05#7)) ,+8/+1#- 9*18%/4):; 1-)

105
Þ.À.ÁÅËÜ×ÈÊΠÌ.Â.ÃÎÐÁÀÍÅÂÑÊÈÉ È.Â.ÆÀÐÊΠÌÅÒÎÄÈ×ÅÑÊÈÅ ÐÅÊÎÌÅÍÄÀÖÈÈ ÏÎ ÂÎÏÐÎÑÀÌ ËÈÍÃÂÈÑÒÈ×ÅÑÊÎÉ ÝÊÑÏÅÐÒÈÇÛ ÑÏÎÐÍÛÕ ÒÅÊÑÒΠÑÌÈ Ñáîðíèê ìàòåðèàëîâ ÔÅÄÅÐÀËÜÍÀß ÑËÓÆÁÀ ÏÎ ÍÀÄÇÎÐÓ Â ÑÔÅÐÅ ÑÂßÇÈ, ÈÍÔÎÐÌÀÖÈÎÍÍÛÕ ÒÅÕÍÎËÎÃÈÉ È ÌÀÑÑÎÂÛÕ ÊÎÌÌÓÍÈÊÀÖÈÉ (ÐÎÑÊÎÌÍÀÄÇÎÐ) ÃÈËÜÄÈß ËÈÍÃÂÈÑÒÎÂ-ÝÊÑÏÅÐÒΠÏÎ ÄÎÊÓÌÅÍÒÀÖÈÎÍÍÛÌ È ÈÍÔÎÐÌÀÖÈÎÍÍÛÌ ÑÏÎÐÀÌ Ìîñêâà 2010

Upload: others

Post on 18-Dec-2021

0 views

Category:

Documents


0 download

TRANSCRIPT

!"#"$%&'()*+,-",".+/$#0%,1*)2

)","3#/*+,

-%4+5)(%1*)%6/%*+-%05#7))8+6,+8/+1#-

&)0.,)14)(%1*+269*18%/4):;18+/0;<64%*14+,61-)

1=>?@AB6CDEF?ADG>H

!"#"$%&'(%)*+&,-.%*/0*(%#10$,*2*+!"$"*+2)1343(!0$5%630((78*9"8(0&0:3;*3*5%++0278*<055,(3<%63;

=$0+<05(%#10$>

:3&'#3)* &3(:23+902?@<+/"$902*/0*#0<,5"(9%630((75*3*3(!0$5%630((75*+/0$%5

5ABCDEFGHG

I

1$+/0

)*6

-#4

%/)#&

+,

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

00#$$1'(&-2

0&&3$41'3$5%6

789:;<=$>?9@?A?BC=;?$>?$8:D:8E$F=9=G:CH;?I$JCEKLM$$>?$;:98?GE$B$JN=G=$JBO8<3

<;N?GP:Q<?;;MR$A=R;?C?@<I$<$P:JJ?BMR$D?PPE;<D:Q<I

,S?JD?P;:98?G/

S=D?P=;9?B:;?$D$>=T:A<$U:ET;?VP=A?9<T=JD<P$J?B=A?P$>G<$>G:BC=;<<$4<CH9<<

C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?G:P

,SXX$4YZ"7[/

#??G9<;:A?GM$<89:A=CHJD?@?$>G?=DA:\

?A$S?JD?P;:98?G:$]$!"#"!$%#&$%3

<(?($;:T:CH;<D:$!>G:BC=;<O$D?;AG?CO$<$;:98?G:

B$JN=G=$P:JJ?BMR$D?PPE;<D:Q<I^

?A$SXX$4YZ"7[$]$'"%"($)*+!,%-&#.3

>G=9J=9:A=CH$>G:BC=;<O$@<CH9<<(

_BA?GMVJ?JA:B<A=C<\

9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G$`(_(0=CHT<D?B3

9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G$a(b(4?GL:;=BJD<I

D:;9<9:A$N<C?C?@<T=JD<R$;:ED$7(b(5:GD?B(

0&&3$41'3$5%6 !"#$%&'()*+,-,.*/(0123")4'&5*6,7,.*820'()*9,7,*a=A?9<T=JD<=$G=D?V

P=;9:Q<<$ >?$ B?>G?J:P$ C<;@B<JA<T=JD?I$ WDJ>=GA<8M$ J>?G;MR$ A=DJA?B

[a7\$[L?G;<D$P:A=G<:C?B($]$a(\$7c#$d7;N?GPD;<@:e3$+2-2$@($]$+2*$J(

#;<@:$>G<8B:;:$>?P?TH$J?AGE9;<D:P$G=@<?;:CH;MR$E>G:BC=;<I$S?JV

D?P;:98?G:$B$<J>?CH8?B:;<<$?>MA:$<$8;:;<I$J>=Q<:C<JA?B$>?$C<;@B<JA<V

T=JD<P$WDJ>=GA<8:P$9CO$BMOBC=;<O$<$DB:C<N<D:Q<<$A:D<R$A=DJA?B$>=T:AV

;MR3$WN<G;MR$<$WC=DAG?;;MR$[a73$B$D?A?GMR$P?@EA$J?9=GK:AHJO$JC?B=JV

;M=$ >G<8;:D<$ G:8K<@:;<O$ P=K;:Q<?;:CH;?I$ <$ P=KD?;N=JJ<?;:CH;?I

BG:K9M3$WDJAG=P<8P:3$?JD?GLC=;<O3$DC=B=AM$<$<;?@?$8C?E>?AG=LC=;<O$JB?V

L?9?I$P:JJ?B?I$<;N?GP:Q<<(

789:;<=$P?K=A$A:DK=$>G=9JA:BCOAH$<;A=G=J$9CO$J?AGE9;<D?B$?G@:;?B

>G?DEG:AEGM3$F[03$ab"3$G=9:DQ<I$[a73$JE9=I3$:9B?D:A?B3$WDJ>=GA?B3

9CO$>G=>?9:B:A=C=I$<$JAE9=;A?B$N:DECHA=A?B$N<C?C?@<<3$KEG;:C<JA<D<$<

fG<J>GE9=;Q<<$G?JJ<IJD<R$BE8?B(

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

00#$$1'(&-2

ghij$)'*V6V)2%)-%V2%V)

k$0=CHT<D?B$`(_(3$4?GL:;=BJD<I$a(b(3$5:GD?B$7(b(3$+2-2$@(

k$4?GL:;=BJD<I$a(b(3$<9=O$<$D?;Q=>Q<O3$+2-2$@(

k$SXX$4YZ"7[3$+2-2$@(

1>JF?KD@AF

:0";&4#()&" (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 6

<24=$*>, ?&3@)&4=&%"4'2A*B'4C"0=&D2*4C(03EF*="'4=()G

(1H&"*)(C0(4E*="(0&&*&*C02'=&'& ((((((((((((((((((((((((((((((((((((( --

-(-(l cG:B?B:O$?J;?B:$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA< ((((((( --

-(+(l a=A?9<T=JD<=$?J;?BM$JE9=L;?VWDJ>=GA;?@?

C<;@B<JA<T=JD?@?$<JJC=9?B:;<O (((((((((((((((((((((((((((((((((((((((( %-

-(%(l b<9M$C<;@B<JA<T=JD?@?$<JJC=9?B:;<O$B$G:PD:R

JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<((((((((((((((((((((((((((((((((((((( %6

-(&(l cG<C?K=;<=($cG<D:8$a<;<JA=GJAB:$fJA<Q<<$SF$?A

)$P:GA:$+221$@($?$>=G=T;=$G?9?B$,B<9?B/$WDJ>=GA<8( ((((((((( &+

<24=$*I, 6"=(;&%"4'&"*0"'(J"3;2K&&*C(*C(;@(=()'"*4(=0L;3&'(J

M(4'(J32;D(02*D2C0(42*4C"K&2#&4=2JN#&3@)&4=2J

(*C0";)20&="#$3(J*232#&D"*4C(03(@(*="'4=2 ((((((((((((((((((((( 62

+(-(l XJ;?B;M=$J?B=AM (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( 62

+(+(l cG<P=G\$J>?G;:O$>ELC<D:Q<O ((((((((((((((((((((((((((((((((((((((((((( 66

+(%(l cG<P=G\$8:>G?J$E>G:BC=;<O$S?JD?P;:98?G: (((((((((((((((((((( 6*

+(&(l cG<P=G\$?AB=A$WDJ>=GA;?I$?G@:;<8:Q<<((((((((((((((((((((((((((( 6)

+(6(l cG<P=G\$J>?G;MI$A=DJA$C<JA?BD< (((((((((((((((((((((((((((((((((((( 1-

+(1(l cG<P=G\$8:>G?J$JC=9?B:A=CO$E>G:BC=;<O$F[0 (((((((((((((((( 1+

+('(l cG<P=G\$?AB=A$WDJ>=GA;?I$?G@:;<8:Q<<((((((((((((((((((((((((((( 1&

+(*( cG<P=G$A<>?B?@?$9?@?B?G:$E>G:BC=;<O

S?JD?P;:98?G:$J$WDJ>=GA;?I$?G@:;<8:Q<=I

?$;:ET;MR$D?;JECHA:Q<OR (((((((((((((((((((((((((((((((((((((((((((((((((( 11

<24=$*O, 6"=(;&%"4'&"*0"'(J"3;2K&&*C(*C(;@(=()'"*4(=0L;3&'(J

M(4'(J32;D(02*J2="0&2#()*;#A*C0()";"3&A*B'4C"0=3(@(

#&3@)&4=&%"4'(@(*&44#";()23&A ((((((((((((((((((((((((((((((((((((((((( '-

%(-(l XJ;?B;M=$J?B=AM (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( '-

%(+( cG<P=G$A<>?B?@?$9?@?B?G:$E>G:BC=;<O

S?JD?P;:98?G:$J$WDJ>=GA;?I$?G@:;<8:Q<=I ((((((((((((((((((((( '&

<24=$*P, Q'4C"0=3E"*#&3@)&4=&%"4'&"*&44#";()23&A*4C(03EF

="'4=()*R69*C(*4=,*IST.*ISI*UV*MW*&**WX*Y*>>P*MW (((((( ')

&(-(l m:G:DA=G<JA<D:$WDJ>=GA<8$>?$9:;;?I$D:A=@?G<<$9=C (((((( ')

&(+(l S=D?P=;9E=PMI$J><J?D$A<>?BMR$B?>G?J?B (((((((((((((((((((((( )-

&(%(l cG<P=G\$J>?G;:O$>ELC<D:Q<O (((((((((((((((((((((((((((((((((((((((((((( )%

&(&( cG<P=G\$>G=9E>G=K9=;<=3$BM;=J=;;?=$G=9:DQ<<

?G@:;:P<$>G?DEG:AEGM (((((((((((((((((((((((((((((((((((((((((((((((((((((( ))

L

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-)

M

1$+/0

)*6

-#4

%/)#&

+,

8?FJANG>HAF

[C?B?P$P?K;?$EL<AH3$JC?B?P$P?K;?$J>:JA<3

[C?B?P$P?K;?$>?CD<$8:$J?L?I$>?B=JA<(

[C?B?P$P?K;?$>G?9:AH3$<$>G=9:AH3$<$DE><AH3

[C?B?$P?K;?$B$G:8On<I$JB<;=Q$>=G=C<AH(

%/0123456758"39:;<3="

SEJJD<I$O8MD$B$J??AB=AJAB<<$J$#?;JA<AEQ<=I$S?JJ<IJD?I$F=9=G:V

Q<<$]$@?JE9:GJAB=;;MI$O8MD$S?JJ<IJD?I$F=9=G:Q<<$;:$BJ=I$=o$A=GG<V

A?G<<($[A:AEJ$GEJJD?@?$O8MD:$D:D$@?JE9:GJAB=;;?@?$O8MD:$S?JJ<IJV

D?I$F=9=G:Q<<$?>G=9=CO=A$?LO8:A=CH;?JAH$=@?$<J>?CH8?B:;<O$B$JN=V

G:R3$?>G=9=Co;;MR$F=9=G:CH;MP$8:D?;?9:A=CHJAB?P\$p:D?;?P$S?JJ<IV

JD?I$F=9=G:Q<<$?A$+6$?DAOLGO$-))-$@?9:$q$-*2'-$dX$O8MD:R$;:G?9?B

S?JJ<IJD?I$F=9=G:Q<<e3$F=9=G:CH;MP$p:D?;?P$S?JJ<IJD?I$F=9=G:V

Q<<$dX$@?JE9:GJAB=;;?P$O8MD=$S?JJ<IJD?I$F=9=G:Q<<e$?A$-$<f;O$+226

@?9:$q$6%Fp3$<;MP<$;?GP:A<B;MP<$>G:B?BMP<$:DA:P<$S?JJ<IJD?I

F=9=G:Q<<3$=@?$8:n<AE$<$>?99=GKDE3$:$A:DK=$?L=J>=T=;<=$>G:B:$@G:KV

9:;$S?JJ<IJD?I$F=9=G:Q<<$;:$>?CH8?B:;<=$@?JE9:GJAB=;;MP$O8MD?P

S?JJ<IJD?I$F=9=G:Q<<($SEJJD<I$O8MD$K<B=A$B$G=T<$GO9?BMR$;?J<A=V

C=I$O8MD:3$B$A=DJA:R$C<A=G:AEG;MR$>G?<8B=9=;<I3$B$?N<Q<:CH;?V9=C?V

BMR$ 9?DEP=;A:R3$ B$ JG=9JAB:R$ P:JJ?B?I$ <;N?GP:Q<<($ p:n<A:$ <$ >?9V

9=GKD:$GEJJD?@?$O8MD:$D:D$@?JE9:GJAB=;;?@?$O8MD:$S?JJ<IJD?I$F=9=V

G:Q<<$J>?J?LJABEfA$>G<EP;?K=;<f$<$B8:<P??L?@:n=;<f$9ER?B;?I

DECHAEGM$;:G?9?B$S?JJ<IJD?I$F=9=G:Q<<(

cG:BM$ A=$ J?BG=P=;;M=$ ETo;M=VGEJ<JAM3$ D?A?GM=$ @?B?GOA$ ?$ A?P3

TA?$GEJJD<I$O8MD$]$;:r=$;:Q<?;:CH;?=$9?JA?O;<=3$;?$;=$A:D?=3$D?A?V

G?=$P?K;?$>?C?K<AH$B$JE;9ED$<$CfL?B:AHJO$<P$BG=PO$?A$BG=P=;<3$?AV

G:K:O$;:r<$;:Q<?;:CH;M=$9?JA?<;JAB:3$O8MD$;=$P=;==$OGD?$>?D:8MV

B:=A$<$BJ=$;:r<$L=9M($bJo$L?CHr=$<$L?CHr=$Cf9=I$B$;:r=I$JAG:;=$]$?A

9=OA=C=I$;:ED<3$C<A=G:A?G?B$<$>=9:@?@?B$9?$P;?@<R$GO9?BMR$T<A:A=V

C=I3$G:9<?JCEr:A=C=I$<$A=C=8G<A=C=I$]$?L=J>?D?=;M$J?JA?O;<=P$<$JE9HV

L?I$GEJJD?@?$O8MD:($SEJJD:O$G=TH$B$ J?BG=P=;;?P$G?JJ<IJD?P$?Ln=V

JAB=3$D$ J?K:C=;<f3$ JA:C:$JC<rD?P$T:JAMP$<;JAGEP=;A?P$J?8;:A=CHV

;MR$,>?A?PE$]$?J?L=;;?$>?8?G;MR3$>G=JAE>;MR/$<$;=?J?8;:;;MR$;:V

&('(l cG<P=G\$8:DCfT=;<=$J>=Q<:C<JA?BVC<;@B<JA?B

>?$8:>G?JE$[?f8:$KEG;:C<JA?B$S?JJ<<(((((((((((((((((((((((((( -2+

<24=$*Z, Q'4C"0=3E"*#&3@)&4=&%"4'&"*&44#";()23&A

4C(03EF*="'4=()*R69*C(*4=,*>I[.*>OT*UV*MW (((((((((((((((( --2

6(-(l #G:AD:O$R:G:DA=G<JA<D:$WDJ>=GA<8$>?$9:;;?I

D:A=@?G<<$9=C (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( --2

6(+(l S=D?P=;9E=PMI$J><J?D$A<>?BMR$B?>G?J?B

WDJ>=GA:P (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( --1

6(%(l cG<P=G\$J>?G;:O$>ELC<D:Q<O ((((((((((((((((((((((((((((((((((((((((( --*

6(&(l cG<P=G\$8:OBC=;<=$?$B?8LEK9=;<<$E@?C?B;?@?$9=C: ((((( --)

6(6(l cG<P=G\$?>G=9=C=;<=$JE9:$?$;:8;:T=;<<

WDJ>=GA<8M (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( -+-

6(1(l cG<P=G\$8:>G?J$G=9:DQ<<$[a7$?$>G?B=9=;<<

C<;@B<JA<T=JD?@?$<JJC=9?B:;<O (((((((((((((((((((((((((((((((((((((( -+&

6('(l cG<P=G\$C<;@B<JA<T=JD?=$<JJC=9?B:;<=((((((((((((((((((((((((( -+6

<24=$*\, ]43()3E"*="0J&3E.*&4C(#$DL"JE"*)*B'4C"0=3EF

&44#";()23&AF*4C(03EF*="'4=() (((((((((((((((((((((((((((((((((((((( -%6

<24=$*^, ]43()3E"*4#()20&*0L44'(@(*ADE'2*&*&3="03"=N0"4L04E.

0"'(J"3;L"JE"*4(=0L;3&'2J*M(4'(J32;D(02 ((((((((((((((((( -&'

'(-( [C?B:G;:O$JA:AHO$A?CD?B?@?$JC?B:GO\

?Ln<=$JB=9=;<O ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( -&'

'(+( #G:AD<I$>=G=T=;H$J?BG=P=;;MR$A?CD?BMR$JC?B:G=I

,J$:;;?A:Q<OP</ (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( -6-

'(%(l [>G:B?T;?V<;N?GP:Q<?;;MI$>?GA:C$4G:P?A:(SE (((((((( -61

'(&(l c?C=8;M=$JC?B:G;M=$<;A=G;=AVG=JEGJM ((((((((((((((((((((((((( -6)

<24=$*S, ?&3@)&4=&%"4'&"*B'4C"0=&DE*&*&3="0C0"=2K&A.

&4=(#'()23&"*="'4=2*_@"0J"3")=&'2` ((((((((((((((((((((((((((((((( -12

<24=$*[, ]43()32A*32L%3(NJ"=(;&%"4'2A*#&="02=L02*C(*)(C0(42J

#&3@)&4=&%"4'(5*B'4C"0=&DE.*0"'(J"3;L"J2A*4(=0L;3&'2J

M(4'(J32;D(02*;#A*C()Ea"3&A*')2#&b&'2K&& (((((((((((((( -)2

<24=$*>T, /&#$;&A*#&3@)&4=()NB'4C"0=()*C(*;('LJ"3=2K&(33EJ*&

&3b(0J2K&(33EJ*4C(02J*_M]]*/?Qc9R` (((((((((((((((((((( +22

-2(-( XJ;?B;M=$Q=C<$<$8:9:T<$9=OA=CH;?JA<$@<CH9<< ((((((((((((( +22

-2(+( SED?B?9JAB?$@<CH9<<$<$==$Q=;AG:CH;MI$:>>:G:A((((((((((( +2+

-2(%( XJ;?B;M=$>:GA;=GM$@<CH9<< ((((((((((((((((((((((((((((((((((((((((((( +2+

-2(&( [><J?D$JELs=DA?B$SF3$B$D?A?GMR$G:L?A:fA

TC=;M$@<CH9<< (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( +2%

-2(6( b=LVJ:IA$@<CH9<<$B$J=A<$7;A=G;=A (((((((((((((((((((((((((((((((((( +2%

-2(1( S=DB<8<AM ((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( +2&

-2('( #?;A:DAM (((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( +2&

<24=$*>>, d"00&=(0&2#$3E"*(0@23E**M(4'(J32;D(02G

'(3=2'=3E"*="#"b(3E*&*2;0"42*B#"'=0(33(5*C(%=E ((((((( +26

O

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) /IJKLBMADLJ

P

1$+/0

)*6

-#4

%/)#&

+,

GEr=;<I$WA<T=JD<R$;?GP$<$AG:9<Q<I$S?JJ<<$<$P=K9E;:G?9;?@?$J??LV

n=JAB:3$@G:K9:;JD?@?$<$E@?C?B;?@?$8:D?;?9:A=CHJAB:3$8:DG=>C=;;MR

JA:AHOP<$J??AB=AJABEfn<R$D?9=DJ?B$SF(

aE9G?JAH$GEJJD?@?$;:G?9:3$<JD?;;?$AG=>=A;?$?A;?J<Br=@?JO$D$[C?V

BE3$ 8:DCfT=;:$B?$P;?@<R$>?JC?B<Q:R$<$>?@?B?GD:R($U=$ 8GO$@?B?GOA\

dtA?$;:><J:;?$>=G?P$]$;=$BMGEL<rH$A?>?G?Pe3$d[C?B?$;=$B?G?L=I3

BMC=A<A$]$;=$>?IP:=rHe($0=G=K;?=$<$TEAD?=$?LG:n=;<=$J?$JC?B?P$B?8V

;:@G:K9:=A$;=<JT=G>:=PMP$L?@:AJAB?P($U?$;=?JA?G?K;?=$<C<$;=EP=V

C?=$<J>?CH8?B:;<=$P?K=A$>G<;=JA<$?@G?P;Ef$L=9E$;=$A?CHD?$?DGEK:V

fn<P3$;?$<$J:P?PE$@?B?GOn=PE$<C<$><rEn=PE($b$J?BG=P=;;?I$S?JV

J<<$;:$BJ=R$EG?B;OR$J?Q<:CH;?I$K<8;<$?Ln=JAB:$J=@?9;O$DG=>;=A$>?V

;<P:;<=3$TA?$8:$JC?B:$;:9?$?AB=T:AH$;=$B$P=;Hr=I$P=G=3$T=P$8:$9=C:(

u=DJA3$G=T=BM=$>G?<8B=9=;<O$BJo$r<G=$<J>?CH8EfAJO$D:D$vwxyz{$|}~�v��3

A:D$D:D$B$;<R$ J?9=GK:AJO$>G<8;:D<$J?JA:B:$]$?Ls=DA<B;?I$JA?G?;M

>G=JAE>C=;<O3$ J?B=Gro;;?@?$>?JG=9JAB?P$[C?B:($7P=;;?$G=8ECHA:A

G=T=B?I$9=OA=CH;?JA<$]$G=T=B?=$>G?<8B=9=;<=$B$N?GP=$EJA;?@?$BMJD:V

8MB:;<O$<C<$><JHP=;;?@?$A=DJA:$]$OBCO=AJO$?J;?B;MP$?Ls=DA?P$JEV

9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M$<$DG<P<;:C<JA<T=JD?@?$<JJC=9?V

B:;<O3$;=>?JG=9JAB=;;?$>?9B=G@:=AJO$>G:B?B?I$DB:C<N<D:Q<<$9CO$EJV

A:;?BC=;<O$N:DA:$>G:B?;:GEr=;<O$<$?>G=9=C=;<O$JA=>=;<$=@?$?Ln=V

JAB=;;?I$?>:J;?JA<(

Y:A<;JD?=$<8G=T=;<=$�z{��v��$x}��wxz�$�z�|��}��z�3$<8B=JA;?=$D:KV

9?PE$9<>C?P<G?B:;;?PE$fG<JAE3$?LMT;?$>=G=B?9OA$A:D\$dcG:B?JE9<=$]

?J;?B:$@?JE9:GJAB:e($ZA?$PE9G?=$JEK9=;<=$]$>G:B9:($#:D$>G:B<CH;?$<

A?3$TA?$B$J?BG=P=;;?P$G:8B<A?P$J?Q<EP=$>G:B?JE9<=$��g$B=D:$;=B?8V

P?K;?$L=8$>G?N=JJ<?;:CH;MR3$A?T;MR$<$?Ls=DA<B;MR$WDJ>=GA<8$]$DG<V

P<;:C<JA<T=JD?I3$JE9=L;?VP=9<Q<;JD?I3$JE9=L;?V>J<R?C?@<T=JD?I3$C<;V

@B<JA<T=JD?I3$L=8$DG?>?AC<B?@?$AGE9:$T=JA;MR$<$?>MA;MR$WDJ>=GA?BV

>G?N=JJ<?;:C?B(

U:C<T<=$B$G?JJ<IJD?I$C<;@B<JA<D=$B=JHP:$JEn=JAB=;;?@?$?>MA:

>G?B=9=;<O$P;?@?T<JC=;;MR$C<;@B<JA<T=JD<R$WDJ>=GA<8$J>?G;MR$A=DV

JA?B3$?JEn=JABCO=PMR$>G?N=JJ<?;:CH;MP<$N<C?C?@:P<$ ,C<;@B<JA:V

P<VWDJ>=GA:P</3$B$T:JA;?JA<3$B$JBO8<$J$EB=C<T<B:fn<PJO$D?C<T=JAB?P

@G:K9:;JD<R$<JD?B$>?$ 8:n<A=$T=JA<3$9?JA?<;JAB:$<$9=C?B?I$G=>EA:V

Q<<3$E@?C?B;MR$9=C$>?$N:DA:P$?JD?GLC=;<O3$DC=B=AM3$G:8K<@:;<O$P=KV

;:Q<?;:CH;?I$<$P=KD?;N=JJ<?;:CH;?I$G?8;<3$>?$?LB<;=;<OP$B$WDJAV

G=P<JAJD?I$9=OA=CH;?JA<3$:GL<AG:K;MR$<JD?B$>?$8:n<A=$9=C?B?I$G=V

>EA:Q<<3$>?$J>?G:P$B?DGE@$A?CD?B:;<O$G:89=C?B$A=DJA?B$<$?A9=CH;MR

JC?B$<$ JC?B?J?T=A:;<I3$P?K=A$<$9?CK;?$r<G=$<J>?CH8?B:AHJO$A=P<

JAGEDAEG:P<3$D?A?GMP$@?JE9:GJAB?$>?GET<C?$?JEn=JABC=;<=$;:98?G:

8:$J?LCf9=;<=P$8:D?;?9:A=CHJAB:$B$JN=G=$[a73$B$>=GBEf$?T=G=9H$]

F=9=G:CH;?I$ JCEKL?I$ >?$ ;:98?GE$ B$ JN=G=$ JBO8<3$ <;N?GP:Q<?;;MR

A=R;?C?@<I$ <$ P:JJ?BMR$ D?PPE;<D:Q<I$ ,S?JD?P;:98?G?P/($ #:D$ ;:P

>G=9JA:BCO=AJO3$J?AGE9;<D:P$S?JD?P;:98?G:$;:$P=JA:R3$B$G=@<?;:R$SF3

JC=9?B:C?$LM$:DA<B;==$B8:<P?9=IJAB?B:AH$J$C<;@B<JA:P<VWDJ>=GA:P<

T=G=8$J<JA=PE$>?JA?O;;?@?$<$WNN=DA<B;?@?$>:GA;=GJAB:3$J?BP=JA;MR

J=P<;:G?B3$D?;N=G=;Q<I3$DGE@CMR$JA?C?B3$G?C=BMR$<@G3$:$ A:DK=$>?V

JA?O;;?$8:;<P:AHJO$J:P??LG:8?B:;<=P3$>?BMr=;<=P$>G?N=JJ<?;:CHV

;?I$DB:C<N<D:Q<<(

[B?f$G?CH$B$G=r=;<=$8:9:T<$J?B=Gr=;JAB?B:;<O$>G?N=JJ<?;:CHV

;MR$;:BMD?B3$8;:;<I$<$EP=;<I$J?AGE9;<D?B$S?JD?P;:98?G:$>G<8B:;?

B;=JA<$>?J?L<=$e6"=(;&%"4'&"*0"'(J"3;2K&&*C(*)(C0(42J*#&3@)&4=&N

%"4'(5*B'4C"0=&DE*4C(03EF*="'4=()*R69G*R1(03&'*J2="0&2#()f3$>?9V

@?A?BC=;;?=$:BA?GJD<P$D?CC=DA<B?P$ET=;MRVC<;@B<JA?B$4<CH9<<$C<;V

@B<JA?BVWDJ>=GA?B$ >?$ 9?DEP=;A:Q<?;;MP$ <$ <;N?GP:Q<?;;MP$ J>?V

G:P$,4YZ"7[/3$J?89:;;?I$B$+22-$@?9E$<$;:$>G?AOK=;<<$GO9:$C=A$OBCOV

fn=IJO$WNN=DA<B;MP$<$;:9=K;MP$>:GA;=G?P$S?JD?P;:98?G:(

#;<@:$da=A?9<T=JD<=$G=D?P=;9:Q<<$>?$B?>G?J:P$C<;@B<JA<T=JV

D?I$WDJ>=GA<8M$J>?G;MR$A=DJA?B$[a7\$[L?G;<D$P:A=G<:C?Be$BMR?V

9<A$B$JB=A$>?$<;<Q<:A<B=$!>G:BC=;<O$D?;AG?CO$<$;:98?G:$B$JN=G=$P:JV

J?BMR$D?PPE;<D:Q<I$S?JD?P;:98?G:3$GED?B?9<P?@?$!"#"!>?1@>?A2(

S=r:fnEf$G?CH$B$JE9HL=$WA?@?$P=A?9<T=JD?@?$<89:;<O$JM@G:C$GEV

D?B?9<A=CH$S?JD?P;:98?G:$ -58=5B3&>7CD/7D17>?1E3-1D71@>?3$ D?A?V

G?PE$:BA?GM$BMG:K:fA$<JDG=;;ff$LC:@?9:G;?JAH$8:$>?C=8;M=$J?B=V

AM$;:$BJ=R$WA:>:R$>?9@?A?BD<$>?J?L<O$<$9?LG?=$B;<P:;<=$D$<R$9=OV

A=CH;?JA<(

_BA?GM$ A:DK=$ >G<8;:A=CH;M$ 8:$ >?P?nH3$ >?CET=;;Ef$ ;:$ G:8;MR

WA:>:R$G:L?AM$?A$<8B=JA;MR$G?JJ<IJD<R$ET=;MRVN<C?C?@?B3$ET=;MRV

fG<JA?B$<$ WDJ>=GA?BVC<;@B<JA?B3$ JG=9<$D?A?GMR$;:P$R?A=C?JH$LM$B

>=GBEf$?T=G=9H$>?LC:@?9:G<AH\$9?DA?G:$N<C?C?@<T=JD<R$;:ED3$9?DV

A?G:$fG<9<T=JD<R$;:ED3$>G?N=JJ?G:$ ,F57G3#=>85?7G3(/FHI17G$ ,8:P(

8:B=9Efn=@?$D:N=9G?I$JE9=L;MR$WDJ>=GA<8$a?JD?BJD?I$@?JE9:GJAB=;V

;?I$fG<9<T=JD?I$:D:9=P<<$<$TC=;:$>G:BC=;<O$4YZ"7[/3$9?DA?G:$N<V

!"#$%$&'()*+,!$-#$./0&1$203454,3'(/'#$%',,62)&-)&0()*+,620%*)/'789:;<3,=4>4,8$2?0/)%-#'@4=0@,ABBC,D4

Q

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) /IJKLBMADLJ

R

1$+/0

)*6

-#4

%/)#&

+,

C?C?@<T=JD<R$;:ED3$>G?N=JJ?G:$%F/01218/3#FJ1E/3K5FJ?1C/$,>G?N=JV

J?G:$�G?JC:BJD?@?$@?JE9:GJAB=;;?@?$>=9:@?@<T=JD?@?$E;<B=GJ<A=A:

<P(#("(!r<;JD?@?/3$9?DA?G:$fG<9<T=JD<R$;:ED3$>G?N=JJ?G:3$>?CD?BV

;<D:$ab"$ '/81/77G3+7/D>FJ5?7G3&>EGL5B$ ,<;J>=DA?G:$_;A<A=GG?V

G<JA<T=JD?@?$Q=;AG:$@?JE9:GJABVET:JA;<D?B$[U4/3$9?DA?G:$N<C?C?V

@<T=JD<R$;:ED3$9?DA?G:$>=9:@?@<T=JD<R$;:ED3$>G?N=JJ?G:$M81H3,?=5N

7J5?1E/3O8>P>8>?/$,G=DA?G:$4?JE9:GJAB=;;?@?$<;JA<AEA:$GEJJD?@?$O8MV

D:$<P($_([($cErD<;:/3$D:;9<9:A:$fG<9<T=JD<R$;:ED3$>G?N=JJ?G:$+7/N

D>F1H3%/C1FJ5?1E/3OE5F17Q5?/$,@C:B;?@?$G=9:DA?G:$KEG;:C:$dS=C<@<O

<$>G:B?e3$8:P=JA<A=CO$>G=8<9=;A:$4<CH9<<$G?JJ<IJD<R$:9B?D:A?B/3$9?DV

A?G:$fG<9<T=JD<R$;:ED3$>G?N=JJ?G:$ '1P/1F/3+F5@C/708>?1E/3R50>N

D>?/$,J=DG=A:GO$[?f8:$KEG;:C<JA?B$S?JJ<<3$J?>G=9J=9:A=CO$0?CHr?V

@?$5fG<$[5S/(

b$G:L?A=$;:9$D;<@?I$da=A?9<T=JD<=$G=D?P=;9:Q<<$>?$B?>G?J:P

C<;@B<JA<T=JD?I$WDJ>=GA<8M$J>?G;MR$A=DJA?B$[a7\$[L?G;<D$P:A=V

G<:C?Be$:BA?G:P<VJ?JA:B<A=COP<$LMC$<J>?CH8?B:;$?>MA$4YZ"7[$>?

J?89:;<f$ <$ BM>EJDE$ B$ JB=A$ 9BER$ J>G:B?T;?VP=A?9<T=JD<R$ <89:;<I3

:BA?G?P$<9=<$<$P=A?9?C?@<T=JD?I$D?;Q=>Q<<$D?A?GMR$BMJAE><C$>G=9V

J=9:A=CH$>G:BC=;<O$4YZ"7[$>G?N=JJ?G$a(b($4?GL:;=BJD<I\$dc:POAD:

>?$B?>G?J:P$;:8;:T=;<O$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M\$"CO

JE9=I3$JC=9?B:A=C=I3$9?8;:B:A=C=I3$>G?DEG?G?B3$WDJ>=GA?B3$:9B?D:A?B

<$fG<JD?;JECHA?B$�$c?9$G=9($a(b($4?GL:;=BJD?@?e$,a(\$a=9=O3$+22&($]

-2&$J(/$<$d#:D$>G?B=JA<$C<;@B<JA<T=JDEf$WDJ>=GA<8E$J>?G;?@?$A=DJA:�

c:POAD:$9CO$JE9=I3$fG<JA?B$[a73$:9B?D:A?B3$>G?DEG?G?B3$JC=9?B:V

A=C=I3$9?8;:B:A=C=I$<$WDJ>=GA?B$�$c?9$G=9($a(b($4?GL:;=BJD?@?e$,a(\

`G<9<T=JD<I$a<G3$+221($]$--+$J(^$ J?BP=JA;?=$<89:;<=$J$F?;9?P$8:V

n<AM$@C:J;?JA<$B$J=G<<$d0<LC<?A=TD:$fG<JA:$[a7e/(

b$+22*]+22)$@@($TC=;M$4YZ"7[$>G?B=C<$B$a?JDB=$<$G=@<?;:R$S?JV

J<<$L?C==$+&2$<JJC=9?B:;<I$J>?G;MR$A=DJA?B$>=T:A;MR$<$WC=DAG?;;MR

[a7$>?$?>G=9=C=;<OP$JE9?B3$>?$>?JA:;?BC=;<OP$JC=9JAB=;;MR$?G@:V

;?B3$>?$8:>G?J:P$S?JD?P;:98?G:3$:9B?D:A?B$<$fG<JA?B$G=9:DQ<I3$N<V

8<T=JD<R$C<Q($#:D?B:$K=$A<>?C?@<O$D?;NC<DA?B3$B$D?A?GMR$>G?<8B?9<V

C:JH$JE9=L;:O$C<;@B<JA<T=JD:O$WDJ>=GA<8:�$[A:A<JA<D:$;=EP?C<P:\$D?V

C<T=JAB?$D?;NC<DA;MR$J<AE:Q<I3$D?C<T=JAB?$<JD?B$D$[a7$;=$EP=;HV

r:=AJO3$:$EB=C<T<B:=AJO($XL$WA?P$JB<9=A=CHJABE=A$;=$A?CHD?$;:r$?>MA3

A:D?BM$K=$<$9:;;M=$JCEKLM$P?;<A?G<;@:$F?;9:$8:n<AM$@C:J;?JA<(

u<>?C?@<O$D?;NC<DA?B3$>?$D?A?GMP$JA:C?$;=?LR?9<PMP$ET:JA<=

WDJ>=GA?BVC<;@B<JA?B3$?JA:C:JH$D$D?;QE$+22)$@?9:$>G<P=G;?$A?I$K=3

TA?$<$B$;:T:C=$+22*$@?9:\$?D?C?$62�$?Ln=@?$?Ls=P:$>?JAE>:fn<R$D

;:P$ 9CO$ :;:C<8:$ A=DJA?B$ >=T:A;MR3$ WN<G;MR$ <$ WC=DAG?;;MR$ [a73

P:A=G<:CM$ @G:K9:;JD<R$ <JD?B$ ?$ 8:n<A=$ T=JA<$ <$ 9?JA?<;JAB:($ cG<V

LC<8<A=CH;?$+2�$8:>G?J?B$JBO8:;?$J$<JD:P<$?$8:n<A=$9=C?B?I$G=>EA:V

Q<<3$WA?$;:R?9<AJO$B$D?P>=A=;Q<<$:GL<AG:K;MR$JE9?B($XD?C?$']*$�$]

P:A=G<:CM3$>?$D?A?GMP$PM$>G?B?9<P$JE9=L;Ef$C<;@B<JA<T=JDEf$WDV

J>=GA<8E3$?AB=T:O$;:$B?>G?J$?$;:C<T<<�?AJEAJAB<<$B$J>?G;MR$A=DJA:R

B=GL:CH;MR$>G<8;:D?B$9=O;<I3$?AB=AJAB=;;?JAH$>?$D?A?GMP$>G=9EJV

P?AG=;:$JA:AHOP<$-+)$,d#C=B=A:e/$<$-%2$,dXJD?GLC=;<=e/$!#$SF($[EV

n=JAB=;;?$BMG?JC?$]$9?$-*V+2�$]$$T<JC?$>?JA:;?BC=;<I3$?>G=9=C=;<I3

8:>G?J?B$?$>G?B=9=;<<$C<;@B<JA<T=JD?I$WDJ>=GA<8M$B$D?;A=DJA=$9=IV

JAB<O$JA:AH<$+*+$!#$SF$,db?8LEK9=;<=$;:Q<?;:CH;?I3$G:J?B?I$<C<

G=C<@<?8;?I$BG:K9Me/$<$p:D?;:$Fp$q--&$dX$>G?A<B?9=IJAB<<$WDJAV

G=P<JAJD?I$9=OA=CH;?JA<e(

p;:T<A=CH;?$ G=K=$ PM$ >G?B?9<P$ N?;?JD?><T=JD<=$ <JJC=9?B:;<O

,EJA:;:BC<B:O$<9=;A<T;?JAH$@?C?J:$N<@EG:;A:$>?$A?PE$<C<$<;?PE$9=CE3

<C<$K=$?>G=9=COO$>G<8;:D<$P?;A:K:3$N:CHJ<N<D:Q<<$:E9<?8:><J</3

:BA?G?B=9T=JD<=$<JJC=9?B:;<O$ ,JBO8:;;M=$J?$ J>?G:P<$B$?LC:JA<$:BV

A?GJD?@?$>G:B:3$ J$;:GEr=;<OP<$<;A=CC=DAE:CH;?I$J?LJAB=;;?JA<3$ J

>C:@<:A?P/3$>?$9?DEP=;A:Q<?;;MP$J>?G:P3$D?@9:$9CO$BM;=J=;<O$J>G:V

B=9C<B?@?$G=r=;<O$;EK;?$>?P?TH$JA?G?;:P$<C<$JE9E$dG:Jr<NG?B:AHe

<$>G?D?PP=;A<G?B:AH$JC<rD?P$PE9G=;?$<C<$>G?JA?$;=E9:T;?$JN?GV

PEC<G?B:;;MI$A=DJA$8:D?;:3$9?@?B?G:3$<;?@?$9?DEP=;A:(

XJEn=JABC=;;M=$ ;:P<$ 8:$ >?JC=9;<=$ @?9M$ WDJ>=GA;M=$ <JJC=9?B:V

;<O$>?9AB=GK9:fA$AG=B?K;Ef$8:D?;?P=G;?JAH\$>G<P=G;?$B$12�$A=R

D?;NC<DA?B$J$ET:JA<=P$[a73$>?$D?A?GMP$C<;@B<JA:P<$LMC<$<JJC=V

9?B:;M$J>?G;M=$A=DJAM$>ELC<D:Q<I3$A=C=V$<$G:9<?>=G=9:T3$D$J?K:C=V

;<f3$;=>G:BM$LMC<$KEG;:C<JAM($X;<$<J>?CH8?B:C<$B$JB?<R$JA:AHOR3

G=>?GA:K:R3$8:P=AD:R3$?T=GD:R$A:D<=$JC?B:3$D?A?GM=$J$?T=B<9;?JAHf

EP:COfA$T=JAH$<$9?JA?<;JAB?$N<8<T=JD<R$C<Q3$>?G?T:A$9=C?BEf$G=>EV

A:Q<f$fG<9<T=JD<R$C<Q3$B?8LEK9:fA$;:Q<?;:CH;Ef3$G:J?BEf$<C<$G=V

C<@<?8;Ef$BG:K9E3$>ELC<T;?$?JD?GLCOfA$Cf9=I$B$;=>G<C<T;?I$N?GV

P=($X9;:D?$9GE@:O$JA?G?;:$AG=B?K;?I$A=;9=;Q<<$J?JA?<A$B$A?P3$TA?$B

>G<P=G;?$B$&2�$D?;NC<DA?B3$9CO$G:8G=r=;<O$D?A?GMR$JE9:P<3$?G@:V

;:P<$JC=9JAB<O3$<;JA<AEA:P<$@G:K9:;JD?@?$?Ln=JAB:$LMC<$<;<Q<<V

G?B:;M$;=?LR?9<PM=$C<;@B<JA<T=JD<=$<JJC=9?B:;<O$J$>G<BC=T=;<=P

WDJ>=GA?B$4YZ"7[3$<JA<;:$?D:8MB:C:JH$;:$JA?G?;=$KEG;:C<JA?B3$>G=V

A=;8<<$D$D?A?GMP$>?$J?9=GK:;<f$J>?G;MR$A=DJA?B$?D:8MB:C<JH$L=JV

>?TB=;;MP<($U:$J:P?P$K=$9=C=3$D:D$;=G=9D?$>?D:8MB:C<$G=r=;<O$JEV

9?B3$BMB?9M$9?8;:B:A=C=I$<$JC=9?B:A=C=I3$WA<$;:9EP:;;M=$d9=C:e$>G=9V

JA:BCOC<$J?L?I$C<rH$;=?L?J;?B:;;M=$>?>MAD<$G=@<?;:CH;MR$WC<A3

R?8OIJABEfn<R$JELs=DA?B3$J<C?BMR$JAGEDAEG3$?A9=CH;MR$@G:K9:;$JB=V

JA<$JT=AM$J$;=E@?9;MP<$<C<$dTG=8P=G;?$:DA<B;MP<e$KEG;:C<JA:P<(

$[$T=P$WA?$ JBO8:;?�$c?$WD?;?P<T=JD<P$<$ J?Q<:CH;MP$>G<T<;:P

;=EDC?;;?$>?BMr:=AJO$d@G:9EJ$D?;NC<DA;?JA<e$B;EAG<$G?JJ<IJD?@?

?Ln=JAB:3$TA?$>G<$?AJEAJAB<<$P?G:CH;MR$>G=@G:93$?@G:;<T=;<I3$=JC<

R?A<A=3$9:K=$>?;OA<O$@G=R:$>G<B?9<A$D$BJ=9?8B?C=;;?JA<$J$?L=<R$JA?V

G?;$B$D?;NC<DA:R$]$D:D$B$9=C:R3$A:D$<$B$JC?B:R($X$J?LCf9=;<<$><J:;MR

ST

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-)

SS

1$+/0

)*6

-#4

%/)#&

+,

(DNEU6S"&A@VHANEAWFNBDX6YBNZF?EA[D6NZ>?@\]EFBNE>H^6>=_AF6H>Z?>N\6EF>?AA6A6Z?DBEABA

S"S"` 8?DH>HDX6>N@>HD6NaJF=@>bYBNZF?E@>cJFXEFGU@>NEA

S"S"S"` dFJF?DGU@\c6[DB>@6e+6V>NaJD?NEHF@@>c6NaJF=@>bYBNZF?E@>cJFXEFGU@>NEA6H6/>NNAcNB>c6dFJF?DfAAg

b$<;N?GP:Q<?;;?V>G:B?BMR$L:8:R$G?JJ<IJD?@?$8:D?;?9:A=CHJAB:

;:JT<AMB:fAJO$J=@?9;O$J?A;<$;?GP:A<B;MR$:DA?B$G:8C<T;?@?$EG?BV

;O3$G=@C:P=;A<GEfn<R$WDJ>=GA;Ef$9=OA=CH;?JAH($p;:T<A=CH;MP$J?V

LMA<=P$B$WDJ>=GA;?P$9=C=3$;=J?P;=;;?3$JA:C$N=9=G:CH;MI$8:D?;$q'%V

Fp$dX$@?JE9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<$B$S?JJ<IJV

D?I$F=9=G:Q<<e$?A$%-$P:O$+22-$@?9:(

!D:8:;;MI$J<JA=P;MI$:DA$B>=GBM=$A:D$T=AD?$<$;:$JA?CH$BMJ?D?P

EG?B;=$?>G=9=C<C$>G:B?BEf$?J;?BE3$>G<;Q<>M$?G@:;<8:Q<<$<$?J;?B;M=

;:>G:BC=;<O$ JE9=L;?VWDJ>=GA;?I$ 9=OA=CH;?JA<$ ,[Z"/$ D:D$ J:P?V

JA?OA=CH;?@?$B<9:$J?Q<:CH;?$ >?C=8;?I$9=OA=CH;?JA<$B$@G:K9:;JD?P3

:9P<;<JAG:A<B;?P$<$E@?C?B;?P$JE9?>G?<8B?9JAB=($b$WA?P$K=$8:D?;=

8:DG=>C=;M$>G<;Q<>M$<$>G:B?BM=$?J;?BM$[Z"3$<JA?G<T=JD<$JC?K<BV

r<=JO$;:$?J;?B=$P;?@?C=A;=I$>G:B?>G<P=;<A=CH;?I$>G:DA<D<(

[?@C:J;?$ JA($ +-$ED:8:;;?@?$ 8:D?;:3$ JE9=L;?VWDJ>=GA;:O$ 9=OA=CHV

;?JAH$ J?JA?<A$ B$ ?G@:;<8:Q<<$ <$ >G?<8B?9JAB=$ JE9=L;?I$ WDJ>=GA<8M(

X2;2%"5$ JE9=L;?VWDJ>=GA;?I$ 9=OA=CH;?JA<$ OBCO=AJO$ ?D:8:;<=$ J?9=IV

JAB<O$>G:B??RG:;<A=CH;MP$?G@:;:P$,dJE9:P3$JE9HOP3$?G@:;:P$9?8;:V

;<O3$C<Q:P3$>G?<8B?9On<P$9?8;:;<=3$JC=9?B:A=COP$<$>G?DEG?G:Pe/$B

EJA:;?BC=;<<$?LJA?OA=CHJAB3$>?9C=K:n<R$9?D:8MB:;<f$>?$D?;DG=AV

-$[$ET=A?P$>?C?K=;<O$JA(l&-3$G:J>G?JAG:;Ofn=I$9=IJAB<=$GO9:$?J;?B;MR$>?C?K=;<I

8:D?;:$ ;:$ JE9=L;?VWDJ>=GA;Ef$ 9=OA=CH;?JAH$ C<Q3$ ;=$ OBCOfn<RJO$ @?JE9:GJAB=;;MP<

JE9=L;MP<$WDJ>=GA:P<(

<$;=><J:;MR$>G:B<C$>G?N=JJ<?;:CH;?I$<C<$?Ln=T=C?B=T=JD?I$WA<D<

AEA$T:JA?$<$G=T<$;=A($#$J?K:C=;<f3$LMB:=A$<$A:D3$TA?$dG:8?LC:T<A=CHV

;:Oe$>ELC<D:Q<O$>G=9JA:BCO=A$J?L?I$;=$T=JA;?=$<$?Ls=DA<B;?=$KEGV

;:C<JAJD?=$G:JJC=9?B:;<=3$:$EK=$D=PVA?$?>C:T=;MI$dJC<B$D?P>G?P:V

A:e($bJ=$ WA?$JEn=JAB=;;?$J;<K:=A$D?G>?G:A<B;Ef$G=>EA:Q<f$J:P?I

KEG;:C<JA<D<$B$G?JJ<IJD?P$?Ln=JAB=(

c?WA?PE$BJ=P$G:L?A;<D:P$[a7$PM$R?A<P$;:>?P;<AH$PE9GM=$JC?V

B:$<8$<;A=GBHf3$D?A?G?=$0EC:A$�:CB?B<T$XDE9K:B:$9:C$6$:>G=CO$-))1

@?9:$@:8=A=$da?JD?BJD<I$D?PJ?P?C=Qe\

dU:r=$?Ln=JAB?$;=$ 8;:=A3$TA?$A:D?=$ JB?L?9:($X;?$ 8;:=A$A?CHD?3

TA?$A:D?=$B?CO3$]$9=C:I$TA?$R?T=rH($_$JB?L?9:$]$WA?$9=C:I$TA?$R?T=rH3

;=$P=r:O$>G<$WA?P$?DGEK:fn<P3$A?$=JAH$B$G:PD:R$8:D?;:($aM$K=$;=

8;:=P$;<$EB:K=;<O$D$8:D?;E3$;<$EB:K=;<O$D$C<T;?JA<($c?D:$WA<$>?;OV

A<O$;=$>G<K<BEAJO$B$;:r=I$JAG:;=3$;<D:D?I$@=;<I$;:J$;=$J>:JoAe$�

0E9=P$<JDG=;;=$>G<8;:A=CH;M$BJ=P3$DA?$>?JC=$>G?TA=;<O$;:r=@?

P=A?9<T=JD?@?$>?J?L<O$<$B$R?9=$ =@?$<J>?CH8?B:;<O$B$>G:DA<T=JD?I

9=OA=CH;?JA<$ ;:I9=A$ BG=PO$ >G<JC:AH$ ;:$ >?TA?BMI$ :9G=J$ 4YZ"7[

,-+)-1&3$a?JDB:3$:�O$--2/$JB?<$8:P=T:;<O3$>?K=C:;<O$<$>G=9C?K=;<O(

X;<$LE9EA$ETA=;M$:BA?G:P<VJ?JA:B<A=COP<$B$9:CH;=Ir=I$G:L?A=$>?

9:;;?I$A=P=(

M"+"*5FJE1@>?S3'"%"(>8L/75?C@1BS3#"%"K/8@>?"

9T305@/L8H3UTT:3="

Sh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

SI

1$+/0

)*6

-#4

%/)#&

+,

P<3$;=$8:B<JOn<P<$?A$D?;DG=A;?@?$B<9:$>G?Q=JJ:$,E@?C?B;MI3$@G:KV

9:;JD<I3$:9P<;<JAG:A<B;MI$<lA(l>(/3$B$D?A?G?P$ET:JABE=A$WDJ>=GA\

• >G<;Q<>$;=8:B<J<P?JA<$WDJ>=GA:3$B$J??AB=AJAB<<$J$D?A?GMP$>G<

>G?<8B?9JAB=$JE9=L;?I$WDJ>=GA<8M$WDJ>=GA$;=8:B<J<P3$?;$;=$P?V

K=A$;:R?9<AHJO$B$D:D?IVC<L?$8:B<J<P?JA<$?A$?G@:;:$<C<$C<Q:3

;:8;:T<Br<R$JE9=L;Ef$WDJ>=GA<8E3$JA?G?;$<$9GE@<R$C<Q3$8:<;A=V

G=J?B:;;MR$B$<JR?9=$9=C:($U=$9?>EJD:=AJO$B?89=IJAB<=$;:$WDJ>=GV

A:$J?$JA?G?;M$JE9?B3$JE9=I3$?G@:;?B$9?8;:;<O3$C<Q3$>G?<8B?9On<R

9?8;:;<=3$ JC=9?B:A=C=I$<$>G?DEG?G?B3$ :$ A:DK=$<;MR$@?JE9:GV

JAB=;;MR$?G@:;?B3$?G@:;<8:Q<I3$?Ls=9<;=;<I$<$?A9=CH;MR$C<Q$B

Q=COR$>?CET=;<O$8:DCfT=;<O$B$>?CH8E$D?@?VC<L?$<8$ET:JA;<D?B

>G?Q=JJ:$<C<$B$<;A=G=J:R$9GE@<R$C<Q($Y<Q:3$B<;?B;M=$B$?D:8:;<<

B?89=IJAB<O$;:$WDJ>=GA:3$>?9C=K:A$?AB=AJAB=;;?JA<$B$J??AB=AV

JAB<<$J$8:D?;?9:A=CHJAB?P$S?JJ<IJD?I$F=9=G:Q<<$,JA($'/^

• >G<;Q<>$;:C<T<O$E$WDJ>=GA:$?>G=9=C=;;?I$<$?@G:;<T=;;?I$>G?V

Q=JJE:CH;?I$D?P>=A=;Q<<($dZDJ>=GA$9:=A$8:DCfT=;<=3$?J;?BMV

B:OJH$;:$G=8ECHA:A:R$>G?B=9=;;MR$<JJC=9?B:;<I$B$J??AB=AJAB<<

J?$JB?<P<$J>=Q<:CH;MP<$8;:;<OP<e$,JA($'/^

• >G<;Q<>$?Ls=DA<B;?JA<$<JJC=9?B:;<O($dZDJ>=GA$>G?B?9<A$<JV

JC=9?B:;<O$?Ls=DA<B;?3$;:$JAG?@?$;:ET;?I$<$>G:DA<T=JD?I$?JV

;?B=3$ B$ >G=9=C:R$ J??AB=AJABEfn=I$ J>=Q<:CH;?JA<�e$ ,JA(l*/(

XLs=DA<B;?JAH$<JJC=9?B:;<O$OBCO=AJO$?9;<P$<8$?Ln<R$>G<;Q<V

>?B$;:ET;?@?$>?8;:;<O($b=9En<P$DG<A=G<=P$?Ls=DA<B;?JA<$OBV

CO=AJO$>?CET=;<=$A=R$K=$<C<$LC<8D<R$G=8ECHA:A?B$>G<$B?J>G?<8V

B=9=;<<$<JJC=9?B:;<O$9GE@<P$C<Q?P$<C<$ETG=K9=;<=P^

• >G<;Q<>$>G?B=GO=P?JA<$BMB?9?B$WDJ>=GA:3$ A=J;?$JBO8:;;MI$J

>G<;Q<>?P$?Ls=DA<B;?JA<$<JJC=9?B:;<O($dp:DCfT=;<=$WDJ>=GV

A:$9?CK;?$?J;?BMB:AHJO$;:$>?C?K=;<OR3$9:fn<R$B?8P?K;?JAH

>G?B=G<AH$?L?J;?B:;;?JAH$<$9?JA?B=G;?JAH$J9=C:;;MR$BMB?9?B

;:$L:8=$?Ln=>G<;OAMR$;:ET;MR$<$>G:DA<T=JD<R$9:;;MRe$,JA(l*/^

• >G<;Q<>$ >?C;?AM$ WDJ>=GA;?@?$ <JJC=9?B:;<O$ ,JA(l*/3$ D?A?GMI

?8;:T:=A3$TA?$>G<$9:T=$8:DCfT=;<O$WDJ>=GA$9?CK=;3$D:D$P<;<V

PEP3$JN?GPEC<G?B:AH$BMB?9M$>?$BJ=P$>?JA:BC=;;MP$>=G=9$;<P

B?>G?J:P3$ :$ A:DK=$ >?$ B?8P?K;?JA<$ JAG=P<AHJO$ >G?OB<AH$ WDJV

>=GA;Ef$<;<Q<:A<BE3$A($=($ED:8:AH$;:$?L;:GEK=;;M=$<P$B$R?9=

<JJC=9?B:;<O$?LJA?OA=CHJAB:3$D?A?GM=$P?@EA$<P=AH$8;:T=;<=$9CO

9=C:3$>?$>?B?9E$D?A?GMR$B?>G?JM$;=$LMC<$>?JA:BC=;M^

• >G<;Q<>$BJ=JA?G?;;?JA<$<JJC=9?B:;<O$ ,JA(l*/3$D?A?G:O$ AG:DAEV

=AJO$D:D$ET=A$>G<$>G?<8B?9JAB=$WDJ>=GA<8M$BJ=R$N:DA?G?B$,>G<V

8;:D?B$ >G=9JA:BC=;;?@?$ ?Ls=DA:/3$ JB<9=A=CHJABEfn<R$ D:D$ B

>?CH8E$>?C?K<A=CH;?@?$BMB?9:$>?$>?JA:BC=;;?PE$B?>G?JE3$A:D

<$B$>?CH8E$?AG<Q:A=CH;?@?$BMB?9:$C<L?$BMB?9:$?$;=B?8P?K;?V

JA<$G=r=;<O$B?>G?J:(

;?PE$9=CE($[?9=IJAB<=$?D:8MB:=AJO$>?JG=9JAB?P$G:8G=r=;<O$B?>G?V

J?B3$AG=LEfn<R$J>=Q<:CH;MR$8;:;<I$B$?LC:JA<$;:ED<3$A=R;<D<3$<JDEJV

JAB:$<C<$G=P=JC:(

b$JA($)$9:;M$?>G=9=C=;<O$?J;?B;MR$>?;OA<I3$<J>?CH8E=PMR$B$8:D?V

;=($ b$ T:JA;?JA<3$ >?9$ 4L;(C0(&D)(;4=)(J$ >?;<P:=AJO$ dG=@EC<GE=P:O

>G?Q=JJE:CH;MP$8:D?;?9:A=CHJAB?P$S?JJ<IJD?I$F=9=G:Q<<$9=OA=CHV

;?JAH$JE9:$<C<$JE9H<$B$R?9=$JE9=L;?@?$G:8L<G:A=CHJAB:$@G:K9:;JD<R3

:9P<;<JAG:A<B;MR$<$E@?C?B;MR$9=C3$:$A:DK=$9=OA=CH;?JAH$?G@:;:$9?8V

;:;<O3$C<Q:3$>G?<8B?9On=@?$9?8;:;<=3$JC=9?B:A=CO$<C<$>G?DEG?G:$>G<

B?8LEK9=;<<$E@?C?B;?@?$9=C:3$>G?B=9=;<<$9?8;:;<O$<$>G=9B:G<A=CHV

;?@?$JC=9JAB<Oe(

RL;"13Lg* B'4C"0=&DL$ 8:D?;$ ?>G=9=CO=A$ D:D$ >G?Q=JJE:CH;?=$ 9=IV

JAB<=3$J?JA?On==$<8$>G?B=9=;<O$<JJC=9?B:;<I$<$9:T<$8:DCfT=;<O$WDJV

>=GA?P$>?$B?>G?J:P3$G:8G=r=;<=$D?A?GMR$AG=LE=A$J>=Q<:CH;MR$8;:V

;<I$<$D?A?GM=$>?JA:BC=;M$>=G=9$WDJ>=GA?P$E>?C;?P?T=;;MP$C<Q?P

,JE9?P3$JE9H=I3$?G@:;?P$9?8;:;<O$<lA(l>(/$B$Q=COR$EJA:;?BC=;<O$?LJA?V

OA=CHJAB3$>?9C=K:n<R$9?D:8MB:;<f$>?$D?;DG=A;?PE$9=CE(

X2'#g%"3&"*B'4C"0=2$]$d><JHP=;;MI$9?DEP=;A3$?AG:K:fn<I$R?9$<

G=8ECHA:AM$<JJC=9?B:;<I3$>G?B=9=;;MR$WDJ>=GA?Pe(

[A:AHO$%$8:D?;:$?>G=9=CO=A$C02)()Lg*(43()L$@?JE9:GJAB=;;?I$JEV

9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<^$B$WAE$JA:AHf$]$>?P<P?$#?;JA<AEQ<<

S?JJ<IJD?I$F=9=G:Q<<3$G:JJP:AG<B:=P?@?$8:D?;:$<$9GE@<R$N=9=G:CHV

;MR$8:D?;?B3$:$A:DK=$;?GP:A<B;?V>G:B?BMR$:DA?B$N=9=G:CH;MR$?G@:V

;?B$<J>?C;<A=CH;?I$BC:JA<3$G=@EC<GEfn<R$?G@:;<8:Q<f$<$>G?<8B?9V

JAB?$ JE9=L;?I$ WDJ>=GA<8M3$ ]$ BDCfT=;?$ =9B:$ C<$ ;=$ BJ=$ N=9=G:CH;?=

>G?Q=JJE:CH;?=$8:D?;?9:A=CHJAB?\$4G:K9:;JD<I$>G?Q=JJE:CH;MI$D?V

9=DJ$S[F[S3$_GL<AG:K;MI$>G?Q=JJE:CH;MI$D?9=DJ$S?JJ<IJD?I$F=V

9=G:Q<<3$!@?C?B;?V>G?Q=JJE:CH;MI$D?9=DJ$S[F[S3$#?9=DJ$S?JJ<IJV

D?I$F=9=G:Q<<$?L$:9P<;<JAG:A<B;MR$>G:B?;:GEr=;<OR3$u:P?K=;;MI

D?9=DJ$S?JJ<IJD?I$F=9=G:Q<<3$U:C?@?BMI$D?9=DJ$S?JJ<IJD?I$F=9=V

G:Q<<3$;=$E>?PO;EA$C<rH$F#p$dX$#?;JA<AEQ<?;;?P$JE9=$SFe(

b$JA:AHOR$&]*$8:D?;:$8:N<DJ<G?B:;M$?J;?B;M=$>G<;Q<>M$@?JE9:GV

JAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<3$D?A?GM=3$J?@C:J;?$JA($&-3

G:J>G?JAG:;OfAJO$<$;:$JE9=L;?VWDJ>=GA;Ef$9=OA=CH;?JAH$;=@?JE9:GV

JAB=;;MR$WDJ>=GA?B($ZA<$>G<;Q<>M$P?@EA$LMAH$J?9=GK:A=CH;?$G:8B=V

9=;M$;:$9B=$@GE>>M(

c=GBEf$@GE>>E$ J?JA:BCOfA$C0(K"44L2#$3(NC02)()E"* _(1H"g0&;&N

%"4'&"`*C0&3K&CE*9=OA=CH;?JA<\

• >G<;Q<>$8:D?;;?JA<$,JA($6/^

• >G<;Q<>$J?LCf9=;<O$>G:B$<$JB?L?9$T=C?B=D:$<$@G:K9:;<;:3$>G:B

fG<9<T=JD?@?$C<Q:$,JA($1/(

bA?GEf$@GE>>E$J?JA:BCOfA$C0(b"44&(32#$3E"*_4C"K&2#$3E"`*C0&3N

K&CE* JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<3$ OBCOfn<=JO$P=K?AG:JC=BMV

SL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

SM

1$+/0

)*6

-#4

%/)#&

+,

!JA:;?BC=;;M=$A?I$K=$JA:AH=I$8:>G=AM\

• >G<;<P:AH$>?GET=;<O$?$>G?<8B?9JAB=$JE9=L;?I$WDJ>=GA<8M$;=V

>?JG=9JAB=;;?$?A$D:D<RVC<L?$?G@:;?B$<C<$C<Q3$8:$<JDCfT=;<=P

GED?B?9<A=CO$@?JE9:GJAB=;;?@?$JE9=L;?VWDJ>=GA;?@?$ETG=K9=;<O^

• ?JEn=JABCOAH$JE9=L;?VWDJ>=GA;Ef$9=OA=CH;?JAH$B$D:T=JAB=$;=V

@?JE9:GJAB=;;?@?$WDJ>=GA:(

[$ ?T=B<9;?JAHf$ ?A;?JOAJO$ A?CHD?$ D$ @?JE9:GJAB=;;MP$ JE9=L;MP

WDJ>=GA:P(

cG:B:$ WDJ>=GA:$ ?>G=9=C=;M$ B$ JA:AH=$ -'$ ED:8:;;?@?$ 8:D?;:($ ZDJV

>=GA$B>G:B=\

• R?9:A:IJAB?B:AH$>=G=9$GED?B?9<A=C=P$JE9=L;?VWDJ>=GA;?@?$ETV

G=K9=;<O$?$>G<BC=T=;<<$D$>G?<8B?9JABE$JE9=L;?I$WDJ>=GA<8M

9GE@<R$WDJ>=GA?B3$ =JC<$WA?$;=?LR?9<P?$9CO$>G?B=9=;<O$<JJC=V

9?B:;<I$<$9:T<$8:DCfT=;<O^

• 9=C:AH$>?9C=K:n<=$ 8:;=J=;<f$B$>G?A?D?C$JC=9JAB=;;?@?$9=IV

JAB<O$<C<$JE9=L;?@?$8:J=9:;<O$8:OBC=;<O$>?$>?B?9E$;=>G:B<CHV

;?@?$<JA?CD?B:;<O$ET:JA;<D:P<$>G?Q=JJ:$=@?$8:DCfT=;<O$<C<

>?D:8:;<I^

• ?LK:C?B:AH$B$EJA:;?BC=;;?P$8:D?;?P$>?GO9D=$9=IJAB<O$?G@:;:

<C<$C<Q:3$;:8;:T<Br<R$JE9=L;Ef$WDJ>=GA<8E3$=JC<$?;<$;:GEr:V

fA$>G:B:$WDJ>=GA:(

ZDJ>=GA$ A:DK=$ <P==A$ >G:B:3$ >G=9EJP?AG=;;M=$ J??AB=AJABEfn<P

>G?Q=JJE:CH;MP$8:D?;?9:A=CHJAB?P(

[?@C:J;?$JA(l+6$ED:8:;;?@?$8:D?;:3$;:$?J;?B:;<<$>G?B=9=;;MR$<JV

JC=9?B:;<I$J$ET=A?P$<R$G=8ECHA:A?B$WDJ>=GA$?A$JB?=@?$<P=;<$<C<$D?V

P<JJ<O$WDJ>=GA?B$9:fA$><JHP=;;?=$8:DCfT=;<=$<$>?9><JMB:fA$=@?(

b$8:DCfT=;<<$WDJ>=GA:$<C<$D?P<JJ<<$WDJ>=GA?B$9?CK;M$LMAH$?AV

G:K=;M\

• BG=PO$<$P=JA?$>G?<8B?9JAB:$JE9=L;?I$WDJ>=GA<8M^

• ?J;?B:;<O$>G?<8B?9JAB:$JE9=L;?I$WDJ>=GA<8M^

• JB=9=;<O$?L$?G@:;=$<C<$?$C<Q=3$;:8;:T<Br<R$JE9=L;Ef$WDJ>=GV

A<8E^

• JB=9=;<O$?$JE9=L;?VWDJ>=GA;?P$ETG=K9=;<<3$?L$WDJ>=GA=$,N:P<V

C<O3$<PO3$?AT=JAB?3$?LG:8?B:;<=3$ J>=Q<:CH;?JAH3$ JA:K$G:L?AM3

ET=;:O$JA=>=;H$<$ET=;?=$8B:;<=3$8:;<P:=P:O$9?CK;?JAH/3$D?A?V

GMP$>?GET=;?$>G?<8B?9JAB?$JE9=L;?I$WDJ>=GA<8M^

• >G=9E>G=K9=;<=$WDJ>=GA:$B$ J??AB=AJAB<<$J$ 8:D?;?9:A=CHJAB?P

S?JJ<IJD?I$ F=9=G:Q<<$ ?L$ ?AB=AJAB=;;?JA<$ 8:$ 9:TE$ 8:B=9?P?

C?K;?@?$8:DCfT=;<O^

• B?>G?JM3$>?JA:BC=;;M=$>=G=9$WDJ>=GA?P$<C<$D?P<JJ<=I$WDJ>=GA?B^

• ?Ls=DAM$<JJC=9?B:;<I$<$P:A=G<:CM$9=C:3$>G=9JA:BC=;;M=$WDJV

>=GAE$9CO$>G?<8B?9JAB:$JE9=L;?I$WDJ>=GA<8M^

78$A=DJA:$8:D?;:$dX$@?JE9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CHV

;?JA<$B$SFe$JC=9E=A3$TA?$JE9=L;?@?$WDJ>=GA:$P?K;?$?>G=9=C<AH$D:D

d:AA=JA?B:;;?@?$G:L?A;<D:$@?JE9:GJAB=;;?@?$JE9=L;?VWDJ>=GA;?@?$ETV

G=K9=;<O3$>G?<8B?9On=@?$JE9=L;Ef$WDJ>=GA<8E$B$>?GO9D=$<J>?C;=;<O

JB?<R$9?CK;?JA;MR$?LO8:;;?JA=Ie$,@?JE9:GJAB=;;MI$JE9=L;MI$WDJ>=GA3

JA(l-+/$C<L?$D:D$C<Q?3$?LC:9:fn==$J>=Q<:CH;MP<$8;:;<OP<$B$?LC:JA<

;:ED<3$A=R;<D<3$<JDEJJAB:$<C<$G=P=JC:3$BM>?C;Ofn==$JE9=L;Ef$WDJ>=GV

A<8E3$;?$;=$OBCOfn==JO$@?JE9:GJAB=;;MP$JE9=L;MP$WDJ>=GA?P$,JA(l&-/(

cG:B?B?I$JA:AEJ$WDJ>=GA:$?>G=9=CO=AJO$>G=K9=$BJ=@?$DGE@?P$=@?$>G:B

<$?LO8:;;?JA=I($[?@C:J;?$JA(l-1$ED:8:;;?@?$8:D?;:3$WDJ>=GA$?LO8:;\

• >G<;OAH$D$>G?<8B?9JABE$>?GET=;;Ef$=PE$JE9=L;Ef$WDJ>=GA<8E^

• >G?B=JA<$>?C;?=$<JJC=9?B:;<=$>G=9JA:BC=;;MR$=PE$?Ls=DA?B$<

P:A=G<:C?B$ 9=C:3$ 9:AH$ ?L?J;?B:;;?=$ <$ ?Ls=DA<B;?=$ 8:DCfT=V

;<=$>?$>?JA:BC=;;MP$>=G=9$;<P$B?>G?J:P^

• =JC<$>?JA:BC=;;M=$B?>G?JM$BMR?9OA$ 8:$>G=9=CM$J>=Q<:CH;MR

8;:;<I$WDJ>=GA:3$?Ls=DAM$<JJC=9?B:;<I$<$P:A=G<:CM$9=C:$;=V

>G<@?9;M$ <C<$ ;=9?JA:A?T;M$ 9CO$ >G?B=9=;<O$ <JJC=9?B:;<I$ <

9:T<$8:DCfT=;<O$<$WDJ>=GAE$?AD:8:;?$B$<R$9?>?C;=;<<$C<L?$J?V

BG=P=;;MI$ EG?B=;H$ G:8B<A<O$ ;:ED<$ ;=$ >?8B?CO=A$ ?AB=A<AH$ ;:

>?JA:BC=;;M=$B?>G?JM3l]$ J?JA:B<AH$P?A<B<G?B:;;?=$><JHP=;V

;?=$J??Ln=;<=$?$;=B?8P?K;?JA<$9:AH$8:DCfT=;<=$<$;:>G:B<AH

9:;;?=$J??Ln=;<=$B$?G@:;$<C<$C<QE3$D?A?GM=$;:8;:T<C<$JE9=LV

;Ef$WDJ>=GA<8E^

• ;=$G:8@C:r:AH$JB=9=;<O3$D?A?GM=$JA:C<$=PE$<8B=JA;M$B$JBO8<$J

>G?<8B?9JAB?P$JE9=L;?I$WDJ>=GA<8M3$B$A?P$T<JC=$JB=9=;<O3$D?V

A?GM=$ P?@EA$ ?@G:;<T<AH$ D?;JA<AEQ<?;;M=$ >G:B:$ @G:K9:;3$ :

A:DK=$JB=9=;<O3$J?JA:BCOfn<=$@?JE9:GJAB=;;Ef3$D?PP=GT=JDEf

<C<$<;Ef$?RG:;O=PEf$8:D?;?P$A:I;E^

• ?L=J>=T<AH$ J?RG:;;?JAH$ >G=9JA:BC=;;MR$ ?Ls=DA?B$ <JJC=9?B:V

;<I$<$P:A=G<:C?B$9=C:(

ZDJ>=GA$A:DK=$<J>?C;O=A$?LO8:;;?JA<3$>G=9EJP?AG=;;M=$J??AB=AV

JABEfn<P$>G?Q=JJE:CH;MP$8:D?;?9:A=CHJAB?P(

ZDJ>=GA$;=$B>G:B=\

• BJAE>:AH$B$C<T;M=$D?;A:DAM$J$ET:JA;<D:P<$>G?Q=JJ:3$=JC<$WA?

JA:B<A$>?9$J?P;=;<=$=@?$;=8:<;A=G=J?B:;;?JAH$B$<JR?9=$9=C:^

• J:P?JA?OA=CH;?$J?L<G:AH$P:A=G<:CM$9CO$>G?<8B?9JAB:$ JE9=LV

;?I$WDJ>=GA<8M^

• J??Ln:AH$D?PEVC<L?$?$G=8ECHA:A:R$JE9=L;?I$WDJ>=GA<8M3$8:$<JV

DCfT=;<=P$?G@:;:$<C<$C<Q:3$==$;:8;:T<Br<R^

• E;<TA?K:AH$?Ls=DAM$<JJC=9?B:;<I$C<L?$JEn=JAB=;;?$<8P=;OAH

<R$JB?IJAB:$L=8$G:8G=r=;<O$?G@:;:$<C<$C<Q:3$;:8;:T<Br<R$JEV

9=L;Ef$WDJ>=GA<8E(

SO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

SP

1$+/0

)*6

-#4

%/)#&

+,

S"S"h"` +N>=F@@>NEA6Z?>fFNNaDGU@>V>6NEDEaND6YBNZF?ED6H6>N@>H@\]HAJD]6Z?>fFNND

p:D?;$dX$@?JE9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<e$BDCfV

T:=A$B$J=LO$A=$>?C?K=;<O3$D?A?GM=$OBCOfAJO$?Ln<P<$9CO$G:8;MR$B<V

9?B$JE9=L;?@?$>G?Q=JJ:($b$A?$K=$BG=PO$B$>G?Q=JJE:CH;MR$D?9=DJ:R$=JAH

?J?LM=$;?GPM3$?A;?JOn<=JO$D$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<$<$OBV

COfn<=JO$J>=Q<N<T=JD<P<$9CO$9:;;?@?$B<9:$>G?Q=JJ:(

#$;:T:CE$��g$B($9=IJABEfn==$8:D?;?9:A=CHJAB?$S?JJ<IJD?I$F=9=V

G:Q<<$>?JA=>=;;?$BB=C?$B$>G:B?>G<P=;<A=CH;Ef$>G:DA<DE$J=PH$B<V

9?B$ >ELC<T;?@?$ >G:B?>G<P=;<A=CH;?@?$ >G?Q=JJ:$ ,D:A=@?G<I$ 9=C/3

ET:JA;<D?P$D?A?GMR$P?K=A$JA:AH$JE9=L;MI$WDJ>=GA\

-/$E@?C?B;MI$>G?Q=JJ$]$J$2-(2-(1-$G=@EC<GE=AJO$;?GP:P<$!@?C?BV

;?V>G?Q=JJE:CH;?@?$D?9=DJ:$S[F[S3$:$J$2-(2'(2+$]$;?GP:P<$!c#$SF^

+/ @G:K9:;JD<I$>G?Q=JJ$]$J$2-(-2(1&$G=@EC<GE=AJO$;?GP:P<$4G:K9:;V

JD?@?$>G?Q=JJE:CH;?@?$D?9=DJ:$S[F[S3$:$J$2-(2+(2%$]$4c#$SF^

%/ :9P<;<JAG:A<B;MI$>G?Q=JJ$]$J$2-(2-(*6$G=@EC<GE=AJO$>G?Q=JJEV

:CH;MP<$;?GP:P<$#?9=DJ:$S[F[S$?L$:9P<;<JAG:A<B;MR$>G:B?;:GEV

r=;<OR3$:$J$2-(2'(2+$]$;?GP:P<$#?_c$SF^

&/ A:P?K=;;MI$ >G?Q=JJ$ ]$ J$ 26(2*()%$ G=@EC<GE=AJO$ ;?GP:P<

u:P?K=;;?@?$D?9=DJ:$S?JJ<IJD?I$F=9=G:Q<<3$:$J$2-(2-(2&$]$;?BMP$u#

SF($ZA?A$;=J:P?JA?OA=CH;MI$B<9$>G?Q=JJ:$J?RG:;<C$>G?<8B?9JAB?$WDV

J>=GA<8M$D:D$>G?Q=JJE:CH;MI$<;JA<AEA^

6/ D?;JA<AEQ<?;;MI$>G?Q=JJ$]$ J$+%(2'()&$G=@EC<GE=AJO$;?GP:P<3

J?9=GK:n<P<JO$B$F=9=G:CH;?P$D?;JA<AEQ<?;;?P$8:D?;=$SF$dX$#?;V

JA<AEQ<?;;?P$[E9=$S?JJ<IJD?I$F=9=G:Q<<e^

1/$ :GL<AG:K;MI$ >G?Q=JJ$ ]$ J$ 2-(2'()6$ G=@EC<GE=AJO$ ;?GP:P<$ _GV

L<AG:K;?@?$ >G?Q=JJE:CH;?@?$ D?9=DJ:$ S?JJ<IJD?I$ F=9=G:Q<<3$ :$ J

2-(2)(2+$]$;?BMP$_c#$SF^

'/$ ;:C?@?BMI$ >G?Q=JJ$ ]$ J$ 2-(2-())$ G=@EC<GE=AJO$ ;?GP:P<$ >=GB?I

T:JA<$U:C?@?B?@?$D?9=DJ:$S?JJ<IJD?I$F=9=G:Q<<^

cG?<8B?9JAB?$JE9=L;MR$WDJ>=GA<8$B$G:8;MR$B<9:R$>G:B?>G<P=;<V

A=CH;?@?$>G?Q=JJ:$G=@EC<GE=AJO$J$G:8C<T;?I$JA=>=;Hf$>?9G?L;?JA<$<

>?C;?AM3$;:<P=;==$9=A:CH;?$]$B$#?_c$SF3$L?C==$9=A:CH;?$B$!c#$SF3

B$_GL<AG:K;?P$>G?Q=JJE:CH;?P$<$>=GB?P$u:P?K=;;?P$D?9=DJ:R$SF(

cG<$;:C<T<<$?Ln<R$T=GA$D?;DG=A;M=$>G?Q=JJE:CH;M=$;?GPM3$G=V

@EC<GEfn<=$>G?<8B?9JAB?$WDJ>=GA<8M$>?$E@?C?B;MP3$ @G:K9:;JD<P3

:9P<;<JAG:A<B;MP3$:GL<AG:K;MP$<$<;MP$D:A=@?G<OP$9=C3$<P=fA$JB?<

?J?L=;;?JA<3$:$<;?@9:$JEn=JAB=;;?$G:8C<T:fAJO(

[?@C:J;?$JA:AH=$6'$U@(#()3(NC0(K"44L2#$3(@(*'(;"'42*MW3$WDJ>=GV

A?P$>G<8;:=AJO$CfL?=$C<Q?3$?LC:9:fn==$J>=Q<:CH;MP<$8;:;<OP<$<

• JB=9=;<O$?L$ET:JA;<D:R$>G?Q=JJ:3$>G<JEAJAB?B:Br<R$>G<$>G?V

<8B?9JAB=$JE9=L;?I$WDJ>=GA<8M^

• J?9=GK:;<=$<$G=8ECHA:AM$<JJC=9?B:;<I$J$ED:8:;<=P$>G<P=;=;V

;MR$P=A?9?B^

• ?Q=;D:$G=8ECHA:A?B$<JJC=9?B:;<I3$?L?J;?B:;<=$<$N?GPEC<G?BV

D:$BMB?9?B$>?$>?JA:BC=;;MP$B?>G?J:P(

a:A=G<:CM3$<CCfJAG<GEfn<=$8:DCfT=;<=$WDJ>=GA:$<C<$D?P<JJ<<

WDJ>=GA?B3$>G<C:@:fAJO$D$8:DCfT=;<f$<$JCEK:A$=@?$J?JA:B;?I$T:JAHf(

u:D<P$ ?LG:8?P3$ 8:D?;$ dX$ @?JE9:GJAB=;;?I$ JE9=L;?VWDJ>=GA;?I

9=OA=CH;?JA<$B$SFe3$D:D$<$ JC=9E=A$<8$ =@?$;:8B:;<O3$G=@C:P=;A<GE=A

9=OA=CH;?JAH$@?JE9:GJAB=;;MR$WDJ>=GA?B$<$@?JE9:GJAB=;;MR$JE9=L;?V

WDJ>=GA;MR$ETG=K9=;<I3$?9;:D?3$TA?$?T=;H$B:K;?3$;=$P?;?>?C<8<GEV

=A$8:$;<P<$WAE$JN=GE3$:$>G<8;:=A$<$9?>EJD:=A$B$J<CE$JA($&-$D$>G?<8B?9V

JABE$WDJ>=GA<8M$>G:DA<T=JD<$;:$G:B;MR$?J;?B:;<OR$A:DK=$<$<;MR$C<Q3

;=$ OBCOfn<RJO$ rA:A;MP<$ J?AGE9;<D:P<$ @?JE9:GJAB=;;MR$ JE9=L;?V

WDJ>=GA;MR$ETG=K9=;<I3$;?$?LC:9:fn<R$J>=Q<:CH;MP<$8;:;<OP<$B

?LC:JA<$;:ED<3$A=R;<D<3$<JDEJJAB:$<C<$G=P=JC:(

cG=9JA:BCO=AJO$CfL?>MA;MP$?AP=A<AH3$TA?$ED:8:;;MI$8:D?;$,JA($-%/

>G=9sOBCO=A$B=JHP:$PO@D<=$AG=L?B:;<O$D$C<QE3$>G=A=;9Efn=PE$;:$9?CV

K;?JAH$WDJ>=GA:$B$@?JE9:GJAB=;;?P$JE9=L;?VWDJ>=GA;?P$ETG=K9=;<<(

uG=LE=AJO$BJ=@?$C<rH$;:C<T<=$ @G:K9:;JAB:$S?JJ<IJD?I$F=9=G:Q<<3

BMJr==$?LG:8?B:;<=$<$>?JC=9Efn:O$>?9@?A?BD:$>?$D?;DG=A;?I$WDJV

>=GA;?I$J>=Q<:CH;?JA<($ZDJ>=GA?P$B$J<JA=P=$?G@:;?B$B;EAG=;;<R$9=C

P?K=A$G:L?A:AH$A:DK=$@G:K9:;<;$S?JJ<IJD?I$F=9=G:Q<<3$<P=fn<I

C<rH$JG=9;==$ J>=Q<:CH;?=$WDJ>=GA;?=$?LG:8?B:;<=($U<D:D<R$9?>?CV

;<A=CH;MR$AG=L?B:;<I$?$P<;<P:CH;?P$JA:K=$G:L?AM$B$9:;;?I$?LC:JV

A<3$;:C<T<<$ETo;?I$JA=>=;<3$>ELC<D:Q<I3$:BA?GJD<R$P=A?9<D$8:D?;$;=

>G=9EJP:AG<B:=A($X9;:D?$<8$fG<9<T=JD?I$>G:DA<D<$<8B=JA;?3$TA?$>G:V

B??RG:;<A=CH;M=$?G@:;M$<$JE9M$JDC?;;M$DG<A<T=JD<$?A;?J<AHJO$D$8:DV

CfT=;<OP$<P=;;?$P?C?9MR$J>=Q<:C<JA?B3$:$<R$>=GBM=$?>MAM$B$N?GP=

WDJ>=GA;MR$8:DCfT=;<I$;=G=9D?$;=$BM9=GK<B:fA$<8?nG=;;?@?$;:A<JV

D:$>G?N=JJ<?;:CH;MR$:9B?D:A?B(

X>MA$>?D:8MB:=A3$TA?$B$WA?P$JPMJC=$:CHA=G;:A<B;M=$,;=@?JE9:GV

JAB=;;M=/$WDJ>=GAM3$D:D$>G:B<C?3$BM@?9;?$?AC<T:fAJO$?LO8:A=CH;MP

;:C<T<=P$EL=9<A=CH;?@?$>G:DA<T=JD?@?$?>MA:$G:L?AM$<$;=J?P;=;;?I

;:ET;?I$D?P>=A=;A;?JA<(

b:K;?$A:DK=$?AP=A<AH3$TA?$B$ JA($ 1$ 8:N<DJ<G?B:;?\$D:K9?=$C<Q?3

>?C:@:fn==3$ TA?$ 9=IJAB<=$ <C<$ L=89=IJAB<=$ JE9=L;?@?$ WDJ>=GA:$ <C<

ETG=K9=;<O$B$Q=C?P$>G<B=C<$D$?@G:;<T=;<f$>G:B$<$JB?L?9$@G:K9:;<V

;:$C<L?$>G:B$<$8:D?;;MR$<;A=G=J?B$fG<9<T=JD?@?$C<Q:3$B>G:B=$?LK:V

C?B:AH$ ED:8:;;M=$ 9=IJAB<O$ ,L=89=IJAB<=/$ B$ >?GO9D=3$ EJA:;?BC=;;?P

8:D?;?9:A=CHJAB?P$S?JJ<IJD?I$F=9=G:Q<<(

SQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

SR

1$+/0

)*6

-#4

%/)#&

+,

6/$B?8G:JA$>?9?8G=B:=P?@?3$?LB<;O=P?@?3$>?A=G>=Br=@?3$D?@9:$WA?

<P==A$8;:T=;<=$9CO$E@?C?B;?@?$9=C:3$:$9?DEP=;AM3$>?9AB=GK9:fn<=

=@?$B?8G:JA3$?AJEAJABEfA$<C<$BM8MB:fA$J?P;=;<=(

[C=9?B:A=CH$ B>G:B=$ C<T;?$ >G<JEAJAB?B:AH$ >G<$ >G?<8B?9JAB=$ JEV

9=L;?I$ WDJ>=GA<8M3$ >?CET:AH$ G:8sOJ;=;<O$ WDJ>=GA:$ >?$ >?B?9E$ >G?V

B?9<PMR$<P$9=IJAB<I($F:DA$>G<JEAJAB<O$JC=9?B:A=CO$>G<$>G?<8B?9JAB=

JE9=L;?I$WDJ>=GA<8M$?AG:K:=AJO$B$8:DCfT=;<<$WDJ>=GA:(

cG<$;:8;:T=;<<$<$>G?<8B?9JAB=$ JE9=L;?I$WDJ>=GA<8M$>?9?8G=B:V

=PMI3$?LB<;O=PMI3$=@?$8:n<A;<D$B>G:B=\

• 8;:D?P<AHJO$J$>?JA:;?BC=;<=P$?$;:8;:T=;<<$JE9=L;?I$WDJ>=GV

A<8M^

• 8:OBCOAH$ ?AB?9$ WDJ>=GAE$ <C<$ R?9:A:IJAB?B:AH$ ?$ >G?<8B?9JAB=

JE9=L;?I$WDJ>=GA<8M$B$9GE@?P$WDJ>=GA;?P$ETG=K9=;<<^

• R?9:A:IJAB?B:AH$?$>G<BC=T=;<<$B$D:T=JAB=$WDJ>=GA?B$ED:8:;;MR

<P<$C<Q$C<L?$?$>G?<8B?9JAB=$JE9=L;?I$WDJ>=GA<8M$B$D?;DG=AV

;?P$WDJ>=GA;?P$ETG=K9=;<<^

• R?9:A:IJAB?B:AH$?$B;=J=;<<$B$>?JA:;?BC=;<=$?$;:8;:T=;<<$JEV

9=L;?I$WDJ>=GA<8M$9?>?C;<A=CH;MR$B?>G?J?B$WDJ>=GAE^

• >G<JEAJAB?B:AH$J$G:8G=r=;<O$JC=9?B:A=CO$>G<$>G?<8B?9JAB=$JEV

9=L;?I$WDJ>=GA<8M3$9:B:AH$?LsOJ;=;<O$WDJ>=GAE^

• 8;:D?P<AHJO$J$8:DCfT=;<=P$WDJ>=GA:$<C<$J??Ln=;<=P$?$;=B?8V

P?K;?JA<$9:AH$8:DCfT=;<=3$:$A:DK=$J$>G?A?D?C?P$9?>G?J:$WDJV

>=GA:(

[B<9=A=CH$<$>?A=G>=Br<I3$B$?A;?r=;<<$D?A?GMR$>G?<8B?9<C:JH

JE9=L;:O$WDJ>=GA<8:3$B>G:B=$?8;:D?P<AHJO$J$8:DCfT=;<=P$WDJ>=GA:(

cG<$>G?<8B?9JAB=$JE9=L;?I$WDJ>=GA<8M$B$WDJ>=GA;?P$ETG=K9=;<<

JC=9?B:A=CH$;:>G:BCO=A$GED?B?9<A=Cf$J??AB=AJABEfn=@?$WDJ>=GA;?@?

ETG=K9=;<O$>?JA:;?BC=;<=$?$;:8;:T=;<<$JE9=L;?I$WDJ>=GA<8M$<$P:A=V

G<:CM3$;=?LR?9<PM=$9CO$==$>G?<8B?9JAB:(

SED?B?9<A=CH$ WDJ>=GA;?@?$ ETG=K9=;<O$ >?JC=$ >?CET=;<O$ >?JA:V

;?BC=;<O$>?GET:=A$>G?<8B?9JAB?$JE9=L;?I$WDJ>=GA<8M$D?;DG=A;?PE

WDJ>=GAE$<C<$;=JD?CHD<P$WDJ>=GA:P$<8$T<JC:$G:L?A;<D?B$9:;;?@?$ETV

G=K9=;<O$<$EB=9?PCO=A$?L$WA?P$JC=9?B:A=CO($cG<$WA?P$GED?B?9<A=CH

WDJ>=GA;?@?$ ETG=K9=;<O3$ 8:$ <JDCfT=;<=P$ GED?B?9<A=CO$ @?JE9:V

GJAB=;;?@?$JE9=L;?VWDJ>=GA;?@?$ETG=K9=;<O3$G:8sOJ;O=A$WDJ>=GAE$=@?

>G:B:$<$?AB=AJAB=;;?JAH3$>G=9EJP?AG=;;M=$JA:AH=I$6'$!c#$SF(

SED?B?9<A=CH$WDJ>=GA;?@?$ETG=K9=;<O$B>G:B=$B?8BG:A<AH$L=8$<JV

>?C;=;<O$>?JA:;?BC=;<=$?$;:8;:T=;<<$JE9=L;?I$WDJ>=GA<8M$<$P:A=V

G<:CM3$>G=9JA:BC=;;M=$9CO$==$>G?<8B?9JAB:3$=JC<$B$9:;;?P$ETG=K9=;<<

;=A$ WDJ>=GA:$D?;DG=A;?I$J>=Q<:CH;?JA<$C<L?$J>=Q<:CH;MR$EJC?B<I

9CO$>G?B=9=;<O$<JJC=9?B:;<I3$ED:8:B$P?A<BM3$>?$D?A?GMP$>G?<8B?V

9<AJO$B?8BG:A$P:A=G<:C?B(

;:8;:T=;;?=$ B$ >?GO9D=3$ EJA:;?BC=;;?P$ !@?C?B;?V>G?Q=JJE:CH;MP

D?9=DJ?P3$9CO$>G?<8B?9JAB:$JE9=L;?I$WDJ>=GA<8M$<$9:T<$8:DCfT=;<O(

u:D3$WDJ>=GA$B$J<CE$JB?=@?$JA:AEJ:$B$E@?C?B;?P$>G?Q=JJ=$B>G:B=\

-/$ 8;:D?P<AHJO$ J$P:A=G<:C:P<$E@?C?B;?@?$9=C:3$?A;?JOn<P<JO$D

>G=9P=AE$JE9=L;?I$WDJ>=GA<8M^

+/$ R?9:A:IJAB?B:AH$?$>G=9?JA:BC=;<<$=PE$9?>?C;<A=CH;MR$P:A=V

G<:C?B3$;=?LR?9<PMR$9CO$9:T<$8:DCfT=;<O3$C<L?$>G<BC=T=;<<$D$>G?V

<8B?9JABE$JE9=L;?I$WDJ>=GA<8M$9GE@<R$WDJ>=GA?B^

%/$ET:JAB?B:AH$J$G:8G=r=;<O$9?8;:B:A=CO3$JC=9?B:A=CO$<$JE9:$B$>G?V

Q=JJE:CH;MR$9=IJAB<OR$<$8:9:B:AH$B?>G?JM3$?A;?JOn<=JO$D$>G=9P=AE

JE9=L;?I$WDJ>=GA<8M^

&/$9:B:AH$8:DCfT=;<=$B$>G=9=C:R$JB?=I$D?P>=A=;Q<<3$B$A?P$T<JC=

>?$B?>G?J:P3$R?AO$<$;=$>?JA:BC=;;MP$B$>?JA:;?BC=;<<$?$;:8;:T=;<<

JE9=L;?I$WDJ>=GA<8M3$;?$<P=fn<P$?A;?r=;<=$D$>G=9P=AE$WDJ>=GA;?V

@?$<JJC=9?B:;<O^

b$A?$K=$BG=PO$WDJ>=GA$;=$<P==A$>G:B:\

-/$9:B:AH$8:B=9?P?$C?K;?=$8:DCfT=;<=^

+/$G:8@C:r:AH$9:;;M=$>G=9B:G<A=CH;?@?$G:JJC=9?B:;<O3$ JA:Br<=

<8B=JA;MP<$=PE$B$JBO8<$J$ET:JA<=P$B$E@?C?B;?P$9=C=$B$D:T=JAB=$WDJV

>=GA:3$=JC<$?;$LMC$?L$WA?P$8:G:;==$>G=9E>G=K9=;$B$>?GO9D=3$EJA:;?BV

C=;;?P$JA:AH=I$-1-$;:JA?On=@?$#?9=DJ:^

%/$EDC?;OAHJO$?A$OBD<$>?$BM8?B:P$9?8;:B:A=CO3$JC=9?B:A=CO$<C<$B$JE9(

[C=9?B:A=CH$ 8;:D?P<A$ J$ >?JA:;?BC=;<=P$ ?$ ;:8;:T=;<<$ JE9=L;?I

WDJ>=GA<8M$>?9?8G=B:=P?@?3$?LB<;O=P?@?3$=@?$8:n<A;<D:$<$G:8sOJ;OV

=A$<P$>G:B:3$>G=9EJP?AG=;;M=$JA:AH=I$-)*$!c#$SF($XL$WA?P$J?JA:BV

CO=AJO$>G?A?D?C3$>?9><JMB:=PMI$JC=9?B:A=C=P$<$C<Q:P<3$D?A?GM=$?8V

;:D?PC=;M$J$>?JA:;?BC=;<=P(

[E9=L;:O$WDJ>=GA<8:$B$?A;?r=;<<$>?A=G>=Br=@?3$:$A:DK=$B$?A;?V

r=;<<$JB<9=A=CO$>G?<8B?9<AJO3$D:D$>G:B<C?3$ J$<R$ J?@C:J<O$<C<$J?@V

C:J<O$<R$8:D?;;MR$>G=9JA:B<A=C=I3$D?A?GM=$9:fAJO$ED:8:;;MP<$C<V

Q:P<$B$><JHP=;;?P$B<9=(

!c#$SF$EJA:;:BC<B:=A$>=G=T=;H$JCET:=B3$>?$D?A?GMP$;:8;:T=;<=

<$>G?<8B?9JAB?$JE9=L;?I$WDJ>=GA<8M$?LO8:A=CH;M($ZA:$;?GP:$>G<P=V

;O=AJO3$=JC<$;=?LR?9<P?$EJA:;?B<AH\

-/$>G<T<;M$JP=GA<^

+/$R:G:DA=G$<$JA=>=;H$BG=9:3$>G<T<;=;;?@?$89?G?BHf^

%/$>J<R<T=JD?=$<C<$N<8<T=JD?=$J?JA?O;<=$>?9?8G=B:=P?@?3$?LB<;OV

=P?@?3$D?@9:$B?8;<D:=A$J?P;=;<=$B$=@?$BP=;O=P?JA<$<C<$J>?J?L;?JA<

J:P?JA?OA=CH;?$8:n<n:AH$JB?<$>G:B:$<$8:D?;;M=$<;A=G=JM$B$E@?C?BV

;?P$JE9?>G?<8B?9JAB=^

&/$>J<R<T=JD?=$<C<$N<8<T=JD?=$J?JA?O;<=$>?A=G>=Br=@?3$D?@9:$B?8V

;<D:=A$J?P;=;<=$B$=@?$J>?J?L;?JA<$>G:B<CH;?$B?J>G<;<P:AH$?LJA?OV

A=CHJAB:3$<P=fn<=$8;:T=;<=$9CO$E@?C?B;?@?$9=C:3$<$9:B:AH$>?D:8:;<O^

hT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

hS

1$+/0

)*6

-#4

%/)#&

+,

uG=L?B:;<O$D$J?9=GK:;<f$8:DCfT=;<O$WDJ>=GA:3$>G=9EJP?AG=;;M=

!c#$SF3$>G:DA<T=JD<$J?B>:9:fA$J$EJA:;?BC=;;MP<$8:D?;?P$dX$@?V

JE9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<$B$SFe(

�JC<$ >G<$ >G?<8B?9JAB=$ JE9=L;?I$ WDJ>=GA<8M$ WDJ>=GA$ EJA:;?B<A

?LJA?OA=CHJAB:3$D?A?GM=$<P=fA$8;:T=;<=$9CO$E@?C?B;?@?$9=C:3$;?$>?

>?B?9E$D?A?GMR$=PE$;=$LMC<$>?JA:BC=;M$B?>G?JM3$A?$?;$B>G:B=$ED:V

8:AH$;:$;<R$B$JB?=P$8:DCfT=;<<(

a:A=G<:CM3$<CCfJAG<GEfn<=$8:DCfT=;<=$WDJ>=GA:$,N?A?@G:N<<3

JR=PM3$@G:N<D<$<$A(>(/3$>G<C:@:fAJO$D$8:DCfT=;<f$<$OBCOfAJO$=@?$J?V

JA:B;?I$T:JAHf(

[C=9?B:A=CH$B>G:B=$>?$J?LJAB=;;?I$<;<Q<:A<B=$C<L?$>?$R?9:A:IV

JABE$C<Q3$ED:8:;;MR$B$T:JA<$>=GB?I$JA:AH<$+21$!c#$SF3$9?>G?J<AH

WDJ>=GA:$9CO$G:8sOJ;=;<O$9:;;?@?$<P$8:DCfT=;<O($"?>G?J$WDJ>=GA:

9?$>G=9JA:BC=;<O$<P$8:DCfT=;<O$;=$9?>EJD:=AJO(

ZDJ>=GA$;=$P?K=A$LMAH$9?>G?r=;$>?$>?B?9E$JB=9=;<I3$JA:Br<R$=PE

<8B=JA;MP<$B$JBO8<$J$>G?<8B?9JAB?P$JE9=L;?I$WDJ>=GA<8M3$=JC<$?;<

;=$?A;?JOAJO$D$>G=9P=AE$9:;;?I$JE9=L;?I$WDJ>=GA<8M(

p:DCfT=;<=$WDJ>=GA:$<C<$=@?$J??Ln=;<=$?$;=B?8P?K;?JA<$9:AH$8:DV

CfT=;<=3$:$A:DK=$>G?A?D?C$9?>G?J:$WDJ>=GA:$>G=9sOBCOfAJO$JC=9?B:V

A=C=P$>?9?8G=B:=P?PE3$?LB<;O=P?PE3$=@?$8:n<A;<DE3$D?A?GMP$G:8sOJV

;O=AJO$>G<$WA?P$>G:B?$R?9:A:IJAB?B:AH$?$;:8;:T=;<<$9?>?C;<A=CH;?I

C<L?$>?BA?G;?I$JE9=L;?I$WDJ>=GA<8M(

�JC<$ JE9=L;:O$ WDJ>=GA<8:$ >G?<8B?9<C:JH$ >?$ R?9:A:IJABE$ >?A=GV

>=Br=@?$C<L?$B$?A;?r=;<<$>?A=G>=Br=@?$<$,<C</$JB<9=A=CO3$A?$<P$A:DV

K=$>G=9sOBCO=AJO$8:DCfT=;<=$WDJ>=GA:(

cG<$;=9?JA:A?T;?I$OJ;?JA<$<C<$>?C;?A=$ 8:DCfT=;<O$WDJ>=GA:3$:

A:DK=$ >G<$ B?8;<D;?B=;<<$ ;?BMR$ B?>G?J?B$ B$ ?A;?r=;<<$ G:;==$ <JV

JC=9?B:;;MR$ ?LJA?OA=CHJAB$ E@?C?B;?@?$ 9=C:$ P?K=A$ LMAH$ ;:8;:T=;:

9?>?C;<A=CH;:O$ JE9=L;:O$ WDJ>=GA<8:3$ >G?<8B?9JAB?$ D?A?G?I$ >?GEV

T:=AJO$A?PE$K=$<C<$9GE@?PE$WDJ>=GAE(

b$JCET:OR$B?8;<D;?B=;<O$J?P;=;<I$B$?L?J;?B:;;?JA<$8:DCfT=;<O

WDJ>=GA:$<C<$;:C<T<O$>G?A<B?G=T<I$B$BMB?9:R$WDJ>=GA:$<C<$WDJ>=GV

A?B$>?$A=P$K=$B?>G?J:P$P?K=A$LMAH$;:8;:T=;:$>?BA?G;:O$WDJ>=GA<8:3

>G?<8B?9JAB?$D?A?G?I$>?GET:=AJO$9GE@?PE$WDJ>=GAE(

"=IJABEfn<I$/02h;234'(NC0(K"44L2#$3E5*'(;"'4*MW$ A:DK=$E9=V

CO=A$8;:T<A=CH;?=$B;<P:;<=$>G?Q=9EG=$;:8;:T=;<O$WDJ>=GA<8M$<$JA:V

AEJE$WDJ>=GA:(

p:D?;$@C:J<A3$TA?$>G<$B?8;<D;?B=;<<$B$>G?Q=JJ=$G:JJP?AG=;<O$@G:KV

9:;JD?@?$9=C:$B?>G?J?B3$AG=LEfn<R$J>=Q<:CH;MR$8;:;<I$B$G:8C<T;MR

?LC:JAOR$;:ED<3$A=R;<D<3$<JDEJJAB:3$G=P=JC:3$JE9$;:8;:T:=A$WDJ>=GA<8E(

cG?B=9=;<=$WDJ>=GA<8M$P?K=A$LMAH$>?GET=;?$JE9=L;?VWDJ>=GA;?PE$ETV

G=K9=;<f3$D?;DG=A;?PE$WDJ>=GAE$<C<$;=JD?CHD<P$WDJ>=GA:P(

�JC<$ JE9=L;:O$ WDJ>=GA<8:$ >G?<8B?9<AJO$ B;=$ WDJ>=GA;?@?$ ETG=KV

9=;<O3$ A?$ JC=9?B:A=CH$ BGET:=A$ >?JA:;?BC=;<=$ <$ ;=?LR?9<PM=$ P:A=V

G<:CM$ WDJ>=GAE$ <$ G:8sOJ;O=A$ =PE$ >G:B:$ <$ ?AB=AJAB=;;?JAH3$ >G=9EJV

P?AG=;;M=$JA:AH=I$6'$!c#$SF(

ZDJ>=GA$ B>G:B=$ B?8BG:A<AH$ L=8$ <J>?C;=;<O$ >?JA:;?BC=;<=3$ =JC<

>G=9JA:BC=;;MR$P:A=G<:C?B$;=9?JA:A?T;?$9CO$>G?<8B?9JAB:$JE9=L;?I

WDJ>=GA<8M$<C<$?;$JT<A:=A3$TA?$;=$?LC:9:=A$9?JA:A?T;MP<$8;:;<OP<

9CO$==$>G?<8B?9JAB:(

#?P<JJ<?;;:O$JE9=L;:O$WDJ>=GA<8:$>G?<8B?9<AJO$;=$P=;==$T=P$9BEV

PO$ WDJ>=GA:P<$ ?9;?I$ J>=Q<:CH;?JA<($ #?P<JJ<?;;MI$ R:G:DA=G$ WDJV

>=GA<8M$?>G=9=CO=AJO$JC=9?B:A=C=P$C<L?$GED?B?9<A=C=P$WDJ>=GA;?@?

ETG=K9=;<O3$D?A?G?PE$>?GET=;?$>G?<8B?9JAB?$JE9=L;?I$WDJ>=GA<8M(

�JC<$>?$G=8ECHA:A:P$>G?B=9=;;MR$<JJC=9?B:;<I$P;=;<O$WDJ>=GA?B

>?$>?JA:BC=;;MP$B?>G?J:P$J?B>:9:fA3$ A?$<P<$J?JA:BCO=AJO$ =9<;?=

8:DCfT=;<=($b$JCET:=$B?8;<D;?B=;<O$G:8;?@C:J<I$D:K9MI$<8$WDJ>=GV

A?B3$ET:JAB?B:Br<R$B$>G?<8B?9JAB=$JE9=L;?I$WDJ>=GA<8M3$9:=A$?A9=CHV

;?=$8:DCfT=;<=$>?$B?>G?J:P3$BM8B:Br<P$G:8;?@C:J<=(

[E9=L;:O$WDJ>=GA<8:3$B$>G?<8B?9JAB=$D?A?G?I$ET:JABEfA$WDJ>=GAM

G:8;MR$J>=Q<:CH;?JA=I3$OBCO=AJO$D?P>C=DJ;?I(

b$8:DCfT=;<<$WDJ>=GA?B3$ET:JABEfn<R$B$>G?<8B?9JAB=$D?P>C=DJV

;?I$JE9=L;?I$WDJ>=GA<8M3$ED:8MB:=AJO3$D:D<=$<JJC=9?B:;<O$<$B$D:D?P

?Ls=P=$>G?B=C$D:K9MI$WDJ>=GA3$D:D<=$N:DAM$?;$EJA:;?B<C$<$D$D:D<P

BMB?9:P$ >G<r=C($ #:K9MI$ WDJ>=GA3$ ET:JAB?B:Br<I$ B$ >G?<8B?9JAB=

D?P>C=DJ;?I$JE9=L;?I$WDJ>=GA<8M3$>?9><JMB:=A$AE$T:JAH$8:DCfT=;<O3

D?A?G:O$J?9=GK<A$?><J:;<=$>G?B=9=;;MR$<P$<JJC=9?B:;<I3$<$;=J=A$8:

;==$?AB=AJAB=;;?JAH(

[C=9?B:A=CH$B>G:B=$>?CET<AH$?LG:8QM$>?T=GD:$<C<$<;M=$?LG:8QM

9CO$JG:B;<A=CH;?@?$<JJC=9?B:;<O$E$>?9?8G=B:=P?@?3$?LB<;O=P?@?3$:

A:DK=$E$JB<9=A=CO$<C<$>?A=G>=Br=@?$B$JCET:OR3$D?@9:$B?8;<DC:$;=?LV

R?9<P?JAH$>G?B=G<AH3$?JA:BC=;M$C<$<P<$JC=9M$B$?>G=9=C=;;?P$P=JA=

<C<$;:$B=n=JAB=;;MR$9?D:8:A=CHJAB:R3$<$J?JA:B<AH$>G?A?D?C$B$J??AV

B=AJAB<<$J?$JA:AHOP<$-11$<$-1'$!c#$SF3$8:$<JDCfT=;<=P$AG=L?B:;<O

?L$ET:JA<<$>?;OAMR(

cG<$>?CET=;<<$?LG:8Q?B$9CO$JG:B;<A=CH;?@?$<JJC=9?B:;<O$;=$9?CV

K;M$>G<P=;OAHJO$P=A?9M3$?>:J;M=$9CO$K<8;<$<$89?G?BHO$T=C?B=D:$<C<

E;<K:fn<=$=@?$T=JAH$<$9?JA?<;JAB?(

X$ >?CET=;<<$ ?LG:8Q?B$ 9CO$ JG:B;<A=CH;?@?$ <JJC=9?B:;<O$ JC=9?V

B:A=CH$ BM;?J<A$ >?JA:;?BC=;<=($ b$ ;=?LR?9<PMR$ JCET:OR$ >?CET=;<=

?LG:8Q?B$>G?<8B?9<AJO$J$ET:JA<=P$J>=Q<:C<JA?B(

�JC<$ >?CET=;<=$ ?LG:8Q?B$ 9CO$ JG:B;<A=CH;?@?$ <JJC=9?B:;<O$ OBV

CO=AJO$T:JAHf$JE9=L;?I$WDJ>=GA<8M3$A?$?;?$>G?<8B?9<AJO$WDJ>=GA?P(

b$WA?P$JCET:=$JB=9=;<O$?$>G?<8B?9JAB=$ED:8:;;?@?$9=IJAB<O$WDJ>=GA

?AG:K:=A$B$JB?=P$8:DCfT=;<<(

hh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

hI

1$+/0

)*6

-#4

%/)#&

+,

#?P>C=DJ;:O$WDJ>=GA<8:$;:8;:T:=AJO$JE9?P3$=JC<$EJA:;?BC=;<=$?LJV

A?OA=CHJAB$>?$9=CE$AG=LE=A$?9;?BG=P=;;?@?$>G?B=9=;<O$<JJC=9?B:;<I

J$<J>?CH8?B:;<=P$G:8C<T;MR$?LC:JA=I$8;:;<O$<C<$J$<J>?CH8?B:;<=P

G:8C<T;MR$;:ET;MR$;:>G:BC=;<I$B$>G=9=C:R$?9;?I$?LC:JA<$8;:;<O(

#?P>C=DJ;:O$ WDJ>=GA<8:$ >?GET:=AJO$ ;=JD?CHD<P$ WDJ>=GA:P($ c?

G=8ECHA:A:P$>G?B=9=;;MR$<JJC=9?B:;<I$WDJ>=GAM$N?GPEC<GEfA$?LV

n<I$BMB?9$?L$?LJA?OA=CHJAB:R$<$<8C:@:fA$=@?$B$8:DCfT=;<<3$D?A?G?=

>?9><JMB:=AJO$BJ=P<$WDJ>=GA:P<(

ZDJ>=GAM3$D?A?GM=$;=$ET:JAB?B:C<$B$N?GPEC<G?B:;<<$?Ln=@?$BMV

B?9:$ <C<$ ;=$ J?@C:J;M$ J$ ;<P3$ >?9><JMB:fA$ A?CHD?$ JB?f$ <JJC=9?V

B:A=CHJDEf$T:JAH$8:DCfT=;<O(

#?P<JJ<?;;:O$WDJ>=GA<8:$;:8;:T:=AJO$JE9?P$9CO$EJA:;?BC=;<O$?LV

JA?OA=CHJAB$9BEPO$<C<$L?C==$WDJ>=GA:P<$B$?9;?I$?LC:JA<$8;:;<O(

ZDJ>=GAM$ J?B=n:fAJO$ P=K9E$ J?L?I$ <3$ >G<9O$ D$ ?Ln=PE$ BMB?9E3

N?GPEC<GEfA$=@?$<$>?9><JMB:fA$8:DCfT=;<=(

ZDJ>=GA3$;=$J?@C:J;MI$J$9GE@<P$WDJ>=GA?P$<C<$9GE@<P<$WDJ>=GA:P<3

B>G:B=$9:AH$?A9=CH;?=$8:DCfT=;<=$>?$BJ=P$<C<$?A9=CH;MP$B?>G?J:P3

BM8B:Br<P$G:8;?@C:J<O(

ZDJ>=GA<8:$ >G?B?9<AJO$ WDJ>=GA:P<$ JE9=L;?VWDJ>=GA;MR$ ETG=KV

9=;<I$>?$>?GET=;<f$GED?B?9<A=C=I$WA<R$ETG=K9=;<I$<C<$<;MP<$WDJV

>=GA:P<3$D?A?GMP$?;:$>?GET=;:$JE9?P(

ZDJ>=GA<8:$>G?B?9<AJO$B$ JE9=L;?P$8:J=9:;<<$<C<$B;=$ 8:J=9:;<O3

=JC<$ WA?$ ;=?LR?9<P?$ >?$ R:G:DA=GE$ <JJC=9?B:;<I$ C<L?$ >G<$ ;=B?8V

P?K;?JA<$<C<$8:AGE9;=;<<$9?JA:B<AH$P:A=G<:CM$<C<$9?DEP=;AM$9CO

<JJC=9?B:;<O$B$8:J=9:;<<(

Y<Q:3$ET:JABEfn<=$B$9=C=3$B>G:B=$>G<JEAJAB?B:AH$>G<$>G?B=9=;<<

WDJ>=GA<8M3$8:$<JDCfT=;<=P$JCET:=B3$D?@9:$A:D?=$>G<JEAJAB<=$P?K=A

>?P=r:AH$<JJC=9?B:;<f3$J?B=n:;<f$WDJ>=GA?B$<$J?JA:BC=;<f$8:DCfV

T=;<O(

c?P<P?$?LO8:;;?JA=I$WDJ>=GA:3$EJA:;?BC=;;MR$8:D?;?P$dX$@?JEV

9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<$B$SFe3$B$@G:K9:;JD?P

>G?Q=JJ=$WDJ>=GA$?LO8:;$OBCOAHJO$>?$BM8?BE$JE9:$9CO$C<T;?@?$ET:JA<O

B$JE9=L;?P$8:J=9:;<<$<$?AB=T:AH$;:$B?>G?JM3$JBO8:;;M=$J$>G?B=9=;V

;MP$<JJC=9?B:;<=P$<$9:;;MP$<P$8:DCfT=;<=P(

ZDJ>=GA$ ?L=J>=T<B:=A$ J?RG:;;?JAH$ >G=9JA:BC=;;MR$ =PE$ 9CO$ <JV

JC=9?B:;<O$P:A=G<:C?B$<$9?DEP=;A?B$<$B?8BG:n:=A$<R$B$JE9$BP=JA=$J

8:DCfT=;<=P$<C<$J??Ln=;<=P$?$;=B?8P?K;?JA<$9:AH$8:DCfT=;<=(

b$JCET:=$;=BM>?C;=;<O$AG=L?B:;<O$JE9:3$;:8;:T<Br=@?$WDJ>=GA<V

8E3$?$;:>G:BC=;<<$8:DCfT=;<O$WDJ>=GA:$B$JE9$B$JG?D3$EJA:;?BC=;;MI$B

?>G=9=C=;<<$?$;:8;:T=;<<$WDJ>=GA<8M3$>G<$?AJEAJAB<<$P?A<B<G?B:;V

;?@?$J??Ln=;<O$WDJ>=GA:$<C<$JE9=L;?VWDJ>=GA;?@?$ETG=K9=;<O$?$;=V

B?8P?K;?JA<$ JB?=BG=P=;;?@?$ >G?B=9=;<O$ WDJ>=GA<8M$ C<L?$ ?$ ;=B?8V

P?K;?JA<$ >G?B=9=;<O$ WDJ>=GA<8M3$ JE9?P$ ;:$ GED?B?9<A=CO$ JE9=L;?V

#:K9:O$<8$JA?G?;$<$9GE@<=$C<Q:3$ET:JABEfn<=$B$9=C=3$B>G:B=$>G=9V

JA:B<AH$JE9E$B?>G?JM3$>?9C=K:n<=$G:8G=r=;<f$>G<$>G?B=9=;<<$WDJV

>=GA<8M($XD?;T:A=CH;MI$DGE@$B?>G?J?B3$>?$D?A?GMP$AG=LE=AJO$ 8:DV

CfT=;<=$ WDJ>=GA:3$ ?>G=9=CO=AJO$ JE9?P($ XADC?;=;<=$ >G=9C?K=;;MR

B?>G?J?B$JE9$?LO8:;$P?A<B<G?B:AH(

[A?G?;M3$9GE@<=$C<Q:3$ET:JABEfn<=$B$9=C=3$<P=fA$>G:B?$>G?J<AH

JE9$;:8;:T<AH$>G?B=9=;<=$WDJ>=GA<8M$B$D?;DG=A;?P$JE9=L;?VWDJ>=GAV

;?P$ETG=K9=;<<$<C<$>?GET<AH$==$D?;DG=A;?PE$WDJ>=GAE^$8:OBCOAH$?AV

B?9$ WDJ>=GAE^$ N?GPEC<G?B:AH$ B?>G?JM$ 9CO$ WDJ>=GA:^$ 8;:D?P<AHJO$ J

?>G=9=C=;<=P$JE9:$?$;:8;:T=;<<$WDJ>=GA<8M$<$J?$JN?GPEC<G?B:;;MV

P<$B$;=P$B?>G?J:P<^$8;:D?P<AHJO$J$8:DCfT=;<=P$WDJ>=GA:^$R?9:A:IV

JAB?B:AH$>=G=9$JE9?P$?$;:8;:T=;<<$>?BA?G;?I3$9?>?C;<A=CH;?I3$D?PV

>C=DJ;?I$<C<$D?P<JJ<?;;?I$WDJ>=GA<8M(

cG<$EDC?;=;<<$JA?G?;M$?A$ET:JA<O$B$WDJ>=GA<8=3$;=>G=9JA:BC=;<<

WDJ>=GA:P$;=?LR?9<PMR$P:A=G<:C?B$<$9?DEP=;A?B$9CO$<JJC=9?B:;<O

<$B$<;MR$JCET:OR3$ =JC<$>?$?LJA?OA=CHJAB:P$9=C:$<$L=8$ET:JA<O$ WA?I

JA?G?;M$WDJ>=GA<8E$>G?B=JA<$;=B?8P?K;?3$JE9$B$8:B<J<P?JA<$?A$A?@?3

D:D:O$JA?G?;:$EDC?;O=AJO$?A$ WDJ>=GA<8M3$:$A:DK=$D:D?=$9CO$;==$?;:

<P==A$ 8;:T=;<=3$B>G:B=$>G<8;:AH$N:DA3$9CO$BMOJ;=;<O$D?A?G?@?$WDJV

>=GA<8:$LMC:$;:8;:T=;:3$EJA:;?BC=;;MP$<C<$?>G?B=G@;EAMP(

b$?>G=9=C=;<<$?$;:8;:T=;<<$WDJ>=GA<8M$JE9$ED:8MB:=A$;:<P=;?B:V

;<=$JE9:^$9:AE$;:8;:T=;<O$WDJ>=GA<8M$<$9:AE3$;=$>?89;==$D?A?G?I$8:DV

CfT=;<=$9?CK;?$LMAH$J?JA:BC=;?$<$;:>G:BC=;?$WDJ>=GA?P$B$JE93$;:V

8;:T<Br<I$ WDJ>=GA<8E^$ ;:<P=;?B:;<O$ JA?G?;$ >?$ G:JJP:AG<B:=P?PE

9=CE^$;:<P=;?B:;<=$WDJ>=GA<8M^$N:DAM3$9CO$>?9AB=GK9=;<O$<C<$?>G?V

B=GK=;<O$ D?A?GMR$ ;:8;:T:=AJO$ WDJ>=GA<8:^$ B?>G?JM3$ >?JA:BC=;;M=

>=G=9$WDJ>=GA?P^$N:P<C<f3$<PO$<$?AT=JAB?$WDJ>=GA:$C<L?$;:<P=;?B:V

;<=$WDJ>=GA;?@?$ETG=K9=;<O3$D?A?G?PE$>?GET:=AJO$>G?B=9=;<=$WDJ>=GV

A<8M^$>G=9JA:BC=;;M=$WDJ>=GAE$P:A=G<:CM$<$9?DEP=;AM$9CO$JG:B;<V

A=CH;?@?$<JJC=9?B:;<O^$?J?LM=$EJC?B<O$?LG:n=;<O$J$;<P<$>G<$<JJC=V

9?B:;<<3$=JC<$?;<$;=?LR?9<PM^$;:<P=;?B:;<=$JA?G?;M3$D?A?G:O$>G?V

<8B?9<A$?>C:AE$WDJ>=GA<8M(

b$?>G=9=C=;<<$JE9:$A:DK=$ED:8MB:=AJO3$TA?$8:$9:TE$8:B=9?P?$C?KV

;?@?$8:DCfT=;<O$WDJ>=GA$>G=9E>G=K9:=AJO$JE9?P$<C<$GED?B?9<A=C=P

JE9=L;?VWDJ>=GA;?@?$ETG=K9=;<O3$=JC<$WDJ>=GA<8:$>G?B?9<AJO$J>=Q<V

:C<JA?P$WA?@?$ETG=K9=;<O3$?L$?AB=AJAB=;;?JA<3$>G=9EJP?AG=;;?I$!@?V

C?B;MP$D?9=DJ?P$S?JJ<IJD?I$F=9=G:Q<<(

b$JCET:=$?J>:G<B:;<O$>?9C<;;?JA<$>?9><J<$;:$9?DEP=;A=$<C<$<;?P

><JHP=;;?P$9?D:8:A=CHJAB=$C<Q?P3$>?9><JH$D?A?G?@?$<P==AJO$;:$;=P3

JE9$B>G:B=$>?CET<AH$?LG:8QM$>?T=GD:$9CO$>?JC=9Efn=@?$JG:B;<A=CHV

;?@?$ <JJC=9?B:;<O($ X$ ;=?LR?9<P?JA<$ >?CET=;<O$ ?LG:8Q?B$ >?T=GD:

BM;?J<AJO$?>G=9=C=;<=$JE9:(

c?CET=;<=$?LG:8Q?B$>?T=GD:$JE9H=I$<C<$JE9?P$P?K=A$LMAH$>G?V

B=9=;?$J$ET:JA<=P$J>=Q<:C<JA:(

hL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

hM

1$+/0

)*6

-#4

%/)#&

+,

[?@C:J;?$JA:AH=$66$_c#$SF3$WDJ>=GA?P$B$:GL<AG:K;?P$JE9=$OBCO=AV

JO$C<Q?3$?LC:9:fn==$J>=Q<:CH;MP<$8;:;<OP<$>?$D:J:fn<PJO$G:JJP:AV

G<B:=P?@?$9=C:$B?>G?J:P$<$;:8;:T=;;?=$JE9?P$9CO$9:T<$8:DCfT=;<O(

p:D?;$@C:J<A3$TA?$C<Q?3$D?A?G?PE$>?GET=;?$>G?B=9=;<=$WDJ>=GA<V

8M3$?LO8:;?$>?$BM8?BE$:GL<AG:K;?@?$JE9:$OB<AHJO$B$JE9$<$9:AH$?LsV

=DA<B;?=$8:DCfT=;<=$>?$>?JA:BC=;;MP$B?>G?J:P(

ZDJ>=GAE$>G=9?JA:BC=;?$>G:B?$ J$G:8G=r=;<O$:GL<AG:K;?@?$ JE9:

8;:D?P<AHJO$J$P:A=G<:C:P<$9=C:3$ET:JAB?B:AH$B$JE9=L;MR$8:J=9:;<OR3

8:9:B:AH$B?>G?JM$C<Q:P3$ET:JABEfn<P$B$9=C=3$<$JB<9=A=COP3$8:OBCOAH

R?9:A:IJAB?$?$>G=9JA:BC=;<<$=PE$9?>?C;<A=CH;MR$P:A=G<:C?B(

p:$ 9:TE$ 8:B=9?P?$ C?K;?@?$ 8:DCfT=;<O$ WDJ>=GA$ ;=J=A$ E@?C?B;Ef

?AB=AJAB=;;?JAH3$?$T=P$?;$>G=9E>G=K9:=AJO$:GL<AG:K;MP$JE9?P$<$9:=A

>?9><JDE(

[?@C:J;?$ >?C?K=;<OP$ JA:AH<$ *+$ _c#$ SF3$ 9CO$ G:8sOJ;=;<O$ B?8V

;<D:fn<R$>G<$G:JJP?AG=;<<$9=C:$B?>G?J?B3$AG=LEfn<R$J>=Q<:CH;MR

8;:;<I3$:GL<AG:K;MI$JE9$;:8;:T:=A$WDJ>=GA<8E$>?$R?9:A:IJABE$C<Q:3

ET:JABEfn=@?$B$9=C=3$<C<$J$J?@C:J<O$C<Q3$ET:JABEfn<R$B$9=C=($b$JCEV

T:=3$ =JC<$ ;:8;:T=;<=$ WDJ>=GA<8M$ >G=9><J:;?$ 8:D?;?P$ <C<$ >G=V

9EJP?AG=;?$ 9?@?B?G?P$ C<L?$ ;=?LR?9<P?$ 9CO$ >G?B=GD<$ 8:OBC=;<O$ ?

N:CHJ<N<D:Q<<$ >G=9JA:BC=;;?@?$ 9?D:8:A=CHJAB:$ C<L?$ =JC<$ ;=?LR?V

9<P?$ >G?B=9=;<=$ 9?>?C;<A=CH;?I$ <C<$ >?BA?G;?I$ WDJ>=GA<8M3$ :GV

L<AG:K;MI$JE9$P?K=A$;:8;:T<AH$WDJ>=GA<8E$>?$JB?=I$<;<Q<:A<B=(

#GE@$<$J?9=GK:;<=$B?>G?J?B3$>?$D?A?GMP$9?CK;:$LMAH$>G?B=9=;:

WDJ>=GA<8:3$ BJ=@9:$?>G=9=COfAJO$ J:P<P$:GL<AG:K;MP$JE9?P($Y<Q:3

ET:JABEfn<=$B$9=C=3$B>G:B=$>G=9JA:B<AH$B$:GL<AG:K;MI$JE9$B?>G?JM3

D?A?GM=$9?CK;M$LMAH$G:8sOJ;=;M$>G<$>G?B=9=;<<$WDJ>=GA<8M($XAV

DC?;=;<=$B?>G?J?B3$>G=9JA:BC=;;MR$C<Q:P<3$ET:JABEfn<P<$B$9=C=3

JE9$?LO8:;$P?A<B<G?B:AH(

Y<Q:3$ET:JABEfn<=$B$9=C=3$B>G:B=$R?9:A:IJAB?B:AH$?$>G<BC=T=;<<

B$D:T=JAB=$WDJ>=GA?B$ED:8:;;MR$<P<$C<Q$<C<$?$>G?B=9=;<<$WDJ>=GA<8M

B$D?;DG=A;?P$WDJ>=GA;?P$ETG=K9=;<<3$8:OBCOAH$?AB?9$WDJ>=GAE^$R?9:V

A:IJAB?B:AH$?$B;=J=;<<$B$?>G=9=C=;<=$?$;:8;:T=;<<$WDJ>=GA<8M$9?V

>?C;<A=CH;MR$B?>G?J?B3$>?JA:BC=;;MR$>=G=9$WDJ>=GA?P^$9:B:AH$?LsOJV

;=;<O$WDJ>=GAE^$8;:D?P<AHJO$J$8:DCfT=;<=P$WDJ>=GA:$<C<$J??Ln=;<=P

?$ ;=B?8P?K;?JA<$ 9:AH$ 8:DCfT=;<=^$ R?9:A:IJAB?B:AH$ ?$ >G?B=9=;<<

9?>?C;<A=CH;?I$<C<$>?BA?G;?I$WDJ>=GA<8M(

X$;:8;:T=;<<$WDJ>=GA<8M$<C<$?L$?ADC?;=;<<$R?9:A:IJAB:$?$;:8;:V

T=;<<$WDJ>=GA<8M$:GL<AG:K;MI$JE9$BM;?J<A$?>G=9=C=;<=(

b$?>G=9=C=;<<$?$;:8;:T=;<<$WDJ>=GA<8M$9?CK;M$LMAH$?LO8:A=CHV

;?$ ED:8:;M$ ?J;?B:;<O$ 9CO$ ;:8;:T=;<O$ WDJ>=GA<8M^$ N:P<C<O3$ <PO$ <

?AT=JAB?$WDJ>=GA:$<C<$;:<P=;?B:;<=$WDJ>=GA;?@?$ETG=K9=;<O3$B$D?V

A?G?P$9?CK;:$LMAH$>G?B=9=;:$WDJ>=GA<8:^$B?>G?JM3$>?JA:BC=;;M=$>=V

G=9$WDJ>=GA?P^$P:A=G<:CM$<$9?DEP=;AM3$>G=9?JA:BCO=PM=$B$G:J>?GOV

WDJ>=GA;?@?$ETG=K9=;<O$<C<$B<;?B;?@?$B$ED:8:;;MR$;:GEr=;<OR$WDJV

>=GA:$;:C:@:=AJO$rAG:N$B$G:8P=G=$9?$>OA<$AMJOT$GELC=I(

ZDJ>=GA$<C<$JE9=L;?VWDJ>=GA;?=$ETG=K9=;<=$;=$B>G:B=$?AD:8:AHJO

?A$>G?B=9=;<O$>?GET=;;?I$<P$WDJ>=GA<8M$B$EJA:;?BC=;;MI$JE9?P$JG?D3

P?A<B<GEO$WA?$?AD:8?P$JA?G?;M$>G?<8B=JA<$?>C:AE$WDJ>=GA<8M$9?$==

>G?B=9=;<O($b$JCET:=$?AD:8:$JA?G?;M$?A$>G=9B:G<A=CH;?I$?>C:AM$WDV

J>=GA<8M$WDJ>=GA$<C<$JE9=L;?VWDJ>=GA;?=$ETG=K9=;<=$?LO8:;M$>G?B=V

JA<$;:8;:T=;;Ef$JE9?P$WDJ>=GA<8E$<$BP=JA=$J$8:OBC=;<=P$?$B?8P=n=V

;<<$>?;=J=;;MR$G:JR?9?B$;:>G:B<AH$8:DCfT=;<=$WDJ>=GA:$B$JE9$J$9?V

DEP=;A:P<3$>?9AB=GK9:fn<P<$G:JR?9M$;:$>G?B=9=;<=$WDJ>=GA<8M3$9CO

G=r=;<O$JE9?P$B?>G?J:$?$B?8P=n=;<<$WA<R$G:JR?9?B$ J??AB=AJABEfV

n=I$JA?G?;?I(

4c#$ SF$ >G=9EJP:AG<B:=A$ JC=9Efn<=$ >G:B:$ WDJ>=GA:3$ >GOP?$ ;=

?AG:K=;;M=$B$8:D?;=$dX$@?JE9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CHV

;?JA<e\$>?JD?CHDE$WA?$;=?LR?9<P?$9CO$9:T<$8:DCfT=;<O3$WDJ>=GA$<P=V

=A$>G:B?$8;:D?P<AHJO$J$P:A=G<:C:P<$9=C:3$?A;?JOn<P<JO$D$>G=9P=AE

WDJ>=GA<8M^$>G?J<AH$JE9$?$>G=9?JA:BC=;<<$=PE$9?>?C;<A=CH;MR$P:V

A=G<:C?B$<$9?DEP=;A?B$9CO$<JJC=9?B:;<O^$ 8:9:B:AH$B$ JE9=L;?P$8:J=V

9:;<<$B?>G?JM$C<Q:P3$ET:JABEfn<P$B$9=C=3$<$JB<9=A=COP(

b$JCET:=3$=JC<$WDJ>=GA$>G<$>G?B=9=;<<$WDJ>=GA<8M$>?$@G:K9:;JD?PE

9=CE$EJA:;?B<A$<P=fn<=$8;:T=;<=$9CO$G:JJP?AG=;<O$<$G:8G=r=;<O$9=C:

?LJA?OA=CHJAB:3$>?$>?B?9E$D?A?GMR$=PE$;=$LMC<$>?JA:BC=;M$B?>G?JM3

?;$B>G:B=$BDCfT<AH$BMB?9M$?L$WA<R$?LJA?OA=CHJAB:R$B$JB?=$8:DCfT=;<=(

p:DCfT=;<=$WDJ>=GA:$9CO$JE9:$;=?LO8:A=CH;?$<$?Q=;<B:=AJO$JE9?P

;:GO9E$J$9GE@<P<$9?D:8:A=CHJAB:P<($U=J?@C:J<=$JE9:$J$8:DCfT=;<=P

9?CK;?$LMAH$P?A<B<G?B:;?$B$G=r=;<<$<C<$?>G=9=C=;<<$JE9:(

U:$BG=PO$>G?B=9=;<O$WDJ>=GA<8M$>G?<8B?9JAB?$>?$9=CE$P?K=A$LMAH

>G<?JA:;?BC=;?(

b$JCET:OR$;=9?JA:A?T;?I$OJ;?JA<$<C<$;=>?C;?AM$8:DCfT=;<O$WDJV

>=GA:$ JE9$P?K=A$;:8;:T<AH$9?>?C;<A=CH;Ef$WDJ>=GA<8E3$>?GET<B$==

>G?B=9=;<=$A?PE$K=$<C<$9GE@?PE$WDJ>=GAE(

b$ JBO8<$ J$ B?8;<Dr<P<$ J?P;=;<OP<$ B$ >G:B<CH;?JA<$ <C<$ ?L?J;?V

B:;;?JA<$G:;==$9:;;?@?$ 8:DCfT=;<O3$;:C<T<=P$>G?A<B?G=T<I$B$ 8:DV

CfT=;<OR$;=JD?CHD<R$WDJ>=GA?B$JE9$P?K=A$;:8;:T<AH$>?$A=P$K=$B?>V

G?J:P$>?BA?G;Ef$WDJ>=GA<8E3$>G?B=9=;<=$D?A?G?I$>?GET:=AJO$9GE@?V

PE$WDJ>=GAE$<C<$9GE@<P$WDJ>=GA:P(

b$?>G=9=C=;<<$JE9:$?$;:8;:T=;<<$9?>?C;<A=CH;?I$<C<$>?BA?G;?I

WDJ>=GA<8M$9?CK;M$LMAH$<8C?K=;M$P?A<BM$;=J?@C:J<O$JE9:$J$G:;==

9:;;MP$8:DCfT=;<=P$WDJ>=GA:$<C<$WDJ>=GA?B(

[A:AEJ$WDJ>=GA:$<$>?GO9?D$;:8;:T=;<O$WDJ>=GA<8M$>?9G?L;?$G=@V

C:P=;A<G?B:;M$B$9=IJABEfn=P$ -01&=02h3(NC0(K"44L2#$3(J*'(;"'4"

M(44&54'(5*W";"02K&&(

hO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

hP

1$+/0

)*6

-#4

%/)#&

+,

cG<$;=9?JA:A?T;?I$OJ;?JA<$<C<$>?C;?A=$8:DCfT=;<O$WDJ>=GA:3$:$A:DV

K=$>G<$B?8;<D;?B=;<<$B?>G?J?B$B$?A;?r=;<<$G:;==$<JJC=9?B:;;MR$?LV

JA?OA=CHJAB$9=C:$P?K=A$LMAH$;:8;:T=;:$9?>?C;<A=CH;:O$WDJ>=GA<8:3

>G?B=9=;<=$D?A?G?I$>?GET:=AJO$A?PE$K=$<C<$9GE@?PE$WDJ>=GAE(

#?9=DJ$ M(44&54'(5* W";"02K&&* (1* 2;J&3&4=02=&)3EF* C02)(32N

0La"3&AF3$>G<;OAMI$%2$9=D:LGO$+22-$@?9:3$B>=GBM=$E8:D?;<C$:DA<B;?=

ET:JA<=$WDJ>=GA:$B$:9P<;<JAG:A<B;?P$>G?Q=JJ=(

[?@C:J;?$JA:AH=$+1(&($#?_c$SF3$B$JCET:OR3$=JC<$>G<$>G?<8B?9JAB=

>?$ 9=CE$ ?L$ :9P<;<JAG:A<B;?P$ >G:B?;:GEr=;<<$ B?8;<D:=A$ ;=V

?LR?9<P?JAH$B$<J>?CH8?B:;<<$J>=Q<:CH;MR$>?8;:;<I$B$;:ED=3$A=R;<D=3

<JDEJJAB=$<C<$G=P=JC=3$JE9HO3$?G@:;3$9?CK;?JA;?=$C<Q?3$B$>G?<8B?9JAB=

D?A?GMR$;:R?9<AJO$9=C?3$BM;?JOA$?>G=9=C=;<=$?$;:8;:T=;<<$WDJ>=GV

A<8M($X>G=9=C=;<=$?LO8:A=CH;?$9CO$<J>?C;=;<O$WDJ>=GA:P<$<C<$ETV

G=K9=;<OP<3$D?A?GMP$>?GET=;?$>G?B=9=;<=$WDJ>=GA<8M($b$?>G=9=C=V

;<<$ED:8MB:fAJO\

-/l?J;?B:;<O$9CO$;:8;:T=;<O$WDJ>=GA<8M^

+/lN:P<C<O3$<PO3$?AT=JAB?$WDJ>=GA:$<C<$;:<P=;?B:;<=$ETG=K9=;<O3

B$D?A?G?P$9?CK;:$LMAH$>G?B=9=;:$WDJ>=GA<8:^

%/lB?>G?JM3$>?JA:BC=;;M=$>=G=9$WDJ>=GA?P^

&/l>=G=T=;H$P:A=G<:C?B3$>G=9?JA:BCO=PMR$B$G:J>?GOK=;<=$WDJ>=GA:(

#G?P=$A?@?3$B$?>G=9=C=;<<$9?CK;M$LMAH$8:><J<$?$G:8sOJ;=;<<$WDV

J>=GAE$=@?$>G:B$<$?LO8:;;?JA=I$<$?$>G=9E>G=K9=;<<$=@?$?L$:9P<;<V

JAG:A<B;?I$?AB=AJAB=;;?JA<$8:$9:TE$8:B=9?P?$C?K;?@?$8:DCfT=;<O(

"?$;:>G:BC=;<O$?>G=9=C=;<O$9CO$<J>?C;=;<O$JE9HO3$?G@:;3$9?CKV

;?JA;?=$C<Q?3$B$>G?<8B?9JAB=$D?A?GMR$;:R?9<AJO$9=C?$?L$:9P<;<JAV

G:A<B;?P$>G:B?;:GEr=;<<3$?LO8:;M$?8;:D?P<AH$J$;<P$C<Q?3$B$?A;?V

r=;<<$D?A?G?@?$B=9=AJO$>G?<8B?9JAB?$>?$9=CE$?L$:9P<;<JAG:A<B;?P

>G:B?;:GEr=;<<3$<$>?A=G>=Br=@?3$G:8sOJ;<AH$<P$>G:B:3$B$A?P$T<JC=

>G:B?$8:OBCOAH$?AB?9$WDJ>=GAE3$>G:B?$>G?J<AH$?$>G<BC=T=;<<$B$D:T=V

JAB=$WDJ>=GA:$ED:8:;;MR$<P<$C<Q3$>G:B?$JA:B<AH$B?>G?JM$9CO$9:T<$;:

;<R$?AB=A?B$B$8:DCfT=;<<$WDJ>=GA:(

uG=L?B:;<O$#?_c$SF$D$J?9=GK:;<f$8:DCfT=;<O$WDJ>=GA:$<C<$D?V

P<JJ<<$WDJ>=GA?B$>G:DA<T=JD<$J?B>:9:fA$J$EJA:;?BC=;;MP<$8:D?;?P

dX$@?JE9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<e(

p:DCfT=;<=$WDJ>=GA:$;=$OBCO=AJO$?LO8:A=CH;MP$9CO$JE9H<3$?G@:;:3

9?CK;?JA;?@?$C<Q:3$B$>G?<8B?9JAB=$D?A?GMR$;:R?9<AJO$9=C?$?L$:9P<V

;<JAG:A<B;?P$ >G:B?;:GEr=;<<3$ ?9;:D?$ ;=J?@C:J<=$ J$ 8:DCfT=;<=P

WDJ>=GA:$B$CfL?P$JCET:=$9?CK;?$LMAH$P?A<B<G?B:;?(

XAP=A<P3$TA?$>G?Q=JJ$A=DEn=@?$>G:B?AB?GT=JAB:$>G<B=C$D$ JEn=V

JAB?B:;<f$GO9:$;=J?@C:J?B:;;MR$<$G:89G?LC=;;MR$;?GP3$G=@EC<GEfV

n<R$>G?<8B?9JAB?$WDJ>=GA<83$D?A?GM=$;EK9:fAJO$B$J<JA=P:A<8:Q<<(

K=;<=$WDJ>=GA:^$JG?D3$B$A=T=;<=$D?A?G?@?$9?CK;:$LMAH$>G?B=9=;:$WDJV

>=GA<8:$<$9?CK;?$LMAH$>G=9JA:BC=;?$8:DCfT=;<=$B$:GL<AG:K;MI$JE9(

b$?>G=9=C=;<<$A:DK=$ED:8MB:=AJO$;:$>G=9E>G=K9=;<=$WDJ>=GA:$?L

E@?C?B;?I$?AB=AJAB=;;?JA<$8:$9:TE$8:B=9?P?$C?K;?@?$8:DCfT=;<O(

Y<Q:3$ET:JABEfn<=$B$9=C=3$P?@EA$>G<JEAJAB?B:AH$>G<$>G?B=9=;<<

WDJ>=GA<8M3$8:$<JDCfT=;<=P$JCET:=B3$D?@9:$A:D?=$>G<JEAJAB<=$J>?J?L;?

