ANNUAL REPORT 2025 PDF Free Download

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ANNUAL REPORT 2025 PDF Free Download

ANNUAL REPORT 2025 PDF free Download. Think more deeply and widely.

“We are a company in motion:

more transparent, more

accountable and more

committed than ever to

delivering excellence for

our customers, partners,

employees and shareholders.”

Raul Fernandez

President and Chief Executive

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To our

shareholders

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our focus, reigniting our culture and restoring

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growth. We are a company in motion: more

transparent, more accountable and more committed

than ever to delivering excellence for our customers,

partners, employees and shareholders.

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Over the past year, I personally met with more than

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consistently underscored the critical, high-value work

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customers to do more with us. We work with some

of the world’s leading brands, where we bring our

global scale and local excellence. A standout example

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and to deliver on exceptional experiences for more

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win is a strong endorsement of our capabilities and

customer-centric execution.

We are an indispensable partner to our clients,

building solutions that move industries and

businesses forward. Our engineers, designers and

consultants help clients innovate across industries.

Whether we’re helping airlines ensure a smooth

passenger experience or empowering manufacturers

to streamline factory operations and monitor their

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powers the critical systems and experiences that keep

modern business moving.

Building a culture of accountability and speed

At the heart of our transformation is a cultural

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adapts. I’ve held dozens of in-person town

halls, increased the cadence of internal

broadcasts and focused on strengthening

transparency and two-way communication.

We’ve added over 20 new senior leaders with

deep operational and domain expertise, and

together we’ve infused the company with a

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accountability, intensity and a shared sense

of urgency to win.

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key commercial capabilities, including sales

execution, quota design and implementation,

and performance management.

Expanding our ecosystem

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relationships with global partners to create

new opportunities and extend our reach. By

teaming with the right ecosystem players

who share our commitment to innovation

and execution, we are extending our pipeline

and deepening our relevance in key growth

markets. We’ve strengthened our partnerships

with ServiceNow, SAP, Microsoft, Amazon Web

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several others to bring joint modern solutions

to market.

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across our ecosystem, and we’re committed

to growing that number to meet the evolving

needs of our clients.

We also increased our presence with industry

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the following:

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and Solutions 2025

• Everest Group Individual Life Insurance

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Assessment 2025: North America

• ISG Provider Lens™ AWS Ecosystem Partners 2024

Service delivery excellence

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In our Global Infrastructure Services segment, we

saw an industry-leading net promoter score, which

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relationships. Our Intelligent Operations approach,

which blends human expertise with AI-powered

automation, is driving better outcomes at scale.

Deep industry expertise

In industries such as insurance, automotive,

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• In our Insurance Software & Business Process

Services business, we’re building SaaS-based

solutions that are transforming how our

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top 25 insurers and 80% of Fortune Global 500

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We serve over 1,000 insurance clients and

process more than 1 billion policies.

• Eight of the 10 largest automakers in the world

trust us to improve the driving experience, with

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deposit accounts, processing 275 million card

transactions daily for more than 450 banks globally.

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life sciences customers around the globe

and has supported more than 1,000 digital

transformation projects for leading U.S. health

systems and health plans.

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companies with end-to-end capabilities across

cloud managed services, consulting and

engineering, applications, security, modern

workplace services and insurance software.

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Accelerating innovation and growth

We are transforming our technical capabilities

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Engineering Services business is embedding AI

and generative AI into client solutions, driving

greater adoption of our enterprise solutions.

No longer just a concept, AI is now core to

how we deliver value and outcomes for our

customers. From reducing development cycles

to improving technical support outcomes, we’re

using AI to power real results, today.

For example, we launched DXC Assure BPM,

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Assure BPM automates over a thousand manual

tasks, from policy administration and billing

to underwriting, fraud detection, and claims

management. By clearing out legacy processes

and simplifying operations, the solution can slash

operational costs by up to 40%, empowering

insurers to move faster and smarter.

We also introduced DXC AI Workbench to help

clients quickly build, deploy and scale powerful

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faster impact and total control over security and

costs. Ferrovial, a global leader in infrastructure,

is already using AI Workbench to drive real-

time decisions with over 30 active AI agents,

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decision making for its 24,000 employees.

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Our strategy is grounded in disciplined

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bookings by nearly 7%, drove our book-to-bill

Raul Fernandez

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margin, strengthened our balance sheet and

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Fiscal year 2025 highlights include the

following:*

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year over year; down 4.6% organically)

• Global Business Services revenue:

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down 1.0% organically)

• Global Infrastructure Services revenue:

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down 8.2% organically)

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Looking ahead

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capabilities, loyal customers and a deep bench

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year 2026, we will continue to sharpen our

execution, double down on innovation and focus

relentlessly on performance.

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coordinated team, moving with purpose, breaking

down silos and building something truly enduring.

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We’re moving companies and

industries forward

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help them solve complex problems, unlock innovation and prepare for what’s next.

We partner with airlinesDWHYHU\VWHSRIWKHMRXUQH\VRWKH\FDQNHHSȵ\LQJ:HKHOSinsurance

companies automate and streamline the claims process. We make it easy for banks to spot trouble

and safeguard their customers. And we ease the path to fully connected cars.

Here are some of the many ways we’re delighting clients at every turn:

We’re improving travel above

and below the wing

Flying nearly 5K planes each day across the

globe while carrying ~500K passengers is

a daunting task. That’s why United Airlines

is both modernizing core infrastructure so

that critical operations run smoothly and

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information, managing schedules for pilots and

crew, and keeping airline passengers connected

and informed during every step of the journey.

We’re elevating the driving experience

Human–machine interfaces are revolutionizing

the way we interact with our cars. Ferrari’s

F80 supercar uses new HMI software that

makes its in-car dashboards simpler and

faster. We’re also helping Ferrari ensure that

its systems have the agility to keep up with

today’s pace of innovation.

We’re keeping energy production

on track

Managing workforce data, operations

and production is a challenge for any

organization. After acquiring two mine sites,

the Australian coal producer Whitehaven

successfully transitioned 2,200+ workers

and 150+ applications and fully deployed

an SAP system to keep operations running

smoothly within a record six months.

We’re providing an on-ramp

to the cloud

Insurers everywhere face the challenge of

modernizing legacy systems to accelerate

their business, while also optimizing

operations. DXC Assure Platform,

for Lincoln Financial to transform its

insurance applications to thrive in the

cloud. The result: a 60% reduction in

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30% cycle-time reduction to help meet

customer demand.

We’re enabling smooth sailing

for every journey

Creating unforgettable vacation

experiences depends on smooth

operations behind the scenes.

To enhance the experience of more

than 6 million guests each year,

Carnival Cruise Line is modernizing

its core technology infrastructure to

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connected experiences across

every touchpoint.

We’re using AI agents to improve

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Construction projects are often

complex, with tight margins,

intricate logistics and critical safety

requirements. Infrastructure company

Ferrovial used the DXC AI Workbench

platform to deploy more than 30 AI

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employee safety.

We’re turning merger challenges

into modernization opportunities

Mergers can supercharge productivity and

drive powerful synergies, but success

hinges on bringing operations together

under a shared vision. When two U.S.

grocery giants merged to form Northeast

Grocery, the new company was able to

extend the life of its critical infrastructure,

streamline systems and unlock $40 million

in savings — while positioning itself to

embrace next-generation technologies.

We’re automating critical and

repetitive tasks

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small with AI and then scaling up as they

see results over time. A good example is the

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Equitable Holdings, which replaced an

expiring chatbot in just 30 days with one that

made it easy for human agents to respond

more accurately and faster (by 80%) to

customer inquiries by analyzing thousands of

documents in minutes.

Learn more: dxc.com/pivotal-moments

We’re taking AI to

new heights

AI is a game changer on the ground

and in outer space. To support

its data-intensive research, the

European Space Agency (ESA)

launched ASK ESA, a generative AI

platform that gives engineers quicker,

easier access to information they

need to accelerate Earth and

climate research.

We’re shaping the future

of patient care

Ensuring that the right patients receive

antibiotics in a timely manner is a challenge

for healthcare organizations. But soon

doctors will be able to use AI to personalize

antibiotic prescriptions with just a few

mouse clicks as part of a tool developed

with Singapore General Hospital that

empowers doctors to make critical decisions

on antibiotic use 90% of the time.

Recognition

highlights

Raul Fernandez

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David Barnes

Former Senior Vice President, Chief

Information and Global Business Services

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Anthony Gonzalez

Former U.S. Congressman in the United

States House of Representatives and

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Cobalt Service Partners

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Graham Holdings Company

Karl Racine

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of Columbia and current Partner at

Hogan Lovells

David Herzog

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Executive Vice President of AIG

Dawn Rogers

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Securities LLC and former Executive Vice

President and Chief Human Resources

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Former Interim Executive Chair of the

Board of the Ascena Retail Group, former

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member of the Board of Amer Sports

Kiko Washington

Former Executive Vice President of

Worldwide Human Resources for Warner

Bros. Entertainment

Robert Woods

Former Senior Vice President and

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Systems Inc.

DXC Technology

Board of Directors

DXC stockholder information

Stock Information

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the New York Stock Exchange. As of June 2, 2025,

there were 181,810,180 shares of common stock

outstanding and 34,197 stockholders of record.

Transfer Agent and Registrar

All inquiries concerning registered stockholder

accounts and stock transfer matters, including

address changes and consolidation of multiple

accounts, should be directed to EQ Shareowner

6HUYLFHV';&ȇVWUDQVIHUDJHQWDQGUHJLVWUDU

Stockholder Correspondence

Regular mail:

EQ Shareowner Services

P.O. Box 64874

St. Paul, MN 55164-0874

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EQ Shareowner Services

1110 Centre Pointe Curve, Suite 101

Mendota Heights, MN 55120-4100

www.shareowneronline.com

By phone:

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For all other international locations, please refer to

www.shareowneronline.com for instructions.

Financial Community Information

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analysts and portfolio managers can submit written

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Ashburn, VA 20147

investor.relations@dxc.com

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Statement, Annual Report and other materials,

log on to www.proxyvote.com.

DXC Website

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https://investors.dxc.com/investor-relations, including

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SEC, which are available free of charge.

Annual Meeting

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July 22, 2025, at 10:30 a.m. Eastern time and will be

a virtual meeting conducted via live webcast. Attend

the meeting online and submit your questions during

the meeting by visiting:

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the 16-digit control number included on your notice

of Internet availability of the proxy materials, on your

proxy card or on the instructions that accompany

your proxy materials.

Independent Auditors

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McLean, VA 22102

Forward-Looking Statements

All statements in this annual report that do not

directly and exclusively relate to historical facts

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statements represent current expectations and

beliefs, and no assurance can be given that the

results described in such statements will be

achieved. Such statements are subject to numerous

assumptions, risks, uncertainties and other factors

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those described in such statements, many of which

are outside of our control. For a written description

of these factors, see the section titled “Risk Factors”

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year ended March 31, 2025, and any updating

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No assurance can be given that any goal or plan set

forth in any forward-looking statement can or will

be achieved, and readers are cautioned not to place

undue reliance on such statements which speak only

as of the date they are made. We do not undertake

any obligation to update or release any revisions

to any forward-looking statement or to report any

events or circumstances after the date of this annual

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events, except as required by law.

LQPLOOLRQV FY25 FY24

Net income  

Income tax expense 234 23

Interest income  

Interest expense 265 298

(%Ζ7 696 193

Restructuring costs 153 111

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Amortization of acquired intangible assets 348 354

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Gains on disposition of businesses  

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Impairment losses 17 5

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Net income margin 3.1% 0.6%

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W 0:B6N;6>AID688JG6I:AN:HI>B6I:I=:8DHID;H:GK>8:H6C9I=:I>B:A>C:;DG8DBEA:I>DCD;8DCIG68IH

W 0:DGDJGI=>G9E6GI>:HB6N;6>AID9:A>K:GDC8DBB>IB:CIHDGDI=:GL>H:7G:68=D7A><6I>DCHIDDJG8JHIDB:GH

W 0:6G:HJ7?:8IID6H:G>:HD;G>H@HG:A6I>C<ID8A>B6I:8=6C<:6C9C6IJG6A9>H6HI:GH6C9>C8G:6H:9H8GJI>CND;6C9

:KDAK>C<:ME:8I6I>DCH;DGHJHI6>C67>A>IN6C9, >C>I>6I>K:H8DJA96AHD69K:GH:AN>BE68IDJG7JH>C:HH

W 0:B6N;6>AID6IIG68I6C9G:I6>CFJ6A>;>:9E:GHDCC:A

W )GDADC<:9E:G>D9HD;>C;A6I>DC=6K:6C69K:GH::;;:8IDC<:C:G6A:8DCDB>88DC9>I>DCH6C98DCHJB:G7J9<:I>C<

6C98DJA969K:GH:AN>BE68IDJGEGD;>I67>A>IN6C9G:HJAIHD;DE:G6I>DCH

W (JG>CI:GC6I>DC6ADE:G6I>DCH6G::MEDH:9IDG>H@H>C8AJ9>C<;AJ8IJ6I>DCH>C:M8=6C<:G6I:H



W 6>AJG:ID8DBEANL>I=;:9:G6AHI6I:AD86A6C9;DG:><CA6LH6C9G:<JA6I>DCH8DJA9G:HJAI>C8DHIHDGH6C8I>DCHI=6I

69K:GH:AN6;;:8IDJG7JH>C:HH,D8>6A6C9:CK>GDCB:CI6AG:HEDCH>7>A>ING:<JA6I>DCHEDA>8>:H6C9EGDK>H>DCH6HL:AA

6H8JHIDB:G6C9>CK:HIDG9:B6C9HB6N69K:GH:AN6;;:8IDJGG:A6I>DCH=>EHL>I=8JHIDB:GH6C9>CK:HIDGH

W (JGG:HIGJ8IJG>C<EA6CHB6NCDI7:C:;>IJH6C9B6N69K:GH:AN6;;:8IDJG7JH>C:HH

W 0:B6N7:HJ7?:8IID>CI:AA:8IJ6AEGDE:GING:A6I:9G>H@H6C9B6N;6>AIDEGD8JG:C:8:HH6GNI=>G9E6GINA>8:CH:H

W >HGJEI>DCD;DJGHJEEAN8=6>CDG>C8G:6H:H>CEGD8JG:B:CI8DHIH>C8AJ9>C<6H6G:HJAID;DC<D>C<IG69:I:CH>DCH

6C9I6G>;;8=6G<:H8DJA969K:GH:AN>BE68IDJG7JH>C:HH

W 0:B6N;6>AIDB6>CI6>C:;;:8I>K:9>H8ADHJG:8DCIGDAH6C9>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<

W 0:8DJA9HJ;;:G699>I>DC6AADHH:H9J:ID6HH:I>BE6>GB:CI8=6G<:H

W 0:B6N;6>AIDE6N9>K>9:C9HDGG:EJG8=6H:H=6G:HD;DJG8DBBDCHID8@

W ):C9>C<A>I><6I>DCHB6N=6K:6B6I:G>6A6C969K:GH:>BE68IDCDJGEGD;>I67>A>IN6C9A>FJ>9>IN

W >HGJEI>DCH>CI=:8G:9>IB6G@:IHB6NG:9J8:DJG8JHIDB:GH688:HHID8G:9>I6C9>C8G:6H:I=:8DHIHIDDJG

8JHIDB:GHD;D7I6>C>C<8G:9>I6C9DJG=:9<>C<EGD<G6B>HHJ7?:8IID8DJCI:GE6GIN9:;6JAIG>H@

W 0:B6NCDI68=>:K:G:K:CJ:6C9EGD;>ID7?:8I>K:H>;L:;6>AID8DBE:I>I>K:AN7>9DCDJGEGD?:8IH:;;:8I>K:AN

W ";DJG8JHIDB:GH:ME:G>:C8:;>C6C8>6A9>;;>8JAI>:HL:B6NCDI7:67A:ID8DAA:8IDJGG:8:>K67A:H

W 0:B6N;6>AIDB6>CI6>C6C9<GDLDJG8JHIDB:GG:A6I>DCH=>EHDK:GI>B:DGID8DBEANL>I=8JHIDB:G8DCIG68IHDG

<DK:GCB:CI8DCIG68I>C<G:<JA6I>DCHDGG:FJ>G:B:CIH

W (JGHIG6I:<>8IG6CH68I>DCHB6NEGDK:JCHJ88:HH;JA

W =6C<:H>CI6MG6I:HI6MA6LH6C9JC8:GI6>CIND;I6M:M6B>C6I>DCH8DJA96;;:8IDJGG:HJAIHD;DE:G6I>DCH

W -=:EG>8:D;DJGH:8JG>I>:HB6N7:KDA6I>A:

"1;3;"-4)<-,<7 =:7584-<-,#<:)<-/1+$:)6;)+<176;

W 0:8DJA9=6K:6C>C9:BC>;>86I>DCD7A><6I>DCID!)>;I=:HID8@9>HIG>7JI>DC>C8DCC:8I>DCL>I=I=:!),7JH>C:HH

H:E6G6I>DCL:G:9:I:GB>C:9CDIIDFJ6A>;N;DGI6M;G::IG:6IB:CI

W ";I=:!),&:G<:G9D:HCDIFJ6A>;N6H6G:DG<6C>O6I>DCJC9:G,:8I>DC6D;I=:D9:,H;DGB:G

HID8@=DA9:GHB6N>C8JGH><C>;>86CII6MA>67>A>I>:H

W -=:.,),,:E6G6I>DC6C9&:G<:GH6C9'),,:E6G6I>DC8DJA9G:HJAI>CHJ7HI6CI>6AI6MA>67>A>INID16C9DJG

HID8@=DA9:GH



'7A9A'3:/B32B=$C@CA7<3AA

'-5)A67<;=++--,167=:;<:)<-/1+7*2-+<1>-;?01+0+7=4,),>-:;-4A)..-+<7=:*=;16-;;.16)6+1)4

+76,1<176:-;=4<;7.78-:)<176;)6,+);0.47?;

(JGHIG6I:<>8EG>DG>I>:H6G:;D8JH:9DCDJG8JHIDB:GHDEI>B>O>C<8DHIH6C9H:>O>C<I=:B6G@:I0:B6NCDI7:

67A:ID>BEA:B:CIDJGHIG6I:<>8EG>DG>I>:H>C688DG96C8:L>I=DJG:ME:8I6I>DCH;DG6K6G>:IND;G:6HDCH>C8AJ9>C<

;6>AJG:ID:M:8JI:DCDJGEA6CH>C6I>B:AN;6H=>DCA68@D;69:FJ6I:H@>AAH>C:;;:8I>K:B6C6<:B:CI>C69:FJ6I:

>C8:CI>K:H8JHIDB:GG:H>HI6C8:IDC:L>C>I>6I>K:H>C67>A>INID8DCIGDA8DHIHDGB6>CI6>C8DBE:I>I>K:D;;:G>C<H0:

6AHD86CCDI7:8:GI6>CI=6I:M:8JI>C<DCDJGHIG6I:<NL>AA<:C:G6I:I=:7:C:;>IHL::ME:8I";L:;6>AID:M:8JI:

HJ88:HH;JAANDCDJGHIG6I:<>8EG>DG>I>:HDG>;L:EJGHJ:HIG6I:<>8EG>DG>I>:HI=6IEGDK:ID7:JCHJ88:HH;JADJG

7JH>C:HH;>C6C8>6AEDH>I>DCG:HJAIHD;DE:G6I>DCH6C986H=;ADLHB6N7:B6I:G>6AAN6C969K:GH:AN6;;:8I:9

'-+7=4,*-0-4,41)*4-.7:,)5)/-;7=::-8=<)<176+7=4,;=..-:)6,7=:*=;16-;;5)A*-5)<-:1)44A

158)+<-,,=-<7;-:>1+-16<-::=8<176;.:75;-+=:1<A*:-)+0-;+A*-:)<<)+3;7<0-:+A*-:;-+=:1<A->-6<;

7:16+1,-6<;7:,1;+47;=:-7.+76.1,-6<1)416.7:5)<1767:8-:;76)4,)<)

H6EGDK>9:GD;"-H:GK>8:HIDEG>K6I:6C9EJ7A>8H:8IDG8JHIDB:GHDE:G6I>C<>C6CJB7:GD;>C9JHIG>:H6C9

8DJCIG>:HL:HIDG:6C9EGD8:HH>C8G:6H>C<ANA6G<:6BDJCIHD;96I6;DGDJG8JHIDB:GH>C8AJ9>C<H:CH>I>K:6C9

E:GHDC6AAN>9:CI>;>67A:>C;DGB6I>DC0:EDHH:HHK6AJ67A:EGDEG>:I6GN>C;DGB6I>DC>C8AJ9>C<8DENG><=IHIG69:

H:8G:IH6C9DI=:G>CI:AA:8IJ6AEGDE:GIN6C9L:8DAA:8I6C9HIDG:8:GI6>CE:GHDC6A6C9;>C6C8>6A>C;DGB6I>DC;GDB

8JHIDB:GH6C9:BEADN::H0:6AHDG:ANDC6C9B6C6<:"->C;G6HIGJ8IJG:6C9HNHI:BH8DAA:8I>K:ANU"-,NHI:BHV

D;DJGDLC6C9D;8JHIDB:GH6C9L:G:ANDCI=>G9E6GI>:HL=DEGDK>9:K6G>DJH8G>I>86A=6G9L6G:HD;IL6G:6C9

H:GK>8:HIDHJEEDGIDJG"-,NHI:BH6C97JH>C:HHDE:G6I>DCH

0:;68:CJB:GDJH6C9:KDAK>C<8N7:GH:8JG>ING>H@HI=6II=G:6I:CI=:8DC;>9:CI>6A>IN>CI:<G>IN6C96K6>A67>A>IND;DJG

"-,NHI:BH6C996I6N7:GH:8JG>IN>C8>9:CIH86CG:HJAI;GDBJC>CI:CI>DC6A:K:CIHDG9:A>7:G6I:6II68@H7N

>CH>9:GHHJ8=6H:BEADN::H8DCIG68IDGHDGH:GK>8:EGDK>9:GHDGI=>G9E6GI>:H>C8AJ9>C<8G>B>C6AH8DBE:I>IDGH

C6I>DCHI6I:H6C9=68@I>K>HIH-=:H:>C8>9:CIH86CG:HJAI>C9>HGJEI>DCIDDJG7JH>C:HH;DG:M6BEA:9J:ID

G6CHDBL6G:DG9:C>6AD;H:GK>8:I=GDJ<=6C>BE68IDCDJG"-,NHI:BH6C9DGI=:8DBEGDB>H:8DGGJEI>DCDGADHH

D;96I67:ADC<>C<IDJHDGDJG8A>:CIH:BEADN::HK:C9DGHDGDI=:GE6GIC:GH:86JH:DJGEGD9J8IH6C9H:GK>8:H

>CHDB:>CHI6C8:H6G:>CI:<G6I:9L>I=DJG8JHIDB:GHTHNHI:BH6C9EGD8:HH:H6HJ88:HH;JA6II68@DCJH8DJA9

8DBEGDB>H:I=:8DC;>9:CI>6A>IN>CI:<G>IN6C96K6>A67>A>IND;DJG8JHIDB:GHT"-,NHI:BH6C9H:CH>I>K:96I69:HE>I:

DJGBDC>IDG>C<:;;DGIH6C9IDDAH>CEA68:9:H><C:9IDEG:K:CIHJ8=6II68@HHJ88:HH;JA8N7:G6II68@B6N86JH:JH

ID>C8JG8DHIH6C9A>67>A>INL=:I=:G8DCIG68IJ6ADGDI=:GL>H:HJ8=6HBDC:I6GN96B6<:HG:HJAI>C<;GDBA>I><6I>DC

G:B:9>6I>DC8DHIH6C9G:<JA6IDGN68I>DCH;>C:HDGE:C6AI>:HCND;I=:;DG:<D>C<DG68DB7>C6I>DCD;I=:

;DG:<D>C<8DJA9=6K:6B6I:G>6A>BE68IDCDJGG:HJAIHD;DE:G6I>DCHDG;>C6C8>6A8DC9>I>DC

0:G:<JA6GAN:ME:G>:C8:8N7:G:K:CIH6C9HDB:I>B:H=6K:H:8JG>IN>C8>9:CIH>C8AJ9>C<JC6JI=DG>O:9:;;DGIHID

688:HHDJG"-,NHI:BH6C9L::ME:8IHJ8=6II68@H6C9>C8>9:CIHID8DCI>CJ:>CK6GN>C<9:<G::H0=>A:>C8>9:CIH

:ME:G>:C8:9I=JH;6G=6K:CDIG:HJAI:9>CB6I:G>6A9>HGJEI>DCIDDJG7JH>C:HH>I>HEDHH>7A:I=6IL:DG68G>I>86A

H:GK>8:EGDK>9:G8DJA9HJ;;:G6H:K:G:6II68@DG>C8>9:CIL>I=EDI:CI>6AANB6I:G>6A69K:GH::;;:8IHDCDJG7JH>C:HH

G:EJI6I>DC8JHIDB:GG:A6I>DCHG:HJAIHD;DE:G6I>DCHDG;>C6C8>6A8DC9>I>DC-=:G:86C7:CD6HHJG6C8:I=6IDJG

8N7:GH:8JG>ING>H@B6C6<:B:CIHIG6I:<N6C9EGD8:HH:HL>AA7:;JAAN8DBEA>:9L>I=DG:;;:8I>K:>CEGDI:8I>C<6CN"-

,NHI:BH96I6DG7JH>C:HHDE:G6I>DCH



-=G:6I68IDGH6G:>C8G:6H>C<ANHDE=>HI>86I:96C9JH>C<IDDAH6C9I:8=C>FJ:H>C8AJ9>C<"9:H><C:9ID8>G8JBK:CI

H:8JG>IN8DCIGDAHID:K69:9:I:8I>DC6C9IDG:BDK:DGD7;JH86I:;DG:CH>8:K>9:C8:L=>8=B6@:H>IBDG:9>;;>8JAI

;DGJHID9:I:8I>9:CI>;N>CK:HI><6I:8DCI6>CDGG:8DK:G;GDB;JIJG:8N7:G6II68@H6C9H:8JG>IN>C8>9:CIH9K6C8:H

>C8DBEJI:G86E67>A>I>:HC:L9>H8DK:G>:H>CI=:;>:A9D;8GNEID<G6E=NDGDI=:G:K:CIHDG9:K:ADEB:CIH>C8G:6H:

I=:A>@:A>=DD9I=6IDJG:C8GNEI>DC6C9DI=:G6A<DG>I=BHI=6IL:JH:IDEGDI:8IDJG96I66C9I=6ID;8JHIDB:GH

>C8AJ9>C<H:CH>I>K:8JHIDB:GIG6CH68I>DC96I6B6N;6>ADBEJI:GEGD<G6BB:GH6C9=68@:GH=6K:9:EADN:96C9

B6N8DCI>CJ:ID9:K:ADE6C99:EADNG6CHDBL6G:B6AL6G:6C9DI=:GB6A>8>DJHHD;IL6G:EGD<G6BHI=GDJ<=

E=>H=>C<6C9DI=:GB:I=D9HI=6I6II68@DJGEGD9J8IH >K:CI=:C6IJG:D;8DBEA:MHNHI:BH=6G9L6G:HD;IL6G:

6C9H:GK>8:HA>@:DJGH6C9I=:H86CC>C<IDDAHI=6IL:9:EADN68GDHHDJG>C;G6HIGJ8IJG::CK>GDCB:CI6C9EGD9J8IH

L:G:<JA6GAN>9:CI>;N6C9IG68@H:8JG>INKJAC:G67>A>I>:H0:86CCDI<J6G6CI::I=6I>C6AA>CHI6C8:HL:86C

8DBEG:=:CH>K:AN6EEANE6I8=:HDG8DC;>GBI=6IB:6HJG:H6G:>CEA68:IDB>I><6I:DGDI=:GL>H:B6C6<:

KJAC:G67>A>I>:H7:;DG:I=:N86C7::MEAD>I:97N6I=G:6I68IDG"CDI=:GH>IJ6I>DCHKJAC:G67>A>I>:HE:GH>HI:K:C6;I:G

L:=6K:>HHJ:9H:8JG>INE6I8=:H7:86JH:DJG8JHIDB:GHB6N;6>AID6EEANE6I8=:HDGJE96I:I=:>GHNHI:BHID

C:L:GHD;IL6G:K:GH>DCH";I=G:6I68IDGH6G:67A:ID:MEAD>I8G>I>86AKJAC:G67>A>I>:H7:;DG:E6I8=:H6G:>CHI6AA:9DG

B>I><6I>C<B:6HJG:H6G:>BEA:B:CI:98DBEGDB>H:H8DJA9>BE68IDJG6C9DJG8JHIDB:GHT"-,NHI:BH6C996I6

GDBI>B:IDI>B:L:6AHD>9:CI>;NH:8JG>INKJAC:G67>A>I>:H6C99:;>8>:C8>:HIDDJG"-,NHI:BH;GDBG>H@

6HH:HHB:CIHE:C:IG6I>DCI:HI>C<>CI:GC6A6J9>I68I>K>I>:H6C9I=>G9E6GING:EDGIH+:B:9>6I>DCD;HJ8=

KJAC:G67>A>I>:H6C99:;>8>:C8>:H>H68DCI>CJDJHEGD8:HH6C9I=:G:>HCD<J6G6CI::I=6IHJ8=G:B:9>6I>DC:;;DGIH

L>AA7:HJ88:HH;JA,DE=>HI>86I:9=6G9L6G:HD;IL6G:6C96EEA>86I>DCHEGD9J8:9DGEGD8JG:9;GDBI=>G9E6GI>:H

CDIL>I=HI6C9>C<DJGI=>G9E6GING>H@B6C6<:B:CIEGD8:HH6C9DJG:;;DGIHIDI:HI6C9G:B:9>6I:8N7:G

KJAC:G67>A>I>:H7:;DG:>CI:<G6I>C<I=:B>CIDDJG"-HNHI:BHB6NHI>AA8DCI6>C9:;:8IH>C9:H><CDGB6CJ;68IJG:

>C8AJ9>C<U7J<HVDGDI=:GKJAC:G67>A>I>:HI=6IB6N7::MEAD>I:90:=6K:68FJ>G:96C9B6N8DCI>CJ:ID68FJ>G:

8DBE6C>:HL>I=8N7:GH:8JG>INKJAC:G67>A>I>:H6C9DGJCHDE=>HI>86I:9H:8JG>INB:6HJG:HL=>8=:MEDH:HJHID

8N7:GH:8JG>INDE:G6I>DC6A6C9;>C6C8>6AG>H@H"C699>I>DC8DCI>CJ:9G:BDI:6C9=N7G>9LDG@>C<6GG6C<:B:CIH

EG:H:CIEDI:CI>6AAN>C8G:6H:9G>H@6HHD8>6I:9L>I=H:8JG>INKJAC:G67>A>I>:HEG:H:CI>CCDC8DGEDG6I:6C9=DB:

C:ILDG@HC96HL:6C9K6G>DJHI=>G9E6GI>:H8DCI>CJ:ID:MEADG:6C9>CI:<G6I:">CIDK6G>DJHEGD9J8IH6C9

H:GK>8:HL:6G:A>@:AN:MEDH:9IDC:L6C9JC@CDLC8N7:GH:8JG>ING>H@H6C9I=G:6IH

E6GINL=:I=:G6C>CH>9:GDG6I=>G9E6GINDE:G6I>C<DJIH>9:I=:DBE6CNL=D>H67A:ID8>G8JBK:CIDJGH:8JG>IN

B:6HJG:HDGI=DH:D;DJG8DCIG68IDGHE6GIC:GHDGK:C9DGH8DJA9688:HHDJG"-,NHI:BHDGI=DH:D;68G>I>86AI=>G9

E6GIN6C9B>H6EEGDEG>6I:EGDEG>:I6GN>C;DGB6I>DCI=:8DC;>9:CI>6A96I6D;DJG8JHIDB:GH:BEADN::HDG7JH>C:HH

E6GIC:GHDG86JH:>CI:GGJEI>DC>CDJGDGI=:>GDE:G6I>DCH-=:8DHIHID:A>B>C6I:DG6AA:K>6I:8N7:GDGDI=:GH:8JG>IN

EGD7A:BH>C8AJ9>C<G6CHDBL6G:B6AL6G:7J<HB6A>8>DJHHD;IL6G:EGD<G6BH6C9DI=:GH:8JG>INKJAC:G67>A>I>:H

8DJA97:H><C>;>86CI6C9DJG:;;DGIHID699G:HHI=:H:EGD7A:BHB6NCDI7:HJ88:HH;JA6C98DJA9G:HJAI>C

>CI:GGJEI>DCH9:A6NH8:HH6I>DCD;H:GK>8:6C9ADHHD;:M>HI>C<DGEDI:CI>6A8JHIDB:GHL=>8=B6N>BE:9:DJG

H6A:H9>HIG>7JI>DCDGDI=:G8G>I>86A;JC8I>DCH

"CI=::K:CID;68N7:G6II68@DGH:8JG>IN>C8>9:CIL:8DJA97::MEDH:9IDG:<JA6IDGN68I>DCH8JHIDB:G6IIG>I>DC

9J:IDG:EJI6I>DC6A8DC8:GCHDGDI=:GL>H:8DCI6>CB:CI6C9G:B:9>6I>DC:ME:CH:H6C98A6>BH7GDJ<=I7NDJG

8JHIDB:GHDGDI=:GH;DG7G:68=>C<8DCIG68IJ6A8DC;>9:CI>6A>IN6C9H:8JG>INEGDK>H>DCHDG96I6EGDI:8I>DCDGEG>K68N

A6LH0:BJHI:ME:C986E>I6A6C9DI=:GG:HDJG8:HIDEGDI:8I6<6>CHIH:8JG>IN>C8>9:CIH>C8AJ9>C<6II:BEI:9

H:8JG>IN7G:68=:H6C98N7:G6II68@H6C9ID6AA:K>6I:EGD7A:BH86JH:97NHJ88:HH;JA7G:68=:HDG6II68@H-=:

8DHIEDI:CI>6ABDC:I6GN96B6<:H6C9DE:G6I>DC6A8DCH:FJ:C8:HD;G:HEDC9>C<IDH:8JG>IN>C8>9:CIH6C9

>BEA:B:CI>C<G:B:9>6I>DCB:6HJG:H8DJA97:H><C>;>86CI6C9B6N7:>C:M8:HHD;>CHJG6C8:EDA>8NA>B>IHDGCDI7:

8DK:G:97NDJG>CHJG6C8:6I6AA&DG:DK:G;6>AJG:IDB6>CI6>C:;;:8I>K:>CI:GC6A688DJCI>C<8DCIGDAHG:A6I:9ID96I6

H:8JG>IN7G:68=:H6C98N7:GH:8JG>IN>C<:C:G6A8DJA9>BE68IDJG67>A>INIDEGD9J8:I>B:AN6C9688JG6I:;>C6C8>6A

HI6I:B:CIH6C98DJA9HJ7?:8IJHIDG:<JA6IDGNH8GJI>CN

>C6AANEDGI>DCHD;DJG>C;G6HIGJ8IJG:6C9"-,NHI:BH6AHDB6N:ME:G>:C8:>CI:GGJEI>DCH9:A6NHDG8:HH6I>DCHD;

H:GK>8:DGEGD9J8::GGDGH>C8DCC:8I>DCL>I=HNHI:BH>CI:<G6I>DCDGB><G6I>DCLDG@I=6II6@:HEA68:;GDBI>B:ID

I>B:0:B6NCDI7:HJ88:HH;JA>C>BEA:B:CI>C<C:LHNHI:BH6C9IG6CH>I>DC>C<96I6L=>8=8DJA986JH:7JH>C:HH

9>HGJEI>DCH6C97::ME:CH>K:I>B:8DCHJB>C<9>HGJEI>K:6C9G:HDJG8:>CI:CH>K:,J8=9>HGJEI>DCH8DJA9

69K:GH:AN>BE68IDJG67>A>INID;JA;>AADG9:GH6C9G:HEDC9ID8JHIDB:GG:FJ:HIH6C9>CI:GGJEIDI=:GEGD8:HH:H

:A6N:9H6A:HADL:GB6G<>CHDGADHHD;8JHIDB:GHG:HJAI>C<;GDBI=:H:9>HGJEI>DCH8DJA9G:9J8:DJGG:K:CJ:H

>C8G:6H:DJG:ME:CH:H96B6<:DJGG:EJI6I>DC6C969K:GH:AN6;;:8IDJGHID8@EG>8:



75841)6+-7:.)14=:-<7+7584A?1<07*41/)<176;):1;16/=6,-:6-?7:-@1;<16/4)?;:-/=4)<176;)6,

+=;<75-:+76<:)+<;:-4)<16/<7<0-8:1>)+A;-+=:1<A)6,0)6,416/7.8-:;76)4,)<)+7=4,),>-:;-4A)..-+<

7=:.16)6+1)4+76,1<176:-;=4<;7.78-:)<176;)6,+);0.47?;

0:G:8:>K:HIDG:DGDI=:GL>H:EGD8:HHE:GHDC6A96I6G:A6I:9IDDJG8JHIDB:GH:BEADN::H6C9DI=:G>C9>K>9J6AH

>C8AJ9>C<:C98JHIDB:GH6C9:BEADN::HD;DJG8JHIDB:GH>CDG9:GIDGJCDJG7JH>C:HH6C96G:HJ7?:8IID6

K6G>:IND;A6LHG:<JA6I>DCH6C98DCIG68IJ6AD7A><6I>DCHG:A6I>C<IDI=:EG>K68NH:8JG>IN6C9=6C9A>C<D;E:GHDC6A

96I6

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0::C8DJCI:G6<<G:HH>K:8DBE:I>I>DC;GDBCJB:GDJH6C9K6G>:98DBE:I>IDGH(JG8DBE:I>I>K:C:HH>H76H:9DC

;68IDGH>C8AJ9>C<I:8=CDAD<N>C8AJ9>C<7J>A9>C<"86E67>A>I>:H>CIDDJGD;;:G>C<H>CCDK6I>DCE:G;DGB6C8:EG>8:

FJ6A>ING:A>67>A>IN7G6C9G:EJI6I>DCG6C<:D;EGD9J8IH6C9H:GK>8:H688DJCIG:A6I>DCH=>EH8JHIDB:GIG6>C>C<

H:GK>8:6C9HJEEDGI6C9H:8JG>IN";L:6G:JC67A:ID8DBE:I:76H:9DCHJ8=;68IDGHL:8DJA9ADH:8JHIDB:GHDG

L:B6N:ME:G>:C8:G:9J8:9EGD;>I67>A>IN;GDBDJG8JHIDB:GH6C9DJGG:HJAIHD;DE:G6I>DCH6C97JH>C:HHEGDHE:8IH

8DJA97:=6GB:9-:8=CDAD<>86A9:K:ADEB:CIH=6K:86JH:96C9B6N>CI=:;JIJG:86JH:8JHIDB:GHID9:A6N

HE:C9>C<JC9:G:M>HI>C<8DCIG68IH6C9:C<6<:B:CIH6C9ID9:A6N:CI:G>C<>CIDC:L8DCIG68IHL=>A:I=:N:K6AJ6I:

C:LI:8=CDAD<>:H,J8=9:A6NH86CC:<6I>K:AN>BE68IDJGG:HJAIHD;DE:G6I>DCH>;I=:E68:6C9A:K:AD;HE:C9>C<

DCC:LI:8=CDAD<>:H7NHDB:D;DJG8JHIDB:GH6G:CDIHJ;;>8>:CIIDB6@:JE6CNH=DGI;6AA7NDI=:G8JHIDB:GH

(JG<GDLI=HIG6I:<N;D8JH:HDCG:HEDC9>C<IDI=:H:INE:HD;9:K:ADEB:CIH7N9G>K>C<>CCDK6I>DCI=6IL>AA:C67A:

JHID:ME6C9DJG7JH>C:HH>CIDC:L<GDLI=6G:6H!DL:K:GB6G@:IH;DGC:LI:8=CDAD<>:HHJ8=6H"B6NCDI

9:K:ADE6HL:=6K:6CI>8>E6I:9";L:9DCDIHJ;;>8>:CIAN>CK:HI>CC:LI:8=CDAD<N6C9696EIID>C9JHIGN

9:K:ADEB:CIHDG:KDAK:6C9:ME6C9DJG7JH>C:HH6IHJ;;>8>:CIHE::96C9H86A:DG>;L:9DCDIB6@:I=:G><=I

HIG6I:<>8>CK:HIB:CIHIDG:HEDC9IDI=:H:9:K:ADEB:CIH6C9HJ88:HH;JAAN9G>K:>CCDK6I>DCDJGH:GK>8:H6C9

HDAJI>DCHDJGG:HJAIHD;DE:G6I>DCH6C9DJG67>A>INID9:K:ADE6C9B6>CI6>C68DBE:I>I>K:69K6CI6<:6C9ID

:M:8JI:DCDJG<GDLI=HIG6I:<N8DJA97:C:<6I>K:AN6;;:8I:9

0:=6K:6A6G<:EDGI;DA>DD;H:GK>8:H6C9L:C::9ID6AAD86I:;>C6C8>6AE:GHDCC:A6C9DI=:GG:HDJG8:H68GDHH6AA

H:GK>8:HL=>A:8DBE:I>C<L>I=8DBE6C>:HI=6I=6K:HB6AA:GEDGI;DA>DHDGHE:8>6A>O:>CDC:DGBDG:D;DJGH:GK>8:

A>C:HH6G:HJAIL:B6N>CK:HIA:HH>C8:GI6>C7JH>C:HH6G:6HI=6CDJG8DBE:I>IDGH9D6C98DBE:I>IDGHB6N

=6K:<G:6I:G;>C6C8>6AI:8=C>86A6C9B6G@:I>C<G:HDJG8:H6K6>A67A:IDI=:B8DBE6G:9IDI=:G:HDJG8:H6AAD86I:9

IDDJGH:GK>8:H"C9JHIGN8DCHDA>96I>DCB6N6AHD6;;:8I8DBE:I>I>DC7N8G:6I>C<A6G<:GBDG:=DBD<:C:DJH6C9



EDI:CI>6AANHIGDC<:G8DBE:I>IDGH>CI=:B6G@:IH>CL=>8=L:DE:G6I:99>I>DC6AAN8DBE:I>IDGHB6N6;;:8IDJG

7JH>C:HH7N:CI:G>C<>CID:M8AJH>K:6GG6C<:B:CIHL>I=:M>HI>C<DGEDI:CI>6A8JHIDB:GHDGHJEEA>:GH

DBE6C>:HL>I=L=DBL:=6K:6AA>6C8:H>C8:GI6>C6G:6HB6N7:DG7:8DB:8DBE:I>IDGH>CDI=:G6G:6H"C

699>I>DC8DBE6C>:HL>I=L=DBL:=6K:6AA>6C8:H6AHDB6N68FJ>G:DG;DGB6AA>6C8:HL>I=8DBE:I>IDGHL=>8=

8DJA9G:9J8:I=:>G7JH>C:HHL>I=JH";L:6G:JC67A:ID:;;:8I>K:ANB6C6<:I=:H:8DBEA>86I:9G:A6I>DCH=>EHL>I=

6AA>6C8:E6GIC:GHDJG7JH>C:HH6C9G:HJAIHD;DE:G6I>DCH8DJA97:69K:GH:AN6;;:8I:9

0:;68:6<<G:HH>K:EG>8:8DBE:I>I>DC6C9B6N=6K:IDADL:GEG>8:HIDHI6N8DBE:I>I>K:L=>A:H>BJAI6C:DJHAN

H::@>C<IDB6>CI6>CDG>BEGDK:G:K:CJ:6C9<GDHHB6G<>C-=>HEG>8:8DBE:I>I>DCB6N8DCI>CJ:ID>C8G:6H:;GDB

:B:G<>C<8DBE6C>:HI=6IH:AAEGD9J8IH6C9H:GK>8:H>CIDI=:H6B:B6G@:IH>CL=>8=L:DE:G6I:"C699>I>DC

8DBE:I>IDGHL=D=6K:6<G:6I:GEG:H:C8:>CHDB:D;I=:ADL:G8DHIB6G@:IH>CL=>8=L:8DBE:I:DGL=D86C

D7I6>C7:II:GEG>8>C<BDG:;6KDG67A:8DCIG68IJ6AI:GBH6C98DC9>I>DCHB6N7:67A:IDD;;:GADL:GEG>8:HI=6CL:

6G:67A:IDD;;:G";L::ME:G>:C8:EG:HHJG:;GDB8DBE:I>IDGHIDADL:GDJGEG>8:HL:B6N=6K:ADL:GI=6C

:ME:8I:9EGD;>IB6G<>CH6C9ADHI7JH>C:HHDEEDGIJC>I>:H>;L:6G:JC67A:IDB6I8=I=:EG>8:9:8A>C:H(JG86H=

;ADLHG:HJAIHD;DE:G6I>DCH6C9;>C6C8>6A8DC9>I>DCB6N7:69K:GH:AN6;;:8I:97NI=:H:6C9DI=:G>C9JHIGNL>9:

EG>8>C<EG:HHJG:H

=:)*141<A<7+758-<-16+-:<)165):3-<;?-;-:>-1;,-8-6,-6<767=:)*141<A<7+76<16=-<7-@8)6,7=:

+)8)+1<A16+-:<)167..;07:-47+)<176;7?->-:);7=:8:-;-6+-16<0-;-47+)<176;16+:-);-;?-):-

-@87;-,<7:1;3;160-:-6<<7<0-;-47+)<176;?01+05)A),>-:;-4A)..-+<7=::->-6=-)6,8:7.1<)*141<A

H><C>;>86CIEDGI>DCD;DJG6EEA>86I>DCDJIHDJG8>C<6C9HD;IL6G:9:K:ADEB:CI68I>K>I>:H=6H7::CH=>;I:9ID"C9>6

6C9DI=:GADL:G8DHIAD86I>DCHH6G:HJAIL:6G::MEDH:9IDI=:G>H@H>C=:G:CI>CDE:G6I>C<>C"C9>6DGDI=:G

AD86I>DCH>C8AJ9>C<6=><=AN8DBE:I>I>K:A67DGB6G@:I;DGH@>AA:9LDG@:GHL=>8=B6NG:HJAI>CH><C>;>86CI

>C8G:6H:H>CA67DG8DHIH6HL:AA6HH=DGI6<:HD;FJ6A>;>:9LDG@:GH>CI=:;JIJG:8JGG:C8N:M8=6C<:G>H@H6C9

I=:EDHH>7>A>INI=6II=:.,:9:G6A DK:GCB:CIDGI=:JGDE:6C.C>DCI=:.B6N:C68IA:<>HA6I>DCI=6I

8G:6I:HH><C>;>86CI9>H>C8:CI>K:H;DG8JHIDB:GHIDAD86I:8:GI6>CD;I=:>GDE:G6I>DCHD;;H=DG:L=>8=LDJA9G:9J8:

I=:9:B6C9;DGI=:H:GK>8:HL:EGDK>9:>CHJ8=AD86I>DCH6C9B6N69K:GH:AN>BE68IDJG8DHIHIGJ8IJG:6C9

EGD;>I67>A>IN"C699>I>DC"C9>6=6H:ME:G>:C8:96C9DI=:G8DJCIG>:HB6N:ME:G>:C8:EDA>I>86A>CHI67>A>IN8>K>AJCG:HI

6C9=DHI>A>I>:HL>I=C:><=7DG>C<8DJCIG>:H':<6I>K:DGJC8:GI6>CEDA>I>86A8A>B6I:H>C8DJCIG>:HDGAD86I>DCHL=:G:

L:DE:G6I:>C8AJ9>C<7JICDIA>B>I:9IDB>A>I6GN68I>K>I>:HDG8>K>A=DHI>A>I>:H8G>B>C6A68I>K>I>:H6C9DI=:G68IHD;

K>DA:C8:>C;G6HIGJ8IJG:9>HGJEI>DCC6IJG6A9>H6HI:GHDGDI=:G8DC9>I>DCH8DJA969K:GH:AN6;;:8IDJGDE:G6I>DCHDG

86JH:JHID:M>I8:GI6>CB6G@:IH



0:6G:HJ7?:8IIDI=:.,DG:><CDGGJEI)G68I>8:H8ID;6H6B:C9:9)6C9H>B>A6G6CI>7G>7:GN

A6LH>CDI=:G?JG>H9>8I>DCH0:EJGHJ:DEEDGIJC>I>:H>C8:GI6>CE6GIHD;I=:LDGA9I=6I:ME:G>:C8:<DK:GCB:CI

8DGGJEI>DC6C9>C8:GI6>C8>G8JBHI6C8:H8DBEA>6C8:L>I=6CI>7G>7:GNA6LHB6N8DC;A>8IL>I=AD86A8JHIDBH6C9

EG68I>8:H(JG>CI:GC6AEDA>8>:HB6C96I:8DBEA>6C8:L>I=6AA6EEA>867A:6CI>7G>7:GNA6LH0:G:FJ>G:DJG

:BEADN::HE6GIC:GHHJ78DCIG68IDGH6<:CIH6C9DI=:GHID8DBEANL>I=I=:)6C9DI=:G6CI>7G>7:GNA6LH

-=:G:>HCD6HHJG6C8:I=6IDJGEDA>8>:HDGEGD8:9JG:HL>AAEGDI:8IJH6<6>CHIA>67>A>INJC9:GI=:)DGDI=:GA6LH

;DG68I>DCHI6@:C7NDJG:BEADN::H6C9>CI:GB:9>6G>:H";L:6G:;DJC9ID7:A>67A:;DG)K>DA6I>DCH:>I=:G9J:

IDDJGDLC68IHDGDJGDB>HH>DCHDG9J:IDI=:68IHDGDB>HH>DCHD;DI=:GHL:8DJA9HJ;;:G;GDBH:K:G:8G>B>C6A

DG8>K>AE:C6AI>:HDGDI=:GH6C8I>DCHL=>8=8DJA9=6K:6B6I:G>6A69K:GH::;;:8IDCDJGG:EJI6I>DC7JH>C:HH

G:HJAIHD;DE:G6I>DCHDG86H=;ADLH"C699>I>DC9:I:8I>C<>CK:HI><6I>C<6C9G:HDAK>C<68IJ6ADG6AA:<:9K>DA6I>DCHD;

I=:)DGDI=:G6CI>7G>7:GNK>DA6I>DCH>H:ME:CH>K:6C98DJA98DCHJB:H><C>;>86CII>B:6C96II:CI>DCD;DJG

H:C>DGB6C6<:B:CI



)14=:-<75)16<)167=:+:-,1<:)<16/)6,)*141<A<75)6)/-?7:316/+)81<)4:-.16)6+-)6,:)1;-),,1<176)4

+)81<)4.7:.=<=:-6--,;+7=4,),>-:;-4A)..-+<7=:419=1,1<A+)81<)487;1<176*7::7?16/+7;<)6,)++-;;

<7+)81<)45):3-<;

0:8JGG:CIANB6>CI6>C>CK:HIB:CI<G69:8G:9>IG6I>C<HL>I=&DD9NH"CK:HIDGH,:GK>8:>I8=+6I>C<,:GK>8:H6C9

,I6C96G9)DDGH+6I>C<H,:GK>8:H(JG8G:9>IG6I>C<H6G:76H:9JEDC>C;DGB6I>DC;JGC>H=:97NJHDGD7I6>C:97N

6G6I>C<6<:C8N;GDB>IHDLCHDJG8:H6C96G:HJ7?:8IIDG:K>H>DCHJHE:CH>DCDGL>I=9G6L6A7NDC:DGBDG:G6I>C<

6<:C8>:H6I6CNI>B:+6I>C<6<:C8>:HB6NEA68:DJGG6I>C<HDCC:<6I>K:DJIADD@DG8G:9>IL6I8=DGI6@:

9DLC<G69:68I>DCH9J:ID;68IDGH>C8AJ9>C<69K:GH:8=6C<:H>CB68GD:8DCDB>88DC9>I>DCHHJ8=6H6<AD76ADG

G:<>DC6AG:8:HH>DCIG69:EDA>8NJC8:GI6>CIN>C8AJ9>C<I6G>;;>BEDH>I>DCHDG:H86A6I>DCHDG7GD69:G8G:9>IB6G@:I

IG:C9H+6I>C<6<:C8>:HB6NG:K>:LI=:G6I>C<H6HH><C:9IDJH9J:ID9:K:ADEB:CIHI=6I6G:7:NDC9DJG8DCIGDA

>C8AJ9>C<EDI:CI>6AC:LHI6C96G9HG:FJ>G>C<I=:6<:C8>:HIDG:6HH:HHG6I>C<EG68I>8:H6C9B:I=D9DAD<>:H+6I>C<H

6<:C8>:HB6N8DCH>9:G8=6C<:H>C8G:9>IG6I>C<H76H:9DC8=6C<:H>C:ME:8I6I>DCH67DJI;JIJG:EGD;>I67>A>IN6C9

86H=;ADLH:K:C>;H=DGII:GBA>FJ>9>IN:ME:8I6I>DCH6G:CDIC:<6I>K:AN>BE68I:9";8=6C<:H>CDJG8G:9>IG6I>C<H

L:G:IDD88JG>I8DJA9G:HJAI>C=><=:G>CI:G:HI8DHIHJC9:G8:GI6>CD;DJG8G:9>I;68>A>I>:H"ILDJA96AHD86JH:DJG

;JIJG:7DGGDL>C<8DHIHID>C8G:6H:6C9A>B>IDJG688:HHID86E>I6AB6G@:IHDG:M6BEA:L:;JC96EDGI>DCD;DJG

LDG@>C<86E>I6AG:FJ>G:B:CIH>CI=:.,6C9JGDE:6C8DBB:G8>6AE6E:GB6G@:IH;GDBI>B:IDI>B:CN

9DLC<G69:7:ADLDJG8JGG:CIG6I>C<LDJA967H:CI8=6C<:HID8JGG:CIB6G@:IA>FJ>9>INHJ7HI6CI>6AANG:9J8:DG

:A>B>C6I:DJG67>A>INID688:HHI=6IHDJG8:D;;JC9>C<6C98DJA9DI=:GL>H:C:<6I>K:AN>BE68II=:E:G8:EI>DCD;DJG

8DBE6CN7NA:C9:GH6C9DI=:GI=>G9E6GI>:H"C699>I>DC8:GI6>CD;DJGB6?DG8DCIG68IHEGDK>9:8JHIDB:GHL>I=6

G><=ID;I:GB>C6I>DC>C8:GI6>C8>G8JBHI6C8:H>CI=::K:CID;6G6I>C<9DLC<G69:7:ADL>CK:HIB:CI<G69:-=:G:

86C7:CD6HHJG6C8:I=6IL:L>AA7:67A:IDB6>CI6>CDJG8G:9>IG6I>C<H6C96CN699>I>DC6A68IJ6ADG6CI>8>E6I:9

8=6C<:HDG9DLC<G69:H>CDJG8G:9>IG6I>C<H>C8AJ9>C<6CN6CCDJC8:B:CII=6IDJGG6I>C<H6G:JC9:GG:K>:L;DG6

9DLC<G69:B6N=6K:6C:<6I>K:>BE68IDCDJGA>FJ>9>IN86E>I6AEDH>I>DC6C9688:HHID86E>I6AB6G@:IH

(JGA>FJ>9>IN>H6;JC8I>DCD;DJG67>A>INIDHJ88:HH;JAAN<:C:G6I:86H=;ADLH;GDB68DB7>C6I>DCD;:;;>8>:CI

DE:G6I>DCH6C98DCI>CJ>C<DE:G6I>C<>BEGDK:B:CIH688:HHID86E>I6AB6G@:IH6C9;JC9>C<;GDBI=>G9E6GI>:H"C

699>I>DCA>@:B6CNBJAI>C6I>DC6AG:<JA6I:9:CI:GEG>H:HDJGDE:G6I>DCH6G:HJ7?:8IID6K6G>:IND;I6M;DG:><C

:M8=6C<:6C9G:<JA6IDGN86E>I6AG:FJ>G:B:CIH>C9>;;:G:CI?JG>H9>8I>DCHI=6I=6K:I=::;;:8ID;A>B>I>C<9:A6N>C<DG

>C8G:6H>C<I=:8DHID;BDK>C<86H=7:IL::C?JG>H9>8I>DCHDGJH>C<DJG86H=;DG8:GI6>CEJGEDH:H(JG67>A>INID

B6>CI6>CHJ;;>8>:CIA>FJ>9>IN<D>C<;DGL6G9>HHJ7?:8IIDI=:<:C:G6AA>FJ>9>IND;6C9DC<D>C<8=6C<:H>CI=:8G:9>I

B6G@:IH6HL:AA6H<:C:G6A:8DCDB>8;>C6C8>6A8DBE:I>I>K:A:<>HA6I>K:G:<JA6IDGN6C9DI=:GB6G@:I;68IDGHI=6I

6G:7:NDC9DJG8DCIGDAC>C8G:6H:>CDJG7DGGDL>C<8DHIHA>B>I6I>DCHDCDJG67>A>INID688:HHI=:<AD76A86E>I6A

6C98G:9>IB6G@:IHDG6G:9J8I>DC>CDJGA>FJ>9>IN86C69K:GH:AN6;;:8IDJG;>C6C8>6A8DC9>I>DC6C9G:HJAIHD;

DE:G6I>DCH"I>H9>;;>8JAIIDEG:9>8II=:>BE68ID;>C8G:6H:97DGGDL>C<8DHIHDCJHDJGI=>G9E6GINE6GIC:GHDG

8JHIDB:GHDG:8DCDB>8B6G@:IHBDG:7GD69ANL=>8==6K:7::C6C9L>AA8DCI>CJ:ID7:=><=AN9:E:C9:CIJEDC

I=:68I>DCHD;<DK:GCB:CIH6C97JH>C:HH:H>CG:HEDCH:IDB68GD:8DCDB>8:K:CIH6C9I=::;;:8I>K:C:HHD;I=DH:

68I>DCH,J8=68I>DCHB6N>BE68IDJG67>A>IN9:H>G:DGI=:I>B>C<D;H::@>C<;JC9>C<;DGK6G>DJH>CK:HIB:CI

DEEDGIJC>I>:H

"C699>I>DCKDA6I>A>IN6C99>HGJEI>DC>C76C@>C<6C986E>I6AB6G@:IH86C69K:GH:AN6;;:8IDJG67>A>INIDG:;>C6C8:

6C9>C8G:6H:I=:8DHID;G:;>C6C8>C<HDB:DG6AAD;DJG9:7I>HGJEI>DCH>CI=:;>C6C8>6AB6G@:IH86C6AHD

69K:GH:AN6;;:8IDJGA:C9:GH>CHJG:GH8JHIDB:GH6C9DI=:G8DJCI:GE6GI>:H(JGIDI6AA>FJ>9>IN9:E:C9H>CE6GIDC

I=:6K6>A67>A>IND;;JC9HJC9:GI=:G:KDAK>C<8G:9>I;68>A>IN6C9DJGDI=:G;>C6C8>C<6<G::B:CIH-=:;6>AJG:D;6CN

A:C9:GTH67>A>INID;JC9;JIJG:9G6LHDCDJGG:KDAK>C<8G:9>I;68>A>INDGDJGDI=:G;>C6C8>C<6GG6C<:B:CIH8DJA9

G:9J8:I=:6BDJCID;86H=L:=6K:6K6>A67A:;DGDE:G6I>DCH6C9699>I>DC6A86E>I6A;DG;JIJG:C::9H

"C;DGB6I>DCG:<6G9>C<DJG8G:9>IG6I>C<H>H>C8AJ9:9>C)6GI"""I:BD;I=>HCCJ6A+:EDGIDCDGB$JC9:GI=:

86EI>DC%>FJ>9>IN6C96E>I6A+:HDJG8:H



.16,=;<:A7:-9=1<A:-;-):+0)6)4A;<;0)>-,1..1+=4<A16=6,-:;<)6,16/<0-+0)6/-;<77=:*=;16-;;

57,-47:?-.)14<75--<7=:8=*41+4A)667=6+-,.16)6+1)4/=1,)6+-7=:;<7+38:1+-)6,<:),16/>74=5-

+7=4,,-+416-

>K:CI=:8DBEA:M>IND;>BEA:B:CI>C<DJGHIG6I:<>8EG>DG>I>:H6C9I=:JC8:GI6>C<AD76A:8DCDB>88DC9>I>DCHL:

B6NCDI7:67A:IDEGD<G:HHDCDJGHIG6I:<>8EG>DG>I>:H>C688DG96C8:L>I=DJG:ME:8I6I>DCH6C9>I>HA>@:ANI=6IDJG

EG>DG;DG:86HIHL>AAEGDK:ID7:>C8DGG:8I99>I>DC6AAN>C9JHIGN6C9:FJ>ING:H:6G8=6C6ANHIHI=6IEJ7A>H=G:EDGIH

67DJIDJG7JH>C:HHB6NCDI688JG6I:AN86EIJG:6C9G:;A:8IDJGIJGC6GDJC9EGD<G:HHH6G:HJAIL:B6N;6>AID

B::II=:>G:ME:8I6I>DCH

";DJG;>C6C8>6AG:HJAIH;6>AIDB::IDJGEJ7A>8AN6CCDJC8:9;>C6C8>6A<J>96C8:DGB6G@:I:ME:8I6I>DCH:FJ>IN

G:H:6G8=6C6ANHIH8DJA99DLC<G69:DJG8DBBDCHID8@DGEJ7A>H=JC;6KDG67A:G:H:6G8=I=6I8DJA986JH:DJGHID8@

EG>8:DGIG69>C<KDAJB:ID9:8A>C:EDI:CI>6AANH><C>;>86CIAN

=:*=;16-;;)6,.16)6+1)4:-;=4<;0)>-*--6),>-:;-4A)..-+<-,)6,+7=4,+76<16=-<7*-5)<-:1)44A

),>-:;-4A)..-+<-,*A8=*41+0-)4<0+:1;-;

)J7A>8=:6AI=8G>H:HHJ8=6HI=:(/"E6C9:B>8=6K:86JH:99>HGJEI>DCH>C<AD76A:8DCDB>:H;>C6C8>6A6C9

8DBBD9>I>:HB6G@:IH6C9G6E>9H=>;IH>C<DK:GCB:CI6A6C9EJ7A>8=:6AI=EDA>8>:H

':<6I>K:>BE68IHIDDJG7JH>C:HH=6K:D88JGG:96C9B6ND88JG>CI=:;JIJG:>C8AJ9>C<9>HGJEI>DCHDGG:HIG>8I>DCH

DCDJG:BEADN::HT67>A>INIDLDG@:;;:8I>K:AN6HL:AA6HI:BEDG6GN8ADHJG:HD;DJG;68>A>I>:HDGI=:;68>A>I>:HD;DJG

8JHIDB:GHDGDJGHJ78DCIG68IDGHDGI=:G:FJ>G:B:CIHID9:A>K:GDJGH:GK>8:HG:BDI:AN";67JH>C:HH>CI:GGJEI>DC

D88JGH6C9L:6G:JCHJ88:HH;JA>CDJG8DCI>CJ>C<:;;DGIHIDB>C>B>O:I=:>BE68ID;I=:H::K:CIHDJG7JH>C:HH

G:HJAIHD;DE:G6I>DCH;>C6C8>6AEDH>I>DC6C986H=;ADLH8DJA97:B6I:G>6AAN69K:GH:AN6;;:8I:9

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6AHDA:69ID69:I:G>DG6I>DCD;LDGA9L>9:8G:9>I6C9;>C6C8>6AB6G@:IHI=6I8DJA9C:<6I>K:AN6;;:8II=:;>C6C8>6A

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)6,:-;=4<;7.78-:)<176;

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D7A><6I>DCH0:B6N>C8JGHJ7HI6CI>6A699>I>DC6A>C9:7I:9C:HH>CI=:;JIJG:;DGB6CNG:6HDCH>C8AJ9>C<ID;JC9

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I=6I8DJA986JH:JHID>C8JG699>I>DC6A;::H6C9:ME:CH:H

W HJ7?:8I>C<JHIDI=:G>H@D;>C8G:6H:9H:CH>I>K>INID>CI:G:HIG6I:>C8G:6H:H>CDJGDJIHI6C9>C<K6G>67A:G6I:

>C9:7I:9C:HHI=6I8DJA986JH:DJG9:7IH:GK>8:D7A><6I>DCHID>C8G:6H:H><C>;>86CIAN

W >C8G:6H>C<I=:G>H@D;6;JIJG:8G:9>IG6I>C<H9DLC<G69:D;DJG9:7IL=>8=8DJA9>C8G:6H:;JIJG:9:7I8DHIH

6C9A>B>II=:;JIJG:6K6>A67>A>IN;DG9:7I;>C6C8>C<

W G:9J8>C<I=:6K6>A67>A>IND;DJG86H=;ADLID;JC9LDG@>C<86E>I6A86E>I6A:ME:C9>IJG:H68FJ>H>I>DCH6C9

DI=:G<:C:G6A8DGEDG6I:EJGEDH:H6C9A>B>I>C<DJG67>A>INIDD7I6>C699>I>DC6A;>C6C8>C<;DGI=:H:EJGEDH:H

W EA68>C<JH6I68DBE:I>I>K:9>H69K6CI6<:8DBE6G:9IDA:HHA:K:G6<:98DBE:I>IDGH

W >C8G:6H>C<DJGKJAC:G67>A>INIDI=:>BE68ID;69K:GH::8DCDB>86C9>C9JHIGN8DC9>I>DCH6C9

W 86JH>C<JHIDG:9J8:DG:A>B>C6I:DJGG:IJGCD;86H=IDDJGHID8@=DA9:GH>C8AJ9>C<K>69>K>9:C9H6C9H=6G:

G:EJG8=6H:H



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CD6HHJG6C8:I=6IDJG7JH>C:HHL>AA<:C:G6I:HJ;;>8>:CI86H=;ADL;GDBDE:G6I>DCHDGI=6I8JGG:CIDG;JIJG:

7DGGDL>C<HL>AA7:HJ;;>8>:CIIDB::IDJG8JGG:CI9:7ID7A><6I>DCH6C9ID;JC9DI=:GA>FJ>9>INC::9H

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8DCIG68IHJC>IEG>8:8DCIG68IH;>M:9EG>8:8DCIG68IH6C9BJAI>EA::A:B:CIHD;IL6G:H6A:H0:6G:9:E:C9:CIDC

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G:IJGCDCDJG>CK:HIB:CI>CI=:H:8DCIG68IHL:BJHI7:67A:ID688JG6I:AN:HI>B6I:DJG8DHIHIDEGDK>9:I=:

H:GK>8:HG:FJ>G:97NI=:8DCIG68I6C9ID8DBEA:I:I=:8DCIG68IH>C6I>B:ANB6CC:G0:;68:6CJB7:GD;G>H@H

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C6IJG:D;8:GI6>C8DCIG68IH>H8DBEA:M6C9>CKDAK:HH><C>;>86CI?J9<B:CI9?JHIB:CIHIDDG><>C6A:HI>B6I:H6G:

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I=:I>B:G:FJ>G:9ID8DBEA:I:68DCIG68II=:EGD;>I67>A>IND;DJG8DCIG68IHB6N7:B6I:G>6AAN6C969K:GH:AN

6;;:8I:9

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7N6BJIJ6AAN688:EI67A:I=>G9E6GIN-=:7:C8=B6G@>C<EGD8:HHINE>86AAN8DBE6G:HI=:8DCIG68IJ6AEG>8:D;

H:GK>8:H6<6>CHII=:EG>8:D;H>B>A6GH:GK>8:HD;;:G:97NDI=:GHE:8>;>:9EGDK>9:GH>C6E::G8DBE6G>HDC<GDJE

HJ7?:8IID6<G::9JEDC69?JHIB:CI6C9CDGB6A>O6I>DC;68IDGH :C:G6AAN>;I=:7:C8=B6G@>C<HIJ9NH=DLHI=6I

I=:EG>8>C<9>;;:GH;GDBI=:E::G<GDJEDJIH>9:6HE:8>;>:9G6C<:6C9I=:9>;;:G:C8:>HCDI9J:IDI=:JC>FJ:

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I=DH:EG>8>C<69?JHIB:CIHL=>8=8DJA9=6GBI=:;>C6C8>6AE:G;DGB6C8:D;DJGH:GK>8:H7JH>C:HH

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I=GDJ<=7>AA>C<HDK:GI=:A>;:D;I=:6<G::B:CI-=:H:6<G::B:CIHD;I:C>CKDAK:I=:8DCHIGJ8I>DCD;C:L"-HNHI:BH

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E:G;DGB6C8:G>H@:M>HIH>C:68=6<G::B:CIL>I=I=:H:8=6G68I:G>HI>8H6C9HDB:DG6AA:A:B:CIHD;H:GK>8:9:A>K:GN

JC9:GI=:H:6<G::B:CIH6G:9:E:C9:CIJEDCHJ88:HH;JA8DBEA:I>DCD;I=:9:K:ADEB:CI8DCHIGJ8I>DC6C9

9:EADNB:CIE=6H:H6>AJG:IDE:G;DGBH6I>H;68IDG>ANJC9:GI=:H:6<G::B:CIHB6N:MEDH:JHIDA:<6AA>67>A>IN

G:HJAI>CI=:ADHHD;8JHIDB:GHDG=6GBDJGG:EJI6I>DCL=>8=8DJA9=6GBI=:;>C6C8>6AE:G;DGB6C8:D;DJG"-

H:GK>8:H7JH>C:HH

!-:.7:5)6+-=6,-:+76<:)+<;16+4=,16/<07;-76?01+0?-0)>-8):<6-:-,?1<0<01:,8):<1-;5)A*-

),>-:;-4A)..-+<-,1.?-7:<0-<01:,8):<1-;.)14<7,-41>-:76+7551<5-6<;7:7<0-:?1;-*:-)+0

7*41/)<176;<77=:+=;<75-:;

(JG8DCIG68IH6G:8DBEA:M6C9>CHDB:>CHI6C8:HB6NG:FJ>G:I=6IL:E6GIC:GL>I=DI=:GE6GI>:H>C8AJ9>C<

HD;IL6G:6C9=6G9L6G:K:C9DGHIDEGDK>9:I=:8DBEA:MHDAJI>DCHG:FJ>G:97NDJG8JHIDB:GH(JG67>A>INID9:A>K:G

I=:HDAJI>DCH6C9EGDK>9:I=:H:GK>8:HG:FJ>G:97NDJG8JHIDB:GH>H9:E:C9:CIDCDJG6C9DJGE6GIC:GH67>A>INID

B::IDJG8JHIDB:GH9:A>K:GNH8=:9JA:HL=>8=>H6;;:8I:97N6BJAI>IJ9:D;;68IDGH>C8AJ9>C<8A>B6I:8=6C<:";

L:DGDJGE6GIC:GH;6>AID9:A>K:GH:GK>8:HDGEGD9J8IHDCI>B:DJG67>A>INID8DBEA:I:I=:8DCIG68IB6N7:

69K:GH:AN6;;:8I:9";6CNI=>G9E6GINEGDK>9:GHJC:ME:8I:9ANI:GB>C6I:DJG6<G::B:CIL:LDJA97:;DG8:9ID>C8JG



699>I>DC6A:ME:CH:HIDAD86I:6AI:GC6I>K:EGDK>9:GH6C9B6N:ME:G>:C8:DJI6<:HDG9>HGJEI>DCHIDDJGH:GK>8:"C

699>I>DCB6CNEJ7A>88ADJ9>C;G6HIGJ8IJG:EGDK>9:GH=6K:6AHD:CI:G:9>CIDHIG6I:<>8E6GIC:GH=>EHL>I=DJG

8DBE:I>IDGH-=:H:6AA>6C8:HB6NG:HJAI>CBDG:8DBE:AA>C<EGD9J8I6C9H:GK>8:D;;:G>C<HI=6CI=DH:L:D;;:G

99>I>DC6AANDJG8JHIDB:GHB6NE:G;DGB6J9>IHDGG:FJ>G:JHIDE:G;DGB6J9>IH6C9EGDK>9:6J9>IG:EDGIHL>I=

G:HE:8IIDI=:8DCIGDAH6C9EGD8:9JG:HI=6IL:JH:>CI=:E:G;DGB6C8:D;H:GK>8:H;DGHJ8=8JHIDB:GH(JG67>A>IN

ID68FJ>G:C:L8JHIDB:GH6C9G:I6>C:M>HI>C<8JHIDB:GHB6N7:69K:GH:AN6;;:8I:96C9DJGG:EJI6I>DC8DJA97:

=6GB:9>;L:G:8:>K:6FJ6A>;>:9DE>C>DCDG>;L:86CCDID7I6>C6CJCFJ6A>;>:9DE>C>DC>C6I>B:ANB6CC:GL>I=

G:HE:8IIDDJG8DCIGDAH6C9EGD8:9JG:H>C8DCC:8I>DCL>I=6CNHJ8=6J9>I0:8DJA96AHD>C8JGA>67>A>IN>;DJG

8DCIGDAH6C9EGD8:9JG:HDGI=:8DCIGDAH6C9EGD8:9JG:HL:B6C6<:;DG68JHIDB:GL:G:IDG:HJAI>C6C>CI:GC6A

8DCIGDA;6>AJG:DG>BE6>GDJG8JHIDB:GTH67>A>INID8DBEANL>I=>IHDLC>CI:GC6A8DCIGDAG:FJ>G:B:CIH";L:DGDJG

E6GIC:GH;6>AIDB::IDJG8DCIG68IJ6AD7A><6I>DCHDGDI=:GL>H:7G:68=D7A><6I>DCHIDDJG8JHIDB:GHL:8DJA97:

HJ7?:8IIDA:<6AA>67>A>INL=>8=B6N=6K:6B6I:G>6A6C969K:GH:>BE68IDCDJGG:K:CJ:H6C9EGD;>I67>A>IN

'-):-;=*2-+<<7);-:1-;7.:1;3;:-4)<16/<7+415)<-+0)6/-)6,6)<=:)4,1;);<-:;?01+05)A)..-+<7=:

?7:4,?1,-*=;16-;;78-:)<176;)6,.16)6+1)4:-;=4<;

-=:G:6G:>C=:G:CI8A>B6I:G:A6I:9G>H@HL=:G:K:G7JH>C:HH>H8DC9J8I:9A>B6I:8=6C<:>C8G:6H:H7DI=I=:

;G:FJ:C8N6C9H:K:G>IND;B:I:DGDAD<>86AE=:CDB:C6:MIG:B:L:6I=:G:K:CIH6C9C6IJG6A9>H6HI:GH>C8AJ9>C<

7JICDIA>B>I:9IDHIDGBH;ADD9>C<9GDJ<=IL>A9;>G:6C9:MIG:B:I:BE:G6IJG:HI=6IB6N6;;:8IDJGLDGA9L>9:

7JH>C:HHDE:G6I>DCHDGI=DH:D;DJGHJEEA>:GHG:FJ>G:JHID>C8JG699>I>DC6ADE:G6I>C<DG86E>I6A:ME:C9>IJG:HDG

DI=:GL>H:69K:GH:AN>BE68IDJG7JH>C:HH;>C6C8>6A8DC9>I>DCDGG:HJAIHD;DE:G6I>DCHA>B6I:8=6C<:B6N>BE68I

I=:;G:FJ:C8N6C9DG>CI:CH>IND;HJ8=:K:CIH6HL:AA6H8DCIG>7JI:ID8=GDC>8E=NH>86A8=6C<:HHJ8=6HH=>;I>C<

EG:8>E>I6I>DCDGI:BE:G6IJG:E6II:GCHDGG>H>C<H:6A:K:AHL=>8=B6N6AHD>BE68IDJGDE:G6I>DCHDG>C;G6HIGJ8IJG:

DCL=>8=L:G:AN0:=6K:;68>A>I>:H6GDJC9I=:LDGA96C9DJG;68>A>I>:HDJG:BEADN::HT67>A>INIDLDG@DGDJG

HJEEAN8=6>CB6N7:>BE68I:97N8A>B6I:8=6C<:G:A6I:9L:6I=:G:K:CIHDG:;;:8IH>C8AJ9>C<C6IJG6A9>H6HI:GH

"C8G:6H>C<I:BE:G6IJG:HG:HJAI>C<;GDB<AD76AL6GB>C<8DJA9A:69ID>C8G:6H>C<:C:G<N8DHIH6C9JC;6KDG67A:

DE:G6I>C<8DHI>BE68IH6HL:AA6H:MIG:B:L:6I=:G:K:CIHI=6I8DJA986JH:ADHHD;EDL:GDGL6I:G688:HHID96I6

8:CI:GH6C9H:GK>8:9>HGJEI>DCHG:HJAI>C<>C8DCIG68IJ6A;>C:HDGADHHD;7JH>C:HH&6CND;DJG96I68:CI:GHG:FJ>G:

L6I:G;DG8DDA>C<EJGEDH:H6C9H:K:G:9GDJ<=IHDGDI=:G:MIG:B:L:6I=:G:K:CIHDG6IBDHE=:G>88=6C<:HI=6I

G:HJAI>CL6I:GH86G8>INE6GI>8JA6GAN>C=><=HIG:HHL6I:G6G:6H8DJA969K:GH:AN>BE68IDJG67>A>INID8DCI>CJ:ID

DE:G6I:DGJI>A>O:96I68:CI:GHI=6IL:DLCDGA:6H:99>I>DC6AANDJG8JHIDB:GHT;68>A>I>:HB6N7:>BE68I:97N

8A>B6I:8=6C<:G:A6I:9L:6I=:G:K:CIHDG:;;:8IHL=>8=B6N>BE68IDJG67>A>INIDH:GK:DJG8JHIDB:GH0=>A:L:

B6NI6@:K6G>DJH68I>DCHIDB>I><6I:DJG7JH>C:HHG>H@H6HHD8>6I:9L>I=8A>B6I:8=6C<:I=>HB6NG:FJ>G:JHID

>C8JGHJ7HI6CI>6A8DHIH6C9B6NCDI7:HJ88:HH;JA9J:ID6BDC<DI=:GI=>C<HI=:JC8:GI6>CIN6HHD8>6I:9L>I=I=:

ADC<:GI:GBEGD?:8I>DCH6HHD8>6I:9L>I=B6C6<>C<8A>B6I:G>H@HCND;I=:;DG:<D>C<8DJA9=6K:6B6I:G>6A

69K:GH::;;:8IDCDJG;>C6C8>6A8DC9>I>DC6C9G:HJAIHD;DE:G6I>DCH

99>I>DC6AANL::ME:8IID7:HJ7?:8IID>C8G:6H:9G:<JA6I>DCHG:EDGI>C<G:FJ>G:B:CIHHI6C96G9HDG:ME:8I6I>DCH

G:<6G9>C<I=::CK>GDCB:CI6A>BE68IHD;DJG7JH>C:HHDGBDG:>C;DGB6I>DCH::DJGG>H@;68IDGU(JG7JH>C:HH

DE:G6I>DCH6G:HJ7?:8IIDK6G>DJH6C98=6C<>C<;:9:G6AHI6I:AD86A6C9;DG:><CA6LH6C9G:<JA6I>DCHI=6I8DJA9

G:HJAI>C8DHIHDGH6C8I>DCHI=6I69K:GH:AN6;;:8IDJG7JH>C:HH6C9G:HJAIHD;DE:G6I>DCH,D8>6A6C9:CK>GDCB:CI6A

G:HEDCH>7>A>ING:<JA6I>DCHEDA>8>:H6C9EGDK>H>DCH6HL:AA6H8JHIDB:G6C9>CK:HIDG9:B6C9HB6N69K:GH:AN

6;;:8IDJGG:A6I>DCH=>EHL>I=8JHIDB:GH6C9>CK:HIDGHV

6+:-);-,;+:=<16A7.)6,->74>16/-@8-+<)<176;.7:;=;<)16)*141<A)6,#161<1)<1>-;+7=4,16+:-);-7=:

+7;<;0):57=::-8=<)<1767:7<0-:?1;-),>-:;-4A158)+<7=:*=;16-;;

0:6HL>I=DI=:G8DBE6C>:H6G:;68>C<>C8G:6H>C<H8GJI>CNG:A6I:9IDDJG, EG68I>8:H6C99>H8ADHJG:H;GDB

8:GI6>C>CK:HIDGH86E>I6AEGDK>9:GHH=6G:=DA9:G69KD868N<GDJEHDI=:GB6G@:IE6GI>8>E6CIH8JHIDB:GH6C9DI=:G

HI6@:=DA9:G<GDJEH0>I=I=>H>C8G:6H:9;D8JHEJ7A>8G:EDGI>C<G:<6G9>C<, EG68I>8:H>H7:8DB>C<BDG:

7GD69AN:ME:8I:9,J8=>C8G:6H:9H8GJI>CNB6NG:HJAI>C>C8G:6H:98DHIH:C=6C8:98DBEA>6C8:DG9>H8ADHJG:

D7A><6I>DCHDGDI=:G69K:GH:>BE68IHDCDJG7JH>C:HH;>C6C8>6A8DC9>I>DCDGG:HJAIHD;DE:G6I>DCH



0=>A:L:=6K:>CI=:E6HI6C9B6N6II>B:H8DCI>CJ:ID:C<6<:>CKDAJCI6GN>C>I>6I>K:HHJ8=6HKDAJCI6GN

9>H8ADHJG:H8:GI>;>86I>DCHDG<D6AH6BDC<DI=:GHHJ8=>C>I>6I>K:HB6N7:8DHIAN6C9B6NCDI=6K:I=:9:H>G:9

:;;:8IDG:M6BEA::ME:8I6I>DCH6GDJC98DBE6CNTHB6C6<:B:CID;, B6II:GH8DCI>CJ:ID:KDAK:G6E>9AN>C

B6CN>CHI6C8:H9J:ID;68IDGHI=6I6G:DJID;DJG8DCIGDA"C699>I>DCL:B6N8DBB>IID8:GI6>C>C>I>6I>K:HDG<D6AH

6C9L:B6NCDIJAI>B6I:AN68=>:K:HJ8=8DBB>IB:CIHDG<D6AH9J:ID8DHII:8=CDAD<>86A8DCHIG6>CIHDGDI=:G

;68IDGHI=6I6G:L>I=>CDGDJIH>9:D;DJG8DCIGDA:GI6>CD;DJG8DBB>IB:CIH<D6AH6C9DI=:G, G:A6I:9

9>H8ADHJG:H6G:76H:9DC:HI>B6I:H>C8AJ9>C<;DG:M6BEA:DJGG>H@8DHI:HI>B6I:H9>H8ADH:9>CDJGKDAJCI6GN

8A>B6I:8=6C<:9>H8ADHJG:H6C9:K:CI=DJ<=L:8JGG:CIAN9DCDI:ME:8IHJ8=8DHIHID7:B6I:G>6AI=:NB6N

6IIG68IG:<JA6IDGNDGHI6@:=DA9:G6II:CI>DCDGG:HJAI>C699>I>DC6A9>H8ADHJG:G:FJ>G:B:CIH>CI=:;JIJG:&DG:DK:G

68I>DCHDGHI6I:B:CIHI=6IL:B6NI6@:76H:9DC:ME:8I6I>DCH6HHJBEI>DCHDGI=>G9E6GIN>C;DGB6I>DCI=6IL:

8JGG:CIAN7:A>:K:ID7:G:6HDC67A:B6NHJ7H:FJ:CIAN7:9:I:GB>C:9ID7::GGDC:DJHDGCDI>C@::E>C<L>I=

E6GI>8JA6GHI6C96G9HDG7:HIEG68I>8:HDG7:HJ7?:8IIDB>H>CI:GEG:I6I>DCK:C>;I=>H>HCDII=:86H:DJG8JGG:CI

68I>DCHB6NHJ7H:FJ:CIAN7:9:I:GB>C:9ID7:>CHJ;;>8>:CI7NK6G>DJHHI6@:=DA9:GH";DJG, EG68I>8:H6C9

G:EDGI>C<9DCDIB::I>CK:HIDG8DCHJB:G:BEADN::DGDI=:GHI6@:=DA9:G:ME:8I6I>DCHL=>8=8DCI>CJ:ID:KDAK:

DJG7G6C9G:EJI6I>DC6C98JHIDB:GG:I:CI>DCB6N7:C:<6I>K:AN>BE68I:96C9L:B6N7:HJ7?:8IID>CK:HIDGDG

G:<JA6IDG:C<6<:B:CIG:<6G9>C<HJ8=B6II:GH:K:C>;I=:N6G:8JGG:CIANKDAJCI6GN:GI6>CB6G@:IE6GI>8>E6CIH

>C8AJ9>C<B6?DG>CHI>IJI>DC6A>CK:HIDGHJH:I=>G9E6GIN7:C8=B6G@HDGH8DG:HIDB:6HJG:DJG, EG68I>8:H>C

B6@>C<>CK:HIB:CI6C9KDI>C<9:8>H>DCHH, 7:HIEG68I>8:HG:EDGI>C<HI6C96G9H6C99>H8ADHJG:G:FJ>G:B:CIH

8DCI>CJ:ID9:K:ADEL:B6N>C8JG>C8G:6H>C<8DHIHG:A6I:9ID, BDC>IDG>C<6C9G:EDGI>C<,>BJAI6C:DJHAN

I=:G:6G::;;DGIH7NHDB:HI6@:=DA9:GHIDG:9J8:8DBE6C>:HT:;;DGIHDC8:GI6>C, G:A6I:9B6II:GHDI=

69KD86I:H6C9DEEDC:CIHID8:GI6>C, B6II:GH6G:>C8G:6H>C<ANG:HDGI>C<ID6G6C<:D;68I>K>HB;DGBH>C8AJ9>C<

B:9>686BE6><CH6C9A>I><6I>DCID69K6C8:I=:>GE:GHE:8I>K:H"C699>I>DCC:LHJHI6>C67>A>INGJA:H6C9G:<JA6I>DCH

=6K:7::C69DEI:96C9B6N8DCI>CJ:ID7:>CIGD9J8:9>CK6G>DJH?JG>H9>8I>DCH,JHI6>C67>A>IN6C9, G:A6I:9

G:<JA6I>DCH6G::KDAK>C<G6E>9AN6C9DE:G6I>C<>CBDG:I=6CDC:?JG>H9>8I>DC>HA>@:ANIDB6@:DJG8DBEA>6C8:L>I=

, 6C9HJHI6>C67>A>ING:A6I:9GJA:HBDG:8DBEA:M6C9:ME:CH>K:6C9EDI:CI>6AAN:MEDH:JHID<G:6I:GA:K:AHD;

A:<6AG>H@H6HHD8>6I:9L>I=DJG8DBEA>6C8:(JG;6>AJG:DG>C67>A>INID8DBEANL>I=6CN6EEA>867A:GJA:HDG

G:<JA6I>DCH8DJA9A:69IDE:C6AI>:H6C969K:GH:AN>BE68IDJGG:EJI6I>DC8JHIDB:G6IIG68I>DC6C9G:I:CI>DC688:HH

ID86E>I6A6C9:BEADN::G:I:CI>DC,J8=, B6II:GHB6N6AHD>BE68IDJGHJEEA>:GH6C98JHIDB:GHL=>8=B6N

6J<B:CIDG86JH:699>I>DC6A>BE68IHDCDJG7JH>C:HH;>C6C8>6A8DC9>I>DCDGG:HJAIHD;DE:G6I>DCH

=:)*141<A<78:7>1,-+=;<75-:;?1<0+758-<1<1>-;-:>1+-;1;,-8-6,-6<767=:)*141<A<7)<<:)+<)6,:-<)16

9=)41.1-,8-:;766-4

(JG67>A>INID<GDL6C9EGDK>9:DJG8JHIDB:GHL>I=8DBE:I>I>K:H:GK>8:H>HE6GI>6AAN9:E:C9:CIDCDJG67>A>INID

6IIG68I6C9G:I6>C=><=ANBDI>K6I:9E:DEA:L>I=I=:H@>AAHC:8:HH6GNIDH:GK:DJG8JHIDB:GHH8DBE:I>I>DC;DG

=><=ANH@>AA:9:BEADN::H>CDJG>C9JHIGN=6H<GDLC>C8G:6H>C<AN>CI:CH:L:=6K::ME:G>:C8:96C9B6N

:ME:G>:C8:>CI=:;JIJG:=><=:GI=6C6CI>8>E6I:9A:K:AHD;:BEADN::6IIG>I>DC-=:H:G>H@HID6IIG68I>C<6C9

G:I6>C>C<I=:C:8:HH6GNI6A:CIB6N7::M68:G76I:97NA67DG8DCHIG6>CIH6C9>C;A6I>DC6GNEG:HHJG:HDC:BEADN::

L6<:H6C97:C:;>IH99>I>DC6AANL:B6N7:JC67A:ID=>G:DGG:I6>CI6A:CIL=D6G:IG6>C:9>C6GI>;>8>6A>CI:AA><:C8:

B68=>C:A:6GC>C<6C969K6C8:96A<DG>I=BHID@::EE68:L>I=I=:G6E>96C98DCI>CJDJHI:8=CDAD<>86A8=6C<:H>C

DJG>C9JHIGN"BB><G6I>DCA6LH>CI=:8DJCIG>:H>CL=>8=L:DE:G6I:6G:HJ7?:8IIDA:<>HA6I>K:8=6C<:H6HL:AA6H

IDK6G>6I>DCH>CI=:HI6C96G9HD;6EEA>86I>DC6C9:C;DG8:B:CI9J:IDEDA>I>86A;DG8:H6C9:8DCDB>88DC9>I>DCH

=6C<:H>C>BB><G6I>DCA6LHDGK6GN>C<6EEA>86I>DCHD;>BB><G6I>DCA6LHIDA>B>II=:6K6>A67>A>IND;8:GI6>CLDG@

K>H6H>CI=:.,B6N>BE68IDJG67>A>INID=>G:I6A:CII=6IL:C::9ID:C=6C8:DJGEGD9J8IH6C9H:GK>8:H6C9;DG

DJGDE:G6I>DCH"I>H6AHD9>;;>8JAIIDEG:9>8II=:EDA>I>86A6C9:8DCDB>8:K:CIHI=6I8DJA96;;:8I>BB><G6I>DCA6LHDG

I=:G:HIG>8I>K:>BE68II=:N8DJA9=6K:DCD7I6>C>C<DGG:C:L>C<LDG@K>H6H;DGDJG>CI:GC6I>DC6AE:GHDCC:A-=:

ADHHD;E:GHDCC:A8DJA9>BE6>GDJG67>A>INIDE:G;DGBJC9:G8:GI6>C8DCIG68IHL=>8=8DJA9=6K:6B6I:G>6A69K:GH:

:;;:8IDCDJG8DCHDA>96I:9;>C6C8>6AEDH>I>DCG:HJAIHD;DE:G6I>DCH6C986H=;ADLH

99>I>DC6AANI=:>C67>A>INID69:FJ6I:AN9:K:ADE6C9IG6>CE:GHDCC:A6C96HH>B>A6I:@:NC:L=>G:HDGEGDBDI:9

:BEADN::H8DJA9=6K:6B6I:G>6A69K:GH::;;:8IDCG:A6I>DCH=>EHL>I=I=>G9E6GI>:HDJG;>C6C8>6A8DC9>I>DC6C9

G:HJAIHD;DE:G6I>DCH6C986H=;ADLH



0:6AHDBJHIB6C6<:A:69:GH=>E9:K:ADEB:CI6C9HJ88:HH>DCEA6CC>C<I=GDJ<=DJIDJG7JH>C:HHCNH><C>;>86CI

A:69:GH=>E8=6C<:6C9688DBE6CN>C<H:C>DGB6C6<:B:CIIG6CH>I>DC>CKDAK:H>C=:G:CIG>H@6C96CN;6>AJG:ID

:CHJG:6HBDDI=IG6CH>I>DC8DJA9=>C9:GDJGHIG6I:<>8EA6CC>C<:M:8JI>DC6C9;JIJG:E:G;DGB6C8:0=>A:L:HIG>K:

IDB>I><6I:I=:C:<6I>K:>BE68I6HHD8>6I:9L>I=8=6C<:HIDDJGH:C>DGB6C6<:B:CII:6BHJ8=8=6C<:HB6N

86JH:JC8:GI6>CIN6BDC<>CK:HIDGH:BEADN::H8JHIDB:GH8G:9>IDGH6C9DI=:GH8DC8:GC>C<DJG;JIJG:9>G:8I>DC

6C9E:G;DGB6C8:";L:;6>AID:;;:8I>K:ANB6C6<:DJGA:69:GH=>E8=6C<:H>C8AJ9>C<DC<D>C<DG<6C>O6I>DC6A6C9

HIG6I:<>88=6C<:HDJG7JH>C:HH;>C6C8>6A8DC9>I>DCG:HJAIHD;DE:G6I>DCH86H=;ADLH6C9G:EJI6I>DC6HL:AA6H

DJG67>A>INIDHJ88:HH;JAAN6IIG68IBDI>K6I:6C9G:I6>C@:N:BEADN::H8DJA97:=6GB:9

"C699>I>DCJC8:GI6>CIN6GDJC9;JIJG::BEADNB:CIDEEDGIJC>I>:H;68>A>INAD86I>DCHDG<6C>O6I>DC6A6C9G:EDGI>C<

HIGJ8IJG:H6C9DI=:GG:A6I:98DC8:GCHB6N>BE6>GDJG67>A>INID6IIG68I6C9G:I6>CFJ6A>;>:9E:GHDCC:A";:BEADN::

6IIG>I>DC>H=><=>IB6N69K:GH:AN>BE68IDJG67>A>INIDG:6A>O:I=:6CI>8>E6I:97:C:;>IHD;DJGHIG6I:<>8EG>DG>I>:H

";L:9DCDI=>G:IG6>CBDI>K6I:6C9:;;:8I>K:ANJI>A>O::BEADN::HL>I=I=:G><=IB>MD;H@>AAH6C9:ME:G>:C8:>CI=:

G><=I<:D<G6E=>8G:<>DCH6C9;DGI=:G><=ID;;:G>C<HIDB::II=:C::9HD;DJG8JHIDB:GHDJG;>C6C8>6AE:G;DGB6C8:

6C986H=;ADLH8DJA9HJ;;:GDG:M6BEA:>;DJG:BEADN::JI>A>O6I>DCG6I:>HIDDADLDJGEGD;>I67>A>IN6C9I=:A:K:A

D;:C<6<:B:CID;DJG:BEADN::H8DJA99:8G:6H:";I=6IJI>A>O6I>DCG6I:>HIDD=><=>I8DJA9=6K:6C69K:GH::;;:8I

DC:BEADN:::C<6<:B:CI6C96IIG>I>DC6C9I=:FJ6A>IND;I=:LDG@E:G;DGB:96HL:AA6HDJG67>A>INIDHI6;;

EGD?:8IH";L:6G:JC67A:ID=>G:6C9G:I6>C:CDJ<=:BEADN::HL>I=I=:H@>AAHDG768@<GDJC9HC::9:9IDB::I

8JGG:CI9:B6C9L:B6NC::9IDG:9:EADN:M>HI>C<E:GHDCC:A>C8G:6H:DJGG:A>6C8:DCHJ78DCIG68IDGHDG>C8G:6H:

:BEADN::8DBE:CH6I>DCA:K:AH6AAD;L=>8=8DJA96AHDC:<6I>K:AN6;;:8IDJGEGD;>I67>A>IN"C699>I>DC>;L:=6K:

BDG::BEADN::HI=6CC:8:HH6GNL>I=8:GI6>CH@>AAH:IHDG>C8:GI6>C<:D<G6E=>:HL:B6N>C8JG>C8G:6H:98DHIH6H

L:LDG@IDG:76A6C8:DJGHJEEAND;H@>AAH6C9G:HDJG8:HL>I=8JHIDB:G9:B6C9>CI=DH:<:D<G6E=>:H

(JG7JH>C:HH>HEG>B6G>ANCDCJC>DC>O:97JIL:=6K:JC>DCH6C9LDG@H8DJC8>AH>CJGDE:JHIG6A>6,DJI=

$DG:6,DJI=B:G>866C96C696L=>8=;GDBI>B:IDI>B:B6N8DCHIG6>CDJGDE:G6I>DC6A;A:M>7>A>IN6C9:;;>8>:C8N

>C>BEA:B:CI>C<7JH>C:HH9:8>H>DCH6C9>CIGD9J8>C<C:LI:8=CDAD<>:HIDDAHDGEGD8:HH:HL>I=>CDJG9:H>G:9

I>B:;G6B:8I>K>HBD;:BEADN::EDEJA6I>DCH8DJA9G:HJAI>C=><=:G8DHIH6C9DE:G6I>DC6A8=6C<:HID:HI67A>H=

C:LG:A6I>DCH=>EHL>I=LDG@:GG:EG:H:CI6I>K:H

!:7476/-,8-:17,;7.16.4)<1760)>-)6),>-:;--..-+<76/-6-:)4-+76751++76,1<176;)6,+76;=5-:

*=,/-<16/?01+0+7=4,158)+<7=:8:7.1<)*141<A)6,0)>-)5)<-:1)4),>-:;--..-+<767=:*=;16-;;)6,

:-;=4<;7.78-:)<176;-;8-+1)44A.7:+=;<75-:+76<:)+<;?0-:-?-,767<0)>-),-9=)<-16.4)<176

8:7<-+<176;

0:<:C:G6AANEGDK>9:H:GK>8:HJC9:GI>B:6C9B6I:G>6AH8DCIG68IHJC>IEG>8:8DCIG68IH;>M:9EG>8:8DCIG68IH6C9

BJAI>EA::A:B:CIHD;IL6G:H6A:H"CB6CND;DJG8DCIG68IHL:7:6GI=:G>H@D;8DHIDK:GGJCH8DBEA:I>DC9:A6NH

G:HDJG8:G:FJ>G:B:CIHL6<:>C;A6I>DC6C969K:GH:BDK:B:CIH>C:M8=6C<:G6I:H>C8DCC:8I>DCL>I=I=:H:

8DCIG68IH:GI6>C7JICDI6AAD;I=:H:8DCIG68IHEGDK>9:;DGEG>8:69?JHIB:CIH;DG>C;A6I>DCDG67CDGB6A:H86A6I>DC

!DL:K:G>;DC:DGBDG:G6LB6I:G>6AHDG8DBEDC:CIH;DGDJGEGD9J8IH:<H:B>8DC9J8IDGHL:G:ID:ME:G>:C8:

6C>HDA6I:9EG>8:>C8G:6H:L>I=DJI>C;A6I>DC6GN>BE68IHDCI=:7GD69:G:8DCDBNL:B6NCDI7::CI>IA:9ID>C;A6I>DC

EGDI:8I>DCJC9:GI=DH:8DCIG68IH

"C;A6I>DC6C9<DK:GCB:CI:;;DGIHID8DB76I>C;A6I>DC8DJA9>C8G:6H:B6G@:IKDA6I>A>IN6C9=6K:6C69K:GH::;;:8IDC

I=:;>C6C8>6AB6G@:I6C9<:C:G6A:8DCDB>88DC9>I>DCH"C6I>B:D;JC8:GI6>CINDJG8JHIDB:GHB6NG:9J8:

HE:C9>C<DG=6K:9>;;>8JAIN>C7J9<:I>C<;DG:MI:GC6A"-H:GK>8:H9:A6NEGD8JG:B:CID;EGD9J8IH6C9H:GK>8:H;GDB

JHDG9:A6NI=:>GE6NB:CI;DGEGD9J8IH6C9H:GK>8:HL:=6K:6AG:69NEGDK>9:96C9L:B6N=6K:9>;;>8JAIN8ADH>C<

C:L9:6AH>CI=::K:CID;6C:8DCDB>8HADL9DLC6AAD;L=>8=8DJA969K:GH:AN6;;:8IDJGEGD;>I67>A>ING:HJAIHD;

DE:G6I>DCH6C986H=;ADL



=:16<-:6)<176)478-:)<176;):--@87;-,<7:1;3;16+4=,16/.4=+<=)<176;16-@+0)6/-:)<-;?01+05)A*-

*-A76,7=:+76<:74

(JG:MEDHJG:ID8JGG:C8>:HDI=:GI=6CI=:.,9DAA6GB6N>BE68IDJGG:HJAIH6HI=:N6G::MEG:HH:9>C.,

9DAA6GHJGG:C8NK6G>6I>DCH6AHD8DCIG>7JI:IDK6G>6I>DCH>CH6A:HD;EGD9J8IH6C9H:GK>8:H>C6;;:8I:9?JG>H9>8I>DCH

0=>A:=>HIDG>86AANL:=6K:E6GI>6AANB>I><6I:98JGG:C8NG>H@>C8AJ9>C<:MEDHJG:ID;AJ8IJ6I>DCH>C8JGG:C8N

:M8=6C<:G6I:H7NB6I8=>C<8DHIHL>I=G:K:CJ:H>C6<>K:C8JGG:C8NDJG:MEDHJG:ID;AJ8IJ6I>DCH>CDI=:G

8JGG:C8>:H6<6>CHII=:.,9DAA6G>C8G:6H:H6HG:K:CJ:>C8JGG:C8>:HDI=:GI=6CI=:.,9DAA6G>C8G:6H:H

EEGDM>B6I:AND;G:K:CJ:H:6GC:99JG>C<;>H86AL:G:9:G>K:9;GDBH6A:H9:CDB>C6I:9>C8JGG:C8>:H

DI=:GI=6CI=:.,9DAA6G6C96G::ME:8I:9ID8DCI>CJ:IDG:EG:H:CI6H><C>;>86CIEDGI>DCD;DJGG:K:CJ:HAHDL:

7:A>:K:I=6IDJG67>A>INIDB6I8=G:K:CJ:H6C9:ME:CH:H>C6<>K:C8JGG:C8NL>AA9:8G:6H:6HBDG:LDG@>H

E:G;DGB:96ID;;H=DG:AD86I>DCHI=6IJH:69>;;:G:CI8JGG:C8N;GDBL=:G:L:<:C:G6I:DJGG:K:CJ:

0:B6NJH:;DGL6G96C9DEI>DC8DCIG68IHIDEGDI:8I6<6>CHI8JGG:C8N:M8=6C<:G6I:G>H@H-=::;;:8I>K:C:HHD;

I=:H:=:9<:HL>AA9:E:C9DCDJG67>A>INID688JG6I:AN;DG:86HI;JIJG:86H=;ADLHL=>8=B6N7:E6GI>8JA6GAN9>;;>8JAI

9JG>C<E:G>D9HD;JC8:GI6>C9:B6C96C9=><=ANKDA6I>A::M8=6C<:G6I:H0:B6N>C8JGH><C>;>86CIADHH:H;GDBDJG

=:9<>C<68I>K>I>:H9J:ID;68IDGHHJ8=6H9:B6C9KDA6I>A>IN6C98JGG:C8NK6G>6I>DCH"C699>I>DC8:GI6>CDG6AAD;DJG

=:9<>C<68I>K>I>:HB6N7:>C:;;:8I>K:B6N:ME>G:6C9CDI7:G:C:L:9DGB6NCDID;;H:II=:69K:GH:;>C6C8>6A

>BE68IG:HJAI>C<;GDB8JGG:C8NK6G>6I>DCH%DHH:H6HHD8>6I:9L>I==:9<>C<68I>K>I>:HB6N6AHD>BE68IDJGG:K:CJ:H

6C9ID6A:HH:G:MI:CIDJG8DHID;H6A:H6C9;>C6C8>6A8DC9>I>DC

(JG;JIJG:7JH>C:HH6C9;>C6C8>6AE:G;DGB6C8:8DJA9HJ;;:G9J:ID6K6G>:IND;>CI:GC6I>DC6A;68IDGH>C8AJ9>C<

W DC<D>C<>CHI67>A>INDG8=6C<:H>C68DJCIGNTHDGG:<>DCTH:8DCDB>8DG<:DEDA>I>86A6C9H:8JG>IN8DC9>I>DCH

>C8AJ9>C<>C;A6I>DCG:8:HH>DC>CI:G:HIG6I:;AJ8IJ6I>DCH6C968IJ6ADG6CI>8>E6I:9B>A>I6GNDGEDA>I>86A

8DC;A>8I8>K>AJCG:HI8G>B:EDA>I>86A>CHI67>A>IN=JB6CG><=IH8DC8:GCH6C9I:GGDG>HI68I>K>IN

W C6IJG6ADGB6CB69:9>H6HI:GH>C9JHIG>6A688>9:CIHEJ7A>8=:6AI=>HHJ:H8N7:GH:8JG>IN>C8>9:CIH

>CI:GGJEI>DCHD;H:GK>8:;GDBJI>A>I>:HIG6CHEDGI6I>DCDGI:A:8DBBJC>86I>DCHEGDK>9:GHDGDI=:G86I6HIGDE=>8

:K:CIH

W ADC<:G8DAA:8I>DC8N8A:H6C9;>C6C8>6A>CHI67>A>IN6BDC<8JHIDB:GH

W IG69:G:<JA6I>DCH6C9EGD8:9JG:H6C968I>DCH6;;:8I>C<EGD9J8I>DCEG>8>C<6C9B6G@:I>C<D;EGD9J8IH

>C8AJ9>C<EDA>8>:H69DEI:97N8DJCIG>:HI=6IB6N8=6BE>DCDGDI=:GL>H:;6KDG9DB:HI>88DBE6C>:H6C9

I:8=CDAD<>:HDK:G;DG:><C8DBE:I>IDGH

W AD86AA67DG8DC9>I>DCH6C9G:<JA6I>DCH

W B6C6<>C<DJG<:D<G6E=>86AAN9>HE:GH:9LDG@;DG8:

W 8=6C<:H>CI=:>CI:GC6I>DC6AC6I>DC6ADGAD86AG:<JA6IDGN6C9A:<6A:CK>GDCB:CIH

W 9>;;:G>C<I:8=CDAD<NHI6C96G9HDG8JHIDB:GG:FJ>G:B:CIH

W 9>;;>8JAI>:H6HHD8>6I:9L>I=G:E6IG>6I>C<:6GC>C<H<:C:G6I:9DG=:A967GD69>C6I6M:;;>8>:CIB6CC:G6C9

W 8=6C<:H>CI6MA6LH

=:*=;16-;;78-:)<176;):-;=*2-+<<7>):17=;)6,+0)6/16/.-,-:)4;<)<-47+)4)6,.7:-1/64)?;)6,

:-/=4)<176;<0)<+7=4,:-;=4<16+7;<;7:;)6+<176;<0)<),>-:;-4A)..-+<7=:*=;16-;;)6,:-;=4<;7.

