Anda di halaman 1dari 104

Connecting Smart and Sustainable

Growth through Smart Specialisation


A practical guide for ERDF managing authorities

November 2012
Regional and
Urban Policy

Printed in Belgium

&%%+ %*$)+%*,*+ %#


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

'CJ9A69F 

(*
HC69=AD@9A9BH985G4>2<//7?>?+66C</3809<-381:<39<3>3/= "BCF89FHC89@=J9FCBH<9G9;C5@G5B8
@B?F9451B5C@?>C5D?D8553?>?=931>4K>1>391<3B9C9C9D9C?6ED=?CD9=@?BD1>35D81D1<<9>F?<F54
57HCFG7CBB97HH<9G95F95GC:57H=CB =BJC@J=B;5@@F9@9J5BHGH5?9<C@89FG 89J9@CD=B;GMB9F;=9G5B8
6CCGH=B;H<958898
J5@I9C:DI6@=7=BJ9GHA9BHG 
+?@B?=?D51=?B5B5C?EB3556K395>D7B55>5B1>4=?B53?=@5D9D9F553?>?=I9D9C3<51BD81DD85G1I
1851481CD?9>3<E45C97>9K31>D9>>?F1D9?>CECD19>12<57B?GD8>554CD?7?81>49>81>4G9D8C=1BD
7B?GD89>?B45B6?BD85,1>49DC39D9J5>CD?B51@D856E<<25>5KDC?61CG9D38D?D857B55>53?>?=I

IFCD9B998GHCF9=B:CF79GMB9F;=9G69HK99BGA5FH5B8GIGH5=B56@9;FCKH<HC895@K=H<H<97@=A5H9
7<5B;9  9BJ=FCBA9BH5@ 5B8 9B9F;M 7<5@@9B;9G 5G K9@@ 5G ;FCK=B; F9GCIF79 G75F7=HM  CBH=BI=B;
K=H< CIF 7IFF9BH 7CBGIADH=CB 5B8 DFC8I7H=CB D5HH9FBG =G BCH 5B CDH=CB  /9 B998 HC 7<5B;9 CIF
97CBCA=9G7IFF9BH@M65G98CBCJ9FIG9C:B5HIF5@F9GCIF79G=BHC=BBCJ5H=CB
8F=J9B;F99B97CBCA=9G
,<9;@C65@89A5B8:CF9BJ=FCBA9BH5@H97<BC@C;=9G 97C
:F=9B8@MDFC8I7HG5B8G9FJ=79G5B8GIGH5=B56@9
89G=;B=895G=G9LD97H98HC;5H<9FGD998=BH<97CA=B;M95FG ,<9;@C65@A5F?9H 7IFF9BH@M9GH=A5H98
5HZ HF=@@=CB5M95F 7CI@85@ACGH8CI6@9 K=H<H<95J9F5;99GH=A5H9:CF  69=B;5FCIB8ZHF=@@=CB
5 M95F  - &9A69F +H5H9G 5B8 F9;=CBG 75B G9=N9 H<9G9 CDDCFHIB=H=9G 6M 9BH9F=B; H<=G 9LD5B8=B;
A5F?9H ,C8CGC H<9MB998HC=BJ9GHACF9=BH<989J9@CDA9BHC:F9G95F7<5B8=BBCJ5H=CB5B89BHF9

DF9B9IF=5@75D57=HM=B5F95GGI7<5GGIGH5=B56@99B9F;M 97CGMGH9AG9FJ=79G5B897C
=BBCJ5H=CB
*E335CC 9> 2B9>79>7 12?ED D89C C896D D? 1 <?G 31B2?> 1>4 B5C?EB35 56K395>D 53?>?=I 21C54 ?>
=BBCJ5H=CBK=@@6989H9FA=B98HC5;F95H9LH9BH6M897=G=CBGA5895H@C75@5B8F9;=CB5@@9J9@G "B
H<9IFCD95BCAA=GG=CBGDFCDCG5@G:CFH<9:IHIF9C:C<9G=CB)C@=7M =BBCJ5H=CB5B8H<9;F99B
97CBCAMH5?979BHF9GH5;9 *9;=CB5@DC@=7MK=@@69J=H5@:CFAC6=@=G=B;H<9DCH9BH=5@C:-F9;=CBG5B8
7=H=9GHC897CID@9;FCKH<:FCAF9GCIF79CJ9FIG9 =BD5FH=7I@5FH<FCI;<5B9K;9B9F5H=CBC:F9G95F7<
5B8=BBCJ5H=CBGHF5H9;=9G:CFGA5FHGD97=5@=G5H=CB*"+ &5BMC:H<9A95GIF9GB99898HC89@=J9F
7<5B;9K=@@69D@5BB985B8=AD@9A9BH985HF9;=CB5@@9J9@ ,<5H=GK<MH<=G;I=89G9HGCIHHC<9@D
DF9D5F95B889J9@CDH<9B9LHDFC;F5AA=B;D9F=C8 
  
,<=G;I=89=GCB9=B5G9F=9GC:;I=89GDF9D5F98=BH<9:F5A9KCF?C:H<9+A5FH+D97=5@=G5H=CB)@5H:CFA
G9HID6MH<9IFCD95BCAA=GG=CB "H=GBCH5B57589A=7DI6@=75H=CB6IH5DF57H=75@8C7IA9BHK=H<
7CB7F9H9F97CAA9B85H=CBG5B89L5AD@9GC:;CC8DF57H=79H<5HG<CKDCH9BH=5@K5MG:CFK5F85B8HC
:57=@=H5H98=G7IGG=CB69HK99BDI6@=75IH<CF=H=9G5B8GH5?9<C@89FG 
/99B7CIF5;95@@H<95IH<CF=H=9G5B8GH5?9<C@89FG=BJC@J98=BH<9DF9D5F5H=CBC:H<9B9LHDFC;F5A

A=B;D9F=C8 5B8=AD@9A9BH5H=CBC:H<9B9KDFC;F5AA9G HCA5?9:I@@IG9C:H<=G;I=89 F=B;=B;


=BH9@@=;9BH 57H=CB CB H<9 9BJ=FCBA9BH  7@=A5H9 7<5B;9 5B8 9B9F;M 5G K9@@ 5G =BHC F9G95F7< 5B8
=BBCJ5H=CBGHF5H9;=9G:CFGA5FHGD97=5@=G5H=CB=GH<969GHK5MHC89J9@CDH<9;F99B97CBCAMQHCH<9
25>5KD?6,CB579?>C1>439D9J5>C

!?81>>5C18>

!1>5J'?D?3>9;

CAA=GG=CB9F:CF*9;=CB5@)C@=7M

CAA=GG=CB9F:CFH<9BJ=FCBA9BH

, !+-! +&
)*)*1
C5<?B1>?F1
<9>1B9>9535

,97<BCDC@=G FCID FIGG9@G

$9381<$954J9>C;95B8
<1C419B)594
(&&"++"('1
 *9;=CB5@5B8-F65B)C@=7MIFCD95BCAA=GG=CB
IB89FH<9GID9FJ=G=CBC:$9;5<#1>4121C?
!958C:-B=H 
5GG=GH986M$1D895E938D5B
,95A%9589FCB4GIGH5=B56@9;FCKH<
5B8$1E4*;NB9>75B
)C@=7M5B5@MGHCB9B9F;M
$'(/% &',+
,<95IH<CFGC:H<=G;I=89KCI@85@GC@=?9HCH<5B?:CFH<9=F7CBHF=6IH=CBGF9DF9G9BH5

H=J9GC: *9G95F7<5B8"BBCJ5H=CB  B9F;M  @=A5H97H=CB5B89GD97=5@@M


 BJ=FCBA9BH 
%1(-,' *)!"%+" '
91>11B4?C?E1B4L?
%' - ","'
<<5>$5B35B
"+%"&*
,<9GC@9F9GDCBG=6=@=HM:CFH<97CBH9BHC:H<=GDI6@=75H=CB@=9GK=H<H<95IH<CFG "H8C9GBCH
>535CC1B9<IB5L53DD85?@9>9?>?6D85EB?@51>?==9CC9?>
+85EB?@51>?==9C

G=CB =G BCH F9GDCBG=6@9 :CF 5BM IG9 H<5H A5M 69 A589 C: H<9 =B:CFA5H=CB 7CBH5=B98
H<9F9=B

,$'
'&,&,+

(*
#1('!&,+&*'%%&,!'&+
, (-*('+&(',&,!$-+*+', !+-!

'&&,!&+-+,!&$&+%*,*'/,
'&&,!&
+-+,!&$ & +%*, *'/, 





/ 1+-+,!&$*'/, &+%*,*'/, 
'%($%&, ', *

*!'&+*!%('*,&,,'+-+,!&$*'/, 

*!'&$('$!1!&, '&,0,', -*'(


+,*,1
'/,'!&'*('*,+-+,!&$*'/, !&,'*!+

!&&'.,!'&/!, !&+-+,!&$&+%*,*'/,

 - *!'&$ ('$!1 +-((


('*,!& +%*, &
, -*!'&$('$!1+-(('*,!&+%*,&
+-+,!&$*'/,
+
-+,!&$ *'/, 

'!&&'.,!'&
'!&&'.,!'&

'!&&'.,!'&++&&!&'+-+,!&$
&+%*,*'/,


'(('*,-&!,!+'*'!&&'.,!'&+!&, 
*!'&$'&,0,

'/,',#,!'&'+,*!&'!&&'.,!'&
, *'- +%*,+(!$!+,!'&+,*,!+&
('$!1+-(('*,

-*, **!&'!&&'.,!'&





((&!0

!&,*,!&'+1+,%+*.!+!&,'+%*,
+(!$!+,!'&+,*,!+




/ 1*'+1+,%+*.!+!%('*,&,,'
'&'%!+-+,!&!$!,1

'(('*,-&!,!+'**!'&$&$'$
.$'(%&,+'&'+1+,%+*.!+

'/,',#,!'&'+1+,%+*.!+'*
+%*,&+-+,!&$*'/, 



-*, **!&'+1+,%+*.!+



*+* &!&&'.,!'&!&+-+,!&$&*1

'+,*!&*+* &!&&'.,!'&'*
+-+,!&$&*1

'(('*,-&!,!+'**+* &!&&'.,!'&+
!&+-+,!&$&*1!&, %%*+,,+
&*!'&+



'/,',#,!'&!&,*,!&*+* &
!&&'.,!'&!&,'+-+,!&$&*1!&+%*,
+(!$!+,!'&

-*, **!&+-+,!&$&*1

('++!$+1&*!+/!, ', *-!&!,!,!.+



$!+,'*.!,!'&+

,$'
!-*+

!-* 

, (',&,!$-+*+', !+-!

!-* 

+'%'&(,+!&, ,*$,,'+-+,!&$
*'/, 

!-*

*%/'*#'!&&'.,!'&'*+-+,!&$*'/,

!-*

'&&,!&*!'&$,'*+'*, (*'%',!'&'
+-+,!&$*'/, 

!-*

+-+,!&$*'/, !&-*&&*-*$*!'&+

!-*

!&'*('*,!&+-+,!&$*'/, '$+!&*!+
,!'&+

!-*

'!&&'.,!'&!&

!-*

, &!,+''!&&'.,!'&

!-*

**!*+,'&*!.*+''!&&'.,!'&

!-* 

(',&,!$+,# '$*+!&, '!&&'.,!'&


!&!,!,!.+

!-* 

('$!1%+-*+'*+-(('*,!&'!&&'.,!'&+

!-* 

0%($+'!&!,'*+,'-+!&'!&&'.,!'& 
(*'*%%+&(*'",+

!-* 

0%($+''+1+,%+*.!+

!-* 

**!*+,'&*!.*+''+1+,%+*.!+
.$'(%&,



!-* 

(',&,!$+,# '$*+!&'+1+,%+*.!
+-(('*,!&!,!,!.+

!-* 

0%($+'!&!,'*+,'-+!&(*'*%%+
&(*'",++-(('*,!&'+1+,%+*.!
.$'(%&,



!-* 

+,($&+-(('*,,''$+



!-* 

**!*+,'&*!.*+'+-+,!&$&*1
.$'(%&,

!-* 

(',&,!$+,# '$*+!&+-+,!&$&*1
+,*,!+&(*'*%%+



!-*

0%($+'!&!,'*+, ,&-+!&
+-+,!&$&*1(*'*%%+

!-*

', *('$!!+&!&!,!,!.+, ,+-(('*,!&*!+!&


(*'%',!&+-+,!&$&+%*,*'/, 



,$'
''(*,!+

+ 

$-+,*!&*&'%(&!+
,:7+G557EEA8GEFD;3NED77@,75:.3>>7K

+ 

(!-+ #
+GBBADF8ADF:7*7EAGD5788;5;7@5KA8+%E

+

%#!&&+%,
,:7!@6GEFD;3>+K?4;AE;E&7FIAD=FD3@E8AD?;@9/3EF7;@FA3*7EAGD57

+

,'/*+!*-$*'&'%1
.7@>AE53>7EGBF:7D36>7FAD36>73BBDA35:



+

,//,*+
,:7?AEF3?4;F;AGE+GEF3;@34>7-D43@(DA<75F;@7>9;G?



+

(*'%',!&+-+,!&$%,*!$+
L75:A?B3@K!@FDA6G57E@7I;A679D3634>734D;5E



+

!''&'%1!&!*$&
-@>A5=;@9F:775A@A?;5BAF7@F;3>A8E73I776



+

!' **'&+)-+,*,!'&
+I767@A887DE3>;?3F7A?B7@E3F;A@+7DH;57



+

, ('/*'%(+
!@H7EF;@9;@7A9D3B:;53>!@8AD?3F;A@+KEF7?E8AD+GEF3;@34;>;FK



+ 

*+('&+!$,!%*
3D57>A@37J57>E;@D77@(G4>;5(DA5GD7?7@F



+ 

, *&*'/, ,''$'0
-E7A8@H;DA@?7@F3>3F3;@*79;A@3>(>3@@;@9



+ 

*&*''+
3E7>8AEF7DE+GEF3;@34;>;FKF:DAG9:8;@3@5;3>;@57@F;H7E3@64G;>6;@9
D79G>3F;A@E



+ 

*&++!&/!&/.+&,!+
+5AF>3@6;@H7EFE;@'88E:AD7/;@63@6%3D;@7@7D9K

+ 

+-+,!&$-!$!&+
,:7D77@G;>6;@9E>GEF7D;@$AI7DGEFD;3E:AIE+G557EE



+ 

!*+,'&+&','/&
%A67>8ADF:7+GEF3;@34>77H7>AB?7@FA83;FK



+ 

, $,!'&*1$-+,*
D77@>F7D@3F;H78AD&ADF:7D@(A>3@6

+ 

%#!&-*&,*&+('*,%'*+-+,!&$
$;@=XB;@9GE7E ;A93E8AD;FE(G4>;5,D3@EBADF



+ 

,'/*+&*1+$+-!!&1
&3H3DD3*73BEF:77@78;FEA8!@H7EF?7@F;@*

!'&+
)

3?CICD5=C

*ECD19>12<5>5B7I

&*+

#?G IDHCA=@@=CB-*C:DI6@=7=BJ9GHA9BH
$549E= 
A=@@=CB

978 ACF9H<5BA=@@=CB

')&!+

*=1<<

$549E=

97

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

#1('!&,+&
*'%%&,!'&+

,C57<=9J9GC7=C
97CBCA=789J9@CDA9BH
5B87F95H9>C6G =H=G9GG9BH=5@HC7CBB97H
GIGH5=B56@9 5B8 GA5FH ;FCKH<  =B D5FH=7

I@5F  H<FCI;< H<9 F9G95F7< 5B8 =BBCJ5

H=CB GHF5H9;=9G :CF GA5FH GD97=5@=G5H=CB


)!*
!D9C1<C?9=@?BD1>DD?K>4@B13D931<
GC@IH=CBGHC89
7CID@=B;97CBCA=7;FCKH<
:FCA9BJ=FCBA9BH5@89;F585H=CB "BBCJ5

H=CB =G 5H H<9 7CF9 C: H<9 9::CFHG HC G<=:H
IFCD9G97CBCAM5B8GC7=9HMHCK5F8G5
B5C?EB3556K395>D1>4<?G 31B2?>6EDEB5

,<9 DFCACH=CB C: =BBCJ5H=CB :CF GIGH5=B

56@9;FCKH<F9EI=F9G5B<C@=GH=75DDFC57<
5B8 5 @CB;
H9FA D9FGD97H=J9 57FCGG H<9
DC@=7M7M7@9

=BJ9GHA9BHGH<5H5F9DFCJ=8986MH<9-G
F9;=CB5@DC@=7M
$1>179>7 ED8?B9D95C 1B5 5>3?EB
1754 D? @<135 CECD19>12<5 7B?GD8 1D
D85 3?B5 ?6 D859B ) *   +85I C8?E<4
1CC5CCD85B579?>1<9>>?F1D9?>@?D5>
D91<1>43?>C945B9>F5CD9>79>D851B51C
?653?9>>?F1D9?>53?CICD5=C5BF935C
1>4 CECD19>12<5 5>5B7I D1;9>7 9>D?
$&&2716 6+(,4 53(&,A& 564(1*6+5 $1'
G51;>5CC5C

&5BM C: H<9 GIGH5=B56=@=HM 7<5@@9B;9G


5F9 69MCB8 H<9 G7CD9 C: @C75@  F9;=CB5@
CF B5H=CB5@ 57H=CB  CF 9L5AD@9  7@=A5H9
381>75 ?B B53?>K7EB1D9?> ?6 B5C?EB35
%1D9?>1< 1>4 B579?>1< @?<93I=1;5BC
J5@I9 7<5=BG 75BBCH 69 H57?@98 K=H<=B
1B5 5>3?EB1754 D? <514 D85 45F5<?@
3?>K>542?E>41B95C1>4B5AE9B53?<<12?

=5>D?61>1=29D9?EC<?>7D5B=F9C9?>
F5H=CB69HK99BA5BMGH5?9<C@89FG57H=B;
?6C=1BD1>4CECD19>12<57B?GD8E>45B
5H8=::9F9BH@9J9@G 
D85B5C51B381>49>>?F1D9?>CDB1D5795C
> @B?=?D9>7 CECD19>12<5 7B?GD8 ?2:53
6?BC=1BDC@5391<9C1D9?>
D9F5CE>45BD85) * B579?>C1>4$5=25B
+85 6?3EC ?> DB1>C6?B=1D9F5 9>>?F1
*D1D5CC8?E<4
D9?> B5AE9B5C D85 5>7175=5>D ?6 ;5I
 7H=J9@MG99?GMB9F;=9GK=H<9L=GH=B;
CD1;58?<45BC9>1<<@81C5C6B?=@?<93I
B5H=CB5@5B8IFCD95B=B=H=5H=J9G5B8
45C97>D?=?>9D?B9>71>45F1<E1D9?>
*9;=CB5@ 5B8 @C75@ D9FGD97H=J9G <5J9
697CA9 ACF9 =ADCFH5BH H<5B 9J9F =B
:CGH9F=B; GIGH5=B56@9 ;FCKH<  =FGH@M
F9;=CBG <C@8 H<9 ?BCK@98;9 56CIH H<9
@C75@ =BBCJ5H=CB GMGH9AG 5B8 <5J9 H<9
75D57=HM HC AC6=@=G9 97CBCA=7 57HCFG
HCK5F8G 5 G<5F98 ;C5@  +97CB8@M  H<9M
5F9K9@@DCG=H=CB98HC89J9@CD5H<CFCI;<
IB89FGH5B8=B; C: @C75@ B5HIF5@ 5GG9HG
5B8 9BJ=FCBA9BH5@ 7<5@@9B;9G  ,<9F9 =G
>?0?>5 C9J5 KDC 1<<B539@56?BD8545F5<

CDA9BH 5B8 =AD@9A9BH5H=CB C: GHF5H9

;=9GH<5H7CBB97HGIGH5=B56@95B8GA5FH
7B?GD8 5138 B579?> >554C D? C59J5 9DC
CKB CDDCFHIB=HM K=H<=B H<9 GIDDCFH :CF

7H=J9@M 9LD@C=H H<9 CDDCFHIB=H=9G


:CF 7FCGG
F9;=CB5@ 5B8 =BH9FB5H=CB5@
7CCD9F5H=CB
7C
=BBCJ5H=CB 75B 69 =BHFC8I798 57FCGG
53?>?=93 C53D?BC 1>4 81C C97>9K31>D
DCH9BH=5@ HC 8F=J9 GHF5H9;=7  7FCGG
G97HCF5@
7C@@56CF5H=CB  7C
=BBCJ5H=CB 7CA9G =B
A5BM :CFAG =B7@I8=B; BCJ9@ CF =ADFCJ98
DFC8I7HG H97<BC@C;=9G G9FJ=79G A5B5;9

A9BH  CF;5B=G5H=CB5@ GHFI7HIF9G  =BGH=HI

H=CB5@5FF5B;9A9BHG5B8@=:9GHM@9CF69<5J

=CIF5@7<5B;9G ,<9D9FJ5G=J97<5F57H9FC:
97C
=BBCJ5H=CB9LDCG9G=HHCA5BM8=::9F9BH
65FF=9FG5B87<5@@9B;=B;DC@=7MH5F;9HG

(*,!$-!'**%&!&-, '*!,!+

)1D85BD81>6?3EC9>7?>9>49F94E1<?>5?66
CE@@?BD=51CEB5CB579?>C1>4$5=25B
*D1D5CC8?E<445F5<?@13?=@B585>C9F5
@?<93I =9H D? CE@@?BD 2?D8 D85 45=1>4
1>4CE@@<I?653?9>>?F1D9?>
7CGMGH9AG5F9:IB85A9BH5@HC5@@97CBC

A=9G 5B8 GC7=9H=9G 5B8 HC <IA5B K9@@

69=B;  7CGMGH9AG DFCJ=89 <56=H5HG 5B8


B5HIF5@ F9GCIF79G 5B8 D@5M 5 ?9M FC@9 =B
7@=A5H97<5B;9A=H=;5H=CB5B8585DH5H=CB 
,<9 =BBCJ5H=J9 IG9 C: B5HIF5@ 5GG9HG =G 5
65G=G:CFB9KGIGH5=B56@997CBCA=757H=J=

H=9GH<5H7CBHF=6IH9HCGA5FHGD97=5@=G5H=CB
5B8 H<9 89J9@CDA9BH C: 5 6=C
97CBCAM 
,<=G 5DDFC57< F9EI=F9G =BBCJ5H=J9 =895G
5B8 GC@IH=CBG  K<=7< 5F9 C:H9B 65G98 CB
F9G95F7<5B889J9@CDA9BH
>9>D57B1D9>753?CICD5=C5BF935C9>D?
) *  9D 9C 9=@?BD1>D D? D1;5 133?E>D
?6 CECD19>12<5 C?<ED9?>C 9>>?F1D9F5
=5D8?4C 1>4 5>DB5@B5>5EB91< 9451C
D81D B5<I ?> B5>5G12<5 B1D85B D81>
5H81ECD92<5 B5C?EB35C D81D 1B5 1F19<
12<59><?31<53?CICD5=C
)579?>C 1>4 $5=25BC *D1D5C C8?E<4
=1;5 D85 25CD EC5 ?6 29?53?>?=I
@B9>39@<5C 9> @B?=?D9>7 <?31< CECD19>
12<57B?GD8

&9A69F+H5H95B8F9;=CB &5BM&9A69F
+H5H9G 5B8 F9;=CBG <5J9 7CBG=89F56@9
?@@?BDE>9D95C D? 25>5KD 6B?= D85 9>D57B1

H=CBC:GIGH5=B56@99B9F;M=BHCH<9=F*"+ 
9BH5=@=B;5@GC5F5B;9C:CDDCFHIB=H=9G:CF
97CBCA=7 89J9@CDA9BH H<FCI;< 9LD5B

G=CBC:6IG=B9GG5B8F9G95F7<57H=J=H=9G=B
GIGH5=B56@99B9F;M5B8H<IGH<97F95H=CB
C: B9K >C6G   IF=B; H<9 B9LH :IB8=B;
D9F=C8  577CF8=B; HC H<9 CAA=GG=CBG
DFCDCG5@  5@@ F9;=CBG K=@@ <5J9 HC =BJ9GH
1 C97>9K31>D 1=?E>D ?6 ) 6E>49>7
=B GIGH5=B56@9 9B9F;M  !CK9J9F  BCH 5@@
B579?>C=978D81F5D85@?D5>D91<D?C@539K

75@@M=BJ9GH*:IB8=B;=BF9G95F7<5B8
=BBCJ5H=CB:CFGIGH5=B56@99B9F;MH<FCI;<
H<9 *"+ DFC79GG  '9J9FH<9@9GG  957<
&9A69F +H5H9 5B8 F9;=CB G<CI@8 5=A HC
75D=H5@=G9 CB H<9 :IB8=B; CDDCFHIB=H=9G
=B 5 GA5FH K5M 5B8 =BJ9GH =B 58J5B7=B;
=HG @C75@ F9G95F7<  89J9@CDA9BH  =BBCJ5

H=CB 5B8 H97<BC@C;=75@ 75D56=@=H=9G  ,<9


+HF5H9;=7 B9F;M ,97<BC@C;M +, )@5B 
5GH<9H97<BC@C;MD=@@5FC:H<9-9B9F;M
DC@=7M DFCJ=89GH<9:F5A9KCF?:CF&9A69F
+H5H9GHC5779@9F5H9H<989J9@CDA9BH5B8
FC@@
CIH HC H<9 A5F?9H C: 7CGH
7CAD9H=H=J9
5B8GIGH5=B56@99B9F;MH97<BC@C;=9G
D 9C B53?==5>454 D81D D85 $5=25B
*D1D5C 1>4 B579?>C 9>DB?4E35 1>
()A&,(16 32/,&; 0,: 2) 5733/; $1'
45=1>4 =51CEB5C D? CD9=E<1D5
B5C51B381>49>>?F1D9?>9>CECD19>12<5
5>5B7I 1>4 1<C? 5>CEB5 61F?EB12<5
)4$0(924. &21',6,215 $1' ()A&,(16
7?F5B>1>359>D89C1B51

*9G95F7< 5B8 =BBCJ5H=CB =B GIGH5=B56@9


9B9F;M =G H<9 ?9M HC 57<=9J=B; H<9 -
7@=A5H95B89B9F;MH5F;9H:CF  ?BCKB
5G H<9 4

  H5F;9H  5B8 5@GC H<9
H5F;9H:CF  C:5
 F98I7H=CB
=B75F6CB9A=GG=CBG ,<956=@=HMHCH5D=BHC
GIGH5=B56@9 9B9F;M H97<BC@C;M 89J9@CD

A9BHG J5F=9G 57FCGG H<9 - 6975IG9 C: >>?F1D9F5 13D9F9D95C 31> B1>75 6B?=
H<9 8=::9F9B79G =B B5HIF5@ 9B8CKA9BHG CD1D5?6D851BD)D?9>>?F1D9F59451C
5B8 97CBCA=7 7CB8=H=CBG  5G K9@@ 5G =B 9>3?>CDBE3D9?>=?29<9DI45C97>5>5B7I
H<9 H97<BC@C;=75@ 75D57=H=9G C: 957< - =1>175=5>D1>42EC9>5CC=?45<C

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

, (-*('+&(',&,!$
-+*+', !+-!

,<=G DF57H=75@ ;I=89 89ACBGHF5H9G H<5H


GIGH5=B56@9 5B8 GA5FH ;FCKH< 75B ;C
<5B8
=B
<5B8=B5@@IFCD95BF9;=CBG5B8
&9A69F +H5H9G  "H =G 697CA=B; =B7F95G

=B;@M 7@95F H<5H GIGH5=B56@9 97CBCA=7


;FCKH<75BCB@M699BGIF98=:F9;=CBG5B8
&9A69F+H5H9G5F9DF9D5F98HC:C@@CKH<9
DF=B7=D@9GC:9BJ=FCBA9BH5@GIGH5=B56=@=HM

,<9 ;I=89 :C7IG9G CB H<F99 H<9A5H=7


5F95G H<5H 5F9 D5FH=7I@5F@M F9@9J5BH HC
CECD19>12<57B?GD8
7C
=BBCJ5H=CB
7CGMGH9AGG9FJ=79G5B8
+IGH5=B56@99B9F;M

,<=G;I=895=AGHCDFCJ=895BGK9FGHCH<9
,<9;I=89G<CI@85@GC69IG9:I@HCB5H=CB5@ 
6?<<?G9>7AE5CD9?>C
F9;=CB5@5B8AIB=7=D5@DI6@=75IH<CF=H=9G
/<M8CGA5FH;FCKH<5B8GIGH5=B56@9 H<5H5F9F9GDCBG=6@9:CFH<9=AD@9A9BH5

;FCKH<7CAD@9A9BH957<CH<9F
H=CBC:DC@=7=9G=BH<95F95GC:GIGH5=B56@9
97C
=BBCJ5H=CB  B5HIF9 DFCH97

9B9F;M 
/<5H 75B 69 8CB9 =B H<9 F9;=CBG
HC 7CBB97H GA5FH 5B8 GIGH5=B56@9 H=CB  5;F=7I@HIF9  :CF9GHFM  =B8IGHFM 5B8
9BH9FDF=G9  97CBCA=7 89J9@CDA9BH 5B8
;FCKH<
9AD@CMA9BH5B8GC7=5@5::5=FG
!CKHCIG9H<9-G*9;=CB5@)C@=7M
HC 6CCGH =BBCJ5H=CB :CF GIGH5=B56@9 (H<9F DCH9BH=5@ IG9FG =B7@I89 @C75@ 5B8
F9;=CB5@ 57HCFG K<C 75B D@5M =ADCFH5BH
;FCKH<
FC@9G =B B5H=CB5@ 5B8 F9;=CB5@ 89J9@CD

,<9DIFDCG9C:H<98C7IA9BH=GHC5GG=GH
A9BH 5B8 GA5FH GD97=5@=G5H=CB GHF5H9

H<9 &5B5;=B; IH<CF=H=9G &G C: H<9


;=9G  ,<9G9 5F9 F9DF9G9BH5H=J9G :FCA
IFCD95B *9;=CB5@ 9J9@CDA9BH IB8
9>4ECDBI1>42EC9>5CC5CK>1>35C53D?BC
* =B 9>D57B1D9>7 CECD19>12<5
F9G95F7< CF;5B=G5H=CBG 5B8 IB=J9FG=H=9G 
7B?GD8 ?2:53D9F5C 9>D? D859B B5C51B38
=BBCJ5H=CB GIDDCFH 5;9B7=9G 5B8 7=J=@
1>4 9>>?F1D9?> CDB1D5795C 6?B C=1BD
GC7=9HM;FCIDG
C@5391<9C1D9?>?B) * 6?BC8?BD
 ,) +'&+%+ #,*)*&+ *
, 

(*,!$-!'**%&!&-, '*!,!+

+85, 
G9<<85<@Q

$% %,+&) + *&)&'C+&


GG=GH=B=BH9;F5H=B;GIGH5=B56@9;FCKH<=BHC*"+
!9@DA5L=A=G9H<9IG9C:*:IB8G
"89BH=:MB9K=BBCJ5H=J9DF57H=79G5B8@9GGCBG@95FB98
%95FB56CIHCH<9FIG9:I@F9GCIF79GH<5H75B69<9@D:I@=BDFCACH=B;*"+5B8
GIGH5=B56@9;FCKH<=BF9;=CBG
 * &%$")*+&
%95FB<CKHCDFC8I79GMB9F;=9G69HK99BGA5FH5B8GIGH5=B56@9;FCKH<;C5@G
%95FB56CIHGI779GG:I@9LD9F=9B79G=BCH<9F-F9;=CBG
=B8DCGG=6@9GMB9F;=9G69HK99BF9;=CB5@=B=H=5H=J9G5B8CH<9F=B=H=5H=J9G
-B89FGH5B8 H<9 F5B;9 C: DC@=7M =BGHFIA9BHG H<5H 5F9 5J5=@56@9 HC DFCACH9
GIGH5=B56@95B8GA5FH;FCKH<
)')*%++ -*&,* %**+&
=G7CJ9FH<9CDDCFHIB=H=9GC::9F986M7C<9G=CBDC@=7M:IB8=B;HCGIDDCFH;F99B
6IG=B9GG
&5?957CBGHFI7H=J97CBHF=6IH=CBHCH<9F95@=G5H=CBC:*"+
&5L=A=G9H<9GC7=5@5B89BJ=FCBA9BH5@=AD57HGC:;F99B6IG=B9GG
 %% %&)% *+ &%*+&
"89BH=:M7C
:IB8=B;CDDCFHIB=H=9G:CFGIGH5=B56@9DFC>97HG ;F99B6IG=B9GG5B8
=B:F5GHFI7HIF9
&5L=A=G9H<9GC7=5@5B89BJ=FCBA9BH5@=AD57HGC:GIGH5=B56@9=BJ9GHA9BH
 - #*& +0&)% *+ &%*+&
"89BH=:MH<9=FFC@9G=BDFCACH=B;GC7=5@ 97CBCA=75B89BJ=FCBA9BH5@K9@@69=B;
=BH<9F9;=CB
=B8GMB9F;=9G5B8DCH9BH=5@D5FHB9FG<=DGK=H<DI6@=75B86IG=B9GG57HCFG
&5?957CBGHFI7H=J97CBHF=6IH=CBHCH<97CB79DH=CB5B8=AD@9A9BH5H=CBC:*"+
)*)&)% *+ &%*%,% -)* + *+&
-B89FGH5B8H<9CDDCFHIB=H=9GC::9F986MH<9*"+5B8H<9*
"89BH=:MH<9=FFC@9G=BF9;=CB5@DFC>97HG5B8DFC;F5AA9G
%=B?F9G95F7<K=H<DF57H=79
"B7F95G9H<9F95@
@=:9=AD57HC:F9G95F7<6MHF5BG@5H=B;F9G95F7<F9GI@HG=BHCDF57H=79


&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

'&&,!&+-+,!&$&
+%*,*'/, 

.0*,*+ %#
)&.+%*$)+
)&.+&$'#$%+
&+)
:FFB

75 7GDAB3 7G

7GDAB7
;@67J27@ :F?

5ADKE ,:7
@G?47DA8"A4E67B7@67@F
A@F:7@H;DA@?7@F3@6
*7EAGD5788;5;7@5K
;?BDAH7?7@FE
:FFB

75 7GDAB3 7G

7@H;DA@?7@F
7@H75A
<A4E

;@67J :F?

 '% 
,AI3D6E3
<A4D;5:D75AH7DK
5A??G@;53F;A@
:FFB

75 7GDAB3 7G
EA5;3>

>A4+7DH>7F6A5!6 >
3@9!67@

 +/  


JB>A;F;@9F:77?B>AK?7@F
BAF7@F;3>A89D77@9DAIF:
:FFB

75 7GDAB3 7G
EA5;3>

>A4+7DH>7F6A5!6 >
3@9!67@

&5BM 7CIBHF=9G <5J9 =B7F95G=B;@M 699B


:57=B; H<9 7<5@@9B;9G C: 7@=A5H9 7<5B;9 
5 89H9F=CF5H=B; 9BJ=FCBA9BH 5B8 F98I798
5J5=@56=@=HMC:B5HIF5@F9GCIF79G ,<97IFF9BH
K>1>391<3B9C9C81C9>3B51C54D85>5546?B1
F97CBG=89F5H=CBC:H<9HF58=H=CB5@97CBCA=7
AC89@G H<5H 9BH5=@ 9J9F
=B7F95G=B;  IBGIG

H5=B56@9 7CBGIADH=CB  ,<=G =G D5FH=7I@5F@M


F9@9J5BH HC H<9 IFCD95B 97CBCAM  K<=7<
=G 9LD9F=9B7=B; AI@H=D@9 7<5@@9B;9G HC
GIGH5=B=B;DFCGD9F=HM5B897CBCA=7;FCKH<
"B H<9=F 5HH9ADHG HC F9J=J9 =B8IGHFM  >C6
A5F?9HG 5B8 7CAD9H=H=J9B9GG  IFCD95B
;CJ9FBA9BHG 5F9 G99?=B; ACF9 =BBCJ5

H=J9 5B8 GIGH5=B56@9 K5MG C: DFCACH=B;


97CBCA=757H=J=H=9G K<=@GHH57?@=B;9BJ=FCB

A9BH5@7<5@@9B;9G ,<IG H<9F9=G5;FCK=B;


5K5F9B9GG H<5H D@5B9H 95FH< =G 6CH< H<9
D=@@5FC:@=:95B8H<9D=@@5FC:H<997CBCAM

,<9 - <5G G9H CIH =HG J=G=CB :CF H<9


97CBCAM =B H<9 IFCD9    GHF5H9;M
,<=G GHF5H9;M 7CB:FCBHG GHFI7HIF5@
K95?B9GG9G 6M DFCDCG=B; DFC;F9GG CB
D8B55=EDE1<<IB59>6?B39>7@B9?B9D95CC=1BD
;FCKH< GIGH5=B56@9;FCKH<5B8=B7@IG=J9
;FCKH< "HGHF9GG9GH<9B998:CF5HF5BG=H=CB
D?G1B4C 1 <?G 31B2?> B5C?EB35 56K395>D
97CBCAM  5G H<9 B9K D5F58=;A :CF
GIGH5=B56@9;FCKH< "BBCJ5H=CB=GG99B5G
H<9?9MHCGI77998=B;=BH<989
7CID@=B;
C: ;FCKH< :FCA 9BJ=FCBA9BH5@ 89;F585

H=CB5B8F9GCIF797CBGIADH=CB "H=G5@GC
5?9MHCDIG<=B;GA5FH;FCKH<5B8H<9F9

:CF9 HC9B56@=B;GIGH5=B56@9;FCKH<5B8
GA5FH;FCKH<HCDFC;F9GG<5B8
=B
<5B8 

+9J9F5@ GHI8=9G <5J9 89ACBGHF5H98 H<5H


9>F5CD9>7 9> B5C?EB35 56K395>3I =51CEB5C
5B8 H<9 9BJ=FCBA9BH <5G ;9B9F5H98 >C6G
5B8 GIGH5=B98 97CBCA=7 ;FCKH<  CF
9L5AD@9  >C6 ;FCKH< =B H<9 G97HCFG C: H<9
'5H=CB5@ 5B8 =BH9FB5H=CB5@ DC@=7M
A5?9FG ;F99B97CBCAM=BH<9-<5G699BDCG=H=J9
<5J9699B58CDH=B;GHF5H9;=9G:CFGIGH5=B
H<FCI;<CIH H<9 F979GG=CB 5B8 =G :CF975GH
56@9 89J9@CDA9BH  ;F99B ;FCKH<  ;F99B HCF9A5=BEI=H9GHFCB; 5G98CB8=::9F9BH
97CBCAM  6=C
97CBCAM 5B8 GIGH5=B56@9 AC89@G  6M    H<9 =AD@9A9BH5H=CB C:
DFC8I7H=CB 5B8 7CBGIADH=CB )@95G9 9>49F94E1< 5>5B7I 56K395>3I =51CEB5C
G99 =;IF9   ,<9 7CAACB 7<5@@9B;9 7CI@8@958HCHKCA=@@=CB;F99B>C6G69=B;
:CF GIGH5=B56@9 ;FCKH< =G HC 57<=9J9 5 7F95H98CFF9H5=B98 K<=@GHH<9>C6DCH9BH=5@
89
7CID@=B; C: 97CBCA=7 ;FCKH< :FCA C:H<989J9@CDA9BHC:H<9F9B9K56@99B9F;M
G97HCF=G9GH=A5H985HH<F99A=@@=CB>C6G
9BJ=FCBA9BH5@89;F585H=CB 

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

*ECD19>12<55F5<?@=5>D=GP89J9@CDA9BHH<5HA99HGH<9B998GC:H<9DF9G9BH
K=H<CIH 7CADFCA=G=B; H<9 56=@=HM C: :IHIF9 ;9B9F5H=CBG HC A99H H<9=F CKB B998G R
*ECD19>12<5 45F5<?@=5>D 9C 1 7B1>4 @1B1497= 21C54 ?> D8B55 @9<<1BC 53?>?=93
89J9@CDA9BH  GC7=5@ 89J9@CDA9BH 5B8 9BJ=FCBA9BH5@ 7CBG9FJ5H=CB  &99H=B; H<9
B998GC:H<9:IHIF989D9B8GCB<CKK9@@K965@5B79GC7=5@ 97CBCA=75B89BJ=FCB

A9BH5@C6>97H=J9GK<9BA5?=B;897=G=CBGHC85M
B55>B?GD8=G57CB79DHH<5H<5G699B89J9@CD98HC7CAD@9A9BHH<97CB79DHC:
+IGH5=B56@99J9@CDA9BH  F99B FCKH<5=AGHCG<=:HH<9D5HH9FBC:97CBCA=7;FCKH<
HCK5F8G5B9BJ=FCBA9BH5@@M
:F=9B8@MCB9 ,<97CB79DHK5GD=CB99F986M$CF95 K<=7<
9A6F57985J=G=CBC:5%CK5F6CB  F99B FCKH<&C89@:CF:IHIF997CBCA=7;FCKH< 
IFF9BH@M H<97CB79DH<5G699B58CDH986MA5BMCH<9F7CIBHF=9G5B8=G69=B;DFCACH98
6MH<9(5B8H<9/CF@85B? ,<9@5HH9FDFCACH9GH<99LH9B8987CB79DHC:4 F99B
5B8"B7@IG=J9 FCKH<H<5H588F9GG9GH<9CDDCFHIB=H=9G K<=7<5F95J5=@56@9HC89J9@

CD=B;7CIBHF=9GHCH5?9D5FH=BH<9;F99B=B;C:H<9=F97CBCA=9G
+85B55>3?>?=I=GH<97CB79DH89J9@CD986M-')
H<9 F99B7CBCAM
"B=H=5H=J9
+85B55>3?>?=I9C45K>541C1>53?>?=ID81DB5CE<DC9>9=@B?F54
8E=1>G5<< 259>71>4C?391<5AE9DIG89<5C97>9K31>D<IB54E39>75>F9B?>=5>D1<B9C;C
5B8 97C@C;=75@ G75F7=H=9G  "B =HG G=AD@9GH 9LDF9GG=CB  5 F99B 7CBCAM 75B 69
D8?E78D?61C?>5D81D9C<?G31B2?>B5C?EB3556K395>D1>4C?391<<I9>3<EC9F5
!DC
;FCKH< =B =B7CA9 5B8 9AD@CMA9BH =G 8F=J9B 6M DI6@=7 5B8 DF=J5H9 =BJ9GHA9BHG 
K<=7< F98I79 75F6CB 9A=GG=CBG 5B8 DC@@IH=CB  9B<5B79 9B9F;M 5B8 F9GCIF79
56K395>3I1>4@B5F5>DD85<?CC?629? 49F5BC9DI1>453?CICD5=C5BF935C

 ,:7DG@6F>3@6

A??;EE;A@D7BADFA8 
M'GDA??A@GFGD7N


 III A756 AD9
9D77@9DAIF:


 :FFB

9A IAD>643@= AD9


 III G@7B AD9
9D77@75A@A?K


 :FFB

75 7GDAB3 7G

D7E73D5:

+85*ECD19>12<5B?GD87CB79DH=G5DD@=98=BH<9-7CBH9LH +IGH5=B56@9 FCKH<


9C?>5?6D8B55@B9?B9DI1B51C9>D85EB?@5  CDB1D57I
!D81C13<51B<I45K>54
:C7IGCBH<9DFCACH=CBC:H<97CAD9H=H=J9B9GGC:H<9-97CBCAM =B7@I8=B;75D=H5@

=G5H=CBCB=HG@9589FG<=D=B;F99BH97<BC@C;=9G DFCACH=B;GA5FH;F=8G =ADFCJ=B;


D85 2EC9>5CC 5>F9B?>=5>D 5C@5391<<I 6?B *%C 1>4 9>LE5>39>7 3?>CE=5B
7<C=79 +IGH5=B56@9 FCKH<=G5@GC56CIH5HH5=B=B;9BJ=FCBA9BH5@C6>97H=J9GGI7<
1C 453B51C9>7 D85 31B2?> 9>D5>C9DI ?6 D85 53?>?=I @B?=?D9>7 D85 56K395>D 1>4
GIGH5=B56@9IG9C:F9GCIF79G DFCH97H=B;H<99BJ=FCBA9BH F98I7=B;9A=GG=CBG5B8
DF9J9BH=B;@CGGC:6=C
8=J9FG=HM
*=1BD B?GD8 K<=7< =G 5BCH<9F DF=CF=HM C: H<9 IFCD9    GHF5H9;M  A95BG
=ADFCJ=B;H<9-GD9F:CFA5B79=B98I75H=CB F9G95F7< =BBCJ5H=CB5B8H<98=;=H5@
C?395DI
+89C9CD?254?>52I5>3?EB179>7@5?@<5D?<51B>CDE4I1>4E@41D5D859B
G?=@@G=ADFCJ=B;57589A=79L79@@9B795B8H<9D9F:CFA5B79C:IB=J9FG=H=9G7F95H=B;
B9KDFC8I7HG G9FJ=79GH<5H;9B9F5H9;FCKH<5B8>C6G5B8<9@DHC588F9GGGC7=5@
7<5@@9B;9G5B88=::IG=B;=B:CFA5H=CB5B87CAAIB=75H=CBH97<BC@C;=9G
>3<EC9F5B?GD8 K<=7<=GH<9H<=F8D=@@5FC:IFCD9  7CBHF=6IH9GHC;FCKH<=B
IFCD9G9AD@CMA9BHF5H9 ,<=G9BH5=@GACF95B869HH9F>C6G 9GD97=5@@M:CFKCA9B 
MCIB; D9CD@9 5B8 C@89F KCF?9FG  5B8 <9@D=B; D9CD@9 C: 5@@ 5;9G 5BH=7=D5H9 5B8
A5B5;97<5B;9H<FCI;<=BJ9GHA9BH=BG?=@@G5B8HF5=B=B; "H5@GC=BJC@J9GAC89FB

9C9>7<12?EB=1B;5DC1>4G5<61B5CICD5=C1>45>CEB9>7D81DD8525>5KDC?67B?GD8
F957<5@@D5FHGC:H<9-
+85 9?53?>?=I 7CB79DH =B H<9 - :C7IG9G CB A5=BH5=B=B; 5B8 7F95H=B;
97CBCA=7 ;FCKH< 5B8 >C6G =B FIF5@  7C5GH5@ 5B8 =B8IGHF=5@ 5F95G  F98I7=B; :CGG=@
:I9@89D9B89B795B8=ADFCJ=B;H<997CBCA=75B89BJ=FCBA9BH5@GIGH5=B56=@=HMC:
DF=A5FMDFC8I7H=CB5B8DFC79GG=B;=B8IGHF=9G ,<9IFCD9  +HF5H9;M75@@G:CF
56=C
97CBCAMHC697CA95?9M9@9A9BH=B57<=9J=B;GA5FH5B8;F99B;FCKH<=B
IFCD9 ,<9-=C
97CBCAM+HF5H9;M5B8=HG7H=CB)@5B5=AHCD5J9H<9K5MHC
1=?B59>>?F1D9F5B5C?EB3556K395>D1>43?=@5D9D9F5C?395DID81DB53?>39<5C6??4
G97IF=HMK=H<H<9GIGH5=B56@9IG9C:F9B9K56@9F9GCIF79G:CF=B8IGHF=5@DIFDCG9G 
K<=@GH9BGIF=B;9BJ=FCBA9BH5@DFCH97H=CB

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

%%&-+ &%. + %
*,*+ %#%
*$)+)&.+
G =B8=75H98 56CJ9  =BBCJ5H=CB =G H<9
:57HCF H<5H A5?9G =H DCGG=6@9 HC 6=B8
9BJ=FCBA9BH5@ 5B8 97CBCA=7 ;C5@G
HC;9H<9F 5B8 @=B? H<9A HC GIGH5=B56@9
;FCKH<5B8GA5FH;FCKH< 

5ADKE ,:7
@G?47DA8"A4E67B7@67@FA@
F:7@H;DA@?7@F3@6*7EAGD57
88;5;7@5K;?BDAH7?7@FE
:FFB

75 7GDAB3 7G

7@H;DA@?7@F
7@H75A
<A4E

;@67J :F?

,:78D3?7IAD=:3E477@
67H7>AB764KF:77JB7DFEA8
F:7!@6;3@F:;@=F3@=!!!,
7@FD7A8J57>>7@578AD
+GEF3;@34>77H7>AB?7@F
III EGEF3;@34>767H7>AB?7@F ;@

(B H<9 CH<9F <5B8  H<9 ;@C65@ 89A5B8


:CF 97C
=BBCJ5H=J9 5B8 9BJ=FCBA9BH5@
H97<BC@C;=9G  97C
:F=9B8@M DFC8I7HG 5B8
G9FJ=79G 5B8 ;F99B 5B8 GIGH5=B56@9
89G=;B=895G=G9LD97H98HC5779@9F5H95H
5<=;<9FF5H9=BH<97CA=B;M95FG ,<9F9
=G 5 7CBG9BGIG H<5H H<9 ;@C65@ A5F?9H 
7IFF9BH@M9GH=A5H985HZ HF=@@=CB5M95F 
7CI@8 5@ACGH 8CI6@9 K=H< H<9 5J9F5;9
9GH=A5H9:CF  69=B;5FCIB8ZHF=@@=CB
5 M95F  &5BM - &9A69F +H5H9G 5B8
B579?>C31>25>5KDD8B?E785>D5B9>7D89C
9LD5B8=B; A5F?9H  ,<IG  =H =G =ADCFH5BH
H<5H H<9M IF;9BH@M DIFGI9 H<9 89J9@CD

A9BH C: =BBCJ5H=J9 5B8 9BHF9DF9B9IF=5@


75D57=H=9G =B 5F95G GI7< 5G 97C
=BBCJ5

H=CB  97CGMGH9A G9FJ=79 89J9@CDA9BH 


GIGH5=B56@9 9B9F;M 5B8 @CK CF N9FC

75F6CBAC6=@=HM5B85@GCC:6=C
97CBCAM
G97HCFG  GI7< 5G GIGH5=B56@9 5;F=7I@HIF9
5B8HCIF=GA

>>?F1D9?>5>3?=@1CC5C>?D?><I>5G
?B9=@B?F54@B?4E3DC1>4@B?35CC5C
2ED 1<C? >5G C5BF935C =1B;5D9>7
2B1>49>71>445C97>=5D8?4C1>4>5G
6?B=C ?6 2EC9>5CC ?B71>9C1D9?> 1>4
3?<<12?B1D9F51BB1>75=5>DC
"BBCJ5H=CB =G =B7F95G=B;@M IB89FGHCC8
5G9JC@J=B;=B5BCD9BGMGH9A =BK<=7<
8=::9F9BH 57HCFG 7C@@56CF5H9 5B8 =BH9F57H 
)I6@=7 GIDDCFH :CF =BBCJ5H=CB B998G HC
585DH HC H<=G GMGH9A=7 D9FGD97H=J9 5B8
7CA6=B99::CFHGHCGIDDCFHF9G95F7<5B8
H97<BC@C;MK=H<H<CG9HC89J9@CD7C@@56C

F5H=CB69HK99BGH5?9<C@89FG 

=;IF9  DF9G9BHG 5 :F5A9KCF? H<5H 75B


<9@D ;CJ9FBA9BHG 5B8 CH<9F 57HCFG HC
89J9@CD 5 J=G=CB C: <CK 8=::9F9BH HMD9G
C:=BBCJ5H=CB75B7CBHF=6IH9HC97CBCA=7
;FCKH< H<5H =G GA5FH  GIGH5=B56@9 5B8
@CB;
H9FA "H75B5@GC<9@DHC9GH56@=G<
5DDFC57<9G 5B8 F9@5H98 DC@=7M DF=CF=H=9G
:CFACJ=B;HCK5F8GGIGH5=B56@997CBCA=7
+IGH5=B56@95B8GA5FH;FCKH<5F9=B7F95G
;FCKH<  ,<9 :F5A9KCF? =G 65G98 CB H<9
=B;@M69=B;G99B5GHKCG=89GC:H<975A9 DF9A=G9 H<5H =BBCJ5H=CB :CF GIGH5=B56@9
7C=B *"+75B5@GCD@5M5B=ADCFH5BHFC@9 ;FCKH< G<CI@8 7F95H9 97CBCA=7  GC7=5@
=B89J9@CD=B;AI@H=
@9J9@;CJ9FB5B79:CF 5B89BJ=FCBA9BH5@J5@I9 
=BH9;F5H98 =BBCJ5H=CB DC@=7=9G  K<9F9 ,<9:F5A9KCF?GI;;9GHGH<5H;CJ9FBA9BHG
GIGH5=B56@9;FCKH<H5?9GDF98CA=B5B79  75B IG9 H<9 :C@@CK=B; :CIF 5DDFC57<9G
"B 588=H=CB  H<9M G<CI@8 @=B? HC;9H<9F 9> =?F9>7 D?G1B4C CECD19>12<5 7B?GD8
G9J9F5@ DC@=7M 8CA5=BG 5B8 DFCACH9 5B </+->3@/ 38-</7/8>+6 <+.3-+6 +8. ><+8=
IB89FGH5B8=B; C: CB9 F9;=CBG GHF9B;H<G 09<7+>3@/  +CA9 ;CJ9FBA9BHG IG9 ACF9
=BF9@5H=CBHCH<CG9C:CH<9FF9;=CBG5B8C: H<5B CB9 5DDFC57< 6IH H<9 H9B89B7M C:
H<9 DCGG=6@9 ;5=BG HC H<5H F9;=CB  K<=7< 6CH< ;CJ9FBA9BHG 5B8 6IG=B9GG9G =G HC
A=;<H695EI=F98H<FCI;<=BH9F
F9;=CB5@CF :C@@CK 9=H<9F 5 F957H=J9 CF =B7F9A9BH5@
HF5BG
B5H=CB5@7CCD9F5H=CB
5DDFC57<HC;F99BHF5BG=H=CB

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



 



$!
%!! 
& !#
"

!&"!

 

  

 

 !#
!$

&

!$!
$!
$
"!&!!#
 " #!
  & !
#"

"! !


 " #
!

