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471=;9*3+-=?34)70!=@?>=$5056+3&=87-7<;9470=
134=)<7=3?8<7+,46=5)7+=7+)5..7?,46=)7+=
7??<6%7<0=3?>=<;90*7+0=5)7+="?74)74*7+0!=

<7=30,+=%7440=3?>5=70*3=-*34-<6="?74)74
*7+07!=<7?=-,=(<7?=&+=)3>=174>;9?<;97=@,67!=
<+=%4474=70*3=-794=>5?;97+=0,&74=3,&=
7<413?=(7+3+87<074!=4>7+=@,67=%344=387+=3,&=
%7<474=$3??=6?7<;9-7<0<6=)3>=),4%7?>07=;9*3+-=
)7+=0<7&>074=9?7=,4)=)3>=?<;907>07=7<=
(7+3+87<074!=>=%344=><;9=?7)<6?<;9=34.3>>742=
*7>93?8=134=><;9=<117+=7+>0=34>=<;90=67
*9474=1,>>2=*744=134=3,>=7<471=),4%?74=
3,1=34=)<7=5447=0+<002=,4)=*7>93?8=134=
<117+=7<4=7<?;974=8+3,;902=,1=70*3>=-,=
>79742=*744=134=<4=)7+=3;90=)3>=<;90=3,>
>;93?070!
34=87-7<;9470=)3>2=*3>=7<4=>071=34=
@8>0,&,4674=-*<>;974=;9*3+-=,4)=7<=
(7+3+87<074=%3442=3?>=540+3>0,1&346!=<7=
30,+=%7440=70*3=-*34-<6=0,&74=(51=0<7&>074=
;9*3+-=&=-,1=+7<474=7<='!=3>=174>;9
?<;97=@,67=%344=)3(54=<4=7<471=@,6748?<;%=
4,+=70*3=-794=@8>0,&,4674=(7+3+87<074=(=
=*3>=),4%?7+=<>0=3?>=)<7>7+=1&3462=7+>;97<40=
,4>=>;9*3+-=3,;9=*744=7>=<4=<+%?<;9%7<0=
63+=4<;90=>;9*3+-=<>02=3??7>=*3>=97??7+=<>02=7+
>;97<40=,4>=*7<=3,;9=*744=7>=4<;90=*<+%?<;9=
?<;907>=7<=<>0!
1=+,;%=+7),-<7+0=><;9=
)7+=54*7+0,1&3462=7=43;9=
/3.<7+=,4)=7+&39+742=3,&=8<>=
-,=&4&=0,&74=)!=<4="<0
/'"<?)=930=7<474=540
+3>0,1&346=(54=70*3=3;90=
<;90*7+074=*!=<7+=.,4%070=
*<7)7+=)3>=@$5+130=>=
%344=8<>=-,=-*?&=<;90*7+07=
3,&479174=4!
(
)
5;9=*3>=8+<460=)<7>7+=
6+7+7=540+3>0,1&346=<4=
)7+=/+3#<>=07??74=*<+=,4>=
-,+=7+34>;93,?<;9,46=7<4=
50<(=(5+2=)7>>74=540+3>0
,1&346=70*3=)71=740>.+<;902=
*3>=)3>=@$5+130=3,&-,
479174=<4=)7+=367=<>0==3?>5=
,467&9+=-*?&=<;90*7+07!

&

'
<543*;=747+5<(6=@==)3>=)<6<03?7=7630<(6

,+*)('&%$)$#"*+!
<7=),4%7?>074="7+7<;97=#=)7+=-747=><4)=
4<;90=(??<6=>;9*3+-2=,4)=)<7=97??>074=07??74=
"=><4)=%7<4=+7<47>=7<!=51=430+?<;974=
540+3>0,1&346=1<0=-*34-<6=0,&74=(54=
;9*3+-=3=-,=7<=5=*<+)=)<7=-747=*59?=
70*3=)<7>71=@,>>;94<00=4=740>.+7;974!
+50-=)7>=4<;90=?-6>'$#29=6+574=540+3>0
,1&346>=87+>07<60=7+=)5;9=)3>=@,&43917(7+
1674=(54=/'!=7>93?8=7+>;97<474=),4%?7=
"7+7<;97=<1=/'"<?)=(??<6=>;9*3+-=%=,4)=
<1=<>056+311=3867>;94<0074=&!=7??7="7+7<
;97=7+>;97<474=3?>=>0+,%0,+?5>72=*7<7=$?;974=
$=,4)=><4)=7874&3??>=<1=<>056+311=3867
>;94<0074='!
<4=@"<?)=1,>>=-*3+=<4=)7+=767?=&+=
)<7=17<>074=@,>6387><0,30<5474=<4=7<4=/'=
,167*34)7?0=*7+)74==5)7+=<4=307<&5+13072=
*<7=$$=5)7+=/2=1<0=94?<;974=<4>;9+4
%,4674!=@87+=87(5+=7>=<4=>5=7<4=$5+130=
,167*34)7?0=*<+)2=%4474=<7=7>=1<0=7<471=
/+56+3112=*<7=@)587=317+3=3*2=740*<
;%7?4!=1=3,&7=)<7>7+=40*<;%?,46=93874=<7=
)<7=6?<;9%7<02=)<7="7?<;90,46>7<4>07??,4674=
>5=-,=4)7+42=)3>>=)7+=-,=8+7<07=540+3>0,1
&346=>5=%".8''6596!"6;.+1;=*<+)=(=,4)=)2=
)3>>=7+=<1=540+3>0,1&346=(54=/'=/?30-=
&<4)70=6!=<7=)3>=67902=7+&39+74=<7=<1=&5?
674)74=5+%>95.!
"

