@<
#$1&/(-)*&+$1&*)'$4+$M0()+0$07$3'4+7+4'Z2,/3
#8&($80'-2,/Y*$,V713(Q(Z2,R$4+$08&($0$(VNN&3,NW*$*)(-2,$
$J-,DM( 0-M9W1;-H( HIAJB;3-HB?V2,Q( D2;-2A(
-/A2(9-91HW2,( .;.,Z91H1MP;( RAHIB;V2,Q( 9W/.8
9DHZ9.2-(,A;;(J.?W2,R.2Q(LD?3(HDHAJ(.(0.8
;PH1?D9(;199.9UW,(J.?W2,RP;(.I(-29AM2A9A26(
$J-,DM(,-9AHIV2,(0.;.J-9(.I(-29AM2A9MA(Y(;A8
?3A2(.I(A?3(,BCQ(A?3(0-/APQ(A?3(LDII1HIP;1H(
0.?3(A?3(R;D?RAUA?3IBH(YQ(J-2/-?( .I9( JW8
9.9UW,( JA?( J.?W2,RP;Q( .J-9( JA?( -H( .,.8
MW2,(JW9.92-6(%;9.;1R.2(.I9Q(.J-,DM(0.;.J-(
H-,AMV;9Q(0.;.J-MA(RVHI,B,(0.?3W2,Q(0.;.J-8
2A,(@MV;V2,Q(0.;.J-9(BM/A,AH2A,(9.;1;W2,Q(
0.?3-H(.MMP;(CDHI9D;W2,Q(LD?3(RD;/D?D,(0.8
?3W2,Q(BH(UP;(BMAIIV,(J.?W2,.96
yH(Y(.(;A?9@RRHI@M(Y(JB;3A2(L.;;?.9W2,(
.MMP;Q(.J-,DM(2AJ(H-,AMV;9(0.;.J-Q(.J-,DM(CDbHB,W;(BMAIIV,(J.?W2,.9(.(R:MV2,RA2Q(.J-,DM(
bH.;P/9W2,(0.;.,-RA2Q(RA9A?A,(0.?3W2,Q(A?3AH(;A99(.(/D;?DI.9W2,Q(0.?3(;A,BH9V,(.(RWHI9Q(
A;MDJ;D99(.(JDHP?BCQ(RAJDI/W;9(.I(@HHIAH(NB23,BCV2,Q(BH(2AJ(0A99A,(NA;(.RR.(.(,@IBC-H8
,D;1R.Q(.LD01(JA22-(HIAMA99V2,(0D;2.6
i4/%4+
*.UD2(J-(;ALA9(.(NA29(D;0.HD99(0-HA;,A/BH(D,.
m-29LD?3(.(;A?9@RRA2(.(HIBCA9(BH(UP9(DHI9UW,(JA?(J.?W2,MP;Q(J1HD,(JA?DHI91H.-9(D;8
0.H0.(BH(2BI0A(.I(.(,BC(.;.,W;L.9(,-(RA22V2,Q(LD?3(J-2/A2,-(J-2/-?(NA;L:9;A2V;(RD;/D?(
Y(RA22V2,A9(,-0B0AQ(.,-,2A,(2AJ(J-2/-?(bHWC.(@M@J(.I(B;A9V2,6(jI(.(,BC(Y(L.(C-b-9(-H(RA;A?8
D2/D;W2,(Y(23-;0120.;P.2(L.J-H6($MM.(JB?-H(UP(;ALA9Q(LD?3(MDHHI(BMIBH9Q(HIDMD2?1H9Q(-M-?3HB8
?A9(.;.,Z9HD2(,-(RA22V2,Q(A;HIDJDMZ9HD2Q(BH(MDHHI.RR(HIZ2RA2(9V29AHHA(NA;(.(0-;1?W2,.9Q(J-29(
.J-;3A26($(9BJ.(,W9.9P-(NA;2:99A,2B;(BH(?3AMA,A,2B;(A?3.M129(JA?N-?3A;-,(AI9(.(MA.,b-P96
i4/%4+3,
:;( yHI;A;9V2,8A(J1M(J.?W2,D2(0.;.J-9(AIA,R:;(.I(BMIBHA,R:;
<;( m-9(9ALA9V2,(.IBM9Q(LD?3(J-2B;(,A0AHARRHIAM(BMAIIV,(J.?W2,.9(Z?3
#$1&/(-)*&+$42Z2,3($4/W$0'/3++7&Y
