!"#$%&'$()*%+"'%&,$(%&-).

/(-&01(1)",(-23$,(41(,$&-"1)5)",(%2#$,(167
!"#$%#&'#()#*+,-./)#()#!**0
1234)/53($(#6$+372$%#8-,927:$#()#;<=3+7
#####################>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

!"#$%"#&'(&)*&+%,#,#
!(-)(.,"/(#&#"0%(&()&+")*1#"&'(&)*&+,2,),3*+,4/&05%65(#*

?7/@)#A)325,)32
B7/@).)325,)32CD$E77F+7:

G$#+/3535#:-2(3$%#$H$/)+39#H/3:)/7#.$B7#%$#I7/:$#()#-2$#,-/.-%)2+3$#I32$2+3)/$#):H-B$($#
H7/#)%#()532I%)#()#%$#.-/.-B$#32:7.3%3$/3$#27/,)$:)/3+$2$J#32+%-57#323+3$%:)2,)#27#I$%,$/72#
7H32372)5#()#!"#!$%&'#K:-D#(3I-2(3($5#H7/#%75#:)(375#()#+7:-23+$+392L#$5)@-/$2(7#M-)#
%$#,7/:)2,$#(-/$/N$#H7+7#($($#%$#I7/,$%)O$#@)2)/$%#()#%75#P5,$(75#123(75#D#+-$2(7#%75#
H/7.%):$5 # $-:)2,$/72 # 532 # 5-H)/$+392 # $ # %$ # 435,$ # -2$ # 2-)4$ # $2($2$($ # () # H/7295,3+75#
,/$2M-3%3O$(7/)5 # 275 # 32I7/:$.$ # M-) # %$5 # (3I3+-%,$()5 # ()% # Q:H)/37 # 27 # ,)2N$2 # H7/M-)#
H/7H$@$/5)#$#)5+$%$#@%7.$%#K5327#,$%#4)O#:-D#(<.3%:)2,)LF#6$+39#$5N#%$#43($#)IN:)/$#()#%$#
R%!&$()*+!,*+!')-&#,!.*K@)7@/SI3+7L#5)@T2#%$#+-$%#$%@-275#)5H$+375#+)2,/$%)5#7#H)/3I</3+75#
):)/@)2,)5#)5,$/N$2#%7#5-I3+3)2,):)2,)#/)5@-$/($(75#()#%$#,7/:)2,$#+7:7#H$/$#H/)5)/4$/#
5-5#)+727:N$5#)#32+%-57#H/75)@-3/#%$#)=H$25392#532#:$D7/)5#H/7.%):$5F#1275#$H75,$.$2#
$#%$#5-H-)5,$#57%3()O#)-/7H)$J#7,/75#$%#):H-B)#$//7%%$(7/#()#UE32$J#Q2(3$#7#A/$53%#D#H7/M-)#
27#$#%$#/)2$+3)2,)#H7,)2+3$#)2)/@<,3+7>:3%3,$/#/-5$F#P575#:35:75#:)(375#()#+7:-23+$+392#
E$.N$2 # 5$,-/$(7 # $% # H%$2),$ # (-/$2,) # :-+E75 # $V75 # +72 # %$ # 3()$ # () # M-) # 232@-2$ # 2$+392#
@/$2()#7#H)M-)V$#H7(N$#)5+$H$/#$#%$#@%7.$%3O$+392#+$H3,$%35,$#D#M-)#53#-2#H$N5#7#-2#@/-H7#
()#H$N5)5#27#3253@23I3+$2,)5#5)#/)5I/3$.$2#)%#+72,$@37#5)@-/$:)2,)#5)#H/7H$@$/N$#$#)5+$%$#
H%$2),$/3$W#$E7/$#/)5-%,$.$#M-)#+-$2(7#%75#P5,$(75#123(75J#)%#+)2,/7#()%#:-2(7J#5-I/N$#
-2$ # )2I)/:)($( # @/$4) # 7,/75 # )5H$+375 # ()+353475 # () # %$ # )+727:N$ # @%7.$% # 27 # 5)/N$2#
H)/B-(3+$(75#7#%7#5)/N$2#:N23:$:)2,)F#X-)#)2#!**Y#%$#5-H)/H7,)2+3$#/)H/)5)2,$.$#+)/+$#
()%#!Z#[#()%#\/7(-+,7#A/-,7#;-2(3$%J#-2$#()-($#,7,$%#>HT.%3+$#:S5#H/34$($>#+)/+$2$#$%#
\A;# KD# -2$ # ()-($ # )=,)/2$ # ,7,$% # )M-34$%)2,) # $% # !! # [ # ()% # \A;L # 27 # H$/)+N$ # $I)+,$/ # $%#
H/7295,3+7F#U7:7#)5#%9@3+7#%75#)I)+,75#()#%$#32,7=3+$+392#:)(3S,3+$#(-/$/72#:-D#H7+7W#
P-/7H$#)2,/9#)2#/)+)5392#):H-B$($#H7/#%75#P5,$(75#123(75#H)/7#,$:.3<2#+$/@$2(7#+72#
5-5 # H/7H3$5 # ,$/$5 # H$/$53,$/3$5J # %$ # 7%$ # 2)@/$ # %%)@9 # ,$:.3<2 # $ # ?$H92 # D # ) # 32-2(9 # $ # %$5#
%%$:$($5#H7,)2+3$5#):)/@)2,)5#()#%$#/)@392#+7:7#Q2(3$F#U7/)$#()%#]-/#7#UE32$#D#()#7,/$5#
O72$5#()#%$#H)/3I)/3$#+7:7#A/$53%F#
G$#+/3535#)5#:-2(3$%#D#5)/S#%$/@$J#%$#$+-:-%$+392#()#()5$B-5,)5J#5-#:$@23,-(J#27#5-@3)/)2#
-2$#/SH3($#/)+-H)/$+392#()%#535,):$#5327#,7(7#%7#+72,/$/37#$-2#53#/)5,/32@3:75#)%#$2S%3535##$#
5-5#$5H)+,75#)+729:3+75#K$#+7:3)2O75#()#7+,-./)#()#!**0#%$#+/3535#I32$2+3)/$#5)#+7243/,39#
)2 # -2 # +7%$H57 # M-) # E$ # H-)5,7 # .$B7 # 53@27 # () # 32,)//7@$+392 # $ # ,7(75 # %75 # )5+)2$/375 # ()#
5-H)/434)2+3$#()%#+$H3,$%35:7LF###########

7)&#(65/'"&'(#*+"1)(

\)/7#M-)($#)2#H3<#7,/7#+!')-&#,!#27#:)275#3%-57/37^#)%#'!-%&$/),F#P=35,)#-2$#()I7/:$+392#
+-%,-/$%#)2#2-)5,/$#+343%3O$+392#M-)#):H-B$#E$+3$#%$#I/$@:)2,$+392#()%#+727+3:3)2,7J#E$+3$#
%$#2)@$+392#()%#:-2(7#+7:7#,7,$%3($(J#+7:7#535,):$#+7:H%)B7#)2#:743:3)2,7F#G-+3)2#
_7%(:$2#57%N$#7H72)/#()#:$2)/$#,$B$2,)##0/+!&,&1().#K/)(-++37235,$J#(357+3$(7/$L#D#02/'/34 *
+!, * 564+&.J # )2+72,/$2(7 # $%%N # -2$ # () # %$5 # +%$4)5 # () # %$ # /)H/7(-++392 # () # %$ # 7H/)5392#

'
.-/@-)5$ # D # )2 # +725)+-)2+3$ # ()% # +$:327 # H$/$ # ):$2+3H$/275 # () # )%%$ # :$/+$(7 # H7/ # %$#
/)+-H)/$+392 #()#%$# H)/+)H+392# () #%$ #/)$%3($( #+7:7# +72B-2,7 #$:H%37J#H%-/$%J# +7E)/)2,)J#
+72,/$(3+,7/37J#(32S:3+7F#########
G$#+/3535#$+,-$%#E$#%%)4$(7#E$5,$#)%#)=,/):7#%$5#,)2()2+3$5#H53+7%9@3+$5#(357+3$(7/$5J#)2#
.-)2$#:)(3($#$%)2,$($5#H7/#%75#:)(375#()#+7:-23+$+392F#G$5#,-/.-%)2+3$5#I32$2+3)/$5J#
)2)/@<,3+$5#D#$%3:)2,$/3$5#$H$/)+)2#5$,-/$($5#()#)=H%3+$+372)5#5-H)/I3+3$%)5#$+)/+$#()#
0!$$&$!'.# @)/)2+3$%)5#7#()#H7%N,3+$5#HT.%3+$5F#8#4)+)5#5)#)5,$.%)+)2#4N2+-%75#)2,/)#)%%$5J#
H7/#)B):H%7#%$#)5H)+-%$+392#I32$2+3)/$#+7:7#+$-5$#()#%$#32)5,$.3%3($(#()#%75#H/)+375#()%#
H),/9%)7#7#()#+3)/,75#H/7(-+,75#$@/N+7%$5#7#.3)2#%$#/)%$+392#)2,/)#+75,75#)2)/@<,3+75#D#
H/)+375#()#%75#$%3:)2,75J#H)/7#)5$5#32,)/$++372)5#M-)($2#/)(-+3($5#$#B-)@75#()#+7/,7#
H%$O7#7#$#+3)/,$5#,)2()2+3$5##!$2!$')'#()#:)(3$27#H%$O7F#G$#32+)/,3(-:./)#)5#)2+-.3)/,$#
+72#)=H%3+$+372)5#$2)+(9,3+$5#+$53#53):H/)#@3/$2(7#)2#,7/27#()#%75#+$:.375#()#E-:7/#)2#
%75 # %%$:$(75 # R324)/57/)5`J # H7/ # 5- # H$/,) # %$5 # $-,7/3($()5 # )+729:3+$5 # () # %75 # H$N5)5#
+)2,/$%)5#7#()#%75#7/@$235:75#32,)/2$+372$%)5#M-)#%75#/)H/)5)2,$2#KaUbPJ#c;QF#A$2+7#
;-2(3$%J # ),+FL # 27 # +)5$2 # () # E$+)/ # ()+%$/$+372)5 # +72,/$(3+,7/3$5J # -2 # (N$ # $2-2+3$2 # %75#
H)%3@/75 # () # -2$ # /)+)5392 # 32I%$+372$/3$J # 7,/7 # (N$ # $%)/,$2 # $+)/+$ # () # %$5 # $:)2$O$5 # ()#
/)+)5392#()I%$+372$/3$J#H7/#%$#:$V$2$#$5)@-/$2#M-)#%$#+/3535#5)/S#H/72,7#5-H)/$($#D#H7/#%$#
,$/()#()+%$/$2#M-)#)%#)2I/3$:3)2,7#)+729:3+7#H-)()#5)/#()#%$/@$#(-/$+392F#d7(7#$%#/3,:7#
()#%75#:743:3)2,75#)//S,3+75#()#.7%5$5#D#H/)+375#D#()#%$5#+7//3($5#3:H/)()+3.%)5#()#%75#
)5H)+-%$(7/)5#:$23H-%$2(7#:$5$5#()#I72(75#+-D7#47%-:)2#%$5#E$+)#32@7.)/2$.%)5F#63#
%75#)5H)+-%$(7/)5#23#%$5#$-,7/3($()5#)2,3)2()2#/)$%:)2,)#%7#M-)#)5,S#7+-//3)2(7J#5)#%)5#
E$ # 4)23(7 # )2+3:$ # -2$ # $4$%$2+E$ # () # ()5$5,/)5 # D # +$($ # -27 # ,/$,$ # () # 57./)4343/ # +72 # )%#
325,/-:)2,$%#(35H723.%)F###
?-2,7# $#)5$5# +/3535# 5)#E$+)#H/)5)2,) #%$# () #%75#P5,$(75# 123(75#K)2#,$2,7 #+)2,/7J#H3%$/#
()+35347#()%#535,):$#@%7.$%L#$#:)2-(7#57%7#:75,/$($#()5()#5-#)5H)+3I3+3($( #04)-/&4),.J#
H7/#)B):H%7*+7:7#/)5-%,$(7*()#H7%N,3+$5#3//$+372$%)5#KH7/#%7#@)2)/$%#$!2!$'/7,!'L#3:H-)5,$5#
H7/#+3)/,75#@/-H75#()#H7()/W#5-#5-.7/(32$+392#)5,/$,<@3+$#$#%$#(32S:3+$#:$5#$:H%3$#()%#
535,):$#@%7.$%#5-)%)#5)/#3@27/$($#7#5-.)5,3:$($F###
12$#()#5-5#+7:H72)2,)5#H/32+3H$%)5#)5#%$#+/3535#()%#U7:H%)B7>;3%3,$/>Q2(-5,/3$%#$#:)2-(7#
$,/3.-3($#$#5-5#R!$$&$!'. *)2#Q/$e#D#8I@$235,S2#)2(75$(75#$#5-#4)O#$%#$4)2,-/)/35:7#()#
_)7/@)#fF#A-5E#D#5-5#E$%+72)5F#G$#E3H9,)535#()#M-)#%$#:35:$#H7(/N$#)5,$/#)=H/)5$2(7#%$#
+/3535 # ()% # :3%3,$/35:7 # .-/@-<5 # KI)29:)27 # )2@)2(/$(7 # H7/ # %$ # )47%-+392 # ()% # +$H3,$%35:7#
:-2(3$%L#D#5-#H/7.$.%)#32@/)57#)2#I$5)#,)/:32$%J#()#()+$()2+3$J#27#)5#,):$#()#().$,)F#####
Q@-$% # 5-)/,) # +7//) # %$ # +/3535 # ()% # P5,$(7 # 3:H)/3$%J # $+7//$%$($ # )2 # 5- # )5H)+3I3+3($(J#
5-.)5,3:$($J # ()5+72)+,$($ # () # I)29:)275 # H$/$%)%75 # )2 # -2 # $:H%37 # $.$23+7 # () # H$N5)5#
+)2,/$%)5#D#H)/3I</3+75#D#()#%$#E35,7/3$#-234)/5$%#()%#+$H3,$%35:7J#)2#)5H)+3$%#)%#+3+%7#()%#
)5,$,35:7#323+3$(7#E$+3$#I32)5#()%#53@%7#gQgF####
\7/#7,/$#H$/,)#%$#/)I%)=392#$+)/+$#()#%$#-$/'/'8+!*,)*%!-4&,&1()J#)5#()+3/#()#%$#+-%,-/$#,<+23+$#
:7()/2$ # K32+%-3($ # %$ # H)/5H)+,34$ # () # 5- # $@7,$:3)2,7 # E35,9/3+7LJ # )5,S # H7/ # %7 # @)2)/$%#
$-5)2,)F # P% #0&#%/5/'5& * %!-4&,&1/'%).# H/)5)/4$ # -2 # H/)(3+$:)2,7 # $H%$5,$2,)J # 2-)5,/7#
535,):$ # ,)+27%9@3+7 # )5 # 435-$%3O$(7 # +7:7 # -2$ # +7:H%)B$ # :$/$V$ # () # 325,/-:)2,75J # ()#
+727+3:3)2,75 # :-D # I%)=3.%)5J # +-D$ # (32S:3+$ # $-2M-) # 32I%-3($ # H7/ # )% # H7()/ # H7%N,3+7J#
)+729:3+7 # 7 # +3-($($27 # 43@)2,) # KD # )2 # +725)+-)2+3$ # /)%$,34$:)2,) # :$23H-%$.%)L#
/)5H72()/N$#)2#-%,3:$#325,$2+3$#$%#:743:3)2,7#:S5#@)2)/$%J#57./),)/:32$2,)J#()%#%%$:$(7#
#$&1$!'&*965)4&J#()5()#%$#)($(#()#H3)(/$#E$5,$#)%#53@%7#ggQF#####
P2#I32J#%$#+/3535#$:.3)2,$%#5-)%)#5)/#$,/3.-3($#$#+7:H7/,$:3)2,75#3//$+372$%)5#:7(3I3+$.%)5#
$#H$/,3/#()#%$#32,)/4)2+392#+3-($($2$F#X-)($#$5N#3:H-)5,7#-2#0+!7)%!*:4/-&.#)2#,7/27#()#
),%!$4)%/2)'# H/)5)2,$($5#+7:7#H753.%)5J#H753,34$5J#+725,/-+,34$5J#/)$%35,$5J#),+FJ#$%)B$($5#
()%#+$,$5,/7I35:7J#()%#H)53:35:7#D#7,/$5#H)/4)/5372)5#H/$+,3+$($5#H7/#%75#H/7I),$5#()%#I32#
()%#:-2(7F#b)#)5)#:7(7#)5#()5H%)@$($#-2$#:)@$#7H)/$+392#()#+)25-/$#3()7%9@3+$J#()#

!
.%7M-)7#()#%$#/$O92J#()%#)5I-)/O7#H7/#+72)+,$/#%$#+$,S5,/7I)#$:.3)2,$%#+72#%$#%9@3+$#()#%$#
+343%3O$+392#K.-/@-)5$L#M-)#%$#57./)#(),)/:32$F###
]$+$/#$#%$#%-O#)#32,)@/$/#)5,$5#D#7,/$5#R+/3535`#)2#-2$#435392#@)2)/$%#+725,3,-D)#-2$#,$/)$#
)=,/):$($:)2,) # (3IN+3%J # H)/7 # (/$:S,3+$:)2,) # 2)+)5$/3$J # -/@)2,)F # G$ # $+)%)/$+392 # D#
)=H$25392#()%#()57/()2#@%7.$%#275#3:H72)#%$#2)+)53($(#()#4)/#:S5#$%%S#()#%$#5-H)/I3+3)#D#
()#%75#$5H)+,75#H$/+3$%)5J#T23+$#:$2)/$#()#+7:H/)2()/#)%#:-2(7#M-)#4343:75F########
########
8%,#,#&-,/*/+,(%*

G$#+/3535#I32$2+3)/$#().)#5)/#)2,)2(3($#+7:7#)=H/)5392#()#%$#E3H)/,/7I3$#()#%$5#$+,343($()5#
)5H)+-%$,34$5J # )5 # 2)+)5$/37 # 3/ # :S5 # $%%S # () # %$ # 5-+)5392 # () # .-/.-B$5 # M-) # 5) # ()5$//7%%9#
()5()#:)(3$(75#()#%75#$V75#'""*#E$5,$#%$#$+,-$%3($(#K.-/.-B$5#.-/5S,3%)5J#32:7.3%3$/3$5L#D#
$.$/+$/#%$5#+-$,/7#T%,3:$5#(<+$($5#(-/$2,)#%$#+-$%#-2$#-$/'/'*-$34/-)*+!*'&7$!#$&+6--/34 *
+!*-)$;-%!$*1,&7),# K+-D7#323+37#H7(/N$#5)/#)5,$.%)+3(7#)2#'"h0>'"Y&L#I-)#$%3:)2,$2(7#$%#
@%7.7#)5H)+-%$,347#M-)#$#5-#4)O#/)I7/O9#%$#)2I)/:)($(#()%#535,):$#)+729:3+7F#G$#+/3535#
() # %75 # H$N5)5 # +)2,/$%)5 # H-(7 # 5)/ # $:7/,3@-$($J # H75,)/@$($J # @/$+3$5 # $ # -2 # +7:H%)B7#
:)+$235:7 # () # ()5$//7%%7 # :-2(3$% # () # 2)@7+375 # I32$2+3)/75 # H)/7 # (3+E$ # ##&'%!$1)-/34*
#$&,&41)+)# ,)/:329 # H7/ # )2@)2(/$/ # -27 # () # %75 # I$+,7/)5 # ()+353475 # () # %$ # +/3535 # ,7,$% # ()%#
535,):$#KM-)#$E7/$#)5,$:75#):H)O$2(7#$#/)+7//)/LF#G$#H/75H)/3($(#()#%$#H75,#@-)//$#
,)/:329#)2#'"Y&>Yi#+72#)% #5E7+e# H),/7%)/7#M-)#)2+72,/9#$#-2$#)+727:N$#:-2(3$%#:-D#
I/S@3%#().3(7#$#%$#5-:$#()#E)+E75#2)@$,3475#M-)#%7#H/)+)(3)/72#+7:7#%75#()57/()2)5#
:72),$/375J # %$ # +$N($ # )2 # %$ # /)2,$.3%3($( # ):H/)5$/3$J # %$ # ()5$+)%)/$+392 # ()% # +3/+-3,7 # ()#
)2()-($:3)2,7#D#+725-:7#H/34$(75J#)%#32+/):)2,7#()#%$#+$H$+3($(#H/7(-+,34$ #7+375$F#
U72#)%#,)%92#()#I72(7#()#-2$#+/3535#()#57./)H/7(-++392#%$5#)+727:N$5#32(-5,/3$%3O$($5#
32@/)5$/72#)2#%$#%%$:$($#0!'%)4<,)-/34.J#%75#H/)+375#5-.N$2#$%#3@-$%#M-)#%$#()57+-H$+392#D#
%75 # $H$/$,75 # H/7(-+,3475 # 5) # )5,$2+$.$2F #9 & 1*%$,% & '( & *)): & )* & $*#* & '( & +%(+,;,(/$"&
(+"/4;,+"&;5/',*)&-5(&+*<(/'"&$(/'(/+,*);(/$(=&()&-(/4;(/"&1(%#,#$,4&>*#$*&)*&
*+$5*),'*'&K4)/#)%#@/SI3+7#'LF#
##

