGYz*e3K[]FTF:Wr3K`DdK`HIF:k


baDGW8T?F[][iKfgcF[][iKIJoWiKIrW W]HIr.YDabGK`V*bGFNFZJoe~*e3K`[AFZJaW8T?F:33KIW]V*bGF:DGjF:V3W]DGFzr.F:DzK`eHIF:V*bdK`DGF
e[]baFDaWAYDGHIF:V*baFM[ )F fg:W]FVXK3> Y[]baYf[iK1jY-DaYlT?WnDGWAg:F:Ddg:KlgcYV"T?Y`babaYIVF:p-[]W\e3[hbGW]HIWKVVW\3K
r.F:DGHlFJaJaYfT?Wg:YHIrDGF:V3TF:DGFOWAVr3K`DabaFNWA[8DGeY-[]YfT?FW8JoWAVp-Y[AW8gcY-Hlr.YV3F:V*baW>BF:D_FJaF:HIrWAY
vDGWhbGF:Ve?bGYgdFWA["DGeY[AYNrDGW]V"gcWAr3K`[AFvT?F:[A[iKZJoe3r"FDoU"g:W]FzKJGJoY-Da.F:V*baFvTF:[A[ Y-JGJoWiT?YZT?W3baW]bGKVW]Y
JaWAK*eF:[A[AYTW2Y "DaWADaFfK[][iK[]e3g:FIW]V3g:WATF:V*baFfeVWAV3gcDGF:HIFV-bGYTF:[A[AK~Jaer.F:DaU"gcWAFfg:K`rbGK`V*bGF
DGWAJar"F:bobGY KfeV3KJoe3r"FDoU"g:W]FrWAKV3KfFgd3FZbGK[]FW]V3g:DaFHIF:V*baY JaWiKf[]Fp-K`baY{K`[A[iKfV3K+bGeDdKfV3K+k
VY*JqbGDae?babaeDdK+bdKIT?F:WJoeY-W8gcDGWiJqbdK`[A[]W8TF:r.Y-JaWhbdK+baWJoe[Joe33JqbGDGK`baY">|R8KIr"K`DabaWigcY[iK`DGFO#F {g:K-gcWiK
T?W.KJGJoY-DaWAHIF:V*baYM[AeHIW]V3Y-JaYT?F:[.gcY-Hlr3[]FJaJaYZT?F:[.gcY-[]Y-DGKV-bGFT\ K[hbGDGKMr"K`DabaF _K-TT?FWhbdK+bdK
rDGW]V"gcWAr3K`[AHIF:V*baFZK[][iKl[AKDap*K3KV3TKfT?WKJGJoY-Da3W]HIF:V*bGYlT?WnbGK`[AFZgcY-HIr"Y*JqbGYfVF:[njWiJoWAWA[]FNF
K`[A[iK Jae3KJobGKWA[]W]bGVF:[bGF:HIr.Y3> K\r.F:DMFJaF:HIrWAY3\WA[HIFg:gK`VWiJaHlYT?WDGW][iKJGgcWAYT?We3V
F:[AFcbabaDGYVF Fg:g:WhbdK+bGY4TK~r3KDobGF T?F[g:YHIr[AFJGJoY~HIY[AFg:Y[iK`DGF{K`[A[ WAV-bGF:DGVY}T?F[][ Y*JaJaWiT?Y3[AK
V3K`baeDdK FI[AFfg:K`DdK+babaFDaWiJqbGWAgd3F'T?F[baDdK`V3JaWhbGY~T?F:p-[]WF:[AFcbabaDGYVWV3F:[A[ Y-JGJoWiT?Y"\W][EDGeY-[]YT?F:[A[AK
Jaer"FDoU.gcWAFgK`r?bdK`V*baF~JobaFJGJGK4T?eDdK`V*bGF[ KJGJoY-DaWAHIF:V*baY4[]eHIWAVY-JaYFT K`[]baDGY4VY-V JaYV3Y
.F:V}gcY-HIrDaFJoW>R8Kf[AYDGY{gcY-HIrDaFV3JaW]Y-VFY-[hbGDaFZK{r"FDaHIFcbabaFDaFZe3VY Jaj*WA[Aerr.Y{Y`babaWAHIK[]F
T?W*eFJobaFlgcF:[A[AFlJaY[iK`DGW"Fl*eWAV3T?WeV0JaK[hbGY T?W*e3K`[AWhbd{j-F:DdJoYf[iK T?HW "e3JoWAYV3FlT?F[][AF'g:F:[A[]F
HIFT?FJoWAHIFr.Y`baDGF:3"FK`rDGW]DGFfVeY+jF{JobaDdKTF{r"FDFj*W]bGKDaF [AK}JaF:DGWAF{T?W|3DaFjFcbabaWT?F:r.Y`k
JaWhbdK+baWr.F:DMWj1KDaWHIFgg:K`V3WAJaHIWF'rDaY-rDGW]F:bG> zeFJqb e[]baWAHIYK-Jor.FcbabaY IgcFDobdK`HIF:V*bGF'T?W
pDdK`V"T?FvDGW][AF:j+K`V3XKK[][iKN[Ae3gcFMT?F[][ WAHIr"Y-VF:V*bGFzHIY[AFzTW.[iK1jY-DaYM!K`bobGYlTKj+K`DGW"[iK`.YDdK+bGYDGW
HIYV3TWAK[]Wr.F:DbaDGY+j+K`DGFzJobaDdKT?FOgcY-Hlr3[]FHlFV*bGK`DGWF ?+YlK[hbGF:DGV3K+bGW]j-FzKl-e3F:[A[]FNT?W8ODdK`F:baX:F[>


$

+.3,! '6 7373(7 5')("# +* 1.  1.0  7073.

%



vV g:DaWiJqbdK`[A[]Y0WiT?FK[]F ~gcY-Hlr.Y-JobaYT?WvK`baY-HlWvKDaDdK`V3pWiK+baWJae e3V DGFcbGWAg:Y[AY0TFcU3VW]baYTK


baDGFNjF:bobGYDGWtYV3TKHIF:V*bGK[]W8TWnbaDdKJa[iK`X:WAYV3F   bGK[]WgdFN[ KDaDdK`Vp-WAKHIF:V*baYlK+baY-HIWAg:Y


re( ~FJaJaF:DGFIT?FcU3V3WhbGY4TK`[A[iKDGF:[iK`XW]Y-VF 

 }T?Y+j-F1  fJaYV3Y
WAV-bGF:DGW3K`DGW]baDdK`DGW>[3DGFcbGWAg:Y[AY veV K-JqbGDGKX:WAYVFHfK+bGF:HfK+bGWAgK[iKZJobaDGe?bobGeDdKNgcDGWAJobGK[][AW]V"KNJoW
DGFK`[AWAX:XKNJaY[AYZ*e3K`V"T?YZeV3KZ3KJaF_T?W.K+baY-HI9W zK`bobdKg:gK+bdKMWAT?FV*baWig:K`HIFV-bGF_KTIY-pVW"reV*baY
T?F[\DaF:baWigcY[AY3>RK'DGF:[iK`XW]Y-VFO[]Y-pWig:K  )1* !.2!
    JqbGDae?babaeDdK `)+ !32!2!  >
vV4g:YV3g:FcbabaY{T?WW]V*baFDaFJaJaF *eF:[A[AY T?W8r3WAKVY{gcDGWAJobGK[][AWAVY3e3V~rWAKVY{gdFg:YV*baWAF:V3F
reV*bGWTF:[DaF:baWigcY[A9Y =JoWr(e 6jFT?F:DGFgdF bae?babaWWreV*baWT?F[DaF:baWigcY[AY4g:DaWiJqbdK`[A[]WAVY4JaYV3Y
FJGK`e3DaW]baW_T3KeV3K7!K`HIW]p-[]WiKT?WOrWiK`VWOgcDGWAJobGK[][AW]V3W_r3KDGK[][AF:[AWbaDdK[AYDGY3> yzWzr3KDobGWAg:Y[iK`DGF
WAV-bGF:DGFJGJoFW]V3Y[]baDGF [iK0TWAJobGKVXK0T?F:Wr3WAKVWvgcDGWAJobGK[][AWAVWDaF[AK`baWAj1KHIF:V*baFK`[A[AK0*e3K`[AFJoW
r(e Zg:YVjFVWAF:V*baFHlFV*baFT?FcU"VW]DGFveVIj-FcbobGYDGF / r.F:DGr.F:V3T?WigcY-[AKDaFK[rWiK`VYNFvT?W"HIYTe[]Y
T?Y+j-
F bGK[]FvT?WiJobGK`V3X!K =FJaWAJobaY-VYzY+jjWiK`HIF:V*baFWAV?U3VW]baW.T?W*eFJobaWj-FcbabaYDGW?gcWiKJGgceV3Y
r. F:DGr"FV3T?WigcY[iK`DGFZKTeV"KI!K`HIWAp[AWAK{TW8rWiK`VW>_|YHIFZFJoFHlr3W]Y{JaWg:YV3JaWATF:DGW]VYfWjF:bobaY-DaW
r.F:DGr"FV3T?WigcY[iK`DGWnK`W\r3WAKVW8T?F[][AFM!KggcFNWAVe3VDGFcbGWAg:Y[AYfgceWigcY"?jW8JoY-VYIY+jj*WiK`HIFV-bGF_bGDaF
T?W.-e3FJobaWj-FcbobGYDGW> "_W.JoY-VYNr.YW3j-FcbabaYDGWr.F:DGr"FV3T?WigcY-[AKDaWKW3rWiK`VW"gdFbGKp[AWAKVYM[AKgcF:[A[iK
JaFgcY-V3T?Y}[AFTWAKpYV"K`[AWEFgg`>6R WAV*baFDaFJaJaF T?W*eFJobaWjF:bobGYDGW gd3F FJGJaWWAV-bGF:DGjFVpY-VY
WAV~HlY?T?Y V3K+bGeDGK[]F'-e"K`V3T?YJoWK`V3K[]WAX:XKI[]Y JGg:K`bobGF:DGW]Vp{TWr3KDobGWAg:F:[A[]FY{DGK-T?WiK`X:WAYV3WnTK`[
gcDGWiJqbdK`[A[]Y">8RnFT?WAHlFV3JaW]Y-VW?T?F:[A[]FgcF[][AFT?F:W?gcDGWiJqbdK`[A[]W*V3K+bGeDdK`[AWJaYV3Y_T?F:[A[ Y-DGT?WAVFT?W?> x+k>QP
V3KVYHIFcbGDaW+FvT?F[][AYNJqbGFJGJoYMYDdT?WAVFT?WpDdK`V"T?F:XXK_JaYV3YO[AFT?WAHlFV3JaW]Y-VW?baDdKOrDGW]HIW?jWAg:W]V3W>
V4*eFJobaYrDGYpF:bobGY 'T?Wr3K`DabaWigcY-[AKDaFNWAV*baFDaFJaJaFZ[AY JagK+babaF:DGWAVp T?WDGK-T?WiK`X:WAYV3FNFWAV
r3KDobGWAg:Y[iK`DGF'T?F[][iK [Ae3g:FljWiJoWAWA[]FIBF ?1YW]V?tDdK`DGY-JGJGK TKr3K`DabaFfT?WEg:DaWiJobGK`[A[AWY~KppDGF:p*K+bGWT?W
FJGJaW>[r3K`DdK`HIFcbGDaYZtYV3TKHIF:V*bGK[]FOgdF_WAV*baF:DGjW]FVFOW]VfbdK`[AFzr3DaY?gcFJaJa$Y OW][DdK`rr.YDabaYZbaDdK
[iK[AeVp-F:XXKT\ YV3TKT?F[][iKDGK-T?WiK`X:WAYV3F'FI[iKTW]HIF:V"JoWAYVFfT?F[][iKgcF[][iK>IV0pF:V3F:DdK`[AF'W
tF:V3YHIF:VW?K1jjFVpY-VYWAVZtYDGHfKvVF:bobdK`HIF:V*baFT?WAjFDGJGKvK_JaFg:YV3T3K_gdF|[AKzDGK-T?WiK`X:WAYV3FK`?k
WiK_[AeVp-F:XXKOT\ YV3TKzHIW]V3YDGF|YOHfK`pp-W]Y-DaFT?F:[A[iKzT?WAHIF:V3JaWAYVFT?F:[A[iKOg:F:[A[AK3>8BKJGJaF:DGF:HIY
T?eV"-e3FfW]VDdKJGJoFpV3KW|TeF{DGF:pWAHIWEJoFr3K`DdK+bdK`HIF:V*bGF8g:YHIW]V"gcWiK`V3T?Y}T3K~-e3F:[A[]Y}g:Y-JaWATk
T?F:bobaYT?WRK`eF:k )DdK`p-p3gcWA%Y T?WrWAggcY-[AKf[AeVp-F:XXKfT\ YV"TKfDGWAJar"F:bobGY K`[A[AKfTW]HIF:V"JoWAYVF
T?F[\DaF:baWigcY[AY3>
V{pFVF:DdK`[AFr.F:DY`bobGF:VFDaFz-e3FJobaYZDGF*eWiJoW]baY _VFgcFJGJGK`DGW]YMYr.F:DdK`DGF_g:YVfDdKT?WiK`XW]Y-VF
'[iK g:eWM[]e3VpFX:XK T\ YV3T3K 6baWArWAgK`HIF:V*bGF03>]@6V3K`VY-HIFcbaDGW_DGWAJar"F:bobGY K`WN3> P T?F:[
DGFcbaWigcY-[]Y">
[DaFpWAHlFzT?W )|DdK`p-p`kR8KeF _Y`babaFV*ebaYWAV*e3KV*baYZ[iKZDdKT?WiK`XW]Y-VFvT?W.bGK[]Fz[]e3VpFX:XK
T\ YV3T3KJaeWiJGgcFlW][tFVYHIFVY~T?F:[A[AKT?HW "DGKX:WAYV6F ;zY-pVWEK`baYHIYT?F:[DaF:baWigcY[AYT?W "DdK`Vp-F
[iK DdKT?WiK`XW]Y-VFFI[iKDGK-T?WAKX:WAYVF'e3JGgcF:V*bGFlT?Y-r"Y[ WAV*baFDGKX:WAYVFIgcY-V4WA[EgcDGWAJobGK[][A Y I[iKJaY`k
jDGKrr.Y-JaW]XW]Y-VF_gcYFDaFV-bGFzT?WbGe?bobGWn*eFJobaW.!KJGgcWF[]FHlFV*bGK`DGWgdFOg:YV3Te3gcFMKT Y-JGJoFDaj+K`DGF
[iKfDGK-T?WiK`X:WAYV3FZJoY-[]Y K r3K`DabaWigcY-[AKDaWK`Vp-Y[AWnr"FDzW*e3K`[AWJoW3K{WAV*baF:DatF:DGF:V3XK{g:Y-JobaDGe?bobGW]j+K>
 > RE
> )DdK`p-p3Kr3DaFJoFV-bdK+bGYe3V3K~JoFHIr[]WigcF{JarWAF:p*K`X:WAYV3FlFTW]V*bGF:DGrDaF:bGKX:WAYVFfT?F[tFck
VY-HlFVY3>er3r"Y-VWAKHIYlg:YV )DdK`p-pgdFO[ YV3T3KZWAV3gcWiT?F:V*bGFMJaWiKZDGWh3FJaJGKJar.Fgce3[AKDaHIF:V*bGF
TK rWAKVWr3K`DdK`[A[AF:[AWT?WK`baYHIWT?F:[g:DaWiJqbdK`[A[]Y">M!KJGgcWT?HW ".DdK+babaWJoWj-F:DGWhU"gK`VY-e"K`V3T?Y[]F
DGWh3FJaJaWAYVW8T3K`W8r3WAKVWr"K`DdK`[A[]F[]WnWAV*baFDotFDaWiJag:YVY{g:Y-JobaDGe?bobGW]j+KHlFV*baF>_?Wg:YV3JaWATF:DdKfJagK+bok
baFDaWAVpF:[iKJobaWigcY g:Y-JaWAggdZVY-V4jW lr.F:DdT?WhbdK T?WFVF:DGpWiKfFl[AK []eV3pFX:XK T\ Y-V3TKT?F:[A[AK
DdKT?WiK`XW]Y-VFzDGWAHIKVFOW]V3K[hbGF:DdK+bdK>
WgcYV"JoWiT?F:DGWAVY~T?eV3*eFT?F:W|rWAKVWr"K`DdK`[A[]F[]WK1j-F:V*baWeV3K}T?WiJobGK`V3XK DGWAJar.FcbobGY}K`W
*e3K`[AW_[iKDdKT?WiK`XW]Y-VFW]V"gcWiT?F6g:YV eV KVpY-[]
Y > R8KT?HW ".FDaFVXK T?WOgK`HIHIW]V3Y7r"FD W
DdK`pp-WDGW]3FJGJoWTKrWiK`VWK-T?WAK-gcFV-bGW lr.F:DdgcW  "!$#%Fl[AKWAV-bGF:DatF:DGF:VXK g:Y-JobaDGe?bobGW]j+KJoW
3Kf*e3KV3T?YIbGK[]FZTW "F:DGF:VXKfT?WgK`HIHIW]V3Y Zr3K`DGW8K-Te3V~V*e3HlFDaYfWAV*baFDaY{T?W[]e3VpFX:XF
T\ YV3T3KgcWA%Y Z*e3K`V3T&Y ' "!(#)*+,~g:YV 8}WAV-bGF:DGY3>ER8FNDaW]3FJGJaW]Y-VW\T?W )DdK`pp'r"Y*JaJaYV3Y
K1jjFVW]DGFJaY[]bGKV-bGYOJaF JaY?TT?WiJq!K`bobdK_[iKzTWAJaF:p-e3K`p-[]WiK`VX-K ,/. OFT *eFJobGKz[iK_DdK`p-W]Y-VF


@

gdF[AW]HIW]bGK[iK[AeVp3F:X:XKT\ Y-V3TKKj+K`[AYDGW`rWig:g:Y[AW`DGWAJar"F:bobGYvK`[A[AKJaF:r3KDGKX:WAYVFbaDdKW`rWiK`V3W>
jWiT?F:V*baFHIF:V*baF{jWJoY-VYW]V?U"VWhbGW|r3WAKVW|gdFfr.Y-JGJaYVY~JaYT3T?WAJo!K`DGF{K`[A[iK~gcYV"T?W]XW]Y-VF{T?W
)DGKpp"`Yp-V*e3VYZgcY-Vl[iKNrDGYr3DaWiKNJoFr3K`DdK`XW]Y-VF>
*W]V*baFDaFJaJGK`V*bGFY*JaJaF:DGj+K`DGFgdFv[iKN[]Fpp-F
T?W )DGKpp}r e 4FJGJaF:DGF{W]V*bGF:DGrDaF:bGK`bGK~WAV7HIY?T?Y6p-F:Y-HlF:baDGWAg:Y3Y-JGJoFDaj+KV3T?Y}gd/F  "!$#)
gcY-W]V"gcWiT?FvgcY-VfW]["HlY?T?e3[]YZT?F[][iKZT?HW "F:DGF:VXKNT?F:W.T?eFvj-FcbobGYDGW3T\ YV3T3KNW]V"gcWiT?F:V*baF_FDaW]3FJGJaY
gcY*JoWig:gd3OJaWnr(e fJGgcDGW]j-F:DGF
 


   

FbGF:VFV3T?Y'g:YV*baY'T?F:[A[AKJor.Fg:e[AKDaW]bGNTF:W.rWAKVW.r"Y*JaJaWAKHIYZK`V3gdFzKB"F:DGHIKDaFvgd3Fvj+K`[AFv[AK
DGF:[iK`X:WAYV3FZK`V3gdF'DaF[AK`baWAj+K`HIF:V*baF'K`WjFcbabaY-DaWHlFT?FJaWAHlWre3DGgd'JoWT?FcU"VWAJGg:K W][jF:bobGYDGF
/ r"FDar.F:V"T?WAg:Y[iK`DGFK`[JaFcbOTWrWiK`V3W> zeW]V"T?W 
    [iKftY-DaHfKfj-FcbabaYDGWiK`[AFZT?F:[A[AK
DGF:[iK`X:WAYV3FOT?W )|DdK`p-p3>
vV3K T?F:DGW]j+KX:WAYVFNrW ~DGW]p-YDGY-JGK'JaW8T?FjFKfRK`eF->e3rr"Y-VWiK`HIY T?WK1jF:DGFOeVn YV3TK
rWiK`V3KIgdFMWAV3gcWiT?FZJaee3Vg:DaWiJobGK`[A[AY3?JoWiK


    ! "$# %&


[iK4Jae3K4KHlr3W]FX:XK3ET?Y+jF(' WA[jF:bobaY-DaFT\ YV3TK4F*)m[iK~tDGF*eFVXK3> _V K`baYHIY6VF:[

reV*bGY JagK+babaF:DGF:DdfeV6r3K`DabaFlT?F:[A[iK{DdKT?WiK`XW]Y-VFT?F[!K-Jag:W]YW]V"gcWiT?F:V*baFlFV3F:[reV*baY )
[iK'DdKTWAKX:WAYVFODaWAVjWAK`bGKlJaKDG
    ,  .-0/  1    ,321-0/4&
+
+

