el animal que me mira desde el arte

Anuncio
!"#$%&'$"#()!#'!#'&*$#+!,+!#!"#$*-!
$*-!.#/&!%/&$#0#%$-)*$"!1$#2#'!%-!#0#'!%-&*$,
!"#$%&%"'()**)$+',-.-/,%$)&#0$"1'2"30'/45"$
65%7)$*%8"8'90:;<=#)5*)'8)'>"8$%8
("&=<#"8'8)'?)<<"*'/$#)*
,);"$#":)5#0'8)'!%5#=$"
>"8$%8+'@=5%0'ABBC
)<'"5%:"<'D=)':)':%$"'8)*8)')<'"$#) '2#3%+&/!
4 56789:;<<5=6>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>?
! 9=)*#%05)*'8)'E%0<0FG"---------------------------------------------------------------------------------------------H
! .<'I0:0'*";%)5*'*";%)5*')*'*=;)$%0$'"'#080*-----------------------------------------------------------J
! K"':%$"8"'8)<'0#$0-----------------------------------------------------------------------------------------------------C
! 900;)$"&%L5')5#$)'8%M)$)5#)*---------------------------------------------------------------------------------NA
! ?%0"$#)--------------------------------------------------------------------------------------------------------------------NO
! K0*'"5%:"<)*'#":;0&0'*05'3"'!"#$%"&'(-----------------------------------------------------------------NH
! /$#)'3'5"#=$"<)4"----------------------------------------------------------------------------------------------------NP
! Q0:E$)'3'5"#=$"<)4"----------------------------------------------------------------------------------------------AN
@ A59B9CDE#2#"F,#$%&'$"!,#%F#,!#+&G!*!%/&$%>#:!#"F#()!#/F'H$*-&'F,>>>>>>>>>>>>>>>>>>>>>@I
! K"*')8"8)*'8)<'I0:E$)------------------------------------------------------------------------------------------AO
! ?%<<'R%0<"-')*+(,+-$,+'(+"-$'&&*+"+&*+-$'+.'+/"%'01*---------------------------------------------AH
! ?%0<0FG"'B-'Q%*#0$%"'8)'S'E"&#)$%"*'T'8)'&L:0'):;)4L'#080-----------------------------------SB
! ?%0<0FG"'N-'K"'M%<"'8)'F)5)*'Q0U'T'0'8)'<0'D=)'50*'=5)'"'#080*-----------------------------SN
VI0:"*'W$X5M)<8-'2!1"3'(+4"&&56*(-------------------------------------------------------------------------SA
! ?%0<0FG"'A'T'8)'<"':"5)$"')5'D=)'50*'$)<"&%05":0*'&05'<0*'"5%:"<)*';"$"'
"7)$%F="$'<"':"5)$"')5'D=)')*#":0*'$)<"&%05"80*'&05')<<0*---------------------------------SO
! ?$=&)'Y"=:"5-'7'('(/'%"158!+"/%'!656"+'!+%"#"(-----------------------------------------------SO
! .<';"$#%80'8)'<0*'"5%:"<)*-'9"+4".5&5"+6'&+4$#$%*------------------------------------------------------SP
@0*);I'?)=3*-':*;*#'--------------------------------------------------------------------------------------------SP
Z<)F'[=<%\-'<**4%'!5"----------------------------------------------------------------------------------------------OA
J <;B7;8E#0#<5K6<5E#L#!"#")M$*#+!#H*F/!+!%/&$#!,#"F#F*MN%&/F>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>IO
! .<'L$F"50'8)<'<)5F="])'3'<"'F$":^#%&"'=5%7)$*"<------------------------------------------------------OJ
>-'@0*_'?=$\%----------------------------------------------------------------------------------------------------------`A
9*(+/'%%*(------------------------------------------------------------------------------------------------------------`A
=%"6$115*!'(-------------------------------------------------------------------------------------------------------`S
! a5#)<%F)5&%"'"$#%M%&%"<------------------------------------------------------------------------------------------------``
! 9%)5&%"*'&0F5%#%7"*-------------------------------------------------------------------------------------------------`J
! R%7%$'5)=$05"<:)5#)------------------------------------------------------------------------------------------------`P
I KB#E65PEB#2#Q!'F,#R!%/&+F#$"#'N,#G)!*-!>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>?J
! !"#$%&%"'()**)$-'>?3"%*(+#"#$"6*(---------------------------------------------------------------------------HS
! .<'"5%:"<'D=)':%$0')5')<'"$#)----------------------------------------------------------------------------------HH
b%:',)<703)-'/5%:"<)*'"5#$0;0:L$M%&0*----------------------------------------------------------------HJ
c05'>=)&\-------------------------------------------------------------------------------------------------------------HC
@"6%'+'+A53*---------------------------------------------------------------------------------------------------------HC
B*.C%'+'!+$!+C*#'----------------------------------------------------------------------------------------------JA
,":%)5'Q%$*#-')"15.5'!#*---------------------------------------------------------------------------------------JS
S BE#PE6E:E>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>OS
! .<'"50:"<---------------------------------------------------------------------------------------------------------------J`
! a:^F)5)*'8)':"5"8"'3'8)'"50:"<-------------------------------------------------------------------------JP
/E%F"%<'K"5)-'D56"(+-$5'#"(+E+)"#$%"&'0"(+.$'%#"(------------------------------------------------JP
?$=&)'Y"=:"5-':"%%$('&'(------------------------------------------------------------------------------------PB
>%&I")<'@00-'F'!#56*+G'.*#*+E+B,&51'+H&4"------------------------------------------------------------PS
,":%)5'Q%$*#-'9'3*(+6'+&"+@"!"6"--------------------------------------------------------------------------P`
! K"'F$"5'*G5#)*%*------------------------------------------------------------------------------------------------------PJ
>"$\',%05-'.<'&%$&0'8)'<"*'&%)5&%"*-------------------------------------------------------------------------PP
! dKVa>/'>6@.c'e'dKVa>Zf'QZ>?c.f----------------------------------------------------------------CB
! .<'ZVcZ')*'>/KZ-------------------------------------------------------------------------------------------------CN
@"5)'/<)U"58)$-'HI'!#$%"+H4%51"!"-------------------------------------------------------------------------CA
? <96<B;T596KT>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>UI
! 9%)5&%"'3':%*#)$%0g'<"'*0&%)8"8'8)'<"'%5M0$:"&%L5---------------------------------------------------C`
! /=#0$)*'&05'<0*'D=)'&05#%5="$--------------------------------------------------------------------------------CJ
,%"5"'VI"#)$-----------------------------------------------------------------------------------------------------------CJ
,0=F<"*'W0$805-----------------------------------------------------------------------------------------------------CP
Q)5$3'?)$F*05--------------------------------------------------------------------------------------------------------CC
!)#)$'f<0#)$8%]\-----------------------------------------------------------------------------------------------------NBB
! .<'"$#)+'5L:"8"----------------------------------------------------------------------------------------------------NBN
/$#)'3':)8%&%5"-----------------------------------------------------------------------------------------------------NBN
/$#)'3'M"$:"&0<0FG"-----------------------------------------------------------------------------------------------NBA
/$#)'3';08)$----------------------------------------------------------------------------------------------------------NBS
/$#)'3'*0&%)8"8-----------------------------------------------------------------------------------------------------NBS
O A5AB59C8EVDE>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>4WS
9"+4$!6"158!+6'+$!+#'%%5#*%5*+'(+1"(5+'&+!"15.5'!#*+6'&+"%#'J+&"+."%1"158!+
6'&+#'%%5#*%5*K+-$'+!*+1*!(5(#'+#"!+(8&*+'!+&"+&5./5'0"+;+1*&*1"158!+6'+
."%1"(+$%5!"%5"(K+(5!*+#".C5,!+'!+$!"+('%5'+6'+L'(#*(+M'&+('!#"%('+;+
&'I"!#"%('+6'+$!+"!5."&MK+$!"+('%5'+6'+1*&*%'(+-$'+1*&*1"+$!+"!5."&K+$!"+
1"!158!N+2(#*+(*!+&"(+#%'(+1"%"1#'%O(#51"(+6'&+"%#'J+1*&*%'(K+&O!'"(K+1"!158!K+
"%#'+'!+($+4*%."+.?(+/$%"NN
P=%"6$1158!+6'+&"+"$#*%"Q
N
,.K.6h.+'W%<<)*'&05'!/cY.V+'9<"%$)-'H+R5'+5!+H!5."&+')5'2&+HS:NN'+'&%#"80')5'(/Qa>'/>ac+'H$1A+6"(+
!*1ANNNK+>*(#.*6'%!'+=5'%'K+='%%*%+$!6+=A'*%5'+')5'T!#'%('1#5*!(+'R%)5"+'Ki&\)$'ABBC+';-NPHI##;1jjkkk-<"5F<"E-k"35)-)8=j9f#%7"<)j,eWj,/f/?9e/eK-I#:<l"5&I0$NBABCm,%)'W$X58=5F')%5)*'V)$$%#0$%=:*'%*#'E)%5"I)'8%)'W)E=$#'8)$'[=5*#1',=$&I'8"*'>"$\%)$)5')%5)*'V)$$%#0$%=:*+'
k"*'5%&I#'5=$')%5)'f"&I)'8)$'fn=E)$=5F'=58'8)*'f)#4)5*'705'=$%5"<)5'>"$\)5'%*#+'*058)$5')E)5'"=&I'8%)'
)%5)$'c)%I)'&05'W)*#)5'ef#)I)5'=58'f%#4)5')%5)*'V%)$)*e+')%5)$'c)%I)'705'("$E)5+'8%)')%5'V%)$'"5<)F#+')%5)*'
K%)8*-',"*'*%58'8%)'8$)%'W$=584XF)'8)$'[=5*#1'("$E)5+'K%5%)5+'K%)8+'*"F#',)<)=4)-'("$E)5+'K%5%)5+'K%)8+'
[=5*#'%5'%I$)$'$)%5*#)5'(0$:-m
#56789:;<<5=6#X#?
56789:;<<5=6
F5+&"(+"I'(+(*!+A$."!*(+.'#"48%51*(+;+&*(+/'%%*(K+A$."!*(+.'#*!O.51*(K+
'&+L"!"6*+'(+$!+5!A$."!*+.'#*!O.51*K+;+&*(+1"C"&&*(+6'+1"%%'%"+(*!+
5!A$."!*(+.'#"48%51*(J+'&+L"!"6*+!*+'(+1*!#5L$*+.?(+-$'+/*%+4"&#"+6'+
('.'3"!0"K+&*(+1"C"&&*(+6'+1"%%'%"+(*!+('.'3"!#'(+(8&*+/*%+4"&#"+6'+
1*!#5LU56"6N+:"6"+$!"+6'+'(#"(+6*(+1"#'L*%O"(+*4%'1'!+&"+5."L'!+V'!+
A$'1*W+6'+$!"+6'+&"(+*#%"(+6*(+1"#'L*%O"(K+-$'+L$"%6"!+"+($+I'0+'!#%'+(O+
$!"+%'&"158!+6'+(5.'#%O"+5!I'%#56"AN
>)'F=*#"$G"')*&$%E%$'*0E$)'=5'#):"'#"5'":;<%0'3'&0:;<%&"80'&0:0')*'<"'7%8"'3'5=)*#$0*'
*)5#%:%)5#0*'3'&050&%:%)5#0*'$)*;)&#0'8)')<<"+'8)*8)'=5"'8%*&%;<%5"'8)';)5*":%)5#0'&0:0'
)*'<"'8)<'"$#)f=;05F0'D=)')<'"$#)'*%):;$)'*)'I"'*%#="80')5'"<Fo5';=5#0'D=)'*)')*#"E<)&)'"';"$#%$'8)<'
&$=&)')5#$)'<0*';08)$)*')5)$F_#%&0*'8)'&"8"'_;0&"-'.*)'<=F"$'D=)'I"E%#"'<)'8"'"'<"'7)4'
;)$*;)&#%7"'3'M"<#"'8)';)$*;)&#%7"'*0E$)'<0*'"*=5#0*'D=)'&"8"'^$)"'8)'8)*"$$0<<0'7=)<&"'"'<"'
&0$$%)5#)'8)<'0$F"5%*:0'*0&%"<g'<)'8"';)$*;)&#%7"';0$D=)')*#"580')5#$)'#08"*')<<"*+';=)8)'
;)$:%#%$'D=)'*)'&$=&)5';"$"'F)5)$"$')<'&0$;=*'D=)'<)')*';$0;%0+'3'M"<#"'8)')<<"'3"'D=)'"<'
)U;05)$*)'"'#"5'8%7)$*"*'&0$$%)5#)*+'"<'*%#="$*)''!#%'')<<"*+'50'I"E%#"'5%5F=5"-'f%F=%)580')<'
&05&);#0'8)'b-'?)5]":%5'8)'&L:0'<"'#_&5%&"'50')*')<'80:%5%0'8)'<"'5"#=$"<)4"+'*%50')<'
80:%5%0'8)'<"'$)<"&%L5')5#$)')<'I0:E$)'3'<"'5"#=$"<)4"1')<'80:%5%0'8)'&"+%'&"158!+''&+'!#%'X+
.*#)'<=F"$'8)<'"$#)'*)$G"'E"]0')*#)';$%*:"')<'<=F"$'8)'$)<"&%L5')5#$)'<"*'8%M)$)5#)*'
8%*&%;<%5"*-Y
<)!,-&F%!,#+!#Y&F"FM3$
.*'8)*8)')*)'<=F"$'8)*8)')<'D=)'8)*)0'I"E<"$-'f%5'):E"$F0+')<':"#)$%"<'D=)'I)'5)&)*%#"80'
$)&0;%<"$'I"E<"'8)'=5"'%5#)5&%L5'D=)'*)F=$":)5#)'50')*#03'&";"&%#"8"';"$"'<<)7"$'"'&"E0-'
K"'&0$$%)5#)')5)$F_#%&"'D=)')*#"E<)&)'I03'<"'E%0<0FG"+'E%0F)5_#%&"'3'<"*'8%*&%;<%5"*'
:0<)&=<"$)*+':)'"#$"7%)*"5'8)]"580'=5'$"*#$0'M"*&%5"80g')*'=5'"8)5#$0'3'=5'"M=)$"g')5#$0'3'
A
S
,.K.6h.'3'W6/VV/ca+'@5&+.'('#"(K+1"/5#"&5(.*+;+'(-$50*4%'!5"+'.*;"p"+'!$)e#)U#0*'ABBH+';-SBA'
/W/>?.Y+'W%0$F%0-'9*+"C5'%#*K+'&+A*.C%'+;+'&+"!5."&+'.*;"p"+'!$)eV)U#0*+'ABBO
;-NB`-',)'&L:0'<"'#_&5%&"')*')<'80:%5%0+'YZ',.'K/'Y/V6c/K.h/+'*%50')<'80:%5%0'8)'<"'c.K/9aqY')5#$)'
)<'I0:E$)'3'<"'5"#=$"<)4"-'.K'.YVc.-'H&L*+/"%"+&*+-$'+-$50?(+!*+65(/*!'.*(+#*6"IO"+6'+!*.C%'(+;+-$'+;"+
!*+'(+!5+"!5."&+!5+A*.C%'K+('+5!(#"&"+'!#%'+!"#$%"&'0"+;+A$."!56"6K+;+('+."!#5'!'+'!+&"+%'&"158!+6*.5!"6"K+
'!+&"+!*1A'+("&I"6"'e.%5E"I5*#$"**)-'b-'?)5]":%5'NCAJ
O#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
7)0'<"*'&_<=<"*+'*"<F0'3'7)0'<"'&=<#=$"g'E=*&0')<'<=F"$'8058)'*)'&$=4"5'8)5#$0'8)'5=)*#$0'
)5#)58%:%)5#0+'3'50'<0')5&=)5#$0ee
r*05'<0*'F)5)*'*)$)*'%5#)<%F)5#)*'D=)+'"8):^*'8)'8%$%F%$'5=)*#$"'&05*#$=&&%L5'0$F^5%&"+'50*'
*=*=$$"5s'r)*+')5')*#)'*)5#%80+')<'$=:0$'D=)';$08=&)5'<"*'&_<=<"*')5'*=*'"&#%7%8"8)*'
M%*%0<LF%&"*'<0'D=)')*#^'#$"#"580'8)'8%*&)$5%$'5=)*#$"':)5#)+')<')*#G:=<0'D=)'0$%F%5"'"D=)<<0*'
;)5*":%)5#0*'#"5'8)*&05&)$#"5#)*'D=)'50*'I"&)5'&$))$')5'=5':^*'"<<^'3'*=E<%:"$'"<'*)$'
I=:"50+';)5*":%)5#0*'t%5*=M<"80*';0$')<'"<%)5#0'8%7%50us'
K)3)580'<"';$=)E"'8)'f"5'/5*)<:0';"$"'<"')U%*#)5&%"'8)',%0*O+'<0*')U#$"p0*'3'#0$*%05"80*'
)*M=)$40*';"$"'<"'8):0*#$"&%L5'8)'"<F0'D=)'*)5#%:0*')5'5=)*#$0')5#)58%:%)5#0+'<"'#)5*%L5'
D=)')U%*#)')5#$)'=5';)5*":%)5#0'3'*='8):0*#$"&%L5+'50';=)80':^*'D=)'&$))$')5'<"'
%5#)<)&#="<%8"8'8)'<0*';$0;%0*'&0:;05)5#)*'0$F^5%&0*'8)'5=)*#$0'*)$g')<<0*'F)5)$"5'=5"'
$)"<%8"8'%5#)$5"+'50*'*=*=$$"5')5'*=*';$0;%"*'&<"7)*+'"';"$#%$'8)'*=';$0;%"'$)"<%8"8+'D=)')*'
8%M)$)5#)'8)'"D=)<<"'D=)'7%7%:0*'&0:0'&05]=5#0*'0$F^5%&0*'e*)$)*eK"#ZF'F#,$H&!%,#,$H&!%,#!,#,)H!*&F*#$#-F+F,
Y0')*#03'*)F=$"'*%'";$)&%":0*'0'8)*;$)&%":0*'<"'7%8"-'!)5*"$'&0:0''(/'15''D=)'*0:0*'
"<F0''(/'15"&'3'8%M)$)5#)')D=%7"<)'"';)5*"$<0'&0:0'%58%7%8=0'$)*;)&#0'8)'<0*'8):^*'
%58%7%8=0*-'.*')<':%*:0':)&"5%*:0'3';$08=&)')<':%*:0')M)&#01')<'$)<"#0'D=)'<)F%#%:"')<'
";$07)&I":%)5#0'3+'&="580'<0*'%5#)$)*)*'<0')*#%:=<"5+')<'"5%D=%<":%)5#0'8)'=50*';0$'0#$0*-'
Y=)*#$0'%5*#%5#0'"5%:"<')*')<'D=)')*#"E<)&)')<'&L8%F0'_#%&0'D=)':"5)]":0*'&0:0'I=:"50*-'
V)58):0*'"')*#"E<)&)$'=5"'0;0*%&%L5')5#$)'t50*0#$0*u'3't)<<0*u1')*(*#%*(+;+'&&*(-',)'<"';"$#)'
8)'t)<<0*u'&")'#080'"D=)<<0'D=)'*=;05)'=5'0#$0'&)5*=$"E<)'0';=5%E<)g'";$07)&I":0*'
O
(.cc/V.c'>Zc/+'@0*_-'75115*!"%5*+6'+Z5&*(*4O"+6'+C*&(5&&*+'>"8$%8+'/<%"54"'.8%#0$%"<'ABBA+';-HOS'!$=)E"'
05#0<LF%&"
f)Fo5'_*#)+'=5"'&0*"')*'<"';$)*)5&%"'8)'"<F0')5')<')5#)58%:%)5#0+'3'0#$"'&0*"')*')5#)58)$'D=)'<0'D=)')*#^'
)5')<')5#)58%:%)5#0+')U%*#)-'v--w'50'*)';%)5*"'=5"'&0*"'8)<':%*:0':080'&="580'*)';%)5*"'<"';"<"E$"'D=)'
*%F5%M%&"+'D=)'&="580'*)')5#%)58)'<"':%*:"')*)5&%"'8)'<"'&0*"-'!=)*'8)<';$%:)$':080')*';0*%E<)';)5*"$'D=)'
8%0*'50')U%*#)'3'8)<'*)F=580'50-'t*%'*L<0')*#=7%)*)')5')<')5#)58%:%)5#0'"D=)<<0'8)'D=)'50';=)8)';)5*"$*)'
5"8"':"30$+'50'*)$G"'<0':"30$'D=)';=)8)';)5*"$*)+';=)*'<)'M"<#"$G"';"$"')<<0'*)$'$)"<u-'t*%'"D=)<<0':"30$'
D=)'<0'&="<'5"8"';=)8)';)5*"$*)')*#^')5')<')5#)58%:%)5#0'o5%&":)5#)+'"D=)<<0':%*:0':"30$'D=)'<0'&="<'
5"8"';=)8)'*)$';)5*"80'*)$^'"<F0':"30$'D=)'<0'&="<')*';0*%E<)';)5*"$'"<F0u-'
#56789:;<<5=6#X#[
)*;)&%"<:)5#)')*#"'&";"&%8"8';"$"'*"<#"$50*'#08"*'"D=)<<"*'E"$$)$"*':0$"<)*'D=)'
)5#0$;)&)5'<"'$)"<%4"&%L5'8)'5=)*#$0*'%5#)$)*)*';"$#%&=<"$)*-`
.*')U#$"p0'D=)')*#):0*'#"5'"M)$$"80*'"')*#"'&";"&%8"8+'D=)'*%'*)';%)5*"')5';$0M=58%8"8+'
&"$)&)'8)'<)F%#%:"&%L5+';=)*#0'D=)'*%')U%*#)'=5'0#$0'"<'D=)'0;05)$*)+'*%5'8=8"';"$"')*)'0#$0'
*)$^')<'D=)'<0'8)*%F5"'e)<';*+0'!*(*#%*(e+'"'*='7)4+')<':%*:0'0#$0'"<'D=)'0;05)$*)-'f%'<0'
8)*;$)&%":0*';"$"'$)*"<#"$'5=)*#$"*';$0;%"*'&="<%8"8)*+'#":E%_5'_<'0')<<0*'50*'8)*;$)&%"$^5'
;"$"'8)M%5%$*)9$)0'D=)')<':07%:%)5#0'D=)'&05':^*'%5#)5*%8"8'0'&<"$%8"8'$)M<)]"')*#"';)&=<%"$%8"8+')*'"D=)<'
)5'D=)'<"')*;)&%)'I=:"5"'#0:"'&05*&%)5&%"'8%M)$)5&%"8"'8)'*G'3'*)'*%)5#)'0#$"'$)*;)&#0'8)'
<"'5"#=$"<)4"'3'8)<'$)%50'"5%:"<c)*=<#"'"$E%#$"$%0'D=)'5=)*#$0';)5*":%)5#0')5'<"'*0&%)8"8'0&&%8)5#"<'*%F"'&$)3)580'8)'
M0$:"'%5&=)*#%05"E<)')5'5=)*#$"'*=;)$%0$%8"8'&0:0')*;)&%)-'90:0'8%&)'>"$F=<%*+'&="580'<"'
&=<#=$"'3'<"'&%)5&%"')5#$"5')5'&05M<%&#0+'*%):;$)'F"5"'<"'&=<#=$"-H
K"'&%)5&%"'"7"54"'8G"'"'8G"')5'<"'8):0*#$"&%L5'8)'<0')$$L5)0'8)')*#)';<"5#)":%)5#0-'f%5'
):E"$F0')<'&I0D=)')5#$)')<'&050&%:%)5#0'$)"<'3'<"'&=<#=$"';"$)&)'"<F0';$0F$":^#%&0+';=)*#0'
D=)'5%'*%D=%)$"'<"'8):0*#$"&%L5'8)'<0*'8)*&=E$%:%)5#0*'&%)5#GM%&0*'"';0*#)$%0$%'e<"'#%)$$"')*'
$)8058"+'<"':=])$'50')*#^')58):05%"8"'&="580'*"5F$"+'<"*'*0&%)8"8)*'*"<7"])*'50'*05'
#"<)*e'I"'<0F$"80'"E$%$'<"*':)5#)*'8)'<0*'I"E%#"5#)*'8)'<"'&=<#=$"';0;=<"$+'5%';$);"$"$<"*';"$"'
<0*'5=)70*'&050&%:%)5#0*'3'<0'D=)'_*#0*'%:;<%&"5>%'%5#)5&%L5')*'#$"4"$'=5"'<G5)"'"$F=:)5#"<'D=)'8)*)*#$=&#=$)'<"'&$))5&%"')5'5=)*#$"'
)U&<=*%7%8"8'3'*=;)$%0$%8"8'&0:0')*;)&%)'3'0E*)$7"$'8)'D=_':"5)$"*'*)'%5#$08=&)')<'"5%:"<'
)5')<'$)%50'8)<'"$#)'&05#):;0$^5)0';"$"'#$"5*:%#%$'<0'"5#)$%0$g'8)'D=_'M0$:"')<'"5%:"<''(')5'
)<'"$#)-
`
H
,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,+'.*;"p"+')8-',)E"#)'ABBO
>/cW6Kaf+'K355-'>&"!'#"+(5.C58#51*J+$!+!$'I*+/$!#*+6'+I5(#"+(*C%'+&"+'I*&$158!N+7'C"#'+'?"$&)<05"'ABBA'
v--w'<0*'I=:"50*'v--w'*0:0*'$)&%_5'<<)F"80*'"<')*&)5"$%0')70<=#%70-'K"*'*%:%<%#=8)*'8)'<0*'I=:"50*'&05'0#$"*'
M0$:"*'8)'7%8"'*05':=&I0':^*'%:;"&#"5#)*'D=)'<"*'8%M)$)5&%"*-'Y=)*#$"'G5#%:"'&05)U%L5+'8=$"5#)'7"*#0*'
;)$G080*'8)'#%):;0'F)0<LF%&0'8)E)$G"5'%5*;%$"$'"8:%$"&%L5+'50'$);=<*%L5-'v--w'90:0')*;)&%)+'#08"7G"'
#)5):0*'<0')U&_5#$%&0')5'<"'%:"F)5'8)'50*0#$0*':%*:0*+'v--w'5=)*#$"'&=<#=$"'#08"7G"'50')5#%)58)'$)"<:)5#)'
<"'&%)5&%"'8)'<"')70<=&%L5-'9="580'<"'&=<#=$"'3'<"'&%)5&%"')5#$"5')5'&05M<%&#0+'*%):;$)'F"5"'<"'&=<#=$"-
U#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
B$#'&*$+$#+!"#4+*4
2&+"!5."&+-$'+.'+.5%"+6'(6'+'&+"%#'+';0$D=)'<"':%$"8"'8)<'"5%:"<'&0:=5%&"'&05')<':%*:0'
:%*#)$%0+';$0M=58%8"8'3';)5)#$"&%L5'D=)'<"'8)<'I0:E$)-J'9="580'*)'&$=4"'<"':%$"8"'&05'
&="<D=%)$'"5%:"<'D=)'8%*;05F"'8)'0]0*+')*#"'&0:=5%&"&%L5'50';"$)&)'*)$'$)"<:)5#)'8%*#%5#"'
8)'<"'D=)'*)';$08=&)')5#$)'I=:"50*-'9$)0'D=)'8)*8)'=5"'&0:;$)5*%L5'50'&=<#=$"<'8)'<"'
7%8"+')<'"5%:"<')*'M^&%<:)5#)'$)&050&%E<)'&0:0')D=%e7"<)5#)-'>%$^580<)'8)*8)'<0'D=)'50*')*'
&0:o5+'3'#)5%)580')5'&=)5#"'<"'#)58)5&%"'&=<#=$"<'8)'5=)*#$"')*;)&%)'"'8%7=<F"$'
&050&%:%)5#0*')5'8%M)$)5#)*':0:)5#0*'8)<'#%):;0'D=)'<=)F0'*)'8):=)*#$"5'50'&0$$)&#0*+'
)*'M^&%<')5#)58)$')<')$$0$'D=)'*=;05)')<'"#$%E=%$<)'=5"'7%8"'%5#)$%0$'&=3"*'&"$"&#)$G*#%&"*+'"'
;)*"$'8)'<0*')*M=)$40*'$)"<%4"80*+'*)F=%:0*'8)*&050&%)580-P'
Q"E<"580'&05'?%<<'R%0<"+'50*'7):0*'"'50*0#$0*':%*:0*')5'*=*'0]0*'*%5#%)580'<"'
%$$)&05&%<%"E<)'"<#)$%8"8'8)'=5"'%5#)<%F)5&%"'0$8)5"8"'*)Fo5'=5':=580'D=)';08):0*'
&0:;"$#%$'&05')<'&=)$;0';)$0'50'&05'<"':)5#)-C
.<'%5#)$&":E%0'8)':%$"8"*'&05'=5'"5%:"<'8)E)$G"'<<)7"$50*'"'=5'&=)*#%05":%)5#0'8)'<"'
#)58)5&%"'])$"$D=%4"5#)'8)'5=)*#$"';$0;%"':%$"8"-'
9*(+*3*(+6'+$!+"!5."&+1$"!6*+1*!(56'%"!+"&+A*.C%'+(*!+"#'!#*(+;+1*!(15'!#'(N+2&+A*.C%'+
#*."+1*!(15'!15"+6'+(O+.5(.*+1$"!6*+&'+6'I$'&I'+&"+.5%"6"N+2&+"!5."&+;+'&+A*.C%'+('+
'(1%$#"!+;+1%$0"!+&"+.5%"6"+"+#%"I,(+6'+$!+"C5(.*+6'+!*M1*./%'!(58!+(5.5&"%+/'%*+!*+
56,!#51*N+2&+"!5."&+L$"%6"+('1%'#*(+-$'K+1*!#%"%5".'!#'+"+"-$'&&*(+-$'+L$"%6"!+&"(+1$'I"(K+
J
P
C
?.cW.c+'@0I5-'[A;+&**\+"#+"!5."&(]K')5'H!5."&K+H!5."K+H!5.$(+'(%5<"58'!0$%'/$#'>=*)=:'NCCP
bI"#'k)$)'#I)'*)&$)#*'0M'#I)'"5%:"<x*'<%\)5)**'k%#I+'"58'=5<%\)5)**'M$0:':"5s'#I)'*)&$)#*'kI0*)')U%*#)5&)'
:"5'$)&0F5%*)8'"*'*005'"*'I)'%5#)$&);#)8'"5'"5%:"<x*'<00\s'
yr9=^<)*')$"5'<0*'*)&$)#0*'8)'<"'*%:%<%#=8'&05'3'8)'<"'8%M)$)5&%"'$)*;)&#0'8)<'I0:E$)s'K0*'*)&$)#0*'&=3"'
)U%*#)5&%"')<'I0:E$)'$)&050&G"'#"5';$05#0'%5#)$&);#"E"'<"':%$"8"'8)'=5'"5%:"<--z
/W/>?.Y+'W%0$F%0-'9*+"C5'%#*K+'&+A*.C%'+;+'&+"!5."&+'.*;"p"+')8-'!$)eV)U#0*+'ABBO
=)U\X<<'e&05#$"$%":)5#)'"'<"'7%*%L5'])$"$D=%4"8"'8)'<"*')*;)&%)*e';"$#)'8)'=5"'%5M%5%#"'7"$%)8"8'8)':=580*'
;)$&);#%70*+'#080*';)$M)&#0*';0$'%F="<'3'7%5&=<"80*')5#$)'*G'&0:0'=5"'F%F"5#)*&"';"$#%#=$"':=*%&"<-'
=)U\X<<'8)50:%5"'x/"('*(+/*%+.$!6*(+5!1*L!*(15C&'(x'"'*='$)&05*#$=&&%05)*'8)<'":E%)5#)'8)<')$%40'8)':"$+'
8)'<"'":)E"+'8)'<"':)8=*"+'8)<'F=*"50':"$%50+'8)'<"'"5_:05"':"$%5"+'8)'<"'F"$$";"#"'3'8)'0#$0*'
:%5o*&=<0*'0$F"5%*:0*';0$'<0*'D=)'#)5G"';$)8%<)&&%L5+';0$D=)'*='=5%8"8'M=5&%05"<'&05')<'":E%)5#)';"$)&)'"'
;$%:)$"'7%*#"':=3'"<)]"8"'8)'<"'8)<'I0:E$)'3'8)'<0*'8)50:%5"80*'"5%:"<)*'*=;)$%0$)*RaZK/+'?%<<-'G'"(*!(+4*%+\!*1\5!L+*!+"!+2./#;+B*$('N+[%5#5!L(+^_`Y+E+^__a-'VI":)*'"58'Q=8*05+'K058$)*'
NCC`'
b)'*))'0=$*)<7)*'%5'%#*')3)*'kI%<)'*)5*%5F'#I)'%$$)&05&%<"E<)'0#I)$5)**'0M'"5'%5#)<<%F)5&)'0$8)$)8'"$0=58'"'
k0$<8'k)'&"5'*I"$)'%5'E083'E=#'50#'%5':%58-
#56789:;<<5=6#X#4W
.*!#"b"(+*+."%'(K+'(#?!+'(/'1O451".'!#'+65%5L56*(+"&+A*.C%'N+2&+"!5."&+/$'6'+('%+1"0"6*+
;+1*.56*K+6'+4*%."+-$'+($+'!'%LO"+('+($."+"+"-$'&&"+6'+-$'+;"+65(/*!'+'&+1"0"6*%N+2&+
"!5."&+/$'6'+('%+6*.'(#51"6*+/"%"+#%"C"3"%+;+"C"(#'1'%+"&+1"./'(5!*N+>'%*+($+4"&#"+6'+
&'!L$"3'+1*.c!K+($+(5&'!15*K+L"%"!#50"+(5'./%'+($+65(#"!15"K+($+65(#5!158!K+($+'d1&$(58!+;+
"$#*M'd1&$(58!+%'(/'1#*+6'&+A*.C%'N+2&+"!5."&+*4%'1'+"&+A*.C%'+$!"+1*./"bO"+-$'+'(+
654'%'!#'+6'+1$"&-$5'%+5!#'%1".C5*+A$."!*N+2(+$!"+1*./"bO"+*4%'156"+"+&"+(*&'6"6+6'&+
A*.C%'+1*.*+'(/'15'N+F'.'3"!#'+1*./"bO"+!*M/"%&"!#'+L'!'%"C"+'&+('!#5.5'!#*+6'+('%+#"!+
5L$"&K+-$'+"+.'!$6*+$!*+(5'!#'+&"+1*!I51158!+6'+-$'+'%"+'&+A*.C%'+'&+-$'+1"%'1O"+6'+&"+
1"/"156"6+6'+A"C&"%+1*!+&*(+"!5."&'(N^e+yV$"8=&&%L5'8)'<"'"=#0$"z
.<'"5%:"<'*%:E0<%4"+')5')<';$)*)5#)'#$"E"]0+'<"'%8)"'8)<'*#%*+'D=)')*'"D=)<<0'D=)+'"=5'
&05*#%#=3_58050*+'8)&%8%:0*'5)F"$e50*'3'50*'"#):0$%4"1'*0:0*'#080'"D=)<<0'D=)'
$)&I"4":0*'3':"$F%5":0*g'*0:0*'"5%:"<)*+':=])$)*+'I0:E$)*+':%5=*7^<%80*+'$)#$"*"80*g'
#*6*('*0:0*'#*6*1'<"'):;"#G"')*'=5'E%)5'&0:o5+'3')<'"&#0'8)'*)5#%$*)'"])50'"'=5"'$)"<%8"8'
D=)'#":E%_5'"'=50'<)'&05*#%#=3)'&$)0'D=)')*'<"'7)$8"8)$"'"$:"'8)'m8)*#$=&&%L5':"*%7"m-'.5'
;"<"E$"*'8)'9-'W-'@=5F+'=5"'*%#="&%L5'%5#)$5"'8)'<"'D=)'50'*)'#0:"'&05&%)5&%"'$)";"$)&)'
&0:0'8)*#%50')U#)$50-'
f)$G"'I05)*#0'"8:%#%$'D=)')<'M"*&%*:0'*)')5&=)5#$"')5'#080*'50*0#$0*+'#"<'&0:0'M0$:=<L'
,)<)=4)''&+4"(15(.*+-$'+A"1'+-$'+!*(+'!1"!#'+'&+/*6'%K+-$'+6'(''.*(+"-$'&&*+.5(.*+-$'+
!*(+6*.5!"+;+!*(+'d/&*#"-NN
'
NB
NN
?.cW.c+'@0I5-'[A;+&**\+"#+"!5."&(]K')5'H!5."&K+H!5."K+H!5.$(+'(%5<"58'!0$%'/$#'>=*)=:'NCCP
#I)')3)*'0M'"5'"5%:"<'kI)5'#I)3'&05*%8)$'"':"5'"$)'"##)5#%7)'"58'k"$3-':"5'E)&0:)*'"k"$)'0M'I%:*)<M'
$)#=$5%5F'#I)'<00\-'#I)'"5%:"<+'"58'#I)':"5+'*&$=#%5%*)'"58'<00\')"&I'0#I)$'"&$0**'"'*%:%<"$+'E=#'50#'%8)5#%&"<+'
"E3**'0M'505e&0:;$)I)5*%05-'#I)'"5%:"<'I"*'*)&$)#*'kI%&I+'=5<%\)'#I)'*)&$)#*'0M'&"7)*+':0=5#"%5*+'*)"*+'
"$)'*;)&%M%&"<<3'"88$)**)8'#0':"5-'#I)'"5%:"<'&"5'E)'\%<<)8'"58')"#)5'*0'#I"#'%#*')5)$F3'%*'"88)8'#0'#I"#'
kI%&I'#I)'I=5#)$'"<$)"83';0**)**)*-'#I)'"5%:"<'&"5'E)'#":)8'*0'#I"#'%#'*=;;<%)*'"58'k0$\*'M0$'#I)';)"*)5#-'
E=#'"<k"3*'%#*'<"&\'0M'&0::05'<"5F="F)+'%#*'*%<)5&)+'F="$"5#))*'%#*'8%*#"5&)+'%#*'8%*#%5&#5)**+'%#*')U&<=*%05+'
M$0:'"58'0M':"5-'"5%:"<'0MM)$':"5'"'&0:;"5%05*I%;'kI%&I'%*'8%MM)$)5#'M$0:'"53'0MM)$)8'E3'I=:"5')U&I"5F)-'
%#'%*'"'&0:;"5%05*I%;'0MM)$)8'#0'#I)'<05)<%5)**'0M':"5'"*'"'*;)&%)*-'*=&I'"5'=5*;)"\%5F'&0:;"5%05*I%;'k"*'
M)<#'#0'E)'*0')D="<'#I"#'0M#)5'05)'M%58*'#I)'&057%&#%05'#I"#'%#'k"*':"5'kI0'<"&\)8'#I)'&";"&%#3'#0'*;)"\'k%#I'
"5%:"<*-'
t/5#%)8%;0u'NCJA+',)<)=4)'3'W="##"$%+';$)M"&%0'>%&I)<'(0=&"=<#g'&%#"'8)'Q"<'(0*#)$';-AN`
44#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
9"+C%'1A"+-$'+('/"%"+'&+.$!6*+"!5."&+6'+!*(*#%*(+"#%"I5'("+!$'(#%*+5!#'%5*%NA+'8)'M0$:"'D=)'
)<';0*%&%05":%)5#0'$)*;)&#0'8)'"D=_<+'&05*#%#=3)'=5"'I)$$":%)5#"';0<G#%&"'8)';$%:)$'0$8)5ee
K"*'0E$"*';<^*#%&"*'*)<)&&%05"8"*';"$"')*#)'#$"E"]0'0E)8)&)5'"'80*'*)5&%<<"*'$"405)*1'<"'
;$%:)$"')*'D=)')5'&"*%'#08"*')*#^';$)*)5#)')<'"5%:"<'3'<"'*)F=58"')*'D=)')<'"5%:"<'D=)'I"3'
)5')<<"*+'.'+.5%"g':^*'"<<^'8)'<"':%$"8"+')*#)'.'+.5%"'*)'$)M%)$)'"'=5':080'8)')*#"E<)&)$'
=5"'%5#)$<0&=&%L5+'=5"'%5#)5&%L5'8)'#$"5*:%#%$+'8)'&0:=5%&"$*)-'K"':%$"8"'%5#)$<0&=#%7"'8)<'
"5%:"<'8)7%)5)')5'=5'%5#)$$0F":%)5#0'"&)$&"'8)'5=)*#$"';$0;%"'M0$:"'8)')*#"$')5#$)'#080'
"D=)<<0'D=)'&05*#%#=3)'_*#)+'5=)*#$0':=580K0*'"$#%*#"*'D=)'I)'%5&<=%80')5')*#)'#$"E"]0+'50'0E)8)&)5'"'*='#$"3)&#0$%"':^*'0':)50*'
)U#)5*"'&0:0'#"<)*+'*%50'"'"<F=50'8)'*=*'#$"E"]0*')5';"$#%&=<"$+'D=)'I)'&05*%8)$"80'
"8)&="80';"$"')<'#):"'D=)':)'0&=;"-',)')*#"'M0$:"+'<"'*)<)&&%L5'I"'*%80'$)"<%4"8"')5'E"*)'
"'#$"E"]0*'3'50'"'#$"3)&#0$%"*'"$#G*%#&"*>)'F=*#"'%:"F%5"$'5=)*#$"*'&";"&%8"8)*'e8)<'*)$'I=:"50e'3';0*%E%<%8"8)*+':^*'D=)'&0:0'
)M)&#0'8)'5=)*#$"';$0;%"'70<=5#"8+'&05*&%)5&%"'$"&%05"<'0'%5#)<%F)5&%"+'&0:0'$)*=<#"80'8)'=5'
)5F$"5"])'0')&0*%*#):"g';)5*"$'D=)'<"*'&0*"*'*)'8"5';0$'=5"'&05*#)<"&%L5'8)'M)5L:)50*'
D=)'50'0E)8)&)5'"'<0'D=)'*0:0*'&";"&)*'8)'%:"F%5"$'3'$"&%05"<%4"$/<'%F="<'D=)'*)5#%:0*+'I03'8)'M0$:"')*;)&#"&=<"$+'D=)')<'8)*#%50'8)<';<"5)#"')*#^')5'
5=)*#$"*':"50*+':)'F=*#"'%:"F%5"$'D=)'5=)*#$0'8)*#%50')*#^'%F="<:)5#)')5'"<F=5"*'0#$"*'
:"50*-'
a:"F%5"$+';0$')]):;<0+'D=)')*#)':=580')*';$08=&#0'8)'<"'%5#)<%F)5&%"+'M$G"'3')*#$"#_F%&"+'8)<'
$)%50'"5%:"<-'Q"3'"*":E<)"*-'.5')<<"*'*)'8)&%8)';0$'8L58)'8)E):0*'"7"54"$'50*0#$0*+'<0*'
I=:"50*+')5'5=)*#$"'M0$:"'8)'I"E%#"$-'f)'8)&%8)'D=)'8)E):0*'e;0$')]):;<0e'8)*&=E$%$'<"'
F)5_#%&"-'.<'"5%:"<'D=)'e)5#$)'#080*e'8)&%8)5'D=)'7"'"'8%$%F%$')*#)'8)*"$$0<<0'I=:"50+')*#"'
7)4'*)$^'<"':0*&"'8$0*0;I%<"-'!0$')]):;<0-
NA
/W/>?.Y+'W%0$F%0-'9*+"C5'%#*K+'&+A*.C%'+;+'&+"!5."&+'.*;"p"+')8-'!$)eV)U#0*+'ABBO<"'"5#$0;0F_5)*%*')*'<0'D=)'$)*=<#"'8)'<"'&)*=$"'3'8)'<"'"$#%&=<"&%L5')5#$)'<0'I=:"50'3'<0'"5%:"<-')*#"'&)*=$"'
*)';$08=&)'*0E$)'#080')5')<'%5#)$%0$'8)<'I0:E$)-
#56789:;<<5=6#X#4@
<FFH!*$/&\%#!%-*!#+&G!*!%-!,
Y=)*#$"'&";"&%8"8'8)'%57)*#%F"&%L5+')5&)$$"80*')5'<"E0$"#0$%0*+'0E*)$7"580'3'"5"<%4"580'<"'
&058=&#"'0'<"'E%0<0FG"'8)'<0*'"5%:"<)*+'3'<"'#)&50<0FG"'D=)'8)*"$$0<<":0*'"')*#0*')M)&#0*+'
;"$)&)5'M%5"<:)5#)'8)*):E0&"$')5'=5'5=)70'8)*<=:E$":%)5#0'8)'Y"$&%*0'"5#)'*='$)M<)]0.<';$%:"#L<0F0+')<';$%:"#)'3')<')*;)]0-'r/'D=%)5':%$"'7)$8"8)$":)5#)')<';$%:"#L<0F0s'r"<'
;$%:"#)'0E*)$7^580*)')5')<')*;)]0+'0'"'*G':%*:0'0E*)$7"580'"<';$%:"#)'0E*)$7"$*)')5')<'
)*;)]0sNS'
9$)0'D=)')*#":0*':^*'M"*&%5"80*';0$'5=)*#$"'&";"&%8"8'8)'8)*&=E$%$+'D=)';0$'<0'D=)'
$)"<:)5#)'8)*&=E$%:0*-'K0'D=)'$)"<:)5#)'8)*&=E$%:0*'50';"$)&)'#)5)$'7)$8"8)$"'
&";"&%8"8'8)'F)5)$"$'=5"'&05&%)5&%"'F<0E"<+'&";"4'8)'"&#="$'M=)$"'8)'<"'M"*&%5"&%L5'8)'
50*0#$0*':%*:0*-'Y=)*#$"'&%)5&%"')*')*;)]0'$)M<)&#"5#)')5')<'D=)'"8e:%$"$50*'---'
@0I5'?)$F)$')5'=5'#)U#0'<<":"80'VfC('%I"#5*!W^a+$)"<%4"'=5':"$"7%<<0*0'"5^<%*%*'8)<'
%5#)$&":E%0'7%*="<')5#$)')<'I0:E$)'3')<'"5%:"<-'Y0*')U;<%&"'D=)'*05'<0*'"5%:"<)*'<0*'D=)'*)'
50*'0M$)&)5'"'<"'7%*#"'3'8)]"5'D=)'<)*'7)":0*+'%5&<=*0')5')<'&"*0'8)<'&"4"80$-'
f%F=%)580')*#"'<LF%&"'D=)'%57%)$#)'<"'M0$:"')5'D=)';)5*":0*'5=)*#$"'$)<"&%L5'&05'<0'D=)'
)*#^'"M=)$"+':)'F=*#"'%57)$#%$'<"'])$"$D=G"'3';)5*"$'D=)'*05'<0*'"5%:"<)*'8)'M0$:"'
;$0F$":^#%&"'<0*'D=)'I"5'8%$%F%80'3'8%$%F)5'5=)*#$"'"&#%7%8"8g')<<0*'I"5'8)&%8%80'%5#)F$"$*)'
)5'5=)*#$"'7%8"'3'50*'I"5';)$:%#%80'8%*;05)$'8)')<<0*';"$"'&05*#$=%$'5=)*#$"'*0&%)8"8+'#"5#0'
<"'8)'&05*=:0'&0:0'<"'8)'&050&%:%)5#0-'Y0'8)E):0*'0<7%8"$'D=)'*05'*L<0'"<F=5"*'<"*'
)*;)&%)*+'#"5#0'8)';<"5#"*'&0:0'8)'"5%:"<)*+'<"*'D=)'&057%7)5'&05'50*0#$0*+'*L<0'"<F=50*'
I"5'D=)$%80'0$F"5%4"$')*#"'*0&%)8"8'&05]=5#"'&05')<'I=:"50-'
>)'F=*#"$G"':"5#)5)$')5')*#)'#)U#0'<"';)$*;)&#%7"'8)'D=)'*05')<<0*'e;<"5#"*'3'"5%:"<)*e'<0*'
D=)'I"5'8)&%8%80'"<%"$*)'&05'50*0#$0*'3'50'50*0#$0*'<0*'D=)'I):0*'6*.5!"6*+&"+!"#$%"&'0".U#$";0<"$'<"':%$"8"'"5#$0;0&_5#$%&"'3')*#"E<)&)$'=5'5%7)<')D=%7"<)5#)';"$"'#080*'<0*'
)<):)5#0*'&05&=$$)5#)*')5'=5"')*M)$"'8)'&0)U%*#)5&%"+')5'D=)'<"'%5#)5&%L5'3'";0$#"&%L5'8)'
NS
NO
K"';$%:)$"':)#080<0FG"'";<%&"8"';0$')<';$%:"#L<0F0'W0$805'W"<<=;+')5'NCHP+'&05*%*#%L')5';05)$'M$)5#)'"<'
)*;)]0'"'=5'&I%:;"5&_';"$"'0E*)$7"$'*='&058=&#"'3'8G"*'8)*;=_*'*)')7%8)5&%L'D=)')<';$%:"#)'&0:)54L'"'
%5*;)&&%05"$';"$#)*'8)'*='&=)$;0'D=)'*L<0';=)8)'7)$'"'#$"7_*'8)<')*;)]0-'.5'<"'*)F=58"+'"8):^*'8)'&0<0&"$'
"<'&I%:;"5&_';0$'=5'<";*0'8)'#%):;0'M$)5#)'"<')*;)]0+';0*#)$%0$:)5#)'E"]0'"5)*#)*%"'*)'<)':"$&L'=5"'&)]"'3'
<"'0$)]"'0;=)*#"-'65"'7)4'$)&=;)$"80+')<'*%:%0')$"'*%#="80'5=)7":)5#)'M$)5#)'"<')*;)]0'3'*)'0E*)$7L'D=)'*)'
#0&"E"'<"*':"$&"*+')*#"E<)&%_580*)'"*G'D=)'*)'I"EG"'"=#0'$)&050&%80?.cW.c+'@0I5-'fC('%I"#5*!K')5'H!5."&K+H!5."K+H!5.$(+'(%5<"58'!0$%'/$#'>=*)=:'NCCP-
4J#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
&"8"')<):)5#0'*)"5'&0:;$)58%80*'&0:0'%:;=<*"80*'8)*8)'=5')5F$"5"])'&0:o5gN`'<"'"$"p"'
5=5&"'&05*#$=%$G"'*='#)<"'*%'50')U%*#%)*)'<"':0*&"+';0$':^*'D=)'50'*)'&0504&"5'8)'
"5#):"50+'5%'"o5)5'*=*')*M=)$40*'8)'M0$:"'&05*)5*="8"-'>)'F=*#"$G"+'I"E<"580'&05'
6)U\X<<+'#$"#"$'8)'8"$'=5'/"('*+/*%+.$!6*(+5!1*L!*(15C&'(--NH
B";+-$'+/*!'%+6'+%'&5'I'+'&+('%I515*+-$'+A"!+/%'(#"6*+.$1A"(+'(/'15'(+"!5."&'(+"&+
A*.C%'J+"&5.'!#"158!K+4$'!#'+5!"L*#"C&'+6'+.'651".'!#*(K+5!I'(#5L"158!NJ'--905'<"'&0<"E0$"&%L5'8)<'"5%:"<'*)'I"5'8)*"$$0<<"80'&"*%'#08"*'<"*'8%*&%;<%5"*'D=)'I"5'
;)$:%#%80')<'$^;%80'"7"5&)'&%)5#GM%&0'8)'<0*'o<#%:0*'*%F<0*1
NHBB1'<0*':":GM)$0*';)$:%#)5'8)*&=E$%$'<"'&%$&=<"&%L5'*"5F=G5)"g'NJBB1'*)'8):=)*#$"5'<0*'
;$%5&%;%0*'8)'&0:E=*#%L5')5'<"'$)*;%$"&%L5+'3'<"';$)*%L5'*"5F=G5)"'F$"&%"*'"<'&"E"<<0g'NPBB1'
!"*#)=$'3'=5"'07)]"'8):=)*#$"5'<"'#)0$G"'8)'<0*'F_$:)5)*g'NPBB1'!"7<07'3'<0*';)$$0*'
8):=)*#$"5'<0*':)&"5%*:0*'8)<'&058%&%05":%)5#0g'NCAN1'K0)k%'3'<"*'$"5"*'8):=)*#$"5'D=)'
<"'#$"5*:%*%L5'5)=$05"<'*)'8"'"'#$"7_*'8)'<"'*%5";*%*'D=G:%&"g'NCCH1'<"'07)]"',0<<3'"&&)8)'"'
&05*#%#=%$*)'"'&0:0'*)$'&<05"80.5'&="5#0'"'<"'%57)*#%F"&%L5'8)'<"*')5M)$:)8"8)*+'3')<'8)*"$$0<<0'M"$:"&0<LF%&0'<0*'I)&I0*'
*)'*=&)8)5'"'F$"5'7)<0&%8"8'8)*8)'M%5"<)*'8)<'{a{1'<"'8%M#)$%"'3'<0*'&)$80*')5'NPCBg'<"'
%5*=<%5"+'<0*';)$$0*'3'<"*'07)]"*')5'NCANg'<0*'"5#%E%L#%&0*'3'<0*'&)$80*')5'NCOSg'<"';0<%0'3'<0*'
:050*')5'NCOBg'<0*':"5G"&0e8);$)*%70*'3'<0*'&)$80*')5'NCOBg'<"*'"5)*#)*%"*'3'<0*'$0)80$)*'
)5'NC`Bg'<0*';)$$0*'3')<'&0$"4L5')5'NCHBg')<'"$:"8%<<0'3'<"'<);$"')5'NCJBg')<'*%8"'3'<0*':050*'
)5'NCPB-
N`
NH
NJ
/W/>?.Y+'W%0$F%0-'9*+"C5'%#*K+'&+A*.C%'+;+'&+"!5."&+'.*;"p"+')8-'!$)eV)U#0*+'ABBO
--<"*'%57)*#%F"&%05)*'8)'6)U\X<<'*0E$)')<'":E%)5#)'"5%:"<'*05'&0)#^5)"*'8)'<"'MG*%&"'&=^5#%&"'3'8)'<"*'
7"5F="$8%"*'"$#G*#%&"*-'/<'%F="<'D=)'_*#"*+')U;$)*"5')<'"E"58050'*%5'$)*)$7"*'8)'&="<D=%)$';)$*;)&#%7"'
"5#$0;0&_5#$%&"')5'<"*'&%)5&%"*'8)'<"'7%8"'3'<"'8)*I=:"5%4"&%L5'$"8%&"<'8)'<"'%:"F)5'8)'<"'5"#=$"<)4"-'y50'
8)E)'*0$;$)58)$+';=)*+'D=)')])$&%)$"5'=5"'M=)$#)'%5M<=)5&%"'#"5#0'*0E$)')<'M%<L*0M0'D=)':^*'*)'I"')*M0$4"80'
)5')<'*%F<0'{{';0$'*);"$"$'"<'I0:E$)'8)<'7%7%)5#)'eQ)%8)FF)$e'3'*0E$)',)<)=4)'D=)'#$"#L'8)';)5*"$')<'"5%:"<'
8)':080'"E*0<=#":)5#)'50'"5#$0;0:L$M%&0zRZY'6.{[|KK+'@"\0E+')5'/W/>?.Y+'W%0$F%0-'9*+"C5'%#*K+'&+A*.C%'+;+'&+"!5."&+'.*;"p"+')8-'!$)eV)U#0*+'
ABBO
(c.f}6.V'(.?c.+'@0*_'K=%*-'2&+$(*+6'+"!5."&'(+;+6'+/%*6$1#*(+6'+*%5L'!+"!5."&+'!+'&+#%"#".5'!#*+6'+
'!4'%.'6"6'(K')5'9*(+"!5."&'(+'!+&"+15'!15"+;+'!+&"+I56"+A$."!"N+T&$(#%"15*!'(+0**&8L51"(+6'+$!+.5&'!5*+
P(5L&*(+gTMggQK+(=58"&%L5'?"5&"]"+'ABBN
#56789:;<<5=6#X#4I
/&#="<:)5#)'*)'$)"<%4"5'5=:)$0*0*')U;)$%:)5#0*'&05'"5%:"<)*g')5')<'*)&#0$'8)'<"'
)8=&"&%L5'*)'$)"<%4"5';$^&#%&"*'8)'E%0<0FG"')5')*&=)<"*+')5'%5*#%#=#0*'8)'8%*)&&%L5'3')5'
M"&=<#"8)*g')5'<0'$)M)$)5#)'"'<"'*"<=8'I=:"5"'*)'$)"<%4"5'5=:)$0*0*')U;)$%:)5#0*';"$"')<'
8)*"$$0<<0'8)';$^&#%&"*':_8%&0eD=%$o$F%&"*+'U)50#$"5*;<"5#)*'y#$"5*;<"5#)*'8)'L$F"50*'#$"5*e
)*;)&%)z+'5=)70*':)8%&":)5#0*')5'<"'%58=*#$%"'M"$:"&0<LF%&"+';$=)E"*';"$"'8)#)$:%5"$'<"'
#0U%&%8"8'8)';$08=&#0*'8)'&05*=:0'I=:"50'"*G'&0:0')U;)$%:)5#0*'&058=&#="<)*';"$"')<'
8)*"$$0<<0'8)'<"';*%&0<0FG"g'#":E%_5'&05#%5o"5'<0*')U;)$%:)5#0*';"$"'<"'%58=*#$%"'&0*:_#%&"g'
3')5')<'^:E%#0'8)';08)$'#$"8%&%05"<'*)'$)"<%4"5')U;)$%:)5#0*'"5%:"<)*';"$"')<'8)*"$$0<<0'8)'
<"'&"$$)$"')*;"&%"<'3':%<%#"$.U%*#)5'%5*#"<"&%05)*'&0:)$&%"<)*')*;)&GM%&"*'D=)'0M$)&)5'*)$7%&%0*'8)')U;)$%:)5#0'"5%:"<'"'
8%M)$)5#)*'%58=*#$%"*!$^&#%&":)5#)'<"'#0#"<%8"8'8)'<0*'<0F$0*':_8%&0*')5')<'*-'{{'I"5'*%80'F$"&%"*'"'<"'
&0<"E0$"&%L5'"5%:"<1')<'#$"5*;<"5#)'8)'L$F"50*+'<"':^D=%5"'8)'8%^<%*%*+'"5#%E%L#%&0*'3'
7"&=5"*+')#&-'3'"=5D=)'5=)*#$0*'0$8)5"80$)*'*05'*=M%&%)5#):)5#)';0#)5#)*'I03')5'8G"';"$"'
*%:=<"$'F$"5'&"5#%8"8'8)';$0&)*0*+'"o5'*05'5)&)*"$%0*'<0*'"5%:"<)*';"$"'<"'%57)*#%F"&%L5')5'
<"'%5#)$"&&%L5')5#$)':0<_&=<"*+'&_<=<"*+'#)]%80*+'L$F"50*+'0$F"5%*:0*'3':)8%0'":E%)5#)g'<"'
%57)*#%F"&%L5'8%$)&#"'&05'"5%:"<)*'&05#%5o"')5'$)<"&%L5'"<'/<4I)%:)$+'<"')*&<)$0*%*':o<#%;<)+'
<)*%05)*'8)'<"':_8=<"')*;%5"$'3')5'F)5)$"<')5'#08"*'<"*'%57)*#%F"&%05)*'D=)'50';)$:%#)5'
#$"E"]"$'&05':08)<0*'%5'7%#$0-NP
A&F$*-!