&
P5,7#5)#,/$(-B7#)2#$%,75#234)%)5#()#()57+-H$+392#D#H/)+$/3O$+392#%$.7/$%#$@/$4$(75#H7/#%$#
@-)//$#,)+27%9@3+$#)2,/)#%$5#):H/)5$5#M-)#.-5+$.$2#H/)5)/4$/#7#+72M-35,$/#:)/+$(75#
+$($#4)O#:$5#(-/75F#P2#+725)+-)2+3$#5)#I-)#3:H723)2(7#-2$#,)2()2+3$#H)5$($J#()#%$/@$#
(-/$+392#()#()5$+)%)/$+392#()#%$#():$2($#()#%$5#2$+372)5#/3+$5J#)2#%75#H$N5)5#()#%$#
aUbP#%$#,$5$#()#+/)+3:3)2,7#/)$%#H/7:)(37#()%#+725-:7#H/34$(7#I32$%#E$.N$#%%)@$(7#$%#
ZJ'[#)2#)%#H)/N7(7#'"h'>Y&#H)/7#()5+)2(39#$%##&J'[#)2#'"Yi>Y"J#$%#!JY#[#)2#'"0*>0"#D#$%#
!J&#[#)2#'""*>""#K'LF#G7#M-)#$#5-#4)O#I/)29#%$#)=H$25392#H/7(-+,34$#+7243/,3)2(7#$#%$#
57./)H/7(-++392#/)$%#7#H7,)2+3$%#()5$,$($#()5()#+7:3)2O75#()#%75#'"Y*#)2#-2#I)29:)27#
+/923+7#M-)#H)/535,39#)2#)%#%$/@7#H%$O7F
G$#()5$+)%)/$+392#)+729:3+$#+$-59#(<I3+3,5#I35+$%)5F#12#$+E3+$:3)2,7#()%#@$5,7#HT.%3+7#7#
-2$ # :$D7/ # H/)5392 # ,/3.-,$/3$ # E$./N$2 # ,)23(7 # )I)+,75 # /)+)53475J # H7/ # 7,/$ # H$/,) # )=35,N$2#
)=+)()2,)5#I32$2+3)/75#()#):H/)5$5#D#.$2+75#KH),/7(9%$/)5J#),+FL#+72#5)/3$5#(3I3+-%,$()5#
H$/$#+724)/,3/5)#)2#324)/5372)5#H/7(-+,34$5#().3(7#$#%$#53,-$+392#()#)5,$2+$:3)2,7F
G$#57%-+392#$%#H/7.%):$#I-)#)2+72,/$($#H7/#:)(37#()%#+/)+3:3)2,7#()#%$#()-($#HT.%3+$J#()#
)5) # :7(7 # )% # )2()-($:3)2,7 # () # %75 # H$N5)5 # /3+75 # ()5() # %75 # '"0* # 5-+)(39 # $%#
)2()-($:3)2,7#()#H$N5)5#H7./)5#()%#5)@-2(7#%-5,/7#()#%75#'"Y*F
P5,7#5)#437#I$+3%3,$(7#H7/#%$#%3.)/$%3O$+392#I32$2+3)/$#D#+$:.3$/3$#M-)#)2#)5$#<H7+$#):H-B9#
E$+3$#$//3.$#%$5#,$5$5#/)$%)5#()#32,)/<5#D#),)/23O9#%$#32)5,$.3%3($(#()#%$5#H$/3($()5#)2,/)#
%$5 # :72)($5 # I-)/,)5F # G75 # )5,$(75 # 2)+)53,$.$2 # I72(75 # KH$/$ # 575,)2)/ # %$5 # ():$2($5#
32,)/2$5#$#,/$4<5# #()#H$@75#()#H)25372)5J#5-.53(375#$#()5):H%)$(75J#@$5,75#:3%3,$/)5J#
),+FL#M-)#()5.7/($.$2#%$5#(35H723.3%3($()5#:72),$/3$5#%7+$%)5J#)2,72+)5#$+-(3)/72#$#%75#
324)/57/)5#32,)/2$+372$%)5#%7#M-)#%)5#7.%3@9#$#)%3:32$/#%$5#,/$.$5#$#%$#%3./)#+3/+-%$+392#()#
:72)($5J#$#%$#+7:H/$>4)2,$#()#,N,-%75#HT.%3+75#D#H/34$(75#D#$%#()5$//7%%7#()#2)@7+375#
I32$2+3)/75F#G$#I32$2+3)/3O$+392#):H/)5$/3$#+7:H%),9#)%#+N/+-%7W#%$5#):H/)5$5#+7%7+$.$2#
I72(75#)2#,N,-%75#HT.%3+75#H)/7#,$:.3<2#)2#H$H)%)5#M-)#32,)/+$:.3$.$2#)2,/)#)%%$5#7#.3)2#
):H$H)%$.$2#)%#:)/+$(7#.-/5S,3%#+72#5-5#$++372)5F
G$ # 32,)/$++392 # H)/4)/5$ # () # ,/)5 # I)29:)275^ #8"1&,"-"'&,$2% ) 8"- ) ,'",$#$"%+( )
",(%2#$,(J #,'",$#$"%+()8"-)"%8"98&#$"%+()0:;-$,(# D #<$%&%,$"'$=&,$2%)"#0'"1&'$&J#
@)2)/9 # -2 # :725,/-7 # M-) # +/)+39 # 532 # +)5$/ # E$5,$ # +724)/,3/5) # )2 #>$0"'+'(<$& ) <$%&%,$"'&)
3-(;&-#$%3:)2,$($#H7/#,$5$5#()#32,)/<5#/)%$,34$:)2,)#$%,$5#M-)#()5$+)%)/$.$2#%$#324)/5392#
D#%$#():$2($F
j$+3$#+7:3)2O75#()#%75#'""*#%75#)2()-($:3)2,75#)5,$,$%)5#+7:)2O$/72#$#5)/#H)/+3.3(75#
2)@$,34$:)2,)#H7/#%7#@7.3)/275#+)2,/$%)5#D#%75#@/$2()5#@/-H75#)+729:3+75#K)%#5$%4$43($5#
%3.)/$% # 5) # E$+3$ # +$($ # 4)O # :$5 # H)5$(7 # $:)2$O$2(7 # +72 # E-2(3/ # $ # %$5 # )+727:N$5#
()5$//7%%$($5LF # \7/ # 7,/$ # H$/,) # %75 # )=+)()2,)5 # $+-:-%$(75 # H7/ # )% # 535,):$ # I32$2+3)/7#
:-2(3$%#/)M-)/N$2#2-)4$5#S/)$5#()#)=H$25392#M-)#%)5#H)/:3,3)/$2#H/)5)/4$/#5-5#234)%)5#
() # /)2,$.3%3($(J # (34)/575 # :)+$235:75 # $(3+372$%)5 # H753.3%3,$/72 # )% # 575,)23:3)2,7 # () # 5-#
/)H/7(-++392#$:H%3$($F
G$#32@)23)/N$#I32$2+3)/$#$+)%)/9#)5)#()5$//7%%7J#I72(75#()#H)25392#D#()#324)/5392J#.$2+75#
D#):H/)5$5#)2+72,/$/72#)2#%$#/)47%-+392#32I7/:S,3+$#)%#$,$B7#,)+27%9@3+7#M-)#%)5#H)/:3,39#
+/)$/#R0'(89,+(1)<$%&%,$"'(1)8"'$?&8(16)()#$%,$#+7:H%)B3($()K4)/#)%#@/SI3+7#'LJ#$/,3+-%$/#
-2$ # /)( # .-/5S,3% # D # +$:.3$/3$ # 32,)/2$+372$% # :-D# (32S:3+$ # D# 7,/$5 # 32274$+372)5# M-) # %75#
:)(375#()#+7:-23+$+392#H32,$.$2#+7:7#%$5#+$.)+)/$5#()#H%$D$#()%#2-)47#+$H3,$%35:7#
H%$2),$/37#,/3-2I$2,)F#P575#2)@7+375#$,/$H$/72#,$:.3<2#$#I$:3%3$5#D#H)M-)V75#$E7//35,$5#
M-)#5)#32+7/H7/$.$2#()#:$2)/$#(3/)+,$#7#32(3/)+,$J#H/32+3H$%:)2,)#)2#%75#P5,$(75#123(75J#
$#%$#)-I7/3$#()#%$5#)%3,)5F#])#32I%$/72#4$%7/)5#()#$++372)5#D#7,/75#$+,3475#)5H)+-%$,3475J#
$-:)2,9#%$#:$5$#I32$2+3)/$#@%7.$%F
\7/ # 7,/$ # H$/,) # 5) # $+)2,-9 # D # @)2)/$%3O9 # )% # # %%$:$(7 # I)29:)27 # () # %$5 #.",(%(#@&1 )
"#"'3"%+"16J#E$+3$#$%%N#I-)/72#I%-B75#:72),$/375#M-)#$(M-3/3)/72#)#325,$%$/72#):H/)5$5J#
+7:H/$/72 # H$H)%)5 # HT.%3+75 # D # H/34$(75J # ,7(7 # )%%7 # )2 # -2$ # %9@3+$ # () # .)2)I3+375 # $%,75 # D#

i
/SH3(75#M-)#)=H$2(3)/72#$-2#:S5#%$#:$/)$#I32$2+3)/$F#P%#()5:$2,)%$:3)2,7#()#%$#1k]]#D#
7,/75#H$N5)5#()%#)5,)#)-/7H)7#@)2)/9#)2#%75#$V75#'""*#-2$#@/$2#)4$5392#()#+$H3,$%)5#
E$+3$#%$5#)+727:N$5#+)2,/$%)5#/)I7/O$2(7#(3+E7#H/7+)57F
G7#M-)#I-)#H/)5)2,$(7#+7:7#%$#32+7/H7/$+392#()#H$N5)5#5-.()5$//7%%$(75#D#)=>57+3$%35,$5#
$% # 535,):$ # @%7.$% # () # :)/+$(7J # $ # %$5 # 4)2,$B$5 # ()% # \/3:)/ # ;-2(7J # 27 # I-) # 5327 # %$#
3:H%$2,$+392#()#535,):$5#()#()H/)($+392#M-)#()5$/,3+-%$/72#$T2#:S5#$#)5$5#)+727:N$5F#
P2#+3)/,75#+$575#H/)5)2,$(75#+7:7 #0!"/%&'&'.# K+7:7#%75#()#A/$53%J#Q2(3$J#UE32$#D#7,/75#
H$N5)5 # () #853$L # I-)/72 # 325,$%$(75 # 7 # /)I7/O$(75 # :)+$235:75 # () # 5-H)/)=H%7,$+392 # ()#
,/$.$B$(7/)5#Dl7#/)+-/575#2$,-/$%)5#$%#5)/43+37#()%#+725-:7#D#%$#H/7(-++392#()#%75#H$N5)5#
+)2,/$%)5#K4N$#:$,)/3$5#H/3:$5#7#H/7(-+,75#32(-5,/3$%)5#.$/$,75LF####
c32$%:)2,)#5)#()5$//7%%9#-2#I)29:)27#)2#5-5#+7:3)2O75#:$/@32$%#H)/7#M-)#%-)@7#5)#I-)#
325,$%$2(7 # )2 # )% # +7/$O92 # () # %$ # )+727:N$ # 32,)/2$+372$%^ # )% # )5H$+37 # () # %75 #/(6"+,"#&
,)(6*)(#J#4353.%)5J#()5):.7O$(75#)2#%$#H)/3I)/3$J#(35+/),75#)2#)%#+)2,/7#K(72()#/)53()2#5-5#
B)I$,-/$5#)5,/$,<@3+$5LF#P5,75#2)@7+375#()#:-D#$%,$#/)2,$.3%3($(#5)#)=H$2(3)/72#+7:7#-2$#
:$2+E$#()#$+)3,)#+-./3)2(7#()#S/)$5#:$I375$5#$%#535,):$#@%7.$%F#d/SI3+7#()#(/7@$5#D#
$/:$5J#H/75,3,-+392J#@7%H)5#()#:$27#57./)#H$,/3:72375#HT.%3+75#H)/3I</3+75J#),+FJ#I7/B$/72#
-2$ # :$5$ # () # 2)@7+375 # M-) # H7/ # 5- # 47%-:)2 # D # (32$:35:7 # H$59 # $ # +725,3,-3/ # -2 # I$+,7/#
()+35347#()#%$#/)H/7(-++392#()#%$#)+727:N$#:-2(3$%F
G$#+/3535#$53S,3+$#()#'""Y#$H$/)+39#)2#5-#:7:)2,7#+7:7#-2$#+$,S5,/7I)#I32$2+3)/$#()#%$#
H)/3I)/3$#):)/@)2,)J#532#):.$/@7#().)/N$#5)/#435,$#+7:7#-2$#+/3535#@%7.$%#+-D7#+7/$O92#5)#
)2+72,/$.$ # )2 # %75 # H$N5)5 # +)2,/$%)5 # )24-)%,75 # H7/ # %$ # ()5$+)%)/$+392 # H/7(-+,34$ # D # )%#
H$/$53,35:7 # K%$ # .-/.-B$ # )5H)+-%$,34$ # $53S,3+$ # () # $M-)%%75 # $V75 # 27 # I-) # :$5 # M-) # -2$#
)H3I)29:)27#()%#+S2+)/#I32$2+3)/7#+)2,/$%LF#\)/7#$%#323+3$/5)#%$#(<+$($#$+,-$%#)%#:7,7/#
4353.%)#()%#()57/()2#5)#H/)5)2,$#+%$/$:)2,)#)2#)%#+)2,/7#()%#:-2(7^#%75#P5,$(75#123(75#D#
%$5#7,/$5#@/$2()5#H7,)2+3$5F#
G$#H/7I-2(3O$+392#()#%$#+/3535#275#H)/:3,)#4)/#:$5#$%%S#()#%75#B-)@75#+72+)H,-$%)5#M-)#
I$./3+$.$2 # -234)/575 # )+729:3+75 # R:72),$/375` # D # R43/,-$%)5` # ()5H)@$(75 # () # %$ # %%$:$($#
R)+727:N$ # /)$%`F # G$5 # 32,)//)%$+372)5 # +72+/),$5 # )2,/) # %75 # I)29:)275 # ()5+/3H,75#
():-)5,/$2 # )% # +$/S+,)/ # 3%-57/37 # () # %$5 # I/72,)/$5 # )2,/) # )5$5 # 5-H-)5,$5 # )5I)/$5#
(3I)/)2+3$($5J#27#5)#,/$,$#5327#()#-2$#57%$#/)$%3($(J#)5,/-+,-/$%J#:$,)/3$%J#57+3$%#(72()#%$#
H/7(-++392#()#.3)2)5J#5-#32,)/+$:.37J#%75#:)(375#:72),$/375J#)%#):H%)7J#H)/7#,$:.3<2#%$#
H7%N,3+$J#)%#P5,$(7J#%$#,)+27%7@N$J#),+FJ#+72I7/:$2#-2#T23+7#535,):$#$#%$#()/34$F####

8% # +7:)2O$/ # )% # 53@%7 # ggQ # )% # ()5.7/() # I32$2+3)/7 # H/747+$ # ,-/.-%)2+3$5 # () # @/$4)($(#

+/)+3)2,)#)2#%75#H$N5)5#+)2,/$%)5J#5-5#:)+$235:75#()#)=H7/,$+392#()#%$#+/3535#KE$+3$#%$#
H)/3I)/3$L # D # () # +72,/7% # 32,)/27 # () # %$ # :$/)$ # )5H)+-%$,34$ # ()43)2)2 # 325-I3+3)2,)5 # $2,) # )%#
47%-:)2#$%+$2O$(7#H7/#)575#2)@7+375F#G75#H/7(-+,75#I32$2+3)/75#()/34$(75#/)@35,/$(75#
H7/#)%#A$2+7#()#A$53%3$##)2#)%#$V7#!***#)M-34$%N$2#$#+)/+$#()#(75#4)+)5#)%#\/7(-+,7#A/-,7#
;-2(3$%#()#)5)#:7:)2,7J#$#:)(3$(75#()#!**0#%75#()/34$(75#/)@35,/$(75#K$%@7#:S5#()#
h**#:3%%72)5#()#:3%%72)5#()#(9%$/)5L#)M-34$%)2#$#$%@7#:S5#()#(3)O#4)+)5#)%#$+,-$%#\A;F#
]3#$#)5)#47%-:)2#%)#5-:$:75#%75#7,/75#2)@7+375#)5H)+-%$,3475#)2#($2O$#%%)@$/N$:75#$#
-275#:3%#:3%%72)5#()#:3%%72)5#()#(9%$/)5J#$H/7=3:$($:)2,)#-2$5#'0#4)+)5#)%#\A;J#M-)#
$%@-275 # $-,7/)5 # +$%3I3+$2 # +7:7 # )% #05!1) * )16=!$& * 4!1$& * </4)4-/!$& * +! * ,) * !-&4&5() *
564+/),.F # \)/7 # %$ # :$/)$ # H$/$53,$/3$ # 27 # H7(N$ # )=H$2(3/5) # 32()I323($:)2,)J # ,$/() # 7#
,):H/$27#,)2N$#M-)#+7%$H5$/#D#+7:7#)5#%9@3+7#)%#H-2,$H3<#323+3$%#I-)#($(7#)2#)%#+)2,/7#()%#
+)2,/7#()%#:-2(7W#%75#P5,$(75#123(75F
b75#7.5)/4$+372)5#()#+$/S+,)/#@)2)/$%#572#2)+)5$/3$5F#
P2#H/3:)/#%-@$/#+725,$,):75#M-)#%$#57./)4$%7/3O$+392#()#$+,3475#I32$2+3)/75#27#E$#53(7#
7,/$ # +75$ # M-) # -2 # :)+$235:7 # () # +72+)2,/$+392 # :-2(3$% # () # 32@/)575 # D # () # 5$M-)7#
K()5$/,3+-%$(7/L # )+729:3+7 # M-) # $:H%3$.$ # +$($ # 4)O # :$5 # %$ # ./)+E$ # )2,/) # %75 # $H$/$,75#

Z
H/7(-+,3475#K@%7.$%3O$(75L#(7:32$(75#H7/#%$#%9@3+$#()%#H$/$53,35:7#)5H)+-%$,347#D#:$5$5#
+/)+3)2,)5#()#H7./)5#D#)=+%-3(75#KH/32+3H$%:)2,)J#H)/7#27#57%$:)2,)J#)2#%$#H)/3I)/3$LF#G$#
57./)H/7(-++392 # +/923+$ # 5) # $-,7$%3:)2,$.$ # +72 # 5- # H/7H37 # 4)2)27 # :$/@32$%3O$(7/>
+72+)2,/$(7/>I32$2+3)/7F
P2#5)@-2(7#,</:327#,)2):75#M-)#4)/#$%#:743:3)2,7#()#I32$2+3)/3O$+372#()#%$5#T%,3:$5#
+-$,/7 # (<+$($5 # +7:7 # ),$H$ # 5-H)/37/J # I32$%J # ()% # H/7+)57 # () # )=H$25392 # I32$2+3)/$ # ()%#
+$H3,$%35:7#323+3$(7#E$+3$#I32)5#()%#53@%7#gQgJ#)4$%-$(7#H7/#%75#,)=,75#+<%)./)5#()#G)232J#
j3%I)/(32@J#A-B$/32#D#7,/75#$-,7/)5F#]7./)#,7(7#)5#2)+)5$/37#,7:$/#)2#+7253()/$+392#%$5#
/)I)/)2+3$5 # () # G)232 # $+)/+$ # ()% # +$/S+,)/ #8",&8"%+"# ()% # I)29:)27 # K!L # D # () # A-B$/32#
/)5H)+,7#()#%$#I7/:$+392#()#-2$#+%$5)#+$H3,$%35,$#H$/$53,$/3$J#+$($#4)O#:$5#$%)B$($#()#%$#
+-%,-/$#H/7(-+,34$#K&LF##
\7(/N$:75 # (3I)/)2+3$/ # K-,3%3O$2(7 # %$ # +72+)H,-$%3O$+392 # @/$:5+3$2$L # -2$ # H/3:)/$ # ),$H$#
K()5() # I32)5 #()% #53@%7 #Qgg # E$5,$ # I32)5 # () #%75#$V75# '"h*L #() #.8(#$%&,$2%6# I32$2+3)/$#
(72()#)575#2)@7+375#+72,/7%$.$2#+/)+3)2,):)2,)#)%#+7/$O92#()%#535,):$#H)/7#%7#E$+N$2#
.$B7#)%#(35I/$O#+-%,-/$%#()%#H/7(-+,3435:7#32(-5,/3$%F#G)#53@-39#-2$#5)@-2($#),$H$#K323+3$($#
)2 # %75 # $V75 # '"Y*L # () #.>"3"#(%@&6 )I32$2+3)/$ # (72() # )% # +S2+)/ # H$/$53,$/37 # +72,/7%$#
32,)@/$%:)2,) # $% # 535,):$J # $//7B$ # $ # -2 # +75,$(7 # %75 # (35+-/575 # H/7(-+,3435,$5 # M-) # $T2#
57./)434N$2#D#+7243)/,)#5-#)5,3%7#()#43($#)2#)%#+)2,/7#()#%$#+-%,-/$#-234)/5$%F
d$%#4)O#().$:75#)5,$.%)+)/#-2$#,)/+)/$#),$H$J#:$/+$($#H7/#-2$#5-)/,)#()#H$/$53,35:7#
()+$()2,)J # 3//-:H3)2(7 # )2 # %$ # H/3:)/$ # (<+$($ # ()% # 53@%7 # ggQJ # +$/$+,)/3O$($ # H7/ # %$#
5$,-/$+392#I32$2+3)/$#()#%$#)+727:N$#:-2(3$%#):H-B$2(7#E$+3$#)%#+7%$H57#()%#535,):$#
(72() # ):)/@)2 # (32S:3+$5 # () # $-,7()5,/-++392 # ()% # +$H3,$%35:7 # H)/7 # ,$:.3<2 # ()#
/)+7:H753+392 # 5$%4$B)J # () # .$/.$/3)J # /))(3+392 # $+,-$%3O$($ # D # $ # )5+$%$ # $:H%3$($ # () # %$#
,)2,$,34$#E3,%)/3$2$#K53#$(7H,$:75#)5$#E3H9,)535#A-5E#D#5-5#E$%+72)5##5)/N$2#%75#H372)/75#
()#%$#2-)4$#)/$LF########