78-:)<176;#7+1)4)6,-6>1:765-6<)4:-;876;1*141<A:-/=4)<176;8741+1-;)6,8:7>1;176;);?-44);

+=;<75-:)6,16>-;<7:,-5)6,;5)A),>-:;-4A)..-+<7=::-4)<176;018;?1<0+=;<75-:;)6,16>-;<7:;

0:DE:G6I:>CDK:G8DJCIG>:H8DJCIG>:H>C6C>C8G:6H>C<AN8DBEA:MG:<JA6IDGN:CK>GDCB:CIBDC<DI=:G

I=>C<HL:EGDK>9:8DBEA:M>C9JHIGNHE:8>;>8>CHJG6C8:EGD8:HH>C<>CI=:.$L=>8=>HG:<JA6I:97N6JI=DG>I>:H>C

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"C699>I>DC7JH>C:HH:H>CI=:8DJCIG>:H>CL=>8=L:DE:G6I:6G:HJ7?:8IIDAD86AA:<6A6C9EDA>I>86A:CK>GDCB:CIH

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D;"I:8=CDAD<>:H6C9DJGD7A><6I>DCHID8DBEANL>I=:B:G<>C<A6LH6C9G:<JA6I>DCHB6NG:FJ>G:JHID9:K:ADE

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G:C9:GI=:E6GI>8JA6G7JH>C:HHDE:G6I>DCHJC:8DCDB>86AL=>8=B6N69K:GH:AN6;;:8IDJGEGD;>I67>A>INDGA:69ID6

8=6C<:>CI=:7JH>C:HHDE:G6I>DCH'DIL>I=HI6C9>C<DJG7:HI:;;DGIHL:B6NCDI7:>C8DBEA>6C8:L>I=6AA

G:<JA6I>DCH>CI=:8DJCIG>:H>CL=>8=L:DE:G6I:6I6AAI>B:H6C9B6N7:HJ7?:8IIDH6C8I>DCHE:C6AI>:HDG;>C:H6H

6G:HJAI-=:H:H6C8I>DCHE:C6AI>:HDG;>C:HB6NB6I:G>6AAN6C969K:GH:AN>BE68IDJGEGD;>I67>A>IN

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I=:H:A6LHDGG:<JA6I>DCH86CG:HJAI>C8>K>A8G>B>C6ADGG:<JA6IDGNE:C6AI>:H;>C:H6C9A:<6AA>67>A>I>:HHJHE:CH>DC

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>BE68IH

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I=:H:C:LA6LHG:<JA6I>DCHIG:6I>:H6C9C6I>DC6A6C9<AD76A>C>I>6I>K:H6G:69DEI:96C9>BEA:B:CI:9G:<>DC6AANDG

I=GDJ<=DJII=:LDGA9L:B6N7:G:FJ>G:9ID8DBEANDGEDI:CI>6AAN;68:B6G@:I688:HHA>B>I6I>DCH;>C:HDG

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ID8A>B6I:8=6C<:>C8AJ9>C<7JICDIA>B>I:9IDI=:>CIGD9J8I>DCD;686G7DCI6M8DJA9G:HJAI>C>C8G:6H:9

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8DJA9=6GBDJG7JH>C:HH6C9G:HJAIHD;DE:G6I>DCH7N>C8G:6H>C<DJG:ME:CH:HDGG:FJ>G>C<JHID6AI:GDJG

7JH>C:HHDE:G6I>DCH&DG:DK:GL:B6N:ME:G>:C8:ADHHD;B6G@:IH=6G:>;L:6G:JC67A:IDEGDK>9:8DBE:I>I>K:

EGD9J8IH6C9H:GK>8:HI=6I>C8DGEDG6I:8A>B6I:8=6C<:B>I><6I>DCH6C9>;L:6G:JC67A:ID68=>:K:6C9HJHI6>C6

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G:HJAI>C<>CADHHD;7JH>C:HH6C9ADHHD;688:HHIDI=:;>C6C8>6AB6G@:IH

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

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6II:HIIDI=::;;:8I>K:C:HHD;DJG>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<;;:8I>K:>CI:GC6A8DCIGDAH6G:C:8:HH6GN

;DGJHIDEGDK>9:G:A>67A:;>C6C8>6AG:EDGIH6C9:;;:8I>K:ANEG:K:CI;G6J9!DL:K:G68DCIGDAHNHI:BCDB6II:G=DL

L:AA8DC8:>K:96C9DE:G6I:986CEGDK>9:DCANG:6HDC67A:CDI67HDAJI:6HHJG6C8:I=6II=:D7?:8I>K:HD;I=:

8DCIGDAHNHI:B6G:B:I-=:G:86C7:CD6HHJG6C8:I=6I6AA8DCIGDA>HHJ:HDG;G6J9L>AA7:9:I:8I:9



CN;6>AJG:IDB6>CI6>C:;;:8I>K:8DCIGDAH8DJA9EG:K:CIJH;GDBI>B:AN6C9G:A>67ANG:EDGI>C<;>C6C8>6AG:HJAIH6C9

B6N=6GBDJGDE:G6I>C<G:HJAIH"C699>I>DC>;L:6G:JC67A:ID8DC8AJ9:I=6IL:=6K::;;:8I>K:>CI:GC6A8DCIGDA

DK:G;>C6C8>6AG:EDGI>C<DG>;DJG>C9:E:C9:CIG:<>HI:G:9EJ7A>8688DJCI>C<;>GB>HJC67A:IDEGDK>9:6CJCFJ6A>;>:9

G:EDGI6HIDI=::;;:8I>K:C:HHD;DJG>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<6HD;:68=;>H86AN:6G:C9L:B6N7:

:MEDH:9IDC:<6I>K:EJ7A>8>INL=>8=8DJA986JH:>CK:HIDGHIDADH:8DC;>9:C8:>CDJGG:EDGI:9;>C6C8>6A>C;DGB6I>DC

CN;6>AJG:IDB6>CI6>C:;;:8I>K:>CI:GC6A8DCIGDAH6C96CNHJ8=G:HJAI>C<C:<6I>K:EJ7A>8>INB6NC:<6I>K:AN6;;:8I

DJG7JH>C:HH6C9HID8@EG>8:

99>I>DC6AANI=::M>HI:C8:D;6CNB6I:G>6AL:6@C:HH:HDGH><C>;>86CI9:;>8>:C8>:HLDJA9G:FJ>G:B6C6<:B:CIID

9:KDI:H><C>;>86CII>B:6C9>C8JGH><C>;>86CI:ME:CH:IDG:B:9>6I:6CNHJ8=B6I:G>6AL:6@C:HH:HDGH><C>;>86CI

9:;>8>:C8>:H6C9B6C6<:B:CIB6NCDI7:67A:IDG:B:9>6I:6CNHJ8=B6I:G>6AL:6@C:HH:HDGH><C>;>86CI

9:;>8>:C8>:H>C6I>B:ANB6CC:G-=::M>HI:C8:D;6CNB6I:G>6AL:6@C:HH>CDJG>CI:GC6A8DCIGDADK:G;>C6C8>6A

G:EDGI>C<8DJA96AHDG:HJAI>C:GGDGH>CDJG;>C6C8>6AHI6I:B:CIHI=6I8DJA9G:FJ>G:JHIDG:HI6I:DJG;>C6C8>6A

HI6I:B:CIH86JH:JHID;6>AIDB::IDJGG:EDGI>C<D7A><6I>DCHHJ7?:8IJHIDA>I><6I>DCDGG:<JA6IDGNH8GJI>CN6C9

86JH:HID8@=DA9:GHIDADH:8DC;>9:C8:>CDJGG:EDGI:9;>C6C8>6A>C;DGB6I>DC6AAD;L=>8=8DJA9B6I:G>6AAN6C9

69K:GH:AN6;;:8IJH6C9I=:B6G@:IEG>8:D;DJG8DBBDCHID8@



'-+7=4,;=..-:),,1<176)447;;-;,=-<7);;-<158)1:5-6<+0):/-;

0:68FJ>G:9HJ7HI6CI>6A<DD9L>AA6C9DI=:G>CI6C<>7A:H6H6G:HJAID;I=:!),&:G<:G>C8G:6H>C<DJG:MEDHJG:

IDI=>HG>H@0:I:HIDJG<DD9L>AA;DG>BE6>GB:CI9JG>C<I=:H:8DC9FJ6GI:GD;:K:GNN:6G6C9DC6C>CI:G>B96I:

H=DJA9:K:CIHDG8=6C<:H>C8>G8JBHI6C8:H>C9>86I:I=6I>I>HBDG:A>@:ANI=6CCDII=6II=:;6>GK6AJ:D;6G:EDGI>C<

JC>I>H7:ADL>IH86GGN>C<6BDJCI";I=:;6>GK6AJ:D;6G:EDGI>C<JC>I>HG:K>H:99DLCL6G99J:ID9:8A>C:H>C

7JH>C:HHE:G;DGB6C8:DGDI=:G;68IDGHDG>;L:HJ;;:G;JGI=:G9:8A>C:H>CH=6G:EG>8:6C>BE6>GB:CI8DJA9G:HJAI

6C96CDC86H=8=6G<:8DJA97:G:FJ>G:90:I:HI>CI6C<>7A:6HH:IHL>I=;>C>I:A>K:H;DG>BE6>GB:CIL=:C:K:G

:K:CIHDG8=6C<:H>C8>G8JBHI6C8:H>C9>86I:I=6II=:86GGN>C<6BDJCID;6C6HH:IB6NCDI7:G:8DK:G67A:-=>H

6HH:HHB:CID;I=:G:8DK:G67>A>IND;;>C>I:A>K:9>CI6C<>7A:6HH:IH8DJA9G:HJAI>C6C>BE6>GB:CI6C96CDC86H=

8=6G<:8DJA97:G:FJ>G:90:6AHDI:HI8:GI6>C:FJ>EB:CI6C99:;:GG:98DHI76A6C8:H6HHD8>6I:9L>I=8DCIG68IH

L=:CI=:8DCIG68I>HB6I:G>6AANJC9:GE:G;DGB>C<DG>H:ME:8I:9IDB6I:G>6AANJC9:GE:G;DGB>CI=:;JIJG:6H

8DBE6G:9IDI=:DG><>C6A7>9BD9:ADG7J9<:I";I=:EGD?:8I:986H=;ADLHD;6E6GI>8JA6G8DCIG68I6G:CDI69:FJ6I:

IDG:8DK:GI=:JC6BDGI>O:98DHI76A6C8:D;I=:6HH:I<GDJEI=:76A6C8:>H69?JHI:9>CI=:I:HI:9E:G>D976H:9DC

I=:8DCIG68IH;6>GK6AJ:>I=:GD;I=:H:>BE6>GB:CIH8DJA9B6I:G>6AAN6;;:8IDJGG:EDGI:9C:I:6GC>C<H

'-5)A67<*-)*4-<78)A,1>1,-6,;7::-8=:+0);-;0):-;7.7=:+75576;<7+316)++7:,)6+-?1<07=:

)667=6+-,16<-6<7:)<)44

(JGD6G9B6N6JI=DG>O:H=6G:G:EJG8=6H:H;GDBI>B:IDI>B:!DL:K:GL:6G:CDID7A><6I:9IDB6@:6CN

EJG8=6H:HD;DJGH=6G:H6C9DJG9:8>H>DCIDG:EJG8=6H:DJGH=6G:H6HL:AA6HI=:I>B>C<D;HJ8=G:EJG8=6H:H

L>AA9:E:C9DC6K6G>:IND;;68IDGH6H9:I:GB>C:97NDJGB6C6<:B:CI6C9D6G9

"C699>I>DCL=>A:L:E6>9FJ6GI:GAN86H=9>K>9:C9HIDDJGHID8@=DA9:GHHI6GI>C<;>H86A>C688DG96C8:L>I=DJG

6CCDJC8:99>K>9:C9EDA>8NL:HJHE:C9:9I=:E6NB:CID;FJ6GI:GAN9>K>9:C9HHI6GI>C<>C;>H86AID:C=6C8:

DJG;>C6C8>6A;A:M>7>A>INII=>HI>B:L:9DCDI>CI:C9IDG:>CHI6I:DJGFJ6GI:GAN86H=9>K>9:C9H-=:9:8A6G6I>DC6C9

E6NB:CID;;JIJG:9>K>9:C9HI=:6BDJCID;6CNHJ8=9>K>9:C9H6C9I=::HI67A>H=B:CID;G:8DG96C9E6NB:CI

96I:H;DG9>K>9:C9H>;6CN6G:HJ7?:8IID;>C6A9:I:GB>C6I>DC7NDJGD6G96;I:GG:K>:LD;DJG8JGG:CIHIG6I:<N6C9

;>C6C8>6AE:G;DGB6C8:6C9EDH>I>DC6BDC<DI=:GI=>C<H

-=:D6G9TH9:I:GB>C6I>DCHG:<6G9>C<9>K>9:C9H6C9H=6G:G:EJG8=6H:HL>AA9:E:C9DC6K6G>:IND;;68IDGH

>C8AJ9>C<C:I>C8DB:86H=;ADL<:C:G6I:9;GDBDE:G6I>DCH6BDJCI6C9AD86I>DCD;DJG86H=6C9>CK:HIB:CI

76A6C8:HDK:G6AAA>FJ>9>INEDH>I>DC6C9EDI:CI>6A6AI:GC6I>K:JH:HD;86H=HJ8=6H68FJ>H>I>DCH6HL:AA6H

:8DCDB>88DC9>I>DCH6C9:ME:8I:9;JIJG:;>C6C8>6AG:HJAIH-=:G:86C7:CD<J6G6CI::I=6IL:L>AA68=>:K:DJG

;>C6C8>6A<D6AH>CI=:6BDJCIHDGL>I=>CI=::ME:8I:9I>B:;G6B:DG6I6AA(JG67>A>INID9:8A6G:;JIJG:9>K>9:C9HDG

G:EJG8=6H:H=6G:HL>AA9:E:C9DCDJG;JIJG:;>C6C8>6AE:G;DGB6C8:L=>8=>CIJGC9:E:C9HDCI=:HJ88:HH;JA

>BEA:B:CI6I>DCD;DJGHIG6I:<N6C9DC;>C6C8>6A8DBE:I>I>K:G:<JA6IDGN6C9DI=:G;68IDGH<:C:G6A:8DCDB>8

8DC9>I>DCH9:B6C96C9EG>8:H;DGDJGH:GK>8:H6C9DI=:G;68IDGHHE:8>;>8IDDJG>C9JHIGNDGHE:8>;>8EGD?:8IHB6CN

D;L=>8=6G:7:NDC9DJG8DCIGDA-=:G:;DG:DJG67>A>INID<:C:G6I:86H=;ADL9:E:C9HDCI=:E:G;DGB6C8:D;DJG

DE:G6I>DCH6C98DJA97:A>B>I:97N9:8G:6H:H>CDJGEGD;>I67>A>INDG>C8G:6H:H>C8DHIHG:<JA6IDGN8=6C<:H86E>I6A

:ME:C9>IJG:HDG9:7IH:GK>8>C<G:FJ>G:B:CIH

CN;6>AJG:ID68=>:K:DJG;>C6C8>6A<D6AH8DJA9C:<6I>K:AN>BE68IDJGG:EJI6I>DC=6GB>CK:HIDG8DC;>9:C8:>CJH

6C986JH:I=:B6G@:IEG>8:D;DJG8DBBDCHID8@ID9:8A>C:



'-):-,-.-6,)6<;168-6,16/41<1/)<176<0)<5)A0)>-)5)<-:1)4)6,),>-:;-158)+<767=:8:7.1<)*141<A

)6,419=1,1<A

HCDI:9>C'DI:DBB>IB:CIH6C9DCI>C<:C8>:HL:6G:8JGG:CIANE6GINID6CJB7:GD;9>HEJI:HI=6I

>CKDAK:DGB6N>CKDAK:A>I><6I>DCDG6G7>IG6I>DC>C8AJ9>C<H:8JG>I>:HA>I><6I>DC>CL=>8=L:6C98:GI6>CD;DJG8JGG:CI

DG;DGB:GD;;>8:GH6C99>G:8IDGH=6K:7::CC6B:96H9:;:C96CIH-=:G:HJAID;I=:H:6C96CNDI=:G;JIJG:A:<6A

EGD8::9>C<H86CCDI7:EG:9>8I:9L>I=8:GI6>CIN+:<6G9A:HHD;I=:>GHJ7?:8IB6II:GDGB:G>IHHJ8=A:<6A

EGD8::9>C<HB6NG:HJAI>CH><C>;>86CI8DHIIDJH>C8AJ9>C<>CI=:;DGBD;A:<6A;::H6C9DG96B6<:HL=>8=B6NCDI

7:8DK:G:97N>CHJG6C8:B6N9>K:GII=:6II:CI>DCD;B6C6<:B:CIDGB6NDI=:GL>H:=6K:6C69K:GH::;;:8IDC

DJG7JH>C:HH;>C6C8>6A8DC9>I>DC6C9G:HJAIHD;DE:G6I>DCH':<6I>K:EJ7A>8>IN;GDBA>I><6I>DCL=:I=:GDGCDI

G:HJAI>C<>C6HJ7HI6CI>6A8DHI8DJA9B6I:G>6AAN96B6<:DJGG:EJI6I>DC6C98DJA9=6K:6B6I:G>6A69K:GH::;;:8IDC

DJG7JH>C:HH;>C6C8>6A8DC9>I>DCG:HJAIHD;DE:G6I>DCH6C9I=:EG>8:D;DJG8DBBDCHID8@"C699>I>DCHJ8=A:<6A

EGD8::9>C<HB6NB6@:>IBDG:9>;;>8JAIID;>C6C8:DJGDE:G6I>DCH

0:6G:6AHDHJ7?:8IID8DCI>CJDJH:M6B>C6I>DCHD;DJG>C8DB:I6MG:IJGCH7NI6M6JI=DG>I>:HAI=DJ<=L:7:A>:K:

DJGI6M:HI>B6I:H6G:G:6HDC67A:I=:;>C6AG:HJAIHD;6CNI6M:M6B>C6I>DCDGG:A6I:9A>I><6I>DC8DJA97:B6I:G>6AAN

9>;;:G:CI;GDBDJGG:A6I:9=>HIDG>86A>C8DB:I6MEGDK>H>DCH6C9688GJ6AH9K:GH:9:K:ADEB:CIH>C6C6J9>I

:M6B>C6I>DCDGA>I><6I>DCG:A6I:9IDEG:K>DJHAN;>A:9I6MG:IJGCHDG>CI=:G:A:K6CI?JG>H9>8I>DCTHI6MA6LHG:<JA6I>DCH

69B>C>HIG6I>K:EG68I>8:HEG>C8>EA:H6C9>CI:GEG:I6I>DCH8DJA9=6K:6B6I:G>6A:;;:8IDCDJGG:HJAIHD;DE:G6I>DCH

6C986H=;ADLH>CI=:E:G>D9DGE:G>D9H;DGL=>8=I=6I9:K:ADEB:CID88JGH6HL:AA6H;DGEG>DG6C9HJ7H:FJ:CI

E:G>D9HDGBDG:9:I6>AH>C8AJ9>C<DC8JGG:CII6M:M6B>C6I>DCHD;DJG>C8DB:I6MG:IJGCH7NI6M6JI=DG>I>:HH::

'DI:RU"C8DB:-6M:HV

'-5)A*-),>-:;-4A)..-+<-,*A,1;:=8<176;16<0-+:-,1<5):3-<;16+4=,16/,1;:=8<176;<0)<:-,=+-7=:

+=;<75-:;)++-;;<7+:-,1<)6,16+:-);-<0-+7;<;<77=:+=;<75-:;7.7*<)1616/+:-,1<

-=:8G:9>IB6G@:IH=6K:=>HIDG>86AAN7::CKDA6I>A:6C9I=:G:;DG:>I>HCDIEDHH>7A:IDEG:9>8II=:67>A>IND;DJG

8JHIDB:GHID688:HHH=DGII:GB;>C6C8>C<6C9DI=:G;DGBHD;86E>I6A";69>HGJEI>DC>CI=:8G:9>IB6G@:IHL:G:ID

D88JG>I8DJA9EDH:6G>H@IDDJG7JH>C:HH>;8JHIDB:GHDGHJEEA>:GH6G:JC67A:IDD7I6>C;>C6C8>C<IDB::I

E6NB:CIDG9:A>K:GND7A><6I>DCHIDJH"CI=::K:CII=6IDC:DGBDG:8JHIDB:GHDGHJEEA>:GH9:;6JAIHDC>IH

E6NB:CIDG9:A>K:GND7A><6I>DCHL:8DJA9>C8JGH><C>;>86CIADHH:HL=>8=B6N=6GBDJG7JH>C:HHG:EJI6I>DC

G:HJAIHD;DE:G6I>DCH86H=;ADLH6C9;>C6C8>6A8DC9>I>DC"C699>I>DC8JHIDB:GHB6N9:8>9:ID9DLCH>O:9:;:GDG

86C8:A8DCIG68IHL=>8=8DJA9C:<6I>K:AN6;;:8IDJGG:K:CJ:H

=:0-,/16/8:7/:)51;;=*2-+<<7+7=6<-:8):<A,-.)=4<:1;3

0::CI:G>CID;DG:><C8JGG:C8N;DGL6G98DCIG68IH6C9>CI:G:HIG6I:HL6EHL>I=6CJB7:GD;8DJCI:GE6GI>:HH6

G:HJAIL:6G:HJ7?:8IIDI=:G>H@I=6II=:8DJCI:GE6GINIDDC:DGBDG:D;I=:H:8DCIG68IH9:;6JAIHDC>IH

E:G;DGB6C8:JC9:GI=:8DCIG68IJG>C<6C:8DCDB>89DLCIJGCI=:8DJCI:GE6GINH;>C6C8>6A8DC9>I>DCB6N

9:I:G>DG6I:G6E>9AN6C9L>I=A>IIA:CDI>8:6C9L:B6N7:JC67A:IDI6@:68I>DCIDEGDI:8IDJG:MEDHJG:"CI=::K:CI

D;68DJCI:GE6GIN9:;6JAIL:8DJA9>C8JGH><C>;>86CIADHH:HL=>8=B6N=6GBDJG7JH>C:HH6C9;>C6C8>6A8DC9>I>DC

"CI=::K:CII=6IDC:DGBDG:D;DJG8DJCI:GE6GI>:H7:8DB:H>CHDAK:CIDG;>A:H;DG76C@GJEI8NDJG67>A>INID

:K:CIJ6AANG:8DK:G6CNADHH:HHJ;;:G:96H6G:HJAID;I=6I8DJCI:GE6GINH9:;6JAIB6N7:A>B>I:97NI=:A>FJ>9>IND;

I=:8DJCI:GE6GIN

'-,-:1>-;1/61.1+)6<:->-6=-;)6,8:7.1<.:75+76<:)+<;)?):,-,<0:7=/0+758-<1<1>-*1,,16/

8:7+-;;-;?01+0+)61587;-;=*;<)6<1)4+7;<;76=;)6,?-5)A67<)+01->-:->-6=-)6,8:7.1<

7*2-+<1>-;1.?-.)14<7*1,76<0-;-8:72-+<;-..-+<1>-4A

0:9:G>K:H><C>;>86CIG:K:CJ:H6C9EGD;>I;GDB<DK:GCB:CI8DCIG68IHI=6I6G:6L6G9:9I=GDJ<=8DBE:I>I>K:

7>99>C<EGD8:HH:H0::ME:8II=6IBDHID;I=:CDC.,<DK:GCB:CI7JH>C:HHL:H::@>CI=:;DG:H::67A:;JIJG:

L>AA7:6L6G9:9I=GDJ<=8DBE:I>I>K:7>99>C<DBE:I>I>K:7>99>C<>H:ME:CH>K:6C9EG:H:CIH6CJB7:GD;G>H@H

>C8AJ9>C<

W I=:HJ7HI6CI>6A8DHI6C9B6C6<:G>6AI>B:6C9:;;DGII=6IL:HE:C9IDEG:E6G:7>9H6C9EGDEDH6AH;DG

8DCIG68IHI=6IB6NDGB6NCDI7:6L6G9:9IDJH

W I=:C::9ID:HI>B6I:688JG6I:ANI=:G:HDJG8:H6C98DHIHI=6IL>AA7:G:FJ>G:9IDH:GK>8:6CN8DCIG68IHL:

6G:6L6G9:9HDB:I>B:H>C69K6C8:D;I=:;>C6A9:I:GB>C6I>DCD;I=:>G;JAAH8DE:6C99:H><C



W I=::ME:CH:6C99:A6NI=6IB6N6G>H:>;DJG8DBE:I>IDGHEGDI:HIDG8=6AA:C<:6L6G9HB69:IDJHEJGHJ6CI

ID8DBE:I>I>K:7>99>C<

W I=:G:FJ>G:B:CIIDG:HJ7B>I7>9HEGDI:HI:97NDJG8DBE:I>IDGH6C9>CI=:I:GB>C6I>DCG:9J8I>DCDG

BD9>;>86I>DCD;I=:6L6G9:98DCIG68IH6C9

W I=:DEEDGIJC>IN8DHID;CDI7>99>C<DC6C9L>CC>C<DI=:G8DCIG68IHL:B><=IDI=:GL>H:EJGHJ:

.7=:+=;<75-:;-@8-:1-6+-.16)6+1)4,1..1+=4<1-;?-5)A67<*-)*4-<7+744-+<7=::-+-1>)*4-;?01+0

?7=4,5)<-:1)44A)6,),>-:;-4A)..-+<7=:8:7.1<)*141<A)6,+);0.47?;.:7578-:)<176;

(K:GI=:8DJGH:D;68DCIG68II:GB68JHIDB:GH;>C6C8>6A8DC9>I>DCB6N9:8A>C:6C9A>B>I>IH67>A>INIDE6N>IH

D7A><6I>DCH-=>H8DJA986JH:DJG86H=8DAA:8I>DCHID9:8G:6H:6C97699:7I:ME:CH:ID>C8G:6H:0=>A:L:B6N

G:HDGIID6AI:GC6I>K:B:I=D9HIDEJGHJ:8A6>BHDG8DAA:8IG:8:>K67A:HI=:H:B:I=D9H6G::ME:CH>K:6C9I>B:

8DCHJB>C<6C9HJ88:HH;JA8DAA:8I>DC>HCDI<J6G6CI::96>AJG:ID8DAA:8IDJGG:8:>K67A:HDGEG:K6>ADC8A6>BH

LDJA9=6K:6C69K:GH::;;:8IDCDJGEGD;>I67>A>IN6C986H=;ADLH

.?-):-=6)*4-<75)16<)16)6,/:7?7=:+=;<75-::-4)<176;018;7>-:<15-7=:78-:)<16/:-;=4<;)6,

+);0.47?;?144;=..-:)14=:-<7+7584A?1<0+=;<75-:+76<:)+<;7:/7>-:65-6<+76<:)+<16/:-/=4)<176;

7::-9=1:-5-6<;+7=4,),>-:;-4A)..-+<7=:*=;16-;;:-;=4<;7.78-:)<176;)6,+);0.47?;

0:9:KDI:H><C>;>86CIG:HDJG8:HID:HI67A>H=G:A6I>DCH=>EHL>I=DJG8JHIDB:GH6C9>BEA:B:CIDJGD;;:G>C<H6C9

G:A6I:9H:GK>8:HE6GI>8JA6GAN>CI=:86H:D;A6G<::CI:GEG>H:HI=6ID;I:CG:FJ:HIDGG:FJ>G:HE:8>;>8;:6IJG:HDG

;JC8I>DCHHE:8>;>8IDI=:>GE6GI>8JA6G7JH>C:HHEGD;>A:88DG9>C<ANDJGG:HJAIHD;DE:G6I>DCH9:E:C9>CHJ7HI6CI>6A

E6GIDCDJG67>A>INID9:A>K:G6HJ88:HH;JA8JHIDB:G:ME:G>:C8:6C9E:GHJ69:8JHIDB:GHIDB6>CI6>C6C9<GDLI=:>G

G:A6I>DCH=>EL>I=JHDK:GI>B:";L:6G:CDIHJ88:HH;JA>C>BEA:B:CI>C<6CD;;:G>C<DG9:A>K:G>C<6HJ88:HH;JA

8JHIDB:G:ME:G>:C8:>C8AJ9>C<68=>:K>C<8DHI6C9HI6;;>C<A:K:AHI=6IB::IDJG8JHIDB:GHT:ME:8I6I>DCH

8JHIDB:GH8DJA9I:GB>C6I:DG:A:8ICDIIDG:C:LI=:>G6<G::B:CIHL>I=JH6C9DJGDE:G6I>C<G:HJAIHB6NHJ;;:G

DCIG68IHL>I=8JHIDB:GHB6N>C8AJ9:JC>FJ:6C9HE:8>6A>O:9E:G;DGB6C8:G:FJ>G:B:CIH"CE6GI>8JA6GDJG

8DCIG68IHL>I=;:9:G6AHI6I:EGDK>C8>6A6C9AD86A<DK:GCB:CI6A8JHIDB:GH6G:<:C:G6AANHJ7?:8IIDK6G>DJH

EGD8JG:B:CIG:<JA6I>DCH8DCIG68IEGDK>H>DCH6C9DI=:GG:FJ>G:B:CIHG:A6I>C<IDI=:>G;DGB6I>DC69B>C>HIG6I>DC

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W I=:C::9IDEGDK>9:IG6CH>I>DCH:GK>8:HL=>8=B6NG:HJAI>CHIG6C9:98DHIH6C9I=:9>K:GH>DCD;G:HDJG8:H

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

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;>H86AN:6G99>I>DC6AANHI6GI>C<>C;>H86AN:6G8:GI6>C;DG:><C:6GC>C<H6C9:6GC>C<HI=6IB6N7:

HJ7?:8IIDI=:6H:GDH>DC6C9CI>7JH:-6MB6N7:HJ7?:8IID=><=:G.,I6MG6I:H

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>CI6MA6LHDGI=:>G>CI:GEG:I6I>DCDGI6MEDA>8N>C>I>6I>K:H6C9G:;DGBHJC9:G8DCH>9:G6I>DCHJ8=6HI=DH:G:;A:8I:9

>CI=:( "C8AJH>K:G6B:LDG@DC6H:GDH>DC6C9)GD;>I,=6G>C<DGDI=:GEGD?:8IH

"C#6CJ6GNI=:(G<6C>O6I>DC;DG8DCDB>8DDE:G6I>DC6C9:K:ADEB:CIU(V6CCDJC8:9;JGI=:G

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

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0:6G:HJ7?:8IIDI=:8DCI>CJDJH:M6B>C6I>DCD;DJG>C8DB:I6MG:IJGCH7NI=:"+,6C9DI=:GI6M6JI=DG>I>:H0:

G:<JA6GAN6HH:HHI=:A>@:A>=DD9D;69K:GH:DJI8DB:HG:HJAI>C<;GDBI=:H::M6B>C6I>DCHID9:I:GB>C:I=:69:FJ68N

D;DJGEGDK>H>DC;DGI6M:H-=:G:86C7:CD6HHJG6C8:I=6II=:DJI8DB:H;GDBI=:H::M6B>C6I>DCHL>AACDI=6K:6

B6I:G>6A69K:GH::;;:8IDCDJG;>C6C8>6A8DC9>I>DC6C9DE:G6I>C<G:HJAIH

'7A9A'3:/B32B==C@=;>:3B32(B@/B3571)@/<A/1B7=<A

'-+7=4,0)>-)616,-561.1+)<1767*41/)<176<7!1.<0-;<7+3,1;<:1*=<17616+766-+<176?1<0<0-!#

*=;16-;;;-8):)<176<0-1;<:1*=<176?-:-,-<-:516-,67<<79=)41.A.7:<)@.:--<:-)<5-6<?01+0+7=4,

5)<-:1)44A),>-:;-4A)..-+<7=:.16)6+1)4+76,1<176

";9J:ID6CND;DJGG:EG:H:CI6I>DCH7:>C<JCIGJ:DGDJG8DK:C6CIH7:>C<7G:68=:9I=:>HIG>7JI>DCL6H

9:I:GB>C:9CDIIDFJ6A>;N;DGI6M;G::IG:6IB:CIJC9:G,:8I>DCD;I=:"CI:GC6A+:K:CJ:D9:D;6H

6B:C9:9I=:D9:!)LDJA9<:C:G6AAN7:HJ7?:8IIDI6M6H>;>IHDA9I=:18DBBDCHID8@>C6I6M67A:

IG6CH68I>DCL=>8=8DJA9G:HJAI>C6B6I:G>6AI6MA>67>A>IN"C699>I>DC:68=!)HID8@=DA9:GL=DG:8:>K:91

8DBBDCHID8@>CI=:>HIG>7JI>DCLDJA9<:C:G6AAN7:IG:6I:96HG:8:>K>C<6I6M67A:>HIG>7JI>DC>C6C6BDJCI

:FJ6AIDI=:;6>GB6G@:IK6AJ:D;I=:18DBBDCHID8@G:8:>K:97NI=:HID8@=DA9:G>CI=:>HIG>7JI>DC

.C9:GI=:I6MB6II:GH6<G::B:CII=6IL::CI:G:9>CIDL>I=!)>C8DCC:8I>DCL>I=I=:!),&:G<:GL:L:G:

G:FJ>G:9ID>C9:BC>;N!)6<6>CHII6M:HG:HJAI>C<;GDBI=:>HIG>7JI>DCDG8:GI6>C6HE:8IHD;I=:!),&:G<:G

6G>H>C<6H6G:HJAID;6CK:G:II-6>CI>C<8I6H9:;>C:9>CI=:-6M&6II:GH<G::B:CI";L:L:G:G:FJ>G:9ID

>C9:BC>;N!);DGI6M:HG:HJAI>C<;GDB6CK:G:II-6>CI>C<8II=6I>C9:BC>;>86I>DCD7A><6I>DCLDJA9A>@:AN7:

HJ7HI6CI>6A6C98DJA9B6I:G>6AAN69K:GH:AN6;;:8IDJG;>C6C8>6A8DC9>I>DC

.<0-!#-:/-:,7-;67<9=)41.A);):-7:/)61B)<176=6,-:#-+<176)7.<0-7,-#;.7:5-:

;<7+3074,-:;5)A16+=:;1/61.1+)6<<)@41)*141<1-;

-=:8DBEA:I>DCD;I=:!),&:G<:GL6H8DC9>I>DC:9JEDCI=:G:8:>EI7N!)6C9,D;DE>C>DCHD;8DJCH:AID

I=::;;:8II=6I;DG.,;:9:G6A>C8DB:I6MEJGEDH:HI=:!),&:G<:GL>AAFJ6A>;N6H6G:DG<6C>O6I>DCL>I=>CI=:

B:6C>C<D;,:8I>DC6D;I=:D9:I=:!),&:G<:G-6M(E>C>DCH-=:E6GI>:H9>9CDIH::@6GJA>C<;GDB

I=:"+,G:<6G9>C<HJ8=FJ6A>;>86I>DC-=:!),&:G<:G-6M(E>C>DCHL:G:76H:9DCI=:C8JGG:CIA6L6C9G:A>:9

JEDCK6G>DJH;68IJ6AG:EG:H:CI6I>DCH6C96HHJBEI>DCH6HL:AA6H8:GI6>CJC9:GI6@>C<HB69:7N!)!),6C9

,";6CND;I=DH:G:EG:H:CI6I>DCHDG6HHJBEI>DCH>HJCIGJ:DG>C8DBEA:I:>C6CNB6I:G>6AG:HE:8IDG6CND;

I=DH:JC9:GI6@>C<H>HCDI8DBEA>:9L>I=DG>;I=:;68IHJEDCL=>8=I=:!),&:G<:G-6M(E>C>DCH6G:76H:96G:

B6I:G>6AAN9>;;:G:CI;GDBI=:68IJ6A;68IHI=6I:M>HI:96II=:I>B:D;I=:!),&:G<:GI=:8DC8AJH>DCHG:68=:9>C

I=:!),&:G<:G-6M(E>C>DCH8DJA97:69K:GH:AN6;;:8I:96C9I=:!),&:G<:GB6NCDIFJ6A>;N;DGI6M;G::

IG:6IB:CI(E>C>DCHD;8DJCH:A6G:CDI7>C9>C<DCI=:"+,DGI=:8DJGIH'D6HHJG6C8:86C7:<>K:CI=6II=:"+,

L>AACDI8=6AA:C<:I=:8DC8AJH>DCHH:I;DGI=>CI=:!),&:G<:G-6M(E>C>DCHDGI=6I68DJGILDJA9CDIHJHI6>C

HJ8=68=6AA:C<:";I=:!),&:G<:GL:G:9:I:GB>C:9ID7:I6M67A:EG:K>DJH=DA9:GHD;,8DBBDCHID8@

LDJA97:8DCH>9:G:9ID=6K:B69:6I6M67A:9>HEDH>I>DCD;I=:>GH=6G:HID!),6C9HJ8=HID8@=DA9:GHLDJA9

<:C:G6AANG:8D<C>O:I6M67A:<6>CDGADHHDCI=:>GG:8:>EID;!),8DBBDCHID8@>CI=:!),&:G<:G



$0-%#!##-8):)<176)6,-:/-:;)6,!##-8):)<176+7=4,:-;=4<16;=*;<)6<1)4<)@41)*141<A<7()6,

7=:;<7+3074,-:;

BDC<I=:8ADH>C<8DC9>I>DCHID8DBEA:I>C<I=:.,),,:E6G6I>DC6C9&:G<:GHL:G:8:>K:96A:<6ADE>C>DCD;I6M

8DJCH:AHJ7HI6CI>6AANIDI=::;;:8II=6I;DG.,;:9:G6A>C8DB:I6MEJGEDH:H>I=:.,),,:E6G6I>DCFJ6A>;>:H6H

6UG:DG<6C>O6I>DCVL>I=>CI=:B:6C>C<D;,:8I>DC6D;I=:D9:>>:68=D;16C9):GHE:8I6>H6

UE6GINID6G:DG<6C>O6I>DCVL>I=>CI=:B:6C>C<D;,:8I>DC7D;I=:D9:L>I=G:HE:8IIDI=:.,),,:E6G6I>DC

>>>I=:.,),9>HIG>7JI>DCFJ6A>;>:H6H6I6M;G::HE>CD;;G:HJAI>C<>CCDCG:8D<C>I>DCJC9:G,:8I>DCH6

6C96D;I=:D9:6C96IG6CH68I>DC>CL=>8=I=:HID8@9>HIG>7JI:9I=:G:7NH=DJA98DCHI>IJI:

UFJ6A>;>:9EGDE:GINV;DGEJGEDH:HD;,:8I>DCH9:6C98D;I=:D9:6C9>KCDC:D;I=:G:A6I:9

B:G<:GH86JH:H,:8I>DC:D;I=:D9:ID6EEANIDI=:.,),9>HIG>7JI>DC";CDIL>I=HI6C9>C<I=:8DC8AJH>DCH

:MEG:HH:9>CI=:H:DE>C>DCHI=:.,),,:E6G6I>DC6C9&:G<:GHL:G:9:I:GB>C:9ID7:I6M67A:16C9>IH

HID8@=DA9:GH8DJA9>C8JGH><C>;>86CII6MA>67>A>I>:H

"C699>I>DCEG>DGIDI=:!),&:G<:G,HEJCD;;>IH'DGI=B:G>86C)J7A>8,:8IDG7JH>C:HH'),DC

'DK:B7:GI=:'),,:E6G6I>DC"C8DCC:8I>DCL>I=I=:'),,:E6G6I>DC,G:8:>K:96CDE>C>DCD;

8DJCH:AHJ7HI6CI>6AANIDI=::;;:8II=6I;DG.,;:9:G6A>C8DB:I6MEJGEDH:HI=:'),,:E6G6I>DCFJ6A>;>:96H6

I6M;G::IG6CH68I>DCID,6C9=DA9:GHD;,8DBBDCHID8@JC9:G,:8I>DC6C9G:A6I:9EGDK>H>DCHD;I=:

D9:-=:8DBEA:I>DCD;I=:!),&:G<:GL6H8DC9>I>DC:9JEDCI=:G:8:>EID;,D;6CDE>C>DCD;8DJCH:AID

I=::;;:8II=6II=:!),&:G<:GH=DJA9CDI86JH:,:8I>DC:D;I=:D9:ID6EEANIDI=:'),,:E6G6I>DCDG

DI=:GL>H:6;;:8II=:FJ6A>;>86I>DCD;I=:'),,:E6G6I>DC6H6I6M;G::9>HIG>7JI>DCJC9:G,:8I>DCD;I=:D9:

";CDIL>I=HI6C9>C<I=:8DC8AJH>DCH:MEG:HH:9>CI=:H:DE>C>DCHI=:'),,:E6G6I>DCL:G:9:I:GB>C:9ID7:

I6M67A:,6C9,HID8@=DA9:GHI=6IG:8:>K:9,+"C8,+HID8@>CI=:'),,:E6G6I>DC8DJA9>C8JG

H><C>;>86CII6MA>67>A>I>:H

-=:DE>C>DCHD;8DJCH:AL:G:8:>K:9L:G:76H:9DC6BDC<DI=:GI=>C<HK6G>DJH;68IJ6AG:EG:H:CI6I>DCH6C9

6HHJBEI>DCH6HL:AA6H8:GI6>CJC9:GI6@>C<HB69:7N1):GHE:8I66C9,+";6CND;I=DH:G:EG:H:CI6I>DCH

DG6HHJBEI>DCH>HJCIGJ:DG>C8DBEA:I:>C6CNB6I:G>6AG:HE:8IDG6CND;I=DH:JC9:GI6@>C<H>HCDI8DBEA>:9L>I=

I=:8DC8AJH>DCHG:68=:9>CI=:DE>C>DC8DJA97:69K:GH:AN6;;:8I:96C9I=:.,),,:E6G6I>DCDGI=:'),

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,=6G:G:EJG8=6H:HB6N7:B69:;GDBI>B:IDI>B:I=GDJ<=K6G>DJHB:6CH>C8AJ9>C<>CDE:CB6G@:IEJG8=6H:H7

EA6CHEG>K6I:ANC:<DI>6I:9IG6CH68I>DCH688:A:G6I:9HID8@G:EJG8=6H:H7AD8@IG69:H6C9DI=:GIG6CH68I>DCH>C

8DBEA>6C8:L>I=+JA:7JC9:GI=:M8=6C<:8ID;6H6B:C9:96HL:AA6HIDI=::MI:CI6EEA>867A:DI=:G

;:9:G6A6C9HI6I:H:8JG>I>:HA6LH6C9DI=:GA:<6AG:FJ>G:B:CIH-=:I>B>C<KDAJB:6C9C6IJG:D;H=6G:G:EJG8=6H:H

EJGHJ6CIIDI=:H=6G:G:EJG8=6H:EA6C6G:6II=:9>H8G:I>DCD;B6C6<:B:CI6C9B6N7:HJHE:C9:9DG9>H8DCI>CJ:96I6CN

I>B:HD;&6G8=6EEGDM>B6I:ANB>AA>DCLDGI=D;H=6G:HG:B6>C:96K6>A67A:;DGG:EJG8=6H:JC9:GI=:EA6CH

DGEGD<G6BH-=:G:L:G:CDH=6G:G:EJG8=6H:H9JG>C<;>H86A

(CJ<JHII=:.,<DK:GCB:CI:C68I:9I=:"C;A6I>DC+:9J8I>DC8II=:"+>CIDA6L-=:"+>BEDH:H6

:M8>H:I6MDCH=6G:G:EJG8=6H:H8DBEA:I:96;I:G:8:B7:G0:G:;A:8II=::M8>H:I6ML>I=>C:FJ>IN6HE6GID;I=:

G:EJG8=6H:D;I=:8DBBDCHID8@JG>C<I=:I=>G9FJ6GI:GD;;>H86AI=:DBE6CNB69:6B>AA>DCE6NB:CI;DGI=:

:M8>H:I6M6HHD8>6I:9L>I=EG>DGN:6GH=6G:G:EJG8=6H:H>C8DBEA>6C8:L>I=I=:"+

,::'DI:,ID8@=DA9:GHFJ>INIDI=:;>C6C8>6AHI6I:B:CIH>CI=>HCCJ6A+:EDGIDCDGB$;DGBDG:>C;DGB6I>DC



%3@4=@;/<13@/>6

-=:;DAADL>C<<G6E=8DBE6G:HI=:8JBJA6I>K:G:IJGCDCDJG8DBBDCHID8@;DGI=:BDHIG:8:CI;>K:N:6GHL>I=I=:

8JBJA6I>K:G:IJGCDCI=:,I6C96G9)DDGTH,ID8@"C9:M,)"C9:M6C9,I6C96G9)DDGH"C;DGB6I>DC

-:8=CDAD<N"C9:M,)"C;DGB6I>DC-:8=CDAD<N"C9:M-=:<G6E=6HHJB:HI=6IL6H>CK:HI:96II=:B6G@:I

8ADH:DC&6G8=I=:A6HIIG69>C<96ND;;>H86A>CDJG8DBBDCHID8@6C9I=:G:A:K6CI8DBE6G>HDC>C9>8:H

6C9I=6I9>K>9:C9H=6K:7::CG:>CK:HI:9-=:HID8@EG>8:E:G;DGB6C8:D;I=:;DAADL>C<<G6E=>HCDIC:8:HH6G>AN>C9>86I>K:

D;;JIJG:HID8@EG>8:E:G;DGB6C8:

=;>/@7A=<=47D3.3/@C;C:/B7D3)=B/:'3BC@<

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&6G &6G &6G &6G &6G &6G

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

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-=:;DAADL>C<I67A:EGDK>9:HIDI6AH=6G:=DA9:GG:IJGCH6HHJB>C<L6H>CK:HI:9DCEG>AL>I=6CCJ6AG:IJGCH

JH>C<DJG;>H86AN:6G:C996I:

=;>/<G"/@93B%33@@=C>     

1-:8=CDAD<NDBE6CN   

,)"C9:M    

,)"C;DGB6I>DC-:8=CDAD<N"C9:M    

(31C@7B73ACB6=@7H324=@AAC/<13*<23@?C7BG=;>3<A/B7=<%:/<A

,::)6GI""""I:BD;I=>HCCJ6A+:EDGIDCDGB$;DG>C;DGB6I>DCG:<6G9>C<DJG:FJ>IN8DBE:CH6I>DCEA6CH

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>HG:A:K6CIID6C6HH:HHB:CI6C9JC9:GHI6C9>C<D;DJGG:HJAIHD;DE:G6I>DCH6C986H=;ADLH;DGI=:;>H86AN:6G:C9:9

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7:G:69>C8DC?JC8I>DCL>I=DJG;>C6C8>6AHI6I:B:CIH6C9CDI:H

-=:&>HDG<6C>O:9>CI=:;DAADL>C<H:8I>DCH

W 68@<GDJC9

W +:HJAIHD;(E:G6I>DCH

W %>FJ>9>IN6C96E>I6A+:HDJG8:H

W G>I>86A88DJCI>C<HI>B6I:H

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6C9;>H86A8DBE6G>HDCD;DJGG:HJAIHD;DE:G6I>DCH6C9A>FJ>9>IN6C986E>I6AG:HDJG8:H;DG;>H86A6C9

;>H86AB6N7:;DJC9>CU"I:B&6C6<:B:CITH>H8JHH>DC6C9C6ANH>HD;>C6C8>6ADC9>I>DC6C9+:HJAIHD;

(E:G6I>DCHVDCDGB$;>A:9L>I=I=:,:8JG>I>:H6C9M8=6C<:DBB>HH>DCDC&6N

/195@=C<2

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6G8=>I:8IJG:H6C9:CHJG>C<H:8JG>IN6C9H86A67>A>IN68GDHHEJ7A>8EG>K6I:6C9=N7G>98ADJ9H&6CND;I=:LDGA9THA6G<:HI