K"'0;0*%&%L5'8)'5=)*#$"'&=<#=$"'#)&50<LF%&"'"'<"'5"#=$"<)4"')*'=5"')U#$"p"'I)$$":%)5#"'
I)805%*#"-'65'&0&I)'50'8)]"'8)'*)$'5"#=$"<)4"-'.<'$0:;)$')<'<"40'8)<'0$%F)5')*'=5"';)$7)$*"'
:"5%0E$"'8)'"<%)5"&%L5-'th$5'!+-$5'%"+(5#$"%+15'!15"K+5!6$(#%5"+;+#,1!51"+'!+*/*(5158!+"+&"+
!"#$%"&'0"K+6'(#5'%%"+"+&"+!"#$%"&'0"+"+$!+&$L"%+1*./&'#".'!#'+5."L5!"%5*K+&'3*(+6'+1$"&-$5'%+
(*15'6"6+A$."!"uNC-
NP
NC
I##;1jj)5-k%\%;)8%"-0$Fjk%\%j/5%:"<~#)*#%5F
[6YfV(Zc6>-'T.+0**+6'%+\$!(#+T+'E8-NJO-';-JPePB
K0'D=)';"$"'<0*'&%)5#GM%&0*'50'*=;05G"'F$"5';$0E<):"')$"';"$"'<0*'I%*#0$%"80$)*'8)<'"$#)'%:;)5*"E<)1'D=)')<'
"$#)'M=)$"'=5't;$08=&#0'8)'<"'5"#=$"<)4"uc0*"<%58'90k"$8+'=5"'*0&%L<0F"':_8%&"'D=)'*058)"'3'8)*:%#%M%&"'<0't5"#=$"<u'"'#$"7_*'8)'<"'&0:;"$"&%L5'8)'
:)8%&%5"*'"<#)$5"#%7"*-',)*#$=3)')<'"5#"F05%*:0'5"#=$"<)4"'e'&=<#=$"'y#$"8%&%L5'E058"80*"'e':08)$5%8"8'
;)$7)$*"z-'
4S#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
/$%*#"*'&0:0'.8="$80'["&+'D=%)5'8)*8)'<"'$0EL#%&"')70<=&%05L')5'*='8)*"$$0<<0'"$#G*#%&0'
I"&%"'<0'D=)'I"'8"80')5'<<":"$'E%0"$#)'0'"$#)'#$"5*F_5%&0+')*#^5'$)"<%4"580'*=*'
;$08=&&%05)*';<^*#%&"*')5'&0<"E0$"&%L5'&05'%5*#%#=#0*'&%)5#GM%&0*'8)'8)*"$$0<<0'E%0<LF%&0-'
/M%$:"'D=)'*%'<0*'"7"5&)*'8)'<"'F)5_#%&"'7"5'"'&":E%"$';0$'&0:;<)#0'5=)*#$"'*0&%)8"8+'<"'
o5%&"':"5)$"'8)'$)M<)U%05"$'*0E$)')*#0*'&":E%0*'"'#$"7_*'8)<'"$#)')*'=#%<%4"580'<"*':%*:"*'
I)$$":%)5#"*'3'#_&5%&"*'D=)'<0*'&%)5#GM%&0*---'F'L$5%+$#5&50"!6*+&*(+.'65*(+65L5#"&'(K+/'%*+6'+
$!"+4*%."+."(+5!#'!("+-$'+'(#"C&'15'('+$!"+1*!'d58!+'!#%'+&*+4O(51*+;+&*+I5%#$"&K+'!#%'+&*+
C5*&8L51*+;+&*+#'1!*&8L51*N+>%'#'!6*+1%'"%+$!+$!5I'%(*+65!?.51*+'!#%'+&*(+6*(+/"%"+%*./'%+
&"(+4%*!#'%"(+;+'!#%"%+'!+$!"+!$'I"+'1*&*LO"N+
["&'$)"<%4"';%)4"*'&0:0'/<E"+'=5'&05)]0'"<'D=)'*)'<)'I"'%:;<"5#"80'=5'F)5'8)'<"*':)8=*"*'
D=)';$08=&)'M<=0$)*&)5&%"')5'8)#)$:%5"8"*'*%#="&%05)*'8)'<=4g')*#)'&05)]0'50'<<)FL'"'*)$'
)U;=)*#0+';)$0')<'#$"E"]0')70<=&%05"')5'=5'M0$0')5'<"';^F%5"'k)E'8)<'"$#%*#"g'0#$"'8)'*=*'
;%)4"*+'t2&+*1#"I*+6O"u+'&05*%*#)')5'=5"'*):%)*M)$"')5'<"'D=)'=5"')&0<0FG"'#$"5*F_5%&"'
M0$:"8"';0$'$"#05)*+';<"5#"*'3';)&)*+'#080*':08%M%&"80*'&05')<'F)5'M<=0$)*&)5#)'8)'<"'
:)8=*"'3'"<'%F="<'D=)'/<E"';$08=&)5'=5'E$%<<0'7)$8)'&="580'*05')U;=)*#"*'"'<"'<=4'"4=<-'.5'
<"'*):%)*M)$"'*)')5&=)5#$"'=5'tE%0E0#u+'D=)')*')<'0;=)*#0'8)<'&3E0$Fg')5'7)4'8)'%5#)F$"$'<"'
#)&50<0FG"')5'=5'*)$'7%70+'*)'#$"#"'8)'=5'$0E0#')5')<'D=)'I"3'%5#)F$"8"*'=5'F$=;0'8)'
":)E"*-'.<'E%0E0#'*)':=)7)')5')<')*;"&%0'8)'"&=)$80'&05'<"'"&#%7%8"8'8)')*#0*'0$F"5%*:0*+'
;)$0'#":E%_5'*)';=)8)'8%$%F%$'=5';0&0'*='8%$)&&%L5'8)*8)'=5"';^F%5"'k)E-'
f#)<"$&+';%05)$0')5'<"'=#%<%4"&%L5'8)'5=)7"*'#)&50<0FG"*'";<%&"8"*'"'*='&=)$;0+')5'$)&%)5#)*'
M)&I"*'%5&=$*%05L')5')<'&":;0'8)<'E%0"$#)'"<'%:;<"5#"$*)'=5"'0$)]"'8)'#%;0'0$F^5%&"+'D=)'M=)'
"<%:)5#"8"'8=$"5#)'=5'#%):;0'"'#$"7_*'8)'E%0$)"&#0$)*+')5')<'E$"40'%4D=%)$80+'<"'&="<')$"'=5"'
$_;<%&"'"')*&"<"'8)'*='0$)]".<':"#)$%"<'0$F^5%&0'*)'&057%)$#)')5'<"'I)$$":%)5#"'"$#G*#%&"'8)<'E%0"$#%*#"+'8)*8)':"$%;0*"*+'
;<"5#"*+'F)5)*+'/,Y'I"*#"';%)<'I=:"5"+'<"E0$"#0$%0*+'E%0$)"&#0$)*+'#=E0*'8)')5*"302+')5'0#$"'7)$#%)5#)'8)<'"$#)'7)5%8)$0')5'#0$50'"')*#"*';0*%E%<%8"8)*+'c"3'[=$4k)%<AB'50*'
0M$)&)'=5"'*)5&%<<"')U;<%&"&%L5+'"<'I"E<"$'8)'<"'5"50#)&50<0FG"'%:;<"5#"8"')5')<'&)$)E$01'
AB
'I##;1jjkkk-*:"$#;<"5)#-)*j$)8)*E<0Fjs;•PBl:0$)ePB'
#56789:;<<5=6#X#4?
1$"!6*+-$'%".*(+1%'"%+$!"+%'"&56"6+I5%#$"&K+&*(+!"!*C*#(+6'(1*!'1#"%?!+&"(+('b"&'(+
/%*1'6'!#'(+6'+!$'(#%*(+('!#56*(+%'"&'(K+;+&"(+($(#5#$5%?!+/*%+&"(+('b"&'(+-$'+'&+1'%'C%*+
%'15C5%O"+(5+'(#$I5,%".*(+%'"&.'!#'+'!+'&+'!#*%!*+I5%#$"&i+;+('!#5%'.*(+%'"&.'!#'+-$'+
'(#".*(+'!+'('+'!#*%!*+I5%#$"&N+2&+65('b*+6'+!$'I*(+'!#*%!*(+('+1*!I'%#5%?+'!+$!"+!$'I"+
4*%."+6'+"%#'i;+!*+(*&".'!#'+('%?+I5($"&+*+"$65#5I*K+#".C5,!+#?1#5&i+5./&51"%?+#*6*(+&*(+
('!#56*(i
f%'E%)5')*#)'#%;0'8)'#$"E"]0*')*#^5'*%5'8=8"')5'<"'<G5)"'8)')*#"'%57)*#%F"&%L5+'50'*05'
;$0&)*0*'D=)':)'%5#)$)*)5'#"5#0')5')<'^:E%#0'8)<'"$#)+'5%':0*#$"80*';0$'"$#%*#"*+'&0:0')5'*='
;$0;%0'#)$$)50+')<'8)'<"'&%)5&%"'3'<0*'&%)5#GM%&0*-'
.5')*#"'%57)*#%F"&%L5'8)*)0';)$:"5)&)$')5'=5"')*M)$"')5'D=)'50*')*':=&I0':^*'M^&%<'
$)&050&)$50*'&0I"E%#"580'&05'"5%:"<)*'e:":GM)$0*e')5'<0*'D=)';08)$50*'$)&050&)$+'3'
*)5&%<<":)5#)'50';)$8)$'8)'7%*#"'<"*'&<"7)*'8)'<"'E%0<0FG"'D=)'50*')U;<%&"5'"'=50*'3'"'0#$0*>)'F=*#"$G"'*)$'&";"4'8)'%8)5#%M%&"$'<"'M0$:"')5'D=)')<'"5%:"<+'%5M%<#$"80')5#$)'<0*':"#)$%"<)*'
8)<'"$#%*#"+'0')<'"$#%*#"'"'#$"7_*'8)'<"'%:"F)5'8)<'"5%:"<+'#$"#"5'8)'8"$'7%*%E%<%8"8'3'*058)"$'
=5"')*M)$"'8)'&057%7)5&%"+'#$"#"$'8)')5#)58)$'<0'D=)')5'_*#"')*#^'*=&)8%)580.<'"5%:"<'8)<'D=)'8)*)0'I"E<"$+'=5"'7)4'$)"<%4"80'<0'"5#)$%0$+';=)8)'5%'*%D=%)$"')*#"$'
;$)*)5#)'&0:0'M%F=$"')5'<0*'#$"E"]0*+';0$D=)')*#)'"5%:"<')*'=5'*#%*+'=5'0#$0'D=)'I"E%#"')<'
%5#)$%0$'I=:"50g'&0:0'#"<';=)8)'#0:"$'8%M)$)5#)*'M0$:"*'3')U;$)*"$*)'8)'%5M%5#"*':"5)$"*-'
.*#)'#$"E"]0')*')<'M=58":)5#0'8)'=5'8)*"$$0<<0'=<#)$%0$+')<'"5%:"<'8)E)'M=5&%05"$')5'_<'&0:0'
<"'E"*)'*0E$)'<"'&="<')<"E0$"$'=5"'&05*#$=&&%L5'D=)'*)'"<)]"$^';"=<"#%5":)5#)'8)'<0';"<;"E<)'
3'8)*&$%;#%E<)BF,#$%&'$"!,#-$'HF/F#,F%#0$#%$+/*$",3
.5')<'#$"E"]0'8)'9"$*#)5'Qi<<)$'3'c0*):"$%)'V$0&\)<'25!+B"$(+4U%+F1AR'5!'+$!6+@'!(1A'!+
Pj!"+1"("+/"%"+1'%6*(+;+/'%(*!"(Q+'D=)';"$#%&%;L')5'<"',0&=:)5#"'8)'NCCJ')<')*;)&#"80$'
)5#$"')5'=5"')*;)&%)'8)'&"*%#"'8)'5%p0*'8)*8)'&=3"'7)5#"5"'*)';=)8)'7)$'=5"'M":%<%"'8)'
&)$80*-'K0*'7%*%#"5#)*'*)'*%)5#"5')5')<'*=)<0-'K"*'7)5#"5"*'e&0:0')5'=5"'&0:%*"$G"e'*L<0'
;)$:%#)5'"'<"*';)$*05"*'7)$'"'<0*'&)$80*+';)$0'50'7%&)7)$*"g')5')<'%5#)$%0$'<"*'7)5#"5"*'*05'
)*;)]0*'D=)'8)7=)<7)5'"'<0*'&)$80*'*=';$0;%"'%:"F)5K0*'"$#%*#"*';<"5#)"$05'=5'V65(/*(5#5I*+'!+'&+-$'+('+#'."#50"+'&+'(#"#$(+6'&+'(/'1#"6*%K+/*%+
4O#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
$!+&"6*+/*%+'&+'(/"15*+6'(#5!"6*+/"%#51$&"%.'!#'+"+,(#'K+/*%+*#%*+"+#%"I,(+6'&+1%5(#"&+-$'+&*+
('/"%"N+2&+/%*/5*+.5%"%+;+'&+I'%+"+&*(+"!5."&'(+('+1*!I5'%#'+'!+'&+#'."K+*+('"+'&+%'4&'3*+6'+&"+
"1#5I56"6K+5!6$15'!6*+#"&+I'0+$!+1".C5*+6'+/'%(/'1#5I"+;+$!"+/%*C"C&'+.*65451"158!+6'+&"+
1*!(15'!15"+"&+"/%'!6'%+"+1*!1'C5%+"+&*(+1'%6*(+!*+1*.*+/"%#'+6'+&"+!"#$%"&'0"K+(5!*+6'+&"+
1$&#$%"WNk^+y#$"8=&&%L5'8)'<"'"=#0$"z
K0*'"=#0$)*'8)')*#)'#$"E"]0')5M"#%4"5'<"'%:;0*%E%<%8"8'8)'%F="<"$'&05&);#0*'&0:0')<'8)'
&05&%)5&%"')5#$)'":E0*'*)$)*-'f)';$)F=5#"5'*%'<"'&05&%)5&%"'*)'8)*"$$0<<"'8)E%80'"<';$0&)*0'
8)'*0&%"<%4"&%L5'D=)'*=M$%:0*'<0*'I=:"50*+'*%)580';0$'#"5#0'<"'8)'<0*'"5%:"<)*'"<F0'D=)'50'
;08):0*'%5#=%$'5%'%:"F%5"$'0'*%+';0$')<'&05#$"$%0+')*'=5'8%*;0*%#%70'E%0<LF%&0'D=)'#)5):0*')5'
&0:o5-'
Y0'*)'#$"#"'8)'5=)7"*'$);$)*)5#"&%05)*+'*%50'8)'5=)7"*';$^&#%&"*')5'<"*'D=)'M0$:"*'
I=:"5"*'3'50'I=:"5"*'8)'7%8"'*)'$)o5)5+'=5'#%;0'8)'t"$#)'$)<"&%05"<u';$0:07%80')5#$)'
)*;)&%)*-'R%8"';"$#%&=<"$'&057%7%)580'&05'7%8"';"$#%&=<"$')5'<"':%*:"')*M)$"+'*%5')<'0$8)5'
])$^$D=%&0'"<'D=)')*#":0*'"&0*#=:E$"80*-'
.5')<')*&$%#0'D=)'"&0:;"p"')<'#$"E"]0+'<0*'"$#%*#"*';<"5#)"5'<"'*%F=%)5#)'&=)*#%L51'tr:8.*+('+
/$'6'!+."#"%+"!5."&'(+6'+(5.5&"%+1*!(#5#$158!+"+$!*+.5(.*K+#"&+I'0+5!1&$(*+$#5&50"6*(+1*.*+
6*!"!#'(+6'+8%L"!*(K+;+."!#'!'%+"&+.5(.*+#5'./*+&"(+&';'(+6'+&"(+4%*!#'%"(+*+5!1&$(*+A"C&"%+
6'+$!"+4%*!#'%"+*C3'#5I"+Ml'&+"!5."&+1*.*+*C3'#*]M+-$'+6'C'+5./'65%+-$'+&*(+A$."!*(+('+
."#'!+'!#%'+(O]uAA'0')5';"<"E$"*'8)'@-',%":0581'm9"+&O!'"+65I5(*%5"+-$'+5!65-$'+68!6'+."#"%+
('+1*!I5'%#'+'!+"('(5!"#*+;+68!6'+1*.'%+('+#*%!"+1"!5C"&5(.*+6'C'+#%"0"%('+'!+"&Lc!+/$!#*+
6'+&"+'(1"&"+C5*&8L51"+-$'+"(15'!6'+6'(6'+&"(+C"1#'%5"(+A"(#"+&*(+A$."!*(N+j!+1865L*+,#51*+
AN
AA
h/6Yf9Qac>+'VI0:"*-'T.+<**+6'%+m$!(#+T+')5'[6YfV(Zc6>+'E8-'NJO';-'JN'
,%)'[X5*#<)$'I"E)5')%5)'/5<"F)'F)*&I"MM)5'%5'8)$'*%)'8)5'f#"#=*'8)$'?)*=&I)$'#I):"#%*%)$)5+')%5)$*)%#*'
8=$&I'8)5')%F)5)5'8"MX$'70$F)*)I)5)5'c"=:+'"58)$)$*)%#*'8=$&I'8%)'V$)55*&I)%E)-',"*'f&I"=)5'=58'
f)I)5'705'V%)$)5'k%$8'4=:'VI):"+'"<*0'8%)'c)M<)U%05'8)$'Vn#%F\)%#+'8%)'7%)<<)%&I#'*#"##M%58)58)'R)$n58)$=5F'
8)*'?)k=**#*)%5*+'k)55':"5'f&Ik)%5)'5%&I#'"<*'V)%<'8)$'Y"#=$+'*058)$5'8)$'[=<#=$'"=M4=M"**)5'<)$5#Q€KK.c+'9"$*#)5'=58'VcZ9[.K+'c0*):"$%)+'25!+B"$(+4U%+F1AR'5!'+$!6+@'!(1A'!-'R)$<"F'8)$'
?=&II"58<=5F'b"<#I)$'[i5%F+'[i<5'NCCJ+'*-J')5'[6YfV(Zc6>'E8-'NJO+';-HC'y#$"8=&&%L5'8)'<"'"=#0$"z
tb%)'\"55':"5')%5'V%)$'#i#)5+'8"*'705'nI5<%&I)$'?)*&I"MM)5I)%#'k%)':"5'*)<E*#+'7%)<<)%&I#'*0F"$'"<*'
Z$F"5*;)58)$'7)$k)58)#'k=$8)+'=58'8"E)%'8%)'W)*)#4)'8)$'W$)54)'"=M$)&I#')$I"<#)5'08)$'XE)$I"=;#'705'
)%5)$'0E])\#%7)5'W$)54)'yV%)$'"<*'ZE])\#sz'*;$)&I)5+'k)<&I)'8%)'>)5*&I)5'8"705'"EI"<#)5'*0<<+')%5"58)$'4='
#i#)5
#56789:;<<5=6#X#4[
-$'+."%1"+$!"+65(#5!158!+"C(*&$#".'!#'+"%C5#%"%5"+'!#%'+&*(+A$."!*(+;+&"(+6'.?(+'(/'15'(+
!*+#5'!'+*#%*(+4$!6".'!#*(+-$'+'&+.'%*+'L*O(.*NnkY
c0*):"$%)'V$0&\)<'j'9"$*#)5'Qi<<)$+'B"$(+4U%+F1AR'5!'+$!6+@'!(1A'!ka'NCCJ
E*-!#0#%$-)*$"!1$
K0*'"5%:"<)*+'rI"5')5#$"80')5')<'"$#)';"$"':0*#$"$*)'&0:0'$)<%D=%"s'r;"$"'"<)$#"$50*'8)'*='
8)*";"$%&%L5sA`+'r;"$"'I"&)$*)'7%*%E<)*')5'*='8)*;)8%8"s'r)*#^+'"')*#)'$)*;)&#0+')])$&%)580'
)<'"$#)'*='&<^*%&0';";)<'8)'"$#)'1&?(51*+'"<'$)&0F)$')'%5:0$#"<%4"$'"D=)<<0'D=)')*#^'8)*#%5"80'
"')U%*#%$'*L<0')5')<';"*"80s
K"';"=<"#%5"'8)*";"$%&%L5'8)<'"5%:"<'8)'<"'7%8"'8)'<0*'I0:E$)*')*'&05#):;0$^5)"'"'*='
%5&0$;0$"&%L5')5'5=)*#$0*'&)5#$0*'8)'&05#):;<"&%L5+'%57)*#%F"&%L5'3')*#=8%0-'!$%:)$":)5#)'
<0*'"5%:"<)*'8%*)&"80*'*)'%5&0$;0$"5'"'<0*'F"E%5)#)*'8)'&=$%0*%8"8)*-'65"'7)4'&05*#%#=G80*'
<0*'F"E%5)#)*'*)'M0$:"$^5'<"*'&0<)&&%05)*'400<LF%&"*'D=)'8"$^5'<=F"$';0*#)$%0$:)5#)'"'<0*'
:=*)0*'8)'&%)5&%"*'5"#=$"<)*650'8)'<0*':^*'$)50:E$"80*':=*)0*'8)'&%)5&%"*'5"#=$"<)*')5'R%)5"'I"'%5&<=%80')5'<"'
AS
AO
A`
,a/>ZY,+'@"$)8-'2&+#'%1'%+:A5./"!1,+'.*;"p"+')8-',)E"#)'ABBO+';-`B
:"("+/"%"+1'%6*(+;+/'%(*!"(+y#$"8=&&%L5'8)<'"'"=#0$"z
?.cW.c+'@0I5-'[A;+&**\+"#+"!5."&(]K')5'H!5."&K+H!5."K+H!5.$(+'(%5<"58'!0$%'/$#'>=*)=:'NCCP
--'<0*'"5%:"<)*'I"5'8)*";"$)&%80')5')<'o<#%:0'*%F<0---
4U#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
"&#="<%8"8'"5%:"<)*'7%70*')5'*=*'%5*#"<"&%05)*+'3'<)')*'<G&%#0'<<":"$*)'400+'<0'D=)'*=;05)'=5'
F$"5'&":E%0'8)'&05&);&%L5K"'$)<"&%L5'8)'"$#)'3'5"#=$"<)4"')5')<':=*)0')*'*%5'):E"$F0':=3'&0:;<)]"-'.5'=5';$%5&%;%0'
*)'*0*#%)5)'<"'0;%5%L5'8)'D=)')*')<'"$#)'3'*='*=E<%:%8"8'<0'D=)'*)'8)*F"]"'8)'<0'5"#=$"<+';)$0'
#":E%_5'M=5&%05"'"<'%57)$*01')*'<"'&%)5&%"'<"'D=)'*"<)'8);=$"8"'8)<'F"E%5)#)+';"$"'8)]"$'"<'
:=*)0'8)<'"$#)')<'$)*#0'8)')<):)5#0*'D=)'=5'8G"'M=)$05'%5#)$_*'3'&05*#%#=3)$05'<"'&"*"e
:=*)0.5'=5')*#=8%0'D=)'$)"<%4"')5'<"'$)7%*#"'[=5*#M0$=:+'VI0:"*'h"=5*&I%$:AH'*)';$)F=5#"'8)*8)'
&=^580'3';0$'D=_'I"3'"5%:"<)*'7%70*')5')<'"$#)-'
.<'"=#0$'$)"<%4"'=5'$)&0$$%80'I%*#L$%&0';"$#%)580'8)'<0*'F"E%5)#)*'3'&^:"$"*'8)'&=$%0*%8"8)*'
8)<'*-{Raaa+')5')<'D=)':=)*#$"'&L:0')<':=*)0'8)'"$#)'I)$)8"')<';$)*#%F%0'8)'<0*'F"E%5)#)*K0*'F"E%5)#)*'8)'"$#)'3'&=$%0*%8"8)*'*05')<'5"&%:%)5#0'8)'<"'%5*#%#=&%L5'D=)':^*'#"$8)'
F)5)$"$^'<0*'8%M)$)5#)*':=*)0*-'.5'=5';$0&)*0'8)'&05D=%*#"'8)'&*+I5I*K+&0*':=*)0*'8)'
&%)5&%"*'5"#=$"<)*'M=)$05';%05)$0*')5'<"'$)M0$:"'8)'<0*':=*)0*-'K"*'&0<)&&%05)*'5"#=$"<%*#"*'
3'<0*':=*)0*'"*=:%)$05'<"'$);$)*)5#"&%L5'8)'<0'5"#=$"<+'&05'<"'70<=5#"8'8)';)$:"5)&)$'<0'
:^*'&)$&"50'3'M%)<';0*%E<)'"'<0'7%70.5')<'*-{a{'5"&)'<"':=*)"<%4"&%L5'8)'<"'5"#=$"<)4"g'*)';)$M)&&%05"5'<"*'#_&5%&"*'8)'<"'
#"U%8)$:%"'<0'D=)'F)5)$"'=5"'F$"5';0;=<"$%8"8'3'=5'"=F)'8)'<0*':=*)0*'8)'&%)5&%"*'
5"#=$"<)*1'<"'#_&5%&"'#"U%8_$:%&"'<<)7L'"<'_U%#0';0;=<"$'8)'<0*':=*)0*-',)#$^*'8)')*#)'
M)5L:)50')*#^';$)&%*":)5#)')<'8)*)0';0$'<0'7%7%)5#)'3'<"'7%#"<%8"8'8)<':=580'"5%:"<-'
>07%<%8"8+'7%7"&%8"8'3'&)$&"5G"'7%#"<+'*05'<0*'7"<0$)*':^U%:0*'D=)'*=$F)5')5'#0$50'"'<"'
;0;=<"$%4"&%L5'8)'<"*'&%)5&%"*'5"#=$"<)*.5'<0*'F"E%5)#)*'E"$$0&0*'3':"5%)$%*#"*'*)'&0<)&&%05"E"'%58%M)$)5#):)5#)'0E])#0*'8)'<"'
&$)"&%L5'&05')<'o5%&0'0E])#%70'8)'8)*;)$#"$'<"'&=$%0*%8"8'3'"8:%$"&%L51']=5#0'"'0E])#0*'
5"#=$"<)*'&057%7G"5'0E])#0*'$)"<%4"80*';0$')<'I0:E$)g';$)7"<)&G"'<"'*)5*"&%L5'8)'#0#"<%8"8'
*0E$)'<"'*%*#):^#%&"'8)'0$8)5"&%L5-'f%5'):E"$F0')5'"<Fo5':0:)5#0'M=)'0E7%0'D=)'=5'
AH
h/6Yf9Qac>+'VI0:"*-'T.+<**+6'%+m$!(#+T+')5'[6YfV(Zc6>+'E8-'NJO';-'OB
#56789:;<<5=6#X#@W
&0&08$%<0'50'#)5G"'5"8"'D=)'E=*&"$'"<'<"80'8)'=5',=$)$0+'8)')*#"'M0$:"')<':=580'8)<'"$#)'*)'
"%*<L'8)'<0*'0E])#0*'5"#=$"<)*'&05'<0*'D=)'I"EG"'&057%7%80'I"*#"')5#05&)*-'Y0'0E*#"5#)+')5'
"D=)<':0:)5#0')<'%5#)$_*'8)<':=*)0'50')$"')<'"$#)'*%50')<':=580'5"#=$"<,)')*#"'M0$:"'<"'5"#=$"<)4"'*)'8);=$"'3'*)'*);"$"'8)<'"$#)';"$"')])$&)$'8)'5"#=$"<)4"';=$"'3'
)*#"E<)&)$*)'"*G')5')<'M0&0'8)'<"*'5"&%)5#)*'&%)5&%"*'5"#=$"<)*-'
.<'"$#)';0$')<'&05#$"$%0';)$:"5)&)$G"'&05#":%5"80'&05'<"*'$)*#"5#)*';"#$%:05%0*'8)'<0*'
F"E%5)#)*+'&0:0'<"*':05)8"*'0'<0*'0M%&%0*g')*#"'&="<%8"8':)*#%4"'*)';$0<05F"')5')<'*%F<0'{{'
&05'=5"'%5M%5%#"')U;"5*%L5'8)'M0$:"*'IGE$%8"*'&0:0'<"';)$M0$:"5&)+'<"'%5*#"<"&%L5+')#&/*G+'"$#)'3'5"#=$"<)4"'*)'*);"$"5'#$"*'*='&057%7)5&%"')5'<0*'F"E%5)#)*'8)'&=$%0*%8"8)*'8)'<"'
&$)"&%L5K"'M0$:"')5'D=)'<"*'8%M)$)5#)*'&05&);&%05)*'8)<':=580'"$#%&=<"5'%5#)$)*)*'"%*<"80*+')*'=5'
;$0&)*0'I%*#L$%&0e&%)5#GM%&0'%5D=%)#"5#)-'K"'"$F=:)5#"&%L5')5#05&)*'$)*%8G"')5'D=)'
&="<D=%)$"';08G"'8%*M$=#"$'8)'<"*'&0<)&&%05)*'5"#=$"<)*+':%)5#$"*'D=)'8)'<0*'#)*0$0*'
"$#G*#%&0*'8)'<"'"5#%FX)8"8'*L<0'<0'I"&G"5'"<F=50*'8)')<)7"8"'M0$:"&%L5't<"'5=)7"';)8"F0FG"'
8)*&"5*"')5'<"'&05#):;<"&%L5'3'<"*'&%)5&%"*'5"#=$"<)*u-'
,)')*#"'M0$:"'50*':=)*#$"'h"=5*&I%$:+'&L:0'<"'"=#050:G"'8)<'"$#)'50')*'8)E%80'"'=5'
%5#)$_*')*;)&GM%&0')5'_*#)+'*%50':^*'E%)5'"<'&05#$"$%0+'*)'8)E)'"<'&$)&%)5#)'%5#)$_*')5'<"*'
&0<)&&%05)*'5"#=$"<)*'D=)'<"*')<)7"';0$')5&%:"'8)'<"*'&05*#$=&&%05)*'8)<'"$#)-'
.*#"'&$)&%)5#)'5)&)*%8"8'8)'7%*="<%4"$'<0'7%70+'M%5"<:)5#)'*)'*"#%*M"&)')5')<')*#"E<)&%:%)5#0'
8)'<0*'400*'3')5'<"*'&0<)&&%05)*'400<LF%&"*-'
!0$'*=';"$#)')<'"$#)'*)')*M0$4"E"')5'$);$)*)5#"&%05)*'%<=*%05%*#"*'&05'<"*'D=)'&05*)F=%$')<'
<=*#$0'5"#=$"<%*#"-',)M%5%#%7":)5#)'":E0*':=580*'*)'*);"$"5-'
,)*8)')5#05&)*'<"')70<=&%L5'8)'<"*'&%)5&%"*'5"#=$"<)*'I"'*%80'8)#)$:%5"5#)g'_*#"*'*)'I"5'
8)*"$$0<<"80'I"&%"'=5"'50e7%*="<%8"8+'"<)]^580*)'8)'<0*';$);"$"80*'400<LF%&0*-'
,)')*#"'M0$:"'<)'I"'*%80';0*%E<)'"'<"'%5*#%#=&%L5'8)<'"$#)';"*"$'"';$%:)$';<"50+'8)]"580'"'<"*'
&%)5&%"*'5"#=$"<)*')5'<"'*0:E$"')5')<')*&)5"$%0'8)'<0*':=*)0*-'
f%5'):E"$F0')<'5=)70'"$#)'50'I"'*=;)$"80'"<'"$#)'I%*#L$%&0')5'&="5#0'D=)'#)0$G"'8)<'
&050&%:%)5#0+':%)5#$"*'D=)')<';$0F$)*0')5'<"*'&%)5&%"*'5"#=$"<)*'8)]"5'"'<0*'&050&%:%)5#0*'
"5#)$%0$)*'&0:0':)$0';"*0';$)7%0'I%*#L$%&0-'
@4#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
.5'<"'E%0<0FG"'*)'I"':08%M%&"80';0$'&0:;<)#0'<"'&"#)F0$G"'8)'<0'0E])#="<+')*#"E<)&%)580'"*G'
=5"'8%M)$)5&%"'$"8%&"<'&05'<"*'I=:"5%8"8)*-'K"'#"U050:G"'8)'<"*')*;)&%)*'"5%:"<)*')*'"<F0'
3"'*=;)$"80'3')<'%5#)$_*'*)'I"'8)*;<"4"80';0$'&0:;<)#0-'.5'<"'"&#="<%8"8'*05'<"*'
"5%:"&%05)*';0$'0$8)5"80$+'0'<"*'%5*#"<"&%05)*')5'M0$:"#0'8)':"D=)#"+'<0'D=)';=)8)'"#$")$'
"<'7%*%#"5#)-'
K"'5"#=$"<)4"'*L<0';=)8)'*)$'$);$)*)5#"8"+':%)5#$"*'D=)')<'"$#)')*';$)*)5#"80R0<7%)580'"'<"';$)F=5#"'8)<'"=#0$'r8)*8)'&=^580'3';0$'D=_'I"3'"5%:"<)*'7%70*')5'"$#)s+'
_*#)'"M%$:"'D=)'#$"*')<'7)$#%F%50*0'8)*"$$0<<0'8)'<"*'7"5F="$8%"*'"$#G*#%&"*'I"&%"'<"'
"E*#$"&&%L5+'"<)]^580*)'8)<'5"#=$"<%*:0+'*)'8"'"';"$#%$'8)'<0*'"p0*'`B'=5'$)#0$50'I"&%"')<'
%5#)$_*')5'<0'$)"<-'f=;)$"80')<';)$G080'5"#=$"<%*#"'8)<'*-{a{+')*#)'$)507"80'%5#)$_*'7"'8%$)&#0'
"'<0'7%70+'8)':080'D=)']=5#0'"<';$0;%0'&=)$;0'8)<'"$#%*#"'"'#$"7_*'8)'<0*';)$M0:"5&)'3')<'
I";;)5%5F+'M%5"<:)5#)'<0*'"5%:"<)*'7%70*'I"&)5'*=')5#$"8"')5'<"*'"$#)*';<^*#%&"*QF'Y*!#0#%$-)*$"!1$
2!+'&+(NgTg+1*.5'!0"+$!+/%*1'(*+-$'+A'.*(+I5(#*+1$&.5!"%+'!+'&+(Ngg+1*!+'&+1"/5#"&5(.*+
1*%/*%"#5I*K+'!+-$'+&"(+#%"6515*!'(+-$'+.'65"C"!+'!#%'+'&+A*.C%'+;+&"+!"#$%"&'0"+('+A"!+
%*#*NAJ'
,)'I)&I0'*)'I"5'8"80'<"'7=)<#"-'Q):0*';"*"80'8)'#):)$'"'<"'."6%'+!"#$%"&'0"+'*='
%:;$)7%*%E%<%8"8+'*=':%*#)$%0+'8)'*)$'*=*'I%]0*+'"'*)$'*=*';"8$)*g'<"'8%M=*%L5'8)<'*)5#%:%)5#0'8)'
D=)'#)5):0*'<"'&";"&%8"8'8)'6'(#%$5%+'&+/&"!'#"K+8)'D=)'8)#)5)$'3')7%#"$')*)';$0&)*0')*#^'
)5'5=)*#$"*':"50*+')<'*)5#%:%)5#0'/%."L'6*!K+)*')<'o<#%:0'F$"5'<0F$0'8)'<0*':)8%0*')5'<"'
&$)"&%L5'8)'0;%5%L5g'*%'M=_$":0*':^*';$)&%*0*+':)50*')F0&_5#$%&0*+';)5*"$G":0*'D=)+'
&0:0':=&I0+')*#":0*'&":E%"580'<"*'&058%&%05)*'D=)';)$:%#)5'5=)*#$"'7%8"+'<0'D=)'50'
*%F5%M%&"'D=)';08":0*'8)*#$=%$')<';<"5)#"+'*%50'e3'#"<'7)4'5%')*0e'<"'7%8"'I=:"5"'3'8)'"<F=5"*'
)*;)&%)*'"5%:"<)*-'
,%*;05):0*')5'<"'&=<#=$"';0;=<"$'8)'<"'%5M0$:"&%L5'"&)$&"'8)'D=)')*#)';<"5)#"'*)'I%40'
I"E%#"E<)'F$"&%"*'"'=5"';<"F"'"*M%U%"5#)'8)'E"&#)$%"*'D=)'&05'*='"&#%7%8"8'&":E%"$05'<"'
"#:L*M)$"'3';$08=])$05')<'0UGF)50g')5#05&)*+'r&L:0';08):0*';)5*"$'D=)'<"'I)&"#0:E)'
AJ
?.cW.c+'@0I5-'[A;+&**\+"#+"!5."&(]K')5'H!5."&K+H!5."K+H!5.$(+'(%5<"58'!0$%'/$#'>=*)=:'NCCP
#56789:;<<5=6#X#@@
D=)8"'M=)$"'8)<'^:E%#0'8)'<"'"&#%7%8"8'I"E%#="<'8)<';<"5)#"s'r;0$'D=_'50*'%5#)$)*"'#"5#0'
;)5*"$50*'8):%=$F0*s
.*'M^&%<'3'8)'F$"5'%5M<=)5&%"';*%&0<LF%&"'*%:;<%M%&"$')<'M)5L:)50j;$0&)*0'"'<"'%8)"'8)'D=)'
t50*')*#":0*'&"$F"580')<';<"5)#"uN+2')*')*#$"#_F%&0')<'I)&I0'8)'D=)'*)"'5=)*#$"'":"E<)'3'
)70<=&%05"8"'M0$:"'8)'7%8"'0&&%8)5#"<'<0'D=)'#%)5)'<"'&";"&%8"8'8)';$070&"$')*#"'
8)*#$=&&%L5-'.*';08)$-'V)5)$'<"'&";"&%8"8'8)'8)*#$=%$'=5';<"5)#"+')*'#)5)$':=&I0';08)$+'3'"'
<"'7)4')*'=5"')*#$"#)F%"'8)')50$:)';)$7)$*%8"8-'.5'5=)*#$"*'*0&%)8"8)*'0&&%8)5#"<)*+'<"*'
5)&)*%8"8)*'E^*%&"*'I"5'*%80'*0:)#%8"*'"'<"'<LF%&"'8="<'D=)'I"&)'8)'<0'5)&)*"$%0'"<F0'8)'
F$"5';)$7)$*%L5';*%&0<LF%&"-'905'5=)*#$"')*#$=&#=$"'*0&%"<')*#":0*'F)5)$"580'<"':%*)$%"'8)'
0#$0*-'K0*'"<%:)5#0*'8)';$%:)$"'5)&)*%8"8+'<"7"80*+'&0$#"80*'3'):;"D=)#"80*+'*)'
&057%)$#)5')5'7)5)50g'#08"*'5=)*#$"*'&0:08%8"8)*'F)5)$"5'=5"'*0&%)8"8'0E)*"'3')5M)$:"+'
)#&-'.<'*%*#):"'8)'"5F=*#%"'*)'I"'%5*#"<"80'8)M%5%#%7":)5#)-'!$0E"E<):)5#)'50*')*#):0*'
"&0$$"<"580+'1"0"!6*'"'50*0#$0*':%*:0*2&+"$#*6'(#%$1#5I*+"C$(*+6'&+'!#*%!*K+&'3*(+6'+('%+$!"+5!I'!158!+.*6'%!"K+A"+%'/%'('!#"6*+
$!*+6'+&*(+5./$&(*(+C?(51*(+6'+&"+A5(#*%5"+A$."!"N+B"&&"0L*(+/"&'*!#*&8L51*(+.$'(#%"!+
18.*+&"(+n(*15'6"6'(+/%'5!6$(#%5"&'(n+#".C5,!+'d#'%.5!"%*!+'(/'15'(K+6'(#%$;'%*!+A?C5#"#(+
!"#$%"&'(+;+(*1"I"%*!+&*(+15.5'!#*(+6'+($+/%*/5"+'d5(#'!15"+6$%"!#'+.5&'!5*(K+1*.*+/*%+
'3'./&*+&*(+/*&5!'(5*(+;+&*(+5!65*(+".'%51"!*(N+h$'6"+"(O+6'(.*!#"6*+'&+($'b*+
%*$(('"$!5"!*+6'&+!*C&'+("&I"3'(K+#"!+'d#'!656*+'!+&*(+("&*!'(+6'+'!#*!1'(K+;+-$'+"c!+'(+
('!#5.5'!#*+'!+C$'!"+/"%#'+6'+&"+(*15'6"6N
>"%'1'+/%*C"C&'+-$'+A";"+(56*+&"+6'4*%'(#"158!+;+&"+'%*(58!+&*(+/%5!15/"&'(+4"1#*%'(+-$'+A"!+
1*!45L$%"6*+&"+A5(#*%5"+A$."!"-ko
.<'*)$'*0&%"<'3'*=*'0;%5%05)*+'&057%&&%05)*'3'&050&%:%)5#0*'50'*)'&0$$)*;058)5+'50'3"'&05'
<"'&%)5&%"+'<"'&="<';=)8)'D=)'50'*)"'"*)D=%E<)';"$"'#080*+'*%50'5%'*%D=%)$"'&05')<'
&050&%:%)5#0'&%)5#GM%&0'D=)'*)')*M=)$4"')5'8%7=<F"$'*=*'&05&<=*%05)*-'
.<'<=F"$'D=)'&$)0'D=)'I"E%#"')<'"5%:"<'%5M%<#$"80')5')<'"$#)+')*'<"'E$)&I"'D=)'*);"$"'3';05)'
)5'#)5*%L5'"<'I0:E$)'8)'&050&%:%)5#0'8)<'I0:E$)'8)':"5"8"-'
AP
,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,+'.*;"p"+')8-',)E"#)'ABBO
@J#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
2')*'<"'%5D=%)#=8'D=)':)';$070&"'<"'&05#$"8%&&%L5'D=)';)$&%E0')5#$)'&=<#=$"';0;=<"$'3'
&050&%:%)5#0*')$=8%#0*'0'&%)5#GM%&0*+'<0'D=)':)'<<)7"'"'$)"<%4"$')*#"'%57)*#%F"&%L5-
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#@I
A59B9CDE#2#<0*'"5%:"<)*'50'*)'8%M)$)5&%"5-',)'<0'D=)'&0:;"$#%:0*
9"+I56"+'(+$!"+5!1%'OC&'+;+1*./&'3"+5!#'%6'/'!6'!15"+6'+."#'%5"+;+'!'%LO"+'!#%'+.5&&*!'(+6'+
'(/'15'(+4$'%"+;+6'!#%*+6'+!$'(#%"+/%*/5"+/5'&N+2(#*(+"&5'!OL'!"(+6'+&"+#5'%%"+(*!+!$'(#%*(+
/"%5'!#'(K+!$'(#%*(+"!1'(#%*(+;+/"%#'+6'+!*(*#%*(N+2&&*(+A"1'!+4$!15*!"%+&*(+151&*(+6'+&"+
."#'%5"+;+!*(+#%"'!+"L$"+;+"&5.'!#*N+F5!+V&*(+*#%*(W+!*+(*C%'I5I5%O".*(N+)$'(#%*+/"("6*+
(5.C58#51*K+5!#'%"1#5I*+'+5!#'%6'/'!65'!#'K+'(#?+1*!'1#"6*+"+#%"I,(+6'+"L$"(+"!5."6"(ACB$,#!+$+!,#+!"#ZF'Y*!
n+h$,+(*.*(+!*(*#%*(K+-$,+'(+!$'(#%*+1"%?1#'%+(5!*+&"+1*!6'!("158!+6'+&"+
A5(#*%5"+-$'+A'.*(+I5I56*+6'(6'+!$'(#%*+!"15.5'!#*K+"!#'(+6'+!$'(#%*+
!"15.5'!#*+5!1&$(*K+6"6*+-$'+&&'I".*(+1*!+!*(*#%*(+65(/*(515*!'(+
/%'!"#"&'(]+F5!+6$6"+!*+/'!(".*(+.?(+-$'+1*!+$!"+/'-$'b"+/"%#'+6'+
!$'(#%*+/"("6*X+/'%*+'(+1*!+!$'(#%*+/"("6*+#*6*+'!#'%*K+5!1&$56"+!$'(#%"+
1$%I"#$%"+6'+"&."+*%5L5!"&K+1*.*+6'('".*(K+-$'%'.*(K+"1#$".*(NNN+n+
Q)5$%'?)$F*05K+@'.*%5"+;+D56"N+NPCH
K"'&"*"'e)<'*%*#):"'*0<"$e'<"'&05*#$=%:0*'I"&)'O-`BB':%<<05)*'8)'"p0*g':%<':%<<05)*'8)'"p0*'
8)*;=_*'50*'8%:0*'M0$:"'8)'E"&#)$%"*g'M=%:0*':":GM)$0*'I"&)'NSB':%<<05)*'8)'"p0*g'
5=)*#$0'"5&)*#$0')*#"E<)&%L'*=';$0;%0'&<"5'e)*;)&%)e+'8%M)$)5#)'8)<'8)'<0*':050*+'I"&)'J'
:%<<05)*'8)'"p0*'e<0'D=)'$);$)*)5#"'=5'N•'8)'<"'I%*#0$%"'8)'<"'7%8"'&0:;<)]"')5'<"'#%)$$"eg'
<<)7":0*'"58"580'O':%<<05)*'8)'"p0*g'I"&)'A':%<<05)*'8)'"p0*'5"&%L'5=)*#$0'"5&)*#$0'
I=:"50g':)$08)L'<"$F0'#%):;0';0$'‚M$%&"-'Q"&)'`BB-BBB'"p0*'*)'8%E=]"'3"')<'I0:0'*";%)5*'
&05'&"$"&#)$G*#%&"*';<)5":)5#)'I=:"5"*'3'I"&)'NSB-BBB'"p0*'D=)'<"'"5"#0:G"'8)'5=)*#$0*'
&=)$;0*')*';<)5":)5#)':08)$5"g'#$)%5#"':%<'"p0*'8)*;=_*'):;$)58%:0*+'3"'8)M%5%#%7":)5#)'
:08)$50*+')<'&":%50';0$'Z$%)5#)'!$LU%:0'I"&%"'"*%"-'Q"&)'OB-BBB'"p0*'50*')*#"E<)&%:0*'
)5'.=$0;"-
AC
>/cW6Kaf+'K355-'>&"!'#"+(5.C58#51*J+$!+!$'I*+/$!#*+6'+I5(#"+(*C%'+&"+'I*&$158!N+7'C"#'+'?"$&)<05"'ABBA
@S#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
V08"7G"'I"E$G"5'8)';"*"$'&"*%'#$)%5#"':%<'"p0*'I"*#"'D=)'&0:)54^$":0*'"'"(*15"%!*(Ye'&05'
)*;)&%)*'"5%:"<)*'3'7)F)#"<)*K"*')8"8)*'8)<'I0:E$)'*05'#"5':%*#)$%0*"*'&0:0')<';$0;%0'I0:E$)'3'#080'<0'D=)'*0E$)'_<'
&050&):0*-'9"E)';)8%$'$)*;05*"E%<%8"8)*'"'<"'&%)5&%"';0$'<"'%<=*%L5'T')<'#$":;"5#0]0e'8)'*='
&";"&%8"8';"$"'$)7)<"$'7)$8"8)*'0E])#%7"*'3')*;)&GM%&"*-'.5'5=)*#$0*'&0<)F%0*'0&&%8)5#"<)*'
I):0*'$)&%E%80'<"'M_$$)"'M0$:"&%L5'D=)'50*'%:;%8)'&$))$'#080'"D=)<<0'D=)'50'I"'*%80'
7"<%8"80';0$')<':_#080'&%)5#GM%&0g'*%5'):E"$F0+'"'<"'7%*#"'8)'&L:0'*)'*=&)8)5'5=)*#$0*'
&050&%:%)5#0*+'8)'&L:0'<0'8)':"p"5"'8)*:%)5#)'<0'8)'I03+'#"<'7)4'8)E):0*'$)7%*"$'
5=)*#$0*'*%*#):"*'8)'&$))5&%"*'3'8)*";)F0*Q):0*'#"$8"80'O-`BB':%<<05)*'8)'"p0*')5'*)$'<0'D=)'*0:0*g'3'"I0$"'<0'D=)'*0:0*')*'#080'
<0'D=)'I"'*=&)8%80')5')*0*'O-`BB':%<<05)*'8)'"p0*+'"<'%F="<'D=)'=5'M)#0'*)'M0$:"'
&=<#=$"<:)5#)'3"'8)*8)')<'7%)5#$)'8)'*=':"8$)+'"*0&%"580';=<*%05)*'&05'*05%80*'):0#%70*+'
&05'7)<0&%8"8)*+'&05'#0$*%05)*+'&05'#):;)$"#=$"*+'-r"<F=5"'7)4'I"*';)5*"80'&=^5#0'$=%80'8)E)'I"&)$')*#)';<"5)#"'F%$"580s'
r3')<'$=%80'8)'<"'*"5F$)'M<=3)580'"'#08"'7)<0&%8"8';0$'<"*'7)5"*s'#080')<<0'50*'&05*#%#=3)'3'
8)#)$:%5"+';0$':^*'D=)'50'*)":0*'&05*&%)5#)*-
SB
)7%#0'<"';"<"E$"'6*.'(#51"%+;=)*'&05*%8)$0'D=)'<0*'"5%:"<)*'6*.'(#51"6*('<0')*#^5+'50';0$'=5"'"&&%L5'
%:;0*%#%7"'8)<'I0:E$)+'*%50';0$'=5"'"&&%L5'&05]=5#"'8)'":E0*-'
.*#"'7%*%L5')*#^'$);$)*)5#"8"';0$')*#=8%0*';"<)0400<LF%&0*+'D=)'I"E<"5'8)'=5"'(*15"&50"158!+#%"!(M
'(/'15'(X+8)'&L:0'<0*'<0E0*'*)'"&)$&"$05'&"8"'7)4':^*'"'<0*'I=:"50*'"#$"G80*';0$'*=*'8)*;)$8%&%0*+'"=#0e
80:)*#%&^580*)'8)')*#"'M0$:"+'3';)$:%#%)580'<"'%5#)$7)5&%L5'8)<'I0:E$)')5'*='$);$08=&&%L5'3')70<=&%L5-'
.*#)'&05&);#0')*#^'$)&0F%80')5')<'#_$:%50'!"#$%'1$&#$%'('&05')<'D=)'Q"$"k"3'8)*%F5"'<"'%:;<0*%L5'8)<'
8="<%*:0'Y"#=$"<)4"e9=<#=$"-'7)$1
Q"$"k"3',-+'=A'+1*./"!5*!+(/'15'(+."!54'(#*N+7*L(K+>'*/&'+"!6+F5L!5451"!#+f#A'%!'((+'9I%&"F0'ABBSQ"$"k"3',-+'[A'!+(/'15'(+.''#+'>%55)*0#"jK05805'ABBP-
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#@?