?*#&+%,#,#&(/(%6@$,+*&<&*),;(/$*%,*

j$.3<2(75) # +-:H%3(7 # )% # H/7295,3+7 # I7/:-%$(7 # H7/ # m32@ # j-..)/, # )2 # '"Zh # $+)/+$ # ()%#
:7:)2,7# () #:S=3:7 #234)%# () #%$#H/7(-++392#H),/7%)/$ #27/,)$:)/3+$2$J#M-) #+7:7# <% #%7#
$2-2+39#+7:)2O9#$#()+$)/#()5()#+7:3)2O75#()#%75#$V75#'"Y*J#H$/)+)2#$E7/$#+-:H%3/5)#
K-,3%3O$2(7 # %$ #:35:$ # :),7(7%7@N$L #%75# H/7295,3+75# :S5# H)53:35,$5 # /)I)/3(75# $% # :S=3:7#
234)%#()#%$#H/7(-++392#H),/7%)/$#:-2(3$%#M-)#I3B$.$2#%$#%%)@$($#()%#,)+E7#H$/$#$2,)5#()%#I32#
()#%$#(<+$($#$+,-$%F#b)5()#E$+)#$%@7#:S5#()#(75#$V75#D#:)(37#%$#+-/4$#()#)=,/$++392#
,3)2()#$#$H%$2$/5)#()2,/7#()#-2$#I/$2B$#M-)#75+3%$#)2,/)#%75#0i#:3%%72)5#D#%75#00#:3%%72)5#
()#.$//3%)5#(3$/375J#,$%#4)O#/7:H$#)5)#,)+E7#H)/7#%7#E$/N$#:-D#H/7.$.%):)2,)#I7/O$2(7#%$#
+$H$+3($(#H/7(-+,34$#/$+372$%#)2#S/)$5#+%$4)5#()%#535,):$# #32,)/2$+372$%#()#)=H%7,$+392#
()% # /)+-/57 # D # 532 # +725)@-3/ # :7(3I3+$/ # %$ # ,)2()2+3$ # E$+3$ # )% # )5,$2+$:3)2,7F # nP2 # M-)#
:7:)2,7 # %$ # $+,-$% # )47%-+392 # H/7(-+,34$ # %)4):)2,) # $5+)2()2,) # 5) # +724)/,3/S # )2#
()+%32$+392oJ # ,7(7 # H$/)+) # 32(3+$/ # M-) # %$ # (-/$+392 # ()% # )5,$2+$:3)2,7 # )5 # (3/)+,$:)2,)#
H/7H7/+372$% # $ # %$ # I-,-/$ # ,$5$ # $2-$% # () # ()+%32$+392F # ]3 # %$ # H/)5392 # () # %75 # @/$2()5#
+725-:3(7/)5#@%7.$%)5#+7253@-)#57:),)/#$#%75#H/32+3H$%)5#H/7(-+,7/)5#K;)(37#a/3)2,)J#
U-)2+$#()%#;$/#U$5H37J#k-53$J#),+FL#7.%3@S2(7%)5#$#5TH)/#)=H%7,$/#5-5#D$+3:3)2,75W#,$/()#
7#,):H/$27#H7(/N$2#H/7(-+3/5)#+7%$H575#H/7(-+,3475#3:H7/,$2,)5#)2#$%@-275#()#)%%75F###
G$#/)+)5392#32,)/2$+372$%#)2#%$#M-)#)5,$:75#32@/)5$2(7#$2-2+3$#%$#()5$+)%)/$+392#()%#
+725-:7#H),/7%)/7#32+%-57#5-#()5+)257J#)%%7#().3%3,$#%$#5-.$#()%#H/)+37#E$+3<2(7%7#.$B$/#
)2#+3)/,75#H)/N7(75J#,)2()2+3$ #/)I7/O$($#H7/ #)% #/)H%3)@-) #() #I72(75#)5H)+-%$,3475#M-)#
$H75,$.$2#$%#$%O$#()#5-#+7,3O$+392F#]32#):.$/@7#)%##E)+E7#()#M-)#275#)2+72,/):75#)2#%$#
+3:$#)=,/$+,34$#@%7.$%#K)%#R>!)?*@/,.L#7#:-D#H/9=3:75#()#%$#:35:$#275#32(3+$#%$#)=35,)2+3$#
()#(35H$/$(7/)5#32I%$+372$/375#K(32S:3+$5#$%+35,$5#)2#)%#H/)+37#()%#H),/9%)7L#M-)#+-$2(7#%$#

h
)=,/$++392#+7:3)2+)#$#()5+)2()/#3/S2#$H$/)+3)2(7#()5()#234)%)5#+$($#4)O#:S5#.$B75#()%#
\/7(-+,7#A/-,7#;-2(3$%F#P2#5N2,)535J#%$#,)2()2+3$#()#%$/@7#H%$O7#)5#E$+3$#%$#5-.$#()%#
H/)+37 #M-) #27#,3)2)# H7/M-) #5)/# 7/()2$($J#IS+3%:)2,) #H/)4353.%)J#5327 #,7(7# %7 #+72,/$/37F#
]-+)534$5#)2,/$($5#D#/)H%3)@-)5#()#I72(75#)5H)+-%$,3475#)2#(3+E7#:)/+$(7#$,/$N(75#7#
/)H)%3(75#H7/#E)+E75#/)$%)5#7#3:$@32$/375#()#+$($#+7D-2,-/$#H/7%72@$/S2#E$+3$#)%#I-,-/7#
%$#,/$D)+,7/3$#O3@O$@-)$2,)>$5+)2()2,)#M-)#5)#43)2)#()5$//7%%$2(7#)2#%75#T%,3:75#$V75J#
H/747+$2(7#32I%$+392J#.%7M-)$2(7#)%#325,/-:)2,$%#$2,3#/)+)5347#()#%75#H$N5)5#+$H3,$%35,$5#
+)2,/$%)5F
##########

12$#2-)4$#)/$#()#+/)+3:3)2,7#)+729:3+7#H/7%72@$(7#2)+)53,$/N$#532+/723O$/#535,):S,3+75#
$E7//75 # () # )2)/@N$ # D # /)):H%$O75 # () # /)+-/575 # )2)/@<,3+75 # D # :32)/75 # )2 # @)2)/$% # 27#
/)274$.%)5#H7/#/)+-/575#/)274$.%)5#7#H7/#/)+-/575#27>/)274$.%)5#Kn+-$%)5oL#57:),3(75#$#
2-)4$5#,<+23+$5#()#)=H%7,$+392#+-D$5#R/45!4')'.# /)5)/4$5#K/)%$,34$5L#$%)B$/N$2#H$/$#-2#
I-,-/7#:-D#%)B$27#)%#,):$#()#5-#$@7,$:3)2,7#K)5,7#T%,3:7#)5#%7#M-)#7+-//39#()5()#I32)5#()%#
53@%7#gpQQQ#+72#%$#)=H%7,$+392#()%#+$/.92#:32)/$%#H/3:)/7#D#()%#H),/9%)7#:-+E7#,3):H7#
()5H-<5LF######
P%%7#/)M-)/3/N$#-2#5$%,7#32274$,347J#-2$#/-H,-/$#+$H$O#()#5-H)/$/#+$53#(75#53@%75#D#:)(37#
()#-2$#+-%,-/$#,)+27%9@3+$#:-D#()25$#.$5$($#)2#%$#)=H%7,$+392#32,)2534$#()#/)+-/575#27>
/)274$.%)5F#67#5)#(35H72) #23 #()%#:)27/ #32(3+37#5)/37 #() #M-)#)5$#7%$ #32274$(7/$ #)5,)#
$H$/)+3)2(7#23#()#M-)#H-)($#$H$/)+)/#(-/$2,)#%$#H/9=3:$#(<+$($F
G$#3//-H+392#()#%75#.37+7:.-5,3.%)5#():-)5,/$#M-)#)I)+,34$:)2,)#)5$#7%$#27#)=35,)F#]-#
)=H$25392J # 32+%-57 # %$ # :S5 # 75$($J # 27 # +7253@-) # 5-H)/$/ # %$ # H)2-/3$ # )2)/@<,3+$ # D # )%#
$+$H$/$:3)2,7#()#,3)//$5#I</,3%)5#D#H/7(-+,75#$@/N+7%$5#+72#I32)5#)2)/@<,3+75#/)(-+)#%$#
7I)/,$#$%3:)2,$/3$J#,/$)#E$:./)#)#32I%$+392F
G$#-,3%3O$+392#$#@/$2#)5+$%$#()#)2)/@N$#2-+%)$/J#$():S5##()#H%$2,)$/#@/$4)5#H/7.%):$5#()#
5)@-/3($(J#)2I/)2,$/N$#-2#/SH3(7#$@7,$:3)2,7#()#%$5#/)5)/4$5#()#-/$237J#H7/#5-#H$/,)#%$#
)=H$25392#()%#):H%)7#()%#+$/.92#)2I/)2,$#H/7.%):$5#()#+75,75#()#/)+724)/5392J#()#:-D#
(3IN+3%)5#$($H,$+372)5#,)+27%9@3+$5J#()#H7%-+392#D#I32$%:)2,)#()#$@7,$:3)2,7#()%#/)+-/57F#
])@T2#/)+3)2,)5#)4$%-$+372)5#%$5#)=H%7,$+372)5#32,)2534$5#()#%$5#/)5)/4$5#()#-/$237#D#
+$/.92 # K)2 # )% # 234)% # 2)+)5$/37 # +7:7 # H$/$ # 5-$43O$/ # %$ # +/3535 # )2)/@<,3+$L # %%)4$/N$2 # $ # %$#

Y
()+%32$+392 # () # 5- # )=,/$++392 # $H/7=3:$($:)2,) # $ # H$/,3/ # ()% # $V7 # ()% # $V7 # !*&* # D#
H753.%):)2,)#$2,)5#KiLF
?*#&-5(%3*#&1%"'5+$,2*#&;5/',*)(#&$*)&+";"&*>"%*&)*#&+"/"+(;"#&#(&(/+5(/$%*/&
0)"A5(*'*# & 1"% & 5/ &+",>( ) "%"'3A+$,(& 1%"'5+$" & '( & #5 & 1%"1," & '(#*%%"))"J # () # 5-#
32,)/$++392#+72#%$ #04)%6$),!A).B *$H/)E)2(3($#()5()#%$#%9@3+$#()#%$#:7()/23($(J#)5#()+3/#
+7:7#7.B),7#()#()H/)($+392#K)%#27,$.%)#C"/%&#)2)/@<,3+7#()%#+$H3,$%35:7#32(-5,/3$%#I-)#)2#
/)$%3($(#%$#$2,)5$%$#()#-2#()5$5,/) #-234)/5$%LF#\7/#7,/$#H$/,)#)%#.%7M-)7#)2)/@<,3+7#$%#
+/)+3:3)2,7#)+729:3+7#H%$2,)$#)%#,):$#+/-+3$%#()#%$#)=H$25392#32+)5$2,)#()%#H/7(-+,7#
./-,7#@%7.$%J#2)+)53($(#43,$%#H$/$#)%#+$H3,$%35:7#H)/7#27#H$/$#7,/$5#I7/:$5#()#7/@$23O$+392#
57+3$%#(72()#)%#+725-:7J#%$#H75)5392#()#7.B),75#:$,)/3$%)5J#5)/N$2#5-.7/(32$(75#$#%$#
+72434)2+3$ # E-:$2$F # b3+E7 # )2 # 7,/75 # ,</:3275J # %$ # E-:$23($( # H7(/N$ # /)(-+3/#
5-5,$2+3$%:)2,)#5-# #@$5,7#()#)2)/@N$#H/7(-+3)2(7#@%7.$%:)2,)#:)275#$#+72(3+392#()#
/)7/@$23O$/#5-#535,):$#H/7(-+,347#)2#,7/27#()#%$5#2)+)53($()5#.S53+$5#()#%$#/)H/7(-++392#
57+3$%#%3.)/$($5#()#(3+,$(-/$5#)%3,35,$5#D#H$/$53,$/3$5J#)5#()+3/#()#%$#+-%,-/$#7++3()2,$%>
.-/@-)5$F#P5,7#M-)#$H$/)+)#$T2#+7:7#-2$#H/7H-)5,$#-,9H3+$J#32$%+$2O$.%)J#5)/$# #+$($#
4)O#:S5#K$#:)(3($#M-)#$4$2+)#%$#+/3535#@)2)/$%#()%#535,):$L#-2#H/7@/$:$#-/@)2,)#()#
57./)434)2+3$#K/)E-:$23O$+392#()%#R5)2,3(7#+7:T2`LF#####
\)/7 # E7D # )5,$:75 # 5-:)/@3(75 # )2 # H%)2$ # +/3535 # +$H3,$%35,$ # (72() # %$ ##!46$/) * !4!$1C%/-)*
+725,3,-D)#-2$#/)$%3($(#32)%-(3.%)J#)2#+725)+-)2+3$#7+-H$#)%#+)2,/7#()#%$#)5+)2$#%$#%-+E$#
H7/#%$#$H/7H3$+392#()#(3+E75#/)+-/575#)2,/)#%$5#H7,)2+3$5#(7:32$2,)5#K1]8J#?$H92J#12392#
P-/7H)$L # D # 5-5 # $57+3$(75 # ):)/@)2,)5 # H)/3I</3+75 # KUE32$J # Q2(3$LF #8H$/)+) # )2,72+)5 # %$#
@-)//$ # H7/ # )% # +72,/7% # () # %75 # D$+3:3)2,75 # D # %$5 # 4N$5 # () # (35,/3.-+392 # K7%)7(-+,75 # D#
@$57(-+,75L#D#5-#3:H$+,7#27#57%7#57./)#)%#:-2(7#5-.()5$//7%%$(7#5327#,$:.3<2#57./)#%$#
)47%-+392 # 57+3$% # () # %75 # H$N5)5 # +)2,/$%)5 # KH7/ # )B):H%7 # %$ # ,)535 # $+)/+$ # ()% # RI$5+35:7#
)2)/@<,3+7`LF#P5$#@-)//$#+7:)2O9#)2#%75#$V75#'""*#+-$2(7#)%#,):$#()%#$@7,$:3)2,7#()#
%75#/)+-/575#)2)/@<,3+75#,)2N$#-2$#(3I-5392#:$/@32$%F#G$#7I)2534$#:3%3,$/#27/,)$:)/3+$2$#
57./)#P-/$53$#)2#$%@-275#+$575#57%3,$/3$#D#)2#7,/75#$57+3$($#+72#%$#12392#P-/7H)$#5)#
323+39 # +72 # %$ # H/3:)/$ # @-)//$ # ()% # _7%I7J # 53@-39 # +72 # %$5 # @-)//$5 # () # q-@75%$43$ # KI%$2+7#
3OM-3)/(7#()#%$#I/$2B$#)-/$53S,3+$L#D#+72,32-9#+72#%$5#324$5372)5#()#8I@$235,S2#)#Q/$eJ#%$5#
$:)2$O$5 # 7++3()2,$%)5 # +72,/$ # Q/S2 # E$5,$ # %%)@$/ # $ # %$5 # /)+3)2,)5 # $H)/,-/$5 # () # 2-)475#
I/)2,)5#:3%3,$/)5#)2#)%#U$-+$57#K)2I/)2,$2(7#$#k-53$L#D#)2#\$e35,S2F#])#,/$,$#()#-2$#%7+$#
I-@$#E$+3$#$()%$2,)#$+7:H$V$($#H7/#%$#32+)5$2,)#)=H$25392#()#%$#ad86F#
G$#+/3535#)+729:3+$#)2#+-/57#H7(/N$#)2#H/32+3H37#I/)2$/#)%#N:H),-#3:H)/3$%35,$#$-2M-)#27#
)5#5)@-/7#M-)#)%%7#5-+)($J#,$:.3<2#H7(/N$#3:H72)/5)#%$#$%,)/2$,34$#7H-)5,$^#%$#)5+$%$($#
:3%3,$/35,$#()#a++3()2,)J#%$#)=H)/3)2+3$#E35,9/3+$#7++3()2,$%#275#)25)V$#M-)#5-#$2,)/37/#
:)@$#+/3535#K$H/7=3:$($:)2,)#'"'i>'"iZL#@)2)/9#I$5+35:7#D#@-)//$F#G$#()5+7:H753+392#
D # %$ #/)+7:H753+392 # $-,7/3,$/3$ # +725,3,-D)2 #,)2()2+3$5#4353.%)5# M-) #H-)()2 #$%,)/2$/5) #)#
32+%-57#+7:.32$/5)#,/S@3+$:)2,)F##

\7/#5-#H$/,)#%$#+/3535#$%3:)2,$/3$#)5,S#)5,/)+E$:)2,)#$57+3$($#$%#,):$#)2)/@<,3+7F#G$5#
,/$25I7/:$+372)5 # 2)7%3.)/$%)5 # M-) # %3M-3($/72 # )+727:N$5 # +$:H)532$5 # ,/$(3+372$%)5#
+72,/3.-D)/72#$%#H/7.%):$J#H7/#5-#H$/,)#%$#$H$/3+392#()#2-)4$5#H/)5372)5#()#():$2($#()#
$%3:)2,75#KH7/#)B):H%7#()#UE32$L#D#%$5#$4$%$2+E$5#)5H)+-%$,34$5#57./)#)575#H/7(-+,75#
):H-B$/72 # )2 # 5- # :7:)2,7 # %75 # H/)+375 # E$+3$ # $//3.$F # \)/7 # I-) # H/32+3H$%:)2,) # %$ # +/3535#
)2)/@<,3+$#%$#M-)#3:H-%59#%75#+75,75#$@/N+7%$5#$#,/$4<5#()#%75#:$D7/)5#H/)+375#()#%75#
E3(/7+$/.-/75F # G$5 # %%$:$($5 # :7()/23O$+372)5 # $@/$/3$5J # %$5 # R/)47%-+372)5 # 4)/()5`#
$H%3+$2(7#,)+27%7@N$5#$4$2O$($5J#:$5#0#$&+6-%/2)'.J#@)2)/$/72#-2$#$@-($#()H)2()2+3$#
/)5H)+,7 # () # %75 # E3(/7+$/.-/75# )2 # %75# H/32+3H$%)5 # 535,):$5# $@/$/375 # ()% # H%$2),$F# G-)@7#
+-$2(7#%%)@9#%$#+/3535#()#%$#)2)/@N$#)%##/):)(37#.-5+$(7#$#,/$4<5#()#%75#.37+7:.-5,3.%)5#
)2+$/)+39#,3)//$5##D#H/7(-+,75#$@/N+7%$5F

0
675 # )2+72,/$:75 # $E7/$ # $2,) # %$ # H)/5H)+,34$ # () # -2$ ##501%"'5++,4/ & %()*$,2* & '(&
*),;(/$"#&*&(#+*)*&6)"0*)&B1*%*)()*&*&)*&#501%"'5++,4/&(/(%6@$,+*C# +$-5$($#H7/#%$#
(32S:3+$#@)2)/$%#K)%#%%$:$(7##$&1$!'&L#()%#+$H3,$%35:7J#5-#()5$//7%%7#,)+27%9@3+7F#############

