!

!
!
!
!
!
!
!

!
!

!"#$%&'%()$*)"+',--%$*)+.'/*01,#,'
2"110+)*34'5,#$6'7897:';<7;'
"#$%$%&'!$&!()$%&')*!+,-)'!.%/0$1!2&--%11%&'!
3,4-%$$#5!67!3#8$#-4#9!6:;<!
!
!
!
!
!

!
!

!!!

!
3&=%)*!)'5!>=&'&-%=!.%/0$1!?=$%&'!2#'$#9!
"*&$!@7AB!20%#C!D0&-)1!?5#4&E#!F9%G#!
H-&*#!"0)1#!6B!I10#9%B!J)/&1!
D#*K!L6<MN;N@OMNO6PP!
%'C&Q1#9)=N&9/!
!
!
!
!
!
!
!
!
!

!
!
!
!
!
!
!
!

=>52/!/?'
J)/&1!R)9/%')*%S#5!2&--,'%$%#1!T&9,-!
P!H'5&!3$9##$!
>4,$#!R#$$)!UV#1$WB!J)/&1!
D#*K!L6<MN:A:6NO@7NM<@M!

!!!!!!!!!

3#8$#-4#9!67B!6:;<!
"9&CN!X#-!?'/Y#!
>Z#=,$%G#!3#=9#$)9E!
()$%&')*!+,-)'!.%/0$1!2&--%11%&'!
P!?/,%E%!I9&'1%!3$9##$!
R)%$)-)![!?4,\)B!T#5#9)*!2)8%$)*!D#99%$&9E!
!
F#)9!"9&CN!?'/Y#K!
'
?%@' ABCDCD/E' ?BF>?GDEF' !/?2BG' BHD2CD/E' >!!B2CDEF' /CI5>?>' 2/55IEDCJ4'
5>?2K'784';<7;'
'
V#! Y9%$#! 9#/)95%'/! $0#! R)9=0! ;MB! 6:;6B! 5#-&*%$%&'! )'5! C&9=#5! #G%=$%&'! &C! $0#! H$,-)9)!
2&--,'%$E! %'! $0#! J)/&1! R)%'*)'5! J&=)*! ]&G#9'-#'$! ?9#)! &C! J)/&1! 3$)$#N! D0#! 3&=%)*! )'5!
>=&'&-%=! .%/0$1! ?=$%&'! 2#'$#9! U3>.?2W! 1$)'51! )1! 2&,'1#*! &C! 9#=&95! $&! -#-4#91! &C! $0#!
H$,-)9)! 2&--,'%$EN! D0#! J)/&1! R)9/%')*%S#5! 2&--,'%$%#1! T&9,-! UJ?R2HTH.W! %1! )!
-#-4#910%8!&9/)'%S)$%&'!=&-89%1#5!&C!=&--,'%$%#1!*%G%'/!%'!%'C&9-)*!1#$$*#-#'$1!)=9&11!
J)/&1B!%'=*,5%'/!$0#!H$,-)9)!2&--,'%$EN!V#!0)G#!4##'!%'1$9,=$#5!$&!C%*#!)!8#$%$%&'!$&!$0#!
()$%&')*!+,-)'!.%/0$1!2&--%11%&'!U(+.2W!$&!1##^!)'!%'G#1$%/)$%&'!%'$&!)'5!)5\,5%=)$%&'!
&C! $0#! )=$,)*! G%&*)$%&'! &C! $0&,1)'51! &C!H$,-)9)!9#1%5#'$1_!C,'5)-#'$)*!)'5!0,-)'!9%/0$1!
%'=*,5%'/!$0#!9%/0$!$&!)=`,%9#!)'5!&Y'!89&8#9$EB!9%/0$!$&!5,#!89&=#11B!9%/0$!$&!89%G)$#!)'5!
C)-%*E!*%C#B!9%/0$!$&!*%G#*%0&&5B!9%/0$!$&!0&,1%'/!)'5!10#*$#9B!)'5!$0#!9%/0$!$&!#5,=)$%&'N!!
!
"*#)1#! C%'5! 4#*&Y! )! 8#$%$%&'! $0)$! 3>.?2! )'5! J?R2HTH.! 5#G#*&8#5! %'! =&**)4&9)$%&'! Y%$0!
$0#!H$,-)9)!2&--,'%$EN!D0#!8#$%$%&'!%1!=&-89%1#5!&C!1#G#9)*!=&-8&'#'$1B!)'!%'$9&5,=$%&'B!
)!1,--)9E!1$)$#-#'$!&C!$0#!C)=$1!&C!$0#!C&9=#5!#G%=$%&'B!)'!%11,#!C&9!5#$#9-%')$%&'B!)1!Y#**!
)1! 1,4-%11%&'1! &'! #)=0! &C! $0#! =*)%-#5! 9%/0$1! G%&*)$%&'1N! T,9$0#9-&9#B! )$$)=0#5! $&! $0%1!
8#$%$%&'!)9#!)!6<!8)9)/9)80!3,88&9$%'/!3$)$#-#'$!C9&-!?*0)\%!H/,'5#*#!X,9)%-&0!?/4#5#B!
)1!Y#**!)1!)!*%1$!&C!#Z0%4%$1N!
!
D0)'^!E&,!C&9!E&,9!,9/#'$!)$$#'$%&'!$&!$0%1!%-8&9$)'$!-)$$#9N!
!
3%'=#9#*EB!!

'
22K!
!
!

! !
?'59#Y!R)^%!!
!
3$)CC!?$$&9'#EB!3>.?2!
)'59#YN-Q1#9)=N&9/!
:A;:NM6PN@:O:!U-&4%*#W!

!
!
!
!
!

!
!
!
!
!

!
R,14),!?/4&5#-,!
3#=9#$)9EB!J?R2HTH.!
1*,-5Y#**#9N)/4&5#-,Q/-)%*N=&-!
:A:6NO@7NM<@M!U-&4%*#W!

H$,-)9)!2&--,'%$E!
20%5%!H5%'^)*,B!20)%9-)'!&C!]&G#9'%'/!2&,'=%*!(+.2!
D&'E!H\,^Y,B!F%9#=$&9!&C!"9&$#=$%&'!)'5!I'G#1$%/)$%&'B!(+.2!!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;!&C!6@!''''''''''''''''''''''''''''''
'

'
'
ABCDCD/E'?BF>?GDEF'!/?2BG'BHD2CD/E'/!'/CI5>?>'2/55IEDCJ4'78'5>?2K'
;<7;!
'

'
'
'
7L<'
'
;N;!

@3A4$##",'A6B'
3&=%)*!)'5!>=&'&-%=!.%/0$1!?=$%&'!2#'$#9!U3>.?2W!
J)/&1!R)9/%')*%S#5!2&--,'%$%#1!T&9,-!UJ?R2HTH.W!
67!3#8$#-4#9!6:;<!

DEC?/GI2CD/E'
H'! R)9=0! ;MB! 6:;6! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! C&9=%4*E! #G%=$#5! &G#9! 6B:::! U$Y&!
$0&,1)'5W! 9#1%5#'$1! )'5! -)9^#$! $9)5#91! &C! $0#! H$,-)9)! 2&--,'%$E! %'! $0#! J)/&1!
R)%'*)'5! J&=)*! ]&G#9'-#'$! ?9#)! &C! J)/&1! 3$)$#N! D0#! 3&=%)*! )'5! >=&'&-%=! .%/0$1!
?=$%&'! 2#'$#9! U3>.?2W! 1$)'51! )1! 2&,'1#*! &C! 9#=&95! $&! -#-4#91! &C! $0#! H$,-)9)!
2&--,'%$EN! D0#! J)/&1! R)9/%')*%S#5! 2&--,'%$%#1! T&9,-! UJ?R2HTH.W! %1! )!
-#-4#910%8!&9/)'%S)$%&'!=&-89%1#5!&C!=&--,'%$%#1!*%G%'/!%'!%'C&9-)*!1#$$*#-#'$1!
)=9&11! J)/&1B! %'=*,5%'/! H$,-)9)! 2&--,'%$EN! V#! 0)G#! 4##'! %'1$9,=$#5! $&! C%*#! )!
8#$%$%&'!$&!$0#!()$%&')*!+,-)'!.%/0$1!2&--%11%&'!U(+.2W!$&!1##^!)'!%'G#1$%/)$%&'!
%'$&! )'5! )5\,5%=)$%&'! &C! $0#! )=$,)*! )'5! $09#)$#'#5! G%&*)$%&'! &C! $0&,1)'51! &C!
H$,-)9)! 9#1%5#'$1_! )'5! -)9^#$! $9)5#91_! C,'5)-#'$)*! )'5! 0,-)'! 9%/0$1! %'=*,5%'/!
$0#! 9%/0$! $&! )=`,%9#! )'5! &Y'! 89&8#9$EB! 9%/0$! $&! 5,#! 89&=#11B! 9%/0$! $&! 89%G)$#! )'5!
C)-%*E! *%C#B! 9%/0$! $&! *%G#*%0&&5B! 9%/0$! $&! 0&,1%'/! )'5! 10#*$#9B! )'5! $0#! 9%/0$! $&!
#5,=)$%&'N!

'
'
;L<! MI55>?J'/!'!>2CM'
!
!C"*D"' &%#"' #=*#' #%' D3EEC"4"&#' #="' A"C%F' D344*+6' %1' 1*.#D' $D' *##*.=",' >G' E*+*)+*E='
@3EE%+#$&)' @#*#"4"&#' 1+%4' HC=*I$' 2)3&,"C"' J3+*$4%=' H)A","7' *D' F"CC' *D' *' .%CC".#$%&' %1'
"K=$A$#DL'
!
6N;! H$,-)9)! %1! )! 5#'1#*E! 8&8,*)$#5! =&--,'%$E! 1%$,)$#5! Y%$0%'! $0#! J)/&1! R)%'*)'5!
J&=)*!]&G#9'-#'$!?9#)!&C!J)/&1!1$)$#N!H$,-)9)!R)9^#$!?11&=%)$%&'!U)N^N)N!H$,-%*)9)!
R)9^#$!?11&=%)$%&'W!%1!)!9#=&/'%1#5B!9#/%1$#9#5B!)'5!/)S#$$#5!-)9^#$!1%$,)$#5!Y%$0%'!
I*)\#aH$,-)9)! 2&--,'%$EN! ?$$)=0#5! %1! $0#! )88*%=)$%&'! $&! 9#/%1$#9! )1! )! -)9^#$!
)11&=%)$%&'! UN%%' BO6)P)*' G8WB! )! *#$$#9! &C! )889&G)*! C9&-! $0#! J)/&1! R)%'*)'5! J&=)*!
]&G#9'-#'$! ?9#)B! 5)$#5! ;O! 3#8$#-4#9! ;PP6! UN%%' BO6)P)*' GQWB! )! 2#9$%C%=)$#! &C!
.#/%1$9)$%&'! (&N! :PO<! C&9! $0#! H$,-)9)! R)9^#$B! 5)$#5! T#49,)9E! 6OB! ;PPP! UN%%'
BO6)P)*' G;WB! )'5! $0#! /)S#$$#! %'! Y0%=0! $0#! #1$)4*%10-#'$! &C! $0#! H$,-)9)! R)9^#$!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

6!&C!6@!''''''''''''''''''''''''''''''
'

!
6N6N!

!
6N<N!

!
6NMN!
!
6N7N!

!
6NON!

?11&=%)$%&'!Y)1!)''&,'=#5B!J)/&1!3$)$#!])S#$$#B!(&N<<!b&*NB!<;!&C!<:!c,*E!;PPA!UN%%'
BO6)P)*'G7WN!
H'! R&'5)EB! ;6! R)9=0! 6:;6B! J)/&1! 3$)$#! ]&G#9'-#'$! &CC%=%)*1! =)-#! %'$&! $0#!
=&--,'%$E!)'5!4#/)'!$&!-)9^!1$9,=$,9#1!Y%$0!9#5!8)%'$B!%'=*,5%'/!$0#!-)9^#$!8*)=#!
)'5! 10&81B! 80&$&1! &C! Y0%=0! )9#! )$$)=0#5! UN%%' BO6)P)*N' BQRB:WN! d8&'! #'`,%9EB! )!
*)5E!%5#'$%C%#5!1%-8*E!)1!R91N!30&*)!C9&-!J)/&1!3$)$#!R%'%1$9E!&C!>'G%9&'-#'$!$&*5!
$0#! =&--,'%$E! $0)$! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! Y)'$1! $&! =&'1$9,=$! )! =)')*! C9&-!
2&1$)%'! $&! \&%'! $0#! =)')*! $0)$! 1#8)9)$#1! $0#! H$,-)9)! =&--,'%$E! C9&-! $0#! H$$&!
2&--,'%$EN!!
H'! V#5'#15)EB!;M! R)9=0! 6:;6B! R91! 30&*)! C9&-! R%'%1$9E! &C! >'G%9&'-#'$! Y%$0! )'!
#'/%'##9!)'5!1&-#!$0,/1!Y0&-!Y#!$0&,/0$!%'%$%)**E!Y#9#!8*)%'!=*&$0#5!8&*%=#!-#'!
=)-#!%'$&!$0#!=&--,'%$E!Y%$0!)'!#Z=)G)$&9!)'5!4,**5&S#9!)'5!1$)9$#5!5#-&*%10%'/!
10&81! )'5! 0&,1#1B! 80&$&1! &C! Y0%=0! )9#! )$$)=0#5! UN%%' BO6)P)*N' B7' ,+&' B;WN! V0%*#!
$0#! 5#-&*%$%&'!Y)1! /&%'/! &'B! $0#! $0,/1! )'5! 0&&5*,-1! Y#9#! 4,1E! *&&$%'/! )'5!
49#)^%'/! %'$&! &,9! 10&81! )'5! -)5#! )Y)E! Y%$0! /&&51! Y)9#1B! -&'#E! )'5! &$0#9!
G)*,)4*#1!Y&9$0!-%**%&'1!&C!()%9)N!!
HC! 1#9%&,1! =&'=#9'! %1! $0#! C)=$! $0)$! $0#9#! Y)1! '&! 89%&9! '&$%=#! &C! 5#-&*%$%&'B! '&!
=&'1,*$)$%&'!)'5!'&!=&-8#'1)$%&'!)'5!&9!9#1#$$*#-#'$!8*)'N!
"9%&9!$&!$0#!5#-&*%$%&'B!&'!T#49,)9E!6PB!6:;6!3>.?2!$#)-!-#$!Y%$0!&CC%=%)*1!C9&-!
$0#! R%'%1$9E! &C! $0#! >'G%9&'-#'$! Y0&! Y#9#! &'! )'! %'18#=$%&'! G%1%$! $&! H$,-)9)! )'5!
%'C&9-#5! $0#-! $0)$! $0#9#! Y)1! )! 8#'5%'/! =)1#! $0)$! =&'=#9'#5! $0%1! =&--,'%$E! )'5!
$0)$!)'!%'\,'=$%&'!0)5!4##'!%11,#5!%'!9#*)$%&'!$&!$0#!=)1#N!3>.?2!)'5!$0#!=&--,'%$E!
8&1$#5!'&$%=#1!&C!$0#!%'\,'=$%&'!)**!)9&,'5!$0#!=&--,'%$EB!%'=*,5%'/!&'!$0#!)-)11#5!
/&G#9'-#'$! =)$#98%**)91! )'5! 4,**5&S#91B! )1! #G%5#'=#5! 4E! 80&$&1! )$$)=0#5! UN%%'
BO6)P)*N'BQ',+&'B8WN!D0#!]&G#9'-#'$!Y&9^#91!1$)$#5!$0)$!$0#E!Y#9#!\,1$!=)99E%'/!
&,$!$0#%9!5,$%#1N!3>.?2!)55%$%&')**E!C&9-)**E!Y9&$#!$&!$0#!?$$&9'#E!]#'#9)*!&C!J)/&1!
3$)$#B! =&8E%'/! )**! &$0#9! 9#*#G)'$! J)/&1! 3$)$#! ),$0&9%$%#1B! '&$%CE%'/! $0#-! &C! &'/&%'/!
*%$%/)$%&'! =&'=#9'%'/! $0#! H$,-)9)! =&--,'%$EB! )'5! )'! #Z%1$%'/! &95#9! &C! $0#! +%/0!
2&,9$!'&$!$&!=)99E!&,$!)'E!5#-&*%$%&'1!Y%$0%'!$0#!=&--,'%$E!UN%%'BO6)P)*N'F79FSWN!
D0)$!)C$#9!$0#!5#-&*%$%&'B!$0#!H$,-%*)9)!R)9^#$!?11&=%)$%&'!Y9&$#!1#9%#1!&C!*#$$#91!
$&! G)9%&,1! &CC%=#1B! -%'%1$9%#1! )'5! &$0#9! )9-1! &C! /&G#9'-#'$1! %'! Y0%=0! Y#!
=&-8*)%'#5! )4&,$! $0#! 5#-&*%$%&'! )'5! C&9=%4*#! #G%=$%&'! &C! &,9! -#-4#91! )'5! &$0#9!
R)9^#$!,1#91!)'5!1##^%'/!$0#!/&G#9'-#'$1!%'$#9G#'$%&'N!D0#1#!*#$$#91!%'=*,5#5K!
)N H'! R)9=0! 6@B! 6:;6B! 2*)%-)'$! Y9&$#! $0#! +&'&,9)4*#! 2&--%11%&'#9! &C! $0#!
R%'%1$9E! &C! J&=)*! ]&G#9'-#'$! )'5! 20%#C$)%'=E! ?CC)%91! )'5! =&8%#5! $0#! J)/&1!
3$)$#! ]&G#9'&9_1! HCC%=#B! $0#! J)/&1! 3$)$#! R%'%1$9E! &C! c,1$%=#B! $0#! R%'%1$9E! &C!
>'G%9&'-#'$B! $0#! 20)%9-)'! J&=)*! ]&G#9'-#'$! R)%'*)'5B! $0#! J)/&1! 3$)$#!
+&,1#!&C!?11#-4*EB!D0#!?9#)!2&--)'5)'$!?9#)!2B!$0#!FN"NH!I8&'9%B!IE)!H\)!
R)9^#$! J#)5#9! R)%'*)'5B! 3>.2B! )'5! -#5%)B! 9#/)95%'/! $0#! eM&I3D#$1$*AC"'
!3CC$&)' N%F&' 23+' 2#34*+*' <*+O"#f! 4E! 4,**5&S#91! )'5! =&'$9)=$&91! C9&-!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

<!&C!6@!''''''''''''''''''''''''''''''
'

V#5'#15)E!;M$0!$&!T9%5)E!;O$0!&C!R)9=0B!6:;6!UN%%'BO6)P)*'>7WN!
!
4N H'!?89%*!<B!6:;6B!H$,-%*)9)!R)9^#$!?11&=%)$%&'!Y9&$#!$0#!2&--%11%&'#9!C&9!
c,1$%=#!)'5!?$$&9'#E!]#'#9)*!C&9!$0#!J)/&1!3$)$#!]&G#9'-#'$g!$0#!]&G#9'&9!
&C! J)/&1! 3$)$#! )'5! =&8%#5! $0#! J)/&1! 3$)$#! R%'%1$9E! &C! >'G%9&'-#'$! )'5! $0#!
(#Y1!?/#'=E!&C!(%/#9%)g!$0#!38#)^#9!C&9!$0#!J)/&1!3$)$#!+&,1#!&C!?11#-4*E!
)'5! =&8%#5! +&'&,9)4*#! X)10%9,! H*&$&g! )'5! $0#! "9#1%5#'$! &C! $0#! T#5#9)*!
.#8,4*%=! &C! (%/#9%)! 9#/)95%'/! $0#! e@2@' -%+.",' /0$.#$%&' *&,' N"4%C$#$%&' %1'
2#34*+*'<*+O"#P5%443&$#6f!)1^%'/!$0)$!$0#!J)/&1!3$)$#!]&G#9'-#'$!*),'=0!
)'! e%'G#1$%/)$%&'! %'$&! $0#! =%9=,-1$)'=#1! $0)$! *#5! $&! $0#! 5#-&*%$%&'! &C!
H$,-)9)! R)9^#$! )'5! $0#! =&--,'%$E! Y%$0&,$! 89%&9! '&$%=#B! =&'1,*$)$%&'! )'5!
=&-8#'1)$%&'f! &9! 8)E-#'$! $&! )'E! -#-4#91! &C! 2*)%-)'$! )'5! $0)$! $0#!
/&G#9'-#'$! =&-8#'1)$#! )'5! 9#*&=)$#! $0&1#! Y0&! Y#9#! #CC#=$#5! 4E! $0#!
5#-&*%$%&'!UN%%'BO6)P)*N'>;',+&'>QWN!
!
=N H'! ?89%*! 7B! 6:;6B! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! R%'%1$9E! &C! c,1$%=#!
?=^'&Y*#5/#5!9#=#%8$!&C!$0#!R)9=0!6@$0B!6:;6!*#$$#9!UN%%'BO6)P)*'>TWN!
!
!
6NAN!
!
6NP!