A&""#]&F"$>#)*+(,+-$,+'(+"-$'&&*+"+&*+-$'+.'+/"%'01*
?%<<'R%0<"-'T+6*!p#+\!*R+RA"#+5#+5(+T+".+&5\'+SN'R%8)0'PC':%5-'NCPH
T+6*!p#+\!*R+RA"#+5#+5(+T+".+&5\'+P)*+(,+-$,+'(+"-$'&&*+"+&*+-$'+.'+/"%'01*Q+)*'=5"';%)4"'8)'
7G8)0'8)'PC':%5=#0*+'D=)'$08L')5'8%M)$)5#)*'<=F"$)*'"'<0'<"$F0'8)'80*'"p0*+')5'<0*'D=)'M=)'
"$#%*#"'$)*%8)5#)')5'<)'h00'8)'f"5',%)F0-'
.5')*#)'#$"E"]0'*)'*=&)8)5'%:^F)5)*'8)<':=580'"&0:;"p"8"*'"'7)&)*';0$':o*%&"'8)'
8%M)$)5#)*'<=F"$)*+'"'7)&)*';0$')<'*05%80'":E%)5#)+'"'7)&)*';0'=5'*%<)5&%0'#0#"<+'*=E:"$%501
HL$"K+&"+1?."%"+L5%"6"K+1$'I"K+L*#"(+6'+"L$"K+'(#"&"1#5#"(K+.*(1"(+(*C%'+"!5."&+'!+
6'(1*./*(5158!K+/"3"%5#*(K+?%C*&'(K+/%"6'%"K+C5(*!#'(+/"(#"!6*+6'+6O"K+C5(*!#'(+/"(#"!6*+6'+
!*1A'K+#*%.'!#"K+C5(*!#'(+*%5!"!6*+;+1*.5'!6*K+'&+*3*+6'&+C5(*!#'K+($+."!6OC$&"+
."(#51"!6*K+$!+1?!#"%*+1*!+4$'L*+'!+'&+."%K+/'(1"6*%'(K+$!+*3*+6'+/'0K+$!"+.*%'!"K+
/?3"%*K+?L$5&"K+'&+*3*K+/'&O1"!*K+'&+*3*K+&"+&'1A$0"K+'&+*3*+6'+&"+&'1A$0"K+'&+#%O/*6'+%'4&'3"6*+'!+
'&+*3*+6'+&"+&'1A$0"K+'&+A*.C%'+%'4&'3"6*+'!+,&K+S5&&+D5*&"+#%"C"3"!6*+'!+($+'(1%5#*%5*K+&';'!6*K+
'&+."$&&56*+6'+$!+L"#*K+'&+#51M#"1+6'&+%'&*3K+'&+(*!56*+6'+&"(+A*3"(+6'&+&5C%*+/"("!6*K+$!+&5C%*+
(*C%'+'&+1'%'C%*K+$!+A$'I*K+3*;"(K+$!+1"%"1*&K+'&+&"6%56*+6'+$!+/'%%*K+$!+"/"%"#*+6'+IO6'*K+
1$"6'%!*K+5."L'!+;+.c(51"+6'+$!+%5#$"&+A5!6cK+1*15!"K+"L$"+6'&+L%54*K+,&+%'4&'3"6*+'!+'&+L%54*K+
SN
)*+(,+-$,+'(+"-$'&&*+"+&*+-$'+.'+/"%'01*+y#$"8=&&%L5'8)<'"'"=#0$"z
@O#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
'&+(*!56*+6'+$!+C*&5+(*C%'+&"+.'("K+,&+'(1%5C'+;+C'C'+"L$"K+($+1"%"+%'4&'3"6"+'!+6*(+L*#"(K+
*3*K+I'&"K+.'1A"+;+&&"."K+C*6'L8!+1*!+/'(1"6*K+/"!K+1'C*&&"(K+I5!*K+,&+1'!"!6*K+'&+(*!56*+
6'+&*(+1$C5'%#*(K+&"+%'(/5%"158!K+'&+(*!56*+&"+#%"L"%K+&"+'1&*(58!+6'+$!+/*&&*+6'&+A$'I*K+!*1A'K+
5!4%"%%*3*(K+1*;*#'+1*%%5'!6*+"+1?."%"+&'!#"K+/'%%*(+'!+&$1'(+'(#%*C*(18/51"(K+(*!56*+6'+$!+
C"3*K+C*6"K+#*%.'!#"K+%O*K+1*%"08!K+#*%.'!#"K+"1156'!#'K+1*1A'K+1*&*%'(K+&$0K+"L$"K+4$'L*K+
C*(-$'K+&"L*(K+.*!#"b"(K+'(-$'&'#*(K+"!5."&'(K+4$'L*K+/'1'(K+/%"6'%"(K+15$6"6K+.$'%#'+
"!5."&K+1&5."K+1*&*%'(K+&$0K+1"%%'#'%"K+"L$"K+/"&*."(K+CcA*(K+%5#$"&+A5!6cK+/"&5&&*(+
"#%"I'("!6*+&"+/5'&K+4$'L*+'!+&"(+."!*(K+'!+&"+C*1"K+"."%5&&*K+!"%"!3"K+1*%*!"(+6'+4&*%'(K+
1'!50"(K+"(1$"(K+.$3'%'(K+!5b*(K+A*.C%'(K+'./"#O"K+"1*./"b".5'!#*K+"L$"K+/'0K+(*!56*+6'&+
"L$"K+(5&'!15*K+(*!56*+6'&+4*&&"3'K+.*(1"(+1*.'!+/'(1"6*+.$'%#*K+/?3"%*(+1*.'!+/'(1"6*+
.$'%#*K+"A*%"+'&+/'(1"6*+'(+$!"+%"(/"NNN
?%<<'R%0<"'I"E<"')5')*#)'#$"E"]0'8)'<"')D=%7"<)5&%"'8)'<"*'M0$:"*'3'8)'5=)*#$"'"8:%$"&%L5'"<'
&05#):;<"$<"*1')<'^$E0<+')<'$G0+'5=)*#$"*'7)5"*+'0'<"*'5)=$05"*')5'=5'7G8)0':_8%&0-'.<'#$"E"]0'
:=)*#$"'"'#$"7_*'8)'=5'&05#%5=0'8)'%:^F)5)*'3'*05%80''&+.$!6*+1*!#'!56*+'!+$!*+.5(.*+;+
$!*+.5(.*+%'4&'3"6*+'!+'&+.$!6*-Yk'K"*'%:^F)5)*'&0:%)54"5':0*#$"580')<'&0:;0$#":%)5#0'
5"#=$"<'8)'<0*'"5%:"<)*'3'#)$:%5"5'&05')*&)5"*'8)<'&0:;0$#":%)5#0'80:_*#%&0'8)<'I0:E$)'
%5#)<)&#="<1')<';$0;%0'?%<<'R%0<"'#$"E"]"580'e<)3)580+')*&$%E%)580+')8%#"580'7%8)0+'&0:%)580e-'
f05'%:^F)5)*'*)&=)5&%"<)*+'8%$)&#"*g'&0:0'=5'E0$$"80$'0'&="8)$50'8)'50#"*+')5'E$=#0+'*%5'
";)5"*'<=*#$0'#)&50<LF%&0+'";"$)5#):)5#)'*%5'=5"':)8%"&%L5';<^*#%&"'0'80&=:)5#"<K"'M0$:"')5'D=)')*#^5'$)F%*#$"8"*'<"*'%:^F)5)*+'#"<'7)4'*)';=)8"'&0:;"$"$'"<'$)F%*#$0'D=)'
$)"<%4"'"<F=%)5'D=)'$)&0F)'%5M0$:"&%L5';0$';$%:)$"'7)4+'=5';$%:)$':=)*#$)0'*%5':)8%"&%L5+'
V"<'7)4'*):)]"5#)'"'<"'0E])#%7%8"8'8)'=5'=5'5%p0+'8)]"580'D=)'<"*'%:^F)5)*'I"E%#)5'*='
&";"&%8"8'0E*)$7"80$"+'*%5';$0&)*"$<"*+'M<=3)580'&05')<<"*'3'8)]"580'D=)'*)'*=&)8"5'3'
"&=:=<)5')5')<')5#)58%:%)5#090:0'%58%&"'R%0<"+')<'#$"E"]0')*'=5"'%57)*#%F"&%L5';)$*05"<'8)'<0*')*#"80*'%5#)$50*'3'<"*'
&05)U%05)*'&05'<"'&05&%)5&%"'"5%:"<'D=)'#080*';0*)):0*-'
R%0<"';<"5#)"'&05')*#)'7G8)0'<"';$)F=5#"'&=3"'$)*;=)*#"';"$)&)'I"E)$50*'<<)7"80'"'=5"'
SA
=A'+R*%&6+R5#A5!+#A'+('&4K+"!6+#A'+('&4+%'4&'1#'6+5!+!"#$%'N
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#@[
*);"$"&%L5'$"8%&"<')5')<':=5801'r,L58)')5&"]"')<'8)*)0'8)'&050&%:%)5#0'3'#$"5*&)58)5&%"'
)*;%$%#="<')5')<':=580'MG*%&0'3'E%0<LF%&0s-SS'6*"580'*='&=)$;0'&0:0'$)M)$)5#)+'R%0<"'8%&)'
#$"4"$'<"'<G5)"'D=)'*);"$"')<'%5*#%5#0'8)<'%5#)<)&#0')5')*#)'#$"E"]0?%<<'R%0<"')<"E0$"')5')<'"$#)'=5'8%*&=$*0'E=8%*#"'8)<':=580-'65"'&05&%)5&%"'8)'&"$^&#)$'
:G*#%&0+'*%5#05%4"8"'&05'<"*'M=)$4"*'5"#=$"<)*+'"<F0'D=)';0&0*'"$#%*#"*'0&&%8)5#"<)*'
$)&050&%80*')5')<':=580'8)<'"$#)'&05#):;0$^5)0'I"5'<0F$"80'I"&)$'7"<)$-'Z&&%8)5#)'I"'
F=*#"80'8)'#$"E"]"$'*0E$)'E"*)*'<LF%&"*+'*0E$)'7"<0$)*'&%)5#GM%&0*+'3'*%'E%)5'"<'"$#)'*)'<)'
;)$:%#)'"<F=5"*'&51'!15"(+'<0'8%*&=$*%70'8)'&"$^&#)$';*)=80&%)5#GM%&0'I"'&0<05%4"80')<'$)%50'
8)<';)5*":%)5#0'"$#G*#%&0')5')<'*%F<0'{{-'
K"';0*%&%L5'8)'R%0<"')5#$)'7"<0$)*'8)'&"$^&#)$':G*#%&0'3'#_&5%&"*'8)'<"':^U%:"'"&#="<%8"8'
#)&50<LF%&"+'F)5)$"'<"'#)5*%L5'D=)'<)')*';$0;%"-'
K0*'"E0$GF)5)*'"=*#$"<%"50*'%57)5#"$05')<'E00:)$"5F+')<'&="<')*'=5'0E])#0'"<#":)5#)'
#)&50<LF%&0-'65'"$#G&=<0')5'<"'$)7%*#"'.<'!"*)"5#)';<"5#)"E"'D=)'"<'8)*"$$0<<"$')*#)'0E])#0+'
<0*'"E0$GF)5)*')*#=7%)$05'"'<"*';=)$#"*'8)<'8)*"$$0<<0'#)&50<LF%&0'D=)'I):0*'$)"<%4"80')5'
0&&%8)5#)-'f%5'):E"$F0+')<<0*'8)&%8%)$05'#$"5*%#"$'0#$0'&":%501')<'8)'<"*'#_&5%&"*'8)<')*;G$%#=-'
,)')*#"'M0$:"':"5)]"5';0*%E%<%8"8)*'&0:0'<"'#)<);"#G"'3'0#$"*'&";"&%8"8)*'#)&50<LF%&"*'
%5:"#)$%"<)*+'8)<')*;G$%#=+':%)5#$"*')5'0&&%8)5#)'*)'8)*"$$0<<"'<"'#)&50<0FG"')5')<'^:E%#0'8)'
<0':"#)$%"<-'
.5')*#"'*)5&%<<"'"$F=:)5#"&%L5+';08):0*')5#$)7)$'=5'"#%*E0'8)'<"')D=%7"<)5&%"'8)'<0'$)"<')5'
*=*'80*'7)$#%)5#)*1'<0':"#)$%"<'3'<0'%5:"#)$%"<+'<0'50$:"<'3'<0';"$"50$:"<+'<0'&0$;L$)0'3'<0'
)*;%$%#="<.<'=*0'D=)'R%0<"'I"'I)&I0'8)<'7%8)0')5'<0*'o<#%:0*'"p0*'I"'":;<%"80')<'$)&0$$%80')5#$)'
":E0*')U#$):0*1')<'8)*"$$0<<0'8)'<"'%:"F)5e7%8)0'"<'5%7)<'8)'<"':^*'"<#"'#)&50<0FG"'"<'
*)$7%&%0'8)'=5"'F$"5'#)5*%L5')*;%$%#="<-',)')*#"'M0$:"')<'#$"E"]0'8)'R%0<"'&05)&#"'&05'<"*'
E"*)*'8)'<"'):0&%L5':^*';$0M=58"-
SS
H!6+RA'%'+6*'(+#A'+6'(5%'+4*%+\!*R&'6L'+"!6+(/5%5#$"&+#%"!(1'!6'!1'+45#+5!#*+#A'+/A;(51"&+"!6+C5*&*L51"&+
R*%&6]
@U#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
f='#$"E"]0'*)';=)8)'&"<%M%&"$+'*)Fo5'W)5)'20=5FE<008SO+'6'+'(#%$1#$%"&5(.*+.'#"4O(51*K+'!+'&+
-$'+5."L'!+;+(*!56*+#%"!(1$%%'!+6'+4*%."+!*+I'%C"&K+'d/&*%"!6*+&"+!"#$%"&'0"+6'&+.'65*+
4*#*L%?451*K+&*(+'(/&'!6*%'(+6'&+.$!6*+!"#$%"&K+&"(+1"#'L*%O"(+6'+&"+/'%1'/158!+;+&"+I56"+
5!#'%5*%+1*L!5#5I"+;+'(/5%5#$"&+6'&+#'(#5L*N+:*./$'(#*+6'+.c&#5/&'(+%'(*!"!15"(K+1"6"+!5I'&+6'+
(5L!5451"6*+'!#%'&"0"6*+1*!+*#%*(+#"!#*(K+'(#"(+V1"!15*!'(+I5($"&'(WK+"+654'%'!15"+6'&+#'65*(*+
'(#%$1#$%"&5(.*+656?1#51*K+!*(+/%*/*%15*!"!+&"+'&'L"!#'+.c(51"+6'+&"+I*0+6'&+/*'#"N
f%5'8=8"+')*'=5'#$"E"]0')5')<'D=)';08):0*'&0:;$)58)$')<'"<&"5&)'8)<';)5*":%)5#0'7%*="<+'3'
<"'M0$:"')5'D=)+':^*'"<<^'8)<'<)5F="])+'*)'"$#%&=<"'<"'5"$$"#%7"'8)'M0$:"';)$&);#%7"'3'
&05&);#="<-'90:0'<0*')])$&%&%0*':"#):^#%&0*'8)'%5#)<%F)5&%"+'R%0<"'0M$)&)'=5':"#)$%"<')5')<'
D=)')5&05#$"$'*)&=)5&%"*+'8%*&)$5%$':08)<0*+')*#"E<)&)$'&05)U%05)*-'
9"+6$%"158!+'(+"+&"+1*!15'!15"+&*+-$'+&"+&$0+'(+"+&*(+*3*(N+
2&+#5'./*+6'+'(#*(+#%"C"3*(+'(+'&+#5'./*+'d#'!656*K+.'65#"#5I*K+'&+6'+&*(+($'b*(K+-$'+!*(+
/'%.5#'+/%*;'1#"%+!$'(#%"+5."L5!"158!+'!+&"(+('1$'!15"(+6'+5.?L'!'(N+F8&*+"(O+/$'6'!+&"(+
('!("15*!'(+1*!I'%#5%('+'!+/'!(".5'!#*+;+&"+/'%1'/158!+('%+$!+"1#*+6'+5!#'&5L'!15"N+F8&*+
"(O+'&+/%*1'(*+6'+.5%"%+('+1*!I5'%#'+'!+"1#*+1%'"#5I*N+q"+!*+(*.*(+VI*;'$%(W+(5!*+-$'+
'd/'%5.'!#".*(+'!+/%5.'%"+/'%(*!"X+6'I'!5.*(+!"%%"#5I"N
2&+"%#'+15!'."#*L%?451*+!*+'(+$!+"%#'+I5($"&K+(5!*+$!+"%#'+6'+#5'./*K+!*+.5%".*(+5.?L'!'(+
(5!*+($1'(*(N+2&+/%*;'1#*+6'+D5*&"+'(+$!"+5!I'(#5L"158!+/%*4$!6"+6'+&"+."!5/$&"158!+
#'./*%"&+6'+&"+5."L'!+;+'&+(*!56*+1*!+&"+-$'+"&+"#'!158!+6'&+#'(#5L*+'(+1*%'*L%"45"6"+;+('+
/%*6$1'+'&+(5L!5451"6*+'!+'&+'(/"15*+15!'."#*L%?451*NS`
SO
2Z6YW?KZZ,'+'W)5)-'@2=H>BqFT:H9+F=Gj:=jGH9TF@K+=A'+D56'*#"/'(+*4+S5&&+D5*&"-'>%<<)55%=:'(%<:'
@0=$5"<'yY)k'20$\z'50-'ABjAN'yM"<<jk%5#)$'NCPPTPCz+';;-'PBTNNO-'(%$*#';=E<%*I)8'=58)$'*":)'#%#<)'M0$'#I)'<"*)$e
8%*&')8%#%05'0M'?%<<'R%0<"1'f)<)&#)8'b0$\*-'K0*'/5F)<)*1'R03"F)$+'NCPJ-'
f)';=)8)'8)*&"$F"$')5';8M'8)1'I##;1jjkkk-7"*=<\"-0$Fj"$&I%7)j!=E<%&"#%05*j(0$:"##)8!=E<%&"#%05*jR%0<"-;8M
S`
G8):-
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#JW
A&F"FM3$#W>#Q&,-F*&$#+!#J#Y$/-!*&$,'T'8)'&L:0'):;)4L'#080
9"+#"d*!*.O"+6'+15!1*+%'5!*(+;+6*(+/"%#'(+P/%*1"%5*#"(+4%'!#'+"+'$1"%5*#"(+
r1,&$&"(+(5!+!c1&'*K+1,&$&"(+1*!+!c1&'*sQ+%'4&'3"+45'&.'!#'+&"+A5(#*%5"+
'I*&$#5I"N+>*%+'(*+'(+5!45!5#".'!#'+.'3*%+-$'+&"+I5'3"+;+1*!4$("+651*#*.5"+
/&"!#"+E+"!5."&N+9"(+C"1#'%5"(+'I*&$15*!"%*!+'!+/%5.'%+&$L"%NYt
V08"*'<"*'&_<=<"*'D=)'I"3')5')<':=580'8)*&%)58)5'8)'=5"'*0<"'&_<=<"-'VZ,/f-'
($"5&%*'9$%&\+'D=%)5']=5#0'"'@":)*'b"#*05'8)*&=E$%L')5'NC`S'<"'80E<)'I_<%&)'8)<'/,Y+'8%]0'
D=)')$"';0*%E<)')5#)58)$'3'8)8=&%$'8)'M0$:"'&%)5#GM%&"'<"'M0$:"&%L5'8)'<0*'&=)$;0*'7%70*')5'
=5'7%"])':%&$0*&L;%&0'I"*#"'<<)F"$'"'<"';$%:)$"'&_<=<"+';)$0'D=)')*'%:;0*%E<)')U;<%&"$'<"'
F)5)$"&%L5'8)')*"';$%:)$"'&_<=<"-'/'<"'<=4'8)')*#"'0E*)$7"&%L5'8)*"$$0<<L'<"'#)0$G"'8)<'
>"!'(/'%.5"+75%5L56*+'D=)'"M%$:"'D=)'<"';$%:)$"'&_<=<"'#%)5)'=5"';$0&)8)5&%"')U#$"e
#)$$)*#$)-SJ
:*!#"!6*+1*!+#%'(+/%*/5'6"6'(J+#%"6$15%K+*%L"!50"%+;+/%*6$15%+'!'%LO"X+$!+I'%C*J+$!5%K+;+$!+
&'!L$"3'J+'&+6'+&"+-$O.51"+6'&+1"%C*!*K+&"(+C"1#'%5"(+65'%*!+'&+/"(*+.?(+"C5(."&+-$'+('+
A";"+6"6*+'!+'&+6'("%%*&&*+6'+&"+I56"N
2(#"(+(*!+!$'(#%"(+#%'(+/%*L'!5#*%"(J+$!"+/%*1"%5*#"+-$'+('+6'651"+"+#%"!(1%5C5%+;+#%"6$15%+'&+
H7)+"+/%*#'O!"(X+*#%"+-$'+.'#"C*&50"K+(5!#'#50"+;+65L5'%'+.*&,1$&"(X+*#%"+-$'+%'(/5%"+
*dOL'!*+/"%"+/%*6$15%+'!'%LO"N+
VB"C&"!6*W+'&+&'!L$"3'+6'+&"+-$O.51"K+&"(+C"1#'%5"(+('+65I'%(5451"%*!+;+A"C&"%*!+&"(+$!"(+1*!+
&"(+*#%"(+"+'(1"&"+L&*C"&N+H-$'&&"(+-$'+!"6"C"!+('+$!5'%*!+"+"-$'&&"(+-$'+6'L%"6"C"!+
L&$1*("+;+6'+'(#"+."!'%"+*C#$I5'%*!+'!'%LO"+/"%"+!"6"%N+9"+"(*15"158!+6'+!"6"6*%"(+;+
6'L%"6"6*%"(+6'+L&$1*("+1*!6$3*+"+&"(+/%*#5(#"(K+&*(+/%5.'%*(+('%'(+1*!+!c.'%*+6*C&'+6'+
1%*.*(*."(+-$'+'I*&$15*!"%*!NSP
)$'(#%"+'('!15"+1*./$'(#"+;+(5.C5*L'!,#51"+'(+.$1A*+.?(+"!#5L$"+-$'+&"+%'15'!#'+
5!!*I"158!+"+-$'+&&".".*(+5!65I56$*+A$."!*N+)$'(#%*+4$'%#'+('!#56*+6'+&"+654'%'!15"+1*!+
SH
SJ
SP
>/cW6Kaf+'K355-'>&"!'#"+(5.C58#51*J+$!+!$'I*+/$!#*+6'+I5(#"+(*C%'+&"+'I*&$158!N+7'C"#'+'?"$&)<05"'ABBA
f/>!.,cZ+'@"7%)$-'7'1*!(#%$;'!6*+"+7"%R5!+'9$G#%&"'ABBA
>/cW6Kaf+'K355-'>&"!'#"+(5.C58#51*J+$!+!$'I*+/$!#*+6'+I5(#"+(*C%'+&"+'I*&$158!N+7'C"#'+'?"$&)<05"'ABBA'
J4#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
1$"&-$5'%+*#%"+4*%."+6'+I56"K+!$'(#%*+('!#56*+6'+($/'%5*%56"6+1*.*+'(/'15'K+'(+$!"+5&$(58!K+
$!+6'&5%5*+6'+L%"!6'0"-SC
A&F"FM3$#4>#B$#G&"$#+!#M!%!,#QF^'T'0'8)'<0'D=)'50*'=5)'"'#080*
6$E%<"#)$%"')*')<'50:E$)'8)<';$%:)$'"5%:"<'E%<"#)$"<'8)'<"'I%*#0$%"'8)'<"'#%)$$"+'=5"')*;)&%)'8)'
F=*"50'D=)'I"E%#"'<"'#%)$$"'8)*8)'I"&)'HBB':%<<05)*'8)'"p0*-'.*'5=)*#$0'"5&)*#$0-'!$)*)5#"'
#$)*'8)'<"*'&";"*'F)$:%5"<)*OB'8)'#080*'<0*'):E$%05)*'"&#="<)*+'*%:)#$G"'E%<"#)$"<+'&=)$;0'
8%7%8%80+'"<':)50*+')5'&"E)4"+'#$05&0'3'"E80:)5+'=5"'&=)$8"'5)$7%0*"'&)5#$"<+'=5'*%*#):"'
8%F)*#%70'D=)'"#$"7%)*"')<'&=)$;0'8)'E0&"'"'"50'3'<0*'*%*#):"*'E^*%&0*';"$"')*;)&%M%&"$'<0*'
0]0*+'<"*')U#$):%8"8)*'3'7"$%0*'L$F"50*'%5#)$50*.*#)'*)$'=5%&)<=<"$+'D=)';$)*)5#"'3"'<"'M%<"'Q0U+'$)o5)'#08"*'<"*'&="<%8"8)*';"$"'<"'
F)5)$"&%L5'&^:E$%&"ON'8)'#08"*'<"*')*;)&%)*-'
/5#)*'8)'6$E%<"#)$%"+'<"'M%<"'Q0U';$)*)5#"E"'=5'*0<0'F)5')5'<0*'0$F"5%*:0*'8)'*%:)#$G"'$"8%"<+'
&0:0'*05'<"*'I%8$"*'3'<"*':)8=*"*+'3'"';"$#%$'8)'_*#)+';$)*)5#"'3"'<0*'8%)4'F)5)*'D=)'<0'
&05*#%#=3)5g'_*#0*'8%)4'F)5)*')*#^5';$)*)5#)*+'*05'%8_5#%&0*'3'*)'8)8%&"5'"'<0':%*:0')5'
#080*'<0*'"5%:"<)*1'"'"&#%7"$'<0*'&0$$)*;058%)5#)*'F)5)*';"$"'&05*#$=%$'<"*';"$#)*'8)'=5'
&=)$;0'"'<0'<"$F0'8)'=5')])6$E%<"#)$%"'&=)5#"'3"'&05'=5"'M%<"'Q0U'8)'8%)4'F)5)*'D=)';)$:"5)&)$^'%5"<#)$"8"'I"*#"'I03'
yHBB':%<<05)*'8)'"p0*z-OA
K0*'F)5)*'8)')*#"'M%<"'*05'%5#)$&":E%"E<)*')5#$)'#080*'<0*'"5%:"<)*'3'*='"&#%7"&%L5'8)*8)'<"'
M%<"'Q0U'"'#$"7_*'8)'*=*';"$#)*'$)F=<"80$"*'8)')*#)';$0&)*0')*'%8_5#%&"')5'#080*'<0*'
"5%:"<)*g'*%'*)'%:;<"5#"'=5'F)5'8)'<"'M%<"'Q0U'8)'=5"':0*&"+'$)*;05*"E<)'8)'&05*#$=%$')<'
"E80:)5+')5'=5'I=:"50+'_*#)'&05*#$=%$^'*='"E80:)5'8)'I=:"50-'K0':%*:0'&05'<0*'8):^*'
SC
OB
ON
OA
>/cW6Kaf+'K355-'>&"!'#"+(5.C58#51*J+$!+!$'I*+/$!#*+6'+I5(#"+(*C%'+&"+'I*&$158!N+7'C"#'+'?"$&)<05"'ABBA
K0*'):E$%05)*'8)'&"*%'#080*'<0*'"5%:"<)*'"#$"7%)*"5':=3';$05#0'=5"'M"*)'&05'M0$:"'8)')*M)$"'I=)&"'
<<":"8"'F^*#$=<"-'K"'*=;)$M%&%)'8)'<"')*M)$"'#%)5)'#$)*'&";"*-'9"8"'=5"'8)')<<"*'*%):;$)'8"'<=F"$+')5'#080*'
)*0*'"5%:"<)*'"'<0*':%*:0*'#%;0*'8)'#)]%80*'y)&#08)$:0+':)*08)$:0'3')5808)$:01';%)<'3'*%*#):"'5)$7%0*0+'
:o*&=<0*'3'#=E0'8%F)*#%70'3'L$F"50*'"*0&%"80*'$)*;)&#%7":)5#)z
8)'eHBB'"'e`CB':%<<05)*'"p0*
f/>!.,cZ+'@"7%)$-'7'1*!(#%$;'!6*+"+7"%R5!+'.*;"p"+')8-'9$G#%&"'ABBA
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#J@
F)5)*'$)*;05*"E<)*'8)'&"E)4"'3')U#$):%8"8)*-'.5'&="<D=%)$')*;)&%)-'f05'<0*'])M)*+'<0*'D=)'
8"5'<"*'L$8)5)*'"'<0*'*=&)*%70*'F)5)*'5)&)*"$%0*';"$"'&05*#$=%$'8%&I"*';"$#)*-'
7ZF'$,#C*_%G!"+>#2!1"3'(+4"&&56*(
VI0:"*'W$X5M)<8-'@5(45#(aY+'NCPC
.<'#$"E"]0'8)'VI0:"*'W$X5M)<8'D=)':)4&<"';"$#)*'8)'8%M)$)5#)*'"5%:"<)*')5'=5':%*:0'
&=)$;0+';"$)&)'%<=*#$"$')<'&"$^&#)$'#$"5*e)*;)&%)'8)'<"'M%<"'Q0U-'K0*'<<":"'.5(45#(+y"<F0'"*G'
&0:0''!1"3'(+4"&&56*(z-'f05'&$)"&%05)*'D=)';"$)&)5';<"5#)"$'"<F0';)$M)&#":)5#)';0*%E<)+'
"5%:"<)*'&0:;=)*#0*'"';"$#%$'8)'8%M)$)5#)*'"5%:"<)*'3'*%5'):E"$F0'&0:;<)#":)5#)'
M=5&%05"<)*-'65"'*%:E%0*%*'M=5&%05"<.<'&%*5)'D=)';=)8)'5"8"$'&05')<'7)5"80'D=)'*"E)':07)$*)';0$'<0*'E0*D=)*-'.*#0*'"5%:"<)*'
)70&"5'<"'=5%L5'8)':=580*'8%M)$)5#)*+'<"'&057%7)5&%"')5'=5"'=5%8"8'M=5&%05"<'8)'8%M)$)5#)*'
&="<%8"8)*'3'&";"&%8"8)*-'
.<';)$$0'D=)'F="$8"')<'$)E"p0'*)'=5)'"'_*#)'*%:E%L#%&":)5#)1')<'F="$8%^5'3')<'F="$8"80'
OS
2!1"3'(+4"&&56*(+y#$"8=&&%L5'8)<'"'"=#0$"z
JJ#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
M0$:"5'=5':%*:0'&=)$;0'0;)$"#%70-'K"'%<=*%L5'8)'*)$'*)$)*'"=#L50:0*+'"])50*'=50*'8)'
0#$0*+'D=)8"'"*G'8)*:"5#)<"8"-'
K"*';"$)]"*+'<0'*05'8)'I)&I01'50'I"3'#0$#=$"80$'*%5'#0$#=$"80+'5%':"$F%5"80$'*%5':"$F%5"80+'
50')U%*#)'=5'M=)$#)'*%5'=5'8_E%<'D=)'<)'I"&)'M=)$#)+'rD=%)5')*')<'M=)$#)s'r)<'M=)$#)+'0')<'8_E%<'
D=)'%58=&)'<"*'&="<%8"8)*')5')<'0#$0'D=)'<)'8)M%5)5'&0:0'M=)$#)s'
Y0')U%*#)'=50'*%5'0#$0+'3'50')*'=50'8%M)$)5#)'8)'0#$0+';=)*#0'D=)'":E0*'*)'F)5)$"5'
:=#=":)5#)'3'*)'&0:;<):)5#"5';0*%E%<%#"580')<'D=)'&"8"'=50'*)"'<0'D=)')*!0$'0#$0'<"80')5&05#$":0*')<'"5%:"<'8%*)&"80+'*)&&%05"80'3'7=)<#0'"'&0:;05)$-'K0'7%70'
"#$";"80')5'=5"':=)$#)'I%F%_5%&"+'%F="<"8"')5'E)<<)4"'3'7)$"&%8"8'"'<"'7%8"-'2&+"!5."&+I5I'+
/"%"+(5'./%'+.5%?!6*!*(-'
.<'"5%:"<'8%*)&"80')*#"E<)&)')<'$)&=)$80'8)'=5'#%):;0';"*"80'3'8)'=5"'M0$:"';"*"8"'8)'
8)*"$$0<<0'8)'5=)*#$0'&050&%:%)5#0-'.<'"5#%F=0':=*)0'8)'&%)5&%"*'5"#=$"<)*')*#"E<)&)'=5'
"<#0'&05#$"*#)'&05'<"':%$"8"'&%)5#GM%&"'8)<'*-{{a+'#"5'"<)]"8"'8)'&="<D=%)$':"5%M)*#"&%L5'
$)&050&%E<)')5'5=)*#$0'$);)$#0$%0'7%*="<-'
!)$0'50')*'*)5&%<<":)5#)')*)'$)&=)$80-'V"5'*L<0'<0*'"5%:"<)*'8%*)&"80*'50*'$):%#%$G"5'
8%$)&#":)5#)'"<'*-{a{-'f%5'):E"$F0'<"':"5)$"'8)'$)"<%4"$')*)'&0<<"F)')5#$)')*;)&%)*+'50*'
<<)7"'"'0#$0*'<=F"$)*'8)'&050&%:%)5#0-'Q"3'"<F0'D=)'*)'$):=)7)-'K"'I%E$%8"&%L5')5#$)'
)*;)&%)*'#"5'8%M)$)5#)*+'50*'8)*;<"4"'I"&%"'=5"'D=%:)$"';0*%E<)'&0:0+';0$')]):;<0+')<'
U)50#$"5*;<"5#)+'0'#$"5*;<"5#)'8)'#)]]%80*')5#$)'8%M)$)5#)*')*;)&%)*-'K0*'&)$80*'50*')*#^5'
805"580'*=*'&0$"405)*.<'*)$'I=:"50'50'";"$)&)')5')<'#$"E"]0'8)'W$X5M)<8g'r)*+'#"<'7)4+'=5'$)#$"#0'8)'=5"'"<%"54"'
)5#$)'%F="<)*')5'=5':=580'8)<'D=)'D=)8":0*'M=)$"s'Y0*')U&<=%:0*'---'65"'3'0#$"'7)4+')<'
:%*:0':)&"5%*:01'D=)$)$'"#$";"$'"<F0+'D=)')*'%5"#$";"E<)-',%*)&"$'=5'"5%:"<+'3'8)')*#"'
M0$:"';08)$50*'"&)$&"$'*%5'#):0$-'/#$";"$'<"'<%E)$#"8+';0$D=)'50*'M"*&%5"+'"#$";"$'<"'E)<<)4"'
)5'<"':)*"'8)'0;)$"&%05)*-'/#$";"$+')5&)$$"$+'"5=<"$-',%*)&"$-'
r9="<')*')<':)5*"])'D=)'50*'D=%)$)'#$"5*:%#%$')*#)'"5%:"<+'D=)'3"'50')*':05*#$=0+'*%50'
;0*%E%<%8"8s-'.*'=5"'&0:;0*%&%L5'E^*%&"+')5'<"'D=)')<'$)*=<#"80')*'#"5'"$:05%0*0')5'&="5#0'
"'*=')*#_#%&"+'D=)'I"&)'D=)'#080'=5'"*;)&#0'*%5%)*#$0'3':05*#$=0*0'8)'5=)*#$0*'
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#JI
)U;)$%:)5#0*+'3'8)<'=*0'D=)'I"&):0*'8)'<0*'"5%:"<)*';"$"')<<0*+'D=)8)')57=)<#0')5'=5'I"<0'
8)'M)<%&%8"8-'
.*+';0*%E<):)5#)+'=5"'E=)5"':"5)$"'8)'#$"5*:%#%$'<"'5)&)*%8"8'8)'"&);#"$')*#)'0#$0'$)%50'
"%#54515"&'D=)';"$#)'8)'<0'D=)'50*'&05*#%#=3)'&0:0'5"#=$"<)4"+';)$0')*'"'<"'7)4'M$=#0'8)'
5=)*#$"*'#_&5%&"*'";"$)5#):)5#)'!*+!"#$%"&'(+'#_&5%&"*'8)'#$"5*M0$:"&%L5'8)'<0'5"#=$"<-'
f%):;$)'I):0*'#):%80'5=)*#$"*'&$)"&%05)*-'V"<'7)4'<"'%:"F)5'8)'<0*'"5%:"<)*')<"E0$"80*'
#"U%8_$:%&":)5#)+';=)8"5'*)$)5"$50*'&05'*='5"#=$"<%8"8+'$)*;)&#0'8)'5=)*#$0*'
)U;)$%:)5#0*65'&)$80'"<'D=)'<)'"p"8)5')<'F)5'8)'<"')*;%5"&"+';"$"'D=)')<'&)$80'*)"'#":E%_5'7)$8=$"---OO
A&F"FM3$#@#T#8)'<"':"5)$"')5'D=)'50*'$)<"&%05":0*'&05'<0*'"5%:"<)*';"$"'"7)$%F="$'<"'
:"5)$"')5'D=)')*#":0*'$)<"&%05"80*'&05')<<0*
9"+'d/"!(58!+6'+&*(+1*./*%#".5'!#*(+.?(+"&&?+6'+($+4$!158!+*%5L5!"&+'(+$!+%"(L*+#O/51*+6'+
#*6"(+&"(+'(/'15'(+-$'+A"!+1*!('L$56*+1*!#%*&"%+'&+/%*C&'."+6'+&"+($/'%I5I'!15"N+r+s+:*!+'&+
#5'./*+#"&'(+1*!6$1#"(+&&'L"!+"+6'('./'b"%+*#%"(+4$!15*!'(+#"&'(+1*.*+#%"!(.5#5%+
5!4*%."158!K+"&5I5"%+'&+"C$%%5.5'!#*+P$!+I'%6"6'%*+/%*C&'."+/%"+&*(+.*!*(+;+&*(+'&'4"!#'(+'!+
1"$#5I56"6QK+1"!"&50"%+&"+'!'%LO"+!'$%8#51"+P-$'+1*!(#5#$;'+$!+/%*C&'."+#"!#*+/"%"+&*(+
A$."!*(+1*.*+/"%"+&*(+"!5."&'(+-$'+!*+I5I'!+'!+&5C'%#"6Q+*+(5./&'.'!#'+/%*/*%15*!"%+
/&"1'%Nau
A*)/!#6$)'$%>#7'('(/'%"158!+"/%'!656"+'!+%"#"(
2!1*!#%,+$!"+%'I5(#"+'!+'&+"I58!+6*!6'+A"CO"+$!+"%#O1$&*+#5#$&"6*+
V7'('(/'%"158!+"/%'!656"+'!+%"#"(WN+2%"+6'+&"+F15'!#5451+H.'%51"!N+qK+
*CI5".'!#'K+"$!-$'+4$'('+$!+'(#$65*+15'!#O451*+'&+"%#O1$&*+'%"+%56O1$&*N+
2(#"C"+'(1%5#*+-$'+&"(+%"#"(K+1$"!6*+(*!+'d/$'(#"(+"+$!"+(5#$"158!+6'+
'(#%,(+($4515'!#'.'!#'+5./*%#"!#'K+('+I$'&I'!+5./*#'!#'(K+/'%*+NN+1&"%*v+2(+
OO
O`
WZZ,/KK+'@"5)-'9
++*(+65'0+."!6".5'!#*(+/"%"+1*./"%#5%+'&+/&"!'#"+1*!+&*(+"!5."&'(
+
+-'!"%8L*+'?"$&)<05"'
ABBS+';-NON'
K0*'&%)5#GM%&0*']";05)*)*'I"5'<<)F"80'"'%:;<"5#"$'F)5)*'8)')*;%5"&"*')5'&)$80*+'3'"M%$:"5'D=)'I"5'
;$08=&%80'"*G'"5%:"<)*':^*'*"<=8"E<)*,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,+'.*;"p"+')8-',)E"#)'ABBO'
JS#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
&*+.5(.*+/"%"+&"+L'!#'N+9*+-$'+-$5'%"+-$'+('"K+.'+653'K+'(+($4515'!#'.'!#'+
'd#%"b*Nat+y#$"8=&&%L5'8)'<"'"=#0$"z
?$=&)'Y"=:"5-'9'"%!'6+B'&/&'((!'((+5!+G"#(OJ
65'<"E)$%5#0+'<"'&"]"'8)'f\%55)$-'r.5'D=_'*)'8%M)$)5&%"'<"'&"]"'8)'f\%55)$'8)'<"'"&#%7%8"8'
"$#G*#%&"+')5'<"'D=)'*)'&05*#$=3)'=5'0E])#0'0'=5"'"&&%L5+';"$"';08)$<"'0E*)$7"$'3')U#$")$'
&05&<=*%05)*s'
65'&0:;0$#":%)5#0'"5%:"<')5'=5')5#0$50'I=:"50-'65'"5%:"<'0E*)$7"580'"'0#$0-'65'"5%:"<'
D=)'0E*)$7"'"'0#$0'D=)+'"'*='7)4+'0E*)$7"'"'_*#)g'=5'&%$&=%#0'D=)')5#$"'3'*"<)'8)'<"'"&#%7%8"8'
8)'=50'3'0#$0g'=5'&%$&=%#0'8)'F$"E"&%L5'D=)'"#$"7%)*"'"'=50'3'"'0#$0'3':=)*#$"'"'=50'"<'0#$0'3'
#080')<<0+'"'*='7)4+'"<')*;)&#"80$+'D=%)5')5#$"'"=#0:^#%&":)5#)'"')*#)'&%$&=%#0'8)'"&&%L565'&%$&=%#0'D=)'e"*):)]"580'"'<"'&%5#"'8)'>0)E%=*e'"#$"7%)*"'"<'"5%:"<';"$"'*"<%$'8)')*#)'"<'
%5#)$%0$'8)<'I0:E$)'3'70<7)$'"'#$"7_*'8)<')*;)&#"80$'"'=50'3'0#$0g'D=)')5&%)$$"'"<'=50'3'"<'
0#$0g'D=)'7%F%<"'"'#080*-
OH
OJ
V0:"80'8)'h6VV.c+'@i$F-'B$."!+)"#$%'K+H!5."&+)"#$%'K+)5+SGj:2+)Hj@H)K+F1$&/#$%'(+"!6+
T!(#"&&"#5*!(+^_ou+E+^__eK+K"=*"55)+'>=*_)'8)*'?)"=U'/$#*+'NCCN+';^F-'OOVwx"5+#%*$I,+$!'+%'I$'+6"!(+&x"I5*!+*$+5&+;+"I"5#+$!+"%#51&'+5!#5#$&,+y9'"%!'6+B'&/&'((!'((+5!+G"#(zN+:x,#"5#+&'+
F15'!#5451+H.'%51"!N+2#+C5'!+({%K+.|.'+(5+1x,#"5#+$!'+,#$6'+(15'!#545-$'K+&x"%#51&'+,#"5#+%5651$&'N+T&+,#"5#+,1%5#+-$'+
6'(+%"#(K+(x5&(+(*!#+.5(+6"!(+$!'+(5#$"#5*!+6'+(#%'((+($445("..'!#+5./*%#"!#'K+6'I5'!!'!#+5./$5(("!#(K+
."5(+NNN+,I56'..'!#v+:x'(#+&"+.|.'+1A*('+/*$%+&'(+L'!(N+h$*5+-$x5&+'!+(*5#K+3'+.'+($5(+65#+-$'+1x,#"5#+"(('0+
6%}&'NW
7'('(/'%"158!+"/%'!656"+'!+%"#"(
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#J?
K"';%)4"'7'("./"%*+"/%'!656*+'!+%"#"(+PS"#'%5(#"+6'+%*1\+"!6+%*&&Q+MP9'"%!'6+B'&/&'((!'((+
5!+G"#(N+G*1\+"!6+G*&&+7%$..'%+^_ooQMK'&05*%*#)')5'=5'<"E)$%5#0'8)';<)U%F^*'":"$%<<0'
&0<0&"80')5')<'&)5#$0'8)'=5"'I"E%#"&%L5'0*&=$"'&05'%:^F)5)*'8)'7G8)0';$03)&#"8"*'*0E$)'<"'
;"$)8-'.*"*';$03)&&%05)*'"<#)$5"5')5#$)'=5"'$"#"'&0$$)#)"580';0$')<'<"E)$%5#0'3'=5'%5)U;)$#0'
E"#)$G"'8)'$0&\':"$#%<<)"580'=5'&05]=5#0'8)'#":E0$)*-'.5'=5"'*)F=58"';%)4"+'G"#"(+;+C"#'(N+
7'("./"%*+"/%'!656*+'!+%"#"(+TT'yG"#(+"!6+S"#(N+9'"%!'6+B'&/&'((!'((+5!+G"#(+TT+'NCPPz+'
Y"=:"5'&05*)$7L')<'<"E)$%5#0'3'<"*'%:^F)5)*'8)'7G8)0'8)'<"'$"#"+';)$0'"I0$"'*=*#%#=3L'"<'
#":E0$%<)$0';0$'=5']=F"80$'8)'E_%*E0<'D=)+'&05'=5"')*#"&"+'";0$$)"'$=%80*":)5#)')<'
8)*&050&%80'&05#)5%80'8)'=5';)#"#)-'f)'%5&<=3)'=5'#)$&)$'*)F:)5#01'%:^F)5)*'8)<'
)*;)&#"80$'8)';%)')5')<'$)&%5#0'#0:"8"*';0$'=5"'0:5%7%8)5#)'&^:"$"'8)'&%$&=%#0'&)$$"80-'
905'0E])#0'8)'&05M=58%$'"'<"*'$"#"*':%)5#$"*'$08"E"'<"*'&%5#"*';"$"'":E"*'0E$"*+'Y"=:"5'
I"EG"'&0<0&"80':05%#0$)*'<<)7"580')*"*')*&)5"*'"<'<"E)$%5#0'8)';<)U%F<^*-'.5'":E0*'&"*0*+'
<"')U;)$%)5&%"'8)]"'"<'I0:E$)'3'"<'"5%:"<')5'=5')*#"80'8)'8)*7"<%:%)5#0-OP
:$"!6*+!*+("C'(+&*+-$'+A"1'%K+'!#*!1'(+&*+-$'+-$5'%"+-$'+A"L"(+'!+'('+.*.'!#*K+('+
1*!I5'%#'+'!+"%#'N'K"'$"#"+':)#%8"')5'=5'<"E)$%5#0+'r)*#^'#":E%_5')<<"'I"&%)580'"$#)s'r)*'
)D=%7"<)5#)'*='"&#%7%8"8')5')<'<"E)$%5#0+')5')<'D=)'50'*"E)'<0'D=)'I"&)$+'"'<"'8)'?-'Y"=:"5'
:)#%80')5'*=')*#=8%0s
.<')*;)&#"80$'*)')5&=)5#$"')5'=5"'*%#="&%L5'8)'&%$&=%#0'&)$$"80+'8)'<"'D=)'50';=)8)'
*=*#$")$*)+'3')5'<"'D=)'"=#0:^#%&":)5#)'8)7%)5)'_<':%*:0'&0E"3"f%'E%)5'<"';%)4"';"$#)'8)'e3'#%)5)'&0:0';$0#"F05%*#"'*%5'8=8"'"'<"'$"#"e+'_*#"'50'*)')5&=)5#$"'
)5')<<"-'K"'$"#"'I"E%#L')<'<"E)$%5#0')5')<'#"<<)$'8)<'"$#%*#"+'*%5'):E"$F0'"<';"*"$'"'<"'F"<)$G"+'<"'
$"#"'3"'50'*)')5&=)5#$"-'
.5'<"'F"<)$G"')5&05#$":0*')<'<"E)$%5#0'7"&G0-'f='"=*)5&%"'*)'I"&)';$)*)5#)'&05'*='
;$03)&&%L5')5'<"';"$)8-'f='"=*)5&%"g'"'<0*'I=:"50*'50*'D=)8"+'<0'D=)'<0*'I=:"50*'I):0*'
&05*#$=G80+';)$0'"D=)<<0'D=)'<0'%:;=<*"+'D=)'<)'8"'<"'$"4L5'8)'*)$+'<0';)$8):0*')5'=5'
&05*#"5#)';$0&)*0'8)'"E*#$"&&%L5'&"8"'7)4':"30$-
OP
+S%$1'+)"$."!+J+Ye+6'+!*I5'.C%'+6'+^__YMk^+6'+4'C%'%*+6'+^__aK+@$('*+)"15*!"&+:'!#%*+6'+H%#'+G'5!"+ +
F*4O"K'>=*)0'Y"&%05"<'9)5#$0'8)'/$#)'c)%5"'f0MG"+'>"8$%8'NCCS'
JO#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
.<'"&)5#0'$G#:%&0+')<'%:;=<*0'"F$)*%70')5')<'E"#)"80$';$03)&#"80')5'<"';"$)8+'50*'7=)<7)'"'
$)&0$8"$')<'"&#0'"5%:"<+')<';"<0+')<'F0<;)+')<'E"#)'8)'E_%*E0<+'<"'M0$:"')5'D=)'5=)*#$"'&=<#=$"'
"*%)5#"-'K"';)$8):0*-'K"'$"#"+'<"'I):0*';)$8%80-'
:*.*+'!+*#%*(+#%"C"3*(+6'+)"$."!K+'!1*!#%".*(+$!"+'1$"158!+'!+-$'+&"+6'('(/'%"158!+('+
5L$"&"+"+&"+4"&#"+6'+('!#56*K+;+&"+%'/%'('!#"158!+6'+&"+I5*&'!15"+'(#"C&'1'+$!+1*!#%"/$!#*+"+&"+
6'('(/'%"158!-OC
H.C*(+'-$5/*(+6'+5!I'(#5L"6*%'(+"45%."!+-$'+($(+#%"C"3*(+C%5!6"!+($(#'!#*+"+&"+I5(58!+6'+
-$'+&*(+6'&45!'(+/$'6'!+6'("%%*&&"%+"&Lc!+#5/*+6'+!*158!+(*C%'+'&&*(+.5(.*(+;+(*C%'+*#%*(+
1*.*+5!65I56$*(K+A"C5&56"6'(+4%'1$'!#'.'!#'+"(*15"6"(+'d1&$(5I".'!#'+1*!+&*(+('%'(+
A$."!*(+;+&*(+L%"!6'(+/%5."#'(N`B
Y0'&0:;$)580'5%5F=50'8)'<0*'"$F=:)5#0*'D=)'I)';08%80')*&=&I"$')<"E0$"80*';"$"'
8):0*#$"$'<"*'&="<%8"8)*'D=)'50*'8%M)$)5&%"5'8)<'"5%:"<-'9"+654'%'!15"+'!#%'+!$C'(+;+
"!5."&'(+*+"!5."&'(+;+A$."!*(+'(+'I56'!#'K+(5!+'.C"%L*+(5+('+6'45!'!+&*(+1%5#'%5*(+6'+&"+
654'%'!15"+'!+C"('+"+&"+1$&#$%"K+&"+5!#'&5L'!15"+*+'&+&'!L$"3'K+'&+%'($&#"6*+'(+(5'./%'+
"!#%*/*1,!#%51*N`N'Q):0*'7%*#0'&L:0')*#0*'&$%#)$%0*+'=50'#$"*'0#$0+';%)$8)5'*='<)F%#%:%8"8'
*)Fo5'"7"54"5'<"*'%57)*#%F"&%05)*'&%)5#GM%&"*-'
!=)*#0'D=)'<"'8%M)$)5&%"')5#$)')*;)&%)*+'&0:0')5#$)'%58%7%8=0*'8)'<"':%*:"')*;)&%)+')*'#"5'
&<"$"'&0:0'<0')*')5#$)'&="<)*D=%)$"'80*')5#%8"8)*'8%M)$)5&%"8"*+')<'%5#)$_*'*)'8)*;<"4"'8)<'
"5^<%*%*'8)'<"'8%M)$)5&%"')5'*G+'"<'"5^<%*%*'8)'<0*')*M=)$40*'$)"<%4"80*';"$"'8):0*#$"$')*#"'
8%M)$)5&%".*#)'&0:;0$#":%)5#0'I=:"50'e*)$7%$*)'8)'"$F=:)5#0*'D=)'*)'8):=)*#$"5'%:;$)&%*0*'"'<"'
I0$"'8)')*#"E<)&)$'<"'8%M)$)5&%"')5#$)')<'I0:E$)'3')<'"5%:"<e'8)E)$G"'*)$'"5"<%4"80'&05'<"'
<LF%&"'8)'<"')#0<0FG"';"$"'#$"#"$'8)'&0:;$)58)$'&=^<')*')<';";)<'8)<'I=:"50')5')<'
)&0*%*#):"-'
>%$":0*'"'<0*'8)<M%5)*+'0'"'<0*':050*'0'"'<"*'=$$"&"*'3'*=E%:0*'0'E"]":0*')5'5=)*#$"'
)*&"<"'8)'):0&%05)*-'K0*'"8:%$":0*+'<0*')57%8%":0*+'8)*)":0*'*=*'&="<%8"8)*+'0'E%)5'<0*'
OC
`B
`N
V0:"80'8)'h6VV.c+'@i$F-'B$."!+)"#$%'K+H!5."&+)"#$%'K+)5+SGj:2+)Hj@H)K+F1$&/#$%'(+"!6+
T!(#"&&"#5*!(+^_ou+E+^__eK+K"=*"55)+'>=*_)'8)*'?)"=U'/$#*+'NCCN
'I##;1jjkkk-<"5"&%05-&0:-"$j50#"-"*;s50#"~%8•SBNC`H''ykkk-:%*)<7"-0$Fj8)"'ƒ'"5%:"<)*'ƒ'8)<M%5)*z'
h/6Yf9Qac>+'VI0:"*-'T.+<**+6'%+m$!(#+TT+')5'[6YfV(Zc6>+'E8-'NJ`'&";'Raa
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#J[
8)#)*#":0*g'<0*'"5%:"<)*'*%):;$)'50*'8)7=)<7)5'=5'$)M<)]0'8)'"D=)<<0'D=)+')5'50*0#$0*+'50'
;08):0*'I03'&0:;$)58)$g';0$')<<0'50*';$08=&)5'=5"'$)"&&%L5'%5#)5*"'3';$0M=58"9="580':%$":0*')<'7=)<0'8)'=5'"7)g'0'&="580'7):0*'=5'80&=:)5#"<'8)'&"+6*(+'&="580'
7):0*')*0*'&=)$;0*'$)"<:)5#)';)$M)&#0*+'&="580')*&=&I":0*'<"'<0&=&%L5'#"5'I)$:0*"+'=5"'
704'D=)'50*')U;<%&"'<0'D=)'I"&)')<'"5%:"<'"<'D=)'#)5):0*')<';<"&)$')50$:)'8)';08)$'
0E*)$7"$+'&="580')5#)58):0*'<"'<LF%&"'8)'*=':080'8)'7%7%$'3'"&#="$+'*=E%:0*')5'<"')*&"<"'
8)'5=)*#$"*'):0&%05)*'3'*)5#%:%)5#0*-'/<'";"F"$')<'#)<)7%*0$+'*"<%:0*'"'<"'&"<<)+'7):0*'<"*'
$"#"*+'0'<"*'&=&"$"&I"*+'0'<"*';"<0:"*'&%=8"8"5"*'*=&%"*')'%<)F"<)*'3'&05')<<0*'8)#)*#":0*'
5=)*#$0';$0;%0'*)$'"5%:"<-'
!"#5$*+&64#6,#"43#$%&'$",3(#7$#8$'&"&$#6,"#8/+/*4
j!+#%"C"3"6*%+-$'+!*+-$5'%"+('%+$!+1"/5#"&5(#"+5./'656*K+;+'&+-$'+/*%+#"!#*+
#*."+'!+('%5*+&"+&$1A"+1*!#%"+#*6"+4*%."+6'+'d/&*#"158!K+!*+('+'!#%'L"+"+&"+
I'%L*!0*("+1*(#$.C%'+6'+"/%*I'1A"%('+6'+"!5."&'(+5!6'4'!(*(+;+!*+#*."+
/"%#'+'!+&"+."#"!0"+65"%5"+6'+.5&&*!'(+6'+"!5."&'(N+PNNQ+B";+-$'+6'1565%('J+
*+('+&$1A"+1*!#%"+&"+'d/&*#"158!K+*+('+"C"!6*!"Nuk
P=%"6$1158!+6'+&"+"$#*%"Q
#)'&(*!+9'*!"%6K+^_kt
`F,!HZ#A!)0,>#:*;*#'
.<'#$"E"]0'8)'?)=3*')*#^'"#$"7)*"80';0$')<')5#$)<"4":%)5#0'8)'&05&);#0*'3':_#080*'
&I":^5%&0*')5'#0$50'"'<"')5)$FG"+';0$'=5'<"80+'&05'&=)*#%05)*'8)'G580<)';0<G#%&"'$)M)$%8"*'"'
*='*0&%)8"8';0$'0#$0+'3'#080')<<0'<0'%5#)5*%M%&"'&05'<"'%:;<%&"&%L5'8)<'*%F5%M%&"5#)'"5%:"<?)=3*'*)'*)$7%$^'8)<'&030#)';"$"'"M%"54"$'*='%5&=$*%L5'&0:0'"$#%*#"')5'Y0$#)":_$%&"-'.*'
)U;$)*%L5'8)'=5"'$)<"&%L5';0<G#%&"-'
?)=3*'I"EG"'$)=*"80'<"'%57%#"&%L5'"'&)<)E$"$'=5"')U;0*%&%L5'8)'*='#$"E"]0')5'"D=)<'
`A
Y.KfZY+'K.ZY/c,-'TFm+PT!#'%!"#5*!"&'+F*05"&5(#5(1A'+m"./4C$!6Q+'N-@"I$F"5F+'Q)M#'`+'NCAH+')5'
T!#'%('1#5*!(+'R%)5"+'Ki&\)$'ABBC+';-NP`t.%5'/$E)%#)$+'8)$'5%&I#'5=$')%5'7)$I%58)$#)$'[";%#"<%*#'*)%5'k%<<'=58'8):')*'"<*0'.$5*#'%*#'%:'[":;M'F)F)5'])8)'
/=*E)=#=5F+'8)$'E)=F#'*%&I'5%&I#'8)$'7)$n&I#<%&I)5'W)k0I5I)%#+'I"$:<0*)'V%)$)'"=*4=E)=#)5+'8)$'E)#)%<%F#'
*%&I'5%&I#'"5'8):'#nF<%&I)5':%<<%05)5M"&I)5'V%)$:0$8-'y--z'.5#k)8)$':"5'k%<<'F)F)5'8%)'/=*E)=#=5F'
\n:;M)5+'08)$':"5'<n**#')*--m'P=%"6$1158!+6'+&"+"$#*%"Q
JU#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
&05#%5)5#)+'"$F=:)5#"580'*='5)F"#%7"'&0:0'=5"'#0:"'8)';0*#=$"':%)5#$"*'Y0$#)":_$%&"'
)*#=7%)$"'%:;<%&"8"')5'<"'F=)$$"'&05'R%)#5":(%5"<:)5#)')5')<'"p0'NCJO'$)"<%4L'*=';$%:)$'7%"])'"'Y0$#)":_$%&"g')5'_<'&05*%F=%L'/5("%+'&+
($'&*'.'!#"&.'!#'+';=)*')5'7)4'8)'0$F"5%4"$'"<Fo5'#%;0'8)':=)*#$"+'<0'D=)'I%40'M=)'
0$F"5%4"$']0$5"8"*'8)'8)E"#)+')5'<"*'D=)')U;=*0'*='&05&);#0'8)'/&?(#51"+(*15"&'3')U;$)*L'
*=*':"5%M)*#"&%05)*')5'#0$50'"'<"'5)&)*%8"8'8)'=5'&":E%0')5'<"'*0&%)8"8.*#)';$%:)$'7%"])'<0'&05*%8)$L'&0:0'<"'2#"/"+^+'"'<"'D=)+';0&0*':)*)*'8)*;=_*+'<)'*)F=%$G"'
<"'2#"/"+k1'<"'"&&%L5'&05')<'9030#)9424+,-#:#"&;,#)',*&.$#$%6#)',*&.$#"&;,3#',<=
.5')*#"'"&&%L5+'?)=3*'50';%*"$^')<'*=)<0'50$#)":)$%&"50g'=5"'":E=<"5&%"'<)'$)&0F)$^'8)<'
")$0;=)$#0+'3')57=)<#0')5'M%)<#$0'<)'<<)7"$^'"'<"'F"<)$G"')5'<"'D=)'#$"5*&=$$%$^'<"'"&&%L5+'
8);0*%#^580<)'"<<G')5'&":%<<"90:;"$#%)580'&05'5=:)$0*0*'%5#)<)&#="<)*')=$0;)0*')5'"D=)<':0:)5#0'=5"'"5#%;"#G"'I"&%"'
<0*'.*#"80*'65%80*'8)'/:_$%&"+'?)=3*')*&$%E)+';$0E"E<):)5#)')5'=5"'80E<)'*%F5%M%&"&%L5+')<'
*=E#G#=<0'8)'<"';%)4"':*;*#'J+T+&5\'+H.'%51"+"!6+H.'%51"+&5\'(+.'N+K"'M0$:=<"&%L5'8)')*#"'
M$"*)';=)8)'*)$'<)G8"+';0$'=5'<"80+'8)'M0$:"'%$L5%&"+';)$0'#":E%_5'*)';=)8)')5#)58)$')5')<<"'
<"'M0$:"'8)'=5'<)5F="])'8)'&"$^&#)$'*"5"80$+'&0:;=)*#0'8)'M$"*)*'*)5&%<<"*+'&"*%'
$=8%:)5#"$%"*+'D=)'*)'8%$%])5'8%$)&#":)5#)'"'=5"'&05&%)5&%"'&05&%<%"80$"'0'*"5"80$"-'.*#)'
#%;0'8)'<)5F="])')*')<'D=)'*)')5&=)5#$"')5'<0*'$%#="<)*'*"5"80$)*'8)'<0*'%58%0*'5"7"]0*1'
t/I0$"')*#03'&=$"80----'&":%50'&05'=5'&=)$;0'D=)'5=5&"'70<7)$^'"'*=M$%$----u-'
.5'<"'"&&%L5'&05')<'&030#)'?)=3*'*)'*)$7%$^+'"*%:%*:0+'8)')*#)'#%;0'8)'<)5F="])-`O
.5'<"'F"<)$G"'*)'%5*#"<L'=5"'$)]"'8)*8)')<'*=)<0'I"*#"')<'#)&I0+'D=)'"%*<"E"'<"'405"')5'D=)'
?)=3*'<<)7L'"'&"E0'*='"&&%L5']=5#0'&05')<'&030#)+'8)'<0*'7%*%#"5#)*-',=$"5#)'#$)*'8G"*+'?)=3*'
;"*L'8)'NB'"'NP'I-+'I0$"$%0'8)'";)$#=$"'"<';oE<%&0+')<'#%):;0')5&)$$"80']=5#0'"<'&030#)@=5#0'"'_<'"<F=50*'0E])#0*1'F="5#)*'8)'&=)$0+'=5"'<%5#)$5"'3'=5'E"*#L5';%5#"80*'8)':"$$L5+'
=5'#$%^5F=<0'*050$0+'3'=5'#$040'8)'M%)<#$0-'9"8"'8G"'`B')]):;<"$)*'8)<'b"<<'f#$))#'@0=$5"<'*)'
";%<"E"5')5'80*'&0<=:5"*')5')<')*;"&%0'8)')5&%)$$0-'
`S
`O
@'+L$(#"+H.,%51"+;+"+H.,%51"+&'+L$(#*+;*'y#$"8=&&%L5'8)'<"'"=#0$"z
@0*);I'?)=3*'1',%)'/\#%05)5-'6k)'f&I5))8)-'R)$<"F'W)$8'Q"#])+'f#=##F"$#'NCCO
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#IW
.<'&030#)':"$&L'=50'#$"*'0#$0'#080*'<0*')<):)5#0*'&05'*=*'0$%5)*-'?)=3*')*#"E<)&%L'80*'
405"*+'=5"'&05';"]"';"$"')<'&030#)+'0#$"'&05')<'M%)<#$0';"$"'*G':%*:0g';$05#0'":E0*'
%5#)$&":E%"$05'*=*'<=F"$)*.5'<0'*=&)*%70+':07%:%)5#0*'$%#="<)*+'M$"*)*'*=)<#"*')U;$)*"8"*')5'=5'<)5F="])')*;)&GM%&0+'
)<"E0$"80'"';"$#%$'8)'*=*'&05&);&%05)*':)#"MG*%&"*+'"<#":)5#)'%58%7%8="<%4"8"*-'f%5'*"<%$*)'
8)'<"'<LF%&"')*;)&GM%&"'8)'<"';)$M0$:"5&)+'?)=3*'"<#)$5"')5#$)'<"'"&&%L5'3'<"'&0:=5%&"&%L5'
&05'7%*%#"5#)*'8)<';oE<%&02&+('!#56*+6'+&"+"1158!+'%"+%'(#"C&'1'%+'&+65?&*L*+6'&+A*.C%'+1*!+'&+%'5!*+!"#$%"&N+)*+/$'6'+
'd5(#5%+$!"+1*.$!51"158!+(8&*+'!#%'+&*(+A*.C%'(K+(5!*+-$'+6'C'+'d5(#5%+"(5.5(.*+$!"+
1*.$!51"158!+'!#%'+&*(+('%'(?)=3*'*)'*%$7)+'8)'=5"'M0$:"'D=)'*)';08$G"'&"<%M%&"$'&"*%'8)':07%:%)5#0'8%;<0:^#%&0+'8)<'
"5%:"<'&05')<'D=)')*#"E<)&)'<"'E%*"F$"';"$"'$)<"&%05"$*)'"'#$"7_*'8)'=5'M%<#$0+'8)'"<F=5"'
:"5)$"'&";"4'8)'<%:;%"$<)'8)'*='&05#"&#0'&05')<';=)E<0'":)$%&"50g')<'"5%:"<+'D=)')*'"])50'
)'%50&)5#)'"'&="<D=%)$"'8)'<"*'):;$)*"*';0<G#%&"*'D=)'<<)7"5'"<'I0:E$)'8)'%:;)$%0*'"'
$)"<%4"$'*=*'8)7"*#"80$"*'&05D=%*#"*+'3"'*)"')U#)$:%5"580'&030#)*'0'%58%0*t2&+.5'6*+"!#'+'&+"!5."&+5./%'I5(5C&'+;+.'65*+("&I"3'+('+($/'%8+'!+&"+"%.*!O"+6'&+'!1$'!#%*K+
-$'+L'!'%8+$!"+'!'%LO"+6'+&"+$!56"6NW+7'+'(#"+4*%."+('+"&1"!0"+'&+($'b*+6'+&"+1*!15&5"158!+
'!+'&+#%"C"3*+:*;*#'uu?)=3*'*)'*%$7)'8)'<0*'"5%:"<)*+';$)#)58%)580'D=)'*)"5'L$F"50*')U#)$50*'8)<'I0:E$)+'
&05)&#"80*'&05'<"*'&="<%8"8)*'0$%F%5"$%"*+';)$8%8"*')5')<';$0&)*0'&%7%<%4"#0$%0-'K0*'"5%:"<)*'
;0*))5+'*)Fo5'?)=3*+'$!"+4$'%0"+;+$!"+L%"!+"$#*%56"6+'(/5%5#$"&X+&*+-$'+&'+'(+!'1'("%5*+"&+
A*.C%'+/"%"+($+'d5(#'!15"N
905')5')<'=*0'8)'<0*'"5%:"<)*+';$)#)58)'8)]"$'&<"$0'D=)'*)'$)<"&%05"'&05'0#$0'#%;0'8)':=580'
3'8)'$)"<%8"8+'D=)'50')*')<'D=)'50*'M=5&%05"'&0:0':05)8"'8)'&":E%0'0'&057)5&%L5650'8)'<0*'"5%:"<)*'D=)':^*'";"$)&)')5'<"*'"&&%05)*'8)'?)=3*')*'<"'<%)E$)-'
K"'<%)E$)')*')<'"5%:"<':^*'$^;%80'8)'<"')*#);"+')5'<"'D=)'@0*);I'?)=3*'*%#o"'*='F_5)*%*'
``
Vaf,/KK+'9"$0<%5)-'w*('/A+S'$;(K+:*;*#'-'f&I%$:)$+'>0*)<+'>X5&I)5'NCPP'
I4#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
&0:0'"$#%*#"g'&0:0'#"<+'<"'<%)E$)'*%:E0<%4"'<"':07%<%8"8'3'<"'7)<0&%8"8-'90:0')<):)5#0'8)'
:07%<%8"8+')*'*G:E0<0';"$"'<"'"&&%L5'&";"4'8)'&":E%"$')<'$GF%80'&05&);#0'8)<'"$#)-'K"'<%)E$)+'
"*G'?)=3*+')*'=5'"5#%F=0'*G:E0<0'F)$:^5%&01'*='I=)70'8)';"*&="'*%F5%M%&"'$)507"&%L5+'
$)&0:%)540+';$%:"7)$"-'.*'=5'*%F50'"<D=G:%&0';"$"'#$"5*M0$:"&%L5-`H
@0*);I'?)=3*+':*;*#'K+NCJO+
w*('/A+S'$;(K+2$%"(5"+'NCHS
K0*'"5%:"<)*'8)'?)=3*'50'8)E)5')*#"$'7%70*+'"*G'h"=5*&I%$:+'/*%-$'+,&+.5(.*+('%?+($+
"&."N'.5#$)'<0*'5=:)$0*0*'"5%:"<)*'D=)'";"$)&)5')5'<"'0E$"'8)'?)=3*+'#"5'*L<0'";"$)&)5'
80*'"5%:"<)*'7%70*1')<'&"E"<<0'3')<'&030#)+'#"<'&0:0'"5"<%4"'h"=5*&I%$:')5'*=')5*"30'
l6'(6'+1$?!6*+;+/*%+-$,+A";+"!5."&'(+I5I*(+'!+'&+"%#']-'
h"=5*&I%$:'0M$)&)'&0:0')U;<%&"&%L5')<'I)&I0'8)'D=)')5'":E0*'&"*0*+'?)=3*'*)'$)#%$"'8)'*='
;$0F$":"'8)')*&=<#=$"'*0&%"<+'3')5'":E0*'&"*0*'";"$)&)')5'=5')*;"&%0'&)$$"80+')5'8%^<0F0'
G5#%:0')5#$)'_<'3')<'"5%:"<?)=3*'$)"<%4"'=5"'#$"*<"&%L5+')5'D=)'";$07)&I"580'<"'&="<%8"8':G#%&"'8)<'"5%:"<+'<0F$"'=5"'
:%#%M%&"&%L5'%58%7%8="<'&0:0'"$#%*#"-`J
.5'NCHH'?)=3*'$)F%*#$L')<'t!"$#%80'!0<G#%&0'8)'<0*'/5%:"<)*u-
`H
`J
+w*('/A+S'$;(+J+75'+H\#5*!'!N+'6k)'f&I5))8)-'R)$<"F'W)$8'Q"#])+'f#=##F"$#'NCCO
h/6Yf9Qac>+'VI0:"*-'T.+<**+6'%+m$!(#+T+')5'[6YfV(Zc6>+'E8-'NJO'&";-aa
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#I@
9"!M#a)"&b>#<**4%'!5"
Z<)F'[=<%\
9"+4$'%#'+/%'(58!+6'+&"(+A$."!56"6'(+A"+"6*%.'156*+"&+"!5."&+'!+'&+('%+A$."!*N+F8&*+1$"!6*+1"6"+&$0+'!+
1"6"+'(1"/"%"#'+('+"/"L$'K+'&+"!5."&+6'(/'%#"%?+'!+&"+*(1$%56"6+;+%"/#"%?+"&+('%+A$."!*+A"15"+($+
5!#'%5*%-`P
2&+"!5."&+'(+56'"&+/"%"+$!+'(/'1#?1$&*+'%8#51*+/*%-$'+(5'./%'+('+%'(5(#'+"&+&'!L$"3'+;+"+&*(+
1865L*(+1$&#$%"&'(N+:"6"+$!*+6'+($(+.*I5.5'!#*(+'(+"$#*.?#51".'!#'+('6$1#5I*N+F'%+$!+
"!5."&+5./&51"+6'(/'%#"%+$!+1*!(#"!#'+5!#'%,(+'!+1$"&-$5'%+('%+A$."!*Nu_
Z<)F'[=<%\'*%#o"')<'"5%:"<'&0:0')<'"E*0<=#0'&)5#$0'8)'*='#$"E"]0-'.5'_<')U;05)'8%$)&#":)5#)'
*='&=)$;0')5'=5'%5#)$&":E%0'*)U="<'&05'"5%:"<)*-'.5'*='"5*%"'8)'%5#$08=&%$'"5%:"<%8"8')5'
<"*'&00$8)5"8"*'8)'<"'"<#"'&=<#=$"'<<)F"'"'"&=8%$'"'&="#$0';"#"*')'%5&<=*0'"':0$8)$'"'=5'
&0:%*"$%0'&05'*='#$"E"]0't,0F'Q0=*)u')5')<':"$&0'8)<';$03)&#0'T!#'%/*&'8)'.*#0&0<:0')5'
NCCH+'<0'D=)'<)7"5#"'=5"'F$"5';0<_:%&"/'<"'<=4'8)<'8)*"$$0<<0'"&#="<'I=:"50'3'*%F=%)580'<"*'"$F=:)5#"&%05)*'8)'c"3'[=$4k)%<'&05'
*='$"8%&"<'"M%$:"&%L5'8)'D=)'5=)*#$"')*;)&%)')5&=)5#$"'*=':0:)5#0'8)')70<=&%L5'"&#="<')5'
`P
`C
?c.,a[QaY/+'>%<"-'=A'+(".'N+2!#'%+F\*#5!5!K+."!+*!+"&&+4*$%(K+)5'mj9TmK+f&'LK+f&'L+m$&5\N+V)5A5&+5!+
A$."!$.+"."+"&5'!$.+/$#*V+P)*#A5!L+5!A$."!+5(+"&5'!+#*+.'Q+'[)$E)$'R)$<"F'ABBJ1
tVI)';0k)$M=<';$)**=$)'0M'I=:"5%#%)*'I"*';=#'#0'*<));'#I)'"5%:"<'%5'#I)'I=:"5'E)%5F-'Z5<3'kI)5'<%FI#'F0)*'
0=#'%5')7)$3'*I0k'k%580k+'#I)'"5%:"<'k"\)*'=;'%5'#I)'8"$\5)**'"58'$";)*'#I)'I=:"5'E)%5F'%5*%8)-'
?c.,a[QaY/+'>%<"-'=A'+(".'N+2!#'%+F\*#5!5!K+."!+*!+"&&+4*$%(K+)5'mj9TmK+f&'LK+f&'L+m$&5\N+V)5A5&+5!+
A$."!$.+"."+"&5'!$.+/$#*V+P)*#A5!L+5!A$."!+5(+"&5'!+#*+.'Q+'[)$E)$'R)$<"F'ABBJ1
#A'+"!5."&+5(+56'"&+4*%+"!+'%*#51+(A*R+C'1"$('+5#+"&R";(+%'(5(#(+&"!L$"L'+"!6+1$&#$%"&+1*6'(N+5#(+'I'%;+.*#5*!+
5(+"$#*."#51"&&;+('6$1#5I'NWC'5!L+"!+"!5."&+.'"!(+"%*$(5!L+1*!(#"!#+5!#'%'(#+5!+"!;+A$."!+C'5!LW
IJ#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
<"')70<=&%L5'8)'<"*':^D=%5"*+'D=)'=*"5'"<'*)$'I=:"50'&0:0'*=':)8%0'$);$08=&#0$HB+'Z<)F'
[=<%\')*'=5'F$"5'$0:^5#%&0+'D=)'8)*)*;)$"80+')5*=&%"80+'I)$%80+':"$F%5"<%4^580*)'3')5'
*0<%#"$%0+'):;$)58)'=5"'"&&%L5'7%*&)$"<')5'<"'D=)'8)5=5&%"')<'I)&I0'8)'D=)')<'I=:"50'50'*)'
"*0&%)':^*'"'<"*'50&%05)*'8)'x7%70x+'x*)5#%:%)5#0x+'t&0:;$)5*%L5u'*%50'D=)'&0:%)5&)'"'
"*0&%"$*)'&05'<"*'50&%05)*'8)'x"$#%M%&%"<x'3'x;)<%F$0*0x7$#8$'&"&$#6,"#8/+/*4>?
