Está en la página 1de 25

!

"#$%&'()*+,
-#."+/'$%0'12)345
6)+'7%5/.%2+08+'#"5'9:/;%5'2+0'9%2+08+

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

!"##$%&'$&#$("'$)*+,-./#/0+*"$12"'$3+4-"#$*5'",-"#6$*5'",-"#$%&'$&#
!/-'-"&4$12"'$"&#"#$3+4-.*6$("#$7(&58*9+4-.*$:$/00"$/#("'"#$;'"8(*,-"#
3+4-"#$<("'$("*$='>/4"'*6$;'"8(*$?"'*&.#$("*$3.*"*@3+4-.*A$*&#(6$%"##
/8,-$#.4%"#(&B"6$?/'&/4&.#"#$(/>.#C$3&4$("'$D/90"4$E'FG-08#B$H.950&@
F&"'4$*&,-$I"(.,-$(&"$J/B"K
L&"$ *4/#(/'(&*&"'4"6$ >.'@J/,/#*,-"$ M#/&>"N$ 5*+,-./#/0+4&*,-"$ J"*/'4
>.#$ D/90"4$ O&P&"'4$ *&,-$ 2"H/##40&,-$ /8O$ D/90"4*$ &#F"*48Q*"*$ R"B"-'"#
#/,-$ *"&#"'$ 3844"'C$ D/90"4*$ S,-.,H$ 12"'$ ("#$ T.($ *"&#"*$ ?/4"'*$ %&'(
("9B"9G**$/0*$(&"$4'/89/4&*,-"$!&'H8#B$"'H0G'46$(&"$(&"$E'O1008#B$"&#"*
8#2"%8**4"#$B"%/044G4&B"#$!8#*,-"*$<&#$(&"*"9$;/00$("'$T.($("*$?/4"'*A
/8O$(/*$S82I"H4$/8*124C$L"'$U"&*4$("*$4.4"#$?/4"'*6$("'$D/90"4$"'*,-"&#46
&*4$(&"$)'.I"H4&.#$>.#$D/90"4*$"&B"#"'$S,-80($-&#*&,-40&,-$*"&#"*$T.("*@
%8#*,-"*$B"B"#12"'$("9$?/4"'C$S"&#$D/**$/8O$V0/8(&8*$&*4$EOO"H4$"&#"'
#/'F&**4&*,-"#$ W&>/0&4G4$ :$V0/8(&8*6$ /#*4/44$ D/90"4$*"02*4$ 2"H.994$ (&"
3844"'X$*"&#"$Y2#"&B8#B$B"B"#12"'$Z5-"0&/$8#($("'$!"&20&,-H"&4$&9$B/#@
F"#$('1,H4$*"&#"$/BB'"**&>"$Y20"-#8#B$"&#"'$S"P8/0&4G4$&#$&-'"'$"'*4&,H"#@
("#6$&#F"*48Q*"#$;.'9$/8*6$(&"$/8*$("9$;"-0"#$("*$>G4"'0&,-"#$?"'2.4*[
S/#H4&.#$"#4*5'&#B4C$U"9G\$(&"*"'$S4/#(/'(@J"*/'4$0"B4$D/90"4$/0*$9.@
("'#&*&"'4"$?"'*&.#$("*$7(&58*$]"8B#&*$/2$>.#$("'$?"'*4G'H8#B$("*$Q(&@
5/0"#$^#F"*4>"'2.4*$&9$_2"'B/#B$>.#$("'$Y#4&H"$F8'$3.("'#"C$^9$;/00
>.#$7(&58*$-/2"#$%&'$"*$&99"'$#.,-$9&4$^#F"*4$F8$48#6$%G-'"#($&#$D/9@
0"4$("'$&#F"*48Q*"$!8#*,-$>"'('G#B4$8#($>"'*,-.2"#$&*4C$=#($"*$*,-"&#46
(/**$(&"$#G90&,-"$R"F"&,-#8#B$>.#$D/90"4$/0*$]%/#B*#"8'.4&H"'$&#$(&"@
*"$W&,-48#B$O1-'4K$^9$U"B"#*/4F$F8'$D+*4"'&"6$(&"$&#$("'$B/#F"#$<F89&#@
("*4$("'$%"*40&,-"#A$U"*,-&,-4"$F8$O&#("#$&*46$&*4$]%/#B*#"8'.*"$"&#$"&#@
("84&B$9.("'#"*$)-G#.9"#C
!"##B0"&,-$ 9/#$ (&"$ S4G'H"$ "&#"'$ *.0,-"#$ '.28*4"#6$ -"'.&*,-"#
;'"8(*,-"#$ J"*/'4$ >.#$ D/90"4$ /0*$ 9.("'#&*&"'4"#$ 7(&58*9+4-.*$ #&,-4
8#4"'*,-G4F"#$*.004"6$0&"B4$(/*$)'.20"9$(/'&#6$%&"$*&"$9&4$("'$T/4*/,-"$&#
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% !"

E&#H0/#B$F8$2'&#B"#$&*46$(/**$:$.2B0"&,-$&#$("'$J&#&"$U."4-"*$:$D/90"4$/0*
(/*$3.("00$("*$9.("'#"#$^#4"00"H48"00"#$<&#4'.>"'4&"'46$B'120"'&*,-6$8#"#4@
*,-0.**"#A$"'*,-"&#"#$9/B6$("'$3+4-.*$>.#$D/90"4$G04"'$&*4$/0*$("'$>.#
7(&58*C$L/*$U'8#(B"'1*4$("'$D/90"4@E'FG-08#B$<("'$S.-#$'G,-4$("#$?/4"'
B"B"#$("#$2Q*"#$R'8("'$("*$?/4"'*6$("'$(&"*"#$"'9.'("4"$8#($*"&#"#$T-'.#
12"'#/-9X$("'$S.-#$12"'0"24$(&"$&00"B&4&9"$D"''*,-/O4$*"&#"*$Z#H"0*6$&#@
("9$"'$("#$`/''"#$*5&"04$8#($>"''1,H4"6$/2"'$%/-'"$R"9"'H8#B"#$9/,-4A
&*4$"&#$8#&>"'*"00"'$3+4-.*6$("'$12"'/00$B"O8#("#$%&'(6$>.#$("#$/04"#$#.'(&@
*,-"#$a8048'"#$12"'$(/*$Y04"$bB+54"#$2&*$-&#$F89$^'/#$8#($2&*$#/,-$).0+@
#"*&"#C$_2"'(&"*$B&24$"*$B"#8B$R"%"&*"6$89$("#$S,-08**$F8$"'0/82"#6$(/**
(&"$ "&B"#40&,-"$ W"O"'"#F$ (&"*"'$ E'FG-08#B$ 0"4F40&,-$ #&,-4$ F8$ ;/9&0&"#@
T'/89/4/6$*.#("'#$F8$-&990&*,-"#$R"B"2"#-"&4"#$O1-'4K$L"'$B'8#(0"B"#@
("$MS&##N$("*$D/90"4@3+4-.*$&*4$(&"$R"%"B8#B$("'$S4"'#"$&#$&-'"#$"00&54&@
*,-"#$R/-#"#C$L/*$-"&**46$(/**$("'$D/90"4@3+4-.*$H0"&("4$("840&,-$F89
Y8*('8,H$B"2'/,-4"$/*4'.#.9&*,-"$R".2/,-48#B"#$&#$(&"$;/9&0&"#@E'FG-@
08#B!c
!"##$(&"*"$JQ*8#B$/8,-$12"'F"8B"#($"'*,-"&#46$*.$B"'G4$*&"$(.,-$/8@
B"#20&,H0&,-$&#$&-'"$"&B"#"$S/,HB/**"K$L&"$R"%"B8#B$("'$S4"'#"$&*4$&#
*&,-$*"02*4$2"("848#B*0.*6$#8'$"&#$;/H489$("'$`/48'6$.-#"$0&2&(&#Q*"$W"@
*.#/#F6$/0*.$%/'89$12"'*"4F4"$2"F&"-8#B*%"&*"$9"4/5-.'&*&"'4"$9/#$*&"
&#$(&"$U"*4/04$"&#"'$B"#/8$*.0,-"#$;/9&0&"#"'FG-08#B6$(&"$"&#"$8#B"-"8'"
0&2&(&#Q*"$?"'*4'&,H8#B$"'F"8B4d$Y#("'*$/8*B"('1,H4$&*4$(&"$;'/B"$M!/*
9"&#4$!/*dN$&#$(&"*"'$J"*/'4$H"&#"*%"B*$"#4*,-&"("#K$M3"&#4N$(&"$D/9@
0"4@E'FG-08#B$(&"$S4"'#"$.("'$M9"&#"#N$(&"$S4"'#"$(&"$D/90"4@E'FG-08#Bd
U"2'/8,-4"#$(&"$Y04"#$&-'$/*4'.#.9&*,-"*$!&**"#$&#$("'$Y2*&,-46$(&"$E&#@
*&,-4$&#$O8#(/9"#4/0"$0&2&(&#Q*"$S/,HB/**"#$("'$3"#*,--"&4$F8$,.(&"'"#d
E&#"$S/,-"$&*4$-&"'$#&,-4*("*4.%"#&B"'$H0/'K$]"&40&,-$8#($0.B&*,-$^ST$(&"
D/90"4@E'FG-08#B$O'1-"'$/#F8*"4F"#$/0*$("'$Q(&5/0"$3+4-.*C$!&'$-/2"#
"*$-&"'$9&4$("9$3",-/#&*98*$("'$8#2"%8**4"#$?"'*,-&"28#B6$("'$;'"8(
%.-02"H/##4$&*46$F8$48#K$E4%/*6$(/*$0.B&*,-$O'1-"'$&*46$&*4$#8'$/0*$*5G4"'"6
*"H8#(G'"$E#4*4"008#B$"&#"'$/#B"20&,-$M8'*5'1#B0&,-"#N$E'FG-08#B$$%/-'@
#"-92/'$<.("'$%&'($"*6$.("'$*,-'"&24$*&,-$*"02*4$&#$(&"$T"P48'$"&#AC$L/'&#
0&"B4$(&"$.O4$O/0*,-$>"'*4/#("#"$"0"9"#4/'"$3/4'&P$("'$T'/89/'2"&46$%"0@
,-"$(&"$=#4"'*,-"&(8#B$F%&*,-"#$("9$0/4"#4"#$T'/89B"(/#H"#$8#($("9
8#2"%8**4"#$ R"B"-'"#6$ (/*$ *&,-$ &9$ T'/89$ (/'*4"0046$ &#>.0>&"'4K$ ^#$ ("'
T'/89/'2"&4$ &*4$ ("'$ 0/4"#4"$ U"(/#H"$ ,-&OO'&"'4[>"'*,-.2"#6$ /2"'$ B"'/("
(8',-$(&"*"$?"'*,-&"28#B$*4"004$*&,-$("'$/#("'"6$%&'H0&,-$8#2"%8**4"$U"@
(/#H"$(/'C$S.$&*4$"*$&9$;/00$>.#$7(&58*$8#($D/90"4K$^9$U"B"#*/4F$F8'
!# 8$"()9':-;%<

0&#"/'"#[-&*4.'&*4&*,-"#$J"*/'4$>.#$D/90"4$/0*$*"H8#(G'"$E#4*4"008#B$("*
7(&58*@T"P4"*$*4"004$*&,-$89B"H"-'4$("'$>"'('G#B4"$^#-/04$>.#$D/90"4$&#
("**"#$ E#4*4"008#B$ ("*$ 7(&58*$ *"02*4$ (/'C$ L"'$ 7(&58*@3+4-.*$ &*4$ <%&"
*,-.#$D"B"0$2"-/854"4A$("'$B'8#(0"B"#("$3+4-.*$("'$%"*40&,-"#$B'&",-&@
*,-"#$ ]&>&0&*/4&.#$ <("'$ *"02*49Q'("'&*,-"$ S5'8#B$ ("'$ S5-&#P$ '"5'G*"#@
4&"'4$(&"$Y8O0Q*8#B$("*$/04"#$>.'B'&",-&*,-"#$=#&>"'*89*A$:$("'$R"%"&*
(/O1'$ &*4$ (/*$ ;/H4896$ (/**$ *&,-$ (&"$ D/90"4@3/4'&P$ 12"'/00$ &#$ ("'$ >.'@
H0/**&*,-"#$3+4-.0.B&"$O&#("46$2&*$-&#$F89$/04"#$bB+54"#$*"02*46$("**"#
B"&*4&B"'$ =#4"'B/#B$ (8',-$ ("#$ *"02*49Q'("'&*,-"#$ S5'8#B$ ("'$ S5-&#P
2"F"&,-#"4$%&'(C$<!/*$12'&B"#*$2"("84"4$"*6$%"##$(/**"02"$O1'$(/*$V-'&@
*4"#489$B&04K$^*4$"*$#&,-4$;'"8(*$T-"*"6$(/**$("'$U.44"*9.'($&9$`"8"#
T"*4/9"#4$ (/*$ M>"'0"8B#"4"N$ T'/89/$ ("*$ /04"#$ T"*4/9"#4*$ /#*$ J&,-4
2'&#B4dA$!/*$&*4$(/##$(/*$5'G@Q(&5/0"$U"-"&9#&*$>.#$D/90"4d$3/#$*.004"
(&"$Y#*&,-4$'">&(&"'"#6$(/**$7(&58*$("'$"&B"#40&,-"$3+4-.*$&*4$8#($(&"
D/90"4@E'FG-08#B$*"&#"$M9.("'#&*&"'"#("N$?"'F"''8#BC$L&"$J"H4&.#$&*46
(/**$("'$7(&58*@3+4-.*$8#($>&"00"&,-4$(&"$9+4-&*,-"$M`/&>&4G4N$*"02*4
F8'$?"'*,-0"&"'8#B$"&#"*$>"'2.4"#"#$!&**"#*$(&"#46$0"4F40&,-$("9$!&**"#
12"'$(&"$Z2*FQ#&4G4$("*$?/4"'*C
^#$%"0,-"'$W"0/4&.#$*4"-"#$D/#("0#$8#($!&**"#$&#$"&#"'$4'/B&*,-"#$a.#@
*4"00/4&.#d$ L&"$ B'8#(0"B"#("$ Z55.*&4&.#$ &*4$ (&"$ F%&*,-"#$ 7(&58*$ 8#(
D/90"4K$7(&58*$>.002'&#B4$(&"$D/#(08#B$<("#$?/4"'$F8$4Q4"#A6$%"&0$"'$#&,-4
%"&\6$%/*$"'$484C$^9$a.#4'/*4$F8$7(&58*$%"&\$D/90"4$8#($&*4$/8*$(&"*"9
U'8#($#&,-4$OG-&B6$F8'$D/#(08#B$F8$H.99"#$<("#$T.($("*$?/4"'*$F8$'G@
,-"#AC$_2"'(&"*6$%&"$J/,/#$2"4.#46$&*4$"*$#&,-4$#8'$D/90"46$("'$%"&\6$"*
&*4$"2"#*.$D/90"4*$?/4"'6$("'$9+*4"'&Q*"'%"&*"$%"&\6$(/**$"'$4.4$&*4$8#(
*.B/'$%&"$"'$*4/'26$&9$a.#4'/*4$F89$?/4"'$&9$;'"8(*,-"#$T'/896$("'$#&,-4
%8**4"6$(/**$"'$4.4$%/'X$8#($"*$&*4$(&"*"*$"PF"**&>"$!&**"#6$(/*$(/*$H0"&#"
9"0.('/9/4&*,-"$ ;0/&'$ >.#$ D/90"4$ "'H0G'4C$ S.F8*/B"#$ &9$ a.#4'/*4$ F8'
T'/BQ(&"6$(&"$/8O$"&#"'$O"-0"'-/O4"#$E'&##"'8#B$.("'$/8O$^B#.'/#F$2/*&"'46
&#>.0>&"'4$(/*$3"0.('/9$&99"'$"&#$8#"'%/'4"4"*$8#($"PF"**&>"*$!&**"#6
(/*$#&,-4$>.9$D"0("#6$*.#("'#$>.#$*"&#"#[&-'"#$/#("'"#$2"*"**"#$%&'(C
L/*$ !&**"#$ 484$ *&,-$ ("9$ D"0("#$ "'*4$ &#$ ("'$ 0"4F4"#$ 9"0.('/9/4&*,-"#
=9H"-'$ /9$ E#("$ H8#(C$ E*$ B"#1B46$ *&,-$ /#$ ("#$ "9&#"#4$ 9"0.('/9/4&@
*,-"#$0"4F4"#$=9*,-%8#B$&#$!-/'4.#*$MT-"$YB"$.O$^##.,"#,"N$F8$"'&#@
#"'#6$&#$("'$("'$E-"9/##6$("'$I/-'"0/#B$*"&#"$&00"B&4&9"$0"&("#*,-/O40&,-"
J&"2"$F8$U'GO&#$Z0"#*H/$>"'2&'B46$"'OG-'46$(/**$*"&#"$I8#B"$;'/8$(&"$B/#F"
]"&4$12"'$*"&#"$B"-"&9"$J"&("#*,-/O4$R"*,-"&($%8**4"C
?&"00"&,-4$ %1'("$ (/*$ /8,-$ "&#"#$!"B$ "'QOO#"#6$ (&"$ >"'-G#B#&*>.00"#
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% !$