'
'
QL<'
!

5N H'! ?89%*! ;<B! 6:;6B! $0#! HCC%=#! &C! $0#! "9#1%5#'$! &C! $0#! 3#')$#! )=^'&Y*#5/#5!
9#=#%8$!&C!$0#!?89%*!<B!6:;6!*#$$#9!UN%%'BO6)P)*'>UWN!
F#18%$#!)**!$0#!#CC&9$1!)'5!#'$9#)$%#1!$0#!J)/&1!3$)$#!]&G#9'-#'$!0)1!%/'&9#5!)'5!&9!
9#C,1#5!$&!9#*&=)$#B!=&-8#'1)$#!)'E!&C!$0#!)CC#=$#5!-#-4#9!&C!H$,-)9)!=&--,'%$EN!!!
?==&95%'/*EB!9#89#1#'$)$%G#1!&C!$0#!H$,-)9)!2&--,'%$E!'&Y!)889&)=0!$0#!()$%&')*!
+,-)'!.%/0$1!2&--%11%&'!1##^%'/!5#$#9-%')$%&'!&C!$0#!%11,#!*)%5!&,$!4#*&YB!4)1#5!
&'! Y0%=0! $0#E! 89)E! C&9! 9#*%#C1! %'=*,5%'/! =#9$)%'! 5#=*)9)$%&'1B! )'! %'\,'=$%&'! )/)%'1$!
C,$,9#! ,'*)YC,*! C&9=#5! #G%=$%&'1B! )'5! /#'#9)*! =&-8#'1)$%&'! $&! $0#! =&--,'%$E!
-#-4#91!)'5!-)9^#$!$9)5#91!Y0&!0)G#!4##'!5%18*)=#5!)'5!1,CC#9#5!1&!-)'E!0)9-1!
$0)$!)-&,'$!$&!)=$%&')4*#!$&9$1!)1!Y#**!)1!G%&*)$%&'1!&C!$0#%9!C,'5)-#'$)*!9%/0$1N!!
DMMIBM'!/?'GBCB?5DE>CD/E'
!""#$%&''Q="#="+'#="'<*+.='89:8;7'>?8>7',"4%C$#$%&'%1'2#34*+*'5%443&$#6',%"D'&%#'
.%&D#$#3#"' *' 1%+.",' "0$.#$%&7' $&' 0$%C*#$%&' %1' #="' +$)=#' #%' *,"R3*#"' =%3D$&)' %+' D="C#"+'
3&,"+' #="' S&#"+&*#$%&*C' 5%0"&*&#' %&' /.%&%4$.7' @%.$*C' *&,' 53C#3+*C' ($)=#D7' #="'
S&#"+&*#$%&*C' 5%0"&*&#' %&' 5$0$C' *&,' !%C$#$.*C' ($)=#D7' *&,' #="' H1+$.*&' 5=*+#"+' %&'
T34*&'*&,'!"%EC"UD'($)=#DL'
'
!""#$%(''Q="#="+'#="',"D#+3.#$%&'%1'E+%E"+#6'*&,'%#="+'*A3D"D'*&,'=*+4D'.%44$##",'
,3+$&)' #="' <*+.=' 89:8;7' >?8>7' ,"4%C$#$%&' %1' 2#34*+*' 5%443&$#6' ,%' &%#' .%&D#$#3#"'
0$%C*#$%&D'%1'#="'13&,*4"&#*C'+$)=#D'%1'+"D$,"&#D'%1'#="'2#34*+*'5%443&$#67'$&.C3,$&)'
#="'+$)=#'#%'*.R3$+"'*&,'%F&'E+%E"+#67'+$)=#'#%',3"'E+%."DD7'+$)=#'#%'E+$0*#"'*&,'1*4$C6'
C$1"7' +$)=#' #%' C$0"C$=%%,7' *&,' #="' +$)=#' #%' ",3.*#$%&' *D' )3*+*&#"",' 3&,"+' #="' 8VVV'
5%&D#$#3#$%&'%1'#="'-","+*C'("E3AC$.'%1'W$)"+$*'*&,'#="'H1+$.*&'5=*+#"+'%1'T34*&'*&,'

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

M!&C!6@!''''''''''''''''''''''''''''''
'

!"%EC"DU' ($)=#D7' #="' S&#"+&*#$%&*C' 5%0"&*&#' %&' 5$0$C' *&,' !%C$#$.*C' ($)=#D7' *&,' #="'
S&#"+&*#$%&*C'5%0"&*&#'%&'/.%&%4$.7'@%.$*C'*&,'53C#3+*C'($)=#DL'

!
!
8L<' MIV5DMMD/EM' /E' DMMIB' 7@' !/?2BG' BHD2CD/E' W' HD/=>CD/E' /!' ?DFKC' C/'
>GBXI>CB'K/IMDEF'/?'MKB=CB?'
!
MN;! V#! 1,4-%$! $0)$! $0#! R)9=0! ;M! [! ;OB! 6:;6! 5#-&*%$%&'1! &C! 0&-#1! %'! $0#! H$,-)9)!
2&--,'%$E! G%&*)$#1! $0#%9! )*+,-% -.% /0$1#/-$% ,.#"*2+% .)% ",$3-$)! $0)$! 5#9%G#1! C9&-!
?9$%=*#! ;;N;! &C! $0#! I2>32.B! ?9$%=*#1! ;MB! ;OB! ;A! &C! $0#! ?C9%=)'! 20)9$#9! U)1!
5&-#1$%=)$#5WB!)'5!$0#!;PPP!2&'1$%$,$%&'!&C!(%/#9%)!U)1!)-#'5#5WN!I'!=)99E%'/!&,$!
$0#! 5#-&*%$%&'! &C! H$,-)9)! -)9^#$! 4E! $0#! J)/&1! 3$)$#! ]&G#9'-#'$B! -)'E! 0&,1#1!
#9#=$#5!)*&'/!1%5#!$0#!-)9^#$!Y#9#!5#-&*%10#5N!D0#1#!0&,1#1!Y#9#!C,**E!&==,8%#5!
#%$0#9!4E!$#')'$1!&9!$0#!0&,1#!&Y'#91N!D0#!0&,1#1!Y#9#!5#-&*%10#5!$&!Y)E!C&9!$0#!
=&'1$9,=$%&'! &C! =)')*B! )'5! Y#9#! 5#-&*%10#5! Y%$0&,$! )'E! 89%&9! '&$%=#1! $&! $0#%9!
9#18#=$%G#!&Y'#91!)'5!&9!&==,8%#91N!!!!!
!
MN6! ?9$%=*#!;;N;!&C!$0#!I2>32.!1$)$#1!$0)$!)**!8)9$%#1!$&!$0#!I2>32.!-,1$!e9#=&/'%S#!$0#!
9%/0$! &C! #G#9E&'#! $&! )'! )5#`,)$#! 1$)'5)95! &C! *%G%'/! C&9! 0%-1#*C! )'5! 0%1! C)-%*EB!
%'=*,5%'/!)5#`,)$#!C&&5B!=*&$0%'/!)'5!0&,1%'/B!)'5!$&!$0#!=&'$%',&,1!%-89&G#-#'$!
&C! *%G%'/! =&'5%$%&'1N! D0#! 3$)$#1! ")9$%#1! Y%**! $)^#! )889&89%)$#! 1$#81! $&! #'1,9#! $0#!
9#)*%S)$%&'! &C! $0%1! 9%/0$B! 9#=&/'%S%'/! $&! $0%1! #CC#=$! $0#! #11#'$%)*! %-8&9$)'=#! &C!
%'$#9')$%&')*!=&a&8#9)$%&'!4)1#5!&'!C9##!=&'1#'$Nf!
!
MN<! D0#! d(! 2&--%$$##! &'! >=&'&-%=B! 3&=%)*! )'5! 2,*$,9)*! .%/0$1B! $0#! 4&5E! &C!
%'5#8#'5#'$!#Z8#9$1!#1$)4*%10#5!$&!%'$#989#$!$0#!I2>32.!)'5!-&'%$&9!1$)$#!8)9$%#1!
=&-8*%)'=#B!0)1!C,9$0#9!#*)4&9)$#5!$0#!'&9-)$%G#!=&'$#'$1!&C!$0#!9%/0$!$&!)5#`,)$#!
0&,1%'/N!D0#!2&--%$$##!89&G%5#1!),$0&9%$)$%G#!%'$#989#$)$%&'!&C!$0#!=&'$#'$!&C!$0#!
9%/0$! $&! )5#`,)$#! 0&,1%'/! )'5! $0#! &4*%/)$%&'1! &C! 1$)$#1! %'! ]#'#9)*! 2&--#'$! M! U&'!
$0#! 9%/0$! $&! )5#`,)$#! 0&,1%'/W! )'5! ]#'#9)*! 2&--#'$! @! U&'! C&9=#5! #G%=$%&'1WN!
?==&95%'/!$&!]#'#9)*!2&--#'$!M!U;<!F#=#-4#9!;PP;B!8)9)N!@WB!!
!
X="'+$)=#'#%'=%3D$&)'D=%3C,'&%#'A"'$&#"+E+"#",'$&'*'&*++%F'%+'+"D#+$.#$0"'
D"&D"'F=$.='"R3*#"D'$#'F$#=7'1%+'"K*4EC"7'#="'D="C#"+'E+%0$,",'A6'4"+"C6'
=*0$&)' *' +%%1' %0"+' %&"UD' ="*,' %+' 0$"FD' D="C#"+' "K.C3D$0"C6' *D' *'
.%44%,$#6L' (*#="+' $#' D=%3C,' A"' D""&' *D' #="' +$)=#' #%' C$0"' D%4"F="+"' $&'
D".3+$#67'E"*."'*&,',$)&$#6L'
!
MNM! I'!45678%9:%;*+$)*/B!2"110+)$,*)"+'7SSWY:B!$0#!?C9%=)'!2&--%11%&'!&'!+,-)'!
)'5! "#&8*#1_! .%/0$1! 9#*%#5! &'! ?9$%=*#1! ;MB! ;OB! )'5! ;AU;W! &C! $0#! ?C9%=)'! 20)9$#9! %'!
C%'5%'/! (%/#9%)'! ]&G#9'-#'$! %'! G%&*)$%&'! &C! $0#! 9%/0$! $&! 10#*$#9! &9! 0&,1%'/! &C! $0#!
H/&'%!=&--,'%$EN!D0#1#!)9$%=*#1!&C!$0#!?C9%=)'!20)9$#9!0)G#!4##'!5&-#1$%=)$#5!%'$&!
(%/#9%)'!*)Y!%'!$0#%9!&Y'!9%/0$!)'5!)*1&!%'C&9-!$0#!%'$#989#$)$%&'!&C!1%-%*)9!9%/0$1!
/,)9)'$##5!%'!$0#!(%/#9%)'!2&'1$%$,$%&'N!?9$%=*#!;MB!5%1=,11#5!)4&G#B!/,)9)'$##1!$0#!
9%/0$!$&!89&8#9$EN!?9$%=*#!;O!/,)9)'$##1!$0#!e9%/0$!$&!#'\&E!$0#!4#1$!)$$)%')4*#!1$)$#!
&C!80E1%=)*!)'5!-#'$)*!0#)*$0Bf!Y0%=0!0)1!4##'!C&,'5!4E!$0#!?C9%=)'!2&--%11%&'!$&!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

7!&C!6@!''''''''''''''''''''''''''''''
'

!
MN7!!

!
MNO!

!
MN@!

!
MNA!

=&'$)%'B!4E!%-8*%=)$%&'1B!$0#!4)1%=!1&=%&#=&'&-%=!9%/0$1!$&!Y)$#9!)'5!C&&5!$0)$!)9#!
'#=#11)9E!$&!)=0%#G#!0#)*$0N!?9$%=*#!;AU;WB!-#)'Y0%*#B!89&G%5#1!89&$#=$%&'1!C&9!$0#!
C)-%*EK!eD0#!C)-%*E!10)**!4#!$0#!')$,9)*!,'%$!)'5!4)1%1!&C!1&=%#$EN!I$!10)**!4#!89&$#=$#5!
4E!$0#!3$)$#Nf!!
D0#!?C9%=)'!2&--%11%&'!0)1!C&,'5!$0)$!$0#!=&-4%'#5!#CC#=$!&C!?9$%=*#1!;MB!;OB!)'5!
;AB!9#)5!$&/#$0#9B!eC&94%51!$0#!Y)'$&'!5#1$9,=$%&'!&C!10#*$#9!4#=),1#!Y0#'!0&,1%'/!
%1!5#1$9&E#5B!89&8#9$EB!0#)*$0B!)'5!C)-%*E!*%C#!)9#!)5G#91#*E!)CC#=$#5Nf!X)1#5!&'!$0%1!
9#)1&'%'/B! $0#! 2&--%11%&'! C&,'5! $0#! (%/#9%)'! ]&G#9'-#'$_1! 5#-&*%$%&'1! %'! $0#!
H/&'%! =&--,'%$E! $&! =&'1$%$,$#! )! G%&*)$%&'! &C! $0#! =&--,'%$E_1! 9%/0$1! $&! 10#*$#9! &9!
0&,1%'/N!!
D0#! #Z%1$#'=#! &C! )! 9%/0$! $&! 10#*$#9! &9! 0&,1%'/! )*1&! C%'51! )-8*#! 1,88&9$! %'! $0#!
(%/#9%)'! 2&'1$%$,$%&'N! D0#! (%/#9%)'! 2&'1$%$,$%&'! =&'$)%'1! $0#! 1)-#! C,'5)-#'$)*!
9%/0$1! C9&-! Y0%=0! $0#! 9%/0$! $&! 10#*$#9! &9! 0&,1%'/! 5#9%G#1B! $&! Y%$! $0#! 9%/0$1! $&!
89&8#9$E! =&'$)%'#5! %'! 3#=$%&'1! M<! )'5! MM! $0#! 9%/0$! $&! 0&-#! )'5! 89%G)$#! *%C#! %'!
3#=$%&'! <@N! D0#1#! 9%/0$1! =)'! 4#! 9#)5! %'! *%/0$! &C! 20)8$#9! IIB! 3#=$%&'! ;MU6WU5W! &C! $0#!
2&'1$%$,$%&'B! Y0%=0! 1$)$#1! $0)$! $0#! ]&G#9'-#'$! 10)**! 5%9#=$! %$1! 8&*%=%#1! $&Y)95! $0#!
89&G%1%&'!&C!1,%$)4*#!)'5!)5#`,)$#!10#*$#9N!
D0#! d(! 2&--%$$##! &'! >=&'&-%=B! 3&=%)*! )'5! 2,*$,9)*! .%/0$1! 5#C%'#1! )! <.)=$0%
$9*=-*.2!)1!e$0#!8#9-)'#'$!&9!$#-8&9)9E!9#-&G)*!)/)%'1$!$0#%9!Y%**!&C!%'5%G%5,)*1B!
C)-%*%#1! )'5h&9! =&--,'%$%#1! C9&-! $0#! 0&-#1! )'5h&9! *)'5! Y0%=0! $0#E! &==,8EB!
Y%$0&,$! $0#! 89&G%1%&'! &CB! )'5! )==#11! $&B! )889&89%)$#! C&9-1! &C! *#/)*! &9! &$0#9!
89&$#=$%&'f! Ud(! 2&--%$$##! &'! >32.B! ]#'#9)*! 2&--#'$! (&N! @B! 8)9)N! <! U3%Z$##'$0!
1#11%&'B!6:!R)E!;PP@WB!>h;PPAh66B!?''#Z!IbWN!
D0#! 2&--%$$##! 0)1! #-80)1%S#5! $0)$! #G%=$%&'1! -)E! &'*E! 4#! =)99%#5! &,$! )1! )! *)1$!
9#1&9$! )'5! &'*E! )C$#9! )**! C#)1%4*#! )*$#9')$%G#1! $&! #G%=$%&'! 0)G#! 4##'! #Z8*&9#5! %'!
/#',%'#!=&'1,*$)$%&'!Y%$0!$0#!)CC#=$#5!8#&8*#N!I$!0)1!=*)9%C%#5!$0)$!#G%=$%&'1!=)'!&'*E!
4#! =)99%#5! &,$! Y0#'! )889&89%)$#! 89&=#5,9)*! 89&$#=$%&'1! )9#! %'! 8*)=#N! D0#1#!
%'=*,5#K;!

)'!&88&9$,'%$E!C&9!/#',%'#!=&'1,*$)$%&'!Y%$0!$0&1#!)CC#=$#5g!

)5#`,)$#!)'5!9#)1&')4*#!'&$%=#!C&9!)CC#=$#5!8#&8*#!89%&9!$&!$0#!#G%=$%&'!

%'C&9-)$%&'! &'! $0#! 89&8&1#5! #G%=$%&'1! )'5B! Y0#9#! )88*%=)4*#B! &'! $0#!
)*$#9')$%G#! 8,98&1#! C&9! Y0%=0! $0#! *)'5! &9! 0&,1%'/! %1! $&! 4#! ,1#5B! $&! 4#!
-)5#!)G)%*)4*#!%'!9#)1&')4*#!$%-#!$&!)**!$0&1#!)CC#=$#5g!

/&G#9'-#'$! &CC%=%)*1! &9! $0#%9! 9#89#1#'$)$%G#1! $&! 4#! 89#1#'$! 5,9%'/! )'!
#G%=$%&'g!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
;!D0%1!C9)-#Y&9^!%1!$)^#'!C9&-!eIC!i&,!J&G#!i&,9!J%C#B!R&G#!H,$jK!T&9=#5!>G%=$%&'!%'!X)5%)!>)1$B!J)/&1!3$)$#B!

(%/#9%)Bf!?-'#1$E!I'$#9')$%&')*!)'5!3&=%)*!)'5!>=&'&-%=!.%/0$1!?=$%&'!2#'$#9!UdkK!?,/,1$B!6:;<WN!!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

O!&C!6@!''''''''''''''''''''''''''''''
'

#G#9E&'#!%'G&*G#5!%'!=)99E%'/!&,$!$0#!#G%=$%&'!4#!89&8#9*E!%5#'$%C%#5g!

#G%=$%&'1!'&$!$&!$)^#!8*)=#!%'!8)9$%=,*)9*E!4)5!Y#)$0#9!&9!)$!'%/0$!,'*#11!
$0#!)CC#=$#5!8#&8*#!=&'1#'$!&$0#9Y%1#g!

89&G%1%&'!&C!*#/)*!9#-#5%#1g!

89&G%1%&'B!Y0#9#!8&11%4*#B!&C!*#/)*!)%5!$&!8#&8*#!Y0&!)9#!%'!'##5!&C!%$!$&!
1##^!9#59#11!C9&-!$0#!=&,9$1g!!

89&G%1%&'! &C! )5#`,)$#! )*$#9')$%G#! 0&,1%'/! $&! $0&1#! Y0&! =)''&$! 89&G%5#!
C&9!$0#-1#*G#1g!)'5!!

!
MNP!

=&-8#'1)$%&'!C&9!)**!*&11#1N!