 




+AGD57!!!,7@FD7A8J57>>7@578AD+GEF3;@34>77H7>AB?7@FH;3!!+ 

    

,<9*,". K<=7<=GH<995G=9GH5B8ACGH7CAACB5DDFC57< BCFA5@@M=BJC@J9GA=BCF7<5B;9G


5DDFC57< =B @9;=G@5H=CB 5B8 =ADFCJ9A9BHG =B 7CAD@=5B79  HC;9H<9F K=H< 5 @=A=H98 9AD<5G=G
CB F9GCIF79
IG9 CDH=A=G5H=CB  ,<=G 5DDFC57< =G =ADCFH5BH =B 9BGIF=B; H<5H 9BJ=FCB

=5>D1<@5B6?B=1>351>456K395>3I1B53?>CD1>D<I9=@B?F9>72ED<9DD<553?>?=93F1<E5
=G ;9B9F5H98  5B8 @=A=H98 =BBCJ5H=CB C77IFG  CF 9L5AD@9  H=;<H9B=B; K5H9F EI5@=HM
F9EI=F9A9BHG75B@958HC=BJ9GHA9BH=BK5GH9K5H9FHF95HA9BH:57=@=H=9G5B8K<=@9H<=G
9B56@9G47@95B=B;ID =H8C9GBCH588F9GGH<9ACF9:IB85A9BH5@DFC6@9AC:;FCK=B;
K5GH9K5H9FGHF95AG ":;CJ9FBA9BHGCF6IG=B9GG9G5F9=BHFC8I7=B;GI7<5B5DDFC57<
6?BD85KBCDD9=5D85>9D31>45=1>4C97>9K31>D9>F5CD=5>DC3B51D5>5G=1B;5DC1>4
588=H=CB5@ >C6G  !CK9J9F  =B A5BM CH<9F G=HI5H=CBG H<=G =G C:H9B 5 6IG=B9GG
5G
IGI5@
5DDFC57<H<5H:5=@GHC7F95H9B9K>C6GCF9LHF5J5@I9

,<9"'*&',% =B7@I89G DC@@IH=CB DF9J9BH=CB  =ADFCJ9A9BHG =B H<9 =B:F5GHFI7HIF9 C: DI6@=7 HF5BG

5DDFC57< DCFH 5B8 DFC8I7H GH9K5F8G<=D  ,<=G 5DDFC57< 588F9GG9G =GGI9G C: 7CGH  F=G? 5B8
75F6CB:CCHDF=BHF98I7H=CB5B8 =ADCFH5BH@M 7F95H9G569HH9FIB89FGH5B8=B;C:K<5H
CECD19>129<9DI13DE1<<I=51>C
?B5H1=@<5?B71>9317B93E<DEB5?B=1D5B91<56K395>3I
=ADFCJ9A9BHG =B 7CAD5B=9G <9@D HC F98I79 =AD57HG  K5GH9 5B8 9A=GG=CBG  K<=@9
G=AI@H5B9CIG@MF98I7=B;7CGHF=G?5B8GH5?9<C@89FF9G=GH5B79 &CGH;CJ9FBA9BHG5B8
6IG=B9GG9G IG9 H<=G 5DDFC57<  5G =B7F9A9BH5@ 7<5B;9G 5F9 H<9 ACGH 7CGH
9::97H=J9
=ADFCJ9A9BHG  "ADFCJ9A9BHG 697CA9 7CAA9F7=5@=G98 EI=7?@M 5B8 J5@I9 =G ;9B9F

5H98=BH<9G<CFH
H9FA 
*98I7=B; K5GH9 5B8 9A=GG=CBG =G 7FI7=5@  M9H H<9 9::97HG C: <=;< 97CBCA=7 ;FCKH<
31>61B?EDG59781>ICE2CD1>D91<5>F9B?>=5>D1<25>5KDC6B?=D85C5B54E3D9?>C
!>3B5

A9BH5@ GC@IH=CBG 5F9 =ADCFH5BH 6IH H<9M K=@@ B9J9F CJ9F7CA9 H<9 A5>CF 7<5@@9B;9G 
GI7<5G9BGIF=B;5;CC8EI5@=HMC:@=:9:CF5B9J9F
=B7F95G=B;;@C65@DCDI@5H=CB=B5
F9GCIF79G75F79D@5B9H "B7F9A9BH5@GC@IH=CBGCB@MDF9D5F9H<9KCF@8:CF75F6CB5B8
G1D5B 56K395>3I
 %?F9>7 25I?>4 9>3B5=5>D1< 9=@B?F5=5>DC D?G1B4C DB1>C6?B=1D9F5
GC@IH=CBG=GH<9CB@MK5MC:7F95H=B;H<9J5@I9B979GG5FM:CFGIGH5=B56@9;FCKH< 

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

,<9*"%
5DDFC57<

75BDFC8I795;FCKH<HF5>97HCFMH<5HK=@@DFCD9@97CBCA=9GHCK5F8GGIGH5=B56@9J5@I9
1>431>1<C?=1;51C97>9K31>D@?C9D9F549665B5>359>C?395DI
+89C1@@B?1386?3EC5C
DC@=7=9G 5B8 9::CFHG CB G<=:H=B; HF58=H=CB5@ K5MG C: H<=B?=B; 56CIH GC7=5@ 5B8 9BJ=FCB

A9BH5@ =GGI9G 5B8 CB 7<5B;=B; =BGH=HIH=CBG 5B8 :F5A9KCF?G  *58=75@ =BBCJ5H=CBG 5F9
65G98CBH97<BC@C;=75@7<5B;95B85@H9FCFF9D@579HF58=H=CB5@GC@IH=CBG ,<9M7F95H9
69HH9F5@H9FB5H=J9GK=H<=B9L=GH=B;=B8IGHF=9G6IH8CBCHB979GG5F=@M7<5B;9H<9G9=B8IG

HF=9G:IB85A9BH5@@M CF=BGH5B79 H<99@97HF=775FA5M695;CC85@H9FB5H=J9HC:CGG=@


6E5< @?G5B541ED?=?29<5C2ED9D4?5C>?DB5C?<F5D85@B?2<5=C?6DB16K33?>75CD9?>?B
H<9B998HCDFCJ=89ACF9D5F?=B;GD579G5B8@5F;9FFC58B9HKCF?G

,<9,*'+
75B<9@DHCA5?957CAD@9H9G<=:H=BH<9D5F58=;ACBK<=7<7IFF9BHD5HH9FBGC:DFC8I7

(*&,"('% H=CB 7CBGIADH=CB KCF?=B;5B8@=J=B;5F965G98 "H9B56@9GD9CD@9HCG9969MCB8H<9


5DDFC57< 9L=GH=B;<CF=NCBGC:69GHDF57H=79G5B8H<9ACGH58J5B798H97<BC@C;=75@=BBCJ5H=CBG 
,<=G5DDFC57<=G56CIHH<9:IHIF95B8<CKHCG<5D9=H "BHF5BGDCFH H<9HF5BG:CFA5H=J9
GC@IH=CB =G HC H<=B? AC6=@=HM =BGH958 C: HF5BGDCFH  CF 9L5AD@9  H<=G A=;<H @958 HC H<9
=BHFC8I7H=CBC:B9KAC6=@=HMG7<9A9GGI7<5G7M7@=B;5B875F 6=?9G<5F=B; F5H<9FH<5B
G=AD@M9LD5B8=B;H<9IG9C:7@95B9FJ9<=7@9G "H=GH<=GHMD9C:7<5B;9=BH<9H<CI;<H
DFC79GGH<5H7F95H9GH<CG9GC@IH=CBGH<5H5F9HF5BG:CFA5H=J9 
,F5BG:CFA5H=J9=BBCJ5H=CBK=@@H5?9D@579:5F69MCB8H<96CIB85F=9GC:CB97CAD5BM
CF CF;5B=G5H=CB 5B8 K=@@ F9EI=F9 H<9 HF5BG:CFA5H=CB  F9D@579A9BH CF 9GH56@=G<A9BH C:
7CAD@9A9BH5FM=B:F5GHFI7HIF9G ,<9B9LH:CIF897589GK=@@K=HB9GGACF9;CJ9FBA9BHG
5B86IG=B9GG9G9A6F57=B;H<=G5DDFC57< "HK=@@=BJC@J95:C7IGCBH<97CA6=B5H=CBC:
6=C
A=A=7FM5B8B5HIF5@A5H9F=5@F9;9B9F5H=CB 5B8K=@@7F95H9B9KA5F?9HGK=H<B9LH

;9B9F5H=CBGC@IH=CBG5B8B9KG97HCFG5B8>C6CDDCFHIB=H=9G

) &%*)
$'&)+%++&
*,*+ %#)&.+

;A?;?;5DK;E3@
;@@AH3F;A@?7F:A6F:3FE77=E
EGEF3;@34>7EA>GF;A@E4K
EFG6K;@9@3FGD7NE47EF;673E
3@6F:7@;?;F3F;@9F:7E7
67E;9@E3@6BDA57EE7EFAEA>H7
:G?3@BDA4>7?E7 9 3EA>3D
57>>;@EB;D764K3>738 %AD7
;@8AD?3F;A@3@67J3?B>7E3D7
A@:FFB

4;A?;?;5DK;@EF;FGF7 AD9

 -&  

 GEE>7D3@6"3?7E 

)579?>1<53?>?=95C1B5;5ICD?9>>?F1
D9?> 1>4 7B?GD8 ,<9F9 =G 5 K95@H< C:
9J=89B795B8DF57H=75@9L5AD@9G K<=7<
3?>KB=C D81D B579?>C 1>4 39D95C @<1I 1>
=ADCFH5BH FC@9 =B 89J9@CD=B; =BBCJ5H=CB
6M69=B;H<9<CA9C:=B8IGHF=5@7@IGH9FG 
7CAD9H9B79
79BHF9G 
=B7I65HCFG 
H97<BC@C;M D5F?G 5B8 A5BM CH<9F HMD9G
C::CFA5@5B8=B:CFA5@=BBCJ5H=CBGD579G 
+I779GG:I@ F9;=CBG 5B8 7=H=9G 697CA9
IFCD95BCF;@C65@BC89GC:=BBCJ5H=CB 
H97<BC@C;MB9HKCF?G5B8J5@I97<5=BG
)579?>C 1>4 <?31<9D95C 1<C? @<1I 1
5,*1,A&$1642/(,137457,1*5756$,1$%/(
45F5<?@=5>DA5=B@M8I9HCH<9=FDFCL=A=HM
HCA5BM9BJ=FCBA9BH5@DFC6@9AG 5GK9@@
5GHC@C75@?BCK
<CKCB<CKHCDF9J9BH
5B8 585DH HC 9BJ=FCBA9BH5@ 7<5@@9B;9G 

+89CC97>9K31>DB?<5?6D85<?31<<5F5<G1C
3?>KB=541C<?>717?1C G9D8D85
=BHFC8I7H=CBC:@C75@57H=CB=BHCH<9-'G
;9B85
,<9 B998 HC 3?>>53D 9>>?F1D9?> 1>4
CECD19>129<9DI 175>41C G1C 3?>KB=54
=B H<9 A=8
 G K<9B H<9 7CB79DH
?6 53? 9>>?F1D9?> G1C KBCD 3?9>54 
7C
=BBCJ5H=CBH<9B <CK9J9F HCC?56CIH
5897589HC697CBG=89F98G9F=CIG@M6M
F9;=CB5@5B8B5H=CB5@DC@=7M
A5?9FG (B@M
=B F979BH M95FG  <5J9 ACF9 IFCD95B
F9;=CBG F97C;B=G98 H<9 B998 HC H5D
=BBCJ5H=CBDCH9BH=5@HC588F9GGGC7=5@5B8
9BJ=FCBA9BH5@7<5@@9B;9G &5BM=BBCJ5

H=CB DC@=7M
A5?9FG GH5FH98 :C@@CK=B; 5
7<5@@9B;9
8F=J9B5DDFC57<HC=BBCJ5H=CB
DC@=7M 6M 7<5BB9@@=B; DI6@=7 GIDDCFH HC

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


  
 








    


0.'+#..
!,**0+'/3

,**0+'/3
..,!' /',+.

+'1#-.'/'#.

,+.0*#-.

#.# -!&
,-% +'. /',+.

F9GDCB8 HC 7<5@@9B;9G C: 9BJ=FCBA9BH5@


GIGH5=B56=@=HM5B8BCH56@M7@=A5H97<5B;9 
B5C?EB35 56K395>3I 1>4 29?49F5BC9DI  "B
GCA975G9G B579?>C@9?>55B543<9=1D5
381>75 1>4 53?9>>?F1D9?> @?<9395C
69:CF9B5H=CB5@
@9J9@DC@=7=9GK9F9:CFAI

@5H98  K<=7< K5G H<9 75G9 =B H<9 .5GHF5


CH5@5B8F9;=CBC:+K989B 
/<5HA5?9GF9;=CBGK9@@DCG=H=CB98HCH57?@9
6CH<=BBCJ5H=CB5B8GIGH5=B56=@=HM
(B H<9 CB9 <5B8  B579?>C 81F5 1>
9>C978D 9>D? D859B ?G> 9>>?F1D9?>
CICD5=C1CG5<<1CD8531@139D95CD?
=?29<9C5 B579?>1< 9>>?F1D9?> CD1;5
8?<45BC D8B?E78 C@539K3 @?<93I 9>CDBE

A9BHG
(B H<9 CH<9F <5B8  B579?>1< CD1;5
8?<45BC 81F5 1 7??4 E>45BCD1>49>7
?6 B579?>1< 5>F9B?>=5>D1< @5B6?B
=1>35C1CG5<<1CD8531@139D95C1>4
3?=@5D5>35C D? D1;5 <?31< 13D9?> D?
@B?=?D55>F9B?>=5>D1<CECD19>129<9DI

+1'-,+*#+/ )
'++,1 /',+
#+#-%3 %#+!'#.

)579?>C 81F5 2?D8 D85 5H@5B


D9C5 1>4 D85 31@139DI D? 56653D9F5<I
144B5CC 2?D8 9>>?F1D9?> 1>4 CECD19>
129<9DI 381<<5>75C "B A5BM =BGH5B79G 
7CBB97H=B; H<9G9 9LD9FH=G9G  7F95H=B;
7C@@97H=J9 75D57=H=9G HC 57H 5B8 7CA=B;
ID K=H< =BBCJ5H=J9 GC@IH=CBG =G D@579

C@539K3
 3? 9>>?F1D9?> <9;5 1>I ?D85B
=BBCJ5H=CB  G<CI@8 69 IB89FGHCC8 5G
PC77IFF=B; 6975IG9 C: K<5H 5F9 C:H9B
;9C;F5D<=75@@MDFCL=A5H97CB79BHF5H=CBG
5B8 =BH9F57H=CBG 5ACB;GH GA5@@  :5GH

ACJ=B; GMGH9AG C: =BBCJ5HCFG 5B8 H<9=F


B9HKCF?GR "BG<CFH ;9C;F5D<MA5HH9FG
"H 75B 5@GC 69 5F;I98 H<5H 75?7B1@8I
=1DD5BC =?B5 6?B 53?9>>?F1D9?> H<5B
:CF 5BM CH<9F =BBCJ5H=CB  G =B8=75H98
56CJ9  97C
=BBCJ5H=CB 5B8 GIGH5=B

56@9 ;FCKH< F9EI=F9 6CH< 5 ;CC8 IB89F

GH5B8=B; C: F9;=CB5@ =BBCJ5H=CB GMGH9AG


5B8 5 ;CC8 ?BCK@98;9 C: H<9 9BJ=FCB

A9BH5@5B8GIGH5=B56=@=HM7<5@@9B;9G

 '  

 AA=7 ,D3@E;F;A@
D79;A@E*79;A@3>@3F;A@3>
75A;@@AH3F;A@EKEF7?E
3@6EFD3F79;7E(DA9D7EE;@
(>3@@;@9   

 AA=7 ,D3@E;F;A@
D79;A@E*79;A@3>@3F;A@3>
75A;@@AH3F;A@EKEF7?E
3@6EFD3F79;7E(DA9D7EE;@
(>3@@;@9   

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

 *79;A@3>(DA9D3??7
A8!@@AH3F;H75F;A@E;E3@
;@;F;3F;H7A8F:7  
5A:7E;A@BA>;5KI:;5:I3E
43E76A@F:D77EFD3F79;5
F:7?7E *79;A@3>75A@A?;7E
43E76A@=@AI>76973@6
F75:@A>A9;53>;@@AH3F;A@ 
7GDAB7*79;AF:7;@8AD?3F;A@
EA5;7FK3FF:7E7DH;57A8
D79;A@3>67H7>AB?7@F
*79;A@3>;67@F;FK3@6
EGEF3;@34>767H7>AB?7@F $;@=
:FFB

7GDAB3 7G
>79;E>3F;A@2
EG??3D;7E
D79;A@3>2BA>;5K

BDAH;E;A@E23@62;@EFDG?7@FE

9  27@ :F?

 97@63 ;E3B>3@A8
35F;A@FA47F3=7@9>A43>>K
@3F;A@3>>K3@6>A53>>K4K
AD93@;L3F;A@EA8F:7-@;F76
&3F;A@E+KEF7?AH7D@?7@FE
3@6%3<ADDAGBE;@7H7DK
3D73;@I:;5::G?3@;?B35FE
A@F:77@H;DA@?7@F $;@=
:FFB

III G@ AD9
7E3
6E6

397@63

CF9L5AD@9 :CGG=@
65G989B9F;MDFC8I7

H=CBF9@=9GCB<=;<@M79BHF5@=G98DFC8I7H=CB
DFC79GG9G K<=@GHF9B9K56@99B9F;MB998G
HC6989
79BHF5@=G985B8585DH98HC@C75@
7CB8=H=CBG ,<9@5HH9FF9EI=F9G@C75@?BCK@

98;9C:=B8IGHF=5@5B8GC7=5@GHFI7HIF9G 5G
K9@@5G5H97<B=75@9LD9FH=G9=B9B9F;M5B8
9> D85 5>F9B?>=5>D1< @B?K<5 ?6 D85 B579?>
7CB79FB98 57<F9;=CBF9EI=F9G=HGCKB 
E>9AE5CDB1D5793B5L53D9?>1>4@?<93I =9H
HC588F9GGG=A=@5F=GGI9G ,<=GA=LF9EI=F9G
=BH9;F5H98 DC@=7=9G H<5H 75B H5F;9H 6CH<
=BBCJ5H=CB DCH9BH=5@ 5B8 H<9 K=89F GC7=5@
5B8GIGH5=B56=@=HM7CB8=H=CBG K<=7<89H9F

A=B95F9;=CBG7CAD5F5H=J958J5BH5;9G

C: 9BH9FDF=G9G HC B9K 6IG=B9GG CDDCFHI

B=H=9G5B87<5B;9G=BD9CD@9G5HH=HI89G 
69<5J=CIFG 5B8 DF9:9F9B79G  +I7<
;>?G<5475 5>12<5C D85 945>D9K31D9?> ?6
C@539K3 381<<5>75C 9> D85 7B55>9>7 ?6
D8553?>?=I1>4D8514:ECD=5>D?BK>5
HIB=B;C:H<9A95GIF9G 577CF8=B;@M 
.89<5 B5L53D9>7 ?> CECD19>12<5 7B?GD8
F9;=CBG 5B8 @C75@=H=9G 75B 8F5K CB H<9=F
9LD9F=9B79G =B =AD@9A9BH=B; DC@=7=9G HC
GIDDCFH=B; =BBCJ5H=CB GI7< 5G *9;=CB5@
"BBCJ5H=CB +HF5H9;=9G 5B8 *9;=CB5@
)FC;F5AA9G C: "BBCJ5H=J9 7H=CBG
=B GIGH5=B56@9 89J9@CDA9BH H<FCI;<
;9B85  5B8 =B ;FCKH<
CF=9BH98
97CBCA=7DC@=7=9G ,<9:C7IGCBGIGH5=B

56@9 ;FCKH< F9EI=F9G =BBCJ5H=CB DC@=7=9G


HC69;=J9B58=F97H=CB5B85:F5A9KCF?
H<5HF97C;B=G9GH<97<5@@9B;9GC:7@=A5H9
7<5B;9  B5HIF9 DF9G9FJ5H=CB  F9GCIF79
56K395>3I1>41335CC9>7B1G=1D5B91<C


@@ - F9;=CBG 5B8 7=H=9G <5J9 1 <1B75


457B55 ?6 ?F5BC978D ?F5B 9=@?BD1>D
@?<93I 9>CDBE=5>DC >?D12<I @E2<93
@B?3EB5=5>D EB21> 1>4 <1>4 @<1>>9>7
1>4 <?31< 53?>?=93 45F5<?@=5>D 1C
G5<< 1C 5>F9B?>=5>D1< @B?D53D9?> 1>4
5>5B7I@?<9395C1>4@B?7B1==5C,<9G9
*ECD19>12<5 7B?GD8 @1D8G1IC 1<C?
=BGHFIA9BHG 75B 69 9AD@CM98 HC DIFGI9
45@5>4 ?> =1>I B579?>1< 381B13D5B9C
6CH<;FCKH<5B8GIGH5=B56=@=HM 5B8F9;=CB5@
D93C=B7@I8=B;97CBCA=7GHFI7HIF9 GC7=5@
1ED8?B9D95C31>EC5CE38=51CEB5C1C
=GGI9G  H97<BC@C;=75@ 58J5B79A9BH 5B8
 DD@M=B; ;F99B DI6@=7 DFC7IF9A9BH  ;CJ9FB5B79 5GK9@@5GH<99BJ=FCBA9BH5@
=B7@I8=B;DF9
7CAA9F7=5@DFC7IF9A9BH @B?K<5 ?6 D85 B579?>
 )579?>C 45@5>4 D?
8=::9F9BH9LH9BHGCBDC@=7=9G5B8F9;I@5HCFM
 )FCACH=B; F9G95F7< 5B8 =BBCJ5H=CB =B
:F5A9KCF?GH<5H5F989J9@CD985HB5H=CB5@
F9;=CB5@6IG=B9GG9G5B87@IGH9FG
5B8 IFCD95B @9J9@G  5G A5BM GIGH5=B

 +IDDCFH=B;H<97F95H=CBC:97C
=BBCJ5
56=@=HM DFC6@9AG <5J9 HC 69 588F9GG98
H=J9+&G
6M DC@=7=9G =B=H=5H98 5B8 7CCF8=B5H98 5H

F99B=B;@C75@5B8F9;=CB5@=B8IGHFM  H<9G9@9J9@GCF9J9B5H5;@C65@@9J9@ ,<=G
GI7< 5G 7CBGHFI7H=CB  HCIF=GA 5B8 =AD@=9G H<5H F9;=CB5@ 57H=CBG <5J9 HC 69
5;FC
:CC8 G97HCFG  6M DFCACH=B; 9A698898 =B H<9 6FC589F DC@=7M :F5A9

KCF?G5B8IB89FGH5B8=B;GC:K=89F C:H9B
@569@G5B8GH5B85F8G
;@C65@ HF9B8G @H<CI;<DIFGI=B;GIGH5=B

 +IDDCFH=B;DF=J5H989A5B86MF5=G=B;
56@9;FCKH<=G5GHF5H9;=77<5@@9B;9:CF5@@
7CBGIA9F 5K5F9B9GG 56CIH GIGH5=B

F9;=CBG H<95DDFC57<9G5B8=BGHFIA9BHG
56@9@=:9GHM@9G
IG98 HC H57?@=B; H<=G 7<5@@9B;9 K=@@ 8=::9F
9=B; 7@CG9F HC H<9 A5F?9H 5B8 HC H<9 69HK99BF9;=CBG +85B59C>?P?>5C9J5
@C75@ 6IG=B9GG 7CAAIB=H=9G  F9;=CB5@ A65$//? 4(&,3( )24 6+( '(8(/230(16
5IH<CF=H=9G 75B 69HH9F ACB=HCF H<9 H5?9 1>4 9=@<5=5>D1D9?> ?6 1@@B?1385C D?
ID C: ;F99B =BBCJ5H=CBG  H<9 58>IGHA9BH 3?>>53DCECD19>12<51>4C=1BD7B?GD8

(*,!$-!'**%&!&-, '*!,!+

 ,)*,*+ %#)&.+ %,)%%),)#) &%*

.9FMIF65B=G98F9;=CBGK=@@B998HC7CBG=89F8=::9F9BH5DDFC57<H<5BDF98CA=B5BH@M
FIF5@F9;=CBG "BIF65B5B8?BCK@98;98F=J9BF9;=CBG H<9GIGH5=B56@9;FCKH<DCH9B

H=5@A5M69ACF95DD5F9BH5G5F9GI@HC:5<=;<9F89BG=HMC:9BH9FDF=G9G =BBCJ5HCFG
5B87IGHCA9FG:CF;F99BDFC8I7HG5B8G9FJ=79G G7=H=9G577CIBH:CF 
 C:5@@
;F99B<CIG9;5G9A=GG=CBG;@C65@@M ACF9GIGH5=B56@9GC@IH=CBG=BAC6=@=HM 9B9F;M
5B8 K5GH9 GMGH9AG G<CI@8 69 7CBG=89F98 =B H<9 CJ9F5@@ 9BJ=FCBA9BH5@ =AD57H 
&5BM7=H=9G5F95@F958M9LD9F=A9BH=B;K=H<B9K5DDFC57<9G5B895F@M58CDH9FGC:
;F99B=B;GHF5H9;=9G5F95@F958MK=HB9GG=B;H<9=FDCG=H=J9=AD57HG

-& 34;F3FF:7
!@F7D@3F;A@3>@7D9K97@5K
-&(

E%3D57>A4D3D6F:7
:3;DA8F:7/AD>6%3KADE
AG@5;>A@>;?3F7:3@97
BA;@F76AGFO;FNE;@F:75;F;7E

CF 9L5AD@9  =B +HC7?<C@A 5@@ HF5=BG 5B8 =BB9F 7=HM 6IG9G BCK FIB CB F9B9K56@9
:I9@5B87CID@98K=H<H<9585DH988=GHF=7H<95H=B;5B87CC@=B;GMGH9AG H<=G<5G
F98I798(9A=GG=CBG6MG=B79  "BF9=6IF; 5G5F9GI@HC:H<9=BHFC8I7

H=CBC:GIGH5=B56@9K5H9FA5B5;9A9BHDF57H=79G K5H9F7CBGIADH=CB897F95G986M
CJ9FH<9D9F=C8
 

F:3FF:743FF>7FAE>AI9>A43>

"B FIF5@ 5F95G K=H< @CK9F DCDI@5H=CB 89BG=H=9G 5B8 @9GG =B8IGHF=5@ 57H=J=H=9G  H<9
GHF5H9;=7CDH=CBGB998HCH5?98=::9F9BH5DDFC57<9G=BHC577CIBH ,<9=C
97CBCAM
+HF5H9;M:CFIFCD9  @=GHG5BIA69FC:DFCDCG=H=CBGCB<CK=BBCJ5H=CB7CI@8
7CAD@9A9BH CF HF5BG:CFA H<9 57H=J=H=9G C: HF58=H=CB5@ G97HCFG  GI7< 5G :CF9GHFM 
17B93E<DEB5 1>4 KC85B95C 9>D? CECD19>12<5 14454 F1<E5 @B?4E3D9?>
 +85C5 3?E<4
69C:A5>CF=ADCFH5B79HCF9;=CBGG99?=B;B9KGHF5H9;=789J9@CDA9BHD5H<G ,<9
GIGH5=B56@9 ;FCKH< :F5A9KCF? DFCACH9G 5 B9K 5GG9GGA9BH C: H<9 IB89FJ5@I98 
CJ9F@CC?98 CF IBF97C;B=G98 5GG9HG C: FIF5@ F9;=CBG  ,<9G9 5GG9HG =B7@I89 GC@5F
5B8 A5F=B9 9B9F;M 5B8 5@@ 8=F97H 5B8 =B8=F97H 7CBHF=6IH=CBG :FCA 97CGMGH9AG HC
<IA5BK9@@
69=B; K<=7<5F95@GCF9:9FF98HC5G97CGMGH9AG9FJ=79G ,<=GDCH9BH=5@ 
=:GA5FH@MIB@95G<98 75B<5J95GI6GH5BH=5@=AD57HCB5;;F9;5H98;FCKH<

I3D6:FFB

75 7GDAB3 7G

CF9L5AD@9 CB9C:H<9DF=CF=H=9GC:H<94+A5FH+D97=5@=G5H=CB+HF5H9;MC:+7CH@5B8
=G HC IG9 H<9 F=7<B9GG C: B5HIF5@ F9GCIF79G  GI7< 5G K5J9 DCK9F  :CF F9B9K56@9
9B9F;M  ,<=G =B8IGHFM 5@F958M GIDDCFHG ACF9 H<5B   >C6G 57FCGG +7CH@5B8 
)@5BGHC=BGH5@@IDHC  =;5K5HHGC:C::G<CF9K=B8;9B9F5H=B;75D57=HM=B+7CHH=G<
K5H9FG5F9DF98=7H98HC;9B9F5H95FCIB8O 6=@@=CBCFZ 6=@@=CBC:=BJ9GHA9BH
6M  K<=@9H<9G97HCF<5GH<9DCH9BH=5@HC7F95H9IDHC >C6G5B8GIDDCFH
5:IFH<9F =B8=F97H@MCJ9FH<9G5A9D9F=C8

I3D?;@9I;>>47IA@P 

GDAB73@D77@3B;F3>
7@H;DA@?7@F

 7DD;@;% 3@6A@A$ 
%73EGD;@9-D43@+GEF3;@34;>;FK
@3>KE;EA8F:7GDAB73@
D77@3B;F3>I3D6 
3BB>;53F;A@DAG@6 

 !@@AH3F;@98AD
+GEF3;@34>7DAIF:
;A75A@A?K8ADGDAB7 
'%  8;@3>

 M+5AFF;E:*7@7I34>7E
7>;H7D;@9F:7?4;F;A@
?B>AK?7@F;@*7@7I34>7
@7D9K;@+5AF>3@6N:FFB

III E5AFF;E:D7@7I34>7E 5A?

BG4>;53F;A@E
7?B>AK?7@F
D7@7I34>77@7D9KE5AF>3@6

E773>EA53E7EFG6K ;@F:;E
9G;67

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%


 +77:FFB

75 7GDAB3 7G

D79;A@3>2BA>;5K
I:3F
8GFGD7

, -*!'&$('$!1+-(('*,!&
+%*,&+-+,!&$*'/,

) &%#'&# 0 %


+&%+/+&+
,)&'

*+)+0

BDABAE3>E2 2 2
7@ 58?

 GDAB7 +FD3F79K
8AD+?3DF+GEF3;@34>73@6
!@5>GE;H7DAIF: '% 

 :FFB

75 7GDAB3 7G

D79;A@3>2BA>;5K
EAGD57E

6A5A88;5
A88;5;3>
5A??G@;5

5A??27@ :F?

 '%  8;@3>


(DABAE3>8AD3D79G>3F;A@A8
F:7GDAB73@(3D>;3?7@F3@6
A8F:7AG@5;>A@EB75;8;5
BDAH;E;A@E5A@57D@;@9F:7
*3@6F:7!@H7EF?7@F
8AD9DAIF:3@6<A4E9A3>3@6
D7B73>;@9*79G>3F;A@
&A 
A8F:'5FA47D

A95BGC:89@=J9F=B;ACF9H5F;9H98
,<9;9B9F5@C6>97H=J9C:H<9-GF9;=CB5@
C<9G=CB 5B8 +HFI7HIF5@ IB8
DC@=7M =G HC F98I79 8=GD5F=H=9G 69HK99B
GIDDCFH5B8
IFCD9G F9;=CBG 5B8 HC GHF9B;H<9B
97CBCA=7  GC7=5@ 5B8 H9FF=HCF=5@ 7C<9G=CB
GHF5H9;=75B8=BH9;F5H985DDFC57<
,<9@9;=G@5H=J9D57?5;9DIH:CFK5F86MH<9
HC<5FB9GG=B;H<9DCH9BH=5@:CFGA5FH
CAA=GG=CB =B (7HC69F   =B8=75H9G
;FCKH<5B8H<9?BCK@98;997CBCAM
H<5HH<9HKC79BHF5@;C5@G:CF7C<9G=CBDC@=7M
=B5@@F9;=CBG 
=BH<9B9KDFC;F5AA=B;D9F=C8 
  
K=@@69=BJ9GHA9BH:CF;FCKH<5B8>C6G5B8 B *"+ GHF5H9;M K=@@ 69 5B 9L
5BH9
7CB8=H=CB :CF H<9 IG9 C: H<9 C<9G=CB
IFCD95BH9FF=HCF=5@7C
CD9F5H=CB
)C@=7M =B  
   ,<9G9 GHF5H9;=9G
)579?>1<'?<93I9CD85B56?B5?>5?6D85 5F95B=BH9;F5@9@9A9BHC:B9K=B8IGHF=5@
;5I45<9F5BI=5381>9C=C?6D85EB?@5 DC@=7=9G H<5H 5=A HC DFCACH9 DFC8I7



CDB1D57I9>D85B579?>C 
H=J=HM
9B<5B7=B; A95GIF9G 5B8 @9J9F5;9
""BH<9-GF9;=CB5@89J9@CDA9BH5;9B85  DF=J5H9F9GCIF79G ,<9M5F965G98CBH<9
5B9GG9BH=5@:95HIF9C:DFCACH=B;GIGH5=B
7CAD5F5H=J9 58J5BH5;9G C: F9;=CBG 5B8
56@9  GA5FH 5B8 =B7@IG=J9 ;FCKH< =G H<9 75B9BGIF95ACF99::97H=J9IG9C:DI6@=7
89J9@CDA9BHC:GA5FHGD97=5@=G5H=CBGHF5H
:IB8G ,<9M75B<9@DF9;=CBGHC7CB79B

5795C
+89C9CC@539K31<<I1BD93E<1D549>D85 HF5H9H<9=FF9GCIF79GCB5:9K?9MDF=CF=

CAAIB=75H=CB 4*9;=CB5@ )C@=7M 7CBHF=6


H=9G F5H<9F H<5B GDF958=B; =BJ9GHA9BHG
IH=B;HCGA5FH;FCKH<=BIFCD9   "B H<=B@M57FCGG5F95G5B86IG=B9GGG97HCFG
H<=G 8C7IA9BH  H<9 CAA=GG=CB 9B7CIF

F ,<9 B9LH DFC;F5AA=B; D9F=C8 C:


5;9GH<989G=;BC:B5H=CB5@5B8F9;=CB5@
 
  K=@@7CB79BHF5H9DI6@=7=BJ9GH

B5C51B38 1>4 9>>?F1D9?> CDB1D5795C 6?B A9BH CB 5 @=A=H98 BIA69F C: ;FCKH<

C=1BDC@5391<9C1D9?>?B) * 1C
9B<5B7=B; =BJ9GHA9BH DF=CF=H=9G  "B @=;<H

(*,!$-!'**%&!&-, '*!,!+

&.+& %&)'&)+
*,*+ %#)&.+
%+&) * 

C: H<9 7<5@@9B;9G DCG98 6M 9BJ=FCB

A9BH5@89;F585H=CB 7@=A5H97<5B;95B8
F9GCIF79G75F7=HM H<9-&9A69F+H5H9G
5B8F9;=CBGB998HC=BH9;F5H9H<9GIGH5=B

56=@=HM C6>97H=J9G =BHC H<9=F *"+  ,<9M


5@GCB998HCIG9H<9=BBCJ5H=CB
CF=9BH98
,<9A5H=7(6>97H=J9GC:H<9:IHIF9F9;=CB5@
DC@=7MHC6I=@85@CK75F6CB97CBCAM5B8
DFCACH9GIGH5=B56@95B8GA5FH;FCKH<
*9;=CB5@ )C@=7M =G 697CA=B; CB9 C: H<9
A5=B-DC@=7=9GHC:CGH9F=BBCJ5H=CBH<5H
F9GDCB8G HC H<9 7<5@@9B;9G C: GIGH5=B

56@99B9F;M 7@=A5H97<5B;95B8H<9IG9
C:B5HIF5@F9GCIF79G "H75BD@5M5D=JCH5@
FC@9 =B GHF9B;H<9B=B; 6CH< H<9 GIGH5=B

56=@=HM 5B8 7CAD9H=H=J9B9GG C: IFCD95B


F9;=CBG
,<9F9:CF9 $1>179>7 ED8?B9D95C 1B5
5>3?EB1754D?@<135CECD19>12<57B?GD8
1D D85 3?B5 ?6 D859B ) *  5G 5 7FCGG

7IHH=B;5DDFC57<H<5H75BH5DH<9DCH9B

H=5@C:97C
=BBCJ5H=CB 97CGMGH9AG9FJ=79G
5B8GIGH5=B56@99B9F;M 

,<9 =B7CFDCF5H=CB C: GIGH5=B56@9 ;FCKH<


;C5@G G<CI@8 H5?9 D@579 5H 9J9FM GH5;9
C:H<9*"+DFC79GG =;IF9<=;<@=;<HG
H<9A5=B=GGI9GH<5HB998HC697CBG=8

9F98 5H 957< GH9D =B H<9 89G=;B C: H<9


*"+ *9589FG5F99B7CIF5;98HCF9:9FHC
H<9*"+ I=89:CF89H5=@98=BGHFI7H=CBG 
,<=G ;I=89 =G 5 7CAD@9A9BH HC H<9 *"+
I=895B8:C7IG9GCB58CDH=B;H<9*"+
89G=;B HC 97C
=BBCJ5H=CB  97CGMGH9A
G9FJ=79G5B8GIGH5=B56@99B9F;M5F95G

 :75=*!+G;678AD
7>34AD3F;A@A8735:*!+
7E;9@EF397E
:FFB

EB>3F8AD? <D5 75 7GDAB3


7G
EB9G;67

+89C7E945G9<<CE@@?BDD85@B?35CC?6
@B5@1B9>71>) * 6?3EC9>75C@5391<<I
?> 13D9?> @<1>>9>7 1>4 9=@<5=5>D1
D9?>*D5@ACGHBCH56@M6MG<CK75G=B;
9L5AD@9G C: =B=H=5H=J9G GI779GG:I@@M
IB89FH5?9B =B 5 BIA69F C: 8=::9F9BH
F9;=CBG  "B 588=H=CB  H<9 8C7IA9BH
588F9GG9G H<9 EI9GH=CBG C: 5B5@MG=B;
H<9 F9;=CB5@ 7CBH9LH 5B8 =HG DCH9BH=5@ :CF
97C
=BBCJ5H=CB 97C
GMGH9AG9FJ=79G5B8
GIGH5=B56@9 9B9F;M 5F95G +H9D  5B8
GH5?9<C@89F=BJC@J9A9BH+H9D <5DH9FG
 5B8DFCJ=89DF57H=75@=BG=;<HGCB<CK
D?13D9>D85C@539K31B51C?653? 9>>?F1D9?>
97CGMGH9AG9FJ=79G5B8GIGH5=B56@99B9F;M 


&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%


 ,) %&)'&)+ %*,*+ %#)&.+&#* %) * + &%*

) * *+'

(,*+ &%*+&)**
/<5H5F9H<9A5=B7<5@@9B;9G
65FF=9FGHC 5B88F=J9FGC: GIGH5=B

56@9;FCKH<=BMCIFF9;=CB
 /<5H 5F9 H<9 9L=GH=B; F9;=CB5@ 5GG9HG 5B8 9A9F;=B; DCH9BH=5@ :CF
57H=J=H=9GH<5HK=@@9B7CIF5;9GIGH5=B56@9;FCKH<

*D5@

>1<IC9C?6D85
B579?>1<3?>D5HD
1>4@?D5>D91<
6?B9>>?F1D9?>

 /<5H=GH<99L=GH=B;9LD9FH=G95B8?BCK@98;9=BH<9F9;=CB =B7@I8=B;
F9G95F7<5B8=BBCJ5H=CB75D57=H=9GGI7<5GH<CG9K=H<=BIB=J9FG=H=9G 
K<=7<F9@5H9HC97C
=BBCJ5H=CB GIGH5=B56@99B9F;M 9H7
 /<5H5F9H<97CAD9H=H=J958J5BH5;9G5B875D57=H=9GC:@C75@=B8IGHF=9G
1>4*%C9>D85K5<4C?653? 9>>?F1D9?>CECD19>12<55>5B7I5D3
 !CK8MB5A=7=GH<9@C75@9BHF9DF9B9IF=5@9BJ=FCBA9BH=BH<95F95G
K=H<H<9<=;<9GHDCH9BH=5@:CFGIGH5=B56@9;FCKH<

*D5@

?F5B>1>35
>CEB9>7
@1BD939@1D9?>
1>4?G>5BC89@

 /<5H 5;9B7=9G  CF;5B=G5H=CBG  7CAD5B=9G 5B8 CH<9F GH5?9<C@89FG


3?E<4259>F?<F549>45C97>9>71>4@B?=?D9>7C@539K313D9?>CD81DG9<<
7CBHF=6IH9HC7CBB97H=B;GA5FH5B8GIGH5=B56@9;FCKH<=BH<9F9;=CB
 !CK75BGH5?9<C@89FG69GH69AC6=@=G98HC7F95H9F9;=CB5@5@@=5B79G
HCDFCACH9=BBCJ5H=CBG:CFGIGH5=B56@9;FCKH<
 !CK75B7C@@56CF5H=J957H=CB5B89::97H=J9=AD@9A9BH5H=CB69GH69
CF;5B=G98

*D5@

<12?B1D9?>?6
1>?F5B1<<F9C9?>
6?BD856EDEB5?6
D85B579?>

!CK75BH<9C6>97H=J9C:GIGH5=B56@9;FCKH<69=BH9;F5H98=BHCH<9
@CB;
H9FAJ=G=CBH5?=B;=BHC577CIBHF9;=CB5@5GG9HG 7<5@@9B;9G5B8
9A9F;=B;CDDCFHIB=H=9G
 !CK5F9GA5FH5B8GIGH5=B56@9;FCKH<7CBB97H98K=H<=BH<=GCJ9F5@@
J=G=CB:CFH<9:IHIF9
 ?G31>D85F9C9?>B5L53DD857<?21<DB5>4C
 /<5H=GH<9CJ9F5@@DF=CF=HM:CFGIGH5=B56@9;FCKH<=BH<9GHF5H9;M

*D5@

45>D96931D9?>?6
@B9?B9D95C

 /<5H5F9H<9?9M:C7IG5F95GHCDFCACH9=BBCJ5H=CBG:CFGIGH5=B56@9
;FCKH<=BH<9F9;=CB A9A69FGH5H9
 /<5H5F9H<9?9MH97<BC@C;=75@ G97HCF=5@ 5B8<CF=NCBH5@DF=CF=H=9G:CF
=BJ9GHA9BH

*D5@

569>9D9?>?6
3?85B5>D@?<93I
=9HB?14=1@C
1>413D9?>@<1>

 /<5HGHF5H9;=9G FC58A5DG DC@=7=9G5B857H=CBGB998HC69IB89F

D1;5>D?@B?=?D5C@539K3>93851B51C1>4D85@B9?B9D95C6?B<9>;9>7
GA5FH5B8GIGH5=B56@9;FCKH<
 !CK 75B H<9 <CF=NCBH5@  J9FH=75@ 5B8 H9ADCF5@ 7C<9F9B79 C: H<9
DC@=7MA=L699BGIF98
 !CK75B89A5B85B8GIDD@MG=89A95GIF9G6965@5B798

*D5@

>D57B1D9?>
?6=?>9D?B9>7
1>45F1<E1D9?>
=5381>9C=C

 !CK HC 5GG9GG H<9 =AD57H 5B8 9J5@I5H9 5B8 ACB=HCF 57H=CBG 5B8
DFC>97HGH<5H588F9GGGIGH5=B56@95B8GA5FH;FCKH<
 !CK75BDFC;F9GGHCK5F8GIGH5=B56@95B8GA5FH;FCKH<69A95GIF98

(*,!$-!'**%&!&-, '*!,!+

'!&&'.,!'&
, %!&%+++*'%, !+ (,*
7C
=BBCJ5H=CBG5F979BHF5@HCH<9DFCACH=CBC:GIGH5=B56@95B8GA5FH;FCKH<=BF9;=CBG
2531EC5?6D859BG945 B1>79>725>5KDC6?BD8553?>?=I1>4D855>F9B?>=5>D
3? 9>>?F1D9?>9C>?D<9=9D54D?C@539K39>4ECDB95C1>4C53D?BC
!D31>259>DB?4E3549>D?
1>IK5<4F91>?F5<?B9=@B?F54@B?4E3DCD538>?<?795CC5BF935C=1>175=5>D1>4?B71>9

G5H=CB5@GHFI7HIF9G =BGH=HIH=CB5@5FF5B;9A9BHG5B8@=:9GHM@9G5B8GC7=5@69<5J=CIF
7C
=BBCJ5H=CBGG<CI@8BCH69G99BG=AD@M5G5F9A98M:CF9BJ=FCBA9BH5@DFC6@9AG 6IH
5@GC5G56CCGH:CFH<997CBCAM5B8GHF9B;H<9B=B;F9;=CBG7CAD9H=H=J9B9GG=BH<9=BH9FB5

H=CB5@A5F?9H
'5H=CB5@ 5B8 F9;=CB5@ 5IH<CF=H=9G 5F9 K9@@ DCG=H=CB98 HC :57=@=H5H9 HF5BG:CFA5H=J9 7<5B;9G 6M
GIDDCFH=B;J5F=CIG97C
=BBCJ5H=CBG5B8=BJC@J=B;8=::9F9BH57HCFG=B89J9@CDA9BH5B8=AD@9

A9BH5H=CB97C
=BBCJ5H=J9GHF5H9;=9G 9GD97=5@@MIB89FH<9:F5A9KCF?C:F9;=CB5@DC@=7M5B8*"+ 

, (',&,!$,!'&+, ,+ '-$(-*+-


9J9@CD=B;5@CB;
H9FA5A6=H=CIGJ=G=CBC:5GIGH5=B56@95B8GA5FHF9;=CB5B8:57=@=H5H=B;
HF5BG:CFA5H=J9 5B8 GMGH9A 97C
=BBCJ5H=CBG H<5H 6F=B; H<9 F9;=CB 7@CG9F HC F95@=G=B; H<=G
J=G=CB ,<=GK=@@B979GG=H5H9=BJC@J=B;A5BM@C75@GH5?9<C@89FG=BH<9DFC79GG
"BHFC8I7=B; BCJ9@ DC@=7M =BGHFIA9BHG :CF 97C
=BBCJ5H=CB GIDDCFH H<5H K=@@ 7F95H9 89A5B8
:CF97C
=BBCJ5H=J9DFC8I7HG5B8G9FJ=79GGI7<5G;F99BDI6@=7DFC7IF9A9BH5B88=F97H@M
GIDDCFH=B; 97C
=BBCJ5H=CB =B +&G  =B7@I8=B; DFCJ=8=B; GI6G=8=9G 5B8 58J=GCFM 5B8
H97<B=75@GIDDCFH
+IDDCFH=B;BCHCB@M9BJ=FCBA9BH5@H97<BC@C;=9G5B84;F99BDFC8I7HG6IH5@GCDFCJ=8=B;
GHF5H9;=7GIDDCFH5B87F95H=B;7CB8=H=CBG:CFGMGH9A97C
=BBCJ5H=CBG

, #1,'*+,'!&.'$.!&'!&&'.,!'&!&!,!,!.+
*9;=CB5@5B8%C75@IH<CF=H=9G
IG=B9GG5B8"B8IGHF=9G
*9G95F7<(F;5B=G5H=CBG @IGH9F(F;5B=G5H=CBG5B8-B=J9FG=H=9G
' (G =H=N9BG %=J=B;%56G -G9F FCIDG
*9;=CB5@CF%C75@"BBCJ5H=CBCF9J9@CDA9BH;9B7=9G

, %'+,!%('*,&,!++-+,'/*'
+85B59C>?C9>7<5@?<93I=51CEB5D81D31>CE@@?BD53? 9>>?F1D9?>56K395>D
>D<I
<ID85B59C1>554
6?B13?=@B585>C9F5@?<93I=9H9653? 9>>?F1D9?>C1B5D?L?EB9C81>42
2549CC5=9>1D54
,<9@CB;
GH5B8=B;7CAA=HA9BHC:H<9B5H=CB5@5B8F9;=CB5@;C
CJ9
J9FBA9BHHCDIFGI=B;GIGH5=B

56@9;FCKH<=G5B=ADCFH5BHGIDDCFH:57HCF
+85C@539K353?>?=93B57E<1D?BID538>?<?7931<1>
1>4
49>>?F1D9?>@B?K<5C?6B579?>C1>4C53D?BC
A95BH<5HH<9MF9GDCB88=::9F9BH@MHCH<9J5F==CI
CIG=B79BH=J9G5B865FF=9FGHC97C
=BBCJ5H=C
CB
+MGH9A=7=BBCJ5H=CBG<5J9K=89F5B8A
ACF9@CB;
H9FADCG=H=J9=AD57HG 6IHH<9M5FF9HH<9ACGH
7<5@@9B;=B;HC89G=;B5B8=AD@9A
9A9BH

(*,!$-!'**%&!&-, '*!,!+

& %%&-+ &%*%


% %&*,*+ %#
%*$)+)&.+
3?9>>?F1D9?> 9C 1 @5BF1C9F5 3?>35@D
6+$6,5126/,0,6('6253(&,A&,1'7564,(5
?BC53D?BC?6D8553?>?=I7C
=BBCJ5

H=CBG75B69=BHFC8I798=BA5BI:57HIF=B; 
G9FJ=79G  CF;5B=G5H=CBG  A5B5;9A9BH
GHM@9G  IF65B 5B8 FIF5@ D@5BB=B; 5B8
89G=;B 5;F=7I@HIF95B8A5BMCH<9F5F95G 
,<=G5@@D9FJ5G=J9B5HIF9C:97C
=BBCJ5H=CB
75B 69 =BGHFIA9BH5@ =B 6I=@8=B; <95@H<M 
7CAD9H=H=J95B8GIGH5=B56@9B5H=CB5@5B8
F9;=CB5@97CBCA=9G
,<9 IFCD95B -B=CB =G =B7F95G=B;@M
F9;5F8=B;97C
=BBCJ5H=CB5G69=B;CB9C:
H<9ACGH=ADCFH5BH8F=J9FGC:=HG97CBCAM
5B8 =HG =BH9FB5H=CB5@ 7CAD9H=H=J9B9GG  "B
@5H9    =H 58CDH98 H<9 7C
"BBCJ5H=CB
7H=CB)@5BH<5H 6M=ADFCJ=B;H<9A5F?9HG
IDH5?9 C: 97C
=BBCJ5H=CB  K5G 89G=;B98
HC =B7F95G9 9BJ=FCBA9BH5@ D9F:CFA5B79 
7F95H9;FCKH<5B8>C6G5B89BGIF95ACF9
56K395>DEC5?6D85C31B35B5C?EB35C9>D85
-
+85B5 1B5 C5F5B1< 25>5KDC D? D85 <?31<
9BJ=FCBA9BH 5B8 GC7=C
97CBCAM :FCA
@B?=?D9>753? 9>>?F1D9?>
 FCA 5B 9BJ=FCBA9BH5@ D9FGD97H=J9 
CB9C:H<9A5=BF9GI@HGC:97C
=BBCJ5

H=CBG 75B 69 H<9 B54E354 EC5 ?6


>1DEB1<B5C?EB35C5B8H<9453B51C54
53?<?7931<6??D@B9>D6MF9GHF=7H=B;H<9
F9@95G9C:<5FA:I@GI6GH5B79G57FCGG
H<9@=:97M7@9C:5DFC8I7HCFG9FJ=79 
CF 9L5AD@9  H<9 A5BI:57HIF=B; C:
6=C89;F5856@9A5H9F=5@G9A=HG5FCIB8
 @9GG(H<5BHF58=H=CB5@DFC8I7HG
65G98CBD9HFC7<9A=75@G

 ,)& %%&-+ &% %

3?9>>?F1D9?> =G 5BM =BBCJ5

H=CB H<5H F98I79G H<9 IG9 C: B5HIF5@


F9GCIF79G5B8897F95G9GH<9F9@95G9
C: <5FA:I@ GI6GH5B79G 57FCGG H<9
K<C@9 @=:97M7@9  7C
=BBCJ5H=CB 75B
256?E>49>1<<6?B=C?6>5G?BC97>9K

75BH@M =ADFCJ98  DFC8I7HG  ;CC8G 


G9FJ=79G  DFC79GG9G  A5F?9H=B;
A9H<C8G  CF;5B=G5H=CB5@ GHFI7HIF9G 
=BGH=HIH=CB5@
5FF5B;9A9BHG
5B8
@=:9GHM@95B8GC7=5@69<5J=CIFG K<=7<
@958 HC 9BJ=FCBA9BH5@ =ADFCJ9A9BHG
7CAD5F98HCF9@9J5BH5@H9FB5H=J9G 
7C
=BBCJ5H=CB GI;;9GHG BCJ9@
5DDFC57<9G57FCGGH<9A5H9F=5@J5@I9
7<5=BG C: DFC8I7HG 5B8 DFC79GG9G 
K<=7< @CK9F H<9 =BH9BG=HM C: A5H9F=5@
IG9K<=@9=B7F95G=B;G9FJ=79=BH9BG=HM
5B8 K9@@
69=B; ,<9G9 5F9 =1D5B91<
B29 (&2,1128$6,215  K<=7< <9@D
HC ACJ9 GC7=9H=9G :FCA H<9 9LHF57H

7CBGIA9
8=GDCG9 GMGH9A C: HC85MG
F9GCIF79IG9HCK5F8G5ACF97=F7I@5F
GMGH9A C: IG9 5B8 F9
IG9  K=H< @9GG
HCH5@A5H9F=5@F9EI=F9A9BHGCJ9F5@@
"H=G=ADCFH5BHHCBCH9H<5H97C
=BBCJ5

H=CB=GBCH@=A=H98HCB9KH97<BC@C;=9G
CFDFC8I7HG "H75B5@GC@958HC7<5B;9G
=B 7CBGIADH=CB 5B8 DFC8I7H=CB
D5HH9FBG5B8<5J95K=89FHF5BG:CFA

5H=J9 9::97H  *ICD5= 53?9>>?F1D9?>


7CBB97HG A5BM =BH9FF9@5H98 =BBCJ5

H=CBG H<5H =ADFCJ9 CF 7F95H9 BCJ9@


:IB7H=CB5@ GMGH9AG  +I7< =BBCJ5H=CBG
B998 HC 9B;5;9 5 F5B;9 C: 57HCFG 
=B7@I8=B; ;CJ9FBA9BH  6IG=B9GG9G
5B8 7=H=N9BG  =B H<9 F9;=CB5@ GMGH9A
5B857FCGGH<9J5@I97<5=B 

 ,:75A(
5A;@@AH3F;A@5F;A@
(>3@>3G@5:764KF:7
;@757?47D ;EF:7
>A9;53>EG557EEADFAF:7
,(F:7-NE@H;DA@?7@F3>
,75:@A>A9;7E5F;A@(>3@ 
:FFB

75 7GDAB3 7G

7@H;DA@?7@F
75A3B

 5A!@@AH3F;A@
'4E7DH3FADK
III 75A;@@AH3F;A@ 7G

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%


 ,)% +*&& %%&-+ &%

     

  

  




 
 


5A!@@AH3F;A@
'4E7DH3FADK@@G3>D7BADF
3H3;>34>7A@
III 75A;@@AH3F;A@ 7G

 G@67E?;@;EF7D;G?8GD
-?I7>F&3FGDE5:GFLG@6
*73=FADE;5:7D:7;F%-3@6
-?I7>F4G@67EF3?F-
-?I7>FI;DFE5:38FE47D;5:F


 +85 5>F9B?>=5>D1< 25>5KDC ?6


97C
=BBCJ5H=CBG 75B 69 D5F5@@9@98
6M (&2120,& %(1(A65  GI7< 5G
F98I798 A5H9F=5@ 7CGHG F9GI@H=B;
:FCA H<9 69HH9F IG9 C: F9GCIF79G 
5B8=B7F95G989B9F;M5B8F9GCIF79G
G5J=B;G H<FCI;<CIH H<9 F9;=CB  CF
9L5AD@9  5 9FA5B GHI8M CB H<9
=1D5B91< 56K395>3I 719>C 5CD9=1D54
5J9F5;9 5BBI5@ 7CAD5BM G5J=B;G
C: Z  :CF =BBCJ5H=CBG =AD@9

A9BH9869HK99B 5B8  


 ,<9 =BHFC8I7H=CB C: 97C
=BBCJ5H=CBG
75BCD9BID>5G=1B;5D?@@?BDE>9
D95CH<5H3B51D5:?2C5B8CDB5>7D85>
*$C=BH<9F9;=CBG6MDFCJ=8=B;H<9A
K=H<7CAD9H=H=J958J5BH5;9G ,<=G =B
HIFB =B7F95G9GH<9F9;=CBG7CAD9H=

H=J9B9GG  "H <5G 699B 9GH=A5H98 H<5H


H<9 7IFF9BH Z HF=@@=CB 97C
=BBCJ5H=CB
A5F?9HK=@@F5D=8@M9LD5B85B8F957<
Z HF=@@=CB6M  
 *?391< 719>C 75B 5@GC F9GI@H :FCA
ACF9 GIGH5=B56@9 DF57H=79G  5G
97C
=BBCJ5H=CB 75B A5?9 5 8=::9F

9B79H<FCI;<7<5B;=B;H<969<5J=CIF
5B8@=:9GHM@9GC:H<97=H=N9BG5B8H<=G
7<5B;975BF9GI@H=B5ACF97C@@56C

F5H=J95DDFC57< =B7F95G987C<9G=CB


 
 
  

  
  



  



+AGD57!'