T?Y+j-F ) M[iK'TWAJobGKVXKlT?F:[\r3eV*baYfT?W\Y-JGJaF:DGj1KX:WAYVFOTK`[A[ K`baYHIYlW]V >RKl[]eV3pFX:XKlT?W


) lFJarDGW]HIWAW][AF 65 87 FJGJoFV3T?Y [iKTWAJobGKVXKT?F:[re3V-bGY~T?WY-JGJoFDaj+K`XW]Y-VFTK
eV}r3eV*baYTWDGWhtFDaWAHIF:V*baY".g:Y-J:9e?bGW][AWAX:XKV3T?YW][baFYDGF:HfK{T?WEK`DGVY`b3r.F:DMJae {gcWAF:V?k
baFHIF:V*baFfp-DGKV3T?Fs!gcWAY%fr"FDNreV*baW|T?WEY-JGJaF:DGj1KX:WAYVF'[]Y-V*bGK`V3WETK`[g:DaWiJobGK`[A[AY*u_r"Y*JaJaWAKHIY
K`r3rDaY*JaJaWAHIKDaF +<;>= ?A@CB   +ED _uFN[ KHlr3W]FX:XKIT?WAjW]FVF
1 F   ,G2-0HI"1  JK&CLM4NO/KP HQ&.R  1   S-0HTO,UV "W XY&
=
=

T?Y+j-FZ'T[%WA[3j-FcbobGYDGFT\ Y-V3TKOVF[][iKNT?WADaFX:WAYVFT?W3JGg:K`bobGF:DGW]Vp >RE K`HIrWAF:XXKODGWAJae[]bGK`V*bGF


TK4r3K`DabaF TWbGe?bobGWp-[]WK+bGYHIWJoWY`babaWAF:VFJoY-HlHfKV3T?Y4Jae F*eWAV3T?W T?F:baFDaHIWAV3K+bdK
TK[][iK'JaYHIHf]K \  ,^V "$ XY& gdFMJoWr(e fKrrDGY-JGJoWAHfK`DGFv]K _  "$ X P ` r.F:DeVJaWAJobaFHIK'gcY-V
eVpDdK`V"T?FzVeHIFDaYfT?WnK`baYHIW>E^8jDGF:HIYlr"FDGg:W
     S-CH _  "W X P `$a
=

R8K DGK-T?WiK`X:WAYV3FZF:HIF:DGpFDG T?eV3*eFlHfKJGJoWAHfK{VF[][AFlTW]DGF:XW]Y-VWWAV3T?WAjWATe3K+bGFlTK[][iK{DGF:[iK+k


X:WAYV3F b  c 4gdFMDdK`rrDGFJaF:V*bdK[iKlDaF[AKX:WAYVFMT?W )DdK`pp">
+vF[g:K-JoYfT?WeV3KfJaer.F:DaU"gcWAFN[AKIDGF:[iK`XW]Y-VFNT?W )DdK`ppfJaW\baDdKJotYDGHfKWAV~eV~DGF:[iK`XW]Y-VF
pFYHIFcbGDaWig:KTK[][iK-e"K`[AF{JoWTFT?e3g:F(d @CB  e fZFJGJoFV3T?Y
fZW][Ej-FcbabaYDGFfT?WEDGFcbGWAg:Y[AY
DGFgcWArDGY?gcYr3K`DdK`[A[AF:[AYK[][iK~Jaer"FDoU.gcWAFgdF JaWbaDdKT?e"gcF{VF[][iKDGF:[iK`X:WAYV3F $f @CB    ,
gcY-V I[ KVpY-[]YIT?WnFHIF:DGpF:V3XKlT?F:[!K-Jag:W]Y">
^ 3KJGJaKzF:V3F:DGpWiK_*eFJobGKOT?FDaWAj+K`X:WAYV3FVY-Vlg:YV3JaF:V*baF|eV3KMT?FJag:DaWAX:WAYVFK`rr3DaY-rDaWiK+bdK
WAV*e3KV-bGY'r3DaFjFTFzgdFM[iKDdKT?WiK`XW]Y-VF_FHIF:DGpF:V*bGFOJaWAK'Ve[A[AK3>|reV*baWngd3FO[iK'DaFV3T?YV3Y
@@

WAV*j+K[]WiTKJaYVY ;4K1jFDaFgcY-V3JoWiT?FDGK`baYT?WiJqbdK`VXF4T?WvY*JaJaF:DGj+K`X:WAYV3FD HlY-[hbGYrW pDdK`V3T?W


T?F[][AFT?WAHIF:V3JaWAYVWT?F:[gcDGWAJobGK[][AY~FK1j-F:DGFfW]p-VYDdK+bGY~[AK4T?W]r.F:V"T?F:VXK4T?W  TK > +_F:[
g:K-JoYMT?W3Jar.FgcW]U"g:YNW]V*baFDaFJaJaFT?W3eV"KOJaer.F:DaU"gcWAF**eFJobaF[AW]HIW]bGK`XW]Y-VWVY-VfgcYV"JoFV-bGYVYMT?W
K`V"K`[AW]XXK`DGFreV*bGW.jWigcWAVY'K[][iKJaer.F:DaU"gcWAF_FOVFHlHIFVY'T?W.bGF:VFDaFMgcY-V-bGYT?F[][iKZr.Y-JGJoWAWA[]F
WAV-bGF:DatF:DGF:VXKNT?F:[A[AFzK`HIrWAF:XX:F->R8Fv[AW]HIW]bGK`XW]Y-VWJoY-VYJobGK+bGFvDGW]HIY-JGJaF_gcY-VfeV3Kg:YHIr[AFcbdK
DGWAKV3K`[AWAJaW\T?F:[8rDaY-[AF:HfK>
*baDdK+bGW8DGFK[]WnJaYVYIVY-V}gcDGWAJobGK[][AWAVW>|R8KfgcDGFJGgcW]bGKfTWneVY{JobaDdK+bGY{Joer.F:DaU"g:WAK[]F ZrDGFck
j+K`[AF:V*baFHIF:V*baFleVrDGYg:FJGJoYJqbGY?g:KJobaWigcYgdFIgcY-V3T?e3g:FlWAV0pF:V3F:DdK`[AFlK-T}eVrDGY`U3[AYJae?k
r.F:DaU"gcWiK`[AFlK1j-F:V*baFleVgcFDobGYp-DGK-T?YTWEDae3pY-JaW]bG KV3gdFfJaFl[iKgcDGFJGgcW]bGKK1jj*WAF:V3FlJae6e3V
Jae3JobaDdK+baYf[iK{g:eWJaer.F:DaU"gcWA$F Zr.F:DatFcbabGK>V}K[hbGDaW8baFDaHIWAVWJaer.F:DaU"gcWJqbGDaebobae3DGK[]HIF:V*bGF
FNHIYDatY[AYp-WAgK`HIF:V*baFOr.F:DatFcbobGFJaYVYfT?HW {gcWA[]WTKIY`babaF:V3F:DGF>EBF:D_[AKIHfK`p-pWAYDr3KDobGFZT?F:W
g:K-JoWr.YW[AK6re[AWhbGeDdK4JobaFJGJGKY4[iK}DGWAHlY-X:WAYVFT?F:p-[]WY-JGJaWAT?WJaer"FDoU.gcWiK`[AW|Fg:g`>0[iKJGgcWiK
eV3KIJaer.F:DaU"gcWAFMDaep-Y-JGK>RnFMWAHlr.F:DatF:XW]Y-VW8JaW\HfK`VW]tFJobGKVYIVF:[A[AK'U3p-eDdK'T?WT?W "DdK`X:WAYV3F
K+babaDdK1jFDGJaY'e3V3KIHIYTWhU"gK{T?F[][iKltYDGHfKfT?F:WrWAggdWTWT?HW ".DdK`XW]Y-VF>|BF:D_FJoFHIrW]Y"eV3K
Jaer"FDoU.gcWAFW]V{g:eW3jW"JaWiKMYDdT?W]V3FvKZgcY-DobGYNDGKppWAYMgcYV"T?e3gcFvKZrWAggdW"TW"T?HW ".DdK`XW]Y-VFvK`[A[iK`Dak
p-K`baWW]VpFVF:DGFz*eFJqbGYlr3(e lK1jj-F:VWADaFOT?eDdK`V*baFO[iK'g:DaFJag:WhbdKZVF[][iKI-e"K`[AFOJaWrDaY?T?e"gcYV3Y
rDGW]HfK WAJaY[AFlTWV*e"gc[AFK`XW]Y-VF'gd3F'JaY[AYj-F:DdJoY{[AYJqbdKT?WAY U"V3K`[AFlTF:[A[AKgcDGFJGgcW]bGKJoWK`[A[iK`Dak
p-KVY{K`[reV*bGY TK{r.Y`bGF:DGFZFJGJaF:DGFgcY-V3JoWiT?FDGK`baFNDGF:pY-[AKDaWnJae4T?WiJobGK`V3X:FZHfKg:DaY*Jag:YrWigdF->
vV8 K[hbGDGKZJaW]bae3KX:WAYVF O*eF:[A[AKZW]V g:eW[AKJoer.F:DaU"g:W]FOJoW.gcYHIr.YVFOT?W.j1KDaW.JqbGDGK`baWJoe3r"FDoUk
gcWiK`[AWVF:[n*e3K[\g:KJaYlr"Y*JaJaYVY'FJGJoFDaFzrDGFJaF:V*baWnKV3gdFMK`pp-DaFp-K`baW"TWnK+baY-HIWJaY`babaY'tYDGHfK
T?Wnr3WAggcY[AWngcDGWiJqbdK`[A[]WbGDaWiT?WAHlFV3JaW]Y-V3K`[AW>
RE K`HIrWAF:XXKT?F:[A[iKDGK-T?WAKX:WAYVFlF:HIFDap-F:V*baFfJaWEr(e WAV-bGF:DGrDGFcbGKDaFIgcY-HIFf[AKJaY+j*DdK`rk
r.Y-JaW]XW]Y-VFlTWJaW]bae3KX:WAYVWT?Y+je?bGFIK-T4KDaDdK`Vp-WAKHIF:V*baWgcDGWAJobGK[][AW]V3W>yzWg:YV3JaF:p-eF:VXK.[]Y
JGg:K+babaFDaWAVp~T?W )DdK`p-pjWAF:VFfWAVpFVF:DdK`[AFfT?WiJqbGDae?babaY}WAV7*e3K`V*bGY}JoW]bae3KX:WAYVW|gcDGWAJobGK[][AW]V3F
T?WAjFDGJaFzWAVpF:V3F:DdK`[AF_!KVVYIW]V*bGF:DGjF:V3W]DGF_rWiK`V3WngcDGWAJobGK[][AW]V3WnT?WnT?WAjF:DdJaFzY-DaWAF:V*bGKX:WAYVWFNT?W
T?WAjFDGJaFlTWAJobGKVX:FlDaWiJar"F:bobaY~K[][iKTW]DGF:XW]Y-VFIW]V3g:WATF:V*baFIFIp[AWEK`Vp-Y[AWT?W )DGKppJGK`DdK`V3VY
HIY[]baYr*W 6VeHIF:DGY-JaWgdFlW]V6gcYV"T?W]XW]Y-VWT?WgcDGWAJobGK[][AY{r.F:DatFcbobGY3>NR8KJaWhbGe3K`XW]Y-VFNU3V3K[]F
jW]FVF~KT KJGJoY-HlWAp[AWiK`DGF HIY[]baYT?WrW K6e3VYJor3KDar"K`p[AWiK`HIF:V*baY6T?F:[A[AK0DdKT?WiK`XW]Y-VFK
baebobaWp[AWKVpY-[]W8rW]ebobaY*JqbGY gdFK-TeV3K{TW "DGKX:WAYVFNHIY-VY?T?W]DGF:XW]Y-V3K`[AFMF[iKfJoe3r"FDoU"g:W]F
Y0W][vg:DaWiJqbdK`[A[]Y0JoFHDdK`V3Y4VY-V HIY-JobaDdK`DGFJaF:p-VWT?WvgcDGWiJqbdK`[A[]WAVW]bG> zeFJobGK0JoW]bae"K`X:WAYV3F
FJobaDGF:HfK r(e K-g:g:YHIr3K`p-V3K`DdJaWnYJaY-JobaW]baeWADdJoWK JaWhbGe3K`XW]Y-VWW]V*baFDaHIFT?W]FlWAV6gce3W[ YDdT?W]V3F
K[AeVpY~DdK`p-pWAYjWAF:VFfr.F:DdJaY~HIK~JaWEHfK`V*bGW]FVF *eF:[A[AY}K~gcYDabaYDdK`p-pWAYg:Y-JaWAggdltYV?k
TKHlFV*bGK`[AHIF:V*baFIp-[]WEKVpY-[]WET?W )DdK`p-pj-F:Vp-YVYgcY-V3JoFDaj+K`baW\HIK~g:YVT?F:jWiK`XW]Y-VWrW
YHlFVY~JoWApV3WhU"gK+bGW]j-F'WAV6DdK`r3r"Y-DobGYK`[A[iK HfK`V*bGF:Ve?bGKgcDGWiJqbdK`[A[]WAVW]bGFlT3K`V3T?Y[AeYp-YK-T
K`[A[iK`DGp-K`HIFV-bGY'T?W8YpV3W.r3WAggcYfT?W8T?HW "DGKX:WAYVF->




%& 2 [2([ 73.3/ /1 2

Y-VYfJqbdK+baWnKV3K`[AWAX:XK`baW<;
@->W\HIFg:g:KVWiJoHIW\T?WnJGg:K+babaFDaWAVpH'e[]baWAr[]YIgce3W OJaY`babaYr.Y-JobGK'[iK[Ae3gcFMT?eDdK`V*bGFzWA[nJoe3Y
r"KJGJaKppWAYK+bobGDGK1j-F:DdJoY[AFEr3K`DabaWigcF[][AFET?W-eVMU3[AH V"K`VY*JqbGDae?babaeDdK+bGYgcYVMr3KDobGWAg:Y[iK`DGF
DGW]tF:DGW]HIF:V*bGYMK[][iKOJoe3KO[AY?g:K`[AWAX:XKX:WAYVFT?Y+je?bdKzK[T?WAJaYDdT?WAV
F ]@ FgcYV"JoFpeFV-bGF|WAV?k
g:DaFHIF:V*baY{T?F[][ KJGJoY-DaWAHIF:V*baYl[AeHIW]VY*JoYfTKIr"K`DabaFZT?F[][AFNHIY[AFgcY-[]FMtYbaY*JoFV3JoWAWA[]W
KV3gcY-DGK`baFMJoe3[][iKIJoe3KIJaer.F:DaU"gcWADF =
@=

=>g:YV3TW]XW]Y-VWY`bobGW]HIFWAV'HfK+bGF:DGWAK[]WVFW*e3K`[AW JaY?TT?WiJq!K`bobGYOWA[?[AW]HIW]baFT?W?Y2"FckFpF:[
r.F:D[iKZ[AY?g:K`[AWAX:XKX:WAYVFvg:YHIr[AFcbdKT?F[][iKZ[Ae3gcF-?gcYVg:KHlHIWAVYZ[AW].F:DGYHIFT?W]Ylr3KDGK`k
p-YV3KWA[]FOK`[A[AK[]eV3pFX:XKT\ Y-V3TK3*e"JaKV3T?Y[AY'JobGK`baYlK+bobGe3K`[AFzTF:[A[]FMgcY-VY-JGgcFVX:FvF
DGWiJoe[]bGK`baW8JobGKWA[]W]baW\WAV[]F:bobaFDGK`baeDdK!=
x3>JaY[AeXW]Y-VWOsK`V3K[]W]baWigdFFVeHIFDaWigdFu3K-JaK`baFJae r3DaY?gcFT?eDGFT?WJaY[AeX:WAYV3FT?F[hk
[iK0F*e3KX:WAYVFT\ Y-V3TK0gdF~T?FJGgcDGWAjF [iK6rDaY-r3K`p*K`XW]Y-VF{VF[vg:KJaY6TWvJagK+bobGF:DGW]V3p
F[AK-JqbGWAg:Y TK`[A[AK [Ae3gcFWAV e3V HIFX:X:Y FcbGF:DGYp-F:VFY3_F[iK HIFJGJaK K reV*baY T?WZe3V
r3DaY-pDdK`HIHfK4T?W_gK`[igcY-[]Y0r"FDf[]YJobae3TW]Y7T?F[][iK0rDGYr3Kp-K`XW]Y-VFTF:[A[AK0DdKT?WiK`XW]Y-VF
F[]F:bobGDaY-HIKpVF:baWig:KNWAV JobaDGe?bobGeDGF_YDdT?WAV3K+bGF g:K[Ag:Y[AW"KV3K`[AWhbGWAg:W"r.F:D[iKZrDGFT?WAX:WAYV3F
bGF:Y-DaWig:KIT?F[][ K-JaJaYDGWAHIF:V*baY'[]eHIWAVY-JaYfTKlr3K`DabaFNT?WJoer.F:DaU"g:W8g:Kr?bGKV-bGF>
BF:DW][rDGWAHlYMKJar.FcbobGY3`KDap-YHIF:V*bGKX:WAYVW`baF:Y-DaWigdF|F|JaW]H'e[AKX:WAYVW*VeHIF:DGWAgd3F|JaYVYOJqbdK+baF
JajY[]baFMT?eDdK`V*bGFM*eFJqbGYIrDaWAHIYIbaDGW]HIFJqbGDaFNT?Wn[iK1jY-DaY">RK'"KJaFMTF:[A[ K`DGpY-HlFV*bGK`XW]Y-VF 
[iKV3K+bGeDGKFf[ Y-DaWApWAVFfT?F[|g:KHIr"YF:[AFcbabaDGYHfK`p-VFcbGWAg:Y~Joe[A[iK~Joer.F:DaU"g:W]F{gK`r?bdK`V*baFfT?F[hk
[ Y*JaJaWATYlT?WnbaW]bGK`V3W]Y"3gdFNJoW8r(e {gcY-V3JaWAT?FDGKDaFOgcY-Hlr.Y-JobGKIT?W8pDdK`VW\T?F[][AFZT?WAHlFV3JaW]Y-VW8T?W
*e3K`[igdFET?FgcWAV3KT?W-V3K`VY-HIFcbaDGWT?WiJar"Y*JqbGWWAVNHlY?T?YzK`[i-e"K`V*baYT?WiJoY-DGTW]V3K`baYJae[-Jae3JobaDdK+bGY
gcY*J 9g:YHIFMY`babaF:Ve?bdKITK`[A[ K+babae3K[]FMHIFcbGY?T?Y{T?WnT?Fr"Y*JoWAX:WAYVF->
BF:DT?FJGgcDGW]j-F:DGFbGK`[AF6JaW]bae3KX:WAYVF}JaWzWAHIHfK`pWAV3K[iKDdKT?WiK`XW]Y-VF~F:[AFcbabaDGYHfK`p-VFcbGWAgK
WAV3gcWiT?F:V*bGFMJae[A[AKIJaer.F:DaU"gcWAFNgcYHIFMDGFJar"Y-V3JaKWA[]FMT?F:[A[ Y*Jag:W][A[AKX:WAYVFMT?Fp[AWnK+baY-HIWngdFNgcY`k
JobaW]baeWiJag:YVY_W][HfK+bGF:DGWAK[]F-[iK_*e3K[]F|pFVF:DdKeVgK`HIr.Y_F:[AFcbabaDGYHfK`p-VFcbGWAg:Y_T?WDdKT?WiK`XW]Y-VF
WAVbae?babaFZ[AFT?WADaFX:WAYVWgdFNW]V*bGF:DdK`pWiJGgcFNgcY-VbGe?bobGWWT?WAr"Y-[]Wnr3DaFJoFV-bGW>R8KfJaW]bae3KX:WAYVFNDGWhk
Jae[hbdK`V*baF '*eF[][iK T?WeV0g:K`HIr.Y T?WDdKT?WiK`XW]Y-VFZK`e?bGY?gcYV"JoWiJqbGF:V*baFrDaY+j-Y?g:K+bGY{TK{Y-pVW
T?WAr"Y-[]Y{KIJae3KIjY-[hbdKIJoY-[][AFg:WhbdK+baYIY-[hbGDaFNgdFZTK[8g:KHIr"YfFJqbGF:DGVY3TKf*eF[][AY{T?W\bGe?bobGW8p-[]W
K`[]baDGW>RKIJoY-[]eXW]Y-VFMT?W8*eFJobaYlrDGY[AF:HfK'r(e fFJaJaF:DGF_bGDaY+j+K`bGKg:YVHIFcbaY?T?WT?W8g:K[Ag:Y[AY
VeHIF:DGWAg:Y}JojWA[]e3rr3K+bGW|K[][ e3Yr.Y3HIK}W]V K[Ag:eVWg:KJaWT?Wr3KDobGWAg:Y[iK`DGFlDGWA[]Fj1KVXKr.F:D'[]F
gcF[][AFfT?WODdK`FcbGX:F[r3(e FJGJoFDaF'baDGY+j+K+bGKK`V3gd3FIKV3K`[AW]baWig:K`HIFV-bGF> vVFV3T?Y~*eFJobaFfT?eF
HIFcbGYTWAgdFMJa W MKV3K`[AWAX:XK`baY'W][ngKJaY'T?W\eVJaW]Vp-Y[AY[iK FDT?W\Y*Jag:W][A[iK+baY-DaWJaY`bobGYr.Y-JobaW\K`[A[iK
DdKT?WiK`XW]Y-VFW]V"gcWiT?F:V*baF-r"FDar.F:V3TWAg:Y[iK`DGHlFV*baFzK["[iK FD>yzKeV r3eV*baY'TW.jWiJqbdKKV3K`[AWhbGWhk
gcY NJqbdK+bGY'r.Y-JGJoWAWA[]FODGWAJaY[AjFDaFzW][\rDGY3[]FHIKlKJGJaeHIF:V3T?YlgdFMW][\[iK FD|WAV~=T?WAHIF:V3JaWAYVW
K`3WAKMFJqbGF:V3JaWAYVFHIY[]baYNp-DGKV3T?FF[AFF*e3K`XW]Y-VW3T?F[3g:KHIr"YNF[]F:bobaDGYHfKpVF:baWigcYNJoW"r"Y*Jqk
JGK`VYDGWAT?e3DaDGFlK-T0eVg:KJaY~JagK`[iK`DGF> +ve3HlFDaWig:KHIF:V*baF-nr"Y-W*eFJobaFI[AW]HIW]bGKX:WAYVWJaYV3Y
JobGK+bGF'DGWAHlY*JaJaF>'_DGWAJae[]bGK`baWT?F:WETeFfK`rrDGY?g:g:WJaYV3Yg:YVjFDap-F:V*baW>N[Eg:K[Ag:Y[AYKV3K`[AWhbGWhk
gcYF{*eF[][AYV*e3HlFDaWigcYr.Y-JGJoY-VYFJGJoFDaFIFJobaFJoWEKWAV3g:[]e3TF:DGFle3V0WAV3JaW]FHIF{T?WE[iK F:DMr.F:D
JaW]H'e[AKDaFOWAVHIY?T?YfK`r3rDaY-rDGWAK`baYleVJaWiJqbGF:HfKlbaDGWATW]HIF:V"JoWAYV3K[]F->
|YV DGWhtFDaWAHIF:V*baYK`[zg:KJaYT?F:[zJoWAVpY-[]Y0[iK F:DfFJoWiJobaYV3YTeF~DaFpWAHIWvT?W_rDGYr"K`p-K`k
X:WAYV3FITF:[A[AK[Ae3gcFfWAV3gcWiT?FV-bGF> +_F:[ErDGWAHlY"nVF[*e3K`[AFI[AK[AeVp3F:X:XKT\ Y-V3TK fHIW]V3YDGF
T?F[][AFlTWAJobGKVX:FlDaF:baWigcY-[AKDaW\JoW3KJGg:K+babaFDaWAVpTW )|DdK`p-p{FI[AKDdKT?WiK`XW]Y-VFZjW]FVFIDaWAVjWAK`k
bGKWAV4HIY?T?Yg:YV3JaWiJqbGF:V*baFlJoY-[]YKg:F:DabaWK`Vp-Y[AWDGWiJor.FcbabaYK[][ K`Vp-Y[AY T?WWAV3gcWiT?F:V3XK> +_F:[
JaFgcY-V3T?YIDGF:pWAHIF3*eF[][AYfWAVg:eW8[iKI[AeVp3F:X:XKfT\ YV3TK NHfKppWAYDGFMT?F:[A[]F'T?WAJobGKVX:FNDGFck
baWigcY-[AKDaF-[ Y-V3TK'T?W )DdK`p-p zJaY-JobaW]baeW]bGKZT3KZeVn YV"TKZDGWh"FJGJaKNFOTKNeV8 Y-V3TKNbGDGK-JoHIFJaJGK
gdFZFJaKeDGWAJGgcY-VYIW]V3JaWAF:HIF[ FVF:DGpWiKIr.YDabGK+bdK{TK[g:KHIr"Y{WAV3g:WAT?FV*baF> 8e?babGK1jWiKfW]V6g:K+k
JaYJobGKX:WAYV3KDaWAY3\jW I[AKg:YHIr3K`DdJGKT?We3Vn Y-V3TKFJar.YVFVX:WiK`[AHIF:V*baFI[AYgK`[AW]XXK`bGKJoe[A[iK
Jaer"FDoU.gcWAF[iKI[]e3VpFX:XKfT?Wn[AYgK`[AW]XXKX:WAYVFMFJGJaF:V3T?YfT?F[][ YDdT?W]V3FZT?F:[A[]F'T?WAJobGKVX:FNDGFcbGWhk
gcY-[AKDaW\gdFIJoWET?WiJobaDGW]e3WAJGgcFIJoYbobGY tY-DaHfKT?WeVn YV3T3KJobGKX:WAYV3KDaWiK Jae[[AK -F:DMgcY-V4eV3K
[AeVp3F:X:XK~T\ YV3TK4T?F:[A[ YDdT?WAVF{T?F[][AF T?WiJqbdK`VXF{DGFcbaWigcY-[AKDaWFgcYVWJoe3YWHfK-JaJaW]HIWJae?k