D0#! #G%=$%&'! &C! $0#! H$,-)9)! 2&--,'%$E! $0)$! $&&^! 8*)=#! &'! R)9=0! ;Ma;O! 6:;6!
=&'1$%$,$#1!)!C&9=#5!#G%=$%&'!4#=),1#!'&'#!&C!$0#!)4&G#!89&=#5,9)*!89&$#=$%&'1!Y#9#!
%'!8*)=#N!
)N D0#! J)/&1! 3$)$#! ]&G#9'-#'$! 5%5! '&$!=&'1,*$! Y%$0!$0#! H$,-)9)!2&--,'%$EN!
(&! %'C&9-)$%&'! )4&,$! $0#! 5#-&*%$%&'! )'5! =&'1$9,=$%&'! &C! )! 59)%')/#! =)')*!
Y)1! -)5#! 8,4*%=*E! )G)%*)4*#! $&! $0#! =&--,'%$EN! (&'#! &C! $0#! =&--,'%$E!
*#)5#91B! %'=*,5%'/! 9#89#1#'$)$%G#1! &C! $0#! H$,-)9)! R)9^#$! ?11&=%)$%&'B! Y#9#!
=&'1,*$#5!4E!$0#!J)/&1!3$)$#!]&G#9'-#'$!&9!$0#!9#*#G)'$!-%'%1$9E!)4&,$!$0#!
8*)''#5!89&\#=$N!I'1$#)5B!$0#!=&--,'%$E!C%91$!*#)9'#5!)4&,$!$0#!8&11%4%*%$E!&C!
)! 89&\#=$! ! 1%$#5! %'! $0#%9! )9#)! Y0#'! )! 89%G)$#! =&'$9)=$%'/! =&-8)'E! ')-#5!
F9#5/%'/! )'5! 2&'1$9,=$%&'! ?*$#9')$%G#1B! J$5NB! 4#/)'! )-)11%'/! =)$#98%**)91!
)'5!4,**5&S#91!)5\)=#'$!$&!$0#!=&--,'%$EN!!
!
4N D0#! J)/&1! 3$)$#! ]&G#9'-#'$! 89&G%5#5! $0#! H$,-)9)! 2&--,'%$E! Y%$0! '&!
'&$%=#N!H'!R)9=0!;6B!6:;<B!$Y&!5)E1!4#C&9#!$0#!5#-&*%$%&'!&'#!Y&-)'!Y0&!
1%-8*E! %5#'$%C%#5! 0#91#*C! )1! R91N! 30&*)! C9&-! $0#! J)/&1! 3$)$#! R%'%1$9E! &C! $0#!
>'G%9&'-#'$!=)-#!Y%$0!1&-#!8#&8*#!$&!$0#!R)9^#$!)'5!8)%'$#5!elf!-)9^%'/1!
%'! 9#5! 8)%'$! &'! ',-#9&,1! 1$9,=$,9#1B! %'=*,5%'/! R)9^#$! 1$)**1N! I$! Y)1! &'*E!
$09&,/0!89&4%'/!#'`,%9%#1!4E!$0#!=&--,'%$E!$0)$!R91N!30&*)!9#G#)*#5!$&!$0#!
=&--,'%$E! $0)$! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! Y)'$#5! $&! =&'1$9,=$! )! =)')*!
C9&-!2&1$)%'!$&!\&%'!$0#!#Z%1$%'/!=)')*!)5\)=#'$!$&!$0#!H$,-)9)!R)9^#$B!Y0%=0!
1#8)9)$#1! $0#! H$,-)9)! =&--,'%$%#1! C9&-! $0#! H$$&! =&--,'%$%#1N!
.#89#1#'$)$%G#1! &C! $0#! R)9^#$! ?11&=%)$%&'! )'5! $0#! H$,-)9)! =&--,'%$E!
%--#5%)$#*E!Y#'$!$&!$0#!R%'%1$9E!&C!>'G%9&'-#'$!$0#!C&**&Y%'/!5)E!$&!8*#)5!
C&9! $%-#! $&! #')4*#! -)9^#$! $9)5#91! )'5! 0&,1#0&*51! $&! 9#-&G#! $0#%9! G)*,)4*#!
4#*&'/%'/1N!R91N!30&*)!9#8*%#5!$0)$!10#!Y&,*5!-)^#!1&-#!#'`,%9#1!Y%$0%'!$0#!
R%'%1$9EN!D0#!'#Z$!5)EB!&'!R)9=0!;MB!6:;<!$0#!5#-&*%$%&'!4#/)'N!
=N D0#!89&=#11!&C!$0#!#G%=$%&'!%$1#*C!Y)1!C9),/0$!Y%$0!89&4*#-1N!+,'59#51B!%C!'&$!
$0&,1)'51B! &C! )CC#=$#5! 8#91&'1! Y#9#! ,')4*#! $&! 9#1=,#! $0#%9! G)*,)4*#!
4#*&'/%'/1! 4#C&9#! $0#! 4,**5&S#91! 5#-&*%10#5! $0#%9! 1$9,=$,9#1! )'5! -)9^#$!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

@!&C!6@!''''''''''''''''''''''''''''''
'

1$)**1N!2&,'$*#11!8*)%'!=*&$0#5!%'5%G%5,)*1!)11%1$#5!%'!$0#!5#-&*%$%&'B!=)99E%'/!
1*#5/#0)--#91!)'5!&$0#9!$&&*1N!!
5N D0#! J)/&1! 3$)$#! ]&G#9'-#'$! 89&G%5#5! '&! *#/)*! 9#-#5%#1! C&9! $0#! )CC#=$#5!
8#91&'1N!(&!%'C&9-)$%&'!Y)1!&CC%=%)**EB!8,4*%=*E!5%11#-%')$#5!$&!$0#!H$,-)9)!
=&--,'%$E!4#C&9#!$0#!5#-&*%$%&'!=&--#'=#5B!&9!)$!)'E!8&%'$!$0#9#)C$#9N!

#N (&!=&-8#'1)$%&'!Y)1!8)%5B!&9!)*$#9')$%G#!0&,1%'/!89&G%5#5!$&!$0&1#!Y0&!*&1$!
$0#%9! 0&-#1N! F#18%$#! $0#! C)=$! $0)$! $0#! H$,-)9)! R)9^#$! Y)1! )! /&G#9'-#'$!
9#/%1$#9#5! )'5! )889&G#5! -)9^#$B! )'5! 5#18%$#! $0#! C)=$! $0)$! $0#! -)9^#$!
G#'5&91! 0)G#! =&'1%1$#'$*E! 8)%5! $0#%9! 5,#1B! '&! =&-8#'1)$%&'! Y)1! 8)%5! $&!
$9)5#91! Y0&! *&1$! $0#%9! /&&51! )'5! &$0#9! 8&11#11%&'1! 5,9%'/! $0#! 5#-&*%$%&'N!
R)'E! %'5%G%5,)*1! *&1$! $0#%9! 0&-#1! $&! $0#! 5#-&*%$%&'B! )'5! )1! )! 9#1,*$! Y#9#!
9#'5#9#5!0&-#*#11N!!

!
MN;:! V#! 9#18#=$C,**E! ,9/#! $0#! ()$%&')*! +,-)'! .%/0$1! 2&--%11%&'! $&! C%'5! $0)$! $0#!
5#-&*%$%&'! &C! 0&-#1! )'5! 4,1%'#11#1! &'! R)9=0! ;Ma;OB! <:;<! 4E! $0#! J)/&1! 3$)$#!
]&G#9'-#'$! =&'1$%$,$#1! )! C&9=#5! #G%=$%&'B! )1! 5#C%'#5! ,'5#9! %'$#9')$%&')*! *)YB! )'5!
=&'1#`,#'$*E!)!G%&*)$%&'!&C!$0#!9%/0$!$&!0&,1%'/!)'5!10#*$#9N!!
!
!
SL<' MIV5DMMD/EM'/E'DMMIB';@'/CKB?'!IEG>5BEC>='?DFKCM'HD/=>CD/EM'
!
7N;! ?1! 5#$)%*#5! )4&G#B! )'5! %'! $0#! )$$)=0#5! 6<! 8)9)/9)80! 3,88&9$%'/! 3$)$#-#'$! C9&-!
?*0)\%! H/,'5#*#! X,9)%-&0! ?/4#5#B! $0#! R)9=0! ;MB! 6:;6! 5#-&*%$%&'1! 9#1,*$#5! %'!
=&,'$*#11!%'\,9%#1!$&!9#1%5#'$1!&C!$0#!H$,-)9)!2&--,'%$EN!D0#!5#-&*%$%&'!9#1,*$#5!
%'! $0#! 5#1$9,=$%&'! )'5! *&11! &C! G)*,)4*#! 89&8#9$%#1! &C! &G#9! $Y&! $0&,1)'5! 9#1%5#'$1!
)'5! -)9^#$! $9)5#91! Y0&! Y#9#! 9#'5#9#5! 0&-#*#11! )'5! 5#89%G#5! &C! $0#%9! -#)'1! &C!
*%G#*%0&&5B!Y%$0&,$!)'E!5,#!89&=#11!&C!*)YN!
!
7N6! V#!9#18#=$C,**E!1,4-%$!$0)$!$0#1#!C)=$1!)-&,'$!$&!',-#9&,1!)55%$%&')*!G%&*)$%&'1!&C!
$0#! H$,-)9)! 2&--,'%$E! 9#1%5#'$1_! )'5! -)9^#$! $9)5#91_! C,'5)-#'$)*! )'5! 0,-)'!
9%/0$1! /,)9)'$##5! ,'5#9! $0#! ;PPP! 2&'1$%$,$%&'B! $0#! ?C9%=)'! 20)9$#9! &C! +,-)'! )'5!
"#&8*#1_!.%/0$1!U)1!5&-#1$%=)$#5WB!$0#!I'$#9')$%&')*!2&G#')'$!&'!2%G%*!)'5!"&*%$%=)*!
.%/0$1B!)'5!$0#!I'$#9')$%&')*!2&G#')'$!&'!>=&'&-%=B!3&=%)*B!)'5!2,*$,9)*!.%/0$1N!
!
7N<! V#! '&Y! )559#11! #)=0! )55%$%&')*! C,'5)-#'$)*! 9%/0$1! G%&*)$%&'! &'#! 4E! &'#N! D0#!
H$,-)9)! 2&--,'%$E! 9#18#=$C,**E! )889&)=0#1! $0#! ()$%&')*! +,-)'! .%/0$1!
2&--%11%&'!C&9!9#59#11!4E!Y)E!&C!5#=*)9)$&9E!)'5!#`,%$)4*#!9#*%#C1N!
!
'
'
>*.3/-*.2"%.<%6*+,-%-.%7=1#*)$%/20%?@2%A).B$)-C%
'
7N7! I'! $0#! =&,91#! &C! $0#! R)9=0! ;M! [! ;OB! 6:;6! 5#-&*%$%&'B! &G#9! 6B:::! 8#91&'1! Y#9#!
)CC#=$#5!$09&,/0!*&11!&C!$0#%9!0&-#1B!4,1%'#11!8*)=#1!)'5!=&--,'%$E!1$9,=$,9#1N!D0#!
$9)5#91! *&1$! $0#%9! /&&51B! Y)9#1B! -&'#E! )'5! &$0#9! G)*,)4*#1B! 89&8#9$E! &Y'#91! *&1$!
$0#%9!0&,1#1B!1$)**1B!1$&9#1B!10&81!)'5!1$9,=$,9#1!Y0%*#!&Y'#91!&C!0&,1#1!=*&1#!$&!$0#!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

A!&C!6@!''''''''''''''''''''''''''''''
'

!
7NO!

!
7N@!

!
7NA!

'

-)9^#$! 0)5! $0#%9! 0&,1#1! 5#-&*%10#5N! D0#1#! 1$9,=$,9#1! Y#9#! 5#-&*%10#5! Y%$0!
=)$#98%**)91B!1*#5/#a0)--#91!)'5!&$0#9!$&&*1B!9#'5#9%'/!$0#-!*&1$!%'!G)*,#!C&9!$0#%9!
&Y'#91N!F,#!$&!$0#!10&9$!&9!'&'#Z%1$#'=#!'&$%=#B!-)'E!)*1&!*&1$!G)*,)4*#!4#*&'/%'/1!
$0)$!Y#9#!%'1%5#!$0#!1$9,=$,9#1N!
V#! 1,4-%$! $0)$! $0#! 5#-&*%$%&'! &C! 0&-#1B! 4,1%'#11! 89#-%1#1B! )'5! =&--,'%$E!
C)=%*%$%#1B! =),1%'/! *)9/#a1=)*#! *&11! &C! 89&8#9$E! Y%$0&,$! 5,#! 89&=#11B! )'E!
=&-8#'1)$%&'! &9! )! 5#-&'1$9)$#5! 8,4*%=! '##5B! %1! )! G%&*)$%&'! &C! $0#! =&'1$%$,$%&')*!
9%/0$!$&!)=`,%9#!)'5!&Y'!4&$0!-&G)4*#!)'5!%--&G)4*#!89&8#9$E!)'5!$0#!89&$#=$%&'1!
/,)9)'$##5!,'5#9!3#=$%&'1!M<!m!MMU;W!U)!m!4W!&C!$0#!2&'1$%$,$%&'!)'5!?9$%=*#1!;M!m!
6;!&C!$0#!?C9%=)'!20)9$#9N!
V#! C,9$0#9! 1,4-%$! $0)$! $0#! C&9=#5! )=`,%1%$%&'! )'5! 5#-&*%$%&'! &C! 0&-#1B! 4,1%'#11!
89#-%1#1B!)'5!=&--,'%$E!C)=%*%$%#1B!=),1%'/!*)9/#a1=)*#!*&11!&C!89&8#9$E!Y%$0&,$!5,#!
89&=#11B!)5#`,)$#!=&-8#'1)$%&'!&9!)!5#-&'1$9)$#5!8,4*%=!'##5B!%1!)!G%&*)$%&'!&C!$0#!
=&'1$%$,$%&')*! 9%/0$! $&! )=`,%9#! )'5! &Y'! 4&$0! -&G)4*#! )'5! %--&G)4*#! 89&8#9$E!
/,)9)'$##5! ,'5#9! 3#=$%&'1! M<! m! MMU;W! U)! m! 4W! &C! $0#! ;PPP! 2&'1$%$,$%&'! )'5! $0#!
0,-)'! 9%/0$1! /,)9)'$##5! 4E! ?9$%=*#1! ;M! m! 6;! &C! $0#! ?C9%=)'! 20)9$#9B! )-&'/! &$0#9!
%'$#9')$%&')*!%'1$9,-#'$1!$&!Y0%=0!(%/#9%)!%1!8)9$EN!
D0#! (%/#9%)'! 2&'1$%$,$%&'! /,)9)'$##1! )**! %'5%G%5,)*1! Y%$0&,$! 5%1=9%-%')$%&'! &9!
`,)*%C%=)$%&'B!$0#!9%/0$!$&!)=`,%9#!)'5!&Y'!89&8#9$E!)'5!$&!C9##*E!,1#!)'5!#'\&E!1,=0!
89&8#9$E!Y%$0&,$!%'$#9C#9#'=#N!38#=%C%=)**EB!3#=$%&'1!M<!)'5!MM!&C!$0#!2&'1$%$,$%&'!&C!
(%/#9%)!89&G%5#!$0)$K!
9GL''@3AI".#'#%'#="'E+%0$D$%&D'%1'#=$D'5%&D#$#3#$%&7'"0"+6'.$#$Y"&'%1'W$)"+$*'
D=*CC'=*0"'#="'+$)=#'#%'*.R3$+"'*&,'%F&'$44%0*AC"'E+%E"+#6'*&6F="+"'
$&'W$)"+$*L'
99L''Z8['W%'4%0"*AC"'E+%E"+#6'%+'*&6'$&#"+"D#'$&'*&'$44%0*AC"'E+%E"+#6'
D=*CC'A"'#*O"&'E%DD"DD$%&'%1'.%4E3CD%+$C6'*&,'&%'+$)=#'%0"+'%+'$&#"+"D#'$&'
*&6'D3.='E+%E"+#6'D=*CC'A"'*.R3$+",'.%4E3CD%+$C6'$&'*&6'E*+#'%1'W$)"+$*'
"K."E#' $&' #="' 4*&&"+' *&,' 1%+' #="' E3+E%D"' E+"D.+$A",' A6' *' C*F' #=*#7'
*4%&)'%#="+'#=$&)D'

'
'

!
7NP!

Z*['("R3$+"D'#="'E+%4E#'E*64"&#'%1'.%4E"&D*#$%&'#="+"%1'*&,'
ZA[' \$0"D' #%' *&6' E"+D%&' .C*$4$&)' D3.=' .%4E"&D*#$%&' *' +$)=#' %1'
*.."DD' 1%+' #="' ,"#"+4$&*#$%&' %1' =$D' $&#"+"D#' $&' #="' E+%E"+#6' *&,'
#="' *4%3&#' %1' .%4E"&D*#$%&' #%' *' .%3+#' %1' C*F' %+' #+$A3&*C' %+'
A%,6'=*0$&)'I3+$D,$.#$%&'$&'#=*#'E*+#'%1'W$)"+$*L'
V#! 1,4-%$! $0)$! $0#! =&-4%'#5! C&9=#! &C! 3#=$%&'1! M<! )'5! MM! &C! $0#! (%/#9%)'!
2&'1$%$,$%&'! #'1,9#! $0#! 1)'=$%$E! &C! )**! 89&8#9$EB! 4&$0! -&G)4*#! )'5! %--&G)4*#B! 4E!
89&0%4%$%'/! $0#! $)^%'/! &C! 1,=0! 89&8#9$E! Y%$0&,$! =&G#9! &C! *)YB! =&-8#'1)$%&'B! )'5!
)==#11!$&!$0#!=&,9$1N!!XE!%-8*%=)$%&'B!3#=$%&'!MM!9#)CC%9-1!$0#!9%/0$!$&!&Y'B!8&11#11B!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

P!&C!6@!''''''''''''''''''''''''''''''
'