.5')*#)'#$"E"]0'8)'NCCJ+')<'"$#%*#"'$=*0')<"E0$"'=5"'7%*&)$"<'"&&%L5':"5%M%)*#0+')5'<"'D=)'
"M%$:"'D=)'<"'o5%&"'7G"';0*%E<)';"$"')<'I0:E$)')*'&05*#%#=%$'<"'M":%<%"'8)<'M=#=$0'8)'M0$:"'
:%U#"+';)$:%#%)580')<':"#$%:05%0')5#$)')*;)&%)*-'
/M%$:"'D=)'<"'M":%<%"'8)<'M=#=$0+'M":%<%"')5#$)')*;)&%)*+'%:;<%&"'=5'&05M0$#';)$:"5)5#)+'=5"'
*"#%*M"&&%L5';*%&0<LF%&"'3'):0&%05"<+'D=)'5=)*#$"'&=<#=$"'"&#="<'I"'8)*&=%8"80'3'D=)')*'
&<"7)';"$'"<"')70<=&%L5-'.*#0')*'%:;0*%E<)+'8%&)+'%:;0*%E<)'*)5#%$50*'M)<%&)*':%)5#$"*'I"3'
)*;)&%)*'D=)'"&#="<:)5#)'8)*";"$)&)5';"$"'*%):;$)+'&0:0'<0*'<0E0*'0'<0*'#%F$)*>)5&%05"')<')U;)$%:)5#0'8)'=5')U;)$#0')5'F)5_#%&"'D=%)5'%:;<"5#L'=5"'&%F0#0'&05'*)%*'
&$0:0*0:"*'I=:"50*')5')<'7%)5#$)'8)'=5'&)$80+'3'<0'"<"E"'&0:0'<"'7)$8"8)$"'&$)"&%L5'8)'
7%8"+'&0:0')<'%5M%5%#0';0#)5&%"<'8)'%5F)5%)$G"'F)5_#%&"!%#"$#*/3&$#5*48/%6$(#@448*,%&$>A
.5')<'&05#)U#0'8)')*#)'#$"E"]0+'[=<%\')<"E0$"'<0*'8%)4':"58":%)5#0*'8)'<"'400M$)5%"1
N- .<')*;G$%#='&$)"80$'50')*'"5#$0;0:0$M0A- .5&05#$"$'5=)*#$0'<=F"$')5')<':=580'$)"<'e"E*0<=#0+'%5&057)5&%05"<+'50e7%$#="<S- >0$"<';0*#eI=:"5"-'
O- .<'M=#=$0')*';0*#eI=:"50-'Y%')<'*=;)$I0:E$)'5%')<'I0:E$)'8)':"*"*'#%)5)5'M=#=$0'
`- .<'I0:E$)'8)E)')5&05#$"$'=5'0#$0'50'"5#$0;0:0$M0')5'*='%5#)$%0$.<'"<#)$')F0'8)<'I0:E$)')*'=5'"5%:"<'*=;$%:%80')5'*='%5#)$%0$+'=5"'&$%"#=$"'D=)'50';=)8)'
:)5#%$+'D=)'&050&)')<'*)&$)#0'8)'=5"')U%*#)5&%"'"$:L5%&"')5')<':=580'$)"<+'3'D=)'%F50$"'
)<';$0E<):"'8)'%8)5#%8"8-'K"'I%*#0$%"+'<"';0<G#%&"'3')<'"$#)'*05'=5'&<"$0'#)*#%:05%0'8)<'
HB
HN
HA
[6chb.aK+'c"3-'=A'+(5!L$&"%5#;+5(+!'"%-'R%\%5F'!)5F=%5+'K05805'ABB`
=A'+4".5&;+*4+#A'+4$#$%''y#$"8=&&%L5'8)'<"'"=#0$"z
7''/+5!#*+G$((5"-'h00M$)5%"'y#$"8=&&%L5'8)'<"'"=#0$"z
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#II
I)&I0'8)'D=)')<'I0:E$)'50'*)';=)8)'&05*#$=%$'"'*G':%*:0')5'0;0*%&%L5'"<'*#%*+y%5&<=%80'
)<'*)$'I=:"50zN
H- /:"$'"'=5'"5%:"<')5'#='%5#)$%0$')*'&0:;$)58)$'3'":"$"'"'&="<D=%)$"'D=)'7%7"'3'$)*;%$)'"'
#='<"80+'*)"'=5'I=:"50'0'=5';)$$0J- Y=)7"'&=<#=$"'8)'<"'500*M)$"'yY00*1')#%:0<LF%&":)5#)'<"'&";"&%8"8'8)'0<)$z
P- K"'M=5&%L5'8)<'"$#)')*')5&05#$"$'=5"':0$"<'M=5&%05"<';"$"'#080*'<0*'*)$)*'7%7%)5#)*C- r,L58)')*#^'<"';$=)E"'8)'D=)')<'"5%:"<'50';=)8)';)5*"$s'rfL<0';%)5*"*'"*G';0$D=)'50'
;=)8)'&%#"$'"',)<)=4)'"58'W="##"$%'3'*=')*#$"#)F%"';"$"'8)7)5%$'"5%:"<s'9"8"')*;)&%)'
E%0<LF%&"'#%)5)'*=';$0;%"'&=<#=$"'3'*=*';$0;%0*';$0E<):"*'<%5FXG*#%&0*NB- .<'I0:E$)')*#^')U&<=G80'8)'<"*'$)<"&%05)*')5#$)')*;)&%)*-'K"')U;"5*%L5'8)'<"':0$"<'"'
=5"':0$"<')5#$)')*;)&%)*')*'<"';$%5&%;"<':0$"<'8)<'<%E)$"<%*:0'3'<"'8):0&$"&%"7''/+5!#*+G$(5"+P2!+&"+%$(5"+/%*4$!6"Q+)*'=5'#$"E"]0')5')<'D=)'$)&0$$)'8%7)$*"*'F$"5]"*'
)*#"E<)&%)580'&00$8)5"8"*'*)U="<)*'&05'<0*'"5%:"<)*1':)#)'<"'&"E)4"')5'<"'7"F%5"'8)'=5"'
7"&"+'*%:=<"580'*=';$0;%0';"$#0+'8)]"'D=)'=5'&)$80'<)'I"F"'=5"'M)<"&%L5+';)5)#$"'"'=5"'
07)]"+'<)'I"&)'=5'&=55%<%5F=*'"'=5"'3)F="/<'%F="<'D=)'<0'I%&%)$"5'<0*'"&&%05%*#"*'7%)5)*)*+'3'I"E<"580'&05'!%)8"8'f0<"5*HS+'Z<)F'[=<%\'
"#$"7%)*"'=5"'405"'8)'"E3)&&%L5+'8)'"5%:"<%8"8+'8)')U&)*0+'8)'*=*#"5&%"-'K"'405"'50'
I0<<"8"';0$'<"'&=<#=$"+'<"'405"')5'D=)'*L<0'*)'"8)5#$"')<'$%#="<')5'=5'7%"])'3'&%$&=%#0';0$')<'
&0*:0*-'
f%5'):E"$F0'[=<%\'<"54"'=5"'<G5)"'I"&%"'M=)$"'8)'<0')*;)&GM%&":)5#)'I=:"50+')'%5&<=3)'<"'
$)<"&%L5'&05')<'"5%:"<-'>^*'"<<^'8)'<"';"*%7%8"8+'<"'80&%<%8"8'3')<')D=%<%E$%0'8)<'"5%:"<+'[=<%\+'
&0:0'I%&%)$"5'<0*'"&&%05%*#"*+'#)"#$"<%4"'<"'"E3)&&%L5')5'D=)'*)')5&=)5#$"5'%5:)$*0*'<0*'
%5*#%5#0*f%'E%)5')<':0:)5#0'8)'<0*'"&&%05%*#"*'7%)5)*)*'*)'%5*&$%E)'8)5#$0'#08"7G"'8)'<"*'
&00$8)5"8"*'8)<'"$#)'$)&%)5#):)5#)'*"<%80'8)'*='7%"])'"'#$"7_*'8)'<"'"E*#$"&&%L5+'Z<)F'[=<%\'
5)&)*%#"'<<)7"$<0'=5';"*0':^*'"<<^+'50'3"'$)M)$%$*)'"'5=)*#$"'"5%:"<%8"8+'8)5#$0'8)'5=)*#$"*'
;$0;%"*'&00$8)5"8"*+':^*'0':)50*'#):%8"*+'*%50';$"&#%&"$<"'&05'5=)*#$0*'%F="<)*+'<0*'
7)$8"8)$0*'*=&%0*'"5%:"<)*+')5'*=*')5#0$50*'*=&%0*-
HS
fZK/Yf'!%)8"8+'H115*!5(.*+D5'!,(N'Y)$)"+'Q058"$$%E%"'yW=%;o4&0"z'ABBB'
IS#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
[=<%\'E=*&"'*%#="$*)';0$'8)E"]0+'0';0$')5&%:"'8)'<"'&=<#=$"+'";"$#^580*)'8)'<0'D=)';"$"'
($)=8')*#^')5'<"'E"*)'8)'<"'&=<#=$"1')<'E%;)8%*:0+'<"';_$8%8"'8)'0<M"#0+'<"'7)$FX)54"+'<"'
&05*#"5&%"')5'<"')U&%#"&%L5'*)U="<+'<"'&05*;%&=%8"8'8)'<0*'F)5%#"<)*-'
[=<%\'D=%)$)'70<7)$'"<':0:)5#0'&=<#=$"<'E^*%&0+')5'*=*';%)4"*')<'"5%:"<')*')5&"$5"&%L5'8)'<0'
$)"<+'8)'<0'7%70-'905'*=*'"&&%05)*'[=<%\';$)#)58)')5&"$5"$'=5"'&$G#%&"'$"8%&"<'"<'<)5F="])'
&=<#=$"<+')5M"#%4"580'<"'5"#=$"<)4"'50e7%$#="<'8)'*=*')*&)5"$%0*'3'8)'*=*'F)*#0*B*42,.+4#C,%+$%$3#D#,3.$5$*$+,3>E-#AFF?
!.4"4GH$#6,#"$#',%+$"&6$6
K0*'"5%:"<)*'#"U%8_$:%&0*')5'Z<)F'[=<%\'"E$)5'<"'8%:)5*%L5')&0<LF%&"'8)'M0$:"'8%$)&#"+'D=)'
)*'<"';$%:)$"'<)&#=$"')5'*=';$03)&#0'b%580k*-'f%5'):E"$F0'*='8)*)0')*')U;"58%$<0'I"&%"')<'
&05&);#0'8)'<"''1*&*LO"+6'+&"+.'!#"&56"6-'
a5#$08=&)'<"'50&%L5'8)';"%*"])'&0:0'7)IG&=<0';"$"'*=:)$F%$50*')5'<0':^*';$0M=580'8)<'
<)5F=])+'8)'<"'I%*#0$%"'8)<'"$#)'0'<"'M%<0*0MG"-'90:0'=5"'M0$:"'8)'&=E$%$')*;"&%0*'$)"<)*'3'
:)5#"<)*.<'#$"E"]0'*)'*%#o"')5')<'<G:%#)')5#$)')<':=580'$)"<'3')<'%8)"<+')<':=580'8)'<0*':=)$#0*-'2&+
"!5."&+.$'%#*+'(+$!+(O.C*&*+;+/"%#'+5!65(/'!("C&'+6'+$!+*%6'!+(*15"&+'!4'%.*N+@'+L$(#"%O"+
-$'+'&+'(/'1#"6*%+/$65'('+1*!#'./&"%+'&+A*%%*%+6'+&"+%'"&56"6+"('(5!"6"+'!+'(#"+C'&&'0"N
.5')*#)'#$"E"]0'<"'*0M%*#%&"&%L5'#)&50<LF%&"'D=%)$)'"5"<%4"$'<"*'#_&5%&"*'8)'0E*)$7"&%L5'3'
;)$&);&%05)*'7%*="<)*-'K"';"$)]"'":0$0*"'*)';)$&%E)'$)M<)]"8"')5')<'&$%*#"<+'<"';"$)]"'50')*#^'
<"'0#$0'<"80+'*%50'"D=G+'"<'<"80'8)<')*;)&#"80$+'"')*#)'<"80'8)'<"'7)5#"5".*'=5'"5^<%*%*'8)<':"$F)5'#$"5*;"$)5#)')5#$)'<0'7%$#="<'0'%<=*0$%0'3'<0'$)"<-'2(+654O15&+'&5.5!"%+&*+
65"C8&51*+6'+!*(*#%*(K+6'+.*6*+-$'+'(+%"0*!"C&'+6'."!6"%+"%#'+'!+'&+0**&8L51*+;+,#51"+'!+
&*(+'d/'%5.'!#*(+'(#,#51*(N
HO
[5!6*R(+/%*3'1#'y#$"8=&&%L5'8)'<"'"=#0$"z
A59B9CDE#2#&*(+"!5."&'(+!*+('+654'%'!15"!X+6'+&*+-$'+1*./"%#5.*(#X#I?
#!"#'/3,4#6,#"$#%$+/*$",0$-#4#,"#%/,C4#5$*$H34#AFFFIAFF?><
2&+.";*%+/%*C&'."+A*;+'(+&"+1*&5(58!+'!#%'+!"#$%"&'0"+;+1$&#$%"N+2&+A*.C%'+
A"+#%"515*!"6*+&"+!"#$%"&'0"K+-$'+(*C%'I5I'+1*.*+#%*4'*(+'!+&*(+.$('*(+
0**&8L51*(N+2(+&"+1*!('1$'!15"+6'+&"+15I5&50"158!N+@5+#"%'"+'(+%'I'&"%+'&+
'&'.'!#*+"!5."&+'!+'&+('%+A$."!*N+H&+.'!*(+'!+/"%#'N
f&'L+m$&5\K+=A'+.$('$.+*4+!"#$%'+*%+#A'+!'R+/"%"65('ttN+
kee^+
H`
HH
HJ
Z<)F'[=<%\+'@$('$.+*4+)"#$%'+P)'R+>"%"65('Q+t`K+
kee^
=A'+.$('$.+*4+!"#$%'+*%+#A'+!'R+/"%"65('+y#$"8=&&%L5'8)'<"'"=#0$"z2&+.$('*+6'+&"+!"#$%"&'0"K+*+'&+!$'I*+/"%"O(*'y#$"8=&&%L5'8)'<"'"=#0$"z
>%*;'1#*+I'!#"!"(~+'(1"/"%"#'('y#$"8=&&%L5'8)'<"'"=#0$"z
<;B7;8E#0#<5K6<5E#L#'&+&$L"%+6'+/%*1'6'!15"+'(+&*+*%L?!51*X#IO
<;B7;8E#0#<5K6<5E#L')<'<=F"$'8)';$0&)8)5&%"')*'<0'0$F^5%&0
Z$'+'&+%5#.*+&'!#*+6'+&"+'I*&$158!+L'!,#51"+'&+-$'+6'#'%.5!8+'&+&'!#*+"I"!1'+6'+&"+1$&#$%"N+
7'(/$,(+6'&+x("&#*x+'&+6'("%%*&&*+1$&#$%"&+6'38+6'+6'/'!6'%+6'+&*(+1".C5*(+L'!,#51*(N+9"+
1$&#$%"+A"+'I*&$15*!"6*+.$1AO(5.*+.?(+'!+&*(+c&#5.*(+aeNeee+"b*(+-$'+'!+&*(+.5&&*!'(+6'+
"b*(+/%'I5*(+6'+&"+A5(#*%5"+6'+&"+A$."!56"6K+/'('+"+&"+5!(5L!5451"!15"+6'+&"(+
#%"!(4*%."15*!'(+"!"#8.51"(+*1$%%56"(+'!+'(#'+#5'./*NHP
K"#\*M$%F#+!"#"!%M)$c!#0#"$#G*$'J+&.$#/%&C,*3$"
V(5+/$'6'+/'!("%('+&"+5!'d5(#'!15"+6'+"&L*+.";*%+-$'+&*+1$"&+!*+/$'6'+
/'!("%('+!"6"K+"-$'&&*+.5(.*+.";*%+-$'+&*+1$"&+!"6"+/$'6'+('%+/'!("6*+
!*+'(+"&L*+.";*%+-$'+&*+1$"&+!"6"+/$'6"+('%+/'!("6*X+;+'(*+%'($&#"+
1*!#%"651#*%5*N+H(OK+/$'(K+'(+#"!+15'%#*+-$'+'d5(#'+"&L*+.";*%+-$'+&*+1$"&+!*+
/$'6'+/'!("%('+1*("+"&L$!"K+-$'+'(+5./*(5C&'+/'!("%+-$'+!*+'d5(#"NW+
>%*(&*L5*!+6'+F"!+H!('&.*t_
f"E):0*':=&I0+'3'<0'D=)'*"E):0*+'*"E):0*'D=)')*'8%M)$)5#)'8)'"D=)<<0'D=)'50*'
&05#":0*-'f"E):0*'D=)'*"E):0*+'"=5D=)'50'*);":0*'8)&%$<0g'50*'M"<#"')<'<)5F="])';"$"'
8)&%$'<0'D=)'*"E):0*-'!)$0'*"E):0*'&05'5=)*#$0'&=)$;0-'f%5'):E"$F0+'"=5D=)'*"E):0*'
D=)'50'*"E):0*'8)&%$'<0'D=)'*"E):0*+'50*'%5#)5#":0*'#$"8=&%$'"';"<"E$"*-'Y0*0#$0*'8%&I0*+'
)*'"<F0'D=)'50*'%5#)$)*"':=&I0-'Q):0*'<0F$"80'8)*"$$0<<"$'=5'<)5F="])';"$"')*0-'Y=)*#$0'
<)5F="])'"5"<G#%&0')*'8%7)$#%80'3'&0:;<%&"80-'65')U#$"p0')5#$":"80-'K0*'70&"E=<"$%0*'
)*;)&%"<%4"80*'*05'058"*'8)'5=)*#$0'$)M<)]0+'3')<'$)M<)]0':%*:0+'&0:0')5')<':%#0'8)'Y"$&%*0+'
D=)8"'8)*#$=G80!)$0+'r3')<'<)5F="])')*;)&%"<%4"80'8)<';0)#"s'*=*'058"*')*#^5'$)&<=%8"*'"'=5"')*M)$"'
"<#":)5#)';$%7"8"+')U&<=G8"'8)'<"':"5"8"+'8)'<0'*0&%"<-'
@=5#0'&05'<0*'&I%:;"5&_*';%F:)0*+';"$)&)'*)$'D=)'*0:0*'<"*'o5%&"*')*;)&%)*')5#$)'<0*'
;$%:"#)*'D=)'50*'$)#%$":0*'8)<'F$=;0')5';"$)]"*';"$"'#)5)$'$)<"&%05)*'*)U="<)*-'V":E%_5'
HP
HC
,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,+'.*;"p"+')8-',)E"#)'ABBO
(.cc/V.c'>Zc/+'@0*_-'75115*!"%5*+6'+Z5&*(*4O"+6'+C*&(5&&*+'>"8$%8+'/<%"54"'.8%#0$%"<'ABBA+';-HOS'!$=)E"'
05#0<LF%&"
I[#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
;"$)&)'D=)'*0:0*'<0*'o5%&0*'D=)'50*':%$":0*'"'<0*'0]0*+'D=)'50*'";"$)":0*'8)'M$)5#)+'3'
#":E%_5'*0:0*'*=;=)*#":)5#)'<"*'o5%&"*'I):E$"*'D=)'#)5):0*'%5%&%"#%7"'*)U="<-'
r.*')<'":0$')<'D=)'50*'$)#%$L'8)<'F$=;0';"$"'M0$:"$')<'70&"E=<"$%0')*;)&%"<%4"80'8)<';0)#"s'
0'r*05'<"*':0*&"*'<"*'D=)'50*'%5#)$5"$05')5'=5'<"E0$"#0$%0';"$"'D=)'8)*&=E$":0*')<'F)5'
(Z{!A+')<'xF)5'8)<'<)5F="])xs'
r9=^<')*')<'0$8)5'$)"<'8)'<0*')<):)5#0*'F$":"#%&"<)*'8)'=5"'M$"*)s+'r)*'*)F=$0'D=)')*')<'
*=])#0'8)'=5"'M$"*)')<'7)$8"8)$0'*=])#0'8)'<"'"&&%L5s+'r50'*)$^+')5'$)"<%8"8+')<'*=])#0'8)'<"'
704';"*%7"')<'7)$8"8)$0'*=])#0'8)'<"'"&&%L5s
V"<'7)4'<"':"5"8"'*L<0';=)8"')U;$)*"$*)')5'#_$:%50*'8)'"5^<%*%*+'3')<'"5^<%*%*')*'#"5'*L<0'
=50'8)'<0*'"5%<<0*'D=)'*=$F)5'8)'<"'8)*#$=&&%L5'8)'<"'%:"F)5'8)';"$#%8"-'/I0$"')5'0&&%8)5#)'
3"'#080*':"5)]":0*')<')U#$"p0'70&"E=<"$%0'#)$";_=#%&0'0';*)=80&%)5#GM%&0'&05')<'D=)'
)U;<%&":0*'5=)*#$"*';"*%05)*g'#":E%_5'"D=G'I"'8)*#)$$"80')<'<)5F="])'"5"<G#%&0'"<'<)5F="])'
;0_#%&0K"')U;$)*%L5'8)'<0*'*)5#%:%)5#0*+'8)'<"'D=)'*0:0*'&";"&)*+'*)'&057%)$#)';0$'<0'F)5)$"<')5'
"<F0'$);)#%80'3'#0$;)+'"<F0'D=)';"$)&)'#0&"$'M0580'";)5"*'&0:%)54"'"'M0$:=<"$*)-'fL<0'
"<F=50*';0)#"*';=)8)5')U;$)*"$')5'"<F=5"':)8%8"'5=)*#$"*';"*%05)*'3'7%*%05)*+'&05'
:=&I"'8%M%&=<#"8'3')U#$"p"*'#0$*%05)*'8)<'<)5F="])+'0'8)'<"*'M0$:"*9*(+&5!LU5(#"(+A"!+"!"&50"6*+&*+-$'+'!+%5L*%+1"C'+6'!*.5!"%+V"L%"."#51"&56"6WN+2!1*!#%".*(+
'3'./&*(+.c&#5/&'(+;+6'+L%"!+5!#'!(56"6+'!+'&+/*'#"+".'%51"!+:$..5!L(J+"(OK+VB'+6"!1'6+
A5(+656WK+1*.*+(5+653,%".*(+V'&+C"5&8+($+'3'1$158!W+'!+&$L"%+6'+V,&+'3'1$#8+($+C"5&'WN+F'Lc!+
)51*&"(+G$R'%#K+/*6%O".*(+($/*!'%+$!"+('%5'+6'+I"%5"!#'(+L%"."#51"&'(+$($"&'(K+1*!+
%'(/'1#*+"+&"(+1$"&'(+&"+48%.$&"+"L%"."#51"&+('+1*./*%#"%O"+1*.*+$!+&O.5#'N`e
a5&=$$%$')5'<"'"L%"."#51"&56"6+;"$)&)'*)$'<"'o5%&"'M0$:"'8)'*058)"$')<'<=F"$';$0M=580'D=)+'8)'
0#$0':080'*)'"80$:)&)')5')*#$=&#=$"*'I)&I"*+'%5&";"&)*'8)'&0:=5%&"$'8)*8)')*)'<=F"$'8)<'
D=)':"5"5'<"*'):0&%05)*+'D=)')5'8)M%5%#%7"'*05'<"*'D=)'F)*#%05"5')<'0$F"5%*:0+'*='D=G:%&"+'
3';0$')58)'<"*'%8)"*-
JB
,.K.6h.+'W%<<)*+'S"%#&'C;+*+&"+48%.$&"')5'>%'4'%5%O"+!*+A"1'%&*K'!$)eV)U#0*+'R"<)5&%"'ABBN
<;B7;8E#0#<5K6<5E#L#'&+&$L"%+6'+/%*1'6'!15"+'(+&*+*%L?!51*X#IU
,)'%F="<'M0$:"+';"$)&)'D=)'<0*'&":E%0*')70<=#%70*'*)'8"5'&05'<"'F$"8="<%8"8')U;$)*"8"';0$'
,"$k%5+';)$0'#":E%_5')5':0:)5#0*'8)'=5"':=#"&%L5'$);)5#%5"'8)'=5'F)5+'=5"'
"L%"."#51"&56"6')5'<"'D=)'%5&=$$)')<'F)50:"';"$"'F)5)$"$'&":E%0*K0*';0)#"*'3')<'<)5F="])-'.<'<)5F="])'3'<"'&%)5&%"-'K"'&%)5&%"'3'<0*'&%)5#GM%&0*-'K0*';0)#"*'3'
<0*'&%)5#GM%&0*-'r'f05'<0*';0)#"*'"5%:"<)*'3'<0*'&%)5#GM%&0*':^D=%5"*s'r;08$^'5=)*#$"'
)*;)&%)'8%7)$F%$+'3'M0$:"$'80*'#%;0*'8)'&%=8"8"50*+')<'I=:"50'3')<'$);<%&"5#)+'&0:0'*)'
;$0;05)')5'S&"6'+G$!!'%`^s'r)<'"5%:"<e"5%:"<'3')<'"5%:"<e:^D=%5"s
Y0'*"E):0*'&=^5#0*'"p0*'I):0*'5)&)*%#"80';"$"'&0:;05)$'5=)*#$0'<)5F="])+'0':)]0$+'
;"$"')*#"E<)&)$'=5"')D=%7"<)5&%"')5#$)'5=)*#$"*'%8)"*'3'<0*'*05%80*'8)'D=)'*0:0*'&";"&)*+'
;)$0')<'F)5'(Z{!A'D=)'F)5)$"'<"'&";"&%8"8';"$"')<':%*:0')U%*#)')5'<0*':":GM)$0*'8)'
M0$:"'&"*%'%8_5#%&"')5'#080*')<<0*'8)*8)'D=)'*=$F%)$05+'I"&)'NSB':%<<05)*'8)'"p0*K0*'F)5)*'*05'<"*'ML$:=<"*';"$"'&05*#$=%$';$0#)G5"*-'K"*';$0#)G5"*'*05'<"$F"*'&"8)5"*'8)'
":%50^&%80*-'.<'F)5'(Z{!A'&05*#$=3)'=5"';$0#)G5"'M0$:"8"';0$'JN`'":%50^&%80*-'fL<0'S'
8)')*#0*'JN`'":%50^&%80*'*05'8%M)$)5#)*')5#$)'I=:"50*'3'$"#05)*+'3'*L<0'80*'*05'8%M)$)5#)*'
)5#$)'I0:G5%80*'3';$%:"#)*.*'8)&%$+'D=)'"'<0'<"$F0'8)'<0*'NSB':%<<05)*'8)'"p0*'8)'<"')70<=&%L5'8)')*#)'F)5+'*L<0'*=M$%L'
=5'&":E%0'8)'":%50^&%80'I"*#"'I"&)'OB-BBB'"p0*-',)*8)')5#05&)*'eM)&I"*')*#%:"8"'
&0%5&%8)5#)'&05'<"')U;"5*%L5'8)<'I0:0'*";%)5*';<)5":)5#)':08)$50e'I"'*=M$%80'0#$0*'80*'
&":E%0*-JA'
.*"')*'<"'8%M)$)5&%"'F)5_#%&"')5'<0'$)<"#%70'"'<"'&";"&%8"8'8)'<)5F="])-'A')<):)5#0*'8)'<0*'
JN`'D=)'M0$:"5'<"*'%5*#$=&&%05)*';"$"'<"'&$)"&%L5'8)'<"'&";"&%8"8'F$":"#%&"<-'
f)Fo5'f":;)8$0+'#080*'<0*':%):E$0*'8)'5=)*#$"')*;)&%)'e3'5%5Fo5':%):E$0'8)'0#$"*'
)*;)&%)*e'5"&):0*'&05'=5"*'$)8)*'5)=$05"<)*')*;)&%"<%4"8"*')5'";$)58)$'"'I"E<"$-'!0$'
)*0+'#"<'&0:0'"8=]0'Y0":'9I0:*\3+'"<'5%p0'<)'E"*#"'0G$'=5"*'&="5#"*'M$"*)*'*=)<#"*')'
%5&05)U"*+'*%5'5%5Fo5'";$)58%4"])'M0$:"<+';"$"'8)8=&%$'=5'*%*#):"'M05_#%&0'3'*%5#^&#%&0'
JN
JA
f9ZVV+'c%8<)3-'S&"6'+G$!!'%+'NCPA
f/>!.,cZ+'@"7%)$-'l:*!+-$,+($'b"!+&"(+.*(1"(]K+.*;"p"+')8-'/F=%<"$+'ABBO
SW#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
&0:;<)#0+'&";"4'8)';$08=&%$'%5M%5%#"*'*)5#)5&%"*'5=5&"'"5#)*'0G8"*-'/')*#)'M)5L:)50'
9I0:*\3'<0'<<":L'F$":^#%&"'F)5)$"#%7"-'
Q"*#"')5#05&)*'yNCJ`z+'*)'&$)G"'D=)'<"'"8D=%*%&%L5'8)<'<)5F="])+'&0:0'&="<D=%)$'0#$"'
8)*#$)4"'I=:"5"+'*)';$08=&G"';0$':)8%0'8)<'";$)58%4"])'3'8)'<"'"*0&%"&%L5-'f%5'):E"$F0+'
9I0:*\3';0*#=<"E"'<"')U%*#)5&%"'8)'=5'8%*;0*%#%70'&)$)E$"<'%55"#0'y)<'mL$F"50'8)<'<)5F="])mz+'
D=)';)$:%#)'";$)58)$'3'=#%<%4"$')<'<)5F="])'8)'M0$:"'&"*%'%5*#%5#%7"-'90:;$0EL'"8):^*'D=)'
<0*';$%5&%;%0*'F)5)$"<)*'"E*#$"&#0*'8)'<"'F$":^#%&"'*05'=5%7)$*"<)*')5'<"')*;)&%)'I=:"5"'3'
;0*#=<L'<"')U%*#)5&%"'8)'=5"'•%".?#51"+j!5I'%("&K"'F$":^#%&"'F)5)$"#%7"'8)'9I0:*\3'M=)'<"';$%:)$"')7%8)5&%"'*L<%8"'8)'D=)'<"'%5#)<%F)5&%"'
I=:"5"')*#^'E"*"8"')5'8%*;0*%#%70*'&)$)E$"<)*')*;)&%"<%4"80*')'%55"#0*'3')*0'I"';)$:%#%80'
)<'"F$=;":%)5#0'8)'<"*'&%)5&%"*'&0F5%#%7"*-'
/<)&'[5%FI#+'F)5)#%*#"+'I"'%57)*#%F"80'F)5_#%&":)5#)'"'<0*';=)E<0*'D=)'I03'I"E<"5'=5'F$=;0'
8)'<)5F="*'<<":"80'[I0%*"5g'*=*';$=)E"*';"$)&)5'&05M%$:"$'<"'I%;L#)*%*'8)'D=)')*')<'
<)5F="])':^*'"5#%F=0'8)'<"'I%*#0$%"'8)'<"'I=:"5%8"8-'K"'M":%<%"'8)'<)5F="*'$)<"&%05"8"*'&05'
)<'\I0%*"5'*)'&"$"&#)$%4"5';0$')<'=*0'8)':^*'8)'N`'&I"*D=%80*'8%*#%5#0*'y&<%&\'E%<"E%"<1')<'
*05%80'8)'=5'E)*0+')<'*05%80'8)'M"*#%8%0+')#&-zg'7"$%0*';=)E<0*'"M$%&"50*'I"E<"5'I03')*)'
F$=;0'8)'<)5F="*-JS
!"$)&)'D=)'<"'&0:=5%&"&%L5')5#$)'<0*'8)<M%5)*+'*='<)5F="])+'%5&<=3)'<0*'&I"*D=%80*-'K0*'
8)<M%5)*---'>%)5#$"*'&$)&):0*'3'50*'M0$:":0*+'<"*'&<"*%M%&"&%05)*'M=5&%05"5+';)$0'";)5"*'*)'
&0:%)54"'"'%58"F"$+'"';)5*"$+'"'8)8=&%$'&05')<':"#)$%"<'"&=:=<"80'"'<0'<"$F0'8)'<0*'"p0*+'
<"*'M$05#)$"*'&0:%)54"5'"'8%<=%$*)+'<0'D=)')$"'<)3)58"+'&0:%)54"'"'#$"*<"8"$*)'"<'$)%50'8)'<0'
;0*%E<)-'K0*'I=:"50*+'<"*'E"<<)5"*+'<"*'*%$)5"*--fC('%I"%+"+&*(+.*!*(+I'%I'#+L%$b,!6*('+'!#%'+(OK+'(+"&L*+.$;+/"%'156*+"+*C('%I"%+"+I"%5*(+
A$."!*(+'!4%"(1"6*(+'!+$!"+1*!I'%("158!+(5!+/*6'%+*5%+&*+-$'+651'!+rNNNs+9*(+L*%5&"(+
("&I"3'(+"+I'1'(+/"("!+&"%L*+%"#*+('!#"6*(+'!+L%$/*K+&"!0"!6*+L%$b56*(+'!+$!"+"/"%'!#'+
JS
f/>!.,cZ+'@"7%)$-'l:*!+-$,+($'b"!+&"(+.*(1"(]+')8-'/F=%<"$+'ABBO+';-NJS
<;B7;8E#0#<5K6<5E#L#'&+&$L"%+6'+/%*1'6'!15"+'(+&*+*%L?!51*X#S4
3'%5L*!0"+5!654'%'!15"6"K+;+"&+1"C*+6'+$!+#5'./*+#*6*(+('+&'I"!#"!+6'+1*.c!+"1$'%6*+;+('+
65%5L'!+'!+&"+.5(."+65%'1158!N`a
m"!05N+Sf)fSfN+H6-$5%58+'&+&'!L$"3'+6'+4*%."+'(/*!#?!'"X+4"C%51"+A'%%".5'!#"(+
'-$5/"%"C&'(+"+&"(+6'+&*(+('%'(+A$."!*(+/%5.5#5I*(K+A"C&"+$#5&50"!6*+.?(+6'+Yte+(O.C*&*(+
6'+$!+#'1&"6*+;+1*./%'!6'+.5&'(+6'+/"&"C%"(+A"C&"6"(X+4*%."+4%"('(K+(5L$'+5!(#%$115*!'(+
-$'+*;'+/*%+/%5.'%"+I'0N+
nF5+1*!I5I5,%".*(+1*!+&*(+C*!*C*(+^u+"b*(K+&*(+C*!*C*(+('%O"!+.'!*(+C*!*C*(+;+&*(+
A$."!*(+.'!*(+A$."!*(K+'!+%'"&56"6K+!*+(*.*(+.$;+654'%'!#'(N+1%''.*(+-$'+/*6%O"+'(#"%+
"%#51$&"!6*+/"&"C%"(+5!L&'("(K+/'%*+6'."(5"6*+%?/56*+;+'!+$!+#*!*+6'."(5"6*+'(#%56'!#'+
/"%"+-$'+/*6".*(+'!#'!6'%&"(Nn`u
.5';"<"E$"*'8)'@"$)8',%":058+'(5+#'!'.*(+'!+1$'!#"+&"(+65451$&#"6'(+-$'+'!1*!#%".*(+1*!+
565*."(+-$'+!*+(*!+'&+!$'(#%*K+/*%+'3'./&*K+'&+4%"!1,(K+-$'+'(+$!+565*."+('!15&&*+'!+
1*./"%"158!+1*!+&"+&'!L$"+5;"$+6'+&"(+&&"!$%"(+/"!#"!*("(+6'+!$'I"+L$5!'"K+6*!6'+$!"+
(*&"+I*1"&+#5'!'+*1A*+(5L!5451"6*(+6'/'!65'!6*+6'&+#*!*+'!+-$'+('+/%*!$!15'K+1$?!+&"%L*+!*+
('%?+'&+1".5!*+-$'+!*(+-$'6"+/*%+%'1*%%'%+'!+&"+1*./%'!(58!+6'&+I*1"C$&"%5*+6'+&*(+
"!5."&'(-JH
.<'8)7)5%$'"5%:"<'8):"58"'D=)')<'F$%#0'"5%:"<'*)'I"F"')U;<%&%#":)5#)'<)5F="])+'M0$:"-JJ
f%'<"'<LF%&"'8)<'<)5F="])')*#^')5'#080+'3'#":E%_5'&05')<'<)5F="])+'&0:0'&05'<0*'F)5)*'*)'
;=)8)'$)"<%4"$'=5"';"<)05#0<0FG"'<%5FX%*#%&"+')*#0'8)E)$G"'8):0*#$"$'D=)'*05'<0*'F)5)*'<0*'
D=)'I"E<"5';0$'5=)*#$"'E0&"-
JO
J`
JH
JJ
,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,+'.*;"p"+')8-',)E"#)'ABBO+';-A`B
Y"#%05"<'F)0F$";I%&')*;"p"-':"$40'ABBP
,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,+'.*;"p"+')8-',)E"#)'ABBO
fV.c9[{+'!%)$$)-'9'+6'I'!5%M1*1A*!+6'+[5.+7'&I*;'+'?_<F%&"+'K"'<)##$)'70<_)+'ABBJ
S@#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
P>#`F,d#A)*b&
743#5,**43
>-'@0*_'?=$\%-'9'(+1A5'!(`o+'NCC`
K0*')<):)5#0*'&05'<0*'D=)'#$"E"]"'>"$G"'@0*_'?=$\%'*)'0$8)5"5'&0:0'<)U):"*';"$"'
)*#"E<)&)$'=5"'&0:=5%&"&%L5'D=)'F)5)$"'=5')U#$"p0']=)F0'"<'*)$7%$*)'8)'5=)*#$"*'M"&=<#"8)*'
8%*&=$*%7"*';"$"'"&&)8)$'"'=5'^:E%#0'8)';)$&);&%L5'8058)'<0*'*%F5%M%&"80*'*=$F)5'"<'
:"$F)5'8)'<0*'&L8%F0*'&05'<0*'D=)'"&0*#=:E$":0*'"')U;<%&"$50*'<"*'&0*"*-'
K0*')<):)5#0*'D=)'=*"';)$#)5)&)5'"'5=)*#$"'&08%M%&"&%L5':^*'&0#%8%"5"1'<"'#)<)7%*%L5+'=5"'
M%F=$"'D=)'50*':%$"+'=5"'<0&=&%L5'D=)'<0'"&0:;"p"-'K"'%:"F)5')5')<':05%#0$')*'=5"'%:"F)5'
&"$)5#)'8)'"$#%*#%&%8"8+'=5"'%:"F)5'D=)'#":;0&0')*'80&=:)5#"<+'<"'%:"F)5'8)'=5'*)$'D=)'
&05':%$"8"'M%]"'*)'8%$%F)'"'50*0#$0*g'=5"'%:"F)5'"E*=$8":)5#)'&05F)<"8"')5')<':"$&0'8)'=5'
0E])#0'#"5')U#$"p":)5#)'80:_*#%&0+'<"'#)<)7%*%L5+':%)5#$"*'=5"'704')5'0MM')5=:)$"+'0'):%#)'
*)5&%<<0*'3')U#$"p0*'"U%0:"*+'&0:0'8)'=5"'&<"*)'8)';$%:"$%"')5'<"'D=)'";$)58):0*'
*)5&%<<"*'0$8)5"&%05)*'F$":"#%&"<)*'"'#$"7_*'8)')U#$"p0*'*%F5%M%&"80*1':%':":^':)':%:"+'
>"50<%#0'7"'&05'*=*';";^*'"<'&":;0+'9";)$=&%#"'<<)7"';"*#)<)*'"'*='"E=)<%#".5')<'#$"E"]0'9'(+1A5'!(+P9*(+/'%%*(Q'8)'NCC`+'=5';)$$0'8)'=5"'$"4"'&0:o5'0E*)$7"'
M$05#"<:)5#)'"<')*;)&#"80$+'*=':%$"8"'*)'8%$%F)'M%]"+'8)*8)'=5"'#)<)7%*%L5'*%#="8"')5')<'*=)<0+'
"<'7%*%#"5#)g'=5"':%$"8"'D=)')*&";"')<':"$&0'8)'<"'#)<)7%*%L5';"$"'8%$%F%$*)'8%$)&#":)5#)'"'<"'
JP
9*(+/'%%*(
<;B7;8E#0#<5K6<5E#L#'&+&$L"%+6'+/%*1'6'!15"+'(+&*+*%L?!51*X#SJ
:%$"8"'8)<'D=)'<)'0E*)7"+'=5'*)$')5&)$$"80')5'=5';<"50'8)'$)"<%8"8'M%&#%&%"'e<"'#)<)7%*%L5'y<"'
#)<);$%*%L5ze'8)*8)')<'D=)'0E*)$7"-'
K"'704')5'0MM')5=:)$"')5'=5"'<)#"5G"'=5'*%5MG5'8)'$"4"*'8)';)$$0*'8)';)8%F$G+'*)'*=&)8)5'<0*'
50:E$)*+'*)'"<#)$5"5'<0*'%8%0:"*+':%)5#$"*')<';)$$0'*%F=)'0E*)$7^58050*'8)*8)'*='
%58%M)$)5&%"+'$08)"80'8)')<):)5#0*'#"5')*)5&%"<)*'8)'5=)*#$"'&=<#=$"1')<'<)5F="])'7)$E"<+'<"'
$)#$"5*:%*%L5+'<"'&<"*%M%&"&%L5g'<"'&<"*%M%&"&%L5'8)'0$8)5'5"#=$"<+'3'<"'&<"*%M%&"&%L5'*0&%"<'3'
)&05L:%&"K"'&0:=5%&"&%L5'D=)'*)')*#"E<)&)')*'&";"4'8)'I"&)$50*';)$&%E%$'$^;%8":)5#)+';)$0'50'50*'
;)$:%#)'8)*&%M$"$'8)'M0$:"'&05*&%)5#)-'Q"3'8):"*%"8"'%58%M)$)5&%"+'8):"*%"8"'%5:)8%"#)4'
8)':)5*"])')5'<"'&0:;0*%&%L5'&05'<0*')<):)5#0*'*)<)&&%05"80*g')<';"*"])'8)<':=580'M%&#%&%0'
"'<"'$)"<%8"8';0_#%&"'8)<':=580'*)'$)"<%4"'"'#$"7_*'8)'<"'%58%M)$)5&%"-'K0'D=)'7):0*+'3'<0'D=)'
50'*"E):0*'*)')5&%)$$"')5'=5"'=5%8"8'8)')<):)5#0*'":"<F":"80*';0$'<0*'7"&G0*'8)'
&050&%:%)5#0-'K"':%$"8"'8)<';)$$0'"'<"'<=4'8)<'"=8%0'D=)'<0'"&0:;"p"'&=)*#%05"'
8%$)&#":)5#)'<"'50&%L5'8)'%8)5#%8"8-'
K*$6/..&4%,3
>-'@0*_'?=$\%+'=%"!(&"#5*!(+'NCC`
V$)*'#)<)7%*0$)*'*0E$)';)8)*#"<)*g'#$)*';)$*05"])*'";"$)&)5')5')*#)'#$"E"]01'=5'&)$80+'=5'
I0:E$)'3'=5';)$$0'D=)'7"5'&":E%"580'8)'#)<)7%*0$-'V$)*'%8%0:"*';"$"')<'"=8%01'M$"5&_*+'
%5F<_*'3')*;"p0<-'
SI#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
.<';)8)*#"<'&0:0'<)U):"'D=)'0#0$F"'=5'<=F"$'o5%&0'3'8)*#"&"80'D=)'0E<%F"'"'=5"'M0$:"'
)*;)&GM%&"'8)'$)&);&%L5-'.<':=*)0'e3';0$'#"5#0'<"'$)&);&%L5':08)$5"'8)<'"$#)e'5"&)'8)'<"'
%5D=%)#=8'8)'$)=5%$';"$"'*='0E*)$7"&%L5'<"*'&=$%0*%8"8)*'D=)'*)')5&05#$"E"5'"'<0'<"$F0'3'
"5&I0'8)<':=580g')5'_<'&057%7G"5'"5%:"<)*')UL#%&0*']=5#0'"')*&=<#=$"*'8)'<=F"$)*'<)]"50*'0'
;0$&)<"5"*'3'#$"E"]0*'0$M)E$)*g'#$"*'=5';$0&)*0')5'D=)'#080'<0'D=)'*)';=)8)'<%F"$'"<':=580'
&%)5#GM%&0'8)')5#05&)*'"E"5805"')<'I0F"$'&0:o5';"$"')*#"E<)&)$*)'"<':"$F)5+'5"&)')<'
:=*)0')*;)&GM%&":)5#)'8)8%&"80'"<'"$#)-'
.*#)'#$"E"]0'*)';=)8)'%5#)$;$)#"$'&0:0'=5"'7=)<#"'"'"D=)<'<=F"$':%*&)<^5)0g')5'_<'*)'
&05*)$7"')<';)8)*#"<';$0;%0'8)<':=*)0'8);=$"80+')<'#)<)7%*0$'&0:0'0E])#0'D=)'*)$G"'
I"E%#"5#)'5"#=$"<'8)'=5'F"E%5)#)'8)'&=$%0*%8"8)*'8)<'*-{{+'3')<'"5%:"<'D=)'M=)'7)$8"8)$0'
;$0#"F05%*#"'8)'<"';0;=<"$%8"8'8)'"D=)<<0*')*;"&%0*'5"&%)5#)*-'f%5'):E"$F0'"I0$"'3"'50')*'
=5'"5%:"<')UL#%&0+'*%50')<')U0#%*:0'8)<'"5%:"<'7=<F"$+'8)<'#$"E"]"80$'8)'&<"*)':)8%"-'
/5%:"<)*'#$"E"]"80$)*+')<)7"80*'"<'$"5F0'8);=$"80'8)'<"'&05#):;<"&%L5'"$#G*#%&"V$)*'#)<)7%*0$)*'*0E$)'#$)*';)8)*#"<)*'&05'#$)*';)$*05"])*'3'#$)*'%8%0:"*';"$"')<'"=8%01'
M$"5&_*+'%5F<_*'3')*;"p0<-'2'*)5&%<<"*'M$"*)*'&0$#"*'8)'*=])#0'7)$E0'3';$)8%&"80+'F)5)$"580'
)U#$"p0*'*%F5%M%&"80*')5'<0*'D=)')<'0$8)5'])$^$D=%&0'3'<"*'$)<"&%05)*'8)';08)$'"'<"*'D=)'
)*#":0*'"&0*#=:E$"80*'8)*";"$)&)51'>'%%*(+1*.'!+A*.C%'(K+/'%%*(+1*.'!+1'%6*(K+
/'%%*(+1*.'!+/'%%*(K+&'+1*1A*!+'(#+.,1A"!#K+&'+1*1A*!+'(#+&xA*..'+6$+1*1A*!K+."!+5(+
L**6K+'&+1'%6*+.$'%6'+"&+/'%%*K+6*L(+"%'+#%'"#'6+"(+/5L(K+6*L(+.$&#5/&;K+&'+1*1A*!+6,#'(#'+&'+
1*1A*!K+'#1N
K0*'*=])#0*'D=)'";"$)&)5')5';"5#"<<"'50'#%)5)5';)$*05"<%8"8+':^*'"<<^'8)'<"'D=)'<0*'8)M%5)'"'
#$"7_*'8)'<"'&<"*%M%&"&%L5-'Q0:E$)+'!)$$0+'9)$80-'.<'<)5F="])')5'*='M0$:"':^*'0$8)5"8"'
e50:E$)'7)$E0'3'*%5#"U%*e+'&$)"'=5"')*M)$"'8)'&05)U%L5')5#$)'#080*'<0*';)$*05"])*'
%:;<%&"80*')5')<'"&#0';)$&);#%70g'<0*';)$*05"])*':%*:0*'*05'&0:0'*G<"E"*'8)'=5"'*0<"'
;"<"E$"-'
K"'7%*"F$"'D=)'"$#%&=<"')<')*;"&%0'D=)')*#^')5#$)'<0*'*=])#0*')*')<'%5#)$$0F"5#)'D=)'*)'*%#o"'
"<<G'8058)')<'<)5F="])'50')*'&";"4'8)')U;<%&"$'5=)*#$0':=580+'8058)'<"'$)"<%8"8'*=&)8)'"'
*=*')*;"<8"*-'
.<'7G5&=<0')5#$)')<<0*')*'&0:0')<')U%*#)5#)')5#$)'<"*'8%M)$)5#)*'<)5F="*1'<"':%*:"'<LF%&"'
<;B7;8E#0#<5K6<5E#L#'&+&$L"%+6'+/%*1'6'!15"+'(+&*+*%L?!51*X#SS
*%5#^&#%&"+'8%M)$)5#)':0$M0<0FG"-'K)5F="*'I)$:"5"*'%5&";"4'8)')5#)58)$*)-'h05"*'&0:=5)*'
D=)'3"'D=)8"5'<)]0*'8)'<0'D=)'"&#="<:)5#)'*055%-!"&M!%/&$#$*-&G&/&$"
K0'D=)'@"$)8',%":058'<<":"'x)<'F$"5'*"<#0x'D=)'*)';$08=]0'I"&%"')<'"p0'NS-BBB'"5#)*'8)'B+'
;"$)&)';$08=&%$*)'F$"&%"*'"<'8)*"$$0<<0'8)'<"*'E"*)*'"5"#L:%&"*'8)<'<)5F="])'I"E<"80'
&0:;<)]0-'K0*'&I%:;"5&_*+'<0*'F0$%<"*')'%5&<=*0'<0*':050*+'#%)5)5'&";"&%8"8';"$"'<"'
&0:=5%&"&%L5'*%:EL<%&"'50'8);)58%)5#)'8)'<"';"<"E$"'I"E<"8"-'f%5'):E"$F0+'_*#0*'&"$)&)5'
8)'<"')*#$=&#=$"'8)'<"'<"$%5F)+'<"'<)5F="'3'<0*':o*&=<0*'$)<"&%05"80*-',%":058'"M%$:"'D=)'
=5"'7)4'D=)'*)'I=E0'8)*"$$0<<"80'<"'&05*#%#=&%L5'"5"#L:%&"'"8)&="8"+'#=7%)$05'D=)'
#$"5*&=$$%$'#08"7G"'7"$%0*':%<)5%0*';"$"'D=)'<"')*#$=&#=$"'8)<'<)5F="])'*)';)$M)&&%05"$"'3'
"8D=%$%)*)'*='M0$:"'"&#="<-'Q"*#"')<':0:)5#0'8)<'L%"!+("&#*+'<"'&=<#=$"'I=:"5"'"7"54L'
<)5#":)5#)'8=$"5#)':%<<05)*'8)'"p0*-'
.<'M=#=$L<0F0'c"3'[=$4k)%<'"M%$:"'D=)'#"5';$05#0'&0:0'=5'^:E%#0'8)'<"'&%)5&%"'0'<"'
#)&50<0FG"'*)'&057%)$#)')5'%5M0$:"&%L5+'*='8)*"$$0<<0'*)'"&)<)$"'3'&$)&)')U;05)5&%"<:)5#)-'
!0$')]):;<0'<"':)8%&%5"g+'!+'&+/"("6*+!*+4$!15*!"C"!+1*.*+#'1!*&*LO"+6'+&"+5!4*%."158!K+
(5!*+.?(+C5'!+1*.*+V'!(";*+;+'%%*%WN+F5!+'.C"%L*+"1#$"&.'!#'+/*6'.*(+(5.$&"%+&"+C5*&*LO"+
/*%+*%6'!"6*%i+#*6*+'(#*+'(+!$'I*K+;+!*+'d5(#O"+A"1'+$!*(+"b*(N+B*;K+&"+("&$6+;+&"+C5*&*LO"+
(*!+#'1!*&*LO"(+6'+&"+5!4*%."158!K+;+1%'1'!+'d/*!'!15"&.'!#'N+2(#*+(5L!5451"+-$'+('%?!+.5&+
I'1'(+.?(+/*#'!#'(+'!+65'0+"b*(K+;+$!+.5&&8!+6'+I'1'(+.?(+/*#'!#'(+'!+I'5!#'+"b*(i+
C?(51".'!#'+6*C&"%?!+($+/*#'!15"+1"6"+"b*-JC
/M%$:"'D=)')5')<'"p0'ABSB'<"'%:;<"5#"&%L5'8)'5"50#)&50<0FG"')5')<'&)$)E$0'I=:"50'
e5"50E0#*'0'5"50$0E0#*e'*)$^'"<F0'M"&#%E<)'"')*&"<"';0;=<"$+'8)'M0$:"'D=)'5=)*#$"*'
5)=$05"*'*)'7)$^5'";03"8"*';0$';)D=)p0*';$0&)*"80$)*'%:;<"5#"80*'&05'<0*'D=)'
&00;)$"$^5';"$"';$0&)*"$'&05':"30$'7)<0&%8"8+'0'"<:"&)5"$':"30$'&"5#%8"8'8)'8"#0*-'Vq"+
A";+/'%(*!"(+-$'+(*!+15C*%L(K+-$'+#5'!'!+.?-$5!"(+'!+'&+1'%'C%*i+/*%+'3'./&*K+/"15'!#'(+
6'+>"%\5!(*!+-$'+&&'I"!+$!+65(/*(5#5I*+6'&+#"."b*+6'+$!+L$5("!#'+-$'+($(#5#$;'+&"(+
!'$%*!"(+6'(#%$56"(+/*%+&"+'!4'%.'6"6N+rs
JC
'I##;1jjkkk-*:"$#;<"5)#-)*j$)8)*E<0Fjs;•PBl:0$)ePB'
"')*#)'I)&I0'c"3'[=$4k)%<'<0'<<":"'t<"'<)3'8)'$)58%:%)5#0*'"&)<)$"80*u
S?#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
9"+c&#5."+L'!'%"158!+6'+'(#'+5./&"!#'+1'%'C%"&+P"A*%"+'(#?!+'!+&"+1$"%#"+L'!'%"158!Q+
/'%.5#'+6'(1"%L"%+!$'I*+(*4#R"%'+/"%"+'&+*%6'!"6*%+'!+'&+5!#'%5*%+6'&+1'%'C%*+6'(6'+4$'%"+
6'&+/"15'!#'N+9"+L'!'%"158!+"!#'%5*%+!*+&*+/'%.5#O"N+€q+'(#*+'(+"&L*+-$'+;"+('+/$'6'+A"1'%+
'!+&"+"1#$"&56"6v+)*+#5'!'+'&+#"."b*+6'+$!+L&8C$&*+%*3*K+(5!*+6'+$!+L$5("!#'W
!$%:)$0'<"'<"$%5F)'3'#$"&#0'70&"<+'<=)F0')<'*%*#):"'E%5"$%0'%5M0$:^#%&0'3'<"'#)&50<0FG"';"$"')<'
"<:"&)5":%)5#0'8)'&"8"'7)4':^*'%5M0$:"&%L5')5':)50$')*;"&%0'--'
V"<'&0:0'8)*"$$0<<"'c"3'[=$4k)%<')5'*='&05&);#0'8)'F5!L$&"%56"6oe+';"$)&)'D=)'<"'7)$8"8)$"'
;$0#"F05%*#"'8)'<"')70<=&%L5')*'<"'%5M0$:"&%L5+')<<"')*'<"'D=)'I"'%80'"&=:=<^580*)'8)'
:"5)$"':^*')M%&%)5#)'"'#$"7_*'8)'<"*'8%7)$*"*')*;)&%)*'3'&05#%5o"'*='7)$#%F%50*"')70<=&%L5'"'
#$"7_*'8)'<"*':^D=%5"*+'8)'<"*'&="<)*'50'*)$G":0*'<0*'I=:"50*':^*'D=)':)$"*'
I)$$":%)5#"*';"$"'*='&05*#$=&&%L51'<"*':^D=%5"*'50*'=*"5'"'50*0#$0*'3'50'7%&)7)$*"-'
[=$4k)%<'<<":"'F5!L$&"%56"6'"<':0:)5#0')5'D=)'<0*'I=:"50*'#$"5*&%)58)5'<"'E%0<0FG"-'2'
)*#)':0:)5#0'3"'I"'<<)F"80+'3'*)'"&)<)$"'7)$#%F%50*":)5#)+';=)*#0'D=)'#"<'&0:0'8):=)*#$"'
[=$4k)%<')5'*='"5^<%*%*'I%*#L$%&0'8)'5=)*#$"'#)&50<0FG"'$)&%)5#)+')<'&$)&%:%)5#0')*'
)U;05)5&%"<-'2'50'*L<0'"7"54"')U;05)5&%"<:)5#)'<"'&=$7"'8)'8)*"$$0<<0+'*%50'D=)')<';$0;%0'
)U;05)5#)'"<&"54"'=5';=5#0')5')<'D=)'_<':%*:0'*)':=<#%;<%&"')U;05)5&%"<:)5#)65"'&=$7"'8)'&$)&%:%)5#0')U;05)5&%"<')5'*=';$%:)$"'M"*)'";)5"*'*)'8%M)$)5&%"'8)'=5"'&=$7"'
8)'&$)&%:%)5#0'<%5)"<+';)$0'=5"'7)4'"<&"54"')<';=5#0'8)'%5M<)U%L5+'<"'&=$7"')U;05)5&%"<'*)'
8%*;"$"'"&)$&^580*)'"'<"'7)$#%&"<-'!"$)&)'D=)')*#0*'OB-BBB'"p0*'8)')70<=&%L5'&=<#=$"<')5'
5=)*#$"')*;)&%)'I"5'*%80')<':0:)5#0')5'D=)'<"';$0F$)*%L5';"$)&G"'*)$'<%5)"<+';)$0'#"<'3'
&0:0'&"8"'=50'8)'50*0#$0*'*0:0*'&";"&)*'8)';)$&%E%$+')<'8)*"$$0<<0'*)'I"'"&)<)$"80'
7%*%E<):)5#)'8)'M0$:"'$"8%&"<'"'<0'<"$F0'8)'<0*'o<#%:0*'AB'"p0*,)*;=_*'8)<'F$"5'*"<#0+'I"&)'N`-BBB'"p0*+'50*'8);=$":0*'&0:0':^D=%5"*'8)'%5M0$:"&%L5.5'<"*'o<#%:"*'8_&"8"*'I):0*'<<)5"80')<'7"&G0'8)]"80';0$'<"'.$'%#'+6'+75*('&05'0#$0'
#_$:%501'<"*':^D=%5"*-'2"'50'*0:0*'M=*%05)*'&=)$;0'3'"<:"+'*%50'R'#R"%'+;+(*4#R"%'+
P."#'%5"&+Ac.'6*+;+."#'%5"&+C&"!6*QN+?%L<0F0*'$"8%&"<)*+'&%)5#GM%&0*'8)'<"'&0:;=#"&%L5+'3'
PB
[6chb.aK+'c"3-'=A'+(5!L$&"%5#;+5(+!'"%-'R%\%5F'!)5F=%5'ABB`
<;B7;8E#0#<5K6<5E#L#'&+&$L"%+6'+/%*1'6'!15"+'(+&*+*%L?!51*X#SO
M%<L*0M0*+'5=)*#$"'8);)58)5&%"'8)'#)<_M050*':L7%<)*+'0$8)5"80$)*';0$#^#%<)*+':"$&";"*0*+'
8)5#"8=$"*+'F"M"*+'3'&0&I)*')*'#"5'5"#=$"<'&0:0'<"'&05&I"'8)'&"$E05"#0'&^<&%&0'8)'<0*'
:0<=*&0*-'K"*':^D=%5"*'*05';)$&%E%8"*'&0:0'&";"&)*'8)'$)F=<"$'*='*%*#):"')70<=#%70'
%58);)58%)5#):)5#)+'=*"580'"'<0*'I=:"50*'&0:0'*=':_#080'$);$08=&#%70-'Y0*'&057)$#%:0*'
"&)<)$"8":)5#)')5';0*#eI=:"50*+'3')*#0'%:;<%&"'#"5#0'*)$'"5%:"<)*'&0:0'*)$':^D=%5"*-PN
<&!%/&$,#/FM%&-&R$,
Q"'*%80'<"'&057)$F)5&%"'#$"5*8%*&%;<%5"$%"'8)'%57)*#%F"&%05)*'&%)5#GM%&"*'3'#)&50<LF%&"*+'"'
;"$#%$'8)'<"*'"&#%7%8"8)*'5)=$0M%*%0<LF%&"*'8)<')5&_M"<0'3'8)<'*%*#):"'5)$7%0*0+'<"*'D=)'I"5'
F)5)$"80'<0'D=)'*)'8)50:%5"'&0:0'&%)5&%"*'&0F5%#%7"*.<')*#=8%0'8)'<"':)5#)'3'8)<'&0:;0$#":%)5#0'*=$F)'8)'&%)5&%"*'"=#L50:"*'&0:0'<"'
<%5FX%*#%&"+'<"';*%&0E%0<0FG"'&0F5%#%7"+'<"'%5#)<%F)5&%"'"$#%M%&%"<'3':^*'$)&%)5#):)5#)'<"'
5)=$0&%)5&%"'3'"5#$0;0<0FG"'&0F5%#%7"-'
2'<"'M%<0*0MG"+'"'#$"7_*'8)'"<F=5"*'8)'*=*'$":"*'&0:0'<"'<"'<LF%&"+'<"'F50*)0<0FG"+'<"'
);%*#):0<0FG"'3'<"'M%<0*0MG"'='05#0<0FG"'8)'<"':)5#)+')*'<"'D=)'I"'F=%"80'<"*'%57)*#%F"&%05)*'
&0F5%#%7"*-'
.*#)'8)*"$$0<<0'8)*;=5#L'"'M%5"<)*'8)<'*%F<0'{a{'3'8=$"5#)'<"';$%:)$"':%#"8'8)<'*%F<0'{{-'
,)*8)'<"*'8%M)$)5#)*'8%*&%;<%5"*'*=$F)5')5M0D=)*'&05'0E])#0*'&0:=5)*'8)')*#=8%0+';)$0'&05'
8%M)$)5&%"*':)#080<LF%&"*-'
K0*')*M=)$40*';"$"'"=5"$'<"'M0$:"')5'D=)'0;)$"5'<"*'8%M)$)5#)*'8%*&%;<%5"*';)$:%#%L')<'
*=$F%:%)5#0'8)'<"'%5#)<%F)5&%"'"$#%M%&%"<+'D=)'50'*0<0')*'#$"5*8%*&%;<%5"$%"+'*%50'D=)'8)*I"&)'
<"*'M$05#)$"*'$GF%8"*')5#$)'<"'&%)5&%"+'<"'#)&50<0FG"'3'<"'M%<0*0MG",)*8)'<0*'$)*;)&#%70*'^:E%#0*'%E"'M0$:^580*)'<"'&05&%)5&%"'8)'D=)'<"';*%&0<0FG"'
)U;)$%:)5#"<'I=:"5"+'<"'<%5FXG*#%&"'#)L$%&"'3'<"'*%:=<"&%L5'8)';$0&)*0*'&0F5%#%70*'M0$:"E"5'
;"$#)'8)'=5"'„#0#"<%8"8':"30$…+'%5D=%)#=8)*'&0:=5)*'D=)')5'<0*'"p0*';0*#)$%0$)*'%$G"5'
*%)580')<"E0$"8"*'3'$)&%E%$G"5'<"'8)50:%5"&%L5'8)'15'!15"(+1*L!5#5I"(.*';0*%E<)'=E%&"$'<0*'0$GF)5)*'%5*#%#=&%05"<)*'"':)8%"80*'8)'<"'8_&"8"'8)'NCJB+'&05'<"'
PN
9Z{+'9I$%*#0;I++f4+B$."!(K+H!5."&(+"!6+@*!(#'%(+')5'S'1*.5!L+H!5."&K+:*!#'./*%"%;+H%#+5!+#A'+"!5."&+
m5!L6*.-'>/ff'>Z9/'ABB`-
S[#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
M=58"&%L5'8)'<"':*L!5#5I'+F15'!1'+F*15'#;'3'<"'$)7%*#"':*L!5#5I'+F15'!1'+')5'<"'&="<'*)'I"5'
;=E<%&"80'"<F=50*'8)'<0*'#)U#0*'D=)'*)'&05*%8)$"5'&<^*%&0*'8)'<"*'&%)5&%"*'&0F5%#%7"*-'
.5#05&)*+'*0E$)'<"'E"*)'8)'&)$&"'8)':)8%0'*%F<0'8)'%57)*#%F"&%05)*'3'$)*=<#"80*'
#$"5*8%*&%;<%5"$%0*+')*';0*%E<)'8)#)$:%5"$'D=)'<0*':08)<0*');%*#):0<LF%&0*'3':)#080<LF%&0*'
8)'<"*'&%)5&%"*'&0F5%#%7"*'*)'I"5'&05*#$=%80';0$':)8%0'8)''!(".C&"3'(+6'+/%*1'(*(+
5!#'%#'8%51*(')5#$)'<"*'&%)5&%"*'5"#=$"<)*'3'<"*'&%)5&%"*'*0&%"<)*+'"*G'&0:0')5#$)'<"*'
#)&50<0FG"*'%5F)5%)$%<)*'3'<"*'#)&50<0FG"*'*0&%"<)*-PA
]&R&*#%!)*F%$"'!%-!