@x

p[AWY-JGgcWA[][iK+bGYDGW>[HlY?T?e3[]YT?F:[EgK`HIr.YF[]F:bobaDGWigcY~T?WbGK[]FlYV"TK r3e( ~KJGJoeHIFDaF'j1K[]Y-DaW


FJobaDGF:HfKHlFV*baFOF:[AF:j+K+bGW>

 


       


 
         


 b2 ,6!.3'6+4/1.324,).  ,6+473. [ . - !.32 6, .")737T.3, 


) ')[4 , 2 '6 7 62 -73 6' 7  6, 2 '6. 9.3 
12  !  / .32 ,6 73




ze3KV-bGY}DGW]r.YDabGK`baY}VF[rDaFJoFV*baFgK`rW]baY-[]Y43K4[AY6JGgcY-r"Y0T?W|tYDGVW]DGF e3V3K4T?FJag:DaWAX:WAYV3F
JaYHIHfK`DGWAKT?F[][iK7HIF:baY?T?Y[AYp-WAK T?WOgK`[igcY-[]Y gd3F4jFDaDde3JGK+bdKr"FD[AY Jobae"T?W]Y baFYDGWAg:Y
TK[reV*baY}T?WjWiJqbdKgcYHIrebGK`XW]Y-V3K`[AFfT?F:[A[AFIg:F:[A[]F{JaY[iK`DGWKgcY[AYDdK`V*bGFYDGp-KVWigcY3>IRE K+k
Jar"F:bobaY4V*e3HlFDaWigcY~jWiK`p-pWiKr"K`DdK`[A[]F[AKHlFV*baFfK`[A[]FgcYV"JoWiT?F:DdK`XW]Y-VWbaFYDGWAgd3F{K`V3K[]W]baWigdF
WAV-bGF:p-DGKV3T?Yf*eFJobaFNFMtY-DaVFV3T?Y{JareV*baWr"FDvreV*bGWT?Wj*WiJobGKfK`[]baFDaV"K+baWAjW"gcY-:J 9g:YHIFN[]F
gcY-V3JaWAT?FDGKX:WAYVW"baFYDGWAgd3FOJaF:DGjY-VY'T?W\p-eWiTKlr"FD[]YfJobae3T?WAYIVeHIF:DGWAg:Y3>y_HW "F:DGWAJGgcFMr.F:D
TKFJGJaF'WAVHIKVWAF:DdKJaY-JobGKVX:WiK`[AFVF[][iKrDGY-Jar"F:bobaWAj+KT?F:[A[]Y~JGgcY-r"Ye[]baWAHlY">IV6)F ".F:bobaW
.F:V3gdbGKV*baY4p-[]WJobae3TWbaF:Y-DaWigcWgcY-HIF*eF[][AWHlY?T?F[][AWiJqbGWAg:Wg:F:DdgdWAVY6T?WtY-DaVWADGF eV3K
T?FJag:DaWAX:WAYVFT?F:[tFVYHIF:V3Y4U"JaWigcYJoYbobaY*JqbdK`V*baF*eFJobaWT?WiJor.Y-JaW]baWAj*WbGF:V*bGKV3T?YT?WvK`e?k
HIF:V*bGKDaF_VF:[A[AKHfK`pp-W]Y-DHIWiJoeDdKNr.Y-JGJoWAWA[]FO[iKgcY-VY-JGgcFVXKNTW*eFJqbGYZtFVYHIF:V3Y3*VF:[A[AK
rDdK+bGWAgK WHIFcbGY?T?WEgcY-Hlr3e?bGKX:WAYV3K[]W %,)/B8 7 WDaWiJoe3[hbdK+baWDdK`p-pWAeV*baWbaFYDGWAgK`HIF:V*baFIgcY-HIF
reV*bGYMTWr3K`DabaFVXKOr.F:DDdK`p-pWAeVpFDaF|eVI[]WAjF[][AYMT?W3T?FJag:DaWAX:WAYVFe[]baFDaWAYDGF+Fvgd3FWAHIr[AWhk
g:KltY-V3TKHlFV*bGK`[AHIF:V*baFN[iK{gK`r3K-gcW]bGfT?Wr"YbaF:DzT?WAJGgcDGWAHlWAV3KDaF-?baDdK{T?WAjFDGJaFNK`[]baF:DGV3K`baWAjF
*eF:[A[iK'HIWAp[AW]Y-DaFO'Y 7B.<.>* ( /+>
V*eFJobaW-rDGW]HIW-baDGFEHIFJaW*T?W*[iK1jYDGYJoY-VYvJobGK+bGFT?FgcWiJoF|[]FTW]DGFcbabaDGWAg:W-gdF|peWiT?F:DdK`V3VY
baebobaY4W][|[AK1j-YDGYJae3g:g:FJGJoWAjY">WEDGW]baWAF:VF gd3Ff[ KJar"F:bobGY4T?WErDGWAHIKDaWiKWAHlr.YDabGKVXKr.F:D
[ KeHIF:V*baYvT?F[][ #F {gcWAF:VXKvT?F[][AF|g:F:[A[]FTW*ODdK`FcbGX:F[`DaWiJaW]FTKVF[`tF:V3YHIF:VYzT?W-gK`r?bdK`X:WAYV3F
T?F[][iK[Ae3g:FOTK'r3KDobGFOT?F[\Joe"JqbGDGK`baYZtY-DaHfK`baYITK`[\JaF:HIWAg:YV3Te?bobGYDGF'stY*JaJaWiT?Y'T?WbGWhbdK`VWAY*u
FNTK`[gcY[AYDdK`V*bGF_YDGp-KVWigcY3>
y_F:bobGY{-e3FJobaY3?DGWAHIKVFNgdWiK`DdK[iKlVFg:FJGJoW]bGIT?WnT?WiJar"Y-DaDGFNT?W\eVHIFcbaY?T?Y{K-T?F:p-e3K+bGY
gdF g:YV3JaF:V*bdK~[AK4T?FJGgcDGW]XW]Y-VF{T?F[][ WAV*baFDGKX:WAYVFfbGDGK}[AK~[Ae3g:F F WA[|Jae3JobaDdK+bGY4JaF:HIWAg:YV?k
T?e?babaY-DaF->yzWAjF:DdJaF_gcY-V3JoWiT?FDGKX:WAYVW?bGF:Y-DaWigdF_JaYVY'JqbdK+baF_!K+babaFOW]VWAX:WiK`[AHIF:V*baFzr"FDgK`rWADGF
JaFztY*JaJaFNVFgcFJGJGK`DGW]Yl[ e?bGW][AW]XX:Y{T?F[][iKIHIFgg:K`V3WAgKl*e3KV*baWiJqbGWAgKsKggceDdK+bdKHfKfgcY-HIr[]FJqk
@P

JGK-uK'-e3FJobaYJGgcY-r"Y'YJoF_tY-JGJoFzJoe {g:W]FV-bGF_[ F[]F:bobGDaY?T?WAV3K`HIWig:K'gc[iKJGJoWig:KfsK`rrDGY-JGJaW]HfK+bdK


HfKDaF[AK`baWAj1KHIF:V*baF'!Kg:W][AFfTK{bGDGK`bobdK`DGFu >I^v[A[iK U"VF IJobGK`baY~T?FgcWiJoYgdFf*eFJob e[]baWAHIK
eVn K`[]baFDaV3K`baWAj+K4rDdK+bGWAgK`WA[AF> _V3K6DaWigcFDGgK4WA[AW]Y-pDdK+U"gK}e[]baFDaWAYDGF "K0g:YV3JaF:V*bGWhbGY
T?Wg:K`r3W]DGFZgdFN[iKIHlY?T?F[][iK`XW]Y-VFZT?F[Jae3JobaDdK+baY{g:YHIFNeV3KfJaF:DGWAFZT?W8Y*Jag:W][A[AK`baY-DaWngK`DGWAgdW
s!TW]r.Y[AWiu|tY-DaV3WAJGgcFMWnDGWAJae[]bGK`baW\DGWAgdWAFJobaWng:YV[AKlVFgcFJaJGK`DGWAK'rDGFg:WAJaW]Y-V'F . >
[HlF:baY?T?YT?WEg:K[Ag:Y[AY{pFVF:DdK`[AFZrDGF:j-FT?F'[ e?bGW][AW]XX:Y~T?W*eFJobaWDGWAJae[]bGK`baWr"FDOr.Y`bGF:D
WiT?F:V*baW]U"gK`DGFNW8reV*bGW8Y`babaWAHfK`[AW8r.F:Dv[iK{JaY[AeX:WAYVFNT?F[8rDGY3[]FHIK3>R )F {gcWAF:VXKIFZW][8teV?k
X:WAYV"K`HIF:V*baY~T?WeV3K~gcF[][iK~T?W|ODdK`F:baXF:[T?WAr.F:V3T?Y-VY}TKeV"KHlY-[hbGF:r[AWigcW]bG~T?W!K`bobGYDG>W ;
HfK+bGF:DGWAK[]W*TWAJar"Y*JoWAX:WAYV3F_pFYHIFcbGDaWig:KNTF:W\gcY-Hlr.YV3F:V*baW?T?WAJar.Y-JaW]XW]Y-VFzT?FW"V"K`VY-pDdK`Ve[AW
T?F[-Jae3JobaDdK+baYJaF:HIWigcYV"T?e?bobGYDGFEK[]WAjF[][AYHIWAg:DaY*Jag:YrWigcY":rDGFJaF:V3XKY_KJGJaF:VXKTWYDdT?WAVF
Fgg`>R8KOHIFcbaY?T?Y-[]Y-pWiKvFJag:YpW]bGK`bGKzgcYV"JoFV-bGFW]V'baFYDGWAKOT?W?WiT?F:V*baW]U"gK`DGF|[iKMgcYH'WAV3K`XW]Y-VF
T?WbaebobaWE*eFJqbGWr3K`DdK`HIFcbGDaWgdFlgcYV"JoFV-bGF'T?WHfK-JaJaW]HIWAX:XK`DGFZ[ #F {g:W]FVXKT?F:[A[AKgcF[][iK{Y
*e3K`[igdFvK[hbGDaYNr3KDGKHIFcbaDGYMW]VfDGF:[iK`XW]Y-VFgcY-Vf[AKN)F {gcWAF:VXKr.F:DGHIFcbabaF:V"T?YT?W"jF:DGW]U"g:KDaF-
rDGW]HfKZKV3gdFOgdFzJaWAK'gcY*JqbGDaeW]baYeV{rDGY`bGY`baWAr.Y3JoFzeVgK`H3WAKHlFV*baYZWAV *eFJobaW.!K`bobaY-DaW
r(e rDaY+j-Y?g:K`DGFeV K`e3HlFV*baYZYZHIFVYT?F[][iKZ*e3K`V*bGWhbdZT?W"g:YDGDaFV*baFF:[AFcbabaDGWAgKNrDGY?T?Y`babGK>


$

b73 !. * 14/1.324,)5'6 7 )[2 -73 737 >.3, +[,)2 '6 7373
 2 [.3('6 7373 24 -73 !.




 

vV /( 77##1* ( / [iKvDGWAgd3W]FJqbdKvKDGWAJar"Y-V3T?FDaFK-TNeV3KzT?YHfKV3TK_g:W]Ddg:Kv[]F|rDaY-rDGW]F:bGvT?W*eV3K


JobaDGe?bobGeDGKOHfK+bGF:HfK+bGWAgKOW]VIteV3X:WAYVFvT?W3r3K`DdK`HIFcbGDaWg:Y-JobGKV-bGW?FvT?F:W3j1K[]Y-DaW?V3YV'U"JaJGK+bGW3T?W
j+K`DGWAKWA[]W>RK .!J7B(+*:/ 2)131H/ &J7.(/ 1*+,J,+*3. fgcFDGgK'T?W\JobGKW][AWADaFMJoFMeVrDGY[AF:HfK'JoWiKZ!K-gcWA[]F
Y}T?HW {gcWA[]FTKDaWiJaY[AjF:DGF> )WAJaYp-V3KgcYV"JoWiT?F:DdK`DGFfgdF{[iK~T?HW fg:Y[]bG}TWeVrDGY3[]FHIK 
eV3K4g:K`DdK+babaFDaWiJqbGWAgKpF:V3F:DdK`[AFfF VY-V  KJGJoY?g:WAK`bGK~K~eV"K~WAJobGKVXK}Y4g:K-JoY~r3KDobGWAg:Y[iK`DGF
T?F[rDaY-[AF:HfKJobaFJaJaY3>'BF:DMDaWiJaY[AjF:DGFe3V6rDGY3[]FHIKWiJoY-pV3KT?FcU"VW]DGFIe
V /B1  7B(+*3.( 7`
Y+jjFDaYleV~HIFcbGYTY gdFJaWJajY-[]p*Kr.F:Dzr3KJGJoWJoe3ggcFJaJaW]jWnWAV}gce3WnbaebobaWW8r"KJGJaKppWnJaYV3Y
r.F:DatFcbobdK`HIF:V*bGFZT?FcU3V3WhbGW>
yzK*e3K`V*bGY T?FcbabaYT?WiJag:F:V3T?FIgdF'[AKgcYHIr[AFJGJaWhbd{T?WeV4r3DaY-[]FHfK T?WAr"FV3T?FITK`[A[iK
FJaWiJqbGF:VXK_YOHIF:VYNT?W?eVIK`[ApY-DaW]baHIYOT?W3JaY[AeX:WAYVF|#F {gcWAF:V*bGF>BFDHIWAJaeDdK`DGF[ )F fg:W]FVXK
T?W|eV7K`[ApY-DaW]baHIY3W]Vj-FgcF-3WAJaYp-V3K~T?FcbGF:DGHIW]V3KDaFf[iK &J7 (/1+,J,+*3. &J7 (/6 .G/)*:728/B1 Y
.&(/!7 2* ,)7B1  )*:7B80NT?F[][AYlJobaFJaJaY3?T?Y+j-F_r.F:DbaFHIr"YfT?W\JaY[AeX:WAYVFOJoWWAV*baF:V"T?FMW][VeHIFck
DGYHfK-JaJaW]HIY~T?WEY-r"FDGKX:WAYVWF[]FHIF:V*bGKDaWVFgcFJaJGK`DGW]FfK[][ K[]p-YDGWhbGHIY r.F:DZDGWAJaY[AjFDaFleV3K
WiJqbdK`VXK~T?WeV"K}T?WAHlFV3JaW]Y-VF TK`bGKF gd3IF  *eWAV3T?WWAV3T?WAr.F:V3T?FV*baFT3K`[A[AK~j-F:[AY?gcW]bG~T?W
FJaFg:eX:WAYV3F}T?F:WOg:K`[igcY-[]WJoWiK`V3YFJGJoW!K`bobGWzTKe3V eHfK`VY7Y7T3KeV3KHfK-g:gdWAV3K>
TK{JaY`babaY-[]WAVFKDaFZgd3FZW][8baFHlr.YTWJaY[AeX:WAYV3FZT?W]r.F:V"T?FFVYDGHIF:HIF:V*baF'TK`[8!K+bobGYgdFW][
rDGY[AF:HfK}JaWiK &J7 2*  &J/B.G7 ( / 2*:7286 3 721 (9)89.:|FgcWAY VYV W]V*bGDaY?T?e3gK4TK`baWW]DGDGW][AF:j+K`V*bGF
VNDGWAgd3W]FTKe3V3KIpFVF:DdK`XW]Y-VF_FJor.YVFVX:WiK`[AFNT?W8TK`baWnFNV3YVgcYV*bGF:Vp*K'[iKlpFVF:DdK`XW]Y-VF
T?F[][AFNJoY-[]eXW]Y-VWnT?F[nrDGY[AF:HfKlJqbGFJGJoY">
yzK[reV*baY~T?WjWAJobGKT?F[][iK g:YHIr[AFJGJoW]bGgcY-Hlr3e?bGKX:WAYV3K[]F-"eV"K r.Y-JGJoWAWA[]FIgc[iKJGJaWhUk
g:KX:WAYVFMT?FWnrDGY[AF:HI W N[iKlJaF:p-eF:V*bGDF ;
E tr3e3DaVY-X:WA[]YFVHIFOW"T?T?W"W3g:baYWAr"HIY'rr"[AFY-JG[]JoWAW]VbGYMHIV3WiF:K`["[AFZbaF:s HI) r.kYBT?Y-F[ [3bGVW]r.Y-HlY WiK`[  baWAHl *FOg:K`Y[AV pY-8DaW][AbaKZH{TW]#uHI;8F:3V"KJoVWAYVVYNFzeT?V3F:K [
r3DaY-[]FHfK> zeFJobaYIJaW]p-VWhU.g:KIgdFM[ K`[ApY-DaW]baHIY"*r.F:DDGWiJoY-[]j-F:DGF_WA[\rDaY-[AF:HfKIT?F:j-F
DGFK[]WAX:XK`DGFze3VVeHIFDaYIT?WnY-r"FDGKX:WAYVWF:[AF:HIFV-bdK`DGW 2)131 $ 7B( B*386lT?W  %=