,1#! )'5! #'\&E! 4&$0! -&G)4*#! )'5! %--&G)4*#! 89&8#9$EB! 1%'=#! Y%$0&,$! 1,=0! 9%/0$1!
$0#9#! Y&,*5! 4#! '&! '##5! C&9! )! 89&0%4%$%&'! &'! $0#! $)^%'/! &C! 89&8#9$EN! ! D0#1#!
89&$#=$%&'1!)9#!)*1&!=&'1%1$#'$!Y%$0!$0#!=&--&'!*)Y!=&'=#8$%&'!&C!89&8#9$EB!Y0%=0!
0)1! *&'/! 9#=&/'%S#5! $0)$! $0#! 9%/0$! $&! 89&8#9$E! %'=*,5#1! $0#! 9%/0$! $&! ,1#! )'5!
#'\&E-#'$B!$&!$0#!#Z=*,1%&'!&C!)**!&$0#91N!
!
7N;:! D0#! 89&$#=$%&'1! &CC#9#5! 4E! 3#=$%&'! MM! &C! $0#! 2&'1$%$,$%&'! )9#! 49&)5B! =&G#9%'/! )**!
$E8#1! &C! 89&8#9$E! )'5! )'E! C&9-! &C! %'$#9#1$N! ! ?1! 1,=0B! $0#1#! 89&$#=$%&'1! #Z$#'5! '&$!
&'*E!$&!*)'5B!4,$!)*1&!$&!%--&G)4*#!89&8#9$EB!1,=0!)1!4,%*5%'/1!)'5!C%Z#5!1$9,=$,9#1B!
)'5! $&! -&G#)4*#! 89&8#9$EB! %'=*,5%'/! 0&,1#0&*5! %$#-1N! 2&'1#`,#'$*EB! C&9=#5!
#G%=$%&'1! )'5! 5#-&*%$%&'1! E+$4*' 1*.$"! G%&*)$#1! $0#! =&'1$%$,$%&')*! 9%/0$! $&! 89&8#9$EB!
9#/)95*#11!&C!Y0#$0#9!$0#!%'5%G%5,)*!Y0&1#!0&-#!%1!5#-&*%10#5!0)5!$%$*#!$&!$0#!*)'5B!
4#=),1#B! )$! )! -%'%-,-B! $0#E! 9#1,*$! %'! $0#! 5#1$9,=$%&'! &C! 0&,1%'/! -)$#9%)*1! )'5!
0&,1#0&*5!/&&51N!
!
7N;;! D0#1#!=&'1$%$,$%&')*!9#`,%9#-#'$1!)9#!4,$$9#11#5!)'5!%'C&9-#5!4E!?9$%=*#1!;M!)'5!
;O! &C! $0#! ?C9%=)'! 20)9$#9B! Y0%=0! %1! 4%'5%'/! *)Y! %'! (%/#9%)! ,'5#9! 3#=$%&'! ;6! &C! $0#!
2&'1$%$,$%&'N'?9$%=*#!;M!&C!$0#!?C9%=)'!20)9$#9!/,)9)'$##1!$0#!9%/0$!$&!89&8#9$E!)'5!
89&G%5#1!$0)$!%$!e-)E!&'*E!4#!#'=9&)=0#5!,8&'!%'!$0#!%'$#9#1$!&C!8,4*%=!'##5!&9!%'!
$0#! /#'#9)*! %'$#9#1$! &C! $0#! =&--,'%$E! )'5! %'! )==&95)'=#! Y%$0! $0#! 89&G%1%&'1! &C!
)889&89%)$#!*)Y1Nf!?9$%=*#!6;U6W!)*1&!89&G%5#1!9#*%#C!%C!?9$%=*#!;M!%1!G%&*)$#5K!eI'!=)1#!
&C!18&*%)$%&'!$0#!5%18&11#11#5!8#&8*#!10)**!0)G#!$0#!9%/0$!$&!$0#!*)YC,*!9#=&G#9E!&C!
%$1!89&8#9$E!)1!Y#**!)1!$&!)'!)5#`,)$#!=&-8#'1)$%&'Nf!?1!Y)1!9#=#'$*E!=&'C%9-#5!4E!
$0#!?C9%=)'!2&--%11%&'!&'!+,-)'!)'5!"#&8*#1_!.%/0$1!U?C9%=)'!2&--%11%&'W!%'!$0#!
8$2-)$% <.)% D*2.)*-C% 6*+,-"% E$9$3.BF$2-% GH$2C/I% /20% D*2.)*-C% 6*+,-"% J).#B%
!2-$)2/-*.2/3% .2% K$,/3<% .<% 520.).*"% L$3</)$% 8.#2=*3% >":% H$2C/B! 2&--,'%=)$%&'!
(&N!6@O!h!6::<K'
!
]X^="'#"D#'C*$,'%3#'$&'H+#$.C"'89'%1'#="'5=*+#"+'$D''.%&I3&.#$0"7'#=*#'$D7'$&'
%+,"+'1%+'*&'"&.+%*.=4"&#'&%#'#%'A"'$&'0$%C*#$%&'%1'H+#$.C"'897'$#'43D#'A"'
E+%0"&' #=*#' #="' "&.+%*.=4"&#' F*D' $&' #="' $&#"+"D#' %1' #="' E3AC$.'
&"",P)"&"+*C' $&#"+"D#' %1' #="' .%443&$#6' *&,' F*D' .*++$",' %3#' $&'
*..%+,*&."'F$#='*EE+%E+$*#"'C*FL'
!
7N;6! D0,1B! $0#! ?C9%=)'! 20)9$#9! 9#%$#9)$#1! $0#! 9%/0$! $&! =&-8#'1)$%&'! )*9#)5E! /,)9)'$##5!
4E!$0#!(%/#9%)'!2&'1$%$,$%&'B!)55%'/!$0#!9#`,%9#-#'$!$0)$!1,=0!=&-8#'1)$%&'!4#!'&$!
&'*E!E+%4E#B!4,$!)*1&!*,"R3*#"N!D0#!?C9%=)'!20)9$#9!)*1&!9#%$#9)$#1!$0)$!$0#!$)^%'/!&C!
89&8#9$E! -,1$! 4#! $&' *..%+,*&."' F$#=' #="' E+%0$D$%&D' %1' *EE+%E+$*#"' C*FDB! Y0%=0!
9#%'C&9=#1!$0#!/,)9)'$##!%'!$0#!(%/#9%)'!2&'1$%$,$%&'!$0)$!)!8#91&'!)CC#=$#5!4E!$0#!
$)^%'/! &C! 89&8#9$E! -,1$! 0)G#! )==#11! $&! )! =&,9$! &C! *)Y! C&9! $0#! 5#$#9-%')$%&'! &C!
=&-8#'1)$%&'N! V#! 1,4-%$! $0)$! )5#`,)$#! =&-8#'1)$%&'! -,1$! '&$! &'*E! =&-8#'1)$#!
$0#! )CC#=$#5! 8#91&'1! C&9! $0#! G)*,#! &C! $0#! 89&8#9$E! $)^#'! &9! 5#1$9&E#5B! 4,$! )*1&! $0#!
&$0#9! 0)9-1! $0#E! -)E! 1,CC#9! )1! )! =&'1#`,#'=#! &C! 0)G%'/! $0#%9! 89&8#9$E!
$)^#'h5#1$9&E#5!4E!]&G#9'-#'$N!
!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;:!&C!6@!''''''''''''''''''''''''''''''
'

7N;<! T%')**EB! $0#! ?C9%=)'! 20)9$#9! 1,88*#-#'$1! $0#! e&G#99%5%'/! 8,4*%=! 8,98&1#f!
9#`,%9#-#'$! %'! $0#! J)'5! d1#! ?=$B! 1$)$%'/! $0)$! $0#! 9%/0$! $&! 89&8#9$E! [! )'E! C&9-! &C!
89&8#9$E![!-)E!&'*E!4#!#'=9&)=0#5!e%'!$0#!%'$#9#1$!&C!E3AC$.'&"",!&9!%'!$0#!/#'#9)*!
%'$#9#1$!&C!$0#!=&--,'%$ENf!V#!1,4-%$!$0)$B!C&9!$0%1!=&,9$!$&!5#$#9-%'#!$0)$!)!$)^%'/!
&C!89&8#9$E!%1!\,1$%C%#5!4E!1,=0!*'E3AC$.'&"",'%+'#="')"&"+*C'$&#"+"D#'%1'#="'.%443&$#6B!
$0#! ]&G#9'-#'$! -,1$! 5#-&'1$9)$#! $0)$! -#)1,9#5! %'! $0#! 4)*)'=#! &C! #`,%$EB! $0#!
,9/#'=E!&C!$0#!8,4*%=!'##5!&9!)'5!$0#!%-8&9$)'=#!&C!$0#!/#'#9)*!%'$#9#1$!&,$Y#%/01!
$0#!0)9-!1,CC#9#5!4E!$0#!8#91&'1!Y0&!)9#!5#89%G#5!&C!$0#%9!89&8#9$E!)'5!$0,1!)9#!
-&1$!%--#5%)$#*E!)CC#=$#5N!D0%1!=)*=,*)$%&'!-,1$!$)^#!%'$&!=&'1%5#9)$%&'!$0#!&$0#9!
9%/0$1!/,)9)'$##5!4E!$0#!2&'1$%$,$%&'!)'5!$0#!?C9%=)'!20)9$#9!$0)$!)9#!)*1&!)$!1$)^#N!
R&9#&G#9B! $0#! ]&G#9'-#'$_1! 89&8&1#5! )=$%&'! 10&,*5! 4#! #G)*,)$#5! %'! *%/0$! &C! 4&$0!
#`,%$E! )'5! $0#! 5%9#=$%G#! 89%'=%8*#1! #'109%'#5! %'! $0#! 20)8$#9! II! &C! $0#! (%/#9%)'!
2&'1$%$,$%&'B! %'=*,5%'/! 89&G%1%&'! &C! 1,%$)4*#! )'5! )5#`,)$#! 10#*$#9! ,'5#9! 3#=$%&'!
;OU6WB!$0#!89&G%1%&'!&C!8,4*%=!)11%1$)'=#!$&!$0&1#!%'!'##5!,'5#9!3#=$%&'!;@U<WU/WB!$0#!
89&-&$%&'! &C! C)-%*E! *%C#! ,'5#9! 3#=$%&'! ;@U<WU0WB! )'5! )1! )! 89%-)9E! 8,98&1#! &C!
]&G#9'-#'$!,'5#9!3#=$%&'!;MU6WU4WB!$0#!8#&8*#_1!1#=,9%$E!)'5!Y#*C)9#N!
!
7N;M! 3,=0! %'$#989#$)$%&'! &C! ?9$%=*#! ;M! %1! %'! *%'#! Y%$0! $0#! 9#)1&'%'/! &C! $0#! ?C9%=)'!
2&--%11%&'B!Y0%=0!%'!$0#!520.).*"%L$3</)$%8$2-$)%>":%H$2C/!U3,89)W!)$!8)9)/9)80!
6;MB!0#*5!$0)$!e)'E!*%-%$)$%&'1!&'!9%/0$1!-,1$!4#!89&8&9$%&')$#!$&!)!*#/%$%-)$#!'##5B!
)'5!10&,*5!4#!$0#!*#)1$!9#1$9%=$%G#!-#)1,9#1!8&11%4*#Nf!?88*E%'/!$0#!e8,4*%=!%'$#9#1$!
$#1$f!,'5#9!?9$%=*#!;M!$&!C%'5!$0)$!k#'E)_1!5%18*)=#-#'$!&C!$0#!>'5&9&%1!=&--,'%$E!
Y)1!5%189&8&9$%&')$#!$&!$0#!8,4*%=!%'$#9#1$!)11#9$#5B!$0#!2&--%11%&'!*%'^#5!$0%1!$#1$!
$&!$0#!#CC#=$!$0#!5%18*)=#-#'$!0)5!&'!$0#!=*)%-)'$1_!9%/0$!$&!*%C#!)'5!*%G#*%0&&5!)'5!
$0#! 89%'=%8*#1! &C! 0,-)'! 5%/'%$EN! I$! '&$#5B! -&9#&G#9B! $0)$! %C! $0#! ]&G#9'-#'$! 0)5!
5#-&'1$9)$#5!!
!
*' C")$#$4*#"' *$4' ]#=*#^' D"+0",' *' E3AC$.' &"",7' $#' .%3C,' =*0"' A""&'
*..%4EC$D=",'A6'*C#"+&*#$0"'4"*&D'E+%E%+#$%&*#"'#%'#="'&"",L'-+%4'#="'
"0$,"&."' D3A4$##",' A%#=' %+*CC6' *&,' $&' F+$#$&)7' $#' $D' .C"*+' #=*#' #="'
.%443&$#6' F*D' F$CC$&)' #%' F%+O' F$#=' #="' \%0"+&4"&#' $&' *' F*6' #=*#'
+"DE".#",'#="$+'E+%E"+#6'+$)=#D_L'
!
7N;7! D0#! 1,--)9E! 5#-&*%$%&'! &C! 0&-#1B! 4,1%'#11! 89#-%1#1B! =&--,'%$E! 1$9,=$,9#1B!
=),1%'/! *&11! &C! %--&G)4*#! 89&8#9$E! )'5! -&G)4*#! 89&8#9$E! =&'$)%'#5! $0#9#%'B!
Y%$0&,$! 5,#! 89&=#11! &C! *)YB! %1! )! =*#)9! G%&*)$%&'! &C! $0#! 9%/0$! $&! 89&8#9$E! ,'5#9! $0#!
(%/#9%)'! 2&'1$%$,$%&'! )'5! $0#! ?C9%=)'! 20)9$#9N! I'! &95#9! $&! $)^#! 89&8#9$EB! Y0#$0#9!
$09&,/0!=&-8,*1&9E!)=`,%1%$%&'B!5#1$9,=$%&'!&9!&$0#9Y%1#B!)'5!'&$!9,'!)C&,*!&C!$0#!
2&'1$%$,$%&'! )'5! %$1! %'$#9')$%&')*! 0,-)'! 9%/0$1! &4*%/)$%&'1B! $0#! .%G#91! 3$)$#!
]&G#9'-#'$! -,1$! 89&=##5! &'*E! %'! )==&95)'=#! Y%$0! )889&89%)$#! *)Y! )'5! Y%$0!
)G)%*)4*#! 9#=&,91#! $&! $0#! =&,9$1! &C! *)YB! Y%$0! 8)E-#'$! &C! 89&-8$! )'5! )5#`,)$#!
=&-8#'1)$%&'B!)'5!C&9!5#-&'1$9)$#5!8,4*%=!'##5!)'5!%'!$0#!/#'#9)*!%'$#9#1$!&C!$0#!
=&--,'%$EN!!
!
7N;O! V%$0&,$! $)^%'/! 1,=0! 1$#81! %'! $0#! =&,91#! &C! C&9=#C,*! )=`,%1%$%&'! [! )'5! 4E! C,9$0#9!
=)99E%'/!&,$!)!1,989%1#!5#-&*%$%&'!Y%$0&,$!#')4*%'/!)CC#=$#5!8#91&'1!$&!9#-&G#!&9!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;;!&C!6@!''''''''''''''''''''''''''''''
'

89&$#=$!$0#!-&G)4*#!89&8#9$%#1![!$0#!J)/&1!3$)$#!]&G#9'-#'$!G%&*)$#5!$0#!89&8#9$E!
9%/0$1! &C! $0&,1)'51! &C! -#-4#91! &C! $0#! H$,-)9)! =&--,'%$EN! V#! 9#18#=$C,**E! ,9/#!
$0#!()$%&')*!+,-)'!.%/0$1!2&--%11%&'!$&!1&!0&*5N!
'
'
>*.3/-*.2"%.<%6*+,-%-.%E#$%A).=$""%
!
7N;@! V#! 1,4-%$! $0)$! $0#! 89&=#5,9#1! #-8*&E#5! 4E! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! %'! $0#!
R)9=0! ;M! 6:;6! 5#-&*%$%&'! &C! $0#! H$,-)9)! 2&--,'%$E! 5&! '&$! -##$! #G#'! $0#!
-%'%-,-!9#`,%9#-#'$1!&C!0#$%B).=$""!,'5#9!3#=$%&'!<O!&C!$0#!2&'1$%$,$%&'B!)1!)9#!
'#=#11)9E! %'! )! 5#-&=9)$%=! 1$)$#! $&! *%-%$! $0#! 8&Y#9! &C! /&G#9'-#'$! G%1anaG%1! %$1!
8#&8*#N!!
!
7N;A! D0#!-%'%-,-!5,#!89&=#11!%C!$0#!89#1#'$!-)$$#9!%1!=0)9)=$#9%S#5!)1!=%G%*!%'!')$,9#B!
$0#! 2&'1$%$,$%&'! #'$%$*#1! $0)$! H$,-)9)! 2&--,'%$E! $&! )! C)%9! 0#)9%'/! Y%$0%'! )!
9#)1&')4*#! $%-#! 4E! )'! %-8)9$%)*! )'5! %'5#8#'5#'$! =&,9$! &C! *)Y! &9! &$0#9! $9%4,')*N!
>G#'! %C! $0#! 89#1#'$! )=$%&'! %1! =0)9)=$#9%S#5! -#9#*E! )1! )'! #Z#=,$%G#! )/#'=E!
5#$#9-%')$%&'! &C! H$,-)9)! 2&--,'%$E_1! =%G%*! 9%/0$1B! Y0%=0! Y&,*5! %/'&9#! $0#!
#'&9-%$E!&C!$0#!8#')*$E!4#%'/!%-8&1#5!4E!$0#!J)/&1!3$)$#!]&G#9'-#'$_1!5#-&*%$%&'B!
$0#! 2&'1$%$,$%&'! 9#`,%9#1! )$! )! -%'%-,-! $0)$! H$,-)9)! 2&--,'%$E! )$! *#)1$! 0)G#! )'!
&88&9$,'%$E!$&!4#!0#)95!)'5!$&!)88#)*!$0#!)/#'=E!5#$#9-%')$%&'!4#C&9#!%$!4#=&-#1!
C%')*!)'5!-)E!4#!)=$#5!,8&'N!!
!
7N;P! ?88*E%'/!$0#1#!1$)'5)951!$&!$0#!H$,-)9)!2&--,'%$E_1!89#1#'$!1%$,)$%&'B!%$!%1!=*#)9!
$0)$! $0#! *)=^! &C! '&$%=#! )'5! $0#! 89&=#5,9#1! #-8*&E#5! 4E! $0#! J)/&1! 3$)$#!
]&G#9'-#'$_1!%'!5#-&*%10%'/!$0#!H$,-)9)!2&--,'%$E_1!0&,1#1B!4,1%'#11!89#-%1#1B!
89&8#9$%#1B! )'5! =&--,'%$E! C)=%*%$%#1! )9#! %'1,CC%=%#'$! $&! 1)$%1CE! -%'%-,-! 5,#!
89&=#11N!!
!
7N6:! "9%&9!$&!$0#!5#-&*%$%&'B!&'!T#49,)9E!6PB!6:;6!3>.?2!$#)-!-#$!Y%$0!&CC%=%)*1!C9&-!
$0#! R%'%1$9E! &C! $0#! >'G%9&'-#'$! Y0&! Y#9#! &'! )'! %'18#=$%&'! G%1%$! $&! H$,-)9)! )'5!
%'C&9-#5! $0#-! $0)$! $0#9#! Y)1! )! 8#'5%'/! =)1#! $0)$! =&'=#9'#5! $0%1! =&--,'%$E! [!
7+K.0$F#% M% ?)":% 9:% N/+."% 4-/-$% 529*).2F$2-/3% /20% 4/2*-/-*.2% 52<.)=$F$2-%
7+$2=C% G4#*-% ;.:% DOP&QO&QO(Q&&I! [! )'5! $0)$! )'! %'\,'=$%&'! 0)5! 4##'! %11,#5! %'!
9#*)$%&'! $&! $0#! =)1#N! D0#! ]&G#9'-#'$! Y&9^#91! 1$)$#5! $0)$! $0#E! Y#9#! \,1$! =)99E%'/!
&,$!$0#%9!5,$%#1N!?!=&8E!&C!$0#!2&,9$!H95#9!C&9!%'\,'=$%&'!Y)1!1#9G#5!&'!$0#!&CC%=#!&C!
$0#!2&--%11%&'#9!&C!$0#!>'G%9&'-#'$!$09&,/0!$0#!X)%*%CC!&C!$0#!+%/0!2&,9$N!!!!
!
7N6;! I$! 10&,*5! 4#! '&$#5B! -&9#&G#9B! $0)$! $0#! 5#-&*%$%&'! &C! $0#! H$,-)9)! 2&--,'%$E_1!
0&,1#1!Y&,*5!%'!-)'E!=%9=,-1$)'=#1!=&'1$%$,$#!'&$!\,1$!$0#!5#1$9,=$%&'!&C!89&8#9$E!
4,$! )*1&! )! C&9=#5! #G%=$%&'! &C! ',-#9&,1! *)'5*&951! )'5! $#')'$1N! D0#! *)Y! C9&Y'1! &'!
C&9=#5!#G%=$%&'!)'5!&'!1#*Ca0#*8!&C!)'E!^%'5N!F,#!89&=#11!&C!*)Y!%1!9#`,%9#5!4#C&9#!
)'E!*)'5*&95!=)'!9#=&G#9!8&11#11%&'!C9&-!0%1!$#')'$!&9!$0#!&==,8%#9!&C!0%1!89#-%1#1N!
T&9! %'1$)'=#B! %'! =)1#! &C! C6%' 5)Z)*,#3' F"(%#+"#' "-' =,."N' M*,*%' [' /#NL' HL' 26)%-'
B1%\,'/&01%.]0'/^0\]0'_>ZZ'E=?`';Q;4'$0#!3,89#-#!2&,9$!)11#9$#5K!
!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;6!&C!6@!''''''''''''''''''''''''''''''
'

S&' #="' *+"*' F="+"' +3C"' %1' C*F' %E"+*#"D7' #="' +3C"' %1' D"C1:="CE' A6' 1%+."' $D'
*A*&,%&",L'W$)"+$*'A"$&)'%&"'%1'#="'.%3&#+$"D'$&'#="'F%+C,'"0"&'$&'#="'
#=$+,'F%+C,'F=$.='E+%.C*$4'C%3,C6'#%'1%CC%F'#="'+3C"'%1'C*F7'#="+"'$D'&%'
+%%4'1%+'#="'+3C"'%1'D"C1'="CE'A6'1%+."'#%'%E"+*#"L'
F,#! 89&=#11! 5&#1! '&$! 8#9-%$! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! $&! )88*E! Y0%=0#G#9!
89&G%1%&'! &C! *)Y! )**&Y1! $0#! #)1%#1$! 9&,$#! C&9! &4$)%'%'/! )! 5#1%9#5! 9#1,*$B! 4,$! Y0%=0!
Y&,*5!)G&%5!$0#!9#`,%9#-#'$1!&C!$0#!*)Y!)'5!$0,1!)-&,'$!$&!1#*Ca0#*8!$)'$)-&,'$!
$&!)!C&9=#5!#G%=$%&'N!.)$0#9B!5,#!89&=#11!9#`,%9#1!$0)$!$0#!J)/&1!3$)$#!]&G#9'-#'$!
#-8*&E!$0#!89&8#9!89&=#5,9#1!,'5#9!$0#!*)Y!C&9!$)^%'/!89&8#9$EN!