 

 

  
4E5D?56K395>3I719>C

    








 
  

5B8 =ADFCJ98 EI5@=HM C: @=:9 5B8


<95@H<
975IG9 C: H<9 K=89
F5B;=B; DCH9BH=5@
25>5KDC D? 2?D8 D85 5>F9B?>=5>D 1>4 D?
H<9 @C75@ 97CBCAM  53?9>>?F1D9?>C
C8?E<4 25 1D D85 3?B5 ?6 CECD19>12<5
1>4 C=1BD 7B?GD8 9> B579?>C ,<9=F
=AD57HCBH<9@C75@9BJ=FCBA9BH5B8H<9
97CBCA=75B8GC7=5@GMGH9AG75BF5B;9
:FCA =B7F9A9BH5@ 7<5B;9 HC 5B =B=H=5@@M
8=GFIDH=J9 6IH DCG=H=J9 DFC79GG C: HF5BG

:CFA5H=CB
)579?>1<1>4<?31<1ED8?B9D95C1B59>1
7??4@?C9D9?>D?@B?=?D5DB1>C6?B=1
D9F5 53?9>>?F1D9?>C 1>4 CICD5=93
381>75 ,<=G =G @=B?98 K=H< H<9=F DC@=7M

A5?=B;DCK9FG H<9=F7CBHFC@CJ9FDI6@=7
F9GCIF79G 5B8 H<9 =ADCFH5BH FC@9 H<5H
H<9M75BD@5M=B:57=@=H5H=B;@=B?G69HK99B
6IG=B9GG F9G95F7<5B87=J=@GC7=9HM ,<IG 
6M GIDDCFH=B; =BBCJ5H=CB  6M DFCACH=B;
DFC>97HG H<5H 58J5B79 9BJ=FCBA9BH5@
D538>?<?795C 1>4 53? 56K395>3I ?B 2I
9B;5;=B; =B GMGH9A=7 97C
=BBCJ5H=CB 
F9;=CB5@5B8B5H=CB5@5IH<CF=H=9G75B<9@D
HC HF5BG:CFA H<9 K5M =B K<=7< H<9 @C75@
57HCFG 7CBGIA9 F9GCIF79G  =BH9F57H K=H<
@C75@97CGMGH9AG5B86F=B;J5@I9HCH<9
@C75@97CBCAM 

(*,!$-!'**%&!&-, '*!,!+

&''&)+,% + *&)
& %%&-+ &%* %
+) &%#&%+/+
*9;=CBG<5J95B58J5BH5;9=BH<5HH<9M
81F5 C@539K3 45<9F5BI =5381>9C=C 1D
H<9=F 8=GDCG5@ H<5H 75B 9B<5B79 H<9
H5?9
ID C: 97C
=BBCJ5H=CB  ,<9M 75B
?B95>D B579?>1< 1>4 <?31< @<1>>9>7
D?G1B4C53?9>>?F1D9F5=51CEB5C5B8
75BKCF?HC;9H<9FK=H<@C75@7CAAIB=H=9G
HC89G=;BGA5FHGMGH9AG
?>29<3>3/=
-+8
/8-9?<+1/
>2/3< -3>3D/8= >9 +.9:> =?=>+38
+,6/ 630/=>C6/= +8. -98=?7:>398
:+>>/<8= ,C 38>/1<+>381 38>/6631/8>
-3>C :6+88381 A23-2 :<979>/=
79,363>C =96?>398= 635/ ,35/ 9< -+<
=2+<381 1<//8 .3=><3->= 9< 38.?=
><3+6 =C7,39=3= :<91<+77/=
+77+<,C %4G=>+. 38 %>9-52967
3= +8 38=:3<+>398+6 /B+7:6/ &2/
./=31890>23=/-9.3=><3->=?--/==
0?66C-97,38/=>2/+A+</8/==+8.
/-90<3/8.6C +>>3>?./= 90 </=3./8>=
A3>2 >2/ /-93889@+>3@/ :6+88381
29?=381 A+=>/ </-C-6381 /8/<1C
+8.1<//879,363>C=96?>398= 
57< F9;=CB =G 9B7CIF5;98 HC 58CDH 5
ACF9 =BH9;F5H98 5DDFC57<  K<=7< <5G
5 ;F95H9F 7<5B79 C: <5J=B; 5 GMGH9A=7
=AD57H 6M9>3<E49>753?9>>?F1D9?>1C
?>5?69DC@B9?B9D95C9>9DC) * !CK9J9F 
H<=G B979GG=H5H9G 5 @CB;
H9FA J=G=CB 5B8
H<989J9@CDA9BHC:5AC89@:CF5GIGH5=B

56@95B8GA5FHF9;=CB
,<9F9 5F9 G9J9F5@ 1@@B?1385C D?
53?9>>?F1D9?> CE@@?BD D81D 3?E<4 25
&215,'(4('9,6+,1($&+4(*,21?5 ! 
 ?CD5B9>7 D85 45F5<?@=5>D 1>4
49CC5=9>1D9?>
?6
CECD19>12<5
D538>?<?795C@B?4E3DC1>4C5BF935C
!/A /8@3<987/8>+6 >/-2896913/=
-+8,/?=/.>9:<9.?-/.<385+,6/
A+>/< >9 37:<9@/ A+>/< ;?+63>C >9
-</+>/+,/>>/<A+>/<380<+=><?->?</
+8.>9-69=/>2/A+>/<-C-6/=

!/A=?=>+38+,6/:<9.?->==?-2+=
,39./1<+.+,6/7+>/<3+6=:</=/8>/.
38 >2/ 99. #<+->3-/ +=/  0<97
>2/D/-2$/:?,63--+8/81/8./<
+8 38-</+=/. ./7+8. 38 >9.+C=
7+<5/>=%?-289@/6:<9.?->=-+8
9:/8?:,?=38/==9::9<>?83>3/=09<
>2/3<7+8?0+->?</<=A236=>2+@381+
@/<C6373>/.8/1+>3@/37:+->.?<381
>2/3<630/>37/

)&$$%+ &%
5F5<?@1<?>7D5B=F9C9?>6?B1CECD19>12<51>4
50$464(*,21 &27164;$1''(A1((&2,1128$6,21
CDB1D5795CD81DG9<<13895F5D89CF9C9?>

 'B?=?D9>7@B?35CC53?9>>?F1D9?>
6M GIDDCFH=B; BCJ9@ H97<BC@C;=75@
5B8 BCB
H97<BC@C;=75@ GC@IH=CBG
H<5H F98I79 H<9 A5H9F=5@ 5B8 9B9F;M
7CGHGC:7CAD5B=9G=B5@@G97HCFG "B
1449D9?>D?D855>F9B?>=5>D1<25>5KDC
H<=G 75B  =B D5FH=7I@5F  =B7F95G9 H<9
7CAD9H=H=J9B9GG C: =B8IGHF=9G 5B8
BCH56@M H<CG9 H<5H 5F9 =BJC@J98 =B
A5BI:57HIF=B;  "H G<CI@8 69 BCH98
H<5H GI7< 97C
=BBCJ5H=CBG 5F9 5@GC
K9@@ GI=H98 HC 4HF58=H=CB5@ 97CBCA=7
G97HCFGH<5HF9DF9G9BHH<9657?6CB9
C:A5BMF9;=CB5@97CBCA=9GGI7<5G
H<95;FC
:CC8G97HCFCFH<97F5:H5F95
 42026,1* (&2()A&,(1&; 6+427*+
>?>D538>?<?7931< 9>>?F1D9?>C 75B
C::9F 5 @CK
F=G?  @CK
7CGH 5B8 95GM
9=@<5=5>D1D9?>CDB1D57I6?B3?=@1>95C

 (>73E7E77
III :3??3D4KE<AEF36 E7
3@AF:7D7J3?B>7;E,I77I3F7DE
6;EFD;5F;@$7GH7@7>9;G?
67E5D;476;@F:7AA6(D35F;57
3E7

 (>73E7E77:FFB

III
783@DI 67
;@67J B:B;6 

&2/ /<7+8 </1398 90 !9<>2


$238/(/=>:2+63+ 2+= -</+>/. +8
./C,2.7,B *0.7,B "&$1.,4 
>2+> +8+6C=/= >2/ /-98973- +8.
/-96913-+6 :9>/8>3+6 38 :<9.?->398
:<9-/==/==?::9<>=-2/7/2+=
+6=9,//8:?>38:6+-/09<-97:+
83/==9>2+>>2/C-+8>+5/98,9+<.
=1.*-?2,.0.7.;*=.-+B=1."&$
1.,4 *>-2= 6.*<>;. "5.*<. <..
88-";*,=2,.*<. 

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

 >F5CD9>7 9> + C::9FG 5HHF57H=J9


CDDCFHIB=H=9G:CF=ADFCJ=B;97CBCA=7
5B8 9BJ=FCBA9BH5@ D9F:CFA5B79 =B
7CBGHFI7H=CB 5B8 <CIG=B;  9B9F;M 
DB1>C@?BD1D9?>1>4?D85BC53D?BC
&2/ <//8 &/-2 '+66/C 38 ?=><3+
29=>= >2/ A9<6. 6/+.381 -6?=>/<
*-9(9<6. %>C<3+ >2+> -97:<3=/=
 -97:+83/= +8. </=/+<-2
-/8></= =:/-3+63=381 38 /8@3<98
6.7=*5 .7027..;270 "5.*<. <..
88-";*,=2,.*<.


 (>73E7E77:FFB

7BADF3> HFF 8;
;@67J 3EB

 +77III B>3@5 7G

?83-3:+63>3/= 38 =>983+ +8.


386+8.  2+@/ ./@/69:/. +
A/,:9<>+609</8/<1C7+8+1/7/8>
38 ,?36.381= 9A8/. ,C 7?83-3:+63
=2.< =8 269;8?. .7.;0B ./C,2.7,B
+8. /-96913-+6 :/<09<7+8-/ &23=
3= +89>2/< /B+7:6/ 90 >2/ 3889@+
=2?. ><. 8/ % /8; <><=*27*+5.
./@/69:7/8>

)&$$%+ &%
?>C945B79F9>7@B9?B9DID?CICD5=93
53?9>>?F1D9?>C9>?B45BD?13895F51G945B
<?>7D5B=9=@13D6?BD85) * 

 +GEF3;@34>75;FK67E;9@
;EA@7A8F:7?AD7BDA?;@7@F
3@6BABG>3D;E767J3?B>7E
A8EKEF7?;575A;@@AH3F;A@ 
%3@K>7EEA@E3@6;673E53@47
6D3I@8DA?7JB7D;7@57EA87 9 
3??3D4K+<XEF36;@+I767@
III :3??3D4KE<AEF36 E7
AD
;9;5A;FK?A67>AD;9;@3F76
;@;@>3@6III 6;9;75A5;FK 5A?

 +77III 8GFGD7?AF;A@ 5L

E?3DF9D;6E
5E
HD5:>34; :F?>;@
L75:

 *E@@?BD 6?B CICD5=93 53?9>>?F1


D9?>C =B7@I8=B; 7CADF9<9BG=J9
GC@IH=CBG C:H9B 65G98 CB =BBCJ5H=J9
6IG=B9GGAC89@GGI7<5GGA5FH7=H=9G 
GIGH5=B56@9 AC6=@=HM 5B8  =B8IGHF=5@
53?<?7I
&2/</1398906+8./<=38/613?72+=
/8.9<=/.+:<91<+77/98 

  
    -+66/.
#6+8  &23= :<91<+77/ 3= 37:6/
7/8>/.,C>2/6/73=2#?,63-(+=>/
1/8-C =*26<=8+>25-*)=;*7<2
>398 8/>A9<5 90 38.3@3.?+6= +8.
9<1+83=+>398= 0<97 +66 =/->9<= >9
-9-</+>/3889@+>398=38=?=>+38+,6/

7+>/<3+67+8+1/7/8>
89>2/< -+=/ 3= >2/  

    7.=@8;4 27 =1. &72=.-
381.97 =?::9<>/. ,C >2/ $
"5.*<. <.. 88- ";*,=2,. *<.
87=1. *=287*57-><=;2*5$B6+2
8<2< ";80;*66. %1. 08*5 8/ =1.
8/>A9<53=>93./8>30C9::9<>?83>3/=
09<=C8/<13/=,/>A//8>2/:<9.?-
>398 :<9-/==/= 90 -97:+83/= +8.
>2/8//.=909>2/<-97:+83/=>2+>
-+8 </-9@/< </:<9-/== 9< </?=/
A+=>/0<97>2/9<3138+6:<9.?->398
:<9-/==/=
">2/</B+7:6/=9029A</1398=+8.
69-+6 -977?83>3/= +</ ,/-97381
=7+<>/<+8.79</=?=>+38+,6/-97/
0<97>2/-3>3/=90'/86938>2/!/>2/<
6+8.= /?@/8 38 /613?7 +8. >2/
*%7+<>$/1398383>3+>3@/38>2/>9A8
90'<-26+,338>2/D/-2$/:?,63-
 '.7582<<..7*<=1.C;<=,;*-5.
>9-<+.6/ </1398 38 >2/ A9<6.
+8.2+=7+.//B>/8=3@//009<>=
>909=>/<+-?6>?</90=?=>+38+,6/
3889@+>398+7981=>>2/</1398=
+><27.<<.< "5.*<. <.. 88-
";*,=2,.*<.
 &2/-3>C90/?@/83=</./=318381
+8 38.?=><3+6 =3>/ >9 ,/-97/
+ </=3./8>3+6 8/312,9?<299.
A3>2+=?=>+38+,363>C:2369=9:2C
+::63/. >9 ,?36.381= 630/=>C6/
79,363>C</-C-6381/8/<1C+8.
+><27.<< "5.*<. <.. 88-
";*,=2,.*<. 
 &2/ D/-2 >9A8 90 '<-26+,3 3=
-99:/<+>381 A3>2 >2/ ) +=
-97:+8C>9/;?3:  29?=/
296.= +8. /8>/<:<3=/= A3>2 >2/
/8/<1C *=7+<> 7/>/<= +8.
>2/ 380<+=><?->?</ 09< /6/-><9
79,363>C,C>2/C/+<


??4'B13D9351C5

$-+,*!&*&'%(&!+
,!+-++(
-+,*"+ *',!.%%1

*

)*(#,

(+,

+AGD57:FFB

III 75A 3F

#&+ &%
ECDB91 *DIB91
,% %*&,)
545B1<*D1D5?6
*DIB91)'B9F1D5
>F5CD=5>D

IGHF=
F=5<CGH
GHGC
CB9
9C:H<9
<9KCF@8
@8G@958=B;;F99BH97<BC@C;M7@IGH9FG
7C/CF@8+HMF=5 +HMF=5
<5GG <58 5 @5
@5F;
;9 7CB
B79BHFF5H=CB C: 9BJ=FCBA9BH5@ 7CAD5B=9G H<5H 85H9G 657? HC H<9  G 
,<9B =B
,<
B 

  H<9
9 @C75@ 6IG=B9GG GIDDCFH 5;9B7M 9GH56@=G<98 5 @CCG9 B9HKCF? 5B8 5 K96
D@5H:C
:CFA
AHC
CDFCA
ACH9;FF99BH97<BC@C;MDFC>97HG M  H<9@CCG9B9HKCF?<589JC@J98=BHC5
G5
5<<66?E>4543
3<ECD5
5B5B87IFF9BH@M 5FCIB8 7CAD5B=9G5B8F9G95F7<79BHF9G5F957H=J9@M
KCF?
F?=B
B;=BH<9
<97@IGH
GH9FCBH<99BJ=FCBA9BH5@9B;=B99F=B;GC@IH=CBGC:HCACFFCK 
7C
C /CF@
F@8
8 +HMF
MF=5 :C7IG9G CB 5 F9G95F7<
=B8IGHFM
;CJ9FBA9BH 7CCD9F5H=CB AC89@ HC H5?9
97C
=BBCJ5H=CB HC 5 <=;<9F @9J9@  ,<9 7@IGH9F C::9FG =HG 7CAD5B=9G 5B 5HHF57H=J9
97
F5
5B;9 C: G9FJ=79G  =B7@I8=B; =1B;5D CDB1D57I CE@@?BD 9>>?F1D9?> @?D5>D91<
5: 3@6
3D
(8$/7$6,21
(
3$461(4,'(16,A&$6,21)71',1*5(48,&(5$1',18(56245($4&+
E7
D7
D
8A

DF
O+GBBA
3;>34;>;FK A8
7C/CF@8+HMF=55B8=HGGHF5H9;=7D5FHB9FG75BG97IF9GIGH5=B56@9;FCKH<:CFH<9

3H
7
F:
@
F;A
H3
;@@A
?75:3@;E?E
7@IGH9F7@=9BHGH<FCI;<H<99BH=F9J5@I97<5=B=BH<95F95GC:6=CA5GG GC@5F9B9F;M
7
E=;>>76>34AGD3@6
>>
I;

DF
BA
7J
7
=1D5B91<L?G=1>175=5>D1>4G1CD51>4G1D5B

=
FA 7@5AGD39

 9DAIF: A8
E:3B7 F:7 8GFGD7
EP
5>73@F75:@A>A9;7

D
7D@:3D6(GFF;@97
D
5FA
D7
;
;3
5A/AD>6+FKD

,<9 HCH5@ 6I8;9H C: H<9 7@IGH9F 89J9@CDA9BH DFC>97H 8IF=B;   Q  
5ACIBH98HCZ  !5@:C:H<=G:IB8=B;75A9:FCAH<9* ,<9GI779GG
?6D853<ECD5B81C85<@54D?B19C5C97>9K31>D<ID85<5F5<?6C5<6 K>1>39>7G8938
7IFF9BH@M5ACIBHGHC5FCIB8  ,<=G=B7@I89GH<97@IGH9FA9A69FG<=D:99G
5B8F9J9BI9:FCADFC>97HG5B8G9FJ=79G

,<5B?GHCH<=GGIDDCFH *DIB91>3?=@1>95C1B5253?=9>7G?B<4=1B;5D<5145BC9>5>F9B?>
=5>D1<D538>?<?795C ,<9F95F9 7CAD5B=9GK=H<5B5J9F5;9;FCKH<F5H9C:D9FM95F 
K<=7<=GB95F@M8CI6@9H<9KCF@8K=895J9F5;9=BH<97@95BH97<A5F?9H "B588=H=CB D853<ECD5B
81C1<B514I85<@54D?3B51D5

>5G:?2CD?7B?GD85<?31<53?>?=I

$1&++ 
,5F;9H989::CFHGHCGIDDCFHH<97@IGH9F=B;C:=BBCJ5H=J97@95BH97<7CAD5B=9G75BA5?9H<9
F9;=CB 7CIBHFM5A5F?9H@9589F=B9BJ=FCBA9BH5@H97<BC@C;=9G5B8G9FJ=79G 

?B6EBD85B9>6?B=1D9?>@<51C5C55
8DD@ GGG
53?
1D 3=C   13DC 12?ED '

??4'B13D9351C5

(!-+ #

+AGD57;D75F!@6GEFDKI74E;F7:FFB

@7IE 6;D75F;@6GEFDK 5A?




+-))(*,(*,!
*+(-*""'1(+&+

*

(+,

#&+ &%
5B=1>I %?BD8
)89>5.5CD@81<91
,% %*&,)
545B1<*D1D5?6%?BD8
)89>5.5CD@81<91
'B9F1D5 >F5CD=5>D

/=H<H<9
<9;FC
CKH<C:: A5
5F?9
9HG H<9
9F9=G5
5D5F5@@9@=B7F95G9=BH<9=FF9GCIF79F9EI=F9A9BHG ,<=GA95BGH<5H
B5C?
?EB355
56K395>
>3I9
9C>
>?<?>
>75BD85
5>E=25B?>5@B9?B9DIC9=@<I6B?=1>53?<?7931<@5BC@53D9F51C9D9C
BC
CK697
7CA=B;
B;=A
ADCFH5BH::CF@CB
B;
H9FA97CBCA=7GI779GG /<=@GHA5BM@5F;97CAD5B=9G5F9A5?=B;
=1:?B
B5
566?BDC
CD?
?9>3
9 3B51C5
5DD859BB5
B5C?EB3556K395>3I=?CDC=1<<1>4=549E=C9J545>D5B@B9C5C*%C:ECD
8CB
BCH<5JJ9H<
H<97
75D57=
7=HHMHCIB
IB89FH5?9H<9G5A99L9F7=G9 ,<=G=GH<9F95GCBK<MH<9F9;=CB5@;CJ9FBA9BH
C:'CFH<
C:
<*<=
<=B9
9
/9GHD
HD<5@=5
5'*/DFCJ=89GH5F;9H98GIDDCFH:CF+&GH<FCI;<H<9)"-+
<97?=B=H=5H=J9
,<9)
)"-+
-+


<97??GIDDC
DCFHA95GIF9K5G@5IB7<986MH<9'*/&=B=GHFM:CFH<9BJ=FCBA9BH=B5B8
=G A5B
5B5;
5;98 6MD856
6KJ95>J 75>DEB&).
+8519=CD?@B?=?D53<51>5B@B?4E3D9?>=5D8?4C
=B
B+&
+&G5B8<5G89J9@CD985 D??<2?HG9D81B1>75?63?>CE<D1>3IC5BF935C"HG;C5@
=GHC
CCIH@=B9H<9DCH9BH=5@:CFCD9F5H=CB5@G5J=B;G=BDFC8I7H=CB7M7@9G5B8HCKCF?CIH
:;667@
GC@I
IH=CBGHC57<=9J9H<9G9G5J=B;G6MD9F:CFA=B;5342&(5524,(16('0$6(4,$/B29

:
5
G
?

;@
;E EA


@
7
A
D
F;
7
3
1>1
1<IC9C,<9+&=BJC@J98=GH<9BG<CKBHKCHCH<F99DCGG=6=@=H=9GHC=ADFCJ9H<9=F
:
O,
?;E
8AD ABF; E F:3F
>
3
F;
@
F7
7
A
B5C
C?EB3556K395>3IG9D89>:ECD>9>541IC

E
B
BDA57E


A@
75A@A?;5
BDA6G5F;
;@34>7

F3
K
E
D
G
7
E
H


3>>K
?AD7
F ;E 35FG  ;E FA
@
7
?
7
9
3
?3@
>>7@97
,:7 5:3
E;?B>7  BAF7@F;3> P
7
67F75FF:
67?3@@
"3@ 7

4GD9
;8G 3?

,<9=GCF;5B=G98=B5:CFAC:@E2<93@B9F1D5@1BD>5BC89@ "H5DDFC57<9G7CAD5

B=9G 5G 5 DF=J5H9


G97HCF 9BH9FDF=G9  K<=@GH 5H H<9 G5A9 H=A9 57H=B; 5G 5 B9IHF5@
B
BCB
7CAA9F7=5@ D5FHB9F  "H <5G 577IAI@5H98 9LD9F=9B79 =B 5 F5B;9 C: G97HCFG 
B
5B8=HG?BCK@98;9C:5DDFCDF=5H9A9H<C8G5B8CDH=A5@GIDDCFHA95GIF9G<5G
697CA95897=G=J9:57HCF

,<9 HCH5@ 7CGHG C: 5B 5I8=H 5F9 69HK99B Z


  -D HC HKC
H<=F8G C:
H<9G97CGHG75B697CJ9F986MH<9B5H=CB5@7@95BDFC8I7H=CBDFC;F5AA975@@98
-5B%1D
+89C@BB?7B1==59C?B71>9C542ID855B=1>)5C?EB356K395>3I75>3ID81D9CB5C@?>

G=6@9 HC H<9 989F5@ &=B=GHFM C: 7CBCA=7G 5B8 ,97<BC@C;M   5@GC 5GG=GHG +&G =B 5DD@M=B; :CF
:IB8=B;:CFH<95I8=HG ,<9HCH5@H=A9GD9BHCBH<9)"-+
<97?:FCAH<9=B=H=5@A99H=B;GHCH<9D@5BB=B;
C:H<9DCH9BH=5@A95GIF9G=GG=LHCB=B9ACBH<G 
*9>35D85' ,*853;G1C9>9D91D549>

=?B5D81>

1E49DC81F5255>3?>4E3D54B?E>4 ?B
520(
2)6+(&203$1,(5,182/8('+$8(0$'(126$%/(,03428(0(165,16+(,44(5274&(()A&,(1&;
$1&++ 
+85 @B?F9C9?> ?6 3?>CE<D1>3I C5BF935C 1>4 1@@B?@B91D5 K>1>391< 9>CDBE=5>DC 31> C97>9K

31>D<I9=@B?F5*%CB5C?EB3556K395>3I

?B6EBD85B9>6?B=1D9?>@<51C5C55

8DD@ GGG
@9EC 9>6?
45

8DD@ GGG
561>BG
45 9>45H
@8@94


(*,!$-!'**%&!&-, '*!,!+

&.+&+"+ &%
&*+) %& %%&-+ &%
+)&,*$)+
*' # *+ &%*+)+ *
%'&# 0*,''&)+

%#0* *&+) &%#


&%+/+% +*'&+%+ #&)
& %%&-+ &%
/<9B 89G=;B=B; 5DDFCDF=5H9 GHF5H9;=9G
5B8GIDDCFHA97<5B=GAG H<95IH<CF=H=9G 
K<9H<9FF9;=CB5@CFB5H=CB5@ G<CI@8GH5FH
K=H< 5 GHF5H9;=7 5B5@MG=G C: H<9 5GG9HG 
DCH9BH=5@  7<5@@9B;9G 5B8 CDDCFHIB=H=9G 
,<=G5B5@MG=GDFCJ=89GH<965G=G:CFH<9=F
57H=CBHCDFCACH997C
=BBCJ5H=CB
9D9B8=B; CB H<9 G97HCF  =B8IGHFM CF
D85=1D936?3ECD851>1<IC9C31>9>3<E45
 ?>4E3D9>76?B5C978D1>4@B?C@53
D9F5 CDE495C K=H< H<9 =BJC@J9A9BH C:
97C
=BBCJ5H=CB 9LD9FHG 5B8 DC@=7M
D@5BB9FGHC89J9@CD5GHF5H9;=7J=G=CB
C: 5 GIGH5=B56@9 F9;=CB  7=HM  @C75@
=B8IGHFMCF97CBCA=7G97HCF =B7@I8=B;
H<9=B<9F9BH7<5@@9B;9G 65FF=9FG5B8
CDDCFHIB=H=9G
 CC5CC9>7 D85 @5B6?B=1>35 1>4
>554C?6D853?=@1>95C1>4*$C
9>D5B=C?653? 56K395>3I53? 9>>?F1

H=J9B9GG  DFC8I7H=J=HM 5B8 9BJ=FCB

A9BH5@ A5B5;9A9BH DF57H=79G  5G


G5<< 945>D96I9>7 D85 C@539K3 21BB95BC
5B87<5@@9B;9GH<9M5F9:57=B;
 >1<IC9>7 D85 CECD19>129<9DI D85
5>F9B?>=5>D1<@5B6?B=1>351>4D85
9=@13D 6??D@B9>D C: H<9 A5>CF =B8IG

HF=9G=BH<9F9;=CBCF7CIBHFM5B8H<9=F
J5@I97<5=BG

)&$$%+ &%
.89<5@<1>>9>753?9>>?F1D9?>CDB1D5795C1>4
13D9F9D95C3?>4E3D1B?2ECD1>1<IC9C?6D85
5H9CD9>71>45=5B79>74B9F5BC?61>421BB95BCD?
53?9>>?F1D9?>
 5D5B=9>9>7 D85 @5B6?B=1>35
@?D5>D91<1>43?=@5D9D9F5>5CC?6D85
53?9>4ECDB95C1>43<51>D5385>D5B
@B9C5C =89BH=:M=B; H<9 65FF=9FG H<5H
<=B89F H<9=F 97CBCA=7 GI779GG 5B8
5@GC H<9=F B998G =B H9FAG C: DC@=7M
GIDDCFH
 45>D96I9>7  D85 <?31< 1>4 9>D5B
>1D9?>1< =1B;5D ?@@?BDE>9D95C :CF
97C
=BBCJ5H=J9DFC8I7HG5B8G9FJ=79G
HC 5GG9GG <CK =B8IGHF=9G 5B8 +&G
=978D25CD25>5KD6B?=D85C5
 ?>CE<D9>7 G9D8 B5<5F1>D CD1;5
8?<45BC56CIHH<9DCH9BH=5@HCF95@=G9
CF =AD@9A9BH @5F;9 G75@9 DFC>97HG
GI7<5GGIGH5=B56@97=H=9GCF=B8IGHF=5@
GMA6=CG=G H<5H F9DF9G9BH GMGH9A=7
5DDFC57<9G HC 588F9GG=B; GIGH5=B

56=@=HM
 5F5<?@9>7 1> E>45BCD1>49>7
?6 D85 21BB95BC 1>4 4B9F5BC 957<
7CIBHFM5B8F9;=CB<5G=HGCKBD5FH=7

I@5F7<5F57H9F=GH=7G ,<9G9=B7@I89=HG
=B8IGHF=5@ 5B8 H97<BC@C;=75@ 65G9 
CF=9BH5H=CB 5B8 =BBCJ5H=J9B9GG C:
DC@=7=9G 5B8 7I@HIF9 5B8 B5HIF5@
1CC5DC
 +85C5 31> 1<< 9>LE5>35 D85
GI779GG C: 97C
=BBCJ5H=CB )@95G9
G99=;IF9 @GC=:H<9F95F9A5BM
613D?BCD81D31>9>LE5>355138@?D5>

H=5@ 97C
=BBCJ5H=J9 GC@IH=CB  DFC>97H
5B8 DFC;F5AA9G D@5BB9FG B998 HC
58>IGH H<9=F 5B5@MG=G HC H<9 HMD9G C:
97C
=BBCJ5H=CBCBH<9=F5;9B85G


&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%


 ,))) )*+&%) -)*&& %%&-+ &%

 +775A;@@AH3F;A@

/<=@GH F9;=CB5@  5B8 GCA9H=A9G B5H=CB5@  ;CJ9FBA9BHG 5F9 79BHF5@ HC DC@=7=9G
5B8 GIDDCFH :CF 97C
=BBCJ5H=CB  =H =G H<9=F 9BH9FDF=G9G  =B7@I8=B; +&G  K<=7<
=BJ9BH =AD@9A9BHCF58CDH97C
=BBCJ5H=CBG ,<9F95F9G9J9F5@;9B9F5@8F=J9FG
1>421BB95BCD81D9>LE5>35D859>F?<F5=5>D?65>D5B@B9C5C9>53? 9>>?F1D9?> 

'4E7DH3FADKD7BADF8AD
III 75A;@@AH3F;A@
7G
D7BADFE

 !@5>G67E3>EAF:7
A@7E;@6;53F76;@F:7>3EF
A??G@;FK!@@AH3F;A@
+GDH7K  

*".*+
+854B9F5BCF97C;B=G986MH<97CAD5B=9G5F9H<CG9H<5HG<CKH<5H97C
=BBCJ5

D9?>=1;5CK>1>391<1>45>F9B?>=5>D1<C5>C51>4D85I9>3<E45
3?>?=93613D?BCCE381C
,<97IFF9BH5B85BH=7=D5H98<=;<DF=79GC:9B9F;M5B8F5KA5H9F=5@G
,<9;FCK=B;A5F?9H:CF97C
=BBCJ5H=J9DFC8I7HG5B8G9FJ=79G
335CCD?CE2C9495C1>4KC31<9>35>D9F5C

 (>73E7E77
5A;@@AH3F;A@'4E7DH3FADK
D7BADF8AD III
75A;@@AH3F;A@ 7G
D7BADFE

,<95J5=@56=@=HMC:;CC86IG=B9GGD5FHB9FG
+85B57E<1D?BI1>4@?<93I6B1=5G?B;G85B5D85=?CD9>LE5>D91<1B5
,<99L=GH=B;CF5BH=7=D5H989BJ=FCBA9BH5@F9;I@5H=CBG5B8GH5B85F8G
.C@IBH5FM7C89GCF5;F99A9BHG:CF9BJ=FCBA9BH5@;CC8DF57H=79
@IGH9F=B;5B8H<9H5F;9H98GIDDCFHC:7@IGH9F=B=H=5H=J9G
'B71>9C1D9?>1>43?=@1>I31@139DI B5<1D54613D?BCCE381C
+851F19<129<9DI?6D538>?<?7931<1>4K5<45H@5BD9C5
(F;5B=G5H=CB5@5B8A5B5;9A9BH75D56=@=H=9G

**"*+
+85 21BB95BC 65FF=9FG :CF 7CAD5B=9G G<CI@8 5@K5MG 69 H5?9B =BHC 577CIBH 6M
H<CG9 D9CD@9 5H B5H=CB5@  F9;=CB5@ CF 7=HM @9J9@G K<C 5F9 5HH9ADH=B; HC 89G=;B
97C
=BBCJ5H=CBGHF5H9;=9G
1BB95BCB5<1D54D?53?>?=931>4K>1>391<613D?BC1B5
%57?C::IB8GK=H<=BH<99BH9FDF=G9G
-B79FH5=B89A5B8:FCAH<9A5F?9H
-B79FH5=BF9HIFBCB=BJ9GHA9BH
(??B1335CCD?@E2<93CE2C9495C1>4KC31<9>35>D9F5C

1BB95BC9>D5B=C?6?B71>9C1D9?>1<31@129<9D95C9>3<E45
$13;?6AE1<9K54@5BC?>>5<
%57?C:9LD9
D FH=G9
F9@5H98?BCK@98;
;9
$9=9D5431@139DID?9=@B?F5=1D5B91<56K395>3I

*ICD5=9345K395>395C1>4?D85B613D?BC81=@5B9>753? 9>>?F1D9?>C1B5
  %=
%=A=
A=H9
H98
8 9B
9BJ=
J=FC
FCBA
BA9B
9BH5
H5@@ 5K
5K5F
5F9B
9B9G
9GGG 5A
5ACB
CB;G
;GHH 7C
7CBG
BGIA
IA9F
9FGG H<
H<5H
5H FF9G
9GI@
I@HG
HG ==B
B @C
@CK
K
89A5B8:CF97C
=BBCJ5H=CB
%57?C:F9;I@5HCFM=B79BH=J9G

(*,!$-!'**%&!&-, '*!,!+

P,9
,97<
7<BC
BC@C
@C;=
;=75
75@@@C
@C7?
7?
==BR
B =B
=BH<
H<9
997
97CB
CBCA
CAMM

 ,75:
,75:@A>
@A>A9K
A9K>A5=
>A5=;@
;@;E
;E
38AD?A875A@A?;5B3F:

CA=B5B79=BH<9A5F?9HC:9GH56@=G<987CAD5
D B=9G


67B7@67@57F:7?3D=7F

/95?7CCD9F5H=CB69HK99BF9G95F7<5B8=B8IGHFM

E7>75FE3F75:@A>A9;53>

,<9=ADCFH5B79C:8F=J9FG5B865FF=9FG8=::9FG69HK99BG97HCFG ,<=GG<CI@869H5?9B
=BHC577CIBH6MH<CG9DC@=7M
A5?9FG K<C5F95HH9ADH=B;HC9B7CIF5;997C
=BBCJ5

H=CB  ,<9 A5>CF GIDDCFH=B; :57HCF =B 57<=9J=B; GIGH5=B56@9 ;FCKH< =G H<9 CJ9F5@@
B5H=CB5@ CF F9;=CB5@ ;CJ9FBA9BHG 7CAA=HA9BH HC H<9 GIGH5=B56=@=HM 5;9B85 5B8
G=AI@H5B9CIGDIFGI=HC:=HG97CBCA=75B89BJ=FCBA9BH5@;C5@G

EF3@63D63@697FE>A5=76;@
ADEFG5=I;F:F:3FEF3@63D6
7H7@F:AG9:F:7D73D747FF7D
3>F7D@3F;H7E 

) -)*&& %%&-+ &% %,)&'


%"#"#  !! & 

# " & 

# ""  


#!!! " !
#   !%!" "! 
335CCD?5H9CD9>7CE2C9495C1>4KC31<9>35>D9F5C
""!$"""  !
 ! "   #"!
%"#"# " ! "&
??41335CCD?9>6?B=1D9?>;>?G<54751>4D538>?<?7ICE@@?BDC5BF935C
%"#"#  #"!!$!" !
"!!"" !
%!" #"!#!" !
?<<12?B1D9?>G9D8B5C51B389>CD9DED5C175>395C1>4E>9F5BC9D95C






  


  
   
 
 



)) )*+&& %%&-+ &% %,)&'



   
$13;?6AE1<9K54@5BC?>>5<1>4D538>?<?7931<31@129<9D95C
$13;?65HD5B>1<K>1>39>7
!>CE6K395>D1335CCD?5H9CD9>7CE2C9495C1>4KC31<9>35>D9F5C
)54E39>75>5B7IEC59C>?D19>>?F1D9?>@B9?B9DI
H9CD9>7B57E<1D9?>C1>4CDBE3DEB5C>?D@B?F949>79>35>D9F5CD?53? 9>>?F1D9?>
$13;?6AE1<9K54@5BC?>>5<1>4D538>?<?7931<31@129<9D95C
+538>931<1>4D538>?<?7931<<?3; 9>C9>53?>?=I

   


)54E39>7=1D5B91<EC59C>?D19>>?F1D9?>@B9?B9DI
$9=9D541335CCD?5HD5B>1<;>?G<54759>3<D538>?<?7ICE@@?BDC5BF935C
   
$13;?63?<<12?B1D9?>G9D8B5C51B389>CD9DED5C1>4E>9F5BC9D95C




 
EAGD57GDA43DA?7F7DEGDH7K



  
   
 
   
 



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

%*,) %+')+  '+ &%&


*+"&#)*

5IH<CF=H=9G 75B 9BGIF9 :5JCIF56@9 DC@=7M


5B8 F9;I@5HCFM :F5A9KCF? 5B8 H<9
89J9@CDA9BH C: DFC>97HG 5B8 =BBCJ5H=J9
G7<9A9GH<5H588F9GG9BJ=FCBA9BH5@5B8
97CBCA=7 =GGI9G  "B H<=G K5M  6IG=B9GG
CDDCFHIB=H=9G 5F9 7F95H98 5B8  5H H<9
G5A9H=A9 @C75@7=H=N9BG5B87CBGIA9FG
5F9 DFCJ=898 K=H< =B79BH=J9G HC 7<5B;9
H<9=F69<5J=CIF

7C
=BBCJ5H=CB=G5DFC79GGH<5HF9EI=F9G
H<9 D5FH=7=D5H=CB C: A5BM 8=::9F9BH HMD9G
C: GH5?9<C@89FG  ,<=G =G D5FH=7I@5F@M HFI9
C: GMGH9A=7 97C
=BBCJ5H=CBG  K<9B 5
K=89F5B;9C:57HCFGG<CI@869=BJC@J98 
=B7@I8=B; B5H=CB5@ F9;=CB5@ @C75@ ;CJ9FB

A9BHG  @C75@ 6IG=B9GG9G  ' (G  GC7=5@


9BH9FDF=G9G  57589A=5 5B8 F9G95F7< 7C
=BBCJ5H=CB =G 56CIH 7<5B;=B;
79BHF9G
D9CD@9G @=:9GHM@9G 5B8 7CBGIADH=CB
D5HH9FBG  5G K9@@ 5G DFC8I7=B; ACF9
)&$$%+ &%
CF;5B=75B8DCG=H=J9HMD9GC:=BH9F57H=CB
?B1CE335CC6E<53?9>>?F1D9?>CDB1D57I1>4
K=H< H<9 @C75@ 97CGMGH9AG  "H =G K=H< H<=G
9>@1BD93E<1BCICD5=9353?9>>?F1D9?>9>F?<F5
5A6=H=CBH<5HB579?>1<1>4<?31<1ED8?B9
1G945B1>75?6CD1;58?<45BC6B?=2EC9>5CC
D95C C8?E<4 @B?=?D5 3??@5B1D9?> 1>4
9>4ECDBIB5C51B381>439F9<C?395DI
9>D5B13D9?>25DG55>%&C3?==E>9DI
B5@B5C5>D1D9F5C EC5B 7B?E@C C?391<
,<9 FC@9 C: H<9 DF=J5H9 G97HCF =G :IB85
1>4 @B9F1D5 5>D5B@B9C5C 1>4 B5C51B38
A9BH5@  +&G 5B8 @5F;9F 7CAD5B=9G 35>DB5C
DFCJ=8=B; DFC8I7HG 5B8 G9FJ=79G 5F9
1=?>7D85KBCDD?25>5KD6B?=253?=9>7
=?B5 B5C?EB35 56K395>D ?B 5>D5B9>7
B9K A5F?9HG K=H< H<9=F 97C
=BBCJ5H=J9
DFC8I7HG5B8G9FJ=79G 

(>73E7E77
:FFB

III AB7@>;H;@9>34E 7G

!CK9J9F  H<9F9 =G GH=@@ H<9 DCH9BH=5@ :CF


=1B;5D 619<EB5 G8938 :ECD9K5C D85 9>D5B

J9BH=CB C: H<9 DI6@=7 G97HCF =B DFCJ=8=B;


1<5F5< @<1I9>7K5<46?B53?>?=9313D9F9DI
=B H<=G 5F95  '5H=CB5@  F9;=CB5@ 5B8 @C75@

' (G75BDFCJ=89GIDDCFH:CF97C
=BBCJ5

H=CBDFC>97HG D@5M5B58J=GCFMFC@9=BH<9=F
=AD@9A9BH5H=CB 5B8 F5=G9 5K5F9B9GG
5ACB;GH @C75@ 7=H=N9BG  7C
=BBCJ5H=CB
75BC::9FGC7=5@9BH9FDF=G9GH<9CDDCFHI

B=HMC:9B;5;=B;7CAAIB=H=9G=BGIGH5=B

56@9 F9J9BI9 ;9B9F5H=B; DF57H=79G 


*9G95F7<79BHF9G5F95@GCJ9FM=ADCFH5BH
=B DFCJ=8=B; 5GG=GH5B79 HC 9BH9FDF=G9G
H<FCI;<H<9=F*57H=J=H=9G5B85B5@MG=G 

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




  


 !!!  


%?>9D?B9>7?6@B?:53D13D9F9D95C1>4D85K>1>391<1<<?31D9?>
   # 
>CEB9>7D538>931<1>4K>1>391<CE@@?BD
    " "     !
#  
     "      ! 
   # #




     !!   


 !   
 " !  ! 
!  
 "   !"! ! 
! !"      ! 
! 
(B?F949>7D538>931<1>4K>1>391<CE@@?BDD?@B?:53DC




 
 



     !!   


 !   
 " !  ! 
!  
 "
  !"! ! 


  


     "      ! 
   # #
   
 "  
$?22I9>76?BC@539K3B57E<1D9?>C?B@?<93I4539C9?>C


   
 


 #!  ! 


  "! # 
 ! 
! !   #  ##   
#



 

! #  !!   


 !   
 " !  ! !
  
(B?=?D9>7?B<?22I9>76?BC@539K3B57E<1D9?>C?B@?<93I4539C9?>C

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

'&# 0$*,)*%+ &%*


!> @<1>>9>7 1>4 45C97>9>7 C@539K3
A95GIF9G HC DFCACH9 97C
=BBCJ5H=CB 
&5B5;=B; IH<CF=H=9G 75B A5?9 IG9 C:
5 K=89 F5B;9 C: DC@=7M =BGHFIA9BHG CF
A95GIF9G

)&$$%+ &%
+?13895F561BB51389>7B5CE<DC9>@B?=?D9>7
53?9>>?F1D9?>C45F5<?@13?=@B585>C9F5
@?<93I=9HD81D9>3<E45C2?D8CE@@<I1>4
45=1>4C945=51CEB5C
*,''#0* $*,)*
+85C5=51CEB5C@B?F94549B53DK>1>391<
H97<B=75@CF58J=GCFMGIDDCFHHCDCH9BH=5@
97C
=BBCJ5HCFG GI7< 5G +&G  F9G95F7<
CF;5B=G5H=CBG 7@IGH9FG 5GGC7=5H=CBG5B8
' (G  ,<9G9 GIDDCFH A95GIF9G 75B
9>3<E45
 III 5B:5>73@F75: 5A?

 III 75A?3D=BDA<75F 7G
7@

 III 7@IAD=E 5A?

 =B5B7=5@ 5B8 H97<B=75@ GIDDCFH :CF


* H9GH=B;5B87CAA9F7=5@=G5H=CB 
J=5 GI6G=8=9G 5B8 H<9 DFCJ=G=CB C: IB8=B;:CF*=BH<9DI6@=75B8DF=J5H9
G97HCFG =G C:H9B ;F5BH98 HC DFCACH9
*=B:F5GHFI7HIF9
B9HKCF?=B; 5B8 7C@@56CF5H=J9 F9G95F7< 
 8I75H=CB  HF5=B=B; 5B8 AC6=@=HM
89J9@CD * =B:F5GHFI7HIF9 5B8 ACIBH
GIDDCFHG7<9A9G
89ACBGHF5H=CB DFC>97HG :C7IG=B; CB
 ,<9 DFCACH=CB C: B9HKCF?G 5B8 B5C?EB35 56K395>3I 5>5B7I 56K395>3I
D5FHB9FG<=DG GH=AI@5H=B; 97C
=BBCJ5
5B8 7@95B 9B9F;M  H H<9 G5A9 H=A9 
H=CB
HF5=B=B; 5B8 58J=GCFM G9FJ=79G :CF GH5FH

 8J=G=B;CB=ADFCJ=B;97C
A5H9F=5@
IDG  7CAD5B=9G 5B8 9BHF9DF9B9IFG 75B
81F5 1 C97>9K31>D 9=@13D ?> C31<9>7 E@
5>5B7I 56K395>3I
53? 9>>?F1D9?>C
 "B:CFA5H=CB5B86FC?9F=B;
$/1398=38<//-/%:+38<+8-/
CF =BGH5B79  H<9 -G C<9G=CB 5B8
=*5B *7- $58?.72* 272=2*=.- =1.
+HFI7HIF5@ IB8G 5F9 IG98  =B D5FH=7I@5F 
" $ :<94/->  >2<9?12
HC GIDDCFH B9HKCF?G 5B8 D5FHB9FG<=DG
A23-2 >2/C ./@/69:/. 0<+7/A9<5=
6M 9GH56@=G<=B; 7CAD9H9B79 79BHF9G 
09< ><+38381 +8. +.@3=9<C =/<@3-/=
7@IGH9FG CF G7=9B79 5B8 H97<BC@C;M

>9 =></81>2/8 >2/ 3889@+>398


D5F?G 5B85@GCH97<BC@C;MD@5H:CFAG5B8
,*9*,2=2.< 8/ 58,*5 $< 27 C.5-<
9>>?F1D9?>>5DG?B;C
90/8@3<987/8>+6>/-2896913/=+8.
=?=>+38+,6/6913=>3-=

)&$$%+ &%
>CE@@?BD9>753?9>>?F1D?BC2E9<4?>7??4
@B13D935C6B?=?D85B,B579?>C1>43?E>DB95C
D1;9>79>D?133?E>D2?D8D859BCE335CC5C1>4
619<EB5C

&23= 3= /@3./8> 38 >2/ =?::9<> 09<


1<//8 >/-2896913/= A3>238 >2/
:963-C 90 >2/ -9(9<6. %>C<3+
,5><=.;27><=;2*"5.*<.<..88-
";*,=2,.*<.
*<@.55*<27=1.
)/+6+8.+8.>2/+:3>+6$/1398=90
/87+<5A2/</+-6?=>/<2+=,//8
./@/69:/. >9 :<979>/ 9::9<>?83
>3/=09<-6/+8>/-2-97:+83/= 

6=9 >2/ 8A9<5= 383>3+>3@/ 38 >2/


!9<>2 (/=> 90 816+8. A23-2 3=
=?::9<>/. ,C >2/ $ A+= @/<C
=?--/==0?6 38 37:<9@381 </=9?<-/
./C,2.7,B27$< 

(*,!$-!'**%&!&-, '*!,!+
 ,) '&# 0$*,)*&)*,''&)+ %& %%&-+ &%*
 
  

 -+" +*+)& ,+(& &".-"$0(/+-4"*1&-+*)"*/,-+!0 /(+0-*!
,&/()-'"/.+,"**"../+/-!"*!&*1"./)"*/ +),"/&/&+*

    


5"//&*$,-& ".-&$%/5/%-+0$%"$ -+*/3"./-!(","-)&/.
-")+1(+#"*1&-+*)"*/%-)#0(.0.&!&".


 
 


 


    

-"#+-)* "."!
,,-+ %".

" %*+(+$4."!
./*!-!.*!-"$0(/&+*.

-& &*$)".0-".

"((&*$*! "-/&#& /&+*




+))"- &(&./&+*
.0,,+-/

" %*+(+$4/-*.#"-.

"/2+-'.*!
,-/*"-.%&,.

*#-./-0 /0-",-+1&.&+*

+AGD57'

0(& ,-+ 0-")"*/


 


 
0(& 

*#+-)/&+*."-1& ".

0,,+-//+0.&*"..

!0 /&+**!/-&*&*$

0,,+-//+
,-" +))"- &(&./&+*

   

$%* $*,)*
,<9G9A95GIF9GDFCJ=89=B8=F97HGIDDCFH
HC 97C
=BBCJ5H=CBG 6M 6CCGH=B; 89A5B8
5B8 7F95H=B; :5JCIF56@9 :F5A9KCF?
7CB8=H=CBG:CFH<9=FH5?9ID6MH<9A5F?9H 
*E38=51CEB5C31>9>3<E45
9G=;B=B;F9;I@5H=CBG5B8GH5B85F8G
GC H<5H H<9M :5JCIF 97C
=BBCJ5H=J9
DFC8I7HG G9FJ=79G5B8H97<BC@C;=9G
"BHFC8I7=B; ;F99B DI6@=7 DFC7IF9

A9BH )) =B7@I8=B;DF9


7CAA9F

7=5@DFC7IF9A9BH
9J9@CD=B;;F99B@569@@=B;5B879FH=

K31D9?>?6@B?4E3DC1>4C5BF935C
+H=AI@5H=B; DF=J5H9 89A5B8 :CF
;F99BDFC8I7HG5B8G9FJ=79GH<FCI;<

J5F=CIGG7<9A9GGI7<5GH5L6F95?G
97C
JCI7<9FG
5B8
=BBCJ5H=CB

JCI7<9FG 
"B7F95G=B; 7CBGIA9FG ?BCK@98;9
5B8 5K5F9B9GG C: 97C
=BBCJ5H=J9
DFC8I7HG5B8G9FJ=79G
F99B @569@@=B; 5B8 )) 5F9 5@F958M =B
IG9=BA5BM-7CIBHF=9G 5B8H<9F9<5J9
699B A5BM 75G9G C: )) H5F;9HG 69=B;
D=CB99F98 6M AIB=7=D5@=H=9G CF F9;=CB5@
1ED8?B9D95C

 ((5D;F7D;3;@ 
6;887D7@FBDA6G5F9DAGBE
:3H7477@67H7>AB764KF:7
GDAB73@A??;EE;A@:FFB

75 7GDAB3 7G
7@H;DA@?7@F
9BB
 

III 5F ;@@AH3@E 47

)&$$%+ &%
$1;59>>?F1D9F5EC5?6D85@?<93I9>CDBE=5>DC
D?3B51D5B579?>1<1>4<?31<45=1>46?B
53?9>>?F1D9?>


??4'B13D9351C5

%#!&&+%,
,!"'-+,*"%+1&"(+"+',/(*$
,*'+(*&"' /+,"',(*+(-*

*

)*(#,

(+,

+AGD57&!+(BG4>;53F;A@

#&+ &%
," .5CD$94<1>4C
,% %*&,)
)579?>?6.5CD
$94<1>4C,"?F5B>
=5>D)

,<9 "B
"B8IGHHF=5@@ +MMA6=CGG=G '9H
9HKCF? <9@DG HC =89BH=:M CDDCFHIB=H=9G HC F97CJ9F 5B8 F9DFC79GG
K5
5GH9DFFC8I
I7HGG:FCA
ACB9=B
B8IGHFMH<5H75BH<9B69F9
IG986MCH<9F6IG=B9GG9G ,<=G =BHIFB 
B54E35
B5
5CD8
D851
1=?E
E>D?6G
G1CD57?9>7D?<1>4K<<3EDC31B2?>5=9CC9?>C1>43B51D5C7B55>5B
>C6GG "B
B9GG
9GG9B79
9 =H=G5
52B?;5B1759>9D91D9F5HC=B7F95G96IG=B9GGCDDCFHIB=H=9G5B87CBHF=6IH9
HCHH<9
9GIG
IGH5=B56
56@9;
;FC
FCKH<C:H<9F9;=CB ,<9DFC>97HK5GD=@CH98=BH<9/9GH&=8@5B8G=B 
5B8
869
6975IGG9C:=HGGGI779GG=H<5G699BF9D@=75H9857FCGGH<9-$G=B79  ,<=GFC@@
CIH<5G
H5?9
H5
9BD@57
79IB89
89FH<9IA6F9@@5C:H<9'5H=CB5@"B8IGHF=5@+MA6=CG=G)FC;F5AA9'"+) 
,< DFFC;F5A
,<9
AA9 KCF?G 8=F97H@M K=H< 6IG=B9GG9G C: 5@@ G=N9G 5B8 G97HCFG  ,<9 B9HKCF? =G
A5B5
5;986
6M"BH9FB5H=CB5@+MB9F;=9G H<9KCF@8G@958=B;9LD9FH=BH<9DF57H=75@5DD@=75H=CBC:
=B8IGHF=5@GMA6=CG=G "HDFCJ=89GH<9HCC@G5B8H97<B=EI9GHC9B56@9H<9D5FH=7=D5H=B;
KKB=CD?133EB1D5<I945>D96I9> 8?EC5=1D5B91<CDB51=C
+89C41D19C3?<<53D541>4?D85B
FF9;=CB5@7CAD5B=9G5F9=BJ=H98HC5HH9B854+MB9F;MKCF?G<CDK<9F9 5H@5B95>354
;@9
3F
7D
7@
69
3@
FE
AE
,,1'7564,$/5;0%,25,534$&6,6,21(45$1$/;5(6+('$6$$1','(16,);6+(342A6$%/(
OGFF;@95
E ;E A8
?
73
EFD
7
A?
<9>;C D81D =978D 25 5CD12<9C854 25DG55> 3?=@1>95C CF 9L5AD@9G  A95H 5B8
;@5
@7I
K 4GE;@7EE
7D
7H

FA
F
7E
6CB9A95@DFC79GG98:FCA5B=A5@6M
DFC8I7HG=GBCK69=B;IG98HC:I9@79A9BH
7D
;@F
AD ?3D=7F
?=@BG
I:3F7H7D E75FAD

KAGND7;@P 

(7F7D$3K4AGD@
;D75FAD
&!+((DA9D3??7

,C 85H9  5FCIB8 Z A C: * :IB8=B; <5G 699B 5@@C75H98 H<FCI;< H<9
DFC;F5AA9 K<=7<<5G5@GC5HHF57H985G=A=@5F5ACIBHC:7C
:IB8=B; ,<9GHFCB;
F9;=CB5@ ;CJ9FB5B79  J=5 DFC;F5AA9 58J=GCFM ;FCIDG H<5H 5F9 =B8IGHFM
@98  <5G
DFCJ98HC69=AA9BG9@M=ADCFH5BH=B9B;5;=B;K=H<H<96IG=B9GG7CAAIB=HM 

,<9"B8IGHF=5@+MA6=CG=G'9HKCF?<5GDFC8I798=ADF9GG=J9F9GI@HG  D9C5CD9=1D54D81D9>D85
,"D85@B?7B1==581C3?>DB92ED54D?1B54E3D9?>?6 =9<<9?>D?>>5C?631B2?>49?H945
',8(46(' 6+275$1'6211(52)9$56()420/$1'A//*(1(4$6('@  %,//,21,1$'',6,21$/
C1<5C1>43B51D54?BC1657E1B454?F5B


:?2C

$1&++ 
,<9GI779GGC:H<9=B8IGHF=5@GMA6=CG=G=B=H=5H=J9=G@5F;9@M8I9HCH<9:57HH<5H=H=GDI6@=7@M
6E>4541>4?665BC25>5KDCD?2EC9>5CC5C6B?=1>IC53D?B


?B6EBD85B9>6?B=1D9?>@<51C5C55
8DD@ GGG
>9C@
?B7
E; B579?>
1C@H

(*,!$-!'**%&!&-, '*!,!+

%1.2=B8/>-*9.<=@*<=1.C;<= ,<9 9=@<5=5>D1D9?> ?6 ) *  13D9F9D95C


69-+6+?>29<3>C38?81+<C>9+.9:> 144B5CC9>7 CECD19>12<5 7B?GD8 75B
+ 1<//8 :<9-?</7/8> =-2/7/ C 6?<<?G1>I?6D85C5D8B55CDB1D5795C

>23=:<+->3-/2+.=:</+.+8.
 41@D9>7
5H9CD9>7
=51CEB5C
>2/ +88?+6 ## @+6?/ 38 ?81+<C
@B?7B1==5C13D9F9D95CQ"BHFC8I7=B;
2+.</+-2/.H 7

97C
=BBCJ5H=CB H5F;9HG 75B =ADFCJ9
!CK9J9F  DF9
7CAA9F7=5@ 5B8 *
H<9 9BJ=FCBA9BH5@ 5B8 97CBCA=7
DFC7IF9A9BH :C7IG98 CB 97C
=BBCJ5

D9F:CFA5B79 C: 9L=GH=B; DC@=7M


H=CBGC77IFGCB@M=B=B@5B8 "H5@M5B8H<9
A95GIF9G 5B8 F9;=CB5@  B5H=CB5@ 5B8
&5D85B<1>4C
<?31<@B?7B1==5C
&2/ </1398 90 &?<5? 38 386+8.
-99:/<+>/. A3>2 >2/ 3883=2
?8.381 1/8-C 09< &/-289691C
*7- 778?*=287 %.4.< =8 2695.
7/8> :<9-?</7/8> :<9-/.?</=
09<>2/=?::6C90:+==3@/29?=/=
>9 ,/ ?=/. 09< =9-3+6 29?=381
>2<9?12>2/%?=>+38+,6/977?
72=2.< *7- 778?*=2?. ">+52,
#<9-?</7/8>:<91<+77/=%97/

 29?=/= A/</ :6+88/. >9 ,/
,?36> +8. >2/ =/6/->398 -<3>/<3+
09< >2/ >/8./< 38-6?./. + -+6-?
6+>398 90 >2/ 630/-C-6/ -9=>= +8.
>2/ 6/@/6 90 "  /73==398= 0<97
>2/ :<9:9=/. 7/>29. 90 /8/<1C
:<9.?->398
&CF9:5F
F957<=B;F9GI@HG75B6957<=9J98
6M @B?=?D9>7 CI>5B795C 25DG55>
45=1>41>4CE@@<I=51CEB5C
&2/3>C90+=/638%A3>D/<6+8.3=
+8/B+7:6/>2+>-97,38/=,?36.381
;.0>5*=287<*7-C7*7,2*527,.7=2?.<
>938-</+=/>2/8?7,/<903>=1<//8
<990=&2/7?83-3:+63>C38><9.?-/.
  8 38-/8>3@/ :<91<+77/ 90
C7*7,2*5 <>998;= /8; 0;..7 ;88/
38=>+66+>398=
   </=/+<-2 1<+8> >9 38@/=>3
0*=. =1. +.7.C=< 8/ 0;..7 ;88/<
@*< *@*;-.- =8 =1. &72?.;<2=B 8/
::63/.%-3/8-/=38(E./8=A36
8/A?36.381+8.98=><?-
>398 +A >2+> =>3:?6+>/. >2+> +66
7.@*7-.A2<=270D*=;88/<6><=+.
1<//8/. 