>?P=r:AH$;?GP:CH;?I$G:L?A=$WDJ>=GA?B3$;?$;=$B>G:B=$BP=r<B:AHJO$B

R?9$<JJC=9?B:;<I(

cG<$ J?JA:BC=;<<$ WDJ>=GA?P$ 8:DCfT=;<O$ <$ ;:$ JA:9<<$ J?B=n:;<O

WDJ>=GA?B$ <$ N?GPEC<G?B:;<O$ BMB?9?B3$ =JC<$ JE9=L;:O$ WDJ>=GA<8:

>G?B?9<AJO$ D?P<JJ<=I$ WDJ>=GA?B3$ >G<JEAJAB<=$ ET:JA;<D?B$ :GL<AV

G:K;?@?$>G?Q=JJ:$;=$9?>EJD:=AJO(

XJ?LMI$JA:AEJ$B$:GL<AG:K;?P$>G?Q=JJ=$<P==A$D?P>C=DJ;:O$WDJ>=GA<V

8:3$>G?B?9<P:O$;=$P=;==$T=P$9BEPO$WDJ>=GA:P<$G:8;MR$J>=Q<:CH;?JA=I(

b$8:DCfT=;<<$A:D?I$WDJ>=GA<8M$ED:8MB:=AJO3$D:D<=$<JJC=9?B:;<O

<$B$D:D?P$?Ls=P=$>G?B=C$D:K9MI$WDJ>=GA3$D:D<=$N:DAM$?;$EJA:;?B<C$<

D$D:D<P$BMB?9:P$>G<r=C($#:K9MI$WDJ>=GA3$ET:JAB?B:Br<I$B$>G?B=V

9=;<<$ D?P>C=DJ;?I$ WDJ>=GA<8M3$ >?9><JMB:=A$ AE$ T:JAH$ 8:DCfT=;<O3

D?A?G:O$J?9=GK<A$?><J:;<=$>G?B=9=;;MR$<P$<JJC=9?B:;<I3$<$;=J=A$8:

;==$?AB=AJAB=;;?JAH($XLn<I$BMB?9$9=C:fA$WDJ>=GAM3$D?P>=A=;A;M=$B

?Q=;D=$>?CET=;;MR$G=8ECHA:A?B$<$N?GPEC<G?B:;<<$9:;;?@?$BMB?9:(

U:$?J;?B:;<<$>G?B=9=;;MR$<JJC=9?B:;<I$<$J$ET=A?P$<R$G=8ECHA:V

A?B$WDJ>=GA$?A$JB?=@?$<P=;<$<C<$D?P<JJ<O$WDJ>=GA?B$9:fA$8:DCfT=;<=

B$><JHP=;;?I$N?GP=$<$>?9><JMB:fA$=@?(

uG=L?B:;<O$_c#$SF$D$J?9=GK:;<f$8:DCfT=;<O$WDJ>=GA:$<C<$D?V

P<JJ<<$WDJ>=GA?B$>G:DA<T=JD<$J?B>:9:fA$J$EJA:;?BC=;;MP<$8:D?;?P

dX$@?JE9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<e(

a:A=G<:CM$<$9?DEP=;AM3$<CCfJAG<GEfn<=$8:DCfT=;<=$WDJ>=GA:

<C<$D?P<JJ<<$WDJ>=GA?B3$>G<C:@:fAJO$D$8:DCfT=;<f$<$JCEK:A$=@?$J?V

JA:B;?I$T:JAHf(

�JC<$WDJ>=GA$>G<$>G?B=9=;<<$WDJ>=GA<8M$EJA:;?B<A$?LJA?OA=CHJAB:3

D?A?GM=$<P=fA$8;:T=;<=$9CO$9=C:$<$>?$>?B?9E$D?A?GMR$=PE$;=$LMC<

>?JA:BC=;M$ B?>G?JM3$ ?;$ B>G:B=$ BDCfT<AH$ BMB?9M$ ?L$ WA<R$ ?LJV

A?OA=CHJAB:R$B$JB?=$8:DCfT=;<=(

p:DCfT=;<=$ WDJ>=GA:$ ?@C:r:=AJO$ B$ JE9=L;?P$ 8:J=9:;<<$ <$ <JJC=V

9E=AJO$;:GO9E$J$9GE@<P<$9?D:8:A=CHJAB:P<$>?$9=CE(

c?$R?9:A:IJABE$C<Q:3$ET:JABEfn=@?$B$9=C=3$<C<$>?$<;<Q<:A<B=$:GV

L<AG:K;?@?$JE9:$WDJ>=GA$P?K=A$LMAH$BM8B:;$B$JE9=L;?=$8:J=9:;<=(

ZDJ>=GA$>?JC=$?@C:r=;<O$=@?$8:DCfT=;<O$B>G:B=$9:AH$>?$;=PE$;=V

?LR?9<PM=$>?OJ;=;<O3$ :$ A:DK=$?LO8:;$?AB=A<AH$;:$9?>?C;<A=CH;M=

B?>G?JM$C<Q3$ET:JABEfn<R$B$9=C=3$<$JE9:($XAB=AM$WDJ>=GA:$;:$9?>?CV

;<A=CH;M=$B?>G?JM$8:;?JOAJO$B$>G?A?D?C$JE9=L;?@?$8:J=9:;<O(

hQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

hR

1$+/0

)*6

-#4

%/)#&

+,

-6$aSXu$,JA($-'()$#?_c$SF/($u:P?K=;;MI$D?9=DJ$;=$>G=9EJP:AG<B:V

=A$?AB=AJAB=;;?JA<$WDJ>=GA:$8:$9:TE$C?K;?@?$8:DCfT=;<O(

S"S"I"` ,@FNaJF=@DX6 YBNZF?EA[D

p:$G:PD:P<$8:D?;:$dX$@?JE9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OV

A=CH;?JA<$B$S?JJ<IJD?I$F=9=G:Q<<e$?JA:C:JH$A:D:O$8;:T<A=CH;:O$T:JAH

JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<3$;=G:8GMB;?$JBO8:;;:O$J$>G?<8B?9V

JAB=;;?I$9=OA=CH;?JAHf$WDJ>=GA;MR$ETG=K9=;<I$>?$E@?C?B;MP$<$@G:KV

9:;JD<P$9=C:P3$D:D$?G@:;<8:Q<O$<$>G?<8B?9JAB?$WDJ>=GA<8$B;=$JE9?>G?V

<8B?9JAB:($c?C=8;MI$:;:C<8$J<JA=P;MR$JB?IJAB$B;=JE9=L;?I$WDJ>=GV

A<8M$D:D$T:JA<$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<$P?K;?$;:IA<$B$E>?V

PO;EA?I$P?;?@G:N<<$9(lf(l;(3$GED?B?9<A=CO$[=B=G?Vp:>:9;?@?$G=@<?V

;:CH;?@?$Q=;AG:$ JE9=L;?I$ WDJ>=GA<8M$ a<;<JA=GJAB:$ fJA<Q<<$ SF

[($_(l[P<G;?B?I(

u:D<=$WDJ>=GA<8M$>G?B?9OAJO$>?$AG=P$?J;?B;MP$;:>G:BC=;<OP$9=V

OA=CH;?JA<3$ BDCfT=;;MP$ B$ ETG=9<A=CH;M=$ 9?DEP=;AM$ WDJ>=GA;MR

ETG=K9=;<I(

-(lcG?<8B?9JAB?$WDJ>=GA<8$<$<JJC=9?B:;<I$>?$8:9:;<OP$>G:B??RV

G:;<A=CH;MR$?G@:;?B$>?$9=C:P3$?A;=J=;;MP$D$<R$B=9=;<f$>G?Q=JJEV

:CH;MP$<$<;MP$8:D?;?9:A=CHJAB?P($u:D<=$ 8:9:;<O$>?JAE>:fA$B$ JEV

9=L;?VWDJ>=GA;?=$ETG=K9=;<=$B;=$JE9?>G?<8B?9JAB:$B$9BER$JCET:OR\

:/l>?$9=C:P3$G:JJP?AG=;<=$D?A?GMR$;=$?A;=J=;?$8:D?;?9:A=CHV

;?$ D$ JE9?>G?<8B?9JABE($ ZA?3$ ;:>G<P=G3$ 9=C:$ ?$ ;:GEr=;<<$ A:P?V

K=;;MR$>G:B<C$<C<$?$;:C?@?BMR$>G:B?;:GEr=;<OR3$8:9:;<O$>?$D?V

A?GMP$>?JAE>:fA$J??AB=AJAB=;;?$?A$A:P?K=;;MR$<$;:C?@?BMR$?GV

@:;?B3$:$A:DK=$9=C:$?L$:9P<;<JAG:A<B;MR$>G:B?;:GEr=;<OR3$G:JV

JP:AG<B:=PM=$;=$JE9:P<3$:$<;MP<$?G@:;:P<$,B;EAG=;;<R$9=C3$>?V

@G:;<T;?I$JCEKLM3$L=8?>:J;?JA<3$S?JD?P;:98?G:3$>?K:G;?@?$;:9V

8?G:$<$9G(/(

L/l;:$9BER$ JA:9<OR3$?DGEK:fn<R$>G?Q=JJ$ JE9?>G?<8B?9JAB:\$B

R?9=$9?JC=9JAB=;;?I$>G?B=GD<3$>G=9r=JABEfn=I$B?8LEK9=;<f$E@?V

C?B;?@?$9=C:3$<$;:$ JA:9<<$<J>?C;<A=CH;?@?$>G?<8B?9JAB:3$>?JC=

BJAE>C=;<O$G=r=;<O$>?$9=CE$B$8:D?;;Ef$J<CE($XAGMB:AH$WDJ>=GAV

;Ef$ 9=OA=CH;?JAH$ B$ ED:8:;;MR$ J<AE:Q<OR$ ?A$ JE9=L;?VWDJ>=GA;?I

9=OA=CH;?JA<$LMC?$LM$;=C?@<T;?3$>G=K9=$BJ=@?$>?A?PE3$TA?$B$>G?V

Q=JJ=$ G:JJP?AG=;<O$ A:D<R$ 9=C3$ BDCfT:O$ G=8ECHA:AM$ >G?B=9=;;?I

WDJ>=GA<8M3$B$9=IJAB<OR$;:GEr<A=CO$P?K=A$LMAH$?L;:GEK=;$J?JA:B

>G=JAE>C=;<O3$P?@EA$A:DK=$BMOB<AHJO$?J;?B:;<O$9CO$>G=9sOBC=;<O

JE9=L;?@?$<JD:($b$G=8ECHA:A=$A:D?=$WDJ>=GA;?=$<JJC=9?B:;<=$,C<L?

=@?$>?BA?G=;<=$B$G:PD:R$;?B?@?$9=C:/$P?K=A$JA:AH$JE9=L;MP$9?D:V

8:A=CHJAB?P$<$B$>G?Q=JJE:CH;?P$JPMJC=(

[(l_(l[P<G;?B:$B$P?;?@G:N<<$d[E9=L;:O$WDJ>=GA<8:$;:$GEL=K=$��g

B=D:e$,[cL(3$<89VB?$dc<A=Ge3$+22&($]$**2$J(/$>G<B?9<A$;=JD?CHD?$>G<V

P=G?B$;=J?@C:J?B:;;?JA<$;?GP$WDJ>=GA;?@?$>G:B:(

u:D3$;:>G<P=G3$B?$BJ=R$J=P<$B<9:R$>G?Q=JJ:$EJA:;?BC=;?3$TA?$JB?<

BMB?9M$>?$G=8ECHA:A:P$<JJC=9?B:;<O$WDJ>=GA$<8C:@:=A$><JHP=;;?($cG<

WA?P$9?DEP=;A3$J?JA:BCO=PMI$WDJ>=GA?P3$B=89=$<P=;E=AJO$?9<;:D?B?\

V/@FWE57153X@CY58D/3,JA($*2$!c#$S[F[S3$JA($*2$!c#$SF3$JA($+1(+$#?_c

SF3$JA($1*$_c#$SF$<$9GE@<=/$<$ JT<A:=AJO$9?D:8:A=CHJAB?P$>?$9=CE(

X9;:D?$A?CHD?$B$>=GB?P$u:P?K=;;?P$D?9=DJ=$>GOP?$EJA:;?BC=;?3$TA?

;<D:D<=$ 8:DCfT=;<O3$:DAM3$ J>G:BD<$<$<;M=$9?DEP=;AM3$ J?9=GK:n<=

G=8ECHA:AM$>G?B=9=;;MR$<JJC=9?B:;<I$<$BMB?9M3$;?$>?9@?A?BC=;;M=

;=$>?$>?GET=;<f$>G:B??RG:;<A=CH;MR$?G@:;?B3$8:DCfT=;<OP<$WDJ>=GV

A:$;=$OBCOfAJO$,T($-+$JA($%+1$u#$SF/(

b?$BJ=R$J=P<$B<9:R$>G?Q=JJ:$EJA:;?BC=;?3$TA?$G:JR?9M3$JBO8:;;M=

J$>G?<8B?9JAB?P$WDJ>=GA<8M3$9?CK;M$B?8P=n:AHJO($X9;:D?$A?CHD?$B

U:C?@?B?P$ <$ ;?B?P$ u:P?K=;;?P$ D?9=DJ:R$ >GOP?$ EJA:;?BC=;?3$ TA?

WDJ>=GA$>G<BC=D:=AJO$;:$9?@?B?G;?I$?J;?B=$ ,JA($ )6$ ,-3+/$U#$SF3$ JA(

%'*$u#$SF/($b=89=3$DG?P=$D?;JA<AEQ<?;;?@?$<$;:C?@?B?@?$>G?Q=JJ:3

>G=9EJP?AG=;:$B?8P?K;?JAH$>G?B=9=;<O$WDJ>=GA<8M$B$J>=Q<:C<8<G?V

B:;;?P$WDJ>=GA;?P$ETG=K9=;<<($X9;:D?$<8$>OA<$D?9=DJ?B$A?CHD?$E@?V

C?B;?V>G?Q=JJE:CH;MP$ >G=9EJP?AG=;M$ ?>G=9=C=;;M=$ fG<9<T=JD<=

:DAM$,9=IJAB<O3$<P=fn<=$>G:B?B?=$8;:T=;<=/$GED?B?9<A=CO$WDJ>=GAV

;?@?$ETG=K9=;<O$D:D$J:P?JA?OA=CH;?@?$JELs=DA:$JE9=L;?VWDJ>=GA;?I

9=OA=CH;?JA<$,JA($-*'$!c#$S[F[S3$JA($-))3$+22$!c#$SF/(

#:K9MI$<8$J=P<$8:D?;?9:A=CH;MR$:DA?B$>G=9EJP:AG<B:=A$>G:B?$WDV

J>=GA:$R?9:A:IJAB?B:AH$?$>G=9?JA:BC=;<<$=PE$9?>?C;<A=CH;MR$P:A=V

G<:C?B3$;=?LR?9<PMR$9CO$9:T<$8:DCfT=;<O3$?9;:D?$A?CHD?$B$E@?C?BV

;?P$<$A:P?K=;;?P$>G?Q=JJ:R$?>G=9=C=;:$J:P:$>G?Q=9EG:$>?CET=;<O

9?>?C;<A=CH;MR$P:A=G<:C?B$ ,?LG:8Q?B/$9CO$JG:B;<A=CH;?@?$<JJC=9?V

B:;<O$,JA($-*1$<$+**$!c#$S[F[S^$JA($+2+$!c#$SF3$JA($-%6$<$%&'$u#$SF/(

b?$BJ=R$J=P<$B<9:R$>G?Q=JJ:$EJA:;?BC=;:$?AB=AJAB=;;?JAH$WDJ>=GA:

8:$;=;:9C=K:n==$BM>?C;=;<=$JB?<R$?LO8:;;?JA=I3$?9;:D?$?J;?B:;<O$<

B<9M$?AB=AJAB=;;?JA<$JEn=JAB=;;?$G:8C<T:fAJO($p:$;=OBDE$>?$BM8?BE

>?$E@?C?B;?PE$9=CE$ JE9?P$;:$ WDJ>=GA:$P?K=A$LMAH$;:C?K=;$rAG:N

,9=;=K;?=$B8MJD:;<=/\$>?$JA:G?PE$!c#$�$B$G:8P=G=$9?$?9;?I$AG=AH=I

aSXu$,JA($'%3$*+$!c#$S[F[S/3$>?$;?B?PE$!c#$V$B$G:8P=G=$9?$+6$aSXu

,JA($--'$!c#$SF/3$:$8:$;=OBDE$>?$@G:K9:;JD?PE$9=CE$�$B$G:8P=G=$9?$-22

aSXu$,JA($-12$4c#$S[F[S/$<C<$9?$-2$aSXu$,JA($-1*$4c#$SF/(

p:$9:TE$WDJ>=GA?P$8:B=9?P?$C?K;?@?$8:DCfT=;<O$B$E@?C?B;?P3$:GL<AV

G:K;?P3$@G:K9:;JD?P$>G?Q=JJ:R$;:JAE>:=A$E@?C?B;:O$?AB=AJAB=;;?JAH

,JA($'%3$*+$!c#$S[F[S^$JA($6'$,6/$!c#$SF3$JA($&6$_c#$SF^$JA($1+3$'1

4c#$S[F[S/3$B$;:C?@?B?P$>G?Q=JJ=$WDJ>=GA$>?9B=G@:=AJO$rAG:NE$B

G:8P=G=$-222$GEL($,JA($-+)$,+/$U#$SF/3$:$B$:9P<;<JAG:A<B;?P$]$?A$-2$9?

IT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

IS

1$+/0

)*6

-#4

%/)#&

+,

9On<I$JCEK=L;?=$G:JJC=9?B:;<=$B$?A;?r=;<<$JB?<R$G:L?A;<D?B3$D?V

A?GMR$?;$>?9?8G=B:=A$B$;:GEr=;<<$EJC?B<I$AGE9?B?@?$9?@?B?G:($b

JCET:=$;=B?8P?K;?JA<$J:P?8:n<AM$8:OB<A=CH3$<P=O$;:$GED:R$8:DCfV

T=;<=$WDJ>=GA:3$B>G:B=$>G=9?JA:B<AH$=@?$B$>G:B??RG:;<A=CH;M=$?G@:V

;M$<C<$B$JE9$9CO$B?8LEK9=;<O$JE9?>G?<8B?9JAB:(

c=G=T<JC=;;M=$ ;:>G:BC=;<O$ WDJ>=GA;MR$ <JJC=9?B:;<I$ B;=$ JEV

9?>G?<8B?9JAB:$?G@:;<T;?$BDCfT=;M$B$9=OA=CH;?JAH$JE9=L;?VWDJ>=GV

A;MR$ETG=K9=;<I3$:$A:DK=$B$>G:B??RG:;<A=CH;Ef$9=OA=CH;?JAH$@?JEV

9:GJAB:($ X;<$ J?JA:BCOfA$ 8;:T<A=CH;Ef$ 9?Cf$ B$ ?Ln=P$ ?Ls=P=$ >G?V

9EDQ<<$WDJ>=GA;?@?$ETG=K9=;<O$<$<P=fA$AE$K=$Q=CH3$TA?$<$@?JE9:GV

JAB=;;:O$ JE9=L;?VWDJ>=GA;:O$ 9=OA=CH;?JAH3l�$ EJA:;?BC=;<=$ 9?D:8:V

A=CHJAB=;;MR$N:DA?B$J$>?P?nHf$J>=Q<:CH;MR$8;:;<I($cG<$>?JC=9EV

fn=P$B?8LEK9=;<<$JE9=L;MR$>G?<8B?9JAB$>G?B=9=;;M=$WDJ>=GA;M=

<JJC=9?B:;<O$;:$>G:DA<D=$;=$?AB=G@:fAJO$>G:B??RG:;<A=CH;MP<$?G@:V

;:P<$<$JE9:P<3$:$>G<8;:fAJO$<JA?T;<D:P<$JE9=L;MR$9?D:8:A=CHJAB(

b;=JE9=L;M=$WDJ>=GA<8M3$BM>?C;Ofn<=JO$B?$P;?@<R$WDJ>=GA;MR$ETV

G=K9=;<OR3$>G?B?9OAJO$<$?N?GPCOfAJO$>?$>G:B<C:P3$EJA:;?BC=;;MP

9CO$@?JE9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<3$B$GEJC=$>G<;V

Q<>?B$<$AG:9<Q<I$WA?I$9=OA=CH;?JA<3$>G<$WA?P$B$D:T=JAB=$?J;?BM$>G?V

B=9=;<O$A:D<R$WDJ>=GA<8$>G<;<P:fAJO$P=A?9<D<$JE9=L;?VWDJ>=GA;?@?

<JJC=9?B:;<O(

U=CH8O$;=9??Q=;<B:AH$P=JA?$<$G?CH$B;=JE9=L;MR$WDJ>=GA<8$B$?LV

n=I$JAGEDAEG=$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<$<$G:JJP:AG<B:AH$<R

D:D$;=DEf$>?JA?G?;;ff$9=OA=CH;?JAH($p:P=A<P$A:DK=3$TA?$D:D$B$@G:KV

9:;JD?P3$A:D$<$B$E@?C?B;?P$>G?Q=JJ=$>G=9EJP?AG=;$?J?LMI$JA:AEJ$J>=V

Q<:C<JA:l�$C<Q:3$D?A?G?=$?LC:9:=A$J>=Q<:CH;MP<$>?8;:;<OP<$<$>G<V

P=;O=A$<R$B$>G:DA<D=$JE9?>G?<8B?9JAB:3$B$A?P$T<JC=$B$>=G=T<JC=;;MR

BMr=$JCET:OR(

S"h"` -FE>JAWFNBAF6>N@>H\6NaJF=@>bYBNZF?E@>V>GA@VHANEAWFNB>V>6ANNGFJ>HD@AX

cG=9P=A$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8Ml]$N:DAM$<$?LJA?OV

A=CHJAB:3$<P=fn<=$8;:T=;<=$9?D:8:A=CHJAB3$;:$?J;?B=$>G<P=;=;<O$J>=V

Q<:CH;MR$N<C?C?@<T=JD<R$>?8;:;<I$<$EJA:;:BC<B:=PM=$;:$?J;?B=$<JV

JC=9?B:;<O$8:D?;?P=G;?JA=I$<JA?G<T=JD?@?$G:8B<A<O$<$J?BG=P=;;?@?

NE;DQ<?;<G?B:;<O$D?;DG=A;?@?$O8MD:$,9CO$G?JJ<IJD?I$JE9=L;?I$>G:DV

A<D<l]$T:n=$BJ=@?$GEJJD?@?3$W><8?9<T=JD<$:;@C<IJD?@?$<$9GE@<R$O8MV

D?B/(

p:9:T<$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M\$A?CD?B:;<=$A=DJA?B3

<;A=G>G=A:Q<O3$>=G=B?93$?LsOJ;=;<=$E>?AG=LC=;<O$O8MD?B?@?$8;:D:$J

+(lcG?<8B?9JAB?$WDJ>=GA<8$<$<JJC=9?B:;<I$>?$8:9:;<OP$,8:>G?J:P3

8:OBC=;<OP/$?G@:;<8:Q<I$<$C<Q3$BR?9On<R$B$J?JA:B$>G:B??RG:;<A=CHV

;?I$J<JA=PM3$;?$;=$;:9=C=;;MR$JA:AEJ?P$>G:B?>G<P=;Ofn<R$?G@:;?B

<$;=$>G<;<P:fn<R$BC:JA;MR$G=r=;<I$>?$JEn=JABE$9=C:($c?AG=L;?JAH

B$A:D<R$WDJ>=GA;MR$<JJC=9?B:;<OR$?LEJC?BC=;:$;=?LR?9<P?JAHf$?L=JV

>=T=;<O$9?D:8:A=CHJAB$,?9;:$<8$NE;DQ<I$;?A:G<:A:/3$C<L?$;=?LR?9<V

P?JAHf$>G=9B:G<A=CH;?I$>?9@?A?BD<$JA?G?;$D$B?8P?K;?PE$B?8LEKV

9=;<f$JE9=L;?@?$9=C:$,<JD:3$E@?C?B;?@?$>G=JC=9?B:;<O/3$C<L?$K=$;=V

?LR?9<P?JAHf$>?9@?A?BD<$D$>G?<8B?9JABE$?A9=CH;MR$JC=9JAB=;;MR

9=IJAB<I$>?$EK=$B?8LEK9=;;?PE$9=CE($c?P<P?$;?A:G<EJ?B3$A:D<=$WDJV

>=GA<8M$;=?LR?9<PM$:9B?D:A:P$<$T:JA;MP$9=A=DA<B:P(

%(lcG?<8B?9JAB?$WDJ>=GA<8$<$<JJC=9?B:;<I$>?$8:OBC=;<OP$T:JA;MR

N<8<T=JD<R$<$fG<9<T=JD<R$C<Q($b$?9;<R$JCET:OR$<;<Q<:A?G:P<$>G?V

B=9=;<O$A:D<R$WDJ>=GA;MR$<JJC=9?B:;<I$BMJAE>:fA$>G:B??RG:;<A=CHV

;M=$ <C<$ D?;AG?C<GEfn<=$ ?G@:;M3$ D?@9:$ >G<$ ?JEn=JABC=;<<$ JB?<R

D?;AG?CH;MR$<$>G?N<C:DA<T=JD<R$NE;DQ<I$?;<$JA:CD<B:fAJO$J$N:DV

A:P<3$8:D?;;?JAH$D?A?GMR$BM8MB:=A$J?P;=;<O3$<$P?@EA$;:>G:B<AH$@G:KV

9:;<;:$B$WDJ>=GA;?=$ETG=K9=;<=3$>G=9C?K<B$=PE$J:P?JA?OA=CH;?3$L=8

B?8LEK9=;<O$9=C:$>G?B=JA<$WDJ>=GA<8E$J>?G;?@?$?Ls=DA:($m:G:DA=GV

;MI$>G<P=G$?><J:;;?I$>G:DA<D<l�$;:>G:BC=;<O$?G@:;?B$470""$9CO

>G?B=9=;<O$ WDJ>=GA<8M$ >?9C<;;?JA<$ P:GD<G?B?T;MR$ ?L?8;:T=;<I

,�gjV;?P=G?B/$:BA?P?L<C=I$J$Q=CHf$<JDCfT<AH$:BA?P?L<CH$<8$J><JV

D:$ >?R<n=;;MR($ #:D$ >G:B<C?3$ >?JC=$ WDJ>=GA<8M$ >?9?8G=;<O$ J;<V

P:fAJO3$;?$B$GO9=$JCET:=B$>?9?8G=;<O$?D:8MB:fAJO$?L?J;?B:;;MP<3

<$P:GD<G?BD:$:BA?P?L<CO$9=IJAB<A=CH;?$OBCO=AJO$>?99=CH;?I$,;?P=G

>=G=L<A/($ c?$ G=8ECHA:A:P$ AG:J?C?@<T=JD?@?$ <JJC=9?B:;<O$ WDJ>=GA

P?K=A$9:K=$EJA:;?B<AH$>=GB?;:T:CH;MI$;?P=G3$TA?$>G<9:=A$>G?B=V

9=;;?PE$B;=JE9=L;?PE$<JJC=9?B:;<f$JA:AEJ$<JA?T;<D:$9?D:8:A=CHJAB

>?$E@?C?B;?PE$9=CE$?$DG:K=$:BA?P?L<CO(

b$9GE@<R$JCET:OR$<;<Q<:A<BE$B$>G?B=9=;<<$WDJ>=GA<8M$>G?OBCO=A

;=>?JG=9JAB=;;?$ 8:OB<A=CHl�$ T:JA;?=$ N<8<T=JD?=$ <C<$ fG<9<T=JD?=

C<Q?($c?9?L;M=$?LG:n=;<O$@G:K9:;$<$9?CK;?JA;MR$C<Q$B$ WDJ>=GAV

;?=$ETG=K9=;<=$?LEJC?BC=;M$;=?G9<;:G;MP<$K<8;=;;MP<$J<AE:Q<OV

P<3$<P=fn<P<$D?;NC<DA;Ef$>G<G?9E$ ,LMA?BMP<$<$>G?<8B?9JAB=;V

;MP<$D?;NC<DA:P<3$ J>?G:P<$?$>G:B=3$;=>G:B?P=G;MP<$>?JAE>D:P<

9GE@<R$C<Q/3$9CO$EG=@EC<G?B:;<O$D?A?GMR$;=?LR?9<PM$J>=Q<:CH;M=

8;:;<O($c?9?L;M=$?LG:n=;<O3$T<JC?$D?A?GMR$>?JA?O;;?$G:JA=A3$<P=V

fA$Q=CHf$J:P?JA?OA=CH;?$<$?>=G:A<B;?$G:8?LG:AHJO$B$ J<AE:Q<<3$;=

>G<L=@:O$D$ 8:n<A=$>G:B??RG:;<A=CH;MR$?G@:;?B3$ $>?CET<AH$9?D:8:V

A=CHJAB=;;M=$N:DAM$<$>G<$B?8P?K;?JA<$B?JJA:;?B<AH$>G:B?>?GO9?D

JB?<P<$J<C:P<3$TA?3$B$T:JA;?JA<3$>G=9EJP?AG=;?$JA($-&$4G:K9:;JD?@?

D?9=DJ:$SF$d[:P?8:n<A:$@G:K9:;JD<R$>G:Be($[D:K=P3$B$WDJ>=GA;?=

ETG=K9=;<=$P?K=A$?LG:A<AHJO$8:$8:DCfT=;<=P$G:L?A?9:A=CH3$>G?B?V

Ih

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

II

1$+/0

)*6

-#4

%/)#&

+,

B$;:ET;?P$<JJC=9?B:;<<3$;=>G<@?9;M$9CO$G=r=;<O$8:9:T$JE9=L;?I$WDV

J>=GA<8M(

b$D:T=JAB=$;=@?JE9:GJAB=;;MR$JE9=L;MR$WDJ>=GA?B$;=G=9D?$BMJAEV

>:fA$J?AGE9;<D<$;:ET;?V<JJC=9?B:A=CHJD<R$<;JA<AEA?B3$>G=>?9:B:V

A=C<$BE8?B3$:BA?G<A=A;M=$ET=;M=$<$G:L?A;<D<$G:8C<T;MR$?G@:;<8:V

Q<I$<$B=9?PJAB3$<P=fn<=$L:8?B?=$BMJr==$N<C?C?@<T=JD?=$?LG:8?B:V

;<=3$ET=;M=$JA=>=;<$<$8B:;<O(

b$WDJ>=GA;M=$ETG=K9=;<O$;=G=9D?$?LG:n:fAJO$ 8:$D?;JECHA:Q<OV

P<3$J$>G?JHL:P<$>?P?TH$?Q=;<AH$G:;==$BM>?C;=;;M=$WDJ>=GA;M=$8:DV

CfT=;<O$;:$>G=9P=A$?L?J;?B:;;?JA<$<$>G:B<CH;?JA<$BMB?9?B3$JA=>=V

;<$D?P>=A=;A;?JA<$WDJ>=GA:$C<L?$>G?B=JA<$:CHA=G;:A<B;?=$C<;@B<JV

A<T=JD?=$<JJC=9?B:;<=$$?J>:G<B:=PMR$A=DJA?B(

#?P>=A=;A;?JAH$WDJ>=GA:3$ A?$ =JAH$;:C<T<=$J??AB=AJABEfn<R$J>=V

Q<:CH;MR$8;:;<I$>?$8:D?;E$?>G=9=CO=A$JELs=DA3$;:8;:T:fn<I$WDJ>=GV

A<8E$,JE9HO3$JC=9?B:A=CH3$9?8;:B:A=CH/($#:D$>G:B<C?3$>G?LC=P$;=$B?8V

;<D:=A$B$JCET:=$;:8;:T=;<O$WDJ>=GA<8M$B$@?JE9:GJAB=;;?=$WDJ>=GA;?=

ETG=K9=;<=3$GED?B?9<A=CH$D?A?G?@?$;=J=A$?AB=AJAB=;;?JAH$8:$D?P>=V

A=;A;?JAH$D?;DG=A;?@?$ J?AGE9;<D:3$ BMJAE>:fn=@?$B$NE;DQ<<$@?JEV

9:GJAB=;;?@?$WDJ>=GA:($[C?K;==$9=C?$?LJA?<A$>G<$;:8;:T=;<<$WDJ>=GV

A<8M$C<QE3$;=$OBCOfn=PEJO$@?JE9:GJAB=;;MP$WDJ>=GA?P$<C<$B$T:JAV

;?=$WDJ>=GA;?=$ETG=K9=;<=($b=9H$D?P>=A=;A;?JAH$$WDJ>=GA:$?>G=9=COV

=AJO$ ;=$ A?CHD?$ >G?N=JJ<?;:CH;MP$ BMJr<P$ $ ?LG:8?B:;<=P3$ ;?$ BJ=I

J?B?DE>;?JAHf$<P=fn<RJO$ 8;:;<I$B$>G=9=C:R$D?;DG=A;?I$JE9=L;?V

WDJ>=GA;?I$J>=Q<:CH;?JA<3$>G:DA<T=JD<P<$;:BMD:P<$<$EP=;<OP<$9CO

G=r=;<O$D?;DG=A;?I$WDJ>=GA;?I$8:9:T<(

F<C?C?@<3$BM>EJD;<D<$@EP:;<A:G;MR$BE8?B$?LMT;?$;=$8;:D?PM$J

>?JC=9;<P<$;:ET;?V>G:DA<T=JD<P<$9?JA<K=;<OP<$G?JJ<IJD?I$<$8:GEV

L=K;?I$JE9=L;?VWDJ>=GA;?I$>G:DA<D<3$;=$BC:9=fA$J?BG=P=;;MP<$WDJV

>=GA;MP<$P=A?9<D:P<$G=r=;<O$D?;DG=A;MR$B?>G?J?B3$;=$?LC:9:fA

AG=LE=PMP<$;:BMD:P<$>?$>G<P=;=;<f$WDJ>=GA;?VDG<P<;:C<JA<T=JV

D<R$P=A?9?B$<$JG=9JAB$<JJC=9?B:;<O$EJA;MR$<$><JHP=;;MR$A=DJA?B3$;=

<P=fA$?>MA:$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<3$;=$?LC:9:fA$8;:;<OV

P<$?Ln=I$A=?G<<$JE9=L;?I$WDJ>=GA<8M3$;=$8;:fA$J>=Q<N<D<$E@?C?BV

;?@?3$ @G:K9:;JD?@?3$ :GL<AG:K;?@?$>G?Q=JJ?B3$<3$ D:D$ JC=9JAB<=3$ $;=

?T=;H$T=AD?$>G=9JA:BCOfA$JE9=L;Ef$>=GJ>=DA<BE$BMJD:8MB:=PMR$<P<

P;=;<I$<$JEK9=;<I3$<;?@9:$9?B?CH;?$JELs=DA<B;MR($U=8;:;<=$J?BG=V

P=;;MR$WDJ>=GA;MR$P=A?9<D$<$?J;?B$JE9=L;?VWDJ>=GA;?@?$<JJC=9?B:V

;<O$EJA;MR$<$><JHP=;;MR$A=DJA?B$T:JA?$>G<B?9<A$D$A?PE3$TA?$<8ET=V

;<=$JB?IJAB$>G=9JA:BC=;;MR$A=DJA?B$>G?<8B?9<AJO$?9;?JA?G?;;=3$<;?@V

9:$;=?Ls=DA<B;?($p:DCfT=;<O$WDJ>=GA?B$>?$N?GP=$<$J?9=GK:;<f$B?

P;?@<R$JCET:OR$;=$?AB=T:fA$BMG:L?A:;;MP$P;?@?C=A;=I$WDJ>=GA;?I

>G:DA<D?I$DG<A=G<OP$OJ;?JA<3$>?C;?AM$<$9?JA?B=G;?JA<3$<8?L<CEfA

A?TD<$8G=;<O$>C:;:$J?9=GK:;<O$<$>C:;:$BMG:K=;<O3$EJA:;?BC=;<=$<

>?9AB=GK9=;<=$ $ :BA?GJAB:$A=DJA:3$ BMOBC=;<=$>G<8;:D?B$>C:@<:A:3$ :

A:DK=$<;MR$:J>=DA?B$>?G?K9=;<O$<$B?J>G<OA<O$O8MD?B?@?$8;:D:$<C<

A=DJA:$ B$ EJC?B<OR$ P=KDECHAEG;?I$ D?PPE;<D:Q<<3$ ?L$ :9=DB:A;?JA<

>?;<P:;<O$A=DJA:$;:$;=G?9;?P$O8MD=$G=Q<><=;A?P$L<C<;@B?P$J$ET=V

A?P$P=KDECHAEG;MR$<$P=K;:Q<?;:CH;MR$G:8C<T<I$<$A(9(

XLs=DAM$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8Ml]$ WA?$P:A=G<:CHV

;M=$?Ls=DAM3$J?9=GK:n<=$>G?<8B=9=;<O$EJA;?I$<C<$><JHP=;;?I$G=T<3

>G=9JA:BC=;;M=$;:$A?P$<C<$<;?P$P:A=G<:CH;?P$;?J<A=C=($ b$ JCET:=

=JC<$?Ls=DA?P$<JJC=9?B:;<O$OBCO=AJO$>ELC<D:Q<O$B$WC=DAG?;;MR$[a73

WDJ>=GA<8:$ 9?CK;:$ LMAH$ >G?B=9=;:$ >?$ N?;?@G:PP=$ ,:E9<?VB<9=?8:V

><J</$BMJAE>C=;<O$B$WC=DAG?;;MR$[a7($XLs=DA?P$C<;@B<JA<T=JD?I

WDJ>=GA<8M$P?K=A$LMAH$CfL?I$A=DJA$,EJA;MI$<C<$><JHP=;;MI/3$D?A?V

GMI$J?9=GK<AJO$B$P:A=G<:C:R$9=C:3$>?$D?A?G?PE$>G?B?9<AJO$JE9=L;:O

WDJ>=GA<8:(

[ELs=DAM$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8Ml]$WA?$C<Q:3$?LC:V

9:fn<=$;=?LR?9<PMP<$>?8;:;<OP<$9CO$9?JA<K=;<O$Q=C=I$WDJ>=GA<V

8M3$G=r=;<O$JA?On<R$>=G=9$;=I$8:9:T(

b$?J;?B=$>G?N=JJ<?;:CH;?I$>?9@?A?BD<$WDJ>=GA:VC<;@B<JA:$9?CV

K;M$C=K:AH$8;:;<O3$>?CET=;;M=$B$G:PD:R$BMJr=@?$>G?N=JJ<?;:CH;?V

@?$ ?LG:8?B:;<O$ >?$ N<C?C?@<<($ $ ZDJ>=GAVC<;@B<JA$ 9?CK=;$ ?LC:9:AH

@CEL?D<P<$<$BJ=?Ls=PCfn<P<3$W;Q<DC?>=9<T=JD<P<$8;:;<OP<$B?$P;?V

@<R$?AG:JCOR$N<C?C?@<<$<$?Ln=I$A=?G<<$JE9=L;?I$WDJ>=GA<8M3$A?CHD?

B$WA?P$JCET:=$=@?$8:DCfT=;<=$P?K=A$LMAH$?Q=;=;?$D:D$;:ET;?$?L?J;?V

B:;;?=$<$:G@EP=;A<G?B:;;?=(

X9;:D?$;:C<T<=$E$C<Q:3$D?A?G?PE$>?GET:=AJO$>G?<8B?9JAB?$JE9=LV

;?I$WDJ>=GA<8M3$A?CHD?$L:8?B?@?$BMJr=@?$N<C?C?@<T=JD?@?$?LG:8?V

B:;<O$<$9:K=$BMJ?D?I$ET=;?I$JA=>=;<$<$8B:;<O3$=n=$;=$OBCO=AJO$L=8EJV

C?B;?I$@:G:;A<=I$=@?$D?P>=A=;A;?JA<$D:D$JE9=L;?@?$WDJ>=GA:$B$9:;V

;?I$?LC:JA<$;:ED<($[E9=L;MI$WDJ>=GA$9?CK=;$?LC:9:AH$;=$A?CHD?$A=V

?G=A<T=JD<P<$8;:;<OP<$>G=9P=A:($!$;=@?$9?CK;M$LMAH$>G:DA<T=JD<=

;:BMD<$<$EP=;<O$9CO$G=r=;<O$D?;DG=A;MR$WDJ>=GA;MR$8:9:T($X;$?LOV

8:;$BC:9=AH$WDJ>=GA;MP<$P=A?9<D:P<3$>G<P=;OAH$:$JB?=I$G:L?A=$C<rH

A:D<=$P=A?9M3$;:9=K;?JAH$<$>G<P=;<P?JAH$D?A?GMR$B$JE9=L;?I$WDJV

>=GA<8=$;=$BM8MB:=A$J?P;=;<I(

b$C<;@B<JA<T=JD?I$WDJ>=GA<8=3$D?A?G:O$OBCO=AJO$?A;?J<A=CH;?$P?V

C?9MP$B<9?P$WDJ>=GA;?@?$<JJC=9?B:;<O3$9?$;:JA?On=@?$BG=P=;<$T:JV

A?$B?8;<D:=A$;=?LR?9<P?JAH$G:8G:L?AD<$E;<D:CH;?I$<C<$;?B?I$P=A?V

9<D<$<JJC=9?B:;<O$9CO$?AB=A:$;:$B?>G?JM3$>?JA:BC=;;M=$>=G=9$WDJV

>=GA?P3$D?@9:$@?A?B?I$P=A?9<D<$>G?JA?$;=$JEn=JABE=A($ZDJ>=GAVC<;@V

B<JA$B$WA<R$JCET:OR$9?CK=;$T=AD?$>G=9JA:BCOAH$J=L=3$D:D<=$:D:9=P<V

T=JD<=$ P=A?9M$ <JJC=9?B:;<O$ J??AB=AJABEfA$ J>=Q<N<D=$ WDJ>=GA;?I

9=OA=CH;?JA<3$B$A?$BG=PO$D:D$9GE@<=$P=A?9<T=JD<=$>?9R?9M3$EP=JA;M=

IL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

IM

1$+/0

)*6

-#4

%/)#&

+,

>G<P=;=;M3$P=A?9?C?@<O$9:;;?I$WDJ>=GA<8M3$==$;:ET;MI$<;JAGEP=;A:V

G<I3$B:C<9;?JAH$>G<P=;=;;MR$P=A?9?B$<JJC=9?B:;<O$<$;:9=K;?JAH$>?V

CET=;;MR$G=8ECHA:A?B($XLO8:A=CH;M$JJMCD<$;:$<J>?CH8?B:;;M=$;:ETV

;M=$AGE9M$<C<$>ELC<D:Q<<$?A=T=JAB=;;MR$<C<$8:GEL=K;MR$ET=;MR3$:

A:DK=$ED:8:;<=$?$A?P3$;:$D:D<R$A=?G=A<T=JD<R$?J;?B:R$<8$?LC:JA<$D:V

D?I$?AG:JC<$C<;@B<JA<T=JD?I$;:ED<$L:8<G?B:C<JH$WDJ>=GAM3$D:D<=$;:V

ET;M=$?J;?BM$>G<P=;OC<3$D:D<=$WDJ>=G<P=;AM$>G?B?9<C<($5=C:A=CH;?

A:DK=$>G<B?9<AH$JJMCD<$$;:$NE;9:P=;A:CH;M=$<C<$>G<DC:9;M=$;:ETV

;M=$G:8G:L?AD<3$ J>G:B?T;M=$9:;;M=3$<;JAGEDA<B;M=$<$;?GP:A<B;M=

9?DEP=;AM3$>G:B<C:3$G=@C:P=;A<GEfn<=$>?GO9?D$>G?<8B=9=;;?I$<P<

WDJ>=GA<8M($XAJEAJAB<=$B$8:DCfT=;<<$C<;@B<JA<T=JD?I$WDJ>=GA<8M$BMV

r=>=G=T<JC=;;MR$9:;;MR$>?8B?COfA$?Q=;<AH$=@?$D:D$;=?L?J;?B:;;?=

,JP(\$0fCC=A=;H$b=GR?B;?@?$JE9:$[[[S($-)*+$q13$J(+63$+1/(

U:C<T<=$?><J:;<O$>G<P=;=;;?I$P=A?9<D<$?LO8:A=CH;?$9CO$C<;@V

B<JA<T=JD?I$ WDJ>=GA<8M($ b:K;?I$ T:JAHf$ A:D?@?$ ?><J:;<O$ OBCO=AJO

T=AD?=$ <8C?K=;<=$ >?;OA<I;?@?$ :>>:G:A:3$ A:D$ D:D$ P;?@<=$ A=GP<;M

C<;@B<JA<D<$B$:D:9=P<T=JD?I$;:ED=$;=$<P=fA$?9;?8;:T;MR$?>G=9=C=V

;<I3$<R$>?;OA<I;?=$J?9=GK:;<=$P?K=A$LMAH$G:8;MP$9CO$>G=9JA:B<A=V

C=I$ G:8;MR$ ;:ET;MR$ rD?C($ 0=8$ A:D?@?$ ?><J:;<O$ AGE9;?$ ?L=J>=T<AH

>G?B=GO=P?JAH$8:DCfT=;<O3$:$L=8$WA?@?$;=B?8P?K;:$?Q=;D:$=@?$?Ls=DV

A<B;?JA<3$TA?$OBCO=AJO$>GOPMP$;:GEr=;<=P$>G<;Q<>?B$JE9=L;?VWDJV

>=GA;?I$9=OA=CH;?JA<3$EJA:;?BC=;;MR$8:D?;?9:A=CH;?($_$WA?$:BA?P:V

A<T=JD<$?8;:T:=A3$TA?$>?9?L;?=$8:DCfT=;<=3$;=$?AB=T:fn==$AG=L?B:V

;<OP$8:D?;:$>?$>:G:P=AG:P$>G?B=GO=P?JA<$<$?Ls=DA<B;?JA<3$;=$OBCOV

=AJO$9?>EJA<PMP$9?D:8:A=CHJAB?P(

S"I"` ,AJ\6GA@VHANEAWFNB>V>6ANNGFJ>HD@AX6H?DCBD]6NaJF=@>bYBNZF?E@>c6JFXEFGU@>NEA

Y<;@B<JA<T=JD:O$ WDJ>=GA<8:$B?JAG=L?B:;:$>G=K9=$BJ=@?$B$ J<AE:V

Q<OR3$D?@9:$>G:B?;:GEr=;<=$J?B=Gr:=AJO$B$JC?B=J;?I$N?GP=$<C<$D?@V

9:$B$Q=;AG=$>G:B?B?@?$D?;NC<DA:$;:R?9<AJO$A=DJA3$OBCOfn<IJO$>G=9V

P=A?P$J>?G:($m:G:DA=G$ WDJ>=GA;?@?$<JJC=9?B:;<O$<$B?>G?JM3$D?A?V

GM=$ JA:BOAJO$ >=G=9$ WDJ>=GA?P3$ ?>G=9=COfAJO$ <JR?9O$ <8$ A?@?3$ D:D<=

<P=;;?$?LJA?OA=CHJAB:3$<P=fn<=$8;:T=;<=$9CO$9=C:3$AG=LE=AJO$EJA:V

;?B<AH3$A?$=JAH$>G=K9=$BJ=@?$B$8:B<J<P?JA<$?A$D:A=@?G<<$9=C:(

U<K=$>G<B?9<AJO$;=>?C;MI$>=G=T=;H$D:A=@?G<I$JE9=L;MR$9=C3$9CO

D?A?GMR$R:G:DA=G;MP$OBCO=AJO$;:C<T<=$>?A=;Q<:CH;?@?$?Ls=DA:$C<;V

@B<JA<T=JD?@?$WDJ>=GA;?@?$<JJC=9?B:;<O$<$B$>G?Q=JJ=$G:JJP?AG=;<O

D?A?GMR$T:JA?$B?8;<D:=A$G=:CH;:O$>?AG=L;?JAH$B$;:8;:T=;<<$<$>G?V

B=9=;<<$C<;@B<JA<T=JD?I$WDJ>=GA<8M(

9?PMJC:P<3$BMG:K=;<OP<3$?AG:K:fn<P<$JELs=DA<B;?=$P;=;<=$<$JEKV

9=;<O$:BA?G?B3$:$9?D:8:A=CHJAB=;;?=$8;:T=;<=$EJA:;:BC<B:=PMR$N:DV

A?B$<$?LJA?OA=CHJAB$A=GO=AJO$B$>EJA?P$P;?@?JC?B<<$<$;=?>G:B9:;;?P

;:ED??LG:8<<(

#B:C<N<D:Q<O$;=@?JE9:GJAB=;;MR$WDJ>=GA?B$P?K=A$LMAH$>?9AB=GV

K9=;:$JB<9=A=CHJAB:P<$;:$>G:B?$>G?<8B?9JAB:$?>G=9=C=;;MR$G?9?B

<C<$B<9?B$WDJ>=GA<83$D?A?GM=$BM9:fAJO$ J??AB=AJABEfn<P<$;=@?JEV

9:GJAB=;;MP<$ETG=K9=;<OP<$<C<3$TA?$;:$;:r$B8@CO9$>G=9>?TA<A=CHV

;?3$P=KB=9?PJAB=;;MP$;:ET;?VP=A?9<T=JD<P$J?B=A?P3$?LG:8?B:;;MP

>G<$:BA?G<A=A;?I$;:ET;?V?Ln=JAB=;;?I$?G@:;<8:Q<<$,;:>G<P=G3$4YZV

"7[/3$<$>?9C=K<A$>=G=JP?AGE$D:K9M=$>OAH$C=A(

m?AO$>G?Q=JJE:CH;MI$8:D?;$WA?@?$;=$AG=LE=A$<$B?8C:@:=A$ 8:9:TE

?>G=9=C=;<O$D?P>=A=;A;?JA<$WDJ>=GA:$;:$JELs=DA:3$;:8;:T:fn=@?$WDV

J>=GA<8E3$>?JC=9;<I$JA:CD<B:=AJO$>G<$WA?P$J?$ 8;:T<A=CH;MP<$AGE9V

;?JAOP<($U:C<T<=$BMJr=@?$>G?N=JJ<?;:CH;?@?$ J>=Q<:CH;?@?$?LG:V

8?B:;<O$ ]$ ;=?LR?9<P?=3$ ;?$ ;=9?JA:A?T;?=$ EJC?B<=$ D?P>=A=;A;?JA<

WDJ>=GA:($cG<$>G?<8B?9JAB=$WDJ>=GA<8$;=@?JE9:GJAB=;;MP<$WDJ>=GA:V

P<3$;=$:AA=JA?B:;;MP<$;:$>G:B?$J:P?JA?OA=CH;?@?$>G?<8B?9JAB:$WDJV

>=GA<8$;=$<P=fn<P<$DB:C<N<D:Q<?;;MR$JB<9=A=CHJAB$;:$>G:B?$>G?V

<8B?9JAB:$JE9=L;MR$C<;@B<JA<T=JD<R$WDJ>=GA<83$B;=$J>=Q<:C<8<G?B:;V

;MR$WDJ>=GA;MR$ETG=K9=;<I3$JC?K;?$?L=J>=T<AH$D?;AG?CH$8:$D:T=JAB?P

WDJ>=GA;MR$<JJC=9?B:;<I$<$WDJ>=GA;MR$8:DCfT=;<I3$D?A?GMI$JC?K<CJO

B$P;?@?C=A;=I$>G:DA<D=$WDJ>=GA;MR$ETG=K9=;<I(

b$G=8ECHA:A=$BP=JA?$;:9=K;?$<$9?JA?B=G;?$EJA:;?BC=;;MR$;:$?JV

;?B=$9?JA<K=;<I$;:ED<$<$A=R;<D<$N:DA?B$B$ 8:DCfT=;<OR$;=@?JE9:GV

JAB=;;MR$ WDJ>=GA?B$ ;=G=9D?$ J?9=GK:AJO$ 9?@:9D<3$ @<>?A=8M$ <C<$ BMV

PMJ=C3$D?A?GM=3$P?K=A$LMAH3$<$@?9OAJO$9CO$JA:AH<3$;?$;=>G<=PC=PM

9CO$8:DCfT=;<O$JE9=L;?@?$WDJ>=GA:($m?9$<JJC=9?B:;<O$<$=@?$G=8ECHV

A:AM$B$ 8:DCfT=;<<$;<D:D$;=$?><JMB:fAJO^$BMB?9M$>?9T:J$;?JOA$;=

D:A=@?G<T=JD<I3$:$B=G?OA;MI$R:G:DA=G3$TA?$;=$>?8B?CO=A$<J>?CH8?B:AH

<R$B$D:T=JAB=$JE9=L;MR$9?D:8:A=CHJAB(

XL?J;?B:;;?JAH$8:DCfT=;<O$WDJ>=GA:3$D:D$<8B=JA;?3$>G=9>?C:@:=A

;:ET;Ef3$C?@<T=JDEf$<$P=A?9<T=JDEf$@G:P?A;?JAH$>G?B=9=;;?@?$<JV

JC=9?B:;<O$<$<8C?K=;<O$=@?$G=8ECHA:A?B3$:$A:DK=$>?9AB=GK9=;<=$BMV

B?9?B$WDJ>=GA:$ J??AB=AJABEfn<P<$N:DA:P<$<$:G@EP=;A:P<($b$D:T=V

JAB=$A:D<R$:G@EP=;A?B3$<P=fn<R$?Ls=DA<B;MI$R:G:DA=G3$JCEK<A$G:8V

B=G;EA:O$R:G:DA=G<JA<D:$>G<P=;=;;MR$P=A?9?B$<$BMOBC=;;MR$>G<8;:V

D?B3$ :$ A:DK=$ 9=A:CH;?=$ ?><J:;<=$ R?9:$ <$ G=8ECHA:A?B$ >G?B=9=;;MR

<JJC=9?B:;<I3$;:C<T<=$>?9G?L;MR$$<CCfJAG:Q<I$,JP(\$S?JJ<;JD:O$�(S(

#?PP=;A:G<I$D$F=9=G:CH;?PE$8:D?;E$dX$@?JE9:GJAB=;;?I$JE9=L;?V

WDJ>=GA;?I$9=OA=CH;?JA<e($]$a(\$cG:B?$<$8:D?;3$+22+(/(

b$8:DCfT=;<<$C<;@B<JA<T=JD?I$WDJ>=GA<8M$?LO8:A=CH;?$9?CK;?$LMAH

ED:8:;?3$D:D<=$:>G?L<G?B:;;M=$<$;:ET;?$?L?J;?B:;;M=$P=A?9<D<$LMC<

IO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

IP

1$+/0

)*6

-#4

%/)#&

+,

• BMJD:8MB:;<I$<$BMG:K=;<I3$?LG:n=;<I$<$C?8E;@?B3$>G<8MB:fV

n<R$<C<$:@<A<GEfn<R$8:$J?B=Gr=;<=$WDJAG=P<JAJD<R$9=IJAB<I^

• >G<D:8?B$;:$J?B=Gr=;<=$A:D<R$9=IJAB<I^

• ;=@:A<B;MR$?Q=;?D$B$:9G=J$D:D?IVC<L?$;:Q<?;:CH;?I3$D?;N=JV

J<?;:CH;?I$<C<$<;?I$J?Q<:CH;?I$@GE>>M^

• BMJD:8MB:;<I$BG:K9=L;?V:@G=JJ<B;?@?$C<L?$E;<T<K<A=CH;?@?

R:G:DA=G:$B$?A;?r=;<<$D:D?IVC<L?$;:Q<?;:CH;?JA<3$ WA;<T=JV

D?I3$D?;N=JJ<?;:CH;?I$<C<$<;?I$J?Q<:CH;?I$@GE>>M^

• BMJD:8MB:;<I3$B?8C:@:fn<R$?AB=AJAB=;;?JAH$8:$;=@:A<B;?$?Q=V

;<B:=PM=$?Ln=JAB?P$9=IJAB<O$?A9=CH;MR$>G=9JA:B<A=C=I$;:$BJf

J?Q<:CH;Ef$@GE>>E^

• >?LEK9=;<O$D$;:J<CHJAB=;;MP$9=IJAB<OP$>G?A<B$C<Q$?>G=9=V

C=;;?I$J?Q<:CH;?I$@GE>>M^

• BMJD:8MB:;<I$?L$<8;:T:CH;?I$BG:K9=L;?JA<$D:D?IVC<L?$;:Q<<

<C<$G:JM$>?$?A;?r=;<f$D$9GE@?I$<C<$9GE@<P^

• BMJD:8MB:;<I$?L$:;A:@?;<8P=3$>G<;Q<><:CH;?I$;=J?BP=JA<P?V

JA<$<;A=G=J?B$?9;?I$J?Q<:CH;?I$@GE>>M$>?$?A;?r=;<f$D$9GEV

@?I^

• BMJD:8MB:;<I3$?LsOJ;Ofn<R$L=9JAB<O$?9;?I$J?Q<:CH;?I$@GE>V

>M$JEn=JAB?B:;<=P$<$9=OA=CH;?JAHf$9GE@?I^

• >?C?K<A=CH;MR$?Q=;?D3$B?JRB:C=;<O$@=;?Q<9:3$9=>?GA:Q<<3$G=>V

G=JJ<I$B$?A;?r=;<<$>G=9JA:B<A=C=I$?>G=9=C=;;?I$J?Q<:CH;?I

@GE>>M^

• ;=@:A<B;MR$E;<T<K<A=CH;MR$?Q=;?D$C<T;?JA<$D:D$>G=9JA:B<V

A=CO$?>G=9=C=;;?I$J?Q<:CH;?I$@GE>>M^

• BMJD:8MB:;<I3$>G?>:@:;9<GEfn<R$;:Q<JAJDEf$<C<$JR?9;Ef$J

;=I$9?$JA=>=;<$JP=r=;<O$J<PB?C<DE$<$:AG<LEA<DE^

• BMG:K=;<I$<$BMJD:8MB:;<I3$OBCOfn<RJO$JC?B=J;MP<$:AG<LEV

A:P<$;:Q<8P:$<C<$JR?9;MR$J$;<P<$9?$JA=>=;<$JP=n=;<O(

0?C==$>?9G?L;Ef$R:G:DA=G<JA<DE$?J?L=;;?JA=I$C<;@B<JA<T=JD?@?

<JJC=9?B:;<O$>?$9=C:P$9:;;?I$D:A=@?G<<$P?K;?$;:IA<$B$G:89=C=$&(-(

&(lp:n<A:$<JDCfT<A=CH;MR$>G:B$;:$4#()"43E"*&*'(J1&3&0()233E"

=()203E"*D32'&3$<;M=$32&J"3()23&A$D:D$JG=9JAB:$<;9<B<9E:C<8:Q<<(

Y<;@B<JA<T=JD:O$WDJ>=GA<8:$OBCO=AJO$?J;?B;MP$<;JAGEP=;A?P3$>?8B?V

COfn<P$EJA:;:BC<B:AH

• A?K9=JAB?$JC?B=J;MR$?L?8;:T=;<I^

• <R$JR?9JAB?$9?$JA=>=;<$JP=r=;<O^

• ?><J:A=CH;?JAH$<C<$N:;A:8<I;?JAH$;:<P=;?B:;<I3$D?A?G:O$OBV

CO=AJO$B=9En<P$DG<A=G<=P$>G<$?>G=9=C=;<<$<R$?RG:;?J>?J?LV

;?JA<(

XJ;?B;?I$?AC<T<A=CH;?I$T=GA?I$A?B:G;MR$8;:D?B$?A$8;:D?B$9GEV

@<R$D:A=@?G<I$J$ J=P<?A<T=JD?I$A?TD<$ 8G=;<O$OBCO=AJO$BM>?C;O=P:O

A?B:G;MP<$8;:D:P<$NE;DQ<O$<;9<B<9E:C<8:Q<<$A?B:G:($[>?J?L;?JAH

-(lX2H&=2*%"4=&.*;(4=(&34=)2*&*;"#()(5*0"CL=2K&&.*'#")"=2($Y<;@V

B<JA<T=JD?=$<JJC=9?B:;<=$B$G:PD:R$JE9=L;MR$J>?G?B$9:;;?I$D:A=@?V

G<<$;:>G:BC=;?$@C:B;MP$?LG:8?P$;:

• BMOBC=;<=$;=@:A<B;?I$<;N?GP:Q<<$?$D?;DG=A;MR$C<Q:R($b$D:V

T=JAB=$;=@:A<B;MR$G:JJP:AG<B:fAJO$>G=<PEn=JAB=;;?$JB=9=;<O

?$9=IJAB<OR3$>?JAE>D:R$C<Q:3$?AG<Q:A=CH;?$R:G:DA=G<8Efn<R

=@?$J$A?TD<$8G=;<O$89G:B?@?$JPMJC:3$P?G:C<$<C<$J$>G:B?B?I$A?TV

D<$ 8G=;<O3l�$ ?$ 9=IJAB<OR$ >G?A<B?>G:B;MR3$ ;=>?GO9?T;MR$ <

,<C</$;=G:8EP;MR(^

• EJA:;?BC=;<=$N?GPM$==$BMG:K=;<O$B$A=DJA=($S=TH$<9=A$>G=K9=

BJ=@?$?$G:8@G:;<T=;<<$EAB=GK9=;<I$?$N:DA:R3$O8MD?B:O$N?GP:

D?A?GMR$,EAB=GK9=;<I/$9?>EJD:=A$>G?B=GDE$<;N?GP:Q<<$;:$J?V

?AB=AJAB<=$9=IJAB<A=CH;?JA<3$<$G:8C<T;MR$N?GP$BMG:K=;<O$P;=V

;<O3$A:D?I$>G?B=GD=$;=$>?9C=K:n<R^

• EJA:;?BC=;<=$:BA?GJAB:$J>?G;MR$BMJD:8MB:;<I(

XA$WDJ>=GA:VC<;@B<JA:$T:JA?$AG=LE=AJO$A:DK=$EA?T;=;<=$>?9C<;V

;?@?$J?9=GK:;<O$A?@?$<C<$<;?@?$BMJD:8MB:;<O3$JPMJC:3$D?A?GMI$WA?

BMJD:8MB:;<=$BMG:K:=A(

0?C==$>?9G?L;Ef$R:G:DA=G<JA<DE$?J?L=;;?JA=I$C<;@B<JA<T=JD?@?

<JJC=9?B:;<O$>?$9=C:P$9:;;?I$D:A=@?G<<$P?K;?$;:IA<$B$G=D?P=;9E=V

P?I$;:P<$C<A=G:AEG=3$JP($T:JAH$)(

+(l]4'(01#"3&"($Y<;@B<JA<T=JD<=$R:G:DA=G<JA<D<3$D?A?GMP<$$9?CV

K;?$ ?LC:9:AH$ BMJD:8MB:;<=3$ TA?LM$ =@?$ P?K;?$ LMC?$ DB:C<N<Q<G?V

B:AH$D:D$?JD?GL<A=CH;?=3$]$WA?$;=Q=;8EG;?JAH3$;=>G<JA?I;?JAH$JC?B$<

BMG:K=;<I3$JG:B;=;<=$J$?9<?8;MP<$<JA?G<T=JD<P<$<$C<A=G:AEG;MP<

>=GJ?;:K:P<3$C=DJ<D:$<$NG:8=?C?@<O3$D?A?G:O$?JD?GLCO=A$?Ln=JAB=;V

;Ef$P?G:CH3$;:GEr:=A$;?GPM$?Ln=JAB=;;MR$>G<C<T<I($7JJC=9?B:V

;<=$;:>G:BC=;?$>G=K9=$BJ=@?$;:

• BMOBC=;<=$ ;=@:A<B;?I$ ?Q=;?T;?I$ <;N?GP:Q<<$ ?$ D?;DG=A;?P

T=C?B=D=^

• ?>G=9=C=;<=$;=>G<C<T;?JA<$N?GPM$==$$BMG:K=;<O^

• EJA:;?BC=;<=$:9G=J;?@?$E>?AG=LC=;<O$WA?I$;=@:A<B;?I$?Q=;D<

,9=IJAB<A=CH;?$C<$?;:$BMJD:8:;:$B$:9G=J$D?;DG=A;?@?$T=C?B=D:/^

• EJA:;?BC=;<=$:BA?GJAB:$J>?G;MR$BMJD:8MB:;<I(

0?C==$>?9G?L;Ef$R:G:DA=G<JA<DE$?J?L=;;?JA=I$C<;@B<JA<T=JD?@?

<JJC=9?B:;<O$>?$9=C:P$9:;;?I$D:A=@?G<<$P?K;?$;:IA<$B$G:89=C=$6(-(

%(lR#()"43E5*B'4=0"J&DJ($Y<;@B<JA<T=JD<=$ 8;:;<O$>?8B?COfA$EJV

A:;?B<AH$N:DA$;:C<T<O$B$?A9=CH;MR$BMJD:8MB:;<OR$<C<$B$Q=C?P$A=DV

JA=$?Ls=DA<B;MR$>G<8;:D?B$JC?B=J;?@?$WDJAG=P<8P:l]$J??AB=AJABEfV

n<R$ >G<8MB?B$ <C<$ ;:>G:BC=;;?JA<$ ;:$ B?8LEK9=;<=$ ;=;:B<JA<$ <C<

BG:K9M$>?$>G<8;:D:P$J?Q<:CH;?I$>G<;:9C=K;?JA<(

7JJC=9?B:;<=$>?$9:;;?I$D:A=@?G<<$9=C$;:>G:BC=;?$>G=K9=$BJ=@?

;:$BMOBC=;<=$B$A=DJA=

IQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

IR

1$+/0

)*6

-#4

%/)#&

+,

C<:C:3$9?T=G;=@?$>G=9>G<OA<O3$;?B?=$;:<P=;?B:;<=$N<GPM$>?JC=$==

G=?G@:;<8:Q<<$<$A(l>(

XL?8;:T=;<=$A?B:G:3$B$J?JA:B$D?A?G?@?$BR?9<A$>?9?L;MI$;=?RG:V

;?J>?J?L;MI$WC=P=;A3$P?K=A$B?J>G<;<P:AHJO$D:D$?L?8;:T=;<=$P?9<V

N<D:Q<<$<JR?9;?@?$A?B:G:3$BM8MB:AH$>G=9JA:BC=;<=$?$=9<;JAB=$>G?V

<JR?K9=;<O$ A?B:G?B3$ ?L?8;:T:=PMR$ <JR?9;MP$ <$ >G?<8B?9;MP$ ?L?V

8;:T=;<OP<(

b$ JC?B=J;?P$ ?L?8;:T=;<<$ B$ ?Ln=P$ JCET:=$ P?@EA$ >G<JEAJAB?B:AH

C<;@B<JA<T=JD<$J<CH;M=3$?JC:LC=;;M=$<$JC:LM=$WC=P=;AM($[G:B;<A=CHV

;MI$:;:C<8$?L?8;:T=;<I$9?CK=;$>G?B?9<AHJO$ J$G:89=CH;MP$ET=A?P

A:D<R$ $ WC=P=;A?B($S:8C<T<A=CH;:O$ J>?J?L;?JAH$ 8;:D:$B$;:<L?CHr=I

P=G=$JBO8:;:$J$=@?$J<CH;MP<$WC=P=;A:P<^$B$P=;Hr=I$P=G=l]$J$?JC:LV

C=;;MP<^$>G:DA<T=JD<$;=$JBO8:;:$J?$JC:LMP<$WC=P=;A:P<(

6(lp:n<A:$ 2)=(04'&F*C02)$;:$>G?<8B=9=;<O$C<A=G:AEGM($Y<;@B<JV

A<T=JD?=$<JJC=9?B:;<=$;:$?J;?B=$:;:C<8:$<;9<B<9E:C<8<GEfn<R$>G<V

8;:D?B$A=DJA:$>?8B?CO=A$?>G=9=C<AH3$ OBCO=AJO$ J>?G;MI$A=DJA$?G<@<V

;:CH;MP$<C<$>G?<8B?9;MP$,>=G=G:L?AD?I$9GE@?@?$A=DJA:/(

1(l7EJ(@2="#$4=)(* &* &3E"* b(0JE* C4&F&%"4'(@(* 324&#&A.* )DA='2.

C0()('2K&A*)DA='&($Y<;@B<JA<T=JD?=$<JJC=9?B:;<=$B$G:PD:R$9=C$9:;V

;MR$D:A=@?G<I$;:>G:BC=;?$;:

• ?>G=9=C=;<=$D?PPE;<D:A<B;?I$G?C<3$D?A?GEf$<@G:=A$D:K9MI

<8$ET:JA;<D?B$G:8@?B?G:$B$?LJEK9=;<<$A?I$<C<$<;?I$A=PM$,>G=KV

9=$BJ=@?$DA?$<;<Q<:A?G$?LJEK9=;<O$9:;;?I$A=PM/^

• BMOBC=;<=$D?PPE;<D:A<B;MR$;:P=G=;<I3$>G<JEn<R$BMJD:8MB:V

;<OP$ ET:JA;<D?B$ G:8@?B?G:3$ A:D<R$ D:D$ E@G?8:3$ AG=L?B:;<=3

>G?JHL:3$>G=9C?K=;<=$?$8:DCfT=;<<$J9=CD<(

'(li";(10(4()"4=32A$ <C<$>G?A<B?G=T:n:O$?Ln=JAB=;;MP$<;A=G=V

J:P$0"'#2J23$C0(C2@23;2$>?G;?@G:N<<3$>G?>:@:;9:$;:GD?A<D?B3$))"N

;"3&"*C(=0"1&="#A*)*D21#Lh;"3&"3$3";(10(4()"4=32A*'(3'L0"3K&A($XLV

n<P$B$9=C:R$9:;;MR$D:A=@?G<I$OBCO=AJO$A?3$TA?$>G:B?;:GEr=;<=$J?V

B=Gr:=AJO$T=G=8$A=DJA3$J>=Q<:CH;?$?G<=;A<G?B:;;MI$;:$>?AG=L<A=CO

A?@?$<C<$<;?@?$A?B:G:$<C<$D:A=@?G<<$A?B:G?B($Y<;@B<JA<T=JD:O$WDJV

>=GA<8:$>?8B?CO=A$BMOB<AH$>?9C<;;?=$J?9=GK:;<=$A:D?@?$A=DJA:\$D:V

D:O$<P=;;?$<;N?GP:Q<O$?$A?B:G=$J??Ln:=AJO$>?AG=L<A=Cf^$R:G:DA=V

G<8E=A$C<$WA:$<;N?GP:Q<O$A?B:G$;=DG<A<T=JD<3$JE@EL?$>?8<A<B;?^$J?V

9=GK<A$C<$A=DJA$EAB=GK9=;<O$?L$<JDCfT<A=CH;MR$>G=<PEn=JAB:R$D?;V

DG=A;?@?$A?B:G:3$;=9?JA:AD:R$D?;DEG<GEfn<R$A?B:G?B$<lA($>(

u=GP<;$!"#!$%$&'$$<J>?CH8E=AJO$B$ 8:D?;?9:A=CHJAB=$SF$<$B?8;<V

D:=A$B$D?;A=DJA=$C<;@B<JA<T=JD<R$WDJ>=GA<8$@C:B;MP$?LG:8?P$<$>?TA<

<JDCfT<A=CH;?$B$JBO8<$J$?@G:;<T=;<OP<3$;:DC:9MB:=PMP<$8:D?;?9:V

A=C=P$;:$JB?L?9E$JC?B:3$;:>G:BC=;;MP<$;:$?RG:;E$N<8<T=JD?@?$<$;G:BV

JAB=;;?@?$89?G?BHO$@G:K9:;3$:$A:DK=$?Ln=JAB=;;?I$<$@?JE9:GJAB=;V

;?I$L=8?>:J;?JA<(

8;:D:$<;9<B<9E:C<8<G?B:AH$?L?8;:T:=PMI$<P$A?B:G3$A?$=JAH$G:8C<T<V

A=CH;:O$ J>?J?L;?JAH3$ OBCO=AJO$ ;=?LR?9<PMP$ EJC?B<=P$ 9CO$ =@?$ >G<V

8;:;<O$A?B:G;MP$8;:D?P(

[C?B=J;M=$A?B:G;M=$8;:D<$OBCOfAJO$?J?LMP$B<9?P$A?B:G;MR$8;:V

D?B($ c?C;?=$ <JJC=9?B:;<=$ JC?B=J;MR$ A?B:G;MR$ 8;:D?B$ B?8P?K;?$ B

G:PD:R$<8ET=;<O$<R$G:8C<T<A=CH;?I$J>?J?L;?JA<$<$C<;@B<JA<T=JD<R

JB?IJAB$ ,=JC<$9CO$D:D?@?VA?$8;:D:$WA?$;=$A:D3$?;$OBCO=AJO$;=$JC?B=JV

;MP3$;?$D?PL<;<G?B:;;MP$<C<$<8?LG:8<A=CH;MP/(

[C?B=J;M=$A?B:G;M=$8;:D<$NE;DQ<?;<GEfA$B$GEJJD?P$A=DJA=3$BDCfV

T:O$JCET:<$<8?C<G?B:;;?@?$E>?AG=LC=;<O$B$GEJJD?I$O8MD?B?I$JG=9=

,;:>G<P=G3$;:$BMB=JD:R3$;:$WA<D=A:R3$;:$OGCMD:R/3$B$D:T=JAB=$<P=;$J?LV

JAB=;;MR3$?L?8;:T:fn<R$A?B:GM3$G:L?AM$<$EJCE@<($#:A=@?G<:CH;:O

J=P:;A<D:$A?B:G;MR$8;:D?B$D:D$<P=;$J?LJAB=;;MR$L=8EJC?B;?$JB<9=V

A=CHJABE=A$?$A?P3$TA?$?;<$OBCOfAJO$<P=;:P<$JEn=JAB<A=CH;MP<$C<L?

JC?B?J?T=A:;<OP<$J$JEn=JAB<A=CH;MPl]$@C:B;MP$JC?B?P(

[$A?TD<$8G=;<O$C<;@B<JA<D<3$JR?K=JAHf$9BER$JC?B=J;MR$?L?8;:T=V

;<I$_$<$0$9?$JA=>=;<$JP=r=;<O$P?K=A$LMAH$;:8B:;?$A:D?=$>?C?K=;<=

9=C3$>G<$D?A?G?P$JEn=JABEfA$EJA?IT<BM=3$G=@ECOG;?$B?J>G?<8B?9<V

PM=$J<AE:Q<<$;?GP:CH;?I$D?PPE;<D:Q<<+3$D?@9:$<J>?CH8?B:;<=$?AV

>G:B<A=C=P$<;N?GP:Q<<$,@?B?GOn<P/$?L?8;:T=;<O$_$>G<B?9<A$D$B?JV

>G<OA<f$WA?I$<;N?GP:Q<<$:9G=J:A?P$,JCEr:fn<P/$D:D$?A;?JOn=IJO

D$?Ls=DAE3$?L?8;:T:=P?PE$0(

[P=r=;<=$P?K=A$>G?<JR?9<AH$D:D$;:$EG?B;=$N<8<T=JD?@?$B?J>G<V

OA<O$,:9G=J:A$;=>G:B<CH;?$G:JJCMr:C$<C<$>G?T<A:C$?L?8;:T=;<=$_/3

A:D$<$;:$EG?B;=$B?J>G<OA<O$>J<R<T=JD?@?$,:9G=J:A$>G:B<CH;?$G:JJCMV

r:C$ <C<$ >G?T<A:C$ ?L?8;:T=;<=$ _3$ ;?$ ?A?K9=JAB<C$ =@?$ J$ ?Ls=DA?P3

?L?8;:T:=PMP$0/(

cG<T<;?I$JP=r=;<O$;:$EG?B;=$N<8<T=JD?@?$B?J>G<OA<O$OBCO=AJO

A?K9=JAB?$<C<$B;=r;==$JR?9JAB?$?L?8;:T=;<I$_$<$0(

[P=r=;<=$;:$EG?B;=$>J<R<T=JD?@?$B?J>G<OA<O$B?8P?K;?$B$JCET:V

OR3$D?@9:$G:8C<T<O$P=K9E$?L?8;:T=;<OP<$_$<$0$B?J>G<;<P:fAJO$D:D

B;=r;==$>G?OBC=;<=$B:G<:A<B;?JA<$?L?8;:T:=PMR$?Ls=DA?B($u:D?B:

J<AE:Q<O3$;:>G<P=G3$<J>?CH8?B:;<O$B$N<GP=;;?P$;:<P=;?B:;<<$A?@?

<C<$<;?@?$N?GP:;A:$,;:>G<P=G3$d>CfJe3$dV<;e3$dV?Ce3$d<;A=G;=r;Ce/

<C<$<;?@?$;=?RG:;?J>?J?L;?@?$?L?8;:T=;<O3$B$A?P$T<JC=$ED:8:;<O$;:

JN=GE$<C<$G?9$9=OA=CH;?JA<$,;:>G<P=G3$dV9=;Ae3$dN<A?Ve3$d:BA?Ve3$dC<V

8<;@e3$dL:;De3$dC<;@B?Ve/($XL?8;:T=;<=3$B$J?JA:B$D?A?G?@?$BR?9<A$?9<;

<8$>?9?L;MR$WC=P=;A?B3$P?K=A$B?J>G<;<P:AHJO$D:D$?L?8;:T=;<=$N<V

+$U=;?GP:CH;MP<$EJC?B<OP<$D?PPE;<D:Q<<$P?@EA$JT<A:AHJO3$;:>G<P=G3$J<AE:Q<O$B?JV

>G<OA<O$><JHP=;;?@?$A=DJA:$ JC:L?B<9On<P3$DCODJ:$;:$LEP:@=$ J$ A=DJA?P3$ J<CH;:O$ 8:V

rEPC=;;?JAH$D:;:C:$:DEJA<T=JD?I$JBO8<3$J<CH;?=$:CD?@?CH;?=$<C<$;:GD?A<T=JD?=$?>HV

O;=;<=$JCEr:fn=@?$<$A(>(

LT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

LS

1$+/0

)*6

-#4

%/)#&

+,

• ;:C<T<=$B$><JHP=;;?P$<C<$EJA;?P$A=DJA=$<;N?GP:Q<<$ ,JB=9=V

;<I/$?$9=IJAB<OR$<C<$>G<=P:R3$D?A?GM=$>G<P=;OfAJO$>G<$<8@?V

A?BC=;<<$;:GD?A<T=JD<R$JG=9JAB$<C<$>J<R?AG?>;MR$B=n=JAB$<

<R$>G=DEGJ?G?B^

• ;:C<T<=$B$><JHP=;;?P$<C<$EJA;?P$A=DJA=$<;N?GP:Q<<$ ,JB=9=V

;<I/$?$9=IJAB<OR$<C<$>G<=P:R3$D?A?GM=$>G<P=;OfAJO$>G<$<JV

>?CH8?B:;<<$;:GD?A<T=JD<R$JG=9JAB$<C<$>J<R?AG?>;MR$B=n=JAB

<$<R$>G=DEGJ?G?B^

• ;:C<T<=$B$><JHP=;;?P$<C<$EJA;?P$A=DJA=$<;N?GP:Q<<$ ,JB=9=V

;<I/$?$P=JA:R$>G<?LG=A=;<O$;:GD?A<T=JD<R$JG=9JAB$<C<$>J<R?V

AG?>;MR$B=n=JAB$<$<R$>G=DEGJ?G?B^

• ;:C<T<=$B$><JHP=;;?P$<C<$EJA;?P$A=DJA=$<;N?GP:Q<<$ ,JB=9=V

;<I/$?$D:D<RVC<L?$JB?IJAB:R3$BM@?9;?$?AC<T:fn<R$D?;DG=A;?=

;:GD?A<T=JD?=$JG=9JAB?$<C<$>J<R?AG?>;?=$B=n=JAB?$?A$9GE@<R

B=n=JAB(

cG<$WA?P$A=GP<;M$7/8@>D1E5C@>53C850CD?>$<$YC1P>D8>Y7>53?5Z5CD?>

9?CK;M$AG:DA?B:AHJO$>?$JPMJCE$8:D?;:$dX$;:GD?A<T=JD<R$JG=9JAB:R$<

>J<R?AG?>;MR$B=n=JAB:Re3$:$<P=;;?l�$D:D$?L?8;:T:fn<=$B=n=JAB:3

BDCfT=;;M=$B$c=G=T=;H$;:GD?A<T=JD<R$JG=9JAB3$>J<R?AG?>;MR$B=n=JAB

<$<R$>G=DEGJ?G?B3$>?9C=K:n<R$D?;AG?Cf$B$S?JJ<IJD?I$F=9=G:Q<<(

Y<;@B<JA<T=JD:O$WDJ>=GA<8:$P?K=A$<$9?CK;:$?>G=9=COAH$;:C<T<=$B

A=DJA=$>=G=T<JC=;;MR$>G<8;:D?B$>G?>:@:;9M3$?9;:D?$WDJ>=GAVC<;@B<JA

;=$B>G:B=$9=C:AH$BMB?9$?$>G<JEAJAB<<$B$A=DJA=$J?LJAB=;;?$>G?>:@:;9M

;:GD?A<D?B3$A?$=JAH$EJA:;:BC<B:AH$N:DA$>G?>:@:;9M$ $;:GD?A<T=JD<R

JG=9JAB3$>J<R?AG?>;MR$B=n=JAB3$<R$>G=DEGJ?G?B$<C<$:;:C?@?B\$WA?$D?PV

>=A=;Q<O$fG<JA?B3$?LC:9:fn<R$J??AB=AJABEfn<P<$8;:;<OP<$<$9?CKV

;?JA;MP<$ >?C;?P?T<OP<$ ,?G@:;?B$ JE9:3$ JC=9JAB<O3$ 9?8;:;<O3$ <;MR

JAGEDAEG3$JBO8:;;MR$J$>G:B??RG:;<A=CH;?I$9=OA=CH;?JAHf/(

*(l,b$G:PD:R$9=C$G:8C<T;MR$D:A=@?G<I/l�$EJA:;?BC=;<=$>?9C<;;?V

@?$4JE4#2*="'4=()*(b&K&2#$3(N;"#()EF*;('LJ"3=()$,;('LJ"3=()";%"4N

'2A$WDJ>=GA<8:/($[>?G;MP<$P?@EA$LMAH\$A:$<C<$<;:O$NG:8:$B$;=D?@9:

8:DCfT=;;?P$9?@?B?G=3$D?A?G:O$J=@?9;O$>?VG:8;?PE$AG:DAE=AJO$ JA?V

G?;:P<^$ ?>G=9=C=;;:O$ N?GPEC<G?BD:$ B$ ;?GP:A<B;?P3$ ;?GP:A<B;?V

>G:B?B?P$<C<$9:K=$J?LJAB=;;?$>G:B?B?P$:DA=$ ,B>C?AH$9?$;=?LR?9<V

P?JA<$A?CD?B:;<O$?A9=CH;MR$JA:A=I$8:D?;:/($b$A=DJA=$CfL?@?$8:D?;:

;:GO9E$J$fG<9<T=JD<P<$A=GP<;:P<$<J>?CH8EfAJO$JC?B:$<$BMG:K=;<O3

;=$<P=fn<=$?J?L?@?$A=GP<;?C?@<T=JD?@?$JA:AEJ:($b$A=R$JCET:OR3$D?@V

9:$J>?G$P=K9E$9BEPO$<C<$;=JD?CHD<P<$fG<JA:P<$B$JE9=$B?8;<D:=A$B

?A;?r=;<<$>?9?L;MR$BMG:K=;<I3$<R$A?CD?B:;<=$9?CK;?$>G?<8B?9<AHV

JO$B$JAG?@?P$J??AB=AJAB<<$J$;?GP:P<$<$>G:B<C:P<$J?BG=P=;;?@?$GEJV

JD?@?$O8MD:($ZA?$BMA=D:=A$<8$?J?L?@?$JA:AEJ:$GEJJD?@?$O8MD:$B$SF

D:D$@?JE9:GJAB=;;?@?3$D?A?GMI$8:DG=>C=;$8:D?;?P$dX$@?JE9:GJAB=;V

;?P$O8MD=$S?JJ<IJD?I$F=9=G:Q<<e(

t:n=$BJ=@?$G=TH$<9=A$?$;:GEr=;<<$;?GP3$EJA:;?BC=;;MR$8:D?;:P<

dX$>G?A<B?9=IJAB<<$WDJAG=P<JAJD?I$9=OA=CH;?JA<e3$dX$;:GD?A<T=JV

D<R$JG=9JAB:R$<$>J<R?AG?>;MR$B=n=JAB:Re$<$dX$[a7e(

XJ?L=;;?JA<$<J>?CH8?B:;<O$WA?@?$A=GP<;:$B$D?;A=DJA=$:;A<WDJAV

G=P<JAJD?@?$8:D?;?9:A=CHJAB:$G:JDGMAM$B$G:89=C=$&(-(

b$J>=Q<:CH;?P$fG<9<T=JD?P$8;:T=;<<$JC?B?$Y8>Y/=/70/$ BR?9<A$B

J?JA:B$ A=GP<;?C?@<T=JD?@?$ J?T=A:;<O$ !"#!$%$&'$( &$")#*+,-.)+/

."-'.*01(!.+/#*"#!&2/(0-3-.*0(+(+/(!"-)4".#"#0$B$T(l-$JA(l&1$p:D?;:$dX

;:GD?A<T=JD<R$JG=9JAB:R$<$>J<R?AG?>;MR$B=n=JAB:Re($c?9$>G?>:@:;V

9?I$89=JH$>?;<P:=AJO$d9=OA=CH;?JAH$N<8<T=JD<R$<C<$fG<9<T=JD<R$C<Q3

;:>G:BC=;;:O$;:$G:J>G?JAG:;=;<=$JB=9=;<I$?$J>?J?L:R3$P=A?9:R$G:8G:V

L?AD<3$<8@?A?BC=;<O$<$<J>?CH8?B:;<O3$P=JA:R$>G<?LG=A=;<Oe$ED:8:;V

;MR$JG=9JAB3$B=n=JAB$<$<JR?9;MR$D?P>?;=;A?B$<C<$ET:JA;<D?B$>G?P=V

KEA?T;MR$G=:DQ<I$>G<$J<;A=8=$WA<R$B=n=JAB$,!"-)4".#"#0/($u:D:O$AG:DV

A?BD:$D:G9<;:CH;?$?AC<T:=AJO$?A$?Ln=O8MD?B?@?$8;:T=;<O$JC?B:$Y8>N

Y/=/70/($p:P=A<P3$B>G?T=P3$TA?$>=G=>EA:AH$9B:$WA<R$8;:T=;<O3$B??Ln=

@?B?GO3$9?B?CH;?$JC?K;?\$WA?PE$>G=>OAJABEfA$C=DJ<D?V@G:PP:A<T=JV

D<=$JB?IJAB:$JC?B3$?LG:8Efn<R$J?JA:B;?I$A=GP<;($7;A=G>G=A<G?B:AH

JC?B?J?T=A:;<=$Y8>Y/=/70/37/8@>D1@>?$B$JPMJC=$dE@CELC=;;?=$G:8sOJV

;=;<=$<C<$G:J>G?JAG:;=;<=$JG=9<$r<G?D?@?$DGE@:$C<Q$;:GD?A<D?Be$;=

>G=9JA:BCO=AJO$B?8P?K;MP3$A:D$D:D$JEn=JAB<A=CH;?=$7/8@>D1@$;=$J>?V

J?L;?$?L?8;:T:AH$B$ J<JA=P=$GEJJD?@?$O8MD:$;=DEf$<9=f$<C<$ET=;<=3

D?A?GM=$P?K;?$LMC?$LM$G:8sOJ;OAH$TC=;:P$?Ln=JAB:(

[C=9E=A$<P=AH$B$B<9E3$TA?$>G<B=9=;;?=$?>G=9=C=;<=$>G?>:@:;9M

<8$T(l-$JA(l&1$ED:8:;;?@?$8:D?;:$;=$<P==A$;<D:D?@?$?A;?r=;<O$D$JC?B?V

J?T=A:;<f$Y8>Y/=/70/3Y8512GZ5CD?3$BJAG=T:fn=PEJO$B$T($+$A?I$K=$JA:V

AH<$ ,dp:>G=n:=AJO$>G?>:@:;9:$D:D<RVC<L?$>G=<PEn=JAB$<J>?CH8?B:V

;<O$?A9=CH;MR$;:GD?A<T=JD<R$JG=9JAB�e/($p9=JH$<P==AJO$B$B<9E$<P=;V

;?$?Ln=E>?AG=L<A=CH;?=$8;:T=;<=$JC?B:$Y8>Y/=/70/3$A($=($E@CELC=;;?=

G:8sOJ;=;<=3$G:J>G?JAG:;=;<=$JB=9=;<I3$B$9:;;?P$JCET:=3$?$>G=<PEV

n=JAB:R$<J>?CH8?B:;<O$?A9=CH;MR$B<9?B$;:GD?A<T=JD<R$JG=9JAB($S=TH

<9=A$?$G:J>G?JAG:;=;<<$>G=9JA:BC=;<I$?$D:D<RVC<L?$JB?IJAB:R3$BMV

@?9;?$?AC<T:fn<R$D?;DG=A;?=$B=n=JAB?$?A$9GE@<R$;:GD?A<T=JD<R$<C<

>J<R?AG?>;MR$JG=9JAB($c?9T=GD;=P3$TA?$<JA<;;?JAH3$9?JA?B=G;?JAH

G:J>G?JAG:;O=PMR$JB=9=;<I$89=JH$8;:T=;<O$;=$<P==A(

Y<;@B<JA<T=JD<P<$>G<8;:D:P<$>G?>:@:;9M$B$JN=G=$?L?G?A:$;:GV

D?A<T=JD<R$JG=9JAB3$>J<R?AG?>;MR$B=n=JAB$<C<$<R$>G=DEGJ?G?B3$8:>V

G=n=;;?I$>?$JPMJCE$T(l-$<$+$JA(l&1$8:D?;:$dX$;:GD?A<T=JD<R$JG=9JAB:R

<$>J<R?AG?>;MR$B=n=JAB:Re3$OBCOfAJO$JC=9Efn<=\

• ;:C<T<=$B$><JHP=;;?P$<C<$EJA;?P$A=DJA=$<;N?GP:Q<<$ ,JB=9=V

;<I/$?$9=IJAB<OR$<C<$>G<=P:R3$D?A?GM=$>G<P=;OfAJO$>G<$G:8V

G:L?AD=$;:GD?A<T=JD<R$JG=9JAB$<C<$>J<R?AG?>;MR$B=n=JAB$<$<R

>G=DEGJ?G?B^

Lh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

LI

1$+/0

)*6

-#4

%/)#&

+,

9=;<OR$a<;<JA=GJAB:$fJA<Q<<$S?JJ<IJD?I$F=9=G:Q<<e$JT<A:AH$EAG:V

A<Br<P$J<CE(

lllll

a<;<JAG

`(t:ID:

:0&#(h"3&"*Y*>

D$>G<D:8E$a<;<JA=GJAB:$fJA<Q<<$S?JJ<IJD?I$F=9=G:Q<<

?A$-&$P:O$+22%$@?9:$q$--&

:jMj<jik

0(;()*_)&;()`*B'4C"0=&D.*)EC(#3A"JEF*)*4L;"13(NB'4C"0=3EF

L%0"h;"3&AF*6&3&4="04=)2*g4=&K&&*M(44&54'(5*W";"02K&&

,J$<8P=;=;<OP<$;:$)$P:GA:$+221$@?9:/

:(%"0'()";%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$>?T=GD:$<$>?9><J=I

l l

-)=(0()";%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$><JHP=;;?I$G=T<$J$Q=CHf$EJA:;?BC=;<O$:BA?GJAB:

l l l l

d"F3&%"4'2A*B'4C"0=&D2*;('LJ"3=()

7JJC=9?B:;<=$G=DB<8<A?B$9?DEP=;A?B

7JJC=9?B:;<=$P:A=G<:C?B$9?DEP=;A?B

W(=(="F3&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$N?A?@G:N<T=JD<R$<8?LG:K=;<I$<$A=R;<T=JD<R$JG=9JAB3$<JV

>?CH8E=PMR$9CO$<R$<8@?A?BC=;<O

7JJC=9?B:;<=$N?A?@G:N<T=JD<R$P:A=G<:C?B

l l l l l

:(0=0"=32A* B'4C"0=&D2

79=;A<N<D:Q<O$T=C?B=D:$>?$N?A?@G:N<T=JD<P$<8?LG:K=;<OP

l l l

d0244(#(@&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$JC=9?B$T=C?B=D:

7JJC=9?B:;<=$JC=9?B$?GE9<I3$<;JAGEP=;A?B3$P=R:;<8P?B

7JJC=9?B:;<=$JC=9?B$AG:;J>?GA;MR$JG=9JAB$,AG:;J>?GA;?VAG:JJ?C?@<T=JV

D:O$<9=;A<N<D:Q<O/

7JJC=9?B:;<=$JC=9?B$K<B?A;MR$,;?@3$8EL?B/

Q'4C"0=&D2*)&;"(N*&*D)L'(D2C&4"5

7JJC=9?B:;<=$@?C?J:$<$8BET:n=I$G=T<

7JJC=9?B:;<=$8BED?B?I$JG=9M3$EJC?B<I3$JG=9JAB3$P:A=G<:C?B$<$JC=9?B$8BEV

D?8:><J=I

7JJC=9?B:;<=$B<9=?<8?LG:K=;<I3$EJC?B<I3$JG=9JAB3$P:A=G<:C?B$<$JC=9?B

B<9=?8:><J=I

ZDJ>=GA<8:$?GEK<O$<$JC=9?B$BMJAG=C:

7JJC=9?B:;<=$?@;=JAG=CH;?@?$?GEK<O$<$>:AG?;?B$D$;=PE

c?P<P?$J?LJAB=;;?$C<;@B<JA<T=JD?I$WDJ>=GA<8M$JEn=JABEfA$A:DK=

9B:$;:<L?C==$JC?K<Br<RJO3$EJA?OBr<RJO$B<9:$WDJ>=GA<8M3$B$D?A?GMR$A:DK=

>G<P=;OfAJO$C<;@B<JA<T=JD<=$8;:;<O\$WDJ>=GA<8:$2)=(0()";%"4'2A$,;:>G:BV

C=;:$;:$>G?B=GDE$:BA?GJAB:$A=DJA:$C<L?$EJA:;?BC=;<=$C<T;?JA;MR$R:G:DV

A=G<JA<D$:BA?G:3$A:D<R$D:D$=@?$EG?B=;H$?LG:8?B:;<O3$?LC:JAH$9=OA=CH;?JV

A<3$>G?N=JJ<O3$R?LL<3$>?C3$B?8G:JA3$J?Q<:CH;?=$>?C?K=;<=3$;:Q<?;:CHV

;?JAH$<lA(l>(3$B$A:DK=$N:DA:$J?8;:A=CH;?@?$<JD:K=;<O$><JHP=;;?I$G=T</$<

b(3(4'(C&%"4'2A$,;:>G:BC=;:$;:$<9=;A<N<D:Q<f$@?B?GOn=@?$>?$8:><J<

8BET:n=I$G=T<3$EJA:;?BC=;<=$A?T;?@?$G=T=B?@?$J?9=GK:;<O$8:rEPC=;V

;?I$:E9<?8:><J<3$?>G=9=C=;<=$;:C<T<O$<C<$?AJEAJAB<O$P?;A:K:$<lA(l>(/(

S"L"`68?AG>KF@AF"68?ABD[6-A@ANEF?NEHD6iNEAfAA/d6>E6R6CD?ED6hTTO6V"6>6ZF?FW@F6?>J>HjHAJ>Hk6YBNZF?EA[

a7U7[u�S[ubX$`[u7�77$SX[[7�[#X�$F�"�S_�77

cS7#_p

?A$-&$P:O$+22%$@?9:$q$--&

XL$EAB=GK9=;<<$c=G=T;O$G?9?B$,B<9?B/$WDJ>=GA<83$BM>?C;O=PMR$B

@?JE9:GJAB=;;MR$JE9=L;?VWDJ>=GA;MR$ETG=K9=;<OR$a<;<JA=GJAB:

fJA<Q<<$S?JJ<IJD?I$F=9=G:Q<<3$<$c=G=T;O$WDJ>=GA;MR$J>=Q<:CH;?JA=I3

>?$D?A?GMP$>G=9?JA:BCO=AJO$>G:B?$J:P?JA?OA=CH;?@?$>G?<8B?9JAB:

JE9=L;MR$WDJ>=GA<8$B$@?JE9:GJAB=;;MR$JE9=L;?VWDJ>=GA;MR

ETG=K9=;<OR$a<;<JA=GJAB:$fJA<Q<<$S?JJ<IJD?I$F=9=G:Q<<

,J$<8P=;=;<OP<$;:$)$P:GA:$+221$@?9:/

b$Q=COR$?L=J>=T=;<O$=9<;?@?$;:ET;?VP=A?9<T=JD?@?$>?9R?9:$D$>G?V

<8B?9JABE$JE9=L;MR$WDJ>=GA<8$B$@?JE9:GJAB=;;MR$JE9=L;?VWDJ>=GA;MR

ETG=K9=;<OR$a<;fJA:$S?JJ<<

lllll

>G<D:8MB:f\

-($ !AB=G9<AH$ c=G=T=;H$ G?9?B$ ,B<9?B/$ WDJ>=GA<83$ BM>?C;O=PMR$ B

JE9=L;?VWDJ>=GA;MR$ETG=K9=;<OR$a<;fJA:$S?JJ<<3$ J?@C:J;?$ >G<C?V

K=;<f$q$-(

+($ !AB=G9<AH$ c=G=T=;H$ WDJ>=GA;MR$ J>=Q<:CH;?JA=I3$ >?$ D?A?GMP

>G=9?JA:BCO=AJO$>G:B?$J:P?JA?OA=CH;?@?$>G?<8B?9JAB:$JE9=L;MR$WDJV

>=GA<8$B$JE9=L;?VWDJ>=GA;MR$ETG=K9=;<OR$a<;fJA:$S?JJ<<3$J?@C:J;?

>G<C?K=;<f$q$+(

l%($cG<D:8$a<;fJA:$S?JJ<<$?A$%2(--(+222$q$%1%$dcG<P=G;MI$c=V

G=T=;H$B<9?B$WDJ>=GA<83$ BM>?C;O=PMR$B$ JE9=L;?VWDJ>=GA;MR$ETG=KV

LL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

LM

1$+/0

)*6

-#4

%/)#&

+,

7D0E)(="F3(#(@&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$A=R;<T=JD<R$<$?G@:;<8:Q<?;;MR$>G<T<;3$EJC?B<I$B?8;<DV

;?B=;<O3$R:G:DA=G:$>G?A=D:;<O$B8GMB:$<$ =@?$>?JC=9JAB<I$;:$?Ls=DA:R$>G?V

PMrC=;;?JA<3$AG:;J>?GA:3$J=CHJD?@?$<$D?PPE;:CH;?@?$R?8OIJAB:

R=0(&="#$3(N="F3&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$JAG?<A=CH;MR$?Ls=DA?B$<$A=GG<A?G<<3$NE;DQ<?;:CH;?$JBOV

8:;;?I$J$;<P<3$B$A?P$T<JC=$J$Q=CHf$>G?B=9=;<O$<R$?Q=;D<

!LF@2#="04'2A* B'4C"0=&D2

7JJC=9?B:;<=$8:><J=I$LER@:CA=GJD?@?$ET=A:$J$Q=CHf$EJA:;?BC=;<O$;:C<V

T<O$<C<$?AJEAJAB<O$B$;<R$<JD:K=;;MR$9:;;MR

W&3234()(NB'(3(J&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$>?D:8:A=C=I$N<;:;J?B?@?$J?JA?O;<O$<$N<;:;J?B?VWD?;?P<V

T=JD?I$9=OA=CH;?JA<$R?8OIJABEfn=@?$JELs=DA:

7JJC=9?B:;<=$>G<8;:D?B$<$J>?J?L?B$<JD:K=;<O$9:;;MR$?$N<;:;J?BMR$>?V

D:8:A=COR3$BC<Ofn<R$;:$N<;:;J?BMI$G=8ECHA:A$<$G:JT=AM$>?$?LO8:A=CHJAB:P

R?8OIJABEfn=@?$JELs=DA:

7JJC=9?B:;<=$G:JT=A:$9?C=B?@?$ET:JA<O$ETG=9<A=C=I$,:DQ<?;=G?B/$B$<PEV

n=JAB=$<$G:J>G=9=CO=P?I$>G<LMC<$R?8OIJABEfn=@?$JELs=DA:

7JJC=9?B:;<=$>G<8;:D?B$<$J>?J?L?B$<JD:K=;<O$9:;;MR$?$N<;:;J?BMR$>?D:V

8:A=COR3$R:G:DA=G<8Efn<R$>C:A=K=J>?J?L;?JAH3$DG=9<A?J>?J?L;?JAH3$<J>?CH8?V

B:;<=$<$B?8BG:A;?JAH$DG=9<A?B$R?8OIJABEfn=@?$JELs=DA:

7JJC=9?B:;<=$>?D:8:A=C=I3$R:G:DA=G<8Efn<R$N?GP<G?B:;<=$G:8P=G:$,B=V

C<T<;M/$?>C:AM$AGE9:$J$Q=CHf$EJA:;?BC=;<O$?ADC?;=;<I$?A$9=IJABEfn<R$;?GP

d()20()";%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$>G?PMrC=;;MR$,;=>G?9?B?CHJAB=;;MR/$A?B:G?B3$B$A?P$T<JV

C=$J$Q=CHf$>G?B=9=;<O$<R$?Q=;D<

7JJC=9?B:;<=$>G?9?B?CHJAB=;;MR$A?B:G?B%

7JJC=9?B:;<=$AG:;J>?GA;MR$JG=9JAB3$B$A?P$T<JC=$J$Q=CHf$>G?B=9=;<O$<R

?Q=;D<

:4&F(#(@&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$>J<R?C?@<<$<$>J<R?N<8<?C?@<<$T=C?B=D:

#?P>HfA=G;?VA=R;<T=JD:O$ WDJ>=GA<8:

7JJC=9?B:;<=$<;N?GP:Q<?;;MR$D?P>HfA=G;MR$JG=9JAB

Q'(#(@&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$WD?C?@<T=JD?@?$J?JA?O;<O$?Ls=DA?B$>?TB=;;?V@=?C?@<T=JV

D?@?$>G?<JR?K9=;<O(

7JJC=9?B:;<=$ WD?C?@<T=JD?@?$ J?JA?O;<O$ =JA=JAB=;;MR$ <$ <JDEJJAB=;;MR

L<?Q=;?8?B(

7JJC=9?B:;<=$JC=9?B$<$?LJA?OA=CHJAB$BMJAG=C:

7JJC=9?B:;<=$R?C?9;?@?$?GEK<O

Q'4C"0=&D2*J20'&0()(%3EF*(1(D32%"3&5

7JJC=9?B:;<=$P:GD<G?B?T;MR$?L?8;:T=;<I$;:$<89=C<OR$<8$P=A:CC?B3$>?V

C<P=G;MR$<$<;MR$P:A=G<:C?B

7D0E)(="F3&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$B8GMBT:AMR$B=n=JAB3$>G?9EDA?B$<$JC=9?B$<R$B8GMB:

7JJC=9?B:;<=$L?=>G<>:J?B3$B8GMB;MR$EJAG?IJAB$<$JC=9?B$<R$B8GMB:

7JJC=9?B:;<=$>?G?R?B3$><G?A=R;<T=JD<R$J?JA:B?B$<$JC=9?B$<R$J@?G:;<O

V0&J&32#&4=&%"4'2A*B'4C"0=&D2*J2="0&2#().*)"H"4=)*&*&D;"#&5

7JJC=9?B:;<=$B?C?D;<JAMR$P:A=G<:C?B$<$<89=C<I$<8$;<R

7JJC=9?B:;<=$C:D?DG:J?T;MR$P:A=G<:C?B$<$>?DGMA<I

7JJC=9?B:;<=$;=NA=>G?9EDA?B$<$@?GfT=VJP:8?T;MR$P:A=G<:C?B

7JJC=9?B:;<=$<89=C<I$<8$P=A:CC?B$<$J>C:B?B

7JJC=9?B:;<=$;:GD?A<T=JD<R$JG=9JAB3$>J<R?AG?>;MR$B=n=JAB$<$<R$>G=DEGV

J?G?B3$J<CH;?9=IJABEfn<R$<$O9?B<AMR$B=n=JAB3$C=D:GJAB=;;MR$JG=9JAB

7JJC=9?B:;<=$<89=C<I$<8$ JA=DC:$<$D=G:P<D<3$ J<C<D:A;MR$JAG?<A=CH;MR

P:A=G<:C?B

7JJC=9?B:;<=$J><GA?J?9=GK:n<R$K<9D?JA=I

7JJC=9?B:;<=$<89=C<I$<8$G=8<;M3$>C:JAP:JJ$<$9GE@<R$>?C<P=G;MR$P:A=G<V

:C?B

7JJC=9?B:;<=$:BA?P?L<CH;MR$WC=DAG?C:P>

7JJC=9?B:;<=$<89=C<I$>:GNfP=G;?I$>G?PMrC=;;?JA<

7JJC=9?B:;<=$9G:@?Q=;;MR3$>?CE9G:@?Q=;;MR$D:P;=I3$P<;=G:C?B$<$@?GV

;MR$>?G?9

7JJC=9?B:;<=$B=n=JAB$;=EJA:;?BC=;;?I$>G<G?9M

:(%)()";%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$?Ls=DA?B$>?TB=;;?@?$>G?<JR?K9=;<O

0<?C?@<T=JD:O$ WDJ>=GA<8:

7JJC=9?B:;<=$?Ls=DA?B$G:JA<A=CH;?@?$>G?<JR?K9=;<O

7JJC=9?B:;<=$?Ls=DA?B$K<B?A;?@?$>G?<JR?K9=;<O

-)=(="F3&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$?LJA?OA=CHJAB$9?G?K;?VAG:;J>?GA;?@?$>G?<Jr=JAB<O

7JJC=9?B:;<=$A=R;<T=JD?@?$J?JA?O;<O$AG:;J>?GA;MR$JG=9JAB

7JJC=9?B:;<=$JC=9?B$;:$AG:;J>?GA;MR$JG=9JAB:R$<$P=JA=$9?G?K;?VAG:;JV

>?GA;?@?$>G?<Jr=JAB<O$ ,AG:;J>?GA;?VAG:JJ?C?@<T=JD:O$9<:@;?JA<D:/

7JJC=9?B:;<=$A=R;<T=JD?@?$J?JA?O;<O$9?G?@<3$9?G?K;MR$EJC?B<I$;:$P=JV

A=$9?G?K;?VAG:;J>?GA;?@?$>G?<Jr=JAB<O

7JJC=9?B:;<=$AG:;J>?GA;MR$JG=9JAB$B$Q=COR$?>G=9=C=;<O$JA?<P?JA<$B?JV

JA:;?B<A=CH;?@?$G=P?;A:$<$?JA:A?T;?I$JA?<P?JA<

:(h203(N="F3&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$A=R;?C?@<T=JD<R3$A=R;<T=JD<R3$?G@:;<8:Q<?;;MR$<$<;MR$>G<V

T<;3$EJC?B<I$B?8;<D;?B=;<O3$R:G:DA=G:$>G?A=D:;<O$>?K:G:$<$=@?$>?JC=9JAB<I

%$"CO$>G?<8B?9JAB:$JE9=L;MR$WDJ>=GA<8$>G?9?B?CHJAB=;;MR$A?B:G?B$@?JE9:GJAB=;;M=

JE9=L;?VWDJ>=GA;M=$ETG=K9=;<O$9?CK;M$>G?IA<$:DDG=9<A:Q<f$J$Q=CHf$>?9AB=GK9=V

;<O$D?P>=A=;Q<<$;:$>G?B=9=;<=$<J>MA:;<I$><n=BMR$>G?9EDA?B$<$>G?9?B?CHJAB=;;?@?

JMGHO$B$[<JA=P=$ J=GA<N<D:Q<<$4X[u$S$<$ ,<C</$[<JA=P=$:DDG=9<A:Q<<$C:L?G:A?G<I

4?JE9:GJAB=;;?I$J:;<A:G;?VW><9=P<?C?@<T=JD?I$JCEKLM$S?JJ<IJD?I$F=9=G:Q<<(

LO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

LP

1$+/0

)*6

-#4

%/)#&

+,

Y M(;E Q'4C"0=3E"* 4C"K&2#$3(4=&

ClC 4L;"13EF*B'4C"0=&D

> I O

* XGEK<O$<$JC=9?B *(-$7JJC=9?B:;<=$?@;=JAG=CH;?@?$?GEK<O

BMJAG=C: <$>:AG?;?B$D$;=PE

*(+$7JJC=9?B:;<=$JC=9?B$<$?LJA?OA=CHJAB

BMJAG=C:

*(%$7JJC=9?B:;<=$R?C?9;?@?$?GEK<O

) b8GMB?VA=R;<T=JD:O )(-$7JJC=9?B:;<=$B8GMBT:AMR$B=n=JAB3

>G?9EDA?B$<$JC=9?B$<R$B8GMB:

)(+$7JJC=9?B:;<=$L?=>G<>:J?B3$B8GMB;MR

EJAG?IJAB$<$JC=9?B$<R$B8GMB:

)(%$7JJC=9?B:;<=$>?G?R?B3$><G?A=R;<T=JD<R

J?JA:B?B$<$JC=9?B$<R$J@?G:;<O

-2 a:A=G<:C?B3 -2(-$7JJC=9?B:;<=$B?C?D;<JAMR$P:A=G<:C?B

B=n=JAB$<$<89=C<I $<$<89=C<I$<8$;<R

-2(+$7JJC=9?B:;<=$C:D?DG:J?T;MR$P:A=G<:C?B

<$>?DGMA<I

-2(%$7JJC=9?B:;<=$;=NA=>G?9EDA?B$<

@?GfT=VJP:8?T;MR$P:A=G<:C?B

-2(&$7JJC=9?B:;<=$<89=C<I$<8$P=A:CC?B

<$J>C:B?B

-2(6$7JJC=9?B:;<=$;:GD?A<T=JD<R$JG=9JAB3

>J<R?AG?>;MR$B=n=JAB$<$<R$>G=DEGJ?G?B3

J<CH;?9=IJABEfn<R$<$O9?B<AMR$B=n=JAB3

C=D:GJAB=;;MR$JG=9JAB

-2(1$7JJC=9?B:;<=$<89=C<I$<8$JA=DC:$<

D=G:P<D<3$J<C<D:A;MR$JAG?<A=CH;MR

P:A=G<:C?B

-2('$7JJC=9?B:;<=$J><GA?J?9=GK:n<R

K<9D?JA=I

-2(*$7JJC=9?B:;<=$<89=C<I$<8$G=8<;3$>C:JAP:JJ

<$9GE@<R$>?C<P=G;MR$P:A=G<:C?B

-- c?TB?B=9T=JD:O --(-$7JJC=9?B:;<=$?Ls=DA?B$>?TB=;;?@?

>G?<JR?K9=;<O

-+ 0<?C?@<T=JD:O -+(-$7JJC=9?B:;<=$?Ls=DA?B$G:JA<A=CH;?@?

>G?<JR?K9=;<O

-+(+$7JJC=9?B:;<=$?Ls=DA?B$K<B?A;?@?

>G?<JR?K9=;<O

-% _BA?A=R;<T=JDBO -%(-$7JJC=9?B:;<=$?LJA?OA=CHJAB

9?G?K;?VAG:;J>?GA;?@?$>G?<Jr=JAB<O

-%(+$7JJC=9?B:;<=$A=R;<T=JD?@?$J?JA?O;<O

AG:;J>?GA;MR$JG=9JAB

-%(%$7JJC=9?B:;<=$JC=9?B$;:$AG:;J>?GA;MR

JG=9JAB:R$<$P=JA=$"uc$,AG:;J>?GA;?V

AG:JJ?C?@<T=JD:O$9<:@;?JA<D:/3$:$A:DK=

A=R;<T=JD?@?$J?JA?O;<O$9?G?@<3$9?G?K;MR

EJC?B<I$;:$P=JA=$"uc

7JJC=9?B:;<=$G:9<:Q<?;;?I$?LJA:;?BD<

,ZDJ>=GA<8:$ 9?>?C;<A=CH;?$ BDCfT=;:$ J$ &$ ?DAOLGO$ +226$ @?9:$ >G<D:8?P

a<;fJA:$S?JJ<<$?A$-+$J=;AOLGO$+226$@?9:$q$-1)/

Q'4C"0=&D2* B#"'=0(1E=()(5*="F3&'&

7JJC=9?B:;<=$G:9<?WC=DAG?;;MR3$WC=DAG?A=R;<T=JD<R3$WC=DAG?P=R:;<T=JV

D<R$EJAG?IJAB$LMA?B?@?$;:8;:T=;<O

,ZDJ>=GA<8:$ 9?>?C;<A=CH;?$ BDCfT=;:$ J$ &$ ?DAOLGO$ +226$ @?9:$ >G<D:8?P

a<;fJA:$S?JJ<<$?A$-+$J=;AOLGO$+226$@?9:$q$-1)/

?&3@)&4=&%"4'2A* B'4C"0=&D2

7JJC=9?B:;<=$>G?9EDA?B$G=T=B?I$9=OA=CH;?JA<

,ZDJ>=GA<8:$9?>?C;<A=CH;?$BDCfT=;:$>G<D:8?P$a<;fJA:$S?JJ<<$?A$)$P:GV

A:$+221$@?9:$q$%1/

:0&#(h"3&"*Y*I

D$>G<D:8E$a<;<JA=GJAB:$fJA<Q<<$S?JJ<IJD?I$F=9=G:Q<<

?A$-&$P:O$+22%$@?9:$q$--&

llll

c�S�t�U�

WDJ>=GA;MR$J>=Q<:CH;?JA=I3$>?$D?A?GMP$>G=9?JA:BCO=AJO$>G:B?

J:P?JA?OA=CH;?@?$>G?<8B?9JAB:$JE9=L;MR$WDJ>=GA<8

B$JE9=L;?VWDJ>=GA;MR$ETG=K9=;<OR$a<;<JA=GJAB:$fJA<Q<<

S?JJ<IJD?I$F=9=G:Q<<

,J$<8P=;=;<OP<$;:$)$P:GA:$+221$@?9:/

Y M(;E Q'4C"0=3E"* 4C"K&2#$3(4=&

ClC 4L;"13EF*B'4C"0=&D

> I O

- c?T=GD?B=9T=JD:O -(-$7JJC=9?B:;<=$>?T=GD:$<$>?9><J=I

+ _BA?G?B=9T=JD:O +(-$7JJC=9?B:;<=$><JHP=;;?I$G=T<

% u=R;<T=JD:O %(-$7JJC=9?B:;<=$G=DB<8<A?B$9?DEP=;A?B

WDJ>=GA<8:$9?DEP=;A?B %(+$7JJC=9?B:;<=$P:A=G<:C?B$9?DEP=;A?B

& F?A?A=R;<T=JD:O &(-$7JJC=9?B:;<=$N?A?@G:N<T=JD<R

<8?LG:K=;<I$<$A=R;<T=JD<R$JG=9JAB3

<J>?CH8E=PMR$9CO$<R$<8@?A?BC=;<O

&(+($7JJC=9?B:;<=$N?A?@G:N<T=JD<R$P:A=G<:C?B

6 c?GAG=A;:O 6(-$79=;A<N<D:Q<O$T=C?B=D:

>?$N?A?@G:N<T=JD<P$<8?LG:K=;<OP

1 uG:JJ?C?@<T=JD:O 1(-$7JJC=9?B:;<=$JC=9?B$T=C?B=D:

1(+$7JJC=9?B:;<=$JC=9?B$?GE9<I3$<;JAGEP=;A?B3

P=R:;<8P?B3$AG:;J>?GA;MR$JG=9JAB

' b<9=?V$< '(-$7JJC=9?B:;<=$@?C?J:$<$8BET:n=I$G=T<

8BED?8:><J=I '(+$7JJC=9?B:;<=$8BED?B?I$JG=9M3$EJC?B<I3

JG=9JAB3$P:A=G<:C?B$<$JC=9?B$8BED?8:><J=I

'(%$7JJC=9?B:;<=$B<9=?<8?LG:K=;<I3$EJC?B<I3

JG=9JAB3$P:A=G<:C?B$<$JC=9?B$B<9=?8:><J=I

LQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HQ*0RSLJ*DATIABU*OJAILL*L*TIECOLCL

LR

1$+/0

)*6

-#4

%/)#&

+,

Y M(;E Q'4C"0=3E"* 4C"K&2#$3(4=&

ClC 4L;"13EF*B'4C"0=&D

> I O

++(+$cG<P=;=;<=$P=A?9?B$:A?P;?I

J>=DAG?JD?><<$>G<$<JJC=9?B:;<<$?Ls=DA?B

JE9=L;?I$WDJ>=GA<8M

++(%$cG<P=;=;<=$G=;A@=;?@G:N<T=JD<R

P=A?9?B$>G<$<JJC=9?B:;<<$?Ls=DA?B

JE9=L;?I$WDJ>=GA<8M

++(&$cG<P=;=;<=$G=;A@=;?J>=DAG:CH;MR

P=A?9?B$<$P=A?9?B$WC=DAG?;;?I

P<DG?JD?><<$>G<$<JJC=9?B:;<<$?Ls=DA?B

JE9=L;?I$WDJ>=GA<8M

++(6$cG<P=;=;<=$RG?P:A?@G:N<T=JD<R

P=A?9?B$>G<$<JJC=9?B:;<<$?Ls=DA?B

JE9=L;?I$WDJ>=GA<8M

+% a:GD<G?B?T;MR +%(-($7JJC=9?B:;<=$P:GD<G?B?T;MR

?L?8;:T=;<I ?L?8;:T=;<I$;:$<89=C<OR$<8$P=A:CC?B3

>?C<P=G;MR$<$<;MR$P:A=G<:C?B

,>E;DA$9?>?C;<A=CH;?$BDCfT=;$J

&$?DAOLGO$+226$@?9:$>G<D:8?P$a<;fJA:

S?JJ<<$?A$-+$J=;AOLGO$+226$@?9:$q$-1)/

+& ZD?C?@<T=JD:O +&(-($7JJC=9?B:;<=$WD?C?@<T=JD?@?

J?JA?O;<O$?Ls=DA?B$>?TB=;;?V

@=?C?@<T=JD?@?$>G?<JR?K9=;<O

+&(+($7JJC=9?B:;<=$WD?C?@<T=JD?@?

J?JA?O;<O$=JA=JAB=;;MR$<$<JDEJJAB=;;MR

L<?Q=;?8?B

+&(%($7JJC=9?B:;<=$G:9<:Q<?;;?I

?LJA:;?BD<$,>E;DA$9?>?C;<A=CH;?$BDCfT=;$J

&$?DAOLGO$+226$@?9:$>G<D:8?P$a<;fJA:

S?JJ<<$?A$-+$J=;AOLGO$+226$@?9:$q$-1)/

+6 ZDJ>=GA<8: +6(-($7JJC=9?B:;<=$G:9<?WC=DAG?;;MR3

WC=DAG?LMA?B?I WC=DAG?A=R;<T=JD<R3$WC=DAG?P=R:;<T=JD<R

A=R;<D< EJAG?IJAB$LMA?B?@?$;:8;:T=;<O ,>E;DA

9?>?C;<A=CH;?$BDCfT=;$J$&$?DAOLGO$+226$@?9:

>G<D:8?P$a<;fJA:$S?JJ<<$?A$-+$J=;AOLGO

+226$@?9:$q$-1)/

+1 Y<;@B<JA<T=JD:O +1(-($7JJC=9?B:;<=$>G?9EDA?B$G=T=B?I

9=OA=CH;?JA<$,>E;DA$9?>?C;<A=CH;?$BDCfT=;

>G<D:8?P$a<;fJA:$S?JJ<<$?A$)$P:GA:

+221$@?9:$q$%1/

lllll

S=9:DQ<Ol9?DEP=;A:lJlET=A?Pl<8P=;=;<Il<l9?>?C;=;<I

>?9@?A?BC=;:lp_Xld#X"�#[e

���y\�����({y�z{���{z|(xzyx���|wv���|���|�)2-*1%%)'�yx}��wv�)2-*'%&&%

Y M(;E Q'4C"0=3E"* 4C"K&2#$3(4=&

ClC 4L;"13EF*B'4C"0=&D

> I O

-%(&($7JJC=9?B:;<=$AG:;J>?GA;MR$JG=9JAB

B$Q=COR$?>G=9=C=;<O$JA?<P?JA<

B?JJA:;?B<A=CH;?@?$G=P?;A:$<$?JA:A?T;?I

JA?<P?JA<

-& c?K:G;?V -&(-($7JJC=9?B:;<=$A=R;?C?@<T=JD<R3

A=R;<T=JD:O A=R;<T=JD<R3$?G@:;<8:Q<?;;MR$<$<;MR

>G<T<;3$EJC?B<I$B?8;<D;?B=;<O3

R:G:DA=G:$>G?A=D:;<O$>?K:G:$<$=@?

>?JC=9JAB<I

-6 b8GMB?A=R;?C?@<T=V -6(-$7JJC=9?B:;<=$A=R;<T=JD<R$<

JD:O ?G@:;<8:Q<?;;MR$>G<T<;3$EJC?B<I

B?8;<D;?B=;<O3$R:G:DA=G:$>G?A=D:;<O

B8GMB:$<$=@?$>?JC=9JAB<I$;:$?Ls=DA:R

>G?PMrC=;;?JA<3$AG:;J>?GA:3$J=CHJD?@?

<$D?PPE;:CH;?@?$R?8OIJAB:

-1 [AG?<A=CH;?V -1(-$7JJC=9?B:;<=$JAG?<A=CH;MR$?Ls=DA?B

A=R;<T=JD:O <$A=GG<A?G<<3$NE;DQ<?;:CH;?$JBO8:;;?I

J$;<P<3$B$A?P$T<JC=$J$Q=CHf$>G?B=9=;<O

<R$?Q=;D<

-' 0ER@:CA=GJD:O -'(-$7JJC=9?B:;<=$8:><J=I$LER@:CA=GJD?@?

ET=A:

-* F<;:;J?B?V -*(-$7JJC=9?B:;<=$>?D:8:A=C=I$N<;:;J?B?@?

WD?;?P<T=JD:O J?JA?O;<O$<$N<;:;J?B?VWD?;?P<T=JD?I

9=OA=CH;?JA<$R?8OIJABEfn=@?$JELs=DA:

-) u?B:G?B=9T=JD:O -)(-$7JJC=9?B:;<=$>G?PMrC=;;MR

,;=>G?9?B?CHJAB=;;MR/$A?B:G?B3$B$A?P

T<JC=$J$Q=CHf$>G?B=9=;<O$<R$?Q=;D<

-)(+$7JJC=9?B:;<=$>G?9?B?CHJAB=;;MR

A?B:G?B&

-)(%$7JJC=9?B:;<=$AG:;J>?GA;MR$JG=9JAB3

B$A?P$T<JC=$J$Q=CHf$>G?B=9=;<O$<R$?Q=;D<

+2 cJ<R?C?@<T=JD:O +2(-($7JJC=9?B:;<=$>J<R?C?@<<$<

>J<R?N<8<?C?@<<$T=C?B=D:

+- #?P>HfA=G;?V +-(-($7JJC=9?B:;<=$<;N?GP:Q<?;;MR

A=R;<T=JD:O D?P>HfA=G;MR$JG=9JAB

++ 7;JAGEP=;A:CH;M= ++(-$cG<P=;=;<=$P=A?9?B$P?C=DECOG;?I

P=A?9M$<JJC=9?B:;<O J>=DAG?JD?><<$>G<$<JJC=9?B:;<<$?Ls=DA?B

?Ls=DA?B$JE9=L;?I JE9=L;?I$WDJ>=GA<8M

WDJ>=GA<8M

&$"CO$>G?<8B?9JAB:$JE9=L;MR$WDJ>=GA<8$>G?9?B?CHJAB=;;MR$A?B:G?B$@?JE9:GJAB=;;M=

JE9=L;?VWDJ>=GA;M=$ETG=K9=;<O$9?CK;M$>G?IA<$:DDG=9<A:Q<f$J$Q=CHf$>?9AB=GK9=V

;<O$D?P>=A=;Q<<$;:$>G?B=9=;<=$<J>MA:;<I$><n=BMR$>G?9EDA?B$<$>G?9?B?CHJAB=;;?@?

JMGHO$B$[<JA=P=$ J=GA<N<D:Q<<$4X[u$S$<$ ,<C</$[<JA=P=$:DDG=9<A:Q<<$C:L?G:A?G<I

4?JE9:GJAB=;;?I$J:;<A:G;?VW><9=P<?C?@<T=JD?I$JCEKLM$S?JJ<IJD?I$F=9=G:Q<<(

MT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*FQ*5JOAKLVJBCLJ*IJCAWJXKEYLL*TA*TAKZAOADCJ*[ETIABE

MS

1$+/0

)*6

-#4

%/)#&

+,

,9?8;:;<O/$<C<$?>G=9=C=;<f$JE9:$C<;@B<JA<T=JD?I$WDJ>=GA<8M$D?;DV

G=A;?@?$J>?G;?@?$A=DJA:$[a73$C<L?$C<;@B<JA<T=JD?@?$<JJC=9?B:;<O

9:;;?@?$J>?G;?@?$A=DJA:$[a7$,;:$>C:A;?I$?J;?B=/$>?$?N<Q<:CH;?PE

9?@?B?GE$E>G:BC=;<O$S?JD?P;:98?G:$J$WDJ>=GA;?I$?G@:;<8:Q<=I(

u:D?I$ WDJ>G=JJV:;:C<8$ >G<8B:;$ ?D:8:AH$ C<rH$ <;N?GP:Q<?;;Ef

>?99=GKDE$J?AGE9;<D:P$S?JD?P;:98?G:$B$>G<;OA<<$G=r=;<O$?$9:CHV

;=Ir<R$9=IJAB<OR$>?$:;:C<8E$9:;;?@?$J>?G;?@?$A=DJA:$[a7$<$P=A?V

9<T=JDEf$>?P?nH$B$>=GB<T;?P$?>G=9=C=;<<$;:C<T<O�?AJEAJAB<O$B$A=DV

JA=$J>?G;?I$>=T:A;?I$>ELC<D:Q<<3$G:9<?>=G=9:T<3$A=C=>G?@G:PPM$<C<

<;A=G;=AVJ:IA:$,8:G=@<JAG<G?B:;;?@?$D:D$[a7/$?T=B<9;MR$B=GL:CHV

;MR$ ,JC?B=J;MR/$>G<8;:D?B$8C?E>?AG=LC=;<O$JB?L?9?I$P:JJ?B?I$<;V

N?GP:Q<<$,JA($&$p:D?;:$SF$dX$JG=9JAB:R$P:JJ?B?I$<;N?GP:Q<<e/($ZDV

J>G=JJV:;:C<8$;<$B$D?=I$P=G=$;=$P?K=A$JT<A:AHJO$8:P=;?I$>?C;?P:JrV

A:L;?@?$<JJC=9?B:;<O$J>=Q<:C<JA?BVC<;@B<JA?B(

&($"CO$?L=J>=T=;<O$9?C@?JG?T;MR$<$WNN=DA<B;MR$D?;A:DA?B$J?$J>=V

Q<:C<JA:P<VC<;@B<JA:P<$,WDJ>=GA:P</$B$B:r=P$G=@<?;=$Q=C=J??LG:8V

;?$8:DCfT<AH$J$;<P<$J>=Q<:CH;MI$9?@?B?G$?$J=G<<$;:ET;MR$D?;JECHV

A:Q<I$;:$>C:A;?I$?J;?B=$,JP($G:89=C$+(*$;:r=@?$<89:;<O/\$G:L?A:$ET=V

;?@?VC<;@B<JA:3$D:D$BJOD<I$AGE93$9?CK;:$LMAH$9?JA?I;?$<$?N<Q<:CHV

;?$?>C:T=;:($b$4<CH9<<$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP

<$<;N?GP:Q<?;;MP$J>?G:P3$G:L?A:fn=I$;:$?J;?B=$R?8G:JT=A:3$ BJ=

C<;@B<JA<T=JD<=$<JJC=9?B:;<O$<$BJ=$JE9=L;M=$C<;@B<JA<T=JD<=$WDJ>=GV

A<8M$ ,8:$;=D?A?GMP<$<JDCfT=;<OP</$OBCOfAJO$>C:A;MP<3$BM>?C;OV

fAJO$;:$9?@?B?G;?I$?J;?B=$<$A?CHD?$>?JC=$>G=9B:G<A=CH;?@?$WDJ>V

G=JJV:;:C<8:$P:A=G<:C?B(

6($cG=9B:G<A=CH;MI$WDJ>G=JJV:;:C<8$P:A=G<:C?B$4<CH9<<$C<;@B<V

JA?BVWDJ>=GA?B$ >?$ 9?DEP=;A:Q<?;;MP$ <$ <;N?GP:Q<?;;MP$ J>?G:P

>G?B?9<AJO$>G=<PEn=JAB=;;?$L=J>C:A;?(

1($XJ;?B:;<=P$9CO$WDJ>G=JJV:;:C<8:$?$B?8P?K;?JA<$<$Q=C=J??LG:8V

;?JA<$>G?B=9=;<O$>?$>?JA:;?BC=;<f$JC=9JAB<O$,9?8;:;<O/$<C<$?>G=V

9=C=;<f$JE9:$C<;@B<JA<T=JD?I$WDJ>=GA<8M$D?;DG=A;?@?$J>?G;?@?$A=DV

JA:$C<L?$C<;@B<JA<T=JD?@?$<JJC=9?B:;<O$JCEK:A$?N<Q<:CH;M=$8:>G?V

JM$>G:B??RG:;<A=CH;MR$?G@:;?B3$ JE9?B3$?G@:;?B$8:D?;?9:A=CH;?I$<

<J>?C;<A=CH;?I$ BC:JA<3$ :9B?D:A?B3$ G=9:DQ<I$ [a73$ ?Ln=JAB=;;MR

?G@:;<8:Q<I3$:$A:DK=$]$B$?A9=CH;MR$JCET:OR$]$N<8<T=JD<R$C<Q(

'($b$G:PD:R$P;?@?C=A;<R$>:GA;=GJD<R$?A;?r=;<I$J$S?JD?P;:98?V

G?P$,G:;==$]$J$S?J?RG:;DECHAEG?I/$4YZ"7[$>?JA?O;;?$?D:8MB:=A$WA?I

N=9=G:CH;?I$JCEKL=$WNN=DA<B;Ef3$DB:C<N<Q<G?B:;;Ef$<$?>=G:A<BV

;Ef$<;N?GP:Q<?;;Ef$>?99=GKDE3$G=@ECOG;?$>?CET:O$8:>G?JM$<$P:V

A=G<:CM$9CO$WDJ>G=JJV:;:C<8:$D:D$?A$Q=;AG:CH;?@?$:>>:G:A:$S?JD?PV

;:98?G:3$ A:D$ <$ =@?$ G=@<?;:CH;MR$ E>G:BC=;<I$ ,JP($ G:89=CM$ +(+$ ]$ +('

;:r=@?$<89:;<O/(

(DNEU6h"-FE>JAWFNBAF6?FB>CF@JDfAA6Z>6Z>JV>E>HBFN>E?aJ@AB>C6/>NB>C@DJ[>?D6[DZ?>NDNZFfADGANEDCbGA@VHANEDC>6Z?FJHD?AEFGU@>C6D@DGA[F6NZ>?@>V>6EFBNED

h"S"`+N@>H@\F6N>HFE\

-(lcG?D?;JECHA<GEIA=JH$>?$WC=DAG?;;?I$>?TA=$,mNmnompqrstuvmn,pw/

J$>G:BC=;<=P$4<CH9<<$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<

<;N?GP:Q<?;;MP$J>?G:P$?A;?J<A=CH;?$B?8P?K;?@?$BML?G:$WDJ>=GAV

;?I$?G@:;<8:Q<<$ ,@?JE9:GJAB=;;?I$<C<$;=@?JE9:GJAB=;;?I/$B$B:r=P

G=@<?;=$ <C<$ B$ LC<8C=K:n=P$ G=@<?;=$ ,;:>G<P=G3$ B$ >G=9=C:R$ B:r=@?

F=9=G:CH;?@?$?DGE@:/$9CO$;:>G:BC=;<O$WA?I$?G@:;<8:Q<<$8:>G?J:$?

>G=9B:G<A=CH;?P$:;:C<8=$D?;DG=A;?@?$J>?G;?@?$A=DJA:$[a7(

+($#$T<JCE$:DAE:CH;MR$<$B:K;MR$8:9:T$9=OA=CH;?JA<$B:r=@?$G=JV

>ELC<D:;JD?@?3$DG:=B?@?3$?LC:JA;?@?$E>G:BC=;<O$S?JD?P;:98?G:$JC=V

9E=A$?A;=JA<$8:9:TE$EJA:;?BC=;<O$<$>?99=GK:;<O$>?JA?O;;MR$D?;A:DV

A?B$J$DB:C<N<Q<G?B:;;MP<$WDJ>=GA:P<$,J>=Q<:C<JA:P<VC<;@B<JA:P</

B$B:r=P$G=@<?;=$,B$A?P$T<JC=$]$J$ETo;MP<VGEJ<JA:P<3$G:L?A:fn<P<$B

E;<B=GJ<A=A:R$<$<;MR$BE8:R$G=@<?;:/($b$Q=COR$:DA<B;?@?$<$9?C@?JG?TV

;?@?$ B8:<P?9=IJAB<O$ J$G=@<?;:CH;MP<$C<;@B<JA:P<VWDJ>=GA:P<$G=V

D?P=;9E=AJO$ G:8G:L?A:AH$ J?BP=JA;?$ J$ ;<P<$ J<JA=PE$ >?JA?O;;?@?$ <

WNN=DA<B;?@?$>:GA;oGJAB:$T=G=8$>G?B=9=;<=$J?BP=JA;MR$J=P<;:G?B3

D?;N=G=;Q<I3$DGE@CMR$JA?C?B3$G?C=BMR$<@G3$P?;<A?G<;@:$;?B?I$P=V

A?9<T=JD?I$<$J>G:B?T;?I$C<A=G:AEGM($ZA?$A:DK=$>?8B?C<A$B:P$L?C==

G=8ECHA:A<B;?$8:;<P:AHJO$J:P??LG:8?B:;<=P3$>?BMr=;<=P$JB?=I$>G?V

N=JJ<?;:CH;?I$DB:C<N<D:Q<<(

%($XJ;?B;?I$Q=CHf$>G=9B:G<A=CH;?@?$WDJ>G=JJV:;:C<8:$ J>?G;?@?

A=DJA:$[a7$J>=Q<:C<JA:P<VC<;@B<JA:P<$ ,;=$OBCOfn=@?JO$JE9=L;?I

C<;@B<JA<T=JD?I$WDJ>=GA<8?I/$OBCO=AJO$G=r=;<=$B?>G?J:$?$B?8P?KV

;?JA<$ <$ Q=C=J??LG:8;?JA<$ >G?B=9=;<O$ >?$ >?JA:;?BC=;<f$ JC=9JAB<O

Mh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*FQ*5JOAKLVJBCLJ*IJCAWJXKEYLL*TA*TAKZAOADCJ*[ETIABE

MI

1$+/0

)*6

-#4

%/)#&

+,

?G@:;:$ab"$<C<$>G?DEG:AEGM/$<C<$?N<Q<:CH;?@?$C<Q:$,;:>G<P=G3

9=>EA:A:$?G@:;:$>G=9JA:B<A=CH;?I$BC:JA</3$B$D?A?G?P$J?9=GK:C<JH

<8;:T:CH;M=$>G=A=;8<<$D$>ELC<D:Q<<$B$[a73$>?LE9<Br<=$E>G:BV

C=;<=$S?JD?P;:98?G:$?LG:A<AHJO$J$8:>G?J?P$B$4YZ"7[$?$>G?B=V

9=;<<$;=?LR?9<P?@?$WDJ>G=JJV:;:C<8:$,JP($BMr=$]$>($_/($#?><O$9:V

;?@?$9?DEP=;A:$A:DK=$>G=9JA:BCO=AJO$B$?Ln=P$>:D=A=$B$N?GP:A=

y|�$$<C<$�y�$,>G<$$WA?P$N?GP:A$y|�$L?C==$>G=9>?TA<A=C=;/(

"/$X9;?BG=P=;;?$J$?A>G:BD?I$ED:8:;;MR$BMr=$P:A=G<:C?B$>?

WC=DAG?;;?I$>?TA=$>?C;MI$>:D=A$P:A=G<:C?B$8:>G?J:$;:$LEP:K;MR

;?J<A=COR$,?G<@<;:C$8:>G?J:$GED?B?9<A=CO$E>G:BC=;<O$S?JD?P;:9V

8?G:3$J>?G;MI$A=DJA$[a7$<$9G(/$;:>G:BCOfAJO$B$WDJ>=GA;Ef$?G@:V

;<8:Q<f$,B$T:JA;?JA<3$B$SXX$4YZ"7[/$>?TA?BMP$?A>G:BC=;<=P$J

EB=9?PC=;<=P$?$BGET=;<<$,:9G=J$SXX$4YZ"7[$9CO$>?TA?B?I$>=G=V

><JD<\$-+)-1&3$a?JDB:3$:�O$--23$>G?N($a(b(4?GL:;=BJD?PE/(

[C=9E=A$<P=AH$B$B<9E3$TA?$BJ=$D?><<$P:A=G<:C?B$;:$LEP:K;MR$<

WC=DAG?;;MR$;?J<A=COR3$>?JAE><Br<=$9CO$WDJ>G=JJV:;:C<8:$>?$?LMTV

;?I$>?TA=$ ,<C<$ DEGH=GJD?I$ JCEKL?I3$ =JC<$ G=TH$ <9=A$ ?$ Q=;AG:CH;?P

:>>:G:A=$S?JD?P;:98?G:/$>?9C=K:A$8:A=P$EA<C<8:Q<<$<$8:OB<A=Cf$;=

B?8BG:n:fAJO(

-2($ t=G=8$ ']*$ 9;=I$ 8:OB<A=CH$ >?CET:=A$ ?A$ J=DG=A:G<:A:$ @<CH9<<

DG:AD<I$?AB=A$?$G=8ECHA:A:R$>G=9B:G<A=CH;?@?$WDJ>G=JJV:;:C<8:$]$>?

:9G=JE$ WC=DAG?;;?I$ >?TAM3$ ED:8:;;?I$ B$ =@?$ 8:>G?J=($ cG<$ ?A>G:BD=

WC=DAG?;;MR$><J=P$B$SXX$4YZ"7[$JC=9E=A$>G?OBCOAH$>?BMr=;;?=

B;<P:;<=$D$<R$D?P>HfA=G;MP$G=DB<8<A:P3$<L?$:;?;<P;M=$8:>G?JM$<

?LG:n=;<O$J=DG=A:G<:A?P$@<CH9<<$;=$G:JJP:AG<B:fAJO(

--($4YZ"7[$A:DK=$?JEn=JABCO=A$JK:AM=$>?$BG=P=;<$,B$J<CE$>?JA?V

O;;?$BMJ?D?I$JA=>=;<$>C?A;?JA<$==$G:L?T=@?$@G:N<D:/$D?;A:DAM$J$G=@<V

?;:CH;MP<$E>G:BC=;<OP<$S?JD?P;:98?G:$>?$A=C=N?;E$,?J;?B;?I$;?P=G

9CO$?>=G:A<B;?I$JBO8<$J$J=DG=A:G<:A?P$@<CH9<<\$�$'l)2%l'1)$'-$')/($cG<

WA?P$JC=9E=A$<P=AH$B$B<9E3$TA?$4YZ"7[$;=$9:=A$>?$A=C=N?;E$;<$G:8B=GV

;EAMR$D?;JECHA:Q<I3$;<$>G=9B:G<A=CH;MR$?Q=;?D$A=DJA:$,d;:$JCERe/($X9V

;:D?$>G:BC=;<=$<$J=DG=A:G<:A$@<CH9<<$B$GO9=$JCET:=B$EJ>=r;?$?D:8MB:V

fA$8:OB<A=COP$$9=IJAB=;;Ef$<;N?GP:Q<?;;Ef$>?99=GKDE$>?$>?B?9E$B?8V

P?K;?JA<$?LG:n=;<O$D$TC=;:P$4YZ"7[$B$GO9=$G=@<?;?B$S?JJ<<$<C<

?LG:n=;<O$B$<;M=$>G?N<CH;M=$WDJ>=GA;M=$ETG=K9=;<O$S?JJ<<(

-+($b$R?9=$>?9@?A?BD<$>:D=A:$P:A=G<:C?B$9CO$WDJ>G=JJV:;:C<8:$B

4<CH9<<$;=$ JC=9E=A$?G<=;A<G?B:AHJO$;:$9:;;Ef$N?GPE$G:L?AM3$D:D

N<CHAG3$D?A?GMI$>?JA?O;;?$LE9=A$NE;DQ<?;<G?B:AH$B$G?C<$9?>?C;<V

A=CH;?@?$<$L=J>C:A;?@?$8B=;:$S?JD?P;:98?G:3$J;<P:fn=@?$J$J?AGE9V

;<D?B$=@?$?A9=CH;MR$>?9G:89=C=;<I$C<L?$;=?LR?9<P?JAH$>G<;<P:AH

J:P?JA?OA=CH;M=$>G?N=JJ<?;:CH;M=$G=r=;<O3$C<L?$T:JAH$?AB=AJAB=;V

;?JA<$8:$<J>?C;=;<=$9?CK;?JA;MR$NE;DQ<I\$A:D?I$>?9R?9$LE9=A$?r<V

L?T;MP($4<CH9<O$OBCO=AJO$;:9=K;MP3$WNN=DA<B;MP$<$BMJ?D?>G?N=JV

*($p:>G?JM$ J=DG=A:G<:A$ 4YZ"7[$ >G<;<P:=A$ A?CHD?$ >?$ WC=DAV

G?;;?I$>?TA=$B$B<9=$N:IC?B$B$N?GP:A=$�wx|$,<CCfJAG:A<B;MI$P:V

A=G<:C$]$A?CHD?$B$N?GP:A=$y|�$<C<$ �y�3$>G<$ $ WA?P$N?GP:A$y|�$L?C==

>G=9>?TA<A=C=;/$;:$;:r$?J;?B;?I$:9G=J$WC=DAG?;;?I$>?TAM$4YZ"7[\

}V}�y}x�� ��|}�(xz

)($[A:;9:GA;MI$>:D=A$P:A=G<:C?B3$;:>G:BCO=PMR$>?$}V���~$9CO$WDV

J>G=JJV:;:C<8:$B$4YZ"7[$<8$G=@<?;:CH;?@?$E>G:BC=;<O$S?JD?P;:9V

8?G:3$9?CK=;$BDCfT:AH$B$J=LO\

_/$XN<Q<:CH;MI$8:>G?J$GED?B?9<A=CO$G=@<?;:CH;?@?$E>G:BC=V

;<O$S?JD?P;:98?G:$<C<$=@?$8:P=JA<A=CO$,;:$LC:;D=$E>G:BC=;<O3$J

<JR?9On<P$ ;?P=G?P$ 9?DEP=;A:/$ ;:$ <PO$ >G=9J=9:A=CO$ >G:BC=;<O

SXX$4YZ"7[$>G?N($a(b(4?GL:;=BJD?@?$,>G<P=G$G=:CH;?@?$8:>V

G?J:$JP($B$G:89=C=$+(%/($S:8EP==AJO3$A=DJA$8:>G?J:$LE9=A$R:G:DA=G<V

8?B:AH$?J?L=;;?JA<$D?;DG=A;?I$J<AE:Q<<$<$D?;DG=A;?@?$J>?G;?@?

A=DJA:$[a73$?9;:D?$?J;?B;:O$=@?$Q=CH$J?JA?<A3$D:D$LMC?$JD:8:;?