!
7N66! T&9!)**!$0#!C&9#/&%'/!9#)1&'1B!Y#!1,4-%$!$0)$!$0#!-#$0&51!4E!Y0%=0!$0#!J)/&1!3$)$#!
]&G#9'-#'$! %'G)5#5! $0#! H$,-)9)! 2&--,'%$E! )'5! 5#-&*%10#5! 9#1%5#'$1_! 0&-#1B!
4,1%'#11! 89#-%1#1B! )'5! =&--,'%$E! C)=%*%$%#1! 5&! '&$! 1)$%1CE! -%'%-,-! 5,#! 89&=#11!
)'5!)9#!$0#9#C&9#!,'=&'1$%$,$%&')*!)'5!,'*)YC,*N!V#!9#18#=$C,**E!,9/#!$0#!()$%&')*!
+,-)'!.%/0$1!2&--%11%&'!$&!1&!0&*5N!!
!
'
>*.3/-*.2"%.<%6*+,-"%-.%R/F*3C%/20%A)*9/-$%N*<$S%N*9$3*,..0S%/20%50#=/-*.2%
'
7N6;! I'!)55%$%&'!$&!$0#!)4&G#!=*)%-1!4)1#5!&'!C,'5)-#'$)*!9%/0$1!G%&*)$%&'1B!Y#!1,4-%$!
$0)$! $0#! R)9=0! ;MB! 6:;6B! 5#-&*%$%&'1! &C! $0#! H$,-)9)! 2&--,'%$E! G%&*)$#! $0#!
C&**&Y%'/!C,'5)-#'$)*!)'5!0,-)'!9%/0$1B!)-&'/!&$0#91K!!
!
U;W $0#!#).6*'*"'a#)(,*%',+&'-,1)Z3'Z)-%!/,)9)'$##5!,'5#9!3#=$%&'!<@!&C!$0#!
2&'1$%$,$%&'g!
!
U6W $0#! #).6*' *"' Z)(%Z)6""&! $0)$! %1! %-8*%=%$! %'! $0#! 9%/0$! $&! *%C#! /,)9)'$##5! 4E!
3#=$%&'! <<! &C! $0#! 2&'1$%$,$%&'B! ?9$%=*#! ;7! &C! $0#! ?C9%=)'! 20)9$#9! U)1!
5&-#1$%=)$#5WB!)'5!?9$%=*#!O!&C!$0#!I2>32.g!!
!
U<W $0#!#).6*'*"'%&0$,*)"+!/,)9)'$##5!4E!$0#!J)/&1!3$)$#!20%*5!.%/0$1!J)YB!
?9$%=*#!;@!&C!$0#!?C9%=)'!20)9$#9!U)1!5&-#1$%=)$#5WB!)'5!?9$%=*#!;<!&C!$0#!
I2>32.N!!
!
7N66!! 3#=$%&'! <@! &C! $0#! 2&'1$%$,$%&'! 5#=*)9#1K! eD0#! 89%G)=E! &C! =%$%S#'1B! $0#%9! 0&-#1! o! %1!
0#9#4E! /,)9)'$##5! )'5! 89&$#=$#5Nf! V#! 1,4-%$! $0)$! $0#! 1,--)9E! 5#-&*%$%&'1!
Y%$0&,$! )5#`,)$#! '&$%=#! &9! 5,#! 89&=#11! &C! *)YB! Y0%=0! 5%18*)=#5! $0&,1)'51! &C!
9#1%5#'$1! )'5! *#C$! $0#-! 0&-#*#11B! *%G%'/! %'! &8#'! 18)=#1! )'5! ,'5#9! 49%5/#1! &9!
#*1#Y0#9#!Y%$0&,$!10#*$#9B!%1!=*#)9*E!)!G%&*)$%&'!&C!$0#!)*+,-%-.%B)*9/-$%/20%</F*3C%
3*<$N! R#-4#91! &C! H$,-)9)! =&--,'%$E! Y0&1#! 0&,1#1! Y#9#! 5#-&*%10#5! Y#9#!
9#'5#9#5!0&-#*#11!)'5!C&9=#5!$&!$)^#!10#*$#9!%'!&8#'!18)=#1!)'5!,'5#9!$0#!49%5/#N!
R)'E!Y#9#!C&9=#5!$&!)4)'5&'!$0#%9!*&G#5!&'#1!%'!1#)9=0!&C!10#*$#9N!!20%*59#'!)'5!$0#!
)/#5! Y#9#! *#C$! $&! $0#! -#9=E! &C! $0#! 0)910! Y#)$0#9! =&'5%$%&'1N! D0%1! Y#! 1,4-%$! %1! )!
G%&*)$%&'! &C! $0#%9! 5%/'%$E! &C! 0,-)'! 8#91&'B! 89%G)$#! )'5! C)-%*E! *%C#N! I'! $0#! =)1#! &C!
73*C#% !K)/,*F% 9% T,$% 8.FF*""*.2$)% .<% A.3*=$4' _;<<T`' =AB=?92>W>W77SW<SB! $0#!
2&,9$! &C! ?88#)*1! C&,'5! $0)$! C&9=#C,**E! 59)//%'/! $0#! )88*%=)'$! &,$! &C! 0%1! 0&-#!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;<!&C!6@!''''''''''''''''''''''''''''''
'

)-&,'$#5!$&!)!G%&*)$%&'!&C!3#=$%&'!<@!&C!$0#!2&'1$%$,$%&'N!3,9#*E!$0#!#G#'$1!)$!%11,#!
0#9#!)9#!)$!*#)1$!)1!#Z$9#-#N!!

!
7N6<! V#! 1,4-%$! $0)$! $0#! 5#-&*%$%&'! #Z#9=%1#! &C! $0#! 4,1%'#11! 89#-%1#1! )'5! =&--,'%$E!
C)=%*%$%#1!%'!$0#!H$,-)9)!2&--,'%$E!0)1!5#1$9&E#5!$0#!*%G#*%0&&51!&C!$0&,1)'51!)'5!
$0#9#4E! $09#)$#'1! $0#%9! '&'a5#9&/)4*#! 9%/0$! $&! *%C#! )1! /,)9)'$##5! 4E! 3#=$%&'! <M! &C!
$0#! 2&'1$%$,$%&'! &C! $0#! T#5#9)*! .#8,4*%=! &C! (%/#9%)! ;PPPB! ?9$%=*#! ;7! &C! $0#! ?C9%=)'!
20)9$#9B! )'5! ?9$%=*#! O! &C! $0#! I'$#9')$%&')*! 2&'G#'$%&'! &'! >=&'&-%=B! 3&=%)*! )'5!
2,*$,9)*!9%/0$1!UI2>32.WN!D0#!)*+,-%-.%3*9$3*,..0!%1!)!G%$)*!=&-8&'#'$!&C!$0#!9%/0$!$&!
*%C#! 4#=),1#B! Y%$0&,$! )! *%G#*%0&&5B! *%G%'/! %$1#*C! 4#=&-#1! %-8&11%4*#N! D0#! I'5%)'!
3,89#-#!2&,9$!%'!?3+/%T$33*"%9:%U.FK/C%D#2*=*B/3%8.)B.)/-*.2!_;<<T`'2K?';874'
,*' a,.%' ;;4! )! =)1#! 5#)*%'/! Y%$0! $0#! 5#-&*%$%&'! &C! 1*,-! 1$9,=$,9#1! '#)9! $0#! =%$E! &C!
X&-4)EB!I'5%)B!0#*5!)1!C&**&Y1K!
!
S1'#="'+$)=#'#%'C$0"C$=%%,'$D'&%#'#+"*#",'*D'*'E*+#'%1'#="_'+$)=#'#%'C$1"7'#="'
"*D$"D#'F*6'%1',"E+$0$&)'*'E"+D%&'%1'=$D'+$)=#'#%'C$1"'F%3C,'A"'#%',"E+$0"'
=$4' %1' =$D' 4"*&D' %1' C$0"C$=%%,' #%' #="' E%$&#' %1' *A+%)*#$%&L' @3.='
,"E+$0*#$%&' F%3C,' &%#' %&C6' ,"&3,"' #="' C$1"' %1' $#D' "11".#$0"' .%&#"&#' *&,'
4"*&$&)13C&"DD' A3#' $#' F%3C,' 4*O"' C$1"' $4E%DD$AC"' #%' C$0"_L' N"E+$0"' *'
E"+D%&'%1'=$D'+$)=#'#%'C$0"C$=%%,'*&,'6%3'D=*CC'=*0"',"E+$0",'=$4'%1'=$D'
C$1"L'
!
7N6M! ?1!%'!$0#!?3+/%T$33*"!=)1#B!$0#!R)9=0!;M![!;OB!6:;6!5#-&*%$%&'!#Z#9=%1#!=)99%#5!&,$!
%'! $0#! H$,-)9)! 2&--,'%$E! 5#1$9&E#5! $0#! 4,1%'#11! 89#-%1#1! )'5! =&--,'%$E!
C)=%*%$%#1! &C! -)'E! 9#1%5#'$1! )'5! )*1&! 5%18*)=#5! $0&,1)'51N! D0#1#! 89&8#9$%#1!
5#-&*%10#5! )1! Y#**! )1! /&&51! )'5! 1#9G%=#1! 5#1$9&E#5! =&'1$%$,$#5! $0#! 89%'=%8*#!
1&,9=#1! &C! *%G#*%0&&5! &C! $0#! 8#$%$%&'#91! %'! $0#! %'1$)'$! =)1#N! 3%-%*)9*EB! %'! V/WC$% 7X/%
!20*+$2.#"% =.FF#2*-C% 9:% A/)/+#/C4' D+*%#9>1%#)$,+' 2"0#*' "-' K01,+' ?).6*N4'
b0&.%1%+*' "-' 7T' b0+%4' ;<<S' ,*' a,#,' 7:;4! $0#! I'$#9a?-#9%=)'! 2&,9$! &C! +,-)'!
.%/0$1! C&,'5! $0)$! $0#! C)%*,9#! &C! $0#! ")9)/,)E)'! ]&G#9'-#'$! $&! #'1,9#! )!
=&--,'%$E_1!9%/0$!$&!$9)5%$%&')*!*)'51!Y)1!)!5#89%G)$%&'!&C!$0#%9!*%G#*%0&&5N!!?1!1,=0B!
$0#! 5#-&*%$%&'! &C! H$,-)9)! -)9^#$! Y%$0! $0#! )5\&%'%'/! 0&,1#1! 4E! $0#! J)/&1! 3$)$#!
]&G#9'-#'$! =&'1$%$,$#5! )'! )CC%9-)$%G#! )=$! 4E! /&G#9'-#'$! $0)$! 5%19,8$#5! $0#!
*%G#*%0&&51! &C! $0&,1)'51B! $0#9#4E! =&'1$%$,$%'/! )! G%&*)$%&'! &C! $0#%9! 9%/0$1! $&!
*%G#*%0&&5h*%C#N!V#!,9/#!()$%&')*!+,-)'!.%/0$1!2&--%11%&'!$&!1&!0&*5N!!
!
!
7N67!! T%')**EB!Y#!1,4-%$!$0)$!$0#!5#-&*%$%&'1!=)99%#5!&,$!%'!$0#!H$,-)9)!2&--,'%$E!0)G#!
)*1&! %'C9%'/#5! &'! $0#! 9%/0$1! &C! $0#! =0%*5B! %'=*,5%'/! $0#! C,'5)-#'$)*! )*+,-% -.%
$0#=/-*.2N!D0#!9%/0$1!&C!$0#!=0%*5!#'\&E!)!8&1%$%&'!&C!,$-&1$!%-8&9$)'=#!%'!(%/#9%)'!
*)YN!?9$%=*#!;@U;W!&C!$0#!?C9%=)'!20)9$#9B!Y0%=0!0)1!4##'!5&-#1$%=)$#5!%'$&!(%/#9%)'!
*)YB!89&G%5#1!$0)$!ep#qG#9E!%'5%G%5,)*!0)1!)!9%/0$!$&!#5,=)$%&'Nf!R&9#&G#9B!$0#!20%*5!
.%/0$1!?=$!(&N!6O!&C!6::<B!Y0%=0!/%G#1!5&-#1$%=!)CC#=$!$&!(%/#9%)_1!9)$%C%=)$%&'!&C!$0#!
2&'G#'$%&'!&'!$0#!.%/0$1!&C!$0#!20%*5B!%'=*,5#1!',-#9&,1!89&G%1%&'1!&'!$0#!9%/0$1!&C!
$0#!=0%*5B!%'=*,5%'/!$0#!=0%*5_1!9%/0$!$&!89&$#=$%&'!)'5!=)9#!)1!'#=#11)9E!C&9!$0#!Y#**a
4#%'/!&C!$0#!=0%*5!,'5#9!3#=$%&'!6B!9%/0$!$&!1,9G%G)*!)'5!5#G#*&8-#'$!,'5#9!3#=$%&'!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;M!&C!6@!''''''''''''''''''''''''''''''
'

MB!)'5!$0#!9%/0$!$&!$0#!e4#1$!)$$)%')4*#!1$)$#!&C!80E1%=)*B!-#'$)*!)'5!18%9%$,)*!0#)*$0f!
,'5#9! 3#=$%&'! ;<B! )'5! $0#! 9%/0$! $&! #5,=)$%&'! ,'5#9! 3#=$%&'! ;7N! D0#1#! 9%/0$1! )9#!
,'5#9/%95#5! 4E! $0#! 5%9#=$%G#! 89%'=%8*#! =&'$)%'#5! %'! ?9$%=*#! ;A! &C! $0#! 2&'1$%$,$%&'N!
J)1$*EB!?9$%=*#!;<!&C!$0#!I2>32.!89&$#=$1!e$0#!9%/0$!&C!#G#9E&'#!$&!#5,=)$%&'Nf!!

!
7N6O! .#*E%'/! &'! 1,=0! ),$0&9%$%#1B! $0#! 2&--,'%$E! 2&,9$! &C! c,1$%=#! &C! $0#! >=&'&-%=!
2&--,'%$E! &C! V#1$! ?C9%=)'! 3$)$#1! %'! $0#! =)1#! &C! 4567A% 9":% R$0$)/3% 6$B#K3*=% .<%
;*+$)*/% /20% Y2*9$)"/3% U/"*=% 50#=/-*.2% 8.FF*""*.2' _B2cW22bW>AAW<UW<U`B!
9#=&/'%S#5! $0%1! 9%/0$! $&! #5,=)$%&'! )1! #'C&9=#)4*#! %'! (%/#9%)N! XE! G%9$,#! &C! $0#!
>2HV?3!D9#)$EB!$0%1!5#=%1%&'!%1!4%'5%'/!*)Y!%'!(%/#9%)N!!
!
7N6@! XE! 5%19,8$%'/! *%G#*%0&&51! )'5! 5%18*)=%'/! $0#! 8#$%$%&'#91! C9&-! $0#%9! 0&-#1! =9#)$#5!
C%')'=%)*!)'5!#=&'&-%=!0)9510%8!C&9!$0#!)CC#=$#5!-#-4#91!&C!H$,-)9)!=&--,'%$EN!!
V#!1,4-%$!$0)$!$0#!R)9=0!;MB!6:;6!5#-&*%$%&'1!0)G#!)*1&!\#&8)95%S#5!$0#!)4%*%$E!&C!
-)'E!=0%*59#'!$&!)$$#'5!1=0&&*N!I'5##5B!1#G#9)*!=0%*59#'!0)G#!4##'!Y%$059)Y'!C9&-!
$0#! 1=0&&*! )1! )! 9#1,*$! &C! $0#! 5#-&*%$%&'N! V#! 1,4-%$B! $0#9#C&9#B! $0)$! $0#! R)9=0! ;MB!
6:;6! 5#-&*%$%&'1! 0)G#! G%&*)$#5! $0#! 9%/0$! $&! #5,=)$%&'! &C! =0%*59#'! %'! $0#! H$,-)9)!
2&--,'%$E! )'5! 9#18#=$C,**E! ,9/#! $0#! ()$%&')*! +,-)'! .%/0$1! 2&--%11%&'! $&! 1&!
0&*5N!!
!
!
:L<' A?>JB?M'!/?'?B=DB!'
!!
ON;! ?! F>2J?.?DIH(! $0)$! $0#! #G%=$%&'! &C! $0#! H$,-)9)! 2&--,'%$E! )'5! 5#-&*%$%&'! &C!
$0#%9! 0&-#1B! 4,1%'#11! 8*)=#1! )'5! =&--,'%$E! C)=%*%$%#1! &'! R)9=0! ;Ma;OB! 6:;6!
=&'1$%$,$#1! )! -"#$%&' %()$*)"+' )'5B! $0#9#4EB! G%&*)$#1! $0#! 9%/0$! $&! )5#`,)$#! 0&,1%'/!
/,)9)'$##5! ,'5#9! $0#! I'$#9')$%&')*! 2&G#')'$! &'! >=&'&-%=B! 3&=%)*! )'5! 2,*$,9)*!
.%/0$1!)'5!$0#!9%/0$!$&!0&,1%'/h10#*$#9!%-8*%=%$!%'!$0#!?C9%=)'!20)9$#9!&C!+,-)'!)'5!
"#&8*#1_!.%/0$1!)'5!$0#!;PPP!2&'1$%$,$%&'!&C!$0#!T#5#9)*!.#8,4*%=!&C!(%/#9%)N!
!
ON6! ?! F>2J?.?DIH(! $0)$! $0#! R)9=0! ;Ma;OB! 6:;6! 5#-&*%$%&'! &C! H$,-)9)! 2&--,'%$E!
9#1,*$#5!%'!G%&*)$%&'1!&C!$0#!9%/0$!89&8#9$EB!9%/0$!$&!5,#!89&=#11B!9%/0$!$&!C)-%*E!)'5!
89%G)$#! *%C#B! $0#! 9%/0$! $&! *%G#*%0&&5! %-8*%=%$! %'! $0#! 9%/0$! $&! *%C#B! )'5! $0#! 9%/0$! $&!
#5,=)$%&'! /,)9)'$##5! ,'5#9! $0#! ;PPP! 2&'1$%$,$%&'! &C! $0#! T#5#9)*! .#8,4*%=! &C!
(%/#9%)B! $0#! I'$#9')$%&')*! 2&G#')'$! &'! >=&'&-%=B! 3&=%)*! )'5! 2,*$,9)*! .%/0$1B! $0#!
I'$#9')$%&')*! 2&G#')'$! &'! 2%G%*! )'5! "&*%$%=)*! .%/0$1B! )'5! $0#! ?C9%=)'! 20)9$#9! &'!
+,-)'!)'5!"#&8*#1!.%/0$1B!)-&'/!&$0#9!%'1$9,-#'$1!$&!Y0%=0!(%/#9%)!%1!8)9$EN!
!
ON<! ?'! H.F>.! &C! R?(F?DH.i! I(cd(2DIH(! &95#9%'/! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! $&!
9#$,9'! $0#! *)'5! $)^#'! $&! $0#! H$,-)9)! =&--,'%$E! )'5! 9#4,%*5! $0#! Y9&'/C,**E!
5#-&*%10#5! 0&-#1B! 4,1%'#11! 8*)=#1! )'5! =&--,'%$E! C)=%*%$%#1! &C! C&9=%4*E! #G%=$#5!
9#1%5#'$1g! &9!%'! $0#! )*$#9')$%G#B! $&! %--#5%)$#*E! 8)E! )5#`,)$#! =&-8#'1)$%&'! C&9! )**!
$0#!9%/0$1!G%&*)$%&'1!1,CC#9#5!4E!)**!)CC#=$#5!8#91&'1B!%'=*,5%'/!$#')'$1!)'5!1$9,=$,9#!
&Y'#91! )*%^#B! )'5! 9#1#$$*#! )'E! )CC#=$#5! 8#91&'1! Y0&! )9#! ,')4*#! $&! 9#1#$$*#!
$0#-1#*G#1N!
!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;7!&C!6@!''''''''''''''''''''''''''''''
'

ONM!

!
ON7!