%;9.;1R.2(ND29DH(;A22AQ(LD?3(J-A;:99(JA?HIP;.;W2,Q(?D2/D;UW,(19(HI.0.-2,(L.91H196().(0.8
;.J-9(,@I@;2-(HIAMA92B2,Q(/A(R129P.2Q(HBM9:A2(ND?.;J.IW2,Q(.(RAHIB;?A9:C.M92AMV2,(.W9D8
J.9-,WH.2(0B/A,AI2-(,AI/Q(0.?3(A;;A291J./1HR.(;A2/V;Q(BH(.(;A?M-9,1RR(AHA9RA2(;AHI(23-8
9D99(.(JD2/.2/P2,(A;ND?./1H1M.6
]3.,DM-Q(LD?3(.I(-29AM2A9A2(;B23A?AHA2(,AJB23ARRA2Q(HBM9:A2(ND?.;J.I2.,(.(JA?HIP8
;.;P,Q(J-29(.J-,DM(2AJ(0-M9W1;-HQ(L.2AJ(0.;P/-(,@I@HHB?RA2(,A;;(,-JD2/.2-W,(.(0B;AJB8
23V,A96(jIA,A9(.(JA?HIP;.;1HD,.9(.(0.;PH1?R.2(HD,HIDM(2AJ(L.;;?.9212,(0B?-?6().(JB?-H(
A;L.2?ID99.,Q(.(L.;;?.9P,(.(;AHKU9P(.Mb,-NAUAIBH9:;(,AI/0A(.(L.2?DH(A;W9.HZ91H-?(9AMUA/:A2(
x( mA223-MA(L.HD2;Z9(.I(AJRAMA,(-29AM2A9AH(.Mb.(
( .I(-?.I-M.(mA223-MA(L.HD2;Z9(M1(.(J-B2,(
#7$3e1&*)'$4+$07$H2*&23$,H88-2&,)]&Y
@!
NAUAI2B,(,-(2AJ9A9HIBHV,A9Q(.J-2A,(1;9.;1R.2(
0.2( 0-HHI.9.M9P( AMAUA6( $I( -29AM2A9AH( LDII1HIP8
;1HD,21;(.I(-;3A2(MA.,b-P,M.(2-2bH(;ALA9:HB?Q(BH(
.(LDII1HIP;P(2AJ(,.CU.(JA?(AIA,A9(.(2.?3D2(
ND29DH(0-HHI.UA;IBHA,A96
#D01RR( MD29U.( .I( -29AM2A9AH( .?MAHHI-P( 1;8
/DI.9.-2.,( .( LA;3IA9B9Q( LD?3( .I( -29AM2A9( 2AJ(
NA;AU96().(0.;PH(B2V2,A9(BM-(.?MAHHI-PQ(.(L.91H.(
-/:0A;(bH@,,A2Q( CWHI912( .IBM9Q( JAM9(.I(AJ;B,(
A;L.;0123W;Q(BH(.(MB?ARRA2(9@M9B29(AHAJB23A,(
HK;3W,.9(0AHI9-,6(j?3(HBM9:(-29AM2A9AH(JA?HIP8
;.;1H9( KUM.D;0.H0.Q( A?3( R129P( ,BCA9Q( A?3( JA?8
.;1IP(0-/AP9(KUM.(JA?2BI0A(.(MDHHI(BMIBH(BH(.(
,AHAM[HB?(AMAUA(.;-?(bH@,,A26
).(bH.,(JA??D2/D;.9;.2H1?RP;(0-HA;,A/V2,(HBM9:A2Q(BH(R129W2,(JA?(AIIA;(0.;.,-9Q(.I(
-H(U1ML.9(JAHHIAJA2:(,@0A9,AIJB23A,,A;6().(HI12/B,DH.2(9AHHIV,Q(.,,DM(BM/AJAH(;ALA9(
A;?D2/D;,D/2-(M.U9.Q(LD?3(J-9(BMAI2B2,Q(L.(J1H(9A22B(0A;V2,(W?3.2AI96
i4/%4+3,
:;( #.C.HI9.;9W,8A(J1MQ(LD?3(-29AM2A9AH(LDII1HIP;1HD,R.2(HD,,.;(/WM01RR.2(ND?.;J.I2.,(
.I(AJRAMA,Q(J-29(A?3J1H(JA;;A99(1;;0.(BH(K?3(RAHIB;?A90A(m-(;ALA9(A22A,(.I(D,.