@w

E 3r* eDaY-FW[]rFDGHIYW[ATF:W-HIbGW]Wr.WAYVIpF) VF:sDG7F|BV38$YVI7#Da.Wi)Ja(Y([Aj**3WA8 *-WA,J[]W?.<*:WA& Vl) baF7BHl1 %Br.8 YZ7 ( r.*:Y/B[AW]19V3.<Y* ( HI WAK/B[]F1  Hf7B(+KM*3. ,r.({F:Du#W3;*Jae3YV3K[]Y W
z r"Y*JaJaWAW][AF$,)/?/5)(OWAV{baFHIr"Y'r"Y-[]WAVYHIWiK`[AFzJaF_eV"KJaY[AeX:WAYVF_r"YbaF:V3X:WiK`[AFzJaYT3T?Whk
Jo!K'W][\rDGY3[]FHIK3*g:W]Y%- z F)." F:bobaWAj+K`HIF:V*bGFOe3V3K'JaY[AeXW]Y-VFOTF:[rDGY[AF:HfK>WnT?WigcF
KV3gdFEgdFW][-rDaY-[AF:HfK  baDdK+babGK`3W][AFEWAVMbaF:HIr.Yvr.Y[AW]VY-HIWAK[]FVY-VNT?FcbGF:DGHlWAVWiJqbGWAg:Y9=
E r3r3DaDaY-Y-[][]FFHIHfWK7T?T?WF:ba[AWA[ir.K Ygc[iK)JGJaF 9+vs B+_B gd3gcF'Y-HI6 rK[][]F:HIbaW F:u+V3v; Y KrT?r3WHfgK`Da:baW]WA[AF:F6V3F*e3K K*V*ebaY FJqbdKK{[hbGDag:Y7K`baF:r3p-DaYY-DGWA[]KIFHfe3V K
WAV +vB>"z eFJobGKg:K`baF:p-YDGWAKI' HIY[]baYWAHlr.YDabGKV*baFlW]V6W]V?tY-DaHfK`baWig:K baF:Y-DaWig:K3\TK+bGY
gd3FJaW|r3e 0TW]HIY-JobaDdK`DGF gdF-JaF eV rDaY-[AF:HfK>+_Bkq  DGWAJaY[AjW]3W][AF WAV7bGF:HIr"Y
r.Y[AWAVYHIWiK`[AFn[AYJaYV3Y bGe?bobGWEWrDGY[AF:HIWWAV4+_B>8V6rDdK+bGWAgK*eFJqbGYjeY-[]FIT?WADaF
*e3KV*baYJaF:p-eFD; TK+bGYZW]["rDGY[AF:HfKMrW T?WH{gcWA[]F6*= JaFv[AYJoW"reYZDGWiJoY-[]j-F:DGFWAVfbGF:HIr"Y


r.Y[AWAVYHIWiK`[AF8K[][AYDdKJaWr.Y-JGJoY-VYDGWiT?eDGDaF'bae?babaWEp-[]WEK[hbGDaWr3DaY-[]FHIWTF:[A[AKgc[iKJGJaF
K-TFJGJoYlW]VbGF:HIr"Yfr.Y[AWAVYHIWiK`[AFOFMDGWAJaY[AjFDa[AW>
|YHIFMFJaF:HIrWAY{T?Wnr3DaY-[]FHfK'B KWiK`HIYI[ YDdT?WAV3K`HIF:V*bGYITWneV3KfJaF:DGW]FNT?W 8}VeHIF:DGW
gdF'3K{gcY-HIr[]FJaJaW]bG  stY-pVWVeHIF:DGY T?F:j-FZFJGJaF:DGFgcY-Hlr"K`DdK+baY{g:YV~bGe?bobGWp[AWK[hbGDaW u >
BEDGY[AF:HI5W +_B6bGW]r3WAg:W3JoY-VYMK`[igceVW?r3DaY-[]FHIWT?W?Y`babaWAHlWAX:XK`XW]Y-VDF ;W][?rDGY3[]FHIKOT?F[3gcY-H'k
HIFJGJoYjWAKppWiK+bGYDGFZT?WY`babaWAHIW]XXK`XW]Y-VF'TF:[r"FDGg:YDdJoY 'eV0rDGY[AF:HfK VYV4baDdK+bobdK`WA[AF
WAVfbaFHlr.Yr.Y[AWAVYHIWiK`[AF*HIKTK+bGFzT?eFOJoY-[]e3X:WAYVW8s  r"FDGg:YDdJoW uJaW3r e 'g:KrWADaFvWAVfbGF:HIr"Y
r.Y[AW]VY-HIWAK[]FJoFeV3K HlWAp[AWAYDGF|T?F[][ K[hbGDG9K =`JoFeVlYDdKg:Y[AYpF:V3F:DdKJGJoFbae?babaF[]FJaY[AeX:WAYVW
r.Y-JGJoWAWA[]WJoWr.Y`bGDaF"FNgK`rWADaF-?r3K`DdK`p-YV3KV3T?YN[AFNJoY-[]eXW]Y-VW\T?eFNKIT?eFMFMYp-VWjY[]bGK'WAV
baFHIr"Ylr"Y-[]WAVY-HlWiK`[AF?*e3K[ z[iKlJoY-[]eXW]Y-VF_YbobGW]HfKlT?F:[\rDGY3[]FHIK3> ze3FJobaFzbaDGFOgK+baFpYk
DGW]FlVYVJaYVYJoFr3K`DdK+bGDF ;_[AFfg:K`baF:p-YDGWAK{B 9F +vBEkqmJoY-VYTeFfJoYbobaY?g:[AK-JaJaWT?F:[A[AKgc[iKJGJaF
+vB.FT Zr.F:DO*eFJobaY gd3FJoWr"FV3JGKfgdFZVY-V}JoWiKfr.Y-JGJoWAWA[]FNbGDaY+j+KDaFMeV3K JoY-[]eXW]Y-VFNWAV
baFHIr"Y'r"Y-[]WAVYHIWiK`[AFvr.F:De3V{rDGY[AF:HfK +_Bkqz,> +vF[.gKJaYZJoW.r.Y`baFJaJaF!KDaFve3V3Kg:Y-JGKNT?F:[
pFVF:DGFO[]FZg:[AK-JaJaWB
F +_B JaKDaF.F:DGY[iKfJqbGFJGJaK'FNVYVWAV3gc[Ae3JGK'[ eV3KIVF[][ K[hbGDGK3>
BF:D'gK`rWADGFfW][|r"FDGgd{TW*eFJqbdK~gc[iKJGJoW]U"g:KX:WAYVFIWiJaYpV"K bGF:VFDrDGFJaF:V*bGF{gdF{WAV
WAV?tYDGHfK+baWig:K0bGF:Y-DaWig:KJaY[AYp[AW_K`[ApY-DaW]baHIW_T?F[][iK7g:[AK-JaJaFB 3K`V3VYeV K`[ApY-DaW]baHIY#F Ik
gcWAF:V*bGF'T?WJaY[AeX:WAYVF-Y WAV6K`[]baDGFr"K`DGY[AFJoY-[]Y{p-[]WK[]p-YDGWhbGHlWB r.Y-JGJoY-VY{FJaJaF:DGFDGWAJaY[]baW
2).#(( *389*-,+.<*:& /.(9)89.WAV bGF:HIr.Y6DdK`p-W]Y-VF:j-Y[AF>y_F:baFDaHIWAVWAJobaWig:KHIF:V*baFJoWApV3WhU"gK4gdF
JaWr3(e 38KV3K`[AW]baWig:K`HIFV-bGFYVeHIF:DGWAgK`HIF:V*bGFDGKpp-W]eV3pF:DGIF 1H/}JoY-[]eXW]Y-VF'JaF 'e3VWAgK Y
[iK (*D14*:72(IJoY-[]e3X:WAYVFNVF[gKJaY{JoWiK`V3Yfr"Y*JaJaW]3W][AW8rW 4T?WeV3K3>_O[]WW]VtYDGHIK`baWigcW8baF:Y-DaWigcW
gcY-V3JaWAT?FDGKVYZp-[]W\K`[ApY-DaW]baHI0W +vB W]VpFVF:DdK`[AF_V3YV{bGDGK`bobdK`WA[]WHfK?K`bobaFVX:WAYV3Fr"Y*JaJaYV3Y
FJGJaF:DGFDaWiJoY-[]jWAWA[]<W ;JaF_e3V{FJGJoFDaFvJaF:V3X:WAF:V*baFzYHIVWiJag:F:V*baFtY-DaV3WAJGJoF_[AKZJaY[AeXW]Y-VF_T?F["rDGY`k
[AF:HfK\JaWr.Y`bGDaF.F'j-F:DGWhU"gK`DGFNW]V4baFHlr.Y r.Y[AWAVYHIWiK`[AF\gcWA%Y DdK`pWAYV3F:jY-[]F-"JaF'*eFJqbdK
j+KI"FVF> +_K`baeDdK`[AHIF:V*baF-eV}K[]p-YDGWhbGHlYfT?W*eFJobaYIbGW]r.Y{VY-VFJoWiJobaF>R8KIV3YVbaDdK+babGK+k
WA[]W]bGNTF:DGW]j+KNTK[?!K+babaYZgdFWA[VeHIF:DGYNT?W3Y-r"FDGKX:WAYVWTKMDGFK[]WAX:XK`DGF|r.F:D[AKMDGWAJaY[AeXW]Y-VF
VY-V MDGKpWAYVFjY-[]F->yOK'e3Vn K[hbGDGK'r3KDobGFOg:WnJoY-VY'r3DaY-[]FHIW 87B8 (+*-,)721 3 * #)*314*WAV bGF:DGHlWAVW
KJGJaY[Ae?ba<W =rDaY-[AF:HIWT?W-e3FJobaYbaWAr.Y4JoY-VYVeHIF:DGY-Ja>W ;ZWA[r3DaY-[]FHfK~T?F:[A[AKtFDaHfK`bGK~T?W
eDaWAVp"3WA[8rDGY[AF:HfKfT?WT?WAHlY*JqbGDGKDaFNKfr3DaWAYDGWn[iKIbaFYDGF:HfK+bGWAg:WhbdfT?W8eV"KfrDGYr.Y-JaW]XW]Y-VF
K`[A[ WAV*baF:DGVY~T?WEe3VJaWiJqbGF:HfKtYDGHIK[]FIWAV3KJaF{KgcYV"JoWiT?F:DdK`XW]Y-VWbaWAr"Y-pDdK+U"gd3F'DGF:[iK+bGW]j-F
K`[A[iKZgcY?T?W]U"g:KT?F:[A[AKrDGYr.Y-JaW]XW]Y-VFvJqbGFJGJaK s baFYDGF:HfKZT?Wn|eDdgd"u -YWA["rDGY3[]FHIKK`V3K[]Yk
pYfT?WT?W]HIY*JqbGDGKDaFMKlrDaWAYDGW[AKIj-F:DGWhbd'TWneV3KIrDGYr.Y-JaWAX:WAYVFMK`[A[ WAV-bGF:DGVYfT?WneV~JaWAJobaFHfK
tYDGHfK`[AFlstbaFYDGF:HfKIT?W K`DdJ @W u >
BF:De[]baWAHIY3[iKZbGF:Y-DaWiK'TF:[A[AKIgcY-HIr[]FJaJaW]bG MKrr[AWAgK`WA[AFMKlrDGY3[]FHlW\T?WT?Fg:WAJaW]Y-VF
@1

WAV g:eWv[iKDaWiJar"Y*JqbdK 4?'Y + 'HIKr3e( FJGJoFDaFFJqbGFJGK4!K-gcWA[]HIFV-bGF}K0rDaY-[AF:HIW_T?W


GD WAg:F:Ddg:K'FOYbobGW]HIWAX:XKX:WAYVF->


X  2   /1.02 ,)'6 7 62 -73'6. ![2 c  73  ! 


")2 .0 73 ') 7370  7373 2 732  ,  2  6, . 2






%





?JobGK+bGY'T?F:bobGY'VF[rDaFgcFT?F:V*baFOr3KDGKpDdK+tYNgdFOW][DGF:V3T?WAHIF:V*baYlT?F:[A[AFOg:F:[A[]FMT?WnODGKFcbGX:F:[
?T WAr"FV3T?FZTK'eV3KlHIY[]baFr[AWAg:WhbdfT?W!K+babaYDGW>yzYr.Ylbae?babaFZ*eFJqbGFMg:YV3JaWiT?F:DdK`XW]Y-VW\JoW MWAV
pDdKTYlT?WT?FcU"VW]DGFZKTF:pe"K+bGKHIF:V*baFMWA[8rDGY[AF:HfKIT?F[][ KeHIF:V*baY{TW8F#{g:W]FVXK9; :)+
)+2!4-"5 !, "  
( E?)+57*)1 |(22!~22!~2!~1~2!~)+4 

   K> zeFJqbGY OeV rDGY3[]FHIK'T?WY`babaWAHlWAX:XK`XW]Y-VFzgdWiK`DdK`HIFV-bGFvVY-V DGWAJaY[AjW]WA[AF
WAVbaFHlr.Y4r.Y[AWAVYHIWiK`[AF> zeWAV3T?WVYV eV7rDGY3[]FHIK}BHfK +vBr.F:Ddgd TK`bGK}TK
eVfFJaJaF:DGFJoFVX:WAF:V*baFvTeF_JaY[AeX:WAYVFvKDa3WhbGDGKDaWAFTF:[3r3DaY-[]FHfK`Y-pVeV3KNgK`DdK+bobGF:DGW]XXK`bGK
TKIeV"KfT?FcbGF:DGHlWAV3K`bGKfgcY-HWAV3KX:WAYVFNT?Wr3K`DdK`HIFcbGDaW3JaWnr(e {gK`rWADGFNW]VbGF:HIr"Y r"Y-[]WAVY`k
HIWAK[]FO*e3K`[AFzT?F[][AFzTeF MJaer"FDaWAYDGF> zeFJqbGYK`[ApY-DaW]baHIYZWAV{bGF:HIr"Y'r"Y-[]WAVY-HlWiK`[AF_jWAF:VF
gdWiK`HfK+bGY~Kj-Y[]baF{KV3gdF 5? 8#)*:7B80 77##* ).<.>* 3 7+>R8KVY*JqbGDGKteV3X:WAYVFfY-W]F:bobGW]j-YjWAF:VF
tYDGVW]bGKTK`[A[AK{F:[AFcbobGDaY?T?WAV3KHlWig:Kgc[iKJGJoWig:K{F'gcY-V3JaWAJobaF'VF:[g:K[Ag:Y[AY T?F:[gK`HIr"YF:[AFcbabaDGWAg:Y
T?FW8T?WAr"Y-[]WgcYHIr.YVFV*baWnWA[8HfK+bGF:DGWAK[]FNJaF:HIWigcYV"T?e?bobGYDGF>|[8g:KHlr.YfF:[AFcbabaDGWAg:Y{T?F:[JoWiJobaFck
HfK~gcY-V3JoFV*baFfWAV[]WAVFK~TWHfKJGJoWAHfKW][g:K`[igcY-[]Y~T?F[][iK~*e3K`V*bGWhbd~T?WFVF:DGpWiKbaDdKJotF:DGWhbdK
[AeVpY'W][\g:W]DdgceW]baY'Fz*eWAV3T?W\T?F["bdKJGJoYlT?W\gcY-V*j-F:DdJoWAYV3FvT?F:[A[AKF:VFDap-WAKZF:V*baDdK`V*baFzW]VF:VFDok
pWiKF:[AFcbabaDGWAgKst#F {g:W]FVXK*u > Or3KDobGWAg:Y[iK`DGWTF:[|gK`[igcY-[]YT?F:[A[iKteVX:WAYV3F{YWAFcbabaWAjY"8gcY-V
baebobaFN[AFZJaeFMW]HIr[AWAgK`XW]Y-VWU"JaWAgdF-3JaYVYIT?WiJag:e3JaJaFMVF:[K`rW]baY-[]YIx>
8ebobaFl*eFJobaFZT?WiJapDGFJGJoWAYVWnJaYV3YITW8WAHlr.YDabGKVXKltY-V3TKHlFV*bGK`[AFN*e3K`V3TY{JoWj*e3Y[AF
BK "DGYV*bGKDaFO[AKlDGWAJaY[AeXW]Y-VFNT?WneVrDGY[AF:HfKIT?WnVeY+j-YbGW]r.Y{gcY-HIFM*eF[][AY{gcY-V3JaWAT?FDGK`baY"
FT r"FDE*eFJobaYNgdFr.F:V3JaWAKHIYOgdFVF[][iKO[]F:bobGF:DdK+bae3DGKOJag:W]FV*baW]U"g:KOJoe3[][ KDap-YHIF:V*bGY_VY-V
JaWnbaDGY+jW]V3YfDaWiJoe3[hbdK+baW8baFYDGWAg:WT?WDaWA[AF:j+K`VXK>R8K{DaWigcFDGgKfK+bobGe3K`[AFNtY?g:K[]WAX:XKI[ K+babaFVX:WAYVF
FJGgc[Ae3JaW]j+KHlFV*baFvJae["gK`[igcY[AYZT?W.-e3F:[A[]Ygd3Fvr"FDVY-9W v[iKMteV3X:WAYVFvY-WAFcbobGW]j-Y3-baFV-bdK`V3TY
T?WY`bobGF:VFDaF'gcDGWhbGF:DGW8r.F:DOr"YbaF:DOg:KrW]DGFNWA[8tFVYHIF:V3YfU"JaWAg:Y JoYbobGY-JobGK`V*bGFN[]FlgcF:[A[AF>vyOK+bGK
[iKfW]HIr.Y-JGJoWAWA[]W]bG T?WYbobGF:VFDaFZe3V3K{JaY[AeX:WAYVF'K`V3K[]W]baWig:Kfr.F:DzW][rDGY[AF:HfKfT?Y+je?bGY K`[A[iK
rDGYrDGWiK{V3K`baeDdKHIK`baFHIK`baWig:K3nJoWbGF:V*bGKT?WEYbobGF:VFDaFfgcDGW]baF:DGWgdFIpeWiT?WAVYW][HIY?T?Y~T?W
Y`babaFVF:DGFIeV0KeHIF:V*baY~T?F[][AFfrDGFJobGKX:WAYVWT?FWET?WAJar.Y-JaWhbGW]jWK`bobaDdK1jFDGJaY g:YV3JaWATF:DdK`X:WAYV3W
F:e3DaWiJqbGWAgd3FfF{W]V*bGeWhbGW]j-F{VY-V7gcYHIr[AFcbdK`HIF:V*bGFfpWAe3JqbGWhU.g:K+bGF>R8K}g:YV3g:[]e"JoWAYVFfT?W|baebobaY
*eFJobaYlDdK`pWAYV"K`HIF:V*baY z[iKIJoFpeFV-bGDF ;CMjF:DGY'gd3FOTK`baFNgcFDobGFOg:YV3TW]XW]Y-VWrDaF:U"JGJaK`baF_F
gcFDobGW3r3KDGKHIFcbaDGW"g:Y-JobaDGe?bobGW]jW.T?F:[A[AK'gcF[][iKZJaW"r e 'gcY-V{*e3K`[igdFvHIY?T?F:[A[AYZU"JaWAg:Yg:K[Ag:Y[iK`DGF
T?FW\r3K`DdK`HIFcbGDaWW]VbGF:HIr"Yfr.Y[AWAVYHIWiK`[AFgdFNJaW\r"Y*JaJaYVYlHIFcbabaF:DGFNWAVDGF:[iK`XW]Y-VFOg:YV[AK
DGFJGKHfK r.YWVY-V6JaWJGKW]V0-e"K`[AFlT?WADGF:X:WAYV3F'JaWTF:jFIgcFDGgK`DGFZr.F:DNHIW]p-[]WAYDdK`DGF*eFJqbGY
DGWAJae[]bGK+bGY3>
VfgcYV"gc[Ae3JoWAYV3F+FT *eFJobaYMWA[?reV*baY"`W][3rDaY-[AF:HfK_DGWigdW]FT?Fr"FD[AKMJae3KzbaDdK+bobdK`XW]Yk
VFeVIK`[ApY-DaW]baHIYzKrrDGY-JGJoWAHfK+bGY3> zeFJqbGYze"JoFDGzeV3KzteVXW]Y-VFYWAFcbabaWAjYNgdFr(e MVY-V
DGWAJar"Y-V3T?FDaFOKeV"K 3 )(+*3.  ,+*:&J/+>V?!K`bobaW*eFJobGKlJGK`DGF:.Fzr.Y`bGe?bGKlFJaJaF:DGFvtY-DaVW]bGKlJaY[AY
TK[][iKHlFg:gK`VWig:K*e3K`V*baWiJobaWig:K8W][gd3F {JobGK`baY~JGg:K`DabGK`baY">'[EHIY?T?F[][AY~K~T?W]r.Y[AW fJaY[AY
eV3K 7+,)&)(+*#*:7286'gdFNVY-V 7 3 NFJaJaF:DGFMjF:DdKHfKIJoY-[]Y'tYDGVWADaFOeV3K ( / /2/ (#,&)89.G/)*:7286
/27!.9/2.0/T?F:[JoWiJobaF:HfK3>[rDGF:X:XY{TKIr3Kp-K`DGF3FgdF Z[iK{gcY-V3gc[Ae3JaW]Y-VFMtYV"TK`HIF:V*bdK`[AF
gdFIVY-V fgdWiK`DdKW]VFcbobGF:DdK+bGeDGK3 {gdFIVY-V0j+K[]FI[iKr"FV3KT?WgcFDGgK`DG F 1 / ,)7B1  )*:7286