6 <543*;=747+5<(6=@==)3>=)<6<03?7=7630<(

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+<467+7=307<6+7!=<7>7=67+<467=307<6+7=
7+%3,&0=><;9=)7+=$5056+3&=3??7+)<46>=),+;9=
7<47=51.+<1<7+,462=)<7=-,=7+?,>074=<4=)7+=
"<?),3?<00=&9+0!=5?3467=<7=4<;90=8738
><;90<6742=540+3>0=,4)=00<6,46=<4="<?)7+4=
+3)<%3?=-,=873+87<0742=>5??07=)<7>7+=,3?<00>
(7+?,>0=1<0=&+7<71=@,67=4<;90=-,=>7974=>7<4!=
5;9=87<=)74=97,0<674=/+7<>74=&+=$7>0.?30074=
,4)=.7<;97+%3+074=<>0=)<7>7=+>.3+4<>=&+=
1<;9=%7<4='+,4)=179+2=3,&=)<7=5+07<?7=(54=
@=,4)=)<7=$?7#<8<?<00=<4=)7+=@,>3+87<0,46=
-,=(7+-<;9074!

&

<?621066078;%=*78,"6;#6$?#5>7<
7+=<1=@$5+130=&5056+3&<7+02=<>0=<4=)7+=
3672=)74=7<386?7<;9=87<=)7+=40*<;%?,46=
31=51.,07+=(5+-,4791742=,4)=-*3+=1<0=
)71=6?7<;974=.<7?+3,12=)7+=3,;9=87<1=7<
386?7<;9=34=)7+=317+3=-,+=7+&6,46=>04)7!=
@,;9=)3>=-7<67=<;9=9474=<1=4;9>074=5+%
>95.2=<4=)71=<;9=<7=34=)<7='+,4)?3674=(54=
@)587=317+3=3*=97+34&9+74=1;907!

'

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5=*<7=)<7="+<)67=1,>>=3,;9=@)587=317+3=3*=3?>=7<674>04)<67>=/+56+311=870+3;9070=
*7+)74!=>=<>0=,4%7?%3117+=,4)=40*<;%?,46>?385+=)7+=)<6<03?74=$5056+3&<7!=/9505>95.=%344=
@"<?)7+=4<;90=)<+7%0=&&474=,4)=>;954=63+=4<;90=>.7<;97+4==><7=1>>74=<117+=7+>0=1<0=
@=740*<;%7?0=*7+)742=)31<0=><7=<4=/9505>95.=873+87<070=*7+)74=%4474!=@4>;9?<774)=
*7+)74=)<7=307<74=3?>=$$2=/=5)7+=/'=67>.7<;97+0!

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"

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05>95.2=*<+)=3,05130<>;9=)3>=317+33*
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"7<=)7+=40*<;%?,46=)<6<03?7+="<?)7+=87+
?767=<;9=-,4;9>02=*3>=)3>=6+07=/+58?71=
87<=)7+=@,&43917=*3+!=4=)<7>71=$3??=930=)<7=
317+3=87<1=3,05130<>;974=7<386?7<;9=
(??<6=(7+>360!="7<=7<471=/'=*+7=)3+34=
4<;90=179+=(<7?=-,=4)7+4!="7<=)<7>7+=@
307<=3%0<(<7+7=<;9=7<4&3;9=)3>=7<386?7<;9
7+%-7,6="=,4)=%?<;%7=3,&=7<47=07??72=)<7=<4=
<+%?<;9%7<0=*7<=5)7+=6+3,=>7<4=%4407=#!

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3,&=@,674=,4)="<?)>;9<+1=(7+?3>>74!=1=)74=
7<386?7<;9=134,7??=-,=5.0<1<7+742=87)<7
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)3),+;9=*<+)=3,;9=7<4=$3+8>0<;9=87+870540=
><;9083+!=3>=+6784<>=8?7<80=+7;90=6,02=387+=
1<0=7),-<7+,46=)7+==8=7654<347=527=$=,4)=
7+>;9<7874=)7>==8=7651>0=%=43;9='+4=67
&??0=7>=1<+=45;9=87>>7+!

07<>65<,+(7>74

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)7+>=>;947=6?<;9%7<02=7<474=7+0=3,&=
)<7=034)3+)7<4>07??,46=-,+;%-,>70-74="7<=
7<471=5..7?%?<;%=3,&=)74=76?7+=(=*<+)=7+=
-,+=034)3+)7<4>07??,46='=-,+;%(7+>;95874!=
3>=9387=<;9=43;9=)7+=5++7%0,+=)7>=7<38
6?7<;9>=&+=)<7=@?>=<;9=6713;902=7>=6790=387+=
3,;9=1<0=7)7+=34)7+74=<4>07??,46!="?7<80=4,+=
-,=*4>;9742=)3>>=)3>=<+674)*344=7<413?=
3,;9=<4=/9505>95.=6790

'
6 ;8>7*66=$5056+3&<7=,4)=@40*<;%?,46

6!7*8,">54=

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9474=87+7<0>=<4=3.<07?==#=7<07==(5+
67>07??0=9387=744=<7=)74=76?7+=*=1<0=)7+=
3,>=&3>>74=,4)=38%"=)<7=543213>07=)+;%742=
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87+87?<;90707="7+7<;97=*7+)74=&3+8?<;9=67
%744-7<;9470=)!=<7+=8+7;974=<4=)74=<;907+4=
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,+=34)7+7="7+7<;97=>5??74=4<;90=3,>8+7;974!