.*'5=)*#$0'&)$)E$0-'.<'*%*#):"';0$')<'&="<'";$)58):0*')*'<"'0E*)$7"&%L5-'9="580'
0E*)$7":0*'"'"<F=%)5'I"&)$'"<F0+'5=)*#$0'&)$)E$0'$);$08=&)'&"8"'=5"'8)'<"*'0;)$"&%05)*'
D=)')*#":0*'7%)580-'ZE*)$7"'3';$0&)*"1')<'&)$)E$0'<<)7"'"'&"E0'#080*'<0*';$0&)*0*'
5)&)*"$%0*';"$"'$)"<%4"$'<"'#"$)"+')U&);#0')<'%:;=<*0'D=)'<0'&05)&#"$G"'"<'*%*#):"'5)$7%0*0'3'
&05')<<0'"<'&=)$;0';"$"'<<)7"$<"'MG*%&":)5#)'"'&"E0-'
/*G'D=)'5=)*#$0'&)$)E$0'50*'I"&)'*)$'3'I"&)$'#080'"D=)<<0'D=)':%$":0*'3'#":E%_5'<0'D=)'
*L<0';)5*":0*'0'%:"F%5":0*-'V080'<0'D=)':%$":0*+'<0'*0:0*'0'<0'I"&):0*')5'5=)*#$0'
&)$)E$0-'
K"'M=)$4"'8)'<"'%:"F%5"&%L5'$)*%8)')5'*='"E*0<=#"';0#)5&%"<%8"8-'!$0E"E<):)5#)'*)"')*#0'"'
<0'D=)'*)'$)M%)$)5'<"*'%57)*#%F"&%05)*'M%<0*LM%&"*'&="580'I"E<"5'8)'D=)'&$)":0*')<':=580'
&05'5=)*#$"':%$"8"-'K0':%$":0*-'2':%$"$<0')*'7%7%$<0'5)=$05"<:)5#)-'R%7%$<0'&00$8%5"580'=5'
:05#L5'8)';$0&)*0*2!+$!"+1*./"%"158!+6'+&"(+/%*/5'6"6'(+'&'1#%*45(5*&8L51"(+6'+&"+I5L5&5"+;+'&+($'b*+%'"&50"6"(+
'!+$!"+5!I'(#5L"158!+$!5I'%(5#"%5"K+1*!1&$;'!+-$'+'&+.'1"!5(.*+('!15&&*+;+4$!6".'!#"&+'(+'&+
.5(.*+/"%"+".C*(+'(#"6*(J+$!"+5!1'("!#'+1A"%&"+5!#'%5*%+'!#%'+&"+1*%#'0"+;+'&+#?&".*+
1'%'C%"&'(K+$!"+5!1'("!#'+5!#'%"1158!+6'+&"+5."L'!+;+&"+('!("158!K+(5!+5./*%#"%+-$'+A";"+
'(#5.$&"158!+('!(*%5"&+*+!*N+:$"!6*+A";+'(#5.$&"158!+('!(*%5"&K+'(#"+5!#'%"1158!+&"+5!#'L%"+
/"%"+L'!'%"%+&"+1*!(15'!15"+6'(/5'%#"K+/'%*+'!+"$('!15"+6'+&"+'(#5.$&"158!+('!(*%5"&+(5L$'+
PA
I##;1jj)*-k%\%;)8%"-0$Fjk%\%j9%)5&%"~&0F5%#%7"
<;B7;8E#0#<5K6<5E#L#'&+&$L"%+6'+/%*1'6'!15"+'(+&*+*%L?!51*X#SU
L'!'%"!6*+'(#"6*(+1'%'C%"&'(K+;+"+'(#*(+'(#"6*(+1'%'C%"&'(+&*(+&&".".*(+4"!#"(O"K+
"&$15!"158!+*+($'b*NPS
Z'&%)5&%"+'0'M)5L:)50*';"$"50$:"<)*+'0'<0'<<":":0*'"$#)FO!6%*.'+6'+/'%(*!"&56"6+5!#'%1%O#51"~+6'+["d."!M•'(AR5!6+*+6'+7*(#*;'I(\5J+B5/'%M
1*!'d58!+'!#%'+&"(+?%'"(+('!(*%5"&'(+;+'.*15*!"&'(+6'&+1'%'C%*K+%'($&#"!6*+'!+
/'%1'/15*!'(K+%'1$'%6*(+'+5.?L'!'(+"1'!#$"6"(+;+6'+L%"!+1"%L"+'.*15*!"&N+
2/5&'/(5"+6'+&8C$&*+#'./*%"&J+('+6"+$!"+/'1$&5"%+5!#'!(5451"158!+6'+&"+I56"+'.*15*!"&+;+$!+
5!#'%,(+1"6"+I'0+.";*%+/*%+#'."(+45&*(8451*(K+%'&5L5*(*(+;+18(.51*(N+F'+*C('%I"+$!"+
'd#%"*%65!"%5"+/%*6$1#5I56"6J+&"+%'6"1158!+6'+"$#*C5*L%"4O"(K+'&+'.C*%%*!".5'!#*+6'+5!45!5#*(+
65"%5*(K+'&+65C$3*+*C('(5I*+;+$!"+('!("158!+L'!'%"&+6'+5&$.5!"158!K+n.5(58!n+;+n6'(#5!*nK+
5!1&$(*+'!+&"(+/'%(*!"(+6'+/*1"+1$&#$%"+;+n!"6"+5!#'&'1#$"&'(n+-$'+"!#'%5*%.'!#'+!*+A"CO"!+
.*(#%"6*+5!1&5!"158!+"&L$!"+'!+'("+65%'1158!NPO
9="<D=%)$"'8)'5=)*#$"*'"&#%7%8"8)*'&0:0'I=:"50*'*05'&05*)&=)5&%"'8)'5=)*#$"'"&#%7%8"8'
&)$)E$"<-'K0'D=)'*)'<<":"'#"<)5#0+'=5';"*0':^*'"<<^'*)'&057%)$#)')5';"#0<0FG"-'.<'&"*0'8)'<0*'
565*#(+("I"!#('%<=*#$"';)$M)&#":)5#)')*#)'M)5L:)50+'50'8)]"'5%5F=5"'8=8"-'f05'5%p0*'D=)'
;0$'<0'F)5)$"<';$)*)5#"5'=5'F$"80')U#$):0'8)'"=#%*:0+'%5&";"&)*'8)'&0:=5%&"$*)'
50$:"<:)5#)+'5%'8)'";$)58)$'<"*'$)F<"*'8)<']=)F0'*0&%"<'D=)'50*';)$:%#)'&05)&#"$50*'=50*'
&05'0#$0*'3'&$)"$'<"*'*0&%)8"8)*')5'D=)'7%7%:0*-'f%5'):E"$F0'#%)5)5'"<Fo5'#"<)5#0'I%;)$'
8)*"$$0<<"80-'f05'<0*'5%p0*';$08%F%0+'D=)'&05'S'"p0*'8)')8"8+'%5#)$;$)#"5';"$#%#=$"*'
&0:;<)]"*'"<';%"50+'0'$)"<%4"5'8%E=]0*'8)'=5"':"8=$)4';<^*#%&"'D=)'*=;)$"'<"'8)'&="<D=%)$'
F$"5'"$#%*#"K"*'"E)]"*'8)*";"$)&)5-'K"'E0<*"'*=E)'3'E"]"-'K"'*)$;%)5#)'8)'#)$&%0;)<0-'NBB-BBB':=)$#0*'
)5'<"#%50":_$%&"+'`B':=)$#0*')5')=$0;"-'.<'7)5)50'*)'M%<#$"'<)5#":)5#)-'K"'7"&=5"')*'&"$"'
;)$0'I"3'D=)'&05&%)5&%"$*)';"$"'*"<7"$'7%8"*-'rD=_'*%F5%M%&"'D=)')*'&"$"s'r&="<')*')<'&0*#)'
)5'#_$:%50*'8)')*;)&%)s'r&="<)*'*05'<"*'7%8"*')5'8)#$%:)5#0'8)'<"*'&="<)*'*)'*"<7"5')*"*'
0#$"*s'.*#":0*'"#$";"80*')5'=5'*%*#):"'8)'%5M0$:"&%L5'D=)'&"8"'7)4':^*'*)'"*):)]"'"'
PS
PO
f/9[f+'Z<%7)$-'j!+"!#%*/8&*L*+'!+."%#'+'.*;"p"+')8-'/5"F$":"'NCC`+';-PH
f/9[f+'Z<%7)$-'j!+"!#%*/8&*L*+'!+."%#'+'.*;"p"+')8-'/5"F$":"'NCC`+';-ABO
?W#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
=5"'%<=*%L5'3'50*'I"&)'*)5#%$'%5:)$*0*')5'=5'*%*#):"'8)'$);$)*)5#"&%L5'7%$#="<'D=)'
&05#$"8%&)'&"*%';0$'&0:;<)#0'<0*'$)<"#0*'D=)'7)5%:0*':"5)]"580!0&0'"';0&0+'<"'&%)5&%"'50*'&0<05%4"-'90<05%4"'8)*<=:E$^58050*'"<'8)*7)<"$'=5"'
8)#)$:%5"8"'<LF%&"'8)'<"*'&0*"*'D=)'50*'$08)"5-'!0&0'"';0&0'7":0*')5#$"580')5'<"'
&0:;$)5*%L5':0<)&=<"$'8)'5=)*#$0'*)$-'!0&0'"';0&0'"&);#":0*'<"'%8)"+'&"8"'7)4':^*'
"&#="<+'8)'5=)*#$"'0$F"5%&%8"8-'.<'"<:"';"$)&)'#0:"$';0*%&%L5')5')<':%*:0'&)$)E$0-'.<'"<:"'
)*#^')5')<'&)$)E$0-'
($"5&%*'9$%&\+'50*'&0:=5%&"'D=)')<'"<:"'#%)5)'=5"')U;<%&"&%L5'E%0D=G:%&"-'n>*%+/%5.'%"+I'0+
#'!'.*(+$!+'(-$'."+1*A'%'!#'+6'+&*(+1*%%'&"#*(+!'$%"&'(+6'+&"+1*!(15'!15"+'!+#,%.5!*(+
45&*(8451*(K+/(51*&8L51*(+;+!'$%"&'(ouN+.U;<%&"'D=)')5')<'&)$)E$0'I=:"50'I"3'=5'F$=;0'8)'
5)=$05"*'D=)'*05')<'0$%F)5'8)'<"'&05*&%)5&%"'3')<'"<:".*'#":E%_5'($"5&%*'9$%&\'D=%)5')<"E0$L'<"'#)0$G"'8)<';"5)*;)$:%"'8%$%F%80+')5'<"'D=)'"M%$:"'
D=)'<"';$%:)$"'&_<=<"'7%50'8)<')*;"&%0')U#)$%0$'"'<"'#%)$$"9"(+.*(1"(+"1#5I"!+(5.$&#?!'"+;+1*A'%'!#'.'!#'+&*(+.86$&*(+1'%'C%"&'(+6'+&"+%"08!+;+&"+
'.*158!+"&+/%*1'("%+&"+5!4*%."158!K+/%*1'65.5'!#*+-$'+'(+/%'15(".'!#'+'&+4$!6".'!#*+6'+&"+
1*!(15'!15"+A$."!"K+('Lc!+/%'.5*+!*C'&+•'%"&6+26'&."!Not
f%'M%5"<:)5#)'"D=)<<0'D=)'50*'8%M)$)5&%"E"'8)<'"5%:"<+')5'&="5#0'D=)':^D=%5"'$)F=<"8"';0$'
*=*'%5*#%5#0*+'#)$:%5"';0$')U;<%&"$*)'"'#$"7_*'8)';$0&)*0*')<)&#$0D=G:%&0*+'50'D=)8"'3"'
5"8"'D=)';08":0*'=*"$';"$"']=*#%M%&"$'5=)*#$0'('%+"&L*+.?(-'f%';08):0*'";$0;%"$50*'8)<'
"5%:"<'&0:0'M^E$%&"'E%0D=G:%&"'8)';$08=&&%L5'8)'&0:08%8"8)*';"$"'5=)*#$"'&%7%<%4"&%L5+'
rD=_'%:;%8)'D=)'<0'I"F":0*'&05'50*0#$0*':%*:0*s'V"<'&0:0'%5*%*#)'V0:"*'>"&I0')5'*='
)5*"30'9"+%'C'&58!+6'+&"(+."(1*#"(+'<0*'I0:E$)*'*%):;$)'*)'I"5'I)&I0':=#=":)5#)'<0'D=)'
D=)'<)*'I"&G"5'"'<0*'"5%:"<)*-PJ
ee
P`
PH
PJ
I##;1jj"UU05-&0:-"$j50#jNAOj&eNAOa5M0/<:"Y)=$"<-I#:
f/>!.,cZ+'@"7%)$-'r:*!+-$,+($'b"!+&"(+.*(1"(]K+.*;"p"+')8-'/F=%<"$+'ABBO
>/9QZ+'VI0:"*-'7'%+H$4(#"!6+6'%+B$"(#5'%'+')5'B'%"$(4*%6'%$!L+=5'%N+D*!+S'$;(+S5(+m"C"\*IN'>X5&I)5+'
K05805+'Y)k'20$\+'!$)*#)<'R)$<"F+'ABBB
<;B7;8E#0#<5K6<5E#L#'&+&$L"%+6'+/%*1'6'!15"+'(+&*+*%L?!51*X#?4
.*#)')*')<'<=F"$'8)*8)'8058)'D=%)$0':%$"$g'<0'"5#)$%0$':)'&05M%$:"'D=)')<'<=F"$'8058)'#080'
)*#^')*'<0'0$F^5%&0+'3'*%'#080')*#^')5'<0'0$F^5%&0+')5#05&)*'#080')*')<'<)5F="])'8)'<0'
0$F^5%&0+'3'*%')*#0')*'"*G+'#08"*'5=)*#$"*'&05*#$=&&%05)*'"#%)58)5'"<'$=:0$'%5#)$50+'*%):;$)'
#$"#"580'8)'%F="<"$')*"'%:"F)5'%5#)$5"+')<')*;)]0'50')*#^'"M=)$"+'*%50'"8)5#$0'5=)*#$0+')5'
5=)*#$0*'#)]%80*+')5'5=)*#$0*';<%)F=)*'"#L:%&0*g')<'65('L!*'e%<'*)F50'8%'8%0'%5'50%e';"*"'"'*)$'
)<'C5*('L!*/5#)*')*"'%:"F)5+'"'#$"7_*'8)'<0'$)<%F%0*0+'8)'<0'M%F=$"#%70+'8)'<0'0$5":)5#"<'0'8)&0$"#%70+'
;$)*#"E"'"<)F0$G"'"'<"*'):0&%05)*+')*"'%:"F)5'I"'#$"5*%#"80'I"*#"';$)*#"$')D=%7"<)5&%"'"'
<"*')*#$=&#=$"*r)5'D=_':0:)5#0')*#":0*'3'8)'D=_':"5)$"';$)*#"')<'"5%:"<'*='%:"F)5')5')*#)'
)5#$":"80s'
.5'M0$:"'8)'*=*=$$0+'<"'&=<#=$"'%5M"5#%<'50*'8%&)1'<0*'"5%:"<)*'*05'*)$)*'%5#)<%F)5#)*'D=)'*)'
&0:=5%&"5'&05'50*0#$0*+'D=)'"':)5=80'50*';=)8)5'*"<7"$'8)'<"*';)0$)*'*%#="&%05)*+'D=)'
F$"&%"*'"'*='*=;)$%0$%8"8')*;%$%#="<+'*"E%8=$G"'3'&050&%:%)5#0*+';=)8)5'*)$'5=)*#$0*'F=G"*!0*#)$%0$:)5#)+')5'<"')8"8'"8=<#"+')5&05#$":0*'#080'=5'";"$"#"])'%5#)<)&#="<'8)7)5%80'
&=<#=$"+';"$"'8):0*#$"$'<"':"F5GM%&"')'%5*"<7"E<)'E$)&I"'D=)')U%*#)')5#$)'"5%:"<'3'I=:"50-'
.*)'";"$"#"])'%5#)<)&#="<'50';"$)&)'"<F0'#"5'8%M)$)5#)'8)<';)5"&I0'8)'=5'%58%0+'<"'&0<"'8)'=5'
;"70'$)"<+'0'<"'&0$5":)5#"'8)'=5'"5%:"<'8)*#%5"80'"'<%8)$"$'"'*=':"5"8"-'f%5'):E"$F0+'"'<"'
I0$"'8)'&0:;"$"$'<0*';)5"&I0*'8)&%:0*+';-)]-+'D=)+'&+-$'+;*+&&'I*+'!+&"+1"C'0"+#5'!'+/'(*K+
.5'!#%"(+-$'+'&+-$'+&&'I"+'&+5!65*+*+'&+/"I*+!*+/'("!-',)&%:0*'D=)'*=*';)5"&I0*'50';)*"5+'
;"*"580';0$'"<#0'D=)'50'<0*'<<)7":0*')5&%:"'&0:0';"$"'8)#)&#"$'*=';)*0-',)'D=_':"5)$"'
8)EG":0*'*)$'&";"&)*'8)'$)&050&)$'3';0$'#"5#0'&050&)$'<0*'<%E$0*'8)'<"*'I0$:%F"*+')5'D=)'
I"&)5'*=*')&="&%05)*'#$"#"580'8)'8%<=&%8"$'($'$)"<%8"8-'K0'D=)'50'7):0*'50'<0'&$)):0*-'
!)$0')5#05&)*+'r;0$'D=_'I"E$G":0*'8)'8"$'M)'"'#08"'5=)*#$"'&=<#=$"'"&#="<'3'F<0E"<'E"*"8"'
)5'<"*'8)$%7"&%05)*'8)<'&050&%:%)5#0'&=^5#%&0'3'*%:%<"$)*s')*#^'8):0*#$"80+'50*'<0'8%&)5'<0*'
MG*%&0*+'*05')U;)$%:)5#0*'&05&$)#0*';"$"'$)"<%8"8)*'&05&$)#"*+'*%'E%)5'50'8)#)&#"E<)*';0$'<0*'
*)5#%80*'eI"E%#="<)*')5')<'&050&%:%)5#0'I=:"50er}=_'*=&)8)';"$"'D=)'=5"'%5M0$:"&%L5'*)"'&05#$"8%&#0$%"')5#$)')8"8)*s'r)5'D=_'50*'
E)5)M%&%"'&05*#$=%$'$)<"#0*'&05#$"8%&#0$%0*';"$"'8%M)$)5#)*')8"8)*s'r;0$'D=_';08):0*'
?@#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
&05*#$=%$'5=)*#$0*'&050&%:%)5#0*'7)5)$"580'<"'<LF%&"'3'"'<"'7)4'E"*"$<0*')5';=5#0*'8)'
;"$#%8"'D=)'$)"<:)5#)'50';$)*)5#"5'5%5F=5"'<LF%&"s
!$%:)$0'8)*;$)&%":0*'5=)*#$0'"5%:%*:0';0$'&"$)&)$'8)'<LF%&"+'3'<=)F0';"$#%:0*'8)'
"*)7)$"&%05)*'"$E%#$"$%"*';"$"'8)*"$$0<<"$'5=)*#$0*'&050&%:%)5#0*'&%)5#GM%&0*')5'<0*'&="<)*'
&$)):0*'F$"&%"*'"'*='8):0*#$"E%<%8"8g')5'<"':%*:"'<G5)"'*0:0*'&";"&)*'8)':"5)]"$'
8%M)$)5#)*'&$))5&%"*+'"*)7)$"&%05)*'0'&058%&%05)*+'8);)58%)580'8)'5=)*#$0*'%5#)$)*)*'8)'
&"8"':0:)5#0-
KB#E65PEB#L#A'.*(+I'!156*+"&+.?(+4$'%#'#X#?J
KB#E65PEB#e'Q):0*'7)5&%80'"<':^*'M=)$#)
r)5'D=_')*'=5"';)$*05"'<0':%*:0'&05'NA'&0:0'&05'`J'"p0*s'0'r)5'&=^5#0')*'=5"';)$*05"'
<0':%*:0'&05'NA'&0:0'&05'J`'"p0*s+'r)*':"30$'<"'8%M)$)5&%"'0'<"'*%:%<%#=8s'
,)'<"':%*:"'M0$:"')5'D=)'5)F":0*'5=)*#$0'*)$'"5%:"<+'0':^*'E%)5'<0'$)8=&%:0*'"'<0'E^*%&0'
)5'5=)*#$"*'&05&%)5&%"*+'#":E%_5':"5)]":0*'<"'%5M"5&%"'8)'M0$:"'D=)'50*')*'"<F0';0$'
&0:;<)#0'"])50-'Y0'D=)$):0*')5#)58)$'<"'"=#050:G"'8)'<"*';)$*05"*')5'&="<D=%)$':0:)5#0'
8)'*='7%8"+'0'8)'<0*'8%M)$)5#)*'*)$)*')5'&="<D=%)$'M0$:"')5'D=)'*)'&05*#%#=3"5-'K"')D=%e
7"<)5&%"'D=)'*=;05)'*)5&%<<":)5#)')<'*)$+'50'%:;0$#"'&0:0'*)'0$8)5)')<'M<=]0'8)')5)$FG"*'3'
:"#)$%"*-'
.<'5%p0'5)&)*%#"'8)<'"8=<#0'&0:0';$07))80$'8)'%5M0$:"&%L5'3'"<%:)5#0*+'&0:0'8%*;0*%#%70'8)'
;$0#)&&%L5-'!)$0')<'"8=<#0'5)&)*%#"'"<'%5M"5#)+';0$'5"#=$"<)4"'50'*)']=*#%M%&"'*='<05F)7%8"8'*%'
50';0$'<"'&"5#%8"8'8)'"p0*'D=)'=5"'&$G"'I=:"5"'5)&)*%#"';"$"'M0$:"$*)-'.*')<':0#%70';0$')<'
&="<'<"'5"#=$"<)4"'8):"58"'8)'50*0#$0*')<'<<)F"$'"'<"')8"8'"8=<#"9="580'&$=4":0*'5=)*#$"':%$"8"'&05'<"':%$"8"'<<)5"'3'&05'=5'E"F"])';$0;%0'8)'=5'$)&%_5'
5"&%80+'$)&=)$8"'"'<"'8)<'"5%:"<g':%$"8"*'"=#L50:"*'D=)'*)'&0:=5%&"5'*%5'8)*7)<"$*)!0$':^*'D=)'<=)F0'50*'0$F"5%&):0*'#080*')5'=5"'0$8)5"&%L5'])$^$D=%&"+'<"':%$"8"'8)<'
5)05"#0+'&0:0'<"'8)<'"5%:"<+'50'"8:%#)5')5F"p0*g'50*':%$"5'8)'%F="<'"'%F="<1'"+#%"I,(+6'+
*3*(+453*(+.5%"+$!"+'!'%LO"+5!I'(#5L"6*%"+-$'+"#%"I5'("+'('+%*(#%*+NNoo
e$-*&/&$#V!,,!*>+>?3"%*(+#"#$"6*(
2!+1$"&-$5'%+.*.'!#*+6"6*K+.'65*+.5&&8!+6'+/'%(*!"(+"1*./"b"6"(+/*%+
."(1*#"(K+?1"%*(+'!+&"(+/'(#"b"(+;+C"1#'%5"(+5!#'(#5!"&'(+(*C%'I$'&"!+'!+
"'%*/&"!*(No_
y#$"8=&&%L5'8)'<"'"=#0$"z
r;0$'D=_'=5';^]"$0+'D=)')*')<'70<"$+'D=)$$G"'#"#="$*)'=5'"7%L5')5')<'"<"s')*'8)&%$+'r;0$'D=_'
D=)$$G"'=5';^]"$0'<=&%$'=5'*%F50')<"E0$"80')5'0#$"'&=<#=$"'e<"'I=:"5"e'&05')<'D=)'<0*'
I"E%#"5#)*'8)')*"'&=<#=$"'*)'I"5'"3=8"80';"$"'8)7)5%$';^]"$0s
PP
PC
fKZV.c,a@[+'!)#)$-'2(4'%"(+T+'f%$=)<"'ABBS+';-NPN
>/cW6Kaf+'K355'"58'f/W/Y+',ZcaZY-'F'1*!6+)"#$%'+)5'
I##;1jjkkk-=:"**-)8=j=:"**:"Fj"$&I%7)*jNCCCjM"<<~CCjM"<<CC~M~A585"#=$)-I#:<
H#+"!;+L5I'!+.*.'!#+A"&4+"+.5&&5*!+/'*/&'+"11*./"!5'6+C;+/'#(K+';'&"(A+.5#'(K+"!6+5!#'(#5!"&+C"1#'%5"+4&;+5!+
"5%/&"!'(+*I'%A'"6N
?I#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
!"#$%&%"'()**)$-'>?3"%*(+="#$"6*(-'J'(0#0F$"MG"*'&0<0$'`B'U'`A`'&:-+'NCCP
.<';$0&)*0')*')<'*%F=%)5#)1')<'I0:E$)+'%5*;%$"80';0$')<'7=)<0'8)<';^]"$0+'F)5)$"')<'"7%L5g'
0$F=<<0*0'8)'*='I"4"p"+'8)*)"'%5*&$%E%$<0'e#"#="$<0e')5'*=';%)<+'&0:0';$0&<":"'"<':=580+'
&0:0'"*)7)$"&%L5.<'"7%L5';0$'=5'<"80'3'<"';%)<'#"#="8"';0$'0#$0+'*05'M0$:"*'8)'8)7)5%$';^]"$0+'8)'";$0;%"$*)'3'
<=&%$'<"'*0E)$"5G"';$0;%"'8)'<0'D=)'*=;05)')<';08)$'8)'=5'*#%*+"<'D=)')57%8%":0*+'D=)'
F)5)$"')5'50*0#$0*'):0&%05)*'D=)';=)8)5'<<)F"$'"'*)$'8)7"*#"80$"*+';0$';0*))$'&="<%8"8)*'
D=)'"'50*0#$0*'50*'I"5'*%80'5)F"8"*-'K"')57%8%"K"';"$^E0<"1')<';^]"$0'%5*;%$"'=5'F$"5'"&05#)&%:%)5#0'D=)'F)5)$"'=5"')<"E0$"&%L5+'=5"'
:)#^M0$".#3'&05')*)'M0$:"#0+'"<';^]"$0'<)'7=)<7)'*='1$'%/*+%*C"6*+'8)*<=:E$"5#)-'
HL'!15".5'!#*+."-$O!51*+;+"L'!15".5'!#*+6'+'!$!15"158!N+2!#%'+'&+1*!#'!56*+;+&"+'d/%'(58!+
('+'(#"C&'1'+$!"+!$'I"+%'&"158!J+#%"!(4*%."15*!'(+5!1*%/*%"&'(N+2(#'+'(+'&+'3'+6'+
#'%%5#*%5"&50"158!X+'&+('L$!6*+'3'+'(#?+1*!(#5#$56*+/*%+&"(+&O!'"(+6'+6'(#'%%5#*%5"&50"158!N_e
.<';^]"$0'#)$:%5"'8)*<=:E$"80';0$')<'"7%L5+'3';0$')<'#"#="])')5'*='"<"+'3'0<7%8"'<"'M=)$4"'D=)'
%:;=<*L'<"')U%*#)5&%"'8)<'"7%L51'*=';$0;%0'7=)<0+'3'0<7%8"')<'*)5#%80'8)<'#"#="])1'=5'
CB
,.K.6h.'2'W6/VV/ca+'@5&+.'('#"(+'!$)#)U#0*'ABBH-'&^;-'N`+';-`NO-'/e/F)5&%":%)5#0*
KB#E65PEB#L#A'.*(+I'!156*+"&+.?(+4$'%#'#X#?S
"F)5&%":%)5#0g':"$&"$*)'8)'M0$:"'D=)'*)':"5%M%)*#"'<"';0*)*%L5'8)'"<F0'8)'<0'D=)+')5'
$)"<%8"8+'*)'&"$)&)r.*'_*#"'<"'M0$:"')5'D=)'0;)$"'<"'&=<#=$"+'<"'&=<#=$"';0;=<"$'0$%)5#"8"'"<'I0:E$)')5':"*"+'
D=)'I"'F)5)$"80')<'tI0:E$)'E<"5&0us'8)*<=:E$"$'"<'0#$0'&05'=5"')<"E0$"&%L5'8)'*=';$0;%"'
M=)$4"g'";$0;%"&%L5'8)<';08)$'8)<'0#$0+';"$"'8)70<7_$*)<0';$0&)*"80'3'$)"<%4"$'=5"'
#$"5*"&&%L5')&05L:%&"')5'#0$50'"'_<-'
Y0'*)'#$"#"'3"'8)'&$)"$'5)&)*%8"8)*';"$"'<=)F0';08)$'*"#%*M"&)$<"*'&0:)$&%"<:)5#)+'*%50'
";$0;%"$*)'8)'<"*'&="<%8"8)*'D=)'3"'#)5):0*';"$"'8)70<7_$50*<"*')57"*"8"*'&0:0'7"<0$'8)'
&":E%0+'5)=#$"<%4"8"*')5'*='&";"&%8"8'8)'F)5)$"$';=<*%05)*'$)"<)*+'"&#%7"*-'
.*':08"')5'?$"*%<'D=)')<'$)F"<0'D=)'*)'I"&)'"'<"*']L7)5)*'8)'N`'"p0*')5'*='M%)*#"'8)'
;=)*#"'8)'<"$F0')*'=5"'0;)$"&%L5'D=%$o$F%&"g'"*G';$0E"E<):)5#)'<"*':^*'E)<<"*']L7)5)*'
E$"*%<)p"*+';0$')]):;<0+';"*"5';0$'<"'&":%<<"'8)'0;)$"&%05)*+'&057)5&%8"*'8)'D=)')5')*)'
;$0&)*0')5')<'D=)';%)$8)5'*='%8%0*%5&$"*%"'"<'*0:)#)$*)'"'=5"'"F$)*%L5'D=)'<"*'"&)$&"$^'"'
=5')*#^58"$')*#_#%&0'8)&%8%80';0$'#)$&)$0*+'*"<)5'F"5"80$"*+':)]0$"8"*K"';%)4"'&05*%*#)')5'J'M0#0F$"MG"*+'=5"*'&0<0&"8"*'E0&"'"$$%E"+'0#$"*'E0&"'"E"]0-'/<F=5"*'
:=)*#$"5')<):)5#0*'"$D=%#)&#L5%&0*+')*#$=&#=$"*-'.*#$=&#=$"*'D=)+'I"E<"580'&05',)<)=4)+'
/$'6'!+'d/&51"%+'&+1*!3$!#*+6'+$!5*!'(+;+%'&"15*!'(+-$'+('+6"!+'!+$!+1$'%/*K+/'%*+-$'+'(#?+
&'3*(+6'+('%+&"+c&#5."+/"&"C%"+-$'+&*+/$'6"+'d/&51"%N'
K0*';^]"$0*'7=)<"5')5'=5')*;"&%0'D=)'50')*'&05#%5=0+'$0#0';0$'<"*'8%M)$)5#)*'#05"<%8"8)*'8)'
&"8"'=5"'8)'<"*'M0#0F$"MG"*'3';0$'M$"F:)5#0*'8)')*#$=&#=$"'D=)'";"$)&)5'8)'M0$:"'M=F"4')5'
#$)*'8)')<<"*-'.*'*='L;#%&"g')5'*=')*;"&%0'"E*#$"&#0+')*#^'<"'$)M)$)5&%"'M$"F:)5#"8"'"<'
5=)*#$0-'
.<<0*+')5'*='7=)<0+';=)8)5';)$&%E%$'5=)*#$0')*;"&%0'8"80'7=)<#"+'50'8);)58)5'8)'<"'
F$"7)8"8+'8)<'<G:%#)'D=)'50*'*=])#"'"'50*0#$0*'"'#%)$$"-'f%5'):E"$F0';"$"'50*0#$0*')*'"<F0'
D=)'50')*#^'E%)5+'D=)'%5&0:08"+'"'0]0*';$0M"50*+'<"*'M0#0F$"MG"*')*#^5':"<'&0<0&"8"*-'
Y=)*#$0')*;"&%0')*#^'"<'$)7_*')'%5#$08=&)'=5"'50#"'$)*;)&#0'8)'<"'0$8)5"&%L5'D=)'8)E)'*)$+'
;)$0'50')*-'/<F0'D=)':0<)*#"'<"';)$&);&%L5'8)'<"'E)<<)4"'*%5':^*'D=)'%5*;%$"$G"')<'7=)<0'8)<'
;^]"$0+'<0*'&%)<0*+'<0*'#050*'"4=<)*-'
.*'%58%F5"5#)'D=)'=5'"5%:"<'D=)'*"E)'I"&)$'"<F0'#"5'E)<<0'&0:0'70<"$+';=)8"'*)$'#"5'M)0+'
#"5';)D=)p0+'&05'=5';%&0'3'=50*'0]0*'#"5'I0$$%E<)*-'
f%5'8=8"+'5=)*#$"*'&";"&%8"8)*'%5F)5%)$"*'50*'<<)5"5'8)'0$F=<<0+'*%5'):E"$F0'&="580'
??#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
7):0*'<"*'&";"&%8"8)*'"5%:"<)*+'5=)*#$0*'%5F)5%0*'50';=)8)5'*%50'E$%<<"$'&0:0')<':)#"<'8)'
<"';$L#)*%*'8)'=5'<%*%"80-
K"#$%&'$"#()!#'&*F#!%#!"#$*-!