@

T?F[ErDGY[AF:HfKr"FDGgd3FfVYVKJaWEre baDGY+j1KDaF-> )WAJaYp-V3KK-g:g:YV*baFV-bdK`DdJoWJaY[AY~T?WEeV3K


JaY[AeX:WAYVFNKrrDGY-JGJoWAHfK+bGKFNVYV~JGK`DGF:HIYlHIKW8JaWAg:eDaWnTW 9/B89.G7 3 *:&)*389*|JaWiK`HIYfK`DGDaWAj+K+baW
TK[][ YbobGW]HIYfKJGJoY-[]ebaY3>




 29'6.  2 76/1.324,).3 . .  +Y7T2 .0.3/ /1 / .32 ,6 '6 7 


37  1 70735 124732 [ ,  2  4 ,). 12





% 



%

zpV3W3r3KDobGWAg:Y[iK`DGFvgcYH'WAV3K`XW]Y-VF_T?Wj+K`DGWAKWA[]W.gdFzT?F:baFDaHIWAV3K`VYlgcY-Hlr3[]F:bGK`HIFV-bGFveV3K
cg F[][iK7T?WNODdK`FcbGX:F[vpFVF:DdKW]V baF:HIr.Y r.Y[AW]V3YHIWAK[]F4eVY7Y rW* V*e3HlFDaWOgdF4JaYVYY
r.Y-JGJoY-VY~FJGJoFDaFfHIFJaJaWWAV7DGF:[iK`X:WAYV3F{gcYV[ F#{gcWAF:VXK4T?W|FJGJaK3> zeFJobGK4gcYH'WAV3K`XW]Yk
VF~T?Wvj+KDaWiK`WA[AW~eV3K ,)7B1  )*:7B804TF:[rDGY[AF:HfK3> BFD 8 j+K`DGWAKW][AWvgdF~T?FJag:DaWAjY-VY
[AFIg:F:[A[]F-\[ WAV3JoWAF:HIFfT?WbGe?bobGFf[]FfJaY[AeX:WAYVFlr.Y-JGJoWAWA[]WgcY*JqbGWhbGeWiJag:Fl[AY ,;/9/)*:7 2)131* ,)721  
)*:7B8 *ZT?F:[rDGY[AF:HfK6T?WT?W]HIFV3JoWAYV3F 8 s!Jar3K`XW]Y 83kT?WAHIF:V3JaW]Y-V3K`[AFucEgcY*J 9zgcY-HlF bae?babaF
[AFgcY-HWAV3KX:WAYVWr"Y*JaJaWAW][AWT?WK`[]baF:XXK3[]eV3pFX:XK}F[iK`DGpFX:XKpF:V3F:DdK`VY}[AY6Jar3KX:WAY
baDGWiT?W]HIFV3JoWAYV"K`[AFZe3Jae3K`[AF>OBF:DODaWiJoY-[]j-F:DGFNW][rDGY[AF:HfK{TF:[A[ Y`babaWAHlWAX:XK`XW]Y-VF'T?F[][AF'g:F:[A[]F
T?W\ODGKFcbGX:F:[.WiJoY-pVFDaF.F_JqbGe3T?WiK`DGFvbGe?bobGFz[AFOJaY[AeXW]Y-VW3r.Y-JGJoWAWA[]WYp-V*e3V3KZT?F[][AFz*e3K[]W
DGWAgdWAFTFeV4baF:HIr.Yr.Y[AWAVYHIWiK`[AFHfK TK`bGK{[iK g:YV*baWAVeW]bG TF:Wj+K`[AYDGWVeHIF:DGWigcWT?F:[A[]F
j+K`DGWAKWA[]W*eFJobaY'VY V zr.Y-JGJoWAWA[]F-FJGJoFV3T?YWA[\VeHIF:DGY'T?W\JaY[AeX:WAYV3W"WAV?U3VW]baY"> )WAJaYp-V3K
K1jFDaFeVfHIFcbGY?T?YgdFDGW]FJagKMKO!K`DGFeV3KNDGWAg:F:Ddg:K *389.)1314*7)89.zT?F:[A[]Y'Jor3KX:WAYNT?F:[A[]FzJoY-[]e?k
X:WAYV3WFvgdFvr.Y-JGJaKOWAV3T?WAjWAT?e"K`DGFY`bobGW]HIW.JoY?TT?WiJo!KgcFV*baW)F ".F:bobae"K`V3T?YeVn K`V3K[]WiJoW?r"K`DGX:WiK`[AF
T?Wn*eFJqbGYlJar3K`XW]Y">3YDabaeV"K+bGKHIF:V*baFOFJaWAJobaY-VYIK`[ApYDGW]baHIW.TWn-e3FJobaY'baWAr"Y"?bae?babaW\HIY[]baY
DGFgcFV*baWEFgd3Fj-F:Vp-YVY6e3JaK`baWWAV rDGY3[]FHlWT?WWAV*baF:[A[AW]p-F:VXK6KDobGWhU"g:WAK[]F-baDdK4W*e3K[]W
JaW.r.Y-JGJaYVYlgcW]bGK`DGDF ;JaW]H'e[AK`baFT K`V3VFK[]WAVps MWAD @r3K`baDGWAJg @3@3@ A@ uc?3KJg @rDGYr"K`p-K`baWAYV
WAV DGFcbaWV3F:eDGYV3K[]WMs!veHIF:[A3K`Dab vWAV-bGYVn  W][A[]WiK`HfJ_@w ]&@ uc|K`[ApY-DaW]baHIWpFVFcbGWAg:W
rDGYp-DGKHlHfKX:WAYVFvp-F:VF:baWig:K3>
vV3K}r3K`DabaF{T?W*eFJobaW|HlF:baY?T?WJoY-VY~3KJGK+bGWJae7gcYV"gcFcbabaW|F:jY-[]e3X:WAYVWiJqbGWAg:WErDGFJaWEWAV
rDGFJobaW]baYTK`[A[iK63W]Y-[]Y-pWiK}F~gdFbaFV-bdK`VYT?WWAHIWhbdK`DGFW][HIFgg:KVWAJaHIY0TF:[A[AKJaF:[AF:X:WAYV3F
V3K`baeDdK`[AF>mR WiT?FK T?WOtYV"T?Y g:YV3JaWAJobaF4VF:[MgcY-V3JoWiT?FDGKDaF~[AF0JaY[AeXW]Y-VWzT?F[zr3DaY-[]FHfK
gcY-HIF *380B* 3 *   *gdFNjW]j-YVYlWAVe3Vg:F:Daba'Y / ( #)* #8 .! 8/2.; ( /21*NFNgdFZTF:jY-VYlF:jY-[]j-F:DGF
jFDGJaY[iKIJoY-[]e3X:WAYVFMY`babaWAHfKlTF:[nrDGY3[]FHIK3>VeV~g:F:DabaYlHlY-HIF:V*baYIFJaWiJqbGYVYleV~gcFDobGY
VeHIF:DGY7T?W_WAV3T?WAjWATeW_4Y /97 /97B1H/ )*:7B86W]V *eFJqbGY7K`H3W]FV-bGFK`[igce3VWzT?FWz*e3K[]W_JaYV3Y
rW 0K-TK+babaWET?WEK[hbGDaWK 3 * 3 )({WAV0FJGJoY">Z[pDdKT?YT?WEKT3K+bobdK`HIF:V*bGYT?We3V6WAV3T?WAjWAT?e3Y 
HIWAJaeDdK+bGY'TK[][iKZte3VX:WAYVFMY-W]F:bobGW]j-Y'g:K[Ag:Y[iK`WA[AF_WAV bGF:HIr"YIr.Y[AW]V3YHIWAK[]6F ;r*W K`[]baY MW][
reV*bGF:pp-W]YIs  p-DGK-T?YMT?W#F {g:W]FVXK*u8YbobGF:Ve?baYNFrW IrDGY3KW][AW]bGMK1jDGOT?WJaYrDdK1jj*WAjFDaF->
|YHIF_V3F:[A[]FOr"Y-r"Y-[AKX:WAYVW"WAY[AYpWigdF--[ FjY-[]eXW]Y-VF_T?WeV"KJar"FgcWAFzK1jjW]FVFzJaY[AYZWAV
gcY-V3T?WAX:WAYVWT?WJGg:KDGJaWhbdsT?Wg:W].Y K-TFJoFHIrW]Yu >V}gcY-V3T?WAX:WAYVW8TW8K`.YV"TK`VXKfK`V3gd3F
p[AWWAV3T?WAjWAT?e3W"r.Y?gcYK-TK+babaWYZHfK[AK`baW3r.Y-JGJaYVYNJaYrDdK1jj*WAjFDaF->\BF:D|K1j-F:DGFeV3KNFjY[AeXW]Yk
VFZ3WAJaYp-V3KlW]V3JobGKeDdK`DGFOe3V3'K /( +,J,+*:7B80 B* , )1*#*:7286lJae[][iKfr.Yr.Y[iK`XW]Y-VFZgdF ZHIFJGJGK
WAV rDdK+bGWAgKZpFVF:DdK`V"T?YgcY-V*baWAV*e"K`HIF:V*baFzVeY+jW3WAV3T?WAj*WiT?eWEs  JoY-[]e3X:WAYVW uFOHfK`V*baFVF:V3TY
gcY*JqbdK`V*baFI[iK}T?WAHIF:V3JaW]Y-VF{T?F[][iK~r.Yr.Y[iK`X:WAYV3F> V7*eFJqbGY~HIYTY3JoF{WAV7*e3K`[igdFfHIY`k
HIF:V*baYZTF:[3r3DaY?gcFJaJaYNT?W"gK`[igcY-[]Y baDGY+j+K+bdKze3V3KZJaY[AeX:WAYVFHIWAp[AW]Y-DaFvT?W.*eF:[A[AKMr.F:p-pWAYDGF
rDGFJaF:V*baFVF:[A[AK r"Y-r"Y-[AKX:WAYVF-.*eFJqb e3[hbGW]HfKj*WAF:V3FF:[AWAHlWAV3K`bGK{FIJaY-JobaW]baeW]bGKTK *eFJqbGY
VeY+jYWAV3T?WAjWATeY3+rDGY+jY?gK`V3T?Yv*eF[][AY_gdFJaKDaF.F[iKvHIYDabaFEYz[AK_FJobaWAVX:WAYV3F|T?W?*eF:[A[AY
HIF:VYfK-TK+babaY3>


@

R8KlpFVF:DdK`XW]Y-VFMgcYV*bGW]Ve3KIT?WnVeY+jWWAV3T?WAj*WiT?eW8VYV~K1jjW]FVFzWAVHfK`VWAF:DdKlW]V3TWAJGgcDGWhk
HIW]V"K+bGK3EHfK}tY?gK`[AW]XXK`V"T?Y}[iK4DGWAg:F:Ddg:K4VF:[A[]Fr3KDobGWTF:[A[]Y0Jor3KX:WAY6T?F[][AFJoY-[]eXW]Y-VWrW
rDGYHIFcbabaFV-bGW8HIKV*baF:V3F:V3T?Y[AFIgK`DdK+babaF:DGWiJqbGWAgdF'eY-VFIrDaFJoFV*baWVF:[A[iKr.Yr.Y[iK`XW]Y-VF'K
eVlgcF:DabaYzHIYHIF:V*baY"> zeFJqbGYzJaW*!K_DGFK[]WAX:XK`V3T?Y_eVYMJagK`H3W]Y_TW?W]V?tY-DaHfKX:WAYVFbGDGK_F:[AFck
HIF:V*baW?r3DaFJoWKOg:K-JoYOVF:[A[iKzr.Yr.Y[iK`XW]Y-VF+FgdFr e OFJaJaF:DGFgcYV"JoWiT?F:DdK+bGY_eVIF-e3W]j+K`[AF:V*bGF
T?F[][iKlDaWArDGYTeX:WAYVFNJaFJGJoe"K`[AFzVFp[AWnYDGp-KVWiJoHIWWAY[AYpWigcW> zeFJobaYIp-F:VFDGK'VeY+jW\W]V3TWhk
jWATeW?Y 8D14* >EFv*e3K`[igceV3YOT?W"-e3FJobaW?pFVF:DdKzeV3KNJaY[AeX:WAYVFHIW]p-[]WAYDGFr"FDEW][?r3DaY-[]FHfK
NWAV3gcY-Dar.YDdK+bGY'VF[][iKIr.Yr.Y[iK`X:WAYV3FOFNjWAF:VFNr3DaY+j-YgK+bdK[iKlFJobaWAVX:WAYVFZTW8eVWAV3T?WAj*WiT?eY
HIF:VY6KTK`bobaY">RK~DGW]r.FcbGW]XW]Y-VF T?W-e3FJobaY}rDGWAV3gcWArWAY4Joee3VV*e3HlFDaY}TW "#80#( /)*:7B8 *
F:[AF:j+K`baY3"rDGY+jY?g:K'eV4KeHIF:V*baY{T?F[r3eV*baF:p-pWAYfgcYHIr[AFJGJaW]j-Y{T?F:[A[AK{r"Y-r"Y-[AKX:WAYVFNFZe3V
K1jjWAg:W]V3KHIF:V*baYK`[A[ Y`babaWAHIY}T?F:[Er3DaY-[]FHfK> zjjWAKHIF:V*baF-8gcY-HlF{Jae3ggcFTF{K`V3gdFIr.F:D
p[AWYDGp-K`V3WAJaHIW8WAY[AYp-WAg:WVY-V6JaWr e g:YVY*Jag:F:DGFZW][p-DGK-T?Y T?WKT3K+bobdK`HIF:V*bGYT?F[][iK{r.Y`k
r.Y[iK`X:WAYV3F U3V"K`[AF}K`[A[ K`H'W]FV*baF~gcWADGg:Y-JobGKV-bGF> z ~r.F:D eV j1KV*bGK`p-pWAY3|FT }gdF~JoW
Y`babaWAF:VFlgcY-HlFDaWiJoe3[hbdK+baY eV4VeHIF:DGY T?WJaY[AeX:WAYVWr3K`DGWK[VeHIFDaY TWF[]FHlFV*baWT?F:[A[AK
r.Yr.Y[iK`X:WAYV3FlWAVWAX:WiK`[AFfFfVYV0eV3Ke3VWAgK~JoY-[]e3X:WAYV6F =[AF{JoY-[]e3X:WAYVWEJaYVYbGe?bobGF T?WAjF:DdJaF
baDdK'[]Y-DaY"-r.F:Dvg:eW\JoW\r.Y-JGJoY-VY'JaF:[AF:XW]Y-V3K`DGFzJaY[AeXW]Y-VWW]VrDGW]V3g:W]r3W]YlVYVY`babaWAHlFMWAV"KJaF
KlgcYV"JoWiT?F:DdK`XW]Y-VWKTT?WAX:WAYV"K`[AWKI*eF[][AFMW]VFDaFV*baW\WA[\rDaY-rDGW]Y'rDaY-[AF:HfKsKTFJaF:HIrWAYIW][
gcY*JqbGY*uc>
zeFJobaYbGW]r.Y T?WMK`[ApY-DaW]baHIYVFgcFJGJaWhbdKT?Wzg:YV3JaWATF:DdK`X:WAYV3WHlY-[hbGY7KggceDdK+bGF}Joe[A[iK
gcY?T?W]U"gK>V)F ".F:bobGWnp[AWW]V3TW]jWiT?eW8T?F[][iK'r"Y-r"Y-[AKX:WAYVFO3K`V3VYIeVTer[AWAg:FMK-Jor.FcbabaY ;g 
WA[ 7)872.>* /97NYNy +_^ T?F:[A[ WAV3T?WAj*WiT?eY"r3KDobGW3T?F[3*e3K`[AFjFVpY-VYOJGg:KHWiK+bGFgcYVIp-[]W3K[hbGDaW
WAV3T?WAj*WiT?eWnFIWA[ 5&#8 7B.<* /!7Y .<( /2. #*:7286fTF:[pFVY`bGW]r.YgcYHIFfJaY[AeX:WAYVFlT?F:[r3DaY-[]FHfK
gdF~JaWj*e3Y[AFDGWiJoY-[]j-F:DGF> F}JaWvJGg:K`H'WiK`VY6r3K`DabaWvT?FWvpFVY`bGW]r3WTW_T?eFWAV3T?WAj*WiT?eWzJoW
pFVF:DdK{e3V0VeY+j-Y p-F:VYbaWAr"YgdFfgcY-DaDGWAJar.YV3T?FDGK e3V3KV*e3Y+j1KJaY[AeX:WAYVFlYtF:VYbaWAr"Y
T?F[r3DaY-[]FHfK> RK6g:YTWhU"gK6TWeV TK`baY6tF:VYbaWAr"Yp-F:VFDGK4eV3K0JqbGDaWAVp-K0T?WJaW]H'"Y-[]W
gdWiK`HfK+bd$K &#( 7 ( 7 ,)7 ( /zF|gdFEe3V3KjY-[hbdKT?Fg:Y?T?WhU.g:K+bdKr.F:DGHlF:bobGF|T?Wg:K[Ag:Y[iK`DGFWAVNbGF:HIr"Y
r.Y[AW]VY-HIWAK[]FMeV3KIJobaWAHfKlTF:[A[AKl.YV*bGIT?F[][iKIJoY-[]eXW]Y-VF>EO[AWnJqbGe3T?W8g:YV3TY`bobGWnJoe~*eFJqbGY
baWAr.YT?W3K[]p-YDGWhbGHlW3W]V3TWAgK`VYNgdF_JaYV3YOr3DaF:tF:DGW]WA[AWr"FD[iKNgcY?T?W]U"g:KM[ e?baWA[]WAX:XYZT?W"K[h!K"F:baW
Kz3KJGJaKzg:KDGT?WAV3K[]W]bGOgcY-HlF[iK_3K-JoF=?r"FDg:eW?WgcDGYHIY*JoY-HlWJGK`DdK`VVYOgcY-Hlr.Y-JobaW?TKzeV3K
JaF*eF:V3XKZT?WXF:DGYZF_eV3YlgdFzYrr.YDabae3V3K`HIF:V*bGF_T?Fg:Y?T?WhU.g:K+bGW\TK`DdK`VV3YN[AK'JoF-e3F:VXKT?W
j+K`[AYDGWV*e3HlFDaWigcW\r.F:Dvbae?babaFN[AFNj1KDaWiK`3W][AWngdFMW]V*bGF:DGjF:V3pYV3YVF[][ )F {gcWAF:VXKlTF:[A[AKfg:F:[A[AK3>


) 70   9.37 #! 2 "   !!. 2


JGJoFV3T?YM*eFJobaYMeVlrDGW]HIYMJqbdK+baYNT?WK1j+KVXKHlFV*baYzJaW  gcDGFT?e?bGYMVFg:FJGJaKDaWAY_WAV3*e3KTDGK`k
DGF|gcY-VjF:V3W]FV-bGF:HIF:V*bGFEW][rDGY3[]FHIK_W]V'HIYTYOTK_r"YbaFDp-W]e"JqbGWhU"gK`DGFE[AFJGgcF[hbGFF#" Fcbabae3K`baF
Jae3g:g:FJGJoWAj+K`HIF:V*baF->
[n[iK1jYDGYDGFK[]WAX:XK+bGYlTK[\reV*baYfT?W8j*WiJobGKIgcY-Hlr3e?bGKX:WAYV3K[]F N JqbdK+bGYITer[AWAg:FD;
@->?err.YDabaY6K[][AY4JajW][Aerr.Y}bGF:YDGWigcY}K`V"K`[AWhbGWAg:Y9;  JobGK`baY}WAHIr[]FHIF:V*bGK`baY4e3V K`[ApYk
 

%& 2 [2

%



DGW]baHIY7r.F:D WA[zgK`[igcY-[]YT?F[zg:KHIr"YF[]F:bobaDGWigcY7DGWAJae[]bGKV-bGF}TK0baebobaWOWzTW]r.Y[AWzgdF
g:YVr.YV3pYV3YeVV3KVYp-DGKVe[]Y{baWArWAg:Y3>{Y-VY~JqbdK+baFIDGFK[]WAX:XK+baFIK`[igce3VFfJoWAHe[iK+k
XW]Y-VWEWAVHIYTY}T?Wr3KDGKpY-V3K`DGFDGWAJae[]bGK`baW!K`bobaWgcY-V0*eFJqbGY}K`[ApYDGW]baHIYF{-e3F:[A[]W
YbobGF:Ve?baWTK[re3V-bGY T?WjWAJobGK{JobaDGFcbabGKHlFV*baFNbGF:YDGWigcY3> V-bGDGKH.F[AFJobaDdKT?FNtY-Dok
V3WAJGgcY-VY{DGWAJae[]bGK+bGWg:YVjFDap-F:V*baW\FTW]HIY-JobaDdK`V3Yf[AKfFJoWiJobaF:V3XK{T?WeV}K-g:gce3He[AY T?W


