Embed Size (px)
Citation preview
!"#$%&! $''( ') ( ('% * + , - . * ('
)/0'1/123/0''45'6/378/'4/0' 39:0;<3=098/3=/:='053'89'4>3?@/''4/0'4>A7?=0';528?70
3>058=9:='4/0'=39:0;<3=0
"@3?8'BCDB
!"!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
!8!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
9,1*)$1%0:+!;+$<0+!,+'!#$%&'()$*'!+'*!.&+!%'')<1%=)&!,+!(+$')&&+'>!<$??+!@!0A1''.+!,+!0%!B.+$$+>!().$!(+$C+-$+!
%.D!($1&<1(%.D!%<*+.$'!,.!*$%&'()$*>!@!0A?()2.+!*+&%&*'!,.!$%10!).!,+!0%!$).*+>!,+!,1%0)B.+$!+&!*+$$%1&!
&+.*$+E
4.F).$,AG.1>! '+'! 7H6! C+C/$+'! $+($?'+&*+&*! *).'! 0+'! C),+'! +*! ')&*! ,+'! +D(+$*'>! ,+'! G%.*'!
I)&<=)&&%1$+'! ).! ,+'! ,1$1B+%&*'! ,A+&*$+($1'+'! ,.! '+<*+.$>! 2.1! %.,1=)&&+&*! ,+'! (+$')&&%01*?'! +*!
,?/%-+&*!+&'+C/0+!'.$!,+'!2.+'=)&'!+*!,+'!($)F+*'!,A%5+&1$E
9&!&)5+C/$+!,+$&1+$>!().$! <)&*$1/.+$!@! 0%! $?J+D1)&! '.$! 0%! <$1'+!,+! 0%!,+-+!(./012.+>!.&!B$).(+!
,+!*$%5%10>!%.!'+1&!,.!;+$<0+!,+'!#$%&'()$*'>!'A+'*!<$??!%K&!,A%&%0L'+$!0+'!,1M?$+&*+'!
(+$'(+<=5+'! ,A?5)0.=)&! ! ,.! '+<*+.$! %.! (0%&! ?<)&)C12.+! +*! /.,B?*%1$+>! +*! 0+'!
?5+&*.+00+'! <)&'?2.+&<+'! '.$! 0%! ,?$15+! ,+'! ,?K<1*'! (./01<'>! @! 0AG)$1N)&! "686E! :+!
,)''1+$!2.1!'.1*!*$%1*+!+D<0.'15+C+&*!,+!<+!*GOC+!+&!%/)$,%&*!@!0%!I)1'!1&5+'=''+C+&*!
+*!I)&<=)&&+C+&*!+*!+&!($)()'%&*!,+'!)$1+&*%=)&'E!:+'!%.*+.$'!)&*!5)0)&*%1$+C+&*!
)C1'!,+!*$%1*+$!,A%.*$+'!B$%&,+'!($)/0?C%=2.+'>!<)CC+!0+!$P0+!,+'!*$%&'()$*'!,%&'!
0+'!?C1''1)&'!,+!B%N!@!+M+*!,+!'+$$+!+*!0A?*.,+!,+'!C)L+&'!,AL!(%001+$>!0+'!1C(%<*'!,.!
'+<*+.$!'.$!0A+C(0)1!).!'.$!0A%C?&%B+C+&*!,+'!*+$$1*)1$+'E
9&! <)&'?2.+&<+>! <+! ,)''1+$! &+! ,)1*! (%'! Q*$+! %(($?G+&,?! <)CC+! .&+! &).5+00+!
<)&*$1/.=)&!@!0%!()01=2.+!,+'!*$%&'()$*'>!C%1'!.&12.+C+&*!<)CC+!.&+!%&%0L'+!R!@!I$)1,!S!'.$!0%!
*G?C%=2.+!*$%&'()$*'!+*!,+-+E
;+!*$%5%10!&A%!(%'!,A%.*$+!($?*+&=)&!2.+!,A%0+$*+$!0+'!,?<1,+.$'!(./01<'!+*!,+!C)&*$+$!2.+!0+'!<G)1D!
,+!()01=2.+'!(./012.+'!$+'*+&*!).5+$*'!().$!<)&,.1$+!@!0%!$?,.<=)&!,+!0%!,+-+>!*).*!+&!C%1&*+&%&*!
).!+&!,?5+0)((%&*!,+'!'+$51<+'!,+!*$%&'()$*!,+!2.%01*?E!!
T+%&3U1,1+$!V:4W;X9#
Y$?'1,+&*!,.!;+$<0+!,+'!#$%&'()$*'
!Z!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
4.*+.$'!+*!<)&*$1/.*+.$':+!,)''1+$!R!#$%&'()$*!+*!,+-+!(./012.+!S!%!?*?!?*%/01!(%$!.&!<)00+<=I!,+!C+C/$+'!,.!;+$<0+!,+'!
#$%&'()$*'E
[).'!0+!(10)*%B+!T+%&3U1,1+$!V:4W;X9#>!Y$?'1,+&*!,.!;+$<0+!,+'!#$%&'()$*'>!0+!B$).(+!,+!*$%5%10!?*%1*!
<)C()'?!<)CC+!'.1*!\
]%(()$*+.$'!\! T+%&3W)^0!;X4Y_:_#!EEEEEEEEEEEEEEEEEEEE`&B?&1+.$!a?&?$%0!G)&)$%1$+!,+'!Y)&*'!+*!;G%.''?+'
! b0151+$!Y4_:3U_Vb`[3#4`W9!EEEEEEEEE`&B?&1+.$!a?&?$%0!G)&)$%1$+!,+'!Y)&*'!+*!;G%.''?+'
c+C/$+'!\! 40%1&!VbWW4db_[!EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEY$)I+''+.$!?C?$1*+!,+'!_&15+$'1*?'
! c%$=%0!V9::bW!EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE ;)&'.0*%&*!+&!B).5+$&%&<+!*+$$1*)$1%0+
! e5+'!;]bf9#!EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE Y$)I+''+.$!,+'!_&15+$'1*?'
! a+)$B+'!UbV`4[!EEEEEEEEEEEEEEEEEEEEEEEEEEEEEE`&B?&1+.$!a?&?$%0!G)&)$%1$+!,+'!Y)&*'!+*!;G%.''?+'
! ;0%.,+!a]9[[`9]!EEEEEEEEEEEEEEEEEEEEEEEEEEEE`&B?&1+.$!a?&?$%0!!G)&)$%1$+!,+'!Y)&*'!+*!;G%.''?+'
! ]?CL!Y]_UAXbcc9!EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEY$)I+''+.$!?C?$1*+!,+'!_&15+$'1*?'
! V+$&%$,![9:`ac4WW!EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE`&'(+<*+.$!a?&?$%0!G)&)$%1$+!,+!0A92.1(+C+&*
! c1<G+0!g4:]4h9!EEEEEEEEEEEEEEEEEEEEEEEEEEE`&B?&1+.$!a?&?$%0!!G)&)$%1$+!,+'!Y)&*'!+*!;G%.''?+'
:A1&I)$C%=)&!'.$!0%!'1*.%=)&!+*!0+'!(+$'(+<=5+'!,A?5)0.=)&!,%&'!0+'!,1M?$+&*'!,)C%1&+'!,.!*$%&'()$*>!
$%(()$*?+!,%&'!0+'!K<G+'!,.!($?'+&*!,)''1+$>!%!(.!Q*$+!+&!B$%&,+!(%$=+!5%01,?+!).!<)&I)$*?+!(%$!.&!
<+$*%1&!&)C/$+!,A+D(+$*'!2.1!'+!')&*!1&*?$+''?'!@!<+'!*$%5%.D!\!2.A10'!+&!')1+&*!!*).'!$+C+$<1?'E
:+'!$?'.0*%*'!,+'!'<?&%$1)'!+*!0%!'L&*GO'+!,+'!+&'+1B&+C+&*'!@!+&!=$+$!)&*!?*?!+D%C1&?'!+*!,?/%-.'!
0)$'!,A.&+!$?.&1)&!,.!;+$<0+!,+'!#$%&'()$*'!*+&.+!0+!76!%5$10!"67"E!:+!,)''1+$!($+&,!+&!<)C(*+!0+'!
)/'+$5%=)&'!,+'!(%$=<1(%&*'E
`&B?&1+.$!+*
!H!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
[)CC%1$+
%9E/'F'G'()- &!-",
%9E/'H'G'"* (*!$'( '6&# !-+* (*!$
%9E/'I'G''',"''$J# K($(''( '',($''(#$(-L#(M(# $'']9[_c9!
`&*$),.<=)&!
]?%B1$!I%<+!@!0%!<$)1''%&<+!,+'!,?(+&'+'!,A+D(0)1*%=)&!
U+'!C%$B+'!,+!C%&k.5$+!@!.=01'+$!'.$!0+'!$+<+-+'!<)CC+$<1%0+'!
U+'!!()01=2.+'!,A1&5+'=''+C+&*'!,)&*!0A?5%0.%=)&!,)1*!Q*$+!%C?01)$?+
%9E/'DI'G',('')&$$-(!
Y%B+!7l!3!`&*$),.<=)&!\!2.+0'!01+&'!+&*$+!*$%&'()$*'!+*!,+-+!(./012.+!m
Y%B+!"6!3!!7$+!!(%$=+!\!($?'+&*%=)&!,+'!'<?&%$1)'!
:+!(?$1CO*$+!+*!0%!,?C%$<G+!$+*+&.'!
:+'!,?(+&'+'!(./012.+'!,%&'!0+'!*$%&'()$*'!+&!"676!
:+'!$?'.0*%*'!,+'!,+.D!'<?&%$1)'!@!0AG)$1N)&!"686!
Y%B+!"n!3!!"+!(%$=+!\!,+'<$1(=)&!(%$!,)C%1&+!,+'!GL()*GO'+'!?*.,1?+'
d1<G+!7!3!]?'+%.!$).=+$!&%=)&%0!
d1<G+!"!3!]?'+%.D!$).=+$'!0)<%.D!
d1<G+!8!3!#$%&'()$*!I+$$)51%1$+!&%=)&%0!
d1<G+!Z!3!#$%&'()$*'!<)00+<=I'!$?B1)&%.D!+*!,?(%$*+C+&*%.D!!
d1<G+!H!3!]?'+%.!J.51%0!!
d1<G+!n!3!Y)$*'!+*!*$%&'()$*!C%$1=C+!!
d1<G+!o!3!#$%&'()$*'!<)00+<=I'!.$/%1&'!
d1<G+!l!3!#$%&'()$*'!<)00+<=I'!+&!`0+3,+3d$%&<+!
d1<G+!p!3!#$%&'()$*!%?$1+&!
Y%B+!Zp!3!!8+!(%$=+!\!<)&*$1/.=)&'!,A+D(+$*'!%'')<1?'!%.D!*$%5%.D
7E!Y)1&*!,+!5.+!'.$!0%!,+-+!(./012.+!I$%&q%1'+!!
"E!;)&,1=)&'!C%<$)?<)&)C12.+'!,.!,?'+&,+-+C+&*!!
8E!:%!<)&*$1/.=)&!,+'!*$%&'()$*'!@!0%!,+-+!(./012.+!
ZE!95%0.%=)&!,+'!($)F+*'!,A1&I$%'*$.<*.$+'!,+!*$%&'()$*!
4&&+D+!\!]+<+-+'!'(?<1K2.+'!,+'!%,C1&1'*$%=)&'!($)5+&%&*!,+!0%!$).*+
Y%B+!o7!3!]?I?$+&<+'!'*%='=2.+'!+*!/1/01)B$%(G12.+'
!n!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
!n!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
!o!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
:%!'L&*GO'+!+*!0+'!+&'+1B&+C+&*'
!o!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
!l!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'!($*M(
45+<!,+'!<)&<).$'!(./01<'!%&&.+0'!,+!0A)$,$+!,+!
Z6!C1001%$,'!,A+.$)'>!0+!'+<*+.$!,+'!*$%&'()$*'!%!
.&! 1C(%<*! 1C()$*%&*! '.$! 0A+&,+-+C+&*! (./01<!
,+!0%!d$%&<+E!;+'!<)&<).$'!'A%<<$)1''+&*!,A%&&?+!
+&!%&&?+>! *%&*!(%$! 0%!,?B$%,%=)&!,+'!<)C(*+'!
,+! I)&<=)&&+C+&*! ,+'! *$%&'()$*'! <)00+<=I'!
2.+! (%$! 0+! $L*GC+! ,+'! 1&5+'=''+C+&*'! ($?5.'!
,%&'! 0+! <%,$+! ,+'! +&B%B+C+&*'! ,.! a$+&+00+!
,+! 0A9&51$)&&+C+&*! +*! ,.! ($)F+*! ,+! [<G?C%!