 III =F=57E :G3@63>EA


((&7IE3>7DF

 ?AD77J3?B>7EA@((
3D7A@:FFB

75 7GDAB3 7G

CF 9L5AD@9  5IH<CF=H=9G 75B


F989G=;B H<9=F DI6@=7 DFC7IF9A9BH
DFC798IF9G6M=BHFC8I7=B;;F99B9F
F9EI=F9A9BHG :CF DFC8I7HG 5B8
G9FJ=79G 5B8 9GH56@=G<=B; 7@CG9F
F9@5H=CBG<=DG K=H< GIGH5=B56@9
GIDD@=9FG 

7@H;DA@?7@F
9BB
53E727@ :F?

L=GH=B;
K5GH9
A5B5;9A9BH
G7<9A9G5B8CB
;C=B;7@95BDFC8I7

H=CB DFC;F5AA9G 75B 69 F9J=9K98


HC 7@95B H<9 9BH=F9 J5@I9 7<5=B 5B8
HF5BG:CFA H<9G9 DFC;F5AA9G =BHC
7@CG98 7M7@9G K<9F9 K5GH9 =G IG98
5G 5 F9GCIF79  CF 9L5AD@9  H<9
@5B89FG F9;=CB C: 9@;=IA <5G 5
4,F5BG=H=CB&5B5;9A9BHDFC;F5AA9
H<5H <5G :C7IG98 CB 7@CG=B; H<9
A5H9F=5@7M7@95B8=BHFC8I7=B;K5GH9
DF9J9BH=CB DF=CF=H=9G =BHC =HG K5GH9
A5B5;9A9BHDC@=7M 

 :FFB

75 7GDAB3 7G

 :FFB

III 9D34E7G AD9

53E7EFG6;7E B:B

7@H;DA@?7@F
9BB
53E727@ :F?

 III AH3? 47
<3:;3
"3:;3

B;6
>3@97@

 +5CD9>7
1>4
45=?>CDB1D9>7
97C
=BBCJ5H=CB
5F9
=ADCFH5BH
57H=J=H=9G =B 5B *"+  ,<9M 75B <9@D
HC6I=@897C
=BBCJ5H=CB9LD9FH=G95B8
9LD9F=9B79 =B F9;=CBG 5B8 7CIBHF=9G 
5B8 H<9M 75B 5@GC 7CBHF=6IH9 HC
H<9 89J9@CDA9BH C: 7CAD9H=H=J9
97C
=BBCJ5H=J9 7CAD5B=9G 5B8
=B8IGHF=9G ,<9G957H=J=H=9G75BF5B;9
6B?=<?GB9C;@9<?D9>9D91D9F5CCE381C
7,8>;*0270
.,8./C,2.7,B
7/+=?</=38% =+=38>2/99.
";*,=2,. *<. "&$1.,4 27
/<7+8C
,CACF9F=G?M*
65G98DFC>97HGH<5H
5=A HC 89J9@CD BCJ9@ 97C
=BBCJ5H=J9

??4'B13D9351C5

,'/*+!*-$*'&'%1

+AGD57(>3@7FD77@I74E;F7:FFB

H;67A B>3@7F9D77@ 6;E5AH7DK 5A?




.'%(+%+-),!*%,(
*%))*(!

*

)*(#,

(+,

#&+ &%
%5D85B<1>4C -5><?
,% %*&,)
'B?F9>35?6#9=2EB7
ED38?F5B>=5>D
)

,<9A
A5=BD
DF9A
A=G9
9C:H<
<9F58
58@9HCF58@9TD<=@CGCD<M=GH<5HDFC8I7HG75B6989G=;B98=G
GI7<
7<5K
K5MHH<5H5:H9F
FHH<9=FB
BCFA5@@=:9H=A9H<9M75B69D9FD9HI5@@MF9
IG98:CFGCA9H<=B;B9K 
/5GH95
5B8
8CHH<9FA5
A5H9F=5@@G75B9=H<9F69F9HIFB98HCH<99BJ=FCBA9BH5G6=C@C;=75@GI6GH5B79G
CF 7=F
=F7I
I@5
@5H9
9 5G F9
F9GCIF79
79G K=H<=B 7@CG98
@CCD =B8IGHF=5@ 7M7@9G  K=H<CIH 69=B; F9@9;5H98 HC 5
@CK
K
;F
;F5
589IG9
9 ,<9FF9;=CBC:.9B@C @C75H98=BH<9GCIH<95GHC:H<9'9H<9F@5B8G =G89J9@CD=B;
49F5
5BC5
59>9D91
1D9F5CD8
D81DD5CDD85B14<5D?B14<5M3?>35@D9>@B13D935
!D9C1<C?D85KBCD
F9
9;=C
CB=BH<
H<9KC
CF@
F@8HC5DD@MH<9DF=B7=D@9GCBGI7<5@5F;9G75@9 
,< 89J
,<=G
9J9@CD
DA9BH K5G =BGH=;5H98 6M 5 8C7IA9BH5FM 56CIH   K<=7< K5G 6FC5875GH CB
IH7
7<H9@9J=
J=G=CB=B  "HDFCJ98HC69GC=BGD=F5H=CB5@H<5H.9B@CHIFB98=HG9@:=BHC5F9;=CB
H<5H
5H9LD9
9F=A9BHGK=H<PH<9K5MK9A5?9H<=B;GR /=H<H<9GIDDCFHC:H<9DFCJ=B79C:%=A6IF;
5B8H<9
9IH7< CJ9FBA9BH .9B@C@5IB7<985B1=29D9?EC@<1>D?2??CDC?391<53?>?=93
1>45
5>F9B?>=5>D1<G5<61B59>D85B579?>G89<CD1<C?3B51D9>71 ;>?G<547521C5D81D
3?
?E<4255H@?BD5413B?CCEB?@51>425I?>4
IFF9BH@M=B.9B@C H<9DF=B7=D@9G5F9BCHCB@M5DD@=98HCH<9=1>E613DEB5?6@B?4E3DC 6IH
5@GCHCH<989J9@CDA9BHC:<1B752E9<49>7C5B8H<9?B71>9C1D9?>?6<9F9>71>4G?B;9>71B51C
,<97=HMG@B?3EB5=5>D3B9D5B91GH=AI@5H9=BBCJ5H=CB6MGH5H=B;89G=F98H<9CIH7CA9GGI7<5G
12E9<49>7D81D@B?4E35C?HI75>?B@EB9K5CG1D5B1>4D8ECD85I@B?=?D51C=E383B51D9F9DI1C
DCGG=6@9 ,<9F9=G5@F958M5GHFCB;7CAAIB=HMC:H<CG99BH9FDF=G9GH<5H5F989JCH98HCH<9
D<=@CGCD<M "BGH958C:5=A=B;G=AD@MHCF98I79H<9=FB9;5H=J9=AD57HGCBH<99BJ=FCBA9BH H<9M
5F957H=J9@MG99?=B;K5MGC:A5?=B;DCG=H=J9=AD57HG 5B85F95@GC;9B9F5H=B;ACB9MH<FCI;<
H<=G5DDFC57< 
.9B@C=GBCK7CBHF=6IH=B;=HG9LD9FH=G9HC57C@@56CF5H=J9ZAIFCD95BDFC>97HH<5H=G@986M
H<9=B8<CJ9BF9;=CB5B8<5G 7C
:IB8=B;:FCAH<9* "BH<=GDFC>97H H<9D5FHB9FGK=@@
89J9@CD=BGHFIA9BHG5B8;I=89@=B9GK<=7<G=AD@=:MH<9=AD@9A9BH5H=CBC:F58@9HCF58@9T
=B6IG=B9GG5F95G
$1&++ 
"B.9B@C H<9AIB=7=D5@5IH<CF=H=9G<5J9699BD=JCH5@=B7F95H=B;7CB8=H=CBG:CF=B=H=5

H=J9G 6M :CF;=B; DI6@=7


DF=J5H9 D5FHB9FG<=DG  GIDDCFH=B; =BBCJ5H=CB  9LD9F=A9BH5H=CB 5B8
89ACBGHF5H=CB IG=B;DI6@=7DFC7IF9A9BH5G5DCK9F:I@HCC@5B889J9@CD=B;DF=B7=D@9G
5B8H5F;9HG 
?B6EBD85B9>6?B=1D9?>@<51C5C55

8DD@ GGG
335H@?<12
5E

8DD@ GGG
F5><?F5B>95EGD
>< 5> CD14C;1>D??B 3B14<5 D? 3B14<5


(*,!$-!'**%&!&-, '*!,!+

C?<ED9?>C<9;5
&2+>90>2/D/-2$/:?,63-A2/</
?83@/<=3>C </=/+<-2 </=?6>/. 38 +
-97:6/>/6C8/A>C:/90,39./1<+.
*+5. 6*=.;2*5 "5.*<. <.. 88-
";*,=2,.*<.
,<9 F9;=CB5@ DC@=7M :IB8G 5F9 5@GC
5J5=@56@9 HC GIDDCFH F9G95F7< 5B8
=BBCJ5H=CB 7@IGH9FG 5B8 B9HKCF?=B;
9> 7B55> D538>?<?7I K5<4C
 &5DG?B;
GIDDCFH DFC;F5AA9G 75B 5@GC
=B8=F97H@M GIDDCFH GH5H9
C:
H<9
5FH
97C
=BBCJ5H=CBG K=H<=B 7@IGH9FG 5B8
7CAD5B=9G)@95G9G99 CC8)F57H=79
5G9  C: H<9 IGHF=5B 7C
/CF@8
+HMF=5;F99BH97<BC@C;M7@IGH9F
 %?F5<
<1B75C31<5
=51CEB5C
K<=7< 75B C::9F K=89F DCGG=6=@=H=9G
:CF 97C
=BBCJ5H=CBG  9GD97=5@@M :CF
GMGH9A=797C
=BBCJ5H=CBDFC>97HGGI7<
5GGIGH5=B56@97=H=9G B9=;<6CIF<CC8G
5B8F9;=CBG5B8=B8IGHF=5@GMA6=CG=G 
"BGD=F=B; 9L5AD@9G 9L=GH H<FCI;<CIH
IFCD9 5B8 H<9M 75B C::9F H<9=F
<5F8
KCB9LD9F=9B79HCCH<9FF9;=CBG 
39D95C1>49>4ECDB91<>5DG?B;C
'/869 38 >2/ !/>2/<6+8.= ,/-+7/
=1.C;<=;.028727=1.@8;5-=8*995B
-<+.6/>9 -<+.6/ :<38-3:6/= 38 +66
90 3>= =:2/</= 38-6?.381 7+8?0+-
>?<381 ,?36.381 9<1+83=+>398 90
63@381 +8. A9<5381 +</+= +8.
9>+52, 9;8,>;.6.7= "5.*<. <..
88-";*,=2,.*<. 
7-><=;2*5 <B6+28<2< 9;80;*66.<
2+@/ ,//8 =?--/==0?6 :+<>3-?
5*;5B 27 =1. & "5.*<. <.. 88-
";*,=2,.*<. %12<9;80;*66.
./@/69:/.
7+8C
=C8/<13/=
,/>A//8 @+<39?= 38.?=><3/= +8.
-97:+83/= 1/8/<+>/. 8/A 49,=
+8. 2+. + @/<C :9=3>3@/ /8@3<98
7/8>+637:+->>2<9?12./-</+=381
A+=>//73==398=/8/<1C69==+8.
8+>?<+6</=9?<-/38:?>=

"5.*<. <.. 88- ";*,=2,. *<.


 *7- *66*;+B $3E<=*- 38
%A/./8 38@/=> 38 =?=>+38+,6/
,?36.381= /8/<1C A+>/< A+=>/
+8. 79,363>C 380<+=><?->?</= +8.
:<979>/-2+81/=>9A+<.==?=>+38
+,6/ ,/2+@39?< +8. 630/=>C6/=
=?=>+38+,6/ 79,363>C +8. =?=>+38+
,363>C9<3/8>/./.?-+>398

 III :3??3D4KE<AEF36 E7

 :FFB

75 7GDAB3 7G

D79;A@3>2BA>;5K
EAGD57E

6A597@7D
7H3>G3F;A@
7H3>E76

9G;67
;@67J27@ :F?

)&$$%+ &%
>45C97>9>7=?>9D?B9>71>45F1<E1D9?>
6B1=5G?B;C6?BCDB1D5795C@B?7B1==5C1>4
13D9F9D95CE>45B) * 3?>CE<D5H@5BDC1>41<C?
D85B5C?EB35C1F19<12<5?>D85@<1D6?B=?6D85
?==9DD55?6)579?>C
$*,) %')&)** %
& %%&-+ &%')&!+*%
')&)$$*
/<=@9 D@5BB=B; 97C
=BBCJ5H=CB :C7IG98
DFC>97HG 5B8 DFC;F5AA9G  &5B5;=B;
IH<CF=H=9GG<CI@85DD@M57CADF9<9BG=J9
&CB=HCF=B; 5B8 J5@I5H=CB & :F5A9

G?B; G9D8 1 G5<< 45K>54 1>4 =51CEB12<5


G9HC:=B8=75HCFGH<5HK=@@HF579DFC;F9GG=B
57H=J=H=9G  CIHDIHG 5B8 F9GI@HG  "H =G =ADCF

H5BHHCIB89FGH5B8H<5HH<9K=89J5F=9HMC:
97C
=BBCJ5H=J9 GC@IH=CBG 5B8 H<9 DFC>97HG
5B8DFC;F5AA9GH<5HDFCACH997C
=BBCJ5

D9?> 5138 B5AE9B5 C@539K31<<I 45C97>54


& GMGH9AG 5B8 =B8=75HCFG HC A95GIF9
H<9=FDFC;F9GG 

/<=@9H<=G;I=89DF9G9BHGGCA99L5AD@9G
C: =B8=75HCFG H<5H 75B 69 IG98 =B
97C
=BBCJ5H=CB DFC>97HG 5B8 DFC;F5AA9G
)@95G9 G99 =;IF9   DFC;F5AA9
89J9@CD9FG G<CI@8 F9:9F HC F9GCIF79G 5B8
;I=89G:CFH<9ACB=HCF=B;5B89J5@I5H=CBC:
DFC;F5AA9G 5B8 DFC>97HG GI7< 5G H<CG9
CB H<9 CAA=HH99 C: *9;=CBG 898=75H98
D@5H:CFA  ,<9M G<CI@8 5@GC 7CBGI@H
%?=>+38+,6/ -3>3/= 383>3+>3@/= 635/ ACB=HCF=B; 5B8 9J5@I5H=CB 9LD9FHG 8IF=B;
&A//A+>/<= 38 /?@/8 /613?7 H<9=FD@5BB=B;DFC79GG9G 



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%


 ,) /$'#*& % +&)*+&,* %& %%&-+ &%')&)$$*%')&!+*

)*&,)
% +&)*

&,+',+
% +&)*

&?
?63? (1D5>DCK<54
=B5B79=BJ9GH98

=B5B795@@C75H98:CF*"
=B97C
=BBCJ5H=CBDFC>97HG

!IA5B9::CFH=B
97C
=BBCJ5H=CB57H=J=H=9G
85MG

,F5=B=B;5B875D57=HM
6I=@8=B;85MG Z

(F;5B=G5H=CB5@CFF9;I@5

HCFMA95BG=BHFC8I798

'C C:DI6@=75H=CBGCB
97C
=BBCJ5H=CBGI6A=HH98
HC>CIFB5@G

'C C:7CAD5B=9GK=H<
=ADFCJ989B9F;M A5H9F=5@
56K395>3I@B?@5BD95C

'C C:+&57EI=F98
%* ?D85B53? 35BD9K

75H9G

'C C:+&GF979=J98
HF5=B=B;=BF9GCIF795B8
9B9F;MA5B5;9A9BH

)*,#+
% +&)*
%- )&%$%+#
(F98I798
/5H9F 5=FCFGC=@EI5@=HM=ADFCJ98
*98I79897C
:CCHDF=BHC:DFC8I7HG 
DFC79GG9G 7CAD5B=9G
& %%&-+ &%
DD@=75H=CBC:97C
D5H9BH=BDFC8I7H
)CDI@5F=HMCFG5@9GC:H<9B9KDFC8I7H=B
@C75@A5F?9H
+H5FHC:GD=B
C::G65G98CBH<9*DFC>97H
=B=H=5H=J9
&%&$ 
!>3B51C59>B5C?EB3556K395>3I?B@B?4E3D9F9DI
5;9G5J=B;G
(B?KD6B?=53? 9>>?F1D9F52EC9>5CC
"B7F95G9=BHIFBCJ9F F9J9BI9G F9HIFBCB
=BJ9GHA9BH
*& #
"ADFCJ98EI5@=HMC:@=:9
'C C:;F99B>C6G7F95H98
5;9C:D9CD@9K=H<=ADFCJ985779GGHC5
GIGH5=B56@95B869HH9F=B:F5GHFI7HIF9

%*,$$)0
"H=G=ADCFH5BHHCBCH9H<5H89GD=H9H<9H<9A5H=75B8G97HCF5@8=J9FG=HM 97C
=BBCJ5

H=CB=B*"+G<CI@869588F9GG98J=5H<9G9HC:DC@=7MA95GIF9GH<5H7CI@8:I9@
=BBCJ5H=CB=BA5BMG97HCFG "H=G9GG9BH=5@HC7F95H9589A5B8:CF97C
=BBCJ5H=J9
DFC8I7HG G9FJ=79G H97<BC@C;=9G5B8A5B5;9A9BHDF57H=79G ,<95IH<CF=H=9G
G<CI@8A5?969GHIG9C:H<9577IAI@5H98;CC8DF57H=79G=BCH<9FF9;=CBG5B8
7CIBHF=9G:CF:57=@=H5H=B;GIGH5=B56@9;FCKH<=BH<9=FCKBF9;=CBCF7CIBHFM



??4'B13D9351C5

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

*

)*(#,

(+,

+AGD57DFL47D9I74E;F7

#&+ &%
5<79E= #5EF5>
,% %*&,)
<5=9C8?F5B>=5>D
''B9F1D5 >F5CD
=5>D

,<
,<9,K99
99K
K5H9FG7
K5H
7CAAI
IB=
B=HHM=GH<
H<9@5
@5F;
F;
;9G
9GHH9>>5
>5BB39DI4
45F
5F5<?@=5>D=B9@;=IA "HGC6>97H=J9=G
HC7
7CBJ
CBJ9FH
<97HH5F
5F9GC
C:5
5@5
5F;
F;9
9=B
=B8
8IGHHF=
F=5
5@NCB9
9=B
=BHC5GIGH5=B56@9IF65B5F95 ,<=G5F95K=@@
81  4
81F5
 4G5<<9>7C
7C1>4
>4?
?6K
6K3
35CD?
D?G5<3?=5
G
=59DC >5GB5C945>DC1>4G9<<@B5C5>D9DC5<61C
5
GH7
79B
9BHIFM
FMHC
HCKB
B ,<9
,<9DFC>9
>97H
7H=GD5
5FHC:H<9B9F;M!I689ACBGHF5H=CBDFC>97HK=H<=BH<9)
C
6?
?B9=
9=@B?F
?F9>
9>7
75>
5>5B
5B7
7I56K
6K39
395>3II1
1D4
49CDB93D<5F5<
!D2571>9>535=25B G9D81D?D1<2E475D
C:Z
Z
 
A5B
5B8
8G<CI
CI@@8697C
7CAD@9H986MH<99B8C: 
,<97
,<9
7=HM8
89J
9J9@CD9F
9FFHN69F; 5@CB;K=H<9LD9F=9B798=B8IGHF=5@D5FHB9FGGI7<5G.",( B97C 

>5B
5B7I
7I!+1>
>4
1>1<3?81C45K>5418?<9CD93F9C9?>6?BD85+G55G1D5BC45F5<?@=5>D9>G8938
H5?9G57
H5
577
7CIBHC:5@@5GD97HGC:AC89FBGC7=9HM B9GG9BH=5@D5FHC:H<=GJ=G=CB=G1>1=29D9?EC
CECD
CE
CD19>12<51>453?<?7931<1@@B?138
,K99K5H9FGK=@@<5J93?=@13D2E9<49>7CK=H<5A5L=AIA=BH9;F5H=CBC:GIGH5=B56@9A5H9F=5@G
H<5HK=@@@958HC5 (:CCHDF=BHF98I7H=CB5B8897F95G9H<9<95H89A5B86M B9K
HMD9 C: 8=GHF=7H 5>5B7I 9>6B1CDBE3DEB5 =G 69=B; 89J9@CD98 =B7@I8=B; 58J5B798 GMGH9AG :CF
A5H7<=B;GIDD@M5B889A5B8C:9B9F;M5B8=B7CFDCF5H=B;58J5B798<95HGHCF5;9H97<BC@C

795CCE381CD85B=? 385=931<=1D5B91<C
+85B5=19>9>75>5B7I>554CG9<<256E<K<<54G9D8 
@C75@@M
DFC8I798;F99B9@97HF=7=HM5B8;F99B<95H=B;H<5HK=@@9J9B6956@9HCGIDD@M9B9F;M
HCH<9GIFFCIB8=B;B9=;<6CIF<CC8G ,<9DFC>97H=G5@GCH5?=B;CB6C5F8G1CD5=1>175=5>D
G1D5B B53I3<9>7 =?29<9DI 1<D5B>1D9F5C EC5 ?6 C@135 3?>CE=@D9?> 5B8 >5G 2EC9>5CC
=?45<C :CF @C75@ DFC8I7H=CB  ,<9 AC89@ H<5H <5G 699B 89G=;B98 F98I79G H<9 =B=H=5@ 9B9F;M
7CBGIADH=CB6M5B89GH56@=G<9G,K99K5H9FG5G5(B9;5H=J98=GHF=7HH<5HK=@@DFC8I79
5B5BBI5@G5J=B;C:ACF9H<5B HCBB9GC:( 
,<9 DFC>97H 89ACBGHF5H9G 5B 5A6=H=CIG 7CB79DH H<5H <5G 699B 9A698898 =B H<9 DF57H=75@
7CBGHFI7H=CB57H=J=H=9G ,<98=::9F9BH5GD97HGC:H<9,K99K5H9FG=B=H=5H=J95F969=B;89J9@CD98
=BGI7<5K5MH<5HH<9M5F9HCH5@@MF9D@=756@9=BCH<9F7=HM8=GHF=7HG

$1&++ 
,K99K5H9FG =G 5 AC89@ K<=7< 89ACBGHF5H9G H<5H 97C@C;=75@ 7CB79FBG 5B8 7CA:CFH56@9 
15CD85D93<9F9>731>7?81>49>81>41>41DD85C1=5D9=5D89C=1BB917531>C97>9K31>D<I
F98I79H<99B9F;M6=@@GC:H<9=B<56=H5BHG 
?B6EBD85B9>6?B=1D9?>@<51C5C55
KKK HK99K5H9FG 69



??4'B13D9351C5

(*'%',!&+-+,!&$
%,*!$+
2!(&)'1"',*(-+'/"( *%*"

*

(+,

#&+ &%
J538)5@E2<93
%1D9?>G945
,% %*&,)
J538?F5B>=5>D
)
'B9F1D5 >F5CD=5>D
NN97<7C
CAD
AD5B
BM75@@@98+,
,.(+<@IA97B =8@<5G89J9@CD981E>9AE529?457B1412<5
=1
1D5B91<==B7
7CCD
CD9F5H=C
=CBK=H<
<H<9-B=J9FG=HMC:!F5897$FV@CJW :H9F579FH5=BD9F=C8C:H=A9H<=G
A5H9F=5
5@8
897CADCGG9G=BHH<9GC=@5B88C9GBCH=ADCG95BM97C@C;=75@6IF89BCBH<99BJ=FCB

=5>DD
'>
'>5
51
1@@<93
31D9?>?
?6D89C=1D5B91<G9<<259>D85=1>E613DEB5?6L?G5B@?DCD81DG9<<=1;59D
AI
I7<95G
5G=9FHC
CD@5BHHHF99GK=H<CIH89GHFCM=B;H<9=FFCCHGMGH9AG IFF9BH@M BCG=A=@5FDFC8I7H
=G5
=G
5J5=@=@5
56@9C
CBH<9
9A5F?9H 
,CI
IDG75
5@9
@9H<=G
G==BBCJ5H=CBHCH<9DFC8I7H=CBGH5;9 H<97CAD5BM5DD@=98:CF5;F5BH5B8K5G
1G1B45
1G
54 3? K
K>1>39>7 2I D85 ) G9D89> D85 6B1=5G?B; ?6 D85 '@5B1D9?>1< (B?7B1==5 ?>
BH9FD
FDF=G95
5B8"BBCJ5H=CB()" ,<=G:IB8=B;K5GIG98HCDIF7<5G9B9KH97<BC@C;=9G:CF
H<9
9 A5GGG DFC8I7H=CB C: H<9 6=C89;F5856@9 A5H9F=5@  H H<9 G5A9 H=A9  H<9 DFC8I7H=CB @=B9G
G5B5=
=?49K54D?5>CEB51>1ED?=1D938978 AE1<9DI1>4B5<912<5CICD5=
+85D?D1<2E475D?6D85
DFC>9
97HK5G2$  CFZ  C:K<=7<75A9:FCAH<9()" ,<9B9KH97<BC@C

;=9
9G<5J99B56@98H<97CAD5BMD?9>3B51C59DC@B?4E3D9F9DI2I1613D?B?66?EBD?5>81>35
D85AE1<9DI?69DC@B?4E3DC1>4B54E359DC5>5B7I3?>CE=@D9?>2I
D8
,<99BH9FDF=G95B8H<9IB=J9FG=HMK=@@7CBH=BI9HC7CCD9F5H9=BH<989J9@CDA9BHC:9J9B69HH9F
L?G5B@?DC G8938 G9<< @B?=?D5 D85 7B?GD8 ?6 D85 @<1>DC B??D CICD5= 1>4 5>CEB5 D81D 9D 81C
5779GGHC:9FH=@=G9FCJ9F5@CB;9FD9F=C8C:H=A9 ,<97CAD5BM=G5@GC9LD@CF=B;H<9DCGG=6=@=H=9G
C:5DD@M=B;B9KH97<BC@C;=9GHC:CC8D57?5;=B;5B8CH<9FDFC79GG9G

$1&++ 
+IDDCFH=B; H<9 =BBCJ5H=J9 DCH9BH=5@ C: 6IG=B9GG9G D5J9G H<9 D5H< HCK5F8G GIGH5=B56@9
;FCKH< 



(*,!$-!'**%&!&-, '*!,!+

,)+)) %
& %%&-+ &%

*&,)
& %%&-
+ &%&*)
-+&)0

%- )&%
$%+
& %%&-
+ &%+ &%
'#%
'#+&)$
&
,%'

,)+)) %
*)
& %%&-+
&%'+ &%

.)
+& % +

,<=G D@5H:CFA DF9G9BHG GHFI7HIF98 =B:CFA5H=CB 5B8 85H5 CB


53? 9>>?F1D9?>
 !D 3?>D19>C , %5=25B *D1D5 @B?K<5C D85
7C
"BBCJ5H=CB+7CF96C5F85B85B5@MG9GC:9A9F;=B;5B8@958=B; KKK 97C
=BBCJ5H=CB
97C
=BBCJ5H=CB 5F95G 5B8 H<9=F 65FF=9FG 5B8 8F=J9FG  ,<9 ;CC8 9I
DF57H=799L5AD@9F9DCG=HCFM<5GCJ9F 9L5AD@9GC:GI779GG:I@
97C
=BBCJ5H=CB=B=H=5H=J9GH<5H75B=BGD=F9B9KDFC>97H=895G
,<=G K96 DCFH5@ =B7@I89G 5FH=7@9G CB 97C
=BBCJ5H=CB DC@=7M
A5HH9FG  ;CC8 DF57H=79G  *  6IG=B9GG 5B8 :IB8=B;  5G K9@@
5G 9LD9FH =BH9FJ=9KG  ,<9 7C) CFIA DFCJ=89G 5B =BH9F57

H=J9 D@5H:CFA K<9F9 H<9 97C


=BBCJ5H=CB 7CAAIB=HM  =B7@I8=B;
B5H=CB5@ 5B8 F9;=CB5@ 5IH<CF=H=9G  75B 8=G7IGG 5B8 9L7<5B;9
H<9=F9LD9F=9B79G=BDFCACH=B;97C
=BBCJ5H=CB=BIFCD9 

8DD@ 53
5EB?@1

9I 9BJ=FCBA9BH
97C5D =B89L3
9B <HA

,<=GK96DCFH5@7CBH5=BGDI6@=75H=CBG ;I=89G DC@=7M6F=9:G5B8 KKK C978 CF;


DF9G9BH5H=CBGCB;F99B;FCKH<5B897C
=BBCJ5H=CB 
=BBCJ5H=CB ;F99B

+ *'
)%

,<=GK96DCFH5@=G5F=7<GCIF79C:=B:CFA5H=CB5B8;I=89@=B9GCB
@=:97M7@9H<=B?=B; @=:97M7@9A5B5;9A9BHDF57H=79G GIGH5=B56@9
F9GCIF79 A5B5;9A9BH  GIGH5=B56@9 89G=;B 5B8 GIGH5=B56@9 KKK IB9D :F G7D
DFC7IF9A9BH "HG<CI@869IG9:I@HCDI6@=75IH<CF=H=9G 7CAD5

B=9G5B8BCB
GD97=5@=GHA5B5;9FG

#,
&%&$0
.'&)+#

,<=G=G5F9DCG=HCFMC:;CC8DF57H=799L5AD@9GCB97C
=BBCJ5H=CB "H5@GC 8DD@ GGG

DFCJ=89GG9J9F5@F9DCFHGH<5H5F9F9@9J5BHHC97C
=BBCJ5H=CBH<9A9G 
6@I997CBCAM 9I

 +# $+
"

,<=GK96G=H9DFCJ=89G=B:CFA5H=CBCBH<957H=J=H=9GC:H<97@=A5H9
=BBCJ5H=CB7CAAIB=HM=BIFCD9 K<=7<:C7IG9GCBH<9A5B5;9

A9BHC:7@=A5H98F=J9FG K5H9FA5B5;9A9BH @CK75F6CB7=H=9G


8DD@ GGG

5B8 N9FC 75F6CB DFC8I7H=CB  "H =G C: =BH9F9GH HC 6IG=B9GG9G 
7@=A5H9
?=7 CF;
98I75H=CB9GH56@=G<A9BHG5B8F9G95F7<CF;5B=G5H=CB5GK9@@5G
@C75@5B87=HM5IH<CF=H=9G 5GA5BMC:H<9=BBCJ5H=CBG5F989ACB

GHF5H985B8H9GH98=B@C75@9BJ=FCBA9BHG

%%&-+ &%
**

,<=GK96
HCC@:95HIF9GGH5H9
C:
H<9
5FH9BJ=FCBA9BH5@*F9GI@HG
5B85B9L<5IGH=J997C
=BBCJ5H=CB:IB8=B;;I=89 "H5@GCDF9G9BHG
G7F99B98 9BJ=FCBA9BH5@ * F9GI@HG 5B8 DFCJ=89G :IB7H=CB5@
KKK
H97<B=75@89G7F=DH=CBGH<5H5@@CK7CAD5B=9G5B8DC@=7M
A5?9FG
=BBCJ5H=CBG998G 9I
D? E>45BCD1>4 D859B C@539K3 EC5 1>4 F1<E5
  !>>?F1D9?>C554C
EC5BC31>K>41@@B?@B91D5C?<ED9?>C9>1B51CCE381C53? 45C97>
K5H9F K5GH9 7@=A5H97<5B;95B8B5HIF5@<5N5F8G

& '

,<9 7C
=BBCJ5H=CB )@5H:CFA 7C
") =G 5 IFCD95B D@5H:CFA
9GH56@=G<98IB89FH<9IFCD9"''(.=B=H=5H=J9 K=H<H<95=AC:
5779@9F5H=B;H<9H5?9
IDC:97C
=BBCJ5H=J9GC@IH=CBG=BIFCD9 
,<9=B=H=5H=J9:C7IG9GCBH<989J9@CDA9BH5B8H9GH=B;C:B9KCF
69HH9F=BBCJ5H=CBGIDDCFHA97<5B=GAG:CF=BBCJ5H=J9GA5@@5B8
A98=IAG=N989BH9FDF=G9G+&G =BD5FH=7I@5F=BH97<BC@C;=75@
1>49>4ECDB91<K5<4C

8DD@ GGG

9IFCD9
=BBCJ5
9I K96 ;I9GH
97C
=BBCJ5H=CB
97C
=BBCJ5H=CB

D@5H:CFA



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

!&,*,!&'+1+,%+*.!+
!&,'+%*,+(!$!+,!'&+,*,!+
, %!&%+++*'%, !+ (,*
F9;=CBGB5HIF5@5GG9HG75B69H<965G=G:CFH<989J9@CDA9BHC:BCJ9@GIGH5=B56@9GC@IH=CBG
5B86IG=B9GG=B=H=5H=J9GH<5H75B7CBHF=6IH9HCGA5FHGD97=5@=G5H=CB
*395>D9K3 1>4 =?>9D?B9>7 13D9F9D95C 6?3EC54 ?> >1DEB1< 1CC5D =1>175=5>D 31> B5CE<D 9>
=BBCJ5H=J9=B=H=5H=J9G =B7@I8=B;B9K6IG=B9GGCDDCFHIB=H=9G
7CGMGH9AG=ADCFH5BHFC@9=B7@=A5H97<5B;9A=H=;5H=CB5B8585DH5H=CB5B8=B897F95G=B;
H<9=AD57HC:B5HIF5@8=G5GH9FG5@@CKG@5F;97CGH
G5J=B;G
F5BI B579?> 81C D85 ?@@?BDE>9DI D? 25>5KD 6B?= 9DC >1DEB1< 1CC5DC
 ?G5F5B 9D B5AE9B5C
GIGH5=B56@9GC@IH=CBG =BBCJ5H=J9A9H<C8G5B8=895G5B8F9@=5B79CBH<9F9B9K56@9 F5H<9F
H<5BCBH<99L<5IGH=6@9 F9GCIF79GH<5H=HG@C75@97CGMGH9AG75BC::9F 

, (',&,!$,!'&+, ,+ '-$(-*+-


GG9GGH<9DCH9BH=5@C:=BH9;F5H=B;H<997CGMGH9AG5GG9HG5B8G9FJ=79G=BHCH<9*"+ =B
D5FH=7I@5F HC89J9@CDH<96=C
97CBCAM
57=@=H5H97CCD9F5H=CB69HK99BH<9?9MF9;=CB5@57HCFG =B7@I8=B;5;F=7I@HIF95B8:CF9GHFM
CF;5B=G5H=CBG 5;FC5B86=C
9B9F;M7CAD5B=9G5B8F9G95F7<79BHF9G
CB8I7H57CADF9<9BG=J9ACB=HCF=B; 5B5@MG=G5B89J5@I5H=CBC:97CGMGH9AG9FJ=79G5B8
1CC5DCD81DG9<<B5AE9B5D859>F?<F5=5>D?6C395>D9K35H@5BDC
I=@8 H<9 75D57=H=9G C: @C75@ 5IH<CF=H=9G 5B8 GH5?9<C@89FG :CF GIGH5=B56@9 97CBCA=7 5B8
97C@C;=75@D@5BB=B;
"89BH=:M5B8DIFGI9H<9GMB9F;=9GH<5H5F9C::9F986M-DC@=7=9G5B8GHF5H9;=9G

, #1,'*+,'!&.'$.!&'+1+,%+*.!
+-(('*,!&!,!,!.+
%C75@IH<CF=H=9G
75>395C451<9>7G9D829?49F5BC9DI G1D5B 6?B5CDBI 17B93E<DEB5 KC85B95C
*9G95F7<(F;5B=G5H=CBG5B8-B=J9FG=H=9G
' (G5B8=H=N9BG
+&G BHF9DF9B9IFG5B8%5F;9FCAD5B=9G

, %'+,!%('*,&,!++-+,''&+!*
C7IGCB=BBCJ5H=CBCDDCFHIB=H=9G K<=@GH=BH9;F5H=B;97CGMGH9AG9FJ=79G=B*"+ =BD5FH=7

I@5F H<FCI;<6=C
97CBCAM
)5L53D?>53?CICD5=C5BF935CD81DC8?E<49>3<E45149C3ECC9?>12?EDD85<9=9DC?>D85EC5
5B8GI6GH=HIH=CBC:B5HIF5@5GG9HG6MA5B
A589=B:F5GHFI7HIF9G5B8DFC8I7HG
BGIF9EI5@=HMACB=HCF=B;85H55B89B;5;9G7=9BH=GHG5B8H97<B=75@9LD9FHG
)FCACH9D5FHB9FG<=DG69HK99BDI6@=7 6IG=B9GG F9G95F7<5B8' (7CAAIB=H=9G

(*,!$-!'**%&!&-, '*!,!+

.0)&*0*+$
*)- * $'&)+%+
+&&%&$ 
*,*+ % # +0
%1DEB1< 31@9D1< E>45B@9>C >1D9?>1<
1>4B579?>1<53?>?=95C1>4C?395D95C
1>4 9>49F94E1< G5<<259>7 /5H9F  :CC8 
F9GCIF79GIDD@M A98=75@HF95HA9BH @C75@
7@=A5H95B85=FEI5@=HMGH56=@=G5H=CB F97F9

5H=CB5B8A9BH5@5B8D<MG=75@<95@H<5@@
89D9B8CBB5HIF5@97CGMGH9AG
J9FM F9;=CB <5G H<9 CDDCFHIB=HM HC
25>5KD6B?=9DC>1DEB1<1CC5DC
 ?G5F5B
5BM A95GIF9G H<5H 5F9 H5?9B G<CI@8
IG9 =BBCJ5H=J9 A9H<C8G 5B8 =895G 5B8
F9@M  56CJ9 5@@  CB H<9 F9B9K56@9  F5H<9F
H<5B CB H<9 9L<5IGH=6@9  F9GCIF79G H<5H
=HG 97CGMGH9AG 75B C::9F  5D=H5@=G=B;
CB 97CGMGH9A G9FJ=79G G<CI@8 5@K5MG
=BJC@J957CBG=89F5H=CBC:H<9@=A=HGCBH<9
IG95B8GI6GH=HIH=CBC:B5HIF5@5GG9HG6M
A5B
A589=B:F5GHFI7HIF9G5B8DFC8I7HG
,C85M    C: IFCD95B >C6G 5F9
=B8=F97H@M @=B?98 HC B5HIF5@ 5GG9HG  5
:IFH<9F 5F98=F97H@M@=B?985B8 
5F9 ACGH@M 65G98 CB B5HIF5@ 5GG9HG 
&5B5;=B; B5HIF5@ 5GG9HG =B 5 GIGH5=B

56@9 A5BB9F 75B <9@D HC 9BGIF9 ACF9


@CB;
H9FA 9AD@CMA9BH 5B8 IFCD9G
4=C
97CBCAM +HF5H9;M F97C;B=G9G
H<9 =ADCFH5B79 C: GI7< 5 A5B5;9A9BH
5DDFC57< "HGIDDCFHGH<989J9@CDA9BHC:
C=1BD CECD19>12<5 61B=9>7 KC85B95C 1>4
5EI57I@HIF9G 5B8 GI;;9GHG H<5H =BJ9GH

A9BH =B 97CGMGH9AG 5B8 ;F99B =B:F5

GHFI7HIF9C::9FGGCIB897CBCA=7F9HIFBG 
,<9G975B6957<=9J986M6CCGH=B; :CF
=BGH5B79  H<9 @C75@ 97C
HCIF=GA =B8IGHFM 
89J9@CD=B; A98=75@ HF95HA9BH 5B8
6=CA98=7=B9 DFC8I7H=CB 5B8 7F95H=B;
7CB8=H=CBG:CFGIGH5=B56@95;F=7I@HIF9

+&%&$ -#,
%)+0&*0*+$
*)- *
,<9 97CBCA=7 J5@I9 C: 97CGMGH9A
G9FJ=79G75BBCH6975@7I@5H988=F97H@M 
6IH DF9@=A=B5FM 9GH=A5H9G C: H<9=F
KCF@8K=89J5@I9=GHF=@@=CBD9FM95F 
CF =BGH5B79  ;@C65@ A5F=B9 97CGMG

D5=C 5>12<5 1> 1>>E1< KC8 81BF5CD


KCFH<IDHC 6=@@=CB +CA9CIH
C:H<9@958=B;;@C65@:CC87FCDG
89D9B8IDCB5B=A5@DC@@=B5H=CB
CF5@ F99:G DFCJ=89 :CC8 5B8
F9GCIF79G:CFCJ9F A=@@=CBD9CD@9
=B  7CIBHF=9G CF F9;=CBG H<5H 5F9
9GH=A5H985H6=@@=CBD9F5BBIA 
"B588=H=CB H<9J5@I9C:H<97CF5@F99:
C5BF935C6?B
 '5HIF5@ <5N5F8 A5B5;9A9BH =G
IDHC <97H5F9 M95F
 ,CIF=GA=GIDHCA=@@=CB <97H5F9
M95F

,)G;5=G;67FA
,:75A@A?;5EA85AEKEF7?E
3@6;A6;H7DE;FK8AD$A53>3@6
*79;A@3>(A>;5K%3=7DE 

 :FFB

75 7GDAB3 7G

D7E73D5:
4;A75A@A?K
BA>;5K

9B9H=7
A5H9F=5@G
5B8
6=C
DFCGD97H=B;=GIDHC
<97H5F9 M95F

 =G<9F=9GIDHC  <97H5F9 M95F

;@67J27@ :F?

 ,,:75A@A?;5E
A85AEKEF7?E3@6;A6;H7DE;FK

%C75@97CGMGH9AGG<CI@869G99B5GH<9
657?6CB9C:5@C75@6=C
97CBCAM65G98
CB H<9 GIGH5=B56@9 IG9 C: F9B9K56@9
F9GCIF79G  ,<9G9 =B7@I89 6=C
9B9F;M 
97CGMGH9A
G9FJ=79G 
GIGH5=B56@9
1@@B?1385C D? 6??4 B5C?EB35 56K395>D
6=C
A5H9F=5@G 6=C
A=A=7FMH97<BC@C;=9G
5B85@GCHCIF=GA5B8@=:9GHM@9G65G98CB
97C@C;=75@DF=B7=D@9G
3?CICD5=C 1<C? 81F5 1 49B53D <9>;
D? 9>>?F1D9?> 1>4 CECD19>12<5 7B?GD8
2531EC5?6D859B9=@?BD1>DB?<59>3<9=1D5
381>75 =9D971D9?> 1>4 141@D1D9?>

8AD$A53>3@6*79;A@3>(A>;5K
%3=7DE 

 ;A?;?;5DK;E3@
;@@AH3F;A@?7F:A6F:3FE77=E
EGEF3;@34>7EA>GF;A@E4K
EFG6K;@9@3FGD7NE47EF;673E
3@6F:7@;?;F3F;@9F:7E7
67E;9@E3@6BDA57EE7EFAEA>H7
:G?3@BDA4>7?E7 9 3EA>3D
57>>;@EB;D764K3>738 %AD7
;@8AD?3F;A@3@67J3?B>7E3D7
A@:FFB

4;A?;?;5DK;@EF;FGF7 AD9

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

7CGMGH9AG F9;I@5H9 H<9 ;@C65@ 7@=A5H9


6MGHCF=B;5B8G9EI9GH9F=B;;F99B<CIG9
;5G9G  :CF =BGH5B79  :CF9GHG 5F9 J9FM
9::97H=J9 75F6CB GHCF9G  =C8=J9FG=HM
D@5MG5B=ADCFH5BHFC@96M=ADFCJ=B;H<9
75D57=HM C: 97CGMGH9AG HC 585DH HC H<9
9::97HGC:7@=A5H97<5B;9
7CGMGH9AG AC89F5H9 9LHF9A9 K95H<9F
?B >1DEB1< 49C1CD5BC 9>3<E49>7 L??4C
HGIB5A=G  5J5@5B7<9G 5B8 @5B8G@=89G 
+89C 9C 2531EC5 G5D<1>4C 1>4 L??4
@<19>C 31> C?1; E@ L??4G1D5B G89<CD
HF99G75BGH56=@=G9G@CD9G5B87CF5@F99:G
5B8 A5B;FCJ9G DFCH97H 7C5GH@=B9G :FCA
GHCFA85A5;9

 ,,:75A@A?;5E
A85AEKEF7?E3@6;A6;H7DE;FK
8AD$A53>3@6*79;A@3>(A>;5K
%3=7DE 

+85 F1<E5C 1>4 3?E>D<5CC 25>5KDC ?6


B5HIF5@ 75D=H5@ 5B8 97CGMGH9AG 5F9 
<CK9J9F  C:H9B DCCF@M IB89FGHCC8 
&''&)+,% + *
+85I 1B5 B1B5<I B5L53D54 9> 1>I 6?B= ?6
&)) &%#%
97CBCA=7 5B8 GC7=5@ 577CIBH=B; 5B8
#&#-#&'$%+
5F9BCHDF=798CBH<9A5F?9HG GH=A5H9G
*&%&*0*+$
*)- *
GI;;9GH H<5H H<9 DCH9BH=5@ GC7=5@ F9HIFBG
75B =B7F95G9 6M   :CF KCC8@5B8 5B8
'5HIF5@ 5GG9HG 5B8 97CGMGH9A G9FJ=79G
6M:CF;F5GG@5B8G K<9BH<9AI@H=D@9
75B DFCACH9 H<9 89J9@CDA9BH C: >?F5<
97CGMGH9A G9FJ=79G DFCJ=898 5F9 H5?9B
CECD19>12<5 C?<ED9?>C 1>4 2EC9>5CC
=BHC577CIBH 
9>9D91D9F5C1>43?>DB92ED5D?2E9<49>71
,<9 7CBH=BICIG @CGG C: :CF9GHG  GC=@G  <?31<29?53?>?=I
K9H@5B8G 5B8 7CF5@ F99:G =G @5F;9@M 8I9
&2/:<973=381:9>/8>3+69069-+6=/+
HCH<9@57?C:F97C;B=H=CBC:97CGMGH9AG
</=9?<-/= 3= ,/381 2+<8/==/. 38
G9FJ=79G5B8H<9:57HH<5HH<9=FF9@5H=J9@M
;.5*7-$.*@..-@12,11*<+..7
@5F;997CBCA=77CBHF=6IH=CB=GDF57H=75@@M
+ 6+<1/6C ?8./<@+6?/. </=9?<-/
=BJ=G=6@9 ,<9@CGG9GC:GD97=9G5B8CH<9F
3= 89A ,/381 ?=/. 38 099. +8.
>1DEB1< 1CC5DC <9;5 KC85B95C 1B5 @1BD<I
7/.3-38/ +8. </=/+<-2/<= +</
4B9F5> 2I 6?3EC9>7 ?> 9==5491D5 @B?KDC
09-?=38198+61+/+8.3>=:9==3,6/
F5H<9F H<5B CB @CB;
H9FA J5@I9G  &=GG98
?=/ 38 ,39/8/<1C :<9.?->398
CDDCFHIB=H=9GHCDFCH97H5B8=BJ9GH=BH<=G
"5.*<.<..88-";*,=2,.*<.
B5HIF5@ 75D=H5@ 7CBHF=6IH9 HC H<9 7F=G=G
 %A/.3=2 -97:+8C -+66/.
=B 97CGMGH9AG 5B8 6=C8=J9FG=HM H<5H =G
*-9/<+ 2+= >+::/. 38>9 =936
697CA=B;ACF99J=89BH ,<989;F585H=CB
/-9=C=>/7 =/<@3-/= +8. /=>+,
C:GC=@ 5=F K5H9F5B86=C@C;=75@F9GCIF79G
63=2/.+,?=38/==79./6>2+>900/<=
<5G 5 B9;5H=J9 =AD57H CB DI6@=7 <95@H< 
+ 8/A >C:/ 90 -637+>/ -97:/8=+
:CC8 G97IF=HM  6IG=B9GG CDDCFHIB=H=9G
>398 =/<@3-/ &23= *39-2+< +<,98
5B8 97CBCA=7 ;FCKH<  ,<9G9 DFC6@9AG
$.:>.<=;*=287 <=8;.< * <2072C,*7=
5@CB; K=H< H<9 =B7F95G=B; 7<5@@9B;9G
+79?8> 90 -+<,98 38 =936 +8. >23=
C: 585DH=B; HC 7@=A5H9 7<5B;9 5B8
27=>;79;8->,.<*C7*7,2*5;.=>;7
DF9G9FJ=B;5B8A5B5;=B;B5HIF5@5GG9HG
0<97 >2/ -+<,98 -</.3> 7+<5/>
B979GG=H5H9 =BBCJ5H=J9 5DDFC57<9G 5B8
88-";*,=2,.,*<.
H=A9@M57H=CBG

(
(*
(*
*,!
,!$
,!
$-!
$
-!
-!
'*

'**%&!&-, '*!,!+
'*
 ,) 



 







 $!
 !
!"!
!!" 
 !!#"
!"#"



 $!
%

 !"!
"


"!!%
 !!#"
"!"!

+AGD57%;>>7@@;G?5AEKEF7?EE7EE?7@FO5AEKEF7?E3@6 G?3@/7>>47;@9
'BBADFG@;F;7E3@6:3>>7@97E8ADGE;@7EE3@6!@6GEFDKP /AD>6*7EAGD57E!@EF;FGF7 


 

'1#-. +",/&#-2#/) +".







"
!"!
 ! 

"!!%
!$#!!
!!" 
 !!#"

 $!

"!!
"!
!!!
! !
  "!

"!!%
!!" 
 !!#"


 
 
 


 $!
"$
"!
  "!
 " !!
!"!

!
 !!#"
!"#"


 


"$
!"!
"!"!
!
!" 
!"#"

+85 45F5<?@=5>D ?6 1 7B55> 9>6B1


CDBE3DEB5 75B 6CCGH @C75@ 97CBCA=9G 
9GD97=5@@M6M9B<5B7=B;H<95HHF57H=J9B9GG
C: H<9 5F95 HC HCIF=GHG  ,<9F9 5F9 A5BM
GI779GG:I@ 9L5AD@9G C: H<=G 5DDFC57<
=B7@I8=B;
&2/ 91/ /7:/8 !+>398+6 #+<5
>2+> A+= =/> ?: 38 + 09<7/< -9+6
738381 +</+ 90 /613?7 &2/ +37=
A/</ >9 </@3@/ >2/ 69-+6 /-9897C
>9 </=>9</ +8. 0?<>2/< ./@/69: >2/
8+>?<+6@+6?/=90>2/</1398+8.>9
=?::9<>8+>?</>9?<3=7+8./.?-+
>398&2/</@/8?/=0<97/-9>9?<3=7
38 >23= :+<5 +</ 89A += 7?-2 +=
H 7366398:/<C/+<
89>2/< /B+7:6/ 3= >2/ !+>398+6



 -(. +"% -"#+.
"!%"!
!"!
!"!
"!"!
!
"!




!"!

"!!%
!




 $!
!
!" 

9</=> + 7+49< 1<//8 380<+=><?-


=>;.272=2*=2?.27,.7=;*5705*7-=
2+= :<9@3./.  8/A =?=>+38+,6/
>9?<3=7+>><+->398=+8.+>><+->=
7366398@3=3>9<=+88?+66C&23=,<381=
H
 7366398 :/< C/+< >9 >2/ 69-+6
/-9897C
,B21> 7B55> 9>6B1CDBE3DEB5 DFC>97HG
75B 69 H<9 @C7IG :CF =BBCJ5H=J9 =895G
H<5H <5J9 97CBCA=7  9BJ=FCBA9BH5@ 5B8
3E<DEB1<F1<E5
7=1.88-";*,=2,.*<.
=1.
<//8 $990 #<91<+77/ 38 +=/6
./798=><+>/.+8?7,/<90:9=3>3@/
</=?6>= =?-2 += /8/<1C =+@381
:<979>398 90 ,39.3@/<=3>C </.?-/.
<+38A+>/< <?8900 +8. 9@/<2/+>381

 GDF:7D;@8AD?3F;A@
A@MD77@!@8D3EFDG5FGD7
3F:FFB

75 7GDAB3 7G

7@H;DA@?7@F
@3FGD7

75AEKEF7?E
;@67J27@ :F?