=`

FVF:DGpWiKMJoe3[][iKMJoer.F:DaU"g:W]FvT?F[V3KVYp-DGKV*e3[]YOT?W3JaF:HIWAg:YV3Te?bobGYDGF> IBF:DE[iKMgcY*JqbGDae?k
XW]Y-VFTF:[A[ K`[ApY-DaW]baHIY}T?Wg:K[Ag:Y[A'Y JobGK`baY}V3FgcFJaJGK`DGWAY~W]HIr[AF:HIF:V*bdK`DGF [ K[]p-F:DdK
g:YHIr[AFJGJaK}VFg:FJGJaKDaWiKr"FD'[iK~HfK`VWAr.Y[iK`X:WAYV3F T?F:WjF:bobGYDGW|gdF TFcU3VWiJGgcYV3Y}[]F
*e3KV*baW]bG'U"JaWAgdFNg:YWAV*j-Y[]baFMVF[][AYfJqbGe3T?WAYITF:W8gK`HIrW\F:[AFcbabaDGYHfK`p-VFcbGWAg:W>
=>^_V3K`[AWiJoWT?F[rDaY-[AF:HfK4TK[reV*baYT?WjWAJobGK0gcY-HIre?bGKX:WAYV3K[]6F ;fW][[iK1jY-DaY6Joj-Y[]k
bGY~3Kr"Y-DobdK+bGYK[][iKW]V3TW]jWiT?e3K`XW]Y-VFfT?WeVK`[ApY-DaW]baHIYT?WbaWAr.Y~F:jY-[]e3X:WAYVWiJqbGWAg:Y
g:YHIF4JobaDdKTKr.F:D[]Y JqbGe3T?WAYbaFYDGWAg:Y7T?F:[A[]F0gcF[][AF> JqbdK+bGY7W]V3W]XWAK`baY7WA[_[iK1jYk
DGY T?WrDGYpDdK`HIHfK`XW]Y-VFMVFg:FJGJaKDaWAYIr"FDz[ W]HIr[AF:HIF:V*bdK`X:WAYV3FT?W*eFJqbGYfbaWAr.YT?W
KrrDGY?g:gcWAY3>
vVlrDGY[AF:HfK_W]HIr.YDabGK`V*bGFKV3gcY-DGKzTK_DGWiJoY-[]j-F:DGF -e3F:[A[]YMT?W?Y`babaFVF:DGF|e3VHIFcbGYTYMK-T?Fck
pe"K+baY'r"FD[AKlT?FJag:DaWAX:WAYVFOT?F:[ngK`HIr.Ylg:YHIr[AFJGJoWAjYZr3DaY?T?YbobaYITK'rW T?W\e3VV3KVYp-DGK`k
Ve[AY3>M[g:K`HIr.Y rDGY?T?Y`babaYTK Y-pVWV3KVYF:[AF:HIF:V*baYJqbGDaebobae3DGK[]FlT?F:[JaF:HIWAg:YV3Te?bobGYDGF
WAV?3eWiJag:FZJoe3p[AW8K`[]baDGWnFZWiJaYpV"KbGF:VFD_gcY-V*baYfT?W*eFJqbdKIW]V*bGF:DdK`X:WAYV3F> zeFJqbGYfKJar"F:bobaY
tYDGHfKg:YHe3V3*eF_r3KDobGFzJaF:HIrDGFOTF:[\g:K[Ag:Y[AYT?F:[A[iKZteV3X:WAYVFOYWAFcbabaWAjY'FIT OWAV jWAKlT?W
T?WiJag:e3JGJoWAYVF->WK1j*DdleV3KIDGWAJar.Y-JobGKfJae[nHIY?T?Y T?Wnr3DaY?gcFT?F:DGFNrDGY3KWA[]HIF:V*bGFOFV*baDGYfW][
rDGY-JGJoWAHIY'HIFJoFNT?Wnp-F:VV"K`WAY3>
BF:Dv*e3K`V*bGY'DGW]p-e3K`DdTK[ K`[ApY-DaW]baHIYFjY-[]eXW]Y-VWiJqbGWAg:Ylg MeV3KlgcY*JaK'WAHlr.YDabGKV*baFNK`V?k
gcY-DGKTKT?WADaF->lyOK+bdK[ W]V3TF:r.F:V3T?FVXK~gd3F'3KTK[Eg:K[Ag:Y[AYT?F[][iKteVXW]Y-VFIYWAFcbabaWAjY3
r(e _FJGJoFDaFEKHlr3[]WiK+bGYvJoe3ggcFJaJaW]j+KHlFV*baFEr.F:D8baF:V3F:Dg:YV*baYvTW-VeY+jWK-Jor.FcbabaWgdFr"Y*JaJaYV3Y
WAV?3eWADaFJae[][iKz#F {gcWAF:VXK_T?F[][iKOgcF:[A[iK>?FV3F:[?gcY-DGJaYzT?F[][iKvDGWigcF:Ddg:KzJoW*bGDaY+j-F:DdvKTFJaF:HIrWAY
gdF[ F[]F:bobaDGY[AW]bGKOpWAY?g:KzeVIDaeY-[]YOrW IW]HIr.YDabGK`V*bGFTW3*e3K`V*baYMJaWr"FV3JGK1j1KzWAVW]XWAK[]HIFV-bGF
3K-JqbGF:DdfJoY-[]Y KpWADaFZJae[A[AK gcY?T?W]U"g:%K ?+T?FgcY?T?W]U"g:KfT?F[][AF'JaY[AeXW]Y-VW8r.F:DzW]Vp-[]Y-3K`DGFNWV*e3Y+j*W
KJar.FcbobGW>


 
  

=?@

 


        




 

 %& 2 [2 '6. 73  2  2 .02

   

|YHIFEr3DGK`baWig:KT?W*[AK"Y-DGK`baY-DaWAYKWiK`HIYvDGW]j-Y[]baY[iKVY*JqbGDGKK`bobaFVX:WAYV3FJoe3[][AFEHIFcbGYTWAgdF
T?WDGFK[]WAX:XK`X:WAYV3F'T?F[][AFfgcF:[A[AF>BKDobGF:V3T?Y~TKeV0rWig:gcY-[]YrDGY`bGY`baWAr.YTWEgcF:[A[iK FIrDGY?gcFck
T?FV3T?YK`[JoeYKJGJaF:H3[AKppWAY{K`3WAKHIY{tY?g:K[]WAX:XK+baYK`[igceV3WTF:WrW 4pDdK1jY*JoW8r3KJGJaKpp-W
gdFNT?F:baF:DGHIW]V"K`VYI[iK'3eYV3KlDGW]e"Jag:WhbdKlTWneV3KIgcF[][iK'teVXW]Y-V3K`V*baF->
R8KJqbGDae?babaeDdK Krr3KDaFV-bGF:HIF:V*bGFJoFHIr[]WigcF'DaWAjF[AK{W]VjFgcFZe3V3K g:YHIr[AFJGJoW]bG{TWJajWhk
[Aerr.YfW]V*baDGWAV3JoFg:KlK`[A[AKIT?Fr"Y*JoWAX:WAYV3FMTF:W\U3[AH V3K`VY?g:DaWiJqbdK`[A[]WAVW>BY-VF:V"T?Y?gcW3K`[A[AK'rDGY+j+K
T?FW!K`bobGW8TWtDGYV*bGFlKT?HW fg:Y[]bG{baFg:VWigdFfgdF'KWiK`HIYYT?Y+jDaFHIY DGWAJaY[AjFDaFZYgcY-V
T?F[][AFNJoY-[]eXW]Y-VFNg:KVYVWigdFOY{gcY-VT?FWnJoWiJobaF:HIW8K[hbGF:DGV3K+bGW]jWnT?W8VY-JobaDdKWiT?FK`X:WAYV3F>
[rDGW]HIYMr3K-JaJaYOTW3*eFJobGKOjWAKOWAV*baF:DGFJGJGK_[AYZJqbGDGK`baYMgcY-V3T?e?babaWAjYMr"Y*JqbGYNJoe["Joer3r"Y-DobGY
baDdKJar3KDaFV-bGDF =?FJoWiJqbGYVYfHIY?T?WT?W]j-F:DdJoW\r.F:DOK`DGDaWAj+K`DGFOK -e3FJobaY{JGgcYr.Y33W][r*W ~e"JaK`baYfe?bGWhk
[AW]XXKOeVIHfK+baFDaWiK`[AFgcY-HeVFHIF:V*baFgdWiK`HfK+bGYMW]VfJaW]p-[AKO '`K`3DaFjWAKX:WAYVFr"FDEY-JGJaWAT?W
T?W?V3TW]YOFv*bGKpVYOY+jjF:DGYv[ V"T?W]YNT?DGYp*K+bGYzgcY-V[AYZ*bGKpVYOW]VlDdK`rr.YDabaYOT?W% ?@vVF:[A[AK
gcY-V3JaeFcbGe3T?WAVFNT?F:[A[]FZKX:WAF:V3TFMgd3FO[AYIrDGYTe3gcY-VYIr"FDvJoWiJqbGF:HIW8Jar"F:bobGDaYtY`baY-HIFcbaDGWigcW
zeFJobaY HfK+baFDaWiK`[AF6g:Y-JobaW]baeWiJGgcF0[AK 3KJaF6T?WMbGe?bobGWNp[AWzF[]F:bobGDaY?T?WObaDdKJar3KDaFV-bGW_r.F:D
K`r3r[]Wig:KX:WAYVWNT?Y+j-F6WA[Nr3K-JaJGK`p-pWAY T?F[][iK []e3g:F TWNtYV3T3K`HIF:V*bGK[]F0WAHlr.YDabGKVXK FK
gcY-V3T?eXW]Y-VFMF:[AFcbabaDGWAgKlJaer.F:DaU"gcWiK`[AFOHlWAp[AWAYDGFOr.Y-JGJaW]WA[AF>
R8Kg:K`DdK+babaFDaWiJqbGWAgKIrDGW]V3g:W]r"K`[AFT?WbGK[]FlJoY*JqbdK`VXK 'T?WrDGFJaF:V*bGKDaFNr"K`DabaWigcY[iK`DGWnDGFJaWhk
JobaWAj*W]bGr.F:DOU3[AH JoYbobGW][A>W =K`eHIF:V*bdK`V3T?Y[]YJar"FJaJaYDGF\JaWTW]HIWAV*e3WAJGgcFI[iKJae3K{DGFJaWiJqbGF:VXK
Jaer"FDoU.gcWiK`[AF*eWAV3T?W3JaW?HIW]p-[]WAYDdKOK`V3gdF[iKMgcYV"T?e3gcWAWA[]W]bGMp-[]Y-3K`[AF+r3eDobGDaY-rr.YMKMJGg:KrWhk
baY'T?F:[A[AKNbaDdKJar3K`DGF:VXK> ze3FJobaYN!K`bobaYVF_[AW]HIW]bGKN[iKZT?Fr"Y*JoWAX:WAYV3FvW]VIU"[]H DGF:[iK+baWAj+K`HIF:V*bGF
Jar"FJaJaW>^v[]baDdKNg:KDGK`bobGF:DGWAJobaWig:KOJaK[]WAF:V*bGFg:YV3JaWiJqbGFVF:[HfKV-bGF:VFDaFvg:Y-JobGKV-bGFW][r.Y`bGF:VXWAK[]F
Jae bGe?bobGW8Wnre3V-bGW8T?F[][iKIJoe3KIJaer.F:DaU"gcWAF>
BY-JGJoWAWA[]W-HlWAp[AWAYDdK`HIF:V*baW-JoW*JoY-VYY`babaF:Ve?bGW-JaYHIHfK`V3TYvK`[]baDGW`baWArW*T?W-Y*JaJaWiT?W`HIFcbdK`[A[]WigcW
baWAr.YfW][K-T?HIW]YIYf[AY W]V3g:YIW]Vj+K`DGW]FOrDGYr.YDGX:WAYVW>
R8KNj-F:DdKNT?HW fg:Y[]bGNT?W.rDGF:r3KDGKX:WAYVFWAVf[AK"Y-DGK`baY-DaWAYOg:YV3JaWiJqbGFvVF:[A[ YbobaFVF:DGF_*eFJqbGY
HfK+bGF:DGWAK[]F->MR8FlKX:WAF:V3TF'gdFlrDGYTe3gcY-VY*eFJqbGWU"[]H Jae6Jaerr.YDabaWT?WjF:baDGY Y bGK`[AjY-[hk
bGKKV3gdF~T?Wvr.Y[AWAHlFDaW_r[AK-JqbGWAg:W_JaW_K1jj1K[]p-YVY0T?W_K[Ag:eVFbaFgcVWigdF}T?W_F:j+K`r.YDdK`XW]Y-VF
JaY`bobGYj*e3Y`baY}gd3FfW]HIrWAF:p*K`VY~T?F[][AF{K+babaDGF:X:XK+bGeDaFfg:Y-JobaY-JaFIYrr3eDaFfT?WJoWiJobaF:HIWTWJoWAV?k


==

baFDaWAX:XK`XW]Y-VFK+babaDdK1jFDGJaYfpDdK`V3TW8rDGFJGJoWAYV3W8rDGY?T?Y`babaFITK{rDGFJGJaFY DGe[A[]WgcY-HIrDaFJaJaYDGW>
V [iK`.YDdK+baY-DaWAYJoWOr.Y-JGJoY-VYY`babaF:V3F:DGF4T?F:WODGWAJae[]bGK+bGW_WAHIrW]Fp-KV3T?Y7[iK7JaW]V*baFDaWAX:XK`XW]Y-VF
baFDaHIWig:KIKTK`[]baFObGF:HIr"FDGK`baeDGFMe3JGK`V3T?YfT?FW\tYDGVW\WAVpDdKT?YIT?WnDdK`p-pWAeVpFDa[AF>
vV4JaWiJqbGF:HfKfDGFgcFV*baFNrDGF:j-FT?FZe3V3K{T?Fr"Y*JoWAX:WAYVFZK`bobGDGK1j-F:DdJoYIeV3K{DaFK`X:WAYV3FZJoY-[hk pF[
gdFltYDGHfKT?W]DGFcbabGKHlFV*baFIW][|gcYHIr.Y-JobaY~Jae[EJoe33JqbGDGK`baY =8VF[EVY-JobaDGY~g:K-JoYtYDdJoFIVY-V 
r.F:DdgcYDGDGW]WA[AF*eFJobGKJqbGDGK-TKfWAV0*e3KV*baY [ e[hbGF:DGW]Y-DaFlT?F:r.Y-JaWAX:WAYVFlT?F:[JaF:HIWAg:YV3Te?bobGYDGF
FM[AKfJae3ggcFJGJaW]j+KlJoWAV*baF:DGWAX:XKX:WAYVFMKIg:K[AT?YIr.Y`bGDaF"FNK[hbGF:DdK`DGFz[iKIJqbGDae?babaeDdK>
JaWAJobaY-VYNW]Vfg:YHIHIF:DdgcWAYMKV3gdFr3K-JqbGFvgcYV"T?e?bobGDaWigcWbaDdKJar3K`DGF:V*baWrDGY?T?Y`babaFr.F:DK[hbGDaW
JGgcYr3WnHfKI[AKI[AYDGYIDaFJoWiJqbGF:VXK ZK`[i-e"K`V*baYfK`[]bGK33FZ*eWAV3T?WVYV!Kg:W][AHIF:V*baFNWAHIrWAF:p-KWA[]W
r.F:Dp[AW8JGgcY-rWrDaF:U"JGJoWnTK[nrDGYp-FcbobGY3>
er.F:DdK`V3TY'[ Y*JqbdKg:Y[AY'T?F[][iKr3DaY?T?eXW]Y-VFMT?WbGK[]FNJaY-JobGK`V3XKZWAV [iK`.YDdK+bGYDGW]Y'JoW\r3K-Jqk
JGK4K`[A[iK4T?Fr"Y*JoWAX:WAYVFJoe Joe3rr"Y-DobGWT?WjFcbGDaY4"Y-DaY*JoWA[]Wig:K`baY"W]V -e"K`V*baY6r*W DaFJoWiJobaF:V*bGF
K`p-[]WvJobaDGFJGJ'baFDaHIWigcWT?Y+je?bGWvr.F:D{K`[]baDGYK`[A[AK0JaF:pe3F:V*baF~JobaDdK+baW]U"gK`X:WAYV3FT?F[_JaF:HIWAg:YV?k
T?e?babaY-DaFK+babaWAjY3|W][3W]Y*JaJaWATY0T?WbGWhbdK`VWAY3> HIF:baY?T?Wvg:KVYV3WAg:WWAV3T?Wig:K`baWvTK[][ WAT?FK+bGYDGF
T?F[][AFZgcF[][AFZrDGF:j-FT?Y-VY'[ e3JoY{TWnbaFgcVWigdFJaF:DGWApDdK+U"gdF_baWArWigdFT?F[][iKfJqbdK`HIr3K3VYWK`?k
WiK`HIY}KTY`bobdK+bGY~eV3K}JaY[AeX:WAYV3F{T?Wg:YHIrDGYHIFJGJaYFgcWAY  eV3KbGFgcV3WAgK}K`FDaY-pDdK+U"g!K =
bGK[]F_HlF:baY?T?YJa9W zDaWAjF[AK`baYZK3KJobGKVXKOrDGYHIF:bobaFV*baF*FzJaW"JaYV3YNY`bobGF:Ve?bGFzT?Fr"Y*JoWAX:WAYVW
Jae {gcWAF:V*baFHlFV*baFMYHIYp-F:VFFzr.F:DvbaDdKJar3K`DGF:VXKK-T Y?g:gd3W]YIVe3T?Y">
vV~!K`bobGYDGFNW]HIr.YDabGK`V*bGFgdFZT?F:baF:DGHIW]V"Kf[AKIDGFJGKIVF[][iK{T?WiJqbGDaWAeXW]Y-VFZT?Fp[AW8Y-JGJaWAT?W
Jae[EJoe33JqbGDGK`baYJoY-VYWEJoY-[]j-F:V*baWg:YV0W*e3K`[AWEJoWr.YDabGKVYW]VJaY-Jar"FV3JoWAYV3F'Wj+K`DGWY-JGJaWAT?W
FTWA[nHIY?T?Y{T?Wn)F ".F:bobae"K`DGFN[AKlrDGF:r3KDGK`baWAj+K'K[][iKlHlWiJGgcF:[iKIFZK`[nJae3JobaDdK+bGY3JaWnWAHlr3W]Fp-K`V3Y
gcY-VJae3ggcFJGJaYlKV3gdFMp[AW\e[]baDdKJaeYVW\r.F:DDdK`p-pWAeVp-F:DGFzK`V"gdFMeVYfJqbdK+bGYIg:Y[A[]Y-WAT3K`[AF>
+vF[?rDaY*JaJaWAHlYvte?baeDGYMJoWr.F:V3JGKzTW*WAHIrWAF:p-KDaFJoWiJobaF:HIW?T?WF:[AFcbabaDGY?T?F:r.Y-JaW]XW]Y-VFWAYV3WAgK
WAV'*e3K`V*bGYvr"YbaDGF:.F:DGY_FJaJaF:DGFebaWA[]W?K_TF:r.Y-JaWhbdK`DGFEU3[AHK`V3g:YDdKrW 'JaY`babaWA[]W> K`[AWHlF:baY?T?W
rDGFJaF:V*bGKVYlW]VY-[hbGDaFMeV3K-JaJaYIgcY-JobaY">
BF:DN[AF{JqbGFJGJoFlDGKpWAYVWKVVY+jFDGK`baFlJoY-rDGKFT0K`V"gdFnr.F:DNY-DGK3ngcY-V6[AF{JqbGFJGJoF'baFg k
VY-[]Y-pWAF r3K-JaJaF:DGF:HIY4K-T BK "DGYV*bGKDaF{e3VY0TF:WrDGY[AF:HIWVF:jDdK`[ApWigcW|Fg:W]%Y [AK0JqbGFJaeDdK
T?F[.JaF:HIWigcYV"T?e?bobGYDGF_V3KVY?gcDGWAJobGK[][AWAVYZWA*[ )WAY-JGJoWiT?YTW W]bGKVWAY3> K[]F_U3[]H TW.HfK`baF:DGWiK`[AF
gcY-HIr"Y-DobGF:DdzWA[3r3DaY-3K`WA[AFe?baWA[]WAX:XYT?W.JoY-[]eXW]Y-VFbaFgcVWigdFvHfK`W"r"FDGg:YDdJoFTKK`[]baDGW?baFK`H
T?WnDGWigcF:Ddg:KFT Z*eWAV3T?WneVbGF:DGDaFVYlTW8JqbGe3T?WAYIHlY-[hbGYIW]HIr.YDabGK`V*bGF>
8DdKN[AF_Jar"FJoF--Y-[hbGDaFvWA[3HfK`baF:DGWiK`[AFvT?W.g:YV3JaeHIY3-jFT?W3j+K`DGW3r3DaY?T?YbobaW.gdWAHlWigcWstY*JaJaWATW
JaY[AjF:V*bGW8K-gcWiT?WFg:g`>Qu VF{j+K`V3VY~K`VVY+j-F:DdK+bGFlK[hbGDaFfr.F:DZ[ Kg:*eWiJobaY~T?WEHfK+bGF:DGWAK[]FfTK
[iK`.YDdK+baY-DaWAYs!jF:baDGF:DGWAK3Jaerr.YDabaW?e?bGF:V3JaW][AWFgg`>Qu >
V ^vrr.F:V3TWAg:F7y DaWAr"Y-DobdK+bdK [iK T?Y?gceHIF:V*bdK`X:WAYV3F4tYbaYp-DGK`U"g:K T?F:[A[ KV3K`[AWAJaWNK`[
HIWAg:DaY*Jag:YrWAY~F:[AFcbabaDGYVWigcY6T?F:[A[]Y6JqbGDGK`baY4K-JaJaYDG"FV*baF T?F[][AF r3DaWAHIFgcF[][AF{DGFK[]WAX:XK+baF VF:[
VY*JqbGDaYl[AK"Y-DGK`baY-DaWAY3>