BMr=3$B$>?CET=;<<$DB:C<N<Q<G?B:;;?I$<$?>=G:A<B;?I$<;N?GP:V

Q<?;;?I$>?99=GKD<$J?$JA?G?;M$WDJ>=GA;?I$?G@:;<8:Q<<$B$B?>G?V

J=$?>G=9=C=;<O$B?8P?K;?JA<$<$Q=C=J??LG:8;?JA<$>G?B=9=;<O$>?CV

;?P:Jr:A:L;?I$?N<Q<:CH;?I$$C<;@B<JA<T=JD?I$WDJ>=GA<8M$$,C<;V

@B<JA<T=JD?@?$<JJC=9?B:;<O/$9:;;?@?$J>?G;?@?$A=DJA:$[a7($b$A=DV

JA=$8:>G?J:$9?CK;:$>G<JEAJAB?B:AH$<;N?GP:Q<O$E>G:BC=;<O$S?JV

D?P;:98?G:$ ?$ A?P$ D?;DG=A;?P$ B<9=$ 8C?E>?AG=LC=;<O$ JB?L?9?I

P:JJ?B?I$<;N?GP:Q<<$,>?$JA($&$p:D?;:$SF$dX$JG=9JAB:R$P:JJ?B?I

<;N?GP:Q<<e/3$ D?A?G?=$>G=9>?C?K<A=CH;?$P?K=A$ J?9=GK:AHJO$B

J>?G;?P$A=DJA=($�JC<$K=$A:D?=$>G=9>?C?K=;<=$J9=C:;?$;=$J?AGE9V

;<D:P<$S?JD?P;:98?G:3$:$<;MP$B=9?PJAB?P$,;:>G<P=G3$?G@:;:P<

ab"$ <C<$ >G?DEG:AEGM/3$ A?$ B$ A=DJA=$ 8:>G?J:$ 9=C:=AJO$ JJMCD:$ ;:

?N<Q<:CH;MI$9?DEP=;A$ ,?LG:n=;<=/3$>?JAE><Br<I$B$E>G:BC=;<=

S?JD?P;:98?G:$?A$9:;;?@?$B=9?PJAB:$<C<$?N<Q<:CH;?@?$C<Q:$,;:V

>G<P=G3$9=>EA:A:$?G@:;:$>G=9JA:B<A=CH;?I$BC:JA</(

0/$c?C;MI$A=DJA$,;=$<8BC=T=;<O�/$J>?G;?I$>=T:A;?I$>ELC<D:Q<<3

G:9<?>=G=9:T<3$A=C=>G?@G:PPM$<C<$<;A=G;=AVJ:IA:$ ,8:G=@<JAG<G?V

B:;;?@?$D:D$[a7/$B$N?GP:A=$�wx|$ ,9CO$G:9<?>=G=9:T$<$A=C=>G?@V

G:PP$A:D?BMP$A=DJA?P$OBCO=AJO$>?C;MI$A=DJA$G:Jr<NG?BD<$>=G=9:V

T<3$>G?@G:PPM$B$N?GP:A=$�wx|/($b$D?;Q=$A=DJA:$B$?LO8:A=CH;?P$>?V

GO9D=$9?CK;M$LMAH$ED:8:;M\$A?T;?=$;:8B:;<=$[a73$@?93$9:A:$?>ELV

C<D?B:;<O3$GELG<D:$,9CO$P:A=G<:C?B$ub$<$G:9<?$9?CK;?$LMAH$ED:8:V

;?$A:DK=$A?T;?=$BG=PO$BMR?9:$B$WN<G$9:;;?I$>G?@G:PPM3$>=G=9:T</(

b/$XAJD:;<G?B:;;:O$>?C;:O$D?><OV<CCfJAG:Q<O$J>?G;?I$>=T:AV

;?I$>ELC<D:Q<<$,A?CHD?$9CO$@:8=A$<$KEG;:C?B/$B$N?GP:A=$y|�$$<C<

�y�$,>G<$WA?P$N?GP:A$y|�$L?C==$>G=9>?TA<A=C=;/(

4/$XAJD:;<G?B:;;:O$>?C;:O$D?><OV<CCfJAG:Q<O$?LG:n=;<O$,9?V

DEP=;A:/$B$E>G:BC=;<=$S?JD?P;:98?G:$A?@?$B=9?PJAB:$,;:>G<P=G3

ML

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*FQ*5JOAKLVJBCLJ*IJCAWJXKEYLL*TA*TAKZAOADCJ*[ETIABE

MM

1$+/0

)*6

-#4

%/)#&

+,

h"h"`8?ACF?^6NZ>?@DX6Za=GABDfAX\

e8/#,)4%&'61&#$;26)6&l*#,;2"""g

$LCG[0/523 2/D581/FA3 2/8D>?C@>=>3 C>?25CD7>=>3 YF57G2/3 \&3 1

\&)&3&O)R

$ZA<$DGMC:AM=$JC?B:3$>?TA<$9B:$B=D:$;:8:9$:9G=J?B:;;M=$B=C<D<P

>?WA?P$J:P?9=GKQE$G?JJ<IJD?PE3$d;=T:O;;?$>G<@G=A?PE$JC:B?Ie3$E9<V

B<A=CH;MP$?LG:8?P$?AG:K:fA$JEn;?JAH$;:r=@?$;M;=r;=@?$A:D$;:V

8MB:=P?@?$dC<9=G:$;:Q<<e3$:$B=G;==3$>G=9B?9<A=CO$>?JAJ?B=AJD?I$:;V

A<D?PPE;<JA<T=JD?I$ WC<AM($ cG:B9:3$ ;:r=@?$ @=G?O$ ;<$ d>C=r<BMP

n=@?C=Pe3$;<$A=P$L?C==$dBG:@?P$AGE9:e$;=$;:8?B=rH3$L?CHr=$A?@?3$?;

J$>:N?J?P$8:OBCO=A3$TA?$d>:r=A$D:D$G:L$;:$@:C=G:Re3$=9B:$EJ>=B:O$P=V

;OAH$PE;9<GM$C=AT<D:3$>?9B?9;<D:3$G:L?AO@$G:8;MR$>G?N=JJ<I(((

[?@C:J<PJO$J$WA<P$=@?$EAB=GK9=;<=P3$;?$>G<$WA?P$;=>G=P=;;?$LEV

9=P$<P=AH$B$B<9E3$TA?$G:L$BJ=@9:$OBCO=AJO$>?9;=B?CH;MP$J?LJAB=;;<V

D?P$R?8O<;:VG:L?BC:9=CHQ:($XAJf9:$B?8;<D:fA$B?>G?JM($t=I$G:L�$U:

D?@?$WA?A$;=JT:JA;MI$;=B?CH;<D$d>:r=Ae�$#?PE$WA<$@:C=GMVORAM$>G<V

;:9C=K:A�$#:D<P<$,K=C=8;MP<$<C<$8?C?AMP</$Q=>OP<$>G<D?B:;$D$B=JV

C:P�$#:D?@?$dB?8;:@G:K9=;<Oe$8:JCEK<B:=A$>:R:GHV>G:B<A=CH$8:$B=JH

A?A$?@G?P;=Ir<I$En=GL3$D?A?GMI$?;$;:;=J$JAG:;=$<$;:G?9E�

U:$BJ=$WA<$B?>G?JM$EL=9<A=CH;M=$?AB=AM$9:C$P:GA?BJD<I$>C=;EP

�#$<$�#S#$#cSF$B$D?GG=DA;?I3$;?$AB=G9?I$N?GP=(

U:$WA?P$>C=;EP=$?LJEK9:CJO$A:DK=$B?>G?J$?$>G<;Q<>:R$J?AGE9;<V

T=JAB:$J$BG=P=;;MP<$J?f8;<D:P<($b$WA?I$JBO8<$O$R?TE$?LG:A<AH$B;<P:V

;<=$T<A:A=C=I$WA<R$P?<R$G:8PMrC=;<I$;:$;=?LR?9<P?JAH$<J>?CH8?B:AH

:;:C<A<T=JD<I$P:A=G<:C$<$>G:DA<T=JD<=$9=IJAB<O$9:K=$A:D<R$>G:BMR

C<L=G:C?B3$D:D$`(Y($Y:AM;<;:3$D?A?G:O3$;=$JA=J;OOJH$B$BMG:K=;<OR3$B

D?;Q=$+22'$A($B$JB?=I$>G?@G:PP=$d#?9$9?JAE>:e$;:$G:9<?JA:;Q<<$dZR?

a?JDBMe$G:JJEK9:C:$;:$A=PE3$D:D$dELCf9?T;:O$WC<A:$ELCf9<8<GE=A

JAG:;Ee($cG<$WA?P$?;:$BB=C:$B$G=T=B?I$?L?G?A$:DAE:CH;M=$?Ln=JAB?V

B=9T=JD<=$>?;OA<O\$dJAG:;:VELCf9?De$<$dELCf9?T;:O$WC<A:e(

U:$>G<P=G:R$[:E9?BJD?I$_G:B<<$<$>?JAJ?B=AJD?I$S?JJ<<$?;:$EL=V

9<A=CH;?$>?D:8:C:3$D:D$dWC<A:e$WA<R$JAG:;3$@G:LO$<$?ALG:JMB:O$JB?<

;:G?9M$B$ JG=9;=B=D?BH=3$dB=J=C<AJOe$<$dr:C<Ae$B$ 8:GEL=K;MR$JAG:V

;:R3$ A:P$ K=$ >G<?LG=A:O$ J=L=$ JB=GRJ?BG=P=;;M=$ B<CCM$ <$ JA:G<;;M=

8:PD<3$?LET:O3$?89?G?BCOO$<$AGE9?EJAG:<B:O$JB?<R$9?P?T:9Q=B3$JAG?O

;:9B?9;M=3$>?9B?9;M=$<$B?89Er;M=$NC?A<C<<(((

J<?;:CH;MP$>:GA;=G?P$S?JD?P;:98?G:3$;?$;=$=@?$T:JAHf$,J><J?D$?JV

;?B;MR$>:GA;=G?B$SXX$4YZ"7[$JP($B$G:89=C=$--(%$;:r=@?$<89:;<O/(

-%($X9;<P$<8$>=GBMR$r:@?B$J?AGE9;<D:$S?JD?P;:98?G:3$@?A?BOn=V

@?$8:>G?J$B$4<CH9<f$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<

<;N?GP:Q<?;;MP$J>?G:P$?L$WDJ>G=JJV:;:C<8=$J>?G;?@?$A=DJA:$[a73

9?CK;?$ A:DK=$ JA:AH$ >?J=n=;<=$ B=LVJ:IA$ 4YZ"7[$ B$ J=A<$ 7;A=G;=A

���(xz{}�y}x�(xz\$B$Q=C?P$GO9=$G:89=C?B$WA?@?$J?9=GK:A=CH;?@?$J:IV

A:3$B$>G<B=9=;;MR$;:$;=P$D?;DG=A;MR$>G<P=G:R$A=DJA?B$<JJC=9?B:;<I

<$WDJ>=GA;MR$8:DCfT=;<I$,<C<$8:DCfT=;<I$J>=Q<:C<JA?B/3$B$JA:AHOR$<

D?PP=;A:G<OR$C<;@B<JA?B3$:$A:DK=$B$WC=DAG?;;MR$B=GJ<OR$>G=9JA:BV

C=;;MR$;:$9:;;?P$J:IA=$;=JD?CHD<R$D;<@$4YZ"7[$J?AGE9;<D$S?JV

D?P;:98?G:$,D:D$<$CfL?I$9GE@?I$>?J=A<A=CH$WA?@?$J:IA:/$>G<$;:9C=V

K:n=P$K=C:;<<$9?JA:A?T;?$LMJAG?$JP?K=A$;:IA<$?AB=AM$;:$P;?@<=

<;A=G=JEfn<=$=@?$B?>G?JM(

-&($ cG<$ G:L?A=$ ;:9$ A=DJA?P$ 8:>G?J:$ B$ WDJ>=GA;Ef$ ?G@:;<8:Q<f

J?AGE9;<D$E>G:BC=;<O$S?JD?P;:98?G:$9?CK=;$?T=;H$T=AD?$>?;<P:AH3

TA?$P;?@<=$B:K;M=$<$<;A=G=JEfn<=$=@?$B?>G?JM3$D:J:fn<=JO$D?;DV

G=A;?@?$J>?G;?@?$A=DJA:$[a73$P?@EA$BMR?9<AH$8:$@G:;<QM$D?P>=A=;V

Q<<$WDJ>=GA:VC<;@B<JA:$<$P?@EA$LMAH$ JBO8:;;MP<$<JDCfT<A=CH;?$J

>G:B?B?I$ DB:C<N<D:Q<=I$ D?;NC<DA:$ ,;:>G<P=G3$ J$ EJA:;?BC=;<=P

EPMJC:$;:$J?B=Gr=;<=$?>G=9=C=;;MR$9=IJAB<I$<C<$J:P?@?$N:DA:$J?V

B=Gr=;<O$>G:B?;:GEr=;<O$<$A(9($]$ $>?9G?L;==$?L$WA?P$JP($B$G:89=C=

%(-$;:r=@?$<89:;<O/($b?>G?JM$,J$WA?I$A?TD<$8G=;<O$;=D?GG=DA;?$>?V

JA:BC=;;M=$J>=Q<:C<JA:PVC<;@B<JA:P$WDJ>=GA:P/$<$BMB?9On<=$ET=;MR

8:$@G:;<QM$<R$D?P>=A=;Q<<3$>G<B=9EA$D$?LG=P=;<A=CH;?I$9CO$WDJ>=GV

A;?I$?G@:;<8:Q<<$AG:A=$BG=P=;<$;:$L=J>?C=8;MI$?AB=A$<$>G?9=P?;JAV

G<GEfA$;=9?JA:A?T;MI$EG?B=;H$DB:C<N<D:Q<<$<C<$?AB=AJAB=;;?JA<

J?AGE9;<D:3$ @?A?B<Br=@?$8:>G?J(6

6$ U:@CO9;MP$ >G<P=G?P$ P?@EA$ JCEK<AH$ B?>G?JM3$ >?JA:BC=;;M=$ WDJ>=GA:P$ 4YZ"7[

?9;<P$<8$G=J>ELC<D:;JD<R$E>G:BC=;<I$S?JD?P;:98?G:$$B$J=;AOLG=$+22)$@($B$JBO8<$J$?>ELV

C<D?B:;;?I$B$G:I?;;?I$@:8=A=$WA?I$G=J>ELC<D<$8:P=AD<$dcGO;:O$?AG:B:e($p:P=AD:$LMC:

?>ELC<D?B:;:$B$GELG<D=$dU=A$]$;:GD?A<D:P�e^$=o$A=P?I$JA:C<$A(;($DEG<A=CH;M=$JP=JOP3

>?$ EAB=GK9=;<f$ JA($ ?>=GE>?C;?P?T=;;?@?$ P=KG:I?;;?@?$ ?A9=C=;<O$ ;:GD?D?;AG?CO

#($,A:DK=$>G<B=9=;;?PE$B$9:;;?I$8:P=AD=/3$BDCfT:fn<P$B$JB?I$J?JA:B$B=n=JAB:3$?LC:V

9:fr<=$ >J<R?AG?>;MP$ <$ ;:GD?C?@<T=JD<P$ 9=IJAB<=P($ b$ ?N<Q<:CH;?P$ 8:>G?J=$ B

4YZ"7[3$>?9@?A?BC=;;?P$J?AGE9;<Q=I$4($<$>?9><J:;;?P$8:P($GED?B?9<A=CO$G=J>ELV

C<D:;JD?@?$E>G:BC=;<O$S?JD?P;:98?G:$S(3$;=D?GG=DA;?$JN?GPEC<G?B:;;MP<$OBCOC<JH

BJ=$AG<$:9G=J?B:;;M=$J>=Q<:C<JA:PVC<;@B<JA:P$B?>G?J:\$dU=$OBCO=AJO$C<$9:;;MI$A=DJA

J?BP=JA;?$ J$<8?LG:K=;<=P$DEG<A=CH;MR$JP=J=I$>G?>:@:;9?I$9:;;MR$B=n=JAB�e^$ dU=

8:R?AOA$C<$P?C?9M=$Cf9<3$>?JC=$>G?TA=;<<$9:;;?I$<;N?GP:Q<<3$<J>?CH8?B:AH$JP=JH

AG:B3$<8?LG:K=;;MR$;:$N?A?�e^$dU=$OBCO=AJO$C<$;:GEr=;<=P$BMr=ED:8:;;?@?$8:D?;:

,CD"3]3^/@>7/3)R3_$3C850CD?/P32/CC>?>B3176>82/Q11`3a3M"*"S3'"("S3#"K"b3J??Ln=;<=$?

A?P3$TA?$<8$r:CN=O$>G=9JD:8:A=C=I$P?K;?$<8@?A:BC<B:AH$J<CH;MI$>J<R?:DA<B;MI$@:CV

CfQ<;?@=;�e($bJ=$WA<$B?>G?JM$J$?T=B<9;?JAHf$BMR?9OA$8:$@G:;<QM$>G?N=JJ<?;:CH;?I

D?P>=A=;Q<<$J>=Q<:C<JA?BVC<;@B<JA?B�

1$[A:AHO$dcG:B<A=CH$JC:LMI$<$CED:BMIe$LMC:$?>ELC<D?B:;:$B$@:8=A=$dS?9<;:e$+%$:>G=V

CO$+22)$@?9:$,q$-'�'1+/(

MO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*FQ*5JOAKLVJBCLJ*IJCAWJXKEYLL*TA*TAKZAOADCJ*[ETIABE

MP

1$+/0

)*6

-#4

%/)#&

+,

cG?r=9r<=$B$JAG:;=$-(2%(2)$@($BML?GM$>?CET<C<$?Q=;DE$?Ls=DA<BV

;MR$;:LCf9:A=C=I$D:D$J:PM=$@GO8;M=3$J:PM=$:P?G:CH;M=$<$>G?A<B?V

>G:B;M=$<8$BJ=R$BML?G?B3$D?A?GM=$LMC<$B$>?JAJ?B=AJD?I$S?JJ<<($[E9O

>?$A?PE3$J$D:D?I$:@G=JJ<B;?JAHf3$>?9?L;?$L=r=;MP$R<n;<D:P3$WC<V

A:G<<VELCf9D<$>G?B=C<$WAE$D:P>:;<f3$:$G:;Hr=$D:P>:;<f$>?$BML?V

G:P$8:D?;?9:A=C=I$<$@C:BM$@?JE9:GJAB:3$9:$<$>?$;M;=r;=I$D:P>:;<<

BML?G?B$PWG:$[?T<3$G=K<P$;=$?JA:;?B<AJO$;<$>=G=9$D:D<P$>G=JAE>C=V

;<=P3$TA?LM$E9=GK:AH$BC:JAH($cG<$WA?P$>G?B=G=;;MI$P=A?9$ELCf9<V

8:Q<<V>EA<;<8:Q<<$BJ=I$JAG:;M$D:D$>G?Q=JJ$:@G=JJ<B;?@?$;:J:K9=;<O

DECHA:$C<T;?JA<$<JA?G<T=JD<$;=J?JA?OA=CH;?@?$>?C<A<T=JD?@?$9=OA=V

CO$LE9=A$J?RG:;OAHJO$>?$JEA<3$>=G=R?9O$B$N?GPE$P=9B=9<8:Q<<$JAG:V

;M($_$>EA<;<8P$D:D$J?Q<:CH;?$?>:J;?=$OBC=;<=3$JEAH$D?A?G?@?$8:DCfV

T:=AJO$B$A?P3$TA?$>?9$B=GL:CH;MP$>G<DGMA<=P$;:G?9;?@?$8:JAE>;<V

T=JAB:$>G:BOn<I$G=K<P$>G?B?9<A$>?C<A<DE$>?@ELC=;<O$JB?=@?$;:G?V

9:3$ LE9=A$ >C:B;?$ 8:P=;OAHJO$ ,=JC<$ ;:G?9$ ;=$ JD:K=A$ G=r<A=CH;?\

d[uXc�e/$JB?=I$;?B?I3$=n=$L?C==$Q<;<T;?I$<$P:JrA:L;?I$G:8;?B<9V

;?JAHf$]$P=9B=9<8P?P(

c?C:@:f3$TA?$B$WA<R$EJC?B<OR$BJ=P$;:P3$>:JJ<?;:G<OPV>G:B9?L?GV

Q:P$<$>G?JB=A<A=COPV>:AG<?A:P$;=?LR?9<P?$?LG:A<AH$?J?L?=$B;<P:V

;<=$ ;:$ ?Ln=JAB?B=9T=JD?=$ ,:$ ;=$ A?CHD?$ >?C<A<T=JD?=/$ >G?JB=n=;<=

BJ=R$JC?=B$;:J=C=;<O$JAG:;M(

Yf9<�$0E9HA=$L9<A=CH;M$<$?AB=AJAB=;;M�

!1@>F/B3c\,!&$S3@>22G71CD3C39:;;3="S

?5D58/73%5F1@>B3$D5E5CD?577>B3?>B7A"

-/7@DNO5D58LG8="

U=$G:J>?C:@:f$<;N?GP:Q<=I3$;:JD?CHD?$ELCf9?T;:$:G:LJD:O$WC<A:

<$D:D<R$dEJ>=R?Be$?;:$9?L<C:JH$B$ELCf9<8:Q<<$JB?=I$JAG:;M3$:$B?A$TA?

D:J:=AJO$==$G?JJ<IJD<R$J?LG:AH=B3$A?$dA?PE$PM$AHPE$>G<P=G?B$JCMr<Pe(

U?$J;:T:C:$9:B:IA=$?>G=9=C<PJO$J$A=GP<;:P<($!LCf9D:P<$JT<A:V

fA$Cf9=IVBMG?9D?B$J$;<8P=;;MP<3$K<B?A;MP<$<;JA<;DA:P<($4C:BV

;MP$>G<8;:D?P$ELCf9D:$CfL?I$;:Q<?;:CH;?JA<3$CfL?@?$P<G?B?88G=V

;<O3$CfL?@?$J?Q<:CH;?@?$JA:AEJ:$OBCO=AJO$EAG:A:$<P$?J;?B;?I$T=C?V

B=T=JD?I$JEn;?JA<$]$T=C?B=D?CfL<O$<$>G<?LG=A=;<=$<P$:;A<T=C?B=V

T=JD?I$JEn;?JA<$]$>G=BG:n=;<O$B$J?Q<:CH;?@?$>:G:8<A:3$B$PET<A=CO

<$>?@EL<A=CO$Cf9=I($c?;OA<=$dELCf9<8:Q<Oe$B$ JB?=I$D;<@=$dXLn=V

JAB?B=9T=JD<I$JC?B:GHe$O$9:f$B$A:D?I$G=9:DQ<<\$d!LCf9<8:Q<O$]$>G?V

Q=JJ$>G=BG:n=;<O$Cf9=I$B$ELCf9D?B^$A?$K=3$TA?$L=JA<:C<8:Q<O3$:;AV

G?>?C?@<T=JD:O$D:A:JAG?N:e(

7JR?9O$<8$WA<R$?>G=9=C=;<I3$PM$EB<9<P$Q=CMI$J?;P$ELCf9D?B$B

9C<;;MR$J><JD:R$LfG?DG:A?B3$?C<@:GR?B$<$L:;9<A?B$,J$<R$P;?@?T<JV

C=;;?I$d<;A=CC=DAE:CH;?Ie$?LJCE@?I/($#:D$?AP=T:C$4(_($pf@:;?B3$WA?A

BC:JA;MI$dJ?f8$AG=Re$8:RB:A<C$BC:JAH$<$G=JA:BG<G?B:C$9<D<I$D:><A:V

C<8P$B$>?JAJ?B=AJD?I$S?JJ<<$B$R?9=$AG=R$D?;AGG=B?CfQ<I(

-))+]-))6$@?9M\$DG<P<;:CH;:O$D?;AGG=B?CfQ<O$>?C<A<T=JD<R$GB:V

T=I3$B$D?A?G?I$?G@:;<8?B:;;:O$>G=JAE>;?JAH$JAG=P<C:JH$8:RB:A<AH$BJf

J?LJAB=;;?JAH$<$BC:JAH$B$JAG:;=(

-))1]-)))$@?9M^$?C<@:GR<T=JD:O$D?;AGG=B?CfQ<O3$B$R?9=$D?A?G?I

?C<@:GR<$ J$ >?P?nHf$ LfG?DG:A?B$ dWDJ>G?>G<<G?B:C<e$ E$ L:;9<A?B

;:<L?C==$9?R?9;M=$?AG:JC<$LMBr=I$;:G?9;?I$J?LJAB=;;?JA<$<$JA:C<

>G=A=;9?B:AH$;:$BC:JAH$B$JAG:;=(

[$ +222$ @?9:\$ LfG?DG:A<T=JD:O$ D?;AGG=B?CfQ<O3$ B$ R?9=$ D?A?G?I

@G:K9:;JD<=$<$J<C?BM=$T<;?B;<D<$>?9POC<$>?9$J=LO$<$DG<P<;:C<A=A3

<$?C<@:GR:A3$?LC?K<B$<R$?@G?P;?I$9:;Hf($XJ;?B;MP$J?9=GK:;<=P

>?C<A<D<$BC:JA;?@?$dJ?f8:$AG=Re$OBCO=AJO$;=>G=DG:n:fn:OJO$?K=JV

A?T=;;:O$L?GHL:$8:$G:89=C$<$>=G=9=C$J?LJAB=;;?JA<$<$BC:JA<$,d[?B=AV

JD:O$S?JJ<Oe3$+6(2)(2'/(

_$G=8ECHA:A?P$WA?I$>?C<A<D<$ELCf9?T;?I$WC<AM$OBCO=AJO$ELCfV

9<8:Q<O$?J;?B;MR$JN=G$?Ln=JAB=;;?I$K<8;<$ ,WD?;?P<T=JD?I3$ J?Q<V

:CH;?I3$>?C<A<T=JD?I3$9ER?B;?I3$B?=;;?I/($[=IT:J$G=K<P$?J?L?=$B;<V

P:;<=$E9=CO=A$ELCf9<8:Q<<$Cf9=I$AGE9:3$9=IJABEO$dD;EA?P$<$>GO;<V

D?Pe$<8L<G:A=CH;?$>?$?A;?r=;<f$D$G:8C<T;MP$B?8G:JA;MP$<$J?Q<V

:CH;MP$@GE>>:P$Cf9=I($73$D$L?CHr?PE$J?K:C=;<f3$;:9?$>G<8;:AH3

TA?$9?L<B:=AJO$D?C?JJ:CH;MR$EJ>=R?B($X9;<$;?B?OBC=;;M=$ELCf9D<V

8:>EA<;QM$<$8:P=9B=9=BQM$>?fA$?J:;;E$JB?<P$E@;=A:A=COP$<$J??GEV

K:fA$<P$>:POA;<D<3$9GE@<=$KECH;<T:fA$;:$BML?G:R$<$B$JE9:R3$:$AG=V

AH<$8:L<B:fA$9?$JP=GA<$JB?<R$LG:AH=B$>?$DC:JJE$<$;:G?9;MR$8:JAE>V

;<D?BV>G:B9?L?GQ=B3$ G:8GEr:fA$ >:POA;<D<$ B?K9OP$ AGE9On<RJO$ <

8:n<A;<D:P$XA=T=JAB:(

MQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*FQ*5JOAKLVJBCLJ*IJCAWJXKEYLL*TA*TAKZAOADCJ*[ETIABE

MR

1$+/0

)*6

-#4

%/)#&

+,

cG<C?K=;<=\

-($u=DJA$P:A=G<:C:$dcG:B<A=CH$JC:LMI$<$CED:BMIe$B$N?GP:A=$�wx|^

+($a:A=G<:C$dcG:B<A=CH$JC:LMI$<$CED:BMIe$B$N?GP:A=$y|�(

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$SED?B?9<A=CH$"(b($c?CO;<T=B

$a(U(U?B<D?B

,*16+/$66V2&V))

,*16+/$'%V1'V'-

h"L" 8?ACF?^6>EHFE6YBNZF?E@>c6>?VD@A[DfAA

/9?kc9x*?9i/79Rd]7NQVR:jMd]7

:]*c]VU6jid-y9]iiz6*9*9iW]M6-y9]iiz6*R:]M-6

M"@,Y>P>I^*/#2)3(@(*LC02)#"3&A*6&3&4="04=)2*g4=&K&&*MW*C(*@,*6(4')"*(=*>Z,TI,ITT>*@,

-+)-1&$aX[#b_$:�O$--2($u=C(\$�'$,)2%/$'1)$'-')($¡V���~\$}V}�y}x�� ��|}�(xz(

%662&23$@([A:BG?>?CH3$EC(uER:T=BJD?@?3$9(*

SED?B?9<A=Cf$!>G:BC=;<O$S?JD?P;:98?G:

>?$[A:BG?>?CHJD?PE$DG:f

"(b(cXY�U7t�b!

37/3%/I3d3U<eT:<;3>D39;"T;"UTT:

d3T<fNT;eT:Y

Ug32/H3UTT:3="

!B:K:=PMI$"P<AG<I$bOT=JC:B?B<T�

cG:BC=;<=$4<CH9<<$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP

<$ <;N?GP:Q<?;;MP$ J>?G:P$ G:JJP?AG=C?$ b:r$ ?N<Q<:CH;MI$ 8:>G?J

?A$-6(26(+22)$?$Q=C=J??LG:8;?JA<$>G?B=9=;<O$>?C;?P:JrA:L;?I$C<;V

@B<JA<T=JD?I$WDJ>=GA<8M$P:A=G<:C:$dcG:B<A=CH$JC:LMI$<$CED:BMIe3

?>ELC<D?B:;;?I$B$@:8=A=$dS?9<;:e$q-'$,'1+/$?A$+%(2&(+22)$@($,:BA?G$]

U<D?C:I$�Q=;D?/(

7P=f$T=JAH$J??Ln<AH$b:P$?$G=8ECHA:A:R$>G?B=9=;;?@?$WDJ>=GA:V

P<$@<CH9<<$>G=9B:G<A=CH;?@?$:;:C<8:$>G<JC:;;MR$b:P<$P:A=G<:C?B\

-($ZDJ>=GAM$SXX$4YZ"7[$B$R?9=$WDJ>G=JJV:;:C<8:$9:;;?I$J>?GV

;?I$>ELC<D:Q<<$,;=$OBCOfn=@?JO$?N<Q<:CH;?I$WDJ>=GA<8?I$<$;=$8:V

P=;Ofn=@?$>?C;?P:JrA:L;Ef$JE9=L;Ef$C<;@B<JA<T=JDEf$WDJ>=GA<V

8E/$U�$b¢�b7Y7$B$A=DJA=$ JA:AH<$OB;MR$<$?T=B<9;MR$B=GL:CH;MR

>G<8;:D?B$,JC?B3$JC?B?J?T=A:;<I$<$<;MR$D?P>?;=;A?B$A=DJA:/$>G=JAE>V

C=;<O3$ J$ ?T=B<9;?JAHf$ >?9>:9:fn=@?$ >?9$ 9=IJAB<=$ JA:A=I$ +*23$ +*+

!#$SF$<$p:D?;:$SF$q--&$dX$>G?A<B?9=IJAB<<$WDJAG=P<JAJD?I$9=OV

A=CH;?JA<e(

h"I"` 8?ACF?^6[DZ?>N6aZ?DHGF@AX6/>NB>C@DJ[>?D

!>G:BC=;<=$F=9=G:CH;?I$JCEKLM$>?$;:98?GE$B$JN=G=$JBO8<

<$P:JJ?BMR$D?PPE;<D:Q<I$;?$[A:BG?>?CHJD?PE$DG:f

,!>G:BC=;<=$S?JJBO8HD?P;:98?G:$>?$[A:BG?>?CHJD?PE$DG:f/

uER:T=BJD?@?$EC(3$9($*3$@($[A:BG?>?CH3$%662&2

[>G:B?T;:O\$$,*16/$+'+$%6$%1^

N:DJ\$,*16/$+'%$-6$%6

�V���~\$ x{wv£��v+1�x{wv(xz

?A$-6(26(+22)$q+1�2)16

>3Y850?/81D5FJ7>23X@CY85CCN/7/F1V5

cG=9J=9:A=Cf$>G:BC=;<O$SXX

d4<CH9<O$C<;@B<JA?BVWDJ>=GA?B

>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP

J>?G:Pe$9?DA?GE$N<C?C?@<T=JD<R$;:ED3

>G?N=JJ?GE$a(b($4?GL:;=BJD?PE

}V}�y}x�� ��|}�(xz

!B:K:=PMI$a<R:<C$b<DA?G?B<T�

cG?J<P$ >G?B=JA<$ >G=9B:G<A=CH;MI$ WDJ>G=JJV:;:C<8$ P:A=G<:C:

dcG:B<A=CH$JC:LMI$<$CED:BMIe3$?>ELC<D?B:;;?@?$B$@:8=A=$dS?9<;:e

q-'$ ,'1+/$?A$+%(2&(+22)$@(3$ J$Q=CHf$?>G=9=C=;<O$Q=C=J??LG:8;?JA<$BMV

>?C;=;<O$>?C;?P:JrA:L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M$9:;;?@?$A=DJA:(

c?$<A?@:P$>?C;?P:JrA:L;?I$WDJ>=GA<8M$!>G:BC=;<=$>C:;<GE=A

EJA:;?B<AH3$ J?9=GK:AJO$C<$B$9:;;?P$P:A=G<:C=$>G<8;:D<$B?8LEK9=V

;<O$J?Q<:CH;?I$G?8;<3$B$T:JA;?JA<\

-($7P=fAJO$C<$B$9:;;?P$A=DJA=$BMJD:8MB:;<O3$J?9=GK:n<=$>G?>:V

@:;9E$;=>?C;?Q=;;?JA<$D:D?IVC<L?$J?Q<:CH;?I$@GE>>M$>?$?A;?r=V

;<f$D$9GE@?I�

+($7P=fAJO$C<$BMJD:8MB:;<O$E;<T<K<A=CH;?@?$R:G:DA=G:$>?$?A;?V

r=;<f$D$C<Q:P$D:D?IVC<L?$J?Q<:CH;?I$@GE>>M�

%($�JAH$C<$BMJD:8MB:;<O$>?LE9<A=CH;?@?$R:G:DA=G:3$ J?9=GK:n<=

>G<8MBM$D$BG:K9=L;MP$<C<$;:J<CHJAB=;;MP$9=IJAB<OP$B$?A;?r=;<<

?9;?I$J?Q<:CH;?I$@GE>>M$>G?A<B$9GE@?I�

&($�JAH$C<$BMJD:8MB:;<O3$@9=$L=9JAB<O3$;=LC:@?>?CET<=$B$>G?rC?P3

;:JA?On=P$<$LE9En=P$?9;?I$J?Q<:CH;?I$@GE>>M$?LsOJ;OfAJO$JEn=V

JAB?B:;<=P$<$Q=C=;:>G:BC=;;?I$9=OA=CH;?JAHf$ ,9=IJAB<OP</$9GE@?I

J?Q<:CH;?I$@GE>>M�

6($ $a?K;?$C<$T<A:A=Cf$<8$ J?9=GK:A=CH;?VJPMJC?B?I$;:>G:BC=;V

;?JA<$A=DJA:$B$Q=C?P$J9=C:AH$BMB?93$TA?$=@?$;=LC:@?>?CET<=$?LsOJ;OV

=AJO$Q=C=;:>G:BC=;;?I$9=OA=CH;?JAHf$,9=IJAB<OP</$9GE@?I$J?Q<:CHV

;?I$@GE>>M3$JEn=JABEfn<P$@?JE9:GJAB=;;MP$JAG?=P�

OT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*FQ*5JOAKLVJBCLJ*IJCAWJXKEYLL*TA*TAKZAOADCJ*[ETIABE

OS

1$+/0

)*6

-#4

%/)#&

+,

h"M"` 8?ACF?^6NZ>?@\c6EFBNE6GANE>HBA]

O8>ED1313Y5850/B3D>?/81ZGh

9Uc-*7*VMj6?j.*9?9*:]MdMjd*X?j{|j/]*7M-/-*dMUc]7]/]*i-M]c-

cEA<;$]$>G=9:A=CH3$B?=;;MI$<$@?JE9:GJAB=;;MI$>G=JAE>;<D3$JA:BV

C=;;<D$P<G?B?@?$=BG=IJD?@?$D:><A:C:3$P:G<?;=AD:$B$GED:R$:;@C?V:P=V

G<D:;JD<R$<$@=GP:;JD<R$R?8O=B3$EL<IQ:$G:L?T=VDG=JAHO;JD?I$P?C?9=V

K<$B$T=T=;JD?I$B?I;=$<$P<CC<?;?B$G?JJ<O;3$EP<G:fn<R$?A$J<JA=P:V

A<T=JD?@?$;=9?=9:;<O$<$R?C?9:3$:DA<B;MI$J?ET:JA;<D$>G=JAE>C=;<I

U:A?BJD?I$B?=;n<;M$B$_N@:;<JA:;=(

c?$JB?<P$>?C<A<T=JD<P$B8@CO9:P$=BG=IJD<I$N:r<JAVJ<?;<JA3$JT<A:V

fn<I$JB?=I$9ER?B;?I$S?9<;?I$[�_$<$4=GP:;<f3$N:;:A<T;MI$JA?G?;V

;<D$<$>G?9?CK:A=CH$G:8GEr<A=CH;MR$=CHQ<;JD<R$G=N?GP($c?$P?G:CH;MP

<$9=C?BMP$D:T=JAB:P$rD?CH;MI$AG?=T;<D3$>?JG=9JAB=;;MI$?>=G:A<B;MI

G:L?A;<D$LMBr=@?$#403$T=C?B=D$L=8$T=JA<$<$J?B=JA<3$8:D?;T=;;MI$;=@?V

9OI$J$?C?BO;;MP<$@C:8:P<($0E9ET<$J?AGE9;<D?P$@?JL=8?>:J;?JA<3$>?$JB?V

=I$<;<Q<:A<B=$EJA:;?B<C$>G=JAE>;Ef$JBO8H$J$8:>:9;MP<$J>=QJCEKL:P<3

>G=9:C$J?JCEK<BQ=B$<$BM9:C$BJ=$J=DG=AM$<8B=JA;M=$=PE$>?$G:L?A=(

YfA?$;=;:B<9<A$S?JJ<f3$GEJJD<I$;:G?93$=@?$@=G?<T=JDEf$<JA?G<f3

;:r<R$?AQ?B$<$9=9?B3$G:8@G?P<Br<R$@=GP:;JD<I$N:r<8P$<$J>:Jr<R

;:J$?A$<JAG=LC=;<O($p:D?;?9:A=CH;MP<$P=G:P<$J>?J?LJABE=A$9:CH;=IV

r=PE$?@G:LC=;<f$<$BMP<G:;<f$;:J=C=;<O(

$%($_;:C<8<GE=PMI$A=DJA$>?$K:;G?B?VJA<C<JA<T=JD<P$?J?L=;;?JAOP

?A;?J<AJO$D$B<9E$>ELC<Q<JA<T=JD<R$A=DJA?B($cG<$=@?$J?89:;<<$LMC<

<J>?CH8?B:;M$D:D$JC?B:$J$;=IAG:CH;?I$JA<C<JA<T=JD?I$?DG:JD?I3$A:D$<

WP?Q<?;:CH;?$?DG:r=;;:O$C=DJ<D:3$D?A?G:O$;=$BR?9<A$B$C=DJ<T=JD?=

O9G?$GEJJD?@?$C<A=G:AEG;?@?$O8MD:$<$?A;?J<AJO$D$C=DJ<D=$P:G@<;:CHV

;MR$J?Q<:CH;MR$@GE>>$;:J=C=;<O^$A:DK=$$LMC<$<J>?CH8?B:;M$<;9<B<V

9E:CH;?V:BA?GJD<=$P=A:N?GM$J$A(;($dKoJAD?I$JA<C<JA<D?Ie3$BMR?9On=I

8:$@G:;<QM$>G<;OAMR$B$?Ln=JAB=$;?GP($X9;:D?3$D:D$;:P$>G=9JA:BCO=AV

JO3$9:;;MI$A=DJA$J$A?TD<$8G=;<O$J=P:;A<D<$=@?$D?P>?;=;A?B$;=$P?K=A

LMAH$DB:C<N<Q<G?B:;$D:D$J?8;:A=CH;MI$>G<8MB$:BA?G:$D$;:J<C<f3$D

G:8K<@:;<f$;:Q<?;:CH;?I$<$J?Q<:CH;?I$G?8;<3$R?AO$J$WA<T=JD?I$A?TV

D<$8G=;<O$?;$P?K=A$JA:AH$?Ls=DA?P$G:JJP?AG=;<O$B$0?CHr?P$KfG<

[?f8:$KEG;:C<JA?B$SF$,J?>G=9J=9:A=CH$]$9?DA?G$fG<9<T=JD<R$;:ED

a(_(F=9?A?B^$JP($>?9G?L;?JA<$;:$J:IA=$[5S$]$���(xz�(xz/(

$&($b$A?$K=$BG=PO$WDJ>=GAM$SXX$4YZ"7[$EJP:AG<B:fA$;:C<T<=$B

A=DJA=$JA:AH<$dcG:B<A=CH$JC:LMI$<$CED:BMIe$;=D?A?GMR$JC?B$<$JC?V

B?J?T=A:;<I3$B$D?A?GMR$P?@EA$ J?9=GK:AHJO$>G<8;:D<$9=O;<O3$?AB=AV

JAB=;;?JAH$8:$D?A?G?=$>G=9EJP?AG=;:$JA(%-)$!#$SF(

X9;:D?$9CO$A?T;MR$<$?Ls=DA<B;MR$BMB?9?B$?$;:C<T<<$B$A=DJA=$JA:V

AH<$dcG:B<A=CH$JC:LMI$<$CED:BMIe$B$@:8=A=$dS?9<;:e$JC?B$<$JC?B?J?V

T=A:;<I3$?LC:9:fn<R$>G<8;:D:P<$9=O;<O3$?AB=AJAB=;;?JAH$ 8:$D?A?V

G?=$>G=9EJP?AG=;:$JA(%-)$!#$SF3$G:8EP==AJO3$;=?LR?9<P:$>?C;?P:JV

rA:L;:O$D?P<JJ<?;;:O$C<;@B<JA<T=JD:O$WDJ>=GA<8:3$:$;=$>=GB<T;MI

WDJ>G=JJV:;:C<8(

S=D?P=;9E=P$b:P$9CO$==$>G?B=9=;<O$?LG:A<AHJO$D$;:r<P$>:GA;=G:P

B$`FX$]$D$_JJ?Q<:Q<<$$C<;@B<JA?BVWDJ>=GA?B$d_G@EP=;Ae$,@($a:ID?>^

JB<9=A=CHJAB?$?$@?JG=@<JAG:Q<<$?A$'$:B@EJA:$+22*$@?9:$q$2--+2-2+-*3

BM9:;?$!>G:BC=;<=P$a<;<JA=GJAB:$fJA<Q<<$S?JJ<IJD?I$F=9=G:Q<<

>?$ `K;?PE$ N=9=G:CH;?PE$ ?DGE@E($ X4SU$ $ -2*2-22222&-)3$ 7UU

-26261+%%3$#cc$-262-22-/($cG=9J=9:A=CH$>G:BC=;<O$:JJ?Q<:Q<<$]$9?DV

A?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G3$8:JCEK=;;MI$9=OA=CH$;:ED<$#EV

L:;<$<$S=J>ELC<D<$_9M@=O$U:P<A?D?B:$S?8:$`JEN?B;:3$?AB=AJAB=;V

;MI$J=DG=A:GH$]$D:;9<9:A$N<C?C?@<T=JD<R$;:ED3$9?Q=;A$U=NCOr=B:

7;9<G:$ _P<;?B;:($ u=C($ *,*''+/$ 6+V&-V1&^$ *V)2%V&16V&&V--3$ }V���~

�x�z�}��z��~�{�(xz

[$EB:K=;<=P3

cG=9J=9:A=CH$>G:BC=;<O

4<CH9<<$C<;@B<JA?BVWDJ>=GA?B

>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?G:P3

9?DA?G$N<C?C?@<T=JD<R$;:ED3

>G?N=JJ?G3$:D:9=P<D$S_�U a(b(4XS0_U�b[#7�

'$7JJC=9E=PMI$A=DJA$>G=9JA:BCO=A$J?L?I$C<JA?BDE3$<8sOAEf$B$+22*$@($B$?9;?P$<8$@?G?9?B

`FX(

Oh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*FQ*5JOAKLVJBCLJ*IJCAWJXKEYLL*TA*TAKZAOADCJ*[ETIABE

OI

1$+/0

)*6

-#4

%/)#&

+,

[$BMB?9:P<$WDJ>=GA:$;=$J?@C:J;M3$>?JD?CHDE$J?@C:J;?$d[C?B:Gf

GEJJD?PE$ O8MDEe$ XK=@?B:$ [(7($ d9?C?Ie$ ]$ WA?$ ;:G=T<=($ cG?TH3$ B?;(

iB013C3=F/V30"h3j"375=8/2>D7>CDJh^$J?@C:J;?$`G<9<T=JD?PE$W;Q<DC?V

>=9<T=JD?PE$JC?B:Gf$[ER:G=B:$_(�($dG=K<Pe$]$WA?$J?B?DE>;?JAH$P=V

A?9?B$<$>G<=P?B$?JEn=JABC=;<O$@?JE9:GJAB=;;?I$BC:JA<3$R:G:DA=G<V

8Efn:O$>?C<A<T=JDEf$?LJA:;?BDE$B$JAG:;=(

[C=9?B:A=CH;?3$d"?C?I$N:r<JAJD<I$?DDE>:Q<?;;MI$G=K<P$cEA<V

;:$<$=@?$L:;9E$>G=9:A=C=I$<$E@?C?B;<D?Be$P?K;?$A?CD?B:AH$D:D$>G<V

8MB$D$ JP=;=$J?B?DE>;?JA<$P=A?9?B$<$>G<=P?B$?JEn=JABC=;<O$>G=8<V

9=;A?P$SF$cEA<;MP$b(b($@?JE9:GJAB=;;?I$BC:JA<($#$A?PE$K=$J$ET=V

A?P$A?@?3$TA?$9:;;:O$C<JA?BD:$LMC:$G:J>G?JAG:;=;:$>=G=9$BML?G:P<

B$4?JE9:GJAB=;;Ef$"EPE$SF3$J?JA?OBr<P<JO$+$9=D:LGO$+22'@(3$@9=$B

J><JD=$?A$>?C<A<T=JD?I$>:GA<<$�9<;?I$S?JJ<<$8;:T<CJO$cEA<;$b(b(3

A?$9:;;MI$>G<8MB$P?K;?$?L?J;?B:;;?$A?CD?B:AH$D:D$>G<8MB$@?C?J?V

B:AH$>G?A<B$cEA<;:3$A?$=JAH$8:$<;Ef$>:GA<f3$;=$�9<;Ef$S?JJ<f(

b$JBO8<$J$T=P$LMC$?>G?r=;$WDJ>=GA3$>G?B?9<Br<I$9:;;?=$<JJC=9?V

B:;<=3$D?A?GMI$>?9AB=G9<C3$TA?$9=IJAB<A=CH;?3$>G<$:;:C<8=$><JHP=;V

;?@?$A=DJA:$C<JA?BD<$P?K;?$J9=C:AH$BMB?9$?$A?P3$TA?$:BA?G$C<JA?BD<

>G<8MB:=A$@?C?J?B:AH$>G?A<B$cEA<;:$b(b(3$A?$=JAH$8:$<;Ef$>:GA<f3

;=$�9<;Ef$S?JJ<f3$;?$>G<$WA?P$A:DK=$P?K;?$>G=9>?C?K<AH3$TA?$:BV

A?G$P?@$>G<8MB:AH$D$;:J<CHJAB=;;?I$JP=;=$>?C<A<T=JD?@?$G=K<P:3$A?

=JAH$D$?JEn=JABC=;<f$B?J>G=>OAJAB?B:;<O$8:D?;;?I$9=OA=CH;?JA<$@?V

JE9:GJAB=;;MR$ ?G@:;?B$ ,cG=8<9=;A:$ SF/3$ J?=9<;=;;?@?$ J$ ;:J<C<=P

C<L?$E@G?8?I$=@?$>G<P=;=;<O(

$cG?J<P$>G?B=JA<$>G=9B:G<A=CH;MI$:;:C<8$A=DJA:$9:;;?I$C<JA?BV

D<$;:$>G=9P=A\$<P=fAJO$C<$B$;=I$BMG:K=;<O3$J?9=GK:n<=$>G<8MBM$D

?JEn=JABC=;<f$WDJAG=P<JAJD?I$9=OA=CH;?JA<3$ED:8:;;?I$B$>(-$JA(-$F=V

9=G:CH;?@?$8:D?;:$?A$+6(2'(+22+$@($q--&VFp$dX$>G?A<B?9=IJAB<<$WDV

JAG=P<JAJD?I$9=OA=CH;?JA<e3$=JC<$9:3$A?$D$D:D?I$<P=;;?(

b$JCET:=$E9?BC=AB?G=;<O$;:J$B:r<P$>G=9B:G<A=CH;MP$?AB=A?P$B:P

LE9=A$ >?GET=;?$ >G?B=9=;<=$ C<;@B<JA<T=JD?@?$ <JJC=9?B:;<O$ 9:;;?I

C<JA?BD<$;:$9?@?B?G;?I$?J;?B=(

b$JBO8<$J$WA<P$>G?J<P$J??Ln<AH$JG?D$?N<Q<:CH;?@?$<JJC=9?B:;<O

9:;;?I$C<JA?BD<3$ $JA?<P?JAH$9:;;?@?$<JJC=9?B:;<O3$>?GO9?D$8:DCfV

T=;<O$9?@?B?G:$<$?>C:AM$B:r<R$EJCE@3$:$A:DK=$;:>G:B<AH$B$WC=DAG?;V

;?I$N?GP=$;:P$>G=9C?K=;<O$>?$N?GPEC<G?BD:P$B?>G?J?B$9CO$<R$>?V

JA:;?BD<$WDJ>=GAE$,WDJ>=GA:P/(

XAB=A$>G?J<P$;:>G:B<AH$;:$RRRRR�RRRRR(xz($u=C($,RRRR/VRRRVRRVRRR

cG<C?K=;<=\$C<JA?BD:(

[A:Gr<I$JC=9?B:A=CH

JC=9JAB=;;?@?$?A9=C:$!>G:BC=;<O

D:><A:;$fJA<Q<<$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$m($m($mRRRRRRR

cC:;?P=G;?$<$Q=C=;:>G:BC=;;?$G:8GEr:=A$@?JE9:GJAB?$<$:GP<f3

J?89:=A$EJC?B<O$9CO$?DDE>:Q<<$JAG:;M$B?IJD:P<$U_uX3$>G=BG:n=V

;<O$==$B$JMGH=BEf$D?C?;<f$p:>:9:3$:$;:J=C=;<=$B$G:L?B$AG:;J;:Q<?V

;:CH;MR$D?G>?G:Q<I$DGE>;=Ir<R$<P>=G<:C<JA<T=JD<R$@?JE9:GJAB(

"?C?I$N:r<JAJD<I$?DDE>:Q<?;;MI$G=K<P$cEA<;:$<$=@?$L:;9E$>G=V

9:A=C=I$<$E@?C?B;<D?B(

S?9<;:$<C<$JP=GAH�$bP=JA=$>?L=9<P�

h"O"` 8?ACF?^6[DZ?>N6NGFJ>HDEFGX6aZ?DHGF@AXd1$

ZD8(¤¤

F�"�S_Y�U_� cG=9J=9:A=Cf$>G:BC=;<O

[Y!50_$0�pXc_[UX[u7 4YZ"7[

SX[[7�[#X�$F�"�S_�77 4?GL:;=BJD?PE$a(b(

,F[0$S?JJ<</

!cS_bY�U7�

>?$mRRRRRRRR$RRRRR

-&(2&(+22*@($q$--�-1V-2+

@(mRRRRRRRRRRR3$mmmmmm

[C=9JAB=;;MP$ ?A9=C?P$ !F[0$ S?JJ<<$ >?$ mRRRRRRRRRR$ RRRRRRRR

>G?B?9<AJO$>G?B=GD:$J??Ln=;<O$?$>G=JAE>C=;<<3$>G=9EJP?AG=;;?@?

T(-$JA(+*2$!#$SF3$B$>?GO9D=$JA(JA(-&&V-&6$!c#$SF$>?$N:DAE$?L;:GEV

K=;<O$ C<JA?BD<3$ B$ D?A?G?I$ 9:=AJO$ ;=@:A<B;:O$ ?Q=;D:$ 9=OA=CH;?JA<

cG=8<9=;A:$SF$cEA<;:$b(b($!D:8:;;:O$C<JA?BD:$LMC:$<8sOA:$B$?9;?P

<8$P;?@?DB:GA<G;MR$9?P?B$@(mRRRRRRRRRR$-6$;?OLGO$+22'@(3$ A?$ =JAH

>=G=9$BML?G:P<$B$4?JE9:GJAB=;;Ef$"EPE$SF$+$9=D:LGO$+22'@(

b$R?9=$>G?B=GD<$>G?B?9<C?JH$C<;@B<JA<T=JD?=$<JJC=9?B:;<=$ED:V

8:;;?I$C<JA?BD<$WDJ>=GA?P$Z#�$;(>($4!b"$mRRRRRRRRRRRR$RRRRRRRR3

B$G=8ECHA:A=$D?A?G?@?$WDJ>=GA$J9=C:C$BMB?9$?$A?P3$TA?$B$>G=9JA:BC=;V

;?I$;:$<JJC=9?B:;<<$A=DJA=$C<JA?BD<$<P==AJO$BMJD:8MB:;<=3$ J?9=GV

K:n==$>G<8MBM$D$?JEn=JABC=;<f$B?J>G=>OAJAB?B:;<O$8:D?;;?I$9=OV

A=CH;?JA<$@?JE9:GJAB=;;MR$?G@:;?B$ ,cG=8<9=;A:$SF/3$ J?=9<;=;;?@?

J$;:J<C<=P$C<L?$E@G?8?I$=@?$>G<P=;=;<O($cG<$WA?P$B$<JJC=9?B:A=CHV

JD?I$T:JA<$J>G:BD<$?L$<JJC=9?B:;<<$ED:8:;?3$TA?$d>GOPM=$>G<8MBM$D

?JEn=JABC=;<f$B?J>G=>OAJAB?B:;<O$8:D?;;?I$9=OA=CH;?JA<$@?JE9:GV

JAB=;;MR$ ?G@:;?B$ ,cG=8<9=;A:$ SF/3$ J?=9<;=;;?@?$ J$ ;:J<C<=P$ C<L?

E@G?8?I$ =@?$ >G<P=;=;<Oe3$ J?9=GK:AJO$ B$ JC=9Efn=P$ A=DJA=\$ d"?C?I

N:r<JAJD<I$?DDE>:Q<?;;MI$G=K<P$cEA<;:$<$=@?$L:;9E$>G=9:A=C=I$<

E@?C?B;<D?B($S?9<;:$<C<$JP=GAH�$bP=JA=$>?L=9<P�e(

OL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*FQ*5JOAKLVJBCLJ*IJCAWJXKEYLL*TA*TAKZAOADCJ*[ETIABE

OM

1$+/0

)*6

-#4

%/)#&

+,

?A;?J<AJO3$B$T:JA;?JA<3$D$A:D<P$D?P>?;=;A:P$A=DJA:3$D:D\$d>G=9:A=CHe3

dB?=;;MI$<$ @?JE9:GJAB=;;MI$>G=JAE>;<De3$ d8:D?;T=;;MI$;=@?9OIe3

dCfA?$;=;:B<9<A$S?JJ<fe3$d8:D?;?9:A=CH;MP<$P=G:P<$J>?J?LJABE=A

?@G:LC=;<f$<$BMP<G:;<f$;:J=C=;<Oe3$dJ?89:=A$EJC?B<O$9CO$?DDE>:V

Q<<$JAG:;M$B?IJD:P<$U_uXe3$d=BG=IJD<I$N:r<JAVJ<?;<JAe$<$9G(

":;;:O$?Q=;D:$;:r<P<$WDJ>=GA:P<$>G=9JA:BC=;;?@?$9CO$:;:C<8:

A=DJA:$B$G:B;?I$P=G=$?A;?J<AJO$A:DK=$<$D$NG:8=$d0E9ET<$J?AGE9;<D?P

@?JL=8?>:J;?JA<3$>?$JB?=I$<;<Q<:A<B=$EJA:;?B<C$>G=JAE>;Ef$JBO8H$J

8:>:9;MP<$J>=QJCEKL:P<3$>G=9:C$J?JCEK<BQ=B$<$BM9:C$BJ=$J=DG=AM3

<8B=JA;M=$=PE$>?$G:L?A=e($[PMJC$WA?I$NG:8M$P?K;?$AG:DA?B:AH$?9V

;?8;:T;?\$:BA?G$C<JA?BD<3$<J>?CH8EO$WA<$JC?B:$<$BMG:K=;<O3$?ADGMA?

?LB<;O=A$>G=8<9=;A:$b(b(cEA<;:$B$@?JE9:GJAB=;;?I$<8P=;=$,JP($JA($+'6

!#$SF/(

&($"=A:CH;MI$:;:C<8$ ,?N<Q<:CH;:O$JE9=L;:O$C<;@B<JA<T=JD:O$WDJV

>=GA<8:/$D?P<JJ<=I$WDJ>=GA?B$4YZ"7[$>G=9JA:BC=;;?@?$b:P<$A=DJA:

;:$>G=9P=A$B?8P?K;?@?$BMOBC=;<O$B$;oP$C<;@B<JA<T=JD<R$>G<8;:D?B

,JC?B3$JC?B?J?T=A:;<I$<$<;MR$D?P>?;=;A?B$A=DJA:/$>G=JAE>C=;<I3$>?9V

>:9:fn<R$>?9$9=IJAB<=$JA:A=I$+*23$+*+3$-+)$<$%-)$!#$SF$!#$SF3$AG=LEV

=A$8;:T<A=CH;?@?$BG=P=;<$<$D?;Q=;AG:Q<<$EJ<C<I$;:r<R$;:<L?C==$?>MAV

;MR$WDJ>=GA?BVC<;@B<JA?B($cG?B=9=;<=$A:D?I$?N<Q<:CH;?I$WDJ>=GA<V

8M$B$9:;;MI$P?P=;A$,G:;==$?DAOLGO$+22*$@(/$;=$>G=9JA:BCO=AJO$B?8P?KV

;MP$]$B$J<CE$J=GHo8;?I$>=G=@GEK=;;?JA<$WDJ>=GA?B$;:r=I$@<CH9<<$<JV

JC=9?B:;<OP<$>?$?>G=9=C=;<OP3$EK=$BM;=J=;;MP$JE9:P<$GO9:$G=@<?V

;?B$S?JJ<IJD?I$F=9=G:Q<<3$<C<$>?$>?JA:;?BC=;<OP$?G@:;?B$JC=9JAB<O

<$9?8;:;<O(

6($b$A?$K=$BG=PO$B$G:PD:R$?JEn=JABC=;<O$;=?LR?9<P?I$<;N?GP:Q<V

?;;?I$>?99=GKD<$PM$P?K=P$;:>G:B<AH$b:P$;:rE$D?;DG=A;Ef$G=D?V

P=;9:Q<f$>?$D:;9<9:AEG=$WDJ>=GA;?I$?G@:;<8:Q<<$,J$ED:8:;<=P$F7X

9?CK;?JA;MR$C<Q3$:9G=J?B3$A=C=N?;?B3$}V���~/3$D$D?A?G?I$bM$P?@C<$LM

?LG:A<AHJO$J$8:>G?J?P$?$B?8P?K;?JA<$>G?B=9=;<O$J<C:P<$==$WDJ>=GA?B

;=?LR?9<P?I$WDJ>=GA<8M($XAP=A<P3$TA?$;:<L?C==$D?P>=A=;A;MP<$<

?Ls=DA<B;MP<$WDJ>=GA:P<VC<;@B<JA:P<$BMJr=I$DB:C<N<D:Q<<$9CO$>G?V

B=9=;<O$WDJ>=GA<8M$A=DJA:$9:;;?I$C<JA?BD<$$PM$JT<A:=P$;:r<R$D?CC=@

<8$Y<;@B<JA<T=JD?I$C:L?G:A?G<<$F=9=G:CH;?@?$Q=;AG:$JE9=L;MR$WDJV

>=GA<8$>G<$a<;<JA=GJAB=$fJA<Q<<$SF$<$<8$7;JA<AEA:$GEJJD?@?$O8MD:

<P($b(b(b<;?@G:9?B:$S_U(

[$EB:K=;<=P3

cG=9J=9:A=CH$>G:BC=;<O

4<CH9<<$C<;@B<JA?BVWDJ>=GA?B

>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?G:P3

9?DA?G$N<C?C?@<T=JD<R$;:ED3

>G?N=JJ?G3$:D:9=P<D$S_�U a(b(4XS0_U�b[#7�

h"P" 8?ACF?^6>EHFE6YBNZF?E@>c6>?VD@A[DfAA

/9?kc9x*?9i/79Rd]7NQVR:jMd]7

:]*c]VU6jid-y9]iiz6*9*9iW]M6-y9]iiz6*R:]M-6

M"@,Y>P>I^*/#2)3(@(*LC02)#"3&A*6&3&4="04=)2*g4=&K&&*MW*C(*@,*6(4')"*(=*>Z,TI,ITT>*@,

-+)-1&$aX[#b_$:�O$--2($u=C(\$�'$,)2%/$'1)$'-')($¡V���~\$}V}�y}x�� ��|}�(xz(

@(mRRRRRRRRR(

!>G:BC=;<=$F[0$>?$mRRRRRRRRRR$RRRRRRRRRRRRR

[A:Gr=PE$JC=9?B:A=Cf$JC=9JAB=;;?@?$?A9=C:

#:><A:;E$fJA<Q<<$mmmmmmm$m(m(

!/3%/I3d99e9<N9TU33>D39]"T]"UTTg

3d39T<NT]eTgY33UU3/Y85FH33UTTg3="

!B:K:=PMI$A?B($m(m(mRRRRRR�

cG:BC=;<=$4<CH9<<$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<

<;N?GP:Q<?;;MP$J>?G:P$G:JJP?AG=C?$b:r$?N<Q<:CH;MI$8:>G?J$?A$-&

:>G=CO$+22*$@($?$>G?B=9=;<<$;:r=I$4<CH9<=I$C<;@B<JA<T=JD?@?$<JJC=9?V

B:;<O$A=DJA:$C<JA?BD<$d7E9:$B$#G=PC=3$<C<$>?GAG=A$8C=Ir=@?$BG:@:$AGEV

9?B?@?$;:G?9:e$]$B$JBO8<$J$>G?B=GD?I$B$>?GO9D=$JA(JA(-&&V-&6$!c#$SF(

7P=f$T=JAH$J??Ln<AH$b:P$?$G=8ECHA:A:R$>G?B=9=;;?@?$WDJ>=GA:V

P<$4<CH9<<$WDJ>G=JJV:;:C<8:3$;=$OBCOfn=@?JO$?N<Q<:CH;?I$WDJ>=GV

A<8?I$<$;=$?LC:9:fn=@?$;=?LR?9<P?I$>G?Q=JJE:CH;?I$J<C?I\

-($cG=9JA:BC=;;MI$9CO$:;:C<8:$P:A=G<:C$J?9=GK<A$GO9$?T=B<9;MR

C<;@B<JA<T=JD<R$>G<8;:D?B$,JC?B3$JC?B?J?T=A:;<I$<$<;MR$D?P>?;=;V

A?B$A=DJA:/$9=O;<I3$>?9>:9:fn<R$>?9$9=IJAB<=$JA:A=I$+*23$+*+3$-+)$<

%-)$ !#$ SF3$ :$ A:DK=$ Fp$ q--&$ dX$ >G?A<B?9=IJAB<<$ WDJAG=P<JAJD?I

9=OA=CH;?JA<e(

+($#?P>?;=;A$d"?C?Ie3$?$D?A?G?P$bM$><r=A=3$;=9?>EJA<P?$G:JV

JP:AG<B:AH$?A9=CH;?3$B$?AGMB=$?A$D?;A=DJA:$BJ=I$C<JA?BD<($X;$OBCOV

=AJO$C?@<T=JD<P$<A?@?P$?><J:;<O$:;?;<P;MP$:BA?G?P$C<JA?BD<$d>G=V

JAE>C=;<Ie$9=IJABEfn=I$B$S?JJ<IJD?I$$F=9=G:Q<<$8:D?;;?I$BC:JA<3

B?$@C:B=$D?A?G?I$JA?<A$?N<Q<:CH;?$<8LG:;;MI$>G=8<9=;A$b(b(cEA<;3

<$>?WA?PE$B$ J??AB=AJAB<<$J$D?P>?8<Q<=I$C<JA?BD<3$:$ A:DK=$J$BMG:V

K=;;MP$;:G:JA:;<=P$JA<C<JA<T=JD?I$<$>J<R?C?@<T=JD?I$WP?Q<?;:CHV

;?JA<$<$;:>GOK=;;?JA<$==$A=DJA:3$JCEK<A$8:B=Gr:fn<P$>G<8MB?P$D

EJAG:;=;<f$WA?I$BC:JA<3$A?$=JAH$D$=o$JB=GK=;<f(

%($ bM8MB:=A$ ;=9?EP=;<=$ A?A$ N:DA3$ TA?$ WDJ>=GA$ Z#�$ ;(>($ 4!b"

mRRRRRRRRRRRRRRR$RRRRRRRRRRR$;=$?LG:A<C$B;<P:;<=$JC=9JAB<O$;:$?T=V

B<9;M=$ B=GL:CH;M=$ >G<8;:D<$ ?JD?GLC=;<O$ BMJr=@?$ 9?CK;?JA;?@?

C<Q:$S?JJ<IJD?I$F=9=G:Q<<3$TA?3$>?$;:r=PE$EL=K9=;<f3$P?K=A$>?9V

>:9:AH$>?9$9=IJAB<=$JA($%-)$,:$A:DK=3$B?8P?K;?3$<$JA($-+)$!#$SF/($ZA?

OO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*FQ*5JOAKLVJBCLJ*IJCAWJXKEYLL*TA*TAKZAOADCJ*[ETIABE

OP

1$+/0

)*6

-#4

%/)#&

+,

*,klm#&$%3MF1B3+L8/2>?1E$]$TC=;$cG:BC=;<O$4<CH9<<3$9=IJAB<V

A=CH;MI$TC=;$4<CH9<<l$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MPl$<

<;N?GP:Q<?;;MPl$ J>?G:P3$9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G

D:N=9GM$C=DJ<D?@G:N<<$<$A=?G<<$>=G=B?9:$a?JD?BJD?@?$@?JE9:GJAB=;V

;?@?$ E;<B=GJ<A=A:$ <P(a(b(Y?P?;?J?B:l$ ,J>=Q<:CH;?JAH\$ d-2(2+(2-$ ]

SEJJD<I$O8MDe^$9<>C?P$9?DA?G:$N<C?C?@<T=JD<R$;:ED$q$aFY$22-+'2

?A$%-(-2(-)'6$@(3$ JA:K$G:L?AM$>?$J>=Q<:CH;?JA<$]$&*$C=A3$ WDJ>=GA;:O

J>=Q<:C<8:Q<O$]$CG05L7/H3F17=?1CD1E5C@/H3X@CY58D1V//^

n)$R#'$%+3(/F17/3!1@>F/5?7/3$]$TC=;$cG:BC=;<O$4<CH9<<3$9=IV

JAB<A=CH;MI$TC=;$4<CH9<<$$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;V

;MP$<$<;N?GP:Q<?;;MP$$J>?G:P3$9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?V

N=JJ?G$D:N=9GM$P:JJ?BMR$D?PPE;<D:Q<I$N<C?C?@<T=JD?@?$N:DECHV

A=A:$ S?JJ<IJD?@?$ E;<B=GJ<A=A:$ 9GEKLM$ ;:G?9?B$ ,J>=Q<:CH;?JAH\

d-2(2+(2-$]$ SEJJD<I$ O8MDe3$ 9<>C?P$ 9?DA?G:$ N<C?C?@<T=JD<R$ ;:ED

q$"#$2+&1+&$?A$-*(2+(+226$@(3$JA:K$G:L?AM$>?$J>=Q<:CH;?JA<$]$-6$C=A3

WDJ>=GA;:O$J>=Q<:C<8:Q<O$]$JE9=L;:O$C<;@B<JA<T=JD:O$WDJ>=GA<8:/(

-(&($p:D:8T<D$?LO8E=AJO$?>C:A<AH$>G?B=9=;<=$ED:8:;;MR$BMr=$;:V

ET;MR$D?;JECHA:Q<I$JEPP?I$B$G:8P=G=$RR(RRR$GEL($,RR$AMJOT$RRR/$GEL(3

BDCfT:O$U"[$R(RRR$GEL($,<JR?9O$<8$JA?<P?JA<$-$:D:9=P<T=JD?@?$T:J:

B$RRR$GEL($L=8$U"[$<$?Ln=@?$D?C<T=JAB:$:D:9=P<T=JD<R$T:J?B$]$&2/(

cG=9?>C:A:$]$-22�(

-(6($7J>?C;<A=CH$?LO8E=AJO$?JEn=JAB<AH$;:ET;M=$D?;JECHA:Q<<$B

JG?D$;=$L?C==$)2$D:C=;9:G;MR$9;=I3$>G<$WA?P$9;oP$;:T:C:$G:L?A$JT<V

A:=AJO$9:A:$>?JAE>C=;<O$>G=9?>C:AM3$?JEn=JABC=;;?I$p:D:8T<D?P3$;:

L:;D?BJD<I$JT=A$7J>?C;<A=CO($u?T;MI$@G:N<D$D?;JECHA:Q<I$G:8G:V

L:AMB:=AJO$<$EAB=GK9:=AJO$J?BP=JA;?$p:D:8T<D?P$<$7J>?C;<A=C=P$B

G:L?T=P$>?GO9D=(

-(1($7J>?C;<A=CH$?LO8E=AJO$?L=J>=T<AH$p:D:8T<D:$;:L?G?P$;:ETV

;?VP=A?9<T=JD?I$C<A=G:AEGM$,B$?G<@<;:C:R$<C<$DJ=G?D?><OR/3$;=?LV

R?9<P?I$9CO$>G?B=9=;<O$D?;JECHA:Q<I$<$8:DG=>C=;<O$>?CET=;;MR$8;:V

;<I($c?JC=$8:B=Gr=;<O$D?;JECHA:Q<I$9:;;MI$;:L?G$P:A=G<:C?B$?JA:V

=AJO$B$G:J>?GOK=;<<$p:D:8T<D:$9CO$9:CH;=Ir=@?$<R$<J>?CH8?B:;<O$B

>G:DA<T=JD?I$G:L?A=(

I,*:]Mxc]V*]W]M6?ji9x.*Rc-<9N:M9j6-*9

]:?-dz*M-!]d

+(-($ XD?;T:;<=$ >G?B=9=;<O$ ;:ET;MR$ D?;JECHA:Q<I$ >?$ "?@?B?GE

?N?GPCO=AJO$ JA?G?;:P<$ :DA?P$ J9:T<V>G<=P:$ G:L?A$ B$ A=T=;<=$ 9BER

,9BER/$9;=I$J?$9;O$>?CET=;<O$p:D:8T<D?P$?N<Q<:CH;?@?$8:DCfT=;<O

D?P<JJ<<$J>=Q<:C<JA?B($cG=A=;8<<$D$J?9=GK:;<f$D?;JECHA:Q<I$7JV

>?C;<A=C=P$;=$>G<;<P:fAJO$<$;=$G:JJP:AG<B:fAJO(

+(+($S:L?AM$>?$>G?B=9=;<f$;:ET;MR$D?;JECHA:Q<I$$?>C:T<B:fAJO

:B:;J?P$B$G:8P=G=$-22�$JEPPM$"?@?B?G:($S:JR?9M$>?$?>C:A=$L:;D?BV

JD?I$?>=G:Q<<$;=J=A$p:D:8T<D(

h"Q" 8?ACF?6EAZ>H>V>6J>V>H>?D6aZ?DHGF@AX/>NB>C@DJ[>?D6N6YBNZF?E@>c6>?VD@A[DfAFc>6@DaW@\]6B>@NaGUEDfAX]

c**]**/**]**7**]**M

Y*}},,

]*i-U<iz~*V]iRU?kd-y9x~

:]*7]:M]R-6*i-Xi-<ji9x*9*:M]7jcji9x

RUcj!iz~*?9i/79Rd9<jRV9~*QVR:jMd9X

R:]Miz~*djVRd]7*R69

="3'>C@?/3333333333333333333333333333333333333333333333333333333333333333333333_ooo`365?8/FH3UTT:3="

!>G:BC=;<=$S?JD?P;:98?G:$>?$#G:J;?L=G=K=;JD?I$?LC:JA<$B$C<Q=

GED?B?9<A=CO$!>G:BC=;<O$$[=G@==B:$[=G@=O$[=G@==B<T:3$9=IJABEfn=V

@?$;:$?J;?B:;<<$c?C?K=;<O$?$F=9=G:CH;?I$JCEKL=$>?$;:98?GE$B$JN=V

G=$JBO8<3$<;N?GP:Q<?;;MR$A=R;?C?@<I$<$P:JJ?BMR$D?PPE;<D:Q<I$,EAB(

>?JA:;?BC=;<=P$cG:B<A=CHJAB:$SF$?A$-1$P:GA:$+22)$@($q$++*/3$<P=;EV

=P?=$B$9:CH;=Ir=P$dp:D:8T<De3$<$S=@<?;:CH;:O$?Ln=JAB=;;:O$?G@:V

;<8:Q<O$d4<CH9<O$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;V

N?GP:Q<?;;MP$J>?G:Pe$ ,4YZ"7[/3$ JB<9=A=CHJAB?$ ?$ G=@<JAG:Q<<

q$-&-+'$?A$-6$N=BG:CO$+22-$@(3$BM9:;?$4C:B;MP$E>G:BC=;<=P$a<;<V

JA=GJAB:$fJA<Q<<$SF$>?$@($a?JDB=3$ B$C<Q=$>G=9J=9:A=CO$>G:BC=;<O

4?GL:;=BJD?@?$a<R:<C:$b<DA?G?B<T:3$9=IJABEfn=@?$;:$?J;?B:;<<

!JA:B:3$<P=;E=P:O$$B$9:CH;=Ir=P$d7J>?C;<A=CHe3$8:DCfT<C<$;:JA?OV

n<I$9?@?B?G$,B$9:CH;=Ir=P$]$d"?@?B?Ge/$?$;<K=JC=9Efn=P\

>,*:Mjc6jd*c]/]7]M-

-(-($7J>?C;<A=CH$?LO8E=AJO$$>G?B=JA<$9CO$>G=9JA:B<A=C=I$p:D:8T<V

D:$;:ET;M=$D?;JECHA:Q<<$>?$B?>G?J:P$;:8;:T=;<O$<$>G?B=9=;<O$JEV

9=L;MR$C<;@B<JA<T=JD<R$WDJ>=GA<8$A=DJA?B$J>?G;MR$A=DJA?B$[a7$B

D?;A=DJA=$9=OA=CH;?JA<$?G@:;?B$JC=9JAB<O$<$9?8;:;<O3$:$A:DK=$JE9?B

?Ln=I$fG<J9<DQ<<$<$:GL<AG:K;MR$JE9?B$SF(

-(+($XLn==$D?C<T=JAB?$D?;JECHA:Q<I$]$-2$,9=JOAH/($cG?9?CK<A=CHV

;?JAH$D:K9?I\$&$:D:9=P<T=JD<R$T:J:$,-*2$P<;EA/(

-(%($U:ET;M=$D?;JECHA:;AM3$?>G=9=C=;;M=$>G:BC=;<=P$SXX$4YZ"7[\

3($)*+!,%-&#.3'1P/1F3%1@D>8>?1E3 3 a$>G=9J=9:A=CH$cG:BC=V

;<O$4<CH9<<3$9=IJAB<A=CH;MI$TC=;$4<CH9<<$C<;@B<JA?BVWDJ>=GA?B$>?

9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?G:P3$9?DA?G$N<C?C?@<T=JV

D<R$;:ED3$>G?N=JJ?G3$:D:9=P<D$S_�U$,J>=Q<:CH;?JAHp3d-2(2+(2-$]$SEJV

JD<I$O8MDe^$9<>C?P$9?DA?G:$N<C?C?@<T=JD<R$;:ED$q$"#$22-22&$?A

+2(2-(-))6$@(3$JA:K$G:L?AM$>?$J>=Q<:CH;?JA<$a$%&$@?9:3$WDJ>=GA;:O$J>=V

Q<:C<8:Q<O$]$CG05L7/H3F17=?1CD1E5C@/H3X@CY58D1V//(

OQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*FQ*5JOAKLVJBCLJ*IJCAWJXKEYLL*TA*TAKZAOADCJ*[ETIABE

OR

1$+/0

)*6

-#4

%/)#&

+,

7UU 7UU$''-'--*)2*

X#_uX X#_uX$&6+)%66&222

p:D:8T<D 7J>?C;<A=CH

¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤

[([([�S4��b a(b(4XS0_U�b[#7�

a(c( a(c(

-Vd

C0&"J2NC"0";2%&*)EC(#3"33EF*021(=

_L4#L@`

="'>C@?/333333333333333333333333333333333333333333333333333333333333333333333333_ooo`31W7H33UTT:33="

aM3$;<K=>?9><J:Br<=JO$>G=9JA:B<A=C<$!>G:BC=;<O$S?JD?P;:9V

8?G:$>?$#G:J;?L=G=K=;JD?I$?LC:JA<$]$GED?B?9<A=CH$!>G:BC=;<O$$[=GV

@==B$[=G@=I$[=G@==B<T3$9=IJABEfn<I$;:$?J;?B:;<<$c?C?K=;<O$?$F=V

9=G:CH;?I$JCEKL=$>?$;:98?GE$B$JN=G=$JBO8<3$<;N?GP:Q<?;;MR$A=R;?V

C?@<I$<$P:JJ?BMR$D?PPE;<D:Q<I$,EAB($>?JA:;?BC=;<=P$cG:B<A=CHJAB:

SF$?A$-1$P:GA:$+22)$@($q$++*/3$<P=;E=PMI$B$9:CH;=Ir=P$dp:D:8T<De3$<

S=@<?;:CH;?I$?Ln=JAB=;;?I$?G@:;<8:Q<<$d4<CH9<O$C<;@B<JA?BVWDJV

>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?G:Pe$,4YZ"7[/3

JB<9=A=CHJAB?$?$G=@<JAG:Q<<$q$-&-+'$?A$-6$N=BG:CO$+22-$@(3$BM9:;?

4C:B;MP$E>G:BC=;<=P$a<;<JA=GJAB:$fJA<Q<<$SF$>?$@($a?JDB=$]$>G=9V

J=9:A=CH$>G:BC=;<O$$4?GL:;=BJD<I$a<R:<C$b<DA?G?B<T3$9=IJABEfn<I

;:$?J;?B:;<<$!JA:B:3$<P=;E=PMI$$B$9:CH;=Ir=P$d7J>?C;<A=CHe3$J?V

JA:B<C<$;:JA?On<I$ $_DA$>G<=PD<V>=G=9:T<$BM>?C;=;;MR$G:L?A$ ,EJV

CE@/$B$A?P3$TA?$]$B$J??AB=AJAB<<$J$EJC?B<OP<$"?@?B?G:$¤¤¤¤�2)$?A$¤¤¤¤

N=BG:CO$+22)$@($?$;:ET;MR$D?;JECHA:Q<OR$>?$B?>G?J:P$;:8;:T=;<O$<

>G?B=9=;<O$ JE9=L;MR$ C<;@B<JA<T=JD<R$ WDJ>=GA<8$ J>?G;MR$ A=DJA?B

[a7$B$D?;A=DJA=$9=OA=CH;?JA<$:GL<AG:K;MR$JE9?B$SF$$]$7J>?C;<V

A=CH$?JEn=JAB<C$JC=9Efn<=$G:L?AM$,EJCE@</\

$#CY>F71D5FJ3Y>3GD?58[0577>2G3CD>8>7/213=8/61@G3?3Y581>03C39T

65?8/FH3Y>3qT32/H3Y8>?5F30FH3Y850CD/?1D5F5B3^/@/VE1@/37/GE7A53@>7N

CGFJD/Q113Y>3?>Y8>C/237/V7/E571H313Y8>?50571H3CG05L7AP3F17=?1CD1E5CN

@1P3X@CY58D1V3CY>87AP3D5@CD>?3-'#3?3@>7D5@CD5305HD5FJ7>CD13>8=/N

7>?3CF50CD?1H3130>V7/71HS3/3D/@[53CG0>?3>LZ5B3W81C01@Q11313/8L1DN

8/[7AP3CG0>?3)R"3$LZ553@>F1E5CD?>3@>7CGFJD/Q1B3a39T3r05CHDJb"3O8>N

0>F[1D5FJ7>CDJ3@/[0>Bp3]3/@/0521E5C@1P3E/C/3r9gT3217GDb"

-($7J>?C;<A=CH$BM>?C;<C$JB?<$?LO8:A=CHJAB:$>?C;?JAHf3$J$;:9C=V

K:n<P$D:T=JAB?P3$B$J?@C:J?B:;;M=$JA?G?;:P<$JG?D<(

O,*RM]V*cj{Rd79x*c]/]7]M-

%(-($"?@?B?G$9=IJABE=A$J$9:AM$>?9><J:;<O$=@?$JA?G?;:P<$9?$>?CV

;?@?$<J>?C;=;<O$JA?G?;:P<$?LO8:A=CHJAB$>?$"?@?B?GE(

P,*:M]<9j*UR?]79x

$ &(-($p:$;:GEr=;<=$ JB?<R$?LO8:;;?JA=I$>?$;:JA?On=PE$"?@?B?GE

JA?G?;M$;=JEA$?AB=AJAB=;;?JAH$ J?@C:J;?$"?@?B?GE$<$9=IJABEfn=PE

@G:K9:;JD?PE$8:D?;?9:A=CHJABE(

S:8P=G$?AB=AJAB=;;?JA<$7J>?C;<A=CO$8:$?D:8:;;M=$EJCE@<$?@G:;<V

T=;$JEPP:P<$BM>C:A$7J>?C;<A=Cf$8:$BM>?C;=;<=$G:L?A3$J?JA:BCOfV

n<R$>G=9P=A$J>?G:(

&(+($$U:JA?On<I$9?@?B?G$J?JA:BC=;$B$9BER$WD8=P>COG:R$]$>?$?9;?PE

9CO$D:K9?I$JA?G?;M3$<P=fn<R$?9<;:D?BEf$fG<9<T=JDEf$J<CE(

&(%($b$?JA:CH;?P$JA?G?;M$GED?B?9JABEfAJO$@G:K9:;JD<P$8:D?;?V

9:A=CHJAB?P$SF(

&(&($78P=;=;<=�9?>?C;=;<=$EJC?B<I$"?@?B?G:$B?8P?K;?$><JHP=;V

;MP$9?>?C;<A=CH;MP$J?@C:r=;<=P$JA?G?;$D$"?@?B?GE(

&(6($[>?GM$>?$"?@?B?GE$G:8G=r:fAJO$>EA=P$>=G=@?B?G?B$JA?G?;3$:

B$JCET:=$;=9?JA<K=;<O$J?@C:J<O$]$G:JJP:AG<B:fAJO$:GL<AG:K;MP$JEV

9?P$@($a?JDBM(

+M9c9<jRV9j*-cMjR-*9

!-iV]7RV9j*MjV79X9dz*Rd]M]i

X-V-X<9VG 9R:]?i9dj?kG

:(#3("*32&J"3()23&" :(#3("*32&J"3()23&"

SXX$d4<CH9<O$C<;@B<JA?BVWDJ>=GA?B

>?$9?DEP=;A:Q<?;;MP$<

<;N?GP:Q<?;;MP$J>?G:Pe

V02='("*32&J"3()23&" V02='("*32&J"3()23&"

SXX$4YZ"7[

+0&;&%"4'&5*2;0"4G +0&;&%"4'&5*2;0"4G

-+)-1&3$a?JDB:3$EC(#<L:CHT<T:3$9(--3

D?G>(-$DB(*'

W2'=&%"4'&5*2;0"4G W2'=&%"4'&5*2;0"4G

a?JDB:3$pEL?BJD<I$LECHB:G3$9(&3

>?9s=89$[5$SF3$D(&%*

!23'()4'&"*0"')&D&=E !23'()4'&"*0"')&D&=E

#cc #cc$''-'2-22-

S�J S�J$q$&2'2%*-2+%*26222--'%

B$a:GH<;?G?n<;JD?P$?A9=C=;<<

q$')*-�2-%6+$[L=GL:;D:$S?JJ<<$X_X

#�J #�J$%2-2-*-2&22222222++6

07# 07#$2&&6+6++6

PT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-)

PS

1$+/0

)*6

-#4

%/)#&

+,

(DNEU6I"-FE>JAWFNBAF6?FB>CF@JDfAA6Z>6Z>JV>E>HBFN>E?aJ@AB>C6/>NB>C@DJ[>?D6CDEF?ADG>H6JGXZ?>HFJF@AX6YBNZF?E@>V>6GA@VHANEAWFNB>V>ANNGFJ>HD@AX

I"S"`+N@>H@\F6N>HFE\

-(lcG?B=9<A=$J?$J>=Q<:C<JA:P<VC<;@B<JA:P<$>G=9B:G<A=CH;Ef$D?;V

JECHA:Q<f3$@C:B;?I$Q=CHf$D?A?G?I$LE9=A$J:P:$B?8P?K;?JAH$>G<BC=V

T=;<O$WDJ>=GA?BVC<;@B<JA?B$9CO$:;:C<8:$J>?G;?@?$A=DJA:($ZDJ>=GA$B

JB?=I$G:L?A=$?@G:;<T=;$>G<;Q<>?P$;:C<T<O$?>G=9=C=;;?I$<$?@G:;<V

T=;;?I$ >G?Q=JJE:CH;?I$ D?P>=A=;Q<<3$ ?;$ ;=$ B>G:B=$ 9:B:AH$ ?Q=;?D3

BMR?9On<R$8:$G:PD<$=@?$>G?N=JJ<?;:CH;?I$?LC:JA<$8;:;<I3$<$>G=K9=

BJ=@?$?Q=;?D$fG<9<T=JD<R($b$WA?P$JCET:=$WDJ>=GA;M=$G:L?AM$C<L?$;=

LE9EA$>G?B=9=;M3$C<L?$>G<B=9EA$D$;EC=B?PE$G=8ECHA:AE3$>?JD?CHDE$B

A=DJA=$JB?=@?$8:DCfT=;<O$:BA?GM$LE9EA$?LO8:;M$;:><J:AH\$d":;;MI

B?>G?J$ BMR?9<A$ 8:$ >G=9=CM$ D?P>=A=;Q<<$ WDJ>=GA?BVC<;@B<JA?Be$ <3

J??AB=AJAB=;;?3$;=$9:9EA$?AB=A?B$;:$>?JA:BC=;;M=$B?>G?JM($b$T:JAV

;?JA<3$3"*&J""=*4JE4#2*J>G:r<B:AH$E$WDJ>=GA:VC<;@B<JA:\

• >G<JEAJABE=A$C<$B$A=DJA=$DC=B=A:3

• >G<JEAJABE=A$C<$B$A=DJA=$?JD?GLC=;<=3

• LMC$C<$E$:BA?G:$EPMJ=C$;:$;:;=J=;<=$D?PEVA?$?L<9M3

• ;:>G:BC=;$C<$A=DJA$B$Q=C?P$;:$9?JA<K=;<=$?>G=9=C=;;MR$Q=C=I

,;:>G<P=G3$9<JDG=9<A:Q<f$D?;DG=A;?@?$>?C<A<D:$<C<$B?8LEKV

9=;<=$;:Q<?;:CH;?I$G?8;</^

•¥ OBCO=AJO$C<$D?;DG=A;MI$A=DJA$ ,<C<$9=OA=CH;?JAH$:BA?G:$B$Q=V

C?P/$J?Q<:CH;?$BG=9;MP$<C<$?>:J;MP$<lA(l>(

c?9?L;M=$ B?>G?JM$ BMR?9OA$ 8:$ @G:;<QM$ D?P>=A=;Q<<$ WDJ>=GA:V

C<;@B<JA:3$ JBO8:;M$J$EJA:;?BC=;<=P$EPMJC:$;:$ J?B=Gr=;<=$?>G=9=V

C=;;MR$9=IJAB<I$<C<$N:DA:$ J?B=Gr=;<O$>G:B?;:GEr=;<O($_$WA?$<JV

DCfT<A=CH;?$>G:B?B:O$DB:C<N<D:Q<O(

+($p:D:8T<D$>G?<8B=C$?>C:AE$BM>?C;=;;MR$;:ET;?V<JJC=9?B:A=CHV

JD<R$G:L?A$<$G:L?A$>?$?N?GPC=;<f$8:DCfT=;<O$D?P<JJ<<$J>=Q<:C<JV

A?B$B$J?@C:J?B:;;?P$JA?G?;:P<$?Ls=P=$]$JEPP?I$B$G:8P=G=$RR(RRR$GEL(

,RR$AMJOT$RRR/$GEL(3$$BDCfT:O$U"[$R(RRR$GEL(

%($[$P?P=;A:$>?9><J:;<O$;:JA?On=@?$_DA:$JA?G?;M$;<D:D<R$>G=V

A=;8<I$>?$9?@?B?GE$9GE@$D$9GE@E$;=$<P=fA(

XA$p:D:8T<D: XA$7J>?C;<A=CO

[([([�S4��b a(b(4XS0_U�b[#7�

a(c( a(c(

Ph

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*^Q*/AKZAOADCE*WEOJILEMAD**KM_*`CBTJIOL[U

PI

1$+/0

)*6

-#4

%/)#&

+,

1(l�JC<$ WDJ>=GA:P$ 9CO$ :;:C<8:$ >G=9JA:BCOfAJO$ B<9=?P:A=G<:CM

,;:>G<P=G3$D?><O$J>?G;?I$A=C=>=G=9:T<3$JA:Br=I$>G=9P=A?P$<JD:/3$A?

>?P<P?$D:T=JAB=;;?I$B<9=?D?><<$BJ=I$>G?@G:PPM3$J?9=GK:n=I$J>?GV

;M=$BMJD:8MB:;<O3$J?JA:BCOfn<=$?Ls=DA$C<;@B<JA<T=JD?I$WDJ>=GA<V

8M$,;:$D:JJ=A=$�¦h$<C<$D?P>:DAV9<JD=3$>G?<JR?K9=;<=$D?A?G?@?$9?CV

K;?$LMAH$;:9C=K:n=$E9?JA?B=G=;?/3$J$ED:8:;<=P$A?T;?I$9:AM$BMR?9:

9:;;?I$A=C=>=G=9:T<$B$WN<G3$9?CK=;$LMAH$>G=9JA:BC=;$<$>G?N=JJ<?V

;:CH;?$BM>?C;=;;MI$?N<Q<:CH;?$8:B=G=;;MI$A=DJA$G:Jr<NG?BD<$A=V

C=>=G=9:T<$,B$B<9=$G:J>=T:AD<^$K=C:A=CH;?lA:DK=$>G=9JA:BC=;<=$D?PV

>HfA=G;?@?$A=DJA?B?@?$N:IC:/($ZA?$>?C?K=;<=$G:J>G?JAG:;O=AJO$<$;:

WDJ>=GA<8E$A=DJA?B3$>G?8BET:Br<R$B$G:9<?>=G=9:T:R$ ,B$ WA?P$JCET:=

BP=JA=$J$G:J>=T:AD?I$A=DJA:$?LO8:A=CH;?$>G=9JA:BCO=AJO$:E9<?D:JJ=V

A:$ J$ 8:><JHf$G:9<?>=G=9:T</($!JA:;?BC=;<=$9?JC?B;?@?$J?9=GK:;<O

A=C=V$<C<$G:9<?>=G=9:T<$P?K;?$>?GET<AH$WDJ>=GA:PVC<;@B<JA:P(

'(l�JC<$?Ls=DA?P$:;:C<8:$OBCOfAJO$A=DJAM3$?>ELC<D?B:;;M=$B$J=A<

7;A=G;=A3$A?$WDJ>=GA:P$9CO$:;:C<8:$>G=9JA:BCO=AJO$G:J>=T:AD:$D?;V

A=;A:$,J?9=GK:;<O/$<;A=G;=AVJ:IA:3$D?A?G:O$9?CK;:$LMAH$?N<Q<:CHV

;?$8:B=G=;:(

*(l[C=9E=A$>?P;<AH3$TA?$A?CHD?$>?JC=$8:B=Gr=;<O$>G?B=9=;<O$WDV

J>=GA<8M$<$?N?GPC=;<O$><JHP=;;?@?$8:DCfT=;<O$,B$JCET:=$;=?LR?9<V

P?JA<$>?OJ;=;<O$==$>?C?K=;<I$<C<$BMB?9?B/$WDJ>=GA$P?K=A$LMAH$9?>V

G?r=;$9?8;:B:A=C=P3$JC=9?B:A=C=P3$>G?DEG?G?P$<C<$JE9?P(

)(l"CO$J?9=IJAB<O$JC=9?B:A=Cf$<C<$JE9E$B$?Q=;D=$8:DCfT=;<O$WDJV

>=GA:$<C<$>?JA:;?BD=$B?>G?J?B$WDJ>=GAE$>G<$=@?$9?>G?J=$ ,>G?B=GD=

>?C;?AM3$;:ET;?I$?L?J;?B:;;?JA<$<$>G:B<CH;?JA<$BMB?9?B/$K=C:A=CHV

;?$>G<BC=D:AH$DB:C<N<Q<G?B:;;MR$<$;:<L?C==$?>MA;MR$J>=Q<:C<JV

A?B3$?JEn=JABCOfn<R$>G?B=9=;<=$C<;@B<JA<T=JD<R$WDJ>=GA<8$;=$P=V

;==$6$C=A3$:$A:DK=$?LC:9:fn<R$?>MA?P$ET:JA<O$B$JE9=L;MR$8:J=9:;<V

OR3$@9=$G:JJP:AG<B:fAJO$G=8ECHA:AM$G:L?AM$WDJ>=GA?B(

-2(lZD?;?PO$9?G?@?=$BG=PO$J>=Q<:C<JA?BVC<;@B<JA?B3$:$A:DK=$JB?=

BG=PO3$>=G=9$>=GB?I$D?;JECHA:Q<=I$J$;<P<$>?J=A<A=$B=LVJ:IA$4YZ"7[

B$J=A<$7;A=G;=A$]$���(xz{}�y}x�(xz($b$Q=C?P$GO9=$G:89=C?B$WA?@?$J?V

9=GK:A=CH;?@?$ J:IA:3$ B$ >G<B=9=;;MR$ ;:$ ;=P$ D?;DG=A;MR$ >G<P=G:R

A=DJA?B$<JJC=9?B:;<I$<$WDJ>=GA;MR$8:DCfT=;<I$,<C<$8:DCfT=;<I$J>=V

Q<:C<JA?B/3$B$JA:AHOR$<$D?PP=;A:G<OR$J>=Q<:C<JA?B3$:$A:DK=$B$WC=DAV

G?;;MR$ B=GJ<OR$ >G=9JA:BC=;;MR$ ;:$ 9:;;?P$ J:IA=$ ;=JD?CHD<R$ D;<@

4YZ"7[$BM$;=>G=P=;;?$;:I9=A=$?AB=AM$;:$L?CHr<;JAB?$<;A=G=JEfV

n<R$B:J$B?>G?J?B(

--(lU=$ 8:LE9HA=3$ TA?$ >G:B?P$ ;:$ >G=9B:G<A=CH;MI$ 8:>G?J$ ?$ B?8V

P?K;?JA<$>G?B=9=;<O$C<;@B<JA<T=JD?I$WDJ>=GA<8M$J>?G;?@?$A=DJA:

,JC?B?J?T=A:;<O3$JC?B:$<$A(9(/$?LC:9:fA$CfLM=$fG<9<T=JD<=$<$N<8<V

T=JD<=$C<Q:l]$?A$ JE9?B3$ JC=9JAB=;;MR$?G@:;?B3$ :9B?D:AJD<R$D?;A?G3

G=9:DQ<I$[a73$:9B?D:A?B$<$fG<JD?;JECHA?B$9?$GO9?BMR$@G:K9:;(

b:K;?$>?9T=GD;EAH3$TA?$B$R?9=$>=GB?I$D?;JECHA:Q<<$<$>G=9B:G<V

A=CH;?@?$:;:C<8:$>G=9JA:BC=;;MR$A=DJA?B$BM$P?K=A=$>?CET<AH$A:DK=

<$;=D?A?G?=$>G=9JA:BC=;<=$?$JE9=L;MR$>=GJ>=DA<B:R$<;A=G=JEfn=@?

B:J$9=C:$,J>?G:3$D?;NC<DA:$<$A(>(/(

+(lc=G=9$;:8;:T=;<=P$WDJ>=GA<8M$>G?D?;JECHA<GEIA=JH$J?$J>=Q<:V

C<JA:P<VC<;@B<JA:P<$>?$BJ=P$N?GPEC<G?BD:P$B?>G?J?B$WDJ>=GAE$,WDV

J>=GA:P/3$A:D$D:D$?A$A?T;?JA<$N?GPEC<G?B?D$B?>G?J?B$;=G=9D?$8:B<V

J<A$9=IJAB=;;?JAH$WDJ>=GA;?@?$8:DCfT=;<O$9CO$Q=C=I$<JD:$,J>?G:/(

%(lcG<$?LG:n=;<<$D$;=@?JE9:GJAB=;;?PE$WDJ>=GAEVC<;@B<JAE$G=D?V

P=;9E=AJO$>G?B=G<AH$=@?$D?P>=A=;Q<f$<$DB:C<N<D:Q<f\$?LG:8?B:;<=3

;:C<T<=$ET=;MR$JA=>=;=I$<$ET=;MR$8B:;<I3$>ELC<D:Q<I$>?$9:;;?I$;:V

ET;?I$>G?LC=P:A<D=3$:$@#2)3("l]$?>MA$WDJ>=GA;?I$G:L?AM$>?$9:;;?I

WDJ>=GA;?I$J>=Q<:C<8:Q<<$,?>MA$>G?B=9=;<O$WDJ>=GA<8$9:;;?@?$G?9:/

<$ ,B$<9=:C=/$;:C<T<=$ J??AB=AJABEfn=@?$9?DEP=;A:CH;?@?$>?9AB=GKV

9=;<O$ =@?$ WDJ>=GA;?I$DB:C<N<D:Q<<$ ,E9?JA?B=G=;<O3$ JB<9=A=CHJAB:3

G:8G=r=;<O3$9?>EJD:/(

&(l�JC<$B$R?9=$>G=9B:G<A=CH;?I$D?;JECHA:Q<<$BM$>?CET<C<$G=D?P=;V

9:Q<f$>?$;:8;:T=;<f$D?P<JJ<?;;?I$WDJ>=GA<8M3$D$D?A?G?I$9?CK;?

LMAH$>G<BC=T=;?$;=JD?CHD?$J>=Q<:C<JA?B3$;:JA?OA=CH;?$G=D?P=;9E=AV

JO$D$WA?I$G=D?P=;9:Q<<$>G<JCEr:AHJO($ZA?$>?8B?C<A$<8L=K:AH$JELs=DV

A<B<8P:$WDJ>=GA;MR$?Q=;?D3$?AG:K:fn<RJO$B$BMB?9:R$WDJ>=GA<8M(

b$?AC<T<=$?A$9:DA<C?JD?><T=JD?I3$AG:J?C?@<T=JD?I3$JE9=L;?VA=RV

;<T=JD?I$<$<;MR$WDJ>=GA<8$JE9=L;:O$C<;@B<JA<T=JD:O$WDJ>=GA<8:$<P=V

=A$9=C?$J$?J?LMP$?Ls=DA?Pl]$O8MD?P$<$ ,8:$<JDCfT=;<=P$N?;?JD?><V

T=JD?I$WDJ>=GA<8M$8BET:n=I$G=T</3$D:D$>G:B<C?3$;=$<J>?CH8E=A$B?8V

P?K;?JA=I3$>G=9?JA:BCO=PMR$J>=Q<:CH;?I$:>>:G:AEG?I3$<8P=G<A=CHV

;MP<$<;JAGEP=;A:P<$<$A(l9($b$JBO8<$J$WA<P$<JJC=9?B:;<=$J>?G;MR$A=DV

JA?B$D?P<JJ<=I$WDJ>=GA?B$JEn=JAB=;;?$>?BMr:=A$;:9=K;?JAH$G=8ECHV

A:A?B$<$?Ls=DA<B;?JAH$BMB?9?B3$>G=9JA:BC=;;MR$B$WDJ>=GA;?P$8:DCfV

T=;<<(

b:K;?$ 8:P=A<AH$ A:DK=3$ TA?$ D?P<JJ<?;;MI$ R:G:DA=G$ WDJ>=GA<8M

JEn=JAB=;;?$ EP=;Hr:=A$ G<JD$ ?G@:;<8:Q<<$ 9:BC=;<O$ ;:$ WDJ>=GA:$ J?

JA?G?;M$D:D<RVC<L?$8:<;A=G=J?B:;;MR$C<Q($cG?B=9=;<=$<P=;;?$D?V

P<JJ<?;;?I$WDJ>=GA<8M$;=G=9D?$OBCO=AJO$;=?LR?9<PMP$>?$ J>?G;MP

A=DJA:P$[a7$B$@G:K9:;JD<R$9=C:R$?$8:n<A=$T=JA<3$9?JA?<;JAB:$<$9=V

C?B?I$G=>EA:Q<<^$B$E@?C?B;MR$9=C:Rl]$>?$?LB<;=;<f$B$DC=B=A=3$?JD?GV

LC=;<<3$B$JC?B=J;?P$WDJAG=P<8P=(

6(l7;<Q<:A?GM$;:8;:T=;<O$C<;@B<JA<T=JD?@?$<JJC=9?B:;<O$9?CKV

;M$>G=9JA:B<AH$J>=Q<:C<JA:P$P:DJ<P:CH;?$>?C;MI$>:D=A$P:A=G<:C?B3

BDCfT:fn<R$;=$A?CHD?$J:P<$J>?G;M=$A=DJAM$,B$?G<@<;:C=$<C<$B$B<9=

8:B=G=;;MR$DJ=G?D?><I/$<$J><J?D$B?>G?J?B$WDJ>=GA:P3$;?$<$><JHP=;V

;M=$P:A=G<:CM3$?AG:K:fn<=$>?8<Q<<$BJ=R$8:<;A=G=J?B:;;MR$JA?G?;

>?$JEn=JABE$D?;NC<DA:3$=JC<$A:D<=$P:A=G<:CM$<P=fAJO(

PL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*^Q*/AKZAOADCE*WEOJILEMAD**KM_*`CBTJIOL[U

PM

1$+/0

)*6

-#4

%/)#&

+,

9=rH$=n=$A=G>=AH$L=J>G=9=C$D:BD:8JD?I$;:GD?P:N<<$B$;:r=P$DG:=�e

8:$>?9><JHf$U:A:CH<$U:A:CH<;?I$,AB?GT=JD<I$>J=B9?;<P$_C=DJ:;9V

G?B?I$_C=DJ:;9GM$_C=DJ:;9G?B;M/$B$@:8=A=$d#G:J;?L=G=K=;JD<I$GEV

L=Ke$,q$¤¤¤¤$?A$+)$¤¤¤¤¤¤¤$+22)$@?9:/3$8:G=@<JAG<G?B:;;?I$B$#G:J;?V

L=G=K=;JD?P$A=GG<A?G<:CH;?P$E>G:BC=;<<$a<;<JA=GJAB:$SF$>?$9=V

C:P$ >=T:A<3$ A=C=G:9<?B=n:;<O$ <$ JG=9JAB$ P:JJ?BMR$ D?PPE;<D:Q<I3

JB<9=A=CHJAB?$c7$q$RRVRRRR$?A$RR(RR(+22%$@($,ETG=9<A=CH$@:8=AM$]$XXX

dS=DC:P:$ ]$ 0<8;=J$ B$ #G:J;?L=G=K=;JD=e^$ @($ #G:J;?L=G=K=;JD3$ >GVA

a:GDJ:3$ 9(-�-/$ ]$ ;:$>G=9P=A$ ?>G=9=C=;<O$ ;:C<T<O$ <C<$ ?AJEAJAB<O$ B

9:;;?I$ JA:AH=$ JC?B3$ JC?B?J?T=A:;<I$ <C<$ <;MR$ D?P>?;=;A?B$ A=DJA:3

D?A?GM=$P?@EA$LMAH$DB:C<N<Q<G?B:;M$D:D$$;=JEn<=$WDJAG=P<JAJD?=

J?9=GK:;<=3$B?8LEK9:fn<=$;:Q<?;:CH;Ef$BG:K9E$<$BJC=9JAB<=$WA?V

@?$>G?A<B?G=T:n<=$F=9=G:CH;?PE$8:D?;E$SF$?A$+6(2'(+22+$@($q$--&VFp

dX$>G?A<B?9=IJAB<<$WDJAG=P<JAJD?I$9=OA=CH;?JA<e(

$$-(+($"CO$>G?B=9=;<O$;=?LR?9<PMR$;:ET;?V<JJC=9?B:A=CHJD<R$G:V

L?A$7J>?C;<A=CH$?LG:8E=A$D?P<JJ<f$J>=Q<:C<JA?BVC<;@B<JA?B$B$ J?V

JA:B=$AGoR$9=IJAB<A=CH;MR$TC=;?B$4<CH9<<$]$9?DA?G?B$ ,D:;9<9:A?B/

N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G?B$,9?Q=;A?B/(

-(%($[><J?D$D?;DG=A;MR$B?>G?J?B$9CO$>?JA:;?BD<$>=G=9$TC=;:P<

D?P<JJ<<$ N?GP<GE=AJO$ JA?G?;:P<$ ;:$ ?J;?B=$ ;:ET;?VP=A?9<T=JD<R

G=D?P=;9:Q<I$ 4YZ"7[3$ >G=9JA:BC=;;MR$ B$ >?J?L<<$ 4<CH9<<$ d#:D

>G?B=JA<$ C<;@B<JA<T=JDEf$ WDJ>=GA<8E$ J>?G;?@?$ A=DJA:�e$ ,>?9$ G=9(

>G?N($a(b($4?GL:;=BJD?@?($]$a(\$`G<9<T=JD<I$a<G3$+221/$<$B$D;<@=

TC=;:$>G:BC=;<O$4YZ"7[$�(7(4:COr<;?I$dY<;@B<JA<D:$>G?A<B$WDV

JAG=P<8P:\$b$>?P?nH$JE9HOP3$JC=9?B:A=COP3$WDJ>=GA:Pe$,>?9$G=9($>G?N(

a(b($4?GL:;=BJD?@?($]$a(\$`G<9<T=JD<I$a<G3$+221/(

-(&($p:D:8T<D$?LO8E=AJO$?>C:A<AH$>G?B=9=;<=$ED:8:;;MR$BMr=$;:V

ET;?V<JJC=9?B:A=CHJD<R$WDJ>=GA;MR$G:L?A$<$?N?GPC=;<=$?N<Q<:CHV

;?@?$ 8:DCfT=;<O$ D?P<JJ<<$ J>=Q<:C<JA?B$ JEPP?I$ B$ G:8P=G=$ 61(1&2

,cOAH9=JOA$r=JAH$AMJOT$r=JAHJ?A$J?G?D/$GEL($BDCfT:O$$*(1&2$GEL($U"[(

cG=9?>C:A:$]$-22�(

-(6($7J>?C;<A=CH$?LO8E=AJO$ 8:B=Gr<AH$BM>?C;=;<=$;=?LR?9<PMR

;:ET;?V<JJC=9?B:A=CHJD<R$G:L?A$B$JG?D$;=$L?C==$%2$D:C=;9:G;MR$9;=I3

>G<$WA?P$9;oP$;:T:C:$G:L?A$JT<A:=AJO$9:A:$>?JAE>C=;<O$>G=9?>C:AM3

?JEn=JABC=;;?I$p:D:8T<D?P3$;:$L:;D?BJD<I$JT=A$7J>?C;<A=CO(

-(1($[A?G?;M$9=IJABEfA$;:$?J;?B:;<<$JA(JA($'')V'*%$4#$SF(

I,*:]Mxc]V*]W]M6?ji9x.*Rc-<9N:M9j6-*9

]:?-dz*M-!]d

+(-($XD?;T:;<=$>G?B=9=;<O$WDJ>=GA<8M$>?$"?@?B?GE$?N?GPCO=AJO

JA?G?;:P<$:DA?P$J9:T<V>G<=P:$G:L?A$ B$A=T=;<=$9BER$ ,9BER/$9;=I$J?

9;O$>?CET=;<O$p:D:8T<D?P$?N<Q<:CH;?@?$8:DCfT=;<O$D?P<JJ<<$J>=V

Q<:C<JA?B(

-+($"CO$>G?B=9=;<O$;=?LR?9<PMR$WDJ>=GA;MR$,<JJC=9?B:A=CHJD<R/

G:L?A$B:P$;=?LR?9<P?$8:DCfT<AH$ J$ WDJ>=GA;?I$?G@:;<8:Q<=I$9?@?V

B?G$?$B?8P=89;?P$?D:8:;<<$EJCE@$,9?@?B?G$>?9GO9:/$;:$?J;?B:;<<$4#

SF$<$J$B?8P?K;MP$<J>?CH8?B:;<=P$A<>?B?@?$9?@?B?G:$,JP($G:89=C$%(+/(

cG=9B:G<A=CH;?$B:P$>G=9JA?<A$?LJE9<AH$J$GED?B?9<A=COP<$WDJ>=GAV

;?I$ ?G@:;<8:Q<<$ ;=$ A?CHD?$ J:PE$ B?8P?K;?JAH$ <$ Q=C=J??LG:8;?JAH

>G?B=9=;<O$9:;;?@?$<JJC=9?B:;<O3$;?$<$BJ=$D?;DG=A;M=$>E;DAM$9?@?V

B?G:\$ J?JA:B$ D?P<JJ<<$ J>=Q<:C<JA?BVC<;@B<JA?B3$ J><J?D$ B?>G?J?B3

D?A?GM=$LE9EA$>=G=9$;<P<$>?JA:BC=;M$,B$GO9=$JCET:=B$?;?$B;?J<AJO

;=>?JG=9JAB=;;?$B$A=DJA$9?@?B?G:$<C<$?N?GPCO=AJO$D:D$>G<C?K=;<=$D

;=PE/3$JG?D<$<$JA?<P?JAH$G:L?A($[C=9E=A$<P=AH$B$B<9E3$TA?$N<DJ<G?V

B:;;MR$G:JQ=;?D$;:$?>C:AE$WDJ>=GA;MR$G:L?A$;=$JEn=JABE=A\$B$D:KV

9?P$D?;DG=A;?P$JCET:=$?;<$LE9EA$8:B<J=AH$?A$JC?K;?JA<$<JJC=9E=P?V

@?$P:A=G<:C:3$=@?$?Ls=P:$<$JA=>=;<$JG?T;?JA<$<JJC=9?B:;<O(

I"h" 8?ACF?6EAZ>H>V>6J>V>H>?D6aZ?DHGF@AX/>NB>C@DJ[>?D6N6YBNZF?E@>c6>?VD@A[DfAFc

c**]**/**]**7**]**M

Y*��lT[

]*:M]7jcji99*V]69RR9]ii]/]

?9i/79Rd9<jRV]/]*9RR?jc]7-i9x

R:]Mi]/]*djVRd-*/-Xjdi]{*Rd-dk9

@($a?JDB: d¤¤e$;?OLGO$$+22)$@(

!>G:BC=;<=$S?JD?P;:98?G:$>?$#G:J;?L=G=K=;JD?I$?LC:JA<$B$C<Q=

GED?B?9<A=CO$!>G:BC=;<O$$[=G@==B:$[=G@=O$[=G@==B<T:3$9=IJABEfn=V

@?$;:$?J;?B:;<<$c?C?K=;<O$?$F=9=G:CH;?I$JCEKL=$>?$;:98?GE$B$JN=V

G=$JBO8<3$<;N?GP:Q<?;;MR$A=R;?C?@<I$<$P:JJ?BMR$D?PPE;<D:Q<I$,EAB(

>?JA:;?BC=;<=P$cG:B<A=CHJAB:$SF$?A$-1$P:GA:$+22)$@($q$++*/3$<P=;EV

=P?=$B$9:CH;=Ir=P$dp:D:8T<De3$<$S=@<?;:CH;:O$?Ln=JAB=;;:O$?G@:V

;<8:Q<O$d4<CH9<O$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;V

N?GP:Q<?;;MP$J>?G:Pe$,4YZ"7[/3$JB<9=A=CHJAB?$?$G=@<JAG:Q<<$q

-&-+'$?A$-6$N=BG:CO$+22-$@(3$BM9:;?$4C:B;MP$E>G:BC=;<=P$a<;<JA=GV

JAB:$fJA<Q<<$SF$>?$@($a?JDB=3$B$C<Q=$>G=9J=9:A=CO$>G:BC=;<O$$4?GL:V

;=BJD?@?$a<R:<C:$b<DA?G?B<T:3$9=IJABEfn=@?$;:$?J;?B:;<<$!JA:B:3

<P=;E=P:O$$B$9:CH;=Ir=P$d7J>?C;<A=CHe3$8:DCfT<C<$;:JA?On<I$9?V

@?B?G$,B$9:CH;=Ir=P$]$d"?@?B?Ge/$?$;<K=JC=9Efn=P\

>,*:Mjc6jd*c]/]7]M-

-(-($7J>?C;<A=CH$?LO8E=AJO$$>G?B=JA<$D?P<JJ<?;;?=$C<;@B<JA<T=JV

D?=$<JJC=9?B:;<=$A=DJA:$ JA:AH<$dcG?J;<JH3$ 8=PCOD�$[D?CHD?$AM$LEV

PO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*^Q*/AKZAOADCE*WEOJILEMAD**KM_*`CBTJIOL[U

PP

1$+/0

)*6

-#4

%/)#&

+,

S�J S�J$q$&2'2%*-2+%*26222--'%

B$a:GH<;?G?n<;JD?P$?A9=C=;<<

q$')*-�2-%6+$[L=GL:;D:$S?JJ<<$X_X

#�J #�J$%2-2-*-2&22222222++6

07# 07#$2&&6+6++6

7UU 7UU$''-'--*)2*

X#_uX X#_uX$&6+)%66&222

p:D:8T<D 7J>?C;<A=CH

¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤

[([([�S4��b a(b(4XS0_U�b[#7�

a(c( a(c(

-Vd

C0&"J2NC"0";2%&*)EC(#3"33EF*021(=

_L4#L@`

@($a?JDB: d¤¤e$9=D:LGO$$+22)$@(

aM3$;<K=>?9><J:Br<=JO$>G=9JA:B<A=C<$!>G:BC=;<O$S?JD?P;:9V

8?G:$>?$#G:J;?L=G=K=;JD?I$?LC:JA<$B$C<Q=$GED?B?9<A=CO$!>G:BC=V

;<O$$[=G@==B:$[=G@=O$[=G@==B<T:3$9=IJABEfn=@?$;:$?J;?B:;<<$c?C?V

K=;<O$?$F=9=G:CH;?I$JCEKL=$>?$;:98?GE$B$JN=G=$JBO8<3$<;N?GP:Q<?;V

;MR$A=R;?C?@<I$<$P:JJ?BMR$D?PPE;<D:Q<I$,EAB($>?JA:;?BC=;<=P$cG:V

B<A=CHJAB:$SF$?A$-1$P:GA:$+22)$@($q$++*/3$<P=;E=P?@?$B$9:CH;=Ir=P

dp:D:8T<De3$ <$ S=@<?;:CH;?I$ ?Ln=JAB=;;?I$ ?G@:;<8:Q<<$ d4<CH9<O

C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?V

G:Pe$,4YZ"7[/3$JB<9=A=CHJAB?$?$G=@<JAG:Q<<$q$-&-+'$?A$-6$N=BG:CO

+22-$@(3$BM9:;?$4C:B;MP$E>G:BC=;<=P$a<;<JA=GJAB:$fJA<Q<<$SF$>?

@($a?JDB=3$B$C<Q=$>G=9J=9:A=CO$>G:BC=;<O$ $4?GL:;=BJD?@?$a<R:<C:

b<DA?G?B<T:3$9=IJABEfn=@?$;:$?J;?B:;<<$!JA:B:3$<P=;E=P:O$$B$9:CHV

;=Ir=P$d7J>?C;<A=CHe3$ J?JA:B<C<$;:JA?On<I$ $_DA$>G<=PD<V>=G=9:V

T<$BM>?C;=;;MR$G:L?A$,EJCE@/$B$A?P3$TA?$]$B$J??AB=AJAB<<$J$EJC?B<OV

P<$"?@?B?G:$?$>G?B=9=;<<$D?P<JJ<?;;?@?$C<;@B<JA<T=JD?@?$<JJC=V

9?B:;<O$J>?G;?@?$A=DJA:$@:8=A;?I$JA:AH<$ ,q$¤¤�2)$?A$¤¤(--(+22)$@($]

7J>?C;<A=CH$?JEn=JAB<C$JC=9Efn<=$G:L?AM$,EJCE@</\

O8>?5057153C1F/213D85P305BCD?1D5FJ7AP3EF57>?3(1FJ011S3a30>@D>N

8>?3r@/7010/D>?b361F>F>=1E5C@1P37/G@S3Y8>65CC>8>?3r0>Q57D>?bS3@>21CN

C1>77>=>3 F17=?1CD1E5C@>=>3 1CCF50>?/71H3 D5@CD/3 CD/DJ13 _O8>C71CJS

V52FH@h3-@>FJ@>3DA3LG05IJ35Z53D58Y5DJ3L5CY8505F3@/?@/VC@>B37/8@>N

2/6113?37/I523@8/5s`3V/3Y>0Y1CJW3!/D/FJ13!/D/FJ17>B3rD?>8E5C@1B

YC5?0>7123+F5@C/708>?>B3+F5@C/708A3+F5@C/708>?7Ab3?3=/V5D53_&8/CN

+(+($S:L?AM$>?$>G?B=9=;<f$WDJ>=GA<8M$?>C:T<B:fAJO$:B:;J?P$B

G:8P=G=$-22�$JEPPM$"?@?B?G:($S:JR?9M$>?$?>C:A=$L:;D?BJD?I$?>=G:V

Q<<$;=J=A$p:D:8T<D(

O,*RM]V*cj{Rd79x*c]/]7]M-

%(-($"?@?B?G$9=IJABE=A$J$9:AM$>?9><J:;<O$=@?$JA?G?;:P<$9?$>?CV

;?@?$<J>?C;=;<O$JA?G?;:P<$?LO8:A=CHJAB$>?$"?@?B?GE(

P,*:M]<9j*UR?]79x

&(-($ p:$ ;:GEr=;<=$ JB?<R$ ?LO8:;;?JA=I$ >?$ ;:JA?On=PE$ "?@?B?GE

JA?G?;M$;=JEA$?AB=AJAB=;;?JAH$ J?@C:J;?$"?@?B?GE$<$9=IJABEfn=PE

@G:K9:;JD?PE$8:D?;?9:A=CHJABE(

S:8P=G$?AB=AJAB=;;?JA<$7J>?C;<A=CO$8:$?D:8:;;M=$EJCE@<$?@G:;<V

T=;$JEPP:P<$BM>C:A$7J>?C;<A=Cf$8:$BM>?C;=;<=$G:L?A3$J?JA:BCOfV

n<R$>G=9P=A$J>?G:(

&(+($$U:JA?On<I$9?@?B?G$J?JA:BC=;$B$9BER$WD8=P>COG:R$V$>?$?9;?PE

9CO$D:K9?I$JA?G?;M3$<P=fn<R$?9<;:D?BEf$fG<9<T=JDEf$J<CE(

&(%($b$?JA:CH;?P$JA?G?;M$GED?B?9JABEfAJO$@G:K9:;JD<P$8:D?;?V

9:A=CHJAB?P$SF(

&(&($78P=;=;<=�9?>?C;=;<=$EJC?B<I$"?@?B?G:$B?8P?K;?$><JHP=;V

;MP$9?>?C;<A=CH;MP$J?@C:r=;<=P$JA?G?;$D$"?@?B?GE(

&(6($[>?GM$>?$"?@?B?GE$G:8G=r:fAJO$>EA=P$>=G=@?B?G?B$JA?G?;3$:

B$ JCET:=$ ;=9?JA<K=;<O$ J?@C:J<O$ �$ G:JJP:AG<B:fAJO$ :GL<AG:K;MP

JE9?P$@($$a?JDBM(

+M9c9<jRV9j*-cMjR-*9

!-iV]7RV9j*MjV79X9dz*Rd]M]i

X-V-X<9VG 9R:]?i9dj?kG

:(#3("*32&J"3()23&" :(#3("*32&J"3()23&"

SXX$d4<CH9<O$C<;@B<JA?BVWDJ>=GA?B

>?$9?DEP=;A:Q<?;;MP$<

<;N?GP:Q<?;;MP$J>?G:Pe

V02='("*32&J"3()23&" V02='("*32&J"3()23&"

SXX$4YZ"7[

+0&;&%"4'&5*2;0"4G +0&;&%"4'&5*2;0"4G

-+)-1&3$a?JDB:3$EC(#<L:CHT<T:$9(--(

D?G>(-$DB(*'

W2'=&%"4'&5*2;0"4G W2'=&%"4'&5*2;0"4G

a?JDB:3$pEL?BJD<I$LECHB:G3$9(&3

>?9s=89$[5$SF3$D(&%*

!23'()4'&"*0"')&D&=E !23'()4'&"*0"')&D&=E

#cc #cc$''-'2-22-

PQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-)

PR

1$+/0

)*6

-#4

%/)#&

+,

(DNEU6L"9BNZF?E@\F6GA@VHANEAWFNBAF6ANNGFJ>HD@AXNZ>?@\]6EFBNE>H61-)6Z>6NE"6hQTm6hQh6l*6/dA6d:6n6SSL6/d

L"S"` <D?DBEF?ANEABD6YBNZF?EA[6Z>6JD@@>cBDEFV>?AA6JFG

"=IJABEfn==$G?JJ<IJD?=$ 8:D?;?9:A=CHJAB?$EJA:;:BC<B:=A$ 8:>G=A

;:$CfLEf$9<JDG<P<;:Q<f($b$J??AB=AJAB<<$J?$JA($+)$#?;JA<AEQ<<$SF

;=$9?>EJD:fAJO$>G?>:@:;9:$<C<$:@<A:Q<O3$B?8LEK9:fn<=$J?Q<:CH;Ef3

G:J?BEf3$;:Q<?;:CH;Ef$<C<$G=C<@<?8;Ef$;=;:B<JAH$<$BG:K9E($p:>G=V

n:=AJO$ >G?>:@:;9:$ J?Q<:CH;?@?3$ G:J?B?@?3$ ;:Q<?;:CH;?@?3$ G=C<@<V

?8;?@?$<C<$O8MD?B?@?$>G=B?JR?9JAB:($[?@C:J;?$JA($ &$p:D?;:$SF$dX

JG=9JAB:R$ P:JJ?B?I$ <;N?GP:Q<<e3$ ;=$ 9?>EJD:=AJO$ <J>?CH8?B:;<=

JG=9JAB$P:JJ?B?I$<;N?GP:Q<<$B$Q=COR$G:8K<@:;<O$;:Q<?;:CH;?I3$DC:JV

J?B?I3$ J?Q<:CH;?I3$ G=C<@<?8;?I$ ;=A=G><P?JA<$ <C<$ G?8;<($ b$ JA($ -)

#?;JA<AEQ<<$SF$8:DG=>CO=AJO$>G<;Q<>$G:B=;JAB:$<$:LJ?CfA;MI$8:>V

G=A$;:$CfLEf$N?GPE$9<JDG<P<;:Q<<3$B$JA($+)$#?;JA<AEQ<<$SF$@:G:;V

A<GE=AJO$JB?L?9:$PMJC<$<$JC?B:(

#?;JA<AEQ<?;;M=$Q=;;?JA<$;=G=9D?$D?;NC<DAEfA$P=K9E$J?L?I3$;?

;=8MLC=PMP$>G<;Q<>?P$OBCO=AJO$>?C?K=;<=$?$A?P3$TA?$@:G:;A<<$>G:B

<$JB?L?9$?9;<R$Cf9=I$;=$9?CK;M$?@G:;<T<B:AH$>G:B:$<$JB?L?9M$9GEV

@<R($U<DA?$;=$B>G:B=3$J>=DEC<GEO$JB?L?9?I$EL=K9=;<I3$JC?B:3$BMG:V

K=;<O$P;=;<I$<$?Q=;?D3$>?9:B:AH$DJ=;?N?LJD<=$<$>?9JAG=D:A=CHJD<=

P:A=G<:CM$>?9$B<9?P$BMG:K=;<O$B$;<R$>:AG<?A<T=JD<R$<9=I$<$EL=KV

9=;<I$J$LC:@?G?9;MP<$Q=COP<(

[C?B=J;MI$WDJAG=P<8P3$WDJAG=P<JAJD<=$BMJD:8MB:;<O3$?8BET=;;M=

<$ ;:>=T:A:;;M=$ B$ JG=9JAB:R$ P:JJ?B?I$ <;N?GP:Q<<l]$ B$ >=T:A<3$ ;:

A=C=B<9=;<<3$B$7;A=G;=A=$<$A(9(3$;=JEA$B$J=L=$?@G?P;Ef$?Ln=JAB=;;Ef

?>:J;?JAH($b$A?$K=$BG=PO$D$WA?I$>G?LC=P=$JC=9E=A$>?9R?9<AH$J$?J?L?I

?JA?G?K;?JAHf($b:K;:O$>G<T<;:3$8:JA:BCOfn:O$BJ>?P;<AH$?L$?JA?V

7>L585[57C@1B38GL5[`3rd3oooo3>D3U:37>HL8H3UTT:3=>0/bS3V/85=1CD81N

8>?/77>B3?3&8/C7>L585[57C@>23D5881D>81/FJ7>23GY8/?F57113'171CD58N

CD?/3)R3Y>305F/23Y5E/D1S3D5F58/01>?5Z/71H313C850CD?32/CC>?AP3@>2N

2G71@/Q1BS3 C?105D5FJCD?>3 O#3 d3 PPNPPPP3 >D3 PP"PP"UTTq3 ="3 rGE8501N

D5FJ3=/V5DA3a3$$$3_3_)5@F/2/3a3*1V75C3?3&8/C7>L585[57C@5`t3="3&8/CN

7>L585[57C@S3 Y8ND3 '/8@C/S3 0"9e9b3 a3 7/3 Y85025D3 >Y8505F571H3 7/F1E1H

1F13>DCGDCD?1H3?30/77>B3CD/DJ53CF>?S3CF>?>C>E5D/71B31F1317AP3@>2Y>N

757D>?3D5@CD/S3@>D>8A532>=GD3LADJ3@?/F161Q18>?/7A3@/@3 375CGZ15

X@CD8521CDC@>53 C>058[/715S3 ?>VLG[0/WZ1537/Q1>7/FJ7GW3?8/[0G31

?CF50CD?153 XD>=>3 Y8>D1?>85E/Z153 R5058/FJ7>2G3 V/@>7G3 )R3 >D

U;"Tf"UTTU3="3d399]NR^3_$3Y8>D1?>05BCD?113X@CD8521CDC@>B305HD5FJN

7>CD1`"

-($7J>?C;<A=CH$BM>?C;<C$JB?<$?LO8:A=CHJAB:$>?C;?JAHf3$J$;:9C=V

K:n<P$D:T=JAB?P3$B$J?@C:J?B:;;M=$JA?G?;:P<$JG?D<(

+($p:D:8T<D$>G?<8B=C$?>C:AE$BM>?C;=;;MR$;:ET;?V<JJC=9?B:A=CHV

JD<R$G:L?A$<$G:L?A$>?$?N?GPC=;<f$8:DCfT=;<O$D?P<JJ<<$J>=Q<:C<JV

A?B$B$ J?@C:J?B:;;?P$JA?G?;:P<$?Ls=P=$]$B$ JEPP=$ 61(1&2$ ,cOAH9=JOA

r=JAH$AMJOT$r=JAHJ?A$J?G?D/$GEL($BDCfT:O$$*(1&2$GEL($U"[(

%($[$P?P=;A:$>?9><J:;<O$;:JA?On=@?$_DA:$JA?G?;M$;<D:D<R$>G=V

A=;8<I$>?$9?@?B?GE$9GE@$D$9GE@E$;=$<P=fA(

XA$p:D:8T<D: XA$7J>?C;<A=CO

[([([�S4��b a(b(4XS0_U�b[#7�

¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤

a(c( a(c(

QT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

QS

1$+/0

)*6

-#4

%/)#&

+,

[C=9E=A$?AP=A<AH3$TA?$9=C:3$B?8LEK9=;;M=$>=GB?;:T:CH;?$>?$JA(+*2

!#$SF3$T:JA?$>=G=DB:C<N<Q<GEfAJO$;:$JA($+*+$!#$SF3$>?WA?PE$JE9=LV

;:O$>G:DA<D:$?LB<;<A=CH;MR$>G<@?B?G?B$>?$;?B?I$G=9:DQ<<$JA($+*2$!#

SF$JDE9;:($ZA?$BM8B:;?$A=P3$TA?$J?9=GK:;<=$>?;OA<O$d>G<8MBMe3$<JV

>?CH8?B:;;?@?$B$;?GP=$JA(+*2$!#$SF3$>G=9=CH;?$E8D?$<$N?GP:CH;?3

BMJD:8MB:;<OV>G<8MBM$;:$>G:DA<D=$>G:DA<T=JD<$BJ=@9:$D:PENC<GEfAJO

>?9$BMJD:8MB:;<O$<;?I$D?PPE;<D:A<B;?I$;:>G:BC=;;?JA<(

c?9$ J?JA:B$ >G=JAE>C=;<O3$ ?AB=AJAB=;;?JAH$ 8:$ D?A?G?=$ >G=V

9EJP?AG=;:$B$JA($+*+$!#$SF$>G<P=;<A=CH;?$D$8C?E>?AG=LC=;<f$JB?V

L?9?I$P:JJ?B?I$<;N?GP:Q<<3$>?9>:9:=A$A:D:O$<;N?GP:Q<O3$D?A?G:O

J?9=GK<A$?AG<Q:A=CH;Ef$WP?Q<?;:CH;Ef$?Q=;DE$<$N?GP<GE=A$;=@:V

A<B;Ef$EJA:;?BDE$:E9<A?G<<$B$?A;?r=;<<$?>G=9=C=;;?I$WA;<T=JD?I

,;:Q<?;:CH;?I/3$ G:J?B?I$ ,:;AG?>?C?@<T=JD?I/3$ D?;N=JJ<?;:CH;?I

,G=C<@<?8;?I/$ @GE>>M$ <C<$ ?A9=CH;MR$ C<Q$ D:D$ TC=;?B$ WA?I$ @GE>>M3

>?9JAG=D:=A$D$?@G:;<T=;<f$<R$>G:B$<C<$D$;:J<CHJAB=;;MP$9=IJAB<OP

>G?A<B$ ;<R3$ >?G?K9:=A$ ;:>GOK=;;?JAH$ B$ ?Ln=JAB=3$ ;=A=G><P?JAH$ D

J?JEn=JAB?B:;<f$ Cf9=I$ G:8;MR$ G:J3$ ;:Q<?;:CH;?JA=I$ <$ B=V

G?<J>?B=9:;<I3$ >?JD?CHDE$ J?89:=A$ LC:@?>G<OA;Ef$ >?TBE$ 9CO

P=K;:Q<?;:CH;MR$<$P=KD?;N=JJ<?;:CH;MR$D?;NC<DA?B(

[A($+*2$!#$SF$>G=9EJP:AG<B:=A$?AB=AJAB=;;?JAH$8:$OB;?$BMG:K=;V

;M=$>ELC<T;M=$>G<8MBM3$A?$=JAH$>?C<A<T=JD<=$C?8E;@<3$B$C:D?;<T;?I

N?GP=$BMG:K:fn<=$GED?B?9OnEf$>?C<A<T=JDEf$<9=f3$AG=L?B:;<=3

>?LEK9:fn==$T<A:A=C=I$<C<$JCEr:A=C=I$D$?JEn=JABC=;<f$WDJAG=P<JV

AJD?I$ 9=OA=CH;?JA<($ #B:C<N<Q<GEfn<P$ >G<8;:D?P$ <$ ?AO@T:fn<P

?LJA?OA=CHJAB?P$9:;;?@?$>G=JAE>C=;<O$OBCO=AJO$J?B=Gr=;<=$>ELC<TV

;MR$>G<8MB?B$J$<J>?CH8?B:;<=P$JG=9JAB$P:JJ?B?I$<;N?GP:Q<<(

c?P<P?$E@?C?B;?V>G:B?BMR$J:;DQ<I3$;:$?J;?B:;<<$BMr=ED:8:;V

;?@?$8:D?;:$B?8P?K;?$>G<P=;=;<=$<$<;MRl]$:9P<;<JAG:A<B;MR$<$@G:KV

9:;JD?V>G:B?BMR$P=G$B?89=IJAB<O$;:$JG=9JAB:$P:JJ?B?I$<;N?GP:Q<<(

p:D?;$ SF$ d2$ [a7e$ ;=$ 9?>EJD:=A$ <J>?CH8?B:;<O$ JG=9JAB$ P:JJ?B?I

<;N?GP:Q<<$B$Q=COR$G:8K<@:;<O$;:Q<?;:CH;?I$;=A=G><P?JA<$<$8:>V

G=n:=A$9<JDG=9<A:Q<f$@G:K9:;$>?$>G<8;:D:P$;:Q<?;:CH;?I$>G<;:9V

C=K;?JA<3$>G=9EJP:AG<B:O$8:$WA?$9?JA:A?T;?$K=JAD<=$J:;DQ<<(

[$ P?P=;A:$ >G<;OA<O$ F=9=G:CH;?@?$ 8:D?;:$ dX$ >G?A<B?9=IJAB<<

WDJAG=P<JAJD?I$9=OA=CH;?JA<e$G=r=;<=$?$>G=DG:n=;<=$9=OA=CH;?JA<

JG=9JAB$P:JJ?B?I$<;N?GP:Q<<$P?K=A$LMAH$>G<;OA?$JE9?P$>G<$;:C<V

T<<$?9;?@?$<8$JC=9Efn<R$?J;?B:;<I\

• b?V>=GBMR3$=JC<$ETG=9<A=CH$<$,<C</$G=9:DQ<O$[a73$B$?A;?r=V

;<<$D?A?GMR$LMC?$BM;=J=;?$>G=9E>G=K9=;<=$?$;=9?>EJA<P?JV

A<$G:J>G?JAG:;=;<O$WDJAG=P<JAJD<R$P:A=G<:C?B$<$?JEn=JABC=V

;<O$<P<$WDJAG=P<JAJD?I$9=OA=CH;?JA<3$;=$>G=9>G<;OC<$P=GM$>?

EJAG:;=;<f$9?>En=;;MR$;:GEr=;<I$B$EJA:;?BC=;;MI$B$>G=9E>V

G=K9=;<<$ JG?D($ cG<$ WA?P$ 9=OA=CH;?JAH$ [a7$ >?9C=K<A$ >G=V

G?K;?JA<3l]$J?P;=;<O$B$?A;?r=;<<$WNN=DA<B;?JA<$8:D?;?B3$;:>G:BV

C=;;MR$;:$L?GHLE$J$BMJD:8MB:;<OP<3$G:8K<@:fn<P<$BG:K9E$<$;=;:V

B<JAH($c?9?L;M=$J?P;=;<O$BMJD:8MB:fA$P;?@<=$>G:B?B=9M3$P=K9EV

;:G?9;M=$J>=Q<:C<JAM$>?$B?>G?J:P$JB?L?9M$JC?B:($0?GHL:$ J?$ JC?V

B=J;MP$WDJAG=P<8P?P$;=$9?CK;:$>G<B=JA<$D$ 8C?E>?AG=LC=;<f$8:D?V

;:P<$J?$JA?G?;M$@?JE9:GJAB:$9CO$>?9:BC=;<O$<;:D?PMJC<O(

cG:B?$;:$JB?L?9;?=$BMG:K=;<=$JB?=@?$P;=;<O$8:DG=>C=;?$B$JA($-)

a=K9E;:G?9;?@?$>:DA:$?$@G:K9:;JD<R$<$>?C<A<T=JD<R$>G:B:R3$B$D?V

A?G?I$>G=9EJP?AG=;M$C<rH$9B:$?@G:;<T=;<O$WA?@?$>G:B:3$dD?A?GM=

EJA:;?BC=;M$8:D?;?P$<$OBCOfAJO$;=?LR?9<PMP<\$:/$9CO$8:n<AM$>G:B

<$G=>EA:Q<<$9GE@<R$C<Q^$�/$9CO$?RG:;M$@?JE9:GJAB=;;?I$L=8?>:J;?JV

A<3$?Ln=JAB=;;?@?$>?GO9D:3$ 89?G?BHO$<$;G:BJAB=;;?JA<$;:J=C=;<Oe(

U?$>G<$WA?P$JA($-)$P?K=A$<$9?CK;:$G:JJP:AG<B:AHJO$J?BP=JA;?$J?$JA(

+2$A?@?$K=$>:DA:3$D?A?G:O$8:>G=n:=A$dBJODEf$>G?>:@:;9E$B?I;Me$<l]

TA?$?J?L=;;?$B:K;?$B$9:;;?P$JCET:=l]$dBJOD?=$BMJAE>C=;<=$B$>?CH8E

;:Q<?;:CH;?I3$G:J?B?I$<C<$G=C<@<?8;?I$;=;:B<JA<3$>G=9JA:BCOfn==

J?L?I$>?9JAG=D:A=CHJAB?$D$9<JDG<P<;:Q<<3$BG:K9=$<C<$;:J<C<fe(

"=IJABE=A$A:DK=$JA($&$a=K9E;:G?9;?I$D?;B=;Q<<$?$C<DB<9:Q<<$BJ=R

N?GP$G:J?B?I$9<JDG<P<;:Q<<3$@9=$?AP=T=;?3$TA?$@?JE9:GJAB:VET:JAV

;<D<$d?LsOBCOfA$D:G:=PMP$>?$8:D?;E$>G=JAE>C=;<=P$BJOD?=$G:J>G?JV

AG:;=;<=$<9=I3$?J;?B:;;MR$;:$G:J?B?P$>G=B?JR?9JAB=$<C<$;=;:B<JA<3

BJOD?=$>?9JAG=D:A=CHJAB?$D$G:J?B?I$9<JDG<P<;:Q<<3$:$A:DK=$BJ=$:DAM

;:J<C<O$<C<$>?9JAG=D:A=CHJAB:$D$A:D<P$:DA:P3$;:>G:BC=;;MP$>G?A<B

CfL?I$G:JM$<C<$@GE>>M$C<Q$9GE@?@?$QB=A:$D?K<$<C<$WA;<T=JD?@?$>G?V

<JR?K9=;<O(((e(

S?JJ<IJD?=$8:D?;?9:A=CHJAB?$>G=9EJP:AG<B:=A$9B:$?J;?B;MR$J>?V

J?L:$L?GHLM$J?$JC?B=J;MP$WDJAG=P<8P?P$,A?$=JAH$A:D<P$9=O;<=P3$D?A?V

G?=$ J?B=Gr:=AJO$ ;:$ >?TB=$ ;:Q<?;:CH;?I3$ G=C<@<?8;?I3$ WA;<T=JD?I

;=>G<O8;<$B$>G?Q=JJ=$G=T=B?I$D?PPE;<D:Q<<3$B$JC?B=J;?I$N?GP=/(

b?V>=GBMR3$WA?$B?8P?K;?JAH$E@?C?B;?@?$>G=JC=9?B:;<O$>?$JA:AHV

OP$+*2$!#$SF$,dcELC<T;M=$>G<8MBM$D$?JEn=JABC=;<f$WDJAG=P<JAJV

D?I$9=OA=CH;?JA<e/$<$+*+$!#$SF$,db?8LEK9=;<=$;:Q<?;:CH;?I3$G:J?V

B?I$<C<$G=C<@<?8;?I$BG:K9Me/(

b?VBA?GMR3$WA?$>G<P=;=;<=$F=9=G:CH;?@?$8:D?;:$SF$dX$>G?A<B?V

9=IJAB<<$WDJAG=P<JAJD?I$9=OA=CH;?JA<e$<$BM;=J=;<=$>G=9E>G=K9=;<O

J$AG=L?B:;<=P$C<DB<9:Q<<$JG=9JAB:$P:JJ?B?I$<;N?GP:Q<<$,B$JCET:=

;=?9;?DG:A;?@?$ ;:GEr=;<O/3$ >G=9EJP?AG=;;?@?$ 8:$ ;:GEr=;<=$ JA(&

p:D?;:$dX$[a7e(

U:<L?C==$?Ln=JAB=;;?$?>:J;MP<3$BC=DEn<P<$E@?C?B;?=$>G=JC=V

9?B:;<=$>G<8;:fAJO$9B:$B<9:$JC?B=J;?@?$WDJAG=P<8P:l]$WA?$>G<8MBM

D$?JEn=JABC=;<f$WDJAG=P<JAJD?I$9=OA=CH;?JA<$,JA($+*2$!#$SF/$<$B?8V

LEK9=;<=$ ;=;:B<JA<$ <$ BG:K9M3$ G:B;?$ D:D$ E;<K=;<=$ T=C?B=T=JD?@?

9?JA?<;JAB:$,JA(+*+$!#$SF/(

Qh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

QI

1$+/0

)*6

-#4

%/)#&

+,

D?I$9=OA=CH;?JA<e3$>G=9JA:BCOfAJO$?T=;H$JEn=JAB=;;MP<($bP=JA?$A:V

D<R$>G:B?;:GEr=;<I3$?A;?JOn<RJO$D$8C?E>?AG=LC=;<f$JB?L?9?I$P:JV

J?B?I$<;N?GP:Q<<3$D:D$>G<8MBM$D$8:RB:AE$BC:JA<3$;:J<CHJAB=;;?PE

<8P=;=;<f$D?;JA<AEQ<?;;?@?$JAG?O$<$Q=C?JA;?JA<$@?JE9:GJAB:3$G:8V

K<@:;<=$;:Q<?;:CH;?I3$DC:JJ?B?I3$ J?Q<:CH;?I3$G=C<@<?8;?I$;=A=GV

><P?JA<$<C<$G?8;<3$9CO$>G?>:@:;9M$B?I;Me3$B$8:D?;$B;=J=;:$N?GPEV

C<G?BD:$]$d?JEn=JABC=;<=$WDJAG=P<JAJD?I$9=OA=CH;?JA<e3$D?A?G:O$JEV

n=JAB=;;?$ G:Jr<GO=A$ >?;OA<=$ 8C?E>?AG=LC=;<O$ JB?L?9?I$ P:JJ?B?I

<;N?GP:Q<<$ <$ 9:=A$ 9?>?C;<A=CH;?=$ fG<9<T=JD?=$ ?J;?B:;<=$ >G=V

DG:n=;<O$<$>G<?JA:;?BC=;<O$9=OA=CH;?JA<$[a7(

c($-$JA($-$F=9=G:CH;?@?$8:D?;:$dX$>G?A<B?9=IJAB<<$WDJAG=P<JAJV

D?I$9=OA=CH;?JA<e$DB:C<N<Q<GE=A$WDJAG=P<JAJDEf$9=OA=CH;?JAH$ ,WDV

JAG=P<8P/$JC=9Efn<P$?LG:8?P\

-/ 9=OA=CH;?JAH$?Ln=JAB=;;MR$<$G=C<@<?8;MR$?Ls=9<;=;<I3$C<L?

<;MR$?G@:;<8:Q<I3$C<L?$JG=9JAB$P:JJ?B?I$<;N?GP:Q<<3$C<L?$N<8<V

T=JD<R$C<Q$>?$>C:;<G?B:;<f3$?G@:;<8:Q<<3$>?9@?A?BD=$<$J?B=Gr=;<f

9=IJAB<I3$;:>G:BC=;;MR$;:\

• ;:J<CHJAB=;;?=$<8P=;=;<=$?J;?B$D?;JA<AEQ<?;;?@?$JAG?O$<$;:V

GEr=;<=$Q=C?JA;?JA<$S?JJ<IJD?I$F=9=G:Q<<^

• >?9GMB$L=8?>:J;?JA<$S?JJ<IJD?I$F=9=G:Q<<^

• 8:RB:A$<C<$>G<JB?=;<=$BC:JA;MR$>?C;?P?T<I^

• J?89:;<=$;=8:D?;;MR$B??GEK=;;MR$N?GP<G?B:;<I^

• ?JEn=JABC=;<=$A=GG?G<JA<T=JD?I$9=OA=CH;?JA<^

• B?8LEK9=;<=$G:J?B?I3$;:Q<?;:CH;?I$<C<$G=C<@<?8;?I$G?8;<3$:

A:DK=$J?Q<:CH;?I$G?8;<3$JBO8:;;?I$J$;:J<C<=P$<C<$>G<8MB:P<

D$;:J<C<f^

• E;<K=;<=$;:Q<?;:CH;?@?$9?JA?<;JAB:^

• ?JEn=JABC=;<=$P:JJ?BMR$L=J>?GO9D?B3$REC<@:;JD<R$9=IJAB<I$<

:DA?B$B:;9:C<8P:$>?$P?A<B:P$<9=?C?@<T=JD?I3$>?C<A<T=JD?I3

G:J?B?I3$;:Q<?;:CH;?I$<C<$G=C<@<?8;?I$;=;:B<JA<$C<L?$BG:KV

9M3$:$G:B;?$>?$P?A<B:P$;=;:B<JA<$C<L?$BG:K9M$B$?A;?r=;<<

D:D?IVC<L?$J?Q<:CH;?I$@GE>>M^

• >G?>:@:;9E$<JDCfT<A=CH;?JA<3$>G=B?JR?9JAB:$C<L?$;=>?C;?Q=;V

;?JA<$@G:K9:;$>?$>G<8;:DE$<R$?A;?r=;<O$D$G=C<@<<3$J?Q<:CHV

;?I3$G:J?B?I3$;:Q<?;:CH;?I3$G=C<@<?8;?I$<C<$O8MD?B?I$>G<V

;:9C=K;?JA<^

+/l>G?>:@:;9:$<$>ELC<T;?=$9=P?;JAG<G?B:;<=$;:Q<JAJD?I$:AG<LEV

A<D<$<C<$J<PB?C<D<$C<L?$:AG<LEA<D<$<C<$J<PB?C<D<3$JR?9;MR$J$;:Q<V

JAJD?I$:AG<LEA<D?I$<C<$J<PB?C<D?I$9?$JA=>=;<$JP=r=;<O^

%/l>ELC<T;M=$>G<8MBM$D$?JEn=JABC=;<f$ED:8:;;?I$9=OA=CH;?JA<

<C<$J?B=Gr=;<f$ED:8:;;MR$9=IJAB<I^

&/lN<;:;J<G?B:;<=$ED:8:;;?I$9=OA=CH;?JA<$C<L?$<;?=$J?9=IJAB<=$==

?JEn=JABC=;<f$<C<$J?B=Gr=;<f$ED:8:;;MR$9=IJAB<I3$B$A?P$T<JC=$>EV

DG:n=;<f$ C<rH$ B$ A?P$ JCET:=3$ =JC<$ >G=9E>G=K9=;<=$ ;=$ LMC?