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<117+=3,;9=)-,(=7'!=7+=+<;%=<>0=)7+>7?87=
34=&3>>0=87<=67)+;%07+=543213>07=)74=
;9*3+-+76?7+=5!=<7+=-7<607=><;92=*<7=-,=7+
*3+074=*3+2=)3>>=(5+=3??71=<1=3;%700=)<7=$3?
074=07<?*7<>7=70*3>=,407+87?<;9070=><4)=4!=;9=
9387=)74=;9*3+-+76?7+=)7>93?8=70*3>=43;9=
+7;90>=67-56742=,1=)<7>7=;930074=3,&-,97?
?74!=<7974=<7=<94=387+=4<;90=*7<07+=3?>=450
*74)<62=,1=)71="<?)=4<;90=-,=(<7?=540+3>0=-,=
479174!=<7>7=5++7%0,+=<>0=4,+=16?<;92=*7<?=
*<+=7>=1<0=7<47+=@307<=-,=0,4=93874

-6

5
6

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3>="<?)=<>0=45;9=&?3,2=*7>93?8=<;9=)74=
&1>57=05*8*7+990=9387!=/7+=5..7?%?<;%=
3,&=)74=76?7+=8=9387=<;9=<94=-,+;%=3,&=
034)3+)=9=67>;9<;%02=,1=)3>="<?)=5947=)<7=
540+3>07+99,46=-,=>7974=6!=344=9387=<;9=
<94=-,+;%=3,&==6795?02=,1=)3>=7>,?030=
)7+=540+3>07+99,46=34-,-7<674=7!=3>=<>0=
7<4=6,07+=+<;%2=,1=5+97+3;997+=-,=(7+
6?7<;974=,4)=)<7=,3?<00=7<47+=@4.3>>,46=-,=
.+&74!=79+=&1>57=05=13;90=430+?<;9=3,;9=
)<7=;930074=*<7)7+=),4%?7+!=71=9387=<;9=
6767467>07,7+02=<4)71=<;9=)<7=%;4$4>*70*3>=
346795874=9387=;!

8
9
;

;8>7*666$5056+3&<7=,4)=@40*<;%?,466

"

67<;376;5(<8,">74

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"*%4474=<7="<?)7+=67+3)7=>07??74!=;9=9387=

)3>=6713;902=<4)71=<;9=)<7=<4<72=)<7=)31<0=
-,=-<7974=<>02=34=)7+=7+34)3=<1=<407+6+,4)=
3,>67+<;9070=9387=#!

5(,"478374

3;9=)71='7+3)7@,>+<;9074=<>0=3,05
130<>;9=)3>=$+7<>07??,46>*7+%-7,6=$=3%0<(!=
744=<7=)3+3,&=%?<;%742=%4474=<7=7<4=7<
074(7+9?04<>=87>0<1174==<;9=9387=*'2* *
67*9?0!=@,7+)71=9387=<;9=<4=)<7>71=74=
647.=+472>+*=>'4;+4>*3%0<(<7+02=)31<0=7<4=
+<007?3>07+=%=3467-7<60=*<+)==)3>=9<?&0=
87<=)7+="<?)%51.5><0<54!=5=(5+87+7<070=9387=
<;9=)74=@,>>;94<00=7<4=8<>>;974=(7+%?7<47+0=
,4)=-,+7;9067>;958742=)31<0=)<7=/7+>54=?<4%>=
4<;90=179+=<1="<?)=<>0!=,?70-0=1,>>=)<7=$+7<
>07??,46=1<0=501=87>00<60=*7+)74!

6<;3;>8?4(+5<&7

1=1<0=7<47+=@307<=)3>=87>016
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,4)=$3+834.3>>,46=>5=*7<0=3?>=16?<;9=<4=
=@)587=317+3=3*=13;974!=<7=76<>07+%3+
07=+7;90>=47874=#72>"4;>054..2>+4>*?>>0=<7=
)<7=#7="=5;1>0927!4*&=873+87<074!=;9=9387=
9<7+=)3>=407++76<>07+=2>95*(*67*9?02=<4=
)71=<;9=7<47=,+(7=>5=7<4-<7974=%3442=*<7=<;9=
7>=3,>=/9505>95.=67*5940=8<4=#=7<07=!=
<7=67*9?07=,+(7='=1<0=)+7<=/,4%074=930=
)<7=1<00?7+74=47=7<4=8<>>;974=346795874!

/
6 ;8>7*66=$5056+3&<7=,4)=@40*<;%?,46

' (

62;5(,"<73587<54=

<7=@,&43917=740>034)=>.0=3874)>2=
,4)=0+50-=7<47>=?<;90>03+%74=87%0<(>=1,>>07=
<;9=)74=7+0=>03+%=7+9974!=3>=&9+07=
-,=)7,0?<;971=3,>;974=)!=71=%344=87+=
)<7=)+<007=76<>07+%3+07=4==-,1<4)7>0=<4=3
74==386795?&74=*7+)74!=,+=7),-<7+,46=
9387=<;9=2<;>=>'*5=7??<6%7<0=346795874=
,4)=1<0=)74=76?7+4=&+=2<;>=>'"45=;.0*,4)=
2<;>=>'91>57=05*67>.<7?02=8<>=<;9=1<0=7
*7<?>==1<0=)71=+6784<>=-,&+<7)74=*3+!=<0=
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?>>0=><;9=)3>="<?)=(5+97+43;997+=(7+6?7<;974!

6,"<97

3,>;9+7),-<7+,46=,4)=;9+&7=><4)=
,40+74483+=(7+8,4)74!=3,>;974=+7),-<7+74=
&9+0=-,=7+?,>0=34=703<?>;9+&7=>;9+&74=87
0540=3,>;974!=34=1,>>=7<474=51.+51<>>=
>,;974!=<7+=9387=<;9=/457=+*6*3,&= =3467
95874!=31<0=)3>=3,>;974=16?<;9>0=*74<6=
1<067>;9+&0=*<+)2=9387=<;9==09;474>=7=34
67*74)70!=744=<7=34=)<7>71=76?7+=87<=67
)+;%07+=543213>07=-<79742=*7+)74="7+7<;972=
)<7=13>%<7+0==3?>5=52+1;=67>;9+&0==*7+)742=
>;9*3+-=13+%<7+0!='7>;9+&0=*<+)=)3>2=*3>=<4=
)7+=5+>;93,=*7<=67%744-7<;9470=<>0!