8DBE6C>:H6C9EJ7A>8H:8IDGDG<6C>O6I>DCHIGJHI1ID9:EADNH:GK>8:HID9G>K:C:LA:K:AHD;E:G;DGB6C8:

8DBE:I>I>K:C:HH6C98JHIDB:G:ME:G>:C8:68GDHHI=:>G"-:HI6I:H

0:<:C:G6I:G:K:CJ:7ND;;:G>C<6L>9:G6C<:D;>C;DGB6I>DCI:8=CDAD<NH:GK>8:H6C9HDAJI>DCHEG>B6G>AN>C'DGI=

B:G>86JGDE:H>66C9JHIG6A>60:DE:G6I:I=GDJ<=ILDH:<B:CIH AD76AJH>C:HH,:GK>8:H ,6C9 AD76A

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6GDJC9I=:LDGA9(JG8JHIDB:GH>C8AJ9:8DBB:G8>6A7JH>C:HH:HD;B6CNH>O:H6C9>CB6CN>C9JHIG>:H6C9EJ7A>8H:8IDG

8A>:CIH

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W +:K:CJ:HD;7>AA>DC9DLC8DBE6G:9IDEG>DGN:6GE:G>D96C99DLCDC6CDG<6C>876H>H

W "C8DB:7:;DG:>C8DB:I6M:HL6HB>AA>DC69?JHI:9:6GC>C<H7:;DG:>C8DB:I6M:HL6HB>AA>DC6C

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W >AJI:9:6GC>C<HE:GH=6G:D;8DBE6G:9ID>C;>H86A69?JHI:99>AJI:9:6GC>C<HE:GH=6G:D;

8DBE6G:9ID>C;>H86A6C>C8G:6H:D;

W 6H=<:C:G6I:9;GDBDE:G6I>DCHL6HB>AA>DCA:HH86E>I6A:ME:C9>IJG:HD;B>AA>DCG:HJAI:9>C;G::

86H=;ADLD;B>AA>DC

W DD@ID7>AAG6I>D8DCIG68I6L6G9H9>K>9:97N6CCJ6AG:K:CJ:D;M8DBE6G:9IDM9JG>C<;>H86A



'3AC:BA=4$>3@/B7=<A

-=:;DAADL>C<I67A:EGDK>9:H;>C6C8>6A96I6;DG;>H86A6C9

7A1/:.3/@A<232

"CB>AA>DCH:M8:EIE:GH=6G:6BDJCIH "/@16 "/@16

+:K:CJ:H    

"C8DB:7:;DG:>C8DB:I6M:H   

"C8DB:I6M:ME:CH:   

':I>C8DB:    

>AJI:9:6GC>C<HE:G8DBBDCH=6G:    



!=2><4145>A48=2><4C0G4B&4C8=2><40=38;DC4340A=8=6B?4A2><<>=B70A48=2;D34(4=B8>=0=3'(02CD0A80;0=3B4CC;4<4=C608=B0=3

;>BB4BC70CF4A4<8;;8>=0=3<8;;8>=5>AC7458B20;H40AB4=343%0A270=3%0A27A4B?42C8E4;H

"->-6=-;

(JGG:K:CJ:H7N<:D<G6E=N6C9DE:G6I>C<H:<B:CIH6G:EGDK>9:97:ADL

7A1/:.3/@A<232 7A1/:.3/@<232

>CB>AA>DCH "/@16 "/@16

%3@13<B/53

6/<53

=<AB/<BC@@3<1G

"/@16

%3@13<B/53

6/<537<

=<AB/<B

C@@3<1G

:D<G6E=>8&6G@:I

.C>I:9,I6I:H        

.C>I:9$>C<9DB       

(I=:GJGDE:       

JHIG6A>6       

(I=:G"CI:GC6I>DC6A       

-DI6A+:K:CJ:H        

+:EDGI67A:,:<B:CIH

,        

",       

-DI6A+:K:CJ:H        



>=BC0=C2DAA4=2HA4E4=D4B0A40=>=(<40BDA420;2D;0C431HCA0=B;0C8=62DAA4=C?4A8>302C8E8CH8=C>,*3>;;0ABDB8=6C742><?0A01;4?A8>A

?4A8>3LB2DAA4=2H2>=E4AB8>=A0C4B+78B8=5>A<0C8>=8B2>=B8BC4=CF8C77>F<0=064<4=CE84FB>DAA4E4=D4B0=34E0;D0C4B>DA>?4A0C8=6?4A5>A<0=24

0=3CA4=3B>A<>A48=5>A<0C8>=B44&>=(8=0=280;%40BDA4B

-DI6AG:K:CJ:;DG;>H86AL6H7>AA>DC69:8A>C:D;B>AA>DCDG8DBE6G:9IDI=:EG>DG;>H86AN:6G

EG>B6G>AN9G>K:C7N69:8A>C:>CDG<6C>8G:K:CJ:6C96JC;6KDG67A:;DG:><C8JGG:C8N:M8=6C<:G6I:>BE68I

(G<6C>8G:K:CJ:>H6CDC )B:6HJG:6H9>H8JHH:9>CDJG'DC )>C6C8>6A&:6HJG:H"C699>I>DC;DG6

9>H8JHH>DCD;G>H@H6HHD8>6I:9L>I=DJG;DG:><CDE:G6I>DCHH::)6GI""I:B+>H@68IDGH



"-87:<)*4-#-/5-6<"-;=4<;

;>10;DB8=4BB*4AE824B

W +:K:CJ:L6H7>AA>DC9DLCN:6GDK:GN:6G9DLCDC6CDG<6C>876H>H

W ,:<B:CIEGD;>IL6HB>AA>DC9DLCN:6GDK:GN:6GL>I=68DGG:HEDC9>C<B6G<>CD;

W DD@ID7>AAG6I>DD;M8DBE6G:9IDM9JG>C<;>H86A

;>10;!=5A0BCAD2CDA4*4AE824B

O+:K:CJ:L6H7>AA>DC9DLCN:6GDK:GN:6G9DLCDC6CDG<6C>876H>H

W ,:<B:CIEGD;>IL6HB>AA>DCJEN:6GDK:GN:6GL>I=68DGG:HEDC9>C<B6G<>CD;

W DD@ID7>AAG6I>DD;M8DBE6G:9IDM9JG>C<;>H86A

7;<;)6,@8-6;-;

(JGIDI6A8DHIH6C9:ME:CH:HL:G:6H;DAADLH

=::/@;=C<B

7A1/:.3/@A<232 6/<53

>CB>AA>DCH "/@16 "/@16 =::/@ %3@13<B

DHIHD;H:GK>8:H:M8AJ9:H9:EG:8>6I>DC6C96BDGI>O6I>DC

6C9G:HIGJ8IJG>C<8DHIH       

,:AA>C<<:C:G6A6C969B>C>HIG6I>K::M8AJ9:H9:EG:8>6I>DC

6C96BDGI>O6I>DC6C9G:HIGJ8IJG>C<8DHIH       

:EG:8>6I>DC6C96BDGI>O6I>DC       

+:HIGJ8IJG>C<8DHIH      

"CI:G:HI:ME:CH:      

"CI:G:HI>C8DB:       

6>CDC9>HEDH>I>DCD;7JH>C:HH:H      

(I=:G>C8DB::ME:CH:C:I       

-DI6A8DHIH6C9:ME:CH:H       

7;<;7.#-:>1+-;

DHIHD;H:GK>8:H(,L:G:7>AA>DC;DG;>H86A69:8G:6H:D;B>AA>DC8DBE6G:9IDI=:EG>DG;>H86AN:6G

-=:9:8G:6H:>C:ME:CH:H6<6>CHII=:EG>DG;>H86AN:6GL6HEG>B6G>AN9J:ID69:8A>C:>C8DHIH;GDBADL:GG:K:CJ:A:K:AH

6C96G:9J8I>DC>CEGD;:HH>DC6AH:GK>8:H6C98DCIG68IDGG:A6I:9:ME:CH:H;GDBDJG8DHIDEI>B>O6I>DC:;;DGIH

GDHHB6G<>C+:K:CJ:HA:HH(,6H6E:G8:CI6<:D;G:K:CJ:L6H;DG;>H86A6C>C8G:6H:D;76H>H

ED>CIH6<6>CHII=:EG>DG;>H86AN:6G

#-4416/-6-:)4)6,,5161;<:)<1>-

,:AA>C<<:C:G6A6C969B>C>HIG6I>K::ME:CH:, L6H7>AA>DC;DG;>H86A6C>C8G:6H:D;B>AA>DC

8DBE6G:9IDI=:EG>DG;>H86AN:6G-=:>C8G:6H:>C:ME:CH:H6<6>CHII=:EG>DG;>H86AN:6GL6HEG>B6G>AN9J:ID6C6A><CB:CI

D;7JH>C:HH9:K:ADEB:CI:ME:CH:H;GDB(,>CHJEEDGID;I=:D;;:G>C<BD9:A6C96C>C8G:6H:>CIG6CH68I>DCH:E6G6I>DC

6C9>CI:<G6I>DCG:A6I:9U-,"V8DHIHE6GI>6AAND;;H:I7NADL:GB:G<:GG:A6I:9>C9:BC>;>86I>DC:ME:CH:HADL:GH=6G:76H:9

8DBE:CH6I>DC6C96<6>C;GDB6A:<6AH:IIA:B:CI>C;>H86A

, 6H6E:G8:CI6<:D;G:K:CJ:L6H;DG;>H86A6C>C8G:6H:D;76H>HED>CIH6<6>CHII=:EG>DG;>H86AN:6G

-8:-+1)<176)6,57:<1B)<176

:EG:8>6I>DC:ME:CH:L6HB>AA>DC;DG;>H86A69:8G:6H:D;B>AA>DC8DBE6G:9IDI=:EG>DG;>H86AN:6G-=:

9:8G:6H:>C9:EG:8>6I>DC:ME:CH:L6HEG>B6G>AN9J:IDADL:G6K:G6<:C:IEGDE:GIN6C9:FJ>EB:CI76A6C8:H



BDGI>O6I>DC:ME:CH:L6HB>AA>DC;DG;>H86A69:8G:6H:D;B>AA>DC8DBE6G:9IDI=:EG>DG;>H86AN:6G-=:

9:8G:6H:>C6BDGI>O6I>DC:ME:CH:L6HEG>B6G>AN9J:IDADL:GHD;IL6G:6BDGI>O6I>DC

"-;<:=+<=:16/7;<;

JG>C<;>H86A B6C6<:B:CI6EEGDK:9<AD76A8DHI H6K>C<H>C>I>6I>K:H9:H><C:9ID7:II:G6A><CDJGLDG@;DG8:;68>A>IN

6C996I68:CI:GG:FJ>G:B:CIH-DI6AG:HIGJ8IJG>C<8DHIHG:8DG9:9C:ID;G:K:GH6AH9JG>C<;>H86AL:G:B>AA>DC6C

>C8G:6H:D;B>AA>DC8DBE6G:9IDI=:EG>DG;>H86AN:6GEG>B6G>AN;GDB6G:9J8I>DC>CLDG@;DG8:G:A6I:9:ME:CH:H

,::'DI:+:HIGJ8IJG>C<DHIH;DG699>I>DC6A>C;DGB6I>DC67DJIDJGG:HIGJ8IJG>C<68I>DCH

6<-:-;<@8-6;-)6,6<-:-;<6+75-

DG;>H86AC:I>CI:G:HI:ME:CH:>CI:G:HI:ME:CH:A:HH>CI:G:HI>C8DB:L6HB>AA>DC69:8G:6H:D;B>AA>DC6H

8DBE6G:9IDI=:EG>DG;>H86AN:6G

-=:9:8G:6H:>CC:I>CI:G:HI:ME:CH:6<6>CHII=:8DBE6G6I>K:E:G>D9L6HEG>B6G>AN9J:ID9:8G:6H:9>CI:G:HI:ME:CH:

;GDBADL:GA:K:AHD;6HH:I;>C6C8>C<6C98DBB:G8>6AE6E:G6C9=><=:GC:I>CI:G:HI>C8DB:;GDB86H=9:EDH>IH

)16761;87;1<1767.=;16-;;-;

JG>C<;>H86A6C9;>H86AI=:DBE6CNHDA9>CH><C>;>86CI7JH>C:HH:H6C9B69:69?JHIB:CIHID:HI>B6I:9

6BDJCIH;GDBEG>DGN:6GHT9>HEDH>I>DCHI=6IG:HJAI:9>C6<6>CD;B>AA>DC6C9B>AA>DCG:HE:8I>K:AN

<0-:6+75-@8-6;--<

(I=:G>C8DB::ME:CH:C:I8DBEG>H:HCDCH:GK>8:8DHI8DBEDC:CIHD;C:IE:G>D9>8E:CH>DC>C8DB:E:CH>DC6C9()

68IJ6G>6A6C9H:IIA:B:CI<6>CHADHH:HBDK:B:CI>C;DG:><C8JGG:C8N:M8=6C<:G6I:HDCDJG;DG:><C8JGG:C8N

9:CDB>C6I:96HH:IH6C9A>67>A>I>:H6C9I=:G:A6I:9:8DCDB>8=:9<:HADHH:H<6>CHDCG:6A:HI6I:6C9;68>A>INH6A:H6C9

DI=:GB>H8:AA6C:DJH<6>CH6C9ADHH:H

-=:8DBEDC:CIHD;DI=:G>C8DB::ME:CH:C:IL:G:6H;DAADLH

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16 =::/@6/<53

'DCH:GK>8:8DHI8DBEDC:CIHD;C:IE:G>D9>8E:CH>DC>C8DB:      

):CH>DC6C9()68IJ6G>6A6C9H:IIA:B:CI<6>CHADHH:H     

DG:><C8JGG:C8N<6>CH     

%DHH<6>CDCG:6A:HI6I:6C9;68>A>INH6A:H     

(I=:GB>H8:AA6C:DJH<6>CH6C9ADHH:H     

-DI6A      



(I=:G>C8DB::ME:CH:C:IL6HB>AA>DC>C;>H86A68=6C<:D;B>AA>DC6<6>CHII=:EG>DG;>H86AN:6G-=:

8=6C<:6<6>CHII=:EG>DG;>H86AN:6GL6HEG>B6G>AN9J:ID

W C:IE:G>D9>8E:CH>DC>C8DB:>C8G:6H:97NB>AA>DCEG>B6G>AN9J:ID8=6C<:H>C:ME:8I:9G:IJGCHDC6HH:IH6C9

DI=:G68IJ6G>6A6HHJBEI>DCH

W E:CH>DC6C9()68IJ6G>6A6C9H:IIA:B:CI<6>CHADHH:HL:G:B>AA>DC6C9B>AA>DCG:HE:8I>K:AN6

8=6C<:D;B>AA>DC;GDBB6G@IDB6G@:I69?JHIB:CIH6C9DI=:GH:IIA:B:CI<6>CHADHH:H

W ;DG:><C8JGG:C8N<6>CH9:8G:6H:9B>AA>DCEG>B6G>AN9J:IDBDK:B:CIHD;:M8=6C<:G6I:HDCDJG;DG:><C

8JGG:C8N9:CDB>C6I:96HH:IH6C9A>67>A>I>:HG:A6I:9=:9<:H>C8AJ9>C<;DGL6G98DCIG68IHIDB6C6<:DJG:MEDHJG:

ID:8DCDB>8G>H@6C9I=:8DHID;DJG=:9<>C<EGD<G6B

W ADHH:H<6>CHDCG:6A:HI6I:6C9;68>A>INL:G:B>AA>DC6C9B>AA>DCG:HE:8I>K:AN68=6C<:D;B>AA>DC

W 69:8G:6H:>CDI=:GB>H8:AA6C:DJH<6>CH6C9ADHH:HD;B>AA>DCEG>B6G>AN;GDB>BE6>GB:CIADHH:H>C;>H86A

6C9I=:<6>CDCI=:H6A:D;6HIG6I:<>8>CK:HIB:CI>C;>H86A

$)@-;

(JG:;;:8I>K:I6MG6I:-+DC>C8DB:ADHH;GDB8DCI>CJ>C<DE:G6I>DCH7:;DG:I6M:H;DG;>H86A6C9L6H

6C9G:HE:8I>K:ANG:8DC8>A>6I>DCD;I=:9>;;:G:C8:H7:IL::CI=:.,;:9:G6AHI6IJIDGNG6I:6C9I=:-+6H

L:AA6HDI=:G>C;DGB6I>DC67DJIDJG>C8DB:I6MEGDK>H>DC>HEGDK>9:9>C'DI:"C8DB:-6M:H

"C;>H86AI=:-+L6HEG>B6G>AN>BE68I:97N

W -=:<AD76AB>MD;>C8DB:6C98=6C<:H>C;DG:><CHI6IJIDGNI6MG6I:HL=>8=>C8G:6H:9I=:;DG:><CI6MG6I:

9>;;:G:CI>6A6C9I=:-+7NB>AA>DC6C9G:HE:8I>K:AN

W "C8DB:I6M6C9;DG:><CI6M8G:9>IHL=>8=9:8G:6H:9>C8DB:I6M:ME:CH:6C9I=:-+7NB>AA>DC6C9

G:HE:8I>K:AND;;H:I7NI6M:ME:CH:DC.,>CI:GC6I>DC6AI6M>C8AJH>DCHL=>8=>C8G:6H:9I6M:ME:CH:6C9I=:-+

7NB>AA>DC6C9G:HE:8I>K:AN

W -=:I6M7:C:;>ID;8=6C<:H>CJC8:GI6>CI6MEDH>I>DCHG:A6I:9IDI=::ME>G6I>DCD;I=:HI6IJI:D;A>B>I6I>DCH6C9

86E>I6A>O:9G:H:6G8=6C9:ME:G>B:CI6A:ME:C9>IJG:HD;;H:I7NI=:>BE68ID;>C8G:6H:H>CDI=:GJC8:GI6>CI6M

EDH>I>DCH6C9688GJ:9>CI:G:HIL=>8=9:8G:6H:9>C8DB:I6M:ME:CH:6C9I=:-+7NB>AA>DC6C9

G:HE:8I>K:AN

"C;>H86AI=:-+L6HEG>B6G>AN>BE68I:97N

W =6C<:H>C;DG:><C?JG>H9>8I>DC6AADHH:HI=6I9:8G:6H:9I=:-+7NB>AA>DC6C9G:HE:8I>K:ANL>I=6C

D;;H:II>C<>C8G:6H:>CI=:-+9J:ID6C>C8G:6H:>CI=:K6AJ6I>DC6AADL6C8:D;I=:H6B:6BDJCI

W "C8DB:I6M6C9;DG:><CI6M8G:9>IHL=>8=9:8G:6H:9>C8DB:I6M:ME:CH:6C99:8G:6H:9I=:-+7N

B>AA>DC6C9G:HE:8I>K:AND;;H:I7NI6M:ME:CH:DC.,>CI:GC6I>DC6AI6M>C8AJH>DCHL=>8=

>C8G:6H:9I6M:ME:CH:6C9>C8G:6H:9I=:-+7NB>AA>DC6C9G:HE:8I>K:AN

W DG:><CL>I==DA9>C<I6M:HL=>8=>C8G:6H:9>C8DB:I6M:ME:CH:6C9>C8G:6H:9I=:-+7NB>AA>DC

6C9G:HE:8I>K:AN

-=:"CI:GC6A+:K:CJ:,:GK>8:I=:U"+,V=6H:M6B>C:9DG>H:M6B>C>C<I=:DBE6CNTH;:9:G6A>C8DB:I6MG:IJGCH;DG

;>H86AN:6GHI=GDJ<=I=:I6MN:6G:C9:9(8ID7:G0>I=G:HE:8IID,TH;>H86AN:6GHI=GDJ<=

;:9:G6AI6MG:IJGCHI=:DBE6CNE6GI>8>E6I:9>CH:IIA:B:CIC:<DI>6I>DCHL>I=I=:"+,(;;>8:D;EE:6AH-=:"+,:M6B>C:9

H:K:G6A>HHJ:H;DGI=:H:I6MN:6GHI=6IG:HJAI:9>CK6G>DJH6J9>I69?JHIB:CIH-=:DBE6CN6C9I=:"+,(;;>8:D;EE:6AH

=6K:H:IIA:9K6G>DJH6J9>I69?JHIB:CIH6C9L:9>H6<G::L>I=I=:"+,T9>H6AADL6C8:D;8:GI6>CADHH:H6C99:9J8I>DCH

G:HJAI>C<;GDBG:HIGJ8IJG>C<8DHIH;DG:><C:M8=6C<:ADHH:H6C96I=>G9E6GIN;>C6C8>C<IG6CH68I>DC>CEG:K>DJHN:6GH

0:=6K:G:8:>K:9CDI>8:HD;9:;>8>:C8N6C96;>C6AE6GIC:GH=>E69B>C>HIG6I>K:69?JHIB:CIL>I=G:HE:8IID;>H86AN:6GH

6C96C9=6K:I>B:AN;>A:9E:I>I>DCHL>I=I=:.,-6MDJGI

-=:.,-6MDJGI86H:H<:C:G6AAN>CKDAK:I=G::EG>B6GN>HHJ:H-=:;>GHI>HHJ:E:GI6>CHID686E>I6AADHHI=:DBE6CN

8A6>B:9>C;>H86AN:6G>CI=:6BDJCID;B>AA>DCL=>8=I=:"+,HJ7H:FJ:CIAN9>H6AADL:96C9;DGL=>8=>I

EGDEDH:96HJ7HI6CI>6AJC9:GHI6I:B:CIE:C6AIN-=:IDI6A86H=I6ME6NB:CII=:"+,>HH::@>C<>H6EEGDM>B6I:AN

B>AA>DC>C8AJH>K:D;E:C6AI>:H6C9>CI:G:HIL=>8=8DCI>CJ:HID688GJ:-=:B6II:G>H8JGG:CIANH8=:9JA:9;DGIG>6A>CJ<JHI





-=:H:8DC9>HHJ:E:GI6>CHIDI=:DBE6CNTH9:9J8I>DC;DGG:HIGJ8IJG>C<:ME:CH:H>C;>H86AN:6G>CI=:6BDJCID;

B>AA>DCL=>8=I=:"+,=6H9>HEJI:9-=:IDI6A86H=I6ME6NB:CII=:"+,>HH::@>C<>H6EEGDM>B6I:ANB>AA>DC

>C8AJH>K:D;E:C6AI>:H6C9>CI:G:HIL=>8=8DCI>CJ:HID688GJ:"C#6CJ6GNI=:DJGI9:C>:9I=:"+,THBDI>DC;DG

HJBB6GN?J9<B:CIIG>6A96I:>HE:C9>C<

-=:I=>G9>HHJ:EG>B6G>ANE:GI6>CHID;DG:><C8JGG:C8NADHH:H;GDBI=6II=:DBE6CN8A6>B:9>C;>H86AN:6GH6C9

>CI=:6BDJCID;B>AA>DCG:HJAI>C<;GDBI=:9:EG:8>6I>DCD;I=:.,9DAA6G6<6>CHII=:JGDDK:G6C:><=IN:6G

E:G>D9;GDBIDJEDCI:GB>C6I>DCD;6E6GIC:GH=>E>CI:G:HI>CKDAK>C<ILD:CI>I>:HL>I=9>;;:G:CI;JC8I>DC6A

8JGG:C8>:H-=:IDI6A86H=I6ME6NB:CII=:"+,>HH::@>C<>H6EEGDM>B6I:ANB>AA>DC>C8AJH>K:D;E:C6AI>:H6C9

>CI:G:HIL=>8=8DCI>CJ:HID688GJ:-=>HB6II:G>H8JGG:CIANE:C9>C<6HJBB6GN?J9<B:CIBDI>DC;GDBI=:"+,

HL:7:A>:K:L:L>AAJAI>B6I:ANEG:K6>ADCI=:I:8=C>86AB:G>IHD;I=:9>H6<G::9>I:BH6C96G:8=6AA:C<>C<I=:B>CI=:.,

-6MDJGII=:67DK:B6II:GH6G:CDI;JAANG:H:GK:96C9LDJA9G:HJAI>C>C8G:B:CI6A;:9:G6A6C9HI6I:I6M:ME:CH:D;

6EEGDM>B6I:ANB>AA>DC>C8AJ9>C<:HI>B6I:9>CI:G:HI6C9E:C6AI>:H;DGI=:JCG:H:GK:9EDGI>DCD;I=:H:>I:BH6C986H=

I6ME6NB:CIHD;6EEGDM>B6I:ANB>AA>DC>;L:9DCDIEG:K6>A-=:H:6BDJCIH6G:C:ID;6C:ME:8I:9B>AA>DC

>CI:G:HI9:9J8I>DCI6M7:C:;>I

JG>C<;>H86AI=:DBE6CN9:I:GB>C:9I=:G:L:G:>C69K:GI:CIDB>HH>DCHDCEG:K>DJHAN;>A:9I6MG:IJGCHG:A6I:9ID

<6>CG:8D<C>I>DC6<G::B:CIH6C98:GI6>CG:A6I:9I6M;DGBH6C99>H8ADHJG:H-=:DBE6CNCDI>;>:9I=:"+,EGDBEIAN6C9

;>A:9;DGG:A>:;JC9:G-G:6H+:<,:86EID8DGG:8II=:>HHJ:

-=:DBE6CNTH;>H86AN:6GH6C96G:>CI=:.,-6MDJGI6C98DCH:FJ:CIANI=:H:N:6GHL>AAG:B6>C

DE:CJCI>AHJ8=EGD8::9>C<H=6K:8DC8AJ9:9-=:DBE6CN=6H6<G::9ID:MI:C9I=:HI6IJI:D;A>B>I6I>DCH;DG;>H86A6C9

I6MG:IJGCN:6GHI=GDJ<=ID:8:B7:G-=:DBE6CN:ME:8IHIDG:68=G:HDAJI>DC;DG;>H86A6C9I6M

G:IJGCN:6GHI=GDJ<=CD:6GA>:GI=6C;>H86AN:6G-=:DBE6CN:ME:8IHIDG:68=G:HDAJI>DC;DG;>H86A6C9

I6MG:IJGCN:6GH6C9CD:6GA>:GI=6C;>H86AN:6G-=:DBE6CN:ME:8IHIDG:68=G:HDAJI>DC;DG;>H86A6C9

I6MG:IJGCN:6GHI=GDJ<=CD:6GA>:GI=6C;>H86AN:6G

-=:DBE6CNB6NH:IIA:8:GI6>CDI=:GI6M:M6B>C6I>DCH;DG9>;;:G:CI6BDJCIHI=6CI=:DBE6CN=6H688GJ:96H

JC8:GI6>CI6MEDH>I>DCHDCH:FJ:CIANI=:DBE6CNB6NC::9ID688GJ:6C9JAI>B6I:ANE6N699>I>DC6A6BDJCIHDGE6N

ADL:G6BDJCIHI=6CEG:K>DJHAN:HI>B6I:96C9688GJ:9L=:CEDH>I>DCH6G:H:IIA:9>CI=:;JIJG:-=:DBE6CN7:A>:K:HI=:

DJI8DB:HI=6I6G:G:6HDC67ANEDHH>7A:L>I=>CI=:C:MIBDCI=HIDG:HJAI>C6G:9J8I>DC>C>IHA>67>A>IN;DGJC8:GI6>CI6M

EDH>I>DCH:M8AJ9>C<>CI:G:HIE:C6AI>:H6C9I6M86GGN;DGL6G9HLDJA97:6EEGDM>B6I:ANB>AA>DC

):616/;!-:#0):-!#

>AJI:9),;DG;>H86AL6H6C>C8G:6H:D;8DBE6G:9IDI=:EG>DG;>H86AN:6G-=:>C8G:6H:>C9>AJI:9),

6<6>CHII=:EG>DG;>H86AN:6GL6HEG>B6G>AN9J:ID6C>C8G:6H:>CC:I>C8DB:6IIG>7JI67A:ID18DBBDCHID8@=DA9:GH6C9

6ADL:GL:><=I:96K:G6<:H=6G:8DJCI;GDBI=:DBE6CNTHH=6G:G:EJG8=6H:H

>AJI:9),;DG;>H86A>C8AJ9:HE:GH=6G:D;G:HIGJ8IJG>C<8DHIHE:GH=6G:D;IG6CH68I>DCH:E6G6I>DC6C9

>CI:<G6I>DCG:A6I:98DHIHE:GH=6G:D;6BDGI>O6I>DCD;68FJ>G:9>CI6C<>7A:6HH:IHE:GH=6G:D;B:G<:G

G:A6I:9>C9:BC>;>86I>DCE:GH=6G:D;>BE6>GB:CIADHH:HE:GH=6G:D;C:I<6>CHDC9>HEDH>I>DCHE:G

H=6G:D;C:IADHH:HDCG:6A:HI6I:6C9;68>A>INH6A:HE:GH=6G:D;E:CH>DC6C9()68IJ6G>6A6C9H:IIA:B:CI

<6>CH6C9E:GH=6G:D;I6M69?JHIB:CIHEG>B6G>ANG:A6I>C<IDI6M69?JHIB:CIHID>BE6>GDGG:8D<C>O:8:GI6>C

9:;:GG:9I6M6HH:IH6C969?JHIB:CIH;DG8=6C<:H>CI6MA:<>HA6I>DC



76!16)6+1)4-);=:-;

0:EG:H:CICDC );>C6C8>6AB:6HJG:HD;E:G;DGB6C8:L=>8=6G:9:G>K:9;GDBI=:HI6I:B:CIHD;DE:G6I>DCHD;1

-=:H:CDC );>C6C8>6AB:6HJG:H>C8AJ9::6GC>C<H7:;DG:>CI:G:HI6C9I6M:HU"-V69?JHI:9"-CDC )

>C8DB:7:;DG:>C8DB:I6M:HCDC )C:I>C8DB:CDC )C:I>C8DB:6IIG>7JI67A:ID18DBBDCHID8@=DA9:GH

CDC )),DG<6C>8G:K:CJ:<GDLI=8DCHI6CI8JGG:C8NG:K:CJ:H6C9;G::86H=;ADL

0:7:A>:K:"-69?JHI:9"-CDC )>C8DB:7:;DG:>C8DB:I6M:HCDC )C:I>C8DB:CDC )C:I>C8DB:

6IIG>7JI67A:ID18DBBDCHID8@=DA9:GH6C9CDC )),EGDK>9:>CK:HIDGHL>I=JH:;JAHJEEA:B:CI6A>C;DGB6I>DC

67DJIDJGDE:G6I>C<E:G;DGB6C8:6;I:G:M8AJ9>C<8:GI6>C86I:<DG>:HD;:ME:CH:H6HL:AA6H<6>CH6C9ADHH:HDC8:GI6>C

9>HEDH>I>DCH6C98:GI6>CI6M69?JHIB:CIH

0:7:A>:K:8DCHI6CI8JGG:C8NG:K:CJ:HEGDK>9:H>CK:HIDGHL>I=JH:;JAHJEEA:B:CI6A>C;DGB6I>DC67DJIDJGG:K:CJ:H6;I:G

:M8AJ9>C<I=::;;:8ID;8JGG:C8N:M8=6C<:G6I:;AJ8IJ6I>DCH;DG8JGG:C8>:HDI=:GI=6C.,9DAA6GH>CI=:E:G>D9HEG:H:CI:9

,::7:ADL;DG69:H8G>EI>DCD;I=:B:I=D9DAD<NL:JH:IDEG:H:CI8DCHI6CI8JGG:C8NG:K:CJ:H

(C:86I:<DGND;:ME:CH:H:M8AJ9:9;GDB69?JHI:9"-CDC )>C8DB:7:;DG:>C8DB:I6MCDC )C:I>C8DB:

CDC )C:I>C8DB:6IIG>7JI67A:ID18DBBDCHID8@=DA9:GH6C9CDC )),>C8G:B:CI6A6BDGI>O6I>DCD;

>CI6C<>7A:6HH:IH68FJ>G:9I=GDJ<=7JH>C:HH8DB7>C6I>DCH>;>C8AJ9:9B6NG:HJAI>C6H><C>;>86CI9>;;:G:C8:>CE:G>D9DK:G

E:G>D96BDGI>O6I>DC:ME:CH:DC6 )76H>H0::M8AJ9:6BDGI>O6I>DCD;8:GI6>C68FJ>G:9>CI6C<>7A:6HH:IH6HI=:H:

CDC86H=6BDJCIH6G:>C8DCH>HI:CI>C6BDJCI6C9;G:FJ:C8N6C96G:H><C>;>86CIAN>BE68I:97NI=:I>B>C<6C9DGH>O:D;

68FJ>H>I>DCHAI=DJ<=1B6C6<:B:CI:M8AJ9:H6BDGI>O6I>DCD;68FJ>G:9>CI6C<>7A:6HH:IHEG>B6G>AN8JHIDB:GG:A6I:9

>CI6C<>7A:6HH:IH;GDB>IHCDC ):ME:CH:HL:7:A>:K:I=6I>I>H>BEDGI6CI;DG>CK:HIDGHIDJC9:GHI6C9I=6IHJ8=

>CI6C<>7A:6HH:IHL:G:G:8DG9:96HE6GID;EJG8=6H:688DJCI>C<6C9HJEEDGIG:K:CJ:<:C:G6I>DCCN;JIJG:IG6CH68I>DCH

B6NG:HJAI>C68=6C<:IDI=:68FJ>G:9>CI6C<>7A:6HH:I76A6C8:H6C96HHD8>6I:96BDGI>O6I>DC:ME:CH:

CDI=:G86I:<DGND;:ME:CH:H:M8AJ9:9;GDB69?JHI:9"-CDC )>C8DB:7:;DG:>C8DB:I6MCDC )C:I

>C8DB:CDC )C:I>C8DB:6IIG>7JI67A:ID18DBBDCHID8@=DA9:GH6C9CDC )),>H>BE6>GB:CIADHH:H

L=>8=>;>C8AJ9:9B6NG:HJAI>C6H><C>;>86CI9>;;:G:C8:>CE:G>D9DK:GE:G>D9:ME:CH:DC6 )76H>H0::M8AJ9:

>BE6>GB:CIADHH:H6HI=:H:CDC86H=6BDJCIHG:;A:8I<:C:G6AAN6C688:A:G6I>DCD;L=6ILDJA97:BJAI>EA:E:G>D9HD;

:ME:CH:6C96G:CDI:ME:8I:9IDD88JG;G:FJ:CIANJGI=:G6HH:IHHJ8=6H<DD9L>AAB6N7:H><C>;>86CIAN>BE68I:97N

B6G@:I8DC9>I>DCHDJIH>9:D;B6C6<:B:CITH8DCIGDA

,:A:8I:9G:;:G:C8:H6G:B69:IDG:K:CJ:<GDLI=DC6CUDG<6C>876H>HVHDI=6I8:GI6>C;>C6C8>6AG:HJAIH86C7:K>:L:9

L>I=DJII=:>BE68ID;;AJ8IJ6I>DCH>C;DG:><C8JGG:C8NG6I:H6C9L>I=DJII=:>BE68IHD;68FJ>H>I>DCH6C99>K:HI>IJG:H

I=:G:7NEGDK>9>C<8DBE6G>HDCHD;DE:G6I>C<E:G;DGB6C8:;GDBE:G>D9IDE:G>D9D;I=:7JH>C:HHI=6IL:=6K:DLC:99JG>C<

7DI=E:G>D9HEG:H:CI:9(G<6C>8G:K:CJ:<GDLI=>H86A8JA6I:97N9>K>9>C<I=:N:6GDK:GN:6G8=6C<:>C )G:K:CJ:H

6IIG>7JI:9IDDG<6C>8<GDLI=7NI=: )G:K:CJ:HG:EDGI:9>CI=:EG>DG8DBE6G67A:E:G>D9(G<6C>8G:K:CJ:>H86A8JA6I:9

6H8DCHI6CI8JGG:C8NG:K:CJ::M8AJ9>C<I=:>BE68ID;B:G<:GH68FJ>H>I>DCHDGH>B>A6GIG6CH68I>DCHJCI>AI=:DC:N:6G

6CC>K:GH6GND;I=:IG6CH68I>DC6C9:M8AJ9>C<G:K:CJ:HD;9>K:HI>IJG:H9JG>C<I=:G:EDGI>C<E:G>D9-=>H6EEGD68=>HJH:9

;DG6AAG:HJAIHL=:G:I=:;JC8I>DC6A8JGG:C8N>HCDII=:.,9DAA6G0:7:A>:K:DG<6C>8G:K:CJ:<GDLI=EGDK>9:H>CK:HIDGH

L>I=JH:;JAHJEEA:B:CI6A>C;DGB6I>DC67DJIDJGG:K:CJ:H6;I:G:M8AJ9>C<I=::;;:8ID;8JGG:C8N:M8=6C<:G6I:;AJ8IJ6I>DCH

;DG8JGG:C8>:HDI=:GI=6C.,9DAA6GH6C9I=::;;:8IHD;68FJ>H>I>DCH6C99>K:HI>IJG:H>C7DI=E:G>D9HEG:H:CI:9

G::86H=;ADLG:EG:H:CIH86H=;ADL;GDBDE:G6I>DCHA:HH86E>I6A:ME:C9>IJG:HG::86H=;ADL>HJI>A>O:97NDJG

B6C6<:B:CI>CK:HIDGH6C96C6ANHIHID:K6AJ6I:86H=6K6>A67A:IDE6N9:7IG:EJG8=6H:H=6G:H6C9EGDK>9:;JGI=:G

>CK:HIB:CI>CI=:7JH>C:HH



-=:G:6G:A>B>I6I>DCHIDI=:JH:D;I=:CDC );>C6C8>6AB:6HJG:HEG:H:CI:9>CI=>HG:EDGI(C:D;I=:A>B>I6I>DCH>HI=6I

I=:N9DCDIG:;A:8I8DBEA:I:;>C6C8>6AG:HJAIH0:8DBE:CH6I:;DGI=>HA>B>I6I>DC7NEGDK>9>C<6G:8DC8>A>6I>DC7:IL::CDJG

CDC );>C6C8>6AB:6HJG:H6C9I=:G:HE:8I>K:BDHI9>G:8IAN8DBE6G67A:;>C6C8>6AB:6HJG:86A8JA6I:96C9EG:H:CI:9>C

688DG96C8:L>I= )99>I>DC6AANDI=:G8DBE6C>:H>C8AJ9>C<8DBE6C>:H>CDJG>C9JHIGNB6N86A8JA6I:CDC )

;>C6C8>6AB:6HJG:H9>;;:G:CIANI=6CL:9DA>B>I>C<I=:JH:;JAC:HHD;I=DH:B:6HJG:H;DG8DBE6G6I>K:EJGEDH:H7:IL::C

8DBE6C>:H,:A:8I:9G:;:G:C8:H6G:B69:DC6U8DCHI6CI8JGG:C8N76H>HVHDI=6I8:GI6>C;>C6C8>6AG:HJAIH86C7:K>:L:9

L>I=DJII=:>BE68ID;;AJ8IJ6I>DCH>C;DG:><C8JGG:C8NG6I:HI=:G:7NEGDK>9>C<8DBE6G>HDCHD;DE:G6I>C<E:G;DGB6C8:;GDB

E:G>D9IDE:G>D9>C6C8>6AG:HJAIHDC6U8DCHI6CI8JGG:C8N76H>HV6G:CDC )B:6HJG:H86A8JA6I:97NIG6CHA6I>C<

8JGG:CIE:G>D968I>K>IN>CID.,DAA6GHJH>C<I=:8DBE6G67A:EG>DGE:G>D9TH8JGG:C8N8DCK:GH>DCG6I:H-=>H6EEGD68=>H

JH:9;DG6AAG:HJAIHL=:G:I=:;JC8I>DC6A8JGG:C8N>HCDII=:.,DAA6G)A:6H:H::U&6C6<:B:CITH>H8JHH>DC6C9

C6ANH>HD;>C6C8>6ADC9>I>DC6C9+:HJAIHD;(E:G6I>DCHS+:HJAIHD;(E:G6I>DCHS+:K:CJ:HV

:GI6>CCDC );>C6C8>6AB:6HJG:H6C9I=:G:HE:8I>K:BDHI9>G:8IAN8DBE6G67A:;>C6C8>6AB:6HJG:H86A8JA6I:96C9

EG:H:CI:9>C688DG96C8:L>I= )>C8AJ9:

=::/@;=C<B

7A1/:.3/@A<232 6/<53

>CB>AA>DCH "/@16 "/@16 =::/@ %3@13<B

"C8DB:7:;DG:>C8DB:I6M:H       '&

'DC )>C8DB:7:;DG:>C8DB:I6M:H       

':I>C8DB:       '&

9?JHI:9"-       

+743>;;0A0=3?4A24=C270=645>A!=2><4145>A48=2><4C0G4B0=3&4C8=2><48=2;D34(4=B8>=0=3'(02CD0A80;0=3B4CC;4<4=C608=B0=3

0;2D;0C8>=8B=>C<40=8=65D;&%3D4C>8=2;DB8>=>5(4=B8>=0=3'(02CD0A80;0=3B4CC;4<4=C608=B0=3;>BB4B



)42>=28;80C8>=>5&>=(8=0=280;%40BDA4B

(JGCDC )69?JHIB:CIH>C8AJ9:

W +:HIGJ8IJG>C<8DHIHR>C8AJ9:H8DHIHC:ID;G:K:GH6AHG:A6I:9IDLDG@;DG8:6C9G:6A:HI6I:DEI>B>O6I>DC6C9DI=:G

H>B>A6G8=6G<:H

W -G6CH68I>DCH:E6G6I>DC6C9>CI:<G6I>DCG:A6I:9U-,"V8DHIHR>C8AJ9:H8DHIHG:A6I:9ID>CI:<G6I>DCH:E6G6I>DC

EA6CC>C<;>C6C8>C<6C969K>HDGN;::H6C9DI=:GH>B>A6G8=6G<:H6HHD8>6I:9L>I=B:G<:GH68FJ>H>I>DCHHIG6I:<>8

>CK:HIB:CIH?D>CIK:CIJG:H6C99>HEDH>I>DCH6C9DI=:GH>B>A6GIG6CH68I>DCH>C8JGG:9L>I=>CDC:N:6GD;HJ8=

IG6CH68I>DCH8ADH>C<:M8:EI;DG8DHIH6HHD8>6I:9L>I=G:A6I:99>HEJI:HL=>8=B6N6G>H:BDG:I=6CDC:N:6G6;I:G

8ADH>C<

W BDGI>O6I>DCD;68FJ>G:9>CI6C<>7A:6HH:IHR>C8AJ9:H6BDGI>O6I>DCD;>CI6C<>7A:6HH:IH68FJ>G:9I=GDJ<=7JH>C:HH

8DB7>C6I>DCH

W ):CH>DC6C9()68IJ6G>6A6C9H:IIA:B:CI<6>CH6C9ADHH:HRE:CH>DC6C9()68IJ6G>6AB6G@IDB6G@:I

69?JHIB:CIH6C9H:IIA:B:CI<6>CH6C9ADHH:H

W &:G<:GG:A6I:9>C9:BC>;>86I>DCR>C;>H86A6C9;>H86AG:EG:H:CIHI=:DBE6CNTH:HI>B6I:D;EDI:CI>6A

C:IA>67>A>INID!);DGI6MG:A6I:9>C9:BC>;>86I>DCH

W 6>CH6C9ADHH:HDC9>HEDH>I>DCHR<6>CH6C9ADHH:HG:A6I:9ID9>HEDH>I>DCHD;7JH>C:HH:HHIG6I:<>86HH:IH6C9

>CI:G:HIH>CA:HHI=6CL=DAANDLC:9:CI>I>:H

W 6>CH6C9ADHH:HDCG:6A:HI6I:6C9;68>A>INH6A:HR<6>CH6C9ADHH:HG:A6I:9ID9>HEDH>I>DCHD;G:6AEGDE:GIN

W "BE6>GB:CIADHH:HRCDC86H=8=6G<:H6HHD8>6I:9L>I=I=:E:GB6C:CIG:9J8I>DC>CI=:K6AJ:D;I=:DBE6CNTH

6HH:IH:<>BE6>GB:CID;<DD9L>AA6C9DI=:GADC<I:GB6HH:IH>C8AJ9>C<;>M:96HH:IH6C9>BE6>GB:CIHID9:;:GG:9

I6M6HH:IH;DG9>H8G:I:8=6C<:H>CK6AJ6I>DC6AADL6C8:HJIJG:9>H8G:I:G:K:GH6AHD;K6AJ6I>DC6AADL6C8:H6G:

A>@:L>H::M8AJ9:9

W -6M69?JHIB:CIHR9>H8G:I:I6M69?JHIB:CIHID>BE6>GDGG:8D<C>O:8:GI6>C9:;:GG:9I6M6HH:IH69?JHIB:CIH;DG

8=6C<:H>CI6MA:<>HA6I>DC6C969?JHIB:CIHIDIG6CH>I>DCI6M"C8DB:I6M:ME:CH:7:C:;>I;GDBI=:>BE68ID;

B:G<:GH6C99>K:HI>IJG:H>HH:E6G6I:AN8DBEJI:976H:9DCI=:JC9:GAN>C<IG6CH68I>DC"C8DB:I6M:ME:CH:D;6AA

DI=:GCDC9>H8G:I:CDC )69?JHIB:CIH>H8DBEJI:97N6EEAN>C<I=:?JG>H9>8I>DC6AI6MG6I:IDI=:EG:I6M

69?JHIB:CIHDC6?JG>H9>8I>DC6A76H>H

*C0AC8=68=C7458B20;@D0AC4A4=343*4?C4<14AC74><?0=HLBA4?>AC43=>=(58=0=280;A4BD;CBA45;42C0=

039DBC<4=C5>A608=B0=3;>BB4B>=A40;4BC0C40=35028;8C84B38B?>B8C8>=BF7827C74><?0=HLB2DAA4=C<0=064<4=C

14;84E4B0A4=>CA45;42C8E4>5C742>A4>?4A0C8=6?4A5>A<0=24>5>DA1DB8=4BB>A2><?0A018;8CH?DA?>B4B78BC>A820;=>=

(58=0=280;<40BDA4BB4C5>AC774A48=70E4144=A420BCC>A45;42CC78B270=64F78278=2;D343608=B>=38B?>B8C8>=B>5

A40;?A>?4ACH>50??A>G8<0C4;H<8;;8>=5>AC7458B20;H40A4=343%0A27



G:8DC8>A>6I>DCD;G:EDGI:9G:HJAIHIDCDC )G:HJAIH>H6H;DAADLH

7A1/:.3/@<232"/@16

>CB>AA>DCH:M8:EIE:G

H=6G:6BDJCIH

A

'3>=@B32

'3AB@C1BC@7<5

=ABA

)@/<A/1B7=<

(3>/@/B7=<

/<2

<B35@/B7=<

'3:/B32

=ABA

;=@B7H/B7=

=41?C7@32

<B/<570:3

AA3BA

"3@53@

'3:/B32

<23;<7471/

B7=<

;>/7@;3<B

!=AA3A

/7<A/<2

!=AA3A=<

7A>=A7B7=

/7<A/<2

!=AA3A=<

'3/:AB/B3

/<2/17:7BG

(/:3A

%3<A7=</<2

$%

1BC/@7/:

/<2

(3BB:3;3<B

/7<A/<2

!=AA3A

)/F

28CAB;3

#=<%

'3AC:BA

"C8DB:7:;DG:>C8DB:

I6M:H                    S  

"C8DB:I6M:ME:CH:                      

':I>C8DB:                      

%:HHC:I>C8DB:

6IIG>7JI67A:IDCDC

8DCIGDAA>C<>CI:G:HIC:I

D;I6M    S  S  S  S  S  S  S    S  

':I>C8DB:6IIG>7JI67A:

ID18DBBDC

HID8@=DA9:GH                      

;;:8I>K:-6M+6I:  

6H>8),                      

>AJI:9),                      

0:><=I:96K:G6<:

8DBBDCH=6G:H

DJIHI6C9>C

;DG

6H>8),                      

>AJI:9),                      

7A1/:.3/@<232"/@16

>CB>AA>DCH:M8:EIE:GH=6G:

6BDJCIH

A

'3>=@B32

'3AB@C1BC@7

=ABA

)@/<A/1B7=<

(3>/@/B7=<

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<B35@/B7=<

'3:/B32

=ABA

;=@B7H/B7=<

=41?C7@32

<B/<570:3

AA3BA

"3@53@

'3:/B32

<23;<7471

/B7=<

;>/7@;3<

B!=AA3A

/7<A/<2

!=AA3A=<

7A>=A7B7=

/7<A/<2

!=AA3A=<

'3/:AB/B3

/<2/17:7BG

(/:3A

%3<A7=</<2

$%

1BC/@7/:

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(3BB:3;3<B

/7<A/<2

!=AA3A

)/F

28CAB;

3<B

#=<%

'3AC:BA

"C8DB:7:;DG:>C8DB:I6M:H                    S  

"C8DB:I6M:ME:CH:                      

':I>C8DB:                      

%:HHC:IADHH6IIG>7JI67A:ID

CDC8DCIGDAA>C<>CI:G:HIC:ID;

I6M    S  S  S  S    S  S    S  

':I>C8DB:6IIG>7JI67A:ID

18DBBDCHID8@=DA9:GH                      

;;:8I>K:-6M+6I:  

6H>8),                      

>AJI:9),                      

0:><=I:96K:G6<:8DBBDC

H=6G:HDJIHI6C9>C<;DG

6H>8),                      

>AJI:9),                      



+:8DC8>A>6I>DCHD;G:K:CJ:<GDLI=IDDG<6C>8G:K:CJ:<GDLI=6G:6H;DAADLH

7A1/:.3/@A<232

"/@16 "/@16

-DI6AG:K:CJ:<GDLI= 

DG:><C8JGG:C8N  

8FJ>H>I>DCH6C99>K:HI>IJG:H  

(G<6C>8G:K:CJ:<GDLI= 

,G:K:CJ:<GDLI= 

DG:><C8JGG:C8N  

8FJ>H>I>DCH6C99>K:HI>IJG:H  

,DG<6C>8G:K:CJ:<GDLI= 

",G:K:CJ:<GDLI= 

DG:><C8JGG:C8N  

8FJ>H>I>DCH6C99>K:HI>IJG:H S S

",DG<6C>8G:K:CJ:<GDLI= 

+:8DC8>A>6I>DCHD;C:I>C8DB:ID69?JHI:9"-6G:6H;DAADLH

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16

':I>C8DB:    

"C8DB:I6M:ME:CH:   

"CI:G:HI>C8DB:   

"CI:G:HI:ME:CH:   

"-   

+:HIGJ8IJG>C<8DHIH   

-G6CH68I>DCH:E6G6I>DC6C9>CI:<G6I>DCG:A6I:98DHIH   

BDGI>O6I>DCD;68FJ>G:9>CI6C<>7A:6HH:IH   

&:G<:GG:A6I:9>C9:BC>;>86I>DC   

6>CHDC9>HEDH>I>DCH   

%DHH:H<6>CHDCG:6A:HI6I:6C9;68>A>INH6A:H   

"BE6>GB:CIADHH:H   

):CH>DC6C9()68IJ6G>6A6C9H:IIA:B:CI<6>CHADHH:H   

9?JHI:9"-    



!7?C727BG/<2/>7B/:'3A=C@13A

);0)6,);09=1>)4-6<;)6,);047?;

HD;&6G8=DJG86H=6C986H=:FJ>K6A:CIH86H=L:G:7>AA>DCD;L=>8=7>AA>DCL6H=:A9DJIH>9:D;