?LK:C?B:;?$B$JE9$<C<3$B$JCET:=$?LK:C?B:;<O3$>G<8;:;?$JE9?P

8:D?;;MP($cG=9E>G=K9=;<=$BM;?J<AJO$ETG=9<A=Cf$<C<$G=9:DV

Q<<$[a7$B$><JHP=;;?I$N?GP=$B$JCET:=$G:J>G?JAG:;=;<O$T=G=8

9:;;?=$[a7$WDJAG=P<JAJD<R$P:A=G<:C?B$C<L?$BMOBC=;<O$N:DV

A?B3$JB<9=A=CHJABEfn<R$?$;:C<T<<$B$=@?$9=OA=CH;?JA<$>G<8;:V

D?B$WDJAG=P<8P:($b$>G=9E>G=K9=;<<$ED:8MB:=AJO$;:$;=9?>EJA<V

P?JAH$A:D<R$9=IJAB<I$C<L?$A:D?I$9=OA=CH;?JA<$J$?LO8:A=CH;?I

JJMCD?I$;:$D?;DG=A;M=$?J;?B:;<O$BM;=J=;<O$>G=9E>G=K9=;<O3

B$A?P$T<JC=$9?>En=;;M=$;:GEr=;<O($�JC<$B?8P?K;?$>G<;OAH

P=GM$>?$EJAG:;=;<f$9?>En=;;MR$;:GEr=;<I3$B$>G=9E>G=K9=;<<

A:DK=$EJA:;:BC<B:=AJO$JG?D$9CO$<R$EJAG:;=;<O3$D?A?GMI$;=$P?V

K=A$J?JA:BCOAH$P=;==$9=JOA<$9;=I($cG:B?P$BM;=JA<$>G=9E>G=KV

9=;<=$?$;=9?>EJA<P?JA<$G:J>G?JAG:;=;<O$ WDJAG=P<JAJD<R$P:V

A=G<:C?B$<$<;MR$P:A=G<:C?B3$J?9=GK:n<R$>ELC<T;M=$>G<8MBM

D$?JEn=JABC=;<f$A=GG?G<JA<T=JD?I$9=OA=CH;?JA<$<C<$?>G:B9MV

B:fn<R$A=GG?G<8P3$B$J??AB=AJAB<<$J$8:D?;?P$;:9=C=;M\$:/$E>?CV

;?P?T=;;MI$@?JE9:GJAB=;;MI$?G@:;3$?JEn=JAB<Br<I$G=@<JAG:V

Q<f$9:;;?@?$[a7^$L/$N=9=G:CH;MI$?G@:;$<J>?C;<A=CH;?I$BC:V

JA<$B$JN=G=$>=T:A<3$A=C=G:9<?B=n:;<O$<$JG=9JAB$P:JJ?BMR$D?PV

PE;<D:Q<I^$B/$4=;=G:CH;MI$>G?DEG?G$SF$<C<$>?9T<;=;;MI$=PE

J??AB=AJABEfn<I$>G?DEG?G($[?@C:J;?$JA:AH=$-%$F=9=G:CH;?@?

8:D?;:$dX$>G?DEG:AEG=$S?JJ<IJD?I$F=9=G:Q<<e$WA?$P?K=A$LMAH

>G?DEG?G$ JELs=DA:$ S?JJ<IJD?I$ F=9=G:Q<<3$ >G?DEG?G$ @?G?9:3

G:I?;:3$:$A:DK=$>G?DEG?G$J>=Q<:C<8<G?B:;;?I$>G?DEG:AEGM(

• b?VBA?GMR3$=JC<$>?BA?G;?$B$A=T=;<=$9B=;:9Q:A<$P=JOQ=B$J?$9;O

BM;=J=;<O$>G=9E>G=K9=;<O$BMOBC=;M$;?BM=$N:DAM3$JB<9=A=CHV

JABEfn<=$?$;:C<T<<$>G<8;:D?B$WDJAG=P<8P:$B$9=OA=CH;?JA<$[a7(

ZA?$?J;?B:;<=$9CO$>G=DG:n=;<O$9=OA=CH;?JA<$[a7$:;:C?@<T;?

A?PE3$D?A?G?=$J?9=GK<AJO$B$T:JA<$%$JA:AH<$-1$p:D?;:$SF$dX$JG=9V

JAB:R$P:JJ?B?I$<;N?GP:Q<<e($X9;:D?$9CO$BM;=J=;<O$JE9?P$J?V

?AB=AJABEfn=@?$G=r=;<O$EK=$;=$AG=LE=AJO$BM;=J=;<O$>?BA?G;?V

@?$>G=9E>G=K9=;<O$J?$JA?G?;M$E>?C;?P?T=;;MR$?G@:;?B3$A:D$D:D

9?JA:A?T;?$J:P?@?$N:DA:$;:C<T<O$>G<8;:D?B$WDJAG=P<8P:$<C<

WDJAG=P<JAJD<R$P:A=G<:C?B$B$9=OA=CH;?JA<$[a7(

• bVAG=AH<R3$=JC<$?JEn=JABCO=P:O$[a7$WDJAG=P<JAJD:O$9=OA=CHV

;?JAH$>?BC=DC:$8:$J?L?I$;:GEr=;<=$>G:B$<$JB?L?9$T=C?B=D:$<

@G:K9:;<;:3$ >G<T<;=;<=$ BG=9:$ C<T;?JA<3$ 89?G?BHf$ @G:K9:;3

?DGEK:fn=I$JG=9=3$?Ln=JAB=;;?PE$>?GO9DE3$?Ln=JAB=;;?I$L=V

8?>:J;?JA<3$ J?LJAB=;;?JA<3$ 8:D?;;MP$WD?;?P<T=JD<P$<;A=G=V

J:P$N<8<T=JD<R$<$,<C</$fG<9<T=JD<R$C<Q3$?Ln=JABE$<$@?JE9:GV

JABE$<C<$J?89:fA$G=:CH;Ef$E@G?8E$>G<T<;=;<O$A:D?@?$BG=9:(

u:D<P$?LG:8?P3$<8P=;=;<O3$ B;=J=;;M=$B$T:JAH$-$ JA:AH<$&$p:D?;:

SF$?$[a7$B$JBO8<$J$>G<;OA<=P$Fp$dX$>G?A<B?9=IJAB<<$WDJAG=P<JAJV

QL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

QM

1$+/0

)*6

-#4

%/)#&

+,

• P:A=G<:CM3$J?9=GK:n<=$>G<8MB$D$?JEn=JABC=;<f$WDJAG=P<JAJV

D?I$9=OA=CH;?JA<(

• P:A=G<:CM3$ J?9=GK:n<=$ ?L?J;?B:;<=$ <C<$ ?>G:B9:;<=$ ;=?LV

R?9<P?JA<$?JEn=JABC=;<O$WDJAG=P<JAJD?I$9=OA=CH;?JA<(

• AGE9M$ GED?B?9<A=C=I$ ;:Q<?;:CVJ?Q<:C<JA<T=JD?I$ G:L?T=I

>:GA<<$4=GP:;<<3$N:r<JAJD?I$>:GA<<$7A:C<<(

• >ELC<D:Q<<3$?L?J;?BMB:fn<=$<C<$?>G:B9MB:fn<=$;:Q<?;:CHV

;?=$<$ ,<C</$G:J?B?=$>G=B?JR?9JAB?$C<L?$?>G:B9MB:fn<=$>G:DV

A<DE$J?B=Gr=;<O$B?=;;MR$<C<$<;MR$>G=JAE>C=;<I3$;:>G:BC=;;MR

;:$>?C;?=$<C<$T:JA<T;?=$E;<TA?K=;<=$D:D?IVC<L?$WA;<T=JD?I3

J?Q<:CH;?I3$G:J?B?I3$;:Q<?;:CH;?I$<C<$G=C<@<?8;?I$@GE>>M(

_$WA?$8;:T<A3$TA?$9?JA:A?T;?3$TA?LM$B$>ELC<D:Q<<$<P=C?JH$R?AH

D:D?=V;<LE9H$?L?J;?B:;<=$,A?$=JAH$>?9DG=>C=;<=$N:DA:P<3$J=GH=8;MV

P<$EL=9<A=CH;MP<$9?B?9:P</$G:J?B?@?$<$ ,<C</$;:Q<?;:CH;?@?$>G=V

B?JR?9JAB:3$:$A:DK=$?>G:B9:;<=$,A?$=JAH$>G<8;:;<=$>G:B<CH;MP$<C<

9?>EJA<PMP$B$?>G=9=C=;;MR$EJC?B<OR/$A:D?@?$>G=B?JR?9JAB:$<C<$>G:DV

A<D<$J?B=Gr=;<O$CfLMR$>G=JAE>C=;<I3$;:>G:BC=;;MR$;:$>?C;?=$<C<

T:JA<T;?=$E;<TA?K=;<=$D:D?IVC<L?$WA;<T=JD?I3$J?Q<:CH;?I3$G:J?B?I3

;:Q<?;:CH;?I$<C<$G=C<@<?8;?I$@GE>>M3$TA?LM$?;<$LMC<$DB:C<N<Q<V

G?B:;M$B$D:T=JAB=$WDJAG=P<JAJD<R$P:A=G<:C?B(

u:D<P$ ?LG:8?P3$ JC?B=J;MI$ WDJAG=P<8P$ P?K;?$ ?>G=9=C<AH$ D:D

Q=C=;:>G:BC=;;MI$:DA$>ELC<T;?I$>=G=9:T<$J??Ln=;<I$B$N?GP=$EJAV

;MR$<C<$><JHP=;;MR$G=T=BMR$BMJD:8MB:;<I3$D?A?GM=\

• >G<8MB:fA$ <C<$ >?9JAG=D:fA$ D$ ?JEn=JABC=;<f3$ <;<Q<<GEfA3

>G?B?Q<GEfA$ <C<$ GED?B?9OA$ >G?A<B?>G:B;MP<$ 9=IJAB<OP<

WDJAG=P<JAJD?@?$A?CD:3

• ?>G:B9MB:fA$<C<$?L?J;?BMB:fA$<R3

• >G?>:@:;9<GEfA$ ;:Q<JAJDEf$ <C<$ JR?9;Ef$ J$ ;=I$ 9?$ JA=>=;<

JP=r=;<O$J<PB?C<DE$<$:AG<LEA<DE3

• ;:>G:BC=;M$;:$B?8LEK9=;<=$;:Q<?;:CH;?I3$G:J?B?I$<C<$G=C<@<V

?8;?I$BG:K9M$C<L?$;=;:B<JA<3$BDCfT:O$>=G=9:TE$<;N?GP:Q<<

O8MD?BMP<$JG=9JAB:P<$B$>ELC<T;MR$BMJAE>C=;<OR3$ JG=9JAB:R

P:JJ?B?I$<;N?GP:Q<<$,>=T:A;M=$<89:;<O3$G:9<?3$A=C=B<9=;<=/(

"=A=GP<;:;AM$ JC?B=J;?@?$ WDJAG=P<8P:3$ D:D$ PM$ B<9<P3$ A=J;?

EBO8MB:fAJO$ J$>?;OA<OP<$d>G?>:@:;9M$;:Q<JAJD?I$:AG<LEA<D<$<C<

J<PB?C<D<e$<$J$>?;OA<=P$d:AG<LEA<D<$<C<$J<PB?C<D<3$JR?9;MR$J$;:V

Q<JAJD?I$:AG<LEA<D?I$<C<$J<PB?C<D?I$9?$JA=>=;<$JP=r=;<Oe3$>?WA?V

PE$G:JJP?AG<P$<$<R(

[?@C:J;?$JC?B:G;MP$A?CD?B:;<OP3$>G?>:@:;9E$P?K;?$?>G=9=C<AH

D:D$G:J>G?JAG:;=;<=$B$?Ln=JAB=$<$G:8sOJ;=;<=$D:D<RVC<L?$B?88G=;<I3

<9=I3$8;:;<I3$ET=;<O(

b$LEDB:CH;?P$>=G=B?9=$J$C:A<;JD?@?$yxwy����|�$,?A$C:A($yxwy���x}

G:J>G?JAG:;OAH/$d>G?>:@:;9:e$?8;:T:=A$G:J>G?JAG:;=;<=$>?C<A<T=JV

A=P$>G=9?JA:BC=;<O$9CO$?JEn=JABC=;<O$ED:8:;;?I$9=OA=CH;?JA<$N<;:;V

J?BMR$JG=9JAB3$;=9B<K<P?JA<3$ET=L;?I3$>?C<@G:N<T=JD?I$<$P:A=G<:CHV

;?VA=R;<T=JD?I$L:8M3$A=C=N?;;?I3$N:DJ<P<CH;?I$<$<;MR$B<9?B$JBO8<3

<;N?GP:Q<?;;MR$EJCE@3$<;MR$P:A=G<:CH;?VA=R;<T=JD<R$JG=9JAB(

b$Q=C?P$JC=9E=A$D?;JA:A<G?B:AH3$TA?3$>?$P;=;<f$Q=C?@?$GO9:$WDJV

>=GA?B3$?>G=9=C=;<=$WDJAG=P<8P:3$<C<$WDJAG=P<JAJD?I$9=OA=CH;?JA<$B

9=IJABEfn=P$G?JJ<IJD?P$8:D?;?9:A=CHJAB=$;?J<A$G:8PMAMI3$;=9?JA:V

A?T;?$ToAD<I$R:G:DA=G3$?Ls=9<;O=A$B$J=L=$G:8;?G?9;M=$OBC=;<O3$D:D

>G=9JA:BCOfn<=$?J?LEf$?Ln=JAB=;;Ef$?>:J;?JAH$<$>?9C=K:n<=$E@?V

C?B;?PE$>G=JC=9?B:;<f3$A:D$<$$8;:T<A=CH;?$P=;==$8;:T<A=CH;M=$>G:V

B?;:GEr=;<O($ZA?$?A;?J<AJO3$;:>G<P=G3$D$A:D?PE$B:K;?PE$>E;DAE$?>V

G=9=C=;<O3$D:D$dB?8LEK9=;<=$J?Q<:CH;?I3$G:J?B?I3$;:Q<?;:CH;?I$<C<

G=C<@<?8;?I$G?8;<e($c?9$WA?A$>E;DA$>?9>:9:fA$D:D$E@?C?B;M=$>G=V

JAE>C=;<O3$?><JMB:=PM=$B$JA($+*+$!#3$A:D$<$JR?9;M=3$;?$;=$E@?C?B;M=

9=O;<O^$A:D$TA?$@:8=A:$P?K=A$LMAH$8:DGMA:$8:$>ELC<D:Q<f3$:BA?G$D?V

A?G?I$ ;=$ LE9=A$ >G<BC=T=;$ D$ E@?C?B;?I$ ?AB=AJAB=;;?JA<$ ,;:>G<P=G3

<P=;;?$A:D$LMC:$8:DGMA:$B$+226$@?9E$@:8=A:$U:Q<?;:CVL?CHr=B<JAJV

D?I$>:GA<<$,U0c/$d4=;=G:CH;:O$C<;<Oe/(

XJ?L?$JC=9E=A$?AP=A<AH$A:D?=$>G?A<B?G=T<B?=$>?;OA<=3$D:D$dB?8LEKV

9=;<=$J?Q<:CH;?I$G?8;<e3$>?JD?CHDE$J?Q<:CH;?I$G?8;Hf$P?K;?$JT=JAH

B??Ln=$CfL?=$>G?A<B?G=T<=$B$?Ln=JAB=($u:D<P$?LG:8?P3$?LB<;<AH$B

WDJAG=P<JAJD?P$BMJD:8MB:;<<3$B$>G<;Q<>=3$P?K;?$CfL?@?$T=C?B=D:3$D?V

A?GMI$>ELC<T;?$BMJD:8MB:=AJO$?$D:D?PVA?$D?;NC<DA=$<C<$BMJAE>:=A

>G?A<B$D?@?VC<L?(

c?;OA<=$dWDJAG=P<JAJD<=$P:A=G<:CMe$A:DK=$;EK9:=AJO$B$9?>?C;<V

A=CH;?P$D?PP=;A:G<<(

b$BMr=;:8B:;;?P$8:D?;=$ED:8MB:=AJO3$TA?$WDJAG=P<JAJD<=$P:A=G<:V

CMl]$WA?$>G=9;:8;:T=;;M=$9CO$?L;:G?9?B:;<O$9?DEP=;AM$C<L?$<;N?GP:V

Q<O$;:$<;MR$;?J<A=COR3$>G<8MB:fn<=$D$?JEn=JABC=;<f$WDJAG=P<JAJV

D?I$9=OA=CH;?JA<$C<L?$?L?J;?BMB:fn<=$<C<$?>G:B9MB:fn<=$;=?LR?V

9<P?JAH$?JEn=JABC=;<O$A:D?I$9=OA=CH;?JA<3$B$A?P$T<JC=$AGE9M$GED?B?V

9<A=C=I$;:Q<?;:CVJ?Q<:C<JAJD?I$G:L?T=I$>:GA<<$4=GP:;<<3$N:r<JAJV

D?I$>:GA<<$7A:C<<3$>ELC<D:Q<<3$?L?J;?BMB:fn<=$<C<$?>G:B9MB:fV

n<=$;:Q<?;:CH;?=$<$ ,<C</$G:J?B?=$>G=B?JR?9JAB?$C<L?$?>G:B9MB:fV

n<=$>G:DA<DE$J?B=Gr=;<O$B?=;;MR$<C<$<;MR$>G=JAE>C=;<I3$;:>G:BC=;V

;MR$;:$>?C;?=$<C<$T:JA<T;?=$E;<TA?K=;<=$D:D?IVC<L?$WA;<T=JD?I3$J?V

Q<:CH;?I3$G:J?B?I3$;:Q<?;:CH;?I$<C<$G=C<@<?8;?I$@GE>>M(

[C=9?B:A=CH;?3$ WDJAG=P<JAJD<P<$9?CK;M$>G<8;:B:AHJO$P:A=G<:V

CM3$?AB=T:fn<=$JC=9Efn<P$>G<8;:D:P\

• 9?DEP=;AM$<C<$<;N?GP:Q<O$;:$<;MR$;?J<A=COR(

• P:A=G<:CM3$>G=9;:8;:T=;;M=$9CO$?L;:G?9?B:;<O(

QO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

QP

1$+/0

)*6

-#4

%/)#&

+,

@GE>>E$>G<8;:D?B3$R:G:DA=G;MR$B$?J;?B;?P$<C<$A?CHD?$9CO$N:r<8P:3

<$@GE>>E$>G<8;:D?B3$R:G:DA=G;MR$A:DK=$<$9CO$9GE@<R$B<9?B$A?A:C<A:V

G<8P:$<$;:Q<?;:C<JA<T=JD<R$9B<K=;<I(

"CO$N:r<8P:$R:G:DA=G;:$JC=9Efn:O$@GE>>:$>G<8;:D?B\

:/ DG:I;<I$;:Q<?;:C<8P$ ,r?B<;<8P/3$9?R?9On<I$9?$G:J<8P:$<$B

:@G=JJ<B;MR$>G?OBC=;<ORl]$9?$@=;?Q<9:^

L/ <9=O$9<DA:AEGM$;:Q<?;:CH;?I$WC<AM$B?$@C:B=$J$B?K9=P3$;:$?JV

;?B=$?G@:;<8:Q<<$WA?I$WC<AM$D:D$GED?B?9On=I$B=GRErD<$>:GA<<$B?=V

;<8<G?B:;;?@?$A<>:^

B/ J?89:;<=$ B?=;<8<G?B:;;?I$ >:GA<<$ d?G9=;JD?@?e$ A<>:$ J$ K=JAV

D?I$9<JQ<>C<;?I$<$B?=;<8<G?B:;;MR$N?GP<G?B:;<I^

@/ ?>G=9=C=;<=$BG:@?B$;:Q<<$]$B;EAG=;;<R$<$B;=r;<R^

9/ >G=A=;8<<$;:$G:J>G?JAG:;=;<=$9ER?B;MR$Q=;;?JA=I$JB?=I$;:Q<<

<$JB?=@?$9B<K=;<O$B?$BJ=P$P<G=^

=/ >G?>:@:;9:$ <$ G?P:;A<8:Q<O$ L=JD?P>G?P<JJ;?I$ L?GHLM$ 8:

dBJ=P<G;?V<JA?G<T=JD<=e$<9=:CM$9B<K=;<O$<$DECHA:$K=GAB=;;?JA<$<

@=G?<T=JD?I$JP=GA<$B?$<PO$>?L=9M^

K/ >G?>:@:;9:$DECHA:$J<CM$<$EJAG:r=;<O$;=$A?CHD?$A:D$;:8MB:=V

PMR$BG:@?B3$;?$>G:DA<T=JD<$BJ=@?$;:J=C=;<O^

8/ >G?>:@:;9:$ N:r<JAJD?I3$ :;A<J=P<AJD?I$ <$ 9GE@?I$ DJ=;?N?LJV

D?I$C<A=G:AEGM^

</ >G<9:;<=$?@G?P;?@?$8;:T=;<O$J=P<?A<T=JD?PE$,8;:D?B?PE/$O8MV

DE$>?C<A<T=JD?@?$JA<CO$ ,O8MDE$J?LG:;<I3$JL?G<n3$r=JAB<I3$>:GA<IV

;MR$ J<PB?C?B3$ E;<N?GP=3$ C=DJ<D=/3$ ?LO8:A=CH;?JAH$ WA?@?$ JA<CO3$ >?

DG:I;=I$P=G=3$9CO$TC=;?B$N:r<JAJD?I$?G@:;<8:Q<<$D:D$JB?=@?$G?9:

J>=Q<N<T=JD?@?$ ?A?LG:K=;<O$ N:r<JAJD?I$ <9=?C?@<<$ ,WA?A$ B:K;MI

>G<8;:D$LE9=A$>?OJ;=;$;<K=/^

D/$<9=O$>?JAG?=;<O$A?A:C<A:G;?@?$@?JE9:GJAB:$;:$?J;?B=$>G<;Q<V

>:$D?G>?G:A<B;?JA<$,WA?A$>G<8;:D$LMC$R:G:DA=G=;$9CO$<A:CHO;JD?@?

N:r<8P:3$;?$;=$OBCO=AJO$?LO8:A=CH;MP$9CO$N:r<JAJD?I$<9=?C?@<</(

4GE>>:$>G<8;:D?B3$R:G:DA=G;MR$;=$A?CHD?$9CO$N:r<8P:3$;?$<$9CO

9GE@<R$B<9?B$A?A:C<A:G<8P:$<$;:Q<?;:C<JA<T=JD<R$9B<K=;<I\

C/$DECHA$B?K9O^

P/$DJ=;?N?L<O$<3$B$T:JA;?JA<3$:;A<J=P<A<8P$,f9?N?LJAB?/^

;/$?AG<Q:;<=$9=P?DG:A<<3$C<L=G:C<8P:3$>CfG:C<8P:3$>?9:BC=;<=

?>>?8<Q<<3$T<JAD<$BJ=@?$@?J:>>:G:A:^$DEGJ$;:$G=>G=JJ<<^

?/$>G=A=;8<<$;:$G:Jr<G=;<=$A=GG<A?G<:CH;?@?$>G?JAG:;JAB:^

>/$>?C<A<T=JD:O$<$J?Q<:CH;:O$9=P:@?@<O^

G/$J>=Q<:CH;:O$?G@:;<8:Q<O$B?=;;?I$<$<9=?C?@<T=JD?I$>?9@?A?BV

D<$P?C?9=K<(

cG?@G:PPM$ <$ 9=DC:G:Q<<$ >?C<A<T=JD<R$ ?Ls=9<;=;<I$ 8:T:JAEf

D:PENC<GEfA$<JA<;;M=$Q=C<$<R$:BA?G?B($"CO$G:J>?8;:B:;<O$JDGMA?I

D<R3$N<C?J?NJD<R3$;:ET;MR3$RE9?K=JAB=;;MR$<$9GE@<R$<9=I$B$?Ln=V

JAB=($U:>G<P=G3$>?C<A<T=JD:O$<C<$<9=?C?@<T=JD:O$>G?>:@:;9:$?JEn=V

JABCO=AJO$J$Q=CHf$N?GP<G?B:;<O$E$r<G?D<R$P:JJ$;:J=C=;<O$?>G=9=V

C=;;MR$B8@CO9?B($c?9$>G?>:@:;9?I$>?;<P:=AJO$9=OA=CH;?JAH3$;:>G:BV

C=;;:O$;:$A?3$TA?LM$>?BC<OAH$;:$J?8;:;<=$<;9<B<9?B3$?A9=CH;MR$?LV

n=JAB=;;MR$@GE>>$<C<$;:$?Ln=JAB?$B$Q=C?P$9CO$9?JA<K=;<O$?>G=9=V

C=;;?I3$8:G:;==$;:P=T=;;?I$Q=C<(

XL?Ln:O$G:8;M=$9=N<;<Q<<3$P?K;?$JD:8:AH3$TA?$>?9$>G?>:@:;9?I

B$D?;A=DJA=$ 8:D?;:$dX$>G?A<B?9=IJAB<<$WDJAG=P<JAJD?I$9=OA=CH;?JV

A<e$ >?;<P:=AJO$ G:J>G?JAG:;=;<=$ JG=9<$ r<G?D?@?$ DGE@:$ C<Q$ <9=I3

B8@CO9?B3$>G=9JA:BC=;<I$<C<$>?LEK9=;<I$D$9=IJAB<OP3$;:>G:BC=;;MP

;:$B?8LEK9=;<=$;:Q<?;:CH;?I3$G:J?B?I$<C<$G=C<@<?8;?I$BG:K9M($b=GV

L:CH;?$A:D:O$>G?>:@:;9:$P?K=A$BMG:K:AHJO$B$B<9=$>G<8MB?B3$B?88B:V

;<I3$>?ET=;<I3$J?B=A?B3$>G=9?JA=G=K=;<I3$AG=L?B:;<I3$E@G?8$<$A(>($bMV

OBC=;<=$JPMJC?B?I$;:>G:BC=;;?JA<$BMJD:8MB:;<I3$G:8?LC:T=;<=$JDGMV

AMR$>G<=P?B$<$J>?J?L?B$>G?>:@:;9M$;:Q<?;:CH;?I3$G=C<@<?8;?I$G?8V

;<$ <$ BG:K9M$ OBCO=AJO$ Q=;AG:CH;MP$ 8B=;?P$ B$ EJA:;?BC=;<<

>G?A<B?>G:B;?JA<$J?B=Gr:=P?@?$9=O;<O(

S:8sOJ;=;<=$J?9=GK:;<O$A=GP<;:$Y8>Y/=/70/$>G<P=;<A=CH;?$D$G:8V

K<@:;<f$;:Q<?;:CH;?I$G?8;<$9:C$cC=;EP$b=GR?B;?@?$[E9:$[[[S$B

c?JA:;?BC=;<<$q$-'$dX$G:JJP?AG=;<<$JE9:P<$9=C3$JBO8:;;MR$J$>G=V

JAE>C=;<OP<3$J?B=Gr=;;MP<$B$EJC?B<OR$JA<R<I;?@?$<C<$<;?@?$?Ln=V

JAB=;;?@?$ L=9JAB<Oe$ ?A$ +%$ 9=D:LGO$ -)**$ @($ O8>Y/=/70/$ ]$ WA?

dG:J>G?JAG:;=;<=$8C?;:P=G=;;MR$JCER?B$<$<8PMrC=;<I3$>?9GMB:fV

n<R$9?B=G<=$<$EB:K=;<=$D$9GE@?I$;:Q<?;:CH;?JA<3$BM8MB:fn<R$TEBV

JAB?$ ;=>G<O8;<$ D$ ;=I($ "=IJAB<O3$ J?B=Gr=;;M=$ J$ WA?I$ Q=CHf3$ P?@EA

BMG:K:AHJO$B$>ELC<T;MR$BMJAE>C=;<OR$<$>G<8MB:R3$B$A?P$T<JC=$B$>=V

T:A<$ <$ <;MR$ JG=9JAB:R$ P:JJ?B?I$ <;N?GP:Q<<3$ B$ <8@?A?BC=;<<3$ G:JV

>G?JAG:;=;<<$C<JA?B?D3$>C:D:A?B3$C?8E;@?B$<$A($>(3$:$A:DK=$B$?G@:;<V

8:Q<<$J?LG:;<I3$P<A<;@?B3$9=P?;JAG:Q<I$<$:DA<B;?P$B$;<R$ET:JA<<$B

BMr=ED:8:;;MR$Q=CORe(

S:JJP:AG<B:O$>?;OA<=$>G?>:@:;9M$B$D?;A=DJA=$JC?B=J;?@?$WDJAG=V

P<8P:3$;=CH8O$;=$?JA:;?B<AHJO$;:$>?;OA<<$;:Q<8P:$,N:r<8P:/$<$=@?

J<PB?C<D<3$:AG<LEA<D<(

XJ;?B?I$ <9=?C?@<<$ N:r<8P:$ OBCO=AJO$ DG:I;<I$ ;:Q<?;:C<8P3

<J>?CH8Efn<I$<9=f3$D?A?GEf$A=?G=A<D<$N:r<8P:$;:8MB:fA$dD?;J=GV

B:A<B;?I$G=B?CfQ<=Ie3$:$ =@?$>G:DA<D<V>?>EC<JAMl]$d;:Q<?;:CH;?I

G=B?CfQ<=Ie^$>?9$;:Q<?;:CH;?I$G=B?CfQ<=I$>?;<P:=AJO$G=B?CfQ<V

?;;?=$B?8G?K9=;<=$ ,>G=?LG:8?B:;<=/$;:Q<<$;:$?J;?B=$?LG:n=;<O$D

D?;J=GB:A<B;MP$AG:9<Q<OP$<$P<N:P$>G?rC?@?^$WA:$<9=?C?@<O$JA:B<A

Q=CHf$9B<K=;<O$J?89:;<=$A?A:C<A:G;?@?$@?JE9:GJAB:$;:$?J;?B=$>G<V

P:A:$DG:I;=@?$;:Q<?;:C<8P:(

ZA:$?J;?B:$<9=?C?@<<$N:r<8P:$?>G=9=CO=A$J?B?DE>;?JAH$=@?$>G<V

8;:D?B3$D?A?GM=$J?BG=P=;;:O$;:ED:$>?9G:89=CO=A$;:$9B:$P;?K=JAB:\

QQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

QR

1$+/0

)*6

-#4

%/)#&

+,

D?P=;9:Q<OR$S?J>:A=;A:$>?$>G?B=GD=$8:OBC=;;MR$?L?8;:T=;<I$;:$A?KV

9=JAB?$<$JR?9JAB?3$J$ET=A?P$<P=fn=IJO$B$J>=Q<:CH;?I$C<A=G:AEG=$DG<V

A<D<$ED:8:;;MR$S=D?P=;9:Q<I($_$<P=;;?\$>G<$JG:B;=;<<$JC?B=J;MR

?L?8;:T=;<I3$BR?9On<R$B$:AG<LEA<DE$<C<$J<PB?C<DE3$>?9C=K<A$?>G=V

9=C=;<f$;:C<T<=$8BED?B?@?$,N?;=A<T=JD?@?/3$@G:N<T=JD?@?$,B<8E:CHV

;?@?/$<$JPMJC?B?@?$,J=P:;A<T=JD?@?/$JR?9JAB:$J$;:Q<JAJD?I$:AG<LEV

A<D?I$<$J<PB?C<D?I(

�JC<$;=D?A?G?PE$:AG<LEAE$<C<$J<PB?CE$>?C<A<T=JD?@?$JA<CO$P?KV

;?$>G<><J:AH$P;?K=JAB?$G:8C<T;MR$J=P<?A<T=JD<R$JPMJC?B3$A?$WA?A

:AG<LEA$P?K=A$>G=9JA:BCOAH$ J??AB=AJAB=;;?$P;?K=JAB?$ 8;:D?B($XLV

n=JAB?$BML<G:=A$D?;DG=A;MI$J=P<?A<T=JD<I$JPMJC$J<PB?C:$<C<$:AV

G<LEA:$B$J??AB=AJAB<<$J$D?;A=DJA?P$=@?$<J>?CH8?B:;<O$<$=@?$8;:T<P?V

JAHf$B$?Ln=JAB=;;?P$J?8;:;<<(

c?WA?PE$ <J>?CH8?B:;<=3$ D$ >G<P=GE3$ JB:JA<D<$ B$ WPLC=P=$ DG:I;=

;:Q<?;:C<JA<T=JD?@?$ 9B<K=;<O$ ,>:GA<</$ OBCO=AJO$ A=P$ D?;A=DJA?P3

D?A?GMI$?9;?8;:T;?$ED:8MB:=A$;:$A?3$TA?$B$9:;;?P$JCET:=$JB:JA<D:

<J>?CH8E=AJO$ D:D$ J<PB?C$ N:r<8P:V;:Q<8P:3$ :$ ;=$ ?9;?I$ <8$ 9G=B;<R

DECHAEG3$B$D?A?GMR$<P=C<JH$JR?K<=$8;:D<($ZA?A$J<PB?C<T=JD<I$JPMJC

:AG<LEA:VJB:JA<D<$ <P==A$ ;:<L?CHrEf$ 8;:T<P?JAH$ B$ ?Ln=JAB=;;?P

J?8;:;<<3$J?RG:;<Br=P$>:POAH$?$>G=JAE>C=;<OR$@=GP:;JD?@?$N:r<8V

P:3$ J?B=Gr:Br<RJO$>?9$8;:D?P$JB:JA<D<3$<$;=@:A<B;?$G=:@<GEfn=P

;:$>G?OBC=;<O$DG:I;=@?$;:Q<?;:C<8P:$<$9GE@<=$>G<8;:D<$N:r<8P:V

;:Q<8P:($p:P=A<P3$TA?$?$JB:JA<D=$D:D$?$J<PB?C=$N:r<8P:$>GOP?$@?B?V

G<C?JH$B$d_8LED=$N:r<8P:el]$9?DEP=;A=$bJ=G?JJ<IJD?I$N:r<JAJD?I

>:GA<<$,bcF/$%2VR$@?9?B(

[C=9?B:A=CH;?3$JB:JA<D:$B?J>G<;<P:=AJO$>?9:BCOfn<P$L?CHr<;V

JAB?P$ G?JJ<IJD?@?$ ?Ln=JAB:$ <P=;;?$ D:D$ J<PB?C3$ ?C<Q=AB?GOfn<I

N:r<8PV;:Q<8P($ZA?$>?9AB=GK9:=AJO3$B$T:JA;?JA<3$BMJAE>C=;<OP<$B

>=T:A<3$>G=9JA:BCOfn=I$G:8C<T;M=$T:JA<$G?JJ<IJD?@?$?Ln=JAB=;;?V

>?C<A<T=JD?@?$J>=DAG:3$B$A?P$T<JC=$<$SEJJDEf$>G:B?JC:B;Ef$Q=GD?BH3

<$GEJJD<R$;:Q<?;:C<JA?B(

"CO$ BMOBC=;<O$ >G<8;:D?B$ B=GL:CH;MR$ >G?OBC=;<I$ WDJAG=P<8P:

>G:B??RG:;<A=CH;MP$<$<;MP$@?JE9:GJAB=;;MP$?G@:;:P$BJ=$T:n=$AG=V

LE=AJO$>?P?nH$D?P>=A=;A;MR$J>=Q<:C<JA?B3$TH=$8:DCfT=;<=$C?K<AJO

B$?J;?BE$;=$A?CHD?$>G<;OA<O$G=r=;<O$?$B?8LEK9=;<<$E@?C?B;?@?$9=C:

>?$>G<8;:D:P$>G=JAE>C=;<I3$?AB=AJAB=;;?JAH$8:$D?A?GM=$>G=9EJP?AV

G=;:$JA(JA($+*23$+*+$!#$SF3$;?$<$>G<@?B?G:$JE9:($p;:T=;<=$BMB?9?B

WDJ>=GA:$ ,J>=Q<:C<JA:/$?$;:C<T<<$<C<$?AJEAJAB<<$>G<8;:D?B3$>?8B?V

COfn<R$?A;=JA<$P:A=G<:CM$D$WDJAG=P<JAJD<P3$9CO$<JR?9:$9=C:$>?$ED:V

8:;;MP$J?JA:B:P$>G=JAE>C=;<I$AGE9;?$>=G=?Q=;<AH(

cG<$;:8;:T=;<<$WDJ>=GA<8M$>?$dWDJAG=P<JAJD<Pe$9=C:P$9?CK;?

E9=COAHJO$?J?L?=$B;<P:;<=$BML?GE$WDJ>=GA:$,WDJ>=GA?B/3$>G?B=GD=$=@?

D?P>=A=;Q<<$ <$ D?P>=A=;A;?JA<3$ N?GPEC<G?BD=$ B?>G?J?B$ WDJ>=GAE3

;:Q<JAJD?I$?G@:;<8:Q<<$?J?L?=$8;:T=;<=$<P==A$>G<;OAMI$B$?G@:;<V

8:Q<<$JA<CH3$?>G=9=CO=PMI$J?B?DE>;?JAHf$R:G:DA=G;MR$:AG<LEA?B(

7P=;;?$:AG<LEAM$BM>?C;OfA$G?CH$J<PB?C?B$,8;:D?B/3$J?B?DE>;?JAH

D?A?GMR$OBCO=AJO$J<PB?C<D?I$N:r<JAJD?@?$JA<CO($m?AO$JA<CH$G:8C<TV

;MR$N:r<JAJD<R$9B<K=;<I$B$G:8;MR$JAG:;:R$G:8C<T:=AJO3$E$;=@?$=JAH

?Ln<=3$ E;<B=GJ:CH;M=$ T=GAM\$ B?<;JAB=;;?JAH3$ 9=P?;JAG:Q<O$ J<CM3

P?;?C<A;?@?$=9<;JAB:3$K=JA?D?JA<3$ AB=G9?JA<3$>G=9:;;?JA<$B?K9f3

<9==3$>:GA<<$<$A(>(

bJ=$N:r<JAJD<=$?G@:;<8:Q<<$>G<9:fA$JB?=I$J<PB?C<D=$ J:DG:CHV

;MI3$P:@<T=JD<I3$P=A:N<8<T=JD<I$JPMJC($ZA<P$O8MD?P$?;<$9:fA$J<@V

;:C$?$N:r<JAJD?I$?G<=;A:Q<<($ZA?A$JA<CH$B:K=;$;=$A?CHD?$>?A?PE3

TA?$?;$B?89=IJABE=A$;:$P:JJM$J:P$>?$J=L=$L=8$J>=Q<:CH;?I$>G?>:@:;V

9M($X;$9=C:=A$N:r<8P$E8;:B:=PMP3$<3$ JC=9?B:A=CH;?3$B=JHP:$B:K=;

9CO$=@?$<9=;A<N<D:Q<<(

UEK;?$?LG:A<AH$B;<P:;<=3$TA?$8:D?;?P$8:>G=n:=AJO$>G?>:@:;9:

;=$A?CHD?$J?LJAB=;;?$DC:JJ<T=JD<R$;:Q<JAJD<R$J<PB?C?B$<$:AG<LEA?B3

;?$CfL?I$J<PB?C<D<$<$:AG<LEA<D<3$JR?K=I$J$;<P<$9?$JA=>=;<$JP=r=V

;<O($uG=LE=AJO$>G<P=;OAH$?Ls=DA<B;M=$DG<A=G<<$?>G=9=C=;<O$JR?9V

JAB:3$A?$=JAH$>?9?L<O$J<PB?C<D<$<$:AG<LEA<D<$G:8C<T;MR$N?GP<G?V

B:;<I$<$?G@:;<8:Q<I3$D?A?G:O$BB?9<A$:E9<A?G<f$B$8:LCEK9=;<=3$LEV

9ET<$B?J>G<;<P:=P?I$D:D$;:Q<JAJD:O$<$N:r<JAJD:O(

c?;OA<=$dJR?9;MI$9?$JA=>=;<$JP=r=;<Oe$P?K=A$G:JJP:AG<B:AHJO

>?$:;:C?@<<$J$A:D<P$K=$A=GP<;?P3$E>?AG=LCO=PMP$B$;?GP:A<B;?V>G:V

B?BMR$:DA:R3$G=@EC<GEfn<R$>G:B?$<;A=CC=DAE:CH;?I$J?LJAB=;;?JA<(

u:D3$;:>G<P=G3$B$p:D?;=$SF$d2$A?B:G;MR$8;:D:R3$8;:D:R$?LJCEK<B:V

;<O$<$;:<P=;?B:;<OR$P=JA$>G?<JR?K9=;<O$A?B:G?Be$ED:8MB:=AJO$;:

;=9?>EJA<PMI$EG?B=;H$LC<8?JA<$B;?BH$ 8:OBCO=P?@?$;:$G=@<JAG:Q<f

?L?8;:T=;<O$EK=$<8B=JA;?PEl]$;:C<T<=$P=K9E$;<P<$JR?9JAB:$9?$JA=V

>=;<$JP=r=;<O($[?@C:J;?$>($-&(&(+($dcG:B<C$J?JA:BC=;<O3$>?9:T<$<$G:JV

JP?AG=;<O$8:OBD<$;:$G=@<JAG:Q<f$A?B:G;?@?$8;:D:$<$8;:D:$?LJCEK<V

B:;<Oe$?L?8;:T=;<=$JT<A:=AJO$JR?9;MP$9?$JA=>=;<$JP=r=;<O$J$>G?A<V

B?>?JA:BC=;;MP$?L?8;:T=;<=P3$ =JC<$?;?$:JJ?Q<<GE=AJO$ J$;<P$B$Q=V

C?P3$;=JP?AGO$;:$<R$?A9=CH;M=$G:8C<T<O(

p:P=A<P3$TA?$J?B>:9=;<=$?A9=CH;MR$WC=P=;A?B$?L?8;:T=;<O$J:P?

>?$J=L=$;=$P?K=A$JCEK<AH$?J;?B:;<=P$9CO$>G<;OA<O$G=r=;<O$?$J?B>:V

9=;<<$>G?A<B?>?JA:BC=;;MR$?L?8;:T=;<I$9?$JA=>=;<$JP=r=;<O($p:9:V

T:$JG:B;=;<O$9BER$?L?8;:T=;<I3$<C<$?LG:8?B$,J<PB?C<D<$<C<$:AG<LEV

A<D</$C<rH$;:$>=GBMI$B8@CO9$D:K=AJO$>G?JA?I^$D:D$>G:B<C?3$?;:$AG=V

LE=A$ WDJ>=GA;?@?$G=r=;<O($p9=JH$B>?C;=$P?K=A$LMAH$>G<P=;=;$>?9V

R?93$>G<P=;O=PMI$B$>G:DA<D=$G=@<JAG:Q<<$A?B:G;MR$8;:D?B3$<8C?K=;V

;MI$B$dcG:B<C:R$J?JA:BC=;<O3$>?9:T<$<$G:JJP?AG=;<O$8:OBD<$;:$G=@<V

JAG:Q<f$A?B:G;?@?$8;:D:$<$8;:D:$?LJCEK<B:;<Oe($[?LJAB=;;?$P=A?V

9<D:$<JJC=9?B:;<O$LE9=A$?J;?BMB:AHJO$>G<$WA?P$;:$a=A?9<T=JD<R$G=V

RT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

RS

1$+/0

)*6

-#4

%/)#&

+,

?>G=9=C=;;?I$J?Q<:CH;?I$@GE>>M($u=P$J:PMP$9:;;?I$?Ln;?JA<$>G<V

><JMB:fAJO$?L?Ln=;;M=$?AG<Q:A=CH;M=$JB?IJAB:3$N?GP<GEfn<=$>J<V

R?C?@<T=JDEf$EJA:;?BDE$;=>G<O8;=;;?@?$?A;?r=;<O$D$T=C?B=DE$<C<

@GE>>=$C<Q$>?$>G<8;:D:P$>?C:3$G:JM3$;:Q<?;:CH;?JA<3$O8MD:3$>G?<JV

R?K9=;<O3$ ?A;?r=;<O$ D$ G=C<@<<3$ :$ G:B;?$ >G<;:9C=K;?JA<$ D$ D:D?IV

C<L?$J?Q<:CH;?I$@GE>>=(

cG<$;:8;:T=;<<$JE9=L;?I$WDJ>=GA<8M$<$N?GPEC<G?B:;<<$B?>G?V

J?B$ WDJ>=GAE$B:K;?$T=AD?$G:8@G:;<T<AH$>?C;?P?T<O$WDJ>=GA:3$9:fV

n=@?$8:DCfT=;<=$;:$?J;?B=$J>=Q<:CH;MR$8;:;<I3$<$fG<JA:3$DB:C<N<V

Q<GEfn=@?$G=T=B?I$:DA$D:D$>G:B?;:GEr=;<=$J$ET=A?P$=@?$?Ls=DA<BV

;?I$ <$ JELs=DA<B;?I$ JA?G?;M($ U=9?>EJA<P?$ JA:B<AH$ ;:$ G:8G=r=;<=

WDJ>=GA:$B?>G?JM$?$;:C<T<<$B$A=DJA=$>G<8;:D?B$J?JA:B:$>G:B?;:GEV

r=;<O3$B$T:JA;?JA<3$;:C<T<O$<C<$?AJEAJAB<O$B$A=DJA=$d>ELC<T;MR$>G<V

8MB?B$ D$ ?JEn=JABC=;<f$ WDJAG=P<JAD?I$ 9=OA=CH;?JA<e^$ d>G<8;:D?B

B?8LEK9=;<O$ J?Q<:CH;?I3$ G:J?B?I3$ ;:Q<?;:CH;?I$ <C<$ G=C<@<?8;?I

;=;:B<JA<$C<L?$BG:K9Me^$d>G<8;:D?B$E;<K=;<O$;:Q<?;:CH;?@?$9?JV

A?<;JAB:$T=C?B=D:3$C<L?$@GE>>M$C<Qe^$d?JD?GLC=;<O3$8:AG:@<B:fn=V

@?$;:Q<?;:CH;M=$<C<$G=C<@<?8;M=$TEBJAB:e$<$A(>($b$>G?A<B;?P$JCET:=

8:DCfT=;<=$WDJ>=GA:$P?K=A$LMAH$>G<8;:;?$;=9?>EJA<PMP$9?D:8:A=CHV

JAB?P3$>?JD?CHDE$WDJ>=GA3$?AB=T:fn<I$;:$>G:B?BM=$B?>G?JM3$BMR?V

9<A$8:$>G=9=CM$JB?=I$D?P>=A=;Q<<(

L"h" /FB>CF@JaFC\c6NZAN>B6EAZ>H\]6H>Z?>N>H

-($7P=fAJO$C<$B$JfK=A:R3$>?D:8:;;MR$A=C=D?P>:;<=I$d(((e3$JC?B:3

BMG:K=;<O$<C<$BMJD:8MB:;<O3$J?9=GK:n<=$;=@:A<B;M=$?Q=;D<$B$:9V

G=J$D:D?IVC<L?$?9;?I$;:Q<?;:CH;?I3$D?;N=JJ<?;:CH;?I$<C<$J?Q<:CHV

;?I$@GE>>M$>?$JG:B;=;<f$J$9GE@<P<$J?Q<:CH;MP<$D:A=@?G<OP<�

+($7P=fAJO$C<$BMJD:8MB:;<O3$J?9=GK:n<=$G=8DEf$;=@:A<B;Ef$?Q=;V

DE$<C<$BMG:K:fn<=$;=>G<O8;=;;?=3$BG:K9=L;?=$?A;?r=;<=$>?$?A;?V

r=;<f$;=$D$?A9=CH;MP$>G=9JA:B<A=COP3$:$D?$BJ=I$WA;<T=JD?I$@GE>>=�

�JC<$=JAH3$A?$B$D:D?I$N?GP=$?;<$BMG:K=;M\$EAB=GK9=;<O3$P;=;<O3$WP?V

Q<?;:CH;?VWDJ>G=JJ<B;?I$?Q=;D<3$ JELs=DA<B;?@?$?Q=;?T;?@?$JEK9=V

;<O$<$A(>(�

%($ �BCO=AJO$ C<$ :BA?G?P$ BMJD:8MB:;<I3$ J?9=GK:n<R$ ;=@:A<B;Ef

?Q=;DE3$BMJD:8MB:=PEf$B$:9G=J$D:D?IVC<L?$WA;<T=JD?I3$ J?Q<:CH;?I

@GE>>M3$G=9:DQ<O$[a7$,G=9:DQ<?;;:O$D?CC=@<O/3$<C<$BMJD:8MB:;<O

J$?AG<Q:A=CH;?I$?Q=;D?I$9:;M$B$B<9=$Q<A:A3$>=GJ?;:CH;MR$P;=;<I

G=J>?;9=;A?B3$C<T;?@?$P;=;<O$D?PP=;A:A?G:3$D?GG=J>?;9=;A:$<C<$D:V

D<RVC<L?$?N<Q<:CH;MR$C<Q�

&($7P=fAJO$C<$BMJD:8MB:;<O3$J?9=GK:n<=$>G?>:@:;9E$;=>?C;?Q=;V

;?JA<$@G:K9:;$D:D?IVC<L?$;:Q<?;:CH;?JA<$<C<$J?Q<:CH;?I$@GE>>M

>?$JG:B;=;<f$J$9GE@?I$;:Q<=I$<C<$@GE>>?I�

?Q=;D=$;:ET;?I$?L?J;?B:;;?JA<3$?Ls=DA<B;?JA<$<$9?JA?B=G;?JA<$WDV

J>=GA;?@?$8:DCfT=;<O($p:T:JAEf$B$9=C=$?D:8MB:fAJO$8:DCfT=;<O$WDJV

>=GA?B$ <$ J>=Q<:C<JA?B3$ J?9=GK:n<=$ B8:<P?<JDCfT:fn<=$ BMB?9M(

b?>G?J$?Q=;D<$A:D<R$>G?A<B?G=T<BMR$9?D:8:A=CHJAB3$>?CET=;;MR$;:

?J;?B=$J>=Q<:CH;MR$8;:;<I3$JA:;?B<AJO$BJ=$L?C==$:DAE:CH;MP($b$J=A<

7;A=G;=A$B$ 8:n<AE$G:9<D:CH;MR$WC=P=;A?B$JA:C<$G:J>G?JAG:;OAHJO

P:A=G<:CM3$J?9=GK:n<=$G=D?P=;9:Q<<$>?$>G?A<B?9=IJAB<f$?Ls=DA<BV

;?PE$G:JJC=9?B:;<f$WDJAG=P<JAJD<R$>G?OBC=;<I$>?JG=9JAB?P$d?G@:V

;<8:Q<<e$;:8;:T=;<O$JE9=L;MR$WDJ>=GA<8$dJB?<Pe$WDJ>=GA:P$<C<$>G<V

BC=T=;<O$dJB?<Re$J>=Q<:C<JA?B$9CO$?>G?B=GK=;<O$BMB?9?B$WDJ>=GA?B(

b$D:T=JAB=$?Ls=DA:$JE9=L;?I$WDJ>=GA<8M$B$9=C:R$>?$JA(JA($+*23$+*+

!#$SF$BMJAE>:=A$G=T=B?=$J??Ln=;<=3$D?A?G?=$;?J<A$>ELC<T;MI$R:V

G:DA=G$<$<P==A$?>G=9=C=;;Ef$J?9=GK:A=CH;?VJPMJC?BEf$<$>G:@P:A<V

T=JDEf$ ;:>G:BC=;;?JAH($ cG:B?B:O$ DB:C<N<D:Q<O$ G=T=BMR$ :DA?B$ ;:

>G=9P=A$;:C<T<O$J?JA:B:$>G=JAE>C=;<O$WDJAG=P<JAJD?@?$A?CD:3$AG=LEV

=A$>G<P=;=;<O$D?P>C=DJ;?@?$>?9R?9:$J$?>?G?I$;:$J>=Q<:CH;M=$8;:V

;<O3$>G=K9=$BJ=@?$B$?LC:JA<$JE9=L;?I$C<;@B<JA<D<(

bMOBC=;<=$JPMJC?B?I$;:>G:BC=;;?JA<$BMJD:8MB:;<I$WDJAG=P<JAV

JD?@?$A?CD:3$G:8?LC:T=;<=$ JDGMAMR$>G<=P?B$>G<8MB:3$>G?>:@:;9M3

?>G:B9:;<O$<C<$?L?J;?B:;<O$WDJAG=P<JAD?I$9=OA=CH;?JA<3$ J?Q<:CHV

;?I$BG:K9M$<$;=;:B<JA<$OBCO=AJO$Q=;AG:CH;MP$8B=;?P$B$EJA:;?BC=V

;<<$>G?A<B?>G:B;?JA<$G=T=B?@?$9=O;<O$<C<$<;N?GP:Q<?;;?@?$P:A=V

G<:C:($b$JBO8<$J$WA<P$JC=9E=A$ED:8:AH$;:$;=D?A?GM=$?J?L=;;?JA<$EJAV

;MR$ BMJD:8MB:;<I3$ 9?DEP=;A?B$ <$ <;MR$ P:A=G<:C?B3$ >?9B=G@:=PMR

WDJ>=GA<8=$;:$>G=9P=A$BMOBC=;<O$B$;<R$>G<8;:D?B$WDJAG=P<8P:(

b?V>=GBMR3$>ELC<T;?JAH$>G=9>?C:@:=A3$TA?$>G<8MBM3$<;N?GP:Q<?;V

;M=$P:A=G<:CM$WDJAG=P<JAJD?@?$A?CD:$>G=9;:8;:T=;M$<P=;;?$9CO$>ELV

C<T;?@?$B?J>G<OA<O$<$G:J>G?JAG:;OfAJO$,EJA;?3$><JHP=;;?$<C<$J$>?P?V

nHf$A=R;<T=JD<R$JG=9JAB3$BDCfT:O$>=T:A;M=$<$WC=DAG?;;M=$[a73$JCEKV

LM${�{VJ??Ln=;<I3$WC=DAG?;;M=$G:JJMCD<$>?$C?D:CH;MP$<$J?Q<:CH;MP

J=AOP3$J:IAM$7;A=G;=A:$<$A(>(/($XAC<T<A=CH;?I$T=GA?I$>G<8MB?B$OBCO=AV

JO$<R$C?8E;@?BMI3$?L?Ln=;;MI$R:G:DA=G($X;<$;=$?LG:n=;M$>=GJ?;:CHV

;?$D$D:D?PEVC<L?$D?;DG=A;?PE$:9G=J:AE$<$;=$J?9=GK:A$ED:8:;<O$?$D?;DV

G=A;?P$P=JA=3$BG=P=;<$<$J>?J?L=$J?B=Gr=;<O$WDJAG=P<JAJD<R$9=IJAB<I(

b?VBA?GMR3$ J>=DAG$WDJAG=P<JAJD<R$BMJD:8MB:;<I$;=$?@G:;<T<B:V

=AJO$A?CHD?$O8MD?B?I$N?GP?I$>GOP?@?$>G<8MB:3$;?$P?K=A$LMAH$>G=9V

JA:BC=;$<$BMJD:8MB:;<OP<3$?>G:B9MB:fn<P<$<C<$?L?J;?BMB:fn<V

P<$ WDJAG=P<JAJDEf$ 9=OA=CH;?JAH3$ >G?>:@:;9?I$ <JDCfT<A=CH;?JA<3

>G=B?JR?9JAB:$<C<$;=>?C;?Q=;;?JA<$?9;?I$J?Q<:CH;?I3$;:Q<?;:CHV

;?I$<C<$G=C<@<?8;?I$?Ln;?JA<3$@GE>>M$>?$?A;?r=;<f$D$9GE@?I(

bVAG=AH<R3$>G<$BMJD:8MB:;<<$;=;:B<JA;<T=JD<R$<9=I$B$A=DJA=3$D:D

>G:B<C?3$?AJEAJABE=A$ED:8:;<=$;:$D?;DG=A;MR$Cf9=I$C<L?$<R$<P=;:

>G<B?9OAJO$ A?CHD?$ B$ D:T=JAB=$ <CCfJAG:Q<<$ ?Ln=I$ dBG:K9=L;?JA<e

Rh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

RI

1$+/0

)*6

-#4

%/)#&

+,

L"I"`8?ACF?^6NZ>?@DX6Za=GABDfAXb

]=*=0L1E*C()2#&#*B'4=0"J&DJ

U:B=G;OD:$L?CHr<;JAB?$;=Gf;@G<;Q=B$P?@C<$B<9=AH$C<JA?BD<$>?V

9?L;M=$A?I3$TA?$;:$N?A?($7R$G:JDC=<B:C<$;:$9B=GOR$>?9s=89?B3$DC:C<

B$>?TA?BM=$On<D<(

#$>G<8MBE$WA<R$W><JA?C$E$dcUe$?A;?r=;<=$;=$?9;?8;:T;?=($b?V

>=GBMR3$OB;?$;=>G<OA;?$>?>:R<B:=A$B=C<D?GEJJD<P$r?B<;<8P?P($":K=

=JC<$J?@C:J<AHJO$J$>G?A=JA?P$>G?A<B$>G<BC=T=;<O$D<A:IJD<R$@:JA:GV

L:IA=G?B$;:$JAG?<A=CHJAB?$b[uX3$A?$C?8E;@$dSEJJD<P$G:L?T<P$<$<;V

K=;=G:P$9?JA?I;Ef$G:L?AE$<$8:G>C:AEe$8BET<A$D:DVA?$;=J>G:B=9C<B?(

_$D:D$K=$G:L?T<=$<$<;K=;=G:$9GE@<R$;:Q<?;:CH;?JA=I�$7P$G:L?AE$<

8:G>C:AE$9?JA?I;Ef$;=$;:9?�

U?$dcUe$G=r<C:$B?BJ=$;=$JA:B<AH$>=G=9$J?L?I$8:9:TE$:;:C<8<G?V

B:AH$<$>?9B=G@:AH$DG<A<D=$WA?A$C<JA?D3$WA<P$B>C?A;Ef$8:;OC<JH$>G:V

B??RG:;<A=CH;M=$?G@:;M($#:D$JA:C?$<8B=JA;?3$;:$>G?rC?I$;=9=C=$B

U=Gf;@G<$8:B=9=;?$E@?C?B;?=$9=C?$>?$N:DAE$G:JDC=<B:;<O$WA<R$C<JV

A?B?D3$D?A?GM=$BC:JA<$J?TC<$;:Q<?;:C<JA<T=JD<P<($"=C?$B=9=A$>G?V

DEG:AEG:$@($U=Gf;@G<$J?BP=JA;?$J$!F[0$SF$>?$S[,�/($b$T<JC=$>?9?V

8G=B:=PMR$B$J?B=Gr=;<<$9=IJAB<I3$;:>G:BC=;;MR$;:$B?8LEK9=;<=$;=V

;:B<JA<$C<L?$BG:K9M3$:$G:B;?$E;<K:fn<R$T=C?B=T=JD?=$9?JA?<;JAB?

6($7P=fAJO$C<$BMJD:8MB:;<O3$J?9=GK:n<=$>G<8MBM$D$?JEn=JABC=V

;<f$D:D<RVC<L?$BG:K9=L;MR$<C<$;:J<CHJAB=;;MR$9=IJAB<I$>?$?A;?V

r=;<f$D$C<Q:P$D:D?IVC<L?$;:Q<?;:CH;?JA<�

1($7P=fAJO$C<$BMJD:8MB:;<O$E;<T<K<A=CH;?@?$R:G:DA=G:$>?$?A;?V

r=;<f$D$C<Q:P$D:D?IVC<L?$;:Q<?;:CH;?JA<3$WA;<T=JD?I$<C<$J?Q<:CHV

;?I$@GE>>M�

'($7P=fAJO$C<$BMJD:8MB:;<O$>?LE9<A=CH;?@?$R:G:DA=G:$<C<$NG:V

8M$B$N?GP=$9<G=DA<B;?@?$>G=9><J:;<O$D$9=IJAB<OP$B$>?CH8E$?9;?I

J?Q<:CH;?I$@GE>>M$B$En=GL$9GE@?I�

*($7P=fAJO$C<$BMJD:8MB:;<O3$D?A?GM=$J$A?TD<$8G=;<O$J?BG=P=;;?V

@?$;?J<A=CO$GEJJD?@?$O8MD:$P?K;?$<JA?CD?B:AH$D:D$>G<><JMB:;<=$BJ=P

>G=9JA:B<A=COP$?9;?I$WA;<T=JD?I$@GE>>M$JC=9?B:;<O$9G=B;<P$?LMV

T:OP3$B=G?B:;<OP3$ AG:9<Q<OP$9=IJAB<I3$;=@:A<B;?$?Q=;<B:=PMR$J?V

BG=P=;;?I$G?JJ<IJD?I$DECHAEG?I�

)($�JAH$C<$BMJD:8MB:;<O$B$N?GP=$EAB=GK9=;<O$?$>G<G?9;?P$>G=V

B?JR?9JAB=$?9;?I$;:Q<<$<$;=>?C;?Q=;;?JA<3$>?G?T;?JA<$9GE@?I�

-2($�JAH$C<$BMJD:8MB:;<O3$J?9=GK:n<=$EAB=GK9=;<O$?$B?8C?K=;<<

?AB=AJAB=;;?JA<$8:$9=O;<O$?A9=CH;MR$>G=9JA:B<A=C=I$;:$BJf$WA;<T=JV

DEf$@GE>>E�

--($�JAH$C<$BMJD:8MB:;<O$>?LE9<A=CH;?@?$R:G:DA=G:3$J?9=GK:n<=

>G<8MBM$D$BG:K9=L;MP$<C<$;:J<CHJAB=;;MP$9=IJAB<OP$B$?A;?r=;<<

C<Q$?>G=9=C=;;?I$;:Q<?;:CH;?JA<3$?9;?I$J?Q<:CH;?I$@GE>>M$>G?A<B

9GE@?I�

-+($�JAH$C<$BMJD:8MB:;<O$?L$<8;:T:CH;?I$BG:K9=L;?JA<$D:D?IVC<L?

;:Q<<�

-%($�JAH$C<$BMJD:8MB:;<O$?$>?COG;?I$>G?A<B?>?C?K;?JA<3$:;A:V

@?;<8P=3$>G<;Q<><:CH;?I$;=J?BP=JA<P?JA<$<;A=G=J?B$?9;?I$WA;<T=JV

D?I$@GE>>M$>?$?A;?r=;<f$D$D:D?IVC<L?$9GE@?I�

-&($�JAH$C<$BMJD:8MB:;<O3$@9=$L=9JAB<O3$;=LC:@?>?CET<=$B$>G?rC?P3

;:JA?On=P$<$LE9En=P$?9;?I$J?Q<:CH;?I3$WA;<T=JD?I$<C<$D?;N=JJ<?V

;:CH;?I$ @GE>>M$ ?LsOJ;OfAJO$ JEn=JAB?B:;<=P$ <$ Q=C=;:>G:BC=;;?I

9=OA=CH;?JAHf$ ,9=IJAB<OP</$9GE@?I$;:Q<<3$;:G?9;?JA<3$ J?Q<:CH;?I

<C<$WA;<T=JD?I$@GE>>M�

-6($ 7P=fAJO$ C<$ BMJD:8MB:;<O$ ?$ BG:K9=L;MR$ ;:P=G=;<OR$ D:D?IV

C<L?$;:Q<<$B$Q=C?P�

-1($7P=fAJO$C<$BMJD:8MB:;<O3$J?9=GK:n<=$>?C?K<A=CH;M=$?Q=;V

D<3$B?JRB:C=;<=$@=;?Q<9:3$9=>?GA:Q<<3$G=>G=JJ<I$B$?A;?r=;<<$>G=9V

JA:B<A=C=I$D:D?IVC<L?$;:Q<<3$D?;N=JJ<<3$WA;<T=JD?I$@GE>>M�

-'($7P=fAJO$C<$BMJD:8MB:;<O3$J?9=GK:n<=$AG=L?B:;<O3$>G<8MBM

D$?@G:;<T=;<f$D?;JA<AEQ<?;;MR$>G:B$<$JB?L?9$@G:K9:;$D:D<RVC<L?

WA;<T=JD<R3$D?;N=JJ<?;:CH;MR$<C<$J?Q<:CH;MR$@GE>>�

-*($7P=fAJO$C<$BMJD:8MB:;<O$ J$>G<8MB:P<$9:AH$>G<B<C=@<<$?AV

9=CH;MP$@G:K9:;:P$<C<$@GE>>:P$C<Q3$?Ls=9<;=;;MR$>?$;:Q<?;:CHV

;?PE3$D?;N=JJ<?;:CH;?PE$<C<$<;?PE$J?Q<:CH;?PE$>G<8;:DE�

*$ [A:AHO$dXA$AGELM$>?B:C<C$WDJAG=P<8Pe$LMC:$?>ELC<D?B:;:$B$ @:8=A=$dU=8:B<J<P:O

;=Gf;@G<;JD:O$@:8=A:$§cG?JA?$UfGD:§e$+)$:B@EJA:$+22'$@?9:$q$%6$,+21/(

RL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

RM

1$+/0

)*6

-#4

%/)#&

+,

?Ls=P?B$>G?<8B?9JAB:$>G=9>G<OA<OP<$J:PMR$G:8;MR$?AG:JC=I$]$K=C=8V

;?9?G?K;<D:P<3$:BA?P?L<C<JA:P<3$JAG?<A=COP<3$W;=G@=A<D:P<(

4?B?GO$ ?$ >G?T<R$ >?C=8;?JAOR$ JAG?<A=CHJAB:$ AGEL?>G?B?9:3$ ;:P

JEC<C<$]$�0E9=A$>?JAG?=;?$6*2$D<C?P=AG?B$BG=P=;;MR$9?G?@(

dU:$;=NA=>G?B?9$J$;:9=K9?I$JP?AGOA$;=Gf;@G<;JD<=$JAG?<A=C<3

K=C=8;?9?G?K;<D<3$W;=G@=A<D<3$:BA?P?L<C<JAM($S:L?T<R$GED$>?AG=V

LE=AJO$;:P;?@?$L?CHr=3$T=P$=JAH$B$U=Gf;@G<($[=@?9;O$B$;:r=P$@?G?V

9=$8:G=@<JAG<G?B:;?$'&)$L=8G:L?A;MR3$:$A?CHD?$E>G:BC=;<f$WDJ>CE:V

A:Q<<$;=NA=>G?B?9:$B$;:r=P$G=@<?;=$>?AG=LE=AJO$'22$G:L?T<R$P=JAe(

7C<$B?A$A:D<=$?L=AM$B$9ER=$d;HfVb:JfD<e\$db$J??AB=AJAB<<$J$9=IV

JABEfn<P$8:D?;?9:A=CHJAB?P$BJ=$<J>?C;<A=C<$<$>?9GO9T<D<$LE9EA

?>G=9=COAHJO$ ;:$ D?;DEGJ;?I$ ?J;?B=3$ >?$ <A?@:P$ A=;9=G?B($ U?$ WA?$ B

U=Gf;@G<$;<D?@?$;=$>E@:=A3$>?JD?CHDE$E$P=JA;MR$>G=9>G<OA<I$=JAH

BJ=$r:;JM$BM<@G:AH$>G=9JA?On<=$D?;DEGJMe(((

7$D:D$<A?@\$dcG?B=9=;;M=$B$U=Gf;@G<;JD?P$G:I?;=$?Ln=JAB=;V

;M=$JCEr:;<O$<$WD?C?@<T=JD:O$WDJ>=GA<8:3$r<G?D:O$>?99=GKD:$;=NV

A=>G?B?9:$P=JA;MP$;:J=C=;<=P$>?8B?COfA$;:9=OAHJO$;:$EJ>=r;?=$JAG?V

<A=CHJAB?$J??GEK=;<O$<$=@?$9:CH;=IrEf$G=8ECHA:A<B;Ef$9=OA=CH;?JAH(

"CO$;=Gf;@G<;Q=B$JAG?<A=CHJAB?$AGEL?>G?B?9:3$D?A?G?=$>?$;:r=I

A=GG<A?G<<$ LE9=A$ ?JEn=JABCOAHJO$ J$ P?P=;A:$ ?D?;T:;<O$ >G?=DA;MR

G:L?A$9?$9=D:LGO$+22*$@(3$JA:;=A$JB?=@?$G?9:$dP?P=;A?P$<JA<;Me($U=V

Gf;@G<;QM$]$?J?LMI$;:G?93$D?A?GMI$+6]%2$C=A$;:8:9$;=$>G?JA?$>G<V

;<P:C$ET:JA<=$B$B?8B=9=;<<$C=@=;9:G;?I$0:ID:C?V_PEGJD?I$P:@<JAV

G:C<3$;?$<$J:P$9CO$J=LO$>?JAG?<C$DG:J:B=QV@?G?93$B$D?A?G?P$J=@?9;O

PM$K<B=P($a?K=P$C<$PM$>?JAG?<AH$;=NA=>G?B?9$>?$JB?=I$A=GG<A?V

G<<$A:D3$TA?LM$>?A?P$P?@C<$<P$@?G9<AHJO$A:D$K=3$D:D$@?G9<PJO$J=@?9V

;O$JB?<P$@?G?9?P$<$0_a?P�

[=@?9;O$B$U=Gf;@G<$?T=;H$P;?@<=$B=GOA$B$A?3$TA?$;=NA=;?J;:O$AGEV

L:$JA:;=A$A:D?I$K=$R:G:DA=G;?I$?J?L=;;?JAHf3$dB<8<A;?I$D:GA?TD?Ie

@?G?9:3$D:D<P<$JA:C<$E@?CH;MI$G:8G=83$U=Gf;@G<;JD:O$4SZ[$<$K=V

C=8;:O$9?G?@:e(

b?A$A:D$B$9ER=$J?QG=:C<8P:$K<B?><J:C$<8B=JA;MI$;=Gf;@G<;JD<I

:BA?G$;:JAG?=;<O$<$;:9=K9M$JB?<R$8=PCOD?B($cG:B<CH;?$><J:C3$A:D<V

P<$?;<$<$LMC<$A?@9:($c?D:$;=$;:JAE><C$dP?P=;A$<JA<;Me�

6(J"3=*&4=&3E.*&#&*'&=25KE*)*i"0g3@0&

u?CHD?$;:$ JAG?<A=CHJAB=$;=NA=>G?B?9:$b?JA?T;:O$[<L<GH$]$u<V

R<I$?D=:;$,b[uX/$>C:;<G?B:C?JH$8:9=IJAB?B:AH$%6$AMJ($T=C?B=D3$:$;:

?LJCEK<B:;<<$@?A?B?@?$AGEL?>G?B?9:$]$L?C==$*$AMJ($c?$>G<D<9D:P

G=J>ELC<D:;JD<R$BC:JA=I$D$+2+2$@?9E$EG?B=;H$L=8G:L?A<QM$B$G=J>ELV

C<D=$9?CK=;$LMC$J;<8<AHJO$>?TA<$;:>?C?B<;E($U?�

a?P=;A$<JA<;M$JA:C$G:JDGMB:AHJO$9?B?CH;?$JD?G?($U=Gf;@G<;Q=B

;:$JAG?<A=CHJAB?$;=NA=>G?B?9:$>?$G:8;MP$>G<T<;:P$;=$LG:C<($m?AO

,T($-$JA($+*+$!#$SF/3$B?8LEK9:fn<R$P=K;:Q<?;:CH;Ef$<$P=KG=C<@<V

?8;Ef$BG:K9E$]$EG?K=;=Q$@($U=Gf;@G<3$;<@9=$;=$G:L?A:fn<I$++VC=AV

;<I$@G($a(3$:$A:DK=$+-VC=A;<I$G:L?A;<D$X_X$d�DEAE@?CHe$@G(c($#:D

J??Ln:=A$ >G=JJVJCEKL:$ >G?DEG:AEGM$ G=J>ELC<D<3$ 9?D:8:A=CHJAB:3

>?9AB=GK9:fn<=$>G<T:JA;?JAH$ED:8:;;MR$C<Q$D$J?B=Gr=;<f$9:;;?V

@?$>G=JAE>C=;<O3$<P=fAJO($b$?A;?r=;<<$>?9?8G=B:=PMR$<8LG:;:$P=G:

>G=J=T=;<O$B$B<9=$>?9><JD<$?$;=BM=89=(

dcUe$ BJ=@?$ C<rH$ >MA:=AJO$ >?;OAH3$ >?T=PE$ B$ ;:r=P$ @?G?9=3$ @9=

;<D?@9:$;=$LMC?$<$P:C=Ir<R$BJ>C=JD?B$;:Q<?;:CH;?I$BG:K9M3$B9GE@

B?8;<DC?$A:D?=(

�JAH$B$C<JA?BD=$<$P?P=;A3$J$D?A?GMP$dcUe$J?C<9:G;:$BJ=Q=C?($�@?

PM$>G?Q<A<GE=P$Q=C<D?P\$db$EJC?B<OR$L=8G:L?A<QM$B$U=Gf;@G<$<

_PEGJD?I$?LC:JA<3$>G<BC=D:AH$D<A:IQ=B$;:$JAG?<A=CHJAB?$b[uX3$>?9

?ADG?B=;;?$<89=B:A=CHJD<P$C?8E;@?P$<R$9=r=B<8;M$]$WA?$?ADG?B=;V

;MI$>C=B?D$B$C<Q?$b[�a$K<A=COP$U=Gf;@G<�e(

u:D3$BMR?9<A3$:BA?GM$WA?@?$>?JC:;<O$B<9OA$D?G=;H]>=GB?>G<T<;E

B?BJ=$;=$B$dD<A:IJD?I$?DDE>:Q<<e3$;=$D<A:IQM$BJ=PE$B<;?I3$:$A=3$DA?

<R$>G<BC=D:=A($b=9H$;:$P=JA=$D<A:IQ=B$P?@C<$LMAH$<;9?;=8<IQM3$;:V

>G<P=G3$?;<$A?K=$;:$GM;D=$G:LJ<CM$9=r=B?$JA?OA(

7A:D3$>?9EP:=P$;:9$>G<T<;:P<\$D:D$PM$9?$K<8;<$A:D?I$9?D:A<V

C<JH3$<C<$DA?$;:J$9?D:A<C�

i"0g3@0&3K")*'&3L#&

�n=$J?BJ=P$;=9:B;?$]$-6$9=D:LGO$+221$@?9:$=K=;=9=CH;<D$da?C?V

9=KH$�DEA<<e$?>ELC<D?B:C:$P:A=G<:C$;=Gf;@G<;JD?@?$KEG;:C<JA:

XC=@:$[?C?9ER<;:$dU_�_e$uS!0_e(

7P=;;?$A:D$?$;=NA=>G?B?9=$b[VuX$@?B?G<C<$A?@9:$;=Gf;@G<;QM(

db$A?$BG=PO$D:D$B$�DEAJD=$WD?C?@<T=JD:O$?Ln=JAB=;;?JAH$;:?AG=8$?AV

D:8MB:=AJO$?9?LG<AH$>C:;M$JAG?<A=CHJAB:$b[uX$,>?JD?CHDE$JT<A:fA

<R$9?$D?;Q:$;=>G?9EP:;;MP<$J$WD?C?@<T=JD?I$A?TD<$8G=;<O/3$K<A=C<

U=Gf;@G<$K9EA$;:T:C:$JAG?<A=CHJAB:$;=NA=>G?B?9:$J$;=A=G>=;<=P($[

>G?DC:9D?I$ <$ G:L?A?I$ dAGELMe$ ;=Gf;@G<;QM$ JBO8MB:fA$ L?CHr<=

;:9=K9Me3$d�U?B?JAH$?$>G=9JA?On=P$>G?R?K9=;<<$P:@<JAG:CH;?@?

AGEL?>G?B?9:$T=G=8$U=Gf;@G<$K<A=C<$WA?@?$@?G?9:$>G<;OC<$=JC<$<

;=$J$B?JA?G@?P3$A?3$D:D$P<;<PEP3$J$?@G?P;MP$W;AE8<:8P?P($[?$BG=P=;

<JA?G<T=JD?@?$JAG?<A=CHJAB:$0:ID:C?V_PEGJD?I$P:@<JAG:C<$<$B?8B=V

9=;<O$JB?=@?$G?9;?@?$@?G?9:$;=Gf;@G<;QM$;=$B<9=C<$JAG?=D$A:D?@?

EG?B;O$ <;A=;J<B;?JA<e3$ ]$ D?;JA:A<G?B:C$ ;:r$ 8=PCOD3$ EAB=GK9:O$]

U�S`U4S7$p_$U�Fu�cSXbX"$d0��u[�e�

4?B?GO$?$G:L?T<R$P=JA:R$G=J>ELC<D:;JD<=$[a7$>=JAG=C<$G:9EK;MV

P<$?L=n:;<OP<\$;:$>=GB?P$WA:>=$]$G=TH$<9=A$?$JAG?<A=CHJAB=$AGEL?>G?V

B?9:$ ]$ >?AG=LE=AJO$ L?CHr?=$ D?C<T=JAB?$ G:L?T<R$ GED$ ,EK=$ J=@?9;O

duG:;J;=NAHe$B=9=A$G=TH$?$-+$AMJOT:R$G:L?T<R/$<$G=8D?@?$EB=C<T=;<O

RO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

RP

1$+/0

)*6

-#4

%/)#&

+,

;<O3$;=9?JA:A?T;?=$D?C<T=JAB?$[[!p?B3$TA?$>G<B=C?$D$E>:9DE$BJ=I

J<JA=PM$JG=9;=@?$>G?N=JJ<?;:CH;?@?$?LG:8?B:;<O($b$G=8ECHA:A=3$>G<

9?B?CH;?$BMJ?D?P$EG?B;=$L=8G:L?A<QM$P=JA;?@?$;:J=C=;<O$B$P=JA:R

>G?PMrC=;;?@?$?JB?=;<O$[=B=G:3$;:LCf9:=AJO$9=N<Q<A$DB:C<N<Q<V

G?B:;;?I$G:L?T=I$J<CM($#?P>:;<O$duG:;J;=NAHe$?nEA<C:$WAE$>G?V

LC=PE$B$>?C;?I$P=G=3$B=9H$;=NA=>G?B?9$]$?Ls=DA$>?BMr=;;?I$?AB=AV

JAB=;;?JA<$ <$ ?>:J;?JA<($ U=DB:C<N<Q<G?B:;;M=$ G:L?T<=$ >G?JA?$ ;=

P?@EA$J>G:B<AHJO$J$8:9:T:P<3$D?A?GM=$>=G=9$;<P<$JA:BOAJO3$<$;=$BC:V

9=fA$;?BMP<$A=R;?C?@<OP<(

�n=$B$+222$@($LMC?$>G<;OA?$c?JA:;?BC=;<=$cG:B<A=CHJAB:$SF$dX

D?;Q=>Q<<$@?JE9:GJAB=;;?I$>?99=GKD<$WD?;?P<T=JD?@?$<$J?Q<:CH;?V

@?$G:8B<A<O$G:I?;?B$[=B=G:e3$@9=$>G=9C:@:C?JH$G:L?TEf$J<CE$;:L<G:AH

<P=;;?$B$J=B=G;MR$G:I?;:R$;:J=C=;<O3$:9:>A<G?B:;;?@?$D$JEG?BMP$EJV

C?B<OP3$:$;=$8:$JT=A$>G<A?D:$P<@G:;A?B$<8$9GE@<R$G=@<?;?B$JAG:;M($U?3

D:D$B<9<P3$B$WA?$c?JA:;?BC=;<=$?D:8:C?JH$L=8K<8;=;;MP($7$>G<$JAG?V

<A=CHJAB=$b[uX$BML?G$>:C$;:$9=r=BMR$D<A:IJD<R$@:JA:GL:IA=G?B(

U=J?P;=;;?3$G=:C<8:Q<O$P=@:>G?=DA?B$9?CK;:$<P=AH$9CO$�DEA<<

WD?;?P<T=JD<I$WNN=DA($U?$B?A$Cf9<$EK=3$B$T:JA;?JA<$PM$]$;=Gf;@V

G<;QM$B$WD?;?P<T=JD<I$WNN=DA$9CO$J=LO$<$JB?<R$J=P=I$EK=$;=$B=G<P(

]=*32a&F*H";0(=

4:8=A:$ d5W;HP<;H$ 5<L:?e$ ]$ >=T:A;MI$ ?G@:;$ D?P>:GA<<$ #<A:O

G:>?GAE=A\$ 8:$>?JC=9;<=$%2$C=A$T<JC?$D<A:IQ=B3$K<BEn<R$ 8:$T=GA?I

L=9;?JA<3$ J?DG:A<C?JH$J$+62$PC;($T=C?B=D$9?$%2$PC;($T=C?B=D($b$A?P

T<JC=$<$8:$JT=A$EB=C<T=;<O$G:L?T<R$P=JA($U=Gf;@G<$P?K=A$@?G9<AHJO$]

>?CA?GM$ AMJOT<$ D<A:IJD<R$ @G:K9:;$ >?>G:BOA$ JB?=$ LC:@?J?JA?O;<=3

8:G:L?A:B$;:$JAG?<A=CHJAB=$b[uX($tA?$=n=$?JA:=AJO$9=C:AH3$=JC<$G?9V

;?=$@?JE9:GJAB?$GEJJD?PE$PEK<DE$?>G=9=C<C?$P=JA?$;=$B$:GA=CH;?I

J>C?AD=3$:$8:$JA:D:;?P$B?9D<�

":3$LMC<$B$;:r=I$<JA?G<<$<$?Ln=EDG=>COfn<=$B=C<D<=$8:PMJCM3

D?@9:$S?JJ<O$JAG?<C:$NC?A3$JA:;?BOJH$P?GJD?I$9=GK:B?I3$?JB:<B:C:

[<L<GH$<$[=B=G;MI$P?GJD?I$>EAH3$B=C:$uG:;JJ<L3$:$8:A=P$0_a3$BMV

R?9<C:$B$D?JP?J((($7$;=$8B:C:$B$G:L?A;<D<$<;?8=PQ=B3$:$J?89:B:C:$G?JV

J<IJD<I$9ER$G?JJ<IJD<P$9ER?P(

tA?$A=>=GH�((($_$A=>=GH$ =JAH$>?D:$9B:$dD?8C:$?A>En=;<Oe$ @G=R?B

BC:JA<$]$9B:$P?C?9MR$>:G;O3$>G<T:JA;MR$D$G:JDC=<B:;<f$;:Q<?;:C<V

JA<T=JD<R$C<JA?B?D(

d"C#(*#&*="1".*102=*'&=2"K�

_$A=>=GH$?L$EJC?B<OR$K<8;<$D<A:IJD<R$AGE9O@$;:$ 8=PC=$U=Gf;@V

G<;JD?I(

U=9:B;?$@?G?9JD:O$>G?DEG:AEG:$>G?B=G<C:$EJC?B<O$>G?K<B:;<O

@G:K9:;$#US3$8:;OAMR$;:$JAG?<A=CHJAB=$;=NA=>G?B?9:$b[uX($#:D$J?V

duG:;J;=NAHe$B;:T:C=$DCOC:JH3$TA?$G:L?A:AH$;:$?Ls=DA:R$b[uX$LE9EA

B$?J;?B;?P$P=JA;M=$K<A=C<3$>?JC=9Efn<=$J?LMA<O$9?D:8:C<$?LG:A;?=(

_$ AG<$ P=JOQ:$ J>EJAO3$ JA:C?$ <8B=JA;?3$ TA?$ U=Gf;@G<;JD<I$ ?AG=8?D

b[uX$B??Ln=$LE9EA$JAG?<AH$D<A:IQM($XL$WA?P$LMC?$?LsOBC=;?$B$D?;V

Q=$:>G=CO$B$U=Gf;@G<$;:$BM=89;?P$8:J=9:;<<$cG:B<A=CHJAB:$S[,�/$>?

D:9G?BMP$>G?LC=P:P$G=@<?;:($duG:;J;=NAHe$A=>=GH$?L=n:C:$AGE9?EJV

AG?IJAB?$A?CHD?$9BERJ?A$K<A=C=I$G=J>ELC<D<3$>G<T=P$>?JC=$>G?R?K9=V

;<O$J>=Q<:C<8<G?B:;;?@?$?LET=;<O$B$u?PJD?P$@?JE9:GJAB=;;?P$>G?V

PMrC=;;?V@EP:;<A:G;?P$D?CC=9K=($tA?$;:8MB:=AJO3$>G<=R:C<�

U?$TA?$ J9=C:C<$;:r<$P=JA;M=$<$G=J>ELC<D:;JD<=$BC:JA<3$TA?LM

9?@?B?G<AHJO$J$duG:;J;=NAHfe$<$9?L<AHJO$?A$;==$BM>?C;=;<O$?L=n:;V

;?@?�$#:D<=$P=GM$>G<;OC<�$b=9H$B$_C9:;=$<$U=Gf;@G<$]$D:D$G:8$;:

`@=$G=J>ELC<D=3$@9=$<9=A$>G?DC:9D:$AGEL?>G?B?9:$>?D:8:A=C<$>?$L=8V

G:L?A<Q=$BMr=$JG=9;<R$>?D:8:A=C=I$>?$G=J>ELC<D=($�JC<$>?$G=J>ELV

C<D=$WA?A$>?D:8:A=CH$G:B;O=AJO$)3&�$?A$WD?;?P<T=JD<$:DA<B;?@?$;:J=V

C=;<O3$A?$B$XC=DP<;JD?P$]$*3%�3$_C9:;JD?P$]$--3)�$<$@($U=Gf;@G<$J$]

-63&�($b$�=;AG=$AGE9:$<$8:;OA?JA<$U=Gf;@G<3$B$T:JA;?JA<3$J?JA?<A$;:

ET=A=$'&)$L=8G:L?A;MR(

XLJA:;?BD:$=n=$L?CHr=$;:D:C<C:JH$>?JC=$JCET:O$8:L?C=B:;<O$@=V

>:A<A?P$B:RA?B<D?BVAGEL?>G?B?9T<D?B($4C:B:$G:I?;:$b:J<C<I$[A:GV

Q=B$;:8B:C$A?@9:$<R$J:G:;T?I3$D?A?G:O$>G?R?9<A$<$;=$<;A=G=JE=AJO$A=P3

TA?$?JA:BCO=A$>?JC=$J=LO($mC=JAD<=$JC?B:$@C:BM$A:D$<$?JA:C<JH$>G?JA?

JC?B:P<�

!$;:J$;=$>?JAG?<C<$;<$=9<;?@?$D<C?P=AG:$;?BMR$9?G?@($U:>?GA<B3

G:8L<B:fA$B9GM8@$A=3$TA?$<P==P($"B:$;?P=G:$;:8:9$dcUe$>?9;<P:C:

WAE$>G?LC=PE$B$P:A=G<:C=$U:A:CH<$#E8HP<;?I$dtH<$WA?$9?G?@<3$@?JV

>?9:�$a:GD<8:$b:I;rA?D:�e�

b?A$<$BMR?9<A3$TA?$;=Gf;@G<;Q:P$P;?@?$?L=n:C<$B;:T:C=3$G:8B=C<

;:$?Ln=JAB=;;M=$JCEr:;<O$<$D<;EC<($#:D$AE$;=$G?9<AHJO$G:8;?@?$G?9:

WDJAG=P<JAJD<P$>?PMJC:P3$A<>:$dL?ID?A$D<A:IJD<P$@:JA:GL:IA=G:P�e�((

u?CHD?$>G<T=P$89=JH$?;<$]$@:JA:GL:IA=GMVA?�$#<A:IQM$B<;?B:AM$B$A?P3

TA?$9=r=B?$?Q=;<B:fA$JB?I$AGE9�$":$8:$WA?$;:$;<R$B=JH$P<G$B$?L<9=($U?

>G<$WA?P$:K$L=@?P$>?DE>:=A$<R$9=r=BM=$B=n<($b$;:r=I$J<AE:Q<<$D<V

A:IJD<=$@G:K9:;=$B?BJ=$;=$>G<T=P($7P$9:C<$WAE$G:L?AE$G?JJ<IJD<=$BC:V

JA<$<$@C:B;MI$<;<Q<:A?G$<R$8:B?8:$[=P=;$b:I;rA?D$<$4=GP:;$4G=N(

#?;=T;?3$B:RA?B<D<$<$<;?JAG:;QM$?LR?9OAJO$D?P>:;<OP$9=r=BC=(

_$ ;:r<P$ AG=LEfAJO$ BJ=$ J?Q<:CH;M=$ BM>C:AM$ <$ A($ 9�$ #G?P=$ A?@?3

duG:;J;=NA<e$;=?LR?9<PM$DB:C<N<Q<G?B:;;M=$G:L?A;<D<3$<P=fn<=

JG=9;==$J>=Q<:CH;?=$?LG:8?B:;<=($_$;:r:$G=J>ELC<D:$B$>C:;=$>?9@?V

A?BD<$JB?<R$J>=Q<:C<JA?B3$D$J?K:C=;<f3$?D:8:C:JH$;=$@?A?B:$D$G=:C<V

8:Q<<$P=@:>G?=DA?B($b$�4!$=JAH$@?G;?V@=?C?@<T=JD<I$<;JA<AEA3$;?$?A

AE9:$BMR?9OA$B?BJ=$;=$J$G:L?T=I$J>=Q<:CH;?JAHf($c?JC=9;<=$@?9M$E

;:J$>G?<JR?9<C?$>:9=;<=$>G=JA<K:$JG=9;=@?$J>=Q<:CH;?@?$?LG:8?B:V

RQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

RR

1$+/0

)*6

-#4

%/)#&

+,

L"L" 8?ACF?^6Z?FJaZ?FKJF@AFm6H\@FNF@@>F?FJDBfAA6>?VD@DCA6Z?>Ba?DEa?\

#V3C>>LZ571B3\57D8/3X@CD852/FJ7>B3[G87/F1CD1@1313#76>82/Q1N

>77>N/7/F1D1E5C@>=>3Q57D8/3_->?/`S38/V25Z577AP3?3C5D13#7D5875Dp

6$?DAOLGO$+22'$@($>G?DEG:AEG:$@(U=Gf;@G<$BM;=JC:$>G=9E>G=K9=V

;<=$dX$;=9?>EJA<P?JA<$G:J>G?JAG:;=;<O$WDJAG=P<JAJD<R$P:A=G<:C?B

T=G=8$[a7$<$?JEn=JABC=;<O$WDJAG=P<JAJD?I$9=OA=CH;?JA<e$@C:B;?PE

G=9:DA?GE$P=JA;?I$@:8=AM$dcG?JA?$UfGD:e$Y:G<J=$�:G?B:G<;?I$8:

>ELC<D:Q<f$B$JA:AH=$dXA$AGELM$>?B:C<C$WDJAG=P<8Pe$N?A?D?><I$dWDV

JAG=P<JAJD<R$C<JA?B?De(

[A:AHO$ Y($ �:G?B:G<;?I$ dXA$ AGELM$ >?B:C<C$ WDJAG=P<8Pe$ LMC:

?>ELC<D?B:;:$+)$:B@EJA:$+22'$@(B$%6VP$;?P=G=$@:8=AM$dcG?JA?$UfGV

D:e($b$D:T=JAB=$<CCfJAG:Q<<$D$ JA:AH=$>G<C:@:C:JH$N?A?D?><O$dC<JV

A?BD<3$;:>G:BC=;;?I$>G?A<B$D<A:IQ=B3$ET:JABEfn<R$B$JAG?<A=CHJAB=

;=NA=>G?B?9:$;:$A=GG<A?G<<$`K;?I$�DEA<<e($Y<JA?BD:3$>?9><J:;V

;:O$"cU73$>G<8MB:C:$K<A=C=I$@?G?9:$d>G<;OAH$ET:JA<=$B$:DQ<OR$>G?V

A=JA:$>G?A<B$>G<BC=T=;<O$;:$JAG?<A=CHJAB?$b[uX$D<A:IJD<R$JAG?<V

A=C=Ie($b$>G?DC:P:Q<<$LMC<$?>ELC<D?B:;M$d;?P=G$A=C=N?;:3$:9G=J

J:IA:$<$WC=DAG?;;MI$:9G=J$<;<Q<:A<B;?I$@GE>>M$<$9GE@<=$JB=9=;<Oe(

u=DJA$C<JA?BD<$>G?R?9<A$C<;@B<JA<T=JDEf$WDJ>=GA<8E$B$Q=;AG=$>G<

b=GR?B;?P$[E9=$S[,�/$B$�DEAJD=(

[:P:$JA:AHO$;:>G:BC=;:$>G?A<B$J?9=GK:;<O$C<JA?BD<($d_BA?G$DG<V

A<T=JD<$G:JJP:AG<B:=A$;=D?A?GM=$>G<8MBM$<$9:=A$?Q=;DE$J<AE:Q<<3$JC?V

K<Br=IJO$B?DGE@$JAG?<A=CHJAB:$;=NA=>G?B?9:$¨b?JA?T;:O$[<L<GH$]

u<R<I$?D=:;©3$JBO8:;;?I$J$>G<BC=T=;<=P$D<A:IJD<R$G:L?T<Re(

`K;?V�DEAJD<I$P=KG:I?;;MI$JC=9JAB=;;MI$?A9=C$JC=9JAB=;;?@?

E>G:BC=;<O$[C=9JAB=;;?@?$D?P<A=A:$>G<$>G?DEG:AEG=$SF$>?$S[,�/3$>?

ED:8:;<f$>G?DEG:AEGM$@(U=Gf;@G<3$>G?B=C$>G?B=GDE$>?$N:DAE$>ELC<D:V

Q<<$JA:AH<3$B$R?9=$D?A?G?I$LMC?$;:8;:T=;?$<$>G?B=9=;?$C<;@B<JA<T=JD?=

<JJC=9?B:;<=$A=DJA:($c?$9:;;MP$WDJ>=GA<8M3$dA=DJA$JA:AH<$;=$J?9=GK<A

BMJD:8MB:;<I3$;:>G:BC=;;MR$;:$B?8LEK9=;<=$;:Q<?;:CH;?I$;=;:B<JA<e(

c?$G=8ECHA:A:P$>G?B=GD<3$B$B?8LEK9=;<<$E@?C?B;?@?$9=C:$>?$T(-$JA(+*+

!#$SF$LMC?$?AD:8:;?3$B$JBO8<$J$?AJEAJAB<=P$J?JA:B:$>G=JAE>C=;<O(

a=K9E$A=P3$?>ELC<D?B:B$D?><f$C<JA?BD<3$:BA?G$JA:AH<3$D:D$J?TC:

>G?DEG:AEG:3$;:GEr<C$dAG=L?B:;<O$N=9=G:CH;?@?$8:D?;?9:A=CHJAB:3

B$T:JA;?JA<3$Fp$dX$>G?A<B?9=IJAB<<$WDJAG=P<JAJD?I$9=OA=CH;?JA<e$<

8:D?;$SF$dX$JG=9JAB:R$P:JJ?B?I$<;N?GP:Q<<e($U:$WA?P$?J;?B:;<<

@C:B;?PE$G=9:DA?GE$@:8=AM$<$LMC?$BM;=J=;?$>G=9E>G=K9=;<=(

#$J?K:C=;<f3$;:P$;=$<8B=JA;?$A?T;?$J?9=GK:;<=$C<JA?B?D($c?9V

T=GD;=P3$TA?$>G?DEG:AEG:$J?@C:J<C:JH$J$A=P3$TA?$:BA?G$JA:AH<$C<rH

<J>?CH8?B:C$WA<$C<JA?BD<$D:D$;=@:A<B;MI$<CCfJAG:A<B;MI$P:A=G<:C

?Ln<C?$7_$h�£��j}�{3$LMC?$EJA:;?BC=;?3$TA?$J??GEK=;<=$B:RA?BMR

>?J=CD?B3$>G=9;:8;:T=;;MR$9CO$G:8P=n=;<O$G:L?T<R3$8:;OAMR$;:$JAG?V

<A=CHJAB=$;=NA=>G?B?9:$b[uX3$9?$J<R$>?G$;=$8:B=Gr=;?($7;?JAG:;V

;M=$ G:L?T<=$ BM;EK9=;M$ >G?K<B:AH$ B$ ?Ln=K<A<OR3$ @?JA<;<Q=$ <$ ;:

DB:GA<G:R($!JC?B<O$>G?K<B:;<O$<$?G@:;<8:Q<O$><A:;<O$P;?@<R$<8$;<R

;=$ J??AB=AJABEfA$EJA:;?BC=;;MP$J:;<A:G;MP$;?GP:P$<$AG=L?B:;<V

OP($-2$:B@EJA:$>G?DEG:AEG:$@($U=Gf;@G<$B;=JC:$B$:9G=J$@=;=G:CH;?@?

>?9GO9T<D:$p_X$d#G:J;?9:GJAG?IAG:;J@:8e$>G=9JA:BC=;<=$?L$EJAG:V

;=;<<$BMOBC=;;MR$;:GEr=;<I$8:D?;:$<$?L=J>=T=;<<$;:9C=K:n<R$EJV

C?B<I$>G?K<B:;<O$<;?JAG:;;?I$G:L?T=I$J<CM(

k/81C/3&>I@17/

#$[b�"�U7`\

7Rd]*"H"*C(;(0(h2#

#?P>:;<O$duG:;J;=NAHe$J??Ln<C:3$TA?$B$?T=G=9;?I$G:8$>?BMJ<C:

>G?=DA;Ef$ JA?<P?JAH$ JAG?<A=CHJAB:$ >=GB?I$ ?T=G=9<$ ;=NA=>G?B?9:

b?JA?T;:O$[<L<GH$]$u<R<I$?D=:;$,b[uX/($u=>=GH$?;:$J?JA:BCO=A$ª-+36

PCG93$TA?$>?TA<$B9B?=$L?CHr=$>=GB?;:T:CH;?@?$>C:;:3$J??Ln:=A$<;V

N?GP:@=;AJAB?$ h�£��j}�{(

c?$G:;==$9:;;MP$J??Ln=;<OP$WC=DAG?;;MR$[a73$JA?<P?JAH$JAG?V

<A=CHJAB:$;=NA=>G?B?9:$>?$>=GB?PE$B:G<:;AE$AG:JJM$J?JA:BCOC:$ª1316

PCG9$B$Q=;:R$gg$DB:GA:C:$+22&$@?9:($X9;:D?$B$:>G=C=$+221V@?$>?$C<T;?V

PE$ED:8:;<f$>G=8<9=;A:$bC:9<P<G:$cEA<;:$AG:JJ:$LMC:$BM;=J=;:$8:

>G=9=CM$B?9?JL?G;?I$A=GG<A?G<<$?8=G:$0:ID:C3$<$>G?AOK=;;?JAH$AGEV

L?>G?B?9:$EB=C<T<C:JH$;:$+2�($u=>=GH$>?TA<$>?CA?GM$AMJOT<$D<C?V

P=AG?B$AGELM$LE9=A$>G?AO;EA?$>?$A=GG<A?G<<$S=J>ELC<D<$[:R:$,�DEV

A<O/($ ZA?$ >?AG=L?B:C?$ JAG?<A=CHJAB:$ 9?>?C;<A=CH;MR$ D<C?P=AG?B

AGELM$<$;=NA=>=G=D:T<B:fn<R$JA:;Q<I3$EB=C<T=;<O$?Ls=P?B$G:L?A

>?$B;=r;=PE$WC=DAG?J;:LK=;<f3$JBO8<$<$>G?T=@?($b$<A?@=$B$Q=;:R$gg

DB:GA:C:$+221$ @($ JP=A:$>=GB?I$?T=G=9<$>G?=DA:$ J?JA:B<C:$EK=$%2%3%

PCG9$GEL($,ª--3+$PCG9/(

#G?P=$<8P=;=;<O$P:GrGEA:3$>G<T<;?I$G?JA:$JA?<P?JA<$b[uX$JA:V

C?$JEn=JAB=;;?=$EB=C<T=;<=$Q=;$;:$AGELM($�JC<$B$+22&$@($;:$8:DE>DE

AGEL$duG:;J;=NAHe$>C:;<G?B:C:$>?AG:A<AH$&136$PCG9$GEL(3$A?$9B:$@?9:

J>EJAO$]$EK=$)63*$PCG9$GEL($c?$9:;;MP$P?;?>?C<<3$;:$%&�$>?9?G?K:V

C<$JAG?<A=CH;?VP?;A:K;M=$G:L?AM(

_$;:$WA?I$;=9=C=$duG:;J;=NAHe$?LsOB<C:$?$>?BMr=;<<$G:JT=A;?I

JA?<P?JA<$JAG?<A=CHJAB:$b[uX$=n=$;:$--�$]$9?$%%'3-$PCG9$GEL($,ª-+36

PCG9/($ cG?B=GD:$ G:JT=A?B3$ J9=C:;;:O$ 4C:B@?JWDJ>=GA<8?I3$ >?9AB=GV

9<C:$L=8EJC?B;Ef$?L?J;?B:;;?JAH$A:D<R$G:JR?9?B$>?$>G?=DAE3$J??LV

n<C:$@?JD?P>:;<O$<$?LsOJ;<C:$G?JA$JP=A;?I$JA?<P?JA<$>G?=DA:$<;NV

COQ<=I(

STT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

STS

1$+/0

)*6

-#4

%/)#&

+,

b$J<CE$JA:AH<$-$F=9=G:CH;?@?$8:D?;:$?A$+6(2'(+22+$@($q$--&VFp$dX

>G?A<B?9=IJAB<<$WDJAG=P<JAJD?I$9=OA=CH;?JA<e$9=OA=CH;?JAH$JG=9JAB

P:JJ?B?I$ <;N?GP:Q<<3$ ;:>G:BC=;;:O$ ;:$ B?8LEK9=;<=$ J?Q<:CH;?I3

G:J?B?I3$;:Q<?;:CH;?I$<C<$G=C<@<?8;?I$G?8;<3$OBCO=AJO$WDJAG=P<JAV

JD?I($b$J??AB=AJAB<<$J?$JA:AH=I$--$;:8B:;;?@?$N=9=G:CH;?@?$8:D?;:$B

S?JJ<IJD?I$F=9=G:Q<<$8:>G=n:fAJO$G:J>G?JAG:;=;<=$T=G=8$JG=9JAB:

P:JJ?B?I$<;N?GP:Q<<$WDJAG=P<JAJD<R$P:A=G<:C?B$<$?JEn=JABC=;<=

<P<$WDJAG=P<JAJD?I$9=OA=CH;?JA<(

[?@C:J;?$JA:AH=$&$p:D?;:$S?JJ<IJD?I$F=9=G:Q<<$?A$+'(-+(-))-$@(

q$+-+&V-$dX$JG=9JAB:R$P:JJ?B?I$<;N?GP:Q<<e3$;=$9?>EJD:=AJO$<J>?CHV

8?B:;<=$JG=9JAB$P:JJ?B?I$<;N?GP:Q<<$9CO$?JEn=JABC=;<O$WDJAG=P<JV

AJD?I$9=OA=CH;?JA<($p:>G=n:=AJO$G:J>G?JAG:;=;<=$B$JG=9JAB:R$P:JJ?V

B?I$<;N?GP:Q<<$JB=9=;<I$ ,<;N?GP:Q<</3$G:J>G?JAG:;=;<=$D?A?GMR

8:>G=n=;?$N=9=G:CH;MP<$8:D?;:P<(

cELC<D:Q<O$N?A?D?><<$ED:8:;;?I$C<JA?BD<$JB<9=A=CHJABE=A$?$J?V

B=Gr=;<<$ G=9:DQ<=I$ JG=9JAB:$ P:JJ?B?I$ <;N?GP:Q<<$ dU=8:B<J<P?I

U=Gf;@G<;JD?I$@:8=AM$dcG?JA?$UfGD:e$9=IJAB<I3$;:>G:BC=;;MR$;:

B?8LEK9=;<=$;:Q<?;:CH;?I$G?8;<$<$J?89:;<=$G=:CH;?I$E@G?8M$>G<T<V

;=;<O$BG=9:$?Ln=JAB=;;?I$L=8?>:J;?JA<(

U:$?J;?B:;<<$<8C?K=;;?@?$<$GED?B?9JABEOJH$JA($*$F=9=G:CH;?@?

8:D?;:$?A$+6(2'(+22+$@($q$--&VFp$dX$>G?A<B?9=IJAB<<$WDJAG=P<JAJD?I

9=OA=CH;?JA<e3

cS�"!cS�5"_`\

4C:B;?@?$G=9:DA?G:$@:8=AM$dU=8:B<J<P:O$U=Gf;@G<;JD:O$@:8=A:

dcG?JA?$UfGD:e$�:G?B:G<;E$Y(b($?$;=9?>EJA<P?JA<$WDJAG=P<JAJD?I

9=OA=CH;?JA<$>EAoP$G:8P=n=;<O$B$ @:8=A=$>ELC<D:Q<I3$;:>G:BC=;;MR

;:$B?8LEK9=;<=$ J?Q<:CH;?I3$;:Q<?;:CH;?I3$G:J?B?I$<$G=C<@<?8;?I

G?8;<3$:$A:DK=$G:J>G?JAG:;=;<=$WDJAG=P<JAJD<R$P:A=G<:C?B$T=G=8$JG=9V

JAB?$P:JJ?B?I$<;N?GP:Q<<(

S:8sOJ;Of3$TA?$B$ J??AB=AJAB<<$J?$ JA($ *$F=9=G:CH;?@?$ 8:D?;:$dX

>G?A<B?9=IJAB<<$WDJAG=P<JAJD?I$9=OA=CH;?JA<e$B$JCET:=3$=JC<$>G=9E>V

G=K9=;<=$;=$LMC?$?LK:C?B:;?$B$JE9$B$EJA:;?BC=;;?P$>?GO9D=$<C<$;=

>G<8;:;?$JE9?P$;=8:D?;;MP3$<$>?BA?G;?$B$A=T=;<=$9B=;:9Q:A<$P=JOV

Q=B$J?$9;O$BM;=J=;<O$>G=9E>G=K9=;<O$BMOBC=;M$;?BM=$N:DAM3$JB<9=V

A=CHJABEfn<=$?$;:C<T<<$>G<8;:D?B$WDJAG=P<8P:$B$9=OA=CH;?JA<$JG=9V

JAB:$P:JJ?B?I$<;N?GP:Q<<3$9=OA=CH;?JAH$J??AB=AJABEfn=@?$JG=9JAB:

P:JJ?B?I$<;N?GP:Q<<$>?9C=K<A$>G=DG:n=;<f$B$EJA:;?BC=;;?P$;:V

JA?On<P$F=9=G:CH;MP$8:D?;?P$>?GO9D=(

U:JA?On==$>G=9E>G=K9=;<=$P?K=A$LMAH$?LK:C?B:;?$B$EJA:;?BC=;V

;?P$>?GO9D=$B$JE9(

7(?($>G?DEG?G:$@($U=Gf;@G<

fG<JA$-$DC:JJ: |,~,*iL0@2#"")

<$9:C$<P$J??AB=AJABEfn<I$D?PP=;A:G<I($X9;:D?$=JC<$C<JA?BD<$9=IV

JAB<A=CH;?$;?JOA$>?9JAG=D:A=CHJD<I$R:G:DA=G3$>G=A=;8<O3$A=P$;=$P=V

;==3$?L?J;?B:;;:\$;=$JA?<A$B$@:8=A=$,B$?AC<T<=$?A$;:ET;?@?$<C<$<;?@?

P:C?A<G:K;?@?$<89:;<O/$B?J>G?<8B?9<AH$A:D?@?$G?9:$P:A=G<:CM(

:MjcU:Mj8cji9j

@($U=Gf;@G< $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$2%$?DAOLGO$+22'$@(

cG?DEG:AEG?I$ @($ U=Gf;@G<$ >G?B=9=;:$ >G?B=GD:$ J?LCf9=;<O$ 8:V

D?;?9:A=CHJAB:$ ?$ >G?A<B?9=IJAB<<$ WDJAG=P<JAJD?I$ 9=OA=CH;?JA<3$ B

G=8ECHA:A=$D?A?G?I$BMOBC=;?$;:GEr=;<=$J?$JA?G?;M$@:8=AM$dU=8:B<V

J<P:O$;=Gf;@G<;JD:O$@:8=A:$dcG?JA?$UfGD:e3$8:G=@<JAG<G?B:;;?I$B

[:R:V�DEAJD?P$ A=GG<A?G<:CH;?P$ E>G:BC=;<<$ a<;<JA=GJAB:$ SF$ >?

9=C:P$>=T:A<3$A=C=G:9<?B=n:;<O$<$JG=9JAB$P:JJ?BMR$D?PPE;<D:Q<I3

JB<9=A=CHJAB?$c7$q$-)V2&6&$?A$--(2)(+22%$@(

b$BM>EJD=$;:8B:;;?I$@:8=AM$q$%6$,+21/$?A$+)$:B@EJA:$+22'$@?9:$;:

AG=AH=I$JAG:;<Q=$LMC:$?>ELC<D?B:;:$JA:AHO$:BA?G:$Y:G<JM$#?rD<;?I

dXA$AGELM$>?B:C<C$WDJAG=P<8Pe($#:D$BMOJ;<C?JH3$>?9$>J=B9?;<P?P

dY:G<J:$#?rD<;:e$>ELC<DE=A$JB?<$P:A=G<:CM$@C:B;MI$G=9:DA?G$@:8=V

AM$�:G?B:G<;:$Y:G<J:$b<DA?G?B;:($!TG=9<A=C=P$@:8=AM$OBCO=AJO$XXX

dS=9:DQ<O$@:8=AM$dS=DC:P:$]$0<8;=J$B$U=Gf;@G<e$,:9G=J$ETG=9<A=CO$<

G=9:DQ<<\$@($U=Gf;@G<3$>GVA$"GEKLM$U:G?9?B3$+'�-3$A=C(\$%-%-%3$&-&-*/(

b$9:;;?I$JA:AH=$>=G=9$?J;?B;MP$A=DJA?P$B$D:T=JAB=$>G=9<JC?B<O

G:8P=n=;:$N?A?D?><O$C<JA?BD<$WDJAG=P<JAJD?@?$J?9=GK:;<O$?A$<P=;<

SEJJD?I$XLn<;M$"cU73$B$D?A?G?I$J?9=GK:AJO$>G<8MBM\$dU=A$D<A:IV

JD?I$?DDE>:Q<<($SEJJD<P$G:L?T<P$<$<;K=;=G:P$9?JA?I;Ef$G:L?AE$<

8:G>C:AEe3$dXLsOB<P$L?ID?A$D<A:IJD<P$@:JA:GL:IA=G:P�e3$:$A:DK=$<;V

N?GP:Q<O$?$>C:;<GE=PMR$B$J=;AOLG=$d?Ln=@?G?9JD<R$:DQ<OR$>G?A<B

>G<BC=T=;<O$;:$JAG?<A=CHJAB?$;=NA=>G?B?9:$D<A:IJD<R$P<@G:;A?Be(

c?$N:DA:P$G:J>G?JAG:;=;<O$ED:8:;;MR$C<JA?B?D$B$@?G?9=$U=Gf;@V

G<$`K;?V�DEAJD<P$P=KG:I?;;MP$?A9=C?P$JC=9JAB=;;?@?$E>G:BC=;<O

JC=9JAB=;;?@?$D?P<A=A:$>G<$>G?DEG:AEG=$S?JJ<IJD?I$F=9=G:Q<<$>?

S=J>ELC<D=$[:R:$ ,�DEA<O/$-&$J=;AOLGO$+22'$@($B?8LEK9=;M$E@?C?B;M=

9=C:$>?$>G<8;:D:P$>G=JAE>C=;<I3$>G=9EJP?AG=;;MR$T(-$JA(+*+$!#$SF(

b$J??AB=AJAB<<$J$ 8:DCfT=;<=P$J>=Q<:C<JA:$]$9?DA?G:$N<C?C?@<V

T=JD<R$;:ED$a=GD=CH$�(b($?A$2)(2)(+22'$@($B$A=DJA=$C<JA?BD<$J?9=GK:AV

JO$BMJD:8MB:;<O3$;:>G:BC=;;M=$;:$B?8LEK9=;<=$;:Q<?;:CH;?I$BG:KV

9M($":;;M=$BMB?9M$>?9AB=GK9=;M$8:DCfT=;<=P$JE9=L;?VC<;@B<JA<V

T=JD?I$WDJ>=GA<8M3$>G?B=9o;;?I$�=;AG?P$C<;@B<JA<T=JD?I$WDJ>=GA<V

8M$9?DEP=;A?B$�DEAJD?@?$@?JE9:GJAB=;;?@?$E;<B=GJ<A=A:(

u:D<P$?LG:8?P3$B$dU=8:B<J<P?I$U=Gf;@G<;JD?I$@:8=A=$dcG?JA?

UfGD:e$?A$+)(2*(+22'$@($q$%6$?>ELC<D?B:;:$C<JA?BD:$WDJAG=P<JAJD?V

@?$J?9=GK:;<O3$A=DJA$D?A?G?I$;:>G:BC=;$;:$B?8LEK9=;<=$;:Q<?;:CHV

;?I$BG:K9M(

STh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

STI

1$+/0

)*6

-#4

%/)#&

+,

($)*+!,%-&#.3 '#u+#k3 %#&n$)$%#m3 3 a3 $ >G=9J=9:A=CH

>G:BC=;<O$@<CH9<<3$9=IJAB<A=CH;MI$TC=;$4<CH9<<$C<;@B<JA?BVWDJ>=GV

A?B$>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?G:P3$9?DA?G$N<C?V

C?@<T=JD<R$;:ED3$>G?N=JJ?G3$:D:9=P<D$S_�U3$B<Q=V>G=8<9=;A$XLn=V

JAB:$CfL<A=C=I$G?JJ<IJD?I$JC?B=J;?JA<3 ,J>=Q<:CH;?JAHp3 d-2(2+(2-$]

SEJJD<I$O8MDe^$9<>C?P$9?DA?G:$N<C?C?@<T=JD<R$;:ED$q$"#$22-22&$?A

+2(2-(-))6$@(3$JA:K$G:L?AM$>?$J>=Q<:CH;?JA<$a$%+$@?9:3$WDJ>=GA;:O$J>=V

Q<:C<8:Q<O$]$CG05L7/H3F17=?1CD1E5C@/H3X@CY58D1V//^

(+kc4#!+3,k,!+3#($),%!+33a$TC=;$>G:BC=;<O$@<CH9<<3$9=IV

JAB<A=CH;MI$TC=;$4<CH9<<$ C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;V

;MP$$$<$<;N?GP:Q<?;;MP$J>?G:P3$9?DA?G$N<C?C?@<T=JD<R$;:ED3$9?DV

A?G$fG<9<T=JD<R$;:ED33>G?N=JJ?G3$8:P=JA<A=CH$8:B=9Efn=@?$D:N=9G?I

JE9=L;MR$WDJ>=GA<8$a?JD?BJD?I$@?JE9:GJAB=;;?I$fG<9<T=JD?I$:D:9=V

P<<3$:D:9=P<D$S_�U$,J>=Q<:CH;?JAH\$d-2(2+(+-$]$cG<DC:9;:O$<$P:A=V

P:A<T=JD:O$C<;@B<JA<D:e^$9<>C?P$9?DA?G:$N<C?C?@<T=JD<R$;:ED$q$"#

2++%+6$?A$-*(21(+22&$@(3$JA:K$G:L?AM$>?$J>=Q<:CH;?JA<$a$+'$C=A3$WDJ>=GV

A;:O$J>=Q<:C<8:Q<O$]$CG05L7/H3F17=?1CD1E5C@/H3X@CY58D1V//^

'+'$!n$%3+k,&-+!j)3-n,O+!$%#m$a$9=IJAB<A=CH;MI$TC=;

4<CH9<<$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;V

;MP$$J>?G:P3$9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G3D:N=9GM$P=A?V

9<D<3$>=9:@?@<D<$<$>J<R?C?@<<$4?JE9:GJAB=;;?@?$<;JA<AEA:$GEJJD?@?

O8MD:$<P$_([($cErD<;:3$TC=;VD?GG=J>?;9=;A$S_�U$,J>=Q<:CH;?JAHp

d-2(2+(2-$]$SEJJD<I$O8MDe^$9<>C?P$9?DA?G:$N<C?C?@<T=JD<R$;:ED$q$"#

22'%-2$?A$+%(2%(+22-$@(3$JA:K$G:L?AM$>?$J>=Q<:CH;?JA<$a$%+$@?9:3$WDJV

>=GA;:O$J>=Q<:C<8:Q<O$]$CG05L7/H3F17=?1CD1E5C@/H3X@CY58D1V//^

n)$R#'$%+3(+k#!+3!#&$k+,%!+3a3TC=;$>G:BC=;<O$@<CHV

9<<3$9=IJAB<A=CH;MI$TC=;$4<CH9<<$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;V

A:Q<?;;MP$<$<;N?GP:Q<?;;MP$$J>?G:P3$9?DA?G$N<C?C?@<T=JD<R$;:ED3

>G?N=JJ?G$D:N=9GM$P:JJ?BMR$D?PPE;<D:Q<I$N<C?C?@<T=JD?@?$N:DECHV

A=A:$ S?JJ<IJD?@?$ E;<B=GJ<A=A:$ 9GEKLM$ ;:G?9?B$ ,J>=Q<:CH;?JAHp

_-2(2+(2-$]$SEJJD<I$O8MDe3$9<>C?P$9?DA?G:$N<C?C?@<T=JD<R$;:ED$q

"#$2+&1+&$?A$-*(2+(+226$@(3$ JA:K$G:L?AM$>?$J>=Q<:CH;?JA<$]$ -&$C=A3

WDJ>=GA;:O$J>=Q<:C<8:Q<O$]$CG05L7/H3F17=?1CD1E5C@/H3X@CY58D1V//

>G?<8B=C:$D?P<JJ<?;;?=$C<;@B<JA<T=JD?=$<JJC=9?B:;<=$>G=9JA:BV

C=;;?@?$A=DJA:$JA:AH<(

U:$G:8G=r=;<=$ J>=Q<:C<JA?BVC<;@B<JA?B$>?JA:BC=;M$JC=9Efn<=

B?>G?JM\

-($ #:D?B:$ K:;G?B:O$ J>=Q<N<D:$ <$ R:G:DA=G<JA<D:$ Q=C=EJA:;?BD<

>G=9JA:BC=;;?I$>ELC<D:Q<<�

+($ #:D?B:$J?9=GK:A=CH;?VJPMJC?B:O$;:>G:BC=;;?JAH$>ELC<D:Q<<

<$D:D?B:$NE;DQ<?;:CH;:O$<$J?9=GK:A=CH;?VJPMJC?B:O$;:@GE8D:$B$D?;V

A=DJA=$JA:AH<$N?A?D?><<$C<JA?BD<$?A$<P=;<$SEJJD?I$XLn<;M$"cU73

>G=9B:GOfn<I$?J;?B;?I$A=DJA$JA:AH<�

L"M"` 8?ACF?^6[DBGiWF@AF6NZFfADGANE>HbGA@VHANE>H6Z>6[DZ?>Na61>i[D6Ka?@DGANE>H/>NNAA

/9?kc9x*?9i/79Rd]7NQVR:jMd]7

:]*c]VU6jid-y9]iiz6*9*9iW]M6-y9]iiz6*R:]M-6

M"@,Y>P>I^*/#2)3(@(*LC02)#"3&A*6&3&4="04=)2*g4=&K&&*MW*C(*@,*6(4')"*(=*>Z,TI,ITT>*@,

-+)-1&$aX[#b_$:�O$--2($u=C(\$�'$,)2%/$'1)$'-')($¡V���~\$}V}�y}x�� ��|}�(xz

X*-*V*?*+*<*j*i*9*j

V]69RR99

R:jy9-?9Rd]7N?9i/79Rd]7

Y*[Sl>INT^

@(a?JDB:$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$d-*e$9=D:LGO$+22'$@(

6"4=(*C0(&D)(;4=)2*&44#";()23&A\$>?P=n=;<=$XLn=JAB=;;?@?$?Ls=V

9<;=;<O$d4<CH9<O$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;V

N?GP:Q<?;;MP$J>?G:P$,4YZ"7[/e\$pEL?BJD<I$LECHB:G3$9($&3$D($&%+(

R)";"3&A* (1* B'4C"0=3(J* L%0"h;"3&&\$XLn=JAB=;;?=$?Ls=9<;=;<=

d4<CH9<O$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<V

?;;MP$J>?G:P$,4YZ"7[/e($[B<9=A=CHJAB?$?$G=@<JAG:Q<<$?Ln=JAB=;V

;?@?$ ?Ls=9<;=;<O$ q$ -&-+'$ ?A$ -6$ N=BG:CO$ +22-$ @(3$ BM9:;?$ 4C:B;MP

E>G:BC=;<=P$ a<;<JA=GJAB:$ fJA<Q<<$ S?JJ<IJD?I$ F=9=G:Q<<$ >?$ @(

a?JDB=(

XJ;?B:;<=$>G?<8B?9JAB:$C<;@B<JA<T=JD?@?$<JJC=9?B:;<O\

]$8:>G?J$>G=9J=9:A=CO$[?f8:$KEG;:C<JA?B$S?JJ<<$b(Y(0?@9:;?B:

?A$d+2e$;?OLGO$+22'$@($B$4<CH9<f$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;V

A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?G:P$,4YZ"7[/$?$>G?B=9=;<<$D?V

P<JJ<?;;?@?$C<;@B<JA<T=JD?@?$<JJC=9?B:;<O$JA:AH<$:BA?G:$Y:G<JM

#?rD<;?I$dXA$AGELM$>?B:C<C$WDJAG=P<8Pe3$?>ELC<D?B:;;?I$B$@:8=A=

dU=8:B<J<P:O$;=Gf;@G<;JD:O$@:8=A:$dcG?JA?$UfGD:e$q$%6$,+21/$?A

+)$:B@EJA:$+22'$@?9:$;:$>G=9P=A$;:C<T<O$B$;=I$9=IJAB<I3$;:>G:BC=;V

;MR$;:$B?8LEK9=;<=$;:Q<?;:CH;?I$G?8;<$<$J?89:;<=$G=:CH;?I$E@G?8M

>G<T<;=;<O$BG=9:$?Ln=JAB=;;?I$L=8?>:J;?JA<^

]$ G:J>?GOK=;<=$ >G=9J=9:A=CO$ 4<CH9<<$ C<;@B<JA?BVWDJ>=GA?B$ >?

9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?G:P$ ,4YZ"7[/$>G?N=JV

J?G:$a(b($4?GL:;=BJD?@?$?A$d+2e$;?OLGO$+22'$@($?$N?GP<G?B:;<<$D?V

P<JJ<<$J>=Q<:C<JA?B$<8$T<JC:$TC=;?B$4YZ"7[(

V(J&44&A*4C"K&2#&4=()*/&#$;&&*B'4C"0=()N#&3@)&4=()*C(*;('LJ"3N

=2K&(33EJ*&*&3b(0J2K&(33EJ*4C(02J*)*4#";LgH"J*4(4=2)"\

STL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

STM

1$+/0

)*6

-#4

%/)#&

+,

>?C;=;<OP<($ cG<$ WA?P$ JC=9E=A$ ?AP=A<AH3$ TA?$ >?9$ WDJAG=P<JAJD<P<

P:A=G<:C:P<$B$>G=9=C:R$D?P>=A=;Q<<$JE9=L;?I$C<;@B<JA<T=JD?I$WDJV

>=GA<8M$>?;<P:fAJO$>G=9;:8;:T=;;M=$9CO$?L;:G?9?B:;<O$9?DEP=;V

AM$C<L?$<;N?GP:Q<O$;:$<;MR$;?J<A=COR3$>G<8MB:fn<=$D$?JEn=JABC=V

;<f$WDJAG=P<JAJD?I$9=OA=CH;?JA<$C<L?$?L?J;?BMB:fn<=$<C<$?>G:BV

9MB:fn<=$ ;=?LR?9<P?JAH$ ?JEn=JABC=;<O$ A:D?I$ 9=OA=CH;?JA<($ c?V

JD?CHDE$>?JA:BC=;;M=$>=G=9$J>=Q<:C<JA:P<$B?>G?JM$B8:<P?JBO8:;M3

?;<$G=r:C<JH$J?BP=JA;?$J$N?GPEC<G?BD?I$J<;A=8<GEfn=@?$BMB?9:3

<JR?9O$<8$>G=9P=A:$<JJC=9?B:;<O3$?L?8;:T=;;?@?$B$ 8:>G?J=$<;<Q<:V

A?G:$C<;@B<JA<T=JD?@?$<JJC=9?B:;<O$9=IJAB<I3$;:>G:BC=;;MR$;:$B?8V

LEK9=;<=$;:Q<?;:CH;?I$G?8;<$<$J?89:;<=$G=:CH;?I$E@G?8M$>G<T<;=V

;<O$BG=9:$?Ln=JAB=;;?I$L=8?>:J;?JA<(

cG<$WA?P$>G<;<P:C?JH$B?$B;<P:;<=3$TA?$9<J>?8<Q<O$JA($-$F=9=G:CHV

;?@?$8:D?;:$SF$dX$>G?A<B?9=IJAB<<$WDJAG=P<JAJD?I$9=OA=CH;?JA<e

q$--&VFp$?A$+6$<fCO$+22+$@($BDCfT:=A$>?;OA<=$dWDJAG=P<JAJD:O$9=OV

A=CH;?JAHd$ ,dWDJAG=P<8Pe/3$?>G=9=COO$=@?$?><J:A=CH;?$T=G=8$>=G=T<JV

C=;<=$G:8;?B<9;?JA=I$A:D?B?I3$BDCfT:O$J?LJAB=;;?$A=GG?G<JA<T=JDEf

9=OA=CH;?JAH3$A:D$<$==$>G?>:@:;9E($XLs=DA<B;:O$JA?G?;:$9=IJAB<I3$>G=V

9EJP?AG=;;MR$9:;;?I$JA:AH=I3$;:>G:BC=;:$;:$?>G:B9:;<=$<C<$?L?J;?V

B:;<=$WDJAG=P<8P:3$TA?$G?JJ<IJD<P$8:D?;?9:A=CHJAB?P$8:>G=n=;?(

M"a"3&"*C(4=2)#"33EF*)(C0(4()

[A:AHO3$>?9><J:;;:O$dk/81C/3&>I@17/e3$?8:@C:BC=;;:O$dXA$AGELM

>?B:C<C$WDJAG=P<8Pe3$>?$K:;GE3$D?P>?8<Q<?;;?VJA<C<JA<T=JD<P$R:G:DV

A=G<JA<D:P$?A;?J<AJO$D$>=T:A;MP$P:A=G<:C:P$<;N?GP:Q<?;;?V:;:C<V

A<T=JD?@?$R:G:DA=G:($u=P:A<T=JD<$JA:AHO$?A;?J<AJO$D$>?C<A<T=JD?PE

9<JDEGJE$>ELC<Q<JA<T=JD?@?$JA<CO$><JHP=;;?I$G=T<($XJ;?B;:O$8:9:T:

>ELC<Q<JA<T=JD?@?$JA<CO$G=T<$]$J??Ln=;<=$<$D?PP=;A<G?B:;<=$>=G=V

9:B:=P?I$<;N?GP:Q<<($XJ?L=;;?JAHf$>?C<A<T=JD?@?$9<JDEGJ:$OBCO=AV

JO$;:>G:BC=;;?JAH$;:$>G<BC=T=;<=$?Ln=JAB=;;?@?$B;<P:;<O$D$>?C<A<V

T=JD<$8;:T<PMP$>G?LC=P:P3$?LJEK9:=PMP$<C<$:;:C<8<GE=PMP$B$A=DV

JA=($"CO$A=DJA?B$A:D?@?$K:;G:$<$JA<CO$R:G:DA=G;M$BDG:>C=;<O$WC=P=;V

A?B$G:8@?B?G;?@?$JA<CO$G=T<3$>G?JAM=3$>?;OA;M=$JC?B:3$?LG:8;M=$JG:BV

;=;<O3$;:>G:BC=;;?JAH$;:$?Ln=;<=$J$P:JJ?B?I$:E9<A?G<=I(

[?9=GK:A=CH;?$>G=9JA:BC=;;MI$;:$<JJC=9?B:;<=$A=DJA$>ELC<D:Q<<

?AG:K:=A$?8:L?T=;;?JAH$:BA?G:$G=r=;<=P$JC?K;MR$<$ 8C?L?9;=B;MR

J?Q<:CH;MR3$WD?;?P<T=JD<R$<$>?C<A<T=JD<R$>G?LC=P$@?G?9:$U=Gf;@V

G<$,d%>D313?AP>01DS3ED>3758W7=817Q/2327>=>3>L5Z/F13?7/E/F5S38/V?5F1

7/3>LZ5CD?577A53CFGI/71H313@17GF1"3&/@3DGD37538>01DJCH38/V7>=>38>0/

X@CD8521CDC@123Y>2ACF/2S3D1Y/3_L>B@>D3@1D/BC@123=/CD/8L/BD58/2h`s

n>FJ@>3Y81E523V05CJ3>713a3=/CD/8L/BD58AND>s3&1D/BQA3?17>?/DA3?3D>2S

ED>305I5?>3>Q571?/WD3C?>B3D8G0s3j/3V/3XD>37/371P3?5CJ32183?3>L105"3!>

Y813XD>23/[3L5=>23Y>@GY/5D31P305I5?A53?5Z1"3%37/I5B3C1DG/Q113@1D/BN

%($ c?9AB=GK9:=A$C<$C<;@B?JA<C<JA<T=JD<I$:;:C<83$TA?$>G=9B:G=V

;<=$JA:AH<$<8?LG:K=;<=P$C<JA?BD<$?A$<P=;<$SEJJD?I$XLn<;M$"cU7

JB<9=A=CHJABE=A$?$ J?B=Gr=;<<$G=9:DQ<=I$JG=9JAB:$P:JJ?B?I$<;N?GV

P:Q<<$dU=8:B<J<P?I$U=Gf;@G<;JD?I$@:8=AM$dcG?JA?$UfGD:e$9=IV

JAB<I3$;:>G:BC=;;MR$;:$B?8LEK9=;<=$;:Q<?;:CH;?I$G?8;<$<$J?89:;<=

G=:CH;?I$E@G?8M$>G<T<;=;<O$BG=9:$?Ln=JAB=;;?I$L=8?>:J;?JA<�

i2*#&3@)&4=&%"4'("*&44#";()23&"*C0";4=2)#"32$JA:AHO$:BA?G:$Y:V

G<JM$#?rD<;?I$dXA$AGELM$>?B:C<C$WDJAG=P<8Pe3$?>ELC<D?B:;;:O$B

@:8=A=$dU=8:B<J<P:O$;=Gf;@G<;JD:O$@:8=A:$dcG?JA?$UfGD:e$q$%6$,+21/

?A$ +)$ :B@EJA:$ +22'$ @?9:3$ >G=9B:GO=P:O$ <8?LG:K=;<=P$ C<JA?BD<$ $ ?A

<P=;<$SEJJD?I$XLn<;M$"cU7(

9RR?jc]7-dj?kRV-x*<-Rdk*X-V?+<ji9x

5-*#'+)$(+..6-'#0$&+7

7JR?9O$ <8$ JEn=JAB:$ B?>G?J?B3$ >?JA:BC=;;MR$ >=G=9$ J>=Q<:C<JA:V

P<VC<;@B<JA:P<3$B$;:JA?On=P$8:DCfT=;<<$?AG:K=;M$G=8ECHA:AM$C<;V

@B?JA<C<JA<T=JD?@?$:;:C<8:$>G=9JA:BC=;;?I$>ELC<D:Q<<$:BA?G:$Y:V

G<JM$#?rD<;?I$dXA$AGELM$>?B:C<C$WDJAG=P<8Pe3$?>ELC<D?B:;;?I$B

@:8=A=$dU=8:B<J<P:O$;=Gf;@G<;JD:O$@:8=A:$dcG?JA?$UfGD:e$q$%6$,+21/

?A$+)$:B@EJA:$+22'$@?9:e3$>G=9B:GO=P?I$N?A?D?><=I$C<JA?BD<$?A$<P=V

;<$SEJJD?I$XLn<;M$"cU7(

7JJC=9?B:;<=$>G?B?9<C?JH$B$J??AB=AJAB<<$J$P=A?9<D:P<$>G?<8B?9V

JAB:$C<;@B?JA<C<JA<T=JD?@?$:;:C<8:$GEJJD?O8MT;?@?$A=DJA:3$G=D?P=;V

9?B:;;MP<$D$>G:DA<T=JD?PE$<J>?CH8?B:;<f$G=r=;<=P$WDJ>=GA;?VD?;V

JECHA:A<B;?@?$J?B=A:$>G<$>G=9J=9:A=C=$>G:BC=;<O$4YZ"7[$,?>ELC<V

D?B:;M$B$D;<@:R$d�=;:$JC?B:e3$-]%$<89:;<=3$]$a(3$+22-]+22+$@@(3$B$P:V

A=G<:C:R$;:ET;?V>G:DA<T=JD?@?$J=P<;:G:$du=?G<O$<$>G:DA<D:$C<;@V

B<JA<T=JD?@?$:;:C<8:$A=DJA?B$[a7$B$JE9=L;MR$WDJ>=GA<8:R$<$<;N?GV

P:Q<?;;MR$J>?G:Re($b$9BER$T:JAOR($]$a(\$4:C=G<O3$+22+]+22%^$4:COr<V

;:$�(7($Y<;@B<JA<D:$ �{$ WDJAG=P<8P($]$ a(3$ +22%^$S:A<;?B$_(S(3$#G?8

a(b(3$S:A<;?B:$U(_($XAB=AJAB=;;?JAH$8:$G:8K<@:;<=$BG:K9M$<$;=;:V

B<JA<($cJ<R?C?@?V>G:B?B:O$R:G:DA=G<JA<D:($]$a(3$+226/(

#G?P=$A?@?3$ET<AMB:C<JH$>?C?K=;<O3$J?9=GK:n<=JO$B$a=A?9<T=JV

D<R$G=D?P=;9:Q<OR$dXL$<J>?CH8?B:;<<$J>=Q<:CH;MR$>?8;:;<I$>?$9=V

C:P$<$P:A=G<:C:P$?$B?8LEK9=;<<$;:Q<?;:CH;?I3$G:J?B?I$<C<$G=C<@<V

?8;?I$BG:K9Me$U77$>G?LC=P$EDG=>C=;<O$$8:D?;;?JA<$<$>G:B?>?GO9V

D:$4=;=G:CH;?I$>G?DEG:AEGM$S?JJ<IJD?I$F=9=G:Q<<$,q$+']-)]-)$?A

+)$<f;O$-)))$@(/$B$T:JA<$<J>?CH8?B:;<O$J>=Q<:CH;MR$>?8;:;<I$9CO$G=V

r=;<O$B?>G?J?B3$?A;?JOn<RJO$D$D?P>=A=;Q<<$WDJ>=GA?BVC<;@B<JA?B(

c?;OA<=$dWDJAG=P<JAJD<=$P:A=G<:CMe$<J>?CH8E=AJO$ J>=Q<:C<JA:V

P<$ B$ J??AB=AJAB<<$ J$ 9=N<;<Q<=I3$ D?A?G:O$ J?9=GK<AJO$ B$ JA($ -$ F=9=V

G:CH;?@?$8:D?;:$SF$dX$>G?A<B?9=IJAB<<$WDJAG=P<JAJD?I$9=OA=CH;?JV

A<e$q$--&VFp$?A$+6$<fCO$+22+$@($J$>?JC=9Efn<P<$<8P=;=;<OP<$<$9?V

STO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

STP

1$+/0

)*6

-#4

%/)#&

+,

C@>B3>LF/CD1S3Y81?F5@/DJ3@1D/BQ5?37/3CD8>1D5FJCD?>3%-n$S3Y>03>DN

@8>?577>3 1V05?/D5FJC@123 F>VG7=>23 1P3 05I5?1V7A3 a3 XD>3 >D@8>?577AB

YF5?>@3?3F1Q>3%-,'3[1D5FH23!58W7=81h`"3n/@S3?AP>01DS3/?D>8A3XD>N

=>3Y>CF/71H3?10HD3@>857J3a3Y58?>Y81E17G3?>?C53753?3_@1D/BC@>B3>@@GY/N

Q11`S3753@1D/BQA3?C52G3?17>BS3/3D5S3@D>31P3Y81?F5@/5D"3%50J37/325CD5

@1D/BQ5?32>=F13LADJ3170>75V1BQAS37/Y81258S3>713D>[537/38A7@538/LN

C1FA305I5?>3CD>HD(e/$<$>MA:=AJO$G:8PMrCOAH$?$>G<T<;:R$JC?K<Br=IV

JO$B$ @?G?9=$JC?K;?I$B8GMB??>:J;?I$WA;<T=JD?I$<$J?Q<:CH;?VWD?;?V

P<T=JD?I$J<AE:Q<<$,d#D/@S3Y>0G2/5237/03Y81E17/21p3@/@32A30>3[1V71

D/@>B30>@/D1F1CJS31F13@D>37/C30>@/D1Fve/(

":C==$B=JH$A=DJA$JA:AH<$>?JBOn=;$G:JJP?AG=;<f$>G?LC=PM$AGE9?V

EJAG?IJAB:$K<A=C=I$U=Gf;@G<$<$ 8:;OA?JA<$;:$ JAG?<A=CHJAB=$;=NA=V

>G?B?9:$D<A:IQ=B$,d'>257D31CD17A3CD/F38/C@8A?/DJCH30>?>FJ7>3C@>N

8>"3 !58W7=817Q5?3 7/3 CD8>1D5FJCD?>3 756D5Y8>?>0/3 Y>3 8/V7A23 Y81E1N

7/23753L8/F1"3u>DH3 wn8/7C756DJw3 ?7/E/F53@FHF/CJS3 ED>38/L>D/DJ37/

>Lx5@D/P3%-n$3LG0GD3?3>C7>?7>2325CD7A53[1D5F1S3Y>CF50GWZ153C>N

LAD1H30>@/V/F13>L8/D7>5"3+3D81325CHQ/3CYGCDHS3CD/F>31V?5CD7>S3ED>

!58W7=817C@1B3 >D85V>@3 %-Nn$3 ?>>LZ53 LG0GD3 CD8>1DJ3 @1D/BQA`b"

_BA?G$?L=J>?D?=;$>G?LC=P?I$8:;OA?JA<$;:J=C=;<O$U=Gf;@G<$<$?AJEAV

JAB<=P$DB:C<N<Q<G?B:;;MR$D:9G?B$r_3%385VGFJD/D5S3Y8130>?>FJ7>3?AN

C>@>23G8>?753L5V8/L>D1QA325CD7>=>37/C5F571H3?325CD/P3Y8>2AIF577>N

=>3>C?>571H3-5?58/S37/LFW0/5DCH30561Q1D3@?/F161Q18>?/77>B38/L>E5B

C1FAv3!58W7=8132>[5D3=>801DJCH3a3Y>FD>8A3DACHE13@1D/BC@1P3=8/[N

0/73Y>Y8/?HD3C?>53LF/=>C>CD>H7153V/8/L>D/?37/3CD8>1D5FJCD?53%-n$"

mD>35Z53>CD/5DCH305F/DJS35CF138>07>53=>CG0/8CD?>38GCC@>2G32G[1@G

>Y8505F1F>325CD>3753?3/8D5FJ7>B3CYF>D@5S3/3V/3CD/@/7>23?>0@1v`b"

b$8:B=Gr=;<=$>ELC<D:Q<<$:BA?G$?LG:n:=A$B;<P:;<=$T<A:A=C=I$;:

>C?R<=$ EJC?B<O$ >G?K<B:;<O$ <$ ><A:;<O$ >G<BC=D:=PMR$ <;?JAG:;;MR

G:L?T<R$,iCF>?1H3Y8>[1?/71H313>8=/71V/Q1H3Y1D/71H327>=1P31V371P375

C>>D?5DCD?GWD3GCD/7>?F577A23C/71D/87A237>82/2313D85L>?/71H2b(

cG?B=9=;;?=$<JJC=9?B:;<=$>?8B?C<C?$BMOB<AH3$TA?$C<JA?BD:3$>G=9V

B:GOfn:O$?J;?B;?I$A=DJA$JA:AH<$?A$<P=;<$SEJJD?I$XLn<;M$"cU73$B

D?A?G?I$ J?9=GK:AJO$ >G<8MBM\$ dU=A$ D<A:IJD?I$ ?DDE>:Q<<($ SEJJD<P

G:L?T<P$<$<;K=;=G:P$9?JA?I;Ef$G:L?AE$<$8:G>C:AEe3$dXLsOB<P$L?IV

D?A$D<A:IJD<P$@:JA:GL:IA=G:P�e3$:$A:DK=$<;N?GP:Q<O$?$>C:;<GE=PMR

B$J=;AOLG=$d?Ln=@?G?9JD<R$:DQ<OR$>G?A<B$>G<BC=T=;<O$;:$JAG?<A=CHV

JAB?$;=NA=>G?B?9:$D<A:IJD<R$P<@G:;A?Be$;?J<A$R:G:DA=G$'#)48-&*$69:

&#;(+66<.*"$=++3$;:$?J;?B=$D?A?G?I$:BA?G$>MA:=AJO$>?;OAH$>G<T<;M

B?8;<D;?B=;<O$B$@?G?9=$>G?OBC=;<I$;:Q<?;:CH;?I$BG:K9M($cG<JEAV

JAB<=$9:;;?I$C<JA?BD<$B$D:T=JAB=$<CCfJAG:Q<<$?LsOJ;O=AJO$;=?LR?V

9<P?JAHf$D?;JA:A:Q<<$N:DA:$>G?OBC=;<O$;:Q<?;:CH;?I$BG:K9M$B$=@?

LEDB:CH;?P$ B?J>G?<8B=9=;<<($ ZA?A$ N:DA$ OB<CJO$ <;N?GP:Q<?;;MP

>?B?9?P$ 9CO$ :BA?G:3$ BJAG=B?K=;;?@?$ JC?K<Br=IJO$ B8GMB??>:J;?I

C@153=8/[0/753?>?C53753Y81E52"3#230/F13XDG38/L>DG38>CC1BC@153?F/CD131

=F/?7AB3171Q1/D>831P3V/?>V/3-52573%/B7ID>@313(582/73(856e/(

_BA?G$A=DJA:$?LG:n:=AJO$D$Q=C=B?I$:E9<A?G<<$JB?=@?$<89:;<O3$@9=

>ELC<DE=AJO$=@?$JA:AHO3$><r=A$?$K<B?AG=>=nEn<R$J?Q<:CH;?VWD?;?V

P<T=JD<R$B?>G?J:R3$D?A?GM=$?JAG?$B?C;EfA$=@?$<$=@?$T<A:A=C=I(

u=DJA$ JA:AH<$ >G=9B:GO=AJO$ B?J>G?<8B=9=;<=P$ N?A?<8?LG:K=;<O

C<JA?BD<3$BM>En=;;?I$?A$<P=;<$SEJJD?I$XLn<;M$"cU73$B$D?A?G?I

J?9=GK:AJO$>G<8MBM\$dU=A$D<A:IJD?I$?DDE>:Q<<($SEJJD<P$G:L?T<P$<

<;K=;=G:P$9?JA?I;Ef$G:L?AE$<$8:G>C:AEe3$dXLsOB<P$L?ID?A$D<A:IJV

D<P$@:JA:GL:IA=G:P�e3$:$A:DK=$<;N?GP:Q<O$?$>C:;<GE=PMR$B$J=;AOLV

G=$ d?Ln=@?G?9JD<R$ :DQ<OR$ >G?A<B$ >G<BC=T=;<O$ ;:$ JAG?<A=CHJAB?

;=NA=>G?B?9:$D<A:IJD<R$P<@G:;A?Be(

":;;:O$C<JA?BD:3$D:D$ JC=9E=A$<8$>=GBMR$:L8:Q=B$ JA:AH<3$ OB<C:JH

<;N?GP:Q<?;;MP$>?B?9?P$9CO$9:;;?I$>ELC<D:Q<<($cG<T=P3$D:D$WA?

B<9;?$<8$J?9=GK:;<O$JA:AH<3$:BA?G$;=$JA:B<A$JB?=I$Q=CHf$>G?B?9<AH

:;:C<8$<$9:B:AH$9:;;?PE$C<JADE$>G:B?BEf$?Q=;DE3$>?JD?CHDE$]$ WA?

D?P>=A=;Q<O$>G:B??RG:;<A=CH;MR$?G@:;?B3$8:;<P:fn<RJO$G:JJC=9?V

B:;<=P$9:;;?@?$N:DA:$ ,d!/?587H@/3L>FJI17CD?>3758W7=817Q5?32>=F1

?105DJ3F1CD>?@13Y>0>L7A53D>BS3ED>37/36>D>"3#P38/C@F51?/F137/30?58HP

Y>0x5V0>?S3 @F/F13 ?3Y>ED>?A53HZ1@1"3&3Y81VA?G3 XD1P3XY1CD>F3G3_O!`

>D7>I57153753>07>V7/E7>5"3%>NY58?APS3H?7>375Y81HD7>3Y>Y/P1?/5D3?5N

F1@>8GCC@123I>?171V2>2"3j/[535CF13C>=F/C1DJCH3C3Y8>D5CD>23Y8>D1?