6
7

6*;<"78>6543664;#8+

;9=8<4=-,1=76<>07+=#72>"4;>
054..2>+4>=8=-,+;%67%79+0!=<7+=9387=<;9=
)74=$3+874=),+;9=@497874=(54=@?>=<;9*;*
#=7<07==179+=7874)<6%7<0=(7+?<7974!=
343;9=9387=<;9=&.=7,4;5=9=70*3>=346795
874!=&.=7,4;5=<>0=7<4=8<>>;974=1<0=&1>57=05*
(7+*34)02=7>=7+990=3??7+)<46>=(5+=3??71=)74=
540+3>0=(54=0+,%0,+74!=3>=<>0=6,02=*744=
134=-,1="7<>.<7?=)<7=0+,%0,+=3?07+='71,7+=
8705474=1;907!=$+=/5+0+0>=<>0=7>=797+=4<;90=
677<64702=*744=134=4<;90=1;9072=)3>>=3,;9=
3,0.5+74=870540=*7+)74!=<7+=67&??0=1<+=)7+=
&&7%0=3??7+)<46>=6,0!

9
;

;8>7*666$5056+3&<7=,4)=@40*<;%?,466

"

# -

6>>8=54=6543667**8=+78>

+99,46=)7+=@?>=<;9**<+%0=><;9=
-*3+=797+=15)7+30=3,&=3,0047=3,>2=)74
45;9=71.&<4)7=<;9=)74=$3+8054=)<7>7>=
"7+7<;9>="=3?>=70*3>=-,=%+&0<6!=;9=9387=
)7>93?8=)3>=76<>07+=)#7=2052$4>*#*3%
0<(<7+02=,407+=)55;+2>+*$*)<7=7=>+45>4*
70*3>=740>00<60=%=,4)=,407+=2<;>=>'*&*
)<7>7?874=47=70*3>=97??7+=6713;90='!

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67==67+3)7=67>0+7;%0!
<7=4;9>07=<4<7=9387=<;9=<1=346=3467
?760=%!=;9=8<4=)387<=<40,<0<(=(5+67634674=
,4)=93872=*744=7<47=<4<7=-,=7<471=5&&74
><;90?<;9=,48+3,;983+74=7>,?030=67&9+0=9302=
><7=1<0=5,2+*15)15(1=-,+;%67451174=,4)=
34=34)7+7+=07??7=7<47=34)7+7=<4<7=67-5674!

&

'

7<>8+;*6;5(<8,">74

<47=*7<07+7=<4<7=9387=<;9=740?346=
7<47>=/&5>074>=)7>='7?4)7+>=67-5674=&!=
3>=<>0=-*3+=4,+=7<4=%,+-7>=?717402=)5;9=
>5?;9=675170+<>;97=7<?7=67874=7<4=8<>>;974=
<;97+97<0=<4=)7+=540+5??7=)7+=5++7%0,+74!=
<7=6+57=703<?34><;90='=+7;90>=*3+=87<1=
%5++7%074=@4?7674=)7+=<4<7=),+;93,>=7<47=
<?&7!=3;9)71=<;9=)<7=<4<7=67-5674=930072=
9387=<;9=><7=1<0=+7;907+=3,>03>07=3467%?<;%0=
(=,4)=87+=)74=74.,4%0=475;9=.=(7+0<%3?=
3,>67+<;9070!

6 ;8>7*66=$5056+3&<7=,4)=@40*<;%?,46

?<8?4>6=7<;376<,+74

@?>=;9>07>=9387=<;9=)74=5+<-540=(<3=
7;90>%?<;%=3,&=)<7=<4<7=87+=)71='78<+6>
%311=17;'1>5=.*3,>67+<;9070=)!=<7=%?7<
474=+7<>7=*=9<7+=%4474=<7=1<0=)7+=3,>=
34&3>>74=,4)=)31<0=)<7=7<6,46=>7?8>0=87
>0<1174!=;9=&34)=)3&+=87<=)<7>7+=5++7%0,+=
3??7+)<46>=%7<474=(7+44&0<674=<4>30-!
<47=*7<07+7=<4<7=9387=<;9=740?346=)7+=
45;9=678567474=",17=?<4%>=67-5674=42=
,4)=)<7>7=<4<7=9387=<;9=<1=@4>;9?,>>=.7+=
7;90>%?<;%=*<7)7+=475;9=.*3,>67+<;9070!

!;5#6=7<;376;59<8,">74

<4=7<4-7?47+="3,1=>034)=4,4=+7;90>=
3,;9=70*3>=*<4)>;9<7&=<4=)7+=34)>;93&0!=;9=
9387=3,;9=34=<91=740?346=7<47=<4<7=67-5674=
5=,4)=><7=(<3=7;90>%?<;%=475;9=.*3,>67
+<;9070!=1=)74=+7;9074=34)=70*3>=67+3)7=
-,=8<76742=9387=<;9=)<7=<4=;9+<00==67-56747=
<4<7=31=/&5>074=3467%?<;%0=,4)=)74=@4&3>>7+=
34=<9+71=587+74=4)7=(54=9<7+=7=43;9=)3=6=
7+*7<07+0!
$+=1<;9=*3+=)<7>7=5++7%0,+=3,>+7<;974)2=
,4)=>5=9387=<;9=)<7="73+87<0,46=1<0==38
67>;9?5>>74!