E'"&B#&**"$&#$MT-"$R'&(B"*$.O$4-"$3/(&*.#$V.8#4+$N$/8OF80Q*"#K$%"##
/9$E#("$("*$;&09*$(&"$*4"'2"#("$;'/#,"*,/$"'OG-'46$(/**$&-'$/#B"20&,-
"&#OG04&B"'6$2.("#*4G#(&B"'$E-"9/##$(&"$B/#F"$]"&4$>.#$&-'"'$H8'F"#$0"&@
("#*,-/O40&,-"#$YOOG'"$9&4$("9$)-.4.B'/5-"#$>.#$`/4&.#/0$U".B'/5-&,
%8**4"$8#($%&">&"0$(&"*"$&-'$2"("84"4"6$/2"'$(/'12"'$*,-%&"B6$89$*&"$#&,-4
F8$>"'0"4F"#C
L"9$%.-#4$(/*$WG4*"0$("*$!&**"#*$&##"K$!&"$&*4$"*$9QB0&,-6$(/**$(&"
B/#F"$ 5*+,-&*,-"$ 7H.#.9&"$ "&#"'$ S&48/4&.#$ *&,-$ '/(&H/0$ G#("'46$ /2"'
#&,-46$%"##$("'$D"0($(&'"H4$F8'$a"##4#&*$>.#$"4%/*$B"0/#B4$<"&#$0/#B"
>"'2.'B"#"*$U"-"&9#&*A6$*.#("'#$%"##$"'$"'OG-'46$(/**$("'$/#("'"$<("#
"'$/0*$&B#.'/#4$>"'H/##4"A$"*$"2"#*.$(&"$B/#F"$]"&4$%8**4"$8#($#8'$>.'@
B/26$"*$#&,-4$F8$%&**"#6$89$("#$S,-"&#$F8$%/-'"#C$U&24$"*$"4%/*$E'@
#&"('&B"#("'"*$/0*$(&"$S&48/4&.#$"&#"*$E-"9/##"*6$("'$#/,-$"&#"'$0/#@
B"#$B"-"&9"#$J&"2"*/OOG'"$50Q4F0&,-$F8$-Q'"#$2"H.9946$(/**$*"&#"$;'/8
(&"$ B/#F"$ ]"&4$ (/>.#$ %8**4"6$ /2"'$ /8*$Y,-48#B$ .("'$ *,-0&99"'6$ /8*
J&"2"$&-9$B"B"#12"'$(/'12"'$*,-%&"Bd
^#$MT"'9*$.O$E#("/'9"#4N$"'H0G'4$(&"$H'"2*H'/#H"$L"2'/$!&#B"'6$&9
S4"'2"#$0&"B"#(6$&-'"9$S.-#$<("'$*&"$>"'/2*,-"846$(/$*&"$>.#$&-'"9$E-"@
9/##6$*"&#"9$?/4"'$>"'0/**"#$%8'("A6$(/**$*&"$*&,-$%.-0$2"%8**4$&*46$%&"
*"-'$"'$*&"$%&'H0&,-$0&"24$:$*&"$%"&\6$(/**$"'$(/*$&'B"#(%/##$&#$("'$]8@
H8#O46$#/,-$&-'"9$T.(6$>.'$*&,-$*"02*4$/#"'H"##"#$%&'(C$^#$(&"*"9$Y8@
B"#20&,H$%&'($"'$*&,-$*,-80(&B$O1-0"#$O1'$("#$>"'B/#B"#"#$D/**$/8O$*"&#"
3844"'6$*.$0G**4$*&"$&-#$I"4F4$%&**"#6$(/**$*&"$&-9$&9$?.'/8*$>"'F"&-4$8#(
&-#$*.$>.#$("'$R1'("$F8H1#O4&B"'$S,-80($2"O'"&4C$L&"*"$3/#&580/4&.#$("*
F8H1#O4&B"#$S,-80(B"O1-0*$&*4$2"*4"*$3"0.('/9/C$L"##$B"'/("$(&"*"$U"@
*4"$("'$?"'F"&-8#B$9/,-4$("#$S.-#$&9$?.'/8*$*,-80(&BC$D&"'&#6$&#$(&"*"'
S,-80(&B@S5'",-8#B6$&#$(&"*"'$Y8O"'0"B8#B$"&#"'$*+92.0&*,-"#$S,-80($(8',-
("#$YH4$("'$E'0Q*8#B$2"*4"-4$("'$B'Q\4"$T'&,H$("*$V-'&*4"#489*C
E*$B&24$I"(.,-$"&#"$('&44"$;.'9"06$(&"$F8$(&"*"9$)//'$>.#$ME'$%"&\$"*
#&,-46$.2B0"&,-$"'$"*$484N$8#($ME'$%"&\$"*$8#($H/##$"*$("*-/02$#&,-4$48#N
-&#F8F8O1B"#$&*4K$ME'$%"&\$*"-'$%.-06$%/*$"'$4846$/2"'$#&,-4*("*4.4'.4F6$"'
484$"*NC$!"##$(&"$"'*4"$;.'9"0$("#$4'/(&4&.#"00"#$8#($(&"$F%"&4"$("#$O'1-@
9.("'#"#$D"0("#$/2(",H46$H.92&#&"'4$(&"$0"4F4"$!&**"#$/#0$T/4$&#$"&#"'
F%"&("84&B"#$!"&*"6$(&"$"P"950/'&*,-$O1'$("#$*5G49.("'#"#$F"&4B"#Q**&@
*,-"#$D"0("#$&*4C$L&"$('&44"$;.'9"0$"'0/824$*.F8*/B"#$F%"&$%&'H0&,-$"#4@
B"B"#B"*"4F4"$J"*/'4"#6$*.$"4%/*$%&"$D"B"0*$*5"H80/4&>"*$='4"&06$&#$("9
(/*$DQ,-*4"$8#($(/*$`&"('&B*4"$H.&#F&(&"'"#C$E&#"'*"&4*$&*4$ME'$%"&\$*"-'
%.-0$%/*$"'$4846$/2"'$#&,-4*("*4.4'.4F6$"'$484$"*6N$("'$H0/'*4"$Y8*('8,H$("'
!% 8$"()9':-;%<

F+#&*,-"#$Y44&41("$9.'/0&*,-"'$?"'%.'O"#-"&46$Me/$&,-$2&#$Y2*,-/896$&,-
2"4'1B"$8#($01B"6$%/*$*.00f*d$S.$&*4$(/*$J"2"#gNC$Y#("'"'*"&4*$H/##$(&"@
*"02"$S4"008#B$>.#$ME'$%"&\$*"-'$%.-0$%/*$"'$4846$/2"'$#&,-4*("*4.4'.4F6$"'
484$"*N$"2"#*.$O1'$(/*$'/(&H/0"$U"B"#4"&0$("*$]+#&*98*$*4"-"#6$(/*$-"&**4
O1'$(/*$4'/B&*,-"$R"%8**4*"&#K$L/*$M%/*$&,-$&9$R"B'&OO$2&#$F8$48#N$%&'(
H/4/*4'.5-/0"$a.#*"h8"#F"#$O1'$9"&#$!.-0"'B"-"#$8#($O1'$(/*$!.-0"'@
B"-"#$>.#$("#"#6$(&"$9&'$/9$#G,-*4"#$8#($0&"2*4"#$*&#(6$-/2"#K$T'.4F@
("9$98**$&,-$"*$"&#O/,-$48#6$89$("*$8#"'2&440&,-"#$"4-&*,-"#$U"2.4*$%&0@
0"#C$ <E'&##"'#$ %&'$ 8#*$ /#$ ("#$ 5/'/(&B9/4&*,-"#$ S4/#(58#H4$ ("*$ MO&09@
#.&'N@D"0("#K$^-9$&*4$>.00H.99"#$2"%8**46$(/**$&-#$#8'$?"'-G#B#&*$"'@
%/'4"46$%"##$"'$("9$W8O$("'$O"99"$O/4/0"$O.0B4K$(/**$"'$*&,-$&#$"&#"$(.5@
5"04"$;/00"$-&#"&#2"B&246$(/**$(&"$;'/8$&-#$*&,-"'$2"4'1B"#$%&'(6$/2"'$"'
H/##$&-'$4'.4F("9$#&,-4$%&("'*4"-"#$8#($484$"*cA
L&"*"$ S5/048#B$ &*4$ #&,-4$ #8'$ (&"$ S5/048#B$ F%&*,-"#$ ("'$ L.9G#"$ ("*
M)/4-.0.B&*,-"#N$:$("*$!.-0"'B"-"#*6$("'$;'"8("6$("*$)'.O&4*c$:$8#(
("9$"4-&*,-"#$R"O"-0K$E*$H/##$/8,-$(&"$S5/048#B$F%&*,-"#$("#$9.'/0&@
*,-"#$`.'9"#6$("#"#$&,-$120&,-"'%"&*"$O.0B"$8#($("9$2"(&#B8#B*0.*"#
R"O"-06$("9$F8$B"-.',-"#$&,-$9&,-$>"'5O0&,-4"4$O1-0"6$*"&#6$%&"$(&"$/8*@
%"B*0.*"$S&48/4&.#$>.#$Y2'/-/96$("'$M*"-'$B84$%"&\$%/*$"*$2"("84"4$*"&@
#"#$S.-#$F8$4Q4"#N$8#($*&,-$#&,-4*("*4.4'.4F$"#4*,-"&("46$"*$F8$48#6$.("'
("'$V-'&*46$("'$2"'"&4$&*46$"&#"$*,-'",H0&,-"$S1#("$F8$2"B"-"#$<*"&#"$"%&@
B"$S""0"$F8$.5O"'#A$O1'$(/*$-Q-"'"$]&"0$<B./0A$>.#$U.44"*$D"''0&,-H"&4c
a8'F$B"*/B46$(&"$",-4"6$#/,-@$.("'$9"4/4'/B&*,-"$S&48/4&.#$"'"&B#"4$*&,-6
%"##$"&#"$-Q-"'"$`.4%"#(&BH"&4$9&,-$#Q4&B46$(&"$"4-&*,-"$S82*4/#F$9"&@
#"*$S"&#*$F8$2"4'1B"#C

!&"$1"2/3+$0"3$4)*5#*"&+$./%$0"6$728"9+

=#*"'$e/-'-8#("'4$&*4$*&,-"'$>.00$>.#$H/4/*4'.5-/0"#$E'"&B#&**"#6$("'"#
D.''.'$ >"'9840&,-$ ("#$ ("'$ ?"'B/#B"#-"&4$ 12"'4'&OO4C$Y2"'$ &*4$ "*$ &99"'
#.,-$9QB0&,-6$Y8*,-%&4F$.("'$(&"$S4/0&#&*4&*,-"#$J/B"'$"&#"$T'/BQ(&"$F8
#"##"#d$^*4$#&,-4$&#$("'$).*&4&.#$("'$Z5O"'$("'$S4/0&#&*4&*,-"#$S,-/85'.@
F"**"$.("'$("*$D.0.,/8*4$"4%/*$%"*"#40&,-$W/(&H/0"'"*$/9$!"'Hd$^950&@
F&"'4$ #&,-4$ ("'$ T"'9&#8*$ MT'/BQ(&"N6$ F89&#("*4$ &#$ *"&#"9$ H0/**&*,-"#
U"2'/8,-$(&"$J.B&H$("*$S,-&,H*/0*6$%/*$&9$;/00$("*$D.0.,/8*4$&#*$U'.@
4"*H"$B&#B"d$]8$*/B"#6$(&"$?"'#&,-48#B$("'$e8("#$O.0B"$"&#"'$>"'*4",H4"#
`.4%"#(&BH"&4$("*$S,-&,H*/0*6$-&"\"$%/-'-/O4&B6$*&"$F8$/("0#C
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% !&

J/,/#$2"91-4$*&,-6$/8O$(&"*"$4.4"#$)8#H4"$&#$*"&#"'$"'*4/8#0&,-"#$J"*@
/'4$>.#$)/80$V0/8("0*$V.8O.#4/&#"@T'&0.B&"$"&#"$Y#4%.'4$F8$B"2"#C" $E&@
#"'$("'$5*+,-./#/0+4&*,-"#$U"9"&#50G4F"$&*46$(/**$('"&$U"#"'/4&.#"#$(/F8
2"#Q4&B4$%"'("#6$"&#"#$B84"#$)*+,-.4&H"'$F8$5'.(8F&"'"#C$L"'$Y8*B/#B*@
58#H4$>.#$J/,/#*$Y#/0+*"$("'$V.8O.#4/&#"$T'&0.B&"$&*46$(/**$"2"#*.$('"&
U"#"'/4&.#"#$(/F8$#Q4&B$*&#(6$"&#$<*,-Q#"*A$Z2I"H4$("*$R"B"-'"#*$-"'@
>.'F82'&#B"#C$L"'$U'8#(F8B6$("#$("'$7(&58*@;/9&0&"#@3+4-.*$8#($(&"
V.8O.#4/&#"$;/9&0&"#@S/B/$4"&0"#6$&*46$(/**$&#$2"&("#$;G00"#$(&"$S8HF"**&@
.#$ >.#$ ('"&$ ;/9&0&"#$ ("'$ 3/4'&P$ :$ "'*4"#*$ ("*$ 9/#B"0-/O4"#$ *+92.0&@
*,-"#$Y8*4/8*,-"*6$F%"&4"#*$("'$).*&4&.#$"&#"'$?"'%"&B"'8#B$8#($('&4@
4"#*$("9$E'*,-"&#"#$("*$*820&9"#$Z2I"H4*$("*$R"B"-'"#*$O.0B4C
L&"$M8'*5'1#B0&,-"$S1#("N6$("'$B'.\"04"'0&,-"$R'8,-$("*$*+92.0&*,-"#
)/H4*$<7(&58*f$E04"'#$*"4F"#$&-#$/8*X$S+B#"$("$V.8O.#4/&#"$>"'0"8B#"4
&-'"$ %/-'"$ J&"2"$ 8#($ -"&'/4"4$ ("#$ >"'/,-4"4"#$T8'"08'"A6$ B"2&"'4$ "&#"#
8#"'%1#*,-4"#$Y8\"#*"&4"'$<7(&58*$*"02*4X$J8&*$("$V.8O.#4/&#"A6$("**"#
`/,-H.99"$"&#$3G(,-"#$>.#$/4"92"'/82"#("'$S,-Q#-"&4$&*4$<Y#4&B.@
#"X$(&"$20&#("$)"#*""$("$V.8O.#4/&#"AC
L"#$R"%"&*6$(/**$%&'$"*$-&"'$9&4$"&#"'$4&"O"#$*4'8H48'"00"#$`.4%"#(&B@
H"&4$F8$48#$-/2"#6$0&"O"'4$"&#$('&44"*$R"&*5&"0$"P/H4$("*-/026$%"&0$"*$/8*$("'
*.B"#/##4"#$M).580G'H8048'N$("*$M4&"O"#$;'/#H'"&,-N$*4/994$8#($(&"*"
3/4'&P$&#$&-'"'$H0/'"#6$("*4&00&"'4"#$;.'9$/8OF"&B4K$3/',"0$)/B#.0*$F%"&
`.>"00"#$Me"/#$("$;0.'"44"N$8#($M3/#.#$("*$S.8',"*N6$&#H08*&>"$&-'"'
a&#.>"'*&.#"#$<F8"'*4$(&"$F%"&$;&09"$>.#$)/B#.0$*"02*46$(&"$*"&#"'$`.@
>"00"$>.'/#B&#B"#6$(/##$ijkl$(&"$B'.\"$)'.(8H4&.#$>.#$V0/8("$R"''&AC
D&"'$&*4$("'$=9'&**$("'$E'FG-08#BK$^#$("'$)'.>"#,"$("'$O'1-"#$]%/#F&@
B"'$e/-'"$"'24$("'$28,H"0&B"$e"/#$("$;0.'"44"6$"&#$B"2&0("4"'$S4G(4"'$<S4"8@
"'"&##"-9"'A6$("'$#8'$/8*$R1,-"'#$"4%/*$12"'$J/#(%&'4*,-/O4$0"'#4"6$50Q4F@
0&,-$"&#$H0"&#"*$S41,H$J/#($>.#$*"&#"'$3844"'$;0.'"44"C$S.$50/#4$e"/#6$*&,-
F8*/99"#$9&4$*"&#"'$-&#B"28#B*>.00"#$;'/86$"&#"'$"-"9/0&B"#$Z5"'#@
*G#B"'&#6$8#($3/#.#6$*"&#"'$'"&F"#("#$H0"&#"#$T.,-4"'6$/8O$("'$;/'9$#&"@
("'F80/**"#$8#($a/#&#,-"#$F8$F1,-4"#$:$#&,-4$(&"$120&,-"#$0.H/0"#$)'.@
(8H4"C$e"/#$&*4$"&#"$84.5&*,-"$;&B8'6$&#$&-9$>"'9&*,-"#$*&,-$4&"O"*$'"0&B&Q@
*"*$U"O1-0$8#($(&"$S"-#*8,-4$#/,-$/84-"#4&*,-"9$J"2"#$/8O$("9$J/#(
9&4$("9$!8#*,-6$(/*$J/#($/8O$%&**"#*,-/O40&,-"$Y'4$8#($!"&*"$F8$#84@
F"#C$L&"$^(""6$"&#$/84-"#4&*,-"*$J/#(0"2"#$&9$U"B"#*/4F$F89$H.''89@
5&"'4"#$S4/(40"2"#$F8$O1-'"#6$&*4$-&"'$H0/'$/0*$S4/(49+4-.*$("#8#F&"'4C$L&"
J/#(0"84"$*"02*4$*&#($&9$U"B"#4"&0$&#$*&,-$>"'*,-0.**"#$8#($F8'1,HB"F.@
B"#C$L&"$B'8#(0"B"#("$"4-&*,-"$W"B"0$("'$U"9"&#*,-/O46$(&"$(8',-$e"/#*
!' 8$"()9':-;%<