Y81?F5E571H3@1D/BC@1P3=/CD/8L/BD58>?37/3CD8>1D5FJCD?>3%-n$S3D>

F>VG7=3_)GCC@1238/L>E1231317[5758/230>CD>B7GW38/L>DG313V/8YF/DG`

V?GE1D3@/@ND>375CY8/?50F1?>"3+3@/@3[538/L>E1531317[5758/308G=1P37/N

Q1>7/FJ7>CD5Bs3#238/L>DG313V/8YF/DG30>CD>B7GW37537/0>s3!>3_O!`

85I1F/3 ?>?C53753 CD/?1DJ3Y58503 C>L>B3 V/0/EG3/7/F1V18>?/DJ313Y>0?58N

=/DJ3@81D1@53XD>D3F1CD>@S3XD123?YF>D7GW3V/7HF1CJ3Y8/?>>P8/71D5FJN

7A53>8=/7A"3&/@3CD/F>31V?5CD7>S37/3Y8>IF>B37505F53?3!58W7=813V/?505N

7>3G=>F>?7>5305F>3Y>36/@DG38/C@F51?/71H3XD1P3F1CD>?>@S3@>D>8A53?F/N

CD13C>EF137/Q1>7/F1CD1E5C@121`/(

#:D$WA?$JC=9E=A$<8$9:CH;=Ir<R$G:JJEK9=;<I$:BA?G:3$>G<B=9=;;MR

B$JA:AH=3$ED:8:;;MI$C<JA?D$>?JCEK<C$<;N?GP:Q<?;;MP$>?B?9?P$;=

9CO$:;:C<8:$J:P?@?$N:DA:$=@?$G:J>G?JAG:;=;<O$B$@($U=Gf;@G<$]$WA<P

8:;<P:fAJO$>G:B??RG:;<A=CH;M=$?G@:;M$ ,d"=C?$B=9=A$>G?DEG:AEG:

@($U=Gf;@G<$J?BP=JA;?$J$!F[0$SF$>?$S[$,�/e3$$:$9CO$:;:C<8:$>G<T<;

B?8;<D;?B=;<O$>?9?L;MR$WDJAG=P<JAJD<R$>G?OBC=;<I$B$@?G?9=3$@9=$;=

LMC?$G:;==$;<D:D<R$>G<8;:D?B$;:Q<?;:CH;?I$BG:K9M$,dO!`3?C5=>3F1IJ

YAD/5DCH3Y>7HDJS3Y>E52G3?37/I523=>8>05S3=05371@>=0/3753LAF>3132/F5BN

I1P3?CYF5C@>?37/Q1>7/FJ7>B3?8/[0AS3?08G=3?>V71@F>3D/@>5`b"

_BA?G$JA:AH<$J?C<9:G<8<GE=AJO$C<rH$J$?9;<P$A=8<J?P$<8$C<JA?BD<

,d,CDJ3?3F1CD>?@53132>257DS3C3@>D>8A23_O!`3C>F10/87/3?C5Q5F>"3,=>

2A3Y8>Q1D18G523Q5F1@>2p3_%3GCF>?1HP3L5V8/L>D1QA3?3!58W7=81313+2G8N

STQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*aQ*3BBMJKADEXL_*TA*BOQ*FbG4*FbF*,<*$!*L*!1*c*HHa*$!

STR

1$+/0

)*6

-#4

%/)#&

+,

tC=;M$D?P<JJ<<$J>=Q<:C<JA?BVC<;@B<JA?B$4YZ"7[\

cG=9J=9:A=CH$>G:BC=;<O$4YZ"7[3

9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G3

>G?N=JJ?G3$:D:9=P<D$S_�U3

B<Q=V>G=8<9=;A$XLn=JAB:$CfL<A=C=I

G?JJ<IJD?I$JC?B=J;?JA< a(b(4XS0_U�b[#7�

tC=;$cG:BC=;<O$4YZ"7[3

9?DA?G$fG<9<T=JD<R$;:ED3

9?DA?G$N<C?C?@<T=JD<R$;:ED3

>G?N=JJ?G3$:D:9=P<D$S_�U3

8:P=JA<A=CH$8:B=9Efn=@?$D:N=9G?I

JE9=L;MR$WDJ>=GA<8$a?JD?BJD?I

@?JE9:GJAB=;;?I$$fG<9<T=JD?I$:D:9=P<<3 $�(7($4_Y��7U_

"=IJAB<A=CH;MI$TC=;$4YZ"7[3

9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G

D:N=9GM$P=A?9<D<3$>=9:@?@<D<$<$>J<R?C?@<<

4?JE9:GJAB=;;?@?$<;JA<AEA:$GEJJD?@?$O8MD:

<P$_([($cErD<;:3$TC=;VD?GG=J>?;9=;A$S_�U $_([($a_aXUuXb

tC=;$cG:BC=;<O$4YZ"7[3

9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G

D:N=9GM$P:JJ?BMR$D?PPE;<D:Q<I

S?JJ<IJD?@?$E;<B=GJ<A=A:$9GEKLM$;:G?9?B 4(U(uSXF7aXb_

O>0Y1C13EF57>?3@>21CC113CY5Q1/F1CD>?3V/?58HWp

a(b($4XS0_U�b[#7�3

>G=9J=9:A=CH$cG:BC=;<O$4<CH9<<3

9?DA?G$N<C?C?@<T=JD<R$;:ED3

>G?N=JJ?G

:D:9=P<D$S_�U

2"Y"

J?Q<:CH;?VWD?;?P<T=JD?I$J<AE:Q<=I$B$@?G?9=($#?P>?8<Q<O$JA:AH<$J

ET=A?P$;:8B:;<O$$dXA$AGELM$>?B:C<C$WDJAG=P<8Pe$?LEJC?BC=;:$8:PMJV

C?P$>ELC<D:A?G:$]$>G<BC=TH$B;<P:;<=$?Ln=JAB=;;?JA<$D$>G?LC=P:P

L=8G:L?A<QM$JG=9<$$K<A=C=I$@?G?9:3$<R$;=8:;OA?JA<$;:$JAG?<A=CHJAB=

;=NA=>G?B?9:3$?AJEAJAB<O$DB:C<N<Q<G?B:;;MR$D:9G?B$JG=9<$P=JA;MR

K<A=C=I$<$>C?R<R$EJC?B<I$K<8;<$>G<BC=D:=PMR$<;?JAG:;;MR$G:L?T<R(

FE;DQ<?;:CH;?$ED:8:;;:O$BMr=$C<JA?BD:$;?J<A$R:G:DA=G$<CCfJAV

G:Q<<$]$L=8$;==$T<A:A=Cf$P?@C?$LMAH$;=$>?;OA;?3$?$T=P$<9=A$G=TH$<

>?T=PE$:BA?G$A:D$?L=J>?D?=;$J<AE:Q<=I$B$@?G?9=(

[?9=GK:A=CH;?$ JPMJC?B:O$ ;:>G:BC=;;?JAH$ >?P=n=;<O$ C<JA?BD<

>=G=9$A=DJA?P$JA:AH<$ 8:DCfT:=AJO$B$ A?P3$TA?LM$>G<BC=TH$B;<P:;<=

?Ln=JAB=;;?JA<$<$J>=Q<:C<JA?B$D$>G<T<;:P$A:D<R$>G?OBC=;<I$J$Q=V

CHf$<R$>G=9E>G=K9=;<O$,d#D/@S3Y>0G2/5237/03Y81E17/21p3@/@32A30>

[1V713 D/@>B3 0>@/D1F1CJS3 1F13 @D>3 7/C3 0>@/D1Fve/3$ :$ ;=$ :;:C<8$ =@?

J?9=GK:;<O$,d�$dO!`385I1F/3v3753CD/?1DJ3Y58503C>L>B3V/0/EG3/7/F1N

V18>?/DJ313Y>0?58=/DJ3@81D1@53XD>D3F1CD>@S3XD123?YF>D7GW3V/7HF1CJ

Y8/?>>P8/71D5FJ7A53>8=/7A`b"

7z7]cz

-($5:;G?B:O$J>=Q<N<D:$<$R:G:DA=G<JA<D:$Q=C=EJA:;?BD<$>G=9JA:BV

C=;;?I$>ELC<D:Q<<$ED:8MB:=A$;:$==$?A;?J<P?JAH$D$A=DJA:P$<;N?GP:V

Q<?;;?V:;:C<A<T=JD?@?$A<>:3$J?9=GK:A=CH;?$?AG:K:fn=@?$?8:L?T=;V

;?JAH$:BA?G:$JC?K;MP<$<$8C?L?9;=B;MP<$9CO$K<A=C=I$@?G?9:$U=Gf;V

@G<$J?Q<:CH;MP<3$WD?;?P<T=JD<P<$<$>?C<A<T=JD<P<$>G?LC=P:P<(

+($ [?9=GK:A=CH;?VJPMJC?B:O$;:>G:BC=;;?JAH$>ELC<D:Q<<$ 8:DCfV

T:=AJO$ B$ >?>MAD=$ G:JJP?AG=AH$ >G<T<;M$ B?8;<D;?B=;<O$ >G?OBC=;<I

;:Q<?;:CH;?I$BG:K9M$B$@?G?9=$U=Gf;@G<($FE;DQ<?;:CH;:O$;:@GE8V

D:$B$D?;A=DJA=$JA:AH<$N?A?D?><<$C<JA?BD<$?A$<P=;<$SEJJD?I$XLn<;M

"cU73$>G=9B:GOfn=I$?J;?B;?I$A=DJA$JA:AH<3$]$<CCfJAG:Q<O$>G?OBV

C=;<O$ ;:Q<?;:CH;?I$ BG:K9M3$ J?9=GK:A=CH;?VJPMJC?B:O$ ;:@GE8D:$ ]

<;N?GP:Q<?;;MI$>?B?9$9CO$G:JJP?AG=;<O$B$JA:AH=$>G<T<;$B?8;<D;?V

B=;<O$B$@?G?9=$U=Gf;@G<$>G?OBC=;<I$;:Q<?;:CH;?I$BG:K9M(

%($Y<;@B?JA<C<JA<T=JD<I$:;:C<8$A=DJA:$>?D:8:C3$TA?$>G=9B:G=;<=

JA:AH<$<8?LG:K=;<=P$C<JA?BD<$?A$<P=;<$SEJJD?I$XLn<;M$"cU7$;=

JB<9=A=CHJABE=A$?$ J?B=Gr=;<<$G=9:DQ<=I$JG=9JAB:$P:JJ?B?I$<;N?GV

P:Q<<$dU=8:B<J<P?I$U=Gf;@G<;JD?I$@:8=AM$dcG?JA?$UfGD:e$9=IV

JAB<I3$;:>G:BC=;;MR$;:$B?8LEK9=;<=$;:Q<?;:CH;?I$G?8;<$<$J?89:;<=

G=:CH;?I$E@G?8M$>G<T<;=;<O$BG=9:$?Ln=JAB=;;?I$L=8?>:J;?JA<\$WA?$]

C<rH$D?;JA:A:Q<O$N:DA:$B$N?GP=$9?DEP=;A:CH;?@?$B?J>G?<8B=9=;<O

?9;?@?$<8$>G<P=G?B$>G?OBC=;<I$;:Q<?;:CH;?I$BG:K9M$B$@($U=Gf;@V

G<3$>G<T<;M$D?A?GMR$:BA?G3$?8:L?T=;;MI$JE9HL:P<$K<A=C=I3$>?>MV

A:C:JH$G:JJP?AG=AH$B$JB?=I$>ELC<D:Q<<(

SST

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

SSS

1$+/0

)*6

-#4

%/)#&

+,

P?I$ WA?I$ ?Ln;?JA<$ ,;:>G<P=G3$ ;:Q<?;:CH;?=$ 9?JA?<;JAB?/($ "?JA?V

<;JAB?$ ,;?$;=$T=JAH/$G:JJP:AG<B:=AJO$#?;JA<AEQ<=I$S?JJ<IJD?I$F=V

9=G:Q<<$D:D$:LJ?CfA;?$;=?As=PC=P:O$<$?RG:;O=P:O$@?JE9:GJAB?P$Q=;V

;?JAH($"?JA?<;JAB?l]$WA?$>?C?K<A=CH;?=$P;=;<=$T=C?B=D:$?$J:P?P$J=L=

D:D$?AG:K=;<=$=@?$J?Q<:CH;?I$?Q=;D<(

c"#()2A* 0"CL=2K&Al]$ >G<?LG=A:=P:O$ >?C?K<A=CH;:O$ <C<$ ?AG<Q:V

A=CH;:O$?Ln=JAB=;;:O$?Q=;D:$9=C?BMR$D:T=JAB$C<Q:($"=C?B:O$G=>EA:V

Q<O$>G=9JA:BCO=A$J?L?I$;:L?G$D:T=JAB$<$?Q=;?D3$J$D?A?GMP<$<R$;?J<V

A=CH$:JJ?Q<<GE=AJO$B$@C:8:R$JB?<R$D?;AG:@=;A?B3$DC<=;A?B3$>?AG=L<V

A=C=I3$D?CC=@$>?$G:L?A=3$>?DC?;;<D?B$ ,;:>G<P=G3$9CO$r?EVL<8;=J:/3

<8L<G:A=C=I$,9CO$BML?G;MR$9?CK;?JA=I/$<$>=GJ?;<N<Q<GE=AJO$JG=9<

9GE@<R$>G?N=JJ<?;:C?B$B$J??AB=AJABEfn=I$?LC:JA<$9=OA=CH;?JA<(

YfL:O$DG<A<T=JD:O$<;N?GP:Q<O$?$T=C?B=D=$B$8:B<J<P?JA<$?A$=@?

<;9<B<9E:CH;MR$?J?L=;;?JA=I$B?J>G<OA<O3$J:P??Q=;D<3$J:P?P;=;<O3

B$ A?P$ T<JC=$ D?;JAGEDA<B;:O$ <C<$ J:P:O$ 9?LG?K=C:A=CH;:O$ DG<A<D:3

P?K=A$LMAH$B?J>G<;OA:$WA<P$T=C?B=D?P$D:D$(1&;32A($XL<K=;;MI$T=V

C?B=D$P?K=A$<J>MA:AH$TEBJAB?$E;<K=;<O3$=JC<$?$;=P$G:J>G?JAG:;=;:

D:D:OVC<L?$;=@:A<B;:O$<;N?GP:Q<O(

X9;:D?$B$>G:B?B?P$JPMJC=$DC=B=A:3$A?$=JAH$G:J>G?JAG:;=;<=$8:B=V

9?P?$C?K;MR$JB=9=;<I3$>?G?T:n<R$T=JAH$<$9?JA?<;JAB?$9GE@?@?$C<Q:

<C<$>?9GMB:fn<R$=@?$G=>EA:Q<f$,JA$-+)$!#$SF/3l]$WA?$E@?C?B;?=$>G=V

JAE>C=;<=3$D?A?G?=$8:DCfT:=AJO$B$A?P3$TA?$?$T=C?B=D=$<C<$?G@:;<8:V

Q<<$G:J>G?JAG:;OfAJO$BMJD:8MB:;<O3$J?9=GK:n<=$8:B=9?P?$C?K;M=

>?G?T:n<=$JB=9=;<O($u:D<=$JB=9=;<O$?>G=9=COfAJO$T=G=8$AG<$?LO8:V

A=CH;MR$>?D:8:A=CO\$D:D$<;N?GP:Q<O3$B?V>=GBMR3$CK<B:O3$;=$J??AB=AV

JABEfn:O$9=IJAB<A=CH;?JA<3$B?VBA?GMR3$D:D$<;N?GP:Q<O$?L$?J?LMR

9=IJAB<OR$<$>?JAE>D:R$ ,?$;:GEr=;<<$ 8:D?;?B3$>G?N=JJ<?;:CH;?I3$B

T:JA;?JA<$9=C?B?I3$WA<D<3$P?G:CH;MR$>G:B<C3$?$>G?A<B?G=T<<$89G:V

B?PE$JPMJCE/^$;:D?;=Q3$B$AG=AH<R3$AG=LE=AJO3$TA?LM$A?PE3$DA?$WA<$JB=V

9=;<O$G:J>G?JAG:;OC3$LMC?$>G<$WA?P$<8B=JA;?$?L$<R$C?K;?JA<(

"CO$?L?J;?B:;<O$>G:B?B?I$DB:C<N<D:Q<<$BMJD:8MB:;<I$9?8;:B:V

A=C<$<$JE9$B$JC?K;MR$JCET:OR$>G<L=@:fA$D$C<;@B<JA<T=JD?I$WDJ>=GA<V

8=($b$>G=9=C:R$JB?=I$D?P>=A=;Q<<$C<;@B<JAMVWDJ>=GAM3$8;:O$8:D?;?V

P=G;?JA<$G=T=B?@?$>?B=9=;<O$<$>G:B<C:$>?JAG?=;<O$A=DJA?B$B$G:8;MR

JN=G:R$D?PPE;<D:Q<<3$B$A?P$T<JC=$B$LMAE3$B$KEG;:C<JA<D=3$B$>?C<A<V

D=3$<JA?CD?BMB:fA$D?;NC<DA?@=;;M=$BMJD:8MB:;<O$B$D?;A=DJA=$<$B

D?;J<AE:Q<<3$B$D?A?GMR$?;<$LMC<$;:><J:;M$<C<$>G?<8;=J=;M(

4G:;<QM$ D?P>=A=;Q<<$ <$ ?AB=AJAB=;;?JA<$ C<;@B<JA?B$ ?T=GT=;M

?T=;H$T=AD?($�8MD?B=9M$;=$E>?C;?P?T=;M$?>G=9=COAH$>G:B9<B?JAH$<C<

C?K;?JAH$ JB=9=;<I3$ B=G<N<Q<G?B:AH$ BMJD:8MB:;<Ol]$ WA?$ 9=C?$ JE9:3

;?$?;<$BMOBCOfA$A=$NG:@P=;AM$A=DJA:3$D?A?GM=$P?@EA$LMAH$B=G<N<V

Q<G?B:;M$JE9?P3$>?A?PE$TA?$<P=fA$O8MD?BEf$N?GPE$EAB=GK9=;<I$?

(DNEU6M"9BNZF?E@\F6GA@VHANEAWFNBAF6ANNGFJ>HD@AXNZ>?@\]6EFBNE>H61-)6Z>6NE"6ShRm6SIT6l*/d

M"S"` *?DEBDX6]D?DBEF?ANEABD6YBNZF?EA[6Z>6JD@@>cBDEFV>?AA6JFG

<"4=$g*;:8MB:=AJO$?Ln=JAB=;;:O$?Q=;D:$C<T;?JA<3$P=G:$9ER?B;MR3

J?Q<:CH;MR$D:T=JAB$C<T;?JA<3$OBCO=AJO$B:K;=Ir<P$;=P:A=G<:CH;MP

LC:@?P$T=C?B=D:$;:GO9E$J$=@?$K<8;Hf3$JB?L?9?I3$89?G?BH=P($c?;OA<=

T=JA<$BDCfT:=A$B$J=LO$AG<$:J>=DA:\

:/$R:G:DA=G<JA<D:$J:P?I$C<T;?JA<$ ,D:T=JAB:$C<Q:/^$;G:BJAB=;;?=

9?JA?<;JAB?$T=C?B=D:3$9?LC=JAH3$T=JA;?JAH3$LC:@?G?9JAB?$9Er<$<$T<V

JA:O$J?B=JAH^

L/$?Ln=JAB=;;:O$?Q=;D:$C<T;?JA<$ ,?AG:K=;<=$D:T=JAB$C<Q:$B$?LV

n=JAB=;;?P$J?8;:;<</($c?;OA<=$T=JA<$<8;:T:CH;?$>G=9>?C:@:=A$;:V

C<T<=$>?C?K<A=CH;?I$?Q=;D<^

B/$?Ln=JAB=;;:O$?Q=;D:3$>G<;OA:O$J:P?I$C<T;?JAHf3$J>?J?L;?JAH

T=C?B=D:$?Q=;<B:AH$JB?<$>?JAE>D<3$9=IJAB?B:AH$B$;G:BJAB=;;?I$K<8V

;<$ B$ J??AB=AJAB<<$ J$ >G<;OAMP<$ B$ ?Ln=JAB=$ P?G:CH;MP<$ ;?GP:P<3

>G:B<C:P<$<$AG=L?B:;<OP<(

"<JDG=9<A:Q<O$T=C?B=D:$B$?Ln=JAB=;;?P$P;=;<<$<$=JAH$L3&h"3&"

%"4=&(

c?9*;(4=(&34=)(J*>?;<P:=AJO$J?>G?B?K9:fn==JO$>?C?K<A=CH;?I

?Q=;D?I$C<Q:$?AG:K=;<=$=@?$D:T=JAB$B$ =@?$J?LJAB=;;?P$J?8;:;<<($b

?AC<T<=$?A$T=JA<3$9?JA?<;JAB?l]$ WA?$;=$>G?JA?$?Q=;D:$ J??AB=AJAB<O

JB?=I$C<T;?JA<$<$JB?<R$>?JAE>D?B$J?Q<:CH;MP$<C<$P?G:CH;MP$;?GV

P:P3$;?$>G=K9=$BJ=@?l]$?nEn=;<=$JB?=I$Q=;;?JA<$D:D$T=C?B=D:$B??LV

n=$,T=C?B=T=JD?=$9?JA?<;JAB?/3$D:D$D?;DG=A;?I$C<T;?JA<$,C<T;?=$9?V

JA?<;JAB?/3$D:D$>G=9JA:B<A=CO$?>G=9=C=;;?I$J?Q<:CH;?I$@GE>>M$<C<

?Ln;?JA<$ ,;:>G<P=G3$>G?N=JJ<?;:CH;?=$9?JA?<;JAB?/3$Q=;;?JA<$J:V

SSh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

SSI

1$+/0

)*6

-#4

%/)#&

+,

B$A=DJA=$<8C?K=;$GO9$N:DA?B3$J?>G?B?K9:fn<IJO$D:D<PVA?$)E)(;(J3

BMA=D:fn<P$<8$;<R3$A:D?I$BMB?93$D:D$>G:B<C?3$AG:DAE=AJO$D:D$G:8;?V

B<9;?JAH$>G=9>?C?K=;<O($bMB?9$P?K=A$LMAH$;=B=G;MP$>?$9BEP$>G<T<V

;:P\$,-/l?9;?$<8$C?@<T=JD<$>G=9r=JABEfn<R$=PE$EAB=GK9=;<I$?$N:DA:R

;=$J??AB=AJABE=A$9=IJAB<A=CH;?JA<^$,+/l?r<L?T;:$J:P:$C?@<D:$G:JJEKV

9=;<I$,N:DAM$<8C?K=;M$9?JA?B=G;?3$;?$A:D?I$BMB?9$;:$<R$?J;?B:;<<

J9=C:AH$;=CH8O/($bMB?9l]$WA?$?J?8;:;;?$JN?GP<G?B:Br==JO$P;=;<=(

bMB?9$P?K=A$LMAH$BMG:K=;$B$N?GP=$EAB=GK9=;<O3$TA?$>?9T=GD<V

B:=A$EB=G=;;?JAH$@?B?GOn=@?$B$=@?$>G:B<CH;?JA<(

78C?K=;<=$P;=;<O$,EJA;?$<C<$><JHP=;;?/3$B$?AC<T<=$?A$EAB=GK9=V

;<O$?$N:DA:R3$?LMT;?$J?>G?B?K9:=AJO$ED:8:;<=P$;:$;?J<A=CO$P;=;<O(

[G(\$-10>8>?3G5P/F$]$D?;JA:A:Q<O$N:DA:($_$BMJD:8MB:;<O$,-/$c30G2/WS

-10>8>?3G5P/F$<$ ,+/$ &/@30G2/5D37/E/FJ71@S3-10>8>?3G5P/F$ BMG:K:fA

P;=;<O\$B$>=GB?P$JCET:=$WA?$P;=;<=$J:P?@?$@?B?GOn=@?$,c30G2/W/3$B?

BA?G?P$JCET:=l]$P;=;<=$;:T:CH;<D:$,&/@30G2/5D37/E/FJ71@/($a;=;<=

J?9=GK<A$<;N?GP:Q<f3$;?$;=$?$J:P?I$9=IJAB<A=CH;?JA<$,N:DA:R/3$:$?

A?P3$D:D?I$?LG:8$9=IJAB<A=CH;?JA<$=JAH$E$@?B?GOn=@?(

a;=;<=$?$A?P$<C<$<;?P$C<Q=3$ =@?$9=OA=CH;?JA<$<$9=C?BMR$D:T=V

JAB:R$P?K=A$LMAH$BMG:K=;?$B$@GEL?I3$;=>G<C<T;?I$N?GP=($u:D?=$BMV

G:K=;<=$P;=;<O$P?K=A$ 8:9=AH$T=JAH$<$9?JA?<;JAB?3$;=@:A<B;?$?AG:V

8<AHJO$;:$9=C?B?I$G=>EA:Q<<$WA?@?$C<Q:(

#:D$?J?LM=$N?GPM$BMG:K=;<O$P;=;<O$B$C<;@B<JA<T=JD?I$WDJ>=GA<8=

G:JJP:AG<B:fAJO$RE9?K=JAB=;;M=$>G<=PM$<;N?GP<G?B:;<O\$?LG:8;M=

JG=9JAB:l]$AG?>M$,P=A:N?G:3$@<>=GL?C:3$<G?;<O/^$JA<C<8:Q<O$>?9$RE9?V

K=JAB=;;M=3$d;=KEG;:C<JAJD<=e$K:;G?BM=$N?GPM^$D?JB=;;M=$G=T=BM=

:DAM3$B$A?P$T<JC=$G<A?G<T=JD<I$B?>G?J^$;:P=D$D:D$>G<=P$;:B=9=;<O$:E9<V

A?G<<$;:$K=C:=PM=$BMB?9M$J$>?P?nHf$;=D?A?G?I$<;N?GP:Q<<(

a;=;<=$P?K=A$R:G:DA=G<8?B:AHJO$D:D$?L?J;?B:;;?=$<C<$;=?L?JV

;?B:;;?=3$D:D$9?D:8:;;?=$<C<$L=89?D:8:A=CH;?=3$;?$;<D?@9:$;=$R:G:DV

A=G<8E=AJO$D:D$J??AB=AJABEfn==$<C<$;=$J??AB=AJABEfn==$9=IJAB<A=CHV

;?JA<($cG:B?$BMG:K:AH$P;=;<=$8:DG=>C=;?$8:$@G:K9:;:P<$S?JJ<<$8:V

D?;?9:A=CH;?$,#?;JA<AEQ<O$SF3$JA(l+)/3$?;?$B$>G?N=JJ<?;:CH;?P$:JV

>=DA=$D:J:=AJO$KEG;:C<JA?B3$G:L?A;<D?B$JG=9JAB$P:JJ?B?I$D?PPE;<V

D:Q<<$,p:D?;$?$[a73$JA(l&'3$>(l)/$<$?RG:;O=AJO$P=K9E;:G?9;MP<$:DV

A:P<$ ,B$T:JA;?JA<3$bJ=?Ln=I$9=DC:G:Q<=I$>G:B$T=C?B=D:3$a=K9E;:V

G?9;MP$>:DA?P$?$@G:K9:;JD<R$<$>?C<A<T=JD<R$>G:B:R3$#?;B=;Q<=I$?

8:n<A=$>G:B$T=C?B=D:$<$?J;?B;MR$JB?L?9/(

[B?IJAB?$LMAH$EAB=GK9=;<=P$?$N:DA:R3$?Q=;?T;MP$EAB=GK9=;<=P3

>G=9>?C?K=;<=P$<lA(l>(l]$ WA?$ JB?IJAB?$J:P?@?$BMJD:8MB:;<O3$ b(0J2

)E02h"3&A$ <;N?GP:Q<<3$ ?Ls=DA<B;?$ =PE$ >G<JEn:O($ 0?CHr<;JAB?

BMJD:8MB:;<I$?AG:K:fA$TH=VA?$C<T;?=$P;=;<=3$;?$WA?$P;=;<=$P?K=A

LMAH$BMG:K=;?$B$G:8C<T;MR$N?GP:R\$>G=9>?C?K=;<O3$EAB=GK9=;<O$?

N:DA:R$<lA(l>(

N:DA:R3$BMG:K:fn<R$8;:;<=$:BA?G:3$<$A=3$D?A?GM=$;=$P?@EA$LMAH$B=V

G<N<Q<G?B:;M3$>?A?PE$TA?$<P=fA$N?GPE$BMG:K=;;?@?$P;=;<O($#G?V

P=$A?@?3$C<;@B<JAM$>?P?@:fA$EA?T;<AH3$<9=A$B$A=DJA=$G=TH$?$;:GEr=V

;<OR$8:D?;:3$?$;=9?JA?I;?P$<C<$BMR?9On=P$8:$G:PD<$89G:B?@?$JPMJV

C:$>?B=9=;<<$A?@?$<C<$<;?@?$C<Q:3$A?$=JAH$J??Ln:=AJO$?$=@?$D?;DG=AV

;MR$>G?JAE>D:R3$<C<$9:=AJO$?L?Ln=;;:O$?Q=;D:$=@?$C<T;?JA<3$D?A?V

GEf$;=B?8P?K;?$B=G<N<Q<G?B:AH$,D:D$<$P;=;<=/($cG<$WA?P$?Q=;<AH

JB=9=;<O$D:D$>?G?T:n<=$P?K=A$A?CHD?$JE9=L;:O$<;JA:;Q<O$]$WA?$>G:V

B?B:O3$:$;=$C<;@B<JA<T=JD:O$ $R:G:DA=G<JA<D:($Y<;@B<JAM$B$>G=9=C:R

JB?=I$D?P>=A=;Q<<$P?@EA$A:DK=$BMOB<AH$;=>G<C<T;MI3$J?Q<:CH;?$;=V

>G<=PC=PMI$)*'(3'0"=3(J*="'4="$R:G:DA=G$N?GPEC<G?B?D3$;:C<T<=$B

;<R$;=>G<JA?I;MR3$>?A=;Q<:CH;?$?JD?GL<A=CH;MR$D?;JAGEDQ<I$<$>G<V

JEAJAB<=$B$A=DJA=$BMJD:8MB:;<I$;=EP=JA;MR3$;=$J??AB=AJABEfn<R$N:DV

A<T=JD?I$A=P:A<D=$A=DJA:$<C<$N?GP:CH;?$8:OBC=;;?I$B$A=DJA=$A=P=$D:D

:BA?GJD?PE$8:PMJCE3$:$A:DK=$ED:8:AH$;:$<P=fn==JO$B$A=DJA=$?L?J;?V

B:;<=$?Q=;?D$<$BMB?9?B$C<L?$;:$?AJEAJAB<=$A:D?@?$?L?J;?B:;<O(

!JA:;:BC<B:AH3$LMC?$C<$:BA?GE$A=DJA:$<8B=JA;?$?$C?K;?JA<$G:J>G?V

JAG:;O=PMR$<P$JB=9=;<I3$C<;@B<JA<T=JD:O$WDJ>=GA<8:$A:DK=$;=$P?K=A$<

;=$9?CK;:\$?AB=A$;:$WA?A$B?>G?J$N:DA<T=JD<$?8;:T:=A$G=r=;<=$B?>G?J:

?$;:C<T<<$EPMJC:$;:$J?B=Gr=;<=$>G=JAE>C=;<O3$:$>?9?L;M=$B?>G?JM

?A;?JOAJO$D$D?P>=A=;Q<<$JC=9JAB<O$<$JE9:($,m?AO$B$;=D?A?GMR$JCET:OR

WDJ>=GAVC<;@B<JA$P?K=A$?D:8:AH$>G<$G=r=;<<$WA?@?$B?>G?J:$J?9=IJAB<=

JC=9JAB<f3$ED:8:B$;:$<P=fn<=JO$B$WA?P$K=$<C<$9GE@?P$A=DJA=$A?@?$K=

:BA?G:$EAB=GK9=;<O3$>GOP?$>G?A<B?>?C?K;M=$?J>:G<B:=PMP(/

bMG:K=;<=$JB?<R$P;=;<I$<$EL=K9=;<I3$A?$=JAH$>?CH8?B:;<=$JB?L?V

9?I$JC?B:3$;:C:@:=A$?J?LM=$?LO8:;;?JA<$<$J?>G?B?K9:=AJO$;=D?A?GMV

P<$?@G:;<T=;<OP<3$EJA:;?BC=;;MP<$8:D?;?P($S=TH$<9=A$?$;=?LR?9<V

P?JA<$EB:K:AH$>G:B:$<$G=>EA:Q<f$9GE@<R$C<Q3$?RG:;OAH$ 89?G?BH=$<

;G:BJAB=;;?JAH$?Ln=JAB:3$?Ln=JAB=;;MI$>?GO9?D3$ @?JE9:GJAB=;;Ef

L=8?>:J;?JAH(

63"3&"3$B$?AC<T<=$?A$EAB=GK9=;<O$?$N:DA:R3$;=$P?K=A$J??AB=AJAB?V

B:AH$<C<$;=$ J??AB=AJAB?B:AH$9=IJAB<A=CH;?JA<3$ A:D$D:D$?AG:K:=A$;=

G=:CH;Ef$ 9=IJAB<A=CH;?JAH3$ :$ ==$ B?J>G<OA<=$ T=C?B=D?P3$ ;=$ P<G3$ ;?

THfVA?$C<T;Ef$D:GA<;E$P<G:3$?9;:D?$?;?$P?K=A$>?9AB=GK9:AHJO$<C<

;=$>?9AB=GK9:AHJO$N:DA:P<3$J?LMA<OP<$?Ls=DA<B;?I$9=IJAB<A=CH;?V

JA<($a;=;<=$P?K=A$?><G:AHJO$;:$N:DAM3$WA<P$?;?$?AC<T:=AJO$?A$;(N

JE4#23$<$J?9=GK:AH$?Q=;DE$N:DA?B$<$<R$D?PP=;A:G<<3$B$WA?P$=@?$?AV

C<T<=$?A$D323&A(

a;=;<=$P?K=A$N?GP<G?B:AHJO$;:$?J;?B=$N:DA?B$<C<$K=$LMAH$>G=9V

B8OAMP3$;=$?J;?B:;;MP$;:$N:DA:R($t=C?B=D$P?K=A$N?GP<G?B:AH$JB?=

P;=;<=$J?8;:A=CH;?3$G:Q<?;:CH;?$?Q=;<B:O$N:DAM3$<C<$L=JJ?8;:A=CHV

;?3$;=$?A9:B:O$J=L=$?AT=A:$B$A?P3$>?T=PE$?;$A:D$JT<A:=A($b$JCET:=3$D?@9:

SSL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

SSM

1$+/0

)*6

-#4

%/)#&

+,

[A:AHO$-%2$!#$SF$?>G=9=CO=A$?JD?GLC=;<=$D:D$E;<K=;<=$T=JA<$<$9?V

JA?<;JAB:$9GE@?@?$C<Q:3$BMG:K=;;?=$B$;=>G<C<T;?I$N?GP=($XAJf9:

BMA=D:=A$J=GH=8;:O$8:9:T:$C<;@B<JA?B$>G<$>G?<8B?9JAB=$WDJ>=GA<8M$>?

9=C:P$?L$?JD?GLC=;<<$]$BMOBC=;<=$>G<C<T;?@?$<C<$;=>G<C<T;?@?$R:V

G:DA=G:$N?GPEC<G?B?D3$;:C<T<=$B$;<R$3"C0&4=(53EF.*C(="3K&2#$3(*(4N

'(01&="#$3EF*ADE'()EF*40";4=)($U:C<T<=$A:D?I$C=DJ<D<$B?$NG:8=3$>G=9V

JA:BCOfn=I$J?L?I$;=@:A<B;Ef$:9G=J;Ef$?Q=;DE$J?L=J=9;<D:$,B$JCET:=

?T;?@?3$C<T;?@?$?Ln=;<O/$<C<$8:?T;Ef$R:G:DA=G<JA<DE$>=GJ?;:K:$,B

KEG;:C<JAJD?P$A=DJA=/3$J$BMJ?D?I$JA=>=;Hf$B=G?OA;?JA<$>?8B?CO=A$C<;V

@B<JA:P$9<:@;?JA<G?B:AH$A:DEf$NG:8E$D:D$G=:C<8:Q<f$G=T=B?@?$:DA:

?JD?GLC=;<O($U?$>G<8;:;<=$NG:8M$J?LJAB=;;?$J?JA?OBr<PJO$?JD?GLC=V

;<=P$OBCO=AJO$>G=G?@:A<B?I$JE9:3$:$;=$8:9:T=I$C<;@B<JA?BVWDJ>=GA?B(

cG=9JA:BC=;<O$?$>G<C<T<OR$<$;=>G<C<T;?JA<$J<CH;?$B:GH<GEfAV

JO3$>?JD?CHDE$8:B<JOA$?A$BG=P=;<$<$P=JA:$D?PPE;<D:Q<<3$?A$WA;?DECHV

AEG;?I$J>=Q<N<D<3$>?C:$<$B?8G:JA:$D?PPE;<D:;A?B$,BMG:K=;<O3$EP=V

JA;M=$<$J?Q<:CH;?$>G<=PC=PM=$B$G:8@?B?G=$9BER$>G<OA=C=IV>?9G?JAV

D?B3$P?@EA$8BET:AH$D:D$?JD?GL<A=CH;M=$B$<R$K=$G=T<$>G<$G:8@?B?G=$J?

rD?CH;MP$ET<A=C=P/(

[>=Q<:CH;M=$<JJC=9?B:;<O$>?P?@C<$EA?T;<AH$J><J?D$>?A=;Q<:CHV

;?$?JD?GL<A=CH;?I$ ,<;B=DA<B;?I3$GE@:A=CH;?I/$C=DJ<D<($Y<;@B<JA<V

T=JD<=$R:G:DA=G<JA<D<3$D?A?GMP<$ $9?CK;?$?LC:9:AH$BMJD:8MB:;<=3

TA?LM$=@?$P?K;?$LMC?$DB:C<N<Q<G?B:AH$D:D$?JD?GL<A=CH;?=3$]$ WA?

;=Q=;8EG;?JAH3$;=>G<JA?I;?JAH$JC?B$<$BMG:K=;<I3$JG:B;=;<=$J$?9<?8V

;MP<$<JA?G<T=JD<P<$<$C<A=G:AEG;MP<$>=GJ?;:K:P<3$C=DJ<D:$<$NG:V

8=?C?@<O3$D?A?G:O$?JD?GLCO=A$?Ln=JAB=;;Ef$P?G:CH3$;:GEr:=A$;?GV

PM$ ?Ln=JAB=;;MR$ >G<C<T<I($ ZA:$ C=DJ<D:$ B$ P?P=;A$ ?>ELC<D?B:;<O

A=DJA:$B?J>G<;<P:=AJO$L?CHr<;JAB?P$TC=;?B$9:;;?@?$J?Q<EP:$D:D$;=V

9?>EJA<P:O$B$D?;DG=A;?P$A=DJA=(

b=9En<P$9<:@;?JA<T=JD<P$>G<8;:D?P$(4'(01&="#$3(4=&*JC?B:$<C<

BMJD:8MB:;<O$OBCO=AJO$ 3"C0&#&%32A* b(0J2* )E02h"3&A$ ?L?Ln=;;?I

?AG<Q:A=CH;?I$?Q=;D<$C<Q:3$D?A?G:O$>?9GMB:=A$=@?$>G=JA<K$B$@C:8:R

?DGEK:fn<R$<$;:;?J<A$En=GL$EB:K=;<f$D$J:P?PE$J=L=(

93)"'=&)32A*#"'4&'2l]$C=DJ<D:3$D?A?G:O$P?K=A$E>?AG=LCOAHJO$D:D

N?GP:$?JD?GLC=;<O$<C<$E;<K=;<O$:9G=J:A:$G=T<$<C<$AG=AH=@?$C<Q:^

>?A=;Q<:CH;?$?JD?GL<A=CH;:O($#$<;B=DA<B;?I$C=DJ<D=$?A;?JOAJO$>G=KV

9=$BJ=@?$JC?B:$<$BMG:K=;<O3$E>?AG=LC=;<=$D?A?GMR$B$?Ln=;<<$;:GEV

r:=A$;?GPM$?Ln=JAB=;;?I$P?G:C<($ZA?$P?@EA$LMAH$D:D$ JC?B:$K:GV

@?;;M=3$9<:C=DA;M=3$>G?JA?G=T;M=3$A:D$<$JC?B:3$?A;?JOn<=JO$D$J?LV

JAB=;;?$C<A=G:AEG;?PE$O8MDE$,E>?AG=LC=;<=$C<A=G:AEG;MR$JC?B$A<>:

Y>0F5Q3$ 258V/?5Q$ B$D?;DG=A;?I$J<AE:Q<<$?Ln=;<O$P?K=A$>G?A<B?G=V

T<AH$;?GP:P$?Ln=JAB=;;?I$P?G:C<$B$;=$P=;Hr=I$JA=>=;</(

t:n=$BJ=@?$D$<;B=DA<B;?I$C=DJ<D=$?A;?JOAJO$JC?B:$JC=9Efn<R$D:V

A=@?G<I\

u?$?LJA?OA=CHJAB?3$TA?$G:8;M=$N?GPM$<;N?GP:Q<<$?$P<G=$<$CfV

9OR$>?VG:8;?PE$J??A;?JOAJO$J$ ==$B=G<N<Q<GE=P?JAHf3$<P==A$G=r:fV

n==$8;:T=;<=$9CO$C<;@B<JA<T=JD?I$WDJ>=GA<8M$>?$9=C:P$?$DC=B=A=3$?L

?JD?GLC=;<<$<C<$?L$E;<K=;<<$T=JA<$<$9?JA?<;JAB:$<$?T=G;=;<<$9=C?V

B?I$G=>EA:Q<<($7;N?GP:Q<O3$G:J>G?JAG:;O=P:O$:BA?G?P$B$N?GP=$EAV

B=GK9=;<I$?$N:DA:R3$>?9:=AJO$B$A=DJA=$D:D$=@?$8;:;<=$<$:BA?P:A<T=JV

D<3$9GE@<P<$JC?B:P<3$L=JJ?8;:A=CH;?$B?J>G<;<P:=AJO$:E9<A?G<=I$D:D

<JA<;;:O($7P=;;?$D$;=I$>G=9sOBCO=AJO$AG=L?B:;<=$J??AB=AJAB<O$9=IV

JAB<A=CH;?JA<$<$>G<P=;O=AJO$>G?Q=9EG:$B=G<N<D:Q<<($�JC<$B$N?GP=

EAB=GK9=;<I$?$N:DA:R$G:J>G?JAG:;OfAJO$C?K;M=$JB=9=;<O$,C?K;?JAH

D?A?GMR3$G:B;?$D:D$<$EPMrC=;;?JAH$G:J>G?JAG:;=;<O3$9?D:8MB:=AJO

JC=9JAB<=P$<C<$J??AB=AJABEfn=I$JA?G?;?I$B$JE9=L;?P$>G?Q=JJ=/3$A?

P?K;?$@?B?G<AH$?$DC=B=A=$<C<$K=$?$9?LG?J?B=JA;?P$8:LCEK9=;<<$:BV

A?G:3$TA?$BC=T=A$J??AB=AJABEfn<=$>G:B?BM=$>?JC=9JAB<O(

�JC<$K=$<;N?GP:Q<O$G:J>G?JAG:;O=AJO$B$N?GP=$BMG:K=;<O$P;=V

;<O3$A?$?;:$:E9<A?G<=I$8:B=9?P?$B?J>G<;<P:=AJO$DG<A<T=JD<3$D:D$@<V

>?A=A<T=JD:O3$ ;=$ ?LO8:A=CH;?$ <JA<;;:O^$ ?Ln=JAB=;;MI$ G=8?;:;J$ ?A

G:J>G?JAG:;=;<O$A:D?I$<;N?GP:Q<<$JC:L==($[B=9=;<O3$AG:;JC<GE=PM=

B$N?GP:R$P;=;<O3$?A?LG:K:fA$;=$G=:CH;Ef$9=IJAB<A=CH;?JAH3$;=$G=V

:CH;MI$P<G3$:$A?A$?LG:8$9=IJAB<A=CH;?JA<3$D?A?GMI$<P==AJO$B$<;9<V

B<9E:CH;?P$J?8;:;<<$:BA?G:$<C<$B$D?CC=DA<B;?P$J?8;:;<<$A?I$@GE>V

>M$Cf9=I3$P;=;<O$<$<;A=G=JM$D?A?G?I$?A?LG:K:=A$:BA?G3l]$B(DJ(hN

3E5*J&03$ D:D$;:8MB:fA$=@?$C?@<D<$<$C<;@B<JAM3$<C<$'20=&3L*J&02(

X;<$G:JJD:8MB:fA$:E9<A?G<<$;=$?$A?P3$TA?$=JAH$B$9=IJAB<A=CH;?JA<3

;=$?$A?P3$D:D?B$T=C?B=D$B$K<8;<3$:$?$A?P3$D:D?I$?LG:8$9=IJAB<A=CH;?V

JA<3$D:D?I$?LG:8$WA?@?$T=C?B=D:$JC?K<CJO$E$9:;;?@?$:BA?G:($#:GA<;:

P<G:$<8ET:=AJO3$?><JMB:=AJO$B$?J?LMR$A=GP<;:R3$;?$;=$?Q=;<B:=AJO

>?$>:G:P=AGE$J??AB=AJAB<O$9=IJAB<A=CH;?JA<(

#$<;N?GP:Q<<3$G:J>G?JAG:;O=P?I$B$N?GP=$P;=;<O$<$=@?$G:8;?B<9V

;?JA=I$,>G=9>?C?K=;<O$<$J?P;=;<O3$:$A:DK=$?Q=;D</3$;=$>G=9sOBCO=AV

JO$AG=L?B:;<=$J??AB=AJAB<O$9=IJAB<A=CH;?JA<($�JC<$:BA?G$G:J>G?JAV

G:;O=A$ B$ N?GP=$ P;=;<O$ ;=9?JA?B=G;Ef$ <C<$ 9:K=$ 8:B=9?P?$ CK<BEf

<;N?GP:Q<f3$A?$=@?$;=CH8O$?LB<;<AH$B$DC=B=A=\$B=9H$?;$?A?LG:K:=A

JB?f$D:GA<;E$P<G:(

F?GP:$P;=;<O$B$A=DJA:R$[a7$OBCO=AJO$ J>=Q<N<T=JD<P$>G<=P?P

J:P?8:n<AM$:BA?G?B$?A$B?8P?K;MR$>G=A=;8<I$D$D:T=JABE$ $<;N?GP:V

Q<<3$A(l=($D$==$<JA<;;?JA<($U?$>G<JEAJAB<=$P;=;<O$B$A=DJA=$;=$?8;:T:=A

?LO8:A=CH;?I$;=9?LG?J?B=JA;?JA<$:BA?G:($U:>G?A<B3$BMG:K=;<=$:BV

A?G?P$JB=9=;<I$<$PMJC=I$D:D$P;=;<O$T:JA?$JB<9=A=CHJABE=A$?L$?AB=AV

JAB=;;?P$>?9R?9=$D$<;N?GP<G?B:;<f$:E9<A?G<<3$?$;=K=C:;<<$BB?V

9<AH$ ==$B$ 8:LCEK9=;<=$D:A=@?G<T;?I$P:;=G?I$<8C?K=;<O3$ R:G:DA=GV

;?I$9CO$EAB=GK9=;<I$?$N:DA:R(

SSO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

SSP

1$+/0

)*6

-#4

%/)#&

+,

JAB=;;?VR?8OIJAB=;;Ef$<$?Ln=JAB=;;Ef$9=OA=CH;?JAH3$9=C?BEf$G=>EV

A:Q<f$9:;;?@?$@G:K9:;<;:�

+($7P=fAJO$C<$B$>G=9?JA:BC=;;MR$JA:AHOR$ JB=9=;<O3$ E;<K:fn<=

T=JAH$<$EP:COfn<=$9?JA?<;JAB?$@G:K9:;<;:3$>?9GMB:fn<=$=@?$G=>EV

A:Q<f$>?$JG:B;=;<f$J$A=P$EG?B;=P3$D?A?G?PE$,D:D$JC=9E=A$<8$<JD?B?V

@?$8:OBC=;<O/$JAG=P<AJO$J??AB=AJAB?B:AH$B$?Ln=JAB=$<JA=Q$,F7X/�

%($7P=fAJO$C<$B$A=DJA=$BMJD:8MB:;<O$B$N?GP=$EAB=GK9=;<O3$>G<><V

JMB:fn<=$<JAQE$;=8:D?;;M=$<C<$:P?G:CH;M=$9=IJAB<O3$BM8MB:fn<=

OB;?=$<C<$;=OB;?=$?JEK9=;<=$J?$JA?G?;M$?DGEK:fn<R�

&($ [?9=GK:AJO$ C<$ B$ <JJC=9E=PMR$ A=DJA:R$ BMJD:8MB:;<O$ B$ N?GP=

EAB=GK9=;<O$?$J?B=Gr=;<<$@G:K9:;<;?P$ ,F7X/$9=O;<I3$>G=9EJP?AV

G=;;MR$!#$SF3$>G=JAE>C=;<I�

6($�JAH$C<$B$A=DJA=$BMJD:8MB:;<O$?$N:DA:R3$;=$<P=Br<R$P=JA:$B$9=IV

JAB<A=CH;?JA<3$;?$N?GP<GEfn<R$?$@G:K9:;<;=$,F7X/$C?K;?=3$;=$J?V

?AB=AJABEfn==$9=IJAB<A=CH;?JA<$>G=9JA:BC=;<=�

1($7P=fAJO$C<$BMJD:8MB:;<O3$>?8?GOn<=$@G:K9:;<;:$,F7X/3$J?V

9=GK:n<=$<8PMrC=;<O$?$D?;DG=A;MR$N:DA:R3$>?99:fn<RJO$>G?B=GD=

<$D:J:fn<RJO$<P=;;?$@G:K9:;<;:$,F7X/�

• :(*(1)&3"3&g*)*(4'(01#"3&&*_4=,*>OT*UV*MW`G

-($#:D<=$A<>M$C=DJ<D<$J?BG=P=;;?@?$GEJJD?@?$O8MD:$?A;?JOAJO$D

?JD?GL<A=CH;?I$C=DJ<D=�

+($[?9=GK:AJO$C<$B$>G=9C?K=;<<$d(((e$ JC?B:3$ JC?B?J?T=A:;<O$<C<

NG:8M3$?A;?JOn<=JO$D$?9;?PE$<C<$;=JD?CHD<P$A<>:P$?JD?GL<A=CH;?I

C=DJ<D<�

%($U?JOA$C<$BMJD:8MB:;<O$ (((3$?A;?JOn<=JO$D$@G:K9:;<;E$ ,F7X/3

?JD?GL<A=CH;MI$R:G:DA=G�

&($7P==AJO$C<$B$BMJD:8MB:;<OR$((($?AG<Q:A=CH;:O$?Q=;D:$C<T;?JA<

@G:K9:;<;:$,F7X/3$>?9GMB:fn:O$=@?$>G=JA<K$B$@C:8:R$?DGEK:fn<R3

;:;?JOn:O$En=GL$EB:K=;<f$D$J:P?PE$J=L=�

6($�JC<$<P==AJO3$A?$BMG:K=;:$C<$A:D:O$?AG<Q:A=CH;:O$?Q=;D:$B$Q<V

;<T;?I3$;=>G<C<T;?I$N?GP=3$>G?A<B?G=T:n=I$>G:B<C:P$>?B=9=;<O3

>G<;OAMP$B$?Ln=JAB=�

1($79=A$C<$G=TH$B$BMJD:8MB:;<<3$J?9=GK:n=P$?AG<Q:A=CH;Ef$?Q=;DE

C<T;?JA<$B$;=>G<C<T;?I$N?GP=3$;=J?P;=;;?$<$<P=;;?$?$@G:K9:;<;=

,F7X/�

'($7P==AJO$C<$B$A=DJA=$BMG:K=;;:O$B$;=>G<C<T;?I$N?GP=$?AG<Q:V

A=CH;:O$?Q=;D:$C<T;?JA<$@G:K9:;<;:$,F7X/3$<P=fn:O$?L?Ln=;;MI

R:G:DA=G$<$E;<K:fn:O$=@?$T=JAH$<$9?JA?<;JAB?�

*($7P=fAJO$C<$B$A=DJA=$NG:8M3$;:>G:BC=;;M=$;:$E;<K=;<=$C<T;?@?

9?JA?<;JAB:$T=C?B=D:$ ,F7X/3$BMJD:8:;;M=$B$>?8?GOn=I$=@?3$;=>G<V

C<T;?I$N?GP=�

-($ [C?B:$ <$ BMG:K=;<O3$ ?L?8;:T:fn<=$ :;A<?Ln=JAB=;;Ef3$ J?Q<V

:CH;?$?JEK9:=PEf$9=OA=CH;?JAH3$>G<?LG=A:fn<=$<;B=DA<B;Ef$WDJ>V

G=JJ<f$>G<$E>?AG=LC=;<<$B$>=G=;?J;?P$8;:T=;<<\$?VHD>E71@3$[GF1@3

Y8>CD1DGD@/(

+($[C?B:$J$OGD?$BMG:K=;;?I$;=@:A<B;?I$?Q=;D?I3$N:DA<T=JD<$J?V

JA:BCOfn=I$<R$?J;?B;?I$JPMJC3$A:DK=$?L?8;:T:fn<=$J?Q<:CH;?$?JEKV

9:=PEf$9=OA=CH;?JAH$<C<$>?8<Q<f$,>J<R?C?@<T=JDEf$EJA:;?BDE3$?A;?V

r=;<=$D$D?PEVC<L?/$R:G:DA=G<8E=P?@?\$8/C1CD3$0?G8GI71@3$Y850/D5FJ(

%($U:8B:;<O$;=D?A?GMR$>G?N=JJ<I3$E>?AG=LCO=PM=$B$>=G=;?J;?P

8;:T=;<<\$Y/F/E3$2HC71@(

&($p??J=P:;A<T=JD<=$P=A:N?GM3$?AJMC:fn<=$D$;:8B:;<OP$K<B?AV

;MR$<$>?9T=GD<B:fn<=$D:D<=VC<L?$?AG<Q:A=CH;M=$JB?IJAB:$T=C?B=V

D:\$;=T<JA?>C?A;?JAH$<C<$;=LC:@?9:G;?JAH$ ,C?17JH/3$ @CE>?JAH$ ,>C5F/3

;=>?B?G?AC<B?JAH3$;=EDCfK=JAH$,@>8>?//$<$A(>(

6($4C:@?CM$J$?JEK9:fn<P$8;:T=;<=P$<C<$>GOP?I$;=@:A<B;?I$?Q=;V

D?I\$?>8>?/DJ3$P/Y7GDJ(

1($[C?B:3$ J?9=GK:n<=$WDJ>G=JJ<B;Ef$;=@:A<B;Ef$?Q=;DE$>?B=9=V

;<O$T=C?B=D:3$JB?IJAB$=@?$C<T;?JA<$<lA(l>(3$L=8$?A;?r=;<O$D$ED:8:;<f

;:$D?;DG=A;Ef$9=OA=CH;?JAH$<C<$>?8<Q<f\$75=>0HB3$258V/?5Q3$P/2(

'($ZBN=P<8PM$9CO$JC?B$>=GB?@?$G:8GO9:3$J?RG:;Ofn<=$A=P$;=$P=V

;==$ <R$ ;=@:A<B;?V?Q=;?T;MI$ R:G:DA=G\$ [57Z17/3 F5=@>=>3 Y>?50571H3

17D5805?>E@/(

*($[>=Q<:CH;M=$;=@:A<B;?V?Q=;?T;M=$D:C:PLEG;M=$?LG:8?B:;<O\

@>22G7H@13$058J2>@8/DA(

#G?P=$A?@?3$?JD?GL<A=CH;MP3$D:D$>G:B<C?3$OBCO=AJO$<J>?CH8?B:V

;<=$B$D:T=JAB=$R:G:DA=G<JA<D$C<Q:$3"K"3DL03EF$JC?B(

7J>?CH8?B:;<=$B$A=DJA=$JC?B$>=G=T<JC=;;MR$D:A=@?G<I$J:P?$>?$J=L=

9:C=D?$;=$BJ=@9:$OBCO=AJO$?JD?GLC=;<=P($cG=K9=$BJ=@?3$?L$?JD?GLC=V

;<<$P?K;?$@?B?G<AH$C<rH$B$A=R$JCET:OR3$D?@9:$=JAH$D?;DG=A;MI$:9G=V

J:Al]$C<Q?3$D?A?G?=$R:G:DA=G<8E=AJO$B$A=DJA=$>G<$>?P?n<$9:;;MR$JC?B^

JEn=JABEfA$<$9GE@<=$N:DA?GM3$>?9C=K:n<=$ET=AE(

M"h"` /FB>CF@JaFC\c6NZAN>B6EAZ>H\]6H>Z?>N>HYBNZF?EDC

• :(*(1)&3"3&g*)*'#")"="*_4=,*>I[*UV*MW`G

-($7P=fAJO$C<$B$A=DJA=$BMJD:8MB:;<O$B$N?GP=$EAB=GK9=;<O$?$D:V

D<RVC<L?$D?;DG=A;MR$N:DA:R$;:GEr=;<O$@G:K9:;<;?P$ ((($ 9=IJABEfV

n=@?$8:D?;?9:A=CHJAB:$<C<$P?G:CH;MR$>G<;Q<>?B$,?$J?B=Gr=;<<$E@?V

C?B;?$ <C<$ :9P<;<JAG:A<B;?$ ;:D:8E=P?@?$ 9=O;<O3$ >G:B?;:GEr=;<O3

>G=JAE>C=;<O3$ ;=>G:B<CH;?P$ >?B=9=;<<$ B$ AGE9?B?P$ D?CC=DA<B=3$ B

LMAE/3$ <;M=$ JB=9=;<O3$ DB:C<N<Q<GE=PM=$ D:D$ >?G?T:n<=$ >G?<8B?9V

SSQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

SSR

1$+/0

)*6

-#4

%/)#&

+,

OBCO=AJO$d7(X(e3$;?$WA?$A:D3$P=C?T</3$]$A?$BMR?9<A3$TA?$c;oB$LG?J<C

;:$L?GHLE$J$d0:ID:CHJD<P<$?@;OP<e$>G:DA<T=JD<$BJ=$JB?<$>G:B?B=9V

T=JD<=$J<CM($7R$LM$]$9:$;:$>G:B=9;M=$9=C:�

7$AEA$;=CH8O$;=$>?9=C<AHJO$J$T<A:A=COP<$9BEPO$J??LG:K=;<OP<(

b?V>=GBMR3$>?;OA;?$BJ=P3$TA?$;<$G:I?;E3$;<$]$A=P$L?C==�$]$G=9:DQ<<

WA:$AOKL:$;=$;EK;:($X;:$;EK;:$c;oBE3$B$=o$?J;?B=$]$C<T;M=$:PL<Q<<$<

?L<9M$@C:BM3$;=$JEP=Br=@?$J9=C:AH$@:8=AE$>?9D?;AG?CH;?I$,DA?$<P=C

JT:JAH=$T<A:AH$<89:B:=PMI$<P<$db=JA;<De3$C=@D?$P?K=A$>G=9JA:B<AH3

B?$TA?$LM$>G=BG:A<C$a<R:<C$_C=DJ:;9G?B<T$d0:ID:CHJD<=$?@;<e�/

u?@9:$>?T=PE$C<T;M=$>?8MBM$@C:BM$G:I?;:$E9?BC=AB?GOfAJO$JA?CH

9?G?@<P$9CO$BJ=R$;:C?@?>C:A=CHn<D?B$J>?J?L?P3$ AGE9?P$Q=C?I$D?V

P:;9M$PE;<Q<>:CH;MR$JCEK:n<R�

7$B?VBA?GMR($�JC<$?$@?J>?9<;=$U?B?C?AJD?P$EB=G=;;?$P?K;?$JD:V

8:AH3$TA?$WA?$EK=$8:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<D3$A?$SK=;=B:

<$0?K==B:$>?VT=C?B=T=JD<$K:CD?($c?CET<AH$B$ J:P?P$;:T:C=$fG<9<V

T=JD?I$D:GH=GM$d?J?L?$B:K;?=$8:9:;<=e$]$9Er<AH$>?>ECOG;Ef$E$;:V

G?9:$@:8=AE�$U=$;:>?P<;:=A$C<$WA?$G:JAC=;<=�

7$B?A$EK=$a:DJ<P$SK=;=B$>MA:=AJO$?LsOJ;<AH$JE9H=$b(#($!GP:Dr<V

;?BE3$TA?$J?BJ=P$;=$?LO8:A=CH;?3$TA?LM$<;A=G=JM$G=9:DQ<<$B$JE9=$DA?V

A?$>G=9JA:BCOC3$TA?$d;:r<$>G:B:$;:GEr:fAJOe3$:$d;:r<$<;A=G=JM$BMr=

<R$<;A=G=J?Be�$U:r<$]$WA?$TH<�$S:I?;:�$c;oB:�$`G<JA:$SK=;=B:�

_$JE9�$_GL<AG:K;MI$>G?Q=JJ$ An:A=C=;$<$;=A?G?>C<B($c?$BJ=I

B<9<P?JA<3$9?$BML?G?B$@C:BM$G:I?;:$;=$8:D?;T<AJO�$c?D:$K=$JE9HO

!GP:Dr<;?B$>?JA:;?B<C$>=G=;=JA<$>G=9B:G<A=CH;?=$JCEr:;<=$>?$9=CE

;:$-2$J=;AOLGO�

XJA:B:IA=JH$J$;:P<3$PM$B:P$?L?$BJoP$G:JJD:K=P(

[($0?G?B<D3$=9<;JAB=;;MI$>G=9JA:B<A=CH$G=9:DQ<<$B$JE9=(

M"L"` 8?ACF?^6[DXHGF@AF6>6H>[=aKJF@AAaV>G>H@>V>6JFGD

a<G?B?PE$JE9H=$-$JE9=L;?@?$ET:JAD:

a<R:IC?B?I$4(4(

?A*U?B?C?AJD?@?$[=G@=O$U<D?C:=B<T:3

>G?K<B:fn=@?\$J($#:L:;JD3

EC($[?BR?8;:O3$-+(

p:OBC=;<=

?$B?8LEK9=;<<$E@?C?B;?@?$9=C:$T:JA;?@?$?LB<;=;<O

b$@:8=A=$0:ID:CHJD<=$?@;<$qq$1)V'2$?A$%-$:B@EJA:$+22'$@?9:$?>ELC<V

D?B:;:$JA:AHO$>?9$;:8B:;<=P$duOKL:e3$:BA?G?P$D?A?G?I$OBCO=AJO$0?V

M"I"`8?ACF?^6NZ>?@DX6Za=GABDfAXe

dx8!-

!/E/F>CJ3=5758/FJ7>537/CDGYF57153=F/?A38/B>7/37/38/B>77GW3=/V5DG"

7A:D3$B?I;:$a(_($c;oB:$J$d0:ID:CHJD<P<$?@;OP<e$BJAE><C:$B$G=V

r:fnEf$N:8E(

0MC?\$<8@;:;<=$@C:B;?@?$G=9:DA?G:$J$>C:;oG?D$B$G:I:9P<;<JAG:V

Q<<$<$8:>G=A$PE;<Q<>:CH;MP$T<;?B;<D:P$D?;A:DA<G?B:AH$J$;:r<P<

KEG;:C<JA:P<($b?Ln=P3$?LMT;:O$<;N?GP:Q<?;;:O$LC?D:9:(

0MC?\$?ADG?B=;;?$;=8:D?;;:O$LC?D<G?BD:$N<;:;J<G?B:;<O$G=9:DV

Q<<$>G=9EJP?AG=;;MP<$B$Lf9K=A=$G:I?;:$ JG=9JAB:P<($[$-$?DAOLGO

PM$G:L?A:=P$;:$>?C;?I$J:P??DE>:=P?JA<$]$<$BMK<C<3$T=P$;=P:C?$E9<V

B<C<$;:r=@?$B?=B?9E(

0MC?\$ P;?K=JAB?$ P=CD<R$ >:D?JA=I3$ ;:>G<P=G3$ ?JD?GL<A=CH;M=

><JHP:$B?$BJ=B?8P?K;M=$<;JA:;Q<<^$>?>MAD<$8:LC?D<G?B:AH$L:;D?BV

JD<I$JToA^$:$A?$<$B<8<AM$B$G=9:DQ<f$G:8;?I$;:<B;?I$>ELC<D<3$;:BG?9=

GED?B?9<A=CO$Q=;AG:$8:;OA?JA<$_([($4EGECoB:\$da<R:<C$_C=DJ:;9G?V

B<T$?L=n:C$;:J$89=JH$>?J=C<AHe�

bJo$WA?$LMC?3$<$<8L<G:A=C<$9?CK;M$8;:AH$<$?L$WA?P$:J>=DA=$LEGV

;?I$9=OA=CH;?JA<$a(_($c;oB:(

u=>=GH3$?T=B<9;?3$]$d>?JC=9;<I$<$G=r<A=CH;MI$L?Ie($b$_GL<AG:KV

;MI$JE9$S=J>ELC<D<$0EGOA<O$;:>G:BC=;$<JD$dXL$<JAG=L?B:;<<$<PEV

n=JAB:$<8$TEK?@?$;=8:D?;;?@?$BC:9=;<Oe($XA$G=9:DQ<<$AG=LEfA$BJ=V

@?V;:BJ=@?$?JB?L?9<AH$dJ:P?B?CH;?$8:;OA?=$>?P=n=;<=e$V$A?$=JAH$;:J

R?AOA$BMLG?J<AH$;:$EC<QE$<8$D:L<;=A?B3$B$D?A?GM=$PM$8:J=C<C<JH$>?

G=r=;<f$G:I?;;MR$BC:JA=I$B$9:CoD?P$-)*)$@?9E�

7$PM$G=r<C<\$;:r<$T<A:A=C<$<P=fA$>G:B?$LMAH$B$DEGJ=$>G?<JR?V

9On=@?3$9EP:AH3$9=C:AH$BMB?9M(

aM$JB?I$>=GBMI$dJE9=L;MIe$BMB?9$EK=$J9=C:C<\$c;oB$;=$K:C==A

J<C$<$JG=9JAB$;:$L?GHLE$J$@:8=A?I($�JC<$B$>:G:CC=CH;?$G:JJP:AG<B:=V

P?P$G:I?;;MP$JE9?P$@G:K9:;JD?P$9=C=$J$ET:JA<=P$G=9:DA?G:$<$@C:BM

<;A=G=JM$ >?JC=9;=@?$ >G=9JA:BCO=A$ 9?G?@En<I$ @?G?9JD?I$ :9B?D:A

7BC=B:3$A?$B$:GL<AG:K;MI$JE9$;:$8:J=9:;<=$++$:B@EJA:$OB<C<JH$AE9:

9B:$P?C?9MR$>?9T<;o;;MR$c;oBE$fG<JA:\$a([($SK=;=B$<$S([($0?K==B(

_$=JC<$ET=JAH3$TA?$>G=9B:G<A=CH;?=$JCEr:;<=$'$:B@EJA:$>?J=A<C$J:P

[(U($U?B?C?AJD<I3$D?A?GMI$>G=9JA:BCO=AJO$;=$<;:T=3$D:D$;:T:CH;<V

D?P$fG<9<T=JD?@?$?A9=C:$:9P<;<JAG:Q<<$G:I?;:$,R?AO$;:$J:P?P$9=C=

)$[A:AHO$duOKL:e$LMC:$?>ELC<D?B:;:$B$@:8=A=$d0:ID:CHJD<=$?@;<e$%-$:B@EJA:$+22'$@?9:

,q$1)V'2/(

ShT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

ShS

1$+/0

)*6

-#4

%/)#&

+,

EC($¤¤¤¤¤¤¤¤¤3$9(¤¤¤¤3$>:J>?GA$J=G<<$RRRR$q$RRRRRR3$BM9:;$#:L:;JD<P

SXb"$RR(RR(RRRR$ @(3$ 8:$ J?B=Gr=;<=$>G=JAE>C=;<O3$>G=9EJP?AG=;;?@?

T($+$JA($-%2$!#$SF(

%2(-2(+22'$@( $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$[(U($U?B?C?AJD<I

cG<C?K=;<=\

-( #?><O$JAG:;<QM$q$+$@:8=AM$d0:ID:CHJD<=$?@;<e$q$1)V'2$?A$%-

:B@EJA:$+22'$@?9:(

+( #?><O$JAG($*'6$A?CD?B?@?$JC?B:GO$GEJJD?@?$O8MD:$>?9$G=9:DQ<V

=I$[(7($XK=@?B:3$U(`($�B=9?B:(

M"M"` 8?ACF?^6>Z?FJFGF@AF6NaJD6>6@D[@DWF@AAYBNZF?EA[\

cX[u_UXbY�U7�

X$;:8;:T=;<<$WDJ>=GA<8M3$>G<?JA:;?BC=;<<$>G?<8B?9JAB:$>?$9=CE

--$9=D:LGO$$$+22'$@?9:$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$J($#:L:;JD

a<G?B?I$JE9HO$JE9=L;?@?$ET:JAD:$q$-$#:L:;JD?@?$G:I?;:$S=J>ELV

C<D<$0EGOA<<$a<R:IC?B:$4(4(3* >G<$J=DG=A:G=$#?G?B<;?I$u(b(3$G:JV

JP?AG=B$B$?ADGMA?P$JE9=L;?P$8:J=9:;<<$E@?C?B;?=$9=C?$T:JA;?@?$?LV

B<;=;<O$B$?A;?r=;<<$0?G?B<D:$[=G@=O$b:J<CH=B<T:3$?LB<;O=P?@?$>?

JA($-%2$T($+$!#$SF3

!JA:;?B<C\

4GV;$U?B?C?AJD<I$[(U($?LG:A<CJO$B$JE9$J$8:OBC=;<=P$?$B?8LEK9=V

;<<$E@?C?B;?@?$9=C:$T:JA;?@?$?LB<;=;<O$B$?A;?r=;<<$$$0?G?B<D:$[(b(

B$JBO8<$J$A=P3$TA?$B$@:8=A=$d0:ID:CHJD<=$?@;<e$q$q$1)V'2$?A$%-$:B@EJA:

+22'$@?9:$B$JA:AH=$duOKL:e3$:BA?G?P$D?A?G?I$OBCO=AJO$0?G?B<D$[(b(3

;:8B:C$ =@?$ d8:D?;T=;;MP$ >G?N=JJ<?;:CH;MP$ Q<;<D?P$ <$ 89=JH3$ D:D

@?B?G<AHJO3$;=$>G<L:B<AH$;=$EL:B<AHe(

b$JE9=L;?P$8:J=9:;<<$T:JA;MI$?LB<;<A=CH3$>?A=G>=Br<I$U?B?C?AV

JD<I$[(U(3$JB?<$9?B?9M$>?BA?G<C3$;:$?LB<;=;<<$;:JA:<B:C3$JE9E$>?OJV

;<C3$TA?$@C:B;MI$G=9:DA?G$0?G?B<D$[(b($B$@:8=A=$d0:ID:CHJD<=$?@;<e

qq$1)V'2$?A$%-$:B@EJA:$+22'$@?9:$B$JB?=I$JA:AH=$duOKL:e$;:8B:C$=@?

d8:D?;T=;;MP$>G?N=JJ<?;:CH;MP$Q<;<D?P$<$ 89=JH3$D:D$@?B?G<AHJO3

;=$>G<L:B<AH3$;=$EL:B<AHe($ZA?$?JD?GLCO=A$=@?$T=JAH$<$9?JA?<;JAB?3

>?9GMB:=A$=@?$9=C?BEf$G=>EA:Q<f($X;$8:P=A<C3$TA?$>?JC=$BMR?9:$WA?I

JA:AH<$D$;=PE$JA:C<$?A;?J<AHJO$>?V9GE@?PE3$Cf9<$D:D$LM$?Q=;<B:fA

=@?$>?V9GE@?PE($�<;<8P3$J?@C:J;?$?>G=9=C=;<f$JC?B:GO$XK=@?B:$?8V

;:T:=A$>G=;=LG=K=;<=$D$;?GP:P$?Ln=JAB=;;?I$P?G:C<3$;G:BJAB=;;?JV

G?B<D$[=G@=I$b:J<CH=B<T($b$9:;;?I$JA:AH=$rC:$G=TH$?$JE9=L;MR$>G?V

Q=JJ:R$P=K9E$:9P<;<JAG:Q<=I$G:I?;:$<$_UX$dS=9:DQ<O$@:8=AM$d0:IV

D:CHJD<=$?@;<e3$B$D?A?GMR$O$>G<;<P:C$ET:JA<=$<$>G=9JA:BCOC$<;A=G=V

JM$ :9P<;<JAG:Q<<($ b$ ED:8:;;?I$ JA:AH=$ 0?G?B<D$ [b($ ><r=A\$ >?( 0#:

0*#"2/@(A.6+3#(%#.!#'+&-(B#0#6#*.)#8(40-"-&&#(8#C&#(.)$D$*91(,*#

E*#(4C-(D$)#&,-&&2;(!"#F-..+#&$69&2;(=+&+)(+(D'-.91()$)(%#0#"+*.71

&-(!"+G$0+*9(&-(4G$0+*9@@@@H

":;;?=$ EAB=GK9=;<=$ 0?G?B<D:$ [(b($ 9:oA$ ?AG<Q:A=CH;Ef$ ?Q=;DE

P?=I$C<T;?JA<$<*OBCO=AJO$?JD?GLC=;<=P3$E;<K:=A$P?f$T=JAH$<$9?JA?V

<;JAB?3$>?9GMB:=A$9=C?BEf$G=>EA:Q<f(

b$A?CD?B?P$JC?B:G=$GEJJD?@?$O8MD:$>?9$G=9:DQ<=I$[7($XK=@?B:3

U(`($�B=9?B:$9:;?$JC=9Efn==$?>G=9=C=;<=$>?;OA<f$ey&3&DJf.*?;?

?8;:T:=A$C0"3"10"h"3&"*'*3(0J2J*(1H"4=)"33(5*J(02#&.*302)4=)"33(N

4=&.* 32@#(4=$.* 1"44=E;4=)(,* c?;OA<=$d�<;<De$?8;:T:=A$]$Q<;<T;MI

T=C?B=D3$,JAG($*'6$ED:8:;;?@?$<89:;<O/($78$9:;;?I$JA:AH<$P?K;?$J9=V

C:AH$BMB?9$?$A?P3$TA?$O*>G=;=LG=@:f$;?GP:P<$?Ln=JAB=;;?I$P?G:C<3

>G=;=LG=@:f$EJA?OP<$?Ln=JAB:3$TA?$O$;:@CMI$<$L=JJAM9;MI$T=C?B=D(

U:$D:D?P$?J;?B:;<<3$<$>?$D:D?PE$>G:BE$0?G?B<D$[(b($T=G=8$ @:8=AE

9:oA$A:DEf$R:G:DA=G<JA<DE$P?=I$C<T;?JA<�

4:8=A:$d0:ID:CHJD<=$?@;<e$BMR?9<A$A<G:K?P$L?C==$'222$WD8=P>COV

G?B3$G:J>G?JAG:;o;;:O$0?G?B<D?P$[(b($?AG<Q:A=CH;:O$?Q=;D:$P?=I

C<T;?JA<3$BMJD:8:;;:O$B$?JD?GL<A=CH;?I$N?GP=3$JA:C:$<8B=JA;:$r<V

G?D?PE$DGE@E$T<A:A=C=I3$Cf9=I3$D?A?GM=$;=$8;:D?PM$J?$P;?I$C<T;?$<

E$D?A?GMR$>?9$BC<O;<=P$9:;;?I$JA:AH<$P?@C?$ JN?GP<G?B:AHJO$?L?

P;=$;=@:A<B;?=$P;=;<=(

0?C==$A?@?3$?AG<Q:A=CH;:O$R:G:DA=G<JA<D:$P?=I$C<T;?JA<$;=@:A<BV

;?$JD:8MB:=AJO$;:$P?=I$JCEK=L;?I$9=OA=CH;?JA<$PE;<Q<>:CH;?@?$JCEV

K:n=@?3$>?9GMB:=A$P?f$9=C?BEf$G=>EA:Q<f$B$@C:8:R$;:J=C=;<O3$J?V

89:=A$;=@:A<B;?=$P;=;<=$?L?$P;=$E$K<A=C=I$G:I?;:3$D?CC=@$>?$G:L?A=3

>?9T<;=;;MR(

U:$?J;?B:;<<$<8C?K=;;?@?$JT<A:f3$TA?$B$9=IJAB<OR$0?G?B<D:$[=GV

@=O$b:J<CH=B<T:$J?9=GK:AJO$>G<8;:D<$J?JA:B:$>G=JAE>C=;<O3$>G=9EJV

P?AG=;;?@?$T($+$ JA($ -%2$!#$SF$]$?JD?GLC=;<=3$ J?9=GK:n==JO$B$>ELV

C<T;?P$BMJAE>C=;<<3$>ELC<T;?$9=P?;JAG<GEfn=PJO$>G?<8B=9=;<<$<C<

JG=9JAB:R$P:JJ?B?I$<;N?GP:Q<<(

SED?B?9JABEOJH$JA($JA($%-*3$%-)3$%+-3$%++$!c#$SF3

cSX�!\

-( cG<;OAH$$;:JA?On==$8:OBC=;<=$?$B?8LEK9=;<<$E@?C?B;?@?$9=C:

T:JA;?@?$?LB<;=;<O$D$>G?<8B?9JABE^

+( cG<BC=TH$D$E@?C?B;?I$?AB=AJAB=;;?JA<$0?G?B<D:$[=G@=O$b:J<V

CH=B<T:$RR(RR(RRRR$@?9:$G?K9=;<O3$EG?K=;Q:$J($#:L:;JD3$#:L:;JD?@?

G:I?;:3$ >G?K<B:fn=@?$ >?$ :9G=JE\$ #:L:;JD<I$ G:I?;3$ J($ #:L:;JD3

Shh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

ShI

1$+/0

)*6

-#4

%/)#&

+,

cG=9E>G=9<AH$WDJ>=GA?B$?L$E@?C?B;?I$?AB=AJAB=;;?JA<$>?$JA($%2'

!#$SF($X>C:AE$>G?<8B=JA<$8:$JToA$N=9=G:CH;?@?$Lf9K=A:$J$>?JC=9EV

fn<P$B?8P=n=;<=P$8:$JToA$B<;?B;?@?$C<Q:(

cG?<8B?9JAB?$>?$E@?C?B;?PE$9=CE$B$?A;?r=;<<$0?G?B<D:$[=G@=O

b:J<CH=B<T:$$$>?$JA($-%2$T($+$!#$SF$>G<?JA:;?B<AH$9?$?D?;T:;<O$WDJV

>=GA<8M(

a<G?B?PE$JE9H=$g$ET:JAD:

a<R:IC?B?I$4(4(

?A$0?G?B<D:$[(b(3

?LB<;O=P?@?$>?$JA($-%2$T($+$!#$SF

~(;2=254=)(

>?$>?B?9E$;:8;:T=;<O$WDJ>=GA<8M

g

[T<A:f3$TA?$;:8;:T=;<=$N<C?C?@<T=JD?I$,C<;@B<JA<T=JD?I/$WDJ>=GV

A<8M$ >?$ ;:JA?On=PE$ 9=CE$ ;=$ BM8B:;?$ ;=?LR?9<P?JAHf3$ A:D$ D:D$ JE9

G:J>?C:@:=A$9?JA:A?T;MP$<JR?9;MP$P:A=G<:C?P$9CO$?Q=;D<$A?@?3$OBV

CO=AJO$C<$BMG:K=;<=$d8:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<De$?JD?GV

L<A=CH;MP$<$;=>G<C<T;MP$BMG:K=;<=P(

b$d[C?B:G=$GEJJD?@?$O8MD:e$[(7($XK=@?B:3$;:$D?A?GMI$JJMC:=AJO$T:JV

A;MI$?LB<;<A=CH$U?B?C?AJD<I$,a?JDB:3$<89($dSEJJD<I$O8MDe3$-)'*$@(/3$$;:

JAG:;<Q=$-+3$ «$-1$>=G=T<JCOfAJO$d>?P=AM3$ED:8MB:fn<=$;:$JA<C<JA<V

T=JDEf$R:G:DA=G<JA<DE$JC?B:e($"CO$?AG<Q:A=CH;MR$R:G:DA=G<JA<D$$WA?\

,>G=8G(/$]$>G=8G<A=CH;?=3$,;=?9?LG(/$]$;=?9?LG<A=CH;?=3$$,>G=;=LG(/$]$>G=V

;=LG=K<A=CH;?=3$,LG:;(/$]$LG:;;?=3$TA?3$D:D$ED:8:;?$89=JH$K=3$d?8;:V

T:=A3$TA?$B$JC?B=$J?9=GK<AJO$J??AB=AJABEfn:O$WP?Q<?;:CH;:O3$BMG:V

8<A=CH;:O$?Q=;D:$?L?8;:T:=P?@?$OBC=;<Oe(

i&*4#()(*eK&3&'f.*3&*4#()(*eK&3&%3E5f*_4=0,*STP`*=2'&J&*L'2D23&N

AJ&*3"*4(C0()(h;"3E,

"CO$JG:B;=;<O\$JC?B?$dJB?C?THe$,JAG($1&)/$<P==A$>?P=AE\$dLG:;;?=e(

du?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:e$>?9$G=9:DQ<=I$0(a($b?C<;:$<$"(U(

!r:D?B:$,a?JDB:3$-)&2$@(/$A:D$K=$J?>G?B?K9:=A$JC?B:$>?P=A:P<$,JAG($)V

--/\$d;=>G<C<T;?e3$d>G=;=LG=K<A=CH;?e3$dE;<TA?K<A=CH;?e3$dLG:;;?=e3

(;32'(*4#()2*eK&3&DJf*&*eK&3&'f*_4=0,*>IIO`*3"*4(C0()(h;2g=4A*C(;(13EN

J&*F202'="0&4=&'2J&*&*=2'*h"*;2g=4A*'2'*)C(#3"*3"5=02#$3E",

"CO$JG:B;=;<O\$?9;?$<8$8;:T=;<I$JC?B:$dJB<;HOe$]$d@GO8;MI3$;=?V

>GOA;MI$T=C?B=D3$;=GOR:e$]$R:G:DA=G<8E=AJO$B$WA?P$JC?B:G=$>?P=A?I

d>G=8G<A=CH;?e$,JAG($)+/(

[$EToA?P$JD:8:;;?@?$E$ JE9:$ $<P==AJO$9?JA:A?T;?$?J;?B:;<I$J9=V

C:AH$BMB?9$?$A?P3$TA?$BMG:K=;<=$d8:D?;T=;;MI$>G?N=JJ<?;:CH;MI

Q<;<De$;=$OBCO=AJO$;=>G<C<T;MP3$>G=;=LG=K<A=CH;MP3$LG:;;MP($_

8;:T<A3$8:B=9?P?$;=$P?K=A$LMAH$?JD?GL<A=CH;MP(

A<3$;:@C?JAH3$L=JJAM9JAB?($4:8=A:$d0:ID:CHJD<=*?@;<e$BMR?9<A$A<G:V

K?P$L?C==$'222$WD8=P>COG?B3$?AG<Q:A=CH;:O$?Q=;D:$=@?$C<T;?JA<3$9:;V

;:O$0?G?B<D?P$[(b(3$BMJD:8:;;:O$B$?JD?GL<A=CH;?I$N?GP=3$JA:C:$<8V

B=JA;:$r<G?D?PE$DGE@E$Cf9=I3$E$D?A?GMR$>?9$BC<O;<=P$9:;;?I$JA:V

AH<3$P?@C?$JN?GP<G?B:AHJO*?$;oP$;=@:A<B;?=$P;=;<=

c?9JE9<PMI$0?G?B<D$[(b($B<;E$B$J?B=Gr=;<<$>G=JAE>C=;<O3$>G=V

9EJP?AG=;;?@?$JA($-%2*T($+$!#$SF3$;=$>G<8;:C3$JE9E$>?OJ;<C3$TA?$?;

9=IJAB<A=CH;?*;:><J:C$WAE$JA:AHf3$JA:AHO$LMC:$?>ELC<D?B:;:$B$@:8=A=

d0:ID:CHJD<=$?@;<e3$A<G:K$WA?I$@:8=AM$'222$WD8(3$;?$;=$JT<A:=A3$TA?$?;

?JD?GL<C$U?B?C?AJD?@?$[(U(3$?><JMB:O$R?9$$G:JJP?AG=;<O$J>?G:$?$BMV

J=C=;<<$G=9:DQ<<*@:8=AM$d0:ID:CHJD<=$?@;<e$$B$_GL<AG:K;?P$JE9=$S=JV

>ELC<D<$0EGOA<<($X;$?JB=n:C$R?9$>G?Q=JJ:($c?8<Q<O$U?B?C?9JD?@?

BMG:K:C:$?ADGMA?=$>G=;=LG=K=;<=$D$;?GP:P$?Ln=JAB=;;?I$P?G:C<(

ZA?$LMC?$JBO8:;?$J$A=P3$TA?$?ADG?B=;;?$@?B?G<C?JH$?$A?P3$TA?$E$G=9:DV

Q<<$;=A$>G:B:$;:$8:;OA<=$WA?@?$>?P=n=;<O($S=9:DQ<O$@:8=AM$d0:ID:CHV

JD<=$?@;<e$B$JB?o$BG=PO$?A9:C:$B$PE;<Q<>:CH;Ef$J?LJAB=;;?JAH$JB?o

J?LJAB=;;?=$89:;<=3$?LP=;OB$=@?$;:$8:;<P:=P?=$>?P=n=;<=($b$WA?P$>?V

P=n=;<<$>G?<8B=C<$9?G?@?JA?On<I$G=P?;A3$;?$;=$LMC?$9?DEP=;A?B$?

J?B=Gr=;<<$?LP=;:($u=P$;=$P=;==3$JE9$G=9:DQ<O$BM<@G:C:($[C?B:$dQ<V

;<De3$dQ<;<T;MIe$;=$J?>G?B?K9=;M$J>=Q<:CH;?I$>?P=AD?I$>G=8G<A=CHV

;?=$JC?B?3$LG:;;?=3$;=?9?LG<A=CH;?=($[C?B:$d8:D?;T=;;MI$>G?N=JJ<?V

;:CH;MI$Q<;<De$;=$OBCOfAJO$;=>G<C<T;MP<3$?JD?GL<A=CH;MP<(

p:JCEr:B$ ET:JA;<D?B$ >G?Q=JJ:3$ <JJC=9?B:B$ P:A=G<:CM$ 9=C:3$ JE9

JT<A:=A*;=?LR?9<PMP$>?$9:;;?PE$9=CE$;:8;:T<AH$>J<R?C?@?VC<;@B<V

JA<T=JDEf$WDJ>=GA<8E(

SED?B?9JABEOJH$JA($-)63$-))3$+6%$3$+*%$$!c#$SF$[E9

c?JA:;?B<C\

c?$ E@?C?B;?PE$ 9=CE$ T:JA;?@?$ ?LB<;=;<O$ B$ ?A;?r=;<<$ 0?G?B<D

[=G@=O$b:J<CH=B<T:$>?JA($-%2$T($+$!#$SF$$$;:8;:T<AH$>J<R?C?@?VC<;@V

B<JA<T=JDEf$WDJ>=GA<8E3$;:$G:8G=r=;<=$D?A?G?I$>?JA:B<AH$B?>G?JM\

-($U?JOA$C<$JC?B:$dp:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<De$B$J?V

T=A:;<<$J$A=DJA?P$JA:AH<$R:G:DA=G3$E;<K:fn<I$T=JAH$<$9?JA?<;JAB?

@G:K9:;<;:�

+($7P=fA$C<$?JD?GL<A=CH;MI$JPMJC3$<JR?9O$<8$;?GP$P?G:C<$<$JC?V

K<Br<RJO$B$?Ln=JAB=$>G=9JA:BC=;<I3$JC?B:$dp:D?;T=;;MI$>G?N=JJ<V

?;:CH;MI*Q<;<De�

%($bMG:K=;?$C<$9:;;?=$JC?B?J?T=A:;<=$,d8:D?;T=;;MI$>G?N=JJ<?V

;:CH;MI$Q<;<De/$B$J?T=A:;<<$J$A=DJA?P$JA:AH<$B$;=>G<C<T;?I$N?GP=�

&($a?@$C<$9?>EJA<AH$KEG;:C<JA3$TA?$?>ELC<D?B:;;?=$B$JA:AH=$$$BMV

G:K=;<=$ dp:D?;T=;;MI$ >G?N=JJ<?;:CH;MI$ Q<;<De$ B$ :9G=J$ 9GE@?@?

T=C?B=D:$P?K=A$LMAH$B?J>G<;OA?$D:D$?JD?GLC=;<=�

cG?<8B?9JAB?$WDJ>=GA<8M$>?GET<AH$4!$pY[Z$<$0EGOAJD?PE$4?JEV

9:GJAB=;;?PE$E;<B=GJ<A=AE$ ,D:N=9G=$GEJJD?@?$O8MD:$ $ $N<C?C?@<T=JV

D?@?$N:DECHA=A:/3$P:A=G<:CM$9=C:$;:>G:B<AH$B$4!$pY[Z(

ShL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

ShM

1$+/0

)*6

-#4

%/)#&

+,

M"P"68?ACF?^6GA@VHANEAWFNB>F6ANNGFJ>HD@AF

X*-*V*?*+*<*j*i*9*j

V]69RR99

R:jy9-?9Rd]7N?9i/79Rd]7

Y*TOlTINTS

@($a?JDB:$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$d+6e$N=BG:CO$+22*$@(

6"4=(*C0(&D)(;4=)2*&44#";()23&A\$>?P=n=;<=$XLn=JAB=;;?@?$?Ls=V

9<;=;<O$d4<CH9<O$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;V

N?GP:Q<?;;MP$J>?G:P$,4YZ"7[/e\$a?JDB:3$pEL?BJD<I$LECHB:G3$9($&3

D($&%*(

R)";"3&A* (1* B'4C"0=3(J* L%0"h;"3&&\$XLn=JAB=;;?=$?Ls=9<;=;<=

d4<CH9<O$C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<V

?;;MP$J>?G:P$,4YZ"7[/e($[B<9=A=CHJAB?$?$G=@<JAG:Q<<$?Ln=JAB=;V

;?@?$ ?Ls=9<;=;<O$ q$ -&-+'$ ?A$ -6$ N=BG:CO$ +22-$ @(3$ BM9:;?$ 4C:B;MP

E>G:BC=;<=P$ a<;<JA=GJAB:$ fJA<Q<<$ S?JJ<IJD?I$ F=9=G:Q<<$ >?

@($a?JDB=(

XJ;?B:;<=$>G?<8B?9JAB:$C<;@B<JA<T=JD?@?$<JJC=9?B:;<O\

p:>G?J$[(b($0?G?B<D:$B$cG:BC=;<=$4<CH9<<$C<;@B<JA?BVWDJ>=GA?B

>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?G:P$,4YZ"7[/$?A$2'

O;B:GO$+22*$@($,<JR($q$6&&/$?$>G?B=9=;<<$C<;@B<JA<T=JD?@?$<JJC=9?B:V

;<O$>G=9JA:BC=;;MR$P:A=G<:C?B(

V(J&44&A*4C"K&2#&4=()*/&#$;&&*#&3@)&4=()NB'4C"0=()*C(*;('LJ"3N

=2K&(33EJ*&*&3b(0J2K&(33EJ*4C(02J*)*4(4=2)"\

cG=9J=9:A=CO$ >G:BC=;<O$ $ 4YZ"7[$ ]$ :D:9=P<D:$ S_�U3$ 9?DA?G:

N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G:$ /(0123")4'(@(*6&F2&#2*7&'=(0(N

)&%2$,J>=Q<:CH;?JAH\$d-2(2+(2-$]$SEJJD<I$O8MDe3$JA:K$G:L?AM$>?$J>=V

Q<:CH;?JA<$%%$@?9:3$WDJ>=GA;:O$J>=Q<:C<8:Q<O$]$JE9=L;:O$C<;@B<JA<V

T=JD:O$WDJ>=GA<8:/3

9=IJAB<A=CH;?@?$TC=;:$4YZ"7[$]$9?DA?G:$N<C?C?@<T=JD<R$;:ED3

9?DA?G:$fG<9<T=JD<R$;:ED3$:D:9=P<D:$S_�U3$>G?N=JJ?G:$D:N=9GM$JEV

9=L;MR$WDJ>=GA<8$a?JD?BJD?I$@?JE9:GJAB=;;?I$fG<9<T=JD?I$:D:9=P<<

/2#Aa&3(5*j#"3E*9@(0")3E$,J>=Q<:CH;?JAH\$d-2(2+(+-$]$cG<DC:9;:O$<

P:A=P:A<T=JD:O$C<;@B<JA<D:e^$JA:K$G:L?AM$>?$J>=Q<:CH;?JA<$+*$C=A3

WDJ>=GA;:O$J>=Q<:C<8:Q<O$]$JE9=L;:O$C<;@B<JA<T=JD:O$WDJ>=GA<8:/3

9=IJAB<A=CH;?@?$TC=;:$4YZ"7[$]$9?DA?G:$N<C?C?@<T=JD<R$;:ED3

TC=;:VD?GG=J>?;9=;A:$ S_�U3$ >G?N=JJ?G:$ D:N=9GM$ P=A?9<D<3$ >=9:V

@?@<D<$<$>J<R?C?@<<$4?JE9:GJAB=;;?@?$<;JA<AEA:$GEJJD?@?$O8MD:$<P

_([($cErD<;:$$62J(3=()2*-#"'423;02*R="C23()&%2$,J>=Q<:CH;?JAH\

d-2(2+(2-$]$SEJJD<I$O8MDe3$JA:K$G:L?AM$>?$J>=Q<:CH;?JA<$%%$@?9:3$WDV

J>=GA;:O$J>=Q<:C<8:Q<O$]$JE9=L;:O$C<;@B<JA<T=JD:O$WDJ>=GA<8:/3

gg

�JC<$BJoVA:D<$JE9$J?TAoA$;=?LR?9<PMP$;:8;:T<AH$9:;;Ef$WDJ>=GV

A<8E3$A?$>G?rE$>?JA:B<AH$>=G=9$WDJ>=GA:P<$JC=9Efn<=$B?>G?JM\

-($tA?$?8;:T:=A$BMG:K=;<=$d>G?N=JJ<?;:CH;MI$Q<;<8Pe�

+( �BCO=AJO$C<$JC?B?J?T=A:;<=$d8:D?;T=;;MI$>G?N=JJ<?;:CH;MI

Q<;<De$;=>G<C<T;MP�

$$$$ggg

cG?rE$JE9$9:;;?=$R?9:A:IJAB?$>G<?Ln<AH$D$P:A=G<:C:P$E@?C?BV

;?@?$9=C:(

c?9JE9<PMI$[(b($0?G?B<D(

M"O"` 8?ACF?^6[DZ?>N6?FJDBfAA61-)>6Z?>HFJF@AA6GA@VHANEAWFNB>V>ANNGFJ>HD@AX

1'-+22$S=J>ELC<D:$0EGOA<O 7UU$2%2)22+*6%�$#cc$2%2)2-22-

$J($#:L:;JD3$EC($XDAOLGHJD:O3$-& S�J$ &212%*-212)2'2-222+&

u=C($&%V2V)%3$&2V*V-%3$$&%V+V1%3$&-V*V2% #�J$ %2-2-*-2)2222222212'

F:DJ$ ,%2-%*/$&-V'V)- 0:ID:CHJD<I$L:;D$[0$SF

¡V���~\$ ��¬}����zx�}�(xz #:L:;JD?=$?A9=C=;<=$q$+&%-

$@($7GDEAJD

07#$2&+6+212'

7JR($q$$6&&$$$$$$$$$$$$$$$$$$*************************************************d$'$e$O;B:GO$+22*$@(

SED?B?9<A=Cf$4<CH9<<

WDJ>=GA?BVC<;@B<JA?B

d4YZ"7[e

4V;E$4?GL:;=BJD?PE$a(b(

!B:K:=PMI$a<R:<C$b<DA?G?B<T�

b$;:JA?On==$BG=PO$O$;=?L?J;?B:;;?3$D:D$P;=$D:K=AJO3$>G<BC=To;$D

E@?C?B;?I$?AB=AJAB=;;?JA<$>?$JA($ -%2$T($ +$!#$SF$]$ 8:$?JD?GLC=;<=

9?CK;?JA;?@?$C<Q:$G:I?;;?I$:9P<;<JAG:Q<<(

c?$9=CE$;:8;:T=;:$>J<R?C?@?VC<;@B<JA<T=JD:O$WDJ>=GA<8:(

!L=9<A=CH;?$>G?rE$b:J3$@V;$>G?N=JJ?G3$?8;:D?P<AHJO$J$>G<C:@:=V

PMP<$P:A=G<:C:P<$<$G=r<AH$B?>G?J$?$B?8P?K;?JA<$$C<;@B<JA<T=JD?V

@?$ :;:C<8:$ WDJ>=GA:P<$ b:r=I$ 4<CH9<<$ 9:;;?@?$ A=DJA:3$ J?9=GK:;<=

D?A?G?@?$T:JA;MI$?LB<;<A=CH$JT<A:=A$?JD?GL<A=CH;MP$9CO$J=LO(

4C:B;MI$G=9:DA?G$0?G?B<D$[(b(

ShO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

ShP

1$+/0

)*6

-#4

%/)#&

+,

6( 4:COr<;:$�(3$4?GL:;=BJD<I$a(3$[A=G;<;$7($Y<;@B<JA<T=JD<=

>G<8;:D<$9<NN:P:Q<<$B$A=?G<<$<$>G:DA<D=$JE9=L;MR$C<;@B<JA<T=JV

D<R$WDJ>=GA<8($ ��b8@CO9($�K=DB:GA:CH;MI$:;:C<A<T=JD<I$LfCC=A=;H(

Fp43$-,1/�+2263$J(+&V&2(

1( Y=?;:G9<$"($_;:C<8$9<NN:P:Q<?;;?@?$8:D?;?9:A=CHJAB:\$G:8V

@G:;<T=;<=$P=K9E$EAB=GK9=;<=P$?$N:DA=$<$BMG:K=;<=P$P;=;<O($��b8@CO9(

�K=DB:GA:CH;MI$:;:C<A<T=JD<I$LfCC=A=;H($Fp43$-,1/�+2263$J(&2]16(

'( c?;OA<=$T=JA<$<$9?JA?<;JAB:3$?JD?GLC=;<O$<$;=;?GP:A<B;?JA<$B

A=DJA:R$>G:B:$<$JG=9JAB$P:JJ?B?I$<;N?GP:Q<<($[?JA($_(_($Y=?;AH=B3

b(U($0:8MC=B3$`(_($0=CHT<D?B3$`(_($[?G?D<;3$G=9(_(S($S:A<;?B($]$a(\

F?;9$8:n<AM$@C:J;?JA<3$-))'(

:]ixd9{iz{*-::-M-d

?9i/79Rd9<jRV]/]*9RR?jc]7-i9x

cG<$?AB=A:R$;:$>?JA:BC=;;M=$B?>G?JM$B$>G=9=C:R$JB?=I$D?P>=A=;V

Q<<$J>=Q<:C<JAM$GED?B?9JAB?B:C<JH$JC=9Efn<P<$>?C?K=;<OP<$<$9=V

N<;<Q<OP<(

$C@>8L1DJ$ ]$ DG:I;=$ E;<8<AH$ D?@?VC(^$ EO8B<AH3$ 8:9=AH$ 8:$ D:D<=VC(

TEBJAB:$]$$0?CHr?I$A?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:$>?9$G=9($[(_(V

#E8;=Q?B:($]$[cL3$-))*3$J($'+)^

!71V1DJ$ ]$ 8:9=AH3$?JD?GL<AH$TH=VC($ J:P?CfL<=3$9?JA?<;JAB?3$>?V

JA:B<AH$B$E;<8<A=CH;?=$>?C?K=;<=$]$0?CHr?I$A?CD?BMI$JC?B:GH$GEJV

JD?@?$O8MD:$>?9$G=9([(_($#E8;=Q?B:($]$[cL3$-))*3$J($-%*)(

&3>C@>8L1D5FJ7>B3F5@C1@5$?A;?JOAJO$A:LE<G?B:;;M=$JC?B:3$D?;JAV

GEDQ<<$J$;=>G<C<T;MP$>GOPMP$<C<$>=G=;?J;MP$8;:T=;<=P$<C<$;=V

>G<JA?I;?I$?JD?GL<A=CH;?I$WP?Q<?;:CH;?I$?DG:JD?I(

b$A?CD?BMR$JC?B:GOR$J?BG=P=;;?@?$GEJJD?@?$O8MD:$=9<;<QM$?JD?GV

L<A=CH;?I$,<;B=DA<B;?I/$C=DJ<D<$>?P=T=;M$P:GD=G:P<$d;=Q=;8EG;?=e3

d;=;?GP:A<B;?=e3$dA:LEe($u?CD?BM=$JC?B:G<$GEJJD?@?$O8MD:$B$JB?=P

L?CHr<;JAB=$J?9=GK:A$T=ADEf$J<JA=PE$?Q=;?T;MR$>?P=A$,d@GEL?=e3$d>G=V

8G<A=CH;?=e3$dBECH@:G;?=e3$d;=Q=;8EG;?=e$<$A(>(/3$D?A?GM=$G:JDGMB:fA

;=@:A<B;MI$?Ln=JAB=;;MI$JA:AEJ$;=>G<JA?I;MR$JC?B$<$BMG:K=;<I3$:

A:DK=$<P=fA$<$D?9<N<Q<G?B:;;MI$R:G:DA=G($c?P=AM$A:D?@?$G?9:3$D:D

WA?$>G<;OA?$B$:D:9=P<T=JD?I$C=DJ<D?@G:N<<3$>G<8B:;M$J9=GK<B:AH$?A

E>?AG=LC=;<O$C=DJ<D<3$9<JDG=9<A<GEfn=I$;?J<A=CO$O8MD:-2

($#$A:D?BMP

?A;?JOA$A:LE<G?B:;;Ef3$;=Q=;8EG;Ef3$?LJQ=;;Ef$C=DJ<DE$<$P:A=Gr<;V

;Ef-- $

LG:;H\$J?LJAB=;;?$>G?JA?G=T;M=$@GELM=$<$LG:;;M=$WDJ>G=JJ<BM3

J;:LK=;;M=$>?P=A?I$d@GEL?=e3$dLG:;;?=e$,;:>G<P=G3$=710/S3P/8HS37/QN

257S3EGE25@313D"0"bS3;<8D:O$P:G@<;:CH;:O$C=DJ<D:$<$BECH@:G;?=$dN<8<?V

C?@<T=JD?=e$ JDB=G;?JC?B<=3$ BDCfT:O$P:A=Gr<;E$ ,=9<;<QM$GEJJD?@?

P:A:/3$P;?@?T<JC=;;M=$<R$>G?<8B?9;M=$<$<R$>=G=?JPMJC=;<O"3ZA?$;:<V

>G?<8B=C:$D?P<JJ<?;;?=$C<;@B<JA<T=JD?=$<JJC=9?B:;<=$>G=9JA:BV

C=;;MR$P:A=G<:C?B(

cG:B:$<$?AB=AJAB=;;?JAH$J>=Q<:C<JA:3$>G=9EJP?AG=;;M=$JA($6*$!c#

SF3$TC=;:P$D?P<JJ<<$<8B=JA;M3$?J;?B:;<I$9CO$?AD:8:$B$>G?<8B?9JAB=

<JJC=9?B:;<O$;=$<P==AJO(

c=G=9$J>=Q<:C<JA:P<$>?JA:BC=;M$JC=9Efn<=$B?>G?JM\

-($tA?$?8;:T:=A$B$J?BG=P=;;?P$GEJJD?P$O8MD=$BMG:K=;<=$d8:D?;V

T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<De3$E>?AG=LC=;;?=$ $B$D?;A=DJA=$ JA:V

AH<$duOKL:e3$?>ELC<D?B:;;?I$B$@:8=A=$d0:ID:CHJD<=$?@;<e$qq$1)V'2

?A$%-$:B@EJA:$+22'$@?9:(

+($XA;?J<AJO$C<$BMG:K=;<=$d8:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<V

;<De$D$?JD?GL<A=CH;?I$C=DJ<D=$<C<$NG:8=?C?@<<$J?BG=P=;;?@?$GEJV

JD?@?$O8MD:�

%($7P==A$C<$BMG:K=;<=$d8:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<De

?JD?GL<A=CH;Ef$N?GPE$B$D?;A=DJA=$E>?PO;EA?I$JA:AH<�

&($�BCO=AJO$C<$BMG:K=;<=$d8:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<De

;=>G<C<T;MP�

]1�"'=E.*C0";4=2)#"33E"*;#A*C0(&D)(;4=)2*'(J&44&(33(@(*#&3@)&N

4=&%"4'(@(*&44#";()23&AG* ,D?><O$JA:AH<$duOKL:e3$?>ELC<D?B:;;?I$B

@:8=A=$d0:ID:CHJD<=$?@;<e$qq$1)V'2$?A$%-$:B@EJA:$+22'$@?9:/(

9RR?jc]7-i9j

"CO$G=r=;<O$>?JA:BC=;;MR$B?>G?J?B$<J>?CH8?B:C<JH$P=A?9M$:;:C<V

8:$8;:T=;<I$JC?B3$BMJD:8MB:;<I$<$A=DJA:$B$Q=C?P3$G:8G:L?A:;;M=$B$C<;V

@B<JA<T=JD?I$J=P:;A<D=3$C<;@B?JA<C<JA<D=3$C<;@B<JA<D=$A=DJA:($7JJC=V

9?B:;<=$>G?B?9<C?JH$B$J??AB=AJAB<<$J$P=A?9<D:P<$>G?<8B?9JAB:$C<;@V

B?JA<C<JA<T=JD?@?3$A=DJA?C?@<T=JD?@?3$C=DJ<D?VJ=P:;A<T=JD?@?$<$J=P:;V

A<D?VJ<;A:DJ<T=JD?@?$:;:C<8:$GEJJD?O8MT;?@?$A=DJA:3$G=D?P=;9?B:;;MV

P<$D$>G:DA<T=JD?PE$<J>?CH8?B:;<f$G=r=;<=P$U:ET;?VP=A?9<T=JD?@?

J?B=A:$>G<$>G:BC=;<<$4YZ"7[3$:$A:DK=$JC=9Efn:O$C<A=G:AEG:\

-( [>?G;M=$A=DJAM$[a7$<$JE9=L;M=$<JD<\$cELC<D:Q<<($"?DEP=;V

AM($ZDJ>=GA<8M($#?PP=;A:G<<$C<;@B<JA?B($�$c?9$G=9($a(b($4?GL:;=BV

JD?@?($]$$a(\$cG=JA<K3$+226$@(^

+( c:POAD:$ >?$ B?>G?J:P$ ;:8;:T=;<O$ JE9=L;?I$ C<;@B<JA<T=JD?I

WDJ>=GA<8M($�$c?9$G=9($a(b($4?GL:;=BJD?@?($]$$a(\$a=9=O3$+22&^

%( u=?G<O$<$>G:DA<D:$C<;@B<JA<T=JD?@?$:;:C<8:$A=DJA?B$[a7$B

JE9=L;MR$WDJ>=GA<8:R$<$<;N?GP:Q<?;;MR$J>?G:R\$[L?G;<D$P:A=G<:V

C?B$;:ET;?V>G:DA<T=JD?@?$J=P<;:G:($a?JDB:$'V*$9=D:LGO$+22+$@($�c?9

G=9($a(b($4?GL:;=BJD?@?($$b$9BER$T:JAOR($]$$a(\$4:C=G<O3$+22+V+22%^

&($ �=;:$ JC?B:\$ 78$ >G:DA<D<$ C<;@B<JA<T=JD<R$ WDJ>=GA<8$ A=DJA?B

[a7$B$JE9=L;MR$>G?Q=JJ:R$>?$8:n<A=$T=JA<3$9?JA?<;JAB:$<$9=C?B?I

G=>EA:Q<<($��c?9$G=9($a(b($4?GL:;=BJD?@?$]$%$]=$<89(3$<J>G($<$9?>($]

a(\$4:C=G<O3$+22+(

-2$ a?D<=;D?$ b(a($ #$ T<A:A=Cf(��$ m<P<D$ b(b($ 0?CHr?I$ JC?B:GH$ GEJJD?I$ G:8@?B?G;?I

WDJ>G=JJ<B;?I$G=T<($]$[cL(\$U?G<;A3$+22&3$J($&(

--$_RP=A?B:$u(b($SEJJD<I$P:A\$A?CD?BMI$JC?B:GH($]$a(\$#?C?D?CVcG=JJ3$-))'(

ShQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

ShR

1$+/0

)*6

-#4

%/)#&

+,

#$ ?J;?B;MP$ A=P:A<T=JD<P$ @GE>>:P$ LG:;;?I$ C=DJ<D<$ ?A;?JOAJO

;:8B:;<O$K<B?A;MR^$;:<P=;?B:;<O$;=T<JA?A^$?LG:n=;<O$D$;=T<JA?I

J<C=^$?LB<;=;<O$B$;=8:D?;;?G?K9=;;?JA<^$;:<P=;?B:;<O$<;A<P;MR

?A;?r=;<I$<$;:8B:;<O$@=;<A:C<I($7P=;;?$;:C<T<=$;=>G<C<T;?I$N?GV

PM$A:D<R$JC?B$<$BMG:K=;<I$G:JQ=;<B:=AJO$D:D$>?JO@:A=CHJAB?$;:$TH<V

A?$T=JAH$<$9?JA?<;JAB?$<C<$G=>EA:Q<f(

u:D<P$?LG:8?P3$9CO$EJA:;?BC=;<O3$OBCO=AJO$C<$A?$<C<$<;?=$BMJD:V

8MB:;<=$ ?JD?GL<A=CH;MP$ J$ A?TD<$ 8G=;<O$ O8MD?B?I$ N?GPM$ BMG:K=V

;<O3$;=?LR?9<P?$;:C<T<=$<P=;;?$;=>G<C<T;?I$N?GPM(

Y<;@B<JA<T=JD<P<$P=A?9:P<$P?K;?$?>G=9=C<AH$AG<$:J>=DA:3$ J?V

B?DE>;?JAH$ D?A?GMR$ AG=LE=AJO$ $ 9CO$ EJA:;?BC=;<O$ N:DA:$ JC?B=J;?@?

?JD?GLC=;<O\

]$;:C<T<=$;=@:A<B;?V?Q=;?T;MR$JC?B$<$BMG:K=;<I$,<;B=DA<B/^

]$<R$:9G=J;?JAH$,A?$=JAH$D?PE$?;<$:9G=J?B:;M/^

]$ ;=>G<C<T;?JAH3$ ;=>G<JA?I;?JAH$ N?GPM$ BMG:K=;<O$ ;=@:A<B;?V

?Q=;?T;MR$JC?B$<$BMG:K=;<I(

[C=9E=A$?AP=A<AH3$TA?$B$J<CE$G=D?P=;9:Q<I$>?JA:;?BC=;<O$cC=;EV

P:$b=GR?B;?@?$JE9:$SF$dX$JE9=L;?I$>G:DA<D=$>?$9=C:P$?$8:n<A=$T=JA<

<$9?JA?<;JAB:$@G:K9:;3$:$A:DK=$9=C?B?I$G=>EA:Q<<$@G:K9:;$<$fG<9<V

T=JD<R$C<Qe$q%$?A$+&$N=BG:CO$+226$@(3$=JC<$JELs=DA<B;?=$P;=;<=$LMC?

BMJD:8:;?$B$?JD?GL<A=CH;?I$N?GP=3$E;<K:fn=I$T=JAH3$9?JA?<;JAB?$<C<

9=C?BEf$G=>EA:Q<f$<JAQ:3$;:$?AB=AT<D:$P?K=A$LMAH$B?8C?K=;:$?LOV

8:;;?JAH$D?P>=;J:Q<<$BG=9:3$>G<T<;=;;?@?$<JAQE$?JD?GLC=;<=P(

*8/77AB$]$[?9=GK:n<I$LG:;H($S=8D?$>?G<Q:fn<I($*8/71DJCH3]$+(

bMG:K:AH$JB?=$;=9?B?CHJAB?$B$@GELMR3$G=8D<R$JC?B:R($*8/7J$]$XJEKV

9:fn<=$<$?L<9;M=$JC?B:^$GE@:;H-&

(

!5Y81CD>B7AB3]$;=>G<C<T;MI3$L=JJAM9;MI-6

3$>C@>8L1D5FJ7AB$]$J?V

9=GK:n<I$?JD?GLC=;<=3$?JD?GLCOfn<I-1

(

9RR?jc]7-i9j*:]*:]Rd-7?jiiz6*7]:M]R-6

R#()(*ey9i9Vf*&J""=*4#";LgH&"*D32%"3&A.*D2b&'4&0()233E"*)

=(#'()EF*4#()20AF*4()0"J"33(@(*0L44'(@(*ADE'2,

�7U7#$]$-($�<;<T;MI$T=C?B=D($+($b$9G=B;=I$4G=Q<<\$>?JC=9?B:V

A=CH$N<C?J?NJD?I$rD?CM3$?AB=G@:Br=I$;G:BJAB=;;M=$?Ln=JAB=;;M=

;?GPM$ <$ >G<8MB:Br=I$ D$ :JD=A<8PE3$ >G?JA?A=$ <$ B?8BG:AE$ D$ >G<G?9=

,0?CHr?I$ A?CD?BMI$ JC?B:GH$ GEJJD?@?$ O8MD:3$ G=9($ [(_($ #E8;=Q?B3$ ]

[cL(\$7Y7$S_U3$UXS7Uu3$+22&3$J($-&1%/(

�7U7#$]$-($b$"G=B;=I$4G=Q<<\$>?JC=9?B:A=CH$:;A<T;?I$N<C?J?V

N<<3$ >G<8;:fn=I$ =9<;JAB=;;MP$ <JA?T;<D?P$ >?8;:;<O$ TEBJAB=;;?=

B?J>G<OA<=3$ ?AB=G@:fn=I$ DECHAEGE$ <$ EAB=GK9:fn=I$ L=8@G:;<T;Ef

JB?L?9E$T=C?B=D:$B$E9?BC=AB?G=;<<$JB?<R$K<8;=;;MR$>?AG=L;?JA=I(

L?C==$@GELM=$=9<;<QM3$K=JAD?=$?@G:;<T=;<=$<C<$>?C;MI$8:>G=A$;:$>ELV

C<T;?=$<$?J?L=;;?$>=T:A;?=$ ,?AJf9:$<$R:G:DA=G;MI$W><A=A$d;=>=T:AV

;?=/3$E>?AG=LC=;<=$D?A?GMR$B$G=T<$OBCO=AJO$AG:9<Q<?;;MP$9CO$GEJJD?I

DECHAEGM($b$JC?B:GOR$A:D<=$JC?B:$J;:LK:fAJO$>?P=A?I$d;=Q=;8EG;?=e(

b=9En<P$9<:@;?JA<T=JD<P$>G<8;:D?P$(4'(01&="#$3(4=&*JC?B:$<C<

BMJD:8MB:;<O$OBCO=AJO$ 3"C0&#&%32A* b(0J2* )E02h"3&A$ ?L?Ln=;;?I

?AG<Q:A=CH;?I$?Q=;D<$T=C?B=D:$<$@G:K9:;<;:(

]4'(01&="#$3E"* 4#()2$ JC=9E=A$ ?AC<T:AH$ ?A$ JC?B3$ D?A?GM=$ P?@EA

LMAH$9CO$T=C?B=D:$(1&;3EJ&.$;?$;=$?LC:9:AH$JB?IJAB?P$;=>G<JA?I;?V

JA<3$;=>G<C<T;?JA<3$:3$JC=9?B:A=CH;?3$?JD?GL<A=CH;?JA<(

XL<9;M=$JC?B:$?>G=9=COfAJO$D:D$;=>G<OA;M=$T=C?B=DE3$;?$ED:8MV

B:fn<=$;:$D:D<=VC<L?$N<8<T=JD<=$?J?L=;;?JA<$T=C?B=D:$,;:>G<P=G3

A?CJAMI3$B=G8<C:/-+

(

b$0?CHr?P$A?CD?B?P$JC?B:G=$GEJJD?@?$O8MD:$>?9$G=9($[(_(#E8;=V

Q?B:$>L10/$?>G=9=CO=AJO$L?C==$r<G?D?3$D:D$d?JD?GLC=;<=3$?@?GT=;<=3

>G<T<;=;;?=$D?PEVC<L?$;=J>G:B=9C<B?3$;=8:JCEK=;;?^$TEBJAB?3$BM8V

B:;;?=$WA<P$?JD?GLC=;<=P3$?@?GT=;<=Pe-%

($":;;?=$?>G=9=C=;<=$B$L?CHV

r=I$JA=>=;<$J??AB=AJABE=A$ J?BG=P=;;?PE$8;:T=;<f$JC?B:$d?L<9:e$B

GEJJD?P$O8MD=($#G?P=$A?@?3$ >L10/$?J;?BMB:=AJO$;:$<;9<B<9E:CH;?I

JELs=DA<B;?I$;=@:A<B;?I$WP?Q<?;:CH;?V>J<R?C?@<T=JD?I$G=:DQ<<$;:

JC?B:$J?L=J=9;<D:3$A:D$TA?$?L<9:$P?K=A$LMAH$;:;=J=;:$<$?JD?GLC=;<V

=P3$<$?LB<;=;<=P3$<$DC=B=A?I3$<$JG:B;=;<=P3$<$>G?JA?$R:G:DA=G<JA<V

D?I3$D?;JA:A:Q<=I$;=D?A?G?@?$?Ls=DA<B;?@?$N:DA:(

u:D<P$?LG:8?P3$(1&;2*=JAH$<;9<B<9E:CH;:O$JELs=DA<B;:O$;=@:A<BV

;:O$WP?Q<?;:CH;?V>J<R?C?@<T=JD:O$G=:DQ<O$T=C?B=D:$;:$J??Ln=;<=$?

;=P$;=@:A<B;?V?Q=;?T;?I$<C<$N:DA?C?@<T=JD?I$<;N?GP:Q<<($YfL?I

T=C?B=D3$<J>MA:Br<I$?L<9E$B$JBO8<$J$DG<A<D?I$<C<$8:P=T:;<=P$B$JB?I

:9G=J3$P?K=A$B?J>G<;OAH$==$ JELs=DA<B;?V?Q=;?T;?$D:D$?JD?GLC=;<=(

:0&3K&C&2#$3EJ*(=#&%&"J*(1&;E*(=*(4'(01#"3&A*A)#A"=4A*""*&3;&)&N

;L2#$3E5*4L1�"'=&)3E5*BJ(K&(32#$3(NC4&F(#(@&%"4'&5*F202'="0.*3"(N

1AD2="#$3(4=$*;#A*(1&;E*b2'=2*0"2#$3(@(*L3&h"3&A*#&%3(4=&*&*b2'L#$N

=2=&)3(4=$*(4'(01&="#$3(5*ADE'()(5*b(0JE,

Y<;@B<JA<T=JD<=$R:G:DA=G<JA<D<3$D?A?GMP<$9?CK;?$?LC:9:AH$BMJV

D:8MB:;<=3$TA?LM$=@?$P?K;?$LMC?$DB:C<N<Q<G?B:AH$D:D$?JD?GL<A=CHV

;?=$]$WA?$3"K"3DL03(4=$3$3"C0&4=(53(4=$$JC?B$<$BMG:K=;<I3$JG:B;=;<=

J$?9<?8;MP<$<JA?G<T=JD<P<$<$C<A=G:AEG;MP<$>=GJ?;:K:P<3$C=DJ<D:

<$NG:8=?C?@<O3$D?A?G:O$?JD?GLCO=A$?Ln=JAB=;;Ef$P?G:CH3$;:GEr:=A

;?GPM$?Ln=JAB=;;MR$>G<C<T<I($ZA:$C=DJ<D:$B$P?P=;A$?>ELC<D?B:V

;<O$A=DJA:$B?J>G<;<P:=AJO$L?CHr<;JAB?P$T<A:A=C=I$D:D$;=9?>EJA<V

P:O$B$>=T:A;?P$A=DJA=(

-&$XK=@?B$[(7(3$�B=9?B:$U(`($u?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:($]$a(3$+22%3$J($6*(

-6$u:P$K=$J($&--(

-1$u:P$K=$J($&1+(

-+$�=;:$JC?B:($78$>G:DA<D<$C<;@B<JA<T=JD<R$WDJ>=GA<8$A=DJA?B$[a7$B$JE9=L;MR$>G?V

Q=JJ:R$>?$8:n<A=$T=JA<3$9?JA?<;JAB:$<$9=C?B?I$G=>EA:Q<<($]%V=$<89(3$<J>G($<$9?>($]$$a(\

4:C=G<O3$+22+3$J($+-1(

-%$0?CHr?I$A?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:$>?9$G=9($[(_(#E8;=Q?B:($]$[cL(3$-))*3$J($11*(

SIT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

SIS

1$+/0

)*6

-#4

%/)#&

+,

• >?V<J>:;JD<$y!z{y|

eK&3&'f*)*(C0";"#"3&AFG

• 6-M9ji/]W.*-i-d]?9{*!]M9R]79<*#GE@?JB=A

�9D<I$JD=>A<D3$9:K=3$B?$P;?@?P3$K&3&'3$?;$,>?$DG:I;=I$P=G=3$B

<8?LG:K=;<<$JM;:/$?;$OBCOC$J?L?I$A<>$;=D?=@?$>G=DG:J;?@?$<;V

A=CC<@=;A:$;:T:C:$B=D:\$DG<A<T=JD<$<$C<L=G:CH;?$;:JAG?=;;?V

@?$P?G:C<JA:�

• 620&"3@(b*-32=(#&5*!(0&4()&%$l$a?JDB:

_BA?G$D;<@<$B?J>?P<;:;<I$dS?P:;$L=8$BG:;HOe$ ,-)+'/$]$@C:BV

;MP$?LG:8?P$?L$<JA?G<<$9GEKLM$J$�J=;<;MP3$J$D?A?GMP$a:V

G<=;@?N$>?GB:C$B$-)+63$dS?P:;:$?$K&3&'"e$,-)+*/3$:$A:DK=$D;<@<

da?I$B=D3$P?O$P?C?9?JAH3$P?<�e

-( y&3&'&$l$0G?D@:E8$<l�NG?;

y&3&'&3$JP($#<;<D<�

+( �<;<D

• y&3&'* a?GN=P;?V?GN?@G:N<T=JD<I$JC?B:GH

Q<;�<D��

• y&3&'*!r:D?B

�7­U7#3$:3$P($®?A$@G=T($£ w�$]$J?L:D:¯($-($c?JC=9?B:A=CH$9G=B;=V

@G=T=JD?I$N<C?J?NJD?I$rD?CM3$>?C:@:Br=I$JPMJC$K<8;<$<JDCfT<V

A=CH;?$B$9?LG?9=A=C<3$>G?>?B=9?B:Br=I$:JD=A<8P$<$?AB=G@:Br=I$@?JV

>?9JABEfnEf$P?G:CH�

%( y&3&DJ$!r:D?B

-($!T=;<=$K&3&'()$,JP($K&3&'$B$-$8;:T(^$<JA?G($N<C?J�

&( c&;0($Y<A=G:AEG;:O$W;Q<DC?>=9<O

S:P?3$ @=G?I$ 9GE@?I$ >?B=JA<3$ A:C:;AC<BMI$ K&3&'3$ ?9;?BG=P=;;?

?AA:CD<B:fn<I$ JB?=I$ L=J>G<;Q<>;?JAHf$ <$ >G<BC=D:fn<I$ JB?<P<

>:G:9?DJ:CH;MP<$JEK9=;<OP<�

6( !2#$D2'*],*;"*l$Y<A=G:AEG;:O$W;Q<DC?>=9<O

X>MA$YfJH=;:$<$S:JA<;HOD:$?L?Ln:=A$LMBr<I$D:A?GK;<D3$?LsOV

B<Br<I$ B?I;E$ ?Ln=JABE3$ K&3&'$ b?AG=;$ ,dXA=Q$ 4?G<?e3$ dc?JC=9;==

B?>C?n=;<=$b?AG=;:e/\$d>G<;Q<>?B$;=A3$]$ET<A$?;$S:JA<;HOD:3$]$:$=JAH

J?LMA<O3$ 8:D?;?B�e

1( /(3%20()$l$Y<A=G:AEG;:O$W;Q<DC?>=9<O

S:8EP==AJO3$<9=?C?@<T=JD<$?;<$;=JR?9;M3$;?$>J<R?C?@<T=JD<$WA?

?9<;$<$A?A$K=$A<>$LEGKE:$]$dK&3&'2e�

'( 6-c89c9.*6-c89c$ l$#GE@?JB=A

[fK=AM$C=;A$a:9K<9<$?ADG?B=;;?$P=C?9G:P:A<T;M$<$J>?J?L;M

G:JAG?@:AH$9:K=$8:D?G=;=C?@?$ K&3&'2($b$N<CHP=$XA=Q$ ,-))6/$?J<G?V

A=Br<I$>?9G?JA?D$B$rAMD<$>G<;<P:=A$?AT<P:3$;?$JG:8E$>G<R?9<A$;:

>?P?nH3$D?@9:$K<8;H�

*( ?L'&23$Y<A=G:AEG;:O$W;Q<DC?>=9<O

!BC=T=;<=$cC:A?;?P$,dU<@G<;e/$JP=;O=AJO$E$;=@?$EBC=T=;<=P$K&N

3&'2J&$ ,d4=GP?A<Pe/3$ 8:A=P$ EBC=T=;<=P$ W><DEG=<8P?P$ ,dX$ JP=GA<

+($�<;<T;MI$T=C?B=D$,u?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:3$G=9($U(`(

�B=9?B:3$]$a(\$S_U3$_8LED?B;<D3$+22'3$J($-2*2/

�7U7#$]$-($c?JC=9?B:A=CH$9G=B;=@G=T=JD?I$N<C?J?NJD?I$rD?V

CM($>?C:@:Br<I$JPMJC$K<8;<$<JDCfT<A=CH;?$B$9?LG?9=A=C<3$>G?>?V

B=9?B:Br=I$:JD=A<8P3$B?8BG:A$D$>=GB?LMA;?PE$J?JA?O;<f$<$?AB=G@:BV

r=I$ @?J>?9JABEfnEf$ P?G:CH$ ,<JA?G($ N<C?J(/($ +($ >=G=;($ �<;<T;MI3

L=JJAM9;MI$ T=C?B=D$ ,"(U($ !r:D?B3$ 0?CHr?I$ A?CD?BMI$ JC?B:GH$ J?V

BG=P=;;?@?$GEJJD?@?$O8MD:3$]$a(\$_CHN:VcG<;A3$+2263$J($--'+/(

�7U7#$]$-/$L=JJAM9;MI3$;=>G<JA?I;?$B=9En<I$J=LO$T=C?B=D^$+/

T=C?B=D($U:8MB:fn<I$B=n<$JB?<P<$<P=;:P<3$TA?$T:JA?$>G?<8B?9<A

?AA:CD<B:fn==$ B>=T:AC=;<=$ ;:$ Cf9=I3$ >G<BMDr<R$ D$ G:PD:P$ ?Ln=V

>G<;OA?I$;G:BJAB=;;?JA<^$%/$Q<;<D<$]$A?$K=3$TA?$D<;<D<3$>G<B=GK=;V

QM$9G=B;=@G=T=JD?I$N<C?J?N<<3$>G?>?B=9?B:Br=I$L=8@G:;<T;Ef$JB?V

L?9E$ ,U?B=Ir<I$JC?B:GH$<;?JAG:;;MR$JC?B$<$BMG:K=;<I3$]$a<;JD\

a(\$m_Sb�[uV_[u3$+22-3$J($*)'/(

�7U7#$]$-($b$9G=B;=I$4G=Q<<\$>?JC=9?B:A=CH$N<C?J?NJD?I$rD?V

CM3$?AB=G@:Br=I$;G:BJAB=;;M=$?Ln=JAB=;;M=$;?GPM$<$>G<8MB:fn<=

D$:JD=A<8PE3$>G?JA?A=$<$B?8BG:AE$D$>G<G?9=($+($�<;<T;MI$T=C?B=D$,[C?V

B:GH$GEJJD?@?$O8MD:3$A($&($]$a(\$SEJJD<I$O8MD3$-)*&3$J($1&1/(

�7U7#$]$-($u?3$DA?$>G?OBCO=A$Q<;<8P3$+($b$"G($4G=Q<<\$>?JC=9?V

B:A=CH$N<C?J?NJD?I$rD?CM3$?AB=G@:Br=I$;G:BJAB=;;M=$?Ln=JAB($;?GV

PM$<$>G<8MB:fn<=$D$:JD=A<8PE3$>G?JA?A=$<$B?8BG:AE$D$>G<G?9=$,c=GV

BMI$A?CD?BMI$0Z[$]$0?CHr?I$W;Q<DC?>=9<T=JD<I$JC?B:GH3$]$[cL(\$]

a(\$S7cXYVUXS7Uu3$+2213$J($-))&/(

u:D<P$?LG:8?P3$JC?B?$�7U7#$?A;?J<AJO$D$GEJJD?PE$C<A=G:AEGV

;?PE$O8MDE3$;=$<P==A$B$A?CD?BMR$JC?B:GOR$GEJJD?@?$O8MD:$>?P=A\$d@GEV

L?=e3$dLG:;;?=e3$dA:LE<G?B:;;?=e3$d;=Q=;8EG;?=e$<$A(>(3$?A;?J<AJO$D

>G:B<CH;?I$GEJJD?I$G=T<3$<P==A$G:8C<T;M=$A?CD?B:;<O$<$8:DCfT:=A$B

JB?=I$J=P:;A<D=$JELs=DA<B;Ef$?Q=;DE$C<T;?JA;MR$D:T=JAB$T=C?B=D:(

[C?B?J?T=A:;<=$JC?B$d8:D?;T=;;MI$$>G?N=JJ<?;:CH;MI$Q<;<De$B

J?BG=P=;;?I$G=T=B?I$>G:DA<D=$ JC?B?E>?AG=LC=;<O$P?K=A$BMG:K:AH

8;:T=;<=$dJN?GP<G?B:Br<IJO$R?C?9;MI$>G?N=JJ<?;:C3$D?A?G?PE$TEKV

9?$>G?OBC=;<=$WP?Q<Ie($b$A:D?P$J?BG=P=;;?P$<$?Ln=E>?AG=L<A=CHV

;?P$JPMJC=3$?J?L=;;?$>?$?A;?r=;<f$D$A:D<P$>G?N=JJ<?;:CH;MP$@GE>V

>:P$C<Q$D:D$BG:T<3$fG<JAM3$:9B?D:AM$<$9G($ ,Q<;<D$]$R?C?9;MI3$;=

>G?OBCOfn<I$WP?Q<I3$K:C?JA<$T=C?B=D/$JC?B?$dQ<;<De$E>?AG=LC=;?

<$B$D?;A=DJA=$<JJC=9E=P?I$JA:AH<(

"CO$>G<P=G:$JC?B?E>?AG=LC=;<I$>G<B=9=P$9:;;M=3$>?CET=;;M=$B

>?<JD?B?I$J<JA=P=$d�;9=Re(

eK&3&'f*)�4#()20AF*��������u���

• >?V:;@C<IJD<$y}z{y

• >?V;=P=QD<$~}z{���

• >?VNG:;QE8JD<$ y}z{���

• >?V<A:CHO;JD<$y{z{y|

SIh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*dQ*3BBMJKADEXL_*TA*BOQ*HFe4*H^G*,<*$!

SII

1$+/0

)*6

-#4

%/)#&

+,

X9;:D?$J:PMI$<8B=JA;MI$<8$><JHP?B;<D?B$9CO$T:JA;MR$C<Q3$BMV

9=GK:Br<I$8:$AG<$T=AB=GA<$B=D:$--$>=G=<89:;<I$]$WA?$8;:P=;<AMI$JL?GV

;<D$U(4(#EG@:;?B:$,-'+6]-')1/$]$dK&3&'2$>?$;:GEK;?JA<3$LC:@?G?9V

;?@?$T=C?B=D:$>?�

-)( :L#$%&$Y<A=G:AEG;:O$W;Q<DC?>=9<O

XAsOBC=;;MI$ K&3&'3$ L?@?RECH;<D3$ B?G$ <$ ?LK?G:3$ <89=B:fn<IJO

;:9$ BJ=P$ <$ 9:K=$ EP<G:fn<I$ ?A$ JP=R:3$ a:G@EAA=$ >G<BC=D:=A$ D$ J=L=

J?TEBJAB<=$JB?<P$?JAG?EP<=P$<$?ADG?B=;;?JAHf�

_;:C<8<GE=P:O$JA:AHO$duOKL:e3$?>ELC<D?B:;;:O$B$@:8=A=$d0:ID:CHV

JD<=$?@;<e$qq$1)V'2$?A$%-$:B@EJA:$+22'$@?9:3$>?JBOn=;:$D?;NC<DAV

;?I$J<AE:Q<<3$JC?K<Br=IJO$P=K9E$G=9:DQ<=I$@:8=AM$<$P=JA;?I$:9P<V

;<JAG:Q<=I(

_BA?G$>=G=9:=A$JB?f$WP?Q<?;:CH;Ef$?Q=;DE$9:;;?@?$D?;NC<DA:

<3$B$T:JA;?JA<3$WP?Q<?;:CH;?$?><JMB:=A$R?9$JE9=L;?@?$G:JJP?AG=;<O

B?8;<Dr<R$J>?G?B3$<J>?CH8EO$JA<C<JA<T=JD<$?DG:r=;;Ef$C=DJ<DE$,d9?V

G?@En<I$:9B?D:Ae3$ dAOKL:e/3$ WP?Q<?;:CH;?VWDJ>G=JJ<B;M=$BMG:K=V

;<O$ ,d9Er<AH$>?>ECOG;Ef$E$;:G?9:$@:8=AEe/3$P;?K=JAB?$G<A?G<T=JV

D<R$B?>G?J?B$<$A(>($b$D?;A=DJA=$JA:AH<$:BA?G$>G?A<B?>?JA:BCO=A$P?V

C?9MR$<$;=?>MA;MR$fG<JA?B$,SK;=B:$<$0?K==B:/$?>MA;?PE3$JN?GP<V

G?B:Br=PEJO$D:D$>G?N=JJ<?;:C3$fG<JAE$U?B?C?AJD?PE$ ,;:T:CH;<DE

fG<9<T=JD?@?$?A9=C:$:9P<;<JAG:Q<<$G:I?;:/($cG<$WA?P$?;$E>?AG=LV

CO=A$EJC?B;Ef$D?;JAGEDQ<f3$BMG:K:fnEf$JELs=DA<B;Ef$P?9:CH;?JAH

>?A=;Q<:CH;?I$B?8P?K;?JA<$>G<><JMB:;<O$U?B?C?QD?PE$J?LJAB=;V

;?I$JELs=DA<B;?I$R:G:DA=G<JA<D<\$d�JC<$?$@?J>?9<;=$U?B?C?AJD?P

P?K;?$JD:8:AH3$TA?$WA?$EK=$8:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<De(

b$9:;;?I$D?;JAGEDQ<<$JC=9E=A3$TA?3$;:8MB:O$fG<JA:$U?B?C?QD?@?

d>G?N=JJ<?;:CH;MP$ Q<;<D?Pe3$ :BA?G$ JA:AH<$ E>?AG=L<C$ BMG:K=;<=

d>G?N=JJ<?;:CH;MI$Q<;<De$B$8;:T=;<<3$?AG:K:fn=P$>G?N=JJ<?;:CHV

;?$ JN?GP<G?B:BrEfJO$ E$ ?>MA;?@?$ fG<JA:$ ;=TEBJAB<A=CH;?JAH3$ R?V

C?9;?JAH3$;=WP?Q<?;:CH;?JAH$fG<JA:3$;=$G=:@<GEfn=@?$;:$LEG;?$BMV

G:K:=PM=$WP?Q<<$J:P?@?$:BA?G:$JA:AH<3$BMJAE>:fn=@?$?9;?BG=P=;V

;?$B$D:T=JAB=$>G?Q=JJE:CH;?@?$?>>?;=;A:$fG<JA:$U?B?C?QD?@?$B$JEV

9=L;?P$8:J=9:;<<(

[C?B?$d�7U7#e3$B?8P?K;?3$LE9ET<$(1&;3EJ$9CO$A?@?$T=C?B=D:3

D$D?A?G?PE$?;?$?A;?J<AJO3$D$?JD?GL<A=CH;?I$C=DJ<D=$GEJJD?@?$O8MD:

;=$>G<;:9C=K<A3$A:D$D:D$;=$<P==A$;=>G<C<T;?I3$;=>G<JA?I;?I$O8MD?V

B?I$N?GPM3$A?$=JAH$WA?$;=$OBCO=AJO$?Q=;D?I$C<T;?JA<3$BMG:K=;;?I$B

;=>G<C<T;?I3$?JD?GL<A=CH;?I$N?GP=(

bMG:K=;<=$d8:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<De$B$J?BG=P=;V

;?P$C<A=G:AEG;?P$GEJJD?P$O8MD=$P?K=A$E>?AG=LCOAHJO$>?$?A;?r=;<f

D$fG<JAE3$:9B?D:AE3$BG:TE$<$>G=9JA:B<A=Cf$<;MR$>G?N=JJ<I3$AG=LEfV

n<R$>G?OBC=;<O$RC:9;?DG?B<O3$?L?8;:T:O$T=C?B=D:3$D?A?GMI$B$J<CE

c=G=@G<;:e/^$;:D?;=Q$Q=CMI$GO9$>G?<8B=9=;<I$;:>G:BC=;$>G?A<B$G:8V

;MR$N<C?J?NJD<R�

)( :jdMU|j7RV-x.*?+c69?-*RdjW-i]7i-$#GE@?JB=A

((($!G?D?B$PE8MD<$>G?<JR?9<A$>?C;?=$>G=?LG:K=;<=$>=GJ?;:K=I$B

JB?<R$ :;A<>?9?B\$ G?P:;A<T=JD<$ BCfLC=;;MI$ U<D?C:I$ ?D:8MB:=AJO

K&3&'(J3$ G:8L<A;:O$U:9O$]$K=;n<;?I3$ J>?J?L;?I$;:$ @CEL?D?=$TEBV

JAB?3$9?LG?9Er;M=$#?8C?BM�

-2( !]/-Md.*~Q6WM9*l$#GE@?JB=A

0C:@?9:GO$?LG:8E$G?P:;A<T;?@?$K&3&'2$S<D:$0CWI;:$9CO$P;?@<R

8G<A=C=I$0?@:GA$?C<Q=AB?GO=A$-)&2V=$@?9M�

--( c-:VUi-{dj.*9i/j!]M/-$ l$#GE@?JB=A

p:$G?CH$XCH@<$B$D:GA<;=$y&3&'&$,G=K�

-+( ?-M]|WUV].*WM-iRU-*cj*l$#GE@?JB=A

U?$Y:G?rNED?$;=CH8O$;:8B:AH$L=JJ=G9=T;MP$K&3&'(J�

-%( #<;<D<

• V&3&'&$0[Z

#<;<D<$,@G=T($£ ��£!�3$?A$° �!{�x�}{$]$#<;?J:G@3$R?CP$<$@<P;:V

J<I$B$_N<;:R3$@9=$_;A<JN=;$8:;<P:CJO$J$ET=;<D:P<^$C:A($v ��v�$]

K&3&'&/3$?9;:$<8$A:D$;:8MB:=PMR$J?DG:A<T=JD<R$N<C?J?NJD<R

rD?C$"G=B;=I$4G=Q<<�

• V&3&'&$0G?D@:E8$<l�NG?;

#<;<D<3$@G=T(3$<C<$K&3&'&3$>?JC=9?B:A=C<$Q<;<T=JD?I$rD?CM3

?J;?B:;;?I$B$g�$B($9?$S($mG($?9;<P$<8$ET=;<D?B$[?DG:A:$_;A<V

JN=;?P�

-&( xV]7?j7.*+M9{*7-R9?kj79<$#GE@?JB=A

dX;$JCMB=A$?JAGOD?P$<$L:C:@EG?P3$;=P;?@?$K&3&'(J�e

-6( RU~]7]NV]!z?9i.*-?jVR-icM*7-R9?kj79<*#GE@?JB=A

U?$@C:B;MI$@=G?I$?D:8MB:=AJO$9:C=D?$;=$D?P<T=JD<P$>=GJ?;:K=P$]

WA?$K=JA?D<I$K&3&'�

-1( Y��3$[u_U7[Y_b$�57

• ?jy.*Rd-i9R?-7*j89$#GE@?JB=A

((($b$-)&1$BMR?9<A$JL?G;<D$=@?$B?=;;MR$JA<R?B$c?C=B?I$LC?DV

;?A$<$A?P<D$J:A<G<T=JD<R$JA<R?B$<$NG:r=D$cG?@ECD:$K&3&'2($b

A?P$K=$-)&1$Y=Q$?A>G:BC=;$B$b=;E$B$D:T=JAB=$:AA:r=$>?$B?>G?V

J:P$DECHAEGM$>?C<A<T=JD?I$P<JJ<<�

• ?"K$$0[Z

((($-)61/3$>:G:9?DJ:CH;?JAHf$?LG:8?B$<$JEK9=;<I3$D?A?G:O$?J?V

L=;;?$R:G:DA=G;:$9CO$=@?$J:A<G$<$NG:r=D$,JL?G;<D<$dp??J:9e3

-)%63$dc:A=A<T=JD<=$ J:A<GMe3$-)%13$dcG?@ECD:$ K&3&'2e3$ -)&13

d5<8;H$]$WA?$NG:rD:e3$-)&*�

-'( :MUcV9i.*6-MV*9R--V]79<$#GE@?JB=A

c?8K=$<P$LMC<$B?>C?n=;M$;:$JQ=;=$K&3&'$0:J?B$,":T;<D<$a(4?GHV

D?@?3$G=K($b(_(XGC?B3$GED($>?JA�

-*( :9Rk6]7i9V9* #GE@?JB=A

SIL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-)

SIM

1$+/0

)*6

-#4

%/)#&

+,

(DNEU6O"+N@>H@\F6EF?CA@\m6ANZ>GU[aFC\F6HYBNZF?E@\]6ANNGFJ>HD@AX]6NZ>?@\]6EFBNE>H

V02='&5*2#b2)&=3E5*4C&4('*="0J&3()

-##gD&A��$ C<A=G:AEG;MI$ ;:P=D$ ;:$ <8B=JA;MI$ <JA?G<T=JD<I3$ C=V

@=;9:G;MI$<C<$LMA?B?I$N:DA3$D?A?GMI$J?89:=A$?L?Ln=;;MI$>?9A=DJA^

?AJMCD:$ B$ A=DJA=$ D$ 9GE@<P$ J?LMA<OP3$ D:D$ >G:B<C?3$ <8B=JA;MP$ BJ=P

;?J<A=COP$<8$?>MA:3$<8$N?;?BMR$8;:;<I$,8;:;<O$;?J<A=COP<$O8MD:$;:V

Q<?;:CH;MR$?LMT:=B3$AG:9<Q<I3$G=:C<I/(

-#$="032=&)3E5*)(C0(4l]$B?>G?J3$J?9=GK:n<I$9B:$<C<$;=JD?CHD?

>G=9>?C:@:=PMR$@?B?GOn<P$?AB=A?B(

-32b(0&%"4'&"*4)AD&*)*="'4="$]$?A;?r=;<O$P=K9E$T:JAOP<$A=DJA:

,P=K9E$JC?B:P<3$JC?B?J?T=A:;<OP<3$BMJD:8MB:;<OP</3$>G<$D?A?GMR$B

JPMJC$?9;?@?$JC?B:$,JC?B?J?T=A:;<O3$BMJD:8MB:;<O/$BR?9<A$?AJMCD:

D$9GE@?PE$JC?BE$,JC?B?J?T=A:;<f3$BMJD:8MB:;<f/($t:n=$BJ=@?$B$J>?GV

;MR$A=DJA:R$WDJ>=GAM$JA:CD<B:fAJO$J$:;:N?G<T=JD<P$E>?AG=LC=;<=P

P=JA?<P=;<I($U:>G<P=G\$-/$c=AG?B$LG:C$B8OAD<3$;?$=PE$BJ=@9:$LMC?