I=:.,0:B6>CI6>CK6G>DJHBJAI>8JGG:C8NBJAI>:CI>IN8GDHH7DG9:GE=NH>86A6C9CDI>DC6A86H=EDDA6GG6C<:B:CIHL>I=

K6G>DJH8DJCI:GE6GI>:HIDB6C6<:A>FJ>9>IN:;;>8>:CIANI=6I:C67A:E6GI>8>E6I>C<HJ7H>9>6G>:HID9G6LDCI=:DBE6CNTH

EDDA:9G:HDJG8:HIDB::IA>FJ>9>INC::9H

H><C>;>86CIEDGI>DCD;I=:86H==:A97NDJG;DG:><CHJ7H>9>6G>:H>HCDI:ME:8I:9ID7:>BE68I:97N.,;:9:G6A>C8DB:I6M

JEDCG:E6IG>6I>DC!DL:K:G6EDGI>DCD;I=>H86H=B6NHI>AA7:HJ7?:8IID;DG:><C6C9.,HI6I:>C8DB:I6M8DCH:FJ:C8:H

JEDC;JIJG:G:B>II6C8:-=:G:;DG:>;699>I>DC6A;JC9H=:A9DJIH>9:I=:.,6G:C::9:9;DGDJGDE:G6I>DCH>CI=:.,L:

EA6CIDG:E6IG>6I:I=:H:;JC9HCDI9:H><C6I:96H>C9:;>C>I:ANG:>CK:HI:9

0:=6K:7>AA>DC>C86H==:A97N;DG:><CHJ7H>9>6G>:HJH:9;DGAD86ADE:G6I>DCHI=6I>HHJ7?:8IID8DJCIGNHE:8>;>8

A>B>I6I>DCHL=>8=B6NG:HIG>8IDGG:HJAI>C>C8G:6H:98DHIH>CI=:G:E6IG>6I>DCD;I=:H:;JC9H"C699>I>DCDI=:GEG68I>86A

8DCH>9:G6I>DCHB6NA>B>IDJGJH:D;8DCHDA>96I:986H=-=>H>C8AJ9:H86H=D;7>AA>DC=:A97NB6?DG>INDLC:9

8DCHDA>96I:9HJ7H>9>6G>:HL=:G:I=>G9E6GI>:HDGEJ7A>8H=6G:=DA9:GH=DA9B>CDG>IN>CI:G:HIH

-=:;DAADL>C<I67A:HJBB6G>O:HDJG86H=;ADL68I>K>IN

7A1/:.3/@<232

>CB>AA>DCH "/@16 "/@16 6/<53

':I86H=EGDK>9:97NJH:9>C

(E:G6I>C<68I>K>I>:H      

"CK:HI>C<68I>K>I>:H     

>C6C8>C<68I>K>I>:H     

;;:8ID;:M8=6C<:G6I:8=6C<:HDC86H=6C986H=:FJ>K6A:CIH      

#3B7<1@3/A3231@3/A37<1/A6/<21/A63?C7D/:3<BA      

6H=6C986H=:FJ>K6A:CIH6I7:<>CC>C<D;N:6G   

6H=6C986H=:FJ>K6A:CIH6I:C9D;N:6G    

'?4A0C8=620B75;>F

':I86H=EGDK>9:97NDE:G6I>C<68I>K>I>:HL6HB>AA>DC 6C9B>AA>DCG:HE:8I>K:AN>C;>H86A6C9;>H86A

G:;A:8I>C<6N:6GDK:GN:6G>C8G:6H:D;B>AA>DC(E:G6I>C<86H=;ADL6<6>CHII=:8DBE6G6I>K:E:G>D9>C8AJ9:9

W6C>C8G:6H:>CC:I>C8DB:C:ID;69?JHIB:CIHD;B>AA>DCE6GI>6AAND;;H:I7N

W 6 B>AA>DCJC;6KDG67A:8=6C<:>CLDG@>C<86E>I6A9J:ID=><=:GLDG@>C<86E>I6ADJI;ADLH9JG>C<;>H86A

-=:;DAADL>C<I67A:8DCI6>CH8:GI6>C@:NLDG@>C<86E>I6AB:IG>8H

)6@33;=<B6A3<232

"/@16 "/@16 "/@16

6NHD;H6A:HDJIHI6C9>C<>C688DJCIHG:8:>K67A:     

6NHD;EJG8=6H:HDJIHI6C9>C<>C688DJCIHE6N67A:     

6H=8DCK:GH>DC8N8A:     



!=E4BC8=620B75;>F

':I86H=JH:9>C>CK:HI>C<68I>K>I>:HL6HB>AA>DC6C9B>AA>DCG:HE:8I>K:AN>C;>H86A6C9;>H86A

G:;A:8I>C<6N:6GDK:GN:6G8=6C<:D;B>AA>DC-=:8=6C<:L6HEG>B6G>AN9J:ID

W 6B>AA>DCN:6GDK:GN:6G>C8G:6H:>C86H=DJI;ADLH;GDB86E>I6A:ME:C9>IJG:HEG>B6G>AN;GDBHD;IL6G:

EJG8=6H:96C99:K:ADE:9E6GI>6AAND;;H:I7N

W 6C>C8G:6H:>CEGD8::9H;GDBH6A:D;6HH:IHD;B>AA>DC

8=0=28=620B75;>F

':I86H=JH:9>C;>C6C8>C<68I>K>I>:HL6HB>AA>DC6C9B>AA>DCG:HE:8I>K:AN>C;>H86A6C9;>H86A

G:;A:8I>C<6N:6GDK:GN:6G8=6C<:D;B>AA>DC-=:8=6C<:L6HEG>B6G>AN9J:ID

W 6CB>AA>DC9:8G:6H:>C86H=JH:9;DGH=6G:G:EJG8=6H:68I>K>IN6C9G:A6I:9I6M:HE6>9DCC:IH=6G:

H:IIA:B:CIH

W 6B>AA>DC9:8G:6H:>CE6NB:CIHDC86E>I6AA:6H:H6C97DGGDL>C<H;DG6HH:I;>C6C8>C<H6HI=:DBE6CN

8DCI>CJ:HG:9J8>C<I=:KDAJB:D;I=:H:;>C6C8>C<6GG6C<:B:CIH

W 6B>AA>DC9:8G:6H:>C86H=DJI;ADLH;GDB8DBB:G8>6AE6E:GE6NB:CIHC:ID;7DGGDL>C<H6C9

W 6B>AA>DC>C8G:6H:>C86H=>C;ADLH;GDBDI=:G;>C6C8>C<68I>K>I>:H

-*<16)6+16/

-=:;DAADL>C<I67A:HJBB6G>O:HDJGIDI6A9:7I

A=4

>CB>AA>DCH "/@16 "/@16

,=DGII:GB9:7I6C98JGG:CIB6IJG>I>:HD;ADC<I:GB9:7I    

%DC<I:GB9:7IC:ID;8JGG:CIB6IJG>I>:H   

-DI6A9:7I    

-=:B>AA>DC9:8G:6H:>CIDI6A9:7I9JG>C<;>H86AL6HEG>B6G>AN9J:IDI=:C:I9:8G:6H:H>C;>C6C8:A:6H:A>67>A>I>:H

6C97DGGDL>C<H;DG6HH:I;>C6C8>C<-=:B>AA>DC>C8G:6H:>CH=DGII:GB9:7I6C98JGG:CIB6IJG>I>:HD;ADC<I:GB9:7I

G:;A:8IHI=:;>H86AN:6GB6IJG>IND;I=:XB>AA>DCH:C>DGCDI:

0:L:G:>C8DBEA>6C8:L>I=6AA;>C6C8>6A8DK:C6CIH6HHD8>6I:9L>I=DJG7DGGDL>C<H6HD;&6G8=6C9&6G8=



HD;&6G8=DJG8G:9>IG6I>C<HL:G:6H;DAADLH

'/B7<553<1G !=<5)3@;'/B7<5A (6=@B)3@;'/B7<5A $CB:==9

>I8=   ':<6I>K:

&DD9NH 66 ) ':<6I>K:

,)   ,I67A:

DG>C;DGB6I>DCDCI=:G>H@HD;G6I>C<H9DLC<G69:HH::)6GI""I:B+>H@68IDGHHJ7H:8I>DCI>IA:96>AJG:ID

B6>CI6>CDJG8G:9>IG6I>C<6C967>A>INIDB6C6<:LDG@>C<86E>I6AG:;>C6C8:6C9G6>H:699>I>DC6A86E>I6A;DG;JIJG:C::9H

8DJA969K:GH:AN6;;:8IDJGA>FJ>9>IN86E>I6AEDH>I>DC7DGGDL>C<8DHI6C9688:HHID86E>I6AB6G@:IH

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19=1,1<A

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DJGCDGB6ADE:G6I>C<G:FJ>G:B:CIH;DGI=:C:MIBDCI=H6C97:NDC90::ME:8IID8DCI>CJ:JH>C<86H=<:C:G6I:97N

DE:G6I>DCH6H6EG>B6GNHDJG8:D;A>FJ>9>IN=DL:K:GH=DJA9L:G:FJ>G:;JC9H<G:6I:GI=6CI=6I<:C:G6I:9;GDBDJG

DE:G6I>DCHID;JC99>H8G:I>DC6GN>CK:HIB:CI68I>K>I>:HHJ8=6H7JH>C:HH68FJ>H>I>DCHL:=6K:I=:67>A>INIDG6>H:86E>I6A

I=GDJ<=9:7I;>C6C8>C<>C8AJ9>C<I=:>HHJ6C8:D;86E>I6AB6G@:I9:7I>CHIGJB:CIHHJ8=6H8DBB:G8>6AE6E:G6C97DC9H"C

699>I>DCL:8JGG:CIANJI>A>O:6C9L>AA;JGI=:GJI>A>O:688DJCIHG:8:>K67A:H6A:H;68>A>I>:H6C9DJG8GDHH8JGG:C8N86H=EDDA

;DGA>FJ>9>INC::9H-=:G:>HCD<J6G6CI::I=6IL:L>AA7:67A:IDD7I6>C9:7I;>C6C8>C<>;G:FJ>G:9DCI:GBH6C98DC9>I>DCH

688:EI67A:IDJH>;6I6AA>CI=:;JIJG:

(JG:MEDHJG:IDDE:G6I>DC6AA>FJ>9>ING>H@>HEG>B6G>AN;GDBADC<I:GB8DCIG68IHL=>8=G:FJ>G:H><C>;>86CI>CK:HIB:CID;86H=

9JG>C<I=:>C>I>6AE=6H:HD;I=:8DCIG68IH-=:G:8DK:GND;I=:H:>CK:HIB:CIH>HDK:GI=:A>;:D;I=:8DCIG68I6C9>H

9:E:C9:CIJEDCDJGE:G;DGB6C8:6HL:AA6H8JHIDB:G688:EI6C8:

(JGA>FJ>9>IND;7>AA>DC6HD;&6G8=>C8AJ9:H7>AA>DCD;86H=6C986H=:FJ>K6A:CIH6C97>AA>DCD;

6K6>A67A:7DGGDL>C<HJC9:GDJGG:KDAK>C<8G:9>I;68>A>IN(C'DK:B7:GI=:DBE6CN:MI:C9:9I=:I:GBD;DJG

G:KDAK>C<8G:9>I;68>A>INID'DK:B7:G

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6GG6C<:B:CIH6G:G:;A:8I:9>CI=:DBE6CNH76A6C8:H=::IH,::'DI:+:8:>K67A:H6C9'DI:DBB>IB:CIH

6C9DCI>C<:C8>:H;DG699>I>DC6A>C;DGB6I>DCG:<6G9>C<I=:H:D;;76A6C8:H=::I6GG6C<:B:CIH

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EA6CH

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2><?DC43CA0=B8C8>=C0G8=8B<8;;8>=.40A48=C74?A>24BB>50<4=38=6>DAC0GA4CDA=5>A78BC>A820;CA0=B02C8>=B0=3>C74A039DBC<4=CB

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6;;:8II=:G:EDGI:96BDJCIHD;6HH:IHA>67>A>I>:HG:K:CJ:H6C9:ME:CH:H6HL:AA6HI=:9>H8ADHJG:D;8DCI>C<:CI6HH:IH

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>H9>H8G:I:;>C6C8>6A>C;DGB6I>DC6K6>A67A:I=6I>HG:<JA6GANG:K>:L:97NB6C6<:B:CI99>I>DC6AANL:8DCH>9:GL=:I=:GDG

CDI>I>HG:6HDC67A:ID6<<G:<6I:8DBEDC:CIHI=6I=6K:H>B>A6G:8DCDB>88=6G68I:G>HI>8H-=:6HHJBEI>DCHJH:9ID

:HI>B6I:I=:;6>GK6AJ:D;6G:EDGI>C<JC>I8=6C<:;GDBN:6GIDN:6G76H:9DCDE:G6I>C<G:HJAIHB6G@:I8DC9>I>DCH6C9

DI=:G;68IDGH=6C<:H>CI=:H:6HHJBEI>DCHB6N7:>BE68I:97N6H><C>;>86CI8=6C<:>CI=:7JH>C:HH8A>B6I:

:HI67A>H=:97JH>C:HHEA6CHDE:G6I>C<E:G;DGB6C8:>C9>86IDGHDG8DBE:I>I>DCL=>8=8DJA9B6I:G>6AAN6;;:8II=::HI>B6I:HD;

;6>GK6AJ:;DG:68=G:EDGI>C<JC>I

0::HI>B6I:I=:;6>GK6AJ:D;DJGG:EDGI>C<JC>IHJH>C<68DB7>C6I>DCD;6C>C8DB:6EEGD68=JI>A>O>C<69>H8DJCI:986H=

;ADL6C6ANH>H6C96B6G@:I6EEGD68=JH>C<E:G;DGB6C8:B:IG>8B6G@:IBJAI>EA:H-=:9>H8DJCIG6I:JH:9>C6C>C8DB:

6EEGD68=>H76H:9DCDJGL:><=I:96K:G6<:8DHID;86E>I6A6C9B6N7:69?JHI:9;DGI=:G:A:K6CIG>H@H6HHD8>6I:9L>I=

7JH>C:HHHE:8>;>88=6G68I:G>HI>8H6C96CNJC8:GI6>CING:A6I:9ID6G:EDGI>C<JC>IH67>A>INID<:C:G6I:I=:EGD?:8I:9;JIJG:

86H=;ADLH

;;=58<176;)6,;<15)<-;%;-,<76)4AB-76<16/-6+1-;)6,1<1/)<176

0:6G:HJ7?:8IIDK6G>DJH8A6>BH6C98DCI>C<:C8>:H6HHD8>6I:9L>I=A6LHJ>IH>CHJG6C8:I6M6C9DI=:G>HHJ:H6G>H>C<>CI=:

CDGB6A8DJGH:D;7JH>C:HH-=:;>C6C8>6AHI6I:B:CIHG:;A:8II=:IG:6IB:CID;8A6>BH6C98DCI>C<:C8>:H76H:9DC

B6C6<:B:CIHK>:LD;I=::ME:8I:9DJI8DB:18DCHJAIHL>I=DJIH>9:A:<6A8DJCH:ADC>HHJ:HG:A6I:9IDA>I><6I>DC6C9

H::@H>CEJI;GDBDI=:G:ME:GIH6C969K>HDGHL>I=G:HE:8IIDB6II:GH>CI=:DG9>C6GN8DJGH:D;7JH>C:HH";I=:A>@:A>=DD9D;

6C69K:GH:DJI8DB:>HEGD767A:6C9I=:6BDJCI>H:HI>B67A:L:688GJ:6A>67>A>IN>C688DG96C8:L>I=,

DCI>C<:C8>:H,><C>;>86CI8=6C<:H>CI=::HI>B6I:HDG6HHJBEI>DCHJH:9>C6HH:HH>C<I=:A>@:A>=DD9D;6C69K:GH:

DJI8DB:8DJA9=6K:6B6I:G>6A:;;:8IDCDJGG:HJAIHD;DE:G6I>DCH



)"&*#)))+#&*!))+(!$(*'($*)"' )'( 

H6BJAI>C6I>DC6A8DBE6CNL:6G::MEDH:9ID8:GI6>CB6G@:IG>H@HHJ8=6H8=6C<:H>C;DG:><C8JGG:C8N:M8=6C<:G6I:H

6C9>CI:G:HIG6I:H=6C<:H>C;DG:><C8JGG:C8N:M8=6C<:G6I:H86C>BE68IDJG;DG:><C8JGG:C8N9:CDB>C6I:9BDC:I6GN

6HH:IH6C9A>67>A>I>:H6C9;DG:86HI:9IG6CH68I>DCH>C;DG:><C8JGG:C8NL=:G:6H8=6C<:H>C7:C8=B6G@>CI:G:HIG6I:H86C

>BE68I>CI:G:HI:ME:CH:6HHD8>6I:9L>I=DJG;AD6I>C<>CI:G:HIG6I:9:7I6C9I=:;6>GK6AJ:D;DJG;>M:9>CI:G:HIG6I:9:7I

K6G>:IND;EG68I>8:H6G::BEADN:9IDB6C6<:I=:H:G>H@H>C8AJ9>C<DE:G6I>C<6C9;>C6C8>C<68I>K>I>:H6C9I=:JH:D;

9:G>K6I>K:>CHIGJB:CIH0:9DCDIJH:9:G>K6I>K:H;DGIG69>C<DGHE:8JA6I>K:EJGEDH:H

)G:H:CI:97:ADL>H69:H8G>EI>DCD;DJGG>H@HID<:I=:GL>I=6H:CH>I>K>IN6C6ANH>HD;:68=D;I=:H:G>H@H76H:9DCH:A:8I:9

8=6C<:H>CB6G@:IG6I:H-=:;DG:><C8JGG:C8NBD9:A>C8DGEDG6I:HI=:>BE68ID;9>K:GH>;>86I>DC;GDB=DA9>C<BJAI>EA:

8JGG:C8>:H6C9I=:8DGG:A6I>DCD;G:K:CJ:H8DHIH6C96CNG:A6I:9H=DGII:GB8DCIG68I;>C6C8>C<>CI=:H6B:8JGG:C8N"C

DG9:GID9:I:GB>C:I=:>BE68ID;8=6C<:H>C>CI:G:HIG6I:HDCDJG;JIJG:G:HJAIHD;DE:G6I>DCH6C986H=;ADLHL:

86A8JA6I:9I=:>C8G:6H:DG9:8G:6H:>CI=:>C9:MJC9:GAN>C<I=:H:G6I:H0::HI>B6I:I=:;6>GK6AJ:D;DJGADC<I:GB9:7I

EG>B6G>ANJH>C<6C:ME:8I:9EG:H:CIK6AJ:I:8=C>FJ:JH>C<>CI:G:HIG6I:HD;;:G:9IDJH;DG>CHIGJB:CIHL>I=H>B>A6GI:GBH

6C9G:B6>C>C<B6IJG>I>:H-=:H:6C6ANH:HG:;A:8IB6C6<:B:CIHK>:LD;8=6C<:HI=6I6G:G:6HDC67ANEDHH>7A:IDD88JG

DK:G6DC:N:6GE:G>D9

=@375<C@@3<1G'7A9

0:6G::MEDH:9ID7DI=;6KDG67A:6C9JC;6KDG67A:BDK:B:CIH>C;DG:><C8JGG:C8N:M8=6C<:G6I:H"CI=:DG9>C6GN8DJGH:

D;7JH>C:HHL::CI:G>CID8DCIG68IH9:CDB>C6I:9>C;DG:><C8JGG:C8>:HMEDHJG:ID;AJ8IJ6I>DCH>C;DG:><C8JGG:C8N

:M8=6C<:G6I:H6G>H>C<;GDBI=:H:8DCIG68IH>H6C6ANO:99JG>C<I=:8DCIG68I7>99>C<EGD8:HH0:<:C:G6AANB6C6<:I=:H:

8DCIG68IH7N>C8JGG>C<8DHIH>CI=:H6B:8JGG:C8N>CL=>8=G:K:CJ:H6G:G:8:>K:96C96CNG:A6I:9H=DGII:GB8DCIG68I

;>C6C8>C<G:FJ>G:B:CIH6G:B:I7N7DGGDL>C<>CI=:H6B:8JGG:C8N-=JH7N<:C:G6AANB6I8=>C<G:K:CJ:H8DHIH6C9

7DGGDL>C<HIDI=:H6B:8JGG:C8NL:6G:67A:IDB>I><6I:6EDGI>DCD;I=:;DG:><C8JGG:C8NG>H@ID:6GC>C<H!DL:K:G9J:

IDDJG>C8G:6H:9JH:D;D;;H=DG:A67DG8:CI:GHL:=6K:7:8DB:BDG::MEDH:9ID;AJ8IJ6I>DCH>C;DG:><C8JGG:C8N

:M8=6C<:G6I:H0::ME:G>:C8:9H><C>;>86CI;DG:><C8JGG:C8N;AJ8IJ6I>DCH9JG>C<;>H86AN:6G9J:EG>B6G>ANIDI=:

KDA6I>A>IND;I=:JGDG>I>H=)DJC96C9JHIG6A>6CDAA6G>CG:A6I>DCIDI=:.,9DAA6G,><C>;>86CI;DG:><C8JGG:C8N

;AJ8IJ6I>DCH8DCI>CJ:9ID>BE68II=:.,9DAA6G9JG>C<;>H86A9J:EG>B6G>ANIDI=:KDA6I>A>IND;I=:G>I>H=)DJC96C9

DI=:G;DG:><C8JGG:C8>:H>CI=:B:G>86H

0:=6K:EDA>8>:H6C9EGD8:9JG:HIDB6C6<::MEDHJG:ID;AJ8IJ6I>DCH>C;DG:><C8JGG:C8N7NJH>C<H=DGII:GB;DG:><C

8JGG:C8N;DGL6G98DCIG68IHID:8DCDB>86AAN=:9<:8:GI6>C;DG:><C8JGG:C8N9:CDB>C6I:96HH:IH6C9A>67>A>I>:H>C8AJ9>C<

>CI:G8DBE6CN688DJCIH6C9AD6CHDG688DJCI>C<EJGEDH:HI=:H:;DG:><C8JGG:C8N;DGL6G98DCIG68IH6G:CDI9:H><C6I:9

6H=:9<:H6C98=6C<:H>CI=:>G;6>GK6AJ:6G:G:EDGI:9>C8JGG:CIE:G>D9:6GC>C<HL>I=>CDI=:G:ME:CH:>C8DB:C:I>CI=:

HI6I:B:CIHD;DE:G6I>DCH0:6AHDJH:;DG:><C8JGG:C8N;DGL6G98DCIG68IHIDG:9J8:;DG:><C8JGG:C8N:M8=6C<:G6I:G>H@

G:A6I:9ID8:GI6>C"C9>6CGJE::9:CDB>C6I:9>CI:G8DBE6CND7A><6I>DCH6C9;DG:86HI:9IG6CH68I>DCHDG688DJCI>C<

EJGEDH:HI=:H:;DG:><C8JGG:C8N;DGL6G98DCIG68IH6G:9:H><C6I:96H86H=;ADL=:9<:HL>I=8G>I>86AI:GBHI=6IB6I8=I=:

=:9<:9>I:BH-=:G:;DG:I=:8=6C<:H>C;6>GK6AJ:D;I=:H:;DGL6G98DCIG68IH6G:G:8DG9:9>C688JBJA6I:9DI=:G

8DBEG:=:CH>K:ADHHC:ID;I6M:H>CI=:HI6I:B:CIHD;8DBEG:=:CH>K:>C8DB:6C9HJ7H:FJ:CIAN8A6HH>;>:9>CIDC:I>C8DB:

>CI=:E:G>D9I=:=:9<:9IG6CH68I>DCH6G:G:8D<C>O:9>CC:I>C8DB:

0:=6K:;DG:><C8JGG:C8NG>H@HG:A6I:9IDDJGG:K:CJ:6C9DE:G6I>C<:ME:CH:H9:CDB>C6I:9>C8JGG:C8>:HDI=:GI=6C.,

9DAA6GH::'DI:+:K:CJ:JG>C<;>H86A6EEGDM>B6I:AND;DJGG:K:CJ:HL:G:<:C:G6I:9DJIH>9:D;I=:

.C>I:9,I6I:HDGI=:N:6G:C9:9&6G8=6=NEDI=:I>86A>C8G:6H:9:8G:6H:>CI=:K6AJ:D;I=:.,9DAA6G

6<6>CHI6AA8JGG:C8>:HLDJA9=6K:9:8G:6H:9>C8G:6H:9G:K:CJ:H7N6EEGDM>B6I:ANDG7>AA>DC-=:B6?DG>IND;

I=>H;AJ8IJ6I>DCLDJA97:D;;H:I7N:ME:CH:H>C8JGG:9>CAD86A8JGG:C8N-DI=::MI:CII=6IL:L:G:CDI67A:IDB6I8=AD86A

8JGG:C8NG:K:CJ:HL>I=AD86A8JGG:C8N:ME:CH:HI=:G:LDJA97:6C>BE68IIDDJGG:HJAIHD;DE:G6I>DCH6C986H=;ADLH

<B3@3AB'/B3'7A9

HD;&6G8=L:=69DJIHI6C9>C<9:7IL>I=K6GN>C<B6IJG>I>:H;DG6C6<<G:<6I:86GGN>C<6BDJCID;7>AA>DCD;

L=>8=CDC:L6H;AD6I>C<>CI:G:HIG6I:9:7IHD;&6G8=6C6HHJB:9JC;6KDG67A:8=6C<:>C>CI:G:HIG6I:H

LDJA9CDI7:B6I:G>6AIDDJG8DCHDA>96I:9G:HJAIHD;DE:G6I>DCHDG86H=;ADLH8=6C<:>C>CI:G:HIG6I:HG:A6I:9IDDJG

ADC<I:GB9:7ILDJA9CDI=6K:6B6I:G>6A>BE68IDCDJG76A6C8:H=::I6HL:9DCDIG:8DG9DJG9:7I6I;6>GK6AJ:



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<23FB==<A=:72/B327</<17/:(B/B3;3<BA

)6<:

+:EDGID;"C9:E:C9:CI+:<>HI:G:9)J7A>888DJCI>C<>GB)("'D 

DCHDA>96I:96A6C8:,=::IH6HD;&6G8=6C9&6G8= 

DCHDA>96I:9,I6I:B:CIHD;(E:G6I>DCH;DGI=:>H86A2:6GHC9:9&6G8=&6G8=6C9&6G8=

 

DCHDA>96I:9,I6I:B:CIHD;DBEG:=:CH>K:"C8DB:%DHH;DGI=:>H86A2:6GHC9:9&6G8=&6G8=

6C9&6G8= 

DCHDA>96I:9,I6I:B:CIHD;6H=ADLH;DGI=:>H86A2:6GHC9:9&6G8=&6G8=6C9&6G8=

 

DCHDA>96I:9,I6I:B:CIHD;=6C<:H>CFJ>IN;DGI=:>H86A2:6GHC9:9&6G8=&6G8=6C9

&6G8= 

'DI:HIDDCHDA>96I:9>C6C8>6A,I6I:B:CIH

'DI:R,JBB6GND;,><C>;>86CI88DJCI>C<)DA>8>:H 

'DI:R>K:HI>IJG:H 

'DI:R6GC>C<H%DHH):G,=6G: 

'DI:R+:8:>K67A:H 

'DI:R%:6H:H 

'DI:R:G>K6I>K:"CHIGJB:CIH 

'DI:R)GDE:GIN6C9FJ>EB:CI 

'DI:R"CI6C<>7A:HH:IH 

'DI:R DD9L>AA 

'DI:R:7I 

'DI:R+:K:CJ: 

'DI:R+:HIGJ8IJG>C<DHIH 

'DI:R):CH>DC6C9(I=:G:C:;>I)A6CH 

'DI:R"C8DB:-6M:H 

'DI:R,ID8@=DA9:GHFJ>IN 

'DI:R,ID8@"C8:CI>K:)A6CH 

'DI:R6H=ADLH 

'DI:R(I=:G"C8DB:ME:CH:':I 

'DI:R,:<B:CI6C9 :D<G6E=>8"C;DGB6I>DC 

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1-:8=CDAD<NDBE6CN

$>7<7=<=<B637</<17/:(B/B3;3<BA

0:=6K:6J9>I:9I=:688DBE6CN>C<8DCHDA>96I:976A6C8:H=::IHD;1-:8=CDAD<NDBE6CN6C9HJ7H>9>6G>:HI=:

DBE6CN6HD;&6G8=6C9I=:G:A6I:98DCHDA>96I:9HI6I:B:CIHD;DE:G6I>DCH8DBEG:=:CH>K:>C8DB:

ADHH86H=;ADLH6C98=6C<:H>C:FJ>IN;DG:68=D;I=:I=G::N:6GH>CI=:E:G>D9:C9:9&6G8=6C9I=:G:A6I:9

CDI:H8DAA:8I>K:ANG:;:GG:9ID6HI=:;>C6C8>6AHI6I:B:CIH"CDJGDE>C>DCI=:;>C6C8>6AHI6I:B:CIHEG:H:CI;6>GAN>C6AA

B6I:G>6AG:HE:8IHI=:;>C6C8>6AEDH>I>DCD;I=:DBE6CN6HD;&6G8=6C96C9I=:G:HJAIHD;>IHDE:G6I>DCH

6C9>IH86H=;ADLH;DG:68=D;I=:I=G::N:6GH>CI=:E:G>D9:C9:9&6G8=>C8DC;DGB>INL>I=688DJCI>C<EG>C8>EA:H

<:C:G6AAN688:EI:9>CI=:.C>I:9,I6I:HD;B:G>86

0:=6K:6AHD6J9>I:9>C688DG96C8:L>I=I=:HI6C96G9HD;I=:)J7A>8DBE6CN88DJCI>C<(K:GH><=ID6G9.C>I:9

,I6I:H)(I=:DBE6CNH>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<6HD;&6G8=76H:9DC8G>I:G>6

:HI67A>H=:9>C!=C4A=0;>=CA>;K!=C46A0C43A0<4F>A:>HHJ:97NI=:DBB>II::D;,EDCHDG>C<(G<6C>O6I>DCHD;

I=:-G:69L6NDBB>HH>DC6C9DJGG:EDGI96I:9&6N:MEG:HH:96CJCFJ6A>;>:9DE>C>DCDCI=:DBE6CNH

>CI:GC6A8DCIGDADK:G;>C6C8>6AG:EDGI>C<

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0:8DC9J8I:9DJG6J9>IH>C688DG96C8:L>I=I=:HI6C96G9HD;I=:)(-=DH:HI6C96G9HG:FJ>G:I=6IL:EA6C6C9

E:G;DGBI=:6J9>IIDD7I6>CG:6HDC67A:6HHJG6C8:67DJIL=:I=:GI=:;>C6C8>6AHI6I:B:CIH6G:;G::D;B6I:G>6A

B>HHI6I:B:CIL=:I=:G9J:ID:GGDGDG;G6J9(JG6J9>IH>C8AJ9:9E:G;DGB>C<EGD8:9JG:HID6HH:HHI=:G>H@HD;B6I:G>6A

B>HHI6I:B:CID;I=:;>C6C8>6AHI6I:B:CIHL=:I=:G9J:ID:GGDGDG;G6J96C9E:G;DGB>C<EGD8:9JG:HI=6IG:HEDC9IDI=DH:

G>H@H,J8=EGD8:9JG:H>C8AJ9:9:M6B>C>C<DC6I:HI76H>H:K>9:C8:G:<6G9>C<I=:6BDJCIH6C99>H8ADHJG:H>CI=:

;>C6C8>6AHI6I:B:CIH(JG6J9>IH6AHD>C8AJ9:9:K6AJ6I>C<I=:688DJCI>C<EG>C8>EA:HJH:96C9H><C>;>86CI:HI>B6I:HB69:7N

B6C6<:B:CI6HL:AA6H:K6AJ6I>C<I=:DK:G6AAEG:H:CI6I>DCD;I=:;>C6C8>6AHI6I:B:CIH0:7:A>:K:I=6IDJG6J9>IHEGDK>9:

6G:6HDC67A:76H>H;DGDJGDE>C>DC

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I=6IL6H8DBBJC>86I:9DGG:FJ>G:9ID7:8DBBJC>86I:9IDI=:6J9>I8DBB>II::6C9I=6IG:A6I:HID688DJCIHDG

9>H8ADHJG:HI=6I6G:B6I:G>6AIDI=:;>C6C8>6AHI6I:B:CIH6C9>CKDAK:9DJG:HE:8>6AAN8=6AA:C<>C<HJ7?:8I>K:DG8DBEA:M

?J9<B:CIH-=:8DBBJC>86I>DCD;8G>I>86A6J9>IB6II:GH9D:HCDI6AI:G>C6CNL6NDJGDE>C>DCDCI=:;>C6C8>6AHI6I:B:CIH

I6@:C6H6L=DA:6C9L:6G:CDI7N8DBBJC>86I>C<I=:8G>I>86A6J9>IB6II:G7:ADLEGDK>9>C<6H:E6G6I:DE>C>DCDCI=:

8G>I>86A6J9>IB6II:GDGDCI=:688DJCIHDG9>H8ADHJG:HIDL=>8=>IG:A6I:H

'3D3<C3'31=5<7B7=<I'343@B=#=B3A/<2B=B6347</<17/:AB/B3;3<BA

A8C820;D38C%0CC4A4B2A8?C8>=

:GI6>CD;I=:DBE6CNTH8DCIG68IHL>I=8JHIDB:GH>CKDAK:BJAI>EA:E:G;DGB6C8:D7A><6I>DCH6C9B6N8DCI6>C:B7:99:9

A:6H:HL=>8=6G:6HH:HH:9;DG8A6HH>;>86I>DC6C96G:INE>86AANG:8D<C>O:9:>I=:G6HH6A:HINE:A:6H:HDG6HDE:G6I>C<

A:6H:H0=:CI=:DBE6CN:CI:GH>CIDHJ8=6GG6C<:B:CIHI=:8DCIG68ITHIG6CH68I>DCEG>8:>H6AAD86I:9IDI=:8DCIG68I

E:G;DGB6C8:D7A><6I>DCH6C9I=:A:6H:8DBEDC:CI76H:9JEDCI=:G:A6I>K:HI6C96ADC:H:AA>C<EG>8:-=:H:8DC8AJH>DCH

8DJA9>BE68II=:I>B>C<D;G:K:CJ:G:8D<C>I>DC

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99>I>DC6AANI=:DBE6CNTH8DCIG68IHL>I=8JHIDB:GHB6N7:BD9>;>:9DK:GI=:8DJGH:D;I=:8DCIG68II:GBL=>8=B6N

8=6C<:I=:H8DE:EG>8:DG7DI=D;I=::M>HI>C<8DCIG68IDCIG68IBD9>;>86I>DCH6G:G:K>:L:9ID9:I:GB>C:L=:I=:GI=:N

H=DJA97:688DJCI:9;DG6HE6GID;I=:DG><>C6A8DCIG68II=:I:GB>C6I>DCD;6C:M>HI>C<8DCIG68I6C9I=:8G:6I>DCD;6C:L

8DCIG68IDG6H6H:E6G6I:8DCIG68I";I=:8DCIG68IBD9>;>86I>DC>HE6GID;I=::M>HI>C<8DCIG68I68JBJA6I>K:69?JHIB:CIID

G:K:CJ:>HG:8DG9:9";I=:8DCIG68IBD9>;>86I>DCG:EG:H:CIHI=:I:GB>C6I>DCD;I=::M>HI>C<8DCIG68I6C9I=:8G:6I>DCD;6

C:L8DCIG68II=:BD9>;>:9IG6CH68I>DCEG>8:>H6AAD86I:9IDI=:EGDHE:8I>K:E:G;DGB6C8:D7A><6I>DCH6C96CN:B7:99:9

A:6H:8DBEDC:CIH";68DCIG68IBD9>;>86I>DCBD9>;>:H6C:B7:99:9A:6H:8DBEDC:CI6C9I=:BD9>;>86I>DC>HCDI

688DJCI:9;DG6H6H:E6G6I:8DCIG68II=:8A6HH>;>86I>DCD;I=:A:6H:>HG:6HH:HH:9

>K:CI=:H:;68IDGHG:A6I:9ID8DBEA:MC:L8DCIG68IHL>I=8JHIDB:GH6C9BD9>;>86I>DCHD;HJ8=8DCIG68IH>CI=:8JGG:CI

;>H86AN:6GI=:G:A6I:96J9>I:;;DGI>C:K6AJ6I>C<8DBEA:MG:K:CJ:6GG6C<:B:CIHL6HH><C>;>86CI6C9G:FJ>G:96=><=9:<G::

D;6J9>IDG?J9<B:CI

>FC74A8C820;D38C%0CC4A.0B33A4BB438=C74D38C

(JG6J9>IEGD8:9JG:HG:A6I:9IDI=:DBE6CNTHG:K:CJ:G:8D<C>I>DC;DG8DBEA:MC:L6C9BD9>;>:9G:K:CJ:6GG6C<:B:CIH

>C8AJ9:9I=:;DAADL>C<

W 0:I:HI:9I=::;;:8I>K:C:HHD;>CI:GC6A8DCIGDAHG:A6I:9IDI=:G:K>:LD;G:K:CJ:G:8D<C>I>DC8DC8AJH>DCH;DGC:L

6C9BD9>;>:98DCIG68IH

W 0:6C6ANO:9I=:EDEJA6I>DCD;B6I:G>6AG:K:CJ:6GG6C<:B:CIH6C9E:G;DGB:9I=:;DAADL>C<EGD8:9JG:HDC6

H:A:8I>DCD;C:LDGBD9>;>:98DCIG68IH

R (7I6>C:96C9G:69I=:8JHIDB:G8DCIG68I6C9:K6AJ6I:9B6C6<:B:CITH>9:CI>;>86I>DCD;E:G;DGB6C8:

D7A><6I>DCH

R K6AJ6I:9B6C6<:B:CITH9:I:GB>C6I>DCD;HI6C96ADC:H:AA>C<EG>8:;DGI=:>9:CI>;>:9E:G;DGB6C8:

D7A><6I>DCH

R +:86A8JA6I:9I=:IG6CH68I>DCEG>8:6C9I:HI:9I=:6AAD86I>DCD;IG6CH68I>DCEG>8:ID:68=E:G;DGB6C8:

D7A><6I>DC

R K6AJ6I:9I=:E6II:GCD;9:A>K:GN6C9G:K:CJ:G:8D<C>I>DCI>B>C<;DG:68=E:G;DGB6C8:D7A><6I>DC

H:AD>II:-DJ8=:%%)

&8%:6C/>G<>C>6

&6N

0:=6K:H:GK:96HI=:DBE6CNH6J9>IDGH>C8:6IA:6HI=DL:K:G6C:6GA>:GN:6G8DJA9CDI7:G:A>67AN9:I:GB>C:9

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JGG:CI6HH:IH

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)G:E6>9:ME:CH:H   

(I=:G8JGG:CI6HH:IH   

-DI6A8JGG:CI6HH:IH   

"CI6C<>7A:6HH:IHC:ID;688JBJA6I:96BDGI>O6I>DCD;6C9   

(E:G6I>C<A:6H:6HH:IHC:I   

DD9L>AA   

:;:GG:9>C8DB:I6M:HC:I   

)GDE:GIN6C9:FJ>EB:CIC:ID;688JBJA6I:99:EG:8>6I>DCD;6C9   

(I=:G6HH:IH   

HH:IH=:A9;DGH6A:CDC8JGG:CI S  

-DI6AHH:IH    

%""%"-",6C9*."-2

JGG:CIA>67>A>I>:H

,=DGII:GB9:7I6C98JGG:CIB6IJG>I>:HD;ADC<I:GB9:7I    

88DJCIHE6N67A:   

88GJ:9E6NGDAA6C9G:A6I:98DHIH   

(E:G6I>C<A:6H:A>67>A>I>:H   

88GJ:9:ME:CH:H6C9DI=:G8JGG:CIA>67>A>I>:H   

:;:GG:9G:K:CJ:6C969K6C8:8DCIG68IE6NB:CIH   

"C8DB:I6M:HE6N67A:   

-DI6A8JGG:CIA>67>A>I>:H   

%DC<I:GB9:7IC:ID;8JGG:CIB6IJG>I>:H   

'DC8JGG:CI9:;:GG:9G:K:CJ:   

'DC8JGG:CI>C8DB:I6MA>67>A>I>:H6C99:;:GG:9>C8DB:I6M:H   

'DC8JGG:CIDE:G6I>C<A:6H:A>67>A>I>:H   

'DC8JGG:CIE:CH>DCD7A><6I>DCH   

(I=:GADC<I:GBA>67>A>I>:H   

-DI6A%>67>A>I>:H   

DBB>IB:CIH6C98DCI>C<:C8>:H

1HID8@=DA9:GHT:FJ>IN

)G:;:GG:9HID8@E6GK6AJ:E:GH=6G:6JI=DG>O:9H=6G:HCDC:>HHJ:96H

D;&6G8=6C9&6G8= S  S

DBBDCHID8@E6GK6AJ:E:GH=6G:6JI=DG>O:9H=6G:H>HHJ:9

6HD;&6G8=6C96HD;&6G8=   

99>I>DC6AE6>9>C86E>I6A   

88JBJA6I:99:;>8>I   

88JBJA6I:9DI=:G8DBEG:=:CH>K:ADHH   

-G:6HJGNHID8@6I8DHI6C9H=6G:H6HD;&6G8=6C9

&6G8=   

-DI6A1HID8@=DA9:GHT:FJ>IN   

'DC8DCIGDAA>C<>CI:G:HI>CHJ7H>9>6G>:H   

-DI6AFJ>IN   

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-=:688DBE6CN>C<CDI:H6G:6C>CI:<G6AE6GID;I=:H:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH

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"/@16

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+:K:CJ:H      

DHIHD;H:GK>8:H:M8AJ9:H9:EG:8>6I>DC6C96BDGI>O6I>DC6C9G:HIGJ8IJG>C<8DHIH      

,:AA>C<<:C:G6A6C969B>C>HIG6I>K::M8AJ9:H9:EG:8>6I>DC6C96BDGI>O6I>DC6C9

G:HIGJ8IJG>C<8DHIH      

:EG:8>6I>DC6C96BDGI>O6I>DC      

+:HIGJ8IJG>C<8DHIH      

"CI:G:HI:ME:CH:      

"CI:G:HI>C8DB:      

6>CDC9>HEDH>I>DCD;7JH>C:HH:H     

(I=:G>C8DB::ME:CH:C:I      

-DI6A8DHIH6C9:ME:CH:H      

"C8DB:ADHH7:;DG:>C8DB:I6M:H      

"C8DB:I6M:ME:CH:7:C:;>I      

':I>C8DB:ADHH      

%:HHC:I>C8DB:ADHH6IIG>7JI67A:IDCDC8DCIGDAA>C<>CI:G:HIC:ID;I6M     

':I>C8DB:ADHH6IIG>7JI67A:ID18DBBDCHID8@=DA9:GH      

"C8DB:ADHHE:G8DBBDCH=6G:

6H>8      

>AJI:9      

-=:688DBE6CN>C<CDI:H6G:6C>CI:<G6AE6GID;I=:H:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH



-)#$!$.$"%#.

$#($!)())"#)($$"%'#(+#$"!$((

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16 "/@16

':I>C8DB:ADHH      

(I=:G8DBEG:=:CH>K:ADHH>C8DB:C:ID;I6M:H

DG:><C8JGG:C8NIG6CHA6I>DC69?JHIB:CIHC:ID;I6M     

6H=;ADL=:9<:H69?JHIB:CIHC:ID;I6M     

):CH>DC6C9DI=:GEDHIG:I>G:B:CI7:C:;>IEA6CHC:ID;I6M

)G>DGH:GK>8:8DHIC:ID;I6M     

BDGI>O6I>DCD;EG>DGH:GK>8:8DHIC:ID;I6M     

):CH>DC6C9DI=:GEDHIG:I>G:B:CI7:C:;>IEA6CHC:ID;I6M     

(I=:G8DBEG:=:CH>K:ADHH>C8DB:C:ID;I6M:H     

DBEG:=:CH>K:>C8DB:ADHH     

%:HH8DBEG:=:CH>K:>C8DB:ADHH6IIG>7JI67A:IDCDC8DCIGDAA>C<>CI:G:HI      S

DBEG:=:CH>K:>C8DB:ADHH6IIG>7JI67A:ID18DBBDCHID8@=DA9:GH      



+0G14=458C4G?4=B4A4;0C43C>5>A486=2DAA4=2HCA0=B;0C8>=039DBC<4=CBF0B 0=35>AC7458B20;H40AB4=343%0A27

%0A270=3%0A27A4B?42C8E4;H

+0G14=458C4G?4=B4A4;0C43C>20B75;>F74364039DBC<4=CBF0B0=35>AC7458B20;H40AB4=343%0A27%0A27

0=3%0A27A4B?42C8E4;H

+0G14=458CA4;0C43C>?A8>AB4AE8242>BCBF0B0=35>AC7458B20;H40AB4=343%0A27%0A270=3%0A27

A4B?42C8E4;H

+0G14=458CA4;0C43C>0<>AC8I0C8>=>5?A8>AB4AE8242>BCBF0B0=35>AC7458B20;H40AB4=343%0A27%0A270=3

%0A27A4B?42C8E4;H

-=:688DBE6CN>C<CDI:H6G:6C>CI:<G6AE6GID;I=:H:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH

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$#($!)())"#)($(!$,(

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16 "/@16

6H=;ADLH;GDBDE:G6I>C<68I>K>I>:H

':I>C8DB:ADHH      

28CAB;3<BAB=@31=<17:3<3B7<1=;3:=AAB=<3B1/A6>@=D7232

0G=>3@/B7<5/1B7D7B73A

:EG:8>6I>DC6C96BDGI>O6I>DC     

(E:G6I>C<G><=ID;JH::ME:CH:     

):CH>DCDI=:GEDHI:BEADNB:CI7:C:;>IH68IJ6G>6AH:IIA:B:CI

<6>CHADHH:H     

,=6G:76H:98DBE:CH6I>DC     

:;:GG:9I6M:H     

%DHH<6>CDC9>HEDH>I>DCH     

)GDK>H>DC;DGADHH:HDC688DJCIHG:8:>K67A:   S  

.CG:6A>O:9;DG:><C8JGG:C8N:M8=6C<:ADHH:H<6>CH     

"BE6>GB:CIADHH:H6C98DCIG68ILG>I:D;;H     

BDGI>O6I>DCD;9:7I>HHJ6C8:8DHIH6C99>H8DJCI     

6H=HJGG:C9:GK6AJ:>C:M8:HHD;EG:B>JBHE6>9     

(I=:GCDC86H=8=6G<:HC:I     

=6C<:H>C6HH:IH6C9A>67>A>I>:HC:ID;:;;:8IHD;68FJ>H>I>DCH6C9

9>HEDH>I>DCH

:8G:6H:>CG:8:>K67A:H     

"C8G:6H::8G:6H:>CEG:E6>9:ME:CH:H6C9DI=:G8JGG:CI6HH:IH      

:8G:6H:>C688DJCIHE6N67A:6C9688GJ6AH     

:8G:6H:"C8G:6H:>C>C8DB:I6M:HE6N67A:6C9>C8DB:I6M

A>67>A>IN     

:8G:6H:>CDE:G6I>C<A:6H:A>67>A>IN     

:8G:6H:"C8G:6H:>C69K6C8:8DCIG68IE6NB:CIH6C99:;:GG:9

G:K:CJ:     

(I=:GDE:G6I>C<68I>K>I>:HC:I S    

#3B1/A6>@=D72320G=>3@/B7<5/1B7D7B73A     

6H=;ADLH;GDB>CK:HI>C<68I>K>I>:H

)JG8=6H:HD;EGDE:GIN6C9:FJ>EB:CI     

)6NB:CIH;DGIG6CH>I>DC6C9IG6CH;DGB6I>DC8DCIG68I8DHIH     

,D;IL6G:EJG8=6H:96C99:K:ADE:9     

JH>C:HH9>HEDH>I>DCH     

)GD8::9H;GDBH6A:D;6HH:IH     

(I=:G>CK:HI>C<68I>K>I>:HC:I     

#3B1/A6CA327<7<D3AB7<5/1B7D7B73A     

/A64:=EA4@=;47</<17<5/1B7D7B73A

DGGDL>C<HD;8DBB:G8>6AE6E:G     

+:E6NB:CIHD;8DBB:G8>6AE6E:G     

)G>C8>E6AE6NB:CIHDCADC<I:GB9:7I S  S  

)6NB:CIHDC;>C6C8:A:6H:H6C97DGGDL>C<H;DG6HH:I;>C6C8>C<      

)GD8::9H;GDBHID8@DEI>DCH6C9DI=:G8DBBDCHID8@IG6CH68I>DCH  S  S  

-6M:HE6>9G:A6I:9IDC:IH=6G:H:IIA:B:CIHD;H=6G:76H:9

8DBE:CH6I>DC6L6G9H     

+:EJG8=6H:D;8DBBDCHID8@     

(I=:G;>C6C8>C<68I>K>I>:HC:I     

#3B1/A6CA327<47</<17<5/1B7D7B73A     

;;:8ID;:M8=6C<:G6I:8=6C<:HDC86H=6C986H=:FJ>K6A:CIH     



':I>C8G:6H:9:8G:6H:>C86H=6C986H=:FJ>K6A:CIH>C8AJ9>C<86H=

8A6HH>;>:9L>I=>C8JGG:CI6HH:IH=:A9;DGH6A:     

6H=8A6HH>;>:9L>I=>C8JGG:CI6HH:IH=:A9;DGH6A: S  S  

':I>C8G:6H:9:8G:6H:>C86H=6C986H=:FJ>K6A:CIH     

/A6/<21/A63?C7D/:3<BA/B0357<<7<5=4G3/@     

/A6/<21/A63?C7D/:3<BA/B3<2=4G3/@      

-=:688DBE6CN>C<CDI:H6G:6C>CI:<G6AE6GID;I=:H:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH



-)#$!$.$"%#.

$#($!)())"#)($#(#&*).