-6

@<78(>7**74

<7=(7+-567474="7+7<;97=,4)=*7<74=
$?;974=+,4)=,1=)<7=-747=9387=<;9=1<0=)71=
=$+7<>07??,46>*7+%-7,6=
=87>;94<0074!=<4=
8<>>;974=)7+=*7<74=$?;974=9387=<;9=>07
974=?3>>74=82=)744=>54>0=9007=<;9=-,=%43..=
87>;947<)74=1>>74!=<7=?<774=><;9=6,0=1<0=
)71=3,87+>038=
=3,>*9?74!=;9=9387=
)344=)3>="<?)=3,&=<407+6+,4)78747=+7),-<7+02=
)<7=@,>*39?=87+=20(=,.**20(=,.*!47
>"47>**7(4;547>=,1==/<#7?=7+*7<07+0=
,4)=)344=),+;9=+;%74=)7+=5'&13>07=)<7=
07??74=>,=.506=0;475*67&??0=#=7<07=!

;8>7*666$5056+3&<7=,4)=@40*<;%?,466

68="64;#8,62;4=762
+1;6.=='2;=7?57="5;6>.+126302+1=-602+1;6;65=25%60-2036>5
<7=93874=-,="76<44=)<7>7>=3.<07?>=7+&39+742=)3>>=)7+=540+3>0,1&346=)7+=+73?74=7?0=-,=6+5=
<>02=,1=<94=1<0=7<47+=7<4-<674="7?<;90,46=7<47+=7<4-<674=@,&43917=388<?)74=-,=%4474!=<0=
=(7+>,;90=134=)<7>7>=/+58?71=-,=?>742=<4)71=134=179+7+7=,407+>;9<7)?<;9=87?<;90707=
@,&439174=7+>07??0=,4)=><7=)344=31=51.,07+=-,=7<471=7<4-<674="<?)=1<0=95971=540+3>0,1
&346=-,>3117483,0!

15(=;4=(%8*3

"!#%$#

"!

$4&=<4-7?87?<;90,4674=>5??74=-,=
=7<47+="7?<;90,46=(7+7<40=*7+)74!

;>786"3<34=6)6"3<34=

!7;<%78>54=((,"<8>>7
"!

"<?)7+=87+=/9505>95.$,4%0<54=
-,=7<47+="7?<;90,46=-,>31174&674

('&%%$#

6 ;8>7*66=$5056+3&<7=,4)=@40*<;%?,46

"

5626<?65(;##749=74

;9=9387=)<7=&4&=307<74=-,=)<7>71=
5+%>95.=<4=)7+=<4<="+<)67=3,>67*9?0=,4)=
.7+=7;90>%?<;%="=,1510,13**2*@*71*
'20=<<4>$+4>*67*9?0!=/9505>95.=13;90=
)344=)74=6+074=7<?=)7>=7>0>=*7<067974)=
3,05130<>;9!=@?07+430<(=%4474=<7="<?)7+=
3,;9=87+=@=54;**251<=5;0;474>**2*@*
71*'20=<<4>$+4>2=387+=87+=)<7=<4<=
"+<)67=6790=7>=)5;9=31=>;947??>074!

"*76;59"7**74

<+=6790=7>=9<7+=1<0==(5+=3??71=
)3+,12=<4=)7+=<7&7=)7>=,447?>=7<;94,46=
><;9083+=-,=13;974=#2=>0300=7<4=>;9*3+-7>=
5;9=1<0=<;90=31=4)7=-,=>7974!=@?>=17+=
64*$*9387=<;9=815174=.;05;0-,*67*9?0=,4)=
)344=>5=?3467=7#.7+<1740<7+02=8<>=<;9=)<7>7>=
+6784<>=93007==";20*=/<#7?2=)5794*2=
#=<<=*22=/4.;-,52>+*2=@45=;.0*2=%;4
$4>*=2=;-,547*=2=@?>=<;9*==
,4)=)55;+2>+*=!=1="7)3+&>&3??=?3>>74=><;9=
8+<674>=3,;9=7<4-7?47="7?<;90,4674=3,>=)7+=
"7+7;94,46=3,>>;9?<774=%!

&

<;3;>8?4(+5<&7

'

/7+=#7="=5;1>0927!4*(*9387=<;9=70*3>=
-,>0-?<;974=540+3>0=<1=,447?=7++7<;90!
<7+=&=930=><;9=*9+74)=)7+=@,&43917=
70*3>=87*760!=5+13?7+*7<>7=>5??07=#4;0547
6;."47*4>5$47>4>='=<4=)7+=367=>7<42=>5?;97=
$79?7+=-,=%5++<6<7+742=3??7+)<46>=4<;902=*744=
)7+="7+7<;9=<4=%7<471=)7+=@,>6346>8<?)7+=
>;93+&=<>0!=;9=9387=)<7>7=07??7=>0300)7>>74=<1=
@4>;9?,>>=1<0=)71=@,>87>>7+47+%-7,6=
=
%5++<6<7+0=#=7<07=!=,1=.7<;97+4=3?>=
/'=5)7+=-,1=+,;%74=>5??074=<7=)3>="<?)=
<4=/9505>95.=87+=/;."**1"20*3,&=*/;5
&=>=.*+7),-<7+74!

;8>7*666$5056+3&<7=,4)=@40*<;%?,466

62?>7615=74674>97<474
2578+1="53=1$..02+1=<36>=6;,8.=.+1,26>296>4=8-6>=.+15
7<47="?3;%?<>0=)7+=,48+3,;983+74=7+%-7,67=<4=/9505>95.=,1&3>>0=6743,=-*7<=34)<)3074=
)3>=493?0>83><7+0(7+>;9<78747+%-7,6=,4)=)3>=507@,6747+%-7,6!=;9=9387=17<47=
7<6747=7095)72=*<7=<;9=+5074=@,674=-,=7<87=+;%7!=<7=%4474=)<7=87<)74=7095)74=67+47=
676747<434)7+=340+7074=?3>>74!

15(=;4=(%8*3
"!

507=@,674=),+;9=)<+7%07>="?<0-74

;>786<?>7;5=74=

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"!

507@,6747+%-7,6=(7+>,>=

"!