 !@EF;FGF78ADGDAB73@
@H;DA@?7@F3>(A>;5K!(
OD77@;@8D3EFDG5FGD7
;?B>7?7@F3F;A@3@6788;5;7@5KP
;@3>D7BADF 

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

*< @.55 *< * 98<2=2?. 27D>.7,. 87


>2/2/+6>2+8.A/66,/38190382+,
3>+8>=
+85B5 9C 1<C? 1 C97>9K31>D @B?C@53D ?6
GH=AI@5H=B; C?391< 53?9>>?F1D9?>C
H<FCI;< H<9 =BJC@J9A9BH C: 7CAAIB=H=9G
=B H<9 DF9G9FJ5H=CB 5B8 GIGH5=B56@9 IG9
C:H<9=F@C75@B5HIF5@F9GCIF79G ,<=G75B
7<5B;9 D9CD@9G 5HH=HI89G 5B8 @=:9GHM@9G
5B8 DFCACH9 GC7=5@ 9BHF9DF9B9IFG<=D 
K<=@GH=BHFC8I7=B;5GIGH5=B56@95DDFC57<
D81DB5<95C?>>1DEB1<1CC5DC

 :FFB

III H3@7D=G>>7 AD9

 :FFB

III H3@7D=G>>7 AD9

H=
;@67J B:BABF;A@5A?25A@F7
@FH;7I3DF;5>7;6 4;AEB
:7D77@FD7BD7@7GDE:;B3B;>AF
EFG6K53F;6@7IE!F7?;6 

 III 3LAD7E4;ABADF3> 3@9D3


G35 BF

 %AD7;@8AD?3F;A@3H3;>34>7
3F:FFB

5A>>ACG74;A;@6;53F;A@
3E5A@;F 5A?
3@92BD7E7@F3F;A@
B:B

 4;A;@6;53FAD;E
3@AD93@;E?AD4;A>A9;53>
D7EBA@E7F:3FD7H73>EF:7
BD7E7@57A8BA>>GF3@FE4KF:7
A55GDD7@57A8FKB;53>EK?BFA?E
AD?73EGD34>7D7EBA@E7E 
;A?A@;FAD;@9;EF:7GE7A8
F:7BDAB7DF;7EA83@AD93@;E?
FAA4F3;@;@8AD?3F;A@A@57DF3;@
3EB75FEA8F:74;AEB:7D7



&2/ <//8 <9A>2 >996,9B


:</=/8>/. 38 99. #<+->3-/ +=/

 :?>= =9-3+6 +8. ,/2+@39?<+6


-2+81/= +> >2/ -/8></ 90 ,?36.381
8+>?</0<3/8.6C -977?83>3/= >2+>
>+:38>9>2//-98973-9::9<>?83>3/=
90/-9=C=>/7=/<@3-/=
7 $@.-.7 =1. ;.0287 @2=1 =1.
,39=:2/</ </=/<@/ *+5/ 'E8/<8
<-23:/6+19+8. 9?8>388/5?66
2+= ./@/69:/. 3889@+>3@/ 69-+6
=?=>+38+,6/ ./@/69:7/8> ,+=/.
98 3>= @/<C <3-2 8+>?<+6 -+:3>+6
+8. -</+>3@/ 383>3+>3@/= =?-2 +=
*39=:2/<//8></:</8/?<=23:+8.
*!+>?</98=/<@+>398+=+?=38/==
-.*
"BBCJ5H=CBG5F9D5FH=7I@5F@MB99898=BH<9
=?>9D?B9>7 ?6 53?CICD5=C 1>4 29?49
F5BC9DI +I7< ACB=HCF=B; K=@@ BCH CB@M
GIDD@MACF989H5=@98?BCK@98;9H<5H75B
69IG98HC9BGIF9H<9@CB;
H9FAGIGH5=B

56=@=HM C: H<9 F9;=CB5@ 97CBCAM 6IH 75B


5@GC@958HCH<97F95H=CBC:B9KG9FJ=79G 
97CBCA=757H=J=H=9G5B8+&G 
+>+,+=/= 90 ,391/91<+:23-+6
+8.9<=9-39/-98973-.+>+=?-2
+= >29=/ 38 >2/ D9</+8 39.3@/<
=3>C#9<>+6:6+>09<78;=1.$#$
$!# 9;83.,= "5.*<. <.. 88-
";*,=2,. *<.  9;8?2-. <>998;=

09< ,391/91<+:23-+6 +8. 7+-<9


/-96913-+6 </=/+<-2 +8. 3889@+
>3@/ =/<@3-/= 09< 8/A /-98973-
+->3@3>3/=9</B+7:6/>2/C/8+,6/
;.0287<8;=.;;2=8;2.<=8+.7.C=/;86
9:/8 +--/== >9 ,39.3@/<=3>C .+>+
9< 7+::381=/=>37+>398= 90 >2/
>/-283-+6 :9>/8>3+6 09< </8/A+,6/
/8/<1C
966+,9<+>398,/>A//8?83@/<=3>3/=
</=/+<-2 -/8></= +8. +8 % 
2+= 6/. >9 -?>>381 /.1/ 3889@+
>398= 38 </=/+<-2 +8. 7983>9<381
>/-283;?/= :<979>381 >2/ +::63
-+>398 90 ,3938.3-+>9<= +8. >2/
,397983>9<381 90 /-9=C=>/7=
=< <,2.7=2C, .//8;=< 1.59.- =8
-</+>/ 3889@+>3@/ +::<9+-2/= +8.
7+8+1/7/8> >996= 09< >2/ :</=/<
@+>398908+>?<+6+==/>=
/+)% +*&)0
)&%$)"+*
/<=@9 =BJ9GH=B; =B 97CGMGH9AG H<5H
<5J9 75F6CB G9EI9GHF5H=CB DCH9BH=5@ 
B579?>C 3?E<4 1<C? 25>5KD 6B?= D85
CDDCFHIB=H=9G C: H<9 9L=GH=B; 75F6CB
A5F?9HG J=5H<9!?9>D =@<5=5>D1D9?>
#"=BGHFIA9BHC:H<9$MCHC)FCHC7C@
#" =G 5 DFC>97H
65G98 5DDFC57<
H<FCI;< K<=7< 7CIBHF=9G 75B 95FB
7F98=HGHCK5F8H<9=F9A=GG=CBH5F;9HG
IB89FH<9$MCHC)FCHC7C@ #"DFC>97HG
5F9 7CB8I7H98 >C=BH@M 69HK99B HKC
BB9L " 7CIBHF=9G  K<=7< =B7@I89
5@@ - &9A69F +H5H9G  ,F5856@9
75F6CB 7F98=HG 75B 69 95FB98 6M
=AD@9A9BH=B;56FC585FF5MC:75F6CB
G9EI9GHF5H=CB 57H=J=H=9G =B7@I8=B;
F9
:CF9GH5H=CB 5JC=89889
:CF9GH5H=CB 
5;F=7I@HIF95B8:CF9GHFMA5B5;9A9BH
H<5H9B<5B79G75F6CBG9EI9GHF5H=CB
*958ACF956CIH#"5H
8DD@ :9
E>6333
9>D 

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

&.+&+"+ &%
&*0*+$*)- *&)
*$)+%*,*+ %#
)&.+

"BH9;F5H=B;97CGMGH9AG9FJ=79G89J9@CD

A9BH=BHC*"+C::9FGDFCA=G=B;CDDCFHI

B=H=9G :CF F9;=CBG 5B8 &9A69F +H5H9G HC


GHF9B;H<9B H<9=F 97CBCA=7 GIGH5=B56=@=HM 
K<=@GH DF9G9FJ=B; H<9=F 9BJ=FCBA9BH 5B8
=B7F95G=B; H<9=F F9G=@=9B79 HC 7@=A5H9
7<5B;9 5B8 B5HIF5@ 8=G5GH9FG  ,97<B=75@
5GG=GH5B79 :IB8G 75B 69 8=F97H98 HC
=BBCJ5H=J9 K5MG C: A5=BH5=B=B; 5B8
=ADFCJ=B; @C75@ 97CGMGH9AG GI7< 5G
K5H9F :CF9GHG5B86=C8=J9FG=HM ,<9M75B
5@GC69IG98HC7F95H95B8A5=BH5=B;F99B
=B:F5GHFI7HIF9  GIGH5=B56@9 5;F=7I@HIF9
5B8 @5B8 IG9 5B8 6=C
65G98 GC@IH=CBG 
1C G5<< 1C @B?=?D9>7 C395>D9K3 45F5<?@

A9BHG 5B8 H<9 ACB=HCF=B; 5B8 5GG9GG

A9BHC:H<95GG9HGC:97CGMGH9AG

)&$$%+ &%
>I1CC5CC=5>DC8?E<46?3EC>?D?><I?>
1$674$/$55(65%76$/5221/2&$/5&,(16,A&
D538>?<?7931<1>45>DB5@B5>5EBC89@31@129<9D95C
D81D3?E<485<@D?3B51D59>>?F1D9F5C53D?BC9>
D8529?21C5453?>?=I



%#0* *&+) &%#


&%+/+% +*'&+%+ #&)
&*0*+$*)- -#&'$%+
"BCF89FHC8=G7CJ9FH<9DCH9BH=5@CDDCFHI

B=H=9GF9@5H98HC@C75@97CGMGH9AG9FJ=79G 
5IH<CF=H=9GG<CI@85GG9GGH<9=FB5HIF5@
1CC5DCD85<?31<C395>D9K3D538>?<?7931<
5B89BHF9DF9B9IFG<=D75D56=@=H=9G5B8
D85381<<5>75C1>453?>?=9325>5KDC

,<9:I@@D=7HIF975B69C6H5=B986M
7CB8I7H=B;H<9:C@@CK=B;57H=J=H=9G
 >1<IC9>7 D85 CD1D5 ?6 B579?>1<
53?CICD5=C 1>4 5F1<E1D9>7 D85
>1DEB1< 1CC5DC 1>4 53?CICD5=
C5BF935CK<=7<75BCIH@=B9H<97CGHG
1>425>5KDC?649665B5>D@?<93I?@D9?>C
5B8<=;<@=;<HH<969GH@C75@GHF5H9;=9G
:CF 9B<5B7=B; 6CH< K9@@
69=B; 5B8
97CBCA=7 GIGH5=B56=@=HM  &5BM HCC@G
:CF H<9 9J5@I5H=CB C: B5HIF5@ 5GG9HG
5B897CGMGH9AG9FJ=79G5F95J5=@56@9
9>3<E49>7
%1. 8<= .7.C= 7*5B<2< 
A23-2 3= + A3./6C?=/. :/<09<
7+8-/ C+<.=>3-5 >2+> ?=/= /@+6?+
>398/=>37+>/= ?6>3-<3>/<3++8+6C=3=
 *7- "*;=2,29*=8;B 99;*2<*5
" -8 78= ;.:>2;. 687.=*;B
/@+6?+>398 &2/C +</ ./=318/. >9

(*,!$-!'**%&!&-, '*!,!+

2/6: ./-3=3987+5/<= >9 38>/1<+>/


-97:6/B +->398= +8. 7?6>3:6/
9:38398= 38>9 + =3816/ 0<+7/A9<5
7/8;6*=287*+8>==885</8;=1..?*5>
+>398 +8. +::<+3=+6 90 /-9=C=>/7
=/<@3-/=3=A3./6C+@+36+,6/ 
 CC5CC9>7 D85 B5C51B38 9>>?F1
D9?> 1>4 5>DB5@B5>5EBC89@ @?D5>
D91<:CF=BH9;F5H9857H=J=H=9GHC6I=@85
6=C
97CBCAM "H=G=ADCFH5BHHC=89BH=:M
K<9H<9F H<9F9 5F9 F9G95F7< 9LD9FHG
G8?31>@B?F9451C395>D9K321C9C1>4
9BGIF95B97C
ACB=HCF=B;H<5HKCI@8
DF9J9BH 5BM F=G? HC H<9 @C75@ B5HIF9
GMGH9AG  ,<9 ACGH =BBCJ5H=J9 57H=J=

H=9G  69 H<9M ;F99B =B:F5GHFI7HIF9

65G98 GMGH9AG CF B9K 6=C


DFC8I7HG
5B8 G9FJ=79G  B998 ?BCK@98;956@9
5B8 9BHF9DF9B9IF=5@ D9CD@9 :CF H<9=F
=AD@9A9BH5H=CB  ,<IG  F9G95F7< 5B8
=BBCJ5H=CB :57=@=H=9G 5B8 <=;<@M EI5@=

K54 D51=C G9<< 25 B5AE9B54 G85> 1


F9;=CBCF57CIBHFM58CDHG5A6=H=CIG
@<1>CD?2E9<4129? 21C5453?>?=I
7 (*5.< =1. # ,8/>7-.-
>2/*<3.1/ +<38/%-3/8-/<9?:

-6?=>/< A23-2 =?::9<>= 7+<38/
+8. +;?+>3- =-3/8-/ ,?=38/==/=
>9 +==3=> >2/7 38 1+38381 169,+6
,?=38/== ,C /8-9?<+1381 >2/7
>9 A9<5 >91/>2/< += A/66 += >9
/8-9?<+1/ (/6=2 1<+.?+>/= >9
=>+<> ?: /8>/<:<3=/= 38 >23= =/->9<
,866.7= *< =1. ;2<1 ,*<. 2<
+6</+.C -<9== </0/</8-/. /+<63/<
A/-+8+..>23=@/<C199./B+7:6/
@12,1 @. 8?.;5884.- ;.028$=*;<
@277.;


 CD12<9C89>71=?>9D?B9>71>441D1
3?<<53D9?> CICD5= H<5H K=@@ DFCJ=89
IG9:I@ =B:CFA5H=CB :CF H<9 9J5@I5H=CB
C: B5HIF5@ 75D=H5@ 5B8 97CGMGH9A
G9FJ=79G 5B8 H<9 :IFH<9F D@5BB=B;
C: @C75@ 97C@C;=75@ 5B8 97CBCA=7
89J9@CDA9BH GHF5H9;=9G GI7< 5G 5
29? 21C5453?>?=I

&2/ *?C+09< :<94/-> :<9@3./=


</8-2?3+8+A3>2+@+6?+,6/>996
09<7983>9<3813>=09</=>=+8.>23=3=+
8/>A9<59038=>+66+>398=>97/+=?</
-+<,98 =/;?/=><+>398 &2/ :<94/->
-</+>/= + ,+=/ 09< 3889@+>398 38
+.+:>381>9-637+>/-2+81/+8.09<
</1398+6./@/69:7/8> 
983>9<381 +8. </:9<>381 =C=>/7=
,*7 +.7.C= /;86 68-.;7 =885< 524.
1/91<+:23-+6/8@3<987/8>+63809<7+
>398 =C=>/7= +8. 9>2/< /+=C>9?=/
%*7-<*=.552=.=.,1785802.<"5.*<.
<..88-";*,=2,.*<.<*7-


 > 1>1<IC9C ?6 @?D5>D91< 21BB95BC
1>4 4B9F5BC 75B G97IF9 H<9 J=56=@=HM
5B8 F9G=@=9B79 C: 97CGMGH9A
G9FJ=79 GIDDCFH
65G98 DFC>97HG
5B8 DFC;F5AA9G  ,<9G9 75B F5B;9
:FCA5;9B9F5@IB89FGH5B8=B;C:H<9
9=@?BD1>35 ?6 53?CICD5=C 25>5KDC
HC GC7=9HM  H<FCI;< F9;I@5HCFM 5B8
75D57=HM =GGI9G HC ?BCK@98;9 56CIH
H<9 DIFDCG9 5B8 =AD@9A9BH5H=CB C:
DFC>97HG)@95G9G99=;IF9 +I7<
9>6?B=1D9?>9CF9D1<D?@B?:53D@<1>>5BC

 AD7J3?B>7/AD>63@=
!-&,&  AI
?G5:;E3@75AEKEF7?IADF:
EE7EE;@9F:775A@A?;5H3>G7
A85A@E7DH3F;A@,:;E4DA5:GD7
;@FDA6G57EF:73BBDA35:
A875AEKEF7?E7DH;57E3@6
5A?B3D7E6;887D7@FH3>G3F;A@
?7F:A6E

 :FFB

75 7GDAB3 7G

D79;A@3>2BA>;5K
H;67AE
H;67A
67F3;>E 58?H;6 $&&

 :FFB

III 5;D36 8D
7@

D7E73D5:AB7D3F;A@E
D7E73D5:
FAB;5E
F:78GFGD7A8FDAB;53>
8AD7EFE
EA?7BDA<75FE

99. #<+->3-/ +=/

 ./798
=><+>/= 29A 69-+6 7?83-3:+63>3/=
-+8 +..</== >2/=/ 3==?/= >2<9?12
=1. ><. 8/ * <9.,2C,*55B-.<207.-
=?::9<>:+-5+1/38-6?.381><+38381
+==3=>+8-/ 38 >2/ ./@/69:7/8> 90
+ =><+>/13- @3=398 +8. >2/ ?=/ 90
*,,.<<2+5. % =885< =8 6*7*0.
-98=/<@+>398.+>+

)&$$%+ &%
>F5CD9>=?>9D?B9>71>441D13?<<53D9?>
CICD5=CG893831>@B?F945@B?F5>9>6?B=1D9?>
6?B31@9D1<9C9>7?>53?CICD5=C5BF935C1>4
D856EBD85B@<1>>9>7?6<?31<53?<?7931<1>4
53?>?=9345F5<?@=5>DCDB1D5795C



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%


 ,) )) )*+&%) -)*&&*0*+$*)- *-#&'$%+

)) )*
+85CECD19>12<51>456K395>DEC5?653?CICD5=C5BF935C1>4>1DEB1<31@9D1<1B5
89>45B542I1>E=25B?621BB95BCCE381C
@57?C:J=G=CB5B8IB89FGH5B8=B;C:H<9CDDCFHIB=H=9GC::9F986M97CGMGH9A
G9FJ=79G =BD5FH=7I@5F =BH9FAC:=BBCJ5H=CBG
7CGMGH9AG9FJ=79G5F9C:H9BIB89FJ5@I985B89LD@C=H98 5GH<9M<5J9BC
FC@9 =B H<9 :CFA5@ A5F?9H  G 97CGMGH9A G9FJ=79G 5F9 HF58=H=CB5@@M 7CBG=8

9F98HC69:F99 H<9F95F9BCA95BGC:5HH57<=B;5ACB9H5FMJ5@I9HCH<9G9
G9FJ=79G
,<9F9=GBCF9;I@5HCFM:F5A9KCF?:CFACGH97CGMGH9AG9FJ=79GH<5H75B7@5F=:M
CKB9FG<=DF=;<HG G9H@=A=HG 5GG=;BJ5@I9G EI5BH=:MH<989@=J9FMC:G9FJ=79G
1>4D1B75D25>5KDCD?2EI5BC
,<9F9=G5@57?C:75D57=HMHCD9F:CFA57CADF9<9BG=J95B5@MG=GC:97CGMGH9A
G9FJ=79G K<=7<=GH<975G9K=H<9J9BH<9ACGHACH=J5H985IH<CF=H=9G 7CID@98
K=H<5@57?C:9BHF9DF9B9IFG<=D =BBCJ5H=CB5B8*:CF6=C
97CBCAM89J9@

CDA9BH
,<9 DCH9BH=5@@M <=;< HF5BG57H=CB 7CGHG C: EI5BH=:M=B; 5B8 J9F=:M=B; H<9
97CGMGH9AG9FJ=79G K<=7<<5AD9FG:IFH<9FD@5BB=B;
) -)*
!>9D91D9F5CCE@@?BD9>753?CICD5=CC5BF935C31>25>5KD6B?=C5F5B1<4B9F5BCCE381C

 :FFB

III G@7E5A AD9

@7I
7@
@3FGD3>E5;7@57E

7@H;DA@?7@F
75A>A9;53>
E5;7@57E
4;AEB:7D7D7E7DH7E

IAD>6@7FIAD=I@4D

,<
,<95J
5=@=@56=
6=@=@=HHMC::97CGMGHH9AGK=H=H<
<<=
<=;<7
< I@H@HIF5@@CFB5HIF
H 5@@<9F=H
< =H5;95B8
8F97F9

5H=CB5@CF98I75H=CB5@J5@I9G =BD5FH=7I@5F B5H=CB5@D5F?G5B8-'+(G=H9G


C:6=CGD<9F9F9G9FJ9G
,<95J5=@56=@=HMC:5@CB;
H9FAJ=G=CB:CF97CGMGH9AG9FJ=79G5B8H<9=FFC@9=B
H<997CBCA=7DFCGD9F=HMC:F9;=CBG 7CIBHF=9G
,<9DF9G9B79C:IB=J9FG=H=9G @56CF5HCF=9G5B8F9G95F7<79BHF9G5B87CAD5

B=9G=B5F95GF9@5H98HCB5HIF5@5GG9HG5B897CGMGH9AG
GI
GIDD
DDCF
CFH=H=J9
J9DC@
DC@=7
=7MM5B
5B8
8F9
F9;I
;I@5
@5HC
HCFM
FM9BJ
9BJ=F
=FCB
CBA9
A9BH
BH K<
K<=7
=7<
<GH
GHF9
F9GG
GG9G
9GH<9
H<9GIG
GIGH5
H5=B
=B

56@9IG9C:B5HIF5@F9GCIF79G F5H<9FH<5BH<9=FIB@=A=H989LD@C=H5H=CB5B85@GC
9B7CIF5;9G GA5@@ G75@9 9BHF9DF9B9IFG<=D 5B8 7C@@56CF5H=CB K=H< 9BJ=FCB

A9BH5@DFCH97H=CB5;9B7=9G
+85 1F19<129<9DI ?6 K>1>391< 1>4 D538>931< B5C?EB35C G9D8 G5<< 45C97>54
A5B5;9A9BH
!=;<EI5@=HMACB=HCF=B;85H5HC69IG98=BH<95B5@MG=GC:97C
GMGH9AG9FJ=79G



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

%*,) %+')+  '+ &%&


*+"&#)*
(B9 C: H<9 GI779GG :57HCFG C: H<9 *"+
H5F;9H=B; 97CGMGH9A G9FJ=79G 5B8 ;F99B
=B:F5GHFI7HIF9@=9G=BH<957H=J9=BJC@J9A9BH
C:5K=89F5B;9C:GH5?9<C@89FG =B7@I8=B;
F9DF9G9BH5H=J9GC:H<957589A=7F9G95F7<
7CAAIB=HM  7=J=@ GC7=9HM CF;5B=G5H=CBG 
@C75@ 9BHF9DF9B9IFG  F9@9J5BH 5;9B7=9G
5B8 @C75@ 5IH<CF=H=9G  "H =G =ADCFH5BH HC
45F5<?@ 56K395>D 5H381>75C 1>4 <?>7
H9FA D5FHB9FG<=DG 69HK99B H<9G9 GH5?9

<C@89FG 6CH< IB89F H<9 IA6F9@@5 C: *"+ 69 =ADCFH5BH 6CH< =B H<9 5B5@MG=G 5B8
5B8=B=B8=J=8I5@DFC>97HG
D@5BB=B; 5B8 =B <9@D=B; HC 9BGIF9 H<5H
@?D5>D91<3?>L93DC1B51F?9454

)&$$%+ &%
1574($1()A&,(16(:&+$1*(%(69((16+(
B5C51B383?==E>9DI39F9<C?395DI?B71>9C1D9?>C
<?31<53?>?=9313D?BC1>4175>395C451<9>7
G9D8>1DEB5@B5C5BF1D9?>6?B5CDBI17B93E<DEB5
D?EB9C=1>4?D85BB5<5F1>D1C@53DC
,<9 =B=H=5@  7FI7=5@  GH9D =G HC 6F=B; 5@@
GH5?9<C@89FG HC H<9 G5A9 @9J9@ C: IB89F

GH5B8=B; C: H<9 =ADCFH5B79 C: B5HIF5@


97CGMGH9AG 5B8 ;F99B =B:F5GHFI7HIF9 
*395>D9K313D?BCG9<<81F51C97>9K31>DB?<5
=BDFCACH=B;H<=GIB89FGH5B8=B; ,<9M75B
5@GC DFCJ=89 A9H<C8C@C;=9G HC 7CB8I7H
H<9 :I@@
G75@9 5B5@MG=G C: H<9 CDDCFHIB=

H=9GC::9F986M97CGMGH9AG9FJ=79G5B8HC
3?=@1B5D85B9C;C1>425>5KDC?649665B5>D
D@5BB=B;CDH=CBG ,<9=BJC@J9A9BHC:@C75@
5;9B7=9GH<5H5F9F9GDCBG=6@9:CF5GD97HG
@=?9 :CF9GHFM  5;F=7I@HIF9 5B8 HCIF=GA K=@@

)&$$%+ &%
>31@9D1<9C9>7?>53?CICD5=1CC5DC9>F?<F5
2?D853?>?=931>4>?>53?>?=93CD1;58?<45BC
9>@<1>>9>79=@<5=5>D1D9?>1>4$+89CG9<<
5>CEB5D81D5>F9B?>=5>D1<@B9?B9D95C1B5>?D
?F5BD1;5>2I53?>?=93?2:53D9F5C


$?31<1ED8?B9D95C@<1I1;5IB?<59>C@539K3
=B=H=5H=J9G 5B8 DFC>97HG 5B8 G<CI@8 <5J9
5 GHF5H9;=7 =BH9F9GH =B H<9A  ' (G  5B8
9GD97=5@@M H<CG9 K=H< 9BJ=FCBA9BH5@
A=GG=CBG  K=@@ C:H9B <5J9 5 ;F95H 9BH<I

G=5GA:CF97CGMGH9AF9@5H98=B=H=5H=J9G "B
H<956G9B79C:F9;=CB5@5B8@C75@9BJ=FCB

A9BH5@ ' (G  B5H=CB5@ CF 9J9B =BH9FB5

H=CB5@' (GG<CI@869=BJC@J98 ,<9M75B


A5?95B=AA9BG9=BDIHHCDI6@=798I75

H=CB 5B8 AC6=@=G5H=CB 6CH< =B DFC;F5AA9


CF DFC>97H =AD@9A9BH5H=CB 5B8 5@GC HC
:F5A=B;H<9F9;I@5HCFMB998G
I=@8=B; @C75@ 6=C
97CBCA=9G 5B8 89J9@

CD=B; ;F99B =B:F5GHFI7HIF9 75B C::9F 5


F5B;9C:GIGH5=B56@96IG=B9GGCDDCFHIB=

H=9G :CF @C75@ 9BHF9DF9B9IFG 5B8 +&G =B


5F95G GI7< 5G 97CHCIF=GA  5;F=
6IG=B9GG
5B8 @5B8 5B8 :CF9GHFM A5B5;9A9BH
G9FJ=79G  ,<9F9:CF9  =H =G =ADCFH5BH HC
9BGIF9 H<9=F D5FH=7=D5H=CB =B H<9 D@5BB=B;
DFC79GG9G IB89F H<9 *"+  "B 588=H=CB 
A5BM 6IG=B9GG9G 5F9 HF5BG:CFA=B; H<9=F
J5@I9 65G9G 5B8 58CDH=B; 7CFDCF5H9
GC7=5@ F9GDCBG=6=@=HM DF=B7=D@9G  "BJC@J9

A9BH =B B5HIF9 F9GHCF5H=CB 57H=J=H=9G 75B


;=J9 H<9A 5B CDDCFHIB=HM HC DFC;F9GG =B
H<9=F+*D9F:CFA5B79

(*,!$-!'**%&!&-, '*!,!+
 ,) '&+%+ #*+"&#)* %&*0*+$*)- *,''&)+ % + + -*



 


%% "#!# "#!%'!" % " %%!


! %!#   !%!  %'%$
$&# #&%!#*$&""!#%
$&# %    $&""!#%
%% %!&(% %( '$!%*!# $%! $#$##$ &$ $$$
&""!#%   '!' % % *$$!!$*$%$#'$




 
 



 !# '!' % 


 %$% ! !'%'!"#!&%$ $#'$""#!$
! %!# ! '#!  % %!#$%"#!'$! #$$$$$ %$ !%#$ %
$&""!#%!#""#!"#%$!  
#!' %!!!$$!#% *$$!!$*$%$#'$ $"
!%! #!
&""!#% (# $$#$ 


 
 


'!"   '$%   ($&$% &$ $$$$! !$*$%$$#'$


  '!' % *$$!!$*$%$#'$
#!' %    $&""!#%%!"#!%$  %%'$
! %!# %"#!%" %%!


 
 

$,-#./-3 %-'!0)/0-#$'.&#-3/,0-'.* +"#+#-%3#/!

  '!' % *$$!!$*$%$#'$


&""!#% %'!" %!$%#%$ " %%! " $ %%'$ "#!%$ 
"#%&# %!%!! !*
!* !#$"#&%! $!#"!*$! $
#!' %    $&""!#%


  

&%  #$ (# $$


&""!#% %" %%!  ! %!# ! %%'$
#!' '! %!!!$"%$
#!!%  !* !#$"#&%! $!#"!*$! $

 % %&)%+'&# 0$ /


)&$'*%+ &%'#%
5G98 CB H<9 5B5@MG=G C: H<9 85H5 H<5H
<5G 699B 7C@@97H98 5B8 H<9 F9GI@HG C:
H<99J5@I5H=CBC:B5HIF5@5GG9HG 5IH<CF=

H=9G K=@@ B998 HC 89G=;B H<9 57H=J=H=9G


H<5H G<CI@8 69 IB89FH5?9B  CF H<=G  H<9
%1>179>7ED8?B9D95CC8?E<4
'EBCE5@?<93IC3B55>9>7HC=89BH=:M
G85D85B D85B5 1B5 @?<93I 45K395>

7=9G H<5H <=B89F H<9 89J9@CDA9BH C:

97C
GMGH9AG9FJ=79G5B8GIGH5=B56@9
B5HIF5@F9GCIF79A5B5;9A9BH
65G98
57H=J=H=9G
>DB?4E35@?<93ICE@@?BD=51CEB5C
1>49>CDBE=5>DCH<5H75B69<9@D:I@
=B DIFGI=B; 97CGMGH9A G9FJ=79G 5B8
@C75@6=C
97CBCAM89J9@CDA9BH CF
9L5AD@9  AIB=7=D5@ 5IH<CF=H=9G 5B8
CH<9F @C75@ GH5?9<C@89FG C:H9B @57?
?BCK@98;9 C: GIGH5=B56@9 97CBCA=7
5B8 97C@C;=75@ D@5BB=B;  "B GI7<


&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

75G9G  H<9 7C<9G=CB DC@=7M GIDDCFH


75B698=F97H98HC75D57=HM6I=@8=B; 
HF5=B=B; 9L7<5B;9DFC;F5AA9G5B8
14F9C?BI13D9F9D95C
*9@9J5BH @9GGCBG 75B 69 @95FB98
:FCA 'CFH< 5FC@=B5  -+  ,<9 @C75@
7CBG9FJ5H=CB 5;9B7M C::9FG 5
HCC@6CL =B7@I8=B; 5 <5B86CC?  5
"+ 85H5G9H 5B8 K96 F9GCIF79G 
5@CB;K=H<HF5=B=B;:CF@C75@897=G=CB

A5?9FG ,<=G5=AGHC<9@D=B6I=@8=B;
B5HIF9
:F=9B8@M 7CAAIB=H=9G H<5H
7CBG9FJ9 897@=B=B; <56=H5HG 5@CB;

G=895BMB9K89J9@CDA9BHG)@95G9
G99 CC8)F57H=795G9

)&$$%+ &%
$1;5D8525CDEC5?6@?<93I9>CDBE=5>DCD81D
@B?=?D5<?31<29?53?>?=95C1>49>>?F1D9F5
31@9D1<9C1D9?>?>53?CICD5=C5BF935C
 :FFB

III 9AH B7 53

39D;5G>FGD7
!

 *55;CI>5B795CC::9F98IB89FCH<9F
,@?<9395C1>4CDB1D5795CCE381C
 ,<9 =C
97CBCAM +HF5H9;M :CF
IFCD9
 ,<9CAACB;F=7I@HIF5@)C@=7=9G
)  =B D5FH=7I@5F H<9 IFCD95B
;F=7I@HIF5@ IB8 :CF *IF5@ 9J9@CD

A9BH*
 ,<9 CAACB =G<9F=9G )C@=7=9G
)
 ,<9 "BH9;F5H98 &5F=H=A9 )C@=7M
"&)5B8
 - 9BJ=FCBA9BH5@ DC@=7=9G CB
B5C?EB35 56K395>3I 5>5B7I 3<9=1D5
7<5B;9  GIGH5=B56@9 IG9 C: B5HIF5@
F9GCIF79G5B8DFCH97H=CBC:6=C8=J9F

G=HM5B897CGMGH9AG
"H =G GI;;9GH98 H<5H F9;=CBG G<CI@8
IG9 H<9 C<9G=CB 5B8 +HFI7HIF5@
IB8G  9GD97=5@@M =B H<9 :F5A9KCF?

)&$$%+ &%
*55;CI>5B795CG9D8?D85B,@?<9395C1>4
CDB1D5795C

C: *"+  D? E>3?F5B D85 9>>?F1D9?>


@?D5>D91< ?6 53?CICD5=C C5BF935C
D? <514 D? CECD19>12<5 7B?GD8 6M
DFCACH=B;57H=J=H=9GIG=B;H<9G9H<F99
GHF5H9;=9G
 41@D1D9?> ?6 D85 5H9CD9>7
=51CEB5C@B?7B1==5C1>413D9F9
D95C57<7CIBHFMCFF9;=CB<5G@CB;

@5GH=B;  @C75@@M 5B8 B5H=CB5@@M 8F=J9B


DC@=7=9G5B8DFC;F5AA9GCB7CBG9F

J5H=CB 6=C8=J9FG=HM 5;F=7I@HIF9 @5B8 


G1D5B?B6?B5CDBI
%1. 28.,8786B ;89 72=2*=2?.
37:6/7/8>/. 38 #<38-/ .A+<.
<5*7- *7*-* *26< =8 *<<2<=
69-+6 0+<7/<= >9 :?<=?/ /7/<1381
7+<5/>9::9<>?83>3/=,C:<9.?-381
-<9:= 09< >2/ 69-+6 ,39/-9897C
A236=> A9<5381 >9 37:<9@/ >2/
/8@3<987/8>+6 =?=>+38+,363>C 90 >2/
#<9@38-/ 
,<9G9585DH5H=CBGHF5H9;=9G75B5@GC
=BJC@J9;F99B=B;H<9=BBCJ5H=J9DC@=7M
=BGHFIA9BHG H<5H GIDDCFH GIGH5=B

56@9 97CBCA=7 57H=J=H=9G =B J5F=CIG


G97HCFG  CF 9L5AD@9  89A5B8 G=89
A95GIF9G@=?9;F99BDI6@=7DFC7IF9

A9BH5B8;F99BGH5B85F8G5B879FH=

K31D9?> 31> 25 1@@<954 D? CE@@?BD


H<9 97CBCA=7 7CAD9H=H=J9B9GG C:
DFC8I7HG 5B8 ;CC8G DFC8I798 5B8
<5FJ9GH98=B5B97C@C;=75@@MGIGH5=B

56@9K5M ,<=G5@GC<9@DGHC9BGIF9H<9
97CBCA=7J=56=@=HMC:H<997C
:F=9B8@M
9BH9FDF=G9G =B 6=C
65G98 97CBCA=7
C53D?BC
+<-/698+3>C3=+199.366?=><+>398
%38-/  3> 2+= ,//8 +::6C381
$/=:98=3,6/ &37,/< #<9-?</7/8>
+8. >2?= +66 >2/ A99. :<9.?->=
:?<-2+=/. ,C 69-+6 +?>29<3>3/=
7?=> ,/ ./<3@/. 0<97 =?=>+38+,6/
/8;.<=;B"5.*<.<..88-";*,=2,.
*<.

 H@5B9=5>D1D9?> 1>4 45=?>CDB1
D9?>@B?:53DC31>9>3<E45

(*,!$-!'**%&!&-, '*!,!+

)=@CH =B=H=5H=J9G DFCACH=B; 97CGMGH9A


GIDDCFH5B897CBCA=789J9@CDA9BH 
K<=7< K=@@ <5J9 K=89F 8=GG9A=B5H=CB
@?D5>D91<6?B5H1=@<5
&2/ %A3== -3>C 90 +=/6 2+= >2/
6+<1/=> +</+ 90 1<//8 <990= :/<
-+:3>+ 38 >2/ A9<6. &23= 900/<=
>2/ :9>/8>3+6 >9 :<979>/ ,39.3@/<
=3>C </.?-/ <+38A+>/< <?8900 +8.
8?.;1.*=270*7-27D>.7,.98<2=2?.5B
>2/2/+6>2+8.A/66,/38190382+,3>
+8>=&23=%A3==/B:/<3/8-/=29A=
29A + -+7:+318 =><+>/1C -+8
>?<8 =?=>+38+,363>C 383>3+>3@/= 0<97
+ 98-/900 :369> 7/+=?</ 38>9 +
6*27<=;.*6*99;8*,1"5.*<.<..
88-";*,=2,.*<.

* DFC>97HG 89J9@CD=B; CF=;=B5@
F9G95F7< 5B8 H9GH=B; 75B ;9B9F5H9
=BBCJ5H=J9 H97<B=EI9G C: GIGH5=B

56@9 5B8 F9B9K56@9 F9GCIF79


65G98
DFC8I7H=CB 6IG=B9GG89J9@CDA9BH5B8
A5BMCH<9F=BBCJ5H=J957H=J=H=9GH<5HK=@@
I@H=A5H9@M 7CBHF=6IH9 HC 6=C
97CBCAM
45F5<?@=5>D6?B5H1=@<5
8 3889@+>3@/ </=/+<-2 ./@/69:
7/8> 98 -+<,98 =/;?/=><+>398 38
+1<3-?6>?</ /@/8>?+66C 6/. >9 >2/
/7/<1/8-/ 90 8/A 1/8/<+>398
90 % = :?<=?381 ?83;?/ 1<//8
,?=38/== 79./6= ,+=/. 98 =936
/-9=C=>/7 =/<@3-/= 90 -+<,98
<.:>.<=;*=287 "5.*<. <.. 88-
";*,=2,.*<.
 >F5CD=5>D 9> >1DEB1< 31@9D1< 1>4
7B55> 9>6B1CDBE3DEB5  GI7< 5G
:CF9GHG  F=J9FG  7C5GH5@ NCB9G  D5F?G 
97C
7CFF=8CFG 5B8 CH<9F B5HIF5@ CF
G9A=
B5HIF5@ :95HIF9G  ,<=G 7CI@8 69
H<9 ?9M HC A5=BH5=B=B; 5 GIGH5=B56@9
9BJ=FCBA9BH =B K<=7< H<9 97CBCAM
5B8 GC7=9HM 75B DFCGD9F HC;9H<9F 
"BJ9GH=B; =B B5HIF5@ F=G? DF9J9BH=CB
H<FCI;< 8=?9G 5B8 K9H@5B8G A95BG
H<5H H<9 7CGH C: 8=G5GH9F F9<56=@=H5

H=CB 75B 69 5JC=898 5B8 H<=G 7CGH


KCI@8BCFA5@@M69AI7<<=;<9FH<5B

DFCJ=8=B; GI7< 89:9B79G  ,<=G =G


F9@9J5BH6CH<=B=B7F95G=B;H<9B998
:CF 585DH5H=CB HC 7@=A5H9 7<5B;9
5B8 :CF H<9 DF9G9FJ5H=CB C: B5HIF5@
F9GCIF79G  /9@@
89G=;B98 8=G5GH9F
DF9J9BH=CB G7<9A9G 75B DF9G9FJ9
97CGMGH9A G9FJ=79G  GI7< 5G K5H9F
AE1<9DI1>4AE1>D9DI1>425>5KD29?49

J9FG=HM =B 5;F=7I@HIF5@ 5B8 7C5GH5@


NCB9G  +I7< =BJ9GHA9BHG 75B 5@GC
<5J95DCG=H=J99::97HCBH<9DCH9BH=5@
:CF @C75@ 97CBCA=7 89J9@CDA9BH 6M
7F95H=B; >C6G 5B8 G9FJ=79G  ,<9F9 =G
1<C? C97>9K31>D 9>>?F1D9?> @?D5>D91<
5G ;F99B =B:F5GHFI7HIF9 89J9@CDA9BH
F9EI=F9G 5 7CA6=B5H=CB C: 7F95H=J9
45C97>1>41C395>D9K321C5
!>>?F1

H=J95DDFC57<9G5B8=BGHFIA9BHG5F9
1@@<9549>6?<<?G9>7@B?:53DC
%1.#*$;..7*7-5>.$9*,.
-*9=*=287 /8; &;+*7 ;.*< *7-
,8=8@7< 9;83.,= 2+= /8+,6/.
?<,+8 ./=318/<= +<-23>/->= +8.
:6+88/<= +-<9== ?<9:/ >9 -</+>/
9< </79./6 9?>.99< =:+-/= +8.
,?36.381= >9 /8=?</ >2+> >2/C +</
</=363/8> >9 -637+>/ -2+81/ +8.
/B></7/A/+>2/<
$2F8/6:/= 2+= ?=/. 3889@+>3@/
-98><+->= A3>2 69-+6 =>+5/296./<=
>9 </=>9</ *1<//8 -9<<3.9<= >2+>
</.?-/ >2/ /<9=398 90 ,39.3@/<
=3>C &2/ -98><+->= 2+@/ 383>3+>/.
>2/-98=><?->39890-<9==381:938>=
09< A36.630/ +1<9/8@3<987/8>+6
7/+=?</= >2/ </=>9<+>398 90 <3@/<
,+85= +8. A/>6+8.= +A+</8/==
<+3=381+8.>2/+-;?3=3>398906+8.
,C>2/</1398+6+?>29<3>3/=

 :FFB

75 7GDAB3 7G

D79;A@3>2BA>;5K
BDA<75FE

EFAD;7E
67F3;>E2@7I 58?B3K!
,F:7EFA  >3@
D79;A@$$A4<$$B7D
678$&

 :FFB

75 7GDAB3 7G

D79;A@3>2BA>;5K
BDA<75FE

EFAD;7E
67F3;>E2@7I 58?B3K!
,F:7EFA  >3@
D79;A@$$A4<$$B7D
678$&

)&$$%+ &%
.89<5@<1>>9>79>F5CD=5>D9>7B55>
9>6B1CDBE3DEB5B5F95GD859>>?F1D9F51@@B?1385C
1>4D??<CG89381B521C54?>D85<1D5CD
B5C51B381>49>D5B>1D9?>1<5H@5B95>35

??4'B13D9351C5

, ('/*'%(+
"'.+,"' "' ( *)!""'(*&,"('
+1+,&(*+-+,"'"%",1

*

(+,

#&+ &%
B1>355B=1>I
*G9DJ5B<1>4 ,@@5B
)89>5B579?>
,% %*&,)
)579?>1<?F5B>
=5>DC)
,<9 -DD9F *<=B9 F9;=CB 9LH9B8G 57FCGG 5F95G C: F5B79  9FA5BM 5B8 +K=HN9F@5B8  "H <5G
7CBG=89F56@9DCH9BH=5@:CFF9B9K56@99B9F;MDFC8I7H=CB6IHH<9@57?C:DF9J=CIG7FCGG
6CF89F
7CCD9F5H=CB <5G <5AD9F98 H<9 89G=;B C: 5B 9::97H=J9 DC@=7M :F5A9KCF?  'CK <CK9J9F  H<9
C6>97H=J9C:H<9F9;=CB=GHC7F95H95 3?==?>75?7B1@8931<9>6?B=1D9?>CICD5= *:CF
7C@@97H=B; DFC79GG=B;5B8J=GI5@=G=B;85H5 ,<9CIH7CA9G<CI@8695G9HC:A5DG5B8GC7=C

97CBCA=785H5H<5HH<9-DD9F*<=B9CB:9F9B79 H<9:F5A9KCF?6C8M:CF7FCGG
6CF89F7CCD9F

5H=CB 5B8=HGD5FHB9FG75BIG9HCF957<=B:CFA98897=G=CBG56CIHH<9:IHIF9D@5BB=B;C:H<9
F9;=CB
(B9C:H<9DFC>97HG=BH<97C@@56CF5H=CB69HK99BF9B7<5B8 9FA5BIB=J9FG=H=9G5B8F9G95F7<
79BHF9G=G6I=@8=B;5 *21C54@<1>>9>7D??<6?BB5>5G12<55>5B7I,<=GHCC@57EI=F9G5B8
45F5<?@C41D13B51D5C13?==?><1>7E1751>445K>9D9?>C6?B>1D9?>1<41D13?=@1B9C?>3<1B9

K5CD85B978DCD?EC5D8541D11>4@B?F945C1>5H381>751>43?==E>931D9?>@<1D6?B=6?B41D1
49CDB92ED9?>
+85D?D1<6E>49>76?BD89C@B?:53D9CP1>481<6?6D89C1=?E>D9CK>1>354
6MH<9*
+85 3B?CC 2?B45B >1DEB5 ?6 D85 @B?:53D @B5C5>D54 C@539K3 D538>931< @B?2<5=C CE38 1C D85
49F5BC9DI?675?7B1@8931<@B?:53D9?>C1>449665B5>35C9>>1D9?>1<=5D8?4C1>445K>9D9?>C
+?
H57?@9H<9G9=GGI9G 7CAACBKCF?=B;DF57H=79G5B85B9HKCF?C:H97<B=7=5BGK9F989J9@CD98 
(J9F5@@  D85 @B?:53D 81C 85<@54 D? 3B51D5 1 3?==?> F9C9?> 6?B B579?>1< @<1>>9>7 1>4
45F5<?@=5>D"H=G5@GC<CD98H<5H=HK=@@<5FB9GGIB89FIG98F9;=CB5@DCH9BH=5@5B87CBHF=6IH9
HCH9FF=HCF=5@7C<9G=CB

$1&++ 
!>F5CD=5>D9>13AE9B9>7@B?35CC9>71>4F9CE1<9C9>775?7B1@8931<41D131>253?=51KBCD
GH9D=B89J=G=B;GIGH5=B56=@=HMGHF5H9;=9G 
?B6EBD85B9>6?B=1D9?>@<51C5C55
8DD@ C97BC 79C?B
?B7 1BD5C/?>>55C/)
8D=<



(*,!$-!'**%&!&-, '*!,!+

$*,) %')&)** %
')&)$$**,''&)+ %
&*0*+$**)- *
"B D@5BB=B; 5B8 =AD@9A9BH=B; 97CGMG

H9AGGIDDCFHDFC;F5AA9G5B8DFC>97HG
=H=G=ADCFH5BHHCA5=BH5=BH<9=BJC@J9A9BH
C: 6CH< 97CBCA=7 5B8 BCB
97CBCA=7
GH5?9<C@89FG  ,<9=F =BJC@J9A9BH =B
ACB=HCF=B;5B89J5@I5H=CB=G7FI7=5@ ,<9M
K=@@5@GC69<9@D:I@=B9BGIF=B;565@5B798
5GG9GGA9BH C: 5 DFC>97HG =AD57H 5B8
=B GI;;9GH=B; K5MG HC A=H=;5H9 B9;5H=J9
9::97HGCBH<997CGMGH9A65@5B79 
"H =G 5@GC =ADCFH5BH HC 5DD@M 5 7CADF9

85>C9F5 C5D ?6 9>4931D?BC D81D G9<< B5L53D


H<9 9BJ=FCBA9BH5@  97CBCA=7  =BBCJ5

H=J9 5B8 GC7=5@ F9GI@HG C: H<9 DFC>97H  "B

588=H=CB  9BJ=FCBA9BH5@ CIH7CA9 =B8=75

HCFG G<CI@8 7CJ9F 6CH< H<9 DCG=H=J9 5B8


B9;5H=J9 =AD57HG H<5H 75B 5DD95F K<9B
IG=B;97CGMGH9AF9GCIF79G5B8G9FJ=79G
/<=@9 H<=G ;I=89 DF9G9BHG GCA9 =B8=75

H=J9 9L5AD@9G C: =B8=75HCFG H<5H 75B 69


IG98 =B 97C
=BBCJ5H=CB DFC>97HG 5B8
DFC;F5AA9G)@95G9G99=;IF9 H<9
@<1>>5413D9F9D95CG9<<81F5D?B5L53DD85
:C7IG5B8C6>97H=J9GC:957<DFC>97H

)&$$%+ &%
5C97>1>41@@<I13?=@B585>C9F5=?>9D?B9>71>4
(8$/7$6,215;56(04(B(&6,1*(18,4210(16$/
53?>?=939>>?F1D9F51>4C?391<9=@13D
>3?EB175D859>F?<F5=5>D?61G945B39B3<5?6
CD1;58?<45BC9>D85$?653?CICD5=C

 ,) /$'#*& % +&)*+&,* %')&)$$*%')&!+*


*,''&)+ %&*0*+$*)- -#&'$%+

)*&,)
% +&)*

=B5B79=BJ9GH98Z

&,+',+
% +&)*

+E?AGC:@5B8H<5H<5J9
699BHIFB98=BHCD5F?