?*&+%,#,#&'(&)"#&7#$*'"#&D/,'"#

G$ # )+727:N$ # 27/,)$:)/3+$2$ # 5) # H/)5)2,$ # +7:7 #)% # +)2,/7 # @)2)/$(7/ # () # %$5# ,/)5 # +/3535#
$//3.$#:)2+372$($5J#5-#47/$+3($(#)2)/@<,3+$#7H)/$#+7:7#%$#H/32+3H$%#+$,$%3O$(7/$#()#%$5#
,-/.-%)2+3$5 # )2 # %75 # :)/+$(75 # H),/7%)/7 # D # $%3:)2,$/37J # 5- # E3H)/,/7I3$ # H$/$53,$/3$#
K)5H)+-%$,34$J#:3%3,$/J#+725-:35,$L#$%3:)2,$#)%#()57/()2#I32$2+3)/7#:-2(3$%F#])#,/$,$#()#-2#
%$/@7 # H/7+)57 # () # ()5$//7%%7 # () # ,)2()2+3$5 # 32,)/2$5>)=,)/2$5 # M-) # E-2(3)/72 # )2 # %$#
()+$()2+3$ # $ # %$ # 57+3)($( # )5,$(7-23()25) # M-) # H7/ # 5- # )27/:) # H)57 # /)%$,347 # @%7.$%#
+72(3+3729#%$#)47%-+392#()%#/)5,7#()%#:-2(7#KZLF###
P2#)%#T%,3:7#+-$/,7#()#53@%7#%75#P5,$(75#123(75#5-I/3)/72#-2$#H/7I-2($#,/$25I7/:$+392#()#
+$/S+,)/#)%3,35,$#D#H$/$53,$/37F#G$#+72+)2,/$+392#()#32@/)575#I-)#()+3534$J#)%#'#[#:S5#/3+7#
()#%$#H7.%$+392#+72+)2,/$.$#)2,/)#)%#Y#[#D#)%#0#[#()%#Q2@/)57#6$+372$%#$#+7:3)2O75#()#
%75#$V75#'"0*J#(3+E$#+3I/$#5)#)%)4$#$+,-$%:)2,)#$#+)/+$#()%#!*#[J#H7/#5-#H$/,)#)%#'*#[#
:S5#/3+7##H$59#)2#)%#:35:7#H)/N7(7#()%#&&#[#$%#Z*[#()%#Q2@/)57#6$+372$%F#\)/7#%$5#+%$5)5#
$%,$5#27#+7243/,3)/72#5-5#:$D7/)5#32@/)575#)2#:$D7/#$E7//7#)#324)/5392#5327#)2#%$#.$5)#()#
-2$#()5)2I/)2$($#+$//)/$#+725-:35,$F#P%#$E7//7#H)/572$%#:)(37#K7/3@32$(7#)2#5-#:$D7/#
H$/,)#)2#%$5#+%$5)5#:)(3$5#D#5-H)/37/)5L#/)H/)5)2,$.$#$#+7:3)2O75#()#%75#$V75#'""*#
)2,/)#Y#[#D#0#[#()%#32@/)57#:)(37#(35H723.%)J#$+,-$%:)2,)#D#()5()#E$+)#$%@7#:S5#()#-2#
%-5,/7#)5,S#:-D#H/9=3:7#()#+)/7F#P2#)%#H7%7#7H-)5,7#()#%$#57+3)($(#%75#5$%$/375#()#%75#
:S5#H7./)5#I-)/72#H)/(3)2(7#4)%7+3($(#E$5,$#()+%32$/#)2#,</:3275#/)$%)5#$#%7#%$/@7#()#%$#
(<+$($#$+,-$%J#)%%7#$+7:H$V$(7#H7/#-2$#+/)+3)2,)#H/)+$/3O$+392#%$.7/$%F#U7:7#/)5-%,$(7#
()#)57#)%#32@/)57#/)$%#:)(37#()#%75#27/,)$:)/3+$275#)5#E7D#32I)/37/#$%#()%#$V7#!***F#
P%#+725-:35:7#$4$2O9#H$/$%)%7#$#%$#I32$2+3)/3O$+392#@)2)/$%3O$($J#)2#H/3:)/#%-@$/#()#%$5#
@/$2()5 # ):H/)5$5 # M-) # E$+3$ # :)(3$(75 # () # %75 # $V75 # '"0* # 7.,)2N$2 # () # 5-5 # 2)@7+375#
I32$2+3)/75 # +)/+$ # ()% # 'h # [ # () # ,7(75 # 5-5 # .)2)I3+375 # %7@/$(75 # )2 # )% # ,)//3,7/37#
)5,$(7-23()25)J#4)32,)#$V75#()5H-<5#)5$#+3I/$#5)#E$.N$#)%)4$(7#$%#i*#[#KhLF###
P%#$4$2+)#H$/$53,$/37#3:H-%59#-2#H/7+)57#()#()@/$($+392#()#%$#32,)@/$+392#57+3$%#D#()%#
+-:H%3:3)2,7#()#%$5#27/:$5#()#+72434)2+3$J#%$#,/$25@/)5392#D#%$#+/3:32$%3($(#H)2),/$/72#
)2 # %75 # :S5 # (34)/575 # 5)+,7/)5 # () # %$ # H7.%$+392 # +-D$ # (32S:3+$ # )%3,35,$ # @)2)/9 # %$#
+/3:32$%3O$+392#()#%75#5)+,7/)5#32I)/37/)5F##8+,-$%:)2,)#%$5#+S/+)%)5#27/,)$:)/3+$2$5#572#
%$5#:S5#H7.%$($5#()%#H%$2),$J#E$+3$#'"0*#$%7B$.$2#-275#Z**#:3%#H/)575J#)2#'""*#+)/+$#()#
'F'Z*F***#J#)2#'""Y#)/$2#'FY**F***#$#%75#M-)#E$.N$#M-)#$@/)@$/##&F"**F***#)2#%3.)/,$(#
43@3%$($#K#$&7)%/&4J#),+FLJ#H)/7#$#I32)5#()#!**h#%75#H/)575##5-:$.$2#-275#!F!h*F***#D#%75#
+3-($($275 # )2 # %3.)/,$( # 43@3%$($ # -275 # Z # :3%%72)5W # )2 # # ,7,$% # :S5 # () # YF!**F***#
27/,)$:)/3+$275#5)#)2+72,/$.$2#.$B7#+-5,7(3$#B-(3+3$%#KYLF#P2#$./3%#()#!**0#-2#$/,3+-%7#
$H$/)+3(7#)2#)%#D!E*F&$?*G/5!'#5)V$%$.$#M-)#%75##P5,$(75#123(75#+72#:)275#()%#Z#[#()#
%$#H7.%$+392#:-2(3$%#$%7B$2#$%#!Z#[#()#,7(75#%75#H/)575#()%#H%$2),$J#-27#()#+$($#+3)2#()#
5-5 # E$.3,$2,)5 # $(-%,75 # 5) # )2+-)2,/$ # )2+$/+)%$(7W # )5 # %$ # +3I/$ # :S5 # $%,$ # $ # 234)%#
32,)/2$+372$%K0LF###
G$ # H/)+$/3O$+392 # %$.7/$% # )2 # %$5 # +%$5)5 # .$B$5 # 5-:$(7 # $% # +%3:$ # +725-:35,$>H$/$53,$/37#
H/74)23)2,)#()#%$5#+%$5)5#$%,$5#()@/$($/72#5)4)/$:)2,)#%$#+-%,-/$#H/7(-+,34$J#%7#M-)#E3O7#
+$($#4)O#:)275#+7:H),3,347#$%#535,):$#32(-5,/3$%F#P%#/)5-%,$(7#I-)#-2#(<I3+3,#+7:)/+3$%#
+/923+7 # M-) # %%)@9 # )2 # !**Y # $ # %75 # 0** # :3% # :3%%72)5 # () # (9%$/)5J # -2 # I$+,7/ # $(3+372$% # KD#
()+35347L#()%#H/7.%):$#)5#)%#(<I3+3,#)2)/@<,3+7#M-)#5)#I-)#$+)2,-$2(7#()5()#+7:3)2O75#()#
%75#$V75#'"Y*#+-$2(7#):H)O9#$#()+%32$/#%$#H/7(-++392#H),/7%)/$#()#%75#P5,$(75#123(75#
M-)#$+,-$%:)2,)#3:H7/,$#+)/+$#()%#hZ#[#()#5-#+725-:7F#b3+E7#(),)/37/7#I-)#$+7:H$V$(7#

"
H7/#-2#(<I3+3,#I35+$%#H)/:$2)2,)#D#+/)+3)2,)F#
P2 # +725)+-)2+3$ # )% # P5,$(7J # %$5 # ):H/)5$5 # D # %$5 # I$:3%3$5 # I-)/72 # $+-:-%$2(7 # ()-($5#
:3)2,/$5#)%#(9%$/#()+%32$.$J#$5N#5)#/)5M-)./$B$.$#)%#H3%$/#+)2,/$%#()#%$#H753+392#I32$2+3)/$#
32,)/2$+372$%#()#%75#P5,$(75#123(75F
P% # i # () # 7+,-./) # () # !**0 # %$ # ()-($ # ()% # )5,$(7 # I)()/$% # $%+$2O$.$ # %75 # '*J' # :3%%72)5# ()#
:3%%72)5#()#(9%$/)5#K$#-2#/3,:7#(3$/37#()#-275#&#:3%#:3%%72)5#()#(9%$/)5#53#,7:$:75#+7:7#
/)I)/)2+3$ #%75 # T%,3:75 # (7+) # :)5)5L # :3)2,/$5 # M-) #%$ # ()-($ # ,7,$% #KHT.%3+$ # :S5# H/34$($L#
E$.N$ # %%)@$(7 # $ # %75 # $ # %75 # Z& # :3%%72)5 # () # :3%%72)5 # () # (9%$/)5 # E$+3$ # I32)5 # () # !**Y#
K)M-34$%)2,) # $% # \/7(-+,7 # A/-,7 # ;-2(3$% # () # )5) # $V7 # # 7 # .3)2 # $ # &J0 # 4)+)5 # )% # \AQ#
27/,)$:)/3+$27LF # ]) # ,/$,$ # )2 #5N2,)535 # () #-2$ # )+727:N$ # M-) # I-2+372$ # K+$($ # 4)O # H)7/L#
57./)#%$#.$5)#()%#)2()-($:3)2,7#$+)%)/$(7F
G$#()@/$($+392#)+729:3+$#D#57+3$%#)5#$@/$4$($#H7/#)%#I/$+$57#()#%$#)5,/$,)@3$#:3%3,$/#()%#
Q:H)/37#+)2,/$($#)2# %$ #+72M-35,$# () #-2$ #)=,)2(3($ #I/$2B$#,)//3,7/3$% #)-/$53S,3+$#M-)#4$#
()5()#%75#A$%+$2)5#E$5,$#\$e35,S2# #H$5$2(7#H7/#d-/M-N$J#Q/$eJ#8/$.3$#]$-(3,$J#Q/$2J#%75#
H$N5)5 # () # 853$ # +)2,/$% # E$5,$ # %%)@$/ # $ # 8I@$235,S2F # P2 # )% # +)2,/7 # () # (3+E$ # I/$2B$ # 5)#
)2+-)2,/$2#%$#O72$5#()%#_7%I7#\</53+7#D#()#%$#U-)2+$#()%#;$/#U$5H37#M-)#$%.)/@$2#+)/+$#
()%#Y*#[#()#%$5#/)5)/4$5#@%7.$%)5#()#H),/9%)7F#G75#P5,$(75#123(75#()5()#)%#I32#()#%$#
_-)//$#c/N$#I-)/72#+-./3)2(7#)5)#)5H$+37#+72#.$5)5#:3%3,$/)5#D#7+-H$/72#$%@-275#()#5-5#
H$N5)5F#]-#43+,7/3$#%)5#E$./N$#H)/:3,3(7#$4$2O$/#57./)#k-53$J#5)@-/$:)2,)#/)$%3O$2(7#-2$#
:)@$ # ,$/)$ # () # ()5:):./$:3)2,7J # /<H%3+$ # $ # @/$2 # )5+$%$ # () # %7 # 7.,)23(7 # )2 # %$ # )=#
q-@75%$43$J # H$/$ # %-)@7 # $+7//$%$/ # D # 57:),)/ # $ # UE32$F # 67 # 5) # ,/$,$.$ # 57%7 # () # 7.B),3475#
)2)/@<,3+75 # 5327 # $ # ,/$4<5 # () # # %75 # :35:75 # /)$5)@-/$/ # 5- # (7:3237 # 57./) # )% # 535,):$#
I32$2+3)/7#32,)/2$+372$%F#
;S5 # $T2J # )5 # 2)+)5$/37 # 5-H)/$/ # )% # /)(-++37235:7 # )+729:3+7 # D # H)/+3.3/ # )% # ,/$5I72(7#
+-%,-/$% # +7%723$%35,$ # () # a++3()2,) # $5-:3(7 # H7/ # %$ # )%3,) # (7:32$2,) # 27/,)$:)/3+$2$F#
]3@-3)2(7#%$#43)B$#-,7HN$#@)7H7%N,3+$#$2@%75$B72$#()5+/3H,$#H7/#;$+m32()/#E$+)#:S5#()#
-2#53@%7#)5$#@/$2#+72M-35,$#%)#E$./N$#H)/:3,3(7#$%#Q:H)/37#H75))/#)%#+72,/7%#H%$2),$/37#K"LJ#
%75#3()9%7@75#()#%75#E$%+72)5#%%)4$/72#E$5,$#)%#)=,/):7#K@/7,)5+7L#(3+E$#3%-5392#E)/)()/$#
$():S5#()%#05/,!4/&*1!$5;4/-&.#$2-2+3$(7#H7/#j3,%)/F#
\)/7#%$#)5,/$,)@3$#)-/$53S,3+$#I/$+$59J#%$#)+727:N$#()+$()2,)#()#%75#P5,$(75#123(75#27#
)5,S#)2#+72(3+372)5#()#$5-:3/#-2$#%$/@$#@-)//$#-234)/5$%J#%$#()@/$($+392#()#5-#+7E)5392#
57+3$%#%3:3,$#%$5#H753.3%3($()5#()#/)+%-,$:3)2,7#()#,/7H$5#%7#M-)#%)5#7.%3@$#$#32+7/H7/$/#
:)/+)2$/375F#U7:7#7,/75#3:H)/375#()+%32$2,)5#()%#H$5$(7#5)#)2+-)2,/$2#$,/$H$(75#)2#
-2$#I7/:3($.%)#0'&7$!*!"%!4'/34*!'%$)%C1/-).#K\$-%#m)22)(DL#M-)#H/7I-2(3O$#5-#+/3535F#####
G$ # ()+$()2+3$ # 27/,)$:)/3+$2$ # $//$5,/$ # $% # :-2(7 # +$H3,$%35,$J # %75 # P5,$(75 # 123(75#
+725,3,-D)2#)%#)5H$+37#)5)2+3$%#()#%$#32,)/H)2),/$+392#H/7(-+,34$J#+7:)/+3$%#D#I32$2+3)/$#$#
)5+$%$#H%$2),$/3$#M-)#5)#I-)##$+)%)/$2(7#)2#%$5#,/)5#T%,3:$5#(<+$($5#E$5,$#+72I7/:$/#-2$#
,/$:$#:-D#()25$#()#%$#M-)#232@-2$#)+727:N$#+$H3,$%35,$#()5$//7%%$($#7#5-.()5$//7%%$($#
H-)() #)5+$H$/# K5$%3/#() #)5$ # /)( # 53@23I3+$ # /7:H)/ #+72 #%$# %9@3+$J #+72 #)% # I-2+372$:3)2,7#
+72+/),7 # ()% # +$H3,$%35:7 # 32,)@/$(7 # H7/ # +%$5)5 # (7:32$2,)5 # %7+$%)5 # $%,$:)2,)#
,/$252$+372$%3O$($5LF
E"% & "$%* & 1*%$( & )* & +%,#,# & /"%$(*;(%,+*/* & /" & (# & () & %(#5)$*'" & (.+)5#,2" & '( & -*+$"%(#&
(/'46(/"#=&#5&+"/#5;,#;"&1*%*#,$*%,"=&#5# &'@-,+,$#&< &(/'(5'*;,(/$"# &>*/&#,'"&
-5/+,"/*)(#&*&)*&+%,#,#&+%4/,+*&'(&#"0%(1%"'5++,4/&'(&+*%F+$(%&6)"0*)F#G$5#@/$2()5#
)+727:N$5 # +)2,/$%)5 # D # %$5 # 2-)4$5 # )+727:N$5 # ):)/@)2,)5 # K+7:7 # UE32$ # 7 # Q2(3$L # E$2#
H7(3(7#+/)+)/#@/$+3$5#$#%$#+$H$+3($(#()#$.57/+392#()#:)/+$2+N$5#D#+$H3,$%)5#H7/#H$/,)#()%#
:)/+$(7 # )5,$(7-23()25)F # P2 # $%@-275 # +$575 # 5) # ,/$,$ # () # +7%7+$+372)5 # (3/)+,$5 # ()#
)=+)()2,)5J#)2#7,/75#()#4)2,$5#)#324)/5372)5#)2#:)/+$(75#$#5-#4)O#)2%$O$(75#+72#%75#
P5,$(75#123(75J#H)/7#53):H/)#)%#Q:H)/37#$H$/)+)#+7:7#)%#:7,7/#)2#T%,3:$#325,$2+3$#()%#
535,):$#-234)/5$%F

'*
8E7/$ # +-$2(7 # %75 # P5,$(75 # 123(75 # )2,/$2 # )2 # /)+)5392 # 572 # 5)@-3(75 # H7/ # %$5 # 7,/$5#
H7,)2+3$5F#######
\7(/N$:75##)5,$.%)+)/#-2$#%$O9#E35,9/3+7#)2,/)#%75#(75#3:H)/375#$,%S2,3+75#M-)#(7:32$/72#
,7(7#)%#()5$//7%%7#()%#+$H3,$%35:7#32(-5,/3$%#()5()#5-#7/3@)2#E$+3$#I32)5#()%#53@%7#gpQQQ#
E$5,$ # )% # H/)5)2,)F # \/3:)/7 # )% # Q:H)/37 # 32@%<5 # ()5.$/$,$2(7 # )2 # 5- # ),$H$ # B-4)23%J # $#
+7:3)2O75 # ()% # 53@%7 # gQgJ # %$ # ,)2,$,34$ # E)@):923+$ # I/$2+)5$J # :S5 # $()%$2,)J # ()5() # %$5#
T%,3:$5#(<+$($5#()#)5)#53@%7#$+75$(7#H7/#)%#3:H)/3$%35:7#$%):S2#I32$%:)2,)#()//7,$(7J#
5-.7/(32$(7#%-)@7#()#(75#@-)//$5#:-2(3$%)5#)2#)%#53@%7#ggF#b72()#%$#()+$()2+3$#()#
Q2@%$,)//$#I-)#:S5#M-)#+7:H)25$($#H7/#)%#$5+)257#()#%75#P5,$(75#123(75#5-#E3B7#+-%,-/$%#
E7D#$#5-#4)O#()+%32$2,)#KH)/7#M-)#$2,)5#()#$+)%)/$/#5-#()5+)257#()//7,9#$#5-#)2):3@7#
)5,/$,<@3+7#@%7.$%^#%$#1k]]LF##8():S5#)5,)#+3+%7#3:H)/3$%#$2@%7>27/,)$:)/3+$:7#().)#5)/#
$57+3$(7#$%#+3+%7#)2)/@<,3+7#$H7D$(7#)2#%$#)=H%7,$+392#32,)2534$#()#/)+-/575#2$,-/$%)5#27#
/)274$.%)5 # E7D # ,$:.3<2 # ()+%32$2,) # K+$/.92>E)@):72N$ # () # Q2@%$,)//$>53@%7 # gQg # rrrs#
H),/9%)7>E)@):72N$#()#%75#P5,$(75#123(75>53@%7#ggLF######