&%=)&%0!,+'!1&I$%'*$.<*.$+'!,+!*$%&'()$*'!i[W`#j>!
2.1!,?(+&,+&*!().$!0A+''+&=+0!,+'!I)&,'!(./01<'E
[1! $1+&! &A+'*! I%1*! ().$! 01C1*+$! <+-+! R! ,?$15+!
,?K<1*%1$+!S>! <A+'*!@! 0AG)$1N)&!"686!.&!C)&*%&*!
<.C.0?!,+!786!C1001%$,'!,A+.$)'!'.((0?C+&*%1$+'!
2.1! %0).$,1$%1*! 0+!C)&*%&*!,+! 0%!,+-+!(./012.+!
).!&?<+''1*+$%1*!%.*%&*!,+!($?0O5+C+&*'!K'<%.D!
'.((0?C+&*%1$+'r! _&+! *+00+! (+$'(+<=5+! &A+'*!
@! 0A?51,+&<+! (%'! ').*+&%/0+! ,%&'! 0%! '1*.%=)&!
,A+&,+-+C+&*! (./01<! ,+! 0%! d$%&<+>! 2.1! $+'*+$%!
.&!?0?C+&*!<+&*$%0!,+! 0%!()01=2.+!?<)&)C12.+!
,%&'!0+'!%&&?+'!@!5+&1$E
s.+! ,+51+&,$%1+&*! 0+'! ()01=2.+'! ,+! *$%&'()$*!
,%&'! 0AGL()*GO'+! ,+! $+'*$1<=)&'! ,+'! /.,B+*'!
(./01<'!i,+!0A9*%*!+*!,+'!<)00+<=51*?'!*+$$1*)$1%0+'j!
/+%.<).(!(0.'! I)$*+'!2.A%.F).$,AG.1>! *+00+'!2.+!
<+00+'! )/'+$5?+'! %<*.+00+C+&*! +&! 4&B0+*+$$+>!
+&! 9'(%B&+! ).! +&! `*%01+! m! 4! 0A)(()'?! ,.!
'<?&%$1)! *+&,%&<1+0! <13,+''.'>! .&! '<?&%$1)!
,+! ,?'+&,+-+C+&*! <)&,.1$%1*! @! .&! C)&*%&*!
<.C.0?!,+!0A)$,$+!,+!776!C1001%$,'!,A%00OB+C+&*'!
/.,B?*%1$+'!%.!CQC+!G)$1N)&!"686>!+&!<)C/1&%&*!
,+'! C+'.$+'! ,A?<)&)C1+'! ,%&'! 0%! ($),.<=)&!
,+'! '+$51<+'! ,+! *$%&'()$*>! ,+! $??5%0.%=)&! ,+'!
*%$1K<%=)&'!(./012.+'!+*!,+'!(?%B+'!$).=+$'>!+*!
,+!$+()$*!,+'!1&5+'=''+C+&*'!C)1&'!.=0+'!().$!
0A%C?&%B+C+&*!,+'!*+$$1*)1$+'E
OOO'*:'>793='4/'BHC'1?88?9340'4P/53<0'/:=3/'4/5Q'07>:93?<0'R'8PS<3?T<:'BCFC!ttt
;A+'*!+&*$+!<+'!,+.D!'<?&%$1)'!+D*$QC+'!u!0%1''+$!
R!K0+$!S!.&+!,+-+!'.((0?C+&*%1$+!2.1!&+!'+$%1*!
(%'!'.(()$*%/0+!,%&'!0%!,.$?+!).!$+<G+$<G+$!0+'!
?<)&)C1+'!()''1/0+'!'%&'!,?B$%,+$! 0+'!'+$51<+'!
)M+$*'!u!2.+!,+5$%1+&*!'+!,?/%-$+!0+'!<G)1D!,+!
()01=2.+!,+'!*$%&'()$*'!,%&'!0+'!C)1'!+*!%&&?+'!
@!5+&1$E
9*%/01! (%$! ,+'! C+C/$+'! ,.! ;+$<0+! ,+'!
#$%&'()$*'! 2.1! '+! ')&*! +&*).$?'! ,+! &)C/$+.D!
<)&'+10'! ,A+D(+$*'! (./01<'! +*! ($15?'>! <+! ,)''1+$!
R! #$%&'()$*'! +*! ,+-+! (./012.+! S! +'*! ,+'=&?! @!
%0+$*+$! 0+'! ,?<1,+.$'! '.$! 0A.$B+&<+! ,+!C+'.$+'!
,+! $+,$+''+C+&*! ,+'! ()01=2.+'! ,+! *$%&'()$*!
<)&,.1*+! (%$! 0A9*%*! +*! (%$! 0+'! <)00+<=51*?'!
*+$$1*)$1%0+'E
:+'! %.*+.$'! ,+! 0A?*.,+! &A)&*! +&! %.<.&! <%'! 0%!
($?*+&=)&!,+!,1<*+$!,+'!,?<1'1)&'!%.!&)C!,A.&!
1C(?$%=I! K&%&<1+$! 2.1! +M%<+$%1*! *).*+! %.*$+!
<)&'1,?$%=)&E! :+.$! '+.0+! ($?)<<.(%=)&!+'*! ,+!
$%((+0+$! 2.+! ,+'! <G)1D! $1B).$+.D! %((%$%1''+&*!
1&?0.<*%/0+'>!C%1'! 2.A10! +D1'*+! .&! 0%$B+! ?5+&*%10!
,+!()''1/101*?'!().$!C%1&*+&1$!+*!,?5+0)((+$!,+'!
'+$51<+'!,+!*$%&'()$*!,+!2.%01*?>!CQC+!,%&'!.&+!
'1*.%=)&! ,+! K&%&<+'! (./012.+'! /+%.<).(! (0.'!
<)&*$%1&*+E
!p!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'-# !&)*6 -&#
#).*+! ()01=2.+! ?<)&)C12.+! +'*>! ).! ,+5$%1*!
Q*$+>! %.F).$,AG.1! ! ($1)$1*%1$+C+&*! <)&*$%1&*+!
(%$!0%!'1*.%=)&!K&%&<1O$+!,+!0%!d$%&<+E!45+<!.&!
+&,+-+C+&*>!%.!'+&'!,+!c%%'*$1<G*>!2.1!,?(%''+!
lH! v! ,.! Y`V>! 0%! C+&%<+! '.$! 0+! K&%&<+C+&*!
,+! 0A?<)&)C1+! ! +'*! <)&'1,?$%/0+E! _&! +M)$*! ,+!
$?,.<=)&!,+!0%!,+-+!+'*!1&,1'(+&'%/0+E
:+! '+<*+.$! ,+'! *$%&'()$*'>! %5+<! ,+'! <)&<).$'!
(./01<'!%&&.+0'!,+!0A)$,$+!,+!Z6!C1001%$,'!,A+.$)'>!
%!.&!1C(%<*!1C()$*%&*!'.$!0A+&,+-+C+&*!(./01<E!
4<*.+00+C+&*>! <+'! <)&<).$'! 'A%<<$)1''+&*! *%&*!
(%$! 0+! $L*GC+! ,+'! 1&5+'=''+C+&*'! 2.+! (%$! 0%!
,?B$%,%=)&! ,+'! <)C(*+'! ,+! I)&<=)&&+C+&*!
,+'!*$%&'()$*'!<)00+<=I'E!
OOO' 928/95'D'G',/0'4>;/:0/0';528?U5/0'97=5/88/0'49:0'8/'0/7=/53'4/0'=39:0;<3=0'OOO
[+0)&!0+'!<)C(*+'!*$%&'()$*!().$!0+'!%&&?+'!
"66p!i;)00+<=51*?'!0)<%0+'j!+*!"676!i9*%*j!\
V''8/0'4>;/:0/0';528?U5/0'4/'W<:7X<::/1/:=!'A?0O5+&*!@!.&!*)*%0!,+!0A)$,$+!,+!"H!C1001%$,'!
,A+.$)'!i<)C(*+!*+&.!,+'!*$%&'I+$*'!<$)1'?'!
9*%*!u!;)00+<=51*?'j!,)&*!\!
9*%*!\!o>n!aw!
;)00+<=51*?'!0)<%0+'!\!"6>"!awE!
x!!8/0' 4>;/:0/0' ;528?U5/0' 4P?:@/0X00/1/:=!().$! 0A%&&?+! "66p! $+($?'+&*+&*! 7n>o! aw!
,A1&5+'=''+C+&*'!,)&*!\
9*%*!\!!8>H!aw!,)&*!\!!
$).*+!i7>lj>!d+$!i7j>!#;_!i6>7Hj
;)00+<=51*?'!\!!
! !78>"!aw!,)&*!\!5)1$1+!ip>Hj>!!
%.*$+'!1&I$%'!i6>pj>!*$%&'()$*'!i">lj
$<?='5:'/Y<3=';528?7'=<=98'9::5/8'4/'8P<343/'4/'HC'1?88?9340'4P/53<0!
:+'!%.*+.$'!)&*!+D%C1&?!!0A1C(%<*!,+'!*$%&'()$*'!
'.$!0+'!K&%&<+'!(./012.+'E!̀ 0'!&A1B&)$+&*!(%'!().$!
%.*%&*!2.+! 0+'! *$%&'()$*'!)&*!,A%.*$+'! 1C(%<*'>!
,A%.*$+'! )/F+<=I'! \! &)*%CC+&*! ! 0%! C)/101*?!
i2.+!/+%.<).(!<)&'1,O$+&*!@!F.'*+!=*$+!<)CC+!
0A)/F+<=I!($1&<1(%0!,+!0%!()01=2.+!,+'!*$%&'()$*'j>!
0%! $?,.<=)&!,+'! $+F+*'!,+!;b">! 0A%C?&%B+C+&*!
,+'! *+$$1*)1$+'>! 0%!()01=2.+! 1&,.'*$1+00+>!+*<E! ! :%!
()01=2.+! &+! ,)1*! (%'! '+! ,?K&1$! .&12.+C+&*!
@! (%$=$! ,+'! K&%&<+'! (./012.+'E! c%1'! ,%&'! 0%!
<)&F)&<*.$+!%<*.+00+>!+00+!,)1*!'?$1+.'+C+&*!!0+'!
($+&,$+!+&!<)C(*+E!
V1+&! 2.A10! &A+D1'*+! (%'! ,A1&,1<%*+.$! B0)/%0>!
<)CC+! (%$! +D+C(0+! ().$! 0A?,.<%=)&! ,%&'!
0Ab;U9>! 0+'! <)C(%$%1')&'! 1&*+$&%=)&%0+'!
(%$=+00+'! <)&,.1'+&*! @! <)&'1,?$+$! 2.+! 0+!
'L'*OC+! ,+! *$%&'()$*! I$%&q%1'! +'*! B0)/%0+C+&*!
,+! /)&! &15+%.! 2.+! <+! ')1*! (%$! 0A?*+&,.+! +*! 0%!
2.%01*?!,+'!1&I$%'*$.<*.$+'!1&*+$.$/%1&+'!<)CC+!
.$/%1&+'!+*!(%$!0A?*+&,.+!+*!0+!($1D!,+'!'+$51<+'!
$+&,.'E! ;+$*+'>! ,+'! ($)B$O'! ')&*! ').G%1*%/0+'>!
&)*%CC+&*! +&! ]?B1)&! `0+3,+3d$%&<+! +*! ().$!
%.BC+&*+$! 0%! <%(%<1*?! ,+'! &k.,'! I+$$)51%1$+'>!
C%1'! 0%! 2.%01*?! ,+! &)'! 1&I$%'*$.<*.$+'! ,+!
*$%&'()$*! +'*! B?&?$%0+C+&*! <)&'1,?$?+! <)CC+!
.&!%*).*!,%&'!0%!<)C(?==)&!1&*+$&%=)&%0+E!
s.+! ,+51+&,$%1+&*! <+'! ()01=2.+'! ,%&'!
0AGL()*GO'+!,+! $+'*$1<=)&'!,+'!/.,B+*'!(./01<'!
i,+! 0A9*%*! +*! ,+'! <)00+<=51*?'! *+$$1*)$1%0+'j!
/+%.<).(! (0.'! I)$*+! 2.A%.F).$,AG.1>! *+00+'! 2.+!
<+00+'!)/'+$5?+'!%<*.+00+C+&*!+&!4&B0+*+$$+>!+&!
9'(%B&+!).!+&!`*%01+!m!s.+0'!().$$%1+&*!Q*$+!0+'!
<G)1D!,+'!%.*)$1*?'!(./012.+'! $+'()&'%/0+'!,+'!
*$%&'()$*'>!I%<+!@!,+'!%$/1*$%B+'!,).0).$+.D!m!