<;( j;:NDM/W;98A(J1MQ(LD?3(R129PQ(HBM9:(JA?HIP;.;1HD,Q(,BCA,Q(0-/AP,Q(AHA9;A?(I.,;.91H(bB;8
CD29U101(01;9W2,(.I(-29AM2A9A2()D?3.2(BM/AJAH(,AIA;2-(.I(-;3A2(AHA9A,A9("-9:;(,BMLA8
9V2,(HA?Z9HB?A9
!;( #W/UW,8A( UA;AI2-( .( uARAH( .;,.;J.I1H( VIAJA;9A9:UB2A,Q( L.( A?3( 9.M9.;DJ( R129PQ( HBM9:Q(
JA?.;1IP()D?3.2(&ID,9W2,8A(B;2-(AIIA;(.(;ALA9:HB??A;
=;( #W/W2,8A(D;3.2(AHA9M:;Q(.J-,DM(9M.?-,WH(,@0A9,AIJB223A;(U1M9Q(LD?3(0.;.,-9(HI1J1M.(A;8
0-HA;LA9A9;A2V;(HD,(-29AM2A9AH(A;W9.HZ91H(0.?3(A;0-HA;LA9A9;A2V;(,DJD;3(.?MAHHI-P(BM9
j&/(-)*&+$U-(0*80,
$I(AJRAMA,(2.?3(9@RRHB?A(1;9.;1R.2(HIAMA9(,.C2-(
0.;.J-96( &D,NB;A(/D;D?2.,(9W/W2,(@MV;2-Q(.J-9(.(
,AMAH,A/A;AJ( .;.CDH.2( ,-( -H( L.HI21;6( ]D2/D;UW,(
bH.,(19Q(L123(D;3.2(91M?3W2,(0.2Q(.JA;3(;B23A?B8
RA2(HAJJ-MA(HAJ(,A;;Q(H:9Q(.I(-/:(;A?2.?3DRR(MB8
HIBRA2(bH.,(K9R.2(0.2Q(JB?HAJ(HIAMA92B2,(JA?8
01;2-(9:;A6(j;-HJAMBH9(-H(HIZ0AHA2(,.CW2,Q(UP(BMIBH9(
,A;9(RA22V2,Q(L.(JA?/-bHBM2A,(RA22V2,A9(0.?3(.(
JW2,12,.96
$J-,DM(A?38A?3(,@IIB9A99(ZM1HW2,.9Q(,BCV2,A9Q(0-/AP2,.9(-HJAM-,(A;(.I(./D99(-29AM2A9AH(
.;,.;J.I1HR.2Q(W?3.2Z?3(9W/W2,(2A,-(@MV;2-6($ID2R.2(2.?3D2(ND29DH(JA?BM9A2V2,Q(LD?3(
.I(A;-HJAMBH(,-NAUAIBHA(.(;A?9@RRHI@M(A?3(A?3HIAM[(A?BM,.99-291HH.;Q(.(,-UA;I:(JA?BM-29B8
HB0A;(;ALA9HB?AHQ(.I.I(.I(A;-HJAMBH9(./P9P;(2AJ(-?B23A;(,V;@2@HARR(AM:NAHIZ9BH96(m-2/AI(
2AJ(UA;A29-(.I9Q(LD?3(.(0-M9W1;-H(A;-HJAMBHA,(BM9B,9A;A2A,(;A2(2B2A,(Y(J-2/@HHIA(JA?(,A;;(
9.2W;2W2,(AIA,A9(-H(.(0.;PH(BM9B,V,2A,(JA?NA;A;:A2(HIAJ;B;2-6
x( #W/W2,8A(@2J.?W2,LDI(L[A,(J.M./2-(
( .I(-29AM2A9AH(,DJJW2-,1b-PR.2
@=
i4/%4+3,
:;( )123.2(NAUAI-,(,-(9A9HIBHV,A9(-HJAM:HA-2,(,@IV;(A?38A?3(JA?DHI91HW2,,.;(,.CbHD;.9D8
H.2(.I(AJ;Z9A99(A?3HIAM[(JP/D2Q(BH(L123.2(9AHI-,(JA?(W?3.2AI9(?D2/D;.9.-,.9(LDII18
HIP;1H,B29(JA?ND?.;J.I0.()123.2(JD2/U1,(A;(BMIBHA-,A9(B;:HIPR.2(&I1JW2,M.(JA8
;3-,(A;-HJAMBH(BM(9@RRA9(m-BM9
+19L.99W,(9AL19Q(LD?3(HIAMA9V2,(UW9.;J.,.9Q(A;-HJAMBHA,A9(,.C2-Q(JB?(L.(bHA,B;3(UA;A29:8