Y#H8#O4$"'*,-144"'4$%&'(6$&*4$M.#$#"$*f.,,85"$5/*$("*$/OO/&'"*$("*$/84'"*cN
S,-#"00$2/-#4$*&,-$(/*$=#B01,H$/#K$L"'$"'O.0B'"&,-"$/04"$e8#BB"*"00"$V"*/'
8#($*"&#$*,-0&,-4"'$`"OO"$=B.0&#6$("'$J"4F4"$("'$9G,-4&B"#$S.82"+'/#@
;/9&0&"6$"&#*4$(&"$0.H/0"#$).4"#4/4"#6$-/2"#$/#("'"$)0G#"$9&4$("9$S41,H
J/#(C$S&"$9Q,-4"#$(/'/8O$`"0H"#$F1,-4"#6$89$*&"$&#$("'$#/-"$B"0"B"#"#
B'.\"#$S4/(4$F8$>"'H/8O"#C$S.$*,-9&"("#$(&"$2"&("#$"&#"#$*.'BOG04&B"#
)0/#6$89$e"/#$F8$>"'#&,-4"#C$V"*/'6$("'$("#$)0/#$/8*("#H46$&*4$#&,-4$"&#@
O/,-$2Q*"$8#($B&"'&B6$"'$'",-4O"'4&B4$*"&#"$D/#(08#B"#$9&4$*"&#"#$!"'4"#6
(&"$*&,-$'8#($89$(&"$a.#4&#8&4G4$>.#$J/#($8#($;/9&0&"$('"-"#6$*.$(/**$&#
*"&#"#$Y8B"#$ *"&#$ )0/#$ (8',-$ (&"$ `.4%"#(&BH"&46$ (/*$ J/#($ B"B"#$ (&"
O'"9("#$E&#('&#B0&#B"$F8$>"'4"&(&B"#6$>.00H.99"#$B"'",-4O"'4&B4$&*4C$?.'
e"/#*$Y#H8#O4$>"'*4.5O"#$V"*/'$8#($=B.0&#$(&"$m8"00"$/8O$e"/#*$J/#(
9&4$]"9"#46$*.$(/**$e"/#$8#($*"&#"$;/9&0&"6$%"##$"*$#&,-4$'"B#"4$8#($(&"
)O0/#F"#$*,-'895O"#$8#($(&"$D/*"#$F8$*4"'2"#$2"B&##"#6$>.#$O'1-$2&*
*5G4$!/**"'$>.#$"&#"'$%"&4$"#4O"'#4"#$m8"00"$-.0"#$91**"#6$89$&-'"$E'#4"
F8$'"44"#6$#&,-4$%&**"#(6$(/**$>.'$&-'"'$`/*"$"&#"$'"&,-"$m8"00"$0&"B4C$L&"*
B&24$(&"$4'/89/4&*,-"$SF"#"$%&"("'K$L&"$/'9"$;/9&0&"$#&994$("#$0/#B"#
!"B$/8O$*&,-$8#($4'GB4$%&"$3/80"*"0$!/**"'$2&*$F8'$G8\"'*4"#$E'*,-Q5@
O8#B6$%G-'"#($(&"$B"*,-0.**"#"$L.'OB"9"&#*,-/O4$*&"$2".2/,-4"4$:$%.-0@
%&**"#(6$(/**$"&#"$m8"00"$/8O$e"/#*$J/#($&*4C$Y2"'$#&"9/#($"'FG-04$&-9
(/*6$("##$M.#$#"$*f.,,85"$5/*$("*$/OO/&'"*$("*$/84'"*NC$L"'$!&00"$8#($(&"
R"-/''0&,-H"&4$e"/#*$*&#($8#2"8B*/96$8#($"'$*4&'24$0"4F40&,-$2"&$"&#"'$EP@
50.*&.#$<%G-'"#($("*$>"'F%"&O"04"#$?"'*8,-*6$"&#"#$R'8##"#$F8$B'/2"#6
89$!/**"'$F8$2"H.99"#AX$*"&#"$;'/8$&*4$B"F%8#B"#6$(&"$;/'9$/#$V"*/'
8#($=B.0&#6$F8$>"'H/8O"#$8#($F&"-4$9&4$3/#.#$&#$"&#"$"&#*/9"$DQ-0"$&#
"&#"9$#/-"$B"0"B"#"#$R"'BC$V"*/'$8#($=B.0&#6$M"#4(",H"#N$#/41'0&,-$2/0(
(&"$m8"00"$8#($2"B&##"#$`"0H"#$F8$F1,-4"#c
L"'$F%"&4"$T"&0$O&#("4$"&#"$L"H/("$*5G4"'$*4/44K$3/#.#$&*4$#8#$"&#$*,-Q@
#"*$S,-GO"'9G(,-"#6$"&#"$Y'4$Q'40&,-"$;""6$(&"$9+*4"'&Q*$&#$("#$R"'B"#
0"24$8#($(&"$U"*"00*,-/O4$("'$L.'O2"%.-#"'#$9"&("4C$]%"&$3G##"'$-/@
2"#$J&"2"*&#4"'"**"$/#$&-'K$("'$#"8"$I8#B"$S,-800"-'"'$("*$L.'O"*$"2"#*.
%&"$("'$8#B01,H0&,-"6$-G**0&,-"$=B.0&#6$("'$*&,-$0"&("#*,-/O40&,-$&#$*&"
>"'0&"246$/0*$"'$*&"$-"&90&,-$#/,H4$2"&9$S&#B"#$8#($T/#F"#$&#$("'$!&0(#&*
2".2/,-4"4$8#($/8,-$-"&90&,-$?QB"0$8#($D/*"#$&#$&-'"$;/00"$0"B46$89$&-'
F8$-"0O"#C$Y2"'$3/#.#6$(&"$2"'"&4*$/0*$H0"&#"*$3G(,-"#$("'$;'"8#(*,-/O4
=B.0&#*$F8$&-'"'$;/9&0&"$9&**4'/84"6$9/,-4$F%"&$*,-&,H*/0-/O4"$E#4("H@
H8#B"#K$S&"$"'OG-'4$#&,-4$#8'6$(/**$(&"$m8"00"$/9$J/#($&-'"*$?/4"'*$>.#
V"*/'$8#($=B.0&#$>"'*4.5O4$%8'("$8#($(/**$(/*$B/#F"$L.'O$(/>.#$%8**4"X
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% !!

%G-'"#($*&"$8#4"'&'(&*,-"$R"'B-Q-0"#$"'O.'*,-46$"#4(",H4$*&"$/8,-$F8OG0@
0&B$(&"$!/**"'h8"00"$O1'$("#$B/#F"#$Z'4C$S.$&*4$#8#$*&"$/#$("'$W"&-"6$&-'"
W/,-"$ F8$ 50/#"#$ 8#($ /8*F8O1-'"#K$ S&"$ *4"004$ (/*$!/**"'$ O1'$ (/*$ B/#F"
L.'O$/2C$L&"$L&#B"$2"B&##"#$*&,-$#8#$*,-#"00"'$F8$"#4%&,H"0#C$T"&0%"&*"
2"H"##4$*&,-$=B.0&#$QOO"#40&,-$F8$*"&#"9$8#($V"*/'*$?"'2'",-"#$/9$4.@
4"#$e"/#$8#($2&"4"4$5/4-"4&*,-$3/#.#$/#6$*&"$F8$-"&'/4"#$8#($O1'$*&"$F8
*.'B"#6$89$*"&#"$>"'B/#B"#"#$?"'O"-08#B"#$%&"("'$B84F89/,-"#C$`/,-@
("9$*&"$&-#$QOO"#40&,-$/2%"&*46$"'-G#B4$"'$*&,-$8#($>"'9/,-4$*"&#$?"'9Q@
B"#$ 8#($ *"&#$ J/#($ 3/#.#C$ ^#$ ("'$ >"'F%"&O"04"#$ D.OO#8#B$ /8O$ !/**"'
0/("#$(&"$L.'O2"%.-#"'$"&#"#$*4//40&,-"#$!/**"'*5"F&/0&*4"#$"&#6$("'$&-@
#"#$"&#"$3"#B"$H.950&F&"'4"'$T-".'&"#6$/2"'$H"&#$!/**"'$0&"O"'4X$*.$*,-0GB4
("'$Q'40&,-"$)'&"*4"'$"&#"$)'.F"**&.#$'8#($89$("#$D/8542'8##"#$("*$L.'@
O"*$>.'C$^#$*"&#"'$)'"(&B4$*/B4$"'$H0/'6$(/**$(/*$Y8*20"&2"#$>.#$!/**"'$(&"
S4'/O"$O1'$"&#$H.00"H4&>"*$?"'2'",-"#$*"&C$J"4F40&,-$12"'F"8B4$("'$S,-80@
0"-'"'$3/#.#6$("**"#$J&"2"$>.#$&-'$"'%&("'4$%&'($8#($("'$/8,-$>"'984"46
(/**$3/#.#$(/*$U"-"&9#&*$("*$50Q4F0&,-"#$Y8*20"&2"#*$("*$!/**"'*$H"##46
I/$*"02*4$("'$U'8#($(/O1'$&*46$("#$L.'O2"%.-#"'#$F8$>"'F"&-"#$8#($&-#"#
(/*$!/**"'$%&"("'F8B"2"#C$]8*/99"#$2"4'"4"#$(&"$F%"&$(&"$DQ-0"$8#(
2'",-"#$(&"$?"'*5"''8#B$("'$m8"00"$/8O6$*.$(/**$/9$#G,-*4"#$T/B6$%G-@
'"#($("'$)'.F"**&.#$8#($("'$U"2"4"6$(/*$!/**"'$%&"("'$F8$O0&"\"#$2"@
B&##4C$L"'$J"-'"'$8#($3/#.#$-"&'/4"#6$8#($*&"$B"2&"'4$"&#$#"44"*$a&#(
.-#"$R8,H"0C$!G-'"#(("**"#$"'OG-'4$("'$/04"$VG*/'$>.#$"&#"'$/04"#$R"@
H/##4"#6$"&#"'$20&#("#$;'/86$(&"$&-'"$0"4F4"#$T/B"$&9$L.'O$>"'2'&#B46$(/*
U"-"&9#&*$>.#$e"/#*$R8,H"0C$e"/#*$3844"'$;0.'"44"6$"&#"$L.'O*,-Q#-"&46
%/'$V"*/'*$B'.\"$J&"2"C$`/,-$"&#"'$B"9"&#*/9$>"'2'/,-4"#$J&"2"*#/,-4
O8-'$V"*/'$#/,-$Y0B"'&"#6$89$*"&#"#$3&0&4G'(&"#*4$/2F80"&*4"#X$;0.'"44"
%/'$F8$*4.0F6$*&,-$&-'"$J&"2"$F8$&-9$"&#F8B"*4"-"#C$a8'F$(/'/8O$*,-'&"2
*&"$&-9$I"(.,-$"&#"#$R'&"O$#/,-$Y0B"'&"#6$&#$("9$*&"$&-'"$J&"2"$B"*4/#(
8#($"'H0G'4"6$(/**$*&"$>.#$&-9$*,-%/#B"'$*"&C$:$=#B01,H0&,-"'%"&*"$/2"'
"''"&,-4"$("'$R'&"O$V"*/'$#&,-4C$;0.'"44"$(/,-4"6$(/**$V"*/'$*&"$#&,-4$0&"2"
8#($>"'*8,-4"$>"'F%"&O"04$/2"'$"'O.0B0.*6$(/*$%"'("#("$a&#($&#$&-'$/2F8@
4'"&2"#6$&#("9$*&"$*&,-$"4%/$(&"$S4&"B"#$-&#8#4"'*41'F4"C$S,-0&"\0&,-$B&#B
*&"$&#*$#G,-*4"$L.'O6$>"'O1-'4"$*,-#"00$("#$Q'40&,-"#$S,-9&"(6$-"&'/4"4"
&-#$8#($B"2/'$e"/#6$("'6$>"'8'*/,-4$(8',-$&-'"$?"'*8,-"$&-#$/2F84'"&2"#6
/0*$R8,H0&B"'$B"2.'"#$%8'("C$V"*/'$"'OG-'4$O.0B0&,-6$(/**$"'$B"B"#$*"&#"#
"&B"#"#6$"&#F&B"#$S.-#6$#/,-$("9$"'$*&,-$*.$*"-'$*"-#4"6$89$(&"$;/9&0&"#@
0&#&"$O.'4F8*"4F"#6$&#4'&B&"'4$8#($("**"#$T.($>"'8'*/,-4$-/44"C$S"&#"$]"&4
&*4$B"H.99"#$8#($"'$2"*,-0&"\4$F8$*4"'2"#C$E'$*,-'"&24$"&#"#$0/#B"#$R'&"O
()) 8$"()9':-;%<

/#$3/#.#6$&#$("9$"'$&-'$"'H0G'46$(/**$"'$&-'$U'.\>/4"'$*"&6$(/**$"'$&-'$(/*
>.00*4G#(&B"$S.82"+'/#@?"'9QB"#$-&#4"'0/**"$8#($*&"$2&44"46$&-9$F8$>"'@
F"&-"#C$L/##$0"B4$"'$*&,-$-&#$8#($*4&'24$&#$W8-"c
L&"$B/#F"$T'/BQ(&"$&*4$*.$>.#$"&#"9$R'&"O$<;0.'"44"*$/#$V"*/'A$"&#B"@
H0/99"'46$("'$/#$*"&#"9$R"*4&998#B*.'4$F8$*5G46$#/,-$("9$0/#B"#$=9@
%"B$12"'$F%"&$%"&4"'"$U"#"'/4&.#"#6$/#H.994K$L&"$T'/BQ(&"$#&994$&-'"#
J/8O6$/0*$("'$R'&"O$V"*/'$&#$Y0B"'&"#$>"'O"-04$8#($B"0/#B4$F8$&-'"'$JQ*8#B6
/0*$&-#$("'$R'&"O$"#(0&,-$(.,-$"''"&,-4$8#($F%&#B46$*&,-$("'$*,-'",H0&,-"#
T/4*/,-"$F8$*4"00"#6$(/**$"'$8#%&**"#($*"&#"#$"&#F&B"#$S.-#$B"4Q4"4$-/4C
!&"$&9$7(&58*@3+4-.*$8#($%&"$&#$V0/8("0*$V.8O.#4/&#"@T'&0.B&"$"#4@
*4"-4$(/*$*,-Q#"$Z2I"H4$<3/#.#A$/0*$`/,-H.99"#*,-/O4$"&#"*$Y2I"H4*6
("*$8#"'%1#*,-4"#$a&#("*$<e"/#*$R8,H"06$7(&58*f$a0895O8\$&*4$28,-@
*4G20&,-$(/*$]"&,-"#6$(/*$(&"$"04"'0&,-"$Y20"-#8#B$("*$`/,-%8,-*"*$"&#@
*,-'"&24K$ e"/#$ %8'("$ 28,H0&B$ B"2.'"#6$ %"&0$ *"&#"$ 8#B01,H0&,-"$ 3844"'
>"'*8,-4"6$ &-'"$ S,-%/#B"'*,-/O4$ F8$ 2""#("#6$ &#("9$ *&"$ *&,-$ *"02*4$ (&"
S4&"B"#$8#($*4"&0"#$!"B"$-&#8#4"'*41'F4"AC$3/#$&*4$>"'*8,-46$(&"*"$Y2O.0@
B"$>.#$('"&$U"#"'/4&.#"#$(8',-$(&"$J&#*"$("'$89B"H"-'4"#$3/4'&P$("'
('"&$S4/(&"#$("'$0.B&*,-"#$]"&4$F8$0"*"#K#
:$&#$("'$"'*4"#$U"#"'/4&.#$%"'("#$H/4/*4'.5-/0"$E'"&B#&**"$(8',-$("#
>"'-G#B#&*>.00"#$YH4$ O/0*,-"'$ S,-08**O.0B"'8#B"#$ <("'$ "#4O'"9("#("
a.#4'/H4A$&#$R"%"B8#B$B"*"4F4X
:$%/*$(/##$O.0B46$&*4$(&"$M]"&4$("*$R"B'"&O"#*N$<(&"$]"&4$(&"$B"2'/8,-4
%&'(6$89$F8$>"'*4"-"#6$(/**$&,-$9&4$("9$a.#4'/H4$/00"*$>"'0.'6$(/**$&,-$F8
"&#"9$Y2I"H4$'"(8F&"'4$%8'("$:$H8'F$B"*/B46$%/*$-&"'$*4/44O&#("4$&*4$(&"
T'"##8#B$>.9$B'.\"#$Y#("'"#6$(/*$-"&**46$(/**$&,-$9"&#"'$?"'/#H"'8#B
&#$("'$*+92.0&*,-"#$Z'(#8#B$2"'/824$2&#AX
:$F89$S,-08**$("'$M9.9"#4$("$>.&'N$:$8#($%/*$&*4$F8$*"-"#d$L/*$*,-Q@
#"$Z2I"H4$#/41'0&,-g$
L"'$_2"'B/#B$>.9$F%"&4"#$F89$('&44"#$3.9"#4$&*4$Gh8&>/0"#4$9&4$("9
_2"'B/#B$ >.9$ /2*4.\"#("#$ 5-.2&*,-"#$ Z2I"H4$ F89$ "'-Q-4"#$ ;"4&*,-6
(/*$-"&**46$"*$B"-4$89$(&"$=9H"-'$("'$*82I"H4&>"#$E&#*4"008#B$-&#*&,-4@
0&,-$("**"02"#$Z2I"H4*$:$#&,-4$(&"$120&,-"$=9H"-'$>.#$MS,-G4F"#$&#$S,-"&@
\"N6$*.#("'#$(&"$"#4B"B"#B"*"4F4"$=9H"-'$>.#$MS,-"&\"$&#$S,-G4F"N$>.9
%"'40.*"#$Y2I"H4$&#$("#$H.*42/'"#$E("0*4"&#C$!/*$*&,-$&9$D&#4"'B'8#(
>"'2&'B4$ &*4$ (/*$ 3+*4"'&89$ ("'$ E'*,-"&#8#B$ ("*$ *,-Q#"#$ <%"&20&,-"#A
Z2I"H4*K$]8"'*4$"'"&B#"4$*&,-$(&"$M='*1#("N6$("'$"#4O'"9("#("$YH4$("*
Y8*4/8*,-*$<M"&#$R'&"O$:$;0.'"44"*$R'&"O$/#$V"*/'$:$"''"&,-4"$*"&#"#$Y('"*@
*/4"#$#&,-46N$(&"$J&"2"*2"B"B#8#B$*,-"&4"'4"6$(/*$)//'$%8'("$#&,-4$%&"@
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% ()(