*9LD9B8=HIF9Z
&?
?6@1D5>DCK<54
'C C:HF99GD@5BH98
=B;F99B=B:F5GHFI7HIF9
DFC>97H
$AGC:F=J9F7@95B98ID

'C C:DI6@=75H=CBG
GI6A=HH98HC>CIFB5@G
'C C:F9DCFHG 6F=9:G
DFC8I798

!IA5B9::CFH85MG
,F5=B=B;7CIFG9G85MG Z
(F;5B=G5H=CB5@CFF9;I@5

HCFMA95BG=BHFC8I798
+E?AGC:@5B8GI6>97H
HC97CGMGH9AF9<56=@=H5

H=CBA95GIF9G

'C C:<CIG9<C@8G
=BJC@J98=B97C
5;F=6IG=

B9GG HCIF=GA6IG=B9GG
'C C:9BHF9DF9B9IFGH<5H
F979=J98HF5=B=B;=B5;FC

HCIF=GA6IG=B9GG

)*,#+
% +&)*
%- )&%$%+#
(F98I798
/5H9FCF5=FEI5@=HM=ADFCJ98
"B7F95G98J5@I9C:H<9G=H95B8B9=;<6CIF

F
<CC8
& %%&-+ &%
DD@=75H=CBC:D5H9BH=BDFC8I7H
)CDI@5F=HMG5@9GC:H<9B9KG9FJ=79G 97C
6=C
DFC8I7HG=BA5F?9H
&%&$ 
!>3B51C59>B5C?EB3556K395>3I?B@B?4E3D9F9DI
G5J=B;=B
(B?KD6B?=53? D?EB9C=45F5<?@=5>D
'C C:75F6CB7F98=HG;9B9F5H98
"B7F95G9=BHIFBCJ9FC:@C75@HCIF=GA 5;FC

6IG=B9GGG97HCFG
*9J9BI9G F9HIFBCB=BJ9GHA9BH=BZ
9<5J=CIF5@588=H=CB5@=HM
*& #
"ADFCJ98EI5@=HMC:@=:9 F97F95H=CB
'C C:;F99B>C6G7F95H98
C:D9CD@9K=H<=ADFCJ985779GGHC;F99B
=B:F5GHFI7HIF9


??4'B13D9351C5

*+('&+!$,!%*
+AGD57:FFB

III EFD3F:3?@: 9AH


(397E
+FD3F:3?& 2EE7EE;@9
F;?47D

*%('0%+"' *'
)-%")*(-*&',

*

(+,

#&+ &%
*@19> 1B35<?>1
,% %*&,)
9DI?61B35<?>1

,<
<9
=HMC::
=H
5F79@CB5
F7
5<
<5G;5=B985F9DIH5H=CB5G5IFCD95B@9589F=BGIGH5=B56@9DFC7IF9A9BH 
"B

 
 =H=A
=A
AD@9A9
9BH985;CJ9FBA9BH5@A95GIF9CB)5C@?>C92<5+9=25B'B?3EB5=5>D 5B8
5:IFH
FH<
<9F
F&
&5MCF5
F5@97F99K5G5DDFCJ98A5?=B;=H7CADI@GCFMH<5HKCC8DFC8I7HGDIF7<5G98
6MMAIB
IB
B=7=D5@@5IH<CF=H=9GG<CI@86989F=J98:FCAGIGH5=B56@9:CF9GHFM ,<997F999GH56@=G<985
5
>?>
> 5H3<ECC9F535BD9K31D9?>CICD5=?6CECD19>12<56?B5CD=1>175=5>D6?B9>CD1>3529?49F5BC9DI
DFCH97H==CB5B8<5FJ9GH7CBHFC@ K<=7<K5GIG985G5H9B89F=B;7F=H9F=CB=B5@@DI6@=7DFC7IF9

DFC
A9BHHG ,<9A95GIF9K5G@5IB7<98HCF98I79H<99BJ=FCBA9BH5@=AD57HC:H<97=HM6M57H=J9@M
DFC
CACH=B;H<9GIGH5=B56@9IG9C:B5HIF5@F9GCIF79G5B87CA65H=B;=@@9;5@@C;;=B; 
5F79@CB5<5G9BGIF985K=89IDH5?9C:H<=G;F99BDFC7IF9A9BHDC@=7M CF9L5AD@9 5@5F;9
C81B5?6D85G??4@EB381C542ID85%E>939@1<E>5B1<*5BF935>D5B@B9C53?=5C6B?=35BD9K54
GCIF79G "B588=H=CB 5@@69B7<9GDFC7IF986MH<9)5F?G5B8 5F89BG9D5FHA9BH5B89L<=6=

D9?>1>4@?CD5BCD1>4C?B45B542I?D85B9DI5@1BD=5>DC1B5=1456B?=35BD9K54G??4
+85
=B:CFA5H=CB:FCAH<9AIB=7=D5@6C8=9G=BJC@J98=BH<9DFC7IF9A9BHG G<CKGH<5H1B?E>4
2)6+(6,0%(4374&+$5(')420

62
9$5&(46,A('24,16+(342&(552)&(46,A&$6,21
+8ECD85>571D9F59=@13DC?>D8553?CICD5=CG5B5<1B75<I259>73EBD19<54
!CK9J9F H<9DC@=7M5@GCDF9G9BHG5@CHC:7<5@@9B;9G5GA5BMC:H<9H9B89F=B;DFC79GG9G:5798
D85@B?2<5=?6K>49>7CE@@<95BCD81D=5DD85CECD19>129<9DI3B9D5B91
<C?C?=5@B?4E3DC=1I
81F5C5@1B1D5@1BDC=1456B?=49665B5>DDI@5C?6D9=25B1>4D8ECD85I1B5496K3E<DD?1>1<IC5
K=H<=BH<9CJ9F5@@:F5A9KCF? ,<9=AD@9A9BH5H=CBC:H<=G;F99BDFC7IF9A9BHDC@=7M<5G5@GC
<=;<@=;<H98 H<9 B998 HC <5J9 5 DFCD9F ACB=HCF=B; GMGH9A =B D@579  G KCC8 =G IG98 =B H<9
J5@I97<5=BGC:5F5B;9C:DFC8I7HG5B8G9FJ=79G 5G79FH5=B=B;H<9GIGH5=B56=@=HMC:=HGCF=;=B=G
7CAD@9LDFC79GG:CF6CH<6IM9FG5B89B8C:7<5=BGIDD@=9FG
,CH57?@9H<9G97<5@@9B;9G H<9=HMCIB7=@C:5F79@CB5<5G7F95H985B=BH9FB5@7CAA=HH99
:FCA5@@GH5?9<C@89F89D5FHA9BHGHCACB=HCFH<9=AD@9A9BH5H=CBC:H<9DC@=7M ,<9:IHIF99::CFHG
C:5F79@CB5K=@@:C7IGCB57H=J=H=9GH<5HK=@@9LD5B8?BCK@98;956CIHGIGH5=B56@9KCC85B8
6?B5CDBI35BD9K31D9?>1=?>7CD1<<D8513D?BC9>F?<F54

$1&++ 
F99B DI6@=7 DFC7IF9A9BH =G 5 DCK9F:I@ HCC@ H<5H 75B 69 IG98 6M DI6@=7 5IH<CF=H=9G HC
588F9GGH<9=FGIGH5=B56=@=HMH5F;9HG 

?B6EBD85B9>6?B=1D9?>@<51C5C55
8DD@ GGG
93<59
?B7 9>45H
@8@94



??4'B13D9351C5

, *&*'/, ,''$'0
'(*,!*(%"')*(&(,+,!-+(
'."*('&',%,"',!)%''"' (*+"',"%*+

*

(+,

#&+ &%
,* %?BD81B?<9>1
,% %*&,)
*D1D5?6%?BD8
1B?<9>1

'C
CFH<
< 5FC
FC@=B5
B5
5 =G 9LLD9F=9B7=B; 5B IBDF97989BH98 ;FCKH< =B DCDI@5H=CB  9HK99B   5B8
 
H<
H<9 BIA69F
BI
F C: =B<56=H5BHG ;F9K 6M  5B8 6M    H<9 DCDI@5H=CB =G 9LD97H98 HC
=B7F95
=B
95G9
96
6M5:I
IFH<9F  ,<=GDCDI@5H=CB;FCKH<=G:I9@=B;D5HH9FBGC:@5B889J9@CDA9BHH<5H
H<F9
F95HH9B
9B H<9 B5HIF5@ 97CGMGH9AG 5B8 EI5@=HM C: @=:9  5G ACF9 5B8 ACF9 89J9@CDA9BHG C77IF
?EDC
DCC94
945 D85
5 39DI 35>DB5C
 EBB5>D<I ?F5B   ;= ?6 6?B5CDC 1>4 K5<4C 1B5 259>7 D1;5> 5138
M95F :CFF HH<9 7CBGHFI7H=CB C: <CA9G  KCF?D@579G  G<CDD=B; 79BHF9G 5B8 =B:F5GHFI7HIF9  ,<IG 
M9
'CFH<
<
5FC@=B5G7<5@@9B;9=GHC6I=@8>1DEB56B95>4<I3?==E>9D95CD81D3?>C5BF5453<9>9>7
81
129D1DC5@CB;G=89H<9G9B9K89J9@CDA9BHG
,C588F9GGH<=G7CB79FB H<9 F99B FCKH<,CC@6CLK5G=BHFC8I798=B  ,<=GDFC>97H=G
5 3??@5B1D9F5 >?>B57E<1D?BI 566?BD @98 6M H<9 /=@8@=:9 =J9FG=HM DFC;F5AA9 C: H<9 'CFH<
5FC@=B5/=@8@=:9*9GCIF79GCAA=GG=CB ,<9A5=BDF9A=G9IB89FD=BB=B;H<9 F99B FCKH<
,CC@6CL=GH<5HHC57<=9J9;F99B;FCKH< 7CAAIB=H=9GB998HCIG97CBG9FJ5H=CB85H5=BD@5BB=B;
57H=J=H=9G
,<9HCC@6CL5=AGHC6F=8;9H<9;5D69HK99BG7=9BH=GHG @5B8IG9D@5BB9FG 89J9@CD9FG5B8
@C75@897=G=CB
A5?9FG6MC::9F=B;K=@8@=:985H55B8=ADCFH5BHK=@8@=:97CBG9FJ5H=CBDF=B7=D@9G
GCH<5HK9@@
=B:CFA98897=G=CBG75B69A589H<5HG5:9;I5F8H<9B5HIF5@5GG9HG ,<9HCC@6CL
=B7@I89G 1 81>42??; 1  * 41D1C5D 5B8 1 G52 C9D5 ,<9 /=@8@=:9 *9GCIF79G CAA=GG=CB
KCF?G=BD5FHB9FG<=DK=H<CH<9FB5HIF5@F9GCIF79G5;9B7=9G5B8CF;5B=G5H=CBGHC89@=J9FHF5=B=B;
KCF?G<CDG5B8H97<B=75@;I=85B79
+C :5F   @C75@ ;CJ9FBA9BHG  =B7@I8=B; 7CIBH=9G 5B8 AIB=7=D5@=H=9G =B 'CFH< 5FC@=B5  <5J9
F979=J98H<9 F99B FCKH<,CC@6CLHF5=B=B; ,<=G<5G699B75FF=98CIHH<FCI;<KCF?G<CDG
G8938C@539K31<<ID1B75D54D8?C549CDB93DCD81DG5B55H@5B95>39>71C97>9K31>D45F5<?@=5>D
C:F9G=89BH=5@5F95G &CF9H<5B @C75@;CJ9FBA9BHG<5J9F979=J98H97<B=75@;I=85B79CB
@5B8IG9D@5BB=B;DFC>97HG ,<9CJ9F5F7<=B;C6>97H=J9C:H<9DFC>97H=GHC9BF=7<H<9EI5@=HMC:
@=:9=B'CFH<5FC@=B5 D9C5H@53D54D81DD851@@<931D9?>?6D85B55>B?GD8+??<2?HG9<<
85<@D?9=@B?F5G1D5BAE1<9DI@?9>DD?>5G53?D?EB9C=?@@?BDE>9D95C1>43?>DB92ED5D?
D853?>C5BF1D9?>?6G9<4<965B5C?EB35C1>4D85@B5C5BF1D9?>?6>1DEB1<85B9D175
$1&++ 
+IGH5=B56=@=HM C6>97H=J9G 75B 5@GC 69 588F9GG98 H<FCI;< 7CCD9F5H=J9  BCB
F9;I@5HCFM
A95GIF9G GI7<5GH<9F958M
HC
IG99BJ=FCBA9BH5@85H5HCC@6CL:CFF9;=CB5@D@5BB=B; 
?B6EBD85B9>6?B=1D9?>@<51C5C55
8DD@  


7B55>7B?GD8 2?ED/+
8D=



(*,!$-!'**%&!&-, '*!,!+

%*,$$)0
"B DIFGI=B; 97C
GMGH9AG G9FJ=79G 5B8 6=C
97CBCAM C6>97H=J9G J=5 *"+  H<9
&5B5;=B;IH<CF=H=9GG<CI@8:C7IGCBCDDCFHIB=H=9G:CF=BBCJ5H=CB ,<9G975B
25 6?E>4 9> D85 49B53D C395>D9K3 1>4 =?>9D?B9>7 13D9F9D95C D85 1@@<931D9?> ?6
7F95H=J9=895G=B;F99B=B:F5GHFI7HIF989G=;B5B8H<9=BBCJ5H=J95DDFC57<9GC:
6=C
65G989BHF9DF9B9IFG<=D89J9@CDA9BH
"H=G5@GC=ADCFH5BHHC89J9@CDD5FHB9FG<=DG69HK99B@C75@5IH<CF=H=9G H<9DF=J5H9
G97HCF  7CBG9FJ5H=CB CF;5B=G5H=CBG 5B8 CH<9F =BH9F9GH98 D5FH=9G  5G K9@@ 5G HC
=BJC@J97=H=N9BG ,<957H=J9D5FH=7=D5H=CBC:GI7<D5FHB9FG=BH<9ACB=HCF=B;5B8
9J5@I5H=CBC:97CGMGH9AG9FJ=79=B=H=5H=J9G=G9GG9BH=5@
=B5@@M =B97C
GMGH9AG9FJ=7975D=H5@=G5H=CB57H=J=H=9G =H=GB979GG5FMHC7CBH=B

E?EC<I B5L53D ?> D85 <9=9DC D? D85 EC5 1>4 CE2CD9DED9?> ?6 >1DEB1< 1CC5DC 2I
A5B
A589=B:F5GHFI7HIF9G5B8DFC8I7HG "H=G=ADCFH5BHHC9BGIF9H<5H97CBCA=7
;C5@G8CBCHCJ9FH5?99BJ=FCBA9BH5@C6>97H=J9G

,)+)) %
&*0*+$*)- *

*&,)

*) '+ &%

.)
+& % +
8DD@ 53
5EB?@1

9I 9BJ=FCBA9BH
B5HIF9 97CGMGH9AG
=B89L39B <HA

%- )&%
$%+

)FCJ=89G=B:CFA5H=CB5B8GHI8=9GCB;F99B=B:F5GHFI7HIF9G 

)*)

8DD@ 53
5EB?@1

"B7@I89G =B:CFA5H=CB CB IFCD95B =C


97CBCAM +HF5H9;M 
9I F9G95F7<
B5C51B386E>49>7>5GC1CG5<<1C3?E>DBI@B?K<5C1>4CE335CC
6=C97CBCAM =B89L3
GHCF=9G 
9B <HA

+

,<9 4*9DCFH CF %C75@ 5B8 *9;=CB5@ )C@=7M &5?9FG 9L5A=B9G


K<5H @C75@ ;CJ9FBA9BHG 75B 8C :CF B5HIF5@ F9GCIF79 IG9 5B8
A5B5;9A9BH "H;=J9GDF57H=75@;I=85B79CB<CKHC895@K=H<H<9 8DD@ GGG

7<5@@9B;9C:6=C8=J9FG=HM@CGG 5H5@C75@5B8F9;=CB5@@9J9@ ,<9 H996K96 CF;


F9DCFH=G5IG9:I@58J=GCFMHCC@:CFDC@=7M
A5?9FG 58A=B=GHF5HCFG
5B8A5B5;9FG 5B8=HK=@@5@GC69C:=BH9F9GHHCF9DF9G9BH5H=J9GC:
' (G F9;I@5HCFM6C8=9G5B8H<9>I8=7=5@GMGH9A

,)&'%
%- )&%$%+
%0

,<9F9DCFH4 F99B=B:F5GHFI7HIF95B8H9FF=HCF=5@7C<9G=CB9LD@CF9G
H<97CB79DHC:;F99B=B:F5GHFI7HIF95B87CBH5=BG:IFH<9F5B5@MG9G
C: H<9 =BH9;F5H=CB C: ;F99B =B:F5GHFI7HIF9 =BHC DC@=7M G97HCFG  "H
DFCJ=89G9L5AD@9GC:ACB=HCF=B;GMGH9AG5B8GD5H=5@=B:CFA5

H=CB H<5H 75B 69 IG98 HC D@5B ;F99B =B:F5GHFI7HIF9 5H B5H=CB5@
5B8F9;=CB5@@9J9@G "H5@GCDF9G9BHG5BIA69FC:;CC8DF57H=79
9L5AD@9GH<5HA=;<H=BGD=F9DFC>97H89J9@CD9FG

8DD@ GGG

995 9IFCD5 9I
DI6@=75H=CBG ;F99B

=B:F5GHFI7HIF9
5B8

H9FF=HCF=5@
7C<9G=CB



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

*+* &!&&'.,!'&!&
+-+,!&$&*1
, %!&%+++*'%, !+ (,*
+IGH5=B56@99B9F;M=BBCJ5H=CBG5F9H<9?9MHC57<=9J=B;H<9-7@=A5H95B89B9F;MH5F;9H
:CF  ?BCKB5GH<94

 H5F;9H 5B85@GCH<9H5F;9H:CF  C:5
 F98I7

H=CB=B75F6CB9A=GG=CBG
,<9 89J9@CDA9BH C: 75D56=@=H=9G =B GIGH5=B56@9 9B9F;M
F9@5H98 F9G95F7< 5B8 89J9@CD

A9BH5B889ACBGHF5H=CBDFC>97HGK=@@<9@DF9;=CBG5B8&9A69F+H5H9GHCA99HH<9-G
H5F;9HG:CF9B9F;M5B87@=A5H97<5B;9 ,<9+,)@5B 5GH<9-GHF5H9;M:CFF9G95F7<
1>49>>?F1D9?>9>D85K5<4?65>5B7I@B?F945C7E941>35?>D8513D9?>CD?25E>45BD1;5>
6M&9A69F+H5H9G
J9FM-&9A69F+H5H95B8F9;=CB<5GH<9DCH9BH=5@HC=BHFC8I79=BBCJ5H=CBG=BGIGH5=B

56@99B9F;M K<=7<75BF5B;9:FCAH<9GH5H9
C:
H<9
5FH*HC=BBCJ5H=J9=895G=B6I=@8=B;
AC6=@=HM 89G=;B5B89B9F;MA5B5;9A9BH

, (',&,!$,!'&+, ,+ '-$(-*+-


CC5CCB5>5G12<55>5B7I1>45>5B7I56K395>3I@?D5>D91<D81D9CD538>931<<I53?>?=931<<I
GC7=5@@M5B8GIGH5=B56@M9LD@C=H56@9
GG9GG*"5B8H97<BC@C;=75@DCH9BH=5@HCDIFGI9GIGH5=B56@99B9F;M=BBCJ5H=CBG
"89BH=:M65FF=9FGHCGIGH5=B56@99B9F;M=BBCJ5H=CBG5B889H9FA=B9A95GIF9GHC588F9GGH<9A
)IFGI9=BBCJ5H=CB=BH<9DC@=7M8CA5=B6M=BHFC8I7=B;5G9HC:A95GIF9G5B8=B79BH=J9GH<5H
K=@@:57=@=H5H9GIGH5=B56@99B9F;M=BBCJ5H=CBG5H9J9FMGH5;9C:H<9=BBCJ5H=CB7M7@9
+99? GMB9F;=9G K=H< CH<9F F9@9J5BH DFC;F5AA9G H<5H GIDDCFH * 5B8 89ACBGHF5H=CB
@B?:53DC9>D85K5<4?6CECD19>12<55>5B7I

, #1,'*+,'!&.'$.!&'+1+,%+*.!
+-(('*,!&!,!,!.+
%C75@IH<CF=H=9G
"BBCJ5H=CB5B8B9F;M;9B7=9G
+&G %5F;9CAD5B=9G ,97<BC@C;M)FCJ=89FG @IGH9F(F;5B=G5H=CBG5B8+(G
*9G95F7<(F;5B=G5H=CBG5B8-B=J9FG=H=9G
' (G5B8CBGIA9FGGC7=5H=CBG
=B5B7=5@7HCFG

, %'+,!%('*,&,!++-+,''&+!*
57<&+CFF9;=CB<5G=HGCKBG9HC:7CB8=H=CBG5B8:57HCFGH<5H75B8F=J9CF<=B89F=B=H=5H=J9G5B8
DFC>97HGH<5H5=AHCDFCACH9F9G95F7<5B8=BBCJ5H=CB=BGIGH5=B56@99B9F;M
57< &+ CF F9;=CB <5G =HG IB=EI9 B5HIF5@ DCH9BH=5@ :CF H<9 9LD@C=H5H=CB C: F9B9K56@9 9B9F;M
B5C?EB35C1CG5<<1C9DC?G>C@539K3C9DE1D9?>9>D5B=C?65>5B7I56K395>3I
138DI@5?6D538>?<?7I81C1C@539K3C5D?621BB95BC1>4B5C@?>4CD?@1BD93E<1B4B9F5BC
/<=@GH5A6=H=CIGGIGH5=B56@99B9F;M
:C7IG98*DFC;F5AA9G5F9BCH:95G=6@9=BA5BMF9;=CBG 
957<&9A69F+H5H9CFF9;=CB<5GCDDCFHIB=H=9GHCGH=AI@5H9=BBCJ5H=J9A95GIF9GK<9B=BJ9GH=B;
=BGIGH5=B56@99B9F;M=B6I=@8=B;G AC6=@=HM G9FJ=79G5B8CH<9F5F95G


(*,!$-!'**%&!&-, '*!,!+

&*+) %)*)
% %%&-+ &%&)
*,*+ %#%)0

 779@9F5H=B; ?BCK@98;9 89J9@CD

A9BH H97<BC@C;MHF5BG:9F5B8ID
H5?9

 &5=BH5=B=B; H<9 -G =B8IGHF=5@


@9589FG<=D =B @CK
75F6CB 9B9F;M
H97<BC@C;=9G
"BH<9- 9B9F;MDC@=7MC6>97H=J9G5F9
7@CG9@M @=B?98 HC GIGH5=B56=@=HM ;C5@G 
 CGH9F=B; G7=9B79 :CF HF5BG:CFA=B;
,C 57<=9J9 =HG 97CBCA=7  GC7=5@ 5B8
9B9F;MH97<BC@C;=9GHC57<=9J9H<9
9BJ=FCBA9BH5@ C6>97H=J9G  H<9 - <5G
   B9F;M 5B8 @=A5H9 <5B;9
HC588F9GGA5>CF9B9F;M
F9@5H98=GGI9G
;C5@G5B8
GI7< 5G 5 ;FCK=B; 89D9B89B79 CB
9B9F;M =ADCFHG  JC@5H=@9 C=@ 5B8 ;5G  CBHF=6IH=B;HCH<9KCF@8K=89HF5BG=

H=CB HC 5 @CK 75F6CB 97CBCAM 6M


DF=79G  7@=A5H9 7<5B;9  =B7F95G=B;
 
89A5B85B8C6GH57@9GHC5:I@@M7CAD9H

=H=J9=BH9FB5@9B9F;MA5F?9H 88F9GG=B; +I779GG =B 57<=9J=B; IFCD9G   


7@=A5H97<5B;9;C9G<5B8
=B
<5B8K=H< ;C5@G @5F;9@M 89D9B8G CB 897=G=CBG
5 ;F95H9F G97IF=HM C: 9B9F;M GIDD@M H5?9B 5H @C75@ 5B8 F9;=CB5@ @9J9@ 
:CF IFCD9  F95H9F IG9 C: GIGH5=B56@9 *9;=CB5@ )C@=7M D@5MG 5B 9GG9BH=5@ FC@9
9B9F;MGCIF79G5B8=BHFC8I7=B;9B9F;M =B6I=@8=B;H<9@CK75F6CB97CBCAM5B8
56K395>3I =51CEB5C 1B5 =5D8?4C ?6 8F=J=B;=BJ9GHA9BH=BGA5FH5B8GIGH5=B

F98I7=B; =HG 89D9B89B79 CB 9LH9FB5@ 56@9;FCKH<H<FCI;<588F9GG=B;7@=A5H9 


GCIF79G
9B9F;M5B89BJ=FCBA9BH5@=GGI9G
"B    5 7CAA=HA9BH K5G A589 HC
HF5BG:CFA IFCD9 =BHC 5 J9FM 9B9F;M

56K395>D <?G 31B2?> 53?>?=I


 +85 ,
G9H5G9F=9GC:89A5B8=B;7@=A5H95B8
9B9F;M H5F;9HG H<5H 5F9 HC 69 A9H 6M
  ?BCKB5GH<94

 H5F;9HG 

/<=@GH5:9KF9;=CBG5B8&9A69F+H5H9G
C: H<9 - 5F9 5@F958M KCF@8 @9589FG =B
5>5B7I 56K395>3I 1>4 9> D85 EC5 ?6
F9B9K56@9 9B9F;M GCIF79G  GI6GH5BH=5@
75H7<=B;
ID=GB99898=BCH<9FF9;=CBG 
@GC  =: H<9 - =G HC ?99D =HG @958=B;
,<9 - +HF5H9;=7 B9F;M ,97<BC@C;M DCG=H=CB  :IFH<9F F9G95F7< 5B8 =BBCJ5

)@5B+,
)@5B58CDH98=B  HCC? H=CB 9::CFHG 5F9 B99898 =B H<9 ACF9

H<9G9 H5F;9HG :IFH<9F 6M G9HH=B; 5    58J5B798&9A69F+H5H9G5B8F9;=CBG 


J=G=CB HC F98I79 - ;F99B<CIG9 ;5G ,<956=@=HMHCH5D=BHCGIGH5=B56@99B9F;M
9A=GG=CBG 6M  
  6M DIFGI=B; H97<BC@C;M89J9@CDA9BHGJ5F=9G57FCGG
D856?<<?G9>77?1<C
H<9 - 6975IG9 C: H<9 8=::9F9B79G =B

 :FFB

75 7GDAB3 7G

7GDAB7
B68
F3D97FE2
7@ B68

 +FD3F79;5@7D9K
,75:@A>A9K(>3@+,(>3@
:FFB

E7F;E 75 7GDAB3 7G
34AGF
E7F;E
I:3F;EF:7E7FB>3@

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

 *79;A@3>(A>;5K
5A@FD;4GF;@9FAEGEF3;@34>7
9DAIF:;@GDAB7 
:FFB

75 7GDAB3 7G
D79;A@3>2
BA>;5K

 :FFB

75 7GDAB3 7G

D79;A@3>2BA>;5K
BDA<75FE

B5HIF5@ 9B8CKA9BHG 5B8 97CBCA=7


7CB8=H=CBG  5G K9@@ 5G =B H<9 H97<BC

@C;=75@ 75D57=H=9G C: 957< - &9A69F


+H5H95B8F9;=CB

7CI@8 DFCJ=89 56CIH   588=H=CB5@


>C6G  ,<9F9:CF9  A5>CF 97CBCA=7 5B8
GC7=5@ ;5=BG :FCA =BJ9GHA9BH =B F9B9K

12<55>5B795C1>45>5B7I56K395>3I31>
699LD97H98 =BD5FH=7I@5F=B@9GG89J9@

,<IG  13895F9>7 D85




 D1B75DC
CD98F9;=CBG5B8&9A69F+H5H9G
13B?CC D85 B579?>C @?C5C 1 C5B9?EC
381<<5>75 G8938 G9<< B5AE9B5 6EBD85B ,<9 A5>CF=HM C: F9;=CBG <5J9 GCA9
DB1>C6?B=1D9?>?6D855>5B7ICICD5= H97<BC@C;=75@@M J=56@9 DCH9BH=5@ :CF
3?>D9>E?EC B5C51B38 1>4 9>>?F1D9?> F9B9K56@99B9F;M89D@CMA9BH K<=@95@@
81F5B??=6?B5>5B7I56K395>3I9=@B?F5

1>4B14931<<I>?F5<C?<ED9?>C
A9BHG *9;=CBG5B87=H=9G75B=BJ9GH=B
HH<9G5A9H=A9 57<=9J=B;H<9G9H5F;9HG
B5C51B38 1>4 9>>?F1D9?> 9> B5>5G
5@GC DFCJ=89G 5 F5B;9 C: CDDCFHIB=H=9G
$%/( (1(4*,(5 $1' (1(4*; ()A&,(1&; 
6?B53?>?=9345F5<?@=5>D9>3<E49>7
577CF8=B; HC H<9=F @C75@ 9B9F;M DCH9B

 LD5BG=CBC:6IG=B9GG9G5B8F9G95F7< H=5@ *9;=CBGG<CI@8G99F9B9K56@9G5B8


57H=J=H=9G=BF9B9K56@99B9F;M
5>5B7I56K395>3I1C4B9F5BC?645F5<?@

 >5B7I 56K395>3I 9> 9>4ECDBI 1>4 A9BH 5B8 GA5FH ;FCKH<  9GD97=5@@M =B
FIF5@ 5B8 7C5GH5@ 5F95G 5B8 =B F9ACH9
6I=@8=B;G5B8IF65BD@5BB=B;
F9;=CBG 5B8 =G@5B8G H<5H 75B H5D =BHC
 +IGH5=B56@9 6=C
:I9@ 5B8 6=CA5GG
D859B=1B9>55>5B7I@?D5>D91<
DFC8I7H=CB
8 /B-/66/8> /B+7:6/ -97/=
 +A5FH ;F=8G 5B8 CH<9F ", 65G98
0<97 %-9>6+8. A2/</ >2/ </8/A+
GC@IH=CBG:C7IG=B;CBACB=HCF=B;
,6/= $ :<91<+77/ 3= 09-?=/.
 B9F;M @CGG DF9J9BH=CB 5B8 <=;<9F
98 900=29</ </8/A+,6/ /8/<1C
5>5B7I56K395>3I@B?F9C9?>
&23= :<91<+77/ 2+= ,//8 13@/8
+8 37:9<>+8> <96/ 38 2/6:381 >2/
 I9@ 79@@ 5B8 <M8FC;9B H97<BC@C;M
%-9>>3=29@/<87/8>>9+-23/@/3>=
89J9@CDA9BH
>+<1/> 90 :<9.?-381 >2/ /;?3@+6/8>
 '9KAC6=@=HM5B8CH<9F=B=H=5H=J9G 
90
 90 %-9>6+8.= /6/-><3-3>C
./7+8.0<97</8/A+,6/=,C 
,<9G989J9@CDA9BHG5F95@GC9LD97H98
"5.*<. <.. 88- ";*,=2,. *<.
HC <9@D A=H=;5H9 H<9 =AD57H C: H<9


97CBCA=7 7F=G=G  HC 6CCGH GA5FH 5B8
GIGH5=B56@9 97CBCA=7 ;FCKH<  65G98
695.6.7=.- 27 =1. $8>=1 (.<=
CB=BBCJ5H=CB9::CFHG 5B8HC7F95H9B9K
90 816+8. >2/ (+@/ ?, 3= +8
>C6G 57FCGG IFCD9 5B8 =BH9FB5H=CB5@@M 
/B+7:6/90+:<94/->>2+>=?::9<>=
CF9L5AD@9 H<9CJ9F5@@9GH=A5H9GG<CK
>2/ +.@+8-/7/8> 90 >/-289691C
H<5H 57<=9J=B; H<9 - H5F;9H C: F9B9K

# *,=2?2=2.< 27 =1. C.5- 8/


56@9 9B9F;M 7CBHF=6IH=B;   C: H<9
7+<38/</8/A+,6//8/<1CA3>238+8
CJ9F5@@ 9B9F;M 7CBGIADH=CB 6M   
&87?.;0.7,.#.0287 

??4'B13D9351C5

*&++!&/!&
/.+&,!+

+(,%'"'.+,+"'(+!(*/"''&*"''* 1

+AGD57:FFB

5A3EF3>53D7 AD9


F;63>BAI7DF:7@7JFI3H7

*

)*(#,

(+,

#&+ &%
*3?D<1>4 %1D9?>G945
,% %*&,)
*3?DD9C8?F5B>=5>D
)

+7CH@5B8=G=B7F95G=B;@M9LD@C=H=B;H<997CBCA=7CDDCFHIB=H=9GH<5H5F99A9F;=B;:FCAH<9G<=:H
HCK5F8G 5 @CK 75F6CB 97CBCAM  "H =G 9GH=A5H98 H<5H +7CH@5B8 <5G 5FCIB8  C: IFCD9G
C::G<CF9K=B85B8H=85@9B9F;MF9GCIF79G5B8 C:=HGDCH9BH=5@K5J99B9F;M +C G9>41>4
=1B9>55>5B7ID538>?<?7I45F5<?@=5>D1B5@?<9D931<@B9?B9D95C 5B8H<9 CJ9FBA9BH<5G
G9H5B5A6=H=CIGH5F;9HC:DFC8I7=B; C:+7CH@5B8G9@97HF=7=HM89A5B8:FCAF9B9K56@9 
6M 
+85 ?66C8?B5 G9>4 5>5B7I C53D?B 81C C97>9K31>D 3?==5B391< @?D5>D91< 1>4 D85 B5>5G12<5C
=B8IGHFM7IFF9BH@MGIDDCFHGACF9H<5B >C6G57FCGG+7CH@5B8 ,<9D@5BGHC=BGH5@@IDHC
  =;5K5HHGC:C::G<CF9K=B8;9B9F5H=B;75D57=HM=B+7CHH=G<K5H9FG5F9DF98=7H98HC;9B9F5H9
5FCIB8O 6=@@=CBCFZ 6=@@=CBC:=BJ9GHA9BH6M  ,<=GK=@@7F95H9IDHC >C6G=B
H<9=B8IGHFM5B85:IFH<9F >C6G=BGIDDCFH=B;=B8IGHF=9G5B8G9FJ=79G CJ9FH<9G5A9
D9F=C8C:H=A9
+7CH@5B8=G7IFF9BH@M5KCF@8@9589F=BK5J95B8H=85@9B9F;MH97<BC@C;=9G5G5F9GI@HC:=HG
577IAI@5H989LD9FH=G9 =HGF5B;9C:H9GH:57=@=H=9G5B8=HG@5F;975D57=HM:CF9B9F;MDFC8I7H=CB
::CFHG <5J9 5@GC 699B 89JCH98 HC GIDDCFH=B; 6IG=B9GG 89J9@CDA9BH =B H97<BC@C;M A5=BH9

B5B79G9FJ=79G "+()2&752)!&26/$1'?5564$6(*;,5126-75621+2962%(56+$41(55,65
8E75>1DEB1<B5C?EB35C2ED1<C??>8?GD?45F5<?@>5HD75>5B1D9?>B5>5G12<5D538>?<
?795C6?B17<?21<=1B;5D
,<9A5=B9@9A9BHGC:H<9+7CHH=G<F9B9K56@99B9F;MGHF5H9;M=B7@I89CDB?>77?F5B>=5>D
2EC9>5CC13145=933??@5B1D9?>1>1DDB13D9F5B579=56?B9>F5CD?BCCE2C9495C6?BD5CD9>7
5B845@<?I9>7D538>?<?795C9>F5CD=5>D9>9>6B1CDBE3DEB51>4D85B57E<1D?BI5>F9B?>=5>D
5B8H<995F@M89J9@CDA9BHC:1CDB?>7@??<?65H@5BD9C5

$1&++ 
,<9+7CHH=G<F9B9K56@99B9F;MGHF5H9;M89ACBGHF5H9G<CK5A6=H=CIG;CJ9FBA9BHH5F;9HG
75BDFCACH9GIGH5=B56@9;FCKH<5B8<CK5K9@@H<CI;<HCIHA=LC:GIDDCFHA95GIF9G75B
<9@DHC57<=9J9H<9CJ9F5@@;C5@GC:GI7<5GHF5H9;M
?B6EBD85B9>6?B=1D9?>@<51C5C55

8DD@ GGG
?66C8?B5G9>4C3?D<1>4
?B7
E;

8DD@ GGG
C3?DD9C8 5>D5B@B9C5
3?= 12?ED EC .81D G5 4? <?G 31B2?> 5<9F5B9>7 <?G

75F6CB
CDDCFHIB=H=9G 5GDL

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

A(/'56+$6+$8(6+(%(563(453(&6,8(5
6?BCECD19>12<51>4C=1BD7B?GD81>4
7<?21<3?=@5D9D9F5>5CC!9F9 H<9M75B
2E9<4?>5>DB5@B5>5EB91<49C3?F5BI1>4
9>>?F1D9?> 1>4 B5C51B38 @B?35CC5C
K<=7< K=@@ 9B56@9 H<9A HC 6I=@8 IB=EI9
?BCK@98;95B8K=@@5@GC7CBHF=6IH9HCH<9
<=;<9F 7CAD9H=H=J9B9GG C: H<9 F9;=CB CF
H<97CIBHFM7CB79FB98

&''&)+,% + *
&))*)%
%%&-+ &%* %
*,*+ %#%)0
%+$$)*++*
%) &%*
,<9 97CBCA=7 5B8 =BBCJ5H=CB CDDCF

HIB=H=9G F9@5H98 HC GIGH5=B56@9 9B9F;M


=B H<9 -G F9;=CBG 5B8 &9A69F +H5H9G
5F9 J5GH  !CK9J9F  =H =G =ADCFH5BH H<5H
F9;=CBGDCG=H=CBH<9AG9@J9GGHF5H9;=75@@M
=B G9@97H=B; =BJ9GHA9BH GHF5H9;=9G IB89F
F9;=CB5@ DC@=7M  "H =G DCGG=6@9 HC =89BH=:M
HKC 8=GH=B7H 5DDFC57<9G HC =BJ9GH=B; =B
CECD19>12<55>5B7I

"B DFCACH=B; H<9 GIGH5=B56@9 9B9F;M


H5F;9HGJ=5H<9*"+ F9;=CBG5B8&9A69F
+H5H9G75BG9@97HJ5F=CIG5DDFC57<9GH<5H
1B5 E>9AE5 1>4 KD 3<?C5<I G9D8 D85 <?31<
7CBH9LH  F9GCIF79 9B8CKA9BH  H97<BC

@C;=75@75D57=H=9G5B8F95@B998G 
CF 9L5AD@9  H<9 5A6=H=CIG 5B8 *
=BH9BG=J9 DFC;F5AA9G H<5H 5=A HC DIG<
F9;=CBG HC H<9 :FCBH@=B9G C: H<9 ;@C65@
A5F?9H  GI7< 5G H<9 CB9 DIFGI98 =B
+7CH@5B8 )@95G9 G99 CC8 )F57H=79
5G9   KCI@8 69 J9FM 7<5@@9B;=B;
:CF A5BM CH<9F F9;=CBG 5B8 7CIBHF=9G HC
DIFGI9 '9J9FH<9@9GG 5@@F9;=CBG75BH5D
=BHC =BBCJ5H=J9 DF57H=79G 65G98 CB H<9
=ADFCJ98 CF;5B=G5H=CB C: =B8IGHF=9G 5B8
<CIG=B; G97HCFG  BCJ9@ 9B9F;M A5B5;9

A9BH=BGHFIA9BHG5B8@CK
H97<=BBCJ5H=J9
GC@IH=CBG 69GH 58>IGH98 HC @C75@ 7CB8=

H=CBG 

 "BJ9GHA9BH =B F9B9K56@9 9B9F;M


9>CD1<<1D9?> 21C93 5>5B7I 56K395>3I
A95GIF9G5B8GA5FH;F=8G K<=7<5F9
@@ F9;=CBG 5F9 9B7CIF5;98 HC A5?9 H<9
K=89@MG99B=BF9;=CB5@DFC>97HG5B8
69GHDCGG=6@9IG9C:9L=GH=B;GH5H9
C:
H<9

 "BJ9GHA9BH=BGH5H9
C:
H<9
5FHF9G95F7< 5FH?BCK@98;95B8DIFGI9@C75@7CBH9LH

5B8=BBCJ5H=CB=BGIGH5=B56@99B9F;M CF=9BH98 =BBCJ5H=J9 =895G =B =BH9;F5H=B;


GI7<5GH97<BC@C;=9G5B858J5B798 H<9 GIGH5=B56@9 9B9F;M C6>97H=J9G
5>5B7I 56K395>3I =1D5B91<C 1>4 5B8 57H=J=H=9G =BHC H<9 F9;=CBG *"+  "B
A95GIF9G 
5GG9GG=B; H<9=F DCG=H=CBG 5B8 5GG9HG :CF
 :FFB

E7F;E 75 7GDAB3
.89<5 D85 25>5KDC ?6 D85 9>F5CD=5>D H<9=F*"+GHF5H9;=9G &9A69F+H5H9G5B8
7G
34AGFE7F;E
F75:@A>A9K
=B 9B9F;M =B:F5GHFI7HIF9 5B8 9B9F;M F9;=CBG5F9=BJ=H98HCA5?9:I@@IG9C:H<9
DA36?3B
F:7E7FB>3@
56K395>3I13D9F9D95C1B5G5<<B53?7>9C549D ?BCK@98;9 89J9@CD98 K=H<=B H<9 :F5A9

DA36?3BA@>AI53D4A@
=GGHF5H9;=75@@M=ADCFH5BHH<5HF9;=CBG5B8 G?B; ?6 D85 *+ (<1>
 +85I 31> 25>5KD
7@7D9KF75:@A>A9;7E
H<9 &9A69F +H5H9G 5@GC 6?3EC ?> D85 7CBG=89F56@M :FCA IG=B; H<9 *+'<1>
)?14=1@C K<=7< DIH :CFK5F8 7CB7F9H9
57H=CBD@5BG5=A985HF5=G=B;H<9A5HIF=HM
)&$$%+ &%
?6945>D9K54D538>?<?795CD?1<5F5<D81D
2&75215756$,1$%/((1(4*;A(/'59,6+
K=@@9B56@9H<9AHC57<=9J9@5F;9A5F?9H
D8525CD@5BC@53D9F5C6?B7B?GD81>47<?21<
G<5F9G 6M     5G K9@@ 5G IG=B; H<9
3?=@5D9D9F5>5CC2E9<49>7?>D855>DB5@B5>5EB91<
*+'<1> +538>?<?7I $1@ 89J9@CD98
',5&28(4;342&(5562'(A1($4($5)244(5($4&+
6M H<9   5G 5 GCIF79 C: F9@=56@9 5B8
1>49>>?F1D9?>



(*,!$-!'**%&!&-, '*!,!+

+*
+'#%)&$'* 945>DD96I6?B5138D538>
>?<?7I
,<9
9?9M7<5@@9B;9G5B86CHH@9B
B97?G
,<9
957H=CBGHC69IB89FH5?9BHC
CH57?@9H<9A
,<9
9=BJ9GHA9BHB998985B8H<9
9ACGHGI=H98=BGHFFIA9BHHG
,<9
97C<9F9B7969HK99B57H=CBGG5H-5B8&9A6
69F+H5
5H9@9J9@
,<9
9DF=CF=H=9G
,<9
9CDH=A5@@9J9@C:=BH9FJ9BH=CB
B
,<9
9DCGG=6@9=AD57HGCBH<9DC
C@=7M;C5@G 
+*
+'#%+%&#&0$
'@B?F945C
7
7CB7=G95GG9GGA9BHC:5K=89
9DCFH:C@=CC:@CK
7
75F6CB
B9B9F;MH97
7<BC@C;=9G
,<9
9=F 7IFF9BH 5B8 :IHIF9 A5F?9
9H D9B9HF5H=CB 5B8
8 H<9 65FF=9FG HC H<9=F @5F;9

G75
5@989D@CMA9BH
,<9
9CB
;C=B;5B8D@5BB98*
5B889ACBGHF5H=CB9::C
CFHG
*9::9F9B79J5@I9G:CFH<9=FCD9F5
5H=CB5@5B897CBCA
A=7D9
9F:CFA5B79 K<=7<75B
69I
IG98:CFAC89@@=B;5B85B5@MMH=75@KCF?HCGIDD
DCFHH<9
9=AD@9A9BH5
5H=CBC:H<9
+,
,
)@5B
,<9,97
7<BC@C;M&5DK5G@5GHID85H9
98=B 5B8=HBC
CK=B7@I89G H97
7<BC@C;=9G 
7CJ9F=B
B;H<9K<C@9GD97HFIAC:H<99
9B9F;MGMGH9A ,<
<9 
5B8 ,
,97<BC@C;M
%1@C3
31>251335CC541D
8DD@ C5
5D9C
53
5EB?@1
5E 12?ED C5D9CC D538>?<?7I =1@

+*
+'#%' +0$'
,<=G&5
5DGF9DCFHGDFCJ=895FCI;<
<9GH=A5H9C:H<97
7IFF9BH7CFDCF5H95
5B8DI6@=7
F9G95F7
7<5B889J9@CDA9BH=BJ9GHA
A9BHG=B@CK
75F6CB
B9B9F;MH97<BC@C
C;=9G=BH<9
-
 ,<9C6>97H=J9=GHCC::9F56
69B7<A5F?C:7IFFF9BH*
GD9B8=B
B;HCG9FJ9
5G565
5G=G:CF7CAD5F=GCBK=H<:IHI
IF9*=BJ9GHA9
9BHG =B
BCF89FHC58
88F9GGH<9
;5ID53
38>?<?7I381<<5>75C945>D9K5
549>D85*+ (<1>
>
+85  
1>4 
1@139DDI%1@C31>251335CC541DD
8DD@ C5
5D9C
53
5EB?@1
5E 12?ED C5D9CC 1>1<IC5C

 ,) *+'#%*,''&)++&&#*

DF57H=75@=B:CFA5H=CBCB9B9F;MH97<BC@C

;=9G  BCH<9F J5@I56@9 F9GCIF79 =G H<9


*+'<1> 1@139D95C $1@ H<5H 7CJ9FG
* =BJ9GHA9BHG =B @CK
75F6CB 9B9F;M
H97<BC@C;=9GK=H<=B+,
)@5B)@95G9G99
=;IF9
/9@@
89G=;B98 @?<93I CE@@?BD 9>CDBE
=5>DC 5F9 =ADCFH5BH =B 9B<5B7=B; H<9
H5?9
ID C: GIGH5=B56@9 9B9F;M =BBCJ5

H=CB5H@C75@@9J9@ '5H=CB5@5B8F9;=CB5@
5IH<CF=H=9G <5J9 H<9 =BBCJ5H=J9 DC@=7M

)&$$%+ &%
>9>D57B1D9>7CECD19>12<55>5B7I9>D?I?EB) * 
3??@5B1D5G9D8D85>1D9?>1<B5@B5C5>D1D9F5C9>
6+(!"/$1!6((4,1*427362%(1(A6)420
5;1(4*,(59,6+26+(4,1,6,$6,8(5$1'&2A1$1&,1*
?@@?BDE>9D95C



??4'B13D9351C5 

+-+,!&$-!$!&+

,! *'-"%"' +%-+,*"'%(/*-+,*"+!(/++-++

*

+AGD57*79;A+F3DEI3D6E BG4>;53F;A@

)*(#,

(+,

#&+ &%
ECDB91 #?G5BEC
DB91
,% %*&,)
?F5B>=5>D?6#?G5B
ECDB91ECDB91>
%1D9?>1<?F5B>=5>D
)

,<9 F99B I=@8=B;G @IGH9F <5G 8F=J9B 7CCD9F5H=CB 69HK99B =BBCJ5H=J9 7CAD5B=9G =B H<9
K5<4C?6CECD19>12<52E9<49>7B56EB29C8=5>D1>4<9F9>71>4<965CDI<5C9>$?G5BECDB91
!D81C
6?B754CI>5B795C5B85H@1>454>5DG?B;C25DG55><?31<5>D5B@B9C5C)?B71>9C1D9?>C
1>4C;9<<543B16DC=5>,<9G9=ADFCJ98F9@5H=CBG<=DG<5J9GH=AI@5H98=BBCJ5H=CB=BH<9F9:IF

6=G<A9BHC:6I=@8=B;G DFCACH98H<9IG9C:@CK
9B9F;M GIGH5=B56@99B9F;MH97<BC@C;=9G5B8
F9GI@H98=B<95@H<=9F=BH9F=CFG5B8ACF97CA:CFH56@9GH5B85F8GC:@=J=B;
%CK9FIGHF=5<5GA5BMAI@H=
GHCFM6I=@8=B;G5B8CJ9F<5@:5A=@@=CBG=B;@9
:5A=@M<CIG9GH<5H
5F9C@85B8=BB998C:F9:IF6=G<A9BH 57?=B  H<9F9;=CBF97C;B=G98H<9CDDCFHIB=H=9G
D81D 5>5B7I 56K395>3I 9=@B?F5=5>DC 3?E<4 2B9>7 D? <?31< 53?>?=93 45F5<?@=5>D
 +85> 9>
  H<99L=GH=B;,=A69F@IGH9F5B8H<9 F99BI=@8=B;@IGH9FA9F;985B8H<=GB9KB9HKCF?
<5G57IFF9BHA9A69FG<=DC:CJ9F 7@IGH9FD5FHB9FG ACF9H<5B C:K<=7<5F9+&G
,<97@IGH9FC::9FGC@5391<9C543?>CE<D1>3I1>4DB19>9>7C5BF935C:CF=HGA9A69FGHC=ADFCJ9
D859B 3??@5B1D9?> AE1<9K31D9?> =1B;5D9>7 1>4 3?==E>931D9?>C
 +85 3<ECD5B 9C 1<C? D85 KBCD
7CBH57HDC=BH:CFH<CG9:FCACIHG=89 K<C5F9G99?=B;=BH9FB5H=CB5@D5FHB9FG<=DGK=H<DFC>97HG
9>D85B579?>
!D81C1<C?85<@54D?C81@52E9<49>73?45C1>4>5GK>1>391<9>35>D9F5C1>4>?G
5FCIB8 C:5@@H<9B9K6I=@8=B;G5F9D5GG=J99B9F;M<CIG9G
+8553?>?=939=@13D?6D85B55>E9<49>7C<ECD5B81C255>C97>9K31>D
 >9DCD5>I51BC?6
$&6,8,6;,16+(4(*,21  342-(&65+$8(%((1&$44,('2769,6+$626$/8$/7(2)@ 0,//,21
"+(5( 342-(&65? $&6,8,6,(5 +$8( &4($6(' $1 $'',6,21$/   -2%5 $1' +$8( +$' $''(' $
626$/8$/7(2)@  0,//,21626+(29(47564,$4(*,21,<9HCH5@7CGHC:H<97@IGH9FG-
7C
:IB89857H=J=H=9G=BH<9D9F=C8 
 =G9GH=A5H98HC5ACIBHHCCJ9FZ A=@@=CB K=H<5
HCH5@*7CBHF=6IH=CBC:5FCIB8Z 

$1&++ 
@IGH9FG75B69A98=5H=B;D@5H:CFAGCBK<=7<HC6I=@8F9@5H=CBG<=DG5B8HFIGH69HK99B@C75@
+&G @5F;97CAD5B=9G F9G95F7<9FG5B8DI6@=758A=B=GHF5H=CB ,<=G<9@DGHCG<5D9=BBCJ5

H=CB
:F=9B8@M:F5A9KCF?7CB8=H=CBG5B8DFCACH9GH<9=BH9FB5H=CB5@=G5H=CBC:9BH9FDF=G9G 
?B6EBD85B9>6?B=1D9?>@<51C5C55

8DD@ GGG
53?@<EC
1D 5> 53?@<EC 3<ECD5B 7B55> 2E9<49>7

8DD@ GGG
D39 >5DG?B;
?B7 >5GC 31B4 



(*,!$-!'**%&!&-, '*!,!+

9>CDBE=5>DC1>4C@539K345<9F5BI=5381

B=GAG C: H<9 *"+ :F5A9KCF? 5H H<9=F


49C@?C1<
+85C531>9>3<E452?D8
 +IDD@M G=89 A95GIF9G H<5H 8=F97H@M
GIDDCFH *  =BBCJ5H=CB 5B8 =AD@9

A9BH5H=CB 57H=J=H=9G GI7< 5G ;F5BHG 


GI6G=8=9G  75D57=HM 6I=@8=B; 5B8
=B:F5GHFI7HIF9DFCJ=G=CB5B8
 9A5B8G=89A95GIF9GGI7<5G;F99B
DI6@=7 CF DF9:9F9BH=5@ DFC7IF9A9BH 
:998
=B
H5F=::G  97C
JCI7<9FG 5B8
ACH=J5H=CB G7<9A9G :CF 7CBGIA9FG 
,<9G9 =B8=F97H@M =B7F95G9 H<9 H5?9
ID C: 7@95B 9B9F;M H97<BC@C;=9G
1>4 C5BF935C 1>4 5>5B7I 56K395>D
A5H9F=5@G HF5BGDCFH5B8DFC8I7HG
"B CF89F HC GHF9B;H<9B H<9 89A5B8 G=89
=BBCJ5H=CB  @E2<93 1ED8?B9D95C C8?E<4
@<1I 1> 5H5=@<1BI B?<5 B =@@IGHF5H=CB
C: H<=G A=;<H =BJC@J9 H<9 CD1D5?6D85
1BD B5>?F1D9?> ?6 @E2<93 2E9<49>7C HC
9=@B?F55>5B7I56K395>3I1>4D85EC5?6
F9B9K56@99B9F;M "BD@5M=B;GI7<5FC@9 
H<9M 5F9 =BJ=H98 HC 6I=@8 CB H<9 F9GI@HG
C: F9G95F7< DFC>97HG IB89F H<9 B9F;M

56K395>D E9<49>7C 5 ((( CE@@?BD54


6M) 5GK9@@5GCBCH<9FF9@9J5BH-
@9J9@5B8B5H=CB5@F9G95F7< 

)&$$%+ &%
+1;51>5H5=@<1BIB?<52I9>DB?4E39>7CD1D5?6
D851BD5>5B7I9=@B?F5=5>DC9>@E2<932E9<49>7C
D8ECCDB5>7D85>9>7D859>>?F1D9?>45=1>4C945

75F6CB 75DHIF9 5B8 GHCF5;9  K<=7<


GHF=J9 HC 5779@9F5H9 7CAA9F7=5@=G5

H=CBC:=BBCJ5H=J9H97<BC@C;=9G
 ,<9 IFCD95B B9F;M *9G95F7<
@@=5B79 * K<=7< GIDDCFHG H<9
+, )@5B 6M 5779@9F5H=B; 89J9@CD

A9BHC:9B9F;MH97<BC@C;=9GH<FCI;<
>C=BH *  =B 7@CG9 7CCD9F5H=CB K=H<
-  &9A69F +H5H9G 5B8 IFCD95B
"B8IGHFM
 )I6@=7 )F=J5H9 )5FHB9FG<=D B9F;M

56K395>DE9<49>7C5G8938?665B
Z 6=@@=CB HC 6CCGH H<9 7CBGHFI7H=CB
G97HCF 6M F9G95F7<=B; A9H<C8G 5B8
H97<BC@C;=9G HC G@5G< H<9 9B9F;M
7CBGIADH=CB 5B8 ( 9A=GG=CBG C:
B9K5B8F9BCJ5H986I=@8=B;G
 ,<9 CJ9B5BH C: &5MCFG H<5H JC@IB

H5F=@M 7CAA=HG H<9=F AIB=7=D5@=H=9G HC


9>3B51C55>5B7I56K395>3I1>4D?EC5
F9B9K56@99B9F;MGCIF79G 

,<98=F97H=CBG5B89L5AD@9G;=J9B=BH<=G
@GC 5BIA69FC:H<9EB?@51>9>9D91D9F5C
;I=89CB@MF9DF9G9BHGCA9C:H<9CDDCF

31>?665B3?=@<5=5>D1BI1@@B?1385CHC
HIB=H=9G H<5H &9A69F +H5H9G CF F9;=CBG
H<9 GIGH5=B56@9 9B9F;M DFCACH=CB 9::CFHG
75B 9LD@C=H =B DFCACH=B; F9G95F7< 5B8
IB89F*"+ ,<9G9=B7@I89
=BBCJ5H=CB =B GIGH5=B56@9 9B9F;M K=H<=B
 ,<9 - *9G95F7< F5A9KCF? H<9:F5A9KCF?C:*"+ 
)FC;F5AA9 ) :CF F9G95F7< 5B8
LD9F=9B79 <5G G<CKB H<5H F9;=CBG 5F9
=BBCJ5H=CB  K<=7< <5G 5 898=75H98
H<9?9M57HCFG=B89J9@CD=B;D538>?<?7I
4B9F;MH<9A95B8CH<9FG588F9GG=B;
3<ECD5BC H<5H DIFGI9 5 F5B;9 C: 57H=J=

9B9F;M
F9@9J5BH=GGI9G=BH<9CCD9F

H=9G 5@CB; H<9 =BBCJ5H=CB 7<5=B GH5FH=B;


5H=CB)FC;F5AA9
:FCA * H<FCI;< 7CAA9F7=5@=G5H=CB HC
 +A5FH =H=9G 5B8 CAAIB=H=9G A5F?9H 8=GG9A=B5H=CB  ,<9 57H=J=H=9G C:
IFCD95B "BBCJ5H=CB )5FHB9FG<=D  GI7<7@IGH9FG75B69H5=@CF98HCH<9@C75@
K<=7<GIDDCFHGH<989ACBGHF5H=CBC: 7CBH9LH  F9GCIF79 DCH9BH=5@ 5B8 9B9F;M
9B9F;M HF5BGDCFH5B8=B:CFA5H=CB5B8 >554C?65138B579?>
7CAAIB=75H=CBH97<BC@C;=9G",=B
%1. *5=2, 7.;0B 5><=.; 88-
IF65B5F95G
";*,=2,. *<.
 27=;8->,.< *7-
 ,<9 IFCD95B "B8IGHF=5@ "B=H=5H=J9G
:<979>/= .3=><3,?>/. -91/8/<+
C:H<9+,
)@5B=BH<95F95GC:K=B8 
>398A23-23=>2/=37?6>+8/9?==7+66
GC@5F 6=C
9B9F;M 9@97HF=7=HM;F=8G5B8
+8. 7/.3?7 =-+6/ :<9.?->398 90

 :FFB

III 75FB AD9

7@7IEBADF3>
;@67J
B:BABF;A@5A?2
5A@F7@FH;7I3DF;5>7;6
 774BBBBDA<75FD7H;7I
:3E477@BG4>;E:7653F;
6BG4>;53F;A@E!F7?;6

 (>73E7E773>EA+75F;A@
A8F:;EG;67I:;5:
BDAH;67E>3D97DAH7DH;7IA8
5A?B>7?7@F3DK;@;F;3F;H7E

 :FFB

75 7GDAB3 7G

D7E73D5:
8B
;@67J27@ 58?

 :FFB

75 7GDAB3 7G

7@7D9K
F75:@A>A9K
;@;F;3F;H7E

E?3DF25;F;7E27@ :F?