.*'<%E)$"80$';08)$':%$"$'"<F0'D=)'50'*)":0*'50*0#$0*':%*:0*-'/<F0'<0'*=M%&%)5#):)5#)'
)D=%7"<)5#)'&0:0';"$"'D=)'*)';=)8"'8"$'=5"'%8)5#%M%&"&%L5'eI)805%*#"e+'3'<0'*=M%&%)5#):)5#)'
8%M)$)5#)';"$"'8)]"$')*;"&%0*'7"&G0*')5#$)'5=)*#$"*';$03)&&%05)*-'
.*#0*')*;"&%0*'7"&G0*'<0*'I):0*'<<)5"80'"'7)&)*'&05'5=)*#$0*';)0$)*'#):0$)*'3'0#$"*'&05'
5=)*#$"*':^*'E)<<"*'):0&%05)*,)'<0*';)0$)*'#):0$)*'8"5'M)':=&I"*'8)'<"*':%#0<0FG"*'E"*"8"*')5')<';08)$'":)5"4"5#)'8)'
<0*'"5%:"<)*+':%)5#$"*'D=)'F$"&%"*'"'<"*':^*'E)<<"*'):0&%05)*'*)'I"'F)5)$"80')<';$03)&#0'
8)'<"':08)$5%8"8'8)<':=580'0&&%8)5#"<+')5')<'D=)'<0*':07%:%)5#0*'&=<#=$"<)*'8)'7"5F="$8%"'
8)<'*-{{'I"5'8%$%F%80'*=*')*M=)$40*'"'#$"#"$'8)'&05D=%*#"$'8)*8)'8%7)$*"*'8%*&%;<%5"*';"$"'
5=)*#$"'&=<#=$"')5'0&&%8)5#)+'<"'*"E%8=$G"+'M%<0*0MG"'3')5)$FG"'8)<'yE=)5z'*"<7"]).<'F)50:"';$)*)5#"'*)&=)5&%"*'&0:;<)#"*'D=)'*05'=5"')*;)&%)'8)':"#)$%"<'8)'$)<<)50+'D=)'
50'0E)8)&)5'"<'&L8%F0'3'D=)'*05'8)*)&I"8"*'"'<"'I0$"'8)'*)$'#$"8=&%8"*+'&L8%F0'E"*=$"-'V"<'
7)4'*)"';$)&%*":)5#)')<'%5&)*"5#)'<)5F="])"$'<0'D=)'#)58$G":0*'D=)'8)*)&I"$'"'<"'I0$"'8)'
"&&)8)$'"'<0*'*)F:)5#0*'D=)'&05#%)5)5'<"'%5M0$:"&%L5'5)&)*"$%"';"$"'&05*#$=%$+';$0#)G5"*'0'
&050&%:%)5#0K"')*#_#%&"';$0;%"'8)<'"5%:"<+'8)'<"'D=)'*)'*%$7)')<'"$#)'&="580'<0'%5&0$;0$"')5'*=*'
:"5%M)*#"&%05)*+'50*'&0<:"'"<'%5*#"5#)-'!08)$'7%*="<%4"$'<"'"&#%7%8"8'8)'=5'"5%:"<+'I"&%)580'
<0'D=)'*)"+'50*'<<)5"'8)'"<F0+'#"<'7)4'8)'=5"')*;)&%)'8)'*)5*"&%L5'8)'&050&%:%)5#0'
%5*#%5#%70-'Y0*'*%$7)';"$"'$)"&#%7"$50*+'$)&05)&#"$50*+';"$"'8)*&"5*"$'8)'5=)*#$"'M0$:"'8)'
:%$"$1'_<')*'50*0#$0*'*%5'#)5)$'D=)'8"$')U;<%&"&%05)*-'f"#%*M"&)')<'*)5#%:%)5#0'I)805%*#"'8)'
"=#0'0E*)$7"&%L5+'3'"'<"'7)4')*#":0*'<%E)$"80*'8)'5=)*#$"'$)*;05*"E%<%8"8'8)'"=#0'"5^<%*%*-'
!08):0*'M<=%$')5'5=)*#$0'8)7)5%$'"5%:"<+'*"<%$'3')5#$"$')5'<0*'8%M)$)5#)*'$)%50*'D=)'50*'*05'
;$0;%0*+';"*"$'8)'<0'E%0<LF%&0'"'<"'&=<#=$"+')*'=5"'$)8)5&%L5-'
KB#E65PEB#L#A'.*(+I'!156*+"&+.?(+4$'%#'#X#?O
f&'#:!"RF0!>#/5%:"<)*'"5#$0;0:L$M%&0*#
b%:',)<703)-':5'%I*(
.5#$)'<0*'&%)$70*'8)'b%:',)<703)'I"&%)580')<'":0$+'E)*^580*)+'3'50*0#$0*+'<"'8%M)$)5&%"'
D=)8"'8)*8%E=]"8"';0$')<'I)&I0')5'&0:o5g'b%:',)<703)'50*'#%)58)'=5"')*;)&%)'8)'
):E0*&"8"+':0*#$^58050*')5'=5"';"$)]"'8)'&%)$70*'=5"'*%#="&%L5';0$'&0:;<)#0'%8_5#%&"'"'
<"*'D=)';$0#"F05%4":0*')5'<0':^*'G5#%:0+'8058)'5=)*#$"*'):0&%05)*'*)'"M%5"5'I"&%"'<0'D=)'
&$)):0*')*;)&GM%&":)5#)'I=:"50-'
65'6*C&'MC5!6_^+'=5"'80E<)'7%5&=<"&%L5'"M)&#%7"g';0$'=5'<"80'<"'):;"#G"'I"&%"')*#"';"$)]"'
I"&%)580')<'":0$+'D=)'50*';)$:%#)'8)*<%4"$50*']=5#0'&05'<0'0E*)$7"80'"'=5'<=F"$'&0:o5'3'
*)5#%$'&L:0'=5"'E"$$)$"'&=<#=$"<'*)'8%<=3)g';)$0'#":E%_5')*'=5"'0M)5*"-'K"'0E*&)5%8"8'8)'
=5"')*&)5"'%:;0*%E<)'"'<"'D=)'"*%*#%:0*')5'5=)*#$"';"$#%&=<"$'&"]"'8)'*\%55)$'j':=*)0-'K0*'
&%)$70*'50'*L<0'50*'0M)58)5'"<';$"&#%&"$'*)U0')5'5=)*#$0'*"5#="$%0e:=*)0+'*%50'D=)'"8):^*'
<0'I"&)5'"'5=)*#$"':"5)$"+'$0E^58050*'<0'D=)'8)')U&<=*%70'#)5):0*'<0*'I=:"50*g')<'":0$'
)*;%$%#="<'D=)'E=*&"'<"':%$"8"'8)<'0#$0+'<"'=5%L5'"'#$"7_*'8)<'"<%)5#0+'8)<')*;"&%0''!#%'M
%*(#%*(CA-'K"'=5%L5'8)'F)5%#"<)*'3'E0&"*')*#"E<)&)'=5'&%$&=%#0'&)$$"80';0$')<'D=)'8)]"$'M<=%$'<"*'
CN
CA
,.K.6h.'2'W6/VV/ca+'@5&+.'('#"(+'.*;"p"+'!$)e#)U#0*'ABBH+';-OP
,%0*')*'=5'E0F"7"5#)'0'=5"'80E<)e;%54"+'=5'6*C&'MC5!67*C&'MC5!6')*'=5'#_$:%50'"&=p"80';0$'W-?"#)*05'ytB"15"+$!"+#'*%O"+6'+&"+'(-$50*4%'!5"u-'NC`Hz';"$"'%58%&"$'
=5"'*%#="&%L5'8)'6*C&'+IO!1$&*'"M)&#%70'&05#$"8%&#0$%0'D=)'&0<0&"'"<'*=])#0')5'=5"'*%#="&%L5'*%5'*"<%8"'yY-'8)<'
V-zfKZV.c,a@[+'!)#)$-'2(4'%"(+T-'>"8$%8+'f%$=)<"'ABBS+'ABBC-';-NS`+'&";-'A-'2!#%'+
''&05#%5o"')5';^F-'HP
?[#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
):0&%05)*'D=)'*0:0*'&";"&)*'8)'&0:;"$#%$'&05')<'0#$0+'8%M)$)5&%^58050*'$"8%&"<:)5#)'8)<'
:)&^5%&0';$0&$)"$'8)'<0*'"5%:"<)*-
b%:',)<703)-'@566&'A'5.+>5L(K'NCCOeNCCJ
!)5*"$')5')<'&)$80')*'e)5'0&&%8)5#)e';)5*"$')5'&0:)$-'90:)$'&0;%0*":)5#)-'90:)$'3'
M)*#)]"$-'.*#"$'F0$80'&0:0'=5'&)$80-'65'$0*#$0'$0*"+'&0:0'=5'&)$80+'8)'=5"'&"$"'D=)'I"'
)*#"80'&0:%)580'3'E)E%)580')5')U&)*0-'V)5)$'=5"'E"$$%F"'$)8058"'8)'I0:E$)'
*0E$)"<%:)5#"80+'&0:0'=5'&)$80-'>*!'%!*(+1'%6*(-'
f%5'):E"$F0+'<0*'&)$80*'#"#="80*'8)'b%:',)<703'F)5)$"5'=5"')*;)&%)'8)')5&=)5#$0+'=5'
:0:)5#0')5'D=)')<'"5%:"<'*)')U#$")'8)'<"'%5)7%#"E<)'"*0&%"&%L5'=#%<%#"$%"'D=)')*#"E<)&)'
5=)*#$"':%$"8"'"<'7)$<0*.<'#"#="])'<0*'&057%)$#)')5'"<F0':^*'D=)'<"*'M^E$%&"*'E%0D=G:%&"*')5'D=)'*)'I"5'&057)$#%80'
)5'5=)*#$0':=580+'&0:0'*%'#08"7G"'&=;%)$"'=5"';0*%E%<%8"8'8)'D=)'<0*'"5%:"<)*';=8%)$"5'
&0:;"$#%$'5=)*#$"'&=<#=$"g')5';<)5"'#"$)"'"M"50*"'3'#)5*"+')5&05#$":0*'"'=5'7%)]0'":%F0'"Av+
#c+#".C5,!+'(#?(+"-$OK+)*#":0*'"&0:;"p"80*')5')<'*%5%)*#$0'7%"])'8)'<"')*;)&%)N+
K0*'&)$80*'#"#="80*+'$)"<%4"580'*=*'#"$)"*'8)'&)$80+';)$0':0*#$"580'&05'#08"'5"#=$"<%8"8'
=5'M$"F:)5#0'8)'5=)*#$"'&=<#=$"+';"$)&)5'<<)7"$'*=*'#"#="])*';0$'=5"'8)&%*%L5'"=#L50:"+'
&0:0'*%'<"'&057%7)5&%"';=8%)$"'I"&)$<)*';"$#%&%;"$']=5#0'&05'50*0#$0*'8)'=5"'&=<#=$"'&=3"*'
;=)$#"*+')5'$)"<%8"8+'#)5):0*'E%)5'&)$$"8"*'"'<0'"])50+'"'<0'0#$0+'"'<0'D=)'D=)8"'M=)$"'8)'
%*(#%*(N+F*C%'+&"+'.'%L'!15"+6'+&"+'(4'%"+O!#5."+5!#'%4"15"&N
KB#E65PEB#L#A'.*(+I'!156*+"&+.?(+4$'%#'#X#?U
5=)*#$"')*M)$"+'*%)580')*#"')*M)$"':0<8)"E<)'*)Fo5'<"'0&"*%L5+'*%):;$)'*)Fo5'5=)*#$0*'
%5#)$)*)*f%5'):E"$F0+')5'*='*%<)5&%0+')5'*='5)F"&%L5'8)<'<)5F="])+'<0*'"5%:"<)*'*)'$)*)$7"5'=5"'
<%E)$#"8'$)*;)&#0'8)'50*0#$0*g'*)'*=*#$")5'"'5=)*#$0'80:%5%0+'3';0$':^*'D=)';08":0*'
=#%<%4"$')<'$)&=$*0'"5%:"<')5'5=)*#$0'E)5)M%&%0+'*=':%*#)$%0'*%):;$)'*)'50*'5%)F".<'"5%:"<'50*'8%$%F)'*=':%$"8"'8)'%F="<'M0$:"'D=)'<0'I"&):0*')5#$)'50*0#$0*g'*=*'0]0*'
;)5)#$"5'0')*&$=#"5'&05'%F="<'%5#)<%F)5&%"-'
/'#$"7_*'8)'*=':%$"8"'*)'50*')*#"E<)&)5'&0:0'%F="<)*+':%)5#$"*'D=)'*='5)F"&%L5'"'I"E<"$'
50*';$%7"'8)'*='&050&%:%)5#0+'*%)580';$0E"E<):)5#)'<"';"$#)':^*'%5&";"4')5')*#)'
%5#)$&":E%0'<"'D=)';05):0*'50*0#$0*+'D=)'5)&)*%#":0*'8)<'<)5F="])';"$"'#0:"$')5'
&05*%8)$"&%L5'3'$)*;)#"$'&0:0'"'=5'%F="<'"'5=)*#$0'%5#)$<0&=#0$/<F=50*'"5%:"<)*'I"5'8)&%8%80'&057%7%$'&05'50*0#$0*+'*0:)#)$*)'"'5=)*#$"'70<=5#"8+'8)]"$*)'
:"58"$'3'0E)8)&)$+'3')*#0':%*:0+'*%):;$)'*)$^'=5':%*#)$%0-'!08):0*'7)5&)$'"<':^*'M=)$#)+'
"=5D=)'50')5#)58":0*'<0'D=)')*#0'$)"<:)5#)'*=;05)8F%#P)!/b
L$6*,#,#M&N4
2!#*!1'(+'(#?+'&+.*.'!#*+6'+&"+#*."+6'+1*!15'!15"+6'&+*#%*K+."#'%5"&50"6*+
'!+&"+('/"%"158!+4O(51"+6'+&"+."6%'+;+'&+A53*K+;+%'M(5#$"6*+6'(6'+&"+/%5.'%"+
1*!1'/#$"&50"158!+6'+/'%(*!"(+;+*C3'#*(+'!+$!+'(/"15*+'d#'%5*%+"+&"+/5'&K+
A"(#"+'&+/%5.'%+'!1$'!#%*+1*!+$!+"!5."&+("&I"3'+'!+&"+!"#$%"&'0"N+2&+/*6'%+
6'+&"+.5%"6"+1%5(#"&50"+'(*(+.*.'!#*(K+;+&*(+*3*(+('+1*!I5'%#'!+'!+'&+
1*!6$1#*+6'&+5!#'%1".C5*+6'+'!'%LO"(+'!#%'+'&+*%L"!5(.*+;+($+'!#*%!*K+
'!#%'+'&+*C('%I"6*%+;+'&+*C('%I"6*N+j!"+&O!'"+6'+I5($"&50"158!+/$'6'+#"!#*+
('115*!"%+'&+?%'"+6'+('/"%"158!+'!#%'+($3'#*+;+*C3'#*K+1*.*+6'45!5%&"N_Y'
y#$"8=&&%L5'8)'<"'"=#0$"z
CS
RaZK/+'?%<<-'G'"(*!(+4*%+\!*1\5!L+*!+"!+2./#;+B*$('N+[%5#5!L(+^_`Y+E+^__a-'VI":)*'"58'Q=8*05+'K058$)*'
VI)5'#I)$)'%*'#I)':0:)5#'0M'"k"$)5)**'0M'#I)'0#I)$+'):E08%)8'%5'#I)';I3*%&"<'*);"$"#%05'0M':0#I)$'"58'
&I%<8+'"58'$)*#"#)8'M$0:'#I)'M%$*#'&05&);#="<%4"#%05'0M';)$*05*'"58'0E])&#*'%5'"'*;"&)'0=#*%8)'#I)'*\%5+'#0'#I)'
M%$*#')5&0=5#)$'k%#I'"5'"5%:"<'%5'#I)'k%<8-'VI)';0k)$'0M'#I)'F"4)'&$3*#"<<%4)*'#I)*)':0:)5#*+'"58'#I)')3)*'
E)&0:)'#I)'&058=%#*'0M'#I)')U&I"5F)'0M')5)$F%)*'E)#k))5'#I)'0$F"5%*:'"58'#I)')57%$05:)5#+'E)#k))5'#I)'
0E*)$7)$'"58'#I)'0E*)$7)8-'/'<%5)'0M'*%FI#'&"5']=*#'"*')"*%<3'*<%&)'#I$0=FI'#I)'*);"$"#%05'E)#k))5'*=E])&#'
"58'0E])&#'"*'%#'&"5'8)M%5)'%#
OW#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
c05'>=)&\-'[*."!+"!6+:A5&6K_a+ABBN
'
.<'5)05"#0')*+')5'5=)*#$0'%:"F%5"$%0'8)'"8=<#0*'0&&%8)5#"<)*+'=5'L$F"50'*%5'&=)$;0C`+'=5'
&%$&=%#0'M=5&%05"<'D=)'#08"7G"'5)&)*%#"'8)'=5'0$8)5":%)5#0':)&^5%&0'8)'<"*':"#)$%"*+'D=)'
;0*%E%<%#)')<'M<=]0'8)'%5#)5*%8"8)*'<%E$)*+'D=)';=)8)5'8"$*)'=5"'7)4'D=)'<"':^D=%5"')*#^'
M0$:"8"-'!0$')<'&05#$"$%0+')<'&=)$;0'8)'<"':"8$)')*#^'M0$:"80+')*'"=#L50:0+')U;)$%:)5#"80'
3'$("C&'+'3')*#"E<)&)'=5'&05#$"*#)'&05')<'&=)$;0'8)<'5)05"#0+';"$)&%80'"'"<F=50'8)'<0*'
L$F"50*'&05'<0*'D=)'I"'&$)&%80CH+'*=';%)<'*%5'$)<<)5"$+'*=*':o*&=<0*'E<"580*+'*=';0*#=$"'
7%&%"8"-'.<'5%p0'7%)5)'8)'=5'7%"])'D=)'*%):;$)';)$:"5)&)$^'&0:0':%*#)$%0H+#%"I,(+6'&+%*(#%*K+'!+($(+(5'#'+I"%5"!#'(K+('+#%"!(&$1'K+/&"(."6*+(5'./%'+6'&+.5(.*+.*6*K+
"&L*+6'("&."6*+-$'K+I5!5'!6*+6'+&'3*(K+!*+/$'6'+1*!I'%#5%('+'!#'%".'!#'+'!+"&L*+/%*/5*N+
CO
C`
CH
@"6%'+'+B53*'y#$"8=&&%L5'8)'<"'"=#0$"z
,.K.6h.'3'W6/VV/ca+'@5&+.'('#"(K+1"/5#"&5(.*+;+'(-$50*4%'!5"N'.*;"p"+'!$)e#)U#0*'ABBH+';-OJ
2&+/%*4'(*%+:A"&&'!L$'%+'d/&518+-$'+&"+#5'%%"+'%"+$!+1$'%/*+(5!+8%L"!*(N+2(#'+1$'%/*+(5!+8%L"!*(+'(#"C"+
"#%"I'("6*+/*%+."#'%5"(+5!'(#"C&'(+!*+4*%."6"(K+4&$3*(+'!+#*6*(+&*(+('!#56*(K+5!#'!(56"6'(+&5C%'(+*+
(5!L$&"%56"6'(+!8."6"(K+/"%#O1$&"(+&*1"(+*+#%"!(5#*%5"(N+
fKZV.c,a@[+'!)#)$-'2(4'%"(+T+'f%$=)<"'ABBS+';-SAH
--)<'L$F"50'8)'$)<"&%L5':^*'G5#%:0'3'F)5)$"<+')<'1*!+'*L<0')*#^'$)<"&%05"80'&05#%F0+'3'8)*";"$)&)'8)<':=580'
)5')<'%5*#"5#)')5')<'D=)'#o'";"$)&)*'&0:0'<"';)$*05"';$%5&%;"<g')5#05&)*'8)]"*'8)'*)$'=5'#".C5,!+'3"'D=)'
%5:)8%"#":)5#)'"'#='";"$%&%L5')U#)$5"'*)'#)'"*%F5"'=5'50:E$)';$0;%0'D=)'#)';$);"$"';"$"')<'8)7)5%$'
%58%7%8=01')<'1*!';0$')<'&05#$"$%0'50')*'E"=#%4"80'3'8)*";"$)&)'8)'<"*':%$"8"*'8)'<0*'7%70*+'&0:0'#":E%_5'
8)'#%':%*:0v'w'/=5D=)')<'1*!+)$"'#='$)"&#%70';$%7"80+'D=)'&0:;"$#G"'&05#%F0'#='"<":E%D=)+'#='&"#"<%4"80$'3'#='
%5#)$:)8%"$%0+'D=)8"'&058)5"80'"'*)$'#=')U&)8)5#)'0<7%8"80-'Vo')$)*')<'*/$(+*!'+')<'1*!+;)$)&)$^v'w'K"*'&":"*+'"<:0I"805)*+'&0]%5)*+'&0E)$#0$)*+'*^E"5"*+';<=:05)*'3')8$)805)*+'$):%#)5'#"5'&<"$"'&0:0'
8%*&$)#":)5#)'"<'L$F"50';"$"e#%'0$%F%5"$%0-'
KB#E65PEB#L#A'.*(+I'!156*+"&+.?(+4$'%#'#X#O4
2('+%*(#%*+."!#5'!'+'&+C"&"!1'+'!#%'+$!"+I'%6"6+A*%%5C&'K+-$'+;"+1"(5+6'(45L$%"K+;+$!"+
I*&$!#"6+6'+($/'%I5I'!15"K+-$'+;"+1"(5+/%*6$1'+&"+C'&&"+.?(1"%"N_`
.<':0:)5#0'8)<'5"&%:%)5#0')*'"5^<0F0'"'<"';$%:)$"'8%7%*%L5'8)'<"'&_<=<"g'8058)'I"EG"'=5"+'
"I0$"'I"3'80*'D=)+'"=5'*);"$"8"*+';)$:"5)&)5'=5%8"*g'#":E%_5'":E0*'<"80*'8)'<0*'
&$0:0*0:"*':%$^580*)'"<'*);"$"$*)';"$"']=5#"$*)'&05'0#$0*---')<':0:)5#0'8)<';"$#0')*'=5"'
*);"$"&%L5'3'=5"'5=)7"'=5%L5-'65%L5'%5#)$M"&%"<-'9*(+%*(#%*(+A$."!*(+A"!+("&56*+"+&"+&$0+
6'(6'+&"+45L$%"+"!5."&+";$6?!6*('+%'1O/%*1".'!#'+'!+$!+&"%L*+6%"."+'I*&$#5I*K+'(+6'15%K+'!+
15'%#*+.*6*+/*%+(5./&'+.5%"%('+$!*(+"+*#%*(N+r+s+&*(+%*(#%*(+A$."!*(+"!#5L$*(+6'+&"+,/*1"+6'+
&"(+A*%6"(+(*!+;"+/&"(."15*!'(+'(1$&#$%"&'(+6'+&"+"#'!158!+-$'+('+65%5L'!+.$#$".'!#'+&*(+
'3'./&"%'(+("/5'!(+"&+.5%"%('+$!*(+"+*#%*(NCP
.<')*;)&#"80$'*)')5&=)5#$"'&05'=5"'M%F=$"'D=)'&05F)<"')<':0:)5#0')5'D=)')<'D=)')$"'80*'
*)'&057%)$#)')5'=50'3'<"'D=)')$"'=50'*)'&057%)$#)')5'80*+'=5':0:)5#0'8)':^U%:"'%5#%:%8"8+'
3'#"<'&0:0')*#^'$)M<)]"80')5')*#"';%)4"+'8)':^U%:"';)$;<)]%8"8-'
r}=_'*=&)8)'&="580'=5'"&#0'D=)'8)*8)'<"')*M)$"'G5#%:"'*)'8)*;<"4L'"'<"')*M)$"'&<G5%&"+'
"I0$"'*)'%5*&$%E)')5'=5"')*M)$"';oE<%&"+'8%$%F%8"'"<';oE<%&0+'5)&)*%#"8"'8)';oE<%&0s'Q):0*'
%$$=:;%80')5'=5')*&)5"$%0'D=)'50'50*';<"5#)"'"<F0';"$"'<"'&05#):;<"&%L5'0';"$"'<"'$)M<)U%L5+'
&0:0')*'I"E%#="<')5')<'"$#)+'*%50'=5')*&)5"$%0')5')<'D=)'*0E$":0*-'65':0:)5#0'G5#%:0'D=)'
;0$'M=)$4"'50*'8)]"'M=)$"'3'50*'I"&)'*)$'%:;)$#%5)5#)*-'Q):0*'*%80'%5:%*&=%80*-'
f%5'):E"$F0'<"')*M)$"'F)5)$"8"';0$'":E0*'*=])#0*'$)&%_5'*);"$"80*'3'7=)<#0*'"'=5%$'
;)$:"5)&)'#"5')*#^#%&"'&0:0')*'0E<%F"80'8"8"'*='M"<#"'8)'7%8"+'*='*)$'0E])#0-'K"'$)*%5"'50'
;=)8)'70<7)$'*=':%$"8"';"$"'7)$'D=_';"*"+'D=%_5'%$$=:;)')5')*)':0:)5#0'o5%&0-'K"'M=)$4"'
8)<':"#)$%"<')*'#"<'7)4')D=%7"<)5#)'"'<"'M=)$4"'8)'<"')5)$FG"'8)<':0:)5#0'8)'7%5&=<"&%L5'D=)'
$)#$"#"'<"';%)4"c05'>=)&\'$)"<%4"'=5'$)#$"#0':"$"7%<<0*0'8)'<"')U#$"p)4"-'K"':%*:"':%$"8"'8)')U#$"p)4"'
D=)';08):0*'";$)&%"$')5'<0*'E)E_*+'";"$)&)'"D=G')5'<"':"8$)'D=)'I"';"$%80-'.5&05#$":0*'
<"':%*:"')U#$"p)4"')5')<'$)&%_5'<<)F"80+'D=)'8)E)'";$)58)$'"'=*"$'3'"'&08%M%&"$'=5':05#L5'
CJ
CP
fKZV.c,a@[+'!)#)$-'2(4'%"(+T+'f%$=)<"'ABBS+';-NPN
fKZV.c,a@[+'!)#)$-'2(4'%"(+T+'f%$=)<"'ABBS'9";G#=<0'A+';-NAS'
.5#$)'$0*#$0*-'f0E$)'<"'):)$F)5&%"'8)'<"')*M)$"'G5#%:"'%5#)$M"&%"<-'y.<'5"&%:%)5#0'8)<'$0*#$0'"';"$#%$'8)<'
)*;"&%0'%5#)$M"&%"<z-'
O@#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
8)'%5M0$:"&%L5+'&0:0')5'<"':"8$)'D=)'8)E)'"&);#"$'D=)'<0'D=)'I"'*=&)8%80+'I"'*=&)8%80'"<'
:"$F)5'8)'&="<D=%)$')U;<%&"&%L5'&=<#=$"<+'8)'&="<D=%)$'&05*#$=&&%L5'8)'*)5#%80+'D=)'<0'D=)'*='
&=)$;0'I"'$)"<%4"80'*%):;$)';)$:"5)&)$^')5'&<"7)-'/:E0*')5&=)5#$"5'"5#)'*G'=5':=580'
&08%M%&"80'D=)'8%M%)$)'8)'*='$)&%)5#)')U;)$%)5&%"-'
Y0';=)80'%5#=%$+'5%'%:"F%5"$'<0'D=)';%)5*"')<'E)E_')5')*)':0:)5#0+';)$0'&$)0'D=)'"'<"'
:"8$)'*)'<)'I"&)')7%8)5#)'D=)'*='<)5F="])'5=5&"'<)';)$:%#%$^'<"')U;$)*%L5'8)'<0'D=)'"&"E"'
8)'*=&)8)$+'3';0$'#"5#0'50'<)';)$:%#%$^';$0M=58%4"$'5%'&0:=5%&"$')*)':%*#)$%0')5'*='*0&%)8"8+'
)5'*='&=<#=$"O4'P*,#,%#/%#P4+,
c05'>=)&\+'@"!+5!+"+C*"#K__+NCCA
K"':%*:"';)$;<)]%8"8'D=)')5&05#$":0*')5')<')5&=)5#$0')5#$)':"8$)')'I%]0+'*)')5&=)5#$"')5'
)<'I0:E$)'3'<"'E"$&"-'/<<G'=5"':=])$'3'=5'5%p0+'"D=G'=5'I0:E$)')5':)8%0'8)'=5'*=;=)*#0'
0&_"50'#$"#"580'8)'7%*<=:E$"$--'r)<'D=_s'
†<')5'<"'E"$&"'#%)5)'<"':%*:"')U;$)*%L5':%$"580'8)#$^*'8)<'x"<<Gx'D=)')<<"':%$"580'"'<"'
;)$*05"'$)&%_5'*"<%8"'8)'*='&=)$;0+'"'*='I%]0'$)&%_5'*"<%80-'K0*'$)#$"#0*'8)'>=)&\';"$)&)5'
D=)$)$':0*#$"$'D=)')<'"E*=$80'8)'<"'%5#)<%F)5&%"')*'<"'5"#=$"<)4"'8)<'I=:"50-'K"':%$"8"'8)'
CC
B*.C%'+'!+$!+C*#'+y#$"8=&&%L5'8)'<"'"=#0$"z
KB#E65PEB#L#A'.*(+I'!156*+"&+.?(+4$'%#'#X#OJ
)<<"'*)'8%$%F)'"'<"':^U%:"')U;$)*%L5'8)'7%8"+':%)5#$"*'D=)'<"'8)'_<'&$)"'=5"'*%#="&%L5'8)'
%5:)5*%8"8'D=)'50')*#^+'8)'%5:)5*0'7"&G0-'c)#$"#0*'8)';)$;<)]0*-'K"':%$"8"'8)')<<"'
)5&=)5#$"'*=;)$M%&%)'8)'$)M<)U%L5')5'<"':%$"8"'8)'*='I%]0+'7%8"')5&=)5#$"'7%8"+':%)5#$"*'D=)'
<"':%$"8"'8)'_<')*'$)*;05*"E<)'8)'=5"'M=)$4"';*%&0<LF%&"')50$:):)5#)'*=#%<g')50$:)'3'*=#%<-'
.*')50$:)'<0'D=)'50')*#^+'3';0$D=)'*%)580'#"5')50$:)'50')*#^+'"8D=%)$)'=5"')U&);&%05"<'
M=)$4"'5!4%"&'I'-'!0$')U&)*0'8)'7%8"'3';0$'M"<#"'8)')<<"-'r,0*';0<0*'D=)'&05*#$=3)5'<"'
%5#)<%F)5&%"s
†<+')<<"+'<"'5=)7"'7%8"'8)<'5%p0'3'<"'5"8"'&05'8%:)5*%05)*'0&)^5%&"*-'
:$'&!%#Q&*,->#)"15.5'!#*
=*6*(+&*(+1$'%/*(+('+'!1$'!#%"!+$!*(+"+*#%*(+1*.*+/*%#"6*%'(+
."L!,#51*(+6'+4$'%0"+'!+$!+,#'%+6'+L%"I5#"158!+"!5."&N^ee
,":%)5'Q%$*#++S5%#A+P:;%$(Q^e^+ABBH
.<'5"&%)5#)'8)',":%)5'Q%$*#+';0$')<'&05#$"$%0+';$)*&%58)'8)'*=';$0F)5%)g'*"<)'F$%*')5#$)'
;<%)F=)*'#"5'0$F^5%&0*'&0:0'<0*'D=)'_<':%*:0'#$")'3'D=)'I"&)5';)5*"$')5'<"'M0$:"'D=)'
8)E)'$)%5"$')5')<'%5#)$%0$':"#)$50g'F$%*')5#$)'<0*'"4=<)*'3'":"$%<<0*'8)'<0*'F="5#)*'3'<"*'
E"#"*g'<"':"8$)')*'%$$)&050&%E<)g')<'5%p0'7%)5)';0$'&)*^$)"+')<'&=)$;0'8)'<"':"8$)'50'*)'
NBB fKZV.c,a@[+'!)#)$-'2(4'%"(+T+'>"8$%8'f%$=)<"'ABBS-';-ANA
NBN )"15.5'!#*+6'+:;%$('y#$"8=&&%L5'8)'<"'"=#0$"z
OI#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
;=)8)'$)&050&)$')5'<"'%:"F)5'D=)';<"5#)"'Q%$*#+')*'=5"':"*"'8)'&0<0$'&"$5)'0'&0<0$'
;<^*#%&0+'&05':"5&I"*-'Y0'*)')5#%)58)'<"')U#$"p"'M0$:"'D=)'#%)5)-'.<';"$#0'*)'";"$#"'8)<'
&"5"<'50$:"<'8)'<"'7"F%5"+';"$"'*"<%$*)';0$'<"'#"5F)5#)-'/D=G+'<"';%5#=$"+'=5';<"50':)5#"<+'=5"'
%<=*%L5'L;#%&"+'=5"'$)"<%8"8'7%$#="<g'"<<G'ec05'>=)&\e'<"')*&=<#=$"+'=5"')D=%7"<)5&%"')5')<'
:=580'8)'<"*'#$)*'8%:)5*%05)*K"'*)$%)'8)'&="8$0*'"<'L<)0+'D=)'I"'*%80'$)"<%4"8"'"';"$#%$'8)'M0#0F$"MG"*+'*)'#%#=<"'?%$#I'
!"%5#%5F*NBA'3':=)*#$"+'8)'=5':080'I%;)$$)"<%*#"')<'5"&%:%)5#0';0$'&)*^$)"'8)'*='I%]0'93$=*-'
f05'*%)#)'&="8$0*'8)'F$"5'M0$:"#0g')5')<';$%:)$0'*)'$)#$"#"5'<0*'=#)5*%<%0*'D=%$o$F%&0*'D=)'
*)'=*"$^5')5'<"'0;)$"&%L5g')<'*)F=580+'#)$&)$0'3'&="$#0'*05'%:^F)5)*'8)<'5%p0+'$08)"80'8)'
<0*':_8%&0*+'<"*'<=&)*'8)<'D=%$LM"50+')#&-+')<'D=%5#0'3'*)U#0'*05'%:^F)5)*'8)'<"*':"50*'8)'
<0*':_8%&0*'&0*%)580')<'7%)5#$)'8)'<"':"8$)+'3')<'o<#%:0')*'=5'$)#$"#0'8)<';$0;%0'Q%$*#'&05'<0*'
"#=)580*'D=%$o$F%&0*')5'=5"'I"E%#"&%L5'8)<'I0*;%#"<+'*0<0')5#$)'=50*'#=E0*'3'E0#)*+'3'=5"'
&":"'7"&G"')5'<"'D=)'*)'";03"+')5'=5"';0*#=$"'=5'#"5#0'%5)*#"E<).<'*)F=580'8)'<0*'&="8$0*')*'<"'%:"F)5'*)<)&&%05"8"')5')*#)'#$"E"]0-'>=)*#$"'<"*':"50*'
&05'F="5#)*'8)'<0*':_8%&0*'D=)'"3=8"5'"<'5"&%)5#)'"'*"<%$+'<"*'E"#"*'"4=<)*+'#080';$)*)5#"'
<"':%*:"'7%*&0*%8"8+';"$)&)')<':%*:0'#%;0'8)':"#)$%"-'.5#$)'<0'D=)'*"<)'8)'"8)5#$0'3')*)'
"M=)$"'50'I"3'8%M)$)5&%"':"#_$%&"+'*L<0')<'&0<0$+'<"'<=4+')<'5"&%)5#)')*#^';%5#"80')5'=5"'
)*;)&%)'8)'F$%*':)#^<%&0+':%)5#$"*'D=)')<'$)*#0'8)'<*0';<%)F=)*'*05'"4=<)*-'.<'5%p0')*'<"'
o5%&"';)$*05"'D=)'*)'7)-'K0'8):^*'*05':"50*+'3')5#$)')*#"*+'<"'8)<'5"&%)5#)'7=)<7)'"'*)$'<"'
o5%&"'D=)'*)'7)'&0:;<)#"+')*M0$4"8"+')5';$%:)$';<"50'3')U;<%&%#":)5#)-'
.<'5"&%)5#)')*#^'$)"<%4"580'=5':07%:%)5#0'&05':=&I0')*M=)$40+'*='$0*#$0'M0$4"80'&0:0')<'
8)'=5':%5)$0')5'=5':0:)5#0'8)':^U%:"'#)5*%L5-'.*#^'5"&%)580'*0<0+'*%5'<"'"3=8"'8)'<"'
:"8$)+'&05'<"'"3=8"'8)'M=5&%05"$%0*'8)<';"$#0-'.<'5%p0'5"&)'*=M$%)580-
NBA >5!#$%"(+6'+!"15.5'!#*+y#$"8=&&%L5'8)'<"'"=#0$"z
BE#PE6E:E#X#OS
BE#PE6E:E
l:8.*+('+/$'6'+1*!3$%"%+;+3$%".'!#"%+"+$!+!c.'%*+#"!+L%"!6'+6'+('%'(+
A$."!*(+6'+#"&+."!'%"+-$'K+'!+I5%#$6+6'+$!+.O!5.*+6'+'(/O%5#$+1*.c!K+('+
1*!(56'%'!+(*15*(+6'+"-$'&&"+L%"!6'0"]^eY
K"':"5"8"')*'<0*'%58%7%8=0*'D=)'<"'M0$:"5+'<"*'$)<"&%05)*'D=)'*)')*#"E<)&)5')5#$)')<<0*-'
K0*':^*'7=<5)$"E<)*'"<'&)5#$0+'"<$)8)80$'=5'"5%<<0'8)':=$"<<"+'D=)';$0#)F)'I"&%"'"8)5#$0+'3'
":)5"4"'I"&%"'"M=)$"-'
f%')*'=50'0'*%5'*05':=&I0*'50'%:;0$#"g')<'$0*#$0'":)5"4"5#)'8)'<"*'"<"*'8)'<"':"$%;0*"-'
650'*L<0'8)'50*0#$0*')*'*%):;$)':=&I0*+'3'&"8"'=50'&05'&"8"'=50'F)5)$"':=<#%;<%&%8"8)*'
%5M%5%#"*-'2')*#"*'%5M%5%#"*':=<#%;<%&%8"8)*'*05'<"*'D=)')5#$)'*G'M0$:"5')*#$"#0*'8)'E<0D=)*'8)'
8)7)5%$-'f0:0*'&"<80')5'&05*#"5#)':07%:%)5#0'F)<"#%50*0K"':"5"8"+'*=')*;"&%0'M$05#)$%40+'*=';)$%M)$%"g'rD=%_5)*')*#^5'8)5#$0+'&L:0'*)'"$#%&=<"5'3'
&L:0'*)'"$#%&=<"5'&05'<0'8)'"M=)$"s+'3')5#$)'":E0*'rD=%_5'I"3+'3'"'D=_'*)'8)8%&"s-'
K"#$%F'$"
.<'"50:"<1'"&&O+6*!6'+A";"+$!"+.$&#5/&5156"6K+'!1*!#%"%,5(+#".C5,!+$!+5!65I56$*+'d1'/15*!"&K+
;+1*!+,&+'(+1*!+-$5'!+A"C%?+-$'+A"1'%+"&5"!0"+/"%"+6'I'!5%M"!5."&N+f05'<0*'E$=]0*'<0*'D=)'
I"5'0&=;"80'<"';0*%&%L5'"50:"<')5')<'E0$8)'8)<';=)E<0+'0')5#$)'80*';=)E<0*-^ea
!"$)&)')<']=)F0'8)'=5':"<"E"$%*#"'D=)+'*%5&$05%4"580'*=*')5)$FG"*'&05'"<F=5"*';)<0#"*'
$)8058"*+'#$"4"'8%M)$)5#)*'M%F=$"*+'I"&%_580<)*'&05#%5="$'*=':07%:%)5#0'0'%:;$%:%)580'=5'
F%$0')5'_<+'$)"<%4"580'&0:E%5"&%05)*+'*%):;$)')5'=5"'";"$)5#)'&05#%5=%8"8'I)&I"'8)'
%5#)$$=;&%05)*'3'&":E%0*g'8058)'=5"'E0<"'8)EG"'&05#%5="$'=5"'*)&=)5&%"+')<':"<"E"$%*#"'<)'
%:;$%:)'=5"'$=#"'&05#$"$%"-'2'"'7)&)*+'*)Fo5'<"';)$%&%"'8)<':"<"E"$%*#"+'=5"'E0<"'D=)'&")'3'
I"&)'D=)'#080'&0:%)5&)'8)'5=)7065':"<"E"$%*#"+'=5')5#$)#)5)80$+')<'D=)'F)5)$"'=5')*;)&#^&=<0';"$"')5#$)#)5)$'"'=5'$)3-'.<'
)*;)&#^&=<0'&05')<'D=)':^*'#"$8)')<'$)3'e]=F"580'*=*';$0;%"*':"<"E"$)*e+'#$"#"$^'8)'
NBS fKZV.c,a@['+'!)#)$-'2!+'&+.5(.*+C"%1*K+.*;"p"+'f%$=)<"'NCCC+';-SJ
NBO ,.K.6h.'3'W6/VV/ca-'@5&+.'('#"(K+1"/5#"&5(.*+;+'(-$50*4%'!5"+'.*;"p"+'!$)e#)U#0*'ABBB+'NB-'NJSB'e'
,)7)5%$e%5#)5*0+'8)7)5%$e"5%:"<+'8)7)5%$e%:;)$&);#%E<)-
O?#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
)5#$)#)5)$'"'*=*'*oE8%#0*';"$"':"5#)5)$'*=';08)$+'3'<"*'8)$%7"&%05)*'8)')*)']=)F0':"<"E"$1'
=*6*(+&*(+.*!(#%$*(+A$."!*(+(*!+6'(1'!65'!#'(+6'+9$5(+gDT^euN+
.<':"<"E"$%*#"'3')<';"3"*0-':&*R!+=*%#$%'^etN+.<';"3"*0'D=)'<<0$"'8)'&0*D=%<<"*+'$04"580'<0'
#)$$0$GM%&0+'=5';)$*05"])'M=)$"'8)'*=')*;"&%0+')5&)$$"80+'*)&=)*#$"80g'=5'"$#%M%&%0'"<'D=)'*)'<)'
I"'&":E%"80')<';oE<%&0-'.<';"3"*0'7G&#%:"-'@5+#%"C"3*+('+L'!'%"+"+/"%#5%+6'+.5+4%$(#%"158!+
1*!+&"+1*!65158!+A$."!"N+q+1*!+&"+."!'%"+'!+-$'+&"+L'!#'+('+!5'L"+"+1*./%'!6'%+"+&"+*#%"+
L'!#'N+q+1*!+'&+.*6*+'!+-$'+&"+L'!#'+/$'6'+('%+1%$'&+.$#$".'!#'N+NBJ'
2&+6'I'!5%+(5'./%'+'(+6'+*#%*+*%6'!+-$'+'&+6'+&"+45&5"158!K+'(+6'&+*%6'!+6'+&"+"&5"!0"^eoN+K"'
"<%"54"'D=)'*)'8"'F$"&%"*'"'<"')U%*#)5&%"'8)'=5')5):%F0'&0:o5-'V":E%_5')*#)'=5"*'7)&)*'
"D=G'3'0#$"*'"<<G-'65"*'7)&)*'<"'E0<"'$0]"+'0#$"*'<"'7)$8)-'9*(+6'I'!5%'(+"!5."&'(+/'%#'!'1'!+
"+&"(+(*15'6"6'(+6'+1"0"K+6'+L$'%%"K+6'+1%5.'!K+('1%'#"(^e_N
S"!1*(K+C"!6"(K+%'C"b*(K+/*C&"15*!'(+(*!+"4'1#*(+;+/*#'!15"(K+5!I*&$15*!'(K+-$'+"%%"(#%"!+
"+#*6*+"!5."&+"+$!+6'I'!5%+!*+.'!*(+/*#'!#'+-$'+'&+6'&+A*.C%'+1*!+'&+"!5."&N+r+s+9"+
C*#?!51"+'(+'!#'%".'!#'+%50*.?#51"N+9"(+."!"6"(+#".C5,!+&*+(*!N+
.<'8)7)5%$e"5%:"<'&0:0';$%5&%;%0')*)5&%"<:)5#)'*%:E%L#%&0-'F5+&"+'I*&$158!+5./&51"+
I'%6"6'%*(+6'I'!5%'(+'(+'!+'&+C"(#*+6*.5!5*+6'+&"(+(5.C5*(5(+-$'+/*!'+'!+3$'L*+('%'(+6'+
'(1"&"(+;+%'5!*(+1*./&'#".'!#'+654'%'!#'(K+(5!+!5!L$!"+45&5"158!+/*(5C&'N+2I*&$158!+
1*.$!51"#5I"+*+1*!#"L5*("^^eN+
K0*'"5%:"<)*'*05':"5"8"+'3'<"'M0$:"&%L5+'8)*"$$0<<0'3'#$"5*M0$:"&%L5'8)'<"':"5"8"')*';0$'
&05#"F%0+';0$'"M)&#0+';0$'^#0:0*'D=)'M0$:"5'E<0D=)*'8)'8)7)5%$'&05'0#$0*'^#0:0*+'&0:0'
NB` (Z69/6KV+'>%&I)<+'9*(+"!*%."&'(N+:$%(*+6'&+:*&&•L'+6'+Z%"!1'+P^_`uM^_`uQ+'/\"<'ABB+';-CA
NBH !%)4"'8)'?$=&)'Y"=:"5NBJ Y/6>/Y+'?$=&)+'&%#"80')5'fa>ZY+'@0"5++VS%'"\5!L+#A'+(5&'!1'J+"!+5!#'%I5'R+R5#A+S%$1'+)"$."!W+'H%#+5!+
H.'%51"+yY)k'20$\z'JH+'5‡'C'y*);#%):E$)'NCPPz+';-'NOJ+'#0:"80'8)'S%$1'+)"$."!K+=A'"#'%(+*4+'d/'%5'!1'K+
,)=#*&I)'W=FF)5I)%:+'?)$<%5+'ABBS+';-NJ
@;+R*%\+1*.'(+*$#+*4+C'5!L+4%$(#%"#'6+R5#A+#A'+A$."!+1*!65#5*!N+H!6+"C*$#+A*R+/'*/&'+%'4$('+#*+
$!6'%(#"!6+*#A'%+/'*/&'N+H!6+"C*$#+A*R+/'*/&'+1"!+C'+1%$'&+#*+'"1A+*#A'%N
NBP ,.K.6h.'3'W6/VV/ca+'>%<':)*)#"*+'&";%#"<%*:0'3')*D=%40M$)5%"+'.*;"p"+'!$)e#)U#0*'ABBH+'NB-'NJSB'e'
,)7)5%$e%5#)5*0+'8)7)5%$e"5%:"<+'8)7)5%$e%:;)$&);#%E<)NBC ,.K.6h.'3'W6/VV/ca+'>%<':)*)#"*+'&";%#"<%*:0'3')*D=%40M$)5%"+'.*;"p"+'!$)e#)U#0*'ABBH+'NB-'NJSB'e'
,)7)5%$e%5#)5*0+'8)7)5%$e"5%:"<+'8)7)5%$e%:;)$&);#%E<)NNB ,.K.6h.'3'W6/VV/ca+'>%<':)*)#"*+'&";%#"<%*:0'3')*D=%40M$)5%"+'.*;"p"+'!$)e#)U#0*'ABBH+';-AO`
BE#PE6E:E#X#OO
"D=)<<0'D=)'50')*'5%'<0'=50'5%'<0'0#$0+'*%50'<0'D=)'&0$$)')5#$)'":E0*+'&05M0$:"580'=5'E<0D=)'
8)'8)7)5%$-'
,058)',)<)=4)'I"E<"'8)'<0*'E<0D=)*'8)'8)7)5%$+'!)#)$'f<0#)$8%]\'I"E<"'8)'<"'*050*M)$"1')<'
"&&)*0'8)'=50*'%58%7%8=0*'"'0#$0*'3'<"'=5%L5')5#$)'%58%7%8=0*'"'#$"7_*'8)'<"'*050*M)$"'
;*%&0"&o*#%&"-'.:;)4"580'&05')<'7G5&=<0'8)<'M)#0'&05'*=':"8$)+'D=)')*#"E<)&)'<"'=5%L5'
;$%:)$"1'r+s+1$"!6*+&"+'.C"%"0"6"+A"C&"+A"15"+6'!#%*+'!#%"+'!+&"+'(1'!"+*%5L5!"%5"+6'+&"+
&5C%'+1*.$!58!+1*!+'&+*#%*+O!#5.*N+r+s+9*+-$'+'!+'&+&'!L$"3'+6'+#%"6515*!'(+5!.'.*%5"&'(+
&&".".*(+"&."+'(K+'!+($+!c1&'*+.?(+('!(5C&'K+$!+(5(#'."+6'+%'(*!"!15"+-$'+('+'3'%15#"+'!+
&"+1*.$!51"158!+"$65*I*1"&+6'+&"+'(4'%"+/%'!"#"&+."6%'MA53*N
.*#"'=5%L5'F)5)$"'<"'8%*;0*%&%L5'"'*)$'"M)&#"80*';0$')<'0G80')5')<')5#0$50'8)<'&05]=5#0'0'
:"5"8"1'H$!-$'+&*(+&'!L$"3'(+!"#$%"&'(+('+A$C5'%"!+6'("%%*&&"6*+1*.*+(5(#'."(+6'+
(*!56*(+"%#51$&"6*(+(5!+/%'#'!(58!+"&L$!"+6'+%'4'%'!15"+;+(5L!5451"6*+M"(O+/$'(+(5+(8&*+
'd5(#5'%"!+(*15'6"6'(+1*%"&'(+;+!*+1*.$!56"6'(+6'+#%"C"3*MK+&*(+('%'(+A$."!*(K+'!+#*6*(+
&*(+%'(/'1#*(+4$!6".'!#"&'(K+('%O"!+&*(+.5(.*(+-$'+(*!+"A*%"K+/%'(15!65'!6*+6'+"$#5(.*(+
6'+#%"C"3"6*%N+2!+&"+1"("+(5!+/"%'6'(+6'+&*(+#*!*(K+&*(+('%'(+A$."!*(+('+A"!+1*!I'%#56*+'!+
"!5."&'(+-$'+('+'(1$1A"!+3$!#*(N+F'"!+&*+-$'+('"!+/*%+&*+6'.?(K+(*!+1*.$!"%6*(+
(*!*(4,%51*(NNNN
F5+$!+1865L*+('+453"C"+*+!*+'(+/*%-$'+'&+5!65I56$*+1*65451"6*+4*%."C"+/"%#'+6'+$!"+
/*C&"158!K+V&"+-$'+A"C5#"+$!+#$C*+6'+'!(";*K+$!+1A"%1*+6'+"L$"+*+$!+5!#'(#5!*+6'+
.".O4'%*N^^k
lh$,+('%O"+$!+&*C*+1*./&'#".'!#'+(*&*]+l;+$!"+C"&&'!"K+$!+/5*3*K+$!+%"#8!K+$!"+.*(1"]^^Y+
r2'=5'I=:"50s
NNN fKZV.c,a@[+'!)#)$-'2(4'%"(+T+'>"8$%8'f%$=)<"'ABBS-';-OHP'
NNA ,.K.6h.'3'W6/VV/ca+'>%<':)*)#"*+'&";%#"<%*:0'3')*D=%40M$)5%"+'.*;"p"+'!$)e#)U#0*'ABBH+'N-'a5#$08=&&%L51'
c%40:"
NNS ,.K.6h.'3'W6/VV/ca+'>%<':)*)#"*+'&";%#"<%*:0'3')*D=%40M$)5%"+'.*;"p"+'!$)e#)U#0*'ABBH+'NB-'NJSB'e'
,)7)5%$e%5#)5*0+'8)7)5%$e"5%:"<+'8)7)5%$e%:;)$&);#%E<)-
O[#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
5'NM!%!,#+!#'$%$+$#0#+!#$%F'$"
H&+&"6*+6'+&*(+.*6'&*(+6'+&"+('%5'+;+6'&+("1%54515*K+'&+6'+&"+'(#%$1#$%"+;+'&+6'+
&"+5!(#5#$158!+#*#,.51"K+1"C'+#*6"IO"+"&L*+654'%'!#'K+.?(+('1%'#*K+.?(+
($C#'%%?!'*J+'&+C%$3*+;+&*(+6'I'!5%'(+-$'+('+'d/%'("!+'!+&*(+1$'!#*(K+;+!*+
;"+'!+&*(+%5#*(+*+'!+&*(+.5#*(N
9*(+C%$3*(+(5'./%'+A"!+*1$/"6*+&"+/*(5158!+"!*."&+'!+'&+C*%6'+6'&+
/$'C&*K+*+'!#%'+6*(+/$'C&*(^^a
EY&M$&"#B$%!-'D56"(+-$5'#"(+E+)"#$%"&'0"(+.$'%#"(
B"C%?+C*%6'+6'+."!"6"K+;+/*(5158!+"!*."&K+1"6"+I'0+-$'K+'!+$!+'(/"15*+$!+"!5."&+('+
'!1$'!#%'+'!+&"+&O!'"K+*+#%"0"!6*+&"+&O!'"+1*!+%'&"158!+"+&"+1$"&+'&+%'(#*+6'+&*(+.5'.C%*(+6'+
&"+."!"6"+'(#?!+"+$!"+.5#"6+50-$5'%6"+*+6'%'1A"J+/*(5158!+/'%54,%51"K+-$'+A"1'+-$'+;"+!*+
/*6".*(+("C'%+(5+'&+"!*."&+'(#?+#*6"IO"+'!+&"+C"!6"K+;"+'(#?+4$'%"+6'+'&&"+*+'!+($+
1".C5"!#'+4%*!#'%"N+r+s+2!+1$"&-$5'%+1"(*+!*+A";+C"!6"+(5!+'(#'+4'!8.'!*+6'+C*%6'+*+
"!*."&N+^^u
/E%F"%<'K"5)-'F#5&&+&5I'(^^tX+(A'+656!x#+!''6+A'%+';'(+*/'!+5!+*%6'%+#*+(''K^^`+NCCJ
NNO ,.K.6h.'3'W6/VV/ca+'>%<':)*)#"*+'&";%#"<%*:0'3')*D=%40M$)5%"+'.*;"p"+'!$)e#)U#0*'ABBH+'NB-'NJSB'e'
,)7)5%$e%5#)5*0+'8)7)5%$e"5%:"<+'8)7)5%$e%:;)$&);#%E<)NN` ,.K.6h.'3'W6/VV/ca+'>%<':)*)#"*+'&";%#"<%*:0'3')*D=%40M$)5%"+'.*;"p"+'!$)e#)U#0*'ABBH+'NB-'NJSB'e'
,)7)5%$e%5#)5*0+'8)7)5%$e"5%:"<+'8)7)5%$e%:;)$&);#%E<)-';-A`N
NNH D56"(+h$5'#"(+E+)"#$%"&'0"(+@$'%#"(+y#$"8=&&%L5'8)'<"'"=#0$"z
F#5&&+95I'')*'&0:0'*)'8)*%F5"')<'&05&);#0'8)')"#$%"&'0"+.$'%#"'8)'<"*'?)<<"*'/$#)*+'
''&05#%5o"')5';^F-'JC
BE#PE6E:E#X#OU
.<'"5%:"<'D=)')5&05#$":0*')5'<"*'M0#0F$"MG"*'8)'/E%F"%<'K"5)';"$)&)'8"$'M0$:"'"<'&05&);#0'
8)'E0$8)'D=)',)<)=4)'3'W="##"$%'I"5';)$*05%M%&"80')5'<"'M%F=$"'8)<'"50:"<N'2&+"!*."&+!*+'(+
!5+5!65I56$*+!5+'(/'15'K+(8&*+1*!#5'!'+"4'1#*(N
.5'FA'+656!x#+!''6+A'%+';'(+*/'!+5!+*%6'%+#*+(''+P)*+!'1'(5#"C"+#'!'%+($(+*3*(+"C5'%#*(+
/"%"+/*6'%+I'%+Q+')<'F)*#0'8)<'"5%:"<')*':=3'"&#%70+'&0:0'*%'<)'I=E%)$"5'<<":"80+'&0:0'*%'
I=E%)$"'<<)F"80'"')*#)'<=F"$'&057)5&%80'8)'I"&)$'"<F0+'3'"5#)'<"'*%#="&%L5'D=)')5&=)5#$"+'50'
;=8%)$"'<<)7"$<0'"'&"E0-',)5#$0'=5"';)$*05"'&0:;<)#":)5#)'7=<5)$"E<)g')*'=5"':=])$+'
";"$)5#):)5#)'":"'8)'&"*"+'8)*:"3"8"'0':=)$#"')5')<'*=)<0'8)'*='&0&%5"-'c)%5"':=&I0'
*%<)5&%0'3'D=%)#=8')5'<"')*&)5"+'*%5'):E"$F0';"$)&)'8)*)570<7)$*)')5')<<"'=5"')U#$"p"')'
%5#)5*"'"&#%7%8"8':)5#"<';0$';"$#)'8)<'"5%:"<K"*'M%F=$"*')5'<"*'%:^F)5)*'8)'/E%F"%<'K"5)+'3')<'<=F"$')5')<'D=)'*)'8)*)57=)<7)5+'
&05M%F=$"5'8%M)$)5#)*')*;"&%0*g')5'#0$50'"'=5'=:E$"<'*)'"$#%&=<"')<')*;"&%0'8)<'"5%:"<'3')<'8)'
<"';)$*05"-'(=)$"'=5'"5%:"<'D=)':%$"'I"&%"'8)5#$0+'8)5#$0'=5"';)$*05"';)$8%8"')5'*='
:=580-'
K0*'80*')*;"&%0*+'8)5#$0'3'M=)$"+'*05':=3'&0:;"&#0*+')<')*;"&%0'&"$"&#)$G*#%&0'8)<'8%0$":"-'
65'8%0$":"+'"<'D=)'*)'<)'I"'"p"8%80')<')<):)5#0'D=)'*%):;$)'M"<#L1')<'I0:E$)'E<"5&0-'.5#$)'
_*#)'3')<'"5%:"<+'=5'=:E$"<+'<"';=)$#"-',0*')*;"&%0*'"&0#"80*+'D=)'F)5)$"5')<'#)$&)$0+')<'D=)'
&0:%)54"')5')<':%*:0';<"50'8)'$);$)*)5#"&%L5'e<"'M0#0F$"MG"e'3'&05#%)5)'"'<"';)$*05"'
e)*;)&#"80$e'D=)'<"')*#^':%$"580f)')*#"E<)&)'=5'7G5&=<0'F)0:_#$%&0')5#$)')<'"5%:"<'8)<'M0580'D=)':%$"')5'8%$)&&%L5'"<'D=)'
:%$"'<"'M0#0F$"MG"'e)<')*;)&#"80$e-'2'":E0*'&05M<=3)5')5')<')*;"&%0'M$05#"<+'D=)'*)'&057%)$#)'
"*G')5')*;"&%0'&)5#$"<-'H!5."&'(K+5!#'%5*%'(+6*.,(#51*(K+('%'(+A$."!*(K+'d5(#'!+'!+$!"+
'(/'15'+6'+&5.C*+'!#%'+&"+I56"+;+&"+.$'%#'K+/%'('!15"+;+"$('!15"K+%'"&56"6+;+"%#54515*N^^o+
.5'=5'8)7)5%$'"5%:"<'D=)'I"'D=)8"80'&05F)<"80';0$')5&05#$"$*)')<'*)$'I=:"50'%58%*;=)*#0'
)5'*='$);$)*)5#"&%L5+'I"3'=5':07%:%)5#0'7%F0$0*0'D=)')<')*;)&#"80$'8)E)'"*=:%$';"$"'
;)$0'<%#)$"<:)5#)'*)'#$"8=&%$G"'&0:0'D56"+-$5'#"
NNJ )*+!'1'(5#"C"+#'!'%+($(+*3*(+"C5'%#*(+/"%"+/*6'%+I'%+y#$"8=&&%L5'8)'<"'"=#0$"z
NNP +9**\5!L+5!#*+HC5L"5&+9"!'++'af?Y'BeCSSP`He`HeS
H!5."&(K+6*.'(#51+5!#'%5*%(K+A$."!+C'5!L(K+'d5(#+5!+"+(*%#+*4+&5.C*+C'#R''!+&54'+"!6+6'"#AK+/%'('!1'+"!6+
"C('!1'K+%'"&5#;+"!6+"%#5451'N
[W#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
F)5)$"$'8)'5=)70')*)'8)7)5%$-',);)58)'8)<'D=)':%$"')<'M0$:"$'"<%"54"'&05')<'"5%:"<+';=)*#0'
D=)'<"';)$*05"'$);$)*)5#"8"'50')*#^')5'8%*;0*%&%L5-'
K"';)$*05"'$);$)*)5#"8"'"D=G')*#^'%58%*;=)*#"+'#"<'&0:0'<"'&05*#$=&&%L5'&=<#=$"<'*)Fo5'<"'
&="<'I):0*'8)*;=5#"80'8)<'$)%50'"5%:"<'M%]"'=5"'$);$)*)5#"&%L5'8)'50*0#$0*':%*:0*'D=)'
50*'%58%*;05)'3'50*'"<)]"'8)'<0*')*;"&%0*'8)'6'I'!5%+&0:;"$#%80*'&05')<'"5%:"<K"*'M0#0F$"MG"*';)$#)5)&)5'"'=5"'*)$%)'E"]0')<'#G#=<0'&0:o5'8)'F#5&&+95I'(N+.5'%5F<_*')*'"*G'
&0:0'*)'8)*%F5"')<'&05&);#0'8)')"#$%"&'0"+.$'%#"'8)'<"*'?)<<"*'/$#)*+';)$0'<%#)$"<:)5#)'*)'
#$"8=&%$G"'&0:0'I56"(+-$5'#"(N
.5')*#"*'M0#0F$"MG"*+'<"'*%#="&%L5'I=:"5"'$);$08=&%8"'#%)5)'=5'&"$^&#)$'8)'7=<5)$"E%<%8"81'
"%*<":%)5#0+'$)M<)U%L5'3'"&&%8)5#)-'K"';$)*)5&%"'0'<"':%$"8"'8)<'"5%:"<')5')<'D=%&%0'8)'<"'
;=)$#"')*'=5"':%$"8"'8)'%5#)$_*'703)=$G*#%&"'8)*8)'"M=)$"'I"&%"'"8)5#$0+'8)<'"5%:"<'"<'
I=:"50A*)/!#6$)'$%>#:"%%$('&'(
?$=&)'Y"=:"5+'*=')*#=8%0'3'*='&^:"$"'8)'7G8)0-'f=*'#$"E"]0*'8)'7G8)0')5'D=)'80&=:)5#"'
*='"&#%7%8"8'*0<%#"$%"')5')<'#"<<)$+'*=*'Eo*D=)8"*'$)M<)U%7"*'8)<';";)<'8)<'"$#%*#"+'<0*'*058)0*'
8)'*G':%*:0+'F)5)$"5'#080'=5'$)#$"#0'0'&"$"&#)$%4"&%L5'8)<'"!*."&-
?$=&)'Y"=:"5-#B"!L5!L:"%%$('&'(+P•'*%L'+(\5!(+"+Z*dQ^^_+
NCPP
NNC :"%%$('&+1*&L"!#'+P•'*%L'+6'(/'&&'3"+$!+0*%%*Q'y#$"8=&&%L5'8)'<"'"=#0$"z
?$=&)'Y"=:"5-#:"%%$('&'(+NCPP