("'>"'"&#&B4AC$L&"*"$8'*5'1#B0&,-"$=#*4&99&BH"&4$<V"*/'*$R0&#(-"&4$O1'
(&"$T&"O"$>.#$;0.'"44"*$J&"2"$F8$&-9A$-/4$&-'$M.2I"H4&>"*$a.''"0/4N$&#$("'
/2*,-"80&,-"#$L"O.'9/4&.#$&-'"'$;'8,-4C$!/*$(/##$O.0B46$&*4$(&"$9/B&*,-"
=9H"-'$("'$L"O.'9/4&.#$&#$/4"92"'/82"#("$S,-Q#-"&4$<>.#$e"/#*$T.,-@
4"'$3/#.#A%C
R"&$)/B#.0$*4"004$(&"$T'/BQ(&"$("#$89B"H"-'4"#$7(&58*$(/'K$^9$U"B"#@
*/4F$F8$7(&58*6$("'$8#%&**"#($*"&#"#$?/4"'$4Q4"46$F"'*4Q'4$V"*/'$8#%&*@
*"#($*"&#"#$S.-#C
V"*/'$&*4$#&,-4$"&#O/,-$2Q*"6$"'$>.002'&#B4$*"&#"$*,-'",H0&,-"#$T/4"#$>"'@
/#H"'4$ &#$ ("'$ 4'/(&4&.#"00"#$ E4-&H$ ("'$ 2"(&#B8#B*0.*"#$?"'2&#(8#B$ 9&4
("9$D"&9/42.("#6$89$(&"*"#$89$I"("#$)'"&*$>.'$O'"9("#$E&#('&#B0&#@
B"#$F8$*,-14F"#C
=#($(&"$U"9"&#*,-/O4$*"02*46$(&"$5/**&>$(/*$5'.0.#B&"'4"$J"&("#$>.#
e"/#*$ ;/9&0&"$ 2".2/,-4"46$ O.0B4$ "2"#*.$ &-'"9$ '8(&9"#4G'"#$ "4-&*,-"#
3.44.K$MZ#$#"$*f.,,85"$5/*$("*$/OO/&'"*$("*$/84'"*N6$8#($("**"#$U"B"#@
*41,H6$Mh8/#($.#$5/'0"6$.#$5/'0"$4'.5NC
e"("'$("'$('"&$F"#4'/0"#$9G##0&,-"#$;&B8'"#$&*4$O.0B0&,-$/8O$*"&#"$"&B"@
#"$Y'4$4'/B&*,-C
V"*/'$"'OG-'46$(/**$("'$;"&#(6$("#$"'$F"'*4Q'4"6$*"&#$"&B"#"'$&00"B&4&9"'
S.-#$ %/'C$ E&#$ H0/**&*,-"'$ ;/00$ O1'$ (&"$ B"*,-0.**"#"$ S,-0"&O"$ ("'$ 4'/B&@
*,-"#$E'O/-'8#B6$&#$("'$("'$)O"&06$("'$/2B"*,-.**"#$%8'("6$89$("#$;"&#(
F8$4'"OO"#6$F8$*"&#"9$Y2*"#("'$F8'1,HH"-'4$:$&#$(&"*"9$3.9"#4$*,-0&"\4
*&,-$("'$a'"&*$("*$S,-&,H*/0*$8#($/00"*6$%/*$("9$S82I"H4$12'&B$20"&246$&*4
F8$*4"'2"#6$%&"$("'$/04"$V"*/'$"*$9&4$!1'("$484C$?&"00"&,-4$&*4$(&"$4'/B&*,-@
*4"$;&B8'$("'$U"*,-&,-4"$=B.0&#6$("'$3/#.#$8#F%"&O"0-/O4$9"-'$0&"24$/0*
("'$"-"'$.2"'O0G,-0&,-"$8#($O0&'4"#("$J"-'"'$R"'4'/#($8#($("'$(8',-$*"&#"
S,-80($8#($*"&#"$8#B01,H0&,-"$J&"2"$&#$("#$S"02*49.'($B"4'&"2"#$%&'(C
J"4F40&,-$&*4$(/$"&#$4'/B&*,-"'$Y*5"H4$/#$e"/#$*"02*4$:$/0*$(&"$!.0H"#6$(&"
("#$ "'*"-#4"#$ W"B"#$ O1'$ (/*$ 4'.,H"#"$ J/#($ 2'&#B"#6$ /#$ ("'$ ;/'9$ >.'@
12"'F&"-"#6$"'-"24$"'$*&,-$B"#$D&99"0$8#($*,-'"&4$&#$"&#"9$<0"&,-4$0G@
,-"'0&,-"#A$Y8*2'8,-$>.#$.-#9G,-4&B"9$].'#K$M^,-$2&#$"&#$R8,H0&B"'C
E*$&*4$*,-%&"'&B6$"&#$R8,H0&B"'$F8$*"&#C$^*4$(/$.2"#$#&"9/#(dN$e"/#$*4"-4
O1'$(&"$>G4"'0&,-"$;&B8'6$(&"$&-'$)'.I"H4$&9$?"'4'/8"#$/8O$!"44"'*4/4&*4&H"#6
.-#"$W1,H*&,-4$/8O$("#$S,-/("#6$("#$*"&#"$<S"02*4@A$Y8*2"848#B$*"&#"'
;/9&0&"$F8O1B46$2&*$F89$E#("$>"'O.0B4C& $!/*$*"&#"$T'/BQ(&"$/8*9/,-46$&*4
(&"$>Q00&B"$R"("848#B*0.*&BH"&4$*"&#"'$Y#*4'"#B8#BK$E'$9.2&0&*&"'4$*"&#"
B/#F"$;/9&0&"6$!/**"'$>.#$"&#"'$"#4O"'#4"#$m8"00"$F8$-.0"#6$0/#B"$S48#@
("#6$T/B$O1'$T/B6$#&,-4$B"%/-'6$(/**$(/$"&#"$'"&,-"$m8"00"$>.#$!/**"'
B"'/("$/8O$*"&#"9$J/#($0&"B4C
()* 8$"()9':-;%<

:;#$0"3$<3.=50&"$>/3$?;650&"

L&"$#.'9/0"$R"F&"-8#B$F%&*,-"#$("'$U"9"&#*,-/O4$8#($("9$4'/B&*,-"#
^#(&>&(889$&*4$*.$89B"H"-'4$%.'("#K$^9$=#4"'*,-&"($F8'$H0/**&*,-"#$;.'9
("'$T'/BQ(&"6$&#$("'$(/*$^#(&>&(889$(&"$U"9"&#*,-/O4$>"'0"4F46$&*4$"*$2"&
)/B#.0$(&"$U"9"&#*,-/O46$(&"$(/*$^#(&>&(889$>"'0"4F4C$^#$("'$H0/**&*,-"#
T'/BQ(&"$0&"B4$(&"$S,-80($/8O$("'$S"&4"$("*$(/*$U"*"4F$12"'4'"4"#("#6$-"0@
("#-/O4"#$ ^#(&>&(889*6$ (/*$ (/##$ 2"B#/(&B4$ 8#($ &#$ (&"$ U"9"&#*,-/O4
'"&#4"B'&"'4$%&'(6$%G-'"#($-&"'$(&"$B'8#(0"B"#("$S,-80($(&"$("'$U"9"&#@
*,-/O4$*"02*4$&*4K$S&"$0&"B4$#&,-4$&#$("96$%/*$*&"$B"4/#$-/46$*.#("'#$&#$("'
T/4*/,-"6$(/**$*&"$#&,-4$B"-/#("04$-/46$(/*$-"&**4$&#$("'$L&*H'"5/#F$F%&@
*,-"#$&-'"9$!&**"#$8#($T8#C$:$S&"$-/2"#$"*$B"%8**46$4'.4F("9$%/'$#&"@
9/#($2"'"&46$("9$8#B01,H0&,-"#$e"/#$"&#O/,-$(&"$!/-'-"&4$12"'$(&"$m8"0@
0"$F8$*/B"#c$!"##$("'$2"&*5&"0-/O4"$;/00$("'$H0/**&*,-"#$T'/BQ(&"$("'
"&#"*$D"0("#$&*46$("'$"&#"$D/#(08#B$2"B"-46$("'"#$a.#*"h8"#F"#$/8\"'@
-/02$ ("*$ R"'"&,-*$ *"&#"*$ !&**"#*$ 0&"B"#6$ (/*$ -"&**4$ ("'$ 8#%&**"#($ "&#
?"'2'",-"#$2"B"-46$&#("9$"'$(&"$B"-"&0&B4"#$W"B"0#$*"&#"'$U"9"&#*,-/O4
>"'0"4F46$&*4$2"&$)/B#.0$(&"$U"9"&#*,-/O4$*"02*4$<(/*$a.00"H4&>$("'$L.'O@
2"%.-#"'A$("'$D"0(6$#&,-4$-&#*&,-40&,-$("**"#6$%/*$*&"$4/4"#6$/2"'$2"F1B@
0&,-$("**"#6$%/*$*&"$%8**4"#$8#($#&,-4$4/4"#C$:$Y00"*$%/*$*&"$F8$48#$B"-/24
-G44"#6$%G'"$B"%"*"#6$&-'$!&**"#$e"/#$9&4F84"&0"#6$/#*4/44$#8'$*,-%"&@
B"#("$ ]"8B"#$ F8$ *"&#C$ ;.0B0&,-$ 4'&44$ (&"$ 4'/B&*,-"$ E&#*&,-4$ >.#$ 3/#.#
"&#6$/0*$*&"$"'OG-'46$%/*$(&"$/#("'"#$<(&"$U"9"&#*,-/O4A$%8**4"#6$#&,-46
%/*$*&"$4/4"#C$Y8*$(&"*"9$U'8#($-/4$V"*/'$'",-46$%"##$"'$("#$L.'O2"@
%.-#"'#$"#4B"B"#4'&446$(&"$B"B"#$E#("$("'$E'FG-08#B$50Q4F0&,-$2"B&##"#6
&-#$%"B"#$("*$?"'*4.5O"#*$("'$m8"00"$?.'%1'O"$F8$9/,-"#K$Y8,-$%"##
"*$%/-'$&*46$(/**$"'$8#($=B.0&#$"*$B"4/#$-/2"#6$4"&0"#$/00"$(&"$a.950&F"#@
*,-/O46$(/$*&"$/00"$>.#$*"&#"'$D/#(08#B$%8**4"#c
L&"*"$H.00"H4&>"$S,-80($&*4$&9$5-/#4/*9/4&*,-"#$$R&0($("*$4.4"#$e"/#
(/'B"*4"0046$("'$/0*$U"&*4$89B"-4$8#($(&"$L.'O2"%.-#"'$(8',-$(&"$?.'@
%1'O"$ h8G046$ &-9$ #&,-4$ (&"$ !/-'-"&4$ 12"'$ (&"$ m8"00"$ B"*/B4$ F8$ -/2"#C
3/#.#6$(/*$*,-%"&B*/9"$a&#(6$(/*$#&,-4$B"4G8*,-4$%"'("#$H/##6$*&"-4
8#($"'H"##4$/00"*6$.2B0"&,-$*&"$(&"$12"'9"#*,-0&,-"$Y#*4'"#B8#B$8#($(/*
S,-"&4"'#$&-'"*$?/4"'*$#8'$*,-%"&B"#($2".2/,-4"#$H/##K$&-'"$8#2"-.0O"@
#"#6$H&#(0&,-"#$]"&,-#8#B"#$>.#$("'$B/#F"#$;/9&0&"$2"&9$!/**"'4'/B"#
*&#($(&"$8#"'4'GB0&,-"#$E'&##"'8#B"#$O1'$(&"$U"9"&#*,-/O4C
L&"$Z55.*&4&.#$F%&*,-"#$3/#.#$8#($("'$U"9"&#*,-/O4$&*4$&#$J/,/#*,-"'
T"'9&#.0.B&"$B"%&**$(&"I"#&B"$>.#$e<.8&**/#,"A$8#($Y<84'"A6$F%&*,-"#
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% ()"

("'$S82*4/#F$("*$U"#&"\"#*$8#($("9$B'.\"#$Y#("'"#C$3/#.#$&*4$M>.#
("'$m8"00"NC$S&"$*4"-4$O1'$(/*$W"/0"$("'$J"2"#*h8"00"$<#&,-4$#8'$S"P8/0&@
4G46$*.#("'#$J"2"#$/0*$*.0,-"*A6$("*-/02$&*4$*&"$&9*4/#("6$("#$;08**$("'
J"2"#*"#"'B&"$ <!/**"'A$ /2F8*4"00"#$ 8#($ >"'8'*/,-4$ *.$ (/*$ a'GO4"@
*,-%&#("#$("'$U"9"&#*,-/O4C
Y0*$*&"$>.#$("'$U"9"&#*,-/O4$/8*B"*,-0.**"#$%&'(6$$4'.,H#"4$(&"*"$8#@
%&**"#40&,-$&-'"$"&B"#"$J"2"#**82*4/#F$/8*C$E&#9/0$>.#$&-'"'$S82*4/#F
/2B"*,-#&44"#6$"'*,-"&#4$(&"$U"9"&#*,-/O4$&#$&-'"'$!/-'-"&4$/0*$&95.4"#@
4"*$U"50/55"'$("'$*+92.0&*,-"#$3/*,-&#"'&"K$L"'$*/4&'&*,-"$DQ-"58#H4
>.#$)/B#.0*$`.>"00"$&*4$8#2"F%"&O"02/'$(/*$T'"OO"#$("'$L.'O2"%.-#"'
9&4$("9$W"5'G*"#4/#4"#$("'$*4//40&,-"#$!/**"'2"-Q'("6$("'$*"&#$=#%&**"#
(8',-$ *"&#"$ /8*8O"'#("$ 5*"8(.%&**"#*,-/O40&,-"$ W"("$ 12"'$ (&"$ 9QB0&@
,-"#$U'1#("$("'$Y8*4'.,H#8#B$("'$L.'Oh8"00"$9/*H&"'4C
3/#$H/##$#&,-4$/#("'*$/0*$*&,-$-&"'$/#$(/*$0""'"6$H.9&*,-"$U"'"("$>.#
;'"8(*$('"&$L.H4.'H.00"B"#$&9$F%"&4"#$T"&0$*"&#"*$T'/89*$>.#$^'9/*$^#@
I"H4&.#$F8$"'&##"'#6$%"0,-"$(&"$9QB0&,-"#$E#4*,-80(&B8#B"#$/8OFG-0"#6
(&"$;'"8($>.#$I"("'$S,-80($&#$*"&#"'$R"-/#(08#B$^'9/*$"#40/*4"#$*.00"#C
=#($ 2"F"&,-#"#("'%"&*"$ &*4$ "*$ ("'$ Q'40&,-"$ )'&"*4"'6$ ("'$ /0*$ ?"'9&440"'
&#4"'>"#&"'4$8#($("#$!"B$F8'$?"'*Q-#8#B$/#F"&B46$(/$"'$("#$;.H8*$>.9
%&**"#*,-/O40&,-"#$!&**"#$F8'$*82I"H4&>"#$!/-'-"&4$>"'*,-&"246$&#("9$"'
(&"$L.'O2"%.-#"'$/#$&-'"$H.00"H4&>"$S,-80($"'&##"'4C
E*$&*4$(/##$#&,-4$"'*4/8#0&,-6$(/**$(&"$"#(B104&B"$?"'*Q-#8#B$(8',-$(&"
D"&'/4$ >.#$ 3/#.#$ 8#($ ("9$ I8#B"#$ J"-'"'$ 2"*&"B"04$ %&'(C$ ?"'9&44"0*
3/#.#*$S,-%/#B"'*,-/O4$%&'($(&"$%&"("'$-"'B"*4"004"$D/'9.#&"$F%&*,-"#
("9$W"/0"#$("'$J"2"#**82*4/#F$8#($("9$*+92.0&*,-"#$MB'.\"#$Y#("@
'"#N$2"*4G4&B4C$b-#"04$3/#.#$(/-"'$#&,-4$e8#4/$/8*$J"#&$W&"O"#*4/-0*$O'1@
-"9$;&09%"'H$ML/*$R0/8"$J&,-4N$:$("'$*,-Q#"#$Y8\"#*"&4"'&#6$("'$(&"
R1'B"''",-4"$&#$("'$B"*,-0.**"#"#$L.'OB"9"&#*,-/O4$"#4F.B"#$*&#($8#(
(&"$("#$]8B/#B$F89$U"-"&9#&*$("*$J"2"#*$-/4d
L&"*"$^#4"'>"#4&.#$("*$)'&"*4"'*$F"&B4$"2"#*.$("#$"0"9"#4/'"#$3",-/@
#&*98*$("'$E'*,-"&#8#B$>.#$&(".0.B&*,-"#$R"("848#B"#K$U"#/8$/#$("9
)8#H46$/#$("9$H/8*/0"$E'H0G'8#B"#$<("*$*4//40&,-"#$!/**"'*5"F&/0&*4"#6
("'$ (&"$ U'1#("$ O1'$ (&"$ R0.,H/("$ ("'$ m8"00"$ 0&"O"'#$ *.00A$ O"-0*,-0/B"#6
%&'($ (&"*"$ J""'*4"00"$ 9&4$ R"("848#B$ /8OB"O10046$ (/*$ -"&**4$ ("'$ )'&"*4"'
%",-*"04$(/*$W"B&*4"'$8#($*,-0GB4$("#$3&4B0&"("'#$("'$U"9"&#*,-/O4$>.'6
(/*$Y8*20"&2"#$("*$!/**"'*$#&,-4$"&#O/,-$/0*$W"*804/4$#/41'0&,-"'$)'.F"*@
*"$<%",-*"0#("'$8#4"'&'(&*,-"'$L'8,H6$L1''"6$(/*$8#4"'&'(&*,-"$!/**"'6
(/*$*"&#"$W&,-48#B$%",-*"04$8#($"&#$#"8"*$;08**2"44$O&#("4A$F8$2"4'/,-@
()# 8$"()9':-;%<