OOO'*:/'4>1937S/'W<:4>/'053'4/5Q'07>:93?<0'7<:=390=>0'OOO
Y).$! ?<0%1$+$! <+! ,?/%*! ,1y<10+>! +*! %&=<1(+$! 0+!
C)C+&*! ).! <+'! <G)1D! ().$$%1+&*! &).'! Q*$+!
1C()'?'!,+! 0A+D*?$1+.$>!.&!<)00+<=I!,A+D(+$*'!,.!
*$%&'()$*! %! ?*%/01>! ,%&'! .&! ,)''1+$! F)1&*>! ,+.D!
'<?&%$1)'!<)&*$%'*?'!(+$C+-%&*!,A%(($?<1+$!!0%!R!
,?$15+!,?K<1*%1$+!S!,.!'+<*+.$!,+'!*$%&'()$*'!+*!
0+'!()''1/101*?'!,A+&!01C1*+$!0+'!+M+*'!\
x!!.&! '<?&%$1)! *+&,%&<1+0! ?5%0.+! 0A%.BC+&*%=)&!
($)/%/0+! ,+'! <)&*$1/.=)&'! (./012.+'!
,+'! *$%&'()$*'! ,%&'! 0+! ($)0)&B+C+&*! ,+'!
*+&,%&<+'! %<*.+00+'! ,+! B+'=)&! ,+'! '+$51<+'>!
+*! ,+! C1'+! +&! k.5$+! ,.! ($)F+*! ,+! '<G?C%!
&%=)&%0! ,+'! 1&I$%'*$.<*.$+'! ,+! *$%&'()$*'!
i[W`#jE! 9&! 0A%/'+&<+! ,+! $+'').$<+'! (./012.+'!
'.((0?C+&*%1$+'>! <+'! %.BC+&*%=)&'! '+!
*$%,.1$%1+&*!(%$!.&!%<<$)1''+C+&*!,+! 0%!,+-+!
!76!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
(./012.+! ,)&*! )&! ,?*+$C1&+! 0+! C)&*%&*!
<.C.0?!'.$!0%!(?$1),+!"6763"686
x!!.&! '+<)&,! '<?&%$1)! R! ,+! ,?'+&,+-+C+&*! S!
$%''+C/0+!0+'!C+'.$+'!'.'<+(=/0+'!,+!01C1*+$!
0+'! <)&*$1/.=)&'! (./012.+'! ,.! *$%&'()$*>! +&!
+D(0)$%&*!0+'!,1M?$+&*'!B1'+C+&*'!,A?<)&)C1+!
()''1/0+! +&! C%=O$+! \! ,+! ($),.<=51*?! ,+'!
'+$51<+'! ,+! B+'=)&! ,A1&I$%'*$.<*.$+'! +*!
,A+D(0)1*%=)&!,+'!*$%&'()$*'>!,+!<)&*$1/.=)&'!
,+'!.'%B+$'!%.D!<)z*'!,.!*$%&'()$*>!,+!'?0+<=)&!
,+'! 1&5+'=''+C+&*'! ,+! C),+$&1'%=)&! +*! ,+!
,?5+0)((+C+&*!,+'!$?'+%.DE
:+!(?$1CO*$+!$+*+&.!!1&<0.*!0A9*%*!+*!0+'!<)00+<=51*?'!
*+$$1*)$1%0+'!C%1'!%.''1!0+'!?*%/01''+C+&*'!(./01<'!
2.1! 0+.$! ')&*! $%-%<G?'! {! (%$! GL()*GO'+>! &).'!
%5)&'! <)&'1,?$?! <+'! ,1M?$+&*'! %<*+.$'! <)CC+!
K&%&<1O$+C+&*! ')01,%1$+'E! ;+-+! GL()*GO'+!
&A1C(012.+!(%'!+&!')1!.&+!$+C1'+!+&!<%.'+!,+'!
<)C(?*+&<+'! &)*%CC+&*! ! ,+'! <)00+<=51*?'!
0)<%0+'!,)&*!0+!<)&*+D*+!K&%&<1+$!+'*!,1M?$+&*!,+!
<+0.1!,+!0A9*%*E
;+'! ,+.D! '<?&%$1)'! ')&*! ,1M?$+&=+0'E! `0'!
C+'.$+&*! ).! ?5%0.+&*! .&+! ,?$15+! ,?K<1*%1$+!
(%$! $%(()$*! %.! ,?K<1*! i).! @! 0A+D<?,+&*j! ,+!
"676>!+*!&)&!(%$!$%(()$*!@!.&!,?K<1*!N?$)E!;+-+!
I%q)&! ,+! ($)<?,+$! %! 0A%5%&*%B+! ,A?<)&)C1'+$!
.&+! ,1'<.''1)&! '.$! 0A%C(0+.$! ,.! ,?K<1*! %<*.+0>!
&)*%CC+&*!'.$!0%!2.+'=)&!,+!'%5)1$!'1!0%!#`;Y9!
+'*!).!&)&!.&+!R$+<+-+S!,.!'L'*OC+!$).=+$E!
!77!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
x!!:+!'<?&%$1)!*+&,%&<1+0!&A+'*!($)/%/0+C+&*!(%'!
R! *+&%/0+! S! K&%&<1O$+C+&*! ().$! 0+'! %<*+.$'!
CQC+!'A10!'+C/0+!C)1&'!<)z*+.D!2.+!<+0.1!,+'!
4''1'+'!,.!I+$$)51%1$+E!
x!!:+!'<?&%$1)!,+!,?'+&,+-+C+&*!+'*! I)&,?!'.$!
,+'! ,?<1'1)&'>! +&! (%$=<.01+$! ().$! 0%!C%|*$1'+!
,+'! ,?(+&'+'! ,+! I)&<=)&&+C+&*>! 2.1! 5)&*!
($)/%/0+C+&*!%.3,+0@!,+!<+!2.1!+'*!1C%B1&%/0+!
%.F).$,AG.1E!`0!'+C/0+!$+0%=5+C+&*!G)C)BO&+!
%5+<! 0A)/F+<=I! ,+! '.(($1C+$! 0+! ,?K<1*! ,+'!
K&%&<+'!(./012.+'E
OOO' 928/95'B'G'6<1;939?0<:'4/0'07>:93?<0'BCFC'Z/:'1?88?9340'4P/53<0'7<:0=9:=0'BCDC['OOO
W%*.$+!,+'!()'*+'!V%'+!
"676[<?&%$1)!*+&,%&<1+0
[<?&%$1)!,+!!
,?'+&,+-+C+&*U1ME
]?'+%.!$).=+$!&%=)&%0 ">l#)*%0!%00?BE!,?K<1*!!
3!78>8!aw
#)*%0!%00+BE!,?K<1*!!
3!Zo!aw38Z
]?'+%.!$).=+$!;)0E!
0)<%0+'78>o
#)*%0!,?K<1*!'.(!!
}!7>8!aw
#)*%0!%00+BE!,?K<1*E!!!
3!7l!aw37p
#$%&'()$*!I+$$)51%1$+!!
&%=)&%0Z>Z
#)*%0!,?K<1*!!'.((0E!!
}!HH!aw!
#)*%0!%00+BE!,?K<1*!!!!
3!"6!aw3oH
#$%&'()$*!!
$?B1)&%0!+*!,?(*!o>6
#)*%0!,?K<1*!!'.((0E!!
}!"Z!aw
#)*%0!%00+BE!,?K<1*!!
3!l!aw38"
#$%&'()$*'!J.51%.D 6>n#)*%0!,?K<1*!'.(!!
}!76!aw
#)*%0!,?K<1*!'.(!!
}!H!aw3H
`&I$%'*$.<*.$+'!!
()$*.%1$+'6>H8
#)*%0!,?K<1*!'.(!!
}!Z!aw
#)*%0!,?K<1*!'.(!!
}!">law37>"
#$E!(./01<!.$/%1&!!
iG)$'!]`dj8>l
#)*%0!,?K<1*!'.((0E!!
}!n!aw
#)*%0!%00+BE!,?K<1*!!!
3!7n!aw3""
#$%&'()$*!<)00E!!!
`0+3,+3d$%&<+n>6n
#)*%0!,?K<1*!'.((0E!!
}!ZZ!aw
#)*%0!%00+BE!,?K<1*!!
3!p!aw3H8
<=98'L>:>398' F\]^ <=98'4>A7?=''05;;8_''
`'DFD'La <=98'988/E_'4>A7?=_'''
G'DDC'LaGBHD
!7"!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
:+!,1M?$+&=+0!,+!"Z6!C1001%$,'!+&*$+!0+'!,+.D!'<?&%$1)'!(+.*!Q*$+!,?<)C()'?!'+0)&!0+'!*$)1'!B$%&,'!
()'*+'!,?*%100?'!,%&'!0+!*%/0+%.!8!\
OOO' 928/95'F'G')>7<1;<0?X<:'45'4?Y>3/:X/8'/:=3/'8/0'4/5Q'07>:93?<0'OOO
D_',9'19b=3?0/'4/0'4>;/:0/0]?'+%.!$).=+$!\! 7"!C1001%$,'!,A+.$)'
]?'+%.!I+$$)51%1$+!&%=)&%0!\! p!C1001%$,'!,A+.$)'
d$+*!I+$$)51%1$+!\! 8!C1001%$,'!,A+.$)'
#$%&'()$*!$?B1)&%0!+*!,?(%$*+C+&*%0!\!! "Z!C1001%$,'!,A+.$)'
d0.51%0!+*!()$*'!\! 6>l!C1001%$,!,A+.$)'
#$%&'()$*!.$/%1&!G)$'!`0+3,+3d$%&<+!\! l!C1001%$,'!,A+.$)'
`0+3,+3d$%&<+! 7n!C1001%$,'!,A+.$)'
B_',/0'3/7/c/0'05;;8>1/:=9?3/0:+'!$+<+-+'!<)CC+$<1%0+'
]?'+%.!I+$$?!&%=)&%0!\!! 7"!C1001%$,'!,A+.$)'
]?'+%.!$?B1)&%0!+*!,?(%$*+C+&*%0!\!! n!C1001%$,'!,A+.$)'
#;_!G)$'!`0+3,+3d$%&<+!\!! "!C1001%$,'!,A+.$)'
`0+3,+3d$%&<+! p!C1001%$,'!,A+.$)'
:+'!R!2.%'13!$+,+5%&<+'!S
:A?<)!$+,+5%&<+!h:!\!! 86!C1001%$,'!,A+.$)'
:+!'*%=)&&+C+&*!\! H!C1001%$,'!,A+.$)'
F_',/0'?:@/0X00/1/:=0]?'+%.!$).=+$!\! 76!C1001%$,'!,A+.$)'
]?'+%.!I+$$)51%1$+!&%=)&%0!\! Z"!C1001%$,'!,A+.$)'
#$%&'()$*!$?B1)&%0!+*!,?(%$*+C+&*%0!\!! "!C1001%$,'!,A+.$)'
d0.51%0!+*!()$*'!\! H>"!C1001%$,'!,A+.$)'
#$%&'()$*!.$/%1&!G)$'!`0+3,+3d$%&<+!\! 7"!C1001%$,'!,A+.$)'
`0+3,+3d$%&<+!\! "6!C1001%$,'!,A+.$)'
7E! _&+! (0.'! ).! C)1&'! B$%&,+! +y<%<1*?! ,%&'!
0%! ($),.<=)&! ,+'! '+$51<+'! ,+! *$%&'()$*! \! 0+!
,1M?$+&=+0!+'*!?5%0.?!@!($O'!,+!o6!C1001%$,'E
"E!_&+!(%$=<1(%=)&!,+'!.'%B+$'!(0.'!).!C)1&'!
($)<G+!,.!<)z*!,.!'+$51<+!$+&,.!\!0+!,1M?$+&=+0!
+'*! ?5%0.?! @! 8"! C1001%$,'! ().$! 0+'! $+<+-+'!
<)CC+$<1%0+'!+*!@!Z6!C1001%$,'!().$!0+'!R!2.%'13
$+,+5%&<+'!SE
8E! _&+! '?0+<=)&! (0.'! ).!C)1&'! $1B).$+.'+! ,+'!
1&5+'=''+C+&*'!\!0+!,1M?$+&=+0!,+!0%!<)&*$1/.=)&!
(./012.+! ,A1&5+'=''+C+&*! +'*! '.(?$1+.$! @!
p6!C1001%$,'!,A+.$)'E
;+!,1M?$+&=+0!(+.*!%.''1!'A+D($1C+$!+&!C)L+&&+!
%&&.+00+!'.$!0%!(?$1),+!')1*!77>H!C1001%$,'!,A+.$)'>!
')1*! 6>n!v! ,.! Y`V! "676E! ;+!C)&*%&*! (+.*! Q*$+!
<)C(%$?!%.!')0,+!/.,B?*%1$+!C%D1C%0!,+!8!v!,.!