P:C?$9=;=@$]$B?$BA?G?I$T:JA<$>G=9C?K=;<O$P=JA?<P=;<=P$52G$>?<P=V

;?B:;$c=AG?B3$;:8B:;;MI$B$>=GB?I$T:JA<$>G=9C?K=;<O^$+/$a?K;?$BMLV

G:AH$A?A$>G?=DA3$8:$D?A?GMI$B$D?;B=GA=$>G<;=JEA$?AD:A3$<$WA?$LMC?$;:

BJ=R$WA:K:R$>G=K;=@?$P<;<JA=GJAB:($7$WA?$K=$>G?9?CK:=AJO$B$A=>=V

G=r;=P$_@=;AJAB=$]$9=IJAB<O$a<;<JA=GJAB:3$?><J:;;M=$B$>=GB?P$>G=9V

C?K=;<<$ ,BMLG:AH$ >G?=DA3$ 8:$ D?A?GMI$ >G<;=JEA$ ?AD:A/3$ >?C;?JAHf

?A;?JOAJO$D$9=IJAB<OP$_@=;AJAB:($u?$=JAH\$B$_@=;AJAB=3$D:D$<$B$a<;<V

JA=GJAB=3$BML<G:fA$>G?=DAM3$8:$D?A?GM=$>G<;?JOA$?AD:AM(

!0233E"*4#()2.*1023$��$@GELM=3$?JD?GL<A=CH;M=$JC?B:3$GE@:;H^$<;V

B=DA<B;:O$C=DJ<D:3$?JD?GLC=;<=3$GE@:A=CHJAB?^$?LJQ=;;:O$C=DJ<D:^$B

JC?B:GOR$LG:;;M=$JC?B:$P?@EA$<P=AH$>?P=AE$dLG:;e($U:>G<P=G\$058J2>$]

+($>=G=;($X$D?PVT=PV;<LE9H$;=@?9;?P3$@:9D?P$,LG:;(/$,XK=@?B$[($7($<

�B=9?B:$U($`($u?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:($a(3$-))*3$J($-1+/^

C?>F>EJ$ ,>G?JA3$ LG:;(/$ U=@?9OI3$ P=G8:B=Q($ +($ [?L<G($ [LG?93$ >?9CM=

Cf9<$,A:P$K=3$J($'26/($b:K;?$?LG:A<AH$B;<P:;<=3$TA?$JC?B:3$<P=fn<=

JB?=I$>G?N=JJ<<$<$L?CHr?@?$?>MA:3$>?$P=G=$8:B=Gr=;<O$N?GP<G?B:V

;<O$=@?$D:D$>G?N=JJ<?;:C:3$?LC:9:=A$RC:9;?DG?B<=P3$R?C?9;?JAHf3

J9=GK:;;?JAHf$BMG:K=;<O$JB?<R$TEBJAB3$WP?Q<?;:CH;MP$:JD=A<8P?P(

7z7]czG

-($b$J?BG=P=;;?P$GEJJD?P$O8MD=$BMG:K=;<=$d8:D?;T=;;MI$>G?N=JV

J<?;:CH;MI$Q<;<De3$E>?AG=LC=;;?=$B$D?;A=DJA=$JA:AH<$duOKL:e3$?>ELV

C<D?B:;;?I$B$@:8=A=$d0:ID:CHJD<=$?@;<e$qq$1)V'2$?A$%-$:B@EJA:$+22'

@?9:3$P?K=A$LMAH$<J>?CH8?B:;?$9CO$?L?8;:T=;<O$T=C?B=D:3$D?A?GMI$B

J<CE$JB?=I$>G?N=JJ<<$<$?>MA:3$>?$P=G=$8:B=Gr=;<O$N?GP<G?B:;<O$=@?

D:D$>G?N=JJ<?;:C:3$?LC:9:=A$RC:9;?DG?B<=P3$R?C?9;?JAHf3$J9=GK:;V

;?JAHf$BMG:K=;<O$JB?<R$TEBJAB3$WP?Q<?;:CH;MP$:JD=A<8P?P(

+($bMG:K=;<=$d8:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<De$D$?JD?GV

L<A=CH;?I$C=DJ<D=$<C<$NG:8=?C?@<<$J?BG=P=;;?@?$GEJJD?@?$O8MD:$;=

?A;?J<AJO(

%($bMG:K=;<=$d8:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<De$?JD?GL<V

A=CH;?I$N?GPM$B$D?;A=DJA=$:;:C<8<GE=P?I$JA:AH<$;=$<P==A(

&($bMG:K=;<=$d8:D?;T=;;MI$>G?N=JJ<?;:CH;MI$Q<;<De$;=>G<C<TV

;MP$;=$OBCO=AJO(

cG=9J=9:A=CH$>G:BC=;<O$4YZ"7[3

9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G3

:D:9=P<D$S_�U a(b(4?GL:;=BJD<I

"=IJAB<A=CH;MI$TC=;$4YZ"7[3

9?DA?G$fG<9<T=JD<R$;:ED3

9?DA?G$N<C?C?@<T=JD<R$;:ED3

:D:9=P<D$S_�U3$>G?N=JJ?G

D:N=9GM$JE9=L;MR$WDJ>=GA<8

a?JD?BJD?I$@?JE9:GJAB=;;?I

fG<9<T=JD?I$:D:9=P<< �(7($4:COr<;:

"=IJAB<A=CH;MI$TC=;$4YZ"7[3

9?DA?G$N<C?C?@<T=JD<R$;:ED3

TC=;VD?GG=J>?;9=;A$S_�U3

>G?N=JJ?G$D:N=9GM$P=A?9<D<3

>=9:@?@<D<$<$>J<R?C?@<<

4?JE9:GJAB=;;?@?$<;JA<AEA:

GEJJD?@?$O8MD:$<P$_([($cErD<;: _([(a:P?;A?B

O>0Y1C13CY5Q1/F1CD>?NF17=?1CD>?3V/?58HWp

$$$$$$$$$$$$$$$$$$cG=9J=9:A=CH$>G:BC=;<O$$4YZ"7[

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$a($b($4?GL:;=BJD<I

P(>(

SIO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*\Q*0BXADXUJ*OJIWLXU

SIP

1$+/0

)*6

-#4

%/)#&

+,

J?CfA;?$;=?As=PC=P:O$<$?RG:;O=P:O$@?JE9:GJAB?P$Q=;;?JAH($"?JA?V

<;JAB?l]$WA?$>?C?K<A=CH;?=$P;=;<=$T=C?B=D:$?$J:P?P$J=L=$D:D$?AG:V

K=;<=$=@?$J?Q<:CH;?I$?Q=;D<(

X2="'4=()2A*b(0J2*C(;2%&*&3b(0J2K&&*]$<;N?GP:Q<O$?L$:J>=DA=$,:JV

>=DA:R/$J?LMA<O3$B$A=DJA=$;=>?JG=9JAB=;;?$,B=GL:CH;?/$;=$BMG:K=;;:O(

93)"'=&)32A*#"'4&'2l]$C=DJ<D:3$D?A?G:O$P?K=A$E>?AG=LCOAHJO$D:D

N?GP:$?JD?GLC=;<O$<C<$E;<K=;<O$:9G=J:A:$G=T<$<C<$AG=AH=@?$C<Q:^

>?A=;Q<:CH;?$?JD?GL<A=CH;:O($#$<;B=DA<B;?I$C=DJ<D=$?A;?JOAJO$>G=KV

9=$BJ=@?$JC?B:$<$BMG:K=;<O3$E>?AG=LC=;<=$D?A?GMR$B$?Ln=;<<$;:GEV

r:=A$;?GPM$?Ln=JAB=;;?I$P?G:C<($ZA?$P?@EA$LMAH$D:D$ JC?B:$K:GV

@?;;M=3$9<:C=DA;M=3$>G?JA?G=T;M=3$A:D$<$JC?B:3$?A;?JOn<=JO$D$J?LV

JAB=;;?$C<A=G:AEG;?PE$O8MDE$,E>?AG=LC=;<=$C<A=G:AEG;MR$JC?B$A<>:

Y>0F5Q3$ 258V/?5Q$ B$D?;DG=A;?I$J<AE:Q<<$?Ln=;<O$P?K=A$>G?A<B?G=V

T<AH$;?GP:P$?Ln=JAB=;;?I$P?G:C<$B$;=$P=;Hr=I$JA=>=;</(

93="0C0"=2K&A�]$G:JDGMA<=$JPMJC:3$J?9=GK:;<O$T=@?VC<L?(

93b(0J2K&A*_4)";"3&A`l]$J?B?DE>;?JAH$O8MD?BMR$BMJD:8MB:;<I$?

P<G=3$ J?LMA<OR$<$?$>?C?K=;<<$9=C3$?L$?A;?r=;<<$?A>G:B<A=CO$<;V

N?GP:Q<<$D$WA<P$J?LMA<OP($7;N?GP:Q<O$P?K=A$LMAH3$B$T:JA;?JA<\

• b2'=&%"4'(5l]$?$D?;DG=A;MR$J<AE:Q<OR3$>G?<Jr=JAB<OR$<C<$J?V

LMA<OR3$?$>?JAE>D:R$<C<$>?B=9=;<<$N<8<T=JD?@?$C<Q:3$?$9=OA=CH;?JA<

C<Q:$fG<9<T=JD?@?^

• (1(1H2gH"5l]$?$A<><T;MR$J?LMA<OR3$A<><T;?P$>?B=9=;<<$T=V

C?B=D:3$A<><T;MR$>G=9JA:B<A=COR$D:D<RVC<L?$@GE>>3$?$K<A=IJV

D<R$?LMT:OR$<lA(l>(^

• B=&%"4'&*(K"3(%3(5l]$?$D:T=JAB:R$<$>?JAE>D:R$Cf9=I3$?$J<AE:V

Q<OR$<C<$J?LMA<OR3$D?A?GM=$B$D:D?IVC<L?$D:GA<;=$P<G:3$B$D:V

D?IVC<L?$ Q=;;?JA;?I$ J<JA=P=$ ?><JMB:fAJO$ D:D$ R?G?r<=$ <C<

>C?R<=^

• '(3K"C=L2#$3(5l]$A=?G=A<D?V:;:C<A<T=JD:O$<;N?GP:Q<O$?$>G<V

G?9;MR$<C<$J?Q<:CH;MR$8:D?;?P=G;?JAOR^

• ;&0"'=&)3(5l]$ ?G@:;<8Efn=I$ >?B=9=;<=$ Cf9=I($ "<G=DA<B;:O

<;N?GP:Q<O$P?K=A$BMG:K:AHJO$B$G:8C<T;MR$N?GP:R3$;:>G<P=G3

>G?JHLM3$ AG=L?B:;<O3$ <;N?GP<G?B:;<O$ ?L$ ?LO8:;;?JAOR($ -;N

0"42=l9<G=DA<B;?I$<;N?GP:Q<<l]$C<Q?$<C<$C<Q:3$>?$?A;?r=;<f

D$9=OA=CH;?JA<$D?A?GMR$9:;;:O$<;N?GP:Q<O$OBCO=AJO$?G@:;<V

8Efn=I(

93b(0J2K&A*3"5=02#$32Al]$<;N?GP:Q<O$,JB=9=;<O/$?$J<AE:Q<<3$J?V

LMA<<$ ,?$OBC=;<<3$?$C<Q=3$>?JAE>D:R$C<Q:/3$ D?A?GM=$B$ JA:;9:GA;?I

D:GA<;=$P<G:$;=$?><JMB:fAJO$B$Q=;;?JA;MR$D:A=@?G<OR$,D$A:D?I$<;V

N?GP:Q<<$;=>G<P=;<PM$?Q=;D<$dR?G?r?e$<$d>C?R?e/(

93b(0J2K&A*(=0&K2="#$32A$_3"@2=&)32A`$]$<;N?GP:Q<O$,JB=9=;<O/3

D?A?G:O$J?9=GK<A$?AG<Q:A=CH;M=$R:G:DA=G<JA<D<$fG<9<T=JD?@?$<C<

N<8<T=JD?@?$C<Q:$<C<$=@?$9=OA=CH;?JA<3$:$A:DK=$>?JAE>D?B$N<8<T=JV

A:D<=$>?P=AM3$P?@EA$E>?AG=LCOAHJO$<$D:D$P=K9?P=A<O3$9CO$EJ<C=;<O

WDJ>G=JJ<<($X$A<>:R$LG:;;MR$JC?B$<$<R$NE;DQ<OR$JP($>?9G?L;?\$b(a(

a?D<=;D?3$u(4($U<D<A<;:($SEJJD:O$LG:;;:O$C=DJ<D:\$Q=;8EG;?=$<$;=V

Q=;8EG;?=��$X;<$K=($[C?B:GH$GEJJD?I$LG:;<($[cL(3$+22%3$J($-2V1-(

7"012#$3E5*]$BMG:K=;;MI$JC?B:P<3$JC?B=J;MI(

7(C0(4��*BMJD:8MB:;<=3$Q=CH$D?A?G?@?$E8;:AH$TA?VC<L?3$B?>G?J<V

A=CH;M=$>G=9C?K=;<O$EAB=G9<A=CH;MP<$;=$OBCOfAJO($b?>G?J$J:P$>?

J=L=$;=$OBCO=AJO$JEK9=;<=P$?$T=PVC<L?3$;=$J?9=GK<A$;<$EAB=GK9=;<O3

;<$?AG<Q:;<O$T=@?VC<L?($b?>G?J$;:>G:BC=;$;:$>?LEK9=;<=$J?L=J=9V

;<D:$D$J??Ln=;<f$A=R$<C<$<;MR$JB=9=;<I3$:$JC=9?B:A=CH;?3$J?9=GK<A

<;N?GP:Q<f$ 9<G=DA<B;?@?$ A<>:($ b$ A?$ K=$ BG=PO$ B$ B?>G?J<A=CH;MR

BMJD:8MB:;<OR$;=G=9D?$BJAG=T:fAJO$JDGMAM=$<C<$>G=JE>>?8<A<B;M=

EAB=GK9=;<O$?$N:DA:R3$?Q=;?T;M=$JEK9=;<O$<lA(l>($U:>G<P=G3$B$B?>V

G?J=$d_$BT=G:$LMC?$A:D$K=$R?C?9;?�e$J?9=GK<AJO$?Q=;?T;?=$JEK9=V

;<=$?$A?P3$TA?$J=@?9;O$R?C?9;?(

7(4C0&A=&"* 0"%&* ]$ >G?Q=JJ$ <8BC=T=;<O$ JPMJC:3$ ;:R?9On=@?JO$ 8:

B;=r;=I$ N?GP?I$ G=T=BMR$ BMJD:8MB:;<I($ b?J>G<OA<=$ <$ >?;<P:;<=

@G:PP:A<T=JD?I$N?GPM$?G@:;<8:Q<<$G=T<$AG=LE=A$8;:;<O$C<;@B<JA<V

T=JD<R$8:D?;?P=G;?JA=I$==$>?JAG?=;<O($,c?9G?L;==$JP(\$b(c($0=CO;<;(

cJ<R?C<;@B<JA<D:($a3$FC<;A:3$+22&3$J(*']-26/(

7E)(;l]$?J?8;:;;?$JN?GP<G?B:Br==JO$P;=;<=$D:D$G=8ECHA:A$<JJC=V

9?B:;<O(

7E4'2DE)23&"l]$G=T=B:O$=9<;<Q:3$>=G=9:fn:O$?A;?J<A=CH;?$8:D?;V

T=;;MI$NG:@P=;A$<;N?GP:Q<<3$JB=9=;<I(

c"#()2A* 0"CL=2K&Al]$ >G<?LG=A:=P:O$ >?C?K<A=CH;:O$ <C<$ ?AG<Q:V

A=CH;:O$?Ln=JAB=;;:O$?Q=;D:$9=C?BMR$D:T=JAB$C<Q:($"=C?B:O$G=>EA:V

Q<O$>G=9JA:BCO=A$J?L?I$;:L?G$D:T=JAB$<$?Q=;?D3$J$D?A?GMP<$<R$;?J<V

A=CH$:JJ?Q<<GE=AJO$B$@C:8:R$JB?<R$D?;AG:@=;A?B3$DC<=;A?B3$>?AG=L<V

A=C=I3$D?CC=@$>?$G:L?A=3$>?DC?;;<D?B$ ,;:>G<P=G3$9CO$r?EVL<8;=J:/3

<8L<G:A=C=I$,9CO$BML?G;MR$9?CK;?JA=I/$<$>=GJ?;<N<Q<GE=AJO$JG=9<

9GE@<R$>G?N=JJ<?;:C?B$B$J??AB=AJABEfn=I$?LC:JA<$9=OA=CH;?JA<(

c(JE4#El]$BMB?9M$<$JEK9=;<O3$B$A?P$T<JC=$;=@:A<B;?V?Q=;?T;M=3

;=$?J;?B:;;M=$;:$D:D<RVC<L?$N:DA:R(

c(4=(&34=)(l]$ J?>G?B?K9:fn==JO$ >?C?K<A=CH;?I$ ?Q=;D?I$ C<Q:

?AG:K=;<=$=@?$D:T=JAB$B$=@?$J?LJAB=;;?P$J?8;:;<<($b$?AC<T<=$?A$T=JV

A<3$9?JA?<;JAB?l]$WA?$;=$>G?JA?$?Q=;D:$J??AB=AJAB<O$JB?=I$C<T;?JA<

<$JB?<R$>?JAE>D?B$ J?Q<:CH;MP$<C<$P?G:CH;MP$;?GP:P3$;?$>G=K9=

BJ=@?l]$?nEn=;<=$JB?=I$Q=;;?JA<$D:D$T=C?B=D:$B??Ln=$,T=C?B=T=JD?=

9?JA?<;JAB?/3$ D:D$ D?;DG=A;?I$ C<T;?JA<$ ,C<T;?=$ 9?JA?<;JAB?/3$ D:D

>G=9JA:B<A=CO$?>G=9=C=;;?I$J?Q<:CH;?I$@GE>>M$<C<$?Ln;?JA<$ ,;:V

>G<P=G3$>G?N=JJ<?;:CH;?=$9?JA?<;JAB?/3$Q=;;?JA<$J:P?I$WA?I$?LnV

;?JA<$ ,;:>G<P=G3$ ;:Q<?;:CH;?=$ 9?JA?<;JAB?/($ "?JA?<;JAB?$ ,;?$ ;=

T=JAH/$G:JJP:AG<B:=AJO$#?;JA<AEQ<=I$S?JJ<IJD?I$F=9=G:Q<<$D:D$:LV

SIQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*\Q*0BXADXUJ*OJIWLXU

SIR

1$+/0

)*6

-#4

%/)#&

+,

JAB<A=CH;?JA<$ J??Ln:=PMR$ <P$ ?$ 9GE@?P$ T=C?B=D=$ JB=9=;<I($ cG=9V

>?C?K=;<=$ ?$ A?P3$ TA?$ G:J>G?JAG:;O=PM=$ JB=9=;<O$ P?@EA$ ?D:8:AHJO

>G:B9<BMP<$,:$8;:T<A3$B?8P?K;?3$<$C?K;MP</3$JC=9E=A$JT<A:AH$?9;<P

<8$>G?OBC=;<I$8:B=9?P?JA<($p:B=9?P:O$C?K;?JAH$JB=9=;<I$P?K=A$LMAH

BMOBC=;:$A:DK=$:;:C<8?P$<P=fn<RJO$B$A=DJA=$>G?A<B?G=T<I3$d;=JAMV

D?B?De3$>G=K9=$BJ=@?$J$<;N?GP:Q<=I$JDGMA?I$<C<$>G=JE>>?8<A<B;?I(

V(JJL3&'2=&)3("* 32J"0"3&".* '(JJL3&'2=&)32A* L4=23()'2l]* Q=CH

@?B?GOn=@?3$><rEn=@?($cG<$J?89:;<<$RE9?K=JAB=;;?@?$>G?<8B=9=;<O

,B$A?P$T<JC=$<$>ELC<Q<JA<T=JD?@?/$D?PPE;<D:A<B;?=$;:P=G=;<=$,D?PV

PE;<D:A<B;:O$EJA:;?BD:/$G=:C<8E=AJO$B$ 8:PMJC=$:BA?G:($p:PMJ=C$;=

JC=9E=A$>EA:AH$ J$EPMJC?P($ #?PPE;<D:A<B;?=$;:P=G=;<=$?>G=9=CO=A

G?CH$ @?B?GOn=@?$ D:D$ ET:JA;<D:$ ?Ln=;<O$ <$ ?L?8;:T:=A$ D?;DG=A;Ef

Q=CH$=@?$BMJD:8MB:;<O3$A($=($J>G:r<B:=A$C<$?;3$<C<$EAB=GK9:=A3$<C<

>G<8MB:=A3$?JEK9:=A$<C<$?9?LGO=A3$J?B=AE=A$<C<$AG=LE=A$<$A($9($#?PV

PE;<D:A<B;M=$;:P=G=;<O$OBCOfAJO$G=@ECOA?G?P$B=GL:CH;?@?$>?B=9=V

;<O$>:GA;=G?B(

V(33(=2K&A��$D?P>?;=;A$,D?P>?;=;AM/$JPMJC:$JC?B:\$WP?Q<?;:CHV

;MI3$?Q=;?T;MI3$:JJ?Q<:A<B;MI3$JA<C<JA<T=JD<I($ZA?A$D?P>?;=;A$,D?PV

>?;=;AM/$J?>G?B?K9:=A3$9?>?C;O=A$?J;?B;?=$8;:T=;<=$JC?B:($#?;;?A:V

A<B;M=$D?P>?;=;AM$B$?J;?B;?P$JELs=DA<B;M$<$8:B<JOA$?A$P;?@<R$N:DV

A?G?B3$;:>G<P=G$?A$EG?B;O$?LG:8?B:;;?JA<$;?J<A=CO$O8MD:3$?A$=@?$P<V

G?B?J>G<OA<O$<$P<G?B?88G=;<O($!$;=D?A?GMR$JC?B$D?;;?A:A<B;M=$D?PV

>?;=;AM$?AP=T=;M$B$JC?B:GOR$J>=Q<:CH;MP<$>?P=A:P<\$<G?;($,<G?;<V

T=JD?=/3$>G=;=LG($ ,>G=;=LG=K<A=CH;?=/3$>G=8G($ ,>G=8G<A=CH;?=/$<$9G(

U:>G<P=G\$DC?:D:$]$+($>=G=;($X$T=PV;($DG:I;=$@GO8;?P3$?ABG:A<A=CH;?P

,?$@GO8;?P$P=JA=3$?$P?G:CH;?$;<8D?I$JG=9=/$,D;<K;($>G=8G(/^$L:;9f@:$]

A?$K=3$TA?$L:;9<A$,>G?JA3$>G=8G(/^$C?@?B?$]$C?@?B?$BG:@:$,>=G=;($>G=8G(/^

A<G:9:$,D;<K;($<G?;(/$]$9C<;;:O$NG:8:3$G=TH3$>G?<8;?J<PM=$B$>G<>?9V

;OA?P$A?;=($U=$JC=9E=A$8:LMB:AH3$TA?$JC?B:G<$><rEA$Cf9<3$>?WA?PE

;:C<T<=$A:D<R$J>=Q<:CH;MR$>?P=A$B$JC?B:GOR$;=CH8O$?A;=JA<$D$L=8EJV

C?B;?$?Ls=DA<B;MP($#?;;?A:A<B;M=$D?P>?;=;AM$B?$P;?@<R$JCET:OR

?LEJC?BC=;M$;:Q<?;:CH;?VJ>=Q<N<T=JD?I$D:GA<;?I$P<G:($u:D3$;?GV

P:CH;?=$9CO$;?J<A=C=I$GEJJD?@?$O8MD:$JC?B?J?T=A:;<=$ E587AB3D8/G8

,>?9$;?@AOP</$>C?R?$>?;<P:=AJO$;?J<A=COP<$O>?;JD?@?$O8MD:3$A:D$D:D

B$�>?;<<$QB=A$AG:EG:$L=CMI($#?;;?A:A<B;M=$D?P>?;=;AM$?T=B<9;M

>G<$JG:B;=;<<$J<;?;<P?B$<$J<;?;<P<T=JD<R$BMG:K=;<I\$Y8/?1D5FJCD?>

,;=IAG:CH;?/$]$Y8/?HZ153@8G=1$]$Y8/?HZ/H3?58PGI@/(

V(3="'4=*4#()2.*)E02h"3&A.*)E4'2DE)23&Al]$?A;?J<A=CH;?$8:D?;V

T=;;:O$B$JPMJC?B?P$?A;?r=;<<$T:JAH$A=DJA:3$9?JA:A?T;:O$9CO$>?;<V

P:;<O$JPMJC:$E>?AG=LC=;<O$WA?@?$JC?B:3$BMG:K=;<O3$BMJD:8MB:;<O$B

D?;DG=A;?P$A=DJA=(

V0&=&'2��$?LJEK9=;<=3$G:8L?G$T=@?V;<LE9H$J$Q=CHf$?Q=;<AH3$BMOV

B<AH$;=9?JA:AD<($#G<A<T=JD<=$>ELC<D:Q<<$>?$?>G=9=C=;<f$;=$P?@EA

D?@?$C<Q:$ J$ A?TD<$ 8G=;<O$ 89G:B?@?$ JPMJC:3$P?G:C<$<C<$J$>G:B?B?I

A?TD<$8G=;<O$,B$A?I$P=G=3$B$D?A?G?I$?L$WA?P$P?K=A$JE9<AH$CfL?I$9==JV

>?J?L;MI$@G:K9:;<;3$;=$<P=O$J>=Q<:CH;MR$>?8;:;<I$B$?LC:JA<$fG<JV

>GE9=;Q<</($�JC<$;=@:A<B;:O$<;N?GP:Q<O$,JB=9=;<O/$;=$J??AB=AJABE=A

9=IJAB<A=CH;?JA<3$A?$A:D:O$G:J>G?JAG:;O=P:O$<;N?GP:Q<O$;:8MB:=AV

JO$C(0(%2H"5$B$?A;?r=;<<$JELs=DA:$<;N?GP:Q<<l]$C<Q:3$D$D?A?G?PE

?;:$?A;?J<AJO($�JC<$;=@:A<B;:O$<;N?GP:Q<O$J??AB=AJABE=A$9=IJAB<V

A=CH;?JA<3$A?$A:D:O$<;N?GP:Q<O$;:8MB:=AJO$C(D(0AH"5$B$?A;?r=;<<

JELs=DA:$ <;N?GP:Q<<($ U=@:A<B;:O$ <;N?GP:Q<O$ P?K=A$ ;?J<AH$ D:D

?L?Ln:fn<I$R:G:DA=G$,;=@:A<B;:O$?Q=;D:$C<Q:3$=@?$D:T=JAB$<C<$9=OV

A=CH;?JA<$B$Q=C?P/3$A:D$<$R:G:DA=G$N:DA<T=JD<I$,@?B?GOn<I$J??Ln:V

=A$JB=9=;<O$?$D?;DG=A;MR$9=IJAB<OR3$>?JAE>D:R$C<Q:3$D?A?GM=$?AG<V

Q:A=CH;?$=@?$R:G:DA=G<8EfA/(

93b(0J2K&A*C(#(h&="#$32A*_C(D&=&)32A`*]$<;N?GP:Q<O$,JB=9=;<O/

?$J<AE:Q<<3$J?LMA<<$,?$OBC=;<<3$?$C<Q=3$>?JAE>D:R$C<Q:/3$D?A?GM=$B

J<JA=P=$Q=;;?JA=I$9:;;?@?$?Ln=JAB:$<C<$;:$?J;?B:;<<$J?Q<:CH;?$<

DECHAEG?C?@<T=JD<$?LEJC?BC=;;MR$P=JA;MR$JA=G=?A<>?B$B?J>G<OA<O

<$G=:@<G?B:;<O$JT<A:fAJO$R?G?r<P<3$>?RB:CH;MP<3$LC:@?>G<OA;MV

P<$9CO$9:;;?@?$?Ln=JAB:(

90(3&A.*&0(3&%"4'&"*4#()2.*&0(3&%"4'("*4#()(LC(=0"1#"3&"l]$A?;V

D:O3$JDGMA:O$;:JP=rD:($p:DCfT:=AJO$B$E>?AG=LC=;<<$JC?B:3$BMG:K=V

;<O$<C<$Q=C?@?$BMJD:8MB:;<O$B$JPMJC=3$>G?A<B?>?C?K;?P$LEDB:CHV

;?PE($7G?;<O$BMOBCO=AJO$;:$?J;?B=$D?;A=DJA:$<C<$N?;?BMR$8;:;<I3

<JDCfT:fn<R$B?8P?K;?JAH$LEDB:CH;?@?$>?;<P:;<O$JD:8:;;?@?$,;:V

><J:;;?@?/($7G?;<O$;=$P?K=A$LMAH$>G=9P=A?P$JE9=L;?@?$G:8L<G:A=CHV

JAB:3$A:D$D:D$JBO8:;:$J$B?J>G<OA<=P^$?9;?$<$A?$K=$<G?;<T=JD?=$BMJD:V

8MB:;<=$G:8;M=$Cf9<$B?J>G<;<P:fA$>?VG:8;?PE\$?9;<$D:D$>?C?K<V

A=CH;Ef3$9?LGEf$<G?;<f3$9GE@<=l]$D:D$?AG<Q:A=CH;Ef3$ 8CEf3$:$AG=V

AH<$B??Ln=$;=$B?J>G<;<P:fA$<G?;<T=JDEf$?DG:JDE(

94=(%3&'*&3b(0J2K&&$ ,JB=9=;<I/l]$A?A3$DA?$>G=9?JA:BCO=A$<;N?GV

P:Q<f($7JA?T;<D<$<;N?GP:Q<<$P?@EA$LMAH$?>G=9=C=;;MP<\$>?<P=;?V

B:;;MP<$B$A=DJA=$,&/@3C>>LZ1F3Y85CCNC5@85D/8J3$&/@3C>>LZ1F3%"�%"3#?/N

7>?3$&/@3C>>LZ/5D3)#+3_!>?>CD1`/$<C<$:;?;<P;MP<3$;=;:8B:;;MP<

,&/@3C>>LZ1F3Y850CD/?1D5FJ3+02171CD8/Q113O85V1057D/S3753Y>[5F/?N

I1B3C5LH37/V?/DJ/3l]$:$A:DK=$;=?>G=9=C=;;MP<$,O>3CFGP/23$&/@3=>?>N

8HD3?C53$O>375@>D>8A23C?50571H23$&/@37/23CD/F>31V?5CD7>/(

V#")"=2*]$WA?$>G:B?B:O$DB:C<N<D:Q<O$9=O;<O3$8:DCfT:fn=@?JO$B

G:J>G?JAG:;=;<<$8:B=9?P?$C?K;MR$JB=9=;<I3$>?G?T:n<R$T=JAH$<$9?JV

A?<;JAB?$9GE@?@?$C<Q:$<C<$>?9GMB:fn<R$=@?$G=>EA:Q<f($!JA:;?BC=V

;<=$N:DA:$DC=B=AM$D$D?P>=A=;Q<<$WDJ>=GA?BVC<;@B<JA?B$;=$?A;?J<AJO3

A:D$D:D$WA?$D?P>=A=;Q<O$JC=9?B:A=CO$,JE9:/(

p:B=9?P?JAH$ C?K;MR$ JB=9=;<I$ ?8;:T:=A3$ TA?$ G:J>G?JAG:;Ofn<I

DC=B=AE$?J?8;:=A$;=J??AB=AJAB<=$<C<$B?8P?K;?JAH$;=J??AB=AJAB<O$9=IV

SLT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*\Q*0BXADXUJ*OJIWLXU

SLS

1$+/0

)*6

-#4

%/)#&

+,

i"5=02#$32A*#"'4&'2*]$C=DJ<D:3$JA<C<JA<T=JD<$;=$P:GD<G?B:;;:O3

B$JC?B:GOR$;=$J;:LK:=AJO$J>=Q<:CH;MP<$>?P=A:P<(

i"C0&4=(532A* #"'4&'2.* 3"C0&#&%32A* #"'4&'2.* (14K"332A* #"'4&'2

JC?B:3$D?A?GM=$B$P?P=;A$<R$?>ELC<D?B:;<O$JT<A:fAJO$;=>G<C<T;MP<3

;=9?JA?I;MP<$A?@?3$TA?LM$LMAH$ ;:>=T:A:;;MP<3$R?AO3$ B?8P?K;?3$<

P?@En<P<$LMAH$>G?<8;=J=;;MP<$B$?>G=9=C=;;?I$J<AE:Q<<($db$G?JV

J<IJD?I$?Ln=JAB=;;?I$>G:DA<D=$;=>G<JA?I;?JAH$JBO8:;:$>G=K9=$BJ=V

@?$J$J=DJE:CH;MP<$>?;OA<OP<l]$@GELMP<$;:8B:;<OP<$@=;<A:C<I3$>?V

C?B?@?$ :DA:3$ >?C?BMR$ ?ADC?;=;<I$ <$ >G?T(e$ ,5=CHB<J$ b(7($ [C?B?$ <

9=C?\$fG<9<T=JD<I$:J>=DA$JDB=G;?JC?B<O��$ `G<JC<;@B<JA<D:V+\$GEJV

JD<I$O8MD$B$=@?$=JA=JAB=;;?P$<$fG<9<T=JD?P$LMA<<($0:G;:EC3$+2223$J(

++'/($U=>G<JA?I;:O$C=DJ<D:3$;=>G<C<T;:O$C=DJ<D:3$?LJQ=;;:O$C=DJ<V

D:l]$@GEL=Ir<=$BECH@:G;M=$BMG:K=;<O3$D?A?GMP<$@?B?GOn<I$G=:@<V

GE=A$;:$J<AE:Q<f^$A:D:O$C=DJ<D:3$D:D$>G:B<C?3$A:LE<G?B:;:3$A?$=JAH

8:>G=n=;:$9CO$>ELC<T;?@?$E>?AG=LC=;<O$B$J<CE$JC?K<Br<RJO$AG:9<V

Q<I($7P=;;?$>?WA?PE$B$G=T<$<C<$;:$><JHP=$WA<$JC?B:$BM;EK9:fA$@?V

B?GOn=@?$ ,><rEn=@?/$ J?89:B:AH$>G?>EJD<\$ #013 DA3 7/"""3$ (>F>CGB3 75

=>F>CGBS3?C538/?7>3Y>FGE1IJ3P""/($XLJQ=;<8PM$]$WA?$P:A($XLJQ=;;:O$C=DV

J<D:$,?A$C:A($|��y�z��l]$?ABG:A<A=CH;MI3$;=>G<JA?I;MI/$]$A=GP<;?C?V

@<T=JD?=$<P=;?B:;<=$;=>G<JA?I;?I3$;=>G<C<T;?I$C=DJ<D<($b$G:8;MR

O8MD?BMR$D:GA<;:R$G:8;M=$;=>G<JA?I;M=$JC?B:^$;=>G<JA?I;:O$C=DJ<V

D:$L?CHr=3$T=P$9GE@:O$C=DJ<D:3$R:G:DA=G<8E=AJO$;:Q<?;:CH;?I$J>=Q<V

N<T;?JAHf^$B$D:K9?I$;:Q<?;:CH;?I$DECHAEG=$=JAH$J:PM=$G:8;??LG:8V

;M=$J>?J?LM$?JD?GL<A=CH;?VWP?Q<?;:CH;?@?$B?89=IJAB<O$;:$?>>?;=;V

A:3$?A$O8B<A=CH;MR$8:P=T:;<I$B$=@?$:9G=J$9?$BECH@:G;MR$GE@:A=CHJAB(

]1&;2*]$J$A?TD<$8G=;<O$?L<K=;;?@?\$;=J>G:B=9C<B?$>G<T<;=;;?=

?@?GT=;<=3$:$A:DK=$TEBJAB?3$BM8B:;;?=$A:D<P$?@?GT=;<=P($#$?L<9;?I

?A;?J<AJO$<;N?GP:Q<O$?$N<8<T=JD<R$D:T=JAB:R$C<Q:$,DG<B?;?@<I3$CMV

JMI3$P:C=;HD<I^$>G?A<B;MI$@?C?J3$D?G?AD<=$>:CHQM/3$=@?$LMA?BMR$>G<V

BMTD:R$,R?9<A$B$GB:;MR$rA:;:R3$R?9<A$B$8:AG=>:;;?P$R:C:A=/3$=@?$G=T=V

B?I$P:;=G=$,@C?A:=A$JC?B:3$@?B?G<A$;=B;OA;?3$B?$GAE$D:r:/3$=@?$P:;=G=

?9=B:AHJO$ ,:CO>?B:A?$?9=B:=AJO3$?$K=;n<;=$B$B?8G:JA=\$?9=B:=AJO$D:D

>?9G?JA?D/3$=@?$>?B=9=;<=$J$>G?A<B?>?C?K;MP$>?C?P$,P=;O=A$K=;n<;3

D:D$>=GT:AD<^$?$;=8:PEK;=I$K=;n<;=\$E$;==$DET:$CfL?B;<D?B/(

]14K"332A*#"'4&'2��$JP($;=>G<JA?I;:O$C=DJ<D:3$;=>G<C<T;:O$C=DV

J<D:(

]4'(01#"3&"* �$ >G:B?B:O$DB:C<N<D:Q<O$9=O;<O3$D?A?G?=$BMG:K:V

=AJO$B$?AG<Q:A=CH;?I$?Q=;D=$C<T;?JA<3$E;<K:fn=I$T=JAH$<$9?JA?<V

;JAB?$WA?I$C<T;?JA<3$BMJD:8:;;?=$B$;=>G<C<T;?I3$Q<;<T;?I$N?GP=(

cG<$?JD?GLC=;<<$E;<K=;<=$T=JA<$<$9?JA?<;JAB:$BMG:K:=AJO$B$?AV

G<Q:A=CH;?I$?Q=;D=$C<T;?JA<^$A:D:O$?Q=;D:$EP:CO=A$=@?$9?JA?<;JAB?

B$@C:8:R$?DGEK:fn<R$<$;:;?J<A$En=GL$EB:K=;<f$J:P?@?$J=LO($XJD?GV

LC=;<=$D:D$E@?C?B;?$;:D:8E=P?=$9=O;<=$9?CK;?$LMAH$BMG:K=;?$B$;=V

N?GP<G?B:AH$>?C?K<A=CH;MI$?LG:8$D?@?VT=@?V;<LE9H($XLs=DA<B;:O

DG<A<D:$BJ=@9:$J?9=GK<A$:G@EP=;A<G?B:;;M=$EAB=GK9=;<O3$D?A?GM=

P?K;?$>G?B=G<AH$;:$J??AB=AJAB<=$9=IJAB<A=CH;?JA<(

V0E#2=E"*4#()2.*)E02h"3&A*]$EJA?IT<BM=$<8G=T=;<O3$>?CET<Br<=

r<G?D?=$G:J>G?JAG:;=;<=$<$<8B=JA;?JAH$<$B?r=9r<=$B$O8MD$<8$?>G=V

9=C=;;MR$C<A=G:AEG;MR3$>ELC<Q<JA<T=JD<R3$;:ET;MR$<JA?T;<D?B$<C<

J?89:;;M=$;:$<R$?J;?B=3$B?r=9r<=$B$G=TH$<8$JG=9JAB$P:JJ?B?I$<;N?GV

P:Q<<3$:$A:DK=$BMJD:8MB:;<O$G=:CH;MR$<JA?G<T=JD<R$C<Q$<$:N?G<8V

PM($U:>G<P=G\$u>D5F13@/@3FGEI5S3/3Y>FGE1F>CJ3@/@3?C5=0/"""$#GMC:AM=

JC?B:3$ BMG:K=;<O$ ;=$ AG=LEfA$ ?LO8:A=CH;?I$ ?AJMCD<$ D$ <JA?T;<DE(

#GMC:AM=$JC?B:$N<DJ<GEfAJO$B$J>=Q<:CH;MR$JC?B:GOR(

62="0H&32.* J2="0H&33E"* 4#()2.* J2="03E"* 4#()2.* J2=.* J2=&DJE

;=>G<C<T;:O$ LG:;H^$ JP($ ;=>G<JA?I;:O$ C=DJ<D:3$ ;=>G<C<T;M=$ JC?B:3

?LJQ=;;:O$C=DJ<D:(

63"3&"$,?$N:DA:R3$J?LMA<OR3$C<Q:R/l]$JEK9=;<=3$BMG:K:fn==$THfV

;<LE9H$ A?TDE$ 8G=;<O3$ ?A;?r=;<=$ D$ D?PEVC<L?3$ T=PEVC<L?($ a;=;<=

P?K=A$BMG:K:AHJO\$-/$B$N?GP=$>G=9>?C?K=;<O^$+/$B$N?GP=$EAB=GK9=V

;<O($a;=;<=$B$N?GP=$>G=9>?C?K=;<O$G:J>?8;:=AJO$>?$;:C<T<f$P:GV

D=G?Bl]$?>G=9=C=;;MR$JC?B$<$D?;JAGEDQ<I$,;:>G<P=G\$Y>32>52G3275N

71W^$2753@/[5DCH^$H30G2/W^$7/0>3Y>F/=/DJS3ED>^$@G:PP:A<T=JD<=$N?GV

PM$LE9En=@?$BG=P=;<$<$9G(/$a;=;<=$B$N?GP=$EAB=GK9=;<O$A:D<R$P:GV

D=G?B$;=$J?9=GK<A($a;=;<=$B$N?GP=$EAB=GK9=;<O$B$;=D?A?GMR$JCET:V

OR$P?K=A$LMAH$>G?B=G=;?$;:$J??AB=AJAB<=$9=IJAB<A=CH;?JA<(

a;=;<=3$B$?AC<T<=$?A$EAB=GK9=;<O$?$N:DA:R3$;=$P?K=A$J??AB=AJAB?V

B:AH$<C<$;=$J??AB=AJAB?B:AH$9=IJAB<A=CH;?JA<3$A:D$D:D$?AG:K:=A$;=$G=V

:CH;Ef$9=IJAB<A=CH;?JAH3$:$==$B?J>G<OA<=$T=C?B=D?P3$;=$P<G3$;?$THfVA?

C<T;Ef$D:GA<;E$P<G:3$?9;:D?$?;?$P?K=A$>?9AB=GK9:AHJO$<C<$;=$>?9V

AB=GK9:AHJO$N:DA:P<3$J?LMA<OP<$?Ls=DA<B;?I$9=IJAB<A=CH;?JA<($a;=V

;<=$P?K=A$?><G:AHJO$;:$N:DAM3$WA<P$?;?$?AC<T:=AJO$?A$;(JE4#23$<$J?V

9=GK:AH$?Q=;DE$N:DA?B$<$<R$D?PP=;A:G<<3$B$WA?P$=@?$?AC<T<=$?A$8;:;<O(

a;=;<=$P?K=A$N?GP<G?B:AHJO$;:$?J;?B=$N:DA?B$<C<$K=$LMAH$>G=9V

B8OAMP3$;=$?J;?B:;;MP$;:$N:DA:R($t=C?B=D$P?K=A$N?GP<G?B:AH$JB?=

P;=;<=$J?8;:A=CH;?3$G:Q<?;:CH;?$?Q=;<B:O$N:DAM3$<C<$L=JJ?8;:A=CHV

;?3$ ;=$ ?A9:B:O$ J=L=$ ?AT=A:$ B$ A?P3$ >?T=PE$ ?;$ A:D$ JT<A:=A($ b$ JCET:=3

D?@9:$B$A=DJA=$<8C?K=;$GO9$N:DA?B3$J?>G?B?K9:fn<IJO$D:D<PVA?$BMV

B?9?P3$BMA=D:fn<P$<8$;<R3$A:D?I$BMB?93$D:D$>G:B<C?3$AG:DAE=AJO$D:D

G:8;?B<9;?JAH$>G=9>?C?K=;<O($bMB?9$P?K=A$LMAH$;=B=G;MP$>?$9BEP

>G<T<;:P\$,-/l?9;?$<8$C?@<T=JD<$>G=9r=JABEfn<R$=PE$EAB=GK9=;<I$?

N:DA:R$;=$J??AB=AJABE=A$9=IJAB<A=CH;?JA<^$,+/l?r<L?T;:$J:P:$C?@<D:

G:JJEK9=;<I$,N:DAM$<8C?K=;M$9?JA?B=G;?3$;?$A:D?I$BMB?9$;:$<R$?JV

;?B:;<<$J9=C:AH$;=CH8O/(

i2J"'*�$B$A=DJA=\$JC?B:3$>G=9>?C:@:fn<=$>?;<P:;<=$>?$9?@:9D=($b

?A9=CH;MR$ JCET:OR$ B$ 9<:C?@<T=JD?I$ G=T<$ >?$ G=:DQ<<$ JCEr:fn=@?

P?K;?$EJA:;?B<AH3$LMC$C<$;:P=D$>?;OA3$A?$=JAH$LMC:$C<$9?@:9D:(

SLh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*\Q*0BXADXUJ*OJIWLXU

SLI

1$+/0

)*6

-#4

%/)#&

+,

JA:$R?T=A$>?9T=GD;EAH$>G=9B:G<A=CH;MI$R:G:DA=G$BMJD:8MB:=PMR$9?V

B?9?B$<C<$J?LJAB=;;Ef$;=EB=G=;;?JAH$B$<R$9?JA?B=G;?JA<(

:0&4(";&3"3&".*C0&4(";&3&="#$32A*4)AD$l]$A?$K=3$TA?$W><NG:8^$JA<V

C<JA<T=JD<I$ >G<oP3$ ?J;?B:;;MI$ ;:$ >G<J?=9<;=;<<$ D$ 8:D?;T=;;?PE

>G=9C?K=;<f$ 9?L:B?T;?@?$ J??Ln=;<O$ EA?T;Ofn=@?$ R:G:DA=G:^$ WA:

<;N?GP:Q<O$;=$BJ=@9:$JBO8:;:$J$@C:B;?I$PMJCHf$JEK9=;<O(

:0(4$12l]$ BMJD:8MB:;<=3$ J?9=GK:n==$>?LEK9=;<=$:9G=J:A:$D$ J?V

B=Gr=;<f$9=IJAB<I3$B$G=8ECHA:A=$D?A?GMR$LE9EA$E9?BC=AB?G=;M$D:V

D<=VC<L?$;EK9M$<C<$K=C:;<O$@?B?GOn=@?(

c?LEK9=;<=3$J?9=GK:n==JO$B$>G?JHL=3$P?K=A$>?9DG=>COAHJO$WDJ>V

G=JJ<=I3$EL=K9=;<=P$,OB;MP<$<$JDGMAMP<$JJMCD:P<$;:$8:D?;M3$>G:V

B<C:3$P?G:CH;M=$;?GPM3$G:;==$9?JA<@;EAM=$9?@?B?G=;;?JA<3$E@G?8?I

J?B=Gr=;<O$BG:K9=L;MR$9=IJAB<I$<$A(l>(/3$<;MP<$JG=9JAB:P<$BC<O;<O

;:$:9G=J:A:($cG?JHL:3$J?>G?B?K9:fn:OJO$>G<P=;=;<=P$O8MD?BMR$<C<

WDJAG:C<;@B<JA<T=JD<R$ JG=9JAB$BC<O;<O$;:$:9G=J:A:3$;:>G:BC=;;MP

;:$ =@?$ >?LEK9=;<=$ D$ E9?BC=AB?G=;<f$ 9:;;?I$ >G?JHLM3$ ;:8MB:=AJO

AG=L?B:;<=P(

M"2#$32A*L@0(D2l]$E@G?8:3$ J?>G?B?K9:fn:OJO$?L?J;?B:;<=P$<P=V

fn=IJO$E$@?B?GOn=@?$B?8P?K;?JA<$<C<$J>?J?L:$<J>?C;=;<O$E@G?8M(

XL?J;?B:;<=$P?K=A$;=$LMAH$OB;?$BMG:K=;?$B$A=DJA=3$;?$LMAH$>G<$WA?P

?T=B<9;MP3$B$WA?P$JCET:=$E@G?8:$A:DK=$B?J>G<;<P:=AJO$D:D$G=:CH;:O(

!@G?8:$ >G<T<;=;<O$ :9G=J:AE$ BG=9:$ >G<$ ?>G=9=C=;;MR$ EJC?B<OR3

;:JAE>C=;<=$D?A?GMR$8:B<J<A$?A$:9G=J:A:3$B?J>G<;<P:=AJO$D:D$;:>G:BV

C=;;:O$;:$BM;EK9=;<=$=@?$D$J?B=Gr=;<f$9=IJAB<I3$D?A?GM=$>G=9?ABV

G:AOA$;:JAE>C=;<=$ED:8:;;MR$EJC?B<I(

M"J2*$]$B$BMJD:8MB:;<<$;?B:O$<;N?GP:Q<O3$D?A?G:O$J??Ln:=AJO$?

="J"(

M"CL=2K&A*]$?Q=;D:$C<T;?JA<$B$?Ln=JAB=;;?P$P;=;<<3$?Ln==$P;=V

;<=$?$D:T=JAB:R3$9?JA?<;JAB:R$<$;=9?JA:AD:R$D?@?VT=@?V;<LE9H($S=>EV

A:Q<O$ ?>G=9=CO=A$ JA:AEJ$ T=C?B=D:$ B$ ?Ln=JAB=$ J$ >?8<Q<<$ 9?LG?V

>?GO9?T;?JA<3$>G=9JA:BC=;<=$?$;=P$9GE@<R$Cf9=I$<C<$>G=9JA:BC=;<=

?$J=L=$B$J?LJAB=;;?P$J?8;:;<<(

M&=(0&%"4'&5*)(C0(4l]$BMJD:8MB:;<=3$B?>G?J<A=CH;?=$>?$JAGEDAEV

G=3$;?$>=G=9:fn==3$D:D$<$>?B=JAB?B:A=CH;?=$BMJD:8MB:;<=3$<;N?GP:V

Q<f$?$T=PVC<L?($7;N?GP:Q<O$B$G<A?G<T=JD?P$B?>G?J=$BJ=@9:$JBO8:;:

J$BMG:K=;<=P$G:8C<T;MR$WDJ>G=JJ<B;?VWP?Q<?;:CH;MR$8;:T=;<I(

R)";"3&A*]$A?$K=3$TA?$<;N?GP:Q<O$,JP($&3b(0J2K&A/(

R(;"0h23&"* <C<$ 4JE4#*)E4'2DE)23&A*�$PMJCH3$ JEK9=;<=3$<C<$<R

NG:@P=;A3$?AG:K=;;M=$B$JAGEDAEG=$BMJD:8MB:;<O$,>G=9C?K=;<O3$NG:@V

P=;A:$A=DJA:3$A=DJA:/3$:$A:DK=$JDC:9MB:fn<=JO$<8$8;:T=;<I$<$>?GO9D:

JC?B3$J?JA:BCOfn<R$BMJD:8MB:;<=(

R(J3"3&"l]$G:8;?B<9;?JAH$>G=9>?C?K=;<O3$D?@9:$@?B?GOn<I$>G=9V

>?C:@:=A3$TA?$N:DA:3$?$D?A?G?P$?;$J??Ln:=A3$B$9=IJAB<A=CH;?JA<$;=$LMC?(

>G<C<T;?I3$ A?$ =JAH$Q<;<T;?I$N?GP=3$ @CEL?D?$>G?A<B?G=T:n=I$>G:V

B<C:P$ >?B=9=;<O3$ >G<;OAMP$ B$ ?Ln=JAB=($ XJD?GLC=;<=$ <P==A$ Q=CHf

>?9T=GD;EAH$;=>?C;?Q=;;?JAH3$ En=GL;?JAH$C<Q:V:9G=J:A:$<�<C<$=@?

;=J??AB=AJAB<=$NE;DQ<OP3$>?C?K=;<f$<$9G($XJD?GLC=;<=$P?K=A$LMAH

BMG:K=;?$B$N?GP=$K=JA?B$,A=C?9B<K=;<I/(

]C02);23&"l]$?L?J;?B:;<=$;=@:A<B;?$?Q=;<B:=PMR$J$P?G:CH;?VWA<V

T=JD<R$>?8<Q<I$9=IJAB<I3$>?JAE>D?B$<C<$;:P=G=;<I(

]K"3(%3E"*L=)"0h;"3&A$,J?9=GK:n<=$?Q=;DE$P;=;<O$<C<$>G=9>?V

C?K=;<O3$BMG:K=;;M=$B$N?GP=$EAB=GK9=;<I/3$D:D$>G:B<C?3$;=CH8O$B=V

G<N<Q<G?B:AHl]$>G?B=G<AH$;:$J??AB=AJAB<=$9=IJAB<A=CH;?JA<($U:>G<V

P=G3$;=CH8O$B=G<N<Q<G?B:AH$EAB=GK9=;<=$ ,F@17�a3 F571?5Q3$ A:D$D:D$E

D:K9?@?$JB?=$>G=9JA:BC=;<=$?$C=;<($0=JJ>?G;MP$DG<A=G<=P$J??AB=AV

JAB<O$9=IJAB<A=CH;?JA<$A?I$<C<$<;?I$?Q=;D<$P?@EA$JCEK<AH$BJAE><BV

r<=$ B$ 8:D?;;Ef$ J<CE$ JE9=L;M=$ G=r=;<O$ <$ >G<@?B?GM3$ J?9=GK:n<=

?Q=;DE$J??AB=AJABEfn=@?$N:DA:(

XQ=;D:$P?K=A$R:G:DA=G<8?B:AHJO$D:D$J>G:B=9C<B:O$<C<$;=J>G:B=9V

C<B:O3$D:D$?L?J;?B:;;:O$<C<$;=A3$;?$;=$P?K=A$R:G:DA=G<8?B:AHJO$B

Q=C?P$D:D$J??AB=AJABEfn:O$<C<$;=$J??AB=AJABEfn:O$9=IJAB<A=CH;?JV

A<($c?WA?PE3$=JC<$;=D?A?G:O$<;N?GP:Q<O$BMG:K=;:$J$>?P?nHf$?Q=V

;?T;MR$ JC?B$ ,;:>G<P=G3$ I/8F/D/7/3$ ?;:$ 9?CK;:$ :;:C<8<G?B:AHJO$ J

G:8C?K=;<=P$;:$N:DA<T=JD<I$D?P>?;=;A3$>?9C=K:n<I$B=G<N<D:Q<<

,O>F1D1@3u30/5D31VL18/D5FH23>L5Z/71HS37>3753?AY>F7H5D31P/3$<$?Q=V

;?T;MI$D?P>?;=;A3$ B=G<N<D:Q<<$;=$>?9C=K:n<I3$;?$R:G:DA=G<8E=V

PMI$>?$>:G:P=AGE$JA<C<JA<T=JD?I$;?GP:A<B;?JA<$,LC:@?>G<JA?I;?JV

A</($FG:8:$O>F1D1@3u3a3I/8F/D/7l]3WA?$K=JAD:O$DG<A<D:$B$:9G=J$>?C<V

A<D:3$9<JDG=9<A:Q<O$=@?3$>G=9>G<;<P:=P:O$B$A?P$JCET:=3$=JC<$==$:BV

A?G$JT<A:=A3$TA?$:E9<A?G<O$9EP:=A$?L$WA?P$>?C<A<D=$CETr=3$T=P$?;

A?@?$8:JCEK<B:=A3$<C<$=JC<$R?G?r==$P;=;<=$:E9<A?G<<$?$;=P$:BA?GE

;=BM@?9;?($p:$A:DEf$NG:8E$>?C<A<D$P?K=A$>?9:AH$@G:K9:;JD<I$<JD$?

8:n<A=$T=JA<3$9?JA?<;JAB:$<$9=C?B?I$G=>EA:Q<<3$B$?J?L=;;?JA<l]$=JC<

JT<A:=A3$ TA?$ N:DA<T=JD<I$ D?P>?;=;A$ <;N?GP:Q<<$ ;=$ J??AB=AJABE=A

9=IJAB<A=CH;?JA<($_$NG:8:$O>F1D1@3u3a3C?>F>EJ$ J?9=GK<A$?L?Ln=;V

;Ef$;=@:A<B;Ef$?Q=;DE$C<T;?JA<3$BMG:K=;;Ef$B$;=>G<C<T;?I3$J?Q<V

:CH;?$ ;=>G<=PC=P?I$ N?GP=($ ZA?l]$ ?JD?GLC=;<=^$ A?A3$ DA?$ >?9?L;Ef

NG:8E$>G?<8;=J3$JD?G==$BJ=@?3$LE9=A$;:D:8:;$JE9?P$8:$J?B=Gr=;<=$E@?V

C?B;?@?$>G=JAE>C=;<O

:0";C(#(h"3&"3$B$?AC<T<=$?A$EAB=GK9=;<O3$J?9=GK<A$J>=Q<:CH;M=

J20'"0E*C0";C(#(h&="#$3(4=&l]$JC?B:3$?L?G?AM$<$@G:PP:A<T=JD<=$JG=9V

JAB:3$BMG:K:fn<=$;=EB=G=;;?JAH3$J?P;=;<=3$B=G?OA;?JAH$>G?<JR?K9=V

;<O$A?@?$<C<$<;?@?$J?LMA<O3$?9;E$<8$GO9:$B?8P?K;MR$B=GJ<I$,;:>G<V

P=G3$2>[5D3LADJ3$?58>HD7>3$Y>N?1012>2G3$@/@3Y850CD/?FH5DCH3$0G2/N

5DCH3$<J>?CH8?B:;<=$@G:PP:A<T=JD<R$N?GP$LE9En=@?$BG=P=;</($cG=9V

>?C?K=;<=$OBCO=AJO$?9;?I$<8$N?GP$BMG:K=;<O$P;=;<O3$D?@9:$:BA?G$A=DV

SLL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*\Q*0BXADXUJ*OJIWLXU

SLM

1$+/0

)*6

-#4

%/)#&

+,

b?$BJ=R$JCET:OR$9CO$DB:C<N<D:Q<<$BMJD:8MB:;<O$D:D$E@G?K:fn=@?

;=?LR?9<P?$<JJC=9?B:;<=$D?;A=DJA:3$D:D$C<;@B<JA<T=JD?@?3$A:D$<$WDJAV

G:C<;@B<JA<T=JD?@?($F?GP:CH;:O$E@G?8:$P?K=A$LMAH$rEAD?I3$G=8ECHV

A:A?P$G=T=B?I$?r<LD<$<$ lA(l>($[$9GE@?I$JA?G?;M3$J:P?=$;=B<;;?=$;:

>=GBMI$B8@CO9$BMJD:8MB:;<=$P?K=A$?D:8:AHJO$JDGMA?I$E@G?8?I($[D:V

K=P3$>G=9>?C?K=;<=$?$B?8P?K;MR$WD?;?P<T=JD<R$?>:J;?JAOR$9CO$J?L=V

J=9;<D:3$BMJD:8:;;?=$>?JC=$=@?$?AD:8:$B$BM>?C;=;<<$>G?JHLM$@?B?GOV

n=@?3$B$L?CHr<;JAB=$JCET:=B$P?K=A$<;A=G>G=A<G?B:AHJO$D:D$E@G?8:3$;?

A?$K=$J:P?=$BMJD:8MB:;<=$B$D?;A=DJA=$?LJEK9=;<O$WD?;?P<T=JD?I$J<V

AE:Q<<$B$JAG:;=$A:D?I$<;A=G>G=A:Q<<3$D:D$>G:B<C?3$;=$9?>EJD:=A(

0?CHr?=$8;:T=;<=$9CO$DB:C<N<D:Q<<$D?PPE;<D:A<B;?@?$;:P=G=V

;<O$@?B?GOn=@?$D:D$E@G?8M$<P==A$A:DK=$<;A?;:Q<O($X9;:$<$A:$K=$NG:V

8:$ ,;:>G<P=G3$dp9?G?BH=$;:9?$L=G=TH�e/3$>G?<8;=J=;;:O$J$G:8;?I$<;V

A?;:Q<=I3$P?K=A$D:D$BMG:K:AH3$A:D$<$;=$BMG:K:AH$E@G?8E(

U=)"0h;"3&"�]$BMJD:8MB:;<=$,BMG:K=;<=$P;=;<O3$JEK9=;<=/3$B$D?V

A?G?P$EAB=GK9:=AJO$TA?VC<L?$<$B$D?A?G?P$?A?LG:K:=AJO$JBO8H$>G=9V

P=A:$<$=@?$>G<8;:D?B($!AB=GK9=;<=$@G:PP:A<T=JD<$BMG:K:=AJO$N?GV

P?I$>?B=JAB?B:A=CH;?@?$>G=9C?K=;<Ol]$D:D$;=B?JDC<Q:A=CH;?@?3$A:D

<$B?JDC<Q:A=CH;?@?($!AB=GK9=;<O$P?@EA$LMAH$<JA<;;MP<$ ,J??AB=AV

JABEfA$9=IJAB<A=CH;?JA</$<C<$C?K;MP<$ ,;=$ J??AB=AJABEfA$9=IJAB<V

A=CH;?JA</(

b$ 8:B<J<P?JA<$?A$R:G:DA=G:$BMG:K:=P?I$<;N?GP:Q<<$EAB=GK9=V

;<=$P?K=A$LMAH$EAB=GK9=;<=P$?$N:DA:R$,;:>G<P=G3$#?/731255D38>CD

9��23gT�C2/3$?Q=;?T;MP$JEK9=;<=Pl]$JELs=DA<B;MP$P;=;<=P$,#?/73?AN

C>@/3$ B$ A?P$T<JC=$;=@:A<B;?$?DG:r=;;MP$ ,#?/7l]3 0AF0//3$?L?Ln:fV

n<P$EAB=GK9=;<=Pl]$BMB?9?P$,CD>FLA3>LAE7>3?AC>@1/$<lA(l9(

U=)"0h;"3&"*(*b2'=2F$BJ=@9:$?J;?B:;?$;:$8;:;<OR3$D?A?GMP<$?LV

C:9:=A$ @?B?GOn<I($ !AB=GK9=;<O$ ?$ N:DA:R$ >?9C=K:A$ B=G<N<D:Q<<l]

>G?B=GD=$ ;:$ J??AB=AJAB<=$ 9=IJAB<A=CH;?JA<($ [??AB=AJAB<=$ 9=IJAB<V

A=CH;?JA<$;=$JC=9E=A$>EA:AH$J$<JA<;;?JAHf$BMJD:8MB:;<O($7JA<;;MV

P<$<C<$C?K;MP<$P?@EA$LMAH$>G<8;:;M$BMJD:8MB:;<O3$>?$N?GP=$>G=9V

JA:BCOfn<=$J?L?I$;=$A?CHD?$EAB=GK9=;<O3$;?$<$>G=9>?C?K=;<O3$BMV

B?9M$<lA(l>($7JA<;;?JAH$BMJD:8MB:;<O$$C7>?7/H3Y81E17/3C5=>07HI75N

=>3LF/=>Y>FGE7>=>3Y>F>[571H3)>CC11�a3?AC>@1B3G8>?57J3218>?AP3Q5737/

X758=>7>C1D5F1$P?K=A$LMAH$>?9AB=GK9=;:$<C<$?>G?B=G@;EA:$P=A?9:V

P<$WD?;?P<T=JD?I$;:ED<3$?9;:D?$A:D?=$<JJC=9?B:;<=$;=$OBCO=AJO$B=V

G<N<D:Q<=I($"?JA:A?T;?$JD:8:AH3$TA?$<JA<;;?JA;:O$?Q=;D:$WA?@?$BMJV

D:8MB:;<O$8:B<J<A$?A$DG<A=G<=B3$>G<P=;O=PMR$>G<$?Q=;D=$<JA<;;?JA<

A:D<R$=@?$D?P>?;=;A?B3$D:D$>C7>?7/H3Y81E17/$<C<$?AC>@1B3G8>?57J3Q57(

U=(%3AgH&5* )(C0(4l]$ B?>G?J3$ ?A;?JOn<IJO$ D$ G:;==$ J??Ln=;;?I

J?L=J=9;<D?P$<;N?GP:Q<<^$?LMT;?$<P==A$JB?=I$Q=CHf$>?CET=;<=$L?V

C==$>?9G?L;MR$JB=9=;<I3$>G?B=GDE$>G=9>?C?K=;<I$?$JPMJC=$JD:8:;V

;?@?$J?L=J=9;<D?P$<lA(l>(

R02)3"3&"�]$?Q=;D:$9BER$<C<$;=JD?CHD<R$?Ls=DA?B$D:D$JR?K<R$P=K9E

J?L?I($b$?J;?B:;<<$JG:B;=;<O$C=K:A$?Ln<=$>G<8;:D<$?Ls=DA?B($XQ=;D:

B:K;?JA<$WA<R$>G<8;:D?B$<$JA=>=;<$JR?K=JA<$?Ls=DA?B$;:$?J;?B=$<R

J?B>:9=;<O$JELs=DA<B;:($[G:B;=;<=$;=$>?9C=K<A$B=G<N<D:Q<<($[G:BV

;=;<=$T=C?B=D:$ J$D:D?IVC<L?$?Ln=<8B=JA;?I$?9<?8;?I$N<@EG?I$P?V

K=A$LMAH$?JD?GL<A=CH;MP3$8:9=B:AH$=@?$T=JAH$<$9?JA?<;JAB?3$;=@:A<BV

;?$ ?AG:K:AHJO$ ;:$ =@?$ 9=C?B?I$ G=>EA:Q<<3$ =JC<$ G=TH$ <9=A$ ?L$ ?Ln=I

R:G:DA=G<JA<D=$C<T;?JA<3$:$;=$?A9=CH;MR$==$>?JAE>D?B$<C<$D:T=JAB(

RLh;"3&"l]$ -/$ B$C?@<D=\$?>=G:Q<O$J$>?;OA<OP<3$<8$D?A?GMR$?9;?

,JELs=DA/$?>G=9=CO=AJO$<$G:JDGMB:=AJO$T=G=8$9GE@?=$,>G=9<D:A/($b$CfV

L?P$JEK9=;<<$TA?VC<L?$EAB=GK9:=AJO$<C<$?AG<Q:=AJO$?A;?J<A=CH;?

>G=9P=A?B$<$OBC=;<I3$<R$JB?IJAB3$ JBO8=I$<$?A;?r=;<I^$+/$A?$K=3$TA?

275715($ cG<$ :;:C<8=$ J>?G;MR$ A=DJA?B$ C<;@B<JA<T=JD:O$ WDJ>=GA<8:

<P==A$9=C?$J$JEK9=;<=P$B?$BA?G?P$8;:T=;<<3$A?$=JAH$J$P;=;<=P(

d"J2*$]$-/$<8B=JA;?=3$<JR?9;?=3$9:;;?=$B$BMJD:8MB:;<<^$+/$A?3$?$T=P

@?B?G<AJO$B$A=DJA=$<C<$=@?$NG:@P=;A=($b$?Ln=P$JCET:=$BMJD:8MB:;<=

<C<$NG:@P=;A$A=DJA:$P?K=A$J?9=GK:AH$<;N?GP:Q<f3$?A;?JOnEfJO$D

;=JD?CHD<P$>?A=;Q<:CH;MP$A=P:P($b$8:B<J<P?JA<$?A$D?;A=DJA:$:DAEV

:C<8<GEfAJO$A=$<C<$<;M=$>?A=;Q<:CH;M=$A=PM($bM9=C=;<=$>?A=;Q<V

:CH;MR$A=P$B?8P?K;?$J$G:8;?I$JA=>=;Hf$D?;DG=A<8:Q<<($S:89=C=;<=

>?A=;Q<:CH;?I$A=PM$;:$?A9=CH;M=$>?9A=PM$<$?Ls=9<;=;<=$;=JD?CHV

D<R$A=P$B$@<>=GA=PE$;?J<A$EJC?B;MI$R:G:DA=G3$;=$?D:8MB:=A$G=r:fV

n=@?$BC<O;<O$;:$G=8ECHA:AM$C<;@B<JA<T=JD?@?$<JJC=9?B:;<O^$?J;?BV

;MP$DG<A=G<=P3$?>G=9=COfn<P$;=?LR?9<PEf$JA=>=;H$D?;DG=A<8:Q<<

A?I$<C<$<;?I$A=PM3$OBCO=AJO$?>=G:Q<?;:CH;?JAH(

U1"h;"3&".*L1"h;"33("*J3"3&"l]$AB=G9?=$P;=;<=($bMG:K=;<=$EL=KV

9=;<I$B$A=DJA=$G:J>?8;:=AJO$>?$;:C<T<f$?L?G?A?B3$>?9T=GD<B:fn<R

9?JA?B=G;?JAH$J??Ln:=PMR$JB=9=;<I3$EL=K9=;;?JAH$@?B?GOn=@?$B$<R

<JA<;;?JA<$,;:>G<P=G3$H3GL5[0573$L5CCY>87>3$=>F>?G30/W37/3>DC5E5715/(

a;=;<=3$BMG:K=;;?=$B$N?GP=$BMB?9:3$>G<$;:C<T<<$>?9?L;MR$?L?G?V

A?B$B?J>G<;<P:=AJO$D:D$?J?8;:;;?$JN?GP<G?B:Br==JO$EL=K9=;<=(

U@0(D2l]$ BMG:K=;<=$ ;:P=G=;<O$ J?B=Gr<AH$ 9=IJAB<O3$ >?JAE>D<3$ B

G=8ECHA:A=$D?A?GMR$B=G?OA;?$;:JAE>C=;<=$;=@:A<B;MR$>?JC=9JAB<I$9CO

:9G=J:A:(

�JC<$?J;?B;M=$Q=C<$J?B=Gr=;<O$ED:8:;;MR$9=IJAB<I$;=$<P=fA$D

:9G=J:AE$;=>?JG=9JAB=;;?@?$?A;?r=;<O3$:$LE9En<=$;=@:A<B;M=$>?JC=9V

JAB<O$OBCOfAJO$<R$>?L?T;MP$WNN=DA?P3$A:D:O$E@G?8:$G:JJP:AG<B:=AV

JO$D:D$>G=9?JA=G=K=;<=($cG=9?JA=G=K=;<=$P?K=A$LMAH$9?LG?K=C:A=CHV

;MP$>?$?A;?r=;<f$D$:9G=J:AE(

bMG:K=;<=$ E@G?8M$ P?K=A$ LMAH$ D:D$ OB;MP$ ,;:>G<P=G3$ d�$ A=LO

ELHf�el]$OB;?=$BMG:K=;<=$J??AB=AJABEfn=@?$;:P=G=;<O$d?ADGMAMP

A=DJA?Pe/3$A:D$<$JDGMAMP3$8:BE:C<G?B:;;MP3$<P=AH$N?GPE$;:P=D:(

SLO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-)

SLP

1$+/0

)*6

-#4

%/)#&

+,

(DNEU6P"+N@>H@\F6NG>HD?A6?aNNB>V>6X[\BDA6A@EF?@FEb?FNa?N\m6?FB>CF@JaFC\FN>E?aJ@ABDC6/>NB>C@DJ[>?D

P"S" 1G>HD?@DX6NEDEUX6E>GB>H>V>6NG>HD?X^>=_AF6NHFJF@AXFG

[C?B:G<$<@G:fA$L?CHrEf$G?CH$B$J?BG=P=;;?I$DECHAEG=3$B$;<R$?AV

G:K:fAJO$8;:;<O3$;:D?>C=;;M=$?Ln=JAB?P$;:$>G?AOK=;<<$B=D?B$X;<

JCEK:A$Q=COP$?><J:;<O$<$;?GP:C<8:Q<<$O8MD:3$J?9=IJABEfA$>?BMr=V

;<f$>G:B<CH;?JA<$<$BMG:8<A=CH;?JA<$G=T<$=@?$;?J<A=C=I(

%>D3@/@>53>Y8505F571530/WD3CF>?/8W38/V7A531CD>E71@1\

R#()20$$ ]$ +/$ J>G:B?T;:O$ D;<@:3$ J?9=GK:n:O$ J?LG:;<=$ JC?B$ ,<C<

P?GN=P3$ JC?B?J?T=A:;<I3$<9<?P$<$A($9(/3$G:J>?C?K=;;MR$>?$?>G=9=V

C=;;?PE$>G<;Q<>E3$<$9:fn:O$JB=9=;<O$?L$<R$ 8;:T=;<OR3$E>?AG=LC=V

;<<3$ >G?<JR?K9=;<<3$ >=G=B?9=$ ;:$ 9G($ O8MD$ <$ A($ >($ ,C<;@B<JA<T=JD<=

JC?B:G</$<C<$<;N?GP:Q<f$?$>?;OA<OR$<$>G=9P=A:R3$<P<$?L?8;:T:=V

PMR3$?$9=OA=COR$B$D:D<RVC<L?$?LC:JAOR$;:ED<3$DECHAEGM$<$9G($,U?BMI

W;Q<DC?>=9<T=JD<I$JC?B:GH($a(3$+222/(

R#()20$3$ JC?B;<D3$ JC?B?A?CD?B;<D3$ JC?B?A?CD3$ JC?B:G<D3$ JC?B:GV

T<D^$ JC?B:G<rD:^$ JC?B:G<n:^$G=T;<D3$C=DJ<D?;^$ JL?G;<D$JC?B3$G=T=V

;<I$D:D?@?VC<L?$O8MD:3$J$A?CD?B:;<=P$<C<$J$>=G=B?9?P($[C?B:G<$LMV

B:fA$?Ln<=$<$T:JA;M=3$?L<R?9;M=$<$;:ET;M=$,":CH$b($7($u?CD?BMI

JC?B:GH$K<B?@?$B=C<D?GEJJD?@?$O8MD:/(

R#()20$*]$J?LG:;<=$JC?B$ ,?LMT;?$B$:CN:B<A;?P$>?GO9D=/3$EJA?IV

T<BMR$BMG:K=;<I$J$>?OJ;=;<OP<3$A?CD?B:;<OP<$<C<$J$>=G=B?9?P$;:

+2$b$D:T=JAB=$9:;;?@?$BB=9=;<O$;:P<$<J>?CH8?B:;$A=DJA$8:P=AD<$dbJ=C=;;:O$B$:CN:B<A=e3

BMC?K=;;MI$$;:$<;A=G;=AV>?GA:C=$4G:P?A:(SE\$���y\�����(�x��w��(xz�{~w��x��� y}{�-'¤+

W2'=*�$<JA<;;?=$J?LMA<=3$9=IJAB<A=CH;?=$>G?<Jr=JAB<=$<C<$OBC=V

;<=3$JEn=JAB?B:Br==$<C<$JEn=JABEfn==$;:$J:P?P$9=C=($b:K;?$G:8C<V

T:AH$N:DA$<$D?PP=;A:G<<$>?$>?B?9E$N:DA:3$A?$=JAH$JEK9=;<O$?$N:DA=(

y&=2=2��$A?T;:O$9?JC?B;:O$BM9=GKD:$<8$D:D?@?V;<LE9H$A=DJA:3$BMJV

D:8MB:;<O$,JP($XK=@?B$[(7($<$�B=9?B:$U(`($u?CD?BMI$JC?B:GH$GEJV

JD?@?$O8MD:($a(3$-))'3$J($*'1/($�<A:AM$>?$>G:B<C:P$GEJJD?I$>E;DAE:V

Q<<$8:DCfT:fAJO$B$D:BMTD<3$>G<$Q<A<G?B:;<<$ED:8MB:=AJO$<JA?T;<D

Q<A:AM$ ,:BA?G3$ >G?<8B=9=;<=/($ �<A<G?B:;<=$ P?K=A$ LMAH$ >GOPMP$ <

D?JB=;;MP($cG<$>GOP?P$Q<A<G?B:;<<$ED:8MB:fAJO$:BA?G3$>G?<8B=9=V

;<=3$:$ 8:A=P$J:P:$Q<A:A:($cG<$D?JB=;;?P$Q<A<G?B:;<<$:BA?G$P?K=A

>GOP?$;=$ED:8MB:AHJO3$:$Q<A:A:$BB?9<AJO$B$A=DJA$JC=9Efn<P<$JC?B?V

J?T=A:;<OP<\$dD:D$@?B?G<C$DC:JJ<De3$dD:D$R?G?r?$JD:8:;?$B$A:D?PVA?

>G?<8B=9=;<<e$<$A(>($U=>GOP?=$:;?;<P;?=$,L=8$;:8B:;<O$<P=;<$:BA?V

G:/$Q<A<G?B:;<=$B?8P?K;?$C<rH$B$A?P$JCET:=3$D?@9:$Q<A:A:$R?G?r?

<8B=JA;:$BJ=P$?LG:8?B:;;MP$;?J<A=COP$GEJJD?@?$O8MD:$<$>G=9JA:BCOV

=A$J?L?I$C<L?$A:D$;:8MB:=P?=$DGMC:A?=$BMG:K=;<=3$C<L?$:N?G<8P$,JP(

'0E#2=E"*4#()2.*)E02h"3&A/(

<"4=$l]$?Ln=JAB=;;:O$?Q=;D:$C<T;?JA<3$P=G:$9ER?B;MR3$J?Q<:CH;MR

D:T=JAB$C<T;?JA<3$ OBCO=AJO$B:K;=Ir<P$;=P:A=G<:CH;MP$LC:@?P$T=V

C?B=D:$;:GO9E$J$=@?$K<8;Hf3$JB?L?9?I3$89?G?BH=P($c?;OA<=$T=JA<$BDCfV

T:=A$B$J=LO$AG<$:J>=DA:\

:/$R:G:DA=G<JA<D:$J:P?I$C<T;?JA<$ ,D:T=JAB:$C<Q:/^$;G:BJAB=;;?=

9?JA?<;JAB?$T=C?B=D:3$9?LC=JAH3$T=JA;?JAH3$LC:@?G?9JAB?$9Er<$<$T<V

JA:O$J?B=JAH^

L/$?Ln=JAB=;;:O$?Q=;D:$C<T;?JA<$ ,?AG:K=;<=$D:T=JAB$C<Q:$B$?LV

n=JAB=;;?P$J?8;:;<</($c?;OA<=$T=JA<$<8;:T:CH;?$>G=9>?C:@:=A$;:V

C<T<=$>?C?K<A=CH;?I$?Q=;D<^

B/$?Ln=JAB=;;:O$?Q=;D:3$>G<;OA:O$J:P?I$C<T;?JAHf3$J>?J?L;?JAH

T=C?B=D:$?Q=;<B:AH$JB?<$>?JAE>D<3$9=IJAB?B:AH$B$;G:BJAB=;;?I$K<8V

;<$ B$ J??AB=AJAB<<$ J$ >G<;OAMP<$ B$ ?Ln=JAB=$ P?G:CH;MP<$ ;?GP:P<3

>G:B<C:P<$<$AG=L?B:;<OP<(

"<JDG=9<A:Q<O$T=C?B=D:$B$?Ln=JAB=;;?P$P;=;<<$<$=JAH$E;<K=;<=

T=JA<(

Q)b"J&DJ��$JC?B?$<C<$BMG:K=;<=3$8:P=;Ofn==$9GE@?=3$;=E9?L;?=3

D:D$JT<A:=A$@?B?GOn<I3$9CO$9:;;?I$?LJA:;?BD<$<C<$@GEL?=3$;=>G<JV

A?I;?=($ U:>G<P=G\$ @/L175D$ V/0G2E1?>CD1$ BP=JA?$ DG/F5D3$ GL>87/H(

ZBN=P<8PM$A<>:$085?75BI/H3Y8>65CC1H$,?$>G?JA<AEQ<</$J$J?9=GK:A=CHV

;?I$A?TD<$8G=;<O$P?K;?$JT<A:AH$d>G<C<T;MP<e$?JD?GLC=;<OP<(

Q'4C0"44&Al]$OGD?=$>G?OBC=;<=$TEBJAB:3$;:JAG?=;<O3$>=G=K<B:;<O^

BMG:8<A=CH;?JAH(

QJb2D2l]$WP?Q<?;:CH;?VWDJ>G=JJ<B;?=$BM9=C=;<=$T:JA<$BMJD:8MV

B:;<O$>?JG=9JAB?P$J>=Q<:CH;MR$T:JA<Q3$<;A?;:Q<<3$>?BA?G=;<O3$>?V

GO9D:$JC?B$<$A($>(

SLQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*]Q*0BXADXUJ*BMADEIL*IfBBCAZA*_[UCE*L*LXOJIXJO?IJBfIBU

SLR

1$+/0

)*6

-#4

%/)#&

+,

cG:B:O$T:JAH$JC?B:GO$]$A:3$B$D?A?G?I$?LsOJ;O=AJO$8:@?C?B?T;:O$=9<V

;<Q:($cG:B:O$T:JAH$A?CD?B?@?$JC?B:GO3$D:D$>G:B<C?3$BDCfT:=A$8?;M\

@G:PP:A<T=JD:O$R:G:DA=G<JA<D:$JC?B:3$A?CD?B:;<=3$A<>$8;:T=;<O$,>GOV

P?=3$>=G=;?J;?=/^$<CCfJAG:Q<<$,Q<A:AM3$G=T=;<O/^$JC?B??LG:8?B:A=CHV

;?=$@;=89?^$A:D$;:8MB:=P:O$d8:G?PL?B:Oe$T:JAH$,NG:8=?C?@<8PM/$<$9G(

p?;M$>G:B?I$T:JA<$G:8G:L:AMB:fAJO$9CO$D:K9?@?$JC?B:GO($[?B?DE>;?JAH

BJ=R$JC?B:G;MR$JA:A=I$?LG:8E=A$D?G>EJ$JC?B:GO($#G?P=$D?G>EJ:3$B$CfV

L?P$JC?B:G=$=JAH$>G=9<JC?B<=3$G:89=C$d#:D$>?CH8?B:AHJO$JC?B:G=Pe$,D?V

A?GMI$>?T=PEVA?$;<D=P$;=$T<A:=AJO/^$J><J?D$EJC?B;MR$J?DG:n=;<I$<$9G(

[C?B:G;:O$JA:AHO$B$A?CD?B?P$JC?B:G=$]$WA?$>?GAG=A$JC?B:($tA?LM

>G:B<CH;?$WA?A$>?GAG=A$B?J>G<;<P:AH3$;:9?$EP=AH$T<A:AH$JC?B:G;Ef

JA:AHf3$<8BC=D:O$<8$;==$BJf$8:DCfT=;;Ef$B$;=I$<;N?GP:Q<f(

cG?T<A:=P$JC?B:G;Ef$JA:AHf$ d]7-M$ B$du?CD?B?P$JC?B:G=$GEJV

JD?@?$O8MD:e$>?9$G=9($"($U($!r:D?B:(

d]7-�M.$:$,E/3$8@*>,$,P;($B$8;:T($G:8;MR$B<9?B3$J?GA?B/($cG?V

9EDA$AGE9:3$<P=fn<I$JA?<P?JAH$<$G:J>G=9=COfn<IJO$B$?Ln=V

JAB=$>EA=P$DE>C<V>G?9:K<$,WD?;?P(/^$B??Ln=$BJ=3$TA?$OBCO=AJO

>G=9P=A?P$A?G@?BC<($!/0>S37/@>75QS3Y>7HDJS3ED>3D>?/8A3Y8>1VN

?>0HDCH3?3Y>CF507523CE5D537530FH3Y8>1V?>0CD?/S3/30FH3Y>D85LF5N

71H$,[A:C<;/($'>B3@>8/LFJS3CD>HZ1B37/3H@>853?3V/F1?5S3Y>F>73850N

@1P3D>?/8>?$,5ED?BJD<I/($&8/C7AB3D($,JP($DG:J;MI/($b$2/=/V1N

7/P3 27>=>3 D>?/8G"3 u>0@1B3 D"3 k5[/FAB3 D"3 &>F>71/FJ7AB3 D"$ I,

,A?CHD?$=9(/($bM9=C:;;:O$@?A?B:O$D?K:$,C/Y>["/($X>?ID?BMI$A(

O,$ ,A?CHD?$=9(/($SE9;:O$JP=JH3$@?A?B:O$9CO$>G?>C:BD<$,=>87"b"$◊8&)(5*=()20($[P($K<B?I$B$1$8;:T($d()20*#&K(J*C('2D2=$$]$>?D:V

8:AH$TA?V;<LE9H$J$CETr=I3$;:<L?C==$BM@?9;?I$JA?G?;M($ ,05D

1V3O5D58LG8=/385?1V>8"""3-FAI7>3LAF>S3ED>3?C53D8GCHDS3PF>Y>N

EGDS3P>DHD3D>?/83F1Q>23Y>@/V/DJ$,"?JA?=BJD<I/(

_$A=>=GH$=n=$G:83$:;:C<8<GEO$D:K9Ef$8?;E$JC?B:G;?I$JA:AH<(

d]7-�M.$]$8:@C:B;?=$JC?B?

2*_L`$]$@G:PP:A<T=JD:O$8?;:\$ED:8:;<=$?D?;T:;<O$B$G?9($>($=9($T(3$B

JD?LD:R$9:;$B:G<:;A$?D?;T:;<O^

8@$ ]$ @G:PP:A<T=JD:O$ 8?;:\$ED:8:;<=$G?9?B?I$?A;=J=;;?JA<$JC?B:3

?;?$PEKJD?@?$G?9:

>,$]$;?P=G$8;:T=;<O$P;?@?8;:T;?@?$JC?B:$,E$?9;?8;:T;MR$JC?B$;?V

P=G$;=$ED:8MB:=AJO/^

_J3,*)*D32%,*02D3EF*)&;().*4(0=()`$]$@G:PP:A<T=JD:O$8?;:$>=GB?@?

8;:T=;<O\$ED:8:;?3$TA?$B?$P;($T($WA?$8;:T=;<=$JC?B:$<P==A$;=$8;:T=;<=

P;?K=JAB=;;?JA<$,TA?$JB?IJAB=;;?$@G:PP:A<T=JD?PE$8;:T=;<f$P;?V

K=JAB=;;?@?$T<JC:/3$:$8;:T=;<=$dG:8;M=$B<9M3$J?GA:e^

9GE@?I$O8MD$,XK=@?B$[($7($<$�B=9?B:$U($`($u?CD?BMI$JC?B:GH$GEJV

JD?@?$O8MD:/(

R#()20$$ ]$ J?LG:;<=$JC?B$D:D?@?VC<L?$O8MD:$:8LET;MP$>?GO9D?P

<C<$>?$JC?B?>G?<8B?9JABE$G:J>?C?K=;;MR$ ,[C?B:GH$_D:9=P<<$S?JV

J<IJD?I($[cL(3$-*21]-*++/(

R#()20$$]$D;<@:3$J?9=GK:n:O$>=G=T=;H$JC?B3$?LMT;?$J$>?OJ;=;<OV

P<3$A?CD?B:;<OP<$<C<$>=G=B?9?P$;:$9GE@?I$O8MD($,[C?B:GH$J?BG=P=;V

;?@?$GEJJD?@?$C<A=G:AEG;?@?$O8MD:\$B$-'$A(/

R#()20$$ ]$ D;<@:3$ J?9=GK:n:O$ >=G=T=;H$ JC?B3$ G:J>?C?K=;;MR$ >?

A?PE$<C<$<;?PE$>G<;Q<>E$,;:>G<P=G$>?$:CN:B<AE/3$J$A=P<$<C<$<;MP<

?LsOJ;=;<OP<$,u?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:\$b$&$A($�$c?9$G=9($"(

U($!r:D?B:/(

[En=JABE=A$;=JD?CHD?$DC:JJ<N<D:Q<I$,A<>?C?@<I/$JC?B:G=I($du<>

CfL?@?$JC?B:GO$?>G=9=CO=AJO$N:DA?G:P<$9B?OD?@?$G?9:\$R:G:DA=G?P

?AG:K:=P?@?$C=DJ<T=JD?@?$P:A=G<:C:$<$>G:DA<T=JD<P$8;:T=;<=Pe$,Z(

b($#E8;=Q?B:($cG=9<JC?B<=$��$Y=DJ<D?VJ=P:;A<T=JD<=$@GE>>M$GEJJD<R

@C:@?C?B($[B=G9C?BJD3$-)**3$J($%/($,X$DC:JJ<N<D:Q<OR$<$A<>?C?@<<$JC?V

B:G=I$JP(3$;:>G<P=G\$b($b($"EL<T<;JD<I($u=?G=A<T=JD:O$<$>G:DA<T=JV

D:O$C=DJ<D?@G:N<O($b=;:$]$#G:D?B3$-))*/(

[C?B:G<$>G<;OA?$9=C<AH$;:$9B:$A<>:\$B3K&'#(C";&%"4'&"*&*#&3@)&N

4=&%"4'&"(

Q3K&'#(C";&%"4'&"$ ,?A$@G=T($}�£ £~�w{$y��|}��$]$?LET=;<=$>?$BJ=PE

DGE@E$8;:;<I/$JC?B:G<$J?9=GK:A$WDJAG:C<;@B<JA<T=JDEf$<;N?GP:Q<f

?L$?><JMB:=PMR$O8MD?BMR$=9<;<Q:R^$WA<$JC?B:G<$J?9=GK:A$JB=9=;<O$?

;:ET;MR$>?;OA<OR3$A=GP<;:R3$<JA?G<T=JD<R$J?LMA<OR3$>=GJ?;:C<OR3$@=?V

@G:N<<$<$A(>($b$W;Q<DC?>=9<T=JD?P$JC?B:G=$;=A$@G:PP:A<T=JD<R$JB=9=V

;<I$?$JC?B=3$:$9:oAJO$<;N?GP:Q<O$?$>G=9P=A=3$?L?8;:T:=P?P$JC?B?P(

XLs=DA$?><J:;<O$ #&3@)&4=&%"4'&F* ,O8MD?BMR/$ JC?B:G=I$]$O8MD?V

BM=$=9<;<QM$,JC?B:3$JC?B?N?GPM3$P?GN=PM/($b$A:D?P$JC?B:G=$JC?B?

,JC?B?N?GP:3$P?GN=P:/$P?K=A$LMAH$?R:G:DA=G<8?B:;?$J$G:8;MR$JA?V

G?;3$B$8:B<J<P?JA<$?A$Q=C=I3$?LsoP:$<$8:9:T$JC?B:GO\$J?$JA?G?;M$JPMJV

C?B?@?$J?9=GK:;<O3$ JC?B??LG:8?B:;<O3$?GN?@G:N<<3$?GN?W><<3$>G:V

B<CH;?JA<$E>?AG=LC=;<O($b$8:B<J<P?JA<$?A$A?@?3$JD?CHD?$>G<8;:D?B

JC?B:$?><J:;M$B$JC?B:G=3$G:8C<T:fA$JC?B:G<$?9;?:J>=DA;M=$<$P;?@?V

:J>=DA;M=(

YfL?I$JC?B:GH$J?JA?<A$<8$JC?B:G;MR$JA:A=I($R#()2032A*4=2=$A$]

?J;?B;:O$JAGEDAEG;:O$=9<;<Q:$JC?B:GO^$A=DJA3$G:8sOJ;Ofn<I$8:@?C?V

B?T;Ef$=9<;<QE$B$JC?B:G=$<$?><JMB:fn<I$==$?J;?B;M=$R:G:DA=G<JV

A<D<($[AGEDAEG:$JC?B:G;?I$JA:AH<$?>G=9=CO=AJO$8:9:T:P<$JC?B:GO($U?

JC?B:G;:O$JA:AHO$CfL?@?$JC?B:GO$;:T<;:=AJO$J$8:@C:B;?@?$JC?B:$®>?V

<;?PE\$ 8:@?C?B?T;?=$ JC?B?3$ C=PP:3$ T=G;?=$ JC?B?$ ,?A$ >?CEK<G;?@?

rG<NA:3$D?A?GMP$?LMT;?$BM9=C=;?$8:@C:B;?=$JC?B?/¯($[?B?DE>;?JAH

8:@C:B;MR$JA:A=I$?LG:8EfA$JC?B;<D3$<C<$C=BEf$T:JAH$JC?B:GO(

SMT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*]Q*0BXADXUJ*BMADEIL*IfBBCAZA*_[UCE*L*LXOJIXJO?IJBfIBU

SMS

1$+/0

)*6

-#4

%/)#&

+,

dBR?9e3$JB?<$T=G;M=$JC?B:3$?;<$,;=JP?AGO$;:$A?3$TA?$<R$;=$P=;Hr=$9BER/

>G=9JA:BCOfA$?9;E$C=DJ<T=JDEf$=9<;<QE(

8&)(5*=()20$]$8:@?C?B?T;?=$JC?B?$8:G?PL?B?I$T:JA<

RJ,*h&)(5*)*\*D32%,$]$A?CD?B:;<=V?AJMCD:3$T<A:A=CH$9?CK=;$?LG:V

A<AHJO$B$JC?BE$[1?>B$B$1$8;:T=;<<3$@9=$<$LE9=A$9:;?$A?CD?B:;<=$NG:8=V

?C?@<8P:$[1?>B3D>?/8($m?G?r?$LM$LMC?$>?BA?GOAH$A?CD?B:;<=3$:$;=

?AJMC:AH3$;?$=JC<$ET=JAH3$TA?$B?$BG=P=;:$!r:D?B:$JC?B:G<$BJ=@9:$LMC<

A?CHD?$>=T:A;MP<3$A?$JG:8E$?T=B<9;?3$TA?$?AJMCD<$]$WD?;?P<O$LEP:@<(

d()20*#&K(J*C('2D2=$$]$8:@?C?B?T;?=$JC?B?$8:G?PL?B?I$T:JA<(

:('2D2=$*%=(N3&1L;$*4*#L%a"5.*32&1(#""*)E@(;3(5*4=(0(3E$]$A?CV

D?B:;<=$NG:8=?C?@<8P:(

A'-*(+D(I-*-"G4"%$("-0+D#"@@@(J62K&#(G26#1(,*#(0.-(*"4.7*1(/6#:

!#,4*1(/#*7*(*#0$"(6+=#8(!#)$D$*9$]$8?;:$<CCfJAG:Q<<\$B$D:T=JAB=

>G<P=G:$>G<B=9=;:$Q<A:A:(

c(4=(")4'&5$]$8?;:$<CCfJAG:Q<<\$ED:8:;$:BA?G$Q<A:AM(

�JC<$9:AH$WAE$<;N?GP:Q<f$B$<;?P$B<9=3$A?$P?K=A$>?CET<AHJO$JA:V

AHO3$;?$;=$JC?B:G;:O($_$JC?B:G;:O$A=P$<$R?G?r:$,D?;=T;?3$B$R?G?r=P

JC?B:G=/3$TA?$9?JAE>;:$CfL?PE$>G?JB=n=;;?PE$T<A:A=Cf3$CfL?>MAV

;?PE$;?J<A=Cf$O8MD:(

P"h" *?DEBAc6ZF?FWF@U6N>H?FCF@@\]6E>GB>H\]NG>HD?Fc6jN6D@@>EDfAXCAk

P"h"S" $D[>H\F6NG>HD?A

�*d(#'()E5*4#()20$*0L44'(@(*ADE'2*4*)'#g%"3&"J*4)";"3&5*(*C0(N

&4F(h;"3&&*4#()$ �$S_U($7;JA<AEA$GEJJD?@?$O8MD:$<P(b(b(b<;?@G:9?B:(

XAB($G=9($:D:9($S_U$U(`($�B=9?B:($]$a(\$7�$d_8LED?B;<De3$+22'($]

--'6$J($ghij$)'*V6V)--'+V2--V1(

789:;<=$ >G=9JA:BCO=A$ J?L?f$ ;?B?=$ >G?<8B=9=;<=$ <$ ;?BMI$ K:;G

JC?B:GO\$DG?P=$A?@?3$TA?$WA?A$JC?B:GH$>?JC=9?B:A=CH;?$?AG:K:=A$J?V

JA?O;<=$ J?BG=P=;;?@?$ GEJJD?@?$ O8MD:$ B$ =@?$ ?Ln=P$ E>?AG=LC=;<<$ <

9B<K=;<O$B$=@?$C=DJ<T=JD?P$J?JA:B=3$=@?$L?@:AEf$NG:8=?C?@<f$<$<9<V

?P:A<DE3$?;$J?9=GK<A$JB=9=;<O$?$>G?<JR?K9=;<<$JC?B$<$?L$<R$J??AV

B=AJAB<OR$B$9GE@<R$O8MD:R3$B$?T=;H$P;?@<R$JCET:OR$9?>?C;Ofn<=$?JV

;?B;?I$J?JA:B$ JC?B:G;?I$JA:AH<($u:D<P$?LG:8?P3$ WA?A$ JC?B:GH3$>?V

JAG?=;;MI$;:$?Ln=E>?AG=L<A=CH;?I$GEJJD?I$C=DJ<D=$>?JC=9;<R$AG=R

JA?C=A<I3$>?$JB?=PE$K:;GE$OBCO=AJO$A?CD?B?VWA<P?C?@<T=JD<P($[C?V

B:GH$:9G=J?B:;$r<G?D?PE$DGE@E$T<A:A=C=I$]$D:D$J>=Q<:C<JA:PVN<C?V

C?@:P3$A:D$<$;=J>=Q<:C<JA:P($[C?B:GH$J?9=GK<A$*+$222$JC?B$<$NG:8=?V

C?@<T=JD<R$BMG:K=;<I$,JT<A:O$8:@?C?B?T;M=$JC?B:3$>G?<8B?9;M=$JC?V

:0(;L'=*=0L;2.*&J"gH&5*4=(&J(4=$*&*024C0";"#AgH&54A*)*(1H"N

4=)"*CL="J*'LC#&NC0(;2h&$]$A?CD?B:;<=$>=GB?@?$8;:T=;<O^

LE)#&#8@M$]$JA<C<JA<T=JD:O$8?;:\$ED:8:;<=$;:$?@G:;<T=;;?JAH$WA?V

@?$8;:T=;<O$J>=Q<:CH;?I$C=DJ<D?I3$:$<P=;;?$WD?;?P<T=JD?I

)((1H"*)4".*%=(*A)#A"=4A*C0";J"=(J*=(0@()#&$]$BA?G:O$T:JAH$A?CD?V

B:;<O$>=GB?@?$8;:T=;<O3$8;:D^$>=G=9$WA?I$T:JAHf$A?CD?B:;<O$ED:8MB:V

=A$;:$A?3$TA?$?;?$>?A=;Q<:CH;?$P?K=A$LMAH$BM9=C=;?$B$?A9=CH;?=$8;:V

T=;<=^

B$'#1(&$)#&-=1(!#&7*91(,*#(*#0$"2(!"#+D0#'7*.7(0(!#.6-'&-8(.,-:

*-(&-('67(!"#+D0#'.*0$1($('67(!#*"-G6-&+7$]$8?;:$<CCfJAG:Q<<\$B$D:V

T=JAB=$>G<P=G:$9:;:$Q<A:A:

R=2#&3$]$8?;:$<CCfJAG:Q<<\$ED:8:;<=$:BA?G:$Q<A:AM

5#;( )#"$G691( .*#73+;( &$( 7)#"-( 0( D$6+0-1( !#6#&( "-')+/( A?B:G?B$]

8?;:$<CCfJAG:Q<<\$B$D:T=JAB=$>G<P=G:$9:;:$Q<A:A:

8L'()4'&5$]$8?;:$<CCfJAG:Q<<\$ED:8:;<=$:BA?G:$Q<A:AM

N"$.&2;(*@$]$8?;:$<CCfJAG:Q<<\$B$D:T=JAB=$>G<P=G:$9:;?$G=T=;<=$]

EJA?IT<B?=$BMG:K=;<=(

_4J,*'0243E5`$]$8?;:$?AJMCD<\$J$>?P?nHf$WA?I$8?;M$EJA:;:BC<B:V

=AJO$JBO8H$P=K9E$WC=P=;A:P<$JC?B:GO\$T<A:A=CO$?AJMC:fA$D$JC?B:G;?I

JA:AH=$DG:J;MI3$B$D?A?G?I$9:;?$A?CD?B:;<=$NG:8=?C?@<8P:$ @8/C7AB

D>?/8^

O(8$%$D+&$/(8&#%#(*#0$"4$]$8?;:$<CCfJAG:Q<<\$B$D:T=JAB=$>G<P=G:

9:;?$G=T=;<=(

P#')+;(*@(Q-C$62;(*@(N#6#&+$69&2;(*@$]$8?;:$<CCfJAG:Q<<\$B$D:V

T=JAB=$>G<P=G?B$9:;M$G=T=;<O3$?LG:A<A=$B;<P:;<=$;:$>?JC=9;<I$>G<V

P=G$]$J=@?9;O$=@?$JC=9?B:C?$LM$9:AH$B$8:G?PL?B?I$T:JA<$<C<$J$>?9A?CV

D?BD?I3$A:D$D:D$WA?$<JA?G<8P^

I,$]$;?P=G$8;:T=;<O$P;?@?8;:T;?@?$JC?B:^

=(#$'(*";,$]$@G:PP:A<T=JD:O$8?;:\$ED:8:;?$?@G:;<T=;<=$9CO$WA?@?

8;:T=;<O\$A?CHD?$B$=9($T(^

7E;"#2332A*@(=()2A*'(h2$]$8?;:$A?CD?B:;<O^

L.$!#C@M$ ]$ JA<C<JA<T=JD:O$ 8?;:\$ ED:8:;<=$;:$ JN=GE$?@G:;<T=;<O

E>?AG=LC=;<O

R!#;)#02;(*@$]$ 8?;:$<CCfJAG:Q<<\$B$D:T=JAB=$<CCfJAG:Q<<$9:;?

G=T=;<=(

O,$]$;?P=G$8;:T=;<O$P;?@?8;:T;?@?$JC?B:(

=(#$'(*";,$]$@G:PP:A<T=JD:O$8?;:\$ED:8:;?$?@G:;<T=;<=$9CO$WA?@?

8;:T=;<O\$A?CHD?$B$=9($T(

ML;32A*4J"4$.*@(=()2A*;#A*C0(C#2)'&$]$A?CD?B:;<=

L%#"&@M$]$JA<C<JA<T=JD:O$8?;:\$ED:8:;<=$;:$JN=GE$?@G:;<T=;<O$E>?AV

G=LC=;<O(

◊ p;:D$G?PL:3$>?JC=$D?A?G?@?$;:T<;:=AJO$d8:G?PL?B:O$T:JAHe3$@9=

>G=9JA:BC=;M$NG:8=?C?@<8PM($#:K9MI$NG:8=?C?@<8P$A?K=$<P==A$JB?I

SMh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*]Q*0BXADXUJ*BMADEIL*IfBBCAZA*_[UCE*L*LXOJIXJO?IJBfIBU

SMI

1$+/0

)*6

-#4

%/)#&

+,

[C?B:GH$OBCO=AJO$>?>ECOG;MP3$?Ln=9?JAE>;MP$<89:;<=P3$G:JJT<V

A:;;MP$;:$J:PMI$r<G?D<I$DGE@$T<A:A=C=I(

d0?CHr?I$A?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:e$ ,0u[/$B$<8B=JA;?I

JA=>=;<$P?K;?$;:8B:AH$>G==P;<D?P$9BER$?J;?B;MR$:D:9=P<T=JD<R$JC?V

B:G=I3$<89:;;MR$B$[[[S($7P==AJO$B$B<9E$a:CMI$:D:9=P<T=JD<I$JC?V

B:GH$,A:D$>G<;OA?$;:8MB:AH$T=AMG=RA?P;MI$d[C?B:GH$GEJJD?@?$O8MV

D:e3$<89:;;MI$B$-)6']1-$@@($<$>=G=<89:;;MI$B$<J>G:BC=;;?P$<$9?>?CV

;=;;?P$B<9=$B$-)*-]*&$@@($>?9$G=9($_(c($�B@=;H=B?I/3$<$0?CHr?I$:D:V

9=P<T=JD<I$JC?B:GH$,J=P;:9Q:A<A?P;MI$d[C?B:GH$J?BG=P=;;?@?$GEJV

JD?@?$C<A=G:AEG;?@?$O8MD:e$<89:;<O$-)&*]16$@@(^$BA?G?=$=@?$<89:;<=

>G=9>?C:@:=A$EK=$+2$A?P?B3$?9<;;:9Q:AH$<8$;<R$BMrC<$B$-))-]+22*

@@(/(

cG==PJAB=;;?JAH$?LEJC?BC=;:$>G=K9=$BJ=@?$A=P3$TA?$BJ=$AG<$JC?B:V

GO$>?9@?A?BC=;M$B$?9;?P$;:ET;?P$D?CC=DA<B=($c?$?>G=9=C=;<f$@C:BV

;?@?$G=9:DA?G:$JC?B:GO$[(_(#E8;=Q?B:3$WA?$=9<;JAB=;;MI$B$P<G=$;:V

ET;MI$D?CC=DA<B3$D?A?GMI$>G?N=JJ<?;:CH;?$8:;<P:=AJO$:D:9=P<T=JV

D<P3$ A(=($ <JT=G>MB:fn<P$ C=DJ<D?@G:N<T=JD<P$ ?><J:;<=P$ GEJJD?@?

O8MD:($b$-'*)]-')&$@@($LMC?$?JEn=JABC=;?$>=GB?=$P;?@?A?P;?=$<89:V

;<=3$D?A?G?=$>?C?K<C?$;:T:C?$?A=T=JAB=;;?I$C=DJ<D?@G:N<<3$]$d[C?V

B:GH$_D:9=P<<$S?JJ<IJD?I3$>G?<8B?9;MP$>?GO9D?P$G:J>?C?K=;;MIe(

[$A=R$>?G$L?C==$+22$C=A3$>=G=;<P:O$K<B?I$>G?N=JJ<?;:CH;MI$?>MA3

J;:T:C:$B$JA=;:R$_D:9=P<<$S?JJ<IJD?I3$8:A=P$>?JC=9?B:A=CH;?$B$7PV

>=G:A?GJD?I$_D:9=P<<$;:ED$]$ gg$XA9=C=;<<$7P>=G:A?GJD?I$_D:9=V

P<<$;:ED$,?A9=C=;<=$GEJJD?@?$O8MD:$<$JC?B=J;?JA</$]$_U$[[[S$]$S_U

JEn=JABE=A$;:ET;?=$>?9G:89=C=;<=3$ 8:;<P:fn==JO$NE;9:P=;A:CH;MV

P<$<JJC=9?B:;<OP<$B$?LC:JA<$GEJJD?I$C=DJ<D<(

bJ=$AG<$JC?B:GO$L:8<GEfAJO$;:$P:A=G<:C:R$?9;?I$<$A?I$K=$D:GA?V

A=D<($cG<;Q<>M3$C=K:n<=$B$?J;?B=$ JC?B:G;?@?$?><J:;<O$C=DJ<D<$B

0u[$,D:D$JD:8:;?$B?$BJAE><A=CH;?I$JA:AH=/3$>?C;?JAHf$J?@C:JEfAJO$J

>G<;Q<>:P<$a:C?@?$,a_[/$<$0?CHr?@?$,0_[/$:D:9=P<T=JD<R$JC?B:V

G=I$<$ J$ AG:9<Q<OP<$:D:9=P<T=JD?I$C=DJ<D?@G:N<<$B$Q=C?P($u=DJAM

a_[$<$0_[3$B8:<P;?$<J>?CH8?B:;;M=$>G<$<R$>=G=<89:;<<3$LMC<$r<V

G?D?$<J>?CH8?B:;M$>G<$>?9@?A?BD=$D$<89:;<f$0u[(

[D:8:;;?=$;=$?8;:T:=A3$TA?$d0?CHr?I$A?CD?BMI$JC?B:GH$GEJJD?@?

O8MD:e$C<r=;$J:P?JA?OA=CH;?JA<($[C?B;<D$0u[$OBCO=AJO$;:$J=@?9;OrV

;<I$9=;H$J:PMP$>?C;MP3$;?$>G<$WA?P$B$[C?B:G=$J?LCf9=;?$>?JC=9?V

B:A=CH;?=$<$>?9G?L;?=$?><J:;<=$GEJJD?I$C=DJ<D<3$==$8;:T=;<I3$9:;:

P?GN?C?@<T=JD:O3$ JA<C<JA<T=JD:O$<$ J<;A:DJ<T=JD:O$R:G:DA=G<JA<D:

JC?B($0u[$BP=JA=$J$a_[$<$0_[$J?JA:BCO=A$C?@<T=JD<$>?C;Ef$AG<:9E

JC?B:G=I\$P;?@?A?P;MI$]$T=AMG=RA?P;MI$]$?9;?A?P;MI($Y:D?;<8P

?9;?A?P;?@?$<89:;<O$>?LE9<C$<JD:AH$?G<@<;:CH;M=$J>?J?LM$>?9G?LV

;?@?$C=DJ<D?@G:N<T=JD?@?$?><J:;<O($S=8ECHA:AM$WA<R$>?<JD?B$B?>V

C?n=;M$B$d0?CHr?P$A?CD?B?P$JC?B:G=$GEJJD?@?$O8MD:e(

B:3$>?P=n=;;M=$B$JC?B??LG:8?B:A=CH;?P$@;=89=3$<$NG:8=?C?@<T=JD<=

BMG:K=;<O$<$<9<?PM/3$ :$ A:DK=3$ B$D:T=JAB=$9?>?C;=;<I$D$?J;?B;MP

JA:AHOP3$?D?C?$-6$222$<JA?G<T=JD<R$<$WA<P?C?@<T=JD<R$J>G:B?D3$>?V

P=n=;;MR$8:$8;:D?P$•$BJC=9$8:$?J;?B;MP$J?JA:B?P$JA:AH<(

�*R,*9,*]h"@()*&*i,*+,*|)";()2,*d(#'()E5*4#()20$*0L44'(@(*ADEN

'2G**2l222$JC?B$<$NG:8=?C?@<T=JD<R$BMG:K=;<I�$S?JJ<IJD:O$:D:9=P<O

;:ED($7;JA<AEA$GEJJD?@?$O8MD:$<P(b(b(b<;?@G:9?B:($]$&V=$<89(3$9?>?CV

;=;;?=($]$a(\$XXX$d7u7$u=R;?C?@<<e3$+22*($]$)&&$J($ghij$)'*V6V)2+1%*V

-+V&3$)'*V6V)2&%&%V2-V)3$)'*V6V))22%6*V-V+(

X9;?A?P;MI$A?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:$ J?9=GK<A$*2$222

JC?B$<$NG:8=?C?@<T=JD<R$BMG:K=;<I$,JT<A:O$8:@?C?B?T;M=$JC?B:3$>G?V

<8B?9;M=$JC?B:3$>?P=n=;;M=$B$JC?B??LG:8?B:A=CH;?P$@;=89=3$<$NG:V

8=?C?@<T=JD<=$BMG:K=;<O$<$<9<?PM3$JC=9Efn<=$8:$8;:D?P$�/($[C?B:

<$NG:8=?C?@<8PM3$ 8:DCfT=;;M=$B$ JC?B:G=3$?A;?JOAJO$D$?Ln=C<A=G:V

AEG;?I$GEJJD?I$C=DJ<D=3$:$A:DK=$D$B8:<P?9=IJABEfn<P$J$;=I$J>=Q<V

:CH;MP$JN=G:P$O8MD:\$B$JC?B:G=$r<G?D?$>G=9JA:BC=;:$A:DK=$>G?JA?V

G=T;:O$C=DJ<D:3$E>?AG=L<A=CH;:O$B$D;<K;?I$<$G:8@?B?G;?I$G=T<($[C?V

B:G;:O$JA:AHO$BDCfT:=A$A?CD?B:;<=$8;:T=;<O3$R:G:DA=G<JA<DE$JAG?=V

;<O$P;?@?8;:T;?@?$JC?B:3$>G<P=GM$E>?AG=LC=;<O3$JB=9=;<O$?$J?T=A:V

=P?JA<$JC?B:3$ @G:PP:A<T=JD<=$<$:DQ=;A?C?@<T=JD<=$ ,B$;=?LR?9<PMR

JCET:OR$A:DK=$?GN?W><T=JD<=/$R:G:DA=G<JA<D<$JC?B:($[C?B:G;:O$JA:V

AHO$J?>G?B?K9:=AJO$?><J:;<=P$A=R$NG:8=?C?@<T=JD<R$BMG:K=;<I3$D?V

A?GM=$ >?G?K9=;M$ WA<P$ JC?B?P$ C<L?$ A:D$ <C<$ <;:T=$ J$ ;<P$ JBO8:;M(

#;<@:$?LG:n=;:$D$r<G?D<P$DGE@:P$T<A:A=C=I\$=f$P?@EA$>?CH8?B:AHV

JO$D:D$>G<JAE>:fn<=$D$<8ET=;<f$GEJJD?@?$O8MD:3$A:D$<$A=3$DA?$R?G?V

r?$<P$BC:9==A$<$?LG:n:=AJO$D$JC?B:Gf$9CO$EA?T;=;<O$<C<$>?>?C;=V

;<O$JB?<R$8;:;<I(

�* !(#$a(5* =(#'()E5* 4#()20$* 0L44'(@(* ADE'2$ �$ [?JA$ <$ @C($ G=9(

[(_(#E8;=Q?B($]$[cL(\$dU?G<;Ae3$-))*($]$-6%1$J($ghij$6V''--V22-6V%

d0?CHr?I$A?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:e$OBCO=AJO$E;<B=GJ:CHV

;MP$J>G:B?T;<D?P$>?$J?BG=P=;;?PE$GEJJD?PE$O8MDE($b$;=P$EJ>=r;?

J?=9<;=;:$ :D:9=P<T=JD:O$ >?C;?A:$ ?><J:;<O$ C=DJ<D<$ J$ C:D?;<T;?I

N?GP?I$ ?9;?A?P;?@?$ <89:;<O($ [C?B:GH$ BDCfT:=A$ ?D?C?$ -%2$ AMJOT

JC?B3$B$A?P$T<JC=$<$A=3$TA?$B?rC<$B$GEJJD<I$C<A=G:AEG;MI$O8MD$B$A=T=V

;<=$>?JC=9;=@?$9=JOA<C=A<O($#G?P=$?Ln=E>?AG=L<A=CH;MR$JC?B3$B$JC?V

B:G=$>G<B=9=;M$?J;?B;M=$A=GP<;M3$<J>?CH8E=PM=$B$J?BG=P=;;?I$;:V

ED=$<$A=R;<D=3$:$A:DK=$JC?B:3$?L?8;:T:fn<=$OBC=;<O$<$G=:C<<$>G?<8V

B?9JAB=;;?I3$DECHAEG;?I$<$?Ln=JAB=;;?I$K<8;<($U?BMP$9CO$A?CD?V

BMR$JC?B:G=I$OBCO=AJO$BDCfT=;<=$B$;=D?A?GM=$JA:AH<$W;Q<DC?>=9<V

T=JD<R$J>G:B?D(

SML

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*]Q*0BXADXUJ*BMADEIL*IfBBCAZA*_[UCE*L*LXOJIXJO?IJBfIBU

SMM

1$+/0

)*6

-#4

%/)#&

+,

JB=9=;<O$<$A(9($cG=9;:8;:T=;$J:P?PE$r<G?D?PE$DGE@E$T<A:A=C=I\$N<V

C?C?@:P3$ ><J:A=COP3$ KEG;:C<JA:P3$ >G=>?9:B:A=COP$ GEJJD?@?$ O8MD:3

JAE9=;A:P$ <$ :J><G:;A:P$ N<C?C?@<T=JD<R$ N:DECHA=A?B3$ B$ A?P$ T<JC=

<;?JAG:;Q:P3$:$A:DK=$>?C<A<T=JD<P$<$?Ln=JAB=;;MP$9=OA=COP3$V$BJ=P3

D?PE$<;A=G=J;M$>EA<$G:8B<A<O$GEJJD?@?$O8MD:(

�*?,:,V2=#&34'2A,*d(#'()E5*4#()20$*3()EF*4#()*&*D32%"3&5*0L44'(N

@(*ADE'2G*?D($+222$JC?B*l*Y(c(#:AC<;JD:O(*]$a(\$_[u\$_JAG=CH3$+22*($]

%2*$J($ghij$)'*V6V-'V26-+&2V)^$)'*V6V+'-V-))-'V+(

[?9=GK<A$?D?C?$+222$JC?B$<$JC?B?J?T=A:;<I3$8:<PJAB?B:;;MR$<8

9GE@<R$ O8MD?B$ <$ :DA<B;?$ <J>?CH8Efn<RJO$ B$ >ELC<T;?I3$ 9=C?B?I$ <

G:8@?B?G;?I$G=T<$>?JC=9;<R$C=A($#:K9?=$JC?B?$J;:LK=;?$E9:G=;<=P3

<P==A$A?CD?B:;<=3$;:L?G$@G:PP:A<T=JD<R$N?GP3$>?P?@:fn<R$>G:B<CHV

;?$E>?AG=L<AH$JC?B?$B$G=T<3$:$B$GO9=$JCET:=B$<$JA<C<JA<T=JDEf$R:G:DV

A=G<JA<DE($cG<P=GM$<8$>ELC<Q<JA<T=JD?I$C<A=G:AEGM3$A=C=V$<$G:9<?V

>=G=9:T$<CCfJAG<GEfA$E>?AG=LC=;<=$<;?O8MT;?@?$JC?B:($[C?B:GH$;=

A?CHD?$N<DJ<GE=A$8:<PJAB?B:;;M=$JC?B:$<$?LsOJ;O=A$<R$8;:T=;<O3$;?

<$?AP=T:=A$;=EP=JA;?=$<J>?CH8?B:;<=$<;?O8MT;MR$JC?B3$>G=9C:@:O$B8:V

P=;$GEJJD<I$WDB<B:C=;A($[C?B:GH$:9G=J?B:;$J:P?PE$r<G?D?PE$DGE@E

T<A:A=C=I(

�*?,:,V0E4&3,*d(#'()E5*4#()20$*&3(ADE%3EF*4#(),**]$a(\$789VB?

ZDJP?3$+22'($]$)&&$J($]$,0<LC<?A=D:$JC?B:G=I/($ghij$)'*V6V1))V-16'6V)3

6V1))V-16'6V&(

b$JC?B:G=$J?9=GK<AJO$JBMr=$+6$222$JC?B$<$JC?B?J?T=A:;<I3$B?r=9V

r<R$B$GEJJD<I$O8MD$@C:B;MP$?LG:8?P$B$��ggg]��$<$;:T:C=$��g$B(3$:

A:DK=$?LG:8?B:;;MR$B$GEJJD?P$O8MD=$?A$<;?O8MT;MR$?J;?B($b$D:K9?I

JC?B:G;?I$JA:AH=$9:=AJO$>?9G?L;:O$<;N?GP:Q<O$?$>G?<JR?K9=;<<$8:V

<PJAB?B:;;?@?$JC?B:3$=@?$8;:T=;<<3$>G:B<CH;?P$;:><J:;<<$<$>G?<8;?V

r=;<<3$:$A:DK=$?L$EJC?B<OR$=@?$E>?AG=LC=;<O$B$G=T<($b$JC?B:GH$BDCfT=V

;?$8;:T<A=CH;?=$T<JC?$;?B=Ir<R$A=GP<;?B3$?A;?JOn<RJO$D$BMT<JC<V

A=CH;?I$A=R;<D=3$P=9<Q<;=3$J>?GAE3$PE8MD=$<$9GE@<P$JN=G:P$T=C?B=T=JV

D?I$9=OA=CH;?JA<($XJ?L?=$B;<P:;<=$E9=C=;?$?><J:;<f$JC?B3$D?A?GM=

?L?8;:T:fA$DECHAEG;M=3$<JA?G<T=JD<=3$G=C<@<?8;M=$>?;OA<O($[C?B:GH

G:JJT<A:;$;:$J:PMI$r<G?D<I$DGE@$T<A:A=C=I3$<;A=G=JEfn<RJO$>G:B<CHV

;MP$E>?AG=LC=;<=P$8:<PJAB?B:;;?I$C=DJ<D<$B$GEJJD?P$O8MD=(

�*?,:,V0E4&3,*>TTT*3()EF*&3(4=0233EF*4#(),**]$a(\$_[uVcS�[[

#U74_3$+22)($]$)&&$J($]$,a:CM=$;:JA?CH;M=$JC?B:G<$GEJJD?@?$O8MD:/(

ghij$)'*V6V&1+V22)+6V)(

b$WA?I$D;<@=$J?LG:;M$;:<L?C==$E>?AG=L<A=CH;M=$<;?O8MT;M=$JC?V

B:3$8:<PJAB?B:;;M=$GEJJD<P$O8MD?P$B?$BA?G?I$>?C?B<;=$��$]$;:T:C=

��g$B=D:$,L8570S3?/GE58S30[/@GV1S308/B?58S3125BFS31210[25B@58S3@F>N

]*7,7,?(C2=&3.*?,j,?(C2=&32,*d(#'()E5*4#()20$*4()0"J"33(@(*0L4N

4'(@(*ADE'2,*]$a(\$789VB?$ZDJP?3$+22*($]$)+*$J($]$,0<LC<?A=D:$JC?B:V

G=I/($ghij$6V1))V+*21'V&(

[C?B:GH$ J?9=GK<A$L?C==$%6$222$ JC?B$<$?D?C?$'2$222$EJA?IT<BMR

JC?B?J?T=A:;<I3$>G=9JA:BCOfn<R$J?L?I$:DA<B;Ef3$;:<L?C==$E>?AG=V

L<A=CH;Ef$C=DJ<DE$GEJJD?@?$O8MD:$D?;Q:$��$]$;:T:C:$��g$B=D:($[C?V

B:3$8;:T=;<O$JC?B$<$EJA?IT<BM=$JC?B?J?T=A:;<O$J;:LK=;M$A?CD?B:;<V

OP<$<$<CCfJAG:Q<OP<$B$B<9=$G=T=;<I($bJ=$8:@C:B;M=$<$>G?<8B?9;M=

JC?B:$ J?>G?B?K9:fAJO$ @G:PP:A<T=JD?I$ R:G:DA=G<JA<D?I($ [C?B:GH

:9G=J?B:;$J:P?PE$r<G?D?PE$DGE@E$T<A:A=C=I3$<;A=G=JEfn<RJO$ 8;:V

T=;<OP<$<$>G:B<CH;MP$E>?AG=LC=;<=P$JC?B$ J?BG=P=;;?@?$GEJJD?@?

O8MD:3$:$A:DK=$P?K=A$LMAH$<J>?CH8?B:;$B$>G?Q=JJ=$?LET=;<O(

P"h"h" 5>Z>G@AEFGU@\F6NG>HD?AFH

�*d(#'()E5*4#()20$*0L44'(@(*ADE'2*32%2#2*���*)"'2,*-'=L2#$32A*#"'N

4&'2*l*C(;*0";,*/,i,R'#A0")4'(5,*]$a(\$789VB?$ZDJP?3$+221($]$--%1$J($]

,0<LC<?A=D:$JC?B:G=I/($ghij$6V1))V-6)-%V&(

b$JC?B:G=$;:rC<$?AG:K=;<=$;:<L?C==$JEn=JAB=;;M=$O8MD?BM=$>G?V

Q=JJM$ >?JC=9;<R$ @?9?B$ ��$ ]$ ;:T:C:$ ��g$ B(3$ ?D:8:Br<=$ BC<O;<=$ ;:

JA:;?BC=;<=$GEJJD?@?$O8MD:$<$JN?GP<G?B:Br<=$O8MD?B?=$J?8;:;<=$J?V

BG=P=;;<D?B(

[C?B:GH$BDCfT:=A$?D?C?$*622$JC?B$<$EJA?IT<BMR$JC?B?J?T=A:;<I3

P;?@<=$<8$D?A?GMR$B>=GBM=$>G=9JA:BC=;M$B$C=DJ<D?@G:N<<($":;:$?LV

r<G;:O$<$G:8;??LG:8;:O$<;N?GP:Q<O$?$D:K9?P$JC?B=\$ =@?$A?CD?B:V

;<=3$?J?L=;;?JA<$E>?AG=LC=;<O3$R:G:DA=G;M=$@G:PP:A<T=JD<=$<$ JA<V

C<JA<T=JD<=$JB?IJAB:3$>G?<JR?K9=;<=3$>G?<8;?r=;<=3$=@?$E>?AG=LC=V

;<=$B$EJA?IT<BMR$J?T=A:;<OR$<$<9<?P:R3$<JA?G<T=JD<=$<$DECHAEG;M=

+-$b$9:;;?P$>?9G:89=C=$PM$>G<B?9<P$>G=K9=$BJ=@?$>G<P=GM$JC?B:G=I3$N<DJ<GEfn<R

;?BEf$C=DJ<DE3$]$D:D$B?8;<DrEf$;=>?JG=9JAB=;;?$B$GEJJD?I$G=T<3$A:D$<$8:<PJAB?B:;V

;Ef($[?AGE9;<D$S?JD?P;:98?G:3$?JEn=JABCOfn<I$B$G:PD:R$9?CK;?JA;MR$?LO8:;;?JV

A=I$?Q=;DE$J>?G;?@?$A=DJA:$[a73$9?CK=;$A:DK=$>G=9JA:BCOAH3$TA?$JG=9<$J?BG=P=;;MR

C=DJ<D?@G:N<T=JD<R$<89:;<I$JEn=JABE=A$;=P:C?$JC?B:G=I3$?><JMB:fn<R$C=DJ<DE$?@V

G:;<T=;;?I3$J>=Q<N<T=JD?I$JN=GM$E>?AG=LC=;<O$]$?A3$;:>G<P=G3$rD?CH;?@?$K:GD?@?

9?$P:A=G;?I$LG:;<($[G(\$a?D<=;D?$b(a(3$U<D<A<;:$u(4($0?CHr?I$JC?B:GH$GEJJD?@?

K:G@?;:($[cL(\$U?G<;A3$+222($'+2$J(^$U<D<A<;:$u(4($a?C?9=K;MI$JC=;@\$A?CD?BMI$JC?V

B:GH($a(\$_JAG=CH\$_[u3$+22&($ )-+$ J(^$ #?C=J;<D?B$U(c(3$#?G;<C?B$�(_($c?C=$GEJJD?I

LG:;<\$ JC?B:GH$LG:;;MR$JC?B$<$BMG:K=;<I$B$GEJJD?I$C<A=G:AEG=$ ,?A$U([($0:GD?B:$<

_([($cErD<;:$9?$;:r<R$9;=I/($S?JA?BV;�"\$F=;<DJ3$-))1($%*&$J(^$�C<JAG:A?B$b([($[C?V

B:GH$GEJJD?@?$:G@?\$P:A=G<:CM$-)*2]-))2$@@($a(\$SEJJD<=$JC?B:G<3$+222($1)&$J(^$a=C<DO;

b(`($[C?B:GH\$ZP?Q<?;:CH;?VWDJ>G=JJ<B;M=$?L?G?AM$K<B?I$G=T<($a(\$FC<;A:\$U:V

ED:3$+22-($+&2$J(^$#B=J=C=B<T$"(7($u?CD?BMI$JC?B:GH$;=;?GP:A<B;?I$C=DJ<D<$GEJJD?@?

O8MD:($a(\$_JAG=CH\$_[u3$+226($$-2+-$J(^$4G:ToB$a(_($u?CD?BMI$JC?B:GH$GEJJD?@?$K:GV

@?;:($ a(\$ `Ub�[3$ +221($ '2&$ J(^$ �GP:D?B:$ X(c(3$ p=PJD:O$ �(_(3$ S?8<;:$ S(7($ [C?B:3$ J

D?A?GMP<$PM$BJ=$BJAG=T:C<JH\$A?CD?BMI$JC?B:GH$GEJJD?@?$?Ln=@?$K:G@?;:($a(\$_8LEV

D?B;<D3$-)))($%+2$J(^$<$9G(

SMO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*]Q*0BXADXUJ*BMADEIL*IfBBCAZA*_[UCE*L*LXOJIXJO?IJBfIBU

SMP

1$+/0

)*6

-#4

%/)#&

+,

JD<I$ O8MDe$ ,���,�pt��qt,pw/($ ZA?$ G=JEGJ3$ >?C;?JAHf$ >?JBOn=;;MI

GEJJD?PE$O8MDE$<$:9G=J?B:;;MI$BJ=3$DA?$=@?$8;:=A3$<8ET:=A$<$>G=>?9:V

=A($c?GA:C$LMC$?ADGMA$-&$;?OLGO$+222$@?9:($�K=9;=B;?$D$EJCE@:P$d4G:V

P?AM(SEe$>G<L=@:fA$L?C==$62$222$<;A=G;=AV>?CH8?B:A=C=I3$JG=9<$D?V

A?GMR$KEG;:C<JAM$<$G=9:DA?GM3$>G=>?9:B:A=C<$<$ET:n<=JO3$><J:A=C<

<$ >=G=B?9T<D<3$ ET=;M=$ <$ ?N<J;M=$ G:L?A;<D<($ dm?G?r=I$ G:8G:L?AV

D?I3$?T=;H$>?C=8;?I$<$>?>ECOG;?Ie$;:8B:C$B$>G=C==$+22*$@($d4G:P?AE(

SEe$>G=8<9=;A$S?JJ<<$"(_($a=9B=9=B(

U:<L?C==$B?JAG=L?B:;;MP$JG=9<$<;A=G;=AV>?CH8?B:A=C=I$J=GB<J?P

d4G:P?AM(SEe$OBCO=AJO$dcG?B=GD:$JC?B:e$]$WA?$D?CC=DQ<O$<8$9=BOA<$WC=DV

AG?;;MR$JC?B:G=I$GEJJD?@?$O8MD:($[f9:$BR?9OA$JC=9Efn<=$<89:;<O\

• ZC=DAG?;;:O$B=GJ<O$_)GCC@>=>3>86>=8/61E5C@>=>3CF>?/8H`$)>CN

C1BC@>B3/@/0521137/G@$,?AB=AJAB=;;MI$G=9:DA?G$$JC?B:GO$]$>G=9V

J=9:A=CH$XGN?@G:N<T=JD?I$D?P<JJ<<$S_U$>G?N($b(b($Y?>:A<;/(

ZA?$;:<L?C==$>?C;MI$;:$J=@?9;Or;<I$9=;H$?GN?@G:N<T=JD<I

JC?B:GH$GEJJD?@?$O8MD:3$J?9=GK:n<I$L?C==$-*2$222$JC?B:G;MR

JA:A=I$,B$A?P$T<JC=$JC?B:3$;=9:B;?$8:<PJAB?B:;;M=$GEJJD<P$O8MV

D?P\$L8570S3815FD>8S361D75CS3>7F/B7$<$A($>(/^$>G<$WA?P$G:8P=n=;V

;:O$;:$d4G:P?A=(SEe$WC=DAG?;;:O$B=GJ<O$JC?B:GO$>?C;==$>=T:AV

;?I3$>?JD?CHDE$B$;==$G=@ECOG;?$B;?J<C<JH$9?>?C;=;<O3$>G=9?JV

A:BCO=PM=$b(b($Y?>:A<;MP(

• ZC=DAG?;;:O$B=GJ<O$_*>FJI>=>3D>F@>?>=>3CF>?/8H38GCC@>=>3HVAN

@/`$,@C:B;MI$G=9:DA?G$JC?B:GO$]$9($N($;(3$>G?N($[(_(l#E8;=Q?B3

7;JA<AEA$C<;@B<JA<T=JD<R$<JJC=9?B:;<I$S_U/$]$?9;?@?$<8$CETV

r<R$J?BG=P=;;MR$?9;?A?P;MR$A?CD?BMR$JC?B:G=I(

• ZC=DAG?;;M=$B=GJ<<$JC?B:G=I$E9:G=;<I$B$<P=;:R$;:G<Q:A=CHV

;MR$,a(b($p:GBM/$<$<P=;:R$J?LJAB=;;MR$,F(Y($_@==;D?/($[C?B:V

G<$E9:G=;<I3$ J?JA:BC=;;M=$a($b($p:GB?I$<$F(Y($_@==;D?3$;=V

JD?CHD?$9=JOA<C=A<I$JT<A:fAJO$WA:C?;;MP<$J>G:B?T;<D:P<$9CO

G:L?A;<D?B$WN<G:3$9<DA?G?B$G:9<?$<$A=C=B<9=;<O3$G=TH$D?A?V

GMR$9?CK;:$LMAH$?LG:8Q?B?I(

• ZC=DAG?;;:O$B=GJ<O$ _-F>?/8H38GCC@1P3 C17>712>?313 CP>07AP3Y>

C2ACFG3 ?A8/[571B`$ U(l_LG:P?B:$ ]$ TG=8BMT:I;?$ <;A=G=J;?@?

J>G:B?T;<D:3$ J?JA:BC=;;?@?$B$;:T:C=$��$B=D:$<$OBCOfn=@?JO

;M;=$L<LC<?@G:N<T=JD?I$G=9D?JAHf(

• [?BG=P=;;MI$JC?B:GH$J<;?;<P?B3$J?JA:BC=;;MI$G=9:DQ<=I$>?GV

A:C:$;:$?J;?B=$8:>G?J?B$<;A=G;=AV>?CH8?B:A=C=I(

• ZC=DAG?;;:O$ B=GJ<O$ _-F>?/8H3 /7D>712>?3 8GCC@>=>3 HVA@/`

a(S(lYHB?B:(

• ZC=DAG?;;:O$B=GJ<O$_-F>?/8H325D>01E5C@1P3D58217>?`$Z(4(l_8<V

P?B:$<$_(U(l±ED<;:(

• ZC=DAG?;;:O$B=GJ<O$_-F>?/8H38GCC@1P3F1E7AP31257`$U(_($c=AV

G?BJD?@?(

718>?/DJS3 257D/F1D5D3 13 08"/($ b$ JC?B:G;MR$ JA:AHOR$ ED:8:;$ O8MDV<JV

A?T;<D3$9:;?$A?CD?B:;<=$8;:T=;<I$JC?B$<$P?GN=P3$?><J:;M$<R$@G:PV

P:A<T=JD<=3$>G?<8;?J<A=CH;M=$<$ JA<C<JA<T=JD<=$ JB?IJAB:^$>G<B=9=V

;M$DG:AD<=$>G<P=GM$<J>?CH8?B:;<O$JC?B$B$G=T<($[C?B:GH$G:JJT<A:;

;:$J:PMI$r<G?D<I$DGE@$T<A:A=C=I(

�*/,x,R(#@23&',*d(#'()E5*4#()20$G*xDE'*@2D"=E.*02;&(.*="#")&;"N

3&AG*?D($1222$JC?B$<$BMG:K=;<I$�$4(�([?C@:;<D(*]$a(\$XXX$d789:A=CHV

JAB?$_[ue\$XXX$d789:A=CHJAB?$_JAG=CHe3$+22'($]$'6+$J($ghij$)'*V6V

-'V2&1+&)V23$ )'*V6V+'-V-*62*V%3$ )'*V)*6V-1V&-1*V1(

b$D;<@=$r<G?D?$>G=9JA:BC=;:$C=DJ<D:$<$NG:8=?C?@<O$?A=T=JAB=;V

;?I$>ELC<Q<JA<D<($[C?B:GH$J?JA:BC=;$;:$?J;?B=$>G?<8B=9=;<I$CETV

r<R$><J:A=C=IV>ELC<Q<JA?B3$J?BG=P=;;MR$KEG;:C<JA?B3$<J>?CH8?B:V

;M$@:8=A;M=$P:A=G<:CM3$C<;@B<JA<T=JD:O$C<A=G:AEG:($[C?B:G;:O$JA:V

AHO$BDCfT:=A$A?CD?B:;<=$JC?B:3$ =@?$@G:PP:A<T=JDEf$<$JA<C<JA<T=JV

DEf$ R:G:DA=G<JA<D<3$ C=DJ<T=JDEf$ <$ J<;A:DJ<T=JDEf$ J?T=A:=P?JAH3

NG:8=?C?@<8PM($":fAJO$J<;?;<PM$<$:;A?;<PM3$:$A:DK=$>G<P=GM$;=V

G=D?P=;9E=P?@?$ E>?AG=LC=;<O$ ?A9=CH;MR$ JC?B($ #;<@:$ :9G=J?B:;:

KEG;:C<JA:P3$JAE9=;A:P3$N<C?C?@:P3$:$A:DK=$BJ=P3$<;A=G=JEfn<PJO

O8MD?P$JG=9JAB$P:JJ?B?I$<;N?GP:Q<<(

P"I"` 1Z?DH>W@>bA@o>?CDfA>@@\c6Z>?EDG.?DC>ED"/a

[$D:K9MP$@?9?P$EP=;Hr:=AJO$D?C<T=JAB?$Cf9=I3$;:R?9On<RJO$B

JA?G?;=$?A$J?BG=P=;;MR$<;N?GP:Q<?;;MR$<$D?PPE;<D:Q<?;;MR$A=RV

;?C?@<I++

($a:JJ?B?=$G:J>G?JAG:;=;<=$JG=9JAB$<;N?GP:A<8:Q<<$;M;=

D:J:=AJO$BJ=R$JN=G$9=OA=CH;?JA<$T=C?B=D:(

c=GBMP$>?9GET;MP$JG=9JAB?P$>?CET=;<O$<;N?GP:Q<<$J=@?9;O$BJ=

T:n=$JA:;?BOAJO$<;A=G;=AV<JA?T;<D<($c?<JD?BMI$8:>G?J$B$7;A=G;=A=

9CO$J?BG=P=;;?@?$T=C?B=D:$OBCO=AJO$JEn=JAB=;;MP$<JA?T;<D?P$J>G:V

B?T;?I$<;N?GP:Q<<3$8:P=;OO$<C<$9?>?C;OO$8;:D?PJAB?$J?$J>=Q<:C<V

8<G?B:;;?I$>=T:A;?I$J>G:B?T;?I$C<A=G:AEG?I($7P=O$R?G?r==$>G=9V

JA:BC=;<=$?$ J>G:B?T;?I$J?JA:BCOfn=I$7;A=G;=A:3$P?K;?$;:B?9<AH

9?JA:A?T;?$A?T;M=$J>G:BD<$B$CfL?=$BG=PO3$B$CfL?P$P=JA=3$>?$r<G?V

D?PE$DGE@E$B?>G?J?B($[D:8:;;?=$?A;?J<AJO$<$D$O8MD?BMP$8:>G?J:P

<;A=G;=AV>?CH8?B:A=C=I\$D$<R$EJCE@:P$B$7;A=G;=A=$r<G?D?$>G=9JA:BV

C=;M$WC=DAG?;;M=$JC?B:G;M=$<$J>G:B?T;M=$G=JEGJM(

Y<9=G?P$B$?JB=n=;<<$B?>G?J?B$GEJJD?@?$O8MD:$B?$bJ=P<G;?I$J=A<

P?K;?$ ;:8B:AH$ J>G:B?T;?V<;N?GP:Q<?;;MI$ <;A=G;=AV>?GA:C$ dSEJV

++$S:89=CM$*(+$<$*(%$>?9@?A?BC=;M$G=9:DA?G?PVD??G9<;:A?G?P$J>G:B?T;?V<;N?GP:Q<V

?;;?@?$>?GA:C:$4G:P?A:(SE3$D:;9<9:A?P$N<C?C?@<T=JD<R$;:ED$b(a(c:R?P?BMP(

SMQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*]Q*0BXADXUJ*BMADEIL*IfBBCAZA*_[UCE*L*LXOJIXJO?IJBfIBU

SMR

1$+/0

)*6

-#4

%/)#&

+,

P"L"` 8>GF[@\F6NG>HD?@\F6A@EF?@FEb?FNa?N\

S:8EP==AJO3$ d4G:P?A:(SEe$]$;=$ =9<;JAB=;;MI$B$SE;=A=$G=JEGJ3$;:

D?A?G?P$G:8P=n=;M$WC=DAG?;;M=$JC?B:G<$GEJJD?@?$O8MD:(

"?JAE>$D$?;C:I;VJC?B:GOP$<$W;Q<DC?>=9<OP$>G=9?JA:BCOfA$JB?<P

>?CH8?B:A=COP$P;?@<=$DGE>;M=$B=LV>G?=DAM3$B$A?P$T<JC=$G?JJ<IJD:O

D?P>:;<O$d�;9=DJe3$BC:9=fn:O$?9;?<P=;;?I$J<JA=P?I$>?<JD:$B$[=A<\

���,stuvmn,pw

Y?8E;@$d�;9=DJ:e$dU:I9=AJO$BJo�e$D:J:=AJO$<$;:R?K9=;<O$<;N?GV

P:Q<<$B$W;Q<DC?>=9<T=JD<R$JC?B:GOR3$:$A:DK=$JC?B:G;MR$9=N<;<Q<I

B$C<;@B<JA<T=JD<R$<89:;<OR($b$;:JA?On==$BG=PO$;:$d�;9=DJ=e$>G=9V

JA:BC=;M$L?C==$*2$JC?B:G=I$<$J>G:B?T;<D?B3$B$T<JC?$D?A?GMR$BR?9OA

du?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:e$>?9$G=9($"($U($!r:D?B:3$da?GV

N=P;?V?GN?@G:N<T=JD<I$ JC?B:GH$ GEJJD?@?$ O8MD:e$ _($ U($ u<R?;?B:3

d[C?B:GH$GEJJD<R$N:P<C<Ie$b($_($U<D?;?B:3$JC?B:GH$`($_($F=9?JfV

D:$dSEJJD<=$N:P<C<<e3$d789:A=CHJD<I$JC?B:GHVJ>G:B?T;<De$_($Z($a<CHV

T<;:$<$9G(\$���y\��{~w��x�( ��|}�(xz

U:8?B=P$=n=$GO9$<;A=G=J;MR$<$>?C=8;MR$B=LVG=JEGJ?B3$>G=9?JA:BV

COfn<R$9?JAE>$D$WC=DAG?;;MP$JC?B:GOP\

J6#0$"+("4..)#%#(7D2)$

• FE;9:P=;A:CH;:O$WC=DAG?;;:O$L<LC<?A=D:$dSEJJD:O$C<A=G:AEV

G:$<$N?CHDC?Ge$,���,�m�N�m�,pw/^

• dSEJJD<=$JC?B:G<e$,���,����tp�,pw/^

• ²C?B:GH$J?DG:n=;<I$GEJJD?@?$O8MD:$,���,���p,pw/^

• SEJJD<=$ JC?B:G<$ <$ P?GN?C?@<O\$ L:8M$ 9:;;MR$ >?$ JC?B:GOP

²(l7($ XK=@?B:3$ _(l_($ p:C<8;OD:3$ 7(lafCC=G:3$ a(lF:JP=G:

,�qqoGll�qtp��u�,p�umq,pw/^

S&=+)6#!-'+,-.)+-(+D'$&+7

• d#GE@?JB=Ae$]$E;<B=GJ:CH;:O$W;Q<DC?>=9<O$,���,�pw����mq,pw/^

• da<G$JC?B:G=Ie$]$D?CC=DQ<O$JC?B:G=I$<$W;Q<DC?>=9<I

,�qqoGll��p����tpm�,���/^

• [C?B:G<$<$W;Q<DC?>=9<<$?;C:I;$,�qqoGllv��,t�tvm���,pw/^

?&#7D2,&2-(.6#0$"+(+(!-"-0#',+)+

• �;9=DJ(Y<;@B?$ ,�qqoGll��u���,stuvmn,pw/^

• ZC=DAG?;;M=$JC?B:G<$D?P>:;<<$aECHA<C=DJ$,���,�w�q��mn,pw/(

!D:8:;;M=$WC=DAG?;;M=$JC?B:G<$?Ls=9<;=;M$?Ln=I$J<JA=P?I$>?V

<JD:$]$WA?$?8;:T:=A3$TA?$J$>?P?nHf$?9;?@?$8:>G?J:$P?K;?$>G?B=G<AH

JC?B?$>?$BJ=P$9=BOA<$JC?B:GOP($S:8EP==AJO3$>?$K=C:;<f$>?CH8?B:A=CO

>G?B=GD:$P?K=A$LMAH$>G?<8B=9=;:$;=$>?$BJ=P$JC?B:GOP3$:$A?CHD?$>?