?'! H.F>.! &C! R?(F?DH.i! I(cd(2DIH(! &95#9%'/! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! $&!
9#C9)%'! C9&-! =)99E%'/! &,$! )'5! $)^#! %--#5%)$#! 1$#81! $&! 89#G#'$! C&9=#5! #G%=$%&'1! %'!
$0#! 1$)$#B! %'=*,5%'/! 5&-#1$%=)$%'/! $0#! 89&0%4%$%&'! &'! C&9=#5! #G%=$%&'1! %'$&! J)/&1!
3$)$#!*)YN!!!
?'! H.F>.! C&9! $0#! 8)E-#'$! ;B:::B:::B:::N::! U&'#! 4%**%&'W! ()%9)! &'*E! )1! 5)-)/#1!
C&9!81E=0&*&/%=)*!)'5!80E1%=)*!$9),-)!1,CC#9#5!4E!$0#!8#$%$%&'#91B!)**!$0#!4,1%'#11#1!
)'5!=&--,'%$E!C)=%*%$%#1!$0)$!Y#9#!5#-&*%10#5B!$)^%'/!%'$&!)==&,'$!$0#!$&$)*!G)*,#!&C!
$0#%9! 89&8#9$E! )'5! $0#! *&1$! %'=&-#! C9&-! 4#%'/! ,')4*#! $&! Y&9^! Y%$0&,$! )! 8*)=#! &C!
4,1%'#11B! )'5! $&! 89&G%5#! )'! )5#`,)$#! )*$#9')$%G#! *&=)$%&'! C&9! $0#! H$,-)9)!
2&--,'%$E!$&!9#4,%*5!$0#!5#-&*%10#5!8*)=#1!&C!4,1%'#11!)'5!=&--,'%$E!C)=%*%$%#1N!

!
!
3,4-%$$#5!&'!67!3#8$#-4#9!6:;<N!

!
!

!
rrrrrrrrrrrrrrrrrrrrrr!
?'59#Y!R)^%!
3$)CC!?$$&9'#EB!3>.?2!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;O!&C!6@!''''''''''''''''''''''''''''''
'

'

!
!
!
'

ABCDCD/E'?BF>?GDEF'!/?2BG'BHD2CD/E'/!'/CI5>?>'
2/55IEDCJ4'7897:'5>?2K';<7;'
@3A4$##",'A6B'
3&=%)*!)'5!>=&'&-%=!.%/0$1!?=$%&'!2#'$#9!U3>.?2W!
J)/&1!R)9/%')*%S#5!2&--,'%$%#1!T&9,-!UJ?R2HTH.W!
67!3#8$#-4#9!6:;<!

'
MIAA/?CDEF'MC>CB5BEC'
!
!
IB!?*0)\%!H/,'5#*#!X,9)%-&0!?/4#5#B!R)*#B!(%/#9%)'B!R&1*#-B!)!4,1%'#11-)'B!&C!(&N!O!IE)!
?4%E#!3$9##$B!H$,-)9)B!R)%'*)'5!J&=)*!]&G#9'-#'$!?9#)!&C!J)/&1!3$)$#!5&!0#9#4E!-)^#!
$0%1!1,88&9$%'/!1$)$#-#'$!)'5!1$)$#!)1!C&**&Y1K!
!
;N D0)$! I! )-! $0#! )88*%=)'$! 0#9#%'! )'5! 0)G#! $0#! ),$0&9%$E! &C! $0#! &$0#9! )88*%=)'$1! $&!
1Y#)9!$&!$0%1!)CC%5)G%$N!
!
6N D0)$! &'! ;Ma;O! &C! R)9=0B! Y%$0&,$! '&$%=#! &9! Y)9'%'/B! $0#! J)/&1! 3$)$#! R%'%1$9E! &C!
>'G%9&'-#'$B! )*&'/! Y%$0! 1&-#! &$0#9! 8#91&'1! 4#*%#G#5! $&! 4#! C9&-! $0#! =&'$9)=$&9!
F9#5/%'/! )'5! 2&'1$9,=$%&'! ?*$#9')$%G#1B! J$5NB! 59&G#! 0#)GE! -)=0%'#9E! %'=*,5%'/! )'!
#Z=)G)$&9! )'5! )! 4,**5&S#9! %'$&! $0#! =&--,'%$E! )'5! 1$)9$#5! 5#-&*%10%'/! 10&81B!
R)9^#$! 1$&9#1! )'5! %'5%G%5,)*! 0&,1#1N! D0#! 8,4*%=! $&%*#$1! %'! $0#! R)9^#$! Y#9#! )*1&!
5#1$9&E#5N!M%%'BO6)P)*N'B79BSL!
!
<N D0)$! Y0%*#! $0#! 5#-&*%$%&'!Y)1! /&%'/! &'B! ,'^'&Y'! 8#91&'1! $0)$! )==&-8)'%#5! $0#!
&CC%=%)*1!*&&$#5!)'5!49&^#!%'$&!%'5%G%5,)*!10&81!)'5!=)9$#5!)Y)E!Y)9#1B!/&&51!)'5!
&$0#9!G)*,)4*#1!Y&9$0!-%**%&'1!&C!()%9)N!
!
MN D0)$!)**!)$$#-8$1!-)5#!4E!$0#!-#-4#91!&C!$0#!=&--,'%$EB!89&8#9$E!&Y'#91B!R)9^#$!
-#'! )'5! Y&-#'! )'5! 10&8! &Y'#91! $&! 9#$9%#G#! $0#%9! /&&51B! 89&8#9$%#1! )'5! #G#'!
-&'#E! Y#9#! 9#1%1$#5! 4E! $0#! *&&$#91! $0)$! )==&-8)'%#5! $0#! &CC%=%)*1! C9&-! $0#! J)/&1!
3$)$#! R%'%1$9E! &C! $0#! >'G%9&'-#'$! )'5! $0#! =&'$9)=$&9! #-8*&E#5! 4E! $0#! R%'%1$9EN!
V0)$!Y#!Y#9#!,')4*#!$&!1)*G)/#!)'5!$0#!*&&$#91!Y#9#!,')4*#!$&!$)^#!Y)1!5#1$9&E#5!
Y0#'!$0#!4,%*5%'/1!Y#9#!5#-&*%10#5N!
!
7N D0)$!$0#!$09##a5)E!5#-&*%$%&'!9#1,*$#5!%'!$0#!5#1$9,=$%&'!&C!0,'59#51!&C!1$)**1!)'5!
10&81!%'!$0#!R)9^#$N!
!
ON D0)$! I! )-! )Y)9#! $0)$! H$,-)9)! R)9^#$! Y)1! 89&8&1#5! $&! $0#! J)/&1! ]&G#9'-#'$!
?,$0&9%$E!%'!;PAAB!)'5!Y)1!)889&G#5!UN%%'BO6)P)*'G8WN!
!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;@!&C!6@!''''''''''''''''''''''''''''''
'

@N D0)$! 9%/0$! C9&-! $0#! $%-#! &C! $0#! 9#=&/'%$%&'! )'5! $0#! 9#/%1$9)$%&'! &C! $0#! H$,-%*)9)!
R)9^#$!?11&=%)$%&'B!$0#!H$,-)9)!R)9^#$!0)1!4##'!$0#!89%'=%8*#!1&,9=#!&C!*%G#*%0&&5!
C&9!$9)5#91B!)'5!)!^#E!1&,9=#!&C!C&&51$,CC1!C&9!$0#!1,99&,'5%'/!=&--,'%$%#1N!
!

AN D0)$!$0#!H$,-)9)!R)9^#$!%1!$0#!&'*E!-)9^#$!%'!$0#!I*)\#!H$,-)9)!2&--,'%$EN!

!
PN D0)$! H$,-)9)! R)9^#$! %1! 9#=&/'%1#5! )'5! 9#/%1$#9#5! )1! &C! 3#8$#-4#9! ;OB! ;PP6! )1! )!
-)9^#$!%'!J)/&1!3$)$#!4E!$0#!J)/&1!R)%'*)'5!J&=)*!]&G#9'-#'$!?9#)!)'5!$0#!J)/&1!
3$)$#!]&G#9'-#'$!UN%%'BO6)P)*'GQWN!
!

;:N D0)$! $0#! ",4*%=! (&$%=#! &C! $0#! 9#/%1$9)$%&'! &C! $0#! H$,-%*)9)! R)9^#$! ?11&=%)$%&'! &C!
H$,-)9)!R)9^#$!Y)1!5,*E!-)5#!4E!$0#!e",4*%=!(&$%=#!(&N!<h;PPAf!8,4*%10#5!%'!$0#!
J)/&1!3$)$#!HCC%=%)*!])S#$$#!(&N!<<!%'!b&*N!<;!&C!;PPA!UN%%'BO6)P)*'G7WN!

!
;;N D0)$!H$,-%*)9)!R)9^#$!?11&=%)$%&'!)88*%#5!C&9!9#/%1$9)$%&'!)1!)!-)9^#$!)11&=%)$%&'B!
)'5! Y)1! 5,*E! 9#/%1$#9#5! Y%$0! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! )1! )! -)9^#$! )11&=%)$%&'!
&'!T#49,)9E!6OB!;PPP!UN%%'BO6)P)*'G;WN!
!

;6N D0)$!4)1#5!&'!$0%1!,'5#91$)'5%'/B!Y#!18#'$!&,9!&Y'!-&'#E!$&!4,%*5!$0#!1$9,=$,9#1!
C&9!&,9!10&81!)'5!-)5#!%-89&G#-#'$!$&!&,9!10&81!Y0%=0!0&,1#5!&,9!89&8#9$E!)'5!
$0#!Y)9#1!&C!&,9!$9)5#N!

;<N D0)$!$0#!-#-4#91!&C!$0#!H$,-%*)9)!R)9^#$!?11&=%)$%&'B!%'=*,5%'/!-E1#*CB!^'&Y!$0)$!
$0#! J)/&1! 3$)$#! ]&G#9'-#'$! -)E! '##5! $0#! *)'5! C&9! 8,4*%=! 8,98&1#1B! %'=*,5%'/! $0#!
4,%*5%'/! &C! )! =)')*B! )'5! $0)$! $0#E! -)E! '##5! $&! 9#=*)%-! 1&-#! &9! )**! &C! $0#! *)'5! &'!
Y0%=0!H$,-)9)!R)9^#$!0)1!4##'!4,%*$!&'=#!)5#`,)$#!'&$%=#!0)1!4##'!/%G#'!)'5!$%-#!
)**&=)$#5!C&9!,1!$&!9#-&G#!&,9!1$)**1!)'5!Y)9#1!C9&-!$0#!)9#)!'##5#5N!+&Y#G#9B!Y#!
0)G#! 4##'! /9)'$#5! *)YC,*! 8#9-%11%&'! $&! 4,%*5! &,9! -)9^#$! %'! $0%1! )9#)B! )'5! 0)G#!
E#)9*E! 8)%5! &,9! 9#/%1$9)$%&'! C##1! $0#9#4E! 10&Y%'/! $0)$! $0#! /&G#9'-#'$! 0)1!
=&'5&'#5! )'5! /9)'$#5! ,1! 8#9-%11%&'! $&! ,1#! $0#! *)'5! %'! $0%1! -)$$#9! UN%%' BO6)P)*N'
G79G8WN!
;MN R&9#&G#9B! $0#! -#-4#91! &C! H$,-%*)9)! R)9^#$! ?11&=%)$%&'B! %'=*,5%'/! -E1#*CB! Y#9#!
)'5! 9#-)%'! 9#)5E! $&! Y&9^! Y%$0! $0#! /&G#9'-#'$! )/#'=%#1! $&! %-89&G#! 59)%')/#B!
1)'%$)$%&'B!)'5!$&!&$0#9Y%1#!,8/9)5#!$0#!H$,-)9)!R)9^#$!$&'D$#3B!)1!Y#**!)1!$&!-&G#!
&9! -&5%CE! 1$9,=$,9#1! $0)$! -)E! 4#! 5##-#5! '#=#11)9E! $&! -##$! $0#! 8,4*%=! '##51!
89&G%5#5!$0)$!)5#`,)$#!'&$%=#!)'5!)*$#9')$%G#!)99)'/#-#'$1!)9#!-)5#!C&9!#CC#=$#5!
-#-4#91!&C!H$,-%*)9)!R)9^#$!?11&=%)$%&'N!+&Y#G#9B!4E!C)%*%'/!$&!/%G#!,1!'&$%=#!)'5!
Y&9^! Y%$0! ,1! $&! #'1,9#! $0)$! %-89&G#-#'$1! Y#9#! =&'5,=$#5! %'! )! C)%9! )'5! *)YC,*!
-)''#9B! $0#! /&G#9'-#'$! =),1#5! ,1! /9#)$! 0)9510%8B! *&11! )'5! $9)/#5EB! )'5! 0)G#!
C&9=#5! ,1! $&! *%G#! Y%$0&,$! *%G#*%0&&5! &9! )! -#)'1! &C! 89&G%5%'/! C&9! &,91#*G#1!)'5! &,9!
C)-%*E!-#-4#91N!

'
!"+D%&*C'5$+.34D#*&."D'
'
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;A!&C!6@!''''''''''''''''''''''''''''''
'

;7N D0)$! I! )-! )! 9#1%5#'$! &C! H$,-)9)B! )! 4,1%'#11-)'! )'5! $0#! X)4)! H\)! &C! H$,-%*)9)!
R)9^#$!?11&=%)$%&'N!
!
;ON D0)$B!4E!G%9$,#!&C!$0#!)4&G#B!I!)-!=&'G#91)'$!Y%$0!$0#!C)=$1!$0)$!*#5!$&!$0%1!=)1#N!
!
!

;@N D0)$! I! Y)1! 4&9'! @A! E#)91! )/&! )'5! 0)G#! *%G#5! -&1$! &C! -E! ,1#C,*! *%C#! &'! H$,-)9)!
=&--,'%$EN!!
;AN D0)$! I! Y)1! %'G%$#5! $&! \&%'! H$,-)9)! R)9^#$! %'! ;PAA! )'5! I! Y&9^#5! =*&1#*E! Y%$0! $0#!
C&9-#9!X)4)!H\)B!$0#!*)$#!F)5)!T)/4)-%*)B!Y0&!5%#5!4#C&9#!I!Y)1!)88&%'$#5!$0#!X)4)!
H\)!&C!$0#!H$,-)9)!R)9^#$N!!

!
5%443&$#6'5$+.34D#*&."D'
!
;PN D0)$!&'!c)',)9E!66B!6:;<B!>--)',#*!(Y)/0&5&0B!R)*#B!3$)CC!?$$&9'#E!)$!$0#!3&=%)*!
)'5! >=&'&-%=! .%/0$1! ?=$%&'! 2#'$#9! U3>.?2WB! 3&*%=%$&9! $&! $0#! H$,-)9)! 2&--,'%$EB!
%'C&9-#5!-#!$0)$K!
!
)N D0)$! &'! T#49,)9E! 6PB! 6:;6B! )! 3>.?2! $#)-! =&-89%1#5! &C! >--)',#*!
(Y)/0&5&0B! ?5#4)E&! H^#&Y&B! )'5! F%'-)! (Y)'E#! -#$! Y%$0! R9N! R,14),!
?/4&5#-,B! )! =&--,'%$E! *#)5#9! Y%$0%'! $0#! H$$&! )'5! H$,-)9)! =&--,'%$%#1B!
)'5!Y#9#!%'C&9-#5!$0)$!$0#!X))*#!&C!H$,-)9)!=&--,'%$E!0)5!9#=#%G#5!)!=)**!
C9&-! $0#! R%'%1$9E! &C! >'G%9&'-#'$! 9#/)95%'/! $0#%9! %'$#'$%&'! $&! 49%'/!
4,**5&S#91! $&! $0#! =&--,'%$E! )'5! 1$)9$! Y&9^N! D0#! 3>.?2! D#)-! -#$!
/&G#9'-#'$! -#-4#91! Y0#'! *#)G%'/! H$,-)9)! R)9^#$B! )'5! %'C&9-#5! $0#-!
$0)$!$0#9#!Y)1!)!8#'5%'/!=)1#!$0)$!=&'=#9'#5!$0%1!=&--,'%$E![!7+K.0$F#%M%
?)":% 9:% N/+."% 4-/-$% 529*).2F$2-/3% /20% 4/2*-/-*.2% 52<.)=$F$2-% 7+$2=C%
G4#*-% ;.:% DOP&QO&QO(Q&&I' [! )'5! $0)$! )'! %'\,'=$%&'! 0)5! 4##'! %11,#5! %'!
9#*)$%&'! $&! $0#! =)1#! UN%%' BO6)P)*N' BQ9BSB! 80&$&1! &C! $0#! '&$%=#! &C! 8#'5%'/!
*%$%/)$%&'! 8&1$#5! )9&,'5! $0#! )CC#=$#5! )9#)! 4#C&9#! 5#-&*%$%&'! =&--#'=#5WN!
D0#!]&G#9'-#'$!Y&9^#91!1$)$#5!$0)$!$0#E!Y#9#!\,1$!=)99E%'/!&,$!$0#%9!5,$%#1N!
?1!C)9!)1!$0#!3>.?2!D#)-!Y)1!)Y)9#B!'&!&'!#*1#!%'!$0#!=&--,'%$E!0)5!4##'!
=&'$)=$#5!&9!'&$%C%#5B!)'5!$0#!X))*#!5%5!'&$!%'C&9-!=&--,'%$E!&C!$0#!8&11%4*#!
5#-&*%$%&'N!
!
!
6:N D0)$! &'! c)',)9E! 66B! 6:;<B! R91N! ?*0)\)! (%-&$)! c)$&B! T#-)*#B! (%/#9%)'B! R&1*#-B! )!
D9)5#9B!&C!(&N!6!s%&'!3$9##$B!I*)\#!H$,-)9)B!J)/&1!R)%'*)'5!J&=)*!]&G#9'-#'$!?9#)!
&C!J)/&1!3$)$#!$&*5!-#!$0)$K!
!
)N D0)$! 10#! Y)1! 4&9'! @M! E#)91! )/&! )'5! 0)1! *%G#5! -&1$! &C! 0#9! ,1#C,*! *%C#! %'! $0#!
H$,-)9)!=&--,'%$EN!!
!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

;P!&C!6@!''''''''''''''''''''''''''''''
'

4N D0)$! )1! )! C&,'5%'/! -#-4#9! &C! H$,-%*)9)! R)9^#$! ?11&=%)$%&'B! 10#! Y&9^#5!
=*&1#*E! Y%$0! $0#! C&9-#9! I\)! H\)B! $0#! *)$#! R91N! c,-4&B! Y0&! 5%#5! 1&-#$%-#! %'!
F#=#-4#9!6::<N!
!
=N D0)$! 10#! Y)1! $0#! G%=#! IE)! H\)! ,'5#9! $0#! *#)5#910%8! &C! *)$#! R91N! c,-4&! )'5!
1,==##5#5!0#9!)1!$0#!IE)!H\)!,8&'!0#9!5#-%1#N!!!!!
!
5N D0)$!$0#!%5#)!&C!C&9-%'/!)!-)9^#$!)11&=%)$%&'!1$)9$#5!)1!C)9!4)=^!;PA@!Y0#'!
&CC%=%)*1! &C! J)/&1! R)%'*)'5! J&=)*! ]&G#9'-#'$! )'5! $0&1#! &C! $0#! J)/&1! 3$)$#!
]&G#9'-#'$! =)-#! $&! H$,-)9)! 2&--,'%$EN! I'! $0#%9! G%1%$B! $0#E! 89&-%1#5! $&!
=%$#!)!89&\#=$!%'!&,9!=&--,'%$E!)'5!9#`,#1$#5!C9&-!,1!Y0)$!$0#!=&--,'%$E!
'##5#5N!!
!