Y`V!1&'<$1*!,%&'!0+!($)F+*!,+!*$%1*?!+.$)(?+&E
!78!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN''D_'!d"L-!'e"6('f',"'6!&-$$"#6('')($')d%(#$($')P(g%,&- " -&#
U+(.1'! %.! C)1&'! 76! %&'>! 0+'! ,?(+&'+'!
,A+D(0)1*%=)&!,+'!*$%&'()$*'!<)00+<=I'!<$)1''+&*!
'L'*?C%=2.+C+&*! (0.'! 51*+! 2.+! 0A1&J%=)&>! ,+!
(0.'!,+!"!v!().$!0+'!*$%&'()$*'!.$/%1&'!+&!`0+3,+3
d$%&<+!+*!+&!,+G)$'E!_&+!(%$=+!,+!<+!,?$%(%B+!
+'*! ,.+! @! .&+! %C?01)$%=)&! ,.! '+$51<+E! c%1'!
B0)/%0+C+&*>! 0A%<<$)1''+C+&*! ,+! 0A+y<%<1*?! &+!
<)C(+&'+! (%'! 0A%<<$)1''+C+&*! ,+'! ,?(+&'+'!
+''+&=+00+C+&*! ,+! (+$')&&+0E! ;+-+! *+&,%&<+!
&+!(+.*!,.$%/0+C+&*!(+$'1'*+$E
Y).$*%&*>! 10!&+! '+C/0+!(%'!2.+!,+'!,1C1&.=)&'!
1C()$*%&*+'! ,+! <)z*'! .&1*%1$+'! ')1+&*!
1C()''1/0+'E! :A+D+C(0+! ,+'! #9]! +'*! ?<0%1$%&*! \!
10! +'*! %''+N!B?&?$%0+C+&*!%,C1'!2.+! 0+! <)z*!,.!
*$%1&3~10)CO*$+! +'*! *$O'! '.(?$1+.$! +&! d$%&<+! @!
<+!2.A10!+'*!+&!400+C%B&+E!;+$*+'>!10!(+.*!+D1'*+$!
,+'! $%1')&'! B?)B$%(G12.+'>! ')<1)0)B12.+'! ).!
?<)&)C12.+'!1&*$1&'O2.+'!@!<G%2.+!(%L'E!c%1'!0+'!
%&%0L'+'!2.1!')&*!I%1*+'!0+!')&*!()&<*.+00+C+&*!+*!
&+!')&*!(%'!(./01?+'E!Y).$!?<0%1$+$!0+'!()01=2.+'>!
10!&).'!'+C/0+!&?<+''%1$+!2.A.&+!?*.,+!!,?*%100?+!
,+! <)C(%$%1')&! ,+'! <)z*'! ')1*!C+&?+! ,%&'! .&!
<%,$+!1&<)&*+'*?!i4]4d!).!%.*)$1*?!,A?5%0.%=)&jE!
:+'! ?0.'! ,1'()'+$)&*! %0)$'! ,A?0?C+&*'! ().$!
KD+$! ,+'! )/F+<=I'! ,+!C%|*$1'+! ,+'! ,?(+&'+'! +&!
%C(0+.$! +*! +&! ,?0%1! +*! ,?*+$C1&+$! 0+'! C)L+&'!
<)$$+'()&,%&*'! ().$! 0+'! ,1M?$+&*'! %<*+.$'!
<)&<+$&?'! '%&'! %-+&,$+!).! +&! <)C(0?C+&*!,+!
($)<?,.$+!,+!C1'+!+&!<)&<.$$+&<+E!
U+.D! 5)1+'! ,)15+&*! Q*$+! ().$'.151+'! ().$!
C%|*$1'+$!0A?5)0.=)&!,+'!<+'!,?(+&'+'!\
x!!:%! $+<G+$<G+! ,A.&+! (0.'! B$%&,+! +y<%<1*?!
?<)&)C12.+! (%$! 0+'! 4.*)$1*?'! )$B%&1'%*$1<+'E!
4! <+! =*$+>! 0+! *$%&'I+$*! ,+! <+$*%1&'! '+$51<+'!
I+$$)51%1$+'! '.$! ,+'! %.*)/.'! ).! %.*)<%$'! ,)1*!
Q*$+!+&51'%B?>!'%<G%&*!2.A.&!%.*)<%$!C),+$&+!
?C+*!C)1&'!,+!;b"!(%$!(%''%B+$!D!~C!2.A.&!
#9]!(+.!$+C(01E
x!!_&+! %C?01)$%=)&! ,+! 0%! ($),.<=51*?! ,+'!
+D(0)1*%&*'! ,+! '+$51<+'>! &)*%CC+&*! (%$!
0A).5+$*.$+! %.! (0.'! *P*! @! 0%! <)&<.$$+&<+E!
:%! ;)CC1''1)&! ,.! ;4[! '.$! 0A).5+$*.$+! @! 0%!
<)&<.$$+&<+! ,.! *$%&'()$*! I+$$)51%1$+! ,+!
5)L%B+.$'!%!?5%0.?!@!"n!v!,A1<1!"686!0%!$?,.<=)&!
()''1/0+!,+'!,?(+&'+'>!0+'!*$)1'32.%$*'!,+5%&*!
5+&1$!,+!0A%<<$)1''+C+&*!,+!0%!($),.<=51*?E
Y0.'! *P*! <+'! C+'.$+'! '+$)&*! C1'+'! +&! k.5$+>!
(0.'! 0+.$! 1C(%<*! '.$! 0%! ,?$15+! /.,B?*%1$+! '+$%!
1C()$*%&*E
9&!<+!2.1!<)&<+$&+!0%!5)1$1+!0)<%0+>!0+'!<)&*$%1&*+'!
2.1! (O'+&*! '.$! 0+'! /.,B+*'>! +&! (%$=<.01+$! ,+'!
U?(%$*+C+&*'>!')&*!.&!(.1''%&*!%<<?0?$%*+.$!,+!
$?,.<=)&!,+'!,?(+&'+'E! :+'!%.*+.$'! $+B$+-+&*!
2.%&,! CQC+! 2.A10! +D1'*+! (+.! ,A1&,1<%*+.$'! ,+!
B+'=)&!(+$C+-%&*!%.D!$+'()&'%/0+'!,A%(($?<1+$!
0+.$'!(+$I)$C%&<+'E!
NNN''B_')($'M"!L($')('M"#h*i!('f'* -,-$(!'$*!',($'!(6( ($'6&MM(!6-",($
:+'! $+<+-+'! <)CC+$<1%0+'! ,+'! *$%&'()$*'!
.$/%1&'>! ,?(%$*+C+&*%.D! +*! $?B1)&%.D! &+!
<).5$+&*!2.+!"6!@!86!v!,+!0A+&'+C/0+!,+'!<)z*'>!
$%=)! +&! <)&'*%&*+! ,1C1&.=)&! ,+(.1'! "6! %&'E!
U+!(0.'>!0+'!<01+&*'!&+!')&*!(%'!,%&'!0A+&'+C/0+!
1&I)$C?'!,+!<+-+!'1*.%=)&E
_&+!B$%&,+!(%$=+!,+'!$+'()&'%/0+'!,+'!')<1?*?'!,+!
*$%&'()$*!+*!').5+&*!,+'!%.*)$1*?'!()01=2.+'!(+&'+&*!
2.A10!+D1'*+!.&+!()''1/101*?!,A%.BC+&*+$!<+'!$+<+-+'>!
,1C1&.%&*!%1&'1!0%!<)&*$1/.=)&!,+'!/.,B+*'!(./01<'!
%.!K&%&<+C+&*!,+'!*$%&'()$*'E!;+-+!%.BC+&*%=)&!
,+5$%1*! Q*$+! I%1*+! ,+! C%&1O$+! C),.0?+! ().$! *+&1$!
<)C(*+!,+'!$+'').$<+'!,+'!<01+&*'E!
;+-+! %y$C%=)&! C?$1*+$%1*! ,AQ*$+! %((.L?+!
(%$! .&+! %&%0L'+! (0.'! <)C(0O*+! ,+'! ()01=2.+'!
*%$1I%1$+'! C1'+'! +&! k.5$+! ).! +&51'%B?+'! (%$!
0+'! (%L'! <)C(%$%/0+'! %.! &P*$+E! :%! ;).$! ,+'!
;)C(*+'!%!<)CC+&<?!@!0+!I%1$+!,%&'!')&!$%(()$*!
'.$! 0+'! *$%&'()$*'! I+$$?'! +&! `0+3,+3d$%&<+E! Y).$!
*).*+'! <+'! $%1')&'>! 0+'! %.*+.$'! )&*! $+*+&.! .&+!
<$)1''%&<+!,+!7!@!"!v!(%$!%&!+&!*+$C+!$?+0!!,+'!
*%$1I'!,%&'!0+!'<?&%$1)!,+!,?'+&,+-+C+&*E!
Y%$%00O0+C+&*>!10!'+$%1*!0?B1=C+!,A%.BC+&*+$!0+'!
<)z*'!,A.=01'%=)&!,+! 0%! 5)1*.$+! i'*%=)&&+C+&*!
).! (?%B+! .$/%1&! 5)1$+! ?<)*%D+j! ,%&'! 0+'!
%BB0)C?$%=)&'! ,+&'+'! 2.1! ,1'()'+&*! ,+!
')0.=)&'!%0*+$&%=5+'!,+!C)/101*?E
!7Z!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN''F_')($''%&,- -.*($')P-#i($ -$$(M(# $')&# ',Pdi",*" -&#')&- 'j !('"Md,-&!d(
:+'!1&5+'=''+C+&*'!<)&<+$&%&*!0+!$?'+%.!$).=+$!
&%=)&%0!')&*!I%1/0+'!,%&'!0+!'<?&%$1)!*+&,%&<1+0!
+*! ($%=2.+C+&*! $?,.1*'! %.D! '+.0+'! )(?$%=)&'!
,+!$?B?&?$%=)&!+*!,+!'?<.$1*?!,%&'! 0+!'<?&%$1)!
,+!,?'+&,+-+C+&*E!:+'!?<)&)C1+'!&+!(+.5+&*!
,)&<!5+&1$!2.+!,+'! 1C()$*%&*'!($)B$%CC+'!,+!
*$%&'()$*!(./01<>!+''+&=+00+C+&*!I+$$)51%1$+>!2.1!
')&*!%.F).$,AG.1!($?5.'E
U+.D! )(?$%=)&'! 1C()$*%&*+'>! :L)&3#.$1&! +*!
[+1&+3W)$,!9.$)(+>!)&*!<)CC+!)/F+<=I!($1&<1(%0!
.&+! '*$%*?B1+! +.$)(?+&&+E! :AG1'*)$12.+! ,+'!
?5%0.%=)&'!'.<<+''15+'!&).'!1&<1*+!@!($?<)&1'+$!
.&! &).5+%.! /10%&! ,%&'! .&! <%,$+! 1C(%$=%0E! U+!
(0.'>! 5.! 0+'! <)&*$%1&*+'! K&%&<1O$+'! &%=)&%0+'>!
0%! (%$*! ,.! K&%&<+C+&*! +.$)(?+&! ,%&'! <+'!
)(?$%=)&'!,+5$%1*!,+5+&1$!C%F)$1*%1$+E!
:+'! ($)F+*'! ,+! 01B&+'! I+$$)51%1$+'! @! B$%&,+!
51*+''+! i:ahj! )&*! ,+'! *$%K<'! ($?51'1)&&+0'! 2.1!!
F.'=K+&*!,1y<10+C+&*! 0+'! <)z*'! 1C()$*%&*'!,+'!
1&5+'=''+C+&*'E!:+'!)(?$%=)&'!0+'!(0.'!+y<%<+'!
)&*! ?*?! $?%01'?+'! ,%&'! 0+'! *$+&*+! ,+$&1O$+'!
%&&?+'!+*!0+'!B%1&'!$+0%=I'!+&!*+C('!<)CC+!+&!
*$%K<!'A%5O$+&*!,+!C)1&'!+&!C)1&'!1C()$*%&*'!@!
C+'.$+!,+'!&).5+00+'!)(?$%=)&'!+&B%B?+'E!;+-+!
,)&&?+!%M+<*+!($)I)&,?C+&*!0+'!<)&,1=)&'!,+!
K&%&<+C+&*E!U?F@!#).$'3V)$,+%.D!,+C%&,+!.&!
K&%&<+C+&*!,+!(0.'!,+!C)1=?!(%$! './5+&=)&E!
:+'!?5%0.%=)&'!,+!K&%&<+C+&*!,+!0%!:ah!Y4;4!
&+! ($+&&+&*! +&! <)C(*+! 2.A.&+! (%$*! ,+! 76! v!