@,>*39?=,4)="<?)87+7;94,4674

('&%%$#

6 ;8>7*66=$5056+3&<7=,4)=@40*<;%?,46

"

2?>7/15=74/07<+75=

<7=@+87<0=1<0=)71==507@,6747+%
*876<440=1<0=3074!=7<47=;90-,46=
-7,6*
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"!=@,7+)71=*+)7=<;9=>;90-742=)3>>===
=47"2>9.2>+06457=+*#*7<4=8+3,;983+7>=
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<;9=7<474=39174=,1=)<7=+5074=@,674=67-5
674=$!=1=(7+6?7<;974=-,=%44742=58=17<47=
7095)7=87>>7+=<>02=9387=<;9=7<474=;943..
>;9,>>=7+>07??0=&=,4)=8<4=34>;9?<774)=.7+=
?<;%=-,+;%=-,1=@,>6346>8<?)=%!

&

'

15(-;"*67<(>7**74

$+=17<474=+<;%=8+3,;974=*<+=7<47=
@,>*39?=7=/,.<??7!=3-,=47917=<;9=)3>==@,>
*39?7??<.>77+%-7,6=
2=>07??7=)<7===4;-,4*
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*&=>54* *3,&==/<#7?=,4)=-<797=)<7=@,>*39?74=
'=,4)=)=3,&==)<7=-*7<07=87<=67)+;%07+=5-1
3>07=#=7<07=!
8=5?3467=<7=)<7=3,>03>07=*9+74)=
)7>=+>07??74>=7<47+===@,>*39?=4<;90=?5>?3>>742=
%4474=<7=),+;9=+;%74=,4)=3?074=)7+=
77+03>07=)<7=@,>*39?=(7+>;9<7874==?3>>74=
<7=)<7=77+03>07=?5>2=%4474=<7=)<7='+7=
*<7)7+=4)7+4!

6!8*3%7<7,"454=74

3;9)71=)<7=@,>*39?=>07902=8?74)7=<;9=
><7=<4=)7+=767?=1<0=5,2+*15)15%1=3,>=74=
>0;-,5**57=0!=344=+,&7=<;9=87+=/;."*
*/;."6474-,>2>+4>*3,&=,4)=*9?7=,407+=
&=>=.**#7>=*=,4)=,407+=;0-,<1"20**
2.5;3.;';474>*4!=0=(5<?=<7=@,674=><4)=
67+70070
<7=%4474=(51=7>,?030=45;9=7<413?=7<474=
;943..>;9,>>=13;974=,4)=7>=1<0=)71=7
>,?030=)7>=507@,6747+%-7,6>=(7+6?7<;974!=
744=9+7=@,>*39?=6,0=>32=>5??07=)<7>7>=7
>,?030=)7,0?<;9=87>>7+=>7<4!

*
4

;8>7*666$5056+3&<7=,4)=@40*<;%?,466

<?97((8?47**7(66,"<9746846;%
256=8".967620;6=6;1<36=%"'=+1$>765=80.=&*;2<5
>=6<80=(<7?7=7095)742="<?)7+=-,=>;9+&742=,4)=7>=930=*59?=7)7+=#.7+07=7<4=7<6747>=7-7.02=
3,&=)3>=7+=>;9*+0!=;9=9387=(5+=7<4<674=39+74=7<413?=)<7>7=7095)7=67?7+40=,4)=><7=<1=3,&7=
)7+=7<0=43;9=17<474=+&39+,4674=3467.3>>0!=3=<;9=.+3%0<>;9=7)7>="<?)=>;9+&72=9387=<;9=><7=
3?>=@%0<54=3467?7602=)31<0=<;9=><7=7)7+-7<0=.7+=45.&)+,;%=,4)=<447+93?8=7<4<67+=7%,4)74=
34*74)74=%344!

15(=;4=(%8*3
"!

3>="<?)=>5??=67>;9+&0=*7+)74!

;>786*;%/(,";7<974=

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"!

@%0<54=3,&479174

"!

4=38$3+87=,1*34)7?4

"!

7??<6%7<0=3?>=@,>*39?=?3)74

"!

4>;93+&=13>%<7+74

('&%%$#

-6 ;8>7*66=$5056+3&<7=,4)=@40*<;%?,46

"

6'75761+>8?465436;5947"#74

$+=17<47=7<67474=@%0<5474=9387=<;9=
<4=)7+=*95;1>4>/3?7007=7<474=47,74=30-=
=$=1<0=)71=3174='3?<?75=7+>07??0=#!=
3+<4=9387=<;9=),+;9=?<;%=3,&=424**95;1>*
47054..4>=
=%=)74=<3?56=+7;90>=7+93?0742=
9387=)<7=@%0<54=@"=;9+&74=6703,&0=,4)=
7<47=82>95;1>05=054="=1<0=-,>0-?<;9=5-1=
3?>=3>030,+87&79?=)7&<4<7+0!=344=9387=<;9=1<0=
2$'4;-,>4>=)<7=@,&43917=67>03+070!
8=87+=)3>=/3?70074174= =%4474=
<7=95;1>4>*034;-,47>*,4)=93874=)344=7<4=
"3;%,.=9+7>=30-7>!

&

$ %

7**8=+78>6;*(615(-;"*6*;374

,4;9>0=9387=<;9=87+=/;."**1"20*
-,1=$3+8+3,1===68=764*67*7;9>7?0!=/7+=
?<;%=87<=67)+;%07+=5,2+*15)13>07=3,&=)<7=
<4<30,+=&=)7>=343?>=4..;+94;5=9387=<;9=
)<7>74===3?>=@,>*39?=67?3)74!=<7=@,>*39?=
9387=<;9=1<0=5,2+*15)15-15$1=,167%79+0=
,4)=)344=1<0=5,2+*15)15%1=3,>678?74)70!
<7=;9+<007=1"20*91>!475;474>=20
(=,.*4;>054..4>*,4)=20(=,.*2<94,74>*
><4)=3,&67-7<;9470=*5+)74='2=4<;90=387+=
20(=,.*=206.4>"4>2=*7<?=)3>=&+=/9505>95.=
%7<474="73+87<0,46>>;9+<00=)3+>07??0!