4"#6$*.#("'#$/0*$S&B#/0$"&#"*$"4-&*,-"#$;"-0>"'-/04"#*$("'$U"9"&#*,-/O4C
<E'$ *"02*4$ F&"-4$ (&"$ )/'/00"0"$ 9&4$T-"2"#6$ %.$ ("'$ U'8#($ ("'$ )0/B"$ ("'
^#F"*4$("'$HQ#&B0&,-"#$;/9&0&"$%/'CA
L/*$M!8#("'N$"'"&B#"4$*&,-$(/##$&#9&44"#$("'$'"0&B&Q*"#$)'.F"**&.#6$&#
("'$(&"$J"84"$89$!/**"'$2"4"#K$)0Q4F0&,-$2"B&##4$(/*$!/**"'$%&"("'$F8
O0&"\"#$<(/$3/#.#$(&"$m8"00"$O'"&0"B4"AC$U"-4$"*$-&"'$89$"&#"$"&#O/,-"
TG8*,-8#Bd$!.$&*4$("'$%/-'"$'"0&B&Q*"$U0/82"d$L"'$)'&"*4"'$&*4$*&,-$>Q0@
0&B$2"%8**46$%/*$O1'$"&#$S5&"0$B"*5&"04$%&'(C$S"&#"$R.4*,-/O4$/#$3/#.#
&*4K$M^,-$%"&\6$(/**$(/*$!8#("'$#&,-4$%&'H0&,-$"&#$!8#("'$*"&#$%&'(6$(/**
(/*$!/**"'$%&"("'$F8$O0&"\"#$2"B&##"#$%&'(6$%"&0$(8$(&"$m8"00"$O'"&0"B"#
%&'*4$ :$ I"(.,-6$ %/-'"$ !8#("'$ *&#($ #&,-4$ G8\"'0&,-6$ *.#("'#$ &##"'0&,-C
L/*$%/-'"$!8#("'$&*46$(/**$I"9/#($%&"$(86$("'$-&#*&,-40&,-$("'$3&**"4/@
4"#$B"B"#12"'$*"&#"'$;/9&0&"6$(/*$>.00"$W",-4$-/46$8#*"'"$U"9"&#*,-/O4
F8$-/**"#6$/2"'$("##.,-$(&"$S4G'H"$"'%&'246$*"&#"$3"&#8#B$F8$G#("'#$8#(
"&#"$O'"8#(0&,-"$U"*4"$F8$>.002'&#B"#C$L/*$%/-'"$!8#("'$&*4$("'$&##"'"
!/#("06$(8',-$("#$(/*$^#(&>&(889$/8*$("9$]&'H"0$("'$W/,-"$/8*2'&,-4
8#($ ("#$YH4$ ("'$ ?"'F"&-8#B$ >.002'&#B4CN$ L/*$ %/-'"$ !8#("'$ 0&"B4$ &9
'"4'./H4&>"#$=#B"*,-"-"#9/,-"#$>.#$?"'2'",-"#$8#($S,-80(C
!/*$8#*$-&"'$2"B"B#"46$&*4$(/*$&(".0.B&*,-"$MI"$*/&*$2&"#6$9/&*$h8/#(
9n9"N$&#$'"&#*4"'$;.'9K$Z2B0"&,-$(/$H"&#$5-+*&*,-"*$!8#("'$&*46$&*4$-&"'
%/-'-/O4$"&#$!8#("'$/8O$"&#"'$/#("'"#6$M4&"O"'"#N6$M&##"'"#N$E2"#"C$3/#
H/##$-&"'$H0/'$(&"$5'.20"9/4&*,-"$]%&*,-"#5.*&4&.#$>.#$)/B#.0$*"-"#C
E&#"'*"&4*$*,-"&#4$"'$*&,-$/8O$(&"$>.'@9.("'#"$?.'*4"008#B$("'$a.''"*5.#@
("#F$F%&*,-"#$"P4"'#"#6$9/4"'&"00"#$E'"&B#&**"#$8#($("'$M&##"'"#N$!/-'@
-"&4$ F8$ 2"'8O"#6$ "&#"$ a.''"*5.#("#F6$ (&"$ &-'"#$ -Q,-*4"#$Y8*('8,H$ &9
3+4-.*$("*$;&*,-"'HQ#&B*$<(/*$M%/*4"$0/#(N$/0*$Y8*('8,H$("*$"4-&*,-"#
;"-0"'*$ ("*$ aQ#&B*A$ O&#("4C$Y#("'"'*"&4*$ 2"'1,H*&,-4&B4$ "'$ '"O0"P&>$ ("#
&008*.'&*,-"#$V-/'/H4"'$(&"*"'$a.''"*5.#("#FC
L&"*"$]%&*,-"#5.*&4&.#$%&'O4$"&#"#$S,-/44"#$/8O$(/*6$%/*$/0*$(/*$B"@
*,-0.**"#"$9+4-&*,-"$=#&>"'*89$("*$4'/B&*,-"#$S,-&,H*/0*6$&#$("9$/00"
F"'*4'"84"#$D/#(08#B*OG("#$/9$E#("$"&#"$B"%Q-#0&,-"$JQ*8#B$O&#("#6
2"-/854"4$%&'(C
S.$"&#"$"5&*,-"$T'/BQ(&"$*,-"&#4$-"84F84/B"6$&#$"&#"'$E5.,-"6$&#$("'6
89$8#*"'"$Y8O9"'H*/9H"&4**5/##"$/8O'",-4$F8$"'-/04"#6$(&"$B/#F"$]"&4
E'"&B#&**"$/9$R&0(*,-&'9$"P50.(&"'"#$91**"#6$&#$("'$(&"$"&#F&B$F80G**&@
B"#$L&/0.B"$9"-'$8#($9"-'$,0">"'"$.("'$08*4&B"$E&#F"&0"'$*&#($8#($("'
"&#F&B$/HF"54/20"$B'.\"$E#4%8'O$9"-'$8#($9"-'$"&#"$H.#*5&'/4&>"$U"@
*,-&,-4"$&*46$F8'$UG#F"$8#/#B"2'/,-4C$R"&$)/B#.0$/2"'$2"%"B"#$*&,-$(&"
E'"&B#&**"$ &#$ 9/I"*4G4&*,-"'$ U/#B/'46$ *&"$ #"-9"#$ &-'"#$ 8#"'2&440&,-"#
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% ()$

?"'0/8O$12"'$('"&$U"#"'/4&.#"#$-&#%"B6$%&"$&#$"&#"'$B'&",-&*,-"#$T'/BQ@
(&"C$E*$B&24$H"&#"#$*8*5"#*"6$/00"$3.4&>"$%"'("#$&9$?.'/8*$/8*B"2'"&4"4
8#($"*$&*4$>.00H.99"#$H0/'6$%/*$5/**&"'"#$%&'($:$/2"'$B"#/8$/8*$(&"*"9
U'8#($&*4$("'$S,-'",H"#6$("'$"&#4'&446$%"##$"*$%&'H0&,-$5/**&"'46$89$*.$8#@
-"&90&,-"'c$Y2"'$&*4$"*$#&,-4$*.6$(/**$)/B#.06$/#*4/44$"&#$4/4*G,-0&,-"*$9+@
4-&*,-"*$E'0"2#&*$%&"("'F8B"2"#6$(&"$#.*4/0B&*,-"$W"4'.@?"'*&.#$"&#"*$*.0@
,-"#$E'"&B#&**"*$0&"O"'4d$E&#$B"#/8"'$R0&,H$/8O$(&"$('"&$/8O"&#/#("'$O.0B"#@
("#$ ;.'9"#6$ &#$ ("#"#$ )/B#.0*$ U"*,-&,-4"$ ("'$ 7OO"#40&,-H"&4$ 5'G*"#4&"'4
%8'("$<F8"'*4$*"&#"$F%"&$;&09"6$(/##$(&"$W.9/#"$F8$*"&#"#$"&B"#"#$;&0@
9"#6$8#($0"4F40&,-$(&"$F%"&$;&09"$>.#$V0/8("$R"''&A$.OO"#2/'"#$(/*$>"'@
*4",H4"$;/H4896$(/**$("'$Y#O/#B$/9$%"#&B*4"#$9+4-&*,-$&*4K$E'*4$R"''&*
M5.*49.("'#"N$ #.*4/0B&*,-"$?"'*&.#$ 0&"O"'4$ 8#*$ (&"$ >.00"#$ a.#48'"#$ ("*
B"*,-0.**"#"#$ =#&>"'*89*$ ("*$ 9+4-&*,-"#$ S,-&,H*/0*C$!G-'"#($ *&"$ (&"
S58'"#$("*$M/84-"#4&*,-"#N$O'/#FQ*&*,-"#$5'.>&#F&"00"#$L.'O0"2"#*$2"%/-'46
&#$("9$(&"$D/#(08#B"#$("'$J"84"$/04"#6$h8/*&$-"&(#&*,-@'"0&B&Q*"#$38*4"'#
O.0B"#6$F"&B4$)/B#.0*$?"'*&.#$"2"#*.$(/*$T-"/4'/0&*,-"$8#($a.9&*,-"$("'
D/#(08#BX$.2B0"&,-$R"''&*$F%"&$;&09"$M'"/0&*4&*,-"'N$B"('"-4$*&#(6$2"4.#4
"'$(/*$S,-&,H*/0$8#($("#$9"0.('/9/4&*,-"#$EPF"**$<2"F"&,-#"#("'%"&*"
2/*&"'4$(/*$%&,-4&B*4"$98*&H/0&*,-"$J"&49.4&>$("'$;&09"$/8O$?"'(&*$MJ/$O.'F/
("0$ ("*4&#.NAC' ( )/'/(.P"'%"&*"$ ("84"4$ /0*.$ (&"$ B"*,-0.**"#"6$ '&48/0&*&"'4"
>.'9.("'#"$U"9"&#*,-/O4$4-"/4'/0&*,-"$a.9&H$8#($^'.#&"$/#6$%G-'"#($(&"
9.("'#"$M'"/0&*4&*,-"N$!&"("'B/2"$S,-&,H*/0$8#($9"0.('/9/4&*,-"#$EPF"**
2"&#-/04"4C$R"B"B#"#$%&'$-&"'$#&,-4$%&"("'89$("9$)/'/(.P.#$>.#$D/90"4K
L&"$M9+4-&*,-"N$;.'9$("*$#/''/4&>"#$U"-/04*$&*4$#&,-4$("'$Y8*B/#B*58#H46
*.#("'#$ (/*$ E#('"*804/4$ "&#"*$ H.950"P"#$ )'.F"**"*$ ("'$?"'*,-&"28#B"#
8#($ ?"'(&,-48#B"#d$ ^#$ ("#$ ('"&$ /8O"&#/#("'$ O.0B"#("#$ ?"'*&.#"#$ >.#
)/B#.0*$3"&*4"'%"'H$#"-9"#$%&'$*.$(&"$B'/(8"00"$?"'H#Q,-"'8#B$("'$*.@
F&/0"#$a.9Q(&"$("'$S&44"#$&#$3+4-"#$%/-'$:$&#$("'$=9H"-'$("'$M#/41'0&@
,-"#N$Z'(#8#B$B"-4$(&"$R"%"B8#B$>.#$("'$a.9Q(&"$F8'$T'/BQ(&"C$L&"
J"H4&.#$&*46$(/**$"*$#&,-4$B"#1B4$F8$*/B"#6$(/**$-"84F84/B"$3+4-"#$;G0@
*,-8#B"#$*&#(6$8#/84-"#4&*,-"$W"4'.@a8#*45'.(8H4"K$L"'$U"(/#H"$"&#"'
B"OG0*,-4"#$ ^9&4/4&.#$ ("*$ 3+4-.*$ *.004"$ F8$ ("9$ U"(/#H"#$ '/(&H/0&*&"'4
%"'("#6$(/**$("'$3+4-.*$.@%$%;@)*"3$"&#"$;G0*,-8#B$&*4C

!"3$AB+*;%$0"3$C;%+6;0"3#"

L&"*$O1-'4$8#*$F8'$3QB0&,-H"&4$"&#"'$9+4-&*,-"#$S4'8H48'$&#$("'$3.("'#"
F8'1,H6$%.$*.B/'$)-&0.*.5-&"$*"02*4$&#$F%"&$S4/(&"#$'"O0"P&>$%&'(C$]8"'*4
()% 8$"()9':-;%<

>"'0&"'4$*&"$9&4$a/#4*$H'&4&*,-"'$!"#("$&-'"$M=#*,-80(N$8#($2"F&"-4$(&"
;'/B"$#/,-$&-'"#$"&B"#"#$R"(&#B8#B"#$("'$3QB0&,-H"&4$9&4$"&#C$L/##6
9&4$("'$M5.*49.("'#"#N$!"#("6$%&'($)-&0.*.5-&"'"#$M"P5"'&9"#4"00N6$*4"004
#&,-4$9"-'$0G#B"'$8#2"(&#B4"$Y#4%.'4"#$2"'"&46$*.#("'#$*5&"04$9&4$(&OO"@
'"#4"#$M3.("00"#N6$H.92&#&"'4$8#4"'*,-&"(0&,-"$]8BG#B"6$(&"$>.#$>.'#@
-"'"&#$&-'$"&B"#"*$S,-"&4"'#$9&42"'1,H*&,-4&B"#C$:$Y00"*6$%/*$%&'$'&,-4&B
O.'980&"'"#$ HQ##"#6$ &*4$ (&"$ ;'/B"6$ (/*$ WG4*"06$ %G-'"#($Y#4%.'4"#$ #8'
B"*,-"&4"'4"$?"'*8,-"$*&#(6$(&"$J1,H"$F8$O100"#6$(&"$>.#$(&"*"9$WG4*"0
>"'8'*/,-4$%&'(C
?&"00"&,-4$&*4$("'$2"*4"$^#(&H/4.'6$%&"$W"O0"P&>&4G4$8#*"'"$/004GB0&,-"$E'@
O/-'8#B$ ("'$ S82I"H4&>&4G4$ 2""&#O08**46$ ("'$ 8#&>"'*/0&*&"'4"$ ]8*4/#($ ("'
S8,-4K$D"84F84/B"$H/##$9/#$#/,-$/00"9$M*1,-4&BN$*"&#$:$#&,-4$#8'$#/,-
Y0H.-.0$8#($L'.B"#6$*.#("'#$"2"#*.$#/,-$E**"#6$W/8,-"#6$S"P6$Y'2"&4$c
L&"*"$-"84&B"$=#&>"'*/0&*&"'8#B$>.#$S8,-458#H4"#$>"'%"&*4$/8O$(&"$'/@
(&H/0"$=#*&,-"'-"&4$I"("'$*82I"H4&>"#$).*&4&.#K$E*$B&24$H"&#"$>.'-"'2"@
*4&994"#$O&P"#$38*4"'6$/00"*$98**$%&"("'$8#($%&"("'$#"8$/8*B"-/#("04
%"'("#C$=#($(/*$B"-4$2&*$F89$S"02*49.'(C$Y02"'4$V/98*6$&#$*"&#"9$*.#*4
-.OO#8#B*0.*$12"'-.04"#$ML"'$3+4-.*$>.#$S&*+5-.*N6$-/4$(/'&#$'",-4$F8
2"4.#"#6$(/**$S"02*49.'($(/*$"&#F&B$%&'H0&,-"$5-&0.*.5-&*,-"$)'.20"9
&*4C$:$Y2"'$'.##$%&'($"*$(/*d$`8'$&#$("'$9.("'#"#$W"O0"P&.#*B"*"00*,-/O46
%"##$J"2"#$*"02*4$#&,-4$0G#B"'$M>.#$*"02*4$B"-4N$/0*$"&#$M#&,-4$9/'H&"'@
4"*N$3"'H9/0$<89$(&"*"#$>.#$W.9/#$e/H.2*.#$B"5'GB4"#$T"'9&#8*$F8
2"#84F"#A6$ *.#("'#$ /0*$ M9/'H&"'4"*N$ "#4*5'",-"#($ 9.4&>&"'4$ *"&#$ 98**
<%"*-/02$E84-/#/*&"$/HF"54/2"0$%&'(AC
?.'$("'$3.("'#"$%/'$S"02*49.'($#8'$"&#$]"&,-"#$O1'$"&#"$5/4-.0.B&@
*,-"$L+*O8#H4&.#6$?"'F%"&O08#B6$E0"#(C$3&4$("'$W"O0"P&>%"'(8#B$/2"'
%&'($S"02*49.'($"&#$"P&*4"#F&"00"'$YH46$(/*$W"*804/4$"&#"'$'"&#"#$E#4*,-"&@
(8#B6$#&,-4$/8O$.2I"H4&>"*$J"&("#$.("'$5*+,-&*,-"$)/4-.0.B&"$F8$'"(8F&"@
'"#C$L/*$&*4$(&"$/#("'"$S"&4"$>.#$E9&0"$L8'H-"&9*$W"(8H4&.#$("*$S"02*4@
9.'("*$/8O$"&#$*.F&/0"*$;/H4896$(/*$h8/#4&O&F&"'4$8#($>.'/8*B"*/B4$%"'@
("#$H/##K$L&"$F%"&$R"%"B8#B"#6$(&"$Z2I"H4&>&"'8#B[m8/#4&O&F&"'8#B$>.#
S"02*49.'($8#($*"&#"$T'/#*O.'9/4&.#$&#$"&#"#$'"&#$"P&*4"#4&"00"#$YH4$*&#(
*4'&H4$H.''"0/4&>C
!&"$&*4$("'$3+4-.*$(8',-$(&"*"#$)'.F"**$/OO&F&"'4d$E*$&*4$>&"00"&,-4$9"-'
/0*$'"&#$F"&40&,-"$a.&#F&("#F6$(/**$"P/H4$F8$("'$]"&46$/0*$S"'B"I$E&*"#*4"&#
*"&#"#$R"B'&OO$("'$M&#4"00"H48"00"#$3.#4/B"N$"#4%&,H"04"$<8#($5'/H4&F&"'@
4"A6$(/*$Y#"&#/#("'*4"00"#$-"4"'.B"#"'$;'/B9"#4"6$&#$("'$Y2*&,-46$H"&#"
#/''/4&>"$a.#4&#8&4G46$*.#("'#$"&#"$#"8"$R"("848#B$F8$B"#"'&"'"#C
TCSC$E0&.4$5'/H4&F&"'4"$"4%/*$*"-'$b-#0&,-"*$&#$*"&#"9$MT-"$!/*4"$J/#(NC
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% ()&