$

. 12  126.3




2 / ( 2 . 1




RnYzJqbGe3T?WAYvHIYDatY[AYpWigcYT?WJobaDdK+baW*Joe3r"FDoU"g:WAK[]W-r(e vFJaJaF:DGF#F "Fcbabae3K`baYzW]VZr"K`DGFg:gd3W`HIYTW


r.F:DOFJaF:HIrWAY e?bGW][AW]XXKV3T?Y [AFWAV?tY-DaHfK`XW]Y-VW8r3DaY+j-F:VWAF:V*baWTK`[A[AY JagK+babaF:DGWAVp{HIFT?FJoWAHIY3>
W?r.Y-JGJoY-VY_e"JaKDaFDGKpp-W ' r.F:D[]FKV3K`[AWAJaW?gcDGWAJobGK[][AYp-DGK`U"gdF-Y-rreDGF|F[]F:bobGDaY-VW?T?W?3KJGJGK
Y_K[hbdKF:VFDap-WAKK_JoFgcYV"TKvT?F[-r3KDobGWAg:Y[iK`DGFJqbGe3T?WAY_HIYDatY[AYp-WAg:Ygd3FEW]V*bGF:DGFJGJaK3> zeW*j*WAFck
VFODGF:jFHIF:V*baFOT?WAJGgce"JaJaYZ[iKZbGFgcV3WAgKZ3K-JaK`bGKJae[A[AKHIWAg:DaY*Jag:YrWiKZKtYDGXKZK`baYHIWig:K3*gdF
=`x

DdK`rrDGFJaF:V*bdKNeV3KlK`[]baFDaV3K`baWAj+KHIF:V3Ylg:Y-JobaY-JGKZK'r3K`DGW]bGlT?WDaWiJoY-[]e3X:WAYVFOK`[HIWAg:DaY*Jag:YrWAY
F:[AFcbabaDGYVWigcY">
R8KHlWigcDGY-JGgcY-rWiKZKNtY-DaXKZK+bGYHIWAgKNDdK`rrDGFJaF:V*bdKNeV{VeY+j-YNbaWAr"YIT?W.HIWAg:DaY*Jag:YrWiKNWAV
pDdKTYT?WW]Vj-FJobaWAp-K`DGFvJaer"FDoU.gcW\JoeJagK`[iKZK+bGYHIWig:K> ?Y-ppW"r"Y*JaJaWAW][AF_WAVjFJqbGW]p*K`DGFvWAJaY`k
[iK`V*baWHIY[AFg:Y[AFYDGp-K`V3WAgdFFWAY[AYp-WAgd3FJGK`[AW-jF:baDGWFY-JGJoWiT?W3TW3HIFcbdK`[A[]W.K`[A[AKOrDGFJGJoWAYV3F
K`H'WAF:V*baF-nW]VJaY[AeX:WAYVWEK-g:*eY*JoFlY~gcDGW]Y-pF:V3WAgdF->'RKHIWigcDGY-JGgcY-rWAK^_ r(e HIWAJae?k
DdK`DGFtY-DaXFIK[AWAjF:[A[AYK`baY-HlWigcYFItYDGX:FfJaer.F:DaU"gcWiK`[AWEFI[]FfV"K`VY~rDGYr3DaWAFcbd HIFgg:KVWAgd3F
T?WHfK+baFDaWiK`[AW> zpp-W.jWJaYV3Y HIY[]baWFJaF:HIrWT?We3JaYT?F[][ ^z gcY-HIFrDGY`U3[AYHIF:baDGWT?W
K`[]bGKlDGWAJaY[AeXW]Y-VF?JaF:V3JaYDGW\T?WtYDGX:FNJaer"FDoU.gcWiK`[AW\FOV"K`VY-W]V3TF:V*bGK`baYDGW>BK`DGFggdWAFzVeY+j-F
baFgcVWigdFNT?W\WAHIHIKpWAVFMJoY-VYlJobGK`baFMWAV-bGDaY?T?YbobGFzY-pVeV3K'W]VteVXW]Y-VFNT?F:[bGW]r.Y{T?WtY-DaXF
HIWAJaeDdK+bGF?r.F:DFJaF:HIrWAYIHfK`pV3FcbaWigdF-?F:[AFcbobGDaY*JqbdK+bGWAgdF-g:Kr3Kg:WhbGW]j-F>
vVHIWigcDGY-JGgcYr3W]YKtYDGXKK+bGYHIWig:KgcY-V3JoWiJobaFfT?WEeV7JaF:V"JoY-DaFIgdFfDGWAJar"Y-V3T?F{KeV3K
tYDGXKF{T?WEe3V0DGWAjF:[iK+bGYDGFlgd3FlHIWiJoe3DGK[iKDGWiJor.Y-JobGKT?F[JoFV3JaYDGF>l[JoFV3JaYDGFneV8 K-JqbdK
T?YbGK+bdK T?WeV3KreV*bdK gcY-V}eV3KgcY*JqbdK`V*baF'T?WtYDGXK `nJoWHe3Y+jFWAV}DGWAJar.Y-JobGK K[][AFZtY-Dok
X:FfgdFfKpWiJag:YVYJoe[A[iK re3V-bdKFfW][DGW]j-F:[iK+bGYDGFHIWAJaeDdK [AY~Jor.Y-JobGKHIF:V*baYT?F:[A[ K-JqbdKgdF
r(e FJaJaF:DGFlg:YVjFDobGWhbGYWAVeV3KtYDGXKK`bobaDdK1jFDGJaY{[iK[]FppFfT?W _YDY @F    d  >{R8Y
Jar"Y*JqbdK`HIF:V*baYr e ~FJGJoFDaFlHIWAJaeDdK+baY}K`bobGDGK1j-F:DdJoYeVDaWAjF[AK`baYDGFIT?WE#F "FcbabaY~bGeVVF[T?W
g:Kr3Kg:WhbdZYleVDaWAjF [AK`baYDGF_YbobGWAg:Y3>RnFOreV*baFNK`bobae"K`[AW\r"Y*JaJaYVY'HIWAJaeDdK`DGFvtYDGX:FOVF[][ WAV?k
baFDaj+K[][A
Y  " k  " +>BFDlg:YV?tDGYV*baY4[]F tYDGX:FK-JaJaY?gcWiK+bGF gcY-V7W][[AF:p-KHIFgdWAHIWAg:Y
JaYVYIT?F:[A[ Y-DGT?WAV F  "
+ FZ*eF:[A[AFMTWneV[]Fp-KHlFOWAYVWigc Y  "  +Z>
RnYJGgcYr.Y0rDaWAV3g:W]r3K[]F~T?Wv*eFJqbdK0HlWigcDGY-JGgcY-rWi'K ~T?WHfK`rr"K`DGF[AF~Joer.F:DaU"g:WVF:[A[]Y
Jar3K`XW]YDGFK`[AF>[ErW W]HIr.YDabGKV-bGF{KJar"F:bobGY  *eF:[A[]Y}TWEHIWAJaeDdK`DGFIK-g:g:eDGK`bGKHlFV*baFI[]F
tYDGX:F'baDdK[AKreV*bGKFlW][EgK`HIrWAYVF->R8KtY-DaXK{r(e FJaJaF:DGFHIWiJoeDdK+bdK YK+babaDdK1jFDGJaYf[]Y
Jar"Y*JqbdK`HIF:V*baYJobGK+bGWAg:Y~T?F:[A[ KJobGK3gdFIDGWAJae[]bGKrDGYr.YDGX:WAYV3K[]FlK`[A[AKtY-DaXKY~K`bobaDdK1jFDGJaY
[AY0JaW] bfTF:[A[AK4tDaF*eF:VXK4T?WDGWiJoY-V3K`VXK}T?F[][AFY-JGgcWA[][iK`XW]Y-VWTF:[A[ KJobGK3>7R8K4tDaF-e3F:VXK
T?WOY-JGgcWA[][iK`XW]Y-VF~g:KHWiK7JaFgcY-V3T?Y[iKtYDGHe3[AK )   d    r.F:DdgcW 7HfK`V*baFVF:V3TY
gcY*JqbdK`V*baFf[iKtDGF*eFVXK~T?F[][iK~DGWAJaYV"K`VXKHlFV*baDGF{[AK}reV*bGK~FJor3[]Y-DGK[iK~Joe3r"FDoU"g:W]F-JoW
r.Y-JGJoY-VY'DGWig:K1j+K`DGF_Wnr3DaYU3[]WnTWnpDdKT?WAF:V*bGFOT?F[][iK'tYDGXK3>
[HlY?T?YOrW 'g:YHe3VFr.F:DY`babaFVF:DGF[ WAHIHfK`pWAVFT?F:[A[AKOJaer"FDoU.gcWAF |W][HIY?T?YOTWg:YV?k
bGK`bobGYlDGF:r3e[AJaWAjY3>R8Klre3V-bdK Or.YDabGK`bGK'W]V~g:YV*bGK`bobaYIgcY-VWA[ng:KHIrW]Y-VFMFM[AKIT?F:3FJGJoWAYV3F
JobGK+bGWAgKIT?F:[A[ KJobGKljWAF:VFNHIWiJoeDdK+bdK>ERK'r3*W bGW]rWig:KfKrr[AWAgK`XW]Y-VF N[iKfT?F:baF:DGHIW]V"K`X:WAYV3F
T?F[][iKZDGepY*JoW]bG3>OFVF:DdK`[AHIF:V*baFzJoWDGWAJaY[AjY-VYNj+K`DGWAKX:WAYVW"VF:[A[AK'T?WADaFX:WAYVFzXOT?F[][ YDdT?W]V3F
@ckq=`VH pDdK`XW]FfK`V"gdFfK`[A[AKp-DGKV3T?FIDaWiJaY[AeX:WAYVFlbGDGK-Joj-F:DdJaK[]F->{|Y-V[ K`WAe?baY}TF:WTK`baW
Y`babaFV*eba9W zr"Y*JaJaWAW][AF_T?F:baFDaHIWAV3K`DGF[]FzJor3KX:WiK+bGeDaFvTF:WgcDGWAJobGK[][AW3BF ?1YN[ Y-DGT?WAVFv[AY?g:K[]F->RK
tYDGXK4r(e 0FJGJoFDaFT?FcU"VWhbdKgcYHIF[AK4tYDGXK4F:[AFcbabaDGYHfK`p-VFcbGWAgK~baDdK6[]FJoe3r"FDoU"g:WT?F:[A[AK
reV*bdKNFvT?F:[g:KHIrW]Y-VFYDGWApWAV3K+bdK_bGDGKMW"[]Y-DaYZK`baY-HlW"gcY-JobaW]bae3F:V*baW>EW3r.Y-JGJoY-VYNHIWAJaeDdK`DGF
gcY-HeV3F:HIF:V*baFvtYDGX:FvHfK`p-VFcbGWAgd3FF[]F:bobGDaY*JqbdK+baWigdF--g:Kr3Kg:WhbGW]j-FT?W3j+KV T?F:D 0K-K`[iJ:T?W
JaY[Aj1K`bGKX:WAYVFZFg:g>ZRnF'tYDGX:FIT?W]r.F:V"T?F:DdK`VV3Y WAV6p-F:VFDGK[]FZV3YV6JaY[AYT3K`WHfK+baFDaWiK`[AWHIK
K`V"gdFZTK`[HIF:X:XY{WAV-bGF:DGr"Y*JqbGY3>_|Y-JaW8e3V3K{Jaer"FDoU.gcWAFJojWA[]e3rr"FDGltY-DaXFT?WAjFDGJaFZJoFVF:[
jeY`bGY3"W]V4KDaWiKIY WAV~eV}[AWi-e3WAT?Y">vV}[AWA*eWiT?WFT~F[]F:bobGDaY-[]W]baWK`[]baDGFNtYDGX:FTF:jY-VYfFJGJaF:DGF
gcY-V3JaWAT?FDGK`baF-*r.F:DFJoFHIrW]Yf*eF[][AFZT?W8JaY[Aj+K+bGKX:WAYVF->
3r.Y-JGJaW]WA[AFZK`V3gdFMHIWiJoeDdK`DGFM[]FNr3DaY-rDaWAFcbdlHlFg:gK`VWigdFNT?WneV"KfJoer.F:DaU"g:W]FZK`bobaDdK+k
jFDGJaYl[AKlHIWAJaeDdKIT?F:[\HIY?T?e[AY{T?WnF[AK-JqbGWAg:WhbdFN[iKIT?eDGF:X:XK>
W.DaW]baFVF_gdFvr.F:D|W]["rDGY-JaF:pe3W]DGFvT?F:[A[iKNDaWigcFDGgKMJoWiKNWAV3T?WiJor.F:V3JGK`3W][AFv[ K-g:*eWiJqbGYZT?W"e3V
^_ >WiK`HIYfW]VeV"KlbaDdK+bobdK+bGW]j+KfgcY-V[AKfR zDGW]F[\ bGK[]WiK1> "FT?FDaFN[AFZ^vrr.F:V"T?WAg:W^
F ) r.F:DvT?Y?g:eHIF:V*bGKX:WAYVFMFMrDGF:jFV*baWAjYIT?W8Jar"FJaK3>







b2 732 [ ,  2  ,6. 2




vV3YT?Fp[AWK-Jor.FcbabaWEg:F:V*baDdK`[AWV3F:[A[]YJqbGe3T?WAYTF:[A[]FIgcF[][AFlJaY[iK`DGW l[ YbobaWAHIW]XXKX:WAYVFlT?F:[A[AK


g:K`bobGeDGK4T?F:[A[AK}[]e3g:F>0RnFg:F:[A[]FJoY-[AKDaWK6gcY-[]Y-DGKV-bGFfYDGp-KVWAg:Y~T?F:j-YVY}WAV?!K`bobaWDGW]e3JGgcWADGF
KT4W]V*bGDGKrr"Y-[AKDaFl[iK HfK`p-pWAYDM*e3K`V*baW]bGr.Y-JGJoWAWA[]FIT?WEFVF:DGpWiK{[AeHIWAVY-JGKW]V3g:WATF:V*baFIWAV
HIY?T?Y e?bGW][AF>MBF:Ddgdl-e3FJobaYK1jj-F:Vp*K VFgcFJGJGK`DGW]Y{g:YV3JaWATF:DdK`DGFT?WAjF:DdJaWKJar.FcbobGWT?F:[
teVXW]Y-V3K`HIFV-bGYfT?F:[A[AKIg:F:[A[AK3>
BF:DvK`e3HlFV*bGK`DGF_[ KJGJoY-DaWAHIF:V*baYlT?F:[A[iK[Ae3gcFNJaWnT?F:j-FzDGWiT?eDGDaFOK`[\HIW]V3W]HIYI[AK'[Ae3gcFNT?W
[AeVp3F:X:XKMT\ Y-V3TKOe?bGW][AFvgdFjW]FVFbaDdKJaHIFJGJaKzFv*eF:[A[AKODGWh"FJGJaK3>FY*JaJaF:DGjWAKHlYMgcY-HIF
p[AWYDGp-KVWiJoHIWgdFIe?baWA[]WAX:XK`VY[Ae3gcFfgcY-HIF'tY-V*baFIrDGW]HfK`DGWiKT?WFVF:DGpWiK3K`VV3Y2K ".DGYV?k
bGK`baYF'DGWiJoY-[hbGY*eFJqbGYrDGY3[]FHIKT?eDdK`V*baFl[ FjY[AeXW]Y-VF'T?Fp[AWK`rr3KDGK`baWtY`bGY-JaW]V*baF:baWigcW
r.Y-JGJoWiK`HIYZgcFDGgK`DGFvT?WJqbGe3T?WiK`DGFveV{HIFgg:KVWAJaHIYZgdF_DGWArDaY?T?e"g:KMVF[][AFzg:F:[A[]F_*eF[][AYgdF
K1jjW]FVFZVF[][iK{tYbaY*JoWAV*baFJaW>OR8FlJobaDGe?bobGeDGF'T?Fre?bGK`baFIK`[A[AKg:K`bobae3DGKT?F:[A[AK []e"gcFIJoWDaW]baDGY`k
j+K`VY}TWAJar"Y*JqbGF JaerWAKVWEtY-DaHfK`baWTK}HlFHDdK`V3FfF:V*baDGY~[]F-e"K`[AWJoY-VY~YDGp-KVWAX:XK`baWW
gcY-HIr[]FJaJaWr3DaYbaF:WAV3K`krWApHIFV-bGW|gdFW]V*bGF:DdK`pWiJGgcYV3Y}gcYV[iK}[Ae3g:F> zeFJobaFHlFHDdK`V3F
JaYVYr"Y-WW]HIrWA[AK`baFfK tYDGHIKDaF'rW JobaDdK+bGW\DGF:V"T?F:V3TYg:Y-:J 9FJqbGDaFHfK`HIF:V*baF'#F {g:K-gcFl[AK
DdKg:g:Y[]bGKIT?F[][iK{[Ae3gcFr"FDzeV3Whbd{T?WJoer.F:DaU"g:W]F->_RnFZDdKTWAKX:WAYVW8TF:[A[AKfp-W]e"JqbdKf[]e3VpFX:XK
T\ YV3T3K4JaYVY4g:YHIr[AFcbdK`HIF:V*baFKJGJoY-Da3WhbGFfF[ FVF:DGpWiK~T?WFggcW]bGKX:WAYVF{jWAF:VF baDdKJotF:DGWhk
bGK jFDGJaY{WgcFV-bGDaWT?WDGFKX:WAYVFTY+jF'K1jjWAF:VFZ[iK tY`baYkY*JaJaWiTK`XW]Y-VF"[AKJoFr3K`DdK`XW]Y-VFT?W
g:KDaWig:K3>
R8KlJqbGDGK`baFpWiKNe3JGK+bGK OTeV3*eFM-e3F:[A[AKlT?W\gcDGFKDaFve3VJaWAJobaFHIKlJobaDdK+baW]U"gK+baY'gdFOg:YV?k
baFVp-KZeVg:F:DabaYY-DGTW]VFzK`[JoeY'W]V*bGF:DGVY3>BF:DYDdT?WAVF_JaW.WAV*baFV3T?FzTW]DGFzgdFzW][\JaWAJobaFHfKT?W
g:K`bobGeDGKMT?F[][iKM[Ae3gcFs![]FvKV*baF:V3VFuTF:jY-VYMFJGJoFDaFWAVfgcYV*bGW]VeW]bGNT?W"gcYV*bdK+bobGYNFggcW]baYV3WAg:Y
gcY-VW][gcF:V*bGDaYIDGFT?Y stWA[gcFV*baDGYITW8DGFK`XW]Y-VFuTY+jFNK1jj*WAF:V3FNW][nr3DaY?gcFJaJaYfT?W8Y*JaJaWiTK`XW]Yk
VF-W][8r3KJGJaKpp-W]YlT?F:[A[ F:[AFcbabaDGYVFZK[][ Kg:g:FcbabaYDGF>WAr.YDabGK`V"T?Yf-e3FJobaY{JGgdF:HfKlpFVF:DdK`[AF
K`[A[iKZJqbGDaebobae3DGKZTF:[A[]F_g:F:[A[]FOKZgcY-[]Y-DGKV*baFr.Y-JGJoWiK`HIYNr.F:V3JGK`DGF_KTIe3V JoWiJobaF:HfKZgd3F_e?bGW][AW]XX:W
rW 7JqbGDGK`baWT?WV3KVYr"K`DabaWigcF:[A[AF{T?WY*JaJaWATY}T?WbGWhbdK`VWAY4g:Yr.F:DabaF{TK[|gcY-[]Y-DGKV*baF> zeFJqbGY
r.F:DGHlF:bobGF:DGF:.FMeVK-JaJaYDGWAHIF:V*baYlgcYHIr[AFcbGYlTF:[A[]FMDdKT?WiK`XW]Y-VW"ebaWA[]W> zjj*WiK`HIFV-bGFze3V
JaWAJobaFHIKY-Dap*K`VWAX:XK+bGYK4JqbGDGK`baWg:YHIF{[AF{HIF:H3DGKVFItY`bGY-JaW]V*baF:baWigdFDGWAgdWAFTF K`V3gd3F
eV0JoWiJqbGF:HfK TWg:YH'eVWig:K`XW]Y-VFZF[]F:bobaDGWig:K gd3F'gdWAe3TKW][gcWADdgceW]baYW]V6HlY?T?YteVXW]Y-V3K+k
[AF>7V K`[]baDGFr3KDaY-[]F-Yp-VWJobaDdK+bGY0TY+j*DGF:3"FFJGJoFDaFW]V gcYV*bdK+bobGY0g:YV eV Jae3JobaDdK+bGY
gcY-V3T?e?babaY-DaF-> ze3FJobaFMr"Y*JaJaWAW][AW]bGIJoY-VYfK+babae3K[]HIF:V*bGFOHfK`baF:DGWiKlTW8JqbGe3T?WAY3>
RE Y`babaWAHlWAX:XK`XW]Y-VFT?F[][iKDdKg:g:Y[]bGKT?F[][iK[Ae3gcFTF:jF|K`V3TKDaFETW-r3KDaWr3KJGJoYvg:YVN[AY_Jobae?k
T?WAYZT?W3K[hbGDaWK-Jor.FcbabaW>V!K+bobGW*rW IF:VFDap-WAKO[AeHIW]VY*JaKOjWAF:VFvgK+bobGeDdK+bGK3`rW fK`eHIF:V*bdKMW][
DGWAJGgdWAYTW-K1jFDaFeVNFg:g:FJGJoYT?W-F:VFDap-WAKgdFr.Y`bGDaF.FEr"Y-DobdK`DGFEKTOeVZTKVVFppWiK`HIFV-bGY
T?F[nJoWiJqbGF:HfK>?WnDaWiT?e3g:FN-e3FJobaYIDaWiJGgdW]YlWAVTeFNHIYTW>;
@->JGgcFp[AW]FV3T?YZe3VgcY-[]Y-DGKV*baFvgdFOK`WiKZe3V{[]WAjF[][AYZFVF:DGpF:baWigcYT?F[][AY'JobGK`baY'Fg:g:WhbdK+bGY
gd3FT?F:j-FT?Y-V3K`DGFM[ F:[AFcbabaDGYVFZjWigcWAVY Kf*eF[][AY T?F[][ K-g:g:FcbobGYDGF"W]V}*eFJqbGYfHlY?T?Y
JaY[AY}eV"K~rWig:gcY-[AK}r3K`DabaF{T?F[][ F:VFDap-WAK~j-F:DGDGr.F:DdJaK4JoYbobaY}tYDGHIK~TWgK`[AYDGFfVF:[
r"KJGJaKppWAY'TF:[A[ F:[AFcbabaDGYVF6=
=>g:F:Ddg:KV3T?YvT?W*rDGY`baFpp-F:DGFWA[-g:Y[AYDdK`V*baFTK[][iKtYbaY?T?F:p-DGK-TK`XW]Y-VFgdFEr e _K1jjF:V3W]DGF
*e3KV3T?YI[ FVF:DGpWiKr.F:DGHfK`VFObGDaY-rr"YfKI[AeVp-YIJae[A[AKlHIY[AFg:Y[iK>
BF:DN*eF:[A[AYgdFIDGW]p-e3K`DdTKfWA[rDGW]HIYKJar"F:bobGY3n[iKJGgcF[hbdKTF:[EgcY-[]Y-DGKV*baF\JaYVYrDGFJaF:V*baW
WAV}[]F:bobGF:DdK+bae3DGKfHIY-[hbGWJobae3TWJae}HIY[AFg:Y[AFZW]V6pDdKT?Y{TWJajY-[]p-F:DGFZ-e3FJobGKIteV3X:WAYVF->zRnF