 :FFB

E7F;E 75 7GDAB3 7G

;?B>7?7@F3F;A@
7;;

 III 7 47; 7G

 III 7G?3KADE 7G
34AGF

5AH7@3@FA8?3KADE27@ :F?>



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

 :FFB

7@ I;=;B76;3 AD9

I;=;
@7D9K2E7DH;5725A?B3@K

 :FFB

75 7GDAB3 7G

D79;A@3>2BA>;5K
H;67AE
H;67A
67F3;>E 58?H;6 $&&



>2/<7+6/8/<1C+8./6/-><3-3>C0<97 7CA6=B=B;G9J9F5@H97<BC@C;MCDH=CBGCF
</8/A+,6//8/<1C=9?<-/=7+386C F1<E53819>C
,397+==+8.,C-98@/<>381A+>/<
%?--/==0?6 6/==98= -+8 +1+38 ,/
=96+<+8.A38./8/<1C&2/:+<>3-3
6/+<8/. 0<97 >2/ <//8 ?36.381=
:+8>= 38 >2/ -6?=>/< A9<5 >91/>2/<
6?=>/< 90 9A/< ?=><3+ A23-2
>9./@/69:>2/</=/+<-2380<+=><?-
-</+>/. =C8/<13/= ,/>A//8 69-+6
>?</38-6?.381>2//=>+,63=27/8>90
/8>/<:<3=/= $ 9<1+83=+>398=
79./<8 6+,9<+>9<3/= +8. ><+38381
+8. =5366/. -<+0>=7/8 &23= 6/. >9
./798=><+>398-/8></=
37:9<>+8> 3889@+>398= 38 >2/ </0?<
,3=27/8>9096.+8.8/A,?36.381=
7 =1. *;.* 8/ <><=*27*+5. +>25-
69A/8/<1C +8. :+==3@/ 29?=/
381= >2/</ 3= + =?--/==0?6 -6?=>/<
=>+8.+<.= +8. =?=>+38+,6/ /8/<1C
/B+7:6/ 0<97 ?=><3+ A23-2 2+=
>/-2896913/=+=A/66+=2/+6>2C+8.
+..7 ,8C7*7,.- +B =1. #
-9709<>+,6/63@381&2/:<94/->A+=
"5.*<. <.. 88- ";*,=2,. *<.
*#.028$=*;<*@*;-C7*52<=27



 %1. ;..7 >25-270 5><=.;


"5.*<. <.. 88- ";*,=2,. *<.
90 9A/< ?=><3+ 38@96@/= +,9?>


 7/7,/<= 38-6?.381 + 6+<1/
-977?83>C 90 % = >2+> 7+5/ ?:
"B @=B9 K=H< H<9 @5H9GH - F97CAA9B85

 90>2/=/7/7,/<=&2/</=>+</
H=CBG F9;=CBG5B87=H=9G5F99B7CIF5;98
,311/< -97:+83/= </=/+<-2 +8.
HC:I@@M9LD@C=HH<99L=GH=B;-5@@C75H=CBG
/.?-+>39838=>3>?>398=+8.+==9-3+
H<5H GIDDCFH 5 G<=:H HC 024( ()A&,(16
>398= A23-2 +</ +->3@/ 38 /8/<1C
=?45C?6DB1>C@?BD@95BIF65BDI6@=7
./C,2.7= *7- <><=*27*+5. +>25-270
HF5BGDCFH  A5L=A=G=B; H<9 IG9 C: 7@95B
</0?<,3=27/8> /8/<1C 7+8+1/
1>4 5>5B7I 56K395>D F5893<5C 1>4 1<C?
7/8>+8./8/<1C>/-2896913/=
>?> =?D?B9C54DB1>C@?BD1B5D85@B9?B9D95C
"H =G =ADCFH5BH HC A9BH=CB H<5H H<9F9 5F9
%1. ,2=B 8/ >7,1*5 "8;=>0*5
A5BM CDDCFHIB=H=9G :CF GIGH5=B56@9
37:6/7/8>/. + -97,38+>398 90
9B9F;M
F9@5H98=BBCJ5H=CB=BH<97CBGHFI7

3889@+>3@/ +->398= 98 =?=>+38+,6/


D9?>C53D?BD85=1>175=5>D?6?6K351>4
?<,+8 79,363>C >2<9?12 $ 
F9G=89BH=5@ 6I=@8=B;G  IF65B 5B8 FIF5@
7<92;*=287,*7*5<8+.-;*@7/;86
D@5BB=B;  HF5BGDCFH 5B8 H<9 A5BI:57

385G:38138%A/./8A23-238

HIF=B;5B8G9FJ=79G97HCFG
:398//</.+</=/+<-2./@/69:7/8>
+8. ./798=><+>398 383>3+>3@/ 98
)579?>C31>K>49>>?F1D9?>1>453?>?=93
DCH9BH=5@=B9=@B?F9>7D855>5B7I@5B6?B
/=>+,63=2381+,391+=,+=/.:?,63-
=1>35 ?6 2E9<49>7C I=@8=B;G 577CIBH
=;*7<98;=<B<=.627=1.,2=B88-
:CFC:9B9F;M7CBGIADH=CB A5?=B;
";*,=2,. *<.
 %12< 9;83.,=
H<=G 5 ?9M =BJ9GHA9BH 5F95 HC 57<=9J9
,/-+7/ /-98973-+66C @3+,6/ +8.
H<9 -    H5F;9HG  +I7< =BJ9GHA9BH
>2/8 3> =>+<>/. >9 /B:+8. %38-/
75B 7CBHF=6IH9 6M 9B<5B7=B; F9GCIF79
>2/</2+@/986C,//8,391+=
56K395>3I1>43B51D9>7<?31<:?2C1CG5<<
+><.< 27 =1. >;+*7 =;*7<98;= D..=
5G 6M 9GH56@=G<=B; 6IG=B9GG9G H<5H IG9
90 385G:381 ..3>398+66C 7+8C
H<9 B9F;M +9FJ=79 CAD5BM +(
:<3@+>/@/23-6/==A3>-2/.>9,391+=

AC89 ,<9G957H=J=H=9G75B69DFCACH98
*7- =1. @8;5-< C;<= +280*< =;*27
H<FCI;<ACF97CAD@9LDFC>97HG7CJ9F=B;
,/1+8 >9 9:/<+>/ 0<97 385G:381
HCKBG CF B9=;<6CIF<CC8 GMGH9AG 5B8
38?8/ 

??4'B13D9351C5 

&(%(*,!+-+,"'%.%()&',(",1

*

+AGD57:FFB

III 8AFAE=DK6;E >F


4;DEFA@3E

)*(#,

(+,

#&+ &%
#9D8E1>91 "1E>1C
,% %*&,)
,&%)+& >9D91
D9F5E>45B'

?>
:FF?
F @3EE :
F;DEFA
<755F
A<7
(DDAA<
,::77(
< 5F F 77GG

,
<75
7BBDAA<7
>;8
5A
I 7
II


+AGD57:FFBB

=FYYHC
HCB5G=GH
H<
<9GA5@@9GHAIB=7=D5@=HM=BH<9$5IB5GF9;=CBC:%=H<I5B=5K=H<CB@M  =B<56

=H=H5BHG  %==?9
?9 5@@ %=H<I5B=5B AIB=7=D5@=H=9G  =H =G :5798 K=H< F5D=8@M ;FCK=B; 9B9F;M DF=79G +85
62
6291 ,1,6,$6,8( 9$5 53(&,A&$//; '(8(/23(' 62 4('7&( 6+( (1(4*; &2157036,21 2)
2E
E9<
9<49>7C 2I9>DB?4E39>75>5B7I 56K395>3I=51CEB5C1>4EC9>7B5>5G12<55>5B7IC?EB35C
!D
=GD5FHC:H<9('*,(=B=H=5H=J9IB89F)
=G
,<9 =FYHCB5G DFC>97H 7CJ9FG 5B 5F95 C:  <97H5F9G  K<=7< <5G 5FCIB8   A C: @=J=B;
GD579=B7@I8=B;5D5FHA9BH6I=@8=B;G "H=BJC@J9G5@5F;9BIA69F
D
C: 89ACBGHF5H=CB 57H=J=H=9G  K<=7< 5F9 65G98 CB H<9 89A5B8
G=8
89  GI7< 5G G<CK75G=B; (
6I=@8=B;G 5B8 H<9 F5H=CB5@ IG9
C: 9B9F;M 5B8 5@GC CB H<9 DFC8I7H=CB G=89  @=?9 89ACBGHF5H=B;
J5
5F=CIG F9B9K56@9 9B9F;M H97<BC@C;=9G  ,<9 DFC>97H FIBG :FCA
  HC 5B8<5G5BCJ9F5@@6I8;9HC:ZA 
,
,<9A5=BF9GI@HGC:H<=GDFC>97H5F95@F958M9J=89BH5B8=B7@I89
BB54E354 5>5B7I 3?>CE=@D9?> D85 EC5 ?6 <?31< B5>5G12<5
(1(4*;5274&(5$1',1&4($5('(1(4*;*(1(4$6,21()A&,(1&;
!95H ;9B9F5H=CB :FCA 6=CA5GG <5G 577CIBH98 :CF 5DDFCL=

A5H9@M C:5@@9B9F;MB998G 5B8H<9F9GH<5G699B7CJ9F98


6MB5HIF5@;5G ,<9=BGH5@@5H=CBC:5B588=H=CB5@&9;5K5HHGC:
<95H;9B9F5H=CB75D57=HMH<5HK5G65G98CB6=C
:I9@ 9B56@98
H<9
9F98I7H=CBC:( 9A=GG=CBG5B89B7CIF5;98H<9IG9:CF:I9@
?6<?31<G??4G1CD56B?=6?B5CDC1>4C1G=9<<C
D1<1D5BCD1751LE571C3?>45>C1D9?>E>9D
?6
<?31< G??4 G1CD5 6B?= 6?B5C
K<=7< =G 5 GD97=5@ A9H<C8 C: <95H F97CJ9FM  K=@@ 69 =BGH5@@98 HC =ADFCJ9 9B9F;M ;9B9F5H=CB
56K395>3I
*?<1B3?<<53D?BC1>4851D@E=@CG9<<1<C?25@B?F94541>4D85C5C8?E<42512<5D?
GIDD@MH<99B9F;M:CF<95H=B;K5H9F

$1&++ 
"BJ9GHA9BH=BH97<BC@C;M89J9@CDA9BH5B889ACBGHF5H=CB57H=J=H=9G=G9GG9BH=5@HCDFCACH9
H<9HF5BG=H=CBHC5ACF9GIGH5=B56@99B9F;MGMGH9A
?B6EBD85B9>6?B=1D9?>@<51C5C55

8DD@ B579?>C  
5E 3=C 1CC5DC ,@<?14C )5C?EB35C  &&)

CC8)F57H=79
I=@8=B;G
=FGHCB5G
$5IB5G D8:

8DD@ GGG
53?<965 @B?:53D
5E +85(B?:53D9BCD?>1C
8D=<



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

&.+&+"+ &%
%+)+ %)*)
% %%&-+ &% %+&
*,*+ %#%)0 %
*$)+*' # *+ &%
*+)+ *
=J9B H<9 5A6=H=CIG 9B9F;M 5B8 75F6CB
F98I7H=CB H5F;9HG  7CID@98 K=H< H<9
C97>9K31>D K>1>391< 1<<?31D9?> ?6 D85
7C<9G=CB 5B8 GHFI7HIF5@ :IB8G  F9;=CBG
G<CI@87CBG=89FH<9=BH9;F5H=CBC:9B9F;M
5GD97HG=BHCH<9=F*"+D@5BG 

 :FFB

75 7GDAB3 7G

7@7D9K
F75:@A>A9K
E7F2B>3@

6A5
EF77D;@929DAGB
E7F2
B>3@2?7?47DE2 2 2
B68

/<9B =B=H=5H=B; 57H=J=H=9G :C7IG98 CB


GIGH5=B56@9 9B9F;M  =H =G =ADCFH5BH H<5H
$1>179>7 ED8?B9D95C 3??@5B1D5 G9D8
D859B >1D9?>1< B5@B5C5>D1D9F5C 9> D85
*+'<1> *D55B9>7 B?E@  ,<=G K=@@
<9@DHC?99DH<9AID
HC
85H9K=H<89J9@

CDA9BHG5HIFCD95B5B8B5H=CB5@@9J9@G
1>4 =?B5 9=@?BD1>D<I D? K>4 3?=@<5

A9BH5F=H=9G5B8GMB9F;=9GK=H<CH<9F=B=H=

1D9F5C1>43? K>1>39>7?@@?BDE>9D95C

%#0* *&+) &%#


&%+/+% +*'&+%+ #&)
)*)% %%&-+ &% %
*,*+ %#%)0
"BBCJ5H=CB GHF5H9;=9G 5B8 DFC;F5AA9G
H5F;9H=B; GIGH5=B56@9 9B9F;M B998 HC
GH5FHK=H<54GH5H9
C:
D@5M5GG9GGA9BH=B
CF89F HC :C7IG 57H=CBG 5B8 =BJ9GHA9BHG
CB5F95G K<=7<<5J9H<9ACGHDFCA=G=B;
DCH9BH=5@ ,<=GK=@@F9EI=F95B5GG9GGA9BH
C: H<9 @C75@ =BBCJ5H=CB 75D57=H=9G 5B8
H97<B=75@DCH9BH=5@:CFGIGH5=B56@99B9F;M
H97<BC@C;=9G  5G K9@@ 5G 5B 5B5@MG=G C:
65FF=9FG5B88F=J9FG

)&$$%+ &%
$1;5D8525CDEC5?6D85<1D5CD9>>?F1D9F5D??<C
1>4D538>?<?795CCE381C +9>1CC5CC9>7D85
@?D5>D91<6?BCECD19>12<55>5B7I

 > 1CC5CC=5>D ?6 9>>?F1D9?>


31@139D95CIB89FD=BG5BM>I8;9A9BH
CB H<9 HMD9 C: GIGH5=B56@9 9B9F;M
F9G95F7< 5B8 =BBCJ5H=CB 57H=J=H=9G
H<5HG<CI@869=B7@I898IB89F*"+ "H
=BJC@J9G5B5B5@MG=GC:F9@9J5BH*
9LD9FH=G9 H<95J5=@56=@=HMC:F9G95F7<
?B71>9C1D9?>C G9D8 1 CE9D12<5 @B?K<5
5B8 5@GC 5 G7F99B=B; C: 7CAD5

B=9G  +&G 5B8 CF;5B=G5H=CBG H<5H


5F9 75D56@9 C: DIFGI=B; =BBCJ5H=J9
=B=H=5H=J9G  ,<9G9 =B=H=5H=J9G 7CI@8
7CJ9F=ADFCJ=B;9B9F;MD9F:CFA5B79
=B 7CAD5B=9G  HF5BGDCFH 5B8 H<9
6I=@8=B;G97HCF K<=7<5F9BCHB979G

G5F=@M65G98CB*=BH9BG=J957H=J=

H=9G
 >1CC5CC=5>D?6B5>5G12<55>5B7I
@?D5>D91< K=@@ :C7IG CB H<9 DCH9BH=5@
H<5H=G9LD@C=H56@9:FCAH<997CBCA=7 
H97<BC@C;=75@  GC7=5@ 5B8 9BJ=FCB

A9BH5@ DC=BHG C: J=9K  ,<=G DCH9B

H=5@ @5F;9@M 89D9B8G CB H<9 F9;=CBG


B5HIF5@ 9B8CKA9BHG 5B8 ;9C;F5D<

=75@ @C75H=CB  (:H9B  F9B9K56@9


9B9F;M 5GG9GGA9BH GHI8=9G <5J9
5@F958M 699B IB89FH5?9B 5B8 5F9
5J5=@56@9 :FCA B5H=CB5@ CF F9;=CB5@
9B9F;M CF 9BJ=FCBA9BH5@ A=B=GHF=9G
CF :FCA @C75@ F9G95F7< =BGH=HIH9G 
!CK9J9F AC89FBA9H<C8G65G98CB
", 9B56@9 5 ACF9 DF97=G9 5GG9GG

A9BH 5B8 69HH9F


=B:CFA98 5B8 ACF9
GIGH5=B56@9 D@5BB=B; H<5H =B7@I89G
5 7CBG=89F5H=CB C: B5HIF5@ <9F=H5;9 
B5HIF5@ <5N5F8 NCB9G 5B8 5779GG=

29<9DI
%1. $+*<.- 95*77270 =885 /8;
</8/A+,6//8/<1C?=/.38>2/-<9==
;.0287*5 $!# 9;83.,= .7*+5.<
=1. ./C,2.7= *,:>2<2=287 -.?.589
7/8> +8. =2+<381 90 1/91<+:23-+6
+8. =9-39/-98973- .+>+ +,9?>
>23==3816//-9</1398>2+>=:</+.=
*,;8<<=1;..,8>7=;2.<27=1.&99.;
#127. "5.*<. <.. 88- ";*,=2,.
*<.

??4'B13D9351C5 

, $,!
'&*1$-+,*
 *'%,*',".(*'(*,!*')(%'

*

)*(#,

(+,

+AGD57:FFB

;?B 963 B>

#&+ &%
'?<1>4 '?=?BC;95
$1'#$40,>5.2
$1JEBC;95
,% %*&,)
)579?>1<E>49>7
)'B9F1D5 >F5CD
=5>D

,<9 5@H=7 7C


B9F;M @IGH9F  K5G 9GH56@=G<98 =B   HC 25DD5B EC5 D85 <1B75CD
B5C?EB35?6CECD19>12<55>5B7I9>'?<1>41>45H@<?9DD85B579?>1<C395>351>4D538>?<?7I
@?D5>D91< 9C;F5D<=75@@M G57H=J=H=9G7CJ9FH<95F95C:'CFH<9FB)C@5B8:FCA$CGN5@=B
D8B?E78(?=?BC;95-?9F?45C89@D?D8551CD5B>3?>K>5C?6.1B=9>C;? %1JEBC;95-?9F?45C89@

"H 5GGC7=5H9G 5@ACGH   D5FHB9FG :FCA 57589A=5 5B8 @C75@ ;CJ9FBA9BH 6C8=9G  5G K9@@ 5G
6IG=B9GG9GH<5H5F965G98=BH<9G958A=B=GHF5H=J9DFCJ=B79G 
,<9A5=BA=GG=CBC:H<9=GHC=BHFC8I795B8DFCACH949CDB92ED543?75>5B1D9?> ,<=G=G
H<9G=AI@H5B9CIGGA5@@5B8A98=IAG75@9DFC8I7H=CBC:H<9FA5@9B9F;M5B89@97HF=7=HM:FCA
F9B9K56@99B9F;MGCIF79GGI7<5G6=CA5GG5B85@GC:FCA7CBJ9FH=B;K5H9F GC@5F5B8K=B8
9B9F;M ,<97@IGH9FD5FH=7=D5BHG>C=BH@M=AD@9A9BHH<9DFC>97HGH<5H=BJC@J9H<99GH56@=G<=B;C:
B9K5;FC
9B9F;M7CAD@9L9G K<=7<5F9GA5@@5B8A98=IA
G75@97C
;9B9F5H=CBDCK9FD@5BHG
=BH<9A57FC
F9;=CB ,<9MKCF?HC;9H<9FHC89J9@CDH<9F9G95F7<=B:F5GHFI7HIF9 =B7@I8=B;H<9
DFCJ=G=CB C: AC89FB @56CF5HCF=9G  HF5=B=B; 5B8 89ACBGHF5H=CB 79BHF9G  ,<9 G 57H=J=H=9G
5F9GIDDCFH986M-GHFI7HIF5@:IB8G ,<97@IGH9F5@GC7CCF8=B5H9GH<97C@@56CF5H=CBK=H<CH<9F
5@H=77CIBHF=9GCBGIGH5=B56@99B9F;MF9G95F7<5B889J9@CDA9BH
,<9 A5=B 9::97HG C: H<9 7@IGH9FG 57H=J=H=9G <5J9 699B 5 5,*1,A&$16 ,1&4($5( ,1 6+( 75( 2)
B5>5G12<5 5>5B7I C?EB35C =B BCFH<9FB )C@5B8  H<9 89J9@CDA9BH C: 29?=1CC B53I3<9>7
D538>?<?7I6B?=3?==E>1<5B89>4ECDB91<G1CD51>4D85B54E3D9?>?629?<?7931<@?<<E
D9?> =B FIF5@ 5F95G  9G=89G 89J9@CD=B; B9K H97<BC@C;=9G  H<9  =G 5@GC =ADFCJ=B; H<9
7CAD9H=H=J9B9GGC:H<99BH9FDF=G9G=BBCFH<9FB)C@5B8

$1&++ 
@IGH9F89J9@CDA9BH:C7IG98CBGIGH5=B56@99B9F;M75B<9@D5IH<CF=H=9GHCA99HH<99B9F;M
B998GC:H<9=FF9G=89BHG=B5B9BJ=FCBA9BH5@@M:F=9B8@MK5M "H75B5@GC:CGH9FF9G95F7<57H=J=

H=9G =ADFCJ9H<97CAD9H=H=J9B9GGC:F9;=CB5@9BH9FDF=G9G5B8=B7F95G99AD@CMA9BH5B8H5L
=B7CA9G
?B6EBD85B9>6?B=1D9?>@<51C5C55

8DD@ GGG
9=@
741
@< 5> 2553 

8DD@ GGG
9=@
741
@< K<514=9> 4?3 @B?:53DC 2;55 4?3 ?<45B# 5>
@46

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

1$55(550(162)(1(4*;()A&,(1&;
1>4 5>5B7I C1F9>7C @?D5>D91<
9D9B8=B; CB H<9 :C7IG C: H<9
5>5B7I 56K395>3I 13D9F9D95C CE38 1C
DI6@=7 6I=@8=B;G  <CIG=B;  =B8IGHF=5@
DFC79GG9G CF +&G  H<9 5GG9GG

A9BH DFC79GG K=@@ 69 65G98 CB


8=::9F9BHH97<B=EI9G5B885H57C@@97

H=CB A9H<C8G  ,<9G9 75B 69 9B9F;M


7CBGIADH=CB GH5H=GH=7G CF 898=75H98
GIFJ9MG 6IH =H =G IG9:I@ HC ?BCK H<9
GH5H9
C:
H<9
5FH H97<B=EI9G H<5H 5F9
7IFF9BH@M5J5=@56@95B875BA5?9H<9
=?CD@B539C51CC5CC=5>DC
 III 7@7D9K5;FK  7G

 :FFB

E7F;E 75 7GDAB3 7G

34AGFE7F;E
F75:@A>A9K?3B

&2/ $ -90?8./. :<94/->


*8/<1C3>C =?::9<>/.>2/-966/-
>398 90 +8 /B>/8=3@/ =/> 90 .313>+6
.+>+ 38 =/@/8 -3>3/= @3+ +/<3+6 +8.
1<9?8. =?<@/C= %/6/->/. ?<,+8
*;.*< *;. 8?.; D8@7 =8 ,855.,=
>2/<7+6 37+1/= ?=381 -+7/<+=
79?8>/. 98 +8 +3<-<+0> &2/=/
37+1/= =29A 2/+> /8/<1C 69==/=

0<97 ,?36.381= 1<9?8. 0/+>?</=


+8. /@/8 9,4/->= ,/69A >2/
1<9?8.&23=.+>+/8+,6/=+7?-2
79</ :</-3=/ :6+88381 90 /8/<1C
./C,2.7,B6.*<>;.<
 3?=@B585>C9F5 1>1<IC9C ?6 D85
21BB95BC D? 1>4 4B9F5BC ?6  *," =B
GIGH5=B56@99B9F;M 57<F9;=CB<5G
=HGCKBG9HC:7CB8=H=CBG5B8:57HCFG
H<5H75B8F=J9CF<=B89F=B=H=5H=J9G5B8
DFC>97HGH<5H5=AHCDFCACH9F9G95F7<
5B8=BBCJ5H=CBG=BGIGH5=B56@99B9F;M 
+=A=@5F@M  957< HMD9 C: H97<BC@C;M
5H@5B95>35C1C@539K3C5D?621BB95BC
5B8 F9GDCB8G HC D5FH=7I@5F 8F=J=B;
:57HCFG "B75FFM=B;CIHH<=G5B5@MG=G
5IH<CF=H=9G 5B8 H<9 DFC>97H D@5BB9F
31>25>5KD6B?=D857E941>35?665B54
=B H<9 +,
)@5B ,97<BC@C;M &5D 
K<=7<DFCJ=89G589H5=@985B5@MG=GC:
H<965FF=9FG:57986M957<C:H<9 
9B9F;MH97<BC@C;=9G

 ,) )) )*+&%) -)*&*,*+ %#%)0-#&'$%+

"B H<9 DFCACH=CB C: GIGH5=B56@9 9B9F;M =BBCJ5H=CBG  &5B5;=B; IH<CF=H=9G 5B8
DFC>97H=B=H=5HCFGB998HC69F958MHC588F9GG5@@65FF=9FGHC 5B88F=J9FGC: GIGH5=B

12<55>5B7I
+85C531>253<1CC9K541C6?<<?GC

 :FFB

III D7D;E= 7G

+538>?<?7931< 1>4 ;>?G<5475 31@9D1< CF =B CH<9F KCF8G G?=@@98 D9CD@9 
GD97=5@=GHG5B89B;=B99FG5B8=BBCJ5H=J97CAD5B=9G ,<=G=G57FI7=5@:57HCF
=B 6I=@8=B; 5 B9K ;F99B 9B9F;M GMGH9A 5B8 =B DFCACH=B; =BBCJ5H=CB 5B
B8
89J9@CDA9BH =B 57HI5@ DFC>97HG  G =B 5BM CH<9F G97HCF  H<9 89J9@CDA9B
BH C:
B9K H97<BC@C;=9G :CF 9B9F;M =G H<9 F9GI@H C: H<9 577IAI@5H=CB C: ?BCK@
K@98;9
;9
5B89LD9F=9B79 5GK9@@5GH<97F95H=J=HMC:=BGH=HIH=CBG5B8H<9DCDI
DI@@5H=CB
CB=B
;9B9F5@ F5;A9BH5H=CBC:9L=GH=B;?BCK@98;9F98I79GDFC;F9GG=B
BH<9G
H G97HCF 
!>1449D9?>D8556K395>DDB1>C65B1>414?@D9?>?6D538>?<?7I9C?
?><I@?
@?CC92<596
H<9F97=D=9BH<5GH<9B979GG5FM9LD9FH=G9 )@95G9G995@GCH<9
<9GHI
I8=9GC:H<9
*9*=G?DFC>97HG8938@B?F54D81DD85141@D9F531@139DI?6
?6B57
79?
9?>C9C3895LI
89D9B89BHCB=BBCJ5H=CBD9F:CFA5B79
%1DEB1<B5C?EB355>4?G=5>D=B7@I8=B;H<9GIB 6=CA
CA5GG
G <M8FC A5F=B95B8
8
@5B8F9GCIF79G5B8@C75@K95H<9F5B8;9C;F5D<=77C
CB8=HH=C
=CBG75BDFCJ=895JJ9FM
;CC86F998=B;;FCIB8:CF79FH5=BHMD9GC:9B9F;
;MH97
7<BC@C;=9GCFGCA9H
9H==A9G
5F5>@B5F5>DD8553?>?=9356K395>3I?6?D85B
5BC

?E>DB95CG9D812E>41
41>DCE>
75BGI779GG:I@@M75D=H5@=G9CBGC@5F9B9F;M
MGC@I
IH=H=CBG K<=@9G<=:H=B;5
5K5M:FCA
75F6CB
65G98 9B9F;M GMGH9AG  "B H<9 75
75G9 C: 6=CA5GG 9B9F;MM  K5H9F 5J5=@

56=@=HM=G5B=ADCFH5BH=GGI9HC7CBG=89
9F 5G=H=HA=;<H<5J95@5F;
;9=AD57HCBH<9
5J5=@56=@=HMC:6=CA5GG 








(*,!$-!'**%&!&-, '*!,!+

3?>?=9345D5B=9>1>DC 31>9>3<E45
CGH7CAD9H=H=J9B9GGK=H<:CGG=@:I9@G
CGHC:=AD@9A9BH=B;9B9F;MDFC>97HG K<=7<75BGH=@@69<=;<:CF;9CH<9FA5@
9B9F;M :I9@79@@5B8<M8FC;9B9B9F;M5B8A5F=B99B9F;M
)F=79G:CFF5KA5H9F=5@GGI7<5GGH99@ 7CB7F9H9 7CDD9F DF97=CIG5B8F5F9
95FH<A9H5@G
)F=79G:CF7CADCB9BHG@=?9HIF6=B9G
F=87CBB97H=CB7CGHG5B8;F=8HF5BGA=GG=CB75D56=@=HM 9GD97=5@@M:CFF9B9K

56@99@97HF=7=HMDFC>97HG
-5BID978D3?>49D9?>C6?BK>1>39>71C1B5CE<D?6D853EBB5>D53?>?=933B9C9C

+538>?<?7931<613D?BC6139>7=1>I5>5B7ID538>?<?795CF1BI
?B5H1=@<5
,<9B998:CF;F=8=B:F5GHFI7HIF95B87CBB97H=CBG=BH<95F95C:F9B9K56@99B9F;M
%CK7CBJ9FG=CB7CA6IGH=CBH97<BC@C;=9G=B6=CA5GG
65G989B9F;M
!M8FC;9B5B8:I9@79@@H97<BC@C;=9GGH=@@H57?@9H<97<5@@9B;9GC:D9F:CFA5B79
5B88IF56=@=HMC::I9@79@@G
+85 56K395>3I ?6 <1B75 F?<E=5 31B2?> 6B55 8I4B?75> @B?4E3D9?> 1>4 CD?B175
G5:9HMC:75DHIF98(
,<99B9F;M89BG=HMC:CB6C5F8<M8FC;9BGHCF5;95B8GMGH9AG=BH9;F5H=CB
(:H9B9B9F;MH97<BC@C;=9G9LD9F=9B7914=9>9CDB1D9F521BB95BC ,<9G9=B7@I89
@9B;H<M DFC798IF9G  HCC A5BM 5IH<CF=H=9G 69=B; =BJC@J98  =B9LD9F=9B798 7=J=@
G9FJ5BHG H<9BCB
<CAC;9BCIG5DD@=75H=CBC:F9;I@5H=CBG5B8IB7@95F58A=B=G

HF5H=J9:F5A9KCF?G
'?<93I1>4B57E<1D?BI5>F9B?>=5>DC75B696CH<58F=J9FC: 5B8565FF=9F
HC H<989J9@CDA9BH5B88=GG9A=B5H=CBC:@CK75F6CBGC@IH=CBG CF9L5AD@9 
H<9=AD@9A9BH5H=CBC::998
=BH5F=::G:CFF9B9K56@99B9F;M75B9BGIF9H<9K=89F
8=::IG=CBC:GA5@@;F99B9B9F;M=BGH5@@5H=CBGH<5H<5J95F98I7989BJ=FCBA9BH5@
=AD57H=B7CAD5F=GCBHC@5F;9DCK9FGH5H=CBG (BH<9CH<9F<5B8 H<97CBH=BI98
GI6G=8=G=B;C::CGG=@:I9@
65G989B9F;MK95?9BGH<97CAD9H=H=J9B9GGC:F9B9K

56@99B9F;M=B8IGHF=9G 88=H=CB5@@M H<9GH56=@=HM5B87CBG=GH9B7MC:H<9=BGH=HI

H=CB5@9BJ=FCBA9BH9BGIF9G7@95F9FA5F?9HG=;B5@G@=?97CBH=BICIG:998
=B
H5F==::
::GG 
CD12<5 D1H 25>5KDC 1>4 9>F5CD=5>D
  ?B >5G ?B 49CBE@D9F5 D538>?<?79
795
5C <9;5
<M8FC;9B H<9=BGH=HIH=CB5@<IF8@9G5F95@57?C:DC@=7M5B8F9;I@5HCFFMGIDDCFFH=B
=B
ACJ=B;:FCA89ACBGHF5H=CBHC@5F;9
G75@989D@CMA9BH 
E<DEB1<613D?BC5F95GGC7=5H98K=H<7CBGIA9F7<C=79 6
69<5J=CIFF5B8D9F79D

5
H=CBC: 5B8898=75H=CBGHC GIGH5=B56@9DF57H=79G "B
BA5BMD5
A
D5FH
FHGC:IFCD9H<=G
=G 697CA=B; 5 8F=J9F :CF ;F99B 9B9F;M GC@IH=CB
CBGG  5G 6C
CH<
H< DI6@=7 5B8 DF=J5H9
7CBGIA9FG5F9ACF95B8ACF9=B7@=B98HC
C;
;C:CF;
;F9
F99B9B9F;MGIDD@=9FGH<5H
9>F5CD 9> 5>5B7I 56K395>3I =51CEB5C
 &5F5BD85<
5<5
5CC D85B5 9C CD9<< C?=5 B5C9CD

5B79HC 5B8@57?C:GC7=5@5779DH
DH5
5B79C: GGCA9H97<BC@C;=9G@=?9K=B8:5FAG
5B8 ;9CH<9FA5@  ,<IG  H<9F9 =G
=G 7CBG=89
89F56@9 FCCA :CF 57H=J=H=9G H<5H DFCAC
ACH9
5K5F9B9GG5ACB;GH7CBGGIA9FG5B
B87<5B;9G=BH<9=F69<5J=CIF

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

%*,) %+')+  '+ &%&


*+"&#)*
"B=H=5H=J9G DFCACH=B; GIGH5=B56@9 9B9F;M
=B:F5GHFI7HIF9 5B8 DF57H=75@ A95GIF9G
=B 5 D5FH=7I@5F 7CAAIB=HM CF 8=GHF=7H K=@@
F9EI=F95GHFCB;7C@@56CF5H=CBB9HKCF?K=H<
5 F5B;9 C: D5FHB9FG  ,<9G9 75B =B7@I89
@C75@5IH<CF=H=9G @C75@9B9F;M5B8=BBCJ5

H=CB 5;9B7=9G  ' (G 5B8 5GGC7=5H=CBG 


<CIG=B;7CFDCF5H=CBG H97<BC@C;M89J9@

CD9FG5B8DFCJ=89FG IF65BD@5BB9FG5B8
5F7<=H97HIF5@GD97=5@=GHG 

)&$$%+ &%
>F?<F51G945B1>75?613D?BC53?>?=93
,1128$6,2137%/,&126)24342A624*$1,5$6,215
9>9>DB?4E39>7CECD19>12<55>5B7I9>D?D85) * 
1>49>9DC9=@<5=5>D1D9?>
'5H=CB5@  F9;=CB5@ 5B8 @C75@ 5IH<CF=H=9G
D@5M5?9MFC@9=BGIGH5=B56@99B9F;M=B=H=5

H=J9G =AD@9A9BH98 IB89F H<9 7C<9G=CB


@?<93ICE@@?BD
+85I1B535>DB1<9>45K>9>7
H<99B9F;MDF=CF=H=9G5B8=BH9;F5H=B;H<9A
=BHC H<9 *"+  5G K9@@ 5G =B :57=@=H5H=B;
H<9 8=5@C;I9 K=H<  5B8 69HK99B  =BJ9G

HCFG  6IG=B9GG9G  F9G95F7< CF;5B=G5H=CBG 


7CBGIA9FG5B87=J=@GC7=9HMCF;5B=G5H=CBG 

 :FFB

75 7GDAB3

7G
D79;A@3>2BA>;5K

5A@87D7@57E
A6
6A5

5A??G@;FK27@ B68



#?31< 1>4 >1D9?>1< 9>>?F1D9?> 1>4


5>5B7I175>395C1B5C?=5?6D85=?CD
9=@?BD1>D CD1;58?<45BC =B F9;=CB5@
89J9@CDA9BH=B=H=5H=J9G ,<9M<5J95J9FM
7@95FJ=9KC:H<9@C75@B998G5B8DCH9B

H=5@F9@5H98HCF9GCIF799B8CKA9BH 9BHF9

DF9B9IFG<=D  =BBCJ5H=CB 5B8 =BJ9GHA9BH 


,<9M 5@GC <5J9 5 ;CC8 D9FGD97H=J9 CB
H<9F9;=CB5@ B5H=CB5@5B8-G97CBCA=7
5B8 9BJ=FCBA9BH5@ ;C5@G  ,<9=F =BJC@J9

A9BH=G9GG9BH=5@=B5GG9GG=B;H<9DCH9B

H=5@ =BH9;F5H=CB C: 5 GIGH5=B56@9 9B9F;M


DF=CF=HM=BHCH<9*"+5B8H<9MD@5M=ADCF

H5BH FC@9G =B H<9 89J9@CDA9BH  A5B5;9

A9BH 5B8 ACB=HCF=B; 5B8 9J5@I5H=CB C:


3?>3B5D5 13D9?>C 1>4 @B?:53DC
  6K395>D
9L7<5B;9 5B8 7CCD9F5H=CB G<CI@8 69
9GH56@=G<98 69HK99B =BBCJ5H=CB 5B8
9B9F;M5;9B7=9G5G=H7CI@8@958HC:FI=H:I@
GMB9F;=9G=BA99H=B;B5H=CB5@CFF9;=CB5@
9B9F;M5B8=BBCJ5H=CBC6>97H=J9G

G=A=@5FFC@975B69D@5M986MF9G95F7<
=BGH=HIH=CBG5B8IB=J9FG=H=9G5B8HC;9H<9F
K=H< 6IG=B9GG9G  K<=7< 75B 5@GC DIFGI9
*  H<9M 75B DFC8I79 GH5H9
C:
H<9
5FH
C?<ED9?>C D81D 1B5 C@539K31<<I D19<?B54 D?
@C75@B998G5B8DCGG=6=@=H=9G 
BGIF=B; H<9 =BJC@J9A9BH C: H<9 F9@9J5BH
97CBCA=757HCFG@=?96IG=B9GG9G A5BI:57

HIF9FG +&G H97<BC@C;MDFCJ=89FG 9B9F;M


DFC8I79FG HF5BGDCFH7CAD5B=9G5B8+(G
=GJ9FM=ADCFH5BH=BA5BMGH5;9GC:*"+ 
 ;5I 5>12<9>7 613D?B 6?B D85 45F5<?@
=5>D?6CECD19>12<55>5B7I9>D85,G9<<
%(&,6,<(15?3$46,&,3$6,2155B8H<9FC@9C:
>?> @B?KD ?B71>9C1D9?>C <9;5 &'C 1>4
7CBGIA9F 5GGC7=5H=CBG  +HF9B;H<9B=B;
7CAAIB=HM
65G98 F9B9K56@9 9B9F;M =G
CB9:CFAC:=E38>55454C?391<9>>?F1
D9?> "BA5BMD5FHGC:IFCD9 H<96CCA=B;
G97HCFC:8979BHF5@=G98F9B9K56@99B9F;M
DFC8I7H=CB=G@5F;9@M=BH<9<5B8GC:@C75@
5GGC7=5H=CBG H<5H 6IM G<5F9G =B F9B9K

56@9 9B9F;M DFC8I7H=CB G=H9G  ' (G


5B8 7CBGIA9FG 5GGC7=5H=CBG <5J9 J5GH
B9HKCF?=B; DCH9BH=5@  9LD9FH=G9  ?BCK@

98;95B8=BH9F9GH 6CH<=BH<9GIGH5=B56@9
5>5B7IK5<41>49>@B?:53D1>4@B?7B1==5
:57=@=H5H=CB ,<IG H<9M5F9K9@7CA9GH5?9

<C@89FG =B H<9 DFC;F5AA9G 5B8 DFC>97HG


GIDDCFH98 IB89F H<9 F9;=CB5@ DC@=7M  "B
H<=GF9GD97HH<9DFCDCG5@=BH<9 
  
7C<9G=CBDC@=7MCBCAAIB=HM%98%C75@
9J9@CDA9BH %% F9DF9G9BHG 5 F95@
CDDCFHIB=HM HC GIDDCFH 6CHHCA
ID GC7=5@
=BBCJ5H=CB:CFGIGH5=B56@99B9F;M
9D9B8=B;CBH<9HMD9C:DFC;F5AA9 H<9
7CA6=B5H=CBC:GH5?9<C@89FGHC69=BJC@J98
=BH<9DFC>97HCF=B=H=5H=J975BJ5FMGI6GH5B

H=5@@M CF9L5AD@9 =BDFC>97HGH<5HGIDDCFH


* 5B8 H<9 7CAA9F7=5@=G5H=CB C: B9K
9B9F;M GC@IH=CBG  5 D5FHB9FG<=D G<CI@8
69 :CGH9F98 69HK99B F9G95F7< =BGH=HIH9G 
6IG=B9GG 7CAD5B=9G  =BBCJ5H=CB GIDDCFH
175>395C1>496>535CC1BIK>1>391<13D?BC

@@ =B 5@@  K<9F9 5 CECD19>12<5 5>5B7I
@B9?B9DI9C9>3<E4549>D85) * 1G945B
9>F?<F5=5>D?6=1>IDI@5C?613D?BC31>
5>12<51=?B556653D9F545<9F5BI

(*,!$-!'**%&!&-, '*!,!+
 ,) '&+%+ #*+"&#)* %+*,*+ %#%)0')&!+*




  


 %'!" %!'$! !$&$% #! %*!& %*


 !# '!' % %"#!#'!" % " %%!
$&# #&%!#*"!*%    $&""!#%
%% %!&(% %(  '$%!#$&$ $$$#$#!# $%! $
! $&#$ '$!%*!# $%! $
&%  (# $$#$ ! $%%"!"&%!  "#!!% $!
#$$%* !%*

!'%! $ 






 
 

*  %'#! %   %'!" %" %%!  ! %!# !
%! $ %%'$
!!"#% (%&%!#%$ '!" '$! $!##  %#! %*!& %*
#!!% $"#&%! $"!$ $! $
#!' % '$!#* )"#%$&""!#%%! !'%!#$  &$%#*  $


    
 

 

  

!!"#% (%&%!#%$ " % !


'$! !$&$% #! %*!& %*

!'%!  %%'$! %#&% %!'!" 

*  %'#! %'!" %" %%!  ! %!# !%! $ %%'$

'!"   '$%   ($&$% &$ $$$"#!&%$ $#'$$! 


$&$%  #*$!&%! $
!!"#% (%#$#!# $%! $ '!" $&$%  #*$!&%! $
#!' %    $&""!#%


 


 

)"# % (% '!" $&$%  #*$!&%! $&$%%!!! %! $ 


$ !!"#% (% &$%#$ %$%'%$
!!"#% (%&%!#%$ '!" '$! !#%#  !%#! %*!& %*
*  %'#! !#%% %'!" %" %%!  ! %!# !% %%'
$ (# $$*$!( %#' !$ %#$&%$


 



#!'   #$!&#$' !'%' !#%#%$$(%"## %! %! $


! %#&% %!%'!" %!'$! !##  %#! %*!& %*


  4
 
 


!!"#% (%&%!#%$ %'!" %!'$! !##  %#! %*!& %*


&""!#% "  " %%!  ! %!# 
&%  #$ (# $$! $%%"!"&%! "#!!% $&$% '!&# 
 #*! $&"%! %#!& $&%! $%* !%*
#!!%  !* !#$"#&%! $ "!*$! $



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

'&# 0$*,)*%+ &%*


:H9F57CADF9<9BG=J98=5;BCG=GC:DCH9B

H=5@  65FF=9FG 5B8 8F=J9FG  H<9 5IH<CF=H=9G


5B8@C75@DFC>97HD@5BB9FGB998HC:C7IG
CBH<989J9@CDA9BHC:5DDFCDF=5H957H=J=

H=9G DFC>97HGCFGIDDCFHDFC;F5AA9G 
IF=B; H<9 7IFF9BH 5B8 B9LH :IB8=B;
D9F=C8G  5@@ F9;=CBG  577CF8=B; HC H<9
CAA=GG=CBG DFCDCG5@  K=@@ <5J9 HC
9>F5CD 1 C97>9K31>D 1=?E>D ?6 )
:IB8=B; =B GIGH5=B56@9 9B9F;M  =B7@I8=B;
B5>5G12<55>5B7I5>5B7I56K395>3I1>4
GA5FH ;F=8G  !CK9J9F  BCH 5@@ F9;=CBG
81F5 D85 @?D5>D91< D? C@539K31<<I 9>F5CD
*:IB8=B;=BF9G95F7< H97<BC@C;=75@
89J9@CDA9BH5B8=BBCJ5H=CB:CFGIGH5=B

56@9 9B9F;M H<FCI;< H<9 *"+ DFC79GG 


'9J9FH<9@9GG  5138 $5=25B *D1D5 1>4
B579?> C8?E<4 19= D? 31@9D1<9C5 ?>
D85 6E>49>7 ?@@?BDE>9D95C 9> 1 C=1BD
G1I 1>4 9>F5CD 9> 14F1>39>7 9DC <?31<
B5C51B38 45F5<?@=5>D 9>>?F1D9?>
1>4 D538>?<?7931< 31@129<9D95C ,<9
=BJ9GHA9BH 897=G=CB G<CI@8 69 A589 =B
5@CB;
H9FAD9FGD97H=J95B8G<CI@85@GC
7CBHF=6IH9 HC 57<=9J=B; H<9 J=G=CB C: 5
GA5FH5B8GIGH5=B56@9F9;=CBCF7CIBHFM 
/=H<H<=G=BA=B8 H<9B5H=CB5@5B8F9;=CB5@
1ED8?B9D95CC8?E<4CD1BD2I
 ?>4E3D9>7 1 @?<93I C3B55>9>7
5H5B39C5 HC 5GG9GG H<9 9LH9BH HC
K<=7<H<9DC@=7M:F5A9KCF?GIDDCFHG
H<9 89J9@CDA9BH C: F9G95F7< 5B8
9>>?F1D9?> 9> D85 K5<4 ?6 CECD19>12<5
9B9F;M  ,<9 5IH<CF=H=9G 5@GC B998 HC
945>D96I
 /<5HGIDDCFHA95GIF9G5F95@F958M
=BD@579H<5H588F9GG=BBCJ5H=CB5B8H<9
8=GG9A=B5H=CB C: GIGH5=B56@9 9B9F;M
DF57H=79G5B8H97<BC@C;=9G

)&$$%+ &%
>DB?4E35$1()A&,(1632/,&;0,:2)5733/;$1'
45=1>4=51CEB5CD?CD9=E<1D5B5C51B381>4
9>>?F1D9?>9>CECD19>12<55>5B7I1>45>CEB5
)$8274$%/()4$0(924.&21',6,215$1'()A&,(16
7?F5B>1>35


 /<9H<9F H<9G9 5F9 9::97H=J9 =B


H9FAGC:H<957H=J=H=9GG9@97H985B8
 /<9H<9F GIGH5=B56@9 9B9F;M
89J9@CDA9BH 5B8 F9G95F7< 5F9
<=B89F986M5@57?C:DC@=7MGIDDCFH
 >DB?4E39>7 >5G ?B 14:ECD9>7
5H9CD9>7 @?<93I CE@@?BD 9>CDBE
=5>DCH<5HK=@@5GG=GH=BH<96I=@8=B;
C: 5 GIGH5=B56@9 9B9F;M GMGH9A =B
H<97CIBHFMCFF9;=CB ,C85MGDC@=7M
9LD9F=9B79 C::9FG 5 K=89 F5B;9 C:
DC@=7M =BGHFIA9BHG =B7@I8=B; H<CG9
CIH@=B9869@CK
 *E@@<I C945 =51CEB5C GI7<
5G * GI6G=8=9G  58J=GCFM  HF5=B=B;
5B8 =B:CFA5H=CB GIDDCFH  75B 69
<9@D:I@ =B DFCACH=B; GH5H9
C:
H<9
5FH
F9G95F7< 5B8 9LD9F=A9BH5H=CB K=H<
B9K 9B9F;M ;9B9F5H=CB DFC79GG9G
5B8 H97<BC@C;=9G 5B8 B9K 9B9F;M
56K395>D =1D5B91<C
 E>49>7 31> 1<C?
GIDDCFHH<9DFCACH=CBC:B9HKCF?=B;
5B8 7C@@56CF5H=J9 F9G95F7<  G9HH=B;
ID 7CAD9H9B79 79BHF9G  7@IGH9FG CF
G7=9B79 5B8 H97<BC@C;M
D5F?G 5B8
6?3EC9>7 ?> 5>5B7I 56K395>3I 1>4
7@95B9B9F;M
 5=1>4C945=51CEB5CDFCJ=89
=B8=F97H GIDDCFH :CF GIGH5=B56@9
9B9F;M H97<BC@C;=9G 5B8 DF57H=79G
6M7F95H=B;5;F95H9FA5F?9H89A5B8
H<FCI;< H5L
6F95?G  DI6@=7 DFC7IF9

=5>DC 35BD9K31D9?> 1>4 <125<<9>7



F99B @569@@=B; 5B8 F99B )I6@=7
)FC7IF9A9BH ))5F95@F958MIG98
5B85F9GIGH5=B=B;H<9A5F?9H7CAD9H

=H=J9B9GGC:F9B9K56@99B9F;M
65G98
9@97HF=7=HM ,<95DD@=75H=CBC::998
=B

H5F=::G <5G 5@GC 699B J9FM =ADCFH5BH


HCH<98=::IG=CBC:B9KDFC8I7HG5B8
5DDFC57<9GGI7<5GGC@5F).=BGH5@@5

H=CBGH<5H5F9BCK=BGH5@@98=B<CIG9

<C@8G=BG9J9F5@-7CIBHF=9G
"B 588=H=CB  89A5B8 :CF 7@95B
9B9F;M G9FJ=79G 75B 69 DFCACH98
6M =B7F95G=B; 7CBGIA9F 5K5F9B9GG 
F9;I@5HCFM A95GIF9G 5B8 =ADCG=B;

??4'B13D9351C5 

%#!&-*&,*&+('*,
%'*+-+,!&$
+AGD57%7F388;5;7@FI74E;F7:FFB

III ?7F3788;5;7@F 5A?




%"'$U)"' -++ "( +(*",+)-%",*'+)(*,

*

(+,

#&+ &%
*G545> #9>;?@9>7
39DI
,% %*&,)
)579?>1<7?F5B>=5>D

$9>;;O@9>7
7@B
@B?
?=?D5C39B3E<1BB5C?EB35L?GC9>D8539DI2I@B?4E39>729?71C6B?=6??4G1CD5
5B8 5;
5;F==7I@HIF5@ F9G=8I9G 5B8 IG=B; =H HC DCK9F H<9 DI6@=7 HF5BGDCFH GMGH9A  ,<9 %=B?XD=B;
=C;
C;5G
5G D@5BH 69;5B CD9F5H=B; 5@F958M =B  HC HF95H CF;5B=7 K5GH9 :FCA H<9 5;F=7I@HIF5@
G9
97H
7HCF=B+CIH<95GH+K989B BCH<9FA5=BDIFDCG9K5GHCDFC8I796=C;5G:CFH<97=HMG6IG9G
H<5H =BHIFB KCI@8F98I79H<9@C75@ F9;=CB5@5B8;@C65@9A=GG=CBG:FCAH<9IF65BHF5BGDCFH
GMGH9A 
,<9=C;5GD@5BH<5G5B5BBI5@HF95HA9BH75D57=HMC: HCBB9GC:K5GH95B8DFC8I79G
 A=@@=CBAC:ID;F58986=C;5GH<5H=G! ,<=G:I9@G6IG9G5B85BIA69FC:J5BG
5B8 <95JM 8IHM J9<=7@9G  I9 HC GHFCB; DC@=H=75@ GIDDCFH 5B8 @C75@ 97CBCA=7 7C
CD9F5H=CB
H<9DFC>97H<5G699B5F9GCIB8=B;GI779GG +=B79  H<9F9<5J9CB@M699B6=C;5G6IG9G
=B%=B?XD=B;5B8H<=G<5GDFC8I7985F98I7H=CBC:ACF9H<5B HCBB9GD9FM95F=B(
9A=GG=CBG
!>"E>5 D85G?B<4CKBCD29?71CDB19>8514544?G>D85DB13;6B?=$9>;O@9>7D?-NCD5BF9;

,<9HF5=B<58699B7CBJ9FH98:FCA8=9G9@HC6=C
A9H<5B9DFCDI@G=CB6M7<5B;=B;H<99B;=B9
5B89EI=DD=B;=HK=H<9BCI;<7M@=B89FGHCGHCF9H<97CADF9GG986=C;5GH<5HK5GB99898:CF
=HG>CIFB9MG

$1&++ 
)FCACH=B;GIGH5=B56@9HF5BGDCFHGC@IH=CBG=GCB9C:H<9ACGH9::97H=J9A9H<C8GC:A=H=;5H=B;
7@=A5H97<5B;95B8DFCACH=B;H<99B9F;M=B89D9B89B79C:F9;=CBG 7=H=9G5B8HCKBG
?B6EBD85B9>6?B=1D9?>@<51C5C55
8DD@ GGG
951 29?71C
>5D



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

 *736?AD734AGF"!3F
:FFB

<; G@8555 ;@F

 :FFB

75 7GDAB3 7G

7@7D9K
F75:@A>A9K
;@;F;3F;H7E

E?3DF25;F;7E27@ :F?

 :FFB

75 7GDAB3 7G

D7E73D5:
8B
;@67J27@ 58?

 :FFB

75 7GDAB3 7G

D7E73D5:
:AD;LA@

III 7 47; 7G

III 7G?3KADE 7G
34AGF

5AH7@3@FA8?3KADE27@ :F?>

(>73E7E77?AD7A@
:FFB

III
D7@7I34>77@7D9KIAD>6 5A?

D73
@7IE
3DF;5>7



4AA?FAI@4D7?7D:3H7@
F:7A88E:AD7I;@6;@6GEFDK
EG557EEEFADK



GH5B85F8G GI7< 5G 97C


89G=;B 5B8 6I=@8=B;CBH<97CAD5F5H=J958J5BH5;9G
5>5B7I56K395>3I9>2E9<49>7C

C: H<9 F9;=CB 5B8 H<9 9BHF9DF9B9IF=5@
DFC79GGC:8=G7CJ9FM 5GH<=GK=@@DFC8I79
IH<CF=H=9G 75B 5@GC =BHFC8I79 ACF9
H<9;F95H9GHDCG=H=J9@CB;
H9FA=AD57H:CF
=BBCJ5H=J9 9@9A9BHG =B H<9 :CFA
H<9 F9;=CB  +CA9 DCGG=6@9 5DDFC57<9G
C: F9;=CB5@ 5B8 @C75@ =B79BH=J9G
5F9@=GH9869@CK 
:CF 5DD@M=B; =BBCJ5H=J9 9B9F;M

 H@5B9=5>D1D9?> 1>4 45=?>CDB1


56K395>D =1D5B91<C 9> D85 3?>CDBE3

D9?> DFC>97HG 75B DFCJ=89 J5@I56@9


H=CB 5B8 HF5BGDCFH G97HCFG  5G K9@@
CDDCFHIB=H=9G HC =BJ9GH =B @C75@
5G DFCACH=B; =BBCJ5H=J9 6IG=B9GG
F9G95F7< 5B8 =BBCJ5H=CB 75D56=@=

AC89@G5B8G9FJ=79G@=?9+(
H=9G 5B8 89J9@CD @C75@@M
H9GH98
 1642'7&,1*$1()A&,(1632/,&;0,:
GC@IH=CBG ,<9F95F9G9J9F5@9L79@@9BH
?6 CE@@<I 1>4 45=1>4 =51CEB5C
9L5AD@9G C: F9;=CBG 89G=;B=B; H<9=F
5B89BGIF=B;61F?EB12<56B1=5G?B;
@C75@97CBCA=9G5FCIB8H<989J9@CD

&21',6,215 $1' ()A&,(16 *28(41


A9BHC:GIGH5=B56@99B9F;M=B8IGHF=9G
1>35&5F?9H65G98=BGHFIA9BHG@=?9
5B8H<=G =BHIFB <5G=B7F95G98H<9=F
75F6CBH5L 75F6CB7F98=H;9B9F5H=CB
3?=@5D9D9F5>5CC
5B8 75D=H5@=G=B; CB H<9 CDDCFHIB=

=366?=><+>/.3899.#<+->3-/+=/
H=9GC::9F986M75F6CBA5F?9HGIB89F

 %-9>6+8.= </8/A+,6/ /8/<1C


H<9 #C=B "AD@9A9BH5H=CB &97<5B=GA
:<91<+77/ :<9@3./. =?,=>+8>3+6
C: H<9 $MCHC )FCHC7C@ 75B 7F95H9
=?::9<> 09< /B:/<37/8>+>398 +8.
588=H=CB5@ GH=AI@= :CF GIGH5=B56@9
$ +->3@3>3/= A23-2 -98><3,?>/.
9B9F;MA95GIF9G 
>9>23=</1398=A9<6.6/+./<=23:38
 CBG=89F=B; DCGG=6@9 3?=@<5=5>
900=29</</8/A+,6//8/<1C>/-2896
D1B9D95C G9D8 ?D85B >1D9?>1< 1>4
913/=
3EBB5>D , 9>9D91D9F5C 1>4 CDB1D5
795C -B89F H<9 +A5FH =H=9G 5B8
&2/ /<7+8 :9<> 90 </7/<2+@/8
CAAIB=H=9G IFCD95B "BBCJ5H=CB
2+.,//8+</1398A3>223126/@/6=90
)5FHB9FG<=D J5F=CIG H97<BC@C;=75@
?8/7:69C7/8>9A/@/<3>/B:/<3
=BBCJ5H=CBG 75B 69 DFCACH98 =B H<9
/8-/. + </7+<5+,6/ /-98973-
5F95G C: GA5FH 6I=@8=B;  AC6=@=HM
?:>?<8 >2<9?12 3>= ><+8=09<7+>398

5B8 N9FC
9B9F;M 6I=@8=B;  ,<9 -
38>9 + 7+49< 589A6/.1/ -/8></ 38
*9G95F7< F5A9KCF? )FC;F5AA9
/<7+8C+8.?<9:/
98900=29</
A38. :9A/< &+<1/>/. 38@/=>7/8>
) 5B8 H<9 :CFH<7CA=B; !CF=NCB
   GIDDCFH 5 K=89 F5B;9 C:
2/6:/. </7/<2+@/8 >9 ./@/69:
F9G95F7< 5B8 =BBCJ5H=CB DFC>97HG 
7.@ C.5-< 8/ .A,.55.7,. *7-
G89<5 D85 >5B7I 6K395>D E9<49>7C
,/-97/+>><+->3@/>9-97:+83/=38
IFCD95B "B=H=5H=J9 9 "  C::9FG
>2/A38./8/<1C=/->9<
GIDDCFH:CFF9G95F7<5B889ACBGHF5

'CH 5@@ F9;=CBG 75B DFCACH9 GI7<


H=CB  ,<9 =B=H=5H=J9G C: H<9 CJ9B5BH
@5F;9 G75@9 DFC;F5AA9G 6IH H<9M
C: &5MCFG  75B 7CAD@9A9BH H<9
75B ACIBH A98=IA 5B8 GA5@@9F
89J9@CDA9BHC:5@CB;
H9FAJ=G=CBC:
G75@989ACBGHF5H=CBCFD=@CHDFC>97HG
5 GIGH5=B56@9 5B8 GA5FH F9;=CB 5B8
588F9GG=B; @C75@ B998G  ,<9G9 75B
9BGIF95K=89F=BJC@J9A9BHC:GH5?9

=B7@I89H<9H9GH=B;C:B9K=BBCJ5H=J9
<C@89FG =B =B=H=5H=J9G =B H<9 9B9F;M
H97<BC@C;=9G5B8DF57H=79G 5B8*
K5<4

B5CE<DC<9;5
"B G9@97H=B; DF=CF=H=9G :CF H<9 *"+  H<9
&2/ ./@/69:7/8> 90 8/A /8/<1C
GH5?9<C@89FG 5B8 5IH<CF=H=9G =BJC@J98
./C,2.7= 6*=.;2*5< )C;<= 8/ * 427-
G<CI@8 :C@@CK 9J=89B79
65G98 A9H<C8G

(*,!$-!'**%&!&-, '*!,!+

38.?=><3+6=-+6/:<94/->=09<-98-/8
><+>/. =96+< :9A/< 7+<38/ /8/<1C
2+<@/=>381 +8. =/-98. 9< >23<.
1/8/<+>39890,390?/6=A3>26373>/.
37:+->986+8.?=/9<
!/A3./+=+8.-97:6/B7/+=?</=
>2+>-9?6.38-6?./79</=>+>/90>2/
*;=.7.;0B./C,2.7=+>25-270*;,12
>/->?<+6./=318+8./-9=C7,39=3=
,+=/.98/8/<1C/B-2+81/+7981
<.?.;*5 27/;*<=;>,=>;.< "5.*<.
+6=9 =// >2/ =C=>/73- =96?>398=
-2<,><<.-+.58@
*5B889ACBGHF5H=CB57H=J=H=9G75B
69 DFCACH98 6M CE@@?BD9>7 <?31<
9>>?F1D9?> 3<ECD5BC 5B8 6?CD5B9>7
9>3E21D?BC:CF7@95BH97<GH5FH
IDG 
 >DB?4E39>7 9>>?F1D9F5 C?<ED9?>C
D81D<514D?C=1BDDB1>C6?B=1D9?>C
9> DB149D9?>1< CICD5=C C: 9B9F;M
GIDD@M5B8IF65BAC6=@=HMG<CI@869
G99B 5G 5B CDDCFHIB=HM HC G=AI@H5

B9CIG@M 588F9GG @C75@ =B:F5GHFI7HIF9


B998G 5B8 6I=@8 @C75@ H97<BC@C;=75@
31@129<9D95C
&2/,391+=,+=/.><+8=:9<>=C=>/7
:<94/-> 38 385G:381 %A/./8 3=
+8 /B+7:6/ 90 ,96. /B:/<37/8>+
>398 +8. 89@/6 380<+=><?->?</ &2/
+7,3>39?=/009<>=90>2/-3>C+?>29<3
>3/=+8.69-+6</=/+<-2+8.3889@+
>398+->9<=</=?6>/.38+83889@+>3@/
=-2/7/ A23-2 =96@/= >2/ :<9,6/7
90 9<1+83- A+=>/ +8. A+>/< +8.
=/-?</= /8/<1C 38./:/8./8-/ 09<
69-+6 :?,63- +8. :<3@+>/ ><+8=:9<>
"5.*<.<..88-";*,=2,.*<.