8%,#,#&;,),$*%

P2 # )% # +)2,/7 # ()% # I/$+$57 # )-/$53S,3+7 # 5) # )2+-)2,/$ # )% # ()% #H&5#,!=& * I/,/%)$ * J4+6'%$/),*

27/,)$:)/3+$27F # ]- # +/3535 # $(M-3)/) # (3:)25392 # @%7.$% # 27 # 57%7 # H7/ # %$ # :$@23,-( # () # 5-#
)5,/-+,-/$ # 5327 # ,$:.3<2 # H7/M-) # 5- # ()+$()2+3$ # $//$5,/$ # $% # +72B-2,7 # () # %$ # ad86J # )2#
)5H)+3$%#%75#@/$2()5#$H$/$,75#)-/7H)75#+7:7#%75#()#Q2@%$,)//$#7#c/$2+3$F
Q/$e#)5#)%#H$2,$27#()#%75#)5,$(7-23()25)5J#H)/7#8I@$235,S2#KD#+$($#4)O#:S5#8I@$235,S2>
\$e35,S2L#)5#)%#H$2,$27#+7:T2#()#,7($5#%$#I-)/O$5#7++3()2,$%)5F######
P%#@$5,7#:3%3,$/#/)$%#E$#%%)@$(7#)2#%75#P5,$(75#123(75#$#234)%)5#2-2+$#$2,)5#$%+$2O$(75J#
53#$#%$5#)/7@$+372)5#()%#b)H$/,$:)2,7#()#b)I)25$#K-275#Y**#:3%#:3%%72)5#()#(9%$/)5L#
5-:$:75#%75#@$5,75#:3%3,$/)5#()#%$5#():S5#S/)$5#()%#P5,$(7#5)#%%)@$#H$/$#)5,)#$V7#$#
+)/+$#()#'J'#:3%%72)5#()#:3%%72)5#()#(9%$/)5#K'*LF
G3:3,S2(7275#$#%75#@$5,75#()#%75#b)H$/,$:)2,75#7#;3235,)/375#()#()I)25$#()#%75#H$N5)5#
()#%$#ad86#%%)@$/N$:75#$%#Y*#[#()#%75#@$5,75#:3%3,$/)5#@%7.$%)5#+$%+-%$(75#()#)5)#:7(7F#
q#532#):.$/@7#27#H-)()2#@$2$/#%$#@-)//$#)2#8I@$235,S2#%-)@7#()#:S5#()#5)35#$V75#()#
+7:.$,)5#K%$5#T%,3:$5#32I7/:$+372)5#(35H723.%)5#5)V$%$2#M-)#:$5#.3)2#)5#%$#/)535,)2+3$#
$I@$2$#%$#)5,S#7.,)23)2(7#43+,7/3$5L#$2,)#%7#+-$%#%$#ad86#E$#/)5H72(3(7#)=,)2(3)2(7#%$#
@-)//$#E$+3$#\$e35,S2F#
\7/#7,/$#H$/,)#%75#P5,$(75#123(75#E$2#/)5H72(3(7#/)+3)2,):)2,)#$#5-#):H$2,$2$:3)2,7#
)2 # Q/$e # ()5$,$2(7 # -2$ # @-)//$ # )2 # )% # U$-+$57J # ):H-B$2(7 # $% # +7:.$,) # $ # %$ # :32T5+-%$#
_)7/@3$#+72,/$#k-53$J#%$#5)@-2($#H7,)2+3$#:3%3,$/#()%#:-2(7F
P2#$:.75#+$575#H$/$#%75#7++3()2,$%)5#)%#/)5-%,$(7#)5#+$,$5,/9I3+7F#\7(/N$:75#5-:$/#-2#
,)/+)/#)B):H%7J#)%#()%#I/$+$57#()#%$#-%,3:$#324$5392#35/$)%N#$%#G3.$27#()5H%)@$2(7#I-)/O$5#
:3%3,$/)5#$./-:$(7/$:)2,)#5-H)/37/)5#$#%$5#()#%$#@-)//3%%$#j)O.7%%S#D#$H7D$($#H7/#%$5#
I-)/O$5#27/,)$:)/3+$2$5#325,$%$($5#)2#%$#/)@392F#d$:.3<2#$%%N#5)#,/$,$.$#()#-2$ #0<61)*
9)-/)*)+!,)4%!.##M-)#$():S5#$H-2,$.$#E$+3$#Q/S2F#
b75#7.5)/4$+372)5#:)#H$/)+)2#T,3%)5F
\/3:)/7J#275#)2+72,/$:75#$2,)#-2$#@/$4)#0-$/'/'*+!*#!$-!#-/34.#()#%75#:$2(75#:3%3,$/)5#
()#%$#ad86#KH/32+3H$%:)2,)#()#%75#27/,)$:)/3+$275L#)=,)253.%)#$#%$5#)%3,)5#(7:32$2,)5#()#
)575#H$N5)5F#67#)5#-2$#+/3535#H$5$B)/$J#)=H/)5$#-2$#()@/$($+392#H53+7%9@3+$#H/7I-2($J#-2#
$-,35:7 # :-D # ()5$//7%%$(7J # M-) # H7/ # 5- # H)/:$2)2+3$ # D # $4$2+) # 57%7 # H-)() # 5)/#
+7:H/)2(3(7#53#%7#32+%-3:75#()2,/7#()#-2#H/7+)57#()#()@/$($+392#:S5#$:H%37#K+-%,-/$%J#
)+729:3+7J#H7%N,3+7J#57+3$%LF
])@-2(7J#)5,$5# @-)//$5#+7%723$%)5 #I/$+$5$($5#()% #53@%7 #ggQ# :-)5,/$2 # %$ #+72I/72,$+392#
)2,/) # $H$/$,75 # :3%3,$/)5 # 3:H)/3$%35,$5 # )=,/):$($:)2,) # +75,7575 # D # 57I35,3+$(75 # D#

''
/)535,)2+3$5#$/:$($5#H7H-%$/)5#M-)#H)5)#$#%$#H7./)O$#()#5-5#32,)@/$2,)5J#$#5-5#)5+$575#
/)+-/575J#():-)5,/$2#-2$#)27/:)#+/)$,343($(#,<+23+7>:3%3,$/F#
8# (3I)/)2+3$ # () # %$5 # @-)//$5 # +7%723$%)5 # ()% # H$5$(7 # (72() # %$ # :7()/23($( # 7++3()2,$% # 5)#
)2I/)2,$.$ # $% #0)%$)'&` # H)/3I</3+7 # 57:),3<2(7%7 # ./-,$%:)2,) # $% # +$H3,$%35:7 # $5+)2()2,)J#
$E7/$ # %$ #57I35,3+$($ # :$M-32$/3$ #.<%3+$ #3:H)/3$% # %-+E$ # +72,/$ # I-)/O$5 # %7 #5-I3+3)2,):)2,)#
05&+!$4)'.# )#32I7/:$($5#+7:7#H$/$#+7:.$,3/#+72#$%,$#H/7.$.3%3($(#()#<=3,7F#G$#43+,7/3$#
+-%,-/$%#H%$2),$/3$#()#%$#:7()/23($(#7++3()2,$%#E$#,)/:32$(7#H7/#)2@)2(/$/#-2#)2):3@7#
I7/:3($.%)#$#5-5#H/7D)+,75#()#(7:32$+392J#%$#H)/3I)/3$#E$#H/7I-2(3O$(7#5-#5-.()5$//7%%7J#
5) # E$ # 32,)@/$(7 # +7:H%),$:)2,) # $ # %$ # +343%3O$+392 # .-/@-)5$ # D # +-$2(7 # )5,$ # )2,/$ # )2#
()+$()2+3$#%75#/).)%()5#H)/3I</3+75#(35H72)2#@/$+3$5#$#)%%$#()#%$#+-%,-/$#,<+23+$#M-)#%)5#
H)/:3,)#()//7,$/#$#5-#)2):3@7#3:H)/3$%F
d$% # 4)O # )5,):75 # H/)5)2+3$2(7 # %$ # T%,3:$ # ),$H$ # () # %$ # %$/@$ # E35,7/3$ # ()% # +$H3,$%35:7 # ()#
)5,$(7#.%32($(7J#()%#:)@$#$H$/$,35:7#$-,7/3,$/37#:3%3,$/#I-2($(7#)2#%$#+724)/@)2+3$#)2,/)#
+3)2+3$J#,)+27%7@N$J#32(-5,/3$#D#$(:3235,/$+392#HT.%3+$J#7/3@32$($#)2#%$#P-/7H$#()#I32)5#()%#
53@%7#gQg#H)/7#+72#$2,)+)()2,)5#)2#)%#()5$//7%%7#:3%3,$/#()#5-5#)5,$(75#.-/@-)5)5#()5()#
%$#k)47%-+392#c/$2+)5$J#%$5#@-)//$5#2$H7%)923+$5#D#%$#k)47%-+392#Q2(-5,/3$%#32@%)5$F#P%#
U7:H%)B7#;3%3,$/#Q2(-5,/3$%#27/,)$:)/3+$27#E$./N$#%%)4$(7#)5,)#()5$//7%%7#E$5,$#5-#%N:3,)#
5-H)/37/J#E$5,$#%$#57I35,3+$+392#,)+27%9@3+$#:S5#3//$+372$%J#E$5,$#-2#@3@$2,35:7#7H)/$,347#
M-) # %) # 3:H3() # H)/+3.3/ # $% #0#!K6!L& * 564+&.# /)$% # M-) # H/),)2() # (7:32$/F # P5,) # H/7.$.%)#
+7%$H57 # ()% # :3%3,$/35:7 # .-/@-<5 # +732+3() # +72 # %$ # +/3535 # () # %$ # I32$2+3)/3O$+392 # ()%#
+$H3,$%35:7J#),$H$#+$/$+,)/3O$($#%$#43/,-$%3O$+392#H$/$53,$/3$#()#%$#)+727:N$J#(72()#%75#
@/$2()5 # 7H)/$(7/)5 # I32$2+3)/75 # +72I-2()2 # $ # %$ # /)$%3($( # +72 # -2 # 43()7B-)@7F # P2,/) # %$#
43/,-$%3O$+392 # I32$2+3)/$ # D # %$ # 43/,-$%3O$+392 # :3%3,$/ # )=35,)2 # 2-:)/7575 # %$O75 # +-%,-/$%)5J#
:$I37575J#H7%N,3+75J#H53+7%9@3+75F###

8%,#,#&'()&7#$*'"

d$:.3<2#%$#+/3535#()%#P5,$(7#27/,)$:)/3+$27#3//$(3$#E$+3$#)%#/)5,7#()%#:-2(7#D#$%#:35:7#
,3):H7 # )=H/)5$ # -2 # I)29:)27 # -234)/5$%F # 67 # 5) # ,/$,$ # 57%7 # () # $57+3$/ # $ # A-5EJ # +72#
A)/%-5+723 # D # ]$/e7OD # +7:7 # :-)5,/$ # () # %$ # ()@/$($+392 # H7%N,3+$ # () # %75 # )5,$(75#
7++3()2,$%)5J # ().):75 # 3/ # :S5 # $%%S # D # )2I7+$/ # %$ # +/3535 # () # %75 # )5,$(75 # 32,)@/$(7/)5#
e)D2)53$275 # K+)2,/$%)5 # D # H)/3I</3+75J # 3:H)/3$%35,$5 # D # 2$+372$%>()5$//7%%35,$5L # ()5() # %75#
$V75#'"Y*#>#D#,$%#4)O#$2,)5#>#D#5-#$H/7H3$+392#H7/#H$/,)#()#%$5#)%3,)5#2)7%3.)/$%)5F#b3+E$#
/)47%-+392 # H7%N,3+$ # 5) # +7//)5H72(39 # +72 # %$ # I32$2+3)/3O$+392 # $+)%)/$($ # ()% # +$H3,$%35:7#
+732+3()2,)#$#5-#4)O#+72#)%#I/$+$57#()#+$53#,7(75#%75#57+3$%35:75#()%#53@%7#gg^#()//-:.)#
()#%$#1k]]#D#5-#)5I)/$#()#32I%-)2+3$J#4N$#%3./)#$%#+$H3,$%35:7#)2#UE32$F
P%#)5,$(7#32,)/4)2+37235,$#I-)#)%#H/7(-+,7#5-H)/$(7/#()#%$5#+/3535#+$H3,$%35,$5#7+-//3($5#
()5()#+7:3)2O75#()%#53@%7#ggJ#5-#$5+)257#)5,-47#53):H/)#$57+3$(7#$%#()%#:3%3,$/35:7J#$#
4)+)5 # () # :$2)/$ # 4353.%) # D # 7,/$5J # %-)@7 # () # %$ # 5)@-2($ # @-)//$ # :-2(3$%J # .$B7 # (35I/$O#
():7+/S,3+7 #K53#7.5)/4$:75#%$#)47%-+392 #()# %75#P5,$(75#123(75# ()5()# %75# $V75#'"&*#
+7:H/7.$/):75#M-)#)%#Re)D2)53$235:7#:3%3,$/`#E$#+725,3,-3(7#E$5,$#E7D#%$#)5H32$#(7/5$%#
()#5-#535,):$LF#########
P2 # 2-:)/7575 # H$N5)5 # 5-.()5$//7%%$(75 # (-/$2,) # )% # 53@%7 # gg # )% # P5,$(7 # KR57+3$%35,$`J#
R2$+372$%35,$`J # RH7H-%$/`J # ),+FL # I-) # )% # H3%$/ # I-2($:)2,$% # () # -2$ # $:H%3$ # 4$/3)($( # ()#
H/7D)+,75 # ):$2+3H$(7/)5F # P2 # )% # 7/3@)2 # :S5 # /):7,7 # () # ,7($5 # )5$5 # )=H)/3)2+3$5#
)2+72,/$/):75 # $ # %$ # ,/$25I7/:$+392 # +-%,-/$% # M-) # H)/:3,39 # %$ # 5-H)/$+392 # ()% # +$H3,$%35:7#
%3.)/$%#()5()#I32)5#()%#53@%7#gQg#/)325,$%$2(7#%$#)=H$25392#()%#535,):$F#G$#E)//$:3)2,$#
()+3534$#()#(3+E$#H/7+)57#I-)#)% #M'%)+&*/4%!$2!4%&$J#$(7H,$2(7#H$/$#5-#I-2+372$:3)2,7#
57%-+372)5 # )=,/$N($5 # () # %$ # $+,343($( # :3%3,$/ # +7:7 # %$ # H%$23I3+$+392 # +)2,/$%3O$($J # )%#
4)/,3+$%35:7J#),+F#######

'!
b)#:$2)/$#)=,/):$($:)2,)#532,<,3+$#)5#H753.%)#$I3/:$/#M-)#)%#()5$//7%%7#()#%$5#I-)/O$5#
H/7(-+,34$5 # -234)/5$%)5J # E$5,$ # %%)@$/ # $ # 5- # ()@)2)/$+392 # H$/$53,$/3$>I32$2+3)/$ # $+,-$%J#
,)/:329#H7/#()5.7/($/#$#5-5#/)@-%$(7/)5#)5,$,$%)5#5-:)/@3<2(7%75#)2#%$#:$D7/#()#5-5#
+/3535F
P% # 2)7%3.)/$%35:7 # $H$/)2,9 # 5)/ # %$ # )=H/)5392 # () # -2$ # @%7.$%3O$+392 # 5-H)/$(7/$ # () # %75#
)5,/)+E75#+$H3,$%35:75#2$+372$%)5J#)%#:)/+$(7#)/$#H75,-%$(7#+7:7#)5H$+37#5-H)/37/#()#
()5$//7%%7 # D # 5- # %3.)/,$( # +7:7 # %$ # +72(3+392 # # 32(35H)25$.%) # H$/$ # )% # <=3,7 # () # )5$ # 2-)4$#
,/$25I7/:$+392W#)2#/)$%3($(#5)#,/$,$.$#()%#43@7/757#:725,/-7#I32$2+3)/7#()47/$2(7#$#5-#
H$(/)##)5,$,$%>H/7(-+,347>e)D2)53$27F#
G$#5-H)/$+392#)5,$,35,$#()%#+$H3,$%35:7#%3.)/$%#()%#53@%7#gQg#27#57%7#:$/+9#+-%,-/$%:)2,)#$#
%$5#57+3)($()5#+)2,/$%)5#5327#,$:.3<2#$#%$#H)/3I)/3$#(72()#$H$/)+39#+7:7#)%#325,/-:)2,7#
3(92)7 # H$/$ # )% # ()5$//7%%7 # 32()H)2(3)2,) # $2,) # %$ # ().3%3($( # 7 # $-5)2+3$ # () # .-/@-)5N$5#
%7+$%)5 # :)(3$2$:)2,) # 2$+372$%35,$5F # 8():S5 # I-) # ()5() # +7:3)2O75 # ()% # 53@%7 # gg # %$#
+7:H72)2,)#()+3534$#()#%75#H/7D)+,75#()#5-H)/$+392#()%#+$H3,$%35:7J#)2#)575#+$575#5)#
,/$,$.$#()#/7:H)/#+72#)%#+$H3,$%35:7#$($H,$2(7J#RH/7%),$/3O$2(7`J#435,3)2(7#()#57+3$%35,$#$#
%75#:<,7(75#()%#H7/#)2,72+)5#B74)2#D#$H$/)2,):)2,)#:-D#)I3+$O#)5,$,35:7#.-/@-<5F##########
\)/7#)5)#)5,$,35:7#)24)B)+39#D#I32$%:)2,)#I-)#57:),3(7#$%#H7()/#I32$2+3)/7#@%7.$%3O$(7J#
27 # I-) # ()//3.$(7 # H7/ # )% # :743:3)2,7 # 325-/@)2,) # $2,3+$H3,$%35,$ # +)2,/$% # Dl7 # H)/3I</3+7#
H/)5)2,$(7 # +7:7 # 5- # E3B7 # 2)@$(7/>5-H)/$(7/J # M-) # /).)%S2(75) # ()5() # 5-5 # )2,/$V$5J#
/)@)2)/$.$#)%#()5$//7%%7#()#%$5#I-)/O$5#H/7(-+,34$5F#P5,$#53)2(7#()47/$(7#H7/#7,/7#E3B7#
5-D7J # $5,-,7 # D # ,72,7 # $ # %$ # 4)OJ # 3:H/7(-+,347J # +-D7 # T23+7 # H/7D)+,7 # )5 # %$ # ()H/)($+392#
KI32$2+3)/$J#)+7%9@3+$J#57+3$%LF########
#
8%,#,#&$(+/")46,+*

P%#535,):$#,)+27%9@3+7#)2%$O$#)2#-2#,7(7#+7E)/)2,)#,<+23+$5J#)M-3H75J#H/7(-+,75J#)5,3%75#
()#+725-:7J#:$,)/3$5#H/3:$5J#/)()5#()#+7:-23+$+392#D#,/$25H7/,)J#435,7#()#-2#:7(7#:S5#
$:H%37#)%#:35:7#5)#+7//)5H72()#+72J#)5#)%#2T+%)7#+)2,/$%#()J#%$#+343%3O$+392#.-/@-)5$F#####
P%#()5H)@-)##()%#+$H3,$%35:7#32(-5,/3$%#I-)#H753.%)#E$+3$#I32)5#()%#53@%7#gpQQQ#@/$+3$5#$#-2#
+72B-2,7 # () # 32274$+372)5 # M-) # 3:H/3:3)/72 # 4)%7+3($( # $% # H/7+)57 # () # $+-:-%$+392J#
)=,)2(3<2(7%7 # () # :$2)/$ # @%7.$%F# \$/$%)%$ # $ # %$ # )=H$25392 # +7%723$% # %$5 #2-)4$5 # ,<+23+$5#
H)/:3,3)/72 # $ # %$ # 32(-5,/3$ # 32()H)2(3O$/5) # () # %75 # /3,:75 # () # /)H/7(-++392 # 2$,-/$% # ()#
:$,)/3$5 # H/3:$5J # H/32+3H$%:)2,) # )2)/@<,3+$5F # G$ # )=H%7,$+392 # 32,)2534$ # () # /)+-/575#
)2)/@<,3+75#2$,-/$%)5#27#/)274$.%)5#H/7H7/+3729#-2$#H/3:)/$#I-)2,)#()#)2)/@N$#.$/$,$#D#
$.-2($2,)^ # +7:7 # D$ # 5)V$%< # )% # +3+%7 # ()% # +$/.92 # :32)/$% # 5) # +7//)5H72() # +72 # )% # ()%#
+$H3,$%35:7 # 32@%<5F # G$ # %%)@$($ # )2 # Q2@%$,)//$ # () # %$ # +3:$ # () # %$ # H/7(-++392 # () # +$/.92 # $#
+7:3)2O75#()%#53@%7#gg# #:$/+9#)%#323+37#()#%$#()+%32$+392#()%#Q:H)/37J#I-)#-2$#()#5-5#
+$-5$5F # \)/7 # $2,)5 # () # M-) # )5,7 # 7+-//3)/$ # 5) # E$.N$ # 323+3$(7 # )% # +3+%7 # $5+)2()2,) # ()%#
H),/9%)7#+72#+)2,/7#)2#%75#P5,$(75#123(75#M-)#%%)@7#$#5-#+)23,#E$+3$#'"Y*F
P5,) # %$O7 # )2,/) # +$H3,$%35:7 # 32(-5,/3$% # D # )=H%7,$+392 #32,)2534$ #() # /)+-/575 # 2$,-/$%)5 # 27#
/)274$.%)5#E$#53(7#()+3534$#)2#%$#H/3:)/$#+72I3@-/$+392#D#)47%-+392#H75,)/37/#()%#535,):$#
,)+27%9@3+7 # :7()/27J # 5)5@9 # %75 # :7()%75 # () # H/7(-++392J # +725-:7J # ,/$25H7/,) # D#
+7:-23+$+372)5F # b)I3239 # 32+%-57 # I32$%:)2,) # $% # 535,):$ # () # )=H%7,$+392 # () # %75 # /)+-/575#
2$,-/$%)5#/)274$.%)5J#+7:7#%$#$@/3+-%,-/$#D#%$#H)5+$J#325)/,S2(7%75#)2#-2#H/7+)57#:S5#
$:H%37 # () # ()H/)($+392 # $+)%)/$($ # M-) # ()5$,$ # $E7/$ # -2$ # +/3535 # $:.3)2,$% # M-) # 5) # 4$#
)=,)2(3)2(7#$+7:H$V$($#H7/#%7#M-)#H7(/N$:75#()I323/#+7:7#)%#+7:3)2O7#()#%$#),$H$#()#
()+%32$+392#)2#%$#)=H%7,$+392#()#%75#/)+-/575#27#/)274$.%)5#K\)$e#a3%J#H7/#)B):H%7LF
U7243)2) # $E7/$ # 32,/7(-+3/ # )% # +72+)H,7 # () #0,/5/%! * !'%$6-%6$),.# KnH7/M-) # 27 # R+-%,-/$%` # 7#
R+343%3O$+372$%`oL#()%#535,):$#,)+27%9@3+7#()I323(7#H7/#A)/,/$2(#_3%%)#+7:7#)%#H-2,7#)2#)%#
M-) # (3+E7 # 535,):$ # )5 # 32+$H$O # () # $-:)2,$/ # %$ # H/7(-++392 # )2 # @)2)/$% # 7 # (35:32-3/ # 5-5#