=P

HIY[AFg:Y[AFOT?W8DaW]tF:DGW]HIFV-bGYlJaYV3YlJar"FJaJaYlrDaY-rDGW]YI*eF:[A[]FMV3K`baeDdK`[AW?[AKIJobaDGe?bobGeDGKlT?Wn"KJaF
MW]V!K+bobGW8Jar"FJaJaY'DGW]tF:DGW]WA[AFMKIg:[]Y-DaYU3[][AFOYIK-T K[hbGDaW\rWApHIFV-bGWngdFNJoY-VYIJqbdK+baWnbaDGY+j1K`baWWAV
T?WAjFDGJaWYDGp-K`V3WAJaHIW.jWAjFV-bGWngcY-V teV3X:WAYVFZT?Wg:K+babaeDdKIT?F:[A[iK'[Ae3g:F>
z[hbGDaFK`[A[ F:VFDap-WAK~TF:[A[]Y0JqbdK+baY4F:[AFcbobGDaY-VWigcY}T?Y-V3K+bGYDGFC  WAHlr.YDabGKV*baF JaF:[AF:XW]Y-V3K`DGF
eV3K{HlY-[]FgcY-[AKfgdFZKWiK{JobGK`3W][AWhbdfVF[nbaFHIr"Y{FlgdFNr.Y-JGJaKfFJaJaF:DGFM[]Fp-K`bGKI#F {g:W]FV-bGFck
HIF:V*baFK[][ Y*JaJaWiT?YOTW?baW]bGKVW]Y">RKzJobGKWA[]W]bG [AF:p-K`bGKOJqbGDaF:bobdK`HIF:V*baFK[][iKzg:YV?U"peDdK`XW]Y-VF
F:[AFcbabaDGYVWig:K_FTlK`[A[AKzrDGFJaF:VXKzTWT?W]j-F:DdJoWJobGK+bGWT?W?j+K`[AF:VXK_HIFV-bGDaFWA[?[]Fp-K`HIFgcY-V[ Y*JaJaWhk
T?Y"+VFg:FJGJaKDaWAY_r.F:DeV"K_e3YV3KMgcY-HeV3WAgK`X:WAYV3FF:[AFcbabaDGYVWig:K_baDdKOT?YV3K`baY-DaF|FTlKg:g:FcbabaY`k
DGF?T?WAr"FV3T?FNTK`[A[iKrDGFJaF:V3XKTWJar.FgcW]U"g:W\pDGerrWWAV pDdKTY'T?W\WAV*baF:DdK`p-W]DGF_g:YV [ Y-JGJoWiT?Y3>
|YHIFNHIY?T?F:[A[AW8r.F:D_Jobae3TWAKDaFNVeY+jW8g:Y[AYDdK`V*baW\gdFKWiK`VYf*eFJqbGFZg:K`DdK+babaFDaWiJqbGWAgd3FOF
gdFJaWAKVYMr"FD ZKV3gdFKM3KJGJaYMg:Y-JobaYNJaWJqbdK`VVYNebaWA[]WAX:XK`V3T?YMWAV{*eFJobaYNJobGKTW]YMFJobaDdK+babaW
jFpF:bGK`[AW3g:YV*baFVF:V*baW"rWApHIF:V*baW.T?WT?W]j-F:DdJaKMV"K+bae3DGK3-K`V"gdFvVY-Vf[]Fp-K+bGW"K[][ Krr3KDGK`baYOtY`k
baY*JoWAV*baF:baWigcY{s!g:YHIFKTIFJoFHIrW]Y"[AF_K`V*bGYg:WAKVWAVFrDGFJaF:V*baW"VF:[A[ ej+K-uc> +vF:[A[ ^_rr"FV3T?WigcF
JaW\bGDaY+j+K`V3Y'p-[]WnJar"F:bobGDaW8TW8KJGJoY-Da3W]HIF:V*bGWTW8K`[igceV3WngcY[AYDdK`V*bGWKV3K`[AWAX:XK`baW>
WJobGK~KV3gdFIj+K`[Ae?bGKV3T?Y[AKr.Y-JGJoWAWA[]W]bG~TWEe?baWA[AW]XXK`DGFIrW TWEeVgcY-[]Y-DGKV-bGF\DGF:V?k
T?FV3T?YNgcY*J 9.rW I#F {gcWAF:V*bGF[AKODdKg:g:Y[]bGKOT?F:[A[iKM[]e3g:FFTlW]["JoeYMe?bGW][AWAX:X:YNp-DGKX:WAFK[][AFT?WAjF:DdJaF
rDGYrDGWAFcbGT?F:[A[AF'HIY[AFg:Y[AFlJGgcF[hbGF>^_V3gdFI*eFJobG K 'e3V3KJaY[AeXW]Y-VFlgd3FlJaWDaW]baDGY+j+K{WAV
V3K`baeDdK V3F:p[AWKrr3K`DdK+bGWtY`baY*JoWAV*baF:baWigcWET?WE"K+bobGF:DGWK`[ApFIFIrWiK`V*ba6F ;Mbae?babaWEWAV?!K`bobaW|r"Y*Jqk
JaW]FT?YVY}TW]j-F:DdJoWEr3W]p-HlFV*baW[AF:p*K+bGW|K`[A[AFfrDaYbaFW]VFK`V*baFVV3Ks!K-TFJaF:HIrWAY~VF[][AF{rWiK`V*baF
gc[AYDGY`U"[][iKfK\gc[AYDGY`U"[][iKfn[Ae?baFW]V3K3Fg:g>]>A>Qu~WAV4pDdKTY{T?WW]V*baFpDdK`DdJoW8VF:[A[ KJGJaYDGW]HIFV-bGY
T?F[][iKl[]e3g:F>
+vF[][AFzg:F:[A[]FOKNrW gcY-[]Y-DGKV-bGW3JaW"r.Y`bGDaF"FDaYNWAr.Y`baWAX:XK`DGF_T?eFOT?WAjF:DdJaW3HIFgg:K`V3WAJaHIW"T?W
teVXW]Y-V3K`HIFV-bGY3> vV3KMr3DaWAHfKMr"Y*JaJaW]3W][AWhbd v*eF:[A[AKNTW3e?bGW][AW]XXKDaFrWApHIFV-bGWWAVfpDdKT?YNT?W
baDdKJotF:DGWADGJaW?[ F:V3F:DGpWiKNT?W3Fg:gcW]bGKX:WAYVF--g:W JaWApVW]U"g:KNTW]DGF_gdFvr.Y-JGJaYVYNYNFJaJaF:DGFWAJaYF:VFDok
pF:baWigcW_sT?Yr.Y4K-JaJaYDGWAHlFV*baYj+K`VVY}JaeeV[AW]j-F:[A[]Y~FVF:DGpF:baWigcY~gcY-HIr3K`DdK`WA[AFuOYr3reDGF
K1jFDaFMeV8 FVF:DGpWiKfgdFJGgcFV3T?FZj-F:DdJoYf*eF:[A[iK{T?F:[A[ K-g:gcF:bobGYDGF> vVn K`[]baFDaV3K`baWAj+K '*eF:[A[iK
T?W|e?baWA[]WAX:XK`DGFfrWApHIF:V*baWT?WAjF:DdJaWEVF:[A[ K-JaJaYDGWAHlFV*baY~gdF{r.Y-JGJoWAFT3K`VYbGe?bobGW|eV[AWAjF:[A[AY
F:V3F:DGpFcbGWAg:Y~e?baWA[AFr.F:DlT?YV3KDaFT?W]DGFcbabGKHlFV*baF{[ F[]F:bobGDaY-VFK[][ Y*JaJaWiT?Y3*eFJobGK}JaFg:YV3T3K
r.Y-JGJoWAWA[]W]bGIr.F:D Ir"YbaDGF:.FNr"Y-DobdK`DGFNKTeV}JaeDaDGWiJagK`[iTK`HIF:V*bGY'g:Ke3JGK+baYfTK[][iKfT?WAjFDGJGK
T?WiJqbdK`VXKIT?F:W\[AW]j-F:[A[]W8F:VFDap-FcbaWigcW.bGDGKIT?Y-V3K+bGYDGFzFTK-g:g:FcbobGYDGF>
ze3K`V"T?Y JaWMY`bobGW]HIWAX:XK [iK DdKggcY-[hbdK7T?F:[A[iK [Ae3gcF W]HIr.YDabGKV-bGF4r.YWMjFDaW]U"gK`DGF}[AK
*e3K`V*bGWhbd4gdFj*WAF:V3F #F "FcbabaWAj+K`HIF:V*baFe?bGW][AWAX:XK`bGK3E-e3F:[A[AK6-e3W]V3TWgd3F jW]FVFgcYVj-F:DabaW]k
bGKle?bGW][AHIF:V*baF->RE FggcFJaJaYfT?WnF:V3F:DGpWiKVY-Ve?baWA[]WAX:XK`WA[AFODdK`r3WATKHIF:V*baFfstWAVeV3KlU3V3FJobaDdK
baFHIr"Y-DGK[]FJoYbobGYzWA[rWAg:Y-JaFg:YV3T?Yu\r e Or.YDabGKDaFKTeV3KMT?WAHlWAVeX:WAYV3FT?F[baFHlr.YNT?WjWhk
bGKOT?F[][AFgcYHIr.YVFV*baWT?F[][iKMgcF:[A[iK>RK_r.F:DGHfK`VFVXKOT?Fp[AW?F:[AFcbobGDaY-VW?K`[A[]YMJobGK+bGYMFg:g:WhbdK+bGY
r(e fK`bobaWAj+K`DGFzWAV?!K`bobaWK`[]baDGFOjWAFNT?WnT?Fck FggcW]bGKX:WAYVFIstr3K-JaJGK`p-pWAY'K[][AYfJqbdK+baYIT?W\bGDaWAr[AFcbabaY*u
gcY-V[iKIr.Y-JGJoWAWA[]W]bGfT?W8r"Y-DobdK`DGFMKIjWAFMW]V3TFJaWAT?FDGK`baF-> zeFJobaYltFVYHIF:V3Y ZJqbdK+baYIHIY[]baY
Jobae3T?WiK+bGY VF[][AFr3WAKV-bGFr.F:Ddgdr.YDabGKKT~e3V}DGKrWiT?Y TKVVF:p-pWiK`HIF:V*bGY T?F:[A[ Krr3K`DdK+bGY
tY`bGY-JaW]V*bGFcbaWigcYFT IT?Y+je?bGYK`[A[iKftYDGHfK`XW]Y-VFT?WDdKT?Wig:K[]WFJobaDGF:HfK`HIF:V*bGFDGFK+babaWAjWgdF
r.YDabGK`V3YMK[][iKMT?WiJqbGDaeXW]Y-VFvT?F[][AFHIY[AFgcY-[]FgdFvK-JaJaYDG.YVYO[AKM[Ae3g:FFvT?F:[A[]F_rDaYbaFW]VFgdF
[AF [AF:p-KVY3>6RE Y-JGJoWApFV'Y g:YWAVjY[]baY}TW]DGFcbabGK`HIFV-bGF WAV *eFJobaY6rDGYg:FJGJoY6T?WAJobaDGe?babaWAjY3>
JaWAJobaY-VYZT?WAjFDGJaW3HIFgg:KVWAJaHIW3T?W"tY`bGYrDGY`bGF:X:WAYV3F`Y+jjFDaYNT?WT?WiJaJaWAr3K`XW]Y-VFVYVfDdKTWAK`k
baWAj+K{T?F[][ Fg:g:FJGJoY TW8F:V3F:DGpWiKIVF:[A[]F'rWiK`V*baF->v^v[A[AK 3KJaFT?W-e3FJobaWrDaY?g:FJGJoWnr3DaYbaFcbabaWAjW
gcWJaYVYZ[AFzgK`DdK+babaF:DGWiJqbGWAgdFvgd3W]HIWigcY`kU"JaWAgd3F_T?F:Wg:KDaYbaFVYWiT?W-gcY-HIF \kg:K`DGY`bGF:VF_F K`V?k
baYU3[A[]6F =?[]FZJobaDdK+bGF:pWAFOe?baWA[]WAX:XK+bGFNVF:p-[]W\Y-Dap*K`VWiJoHIWjW]j-F:V*baW\r.Y-JGJaYVYITK`DGFNJor3eV*baYIr"FD[]Y


=`w

Jobae3T?WAYfT?W8KV3K`[AYp-WnJoWiJobaF:HIW\rDGY`bGFcbabaWAj*WK+bobGW8KTK[][AeVp*K`DGFz[iKlj*W]bGKfTF:[A[]FZg:F:[A[]FNJaY[iK`DGWK
gcY-[]Y-DGKV*baF_Y-Dap*K`VWigcY">

 

 2 73.+. 2 ,6' 2 .




%

WnDGWAr"Y-DobdK`VYIK`[igceV3FOV3Y`baFMDGWAKpe3KDGT3K`V*baW.Wnr.Y[AW]HIF:DGWngcY-V3T?e?babaY-DaW>

=-



=`

  
   





  

x

 



  

      

   

x@



  

       C    


         


 

x-=

xx

  
a     



        
    
   
       

x-P

xw

x*

        
*K`HIFJ^Z>`^_V3T?F:DdJaYVKV3T T!AKDGT'Y-JaF:V?tF[ATn+FT?W]baY-DGJ> & ( 7 &J7 (/6 .<*38" 5#7  8
D/2.>*:728!, 7 5 ( +, J/B( &?> F  BEDGFJGJ:zKHDGWATpF KJGJaK-gd*e"JoF:bobGJ -=?@ =
@-3> vV[AW]3DaY'tYV3T3K`HIF:V*bGK[]FNgdFMDdKggcYp-[]WAF_W\[iK1jY-DaWgdFM3KVVYlHlFJaJaYl[]FN3K-JoW
T?F[nVF:e3DaY?gcY-HIre?baWAVp">
Q= NB!>  >^_V3T?F:DdJaYVn>0^v3JaF:V3g:F{Y`_TW "e3JaW]Y-V WAV gcFDobdK`WAVDGKV3T?YH [iK+bobGWAg:FJ> )  % , @
  3 @An@-!
;A@ *=?"@-P>
x
 >3RQ> "Y-JF:b_K`[> ),% , @   3 @ " P`!x ;A@w*=`x3@ .@w-=x-P?@w3>
">'B>IYe"-e3F
>  *  %, 
/ 3 #, *38  7.(/ 1*  >?B*:/`> M[Ae AF:D ^g:K-T?F:HIWig
BEe3[]WiJo3F:D1 +vF:baFDa[iK`V3T3J:\@3>
QP )O> M> vY[A[iK`V3T\z>> )[AKV?tYDdT\KV3T ^>E*baFW]Vn> V-bGFJaWiJ'Y_HfKg:DaY-r"Y-DaY-e3J
HIW]V3F:DdK`[iJ AW]baWAp[ fYDdT?F:DGFTfbaDGF:F:k T?WAHIDaFV3JaW]Y-V3K`[K`DGDGK ?JYTJarF:DGYWiTK["j-YWiTJ:>
 &)* )8&?c.=`@-\@->
w > -YVn> *baDGYV3p [AYgK`[AW]XK+bGW]Y-V Y`ZrYbaY-V3J WAV g:F:DabGKW]V T?WiJaYDdT?F:DGFT T?WAF:[AFgcbaDGWAg
Jaer"FDa[iK+babaWigcFJ:> )  % , @   3 @ 8).>.#(J, P`9 ; = -w.@>
 > >BEeDdgcF:[A[>mr"Y-V*bGK`V3F:Ye"JfF:HIWiJaJaW]Y-V rDGY3KW][AW]baWAFJ{K`bDdKT?WAYtDaF*eF:V3g:W]FJ:>
)  % ,&@   3 @A3w-! ; w3@@ w>
T AK`DdT >BEeDdgcF:[A[vK`V"T KDa[]baY-V N>BF:V3V r3K-Jg @FD>7?gK+bobGF:DGW]V3p0KV3T K3JaYDak
baWAYV6Y`E[AW]p-*bO VYV"Jor3F:DGWAgK`[TW]F[]Fg baDGWigp-DGKW]V3J> 01 ,+.<( 7 /1,% ,+*:&J/B1 7  (+8 /B1
@-!w ; +*P ?@ y_WigI@+x3>
)O>3^Z> "EK`V W]p-pF:[AF:V8>  7 & /214* /B.<*:7B8 7 5 / 3 +, >
A@
)O> ^Z> "EK`V W]p-pF:[AF:V8> FJoY*Jag:YrWig []WAp*b JGg:K+babaFDaWAVp W]V K+bGYHIWig r3 ?JaWAgJ:>
FgdVWig:K[DaFr"Y-DobnR8K"Y-DGK`baYWADGFJ_TFlB ?JaWA*eFIF:b YT:[AWAJGK+bGW]Y-V0T?FJN ?Jqb :HIFJ
|YV"T?F:V3JaJ" +_z vV3W]j-F:DdJoW]ba
-Y-JaF:rY-eDaWAF:DODaFVY3[]F-DdK`V3g:F>
A@&@
"> >l> 3>  W qVY+j-F:V K`V3
T  >EREE> "Y*J:> BEDaFr3K`DdK+bGW]Y-V7Y`OrYbaYV3WAggcDGWAJobGK[AJ
HfKT?FNYKW]DvJarFDaFJW]VbaW]bGKVWAK3>  &)* #8 &?c"=6@ ; --=?.@-3>
A@= > -K`3[]Y-VY+jWhbdgdn>+BEYbaYV3WAg3K`V3TZp-K`rZJobaDGe3gcbaeDGFJ>  @8/.@5 7 & @ (9@ " *@9 ; =x3
@-x3>
A@&

x

Potrebbero piacerti anche