9>69< *7- <85*; ,855.,=8; "5.*<.


<..88-";*,=2,.*<.

 ,<9F95F9A5BM=BBCJ5H=CBCDDCFHIB=

H=9G=B@B?:53DCD81DG?B;D?@B?4E35
CICD5=9353?9>>?F1D9F5C?<ED9?>C
GI7<5GGIGH5=B56@97=H=9G5B8=B8IG

HF=5@ GMA6=CG=G  *9@9J5BH 9L5AD@9G 


GI7< 5G ,K99K5H9FG =B 9@;=IA 
!5AA5F6M +>XGH58 =B +K989B 5B8
"B8IGHF=5@ +MA6=CG=G )FC>97HG =B H<9
-$  <5J9 5@F958M 699B 89G7F=698 =B
H<=G;I=89 +I7<DFC>97HG5F9C:;F95H
GHF5H9;=7 J5@I9  5G H<9M ;I5F5BH99
H<9 <=;<9GH GIGH5=B56=@=HM =AD57HG
5B8 H<9=F F9GI@HG 5F9 9LD97H98 HC 69
8=GG9A=B5H98K=89@M 
+MGH9A=7 97C
=BBCJ5H=CB DFC>97HG
5@K5MG <5J9 GIGH5=B56@9 9B9F;M 5G
CB9C:H<9=FA5>CFD=@@5FG ,<9M8CBCH
:C7IG CB 5 G=B;@9 H97<BC@C;M  6IH HFM
HC=BH9;F5H95BIA69FC:H97<BC@C;=75@
5B8 BCB
H97<BC@C;=75@ GC@IH=CBG HC
57<=9J9 GID9F=CF D9F:CFA5B79 5B8
@CB;
H9FAGIGH5=B56=@=HM CF9L5AD@9 
H<9MA=;<HIG97@95B9B9F;M:FCAGC@5F
).GCF6=C;5G 7CA6=B98K=H<=BGI@5

H=CB <95HF97CJ9FMCFN9FC9B9F;M6I=@8

=B;G ,<9M5F9C:H9BGIDDCFH986M",
5DD@=75H=CBGH<5H<9@DHCACB=HCF5B8
5JC=8 9B9F;M @CGG 5B8 H<9M 75B 5@GC
697CA6=B98K=H<@CK
75F6CBAC6=@=HM
GC@IH=CBG  ,<IG  GI7< DFC>97HG <9@D
HC6I=@8H97<B=75@5B8*9LD9FH=G9
5B8 DFCACH9 7CCD9F5H=CB 69HK99B
7CAD5B=9G5B8*"57HCFGCBG9J9F5@
HCD=7GCFGD97=5@=H=9G

&2/ 3<=>98+= -9&9A8 :<94/->


900/</. 79</ =C=>/73- =96?>398= 09<
69-+6 /8/<1C +8. 2/+>381 /=3./=
269;8?270 =1. .7.;0B ./C,2.7,B 8/
,?36.381=3>:<979>/.>2/+::63-+>398
9079</+.@+8-/.=96?>398=38-6?.381
><+8=09<7381 + -9+6,+=/. 2/+>381
:6+8>38>9,397+==,+=/.2/+>1/8/<
+>398 0+-363>C +8. 38><9.?-381 2/+>



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

 :FFB

E7F;E 75 7GDAB3 7G

 AD7J3?B>7B>73E7
E77:7D7:FFB

75 7GDAB3
7G
D79;A@3>2BA>;5K
EAGD57E

6A597@7D
7H3>G3F;A@
7H3>E76

9G;67
;@67J27@ :F?

$*,) %')&)** %
*,*+ %#%)0')&!+*
%+ - + *

C: H<9 +, )@5B 6M +,"+ H<9 =B:CFA5

H=CB GMGH9A C: H<9 +, )@5B  K<=7<


F9DF9G9BH 5 IG9:I@ HCC@?=H :CF ACB=HCF=B;
/<=@9D@5BB=B;H<9=F57H=J=H=9G &5B5;=B;
5B8F9J=9K=B;H<9CJ9F5@@DFC;F9GGC:H<9
IH<CF=H=9GG<CI@8=B7@I8957CADF9<9B

IFCD95B"B8IGHF=5@"B=H=5H=J9GC:H<9+,
G=J9 ACB=HCF=B; 5B8 9J5@I5H=CB GMGH9A 
)@5B C:=B8=J=8I5@F9G95F7< 89J9@CDA9BH
57< DFC;F5AA9 5B8 DFC>97H G<CI@8
5B8 89ACBGHF5H=CB 57H=J=H=9G D9F:CFA98
81F51G5<< 45K>54C5D?69>4931D?BCD81D
=B:F5A9C:H<9=F=AD@9A9BH5H=CB
K=@@9B56@9DFC;F9GG=B57H=J=H=9G CIHDIHG
5B8F9GI@HGHC6989H9FA=B98 "B8=75HCFG ,<9 ACB=HCF=B; 5B8 9J5@I5H=CB GMGH9AG
G9<< 81F5 D? B5L53D D85 ?2:53D9F5C 1>4 5B8=B8=75HCFGH<5H5F958CDH98K=@@<5J9
HMD9GC:DFC>97H5B8H<9G975BJ5FMG=;B=:
D?B5L53DD85@53E<91B9D95C?65138@B?:53D

=75BH@M +CA99L5AD@9GC:=B8=75HCFGH<5H )FC>97H 5B8 DFC;F5AA9 89J9@CD9FG


75B 69 IG98 HC A95GIF9 DFC>97HG 5B8 C8?E<4 B565B D? C@539K31<<I 45C97>54
DFC;F5AA9G  K<=7< DFCACH9 F9G95F7< F9GCIF79G5B8;I=89G:CFH<9ACB=HCF=B;
5B8=BBCJ5H=CB=BGIGH5=B56@99B9F;M 5F9 5B8 9J5@I5H=CB C: DFC;F5AA9G 5B8
DF9G9BH98 69@CK  &5B5;=B; 5IH<CF=H=9G DFC>97HG  5B8 G<CI@8 5@GC 7CBGI@H
31> 25>5KD 6B?= D85 #5I (5B6?B=1>35 9LD9FHG =B ACB=HCF=B; 5B8 9J5@I5H=CB
"B8=75HCFG 9@56CF5H98 =B H<9 :F5A9KCF? 8IF=B;H<9D@5BB=B;DFC79GG

 ,)
/$'#*& % +&)*++%,* %)+ &,**,*+ %#%)0')&)$$*

)*&,)
)*&,)
% +&)*
% +&)*

&,+',+
&,+',+
%
+&)*
% +&)*

)*,#+ )*,#+
% +&)*
% +&)*
%- )&%$%+#
( +(F98I798
=FEI5@=HM=ADFCJ98

Z5@@C75H98:CF*"
!IA5B9::CFH=BJ9GH98
85MG
+I6G=8M=BZ:CF957<
?/<C:F9B9K56@99B9F;M
,F5=B=B;7CIFG9G85MG Z
(F;5B=G5H=CB5@CFF9;I@5

HCFMA95BG=BHFC8I798

'C C:D5H9BHG=B*+5B8
K<54
'C C:DI6@=75H=CBGCB*+
5B8HCD=7GGI6A=HH98HC
>CIFB5@G
'C C:<CIG9<C@8GK=H<
9=@B?F545>5B7I56K395>D
DFCD9FH=9G
'C C:+&GF979=J98
58J=79 HF5=B=B;=B9B9F;M
A5B5;9A9BH
'C C:75FG 6IG9GFIBB=B;
CB6=C;5G

& %%&-+ &%


DD@=75H=CBC:D5H9BHG=BDFC8I7HG5B8
DFC79GG9G
)CDI@5F=HMG5@9GC:H<9B9KDFC8I7HCBH<9
@C75@A5F?9H
+D=B
C::G65G98CBH<99B9F;M*DFC>97H
CF=B=H=5H=J9
&%&$ 
!>3B51C59>5>5B7I56K395>3I
G5J=B;G=BZ
(B?KD6B?=CECD19>12<55>5B7I@B?:53DC9>P
'C C:75F6CB7F98=HG;9B9F5H98
"B7F95G9=BHIFBCJ9F
F9J9BI9G5B8F9HIFBCB=BJ9GHA9BH=BZ
*& #
'C C:>C6G7F95H98
"ADFCJ98AC6=@=HMDCGG=6=@=H=9G
"ADFCJ98EI5@=HMC:9B9F;MG9FJ=79G
'C C:B9K6IG=B9GG9G7F95H98

??4'B13D9351C5 

,'/*+&*1
+$+-!!&1
+AGD57:FFB

E75GD7 57@7D 5A?


6A5G?7@FAE
,2&*$2!&$+ B68

'.***)+,!'",+("'.+,&',"'*

*

)*(#,

(+,

#&+ &%
*@19> %1F1BB1
,% %*&,)
*@1>9C8?F5B>=5>D
?F5B>=5>D?6%1F
1BB1)

'5J5FF5 =G HF5BG:CFA=B; =HG9@: :FCA 69=B; 5 F9;=CB 89D9B85BH CB =ADCFH98 9B9F;M =BHC 5
7<5AD=CBC:GIGH5=B56@99B9F;MDFC8I7H=CB M   C:H<99@97HF=7=HM89A5B8=BH<9
F9;=CBK5GDCK9F986MF9B9K56@9G ,<9HCH5@=BGH5@@9875D57=HMC:F9B9K56@99@97HF=7=HMD@5BHG
K5G7@CG9HC  &/ C:K<=7< &/K5G89F=J98:FCAK=B8DCK9F 
(J9F H<9 @5GH HK9BHM M95FG  '5J5FF5 <5G 699B 57H=J9@M =BJ9GH=B; =B =BBCJ5H=J9 H97<BC@C;=9G
5B8H<989J9@CDA9BHC:5@C75@A5F?9H:CFF9B9K56@99B9F;M ,<=G<5G=AD@=98D8545C97>?6
B579?>1< B5>5G12<5C CDB1D5795C  K<=7< 9AD<5G=G98 H<9 B?<5 ?6 ) 57H=J=H=9G =B F957<=B;
H<9=FC6>97H=J9G '5J5FF5G=BGH=HIH=CB5@GIDDCFHG7<9A9G=B7@I898A1$1&,$/$55,56$1&(5B8
D1H3B549DC6?BB5>5G12<55>5B7I9>F5CD=5>DC1>4)1>49>>?F1D9?>@B?:53DC9>D89CK5<4
 >
6+(3(4,2'


4(1(9$%/((1(4*;&203$1,(5,18(56('024(6+$1@

0,//,21,1
1(9342-(&65$8$44$?54(1(9$%/((1(4*;,1'7564;$/52*(1(4$6('

-2%5$1'2)
6+(4(*,21?5%;

(B9?9M=BJ9GHA9BHK5GH<9'5H=CB5@*9B9K56@9B9F;M9BHF9C:+D5=B'* '*K5G
:CIB898=B  5B8=HGA5=B57H=J=H=9GF9JC@J95FCIB8*"DFC>97HG:CFH97<BC@C;M89J9@

?@=5>D
!D?665BC1CC9CD1>35D?<?31<3?=@1>95C9>3?=@?>5>DD5CD9>71>435BD9K31D9?>1>49>
H97<B=75@5B897CBCA=7:95G=6=@=HMGHI8=9G @@H<9G957H=J=H=9GGIDDCFHH<97CAA9F7=5@=G5H=CB
C: B9K H97<BC@C;M  ,<9 9BHF9 <5G =BJ9GH98 =B GH5H9
C:
H<9
5FH H97<BC@C;=75@ =B:F5GHFI7HIF9G
AC89FB @56CF5HCF=9G 5B8 :57=@=H=9G :CF H9GH=B; DFCHCHMD9G  @@ *" =B:F5GHFI7HIF9 DFC>97HG
=B7@I8=B;H<96I=@8=B;C:H<99BHF9G<958EI5FH9FG <5J9699B75FF=98CIHK=H<GIDDCFH:FCA
H<9* HCH5@@=B;5FCIB8Z A=@@=CB 
'5J5FF5=G58J5B7=B;H<9FC@9C:F9B9K56@99B9F;M=BH<9F9;=CBH<FCI;<=HG,<=F8*9B9K56@9
>5B7I(<1> ?B9J?> 
!D9C1<C? @B9?B9D9C9>7B5>5G12<55>5B7I9>D85$&)%'<1>
$8$44$?5 ! !64$6(*;)53?7>9C9>79DC@?D5>D91<D85EB?@51>!>F5CD=5>D1>;G9<<K>1>35
H<96IG=B9GGDFC>97HG 89J9@CD985GD5FHC:H<9&(*')@5B HC5HCH5@C:Z A=@@=CB

$1&++ 
+HF5H9;=7=BJ9GHA9BH=B*=B:F5GHFI7HIF95B87CBH=BICIGGIDDCFH:CFH97<BC@C;M7CAA9F

7=5@=G5H=CB<5G@98HC5;@C65@F97C;B=H=CBC:'5J5FF55G69=B;5HH<97IHH=B;
98;9C:F9B9K

56@99B9F;MDFC8I7H=CB 
?B6EBD85B9>6?B=1D9?>@<51C5C55

KKK AC89FB5B5J5FF5 7CA

8DD@ GGG
35>5B
3?= 5> 9>45H
1C@

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

%*,$$)0
%1>I %5=25B *D1D5C 1>4 B579?>C 81F5 3?>C945B12<5 ?@@?BDE>9D95C D? 25>5KD
:FCAH<9=BH9;F5H=CBC:GIGH5=B56@99B9F;M=BHCH<9=F*"+ /<9H<9F5B8<CKH<9G9
CDDCFHIB=H=9G K=@@ 69 89D@CM98 89D9B8G CB H<9 GHF5H9;=7 5DDFC57<9G 69=B;
89J9@CD985B85DD@=986MH<9*"+D5FHB9FG5B8H<9&5B5;=B;IH<CF=H=9G
"B H<9 7IFF9BH 5B8 :CFH<7CA=B; :IB8=B; D9F=C8G  F9;=CBG 5B8 &9A69F +H5H9G
G<CI@8 H5?9 H<9 CDDCFHIB=HM HC A5?9 5 6F95?
H<FCI;< =B 9GH56@=G<=B; CF
ID;F58=B;H<9=F=BBCJ5H=CB75D57=H=9G5B875D56=@=H=9G=BGIGH5=B56@99B9F;M5G
K9@@5GHC>C=B:CF79GK=H<=BH<9GHF5H9;=7:F5A9C:H<9+,
)@5B ,<=G75B<9@D
H<9AHC9BGIF9GIGH5=B56@9;FCKH<:CFH<9=F97CBCA=9G5B8588=H=CB5@>C6G:CF
H<9=F7=H=N9BG

,)+)) %
*,*+ %#%)0

*&,)

*) '+ &%

.)
+& % +

"B7@I89G=B:CFA5H=CBCBCAAIB=75H=CBG 57H=CBD@5BG5B8
DFC;F9GGF9DCFHGCB9B9F;MDC@=7MH5F;9HG @GCDFCJ=89G@=B?G
D? EB?@51> +538>?<?7I (<1D6?B=C 9> D85 K5<4 ?6 CECD19>12<5
5>5B7ICE381C
 ,<9IFCD95B/=B8B9F;M,97<BC@C;M)@5H:CFA
,<9IFCD95B)<CHCJC@H5=7,97<BC@C;M)@5H:CFA
%)0
)%.#
%) *

,<9IFCD95B=C
:I9@G,97<BC@C;M)@5H:CFA
8DD@ 53
3
5EB?@
@1
5
5E
,<9 IFCD95B ,97<BC@C;M )@5H:CFA :CF H<9 @9
97HF=7=HM
HM
9B9F;
;M F9B9K
9K56
6@9G
'9HKCF?GC:H<9IHIF9
,<9IFCD95B,97<BC@C;M)@5H:CFACB*9B9K5
K56@9!9
!95H=B;
5B8CC@=B;
29FCA=GG=CBCGG=@I9@)CK9F)@5BHG
,<9+IGH5=B56@9'I7@95F,97<BC@C;MM)
)@5H:CFFA
,<9 I9@ 9@@G 5B8 !M8FC;9B #C
#C=BH ,9
,97<BC@C;MM "B=H=5H
5H=J
=J9
!#,"

%)0
%)0
  %0

"B7@I89GDC@=7M8C7IA9BHG =B:
B:CFA5
5H=H=CBCBDC
C@=@=7M=AD
AD@9
9A9BH5

H=CB :IB8=B; F9G95F7<5B889


89ACBG
BGHF5H=CB=B=H=H==5H=J9G
G5B
B89LD@5B
B

1D?BIF945?C?>5>5B7I56K
6K395>3I
3ID?@93C


8DD@
@ 5
53

5EB?
B?
?@1
5
5E
5>5
5>
5B7I
7I 56K
6K39
395>
>3I

(*,!$-!'**%&!&-, '*!,!+

*&,)

*) '+ &%

.)
+& % +

*$)+ + *
%
&$$,% + *

CB+A5FH=H=9G5B8CAAIB=H=9G ,<9D5FHB9FG<=DDFCDCG9GHC
DCC@ F9GCIF79G HC GIDDCFH H<9 89ACBGHF5H=CB C: 9B9F;M  HF5BG

DCFH 5B8 ", =B IF65B 5F95G  ,<9 9B9F;M  HF5BGDCFH 5B8 ",
8DD@ 53
5EB?@1
5E
=B8IGHF=9G 5F9 =BJ=H98 HC KCF? HC;9H<9F K=H< 7=H=9G HC 7CA6=B9
9B9F;M H97<BC@C;M
H<9=FH97<BC@C;=9GHC588F9GG7=H=9GB998G "B:CFA5H=CB=G;=J9B
CB<CKH<9D5FHB9FG<=DKCF?G=BDF57H=79 K<5H=GH<9:IB8=B;
5J5=@56@9:CF89ACBGHF5H=CBDFC>97HG5B8K<5H?=B8C:DFC>97HG
3?E<4253? K>1>354

+*+'#%

,<9 +,
)@5B 9GH56@=G<9G 5B 9B9F;M H97<BC@C;M DC@=7M
7M ::C
CF
IFCD9  "H =G 5 GHF5H9;=7 D@5B HC 5779@9F5H9 H<9 89J
9J9@
9@CDA9BH
5B889D@CMA9BHC:7CGH
9::97H=J9@CK75F6CB
B9B
9B9F;MH97<BC@C

;=9G  ,<9 +,


)@5B +H99F=B; FCID +
+,
,
FCID =G 7CADCG98
?68978 <5F5<%5=25B*D1D5B5@
@B5
B5CC5>D1D9F5CG8?81F5CE6K395>
5>DD
9LD9FH=G9HCDFCJ=89F95@==GH
GH=7
=758J=79CB7CAAIB=HM5B8
8B5H=CB5@
B
*" =BJ9GHA9BHG  ,<9
<9 "B:CFA5H=CB +MGH9A +,
,"+
"+ DFCJ=89G 5B
ID85H98,9
97<
7<BC@C;M&5D K<=7<DF9G9B
BHG5GB5DG<CHC:7IFF9BH
5
9B9F
9F;M
;MH97<BC@C;MA5F?9HGC@IH=C
CBG
BG

%)0

8DD@ 53
5E
EB?
B?@
@1
5E
9B9FF;M
;M H
H97<BC@C;M

8DD@ C5D9C

97 9IFCD5 9I

+
,)&'%
%)0
)*)
## %
)

,<9 C6>97H=J9 C: *


*
 =G HC 5779@9F5H9 H<9 89J9@CDA9BH C:
B9K 9B9F;MM HH9
97<BC@C;=9G 6M 7CB79=J=B; 5B8 =AD@9A9B
BH=H=B
B;
#C=BH*9
*9G95F7<)FC;F5AA9G=BGIDDCFHC:H<9+,
)@
)@5B
5B ,<9G9
KKK 99F5
G9H
9H 9I
9
DFC;F5AA9G 7CA6=B9 B5H=CB5@ 5B8 - GCIF7
F79
9G C: :IB8=B; HC
A5L=A=G9 7CAD@9A9BH5F=H=9G 5B8 GMB
MB9F
9F;
;=9G  * A9A69FG
5F9@958=B;IFCD95B*9G95F
5F7<
7<"BGH=HIH9G 

 +" 
%%&%)0

,<=G =G 5 IFCD9


D95
5B =BBCJ5H=CB 7CAAIB=HM
M CB
CB GIGH5=B56@9
9B9F;M K<
<=7
=7<
<7CADF=G9GA9A69FG::FC
FCA=B8IGHFM F9G9
G95
5F7<
5B8
898
98I75H=CB "H=G5@CB;
H9FA



 M95FD5FHB9F
9FG<
G<=D K<=7<
8DD@ GGG

6?3EC5C?>9>>?F1D9?>C9>D8
D85
5KK5<4C?6<51>
>?
?1<+538>?<?795C
?=7
=BBC9B
B9F
9F;M
IFCD95B+A5FH@9
97HF=7
=
F=8G5B8@
@97
97HF=7+HCF5;9"BH9@@=;9BH 
7CA
A
>5B7I 6K3995>
5>DD E9<49>7C 1>4
4 9D95C >5B7I 6B?= 85=931<
I9@G
G *9B9K56@9G
*
5B8
B8 +IGH5=B56@9
+
'I7@95F 5B8 *9B9K
K56
56@9
B9F;MCBJ9F;
B
;9B
9B79

((&!0

&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

:FFB

5AD6;E 7GDAB3

7G
7G8G@6;@99G;67
:A?72
7@ :F?>



('++!$+1&*!+/!, 
', *-!&!,!,!.+
,<9F9 5F9 5 BIA69F C: K5MG =B K<=7<
F5A9KCF?)FC;F5AA95B8
&5B5;=B; IH<CF=H=9G 75B =ADFCJ9 H<9
,<9 C<9G=CB 5B8 +HFI7HIF5@ IB8G
9::97H=J9B9GGC:H<9=FDC@=7M=BH9FJ9BH=CBG
H<5H 5F9 7CAD@9A9BH98 6M =B:CFA5

5B87F95H9GMB9F;=9GK=H<CH<9FDC@=7=9G
H=CB 56CIH H<9 IFCD95B ;F=7I@HIF5@
,<9M75B5@GCKCF?K=H<=BH9FB5H=CB5@5B8
IB8:CF*IF5@9J9@CDA9BH5B8H<9
>1D9?>1< K>1>391< 9>CD9DED9?>C D? <5F5B175
IFCD95B=G<9F=9GIB8 
B5C?EB35C1>4=1H9=9C5D85EC5?6K>1>

,<9 ;I=89 5@GC :C7IG9G CB 588=H=CB5@


7=5@=BGHFIA9BHG
6E>49>7 ?@@?BDE>9D95C 9> D85 K5<4C ?6
,<9F95F9A5BMCDDCFHIB=H=9GHC9B;5;9
F9G95F7< 5B8 =BBCJ5H=CB  "H =B7@I89G
K=H< CH<9F F9;=CBG =B H<9 9L7<5B;9 C:
=B:CFA5H=CB CB H<9 %=:9@CB; %95FB=B;
;CC8 DF57H=79G CB 5 K<C@9 F5B;9 C:
)FC;F5AA9 5B8 =BH9FB5H=CB5@ 7CCD9F5

5GD97HG F9@5H98 HC GIGH5=B56@9 ;FCKH<


D9?>9>54E31D9?>1>4?>$!9>D85K5<4
,<9 IFCD95B ,9FF=HCF=5@ CCD9F5H=CB
C:H<99BJ=FCBA9BH "H5@GC89G7F=69GH<9
'2:53D9F5?6B579?>1<@?<93I1>4C@539K

F9G95F7< 5B8 =BBCJ5H=CB :IB8=B; CDDCF

75@@MH<9"%+))5B8,)+=B=H=5

HIB=H=9G H<5H 5F9 5J5=@56@9 =B 7CIBHF=9G


H=J9G 75B69IG98:CFGI7<9L7<5B;9G
CIHG=89 H<9 IFCD95B -B=CB  H<FCI;<
&57FC
F9;=CB5@ 5B8 G95
65G=B GHF5H9
)F9
5779GG=CB GG=GH5B79 5B8 H<9
795C 31> 25 45K>54 1C 2B?14<I 21C54 IFCD95B '9=;<6CIF<CC8 5B8 )5FHB9F

=BH9;F5H98 =BGHFIA9BHG 7CJ9F=B; G9J9F5@ G<=D"BGHFIA9BH


&9A69F+H5H9G5B8F9;=CBG:C7IG=B;CB
&5B5;=B;IH<CF=H=9G5B8CH<9FF9;=CB5@
H<9 5@=;BA9BH C: DC@=7=9G 5B8 :IB8=B; HC
57HCFG75B7C@@56CF5H9K=H<H<9 B5<5F1>D
=B7F95G9DC@=7M7C<9F9B795B8H<9CJ9F5@@
1ED8?B9D95C 9> D859B $5=25B *D1D5C HC
=AD57H C: DI6@=7 GD9B8=B;  ,KC =13B?
89J9@CD H5F;9H98 D=@CHG  '5H=CB5@ DI6@=7
B579?>1< CDB1D5795C 6?B D85 1<D93 *51
5;9B7=9G =AD@9A9BH=B; 9BJ=FCBA9BH5@ 
5B8 H<9 1>E25 )579?>C DF9D5F98 6M
9B9F;M  5;F=7I@HIF5@  :CF9GHFM  =B8IGHF=5@ 
H<9 CAA=GG=CB  5H H<9 F9EI9GH C: H<9
97C
=BBCJ5H=CB5B8CH<9FDC@=7=9GG<CI@8
IFCD95BCIB7=@ 5F95@F958MIB89FK5M
69 G99B 5G DCH9BH=5@ D5FHB9FG =B J5F=CIG
,<9 BCJ9@HM C: H<9 A9H<C8 =G H<9 K5M =B
F9;=CB5@=B=H=5H=J9G 
K<=7< =H 6F=B;G 7CIBHF=9G HC;9H<9F HC
7CCD9F5H9 CB G9HH=B; ;C5@G  5@=;B=B; BIA69FC:9>D5B>1D9?>1<1>4EB?@51>
:IB8=B; 5B8KCF?=B;HC;9H<9FHC57<=9J9 ?B71>9C1D9?>C 5@GC =AD@9A9BH DFC>97HG
H<9=F 7CAACB C6>97H=J9G  K=H< H<9 :C7IG98 CB 97CGMGH9A DFCH97H=CB  =B
CAA=GG=CBDFCJ=8=B;H<9CJ9F5@@7CCF8=
K<=7< H<9M G99? HC 7CCD9F5H9 K=H<
B5H=CB5@5B8@C75@5IH<CF=H=9G AIB=7=D5@=

B5H=CB
H=9G5B86IG=B9GG9G ,<9G9=B7@I89GI7<
"B=HGP'B13D931<E945?>D85,E>49>7
F9BCKB98 CF;5B=G5H=CBG 5G H<9 /CF@8
3324671,6,(5?  H<9IFCD95BCAA=G

/=89 IB8 :CF '5HIF9 //  H<9 "BH9F

G=CB DFCJ=89G 5 89H5=@98 9LD@5B5H=CB C:


B5H=CB5@-B=CB:CFCBG9FJ5H=CBC:'5HIF9
<CK =BBCJ5H=J9 DFC>97HG 5B8 =B=H=5H=J9G
"-'  H<9 *9;=CB5@ BJ=FCBA9BH5@
31> 25>5KD 6B?= D85 C?EB35C ?6 6E>49>7
9BHF9 :CF 9BHF5@ 5B8 5GH9FB IFCD9
H<5H=HDFCJ=89G ,<9;I=89=B7@I89GID
HC

*  =F8%=:9 "BH9FB5H=CB5@ 5B8 A5BM


85H9 =B:CFA5H=CB 56CIH H<9 H<F99 A5=B
CH<9FB5H=CB5@5B8@C75@' (G5B8;F5GG

C?EB35C?66E>49>7>1=5<I
FCCHGCF;5B=G5H=CBG 
,<9 H< *9G95F7< F5A9KCF?
=;IF9  DFCJ=89G 5B CJ9FJ=9K C: CH<9F
)FC;F5AA9
DC@=7=9G5B8=B=H=5H=J9GH<5H75BGIDDCFH*"+
,<9CAD9H=H=J9B9GG5B8"BBCJ5H=CB =BDFCACH=B;GIGH5=B56@95B8GA5FH;FCKH<

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

(

"''(.,"('
(+1+,&
+-))(*,
+-+,"'%
'* 1

 ,:7;@8AD?3F;A@34AGF
F:7(53@473557EE76
H;3'*!+(+7DH;57
:FFB

5AD6;E 7GDAB3 7G

8B
:A?727@ :F?>3@6F:7
GDAB73@A??;EE;A@(
I74E;F7:FFB

75 7GDAB3 7G

D7E73D5:
8B
;@67J27@ 58?

 :FFB

75 7GDAB3
7G
D7E73D5:
7@7D9K
7G

8G@6;@9
8D3?7IAD=
;@67J2
7@ :F?7@7D9K

 :FFB

75 7GDAB3
7G
7@H;DA@?7@F
8G@6;@9

5;B27@ :F?
 :FFB

75 7GDAB3 7G

7@7D9K
;@F7>>;97@F
;@67J2
7@ :F?>

')&)$$*) '+ &%

)#-%
+&)

?B9J?>

'=GH<9-F5A9KCF?)FC;F5AA9:CF*9G95F7<5B8
"BBCJ5H=CB "HK=@@FIB:FCA HC  K=H<5BZ 6=@@=CB6I8;9H "HK=@@
7CA6=B95@@F9G95F7<5B8=BBCJ5H=CB:IB8=B;7IFF9BH@MDFCJ=898H<FCI;<
H<9 F5A9KCF? )FC;F5AA9G :CF *9G95F7< 5B8 ,97<B=75@ 9J9@CDA9BH 
H<9 =BBCJ5H=CB F9@5H98 57H=J=H=9G C: H<9 CAD9H=H=J9B9GG 5B8 "BBCJ5H=CB
F5A9KCF?)FC;F5AA9")5B8H<9IFCD95B"BGH=HIH9C:"BBCJ5H=CB5B8
,97<BC@C;M",
+85*5F5>D8)5C51B38B1=5G?B;'B?7B1==5' CE@@?BDCC@539K3
9BJ=FCBA9BH5@ F9G95F7< DFC>97HG  DF98CA=B5H9@M =B H<9 7CCD9F5H=CB
7C@@56CF5H=J9F9G95F7<DFC;F5AA9  ,<9)=G89G=;B98HCGIDDCFH5
K=89F5B;9C:D5FH=7=D5BHG =B7@I8=B;DF=J5H97CAD5B=9G5B8DI6@=7CF;5B

=G5H=CBG 5GK9@@5G=B8=J=8I5@F9G95F7<9FG ,<9)DFC;F5AA95F95GC:


CCD9F5H=CB5B85D57=H=9G5F9D5FH=7I@5F@MGI=H98HCGIDDCFH=B;F9G95F7<
1>49>>?F1D9?>13D9F9D95C1>49>3B51C9>731@139DI9>D85K5<4C?65>F9B?>

A9BH5B89B9F;M 5GK9@@5GB5BCG7=9B79G B5BCH97<BC@C;=9G A5H9F=5@G


5B8B9KDFC8I7H=CB %C75@F9G95F7<79BHF9G75B7F95H9D5FHB9FG<=DGK=H<
5>D5B@B9C5CD?1335CC6E>49>76?BC395>D9K31>49>>?F1D9?>13D9F9D95C
(
C::9FG5;F95HJ5F=9HMC:CDDCFHIB=H=9G:CF9B9F;M
F9@5H98 F9G95F7<:IB8=B; 
,<9ACGHC6J=CIG=GH<94B9F;M,<9A9 C:H<9CCD9F5H=CB)FC;F5AA9
K<=7< =G GC@9@M 898=75H98 HC 9B9F;M =GGI9G 5B8 <5G 5 6I8;9H C: Z 
6=@@=CB:CF Q  D5FH:FCAH<=GH<9A9H<9F95F9CH<9FH<9A9G=BH<9
CCD9F5H=CB)FC;F5AA9H<5H588F9GG=GGI9GF9@9J5BHHC9B9F;M
!>3?CICD5=CE@@?BDD85DG?D85=1D931B51C1B5
CC8 ;F=7I@HIF95B8=G<9F=9G5B8=CH97<BC@C;MH<9A9 K<=7<
9C2E9<D1B?E>4
+IGH5=B56@9DFC8I7H=CB5B8A5B5;9A9BHC:6=C@C;=75@F9GCIF79G
:FCA@5B8 :CF9GH5B85EI5H=79BJ=FCBA9BHG
CF?HC:5FAK<=7<7CJ9FG:CC8=B7@I8=B;G95:CC8 <95@H<5B8
K9@@
69=B;5B8
%=:9 G7=9B79G  6=CH97<BC@C;M 5B8 6=C7<9A=GHFM :CF GIGH5=B56@9
BCB
:CC8DFC8I7HG5B8DFC79GG9G
BJ=FCBA9BH =B7@I8=B;7@=A5H97<5B;9H<9A9=B7@I8=B;DF98=7H=B;
7<5B;9G=B7@=A5H9 97C@C;=75@7CB8=H=CBG 95FH<5B8C795BGMGH9AG
HCC@G 5B8 H97<BC@C;=9G :CF ACB=HCF=B; DF9J9BH=CB 5B8 A=H=;5H=CB C:
9BJ=FCBA9BH5@ DF9GGIF9G 5B8 F=G?G =B7@I8=B; <95@H< F=G?G GIGH5=B

56=@=HMC:H<9B5HIF5@5B8A5B
A5899BJ=FCBA9BH
57<H<9A9<5G699B5@@C75H98Z 6=@@=CBC::IB8=B;:CFH<98IF5H=CBC:
) "BF9GDCBG9HCH<9GC7=9H5@7<5@@9B;9GHC69588F9GG98 H<9H<9A9G
K=@@ <5J9 5 GH99D =B7F95G9 =B :IB8=B; :CF H<9 :CFH<7CA=B; DFC;F5AA=B;
D9F=C8 IB89F!CF=NCB 
+85?=@5D9D9F5>5CC1>4 >>?F1D9?>B1=5G?B;'B?7B1==5O>DB5
@B5>5EBC89@1>4 >>?F1D9?>'B?7B1==5 ' '
GIDDCFHGDFC>97HG=B
53? 9>>?F1D9?>D8B?E78K>1>391<9>CDBE=5>DC>5DG?B;9>7?613D?BC1>4@9<?D
5B8A5F?9HF9D@=75H=CBDFC>97HG
+85 >D5<<975>D >5B7I EB?@5   'B?7B1==5
 C: H<9 CAD9H=H=J9

>5CC1>4!>>?F1D9?>(B?7B1==5!(6E>4C13D9?>D?
?CD5B5>5B7I56K395>3I1>4D85B1D9?>1<EC5?65>5B7IB5C?EB35C



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

(

"''(.,"('

')&)$$*) '+ &%

(+1+,&
+-))(*,

)FCACH9B9K5B8F9B9K56@99B9F;MGCIF79G5B8HCGIDDCFH9B9F;M
49F5BC9K31D9?>1>4

+-+,"'%
'* 1

(B?=?D55>5B7I56K395>3I1>4D85EC5?6>5G1>4B5>5G12<55>5B7I
GCIF79G=BHF5BGDCFH+,* 
,<9 " DFC;F5AA9 8C9G BCH :IB8 H97<B=75@ *, DFC>97HG  "H 588F9GG9G
BCB
H97<BC@C;=75@ 65FF=9FG 5B8 57HG 5G 5 75H5@MGH :CF GC7=C
97CBCA=7
A5F?9H F9;I@5HCFM DC@=7M5B8=BGH=HIH=CB5@7<5B;9G ,<9DFC;F5AA9<5G5
HCH5@ 6I8;9H C: Z  A=@@=CB ,<9F9 <5G 5@GC 699B GCA9 F9@9J5BH KCF? CB
GIGH5=B56@97CBGHFI7H=CB5@GCIB89FH<9")7C
=BBCJ5H=CBDFC;F5AA9

:FFB

75 7GDAB3 7G

7@H;DA@?7@F
>;87

:FFB

75 7GDAB3 7G

7@H;DA@?7@F
>;87
;@67J :F?

:FFB

75 7GDAB3

7G
D7E73D5:
;@6GEFD;3>2
F75:@A>A9;7E
7@7D9K788;5;7@F
4G;>6;@9E27@ :F?>

#  9C D85 ,C K>1>391< 9>CDBE=5>D D81D CE@@?BDC 5>F9B?>=5>D1< 1>4


B5HIF97CBG9FJ5H=CBDFC>97HGH<FCI;<CIHH<9- 5GK9@@5G=BGCA975B8=

85H9 57798=B;5B8B9=;<6CIF=B;7CIBHF=9G ,<9%"DFC;F5AA9GIDDCFHG


DFC>97HG 588F9GG=B; BJ=FCBA9BH5@ )C@=7M  CJ9FB5B79 5B8 "B:CFA5H=CB
1>4 ?==E>931D9?> 1>4 D13;<5C >9>5 =19> D85=5C >1DEB5 1>4 29?49F5B

G=HM 5=F 9B9F;M 7@=A5H9 9BJ=FCBA9BH5@ A5B5;9A9BH =B8IGHF=5@ DFC8I7

H=CBIF65B9BJ=FCBA9BHEI5@=HMC:@=:9GC=@G @5B8
IG95B85;F=7I@HIF95B8
G1CD51>4G1D5B
*9>35 $!81C3? K>1>354C?=5 @B?:53DC1>4
7CBHF=6IH985DDFCL=A5H9@MZ 6=@@=CBHCH<9DFCH97H=CBC:H<99BJ=FCBA9BH
B1>DCD?K>1>35@B?:53DC9CD85=19>DI@5?69>D5BF5>D9?>?6D85@B?7B1==5

%"K>1>35C45=?>CDB1D9?>@B?:53DC21C54?>CDE495C?BD5CDCD81D81F5
G<CKB =B=H=5@@M DFCA=G=B; F9GI@HG  )FC>97H H<9A9G =B7@I89 9B9F;M DFC8I7

D9?> 1>4 49CDB92ED9?> B5>5G12<5 5>5B7I D538>?<?795C 5>5B7I 56K395>3I 9>


8=::9F9BH5F95G 5GK9@@5GH<9F98I7H=CBC:;F99B<CIG9;5G9G
,<9=BH9B8GHC5@@C75H9Z 6=@@=CBCJ9FH<9D9F=C8 
  HC5B9K
%")FC;F5AA9:CFH<9BJ=FCBA9BH5B8@=A5H97H=CB "HGGI6
DFC;F5AA9
:CFH<9BJ=FCBA9BHK=@@GIDDCFH9::CFHG:CFH<9=ADFCJ98=AD@9A9BH5H=CB5B8
=BH9;F5H=CB C: 9BJ=FCBA9BH5@ C6>97H=J9G =B H<9 =C8=J9FG=HM H<9A9  ,<=G K=@@
=B7@I89H<989J9@CDA9BHC:69GHDF57H=79G:CFK=89F6=C8=J9FG=HM7<5@@9B;9G
K<=@9?99D=B;=HG:C7IGCB'5HIF5 B=B7F95G98:C7IGCBH<9BJ=FCB

A9BH5@ CJ9FB5B795B8"B:CFA5H=CBH<9A9K=@@DFCACH9?BCK@98;9G<5F=B;
8=GG9A=B5H=CBC:69GHDF57H=79G =B588=H=CBHC5K5F9B9GGF5=G=B;75AD5=;BG
,<9GI6
DFC;F5AA9:CF@=A5H97H=CBK=@@GIDDCFH9::CFHGCB@=A5H9<5B;9
85DH5H=CBH<5HK=@@:C7IGCB=B7F95G=B;F9G=@=9B79HC7@=A5H97<5B;9
EB?CD1BC =G 5 DFC;F5AA9 IB89F -*$ H<5H =G 5J5=@56@9 HC +&G H<5H
FIB*57H=J=H=9G "H:IB8G7C@@56CF5H=J9*DFC>97HG =BK<=7<5H@95GHHKC
D5FHB9FG89J9@CD5B9KH97<BC@C;MCF5B9KDFC8I7H
1(4*;)A&,(167,/',1*57%/,&4,8$6($461(45+,3(
>5B7I 56K395>D 2E9<49>7C 5 81C 1 K>1>391< 5>F5<?@5 ?6 P  29<<9?> D?
6CCGH H<9 7CBGHFI7H=CB G97HCF 5B8 5=AG HC DFCACH9 ;F99B H97<BC@C;=9G
1>4D8545F5<?@=5>D?65>5B7I56K395>DCICD5=C1>4=1D5B91<C9>>5G1>4
F9BCJ5H986I=@8=B;G ,<=G=GK=H<5J=9KHCF58=75@@MF98I7=B;H<9=F9B9F;M
3?>CE=@D9?> 1>4 ' 5=9CC9?>C
 +85 @B?7B1==5 9C K>1>354 :?9>D<I 2I
=B8IGHFM 5B8 H<9 IFCD95B CAA=GG=CB IB89F H<9 +9J9BH< F5A9KCF?
)FC;F5AA9 :CF *9G95F7< )  ,<=G F9G95F7< DFC;F5AA9 GH5FH98 =B #I@M
 5B8=G=AD@9A9BH986M *9G95F7<5B8"BBCJ5H=CB  B9F;M5B8
 "B:CFA5H=CB+C7=9HM5B8&98=5 5@@G:CFDFCDCG5@GK9F9@5IB7<98=B#I@M
  5B8<5J9699B@5IB7<98957<#I@MIBHC 



)#-%
+&)

(*,!$-!'**%&!&-, '*!,!+

')&)$$*) '+ &%


+85*=1BD9D95C1>4?==E>9D95C >9D91D9F5?6D85,
,<=G =B=H=5H=J9 GIDDCFHG 7=H=9G 5B8 F9;=CBG =B H5?=B; 5A6=H=CIG A95GIF9G
HC DFC;F9GG HCK5F8G 5   F98I7H=CB C: ;F99B<CIG9 ;5G 9A=GG=CBG 6M
  H<FCI;<H<9GIGH5=B56@9IG95B8DFC8I7H=CBC:9B9F;M ,<9-<5G
5@@C75H98ZA=@@=CB:CF IB89FH<=G=B=H=5H=J9HCGIDDCFHH<989ACB

GHF5H=CBC:9B9F;M HF5BGDCFH5B8=B:CFA5H=CB5B87CAAIB=75H=CBH97<BC@C

;=9G=BIF65B5F95G
+85 9?49F5BC9DI +538>931< CC9CD1>35 ,>9DC +, DFC>97H G99?G HC
8=F97H7CAA9F7=5@@C5B:IB8=B;5B8DI6@=7GI6G=8=9GHC7F95H9CF89J9@CD
@B?KD12<5=93B?C=1<<1>4=549E=5>D5B@B9C5CG8938=19>D19>?B5>81>35
6=C8=J9FG=HM  ,97<B=75@ GG=GH5B79 -B=HG <5J9 699B 7F95H98 =B I@;5F=5 
!IB;5FM 5B8 )C@5B8 HC 5GG=GH K=H< H<9 89J9@CDA9BH C: 4)FC
=C8=J9FG=HM
IG=B9GG9G=B957<C:H<9G97CIBHF=9G ,<9,-DFC>97H:C7IG9GCBH<CG9
5F95GC:B5HIF9H<5H<5J9699BF97C;B=G985G<5J=B;<=;<J5@I95B85F9
=B7@I898=BH<9',-* B9HKCF?
+85 EC9>5CC 1>4 9?49F5BC9DI  5=AG HC G9H ID 5B8 CD9F5H9 H<9
CB@=B9D@5H:CFA=B7@I8=B;H<97C@@97H=CB5B8DF9D5F5H=CBC:ID
HC
85H9=B:CF

F
=1D9?>?>;>?G 8?G1>425CD@B13D935C
+89C9CG9D81F95GD?
57=@=H5H=B; 8=G7IGG=CB 5B8 7CCD9F5H=CB 69HK99B GH5?9<C@89FG 5B8
5>81>39>72EC9>5CC1>4K>1>391<C53D?B5>7175=5>D

)#-%
+&)

(

"''(.,"('
(+1+,&
+-))(*,
+-+,"'%
'* 1

 :FFB

75 7GDAB3 7G

7@7D9K
F75:@A>A9K
;@;F;3F;H7E

E?3DF25;F;7E27@ :F?

 %AD7;@8AD?3F;A@;E

3H3;>34>7A@,-I74E;F7
:FFB

E?78AD4;A6;H7DE;FK 7G

 %AD7;@8AD?3F;A@
;E3H3;>34>7A@:FFB

III
G@6B6DB AD9

)F9D5F=B;G97HCF5@;I=85B798C7IA9BHGCB6IG=B9GG=BJC@J9A9BH
9J9@CD=B; 7@95F HCC@G =B8=75HCFG HC A95GIF9 6=C8=J9FG=HM =AD57HG
25>5KDC1>4
F95H=B; 5B -  5K5F8 G7<9A9 HC 57?BCK@98;9 CIHGH5B8=B;
D9F:CFA5B79
,>9D54%1D9?>C5F5<?@=5>D'B?7B1=,%'1>49DC<?21<>F9B?>
=5>D139<9DI1>E25)579?>1<'B?:53D)'G99?GHC=ADFCJ9
H<99BJ=FCBA9BHC:H<95BI69*=J9F5G=B DFCH97H=HGK5H9FG5B8GIGH5=B

12<I=1>1759DC>1DEB1<B5C?EB35C6?BD8525>5KD?69DC>1DEB51>4@5?@<5

,<9*)<9@DG7CIBHF=9G5@CB;H<=GF=J9FHC=AD@9A9BHH<95BI69*=J9F
)FCH97H=CBCBJ9BH=CBDF=A5F=@MH<FCI;<F98I7=B;BIHF=9BH5B8HCL=7DC@@I

H=CB 5B8 GHF9B;H<9B=B; HF5BG


6CIB85FM 7CCD9F5H=CB =B H<=G ACGH =BH9FB5

H=CB5@ F=J9F 65G=B  ,<FCI;< =HG D5FHB9FG<=DG K=H< ;CJ9FBA9BHG  =B8IGHFM


&'C1>4<?31<3?==E>9D95CD85)(@B?F945C2?D8D538>931<1>4K>1>

7=5@GIDDCFH "H5@GC<5GGCD<=GH=75H98DI6@=7D5FH=7=D5H=CB5B87CAAIB=75

H=CBGGHF5H9;M K<=7<9BGIF9GH<5H5@@5BI69GH5?9<C@89FG5F9?9DH5K5F9
?6B5<5F1>D9CCE5C1>431>B5L53DD859B3?>35B>C9>1@@B?@B91D513D9?>

,<9*)=GD5FHC:H<9A=@@=CB +HF5H9;=7)5FHB9FG<=D:CF'IHF=9BH
*98I7H=CB=BH<95BI695B8@57?+955G=B ,<=G=GCB9C:H<9 G
@5F;9GH  5B8 D9F<5DG ACGH 5A6=H=CIG  K5H9F
F9@5H98 DFC>97HG  ,<9 
)5FHB9FG<=DGIDDCFHGH<9;C5@C:H<9CAA=GG=CB:CFH<95BI695B8@57?
+95HCF98I79BIHF=9BH5B8HCL=7@C58GHC9B56@9H<9@57?+95G97CGMG

H9AGHCF9
5HH5=BH<9@9J9@G5B87CB8=H=CBGH<5H9L=GH98=BH<9 G
%1D9?>1<*ECD19>12<55F5<?@=5>D >9D91D9F5C1>475>41 BCFA5@@M
7CJ9FH<9HCD=7GC:6=C8=J9FG=HM5B8B5HIF5@F9GCIF797CBG9FJ5H=CB &IB=7=

D5@=H=9GH<FCI;<CIH-<5J958CDH98@C75@;9B85DFC;F5AA9G6IH
H<9F95F97CBG=89F56@98=::9F9B79G69HK99B&9A69F+H5H9G 5G@9J9@GC:
=BJC@J9A9BH=B957<7CIBHFMF5B;9:FCA HCC:H<9HCH5@BIA69F



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

(

"''(.,"('

')&)$$*) '+ &%

(+1+,&
+-))(*,

C:AIB=7=D5@=H=9G ,<9G9DFC;F5AA9GDFCJ=895GC@=865G=G:CFH<95B5@MG=G
5B8D@5BB=B;C:57H=J=H=9G:C7IG98CB97CGMGH9AGDFCH97H=CB

+-+,"'%
'* 1

+85EB?@51>>5B7I 'B?7B1==56?B)53?F5BI<5G5@@C75H985FCIB8
Z6=@@=CBHC5F6CB5DHIF9+HCF5;989ACBGHF5H=CB5B8ZA=@@=CBHC
'66C8?B5 .9>4 45=?>CDB1D9?> 8DD@ 53
5EB?@1
5E 5>5B7I 55@B 9>45H/
9B <HA
+85)5C51B38E>46?B?1<1>4*D55<)*GIDDCFHGF9G95F7<DFC>97HG
=B H<9 7C5@ 5B8 GH99@ G97HCFG  ACB;GH CH<9F 5GD97HG  H<9G9 DFC>97HG
DFCACH9 9BJ=FCBA9BH5@ DFCH97H=CB 5B8 H<9 F98I7H=CB C: ( 9A=GG=CBG
:FCA 7C5@ IG9 5B8 GH99@ DFC8I7H=CB   HCH5@ C: Z A=@@=CB D9F M95F =G
A5895J5=@56@9HCIB=J9FG=H=9G F9G95F7<79BHF9G5B8DF=J5H97CAD5B=9GHC
K>1>35@B?:53DCD81D1B5B5<5F1>DD?D856E>4C?2:53D9F5C

"+(

71',1*42*4$00(71'(46+(?589ACBGHF5

H=CB GIDDCFH =B=H=5H=J9  DFCJ=89G GI6GH5BH=5@ :IB8=B; :CF H<9 @5F;9


G75@9
89ACBGHF5H=CBC:@CK75F6CB9B9F;MH97<BC@C;=9G=BIFCD95B8=H=G5@GC
H<9KCF@8G@5F;9GHDFC;F5AA9=BH<=G5F95


 :FFB

75 7GDAB3
7G
39D;5G>FGD7
4;A7@7D9K

;@67J27@ :F?

+8 
+85?==?>7B93E<DEB1<'?<93I'
 9 <D
< ' <9 ' GIDDCFHG6CH<H<9GIDD@MC:
6 < <
@ :
6=C
9B9F;M:FCA5;F=7I@HIF95B8:CF9GHFM 5GK9@@5GH<9IG9C:6=C
9B9F;M
CB:5FAG5B8=BFIF5@5F95G
+85EB?@51> >F5CD=5>D1>;C::9FG@C5BG=BJ5F=CIG:CFA5HGHCGIDDCFH
9B9F;M=BJ9GHA9BHGH<5H89D9B8CBDFC>97HG=N95B875H9;CFM ,<9@9B8=B;
H5F;9H:CF49B9F;MK5GG9H5HZ6=@@=CB:CF 5B8 



)#-%
+&)

(*,!$-!'**%&!&-, '*!,!+

$!+,'*.!,!'&+
,<95@H=77C
B9F;M@IGH9F
)

,<9CAACB;F=7I@HIF5@)C@=7M



?CD 25>5KD1>1<IC9C



,<9C<9G=CBIB8

)

,<9CAACB=G<9F=9G)C@=7M

!

&9H<5B9

(

5F6CB8=CL=89

+

,<9CAACB+HF5H9;=7F5A9KCF?

+*

CFDCF5H9+C7=5@*9GDCBG=6=@=HM



F58@9HCF58@9

* ,<9IFCD95B;F=7I@HIF5@IB8:CF*IF5@9J9@CDA9BH
7C) ,<97C
=BBCJ5H=CB7H=CB)@5B
'*/9BHF9:CFA5BI:57HIF=B;+&G=BH<9'CFH<*<=B9
/9GHD<5@=5
&+ ,<9IFCD95B7C
&5B5;9A9BH5B8I8=H+7<9A9
& ,<9IFCD95B&5F=H=A95B8=G<9F=9GIB8
* ,<9IFCD95B*9;=CB5@9J9@CDA9BHIB8
+( B9F;M+9FJ=79CAD5BM
+

,<9IFCD95B+C7=5@IB8

,)

BJ=FCBA9BH5@,97<BC@C;=9G7H=CB)@5B

-

,<9IFCD95B-B=CB

"+

 9C;F5D<=7"B:CFA5H=CB+MGH9A

))

 F99B)I6@=7)FC7IF9A9BH

 =;5K5HH

",

"B:CFA5H=CB5B8CAAIB=75H=CB,97<BC@C;=9G

")

,<9"BGH=HIH9:CFIFCD95BBJ=FCBA9BH5@)C@=7M

"%(

,<9"BH9FB5H=CB5@%56CIF(F;5B=G5H=CB

"&)

,<9"BH9;F5H98&5F=H=A9)C@=7M

"+(

,<9"BH9FB5H=CB5@(F;5B=G5H=CB:CF+H5B85F8=N5H=CB

"-' ,<9"BH9FB5H=CB5@-B=CB:CFH<9CBG9FJ5H=CBC:'5HIF9
#"

#C=BH"AD@9A9BH5H=CB

?/<

$=@CK5HH
<CIF



&%%+ %*$)+%*,*+ %#)&.++)&,*$)+*' # *+ &%

&

&5B5;=B;IH<CF=HM

& &I@H=
F=H9F=5B5@MG=G
&+

&9A69F+H5H9

&/

&9;5K5HH

&

&CB=HCF=B;5B8J5@I5H=CB

' ( 'CB
CJ9FBA9BH5@(F;5B=G5H=CB
'"+) ,<9'5H=CB5@"B8IGHF=5@+MA6=CG=G)FC;F5AA9
'*/ 'CFH<*<=B9
/9GHD<5@=5
( ,<9(F;5B=G5H=CB:CF7CBCA=7C
CD9F5H=CB5B89J9@CDA9BH
()

(D9F5H=CB5@)FC;F5AA9

()" ,<9(D9F5H=CB5@)FC;F5AA9BH9FDF=G95B8"BBCJ5H=CB
)

)5FH=7=D5HCFMDDF5=G5@

*

,<9*9;=CB5@BJ=FCBA9BH5@9BH9F:CF9BHF5@5B85GH9FBIFCD9

*"+

*9G95F7<5B8"BBCJ5H=CB+HF5H9;M:CF+A5FH+D97=5@=G5H=CB

*," *9G95F7< ,97<BC@C;=75@9J9@CDA9BH"BBCJ5H=CB


*

*9G95F7<5B89J9@CDA9BH

*"

*9G95F7<5B8"BBCJ5H=CB

+,
)@5B,<9IFCD95B+HF5H9;=7B9F;M,97<BC@C;M)@5B
+&

+A5@@5B8&98=IA
G=N98BH9FDF=G9

, ,<97CBCA=7GC:7CGMGH9AG5B8=C8=J9FG=HM
,$+,<9=BB=G<IB8=B;;9B7M:CF,97<BC@C;M5B8"BBCJ5H=CB
,'

,<9'5HIF9CBG9FJ5B7M

-') ,<9-B=H98'5H=CBGBJ=FCBA9BH)FC;F5AA9
-+

,<9-B=H98+H5H9GC:A9F=75

Anda mungkin juga menyukai