?9;?PE$JC?B:Gf$<C<$>?$;=JD?CHD<P$<89:;<OP$<8$J><JD:(

"CO$A?@?$TA?LM$>?CH8?B:AHJO$WC=DAG?;;MP<$JC?B:GOP<3$G:8P=n=;V

;MP<$;:$ $d4G:P?A=(SEe3$;=?LO8:A=CH;?$LMAH$d>G?9B<;EAMPe$<;A=GV

;=AV>?CH8?B:A=C=P^$ >?<JD$ >?$ JC?B:GOP$ ;:JA?CHD?$ >G?JA3$ TA?$ J$ WA<P

P?K=A$J>G:B<AHJO$<$T=C?B=D3$B>=GBM=$8:r=9r<I$B?$bJ=P<G;Ef$J=AH(

bJ=$JC?B:G<$L=J>C:A;M$<$?Ln=9?JAE>;M3$9CO$?JEn=JABC=;<O$>?<JD?V

B?@?$8:>G?J:$;=$;EK;?$G=@<JAG<G?B:AHJO$;:$>?GA:C=($"?JA:A?T;?$BMV

>?C;<AH$BJ=@?$+$9=IJAB<O\$-/$B$:9G=J;?I$JAG?D=$<;A=G;=AVLG:E8=G:$;:V

LG:AH*���,�pt��qt,pw$<$+/$B$>?C=$dcG?B=GD:$JC?B:e$,9?JAE>$;=>?JG=9V

JAB=;;?$J$@C:B;?I$JAG:;<QM$>?GA:C:/$BB=JA<$<;A=G=JEfn==$JC?B?($cG<

WA?P$;=?LO8:A=CH;?$;:L<G:AH$ JC?B?$Q=C<D?P\$BP=JA?$?9;?I$<C<$;=V

JD?CHD<R$LEDB$P?K;?$>?JA:B<AH$ J<PB?C$d8B=89?TD:e($"?>EJA<P3$PM

R?A<P$ E8;:AH3$ JD?CHD?$ LEDB$ U$ ><r=AJO$ B$ JC?B=$ 177>?/Q1>77AB($ aM

P?K=P$?N?GP<AH$>?<JD?BMI$8:>G?J$ JC=9Efn<P$?LG:8?P\$ 17�>?/Q1N

>7�$]$<$>?CET<P$G=8ECHA:A\$177>?/Q1>77AB"3Y?@<D:$>?<JD?B?I$J<JA=PM

>?8B?CO=A$?L;:GEK<AH$JC?B?3$9:K=$=JC<$?;?$;:><J:;?$J$?r<LD?I$,;=

JCET:I;?$G=JEGJ$;:8MB:=AJO$dcG?B=GD:$JC?B:e�/3$>?WA?PE$<$>?$8:>G?V

JE$ 17>?/Q1>77AB$>?CH8?B:A=Cf$LE9=A$9?JAE>=;$G=8ECHA:A$>?<JD:\$ 17N

7>?/Q1>77AB"

dcG?B=GD:$JC?B:e$]$?9<;$<8$B:K;=Ir<R3$;?$9:C=D?$;=$=9<;JAB=;V

;MI$J=GB<J$d4G:P?AM(SEe3$B?JAG=L?B:;;MI$JG=9<$B=LV>?CH8?B:A=C=I(

0?CHr?I$>?>ECOG;?JAHf$>?CH8E=AJO$d[>G:B?T;?=$LfG?e$]$L=J>C:AV

;:O$<;A=G:DA<B;:O$J>G:B?T;:O$JCEKL:$>?$GEJJD?PE$O8MDE($�=CH$9:;V

;?@?$J=GB<J:$]$?L=J>=T=;<=$?>=G:A<B;MR$D?;JECHA:Q<I$>?$GEJJD?PE

O8MDE3$>G=9?JA:BCO=PMR$<;A=G;=AV:E9<A?G<<$J>=Q<:C<JA:P<$J$?>?G?I

;:$:BA?G<A=A;M=$<JA?T;<D<$,JC?B:G<$<$J>G:B?T;M=$>?J?L<O$>?$>G?<8V

;?r=;<f3$>G:B?><J:;<f3$C<A=G:AEG;?PE$G=9:DA<G?B:;<f/($b$;:JA?V

On==$BG=PO$:GR<B$d[>G:B?T;?@?$LfG?e$J?JA:BCO=A$L?C==$+12$222$B?>V

G?J?B$<$?AB=A?B(

#G?P=$WA?@?3$D$EJCE@:P$>?J=A<A=C=I$d4G:P?AM(SEe\

]$>?C;MI$A=DJA$9=IJABEfn<R$>G:B<C$GEJJD?I$?GN?@G:N<<$<$>E;DV

AE:Q<<^

]$GELG<D:$dc<JHP?B;<De\$G=D?P=;9:Q<<$>?$J?JA:BC=;<f$9=C?BMR

9?DEP=;A?B$<$;:ET;MR$A=DJA?B^

]$?N<Q<:CH;M=$9?DEP=;AM^

]$;?B?JA;:O$C=;A:^

]$?LET:fn<=$>?J?L<O3$<;A=G:DA<B;M=$9<DA:;AM$<$O8MD?BM=$<@GM(

SOT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SOS

1$+/0

)*6

-#4

%/)#&

+,

bP=JA=$ J$ A=P$A:D:O$ 8:9:T:$>G=9>?C:@:=A$An:A=CH;MI3$BJ=JA?G?;V

;<I$:;:C<8$D?P>?;=;A?B$<8ET:=P?@?$A=DJA:$ ,J?9=GK:A=CH;MR3$<9=IV

;?VWJA=A<T=JD<R3$D?P>?8<Q<?;;MR3$G=T=BMR/$B$<R$B8:<P;?P$J??A;?V

r=;<<$<$B8:<P?9=IJAB<<($0=8$ WA?@?$;=CH8O3$D:D$?T=B<9;?3$B$>?C;?I

P=G=$?J?8;:AH$9:;;MI$A=DJA$D:D$Q=C?JA;?=$>G?<8B=9=;<=3$>?;OAH$:BV

A?GJD<I$8:PMJ=C$A=DJA:(

�JC<$K=$;=?LR?9<P?$BMOJ;<AH$J?9=GK:;<=$<$JA<C<JA<T=JDEf$JA?V

G?;E$NG:@P=;A:$A=DJA:3$=@?$NE;DQ<?;:CH;?=$;:8;:T=;<=$B$:;:C<8<GEV

=P?P$A=DJA=3$9=IJAB<A=CH;MI$JPMJC3$JA<C<JA<T=JDEf$R:G:DA=G<JA<DE

,B$A?P$T<JC=$WP?Q<?;:CH;?VWDJ>G=JJ<B;M=$<$?Q=;?T;M=$?AA=;D</$?AV

9=CH;?@?$JC?B:3$JC?B?J?T=A:;<O3$NG:8M3$=JA=JAB=;;?$?LG:n=;<=$J??AV

B=AJAB=;;?$D$P:DG?D?;A=DJAE$BJ=@?$G=T=B?@?$>G?<8B=9=;<O3$D$P<DG?V

D?;A=DJAE$>G=9C?K=;<O$ ,B$ J?JA:B$D?A?G?@?$BR?9<A$G:JJP:AG<B:=P?=

JC?B?3$ JC?B?J?T=A:;<=3$NG:8=?C?@<8P/3$:L8:Q:3$D$NG:8?B?PE$?DGEK=V

;<f$ C=DJ<D?VNG:8=?C?@<T=JD?I$ =9<;<QM3$ >?JD?CHDE$ <$ J?9=GK:;<=

?A9=CH;?@?$NG:@P=;A:3$<$O8MD?B?=$?N?GPC=;<=$WA?@?$J?9=GK:;<O$BMV

OJ;O=AJO$<8$?Ln=@?$D?;A=DJA:$ 8:D?;T=;;?@?$G=T=B?@?$>G?<8B=9=;<O3

D:D<P$OBCO=AJO$<JJC=9E=PMI$A=DJA3$J=P:;A<D:$K=$<$JA<C<JA<T=JD:O$R:V

G:DA=G<JA<D:$?A9=CH;?@?$JC?B:3$JC?B?J?T=A:;<O3$NG:8=?C?@<8P:$?LEJV

C?BC=;M$ P<DG?D?;A=DJA?P$ J??AB=AJABEfn=@?$ :L8:Q:3$ <R$ NG:8?BMP

?DGEK=;<=P(

�=;AG:CH;:O$8:9:T:$@=GP=;=BA<D<$]$<;A=G>G=A:Q<O3$<JA?CD?B:;<=

A=DJA:$ ,><JHP=;;?@?$<$EJA;?@?/$B$Q=COR$ =@?$>?;<P:;<O3$ B?J>G<OA<O

:9G=J:A?P$ ,<$:;:C<A<D?PV<JJC=9?B:A=C=P/$:9=DB:A;?$9=IJAB<A=CH;?V

PE$J?9=GK:;<f3$D?A?G?=$8:DCfT=;?$B$:;:C<8<GE=P?P$A=DJA=3$=@?$,9:;V

;?@?$A=DJA:/$D?PPE;<D:A<B;?PE$;:8;:T=;<f$<$8:9:;<f($cG<$WA?P$;=V

?LR?9<P$P:DJ<P:CH;MI$ET=A$:/$DECHAEG;?V<JA?G<T=JD?@?$<$J?Q<?DECHV

AEG;?@?$D?;A=DJA:$W>?R<$,B$Q=C?P$<$B>C?AH$9?$T:JA;MR$9=A:C=I/3$dE8V

D<Re$ <9=?C?@<T=JD<R$ JPMJC?B3$ G:8;?@?$ G?9:$ :JJ?Q<:Q<I3$ :CCf8<I3

:DAE:CH;MR$9CO$J??AB=AJABEfn=@?$<JA?G<T=JD?@?$BG=P=;<^$L/$?J?L=;V

;?JA=I$P=;A:C<A=A:3$N?;?BMR$8;:;<I3$:DAE:CH;MR$9CO$;?J<A=C=I$O8MV

D:$,J?89:A=C=I$<8ET:=P?@?$A=DJA:/3$WA;?DECHAEG;?@?$JB?=?LG:8<O$,<C<

C<;@B<JA<T=JD?I$D:GA<;M$P<G:/$9:;;?@?$O8MD:$ ,>G=K9=$BJ=@?$]$ =@?

C=DJ<D?VNG:8=?C?@<T=JD?@?$J?JA:B:/(

Y<;@B<JA<T=JD:O$WDJ>=GA<8:$J>?G;?@?$A=DJA:3$>G?B?9<P:O$>?$fG<V

9<T=JD?PE$>?B?9E$?L?Ln=;;?$;:8MB:=AJO$dJE9=L;:O$C<;@B<JA<T=JD:O

WDJ>=GA<8:e3$R?AO$JAG?@?$A=GP<;?C?@<T=JD<$B$fG<J>GE9=;Q<<3$J$A?TV

D<$ 8G=;<O$ 8:D?;?9:A=CH;?V>G?Q=JJE:CH;?I3$G:8C<T:fAJO$ JE9=L;:O$<

B;=JE9=L;:O$WDJ>=GA<8:3$B$A?P$T<JC=$C<;@B<JA<T=JD:O($[E9=L;:O$C<;@V

B<JA<T=JD:O$WDJ>=GA<8:$>G?B?9<AJO$;:$?J;?B:;<<$?>G=9=C=;<O$JE9:3

B;=JE9=L;:O$C<;@B<JA<T=JD:O$WDJ>=GA<8:$]$;:$?J;?B:;<<$><JHP=;;?@?

?LG:n=;<O$:9B?D:A:3$N<8<T=JD?@?3$fG<9<T=JD?@?$C<Q:3$?Ln=JAB=;;?@?

?Ls=9<;=;<O$,<C<$<;?@?$JELs=DA:$]$<;<Q<:A?G:$<JJC=9?B:;<O3$AG=LEV

(DNEU6Q"&A@VHANEAWFNBAF6YBNZF?EA[\6AA@EF?Z?FEDfAXm6ANE>GB>HD@AF6EFBNEDjVF?CF@FHEABDk

Y<;@B<JA<T=JD:O$ WDJ>=GA<8:$ J>?G;?@?$ A=DJA:$ >?$ fG<9<T=JD?PE

>?B?9E$]$J>=Q<:C<8<G?B:;;MI$K:;G$P=K9<JQ<>C<;:G;?@?$N<C?C?@<V

T=JD?@?$<JJC=9?B:;<O\$?;:$;=>?JG=9JAB=;;?$?A;?J<AJO$D$?9;?I$<8$9G=BV

;<R$ ?AG:JC=I$ N<C?C?@<<$ ]$ D$ @=GP=;=BA<D=$ ,@G=T($ ��{��z���{��$ ]$ ?A

�����z��|$ ³<JA?CD?BMB:f´3$ ³G:8sOJ;Of´/(

4=GP=;=BA<D:$B?8;<DC:$B$:;A<T;Ef$W>?RE($c=GBM=$?>MAM$<JJC=9?V

B:;<O$A=DJA?B$B$:J>=DA:R$:;A<T;?I$@=GP=;=BA<D<$>?JBOn=;M$<JA?CD?V

B:;<f$B?C<$L?@?B3$<8sOBCO=P?I$B$<8G=T=;<OR$?G:DEC?B3$;?$B$?J;?BV

;?P$]$A?CD?B:;<f3$D?PP=;A<G?B:;<f$A=DJA?B$:;A<T;MR$:BA?G?B(

U:ET;M=$?J;?BM$@=GP=;=BA<D<$LMC<$G:8G:L?A:;M$B$D?;Q=$��ggg

B=D:$;=P=QD<P$L?@?JC?B?P$<$N<C?J?N?P$F($�C=I=GP:R=G?P($X;$B<V

9=C$B$ @=GP=;=BA<D=$ET=;<=$?$>?;<P:;<<$TEK?I$<;9<B<9E:CH;?JA<$B

G:8C<T;MR$N?GP:R$==$BMG:K=;<O(

b$S?JJ<<$<9=<$DC:JJ<T=JD?I$@=GP=;=BA<D<$>?CET:fA$G:8B<A<=$@C:BV

;MP$?LG:8?P$B$AGE9:R$4(4($�>=A:$<$a(a($0:RA<;:(

b$;:r=$BG=PO$:DAE:CH;?JAH$@=GP=;=BA<D<$D:D$A?I$?LC:JA<$@EP:;<V

A:G;?@?$ 8;:;<O3$ 9CO$ D?A?G?I$ @C:B;?I$ Q=CHf$ OBCO=AJO$ >?;<P:;<=$ <

<JA?CD?B:;<=$ A=DJA:$ ,B$ r<G?D?P$ JPMJC=$ WA?@?$ JC?B:/3$ ?LsOJ;O=AJO

G:8B=GAMB:fn=IJO$<;N?GP:Q<?;;?I$G=B?CfQ<=I3$BJC=9JAB<=$D?A?G?I

C:B<;??LG:8;?$B?8G:JA:=A$D?G>EJ$B=GL:CH;?I$<;N?GP:Q<<$B$JBO8<$J

;=LMB:CMP$G:8B<A<=P$JG=9JAB$P:JJ?B?I$D?PPE;<D:Q<<3$:$A:DK=$B$JBOV

8<$J$J=GH=8;MP$EJC?K;=;<=P$B$A=T=;<=$��$JA?C=A<O$>?WA<D<$<$<9=I;?V

J?9=GK:A=CH;?I$JA?G?;M$>G?<8B=9=;<I$<8On;?I$JC?B=J;?JA<(

_;:C<8$ A=DJA:$ B$ :J>=DA:R$ @=GP=;=BA<D<$ <P==A$ Q=CHf$ >?;<P:;<=

A=DJA:$B$Q=C?P3$>?JA<K=;<=$=@?$@CEL<;;?@?$JPMJC:($0MAH$<;JAGEP=;V

A?P3$ >?JG=9JAB?P$ D?A?G?@?$ :9G=J:A$ A=DJA:$ ,<C<$ =@?$ <JJC=9?B:A=CH/

>?CET:=A$B?8P?K;?JAH$<8BC=TH$<8$9:;;?@?$A=DJA:$D:D$P?K;?$L?CHr=

>?C=8;?I$<;N?GP:Q<<3$B?$BJ=I$>?C;?A=$?JPMJC<AH3$B?J>G<;OAH$:BA?GV

JD<I$8:PMJ=C$]$B?A$;:8;:T=;<=$@=GP=;=BA<D<(

SOh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SOI

1$+/0

)*6

-#4

%/)#&

+,

,>G=9P=A;?@?3$A=P:A<T=JD?@?3$<9=I;?@?3$<9=?C?@<T=JD?@?3$<9=I;?VWJV

A=A<T=JD?@?/3$:$A:DK=$J>?J?L?B$<$>G<oP?B$BMG:K=;<O$WA?@?$J?9=GK:V

;<O$,?A$:GR<A=DA?;<D<$A=DJA:3$JG=9JAB$>?WA<D<$9?$J>=Q<:C<8<G?B:;;?V

@?$<J>?CH8?B:;<O$O8MD:3$;:$D?A?G?P$J?89:;$A=DJA/$]$J$;=>G=P=;;?I$B8:V

<P;?I$dEBO8D?Ie$J?9=GK:;<O$9:;;?@?$A=DJA:$J$N?GP?I$=@?$B?>C?n=V

;<O$]$B$:J>=DA:R$DECHAEG;?V<JA?G<T=JD<R3$J?Q<?DECHAEG;MR3$<9=I;?V

WJA=A<T=JD<R$,=JC<$9:;;MI$A=DJA$]$C<A=G:AEG;?VRE9?K=JAB=;;MI/(

U:ET;?V<JJC=9?B:A=CHJDEf$K=$?J;?BE$N<C?C?@<T=JD?I$<;A=G>G=V

A:Q<<$A=DJA:$J?JA:BCOfA\$JA<C<JA<D:$D:D$;:ED:$?L$<J>?CH8?B:;<<$O8MD:

,#&="02=L03(@(*ADE'2/$B$G=T=B?I$D?PPE;<D:Q<<3$B$A=DJA:R$J:P?@?$G:8V

;?@?$J?9=GK:;<O$<$NE;DQ<?;:CH;?@?$;:8;:T=;<O$,B$A?P$T<JC=$JE9=LV

;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M/3$ B?$BJ=B?8P?K;MR$G=T=BMR$J<AE:V

Q<OR$<$D?;A=DJA:R3$C<;@B?>G:@P:A<D:$D:D$;:ET;:O$9<JQ<>C<;:3$<8ET:V

fn:O$8:D?;?P=G;?JA<$D?PPE;<D:A<B;?V>G:@P:A<T=JD?I$?G@:;<8:Q<<

G=T=B?@?$ ?Ln=;<O$ ,BDCfT:O$ ><JHP=;;M=$ <$ EJA;M=$ A=DJAM/$ <$ A=?G<O

A=DJA:3$?;A?C?@<T=JD<$JBO8:;;M=$J?$JA<C<JA<D?I(

b$;:T:C=$��$B=D:$LMA?B:C?$P;=;<=3$TA?$>G<$N<C?C?@<T=JD?I$G:L?V

A=$;:9$A=DJA?P3$B$T:JA;?JA<$]$>G<$G:8G=r=;<<$JC?K;MR$B?>G?J?B$<;V

A=G>G=A:Q<<$?A9=CH;MR$P=JA$A=DJA:3$:AG<LEQ<<$A=R$<C<$<;MR$O8MD?BMR

=9<;<Q$<$A(>(3$9?JA:A?T;?$9?B=GOAHJO$d89G:B?PE$JPMJCEe($bP=JA=$J$A=P

4(X($b<;?DEG$<$0(b($u?P:r=BJD<I$EK=$B$+2V=$@?9M$EL=9<A=CH;?$>?D:8:V

C<$<$9?D:8:C<$G=r:fn==$8;:T=;<=$dP=A?9?C?@<<$N<C?C?@<T=JD?I$G:V

L?AM$;:9$A=DJA?Pe3$;=?LR?9<P?JAH$B$A:D?I$G:L?A=$>G=K9=$BJ=@?$<$L?CHV

r=$BJ=@?$?><G:AHJO$;:$>G<;Q<>$d?JPMJC=;;?@?$>?9R?9:e$D$A=DJAE3$;:

N<C?C?@<T=JD<I$>?9R?9$D:D$;:$P=A?93$><A:fn<I$BJOD?=$C<;@B?A=DJA?V

C?@<T=JD?=$<$dT<JA?e$A=DJA?C?@<T=JD?=$<JJC=9?B:;<=($7P=;;?$B$@CEL?V

D?P3$>?$B?8P?K;?JA<$BJ=JA?G?;;=P$N<C?C?@<T=JD?P$:;:C<8=$A=DJA:

b<;?DEG$B<9=C$8:C?@$>G:B<CH;?@?$>G?TA=;<O$A=DJA:$,JP($%17>@G83("$"

#G<A<D:$>?WA<T=JD?@?$A=DJA:3$-)+'/3$:$8;:T<A$]$<$=@?$<JA?CD?B:;<O$<

D?PP=;A<G?B:;<O3$?L?J;?B:;;MR$DECHAEG;?V<JA?G<T=JD<$<$J$A?TD<$8G=V

;<O$JA<C<JA<D<3$>?WA<D<3$C<;@B<JA<D<$A=DJA:3$C<;@B?>G:@P:A<D<(

d#:J:A=CH;?$L=J>?C=8;?JA<$P=A?9?C?@<<3$]$><J:C$b<;?DEG3$]$8:P=V

TE$JC=9Efn==\$>EJAH$<$B$J:P?P$9=C=$N<C?C?@$;=$J>G:BCO=AJO$J$P=A?9?V

C?@<T=JD<P<$BMB?9:P<$<$>G?LC=P:P<^$8;:T<A$C<$WA?3$TA?$?;$CGZ5CD?57N

7>$ JB?L?9=;$?A$ED:8:;<I$P=A?9?C?@<<�$cG:DA<T=JD<$ET=;MI$G=r:=A

JB?<$WP><G<T=JD<=$8:9:T<$L=8$J>G:BD<$B$ET=L;<D=$C?@<D<$?A;?J<A=CHV

;?$A?@?3$TA?$A:D?=$J<CC?@<8P($Y?@<D:$;=$>=G=JA:=A3$?9;:D?3$?A$WA?@?

LMAH$?J;?B:;<=P$BJOD?@?$;:ET;?@?$8;:;<O($!$N<C?C?@<T=JD?I$DG<A<V

D<$A=DJA:$=JAH$C?>H$C?@<D:e+6

(

b$JN=G=$@=GP=;=BA<T=JD<R$<JJC=9?B:;<I$;=>?JG=9JAB=;;?=$?A;?r=V

;<=$D$C<;@B<JA<T=JD?I$WDJ>=GA<8=$<P==A$<;A=G>G=A:Q<O$A=DJA:3$?9;?I

+6$%17>@G83("$"$X$O8MD=$RE9?K=JAB=;;?I$C<A=G:AEGM($a(3$-))-($[($'2(

fn=@?$ <J>?CH8?B:;<O$ >G?N=JJ<?;:CH;MR$ 8;:;<I/$ D$ J>=Q<:C<JA:PV

N<C?C?@:P3$B$C<;@B<JA<T=JD<I$;:ET;?V<JJC=9?B:A=CHJD<I$<;JA<AEA$<C<

BMJr==$N<C?C?@<T=JD?=$ET=L;?=$8:B=9=;<=3$B$J>=Q<:CH;M=$WDJ>=GA;M=

@?JE9:GJAB=;;M=$<C<$?Ln=JAB=;;M=$?G@:;<8:Q<<+%

($a=K9E$A=P$>G<;V

Q<>M$N<C?C?@<T=JD?@?$<JJC=9?B:;<O$J>?G;?@?$A=DJA:$B$G:PD:R$JE9=LV

;?I$<$B;=JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M$?9;<$<$A=$K=\$?Ls=DV

A<B;MI$BJ=JA?G?;;<I$;:ET;MI$:;:C<8$A=DJA:$B$J??AB=AJAB<<$J$B?>G?V

J:P<3$ >?JA:BC=;;MP<$ B$ 8:>G?J=$ ?$ >G?B=9=;<<$ C<;@B<JA<T=JD?I$ WDJV

>=GA<8M$J>?G;?@?$A=DJA:($7P=;;?$WA?$?LJA?OA=CHJAB?$?>G=9=CO=A$@=GV

P=;=BA<T=JD<I$>?9R?9$D$A=DJAE$B$>G?Q=JJ=$JE9=L;?I$C<;@B<JA<T=JD?I

WDJ>=GA<8M($b?A$D:D$N?GPEC<GEfAJO$ 8:9:T<$JE9=L;?I$C<;@B<JA<T=JV

D?I$WDJ>=GA<8M$B$a=A?9<T=JD<R$G=D?P=;9:Q<OR$?A;?J<A=CH;?$>G?<8V

B?9JAB:$<$?Q=;D<$8:DCfT=;<O$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M$J

>?8<Q<I$ >G:B:\$ dp:9:T:$ JE9=L;?I$ C<;@B<JA<T=JD?I$ WDJ>=GA<8M$ ]$ B

r<G?D?P$JPMJC=$JC?B:$A?CD?B:;<=$A=DJA?B3$<;A=G>G=A:Q<O3$>=G=B?93

?LsOJ;=;<=$E>?AG=LC=;<O$O8MD?B?@?$8;:D:$J$A?TD<$8G=;<O$>C:;:$J?V

9=GK:;<O$<$>C:;:$BMG:K=;<O3$EJA:;?BC=;<=$<$>?9AB=GK9=;<=$:BA?GV

JAB:$A=DJA:3$BMOBC=;<=$>C:@<:A:$<$A(9(e+&

(

4=GP=;=BA<D:3$D:D$<8B=JA;?3$8:;<P:=AJO$DG<A<D?I$A=DJA:3$A(=($D?PV

P=;A<G?B:;<=P3$:;:C<8?P$D?P>?8<Q<?;;?VG=T=B?I$JAGEDAEGM$A=DJA:

B$JBO8<$J$=@?$J?9=GK:;<=P3$J$:BA?GJD<P$8:PMJC?P3$D?PPE;<D:A<B;?I

EJA:;?BD?I$9:;;?@?$A=DJA:$<$ =@?$NE;DQ<?;:CH;MP$;:8;:T=;<=P\$<JV

A?CD?B:;<=P$J?9=GK:;<O$A=DJA:3$;:R?9On=@?$B?>C?n=;<=$B$=@?$D?PV

>?8<Q<?;;?VG=T=B?I$JAGEDAEG=3$;:$N?;=$<$B$D?;A=DJA=$DECHAEG;?V<JV

A?G<T=JD?@?$;:>?C;=;<O$<$JB?=?LG:8<O$J??AB=AJABEfn=I$W>?R<($4=GV

P=;=BA<D:$EJA:;:BC<B:=A$>?9C<;;MI3$D:;?;<T=JD<I$B:G<:;A$<8B=JAV

;?@?$A=DJA:3$=@?$9=IJAB<A=CH;?=$J?9=GK:;<=$<$NE;DQ<?;:CH;?=$;:8;:V

T=;<=3$ :BA?GJAB?$:;?;<P;MR$<$>J=B9?;<P;MR$JC?B=J;MR$>G?<8B=9=V

;<I($�=C<$<$8:9:T<$@=GP=;=BA<D<$;:R?9OA$JB?f$G=:C<8:Q<f$B$A:D<R

N<C?C?@<T=JD<R$9<JQ<>C<;:R3$D:D$A=DJA?C?@<O3$<JA?T;<D?B=9=;<=3$>:V

C=?@G:N<O3$ WBG<JA<D:(

4=GP=;=BA<T=JD?=$<JJC=9?B:;<=$>G=9>?C:@:=A$>G=K9=$BJ=@?$N<C?V

C?@<T=JDEf$<;A=G>G=A:Q<f$A=DJA:($X;:$JC?K<C:JH$B$G:PD:R$@=GP=;=BV

A<D<$D:D$N:DA?C?@<T=JD:O$L:8:$9:CH;=Ir=@?$:;:C<8:$=@?$J?9=GK:;<O

+%$c?9G?L;?$?$fG<9<T=JD<R$:J>=DA:R3$:$A:DK=$?$8:9:T:R$JE9=L;?I$<$B;=JE9=L;?I$C<;@V

B<JA<T=JD?I$WDJ>=GA<8M$JP(\$(/FHI17/3,"#"$U:8;:T=;<=3$>G?<8B?9JAB?$<$?Q=;D:$8:DCfV

T=;<O$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M($a=A?9<T=JD<=$G=D?P=;9:Q<<$��$�=;:$JC?B:\

78$>G:DA<D<$C<;@B<JA<T=JD<R$WDJ>=GA<8$A=DJA?B$[a7$B$JE9=L;MR$>G?Q=JJ:R$>?$8:n<A=

T=JA<3$9?JA?<;JAB:$<$9=C?B?I$G=>EA:Q<<($c?9$G=9($a(b($4?GL:;=BJD?@?($%V=$<89(3$<J>G($<

9?>($a(3$+22+($[($+)%]%-*(

+&$(/FHI17/3,"#"$!D:8($J?T($[($+)1(

SOL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SOM

1$+/0

)*6

-#4

%/)#&

+,

]$ ?>G=9=CO=AJO$ J??AB=AJAB<=$ <J>?CH8?B:;<O$ O8MD?BMR$ JG=9JAB$ B

G:JJP:AG<B:=PMR$A=DJA:R$9=IJABEfn<P$C<A=G:AEG;MP$<$K:;G?B?VA=DV

JA?BMP$;?GP:P^

]$BMOJ;O=AJO$P=G:$A?T;?JA<$BML?G:$<$P?A<B<G?B:;;?JA<$E>?AG=LV

C=;<O$JC?B:3$NG:8=?C?@<8P:3$@G:PP:A<T=JD?I$N?GPM3$J<;A:DJ<T=JD?I

D?;JAGEDQ<<$ B$ G:PD:R$ P<DG?D?;A=DJA:$ NG:8M3$ :L8:Q:$ <�<C<$ P:DG?V

D?;A=DJA:$BJ=@?$A=DJA:$ ,=@?$ J?9=GK:A=CH;?$<$D?P>?8<Q<?;;?$8;:T<V

P?@?$ NG:@P=;A:/$ >G<$ ET=A=$ :/$ AG=L?B:;<I$ C<A=G:AEG;MR$ ;?GP3$ 8:DV

G=>C=;;MR$B$A?CD?B?P$JC?B:G=^$:D:9=P<T=JD?I$@G:PP:A<D=$<$B$:BA?V

G<A=A;MR$N<C?C?@<T=JD<R$J>G:B?T;<D:R3$B$NE;9:P=;A:CH;MR$<JJC=V

9?B:;<OR$GEJJD?@?$C<A=G:AEG;?@?$O8MD:^$L/$ J?BG=P=;;?@?$J?JA?O;<O

<$:DA<B;MR$>G?Q=JJ?B3$ A=;9=;Q<I$C<A=G:AEG;?VO8MD?B?I$WB?CfQ<<^

B/$ JA<C<JA<T=JD<R$D?;A=DJA?B$<$G=T=BMR$J<AE:Q<I$E>?AG=LC=;<O$?AV

9=CH;MR$JC?B3$NG:8=?C?@<8P?B3$ J??AB=AJABEfn<R$C=DJ<D?VNG:8=?C?V

@<T=JD<R$G:8GO9?B$C<A=G:AEG;?@?$O8MD:3$@G:PP:A<T=JD?I$N?GPM3$J<;V

A:DJ<T=JD?I$D?;JAGEDQ<<^$@/$<R$>G<;:9C=K;?JA<$D$EJA;?I$<$><JHP=;V

;?I$ G=T<3$ D$ ?>G=9=C=;;?I$ NE;DQ<?;:CH;?VJA<C=B?I$ G:8;?B<9;?JA<

J?BG=P=;;?@?$GEJJD?@?$C<A=G:AEG;?@?$O8MD:3$D$?>G=9=C=;;MP$A<>:P

,<C<$K:;G:P/$A=DJA?B3$D$A?I$<C<$<;?I$J?Q<:CH;?I$JN=G=$G:J>G?JAG:V

;=;<O$>G=<PEn=JAB=;;?@?$E>?AG=LC=;<O$G=T=BMR$=9<;<Q$B$G:PD:R$C<V

A=G:AEG;?@?$O8MD:3$:$A:DK=$B$;=;?GP<G?B:;;?I$T:JA<$GEJJD?@?$;:Q<V

?;:CH;?@?$O8MD:$]$B$;:G?9;?VG:8@?B?G;?I$G=T<$,B$9<:C=DA:R3$K:G@?V

;:R3$>G?JA?G=T<</($b$D?;=T;?P$JT=A=$]$G:JJP:AG<B:=AJO$JA=>=;H$J??AV

B=AJAB<O$J>?G;?@?$A=DJA:$<C<$=@?$NG:@P=;A:$,?A$JC?B:$9?$:L8:Q:$<$?AV

;?J<A=CH;?$J:P?JA?OA=CH;?@?$G:89=C:/3$J$?9;?I$JA?G?;M3$9=IJAB<A=CHV

;MP$D?PPE;<D:A<B;MP$Q=COP3$;:P=G=;<OP$:9G=J:;A:3$D?PPE;<D:A<BV

;?I$J<AE:Q<<$J?89:;<O$<$NE;DQ<?;<G?B:;<O$9:;;?@?$A=DJA:3$>G<JEV

n<P$=PE$A<>?BMP$K:;G?B?VA=P:A<T=JD<P$>G<8;:D:P$<$NE;DQ<?;:CHV

;?PE$;:8;:T=;<f^$J$9GE@?I$JA?G?;M3$]$;?GP:A<B;MP$AG=L?B:;<OP$D?PV

PE;<D:A<B;?@?$:DA:$,B$A?P$T<JC=$;?GP:P$G=T=B?@?$WA<D=A:$<$?Ln<P

WA<T=JD<P$;?GP:P/3$?J;?B;MP$>G<;Q<>:P$G=T=B?@?$?Ln=;<O^

]$G:JJP:AG<B:=AJO$<$?L?J;?BMB:=AJO$G?CH$P<DG?V$<�<C<$P:DG?D?;V

A=DJA:$B$:BA?GJD?P$?JPMJC=;<<$,<$:9=DB:A;?P$B?J>G<OA<<$:9G=J:A?P/

?A9=CH;?@?$JC?B:3$JC?B?J?T=A:;<O3$NG:8=?C?@<8P:3$JC?B?N?GPM3$:$A:DV

K=$>G<$;=JA:;9:GA;?P3$?DD:8<?;:CH;?P$E>?AG=LC=;<<$JC?B:3$B??Ln=

O8MD?B?I$=9<;<QM($cG<$;=P?A<B<G?B:;;?P$<C<$JC:L?3$;=9?JA:A?T;?

P?A<B<G?B:;;?P$;=JA:;9:GA;?P$>G<P=;=;<<$O8MD?B?I$=9<;<QM$B$G:JV

JP:AG<B:=P?P$A=DJA=$WDJ>=GAM$:;:C<8<GEfA$>G<T<;M$G=T=B?I$?r<LD<3

D?PPE;<D:A<B;?I$;=E9:T<$<$<R$>?JC=9JAB<I$D:D$9CO$?Ls=DA<B;?@?$<JV

A?CD?B:;<O$9:;;?I$O8MD?B?I$=9<;<QM3$A:D$<$9CO$=o$B?J>G<OA<O$<JAQ?P(

ZDJ>=GAM$B;<P:A=CH;?$:;:C<8<GEfA$J$A?TD<$8G=;<O$EP=JA;?JA<$<

>G:B<CH;?JA<$E>?AG=LC=;<O$G:8;??LG:8;M=$<8?LG:8<A=CH;?VBMG:8<V

A=CH;M=$JG=9JAB:3$JA<C<JA<T=JD<=$>G<oPM3$>?9T=GD<B:fn<=$;EK;M=

<8$@C:B;MR$8:9:T$D?A?G?I$,D:D$?AP=T:C?JH/$OBCO=AJO$G:JDGMA<=$,<$<JV

A?CD?B:;<=/$>?;OA<I;?VC?@<T=JD?I3$<9=I;?VWJA=A<T=JD?I3$WP?Q<?;:CHV

;?VWDJ>G=JJ<B;?I$JA?G?;M$<$D?PPE;<D:A<B;?I$EJA:;?BD<$G:JJP:AG<V

B:=P?@?$A=DJA:$;:$L:8=$BJ=JA?G?;;=@?$N<C?C?@<T=JD?@?$:;:C<8:$ =@?

D?P>?8<Q<?;;?VG=T=B?I$JAGEDAEGM(

4?B?GO$?$>G<;Q<>:R$WBG<JA<D<$ ,:AG<LEQ<<3$EJA:;?BC=;<O$:BA?GV

JAB:$:;?;<P;MR$A=DJA?B/$>?$?A;?r=;<f$D$OBC=;<OP$RE9?K=JAB=;;?I

C<A=G:AEGM$�g�]��$B=D?B3$JN=G?I$<JJC=9?B:;<I$OBCO=AJO$d@CEL?D?=

<$A?T;?=$8;:;<=$JC?B=J;?VRE9?K=JAB=;;?I$J<JA=PM$<;9<B<9E:CH;?@?

JA<CO$><J:A=COe+1

(

_;:C<8$J>?G;?@?$A=DJA:$J$>?8<Q<I$@=GP=;=BA<D<$>G=9JA:BCO=A$J?V

L?I$>?$ JEn=JABE$P=9C=;;?=$TA=;<=3$ A(=(3$ D:D$ @?B?G<C$4(X($b<;?DEG3

EP=;<=$T<A:AH$dBJ=$;:><J:;;?=3$;:>=T:A:;;?=3$JD:8:;;?=e$A:D3$TA?LM

;=$?JA:B:C?JH$;<D:D<R$J?P;=;<I$?A;?J<A=CH;?$JPMJC:$>G?T<A:;;?V

@?e+'

($ 73$ D?;=T;?3$ A:D?=$ TA=;<=$ ?A$ ?LMT;?@?$ B$ K<A=IJD?I$ >G:DA<D=

TA=;<O$J$Q=CHf$?8;:D?P<AHJO$J$J?9=GK:n=IJO$B$9:;;?P$A=DJA=$<;N?GV

P:Q<=I$>G<;Q<><:CH;?$?AC<T:=AJO$A=P3$TA?$WA?$TA=;<=$>G?N=JJ<?;:CHV

;?=3$TA=;<=$J>=Q<:C<JA:$B$?LC:JA<$JA<C<JA<D<3$A=?G<<$A=DJA:3$C<;@V

B?>G:@P:A<D<3$<JA?G<<$O8MD:3$;:$D?A?G?P$;:><J:;$A=DJA3$<$B$?LC:JA<

DECHAEGM$;:G?9:V;?J<A=CO$9:;;?@?$O8MD:(

d�JC<$JC?B?$>?;OA?$;=B=G;?3$]$EAB=GK9:=A$b<;?DEG$B$G:L?A=$dc?V

W8<O$<$;:ED:e3$]$A(=($B$>G?A<B?G=T<<$J$A=P<$9:;;MP<3$D:D<P<$PM$G:JV

>?C:@:=P$9CO$=@?$<;A=G>G=A:Q<<3$A?$;<D:D:O$P=GD:$dJELs=DA<B;?JA<e

<$d<P>G=JJ<?;<8P:e$;=$J>:J=A$J??AB=AJABEfn==$A?CD?B:;<=$?A$A?@?3

TA?LM$>G?JA?$BMT=GD;EAH$=@?$<8$>:POA<e+*

(

_;:C<8$J>?G;MR$A=DJA?B$J$>?8<Q<I$@=GP=;=BA<D<$>G=9>?C:@:=A$,D:D

EK=$?AP=T:C?JH/$P=K9<JQ<>C<;:G;MI$D?P>C=DJ;MI$>?9R?9$B$>G?Q=JV

J=$<JJC=9?B:;<O$WA<R$A=DJA?B$ J$ A?TD<$ 8G=;<O$J?LJAB=;;?$C<;@B<JA<V

T=JD?I$ ,A(=($ B$ :J>=DA:R$ ?><J:A=CH;MR$ C<;@B<JA<T=JD<R$ 9<JQ<>C<;/3

JA<C<JA<D<3$DECHAEGM$G=T<3$A=?G<<$A=DJA:3$>?WA<D<3$C<;@B?>G:@P:A<V

D<3$?AT:JA<$J?Q<?C<;@B<JA<D<3$>J<R?C<;@B<JA<D<3$DECHAEG?C?@<<(

ZA?$?8;:T:=A3$TA?$>G?Q=JJ$G:L?AM$;:9$8:DCfT=;<=P$JE9=L;?I$C<;V

@B<JA<T=JD?I$WDJ>=GA<8M$J?JA?<A$B$JC=9Efn=P\

]$:;:C<8<GE=AJO$ J?JA:B$O8MD?BMR$JG=9JAB$ J>?G;?@?$A=DJA:$ ,J>?GV

;MR$A=DJA?B/$]$@C:B;MP$?LG:8?P$JC?B3$JC?B?J?T=A:;<I3$NG:8=?C?@<8V

P?B3$ :$ A:DK=$ @G:PP:A<T=JD<R$ N?GP3$ <R$ B:G<:;A?B3$ J<;A:DJ<T=JD<R

D?;JAGEDQ<I^

+1$u:P$K=($[($'%(

+'$[P($(170173-"#"$XA$<JA?G<<$D$A=DJAE3$?A$;:ED<$D$<JDEJJABE($4(X($b<;?DEG$B$G:89EPHOR

?$>G=9P=A=$<$JA:AEJ=$N<C?C?@<<$ ��$ %17>@G83("$"$bB=9=;<=$B$<8ET=;<=$N<C?C?@<T=JD<R

;:ED($a(3$+222($[($-%-(

+*$%17>@G83("$"$bB=9=;<=$B$<8ET=;<=$N<C?C?@<T=JD<R$;:ED($[($-2+(

SOO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SOP

1$+/0

)*6

-#4

%/)#&

+,

G:DA=G<JA<DE$G=T=BMR$JG=9JAB3$>G<;Q<>M$<$J>?J?LM$<R$?G@:;<8:Q<<

B;EAG<$A=DJA:3$B$Q=C?P$>G?:;:C<8<G?B:AH$B;EAG=;;ff$?G@:;<8:Q<f

D?P>?8<Q<?;;?VG=T=B?I$JAGEDAEGM$G:JJP:AG<B:=PMR$A=DJA?B$B$J?=9<V

;=;<<$J$:;:C<8?P$<R$J?9=GK:;<O(

[$9GE@?I$JA?G?;M3$;:$?J;?B=$<JJC=9?B:;<O$K:;G?BMR$T=GA3$D?P>?V

8<Q<?;;MR$?J?L=;;?JA=I$9:;;MR$A=DJA?B$<$JA<C<JA<T=JD?@?$:;:C<8:$<R

G=T=BMR$JG=9JAB$WDJ>=GA$?AB=T:=A$;:$B?>G?J\$>G<;:9C=K:A$C<$?LJEK9:V

=PM=$>ELC<D:Q<<$D$<;N?GP:Q<?;;MP$K:;G:P$@:8=AM3$;:$B?>G?J3$>?V

G?K9=;;MI$D?;DG=A;?I$J<AE:Q<=I3$G:8G=r=;<=$D?A?G?I$;:R?9<AJO$B

JN=G=$>G:B?B?@?$>?CO$J?BG=P=;;?I$G?JJ<IJD?I$fG<J>GE9=;Q<<(

ZA:$<CCfJAG:Q<O$<P==A$Q=CH$>?D:8:AH$ J>=Q<N<T;?JAH$N<C?C?@<V

T=JD?@?$:;:C<8:$B$G:PD:R$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M\$B$R?9=

A:D?@?$:;:C<8:$B;<P:;<=$:;:C<A<D:V<JJC=9?B:A=CO$,WDJ>=GA:VC<;@B<V

JA:/$ ;:>G:BC=;?$ ;:$ A?3$ TA?LM3$ ?><G:OJH$ ;:$ ;:ET;M=$ 9:;;M=3$ ;:$ G=V

8ECHA:AM$;:ET;?@?$:;:C<8:3$9:AH$?>G=9=C=;;MI$?AB=A$;:$B?>G?JM$,B

8:>G?J=$;:$>G?B=9=;<=$C<;@B<JA<T=JD?I$WDJ>=GA<8M/($[?9=GK:;<=$A:V

D?@?$?AB=A:$?>G=9=CO=AJO$fG<9<T=JD<P<$:J>=DA:P<$,?AB=AJAB=;;?JAH

8:$?JD?GLC=;<=3$DC=B=AE$<$A(>(/3$JC?K<Br=IJO$J<AE:Q<=I$B$G=8ECHA:A=

?L;:G?9?B:;<O$G:JJP:AG<B:=P?@?$A=DJA:3$D?;A=DJA?P$J>?G;?@?$NG:@V

P=;A:3$ >G=9C?K=;;?@?$ 9CO$ WDJ>=GA;?@?$ 8:DCfT=;<O$ 9?DEP=;A:$ <C<

?>ELC<D?B:;;?@?$P:A=G<:C:(

U:>G<P=G3$B$8:>G?J:R$?$>G?B=9=;<<$JE9=L;MR$C<;@B<JA<T=JD?I$WDJV

>=GA<8M$B$JBO8<$J$?LB<;=;<=P$,B$<JD?B?P$8:OBC=;<</$:BA?G:$J>?G;?@?

A=DJA:$,>ELC<D:Q<<3$>ELC<T;?@?$BMJAE>C=;<O/$B$?JD?GLC=;<<$T:JA;?@?

C<Q:$<C<$B$;:;=J=;<<$En=GL:$9=C?B?I$G=>EA:Q<<$fG<9<T=JD?@?$C<Q:

EJA:;:BC<B:=AJO$;:$?J;?B=$:;:C<8:$>G=9C?K=;;?@?$9CO$C<;@B<JA<T=JV

D?I$WDJ>=GA<8M$A=DJA:$,<C<$A=DJA?B/$]$=JAH$C<$,<$D:D<=$<P=;;?3$=JC<$?;<

=JAH$<C<$OBCOfAJO$A:D?BMP<3$D:D$ED:8:;?$B$<JD?B?P$8:OBC=;<<$B$8:>G?V

J=$JE9:/$JC?B:3$JC?B?J?T=A:;<O3$NG:8M3$NG:@P=;AM$A=DJA:3$J?9=GK:n<=

OB;?$BMG:K=;;Ef$B=G<N<Q<GE=PEf$;=@:A<B;Ef$<;N?GP:Q<f3$>?G?T:V

nEf$9?LG?=$<PO$D?;DG=A;?@?$N<8<T=JD?@?�fG<9<T=JD?@?$C<Q:$ ,A?@?3

D?PE$d>?JBOn=;:e$G:JJP:AG<B:=P:O$>ELC<D:Q<O/3$;:;?JOnEf$P?G:CHV

;MI$En=GL$=@?$9?JA?<;JABE$<�<C<$9=C?B?I$G=>EA:Q<<3$:$A:DK=$JC?B=JV

;?$BMG:K=;;?=$?JD?GLC=;<=$9:;;?@?$C<Q:$<C<$DC=B=AE$;:$;=@?(

X9<;$<8$?J;?B;MR$>?JAEC:A?B$:;:C<8:$J>?G;MR$A=DJA?B\$>?9C<;V

;MI3$ 9=IJAB<A=CH;MI$ JPMJC$ JC?B:3$ JC?B?J?T=A:;<O3$ NG:8=?C?@<8P:3

NG:8M$BMOJ;O=AJO$A?CHD?$<8$P<DG?D?;A=DJA:$BMJD:8MB:;<O3$:L8:Q:$<�

<C<$<8$P:DG?D?;A=DJA:$Q=C?@?$G=T=B?@?$>G?<8B=9=;<O$,A(=($A=DJA:/(

b$ ?>ELC<D?B:;;?I$ B$ dZDJ>G=JJV@:8=A=e$ q$ %$ 8:$ -))*$ @?9$ JA:AH=

[(`($[:9:CHJD?@?$dcG=8<G:O$JP=GAH3$<C<$JD:;9:CH;?=$?ADG?B=;<=$_8<V

8M$B$DG=n=;JDEf$;?THe3$B$=o$BJAE><A=CH;?I$T:JA<$T<A:=P\$d�c?WA?PE3

E8;:B$?$AG:@=9<<$B$Y=;<;@G:9=$,1255DCH3?3?10G3GL1BCD?>3Y5?Q/3#"3n/FJN

@>?//3$O$>?DCOCJO3$TA?$;<D?@9:$;=$LE9E$?Ln:AHJO$J$WA?I$LCO9Hfe+)

(

+)$d�=;:$JC?B:e3$%V=$<89(3$<J>G($<$9?>($a(3$+22+($[($6*$,ZDJ>=GA<8:$6($[($61]1-/(

:BA?GE$JPMJCM3$WP?Q<?;:CH;?VWDJ>G=JJ<B;M=$:DQ=;AM$<C<$;:P=G=;V

;?$D:PENC<GEfn<=$<JA<;;MI$JPMJC$BMJD:8:;;?@?$B$9:;;?P$A=DJA=^

]$P:DJ<P:CH;?$ET<AMB:fAJO$JA:AEJ;M=$<$G?C=BM=$R:G:DA=G<JA<D<

J?89:A=CO$:;:C<8<GE=P?@?$A=DJA:3$:$A:DK=$,=JC<$WA?$JEn=JAB=;;?$9CO

WDJ>=GA;?@?$<JJC=9?B:;<O$G:JJP:AG<B:=P?@?$A=DJA:/$]$?J;?B;?@?$>=GV

J?;:K:$DG<A<T=JD?@?$<C<$G:8?LC:T<A=CH;?@?$>ELC<DE=P?@?$P:A=G<:V

C:3$D?PPE;<D:A<B;M=$EJA:;?BD<$:BA?G:$9:;;?@?$A=DJA:(

u:D?I$P;?@?:J>=DA;MI$:;:C<8$A=DJA:$B$JE9=L;?I$C<;@B<JA<T=JD?I

WDJ>=GA<8=$?LEJC?BC=;3$J$?9;?I$JA?G?;M3$A=P3$TA?$?;:$]$B$J<CE$D?P>V

C=DJ;?@?$:;:C<8:$D?P>?8<Q<?;;?VG=T=B?I$JAGEDAEGM$A=DJA:$B$;=G:8V

GMB;?I$JBO8<$J$=@?$J?9=GK:;<=P$]$OBCO=AJO$?Ls=DA?P$<8ET=;<O$@=GP=V

;=BA<D<($#:D$<$B$AG:9<Q<?;;?P$@=GP=;=BA<T=JD?P$<JJC=9?B:;<<3$B$JEV

9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8=$?9;?I$<8$@C:B;MR$8:9:T$OBCO=AJO

G:JDGMA<=$>?;OA<I;?VC?@<T=JD?@?$J?9=GK:;<O$<$WP?Q<?;:CH;?VWDJ>V

G=JJ<B;?I$JA?G?;M$G:JJP:AG<B:=P?@?$A=DJA:$<$<R$<JA?CD?B:;<=$;:$?JV

;?B=$BJ=JA?G?;;=@?$N<C?C?@<T=JD?@?$:;:C<8:$J=P:;A<T=JD?I3$D?P>?V

8<Q<?;;?VG=T=B?I$JAGEDAEGM$9:;;?@?$A=DJA:3$:$A:DK=$=@?$D?PPE;<D:V

A<B;?I$Q=C<$<$NE;DQ<?;:CH;?@?$;:8;:T=;<O(

[$9GE@?I$JA?G?;M3$>G<$BJ=I$N<C?C?@<T=JD?I$;:>G:BC=;;?JA<$<JV

JC=9?B:;<O$J>?G;MR$A=DJA?B$<R$:;:C<8$?G<=;A<G?B:;$;:$>G:B?BM=$?JV

;?BM$9=IJABEfn=@?$8:D?;?9:A=CHJAB:3$?>G=9=CO=AJO$J>=Q<:CH;?I$Q=V

CHf3$JN?GPEC<G?B:;;?I$B$>?JA:BC=;;MR$B$8:>G?J=$?$C<;@B<JA<T=JD?I

WDJ>=GA<8=$B?>G?J:R$,G:8EP==AJO3$D?GG=DA;MR$J$N<C?C?@<T=JD?I$A?TV

D<$ 8G=;<O3$ET<AMB:fn<R$G:PD<$>G:B?B?I$D?P>=A=;Q<<$C<;@B<JA?BV

WDJ>=GA?B3$:$A:DK=$8:9:T<$<$B?8P?K;?JA<$N<C?C?@<T=JD?@?$:;:C<8:/(

F<C?C?@<O3$ A:D<P$?LG:8?P3$B$G:PD:R$ JE9=L;?I$C<;@B<JA<T=JD?I

WDJ>=GA<8M$BMJAE>:=A$B$>G<DC:9;?P$;:8;:T=;<<3$D:D$<;JAGEP=;A$J?V

JA:BC=;<O$WDJ>=GA;?@?$8:DCfT=;<O$]$?9;?@?$<8$>G=9EJP?AG=;;MR$8:V

D?;?P$<JA?T;<D?B$9?D:8:A=CHJAB(

b?A$?9;:$<8$<CCfJAG:Q<I($b$JBO8<$J$D?;NC<DA?P$P=K9E$?9;<P$<8

J:IA?B$7;A=G;=A:$<$G=9:DQ<=I$@:8=AM$d#?PP=GJ:;Ase$?A;?J<A=CH;?

?>C:AM$8:$B?J>G?<8B=9=;<=$B$7;A=G;=A=$:BA?GJD<R$P:A=G<:C?B3$?>ELV

C<D?B:;;MR$B$WA?I$@:8=A=3$>?JAE><C$8:>G?J$?A$BC:9=CHQ:$J:IA:$?L$WDJV

>=GA;?P$8:DCfT=;<<$?A;?J<A=CH;?$A?@?3$TA?$B?J>G?<8B=9=;;M=$B$7;V

A=G;=A=$@:8=A;M=$>ELC<D:Q<<3$;=JP?AGO$;:$A?3$TA?$?;<$>?9><J:;M$,�/3

>G=9JA:BCOfA$ J?L?I$ <;N?GP:Q<?;;M=3$ ;?B?JA;M=$ P:A=G<:CM($ ZA<

>ELC<D:Q<<$<$LMC<$B?J>G?<8B=9=;M$B$7;A=G;=A=$<P=;;?$D:D$<;N?GV

P:Q<?;;M=($[?@C:J;?$K=$F=9=G:CH;?PE$p:D?;E$?L$:BA?GJD?P$>G:B=

,>G<B=9=;:$J??AB=AJABEfn:O$JA:AHO/3$@?B?G<AJO$B$8:>G?J=3$<;N?GP:V

Q<?;;M=$P:A=G<:CM$B?J>G?<8B?9OAJO$B$CfL?P$<89:;<<$L=8B?8P=89;?

,D$8:>G?JE$>G<C:@:C?JH$;=JD?CHD?$9=JOAD?B$@:8=A;MR$>ELC<D:Q<I/(

c=G=9$WDJ>=GA?P$JA?OC:3$J$?9;?I$JA?G?;M3$8:9:T:$>G?B=JA<$<JJC=V

9?B:;<=$>G<JC:;;MR$>ELC<D:Q<I$J$Q=CHf$BMOJ;<AH$<R$K:;G?BM=$>G<V

8;:D<3$ ?>G=9=C=;;M=$ ?J?L=;;?JA<$ D?P>?8<Q<<3$ JA<C<JA<T=JDEf$ R:V

SOQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SOR

1$+/0

)*6

-#4

%/)#&

+,

cG<;Q<><:CH;?$B:K;?$ET<AMB:AH$B8:<P?JBO8:;;?JAH$B;EAG<$A=DV

JA:$O8MD?BMR$WC=P=;A?B$P=K9E$J?L?I$<$J$D?P>?8<Q<?;;MP<$WC=P=;V

A:P<$9:;;?@?$A=DJA:$B$R?9=$:;:C<8:$=@?$D?P>?8<Q<?;;?VG=T=B?I$JAGEDV

AEGM$J$Q=CHf$BMOJ;<AH$9=IJAB<A=CH;MI$JPMJC$JC?B3$JC?B?J?T=A:;<I3

NG:8=?C?@<8P?B3$JC?B?N?GP3$G:8;?@?$G?9:$JC?B=J;MR$DC<r=($ZA?$:GV

R<B:K;?3$>?A?PE$TA?$JB=GRC<;<:G;M=$,D:D$@?B?GOA$C<;@B<JAM/$9=A:V

C<$ O8MD?BMR$ <$ G=T=BMR$ =9<;<Q$ B?8;<D:fA3$ ?LG:8EfAJO$ <P=;;?$ D:D

JC=9JAB<=$<R$E>?AG=LC=;<O$B$D?;A=DJA=$J$9GE@<P<$O8MD?BMP<$WC=P=;V

A:P<$B$J?JA:B=$A=DJA:$,A(=($B$J?JA:B=$J?9=GK:A=CH;?@?3$>?;OA<I;?VWP?V

Q<?;:CH;?@?3$:$T:JA?$]$>?;OA<I;?V?LG:8;?@?$=9<;JAB:3$?G@:;<8?B:;V

;?@?$B$JPMJC?B?P$?A;?r=;<<$<$D?P>?8<Q<?;;?$D:D$8:D?;T=;;?=$Q=V

C?JA;?=$G=T=B?=$>G?<8B=9=;<=/(

u:D<=$ <8P=;=;<O$ B>?C;=$ =JA=JAB=;;M$ <$ 8:D?;?P=G;M$ 9CO$ CfL?I

O8MD?B?I$=9<;<QM3$D?CH$ JD?G?$?;:$<J>?CH8E=AJO$B$G=T<($ZA?$?Ln=V

>G<;OAMI$A=8<J$A=?G<<$O8MD:($[P(3$;:>G<P=G3$EAB=GK9=;<=$DGE>;=IV

r=@?$?A=T=JAB=;;?@?$C<;@B<JA:$_(_($c?A=L;<$B$=@?$dp:><JD:R$>?$GEJV

JD?I$ @G:PP:A<D=e\$ d"=IJAB<A=CH;:O$ K<8;H�$ JC?B:$ J?B=Gr:=AJO$ B

G=T<e%&

(

XJ?L?=3$;=?LMT;?=$E>?AG=LC=;<=$JC?B:3$N?;=A<T=JD?@?$B:G<:;A:

JC?B:3$ JC?B?N?GPM3$?G<@<;:CH;?=$>?JAG?=;<=$NG:8M$?JPMJCO=AJO$B

?Ln=P$ D?;A=DJA=$ BJ=@?$ A=DJA:$ ,KEG;:C<JAJD?@?$ P:A=G<:C:$ <C<$ >ELV

C<T;?@?$BMJAE>C=;<O/$<$EK$;=>G=P=;;?$]$ J$ ET=A?P$P<DG?D?;A=DJA:

E>?AG=LC=;<O$O8MD?B?I$=9<;<QM(

#:D$JB<9=A=CHJABE=A$>G:DA<D:$8:>G?J?B$$?$>G?B=9=;<<$C<;@B<JA<V

T=JD<R$WDJ>=GA<8$J>?G;MR$A=DJA?B3$;=?LR?9<P?JAH$B$C<;@B<JA<T=JD?I

WDJ>=GA<8=$B?8;<D:=A$T:n=$BJ=@?$B$ JBO8<$ J$<JD:P<$>?$ 8:n<A=$T=JA<3

9?JA?<;JAB:3$9=C?B?I$G=>EA:Q<<$d>=GJ?;:K=Ie$KEG;:C<JAJD<R$P:A=V

G<:C?B$<$>ELC<T;MR$BMJAE>C=;<I(

S=K=$>G<B?9OAJO$C<;@B<JA<T=JD<=$WDJ>=GA<8M$J$Q=CHf$G:8G=r=;<O

:GL<AG:K;?I$J<AE:Q<<$>G<$;=?LR?9<P?JA<\

]$EOJ;<AH$A?CD?B:;<=3$ BMOJ;<AH$A?T;?=$ J?9=GK:;<=$D:D?@?VC<L?

>E;DA:3$NG:8M3$?A9=CH;?@?$JC?B:3$BMG:K=;<O3$DC<r<G?B:;;?@?$?L?V

G?A:$G=T<3$JC?K<Br=@?JO$B$9=C?BMR$LEP:@:R3$B$A=DJA=$<;JAGEDQ<<3$EJV

A:B:3$R?8OIJAB=;;?@?$9?@?B?G:3$AGE9?B?@?$J?@C:r=;<O$<$A(>(3$<JR?9O

<8$C=DJ<T=JD?@?$J?JA:B:$NG:@P=;A:$A=DJA:3$?A9=CH;?I$NG:8M3$<R$@G:PV

P:A<T=JD?@?$?N?GPC=;<O$<$JA<C<JA<T=JD?I$R:G:DA=G<JA<D<$J$ET=A?P

?Ln=@?$D?;A=DJA:$G:JJP:AG<B:=P?@?$9?DEP=;A:$<�<C<$P<DG?D?;A=DV

JA:$J>?G;?I$NG:8M$<C<$:L8:Q:3$JC?B:3$BMG:K=;<O$?N<Q<:CH;?I$LEP:V

@<3$D?A?GM=$BM8MB:fA$<R$;=>?C;?=$<C<$G:8C<T;?=$>?;<P:;<=$8:<;A=V

G=J?B:;;MP<$JA?G?;:P<^

%&$O>D5L7H3+"+"$78$8:><J?D$>?$GEJJD?I$@G:PP:A<D=($u($g]gg($a(3$-)6*($-6(

78B=JA;:O$>=B<Q:$_8<8:$ ,_(_($aER:P=9?B:/3$ B<9<P?3$;=$9?T<A:B

JA:AHf$9?$D?;Q:3$>?9:C:$ 8:OBC=;<=$B$>G?DEG:AEGE3$ AG=LEO$>G<BC=TH

:BA?G:$WA?I$JA:AH<$D$?AB=AJAB=;;?JA<$>?$JA($-%2$!#$,?JD?GLC=;<=$T=JV

A<$<$9?JA?<;JAB:/($[C=9?B:A=CH$>G?DEG:AEGM$BM;=J$>?JA:;?BC=;<=$?

>G?<8B?9JAB=$dC<;@B?VJA<C<JA<T=JD?I$WDJ>=GA<8Me$9:;;?I$JA:AH<(

_;:C<8$BJ=@?$A=DJA:$WA?I$>ELC<D:Q<<3$>G?B=9=;;MI$C<;@B<JA:P<V

WDJ>=GA:P<3$EL=9<A=CH;?$>?D:8:C3$TA?$d:BA?G$JA:AH<$[($[:9ECHJD<I

?>G?B=G@:=A$BM9B<;EA?=$B?$BJAE><A=CH;?I$T:JA<$>G=9>?C?K=;<=$?$A?P3

TA?$_8<8:$]$LCO9H3$9?D:8MB:O3$TA?$A:D?=$B?J>G<OA<=$:GA<JAD<$]$T<JA?

B;=r;==3$JBO8:;;?=$J$;=J??AB=AJAB<=P$L?@:A?@?$B;EAG=;;=@?$P<G:$>=V

B<QM$ J$ B;=r;<P$ ?LC<D?P3$ B>=T:AC=;<=P3$ D?A?G?=$ ?;:$ >G?<8B?9<A(

S:JJD:8MB:O$?$K<8;<$<$AB?GT=JAB=$>=B<QM$B$?J;?B;?I$T:JA<$JA:AH<3

:BA?G$>G<8MB:=A$B;<P:A=CH;?$>G<JP?AG=AHJO$D$_8<8=$<$;=$9:B:AH$JD?V

G?>:C<A=CH;MR$?Q=;?D3$BM8B:;;MR$;=>?;<P:;<=P$JC?K;?I$T=C?B=T=JV

D?I$;:AEGMe%2

(

cG<;Q<><:CH;MI$<;A=G=J$>G=9JA:BCO=A$:;:C<8$?A9=CH;?@?$JC?B?V

J?T=A:;<O$B$>ELC<D:Q<<$@:8=AM$d¨#?PJ?P?CHJD:O$>G:B9:©$B$cG<P?V

GH=e$d¨U:$0=G=@$U:9=K9M©$G?9;MR$;=$>EJA<C<e%-

($X;:$;:T<;:=AJO$>G=9V

C?K=;<=P\$db$P<;EBr<I$BMR?9;?I$B$U:R?9DE$D$8:9=GK:;;?PE$>?@G:V

;<T;<D:P<$G=NG<K=G:A?GE$¨0=G=@$U:9=K9M©3$@9=$8:D:;T<B:=AJO$J=IV

T:J$G:8@GE8D:$LG:D?;H=GJD?I$GML?>G?9EDQ<<3$>G<=R:C<$K=;M$GML:V

D?B$BP=JA=$J$9=AHP<�e(

b$ <JD?B?P$ 8:OBC=;<<$ p_X$ >G=9JA:B<A=CHJABE$ d¨#?PJ?P?CHJD?I

>G:B9M©$B$cG<P?GH=e$>?$>?B?9E$JC?B?J?T=A:;<O$dLG:D?;H=GJD:O$GMV

L?>G?9EDQ<Oe$@?B?G<AJO$?L$EAB=G9<A=CH;?P$R:G:DA=G=$G:J>G?JAG:;OV

=PMR$JB=9=;<I%+

(

b$WDJ>=GA<8=$9:;$D?P>C=DJ;MI$N<C?C?@<T=JD<I$:;:C<8$>G<B=9=;V

;?@?$BMr=$>G=9C?K=;<O$<$JC?B?J?T=A:;<O$dLG:D?;H=GJD:O$GML?>G?V

9EDQ<Oe($ZDJ>=GA$9=C:=A$:G@EP=;A<G?B:;;MI$BMB?9\$d7;N?GP:Q<O$?

LG:D?;H=GJD?I$>G?9EDQ<<$;=$;?J<A$R:G:DA=G:$EAB=GK9=;<O($b$GEJJD?P

O8MD=$EAB=G9<A=CH;MP$P?K=A$LMAH$A?CHD?$JEK9=;<=$,BMJD:8MB:;<=/3

;:>G<P=G\$d":;;:O$GML?>G?9EDQ<O$OBCO=AJO$LG:D?;H=GJD?Ie($b$A=DV

JA=$K=$<J>?CH8?B:;?$JC?B?J?T=A:;<=$dLG:D?;H=GJD:O$>G?9EDQ<Oe$<$?;?

;=$OBCO=AJO$D?PPE;<D:A<B;?I$=9<;<Q=I$,=9<;<Q=I$J??Ln=;<O/e%%

(

":C==$B$WA?I$WDJ>=GA<8=$,J$?>?G?I$;:$A=DJA/$9?D:8:;?($TA?$B$9:;;?P

>G=9C?K=;<<$WA?$JC?B?J?T=A:;<=$BMJAE>:=A$<P=;;?$D:D$<P=;?B:;<=

>?;OA<O$<$P?A<B<G?B:;?$J<AE:Q<=I$;:GEr=;<O$8:D?;:3$?$T=P$J??Ln:V

=AJO$B$@:8=A=(

%2$u:P$K=($[($6)(

%-$[P($dZDJ>=GA<8:$+1e$]$A:P$K=($[($-6)]-1+(

%+$[P($A:P$K=($[($-1+(

%%$u:P$K=(

SPT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SPS

1$+/0

)*6

-#4

%/)#&

+,

@G:PP:A<T=JD<R$N?GP3$>G?<8B?9;MR$JC?B$<3$J??AB=AJAB=;;?3$J$?Q=;D?I

<R$J=P:;A<D<$,8;:T=;<O/$<$JA<C<JA<T=JD?I$JA?G?;M$B$D?;A=DJA=$G:JJP:AV

G<B:=P?@?$B$WDJ>=GA;?P$8:DCfT=;<<$A=DJA:$,<C<$=@?$NG:@P=;A:/(

[??AB=AJAB=;;?$ WDJ>=GA;M=$ 8:DCfT=;<O$ OBCOfAJO$ G:8B=G;EAMP

?AB=A?P$B$G=8ECHA:A=$?LJA?OA=CH;?@?3$9=A:CH;?@?3$J$C<;@B?JA<C<JA<V

T=JD<P3$ C<;@B?A=DJA?C?@<T=JD<P$ ,<P==AJO$ B$ B<9E$ :;:C<8$ O8MD?BMR

JG=9JAB/3$<R$?G@:;<8:Q<<$B;EAG<$A=DJA:$B$EBO8D=$J$=@?$D?P>?8<Q<=I$<

D?PPE;<D:A<B;?V>G:@P:A<T=JD<P$?L?J;?B:;<=P$]$;:$8:>G?JM$JE9=LV

;MR$<;JA:;Q<I3$:9B?D:A?B3$?Ln=JAB=;;MR$?G@:;<8:Q<I$?A;?J<A=CHV

;?\$ :/$ fG<9<T=JD?I$ D?GG=DA;?JA<$ ,?JD?GLC=;<=�;=?JD?GLC=;<=3$ P?V

G:CH;MI$En=GL$C<T;?JA<3$J??AB=AJAB<=$#?;JA<AEQ<<$<$A(>(/3$P?G:CHV

;?I$BM9=GK:;;?JA<$,>G<C<T;?�;=>G<C<T;?/$?A9=CH;MR$JC?B3$BMG:K=V

;<I$B$D?;DG=A;MR$?L;:G?9?B:;;MR$P:A=G<:C:R^$L/$?$>?JAG?=;<<$NG:83

NG:@P=;A?B$A=DJA:$<$A=DJA?B$B$Q=C?P$J$A?TD<$8G=;<O$<R$JPMJC?B?@?

J?9=GK:;<O$<$WDJ>G=JJ<B;?VWP?Q<?;:CH;?I$;:>G:BC=;;?JA<($7;MP<

JC?B:P<\$J?9=GK<AJO$C<$B$>G=9C?K=;;?P$9CO$C<;@B<JA<T=JD?I$WDJ>=GV

A<8M$A=DJA=$,<C<$B$D:D?IV;<LE9H$=@?$T:JA<3$B$?A9=CH;MR$NG:8:R3$JC?V

B:R3$BMG:K=;<OR/$D:D?IVC<L?$P?G:CH;MI$En=GL$C<T;?JA<$d@=G?Oe$A:V

D?@?$P:A=G<:C:$<C<$En=GL$9=C?B?I$G=>EA:Q<<$C<Q:3$?$D?A?G?P$<9=A

G=TH$B$9:;;?I$>ELC<D:Q<<3$>ELC<T;?P$BMJAE>C=;<<3$G:B;?$D:D$P?KV

;?$C<$GC2>D85DJ$A:D?B?I$En=GL$B$G:JJP:AG<B:=P?P$A=DJA=(

��

"CO$ :;:C<A<T=JD?I$ G:L?AM$ C<;@B<JA?BVWDJ>=GA?B$ ;:9$ J>?G;MP<

A=DJA:P<3$>G=K9=$BJ=@?$>G<$<JJC=9?B:;<<$JC?B3$NG:8=?C?@<8P?B3$JC?V

B?J?T=A:;<I3$J>=Q<:CH;?$?AP=T=;;MR$B$8:>G?J:R$?$>G?B=9=;<<$JE9=LV

;?I$ C<;@B<JA<T=JD?I$ WDJ>=GA<8M$ <JDCfT<A=CH;?=$ 8;:T=;<=$ <P=fA

C<;@B<JA<T=JD<=$JC?B:G<3$>G=K9=$BJ=@?$JC?B:G<$JC?B$<$NG:8=?C?@<8V

P?B3$>?JD?CHDE3$>G=9JA:BCOO$BJ=$C=DJ<D?VNG:8=?C?@<T=JD?=$G:8;??LV

G:8<=$D?;DG=A;?@?$O8MD:$B$J:PMR$G:8;MR$:J>=DA:R$C=DJ<D?@G:N<T=JV

D?@?$?><J:;<O3$WA<$JC?B:G<$OBCOfAJO$G=8ECHA:A?P$J<JA=P:A<8<G?B:;V

;?@?$?>MA:$;:ET;?I$?LG:L?AD<$C=DJ<D?VNG:8=?C?@<T=JD?@?$J?JA:B:$B

>=GBEf$?T=G=9H$#&="02=L03(@(*ADE'2$]$B$;:r=P$JCET:=$GEJJD?@?$C<A=V

G:AEG;?@?$O8MD:3$:$A:DK=$C=DJ<D<$<$NG:8=?C?@<<$;:G?9;?VG:8@?B?GV

;?I$G=T<$<$J>=Q<:CH;?I$;:ET;?VA=R;<T=JD?I$A=GP<;?C?@<<(

_DAE:CH;?JAH$ ?LG:n=;<O$ D$ JC?B:GOP$ P;?@?DG:A;?$ B?8G:JA:=A$ B

>G?Q=JJ=$:;:C<8:$A=R$JC?B3$NG:8=?C?@<8P?B3$JC?B?J?T=A:;<I3$;:$D?A?V

GM=$?LG:n:=AJO$B;<P:;<=$B$ 8:>G?J:R$?$C<;@B<JA<T=JD?I$WDJ>=GA<8=

>?$<JD:P$?$8:n<A=$T=JA<3$9?JA?<;JAB:$<�<C<$9=C?B?I$G=>EA:Q<<$D:D$;:

J?9=GK:n<R$B$JB?=I$J=P:;A<D=3$JA<C<JA<T=JD?I$R:G:DA=G<JA<D=$,B$A?P

T<JC=$ B$ WP?Q<?;:CH;?VWDJ>G=JJ<B;MR$ ?AA=;D:R/$ ;=@:A<B;M=$ ?Q=;D<

C<T;?JA<3$>?JAE>D?B3$9=IJAB<I$<�<C<$JCEK=L;?I3$>G=9>G<;<P:A=CHJV

D?I$9=OA=CH;?JA<$d>=GJ?;:K=Ie$:;:C<8<GE=PMR$>ELC<D:Q<I3$>ELC<TV

;MR$BMJAE>C=;<I$<�<C<$;=@:A<B;Ef$<;N?GP:Q<f$?$;<R(

]$?>G=9=C<AH$K:;G?BEf$>G<;:9C=K;?JAH$A=DJA:3$=@?$?A;?r=;<=$D

A?PE$<C<$<;?PE$G?9E$C<A=G:AEGM3$><JHP=;;?JA<$B??Ln=$ ,;:>G<P=G3

RE9?K=JAB=;;?=�;=RE9?K=JAB=;;?=$>G?<8B=9=;<=3$ @:8=A;MI$P:A=G<:C

<;N?GP:Q<?;;MI�;=<;N?GP:Q<?;;MI/$B$ JBO8<$ J$ A=P<$>?C?K=;<OP<

:BA?GJD?@?$>G:B:3$?A$D?A?GMR$8:B<JOA$fG<9<T=JD<=$>?JC=9JAB<O$9CO

:BA?G:$:$A:DK=$9CO$?AB=AT<D:$>G<$A<>?C?@<T=JD?I$DB:C<N<D:Q<<$G:JV

JP:AG<B:=P?@?$A=DJA:^

]$EJA:;?B<AH$B$fG<9<T=JD<$,<C<$D?PP=GT=JD</$8;:T<PMR$J<AE:Q<V

OR$ <9=;A<T;?JAH�;=<9=;A<T;?JAH$ <P=;<$ J?LJAB=;;?@?]:;AG?>?;<P:

,<PO3$N:P<C<O$C<Q:/3$ EJC?B;?@?$;:8B:;<O$ ,;:>G<P=G3$ A?G@?B:O$P:GV

D:/3$;:8B:;<O$ETG=K9=;<O3$N<GPM$<$A(>(

#$C<;@B<JA<T=JD?I$WDJ>=GA<8=$>G<L=@:fA$<$J$Q=CHf\

]$ EJA:;?B<AH$ :EA=;A<T;?JAH�JA=>=;H$ :EA=;A<T;?JA<$ >=G=B?9:$ ;:

9GE@?I$O8MD$A=DJA:3$J?89:;;?@?$;:$O8MD=$?G<@<;:C:^

]$;:$>G=9P=A$EJA:;?BC=;<O�;=EJA:;?BC=;<O$>C:@<:A:3$:$A:DK=$:AG<V

LEQ<<$ ,:BA?GJAB:/$D?;DG=A;?@?$A=DJA:$B$9GE@<R$J>?G;MR3$>G?LC=P:V

A<T;MR$J<AE:Q<OR3$AG=LEfn<R$N<C?C?@<T=JD?@?$:;:C<8:$><JHP=;;MR

<$EJA;MR$A=DJA?B$,<P=fAJO$B$B<9E$@C:B;MP$?LG:8?P$P:A=G<:CM$>=T:AV

;MR$<$WC=DAG?;;MR$[a73$>ELC<T;M=$BMJAE>C=;<O/(

b$?LG:n=;<OR$?$>G?B=9=;<<$C<;@B<JA<T=JD?I$WDJ>=GA<8M3$D?A?GM=

>?JAE>:fA$ ?A$ fG<9<T=JD<R$ ETG=K9=;<I3$ ?A$ C<Q3$ >?JT<A:Br<R$ J=LO

>?JAG:9:Br<P<$B$G=8ECHA:A=$D?;DG=A;?I$>ELC<D:Q<<$<C<$>ELC<T;?V

@?$BMJAE>C=;<O3$?A$:BA?G?B$A:D?@?$G?9:$P:A=G<:C?B3$<nEn<R$d8:n<V

AMe$?A$?LB<;=;<O$B$;:GEr=;<<$>G:B$C<T;?JA<$L?CHr=$BJ=@?$B?>G?J?B

BM8MB:fA$JC?B:$<$BMG:K=;<O3$<R$E>?AG=LC=;<=3$d;=$EJAG:<B:fn<=e

<JAQ?B$JE9=L;MR$8:OBC=;<I$?A;?J<A=CH;?$8:n<AM$T=JA<$<$9?JA?<;JAB:

<C<$9=C?B?I$G=>EA:Q<<(

b$8;:T<A=CH;?I$T:JA<$A:D<R$?LG:n=;<I$JA:BOAJO$B?>G?JM$?A;?J<V

A=CH;?$E>?AG=LC=;<O$D?;DG=A;MR$JC?B3$JC?B?J?T=A:;<I3$NG:8=?C?@<8V

P?B3$JC?B?N?GP3$?$A?P$<C<$<;?P$<R$<JA?CD?B:;<<3$>?;<P:;<<3$T:n=

BJ=@?$J$Q=CHf$BMOJ;<AH$?JPMJC=;<=$:BA?G?P$J>?G;?@?$A=DJA:$9:;;?I

C=DJ<D?VNG:8=?C?@<T=JD?I$=9<;<QM$B$;=@:A<B;?P$>C:;=$>?$?A;?r=;<f

D$d>=GJ?;:KEe$J>?G;?I$>ELC<D:Q<<3$:$A:DK=$BMOB<AH$?AG<Q:A=CH;M=

?Q=;D<3$WDJ>G=JJ<B;M=$?AA=;D<3$JPMJC?BM=$D?;;?A:Q<<3$8:DCfT=;;M=

B$G:JJP:AG<B:=PMR$JC?B:R$<$JC?B?J?T=A:;<OR$<C<$B?8;<D:fn<=$>?9

BC<O;<=P$D?;A=DJA:3$:$A:DK=$J>=Q<:CH;MR$>G<=P?B$<R$E>?AG=LC=;<O(

U:$BA?G?P$P=JA=$]$B?>G?JM3$B$D?A?GMR$<JAQ:3$JE9$,B??Ln=$]$<;<Q<V

:A?G:$C<;@B<JA<T=JD?I$WDJ>=GA<8M/$<;A=G=JE=A$JPMJC?B?=$<�<C<$WDJ>V

G=JJ<B;?VWP?Q<?;:CH;?=$J?9=GK:;<=$?>G=9=C=;;?I$NG:8M$D:D$J:P?I

>?$J=L=3$A:D$<$B$D?;A=DJA=$<8B=JA;?@?$NG:@P=;A:$A=DJA:$,<C<$9:;;?@?

A=DJA:$B$Q=C?P/3$G:B;?$D:D$?A9=CH;?@?$NG:@P=;A:$A=DJA:(

U:$AG=AH=P$P=JA=$]$B?>G?JM3$JBO8:;;M=$J?$JPMJC?BMP$J?9=GK:;<V

=P$ <�<C<$ WDJ>G=JJ<B;?VWP?Q<?;:CH;?I$ R:G:DA=G<JA<D?I$ ;=D?A?GMR

SPh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SPI

1$+/0

)*6

-#4

%/)#&

+,

JA?G?;M$JC?B:3$;=9?JA:A?T;?$?G<=;A<G?B:AHJO$<C<$JJMC:AHJO$A?CHD?

;:$D:D?=V;<LE9H$?9;?$C=DJ<D?@G:N<T=JD?=$<89:;<=(

ZA?$ ?LEJC?BC=;?$ A=P$ <8B=JA;MP$ D:K9?PE$ N<C?C?@E$ ?LJA?OA=CHV

JAB?P3$TA?$B$G:8;MR$JC?B:GOR3$N<DJ<GEfn<R$J?BG=P=;;?=$J?JA?O;<=

C=DJ<T=JD?@?$ J?JA:B:$ ,<C<$ ?9;?I$ <JA?G<D?VC<;@B<JA<T=JD?I$ W>?R<3

<JA?G<T=JD?@?$>=G<?9:$B$G:8B<A<<$C<A=G:AEG;?@?$O8MD:/3$?A;?JOn<RJO

D$?9;?PE$A<>E$,;:>G<P=G3$A?CD?BM=$JC?B:G</$<C<$B$JC?B:GOR3$LC<8D<R

>?$;=D?A?GMP$8:9:T:P3$Q=COP$C=DJ<D?@G:N<T=JD?I$>G=8=;A:Q<<$JC?V

B:G;MR$=9<;<Q$,;:>G<P=G3$A?CD?BM=$<$9BEO8MT;M=$JC?B:G</3$;:LCfV

9:fAJO$<8B=JA;M=$G:8C<T<O$B$?><J:;<<$J=P:;A<T=JD?I$JAGEDAEGM$?9V

;?I$<$A?I$K=$JC?B:G;?I$=9<;<QM$ ,8:@?C?B?T;?@?$JC?B:/$<$?J?L=;;?

JA<C<JA<T=JD?I$R:G:DA=G<JA<D<$JC?B:$,WA?$?A;?J<AJO$A:DK=$D$?@G:;<V

T<A=CH;MP$>?P=A:P3$?AG:K:fn<P$?J?L=;;?JA<$E>?AG=LC=;<O$JC?B:$B

;=D?A?GMR$ @G:PP:A<T=JD<R$ N?GP:R3$ >G<$ ;=D?A?GMR$ J<;A:@P:A<T=JV

D<R$EJC?B<OR$<C<$JPMJC?BMR$?@G:;<T=;<OR/(

u:D:O$J<AE:Q<O$B$JC?B:G;?P$?><J:;<<$C=DJ<T=JD?@?$J?JA:B:$,<$;=

A?CHD?$B$GEJJD?I$C=DJ<D?@G:N<</$?LsOJ;O=AJO$@C:B;MP$?LG:8?P$A=P3

TA?$JC?B:G<$J?JA:BCOfAJO$D?;DG=A;MP<$<JJC=9?B:A=COP<$O8MD:3$ =@?

C=DJ<T=JD?@?$,C=DJ<D?VNG:8=?C?@<T=JD?@?/$J?JA:B:3$<P=fn<P<$G:8;M=

>G=9JA:BC=;<O$,B>G?T=P3$B$>?C;?P$J??AB=AJAB<<$J$J?BG=P=;;MP$EG?BV

;=P$C<;@B<JA<T=JD?@?$8;:;<O/$?$J?JA?O;<<$C<A=G:AEG;MR$;?GP3$?$JA<V

C<JA<T=JD?I$ JAG:A<N<D:Q<<$ C=DJ<D<$ <$ NG:8=?C?@<<$ B$ J?BG=P=;;?P

C<A=G:AEG;?P$O8MD=3$?$=@?$NE;DQ<?;:CH;?VJA<C=B?I$<$K:;G?B?I$9<NV

N=G=;Q<:Q<<3$?$J??A;?r=;<<$C<A=G:AEG;?@?$O8MD:$,=@?$C=DJ<D?VNG:V

8=?C?@<T=JD?@?$ J?JA:B:/$ J$ B;=C<A=G:AEG;?I$ JN=G?I$ ;:Q<?;:CH;?@?

O8MD:3$>?VG:8;?PE$:;:C<8<GEfn<=$<$]$ WA?$?J?L=;;?$JEn=JAB=;;?$]

>?VG:8;?PE$DB:C<N<Q<GEfn<=$JA<C<JA<T=JDEf$JA?G?;E$<$J=P:;A<T=JV

DEf$JAGEDAEGE$D?;DG=A;MR$=9<;<Q$JC?B:G;?@?$?><J:;<O(

S:8C<T<O$B$JA<C<JA<T=JD?I$<;A=G>G=A:Q<<$=9<;<Q$JC?B:G;?@?$?><V

J:;<O$B$;:ET;?I$C<A=G:AEG=$?AP=T:fAJO$9:B;?($u:D3$=n=$B$62VR$@@($��

B($ X([($ _RP:;?B:%6

$;:$L:8=$J?>?JA:BC=;<O$-'VA?P;?@?$d[C?B:GO$J?V

BG=P=;;?@?$GEJJD?@?$C<A=G:AEG;?@?$O8MD:e$ ,0_[/3$du?CD?B?@?$JC?V

B:GO$GEJJD?@?$O8MD:e$>?9$G=9($"(U($!r:D?B:3$a(3$-)%6]-)&2$,[C($!r(/3

d[C?B:GO$GEJJD?@?$O8MD:e$[(7($XK=@?B:3$+$<89($a(3$-)6+$,[X/3$dSEJV

JD?V:;@C<IJD?@?$JC?B:GOe$>?9$?Ln<P$GED?B?9JAB?P$_(7($[P<G;<QV

D?@?3$a(3$-)6+$,[C($[P<G;(/3$dSEJJD?VNG:;QE8JD?@?$JC?B:GOe$>?9$G=9(

Y(b($±=GLM3$a(3$-)%)$,[C($±(/$;:$EL=9<A=CH;?P$N:DA<T=JD?P$P:A=G<V

:C=$>?D:8:C:$G:8C<T<O$B$JA<C<JA<T=JD?I$DB:C<N<D:Q<<$JC?B$G:8@?B?GV

;?I$G=T<3$D?A?GM=$;:LCf9:fAJO$B$C=DJ<D?@G:N<T=JD<R$<89:;<OR3$?AV

G:K:fn<R$J?JA?O;<=$C=DJ<D<$?>G=9=C=;;?@?$BG=P=;;?@?$?AG=8D:(

%6$[P($+P2/7>?/3$"-"$X$JA<C<JA<T=JD?I$9<NN=G=;Q<:Q<<$JC?B$��$[L($JA:A=I$>?$O8MD?8V

;:;<f($cG?N=JJ?GE$a?JD?BJD?@?$E;<B=GJ<A=A:$:D:9=P<DE$b(b($b<;?@G:9?BE($789VB?

a4!($-)6*(

b$JBO8<$J?$JD:8:;;MP$;=?LR?9<P?$JG:8E$?@?B?G<AH$9B:$?@G:;<T=V

;<O$B$BML?G=$C=DJ<D?@G:N<T=JD?@?$<89:;<O(

-($cG<;Q<><:CH;?$B:K;?$]$<8$J??LG:K=;<I$N:DA?C?@<T=JD?I3$C<;V

@B<JA<T=JD?I3$DECHAEG;?V<JA?G<T=JD?I3$:$8;:T<A3$]$;:ET;?I$D?GG=DAV

;?JA<3$ A?T;?JA<$ >G?B?9<P?@?$ B$ R?9=$ C<;@B<JA<T=JD?I$ WDJ>=GA<8M3

:;:C<8:$,B$A?P$T<JC=$B$>=GBEf$?T=G=9H$J=P:;A<T=JD?@?$<$C<;@B?JA<V

C<JA<T=JD?@?3$:$A:DK=$A=DJA?C?@<T=JD?@?$:;:C<8:/$]$<8L=@:AH$B;=<JV

A?G<T=JD?@?$>?9R?9:$D$BML?GE$JC?B:GO(

7P==AJO$B$B<9E3$TA?$9CO$D?P>C=DJ;?@?$N<C?C?@<T=JD?@?$:;:C<8:

J?BG=P=;;?@?$A=DJA:3$?A9=CH;MR$JC?B$<$BMG:K=;<I3$E>?AG=LCO=PMR$B

J?BG=P=;;?P$A=DJA=3$;=?LR?9<P?$<J>?CH8?B:AH$A=$JC?B:G<3$B$D?A?GMR

;:R?9<A$ ?AG:K=;<=$ J?BG=P=;;?=$ J?JA?O;<=$ C=DJ<D<$ <$ NG:8=?C?@<<

GEJJD?@?$C<A=G:AEG;?@?$O8MD:3$J?BG=P=;;?=$JC?B?E>?AG=LC=;<=3$:$A:DV

K=$:DA<B;:O3$ :DAE:CH;:O$T:JAH$A?I$C=DJ<D<$<$NG:8=?C?@<<3$D?A?G:O

;:R?9<AJO$ 8:$ G:PD:P<$ C<A=G:AEG;?@?$ O8MD:$ <C<$ ;:$ =@?$ >=G<N=G<<3

?9;:D?$9?JA:A?T;?$:DA<B;:$B$J?BG=P=;;?I$G=T<3$>?CET:fn=I$dBMR?9e

B$J?BG=P=;;MR$WC=DAG?;;MR$<$>=T:A;MR$[a73$B$A=DEn=I$L=CC=AG<JV

A<D=3$B$EJA;?I$>ELC<T;?I$G=T<3$B$G:8@?B?G;?I$G=T<$C<A=G:AEG;?V?LV

G:8?B:;;MR$Cf9=I$,B$JN=G=$<R$;=N?GP:CH;?@?$G=T=B?@?$?Ln=;<O/($ZA?

?A;?J<AJO$B$>=GBEf$?T=G=9H$D$G=T=BMP$;?B:Q<OP$>?JC=9;<R$9BER$9=JOV

A<C=A<I$D$;?BMP$OBC=;<OP$B$?LC:JA<$JC?B?E>?AG=LC=;<O3$B$D?A?GMR

?AG:K:fAJO$B=9En<=$A=;9=;Q<<$<$>G?Q=JJM$WB?CfQ<<$GEJJD?@?$C<A=V

G:AEG;?@?$O8MD:$D?;Q:$��$]$;:T:C:$��g$B=D:(

cG<$?L?J;?B:;<<$>G:B<CH;?JA<�;=>G:B<CH;?JA<3$;?GP:A<B;?JA<�

;=;?GP:A<B;?JA<$E>?AG=LC=;<O$A?@?$<C<$<;?@?$JC?B:3$NG:8=?C?@<8P:

,?J?L=;;?3$=JC<$@?B?G<AJO$?$=@?$JA<C<JA<T=JD?I$R:G:DA=G<JA<D=3$WDJV

>G=JJ<B;?V?Q=;?T;?I$?DG:JD=3$:$A:DK=$?$J=P:;A<T=JD<R$?AA=;D:R/$<C<

>G<$;:LCf9=;<OR$WDJ>=GA:$?A;?J<A=CH;?$D:D<RVC<L?$;?BMR$OBC=;<I$B

?LC:JA<$JC?B?E>?AG=LC=;<O$,B$A?P$T<JC=$]$B$JN=G=$C=DJ<T=JD?I$<$@G:PV

P:A<T=JD?I$ J?T=A:=P?JA</3$ JC?B??LG:8?B:;<O$ ;=Q=C=J??LG:8;?$ JJMV

C:AHJO$;:$JC?B:G<3$?AG:K:fn<=$C=DJ<DE3$JC?B?E>?AG=LC=;<=$>G?rCMR

W>?R3$B$T:JA;?JA<3$;:$du?CD?BMI$JC?B:GH$K<B?@?$B=C<D?GEJJD?@?$O8MV

D:e$b(7($":CO$,=@?$-V=$<89:;<=$BMrC?$B$JB=A3$D:D$<8B=JA;?3$B$12VR$@?9:R

�g�$B=D:3$%V=$<$&V=$<89:;<O$>?9$G=9($7(_($0?9EW;:$9=$#EGA=;=$]$B$J:V

P?P$;:T:C=$��$B(/($U=D?GG=DA;M$B$WA?P$?A;?r=;<<$<$JJMCD<$;:$du?CV

D?BMI$JC?B:GH$GEJJD?@?$O8MD:e$>?9$G=9($"(U($!r:D?B:3$>?JD?CHDE$?;

N<DJ<GE=A$J?JA?O;<=$GEJJD?I$C<A=G:AEG;?I$C=DJ<D<$D?;Q:$+2VR$]$%2VR

@@($��$JA?C=A<O3$;:$>=GBM=$<89:;<O$d[C?B:GO$GEJJD?@?$O8MD:e$[(7(

XK=@?B:$,D?;=Q$&2VR$]$;:T:C?$12VR$@@($>G?rC?@?$B=D:/(

+($ cG<$ R:G:DA=G<JA<D=$ D?;DG=A;?@?$ JC?B:$ ,B$ P=;Hr=I$ JA=>=;<$ ]

NG:8=?C?@<8P:3$>?JD?CHDE$NG:8=?C?@<T=JD:O$C=DJ<D?@G:N<O$B$GEJJD?I

;:ET;?I$AG:9<Q<<$G:8G:L?A:;:$B$;=JG:B;=;;?$P=;Hr=I$JA=>=;<3$T=P

JC?B:G;?=$?><J:;<=$C=DJ<T=JD?@?$J?JA:B:/3$?J?L=;;?$JA<C<JA<T=JD?I

SPL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SPM

1$+/0

)*6

-#4

%/)#&

+,

Q=C?@?$ GO9:$ >?D?C=;<I$ ,B>C?AH$ 9?$ ;M;=r;=@?/$ ;?J<A=C=I$ GEJJD?@?

C<A=G:AEG;?@?$O8MD:(

[:P<P$N:DA?P$?LG:n=;<O$D$A:D<P$JC?B:GOP$WDJ>=GA$>?9T=GD<B:=A

AG:9<Q<?;;?JAH3$EJA?IT<B?JAH$9:;;?@?$>?;<P:;<O3$?JPMJC=;<O$,B$A?P

T<JC=$B$WDJ>G=JJ<B;MR3$?Q=;?T;MR$:J>=DA:R/$G:JJP:AG<B:=P?@?$JC?B:

,<C<$NG:8=?C?@<8P:/$B$GEJJD?P$C<A=G:AEG;?P$O8MD=$,>G<$WA?P$]$9CO$>?9V

AB=GK9=;<O$:DAE:CH;?JA<3$9=IJAB<A=CH;?JA<$<P=;;?$A:D?@?$J=P:;A<T=JV

D?@?$<$JA<C<JA<T=JD?@?$?LC<D:$9:;;?@?$JC?B:$B$;:JA?On==$BG=PO$]$G=V

D?P=;9E=AJO$J?JC:AHJO$;:$JC?B:G<3$G=@<JAG<GEfn<=$JC?B?E>?AG=LC=V

;<=$d;:r<R$9;=Ie($u:D?BM3$;:>G<P=G3$JC?B:\$?>DE17/$,B$>GOP?P$<$>=G=V

;?J;?P$]$TA?$:DAE:CH;?$9CO$J?BG=P=;;?JA<$]$8;:T=;<OR/3$1=8/$]$B$8;:T=V

;<<$<;AG<@<3$A:I;M=$8:PMJCM3$@F1@/S3Y85CDGY71@S3Y85CDGY7ABS375@1BS

@/@>BND>S3V/P?/D1DJS3Y>CH=7GDJS3Y>Y8/DJS3D58V/DJS37/0G?/DJ$,?LP:;EAH3

>G?B=JA</3$P1Z71@S3CY5@GFH7D$<$A(>(3$?><J:;<=$D?A?GMR$P?K;?$B8OAH$<8

[C?B:GO$!r:D?B:$<C<$<8$0_[$,>G<B=9=;;M=$89=JH$JC?B:$]$<8$A=DJA?B3

>G=9C?K=;;MR$;:$C<;@B<JA<T=JDEf$WDJ>=GA<8E/^$EJA?IT<B?=$J?T=A:;<=

E587>53V>F>D>$,J?B=Gr=;;?$?L?J;?B:;;?$B$?9;?I$<8$WDJ>=GA<8%1

$WDJ>=GV

AM$B?J>?CH8?B:C<JH$A?CD?B:;<=P$WA?@?$NG:8=?C?@<8P:$B$0_[/(

c?D:8:A=CH;MP$>G=9JA:BCO=AJO$:;:C<8$E>?AG=LC=;<O$JC?B:$CY5@GN

FH7D$B$@:8=A;?I$>ELC<D:Q<<$,JP($dZDJ>=GA<8:$+e$B$%V=P$<89:;<<$D;<@<

d�=;:$JC?B:e($a(3$ +22+%'

($b$ JC=9Efn=P$NG:@P=;A=$ WA?I$>ELC<D:Q<<

T<A:=P\$d�>?$<JDE$@G($4G<@?GHO;Q:$[(7($WA?PE$J>=DECO;AE$,A(=($<JAQE$]

`(0(/$D:GA<;:P<$<$<D?;:P<�$B?8BG:n:fAJO$6$<D?;3$?A;OAMR$B$JB?=

BG=PO$:N=G<JA?P$E$RG:P:�e(

ZDJ>=GAM$_(U($0:G:;?B$<$`(_($[:N?;?B:$><rEA\$db$9:;;?P$NG:@V

P=;A=$ JC?B?$ CY5@GFH7D$ E>?AG=LC=;?$B$ 8;:T=;<<\$¨t=C?B=D3$D?A?GMI

8:;<P:=AJO$J>=DECOQ<=I3$JDE>D?I$<$>=G=>G?9:K=I$<PEn=JAB:3$Q=;;?JV

A=I$J$Q=CHf$;:K<BM©$ ,JP(\$XK=@?B$[(7($<$�B=9?B:$U(`($u?CD?BMI

JC?B:GH$GEJJD?@?$O8MD:($a(3$-))'3$J($'6&/($"GE@?=$;=?Q=;?T;?=$8;:T=V

;<=$WA?@?$JC?B:$B$WA?I$NG:8=$;=B?8P?K;?3$>?JD?CHDE$?;?$>G=9>?C:@:V

=A$9GE@Ef$J?T=A:=P?JAH3$;:>G<P=G\$ CY5@GFH7D3/@Q1H21S3>LF1=/Q1H21^

CY5@GFH7D37/36>70>?>B3L18[5"3X9;:D?$B$JA:AH=$_($0?LG?B$<J>?CH8E=A

JC?B?J?T=A:;<=$ CY5@GFH7D3 @/8D17/213$ D?A?G?=$ ?9;?8;:T;?$ ?A;?J<A

E>?AG=LC=;<=$JC?B:3CY5@GFH7D$D$8;:T=;<f\$¨t=C?B=D3$D?A?GMI$8:;<V

P:=AJO$J>=DECOQ<=I3$JDE>D?I$<$>=G=>G?9:K=I$<PEn=JAB:3$Q=;;?JA=I$J

Q=CHf$;:K<BM©e%*

(

#:D$B<9<P3$:;:C<8<GEO$E>?AG=LC=;<=$ JC?B:$ CY5@GFH7D3$ WDJ>=GAM

>G<;<P:fA$B?$B;<P:;<=3$ J$?9;?I$JA?G?;M3$D?;A=DJA$NG:8M$<$NG:@V

P=;A:3$ B$D?A?GMR$<J>?CH8?B:;:$9:;;:O$C=DJ=P:($[$9GE@?I$JA?G?;M3

9CO$9?D:8:A=CHJAB:$A?@?3$TA?$JC?B?$CY5@GFH7D$E>?AG=LC=;?$<P=;;?$J

%1$[P(\$�=;:$JC?B:($%V=$<89(3$<J>G($<$9?>($a(3$+22+(

%'$[P(\$u:P$K=($[($&-]&6(

%*$u:P$K=($[($&&(

U:>G<P=G\

!-R R] R#,*Ua, R#,*RJ&03, R#,*�,

L/L/ B$>G?JA?G=T( ?LC($< >G?JA?G=T(3 EJA;(3 <G?;(3

>G?JA?G=T( BECH@(3 >G=;=LG(3 >G=;=LG(

G:8@( G:8@(

L/FL5C B$>G?JA?G=T( >G?JA?G(3 G:8@(3$LG:;(3 G:8@(3 N:P<CHOG;(

J$>G=8G<A( >G=8G<A( >G=8G<A( LG:;;?=

?AA=;D?P

L/8/PF> B$>G?JA?G=T( >G?JA?G(3 LG:;(3 G:8@( G:8@(

>G=;=LG( BECH@(3$G:8@(3

>G?JA?G=T(

_;:C?@<T;:O$J<AE:Q<O$;:LCf9:=AJO$<$B$J?BG=P=;;MR$JC?B:GOR$GEJV

JD?@?$O8MD:(

tA?$D:J:=AJO$G:8C<T<I$B$<;A=G>G=A:Q<<$J=P:;A<T=JD?I$JAGEDAEGM

JC?B3$?@G:;<T<PJO$ED:8:;<=P$;:$A?CD?B:;<=$@C:@?C:$10D1$,1DD1/$B$[C(

!r($<$B$d[C?B:G=$GEJJD?@?$O8MD:e$>?9$G=9($_(c($�B@=;H=B?I3$A($-3$a(

-)*-$,a_[V+/\$B$[C($!r($9:;?$&23$:$B$a_[V+$]$+6$8;:T=;<I$WA?@?$JC?B:(

b$B?>G?J:R$ 8:D:8T<D?B$C<;@B<JA<T=JD<R$ WDJ>=GA<8$?A;?J<A=CH;?

?A9=CH;MR$JC?B$<$BMG:K=;<I$N<@EG<GEfA\

-/$C=DJ<D?VNG:8=?C?@<T=JD<=$ =9<;<QM3$AG:9<Q<?;;M=3$9:B;?$<C<

JG:B;<A=CH;?$9:B;?$NE;DQ<?;<GEfn<=$B$GEJJD?P$C<A=G:AEG;?P$O8MV

D=3$?LC:9:fn<=$JA:L<CH;?I3$EJA?IT<B?I$J=P:;A<D?I3$J?$JC?K<Br=IV

JO$ JA<C<JA<T=JD?I$R:G:DA=G<JA<D?I3$B>?C;=$?JB?=;;M=$?Ln=C<A=G:V

AEG;MP$E>?AG=LC=;<=P3$;:>G<P=G\$L/701DS3?>8S35017ABS35017CD?577ABS

V/P?/D1DJS3 F1E7>CDJS3 @8GD1DJCHS3 8G@>?>01DJS3 /6581CDS3 01F5D/7DS

5Y/8P1HS32/7JH@S3Q171V2$<$A(>(

+/$;?BM=$G=T=BM=$OBC=;<O\$dB;EAG=;;<=e$8:<PJAB?B:;<O$B$C<A=G:V

AEG;?P$O8MD=$,@C:B;MP$?LG:8?P$<8$K:G@?;?B/3$;=$?JB?=;;M=$?Ln=C<V

A=G:AEG;MP$E>?AG=LC=;<=P$<�<C<$EK=$>?9B=G@r<=JO$>G?Q=JJE$>G<J>?V

J?LC=;<O$D$C<A=G:AEG;?PE$O8MDE$ ,@17GDJ$ D?@?VC<L?3$ V/@/V/DJ$ D?@?V

C<L?3$8/VL>8@/S3L5CY8505F/^$A:D<=$;=?C?@<8PM$D:D$052I1V/S3058J2>@8/N

DAS3Y8>@/E1?/DJS37/F$,B$J?JA:B=$EJA?IT<B?@?$J?T=A:;<O$E587AB$;:C/(

cG<$:;:C<8=$JC?B$>=GB?I$@GE>>M$P?K;?$?LG:n:AHJO$<$D$;=J?BG=V

P=;;MP$JC?B:GOP$,<P=fAJO$B$B<9E$>G=K9=$BJ=@?$A?CD?BM=$JC?B:G</$]

D$du?CD?B?PE$JC?B:Gf$GEJJD?@?$O8MD:e$>?9$G=9($"(U($!r:D?B:3$d[C?V

B:Gf$J?BG=P=;;?@?$GEJJD?@?$C<A=G:AEG;?@?$O8MD:e3$ d[C?B:Gf$GEJV

JD?@?$O8MD:$>?9$G=9($_(c($�B@=;H=B?I3$9:K=$D$[C?B:Gf$":CO$<$d[C?V

B:Gf$GEJJD?@?$O8MD:e$4G?A:V�:RP:A?B:($ZA?$JBO8:;?$J$A=P3$TA?$JC?V

B:$9:;;?I$@GE>>M$<P=fA$EJA?IT<BEf$J=P:;A<DE3$EJA?IT<BM=3$9:B;?

JC?K<Br<=JO$WDJ>G=JJ<B;Ef$?DG:JDE3$J?Q<:CH;M=$<$WDJ>G=JJ<B;?VWP?V

Q<?;:CH;M=$ ?Q=;D<3$ 8:DG=>C=;;M=$ AG:9<Q<=I$ E>?AG=LC=;<O$ B$ G=T<

SPO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SPP

1$+/0

)*6

-#4

%/)#&

+,

C=;<O$JC?B3$ JC?B?J?T=A:;<I$B$G=T<$ ,B$A=DJA=/$>?9$BC<O;<=P$P:DG?V$<

P<DG?D?;A=DJA:$9:;;?@?$G=T=B?@?$>G?<8B=9=;<O$B$G:8B<A<=$A=R$8;:T=V

;<I$<$JA<C<JA<T=JD<R$JB?IJAB3$D:T=JAB3$WDJ>G=JJ<B;?V?Q=;?T;?I$?DG:JV

D<3$D?A?GM=$E$;<R$JC?K<C<JH$B$J?BG=P=;;?I$G=T=B?I$D?PPE;<D:Q<<3$B

;:r=P$JCET:=$]$B$J?BG=P=;;?P$GEJJD?P$O8MD=%)

(

[C?K<Br<=JO$B$C<A=G:AEG;?P$O8MD=$J=P:;A<D:3$ JA<C<JA<D:3$ JC?V

B=J;M=$ <$ @G:PP:A<T=JD<=$ JBO8<$ C=DJ<D?VNG:8=?C?@<T=JD<R$ =9<;<Q3

?Ln<=$D?;AEGM$<R$E>?AG=LC=;<O3$?GN?W><T=JD<I$?LC<D3$?J?L=;;?JA<

@G:PP:A<T=JD?@?$?N?GPC=;<O$B$A<><T=JD<R$D?;A=DJA:R$<$ J<AE:Q<OR

J?BG=P=;;?I$G=T=B?I$D?PPE;<D:Q<<$G=@<JAG<GEfAJO$B$JC?B:GOR$G:8V

;MR$A<>?B3$B$:D:9=P<T=JD?I$@G:PP:A<D=3$B$G:8;?@?$G?9:$C<;@B<JA<V

T=JD<R$J>G:B?T;<D:R3$?;<$<JJC=9EfAJO$B$J=GH=8;MR$;:ET;MR$AGE9:R(

b$Q=COR$A?T;?JA<$<$?>G=9=C=;;?JA<$?AB=A:$?A;?J<A=CH;?$J=P:;A<V

D<$<$JA<C<JA<T=JD?I$R:G:DA=G<JA<D<$JC?B3$BMG:K=;<I3$<;A=G=JEfn<R

8:D:8T<D:$C<;@B<JA<T=JD?I$WDJ>=GA<8M3$C?@<T;?$<$=JA=JAB=;;?$?LG:V

n=;<=$D$A?CD?BMP$JC?B:GOP3$D$JC?B:GOP$<;?JAG:;;MR$JC?B3$D$JC?B:V

GOP$A=GP<;?C?@<T=JD<P$<�<C<$W;Q<DC?>=9<T=JD<P$,=JC<$G=TH$<9=A$?

J>=Q<:CH;?P$A=GP<;=/3$D$NG:8=?C?@<T=JD<P3$D$JC?B:GOP$;=?C?@<8P?B3

K:G@?;;?I$C=DJ<D<$<$NG:8=?C?@<<$,=JC<$G:JJP:AG<B:fAJO$K:G@?;<8V

PM/3$D$ JC?B:GOP$J<;?;<P?B3$:;A?;<P?B3$>:G?;<P?B3$D$ JC?B:GOP$A:D

;:8MB:=P?I$;=;?GP:A<B;?I$C=DJ<D<

�JC<$G:JJP:AG<B:fAJO$JC?B:$>=GB?I$<8$;:P=T=;;MR$BMr=$@GE>>3

A(=($JC?B:$J$AG:9<Q<?;;?I$J=P:;A<D?I$<$JC?K<Br=IJO3$EJA?IT<B?I$JA<V

C<JA<T=JD?I$R:G:DA=G<JA<D?I3$B?8P?K;?3$D:D$?AP=T:C?JH3$?LG:n=;<=

D$;=J?BG=P=;;MP$JC?B:GOP($bP=JA=$J$A=P$9CO$>?9AB=GK9=;<O$dJ?BG=V

P=;;?JA<e$ J=P:;A<D<3$ JA<C<JA<T=JD?@?$?LC<D:3$ J<;A:@P:A<T=JD<R$<

>:G:9<@P:A<T=JD<R$ JBO8=I$ G:JJP:AG<B:=P?@?$ JC?B:$ Q=C=J??LG:8;?

>G<B=JA<$d>?D:8:;<Oe$J?BG=P=;;MR$C=DJ<D?@G:N<T=JD<R$<89:;<I3$?AV

G:K:fn<R$:DAE:CH;Ef$9CO$GEL=K:$��]��g$JA?C=A<O$C=DJ<DE3$B$A?P

T<JC=$<$E>?AG=LC=;<=$AG:9<Q<?;;MR$JC?B($[P(3$;:>G<P=G3$JJMCD<$;:

[C?B:GH$!r:D?B:3$ d[C?B:GH$ J?BG=P=;;?@?$GEJJD?@?$C<A=G:AEG;?@?

O8MD:e$B$+2VA<$A?P:R3$J$?9;?I$JA?G?;M3$<$;:$du?CD?BMI$JC?B:GH$GEJV

JD?@?$O8MD:$[(7($XK=@?B:$<$U(`($�B=9?B?I3$<89:;;MI$B$-))'$@(3$B

R?9=$ :;:C<8:$ JC?B$ ?>DE17/$ ,JP($ ZDJ>=GA<8:$ -$ B$ %V=P$ <89:;<<$ D;<@<

d�=;:$JC?B:e&2

/$<$?>83,JP($ZDJ>=GA<8:$%$B$A?I$K=$D;<@=/&-

($b$?AB=A=$;:

8:>G?J$d[AG:R?B?@?$?Ln=JAB:$[U4e$d9:AH$?N<Q<:CH;?=$A?CD?B:;<=

>?;OA<I$d=9<;JAB=;;MIe$<$d=9<;MIe$WDJ>=GA$?><G:=AJO$;:$N?GPEC<V

G?BD<$8;:T=;<I$JC?B$5017CD?577AB$<$5017AB$B$[C?B:G=$!r:D?B:$<$B

d[C?B:G=$GEJJD?@?$O8MD:e3$<89:;;?@?$B$-)6']-)1-$@@($"CO$>?9AB=GKV

%)$X$D?;;?A:Q<<$JP(\$->F=/71@3("c"$#?;;?A:Q<O$��$#ECHAEG:$GEJJD?I$G=T<($Z;Q<DC?>=V

9<T=JD<I$JC?B:GHVJ>G:B?T;<D($a(3$+22%($[($+16]+11(

&2$[P(\$�=;:$JC?B:($%V=$<89(3$<J>?($<$9?>($a(3$+22+($[($%']%*(

&-$[P(\$A:P$K=($[($&*(

ED:8:;;MP$<P<$8;:T=;<=P$WDJ>=GAM$?LG:n:fAJO$D$?9;?PE$<8$B:K;=IV

r<R$JB?IJAB3$?;A?C?@<T=JD<$>G<JEn<R$C=DJ<T=JD?I$=9<;<Q=3$BJOD?PE

JC?BE/$]$D$=@?$J?T=A:=P?JA<$J$9GE@<P<$JC?B:P<$,L=8$T=@?$JC?B?$;=$P?V

K=A$NE;DQ<?;<G?B:AH$B$G=T<$]$D$=@?$J<;A:@P:A<T=JD<P$JBO8OP3$?>G=V

9=COfn<P3$;:GO9E$J$9GE@<P<$N:DA?G:P<3$<J>?CH8?B:;<=$JC?B:$J$A=P

<C<$<;MP$8;:T=;<=P/(

S:L?A:$J$C=DJ<D?VNG:8=?C?@<T=JD<P<$=9<;<Q:P<$BA?G?I$@GE>>M$]

J$G=T=BMP<$;?B:Q<OP<$GEL=K:$��]��g$B=D?B3$>G=9>?C:@:=A$>G?N=JV

J<?;:CH;Ef$?G<=;A<G?B:;;?JAH$WDJ>=GA?B3$B?V>=GBMR3$B$GEJJD?I$G=V

T=B?I$D?PPE;<D:Q<<$>?JC=9;<R$C=A3$B?VBA?GMR3$B$JC?B:GOR$G:8;MR$A<V

>?B3$ B$ D?A?GMR$ ,<$ B$ C<A=G:AEG=$ B?>G?J:/$ ;:R?9<A$ ?AG:K=;<=$ J?BG=V

P=;;?=$JC?B?E>?AG=LC=;<=(

S:L?A:$J?$JC?B:GOP<$B$JBO8<$J$?AB=A:P<$;:$B?>G?JM3$>?JA:BC=;;M=

8:D:8T<D?P$C<;@B<JA<T=JD?I$WDJ>=GA<8M3$<P==A$9B:$:J>=DA:(

c=GBMI$:J>=DA$?>G=9=CO=AJO$B?>G?J:P<3$B$D?A?GMR$>GOP?$J>G:r<V

B:=AJO3$TA?$8;:T<A3$D:D<=$8;:T=;<O$<P==A$A?$<C<$<;?=$JC?B?$ ,<;?@9:

J>G:r<B:fA$?$JPMJC?B?P$J?9=GK:;<<$D:D?@?VC<L?$>?;OA<O/3$NG:8=?V

C?@<8P3$JC?B?J?T=A:;<=$,;=G=9D?$N?GPEC<GE=AJO$9?>?C;<A=CH;MI$B?>V

G?J$?A;?J<A=CH;?$JA<C<JA<T=JD?I$R:G:DA=G<JA<D<3$WDJ>G=JJ<B;?I$?DV

G:JD<3$?Q=;D<3$9GE@<R$BMG:8<A=CH;MR$JB?IJAB:R$J??AB=AJABEfn=I$C=DV

J<D?VNG:8=?C?@<T=JD?I$=9<;<QM$<C<$JC?B?J?T=A:;<O/(

"GE@?I$:J>=DA$G:L?AM$;:9$C<;@B<JA<T=JD?I$WDJ>=GA<8?I3$;=JG:B;=;V

;?$L?C==$JC?K;MI$<$;:<L?C==$?AB=AJAB=;;MI3$>G=9>?C:@:=A$<;A=G>G=V

A:Q<f$>G=9C?K=;;?@?$9CO$WDJ>=GA<8M$A=DJA:3$=@?$NG:@P=;A?B3$?A9=CHV

;MR$JC?B3$NG:8=?C?@<8P?B3$JC?B?J?T=A:;<I($c?$JEn=JABE$G=TH$<9=A$?

J?9=GK:A=CH;?P$<$C<;@B?JA<C<JA<T=JD?P$:;:C<8=$A=DJA:3$J?JA:BCOfn<R

=@?$T:JA=I$,NG:@P=;A?B/$<$C=DJ<D?VNG:8=?C?@<T=JD?@?$P:A=G<:C:(

b?A$<P=;;?$B$ WA?P$d>E;DA=e$<JJC=9?B:;<O$ J>?G;MR$A=DJA?B$?J?V

L=;;?$:DAE:C<8<GEfAJO$A:D<=$?J;?B?>?C:@:fn<=$A=8<JM$@=GP=;=BA<V

D<3$D:D$;=?LR?9<P?JAH$<JR?9<AH$<8$A?@?3$TA?\

:/$J?JA:BCOfn<=$A=DJA$O8MD?BM=$=9<;<QM3$>G<=PM3$J>?J?LM$<R$<JV

>?CH8?B:;<O3$?G@:;<8:Q<<$B$G:PD:R$9:;;?@?$G=T=B?@?$>G?<8B=9=;<O3

B8:<P?JBO8:;M$<$J??A;=J=;M$9GE@$J$9GE@?P3$:$G=T=B:O$JAGEDAEG:$A=DJA:

B$Q=C?P3$?A9=CH;M=$==$D?P>?;=;AM$A=J;?$EBO8:;M$J$D?P>?8<Q<=I$WA?@?

K=$A=DJA:^$L/$D:K9:O$O8MD?B:O$9=A:CH$A=DJA:$B?J>G<;<P:=AJO$<$?Q=;<B:V

=AJO$B$D?;A=DJA=$Q=C?@?$A=DJA:$,=@?$J?9=GK:;<O3$JA<C<JA<T=JD?@?$?N?GV

PC=;<O$<$D?P>?8<Q<</3$:$A:DK=$B$G:PD:R$P<DG?D?;A=DJA:$,;=>?JG=9JAB=;V

;?@?$NG:8?B?@?3$:L8:Q;?@?$?DGEK=;<O$JC?B:3$JC?B?J?T=A:;<O3$@G:PP:V

A<T=JD?I$N?GPM3$D?;DG=A;?@?$>G=9C?K=;<O^$B/$O8MD?BM=$=9<;<QM$,?J?V

L=;;?$JC?B:$NG:8=?C?@<8PM$B$D?;A=DJA=$J$9GE@<P<$O8MD?BMP<$JG=9JAB:V

P<$G:JJP:AG<B:=P?@?$A=DJA:$>G<?LG=A:fA3$P?@EA$>G<?LG=A:AH$D?;;?V

A:Q<<$ ,?A$C:A($vw��w��v�w$]$ ³<P=f$9?>?C;<A=CH;?=$8;:T=;<=´/3$A(=($9?V

>?C;<A=CH;M=$JPMJCM3$JA<C<JA<T=JD<=$?AA=;D<$B$G=8ECHA:A=$E>?AG=LV

SPQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SPR

1$+/0

)*6

-#4

%/)#&

+,

>D2A?/DJ$B$;?B?P$8;:T=;<<$³C=@:CH;MP$?LG:8?P$<JAG:A<AH$;=8:D?;V

;?$;:K<AM=$9=;H@<3$JG=9JAB:$,>G?JA(/´$]$;:$A?A$K=$[C?B:GH$XK=@?B:$<

�B=9?B?I62

$,JG(3$B>G?T=P3$L?C==$A?T;?=$A?CD?B:;<=$<$9<NN=G=;Q<G?V

B:;;?=$?><J:;<=$WA?@?$@C:@?C:$B$A?CD?B?P$JC?B:G=$GEJJD?@?$?Ln=@?

K:G@?;:$d[C?B:3$ J$D?A?GMP<$PM$BJ=$BJAG=T:C<JHe$X(c($�GP:D?B?I3

�(_($p=PJD?I3$S(7($S?8<;?I3$>?9$?Ln<P$GED?B?9JAB?P$S(7($S?8<;?I\

d]=JE=$l4A}$t:JA?$>G=8G�$-($X$9=;H@:R3$@GO8;MP$9=;H@:P3$>?CET=;V

;MP$;=8:D?;;?3$>G<9:AH$B<9$>?CET=;;MR$8:D?;;?3$J9=C:AH$¨T<JAMP<©3

>G?B=9O$<R$>?$D:D<PV;($9?DEP=;A:Pe6-

3$BMG:K=;<O$>D2ADJe>D2A?/DJ

,@GO8;M=/$9=;H@<$]$B$[C?B:G=$>?9$G=9:DQ<=I$[DCOG=BJD?I6+

(

XA;?J<A=CH;?$G:L?AM$J?$JC?B:GOP<$B$JBO8<$J?$BA?GMP$<8$;:P=T=;V

;MR$89=JH$:J>=DA?B$:;:C<8:$A=DJA?B3$>G=9C:@:=PMR$8:D:8T<D:P<$C<;@V

B<JA<T=JD<R$WDJ>=GA<83$B:K;?$?LG:A<AH$B;<P:;<=$;:$ JC=9Efn==$?LV

JA?OA=CHJAB?(

b$C<;@B<JA<T=JD<R$WDJ>=GA<8:R$B$JBO8<$J$<;N?GP:Q<?;;MP$J>?G?P

T:n=$BJ=@?$JA:BOAJO$B?>G?JM$?A;?J<A=CH;?$JA<C<JA<T=JD?I$,B$A?P$T<JV

C=$]$WDJ>G=JJ<B;?V?Q=;?T;?I/$R:G:DA=G<JA<D<$<$JPMJC?B?@?$J?9=GK:V

;<O$?A9=CH;MR$JC?B3$NG:8=?C?@<8P?B3$NG:8$B$D?;A=DJA=$?>G=9=C=;;?V

@?$NG:@P=;A:$9:;;?I$>ELC<D:Q<<$]$J$Q=CHf$BMOJ;<AH$WA<T=JD<$<�<C<

fG<9<T=JDEf$D?GG=DA;?JAH$BMG:K:=P?I$9:;;?I$C=DJ<D?VNG:8=?C?@<V

T=JD?I$=9<;<Q=I3$NG:8?I$R:G:DA=G<JA<D<$D?;DG=A;?@?$C<Q:$<C<$@?V

JETG=K9=;<O3$T:JA;?I$N<GPM$<$A(>(

b$ R?9=$ WDJ>=GA<8M$ G=TH$ <9=A3$ A:D<P$ ?LG:8?P3$ ?L$ <;A=G>G=A:Q<<

D?;DG=A;?@?$A=DJA:3$=@?$NG:@P=;A?B$<$?A9=CH;MR$,?LMT;?$DCfT=BMR3

?>?G;MR$9CO$9:;;?@?$A=DJA:/$C=DJ<D?VNG:8=?C?@<T=JD<R$=9<;<Q(

_;:C<8<GEO$JA<C<JA<T=JDEf3$WDJ>G=JJ<B;?V?Q=;?T;Ef$R:G:DA=G<V

JA<DE$<�<C<$JPMJC?B?=$J?9=GK:;<=$>G=K9=$BJ=@?$C=DJ<D?VJ=P:;A<T=JV

D?I$JA?G?;M$JC?B:3$:$A:DK=$NG:8=?C?@<8P:3$JC?B?J?T=A:;<O3$;:$D?A?V

GM=$?LG:n:=A$B;<P:;<=$8:D:8T<D$WDJ>=GA<8M3$<$A=R$C=DJ<D?VNG:8=?V

C?@<T=JD<R$=9<;<Q3$D?A?GM=$B:K;M$9CO$:;:C<8:$>G=9C?K=;;?@?$A=DV

JA:3$WDJ>=GA$>G?B?9<A$P<DG?<JJC=9?B:;<=$J>?G;?@?$A=DJA:\$E>?AG=LV

C=;<=$ B$ ;=P$ C=DJ<D?VNG:8=?C?@<T=JD<R$ =9<;<Q$ <$ A=R3$ ?A;?J<A=CH;?

D?A?GMR$>?JA:BC=;M$B?>G?JM$8:D:8T<D?P3$<$A=R3$D?A?GM=$;EK;M$9CO

>?C;?AM$:;:C<8:$A=DJA:$B$D?;A=DJA=$9:;;?I$>ELC<D:Q<<$<$]$WA?$@C:BV

;?=$]$B$JBO8<$J$?Q=;D?I3$R:G:DA=G<JA<D?I$D?;DG=A;MR$C<Q(

b$J<CE$JD:8:;;?@?$?$J>=Q<N<T;?JA<$ ,:9G=J;:O$D?;DG=A<8:Q<O/$<JV

JC=9E=PMR$A=DJA?B3$C<;@B?JA<C<JA<T=JD?@?$<$JPMJC?B?@?$:;:C<8:$?AV

9=CH;MR$C=DJ<D?VNG:8=?C?@<T=JD<R$=9<;<Q$A:D<R$A=DJA?B$B$C<;@B<JA<V

T=JD<R$WDJ>=GA<8:R$9?CK;?$LMAH$OJ;?3$TA?$C<;@B<JA<T=JD<=$JC?B:G<

62$$[5=>?3-"#"3134?50>?/3!"M"$!D:8($J?T($[($&'6(

6-$,82/@>?/3$"O"S3^52C@/H3,"+"S3)>V17/3)"#"$[C?B:3$J$D?A?GMP<$PM$BJ=$BJAG=T:C<JH($a(3

-)))($[($-%*]-%)(

6+$u?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:$D?;Q:$��$JA?C=A<O($[($+2-(

9=;<O$K=$:DAE:CH;?JA<$J=P:;A<D<$WA<R$JC?B$B$;:JA?On==$BG=PO$LMC<

<J>?CH8?B:;M$>?D:8:;<O$du?CD?B?@?$JC?B:GO$GEJJD?@?$O8MD:e$[(7(

XK=@?B:$<$U(`($�B=9?B?I3$a(3$-))'$<$d[C?B:GO$>:G?;<P?B$GEJJD?@?

O8MD:e$`(_($0=CHT<D?B:$<$a([($c:;fr=B?I3$a(3$+22+(

a=K9E$A=P$B$ZDJ>=GA<8=$+)$,B?$+VP$<89:;<<$D;<@<$d�=;:$JC?B:e/&+

3

:;:C<8<GEO$JC?B?J?T=A:;<=$L8/@>7J58C@/H38AL>Y8>0GDQ<O3$B$A?CD?B:V

;<<$ B>?C;=$ AG:9<Q<?;;?@?$ >G<C:@:A=CH;?@?$ L8/@>7J58C@1B$ WDJ>=GA

?><G:=AJO$ A?CHD?$ ;:$ >?D:8:;<O$ J?BG=P=;;?@?$ JC?B:GO$ ;:$ dSEJJD<I

A?CD?BMI$JC?B:GHe$b(b($Y?>:A<;:$<$Y(�($Y?>:A<;?I$,a(3$-))*/\$d!02N

'(3$"04=)(}$XR?A:$<C<$C?BCO$GMLM$B$8:>G=n=;;MR$P=JA:R3$B$8:>G=V

n=;;?=$BG=PO3$8:>G=n=;;MP$J>?J?L?P3$:$A:DK=$;=9?8B?C=;;:O$>?GELV

D:$C=J:e&%

($ZA?$?LsOJ;O=AJO$A=P3$TA?$J=P:;A<D:$JEn=JAB<A=CH;MR$L8/N

@>7J58CD?>S3 L8/@>7J58$ <$ J??AB=AJAB=;;?$ >G?<8B?9;?@?$ ?A$ L8/@>7J58

>G<C:@:A=CH;?@?$L8/@>7J58C@1B$B?$BA?G?I$>?C?B<;=$��$B=D:$;=JD?CHV

D?$P?9<N<Q<G?B:C:JH$B$ JA?G?;E$G:Jr<G=;<O$9=N<;<Q<<$>?$JG:B;=V

;<f$J$%2]62VP<$@?9:P<($[G($A?CD?B:;<=$JC?B$L8/@>7J58S3L8/@>7J58CD?>

B$[C?B:G=$!r:D?B:\$d!02'(3$"0}$t=C?B=D3$8:;<P:fn<IJO$;=9?8B?V

C=;;?I$?R?A?I$;:$TEK?I$8=PC=($0G:D?;H=GJAB?�$p:;OA<=$LG:D?;H=V

G:e&&

$<$B$-VP$<89:;<<$d[C?B:GO$GEJJD?@?$O8MD:e$>?9$G=9($_(c($�B@=;HV

=B?I\$d!02'(3$"0}$u?A3$DA?$8:;<P:=AJO$LG:D?;H=GJAB?P�$!02'(3$N

"04=)(}$XR?A:$B$8:>G=n=;;MR$P=JA:R$B$8:>G=n=;;M=$JG?D<$<C<$8:>V

G=n=;;MP<$J>?J?L:P<e&6

(

[>G:BD:$?$JC?B?E>?AG=LC=;<<$d;:r<R$9;=Ie3$?$;?BMR$C=DJ<D?VNG:V

8=?C?@<T=JD<R$=9<;<Q:R$,B$A?P$T<JC=$?$K:G@?;<8P:R$<$B:GB:G<8P:R3

>?CET<Br<R$<8B=JA;?=$G:J>G?JAG:;=;<=$B$J?BG=P=;;?I$G=T=B?I$D?PV

PE;<D:Q<</3$:$A:DK=$?$JC?B:R$<$EJA?IT<BMR$J?T=A:;<OR3$>?CET<Br<R

;?B?=$?JPMJC=;<=$<�<C<$WDJ>G=JJ<B;Ef$?DG:JDE3$?J;?BMB:=AJO$;:$>?V

D:8:;<OR$ A=R$ C=DJ<D?@G:N<T=JD<R$ <89:;<I3$ D?A?GM=$ >?JBOn=;M$ ;?V

BMP$OBC=;<OP$B$?LC:JA<$C=DJ<D<$<$NG:8=?C?@<<$<C<$;:$A:D<R$<89:;<V

OR3$D:D$du?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:e$XK=@?B:$<$�B=9?B?I($U:V

>G<P=G3$B$WDJ>=GA<8=$1&1

$d�=;:$JC?B:e3$%$<89:;<=3$>G<$?LsOJ;=;<<$EJV

A?IT<B?@?$J?T=A:;<O$E587AB37/F3$B$WDJ>=GA<8=$'&'

$]$J??AB=AJAB=;;?$A?CV

D?B:;<=$;?BMR$EJA?IT<BMR$J?T=A:;<I$ D575?/H3 X@>7>21@/$ ?><G:=AJO

;:$E>?PO;EAMI$[C?B:GH$XK=@?B:$<$�B=9?B?I&*

3$D575?>B3L1V75C$]$;:

E>?PO;EAMI$[C?B:GH$>?9$G=9:DQ<=I$[DCOG=BJD?I&)

3$@C:@?C:$>D2ADJ3a

&+$[P(\$�=;:$JC?B:($+V=$<89(3$<J>G($<$9?>($a(3$+22+($[($-11(

&%$k>Y/D173%"%"S3k>Y/D17/3k","$SEJJD<I$A?CD?BMI$JC?B:GH($a(3$-))*($[($%+(

&&$u?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:($c?9$G=9($"(U($!r:D?B:($u($-($a(3$-)%6($[ACL($-*2(

&6$[C?B:GH$GEJJD?@?$O8MD:($u($-($a(3$-)6'($[($-%((

&1$[P(\$�=;:$JC?B:($%$<89(3$<J>G($<$9?>($[($1&]16(

&'$u:P$K=($[($'2(

&*$$[5=>?3-"#"$<$4?50>?/3!"M"$u?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:($a(3$-))'($[($'%'(

&)$ u?CD?BMI$ JC?B:GH$ GEJJD?@?$ O8MD:$ D?;Q:$ ��$ JA?C=A<O($ �8MD?BM=$ <8P=;=;<O($ c?9

G=9($4(U($[DCOG=BJD?I($[cL(3$-))*($[($*6(

SQT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SQS

1$+/0

)*6

-#4

%/)#&

+,

B:AHJO$D:D$>?G?T:n==$BMG:K=;<=$,L=8$D?;DG=A<8:Q<<$E>?PO;EA?@?$B

BMJD:8MB:;<<$d8:D:8:e/e(

7JR?9O$<8$A?CD?B:;<O$G:JJP:AG<B:=PMR$JC?B$B$du?CD?B?P$JC?B:G=

GEJJD?@?$O8MD:e$XK=@?B:$<$�B=9?B?I3$<89:;;?P$B$-))'$@?9E3$D:D$;:<V

L?C==$:BA?G<A=A;?@?$<8$J?BG=P=;;MR$J>G:B?T;MR$<89:;<I6%

3$:BA?GM$p:DV

CfT=;<O$JT<A:fA3$TA?$;<$JC?B?$V/@/V$B$8;:T=;<<$dBM>?C;=;<=$>?GET=;V

;?@?$D=PVC<L?$9=C:e3$;<$JC?B?$>D8/L>D/DJ$B$8;:T=;<<$dB?8P=JA<AH$AGEV

9?Pe$;=$J?>G?B?K9:fAJO$JA<C<JA<T=JD<P<$>?P=A:P<3$R:G:DA=G<8Efn<V

P<$WA<$JC?B:$D:D$?AG<Q:A=CH;M=$;?P<;:Q<<6&

$<$>G<R?9OA$D$BMB?9E\$dcG<V

P=;<A=CH;?$D$JG=9JAB:P$P:JJ?B?I$<;N?GP:Q<<$JC?B?$d8:D:8e$;=$J?9=GV

K<A$D:D<RVC<L?$?AG<Q:A=CH;MR$D?;;?A:Q<I$,9?>?C;<A=CH;MR$8;:T=;<I/(

S=TH$P?K=A$<9A<$?$J?Q<:CH;?P$8:D:8=3$?$8:D:8=$JA:AH<$:BA?GE($U?$>?V

JD?CHDE$>?;OA<=$d8:D:8e$B$9:;;?I$NG:8=$;=$D?;DG=A<8<G?B:;?3$B$WA?I

NG:8=$,<P==AJO$B$B<9E$ED:8:;;?=$B$8:>G?J=$dBMJD:8MB:;<=e$=8GYY/S3>DN

8/L/DA?/WZ/H3V/@/V/$;=$J?9=GK<AJO$<;N?GP:Q<<3$>?G?T:n=I$9=C?BEf

G=>EA:Q<f$JG=9JAB:$P:JJ?B?I$<;N?GP:Q<<e66

(

b$ZDJ>=GA<8=$-%V?I3$B$D?A?G?I$:;:C<8<GEfAJO$A=DJAM$<;A=GBHf$0(_(

0=G=8?BJD?@?$d7;A=GN:DJEe$<$ @:8=A=$dF<@:G?e$ ,B$ J=;AOLG=$-)))$ @(/3

D:D$<$B$Q<A<G?B:;;?P$p:DCfT=;<<$D:N=9GM$JA<C<JA<D<3$?L?J;?B:;;?

EAB=GK9:=AJO3$TA?$dJ:P?$>?$J=L=$,A(=($B;=$D?;A=DJA:$]$`(0(/$JC?B?$V/N

@/V$;=$;=JoA$D:D?IVC<L?$;=@:A<B;?I$?DG:JD<$B$ 8;:T=;<<\$ ³>?GET=;<=

D?PEV;($<8@?A?B<AH3$J9=C:AH$TA?V;(´61

3$G:B;?$D:D$<$JC?B?J?T=A:;<=$>DN

8/L/DA?/DJ3V/@/V$,d�TA?$>C?R?@?3$TA?$D?@9:$DA?VA?$BM>?C;O=A$<C<3

D:D$BMG:K:=AJO$0=G=8?BJD<I3$>D8/L/DA?/5D$8:D:8/6'

(

X9;:D?$B$D?;A=DJA=$<;A=GBHf$0=G=8?BJD?@?3$?LB<;<Br=@?$4EJ<;JV

D?@?$<$A=C=D?P>:;<f$Uub$B$>G=9:A=CHJAB=$@?JE9:GJAB=;;MR$<;A=G=V

J?B3$B$;:GEr=;<<$P?G:CH;MR$;?GP$,>G?9:K;?JAH$Uub/$JC?B?J?T=A:V

;<=$>D8/L/DA?/DJ3V/@/V$<$JEn=JAB<A=CH;?=$V/@/V$>?CET:fA$9?>?C;<V

A=CH;M=$]$ $G=8D?;=@:A<B;M=$]$D?;;?A:Q<<($cG<T=P$WA<$D?;;?A:Q<<

JC?B:$V/@/V$B$D?;Q=$��$]$;:T:C=$��g$JA?C=A<O$>?CET:fA$JA:AEJ$?>G=V

9=C=;;?@?$J=P:;A<T=JD?@?$?JPMJC=;<O$<$WP?Q<?;:CH;?VWDJ>G=JJ<B;?I

?Q=;D<$ ;=@:A<B;?@?$ R:G:DA=G:$ <$ ]$ TA?$ TG=8BMT:I;?$ JEn=JAB=;;?$ ]

G=@<JAG<GEfAJO$J?BG=P=;;MP<$JC?B:GOP<3$D?A?GM=$?AP=T:fA$:;:C?V

@<T;M=$<8P=;=;<O$<$B$>G?<8B?9;MR$?A$JEn=JAB<A=CH;?@?$V/@/V\$>G<V

C:@:A=CH;?@?$V/@/V7>B$<$@C:@?C:$V/@/V/DJ(

ZDJ>=GAM$B$:;:C<8=$JC?B?J?T=A:;<O$>D8/L/DA?/DJ3V/@/V$ET<AMB:V

fA$ED:8:;;M=$<8P=;=;<O$B$J=P:;A<D=$<$JA<C<JA<T=JD?P$?LC<D=$JC?B:

V/@/V3$?><G:OJH$>G<$WA?P$D:D$;:$9:;;M=$J?BG=P=;;MR$JC?B:G=I6*

3$A:D$<

6%$[P(\$�=;:$JC?B:($%V=$<89(3$<J>G($<$9?>($[($-2-(

6&$u:P$K=($[($-2-]-2+(

66$$u:P$K=($[($-2+(

61$u:P$K=($[($)*(

6'$u:P$K=($[($))(

P?@EA$LMAH$A?CHD?$>?9J>?GH=P$B$C=DJ<D?VJ=P:;A<T=JD?P$<$JA<C<JA<V

T=JD?P$<JJC=9?B:;<<3$>G?B?9<P?P$WDJ>=GA?P($ZA?$?LEJC?BC=;?$A=P3$TA?

B$JC?B:GOR$9:=AJO$JPMJC?B:O$JAGEDAEG:$JC?B:3$NG:8=?C?@<8P:$B$?L?LV

n=;;?P$B<9=$<$]$@C:B;?=$]$?L?Ln=;;:O$JA<C<JA<T=JD:O$R:G:DA=G<JA<D:

,<;?@9:$?L?Ln=;;:O$ J?Q<?DECHAEG;:O$R:G:DA=G<JA<D:/3$ :$ A:DK=$ =@?