HB?[A,A9(-H6($;-?L.2AJ(AIIA;(-H(@HHIANV??BHRA2(1;;Q(LD?3(0.22.,Q(.,-,2B;(.(9.M9.;J.,(,@IIB8
9B9A;AQ(CDHI9D;1H.(S.I(.2?D;(:<!)@(.I.I(A;,V;/(HIPRP;T(J1M8J1M(MW9-221(0.?3(MDHHI(HID,1HH1Q(
,B23HIAMMB(01;-,6
#8&($238$P42J,4O37(Z2,$*3R$07$238$&+$(V/(42($83'\
r1M9W2,R.28,A;9V2,RA2(KUM.(JA?(KUM.(;19UW,Q(LD?3(0.;.,-(BCC(ND9P9(,BHIZ96($J-P9.(?3.,DM8
;.9-;.?(J-2/A2,-2B;(BH(J-2/A2(C-;;.2.9R.2(D99(0.2(A?3(NB23,BCAI:?BC,B29(-H(L.HI21;L.9P(
9A;AND2Q(L-LA9A9;A2(JA223-HB?[(ND9P(,BHIV;6(m.(J1M(2ALBI(A;,BCIA;2-Q(LD?3(2B?38@9(2AJ8
IA/B,,A;(AIA;:99(bH.,(.,,DM(,BHIV;9(0.;.,-M:;(ND9PQ(L.(NB23,BCBHILAI(JA29(Y(.I.I(HD,.,MP;(
HDL.HAJ6(mB?(.(HIV;A-2,(?3AMA,,DM1RP;(-H(bH.,(HIA,MB23A,Q(/DRDID,(MAU9A99A(C.CZM,BCA,(
9.2KH,D/2.,6
i4/%4+3,R$P3*0%0(H,
:;( )D;( BH( J-,DM( HI.R./( J1HD,.9( ;A8
NB23,BCAI2V2,( &I.R./8A( JA?DHI8
9.2W2,( J1HD,MP;( ,BHIV;9( ND9P,.9(
S&A?Z9(.(L.9D/-,DH(,@2306T
<;( )123(ND9P(0.2(.(;A?2BCHIAM[RR(,BC8
JA?DHI9P( D;/.;D2( mA223-( ,AMV;(
D/.(J1HD/CAMbA2,B29
!;( )123( J.?W2,( ,BHIZ9A99A( ,BCA9( 2B8
IV2,(JA?(A?3A9;A2(.;,.;DJ21;(9@RR8
HI@M(mA,,DM.(.I(-;3A2(,BCA,(.M123.(
.I(@HHIAH(,BCV2,L@I(,BCAH9(
=;( &D,HIDM( ;19UW,( .I9Q( LD?3( AJRAMA,(
A?38A?3( ;192-0.;P21;Q( AHAJB232B;(
JA?1;;2.,Q(A;,BHIV;(.(,BCQ(BH(J1M(;BC2A,(-H(9D01RR6(*.UD2(0.2(-/:(.I(-;3A2(AHA9A,RA2(
JA?B;2-(.I(B;JB239(m-BM9(,BHIV;2A,(A;(AIA,(.(,BCA,
";( #W/W2,8A(D;3.2(LA;3A,M:;(.(0-;1?R.2Q(.JA;3A,LAI(bH.,(.IBM9(W9.I2.,(A;(AJRAMA,Q(LD?3(
A;,BHIZ9HB,(n.(9@,B;A9AH(,BCA9o
>;( )123(,BCA9(2BI9V2,(JA?(.I(A;:I:(L1MDJ(2.CR.2()123M.(AJ;B,HIV2,
5;( *D;2.8A(AHB;3V,(.(MB?-(,DMD,(0.?3(BCC(.(JK;9(HI1I./(LZMAH(NAH9:-2A,(.(J.-(,@MV;JB23A,(
,@I@99(LZMAHHB(01;2-W,
?;( "-(0D;9(hDRAM9(_.C.(*.UD2(;A22B2A,8A(J.(,@0A9:-
@;( 'HJAMUV,8A(.(^DM9AC.26LW(0.?3(.("AI.-6LW(uARD;/.;9("AMAHHV2,(9ZI89ZI(,BCA9(A?38A?3(
9BJ1MP;\(.(01MDHW2,MP;Q(.I(.W9PI1HMP;Q(.(HIZ2L1I.,MP;Q(.(RD;9D,MP;Q(.(/-0.9MP;s(mW9.HHW,(
RA(.(,BCA,A9(.(9.2W;PbHDCDM9W2,R.2Q(BH(JAHB;UV,(A;Q(J-BM9(AIA,A9(01;.HI9D99W,s