#N D0)$! Y#! Y#9#! )1^#5! $&! -)^#! )! =0&%=#! C9&-! $09##! &8$%&'1! Y0%=0! %'=*,5#5! )!
8&*%=#!1$)$%&'B!)!0&18%$)*!)'5!)!-)9^#$B!&,$!&C!Y0%=0!Y#!&8$#5!C&9!)!-)9^#$N!
!
CN D0)$! Y0#'! $0#! H$,-)9)! R)9^#$! Y)1! #G#'$,)**E! )889&G#5! 4E! $0#! J)/&1!
R)%'*)'5! )'5! $0#! J)/&1! 3$)$#! ]&G#9'-#'$1B! Y#! 1$)9$#5! -)^%'/! #CC&9$1! $&!
#'1,9#!$0)$!$0#!H$,-%*)9)!R)9^#$!?11&=%)$%&'!Y)1!9#/%1$#9#5N!!
!
/N D0)$! 9%/0$! C9&-! $0#! $%-#! &C! $0#! 9#=&/'%$%&'! )'5! $0#! 9#/%1$9)$%&'! &C! $0#!
H$,-%*)9)! R)9^#$! ?11&=%)$%&'B! $0#! H$,-)9)! R)9^#$! 0)1! 4##'! $0#! 89%'=%8*#!
1&,9=#! &C! *%G#*%0&&5! C&9! $9)5#91B! )'5! )! ^#E! 1&,9=#! &C! C&&51$,CC1! C&9! $0#!
1,99&,'5%'/!=&--,'%$%#1N!
!
0N D0)$!1&-#$%-#!5,9%'/!$0#!C%91$!$Y&!Y##^1!&C!R)9=0!6:;6B!1&-#!8#91&'1!C9&-!
$0#!R%'%1$9E!&C!$0#!>'G%9&'-#'$!&C!$0#!J)/&1!3$)$#!]&G#9'-#'$!=)-#!%'$&!$0#!
H$,-)9)! =&--,'%$E! )'5! 8)%'$#5! elf! -)9^%'/1! %'! 9#5! 8)%'$! &'! ',-#9&,1!
1$9,=$,9#1B!%'=*,5%'/!R)9^#$!1$)**1N!
6;N D0)$!&'!c)',)9E!66B!6:;<B!R9N!30%$$,!?5#/4#'9&B!R)*#B!(%/#9%)'B!R&1*#-B!)!D9)5#9B!
&C!(&N!;?!?5#Y&*#!3$9##$B!I*)\#!H$,-)9)B!J)/&1!R)%'*)'5!J&=)*!]&G#9'-#'$!?9#)!&C!
J)/&1!3$)$#!$&*5!-#!$0)$K!
!
)N +#!\&%'#5!H$,-)9)!R)9^#$!%'!;PP:B!)'5!#G#9!1%'=#!0)1!4##'!)'!)=$%G#!
-#-4#9!&C!$0#!R)9^#$!?11&=%)$%&'N!
!
4N D0)$!$Y&!5)E1!4#C&9#!$0#!5#-&*%$%&'!&'#!Y&-)'!Y0&!1%-8*E!%5#'$%C%#5!
0#91#*C!)1!R91N!30&*)!C9&-!$0#!J)/&1!3$)$#!R%'%1$9E!&C!$0#!>'G%9&'-#'$!=)-#!
Y%$0!1&-#!8#&8*#!$&!$0#!R)9^#$!)'5!8)%'$#5!elf!-)9^%'/1!%'!9#5!8)%'$!&'!
',-#9&,1!1$9,=$,9#1B!%'=*,5%'/!R)9^#$!1$)**1N!
!
=N D0)$!Y0#'!$0#!=&--,'%$E!)'5!R)9^#$!?11&=%)$%&'!#'`,%9#5!C9&-!0#9!$0#%9!
-%11%&'!10#!1$)$#5!$0)$!$0#!J)/&1!3$)$#!]&G#9'-#'$!Y)'$#5!$&!=&'1$9,=$!)!
=)')*!C9&-!2&1$)%'!$&!\&%'!$0#!#Z%1$%'/!=)')*!)5\)=#'$!$&!$0#!H$,-)9)!R)9^#$B!
Y0%=0!1#8)9)$#1!$0#!H$,-)9)!=&--,'%$%#1!C9&-!$0#!H$$&!=&--,'%$%#1N!!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

6:!&C!6@!''''''''''''''''''''''''''''''
'

!
5N D0)$!4)1#5!&'!$0#!%'C&9-)$%&'!)4&G#B!1&-#!9#89#1#'$)$%G#1!&C!$0#!R)9^#$!
?11&=%)$%&'!)'5!$0#!H$,-)9)!=&--,'%$E!0#)5#5!C&9!$0#!1$)$#!1#=9#$)9%)$!$0#!
'#Z$!5)E!$&!-##$!Y%$0!R91N!30&*)!)$!$0#!R%'%1$9E!&C!$0#!>'G%9&'-#'$N!!

#N D0)$!0#!Y)1!8)9$!&C!$0)$!G%1%$!)'5!Y0#'!$0#E!-#$!Y%$0!R91!30&*)!%'!0#9!&CC%=#!
$0#E!8*#)5#5!Y%$0!0#9!$&!/%G#!H$,-)9)!R)9^#$!?11&=%)$%&'!1&-#!$%-#!$&!
#')4*#!$0#-!9#-&G#!$0#%9!/&&51!C9&-!$0#!R)9^#$N!!!!
!
CN D0)$!%'!0#9!9#18&'1#B!10#!89&-%1#5!10#!Y)1!/&%'/!$&!=&'$)=$!Y%$0!$0#!
>'/%'##9!%'!=0)9/#!&C!89&\#=$!$&!1##!%C!$0#E!=)'!=&--#'=#!Y&9^!C9&-!$0#!
2&1$)%'!#'5!1&!$0)$!$0#E!-%/0$!0)G#!1&-#!8#9%&5!&C!/9)=#!$&!9#-&G#!$0#%9!
/&&51!)'5!89&8#9$%#1!C9&-!$0#!H$,-)9)!R)9^#$N!!
!
/N V0%*#!$0#!5#-&*%$%&'!Y)1!/&%'/!&'B!8#&8*#!$0)$!)==&-8)'%#5!$0#!&CC%=%)*1!
C9&-!$0#!J)/&1!3$)$#!R%'%1$9E!&C!$0#!>'G%9&'-#'$!)'5!$0#!=&'$9)=$&9!
#-8*&E#5!4E!$0#!R%'%1$9E!*&&$#5!)'5!49&^#!%'$&!10&81!)'5!$&&^!&,9!Y)9#1B!
/&&51!)'5!&$0#9!G)*,)4*#1N!!
!
4N D0)$!I!Y)1!'&$!89#1#'$!Y0#'!$0#!5#-&*%$%&'!$#)-!C9&-!$0#!R%'%1$9E!&C!$0#!
>'G%9&'-#'$!J)/&1!3$)$#!=)-#!$&!$0#!H$,-)9)!R)9^#$!)'5!1$)9$#5!
5#-&*%10%'/!1)-#B!4,$!I!Y)1!=&'$)=$#5!4E!-#-4#91!&C!$0#!=&--,'%$E!)'5!I!
9,10#5!5&Y'!$&!$0#!R)9^#$N!
!
=N D0)$!&'!)99%G%'/B!I!1)Y!$0)$!$0#!=)$#98%**)91!0)5!8,**#5!5&Y'!1#G#9)*!10&81!
)'5!#G#9E!)$$#-8$!$&!1$&8!$0#!5#-&*%$%&'!89&G#5!)4&9$%G#N!
!

5N D0)$! &'! $0#! 5)E! $0#! 5#-&*%$%&'! 1$)9$#5B! &'#! &CC%=%)*! Y0&! *)$#9! %5#'$%C%#5!
0#91#*C! )1! R91N! 30&*)! C9&-! $0#! J)/&1! 3$)$#! R%'%1$9E! &C! >'G%9&'-#'$B! %'!
=&-8)'E! Y%$0! 1&-#! &$0#9! 8#91&'1B! 59&G#! 0#)GE! -)=0%'#9E! %'=*,5%'/! )'!
#Z=)G)$&9! )'5! )! 4,**5&S#9! %'$&! $0#! =&--,'%$E! )'5! 1$)9$#5! 5#-&*%10%'/!
10&81B!R)9^#$!1$&9#1N!!
#N D0)$!Y0%*#!$0#!5#-&*%$%&'!Y)1!/&%'/!&'B!$0,/1!)'5!0&&5*,-1!0)5!)!4,1E!5)E!
*&&$%'/! )'5! 49#)^%'/! %'$&! %'5%G%5,)*! 10&81! )'5! =)9$%'/! )Y)E! Y)9#1B! /&&51!
)'5!&$0#9!G)*,)4*#1!Y&9$0!-%**%&'1!&C!()%9)N!!

CN D0)$! )$$#-8$1! -)5#! 4E! $0#! -#-4#91! &C! $0#! =&--,'%$EB! 89&8#9$E! &Y'#91B!
R)9^#$!-#'!)'5!Y&-#'!)'5!10&8!&Y'#91!$&!9#$9%#G#!$0#%9!/&&51B!89&8#9$%#1!
)'5!#G#'!-&'#E!Y#9#!9#1%1$#5!4E!$0#!$0,/1!)'5!0&&5*,-1!$0)$!)==&-8)'%#5!
$0#! &CC%=%)*1! C9&-! $0#! J)/&1! 3$)$#! R%'%1$9E! &C! $0#! >'G%9&'-#'$! )'5! $0#!
=&'$9)=$&9!#-8*&E#5!4E!$0#!R%'%1$9EN!!

!
/N D0)$! $0#! J)/&1! 3$)$#! R%'%1$9E! &C! $0#! >'G%9&'-#'$! )'5! $0#! =&'$9)=$&9!
#-8*&E#5!4E!$0#!R%'%1$9E!-)5#!'&!)$$#-8$!$&!1$&8!$0#!$0,/1!)'5!0&&5*,-1!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

6;!&C!6@!''''''''''''''''''''''''''''''
'

C9&-!1$#)*%'/!$0#!/&&51B!89&8#9$EB!)'5!-&'#E!&C!$0#!2&--,'%$E!)'5!-)5#!'&!
#CC&9$1! $&! )11%1$! &9! )**&Y! $0#! 2&--,'%$E! -#-4#91! $&! 9#-&G#! $0#%9! /&&51!
C9&-!$0#%9!1$)**1!4#C&9#!$0#E!Y#9#!5#-&*%10#5N!
!

0N D0)$!$0#!5#-&*%$%&'B!Y0%=0!*)1$#5!<!5)E1B!9#1,*$#5!%'!$0#!5#-&*%$%&'!&C!-&9#!
$0)'!;B7::!1$)**1!)'5!10&81!%'!$0#!R)9^#$N!

%N

D0)$! $0#! 5#-&*%$%&'! #Z#9=%1#! )'5! %$1! )C$#9-)$0! Y#9#! =*#)9*E! =)8$,9#5! %'!
1#G#9)*! '#Y18)8#91B! )-&'/1$! $0#-! %1! $0#! ()$%&'! '#Y18)8#9! &C! R)9=0! ;OB!
6:;6!UN%%'BO6)P)*'K;WN!

\N

D0)$! H$,-%*)9)! R)9^#$! ?11&=%)$%&'B! 10&8! &Y'#91! )'5! 89&8#9$E! &Y'#91!

1,CC#9#5! C%')'=%)*B! -)$#9%)*B! )'5! 81E=0&*&/%=)*! *&11#1! )1! )! 9#1,*$! &C! $0#!
5#-&*%$%&'! &C! $0#%9! R)9^#$! )'5! 1$)**1! 4E! $0#! J)/&1! 3$)$#! R%'%1$9E! &C! $0#!
>'G%9&'-#'$!)'5!$0#!=&'$9)=$&9!#-8*&E#5!4E!$0#!R%'%1$9EN!

^N D0)$! $0#! =&--,'%$E! )'5! $0#! H$,-%*)9)! R)9^#$! ?11&=%)$%&'! Y#9#! $)^#'! 4E!
1,989%1#B!)1!$0#!5#-&*%$%&'B!C&9=#5!#G%=$%&'!)'5!0,-)'!9%/0$1!G%&*)$%&'1!Y#9#!
=)99%#5! &,$! Y%$0&,$! 89%&9! '&$%=#B! =&'1,*$)$%&'B! )*$#9')$%G#! )==&--&5)$%&'!
)'5!=&-8#'1)$%&'N!!
*N

D0)$! $0#! )=$%&'! &C! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! $09&,/0! $0#! R%'%1$9E! &C! $0#!
>'G%9&'-#'$! 9#1,*$#5! %'! $0#! 5%18*)=#-#'$! &C! -&9#! $0)'! ;:::! $9)5#91! )'5!
9#'5#9#5!&G#9!6:::!C)-%*%#1B!Y0&!)9#!'&Y!%-8&G#9%10#5!)'5!0&-#*#11N!

-N D0)$! &,9! -#-4#91! )'5! &$0#9! ,1#91! &C! $0#! R)9^#$! =&,*5! '&$! 5&! -,=0! $&!
-%$%/)$#! $0#%9! *&11#1! &9! 1)*G)/#! $0#%9! Y)9#1B! /&&51! )'5! &$0#9! 89&8#9$%#1!
4#=),1#! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! $09&,/0! $0#! R%'%1$9E! &C! $0#!
>'G%9&'-#'$! 5%5! '&$! %11,#! )'E! 89%&9! '&$%=#1B! )'5! '#%$0#9! $0#! H$,-%*)9)!
R)9^#$!?11&=%)$%&'!'&9!)'E!&$0#9!,1#91!&C!$0#!R)9^#$!Y#9#!=&'1,*$#5!4#C&9#!
$0#!5#-&*%$%&'N!!
'N D0)$!-)'E!&C!$0#!)CC#=$#5!$9)5#91!)'5!C)-%*%#1!)9#!'&Y!C&9=#5!$&!$)^#!10#*$#9!
,'5#9!$0#!2&1$)%'!X9%5/#!Y%$0&,$!)'E!-#)'1!&C!*%G#*%0&&5N!!

!
&N D0)$!)C$#9!$0#!5#-&*%$%&'B!$0#!H$,-%*)9)!R)9^#$!?11&=%)$%&'!Y9&$#!1#9%#1!&C!
*#$$#91!$&!G)9%&,1!&CC%=#1B!-%'%1$9%#1!)'5!&$0#9!)9-1!&C!/&G#9'-#'$1!%'!Y0%=0!
Y#! =&-8*)%'#5! )4&,$! $0#! 5#-&*%$%&'! )'5! C&9=%4*#! #G%=$%&'! &C! &,9! -#-4#91!
)'5! &$0#9! R)9^#$! ,1#91! )'5! 1##^%'/! $0#! /&G#9'-#'$1! %'$#9G#'$%&'N! D0#1#!
*#$$#91!%'=*,5#5K!
!

%N H'!R)9=0!6@B!6:;6B!2*)%-)'$!Y9&$#!$0#!+&'&,9)4*#!2&--%11%&'#9!&C!
$0#! R%'%1$9E! &C! J&=)*! ]&G#9'-#'$! )'5! 20%#C$)%'=E! ?CC)%91! )'5! =&8%#5!
$0#!J)/&1!3$)$#!]&G#9'&9_1!HCC%=#B!$0#!J)/&1!3$)$#!R%'%1$9E!&C!c,1$%=#B!
$0#! R%'%1$9E! &C! >'G%9&'-#'$B! $0#! 20)%9-)'! J&=)*! ]&G#9'-#'$!
R)%'*)'5B!$0#!J)/&1!3$)$#!+&,1#!&C!?11#-4*EB!D0#!?9#)!2&--)'5)'$!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

66!&C!6@!''''''''''''''''''''''''''''''
'

?9#)! 2B! $0#! FN"NH! I8&'9%B! IE)! H\)! R)9^#$! J#)5#9! R)%'*)'5B! 3>.2B! )'5!
-#5%)B!9#/)95%'/!$0#!eM&I3D#$1$*AC"'!3CC$&)'N%F&'23+'2#34*+*'<*+O"#f!
4E!4,**5&S#91!)'5!=&'$9)=$&91!C9&-!V#5'#15)E!;M$0!$&!T9%5)E!;O$0!&C!
R)9=0B!6:;6N!!
!
%%N H'! ?89%*! <B! 6:;6B! 2*)%-)'$! Y9&$#! $0#! 2&--%11%&'#9! C&9! c,1$%=#! )'5!
?$$&9'#E! ]#'#9)*! C&9! $0#! J)/&1! 3$)$#! ]&G#9'-#'$g! $0#! ]&G#9'&9! &C!
J)/&1! 3$)$#! )'5! =&8%#5! $0#! J)/&1! 3$)$#! R%'%1$9E! &C! >'G%9&'-#'$! )'5!
$0#!(#Y1!?/#'=E!&C!(%/#9%)g!$0#!38#)^#9!C&9!$0#!J)/&1!3$)$#!+&,1#!&C!
?11#-4*E!)'5!=&8%#5!+&'&,9)4*#!X)10%9,!H*&$&g!)'5!$0#!"9#1%5#'$!&C!
$0#!T#5#9)*!.#8,4*%=!&C!(%/#9%)!9#/)95%'/!$0#!e@2@'-%+.",'/0$.#$%&'*&,'
N"4%C$#$%&' %1' 2#34*+*' <*+O"#P5%443&$#6f! )1^%'/! $0)$! $0#! J)/&1!
3$)$#! ]&G#9'-#'$! *),'=0! )'! e%'G#1$%/)$%&'! %'$&! $0#! =%9=,-1$)'=#1!
$0)$! *#5! $&! $0#! 5#-&*%$%&'! &C! H$,-)9)! R)9^#$! )'5! $0#! =&--,'%$E!
Y%$0&,$! 89%&9! '&$%=#B! =&'1,*$)$%&'! )'5! =&-8#'1)$%&'f! &9! 8)E-#'$! $&!
)'E! -#-4#91! &C! 2*)%-)'$! )'5! $0)$! $0#! /&G#9'-#'$! =&-8#'1)$#! )'5!
9#*&=)$#!$0&1#!Y0&!Y#9#!#CC#=$#5!4E!$0#!5#-&*%$%&'N!!
!
!

%%%N H'! ?89%*! 7B! 6:;6B! $0#! J)/&1! 3$)$#! ]&G#9'-#'$! R%'%1$9E! &C! c,1$%=#!
?=^'&Y*#5/#5!9#=#%8$!&C!$0#!R)9=0!6@$0B!6:;6!*#$$#9N!
%GN H'! ?89%*! ;<B! 6:;6B! $0#! HCC%=#! &C! $0#! "9#1%5#'$! &C! $0#! 3#')$#!
)=^'&Y*#5/#5!9#=#%8$!&C!$0#!?89%*!<B!6:;6!*#$$#9N!

!
66N D0)$!&'!c)',)9E!66B!6:;<B!T#1$,1!?9&Y&\&*,B!-)*#B!$0#!X))*#!&C!H$,-)9)B!%'C&9-#5!
-#!$0)$K!!
!
)N H'! R)E! ;@$0B! 6:;6B! $0#! X))*#! &C! H$,-)9)B! T#1$,1! ?9&Y&\&*,! )'5! $0#! .,*%'/!
2&,'1#*! Y9&$#! $0#! R%'%1$9E! &C! $0#! >'G%9&'-#'$B! $0#! ]&G#9'&9! &C! J)/&1B! $0#!
HCC%=#! &C! F9)%')/#! 3#9G%=#1B! )'5! $0#! 3$)$#! R%'%1$9E! &C! c,1$%=#! 9#/)95%'/! $0#!
eSCC")*C'T*+*DD4"&#'*&,'2E"+*#$%&'%1'N+",)$&)'*&,'5%&D#+3.#$%&'HC#"+&*#$0"f!
#Z8*)%'%'/! $0)$B! Y%$0&,$! '&$%=#B! H$,-)9)! R)9^#$! Y)1! 5#-&*%10#5! 4E! $0#!
F9#5/%'/! )'5! 2&'1$9,=$%&'! ?*$#9')$%G#! HCC%=%)*1B! $0)$! =&--,'%$E! -#-4#91!
Y#9#! 0)9)11#5! )'5! 49,$)*%S#5! 4E! $0#! 8&*%=#! C&9=#B! )'5! 9#`,#1$%'/! $0)$! $0#!
]&G#9'-#'$! %'G#1$%/)$#! $0#! =%9=,-1$)'=#1! $0)$! *#5! $&! 5#-&*%10%'/! $0#!
R)9^#$N!
!