>:G:9<@P:A<T=JD<=3$J<;A:@P:A<T=JD<=3$<9=?@G:N<T=JD<=3$JC?B??LG:8?V

B:A=CH;M=$JBO8<$<$J??A;?r=;<O$J$9GE@<P<$C=DJ<T=JD<P<$,<$NG:8=?C?V

@<T=JD<P</$=9<;<Q:P<3$D?A?GM=$,JBO8</$A?K=$N<DJ<GEfAJO$B$JC?B:GOR(

bP=JA=$J$A=P$]$<$WA?$?T=B<9;?$]$C<;@B<JA<T=JD<=$JC?B:G<3$D:D$<$JC?V

B:G<$W;Q<DC?>=9<T=JD<=3$A=GP<;?C?@<T=JD<=$,DG?P=$J>=Q<:CH;MR$fG<V

9<T=JD<R/3$;=$?G<=;A<G?B:;M$;:$JE9=L;?VfG<9<T=JD<=$J<AE:Q<<3$;=$>G<V

J>?J?LC=;M$,WA?$<$;=$BR?9<A$B$<R$8:9:T</$D$fG<9<T=JD<P$DB:C<N<D:Q<V

OP$,9CO$T=@?$=JAH$J>=Q<:CH;M=$>G:B?BM=$D?9=DJM$<$9GE@<=$<89:;<O/(

[C?B:G<$ C<rH$ >?P?@:fA$ <JJC=9?B:A=Cf$ J?G<=;A<G?B:AHJO$ B$ ?LV

n=I$R:G:DA=G<JA<D=$G:JJP:AG<B:=PMR$B$C<;@B<JA<T=JD?I$WDJ>=GA<8=

C=DJ<D?VNG:8=?C?@<T=JD<R$=9<;<Q3$NE;DQ<?;<GEfn<R$B$D?;DG=A;?P

A=DJA=3$B$?>G=9=C=;;?P$NG:8?B?P$?DGEK=;<<3$B$<8B=JA;?P3$ J?9=GK:V

A=CH;?P$<$WDJ>G=JJ<B;?VWP?Q<?;:CH;?P$D?;A=DJA=($b=9H$<J>?CH8?B:V

;<=$9:;;?@?$JC?B:3$NG:8=?C?@<8P:$B$J>?G;?P$A=DJA=$>G<;<P:=AJO$D:D

>G?=DQ<O$=@?$NE;DQ<?;<G?B:;<O$>G=K9=$BJ=@?$B$?Ln=C<A=G:AEG;?P

E>?AG=LC=;<<3$:$A:DK=$B$9GE@<R$JN=G:R$J?BG=P=;;?I$G=T=B?I$D?PPEV

;<D:Q<<$;?J<A=C=I$C<A=G:AEG;?@?$O8MD:(

!T<AMB:O$BJ=$WA<$<$>?9?L;M=$>G=BR?9On<=$P?P=;AM$<J>?CH8?B:V

;<O$JC?B:3$NG:8=?C?@<8P:$B$9:;;?P$A=DJA=3$<JJC=9?B:A=CH3$?G<=;A<GEV

OJH$;:$d?Ln<=e3$?L?Ln=;;M=$R:G:DA=G<JA<D<$JPMJC?B?I$<$JA<C<JA<V

T=JD?I$,?AT:JA<$J?Q<?DECHAEG;?I/$R:G:DA=G<JA<D<$<8ET:=P?@?$JC?B:3

JC?K<Br<=JO$B$ J?BG=P=;;?I$G=T=B?I$D?PPE;<D:Q<<$ ,<$B$<JA?G<T=JV

D?I$>=GJ>=DA<B=$JEn=JAB?B:;<O$GEJJD?@?$O8MD:/$>G<R?9<A$D$?>G=9=V

C=;;?PE$BMB?9E$?$C=DJ<D?VJ=P:;A<T=JD<R$<$JA<C<JA<T=JD<R3$WDJ>G=JV

J<B;?VWP?Q<?;:CH;MR3$?Q=;?T;MR$JB?IJAB:R$G:JJP:AG<B:=P?I$=9<;<V

QM$B$9:;;?P3$D?;DG=A;?P$A=DJA=3$?A;?J<A=CH;?$B?8P?K;MR$:BA?GJD<R

:9G=J;MR$<;A=;Q<I$B>C?AH$9?$?ADG?B=;;MR$<;B=DA<B(

b?A$<CCfJAG:Q<<$:;:C<8:$?A9=CH;MR$JC?B3$JC?B?J?T=A:;<I3$NG:8=V

?C?@<8P?B$B$C<;@B<JA<T=JD<R$WDJ>=GA<8:R(

u<><T=;$:;:C<8$JC?B?J?T=A:;<O$>D8/L/DA?/DJ3V/@/V$<$JC?B$V/@/V

>D8/L/DA?/DJ$B$ZDJ>=GA<8=$-%$,B$%VP$<89:;<<$D;<@<$d�=;:$JC?B:e/$<

B$p:DCfT=;<<$D:N=9GM$JA<C<JA<D<$GEJJD?@?$O8MD:$N:DECHA=A:$KEG;:V

C<JA<D<$a4!$<P($a(b($Y?P?;?J?B:$,D/23[5/(

b$WA?P$p:DCfT=;<<$D:N=9GM$JA<C<JA<D<$ED:8:;;M=$JC?B:$<$dBMJV

D:8MB:;<=e$=8GYY/S3>D8/L/DA?/WZ/H3V/@/V$G:JJP:AG<B:fAJO$B;=$D?;V

A=DJA:$ ,D:D$ <$ 8;:T<AJO$ B$ 8:>G?J=$ fG<9<T=JD?I$ D?;JECHA:Q<<\$ d9:AH

8:DCfT=;<=$?$A?P3$P?K=A$C<$BMJD:8MB:;<=$µ$ =8GYY/S3>D8/L/DA?/WN

Z/H3 V/@/V3$?A;=J=;;?=$D$ JG=9JABE$P:JJ?B?I$<;N?GP:Q<<3$G:JJP:AG<V

SQh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SQI

1$+/0

)*6

-#4

%/)#&

+,

JABEfn<R$JC?B3$JCEK:n<=$9CO$?L?8;:T=;<O$;?B?@?$>G=9P=A:$<C<$BMV

G:K=;<O$;?B?@?$>?;OA<O$]$;=?C?@<8PM(

c?A=;Q<:CH;M=$JC?B:$J?89:fAJO$>?$9=IJABEfn<P$JC?B??LG:8?B:V

A=CH;MP$P?9=COP$,;:>G<P=G\$8AQ/8CD?>?/DJS3@1D1P//$B$J<CE$B?8;<DV

r=I$>?$R?9E$<8C?K=;<O$;=?LR?9<P?JA<$,<C<$K=C:;<O$:9G=J:;A:$G=T<3

A=DJA:/$ BMG:8<AH$ D:D?IVC<L?$ ?AA=;?D$ JPMJC:$ <�<C<$ WDJ>G=JJ<<($ u:V

D<P$>?A=;Q<:CH;MP$JC?B?P$>G=9JA:BCO=AJO$JEn=JAB<A=CH;?=$!"$0#D$:

3+*&+,-)$ B$ JA:AH=$_($0?LG?B:$dY<JA?>:9;<D\$E9Er=;<=$G?9;?@?e1%

(

!>3(81=>8JH7QS31V0/?I1B3F1CD>@3_(F/C7>CDJ`S3753>[10/F3D/@>=>3>DN

Y>8/3C>D8G071@>?31V0/D5FJCD?/S3?@FWE/H3[57Z17S3Y1C/D5F5BvS3@>D>N

8A53Y>2>=F137/23Y85C5EJ3 V/P?/D$ ,89:;<O$<89:A=CHJAB:/($ +3Y>D>23G[

d!"$0#D$3+*&+,)$e$2A3C/213?AD8HP7GF131V3V0/71H37/3O>?/8C@>Be1&

(

_;:C<8<GEO$A:D<=$G=T=BM=$OBC=;<O$B$R?9=$C<;@B<JA<T=JD?I$WDJ>=GV

A<8M$9CO$?L?J;?B:;<O$?Ls=DA<B;?JA<$<R$A?CD?B:;<O3$<;A=G>G=A:Q<<

WDJ>=GAM$?LG:n:fAJO$D$:BA?G<A=A;MP$C<;@B<JA<T=JD<P$<JJC=9?B:;<V

OP3$D$:D:9=P<T=JD?I$@G:PP:A<D=$GEJJD?@?$O8MD:3$D$J>G:B?T;MP$<89:V

;<OP$A<>:$d4G:PP:A<T=JD?@?$JC?B:GOe$_(_3$p:C<8;OD:3$d4G:PP:A<V

T=JD?I$>G:B<CH;?JA<$GEJJD?I$G=T<e$Y(#($4G:E9<;?I3$b(_($7QD?B<T:

<$Y(c($#:AC<;JD?I$dSEJJD?@?$?GN?@G:N<T=JD?@?$JC?B:GOe$,?AB=AJAB=;V

;MI$ G=9:DA?G$ b(b($ Y?>:A<;/($ u:D$ ?A;?J<A=CH;?$ JEn=JAB<A=CH;MR$ J

EP=;Hr<A=CH;?VC:JD:A=CH;MP<$JENN<DJ:P<$ ,<P=;;?$A:D<P$OBCO=AJO

JC?B?$ Y8/?>V/Z1D71E5@/$ B$ dSEJJD?P$ O8MD=e$ b(b($ b<;?@G:9?B:$ ;:R?V

9<P$R:G:DA=G<JA<DE$EP=;Hr<A=CH;?VC:JD:A=CH;MR$JENN<DJ?B\$d�cG<

<R$>?JG=9JAB=$BMG:K:fAJO$J:PM=$G:8;??LG:8;M=$?AA=;D<$WDJ>G=JJ<<\

J?TEBJAB<=3$<G?;<O3$>G=;=LG=K=;<=3$8C?L:3$>=JAG:O$<$>G?A<B?G=T<B:O

@:PP:$WP?Q<I$<$?Q=;?De16

3$:$:D:9=P<T=JD:O$dSEJJD:O$@G:PP:A<D:e$,a(3

-)*2/$?AP=T:=A\$dXLG:8?B:;<O$J$JENN<DJ:P<$JELs=DA<B;?I$?Q=;D<$R:V

G:DA=G;M$9CO$G:8@?B?G;?I$G=T<e11

(

b$>G<B=9=;;?P$BMr=$NG:@P=;A=$JA:AH<$_($0?LG?B:$JC?B?$Y8/?>V/N

Z1D71E5@$LC:@?9:GO$EP=;Hr<A=CH;?PE$JENN<DJE$V5@$<P==A$E;<T<K<V

A=CH;?V<G?;<T=JD<I$ WDJ>G=JJ<B;MI$ ?AA=;?D$ <$ >G?A<B?>?C?K;MI

JPMJC$ ,A(=($4G<@?GHO;Q$ H@>LAS3@/@3LA$Y8/?>V/Z1D71@/($#:BMTD<3$ J?V

>G?B?K9:fn<=$JC?B?$Y8/?>V/Z1D71E5@$EJ<C<B:fA$BMG:K=;<=$<G?;<<

<$=@?$d?LG:A;?=$8;:T=;<=e($#G?P=$A?@?3$WA?$JC?B?$B$J<CE$WDJ>G=JJ<<

;=>G<;EK9=;;?JA<3$>G<JEn=I$=PE$D:D$=9<;<Q=$G:8@?B?G;?I$G=T<3$@:GV

P?;<GE=A$ J?$ JA<C<JA<T=JD<P$R:G:DA=G?P$>?JC=9;=I$NG:8M$Q<A<GE=V

P?@?$BMr=$NG:@P=;A:$ JA:AH<$_($0?LG?B:\$<P==AJO$B$B<9E$G:8@?B?GV

;MI$?L?G?A$/3Y>D>23G[3$@C:@?C$?AD8HP7GDJ$B$8;:T=;<<$³BM@;:AH3$8:V

JA:B<AH$EIA<$?ADE9:V;<LE9H´3$J?>G?B?K9:=PMI$B$du?CD?B?P$JC?B:G=

1%$[P($ZDJ>=GA<8:$+$��$�=;:$JC?B:($%V=$<89(3$<J>G($<$9?>($a(3$+22+(

1&$[P($A:P$K=($[($&+(

16$%17>=8/0>?3%"%"$SEJJD<I$O8MD$,4G:PP:A<T=JD?=$ET=;<=$?$JC?B=/($&V=$<89($a(3$+22-(

[($-2-(

11$SEJJD:O$@G:PP:A<D:($u($-($a(3$-)*2($«$&-+($[($+2*(

;:$D?;A=DJA$BMJAE>C=;<I$0=G=8?BJD?@?3$>G=9JA:BC=;;MR$9CO$C<;@B<JV

A<T=JD?I$WDJ>=GA<8M($dU=@:A<B;?=$B?J>G<OA<=$JC?B$0=G=8?BJD?@?$>DN

8/L/DA?/DJ3V/@/V3$]$EAB=GK9:=AJO$B$WDJ>=GA<8=3$]$JBO8:;?$;=$JA?CHD?$J

J?LJAB=;;?$JC?B?P$ V/@/V�3$JD?CHD?$J$:JJ?Q<:Q<OP<3$D?;;?A:Q<OP<3

>?G?K9:=PMP<$WA<P$JC?B?J?T=A:;<=Pe6)

(

b$C<;@B<JA<T=JD?I$WDJ>=GA<8=$d?ADGMA?@?$><JHP:e$d[=PHO$[?C?V

9?BMR\$N:DAM3$C=9=;On<=$9ErEe$,JP($@:8=AE$d4EL=G;JD<I$C:L<G<;Ae$]

)(2&(+22%$@(/$G:8L<G:=AJO$JC?B?$258173$E>?AG=LC=;;?=$:BA?G?P$d?ADGMV

A?@?$><JHP:e$B$D:T=JAB=$?LG:n=;<O$D$[?C?9?BE$]$dBML?G;?PE$>?C<V

A<DEe$,D:D$8;:T<AJO$B$D?PP=;A:G<<$dXA$G=9:DQ<<e/(

[En=JAB<A=CH;?=$25817$<P==A$A?CHD?$?9;?3$>GOP?=$8;:T=;<=\$³D:JAG<V

G?B:;;MI$K=G=L=Q´12

3$?A;?J<AJO$D$;=IAG:CH;?I$C=DJ<D=($X9;:D?$B$JBO8<$J

A=P3$TA?$WA?$JC?B?$BR?9<A$B$J?JA:B$NG:8=?C?@<T=JD<R$BMG:K=;<I$G:8@?V

B?G;?@?$R:G:DA=G:$J$OGD?I$dJ;<K=;;?Ie$WDJ>G=JJ<B;?I$?DG:JD?I$G=8D?V

;=@:A<B;?I$?Q=;D<3$<P=fn<R$B$B<9E$T=C?B=D:$,?85D3@/@3C1?AB325817$]

³L=88:JA=;T<B?$?LP:;MB:=A´3$:3=FGY3@/@3C1?AB325817$]$³L=8;:9=K;?$@CE>´1-

/3

?;?$B$>=G=;?J;?P$E>?AG=LC=;<<$BMJAE>:=A$D:D$G=8D?;=@:A<B;:O$R:G:DA=V

G<JA<D:$T=C?B=D:$J$?AA=;D:P<$>G=;=LG=K<A=CH;?JA<3$>G=8G=;<O(

b$A:D?P$K=$>=G=;?J;?P$E>?AG=LC=;<<$,>?$?A;?r=;<f$D$T=C?B=DE/

JC?B?$25817$P?K=A$<J>?CH8?B:AHJO$<$<G?;<T=JD<$,J$?AA=;D?P$>G=;=LV

G=K<A=CH;?JA</($[P(3$;:>G<P=G3$B$G:JJD:8=$b(a($�EDr<;:$d�$>G<r=C

9:AH$B:P$B?Cfe\$dY:GHD:$JP?C?9E$D:DVA?$TEAH$;=$;:JP=GAH$?AG:B<CJO

¨J<BER?I©$<$J$A=R$>?G$;=$P?@$><AH�$u:D$<$K<C$]$25817>2$JG=9<$K=G=LV

Q?B$9?;JD<Re3$A(=($AG=8B=;;<D?P$JG=9<$>Hfn<R(

u:D$TA?$9B:K9M$>G<P=;o;;?=$B$G:JJP:AG<B:=P?P$A=DJA=$D$[?C?9?BE

JC?B?$25817$B?J>G<;<P:=P?=$B$O8MD?B?P$J?8;:;<<$J?BG=P=;;<D?B$B$D?;V

A=DJA=$;:8B:;;MR$BMr=$NG:8=?C?@<T=JD<R$BMG:K=;<I$D:D$;=@:A<B;:O3

G=8D??AG<Q:A=CH;:O$R:G:DA=G<JA<D:$T=C?B=D:3$OBCO=AJO$<;B=DA<B?I3$A(=(

LG:;;MP$JC?B?P3$?LG:no;;MP$B$9:;;?P$JCET:=$;=>?JG=9JAB=;;?$D$:9G=V

J:AE$G=T<$]$D$:9G=J:AE$d?ADGMA?@?$><JHP:e3$?>ELC<D?B:;;?@?$B$@:8=A=(

b$C<;@B<JA<T=JD<R$WDJ>=GA<8:R$JA:BOAJO$B?>G?JM$<$?A;?J<A=CH;?

A?CD?B:;<O3$J=P:;A<D?VJA<C<JA<T=JD?I$DB:C<N<D:Q<<$;?BMR$JC?B$,<C<

E>?AG=LC=;<O$JC?B:$J$;?BMP$8;:T=;<=P3$J$;?BMP$J=P:;A<T=JD<P�WDJ>V

G=JJ<B;MP$?AA=;D?P/3$ JC?B?J?T=A:;<I3$ JA:Br<R$:DAE:CH;MP<$B$>?JV

C=9;<=$@?9M3$;?$=n=$;=$>?CET<Br<R$?AG:K=;<O$B$J?BG=P=;;MR$JC?B:V

GOR($ [G=9<$ A:D<R$ JC?B$ Q=C=J??LG:8;?$ G:8C<T:AH$ :/$ A:D$ ;:8MB:=PM=

>?A=;Q<:CH;M=$ JC?B:1+

$ ,G:8;?B<9;?JAH$ ?DD:8<?;:C<8P?B/^$ L/$ B;?BH

J?89:;;M=$JC?B:$<$JC?B?J?T=A:;<O3$:$A:DK=$;?BM=$8;:T=;<O$EK=$JEn=V

6*$[P($u:P$K=($[($)*]))(

6)$u:P$K=($[($))(

12$SEJJD<I$J=P:;A<T=JD<I$JC?B:GH($u($-($a(3$-))*($[($&+&(

1-$[P($A:P$K=(

1+$[P($*5FJE1@>?3M"+"$XDD:8<?;:C<8PM$��$SEJJD<I$O8MD\$Z;Q<DC?>=9<O($+V=$<89(3$>=G=V

G:L($<$9?>($a(3$-))'($[($+*&(

SQL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SQM

1$+/0

)*6

-#4

%/)#&

+,

#:D$?T=B<9;?3$B$:;:C<8=$C=DJ<D?VNG:8=?C?@<T=JD<R$=9<;<Q$B$<R$;?P<V

;:A<B;?P$E>?AG=LC=;<<3$>G<$EJA:;?BC=;<<$?9;?8;:T;?@?$JPMJC:$fG<9<V

T=JD<$8;:T<PMR$?L?G?A?B$G=T<3$JA:;9:GA<8<G?B:;;MR$JC?B?J?T=A:;<I3

?A9=CH;MR$NG:8$G?CH$C<;@B<JA<T=JD<R$JC?B:G=I$JA?CH$K=$8;:T<A=CH;:3$D:D

<$B$>G?Q=JJ=$<JJC=9?B:;<O$JC?B3$NG:8=?C?@<8P?B$B$>=G=;?J;?VP=A:N?V

G<T=JD?P$E>?AG=LC=;<<3$;:9=C=;;MR$G:8;??LG:8;MP<$D?;;?A:Q<OP<(

u:D3$9CO$BMOJ;=;<O$J=P:;A<D<$JC?B$5017CD?577AB$<$5017AB3$:$A:DK=

9CO$EA?T;=;<O$?9;?@?$<8$8;:T=;<I$>G<C:@:A=CH;?@?$5017AB$B?$NG:8=3

B8OA?I$<8$A=DJA:$?9;?@?$<8$F=9=G:CH;MR$p:D?;?B$,D:D$;:><J:;?$B$8:>V

G?J=$;:$WDJ>=GA;?=$8:DCfT=;<=$X_X$d[AG:R?B?=$?Ln=JAB?$[?9GEK=V

JAB?$U=8:B<J<PMR$4?JE9:GJABe/$;=?LR?9<P?$?LG:A<AHJO$D$ JC?B:GOP

J?BG=P=;;?@?$GEJJD?@?$O8MD:($U:>G<P=G3$B$du?CD?B?P$JC?B:G=$GEJV

JD?@?$O8MD:e$[(7($XK=@?B:$<$U(`($�B=9?B?I$<$B$d[C?B:G=$>:G?;<V

P?B$GEJJD?@?$O8MD:e$`(_($0=CHT<D?B:$<$a([($c:;fr=B?I$>G<C:@:V

A=CH;?=$ 5017AB$>?$ JEn=JABE$A?CDE=AJO$?9<;:D?B?$ ,R?AO$>=GBMI$JC?V

B:GH$BM9=CO=A$9B:$8;:T=;<O3$:$BA?G?I$]$AG</($[P($B$d[C?B:G=$>:G?;<V

P?B$GEJJD?@?$O8MD:e\$d�"7U¢��$-$,?LMT;?$B$?AG<Q:A=CH;MR$D?;V

JAGEDQ<OR/$X9<;($!135017>B3Q/8/Y17A"3!135017A230?1[57152�$+($�=CHV

;MI3$;=G:89=CH;MI($,017AB3@>2YF5@C"3,017AB3Y>8A?"3,017AB3CYF/?$,T=@?V

C(/($%($X9<;$<$A?A$K=3$?Ln<I3$?9<;:D?BMI($,017/H3Y8>=8/22/"3,017/H

D>E@/3V8571H"3,017/H3F171H3Y>?50571H'2

(

[=P:;A<T=JD<=$G:8C<T<O$?9;?D?G=;;MR$JC?B$,:$>G<C:@:A=CH;M=$501N

7AB$<$5017CD?577AB$?9;?D?G=;;M=$JC?B:/$BMOBCOfAJO$>G<$J?>?JA:BC=V

;<<$;=$A?CHD?$8;:T=;<I$A:D<R$JC?B3$;?$<$<R$J?T=A:=P?JA<$J$9GE@<P<

JC?B:P<3$?J?L=;;?$D?@9:$?9;?D?G=;;M=$JC?B:$P?@EA$J?=9<;OAHJO$J$?9V

;<P<$<A=P<$K=$JC?B:P<($cG<$WA?P$?LG:8EfAJO$G:8;M=$>?$JPMJCE$JC?B?V

J?T=A:;<O($[=P:;A<T=JD<=$G:8C<T<O$>:GM$?9;?D?G=;;MR$JC?B$T=AD?

BMOBCOfAJO$<P=;;?$>G<$J?>?JA:BC=;<<$A:D<R$JC?B?J?T=A:;<I($[G(\$501N

7AB3Y817Q1Y$]$?Ln<I$>G<;Q<>$9CO$D?@?V3$T=@?VC(3$5017CD?577AB3Y817N

Q1Y$]$A?CHD?$?9<;$>G<;Q<>3$>?C?K=;;MI$B$?J;?BE$T=@?VC(3$D?A?GMP$GEV

D?B?9JABE=AJO$DA?VC(^$5017/H3D>E@/3V8571H$]$?Ln:O3$?9<;:D?B:O$A?TD:

8G=;<O$@GE>>M3$D?CC=DA<B:^$5017CD?577/H3D>E@/3V8571H$]$A?CHD?$?9;:

A?TD:$8G=;<O^$5017A53Y8/?1F/3]$?Ln<=$9CO$BJ=R$>G:B<C:^$5017CD?577>5

Y8/?1F>3a$A?CHD?$?9;?$>G:B<C?^$,B?$BJ=R$>G<B=9=;;MR$JC?B?J?T=A:;<OR

J$>G<C:@:A=CH;MP$d=9<;MIe$WA?$JC?B?$<P==A$8;:T=;<=$³?9<;$<$A?A$K=3

?Ln<I3$?9<;:D?BMI´$]$%V=$8;:T=;<=$>?$d[C?B:Gf$>:G?;<P?B$GEJJD?@?

O8MD:e/^$5017>53=>CG0/8CD?>$]$?AC<T:fn==JO$WD?;?P<T=JD<P$<$>?C<A<V

T=JD<P$=9<;JAB?P3$Q=CH;?JAHf$JB?=I$B;EAG=;;=I$?G@:;<8:Q<<3$ 5017N

CD?577>53=>CG0/8CD?>$]$A?CHD?$?9;?$<8$BJ=R$9GE@<R$@?JE9:GJAB3$<P=fV

n==$D:DEfVC($?J?L=;;?JAH3$>G?B?9On==$D:DEfVA?$?J?LEf$>?C<A<DE$<

A(>(^$5017/H3C1CD52/3 $]$Q=CH;:O3$Q=C?JA;:O$J<JA=P:3$B;EAG=;;=$?G@:;<V

'2$*5FJE1@>?3M"+"S3O/7I5?/3'"-"$[C?B:GH$>:G?;<P?B$GEJJD?@?$O8MD:($a(3$+22+($[($+26

,JA:AHO\$,0171E7AB3a35017CD?577AB3a35017AB/(

GEJJD?@?$ O8MD:e$ [(7($ XK=@?B:$ <$ U(`($ �B=9?B?I$ >?P=A?I$ Y8>CD"1'

,WA?$?8;:T:=A3$TA?$9:;;?=$JC?B?$$J$A:D<P$8;:T=;<=P$?A;?J<AJO$D$>=G<V

N=G<<$G:8@?B?G;?I$G=T</(

b$ZDJ>=GA<8=$1$,JP($%V=$<89:;<=$D;<@<$d�=;:$JC?B:e/$:;:C<8<GE=AJO

G:8@?B?G;MI$WDJ>G=JJ<B;MI$@C:@?C$Y8>@/E1?/DJ3$D?A?GMI$<J>?CH8?V

B:;$B$>ELC<D:Q<<$d#?PJ?P?CHJD?I$>G:B9Me$ ,+'(26(-))*$ @(/$ dt=G;?=

8?C?A?$]$T=G;MP$;:C?Pe\$05CHD@136182v3!"#)$,+0$6+3E587>53V>F>D>

E585V3C5LH3Y>375CG8/V7A23Q57/2(

ZDJ>=GAM$?AP=T:fA\$dA:D?=$8;:T=;<=$@C:@?C:$Y8>@/E1?/DJ$=n=$;=

?AP=T=;?$B$JC?B:GOR$J?BG=P=;;?@?$GEJJD?@?$O8MD:e1*

(

"CO$:;:C<8:$WA?@?$@C:@?C:$>G<BC=D:=AJO$=@?$J<;?;<P$Y8>@8GE1?/DJ3a

Y8>@8GD1DJ3$;:<L?C==$>?9R?9On<I$>?$JB?<P$J=P:;A<T=JD<P$<$JA<C<V

JA<T=JD<P$JB?IJAB:P$D$9:;;?PE$D?;A=DJAE$E>?AG=LC=;<O$G:JJP:AG<V

B:=P?@?$JC?B:(

c?$du?CD?B?PE$JC?B:Gf$GEJJD?@?$O8MD:$D?;Q:$��$JA?C=A<Oe$@C:V

@?C$Y8>@8GD1DJ$BMJAE>:=A$J?$8;:T=;<=P$³;=8:D?;;?$<J>?CH8?B:AH$TH<V

C($9=;H@<$B$D:T=JAB=$BMJ?D?>G?Q=;A;MR$JJE93$<;B=JA<Q<I$<$A(>($9CO

>?CET=;<O$>G<LMC<3$8:9=GK<B:O$<R$BM>C:AE$DC<=;A:P´1)

($XL?J;?B:;V

;?JAH$?LG:n=;<O$D$ @C:@?CE$ Y8>@8GD1DJ$>?9DG=>CO=AJO$A=P3$TA?$?L:

@C:@?C:$ <P=fA$ ?9<;:D?BEf$ J?T=A:=P?JAH\$ Y8>@8GD1DJ3 ,-"-D3 CD8G@N

DG8G$ ,�>71$ ®P<;<JA=GJAB:¯$ L5C@>7D8>FJ7>3 !"#)"4,+0$6+3 >CD/D@1

C850CD?37/3CE5D/P3XD1P36>70>?3,-"-D3@>2258E5C@153CD8G@DG8A$]$a?JV

D?BJD<=$;?B?JA<3$++]+)(26(-))&/$]$Y8>@/E/DJ3,-"-D3C5LH(

�JC<$B$JE9=L;MR$C<;@B<JA<T=JD<R$WDJ>=GA<8:R$>?$<JD:P$?$8:n<A=

T=JA<3$9?JA?<;JAB:$<�<C<$9=C?B?I$G=>EA:Q<<$P;?@?$B;<P:;<O$E9=COV

=AJO$:;:C<8E$JC?B3$JC?B?J?T=A:;<I$B$>=G=;?J;?VP=A:N?G<T=JD<R$8;:V

T=;<OR3$J$WDJ>G=JJ<B;?V?Q=;?T;MP<$?AA=;D:P<$;=@:A<B;?@?$R:G:DA=V

G:3$A?$B$8:>G?J:R$?$>G?B=9=;<<$C<;@B<JA<T=JD?I$WDJ>=GA<8M$J$Q=CHf

G:8G=r<AH$:GL<AG:K;Ef$J<AE:Q<f3$EJA:;?B<AH$9=IJAB<A=CH;?=$J?9=GV

K:;<=$D:D?IVC<L?$NG:8M$B$9<G=DA<B;?P$9?DEP=;A=$,B$<;JAGEDQ<<3$EJV

A:B=3$>?JA:;?BC=;<<$<$A(>(/3$=9<;JAB=;;?$B=G;?=$>?;<P:;<=$JC?B:3$G=V

T=B?@?$?L?G?A:$@C:B;?=$B;<P:;<=$?LG:n=;?$;:$A?CD?B:;<=$C=DJ<D?V

NG:8=?C?@<T=JD<R$=9<;<Q$B$<R$3(J&32=&)3(J*LC(=0"1#"3&&3$;:$BMOJV

;=;<=$ 9=IJAB<A=CH;?@?3$ fG<9<T=JD<$ ,<C<$ D?PP=GT=JD</$ 8;:T<P?@?

J?9=GK:;<O$JC?K<Br<RJO3$DC<r<G?B:;;MR$N?GPEC$<C<$;?BMR$>G:B?V

EJA:;:BC<B:fn<R$ N?GPEC<G?B?D3$ :$ A:DK=$ ?A9=CH;MR$ NG:8$ >G=<PEV

n=JAB=;;?$B$?N<Q<:CH;?V9=C?BMR$A=DJA:R3$D?A?GMP3$D:D$<8B=JA;?3$>G<V

JEn<$JAG?@?=3$?Ls=DA<B;?=$<8C?K=;<=(

1'$$[5=>?3-"#"$<$4?50>?/3!"M"$u?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:($&V=$<89(3$9?>($a(3

-))'($[($-+-(

1*$�=;:$JC?B:($%V=$<89(3$<J>G($<$9?>($a(3$+22+($[($16(

1)$u?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:$D?;Q:$��$JA?C=A<O($�8MD?BM=$<8P=;=;<O($[cL(3

-))*($[($6-1(

SQO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SQP

1$+/0

)*6

-#4

%/)#&

+,

<C<$?$B?8P?K;MR$A?CD?B:;<OR$>G=Q=9=;A;MR$A=DJA?B3$EJA?IT<BMR$J?V

T=A:;<I3$?L$WA<P?C?@<<$<;?JAG:;;MR$JC?B3$>G?<JR?K9=;<<3$?AT:JA<

<JA?G<<$ED:8:;;MR$G=T=BMR$=9<;<Q$<$C=DJ=P3$J?9=GK:AJO$B$JC?B:GOR

<;?JAG:;;MR$JC?B3$B$JC?B:G;MR$<89:;<OR$A<>:$dDGMC:AM=$JC?B:e3$dC<V

A=G:AEG;M=�>?C<A<T=JD<=$Q<A:AMe3$B$?Ln<R$<$T:JA;MR$W;Q<DC?>=9<V

T=JD<R$JC?B:GOR3$B$JC?B:GOR$EJA:G=Br<R$JC?B$<$BMG:K=;<I(

78$JC?B:G=I$<;?JAG:;;MR$JC?B$<$ JC?B:G;?VJ>G:B?T;MR$<89:;<I3

BMr=9r<R$B$JB=A$B$D?;Q=$��$]$;:T:C=$��g$JA?C=A<O$P?K;?$G=D?P=;V

9?B:AH$A:D<=3$D:D$&8AC173k"O"$u?CD?BMI$JC?B:GH$<;?O8MT;MR$JC?B3

a(3$+226$,;=?9;?DG:A;?$>=G=<89:B:CJO$J$-))*$@?9:/^$&>2F5?3!"("$[C?V

B:GH$;?BMR$<;?JAG:;;MR$JC?B$,J$>=G=B?9?P3$WA<P?C?@<=I$<$A?CD?B:V

;<=P/($789VB?$a4!3$-))6^$U?B=Ir<I$JC?B:GH$<;?JAG:;;MR$JC?B$<$BMV

G:K=;<I($a(3$+22-^$*/L@173+"'"S345705Q>?3%"%"$[C?B:GH$<;?O8MT;MR

BMG:K=;<I$<$JC?B3$E>?AG=LCOfn<RJO$B$GEJJD?P$O8MD=$L=8$>=G=B?9:$,B

%VR$A?P:R/($[cL(3$-))%$]$-))&^$*/L1E5?3!"n"S3*>8>?C@1B3c"'"$[C?B:GH

C:A<;JD<R$DGMC:AMR$JC?B3$+V=$<89(3$JA=G=?A(3$-)*1^$+IG@173!"-"S3+IGN

@17/3'"("$Y<A=G:AEG;M=$Q<A:AM($XLG:8;M=$BMG:K=;<O($a(3$-)*1^$jGN

I57@>3 &"%"$ [C?B:GH$ J?BG=P=;;MR$ Q<A:A($ a(3$ -))'^$ (8/7>?C@/H3 k"'"

[C?B:GH$<P=;$<$BMG:K=;<I$<8$0<LC<<($a(3$+22%^$[C?B:GH$:;A<T;?JA<(

c=G($J$;=P=QD?@?($a(3$-)*)^$R>F13j["$Z;Q<DC?>=9<O$8;:D?B$<$J<PB?V

C?B($c=G($J$:;@C($a(3$-))1($[P($A:DK=$*5F>?17C@1B3k"%"$S?JJ<IJD<I$<JV

A?G<D?VLMA?B?I$JC?B:GH($a(3$-)))^$X;=@<;JD:O$W;Q<DC?>=9<O($c?9$G=9(

U(7($a<R:IC?B?I$,B$+VR$A?P:R/($u($-($a(3$-)))($u($+($a(3$+22&(

u:D$B$?AB=A:R$;:$B?>G?JM\$dtA?$?8;:T:=A$C:A<;JD?=$<8G=T=;<=$�{z�

{��3��3����{|�e$<$d#:D?B:$>J<R?C<;@B<JA<T=JD:O$NE;DQ<O$9=B<8:$dU=8:V

B<J<P?I$@:8=AMe�$,<P==AJO$B$B<9E$9:;;?=$<8G=T=;<=/3$>?JA:BC=;;M=$B

?9;?P$<8$ 8:>G?J?B3$>?JAE><Br<R$B$4YZ"7[3$:BA?GM$dU:ET;?VD?;V

JECHA:A<B;?@?$8:DCfT=;<Oe$q$+%�2)$?A$1$?DAOLGO$+22%$@(3$?J;?BMB:OJH

;:$:BA?G<A=A;MR$JC?B:GOR$>G=Q=9=;A;MR$A=DJA?B$,0:L<T=B:$<$0?G?BJV

D?@?3$0:LD<;:$<$�=;9O><;:3$_rED<;MR/3$EJA:;?B<C<$J=P:;A<DE$G:JV

JP:AG<B:=P?@?$<8G=T=;<O3$D?;A=DJAM$=@?$E>?AG=LC=;<O$B$>=GB?<JA?TV

;<D=$]$B$d_;;:C:Re$G<PJD?@?$<JA?G<D:$cELC<O$#?G;=C<O$u:Q<A:$,-]+

B=D:$;(W(/$]$<$B$A=DJA:R$;:$GEJJD?P$C<A=G:AEG;?P$O8MD=3$>G=9JA:B<C<

>?$JEn=JABE$9=A:CH;?=$<JA?G<D?VN<C?C?@<T=JD?=$<JJC=9?B:;<=$C:A<;V

JD?@?$<8G=T=;<O$<$=@?$D?PPE;<D:A<B;?V>G:@P:A<T=JD<I$:;:C<8$B$J?V

?A;?r=;<<$J$8:OBC=;;?I$J?89:A=COP<$<$<89:A=COP<$dU=8:B<J<P?I$@:V

8=AMe$WA<T=JD?I$>?8<Q<=I(

XJ;?B;MP$?Ls=DA?P$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M$OBCOV

=AJO$G=T=B?=$>G?<8B=9=;<=$B$N?GP=$>G=<PEn=JAB=;;?$><JHP=;;?@?$A=DV

JA:3$:$A:DK=$EJA;?@?($#:D$EK=$?AP=T:C?JH3$JG=9<$8:>G?J?B$;:$>G?B=9=V

;<=$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M$>G=?LC:9:fA$8:>G?JM$B$JBOV

8<$ J$<JD:P<$>?$ 8:n<A=$T=JA<3$9?JA?<;JAB:$<$9=C?B?I$G=>EA:Q<<$D:D

G=:DQ<O$<JAQ?B$;:$>ELC<D:Q<<$B$[a73$@C:B;MP$?LG:8?P$;:$@:8=A;M=

8?B:;;:O^$5017CD?577/H3C1CD52/3$]$A?CHD?$?9;:$<C<$A:D:O3$D?A?G:O$BMV

9=CO=AJO$T=PVA?$JG=9<$9GE@<R$J<JA=P'-

$,89=JH$JC?B?$5017AB$BMJAE>:=A$B

8;:T=;<<$³Q=CH;MI3$;=G:89=CH;MI´$]$+V=$8;:T=;<=3$>?$d[C?B:Gf$>:G?V

;<P?B$GEJJD?@?$O8MD:e3$:$JC?B?$5017CD?577AB$B$8;:T=;<<$³A?CHD?$?9<;´3

>?$du?CD?B?PE$JC?B:Gf$GEJJD?@?$O8MD:e$XK=@?B:$<$�B=9?B?I'+

/(

"CO$BMOJ;=;<O$B?>G?J:3$>?JA:BC=;;?@?$8:>G:r<B:fn=I$JA?G?;?I\

dP?K=A$C<$>?;OA<=$d=9<;MIe$LMAH$<JA?CD?B:;?$D:D$J?B?DE>;?JAH$?9V

;?G?9;MR$<$G:8;?G?9;MR$?Ls=DA?B3$BM>?C;Ofn<R$?>G=9=C=;;Ef$NE;V

DQ<fe$B$>G=9C?K=;<<3$B8OA?P$<8$A=DJA:$F=9=G:CH;?@?$p:D?;:$SF\$O8>N

65CC1>7/FJ7>53>Lx501757153CD8/P>?Z1@>?3H?FH5DCH375@>2258E5C@>B3>8=/N

71V/Q15BS3Y850CD/?FHWZ5B3C>L>B3-'+&#-3>LZ58>CC1BC@>53Y8>65CC1>7/FJN

7>53>Lx50175715S3>C7>?/77>537/3Y817Q1Y53>LHV/D5FJ7>=>3EF57CD?/3CD8/N

P>?Z1@>?31305BCD?GWZ553?3Q5FHP3>L5CY5E571H31P3?V/12>05BCD?1H3136>8N

218>?/71H3Y8/?1F3Y8>65CC1>7/FJ7>B305HD5FJ7>CD13Y813>CGZ5CD?F5711

>LHV/D5FJ7>=>3CD8/P>?/71H3$;:GO9E$J?$JC?B:G;MP$A?CD?B:;<=P$WA?@?

>G<C:@:A=CH;?@?$,B$9:;;?P$>G=9C?K=;<<$?;?$<P==A$8;:T=;<=$³Q=CH;MI3

;=G:89=CH;MI´$]$>?$d[C?B:Gf$>:G?;<P?B$GEJJD?@?$O8MD:e/3$Q=C=J??LV

G:8;?$ET=JAH$<$J?T=A:=P?JAH$G:JJP:AG<B:=P?@?$JC?B:$B$9:;;?P$8;:T=V

;<<3$>?JD?CHDE$,D:D$EK=$?AP=T:C?JH/$J=P:;A<D:$JC?B:$;:<L?C==$>?C;?

G=:C<8E=AJO$B$=@?$J<;A:@P:A<T=JD<R$JBO8OR$,<C<$<;:T=\$B$J?T=A:=P?JA<$J

?>G=9=C=;;MP<$JC?B:P</($u:D<=$JBO8<$>?JC=9?B:A=CH;?$?AP=T:fAJO$B

JC?B:GOR$>:G?;<P?B3$:$A:DK=$B$d[C?B:G=$J?T=A:=P?JA<$GEJJD?@?$O8MV

D:e$>?9$G=9:DQ<=I$b(b($a?GD?BD<;:$<$c(U($"=;<J?B:(

Y<;@B<JA<T=JD:O$WDJ>=GA<8:3$>G?B?9<P:O$;:$?J;?B:;<<$8:>G?J:$?AV

;?J<A=CH;?$ 8;:T=;<O$<$<JA?CD?B:;<O$<;?JAG:;;MR$JC?B$ ,>G=<PEn=V

JAB=;;?$<;A=G;:Q<?;:CH;?@?$R:G:DA=G:/3$>G=Q=9=;A;MR$A=DJA?B$,B$A?P

T<JC=$B?J>G?<8B?9<PMR$B$GEJJD?I$G=T<$;:$O8MD=$?G<@<;:C:/3$E>?AG=LV

C=;;MR$ B$ ?>ELC<D?B:;;MR$ P:A=G<:C:R3$ >G=9sOBC=;;MR$ B$ 8:>G?J=3$ :

A:DK=$<J>?CH8E=PMR$J$D?PP=GT=JD<P<$Q=COP<$,;:>G<P=G3$D:D$A?B:GV

;M=$8;:D</3$>G=9>?C:@:=A$]$;:GO9E$J$<JJC=9?B:;<=P$J?9=GK:;<O$<$D?PV

>?8<Q<?;;?VG=T=B?I$JAGEDAEGM$>G=9C?K=;;MR$D$G:JJP?AG=;<f$A=DV

JA?B$ ,<C<$ A=DJA:/$ >G<P=;<A=CH;?$ D$ JC?B:P3$ >G=Q=9=;A;MP$ A=DJA:P3

<;A=G=JEfn<R$8:>G:r<B:fnEf$JA?G?;E3$]$?LG:n=;<=$D$C<;@B<JA<V

T=JD<P$<$W;Q<DC?>=9<T=JD<P$JC?B:GOP3$D$J>=Q<:CH;MP$JC?B:G;?VJ>G:V

B?T;MP$ <89:;<OP$ ,>G=K9=$ BJ=@?$ D$ A=GP<;?C?@<T=JD<P$ JC?B:GOP/3$ :

A:DK=$ D$ ;:ET;MP$ AGE9:P$ @EP:;<A:G;?@?$ >G?N<CO$ J$ Q=CHf$ <8BC=TH

N<C?C?@<T=JDEf$,B$A?P$T<JC=$C<;@B<JA<T=JDEf/$<$<JA?G<D?VDECHAEGV

;Ef$<;N?GP:Q<f3$;=?LR?9<PEf$9CO$D?P>C=DJ;?@?$BJ=JA?G?;;=@?$:;:V

C<8:$G=T=BMR$=9<;<Q3$A=DJA?B3$ED:8:;;MR$B$8:>G?J=$?$>G?B=9=;<<$C<;V

@B<JA<T=JD?I$WDJ>=GA<8M$<C<$<R$NG:@P=;A?B(

[En=JAB=;;:O$<;N?GP:Q<O$?$ 8;:T=;<<$<;?JAG:;;MR$JC?B3$>G=Q=V

9=;A;MR$ A=DJA?B3$ EJA?IT<BMR$ J?T=A:;<I3$ ?$ =9<;JAB=;;?$ B?8P?K;?P

'-$u:P$K=($[($+26(

'+$$[5=>?3-"#"$<$4?50>?/3!"M"$u?CD?BMI$JC?B:GH$GEJJD?@?$O8MD:($a(3$-))'($[($-*1(

SQQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*bQ*3BOAMCADEXLJ*OJCBOE*D*`CBTJIOL[Eg

SQR

1$+/0

)*6

-#4

%/)#&

+,

'%$%17>=8/0>?3%"%"$cG?LC=P:$:BA?GJAB:$<$A=?G<<$JA<C=I($a(3$-)1-($[($'+(

A=DJA:R3$:$A:DK=$G:8C<T;M=$>G<=PM3$J>?J?LM$EJ<C=;<O$BMG:8<A=CH;?V

JA<3$>?BMr=;<O$9=IJAB=;;?JA<$A=DJA?B(

X><G:OJH$;:$>=G=T<JC=;;M=$<$9GE@<=$T=GAM$>ELC<Q<JA<T=JD?@?$JA<V

CO3$WDJ>=GAVC<;@B<JA$9=C:=A$J??AB=AJABEfn<=$BMB?9M$?$R:G:DA=G=$E>?AV

G=LC=;<O$C=DJ<D<$<$NG:8=?C?@<<$B$<JJC=9E=P?P$A=DJA=$>G<P=;<A=CH;?

D$Q=COP$<$8:9:T:P$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M$<$D$B?>G?J:P3

>?JA:BC=;;MP$8:D:8T<D?P$9:;;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M(

#$JA<C<JA<D=$A=DJA:$]$D$?9;?PE$<8$JAGEDAEG;MR$G:89=C?B$C<;@B?JV

A<C<JA<D<$]$>G<L=@:fA3$D?@9:$AG=LE=AJO$?>G=9=C<AH$,B$J??AB=AJAB<<$J

>?JA:BC=;;MP<$>=G=9$WDJ>=GA:P<VC<;@B<JA:P<$B?>G?J:P</$K:;G$J>?GV

;MR$A=DJA?B3$:$A:DK=$B$>G?Q=JJ=$:;:C<8:$D?P>?8<Q<<$G:JJP:AG<B:=V

P?@?$A=DJA:3$J??A;?r=;<O$D?P>?8<Q<?;;MR$WC=P=;A?B$<$G=T=BMR$=9<V

;<Q$<C<$JA<C<JA<T=JD?@?$>G<=P:$B$<J>?CH8?B:;<<$O8MD?BMR$JG=9JAB(

U:>G<P=G3$B$E>?PO;EA?I$BMr=$C<;@B<JA<T=JD?I$WDJ>=GA<8=$,JP($J(

-11]-1'/$?A;?J<A=CH;?$EJA:;?BC=;<O$>G<;:9C=K;?JA<$:BA?GJD<R$P:V

A=G<:C?B$,B$D?C<T=JAB=$;=JD?CHD<R$9=JOAD?B/3$?>ELC<D?B:;;MR$B$@:8=V

A=$d#?PP=GJ:;A¶e$dD$K:;GE$<;N?GP:Q<?;;MR$8:P=A?D3$:;:C<8$>G=9V

C?K=;;MR$8:>G:r<B:=P?I$JA?G?;?I$A=DJA?B3$>G?B?9<CJO$;:$?J;?B=$>?V

;OA<I;?VD:A=@?G<:CH;?@?$:>>:G:A:$JA<C<JA<D<$A=DJA:$,J$>G<BC=T=;<V

=P$;=D?A?GMR$:J>=DA?B$NE;DQ<?;:CH;?I$JA<C<JA<D</(

Y<;@B<JA<T=JDEf$JE9=L;Ef$WDJ>=GA<8E$G?9;<A$J$@=GP=;=BA<T=JD<P

<JJC=9?B:;<=P$A=DJA:$d>?$B;EAG=;;=PE$JEn=JABE$JB?=PE$G:L?A:$JC?KV

;:O$A?;D:O3$:;:C<A<T=JD:O$<$>C:;?P=G;:O3$DG?>?AC<B:O$<$9<;:P<T=JV

D:Oe'%

3$>G<JEn:O$N<C?C?@<T=JD?I$<;A=G>G=A:Q<<$A=DJA:($a;?@?:J>=DV

A;?JAH$:;:C<8:$A=DJA:$B$R?9=$ JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M

?>G=9=CO=AJO$Q=CHf3$J?JA?On=I$B$A?P3$TA?$B$:;:C<8=$J>?G;?@?$A=DJA:

:DQ=;A$J9=C:;$;:$=@?$G:JJP?AG=;<=$B$fG<9<T=JD<R$:J>=DA:R(

ZA?$B:K;=Ir==$?LJA?OA=CHJAB?$EJE@ELCO=A$?AB=AJAB=;;?JAH$<JJC=9?V

B:A=C=I$J>?G;?@?$A=DJA:3$AG=LE=A3$J$?9;?I$JA?G?;M3$>?BMr=;;?I$An:V

A=CH;?JA<3$N:DA?C?@<T=JD?I3$DECHAEG;?V<JA?G<T=JD?I$<$<JA?G<D?VC<;V

@B<JA<T=JD?I$BMB=G=;;?JA<$:;:C<8:$J?9=GK:;<O$D?P>?8<Q<?;;?VG=T=V

B?I$JAGEDAEGM$G:JJP:AG<B:=P?@?$A=DJA:3$:$A:DK=$<JJC=9?B:;<O$=@?$D?PV

PE;<D:A<B;?V>G:@P:A<T=JD?@?$R:G:DA=G:($[$9GE@?I$JA?G?;M$]$AG=LE=A

BMJ?D?I$;:ET;?I$DB:C<N<D:Q<<$C<;@B<JA?BVWDJ>=GA?B3$9?JD?;:CH;?@?

<$A?T;?@?$8;:;<O$<P<$GEJJD?@?$C<A=G:AEG;?@?$O8MD:3$=@?$JA<C<JA<T=JV

D?I$JAGEDAEGM3$J?BG=P=;;?I$G=T=B?I$D?PPE;<D:Q<<$B?$BJ=R$==$E8E:CHV

;MR$>G?OBC=;<OR3$BDCfT:O$;=;?GP<G?B:;;Ef$G=TH^$JB?L?9;?$?G<=;A<V

GEfn<RJO$B$<JA?G<?@G:N<<$<$A=DEn=I$L<LC<?@G:N<<$>?$>G?LC=P:P

D?P>C=DJ;?@?$P=K9<JQ<>C<;:G;?@?$N<C?C?@<T=JD?@?$<JJC=9?B:;<O$A=DV

JA?B3$B$J?B=Gr=;JAB=$?JB?<Br<R$J?BG=P=;;M=$P=A?9M$N<C?C?@<T=JD?V

@?$<JJC=9?B:;<O3$>G?N=JJ<?;:CH;?$BC:9=fn<R$<JJC=9?B:A=CHJD<P$<;V

JAGEP=;A:G<=P3$;=?LR?9<PMP$9CO$G=8ECHA:A<B;?@?$:;:C<8:$A=DJA:(

>ELC<D:Q<<($78$:GL<AG:K;?I$A=P:A<D<$BM9=COfAJO$8:>G?JM$;:$WDJV

>=GA;?=$8:DCfT=;<=$?A;?J<A=CH;?$:/$<;A=G>G=A:Q<<$A=GP<;?B3$BMG:V

K=;<I3$?A9=CH;MR$JC?B3$$D?A?GM=$BM8MB:fA$J>?G$<C<$AG=LEfA$EA?T;=V

;<O$<R$>?;<P:;<O$>G<$A?CD?B:;<<$@G:K9:;JD?V>G:B?BMR$9?@?B?G?B$<

N<;:;J?BMR$?LO8:A=CHJAB$<C<$>?98:D?;;MR$9?DEP=;A?B$<$A(>(^$L/$9CO

?Ls=DA<B;?@?$G:8G=r=;<O$J>?G?B$?L$?G<@<;:CH;?JA<$<$;?B<8;=$;:<V

P=;?B:;<I$N<GPM3$D:D<RVC<L?$<89=C<I3$?$JR?9JAB=$?L?8;:T=;<I$<$A(>(

_;:C<8$JE9=L;MR$C<;@B<JA<T=JD<R$WDJ>=GA<83$ 8:DCfT=;<I$J>=Q<:V

C<JA?BVC<;@B<JA?B3$;:ET;?VD?;JECHA:A<B;MR$8:DCfT=;<I$>?$fG<9<T=JV

D<P$>?B?9:P$>?8B?CO=A$J9=C:AH$?>G=9=C=;;MI$BMB?9$?$>=GB?JA=>=;;?I

8;:T<P?JA<$C<;@B?JA<C<JA<D<$9CO$<JJC=9?B:;<O$J>?G;MR$A=DJA?B$J$Q=V

CHf\$:/$EJA:;?B<AH3$>?9>:9:fA$C<$ED:8:;;M=$B$8:>G?J:R$G=T=BM=$=9<;<V

QM3$NG:@P=;AM$A=DJA?B$>?9$>G<8;:D<$D?;DG=A;?@?$9=O;<O3$>G<8;:B:=V

P?@?$8:D?;?9:A=CH;?I$;?GP?I$>G:B?;:GEr=;<=P3$<C<$?;<$A:D?BMP<

;=$OBCOfAJO^$L/$>G=9?JA:B<AH$8:>G:r<B:fn=I$JA?G?;=$?9;?8;:T;?=$A?CV

D?B:;<=$A=GP<;?B3$?L?G?A?B$G=T<3$?A9=CH;MR$JC?B3$fG<9<T=JD<$ ,<C<

D?PP=GT=JD</$8;:T<PMR$B$?N<Q<:CH;MR$9?DEP=;A:R3$:$A:DK=$>G<$;:<V

P=;?B:;<<$D?P>:;<I3$P:G?D$<89=C<I3$B:G<:;A?B$A?B:G;MR$8;:D?B$<$A(>(^

B/$?>G=9=C<AH$K:;G?B?VA=P:A<T=JDEf$>G<;:9C=K;?JAH$>G=9C?K=;;?@?

B$8:>G?J=$A=DJA:3$J>=Q<:CH;?$?@?B?G=;;Ef$B$8:D?;?9:A=CH;?P$:DA=3$<C<

K:;G$<;A=G=JEfn=@?$8:>G:r<B:=PEf$JA?G?;E$A=DJA:(

b$R?9=$:;:C<8:$J??AB=AJABEfn<R$A=DJA?B3$<R$NG:@P=;A?B3$?A9=CHV

;MR$JC?B3$ JC?B?J?T=A:;<I3$NG:8$:DAE:C<8<GEfAJO$B$>=GBEf$?T=G=9H

>?;OA<O$<$D:A=@?G<<$>G:DA<T=JD?I$JA<C<JA<D<$]$JAGEDAEG;?@?$G:89=V

C:$ C<;@B?JA<C<JA<D<3$ <JJC=9Efn=@?$ NE;DQ<?;<G?B:;<=$ O8MD?BMR

=9<;<Q$J?BG=P=;;?@?$GEJJD?@?$#&="02=L03(@($O8MD:$,A(=($J?@C:J;?$AG=V

L?B:;<OP$C<A=G:AEG;MR$;?GP/$B$A<><T=JD<R$D?;A=DJA:R$<$G=T=BMR$J<V

AE:Q<OR$<$J??AB=AJAB=;;?$]$E>?AG=LC=;<=$A:D<R$=9<;<Q$B$G=T=B?I$D?PV

PE;<D:Q<<$;?J<A=C=I$C<A=G:AEG;?@?$O8MD:3$>G=<PEn=JAB=;;?$]$B$?LV

n=C<A=G:AEG;?P$E>?AG=LC=;<<(

XLG:n=;<=$D$9GE@?PE$JAGEDAEG;?PE$G:89=CE$C<;@B?JA<C<JA<D<$]

NE;DQ<?;:CH;?I$ JA<C<JA<D=$ ]$ ;=?LR?9<P?$ 9CO$ :;:C<8:3$ B?V>=GBMR3

>ELC<Q<JA<T=JD?I$C=DJ<D<$<$NG:8=?C?@<<^$B?VBA?GMR3$>=G=;?J;?VP=V

A:N?G<T=JD?@?$E>?AG=LC=;<O$JC?B$<$EJA?IT<BMR$J?T=A:;<I3$B$G=8ECHV

A:A=$T=@?$A:D<=$G=T=BM=$=9<;<QM$BMJAE>:fA$J$D?;;?A:A<B;MP<$8;:V

T=;<OP<3$J$WP?Q<?;:CH;?VWDJ>G=JJ<B;MP<$?AA=;D:P<$,>G=<PEn=JAB=;V

;?$;=@:A<B;?@?$R:G:DA=G:/$<C<$J$?AG<Q:A=CH;?I$?Q=;D?I^$BVAG=AH<R3

:DAE:CH;MR$9CO$>ELC<Q<JA<D<$JA<C<JA<T=JD<R$>G<=P?B$<$<8?LG:8<V

A=CH;?VBMG:8<A=CH;MR$JG=9JAB(

cG<$<JJC=9?B:;<<$@:8=A;MR$>ELC<D:Q<I$dB$<;A=G=J:Re$ JE9=L;?I

C<;@B<JA<T=JD?I$WDJ>=GA<8M$;:$>=GBMI$>C:;$BM9B<@:fAJO$?Ln<=$8:V

D?;?P=G;?JA<3$>G<JEn<=$>ELC<Q<JA<T=JD?PE$JA<Cf$,:$@:8=A;M=$>ELV

C<D:Q<<3$D:D$<8B=JA;?3$?A;?JOAJO$D$>ELC<Q<JA<T=JD?PE$JA<Cf/3$?J?V

L=;;?JA<$E>?AG=LC=;<O$C=DJ<D<$<$NG:8=?C?@<<$B$>ELC<Q<JA<T=JD<R

SRT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*eQ*0BXADXE_*XEfVXA?WJOAKLVJBCE_*MLOJIEOfIE

SRS

1$+/0

)*6

-#4

%/)#&

+,

S:L?A:$ :9G=JE=AJO$ D:D$ ET=;MPVA=?G=A<D:P3$ A:D$ <$ >G:DA<T=JD<P

G:L?A;<D:P\$ @?JE9:GJAB=;;MP$?LB<;<A=COP$<$:9B?D:A:P3$?JEn=JABV

COfn<P$JE9?@?B?G=;<=$B$JE9=(

]$-,i,*!2023(),*?&3@)&4=&%"4'2A*B'4C"0=&D2*="'4=2G*="(0&A*&*C02'N

=&'2G*L%"1,*C(4(1&"*l*_(U(0:G:;?B,*$]$a(\$FC<;A:\$U:ED:3$+22'($$]$6)+$J(

ghij$)'*V6V)'16V22*%V)^$)'*V6V2+V2%&61-V&(

c?J?L<=$>?JBOn=;?$;?B?PE$;:>G:BC=;<f$B$>G<DC:9;?I$C<;@B<JV

A<D=3$B$D?A?G?P$G:8G:L:AMB:fAJO$P=A?9M3$>?8B?COfn<=$:;:C<8<G?V

B:AH$J?9=GK:;<=$A=DJA:3$?>G=9=COO3$TA?$@?B?G<AJO$<$TA?$>?9G:8EP=B:V

=AJO$B$;oP3$>G=9JA:BCOAH$B$OB;?I$,WDJ>C<Q<A;?I/$N?GP=($S:8L<G:fAJO

>G<P=GM$:;:C<8:$N=;?P=;?B$O8MD:$<$G=T<3$JA:;?BOn<RJO$>G=9P=A?P

J>?G:$B$JE9:R$<$A=P$J:PMP$B:K;MR$9CO$WDJ>=GA<8M$A=DJA?B$[a7($_;:V

C<8<GEfAJO$<$?LJEK9:fAJO$T:JA?$<J>?CH8E=PM=$>G<=PM$P:;<>EC<G?V

B:;<O$J?8;:;<=P($#;<@:$<CCfJAG<G?B:;:$O8MD?BMP$P:A=G<:C?P3$?JV

;?B:;;MP$;:$D:GA?A=D=$WDJ>=GA<8$>?$9=C:P$?$8:n<A=$T=JA<$<$9?JA?<;V

JAB:3$G:8K<@:;<<$P=K;:Q<?;:CH;?I$G?8;<3$?JD?GLC=;<OR3$>?$9=C:P$B

JN=G=$A?B:G;MR$P:G?D$<$>:A=;A?B=9=;<O($":;$:;:C<8$WDJ>=GA<8:P$>?

9=C:P3$BM8B:Br<P$r<G?D<I$?Ln=JAB=;;MI$G=8?;:;J$,9=C?$0:O;:$�<V

GO;?B:$<$9=C?$d_G?O;$>G?A<B$#<GD?G?B:e/($"CO$JAE9=;A?B3$:J><G:;V

A?B$<$>G=>?9:B:A=C=I$N<C?C?@<T=JD<R$<$C<;@B<JA<T=JD<R$N:DECHA=V

A?B$ BE8?B3$ N<C?C?@?B3$ G:L?A:fn<R$ B$ ?LC:JA<$ C<;@B<JA<T=JD<R$ WDJV

>=GA<83$fG<JA?B3$8:;<P:fn<RJO$>G:B?BMP$?L=J>=T=;<=P$9=OA=CH;?JV

A<$[a7$<$>ELC<T;?I$>?C<A<D<3$:$A:DK=$9CO$KEG;:C<JA?B(

]$7,:,*!"#A3&3,*:4&F(#&3@)&4=&'2G*U%"13&'*l*b(c(0=CO;<;($]$a(\$FC<;V

A:\$ac[73$+22)($]$$&-1$J($ghij$)'*V6V)'16V2'&%V+^$)'*V6V)''2V2%'*V2(

b$ET=L;<D=$>G=9JA:BC=;M$?J;?B;M=$>G?LC=PM$>J<R?C<;@B<JA<D<(

XJB=n:fAJO$ ?Ln<=$ B?>G?JM$ A=?G<<$ G=T=B?I$ 9=OA=CH;?JA<3$ T:JA;M=

>G<C?K=;<O$WA?I$9<JQ<>C<;M$<$>G<B?9OAJO$D?;DG=A;M=$>G<P=GM$<8

?A=T=JAB=;;?I$<$J?BG=P=;;?I$8:GEL=K;?I$;:ET;?I$C<A=G:AEGM($#;<V

@:$G:JJT<A:;:$;:$JAE9=;A?B$JA:Gr<R$DEGJ?B$>J<R?C?@<T=JD<R$<$@EP:V

;<A:G;MR$N:DECHA=A?B3$B$>G?@G:PPM$D?A?GMR$BR?9<A$<C<$P?K=A$LMAH

BDCfT=;:$>J<R?C<;@B<JA<D:($bP=JA=$J$A=P$ET=L;<D$;:><J:;$9CO$BJ=R

A=R3$D?@?$<;A=G=JEfA$>G?LC=PM$O8MD:$<$J?8;:;<O3$O8MD?B?I$C<T;?JV

A<3$G=T=B?@?$B?89=IJAB<O$<$P:;<>ECOQ<<(

]$V,9,*!0&3"),*d"(0"=&%"4'2A*#&3@)&4=&'2*&* 4L;"132A*#&3@)&4=&N

%"4'2A*B'4C"0=&D2,*6(3(@02b&A,$]$0:G;:EC3$_4c_3$+22)($]$+6+$J($ghij

)'*V6V**+-2V&1&V2(

S:L?A:$$?9:G=;;?@?$L:G;:ECHJD?@?$ET=;?@?$#(7(0G<;=B:3$ET=;<D:

J?89:A=CO$ _CA:IJD?I$ rD?CM$ C<;@B?DG<P<;:C<JA<D<$ <$ _JJ?Q<:Q<<

WDJ>=GA?BVC<;@B<JA?B$dY=DJ<Je$>G?N($U("(4?C=B:3$P?K=A$LMAH$;:8B:V

(DNEU6R"+N@>H@DX6@DaW@>bCFE>JAWFNBDX6GAEF?DEa?DZ>6H>Z?>NDC6GA@VHANEAWFNB>c6YBNZF?EA[\m?FB>CF@JaFCDX6N>E?aJ@ABDC6/>NB>C@DJ[>?DJGX6Z>H\pF@AX6BHDGAoABDfAA

*?DEBAc6DGoDHAE@\c6ZF?FWF@U6A[JD@Ac6jN6D@@>EDfAXCAk

]$-,R,-#"'423;0(),*7)";"3&"*)*4L;"13Lg*#&3@)&4=&'L,* $]$U<K;<I

U?B@?G?9\$U<K=@?G?9JD:O$>G:B?B:O$:D:9=P<O3$+22%($]$&+2$J($ghij$6V

*+1%V22%)V1(

b$ P?;?@G:N<<$ <8C?K=;M$ ?J;?BM$ >J<R?C<;@B<JA<T=JD?I$ A=?G<<

>G:B:$ ,Y8/?>�D5@CD/3$G:8G:L?A:;;?I$:BA?G?P($":;;:O$A=?G<O$ J?T=V

A:=A$B$J=L=$WC=P=;AM$>J<R?C?@<T=JD?I$A=?G<<$>G:B:$Y($c=AG:K<QD?V

@?3$ :$ A:DK=$ DG<A<T=JD<R$ >G:B?BMR$ <JJC=9?B:;<I$ ,²·h/$ ]$ ?9;?@?$ <8

;:L<G:fn<R$J<CE$A=T=;<I$B$N<C?J?N<<$>G:B:(

_BA?G$9:=A$D?PP=;A:G<I$;?GP$!c#$SF3$G=@EC<GEfn<R$JE9=L;?=

G:8L<G:A=CHJAB?$>?$E@?C?B;?PE$9=CE($XJ;?B;?=$B;<P:;<=$E9=CO=AJO

JE9=L;?PE$JC=9JAB<f($b$A?P$T<JC=$A?CDEfAJO$;?B=CCM3$D:J:fn<=JO

>G?B=9=;<O$>GOP?@?$<$>=G=DG=JA;?@?$9?>G?J:3$:$A:DK=$>G?T<R$JE9=LV

;MR$9=IJAB<I(

a?;?@G:N<O$OBCO=AJO$>=GBMP$B$S?JJ<<$AGE9?P$>?$JE9=L;?I$C<;@V

B<JA<D=$,d¸wx}�{�v$·���z�{��v{e/$]$?9;?PE$<8$;:ET;MR$;:>G:BC=;<I3$<;V

A=;J<B;?$ G:8B<B:=PMR$ B$ DGE>;MR$ E;<B=GJ<A=AJD<R$ Q=;AG:R$ �BG?>M

<$ _P=G<D<$ ,0<GP<;@=;JD<I$ E;<B=GJ<A=A/($ b>=GBM=$ B$ ?A=T=JAB=;;?I

;:ED=$:BA?G$G:JJP:AG<B:=A$JEn;?JAH$JE9=L;?I$<JA<;M3$JE9=L;?@?$9?V

D:8:A=CHJAB:$B$JB=A=$A=?G<<$:G@EP=;A:Q<<$<$G<A?G<D<($":;M$>G:DA<V

T=JD<=$G=D?P=;9:Q<<$>?$A:DA<D=$<$A=R;<D:P$>G=9JA:BC=;<O$<$<JJC=9?V

B:;<O$9?D:8:A=CHJAB$B$ JE9=L;?P$8:J=9:;<<3$:G@EP=;A<G?B:;<f3$>J<V

R?C<;@B<JA<T=JD?PE$B?89=IJAB<f$;:$:E9<A?G<f$<$9GE@<P$>G?LC=P:P

JE9=L;?I$G=T=9=OA=CH;?JA<(

SRh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*eQ*0BXADXE_*XEfVXA?WJOAKLVJBCE_*MLOJIEOfIE

SRI

1$+/0

)*6

-#4

%/)#&

+,

?LC:9:AH$9CO$A?@?3$TA?LM$9:AH$?L?J;?B:;;?=$ 8:DCfT=;<=$>?$B?>G?V

J:P3$G:8sOJ;=;<=$D?A?GMR$;=?LR?9<P?$9CO$G:8G=r=;<O$D?;DG=A;?@?

JE9=L;?@?$9=C:�$XAB=T:O$;:$WA<$B?>G?JM3$:BA?G$9:=A$WDJ>=GA:P$>G:DV

A<T=JD<=$G=D?P=;9:Q<<$;:ET;?@?$<$?G@:;<8:Q<?;;?@?$R:G:DA=G:($_BV

A?G$>G=9C:@:=A$J?B=Gr=;JAB?B:;<=$P=A?9<D$<JJC=9?B:;<O$G=T=BMR$>G?V

<8B=9=;<I$<$>?BMr=;<O$WNN=DA<B;?JA<$BMB?9?B$WDJ>=GA?B$J$ET=A?P

JE9=L;?I$>=GJ>=DA<BM(

]$ j,9,*/2#Aa&32,* ?&3@)&4=&'2* ��* B'4=0"J&DJG* 7* C(J(H$* 4L;$AJ.

4#";()2="#AJ.*B'4C"0=2J*l*>?9$G=9($a(b(4?GL:;=BJD?@?($$]$a(\$`G<9<V

T=JD<I$P<G3$+221($]$)1$J($ghij$6V*66)'V21&V'(

#;<@:$>G?N=JJ?G:$�(7(4:COr<;?I3$9?DA?G:$N<C?C?@<T=JD<R$<$9?DV

A?G:$fG<9<T=JD<R$;:ED3$TC=;:$>G:BC=;<O$4YZ"7[3$>?JBOn=;:$?9;?I

<8$B:K;MR$N?GP$>G?A<B?JA?O;<O$?Ln=JAB:$WDJAG=P<8PE$<$=@?$DG:I;=V

PE$>G?OBC=;<f$]$A=GG?G<8PE($b$;=I$?><JMB:fAJO$9:;;M=$J?Q<:CH;?

?>:J;M=$OBC=;<O3$<R$?AC<T<A=CH;M=$JB?IJAB:$<$?J;?B;M=$?J?L=;;?JV

A<3$:;:C<8<GE=AJO$ J?BG=P=;;:O$;?GP:A<B;?V>G:B?B:O$L:8:$L?GHLM$J

;<P<$,9?$>G<;OA<O$Fp$q$--&$SF/($X9;:D?$@C:B;?=$9?JA?<;JAB?$G:L?V

AM$J?JA?<A$B$A?P3$TA?$?;:$8;:D?P<A$T<A:A=CO$J$?J;?B;MP<$B?>G?J:P<3

B?8;<D:fn<P<$B$>G:DA<D=$;:8;:T=;<O$<$>G?<8B?9JAB:$C<;@B<JA<T=JV

D<R$WDJ>=GA<8$WDJAG=P<JAJD<R$P:A=G<:C?B3$9:=A$G=D?P=;9:Q<<$>?$;:V

8;:T=;<f3$>G?B=9=;<f3$?Q=;D=$ 8:DCfT=;<I$JE9=L;MR$C<;@B<JA<T=JV

D<R$WDJ>=GA<8$G:8;??LG:8;MR$A=DJA?B3$DB:C<N<Q<GE=PMR$>G?DEG:AEV

G?I$<$JE9?P$B$D:T=JAB=$WDJAG=P<JAJD<R$P:A=G<:C?B(

]$eX#2A*#2A*J2="032A}fG*JL($JA($�$>?9$G=9($b(7(5=CHB<J:($]$a(\$Y:9?V

P<G3$+226($]$1&%$J($,ZG?A<D:$B$GEJJD?I$C<A=G:AEG=/($ghij$6V*1+-*V%)+V+(

[L?G;<D$ JA:A=I$ dpC:O$ C:O$ P:A=G;:O�e$ >?JBOn=;$ <JJC=9?B:;<f

A=PM3$D?A?G:O$B$>?JC=9;<=$9=JOA<C=A<O$BJ=$L?C==$<;A=G=JE=A$J?Q<?V$<

WA;?C<;@B<JA?B$BJ=@?$P<G:($7;B=DA<B;:O$<$>G=K9=$BJ=@?$?LJQ=;;:O

,;=;?GP:A<B;:O3$A:LE<G?B:;;:O/$C=DJ<D:3$>?>ECOG;:O$B$CfL?I$DECHV

AEG=3$;:D?;=Q$>G<BC=DC:$B;<P:;<=$<JJC=9?B:A=C=I3$>MA:fn<RJO$>?V

;OAH$?J?L=;;?JA<$JC?B3$D?A?GM=3$J$?9;?I$JA?G?;M3$9?CK;M$LMAH$<8B=V

JA;M$:LJ?CfA;?$D:K9?PE$;?J<A=Cf$O8MD:3$:$J$9GE@?I$]$B$Q=C?P$GO9=

JCET:=B$LMAH$8:>G=n=;;MP<$D$E>?AG=LC=;<f($[?B=Gr=;;?$?T=B<9;?3

TA?$>G<$G:8G:L?AD=$WA?I$A=PM$;=<8L=K;?$?LG:n=;<=$D$>G?LC=P:P$J?V

8;:;<O$<$>?9J?8;:;<O3$ 8:>G=A?B$<$A:LE3$WBN=P<8P?B$<$9<JN=P<8P?B3

K:G@?;?B$<$>G?JA?G=T<O($_BA?GM$JA:A=I$<8$S?JJ<<$<$GO9:$9GE@<R$JAG:;

>MA:fAJO$9:AH$?AB=AM$R?AO$LM$;:$T:JAH$WA<R$B?>G?J?B($[L?G;<D$>G=9V

;:8;:T:=AJO$9CO$ J>=Q<:C<JA?B$B$?LC:JA<$N<C?C?@<<3$ WA;?V$<$ J?Q<?V

C<;@B<JA<D<(

;:$?9;?I$<R$CETr<R$D;<@$>?JC=9;<R$C=A$>?$JE9=L;MP$C<;@B<JA<T=JV

D<P$WDJ>=GA<8:P($X;:$OBCO=AJO$;?BMP$JC?B?P$B$A=?G<<$C<;@B?DG<P<V

;:C<JA<D<($a;?@<=$G:89=CM$D;<@<$>?JBOn=;M$P=A?9<D=$:;:C<8:$J>?GV

;MR$A=DJA?B$>?$9=C:P$?$G:8K<@:;<<$P=K;:Q<?;:CH;?I3$G=C<@<?8;?I3

J?Q<:CH;?I$G?8;<$<$>G<8MB:P$D$WDJAG=P<JAJD?I$9=OA=CH;?JA<($b$P?V

;?@G:N<<$<JJC=9?B:;M$A=?G=A<T=JD<=$?J;?BM$C<;@B<JA<T=JD?I$WDJ>=GV

A?C?@<<3$?R:G:DA=G<8?B:;M$8:9:T<3$JA?On<=$>=G=9$C<;@B<JA?PVWDJ>=GV

A?P$>G<$>G?B=9=;<<$JE9=L;?I$C<;@B<JA<T=JD?I$WDJ>=GA<8M3$?T=GT=;M

>G=9=CM$D?P>=A=;Q<<$C<;@B<JA:VWDJ>=GA:($789:;<=$?G<=;A<G?B:;?$;:

J>=Q<:C<JA?B$B$?LC:JA<$fG<9<T=JD?I$C<;@B<JA<D<$ ,>G=>?9:B:A=C=I3

C<;@B<JA?BVWDJ>=GA?B/3$ :$ A:DK=$ JE9=I3$ JC=9?B:A=C=I3$ 9?8;:B:A=C=I3

:9B?D:A?B3$fG<JD?;JECHA?B(

]$7(DJ(h3(4=&*C0(&D)(;4=)2*4L;"13(5*B'4C"0=&DE*)*@(4L;204=)"3N

3EF*4L;"13(NB'4C"0=3EF*L%0"h;"3&AF*6&3g4=2*M(44&&,*U:ET;?=$<8V

9:;<=($]$a(\$_Uu7"XS3$+22&($]$6-+$J($ghij$6V)%'6-V2+2V*(

#?CC=DA<B;:O$P?;?@G:N<O$>G=9;:8;:T=;:$9CO$JE9=I3$JC=9?B:A=C=I

<$:9B?D:A?B($X;:$B$G:B;?I$JA=>=;<$:9G=J?B:;:$?L=<P$JA?G?;:P$V$D:D

JA?G?;=$?LB<;=;<O3$ A:D$<$ JA?G?;=$ 8:n<AM($b$;=I$9:;?$?><J:;<=$?JV

;?B;MR$B<9?B$JE9=L;MR$WDJ>=GA<83$BM>?C;O=PMR$B$WDJ>=GA;MR$ETG=KV

9=;<OR$a<;fJA:$S?JJ<<3$B$A?P$T<JC=3$C<;@B<JA<T=JD?I3$>?T=GD?B=9V

T=JD?I$<$<JA?G<D?V<JDEJJAB?B=9T=JD?I$WDJ>=GA<8M($#;<@:$>G=9JA:BV

CO=A$J?L?I$J>G:B?T;<D3$D?A?GMI$>?P?K=A$?>G=9=C<AH3$D:D:O$<P=;;?

WDJ>=GA<8:$;EK;:$B$D?;DG=A;?I$J<AE:Q<<3$D:D<=$<P=;;?$?Ls=DAM$<$B

D:D?P$B<9=$>?AG=LE=AJO$>G=9?JA:B<AH$B$WDJ>=GA;?=$ETG=K9=;<=($#G?V

P=$A?@?3$B$D;<@=$?>ELC<D?B:;M$BJ=$9=IJABEfn<=$;?GP:A<B;M=$9?DEV

P=;AM3$B$ J??AB=AJAB<<$J$D?A?GMP<$?G@:;<8EfAJO$<$>G?B?9OAJO$ WDJV

>=GA;M=$<JJC=9?B:;<O($ZA<$9?DEP=;AM$>?P?@EA$>G<$?Q=;D=$8:DCfT=V

;<O$ WDJ>=GA:$ J$ A?TD<$ 8G=;<O$ =@?$ 9?JA?B=G;?JA<3$ BJ=JA?G?;;?JA<$ <

?Ls=DA<B;?JA<(

]$j,9,*/2#Aa&32,*]43()E*4L;"13(@(*0"%")";"3&AG*a?;?@G:N<O$�*>?9

G=9($a(b(4?GL:;=BJD?@?($]$a(\$[AW;J<3$+22%($]$+%1$J($ghij$6V*-%'V2--%V%(

a?;?@G:N<O$?9;?@?$<8$J:PMR$<8B=JA;MR$G?JJI<JD<R$WDJ>=GA?BVC<;V

@B<JA?B$8;:D?P<A$T<A:A=CO$J$?J;?B:P<$;?B?@?$;:ET;?@?$;:>G:BC=;<O$]

JE9=L;?@?$G=T=B=9=;<O3$]$:DA<B;?$N?GP<GEfn=@?JO$;:$?J;?B=$?L?LV

n=;<O$>G:DA<T=JD?@?$?>MA:$>G?B=9=;<O$C<;@B<JA<T=JD<R$WDJ>=GA<8(

b$Q=;AG=$B;<P:;<O$:BA?G:$]$?>MA;=Ir=@?$J>=Q<:C<JA:$B$?LC:JA<$JEV

9=L;?I$WDJ>=GA<8M$<$C<;@B<JA<D<$]$;:R?9OAJO$P=A?9?C?@<T=JD<=$>G?V

LC=PM3$C=K:n<=$B$?J;?B=$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<$C<;@B<JV

A:$<C<$G=T=B=9:($tA?$?>G=9=CO=A$?Ls=P$<$>G=9=CM$J>=Q<:CH;MR$>?8;:V

;<I$WDJ>=GA:3$?JEn=JABCOfn=@?$C<;@B<JA<T=JDEf$WDJ>=GA<8E�$#:D<V

P<$A=?G=A<T=JD<P<$8;:;<OP<$<$>G:DA<T=JD<P<$;:BMD:P<$?;$9?CK=;

SRL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*eQ*0BXADXE_*XEfVXA?WJOAKLVJBCE_*MLOJIEOfIE

SRM

1$+/0

)*6

-#4

%/)#&

+,

G:;A:P$ N:DECHA=A?B$ <$ ?A9=C=;<I$ fG<J>GE9=;Q<<3$ KEG;:C<JA<D<$ <

N<C?C?@<<3$:$A:DK=$BJ=P3$DA?$<;A=G=JE=AJO$>G:B?BMP<$B?>G?J:P<$G=V

@EC<G?B:;<O$9=OA=CH;?JA<$JG=9JAB$P:JJ?B?I$<;N?GP:Q<<$<$:;:C<8?P

O8MD:$[a7(

�*R,7,*:(=2C"3'(.*-,7,]4=2a")4'&5,*c&bb2J2K&A*)*R69G*:0(1#"N

JE*C02)2*&*hL032#&4=&'&G*!T=L($>?J?L<=�$#4!($]$#G:J;?9:G3$+22-($]

%)2$J($ghij$6V'++-V2%)2V�(

b$WA?P$ET=L;?P$>?J?L<<$9?DA?G:$fG<9<T=JD<R$;:ED$[(b(c?A:>=;V

D?$ $<$D:;9<9:A:$N<C?C?@<T=JD<R$;:ED$_(b(XJA:r=BJD?@?$B>=GBM=$B

D?P>C=DJ;?P$B<9=$G:JJP:AG<B:fAJO$>G?LC=PM$9<NN:P:Q<<$B$[a7(

b$D;<@=$=JAH3$;:$;:r$B8@CO93$?T=;H$E9:T;M=$<$>?C=8;M=$G:89=CM$d"<NV

N:P:Q<?;;M=$:J>=DAM$JPMJC?B?@?$>?CO$B$ A=DJA:R$[a7e3$da=A?9M

C<;@B<JA<T=JD?@?$:;:C<8:$9CO$BMOBC=;<O$9<NN:P:Q<<$B$A=DJA:R$[a7e3

dY?@<D:$<$9<;:P<D=$?Q=;?D$B$A=DJA=e($c?;OA;?3$TA?$8;:;<=$WA?I$G:L?V

AM$J?B=Gr=;;?$;=L=J>?C=8;?$9CO$A=R3$DA?$<;A=G=JE=AJO$C<;@B<JA<T=JV

D?I$WDJ>=GA<8?I$J>?G;MR$A=DJA?B$[a7(

�*-,M,*M2=&3().*6,7,V0(D.*i,-,M2=&3()2,*]=)"=4=)"33(4=$*D2*02DN

h&@23&"* )02h;E* &* 3"32)&4=&,* :4&F(#(@(NC02)()2A* F202'="0&4=&'2* �

c?9$G=9($>G?N($_(S(S:A<;?B:($]$a(\$̀ GC<A<;?N?GP3$+226($]$+61$J($$ghij

6V)%+)6V-1&V*(

#;<@:$>?JBOn=;:$?9;?I$<8$:DAE:CH;MR$>G?LC=P$J?BG=P=;;?JA<$]

>G?A<B?9=IJAB<f$;:Q<?;:CH;?I3$G:J?B?I3$G=C<@<?8;?I3$ J?Q<:CH;?I

BG:K9=($b$;=I$B>=GBM=$G:JJP?AG=;M$>G:B?BM=$<$>J<R?C?@<T=JD<=$?J;?V

B:;<O$?AB=AJAB=;;?JA<$8:$J?B=Gr=;<=$>G=JAE>C=;<I$A:D?@?$G?9:$,JA($+*+

!#/3$ J>?J?LM$9<:@;?JA<D<$DG<P<;:CH;?I$DJ=;?N?L<<$B$>ELC<T;MR

BJAE>C=;<OR$<$JG=9JAB:R$P:JJ?B?I$<;N?GP:Q<<3$P=A?9M$<8?LC<T=;<O

B<;?B;MR$B$WA<R$9=O;<OR$;:$JC=9JAB<<$<$B$JE9=$>EA=P$>G?<8B?9JAB:$JEV

9=L;MR$>J<R?C<;@B<JA<T=JD<R$WDJ>=GA<8$<$;:ET;MR$D?;JECHA:Q<I(

�*j,M,*M(44&34'2A.*j,9,*/2#Aa&32.*-,6,*X&3&3,* d"(0&A* 4L;"13(5

B'4C"0=&DE*l*>?9$G=9($�(S(S?JJ<;JD?I$]$a(\$U?GP:3$+22)($]$%*&$J($ghij

)'*V6V&1*V22%2*V&(

!T=L;<D3$;:><J:;;MI$<8B=JA;MP<$G?JJ<IJD<P<$ET=;MP<$]$J>=Q<:V

C<JA:P<$B$?LC:JA<$A=?G<<$<$>G:DA<D<$JE9=L;?I$WDJ>=GA<8M3$?AG:K:=A

J?BG=P=;;?=$J?JA?O;<=$<$>=GJ>=DA<BM$G:8B<A<O$?Ln=I$A=?G<<$JE9=LV

;?I$WDJ>=GA<8M($78C?K=;<=$BJ=R$G:89=C?B$DEGJ:$?AB=T:=A$AG=L?B:;<V

OP$@?JE9:GJAB=;;?@?$JA:;9:GA:$BMJr=@?$>G?N=JJ<?;:CH;?@?$?LG:8?V

B:;<O$>?$J>=Q<:CH;?JAOP$d[E9=L;:O$WDJ>=GA<8:e$<$d`G<J>GE9=;Q<Oe(

b$D;<@=$G:JJP?AG=;M$A=?G=A<T=JD<=$<$?G@:;<8:Q<?;;M=$?J;?BM$JEV

9=L;?I$ WDJ>=GA<8M$ <$ JE9=L;?VWDJ>=GA;?I$ 9=OA=CH;?JA<3$ WDJ>=GA;M=

A=R;?C?@<<($"CO$JAE9=;A?B3$:J><G:;A?B$<$>G=>?9:B:A=C=I$BE8?B3$>G:DV

]$V2'*C0()"4=&*#&3@)&4=&%"4'Lg*B'4C"0=&DL*4C(03(@(*="'4=2�*:2N

JA='2*;#A*4L;"5.*g0&4=()*R69.*2;)('2=().*C0('L0(0().*4#";()2="#"5.

;(D32)2="#"5*&*B'4C"0=(),*+V=$<89(3$<J>G($<$9?>($�$>?9$G=9($a(b(4?GL:V

;=BJD?@?$]$a(\$`G<9<T=JD<I$a<G3$+221($]$--+$J($,0<LC<?A=TD:$fG<JA:

[a7/($ghij$6V**-+%V21)V*(

0G?rfG:$8;:D?P<A$T<A:A=CO$J$?J;?B;MP<$B?>G?J:P<$;:8;:T=;<O3

>G?B=9=;<O$ <$ ?N?GPC=;<O$ JE9=L;MR$ C<;@B<JA<T=JD<R$ WDJ>=GA<8$ >?

@G:K9:;JD<P$ <$ E@?C?B;MP$ 9=C:P3$ :GL<AG:K;MP$ J>?G:P3$ :$ A:DK=$ J

?9;<P$<8$ @?C?B;MR$G?JJ<IJD<R$ WDJ>=GA;MR$ETG=K9=;<I$]$4<CH9<=I

C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?V

G:P($789:;<=$:9G=J?B:;?$JE9HOP3$JC=9?B:A=COP3$>G?DEG?G:P3$WDJ>=GV

A:P3$:9B?D:A:P$<$fG<JD?;JECHA:P3$E$D?A?GMR$9:;;:O$D;<@:$>?CH8E=AV

JO$?J?L?I$>?>ECOG;?JAHf3$:$A:DK=$JAE9=;A:P$<$>G=>?9:B:A=COP(

]$6,-,*]42;%&5,*:02)()(5*'(3=0(#$*(02=(02,*]$a(\$_CH><;:$0<8;=J

0EDJ3$+22'($]$%-1$J($ghij$6V)1-&V2&+&V+^$)'*V6V)1-&V261+V2(

ZA?$?T=;H$J?BG=P=;;:O$>?$;:ET;?PE$>?9R?9E3$>?C=8;:O$D;<@:$$P?V

C?9?@?$?9:G=;;?@?$:BA?G:$<8$@?G?9:$#=P=G?B?($X9<;$<8$@C:B;MR$>?V

JAEC:A?B$D;<@<$A:D?B\$D:K9MI$>G?N=JJ<?;:CH;MI$?G:A?G3$KEG;:C<JA3

>?C<A<D$JAG=P<AJO$ J9=C:AH$ JB?f$G=TH$OGD?I3$?LG:8;?I$<$EL=9<A=CHV

;?I($b=9H$JC?B?$9CO$;=@?$]$?J;?B;?I$<;JAGEP=;A$9?JA<K=;<O$EJ>=R:$<

>G<8;:;<O^$?9;:D?$;=?JA?G?K;?$JD:8:;;?=$ JC?B?$P?K=A$>G<B=JA<$D

>G?B:CE($!PMrC=;;?$<C<$JCET:I;?$?G:A?G$P?K=A$;:;=JA<$?JD?GLC=V

;<=3$?>?G?T<AH$T=JAH$T=C?B=D:$<$EP:C<AH$=@?$9?JA?<;JAB?3$>G<8B:AH$D

;:J<C<f$<$WDJAG=P<JAJD<P$9=IJAB<OP($b$D;<@=$9:;M$G=D?P=;9:Q<<3

D?A?GM=$>?P?@EA$?G:A?G:P3$KEG;:C<JA:P3$>?C<A<D:P$JN?GP<G?B:AH

;:BMD<$>G:B?B?@?$J:P?D?;AG?CO$]$EP=;<O$BMJD:8MB:AHJO$OGD?3$;?$;=

>G=JAE>:O$ 8:D?;($ #;<@:$ L?@:A:$ >G<P=G:P<$ <8$ JE9=L;?I$ >G:DA<D<$ <

JE9=L;?VC<;@B<JA<T=JD<R$WDJ>=GA<8($b$;=I$>G<B?9<AJO$A:DK=$:;:C<8

G?JJ<IJD<R$8:D?;?9:A=CH;MR$:DA?B($S=D?P=;9E=P$?LG:A<AH$?J?L?=$B;<V

P:;<=$;:$@C:BE$+3$;?JOnEf$;:8B:;<=$d#G<P<;:CH;M=$>G?OBC=;<O$WDV

JAG=P<8P:$B$>ELC<T;MR$BMJAE>C=;<OR$<$C<A=G:AEG=e(

:(3A=&A*%"4=&.*;(4=(&34=)2*&*;"#()(5*0"CL=2K&&G*RC(03E"*="'4=E

R69*&*C0(1#"JE*&F*232#&D2*&*(K"3'&*g0&4=2J&*&*#&3@)&4=2J&($789(

+V=3$>=G=G:L($<$9?>(�$c?9$G=9($_(#($[<P?;?B:$<$a(b($4?GL:;=BJD?@?($]

a(\$a=9=O3$+22&($]$%+*$J($ghij$6V*-%'V2--'V1(

c=G=<89:;<=$G:L?A3$B>=GBM=$?>ELC<D?B:;;MR$B$-))'$<$-))*$@?9:R3

B$ >=G=G:L?A:;;?P$ <$ 9?>?C;=;;?P$ B<9=$ ?LEJC?BC=;?$ TG=8BMT:I;?I

B:K;?JAHf$B?>G?J?B$fG<9<T=JD?@?$<$C<;@B<JA<T=JD?@?$:;:C<8:$J>?GV

;MR$A=DJA?B$[a7$B$J?BG=P=;;MI$>=G<?93$R:G:DA=G<8Efn<IJO$JEn=V

JAB=;;MP$G?JA?P$JE9=L;MR$<JD?B$D$[a7$<$?A9=CH;MP$KEG;:C<JA:P(

#;<@:$P?K=A$LMAH$G=D?P=;9?B:;:$>G=>?9:B:A=COP3$JAE9=;A:P$<$:J><V

SRO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*eQ*0BXADXE_*XEfVXA?WJOAKLVJBCE_*MLOJIEOfIE

SRP

1$+/0

)*6

-#4

%/)#&

+,

?r<LD<$<$>G?JT=AM$KEG;:C<JA?B3$BC=DEn<=$8:$J?L?I$:9P<;<JAG:A<BV

;Ef3$@G:K9:;JDEf$<C<$9:K=$E@?C?B;Ef$?AB=AJAB=;;?JAH($X9;?BG=P=;V

;?$BMOBCOfAJO$;=D?A?GM=$JE9=L;M=$>G=A=;8<<$<JAQ?B$D$J>?G;MP$A=DV

JA:P3$>?$JEA<$OBCOfn<=JO$N?GP?I$9:BC=;<O$;:$[a7$<$B:G<:;A?P$;?V

B?I3$dJ>=Q<N<T=JD?Ie$Q=;8EGM($X>MA$F?;9:$8:n<AM$@C:J;?JA<$>?$<8V

9:;<f$B$+22+]+22%$@@($LC<8D?I$>?$A=P:A<D=$D;<@<$d�=;:$JC?B:e$>?D:V

8:C3$TA?$WA:$D;<@:$Fp4$<$4YZ"7[$;=$JCET:I;?$>G<BC=DC:$B;<P:;<=

:9B?D:A?B3$fG<JA?B$[a73$KEG;:C<JA?B3$JE9=I3$>G=9JA:B<A=C=I$JC=9V

JAB=;;MR$?G@:;?B3$WDJ>=GA?BVC<;@B<JA?B3$>G=>?9:B:A=C=I$<$JAE9=;A?B(

d"(0&A*&*C02'=&'2*#&3@)&4=&%"4'(@(*232#&D2*="'4=()*R69*)*4L;"1N

3EF*B'4C"0=&D2F*&*&3b(0J2K&(33EF*4C(02FG*a:A=G<:CM$P=KG=@<?;:CHV

;?@?$;:ET;?V>G:DA<T=JD?@?$J=P<;:G:($t:JAH$-$ �$>?9$G=9($a(b($4?GL:V

;=BJD?@?($$]$$a(\$7"$d4:C=G<Oe3$+22+($]$)1$J($ghij\$6V*-%'V22*&V1(

b$>=GBEf$T:JAH$D;<@<$BDCfT=;M$?J;?B;M=$<;N?GP:Q<?;;M=$P:A=V

G<:CM$P=KG=@<?;:CH;?@?$;:ET;?V>G:DA<T=JD?@?$J=P<;:G:$du=?G<O$<

>G:DA<D:$C<;@B<JA<T=JD?@?$:;:C<8:$A=DJA?B$[a7$B$JE9=L;MR$WDJ>=GV

A<8:R$<$<;N?GP:Q<?;;MR$J>?G:Re$,']*$9=D:LGO$+22+$@(/($X;:$LMC:$<8V

9:;:$4YZ"7[$;=>?JG=9JAB=;;?$D$;:T:CE$=@?$G:L?AM(

d"(0&A*&*C02'=&'2*#&3@)&4=&%"4'(@(*232#&D2*="'4=()*R69*)*4L;"1N

3EF*B'4C"0=&D2F*&*&3b(0J2K&(33EF*4C(02FG*62="0&2#E$P=KG=@<?;:CHV

;?@?$;:ET;?V>G:DA<T=JD?@?$J=P<;:G:($t:JAH$+$ �$>?9$G=9($a(b($4?GL:V

;=BJD?@?($$]$$a(\$7"$d4:C=G<Oe3$+22%($]$%+*$J($ghij\$6V*-%'V22**V)(

b?$BA?GEf$T:JAH$D;<@<$BDCfT=;M$?J;?B;M=$P:A=G<:CM$,A=DJAM$9?DV

C:9?B3$ J??Ln=;<I3$BMJAE>C=;<I3$N?A?@G:N<</$P=KG=@<?;:CH;?@?$;:V

ET;?V>G:DA<T=JD?@?$J=P<;:G:$du=?G<O$<$>G:DA<D:$C<;@B<JA<T=JD?@?

:;:C<8:$A=DJA?B$[a7$B$JE9=L;MR$WDJ>=GA<8:R$<$<;N?GP:Q<?;;MR$J>?V

G:Re$,']*$9=D:LGO$+22+$@(/^$D;<@:$<89:;:$4YZ"7[$>?$<A?@:P$=@?$G:L?V

AM($c?9G?L;MI$J><J?D$ET:JA;<D?B$,ET=;MR$<$J>=Q<:C<JA?B$<8$L?C==$T=P

+2$@?G?9?B$S?JJ<</3$:$A:DK=$>G?@G:PP:$J=P<;:G:3$=@?$Q=C<$<$8:9:T<3

EJA:B$4YZ"7[3$A=8<JM$<$<;M=$<;N?GP:Q<?;;?VP=A?9<T=JD<=$P:A=G<V

:CM$?>ELC<D?B:;M$B$>=GB?I$T:JA<$D;<@<$BMr=9r=I$B$9=D:LG=$+22+$@(

�*y"32*4#()2G*9D*C02'=&'&*#&3@)&4=&%"4'&F*B'4C"0=&D*="'4=()*R69

)*4L;"13EF*C0(K"442F*C(*D2H&="*%"4=&.*;(4=(&34=)2*&*;"#()(5*0"CL=2N

K&&**�*>?9$G=9($a(b($4?GL:;=BJD?@?($$]$$%V=$<89(3$<J>G($<$9?>($]$$a(\$7"

d4:C=G<Oe3$+22+($]$&+&$J($ghij$6V*-%'V22*%V*(

b$D;<@=3$>=GB:O$T:JAH3$D?A?G?I$]$E;<D:CH;:O$RG=JA?P:A<O3$J?LG:;M

<$>G?D?PP=;A<G?B:;M$A=DJAM$AG<9Q:A<$?9;?I$C<;@B<JA<T=JD?I$WDJ>=GV

A<8M3$BM>?C;=;;?I$B$R?9=$JE9=L;MR$>G?Q=JJ?B$>?$?LB<;=;<f$B$E;<K=V

;<<$T=JA<3$9?JA?<;JAB:$<$9=C?B?I$G=>EA:Q<<3$?JD?GLC=;<<$<$DC=B=A=(

789:;<=$JCEK<A$9?>?C;<A=CH;MP$>?J?L<=P$>?$A=P$DG<A=G<OP$DECHAEV

GM$G=T<3$D?A?GM=$9?CK;M$J>?J?LJAB?B:AH$?JB?L?K9=;<f$A=DJA?B$[a7

A<T=JD<R$G:L?A;<D?B$WDJ>=GA;MR3$JC=9JAB=;;MR3$JE9=L;MR$?G@:;?B$<

9GE@<R$fG<JA?B(

bMR?9$ B$ JB=A$ WA?@?$ LC=JAOn=@?$ ET=L;<D:$ ]$ G=8ECHA:A$ ?@G?P;?@?

?G@:;<8:A?GJD?@?$AGE9:$B<9;?@?$9=OA=CO$J?BG=P=;;?I$fG<J>GE9=;Q<<3

9?DA?G:$fG<9<T=JD<R$;:ED3$>G?N=JJ?G:3$>?CD?B;<D:$ab"$B$?AJA:BD=

�C=;M$S:N:<C?B;M$S?JJ<;JD?I($X;:$B;=JC:$;=?Q=;<PMI$BDC:9$B$G:8V

G:L?ADE$<$?>A<P<8:Q<f$9=IJABEfn=@?$G?JJ<IJD?@?$8:D?;?9:A=CHJAB:3

G=@C:P=;A<GEfn=@?$;:8;:T=;<=$<$>G?B=9=;<=$G:8;??LG:8;MR$JE9=L;MR

WDJ>=GA<8$<$9:CH;=Ir==$<J>?CH8?B:;<=$<R$G=8ECHA:A?B$<$BMB?9?B$B$R?9=

JC=9JAB<O$<$B$JE9=L;MR$>G?Q=JJ:R(

�*j,M,*M(44&34'2A,*V(JJ"3=20&5*'*W";"02#$3(JL*D2'(3L*e]*@(4L;20N

4=)"33(5*4L;"13(NB'4C"0=3(5*;"A="#$3(4=&*)*M(44&54'(5*W";"02K&&f,$]

a(\$cG:B?$<$p:D?;3$`G:IAV789:A3$+22+($]$%*&$J($ghij$$$6V'*6*V2-2&V%(

b$D;<@=$D?PP=;A<GEfAJO$;?GPM$F=9=G:CH;?@?$8:D?;:$dX$@?JE9:GV

JAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CH;?JA<$B$S?JJ<IJD?I$F=9=G:Q<<e(

a:A=G<:C$?J;?BMB:=AJO$;:$>G:B?BMR$:DA:R3$G=@EC<GEfn<R$WAE$9=OV

A=CH;?JAH3$?L?Ln=;<<$WDJ>=GA;?I3$JC=9JAB=;;?I$<$JE9=L;?I$>G:DA<V

D<3$ :;:C<8=$ G:L?AM$ JE9=L;?VWDJ>=GA;MR$ ETG=K9=;<I($ #?PP=;A:G<I

>?9@?A?BC=;$J$ET=A?P$>?C?K=;<I$>G<;OAMR$<$BJAE>:fn<R$B$J<CE$J$-

<fCO$+22+$@?9:$!@?C?B;?V>G?Q=JJE:CH;?@?$D?9=DJ:$S?JJ<IJD?I$F=9=V

G:Q<<$<$#?9=DJ:$S?JJ<IJD?I$F=9=G:Q<<$?L$:9P<;<JAG:A<B;MR$>G:V

B?;:GEr=;<OR($"CO$;:ET;MR$G:L?A;<D?B3$>G=>?9:B:A=C=I3$ :J><G:;V

A?B$<$ JAE9=;A?B3$ JE9=I3$ JE9=L;MR$WDJ>=GA?B3$G:L?A;<D?B$>G:B??RG:V

;<A=CH;MR$?G@:;?B3$fG<JA?BV>G:DA<D?B(

�* R'0E=("* BJ(K&(32#$3("* 4(;"0h23&"* R69* &* J"=(;E* "@(* (1�"'N

=&)3(5*;&2@3(4=&'&*�$c?9$G=9($_(_($Y=?;AH=B:3$"(_($Y=?;AH=B:($]$a(\

[PMJC3$+22&($]$++)$ J($ ,[=G<O$d0<LC<?A=D:$>J<R?C?@<<$<$>=9:@?@<D<

A?C=G:;A;?JA<e/($ ghij$6V*)%6'V-62V)(

ZA:$D?CC=DA<B;:O$P?;?@G:N<O$>?JBOn=;:$D?P>C=DJ;?PE$:;:C<8E

JDGMA?@?$WP?Q<?;:CH;?@?$J?9=GK:;<O$A=DJA?B$[a7$<$J?BG=P=;;MP

D:T=JAB=;;MP$<$D?C<T=JAB=;;MP3$WDJ>=GA;MP$<$D?P>HfA=G<8<G?B:;V

;MP$P=A?9:P$=@?$BMOBC=;<O$;:$P:A=G<:C=$DJ=;?N?L<<($X;:$:9G=J?B:V

;:$>J<R?C?@:P3$C<;@B<JA:P3$KEG;:C<JA:P3$fG<JA:P(

�*RC(03E"*="'4=E*R69*&*4L;"13E"*&4'&G*cELC<D:Q<<($"?DEP=;V

AM($ZDJ>=GA<8M($#?PP=;A:G<<$C<;@B<JA?B*�$>?9$G=9($a(b(4?GL:;=BJV

D?@?($$]$a(\$cG=JA<K3$+226($]$+22$J($ghij$6V)*-1)V2+-V1(

b$9:;;?=$<89:;<=$?A?LG:;M$>:D=AM$9?DEP=;A?B$ ,J>?G;M=$A=DJAM

>ELC<D:Q<I3$ <JD?BM=$ 8:OBC=;<O3$ 8:DCfT=;<O$ WDJ>=GA?BVC<;@B<JA?B/

T=AMG=R$D?;DG=A;MR$JE9=L;MR$9=C3$B?8LEK9=;;MR$>G?A<B$[a7$B$+22&V

+226$@@($ZDJ>=GAM$4YZ"7[$;:$D?;DG=A;MR$>G<P=G:R$9=P?;JAG<GEfA

SRQ

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*eQ*0BXADXE_*XEfVXA?WJOAKLVJBCE_*MLOJIEOfIE

SRR

1$+/0

)*6

-#4

%/)#&

+,

,>G<DC:9;?PE$ 8;:T=;<f/$ J=G<O$ JL?G;<D?B$ ;:ET;MR$ JA:A=I$ J$ ?Ln<P

;:8B:;<=P$d`S7[Y7U4b7[u7#_e$>G=9JA:BCO=A$J?L?I$>?C=8;=IV

r==$9=A<n=$?9;?@?$<8$J:PMR$<8B=JA;MR$$B$S?JJ<<$J>=Q<:C<JA?B$>?$A=V

?G<<$<$>G:DA<D=$fG<9<T=JD?I$C<;@B<JA<D<$9?DA?G:$N<C?C?@<T=JD<R

;:ED$>G?N=JJ?G:$U<D?C:O$":;<C?B<T:$4?C=B:$ ,0:G;:ECV#=P=G?B?/(

c?$J>G:B=9C<B?PE$8:P=T:;<f$J:P?@?$U("(4?C=B:3$;M;=$WA?A$JL?G;<D

;:ET;MR$JA:A=I$,D$+22)$@($EB<9=C?$JB=A$)$=@?$BM>EJD?B3$D:K9MI$<8$D?V

A?GMR$<P==A$?>G=9=C=;;Ef$A=P:A<T=JDEf$J>=Q<N<DE/$ $;:R?9<AJO$;:

JA:9<<$AG:;JN?GP:Q<<$B$=K=@?9;MI$KEG;:C$d`G<JC<;@B<JA<D:e$,JP(

JL($d`G<JC<;@<JA<D:V*e3$+22'$@(3$J($-2]--/(

�*xDE'*J(5}*:0(1#"J2*B=3&%"4'(5*&*0"#&@&(D3(5*3"="0C&J(4=&*)

0(44&54'&F*R69*l*[?JA($_(a(b=GR?BJD<I($]$a(\$SXX$d�=;AG$c:;?G:V

P:e3$+22+($]$+22$J($$,U:ET;?=$<89:;<=/($ghij$6V)&&+2V22*V-(

ZA?A$JL?G;<D$JA:A=I$>?JBOn=;$A=P=$WA;<T=JD?I$<$G=C<@<?8;?I$DJ=V

;?N?L<<$B$G?JJ<IJD<R$JG=9JAB:R$P:JJ?B?I$<;N?GP:Q<<$]$A:D$;:8MB:V

=P?PE$O8MDE$BG:K9M$,���}$ {y}}v�/($[L?G;<D$]$<A?@$><C?A;?@?$WA:>:

>G?=DA:$d�8MD$bG:K9M$B$G?JJ<IJD<R$[a7\$P?;<A?G<;@$<$?Ln=JAB=;V

;M=$9=IJAB<Oe3$G=:C<8?B:;;?@?$T=AMGHPO$;=>G:B<A=CHJAB=;;MP<$?G@:V

;<8:Q<OP<\$ 7;N?GP:Q<?;;?V<JJC=9?B:A=CHJD<P$ �=;AG?P$ dc:;?G:V

P:e3$a?JD?BJD?I$m=CHJ<;DJD?I$@GE>>?I3$�=;AG?P$G:8B<A<O$9=P?DG:V

A<<$<$>G:B$T=C?B=D:$<$F?;9?P$8:n<AM$@C:J;?JA<$B$+22-V+22+$@@($[L?GV

;<D$BDCfT:=A$B$J=LO$:;:C<8$>G?B=9=;;?@?$P?;<A?G<;@:$>G=JJM3$A=?V

G=A<T=JD<=$JA:AH<$?$>G?LC=P=$�8MD:$bG:K9M3$?LJEK9=;<=$B?8P?K;?V

JA=I$=o$>G:B?B?@?$<C<$<;?@?$G=@EC<G?B:;<O3$<;N?GP:Q<f$?L$:DQ<OR$B

G:PD:R$>G?=DA:3$>G<P=GM$;?GP:A<B;?@?$<$>G=Q=9=;A;?@?$G=@EC<G?V

B:;<O$B$;:r=I$JAG:;=$<$8:$==$>G=9=C:P<(

�*xDE'*)02h;E*)*R69*C(4#"*!"4#232G*:(&4'&*)02@2*&*(=)"=4=)"3N

3(4=$*hL032#&4=()G*"?DC:9$�*4(b(#?K=B;<D?B:($,7;N?GP:Q<?;;?V:;:V

C<A<T=JD<I$Q=;AG$d[?B:e\$���y\���}�w({w��Vv}��}x(xz�$/(

lXAT=A$>?$P?;<A?G<;@E$�8MD:$bG:K9M$B$G?JJ<IJD<R$[a73$>G?B=V

9=;;MI$�=;AG?P$d[Xb_e$B$>=G<?9$J$&$J=;AOLGO$>?$-1$?DAOLGO$+22&$@(

J>EJAO$>?CA?G:$P=JOQ:$>?JC=$AG:@<T=JD<R$ J?LMA<I$B$[=B=G;?I$XJ=V

A<<($ZA?$T=AB=GAMI$WA:>$<JJC=9?B:;<O3$>G?B?9<P?@?$J$+22-$@($B$G:PV

D:R$>G?=DA:$d�8MD$bG:K9M$B$G?JJ<IJD<R$[a7e($cG=9M9En<=$WA:>M

>G?R?9<C<$?J=;Hf$+22-$]$B=J;?I$+22+$@(3$B$;?OLG=$+22+$]$N=BG:C=$+22%$@(

,P?;<A?G<;@$>?JC=$A=G:DA:$;:$"ELG?BD=/$<$B$J=;AOLG=V9=D:LG=$+22%$@(

,>:GC:P=;AJD:O$<8L<G:A=CH;:O$D:P>:;<O/(

_BA?GM$JA:G:C<JH3$TA?LM$G=8ECHA:AM$;M;=r;=@?$P?;<A?G<;@:$LMC<

J?>?JA:B<PM$J$G=8ECHA:A:P<$<JJC=9?B:;<O3$>G?B?9<P?@?$>?JC=$J?LMV

A<I$;:$"ELG?BD=\$DG<8<J;M=$J<AE:Q<<$>G<;Q<><:CH;?$?AC<T:fAJO$?A

J<AE:Q<<$d>?BJ=9;=B;?Ie(

���y\���}�w({w��Vv}��}x(xz�+-%'-1¡�+-'+*¡%�&)+ii66

?A$?JD?GL<A=CH;MR$BMG:K=;<I$<$?L?G?A?B3$?A$;=;?GP:A<B;?I3$<;B=DV

A<B;?I3$?LJQ=;;?I$C=DJ<D<($[?JA:B<A=C<$D;<@<$]$>G?N=JJ<?;:CH;M=$WDV

J>=GAMVC<;@B<JAM$]$>?P?@:fA$T<A:A=COP$CETr=$?G<=;A<G?B:AHJO$B$B?>V

G?J:R$J=P:;A<T=JD?I3$JA<C<JA<T=JD?I$<$<;?I$<;A=G>G=A:Q<<$?A9=CH;MR

>C:JA?B$GEJJD?I$C=DJ<D<($b$GELG<D=$d#?P>=A=;A;?=$P;=;<=e$>G=9JA:BV

C=;M$:DAE:CH;M=$JEK9=;<O$?$C<;@B<JA<T=JD<R$WDJ>=GA<8:R3$BMJD:8:;V

;M=$<8B=JA;MP<$>G:B?B=9:P<3$WDJ>=GA:P<3$GED?B?9<A=COP<$KEG;:C<JV

AJD<R$?G@:;<8:Q<I($b$%V=$<89:;<=$;:GO9E$J$;?BMP<$A=DJA:P<$C<;@B<JA<V

T=JD<R$WDJ>=GA<8$B=JHP:$:DAE:CH;MI$A=P:A<T=JD<I$G:89=C$da=A?9<T=JV

D<=$G=D?P=;9:Q<<e($789:;<=$:9G=J?B:;?$J?AGE9;<D:P$>=T:A;MR$<$WC=DV

AG?;;MR$[a73$JC=9?B:A=COP3$9?8;:B:A=COP3$JE9HOP3$>G?DEG?G:P3$:9V

B?D:A:P3$JAE9=;A:P$<$:J><G:;A:P$N:DECHA=A?B$>G:B?B=9=;<O3$N<C?C?V

@<O$<$KEG;:C<JA<D<3$>G:B?8:n<A;<D:P(

]$+0&4#&3@)&4=&'2*_J"h)LD()4'&5*41(03&'*32L%3EF*=0L;()`,$XAB(

G=9:DA?G$<$:BA?G$D?;Q=>Q<<$]$>G?N($U("(4?C=B(

+0&4#&3@)&4=&'2N>G$ >G?LC=PM$ <$ >=GJ>=DA<BM\$ P=KBE8($ JL($ ;:ET(

AG($�$?AB($G=9(\$U("($4?C=B($0:G;:EC\$789VB?$_CA($@?J($E;VA:3$-)))($-*-$J(

+0&4#&3@)&4=&'2NIG$SEJJD<I$O8MD$B$=@?$=JA=JAB=;;?P$<$fG<9<T=JV

D?P$LMA<<\$P=KBE8($JL($;:ET($AG($�$>?9$G=9($U("($4?C=B:($0:G;:EC\$789V

B?$_CA($@?J($E;VA:3$+222($+'%$J(

+0&4#&3@)&4=&'2NOG$cG?LC=PM$fG<JC<;@B<JA<TJD?I$WDJ>=GA<8M\

P=KBE8($JL($;:ET($AG($�$>?9$G=9($U("($4?C=B:($0:G;:EC\$789VB?$_CA($@?J(

E;VA:3$+22+($+1%$J(

+0&4#&3@)&4=&'2NPG$`G<JC<;@B<JA<T=JD<=$9<JQ<>C<;M$;:$fG<V

9<T=JD<R$<$N<C?C?@<T=JD<R$N:DECHA=A:R$G?JJ<IJD<R$BE8?B\$cG?@G:PV

PM3$ET=L;M=$>C:;M$�$>?9$G=9($U("($4?C=B:($0:G;:EC\$789VB?$_CA:IJV

D?@?$E;VA:3$+22%($-*'J(

+0&4#&3@)&4=&'2NZG$`G<9<T=JD<=$:J>=DAM$O8MD:$<$C<;@B<JA<T=JV

D<=$:J>=DAM$>G:B:\$P=KBE8($JL($;:ET($JA($�$?AB($G=9($U("($4?C=B($0:G;:V

EC\$789VB?$_CA($E;VA:3$+22&($%66$J(

+0&4#&3@)&4=&'2N\G$7;B=DA<B;?=$<$P:;<>ECOA<B;?=$NE;DQ<?;<V

G?B:;<=$O8MD:\$P=KBE8($JL($;:ET($JA($ �$?AB($G=9($U("($4?C=B($0:G;:EC\

789VB?$_CA($E;VA:3$+226($&-'$J(

+0&4#&3@)&4=&'2N^G$�8MD$D:D$N=;?P=;$>G:B?B?I$D?PPE;<D:Q<<\

P=KBE8?BJD<I$JL?G;<D$;:ET;MR$JA:A=I$�$?AB($G=9($U($"($4?C=B($0:G;:V

EC\$789VB?$_CA:IJD?@?$E;VA:3$+221($%&1$J(

+0&4#&3@)&4=&'2NSG$SEJJD<I$O8MD$<$J?BG=P=;;?=$G?JJ<IJD?=$>G:V

B?$�$?AB($G=9($U($"($4?C=B($0:G;:ECV#=P=G?B?\$789VB?$_CA:IJD?@?$E;V

A:3$+22'($6%6$J(

+0&4#&3@)&4=&'2N[G$7JA<;:$B$O8MD=$<$>G:B=$�$?AB($G=9($U($"($4?V

C=B($0:G;:ECV#=P=G?B?\$789VB?$_CA:IJD?@?$E;VA:3$+22*($&6%$J(

b>=T:ACOfn:O$>?$:DAE:CH;?JA<$>G?LC=P:A<D<3$>?JA?O;;?$G:JAEn=V

PE$EG?B;f$;:ET;?I$A=?G<<$<$>?$?T=B<9;?I$>G:DA<T=JD?I$Q=;;?JA<

hTT

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HGQ*:&@#3+

hTS

1$+/0

)*6

-#4

%/)#&

+,

aM$?D:8MB:=P$J?9=IJAB<=$ J<C?BMP$JAGEDAEG:P$S?JJ<<$<$[U4$B

G:JJC=9?B:;<<$G=:CH;MR$>G=JAE>C=;<I$<$JE9:P$BJ=R$EG?B;=I$B$BM;=J=V

;<<$?Ls=DA<B;MR$B=G9<DA?B$>?$@G:K9:;JD<P$<$E@?C?B;MP$9=C:P3$>?

:GL<AG:K;MP$J>?G:P(

U:r=$:DA<B;?=$ET:JA<=$B$>?JAG?=;<<$@G:K9:;JD?@?$?Ln=JAB:$<$B$8:V

n<A=$>G:B$T=C?B=D:$>?C;?JAHf$J??AB=AJABE=A$XJ;?B;?PE$p:D?;E$SF$]

#?;JA<AEQ<<$S?JJ<IJD?I$F=9=G:Q<<(

U:r<$WDJ>=GA;M=$8:DCfT=;<O$BJ=@9:$L=J>G<JAG:JA;M$<$>?9G?L;?

:G@EP=;A<G?B:;M($X;<$BM>?C;=;M$;:$?J;?B=$J:P?I$J?BG=P=;;?I$;:V

ET;?I$P=A?9<D<$<$B$>?C;?P$J??AB=AJAB<<$J$4c#$SF3$!c#$SF3$_c#

SF3$#X_c$SF$<$Fp$dX$@?JE9:GJAB=;;?I$JE9=L;?VWDJ>=GA;?I$9=OA=CHV

;?JA<$B$S?JJ<IJD?I$F=9=G:Q<<e(

/9?kc9x$?D:8MB:=A$9=IJAB=;;Ef$>?P?nH$B$>G?B=9=;<<$C<;@B<V

JA<T=JD?I3$N?;?JD?><T=JD?I$<$:BA?G?B=9T=JD?I$WDJ>=GA<8M$JC?B3$JC?V

B?J?T=A:;<I3$CfLMR$A=DJA?B3$ JC?B=J;MR$D?P>?;=;A?B$A?B:G;MR$8;:V

D?B3$<Po;3$N:P<C<I3$;:8B:;<I$<$>G($]$JE9:P3$<JAQ:P$<$?AB=AT<D:P$>?

@G:K9:;JD<P$<$E@?C?B;MP$ 9=C:P3$ET:JA;<D:P$:GL<AG:K;MR$J>?G?B3

J?AGE9;<D:P$G=9:DQ<I$[a73$J?AGE9;<D:P$>G:B??RG:;<A=CH;MR$?GV

@:;?B3$:9B?D:A:P(

/9?kc9x$ ET:JABE=A$B$N?GP<G?B:;<<$B$G=@<?;:R$S?JJ<<$DB:C<V

N<Q<G?B:;;?@?$D?G>EJ:$WDJ>=GA?BVC<;@B<JA?B3$9=IJABEfn<R$>G<$>?9V

9=GKD=$4YZ"7[$;:$?J;?B=$=9<;?I$;:ET;?I$L:8M$<$J?BG=P=;;?I$P=V

A?9<D<$<$:DA<B;?$B8:<P?9=IJABEfn<R$J$[E9=IJD<P$J??Ln=JAB?P(

/9?kc9x$J?9=IJABE=A$D?P>C=DA?B:;<f$L<LC<?A=D$JE9?B3$$:9P<V

;<JAG:A<B;MR3$ET=L;MR$<$;:ET;MR$ETG=K9=;<I3$G=9:DQ<I$[a7$JB?<V

P<$P=A?9<T=JD<P<$<$J>G:B?T;MP<$<89:;<OP<$>?$C<;@B<JA<T=JD<P$WDV

J>=GA<8:P(

/9?kc9x$G:8G:L:AMB:=A$?J;?BM$J>=QDEGJ?B$>?$C<;@B<JA<T=JD?I

L=8?>:J;?JA<$9CO$JAE9=;A?B$N:DECHA=A?B$<$?A9=C=;<I$N<C?C?@<<3$KEGV

;:C<JA<D<$<$fG<J>GE9=;Q<<(

/9?kc9x$J?9=IJABE=A$8:n<A=$DECHAEGM$G=T<$<$ECETr=;<f$D?GV

>?G:A<B;?I$G=>EA:Q<<$G?JJ<IJD<R$[a7(

/9?kc9x$?D:8MB:=A$>?99=GKDE$B?8G?K9=;<f$DECHAEGM$<$<JA?G<V

T=JD<R$AG:9<Q<I$S?JJ<<3$<89:=A$<;A=G;=AV:CHP:;:R$d[?L?G;:O$JA?G?V

;:e3$D;<@<$>?$<JA?G<<$;:Q<?;:CH;MR$AG:9<Q<I$<$GEJJD?I$JC?B=J;?JA<(

/9?kc9x$?JEn=JABCO=A$JB?f$9=OA=CH;?JAH$;=$;:$?J;?B=$Lf9K=AV

;MR$@?JE9:GJAB=;;MR$JELJ<9<I$<C<$8:GEL=K;MR$@G:;A?B3$:$;:$>G<;V

Q<>:R$>?C;?@?$R?8G:JT=A:($ZDJ>=GA;M=$<JJC=9?B:;<O$BM>?C;OfAJO$;:

9?@?B?G;?I$?J;?B=$>?$?N<Q<:CH;MP$8:>G?J:P$@?JE9:GJAB=;;MR$<$;=V

@?JE9:GJAB=;;MR$JAGEDAEG3$>?$?>G=9=C=;<OP$JE9?B$<$>?$>?JA:;?BC=V

;<OP$JC=9JAB=;;MR$?G@:;?B3$>?$8:>G?J:P$:9B?D:A?B3$G=9:DQ<I$[a73

r<G?D?@?$DGE@:$fG<9<T=JD<R$<$N<8<T=JD<R$C<Q(

(DNEU6ST".AGUJAX6 GA@VHANE>HbYBNZF?E>HZ>6J>BaCF@EDfA>@@\C6A6A@o>?CDfA>@@\CNZ>?DC6j/++6.&95)1k

ST"S" +N@>H@\F6fFGA6A6[DJDWA6JFXEFGU@>NEAVAGUJAA

!"#$%"&' #"(!)"*+,)-./*012+,)

0,'%,/341(+56",((74'"'"(8,2456",((74'*0,254

92,,'!#.%"*:[B<9=A=CHJAB?$?$G=@<JAG:Q<<$q-&-+'3$BM9:;?$4!$a<;<JA=GJAB:$fJA<Q<<

SF$>?$@($a?JDB=$-6(2+(+22-$@($S=@<JAG:Q<?;;MI$;?P=G$B$�9<;?P

@?JE9:GJAB=;;?P$G==JAG=$fG<9<T=JD<R$C<Q$]$-2%''%)+*'-*)(

7UU$]$''-'--*)2*($#cc$''-'2-22-(

T*#(#GU-'+&7-*(&$=+<1(4)"-!67-*("#..+;.)#-(%#.4'$".*0#(+(#'&#:

0"-8-&&#(7067-*.7(&-#*U-86-8#;(+( 0$C&-;K-;(,$.*9<(&$K-;(&$=+#:

&$69&#;()469*4"21(#*"$C$<3-;(+.*#"+<(&$"#'$(+(-%#('4/#0&2-(+.)$:

&+7V(W4..)+;(7D2)@(X-D(,-%#(&-0#D8#C&#(!#6&#)"#0&$7(C+D&9(#G3-.*0$V

X-D(*#,&#;1(G#%$*#;1(#G"$D&#;1(C+0#;(+(!"+(E*#8(<"+'+,-.)+()#""-)*:

&#;(+(E*+,-.)+(020-"-&&#;("#'&#;("4..)#;("-,+@

SEJJD<I$O8MD$=JAH$?J;?B;?I$<;JAGEP=;A$B$?JEn=JABC=;<<$@G:K9:V

;:P<$SF$<$<R$?Ls=9<;=;<OP<$>G:B:$JB?L?9;?$BMG:K:AH$P;=;<O$<$<9=<3

>=G=9:B:AH3$>G?<8B?9<AH$<$G:J>G?JAG:;OAH$<;N?GP:Q<f(

XJ;?B;:O$Q=CH$@<CH9<<$]$J?9=IJAB<=$T=G=8$WDJ>=GA;Ef$9=OA=CH;?JAH

>G?N=JJ<?;:CH;MR$ G?JJ<IJD<R$ C<;@B<JA?B$ J?RG:;=;<f$ <$ G:8B<A<f

GEJJD?@?$O8MD:$B$?A=T=JAB=;;MR$[a73$9=C?B?I$JN=G=$<$J?BG=P=;;?P

G?JJ<IJD?P$?Ln=JAB=3$ET:JA<=$B$?L=J>=T=;<<$<;N?GP:Q<?;;?I$L=8?V

>:J;?JA<$JAG:;M(

aM$WNN=DA<B;?$>?P?@:=P$8:n<A=$GEJJD?@?$O8MD:$D:D$T:JA<$DECHV

AEGM3$;:ED<3$>?C<A<D<3$?LG:8?B:;<O$<$<;N?GP:Q<?;;?I$JG=9M(

hTh

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HGQ*:&@#3+

hTI

1$+/0

)*6

-#4

%/)#&

+,

• #ECHAEG;?V>G?JB=A<A=CHJD:O$ >G?@G:PP:$ d[C?B:G<$ ��g$ B=D:e

,GED?B?9<A=CH$#([($"=G=BO;D?/

• [>G:B?T;?V<;N?GP:Q<?;;MI$<;A=G;=AV>?GA:C$4G:P?A:(SE$,@=V

;=G:CH;MI$9<G=DA?G$_(4($#?GP<C<QM;/

• #:N=9G:$JA<C<JA<D<$N:DECHA=A:$KEG;:C<JA<D<$a4!$<P($a(b($Y?V

P?;?J?B:$,8:B($D:N=9G?I$>G?N=JJ?G$4(�($[?C@:;<D/

• 7;JA<AEA$ JE9=L;MR$ WDJ>=GA<8$ a?JD?BJD?I$ @?JE9:GJAB=;;?I

fG<9<T=JD?I$:D:9=P<<$,9<G=DA?G$>G?N=JJ?G$�(S($S?JJ<;JD:O/

• _;A<A=GG?G<JA<T=JD<I$Q=;AG$@?JE9:GJABVET:JA;<D?B$[U4$,GEV

D?B?9<A=CH$@=;=G:CV>?CD?B;<D$_(c($U?B<D?B/

• 0fG?$J>=Q<:CH;MR$A=R;<T=JD<R$P=G?>G<OA<I$ab"$S?JJ<<$,;:V

T:CH;<D$@=;=G:CV>?CD?B;<D$0(U($a<G?r;<D?B/

• F=9=G:CH;:O$JCEKL:$>?$;:98?GE$B$JN=G=$JBO8<3$<;N?GP:Q<?;;MR

A=R;?C?@<I$<$P:JJ?BMR$D?PPE;<D:Q<I$,GED?B?9<A=CH$[(#($[<AV

;<D?B/

• [?f8$KEG;:C<JA?B$S?JJ<<$,>G=9J=9:A=CH$b($Y($0?@9:;?B/

• �=;AG$WDJAG=P:CH;?I$KEG;:C<JA<D<$,GED?B?9<A=CH$X(b($c:;N<V

C?B/

• F?;9$8:n<AM$@C:J;?JA<$,>G=8<9=;A$_(#($[<P?;?B/

• XLn=JAB?$CfL<A=C=I$G?JJ<IJD?I$JC?B=J;?JA<$,>G=8<9=;A$TC=;V

D?GG=J>?;9=;A$S_U$`(Y($b?G?A;<D?B/

• S:9<?JA:;Q<O$dZR?$a?JDBMe$,@C:B;MI$G=9:DA?G$_(_(b=;=9<DA?B/

• S=9:DQ<O$KEG;:C:$dSEJJD:O$G=THe$,@C:B;MI$G=9:DA?G$:D:9=P<D

S_X$>G?N=JJ?G$b(4($#?JA?P:G?B/

ZNN=DA<B;?$G:8B<B:=AJO$J?AGE9;<T=JAB?$4YZ"7[$J$?G@:;:P<$JEV

9=L;?I$BC:JA<$BJ=R$EG?B;=I$B$L?CHr<;JAB=$JELs=DA?B$<$G=@<?;?B$S?JV

J<IJD?I$F=9=G:Q<<(

ST"L" 1ZAN>B6Na=qFBE>H6/dm6H6B>E>?\]6?D=>EDiEWGF@\6VAGUJAA

_9M@=O3$_GR:;@=CHJD:O$?LC:JAH3$_JAG:R:;JD:O$?LC:JAH3$bC:9<P<GV

JD:O$?LC:JAH3$b?C@?@G:9JD:O$?LC:JAH3$b?G?;=KJD:O$?LC:JAH3$#:CEKJV

D:O$?LC:JAH3$U<K=@?G?9JD:O$?LC:JAH3$a?G9?B<O3$a?JDB:3$a?JD?BJV

D:O$?LC:JAH3$cG<P?GJD<I$DG:I3$[:P:GJD:O$?LC:JAH3$[:;DAVc=A=GLEG@3

[:G:A?BJD:O$?LC:JAH3$[B=G9C?BJD:O$?LC:JAH3$[A:BG?>?CHJD<I$DG:I3

u:PL?BJD:O$ ?LC:JAH3$ u:A:GJA:;3$ ufP=;JD:O$ ?LC:JAH3$ m:L:G?BJD<I

DG:I3$�G?JC:BJD:O$?LC:JAH(

ST"M" ,F=bNDcE6VAGUJAA6H6NFEA6)@EF?@FE

b$J=A<$7;A=G;=A$P;?@<=$@?9M$G:L?A:=A$>?9G?L;MI$J:IA$4<CH9<<

C<;@B<JA?BVWDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?V

G:P\$���,pw�mnompq,pw

ST"h" /aB>H>JNEH>6VAGUJAA6A6FF6fF@E?DGU@\cDZZD?DE

• cG=9J=9:A=CH$>G:BC=;<O$@<CH9<<$]$9?DA?G$N<C?C?@<T=JD<R$;:ED3

>G?N=JJ?G3$:D:9=P<D$S_�U3$B<Q=V>G=8<9=;A$XLn=JAB:$CfL<A=C=I

G?JJ<IJD?I$JC?B=J;?JA<$6&F2&#*7&'=(0()&%*/]M!-ij7RV9{,

• p:P=JA<A=CH$>G=9J=9:A=CO$>G:BC=;<O$@<CH9<<$]$9?DA?G$N<C?C?V

@<T=JD<R$;:ED3$>G?N=JJ?G3$8:B($D:N=9G?I$GEJJD?@?$O8MD:$<$P=V

A?9<D<$ =@?$ >G=>?9:B:;<O$ S?JJ<IJD?@?$ E;<B=GJ<A=A:$ 9GEKLM

;:G?9?B3$$:D:9=P<D$S_�U3$ETo;MI$J=DG=A:GH$S?JJ<IJD?I$:JJ?V

Q<:Q<<$>G=>?9:B:A=C=I$GEJJD?@?$O8MD:$<$C<A=G:AEGM$,S_cS�Y/

7&'=(0*6&F25#()&%*|-V?j9i(

<#"3E*C02)#"3&A*@&#$;&&G

• 9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G$D:N=9GM$C=DJ<D?@G:V

N<<$<$A=?G<<$>=G=B?9:$a?JD?BJD?@?$@?JE9:GJAB=;;?@?$E;<B=GV

J<A=A:$<P($a(b($Y?P?;?J?B:$+#&5*-102J()&%*!j?k<9V]7,

• 9?DA?G$N<C?C?@<T=JD<R$;:ED3$ $9?DA?G$fG<9<T=JD<R$;:ED3$:D:V

9=P<D$S_�U3$>G?N=JJ?G3$8:P($8:B=9Efn=@?$D:N=9G?I$JE9=L;MR

WDJ>=GA<8$a?JD?BJD?I$@?JE9:GJAB=;;?I$fG<9<T=JD?I$:D:9=P<<

<P($X(�($#EA:N<;:$j#"32*9@(0")32*/-?x|9i-,

• 9?DA?G$N<C?C?@<T=JD<R$;:ED3$>G?N=JJ?G$D:N=9GM$P:JJ?BMR$D?PV

PE;<D:Q<I$S?JJ<IJD?@?$E;<B=GJ<A=A:$9GEKLM$;:G?9?B$/2#&32

i&'(#2")32*dM]W96]7-,

• F<;:;J?BMI$9<G=DA?G$@<CH9<<$$]$i2=2#&A*+0$")32*6-VR9N

6]7-,

• [?B=A;<D$>G:BC=;<O$@<CH9<<$>?$B?>G?J:P$D?P>C=DJ;?I$L=8?V

>:J;?JA<$<$8:n<AM$$]$@=;=G:CVC=IA=;:;A$F[0$8:>:J:3$>?ToA;MI

J?AGE9;<D$#40$[[[S$7"3&2J&3*7#2;&J&0()&%*V-|9MRV9~,

• [?B=A;<D$>G:BC=;<O$@<CH9<<$>?$A=R;<T=JD?PE$?L=J>=T=;<f$<

<;N?GP:Q<?;;?I$ L=8?>:J;?JA<$ ]$ >?CD?B;<D$ ab"$ B$ ?AJA:BD=

7&'=(0*i&'(#2")&%*/-?x|9i,

• U:T:CH;<D$<;A=G;=AV?A9=C:$<$¹ºVA=R;?C?@<I$@<CH9<<$]$6&F2N

&#*7#2;&J&0()&%*VM-R9?ki9V]7,

• S=9:DA?G$D?;A=;A:$<;A=G;=AVJ:IA:$@<CH9<<$]$V20&32*MLD)"#$=()N

32*6-V-Mxi,

ST"I"6+N@>H@\F6ZD?E@F?\6VAGUJAA

aM$J$E9?BC=AB?G=;<=P$D?;JA:A<GE=P3$TA?$D:D$B$;:ET;?VP=A?9<T=JV

D?I3$A:D$<$B$>G<DC:9;?I$JN=G=$J?AGE9;<T=JAB?$4YZ"7[$J$r<G?D<P

DGE@?P$>:GA;=GJD<R$?G@:;<8:Q<I$G:8B<B:=AJO$<$E@CELCO=AJO$T=G=8$<R

GED?B?9<A=C=I$<C<$?AB=AJAB=;;MR$J?AGE9;<D?B($[G=9<$A:D<R$>:GA;=GV

JD<R$?G@:;<8:Q<I$P?@EA$LMAH$B$>=GBEf$?T=G=9H$;:8B:;M$JC=9Efn<=\

• 4?JE9:GJAB=;;MI$<;JA<AEA$GEJJD?@?$O8MD:$<P($_([($cErD<;:

,G=DA?G$>G?N=JJ?G$`(�($cG?R?G?B/

hTL

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-)

hTM

1$+/0

)*6

-#4

%/)#&

+,

]43()3E"*02D;"#E*425=2G

d7JA?G<O$@<CH9<<e3$dcELC<D:Q<<$?$@<CH9<<e3$dcG<P=GM$WDJ>=GV

A<8e3$dU:ET;MI$KEG;:Ce3$dU:r<$>:GA;=GMe3$dbJAE>C=;<=$B$@<CH9<fe3

d#;<K;:O$>?CD:e$,>?C;M=$WC=DAG?;;M=$B=GJ<<$9=JOA<$D;<@/3$dc?C=8V

;M=$JJMCD<e3$dF?A?:GR<B$@<CH9<<e3$d[=P<;:GMe3$dc:POAD:$8:D:8T<V

DEe3$dU:r<$G=DB<8<AMe(

ST"O"6/FBHA[AE\

:(#3("*32D)23&" SXX$d4<CH9<O$C<;@B<JA?BVWDJ>=GA?B

(0@23&D2K&& >?$9?DEP=;A:Q<?;;MP$<$<;N?GP:Q<?;;MP$J>?G:Pe

R('02H"33("*32D)23&" SXX$4YZ"7[

ML'()(;&="#$ 4?GL:;=BJD<I

(0@23&D2K&& a<R:<C$b<DA?G?B<T

c(#h3(4=$. cG=9J=9:A=CH$>G:BC=;<O$4<CH9<<$C<;@B<JA?BV

4="C"3$.* D)23&" WDJ>=GA?B$>?$9?DEP=;A:Q<?;;MP$<

<;N?GP:Q<?;;MP$J>?G:P3$9?DA?G$N<C?C?@<T=JD<R

;:ED3$>G?N=JJ?G3$:D:9=P<D$S_�U

+0&;&%"4'&5* 2;0"4 -+)-1&$a?JDB:3$EC(#<L:CHT<T:3$9(--3$D?G>(-3$DB(*'

:(%=()E5*2;0"4 -+)-1&$a?JDB:3$:�O$--23$SXX$4YZ"7[

d"#"b(3 �'l)2%l'1)$'-')^

Q#"'=0(332A*C(%=2 $ }V}�y}x�� ��|}�(xz

7"1N425=*/?Qc9R ���(xz{}�y}x�(xz

9ii*(0@23&D2K&& ''-'--*)2*

!23'()4'&" G�J$ &2'2%*-2+%*26222--'%

0"')&D&=EG B$a:GH<;?G?n<;JD?P$?A9=C=;<<$q$')*-�2-%6+

[L=GL:;D:$S?JJ<<$X_X$D�J$%2-2-*-2&22222222++6

07#$2&&6+6++6$$X#_uX$&6+)%66&222

#cc$''-'2-22-

]b&K&2#$32A [B<9=A=CHJAB?$?$G=@<JAG:Q<<$q-&-+'$?A$-6$N=BG:CO

0"@&4=02K&O +22-$@(3$BM9:;?$4C:B;MP$E>G:BC=;<=P$a<;<JA=GJAB:

(0@23&D2K&& fJA<Q<< S?JJ<IJD?I$F=9=G:Q<<$>?$@($a?JDB=(

S=@<JAG:Q<?;;MI$;?P=G$B$�9<;?P$@?JE9:GJAB=;;?P

G==JAG=$fG<9<T=JD<R$C<Q$]$q-2%''%)+*'-*)(

ST"P" *>@EDBE\

d"#"b(3G$�'l)2%l'1)$'-$')(

jN�t��G$ }V}�y}x�� ��|}�(xz

���G$-6*V216V-%+

7"1N425=*)*4"=&*93="03"=G$���(xz{}�y}x�(xz

-;0"4*;#A*C(%=()(5*C"0"C&4'&G

-+)-1&3$a?JDB:3$:�O$--23$SXX$4YZ"7["

(DNEU6SS"4F??AE>?ADGU@\F6>?VD@\66/>NB>C@DJ[>?D^B>@EDBE@\F6EFGFo>@\6A6DJ?FND6YGFBE?>@@>cZ>WE\

y"3=02#$3E5*b";"02#$3E5*('0L@

0=C@?G?9JD:O$?LC:JAH ,&'++/$ %-V6%V'' x{wv%-�x{wv(xz

0GO;JD:O$?LC:JAH ,&*%+/$ '+V++V2& x{wv£��v%+�x{w£(xz

bC:9<P<GJD:O$?LC:JAH ,&)++/$ +%V2%V6% x{wv%%�x{wv(xz

b?G?;=KJD:O$?LC:JAH ,&'%+/$ %1V&%V&% x{wv%1�x{wv(xz

7B:;?BJD:O$?LC:JAH ,&)%+/$ &-V22V66 �{��%&6222(xz

#:CEKJD:O$?LC:JAH ,&*&+/$ 6)V22V6) x{wv£��v&2�x{wv(xz

#?JAG?PJD:O$?LC:JAH ,&)&+/$ %%V16V1- z�{��£w{�xw��(xz

#EGJD:O$?LC:JAH ,&'-+/$61V+1V%% x{wv&1�x{wv(xz

Y<>=QD:O$?LC:JAH ,&'&+/$ %&V-&V6* x{wv&*�x{wv(xz

XGC?BJD:O$?LC:JAH ,&*1+/$ &%V2&V+& x{�6'�wx}~(xz

SO8:;JD:O$?LC:JAH ,&)-+/$ '1V%6V%2 x{wv£��v1+�x{wv(xz

[P?C=;JD:O$?LC:JAH ,&*-+/$ %6V62V+2 x{wv£��v1'�x{wv(xz

u:PL?BJD:O$?LC:JAH ,&'6+/$ 61V21V6' x{wv£��v1*�x{wv(xz

uB=GJD:O$?LC:JAH ,&*++/$ %6V*-V%- �{�1)���vw�(xz

uECHJD:O$?LC:JAH ,&*'+/$ %%V-%V*6 x{wv£��v'-�x{wv(xz

�G?JC:BJD:O$?LC:JAH ,&*6+/$ %2V&)V+2 x{wv£��v'1�x{wv(xz

a?JDB:$<$a?JD?BJD:O$?LC:JAH ,&)6/$ )6'V2*V&1 x{wv£��v''�x{wv(xz

,&)6/$ )6'V2*V&*

R")"0(NX2C2;3E5*b";"02#$3E5*('0L@

_GR:;@=CHJD:O$?LC:JAH$]

U=;=QD<I$:BA?;?P;MI$?DGE@ ,*-*+/$ +*V1+V%- �x��{�����}�(xz

b?C?@?9JD:O$?LC:JAH ,*-'+/$ 6&V*)V+2 x{wv£��v%6�x{wv(xz

S=J>ELC<D:$#:G=C<O ,*-&+/$'-V'2V'& x{wv£��v-2�x{wv(xz

#:C<;<;@G:9JD:O$?LC:JAH ,&2-+/$ &6V-6V62 £�~�����x�|z�{����~��}�(xz

S=J>ELC<D:$#?P< ,*+-+/$ +-V1*V22 x{wv£��v--�x{wv(xz

aEGP:;JD:O$?LC:JAH ,*-6+/$ &6V6&V%2 �{��yw~�x�}�(xz

hTO

-%4+5)(%1*)%6/%*+-%05#7))68+6,+8/+1#-&)0.,)14)(%1*+269*18%/4):;618+/0;<64%*14+,61-) NEBOP*HHQ*9JIILOAILEMPXUJ*AIZEXU*$ABCAWXEK[AIE

hTP

1$+/0

)*6

-#4

%/)#&

+,

U?B@?G?9JD:O$?LC:JAH ,*-1+/$ 1'V-1V'2 x{wv£��v6%�x{wv(xz

cJD?BJD:O$?LC:JAH ,*--+/$ 11V2&V)1 x{wv12�x{wv(xz

[:;DAVc=A=GLEG@$< ,*-+/$ %-+V'%V%2 x{wv£��v'*�x{wv(xz

Y=;<;@G:9JD:O$?LC:JAH ,*-+/$ %-+V)-V'2

+h3E5*b";"02#$3E5*('0L@

S=J>ELC<D:$_9M@=O ,*''+/$ 6+V1)V11 x{wv£��v2-�x{wv(xz

S=J>ELC<D:$":@=JA:; ,*'++/$ 1*V+1V22 x{wv£��v26�x{wv(xz

S=J>ELC<D:$7;@Er=A<O ,*'%+/$ ++V+1V62 x{wv£��v21�x{wv(xz

#:L:G9<;?V0:CD:GJD:O

S=J>ELC<D: ,*11+/$ &+V&2V*2 £¤�¤�61����~(xz

S=J>ELC<D:$#:CPMD<O ,*&'+/$ +&V-&V6* z�{��}~�{��(xz

#:G:T:=B?Vt=GD=JJD:O

S=J>ELC<D: ,*'*++/$ 6V&-V&2 x{wv£��v2)�x{wv(xz

S=J>ELC<D:$[=B=G;:O

XJ=A<OV_C:;<O ,*1'+/$ 6&V%+V%+ x{wv£��v-6�x{wv(xz

#G:J;?9:GJD<I$DG:I ,*1-+/$ %)V%-V%1 x{wv+%�x{wv(xz

[A:BG?>?CHJD<I$DG:I ,*16+/$ '%V-6V%6 �{��{��(xz��}�(xz

_JAG:R:;JD:O$?LC:JAH ,*6-+/$ &)V1'V*+ x{wv£��v%2�x{wv(xz

b?C@?@G:9JD:O$?LC:JAH ,*&&+/$ %%V&%V%& x{wv£��v%&�x{wv(xz

S?JA?BJD:O$?LC:JAH ,*1%/$ +-*V16V'% x{wv£��v1-�x{wv(xz

t=T=;JD:O$G=J>ELC<D: ,*'-+/$++V62V-- x{wv£��v+2�x{wv(xz

R&1&04'&5*b";"02#$3E5*('0L@

S=J>ELC<D:$0EGOA<O ,%2-+/$ &&V1)V)) x{wv2%�x{wv(xz

S=J>ELC<D:$_CA:I ,%**++/$ +V%-V*- �{{|v2&����~(�wx� (xz

S=J>ELC<D:$uMB: ,%)&++/$ +V2)V)- x{wv-'�x{wv(xz

S=J>ELC<D:$m:D:J<O ,%)2+/$ +6V''V%' x{wv-)�x{wv(xz

_CA:IJD<I$DG:I ,%*6+/$ 1%V2&V-2 ++¤w���v}�z�{�{++(��(xz

#G:J;?OGJD<I$DG:I ,%)-/$ +&&V-)V2) x{wv£��v+&�x{wv(xz

7GDEAJD:O$?LC:JAH ,%)6+/$ +6V62V)% x{wv£��v%*�x{wv(xz

#=P=G?BJD:O$?LC:JAH ,%*&+/$ %1V)2V2% x{wv£��v&+�x{wv(xz

U?B?J<L<GJD:O$?LC:JAH ,%*%/$ +2%V6%V12 x{wv£��v6&�x{wv(xz

XPJD:O$?LC:JAH ,%*-+/$ %'V-+V2* vw���|¬wx����~(xz

u?PJD:O$?LC:JAH ,%*++/$ %-V2-V-- z�{��z�{�(�w�{£(xz

p:L:ID:CHJD<I$DG:I ,%2++/$ +1V-)V*% x{wv£��v'6�x{wv(xz

U02#$4'&5*b";"02#$3E5*('0L@

#EG@:;JD:O$?LC:JAH ,%6++/$ &-V'1V+1 x{wv£��v&6�x{wv(xz

[B=G9C?BJD:O$?LC:JAH ,%&%/$ %6)V2-V-' x{wv£��v11�x{wv(xz

ufP=;JD:O$?LC:JAH ,%&6+/$ &1V-'V1- x{wv£��v'+�x{wv(xz

t=COL<;JD:O$?LC:JAH ,%6-/$ +1%V)-V2) x{wv£��v'&�x{wv(xz

m:;AMVa:;J<IJD<I ,%&1'/$ %%V+-V'2 z�{����{���~

:BA?;?P;MI$?DGE@$]$`4S_$<

�P:C?VU=;=QD<I$:BA?;?P;MI

?DGE@

:0&)(#h4'&5*b";"02#$3E5*('0L@

S=J>ELC<D:$0:rD?GA?JA:; ,%&'/$ +')V--V22 x{wv£��v2+�x{wv(xz

S=J>ELC<D:$a:G<I$ZC ,*%1+/$ 1%V2&V+% z�{�-+���x�V}~(xz

S=J>ELC<D:$a?G9?B<O ,*%&+/$ &'V66V&* z�{�-%��wx�{(xz

S=J>ELC<D:$u:A:GJA:; ,*&%/$ ++*V6)V26 x{wv£��v-1�x{wv(xz

!9PEGAJD:O$S=J>ELC<D: ,%&-+/$ 6*V11V&& x{wv£��v-*�x{wv(xz

tEB:rJD:O$S=J>ELC<D: ,*%6+/$ 11V'%V+6 x{wv£��v+-�x{wv(xz

#<G?BJD:O$?LC:JAH ,*%%+/$ 1%V%)V22 x{wv&%�x{wv(xz

U<K=@?G?9JD:O$?LC:JAH ,*%-/$ &%2V%%V-' x{wv£��v6+�x{wv(xz

XG=;LEG@JD:O$?LC:JAH ,%6%+/$ 61V22V'+ x{wv£��v61�x{wv(xz

c=;8=;JD:O$?LC:JAH ,*&-+/$ 66V1)V1- x{wv6*�x{wv(xz

c=GPJD<I$DG:I ,%&+/$ +%1V-1V%% w���v}�z»�{�(y}x�w�~��}(xz

[:P:GJD:O$?LC:JAH ,*&1/$ %%+V6%V+1 x{wv£��v1%�x{wv(xz

[:G:A?BJD:O$?LC:JAH ,*&6+/$ 1&V)-V6' x{wv£��v1&�x{wv(xz

!CHO;?BJD:O$?LC:JAH ,*&+/$+&&V16V66 x{wv£��v'%�x{wv(xz

c2#$3")(4=(%3E5*b";"02#$3E5*('0L@

S=J>ELC<D:$[:R:$,�DEA<O/ ,&--+/$ %&V-&V+* x{wv£��v-&�x{wv(xz

cG<P?GJD<I$DG:I ,&+%+/$ %'V&%V6% z�{�{{�y£(xz

m:L:G?BJD<I$DG:I ,&+-+/$ &-V'+V'2 x{wv£��v+'�x{wv(xz

_PEGJD:O$?LC:JAH ,&-1+/$ %'V-)V2) �{{|v+*��{~(xz

#:PT:AJD<I$DG:I ,&-6+/$ &-V2*V%' x{wv&-�x{wv(xz

a:@:9:;JD:O$?LC:JAH$]

tED?AJD<I$:BA?;?P;MI$?DGE@ ,&-%+/$ 1+V6&V%1 ������{�(����|��(xz

[:R:C<;JD:O$?LC:JAH ,&+&+/$'&V&1V&& x{wv£��v16�x{wv(xz

�BG=IJD:O$:BA?;?P;:O$?LC:JAH ,&+1++/$ &V2*V-* x{�')����~(��£|�(xz

W";"02#$32A*4#Lh12*C(*32;D(0L*)*4b"0"*4)AD&*&

J244()EF*'(JJL3&'2K&5* _M(4'(J32;D(0`

-;0"4G

-2)2'&3$@(a?JDB:3$#<A:I@?G?9JD<I$>G(3$9('3$JAG(+(

RC02)(%3(N&3b(0J2K&(33E5* K"3=0G

,&)6/$)*'V1*V22$,A=C/

,&)6/$)*'V1*V2-$ ,N:DJ/

>;VTA$)\22]-*\223$>A$)(22V-1\&6

:0"44N4#Lh12G$ ,&)6/$)*'V1'V1%3$*$,)+1/$'')V&2V+)(

]1H&5*2;0"4*B#"'=0(33(5*C(%=EG$$x{wv¤���x{wv(xz

7"1N425=G* ���y\�����(x{wv(xz

i2L%3(NJ"=(;&%"�'("*&D;23&"

!"#$%&'()*+#&5*-102J()&%

/(0123")4'&5*6&F2&#*7&'=(0()&%

820'()*9@(0$*7"3&2J&3()&%

6jd]c9<jRV9j*MjV]6jic-y99

:]*7]:M]R-6*?9i/79Rd9<jRV]{*QVR:jMd9Xz

R:]Miz~*djVRd]7*R69

R1(03&'*J2="0&2#()

#?P>HfA=G;:O$BoGJAD:$]$+"M"3R8>F>?/

#?GG=DAEG:$]$$&")"3'/@/8H7

c?9@?A?BD:$D$>=T:A<$]$XXX$d7c#$§7;N?GPD;<@:§e

c?9><J:;?$B$>=T:AH$-&(-+(+22)($F?GP:A$12R)2$-�-1

($0EP:@:$?NJ=A;:O($$c=T:AH$?NJ=A;:O(

!JC(>=T($C($-%($!JC(V<89($C($-23%&6($u<G:K$-222$WD8($p:D:8$$q$&*)(