E'$*4"004"$;'/B9"#4"$/8*$>"'*,-&"("#"#$R"'"&,-"#$("*$Y004/B*0"2"#*$8#(
;'/B9"#4"$>.#$/04"#$3+4-"#$8#($a8#*4%"'H"#$#"2"#"&#/#("'C$L&"$J"&@
*48#B$>.#$M!/*4"$J/#(N$%/'6$;'/B9"#4"$("'$/004GB0&,-"#6$2/#/0"#$3&44"0@
H0/**""'O/-'8#B$/0*$M.2I"H4&>"$a.''"0/4"N$("*[("'$9"4/5-+*&*,-"#$U"O1-0*[
Y49.*5-G'"$("*$8#&>"'*"00"#$]"'O/00*6$("'$L"*&#4"B'/4&.#$("'$!"046$("9
]%&"0&,-4$("'$]&>&0&*/4&.#$F8$5.*&4&.#&"'"#C$L&"*"$B"%Q-#0&,-"#$;'/B9"#4"
<5*"8(.@&#4"00"H48"00"*$U"50/8("'6$U"*5'G,-"$/8*$"&#"9$)826$^95'"**&.@
#"#$>.#$"&#"9$;08**$"4$,"4"'/A$%"'("#$50Q4F0&,-$&#$("#$Y8*('8,H$"&#"*
9"4/5-+*&*,-"#$ =#2"-/B"#*6$ "&#"#$ ]8*4/#(6$ ("'$ D"&("BB"'*$ $ M9/#N
B0"&,-46$M4'/#**82*4/#F&/0&*&"'4NC$E0&.4$*4"-4$-&"'$&9$U"B"#*/4F$F8$!/B#"'6
("'$*"&#"$U"*,-&,-4"$>.9$]%&"0&,-4$("'$UQ44"'$(8',-$12"'0"2"#*B'.\"$:
9+4-&*,-"$:$;&B8'"#$"'FG-04"K$E0&.4$"#4(",H4"6$(/**$(&"*"02"$B'8#(0"B"#@
("$ U"*,-&,-4"$ >&"0$ "OO"H4>.00"'$ (8',-$ ;'/B9"#4"$ /8*$ ("9$ B"%Q-#0&,-@
*4"#6$21'B"'0&,-"#6$/004GB0&,-"#$J"2"#$"'FG-04$%"'("#$H/##c
?&"00"&,-4$ 0&"B4$ (/'&#$ ("'$ _2"'B/#B$ >.9$ *5G4"#$ W.9/#4&F&*98*$ F89
3.("'#&*98*K$S5G4"$W.9/#4&H"'$(/,-4"#$&99"'$#.,-6$(/**$9/#$(&"$B'.@
\"$U"*,-&,-4"$>.9$8#&>"'*"00"#$]"'O/00$9&44"0*$12"'0"2"#*B'.\"'$D"0("#@
"'FG-08#B"#$89*"4F"#$98**6$%G-'"#($3.("'#&*98*$(/*$9"4/5-+*&*,-"
).4"#4&/0$ &#$ ("#$ B"%Q-#0&,-*4"#$ 8#($ >80BG'*4"#$ U"B"#*4G#("#$ 8#*"'"'
4GB0&,-"#$E'O/-'8#B$/8*('1,H4$:$8#($>&"00"&,-4$&#>"'4&"'4$).*49.("'#&*98*
3.("'#&*98*K$3/#$H"-'4$F8$("#$B'.\"#$9+4-&*,-"#$3.4&>"#$F8'1,H6$/2"'
(&"*"$*&#($&-'"'$H.*9&*,-"#$W"*.#/#F$2"'/824$8#($%"'("#$%&"$B"%Q-#0&@
,-"$ ;'/B9"#4"$ 2"-/#("046$ (&"$ 9/#&580&"'4$ %"'("#$ HQ##"#C$ a8'F6$ %G-@
'"#($%&'$&#$("'$3.("'#"$;'/B9"#4"$("*$4GB0&,-"#$J"2"#*$-/2"#6$(&"$"&#"
B0.2/0"$9"4/5-+*&*,-"$?&*&.#$/8*('1,H"#6$O&#("#$%&'$&#$("'$).*49.("'#"
12"'0"2"#*B'.\"$;&B8'"#6$(&"$%&"$;'/B9"#4"$("*$B"%Q-#0&,-"#$J"2"#*
2"-/#("04$%"'("#C
^,-$-/2"$"&#&B"$]"&4$9&4$("'$^(""$B"*5&"046$"&#"#$Y#9"'H8#B*@R/#($F8
"&#"9$#&,-4$"P&*4&"'"#("#$H0/**&*,-"#$T"P4$F8$*,-'"&2"#C$:$L&"*"*$S5&"0
9&4$("9$/2%"*"#("#$]"#4'89$&*4$#.,-$&99"'$3.("'#&*98*6$%&"$V&#(+
S-"'9/#*$O/2"0-/O4"$S4/#(5-.4.*$>.#$#&,-4$"P&*4&"'"#("#$S,-%/'F@!"&\@
;&09"#C$ ).*49.("'#&*98*$ %G'"$ (/*$ "#4B"B"#B"*"4F4"$ )'.F"("'"$ B"%"@
*"#6$(&"$B/#F"$E'FG-08#B$-&#4"'$("9$R&0($<.("'$)-.4.A$F8$&9/B&#&"'"#
8#($(/##$"&#$S41,H$(/'12"'$F8$*,-'"&2"#$.("'$"&#"#$;&09$(/'12"'$F8$('"@
-"#C
E4%/*$G-#0&,-"*$O/#($H1'F0&,-$&#$`"%$o.'H$*4/44C$J+##$W.*"#*$S41,H
M`&B-4-/%H*N6$(/*$&9$;"2'8/'$pqqq$ZOO@R'./(%/+$"'QOO#"4"6$2&"4"4$B"@
#/8$(/*6$%/*$*"&#$T&4"0$>"'*5'&,-4K$"&#"$S"'&"$>.#$SF"#"#6$(&"$>&"'$R&0("'
<MS899"'4&9"6N$ MV.#O"'"#,"$ /4$ `&B-46N$ MS8#0&B-4$ &#$ /$ V/O"4"'&/N$ 8#(
()' 8$"()9':-;%<

#/41'0&,-$$M`&B-4-/%H*N$*"02*4A$>.#$E(%/'($D.55"'$F89$J"2"#$"'%",H46
&#("9$(&"$9QB0&,-"$a.#>"'*/4&.#$&#$("#$I"%"&0*$(/'B"*4"004"#$SF"#"#$8#(
%/*$(&"*"$3"#*,-"#$F8*/99"#2'/,-4"$&9/B&#&"'4$%&'($:$Y#.9&"6$^*.0/@
4&.#6$>"'O"-04"$R"B"B#8#B"#6$-.OO#8#B*0.*"$T'G89"c
^#$*"&#"'$/4"92"'/82"#("#6$B"'/("F8$>80BG'"#$E&#O/,--"&46$&*4$(/*$).*4@
9.("'#&*98*$&#$*"&#"'$'"&#*4"#$;.'9C
L/*$&*4$#&,-4$(/**"02"$%&"$I"#"'$>.'$"&#$5//'$e/-'"#$B"('"-4"$*5/#&*,-"
;&096$("'$>"'*8,-4"6$(&"$=9*4G#("$("'$)'.(8H4&.#$>.#$?"0/*h8"F$MJ/*
3"#&#/*N6$%&"("'"'*4"-"#$F8$0/**"#K$D&"'$*&#($"*$#&,-4$(&"$=9*4G#("$>.#
D.55"'*$ 3/05'.F"**6$ *.#("'#$ (&"$ O&H4&.#/0"$ W"/0&4G4$ ("'$ (/'B"*4"004"#
W"/0&4G4$("'$R&0("'6$(&"$/8*B"2/84$8#($MF89$J"2"#$"'%",H4$%&'(NC
L"'$)8#H4$&*4$#&,-46$(&"$E#4*4"-8#B$"&#"*$3"&*4"'%"'H*$F8$F"&B"#6$*.#@
("'#$"&#O/,-$*"&#"#$U"-/04$/0*$L/'*4"008#B$"&#"'$*.F&/0"#$W"/0&4G4$F8$/H@
F"54&"'"#$8#($(/##$"&#$89O/**"#("'"*$S41,H$(&"*"'$W"/0&4G4$(/'F82&"4"#C
L&"*$ 2'&#B4$ 8#*$ F8$ ("96$ %/*$ >&"00"&,-4$ (/*$ /',-"4+5&*,-"$ 5.*49.("'#"
)'.F"("'"$ &*4K$ (&"$ J""'*4"00"#$ ("'$ H0/**&*,-"#$ T"P4"$ /8OF8O100"#C$ !"##
3.("'#"$("#$3+4-.*$/0*$&#4"'5'"4/4&>"#$W"O"'"#F'/-9"#$&-'"'$F"&4B"#Q*@
*&*,-"$E'FG-08#B$2"#84F46$*,-'"&24$).*49.("'#"$(&'"H4$("#$3+4-.*$*"02*4
896$&#("9$*&"$*"&#"$J""'*4"00"#$O1004C$^#$("'$a8'FB"*,-&,-4"$Mo.8$38*4
W"9"92"'$T-&*6N$2"*,-'"&24$W.2"'4$V.>"'$*"-'$("4/&00&"'4$8#($&#$5.'#.@
B'/5-&*,-"#$T"'9&#&6$%/*$&#$V/*/20/#,/$%G-'"#($("'$*,-&,H*/0-/O4"#$r$s
S"H8#("#$ ("*$ !"B20"#("#*$ >.'$ *&,-$ B&#B6$ (&"$ ("'$ 0"&("#*,-/O40&,-"#
=9/'98#B$F%&*,-"#$R"'B9/#$8#($R.B/'4$O.0B"#C
=#($&*4$("'$-"84&B"$J"*"'@Y84.'$#&,-4$("'$B0"&,-"#$?"'*8,-8#B$&#$a0"&*4*
B'.\/'4&B*4"'$E'FG-08#B$ML&"$3/'h8&*"$>.#$ZcN$/8*B"*"4F46$("'"#$"'*4"'
Y2*/4F$*,-.,H&"'"#($&*4C

!"# $%&# '("')# *'+',-'"+'"# .-/+-# (0# 1*')'"# !-/2('"&# 2('3# +('# 4')5(-5'-'# $/)6,(7'# 41"
8%&#'("'#9/0'#41"#41)-)'::2(;<'0#=,:#,"+#$,--')#41"#0'<)')'"#51<2')>1?'"'"#@("A
+')"&#+,);<#+('#B'(-,"?'"#*'C/""-#0/;<'"&#+/3#7('#1<"'#(<)#D(77'"#("#/"+')'#E07-F"+'
?'C100'"#7'(&#+/3#+')#G/-')#>,#+'0#@("+'&#+/7#7('#?'*F)'"#5H)+'&#7(;<#0'2+'"#7122'#,"+
+/3#7('#/,7#I/0(2('")H;C7(;<-'"#'"-7;<2177'"#5F)'&#(<"#>,#<'()/-'"J!

L"'$.2*FQ#"$S,-.,H$(&"*"'$]"&0"#$2"'8-4$/8O$("'$_2"'&("#4&O&H/4&.#$("'
D"0(&#$9&4$("9$9.'/0&*,-"#$V.("K$S&"$4'"&24$&-'"#$U"-.'*/9$B"B"#12"'
("'$*"P8"00"#$S,-&,H0&,-H"&4$F8$*"&#"9$0G,-"'0&,-"#$EP4'"9C
L&"$D"0(&#$-/4$#&,-4$(&"$B"'&#B*4"$E'&##"'8#B$/#$("#$*"P8"00"#$YH4K$E*
B&24$H"&#"$#"8'.4&*,-"#$S+954.9"6$(&"$*"&#"$?"'('G#B8#B$*&B#/0&*&"'"#
%1'("#$<%"&06$%&"$%&'$>.#$J/,/#$%&**"#6$?"'('G#B8#B$8#($(&"$W1,HH"-'
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% ()!

("*$?"'('G#B4"#$"&#$8#($(/**"02"$*&#(AC$3"-'$/0*$"&#O/,-$>"'('G#B46$&*4
(/*$;/H489$("*$*"P8"00"#$YH4"*$>"'%.'O"#C
^#$M3"#$&#$R0/,HN$-/2"#$(&"$U"-"&9/B"#4"#6$(&"$B"B"#$(&"$Y0&"#*$HG95@
O"#6$"&#"$H0"&#"$20"&*4&O4/'4&B"$R0&4F9/*,-&#"6$(&"$*&"$2"#84F"#6$%"##$#&,-4
/84.'&*&"'4"$ )"'*.#"#$Y0&"#*$ 2"B"B#"#K$ S&"$ 20&4F"#$ (&"$ J"84"$ 9&4$ &-'"'
3/*,-&#"$/#$8#($(&"$E'&##"'8#B$/#$(/*6$%/*$&#$("#$0"4F4"#$3&#84"#$B"@
*,-/-6$%&'($>Q00&B$B"0Q*,-4$<89$&-#"#$(&"$4'/89/4&*,-"#$`/,-2"2"#$F8
"'*5/'"#AC
^*4$"4%/*$>.#$("'*"02"#$S4'8H48'$#&,-4$&9$3",-/#&*98*$("'$?"'%"'O8#B
/9$!"'Hd$^*4$(&"*"$#&,-4$"&#"$G-#0&,-"$5*+,-&*,-"$3/*,-&#"d$=#($&*4$"*
#&,-4$*.6$/0*$.2$(&"$3/'h8&*"$>.#$Zc$"&#"9$G-#0&,-"#$/8*0Q*,-"#("#
R0&4F$/8*B"*"4F4$%.'("#$%G'"d
L&"*"$'/(&H/0"$Y8*0Q*,-8#B$("*$*"P8"00"#$YH4"*$&*4$(8',-$("#$2"'1-9@
4"#$U"(/#H"#*4'&,-$&#$("'$3&44"$("*$S/4F"*6$("'$&-'"$)"&#$2"*,-'"&246$&#(&@
F&"'4K$!G-'"#($("*$S48'9*$'8**&*,-"'$T'855"#$/8O$(&"$]&4/("00"6$(&"$("9
a.99/#(.$&-'"*$?/4"'*$8#4"'*4/#(6$O&"0$*&"$&#$(&"$DG#("$"&#"'$2'84/0"#
O"&#(0&,-"#$T'855"6$(&"$>"'*8,-4"6$*&"$F8$>"'B"%/04&B"#6$*&"$%8'("$>.#
"&#"9$I8#B"#$'8**&*,-"#$ZOO&F&"'6$U'/O$;6$>.'$&-#"#$B"'"44"4C$`/,-$&-'"'
W"448#B$2.4$"'

+')#9/0'#,"-')#'("')#4')*("+2(;<'"#:)/">K7(7;<'"#L")'+'#+'"#L)0#,"+#:H<)-'#7('&#+('
41"#/22'"#712;<'"#L,:-)(--'"#7M)/;<217#5/)&#("#+'"#/"+')'"&#41"#+')#I2/00'#"1;<#"(;<-
')?)(::'"'"#I2H?'2#+'7#N/2/7-'7&#51#7('#/,;<#4K22(?#*'5,3-217#"('+')7/"CJ#O(')#P#-)/:#')&
+/# */2+# +/)/,:# (<)'# ')7;<)1;C'"'"# I)/,'"# ')7;<('"'"&#L"7-/2-'"&# '("'"#L)>-# >,# ),:'"&
4')7(;<')-'&#("+'0#')#7(;<#+'"#O,-#/,:7'->-'&#+/3#7('#7(;<#*/2+#')<12'"#5H)+'&#,"+#C'<)-'
("#+'"#@/0M:#>,)H;CJ"

L"'$ U"(/#H"#*4'&,-$ F%&*,-"#$ M-&"'N$ 8#($ M4'/O$ "'N$ *5&"04$ B"%&**$ "P/H4
(&"*"02"$W.00"$%&"$(&"$r$s@S"H8#("#@SF"#"$&#$("'$`/,-4$/9$T.%"'$("*
;08B-/O"#*6$(&"$^0*/*$8#($W&,H*$0"&("#*,-/O40&,-"'$=9/'98#B$O.0B4$8#(
(&"$(/##$&#$"&#"$SF"#"$12"'B"-46$(&"$/8\"'-/02$>.#$W&,H*$]&99"'$/8OB"@
#.99"#$%8'("C
!/*$B"*,-/-$<%&"$"*$*,-.#$&#$("'$R"*,-'"&28#B$("*$H8'&.*"#$L"4/&0*
>.9$U'/O"#6$("'$M*"&#"#$D84$/8O*"4F4"N6$*&B#/0&*&"'4$%&'(A6$%/'6$(/**$("'
U'/O$("'$8#>"'984"4"#$?"'O1-'8#B$(8',-$&-'"#$Z-#9/,-4*/#O/00$8#4"'@
0/BC$!/*$("'$S8,-"$(8',-$]"&48#B*/##.#,"#$O.0B4$&*46$(/**$("'$U'/O$"'@
*,-"&#4$8#($&-'$/#2&"4"46$*&"$F8$-"&'/4"#6$.2B0"&,-$*&"$&#$&-9$#&,-4$&-'"#
?"'B"%/04&B"'6$*.#("'#$"&#F&B$&-'"#$W"44"'$"'H"##4C$S5G4"'$&#$("'$U"*,-&,-@
4"6$/0*$*"&#"$W.00"$&#$&-'"'$S,-%/#B"'*,-/O4$H0/'$%&'(6$&#*&*4&"'4$*&"$&99"'
(() 8$"()9':-;%<