6<N D0)$!&'!c)',)9E!66B!6:;<B!.#GN!?^%'$%-#0%-!$&*5!-#!$0)$!%'!)55%$%&'!$&!$0#!R)9^#$!
)11&=%)$%&'_1! #CC&9$1B! $0#! H$,-)9)! 2&--,'%$E! F#G#*&8-#'$! ?11&=%)$%&'! Y9&$#!
1#9%#1! &C! *#$$#91! $&! G)9%&,1! &CC%=#1B! -%'%1$9%#1! )'5! &$0#9! )9-1! &C! /&G#9'-#'$1! %'!
Y0%=0! 0#! =&-8*)%'#5! )4&,$! $0#! 5#-&*%$%&'! &C! $0#! H$,-)9)! R)9^#$! )'5! C&9=%4*#!
#G%=$%&'! &C! %$1! -#-4#91! )'5! &$0#9! R)9^#$! ,1#91B! )'5! 1##^%'/! $0#%9! %'$#9G#'$%&'1N!
D0#1#!*#$$#91!%'=*,5#5K!
!
)N H'! R)E! <:B! 6:;6B! $0#! H$,-)9)! 2&--,'%$E! F#G#*&8-#'$! ?11&=%)$%&'! Y9&$#!
$0#! R%'%1$9E! &C! c,1$%=#! 9#/)95%'/! $0#! e-%+.",' /0$.#$%&' *&,' N"4%C$#$%&' %1'

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

6<!&C!6@!''''''''''''''''''''''''''''''
'

!
!
!

2#34*+*' <*+O"#' 534' SCC")*C' T*+*DD4"&#' %1' N+",)$&)' *&,' 5%&D#+3.#$%&'

HC#"+&*#$0"`B! #Z8*)%'%'/! $0)$! Y0#'! $0#! 20)%9-)'! &C! $0#! 2&--,'%$E!
F#G#*&8-#'$! ?11&=%)$%&'! )'5! 2*)%-)'$! 0)5! )$$#'5)'$! )'! )88&%'$-#'$! Y%$0!
$0#! ]&G#9'&9! 9#/)95%'/! $0%1! -)$$#9B! $0#E! Y#9#! 5%9#=$#5! $&! $09##! 5%CC#9#'$!
&CC%=#1! 4#C&9#! 4#%'/! )5G%1#5! 4E! )! /&G#9'-#'$! X)99%1$#9! $0)$! $0#9#! Y)1!
'&$0%'/!$&!5%1=,11!)'5!$0)$!$0#E!=&,*5!-##$!%'!=&,9$N!!
!
4N H'!c,'#!6:B!6:;6B!$0#!H$,-)9)!2&--,'%$E!F#G#*&8-#'$!?11&=%)$%&'!Y9&$#!
$0#!2&'$9&**#9!&C!V&9^1!&C!$0#!T#5#9)*!R%'%1$9E!&C!V&9^1N!!
!
=N H'! ?,/,1$! 66B! 6:;6B! D0#! H$,-)9)! 2&--,'%$E! F#G#*&8-#'$! ?11&=%)$%&'!
Y9&$#! $&! $0#! T#5#9)*! R%'%1$9E! &C! c,1$%=#! 9#/)95%'/! ea"##"+' %1' 5%4EC*$&#' *&,'
5C*+$1$.*#$%&f! #Z8*)%'%'/! $0)$! $0#! R%'%1$9E! &C! "0E1%=)*! "*)''%'/! )'5! d94)'!
F#G#*&8-#'$! 0)5! 9#$,9'#5! $&! $)^#! 80&$&1! &C! $0#! )9#)! )'5! $&! )1^! $0)$! $0#!
/&G#9'-#'$!#'1,9#!$0)$!-&9#!5#-&*%10-#'$!5&#1!'&$!0)88#'N!
5N D0)$!&,9!-#-4#91!)'5!&$0#9!R)9^#$!,1#91!*&1$!#G#9E$0%'/!Y#!0)G#!*)4&,9#5!
$&!=9#)$#!C&9!&G#9!67!E#)91B!5,#!$&!$0#!5#-&*%$%&'!&C!$0#!R)9^#$N!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

6M!&C!6@!''''''''''''''''''''''''''''''
'

'
ABCDCD/E'?BF>?GDEF'!/?2BG'BHD2CD/E'/!'/CI5>?>''
2/55IEDCJ4'7897:'5>?2K';<7;!
'

@3A4$##",'A6B'
3&=%)*!)'5!>=&'&-%=!.%/0$1!?=$%&'!2#'$#9!U3>.?2W!
J)/&1!R)9/%')*%S#5!2&--,'%$%#1!T&9,-!UJ?R2HTH.W!
67!3#8$#-4#9!6:;<!

!
'
'
'
'
>CC>2KBG'BdKDVDCM'

!
!
H##*.=",' *&,' 4*+O",' *D' 5X,*K*-% 7&% Z% 7[' *+"' C"##"+D' F+$##"&' A6' #="' 2#34$C*+*' <*+O"#'
HDD%.$*#$%&'#%'#="'1%CC%F$&)'%11$."DB''
)N +&'&,9)4*#! 2&--%11%&'#9B! R%'%1$9E! &C! J&=)*! ]&G#9'-#'$! )'5! 20%#C$)%'=E!
?CC)%91B! $%$*#5! e?'! d'\,1$%C%)4*#! ",**%'/! F&Y'! &,9! R)9^#$Bf! 5)$#5! R)9=0! 6@B!
6:;6B!-)9^#5!BO6)P)*'>7g!!
4N +%1! >Z=#**#'=E! ]&G#9'&9! X)4)$,'5#! .)\%! T)10&*)B! $%$*#5! e3NHN3N! T&9=#5!
>G%=$%&'! )'5! F#-&*%$%&'! &C! H$,-)9)! R)9^#$h2&--,'%$EBf! 5)$#5! ?89%*! <B!
6:;6B!-)9^#5!BO6)P)*'>;g!!
=N D0#! 2&--%11%&'#9! C&9! c,1$%=#! )'5! ?$$&9'#E! ]#'#9)*! &C! J)/&1! 3$)$#B! $%$*#5!
e3NHN3N! T&9=#5! >G%=$%&'! )'5! F#-&*%$%&'! &C! H$,-)9)! R)9^#$h2&--,'%$EBf!
5)$#5!?89%*!<B!6:;6B!-)9^#5!BO6)P)*'>Qg!
5N $0#!+&'&,9)4*#!38#)^#9!J)/&1!3$)$#!+&,1#!&C!?11#-4*EB!$%$*#5!e3NHN3N!T&9=#5!
>G%=$%&'! )'5! F#-&*%$%&'! &C! H$,-)9)! R)9^#$h2&--,'%$EBf! 5)$#5! ?89%*! <B!
6:;6B!-)9^#5!BO6)P)*'>8g!
#N D0#! F%9#=$&9B! ",4*%=! ?5G%=#! 2#'$9#! &C! $0#! J)/&1! 3$)$#! R%'%1$9E! &C! c,1$%=#B!
$%$*#5! eT&9=#5! >G%=$%&'! )'5! F#-&*%$%&'! &C! H$,-)9)! R)9^#$! 2,-! I**#/)*!
+)9)11-#'$!&C!F9#5/%'/!)'5!2&'1$9,=$%&'!?*$#9')$%G#Bf!5)$#5!R)E!<:B!6:;6B!
-)9^#5!BO6)P)*'>Sg!
CN D0#!"9#1%5#'$B!T#5#9)*!.#8,4*%=!&C!(%/#9%)B!$%$*#5!e3NHN3N!T&9=#5!>G%=$%&'!)'5!
F#-&*%$%&'! &C! H$,-)9)! R)9^#$h2&--,'%$EBf! 5)$#5! ?89%*! <B! 6:;6B! -)9^#5!
BO6)P)*':N!
!
H##*.=",' *&,' 4*+O",' *D' 5X,*K*-% 7P% Z% 7\' *+"' C"##"+D' %1' +"DE%&D"' F+$##"&' #%' #="' 2#34$C*+*'
<*+O"#'HDD%.$*#$%&'1+%4'#="'1%CC%F$&)'%11$."DB''
)N R%'%1$9E! &C! c,1$%=#! &C! $0#! J)/&1! 3$)$#! ]&G#9'-#'$B! $%$*#5! e?'! d'\,1$%C%)4*#!
",**%'/!F&Y'!&,9!R)9^#$Bf!5)$#5!?89%*!7B!6:;6B!-)9^#5!BO6)P)*'>Tg!
4N HCC%=#!&C!$0#!"9#1%5#'$!&C!$0#!3#')$#!&C!$0#!T#5#9)*!.#8,4*%=!&C!(%/#9%)B!$%$*#5!
e.>K!3NHN3N!T&9=#5!>G%=$%&'!)'5!F#-&*%$%&'!&C!H$,-)9)!R)9^#$h2&--,'%$EBf!
5)$#5!?89%*!;<B!6:;6B!-)9^#5!BO6)P)*'>UN!!
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

67!&C!6@!''''''''''''''''''''''''''''''
'

!
!
H##*.=",' *&,' 4*+O",' *D' 5X,*K*-"% U&]U[' *+"' C"##"+D' F+$##"&' A6' #="' J**C"' %1' 2#34*+*' *&,'
(3C$&)'5%3&.$C'#%'#="'1%CC%F$&)'%11$."DB'
)N D0#! +&'&,9)4*#! 2&--%11%&'#9B! R%'%1$9E! &C! >'G%9&'-#'$B! $%$*#5! eI**#/)*!
+)9)11-#'$!)'5!H8#9)$%&'!&C!F9#5/%'/!)'5!2&'1$9,=$%&'!?*$#9')$%G#Bf!5)$#5!
R)E!;@B!6:;6B!-)9^#5!BO6)P)*'V7g!!
4N +%1! >Z=#**#'=EB! ]&G#9'&9! X)4)$,'5#! .)\%! T)10&*)B! $%$*#5! eI**#/)*! +)9)11-#'$!
)'5! H8#9)$%&'! &C! F9#5/%'/! )'5! 2&'1$9,=$%&'! ?*$#9')$%G#Bf! 5)$#5! R)E! ;@B!
6:;6B!-)9^#5!BO6)P)*'V;g!!
=N D0#!?$$&9'#E!]#'#9)*!)'5!2&--%11%&'#9!C&9!c,1$%=#!J)/&1!3$)$#B!5)$#5!?89%*!
<B!6:;6B!-)9^#5!BO6)P)*'VQg!!
5N D0#! F%9#=$&9B! ",4*%=! ?5G%=#! 2#'$9#! &C! $0#! J)/&1! 3$)$#! R%'%1$9E! &C! c,1$%=#B!
$%$*#5! eI**#/)*! +)9)11-#'$! )'5! H8#9)$%&'! &C! F9#5/%'/! )'5! 2&'1$9,=$%&'!
?*$#9')$%G#Bf!5)$#5!R)E!;@B!6:;6B!-)9^#5!BO6)P)*'V8g!)'5!
#N D0#! "#9-)'#'$! 3#=9#$)9EB! HCC%=#! &C! F9)%')/#! 3#9G%=#1B! $%$*#5! eI**#/)*!
+)9)11-#'$!)'5!H8#9)$%&'!&C!F9#5/%'/!)'5!2&'1$9,=$%&'!?*$#9')$%G#Bf!5)$#5!
R)E!;@B!6:;6B!-)9^#5!BO6)P)*'VSN!
!
H##*.=",'*&,'4*+O",'*D'5X,*K*-"%8&%/20%8('*+"'#="'C"##"+D'F+$##"&'A6'2#34*+*'5NH'#%'#="'
1%CC%F$&)'%11$."DB'
)N D0#!2&'$9&**#9!&C!V&9^1B!T#5#9)*!R%'%1$9E!&C!V&9^1B!$%$*#5!e3NHN3N!>^&!X9%5/#!
X#$Y##'!I\&9)!)'5!2&1$)%'Bf!5)$#5!c,'#!6:B!6:;6B!-)9^#5!BO6)P)*'27g!)'5!
4N D0#! F%9#=$&9B! ",4*%=! ?5G%=#! 2#'$#9B! $%$*#5! e.>K! J#$$#9! &C! 2&-8*)%'$! )'5!
2*)9%C%=)$%&'Bf!5)$#5!?,/,1$!66B!6:;6B!-)9^#5!BO6)P)*'2;N!
!
H##*.=",'*&,'4*+O",'*D'5X,*K*-"%E&]E['*+"'"0$,"&."'%1'#="'C")*C'"D#*AC$D=4"&#7'+")$D#+*#$%&7'
*&,')*Y"##$&)'%1'#="'2#34$C*+*'<*+O"#'HDD%.$*#$%&B!
)N HCC%=%)*!])S#$$#B!J)/&1!3$)$#!&C!(%/#9%)!UT&9-!XW!U(&N!<<B!b&*N!<;B!I33(!:;APa
:;@MWB!5)$#5!c,*E!<:B!;PPAB!-)9^#5!BO6)P)*'G7g!
4N 2#9$%C%=)$#! &C! .#/%1$9)$%&'! &C! R)9^#$! ?11&=%)$%&'B! J)/&1! 3$)$#! ]&G#9'-#'$!
R%'%1$9E! &C! J&=)*! ]&G#9'-#'$! )'5! 20%#C$)%'=E! ?CC)%91B! (&N! :PO<B! 5)$#5!
T#49,)9E!6OB!;PPPB!-)9^#5!BO6)P)*'G;g!
=N J#$$#9! &C! .#=&/'%$%&'! C&9! H$,-)9)! R)9^#$B! C9&-! J)/&1! R)%'*)'5! J&=)*!
]&G#9'-#'$B!5)$#5!3#8$#-4#9!;OB!;PP6B!-)9^#5!BO6)P)*'GQg!
5N ?88*%=)$%&'! $&! .#/%1$#9! )1! )! R)9^#$! ?11&=%)$%&'B! UT&9-! ?WB! -)9^#5! BO6)P)*'
G8!
!
H##*.=",'*&,'4*+O",'*D'5X,*K*-"%5&]5^'*+"'#="'E=%#%)+*E=D'#*O"&'A"1%+"7',3+$&)7'*&,'*1#"+'
#="',"4%C$#$%&B'
)N "0&$&/9)80!&C!H$,-)9)!R)9^#$!5,9%'/!$0#!5#-&*%$%&'B!8,4*%=!$&%*#$!$&!$0#!*#C$!
1$%**! 1$)'5%'/! U4,$! 1&&'! $&! 4#! 5#-&*%10#5WB! >^&! X9%5/#! $&! $0#! 9%/0$B! -)9^#5!
BO6)P)*'B7g'
4N "0&$&/9)80!&C!R%'%1$9E!&C!>'G%9&'-#'$!4,1!4#'#)$0!>^&!X9%5/#B!)5\)=#'$!$&!
H$,-)9)! R)9^#$! 4#C&9#! 5#-&*%$%&'B! 3>.?2! )'5! =&--,'%$E! 9#89#1#'$)$%G#1!
$9E%'/!$&!18#)^!$&!R91N!30&*)B!-)9^#5!BO6)P)*'B;g'
!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

6O!&C!6@!''''''''''''''''''''''''''''''
'

=N "0&$&/9)80! &C! =)$#98%**)9! 4,=^#$! Y%$0! '&$%=#! &C! %'\,'=$%&'! C9&-! J)/&1! 3$)$#!
+%/0!2&,9$!5,#!$&!&'/&%'/!*%$%/)$%&'B!-)9^#5!BO6)P)*'BQg'
5N "0&$&/9)80! &C! =)$#98%**)9! Y%$0! '&$%=#! &C! %'\,'=$%&'! C9&-! J)/&1! 3$)$#! +%/0!
2&,9$!5,#!$&!&'/&%'/!*%$%/)$%&'B!-)9^#5!BO6)P)*'B8g'
#N "0&$&/9)80! &C! =&'1$9,=$%&'! =&-8)'E_1! &CC%=#! 1%$#5! %'! $0#! H$,-)9)!
2&--,'%$EB! 4#'#)$0! >^&! 49%5/#B! Y%$0! '&$%=#! &C! %'\,'=$%&'! C9&-! J)/&1! 3$)$#!
+%/0!2&,9$!5,#!$&!&'/&%'/!*%$%/)$%&'B!-)9^#5!BO6)P)*'BSg'
CN "0&$&/9)80! &C! -)9^%'/! 8)%'$#5! 4E! R%'%1$9E! &C! >'G%9&'-#'$! &'! 0&,1#1! )'5!
-)9^#$!1$9,=$,9#1!4#C&9#!5#-&*%$%&'B!-)9^#5!BO6)P)*'B:g'
'
H##*.=",'*&,'4*+O",'*D'/K=$A$#'-8'$D'*'C"##"+'"4E%F"+$&)'@/(H5'#%'+"E+"D"&#'#="'2#34*+*'
<*+O"#'HDD%.$*#$%&'$&'*,0%.*.6'"11%+#DB'
)N J#$$#9!C9&-!H$,-)9)!R)9^#$!?11&=%)$%&'!$&!3>.?2B!$%$*#5!e?889#=%)$%&'!)'5!
>-8&Y#9-#'$Bf!5)$#5!R)9=0!6A!6:;<B!-)9^#5!BO6)P)*'!7N'
'
H##*.=",' *&,' 4*+O",' *D' 5X,*K*-"% J&]J[% $D' *' C"##"+' 1+%4' @/(H5' #%' #="' H##%+&"6' \"&"+*C' %1'
a*)%D'@#*#"7'.%E6$&)'D"0"+*C'*,,$#$%&*C'4$&$D#+$"D'*&,'%11$."D7'F$#='E+%%1'%1'+"."$E#B'
)N J#$$#9! C9&-! 3>.?2! $&! ?$$&9'#E! ]#'#9)*! &C! J)/&1! 3$)$#B! $%$*#5! e.>K! 3,%$! (&N!
Rh@;:h6:;;!?/4&5#-,!I10&*)!R,1%4),!m!H91N!G!J)/&1!3$)$#!>'G%9&'-#'$)*!
3)'%$)$%&'! ?/#'=E! m! H91! [! R)9^%'/! &C! ?88*%=)'$1_! +&,1#1B! R&4%*%S)$%&'! )'5!
3$)$%&'%'/! &C! X,**5&S#91! "9#8)9)$&9E! C&9! F#-&*%$%&'! )$! H$$&hI*)\#! H$,-)9)!
2&--,'%$%#1B!5)$#5!R)9=0!PB!6:;6B!-)9^#5!BO6)P)*'F7g!
4N .#=#%8$! =&8E! &C! 1)-#! *#$$#9! 4E! J)/&1! 3$)$#! >'G%9&'-#'$)*! 3)'%$)$%&'!
>'C&9=#-#'$!?/#'=EB!-)9^#5!BO6)P)*'F;g!
=N .#=#%8$! =&8E! &C! 1)-#! *#$$#9! 4E! 2&--%11%&'#9! C&9! $0#! >'G%9&'-#'$B! J)/&1!
3$)$#!R%'%1$9E!&C!$0#!>'G%9&'-#'$B!-)9^#5!BO6)P)*'FQg!
5N .#=#%8$! =&8E! &C! 1)-#! *#$$#9! 4E! "#9-)'#'$! 3#=9#$)9EB! HCC%=#! &C! F9)%')/#!
3#9G%=#1B!-)9^#5!BO6)P)*'F8g!
#N .#=#%8$!=&8E!&C!1)-#!*#$$#9!4E!+%1!>Z=#**#'=EB!]&G#9'&9!X)4)$,'5#!T)10&*)B!
-)9^#5!BO6)P)*'FSg!
'
H##*.=",'*&,'4*+O",'*D'5X,*K*-"%_&]_(%*+"'%#="+'+"C"0*&#',%.34"&#D'*&,'&"FD'*+#$.C"DB'
)N 2%9=,*)9! ;O@! &C! $0#! J)/&1! 3$)$#! ]&G#9'-#'$B! .#CN! (&N!
2I.h+H3h:PhbHJN;h;O@B!$%$*#5!e3$&88)/#!&C!F#-&*%$%&'!&C!"9&8#9$%#1Bf!5)$#5!
F#=#-4#9!;@B!6::PB!-)9^#5!BO6)P)*'K7g!
4N (#Y1!)9$%=*#K!e?/&'EB!8)%'1!)1!4,**5&S#91!5#-&*%10!1*,-Bf!D0#!()$%&'B!5)$#5!
R)9=0!;OB!6:;6B!-)9^#5!BO6)P)*'K;N!
!

!"#$#$%&'(")*+,$&)'-%+.",'/0$.#$%&'*11".#$&)'2#34*+*'5%443&$#67'89:8;'<*+.='>?8>'
'
'

6@!&C!6@!''''''''''''''''''''''''''''''
'