K&%&<?! (%$! 0+! *$%K<E! :+'! ?5%0.%=)&'! %<*.+00+'>!
2.%&,! +00+'! +D1'*+&*>! &).'! '+C/0+&*! +&*%<G?+'!
,+! R! /1%1'! ,A)(=C1'C+! SE! `0! I%.,$%1*! ,)&<! 0+'!
$?3+D(+$='+$! +&! ($+&%&*! /1+&! 'z$! +&! <)C(*+!
0A1C(%<*!'.$!0A%C?&%B+C+&*!,+'!*+$$1*)1$+'!+*!'.$!
0A+&51$)&&+C+&*E
Y).$!0+!$?'+%.!,.!a$%&,!Y%$1'>!0+'!($?51'1)&'!,+!
*$%K<!+*!%! I)$=)$1! 0+'!?5%0.%=)&'!')&*!+&!<).$'!
,+! $?%01'%=)&E! U+! &).5+%.D! 1&5+'=''+C+&*'!
')&*!<+$*%1&+C+&*!&?<+''%1$+'!().$!$?()&,$+!@!
0A%<<$)1''+C+&*!,+!*$%K<!*$%5+$'%&*!0+!<+&*$+!,+!
0A%BB0)C?$%=)&!+*!@!0%!*$O'!C%.5%1'+!2.%01*?!,+!
<+$*%1&'! '+$51<+'E! :A1C()$*%&<+! ,.! ($)B$%CC+>!
0+'! <)z*'! $+*+&.'! ().$! 0+'! )(?$%=)&'>! 0+'!
*$%K<'!($?5.'>! 0A%.BC+&*%=)&!<)&'?2.+&*+!,+'!
,?(+&'+'! ,A+D(0)1*%=)&!C?$1*+&*! <+$*%1&+C+&*!
.&!+D%C+&!,?*%100?>!&)*%CC+&*!().$!0+'!$)<%,+'!
I+$$)51%1$+'!,%&'!,+'! N)&+'!(+.!.$/%&1'?+'E!U+!
(0.'>! 0+!K&%&<+C+&*!(%$=+0!,.!($)B$%CC+!(%$!
.&+!$+'').$<+!K'<%0+!&).5+00+!?2.15%.*>!,%&'!0%!
,?C%$<G+! $+*+&.+>! @! .&! %0).$,1''+C+&*! ,+! 0%!
R!,+-+!SE
`0! &A%((%$=+&*! (%'! %.D! %.*+.$'! ,+! <+-+! ?*.,+!
,+!($?<)&1'+$!).!&)&!*+0!*L(+!,A1&5+'=''+C+&*E!
Y%$! <)&*$+>! 10'!+'=C+&*!+''+&=+0!2.+!<+'! <G)1D!
'+! I%''+&*! ,%&'! .&+! (0.'! B$%&,+! <0%$*?! +*! .&+!
)/F+<=51*?!$+&I)$<?+!\
OOO'63>/3'5:/'95=<3?=>'?:4>;/:49:=/'4P>@9859X<:'OOO
:+'! ?5%0.%=)&'>! $+&,.+'!)/01B%*)1$+'!(%$! 0%! :)1!
,+!7pl"!,A)$1+&*%=)&!,+'!*$%&'()$*'! 1&*?$1+.$'>!
')&*!%<*.+00+C+&*!$?%01'?+'!(%$!0+'!I.*.$'!C%|*$+'!
,A).5$%B+!'%&'!<)&*$P0+! 1&,?(+&,%&*!&1!<)&*$+3
+D(+$='+>! <+! 2.1! C+*! +&! <%.'+! 0+.$! K%/101*?E!
:%! ')(G1'=<%=)&! <$)1''%&*+! ,+'! C?*G),+'!
<)C(012.+! 0%! <)C($?G+&'1)&! ,+'! (G?&)CO&+'!
'%&'! %C?01)$+$! 0+.$! ($1'+! +&! <)C(*+! (%$! 0+'!
$+'()&'%/0+'! ,+'! ?*.,+'E! ;+'! ?5%0.%=)&'>!
().$! Q*$+! <$?,1/0+'! +*! +y<%<+'>! &+! (+.5+&*!
Q*$+! <)&,.1*+'! ,%&'! .&! <%,$+! ,?(+&,%&*! ,+'!
%,C1&1'*$%=)&'E
:+'! %.*+.$'! ($)()'+&*! ,)&<! 2.+! ')1*! <$??+!
.&+! 4.*)$1*?! 1&,?(+&,%&*+! ,A?5%0.%=)&! 2.1!
<)&*$P0+$%1*!<+'!?5%0.%=)&'!2.1!'+$%1+&*!').C1'+'!
@!')&!%<<)$,E!900+!($+'<$1$%1*!+&!*%&*!2.+!,+!/+')1&>!
0+'! <)C(0?C+&*'! ).! <)&*$+3+D(+$='+'! 2.1! 0.1!
(%$%|*$%1+&*!&?<+''%1$+'E! :+'!%.*)$1*?'!()01=2.+'!
$+'()&'%/0+'! ,+! 0%! ,?<1'1)&! ,+! $?%01'%=)&! ,+!
0A1&I$%'*$.<*.$+! <)&'1,?$?+! &+! '+$%1+&*! /1+&!
+&*+&,.!(%'!,+''%1'1+'!,+!0+.$!().5)1$E
OOO'#/';90'/:E9E/3'4/'4>29=';528?7'09:0'5:'1?:?151'4P>@9859X<:';3>98928/!OOO
:+'!,?/%*'!(./01<'!,+!&)C/$+.'+'!)(?$%=)&'!')&*!
0%&<?'!'%&'!0+!C1&1C.C!,+!,?K&1=)&!,+!0A)/F+<=I!
+*! ,+'! ')0.=)&'! 2.1! (+$C+-+&*! ,A%(($?<1+$!
'A10! <)&51+&*! ,A+&51'%B+$! .&! 1&5+'=''+C+&*E! `0!
!7H!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
'+C/0+! 2.+! 0%! ;)CC1''1)&! &%=)&%0+! ,.! ,?/%*!
(./01<! ')1*! ,+! <+! ()1&*! ,+! 5.+! (0.'! *)0?$%&*+!
2.A+00+!&+! 0A%!?*?E!Y%$C1! 0+'!)(?$%=)&'!,)&*! 0+'!
,?/%*'! )&*! ?*?! 0%&<?'! $?<+CC+&*>! .&! <+$*%1&!
&)C/$+! &).'! (%$%1''+&*! ($)C1'+'! @! 0A?<G+<>!
0+'! %5%&*%B+'! ($?5.'! $1'2.%&*! ,+! '+! $?5?0+$!
'%&'! ($)()$=)&! %5+<! 0+! <)z*! ,+! 0A)(?$%=)&E!
`0! '+$%1*! ,)&<! $%1')&&%/0+! 2.A%5%&*! ,A+&B%B+$!
,+! 0).$,+'! ,?(+&'+'! ,+! <)CC.&1<%=)&! +*!
,A?*.,+'>!').5+&*!(0.'1+.$'!!,1N%1&+'!,+!C1001)&'!
,A+.$)'>! 0A)(?$%=)&! ')1*! .&! (+.!C1+.D! ,?K&1+>!
,+! ')$*+! 2.A.&+! ?5%0.%=)&! ')CC%1$+! (.1''+!
Q*$+! +M+<*.?+E! :A4.*)$1*?! ($)()'?+! (0.'! G%.*!
,+5$%1*!,)&&+$!')&!%B$?C+&*!@!<+-+!?5%0.%=)&!
2.1!,+5$%1*!<)C($+&,$+!.&!5)0+*!K&%&<1+$!CQC+!
')CC%1$+E
Y).$! <)&<0.$+! '.$! <+! '.F+*>! 0%! $?%01'%=)&! ,+!
<+'! )(?$%=)&'! &+! (+.*! Q*$+! +&*$+($1'+! %5%&*!
(0.'1+.$'!%&&?+'!+*!10!&+!I%.,$%1*!(%'!+&!%-+&,$+!
,A+M+*!,+!$+0%&<+!,%&'!0%!<$1'+!%<*.+00+E
NNN'6,*$-&#
:%!()01=2.+!,+'!*$%&'()$*'!%<*.+00+C+&*!%y<G?+!
&+! (+.*! Q*$+! ().$'.151+! '%&'! C+-$+! +&! (?$10!
0%! 5)0)&*?! B?&?$%0+! ,+! ,?'+&,+-+C+&*! ,+! 0%!
d$%&<+E!̀ 0!I%.,$%!*$O'!<+$*%1&+C+&*!'+!$%(($)<G+$!
,.!'<?&%$1)!,+!,?'+&,+-+C+&*E!:+'!%.*+.$'!)&*!
0%!<)&51<=)&!\
x!!2.A10! +D1'*+! ,+'! ')0.=)&'! ().$! $?')$/+$! 0+!
,?$%(%B+! ,+'! ,?(+&'+'! ,+! I)&<=)&&+C+&*!
*).*!+&!C%1&*+&%&*!0%!2.%01*?!,+!'+$51<+!().$!
0+'!.'%B+$'!{
x!!2.A10! +'*! ').G%1*%/0+! 2.+! 0+'! .'%B+$'!
<)&*$1/.+&*!(0.'!%.D!<)z*'!,+!I)&<=)&&+C+&*!
,+'! *$%&'()$*'! <)00+<=I'! @! <)&,1=)&! ,+!
,?5+0)((+$! ,+'! *%$1I'! ')<1%.D! *+&%&*! C1+.D!
<)C(*+!,+'!$+'').$<+'!01C1*?+'!,+!<+$*%1&'!,+!
0+.$'!/?&?K<1%1$+'!{
x!!2.+! 0+! 5)0.C+! ,+'! 1&5+'=''+C+&*'! ($?5.!
().$! 0+'! ,+.D! ,?<+&&1+'! @! 5+&1$! (+.*! Q*$+!
'?$1+.'+C+&*! $?,.1*! '1! ,+'! ?5%0.%=)&'! ')<1)3
?<)&)C12.+'! +*! K&%&<1O$+'! K%/0+'! ')&*!
$?%01'?+!+*!($1'+'!+&!<)&'1,?$%=)&E
:%!$?,.<=)&! 1&?0.<*%/0+!,+! 0%!,?$15+!,?K<1*%1$+!
,.! I)&<=)&&+C+&*! ,+'! *$%&'()$*'! <)00+<=I'>!
2.1! 1C(012.+! 0A9*%*! +*! 0+'! <)00+<=51*?'! 0)<%0+'>!
+&*$%|&+$%! ,+'! ,1y<.0*?'! ()01=2.+'! +*! ')<1%0+'!
<)&'1,?$%/0+'! 2.A10! 'A%B1''+! ,+! 0%! $?,.<=)&! ,.!
$L*GC+! ,+! <$)1''%&<+! ,+'! ,?(+&'+'! ).! ,A.&+!
%.BC+&*%=)&! ,+'! $+<+-+'! <)CC+$<1%0+'E! W+!
(%'!0%!$?%01'+$!'+$%1*!($)/%/0+C+&*!$+&)&<+$!%.!
,?'+&,+-+C+&*! ).! ($)5)2.+$! ,+'! ,1y<.0*?'!
C%F+.$+'! ,%&'! ,A%.*$+'! '+<*+.$'! ,+! 0%! 51+!
<)00+<=5+!<)CC+!0A?,.<%=)&>!0%!$+<G+$<G+!).!0%!
'%&*?E!
!7n!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
!7o!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
:+!U)''1+$
!7o!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
!7l!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'-# !&)*6 -&#'k'.*(,$',-(#$'
(# !(' !"#$%&! $'( ')( ('
%*+,-.*('l
:+!($)/0OC+!,+!0A+&,+-+C+&*!(./01<!+'*!<$.<1%0!
().$! &)*$+! (%L'E! ;)CC+! ').01B&+! .&! $?<+&*!
$%(()$*! ,+! c1<G+0! ;%C,+''.'! %.! Y$+C1+$!
c1&1'*$+7>! R! 0A%<<.C.0%=)&! ,+! 0A+&,+-+C+&*>!
+&! <$)1''%&<+! *$O'! $%(1,+! +&! $%1')&! ,+! 0%! <$1'+!
%<*.+00+>! I%1*! (+'+$! .&+! <G%$B+! ,+! (0.'! +&! (0.'!
0).$,+! '.$! 0+'! /.,B+*'! I.*.$'! +*! %/).=*! @!
*$%&'I?$+$!%.D!B?&?$%=)&'!@!5+&1$!u!2.1!%.$)&*!@!
I%1$+!I%<+!%.!51+1001''+C+&*!,+!0%!()(.0%=)&!u!0+!
()1,'! ,+!&)'! I%<101*?'! ,A%.F).$,AG.1r! :%! d$%&<+!