'

74%797"*67849=74

1=20(=,.*=206.4>"4>=3?>=;9+<00=<4=
)<7=@%0<54=3,&-,4791742=9387=<;9=<1=/3?70
074174=(=)7+=@%0<5474/3?7007=4>64$4,.*
4;>$+4>*67*9?0!=>=7+>;97<40=7<4=<3?56
&74>07+2=)3>=<7=8<007=45;9=4<;90=87>00<674!=
'7974=<7=>0300)7>>74=<4>=74=>0;-,5**
>'4;+4>**20(=,.9=>54>!=7+=67*9?07=
"7&79?=*<+)=<4=4>64$4,.*4;>$+4>*3,&67
451174!=70-0=)+&74=<7=<1=<3?56&74>07+=
3,&==%?<;%74!=7+=;9+<00=*<+)=<4=)<7=@%0<54=
3,&67451174!

;8>7*666$5056+3&<7=,4)=@40*<;%?,466

"

7**8=+78>/;4;*6;+>8&87<74

4=38$3+87=*7+)74="<?)7+=<4=7<471=
4..;+94;5343?2=<4=7<471=3343?2=)7+=
50=,4)='+43407<?7=87<493?0702=,4)=7<471=
8343?2=)7+="?3,=,4)='7?83407<?7=7409?02=
87>;9+<7874!=7+=540+3>0=7<47+=@,&43917=
<>0=.+3%0<>;9=3,>>;9?<7?<;9=<1=343?=4..;+
94;5*3467><7)7?02=)7>93?8=3%0<(<7+7=<;9=)<7>742=
<4)71=<;9=+7;90>=)7+=343?1<4<30,+=%?<;%7=#=
=)3>="<?)=>07??0=><;9=)344=>5=$=)3+!=/7+=?<;%=
<4>=,3)+30="=?<4%>=)7+==6<4<30,+=8?74)7=
<;9=)<7=$3+87=*<7)7+=7<4!

;>(,"*8,"7687*

34=)3+&=-,1=;9+&74=7<47>="<?)7>=
%7<47>&3??>=7<47=34)7+7=3+>07??,46>6+7=3?>=
==*9?74=7>93?8=9387=<;9=1<0=5,2+*1
5)1543215#1=%=50-,.;-,4*;4.*7<467>07??0!=
@,;9=)<7>7+=;9+<00=6<?0=&+=/9505>95.=4<;90=
3?>="73+87<0,46>>;9+<002=*7>93?8=<;9=*<7)7+=
<1= =/3?70074174=4>64$4,.*4;>$+4>*
67*9?0=,4)=)74="7&79?=.7+=3>074%+-7?=47,
7+?<;9=3,&67+,&74=9387!=<4=?<;%=3,&==&60=
)74=;9+<00=*<7)7+=)7+=@%0<54=9<4-,!

-6

64(,";<96#;(+87<74

<7=5+87+7<0,4674=><4)=4,4=3867
>;9?5>>74!=3>=@,>%?3117+4=)7+=$3+8%34?7=
3=,4)=8=(7+9<4)7+02=)3>>=),+;9=)3>=;9+&74=
>567434407>=$3+8+3,>;974=(7+>0+%0=*<+)!=<7=
,167%79+07=@,>*39?=3,>=)71=7??<6%7<0>%3
43?=6+74-0=)<7=@,>*<+%,46=)7>=;93+&-7<;9
474>=7<4!=,4=9387=<;9=87+=8;.547**)-,=7$
'4;-,>2>+0$;.547**>0-,=7$*<=09;474>*
3,&67+,&742=)5794*1<0==2==";20*1<0==
/<#7?=,4)=)-,(4..4>(475*1<0==0,&74=3?>=
"3><>=)7&<4<7+0!

6 ;8>7*66=$5056+3&<7=,4)=@40*<;%?,46

&

1+>8?46;%(,"*8774

3;9=>0-,=7$*<=09;474>**<+)=*<7)7+=
.7+=?<;%=3,&==6=%=)7+=67>3107=$3+8+3,1=3%
0<(<7+02=1<0=5,2+*15)15"1=)<7=@,>*39?=3,&67
95874=,4)=87+=/;."**1"20*-,=#/8=764*
67*7;9>7?0!=<7=@%0<54=<>0=)31<0=8774)702=
,4)=<7=%4474=1<0=?<;%=3,&=)<7>7>=,3)+30=
'=)<7=@,&-7<;94,46=8774)74!
54=4,4=34=%4474=<7=)<7=@%0<54=7)7+-7<0=
3,>&9+742=<4)71=<7=)74=<07?=9<7+=3,>*9?74=
&=,4)=9<7+=3,&=03+0=(=%?<;%74=5)7+2=45;9=
87,717+2=7<4&3;9=)74=-,="76<44=)7&<4<7+074=
3>030,+87&79?=7<467874!