#.,-$(/'/8O6$&-#$F8$-"&'/4"#6$B"B"#$("#$!&00"#$&-'"'$E04"'#6$2"'"&46$(&"
;&B8'$&-'"*$W"44"'*$&#$("'$;&B8'$&-'"*$?"'B"%/04&B"'*$%&"("'$F8$"'H"##"#C
^#$("'*"02"#$!"&*"$O.0B4$D"B"0$J84-"'$&#$*"&#"#$MU'8#(0&#&"#$("'$)-&0.@
*.5-&"$("*$W",-4*N6$%.$"'$8#*$/#%"&*46$(&"$W.*"$<("'$D.OO#8#B$8#($E'0Q@
*8#BA$&9$91-*/9"#$a'"8F$("'$U"B"#%/'4$F8$"'H"##"#C$:$L&"$R.4*,-/O4
(&"*"'$U"*,-&,-4"$&*4$(&"$M!/-'-"&4N$("'$5/4'&/',-/0"#$U"*"00*,-/O46$/8*@
B"('1,H4$ &#$ D"B"0*$ *5"H80/4&>"'$ R"%"B8#B6$ %"0,-"$ (&"$ ^("#4&4G4$ >.#
?"'B"%/04&B"'$8#($W"44"'6$("**"#$;8#H4&.#$"*$&*46$(&"$;'/8$>.'$("'$?"'B"@
%/04&B8#B$ F8$ '"44"#6$ -"'*4"004K$ Z("'$ #.,-9/0*$ &#$ D"B"0*,-"'$ !"&*"$ "'@
H0G'4K$L/*$S82I"H46$(/*$*,-"&#2/'$B"B"#$"&#"#$G8\"'"#$]%/#B6$4/4*G,-0&,-
/2"'$9&4$*&,-$*"02*46$*"&#"'$"&B"#"#$#&,-4"'H/##4"#$S82*4/#F6$HG95O4C
R"'"&4*$M5.*49.("'#N$&*4$a0"&*4$&#$("'$?.'B/#B*%"&*"$("'$804'/.'4-.(.P"#
S82>"'*&.#$("*$U"*"4F"*$(8',-$*4/'H"$_2"'&("#4&O&H/4&.#$9&4$&-9C
L"'$"P"950/'&*,-"$;/00$&*4$#/41'0&,-$(&"$0/#B"$`.>"00"$3&,-/"0$a.-0-//*6
(&"$/8O$'"/0"#$E'"&B#&**"#$("*$itC$e/-'-8#("'4*$2/*&"'4K$`/,-("9$"'$"&#"
H0"&#"$ =#B"'",-4&BH"&4$ "'0"&("4$ <F%"&$ *"&#"'$ )O"'("$ %"'("#$ >.#$ "&#"9
Q'40&,-"#$Y("0&B"#6$ ("9$ H.''854"#$ R/'.#$ >.#$T'.#H/6$ 9/04'G4&"'4A6$ 2"@
B&##4$a.-0-//*6$"&#$B"/,-4"4"'$*G,-*&*,-"'$)O"'("-G#(0"'6$-/'4#G,H&B$#/,-
U"'",-4&BH"&4$F8$4'/,-4"#X$(/$"'6$>"'8'*/,-4$(8',-$a.''854&.#6$>.#$("#
U"'&,-4"#$#&,-4$W",-4$B"*5'.,-"#$2"H.9946$#&994$"'$(/*$W",-4$*"02*4$&#
(&"$D/#(6$.'B/#&*&"'4$"&#"$2"%/OO#"4"$T'855"6$9&4$("'$"'$"&#"$W"&-"$>.#
S,-0Q**"'#$8#($S4G(4"#$/#B'"&O4$8#($/#F1#("46$&#$("#"#$"'$>"'984"46$(/**
T'.#H/$]8O08,-4$B"O8#("#$-/4C$L&"$B/#F"$]"&4$&#*&*4&"'4$"'$(/'/8O6$(/**$"'
#&,-4$9"-'$%&006$/0*$(&"$R"'&,-4&B8#B$("*$9&#&9/0"#$=#'",-4*6$(/*$&-9
%&("'O8-'C
^#$"&#"'$2"&*5&"0-/O4"#$(&/0"H4&*,-"#$=9H"-'$>"'H"-'4$*&,-$a.-0-//*f
8#2"(&#B4"*$E&#-/04"#$("'$U"*"4F"6$*"&#"$'",-4*"'-/04"#("$U"%/046$&#$(&"
'",-4**"4F"#("$U"%/04$<89$R"#I/9&#*$H0/**&*,-"$Z55.*&4&.#$F8$>"'%"#@
("#AK$L&"$S4/#(/'(*"h8"#F$&*4$-&"'$89B"H"-'46$(/*$-"&**46$"*$&*4$#&,-4$(&"
'",-4*B'1#("#("$U"%/046$(&"6$%"##$"&#9/0$&-'"$W"B"0#$O"*4B"0"B4$*&#(6
'",-4*"'-/04"#($%&'(X$"*$&*4$&9$U"B"#4"&0$(&"$'",-4*"'-/04"#("$U"%/046$(&"
*&,-6$%"##$*&"$F89$EP4'"9$B"4'&"2"#$%&'(6$&#$(&"$B"%/044G4&B"$U'1#(8#B
"&#"*$#"8"#$W",-4*$89H"-'4C
E&#9/0$(/>.#$12"'F"8B46$(/**$(&"$"P&*4&"'"#("$U"*"4F"**4'8H48'$H.''854
&*46$8#OG-&B6$*&,-$/#$(&"$"&B"#"#$W"B"0#$F8$-/04"#6$G#("'4$"'$(/*$*+92.0&@
*,-"$W"B&*4"'$&#$"&#"$2"&#/-"$5/'/#.&("$W&,-48#B6$"'$5'.H0/9&"'4$/0*$W"5'G@
*"#4/4&.#$("*$E'F"#B"0*$3&,-/"0$(&"$^#4"#4&.#6$"&#"$M`"8"$!"04N$F8$"'*,-/O@
O"#$8#($O.'("'4$/00"$B84"#$V-'&*4"#$/8O6$*"&#"'$S/,-"$F8$O.0B"#C
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% (((

<Z2B0"&,-$(&"*"$`.>"00"$ikiq$B"*,-'&"2"#$%8'("6$/0*.$"&#&B"$e/-'"$#/,-
D"B"0*$)-G#.9"#.0.B&"6$*,-"&#4$"*$%&'H0&,-$*.6$(/**$a.-0-//*$9"-'$/0*
S,-&00"'*$D"0("#$"&#$2"&*5&"0-/O4"'$;/00$>.#$D"B"0*$M(/*$U"*"4F$("*$D"'@
F"#*$8#($("'$!/-#*&##$("*$E&B"#(1#H"0*N$&*4C$Y9$E#("$("'$`.>"00"$H.994
"*$F8$"&#"'$"&B"#/'4&B"#$?"'*Q-#8#BK$a.-0-//*$%&'($F89$T.("$>"'8'4"&046$I/
"'$/HF"54&"'4$"*$B"0/**"#6$(/$"'$*"&#$*,-"&#2/'$8#2"("84"#("*$]&"0$"''"&,-4
-/4K$ L&"$ 2"&("#$ )O"'("$ %"'("#$ &-9$ &#$ >.00"'$ U"*8#(-"&4$ 8#($ S,-Q#-"&4
F8'1,H"'*4/44"4$8#($R/'.#$T'.#H/$%&'($/8\"'("9$F8$F%"&$e/-'"#$U"OG#B@
#&*$>"'8'4"&04CCC$L&"*"$E'FG-08#B$F"&B46$%&"$"&#$"PF"**&>"*$S4'"2"#$#/,-$U"@
'",-4&BH"&4$(8',-$M"&#"#6$("'$/#$("#$W"B"0#$H0"24N$8#($("'$.-#"$?"'*4G#(@
#&*$O1'$(&"$8#B"*,-'&"2"#"#$W"B"0#6$%"0,-"$(&"$Y#%"#(8#B$("'$U"*"4F"
"'9QB0&,-"#6$ (&"$ E&#-/048#B$ ("*$ U"*"4F"*$ O.'("'46$ &9$?"'2'",-"#$ "#("4K
E&#"$ B"'&#BO1B&B"$ _2"'4'"48#B$ *"4F4$ :$ /#/0.B$ F89$ *.$ B"#/##4"#
S,-9"44"'0&#B*"OO"H4$:$"&#"$Y2O.0B"$>.#$E'"&B#&**"#$&#$R"%"B8#B6$(&"$("9
B/#F"#$J/#($12"'5'.5.'4&.#/0"#$S,-/("#$F8O1B4C$a"&#$!8#("'6$(/**$E'#*4
R0.,-$a.-0-//*$/0*$("#$M^99/#8"0$a/#4$("*$W",-4*N$,-/'/H4"'&*&"'4"C!)
L&"$e/9"*@R.#(@;&09"$0&"O"'#$"&#"$*+99"4'&*,-"$=9H"-'$>.#$a0"&*4*
2"&("#$T"P4"#C$E&#"'*"&4*$"#("#$(&"$9"&*4"#$;&09"$9&4$("'$*"04*/9$84.5&@
*,-"#$SF"#"$("*$*"P8"00"#$YH4*6$("'$F8B0"&,-$&#4&9$8#($"&#$B"4"&04"*$H.0@
0"H4&>"*$E'0"2#&*$&*4K$!"##$R.#($0"4F40&,-$/00"&#$9&4$("'$;'/8$*,-0GO46$%&'(
(&"$YH4&>&4G4$("*$)//'"*$12"'%/,-4$</2B"-Q'4$.("'$/8O$/#("'"$:$*/B"#$%&'
:$(&B&4/0"$Y'4$'"B&*4'&"'4A$8#($F%/'$O1'$("#$B'.\"#$Y#("'"#6$("'$-&"'$>.#
R.#(*$5'.O"**&.#"00"'$U"9"&#*,-/O4$<36$3&**$3.#"+5"##+X$mC$"4$,"4"'/A
>"'HQ'5"'4$%&'(C$^9$0"4F4"#$R.#(6$MY54"(f*$T-"$!.'0($^*$`.4$E#.8B-N
<ijjjA6$%&'($(&"*"'$YH4$/8O$#"44"$!"&*"$/0*$%/'9"'$;0",H$/8O$("9$S/4"0@
0&4"#2&0($%&"("'B"B"2"#$:$mf*$E'*/4F$<e.-#$V0""*"A$*,-/04"4$(&*H'"4$("#
R&0(*,-&'9$/8*$8#($-G04$*.$(&"$/#("'"#$>.#$("'$R"O'&"(&B8#B$&-'"'$`"8@
B&"'("$/2C$R.#(6$("'$*.#*4$*"02*4$/0*$("'$B'.\"$Y#("'"$<>.'/8*B"*"4F4$/0*
&("/0"'$]"8B"A$O1'$("#$B'.\"#$?"'2'",-"'$(&"#46$2'/8,-4$-&"'$*"02*4$("#
B'.\"#$Y#("'"#K$E'*4$(&"*"$]"8B"#$M2"%&'H"#$(&"$EP&*4"#FN$*"&#"'$*"P8@
"00"#$YH4&>&4G4C$<L&"*"$?.'*4"008#B$("*$*"P8"00"#$YH4"*6$("'$>.9$B'.\"#
Y#("'"#$("'$U"*"00*,-/O4$/#"'H/##4$%&'(6$'8O4$*.B/'$Y(.'#.$&#$M3&#&9/
3.'/0&/N$%/,-K$Y(.'#.$0&"*4$(&"$*5'&,-%Q'40&,-"$SF"#"$("*$'"&,-"#$3/#@
#"*6$("'$*"&#"$I8#B"$U"0&"24"$&#$("'$7OO"#40&,-H"&4$F8'$S,-/8$*4"0046$.2@
B0"&,-$"'$H"&#"#$S"P$9&4$&-'$-/46$/0*$)-/#4/*&"$("*$>Q00&B$2"O'"&4"#$S"P"*CA
Y#("'"'*"&4*$ "'QOO#"4$ (&"*"*$ E#("$ "&#"$ J""'*4"00"6$ (&"$ #/,-$ "&#"'$ 5.*4@
9.("'#"#$=9*,-'"&28#B$*,-'"&4C$L/*$&*4$*.F8*/B"#$(/*$WG4*"0$("'$e/9"*@
R.#(@;&09"K$!/*$5/**&"'4$(/F%&*,-"#6$F%&*,-"#$(&"*"'$0"4F4"#$U01,H*"@
((* 8$"()9':-;%<

0&BH"&4$8#($("9$Y#O/#B$("*$#D)*%+"#$R.#(@;&09*6$&#$("9$R.#($"'#"84
>.#$3$B"'8O"#$%&'(6$89$"&#"$3&**&.#$F8$"'O100"#d$?&"00"&,-4$%G'"$(/*$("'
5.*49.("'#"$R.#($;&096$"&#"$Y'4$0/#B%"&0&B"*$"P&*4"#F&"00"*$L'/9/$12"'
"&#$?"'-G04#&*$&9$?"'O/00K$R.#($%&'($"*$F8*"-"#(*$0/#B%"&0&B$9&4$*"&#"9
3G(,-"#6$H0"&#"$aG95O"$2"B&##"#6$(/*$3G(,-"#$%&00$(&"$D"&'/46$%G-@
'"#($R.#($(/B"B"#$&*46$"4$,"4"'/c6$*.$(/**$R.#($0"4F40&,-$"'0"&,-4"'4$&*46
%"##$("'$W8O$>.#$3$&-9$"'9QB0&,-46$("'$R"F&"-8#B6$(&"$&99"'$0/#B%"&@
0&B"'$8#($"'*4&,H"#("'$B"%.'("#$&*46$F8$"#4H.99"#C
`.,-$"&#$/#("'"'$!"B6$(&"$Z55.*&4&.#$F%&*,-"#$3.("'#&*98*$8#($).*4@
9.("'#&*98*$F8$H.#F"548/0&*&"'"#6$%G'"$("'$12"'$(&"$S5/##8#B$F%&*,-"#
3+4-.*$8#($ME'FG-08#B$"&#"'$'"/0"#$U"*,-&,-4"NC$L&"$5/'/(&B9/4&*,-"
9.("'#&*4&*,-"$U"*4"$&*4$"*6$"&#$/00B"9"&#$>"'2'"&4"4"*6$/004GB0&,-"*$E'@
"&B#&*$&#$("'$Y'4$/8OF8B'"&O"#6$(/**$&#$&-9$"&#"$9+4-&*,-"$E'FG-08#B$9&4@
*,-%&#B4C$ <L/*$ /#("'"$ #/-"0&"B"#("$ R"&*5&"06$ /2B"*"-"#$ >.#$ M!/*4"
J/#(N6$&*4$B"%&**$e.+,"*f$M=0+**"*NAC$^#$("'$).580G'0&4"'/48'$B&04$(/**"02"
O1'$ (&"$ 2"*4"#$ S-"'0.,H@D.09"*@E'FG-08#B"#$ :$ *&"$ /00"$ "#4-/04"#$ H0/'"
9+4-&*,-"$ W"*.#/#F"#C!!$ L&"$ 5.*49.("'#"$ U"*4"$ %G'"$ (/*$ "P/H4"$ U"@
B"#4"&06$(/*$-"&**46$(&"$9+4-&*,-"$E'FG-08#B$*"02*4$/0*$"&#$B"%Q-#0&,-"*
E'"&B#&*$F8$5'G*"#4&"'"#C
S.$"'H"##4$9/#$"#4%"("'$/#6$(/**$8#4"'$("96$%/*$*&,-$*"02*4$/0*$"&#"
*4'"#B$ '"/0&*4&*,-"$ E'FG-08#B$ /8*B&246$ (&"$ a.#48'"#$ "&#"*$ 9+4-&*,-"#
U"'1*4"*$0&"B"#$<&9$F"&4B"#Q**&*,-"#$a&#.$&*4$("'$"P"950/'&*,-"$;/00$Y4.9
EB.+/#*$MT-"$S%""4$D"'"/O4"'N$9&4$*"&#"#$W"O"'"#F"#$/8O$("#$;0Q4"#*5&"0@
"'9+4-.*$("*$W/44"#OG#B"'*$>.#$D/9"0#A6$.("'$9/#$0&"*4$("#$3+4-.*$*"02*4
/0*$ "&#"$ '"/0"$ U"*,-&,-4"C$ L&"*"$ 5.*49.("'#"$ ?.'B"-"#*%"&*"$ &*4$ /2"'
*"-'$'&*H/#4$:$)"4"'$S-/OO"'*$S41,H$MEh88*N<*5G4"'$>"'O&094$9&4$W&,-/'(
R8'4.#A$*4"004$>&"00"&,-4$(/*$4'"OO"#(*4"$R"&*5&"0$O1'$(&"$;/0*,--"&4$(/'6$(&"
%&'$F8$("#8#F&"'"#$>"'*8,-"#C
L"'$E'FG-0"'$("*$L'/9/*6$"&#$G04"'"'$)*+,-&/4"'$&9$W8-"*4/#($("'$*&,-
O1'$/04"$B'&",-&*,-"$3+4-"#$&#4"'"**&"'46$2"H.994$"&#"#$I8#B"#$3/##$&#
R"-/#(08#B6$("'$>"'*8,-46$(/*$)/44$*"&#"'$0&2&(&#Q*"#$S&48/4&.#$/8OF80Q@
*"#6$&#("9$"'$&#$"&#"9$>"'F%"&O"04"#$M5/**/B"$u$0f/,4"N$>&"'$5'"&*B"H'Q#@
4"#$W"##5O"'("#6$O1'$(&"$"'$&#$*"&#"9$e.2$F8$*.'B"#$-/46$(&"$Y8B"#$9&4
"&#"'$S&,-"0$/8**4&,-4C$L"'$B'.\"$3.9"#4$("'$E&#*&,-4$8#($!/-'-"&4$"'@
"&B#"4$*&,-6$/0*$("9$)*+,-&/4"'$2"%8**4$%&'(6$(/**6$%G-'"#($"'$("'$H"&9@
O'"&"#$&#4"00"H48"00"#$R"%8#("'8#B$>.#$/04"#$B'&",-&*,-"#$3+4-"#$O'"&"#
J/8O$0G**46$>.'$*"&#"#$Y8B"#$"&#"$)"'*.#$&*46$("'"#$B"B"#%G'4&B"$J"2"#*@
"'O/-'8#B$(&"$F%&#B"#("#$B"-"&0&B4"#$W&48/0"$/8OO1-'46$(&"$("#$S4.OO$F8
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% (("