'+! *$).5+! ,)&<! @! ($?'+&*! <)&I$)&*?+! @! ,+'!
,?'?2.101/$+'!C%<$)?<)&)C12.+'!+*!/.,B?*%1$+'!
,+! B$%&,+! %C(0+.$>! 2.1! &+! '+! $?').,$)&*! 2.+!
,%&'! 0%! ,.$?+! +*! %.! ($1D! ,A.&+! *$O'! B$%&,+!
<)&=&.1*?!,+!&)'!()01=2.+'!(./012.+'!SE
;)CC+! ,A%.*$+'! '+<*+.$'! ,+! 0A?<)&)C1+>! 0+'!
*$%&'()$*'! )&*! *).F).$'! /?&?K<1?! ,+! I)&,'!
(./01<'>!*%&*!().$!0+!I)&<=)&&+C+&*!,+'!'+$51<+'!
2.+!().$!0+!,?5+0)((+C+&*!,+'!1&I$%'*$.<*.$+'E!
T.'=K?!@!0A)$1B1&+!(%$!0+!($1&<1(+!')<1%0!,.!,$)1*!
%.! *$%&'()$*!+*!(%$! 0+'!+M+*'!?<)&)C12.+'!,+'!
1&I$%'*$.<*.$+'>!0+!5)0.C+!,+!<+'!%1,+'!(./012.+'!
%M+<*?+'!%.!*$%&'()$*>!*%&*!(%$!0A9*%*!2.+!(%$!0+'!
;)00+<=51*?'! 0)<%0+'>! +'*310! %.F).$,AG.1! +*! '+$%3
*310! ,+C%1&! <)C(%=/0+! %5+<! 0+'! +D1B+&<+'! ,+!
C),?$%=)&!,+!0%!,?(+&'+!(./012.+!m
OOO'(Q=39?=0'45'39;;<3='053'89'0?=59X<:'4/0'A:9:7/0';528?U5/0"'OOO'''
@"J&I#!,G"#!",."%/2*!>"%=!*)",=2(*&K*.()!"'.L)/2*!"#!"($*"%$'<)!*"<&1,2%*>".&"%$&/*"#!*")/!()!"#!/(2M/!*"
.((+!*>"?&2"!*)"!("%.&*!9"J,$/*"?&=G",."N("#!*".((+!*"OP>"($*"N(.(%!*"<&1,2?&!*"+).2!()"!(%$/!"<./'2"
,!*"<,&*"*.2(!*>",!&/"*2)&.Q$("*=!*)"!(*&2)!"#+0/.#+!>"%$''!"!(")+'$20(!",."'$()+!"2(2()!//$'<&!"
#&"<$2#*"#!",."#!R!"<&1,2?&!"#.(*",!"S3T9
A!<&2*"<,&*"#!"UP".(*>",!*"N(.(%!*"<&1,2?&!*":/.(V.2*!*"$()"+)+"!("#+N%2)"#!"'.(2M/!"<!/'.(!()!999"
$(*+?&!(%!"#!"%!*"#+N%2)*"/+%&//!()*>",."#!R!"<&1,2?&!"."#!"*$("%W)+".&0'!()+"#!"'.(2M/!"?&.*2"
%$(Q(&!"7".R!20(.()"G"<!2(!"XP"Y"#&"S3T"G",."N("#!*".((+!*"Z[OP>"!,,!".":/.(%-2",!"*!&2,"#!"\P"Y"#&"
S3T"!("XPPX"!)".<</$%-!"]P"Y"#&"S3T"!("XPP["B9
)/c/'95'0/:0''4/'M990=3?7S=''/:';93='4/'%-+
4T9"^("XPZZ>",."#!R!"<&1,2?&!"
#!D.2)".R!2(#/!""
</M*"#!"Z]PP"'2,,2./#*"#=!&/$*"
*$2)"<,&*"#!"]_"Y"#&"S3T
Z"`.<<$/)"#!",." $''2**2$("</+*2#+!"<./"a9"a2%-!," .'#!**&*"*&/",."/M0,!"%$(*Q)&Q$((!,,!"#=+?&2,21/!"#!*"N(.(%!*"<&1,2?&!*"b"F&2("XPZPX"c/$&<!"#!")/.D.2,"%$</+*2#+"<./"aa9"d!.(IS-2,2<<!" $Q*"!)"S.&," -.'<*.&/"b"'.2"XPZP
!7p!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
OOO'&2m/='/=';<3=>/'4/'8P>=54/'OOO'''
:+!;+$<0+!,+'!#$%&'()$*'!%!,?<1,?!,+!<)&'%<$+$!
.&+!(%$=+!,+!'+'! *$%5%.D!@! 0%! <)&*$1/.=)&!,+'!
*$%&'()$*'!@!0A?5)0.=)&!,+!0%!,+-+!(./012.+>!+&!
$%1')&! &)*%CC+&*! ,+'! ?<%$*'! <$)1''%&*'! +&*$+!
0+'! <).*'! ,+'! 1&I$%'*$.<*.$+'! +*! ,+'! '+$51<+'!
,+! *$%&'()$*! +*! 0+'! $+'').$<+'! <)CC+$<1%0+'!
%<2.1-?+'!(%$!0+'!.'%B+$'E!!;+-+!?*.,+!+D%C1&+!
0A1C(%<*!,+'!*$%&'()$*'!'.$!0+'!K&%&<+'!(./012.+'E!
900+! 51'+! @! %(()$*+$! %.D! ,?<1,+.$'! (./01<'! ,+'!
?0?C+&*'!,A%(($?<1%=)&!'.$!0%!,?$15+!%<*.+00+!,.!
,?K<1*!(./01<!,.!'+<*+.$!,.!*$%&'()$*!+*!'.$!!0+'!
)(()$*.&1*?'!+*!C)L+&'!,+!01C1*+$!<+'!$1'2.+'E!
[+'!%.*+.$'!&A1B&)$+&*!(%'!().$!%.*%&*!2.+! 0+'!
*$%&'()$*'!)&*!,A%.*$+'!1C(%<*'>!,A%.*$+'!)/F+<=I'>!
?<)&)C12.+'>!')<1%.D!+*!+&51$)&&+C+&*%.DE!![1!
0%!()01=2.+!&+!(+.*!(%'!'+!,?K&1$!.&12.+C+&*!@!
(%$=$!,+'!K&%&<+'!(./012.+'>!+00+!,+5$%1*!,%&'!0%!
<)&F)&<*.$+! %<*.+00+>! ($+&,$+! '?$1+.'+C+&*! +&!
<)C(*+! 0%! '1*.%=)&! ,+'! K&%&<+'! (./012.+'E! 9&!
).*$+>!+*!'%&'!+&!($?'+&*+$!1<1!.&+!%&%0L'+!K&+>!
0+'! %.*+.$'! +'=C+&*! 2.+! 0+'! 1&J?<G1''+C+&*'!
2.A10'!($?<)&1'+&*!&A%.$%1+&*!($)/%/0+C+&*!(%'!
,A1&<1,+&<+'! C%F+.$+'! '.$! 0+'! (+$'(+<=5+'! ,+!
$?%01'%=)&!,+!<+'!%.*$+'!)/F+<=I'E
OOO')>1937S/'05?@?/'OOO
:%! ,?C%$<G+! +'*! @! <%$%<*O$+! ?<)&)C12.+! +*!
K&%&<1+$E! 900+! <)&'1'*+! @! %(($?<1+$! ,+! I%q)&!
,1M?$+&=+00+>! @! (%$=$! ,+! 0%! '1*.%=)&! %<*.+00+>!
0A)$,$+! ,+! B$%&,+.$! ,+'! 1C(%<*'! '.$! 0%! ,+-+!
(./012.+! ,+! ,1M?$+&*'! '<?&%$1)'! ,+! C+'.$+'!
,A+D(0)1*%=)&! +*! ,A1&5+'=''+C+&*'! ,%&'! 0+!
'+<*+.$!,+'!*$%&'()$*'E!
;G%2.+! '<?&%$1)! ,?*+$C1&+! 0+'! 5%$1%=)&'! ,+'!
,?(+&'+'!(./012.+'!,+!0A9*%*!+*!,+'!<)00+<=51*?'!
0)<%0+'! %M+<*?+'! %.D! *$%&'()$*'! +&*$+! "676!
+*! "686>! (%$! ,1M?$+&<+! +&*$+! 0A?5)0.=)&!
,+'! ,?(+&'+'! *)*%0+'! +*! <+00+'! ,+'! $+<+-+'!
<)CC+$<1%0+'E!:+!<.C.0!,+!<+'!5%$1%=)&'!'.$!0%!
(?$1),+!,+!"6!%&'>!,?*+$C1&+!0%!5%$1%=)&!,+!0%!
R!,+-+!S!i,?$15+!,?K<1*%1$+j!01?+!%.D!*$%&'()$*'!@!
0AG)$1N)&!"686E
:+'! $+<+-+'! K'<%0+'! ,)15+&*! I%1$+! 0A)/F+*! ,A.&!
+D%C+&!'?(%$?>!&)&!($1'!+&!<)C(*+!,%&'!<+-+!
?*.,+!\!+&!+M+*>!+00+'!().$$%1+&*!0+!(0.'!').5+&*!
Q*$+! %M+<*?+'! @! ,A%.*$+'! )/F+*'>! +&! (%$=<.01+$!
%.! ,?'+&,+-+C+&*! (./01<! B0)/%0E! :+'! 01+&'!
+&*$+! 0+! *$%&'()$*! +*! <+$*%1&+'! $+<+-+'!K'<%0+'!
i0%!#`;Y9!+*! 0+!h#j!')&*! *).*+I)1'! $%((+0?'!,%&'!
0+'!K<G+'!(%$!,)C%1&+!i5)1$!,+.D1OC+!(%$=+!,.!
,)<.C+&*jE
)/5Q'07>:93?<0!')&*!($)()'?'!@!0AG)$1N)&!"686!\
x!'5:'07>:93?<'D'=/:49:7?/8!>!,%&'!0%!<)&=&.1*?!,+'!
?5)0.=)&'!)/'+$5?+'!+&!C%=O$+!,+!,?(+&'+'!
,A+D(0)1*%=)&!+*!,+!$+<+-+'!<)CC+$<1%0+'>!+*!
+&!+D?<.=)&!,+'!,?<1'1)&'!()01=2.+'!%y<G?+'!
%.F).$,AG.1! i[W`#! ,%&'! '%! 5+$'1)&! ,A)<*)/$+!
"677>!a$%&,!Y%$1'>!(?%B+'!]dd!F.'2.A+&!"67l>EEj!
,%&'!.&+!)(=2.+!*+<G&12.+C+&*!$?%01'*+!{!
x!'5:'07>:93?<'B'4/'4>0/:4/c/1/:=>!2.1!$1'2.+!
,+! &).'! Q*$+! 1C()'?! (%$! ,+'! <)&*$%1&*+'!
,A+&,+-+C+&*! (./01<>! +*! <)&,.1$%1*! @! ,+'!
$+'*$1<=)&'! /.,B?*%1$+'! ,%&'! 0+! '+<*+.$!
,+'! *$%&'()$*'! ()$*%&*! @! 0%! I)1'! '.$! 0+!
I)&<=)&&+C+&*!+*!'.$!0+'!1&5+'=''+C+&*'E
;+'! ,+.D! '<?&%$1)'! ')&*! ,1M?$+&=+0'! \! 10'!
C+'.$+&*!).!?5%0.+&*!.&+!R!,?$15+!,?K<1*%1$+!S!
(%$!$%(()$*!@! 0%!'1*.%=)&!"676!i,?F@!,?K<1*%1$+!
,%&'!<+$*%1&'!'+<*+.$'!,.!*$%&'()$*j>!+*!&)&!(%$!
$%(()$*!@!.&!R!,?K<1*!N?$)!SE
OOO'6<:=/:5'45'4<00?/3'OOO
`0!<)C($+&,!\
x!!:%!($?'+&*%=)&!,+'!,+.D!'<?&%$1)'!,A?5)0.=)&!
,+'! *$%&'()$*'! @! 0AG)$1N)&! "686! +*! ,+! 0+.$!
1C(%<*! '.$! 0%! ,?$15+! ,?K<1*%1$+! (./012.+! ,.+!
%.D! ,1M?$+&*+'! C+'.$+'! ,A+D(0)1*%=)&! +*!
,A1&5+'=''+C+&*!2.1!0+'!<)C()'+&*!{
x!!!:%!,+'<$1(=)&!,+!0%!'1*.%=)&!+*!,+'!GL()*GO'+'!
,A?5)0.=)&!$+*+&.+'!,%&'!<+'!,+.D!'<?&%$1)'>!