BE#PE6E:E#X#[4
/'M%5"<)*'8)'<0*'PB'$)"<%4"$^'=5"'*)$%)'8)'#$"E"]0*+'"'$"G4'8)'M%F=$"*'8)'"5%:"<)*'#"U%8_$:%&0*'
D=)')5&=)5#$"')5'=5"'#%)58"'8)'&"4"80$)*-'†<'&=)5#"'&L:0')*#)'I)&I0'*)';$08=]0'"'$"G4'8)'
"&0:;"p"$'"'*='7)&%50'W)0$F)'"'&0:;$"$')5'"D=)<<"'#%)58"+'$)M<)U%05"580'*0E$)')<'I)&I0'
8)'$)<"&%05"$*)'&05')<'7)&%58"$%0+'<0'&="<'50'I"&G"'&05'M$)&=)5&%"-'?$=&)'Y"=:"5+')5'*='
"&#%7%8"8'*%<)5&%0*"';"$)&)'&":%5"$';0$')<'E0$8)'8)'<"':"5"8"g')<':%*:0'W)0$F)'#)$:%5"$^'
*%#="80')5')<'&)5#$0'8)'=5"'8)')*#"*';%)4"*f=*'&05*#$=&&%05)*'&05'<0*'"5%:"<)*'#"U%8_$:%&0*'&0:0'&05M%F=$"&%05)*'8)':"5"8"+'
;"$)&)5';$)*)5#"$')<'<)5#0'3';)*"80'$%#="<'"FL5%&0'8)<'I0:E$)'3')<'"5%:"<-'
K0*'"5%:"<)*+')5';"$#)'"$$"*#$"80*';0$')<'*=)<0';0$'=5"')*;)&%)'8)'&"$$=*)<+')5';"$#)'
8)*&="$#%4"80*'F%$"580')5')<'"%$)')5'=5"'&05*#$=&&%L5';$)&"$%"'8)'I%)$$0*'3'"<":E$)*+'
#)58)$)#)'8)'0E$"+')*#$=&#=$"':L7%<'&05'"$0:"'"'M)$%"+'$)"<%4"5'=5'*%5%)*#$0'E"%<)'8)'
"5%:"<)*-'
.<'&":%50'"<':"#"8)$0-'.<'&":%50'8)'%8"+'0'8)'7=)<#"-'2"'M=)$05'3'3"'7=)<7)5+'$)&0:;=)*#0*'
)5'=5"'"5"#0:G"'%:;0*%E<)+'<%*#"';"$"'F)5)$"$'<"'%:"F)5'#"U%8_$:%&"'8)'*='0E])#%7%8"8+'<"'
D=)'50*';)$:%#%$^'"$#%&=<"$50*']=5#0*')5'5=)*#$0';$0;%0'8%0$":"'3'8)*"$$0<<"$'<"'&057%7)5&%"+'
=5"'&057%7)5&%"'#0#"<:)5#)'=#%<%#"$%".5':"%%$('&K+=5':)&"5%*:0'&)5#$"<'*%:%<"$'"'=5"';)D=)p"'50$%"'*=])#"'3'I"&)'F%$"$'"'<0*'
"5%:"<)*-'f=*'&=)$;0*'*05'M"$80*'&0<F"80*-'K"'50$%"'<0*'"$$"*#$"'3'#$"4"'=5"'F)0:)#$G"'
;0E<"8"'8)';%)4"*'D=)';$)*)5#"5'<"'&"$5)'"5%:"<+'<0'0$F^5%&0'3'*=&%0'8)'=5"'7%8"'
8)*;)8"4"8"g')<':05L#050'<":)5#0'8)'<"':"5"8"')5')<'&I%$$%"$'8)'<0*'&=)$;0*'&05#$"')<'
*=)<0+'0'%5&<=*0'&05#$"'<"';"$)8')5'"<F=5"'8)'<"*'*"<"*')5'D=)'*)'I"':05#"80K"'E)<<)4"'D=)'I"3')5'<"';%)4"+'<"'"E*#$"&&%L5'8)<'8%E=]0'D=)'*)'F)5)$"')5')<'*=)<0'e=5'
&G$&=<0'&0:0'8%E=]"80')5'F$"M%#0e+'"&0:;"p"80'8)<'<":)5#0+'"<'$04"$')<';<0:0'8)'<0*'&=)$;0*'
&05#$"'_<+'I"&)';)5*"$')5'<"'M0$:"'&05#$"8%&#0$%"')5'D=)+')5'5=)*#$"'&=<#=$"+')5'50*0#$0*+'
&057%7)5'#"5#"*'8)'5=)*#$"*'):0&%05)*'3'"&#%7%8"8)*.*#"*'&05*#$=&&%05)*'&%$&=<"$)*'"$#%&=<"5'=5"';)$%M)$%"+';0$'<"'D=)'7":0*'"'8)*;<"4"$50*'
50*0#$0*+'<0*'D=)':%$):0*'<"';%)4"+'&057%$#%_58050*'8)')*#)':080')5')<'"!*."&K')<'
M)5L:)50'8)'E0$8)+')<'D=)';=)8)')5#$"$'3'*"<%$+';$0#)F)$'8)'<"*'E)*#%"*'0'&057)$#%$*)')5'=5"'
8)')<<"*+'<"'E%*"F$"'D=)'"$#%&=<"'=5'!*(*#%*(M'&&*('&":E%"5#)-
[@#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
7*L+C5##5!L+5#(+"((K+S$##+#*+C$##K+B"!L5!L+1"#K+Z*$%+(."&&+"!5."&(+P>'%%*+.*%65,!6*('+'&+1$&*K+
=%"('%*+1*!#%"+#%"('%*K+•"#*+1*&L"!#'K+1$"#%*+/'-$'b*(+"!5."&'(QN+
905*#$=&&%05)*'*=*;)58%8"*'8)'=5'"<":E$)')5')<'"%$)+')5'<"*'D=)'<0*'%58%7%8=0*'*)'
8)*"$#%&=<"'3'&057%)$#)')5'=5"'$)&05*#$=&&%L5'8)'*G':%*:0+'8)'*=*';"$#)*'$)&0<0&"8"*+'"'
7)&)*')5'M0$:"'8)'I_<%&)+'&057%$#%)580'"<'"5%:"<'#)$$)*#$)')5'=5"':^D=%5"'"_$)"-'f05'
'(#$65*(+6'+6'("%#51$&"158!K+$!+6'("#5!*+'(1$&#8%51*+6'+.*&6'(K+6'+4*%."(+#"d56,%.51"(N^ke
.5'<"';%)4"'B"!L5!L+:"%*$('&+P•'*%L'+(\5!(+"+4*dQ+E+:"%%$('&+:*&L"!#'+P•'*%L'+6'(/'&&'3"+
$!+0*%%*QMK+)<'"50:"<'I"';"*"80'"<'&)5#$0'8)')*#"'&05M%F=$"&%L5'y8)':"5"8"zg'"I%'*)'
)5&=)5#$"'W)0$F)+')<'&"4"80$+'8)*;)<<)]"580'"<'"5%:"<-'65'"=8%0'$);$08=&)')<'*05%80'8)'*='
"&#%7%8"8g'"<$)8)80$+'<0*'&=)$;0'%5)$#)*+'&0:0'M"$80*'8)'<"':"5"8"+'*=*'$)*#0*-'f=*'&=)$;0*'
*05'M"$80*'"I0$&"80*+'3'8)5#$0')<':05%#0$'D=)':=)*#$"'"'W)0$F)g'5%'*%D=%)$"'*)')5&=)5#$"'
W)0$F)+'*%50'"<':080'8)<'•%"!+B'%."!*'8)'W)0$F)'Z$k)<<+'=5':05%#0$'D=)'%5*#"<"'*='
;$)*)5&%"')5')<':%*:0'&)5#$0-'Y0')*')<'I0:E$)+')*'*='#)&50<0FG"-'2'50')*'&="<D=%)$'
#)&50<0FG"+'*%50'"D=)<<"'D=)'0;)$"')5'8)7)5%$'&05'<"*'058"*+'"D=)<<"'D=)';)$:%#)'<"'
7%*="<%4"&%L5'8)'=5"')*&)5"'M0$:"8"')5'0#$0')*;"&%0'3'#%):;0-'65"')*&)5"'#080;08)$0*"+'
&";"4'8)'"$#%&=<"$'=5'&":;0'8)':=)$#)')5'#0$50-'.<'I0:E$)'*)'*%#o"')5')<'&)5#$0'8)'=5'
&":;0'8)':=)$#)+'&)5#$0'3'8)5#$0'8)'<"':"5"8"':=)$#"-
NAB fVZcc'c0E)$#+'>"%#5"&+=%$#A(K')5')'*!(K+F1$&/#$%'(K+7%"R5!L(+'7"5'8)$'b)FI)'(%5)'/$#+'Y3'ABBA
vw'"'*&=<;#=$"<':%*:"#&I%5F'0M'&"*#*'0M'#"U%8)$:%&'M0$:*-'VI)3'"$)'*#=8%)*'%5'8%*"$#%&=<"#%05-
BE#PE6E:E#X#[J
P&/Z$!"#`FFN+F'!#56*+G'.*#*+E+B,&51'+H&4"
>%&I")<'@00+'G'.*#'+F'!('+PH&/A"+B'&5dQ^k^+'ABB`
K"'&)E$"+'8)*0<<"8"'&0:0'<0*'"5%:"<)*'8)'?$=&)'Y"=:"5+'&05'*=';%)<'&057)$#%8"')5'
)*#$=&#=$"'*=])#"5#)'8)]"'7)$')<'%5#)$%0$'&0:;=)*#0'8)':o*&=<0'3'#)5805)*-'K"';%)<'*)'I"'
&057)$#%80')5'"$:"8=$"-'K"';%)<'D=)';$0#)F)'"I0$"'8)]"'"'<"'7%*#"'<"'%5#)$%0$%8"8'8)')*)'
&=)$;0-'!08):0*'%:"F%5"$'<0*')*#$"#0*'"o5':^*';$0M=580*+'8058)'L$F"50*'&05)&#"80*'"'=5'
:%*:0'M<=]0+';)$0'%58);)58%)5#)*')5#$)'*G+'&05M0$:"5'8)':"5)$"'*%:E%L#%&"')*)'&=)$;0.*#)')U#$"p0'*=])#0+'D=)'70<7%)580'*='&"E)4"'I"&%"'<"'%4D=%)$8"'50*'0E*)$7"'&05')<'0]0'
e";"$)5#):)5#)'I=)&0e+'3'D=)'8)*;$0#)F%80'3'*%5';%)<':=)*#$"'"'<"'7)4'*='"50-'.<'0]0'3'*='
NAN F'!#56*+G'.*#*+PB,&51'+H&4"Q+y#$"8=&&%L5'8)'<"'"=#0$"z
[I#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
:%$"8"+'#"5':%*#)$%0*0')5'#08"*'<"*')*;)&%)*+'3')<'"50';0$')<'D=)'<0*'"5%:"<)*'*%F5%M%&"5')<'
#)$$%#0$%0+':"$&^580<0'&05'*=*'0$%5)*'3'I)&)*+')5'=5'<)5F="])'&0:;"$#%80';0$')<<0*+'D=)'
50*0#$0*'I):0*'8)*"#)58%80K"'&)E$"'*%#="8"')5')<'=:E$"<')5#$)'80*'*"<"*+';"$)&)'8"$<)'<"')*;"<8"'"'<"':"5"8"+'3'
8%$%F%)580'<"':%$"8"'I"&%"'<"'0#$"'*"<"+'&0:0'*%')*#=7%)$"')*;)$"580'<"'<<)F"8"'8)'=5'
7%*%#"5#)+'"$#%&=<"')<'"&&)*0'"'<"':"5"8"+'3'&05*#%#=3)')<'M)5L:)50'8)'E0$8)'0'"50:"</<'#0:"$'=5"';$)*)5&%"'#"5'*L<%8"+'#"5'$GF%8"+'#"5'"M)$$"8"+'<"';%)<'"&#o"'&0:0'*=;)$M%&%)'8)'
&":E%0-'Y0';08):0*'8)*<%4"$'5=)*#$"':%$"8"';0$'<"'&)E$"'*%5'*)5#%$'<"'*0<%8)4'8)')*"'
:):E$"5"'D=)+'&057)$#%8"')5';<^*#%&0+'$)&=E$)'"'<"'&)E$"-'K0*'&0<0$)*+')<'$0]0'%5#)$%0$'3')<'
E<"5&0'8)'*='"$:"4L5+'&057%)$#)5'"'<"'&)E$"')5'=5'"$#G&=<0'*0M%*#%&"80+'<)'8"5'=5'"%$)'8)'
0E])#0'8)';<^*#%&0+'0'8)'&I"$0<-'@00'I"E<"'8)'*='%5#)$_*')5'<"'M0$:"')5'D=)'<0*':)8%0*')*#^5'
*=;)$*"#=$"80*'8)'<"';$0;%"'7%*="<%8"8'8)'<"'&%)5&%"+'<"'M0$:"')5'D=)')*#"'*)'&057%)$#)')5'
<0F0#%;0*'3':"$&"*-'f%5'8=8"+')*#"'&)E$"')*'"#$"&#%7"'*)Fo5'<0*'7"<0$)*'8)':)$&"80K"'%5*#"<"&%L5'&05*#"'8)'&"$%Eo*'#"U%8_$:%&0*'"')*&"<"'5"#=$"<'D=)'8)*&%)58)5'"'<0'<"$F0'8)'
=5"')*;%$"<'D=)'"#$"7%)*"'=5"'I"E%#"&%L5'8)'&%)<0'"'*=)<0g')<'o<#%:0'&"$%Eo+'&)$&"50'"<'*=)<0+'
"#$"7%)*"'=5"';"$)8'I"&%"'<"'I"E%#"&%L5'&05#%F="'3'8)*8)'_*#"'=5'o<#%:0'"5%:"<'&05#%5o"')<'
8)*&)5*0'"'<"';<"5#"'8)'"E"]0-'.5')*#"'o<#%:"';<"5#"+'<"')*;%$"<'&05#%5o"'&05'#)<)7%*0$)*'D=)'
):%#)5'<"*'%:^F)5)*'D=)'&^:"$"*'8)'7%F%<"5&%"'*%#="8"*')5')<')*#L:"F0'8)'<0*'"5%:"<)*'
#0:"5'8)'<"*'*"<"*'3'*=*'7%*%#"5#)*g'<0*'"5%:"<)*'8%F%)$)5'"<')*;)&#"80$')5'*=*')*#L:"F0*g'
8)')*#"':"5)$"+'=5"';=5#="<%4"&%L5'"<'*)$'I=:"50'8)'D=)'"+/'("%+6'+'(#"%+'!+&"+15."+6'+&"+
1"6'!"+#%8451"K+!*+'(+'!+6'45!5#5I"+.?(+-$'+/"%#'+6'+$!+5!.'!(*+(5(#'."+6'+15%1$&"158!-'.*#)'
;$%5&%;%0'8)'<"'5"#=$"<)4"')U%*#)')5#$)'3'"'#$"7_*'8)'50*0#$0*'&0:0'"%$)+'%5&<=*0')5'<0*'
#%):;0*')5'D=)'50'*0:0*'&05*&%)5#)*'8)')<<0.<'"5%:"<'#"U%8_$:%&0')5')<'#$"E"]0'8)'@00'M=5&%05"'&0:0')5<"&)')5')<')*D=):"'8)'
&%$&=<"&%L5@00';"$)&)'D=)$)$')5M"#%4"$'D=)'#080*'<0*'8%*&=$*0*+'3"'*)"5')*#0*'&%)5#GM%&0*+'<%5FXG*#%&0*+'
M)50:)50<LF%&0*+';0_#%&0*'0'$)<%F%0*0*g'*05'"<':%*:0'#%):;0'3';0$'%F="<+'"&#0*'8)'
&050&%:%)5#0'3'8)'M)-'/M%$:"'D=)'&="5#0':^*'*0M%*#%&"8"')*'<"'"$#%&=<"&%L5')5#$)'<"*'
8%M)$)5#)*'&="<%8"8)*+':^*'*)')*&058)5':%)80*'%5&05*&%)5#)*')5')<'8%*&=$*0-
BE#PE6E:E#X#[S
K0*'"5%:"<)*')5'@00'*05';=)5#)*')5#$)'I%*#0$%"*'3'&=<#=$"*-'.*#"E<)&)5'<"'$)<"&%L5')5#$)')<'
:=580'5"#=$"<'3')<':=580'&05*#$=G80';0$')<'I=:"50+'&0:0':)#^M0$"'8)'<"'$)<"&%L5'8)<'
;$0;%0')*;)&#"80$'&05')<'"$#)-NAA'
:$'&!%#Q&*,-N+9'3*(+6'+&"+@"!"6"
,":%)5'Q%$*#+'HR";+4%*.+#A'+Z&*1\K^kY+NCCO
K"'07)]"'*)'I"'*);"$"80'8)<'$)E"p0';"$"'$)"<%4"$'=5'C&*-$'+6'+6'I'!5%'&05')<'I0:E$)-'.<'
)U#$"p0'E<0D=)'8)'8)7)5%$+';0$')<'D=)'5=)*#$"')*)5&%"';$)8"80$"'#0:"'M0$:"#0'&%)5#GM%&0+'
*%$7%_580*)'8)'*=])#0*'&05&$)#0*'D=)+'"'*='7)4+')<%F)5')<'^:E%#0'I0:G5%80';"$"'$)"<%4"$'*='
;$0;%0'8)7)5%$-'
K"'07)]"'&05*)$7"8"')5'M0$:0<')5'=5"'7%#$%5"'&05')<'"%$)'8)':=*)0'8)'&%)5&%"*'5"#=$"<)*+'
E<"5&"'3'5)F$"-'.<<"'3'<0*'*=30*'I"5'8)&%8%80'"=5"$'*='8)*#%50'"<'8)<'I0:E$)-'f=*'E"58"*'
)$%F)5'"'_*#)'&0:0'F=G"'3'8)]"5'D=)'&05*#$=3"'*=*'%5M$")*#$=&#=$"*-'65"'07)]"'"'<"'7)4'
E<"5&"'3'5)F$"+'&="580'&0:0')U#$"p0'"50:"<'&%)$$"')<';"&#0'&05'<0*'I0:E$)*+'
r&058)5"580+'*)5#)5&%"580'"'*='$)E"p0s'r;$0;0$&%05^580<)'=5"'7%8"':^*'&05M0$#"E<)'E"]0'
#)&I0sg'50+'*%)580'E%*"F$"')5'<"'M0$:"&%L5'8)'E<0D=)')5#$)'$)E"p0*-
NAA >a9Q/.K'@00+'@51A"'&+w**+o`+E+e`-'K05805+'Z#I)$'9$%#)$%"'ABBJ
NAS 9'3*(+6'+&"+."!"6"'y#$"8=&&%L5'8)'<"'"=#0$"z
[?#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
.*#"'07)]"+'&'3*(+6'+&"+."!"6"+'&0:0'=5"'$)%5"')5'*='"#"o8'8)'M0$:0<+';"$)&)'%5#)$;)<"$50*'
&05'*=')U#$"p"';0*#=$"'3')U#$"p"':%$"8"-',0*'"p0*':^*'#"$8)+')5'NCCH+',0<<3')5#$"$^')5'<"*'
&05&%)5&%"*'8)'<"*';)$*05"*'&0:0';$%:)$'"5%:"<'&<05"80')U%#0*":)5#)+',0<<3+'=5"'07)]"'
)U#$"G8"+6'&+%'C"b*+;"$"+']=5#0'"<'I0:E$)+'&05M0$:"$'5=)*#$0'&0:o5'6'I'!5%M.*&'1$&"%N+
.*#0*'$)E"p0*'&05'*='"50:"<+')*#^5'%5#)F$"80*'"'*='7)4')5'0#$0*':"30$)*+'&05M0$:"80*';0$'
:=&I0*'"50:"<)*'&05'*=*'$)*;)&#%7"*':"5"8"*-'K"'/5%?.56'+"!5."&-'9"8"'5=)70')*#$"#0'
)*#^'M0$:"80';0$'F$=;0*':^*':%50$%#"$%0*g'H!5."&+>;%".56+'=5"';%$^:%8)')5')U#$"p0'
)D=%<%E$%0+')5'<"'D=)'<0*'"5%:"<)*'#"U%8_$:%&0*'8)*;$07%*#0*'8)'0$)]"*+'$"E0+';)4=p"*+'*)'
0$8)5"5'8)':^*'F$"58)*'"':^*';)D=)p0*+'&0$05"580'=5"')*;)&%)'8)'<)&I05)*'E0&"'"E"]0!$0F$)*"580')5')*"'&05M%F=$"&%L5'<LF%&"';%$":%8"<+'rI"*#"'<<)F"$'"'<"'&_<=<"'D=)'80*'"p0*'
:^*'#"$8)'*)$G"'&";"4'8)':05#"$'<"')*#$=&#=$"':%&$0*&L;%&"'8)'<"'07)]"',0<<3s-
?$=&)'Y"=:"5-+H!5."&+>;%".56K^ka+^_o_
K"'&%)5&%"')U%F)'8)'<0*'"5%:"<)*'*=':=)$#)-+:$56,.*!*(+6'+6'15%+-$'+&"+.$'%#'+'(#?+
'!4%'!#"6"+"+&"+I56"N+2&+I5I*+'(+(8&*+$!"+'(/'15'+6'+.$'%#*K+;+$!"+'(/'15'+.$;+%"%"-NA`
NAO >5%?.56'+H!5."&+y#$"8=&&%L5'8)'<"'"=#0$"z
NA` Ya.Vhf9Q.+'($%)8)$%&I-'9"+L";"+15'!15"K+‚^e_')5'fKZV.c,a@[+'!)#)$-'2(4'%"(+a+';-'AS`'
BE#PE6E:E#X#[O
.5'$)"<%8"8+')5'=5':%*:0':0:)5#0'8)'<"'I%*#0$%"'*)'8"'<"':=)$#)'F<0E"<'8)<'"5%:"<1'9"+
4$'%0"+6'+#%"C"3*+6'+&*(+"!5."&'(+-$'+('+1*!(#%$O"+;+"('!#"C"+(*C%'+&"+"&5.'!#"158!K+-$'+"+
($+I'0+"('!#"C"+'!+'&+151&*+6'+'!'%LO"+(*&"%K+/$6*+('%+($(#5#$56"+/*%+&"+'!'%LO"+48(5&K+
"/"%'!#'.'!#'+5&5.5#"6"J+1"%C8!K+/'#%8&'*K+1"%C$%"!#'(+6'+#*6*+#5/*N+2!+15'%#*+.*6*+('+
/$'6'+"45%."%+-$'+'&+#%"C"3*+6'+&*(+"!5."&'(+*+/'%(*!"(+I5I"(+4$'+%''./&"0"6*+/*%+'&+6'+
"!5."&'(+;+/&"!#"(+-$'+'(#$I5'%*!+I5I*(N+9*(+"!5."&'(+.$'%#*(+I'!1'!+"+&*(+"!5."&'(+I5I*(N+
H&+.5(.*+#5'./*+'&+"!5."&+('+%'6'(1$C%O"+1*.*+/%*;'1#*+1$&#$%"&K+1*.*+#*/*(+4"!#?(#51*(N+H+
&"+A5(#*%5"+6'+&"+6'("/"%5158!+6'&+"!5."&+1*%%'(/*!6'+($+'.'%L'!15"+'!+&"+/$C&5156"6K+&"+
'(#,#51"K+&"+&5#'%"#$%"+;+45&*(*4O"K+'!+'&+.*I5.5'!#*+6'+/%*#'1158!+6'+"!5."&'(K+'!+0**(+;+
#5'!6"(+6'+3$L$'#'(N^kt
B$#M*$%#,3%-!,&,NAJ
K"';0<"$%4"&%L5')5#$)'<0*'8)#)$:%5%*#"*'F)5_#%&0*'3'<0*'8)#)$:%5%*#"*'&=<#=$"<)*'yj.R'&#+E+
@5&5'$Q+P.'65*+".C5'!#'+M+.'65*z';)$:"5)&%L'"'<0'<"$F0'8)<'*-{{-'f%F=)'I"E%)580'=5'
$)&I"40':=#=0'"'<0*'"5^<%*%*'8)*8)'<"*';$0;%"*':)#080<0FG"*'8)'8%*&%;<%5"*'8%M)$)5#)*'e"'<0*'
&%)5#GM%&0*'50'<)*'%5#)$)*"')<'"$#)+'"'<0*'8)'<"'&=<#=$"'50'<)*'%5#)$)*"'<"'&%)5&%"e-'fL<0'"D=)<'
D=)')*#^'%5#)$)*"80')5'&=)*#%05)*'&0:=5)*')5#$)'"$#)'3'&=<#=$"'E=*&"$^'<"'*G5#)*%*-'!"$)&)'
&05&<=%$')<'"=#0$'D=)'<0'D=)'$)"<:)5#)';<"5#)"'<"*':%*:"*'&=)*#%05)*'3'5)&)*%8"8)*'*05'<"*'
&0<)&&%05)*+'3'"D=)<'D=)'*)'0&=;"'8)')<<"*+')<'D=)'7)$8"8)$":)5#)'#%)5)'D=)'80:%5"$')<'
;$0E<):"'8)'=#L;%&"'F$"5'*G5#)*%*K0*'&05&);#0*'D=)'*)':"5)]"5'"'<"'I0$"'8)')*#"E<)&)$'<"';$)*)5&%"'8)'<0*';$);"$"80*'8)'
"5%:"<)*')5'M0$:0<+'8)E)5'=E%&"$*)')5')<'#)$$)50'M$05#)$%40')5#$)'5"#=$"<)4"'3'"$#)+'#0:"580'
*='70&"E=<"$%0'8)'<"'400<0FG"'3'E%0<0FG"-'.5'<0*'o<#%:0*'"p0*'*)'"F=8%4"'<"'8%*&=*%L5'8)'
&=^580'<0'"$#%M%&%"<'8)7%)5)')5'5"#=$"<+'"';"$#%$'8)'D=_';=5#0')*'<"'%5#)<%F)5&%"'"$#%M%&%"<'%F="<'"'
<"'I=:"5"+'3')5'D=_';=5#0'&")5'<0*'#"Eo*'8)'<"'7%8"'8%*)p"8"'F)5_#%&":)5#)-'905'<0*'
<"E0$"#0$%0*'3'<"*'&0<)&&%05)*'8)',":%)5'Q%$*#g'";"$)&)5'<0*'"5%:"<)*'&05*)$7"80*')5'
M0$:0<+'*)&&%05"80*+'0'*)"':=)$#0*-
NAH >/9QZ+'VI0:"*-'7'%+H$4(#"!6+6'%+B$"(#5'%'+')5'B'%"$(4*%6'%$!L+=5'%N+D*!+S'$;(+S5(+m"C"\*IN'>X5&I)5+'
K05805+'Y)k'20$\+'!$)*#)<'R)$<"F+'ABBB-';-'CA
NAJ h/6Yf9Qac>+'VI0:"*-'T.+<**+6'%+m$!(#+T+')5'[6YfV(Zc6>+'E8-'NJO'&";-'aR
!"$"')<'#):"'8)'<"'F$"5'*G5#)*%*')5#$)'&=<#=$"'3'5"#=$"'7)$'tf0&%0E%0<0FG"u';=E<%&"80')5'NCJ`';0$'.8k"$8'Z-'
b%<*05'3'<"'$)M<)U%L5'8)'($"54'>-'b=\)#%#*'8)'NCCB-
[[#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
tf%'*)')<%:%5"')<'*)5#%:%)5#0'8)'<0*':=*)0*'8)'"$#)':08)$50+'*)'"&"E"')5')<':=*)0'8)'
&%)5&%"*'5"#=$"<)*u+'8%&)'Q%$*#-'V":E%_5'"<'*)&&%05"$'"'<0*'"5%:"<)*+')*#0*';%)$8)5'<"'
&";"&%8"8'8)'):0&%05"$-'Q%$*#'*)'*%$7)'8)'<"'M$G"'";"$%)5&%"'8)<'"5%:"<'&%)5#GM%&0'D=)'50'
F)5)$"'):0&%05)*+';"$"'&05*)F=%$';$)&%*":)5#)'&05:07)$'"<')*;)&#"80$-'.5'*=*'#$"E"]0*'<"'
&="<%8"8'):0&%05"<'*)'8)M%5)')5'<"'M0$:"')5'D=)'<"'F)5#)'&$))')5'<"':)8%&%5"1't'&+
/'!(".5'!#*+1'!#%"&+'(+-$'+&"+L'!#'+A*;+1%''+5!.'65"#".'!#'+'!+&"+.'6515!"+/'%*+!*+'!+'&+
"%#'X+;*+-$5'%*+#%"!(4*%."%+'&+"%#'+'!+.'6515!"NW^ko
P$*b#:&F%>#.<'&%$&0'8)'<"*'&%)5&%"*
>"$\',%05+'@*C5&'+[5&6'%!'((+j!5#M[*&4^k_K+keet
>"$\',%05+'>"%\J+@*C5&'+[5&6'%!'((+j!5#K^Ye+kee^
.<'"5%:"<')5'*='I"E%#"#-'65';)<<%4&0')U#$"G80'8)'<"'#%)$$"+'&0:0'&="580'*)'&0F)'=5'%5*)&#0'
]=5#0'&05'<"'"$)5"'D=)'<)'$08)"+'3'*)'<)':)#)')5'=5'E0#)'8)'&$%*#"<g't)*#)'5%p0'7"';"$"'
&%)5#GM%&0ˆu2')<'5%p0'*)'I%40':"30$')'I%40'8)7)5%$'&05'0#$0'"5%:"<'8)':"5"8"g'<0'"%*<L')5'=5'&=E0+'=5'
)<):)5#0':L7%<+';$0;%0'8)'5=)*#$"'&";"&%8"8'%58=*#$%"<-'65'EoM"<0')5'=5'&"$$0:"#0'0'=5'
40$$0')5')<'$):0<D=)-'9"$$0:"#0*'3'$):0<D=)*+')<'&%$&0'8)'<"*'&%)5&%"*-'.<'"5%:"<')5'*='
8%0$":"-
NAP h/6Yf9Qac>+'VI0:"*-'T.+<**+6'%+m$!(#+T+')5'[6YfV(Zc6>+'E8-'NJO+'&";-'R
NAC j!56"6+.8I5&+/"%"+&*+("&I"3'+E+&*C*+y#$"8=&&%L5'8)'<"'"=#0$"z
NSB >"%-$'J+j!56"6+.8I5&+/"%"+&*+("&I"3'+y#$"8=&&%L5'8)'<"'"=#0$"z
BE#PE6E:E#X#[U
9"+1*!I5I'!15"+'(#%'1A"+1*!+'&+L"!"6*+65*+&$L"%+'!+&"(+(*15'6"6'(+L"!"6'%"(+"+&"+
#%"!(.5(58!+6'+L,%.'!'(+6'+*%5L'!+"!5."&+"&+('%+A$."!*K+;+&"+.";*%+6'!(56"6+6'.*L%?451"+
/'%.5#58+-$'+'(#*(+L,%.'!'(+"6-$5%5'('!+'&+1"%?1#'%+6'+'/56'.5"(N+:*!+'&+#5'./*K+&"(+
(*15'6"6'(+'$%*"(5?#51"(+&&'L"%*!+"+5!.$!50"%('+%'&"#5I".'!#'+"+'(*(+L,%.'!'(N+F5!+
'.C"%L*+&"(+'/56'.5"(+6'+I5%$'&"K+("%"./58!K+#$C'%1$&*(5(K+L%5/'NNN+4$'%*!+$!+4"1#*%+6'15(5I*+
'!+&"+6*.5!"158!+6'+&*(+*1156'!#"&'(+(*C%'+/*C&"15*!'(+!*+'d/$'(#"(+"+'(#*(+L,%.'!'(+
"!#'%5*%.'!#'K+1*.*+&*(+!"#5I*(+".'%51"!*(+"!#'(+6'+^a_kN^Y^
?oM"<0'<)]0*'8)'*='E"58"+'EoM"<0')5'*='8)*;"&I0g'8)*8)'_<'&00$8%5"'<"*'058"*'D=)'8)E)5'
&05)&#"$'"'_*#0*'&05'<0*'I=:"50*-'K"*'058"*'<<":"8"*')#0<0FG"-'.<'"5%:"<'I"'8)]"80'8)'*)$'
"5"#L:%&0+':^D=%5"'&"$#)*%"5"+';"$"'*)$'"5%:"<'8)':"5"8"+'"5%:"<':=<#%;<%&%8"8-',)')*#"'
M0$:"';"*"'<"'&%)5&%"'8)'K%55)0'"'K0$)54+'8)'&<"*%M%&"$'"5"#L:%&":)5#)+'"'&<"*%M%&"$'*)Fo5'
&0*#=:E$)*+'*)Fo5'&=<#=$"+'0'*)"':"5)$"*'8)'*)$':=<#%;<%&%8"8+':"5"8"-'9<"*%M%&"'
&=<#=$"<:)5#)'<"'5"#=$"<)4"')5'E=*&"'8)'<"'8):0*#$"&%L5'8)'D=)'<"'5"#=$"<)4"'50'#%)5)'
&=<#=$"2&+1$C*+.*6'%!*+'(+$!+'3'./&*+6'+&"+!'L"158!+6'&+1*!#%"#*+C5*&8L51*N+2(+'&+".C5'!#'+(5!+
!"#$%"&'0"N^Yk+/<':%*:0'#%):;0'D=)'):;)4^E":0*'"'&05*#$=%$'&"*"e#=E0*'8)')5*"30';"$"'<"*'
:0*&"*+':)#G":0*'5=)*#$"*';$08=&&%05)*';<^*#%&"*')5')<'&=E0'E<"5&0:*.*+"%#5(#"(+#'!'.*(+&"+I'!#"3"+(*C%'+&*(+.,#*6*(+1*!I'!15*!"&'(+/*%-$'+!*+!*(+
5!1&5!".*(+!'1'("%5".'!#'+"+"1'/#"%+&"+!*158!+6'+-$'+'&+65(1$%(*+15'!#O451*+6'C'%O"+'(#"%+
"5(&"6*N+2(#*;+1*!I'!156*+6'+-$'+!$'(#%*+.,#*6*+6'+*%L"!50"%+&"+5!4*%."158!+/$'6'+('%+
.$1A*+.?(+6'("45"!#'N^YY+
.<'"50:"<'"$#%*#"'E=*&"580'<0*'&":%50*'D=)';"*"5')5#$)'<"*'&0*"*+'E0$8)^580<"*+'&$)"580'
E<0D=)*'8)'8)7)5%$-
NSN ,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,+'.*;"p"+')8-',)E"#)'ABBO+'
NSA 905&$)#)'@=5F<)1'/'8%*&=**%05'k%#I'/<)U%*'c0&\:"5'NCCN'%5'@"%\+75*!+'!I"%805-'
=A'+.*6'%!5(#+1$C'+5(+"!+'d"./&'+*4+#A'+6'!5"&+*4+#A'+C5*&*L51"&+1*!#%"1#N+T#+5(+#A'+'!I5%*!.'!#+R5#A*$#+
!"#$%'N
NSS :*!1%'#'+w$!L&'J+H+65(1$((5*!+R5#A+H&'d5(+G*1\."!+^__^+5!+@"%\+75*!K+>A"56*!N
H(+"%#5(#(K+R'+A"I'+"+1'%#"5!+"6I"!#"L'+*I'%+#A'+1*!I'!#5*!"&+.'#A*6(+C'1"$('+R'+"%'+!*#+!'1'(("%5&;+
5!1&5!'6+#*+"11'/#+#A'+!*#5*!+#A"#+(15'!#5451+65(1*$%(+(A*$&6+C'+5(*&"#'6N+Tx.+1*!I5!1'6+#A"#+*$%+.'#A*6+*4+
*%L"!505!L+5!4*%."#5*!+1"!+C'+.$1A+.*%'+1*./'&&5!L+"!6+1A"&&'!L5!LN
UW#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
.5'<"'"&#="<%8"8'*)'7%7)'=5'M)5L:)50')U#$"p0')5')<'D=)'*)'$)&=;)$"5')*#0*':_#080*'
&%)5#GM%&0*'*=;)$"80*')5')<'^:E%#0'8)<'"$#)g'"*%:%*:0'<0*'&%)5#GM%&0*'*05'&"8"'7)4':^*'
&05*&%)5#)*'8)'D=)'*=*':08)<0*'8)'$);$)*)5#"&%L5'8)<':=580'"*%)5#"5'*0E$)'#)0$G"*'
)*#_#%&"*.5'>"$\',%05')<'*%*#):"'=#%<%4"80')*'"5#%F=0+'*%5'):E"$F0')<':=580'&05'_<'8)*&$%#0')*'
"&#="<g'*)'F)5)$"'=5'8)*)D=%<%E$%0'F$0#)*&0'D=)'"<=8)'"<':%*:0'&05&);#0'8)'0$8)5"&%L5-'.5'
)<'*%*#):"')&0<LF%&0'D=)'F)5)$"'&05'*=*'#$"E"]0*+'5"#=$"<)4"'3'&=<#=$"'*05';=)*#0*'"'<"'
:%*:"'<=4+';)$&%E%80*'*%5'8%M)$)5&%"*-'V$"5*<=&)'#"5#0'<"'%5M%5%#"'7"$%)8"8'3'8)5*%8"8'8)'<"'
]=5F<"+'&0:0'<"'8)5*%8"8'&05'<"'D=)'<"*':^*'7"$%"8"*'M0$:"*';=)8)5'*)$'&05&)E%8"*')5'=5'
)*;"&%0'<%:%#"80.<'$)&=)$80'D=)';<"5#)"',%05'8)'<0*'F"E%5)#)*+'8)'"5#%F="*')U;<%&"&%05)*'8)<':=580+'8)'<"*'
;)$*05"<%8"8)*'8)')U;<0$"80$)*')'%57)*#%F"80$)*+')*'=5"')*#_#%&"'50*#^<F%&"'D=)'$0:;)'
%$L5%&":)5#)'3':=)*#$"'8)'M0$:"'"E*=$8"'<"*'8%7)$*"*')U;<%&"&%05)*'8)<':=580'D=)'*05'
7^<%8"*')5'&"8"':0:)5#0'I%*#L$%&0-'K"'0E$"'8)',%05'#$"5*:%#)'<"'%5=#%<%8"8'8)'5=)*#$0*'
)*M=)$40*';"$"'&0:;$)58)$'"<F0'8)'M0$:"')U"&#"-'2!+!$'(#%"(+65(-$5(515*!'(+(*&'.*(+
"#'%%50"%+'!+$!"+$+*#%"+."#%50+6'+*%5'!#"158!+.?(+*+.'!*(+"%C5#%"%5"K+-$'+/"%"+*#%"(+1$&#$%"(+
!*+#5'!'+!5!L$!"+I"&56'0-NSO
dKVa>/'>6@.c'e'dKVa>Zf'QZ>?c.f
K*/G$%&%&#I#Q&""&$'#7$%%,*#I#:3M&
V$=F"5%5%'M=)'<"'o<#%:"':=])$'#"*:"5"-'b%<<%":'K"55)$'M=)')<'o<#%:0'I0:E$)'#"*:"50Q"5')U%*#%80';)$*05"*'D=)'I"5'7%*#0'&L:0'*=';=)E<0'3'*='&=<#=$"'*)')U#%5F=G"5+'&L:0'
;)$8G"5'*=*'#%)$$"*g';)$*05"*'D=)'I"5'*"E%80'D=)')$"5'<0*'o<#%:0*+'D=)'=5"';<"F"'8)'*#%*(+
<)*')*#"E"'D=%#"580'<"'7%8"+'<<)7"580'*='&=<#=$"'"'<"')U#%5&%L5TFBT+4$'+'&+c&#5.*+($/'%I5I5'!#'+5!65*+6'+&"+#%5C$+6'+&*(+q"A5+'!+'&+!*%#'+6'+1"&54*%!5"N+2!+^_^^+
A50*+($+"/"%5158!+#%"(+/'%."!'1'%+*1$&#*+a^+"b*(+'!+$!+%'.*#*+1"b8!N+2!#%'+^ouY+;+^o`eK+&"+
NSO h/6Yf9Qac>+'VI0:"*-'T.+<**+6'%+m$!(#+T+')5'[6YfV(Zc6>+'E8-'NJO'&";-'R
BE#PE6E:E#X#U4
.";*%O"+6'+&*(+.5'.C%*(+6'+($+#%5C$+4$'%*!+"!5-$5&"6*(+/*%+&*(+1*&*!*(+C&"!1*(N+2!+^o`eK+
65'15(,5(+($/'%I5I5'!#'(+6'+&"+."("1%'+('+%'4$L5"%*!+'!+&"(+&"6'%"(+6'&+.*!#'+9"(('!K+
6*!6'+I5I5'%*!+1*.*+1"0"6*%'(M%'1*&'1#*%'(N+2!+!*I5'.C%'+6'+^_eoK+1$"!6*+(8&*+
-$'6"C"!+1$"#%*+6'+'&&*(K+$!*(+#*/8L%"4*(+6'(1$C%5'%*!+($+1"./".'!#*+;+&'(+"%%'C"#"%*!+
($(+A'%%".5'!#"(K+($(+%*/"(+;+&"(+/%*I5(5*!'(+-$'+L$"%6"C"!+/"%"+'&+5!I5'%!*N+H+%"O0+6'+
"-$'&+'!1$'!#%*+.$%5'%*!+#%'(+;"A5+P&"+."6%'+;+&"+A'%."!"+6'+T(A5+;+$!+"!15"!*QN+T(A5+I5I58+
(*&*+6$%"!#'+#%'(+"b*(K+A"(#"+-$'+5!1"/"0+6'+%'(5(#5%K+'./%'!658+'&+1".5!*+A"15"+&"+
15I5&50"158!+6'+&*(+C&"!1*(+1*!+'&+#'.*%+6'+('%+&5!1A"6*N+2!+%'"&56"6+/'%."!'158+'!+'&+.$('*+
6'+&"+$!5I'%(56"6+6'+1"&54*%!5"+'!+("!+4%"!15(1*+;+.$%58+6'+#$C'%1$&*(5(+'!+^_^t-NS`
@"$)8',%":058'<0'<<":"'<"'])$"$D=G"'=5%7)$*"<'8)<'8)*;$)&%01'9*(+/$'C&*(+1*!+'(1%5#$%"+;+
1*!*15.5'!#*(+.'#"&c%L51*(+"I"!0"6*(+.'!*(/%'15"!+"+&*(+/$'C&*(+L"!"6'%*(K+-$5'!'(+"+
($+I'0+.'!*(/%'15"!+"+&*(+"L%51$&#*%'(+-$5'!'(+"+($+I'0+.'!*(/%'15"!+"+&*(+!8."6"(+;+"+
&*(+1"0"6*%'(+%'1*&'1#*%'(^YtX+)5')<'&"*0'8)'‚M$%&"')*#"';$0F$)*%L5')*'<"'*%F=%)5#)1
&0<050*'8)'‚M$%&"'ƒ'#=#*%*+'I0#)5#0#)*'ƒ'I=#=*'ƒ';%F:)0*+'E0*D=%:"50*'ƒ'"5%:"<)*-
K"#RKSR#!,#PEB9
2!+'&+*%5L'!+6'+&"+A$."!56"6+A"CO"+6*(+1"#'L*%O"(+6'+/'%(*!"(J+-$5'!'(+
('+6'651"C"!+"+&"+"L%51$&#$%"+;+&"+L"!"6'%O"+;+-$5'!'(+'(#"C"!+*C&5L"6*(+"+
/%*#'L'%+"+&*(+/%5.'%*(K+/*%-$'+&*(+"!5."&'(+("&I"3'(+;+4'%*1'(+
".'!"0"C"!+1*!+1*.'%+"+&"(+.$3'%'(+;+&*(+!5b*(K+6'(#%$5%+&"(+1*('1A"(K+
6'I*%"%+&"(+."!"6"(K+'#1N+>*%+&*+#"!#*+A"1O"!+4"&#"+1"0"6*%'(+6'(#5!"6*(+"+
/%*#'L'%+"+&"+1*.$!56"6+6'+"L%51$&#*%'(+1*!#%"+&"(+45'%"(N+9$'L*+&&'L8+$!+
.*.'!#*+-$'+&*(+1"0"6*%'(+4$'%*!+#"!+'451"1'(+-$'+&"(+45'%"(+
6'("/"%'15'%*!N+7'+%'($&#"(+"-$'&&*(+/'%65'%*!+$#5&56"6K+/'%*+/%'*1$/"6*(+
/*%+($+5!$#5&56"6+('+#%"!(4*%."%*!+'!+C'(#5"(+("&I"3'(+;+('+I*&I5'%*!+1*!#%"+
&"(+/'%(*!"(+-$'+/%*#'LO"!N
c-'>0;%50#'8)'<"'9I";0##)+'NJCSNSJ
2&+4'!8.'!*+6'&+6*.5!5*+('+I*&I58+'/56,.51*K+&*(+L%$/*(+A$."!*(+'./'0"%*!+"+'d/&*#"%+"+
NS` ,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,-'905D=%*#"80$)*'8)<':=580-'.5'?<"5&0'3'Y)F$0-';-OBC
NSH ,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,K'.*;"p"+')8-',)E"#)'ABBO
NSJ (Z69/6KV+'>%&I)<-'9*(+"!*%."&'(+';-CO
U@#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
*#%*(+L%$/*(+A$."!*(+1*.*+(5+4$'%"!+!"#$%"&'0"+'d#'%5*%J+"A*%"K+"+&"+('1'(58!+%'(/'1#*+6'+
&"+I5'3"+!"#$%"&'0"+&'+($1'6'+$!"+('1'(58!+6'+&*(+A*.C%'(+%'(/'1#*+6'+&*(+A*.C%'(N^Yo
.5'5=)*#$"*':"5"8"*'"*%*#%:0*'"'<0*':o<#%;<)*']=)F0*'$%40:^#%&0*'8)'%5#)$)*)*')5')<'F$=;0+'
D=)'*05'*%):;$)'&":E%"5#)*+'0$F^5%&0*+'"$#%&=<^580*)'3'8)*"$#%&=<^580*)'&05'=5"'<LF%&"'
%5#$"8=&%E<)+'D=)'0$"'*)'0$8)5"'*)Fo5'=5'8%*&=$*0+'0$"'*)Fo5')<'&05#$"$%0+'3'D=)'*%):;$)'
)*#"E<)&)'80*')])*+')5'#0$50'"'<0*'&="<)*'&05*#$=%$'<"'*)&=)5&%"'8)'"&&%L51'50*0#$0*e)<<0*Y=)*#$"',#51"+6'&+"('(5!"#*N+)*(*#%*(+;+'&&*(N+9*(+A$."!*(+A"!+"/&51"6*+$!+1%5#'%5*+6$"&+"+
($+1*!6$1#"J+4$'%#'(+5!A5C515*!'(+/"%"+."#"%+"+n$!*+6'+&*(+!$'(#%*(n+;+&$0+I'%6'+/"%"+."#"%+
"+$!*+6'+&*(+n($;*(n+(5'./%'+-$'+!*+%'($&#'+/'&5L%*(*N^Y_'2'&0$05"580')*#"'&05*#$=&&%L5'<"*'
L$8)5)*'D=)')<'>")*#$0+'"<'&="<'"&"#":0*+'7)5)$":0*'3'"&);#":0*'&0:0'F=G"+'&05')<'&="<'
I"&):0*'"<%"54"')5')<':=580'0&&%8)5#"<+'50*'8"1't50':"#"$^*ug'<"'*%<)5&%0*"'3';_$M%8"'
;0#)5&%"'8)'=5'8)7)5%$';"$#%&=<"$+'*%):;$)')5#$)<"4"80')5'5=)*#$"'0$8)5"&%L5'*0&%"<+')<'
6*C&'MC5!6K+<"'80E<)'7%5&=<"&%L5'"M)&#%7"N
.<'"50:"<+'M)5L:)50'8)'E0$8)+')5#$"'3'*"<)')5')*)']=)F0'&$=4"80'D=)'*=;05)5'<"*'"<%"54"*'
8)'<"*'D=)'*)'8)$%7"5'<"*'&00$8)5"8"*'50*0#$0*e)<<0*`$%!#E"!^$%+!*>#HI'!#$%"+H4%51"!"
9"+/'(#'+/*&O#51"+6'+&"+'%"+6'+&"+1$&#$%"+($/'%5*%J+&"+L$'%%"+5./'%5"&+;+&"+L$'%%"+'!#%'+
5./'%5*(N+rNNs+9"+1$&#$%"+($/'%5*%+A"+'d5L56*+6'."(5"6*+"+'('+"!5."&+6'+L%$/*(+/'-$'b*(+
-$'+'(+'&+A*.*+("/5'!(N^ae
K"'%5*#"<"&%L5'H4%51"!+H6I'!#$%'':=)*#$"'=5"'*)$%)'8)'M%F=$"*')5'=5'<=F"$'&05&$)#0'8)'9";)'
V0k5'D=)'#%)5)'5=:)$0*0*'1'!#%*(+6'+"I'!#$%"+;"$"'#=$%*#"*';)$0'8058)'#":E%_5'*)'$)o5)5'
M=F%#%70*'8)'‚M$%&"'&)5#$"<-'.<'";"$#I)%8'I"'M=5&%05"80'&0:0'*);"$"&%L5'F)0F$^M%&"')'
%:;)8%:)5#0'8)'=5%L5K0*'#$"E"]0*'8)'@"5)'/<)U"58)$'*)'$)M%)$)5'"<';08)$'8)<'&05#$0<'"E*0<=#0-'Q"3'I0:E$)*'&05'
NSP fKZV.c,a@['+'!)#)$-'2!+'&+.5(.*+C"%1*K+.*;"p"+'f%$=)<"'NCCC+';-``
NSC ,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,+'.*;"p"+')8-',)E"#)'ABBO
NOB fKZV.c,a@[+'!)#)$-'2!+'&+.5(.*+S"%1*+'f%$=)<"'NCCO+';-JP
BE#PE6E:E#X#UJ
#$"])'3'&0$E"#"'3'&"E)4"'"5%:"<+'0#$0'I0:E$)'8)*5=80'&05'&"E)4"'8)':050+'&05'4";"#0*'
*0E$)'=5'E%8L5+'0#$0'I0:E$)'M=)$#)'D=)'#%$"'8)'I%<0*'&05'<0*'D=)'"$$"*#$"';%)4"*'y:"&I)#)*+'
I0&)*'3'#$"&#0$)*z'3'I)$$":%)5#"*+'3';)D=)p0*'#$"&#0$)*+'#$"5*:%#)')<':%)80'8)<'D=)'0E)8)&)'
)U#$"p"*'L$8)5)*-'.*#"'M%F=$"'"<=8)'"'<0*';$0E<):"*'8)'#%)$$"*'D=)'*)'8"5')5'^M$%&"'&05'<0*'
;$0&)*0*'8)')U;$0;%"&%L5'8)')U;<0#"&%05)*'8)'E<"5&0*'3'<"'5=)7"'$);"$#%&%L5'8)'#%)$$"*K0*':"#)$%"<)*'*05'"=#_5#%&0*'3'0$%F%5"<)*1'#%)$$"'*=8"M$%&"5"+'0$0'7)$8"8)$0+'7)*#%80*'
&0<05%"<)*-'f058)0'8)'<"'8%7%*%L5'$"&%"<+'3"'D=)'50')U%*#)'<"'8%7%*%L5';0$'&<"*)*')5')<'*)5#%80'
D=)'<0'&050&):0*')5')<'$)*#0'8)'*0&%)8"8)*f)$'E<"5&0')5'f=8^M$%&"'3'8"$*)'&=)5#"'=5'8G"+'&0:0'*=&)8)'&05'"D=)<<0'&05'<0'D=)'I):0*'
&$)&%80+'=5'E=)5'8G"+'8)'$);)5#)+';"*"'8)'5=)*#$0*'$);)$#0$%0':)5#"<'"*)5#"80'"<'<"E0$"#0$%0'
8)';)5*":%)5#0+')<'<=F"$'8058)'"5"<%4":0*'<"*'&0*"*+'=5'E=)5'8G"'50*'8":0*'&=)5#"'8)'<"'
8%:)5*%L5'D=)'#0:"')<'8)<%#0'&0:)#%80'&05'<"*';)$*05"*'D=)'50*'$08)"5+'8)<%#0*'&0:)#%80*'
)5'E"*)'"'*='$"4"'0'$)<%F%L5'0'&="<D=%)$'0#$0'&$%#)$%0+'*%):;$)'8)'&057)5%)5&%"'3'"$E%#$"$%0+'
)5#05&)*'#080')<'";"$"#0'8)'<"'&05&%)5&%"+'D=)'%:;%8)'7%7%$')<'"D=G'3'"I0$"+'*)'8)8%&"'"'
E=*&"$'<"'M0$:"'8)'&057%7%$'&05')<<0+'8)';$0&)*"$<0'3'"*%:%<"$<0-'
.5#05&)*'#08"'=5"'&0:=5%8"8'D=)8"'"E*0$7%8"')5'&=)*#%05)*':)5#"<)*'8)'8%MG&%<'0'
%:;0*%E<)'*0<=&%L5-'Y0'I"3'M0$:"'8)';08)$'"&);#"$'D=)'"D=)<<0'D=)'<)F%#%:"E"'5=)*#$0'
&0:;0$#":%)5#0+'50'*05':^*'D=)'&L8%F0*'M%]"80*'"$E%#$"$%":)5#)+':07%80*';0$'<"'":E%&%L5'3'
<"'M"<#"'8)'&";"&%8"8';"$"'&$)"$'&0:=5%8"8)*'*0*#)5%E<)*'8)'&057%7)5&%"-
@"5)'/<)U"58)$+'H4%51"!+H6I'!#$%'K^a^+NCCCeABBA
#<96<B;T596KT#UI
<96<B;T596KT
>%'%57)*#%F"&%L5';"$#%L'8)'=5"'%5D=%)#=81'7)$%M%&"$'<"'7"<%8)4'8)'<0*'"$F=:)5#0*'D=)'I"EG"'
)*&=&I"80'"M%$:"580'<"'$"8%&"<'8%M)$)5&%"')5'#_$:%50*'8)'*=;)$%0$%8"8'8)'<"')*;)&%)'8)<'
I0:0'*";%)5*-'
Q)')5&05#$"80'<0'D=)'#):G"1'#080*'<0*'"$F=:)5#0*'D=)'I"5'*)$7%80')5'"<Fo5':0:)5#0';"$"'
"M%$:"$'<"'8%M)$)5&%"')5#$)'I0:E$)'3'"5%:"<'I"5'D=)8"80'%57^<%80*')5';0*#)$%0$)*'8)*"$$0<<0*'
&%)5#GM%&0*g')*#0'I"'8):0*#$"80'D=)'<0*'"$F=:)5#0*')5'<0*'D=)'I):0*'E"*"80'&"+654'%'!15"+
50'*05')*#"E<)*+'3'50'I):0*'*%80'&";"&)*'8)'8):0*#$"$<0*'&05')<':_#080'&%)5#GM%&0g'_*#0*'
I"5'*%80'8)*:"5#)<"80*+'=50'#$"*'0#$0+'8)*8)'<"'&%)5&%"f)F=%:0*'%5#)5#"580'#$"4"$'=5"'<G5)"'D=)')*#"E<)4&"'=5"'E$=*&"'8%M)$)5&%"-'f%5'):E"$F0'
*)F=%:0*'*%)580'%50;0$#=50*'&05'5=)*#$"'<G5)"+'<"'#$"&):0*'8058)'<"'#$"&):0*--V"5'*L<0'I)')5&05#$"80'=5"';$0;=)*#"'D=)+';"$"':G+')*#"E<)&)'=5"')U;<%&"&%L5'*"#%*M"&#0$%"'
8)<'&05&);#0'8)')70<=&%L5'<%5)"<'3';$0F$)*%7"'e8"$k%5%*#"e'"<'D=)'50*'"M)$$":0*g')*'<"'D=)'*)'
8)$%7"'8)<';)5*":%)5#0'8)'c"3'[=$4k)%<+'&%)5#GM%&0'8)'<"'&0:;=#"&%L5+')*;)&%"<%*#"')5'
%5#)<%F)5&%"'"$#%M%&%"<'3'M=#=$L<0F0K"'&05&<=*%L5'"'<"'D=)';"$)&)'<<)F"$')*'D=)'<"'7)$8"8)$"')70<=&%L5')*'<"'D=)'8)*"$$0<<"'<"'
%5M0$:"&%L5'8)*8)')<';$%5&%;%0'8)'<0*'#%):;0*-'
@5'!#%"(+-$'+'&+&'!L$"3'K+'&+"%#'+;+&"+"L%51$&#$%"+!*+(*!+"#%5C$#*(+%'"&.'!#'+'d1&$(5I*(+6'+&"+
A$."!56"6K+&"+1"/"156"6+6'+"/%'!6'%+6'+&"+'d/'%5'!15"+6'+&*(+.5'.C%*(+6'+!$'(#%"+'(/'15'+
6'+&$L"%'(+65(#"!#'(+*+6'&+/"("6*+%'.*#*+(O+'(+$!+%"(L*+(5!L$&"%+6'+&"+A$."!56"6N^ak
f%F0'8=8"580'8)'<0';$)&)8)5#)+';=)*'&05*%8)$0'D=)+'&05'<0*':)8%0*'D=)':"5)]":0*+'50'
;08):0*'*"E)$'*%'"<F=5"')*;)&%)'"5%:"<';$"&#%&"'&=)*#%05)*'*%:%<"$)*+';=)*#0'D=)'_*#"*'
)*#"$G"5'&08%M%&"8"*')5'*=*';$0;%0*'&L8%F0*+'"'<0*'D=)'50'#)5):0*'"&&)*0'%'"&f%5'):E"$F0+')*#"'"M%$:"&%L5'8)'@"$)8',%":058'";03"$G"'<"'#)*%*'8)'D=)'$)"<:)5#)'*0:0*'
7)IG&=<0*'8)'%5M0$:"&%L5+'3'D=)'_*)'*)$G"')<';"*0'D=)'8%0'<"')70<=&%L5'&05'50*0#$0*+';"*0'
D=)'*)';$0<05F"')5'<"'7%8"'8)'<"*':^D=%5"*-
NON HI'!#$%"+H4%51"!"+yV$"8=&&%L5'8)'<"'"=#0$"z
NOA ,a/>ZY,+'@"$)8-'.<'#)$&)$'&I%:;"5&_+',)E"#)+'.*;"p"'ABBO+';-OPC
US#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
,)*8)'<"'7%*%L5'8)'[=$4k)%<+'<"')70<=&%L5'E%0<LF%&"'D=)'I):0*'7%7%80'I"'*%80')5'"$"*'8)'=5"'
:"30$'&";"&%8"8'8)'"<:"&)5":%)5#0'3';$0&)*":%)5#0'8)'<"'%5M0$:"&%L5-',)')*#"'M0$:"'<"'
)70<=&%L5'&05#%5o"+'3')*#^'"';=5#0'8)'*0E$);"*"$'"<+'I"*#"'"I0$"+'";"$)5#):)5#)':"30$'
;$0&)*"80$'8)'%5M0$:"&%L51')<'&)$)E$0-'
.<'&)$)E$0'I=:"50')*#^'8"580'M0$:"'"<'*%F=%)5#)'*%L"!5(.*+'I*&$#5I*K+D=)')*'<"':^D=%5"g'
;"$)&)'<G&%#0'<<":"$<0'0$F"5%*:0+';=)*#0'D=)'<"*'%57)*#%F"&%05)*'o<#%:"*';"$"')<'8)*"$$0<<0'8)'
<"'&0:;=#"&%L5'*)')*#^5'$)"<%4"580'&05':"#)$%"'0$F^5%&"-',)'I)&I0'3"')*#^':=3'"7"54"8"'
<"'M0$:"')5'D=)')*#0*'0$8)5"80$)*'8)'o<#%:"'F)5)$"&%L5+'&05':"#)$%"<'0$F^5%&0+'*05'
&";"&)*'8)';$0&)*"$'<"'%5M0$:"&%L5g'M"<#"';0$'*0<=&%05"$')<'D=)'<"'%5M0$:"&%L5'*)';=)8"'
"<:"&)5"$')5')*#"':"#)$%"'0$F^5%&"1'D=)'"<'";"F"$'<"':^D=%5"'e='0$F"5%*:0e'3')5&)58)$<"+'
<"'%5M0$:"&%L5'*)'&05*)$7)<&!%/&$#0#'&,-!*&Fg#"$#,F/&!+$+#+!#"$#&%GF*'$/&\%
K"';$)*)5#)'%57)*#%F"&%L5'*=;05)')<')*#"E<)&%:%)5#0'8)'=5"*'E"*)*+'D=)'M%]"5'<"*'
&00$8)5"8"*'8)*8)'<"*'&="<)*'*)F=%$'0E*)$7"580'<"')70<=&%L5'8)'5=)*#$"'*0&%)8"8')5'
&="5#0'D=)'*0&%)8"8'8)'<"'%5M0$:"&%L5+'3'8)<'&"$^&#)$'D=)'7"'"80;#"580'<"'&%)5&%"+'D=)')*'
*%5'8=8"';$0#"F05%*#"')'%5#)$<0&=#0$"'8)'<0*'&":E%0*'D=)'*)';$08=&)5ZE*)$7"$'<"';$0F$)*%L5')5'D=)+'8)*8)'<"*'E"&#)$%"*+';"*"580';0$')<'"5%:"<'3'*='o<#%:"'
*0M%*#%&"&%L5+')<'I=:"50+'):)$F)'<"':^D=%5"+'&0:0')<):)5#0'7%#"<'D=)')*#^'*0E$);"*"580'
)5'&";"&%8"8)*'"'&="<D=%)$'0$F"5%*:09$)0'D=)')*#)'M)5L:)50'50';%)$8)'*=':%*#)$%0+';0$':^*'D=)')<':_#080'&%)5#GM%&0'50*'I"3"'
I)&I0'&$))$'D=)'*='%8%0*%5&$"*%"')*'<"'&";"&%8"8'8)'8)*7)<"$'#080':%*#)$%0-'
V"<'&0:0'8)*"$$0<<"'[=$4k)%<')5'*=*'<%E$0*+')<';$0F$)*0'#)&50<LF%&0'#%)5)'=5'&"$^&#)$'
)*;%$%#="<-'2')*#)'&"$^&#)$')*;%$%#="<';)$:"5)&)$^':%*#)$%0*0K"'M0$:"')5'D=)'<"*'&%)5&%"*'*)':)4&<"5'&05'<"*'I=:"5%8"8)*';"$"'&05*#%#=%$'<"*'&%)5&%"*'
&0F5%#%7"*+'3'&=30';$0&)*0'*)F=%$):0*'0E*)$7"580+'3"'D=)'#$"5*&%)58)'"'<"'&=<#=$"';0;=<"$'
8)'M0$:"'&"8"'7)4':^*')7%8)5#)+'*)$^'I%<0'&058=&#0$'3';)$:"5)&)$^'&0:0'M0&0';"$"')<'
;$LU%:0'8)*"$$0<<0'8)')*#"'%57)*#%F"&%L5-
#<96<B;T596KT#U?