'&
+75,75#7#H7/#%7#:)275#3:H)(3/#M-)#)5,75#T%,3:75#53@$2#$-:)2,$2(7#$2,)#R2)+)53($()5#
E-:$2$5`#+/)+3)2,)5#K''LF#67#5)#,/$,$#()#2)+)53($()5#E-:$2$5#)2#@)2)/$%J#$E35,9/3+$5J#
5327 # () # 2)+)53($()5 # 57+3$%)5 # E35,9/3+$:)2,) # (),)/:32$($5 # K+72 # 5-5 # +%$5)5 # 57+3$%)5J#
3:H)/375J # H7.%$+372)5 # 57:),3($5J # %-B75J # ),+FLJ # )2 # )5) # 5)2,3(7 # )5 # H753.%) # 325,$%$/ # %$#
E3H9,)535 # () # M-) # )% # 535,):$ # ,)+27%9@3+7 # ()% # +$H3,$%35:7 # )5,$/N$ # %%)@$2(7 # $ # 5- # %N:3,)#
5-H)/37/#:S5#$%%S#()%#+-$%#4$#()B$2(7#()#5)/#%$#+7%-:2$#4)/,)./$%#()%#()5$//7%%7#()#%$5#
I-)/O$5#H/7(-+,34$5#H$/$#+724)/,3/5)#)2#%$#H-2,$#()#%$2O$#()#5-#()5,/-++392F#########
P5,)#%3:3,)#,)+27%9@3+7#H-)()#5)/#435,7#+7:7#H$/,)#()%#I)29:)27#()#$@7,$:3)2,7#()#%$#
+343%3O$+392 # .-/@-)5$ # (7:32$($ # H7/ # )% # H$/$53,35:7 # I32$2+3)/7 # KM-) # 27 # E-.3)/$ # H7(3(7#
$%+$2O$/#5-#234)%#$+,-$%#532#)%#/)5H$%(7#()#%$5#,)+27%7@N$5#()#H-2,$LF##

8")*1#"#&*;0,(/$*)&<&5%0*/"

G75 # +7%$H575 # $:.3)2,$%)5 # 572 # ,$2 # 43)B75 # +7:7 # %$5 # ()+$()2+3$5 # () # %$5 # +343%3O$+372)5J#
k3,+E3)#U$/%()/#+7:3)2O$#5-#E35,7/3$#()#%$5#,<+23+$5#+72#)%#53@-3)2,)#/)%$,7^
!"#$%#&'()(*+'*(#$,+$-#$.#/(-0'(#$,+$1#/2*0,0'0304$'0$+5(36+$%738$92'60$#$323$%:-6(;-+3$&2+44#3$-#$0/4#$
;4('*(;#-$,+$1#/2*0,0'0304$)2+$-#$+56+'3(<'$=$+%/+--+*(%(+'60$,+$.#/(-0'(#>$4+;#4<$+-$&4#'$6+%;-0$,+$?#4,2@$
=$*0'3642=<$+-$+'04%+$;#-#*(0$(%;+4(#-$*2/(+460$*0'$'2%+403#3$6+44#A#3$=$323$B#4,('+3$*0-&#'6+3$C2+$)2+40'$
2'#$,+$-#3$3(+6+$%#4#D(--#3$,+-$%2',08$E+*0'3642=<$-#$F044+$,+$.#/+->$+,()(*(0$;(4#%(,#-$+'$*2=#$*(%#$3+$
-+D#'6#/#$2'$D#360$6+%;-08
G+40$-2+&0$-#$'#624#-+A#$#&4+&<$#$+30$2'#$'06#$(4<'(*#$#;2'6#',0$H#*(#$-#3$#%/(*(0'+3$,+-$H0%/4+$=$-#$
+5;-06#*(<'$#$C2+$+36+$-#$30%+6(<8$I-$4J0$I2)4#6+3$6#'6#3$D+*+3$%#'(;2-#,0>$,+3D(#,0$,+$32$-+*H0$'#624#->$
6+4%('<$;04$D+'&#43+$8$K'$/2+'$,J#$64#'3)04%<$-03$#-4+,+,04+3$,+$.#/(-0'(#$+'$2'$;#'6#'0$+3;0'B030$,0',+$
;40-()+4#40'$-03$%03C2(603$,+-$;#-2,(3%0$>$+5;#',(+',0$-#$+')+4%+,#,$=$-#$%2+46+>$,+/(-(6#',0$#$-#$;0/-#*(<'$
H#36#$+-$;2'60$+'$C2+$'0$+362D0$%73$+'$*0',(*(0'+3$,+$%#'6+'+4$-#$4+,$,+$*#'#-+3$=$*2-6(D#4$-03$*#%;03L$-#$
,+*#,+'*(#$3+$#*+-+4<8$I3$;03(/-+$#)(4%#4$C2+$)2+40'$-03$%03C2(603$=$'0$-03$%0'&0-+3$-03$C2+$;4+*(;(6#40'$-#$
42('#$,+$.#/(-0'(#8$M'6+3$,+$C2+$-03$H04,#3$#3(76(*#3$$3+$*0'D(46(+4#'$+'$-#$#D#-#'*H#$;#&#'#$C2+$,+3642=<$
.#/(-0'(#$*2%;-(+',0$-#$;40)+*J#$,+$N3#(#3>$-03$%03C2(603$H#/J#'$B2&#,0$+-$40-$,+$*0%#',03$,+-$!"#$%&'"&($)&
"*+%,-.$)8$$$$$$$$
M-+B#',40$?#&'0$*0'C2(36<$.#/(-0'(#>$('D#,(<$G+43(#$+$N',(#$;#4#$*0'D+46(43+$+'$#%0$,+$*(D(-(A#*(0'+3$%73$
#'6(&2#3$C2+$-#$32=#>$-2+&0>$#$-#$*#/+A#$,+$32$+BO4*(60$4+&4+3<$#$-#3$6(+44#3$,+$.#/(-0'(#$=$*2#',0$--+&<$#$+--#3$
*#=<$+')+4%0$=$%24(<8$/012-&32%-4&0("*56'%$&7586$/& &%+$,+*J#$+-$6O*'(*0$(4#@J$%(+'64#3$#64#D+37/#%03$+-$
;#'6#'0$,+$.#/(-0'(#>$!%24(<$,+$%#-#4(#>$+-$%03C2(60$+4#$+-$D+4,#,+40$4+=$,+$.#/(-0'(#>$4+*2+4,+$236+,$C2+$+-$
%73$;0,+4030$,+$-03$,(03+3$/#/(-<'(*03>$1+4&#->$+4#$4+;4+3+'6#,0$/#B0$+-$#3;+*60$,+$2'$%03C2(60P$K'!LF####
#
_)7/@#]3::)%#K$4$2O$2(7#)2#-2$#/-,$#4353,$($#$2,)5#H7/#;$/=L#)5,$.%)+N$#)2#5-#7./$#
H95,-:$#%$#+72,/$H753+392J#)%#$2,$@7235:7#)2,/)#%$#(32S:3+$#()#%$#43($#+/)$(7/$#D#5-5#
H/7(-+,75 # K0</=&'.N# M-) # 5) #0)6%&4&5/A)4.# () # 5- # /)$%3O$(7/ # .%7M-)$2(7 # 7 # 32+%-57#
()5,/-D)2(7#5-#()5$//7%%7#K'&LF#\7(/N$:75#%%)4$/#)5)#)2I7M-)#E$+3$#-2$#5)+-)2+3$#.3)2#
+727+3($^ # )% # E7:./) # (7:32$ # $ # %$ # 2$,-/$%)O$ # $ # ,/$4<5 # () # ,<+23+$5 # M-) # $ # 5- # 4)O # %7#
+72(3+372$2J # $5-:3)2(7 # -2$ # +3)/,$ #0)6%&4&5().# /)5H)+,7 # () # 5- # +/)$(7/J # ()5$//7%%$2(7#
/3@3()+)5 # M-) # .%7M-)$2 # )% # ()5H%3)@-) # () # 5-5 # I-)/O$5 # H/7(-+,34$5F # a.43$:)2,) # (3+E$#
R$-,727:N$`#27#)5#/)$%:)2,)#)=,)/37/J#)5,S#H/)5)2,)#)2#,$2,7#/3@3()O#+343%3O$+372$%#()2,/7#
() # 5- # H/7H37 # 535,):$ # 57+3$% # D # H-)() # %%)@$/ # E$5,$ # 3:H)(3/%) # :7(3I3+$/ # K5-H)/$/L # -2$#
(32S:3+$#,<+23+$#M-)#%7#+72(-+)#E$+3$#%$#()H/)($+392#()#5-#:)(37#$:.3)2,)J#)5#()+3/#
E$+3$#%$#()5,/-++392#()#5-#)2,7/27#43,$%F#U-$2(7#)57#7+-//)#)5#H7/M-)#%$#+343%3O$+392#M-)#
)2@)2(/9 # )5) # 535,):$ # ,<+23+7 # E$ # %%)@$(7 # $ # 5- # ),$H$ # 5)23% # K%$ # ()5,/-++392 # ()% # :)(37#
$:.3)2,)#)5#)2#/)$%3($(#$-,7()5,/-++392#()%#535,):$#57+3$%#)=35,)2,)LF#G$#E35,7/3$#()#%$5#
+343%3O$+372)5#E$#/)H),3(7#)5$#5)+-)2+3$J#$E7/$#)5#)43()2,)#M-)#)%#+$H3,$%35:7#M-)#27#)/$#
)%#I32#()#%$#E35,7/3$#K5327#-2$#),$H$#5323)5,/$#()#%$#:35:$L#%$#4-)%4) #$#/)H),3/J#H)/7#%$#

'i
(3I)/)2+3$ # )5)2+3$% # +72 # %75 # ,3):H75 # H/):7()/275 # )5 # M-) # E7D # D$ # 27 # 275 # )2+72,/$:75#
I/)2,)#$#-2$#+$,S5,/7I)#$:.3)2,$%#%3:3,$($#$#-2$#/)@392#()%#:-2(7#5327#$2,)#-2#()5$5,/)#
() # )=,)25392 # H%$2),$/3$ # D # () # 32,)253($( # 2-2+$ # $2,)5 # $%+$2O$($F # G$ # /$(3+$%3($( # ()%#
I)29:)27 # +-)5,372$ # $ # %$ # ,<+23+$ # K+724)/,3($ # )2 # R,)+27%7@N$`L # )2 # ,$2,7 # 325,/-:)2,7 # ()#
%-+E$#()%#E7:./) #-&4%$)# %$#2$,-/$%)O$J#+72+).3($#+7:7#)5H$+37#)=,)/37/#KE75,3%L#M-)#)5#
2)+)5$/37 # (7:32$/J # +72,/7%$/ # 32,)@/$%:)2,)J # :$23H-%$2(7 # $ # @-5,7 # 5-5 # /3,:75 # ()#
/)H/7(-++392J#@$5,$2(7#$#47%-2,$(#5-5#,)57/75F##8():S5#%$#5)H$/$+392#3()7%9@3+$#)2,/)#)%#
E7:./) # D # %$ # 2$,-/$%)O$ # +7253()/$($ # +7:7 # 7.B),7 # () # )=H%7,$+392 #)5 # 32(357+3$.%) # () # %$#
(3435392 # ()% #,/$.$B7 # )2,/) # %75 #E7:./)5 # 5-H)/37/)5J # 7H/)57/)5 # D# %75 # 32I)/37/)5 # 7H/3:3(75#
+7253()/$(75#,$:.3<2#)%%75#:$,)/3$#H$534$#()#)=H%7,$+392F#
P%#+$H3,$%35:7#27#324)2,9#)5)#)5,3%7#H)/7#%7#%%)49#E$5,$#)%#)=,/):7#%N:3,)J#E$5,$#-2#234)%#,$%#
M-)#%$#5-H)/434)2+3$#()#%$#)5H)+3)#E-:$2$#()H)2()/S#+$($#4)O#:S5#()#%$#H)/5H)+,34$#()#
5-H)/$+392 # () # )5$ # %$/@$ # E35,7/3$ # () # (357+3$+392 # 3()7%9@3+$ # +-D75 # /)5-%,$(75 # H/S+,3+75#
H%$2,)$2#)%#H)%3@/7#()%#+7%$H57#H%$2),$/37F#G$#/$(3+$%3($(#()%#I)29:)27#)=3@)#)2,72+)5#
+)//$/#-2#H/7%72@$(7#+3+%7#()#+343%3O$+372)5#+-D$#T%,3:$#),$H$#)5#%$#()%#:-2(7#.-/@-<5F#

P5,/)+E$:)2,) #432+-%$(7#$#%$#+-)5,392#$:.3)2,$%#$H$/)+)#)%#,):$#()#%$#+/3535#-/.$2$F#
d$:.3<2#)2#)5,)#+$57#)5#2)+)5$/37#/):72,$/275#E$5,$#-2#H$5$(7#:-D#%)B$27J#E$5,$#%75#
7/N@)2)5#()#%$#+343%3O$+392F#;$/=#I-)#,)/:32$2,)#$%#/)5H)+,7^ #0O)*5;'*/5#&$%)4%!*+/2/'/34 *
!4%$!*!,*%$)7)=&*/4%!,!-%6),*P*!,*%$)7)=&*5)%!$/),*<6!*,)*'!#)$)-/34*+!*,)*-/6+)+*P*!,*-)5#&Q *
O)*&#&'/-/34*!4%$!*,)*-/6+)+*P*!,*-)5#&*/4/-/)*!,*#)'&*+!*,)*7)$7)$/!*)*,)*-/2/,/A)-/34B*+!, *
$C1/5!4*+!*%$/76'*),*M'%)+&B*+!*,)*,&-),/+)+*)*,)*4)-/34B*P*#$&'/16!*)*%$)2C'*+!*%&+)*,) *
9/'%&$/)*+!*,)*-/2/,/A)-/34*9)'%)*46!'%$&'*+()'.# K'iLF#8#)%%7#)5#2)+)5$/37 #)1$!1)$# M-)#%$#
)=H$25392#-/.$2$#5)#()5$//7%%9#$#,/$4<5#()#-2$#5-+)5392#32,)/:32$.%)#K$5+)2()2,)#)2#)%#
:-D#%$/@7#H%$O7L#()#<=3,75#D#I/$+$575J#()#H/7@/)575#D#()@/$($+372)5J#(72()#%$#+3-($(J#
+)2,/7#()%#H7()/J#()#%$#7/@$23O$+392#57+3$%#D#()#%$#+/)$+392#,<+23+$J#):)/@N$#+7:7#:7,7/#
()+35347 # ()% # ()5$//7%%7 # () # %$5 # I-)/O$5 # H/7(-+,34$5 # H)/7 # ,$:.3<2 # +7:7 # @)2)/$(7/$ # ()#
H$/$53,35:7#+-D$#E3H)/,/7I3$#,)/:32$.$#53):H/)#H7/#):H-B$/#$#+$($#+343%3O$+392#E$+3$#%$#
()+$()2+3$F#P%#H/7+)57#I-)#()5+/3H,7#:-+E7#$2,)5#()#%$#:7()/23($(J#H7/#)B):H%7#)2#)%#
53@%7#gQp#S/$.)J#Q.2#?$%(T2J#)5,$.%)+N$#-2$#,)7/N$#()#+3+%75#()#+343%3O$+392#M-)#+7:)2O$.$#
+72#%$#3:H753+392#()#%$#E)@):72N$#-/.$2$#@)2)/$2(7#H/7@/)57#@)2)/$%J#+72,32-$.$#+72#)%#
$5+)257 # ()% # H$/$53,35:7 # )2 # %$ # +3-($( # K(72() # /)53(N$ # )% # H7()/L # D # +72+%-N$ # +72 # %$#
()+$()2+3$#H$/$53,$/3$#D#)%#+7%$H57#()%#535,):$#K'ZLF
\)/7#+72#%$#3//-H+392#()%#+$H3,$%35:7#32(-5,/3$%#)%#535,):$#-/.$27#5)#)=H$2(39#532#I/)275#
+7:7#2-2+$#$2,)5#%7#E$.N$#E)+E7J#%$#,)2()2+3$#5)#$+)%)/9#()5()#:)(3$(75#()%#53@%7#gg#D#
:S5 # $T2 # )2 # 5-5 # T%,3:$5 # (<+$($5 # E$5,$ # %%)@$/ # $% # )5,$.%)+3:3)2,7 # () # %$ # 43($ # -/.$2$#
.-/@-)5$#+7:7#H$,/92#T23+7#()#%$#+-%,-/$#-234)/5$%#K)2#!**0#%$#H7.%$+392#-/.$2$#@%7.$%#
$%+$2O$/S#%$5#&F&**#:3%%72)5#()#H)/572$5L#K'hLF
b)5()#+7:3)2O75#()#%75#$V75#'"0*J#+-$2(7#%$#()57+-H$+392#D#)%#):H%)7#H/)+$/37#)2#%75#
H$N5)5 # +)2,/$%)5 # 5) # E3+3)/72 # +/923+75 # D # +-$2(7 # %$ # )=+%-5392 # D # %$ # H7./)O$ # -/.$2$5 # 5)#
)=H$2(3)/72#4)%7O:)2,)#)2#%$#H)/3I)/3$J#)%#+/)+3:3)2,7#()#%$5#@/$2()5#+3-($()5#I-)#+$($#
4)O # :$5 # )% # )M-34$%)2,) # () # 3247%-+392 # () # %$5 # +72(3+372)5 # () # 43($ # () # %$5 # :$D7/N$5#
K:)@$-/.$23O$+392#r#5-.()5$//7%%7#+$9,3+7LF#P2#'"0*#%$#H7.%$+392#-/.$2$#H)/3I</3+$#)/$#
()%#7/()2#()#%$5#"&*#:3%%72)5#()#H)/572$5#+72,/$#+)/+$#()#YY*#:3%%72)5#)2#)%#+)2,/7#
K/)%$+392 # 'J! # $ # 'LJ # )2 # )% # $V7 # !*** # %$ # /)%$+392 # H$59 # $ # 5)/ # () # ! # $ # 'J # %$5 # +3-($()5#
()5$//7%%$($5#+/)+3)/72#:7()/$($:)2,)#%%)@$2(7#$#"h*#:3%%72)5#D#%$5#5-.()5$//7%%$($5#
%%)@$/72 # $ # %75 # '"h* # :3%%72)5 # $H/7=3:$($:)2,) # %$ # :3,$( # () # )5,75 # T%,3:75 # 4343)2(7 # )2#
5-.-/.375#:35)/$.%)5F#G$#)/$#2)7%3.)/$%#+72#5-#$4$%$2+E$#()#H/34$,3O$+372)5J#/)+7/,)5#()#
@$5,75 # HT.%3+75 # 57+3$%)5 # D # () # 32I/$)5,/-+,-/$ # KH/32+3H$%:)2,) # )2 # %75 # H$N5)5 # H7./)5LJ#
)=+%-5392#H/7(-+,34$#D#()5/)@-%$+392#7H)/9#+7:7#-2#+$,$%3O$(7/#()#%$#)2,/7HN$#-/.$2$F

'Z
G$#()5+7:H753+392#()#%$5#+3-($()5#)5#+%$/$:)2,)#4353.%)#)2#%$#H)/3I)/3$#H)/7#27#)5#5-#
)=+%-5343($(J#5)#,/$,$#()#-2#I)29:)27#@%7.$%#$-2M-)#)5#)2#)%#:-2(7#5-.()5$//7%%$(7#
(72() # 5) # 5-+)()2 # %75 # H/3:)/75 # +7%$H575J # )=H/)5372)5 # :$5 # $@-($5 # () # -2$ # :$/)$#
:-%,3I7/:)J#3//)535,3.%)F#\3)//)#UE$-2-#5)V$%$.$#+7:7#-27#()#%75#5N2,7:$5#()+353475#()#%$#
()+$()2+3$#0,)*)#)$/-/34*+!*-/6+)+!'*-)4-!$&')'*+!*-$!-/5/!4%&*)4;$K6/-&B*+!'%$6-%&$)' *
+!,*5!+/&*)57/!4%!.#E$+3)2(7#)%#H$/$%)%7#)2,/)#%75#H/7+)575#()#()+%32$+392#+343%3O$+372$%#
)2#)%#;-2(7#82,3@-7J#H7/#)B):H%7#)%#Q:H)/37#k7:$27J#D#%$#53,-$+392#$+,-$%#K'YLF#