().$!<G%<.&!,+'!,)C%1&+'!,.!*$%&'()$*!{
x!!U+'! <)&*$1/.=)&'! ,A+D(+$*'! $+0%=5+'! @! 0%!
').*+&%/101*?!,+!0%!R!,+-+!S>!@!0%!($)/0?C%=2.+!
,+! 0%!,+-+!,.!*$%&'()$*>!+*!@! 0A?5%0.%=)&!,+'!
($)F+*'!,A1&I$%'*$.<*.$+E
!"6!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'D_',('%d!-Mn !(( ',"')dM"!6K('!( (#*$
:+'! '<?&%$1)'! )&*! ().$! )/F+*! ,A%(($?<1+$! 0+'!
1C(%<*'>! '.$! 0+'! /.,B+*'! (./01<'>! ,+! C+'.$+'!
,A+D(0)1*%=)&! +*! ,A1&5+'=''+C+&*'! ,%&'! 0+!
'+<*+.$!,+'!*$%&'()$*'E!:A%(($)<G+!,1M?$+&=+00+!
,+! <+-+! ,?C%$<G+! <)&,.1*! @! +D%C1&+$>! %&&?+!
%($O'! %&&?+>! 0+'! 5%$1%=)&'! ,+'! ,?(+&'+'!
(./012.+'!%M+<*?+'!%.! *$%&'()$*!2.1>! <.C.0?+'!
'.$!.&+!(?$1),+! 0)&B.+!iG)$1N)&!"686!,.![W`#j!
,?*+$C1&+&*!.&+!,?$15+!,.!,?K<1*!(./01<!i+&!)$,$+!
,+!B$%&,+.$jE!;+*!1&,1<%*+.$!,+!,?$15+!,?K<1*%1$+!
(+.*!'+!*$%,.1$+>!'+0)&!0%!()01=2.+!$+*+&.+>!')1*!
(%$! .&+! ()&<=)&! K'<%0+! '.((0?C+&*%1$+>! ')1*!
(%$!.&!+&,+-+C+&*!(./01<!'.((0?C+&*%1$+E!
:+! (?$1CO*$+! ,+! 0A?*.,+! ($+&,! +&! <)C(*+! 0+'!
,?(+&'+'!(./012.+'!,+!0A9*%*!+*!,+'!<)00+<=51*?'!
0)<%0+'! %M+<*?+'! %.D! %<=51*?'! ,.! *$%&'()$*!
%.! '+&'! 0%$B+! 1&<0.%&*! (%$! +D+C(0+>! ().$! 0+'!
)(?$%*+.$'>!0%!,1M?$+&<+!+&*$+!0+'!,?(+&'+'!+*!0+'!
$+<+-+'!<)CC+$<1%0+'>!%1&'1!2.+!0+'!,+-+'!&)&!
$+C/).$'%/0+'!@!0A+D<0.'1)&!,+!<+00+'!B%B?+'!(%$!
,+'!$+<+-+'!<)CC+$<1%0+'!I.*.$+'!i<)CC+!().$!
0A%$=<0+!Z!,.!,?<$+*!]ddjE!:%!,?(+&'+!(./012.+!+'*!
1C(%<*?+!i%&&?+!%($O'!%&&?+j!(%$!,+'!C+'.$+'!
$+0%=5+'!@!0%!($),.<=51*?!,+'!'+$51<+'!i<)z*'!,+'!
'+$51<+'! )M+$*'j! +*! %.D! $+<+-+'! <)CC+$<1%0+'!
i*$%K<'! +*! *%$1I'! ($%=2.?'jE! 900+! ,)1*! ?B%0+C+&*!
($+&,$+!+&!<)C(*+!0+'!<G%$B+'!+*!0+'!$1'2.+'!01?'!
%.D! 1&5+'=''+C+&*'! \! <)&*$%*'! ,+! (%$*+&%$1%*!
iYYYj>!$1'2.+'!<)CC+$<1%.D!i?<%$*'!,+'!$+<+-+'!
,.! *$%K<! 2.1! B%B+&*! 0+'! +C($.&*'j! +*! $1'2.+'!
K&%&<1+$'! i*%.D! ,A1&*?$Q*! ().$! 0+'! &).5+%.D!
+C($.&*'! ).! ().$! 0+! $??<G+0)&&+C+&*! ,+! 0%!
,+-+jE!;+'!1C(%<*'!()$*+&*!'.$!0+!(?$1CO*$+!,+!
0A9*%*>! ,+! '+'! ?*%/01''+C+&*'! (./01<'! i+D+C(0+!
,+! 0%! ,+-+! ,+! ]dd! &)&! $+C/).$'%/0+j! +*! ,+'!
<)00+<=51*?'!0)<%0+'E!
:+'!5%$1%=)&'!,+!$+<+-+'!K'<%0+'!&A)&*!(%'!?*?!
($1'+'!+&!<)C(*+!,%&'!0A?*.,+E!U%&'!0%!'1*.%=)&!
,A+&,+-+C+&*!(./01<!,.!(%L'>!*).*+!5%$1%=)&!,+!
$+'').$<+!K'<%0+!+'*!%!($1)$1!<)&'1,?$?+!<)CC+!
.&+!5%$1%=)&!,+!0%!,+-+!B0)/%0+!+*!&)&!<)CC+!
.&+!C+'.$+!'(?<1K2.+!%.!'+<*+.$!,.!*$%&'()$*E!
;+(+&,%&*>! 0A1C(%<*! '.$! 0+'! *$%&'()$*'! ,+! 0%!
5%$1%=)&!,+!<+$*%1&+'!K'<%01*?'!i#`;Y9>!h+$'+C+&*!
*$%&'()$*>!*%D+!'.$!0+'!/.$+%.D!%M+<*?+!%.!a$%&,!
Y%$1'rj!I%1*!0A)/F+*!,A.&!+D%C+&!(%$=<.01+$E!
:A1&,1<%*+.$! $+*+&.! ().$! 0+'! '<?&%$1)'! +'*! 0%!
R!,?$15+!,.!,?K<1*!(./01<!S!+&*$+!"676!+*!"686E!!
;+-+! 5%$1%=)&! +'*! ,?K&1+! <)CC+! 0+! <.C.0>!
'.$! <+-+! (?$1),+! ,+! "6! %&'>! ,+'! 5%$1%=)&'!
%&&.+00+'! ,+'! ,?(+&'+'! (./012.+'! %M+<*?+'!
%.! *$%&'()$*>! %<*.%01'?+'! K&%&<1O$+C+&*! i*%.D!
,A1&*?$Q*!$?+0'j!{!%.2.+0!10!<)&51+&*!,A%F).*+$!0+'!
5%$1%=)&'!<.C.0?+'!,+'!($)51'1)&'!().$!$1'2.+'!
<)CC+$<1%.D!+*!K&%&<1+$'E
OOO'6S<?Q'4/0'07>:93?<0'OOO
:+!<G%C(!?*.,1?!5%!,A.&!'<?&%$1)!7!R!*+&,%&<1+0!S!
@!.&!'<?&%$1)!"!R!,+!,?'+&,+-+C+&*!S!2.1!'+$%1*!
1C()'?!(%$!.&+!'1*.%=)&!K&%&<1O$+!,1y<10+E!U+'!
'<?&%$1)'!1&*+$C?,1%1$+'>!&)&!+&51'%B?'!,%&'!0%!
($?'+&*+!?*.,+>!().$$%1+&*!C+-$+!+&!?51,+&<+!
0+'!1C(%<*'!$+'(+<=5+C+&*!%-+&,.'!,+!C+'.$+'!
<1/0?+'! '.$! 0+! I)&<=)&&+C+&*! i($),.<=51*?! +*!
*%$1K<%=)&! ,+'! '+$51<+'! )M+$*'j! +*! ,+! <+00+'!
<1/0?+'!'.$!0A1&5+'=''+C+&*!i+&B%B+C+&*!,1M?$?!
,+!<+$*%1&'!($)F+*'>!')0.=)&'!%0*+$&%=5+'!C)1&'!
<)z*+.'+'rjE
Y%$! $%(()$*! @! .&! '<?&%$1)! 7! *+&,%&<1+0! 2.1!
($)0)&B+! 0+'! *+&,%&<+'! (%''?+'! +&! C%=O$+!
,+! I)&<=)&&+C+&*! +*! 2.1! ($?5)1*! 0%! C1'+! +&!
k.5$+!,.
!"7!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
0+'!C+'.$+'!+&51'%B+%/0+'!().$!I%1$+!I%<+!@!.&+!
'1*.%=)&! K&%&<1O$+! *$O'! <)&*$%1B&%&*+>! '%&'!
)/?$+$!0A%5+&1$!@!0)&B!*+$C+>!@!'%5)1$!\
x!!0+'! ?<)&)C1+'! ()''1/0+'! (%$! $%(()$*! %.D!
,?(+&'+'!%<*.+00+'!i,+!I)&<=)&&+C+&*!).!,+!
$+&).5+00+C+&*jE! :+! ()*+&=+0! ,A?<)&)C1+'!
(+.*!Q*$+!%(($?<1?!(%$!$%(()$*!@!,+'!,)&&?+'!
)/F+<=5+'>!(%$!+D+C(0+!,+'!$%=)'!,A+D(0)1*%=)&!
,A%.*$+'!(%L'!{
x!!0+'! <)&*$1/.=)&'! '.((0?C+&*%1$+'! ().5%&*!
Q*$+!,+C%&,?+'!%.D!.'%B+$' <01+&*'!+*!%.*$+'!
/?&?K<1%1$+'!,.!*$%&'()$*E!_&+!,1'=&<=)&!+'*!
&?<+''%1$+!+&*$+!0+'!$+<+-+'!<)CC+$<1%0+'!).!!
<+$*%1&+'! *%D+'! ,1$+<*+C+&*! 01?+'! %.! '+$51<+!
$+&,.! i*+00+! 2.+! 0A9<)*%D+! ()1,'! 0).$,'>! ).!
0+! (?%B+! .$/%1&>! (%$! +D+C(0+j>! +*! 0+'! %.*$+'!
$+'').$<+'! K'<%0+'! 2.1! <)&'=*.+&*! ,+'!
($?0O5+C+&*'!)/01B%*)1$+'!{
x!!0+'!1&5+'=''+C+&*'!'.'<+(=/0+'!,AQ*$+!,1M?$?'>!
(%$C1! <+.D! 2.1! &+! ')&*! (%'! 1$$?5+$'1/0+C+&*!
+&B%B?'E! _&+! 5.+! 'L&*G?=2.+! $+'*+$%!
&?<+''%1$+! ().$! <)C(%$+$! 0+! C)&*%&*!
,A1&5+'=''+C+&*'!2.1!$+'*+$%1+&*!($)B$%CC?'!
(%$! $%(()$*! %.D! C)&*%&*'! ,+! <+'! ,+$&1O$+'!
%&&?+'E! _&+! ,1'=&<=)&! '+$%! I%1*+! +&*$+! 0+'!
1&5+'=''+C+&*'! ,+! $+&).5+00+C+&*! i'%&'!
0+'2.+0'! 0+! '+$51<+! )M+$*! '+! ,?B$%,+! '.$! 0+!
C)L+&30)&B! *+$C+j! +*! 0+'! 1&5+'=''+C+&*'!
,+! C),+$&1'%=)&! +*! ,+! ,?5+0)((+C+&*! ,+'!
1&I$%'*$.<*.$+'!+*!'+$51<+'!)M+$*'E
NNN'B_',($')d%(#$($'%*+,-.*($'')"#$',($' !"#$%&! $'(#'BCDC'
:+!*%/0+%.!<13,+'').'!$?<%(1*.0+!0+'!<)&*$1/.=)&'!
(./012.+'! "676! $+0%=5+'! %.D! ,1M?$+&*'!
,)C%1&+'! ,.! *$%&'()$*>! +&! I)&<=)&&+C+&*!
+*! +&! 1&5+'=''+C+&*E! ;+'! 5%0+.$'! '+$5+&*! ,+!
$?I?$+&<+! %.D! <%0<.0'! ,+'! '<?&%$1)'! "686! ().$!
+'=C+$>!,%&'!<G%2.+!,)C%1&+!,.!*$%&'()$*>!0+'!
+M+*'>! '.$! 0%!5%$1%=)&!,+'!,?(+&'+'!(./012.+'>!
,AGL()*GO'+'!,+!5%$1%=)&!,+'!<)z*'>!,+'!$+<+-+'!
+*!,+'!1&5+'=''+C+&*'!i5)1$!"+!(%$=+jE
;)&*$1/.=)&'!(./012.+'
(%$!,)C%1&+!,+!*$%&'()$*!
c1001%$,'!
,A+.$)'!"676
;)CC+&*%1$+'!!