90:0'"M%$:"'.$%\'["58)<+'&"+.'!#'+'(+$!+#'."+1'!#%"&+'!+#*6"+&"+15'!15"N+q+.$1A*(+
C58&*L*(K+&"+.";*%O"K+1%''!+-$'+&"+C5*&*LO"+6'+&"+.'!#'+('%?+"&+(5L&*+ggTK+&*+-$'+4$'+&"+
C5*&*LO"+6'&+H7)K+6'+&*(+L'!'(K+"+&"+('L$!6"+.5#"6+6'&+(5L&*+ggN+F'+#%"#"+6'+"&L*+-$'+#*6*+'&+
.$!6*+-$5'%'+'!#'!6'%N^aY
.5')<':0:)5#0'"&#="<'"#$"7)*":0*'=5"'M$"5]"')5'<"'D=)'#080'"D=)<<0'D=)'7"<%L'&0:0'
&%)5&%"eM%&&%L5'I"&)';0&0':^*'8)':)8%0'*%F<0+')*'I03'$)"<%8"8/&#="<:)5#)'*)';)$M%<"'&0:0'$)"<'<"')*M)$"'D=)'*)'8%*)pL')5'"D=)<<0*'$)<"#0*+'3')*')<'
:0:)5#0')5'D=)'"D=)<<"*'7%*%05)*'8)'=#0;G"'3'M=#=$0'"*=:)5'=5'%58%*&=#%E<)';$)*)5#)-'
r9L:0'$)"&&%05"$):0*'"')*#"*'8):0*#$"&%05)*s'r&L:0'&":E%"$^'5=)*#$"'7%*%L5'8)'<0'D=)'
%:"F%5":0*+'8)'<"'M0$:"')5'D=)'F)5)$":0*'<"'$)"<%8"8s
Y0*')U;<%&"'>"$F=<%*'D=)'<"*')*;)&%)*'<<":"8"*'/5*!'%"(+"#$"7%)*"5'80*'M"*)*g'=5"';$%:)$"'
M"*)')5'D=)'#%)58)5'"'=5"';$0<%M)$"&%L5'8)*:)8%8"+'&05*=:%)580'<0*'$)&=$*0*'I"*#"'&"*%'*='
"F0#":%)5#0+'3'F)5)$"580':^*'8)*;)$8%&%0'8)<'D=)';=)8)5'*0*#)5)$g'3'=5"'*)F=58"')5'<"'
D=)'*)';$08=&)'=5'$)"]=*#)'3'<"')*;)&%)')70<=&%05"')5&05#$"580'<"'M0$:"'8)'$)&%&<"$'*=*'
8)*;)$8%&%0*+'3'8)'"]=*#"$*)')5'*='&05*=:0'8)'<0*'$)&=$*0*-'
/':)5=80+'50*'8%&)+'"'<0'<"$F0'8)'<"'I%*#0$%"'8)'<"'7%8"+'<0'D=)'&0:%)54"'*%)580')U&$):)5#0'
0'8)*;)$8%&%0'0';0<=&%L5+')5')<')5#0$50'8)'=5"';0E<"&%L5'&$)&%)5#)'*)'&057%)$#)')5'=5'
$)&=$*0';"$"'<"')U;"5*%L5'3')<'&":E%0g'<0*';$0&)*0*'8)'$)&%&<"])'3'$)=#%<%4":%)5#0'*)'$)M%5"5'
3'F"5"5')5'&0:;<)]%8"8-'K"*')*;)&%)*'/5*!'%"(':=)$)5+':%F$"5'0'*)')*#"E<)&)5g')5#05&)*'
";"$)&)5'<"*')*;)&%)*'1&5."dX+*=*':%):E$0*'*)'&0:;$0:)#)5')5';$^&#%&"*')*#"E<)*-
K"'#)&50<0FG"+'"M%$:"'>"$F=<%*+')*';"$#)'%5#)F$"<'8)'<0*'&%&<0*')&0<LF%&0*'8)'"E"*#)&%:%)5#0+'
8)*I)&I0'3'$)=#%<%4":%)5#0'D=)'";"$)&%)$05')5'<"'#%)$$"':=&I0'"5#)*'8)'D=)'5=)*#$0*'
"5&)*#$0*'M=)$"5'I=:"50*g'&0:0'8)*"$$0<<"$"'a7"5'R)$5"8*\3')5'*='0E$"'8)'NCAH+'S5*(4'%"+'
<"'M=)$4"'F)0<LF%&"'8)':"30$'%:;"&#0')*'<"'7%8"--NOO'
!"$"<)<":)5#)'c"3'[=$4k)%<';$)8%&)'=5'M=#=$0'M)<%4')5'D=)'<"'5"50#)&50<0FG"+'D=)';$08=&)'
NOS I##;1jjkkk-$#7)-)*j#7)jEj$)8)*ABBJj*):"5"<j;$FOONj)5#$)7%*#"-I#:
NOO >/cW6Kaf+'K355'"58'f/W/Y+',ZcaZY-'F'1*!6+)"#$%'+)5'
I##;1jjkkk-=:"**-)8=j=:"**:"Fj"$&I%7)*jNCCCjM"<<~CCjM"<<CC~M~A585"#=$)-I#:<
UO#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
I=:"50*'&%E0$F*'&=3"'$)"<%8"8')*'7%$#="<+')*'&";"4'8)'$)8=&%$'&0*#)*'I"&%)580'"*G'"'<"'
M=#=$"'#)&50<0FG"'&";"4'8)'$)8=&%$'<"';0E$)4"')5')<':=580Y0*'&=)5#"'&L:0'<"'#)&50<0FG"'50$:"<:)5#)'&0:%)54"';$08=&%)580';$08=&#0*'%5"*)D=%E<)*'
D=)'50'M=5&%05"5'8)<'#080'E%)5+'*)F=%80*';0$'7)$*%05)*'&"$"*'D=)'M=5&%05"5'=5';0&0':)]0$'3'
M%5"<:)5#)';0$';$08=&#0*'E"$"#0*'D=)'M=5&%05"5'$"405"E<):)5#)'E%)5-NO`'
.5'&="5#0'"'<"';0E$)4"+';$)8%&)'D=)')5'<0*'"p0*'ABABx'<"'#)&50<0FG"':0<)&=<"$'F)5)$"$^'
I)$$":%)5#"*';"$"'&0:E"#%$'8)'M0$:"')M)&#%7"'<"';0E$)4"+'<%:;%"$'5=)*#$0')5#0$50+'*=;)$"$'<"'
)5M)$:)8"8+')U#)58)$'<"'<05F)7%8"8'I=:"5"+'3':=&I"*'0#$"*':)]0$"*-^at
/*%:%*:0'"M%$:"'D=)'*)&#0$)*'*=*#"5&%"<)*'8)'5=)*#$"')*;)&%)'3"'I"')U;)$%:)5#"80'
:)]0$"*')5'&="5#0'"';0E$)4"+')5M)$:)8"8+'#$"E"]0'8=$0+'3'#$"F)8%"*'D=)'I"5'&"$"&#)$%4"80'
)<'F$=)*0'8)'<"'I%*#0$%"'I=:"5"2!+&"+%'L58!+6'+"(5"+6'&+'(#'+;+'&+/"1O451*K+'&+!c.'%*+6'+/'%(*!"(+I5I5'!6*+'!+1*!6515*!'(+
6'+/*C%'0"+'d#%'."+65(.5!$;8+6'+a`e+.5&&*!'(+'!+^__e+"+k`e+.5&&*!'(+'!+keeK+;+('Lc!+'&+
C"!1*+.$!65"&+'(#"%?+/*%+6'C"3*+6'+ke+.5&&*!'(+'!+'&+"b*+ke^u^a`N
f%5'8=8"'<"'7%*%L5'8)'c-'[=$4k)%<')*')U#$):"8":)5#)'0;#%:%*#"g'<"'&05#$"e7)$*%L5';)*%:%*#"'
<"')5&05#$":0*'"'8%"$%0')5'<0*':)8%0*'3')5'E0&"'8)'<"'*"E%8=$G"';0;=<"$-'Q"E$^'D=)'*)F=%$'
0E*)$7"580--E)-F*!,#/F%#"F,#()!#/F%-&%)$*
:&$%$#7Z$-!*
f)'I"5'D=)8"80+'*%5'8=8"+':=&IG*%:0*'"=#0$)*'M=)$"'8)')*#)')*#=8%0+'#"5#0'#)L$%&0*'&0:0'
"$#%*#"*-'650'8)'<0*'#$"E"]0*'D=)'D=)8"5';)58%)5#)*')*')<'8)',%"5"'VI"#)$+'8058)'<0'
#)&50<LF%&0'3'<0'400<LF%&0'*)'#$)54"5')5')<'^:E%#0'8)'<"'%5*#"<"&%L5'F)5)$"580')5#0$50*'D=)'
;$08=&)5'=5"')*M)$"'&05';0#)5&%"'8)';)$&);&%L5'3';)5*":%)5#0-'
NO` [6chb.aK+'c"3-'=A'+(5!L$&"%5#;+5(+!'"%-';-'SSP
NOH [6chb.aK+'c"3-'=A'+(5!L$&"%5#;+5(+!'"%-';-'AON
NOJ [6chb.aK+'c"3-'=A'+(5!L$&"%5#;+5(+!'"%-';-'CC
#<96<B;T596KT#U[
f='#$"E"]0')*'=5"'$)M<)U%L5'"&)$&"'8)'<"'80:)*#%&"&%L5'8)'<"'5"#=$"<)4"+'&0:0'%58%&"')<'#G#=<0'
8)'=5"';%)4"'8)'NCJJ1'9"+!"#$%"&'0"+'(+$!+&'!L$"3'K+l'(+-$'+!*+("C'(+&''%]+P)"#$%'+5(+"+
&"!L$"L'K+1"!x#+;*$+%'"6]QX'*%5'):E"$F0+'*=';<"5#)":%)5#0'*%#o"'<"'#)&50<0FG"'3'<"'5"#=$"<)4"'
)5'=5'&05#%5=0+'";"$#^580*)'8)'<"'#$"8%&%05"<'"5#G#)*%*')5'<"'D=)'#%)58)5'"')*#$=&#=$"$*)'
":E0*'&05&);#0*g')5',%"5"'VI"#)$+'<"'#_&5%&"')*'=5':)8%0')5#$)'8%M)$)5#)*'&";"*'8)'
$)"<%8"8.5':=&I"*'8)'*=*'%5*#"<"&%05)*'$)"<%4"'=5"')<"E0$"&%L5'"';"$#%$'8)'"5%:"<)*'"&#0$)*g')*#0*'
"&#0$)*'*)')8=&"5')5'F$"5]"*')*;)&%"<%4"8"*'D=)'0M$)&)5')*#0*'"5%:"<)*'"8%)*#$"80*';"$"'
<"'%58=*#$%"':)8%^#%&"+'#"5#0'80&=:)5#"<)*'8)'7%8"'t*"<7"])u'&0:0';)<G&=<"*+'&0:0'0#$"*'
";<%&"&%05)*'8058)'*)'5)&)*%#"'"<'"5%:"<'"&#0$-'9$)0'D=)')*#0*'"5%:"<)*')8=&"80*';"$"'<"'
"&#="&%L5';=)8)5'$)*=<#"$'=5')*;)]0')5')<'D=)'*058)"$'5=)*#$"*'&";"&%8"8)*'&0:=5%&"#%7"*'
)5#$)')*;)&%)*'3'&050&%:%)5#0*')5';*%&0<0FG"'&0F5%#%7"!)$0+'"8):^*+')<<"'$)"<%4"'#08"'=5"')<"E0$"&%L5'8)'<LF%&"':"#):^#%&"')5'D=)')<'"5%:"<'"&#0$'
*)')5#$)<"4"'&05')<'";"$"#"])':)8%^#%&0'8)'$);$)*)5#"&%L5-'f=*'%5*#"<"&%05)*'*05':05%#0$)*'
3';$03)&&%05)*'8)<'#$"E"]0'$)"<%4"80'&05')*#0*'"5%:"<)*+'8058)'<0*')<):)5#0*'*)'0$8)5"5'
*)Fo5'=5'&^<&=<0':"#):^#%&0'8)'<0*'M"&#0$)*-'
9$)0'D=)')*'=5'#$"E"]0':=3'&"<&=<"80+';)$0'#":E%_5':=3'%5#=%#%70')5')<'D=)'*058)"$')<'^$)"'
)5'D=)'8%M)$)5#)*'0$F"5%*:0*'3'&05&);#0*'&057%7)5'3'*)'0$F"5%4"51')<'"=#0$'0'"$#%*#"+')<'
"5%:"<+'*=')8=&"&%L5'eD=)')*'$)M<)]0'8)'5=)*#$"*'&";"&%8"8)*'&0:=5%&"#%7"*'&05'_<e+'<"'
:^D=%5"+'<0*')*;"&%0*'8058)'*)'%5*#"<"--:F)M"$,#CF*+F%
Z#$0'#$"E"]0'&05')<'D=)'&05#%5="$')*#"'%57)*#%F"&%L5')*')<',0=F<"*'W0$805g'*='#$"E"]0')*'=5"'
$)M<)U%L5'"&)$&"'8)'<"'7%*="<%8"8'"'#$"7_*'8)'<"';"5#"<<"+'D=)')*'&"$"&#)$G*#%&"+'3'&$)&)'
)U;05)5&%"<:)5#)+'8)*8)'<"'%5#$=*%L5'8)'<0*'#)<)7%*0$)*')5'<0*'I0F"$)*')5'<0*'"p0*'JB-'
f%):;$)')5')<':"$&0'8)'<"'7%*="<%8"8'8)'&"$^&#)$'7%$#="<+')*#^'%5#)$)*"80')5')<'&05&);#0'8)'
#%):;0'3'8)'<"';*%&08%5^:%&"'%5I)$)5#)'"'<"':):0$%"+'&05&);#0*'D=)'#"E"]"'&05':"#)$%"<'
&%5):"#0F$^M%&0-'9"+('6$1158!+6'+&"+5."L'!+'!+.*I5.5'!#*+-$'+L'!'%"+56'!#5451"158!+A"(#"+
'&+/$!#*+6'+('!#5%+-$'+&"+%'"&56"6+/&"!#'"6"+6'(6'+&"+/"!#"&&"+'(+&"+!$'(#%"N+9"+L'!#'+A*;+'!+
6O"+#5'!'+.?(+1"/"156"6+6'+%'&"15*!"%('+1*!+'&+#5'./*+15!'."#*L%?451*+-$'+1*!+'&+#5'./*+6'+
UU#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
&"+%'"&56"6^ao-'K"*';%)4"*')<"E0$"8"*')5'#0$50'"<'&05&);#0'8)'#%):;0'*)'#%#=<"5'G'"&+=5.'N+2&+
#5'./*+15!'."#*L%?451*'eAO'M$":)*';0$'*)F=580e'*)'I"'&057)$#%80')5'#5'./*+%'"&K'"M%$:"'
,0=F<"*'W0$805-'
65"'8)'<"*';%)4"*'D=)'&05&%E)')5')*#"'<G5)"')*'t`'2)"$*',$%7)e?3u'<"'$"<)5#%4"&%L5'8)'=5"'
;)<G&=<"'8)'@0I5'(0$8'e=A'+F'"%1A'%(M+"'<"'8=$"&%L5'8)'`'"p0*.<'#$"E"]0'8)',0=F<"*'W0$805+')5')<'D=)'#":E%_5'";"$)&)5'"5%:"<)*+'I"E<"5'8)'=5"'
8%:)5*%L5'F)0<LF%&"+'8)<'*%<)5&%0'8)<')*;"&%0Q!%*0#A!*M,F%
90:0'&05#%5="&%L5')5'<"'<G5)"'8)'%57)*#%F"&%L5'"E%)$#"'&05')*#)'#$"E"]0+')<'M%<L*0M0'Q)5$%'
?)$F*05+';08$G"':"$&"$'<"')70<=&%L5'8)<'#$"E"]0'I"&%"'&05&);#0*':^*'%5:"#)$%"<)*-'
.5'*='0E$"'"5"<%4"'<"')70<=&%L5'"'<"'<=4'8)<'%:;=<*0'&$)"80$+')'%5*%*#)')5'=5'"5^<%*%*'8)'<"'
%5#=%&%L5'&0:0'<"'&="<%8"8')5'<"'D=)'<"'%5#)<%F)5&%"+'*=$F%8"'&0:0'*=;)$"&%L5'8)<'%5*#%5#0')5'
=5"')#";"'8)'<"')70<=&%L5'E%0<LF%&"+')*'&";"4'8)':"5#)5)$'*='7%5&=<"&%L5'&05'<"'&05&%)5&%"'
;)$0+'"'<"'7)4+'$)&=;)$"$'<0'%5*#%5#%70g')5#05&)*'*=$F)'<"'%5#=%&%L5+'D=)';)$:%#)'=5'
&050&%:%)5#0':^*';$0M=580'D=)')<'*=:%5%*#$"80';0$'<"'%5#)<%F)5&%"+'3'D=)'I"&)';0*%E<)'<"'
*=;)$"&%L5'8)'<"*'E"$$)$"*'%5#)$;=)*#"*';0$'=5'<)5F="])'%5&";"4'8)'M=58%$*)'&05'<0'$)"<-'
K"'&%)5&%"'M$"&&%05"'<0'$)"<')5'=5%8"8)*'8%*&$)#"*'3'<"'&057%)$#)')5')*#^#%&"-'90:0')<'&%5)+'
&=3"'*)5*"&%L5'8)':07%:%)5#0')*'<"'%$$)"<'3=U#";0*%&%L5'8)'M0#0F$":"*')*#^#%&0*-'.*#"'
)*#$"#%M%&"&%L5'8)'<0'$)"<';)$:%#)'*='&L:080')#%D=)#"80'<%5FXG*#%&0')5'&05&);#0*'#":E%_5'
)*#^#%&0*'3'M^&%<:)5#)'&="5#%M%&"E<)*-'
.5'&05#$"'8)<')70<=&%05%*:0'8)',"$k%5+'"<'D=)'#08"7G"'&05*%8)$"'=5"')U;<%&"&%L5'
:)&"5%&%*#"'8)'<"'7%8"+'?)$F*05'*=*#)5#"'<"'„)70<=&%L5'&$)"80$"…'&0:0')U;<%&"&%L5'8)'<0*'
;$0&)*0*')70<=#%70*-'!"$"'%<=*#$"$')*#"'I%;L#)*%*')*#=8%"'<"'M0$:"&%L5')70<=#%7"'8)'8%7)$*0*'
L$F"50*+')5')*;)&%"<'8)8%&"'*='"#)5&%L5'"'<0*';$0&)*0*'8)'M0$:"&%L5'8)<'0]0')5'<0*'
:0<=*&0*'3')5'<0*'7)$#)E$"80*-'K"'*):)]"54"'D=)':=)*#$"5'y„&0:;<)]%8"8'8)')*#$=&#=$"'3'
*%:;<%&%8"8'8)<'M=5&%05":%)5#0…z+'*%)580'M$=#0'8)'<G5)"*')70<=#%7"*'#"5'8%7)$F)5#)*+'50'*)'
)U;<%&"'$)&=$$%)580'"'=5')70<=&%05%*:0'8"$k%5%*#"+';)$0')5'&":E%0';=)8)')U;<%&"$<"'<"'
NOP f!.9VZc+'Y"5&3')5'H%#+4%*.+#A'+jm-'f"::<=5F'W0)#4+'>=5%&I'NCCJ
#<96<B;T596KT#4WW
I%;L#)*%*'8)'=5'%:;=<*0'7%#"<'&0:o5-'K"')70<=&%L5'8)'<"*')*;)&%)*')*'M$=#0'8)<'%:;=<*0'7%#"<'
0$%F%5"$%0-NOC
e!-!*#T"F-!*+&cb
!)#)$'f<0#)$8%]\'$)&<":"'=5"'905*#%#=&%L5'&0:o5';"$"'#080*'<0*'m&%=8"8"50*m'8)<';<"5)#"1'
*)$)*'I=:"50*+':^D=%5"*+';<"5#"*'3'"5%:"<)*-'
9"+654'%'!15"+*!#*&8L51"+6'+&"(+"I'(+;+6'+&*(+%'/#5&'(+1*!+&*(+.".O4'%*(+M'(+6'15%K+#".C5,!+'&+
A*.C%'+M'(+-$'+('+1*!(#5#$;'!+1*.*+('%'(+'!+&"+1*5!156'!15"+6'&+!56*+1*!+'&+1$'%/*+
."#'%!*K+&"+1"I'%!"+1*!4*%#"C&'+;+/%*#'1#*%"K+$!"+$#*/O"+C5*&8L51"+-$'+'&+('%+A$."!*+5!#'!#"+
%'1%'"%K+4$'%"+6'&+1$'%/*+6'+&"+."6%'+/*%+.'65*+6'+1*!(#%$115*!'(+15'!#O451"(K+56'*&8L51"(+*+
%'&5L5*("(NN`B
!"$"'<"'&05#%5="&%L5'8)')*#"'%57)*#%F"&%L5+'8)*)0'&05#%5="$'&05'<"'#$%<0FG"'8)'!)#)$'f<0#)$8%]\'
2(4'%"(N
.<';$%:)$'70<=:)5'2(4'%"(+T+M+S$%C$3"(K'I"'"&0:;"p"80')*#"'%57)*#%F"&%L5g')5'_<'f<0#)$8%]\'
8)*&$%E)')<''(/"15*+65?651*+6'+%'(*!"!15"+'!#%'+&"(+/'%(*!"(+')5'<0*'8%M)$)5#)*'&"*0*'8)'<"*'
$)<"&%05)*':"8$)eI%]0+';*%&0"5"<%*#"'3'"5"<%4"80+':G*#%&0*'3',%0*+')#&g')*'=5'"5^<%*%*'8)'
5=)*#$0';$%:)$'I"E%#^&=<0+')<'7%)5#$)':"#)$50+'&057%$#%_580*)'"*G')5')<')5*"30'8)'=5"'#)0$G"'
8)'<"'%5#%:%8"8+'8)<')*;"&%0'%5#)$%0$+'&05')<'D=)')U;<%&"'*='&05&);&%L5'F)5)$"<'8)<':=580'3'
8)'<"'I%*#0$%".<'*)F=580'70<o:)5+'2(4'%"(+TT+M+•&*C*(+')*'=5"'I%*#0$%"'8)'<"'F<0E"<%4"&%L5-'
!"$#)'8)'<"'50&%L5'8)'<"*'&=<#=$"*'"5#%F="*'D=)'&05&)EG"5')<':=580'&0:0'=5'&G$&=<0'
)*;%$%#="<+'3'8)'&L:0'<0*'F$%)F0*'<<)7"$05'"'&"E0')<';$03)&#0'8)'F)0:)#$%4"&%L5'8)<'&0*:0*+'
)#&-'<0'D=)'F)5)$L'$!"+A5(#*%5"+45&*(8451"+6'+&"+L&*C"&50"158!N+>%5.'%*+('+L&*C"&508+'&+$!5I'%(*+
1*!+";$6"+6'+&"+L'*.'#%O"+;+&$'L*+('+L&*C"&508+&"+#5'%%"+1*!+";$6"+6'&+1"/5#"&N
2+'M%5"<:)5#)+')<'#)$&)$'70<=:)5'2(4'%"(+TTT+M+2(/$."(+'#):"#%4"')<':=580':08)$50')5'
#_$:%50*'8)'=5"'#)0$G"'8)'.$&#5/&5156"6'(+'(/"15"&'(-'.<'70<o:)5'&05#%5o"'<"'$)M<)U%L5'8)*8)'
<0'"$D=%#)&#L5%&0+'&05&%E%)580'<"'&"*"'&0:0'*%*#):"'%5:=50<LF%&0-'!0$'=5'<"80'%5#)$;$)#"')<'
NOC t,%&&%05"$%0'8)'M%<0*0MG"')5'9,ecZ>m'8)'.8-'Q)$8)$
N`B I##;1jj"<&0E)$$0-%5M0jRNj*<0#)$8%]\-I#:
4W4#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
I"E%#"#':08)$50+')<'";"$#":)5#0'<"'7%7)58"'%58%7%8="<'0't:050;"$)5#"<u+';0$'0#$0'0M$)&)'=5"'
7%*%L5'8)'<0*'&05#)5)80$)*'8)':"*"*+'$)*"<#"580')<')*#"8%0'0<G:;%&0-'/:E"*'&05*#$=&&%05)*'
<"*':"5)]"'&0:0'%5*#"<"&%05)*'"#:0*M_$%&"*+'&05'<0'D=)'#$"#"'8)'8"$'=5"'7%*%L5'"&#="<%4"8"'
8)'<"'I%*#0$%"'8)'<"*'"#:L*M)$"*-N`N'
K"#$*-!.#%\'$+$
!$0E"E<):)5#)')<'"$#)'*)')5&=)5#$"'*%):;$)''!#%''8%M)$)5#)*'8%*&%;<%5"*'3'50';=)8"')U%*#%$'
8)'0#$"'M0$:"g')5'&="5#0')5&=)5#$"'=5'<=F"$'*=30'7=)<7)'"'*"<%$'8)'_<.<';$03)&#0'8)<'"$#)';0$')<'"$#)+'#"=#0<LF%&0'3'"=#0'$)M)$)5&%"<+'<<)7L'"'=5"'F$"5')U;"5*%L5'8)<'
<)5F="])'3'<"*';0*%E%<%8"8)*'8)<'"$#)g'*%5'):E"$F0+'50';"$)&)'*)$'=5'<=F"$'$%&0')5')<'D=)'
;)$:"5)&)$-'.5'*)F=%8"+')<'"$#)'7=)<7)'"'$)&0$$)$'<"*'&"<<)*'8)'8058)'0E#%)5)'*=':"#)$%"'
;$%:"E*-!#0#'!+&/&%$
2&+.,651*+/'%/&'3*N`A')*')<'*=F)$)5#)'#G#=<0'8)'=5'<%E$0-'65')]):;<0'8)'<%#)$"#=$"'8)':_8%&0*'
D=)'I"'*%80'8)'F$"5'%5#)$_*';"$"')*#"'%57)*#%F"&%L5'*05'<0*'<%E$0*'8)'Z<%7)$'f"&\*.*#)':_8%&0'I"'8)*&$%#0'&"*0*'%5&$)GE<)*'8)';"&%)5#)*'&05';$0E<):"*'5)=$0<LF%&0*+'D=)'8"5'
50&%L5'8)'<0'"$E%#$"$%"'3'*=#%<'D=)')*'<"'<G5)"'D=)'*);"$"'<0'!*%."&'8)'<0';"#0<LF%&0-'f05'
&"*0*'D=)'#%)5)5'<"'&";"&%8"8'8)'%<=*#$"$'8)'=5"'M0$:"':=3'"*)D=%E<)'3'F$^M%&"+'"'0]0*'
;$0M"50*+')<'M=5&%05":%)5#0'8)<'&)$)E$0+'3'8)'":;<%"$'0'&=)*#%05"$'&05&);#0*'D=)')*#^5'
"$$"%F"80*')5'=5"'&=<#=$"';0;=<"$'D=)'*)'D=)8"'"#$^*'$)*;)&#0'8)'5=)*#$"'$)"<%8"8'
&05#):;0$^5)"-'
f05':0:)5#0*'8)'&05)U%L5'$%40:^#%&"'8)'8%M)$)5#)*'^$)"*+'*05'E<0D=)*'8)'8)7)5%$+'
I"E<"580'&05',)<)=4)'3'W="##"$%.<':_8%&0'$)#$"#"'8%M)$)5#)*'&"*0*'8)';"&%)5#)*'D=)'"'$"G4'8)'=5"'<)*%L5'&)$)E$"<+'*%)5#)5'<"'
%5&<%5"&%L5'$);)5#%5"'"'$)"<%4"$'#"$)"*'8)'"$#%*#"+';"$"'<0'&="<'50'I"EG"5':0*#$"80'
"5#)$%0$:)5#)'5%5F=5"*'M"&=<#"8)*-'/*%:%*:0')*&$%E%L')<'<%E$0'@$(51*45&5"K+G'&"#*(+6'+&"+
N`N ?)##%5"'(=5&\)')5#$)7%*#"'"'!-f<0#)$8%\]')5'I##;1jjkkk-E00\M0$=:-&0:j"$&I%7)jM)E~B`j%58)U-I#:<
N`A ?Z?cZb+'c0E)$#'*-'2&+.'651*+/'%/&'3*-'/<E"+'?"$&)<05"'ABBJ
#<96<B;T596KT#4W@
@c(51"+;+'&+:'%'C%*'&05'*=*')U;)$%)&%"*')5')<'=*0'8)'<"':o*%&"')5')<'#$"#":%)5#0'8)'<0*'
)5M)$:0*f)F=%$'*058)"580'<"'<%#)$"#=$"'8)':_8%&0*'D=)'$)M<)U%05"5'M=)$"'8)<'^:E%#0')*;)&GM%&0'8)'<"'
&%)5&%"+'3')5#$"5')5'=5'^:E%#0'8)'$)M<)U%L5+'8)'&050&%:%)5#0'M%<0*LM%&0-'
f058)"$'^:E%#0*'8)'&0:=5%&"&%L5')5)$F_#%&"+'D=)'*)';$)*#"5'"'=5"')*M)$"'8)'I)&I0*'D=)'
"&#="<:)5#)'50'*"E):0*'&"<%M%&"$'*%50'8)'/"%"!*%."&'(K+&0:0'*05'<0*'#$"5*;<"5#)*'8)'
L$F"50*+')5'<0*'&="<)*')5'0&"*%05)*'<0*'$)&);#0$)*'"*=:)5'&"$"&#)$G*#%&"*'0'&0*#=:E$)*'8)<'
"5#%F=0';$0;%)#"$%0'8)<'L$F"50+')*;)&%"<:)5#)'&05')<'#$"5*;<"5#)'8)'&0$"4L5-'
9$)0'D=)')*#)'M)5L:)50+'D=)';0$'M"<#"'8)'=5'<)5F="])':^*')*;)&%"<%4"80'8)50:%5"$_'8)'
1*.$!58!+'!'%L,#51"+')*':"#)$%"';$%:"'8)<'"$#)g';0$')]):;<0+')5'M0$:"'8)'&";"&%8"8)*'
*%5)*#_*%&"*'8)<'"$#%*#"E*-!#0#G$*'$/F"FM3$
,)'<"':"50'8)<'&$)"80$'8)<'Kf,+'Q0M:"55+'0'8)'/<80=*'Q=U<)3')5'9"(+/$'%#"(+6'+&"+
/'%1'/158!K+8)*)0'*058)"$'&05':"30$';$0M=58%8"8')<':=580'8)'<0*')*#"80*'"<#)$"80*'8)'
&05&%)5&%"K"'%:"F)5'":;<%"8"'8)'=5'^&"$0'%:;$)*%05"+')*'%5&$)GE<)';)5*"$'D=)'50*'$)&0$$)5'*)$)*'
:%&$0*&L;%&0*'#"5'M)0*+'8)'M0$:"*'#"5'&05#=58)5#)*+'#"5':05*#$=0*"*-'
V"<'7)4':=&I0'"5#)*'8)'D=)')U%*#%)$"'<"';0*%E%<%8"8'8)'7)$<0*'&05'5=)*#$0*'";"$"#0*'L;#%&0*+'
"<F=%)5+'8)E%80'"'"<F=5"'<)*%L5'&)$)E$"<'0')5M)$:)8"8+'0';0$'=5"'"F=8%4"&%L5'8)'<"'7%*#"'8)'
&"$^&#)$')U#$"0$8%5"$%0+'0'#"<'7)4')5'=5'7%"])'"<'%5F)$%$'*=*#"5&%"*';*%&0"&#%7"*+'=5'8G"':%$L'*='
E$"40'3'7%0'=5"'7)$8"8)$"'*)<7"';0E<"8"';0$'%5M%5%#0*'*)$)*'"M"50*0*-'.5#05&)*'#$"#L'8)'
&0:=5%&"$<0+';)$0'5"8%)';=80'&$))$<)-'K0'$);$)*)5#L+'I%40'E0&)#0*+'3'<"'F)5#)';)5*L'D=)')$"'
"<F=%)5'&05'8):"*%"8"'%:"F%5"&%L5-'
>)'F=*#"$G"')5&05#$"$+'%8)5#%M%&"$+'";$)58)$'"'7)$')*"*':"5%M)*#"&%05)*'8)';0*%E%<%8"8)*'
M=#=$"*+'";"$)5#):)5#)'"E*=$8"*+'%:;0*%E<)*+'D=)';$)M)$%$G":0*'5)F"$-'.5&05#$"$'
:"5%M)*#"&%05)*'"$#G*#%&"*'7%*%05"$%"*';0$'8)*&=%80+')*0')*'<0'D=)':)'F=*#"$G"')5')<';$LU%:0'
;$0&)*0'8)'%57)*#%F"&%L5-
4WJ#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
E*-!#0#HF+!*
>"%'1'+-$'+&*(+"%#5(#"(+;+&*(+15'!#O451*(+#5'!'!+.?(+'!+1*.c!+6'+&*+-$'+$!*+
/*6%O"+/'!("%N+)5!L$!*+6'+&*(+6*(+("C'+&*+-$'+C$(1"K+;+".C*(+/"%#'!+1*!+
$!+\5#+6'+A'%%".5'!#"(+-$'+&'(+"/%*d5.'+"+'('+15'%#*+"&L*N^uY+
.<'"$#)+'"&#="<:)5#)+'&05#%5o"'*='&":%50'5L:"8"'3')*#^'$)&0$$%)580'3')U;)$%:)5#"580')5'
0#$0*'*)&#0$)*+'%5M%<#$^580*)')5'<"';=E<%&%8"8+')5')<'0&%0'8)'M":%<%"g'#":E%_5')5'^:E%#0*'8)'
;08)$+'&0:0'<0*'<"E0$"#0$%0*'8)'8)*"$$0<<0+'D=)';=)8)5';)$:%#%$*)'"&0F)$'"'"$#%*#"*'
8)8%&"80*'"')<)7"$'"<':^U%:0'<"*'&05*#$=&&%05)*'8)'*='%:"F%5"&%L5+'&05')<'M%5'8)')5&05#$"$'
*0<=&%05)*'=#%<%#"$%"*';"$"';$0E<):^#%&"*'8)';08)$';0<G#%&0'0':%<%#"$'eD=)+')5'$)"<%8"8+')*'
*%):;$)'&0:)$&%"<e65';$0F$":"')*;)&GM%&0')5')*#)'*)5#%80'*05'<"*'$)*%8)5&%"*'8)'"$#%*#"*'D=)';=*0')5':"$&I"'
<"'Y/f/')5')<'NCHA-',)*8)')5#05&)*'I"5';"$#%&%;"80':^*'8)'A`B'"$#%*#"*'":)$%&"50*')5')<'
;$0F$":"'8)'H%#5(#"+G'(56'!#'+6'+&"+)HFH+'&0:0'#)*#%F0*'8)':%*%05)*')*;"&%"<)*-'905')<'M%5'
8)'M=*%05"$'"$#)'3'&%)5&%"+'<0*'"$#%*#"*'I"5'80&=:)5#"80')<'#$"E"]0'8)'%5F)5%)$0*+'"*#$05"=#"*'
3'&%)5#GM%&0*.<';$03)&#0'H%#%"5!+jFH+;$)#)58)''!%5-$'1'%+5!65I56$*(+;+1*.$!56"6'(+"+#%"I,(+6'&+"%#'+'
;"$"'<0'D=)'I"';=)*#0'"'7%"]"$'<"'&0<)&&%L5'8)'"$#)'8)'<"'Y/f/'MH%#5(#%;+*4+F/"1'M+)5'=5'#$)5'
8=$"5#)'#$)*'"p0*';0$'/:_$%&"-'
R)$'<0*'*)&#0$)*'D=)'*)'*%$7)5'8)<'"$#)+')5#$)7)$'8L58)'I"3'"$#%*#"*'%5M%<#$"80*')5')*#":)5#0*'
8)';08)$+'8)'D=_'M0$:"'*)'%5M%<#$"')<'<)5F="])'8)<'"$#)')5'&=)*#%05)*'8)';08)$E*-!#0#,F/&!+$+
.5')<'^:E%#0'8)'<0'*0&%"<+'*)')*#^5'$)"<%4"580'5=:)$0*0*')*M=)$40*';0$';"$#)'8)'<"*'
%5*#%#=&%05)*'<0&"<)*';"$"'<"'8%7=<F"&%L5'8)<'"$#)+'<0'D=)'*%F5%M%&"'=5"'";0$#"&%L5'3'=5"'
N`S K"=$%)'/58)$*05'"&)$&"'8)'*='$)*%8)5&%"'8)'"$#%*#"')5'<"'Y/f/+')5'
I##;1jj:)"$":):)-k0$8;$)**-&0:jABBJjNNjBHj<"=$%)e"58)$*05ek0$\%5Fe"*e5"*"e$)*%8)5#e"$#%*#j
=$%!(+*$#+(15'!#5(#(+"!6+"%#5(#(+A"I'+"+&*#+.*%'+5!+1*..*!+#A"!+*!'+R*$&6+#A5!\N+)'5#A'%+*4+#A'.+\!*R(+
RA"#+5(+5#+#A';ƒ%'+&**\5!L+4*%+"!6+#A';+C*#A+(#"%#+*$#+R5#A+"+('#+*4+#**&(+"!6+#%;+#*+1*.'+1&*('%+#*R"%6(+#A"#+
1'%#"5!+(*.'#A5!LN
#<96<B;T596KT#4WI
8%M)$)5&%"'&="<%#"#%7"'$)*;)&#0'8)'I"&)'=50*';0&0*'"p0*+')5'<0'D=)'"'.*;"p"'0';"G*)*'8)<'
*=$'8)'.=$0;"'*)'$)M%)$).<'"$#)'*)'%5M%<#$"')5'<"'&=<#=$"';0;=<"$+'<"'<"E0$'D=)'7%)5)5'$)"<%4"580'<0*':=*)0*'8)'
";$0U%:"&%L5'"<'L%"!+/cC&51*+'8)'&05*#%#=%$*)')5'0M)$#"'7^<%8"';"$"'#08"'<"'M":%<%"+'
&0:;%#%)580'&05'<"'%58=*#$%"'8)<'0&%0';0;=<"$+'*%F5%M%&"$^'=5'&":E%0'&="<%#"#%70';"$"')<'"$#%*#"+'
)<':=*)0'3')<';oE<%&0ee
Y0'*_'D=_'#%;0'8)'#$"E"]0*')5&05#$"$_'"7"54"580'"'<0'<"$F0'8)')*#"*'<G5)"*+';)$0')<'M0&0'8)'
:%'%5#)$_*'<0'&05*#%#=3)5'&=)*#%05)*'"*0&%"8"*'"'M0$:"*'8)')5)$FG"*'3'8)'&050&%:%)5#0*'
M=)$"'8)'<LF%&"1'&05'<"')<)F"5&%"'&05'<"'D=)'<0'I"&)'<"'&%)5&%"+'";0*#"$';0$'M0$:"*'8)'
&050&%:%)5#0'D=)'7"5':^*'"<<^'8)'<0'D=)';08):0*'&0:;$)58)$-
A5AB59C8EVDE#X#4WS
A5AB59C8EVDE
!
/W/>?.Y+'W%0$F%0-'9*+"C5'%#*K+'&+A*.C%'+;+'&+"!5."&-'!$)eV)U#0*+'.*;"p"'ABBO
!
/cf6/W/+'@="5'K=%*-'9"+'(/'15'+'&'L5
+
+6"J+&"+&"%L"+."%1A"+6'+&"+'I*&$158!+A$."!"N
+
++
V):"*'8)'I03+'>"8$%8'ABBJ'
!
?/V/aKK.+'W)0$F)-'9"(1"$d+*+'&+!"15.5'!#*+6'&+"%#'+'/<&%L5+'9L$80E"'y/$F)5#%5"z'ABBS
!
?.cW.c+'@0I5-'fC('%I"#5*!K')5'H!5."&K+H!5."K+H!5.$(+'!0$%'/$#'>=*)=:+'(%5<"58'
NCCP-
!
?.cW.c+'@0I5-'[A;+&**\+"#+"!5."&(]K')5'H!5."&K+H!5."K+H!5.$(+'!0$%'/$#'>=*)=:'
(%5<"58'NCCP
!
9QZ>f[2+'Y0":-'j!6'%(#"!65!L+/*R'%-'R%5#"F)'ABBS
!
9a>>.c>/YY+'h7])48"5"g'/>>/Y+',"5%)<-'7"(+=5'%+5!+6'%+0'5#L'!„((5(1A'!+m$!(#N+
V%)$*&I=#47)$<"F+'hX$%&I'ABBA
!
,.K.6h.'3'W6/VV/ca-'@5&+.'('#"(K+1"/5#"&5(.*+;+'(-$50*4%'!5"+'!$)e#)U#0*-'.*;"p"'
ABBH
!
W-/W/>?.Y+'W-,.K.6h.+'Q->.KRaKK.g'@K-!/c,Z-'>%'4'%5%O"+!*+A"1'%&*K'!$)eV)U#0*+'
R"<)5&%"'ABBN
!
,a/>ZY,+'@"$)8-'H%."(K+L,%.'!'(+;+"1'%*+',)E"#)+'>"8$%8'ABBJ
!
,a/>ZY,+'@"$)8-'2&+#'%1'%+1A5./"!1,+',)E"#)+'.*;"p"'ABBO
!
+2&+&5C%*+6'+&"+D56"++')8-'f#);I)5'@"3'W0=<8-'9$G#%&"+'?"$&)<05"'NCCC'
!
(ZfV.c+'Q"<-'2&+"%#5(#"+'#!8L%"4*')5'2&+%'#*%!*+6'+&*+G'"&'/\"<+'>"8$%8'ABBN'
!
(ZfV.c+'Q"<-'=A'+V/%5.5#5I'W+$!1*!(15*$(+*4+.*6'%!+"%#K+*%+RA5#'+(\5!+C&"1\+."(\(N+
+
+T!
+ ++
G'1*%65!L(J+H%#K+(/'1#"1&'K+1$&#$%"&+/*&5#51(K+'65#'6+C;+B"&+Z*(#'%K+^o^MkeoN+?"3'!$)**-'
f)"##<)'NCCS'
!
(Z69/6KV+'>%&I)<-+2&+!"15.5'!#*+6'+&"+C5*/*&O#51"+J+:$%(*+'!+'&+:*&&•L'+6'+Z%"!1'+
P^_`oM^_`_QN'(0580'8)'9=<#=$"'.&05L:%&"+'>_U%&0'ABBJ'
!
(Z69/6KV+'>%&I)<-'9*(+"!*%."&'('/\"<+'>"8$%8'ABBN
!
(Z69/6KV+'>%&I)<-'9"(+/"&"C%"(+;+&"(+1*("(K+$!"+"%-$'*&*LO"+6'+&"(+15'!15"(+A$."!"(N+
f%F<0'R)%5#%=50+'>"8$%8'ABBH'
!
+T!#'%('1#5*!(N+H#+#A'+:%*((%*"6(+*4+#A'+>%*6$1#5*!+*4+m!*R&'6L'K+>%'1"%5#;K+F$C3$L"#5*!+ +
"!6+#A'+G'1*!(#%$1#5*!+*4+B5(#*%;K+75(/&";+"!6+7'M&5!\5!L-'Ki&\)$+'R%)5"'ABBC
4W?#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
!
WZZ,/KK+'@"5)-'9*(+65'0+."!6".5'!#*(+/"%"+1*./"%#5%+'&+/&"!'#"+1*!+&*(+"!5."&'(-'
!"%8L*'?"$&)<05"'ABBS
!
WZZ,/KK+'@"5)-'•%"15"(+"+&"+I56"N',)?0<*%<<0+'?"$&)<05"'ABBS'
!
Q€KK.c+'9"$*#)5'=58'VcZ9[.K+'c0*):"$%)+'25!+B"$(+4U%+F1AR'5!'+$!6+@'!(1A'!-'
R)$<"F'8)$'?=&II"58<=5F'b"<#I)$'[i5%F+'[i<5'NCCJ-
!
[6chb.aK+'c"3-'=A'+(5!L$&"%5#;+
+
+5(+!'"%
+
+-'R%\%5F'!)5F=%5+'K05805'ABB`
!
K†RaefVc/6ff+'9<"=8)-'2&+/'!(".5'!#*+("&I"3'+'(0580'8)'9=<#=$"'.&05L:%&"+'>_U%&0'
NCPJ
!
>/9QZ+'VI0:"*-'H$4(#"!6+6'%+B"$(#5'%'+')5'B'%"$(4*%6'%$!L+=5'%+J+I*!+S'$;(+C5(+
m"C"\*IN'!$)*#)<+'>X5&I)5+'Y)k'20$\'ABBB
!
>/cW6Kaf+'K355-'>&"!'#"+(5.C58#51*J+
+
+$!+!$'I*+/$!#*+6'+I5(#"+(*C%'+&"+'I*&$158!N
+
++
,)E"#)+'?"$&)<05"'ABBA'
!
!aY[ZK/'.fV.f+'9<"$%**"-'@$3'%'(+-$'+1*%%'!+1*!+&*(+&*C*(+'.8%&%05)*'?+'?"$&)<05"'
ABBP
!
!6Yf.V+'.8="$8-'2&+"&."+'(#?+'!+'&+1'%'C%*+J+%"65*L%"4O"+6'+&"+.?-$5!"+6'+/'!("%-'
/F=%<"$+'>"8$%8'ABBJ
!
f/9[f+'Z<%7)$-'j!+"!#%*/8&*L*+'!+."%#'-'/5"F$":"+'.*;"p"'NCC`
!
f/W/Y+'9"$<-':*(.*(N'!<"5)#"+'?"$&)<05"'ABBH
!
f/>!.,cZ+'@"7%)$-'r:*!+-$,+($'b"!+&"(+.*(1"(]K+.*;"p"+')8-'/F=%<"$+'ABBO
!
f/>!.,cZ+'@"7%)$-'7'1*!(#%$;'!6*+"+7"%R5!+'9$G#%&"'ABBA
!
f.cc.f+'>%&I)<-'2&+1*!#%"#*+!"#$%"&-'!$)e#)U#0*+'R"<)5&%"'NCCN
!
fKZV.c,a@['+'!)#)$-'2!+'&+.5(.*+C"%1*-'f%$=)<"+'.*;"p"'NCCC
!
fKZV.c,a@[+'!)#)$-'2(4'%"(+T-'f%$=)<"+'.*;"p"'ABBS
!
fKZV.c,a@['+'!)#)$-')*%."(+/"%"+'&+/"%-$'+A$."!*N'.8%&%05)*'f%$=)<"+'>"8$%8'ABBH'
!
fZK/Yf'!%)8"8+'H115*!5(.*+D5'!,(N'Y)$)"+'&0;-'Q058"$$%E%"'yW=%;o4&0"z'ABBB'
!
fV.c9[{+'!%)$$)-'9'+6'I'!5%M1*1A*!+6'+[5.+7'&I*;'+'?_<F%&"+'K"'<)##$)'70<_)+'ABBJ
!
fh..>/YY-'Q"$"<8-'?)=3*50E%*&=:+')%5)'\<)%5)'2!0;\&*/n8%)'!I%<0'‰'!I%<0'(%5)'/$#*+'
NCCJ'
!
RaZK/+'?%<<-'G'"(*!(+4*%+\!*1\5!L+*!+"!+2./#;+B*$('N+[%5#5!L(+^_`Y+E+^__a-'VI":)*'
"58'Q=8*05+'K058$)*'NCC`
A5AB59C8EVDE#X#4WO
!
h6VV.c+'@i$F-'B$."!+)"#$%'K+H!5."&+)"#$%'+')5'?c69.'Y/6>/Y+'F1$&/#$%'(+"!6+
T!(#"&&"#5*!(+^_ou+E+^__eK'K"=*"55)+'>=*_)'8)*'?)"=U'/$#*+'NCCN
:&//&F%$*&F,
!
(.cc/V.c'>Zc/+'@0*_-'75115*!"%5*+6'+Z5&*(*4O"+6'+C*&(5&&*N'/<%"54"'.8%#0$%"<+'>"8$%8'
ABBA
B&-!*$-)*$
!
/6fV.c+'!"=<-'=*.C$1#c-'/5"F$":"+'?"$&)<05"'ABBJ'
!
?.cW.c+'@0I5-'7'+($(+4"#5L"(J+>$'%1"+#5'%%"-'/<M"F="$"+'ABBHg'j!"+I'0+'!+2$%*/"-'
/<M"F="$"+'ABBBg'95&"+;+Z&"LN'/<M"F="$"+'NCCA'
!
9ca9QVZY+'>%&I")<-')'d#-'!<"4"'‰'@"5_*+'?"$&)<05"'ABBJ'
!
[/([/+'($"54-'@'#".*%4*(5(-'>"8$%8+'9^#)8$"'ABBH
!
[/([/+'($"54-'T!I'(#5L"15*!'(+6'+$!+/'%%*X+2&+#*/*+L5L"!#'+')5'9"+.$%"&&"+1A5!"N+
>"8$%8+'/<%"54"'NCCB
!
>.KRaKK.+'Q)$:"5-'@*C;+751\N'/\"<+'>"8$%8'ABBJ
!
Zcb.KK+'W)0$F)-')5!'#''!+'5LA#;M4*$%+'H!5."&+Z"%.+')5'•'*%L'+f%R'&&J+=A'+:*./&'#'+
)*I'&(N'K05805+'!)5F=%5'9<"**%&*'ABBB
!
f.K(+'b%<<-'•%"!6'+F5.5*(-'/5"F$":"+'?"$&)<05"'ABBB
!
bZK(+'R%$F%5%"-'9"(+*&"(-'9^#)8$"+'>"8$%8'ABB`'
<$-N"FMF,
!
+H!5."&K+H!5."K+H!5.$(++'(%5<"58'!0$%'/$#'>=*)=:'NCCP
!
+H%#+4%*.+#A'+jm+-'f"::<=5F'W0)#4+'>=5%&I'NCCJ
!
+S'1*.5!L+H!5."&K+:*!#'./*%"%;+H%#+5!+#A'+"!5."&+m5!L6*.+'-'>/ff'>Z9/'ABB`-
!
+S%$1'+)"$."!K+@"//5!L+#A'+(#$65*+K+["**)<+'>=*)=:'MX$'W)F)5k"$#*\=5*#+'?"*)<'ABBA
!
+S%$1'+)"$."!K+)'*!(K+F1$&/#$%'(K+7%"R5!L(++'7"5'8)$'b)FI)'(%5)'/$#+'Y3'ABBA
!
+S%$1'+)"$."!K+F1$&/#$%'(+"!6+T!(#"&&"#5*!(+^_ou+E+^__e+K+K"=*"55)+'>=*_)'8)*'?)"=U'
/$#*+'NCCN
!
+S%$1'+)"$."!K+=A'"#'%(+*4+'d/'%5'!1'++',)=#*&I)'W=FF)5I)%:+'?)$<%5+'ABBS
4W[#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
!
+S%$1'+)"$."!+J+Ye+6'+!*I5'.C%'+6'+^__YMk^+6'+4'C%'%*+6'+^__aK+@$('*+)"15*!"&+ +
:'!#%*+6'+H%#'+G'5!"+F*4O"K'>=*)0'Y"&%05"<'9)5#$0'8)'/$#)'c)%5"'f0MG"+'>"8$%8'NCCS
!
+7*$L&"(+•*%6*!J+=5.'&5!'+-'VI)'>=*)=:'0M'>08)$5'/$#+'Y)k'20$\'ABBH'
!
+Z5'%1'+4%5'!6(J+H%#5(#(+…+"!5."&(+5!+#A'+T!6$(#%5"&+2%"K+^`ueM^_ee+++NR"5'W0FI'>=*)=:j
>)$$)<<'!=E<%*I)$*+'/:*#)$8":'ABB`
!
+B'%"$(4*%6'%$!L+=5'%N+D*!+S'$;(+S5(+m"C"\*IN+'>X5&I)5+'K05805+'Y)k'20$\+'!$)*#)<'
R)$<"F+'ABBB
!
+w*('/A+S'$;(K+:*;*#'++'9"$0<%5)'V%*8"<<-'f&I%$:)$+'>0*)<+'>X5&I)5'NCPP'
!
+w*('/A+S'$;(+J+75'+H\#5*!'!+-'6k)'f&I5))8)-'R)$<"F'W)$8'Q"#])+'f#=##F"$#'NCCO'
!
[.KK.2+'>%\)-'=A'+j!1"!!;-'b"<#I)$'[i5%F+'[i<5'ABBO
!
[6Ka[+'Z<)F-+f&'L+m$&5\N+V)5A5&+5!+A$."!$.+"."+"&5'!$.+/$#*V+P)*#A5!L+5!A$."!+5(+"&5'!+
#*+.'Q+')8%#)8'E3'>%<"'?$)8%\I%5"+'/<)U"58$"'ZE=\I07"-'[)$E)$'R)$<"F'ABBJ
!
+9*(+"!5."&'(+'!+&"+15'!15"+;+'!+&"+I56"+A$."!"N+T&$(#%"15*!'(+0**&8L51"(+6'+$!+.5&'!5*+ +
P(5L&*(+gTMggQK+(=58"&%L5'?"5&"]"+'ABBN
!
+@"%5'+w*('+S$%\5+-'K05805+'9":8)5'/$#*'9)5#$)g'?055+'?055)$'[=5*#7)$)%5g'Z8)5*)+'
[=5*#I"<<)5'?$"58#*'[<")8)M"E$%\g'f#=##F"$#+'b=$##):E)$F%*&I)$'[=5*#7)$)%5+'&0;-'NCCP'
!
+@"%\+75*!++'!I"%805'!$)**'K%:%#)8+'K05805'NCCJ
!
+@"%\+75*!N+=A'+)"#$%"&+B5(#*%;+*4+#A'+@$('$.N+'/$&I%E00\*+'!"$%*'ABBJ
!
+@51A"'&+w**+o`+E+e`N+9*!6*!K+f#A'%+:%5#'%5"+kee`+
!
+>&'"('+/";+H##'!#5*!K+/&'"('J+S%$1'+)"$."!x(+R*%6(K+'9":E$%8F)+'>aV'!$)**+'ABBS-
!
+G*!+@$'1\+-++•G22D2FK+F$("!!"K+[T••T)FK+:*&5!N+Y"#%05"<'W"<<)$3'90:;"53-'K05805'
ABBS
!
+=A'+!'R+!'$%*#51+%'"&5(.+-'f""#&I%'W"<<)$3'!=E<%&#"%05*-'K05805'NCCP
7*$Y$cF,#+!#5%R!,-&M$/&\%
!
/KZYfZ+'K0$)#0-'j!"+/%*6$1158!+1$&#$%"&+65(#%"O6"K+6'(*C'65'!#'K+'!+/%'1"%5*+'+
5!I'%#'C%"6"N+H!?&5(5(+6'+"&L$!"(+/%?1#51"(+"%#O(#51"(+'!+&"+"1#$"&56"6-'V)*%*',0&#0$"<+'
65%7)$*%8"8'90:;<=#)5*)+'("&=<#"8'8)'?)<<"*'/$#)*+'ABBP'y*%5';=E<%&"$z
!
(/[aY.c+'Y%\)-'9"+.5%"6"+1&O!51"-',-.-/'65%7)$*%8"8'90:;<=#)5*)+'("&=<#"8'8)'?)<<"*'
/$#)*'ABBJ'y*%5';=E<%&"$z-
A5AB59C8EVDE#X#4WU
!
8!R&,-$,
!
/ccQ.Ya6f+'f"$"-'m*..+!†A'%N+75'+T!#5.5#†#+6'(+F1A"$'!(+5!+6'%+m$!(#+I*!+75"!"+
=A"#'%N'!"$\)##'5‡'HB+'hX$%&I+'Y)k'20$\+'($"5\M=$#'ABBB
!
9ZZ[.+'K355)-'75"!"+=A"#'%J+‡C'%+6'!+f%#N'!"$\)##+'5‡'`H+'hX$%&I+'Y)k'20$\+'($"5\M=$#'
NCCC
!
+l2!+-$,+/5'!("!+&*(+"!5."&'(]+'Y"#%05"<'W)0F$";I%&'.*;"p"-'>"$40'ABBP
!
.f9ZQZV/,Z+'/5#05%0-'2&+'(/O%5#$+1*.*+!"#$%"&'0"X+'!#%'I5(#"+1*!+B*4."!!N'.<'
!"*)"5#)'5‡'NS+'NCPC
!
WaK?.cVecZK(.+'@)$):3N+["(('%K+F*!!'+$!6+6'!\'!6'+m„%/'%-'!"$\)##'5‡'HB+'hX$%&I+'
Y)k'20$\+'($"5\M=$#'ABBB
!
Q/fKaYW.c+'c)F%5"-'75'+2%5!!'%$!L+6'%+m$!(#+"!+6"(+=5'%N'!"$\)##'5‡'HB+'hX$%&I+'Y)k'
20$\+'($"5\M=$#'ABBB'
!
@/2'WZ6K,+'f#);I)5-'>%*/$'(#"(+/"%"+$!"+!$'I"+#'*%O"+L'!'%"&+6'+&"+'I*&$158!N'.<'
!"*)"5#)'5‡'NS+'NCPC
!
2Z6YW?KZZ,'+'W)5)-'@'#"/A;(51"&+(#%$1#$%"&5(.K+=A'+D56'*#"/'(+*4+S5&&+D5*&"-'
>%<<)55%=:'(%<:'@0=$5"<'yY)k'20$\z'50-'ABjAN'yM"<<jk%5#)$'NCPPTPCz+';;-'PBTNNO-'(%$*#'
;=E<%*I)8'=58)$'*":)'#%#<)'M0$'#I)'<"*)$e8%*&')8%#%05'0M'?%<<'R%0<"1'f)<)&#)8'b0$\*-'K0*'
/5F)<)*1'R03"F)$+'NCPJ-'
f)';=)8)'8)*&"$F"$')5'M0$:"#0'-;8M'8)1'
I##;1jjkkk-7"*=<\"-0$Fj"$&I%7)j!=E<%&"#%05*j(0$:"##)8!=E<%&"#%05*jR%0<"-;8M
!
h/6Yf9Qac>+'VI0:"*-'T.+<**+6'%+m$!(#+TK+TTN'[=5*#M0$=:'a5#)$5"#%05"<+'5‡'NJO'@"5="$j
>n$4'5‡'NJ`'/;$%<j>"%'ABB`-
e!"3/)"$,#h#R3+!F,
!
9cZY.Y?6cW+'7"I56N+9"+.*(1"+NCPH
!
K2Y9Q+',"7%8-'2&+A*.C%'+'&'4"!#''NCPB
!
RaZK/+'?%<<-'T+6*!x#+\!*R+RA"#+5#+5(+T+".+&5\'K'RG8)0'CB':%5-NCPH'
!
f9ZVV+'c%8<)3-'S&"6'+G$!!'%+'NCPA
44W#X#!"#$%&'$"(#)*+,-#.&,%.&$-#%$+/*$",0$#1#',%+,#2#',%+&*$3
5%-!*%!!
9ca9[+'($"5&%*-'I##;1jjkkk-5"#=$)-&0:j5"#=$)jM0&=*j&$%&\j
!
@/2'WZ6K,+'f#);I)5-'I##;1jjkkk-*#);I)5]"3F0=<8-0$Fj
!
[/9+'.8="$801'I##;1jjkkk-)\"&-0$Fj
!
[6chb.aK+'c"3-'I##;1jjkkk-\=$4k)%<"%-5)#j
.5#$)7%*#"'"'[=$4k)%<')5'I##;1jjkkk-*:"$#;<"5)#-)*j$)8)*E<0Fjs;•PBl:0$)ePB
!
>/cW6Kaf+'K355'"58'f/W/Y+',ZcaZY-'F'1*!6+)"#$%'+)5
I##;1jjkkk-=:"**-)8=j=:"**:"Fj"$&I%7)*jNCCCjM"<<~CCjM"<<CC~M~A585"#=$)-I#:<
!
c.,.f+'I##;1jjkkk-*:"$#;<"5)#-)*j$)8)*E<0Fj
!
f/W/Y+'9"$<-'I##;1jjkkk-&"$<*"F"5-&0:j
!
fa>f+'["$<1'I##;1jjkkk-\"$<*%:*-&0:j
!
fV.K/c91'I##;1jjkkk-*#)<"$&-7"-&0:-"=j
!
f2>?aZVa9/1'I##;1jjkkk-*3:E%0#%&"-=k"-)8=-"=j
.<':"#)$%"<'8)'$)M)$)5&%"'8)')*#)'#$"E"]0'8)'%57)*#%F"&%L5'*)';=)8)'&05*=<#"$')5'M0$:"#0'
8%F%#"<'y5!#'%4"1'+6'+5!I'(#5L"158!Q')51
I##;1jjkkk-8)"-:%*)<7"-0$Fj
Descargar