B'.\"#$3+4-"#$2&0("#$:$%G-'"#($"'$>.#$/04"#$3+4-"#$O/*F&#&"'4$%/'6$%/'
"'$20&#($O1'$(&"$!&'H0&,-H"&4$"&#"'$)"'*.#6$("'"#$J"2"#$(&'"H4$(/*$B"-"&@
0&B4"$9+4-&*,-"$E'"&B#&*$&%+c
!/'89$&*4$(&"*"$>.'B"20&,-$/84-"#4&*,-"$E&#*&,-4$O/0*,-d$^*4$"*$*.6$%"&0
*&"$ "&#"$Y'4$ '"4'./H4&>"'$ 5"'*5"H4&>&*,-"'$ ^008*&.#$ 2"&#-/04"4d$Y8*$ ("9
U'8#(6$%"&0$#&"$(&"$>.00"$E'O/-'8#B$("*$3+4-.*$&#$("'$U"B"#%/'4$B"B"@
2"#$&*4$:$("'$3+4-.*6$"&#"$9+4-&*,-"$S4'8H48'6$F"&B4$*&,-$&99"'$5"'$L"O&@
#&4&.#$/0*$E'&##"'8#B6$/0*$(&"$'"4'./H4&>"$W"H.#*4'8H4&.#$>.#$"4%/*6$(/*6
/0*$"*$M%&'H0&,-$*4/44B"O8#("#$-/4N6$#8'$"&#$B"%Q-#0&,-"*6$>80BG'"*$S5&"0
("'$J"&("#*,-/O4"#$%/'d
L&"$4/4*G,-0&,-"#$U'1#("$O1'$(&"$;/0*,--"&4$>.#$Eh88*$0&"B"#$/#("'*@
%.C$Eh88*$&*4$"&#"$?/'&/#4"$("*$/04"#$T-"9/*6$%&"$%&'$&#$8#*"'"9$M4'.H@
H"#"#N6$"#4O'"9("4"#6$M"#4F/82"'4"#N$B"B"#%G'4&B"#$J"2"#$(&"$>.00"$3/@
B&"$("'$9+4-&*,-"#$E'O/-'8#B$("*$J"2"#*$>"'0.'"#$-/2"#C$E&#"'$("'$O8#@
(/9"#4/0"#$U'8#(F1B"$("*$B/#F"#$H1#*40"'&*,-"#$3.("'#&*98*$&*4$"*$/2"'6
B"'/("$&9$)'.F"**$("'$3.("'#&*&"'8#B6$&#$*"&#"'$U"%/046$(&"$W1,HH"-'
("'$2/'2/'&*,-"#6$>.'@F&>&0&*/4.'&*,-"#$9+4-&*,-"#$38*4"'$F8$"'H"##"#C
^#$*"&#"'$W"/H4&.#$/8O$(&"$Y8OO1-'8#B$>.#$MT-"$W&4"$ZO$S5'&#BN$ijpi$&#
J.#(.#$ 5'"&*4$TC$ SC$ E0&.4$ S4'/%&#*H+*$ 38*&H$ O1'$ (&"$Y'46$ %&"$ *&"$ M("#
W-+4-98*$ ("'$ S4"55"#$ &#$ ("#$ S,-'"&$ ("'$ 3.4.'-85"6$ (/*$ W/44"'#$ ("'
3/*,-&#"#6$(/*$m8&"4*,-"#$("'$WG("'6$(/*$S,-0/B"#$>.#$E&*"#$8#($S4/-06
(/*$R'100"#$("'$=#4"'B'8#(2/-#$8#($/#("'"$2/'2/'&*,-"$S,-'"&"$("*$9.@
("'#"#$J"2"#*N$>"'%/#("04"C
a8'F6$(&"$8#4"'*,-%"00&B"$^(""$-&"'$&*4$#&,-4$(&"$("'$a.00&*&.#$.("'$("*
S5/04"*$F%&*,-"#$/04"#$W&48/0"#$8#($3+4-"#$8#($("9$"#4F/82"'4"#$9.@
("'#"#$?"'-/04"#6$*.#("'#$(&"$("'$a.#4&#8&4G4$>.#$5'&9&4&>"'$R/'2/'"&$-&#
F8$3.("'#&4G4C$L&"$^(""$&*4K$L&"$&#(8*4'&"00"$3.("'#&*&"'8#B6$(&"$,-/.4&@
*,-"#$R"%"B8#B"#$("'$3/**"#$&#$9.("'#"#$U'.\*4G(4"#$"4$,"4"'/6$/00"
(&"*"$E&B"#*,-/O4"#$*&B#/0&*&"'"#$"&#"$L"*&#4"B'/4&.#$("*$MF&>&0&*&"'4"#N
/'&*4.H'/4&*,-"#$.("'$O'1-@2.8'B".&*"#$=#&>"'*89*$("'$>"'O"&#"'4"#$S&4@
4"#C$L&"$Y8O0Q*8#B$4'/(&4&.#"00"'$R"F&"-8#B"#$H1#(&B4$&-'$"&B"#"*$B"%/04@
*/9"*$9+4-.@5."4&*,-"*$).4"#4&/0$/#C$!&"$%.-0$2"H/##4$&*46$%/'$(&"$;"&"'
("'$W1,HH"-'$>.#$2/'2/'&*,-"'$9+4-.@5."4&*,-"'$U"%/04$&9$)'.F"**$("'
3.("'#&*&"'8#B$"&#"*$("'$D/8549.4&>"$("*$H.#*"'>/4&>"#$3.("'#&*98*
&#$("'$a8#*4C$L&"$E#4*4"-8#B$>.#$,-/.4&*,-"#$9.("'#"#$R/008#B*F"#4'"#
%8'("$/0*$=#4"'B'/28#B$("'$D"B"9.#&"$("*$O'1-21'B"'0&,-"#6$0&2"'/0@'/@
4&.#/0"#$^#(&>&(8/0&*98*$%/-'B"#.99"#6$F8B8#*4"#$("*$"'#"8"'4"#$2/'@
2/'&*,-"#$'"0&B&Q*"#$b*4-"4&F&*98*$("*$*.F&/0"#$J"2"#*$:$#"8"$B"-"&0&B4"
((# 8$"()9':-;%<

3/**"#'&48/0"$2"*4G4&B"#$*&,-$*"02*4$8#($O1-'"#$#"8"$;.'9"#$>.#$2/'2/@
'&*,-"#$Z5O"'#$"&#C
L&"$9/'P&*4&*,-"$S4/#(/'(-/048#B$2"F1B0&,-$(&"*"*$)'.F"**"*$&*4$F%"&@
O/,-K$E&#"'*"&4*$&*4$"*$"&#O/,-$O1'$"&#"#$3/'P&*4"#6$(&"*"$MR/'2/'&*&"'8#BN
/0*$("'$B"%/04*/9"#$H/5&4/0&*4&*,-"#$Y8O0Q*8#B$/00"'$4'/(&4&.#"00"#$MF&>&@
0&*&"'4"#N$.'B/#&*,-"#$R"F&"-8#B"#$&#-G'"#4$F8$&#4"'5'"4&"'"#6$/0*$(&"$^(""
/0*.6$(/**$(8',-$(&"$("*&#4"B'/4&>"6$*.F&/0$F"'*4Q'"'&*,-"$!&'H8#B$("*$a/@
5&4/0&*98*$(&"$#.4%"#(&B"$;.'9$("*$Y8*('8,H*$("'$H/5&4/0&*4&*,-"#$E#4@
%&,H08#B$(&"$&(".0.B&*,-"$MW"B'"**&.#N$F8$("#$2/'2/'&*,-"#$'&48/0&*&"'4"#
;.'9"#$ ("*$ *.F&/0"#$ J"2"#*$ &*4C$Y#("'*"&4*$ 2"4.#"#$ T-".'"4&H"'$ %&"
Y(.'#.6$(/**$(&"*"'$W"B'"**$F8$2/'2/'&*,-"#$3+4-"#$S,-%&#("0$&*4K$!.@
9&4$%&'$"*$F8$48#$-/2"#$&*4$#&,-4$0G#B"'$(&"$/84-"#4&*,-"6$.'B/#&*,-"6$9+@
4-&*,-"$J"2"#*O.'96$*.#("'#$"&#$9/#&580&"'4"'$3+4-.*6$"&#$H1#*40&,-"'
S,-%&#("06$("'$*"&#$B"#/8"*$U"B"#4"&0$9/*H&"'46$#G90&,-$(&"$B0.2/0"$W"@
O0"P&>@!"'(8#B$8#($W/4&.#/0&*&"'8#B$("*$9.("'#"#$J"2"#*C$]%"&O"00.*
20"&24$(/*$;/H4896$(/**$W"O0"P&.#$8#($W/4&.#/0&*&"'8#B6$(&"$,-/'/H4"'&@
*4&*,-$O1'$3.("'#&*&"'8#B$*&#(6$&-'"$"&B"#"$#"8"$Y'4$("'$=#(8',-*&,-4&B@
H"&4$ 9&4$ *&,-$ 2'&#B"#6$ (&"$ "&#$ h8/*&$ 9+4-&*,-"*6$ &(".0.B&*,-"*$ E'0"2"#
2">.'F8B4C$ L"'$ )8#H4$ (&"*"'$ MW"@3+4-.0.B&*&"'8#BN$ &*4$ /0*.$ #&,-4$ "&#@
O/,-$("'6$(/**$(/*$"P4"'#"$9+4-&*,-"$U"'1*4$"&#$M!"B$("'$a.#4'.00"6$("'
Z'(#8#B$&*46$89$("9$*4/'H"#$)/#.'/9/$("'$]%",H0.*&BH"&4$8#($Y#/'@
,-&"6$(/*$(&"$B"B"#%G'4&B"$U"*,-&,-4"$&*46$"&#"$U"*4/04$8#($R"("848#B$F8
B"2"#N6$%&"$E0&.4$*"02*4$"*$2"F1B0&,-$e.+,"*$M=0+**"*N$/8*('1,H46$&#$("'
(/*$E'0"2#&*$"&#"*$"&#F&B"#$T/B"*$>.#$J".5.0($R0..9$(8',-$("#$R"F8B
/8O$D.9"'*$Z(+**"8*$*4'8H48'&"'4$%&'(C
L"'$ )8#H4$ &*4$ "&#$ %"*"#40&,-$ '/(&H/0"'"'K$ L&"$ ,-/.4&*,-"$ U"%/04$ ("*
9.("'#"#$&#(8*4'&"00"#$J"2"#*6$(&"$4'/(&4&.#"00"$MF&>&0&*&"'4"N$S4'8H48'"#
/8O0Q*46$%&'($"'0"24$/0*$(&"$!&"("'H"-'$("'$5'&9.'(&/0"#$9+4-.@5."4-&*,-"#
2/'2/'&*,-"#$U"%/046$(&"$(8',-$(/*$a.'*"44$F&>&0"'$S&44"#$M8#4"'('1,H4N
%&'(C$=#($>&"00"&,-4$&*4$"*$(/*6$%/*$&#$0"4F4"'$Y#/0+*"$MC;%+6;0"3#&%6/%N
&*4K$#&,-4$*.$*"-'$"4%/*6$(/*$("'$3.("'#"$O.0B46$*.#("'#$"&#O/,-$("'$&-'
&#-G'"#4"$3+4-.*C
D"&("BB"'$>"'.'4"4"$("#$B'&",-&*,-"#$L8',-2'8,-6$(&"$U'1#(8#B*B"*4"
("'$%"*40&,-"#$a8048'$&#$("'$_2"'%&#(8#B$("*$>.'@5-&0.*.5-&*,-"#$9+@
4-&*,-"#$M/*&/4&*,-"#N$=#&>"'*89*K$L"'$B'Q\4"$U"B"#*/4F$("*$!"*4"#*
&*4$M("'$3+4-.*$&9$/00B"9"&#"#$8#($("'$/*&/4&*,-"$&9$*5"F&"00"#N!"C
Y2"'$ (&"*"$ _2"'%&#(8#B$ &*4$ #&,-4$ "&#O/,-$ "&#$ D&#4"'@*&,-@0/**"#$ ("*
3+4-&*,-"#6$ *.#("'#$ "&#$ H.#*4/#4"'$ a/95O$ 9&4$ <&#A$ &-9K$ )-&0.*.5-&"
!"#$%&'()*'+,-./0'1'2-%'3)0&#),%*4%'"$0'56&7)0',%*'5),%*4% (($

2'/8,-4$("#$W"H8'*$/8O$("#$3+4-.*$#&,-4$#8'$%"B"#$G8\"'0&,-"'$U'1#("6
89$&-'"$H.#F"54&.#"00"$J"-'"$("#$8#B"2&0("4"#$3/**"#$F8$"'H0G'"#6$*.#@
("'#$/#$*&,-6$89$&-'$"&B"#"*$H.#F"548"00"*$U"2G8("$(.'4$F8$MO0&,H"#N6$%.
"*$(/'&#$O"-046$*"&#"#$&##"'*4"#$a"'#$F8$"''"&,-"#K$>.#$)0/4.#*$DQ-0"#@
B0"&,-#&*$F8$;'"8(*$3+4-.*$("*$='>/4"'*$8#($J/,/#*$3+4-.*$("'$J/9"0@
0"C$3+4-.*$&*4$*.9&4$(/*$W"/0"$("*$J.B.*K$("'$O'"9("$E&#('&#B0&#B6$8#9QB@
0&,-$&-#$0.*$F8$%"'("#6$8#9QB0&,-$>Q00&B$&##"'-/02$>.#$&-9$F8$20"&2"#C
L/'&#$2"*4"-4$(&"$J"-'"$>.#$D.'H-"&9"'*$8#($Y(.'#.*$L&/0"H4&H$("'
Y8OH0G'8#BK$Y8OH0G'8#B$M>"'B&O4"4"4N$&99"'$*,-.#$(&"$#/&>"$9+4-&*,-"
=#9&44"02/'H"&46$Y8OH0G'8#B$*"02*4$&*4$3+4-.*6$(/*$-"&**4$&-'"$"&B"#"$B'1#@
("#("$U"*4"$%&"("'-.04$(&"$9+4-&*,-"$Z5"'/4&.#C$=#($%/*$&*4$).*49.@
("'#"6$ %"##$ #&,-4$ (&"$ 804&9/4&>"$?"'#&,-48#B$ ("'$Y8OH0G'8#B$ &#$ &-'"9
B'Q\4"#$T'&895-K$!"##$(&"$L&/0"H4&H$("'$Y8OH0G'8#B$&-'"#$DQ-"58#H4
"''"&,-46$ B"#"'&"'4$ (&"$ (+#/9&*,-"6$ %8'F"00.*"6$ 5.*4&#(8*4'&"00"$ U"*"00@
*,-/O4$8#9&44"02/'$&-'"#$"&B"#"#$3+4-.*C

7/%$0"6$E#=@&%)*"#$F;#$?.3&#$G2"3@")*#"3

7#6"39/#="#

Q !;<#4')5'(7'#<(')#"/-H)2(;<#/,:#RO/02'-S7#$(22T&#+'"#*')H;<-(?-'"#U'5#L?'#@2/77(C')
41"#V(1)?(1#+'#.LUW!XXLUL#,"+#O')-</#41"#9YZOYU9#[\17-1"]#9/4(+#=J#V1+("'
N,*2(7<')#Q^__`
a G?2J#@/M(-'2#b!bAbb!!#41"#c/;6,'7#XLZLU&#+/7#.'0("/)&#\/"+#G!!!]#X'#W)/"7:')-&
N/)(7]#Y+(-(1"7#+,#.',(2#Q^deJ
f G?2J#c/6,'7#XLZLU&##W<'#I1,)#I,"+/0'"-/2#Z1";'M-7#1:#N7g;<1AL"/2g7(7J#O/)01"+7A
51)-<]#N'"?,("#Q^_^&#MJ#QQhPQQ^J
i !"# +')7'2*'"# =(;<-,"?&# ')7;<'("-#L"-(?1"'# ("# 7,*2(0')# .;<K"<'(-&# 5F<)'"+# 5()# ("
j+(M,7# /,:# @121"17# +'"# ,2-(0/-(4'"# D(22'"# >,)# .'2*7-4')"(;<-,"?# :("+'"]# ')# 4')A
+/00-#+('#?/">'#D'2-&#7(;<#7'2*7-#'("?'7;<2177'"&#,"+#4')7;<5("+'-#+/""#("#+')#E"A
-')5'2-J
e k*)(?'"7&#*'?'?"'"#5()#"(;<-#'("')#F<"2(;<'"#$/-)(l#P#'("'#7-)/<2'"+#7;<K"'#W1;<-')
/27#U/;<:/<)("#'("'7#<F772(;<'"#\,;C2(?'"#P#'*'"71#("#G')+(7#=(?12'--1m
h c'/"#F<"'2-#:12?2(;<#+')#G/-'):(?,)#/,7#N/,2#W<')1,ln#R$176,(-1#Z1/7-TJ
_ .('<'#N<(2#N8D=!Y&#I)'";<#Z("'0/#("#-<'#Q^do7&#8l:1)+]#Z2/)'"+1"#N)'77#Q^__&
MJ#eoPhQJ
d O'(")(;<#41"#@XY!.W]#9('#$/)6,(7'#41"#8J#!"]#9('#V)13'"#@2/77(C')J#X(-')/-,)#+')
D'2-# ("# \(2+')"# W'l-'"# ,"+# 9/-'"J# O'(")(;<# 41"# @2'(7-J# D')C'J# @('7'2&# ./2>*,)?J
Q^dQ&#.J#eod
^ Y*'"+/&#.J#eodJ
((% 8$"()9':-;%<

Qo Y)"7-#\X8ZO&#k*')#=';<-72'(+'"7;</:-#(""')</2*#+'7#M17(-(4'"#V'7'->'7&#I)/"C:,)-]
.,<)C/0M# Q^_a&# .J# ^hJ# !;<# 4')-)/,'# <(')# /,:# 9/4(+# =LW$8@8.# <')41))/?'"+'
X(>'">(/-7/)*'(-#RL?'";g&#I(;-(1"#/"+#L;-]#N/)/"1(/n7#!"4(7(*2'#X'?/;gT&#BH)(;<#Q^^^J
QQ G?2J# $(;</'2# LW@!U.8U&# W<'# .';)'-# $/))(/?'# 8:# .<')21;C# O120'7# /"+# 8-<')
Y;;'"-)(;#='/+("?7&#L""#L)*1)]#W<'#E"(4')7(-g#1:#$(;<(?/"#N)'77#Q^^hJ
Qa $/)-("# OY!9YVVY=&# .;<'22("?n7# W)'/-(7'# 1"# O,0/"# I)''+10&#L-<'"7]# 8<(1
E"(4')7(-g#N)'77#Q^de&#MJ#QihJ

H&+"3.+/3

LW@!U.8U&# $(;</'2]#W<'# .';)'-# $/))(/?'# 8:# .<')21;C# O120'7# /"+# 8-<')# Y;;'"-)(;
='/+("?7J#L""#L)*1)]#W<'#E"(4')7(-g#1:#$(;<(?/"#N)'77#Q^^h
\X8ZO&#Y)"7-]#k*')#=';<-72'(+'"7;</:-#(""')</2*#+'7#M17(-(4'"#V'7'->'7J#I)/"C:,)-#/J$J]
.,<)C/0M#Q^_a
OY!9YVVY=&#$/)-("]#.;<'22("?n7#W)'/-(7'#1"#O,0/"#I)''+10J##L-<'"7]#8<(1#E"(4')7(-g
N)'77#Q^de
@XY!.W&#O'(")(;<#41"]#9('#$/)6,(7'#41"#8J#!"]#9('#V)13'"#@2/77(C')J#X(-')/-,)#+')#D'2-
("#\(2+')"#W'l-'"#,"+#9/-'"J#O'(")(;<#41"#@2'(7-J#D')C'J#@('7'2&#./2>*,)?#Q^dQ
XLZLU&#c/;6,'7]#W<'#I1,)#I,"+/0'"-/2#Z1";'M-7#1:#N7g;<1AL"/2g7(7J#O/)01"+751)-<]
N'"?,("#Q^_^
#P#9/7#.'0("/)&#\/"+#G!!!]#X'#W)/"7:')-&#N/)(7]#Y+(-(1"7#+,#.',(2#Q^de
N8D=!Y&#N<(2]#I)'";<#Z("'0/#("#-<'#Q^do7J#8l:1)+]#Z2/)'"+1"#N)'77#Q^__
=LW$8@8.&#9/4(+]#L?'";g&#I(;-(1"#/"+#L;-]#N/)/"1(/n7#!"4(7(*2'#X'?/;gJ#BH)(;<#Q^^^
.LUW!XXLUL&#V(1)?(1#+'#p#9YZOYU9&#O')-</#41"]#O/02'-S7#$(22J#\17-1"]#9/4(+#=J
V1+("'#N,*2(7<')#Q^__

703"%%"$0"%$7/+;3%

N)1:J#9)J#.2/41q#B(>'C
W),*/)q'4/#dQ
.X8PQooo#Xq,*2q/"/

También podría gustarte