>CB>AA>DCH:M8:EIH=6G:H>CI=DJH6C9H

=;;=<(B=19 227B7=</:

%/727<

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11C;C:/B32

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$B63@

=;>@363<A7D3

!=AA

)@3/AC@G

(B=19

)=B/:

-?C7BG

#=<

=<B@=::7<5

<B3@3AB

)=B/:

?C7BG(6/@3A ;=C<B

6A6C8:6I&6G8=                  

':IADHH        

(I=:G8DBEG:=:CH>K:ADHH       

,=6G:76H:98DBE:CH6I>DC:ME:CH:      

8FJ>H>I>DCD;IG:6HJGNHID8@      

,=6G:G:EJG8=6H:EGD<G6B            

,ID8@DEI>DC:M:G8>H:H6C9DI=:G8DBBDCHID8@IG6CH68I>DCH        

'DC8DCIGDAA>C<>CI:G:HI9>HIG>7JI>DCH6C9DI=:G      S  S

6A6C8:6I&6G8=                  

 CA40BDAHB70A4B0B>5%0A27

>CB>AA>DCH:M8:EIH=6G:H>CI=DJH6C9H

=;;=<(B=19 227B7=</:

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11C;C:/B32

34717B

11C;C:/B32

$B63@

=;>@363<A7D3

!=AA

)@3/AC@G

(B=19

)=B/:

-?C7BG

#=<

=<B@=::7<5

<B3@3AB

)=B/:

?C7BG(6/@3A ;=C<B

':I>C8DB:       

(I=:G8DBEG:=:CH>K:ADHH       

,=6G:76H:98DBE:CH6I>DC:ME:CH:      

8FJ>H>I>DCD;IG:6HJGNHID8@      

,=6G:G:EJG8=6H:EGD<G6B          

,ID8@DEI>DC:M:G8>H:H6C9DI=:G8DBBDCHID8@IG6CH68I>DCH   S S

'DC8DCIGDAA>C<>CI:G:HI9>HIG>7JI>DCH6C9DI=:G          

6A6C8:6I&6G8=                  

 CA40BDAHB70A4B0B>5%0A27

>CB>AA>DCH:M8:EIH=6G:H>CI=DJH6C9H

=;;=<(B=19 227B7=</:

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$B63@

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!=AA

)@3/AC@G

(B=19

)=B/:

-?C7BG

#=<

=<B@=::7<5

<B3@3AB

)=B/:

?C7BG(6/@3A ;=C<B

':I>C8DB:        

(I=:G8DBEG:=:CH>K:>C8DB:     

,=6G:76H:98DBE:CH6I>DC:ME:CH:      

8FJ>H>I>DCD;IG:6HJGNHID8@      

,ID8@DEI>DC:M:G8>H:H6C9DI=:G8DBBDCHID8@IG6CH68I>DCH   S S

'DC8DCIGDAA>C<>CI:G:HI9>HIG>7JI>DCH6C9DI=:G       

6A6C8:6I&6G8=                  

 CA40BDAHB70A4B0B>5%0A27

'=D6DBCC74,*6>E4A=<4=C4=02C43C74!=5;0C8>=)43D2C8>=2CC74!)8=C>;0F+74!)8<?>B4B04G28B4C0G>=B70A4A4?DA270B4B2><?;4C4305C4A424<14A

.4A45;42CC744G28B4C0GF8C78=4@D8CH0B?0AC>5C74A4?DA270B4>5C742><<>=BC>2:

-=:688DBE6CN>C<CDI:H6G:6C>CI:<G6AE6GID;I=:H:8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH



#=B3(C;;/@G=4(75<7471/<B11=C<B7<5%=:7173A

=;16-;;

1-:8=CDAD<NDBE6CN1I=:DBE6CNL:JHDGDJG>H6A:69>C<<AD76AEGDK>9:GD;"-H:GK>8:H0:6G:

6IGJHI:9E6GIC:GIDB6CND;I=:LDGA9THBDHI>CCDK6I>K:DG<6C>O6I>DCH7J>A9>C<HDAJI>DCHI=6IBDK:>C9JHIG>:H6C9

8DBE6C>:H;DGL6G9(JG:C<>C::G>C<8DCHJAI>C<6C9I:8=CDAD<N:ME:GIH=:AE8A>:CIHH>BEA>;NDEI>B>O:6C9BD9:GC>O:

I=:>GHNHI:BH6C9EGD8:HH:HB6C6<:I=:>GBDHI8G>I>86ALDG@AD69H>CI:<G6I:"EDL:G:9>CI:AA><:C8:>CIDI=:>GDE:G6I>DCH

6C9EJIH:8JG>IN6C9IGJHI6II=:;DG:;GDCI-=GDJ<=>CCDK6I>K:HDAJI>DCHL:=:AE8A>:CIHID68=>:K:8DBE:I>I>K:69K6CI6<:H

>CI=:B6G@:IEA68:

0:H:GK:6<AD76A8A>:CI76H:>C8AJ9>C<B6CNDGIJC:8DBE6C>:HI=GDJ<=DJGBDG:I=6CE:DEA:>CDK:G

8DJCIG>:H0:DE:G6I:I=GDJ<=ILDH:<B:CIH AD76AJH>C:HH,:GK>8:H ,6C9 AD76A"C;G6HIGJ8IJG:,:GK>8:H

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U;>C6C8>6AHI6I:B:CIHV>>I=:DCHDA>96I:9,I6I:B:CIHD;(E:G6I>DCH6HI=:UHI6I:B:CIHD;DE:G6I>DCHV>>>I=:

DCHDA>96I:9,I6I:B:CIHD;DBEG:=:CH>K:"C8DB:%DHH6HI=:HI6I:B:CIHD;8DBEG:=:CH>K:>C8DB:ADHH>KI=:

DCHDA>96I:96A6C8:,=::IH6HI=:U76A6C8:H=::IHV6C9KI=:DCHDA>96I:9,I6I:B:CIHD;6H=ADLH6HI=:

UHI6I:B:CIHD;86H=;ADLHV"C699>I>DCG:;:G:C8:H6G:B69:I=GDJ<=DJIIDI=:CJB7:G:9'DI:HIDI=:DCHDA>96I:9

>C6C8>6A,I6I:B:CIHU'DI:HV>CI=>HCCJ6A+:EDGIDCDGB$

-=:688DBE6CN>C<;>C6C8>6AHI6I:B:CIH=6K:7::CEG:E6G:9>C688DG96C8:L>I=I=:GJA:H6C9G:<JA6I>DCHD;I=:.,

,:8JG>I>:H6C9M8=6C<:DBB>HH>DC;DG6CCJ6AG:EDGIH6C9688DJCI>C<EG>C8>EA:H<:C:G6AAN688:EI:9>CI=:.C>I:9

,I6I:H )-=:;>C6C8>6AHI6I:B:CIH>C8AJ9:I=:688DJCIHD;1>IH8DCHDA>96I:9HJ7H>9>6G>:H6C9I=DH:7JH>C:HH

:CI>I>:H>CL=>8=1B6>CI6>CH68DCIGDAA>C<>CI:G:HI"CK:HIB:CIH>C7JH>C:HH:CI>I>:H>CL=>8=I=:DBE6CN9D:HCDI

=6K:8DCIGDA7JI=6HI=:67>A>INID:M:G8>H:H><C>;>86CI>C;AJ:C8:DK:GDE:G6I>C<6C9;>C6C8>6AEDA>8>:H6G:688DJCI:9;DG7N

I=::FJ>INB:I=D9(I=:G>CK:HIB:CIH6G:688DJCI:9;DG7NI=:8DHIB:I=D9'DC8DCIGDAA>C<>CI:G:HIH6G:EG:H:CI:96H6

H:E6G6I:8DBEDC:CIL>I=>C:FJ>IN>CI=:76A6C8:H=::IH':I:6GC>C<H6IIG>7JI67A:IDI=:CDC8DCIGDAA>C<>CI:G:HIH6G:

EG:H:CI:9H:E6G6I:AN>CI=:HI6I:B:CIHD;DE:G6I>DCH6C98DBEG:=:CH>K:>C8DB:ADHH6IIG>7JI67A:IDCDC8DCIGDAA>C<

>CI:G:HIH6G:EG:H:CI:9H:E6G6I:AN>CI=:HI6I:B:CIHD;8DBEG:=:CH>K:>C8DB:ADHHAA>CI:G8DBE6CNIG6CH68I>DCH6C9

76A6C8:H=6K:7::C:A>B>C6I:9

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:HI>B6I:H6C9?J9<B:CIHI=6I6;;:8II=:G:EDGI:96BDJCIHD;6HH:IHA>67>A>I>:HG:K:CJ:H6C9:ME:CH:H6HL:AA6HI=:

9>H8ADHJG:D;8DCI>C<:CI6HH:IH6C9A>67>A>I>:H-=:DBE6CN76H:H>IH:HI>B6I:HDC6HHJBEI>DCHG:<6G9>C<=>HIDG>86A

:ME:G>:C8:8JGG:CIAN6K6>A67A:>C;DGB6I>DC6C96CI>8>E6I:99:K:ADEB:CIHI=6I>I7:A>:K:H6G:G:6HDC67A:6C96EEGDEG>6I:

!DL:K:G7:86JH:I=:JH:D;:HI>B6I:H>CKDAK:H6C>C=:G:CI9:<G::D;JC8:GI6>CIN68IJ6AG:HJAIH8DJA99>;;:G;GDBI=DH:

:HI>B6I:HHI>B6I:H6G:JH:9;DG7JICDIA>B>I:9ID8DCIG68IH688DJCI:9;DGJH>C<I=:E:G8:CI6<:D;8DBEA:I>DCB:I=D9

86H=;ADLHJH:9>CI=::K6AJ6I>DCD;>BE6>GB:CID;<DD9L>AA6C9DI=:GADC<A>K:96HH:IHG:H:GK:H;DGJC8:GI6>CI6M

EDH>I>DCHK6AJ6I>DC6AADL6C8:HDC9:;:GG:9I6M6HH:IHADHH688GJ6AH;DGA>I><6I>DC6C9D7A><6I>DCHG:A6I:9IDDJGE:CH>DC

EA6CH"CI=:DE>C>DCD;I=:DBE6CNHB6C6<:B:CII=:688DBE6CN>C<;>C6C8>6AHI6I:B:CIH8DCI6>C6AA69?JHIB:CIH

C:8:HH6GN>C8AJ9>C<I=DH:D;6CDGB6AG:8JGG>C<C6IJG:ID;6>GANEG:H:CII=:;>C6C8>6AHI6I:B:CIH

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8DCK:NHI=:G><=IIDJH:6C>9:CI>;>:96HH:I6C9L=:I=:G1D7I6>CHHJ7HI6CI>6AAN6AA:8DCDB>87:C:;>IH;GDB6C9=6HI=:

67>A>INID9>G:8II=:JH:D;I=:6HH:I(E:G6I>C<A:6H:H6G:G:EDGI:96HDE:G6I>C<G><=ID;JH:+(.6HH:IHC:IL>I=I=:

6HHD8>6I:9A>67>A>I>:H>C8AJ9:9>C8JGG:CIDE:G6I>C<A:6H:A>67>A>I>:H6C9CDC8JGG:CIDE:G6I>C<A:6H:A>67>A>I>:H>C1H

76A6C8:H=::IH>C6C8:A:6H:H6G:>C8AJ9:9>CEGDE:GIN6C9:FJ>EB:CIC:I6C9I=:6HHD8>6I:9A>67>A>I>:H6G:>C8AJ9:9>C

H=DGII:GB9:7I6C98JGG:CIB6IJG>I>:HD;ADC<I:GB9:7I6C9ADC<I:GB9:7IC:ID;8JGG:CIB6IJG>I>:H>C1H76A6C8:

H=::IH

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D7A><6I>DCIDB6@:A:6H:E6NB:CIH6G>H>C<;GDBI=:A:6H:%:6H:A>67>A>I>:H6G:G:8D<C>O:96I8DBB:C8:B:CI76H:9DCI=:

EG:H:CIK6AJ:D;;>M:9DG>CHJ7HI6C8:;>M:9A:6H:E6NB:CIHDK:GI=:A:6H:I:GB%:6H:96HH:IH6G:G:8D<C>O:96I

8DBB:C8:B:CI76H:9DCI=:A:6H:9A>67>A>INEAJH6CNA:6H:E6NB:CIHB69:6IDG7:;DG:A:6H:8DBB:C8:B:CI6C9

:M8AJ9>C<6CNA:6H:>C8:CI>K:H

HBDHID;I=:DBE6CNHA:6H:H9DCDIEGDK>9:6C>BEA>8>IG6I:1JH:H>IH>C8G:B:CI6A7DGGDL>C<G6I:76H:9DCI=:

>C;DGB6I>DC6K6>A67A:6I8DBB:C8:B:CIID9:I:GB>C:I=:EG:H:CIK6AJ:D;A:6H:E6NB:CIH-=:>C8G:B:CI6A7DGGDL>C<

G6I:>HI=:G6I:D;>CI:G:HII=6I1LDJA9=6K:IDE6NID7DGGDLDC68DAA6I:G6A>O:976H>H6C6BDJCI:FJ6AIDI=:A:6H:

E6NB:CIH>C6H>B>A6G:8DCDB>8:CK>GDCB:CI6C9DK:G6H>B>A6GI:GB-=:G6I:>H9:E:C9:CIDCH:K:G6A;68IDGH>C8AJ9>C<

I=:A:6H:I:GB8JGG:C8ND;I=:A:6H:E6NB:CIH6C9I=:DBE6CNH8G:9>IG6I>C<H

-=:DBE6CNHA:6H:I:GBHB6N>C8AJ9:DEI>DCHID:MI:C9DGI:GB>C6I:I=:A:6H:%:6H:96HH:IH6C9A:6H:A>67>A>I>:H

>C8AJ9:I=:H:DEI>DCHL=:C>I>HG:6HDC67AN8:GI6>CI=6II=:NL>AA7::M:G8>H:9-=:DBE6CNHA:6H:6GG6C<:B:CIH

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(E:G6I>C<A:6H::ME:CH:L=>8=>C8AJ9:H>CI:G:HI>HG:8D<C>O:9DC6HIG6><=IA>C:76H>HDK:GI=:A:6H:I:GBL>I=K6G>67A:

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8DB7>C6I>DCI=:G:D;+:K:CJ:H6G:G:8D<C>O:9L=:C8DCIGDAD;I=:EGDB>H:9<DD9HDGH:GK>8:H>HIG6CH;:GG:9ID1H

8JHIDB:GH>C6C6BDJCII=6IG:;A:8IHI=:8DCH>9:G6I>DCI=:DBE6CN:ME:8IHID7::CI>IA:9ID>C:M8=6C<:;DGI=DH:

<DD9HDGH:GK>8:H

19:I:GB>C:HG:K:CJ:G:8D<C>I>DCI=GDJ<=I=:;>K:HI:EBD9:A6H;DAADLH

W "9:CI>;>86I>DCD;I=:8DCIG68IDG8DCIG68IHL>I=68JHIDB:G

W "9:CI>;>86I>DCD;I=:E:G;DGB6C8:D7A><6I>DCH>CI=:8DCIG68I

W :I:GB>C6I>DCD;I=:IG6CH68I>DCEG>8:

W AAD86I>DCD;I=:IG6CH68I>DCEG>8:IDI=:>9:CI>;>:9E:G;DGB6C8:D7A><6I>DCH

W +:8D<C>I>DCD;G:K:CJ:L=:CDG6HI=:DBE6CNH6I>H;>:H6E:G;DGB6C8:D7A><6I>DC

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

1H"-DJIHDJG8>C<"-(6GG6C<:B:CIHINE>86AANG:;A:8I6H>C<A:E:G;DGB6C8:D7A><6I>DCI=6I8DBEG>H:H6H:G>:HD;

9>HI>C8IH:GK>8:HL=>8=6G:HJ7HI6CI>6AANI=:H6B:6C9EGDK>9:9DK:G6E:G>D9D;I>B:JH>C<I=:H6B:B:6HJG:D;EGD<G:HH

+:K:CJ:9:G>K:9;GDBI=:H:6GG6C<:B:CIH>HG:8D<C>O:9DK:GI>B:76H:9JEDCI=:A:K:AD;H:GK>8:H9:A>K:G:9>CI=:

9>HI>C8IE:G>D9H>CL=>8=I=:N6G:EGDK>9:976H:9DCI>B:>C8G:B:CIH0=:CDI=:GE6GI>:H6G:>CKDAK:9>CEGDK>9>C<<DD9H

DGH:GK>8:H6HE6GID;DJG8JHIDB:G6GG6C<:B:CIH1G:8D<C>O:HG:K:CJ:DC6<GDHH76H>H6H6EG>C8>E6AL=:C>I

8DCIGDAH<DD9HDGH:GK>8:H7:;DG:I=:N6G:IG6CH;:GG:9IDI=:8JHIDB:G"C699>I>DCI=:DBE6CNG:EDGIHG:K:CJ:C:ID;

6CNG:K:CJ:76H:9I6M:H6HH:HH:97N6<DK:GCB:CI6A6JI=DG>INI=6I6G:>BEDH:9DC6C98DC8JGG:CIL>I=HE:8>;>8

G:K:CJ:EGD9J8>C<IG6CH68I>DCHHJ8=6HH6A:HI6M:H6C9K6AJ:699:9I6M:H

1H8DCIG68IHD;I:C>C8AJ9:JE;GDCI;::H7>AA:9;DG68I>K>I>:HID;6B>A>6G>O:1L>I=I=:8JHIDB:GHDE:G6I>DCHI6@:

8DCIGDADK:GI=:>G69B>C>HIG6I>DC6C9DE:G6I>DC6C9696EII=:BID1HHDAJI>DCH-=:H:68I>K>I>:HINE>86AAN9DCDIFJ6A>;N

6HE:G;DGB6C8:D7A><6I>DCH6C9I=:G:A6I:9G:K:CJ:H6G:6AAD86I:9IDI=:G:A:K6CIE:G;DGB6C8:D7A><6I>DCH6C9

G:8D<C>O:9G6I67ANDK:GI>B:6HI=:E:G;DGB6C8:D7A><6I>DC>HH6I>H;>:99JG>C<I=:E:G>D9>CL=>8=1EGDK>9:HI=:

G:A6I:9H:GK>8:L=>8=>HINE>86AANI=:A>;:D;I=:8DCIG68I,D;IL6G:IG6CH68I>DCHI=6I>C8AJ9:BJAI>EA:E:G;DGB6C8:

D7A><6I>DCH6G:9:H8G>7:97:ADL

DG8DCIG68IHL>I=BJAI>EA:E:G;DGB6C8:D7A><6I>DCH16AAD86I:HI=:8DCIG68ITHIG6CH68I>DCEG>8:ID:68=E:G;DGB6C8:

D7A><6I>DC76H:9DCI=:G:A6I>K:HI6C96ADC:H:AA>C<EG>8:D;:68=9>HI>C8I<DD9DGH:GK>8:>CI=:8DCIG68I(I=:GI=6C

HD;IL6G:H6A:H>CKDAK>C<BJAI>EA:E:G;DGB6C8:D7A><6I>DCHI=:EG>B6GNB:I=D9JH:9ID:HI>B6I:HI6C96ADC:H:AA>C<EG>8:>H

I=::ME:8I:98DHIEAJH6B6G<>C6EEGD68=JC9:GL=>8=I=:DBE6CN;DG:86HIH>IH:ME:8I:98DHIHD;H6I>H;N>C<6

E:G;DGB6C8:D7A><6I>DC6C9I=:C699H6C6EEGDEG>6I:B6G<>C;DGI=6I9>HI>C8I<DD9DGH:GK>8:

1H"-(6GG6C<:B:CIHB6N6AHD8DCI6>C:B7:99:9A:6H:H;DG:FJ>EB:CIJH:9ID;JA;>AAH:GK>8:H8DCIG68IL>I=6

8JHIDB:G>C8AJ9:H6C:B7:99:9A:6H:L=:C1<G6CIHI=:8JHIDB:G6G><=IID8DCIGDAI=:JH:D;6C>9:CI>;>:96HH:I;DG6

E:G>D9D;I>B:>C:M8=6C<:;DG8DCH>9:G6I>DCB7:99:9A:6H:HL>I=8JHIDB:GH6G:INE>86AANG:8D<C>O:9:>I=:G6HH6A:H

INE:A:6H:H>CL=>8=G:K:CJ:6C98DHID;H6A:H>HG:8D<C>O:9JEDCA:6H:8DBB:C8:B:CIDGI=:NB6N7:G:8D<C>O:96H

DE:G6I>C<A:6H:H>CL=>8=G:K:CJ:>HG:8D<C>O:9DK:GI=:JH6<:E:G>D90=:G:68DCIG68I8DCI6>CH6C:B7:99:9A:6H:

I=:8DCIG68ITHIG6CH68I>DCEG>8:>H6AAD86I:9IDI=:8DCIG68IE:G;DGB6C8:D7A><6I>DCH6C9I=:A:6H:8DBEDC:CI76H:9JEDC

I=:G:A6I>K:HI6C96ADC:H:AA>C<EG>8:

-=:IG6CH68I>DCEG>8:D;68DCIG68I>H9:I:GB>C:976H:9DC;>M:96C9K6G>67A:8DCH>9:G6I>DC/6G>67A:8DCH>9:G6I>DCG:A6I:9

IDI=:DBE6CNTH"-(D;;:G>C<HD;I:C>C8AJ9:HKDAJB:76H:9EG>8>C<I=6I>H6AAD86I:9IDI=:9>HI>C8I96NHD;I=:H:GK>8:HID

L=>8=I=:K6G>67A:8DCH>9:G6I>DCE:GI6>CH!DL:K:G>C8:GI6>C86H:H:HI>B6I:HD;K6G>67A:8DCH>9:G6I>DC>C8AJ9>C<

E:C6AI>:H8DCI>C<:CIB>A:HIDC:E6NB:CIH6C9G:76I:H6G:C:8:HH6GN-=:DBE6CNDCAN>C8AJ9:H:HI>B6I:HD;K6G>67A:

8DCH>9:G6I>DC>CI=:IG6CH68I>DCEG>8:IDI=::MI:CI>I>HEGD767A:I=6I6H><C>;>86CIG:K:GH6AD;8JBJA6I>K:G:K:CJ:

G:8D<C>O:9L>AACDID88JG-=:H:?J9<B:CIH>CKDAK:8DCH>9:G6I>DCD;=>HIDG>86A6C9:ME:8I:9:ME:G>:C8:L>I=I=:8JHIDB:G

6C9DI=:GH>B>A6G8JHIDB:GH6C9I=:;68IH6C98>G8JBHI6C8:HHE:8>;>8IDI=:6GG6C<:B:CI

DCIG68IHL>I=DJG8JHIDB:GHB6N7:BD9>;>:9DK:GI=:8DJGH:D;I=:8DCIG68II:GB6C9L:B6N8=6C<:I=:H8DE:EG>8:

DG7DI=D;I=::M>HI>C<8DCIG68IHDCIG68IBD9>;>86I>DCH6G:G:K>:L:9ID9:I:GB>C:L=:I=:GI=:NH=DJA97:688DJCI:9;DG

6HE6GID;I=:DG><>C6A8DCIG68II=:I:GB>C6I>DCD;6C:M>HI>C<8DCIG68I6C9I=:8G:6I>DCD;6C:L8DCIG68IDG6H6H:E6G6I:

8DCIG68IDCIG68IBD9>;>86I>DCH6G:6H:E6G6I:8DCIG68IL=:CI=:BD9>;>86I>DCEGDK>9:H699>I>DC6A<DD9H6C9H:GK>8:HI=6I

6G:9>HI>C8I6C9I=:IG6CH68I>DCEG>8:>H6II=:HI6C96ADC:H:AA>C<EG>8:";I=:8DCIG68IBD9>;>86I>DC>HE6GID;I=::M>HI>C<

8DCIG68I68JBJA6I>K:69?JHIB:CIIDG:K:CJ:>HG:8DG9:9";I=:8DCIG68IBD9>;>86I>DCG:EG:H:CIHI=:I:GB>C6I>DCD;I=:

:M>HI>C<8DCIG68I6C9I=:8G:6I>DCD;6C:L8DCIG68II=:BD9>;>:9IG6CH68I>DCEG>8:>H6AAD86I:9IDI=:EGDHE:8I>K:

E:G;DGB6C8:D7A><6I>DCH6C96CN:B7:99:9A:6H:8DBEDC:CIH";68DCIG68IBD9>;>86I>DCBD9>;>:H6C:B7:99:9A:6H:

8DBEDC:CI6C9I=:BD9>;>86I>DC>HCDI688DJCI:9;DG6H6H:E6G6I:8DCIG68II=:8A6HH>;>86I>DCD;I=:A:6H:>HG:6HH:HH:9

-=:DBE6CN<:C:G6AANEGDK>9:H>IHH:GK>8:HJC9:GI>B:6C9B6I:G>6AH8DCIG68IHJC>IEG>8:8DCIG68IH;>M:9EG>8:

8DCIG68IH6C9HD;IL6G:8DCIG68IH;DGL=>8=G:K:CJ:>HG:8D<C>O:9>CI=:;DAADL>C<B6CC:G

+8<40=3<0C4A80;B2>=CA02CB+:K:CJ:>HG:8D<C>O:9DK:GI>B:6I6<G::9JEDC7>AA>C<G6I:HL=:CH:GK>8:H6G:EGDK>9:9

,=8C?A8242>=CA02CB+:K:CJ:>HG:8D<C>O:9DK:GI>B:76H:9DCJC>IB:IG>8HBJAI>EA>:97NI=:6<G::9JEDC8DCIG68IJC>I

EG>8:DGL=:CH:GK>8:H6G:9:A>K:G:9

-)#$!$.$"%#.#$)()$$#($!)##!())"#)(



8G43?A8242>=CA02CBDG8:GI6>C;>M:9EG>8:8DCIG68IHG:K:CJ:>HG:8D<C>O:9DK:GI>B:JH>C<6B:I=D9I=6IB:6HJG:HI=:

:MI:CID;EGD<G:HHIDL6G9H8DBEA:I>DCD;6E:G;DGB6C8:D7A><6I>DC<:C:G6AANJH>C<68DHI>CEJIB:I=D9G:;:GG:9ID6HI=:

E:G8:CI6<:D;8DBEA:I>DC8DHIID8DHIB:I=D9.C9:GI=:E:G8:CI6<:D;8DBEA:I>DC8DHIID8DHIB:I=D9G:K:CJ:>H

G:8D<C>O:976H:9DCI=:EGDEDGI>DCD;IDI6A8DHI>C8JGG:9ID:HI>B6I:9IDI6A8DHIH6I8DBEA:I>DCE:G;DGB6C8:D7A><6I>DCH

:HI>B6I:6I8DBEA:I>DC>C8AJ9:H6AA9>G:8I8DHIHHJ8=6HB6I:G>6AH6C9A67DG)GD;>I>C6<>K:CE:G>D9>HG:EDGI:96II=:

:HI>B6I:9EGD;>IB6G<>CID7:68=>:K:9DCI=:DK:G6AA8DCIG68I";:HI>B6I:9IDI6A8DHIH6I8DBEA:I>DC:M8::9:HI>B6I:9

G:K:CJ:;DG68DCIG68IJC9:GI=:E:G8:CI6<:D;8DBEA:I>DC8DHIID8DHIB:I=D9I=:ADHH>HG:8D<C>O:9>CI=:FJ6GI:G>I;>GHI

7:8DB:HEGD767A:6C9G:6HDC67AN:HI>B67A:";DJIEJIDG>CEJIB:6HJG:H6G:CDI6K6>A67A:DG86CCDI7:G:6HDC67AN

:HI>B6I:9G:K:CJ:>H9:;:GG:9JCI>AEGD<G:HH86C7:B:6HJG:96C98DHIH6G:CDI9:;:GG:9JCA:HHI=:NB::II=:8G>I:G>6;DG

86E>I6A>O6I>DC

*>5CF0A42>=CA02CB:GI6>CD;1H6GG6C<:B:CIH>CKDAK:I=:H6A:D;1EGDEG>:I6GNHD;IL6G:EDHI8DCIG68I8JHIDB:G

HJEEDGI6C9DI=:GHD;IL6G:G:A6I:9H:GK>8:H-=:HI6C96ADC:H:AA>C<EG>8:<:C:G6AAN>H9:I:GB>C:9;DG:68=E:G;DGB6C8:

D7A><6I>DCJH>C<6C69?JHI:9B6G@:I6HH:HHB:CI6EEGD68=76H:9DCI=:EG>8:8=6G<:9L=:G::68=9:A>K:G67A:>HHDA9

H:E6G6I:AN"C8:GI6>CA>B>I:986H:HINE>86AAN;DGHD;IL6G:A>8:CH:HL=:CI=:=>HIDG>86AH:AA>C<EG>8:>H=><=ANK6G>67A:I=:

G:H>9J6A6EEGD68=>HJH:9-=>H6EEGD68=6AAD86I:HG:K:CJ:IDI=:E:G;DGB6C8:D7A><6I>DC:FJ6AIDI=:9>;;:G:C8:7:IL::C

I=:IDI6AIG6CH68I>DCEG>8:6C9I=:D7H:GK67A:HI6C96ADC:H:AA>C<EG>8:H;DGI=:DI=:GE:G;DGB6C8:D7A><6I>DCH+:K:CJ:

;GDB9>HI>C8IHD;IL6G:A>8:CH:H>HG:8D<C>O:96I6ED>CI>CI>B:L=:CI=:8JHIDB:G86C;>GHIJH:I=:HD;IL6G:A>8:CH:";

H><C>;>86CI8JHIDB>O6I>DC>HG:FJ>G:9HD;IL6G:G:K:CJ:>HG:8D<C>O:96HI=:G:A6I:9HD;IL6G:8JHIDB>O6I>DCH:GK>8:H6G:

E:G;DGB:9>C688DG96C8:L>I=I=:E:G8:CI6<:D;8DBEA:I>DC8DHIID8DHIB:I=D99:H8G>7:967DK:+:K:CJ:;DGEDHI

8DCIG68I8JHIDB:GHJEEDGI6C9DI=:GHD;IL6G:H:GK>8:H>HG:8D<C>O:9DK:GI>B:6HI=DH:H:GK>8:H6G:EGDK>9:9

(A02C820;G?4384=CB

19D:HCDI69?JHII=:EGDB>H:96BDJCID;8DCH>9:G6I>DC;DGI=::;;:8IHD;6H><C>;>86CI;>C6C8>C<8DBEDC:CIL=:CI=:

E:G>D97:IL::CL=:C1IG6CH;:GH6EGDB>H:9<DD9DGH:GK>8:ID68JHIDB:G6C9L=:CI=:8JHIDB:GE6NH;DGI=6I<DD9

DGH:GK>8:L>AA7:DC:N:6GDGA:HH

>=CA02C0;0=24B

-=:I>B>C<D;G:K:CJ:G:8D<C>I>DC7>AA>C<H6C986H=8DAA:8I>DCHG:HJAIH>C688DJCIHG:8:>K67A:7>AA:9G:8:>K67A:HJC7>AA:9

G:8:>K67A:H6C98DCIG68I6HH:IH6C99:;:GG:9G:K:CJ:6C969K6C8:8DCIG68IE6NB:CIH8DCIG68IA>67>A>I>:HDCI=:

DBE6CNH76A6C8:H=::IH"C6GG6C<:B:CIHI=6I8DCI6>C6C:A:B:CID;8JHIDB>O:9HD;IL6G:HDAJI>DCH6BDJCIH6G:

<:C:G6AAN7>AA:96HLDG@EGD<G:HH:H>C688DG96C8:L>I=6<G::9JEDC8DCIG68IJ6AI:GBH:>I=:G6IE:G>D9>8>CI:GK6AH:<

BDCI=ANDGJEDC68=>:K:B:CID;8:GI6>C8DCIG68IJ6AB>A:HIDC:H :C:G6AAN7>AA>C<D88JGHHJ7H:FJ:CIIDG:K:CJ:

G:8D<C>I>DCHDB:I>B:HG:HJAI>C<>C8DCIG68I6HH:IH>;I=:G:A6I:97>AA>C<>H8DC9>I>DC6AJEDCBDG:I=6C?JHII=:E6HH6<:D;

I>B:!DL:K:GI=:DBE6CNHDB:I>B:HG:8:>K:H69K6C8:HDG9:EDH>IH;GDB8JHIDB:GH7:;DG:G:K:CJ:>HG:8D<C>O:9

L=>8=G:HJAIH>CI=:<:C:G6I>DCD;8DCIG68IA>67>A>I>:H)6NB:CII:GBHK6GN7NINE:D;EGD9J8IDGH:GK>8:7:>C<EGDK>9:96H

L:AA6H7N8JHIDB:G6AI=DJ<=I=:I:GB7:IL::C>CKD>8>C<6C9L=:CE6NB:CI>H9J:>H<:C:G6AAN6C>CH><C>;>86CIE:G>D9D;

I>B:

>BCBC>'1C08=0>=CA02C

:GI6>CH6A:H8DBB>HH>DCH:6GC:97NI=:DBE6CNHH6A:H;DG8:6G:8DCH>9:G:9>C8G:B:CI6A6C9G:8DK:G67A:8DHIHD;

D7I6>C>C<68DCIG68IL>I=68JHIDB:G-=:B6?DG>IND;H6A:H8DBB>HH>DCH6G:E6>976H:9DCI=:68=>:K:B:CID;FJDI6

76H:9I6G<:IH-=:H:8DHIH6G:9:;:GG:96C96BDGI>O:9DC6HIG6><=IA>C:76H>HDK:G6C6K:G6<:E:G>D9D;7:C:;>I

9:I:GB>C:9ID7:;>K:N:6GH-=:DBE6CN9:I:GB>C:9I=:E:G>D9D;7:C:;>I8DCH>9:G>C<I=:A:C<I=D;>IH8JHIDB:G

8DCIG68IH>IHI:8=CDAD<N6C9DI=:G;68IDGH,DB:8DBB>HH>DCE6NB:CIH6G:CDI86E>I6A>O:97:86JH:I=:N6G::ME:CH:9

9JG>C<I=:;>H86AN:6G6HI=:G:A6I:9G:K:CJ:>HG:8D<C>O:96E>I6A>O:9H6A:H8DBB>HH>DCH8DHIH6G:8A6HH>;>:9L>I=>CDI=:G

6HH:IH6C96BDGI>O:9>CH:AA>C<<:C:G6A6C969B>C>HIG6I>K::ME:CH:H

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>BCBC>D;58;;0>=CA02C

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G:HDJG8:HID7:JH:9>CH6I>H;N>C<;JIJG:E:G;DGB6C8:D7A><6I>DCH6G:86E>I6A>O:9L=:CI=:N6G:9::B:9G:8DK:G67A:

#J9<B:CI>H6EEA>:9ID6HH:HHL=:I=:G8DCIG68IH:IJE8DHIH6G:86E>I6A>O67A:DHIHI=6I<:C:G6I:DG:C=6C8:G:HDJG8:H

D;I:CE:GI6>CID68I>K>I>:HI=6I:C=6C8:I=:86E67>A>I>:HD;I=:H:GK>8:H>BEGDK:8JHIDB:G:ME:G>:C8:6C9:HI67A>H=6BDG:

:;;:8I>K:6C9:;;>8>:CI"-:CK>GDCB:CI-=:DBE6CNG:8D<C>O:HI=:H:IG6CH>I>DC6C9IG6CH;DGB6I>DC8DCIG68I8DHIH6H

DI=:G6HH:IHL=>8=6G:6BDGI>O:9DK:GI=:G:HE:8I>K:8DCIG68IA>;:

!-6;176)6, <0-:-6-.1<!4)6;

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8DBE:CH6I>DCEA6CHJH>C<I=:<J>96C8:D;,DBE:CH6I>DCR :C:G6A6C9,DBE:CH6I>DCR

+:I>G:B:CI:C:;>IH-=:DBE6CNG:8D<C>O:H68IJ6G>6A<6>CH6C9ADHH:H6C98=6C<:H>C;6>GK6AJ:D;EA6C6HH:IH>C

:6GC>C<H6II=:I>B:D;EA6CG:B:6HJG:B:CI6H68DBEDC:CID;C:IE:G>D9>87:C:;>I:ME:CH:-NE>86AANEA6C

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FJ6GI:GAN76H>H

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IG:C9G6I:HDBE6CNB6C6<:B:CI:K6AJ6I:HI=:H:6HHJBEI>DCH6CCJ6AAN6C9JE96I:H6HHJBEI>DCH6HC:8:HH6GN-=:

;6>GK6AJ:D;6HH:IH>H9:I:GB>C:976H:9DCI=:EG:K6>A>C<B6G@:IEG>8:HDG:HI>B6I:9;6>GK6AJ:D;>CK:HIB:CIHL=:C

FJDI:9EG>8:H6G:CDI6K6>A67A:

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8JHIDB:GHI=:DBE6CN86E>I6A>O:H8DHIH>C8JGG:9ID9:K:ADE8DBB:G8>6AHD;IL6G:EGD9J8IHID7:HDA9A:6H:9DG

DI=:GL>H:B6G@:I:9DHIH>C8JGG:9ID:HI67A>H=I:8=CDAD<>86A;:6H>7>A>IN6G:8=6G<:9ID:ME:CH:6H>C8JGG:9

C=6C8:B:CIHIDHD;IL6G:EGD9J8IH6G:86E>I6A>O:9L=:CHJ8=:C=6C8:B:CIH:MI:C9I=:A>;:DGH><C>;>86CIAN:ME6C9I=:

B6G@:I67>A>IND;I=:EGD9J8IHBDGI>O6I>DCD;86E>I6A>O:9HD;IL6G:9:K:ADEB:CI8DHIH>H9:I:GB>C:9H:E6G6I:AN;DG:68=

HD;IL6G:EGD9J8ICCJ6A6BDGI>O6I>DC:ME:CH:>H86A8JA6I:976H:9DCI=:<G:6I:GD;I=:G6I>DD;8JGG:CI<GDHHG:K:CJ:H

;DG:68=EGD9J8IIDI=:IDI6AD;8JGG:CI6C96CI>8>E6I:9;JIJG:<GDHHG:K:CJ:H;DGI=:EGD9J8IDGI=:HIG6><=IA>C:

6BDGI>O6I>DCB:I=D9DK:GI=::HI>B6I:9JH:;JAA>;:D;I=:EGD9J8I

.C6BDGI>O:986E>I6A>O:9HD;IL6G:8DHIH6HHD8>6I:9L>I=8DBB:G8>6AHD;IL6G:EGD9J8IH6G:E:G>D9>86AAN:K6AJ6I:9;DG

>BE6>GB:CIDC6EGD9J8I7NEGD9J8I76H>H7N8DBE6G>C<I=:JC6BDGI>O:976A6C8:IDI=:EGD9J8ITHC:IG:6A>O67A:K6AJ:

-=:C:IG:6A>O67A:K6AJ:>HI=::HI>B6I:9;JIJG:<GDHHG:K:CJ:H;GDBI=6IEGD9J8IG:9J8:97NI=:G:A6I:9:HI>B6I:9;JIJG:

8DHIH0=:CI=:JC6BDGI>O:976A6C8::M8::9HI=:C:IG:6A>O67A:K6AJ:I=:JC6BDGI>O:976A6C8:>HLG>II:C9DLCIDI=:

C:IG:6A>O67A:K6AJ:6C96C>BE6>GB:CI8=6G<:>HG:8DG9:9

-=:DBE6CN86E>I6A>O:H8DHIH>C8JGG:9ID9:K:ADE>CI:GC6AJH:8DBEJI:GHD;IL6G:9JG>C<I=:6EEA>86I>DC9:K:ADEB:CI

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6C9:MI:GC6A8DHIH>C8JGG:9>C8DCC:8I>DCL>I=9:K:ADEB:CID;JE<G69:HDG:C=6C8:B:CIHI=6IG:HJAI>C699>I>DC6A

;JC8I>DC6A>IN6G:6AHD86E>I6A>O:96E>I6A>O:98DHIH6HHD8>6I:9L>I=>CI:GC6AJH:HD;IL6G:6G:6BDGI>O:9DC6HIG6><=IA>C:

76H>HDK:GI=::HI>B6I:9JH:;JAA>;:D;I=:HD;IL6G:)JG8=6H:9HD;IL6G:>H86E>I6A>O:96C96BDGI>O:9DK:GI=::HI>B6I:9

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8>G8JBHI6C8:HD88JGI=6I8DJA9>BE68II=:G:8DK:G67>A>IND;I=:H:6HH:IH

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76H:98DBE:CH6I>DCID>IH:BEADN::H6C9CDC:BEADN::9>G:8IDGH-=>H<:C:G6AAN>C8AJ9:HG:HIG>8I:9HID8@JC>IH

+,.H>C8AJ9>C<E:G;DGB6C8:76H:9G:HIG>8I:9HID8@JC>IH),.H-=:;6>GK6AJ:D;6L6G9H>H9:I:GB>C:9DCI=:

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I=::HI>B6I:9;6>GK6AJ:D;),.HL>I=6B6G@:I8DC9>I>DC-=>HBD9:A>C8AJ9:H6HHJBEI>DCHG:<6G9>C<I:GBG>H@;G::

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G>H@;G::G6I::FJ6AHI=:N>:A96HD;I=:/6AJ6I>DC6I:DCH:B>6CCJ6AO:GD8DJEDC.,-G:6HJGNG6I:H-=:9>K>9:C9

N>:A96HHJBEI>DC>H76H:9DCI=:G:HE:8I>K:;>H86AN:6G9>K>9:C9E6NDJIHME:8I:9KDA6I>A>IN>H76H:9DC6=>HIDG>86A

6EEGD68=6C9I=:DBE6CN8DCH>9:GHI=:E:G;DGB6C8:E:G>D9D;I=:6L6G9

DG6L6G9HH:IIA:9>CH=6G:HI=:DBE6CNG:8D<C>O:H8DBE:CH6I>DC:ME:CH:76H:9DCI=:<G6CI96I:;6>GK6AJ:C:ID;

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76H:9DCI=:;6>GK6AJ:6I:68=G:EDGI>C<96I:C:ID;:HI>B6I:9;DG;:>IJG:H

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7:IL::C6CCJ6AI:HIH>;8>G8JBHI6C8:H8=6C<:DG>;6C:K:CID88JGHI=6ILDJA9BDG:A>@:ANI=6CCDIG:9J8:I=:;6>GK6AJ:

D;6G:EDGI>C<JC>I7:ADL>IH86GGN>C<6BDJCI-=:DBE6CN=6H9:;>C:9>IHG:EDGI>C<JC>IH6H>IHG:EDGI67A:H:<B:CIH

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6CCJ6AI:HI>C<96I:H,J8=>C9>86IDGH>C8AJ9:6H><C>;>86CI9:8A>C:>CI=:DBE6CNHHID8@EG>8:6H><C>;>86CI9:8A>C:>C

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8DBE:I>I>DCI=:9>HEDH6AD;6H><C>;>86CI8DBEDC:CID;6G:EDGI>C<JC>I6C9I=:I:HI>C<;DGG:8DK:G67>A>IND;6H><C>;>86CI

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G:EDGI>C<JC>IH>C8AJ9>C<B68GD:8DCDB>88DC9>I>DCH>C9JHIGN6C9B6G@:I8DCH>9:G6I>DCHDK:G6AA;>C6C8>6AE:G;DGB6C8:

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K6AJ:I=:CHJ7H:FJ:CIFJ6CI>I6I>K:<DD9L>AA>BE6>GB:CII:HI>C<>HCDIG:FJ>G:9";I=:DBE6CN9:I:GB>C:HI=6I>I>HBDG:

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K6AJ:";I=:G:EDGI>C<JC>ITH;6>GK6AJ::M8::9H>IH86GGN>C<K6AJ:CD;JGI=:GEGD8:9JG:H6G:G:FJ>G:9!DL:K:G>;6

G:EDGI>C<JC>ITH;6>GK6AJ:>HA:HHI=6C>IH86GGN>C<K6AJ:I=:C6C>BE6>GB:CI8=6G<:>HG:8DG9:9>CI=:6BDJCID;I=:

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G:EDGI>C<JC>ITH67>A>INID:M:8JI:DCI=:EGD?:8I:9;JIJG:86H=;ADLH-=:B6G@:I6EEGD68=:HI>B6I:H;6>GK6AJ:7N6EEAN>C<

E:G;DGB6C8:B:IG>8BJAI>EA:HIDI=:G:EDGI>C<JC>IHEG>DG6C9:ME:8I:9DE:G6I>C<E:G;DGB6C8:-=:BJAI>EA:H6G:9:G>K:9

;GDB8DBE6G67A:EJ7A>8ANIG69:98DBE6C>:HI=6I=6K:DE:G6I>C<6C9>CK:HIB:CI8=6G68I:G>HI>8HH>B>A6GIDI=DH:D;I=:

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:HI>B6I:JH>C<I=:DI=:G6EEGD68=I=:DBE6CNG::K6AJ6I:H>IH6HHJBEI>DCHJH:9>CI=:ILDBD9:AHHHJBEI>DCH6G:

BD9>;>:96H8DCH>9:G:96EEGDEG>6I:JC9:GI=:8>G8JBHI6C8:HJCI>AI=:ILDBD9:AHN>:A9H>B>A6G6C9G:6HDC67A:G:HJAIH

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I=:G:EDGI>C<JC>IHT;6>GK6AJ:HIDI=:DBE6CNHB6G@:I86E>I6A>O6I>DCE:GH=6G:HID8@EG>8:BJAI>EA>:97NI=:CJB7:GD;

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HJEEDGI:97NG:A:K6CIB6G@:I96I6

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B:6HJG:B:CI>C>IH:CI>G:IN-=:A:K:AHD;>CEJI6G:9:;>C:96H;DAADLH

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%DC<A>K:96HH:IHHJ8=6HEGDE:GIN6C9:FJ>EB:CI6C9;>C>I:A>K:9>CI6C<>7A:6HH:IH6G:G:K>:L:9;DG>BE6>GB:CI

L=:C:K:G:K:CIHDG8=6C<:H>C8>G8JBHI6C8:H>C9>86I:I=6II=:86GGN>C<6BDJCID;6C6HH:IDG<GDJED;6HH:IHB6NCDI7:

G:8DK:G67A:+:8DK:G67>A>IND;ADC<A>K:96HH:IHDG<GDJEHD;6HH:IH>H6HH:HH:976H:9DC68DBE6G>HDCD;I=:86GGN>C<

6BDJCID;HJ8=6HH:IHIDI=::HI>B6I:9;JIJG:C:I86H=;ADLH";:HI>B6I:9;JIJG:C:I86H=;ADLH6G:A:HHI=6CI=:86GGN>C<

6BDJCID;HJ8=6HH:IH6C:ME:CH:>HG:8DG9:9>CI=:6BDJCIG:FJ>G:9IDG:9J8:I=:86GGN>C<6BDJCID;HJ8=6HH:IHID

;6>GK6AJ:6>GK6AJ:>H9:I:GB>C:976H:9DC69>H8DJCI:986H=;ADL6EEGD68=DGL=:C6K6>A67A:6C96EEGDEG>6I:

8DBE6G67A:B6G@:IK6AJ:H%DC<A>K:96HH:IHID7:9>HEDH:9D;6G:G:EDGI:96II=:ADL:GD;I=:>G86GGN>C<6BDJCIDGI=:>G

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=6K>C<I=:6JI=DG>INID6EEGDK:I=:68I>DC8DBB>IHID6EA6CIDH:AAI=:6HH:I9>HEDH6A<GDJE>>I=:6HH:I9>HEDH6A

<GDJE>H6K6>A67A:;DG>BB:9>6I:H6A:>C>IHEG:H:CI8DC9>I>DCHJ7?:8IDCANIDI:GBHI=6I6G:JHJ6A6C98JHIDB6GN;DGH6A:H

D;HJ8=6HH:IH9>HEDH6A<GDJE>>>6C68I>K:EGD<G6BIDAD86I:67JN:G6C9DI=:G68I>DCHG:FJ>G:9ID8DBEA:I:I=:EA6CID

H:AAI=:6HH:I9>HEDH6A<GDJE=6K:7::C>C>I>6I:9>KI=:H6A:D;I=:6HH:I9>HEDH6A<GDJE>HEGD767A:6C9IG6CH;:GD;

I=:6HH:I9>HEDH6A<GDJE>H:ME:8I:9IDFJ6A>;N;DGG:8D<C>I>DC6H68DBEA:I:9H6A:L>I=>CDC:N:6G:M8:EI>;:K:CIHDG

8>G8JBHI6C8:H7:NDC9DJG8DCIGDA:MI:C9I=:E:G>D9D;I>B:G:FJ>G:9IDH:AAI=:6HH:I9>HEDH6A<GDJE7:NDC9DC:N:6G

KI=:6HH:I9>HEDH6A<GDJE>H7:>C<68I>K:ANB6G@:I:9;DGH6A:6I6EG>8:I=6I>HG:6HDC67A:>CG:A6I>DCID>IH8JGG:CI;6>G

K6AJ:6C9K>68I>DCHG:FJ>G:9ID8DBEA:I:I=:EA6C>C9>86I:I=6I>I>HJCA>@:ANI=6IH><C>;>86CI8=6C<:HIDI=:EA6CL>AA7:

B69:DGI=6II=:EA6CL>AA7:L>I=9G6LC

ADC<A>K:96HH:I9>HEDH6A<GDJEI=6I>H8A6HH>;>:96H=:A9;DGH6A:>H>C>I>6AANB:6HJG:96II=:ADL:GD;>IH86GGN>C<K6AJ:

DG;6>GK6AJ:A:HH6CN8DHIHIDH:AACNADHHG:HJAI>C<;GDBI=>HB:6HJG:B:CI>HG:8D<C>O:9>CI=:E:G>D9>CL=>8=I=:=:A9

;DGH6A:8G>I:G>66G:B:IDCK:GH:AN<6>CH6G:CDIG:8D<C>O:9DCI=:H6A:D;6ADC<A>K:96HH:I9>HEDH6A<GDJEJCI>AI=:

96I:D;H6A:

-=:;6>GK6AJ:D;6ADC<A>K:96HH:I9>HEDH6A<GDJEA:HH6CN8DHIHIDH:AA>H6HH:HH:9:68=G:EDGI>C<E:G>D9I=6I>IG:B6>CH

8A6HH>;>:96H=:A9;DGH6A:6C96CNHJ7H:FJ:CI8=6C<:H6G:G:EDGI:96H6C69?JHIB:CIIDI=:86GGN>C<K6AJ:D;I=:6HH:I

9>HEDH6A<GDJE6HADC<6HI=:C:L86GGN>C<K6AJ:9D:HCDI:M8::9I=:86GGN>C<K6AJ:D;I=:6HH:I6II=:I>B:>IL6H

>C>I>6AAN8A6HH>;>:96H=:A9;DGH6A:

6+75-$)@-;

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I=::ME:8I:9;JIJG:I6M8DCH:FJ:C8:HD;I:BEDG6GN9>;;:G:C8:H7:IL::C;>C6C8>6AHI6I:B:CI86GGN>C<6BDJCIHD;6HH:IH

6C9A>67>A>I>:H6C9I=:>GG:HE:8I>K:I6M76H:HJH>C<HI6IJIDGNI6MG6I:H>C:;;:8I;DGI=:N:6G>CL=>8=I=:9>;;:G:C8:H6G:

:ME:8I:9IDG:K:GH:-=::;;:8ID;68=6C<:>CI6MG6I:HDC9:;:GG:9I6M6HH:IH6C9A>67>A>I>:H>HG:8D<C>O:9>CI=:G:HJAIHD;

DE:G6I>DCH>CI=:E:G>D9I=6I>C8AJ9:HI=:G:A6I:9:C68IB:CI96I:

K6AJ6I>DC6AADL6C8:>H:HI67A>H=:9L=:C>I>HBDG:A>@:ANI=6CCDII=6I6AADG6EDGI>DCD;69:;:GG:9I6M6HH:IL>AACDI7:

G:6A>O:9=6C<:H>CK6AJ6I>DC6AADL6C8:H;GDBE:G>D9IDE:G>D96G:>C8AJ9:9>CI=:DBE6CNTHI6MEGDK>H>DC9JG>C<I=:

E:G>D9>CL=>8=I=:8=6C<:D88JGG:9"C9:I:GB>C>C<L=:I=:G6K6AJ6I>DC6AADL6C8:>HL6GG6CI:9I=:DBE6CN8DCH>9:GH

6AA6K6>A67A:EDH>I>K:6C9C:<6I>K::K>9:C8:>C8AJ9>C<;JIJG:G:K:GH6AHD;:M>HI>C<I6M67A:I:BEDG6GN9>;;:G:C8:HI6M67A:

>C8DB:>CEG>DG86GGN768@N:6GHEGD?:8I:9;JIJG:I6M67A:>C8DB:I6MEA6CC>C<HIG6I:<>:H6C9G:8:CIG:HJAIHD;;>C6C8>6A

DE:G6I>DCH-=:DBE6CNG:8D<C>O:HI=:I6M7:C:;>ID;JC8:GI6>CI6MEDH>I>DCHL=:C>I>HBDG:A>@:ANI=6CCDII=6II=:I6M

EDH>I>DCL>AA7:HJHI6>C:9JEDC:M6B>C6I>DC.C8:GI6>CI6MEDH>I>DCH6G:B:6HJG:976H:9DCI=:EGD767>A>I>:HI=6II=:

JC8:GI6>CI6MEDH>I>DCL>AA7:G:6A>O:9JEDC;>C6AH:IIA:B:CI

AAI6MG:A6I:986H=;ADLHG:HJAI>C<;GDB:M8:HHI6M7:C:;>IHG:A6I:9IDI=:H:IIA:B:CID;H=6G:76H:96L6G9H6G:8A6HH>;>:9

6H86H=;ADLH;GDBDE:G6I>C<68I>K>I>:H6C986H=E6>97N9>G:8IANL>I==DA9>C<H=6G:H;DGI6ML>I==DA9>C<EJGEDH:H>H

8A6HH>;>:96H6;>C6C8>C<68I>K>IN>CI=:HI6I:B:CIHD;86H=;ADLH

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DBE6CNTH86H=:FJ>K6A:CIH8DCH>HID;I>B:9:EDH>IHBDC:NB6G@:I;JC9H6C9BDC:NB6G@:I9:EDH>I688DJCIHL>I=6

CJB7:GD;>CHI>IJI>DCHI=6I=6K:=><=8G:9>IG6I>C<H

7:-1/6=::-6+A

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A>67>A>I>:HD;I=:;DG:><C6;;>A>6I:H6G:IG6CHA6I:9;GDBI=:>GG:HE:8I>K:;JC8I>DC6A8JGG:C8NID.,9DAA6GHJH>C<;>H86AN:6G

:C9:M8=6C<:G6I:H>C8DB:6C9:ME:CH:688DJCIH6G:IG6CHA6I:96II=:6K:G6<:G6I:H>C:;;:8I9JG>C<I=:;>H86AN:6G6C9

:FJ>IN688DJCIH6G:IG6CHA6I:96I=>HIDG>86AG6I:H-=:G:HJAI>C<IG6CHA6I>DC69?JHIB:CI>HG:EDGI:9>CI=:HI6I:B:CIHD;

8DBEG:=:CH>K:>C8DB:6C9G:8DG9:96HE6GID;688JBJA6I:9DI=:G8DBEG:=:CH>K:ADHH

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,U:G>K6I>K:H6C9!:9<>C<VDGHJ8=9:G>K6I>K:>CHIGJB:CIHI=:DBE6CN9D8JB:CIH>IHG>H@B6C6<:B:CI

D7?:8I>K:H6C9HIG6I:<N;DGJC9:GI6@>C<=:9<>C<IG6CH68I>DCH6HL:AA6H6AAG:A6I>DCH=>EH7:IL::C=:9<>C<6C9=:9<:9

G>H@H-=:DBE6CNH9:G>K6I>K:>CHIGJB:CIH9:H><C6I:9;DG=:9<:688DJCI>C<>C8AJ9:>CI:G:HIG6I:HL6EH6C9;DG:><C

8JGG:C8N;DGL6G96C9DEI>DC8DCIG68IH=6C<:H>CI=:;6>GK6AJ:B:6HJG:B:CIHD;I=:H:9:G>K6I>K:>CHIGJB:CIH6G:

G:;A:8I:96H69?JHIB:CIHIDDI=:G8DBEG:=:CH>K:>C8DB:ADHH6C9HJ7H:FJ:CIANG:8A6HH>;>:9>CID:6GC>C<H>CI=:E:G>D9

9JG>C<L=>8=I=:=:9<:9IG6CH68I>DCHD88JGG:9CN>C:;;:8I>K:C:HHDG:M8AJ9:9EDGI>DCD;69:H><C6I:9=:9<:>H

G:8D<C>O:9>C:6GC>C<H

-=:DBE6CN6AHD=6H:CI:G:9>CID8:GI6>CC:I>CK:HIB:CI=:9<:H=6C<:H>CI=:;6>GK6AJ:D;C:I>CK:HIB:CI=:9<:H

6G:G:8DG9:9>CI=:8JGG:C8NIG6CHA6I>DC69?JHIB:CIH:8I>DCD;DI=:G8DBEG:=:CH>K:>C8DB:ADHH6C9HJ7H:FJ:CIAN

G:8A6HH>;>:9>CID:6GC>C<H>CI=:E:G>D9I=:=:9<:9>I:B6;;:8IH:6GC>C<H-=:DBE6CN:M8AJ9:H;DGL6G9ED>CIH;GDBI=:

:;;:8I>K:C:HH6HH:HHB:CID;>IHC:I>CK:HIB:CI=:9<:H=6C<:H>C;6>GK6AJ:D;I=::M8AJ9:98DBEDC:CI6G:G:8D<C>O:9

>C:6GC>C<H

-=:9:G>K6I>K:>CHIGJB:CIHCDI9:H><C6I:96H=:9<:H;DGEJGEDH:HD;=:9<:688DJCI>C<>C8AJ9:IDI6AG:IJGCHL6EH6C9

8:GI6>CH=DGII:GB;DG:><C8JGG:C8N;DGL6G98DCIG68IH-=:H:>CHIGJB:CIH6G:G:8DG9:96II=:>GG:HE:8I>K:;6>GK6AJ:H6C9

I=:8=6C<:>CI=:>GK6AJ:>HG:EDGI:9>C8JGG:CIE:G>D9:6GC>C<H-=:DBE6CN9D:HCDIJH:9:G>K6I>K:>CHIGJB:CIH;DG

IG69>C<DGHE:8JA6I>K:EJGEDH:-=:DBE6CNG:EDGIHI=::;;:8I>K:EDGI>DCD;>IH86H=;ADL=:9<:H>CI=:H6B:;>C6C8>6A

HI6I:B:CIA>C:>I:B6H8=6C<:H>CI=:;6>GK6AJ:D;I=:=:9<:9>I:BAA86H=;ADLH6HHD8>6I:9L>I=I=:DBE6CNH

9:G>K6I>K:>CHIGJB:CIH6G:8A6HH>;>:96HDE:G6I>C<68I>K>I>:H>CI=:HI6I:B:CIHD;86H=;ADLH



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JG>C<;>H86A169DEI:9I=:;DAADL>C<88DJCI>C<,I6C96G9H.E96I:H,.>HHJ:97NI=:>C6C8>6A88DJCI>C<

,I6C96G9HD6G9

/B3AAC32/<2

(*

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#6CJ6GN

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H:<B:CI9>H8ADHJG:H6C9I=:;G:FJ:C8NI=:G:D;

-=:DBE6CN69DEI:9I=>HHI6C96G97N:ME6C9>C<

9>H8ADHJG:HG:A6I:9IDH:<B:CIH>CI=:CDI:HIDI=:;>C6C8>6A

HI6I:B:CIH

-?++7=6<16/!:767=6+-5-6<;

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CDIN:I7::C69DEI:97N1

/B3AAC32/<2

(*

-4431B7D3

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>C8DB:I6M:HE6>9EG:H8G>7:HHI6C96G9

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HI6I:B:CIH

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DBE6CNTH;>C6C8>6AHI6I:B:CI9>H8ADHJG:H7JICDI>IH

8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH

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8DCHDA>96I:9;>C6C8>6AHI6I:B:CIH

#=B37D3AB7BC@3A

1;+)41>-;<1<=:-;

JG>C<;>H86AI=:DBE6CNHDA9>CH><C>;>86CI7JH>C:HH:HI=6IG:HJAI:9>C6<6>CD;B>AA>DC

1;+)41>-;<1<=:-;

JG>C<;>H86AI=:DBE6CNHDA9>CH><C>;>86CI7JH>C:HH:H6C9B69:69?JHIB:CIHID:HI>B6I:96BDJCIH;GDBEG>DG

N:6GHT9>HEDH>I>DCHI=6IG:HJAI:9>C6<6>CD;B>AA>DC

1;+)41>-;<1<=:-;

JG>C<;>H86A18DBEA:I:9I=:H6A:D;>IH :GB6C;>C6C8>6AH:GK>8:HHJ7H>9>6GNDGI=:JH>C:HHID

I=:'3 GDJE'3;DGXB>AA>DC6EEGDM>B6I:ANB>AA>DCG:HJAI>C<>C6EG:I6M<6>CD;6EEGDM>B6I:AN

B>AA>DC"C8AJ9:9>CI=:H6A:L6H16C@ :GB6CN6 :GB6CG:I6>A76C@I=6I168FJ>G:9;DGIDI6A8DCH>9:G6I>DC

D;B>AA>DCDC#6CJ6GN

JG>C<;>H86AI=:DBE6CNHDA9>CH><C>;>86CI7JH>C:HH:HI=6IG:HJAI:9>C6C:IADHHD;B>AA>DC"C8AJ9:9>CI=>H

6BDJCIL6HI=:DBE6CNHEG>B6GN+JHH>6C:CI>INI=6II=:DBE6CNHDA9>CI=:H:8DC9FJ6GI:GD;;>H86A



#=B3/@<7<5A!=AA%3@(6/@3

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>AJI:9),G:;A:8II=:>C8G:B:CI6AH=6G:H>HHJ67A:JEDCI=:6HHJB:9:M:G8>H:D;HID8@DEI>DCH6C9:FJ>IN6L6G9H-=:

;DAADL>C<I67A:G:;A:8IHI=:86A8JA6I>DCD;76H>86C99>AJI:9),

7A1/:.3/@A<232

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#3B7<1=;3:=AA/BB@70CB/0:3B=-1=;;=<A6/@36=:23@A      

=;;=<A6/@37<4=@;/B7=<

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>AJI>K::;;:8ID;HID8@DEI>DCH6C9:FJ>IN6L6G9H     S

0:><=I:96K:G6<:8DBBDCH=6G:HDJIHI6C9>C<;DG9>AJI:9),      

/@<7<5A:=AA>3@A6/@3

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>AJI:9      

:GI6>CH=6G:76H:9:FJ>IN6L6G9HL:G::M8AJ9:9;GDBI=:8DBEJI6I>DCD;9>AJI>K:),7:86JH:>C8AJH>DCD;I=:H:

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7A1/:.3/@A<232

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+,.H      

),.H      



#=B3'3137D/0:3A

+:8:>K67A:HC:ID;6AADL6C8:;DG9DJ7I;JA688DJCIH8DCH>HID;I=:;DAADL>C<

A=4

>CB>AA>DCH "/@16 "/@16

>AA:9IG69:G:8:>K67A:H    

.C7>AA:9G:8:>K67A:H    

(I=:GG:8:>K67A:H   

-DI6 A    

-=:DBE6CN86A8JA6I:H:ME:8I:98G:9>IADHH:H;DGIG69:688DJCIHG:8:>K67A:76H:9DC=>HIDG>86A8G:9>IADHHG6I:H;DG

:68=6<>C<86I:<DGN6H69?JHI:9;DGI=:8JGG:CIB6G@:I8DC9>I>DCH6C9;DG:86HIH67DJI;JIJG::8DCDB>88DC9>I>DCH-=:

;DAADL>C<I67A:EG:H:CIHI=:8=6C<:>C76A6C8:;DGI=:6AADL6C8:;DG9DJ7I;JA688DJCIH

A=4/<24=@7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16

:<>CC>C<76A6C8:    

)GDK>H>DCH;DGADHH:HDC688DJCIHG:8:>K67A:   S

(I=:G69?JHIB:CIHID6AADL6C8:6C9LG>I:D;;H   

C9>C<76A6C8:    

"-+-1>)*4-;)+141<A

-=:DBE6CN=6H6C688DJCIHG:8:>K67A:H6A:H;68>A>IN6H6B:C9:9G:HI6I:9HJEEA:B:CI:9DGDI=:GL>H:BD9>;>:96HD;

&6G8=I=:+:8:>K67A:H68>A>INL>I=8:GI6>CJC6;;>A>6I:9;>C6C8>6A>CHI>IJI>DCHI=:)JG8=6H:GH;DGI=:H6A:D;

8DBB:G8>6A688DJCIHG:8:>K67A:>CI=:.C>I:9,I6I:H-=:+:8:>K67A:H68>A>IN=6H6;68>A>INA>B>ID;B>AA>DC6HD;

&6G8=-=:+:8:>K67A:H68>A>INHI:GB>C6I>DC96I:>H#JAN

HD;&6G8=I=:IDI6A6K6>A67>A>INJC9:GI=:+:8:>K67A:H68>A>INL6HB>AA>DC6C9I=:6BDJCIHDA9IDI=:

)JG8=6H:GHL6HB>AA>DCL=>8=L6H9:G:8D<C>O:9;GDBI=:DBE6CNH76A6C8:H=::I

-=:;6>GK6AJ:D;I=:HDA9G:8:>K67A:H6EEGDM>B6I:9I=:>G7DD@K6AJ:9J:IDI=:>GH=DGII:GBC6IJG:G:HJAI>C<>CCD<6>CDG

ADHHG:8DG9:9DCI=:H6A:D;G:8:>K67A:H

#=B3!3/A3A

-=: DBE6CN =6H DE:G6I>C< 6C9 ;>C6C8: A:6H:H ;DG 96I6 8:CI:GH 8DGEDG6I: D;;>8:H 6C9 8:GI6>C :FJ>EB:CI (JG A:6H:H

=6K:G:B6>C>C<A:6H:I:GBHD;DC:IDN:6GHHDB:D;L=>8=>C8AJ9:DEI>DCHID:MI:C9I=:A:6H:H;DGJEIDN:6GH6C9

HDB:D;L=>8=>C8AJ9:DEI>DCHIDI:GB>C6I:I=:A:6H:HL>I=>CDC:IDI=G::N:6GH



8-:)<16/-);-;

-=:8DBEDC:CIHD;DE:G6I>C<A:6H::ME:CH:L:G:6H;DAADLH

=@B637A1/:.3/@<232

>CB>AA>DCH "/@16 "/@16 "/@16

(E:G6I>C<A:6H:8DHI      

,=DGII:GBA:6H:8DHI     

/6G>67A:A:6H:8DHI     

,J7A:6H:>C8DB:     

-DI6ADE:G6I>C<8DHIH      

6H=E6NB:CIHB69:;DGK6G>67A:A:6H:8DHIH6C9H=DGII:GBA:6H:H6G:CDI>C8AJ9:9>CI=:B:6HJG:B:CID;DE:G6I>C<

A:6H:A>67>A>I>:H6C96HHJ8=6G::M8AJ9:9;GDBI=:HJEEA:B:CI6A86H=;ADL>C;DGB6I>DCHI6I:97:ADL

=@B637A1/:.3/@<232

>CB>AA>DCH "/@16 "/@16 "/@16

6H=E6>9;DG6BDJCIH>C8AJ9:9>CI=:B:6HJG:B:CID;DE:G6I>C<A:6H:

A>67>A>I>:HRDE:G6I>C<86H=;ADLH      

+(.6HH:IHD7I6>C:9>C:M8=6C<:;DGDE:G6I>C<A:6H:A>67>A>I>:H      

+74A4F4A4<8;;8>=<8;;8>=0=3<8;;8>=8=<>385820C8>=B0=3C4A<8=0C8>=B8=58B20;0=3A4B?42C8E4;H*44&>C4

J0B7;>FBN5>A5DAC74A8=5>A<0C8>=>==>=20B702C8E8C84B05542C8=620B75;>FB

-=:;DAADL>C<I67A:EG:H:CIHDE:G6I>C<A:6H:76A6C8:H

A=4

>CB>AA>DCH /:/<13(633B!7<3B3; "/@16 "/@16

+(.DE:G6I>C<A:6H:6HH:IH (E:G6I>C<G><=ID;JH:6HH:IHC:I    

(E:G6I>C<A:6H:A>67>A>I>:H JGG:CIDE:G6I>C<A:6H:A>67>A>I>:H    

(E:G6I>C<A:6H:A>67>A>I>:H 'DC8JGG:CIDE:G6I>C<A:6H:A>67>A>I>:H    

-DI6ADE:G6I>C<A:6H:A>67>A>I>:H    

-=:L:><=I:96K:G6<:DE:G6I>C<A:6H:I:GBL6HN:6GH6C9N:6GH6HD;&6G8=6C9&6G8=

G:HE:8I>K:AN-=:L:><=I:96K:G6<:DE:G6I>C<A:6H:9>H8DJCIG6I:L6H6C96HD;&6G8=6C9

&6G8=G:HE:8I>K:AN

-=:;DAADL>C<B6IJG>IN6C6ANH>HEG:H:CIH:ME:8I:9JC9>H8DJCI:986H=E6NB:CIH;DGDE:G6I>C<A:6H:H6HD;&6G8=



7A1/:.3/@

>CB>AA>DCH      )63@3/4B3@ )=B/:

(E:G6I>C<A:6H:E6NB:CIH              

%:HH>BEJI:9>CI:G:HI  

-DI6ADE:G6I>C<A:6H:A>67>A>I>:H  



16)6+--);-;

-=:8DBEDC:CIHD;;>C6C8:A:6H::ME:CH:L:G:6H;DAADLH

=@B637A1/:.3/@<232

>CB>AA>DCH "/@16 "/@16 "/@16

>C6C8:A:6H:8DHI

BDGI>O6I>DCD;G><=ID;JH:6HH:IH      

"CI:G:HIDCA:6H:A>67>A>I>:H     

-DI6A;>C6C8:A:6H:8DHI      

-=:;DAADL>C<I67A:EGDK>9:HHJEEA:B:CI6A86H=;ADL>C;DGB6I>DCG:A6I:9IDI=:DBE6CNTH;>C6C8:A:6H:H

=@B637A1/:.3/@<232

>CB>AA>DCH "/@16 "/@16 "/@16

"CI:G:HIE6>9;DG;>C6C8:A:6H:A>67>A>I>:HR(E:G6I>C<86H=;ADLH      

6H=E6>9;DG6BDJCIH>C8AJ9:9>CI=:B:6HJG:B:CID;;>C6C8:A:6H:

D7A><6I>DCHR;>C6C8>C<86H=;ADLH     

-DI6A86H=E6>9>CI=:B:6HJG:B:CID;;>C6C8:A:6H:D7A><6I>DCH      

6E>I6A:ME:C9>IJG:HI=GDJ<=;>C6C8:A:6H:D7A><6I>DCH      



*44&>C4JN0B7;>FBN5>A5DAC74A8=5>A<0C8>=>==>=20B702C8E8C84B05542C8=620B75;>FB

-=:;DAADL>C<I67A:EG:H:CIH;>C6C8:A:6H:76A6C8:H

A=4

>CB>AA>DCH /:/<13(633B!7<3B3; "/@16 "/@16

+(.;>C6C8:A:6H:6HH:IH )GDE:GIN6C9FJ>EB:CIC:I    

>C6C8:A:6H: ,=DGII:GB9:7I6C98JGG:CIB6IJG>I>:HD;ADC<

I:GB9:7I    

>C6C8:A:6H: %DC<I:GB9:7IC:ID;8JGG:CIB6IJG>I>:H   

-DI6A;>C6C8:A:6H:A>67>A>I>:H    

*44&>C4JM41CN5>A5DAC74A8=5>A<0C8>=>=58=0=24;40B4;8018;8C84B

-=:L:><=I:96K:G6<:;>C6C8:A:6H:I:GBL6HN:6GH6C9N:6GH6HD;&6G8=6C9&6G8=

G:HE:8I>K:AN-=:L:><=I:96K:G6<:;>C6C8:A:6H:9>H8DJCIG6I:L6H6C96HD;&6G8=6C9&6G8=

G:HE:8I>K:AN



-=:;DAADL>C<B6IJG>IN6C6ANH>HEG:H:CIH:ME:8I:9JC9>H8DJCI:986H=E6NB:CIH;DG;>C6C8:A:6H:H6HD;&6G8=

7A1/:.3/@

>CB>AA>DCH      )63@3/4B3@ )=B/:

>C6C8:A:6H:E6NB:CIH              

%:HH>BEJI:9>CI:G:HI  

-DI6A;>C6C8:A:6H:A>67>A>I>:H  

#=B33@7D/B7D3<AB@C;3<BA

"CI=:CDGB6A8DJGH:D;7JH>C:HHI=:DBE6CN>H:MEDH:9ID>CI:G:HIG6I:6C9;DG:><C:M8=6C<:G6I:;AJ8IJ6I>DCHHE6GI

D;>IHG>H@B6C6<:B:CIHIG6I:<NI=:DBE6CNJH:H9:G>K6I>K:>CHIGJB:CIHEG>B6G>AN;DG:><C8JGG:C8N;DGL6G98DCIG68IH

6C9>CI:G:HIG6I:HL6EHID=:9<:8:GI6>C;DG:><C8JGG:C8N6C9>CI:G:HIG6I::MEDHJG:H-=:DBE6CNTHD7?:8I>K:>HID

G:9J8::6GC>C<HKDA6I>A>IN7ND;;H:II>C<<6>CH6C9ADHH:HG:HJAI>C<;GDBI=:H::MEDHJG:HL>I=ADHH:H6C9<6>CHDCI=:

9:G>K6I>K:8DCIG68IHJH:9ID=:9<:I=:B-=:DBE6CN9D:HCDIJH:9:G>K6I>K:>CHIGJB:CIH;DGIG69>C<DG6CNHE:8JA6I>K:

EJGEDH:H

-:1>)<1>-;-;1/6)<-,.7:-,/-++7=6<16/

0B75;>F74364B

-=:DBE6CN=6H9:H><C6I:98:GI6>C;DG:><C8JGG:C8N;DGL6G98DCIG68IH6H86H=;ADL=:9<:HIDG:9J8:;DG:><C8JGG:C8N

G>H@G:A6I:9ID8:GI6>C"C9>6C+JE::9:CDB>C6I:9D7A><6I>DCH6C9;DG:86HI:9IG6CH68I>DCH-=:CDI>DC6A6BDJCIHD;;DG:><C

8JGG:C8N;DGL6G98DCIG68IH9:H><C6I:96H86H=;ADL=:9<:H6HD;&6G8=6C9&6G8=L:G:B>AA>DC

6C9B>AA>DCG:HE:8I>K:ANHD;&6G8=I=:G:A6I:9;DG:86HI:9IG6CH68I>DCH:MI:C9I=GDJ<=:8:B7:G

DGI=:;>H86AN:6GH:C9:9&6G8=6C9&6G8=G:HE:8I>K:ANI=:DBE6CN=69CD86H=;ADL=:9<:H;DG

L=>8=>IL6HEGD767A:I=6II=:=:9<:9IG6CH68I>DCLDJA9CDID88JG

,::'DI:U,ID8@=DA9:GHFJ>INV;DG8=6C<:H>C688JBJA6I:9DI=:G8DBEG:=:CH>K:ADHHC:ID;I6M:HG:A6I:9IDI=:

DBE6CNTH9:G>K6I>K:H9:H><C6I:9;DG=:9<:688DJCI>C<HD;&6G8=B>AA>DCD;ADHHG:A6I:9IDI=:86H=;ADL

=:9<:G:EDGI:9>C688JBJA6I:9DI=:G8DBEG:=:CH>K:ADHH>H:ME:8I:9ID7:G:8A6HH>;>:9>CID:6GC>C<HL>I=>CI=:C:MI

BDCI=H

-:1>)<1>-;7<-;1/6)<-,7:-,/-++7=6<16/

-=:9:G>K6I>K:>CHIGJB:CIHCDI9:H><C6I:96H=:9<:H;DGEJGEDH:HD;=:9<:688DJCI>C<>C8AJ9:8:GI6>CH=DGII:GB;DG:><C

8JGG:C8N;DGL6G98DCIG68IH:G>K6I>K:HI=6I6G:CDI9:H><C6I:96H=:9<>C<>CHIGJB:CIH6G:69?JHI:9ID;6>GK6AJ:I=GDJ<=

:6GC>C<H>CI=:;>C6C8>6AHI6I:B:CIA>C:>I:BIDL=>8=I=:9:G>K6I>K:G:A6I:H

>A486=2DAA4=2H5>AF0A32>=CA02CB

-=:DBE6CNB6C6<:HI=::MEDHJG:ID;AJ8IJ6I>DCH>C;DG:><C8JGG:C8>:H7NJH>C<;DG:><C8JGG:C8N;DGL6G98DCIG68IHID

=:9<:8:GI6>C;DG:><C8JGG:C8N9:CDB>C6I:96HH:IH6C9A>67>A>I>:H>C8AJ9>C<>CI:G8DBE6CN688DJCIH6C9;DG:86HI:9

IG6CH68I>DCH-=:C:ICDI>DC6A6BDJCIHD;I=:;DG:><C8JGG:C8N;DGL6G98DCIG68IHDJIHI6C9>C<6HD;&6G8=6C9

&6G8=L6H7>AA>DC6C97>AA>DCG:HE:8I>K:AN



-=:;DAADL>C<I67A:EG:H:CIHI=:;DG:><C8JGG:C8N<6>CADHHID(I=:G:ME:CH:>C8DB:C:I

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16 "/@16

DG:><C8JGG:C8NG:B:6HJG:B:CI      

.C9:H><C6I:9;DG:><C8JGG:C8N;DGL6G98DCIG68IH     

-DI6ADG:><C8JGG:C8N<6>C      



%>E4<4=CB5A><4G270=64A0C4B>=C74><?0=HLB5>A486=2DAA4=2H34=><8=0C430BB4CB0=3;8018;8C84B

%>E4<4=CB5A><74364BDB43C><0=064C74><?0=HLB5>A486=2DAA4=2HA4<40BDA4<4=C4G?>BDA40=3C740BB>280C432>BCB>5C7474368=6

?A>6A0<

)1:&)4=-7.-:1>)<1>-6;<:=5-6<;

AA9:G>K6I>K:>CHIGJB:CIH6G:G:8DG9:96I;6>GK6AJ:-=:DBE6CNTH688DJCI>C<IG:6IB:CI;DGI=:H:9:G>K6I>K:>CHIGJB:CIH

>H76H:9DC>IH=:9<:9:H><C6I>DC-=:;DAADL>C<I67A:HEG:H:CII=:;6>GK6AJ:HD;9:G>K6I>K:>CHIGJB:CIH>C8AJ9:9>CI=:

76A6C8:H=::IH

A=4

>CB>AA>DCH /:/<13(633B!7<3B3; "/@16 "/@16

4A8E0C8E4B34B86=0C435>A74364022>D=C8=6

DG:><C8JGG:C8N;DGL6G9

8DCIG68IH (I=:G8JGG:CI6HH:IH    

88GJ:9:ME:CH:H6C9DI=:G8JGG:CIA>67>A>I>:H    

4A8E0C8E4B=>C34B86=0C435>A74364022>D=C8=6

DG:><C8JGG:C8N;DGL6G9

8DCIG68IH (I=:G8JGG:CI6HH:IH    

88GJ:9:ME:CH:H6C9DI=:G8JGG:CIA>67>A>I>:H    

-=:;6>GK6AJ:D;;DG:><C8JGG:C8N;DGL6G98DCIG68IHG:EG:H:CIHI=::HI>B6I:96BDJCIG:FJ>G:9IDH:IIA:I=:8DCIG68IHJH>C<

8JGG:CIB6G@:I:M8=6C<:G6I:H6C9>H76H:9DCI=:E:G>D9:C9;DG:><C8JGG:C8N:M8=6C<:G6I:H6C9;DGL6G9ED>CIHI=6I

6G:8A6HH>;>:96H%:K:A>CEJIH

<0-:"1;3;.7:-:1>)<1>-6;<:=5-6<;

-=:DBE6CN>H:MEDH:9IDI=:G>H@D;ADHH:H>CI=::K:CID;CDCE:G;DGB6C8:7NI=:8DJCI:GE6GI>:HID>IH9:G>K6I>K:

8DCIG68IH-=:6BDJCIHJ7?:8IID8G:9>IG>H@G:A6I:9ID9:G>K6I>K:>CHIGJB:CIH>H<:C:G6AANA>B>I:9IDI=:6BDJCI>;6CN7N

L=>8=68DJCI:GE6GINHD7A><6I>DCH:M8::9I=:D7A><6I>DCHD;I=:DBE6CNL>I=I=6I8DJCI:GE6GIN-DB>I><6I:8DJCI:GE6GIN

8G:9>IG>H@I=:DBE6CNG:<JA6GANG:K>:LH>IH8G:9>I:MEDHJG:6C9I=:8G:9>ILDGI=>C:HHD;I=:8DJCI:GE6GI>:H0>I=G:HE:8I

ID>IH;DG:><C8JGG:C8N9:G>K6I>K:H6HD;&6G8=I=:G:L:G:I=G::8DJCI:GE6GI>:HL>I=8DC8:CIG6I>DCD;8G:9>IG>H@

6C976H:9DC<GDHH;6>GK6AJ:I=:B6M>BJB6BDJCID;ADHHI=6II=:DBE6CN8DJA9>C8JG>H>BB6I:G>6A

-=:DBE6CN6AHD:CI:GH>CID:C;DG8:67A:B6HI:GC:II>C<6GG6C<:B:CIHL>I=HDB:D;>IH8DJCI:GE6GI>:H!DL:K:G;DG

;>C6C8>6AG:EDGI>C<EJGEDH:H>I>HI=:DBE6CNHEDA>8NCDIIDD;;H:I9:G>K6I>K:6HH:IH6C9A>67>A>I>:H9:HE>I:I=::M>HI:C8:

D;:C;DG8:67A:B6HI:GC:II>C<6GG6C<:B:CIH-=:EDI:CI>6A:;;:8ID;HJ8=C:II>C<6GG6C<:B:CIHDCI=:DBE6CNH76A6C8:

H=::IH>HCDIB6I:G>6A;DGI=:E:G>D9HEG:H:CI:9

76-:1>)<1>-16)6+1)46;<:=5-6<;-;1/6)<-,.7:-,/-++7=6<16/

-=:DBE6CN6EEA>:H=:9<:688DJCI>C<;DG;DG:><C8JGG:C8N9:CDB>C6I:99:7IJH:9IDB6C6<:;DG:><C8JGG:C8N

:MEDHJG:HDC>IHC:I>CK:HIB:CIH>C8:GI6>CCDC.,DE:G6I>DCH-DFJ6A>;N;DG=:9<:688DJCI>C<I=:=:9<>C<>CHIGJB:CI

BJHI7:=><=AN:;;:8I>K:6IG:9J8>C<I=:G>H@;GDBI=::MEDHJG:7:>C<=:9<:9



&4C!=E4BC<4=C 4364B

1H::@HIDG:9J8:I=:>BE68ID;;AJ8IJ6I>DCH>C;DG:><C:M8=6C<:G6I:HDC>IHC:I>CK:HIB:CIH>C8:GI6>CCDC.,

DE:G6I>DCHL>I=;DG:><C8JGG:C8N9:CDB>C6I:99:7IDG;DG:><C8JGG:C8N9:CDB>C6I:99:7I9:H><C6I:96H6=:9<:I=:

:;;:8I>K:C:HHD;I=:=:9<:>H6HH:HH:976H:9DC8=6C<:H>CHEDIG6I:HDGFJ6A>;N>C<C:I>CK:HIB:CI=:9<:H6AA<6>CHDG

ADHH:HDCI=:=:9<>C<>CHIGJB:CIH6G:>C8AJ9:9>C8JGG:C8NIG6CHA6I>DC 6>CHDGADHH:HDC>C9>K>9J6AC:I>CK:HIB:CIH>C

CDC.,DE:G6I>DCH6G:G:8A6HH>;>:9ID:6GC>C<H;GDB688JBJA6I:9DI=:G8DBEG:=:CH>K:ADHHL=:CHJ8=C:I>CK:HIB:CIH

6G:HDA9DGHJ7HI6CI>6AANA>FJ>96I:9

HD;&6G8=6C9&6G8=1=69B>AA>DCG:HE:8I>K:AND;;DG:><C8JGG:C8N9:CDB>C6I:99:7I

9:H><C6I:96H=:9<:HD;C:I>CK:HIB:CIH>CCDC.,HJ7H>9>6G>:HDGI=:;>H86AN:6G:C9:9&6G8=I=:EG:I6M

>BE68ID;ADHHDC;DG:><C8JGG:C8N9:CDB>C6I:99:7I9:H><C6I:9;DG=:9<:688DJCI>C<G:8D<C>O:9>CDI=:G8DBEG:=:CH>K:

>C8DB:ADHHL6H>BB6I:G>6A

#=B3%@=>3@BG/<2?C7>;3<B

)GDE:GIN6C9:FJ>EB:CI8DCH>HI:9D;I=:;DAADL>C<

A=4

>CB>AA>DCH "/@16 "/@16

)GDE:GIN6C9:FJ>EB:CIS<GDHH

%6C97J>A9>C<H6C9A:6H:=DA9>BEGDK:B:CIH    

DBEJI:GH6C9G:A6I:9:FJ>EB:CI    

JGC>IJG:6C9DI=:G:FJ>EB:CI   

DCHIGJ8I>DC>CEGD<G:HH   

   

%:HH688JBJA6I:99:EG:8>6I>DC    

)GDE:GIN6C9:FJ>EB:CIC:I    

:EG:8>6I>DC:ME:CH:;DG;>H86A6C9L6HB>AA>DCB>AA>DC6C9B>AA>DCG:HE:8I>K:AN



#=B3<B/<570:3AA3BA

"CI6C<>7A:6HH:IH8DCH>HI:9D;I=:;DAADL>C<

A=4"/@16 A=4"/@16

>CB>AA>DCH

@=AA

/@@G7<5+/:C3

11C;C:/B32

;=@B7H/B7=<

#3B/@@G7<5

+/:C3

@=AA

/@@G7<5+/:C3

11C;C:/B32

;=@B7H/B7=<

#3B/@@G7<5

+/:C3

,D;IL6G:            

JHIDB:GG:A6I:9>CI6C<>7A:

6HH:IH            

(I=:G>CI6C<>7A:6HH:IH            

-DI6A>CI6C<>7A:6HH:IH            

-=:8DBEDC:CIHD;6BDGI>O6I>DC:ME:CH:L:G:6H;DAADLH

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16 "/@16

"CI6C<>7A:6HH:I6BDGI>O6I>DC      

-G6CH>I>DC6C9IG6CH;DGB6I>DC8DCIG68I8DHI6BDGI>O6I>DC     

-DI6A6BDGI>O6I>DC:ME:CH:      



 +A0=B8C8>=0=3CA0=B5>A<0C8>=2>=CA02C2>BCB0A48=2;D343F8C78=>C74A0BB4CB>=C7410;0=24B744C

HI>B6I:9;JIJG:>CI6C<>7A:6HH:I6BDGI>O6I>DC6HD;&6G8=>H6H;DAADLH

>H86A2:6G >CB>AA>DCH

  

 

 

 

 

-=:G:6;I:G 

-DI6 A  



#=B3==2E7::

-=:;DAADL>C<I67A:HHJBB6G>O:I=:8=6C<:H>CI=:86GGN>C<6BDJCIHD;<DD9L>AA7NH:<B:CI;DGI=:;>H86AN:6GH:C9:9

&6G8=6C9&6G8=G:HE:8I>K:AN

>CB>AA>DCH ( ( )=B/:

6A6C8:6HD;&6G8=C:I    S  

>K:HI>IJG:H   S  

DG:><C8JGG:C8NIG6CHA6I>DC   S  

6A6C8:6HD;&6G8=C:I    S  

DD9L>AA<GDHH      

88JBJA6I:9>BE6>GB:CIADHH:H      

6A6C8:6HD;&6G8=C:I    S  

>CB>AA>DCH ( ( )=B/:

6A6C8:6HD;&6G8=C:I    S  

>K:HI>IJG:H   S  

DG:><C8JGG:C8NIG6CHA6I>DC   S  

6A6C8:6HD;&6G8=C:I    S  

DD9L>AA<GDHH      

88JBJA6I:9>BE6>GB:CIADHH:H      

6A6C8:6HD;&6G8=C:I    S  

>K:HI>IJG:H6G:9:H8G>7:9>C'DI:>K:HI>IJG:H-=:;DG:><C8JGG:C8NIG6CHA6I>DC6BDJCIG:;A:8IHI=:>BE68ID;

8JGG:C8NBDK:B:CIHDCCDC.,9DAA6G9:CDB>C6I:9<DD9L>AA76A6C8:H

77,?14458)1:5-6<6)4A;-;

DGI=:DBE6CNTH6CCJ6A<DD9L>AA>BE6>GB:CI6HH:HHB:CIE:G;DGB:96HD;#JANI=:DBE6CN8=DH:I=:DEI>DC

ID7NE6HHI=:>C>I>6AFJ6A>I6I>K:6HH:HHB:CIHI6<:6C9EGD8::99>G:8IANIDI=:FJ6CI>I6I>K:<DD9L>AA>BE6>GB:CII:HII=:

>BE6>GB:CI6C6ANH:HE:G;DGB:96HD;#JAN6C9L:G:E:G;DGB:9FJ6A>I6I>K:AN-=:6C6ANH:H;DG:68=D;I=:H:

;>H86AN:6GH9>9CDIG:HJAI>C6C>BE6>GB:CI8=6G<:II=::C9D;:68=;>H86AN:6GI=:DBE6CN6HH:HH:9L=:I=:GI=:G:

L:G::K:CIHDG8=6C<:H>C8>G8JBHI6C8:HI=6ILDJA9BDG:A>@:ANI=6CCDIG:9J8:I=:;6>GK6AJ:D;6CND;>IHG:EDGI>C<JC>IH

7:ADL>IH86GGN>C<6BDJCI6C9G:FJ>G:<DD9L>AAID7:I:HI:9;DG>BE6>GB:CI-=:DBE6CN9:I:GB>C:9I=6II=:G:=6K:

7::CCDHJ8=>C9>86IDGH6C9I=:G:;DG:>IL6HJCC:8:HH6GNIDE:G;DGB6C>CI:G>B<DD9L>AA>BE6>GB:CII:HI6HD;I=::C9

D;:68=G:HE:8I>K:;>H86AN:6G



#=B330B

-=:;DAADL>C<>H6HJBB6GND;I=:DBE6CNH9:7I

A=4

>CB>AA>DCH <B3@3AB'/B3A

7A1/:.3/@

"/BC@7B73A

"/@16



"/@16



(6=@BB3@;230B/<21C@@3<B;/BC@7B73A=4:=<5B3@;

230B

XB>AA>DC,:C>DGCDI:H      S

JGG:CIB6IJG>I>:HD;;>C6C8:A:6H:A>67>A>I>:H      

JGG:CIB6IJG>I>:HD;DI=:GADC<I:GB9:7I /6G>DJH     

,=DGII:GB9:7I6C98JGG:CIB6IJG>I>:HD;ADC<I:GB9:7I    

!=<5B3@;230B<3B=41C@@3<B;/BC@7B73A

XB>AA>DC,:C>DGCDI:H    S  

B>AA>DC,:C>DGCDI:H      

XB>AA>DC,:C>DGCDI:H      

B>AA>DC,:C>DGCDI:H      

XB>AA>DC,:C>DGCDI:H      

>C6C8:A:6H:A>67>A>I>:H     

DGGDL>C<H;DG6HH:IH68FJ>G:9JC9:GADC<I:GB;>C6C8>C<     

(I=:G7DGGDL>C<H /6G>DJH     S

%DC<I:GB9:7IC:ID;8JGG:CIB6IJG>I>:H    

-DI6A9:7I    



+7420AAH8=60<>D=CB>5C74B4=8>A=>C4B0B>5%0A270=3%0A278=2;D34C74A4<08=8=6?A8=28?0;>DCBC0=38=6>5

<8;;8>=0=3<8;;8>=A4B?42C8E4;H=4C>5C>C0;D=0<>AC8I43341C38B2>D=CB0=3?A4<8D<B0=33454AA43341C8BBD0=24

2>BCB>5<8;;8>=0=3<8;;8>=A4B?42C8E4;H

)1:&)4=-7.-*<

-=::HI>B6I:9;6>GK6AJ:D;I=:DBE6CNHADC<I:GB9:7I:M8AJ9>C<;>C6C8:A:6H:A>67>A>I>:HL6H7>AA>DC6HD;7DI=

&6G8=6C9&6G8=G:HE:8I>K:AN6H8DBE6G:9L>I=I=:86GGN>C<K6AJ:D;7>AA>DC6C97>AA>DC6H

D;&6G8=6C9&6G8=G:HE:8I>K:AN";B:6HJG:96I;6>GK6AJ:ADC<I:GB9:7I:M8AJ9>C<;>C6C8:A:6H:

A>67>A>I>:HLDJA97:8A6HH>;>:96H%:K:ADG%:K:AL>I=>CI=:;6>GK6AJ:=>:G6G8=N

=<=:-)<=:1<1-;7.-*<

JIJG:B6IJG>I>:HD;9:7I:M8AJ9>C<;>C6C8:A:6H:A>67>A>I>:H;DG;>H86AN:6GH6;I:G&6G8=6G:6H;DAADLH

7A1/:.3/@ >CB>AA>DCH

  

 

 

 

 

-=:G:6;I:G 

-DI6 A  



#=B3'3D3<C3

"->-6=-"-+7/61<176

-=:;DAADL>C<I67A:EG:H:CIH1HG:K:CJ:H9>H6<<G:<6I:97N<:D<G6E=N76H:9DCI=:AD86I>DCD;>C8DGEDG6I>DCD;I=:

1:CI>INEGDK>9>C<I=:G:A6I:9<DD9HDGH:GK>8:H

)E3:D3"=<B6A<232

>CB>AA>DCH "/@16 "/@16 "/@16

.C>I:9,I6I:H      

.C>I:9$>C<9DB      

(I=:GJGDE:      

JHIG6A>6      

(I=:G"CI:GC6I>DC6A      

-DI6A+:K:CJ:H      

-=:G:K:CJ:7N<:D<G6E=NE:GI6>CHID7DI=D;I=:DBE6CNTHG:EDGI67A:H:<B:CIH+:;:GID'DI:,:<B:CI6C9

:D<G6E=>8"C;DGB6I>DC;DGI=:DBE6CNTHH:<B:CI9>H8ADHJG:H

"-5)1616/!-:.7:5)6+- *41/)<176;

+:B6>C>C<E:G;DGB6C8:D7A><6I>DCHG:EG:H:CII=:6<<G:<6I:6BDJCID;I=:IG6CH68I>DCEG>8:>C8DCIG68IH6AAD86I:9ID

E:G;DGB6C8:D7A><6I>DCHCDI9:A>K:G:9DGE6GI>6AANJC9:A>K:G:96HD;I=::C9D;I=:G:EDGI>C<E:G>D9+:B6>C>C<

E:G;DGB6C8:D7A><6I>DC:HI>B6I:H6G:HJ7?:8IID8=6C<:6C96G:6;;:8I:97NH:K:G6A;68IDGH>C8AJ9>C<I:GB>C6I>DCH

8=6C<:H>CI=:H8DE:D;8DCIG68IHE:G>D9>8G:K6A>96I>DCH69?JHIB:CIH;DGG:K:CJ:I=6I=6HCDIB6I:G>6A>O:96C9

69?JHIB:CIH;DG8JGG:C8NHD;&6G8=6EEGDM>B6I:AN7>AA>DCD;G:K:CJ:>H:ME:8I:9ID7:G:8D<C>O:9;GDB

G:B6>C>C<E:G;DGB6C8:D7A><6I>DCH-=:DBE6CN:ME:8IHIDG:8D<C>O:G:K:CJ:DC6EEGDM>B6I:AND;I=:H:

G:B6>C>C<E:G;DGB6C8:D7A><6I>DCH>C;>H86AL>I=I=:G:B6>C9:GD;I=:76A6C8:G:8D<C>O:9I=:G:6;I:G

76<:)+<)4)6+-;

-=:;DAADL>C<I67A:EGDK>9:H>C;DGB6I>DC67DJII=:76A6C8:HD;I=:DBE6CNHIG69:G:8:>K67A:H6C98DCIG68I6HH:IH6C9

8DCIG68IA>67>A>I>:H

A=4

>CB>AA>DCH /:/<13(633B!7<3B3; "/@16 "/@16

-G69:G:8:>K67A:HC:I

+:8:>K67A:H6C98DCIG68I6HH:IHC:ID;

6AADL6C8:;DG9DJ7I;JA688DJCIH    

DCIG68I6HH:IH

+:8:>K67A:H6C98DCIG68I6HH:IHC:ID;

6AADL6C8:;DG9DJ7I;JA688DJCIH    

DCIG68IA>67>A>I>:H

:;:GG:9G:K:CJ:6C969K6C8:8DCIG68I

E6NB:CIH6C9'DC8JGG:CI9:;:GG:9G:K:CJ:    

=6C<:>C8DCIG68IA>67>A>I>:HL:G:6H;DAADLH

>CB>AA>DCH

)E3:D3"=<B6A<232

"/@16

)E3:D3"=<B6A<232

"/@16

6A6C8:7:<>CC>C<D;E:G>D9    

:;:GG:9G:K:CJ:   

+:8D<C>I>DCD;9:;:GG:9G:K:CJ:   

JGG:C8NIG6CHA6I>DC69?JHIB:CI   

(I=:G   

6A6C8::C9D;E:G>D9    



-=:;DAADL>C<I67A:HEGDK>9:H>C;DGB6I>DC67DJII=:DBE6CNTH86E>I6A>O:98DHIHIDD7I6>C6C9;JA;>AA68DCIG68I

A=4

>CB>AA>DCH "/@16 "/@16

6E>I6A>O:9H6A:H8DBB>HH>DC8DHIH    

-G6CH>I>DC6C9IG6CH;DGB6I>DC8DCIG68I8DHIHC:I    

BDGI>O6I>DC:ME:CH:D;86E>I6A>O:9H6A:H8DBB>HH>DC6C9IG6CH>I>DC6C9IG6CH;DGB6I>DC8DCIG68I8DHIHL:G:6H;DAADLH

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16 "/@16

6E>I6A>O:9H6A:H8DBB>HH>DC8DHIH6BDGI>O6I>DC      

-G6CH>I>DC6C9IG6CH;DGB6I>DC8DCIG68I8DHI6BDGI>O6I>DC      



 0?8C0;8I43B0;4B2><<8BB8>=2>BCB0A48=2;D343F8C78=>C74A0BB4CB8=C74022><?0=H8=610;0=24B744CB0=30<>AC8I0C8>=4G?4=B4

A4;0C43C>C7420?8C0;8I43B0;4B2><<8BB8>=0BB4CB0A48=2;D3438=B4;;8=664=4A0;0=303<8=8BCA0C8E44G?4=B4B8=C74022><?0=H8=6

BC0C4<4=CB>5>?4A0C8>=B

 +A0=B8C8>=0=3CA0=B5>A<0C8>=2>=CA02C2>BCB=4CA45;42CC74><?0=HLBB4CD?2>BCB8=2DAA43D?>=8=8C80C8>=>50=>DCB>DA28=62>=CA02C

0=30A48=2;D343F8C78=>C74A0BB4CB8=C74022><?0=H8=610;0=24B744CB0=30<>AC8I0C8>=4G?4=B40A48=2;D343F8C78=34?A4280C8>=

0=30<>AC8I0C8>=8=C74022><?0=H8=6BC0C4<4=CB>5>?4A0C8>=B



#=B3'3AB@C1BC@7<5=ABA

-=:DBE6CNG:8DG9:9G:HIGJ8IJG>C<8DHIHC:ID;G:K:GH6AHD;B>AA>DCB>AA>DC6C9B>AA>DC;DG;>H86A

6C9G:HE:8I>K:AN-=:8DHIHG:8DG9:99JG>C<;>H86AL:G:A6G<:ANI=:G:HJAID;>BEA:B:CI>C<I=:>H86A

)A6C6H9:H8G>7:97:ADL

-=:8DBEDH>I>DCD;G:HIGJ8IJG>C<A>67>A>I>:H7N;>C6C8>6AHI6I:B:CIA>C:>I:BH>H6H;DAADLH

A=4

>CB>AA>DCH "/@16 "/@16

88GJ:9:ME:CH:H6C9DI=:G8JGG:CIA>67>A>I>:H    

(I=:GADC<I:GBA>67>A>I>:H   

-DI6 A    

#=55):A7."-;<:=+<=:16/!4)6;

8B20;(;0=

JG>C<;>H86AB6C6<:B:CI6EEGDK:9<AD76A8DHIH6K>C<H>C>I>6I>K:H9:H><C:9ID7:II:G6A><CI=:DBE6CNTH

LDG@;DG8:;68>A>I>:H6C996I68:CI:GHI=:U>H86A)A6CV

+:HIGJ8IJG>C<68I>K>I>:HHJBB6G>O:97NEA6CN:6GL:G:6H;DAADLH

'3AB@C1BC@7<5

!7/07:7BG/A=4

"/@16

=ABA

F>3<A32

#3B=4

'3D3@A/:A

=ABA#=B

4431B7<5

'3AB@C1BC@7<5

!7/07:7BG /A6%/72 $B63@

'3AB@C1BC@7<5

!7/07:7BG/A=4

"/@16

>H86A)A6C

0DG@;DG8:+:9J8I>DCH  S        S  

68>A>I>:HDHIH S          S

S          

>H86A)A6C

0DG@;DG8:+:9J8I>DCH    S  S      S

68>A>I>:HDHIH         S  S

          S

(I=:G)G>DG2:6G6C98FJ>G:9

)A6CH

0DG@;DG8:+:9J8I>DCH      S    S  

68>A>I>:HDHIH           

          

-DI6A            



(4=B8>=14=458C0D6<4=C0C8>=BA42>A3430B?4=B8>=;8018;8C84B0BB4C8<?08A<4=CB0=3A4BCAD2CDA8=62>BCB0BB>280C43F8C7A867C>5DB4

0BB4CB

>A486=2DAA4=2HCA0=B;0C8>=039DBC<4=CB

"C8AJ9:9>CG:HIGJ8IJG>C<8DHIH;DG;>H86A>HB>AA>DCG:A6I:9ID6BDGI>O6I>DCD;I=:G><=ID;JH:6HH:I6C9>CI:G:HI

:ME:CH:;DGA:6H:9;68>A>I>:HI=6I=6K:7::CK686I:97JI6G:7:>C<68I>K:ANB6G@:I:9;DGHJ7A:6H:DGL:6G:>CC:<DI>6I>DCH

L>I=I=:A6C9ADG9IDEDI:CI>6AANI:GB>C6I:DGBD9>;NI=DH:A:6H:H



#=B3%3<A7=</<2$B63@3<347B%:/<A

-=:DBE6CND;;:GH6CJB7:GD;E:CH>DC6C9()EA6CHA>;:>CHJG6C8:7:C:;>IH9:;:GG:98DBE:CH6I>DC6C99:;>C:9

8DCIG>7JI>DCEA6CH&DHID;I=:DBE6CNHE:CH>DCEA6CH6G:CDI69B>II>C<C:LE6GI>8>E6CIHI=:G:;DG:8=6C<:HID

E:CH>DCA>67>A>I>:H6G:EG>B6G>AN9J:IDB6G@:I;AJ8IJ6I>DCHD;>CK:HIB:CIH;DG:M>HI>C<E6GI>8>E6CIH6C98=6C<:H>C>CI:G:HI

G6I:H

-.16-,-6-.1<!4)6;

-=:DBE6CNHEDCHDGH6CJB7:GD;9:;>C:97:C:;>I6C9EDHIG:I>G:B:CIB:9>86A7:C:;>IEA6CH;DGI=:7:C:;>ID;:A><>7A:

:BEADN::H-=:7:C:;>ID7A><6I>DCHD;I=:DBE6CNH.,E:CH>DC.,()6C9CDC.,()EA6CHG:EG:H:CI6C

>CH><C>;>86CIEDGI>DCD;I=:DBE6CNHE:CH>DC6C9DI=:GEDHIG:I>G:B:CI7:C:;>IEA6CHH6G:HJAII=:9>H8ADHJG:H7:ADL

>C8AJ9:I=:DBE6CNH.,6C9CDC.,E:CH>DC6C9()EA6CHDC6<AD76A8DCHDA>96I:976H>H

A><>7A::BEADN::H6G::CGDAA:9>C9:;>C:97:C:;>IE:CH>DCEA6CH>CI=:>G8DJCIGND;9DB>8>A:-=:9:;>C:97:C:;>IE:CH>DC

EA6CH>CI=:.$G:EG:H:CIHI=:A6G<:HIEA6CH"C699>I>DC=:6AI=86G:9:CI6A6C9A>;:>CHJG6C8:7:C:;>IH6G:6AHDEGDK>9:9

ID8:GI6>CCDC.,:BEADN::HH><C>;>86CICJB7:GD;:BEADN::HDJIH>9:I=:.C>I:9,I6I:H6G:8DK:G:97N<DK:GCB:CI

HEDCHDG:9EGD<G6BH6ICD9>G:8I8DHIIDI=:DBE6CNDI=:GI=6CG:A6I:9E6NGDAAI6M:H

JG>C<;>H86AE:CH>DCIGJHI::H6C9I=:DBE6CNIDD@68I>DCHIDG:9J8:I=:KDA6I>A>IND;69:;>C:97:C:;>IE:CH>DC

EA6C>CI=:.$>C8AJ9>C<:CI:G>C<>CIDE:CH>DCG>H@IG6CH;:GIG6CH68I>DCH>CKDAK>C<I=:EJG8=6H:D;6CCJ>IN8DCIG68IH;DG

EDGI>DCHD;>IHDJIHI6C9>C<9:;>C:97:C:;>IE:CH>DCD7A><6I>DCHJH>C<6HH:IH;GDBI=:E:CH>DCIGJHI"C8DCC:8I>DCL>I=I=>H

IG6CH68I>DCI=:E:CH>DCIGJHI::HIG6CH;:GG:97>AA>DCD;<GDHH9:;>C:97:C:;>IE:CH>DCD7A><6I>DCH6C9G:A6I:9EA6C

6HH:IHID6C>CHJG6C8:8DBE6CN;DG6EEGDM>B6I:AN.$EA6CE6GI>8>E6CIH"C699>I>DCI=:DBE6CNG:8D<C>O:96

CDC86H=E:CH>DCH:IIA:B:CI8=6G<:D;B>AA>DCL=>8=>C8AJ9:HI=:688:A:G6I:9G:8D<C>I>DCD;EG>DGH:GK>8:8G:9>II=6I

L6H>C8AJ9:9>C688JBJA6I:9DI=:G8DBEG:=:CH>K:ADHH-=>HIG6CH68I>DC>H>GG:KD867A:6C96H6G:HJAID;I=:IG6CH68I>DC

I=:E:CH>DCIGJHI::H6C9I=:DBE6CNL:G:G:A>:K:9D;6AAG:HEDCH>7>A>IN;DGI=:G:A6I:9E:CH>DCD7A><6I>DCH6C9I=:

>CHJG6C8:8DBE6CN>HCDLG:FJ>G:9IDE6N6C969B>C>HI:GI=:G:I>G:B:CI7:C:;>IH

-=:8=6C<:>CEGD?:8I:97:C:;>ID7A><6I>DC;DG;>H86AN:6G>HEG>B6G>ANG:A6I:9ID>CI:G:HI8DHI7:C:;>IHE6>96C9

68IJ6G>6A<6>CH8IJ6G>6A<6>CHL:G:EG>B6G>AN9J:ID9>H8DJCIG6I:>C8G:6H:H>CI=:.$

!:72-+<-,-6-.1< *41/)<176;

A=4

>CB>AA>DCH "/@16 "/@16

)GD?:8I:97:C:;>ID7A><6I>DC6I7:<>CC>C<D;N:6G    

,:GK>8:8DHI   

"CI:G:HI8DHI   

)A6CE6GI>8>E6CIHT8DCIG>7JI>DCH   

B:C9B:CIH   

JH>C:HH8DCIG68I68FJ>H>I>DCH9>K:HI>IJG:H S  

,:IIA:B:CI8JGI6>AB:CI   

8IJ6G>6A<6>CADHH   

:C:;>IHE6>9   

DG:><C8JGG:C8N:M8=6C<:G6I:8=6C<:H   

(I=:G   

)GD?:8I:97:C:;>ID7A><6I>DC6I:C9D;N:6G    



-=:;DAADL>C<I67A:HJBB6G>O:HI=:L:><=I:96K:G6<:G6I:HJH:9>CI=:9:I:GB>C6I>DCD;I=:DBE6CNTH7:C:;>I

D7A><6I>DCH

7A1/:.3/@A<232

"/@16 "/@16

>H8DJCIG6I:  

+6I:HD;>C8G:6H:>C8DBE:CH6I>DCA:K:AH  

"CI:G:HIG:9>I>C<+6I:  

)1:&)4=-7.!4)6;;-<;)6,=6,-,#<)<=;

A=4

8=<8;;8>=B "/@16 "/@16

6>GK6AJ:D;EA6C6HH:IH6I7:<>CC>C<D;N:6G    

8IJ6AG:IJGCDCEA6C6HH:IH   

BEADN:G8DCIG>7JI>DC   

)A6CE6GI>8>E6CIHT8DCIG>7JI>DCH   

:C:;>IHE6>9   

DCIG68IJ6AI:GB>C6I>DC7:C:;>IH S  

)A6CH:IIA:B:CI   

DG:><C8JGG:C8N:M8=6C<:G6I:8=6C<:H   

(I=:G   

6>GK6AJ:D;EA6C6HH:IH6I:C9D;N:6G    

JC9:9HI6IJH6I:C9D;N:6G    

#-4-+<-,6.7:5)<176

A=4

>CB>AA>DCH "/@16 "/@16

(I=:G6HH:IH    

88GJ:9:ME:CH:H6C9DI=:G8JGG:CIA>67>A>I>:H  

'DC8JGG:CIE:CH>DCD7A><6I>DCH  

(I=:GADC<I:GBA>67>A>I>:H()  

':I6BDJCIG:8DG9:9    

88JBJA6I:97:C:;>ID7A><6I>DC    

3<347B%:/<AE7B6%@=831B32

3<347B$0:75/B7=<7<F13AA=4

%:/<AA3BA

3<347B%:/<AE7B611C;C:/B32

3<347B$0:75/B7=<7<F13AA=4

%:/<AA3BA

>CB>AA>DCH "/@16 "/@16 "/@16 "/@16

)GD?:8I:97:C:;>ID7A><6I>DC        

88JBJA6I:97:C:;>ID7A><6I>DC        

6>GK6AJ:D;EA6C6HH:IH        



-<!-:17,1+!-6;1767;<

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16 "/@16

,:GK>8:8DHI      

"CI:G:HI8DHI    

ME:8I:9G:IJGCDC6HH:IH    

BDGI>O6I>DCD;EG>DGH:GK>8:8G:9>I    

,J7IDI6A     

,:IIA:B:CI8JGI6>AB:CI<6>CADHH S   

+:8D<C>I>DCD;68IJ6G>6A<6>CADHH    

':IE:G>D9>8E:CH>DC>C8DB::ME:CH:      

-=:H:GK>8:8DHI8DBEDC:CID;C:IE:G>D9>8E:CH>DC>C8DB::ME:CH:>HEG:H:CI:9>C8DHIHD;H:GK>8:H6C9H:AA>C<

<:C:G6A6C969B>C>HIG6I>K:6C9I=:DI=:G8DBEDC:CIHD;C:IE:G>D9>8E:CH>DC>C8DB::ME:CH:6G:EG:H:CI:9>CDI=:G

>C8DB::ME:CH:C:I>CI=:DBE6CNTHHI6I:B:CIHD;DE:G6I>DCH

-=:L:><=I:96K:G6<:G6I:HJH:9ID9:I:GB>C:C:IE:G>D9>8E:CH>DC8DHIL:G:

7A1/:.3/@A<232

"/@16 "/@16 "/@16

>H8DJCIDGH:IIA:B:CIG6I:H   

ME:8I:9ADC<I:GBG6I:HD;G:IJGCDC6HH:IH   

+6I:HD;>C8G:6H:>C8DBE:CH6I>DCA:K:AH   

"CI:G:HIG:9>I>C<+6I:   

-=:;DAADL>C<>H6HJBB6GND;6BDJCIH>C688JBJA6I:9DI=:G8DBEG:=:CH>K:ADHH7:;DG:I6M:;;:8IH

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16

)G>DGH:GK>8:8G:9>I    

;<15)<-,=<=:-76<:1*=<176;)6,-6-.1<;!)A5-6<;

>CB>AA>DCH

BEADN:G8DCIG>7JI>DCH

  

:C:;>I)6NB:CIH

  

 

 

 

 

6C9I=:G:6;I:G 

-DI6A  



)1:&)4=-7.!4)6;;-<;

-=:I67A:H7:ADLH:I;DGI=I=:;6>GK6AJ:D;EA6C6HH:IH7N6HH:I86I:<DGNL>I=>CI=:;6>GK6AJ:=>:G6G8=N

A=4"/@16

>CB>AA>DCH !3D3: !3D3: !3D3: )=B/:

FJ>IN

AD76A"CI:GC6I>DC6AFJ>IN

8DBB>C<A:9;JC9H      S  

.,'DGI=B:G>86CFJ>IN

8DBB>C<A:9;JC9H   S  S  

>M:9"C8DB:

'DC., DK:GCB:CI;JC9H     S  

>M:9>C8DB:8DBB>C<A:9;JC9H      S  

DGEDG6I:6C9DI=:G7DC9H     S  

AI:GC6I>K:H

(I=:GAI:GC6I>K:H  S      

!:9<:JC9H  S  S    

(I=:GHH:IH  S      

"CHJG6C8:8DCIG68IH  S    S  

6H=6C986H=:FJ>K6A:CIH      S  

-DI6AH

       

A=4"/@16

>CB>AA>DCH !3D3: !3D3: !3D3: )=B/:

FJ>IN

AD76A"CI:GC6I>DC6AFJ>IN

8DBB>C<A:9;JC9H      S  

.,'DGI=B:G>86CFJ>IN

8DBB>C<A:9;JC9H   S  S  

>M:9"C8DB:

'DC., DK:GCB:CI;JC9H  S    S  

>M:9>C8DB:8DBB>C<A:9;JC9H        

>M:9>C8DB:BJIJ6A;JC9H  S  S  S  S

DGEDG6I:6C9DI=:G7DC9H  S      

AI:GC6I>K:H

(I=:GAI:GC6I>K:H  S      

!:9<:JC9H  S      

(I=:GHH:IH        

"CHJG6C8:8DCIG68IH  S    S  

6H=6C986H=:FJ>K6A:CIH      S  

-DI6AH        



)4?A4B4=CBA40;4BC0C40=3>C74A2><<8=6;435D=3B2>=B8BC8=6<08=;H>54@D8C84B1>=3B>A2><<>38C84B

)4?A4B4=CB8=E4BC<4=CB8=38E4AB858435D=3>5743645D=3B



=6C<:H>C;6>GK6AJ:B:6HJG:B:CIHD;A:K:A>CK:HIB:CIH;DGI=:9:;>C:97:C:;>IEA6CHL:G:6H;DAADLH

>CB>AA>DCH

6A6C8:6HD;&6G8=  

8IJ6AG:IJGCDCEA6C6HH:IH=:A96II=:G:EDGI>C<96I: 

)JG8=6H:HH6A:H6C9H:IIA:B:CIH 

=6C<:H9J:ID:M8=6C<:G6I:H 

6A6C8:6HD;&6G8= 

8IJ6AG:IJGCDCEA6C6HH:IH=:A96II=:G:EDGI>C<96I: 

)JG8=6H:HH6A:H6C9H:IIA:B:CIH 

-G6CH;:GH>C6C9DGDJID;%:K:A 

=6C<:H9J:ID:M8=6C<:G6I:H 

6A6C8:6HD;&6G8=  

DB:HI>86C9<AD76A:FJ>IN688DJCIH6G:86I:<DG>O:96H%:K:A>;I=:H:8JG>I>:HIG69:DCC6I>DC6ADG>CI:GC6I>DC6A

:M8=6C<:H6C96G:K6AJ:96II=:>GA6HIG:EDGI:98ADH>C<EG>8:FJ>IN6HH:IH>C8DBB>C<A:9;JC9HG:EDGI>C<6C:I6HH:I

K6AJ:6G:86I:<DG>O:96H%:K:A6C9K6AJ:9JH>C<7GD@:G9:6A:G7>9HDGFJDI:HD;H:8JG>I>:HL>I=H>B>A6G8=6G68I:G>HI>8H

>M:9>C8DB:688DJCIH6G:86I:<DG>O:96H%:K:A>;IG69:9DC6EJ7A>8ANFJDI:9:M8=6C<:DG6HA:K:A>;>CK:HIB:CIH>C

8DGEDG6I:7DC9H6G:EG>B6G>AN>CK:HIB:CI<G69:7DC9H<:C:G6AANEG>8:9JH>C<BD9:A76H:9EG>8>C<B:I=D9HI=6IJH:

D7H:GK67A:B6G@:I96I66H>CEJIHGD@:G9:6A:G7>9HDGFJDI:HD;H:8JG>I>:HL>I=H>B>A6G8=6G68I:G>HI>8HB6N6AHD7:JH:9

AI:GC6I>K:>CK:HIB:CI;JC9H:8JG>I>:H6G:86I:<DG>O:96H%:K:A>;=:A9>C6BJIJ6A;JC9DG>C6H:E6G6I:688DJCI

HIGJ8IJG:6C968I>K:ANIG69:9I=GDJ<=6G:8D<C>O:9:M8=6C<:DG6H%:K:A>;I=:N6G:=:A9>C8DBB>C<A:9DG8DAA:8I>K:

688DJCIHIGJ8IJG:H6C96G:68I>K:ANIG69:9AI:GC6I>K:>CK:HIB:CI;JC9H:8JG>I>:H6G:8A6HH>;>:96H%:K:A>;I=:N6G:=:A9

>C%>B>I:9DBE6CNDG%>B>I:9)6GIC:GH=>EHIGJ8IJG:HDG86CCDIDI=:GL>H:7:8A6HH>;>:96H%:K:ADG%:K:A

(I=:G6HH:IHG:EG:H:CIEGDE:GIN=DA9>C<H7N8:GI6>CE:CH>DCEA6CHH67DK:I=:EGDE:GIN=DA9>C<HG:EG:H:CI6B6HI:G

A:6H:6GG6C<:B:CI:CI:G:9>CID7N1>CI=:.$6C98:GI6>C.$E:CH>DCEA6CH6H6;>C6C8>C<IG6CH68I>DC

"CHJG6C8:8DCIG68IHEJG8=6H:9ID8DK:G7:C:;>IHE6N67A:IDG:I>G::H6G:K6AJ:9JH>C<I=:6HHJBEI>DCHJH:9IDK6AJ:I=:

EGD?:8I:97:C:;>ID7A><6I>DC

6H=:FJ>K6A:CIHI=6I=6K:FJDI:9EG>8:H>C68I>K:B6G@:IH6G:8A6HH>;>:96H%:K:A,=DGII:GBBDC:NB6G@:I

8DBB>C<A:9;JC9H6G:86I:<DG>O:96H%:K:A6C9K6AJ:96I8DHIEAJH688GJ:9>CI:G:HIL=>8=6EEGDM>B6I:H;6>GK6AJ:

!4)6;;-<447+)<176;

A=4

AA3B/B35=@G "/@16 "/@16

FJ>INH:8JG>I>:H  

:7IH:8JG>I>:H  

AI:GC6I>K:H  

6H=6C9DI=:G  

-DI6 A  

)A6C6HH:IH6G:=:A9>C6IGJHII=6I>C8AJ9:H8DBB>C<A:9;JC9HHJ7?:8IID8DJCIGNHE:8>;>8G:<JA6I>DCH6C9>CK:HI:9

EG>B6G>AN>C8DBB>C<A:9;JC9HDGI=:.$E:CH>DCEA6CHI=:DBE6CNHA6G<:HIE:CH>DCEA6CH7N6HH:IH6C9EGD?:8I:9

A>67>A>I>:H6I6G<:I6AAD86I>DC7N6HH:I8A6HHL6H9:K:ADE:9ID68=>:K:I=:>GADC<I:GBD7?:8I>K:HHH:I6AAD86I>DCH6G:

BDC>IDG:98ADH:AN6C9>CK:HIB:CIG:K>:LHG:<6G9>C<6HH:IHIG6I:<N6G:8DC9J8I:9G:<JA6GANL>I=>CI:GC6A6C9:MI:GC6A

69K>HDGH



-=:DBE6CNTH>CK:HIB:CI<D6AH6C9G>H@B6C6<:B:CIHIG6I:<N;DGEA6C6HH:IH:K6AJ6I:H6CJB7:GD;;68IDGH>C8AJ9>C<

I=:I>B:=DG>ODCD;I=:EA6CHTD7A><6I>DCH)A6C6HH:IH6G:>CK:HI:9>CK6G>DJH6HH:I8A6HH:HI=6I6G::ME:8I:9IDEGD9J8:6

HJ;;>8>:CIA:K:AD;9>K:GH>;>86I>DC>CDG9:GIDG:9J8:G>H@N:IEGD9J8:H6G:6HDC67A:6BDJCID;G:IJGCDC>CK:HIB:CIDK:GI=:

ADC<I:GB,J;;>8>:CIA>FJ>9>IN>HB6>CI6>C:9IDB::I7:C:;>ID7A><6I>DCH6HI=:N7:8DB:9J:-=>G9E6GIN>CK:HIB:CI

B6C6<:GH6G::BEADN:9ID>CK:HI6HH:IH>C7DI=E6HH>K:AN>C9:M:96C968I>K:ANB6C6<:9HIG6I:<>:HFJ>I>:H6G:EG>B6G>AN

>CK:HI:97GD69AN>C9DB:HI>86C9;DG:><C8DBE6C>:H68GDHHB6G@:I86E>I6A>O6I>DCH6C9>C9JHIG>:H>M:9>C8DB:H:8JG>I>:H

6G:>CK:HI:97GD69ANEG>B6G>AN>C<DK:GCB:CIIG:6HJGN8DGEDG6I:8G:9>IBDGI<6<:768@:96C96HH:I768@:9>CK:HIB:CIH

AI:GC6I>K:>CK:HIB:CI6AAD86I>DCH6G:>C8AJ9:9>CH:A:8I:9EA6CHID68=>:K:<G:6I:GEDGI;DA>D9>K:GH>IN>CI:C9:9IDG:9J8:

I=:DK:G6AAKDA6I>A>ING>H@D;I=:EA6CH

)A6C6HH:IG>H@H>C8AJ9:ADC<:K>IN>C;A6I>DC6C9DI=:G8=6C<:H>CB6G@:I8DC9>I>DCHI=6I8DJA9G:9J8:I=:K6AJ:D;EA6C

6HH:IHAHD69:8A>C:>CI=:N>:A9D;=><=FJ6A>IN8DGEDG6I:7DC9HB6N69K:GH:AN6;;:8I9>H8DJCIG6I:HG:HJAI>C<>C6C

>C8G:6H:>C1HE:CH>DC6C9DI=:GEDHIG:I>G:B:CID7A><6I>DCH-=:H:G>H@H6BDC<DI=:GH8DJA986JH:I=:EA6CHT

;JC9:9HI6IJHID9:I:G>DG6I:G:HJAI>C<>C6C>C8G:6H:9G:A>6C8:DCDBE6CN8DCIG>7JI>DCH:G>K6I>K:H6G:E:GB>II:9

6AI=DJ<=I=:>G8JGG:CIJH:>HA>B>I:9L>I=>CIG69>I>DC6A;JC9H6C97GD69AN6AADL:9L>I=>C6AI:GC6I>K:;JC9H:G>K6I>K:H6G:

JH:9;DG>C;A6I>DCG>H@B6C6<:B:CI6C9L>I=>CI=:A>67>A>IN9G>K:C>CK:HI>C<HIG6I:<N-=:DBE6CN6AHD=6H>CK:HIB:CIH>C

>CHJG6C8:8DCIG68IHIDE6NEA6C7:C:;>IH>C8:GI6>C8DJCIG>:H

"-<=:676;;-<;

-=:DBE6CN8DCHJAIHL>I=>CI:GC6A6C9:MI:GC6A69K>HDGHG:<6G9>C<I=::ME:8I:9ADC<I:GBG6I:D;G:IJGCDC6HH:IH-=:

DBE6CNJH:HK6G>DJHHDJG8:H>C>IH6EEGD68=ID8DBEJI:I=::ME:8I:9ADC<I:GBG6I:D;G:IJGCD;I=:B6?DG6HH:I

8A6HH:H:ME:8I:9>C:68=D;I=:EA6CH1JI>A>O:HADC<I:GB6HH:I8A6HHG:IJGC6HHJBEI>DCHD;INE>86AANN:6GHL=>8=

6G:EGDK>9:97N:MI:GC6A69K>HDGHDCH>9:G6I>DC>H6AHD<>K:CIDI=::MI:CI68I>K:B6C6<:B:CI>H:BEADN:9>C:68=6HH:I

8A6HH6C96AHDIDB6C6<:B:CI:ME:CH:HH>C<A::ME:8I:9ADC<I:GBG6I:D;G:IJGC>H86A8JA6I:9;DG:68=EA6C7N

6HH:HH>C<I=:EA6CH:ME:8I:96HH:I6AAD86I>DCHIG6I:<NI=:7:C:;>IHD;9>K:GH>;>86I>DCI=:G:;GDB=>HIDG>86A:M8:HHG:IJGCH

;GDB68I>K:ANB6C6<:9IG69>I>DC6A>CK:HIB:CIH:ME:8I:9ADC<I:GBG:IJGCH;DG6AI:GC6I>K:>CK:HIB:CIH6C9:ME:8I:9

>CK:HIB:CI:ME:CH:H-=:G:HJAI>C<8DBEDH>I:G6I:D;G:IJGC>HG:K>:L:97N>CI:GC6A6C9:MI:GC6AE6GI>:H;DG

G:6HDC67A:C:HH

"-<1:-5-6<!4)61;+7=6<")<-

-=:.$9>H8DJCIG6I:>H76H:9DCI=:N>:A98JGK:6EEGD68=JH>C<I=:.$DC ),>C<A:<:C8NDGEDG6I:H(CAN

JGK:

-.16-,76<:1*=<176!4)6;

-=:DBE6CNHEDCHDGH9:;>C:98DCIG>7JI>DCEA6CH;DGHJ7HI6CI>6AAN6AA.,:BEADN::H6C98:GI6>C;DG:><C:BEADN::HDG

8:GI6>CEA6CHI=:DBE6CNL>AAB6I8=:BEADN::8DCIG>7JI>DCH-=:EA6CH6AADL:BEADN::HID8DCIG>7JI:6EDGI>DCD;I=:>G

:6GC>C<H>C688DG96C8:L>I=HE:8>;>:9<J>9:A>C:HJG>C<;>H86A6C9I=:DBE6CN8DCIG>7JI:9

B>AA>DCB>AA>DC6C9B>AA>DCG:HE:8I>K:ANID>IH9:;>C:98DCIG>7JI>DCEA6CHHD;&6G8=EA6C6HH:IH

>C8AJ9:9H=6G:HD;I=:DBE6CNTH8DBBDCHID8@

-.-::-,758-6;)<176!4)6;

1HEDCHDGHILD:;:GG:9DBE:CH6I>DC)A6CHI=:U1-:8=CDAD<NDBE6CN:;:GG:9DBE:CH6I>DC)A6CVI=:

U1)V6C9I=:CI:GEG>H:,:GK>8:HM:8JI>K::;:GG:9DBE:CH6I>DC)A6CI=:U,)VDI=EA6CH6G:CDC

FJ6A>;>:99:;:GG:98DBE:CH6I>DCEA6CHB6>CI6>C:9;DG6H:A:8I<GDJED;B6C6<:B:CI=><=AN8DBE:CH6I:9:BEADN::H6C9

CDC:BEADN::9>G:8IDGH

-=:1)8DK:GH:A><>7A::BEADN::HL=DE6GI>8>E6I:9>C,TH:;:GG:9DBE:CH6I>DC)A6CEG>DGIDI=:!),

&:G<:G-=:,)8DK:GH:A><>7A::BEADN::HL=DE6GI>8>E6I:9>CI=:!)M:8JI>K::;:GG:9DBE:CH6I>DC)A6CEG>DG

IDI=:!),&:G<:GDI=EA6CH6AADLE6GI>8>E6I>C<:BEADN::HID9:;:GI=:G:8:>EID;8JGG:CI8DBE:CH6I>DCID6;JIJG:

9>HIG>7JI>DC96I:DG:K:CI67DK:I=:6BDJCIHI=6IB6N7:9:;:GG:9JC9:G1THI6MFJ6A>;>:9@EA6CI=:1



-:8=CDAD<N&6I8=:9HH:I)A6C':>I=:GEA6CEGDK>9:H;DG:BEADN:G8DCIG>7JI>DCHHD;EG>AI=:,)9D:H

CDI69B>IC:LE6GI>8>E6CIH

:GI6>CB6C6<:B:CI6C9=><=AN8DBE:CH6I:9:BEADN::H6G::A><>7A:ID9:;:G6AADG6EDGI>DCD;I=:>GG:<JA6GH6A6GNI=6I

:M8::9HI=:A>B>I6I>DCH:I;DGI=>C"CI:GC6A+:K:CJ:,:8I>DC66C96AADG6EDGI>DCD;I=:>G>C8:CI>K:8DBE:CH6I>DC

'DC:BEADN::9>G:8IDGH6G::A><>7A:ID9:;:GJEIDD;I=:>G86H=8DBE:CH6I>DC-=:A>67>A>INJC9:GI=:EA6CL=>8=>H

>C8AJ9:9>CDI=:GADC<I:GBA>67>A>I>:H>CI=:DBE6CNH76A6C8:H=::IH6BDJCI:9IDB>AA>DC6HD;&6G8=6C9

B>AA>DC6HD;&6G8=-=:DBE6CNH:ME:CH:JC9:GI=:)A6CIDI6A:9B>AA>DC6C9B>AA>DC;DG;>H86A

6C9G:HE:8I>K:AN

#=B3<1=;3)/F3A

-=:HDJG8:HD;>C8DB:ADHH;GDB8DCI>CJ>C<DE:G6I>DCH7:;DG:>C8DB:I6M:H8A6HH>;>:97:IL::C9DB:HI>8:CI>I>:H6C9

I=DH::CI>I>:H9DB>8>A:9DJIH>9:D;I=:.C>I:9,I6I:H6G:6H;DAADLH

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16 "/@16

DB:HI>8:CI>I>:H      

CI>I>:HDJIH>9:I=:.C>I:9,I6I:H     

-DI6A      

-=:>C8DB:I6M:ME:CH:7:C:;>IDC>C8DB:ADHH;GDB8DCI>CJ>C<DE:G6I>DCH>H8DBEG>H:9D;

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16 "/@16

JGG:CI

:9:G6A      

,I6I:     

DG:><C     

    

:;:GG:9

:9:G6A     

,I6I:     

DG:><C     

    

-DI6A>C8DB:I6M:ME:CH:7:C:;>I      

-=:8JGG:CI;:9:G6AI6M:ME:CH:6C97:C:;>I;DG;>H86AN:6GH6C9>C8AJ9:H6B>AA>DCB>AA>DC6C9

B>AA>DCIG6CH>I>DCI6M7:C:;>IG:HE:8I>K:AN-=:8JGG:CI:ME:CH:7:C:;>I;DG;>H86AN:6GH6C9

>C8AJ9:H>CI:G:HI6C9E:C6AI>:HD;B>AA>DCB>AA>DC6C9B>AA>DCG:HE:8I>K:AN;DGJC8:GI6>CI6MEDH>I>DCH

"C8DCC:8I>DCL>I=I=:!),&:G<:GI=:DBE6CN:CI:G:9>CID6I6MB6II:GH6<G::B:CIL>I=!)!)<:C:G6AANL>AA7:

G:HEDCH>7A:;DGI6MA>67>A>I>:H6G>H>C<EG>DGIDI=:!),&:G<:G6C91>HA>67A:ID!);DG>C8DB:I6MG:8:>K67A:H>I

G:8:>K:HG:A6I:9IDEG:!),&:G<:GE:G>D9H)JGHJ6CIIDI=:I6MB6II:GH6<G::B:CII=:DBE6CNG:8DG9:96

B>AA>DCI6M>C9:BC>;>86I>DCG:8:>K67A:G:A6I:9IDJC8:GI6>CI6MEDH>I>DCH6B>AA>DCI6M>C9:BC>;>86I>DCG:8:>K67A:G:A6I:9

IDDI=:GI6ME6N67A:H6C96B>AA>DCI6M>C9:BC>;>86I>DCE6N67A:G:A6I:9IDDI=:GI6MG:8:>K67A:H

"C8DCC:8I>DCL>I=I=:.,),,:E6G6I>DCI=:DBE6CN:CI:G:9>CID6I6MB6II:GH6<G::B:CIL>I=):GHE:8I6"C8

>C8AJ9>C<>IHHJ88:HHDGH6C9E:GB>II:96HH><CH):GHE:8I6-=:DBE6CN<:C:G6AANL>AA7:G:HEDCH>7A:;DGI6MA>67>A>I>:H

6G>H>C<EG>DGIDI=:.,),,:E6G6I>DC6C9):GHE:8I6>HA>67A:IDI=:DBE6CN;DG>C8DB:I6MG:8:>K67A:HG:A6I:9IDEG:

HE>CD;;E:G>D9H"C8DB:I6MA>67>A>I>:HIG6CH;:GG:9ID):GHE:8I6EG>B6G>ANG:A6I:IDEG:!),&:G<:GE:G>D9H;DGL=>8=I=:

DBE6CN>H>C9:BC>;>:97N!)EJGHJ6CIIDI=:I6MB6II:GH6<G::B:CI7:IL::CI=:DBE6CN6C9!)-=:DBE6CN



G:B6>CHA>67A:ID!);DGI6MG:8:>K67A:HIG6CH;:GG:9ID):GHE:8I6G:A6I:9IDEG:!),&:G<:GE:G>D9H)JGHJ6CIIDI=:

I6MB6II:GH6<G::B:CII=:DBE6CNG:8DG9:96B>AA>DCI6M>C9:BC>;>86I>DCG:8:>K67A:;GDB):GHE:8I6G:A6I:9ID

DI=:GI6MG:8:>K67A:H6C96B>AA>DCI6M>C9:BC>;>86I>DCE6N67A:ID):GHE:8I6G:A6I:9ID>C8DB:I6M6C9DI=:GI6M

E6N67A:H

"C8DCC:8I>DCL>I=I=:H6A:D;>IH=:6AI=86G:EGDK>9:GHD;IL6G:7JH>C:HH!),I=:DBE6CN:CI:G:9>CID6I6MB6II:GH

6<G::B:CIL>I=:96AJH)JGHJ6CIIDI=:I6MB6II:GH6<G::B:CII=:DBE6CN<:C:G6AANL>AA7:G:HEDCH>7A:;DGI6M

A>67>A>I>:H6G>H>C<EG>DGIDI=:H6A:D;I=:!),7JH>C:HH

-=:B6?DG:A:B:CIH8DCIG>7JI>C<IDI=:9>;;:G:C8:7:IL::CI=:.,;:9:G6AHI6IJIDGNI6MG6I:6C9I=::;;:8I>K:I6MG6I:

-+;DG8DCI>CJ>C<DE:G6I>DCH>H7:ADL

7A1/:.3/@A<232

"/@16 "/@16 "/@16

,I6IJIDGNG6I:   

,I6I:>C8DB:I6MC:ID;;:9:G6AI6M   

DG:><CI6MG6I:9>;;:G:CI>6A   

=6C<:>CK6AJ6I>DC6AADL6C8:H   

"C8DB:I6M6C9;DG:><CI6M8G:9>IH   

=6C<:>CJC8:GI6>CI6MEDH>I>DCH  S 

0>I==DA9>C<I6M:H   

.,I6MDC;DG:><C>C8DB:   

M8:HHI6M7:C:;>IDG:ME:CH:;DGHID8@8DBE:CH6I>DC   

6E>I6A>O:9IG6CH68I>DC8DHIH S  

6H::GDH>DC6C9IG6CH>I>DCI6M:H   

"BE68ID;7JH>C:HH9>K:HI>IJG:H   

"C9:BC>;>86I>DC8DHIH   

"CI:G:HIDCI6MG:8:>K67A:H  S S

-6M6J9>IH   S

(I=:G>I:BHC:I   

;;:8I>K:I6MG6I:   

"C;>H86AI=:-+L6HEG>B6G>AN>BE68I:97N

W -=:<AD76AB>MD;>C8DB:6C98=6C<:H>C;DG:><CHI6IJIDGNI6MG6I:HL=>8=>C8G:6H:9I=:;DG:><CI6MG6I:

9>;;:G:CI>6A6C9I=:-+7NB>AA>DC6C9G:HE:8I>K:AN

W "C8DB:I6M6C9;DG:><CI6M8G:9>IHL=>8=9:8G:6H:9>C8DB:I6M:ME:CH:6C9I=:-+7NB>AA>DC6C9

G:HE:8I>K:AND;;H:I7NI6M:ME:CH:DC.,>CI:GC6I>DC6AI6M>C8AJH>DCHL=>8=>C8G:6H:9I6M:ME:CH:6C9I=:-+

7NB>AA>DC6C9G:HE:8I>K:AN

W -=:I6M7:C:;>ID;8=6C<:H>CJC8:GI6>CI6MEDH>I>DCHG:A6I:9IDI=::ME>G6I>DCD;I=:HI6IJI:D;A>B>I6I>DCH6C9

86E>I6A>O:9G:H:6G8=6C9:ME:G>B:CI6A:ME:C9>IJG:HD;;H:I7NI=:>BE68ID;>C8G:6H:H>CDI=:GJC8:GI6>CI6M

EDH>I>DCH6C9688GJ:9>CI:G:HIL=>8=9:8G:6H:9>C8DB:I6M:ME:CH:6C9I=:-+7NB>AA>DC6C9

G:HE:8I>K:AN

"C;>H86AI=:-+L6HEG>B6G>AN>BE68I:97N

W =6C<:H>C;DG:><C?JG>H9>8I>DC6AADHH:HI=6I9:8G:6H:9I=:-+7NB>AA>DC6C9

G:HE:8I>K:ANL>I=6CD;;H:II>C<>C8G:6H:>CI=:-+9J:ID6C>C8G:6H:>CI=:K6AJ6I>DC6AADL6C8:D;I=:

H6B:6BDJCI

W "C8DB:I6M6C9;DG:><CI6M8G:9>IHL=>8=9:8G:6H:9>C8DB:I6M:ME:CH:6C99:8G:6H:9I=:-+7N

B>AA>DC6C9G:HE:8I>K:AND;;H:I7NI6M:ME:CH:DC.,>CI:GC6I>DC6AI6M>C8AJH>DCHL=>8=

>C8G:6H:9I6M:ME:CH:6C9>C8G:6H:9I=:-+7NB>AA>DC6C9G:HE:8I>K:AN



W DG:><CL>I==DA9>C<I6M:HL=>8=>C8G:6H:9>C8DB:I6M:ME:CH:6C9>C8G:6H:9I=:-+7NB>AA>DC

6C9G:HE:8I>K:AN

"C;>H86AI=:-+L6HEG>B6G>AN>BE68I:97N

W G:9J8I>DC>C76H::GDH>DC6C9IG6CH>I>DCI6M:HL=>8=>C8G:6H:9>C8DB:I6M7:C:;>I6C99:8G:6H:9I=:-+7N

B>AA>DC6C9G:HE:8I>K:AN

W "C8DB:I6M6C9;DG:><CI6M8G:9>IHL=>8=>C8G:6H:9>C8DB:I6M7:C:;>I6C99:8G:6H:9I=:-+7NB>AA>DC6C9

G:HE:8I>K:AND;;H:I7NI6M:ME:CH:DC.,>CI:GC6I>DC6AI6M>C8AJH>DCHL=>8=9:8G:6H:9I6M7:C:;>I6C9

>C8G:6H:9I=:-+7NB>AA>DC6C9G:HE:8I>K:AN

W 'DCI6M67A:<6>CH6C9ADHH:HDC7JH>C:HH9>K:HI>IJG:HL=>8=>C8G:6H:9>C8DB:I6M7:C:;>I6C99:8G:6H:9I=:

-+7NB>AA>DC6C9G:HE:8I>K:AN

-=:9:;:GG:9I6M6HH:IHA>67>A>I>:HL:G:6H;DAADLH

A=4

>CB>AA>DCH "/@16 "/@16

:;:GG:9I6M6HH:IH

-6MADHH8G:9>I86GGN;DGL6G9H    

88GJ:9>CI:G:HI   

(E:G6I>C<A:6H:A>67>A>I>:H   

DCIG68I688DJCI>C<   

:EG:8>6I>DC6C96BDGI>O6I>DC   

(I=:G6HH:IH   

-DI6A9:;:GG:9I6M6HH:IH    

/6AJ6I>DC6AADL6C8:    

':I9:;:GG:9I6M6HH:IH    

:;:GG:9I6MA>67>A>I>:H

(E:G6I>C<G><=ID;JH:6HH:I   

"CK:HIB:CI76H>H9>;;:G:C8:H   

BEADN::7:C:;>IH   

(I=:GA>67>A>I>:H   

-DI6A9:;:GG:9I6MA>67>A>I>:H   

-DI6AC:I9:;:GG:9I6M6HH:IHA>67>A>I>:H    



"C8DB:I6MG:A6I:96HH:IH6G:>C8AJ9:9>CI=:688DBE6CN>C<76A6C8:H=::IH6H;DAADLH

A=4

>CB>AA>DCH "/@16 "/@16

JGG:CI

"C8DB:I6MG:8:>K67A:H6C9EG:E6>9I6M:H    

   

'DC8JGG:CI

"C8DB:I6M:HG:8:>K67A:6C9EG:E6>9I6M:H    

:;:GG:9I6M6HH:IH   

   

-DI6 A    

"C8DB:I6MG:A6I:9A>67>A>I>:H6G:>C8AJ9:9>CI=:688DBE6CN>C<76A6C8:H=::I6H;DAADLH

A=4

>CB>AA>DCH "/@16 "/@16

JGG:CI

"C8DB:I6M:HE6N67A:    

   

'DC8JGG:CI

:;:GG:9I6M:H    

"C8DB:I6M:HE6N67A:   

%>67>A>IN;DGJC8:GI6>CI6MEDH>I>DCH   

   

-DI6 A    

,><C>;>86CIB6C6<:B:CI?J9<B:CI>HG:FJ>G:9>C9:I:GB>C>C<I=:DBE6CNHEGDK>H>DC;DG>C8DB:I6M:H9:;:GG:9I6M

6HH:IH6C9A>67>A>I>:H6C96CNK6AJ6I>DC6AADL6C8:G:8DG9:96<6>CHI9:;:GG:9I6M6HH:IHHD;:68=G:EDGI>C<96I:

B6C6<:B:CIL:><=HC:L:K>9:C8:7DI=EDH>I>K:6C9C:<6I>K:I=6I8DJA96;;:8I>IHK>:LD;I=:;JIJG:G:6A>O6I>DCD;>IHC:I

9:;:GG:9I6M6HH:IH(7?:8I>K:K:G>;>67A::K>9:C8:L=>8=>H=>HIDG>86A>CC6IJG:86GG>:HBDG:L:><=II=6CHJ7?:8I>K:

:K>9:C8:L=>8=>H;DGL6G9ADD@>C<>CC6IJG:

K6AJ6I>DC6AADL6C8:=6H7::CG:8DG9:96<6>CHI9:;:GG:9I6M6HH:IHD;6EEGDM>B6I:ANB>AA>DC6HD;&6G8=

9J:IDJC8:GI6>CI>:HG:A6I:9IDI=:67>A>INIDJI>A>O:I=:H:6HH:IH"C6HH:HH>C<L=:I=:G>IH9:;:GG:9I6M6HH:IH6G:

G:6A>O67A:I=:DBE6CN8DCH>9:GHL=:I=:G>I>HBDG:A>@:ANI=6CCDII=6IHDB:EDGI>DCDG6AAD;I=:9:;:GG:9I6M6HH:IHL>AA

CDI7:G:6A>O:96C969?JHIHI=:K6AJ6I>DC6AADL6C8:688DG9>C<AN-=:DBE6CN8DCH>9:GH6AA6K6>A67A:EDH>I>K:6C9

C:<6I>K::K>9:C8:>C8AJ9>C<;JIJG:G:K:GH6AHD;:M>HI>C<I6M67A:I:BEDG6GN9>;;:G:C8:HI6M67A:>C8DB:>CEG>DG86GGN768@

N:6GHEGD?:8I:9;JIJG:I6M67A:>C8DB:I6MEA6CC>C<HIG6I:<>:H6C9G:8:CI;>C6C8>6ADE:G6I>DCH

-=:C:I9:8G:6H:>CI=:K6AJ6I>DC6AADL6C8:D;B>AA>DC>C;>H86AL6HEG>B6G>AN9J:IDHI6IJIDGN8DGEDG6I:>C8DB:

I6MG6I:8=6C<:HL=>8=IG><<:G:96G:B:6HJG:B:CID;9:;:GG:9I6M76A6C8:H6C9I=:6HHD8>6I:9K6AJ6I>DC6AADL6C8:H



-=:;DAADL>C<I67A:EGDK>9:H>C;DGB6I>DCDCI=:DBE6CNHK6G>DJHI6M86GGN;DGL6G9H

A=4"/@16 A=4"/@16

>CB>AA>DCH )=B/:

,7B6#=

F>7@/B7=<

,7B6

F>7@/B7=<

F>7@/B7=<

/B3A

)6@=C56 )=B/:

,7B6#=

F>7@/B7=<

,7B6

F>7@/B7=<

F>7@/B7=<

/B3A

)6@=C56

':IDE:G6I>C<ADHH

86GGN;DGL6G9H

:9:G6A  S  S  S '      S '

,I6I:              

DG:><C              

-6M8G:9>I

86GGN;DGL6G9H

:9:G6A  S  S  S     S   

,I6I: SS

DG:><C    S       S   

6E>I6AADHH

86GGN;DGL6G9H

:9:G6A      S '      S '

,I6I:      S '      S '

DG:><C      S '      S '

-=:DBE6CN6AHD=6H;:9:G6A6C9HI6I:?>CI:G:HI9:9J8I>DC86GGN;DGL6G96IIG>7JI:HD;6EEGDM>B6I:ANB>AA>DC6C9

B>AA>DCG:HE:8I>K:ANI=6I=6K:CD:ME>G6I>DC

HD;&6G8=I=:DBE6CN=69JC9>HIG>7JI:9:6GC>C<H;GDB;DG:><CHJ7H>9>6G>:HI=6IL:G:CDI>C9:;>C>I:AN

G:>CK:HI:96C9=6969:;:GG:9I6MA>67>A>IND;B>AA>DC;DGI=::HI>B6I:9I6M:H6HHD8>6I:9L>I=I=:G:E6IG>6I>DCD;I=:H:

:6GC>C<H-=:DBE6CN6AHD=69JC9>HIG>7JI:9:6GC>C<HD;6EEGDM>B6I:AN7>AA>DC6C9DI=:GDJIH>9:76H>H9>;;:G:C8:H

>C;DG:><CHJ7H>9>6G>:HI=6IL:G:>C9:;>C>I:ANG:>CK:HI:9>C;DG:><CDE:G6I>DCH'DI6M:H=6K:7::CEGDK>9:9DCI=:

JC9>HIG>7JI:9;DG:><C:6GC>C<H6C9DJIH>9:76H>H9>;;:G:C8:HI=6I6G:>C9:;>C>I:ANG:>CK:HI:9";;JIJG::K:CIH>C8AJ9>C<

B6I:G>6A8=6C<:H>C:HI>B6I:HD;86H=LDG@>C<86E>I6A6C9ADC<I:GB>CK:HIB:CIG:FJ>G:B:CIHC:8:HH>I6I:I=6II=:H:

:6GC>C<H7:9>HIG>7JI:96C699>I>DC6AEGDK>H>DC;DGI6M:HB6N6EEANL=>8=8DJA9B6I:G>6AAN6;;:8IDJG;JIJG::;;:8I>K:I6M

G6I:

-=:DBE6CN688DJCIH;DG>C8DB:I6MJC8:GI6>CI>:H>C688DG96C8:L>I=,"C8DB:-6M:HL=>8=EG:H8G>7:H6

G:8D<C>I>DCI=G:H=DA96C9B:6HJG:B:CI8G>I:G>6;DGI=:;>C6C8>6AHI6I:B:CIG:8D<C>I>DC6C9B:6HJG:B:CID;6I6MEDH>I>DC

I6@:CDG:ME:8I:9ID7:I6@:C>C6I6MG:IJGC:C:;>IH;GDBI6MEDH>I>DCHH=DJA97:G:8D<C>O:9>CI=:;>C6C8>6AHI6I:B:CIH

DCANL=:C>I>HBDG:A>@:ANI=6CCDII=6II=:I6MEDH>I>DCL>AA7:HJHI6>C:9JEDC:M6B>C6I>DC7NI=:6EEGDEG>6I:I6M>C<

6JI=DG>INI=6ILDJA9=6K:;JAA@CDLA:9<:D;6AAG:A:K6CI>C;DGB6I>DCI6MEDH>I>DCI=6IB::IHI=:BDG:A>@:ANI=6CCDI

G:8D<C>I>DCI=G:H=DA9>HB:6HJG:96II=:A6G<:HI6BDJCID;7:C:;>II=6I>H<G:6I:GI=6C;>;INE:G8:CIA>@:AND;7:>C<G:6A>O:9

JEDCJAI>B6I:H:IIA:B:CI-6MEDH>I>DCHI=6IEG:K>DJHAN;6>A:9IDB::II=:BDG:A>@:ANI=6CCDIG:8D<C>I>DCI=G:H=DA9H=DJA9

7:G:8D<C>O:9>CI=:;>GHIHJ7H:FJ:CI;>C6C8>6AG:EDGI>C<E:G>D9>CL=>8=I=6II=G:H=DA9>HB:I)G:K>DJHANG:8D<C>O:9I6M

EDH>I>DCHI=6ICDADC<:GB::II=:BDG:A>@:ANI=6CCDIG:8D<C>I>DCI=G:H=DA9H=DJA97:9:G:8D<C>O:9>CI=:;>GHIHJ7H:FJ:CI

;>C6C8>6AG:EDGI>C<E:G>D9>CL=>8=I=6II=G:H=DA9>HCDADC<:GB:I,6AHDEGDK>9:H<J>96C8:DCI=:688DJCI>C<;DG

6C99>H8ADHJG:D;A>67>A>I>:H;DGJC8:GI6>CI6MEDH>I>DCH>CI:G:HI6C9E:C6AI>:H



"C688DG96C8:L>I=,I=:DBE6CNTHA>67>A>IN;DGJC8:GI6>CI6MEDH>I>DCHL6H6H;DAADLH

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16

-6M    

"CI:G:HI   

):C6AI>:H   

+:9J8I>DCD;G:8:>K67A:H   

':ID;I6M6IIG>7JI:H   

-DI6 A    

-=:;DAADL>C<I67A:HJBB6G>O:HI=:68I>K>ING:A6I:9IDI=:DBE6CNTHJC8:GI6>CI6MEDH>I>DCH:M8AJ9>C<>CI:G:HI6C9

E:C6AI>:H6C9G:A6I:9I6M6IIG>7JI:H

7A1/:.3/@A<232

>CB>AA>DCH "/@16 "/@16 "/@16

6A6C8:6I7:<>CC>C<D;;>H86AN:6G      

GDHH>C8G:6H:HG:A6I:9IDEG>DGN:6GI6MEDH>I>DCH     

GDHH9:8G:6H:HG:A6I:9IDEG>DGN:6GI6MEDH>I>DCH     

GDHH>C8G:6H:HG:A6I:9ID8JGG:CIN:6GI6MEDH>I>DCH     

GDHH9:8G:6H:HG:A6I:9ID8JGG:CIN:6GI6MEDH>I>DCH   S  S

,:IIA:B:CIH6C9HI6IJI:D;A>B>I6I>DC:ME>G6I>DCH     

DG:><C:M8=6C<:6C9DI=:GH   S  

6A6C8:6I:C9D;;>H86AN:6G      

-=:DBE6CNTHA>67>A>IN;DGJC8:GI6>CI6MEDH>I>DCH6I&6G8=&6G8=6C9&6G8=>C8AJ9:H

B>AA>DCB>AA>DC6C9B>AA>DCG:HE:8I>K:ANG:A6I:9ID6BDJCIHI=6I>;G:8D<C>O:9LDJA96;;:8II=::;;:8I>K:I6M

G6I::M8AJ9>C<G:A6I:9>CI:G:HI6C9E:C6AI>:H-=:9:8G:6H:>CI6MEDH>I>DCH>HEG>B6G>AN9J:IDHI6IJI:D;A>B>I6I>DC

:ME>G6I>DCH6C968=6C<:>CI=:JC8:GI6>CI6MEDH>I>DCG:A6I:9ID86E>I6A>O:9G:H:6G8=6C9:ME:G>B:CI6A:ME:C9>IJG:H

-=:DBE6CNG:8D<C>O:H>CI:G:HI688GJ:9G:A6I:9IDJC8:GI6>CI6MEDH>I>DCH6C9E:C6AI>:H6H68DBEDC:CID;>C8DB:I6M

:ME:CH:JG>C<I=:N:6G:C9:9&6G8=I=:DBE6CN=696C:I>C8G:6H:>C>CI:G:HI:ME:CH:D;B>AA>DC

B>AA>DCC:ID;I6MCD8=6C<:H>C688GJ:9:ME:CH:;DGE:C6AI>:H6C96HD;&6G8=G:8D<C>O:96A>67>A>IN;DG

>CI:G:HID;B>AA>DCB>AA>DCC:ID;I6M6C9E:C6AI>:HD;B>AA>DCJG>C<I=:N:6G:C9:9&6G8=I=:

DBE6CN=696C:I>C8G:6H:>C>CI:G:HI:ME:CH:D;B>AA>DCB>AA>DCC:ID;I6M6C96C:I9:8G:6H:>C688GJ:9

:ME:CH:;DGE:C6AI>:HD;B>AA>DC6C96HD;&6G8=G:8D<C>O:96A>67>A>IN;DG>CI:G:HID;B>AA>DC

B>AA>DCC:ID;I6M6C9E:C6AI>:HD;B>AA>DCJG>C<I=:N:6G:C9:9&6G8=I=:DBE6CN=696C:I

>C8G:6H:>C>CI:G:HI:ME:CH:D;B>AA>DCB>AA>DCC:ID;I6M6C96C:I9:8G:6H:>C688GJ:9:ME:CH:;DGE:C6AI>:HD;

B>AA>DC6C96HD;&6G8=G:8D<C>O:96A>67>A>IN;DG>CI:G:HID;B>AA>DCB>AA>DCC:ID;I6M6C9E:C6AI>:HD;

B>AA>DC

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