8,+)"#&)*%6"#&(&,/$(6%*+,4/&'(&)*#&+%,#,#

P% # H$27/$:$ # @%7.$% # $5-:) # )% # $5H)+,7 # () # -2$ # +724)/@)2+3$ # () # 2-:)/75$5 # +/3535 # ()#

(3I)/)2,)#/3,:7#)#3:H$+,7#)2#)%#+7/,7#H%$O7F#P5,$#53:-%,$2)3($(#5-@3)/)#%$#)=35,)2+3$#()#-2#
I)29:)27 # :$D7/ # M-) # %$5 # 32+%-D) # $ # ,7($5J # %$ # 3()$ # () #-$/'/'8'/'%C5/-)81!4!$),# $H$/)+)#
+7:7 # /)5H-)5,$ # 32:)(3$,$ # $% # 32,)//7@$2,) # 532 # # ):.$/@7 # )% # +72+)H,7 # () # 535,):$ # 5)#
H/)5)2,$ # +$/@$(7 # () # $:.3@t)($()5F # nb) # M-) #0'/'%!5).# )5,$:75 # E$.%$2(7oJ # n() # %75#
535,):$5#I32$2+3)/7J#)+729:3+7J#()#E)@):72N$#27/,)$:)/3+$2$#:-2(3$%J#()#E)@):72N$#
7++3()2,$%#7#.3)2#()%#535,):$#+$H3,$%35,$#+7:7#-2#,7(7oF#8():S5^#n5)#,/$,$#()#+/3535#7#()#
$%@7 # :-+E7 # :S5 # @/$4)oJ # n275 # )2+72,/$:75 # ,$% # 4)O # $2,) # )% # +7:3)2O7 # () # -2 # # :)@$#
+7%$H57#H7,)2+3$%:)2,)#:7/,$%#H$/$#)%#0'/'%!5).oF#\7/#7,/$#H$/,)#+72#)%#+7//)/#()%#,3):H7#
572 # H)/+3.3($5 # 2-)4$5 # R+/3535` # M-) # 5) # 32+7/H7/$2 # $ # %$ # %35,$J # H7/ # )B):H%7 # $ # %$5 # 2-)4)#
,-/.-%)2+3$5#$//3.$#()5+/3H,$5#H7(/N$:75#$@/)@$/##%$#()#%75#5N:.7%75*%)@3,3:$(7/)5#()#%$#
:7()/23($(J # 5-5 # 27/:$5J # 4$%7/)5J # 435372)5 # ()% # I-,-/7J # 3()2,3($()5 # D # ,7(75 # $M-)%%$5#
/)H/)5)2,$+372)5#M-)#7,7/@$2#5)2,3(7#$#%$#)=35,)2+3$#K'0LJ#:S5#M-)#)43()2,)#)2#%75#H$N5)5#
+)2,/$%)5 # D # ,$:.3<2 # )2 # %75 # )5H$+375 # KH/)I)/)2,):)2,) # -/.$275L # () # %$5 # O72$5 # :S5#
:7()/2$5#()#%$#H)/3I)/3$F#

P:H)O$2(7#%$#%35,$#()#%$5#+/3535#+72#)%#7+$57#()#%75#P5,$(75#123(75J#)%#:35:7#$H$/)+)#
+7:7#%$#),$H$#,)/:32$%#()%#+3+%7#()#%$#E)@):72N$#$2@%7>27/,)$:)/3+$2$#M-)#$.$/+$#,7($#
%$#E35,7/3$#()%#+$H3,$%35:7#32(-5,/3$%J#()5()#5-5#7/N@)2)5#E$+3$#I32)5#()%#53@%7#gpQQQJ#%-)@7#
()//7,$2(7#5-+)534$:)2,)#$#5-5#7H72)2,)5#I/$2+<5#K@-)//$5#2$H7%)923+$5LJ#$%):S2#K%$5#
(75#@-)//$5#:-2(3$%)5#D#5743<,3+7#K@-)//$#I/N$LF#12$#)4$%-$+392#H/75H)+,34$#/3@-/75$#275#
%%)4$/N$#$#%$#+72+%-5392#()#M-)#27#)=35,)2#)2#-2#E7/3O72,)#,):H7/$%#/$O72$.%)#5-+)57/)5#
3:H)/3$%)5#(3@275#()#)5)#27:./)F#G$#+/3535#$+,-$%J#57./)#,7(7#%$5#,-/.-%)2+3$5#I32$2+3)/$5#
)2#+-/57#D#5-5#5)+-)%$5#+7:)/+3$%)5#)#32(-5,/3$%)5J#+72I3/:$2#H%)2$:)2,)#)5$#$I3/:$+392^#
%$5#7,/$5#@/$2()5#H7,)2+3$5#)5,S2#+7:H%),$:)2,)#$,$($5#$%#()5,327#()#%75#P5,$(75#123(75#
D#43+)4)/5$F###########

P5) # +3+%7 # .3+)2,)2$/37 # +732+3() # K5) # )2+-)2,/$ # )5,/)+E$:)2,) # $57+3$(7L # +72 # )% # () # %$#
)=H%7,$+392 # 32,)2534$ # () # %75 # /)+-/575 # )2)/@<,3+75 # 27 # /)274$.%)5 # K5-H)/+3+%7 # +$/.92>
H),/9%)7L # +7/$O92 # ()% # ()5$//7%%7 # 32(-5,/3$% # +$H3,$%35,$ # M-) # H-(7 # ()5H)@$/ # D # )=H$2(3/5)#
4)/,3@3275$:)2,) # H7/M-) # 57:),39 # $ # 5-5 # /3,:75 # $ # %$5 # I-)2,)5 # )2)/@<,3+$5 # K7.B),347#
,<+23+$:)2,)#3:H753.%)#53#5)#E-.3)/$#,/$,$(7#()#/)+-/575#)2)/@<,3+75#/)274$.%)5LF#
j$+3$ # %75 # $V75 # '"Y* # +7:)2O9 # $ # ()+%32$/ # %$ # H/7(-++392 # H),/7%)/$ # 27/,)$:)/3+$2$ # D # )%#
+/)+3:3)2,7#)+729:3+7#@%7.$%#()#%$5#(<+$($5#H75,)/37/)5J#+)2,/$(7#)2#%75#H$N5)5#()#$%,7#
()5$//7%%7 # K)2)/@<,3+$:)2,) # ()I3+3,$/375L # $+)%)/9 # %$ # ()H/)($+392 # H%$2),$/3$ # () # )575#
/)+-/575 # E$5,$ # %%)@$/ # $% # $@7,$:3)2,7 # K)2 # )% # ,/$25+-/57 # () # %$ # (<+$($ # $+,-$%L # ()#
$H/7=3:$($:)2,)#%$#:3,$(#()#%$5#/)5)/4$5F#P5#()+3/#%7#M-)#5)#+727+)#+7:7#RH)$e#73%`J#
+3:$ # () # %$ # )=,/$++392 # H),/7%)/$ # @%7.$%J # $2,)5$%$ # () # 5- # ()+%32$+392 # M-) # $ # 5- # 4)O#
K/)L32,/7(-+)#()5H-<5#()#(75#53@%75#)%#,):$#()#%$#H)2-/3$#$%3:)2,$/3$F

'h
\7/#5-#H$/,)#%$#I32$2+3)/3O$+392#$+)%)/$($#()%#+$H3,$%35:7#5)#()5$//7%%9#()5()#I32)5#()#%75#
$V75#'"h*##E$5,$#%%)@$/#$#-2$#E3H)/,/7I3$#3:H753.%)#()#+72,/7%$/#D#M-)#$E7/$#32@/)5$#)2#-2#
H)/N7(7#()#$%,$#,-/.-%)2+3$F#P%#$5+)257#()%#+$H3,$%#I32$2+3)/7#+7:7#+)2,/7#(7:32$2,)#()%#
535,):$#I-)#(),)+,$(7#E$+)#+$53#-2#53@%7J#H)/7#27#().)/N$:75#(),)2)/#%$#E35,7/3$#$%%NJ#)5#
2)+)5$/37 # /):72,$/275 # $ # %75 # 7/N@)2)5 # ()% # +$H3,$%35:7 # 32(-5,/3$% # D # 5-5 # +/3535 # ()#
57./)H/7(-++392 # $ # %7 # %$/@7 # ()% # 53@%7 # gQgF # G-)@7 # () # +$($ # -2$ # () # )%%$5# D# H/7(-+3($ # %$#
()H-/$+392#+7//)5H72(3)2,)J#)%#535,):$#27#/)2$+N$#+7:7#53#2$($#E-.3)/$#7+-//3(7J#27#57%7#
$+-:-%$.$ # %$5 # 32274$+372)5 # () # %$ # ),$H$ # $2,)/37/ # $ # %$5 # M-) # $@/)@$.$ # 7,/$5 # 5327 # M-)#
E)/)($.$#,$:.3<2#$%@-2$5#E)/3($5J#$%@-2$5#,$/$5J#$%@-275#5)@:)2,75#H$/$53,$/375#KH7/#
)B):H%7#I32$2+3)/75L#M-)#H$5$.$2#$#I7/:$/#H$/,)#()#%$#2-)4$#),$H$F#\7():75#$5N#4)/J#
53@-3)2(7#$#;$/=J#+7:7#)%#+$H3,$%35:7#4$#,/$253,$2(7#-2$#5-+)5392#()#+/3535#5-H)/$.%)5#
$H-2,$2(7#E$+3$#-2$#+/3535#()#+$/S+,)/#@)2)/$%F#G$#:35:$#27#5)#H/7(-B7#E$+3$#I32)5#()%#
53@%7#gQg#7#$#+7:3)2O75#()%#53@%7#gg#H7/M-)#)%#+$H3,$%35:7#27#)5#57%7#-2$ #0!'%$6-%6$)*
!-&435/-).#5327#$%@7#:$5#$:H%37J#5)#,/$,$#()#-2#535,):$#57+3$%#:-D#+7:H%)B7#+$H$O#()#
@)2)/$/ # +7//)+,3475J# H$/+E)5 # 7 # 32+%-57 # @/$2()5 # ,/$25I7/:$+372)5# M-) # %) # E$2 # H)/:3,3(7#
57./)4343/#D#+/)+)/F#67#5)#,/$,$#()#%$#3:H753+392#()#57%-+372)5#5$%4$(7/$5#()5()#%7#27>
)+729:3+7#KH7/#)B):H%7#()5()#%$#)5I)/$#H7%N,3+$L#3:H-)5,$5#$#%$#3//$+372$%3($(#)+729:3+$J#
5327#()#-2$#32,)/$++392#H%-/$%#$%#32,)/37/#()#%$5#+%$5)5#(7:32$2,)5#M-)#4$#(35)V$2(7#%$#
$%,)/2$,34$#:S5#)I3+$OJ#)%#)5,$,35:7J#)%#:3%3,$/35:7J#%$#)=H$25392#I32$2+3)/$#5)#+72B-@$/72#
H$/$#5$%4$/#$%#535,):$F#\7():75#)2,72+)5#,/$O$/#-2#57%7#+3+%7#+$H3,$%35,$#.3+)2,)2$/37#.$B7#
E)@):72N$#32(-5,/3$%#H/3:)/7#D#I32$2+3)/$#()5H-<5F

P%#:3%3,$/35:7#:7()/27#,$:H7+7#I-)#-2$#32274$+392#M-)#$H$/)+39#()#3:H/74357#$#I32)5#()%#
53@%7 # gQgJ # 5- # H/3:)/ # ()5$//7%%7 # I-) # H$/$%)%7 # $ # %$ # +7257%3($+392 # ()% # )5,$(7 # .-/@-<5 # )2#
a++3()2,)#D#5-#H)/3I)/3$#+7%723$%F#G$#32,/7(-++392#()#%$#+3)2+3$#)2#%$#)5I)/$#:3%3,$/#D#%$#
,/$25I7/:$+392#()#)5,$#T%,3:$#)2#-2$#)5,/-+,-/$#()#+$/S+,)/#32(-5,/3$%#5)#I-)#+72I7/:$2(7#
@/$(-$%:)2,)#$#%75#%$/@7#()#)5)#53@%7#$%#I32$%#()%#+-$%#(37#-2#5$%,7#+-$%3,$,347F#]-#E3H)/,/7I3$#
$H$/$,35,$ # $+,-$%J # 3:H-%5$ # D # )5 # 3:H-%5$($ # H7/ # %$ # +/3535 # @)2)/$%J # ,3)2) # M-) # 4)/ # +72 # )%#
E7/3O72,)#()#H)2-/3$#)2)/@<,3+$##K@-)//$5#)-/$53S,3+$5L#D#+72#5-#)=H$25392#32+)5$2,)#.$B7#
H/)(7:3237#)-/7H)7#(-/$2,)#,7(7#)%#53@%7#gQg#D#+7:3)2O75#()%#53@%7#gg#+-$2(7#()5H)@9#
)%#:7()/27#U7:H%)B7#;3%3,$/>Q2(-5,/3$%#D#:S5#$()%$2,)J#()5()#%$#5)@-2($#@-)//$#:-2(3$%J#
.$B7 # H/)(7:3237 # 27/,)$:)/3+$27 # K:$/+$(7 # H7/ # )% #0?!P4!'/)4/'5& * 5/,/%)$.LF # G7 # M-) # %7#
+7243/,39#)2#%$#)/$#()#%$#I32$2+3)/3O$+392#$+)%)/$($#K()5()#:)(3$(75#()#%75#$V75#'"Y*L#)2#
-2 # H3%$/ # ()+35347 # () # %75 # 2)@7+375 # 32(-5,/3$%>I32$2+3)/75 # :S5 # +72+)2,/$(75 # +-D$#
()@/$($+392#H$/$53,$/3$#%7#57./)#(),)/:32$F#

P%#:3,7#()%#P5,$(7#$-5)2,)#7#:$/@32$%#(-/$2,)#%$#)/$#()%#+$H3,$%35:7#%3.)/$%#()%#53@%7#gQg#
().) # 5)/ # /)435$(7J # I-) # %$ # /)5-%,$2,) # () # 4-%@$/3O$+372)5 # I-)/,):)2,) # 3:H/)@2$($5 # ()#
3()7%7@35:7#.-/@-<5#M-)#/),7/2$/72#+72#I-)/O$#)2#%$#)/$#2)7%3.)/$%F#P%#)5,$(7#$T2#(<.3%#$#
+7:3)2O75#()#(3+E7#53@%7#I-)#+/)+3)2(7#)#32+/):)2,$2(7#5-5#I-2+372)5#$#:)(3($#M-)#%$#
)=H$25392#)+729:3+$#%7#H)/:3,N$#D#M-)#%$5#+/3535#()%#535,):$#%7#)=3@N$2#E$5,$#+724)/,3/5)#
)2 # )% # )5,$(7>32,)/4)2,7/ # ()% # 53@%7 # ggF # G$ # $+,-$% # ()@/$($+392 # ()% # P5,$(7 # KI32$2+3)/$J#
+-%,-/$%J # ,<+23+$L # )5 # )% # I32 # () # -2 # %$/@7 # +3+%7 # D # )5,$ # )2%$O$($ # +72 # %$5 # 7,/$5 # +/3535 # D$#
:)2+372$($5J#%$#E3H)/,/7I3$#.-/7+/S,3+$>:3%3,$/#()%#Q:H)/37#%7#$I)+,$#()#:$2)/$#(3/)+,$J#%75#
$%,75#+N/+-%75#I32$2+3)/75#+72,/7%$2#%75#)5,$(75#()#%$5#@/$2()5#H7,)2+3$5#+7243/,3<2(7%75#
)2#:$/372),$5#()#%75#)5H)+-%$(7/)5F

d$2,7#%$#+/3535#:3%3,$/J#+7:7#%$5#+/3535#)2)/@<,3+$#D#$%3:)2,$/3$J#+7:7#)2#T%,3:$#325,$2+3$#%$#
+/3535#()#%$#I32$2+3)/3O$+392#7/3@32$($#)2#%$#+/3535#()#57./)#H/7(-++392#+/923+$#275#)5,S2#
$%)/,$2(7#$+)/+$#()#%$#)=35,)2+3$#()#-2$#H/7I-2($#+/3535#()%#535,):$#,)+27%9@3+7#()#%$#

'Y
:7()/23($(J#()#%$#+343%3O$+392#.-/@-)5$J#32+$H$O#()#5-H)/$/#5-5#.%7M-)75J#()#@)2)/$/#
-2$ # 7%$ # @%7.$% # () # 32274$+372)5 # M-) # H753.3%3,) # $:H%3$/ # $ # %$/@7 # H%$O7 # %$ # )=H$25392 # ()%#
+$H3,$%35:7#32,/7(-+3)2(7#,/$25I7/:$+372)5#()+3534$5#KH7/#)B):H%7#)2#)%#H)/I3%#()#+725-:7#
)2)/@<,3+7LF#P%#:-2(7#.-/@-<5#E$#M-)($(7#H/35372)/7#()#5-#+-%,-/$#H/7(-+,34$J#()#5-5#
H/7)O$5 # +3)2,NI3+$5 # D # ,)+27%9@3+$5J # )5 # ()+3/ # () # -2$ # $+-:-%$+392 # +-%,-/$% # ():$53$(7#
H)5$($#+7:7#H$/$#M-)#5)$#/):743($#K/)274$($L#H7/#-2$#+343%3O$+392#43)B$F
G$#+/3535#-/.$2$#5)#()/34$#(3/)+,$:)2,)#()%#H/7+)57#()#I32$2+3)/3O$+392#M-)#()5)5,/-+,-/9#
$H$/$,75#H/7(-+,3475#H)/3I</3+75J#+72+)2,/9#32@/)575#$#)5+$%$#:-2(3$%J#)%3,3O9#%75#)5,$(75#
$2-%$2(7#7#(35:32-D)2(7#5-#$2,)/37/#/7%#32,)@/$(7/F
P2#I32#%$#+/3535#$:.3)2,$%#$H$/)+)#+72#%$O75#(3/)+,75#E$+3$#,7($5#%$5#+/3535#:)2+372$($5#D#
() # :$2)/$ # :-D # )43()2,) # +72 # )% # $@7,$:3)2,7 # ()% # 535,):$ # ,)+27%9@3+7 # +-D$ # /3@3()O # %7#
+7243)/,)#)2#)%#:7,7/#()#%$#()5,/-++392#)+7%9@3+$F##########

\/)+35$:)2,) # )5,$ # :-%,3H%3+$+392 # $% # 32I323,7 # () #0-$/'/'.# D # 5- # +/)+3)2,) # 43/-%)2+3$ # )#

32,)/$++392#275#)5,S#5)V$%$2(7#M-)#275#)2+72,/$:75#I/)2,)#$#%$#+/3535#()%#535,):$#+7:7#
,7,$%3($(#+343%3O$+372$%J#)%#:35:7#E$#4)23(7#)=H)/3:)2,$2(7#)2#%$5#T%,3:$5#+-$,/7#(<+$($5#
(34)/5$5#+/3535#H$/+3$%)5J#57./)#,7(7#I32$2+3)/$5J#)2#)%#:$/+7#()#-2$#%$/@$#()+$()2+3$#
@)2)/$%#(72()#)%#H$/$53,35:7#()H/)($(7/#I-)#$4$2O$2(7#()#:$2)/$#3//)535,3.%)#)2#,7($5#
%$5#)5I)/$5#()#%$#43($#57+3$%F#b)#)5)#:7(7#%$#%$/@$#+/3535#()%#+$H3,$%35:7#+724)/,3($#)2#
()+$()2+3$#()/349#I32$%:)2,)#$E7/$J#$%#I32$%#()#%$#H/3:)/$#(<+$($#()%#53@%7#ggQJ#)2#-2#
+7%$H57 # I32$2+3)/7 # M-) # H7(/N$ # %%)@$/ # $ # +7:.32$/5) # +72 # 7,/$5 # ,-/.-%)2+3$5 # $@-($5 # D#
,/$25I7/:$/5) # )2 # +7%$H57 # @)2)/$% # () # %$ # +343%3O$+392 # 43@)2,)F # U7%$H57 # 27 # )M-34$%) # ()#
:$2)/$ # 32:)(3$,$ # $ # :-)/,) # H)/7 # 53 # 5) # )=,3)2() # D # H)/(-/$ # H-)() # )2@)2(/$/ # %$#
()532,)@/$+392#3:H$/$.%)#()%#535,):$#K)%#H$/$%)%7#+72#%$#()+$()2+3$#()%#Q:H)/37#k7:$27#
)5#32)43,$.%)LF####

P5,S.$:75 # $+75,-:./$(75 # $ # 4)/ # %$5 # +/3535 # ()% # +$H3,$%35:7 # +7:7 # +/3535 # ()#
57./)H/7(-++392J#()#)5)#:7(7#275#$+)/+S.$:75#$#%$#/)$%3($(#H)/7#27#+725)@-N$:75#
)2,)2()/%$#.3)2F#G$#+/3535#+/923+$J#%$/@$J#()#57./)H/7(-++392 #27 #3:H3(39#)%#+/)+3:3)2,7#
)+729:3+7J # H)/7 # )=$+)/.9 # %$5 # ,)2()2+3$5 # H$/$53,$/3$5J # %$ # +-%,-/$ # ()% # +7/,7 # H%$O7J # %$#
I/347%3($( # +7:7 # H$,/92 # () # +7:H7/,$:3)2,7J # %$ # ()H/)($+392 # () # I-)/O$5 # H/7(-+,34$5 # D#
)+7535,):$5J#D#):H3)O$#$#()/34$/#)2#-2$#,'$1$1)8")19;0'(89,,$2%#K+)2,/$($#H7/#$E7/$#
()#:$2)/$#4353.%)#)2#)% #%!-9&*!4!$1C%/-&L#%7#M-)#275#H)/:3,)#)5,$.%)+)/#$I323($()5#+72#
()+$()2+3$5#D#+7%$H575#()#+343%3O$+372)5#$2,)/37/)5#$%#+$H3,$%35:7#KM-)#()5H-<5#()#,7(7#
27#)5#,$2#7/3@32$%#+7:7#E$.N$:75#+/)N(7LF#