'

68;*?=6;+>8&87<74

87+=)<7=%;974=)=%4474=<7=87
>0<11742=58=7<4=;9+<00=*9+74)=)7>=@8?3,&>=
)7+=@%0<54=3,>67&9+0=*<+)!=34;913?=<>0=7>=
><44(5??2=7<474=;9+<00=&+=7<4=87>0<1107>="<?)=
071.5++=-,=,407+8<4)74!=<;90<6=<>0=3,;9=
)3>=-*7<072=43;9=034)3+)=?77+72=,3)+30=*!=
,+;9=7<474=?<;%=)7&<4<7+74=<72=)3>>=34=)<7
>7+=07??7=)7+=)3-,=679+74)7=<3?56=67&&470=
*<+)==9<7+=>0-,=7$*<=09;474>!=5=%4474=
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3,>=97??7+74=,4)=),4%?7+74=/,4%0742=,4)==$3+8+3,>;9742=7<47=&7<47=0+,%0,+=3,>=/,4%074=<4=)74=
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9387=<;9=7>=87+=/;."**1"20*3,&===68=764*
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9387=<;9=3,&==87?3>>74=87-<79,46>*7<>7=-,
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4><442=*7<?=><;9=$3+874=59479<4=3,&=(7+
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>5??072=43;9=5.0<13?74=>,4674=-,=>,;974!
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@?>=$5056+3&=87>;9*7+0=134=><;9=67+47=7<413?=
87+=+,;%7+7<742=)<7=4<;90=<1>034)7=><4)2=
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03?8<?)7+4=-,=/3.<7+=-,=8+<4674!=&0=?<760=)<7=
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87+0+3674=?>>0!
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5)7+=87<=54474,407+6346=5)7+=58=67+3)7=
7<4='7*<007+=97+34-56!=3>=?<760=)3+342=)3>>=
6 <543*;=747+5<(6=$3+81343671740

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47,0+3?2=,4)=31=@874)=87<=54474,407+6346=
(7+>;9<780=7>=><;9=<4>='7?8?<;90?<;97!
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"<?)>;9<+1=873+87<074!="<?)873+87<0,46=>5??07=
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873+87<0,46=>563+=7<474=3,1=,407+=5+1
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34497+4)=6?7<;98?7<874)7="7)<46,4674=<4=
9+7+="<?)873+87<0,46>,1678,46=>;93&&74=,4)=
9+74=51.,07+=,4)=54<05+=&+=)<7=$3+8)3+
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7<4!=3>2=*3>=)<7=317+3=><790=,=,4)=>.7<
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34)7+>=3,>>7974!=7<47=-*7<=317+315)7??7=
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874=7<0==<)740<>;9=3,&479174!
744=<7=)3>="<?)=3,&=9+74=51.,07+=87+
0+3674=,4)=31=54<05+=870+3;9074=$2=*7+
)74=<7=(<7??7<;90=&7>0>07??742=)3>>=)<7=$3+874=

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,4)=31==317+3<>.?3=67>7974=93874!
5=?<760=)3>=/+58?71=30=)<7=317+3=)<7=
$3+874=&3?>;9=67>7974=)7+=?60=)7+=5
4<05+=<7>7=$+367=?>>0=><;9=4<;90=.3,>;93?=
87340*5+074==87<)7>=<>0=16?<;9!=<;97+=<>0=
387+2=)3>>=5947=>.7-<7??7=5+87+7<0,46=6747
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34=$3+87<4>07??,4674=(54="70+<78>>->071=,4)=
"<?)873+87<0,46>>5&0*3+7!=<7>7=><4)=(54=
7+>07??7+>7<07=>5=%54&<6,+<7+02=)3>>=><7=&+=
"+534*74),462=7<151.,07+"7)3+&=,4)=
.<7?7=7<47=5.0<13?7=<+%,46=7++7<;9742=4<;90=
&+=)<7=.33+=/+5-740=$5056+3&742=7><647+=,4)=
+,;%7+2=)<7=$3+874=3,&=(7+>;9<7)7474='7+
074=%54>0340=)3+>07??74=1>>74!
39+>;97<4?<;9=*7+)74=<7=)3>="<?)=3,;9=
3,>)+,;%74!=744=<7=)3>=>;954=7<4=.33+13?=
67034=,4)=)<7=,3?<00=)7+=$3+8*<7)7+6387=
%+<0<>;9=876,03;9070=938742=<>0=9474=87
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7%?3034074=@8*7<;9,4674=%5110=-*<>;974=
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3>=/+58?71=876<440=87<=)7+=<1174>74=
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678,46=,4)=?<760=7874>5=31=745+174=7??<6
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744=<7=3,>=7<471=>79+=)<;90742=>;9300<
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317+3=%344=)3>=7874=6743,>5=*74<6!=@,;9=

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3>=34)7+7=/+58?71=870+<&&0=)<7==7,;90%+3&0=
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7+&3>>74=*74<67+=$3+874=3?>=,4>7+7=@,674!=
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3,;9=><7=><4)=4<;90=<4=)7+=3672=3??7=$3+874=)7+=
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@??7+)<46>=%5110=87<=<9474=$3+87=)3),+;9=
-,>034)72=)3>>=7<47=>;9*3+-7=300>;97<87=
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"7<1=@,>)+,;%=9<467674=%5110=)3>=<;90=3,>=
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7<471=34)7+74=+67+1307+<3?=+7&?7%0<7+0=7>=
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7<4=67)+,;%07>="<?)=4<;90=>5=?7,;9074)=8,407=
$3+874=74093?0742=*<7=><7=)7+=54<05+=)3+
>07??74=%3442=67>;9*7<67=)7442=*<7=><7=<4=)7+=
30,+=(5+%51174!
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74>;9742=>7<0=7>=$3+8&5056+3&<7=,4)=$3+8)+,
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07+430<543?7="719,46742=7<497<0?<;97=034
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6 <543*;=747+5<(6=$3+81343671740

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43;9=17<47+=+&39+,46=3,;9=1<0=7<4&3;974=
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5&0*3+7=>07??0=7<47=@8&5?67=(54=$3+80474=
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5&0*3+7=87+1<007?0=*7+)74!=<7>7=7+%7440=
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4<;90=)71=034)3+)=740>.+7;974)=)3+>07??0!=
3+3,>=%344=7<47="7>;9+7<8,46=6747+<7+0=,4)=
3?>=>567434407>=/+5&<?=#=<1="70+<78>
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,62#=)7+=51.,07+2=*<7=7+=$3+874=>5=3467
.3>>0=34=)74=54<05+=>;9<;%74=1,>>2=)31<0=
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