P2 # )5,) # 2-)47 # +72,)=,7 # 5) # $./)2 # )5+)2$/375 # I-,-/75 # @3/$2(7 # )2 # ,7/27 # () # ()5$//7%%75#

H7,)2+3$%)5#4353.%)5#)#324353.%)5F#G$#325,$-/$+392#()#-2#,)+27>I$5+35:7#3:H)/3$%#+-)2,$#$%#
H$/)+)/#)2#)%#H/)5)2,)#+7:7#5)/3$5#.$5)5#()#$H7D7#)43()2+3$($5#$#%7#%$/@7#()#%$#)/$#
A-5EF#8-2M-)#)5)#H7()/N7#)5,S#():$53$(7#)2%$O$(7#+72#%$#+/3535#)2#+-/57J#nE$5,$#M-)#
H-2,7 # %$ # +/3535 # H-)() # %%)@$/ # $ # (),)/37/$/ # 5)/3$:)2,) # (3+E$ # $%,)/2$,34$ # E$5,$ # E$+)/%$#
3:H/$+,3+$.%)oF#a,/$#H)/5H)+,34$ #02/'/7,!.# )5#%$#()#5-H)/434)2+3$#()#+$H3,$%35:75#()#.$B$#
32,)253($( # ,$2,7 # )2 # )% # $+,-$% # +)2,/7 # +7:7 # )2 # %$ # H)/3I)/3$J # 5)/N$2 # %$ # )=H/)5392 # () # -2$#
H/7%72@$($#()+$()2+3$#532#5-H)/$+372)5#)2#)%#+$:327#K-2$#5-)/,)#()#05)'8+!8,&85/'5&.*
H7./)#D#()@/$($(7LF
G$ # 5-H)/$+392 # E-:$235,$J # )=,)2(3)2(7 # %$ # %3.)/,$( # D # %$ # 57%3($/3($(J # $.7%3)2(7#
()53@-$%($()5J#H$/)+)/N$#-2$#-,7HN$#)2,)//$($#)2#)%#H$5$(7J#532#):.$/@7#-2$#:3/$($#
E35,9/3+$#H/7I-2($#275#H)/:3,3/N$#()5+-./3/#-2#32+/)N.%)#53@%7#gg#K+$53#324353.%)L#5)H-%,$(7#
H7/ # )% # 43/,-$%35:7 # 2)7%3.)/$%F # P2 # )5) # 53@%7 # D # H7/ # H/3:)/$ # 4)O # )2 # %$ # E35,7/3$ # () # %$5#
+343%3O$+372)5 # +)2,)2$/)5 # () # :3%%72)5 # () # 5)/)5 # E-:$275 # )B)/+3)/72 # 5-5 # ()/)+E75#

'0
():7+/S,3+75#$-2M-)#)2#2-:)/7575#+$575#)5,75#I-)/72#%-)@7#.$5,$/()$(75#7#$H%$5,$(75J#
32@/)5$/72#)2#532(3+$,75J#)%3@3)/72#$-,7/3($()5J#E3+3)/72#/)47%-+372)5#H7H-%$/)5#)#32+%-57#
$%@-2$5#57+3$%35,$5F#
;S5#$-2J#.$B7#%$#/)+3)2,)#:7()/23O$+392#I32$2+)/3O$($#K2)7%3.)/$%L#5)#E$2#:-%,3H%3+$(7#%$5#
/)()5#()#+7:-23+$+392#K32,)/2),L#E$+3)2(7#H753.%)5#I7/:$5#I-,-/$5#()#H$/,3+3H$+392#D#()#
)B)/+3+37 # () # ():7+/$+3$ # (3/)+,$ # 2-2+$ # $2,)5 # 3:$@32$($5F # P5,) # )27/:) # H7,)2+3$%#
():7+/S,3+7 #E$#):H)O$(7#$#()5H%)@$/ #$%@-2$5#)=H/)5372)5#()#%7 #M-)#H7(/N$ #%%)@$/#$#
+725,3,-3/#-2$#$%,)/2$,34$#7#-2#$.$23+7#H%-/$%#()#$%,)/2$,34$5#()#(3:)25392#-234)/5$%F#

E(%,"',3*+,4/

\7(/N$:75#H)/37(3O$/#,7(7#)%#()5$//7%%7#()%#+$H3,$%35:7#32(-5,/3$%#-,3%3O$2(7#-2$#+-/4$#)2#
I7/:$ # () # +$:H$2$ # M-) # /)H/)5)2,$/N$ # %$ # ,/$D)+,7/3$ # ,):H7/$% # () # -2 # 32(3+$(7/ # ()%#
(32$:35:7#()%#535,):$#(343(3($#)2#+-$,/7#H)/N7(75F

12#H/3:)/#H)/N7(7J#)%#:S5#%$/@7#H7(/N$#5)/#()I323(7#+7:7#()#R,&0$+&-$1#()B(?"%6J#5-5#
+/3535#()#57./)H/7(-++392#I-)/72#)2#T%,3:$#325,$2+3$#+/3535#()#+/)+3:3)2,7J#%-)@7#()#+$($#
@/$2#,-/.-%)2+3$#)%#535,):$#5)#)=H$2(N$J#:)B7/$.$#+-$2,3,$,34$:)2,)#D#+-$%3,$,34$:)2,)J#)%#
7H,3:35:7 # E35,9/3+7 # KH/7@/)535:7 # ()/34$(7 # ()% # 3%-:3235:7L # (7:32$.$ # %$ # +-%,-/$ # () # %$5#
+%$5)5 # (7:32$2,)5J # 5-5 # 5$M-)75 # +7%723$%)5 # )/$2 # 435-$%3O$(75 # +7:7 # E35,9/3+$:)2,)#
H753,3475#()5()#%$5#57+3)($()5#+)2,/$%)5#KD#()5()#%$5#)%3,)5#+7%723$%)5LF#d$:.3<2#)/$#435,$#
()#:$2)/$#H753,34$#%$#5-H)/)=H%7,$+372#()#/)+-/575#2$,-/$%)5#27#/)274$.%)5#H/)5)2,$($#
+7:7#H/7)O$#,<+23+$#D#+3)2,NI3+$J#)%#:3,7#()#-2$#/)47%-+392#,)+27%9@3+$#32I323,$#5)#325,$%9#
()#:$2)/$#(-/$.%)F####
\)/7#)2#)%#+$H3,$%35:7#B74)2#5)#5-+)(N$2#+/3535#M-)#$-2M-)#5-H)/$($5#()B$.$2#5)+-)%$5#
2)@$,34$5 # E$5,$ # )2@)2(/$/ # I32$%:)2,) # -2 # H7()/ # H$/$53,$/37 # I32$2+3)/7 # M-) # E$+3$#
+7:3)2O75#()%#53@%7#gg#()4327#(7:32$2,)F

'"
Q2@/)5$:75 # )2,72+)5 # )2 # -2 # 5)@-2(7 # H)/N7(7 # () # R,&0$+&-$1#( ) #&89'(6# (72() # %$#
32,)/4)2+392#)5,$,$%J#B-2,7#$#%75#H$/$53,35:75#:3%3,$/#D#I32$2+3)/7J#+7253@-3)/72#+72,/7%$/#%$5#
5-+)534$5 # +/3535 # () # 57./)H/7(-++392 # () # %$5 # M-) # ):)/@3)/72 # $%@-275 # 5N2,7:$5 # ()#
()+$()2+3$F # P5,$ # +72I-5392 # E35,9/3+$ # )2,/) # +7:H72)2,)5 # () # ()+$()2+3$ # +72 # 7,/75 # ()#
)I3+$+3$ # D # H/7@/)57 # +7%7+9 # 5-+)534$5 # .7:.$5 # () # ,3):H7 # )2 # %75 # H/7+)575 # () # /-H,-/$#
H)/3I</3+$J # +72 # :$D7/ # +$/@$ # ,/S@3+$ # )2 # $M-)%%75 # M-) # $2-2+3$.$2 # %$ # 5-H)/$+392 # ()%#
+$H3,$%35:7F # G$5 # H/3:)/$5 # I35-/$5 # @/$4)5 # ()% # :-2(7 # .-/@-<5 # ./32($/72 # )5H$+375#
I$47/$.%)5 # H$/$ # %$5 # /)47%-+372)5 # $2,33:H)/3$%35,$5 # D # 57+3$%35,$5 # H)/3I</3+$5 # H)/7 # %$#
E)@):72N$#+-%,-/$%#()%#+$H3,$%35:7#%$5#)2+$()29#$#:-+E75#()#5-5#:3,75#+725-:35,$5J#
,)+27%9@3+75J#$(:3235,/$,3475J#),+F#p35,$5#()5()#%$#%$/@$#(-/$+392#()#%$#E35,7/3$#H7(/N$:75#
4)/#$#)5,$5#/)47%-+372)5#+7:7#H/7+)575#H372)/75J#+-%,-/$%:)2,)#(<.3%)5J#$2,)#%75#+-$%)5#
)% # :-2(7 # .-/@-<5 # +)(39 # )5H$+37 # K$ # ):H-B72)5L # $-2M-) # H-(7 # I32$%:)2,) # $+7//$%$/%75J#
4)2+)/%75J#32,)@/$/%75#$#5-#()+$()2+3$F##########

G$#,)/+)/$#),$H$#)5#%$#()%#,&0$+&-$1#()1"%$-##K'"L#323+3$(7#)2#%75#$V75#'"Y*#$#%7#%$/@7#()%#
+-$%#5)#()5$//7%%9#-2$#+/3535#+/923+$#()#57./)H/7(-++392#M-)#$+)%)/9#%$#I32$2+3)/3O$+392#
()%#+$H3,$%35:7#E$5,$#5)/#E)@):923+$#3:H723)2(7#5-#5)%%7#$#%$#+-%,-/$#-234)/5$%F#?-2,7#$%#
+S2+)/#I32$2+3)/7#5)#)=H$2(3)/72#%$5#:S5#4$/3$($5#I7/:$5#()#H$/$53,35:7#D#()#5$M-)7#()#
/)+-/575 # 2$,-/$%)5 # D # )5,/-+,-/$5 # H/7(-+,34$5 # H)/3I</3+$5F # P% # +/)+3:3)2,7 # ()% # U7:H%)B7#
;3%3,$/#Q2(-5,/3$%#27#5)#(),-47#+72#)%#I32#()#%$#_-)//$#c/N$#5327#M-)#%%)@9#$#234)%)5#2-2+$#
$2,)5#$%+$2O$(75F
b-/$2,) # %$ # :$D7/ # H$/,) # () # %$ # )/$ # ()% # +$H3,$%35:7 # 5)23% # %$5 # +/3535 # +$,$5,/9I3+$5 # I-)/72#
3:H)(3($5J # /)@-%$($5 # @/$+3$5 # $% # 325,/-:)2,$% # () # 32,)/4)2+392 # E)/)($(7 # () # %$ # )/$#
e)D2)53$2$J#%$#@/$2#+/3535#I-)#H75,)/@$($#H)/7#27#)%3:32$($#()%#E7/3O72,)F#G$#+/3535#+/923+$#
() # 57./)H/7(-++392 # $57+3$($ # $ # %$ # 5-H)/)=H%7,$+392 # () # %75 # /)+-/575 # 2$,-/$%)5 # $H-2,$#
$E7/$ # +%$/$:)2,) # E$+3$ # -2$ #,'$1$1 ) 3"%"'&- ) 8" ) 19;0'(89,,$2%# 323+3$($ # +72 # %$5 # +/3535#
)2)/@<,3+$#D#$%3:)2,$/3$F #G(&(#(&;"'"&()&#,#$(;*& &$(+/")46,+"&'()&+*1,$*),#;"&A5(&
1%"+)*;*0*&>*0(%&$(%;,/*'"&+"/&)*#&+%,#,#&'(&#501%"'5++,4/&'(&)*#&+,2,),3*+,"/(#&
*/$(%,"%(#=&#")"&*-(+$*'"&1"%&+%,#,#&'(&#"0%(1%"'5++,4/&>*#$*&*>"%*&+"/$%")*'*#=&
$(%;,/* & >*+,* & () & -,/*) & & '( & #5 & +,+)" & 6(/(%*/'" & 5/* & +%,#,# & '( & #501%"'5++,4/&
1)*/($*%,*=&)*&;*<"%&'(&)*&>,#$"%,*&>5;*/*F##
c32$%:)2,)#)5,$%%$2#,7($5#%$5#H+%,#,#I#()#:$2)/$#+$53#+72B-2,$#D#)%#535,):$#4$#32@/)5$2(7#
)2#-2$#O72$#()#,(-&01(7###

!*
 !"#$%"&$'()*+),-.
()5$//7%%7#,)+27%9@3+7
%3.)/$%35:7
#)=H$25392#+7%723$%
)=H%7,$+392#$#@/$2#
)5+$%$#()#/)+-/575# )=H$25392
2$,-/$%)5 I32$2+3)/$
+$/.92 #+$H3,$%35:7#32(-5,/3$% 5-.7/(32$($
:3%3,$/35:7#
.-/@-<5####)2# H$/$53,35:7#
):./372$/37
$5+)257#D#+7257%3($+392#
()%#P5,$(7#.-/@-<5 #U/3535#B-4)23%)5#()#57./)H/7(-++392

#()5$//7%%7#,)+27%9@3+7
!"#$%"&$'()*("/01)
#/-H,-/$5#H)/3I</3+$5
#)=H%7,$+392#$#@/$2#
H),/9%)7 #)5+$%$#()#/)+-/575#
######2$,-/$%)5#
#+$H3,$%35:7#32(-5,/3$%#I32$2+3)/7 #)=H$25392#
## #U7:H%)B7#;3%3,$/#Q2(-5,/3$% I32$2+3)/$#
H%$23I3+$+392 (7:32$2,)
#)5,$,35:7 #+/3535#()#
#()5$//7%%7#H$/$53,$/37

#2"#$%"&$'()*'-.$&
#()5$//7%%7#,)+27%9@3+7
########57I35,3+$(7
#/)+7%723O$+372)5#H)/3I</3+$5#
/)+7%723O$+372)5#
#5-H)/)=H%7,$+392 2)7%3.)/$%35:7
#$#)5+$%$#@%7.$%#()#
/)+-/575#2$,-/$%)5
#+$H3,$%35:7#I32$2+3)/3O$(7
&1(*J&",) ##+/3535##
#$:.3)2,$%
#E3H)/,/7I3$##
#I32$2+3)/$
####+/3535
#$%3:)2,$/3$

#+/3535#+/923+$#()#57./)H/7(-++392
##E3H)/,/7I3$#()%
#U7:H%)B7# 2)7I$5+35:7
;3%3,$/ #+/3535#-/.$2$
#####Q2(-5,/3$%
##+/3535#()%# #+/3535#+-%,-/$%
####+/3535#()##
#:3%3,$/35:7
#5-.H/7(-++392#
#()+$()2+3$#()% #+/3535#H53+7%9@3+$
######P5,$(7

#2)&"#')*/-&*'$'%-("

!'
K"$*#

K'LJ#aPUbJ#R6$,372$%#8++7-2,5>;$32#8@@/)@$,)5J#'"h*>'""h`J#aPUbJ#\$/35J#'""0W##aPUb#RaPUb#P+727:3+#
a-,%77e`#K4$/375#2T:)/75LF
K!LJ#RP%#+$H3,$%35:7#M-)#32+39#5-#()5$//7%%7#+72#)%#H)M-)V7#+$H3,$%#-5-/$/37#%%)@$#$%#I32$%#()#)5,)#()5$//7%%7#
+7:7#-2#+$H3,$%#-5-/$/37#@3@$2,)5+7FFF#d7($5#%$5#+72(3+372)5#()#%$#43($#)+729:3+$#5-I/)2#-2$#:7(3I3+$+392#
H/7I-2($#$#+75)+-)2+3$#()#)5,$#()@)2)/$+392#()%#+$H3,$%35:7`#KHS@F#YhYL#FFF#Rnb72()#)5,S#%$#.$5)#()#)5,)#
I)29:)27#E35,9/3+7#-234)/5$%oF#])#)2+-)2,/$##)2#)%#H$/$53,35:7#D#)2#%$#()5+7:H753+392#()%#+$H3,$%35:7#
32E)/)2,)5#$#5-#I$5)#E35,9/3+$#5-H)/37/FFF`#KHS@F#Y!"LF#G)232J#RP%#Q:H)/3$%35:7J#I$5)#5-H)/37/#()%#+$H3,$%35:7`J#
)2#pFQFG)232J#a./$5#P5+7@3($5J#,7:7#QJ#P(3+372)5#()#G)2@-$5#P=,/$2B)/$5J#;75+-J#'"h*F###
K&LJ#63e7%$3#A-eE$/32J#RdE)7/D#7I#,E)#G)35-/)#U%$55`J#Q2,)/2$,372$%#\-.%35E)/5J#'"!YF##
######E,,H^lluuuF:$/=35,5F7/@l$/+E34)l.-eE$/32lu7/e5l'"!Yl%)35-/)>)+727:3+5l32()=FE,:#
KiLJ#P2)/@D#f$,+E#_/7-H#KE,,H^lluuuF)2)/@Du$,+E@/7-HF7/@lk)H7/,5F!iv;Z(h&Y.')&0(F*FE,:%LW#Ra3%#
k)H7/,`J#RU7$%#k)H7/,`J#R1/$23-:#k)H7/,`F
KZLJ#-2#$2S%3535#:$5#(),$%%$(7#()%#,):$#H-)()#5)/#)2+72,/$(7#)2^#?7/@)#A)325,)32F#RP%#E-2(3:3)2,7#()%#+)2,/7#
()%#:-2(7F#P5,$(75#123(75#)2,/)#%$#/)+)5392#D#)%#+7%$H57`J#k).)%392J#*0>*Z>!**0J#
E,,H^lluuuF/).)%372F7/@l27,3+3$FHEHo3(rhY*""
KhLJ#RP+727:3+#k)H7/,#7I#,E)#\/)53()2,`J#!**0F#
KYLJ#1F]F#b)H$/,:)2,#7I#?-5,3+)#>#A-/)$-#7I#?-5,3+)#],$,35,3+5F
K0LJ#8($:#G3H,$eJ#R8:)/3+$2#P=+)H,372F#Q2:$,)#U7-2,#32#1F]F#bu$/I5#a,E)/#6$,3725`J#dE)#6)u#q7/e#d3:)5J#
8H/3%#!&J#!**0
K"LJ#;$+m32()/#)5+/3.39#M-)#0K6/C4*+&5/4!*!,*-&$)A34*-&4%/4!4%),*8+!*R'/)8*+&5/4)$;*,)*/',)*564+/),*
8M6$)'/)*P*S<$/-)8T*K6/C4*+&5/4!*,)*/',)*564+/),*+&5/4)$;*!,*564+&UQ*j$%I7/(#?7E2#;$+e32()/J#RV$/%)/4*)4+ *
%9!*V$/%/'9*W!)'.B*5-#H/3:)/$#)(3+392#I-)#/)$%3O$($#H7/#j)32):$22J#G72(72J#'"*!F
K'*LJ#UE$%:)/5#?7E2572J#w_732@#.$2e/-H,^#dE)#1]x5#@/)$,)5,#,E/)$,wJ#853$#d3:)5J#!i#?$2#!**0F
K''LJ#Rj35,73/)#()5#,)+E23M-)5`J#57-5#%$#(3/)+,372#()#A$/,/$2(#_3%%)J#G$#\%<3$()J#\$/35J#'"Y0F
K'!LJ#k3,+E3)#U$%()/J#RGxE7::)#),#5)5#,)+E23M-)5`J#\$D7,J#\$/35J#'"h&F
K'&LJ#_)7/@#]3::)%J#RQ2,-3+372#()#%$#43($`J#U$/72,)#c3%757IN$J#G$#\%$,$J#!**iF#
K'iLJ#m$/%#;$/=J#a)-4/)5#\E3%757HE3M-)5J#,7:)#pQJ#P(3,3725#U75,)5J#\$/35J#'"Z*F#
K'ZLJ#Q.2#?$%(T2J#RQ2,/7(-++392#$#%$#E35,7/3$#-234)/5$%#K8%>;-M$((32:$EL`J#c72(7#()#U-%,-/$#P+729:3+$J#
;<=3+7J#bFcJ#'"YYF
K'hLJ#123,)(#6$,3725#\7H-%$,372#c-2(J#P5,$(7#()#%$#H7.%$+392#:-2(3$%>!**YF
K'YLJ#\3)//)#UE$-2-J#Rj35,73/)#),#(<+$()2+)`J#\)//32J#\$/35J#'"0'F
K'0LJ#8%$32#A3E/J#R8+,-$%35)/#%)#+7::-235:)`J#E,,H^lluuuFH%-5%732F7/@l,)=,)5lU7::-F\bc
K'"LJ#P%#+72+)H,7#()#+$H3,$%35:7#5)23%#I-)#)%$.7/$(7#)2#%75#$V75#'"Y*#H7/#k7@)/#b$2@)43%%)#Kk7@)/#
b$2@)43%%)J#R;$/=>P2@)%5F#G$#+/35)`J#)(3,3725#'*l'0J#\$/35#'"Y0L#D#/),7:$(7#)2#%$#(<+$($#$+,-$%#H7/#4$/375#
$-,7/)5#K?7/@)#A)325,)32J#RU$H3,$%35:7#])23%`J#P(3+372)5#k)+7/(J#k37#()#?$2)3/7J#!**'LJ#]$:3/#8:32#J#R8-#
()%y#(-#+$H3,$%35:)#5)23%)`J#8+,-)%#;$/=#>\1cJ#\$/35#!**!LF#

!!