;*$&/%!*C
!>0/95'3<5X/3':9X<:98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
B]\7>7H7>nH
;%$'<)!*")/.(*<$/)C[*%/0+'!,+(.1'!2.+02.+'!%&&?+'9&!,1C1&.=)&
!>0/95'3<5X/3'6<8_',<798/0;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
DF]IZ>op>6
;%$'<)!*")/.(*<$/)C[*%/0+'!,+(.1'!2.+02.+'!%&&?+'9&!<$)1''%&<+!$?B.01O$+!}!">6!v!(%$!%&
39:0;<3='W/33<@?9?3/':9X<:98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
#$()"7" -./0!*"#!R!";)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
H]H">8Z>P">7
;J**2*!*"#&":!//$D2.2/!"b"`66CU?K<1*!,+!(0.'!,+!7!C1001%$,! !%&�!+&,+-+C+&*!}!$?B?&?$%=)&!&)&!K&%&<?+,)&*!(%$*!<)00+<=51*?'!0)<%0+'!!+*!_9
39:0;<3=0'3>E?<:0'/='4>;93=/1/:=0;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
I]Cn>67>6
; $'<)!*")/.(*<$/)C9&!<$)1''%&<+!$?B.01O$+!}!H!v!(%$!%&[*%/101*?!,+(.1'!"66p!
39:0;<3=0'o5@?95Q;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
C]p6>Z6>"
; $'<)!*")/.(*<$/)C9&!0?BO$+!<$)1''%&<+[*%/101*?!%.!<).$'!,+'!,+$&1O$+'!%&&?+'
-:W390=357=53/0';<3=59?3/0;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
C]qF6>Z6>78
; $'<)!*")/.(*<$/)C9&!0?BO$+!,?<$)1''%&<+d0.<*.%&*+!%.!<).$'!,+'!,+$&1O$+'!%&&?+'
39:0;<3=';528?7'5329?:'ZS<30'!-e[;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
F]\">"7>n
;cJ`e"b"feSC;$)1''%&<+!,+!($O'!,+!Z!v!(%$!%&!iG)$'!h#j9&!/%1''+!$?B.01O$+!,+(.1'!"66n
39:0;<3=';528?7'/:'-8/G4/Ge39:7/;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
p]Cp7>nn!i}8>6!h#j
7>Z
;5e36>"cJ`eC;$)1''%&<+!,+!(0.'!,+!Z!v!(%$!%&!iG)$'!h#j[*%/101*?!%($O'!.&+!<$)1''%&<+!1C()$*%&*+
<=98'BCDC;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*!
F\]^"7>l7o>7
WVE!:%!,?<)C()'1=)&!+&*$+!I)&<=)&&+C+&*!+*!1&5+'=''+C+&*!+'*!I%.''?+!,.!I%1*!,A.&+!%M+<*%=)&!+&!<G%$B+'!,A1&5+'=''+C+&*!,+!<+$*%1&+'!,?(+&'+'!,+!C%1&*+&%&<+
g!*")$).&h"#!"%!").1,!.&"#+).2,,+"*$()"%$-+/!()*>"!("$/#/!"#!"0/.(#!&/>".D!%",!")$).,"#!*"#+<!(*!*"<&1,2?&!*".(.,i*+!*"
#.(*",!*"%$'<)!*")/.(*<$/)*";!(%.#/+"%2I#!**$&*C
!""!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
OOO',/0'4>;/:0/0';528?U5/0'BCC^GBCDC'49:0'8/'0/7=/53'4/0'=39:0;<3=0'OOO;5$&/%!"7" e4" $'<)!*")/.(*<$/)C
V'',/0'4>;/:0/0';528?U5/0'4/'W<:7X<::/1/:=!'A?0O5+&*!@!.&!*)*%0!,+!0A)$,$+!,+!"H!C1001%$,'!
,A+.$)'! ,)&*>! <)C(*+! *+&.! ,+'! *$%&'I+$*'!
<$)1'?'!9*%*'!u!<)00+<=51*?'!\!
9*%*!\!o>n!aw!
;)00+<=51*?'!0)<%0+'!\!"6>"!aw!
V'',/0' 4>;/:0/0' ;528?U5/0' 4P?:@/0X00/1/:=! !$+($?'+&*+&*!7n>o!C1001%$,'!,A+.$)'!,)&*!\
9*%*!\!8>H!aw!,)&*!\!!
$).*+!i7>lj>!d+$!i7j>!#;_!i6>7Hj
;)00+<=51*?'!\!78>"!aw!,)&*!\!5)1$1+!ip>Hj>!
%.*$+'!1&I$%'!i6>pj>!*$%&'()$*'!i">lj
$<?='5:'/Y<3=';528?7'=<=98'9::5/8'4/'8P<343/'4/'HC'1?88?9340'4P/53<0
NNN'F_',($'!d$*, " $')($')(*g'$6d#"!-&$'f',PK&!-r&#'BCFC'
OOO',/7=53/'4/0'=928/95Q'3>79;?=589XW0'4/0'07>:93?<0'OOO
:+'! ()'*+'! ,+! ,?(+&'+'! (./012.+'! ')&*!
,?<)C()'?'! i+&! 01B&+j! (%$! C),+! ,+! *$%&'()$*!!
i$).*+>! I+$$)51%1$+>! J.51%0>! ()$*.%1$+>! *$%&'()$*'!
.$/%1&'>! `0+3,+3d$%&<+j!+*!(%$!B+'=)&&%1$+!i9*%*!
).!<)00+<=51*?'jE!
[)&*!($?'+&*?'!+&!<)0)&&+'!\
6<8<::/' ZD[! \! 0+'! ()'*+'! ,+! <)&*$1/.=)&'!
(./012.+'>! ,?<)C()'?'! (%$! ,)C%1&+! ,A%<=51*?!
*$%&'()$*
6<8<::/' ZB[! \! 0+'! C)&*%&*'! ,+'! <)&*$1/.=)&'!
(./012.+'!%M+<*?+'!+&!"676!@!<G%2.+!,)C%1&+!
,.! *$%&'()$*! +&! C%=O$+! ,+! I)&<=)&&+C+&*!
+*! ,A1&5+'=''+C+&*>! '+0)&! 0+'! <)&5+&=)&'!
'.15%&*+'!\
x!!0%! <)&*$1/.=)&! (./012.+! ,+! I)&<=)&&+C+&*!
+'*!,?K&1+!<)CC+! 0%!,1M?$+&<+!+&*$+! 0+!<)z*!
<)C(0+*! ,+! I)&<=)&&+C+&*! +*! 0%! $+<+-+!
&+-+! ,+'! 5)L%B+.$'! {! <+! <)z*! <)C(0+*! ,+!
I)&<=)&&+C+&*! 1&*OB$+! +&! ($1&<1(+! 0+!
$+&).5+00+C+&*! ,.! C%*?$1+0! $).0%&*! +*! 0+'!
,?(+&'+'! ,+! $?B?&?$%=)&! &?<+''%1$+'! ().$!
?51*+$! 0%! ,?B$%,%=)&! ,.! '+$51<+! '.$! 0+! 0)&B!
*+$C+>!
x!!0%! <)&*$1/.=)&! (./012.+! ,A1&5+'=''+C+&*! +'*!
,?K&1+!<)CC+!0%!,1M?$+&<+!+&*$+! 0%!,?(+&'+!
*)*%0+!,A1&5+'=''+C+&*!iL!<)C($1'!0+'!1&*?$Q*'!
,+'!+C($.&*'!<)&*$%<*?'!().$!0+'!$?%01'+$j!+*!0%!
(%$*!'.'<+(=/0+!,AQ*$+!%C)$=+!(%$!,+'!$+<+-+'!
<)CC+$<1%0+'!'.((0?C+&*%1$+'!).!,+'!B%1&'!,+!
($),.<=51*?!B?&?$?'!(%$! 0A1&5+'=''+C+&*!i#]`!
K&%&<1+$j>!
x!!0+'! ,)*%=)&'! /.,B?*%1$+'! ,+! 0A9*%*! +*! ,+'!
<)00+<=51*?'!0)<%0+'>!0+!5+$'+C+&*!*$%&'()$*!+*!
0+'! <)C(+&'%=)&'! ().$! $?,.<=)&'! *%$1I%1$+'!
')<1%0+'! I)&*! &)*%CC+&*! (%$=+! ,+! <+'!
<)&*$1/.=)&'!(./012.+'>!
x!!0+'! <)&*$%*'! ,+! (%$*+&%$1%*! iYYYj! ')&*!
%''1C10?'! @! ,+'! <)&*$1/.=)&'! (./012.+'! ,+!
I)&<=)&&+C+&*! ,1M?$?+'! ,%&'! 0+! *+C('>!
?2.15%0+&*+'!%.D! <G%$B+'!,+! 0A+C($.&*!(./01<!
2.1!'+$%1*!+&B%B?!+&!0A%/'+&<+!,+!<)&*$%*!YYYE
4T" 7" #.(*" ,." *&2)!" #&" %.,%&,>" %!*" %$()/21&Q$(*"
<&1,2?&!*"XPZP"*$()"/!%$(#&2)!*"!("!&/$*"%$(*).()*"
*&/",."<+/2$#!"XPZPIXPUP"<$&/"%-.?&!"#$'.2(!"#&"
)/.(*<$/)>" G" ,=!h%!<Q$(" #&" D!/*!'!()" )/.(*<$/)"
;/!**$&/%!" N*%.,!" .j!%)+!C" #$()" ,!" '$().()" !*)"
/++D.,&+" ;G" <+/2'M)/!" !)" ).&h" 2(%-.(0+*C" .&"
</$/.)."#!",."%/$2**.(%!"</$1.1,!"#&"S3T";!*Q'+!"
G"Z>U"Y"<./".("!("'$i!((!"*&/",."<+/2$#!C9
6<8<::/' ZF[! \! 0+'! GL()*GO'+'! $+*+&.+'! ,%&'! 0+!'<?&%$1)! +*! 0+.$'! +M+*'! '.$! 0+'! 5%$1%=)&'! ,+'!
/+')1&'!,+!K&%&<+C+&*'!(./01<'!%&&.+0'!).!'.$!0%!
(?$1),+E!_&+!%.BC+&*%=)&!,+!0%!<G%$B+!(./012.+!
,+!I)&<=)&&+C+&*!,1C1&.+!,A%.*%&*!0%!<%(%<1*?!
,A%.*)K&%&<+C+&*! ,+'! 1&5+'=''+C+&*'>! +*!
<)&,.1*!@!.&!+&,+-+C+&*!(./01<!'.((0?C+&*%1$+!
().$!K&%&<+$!0A1&5+'=''+C+&*E!
6<8<::/'ZH[!\! 0+'!+M+*'!,+'!5%$1%=)&'!%&&.+00+'!,+!,?(+&'+'!(./012.+'>!<.C.0?'!'.$!0%!(?$1),+!,+!
"6!%&'>!,?*+$C1&+&*!.&+!,?$15+!,?K<1*%1$+!+&*$+!
"676!+*!"686>!+*!'+!*$%,.1'+&*!(%$!.&+!()&<=)&!
K'<%0+!'.((0?C+&*%1$+>!).!(%$!.&!+&,+-+C+&*!
(./01<!'.((0?C+&*%1$+E!
,/0' 7987580' 0<:=' /Y/7=5>0' /:' /53<0' 7<:0=9:=0]'9@/7' 4/0' ;3<E3/00?<:0' 8?:>9?3/0' 053' 89' ;>3?<4/'BCDCGBCFC_
!"8!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
:+'!1&*?$Q*'!,+!0%!,+-+!'.((0?C+&*%1$+!B?&?$?'!
(%$!<G%2.+!'<?&%$1)!&A)&*!(%'!?*?!<%0<.0?'!,%&'!
<+-+!?*.,+E!̀ 0'!,+5$%1+&*!+&!($1&<1(+!Q*$+!%F).*?'!
%.D!*)*%.D!,+'!'<?&%$1)'>!%1&'1!2.+!0+'!($)51'1)&'!
().$!$1'2.+'!,+'!<)&*$%*'!(%''?'!(%$!0+'!C%|*$+'!
,A).5$%B+!(./01<'E
D_'$7>:93?<'=/:49:7?/8! \!<$)1''%&<+!,+! 0A+&,+*3*+C+&*!,.!'+<*+.$!,+'!*$%&'()$*'>!').'!0A+M+*!\!
x!!,+! 0A%<<$)1''+C+&*! ,+'! <)z*'! <)C(0+*'! ,+!
I)&<=)&&+C+&*! &)&! <)C(+&'?! (%$! ,+'!
$+'').$<+'! <)CC+$<1%0+'! '.((0?C+&*%1$+'!
i*%$1K<%=)&! ,.! *$%&'()$*! (./01<j>! ).! ,+!
0A1&'*%.$%=)&! ,+! *%$1K<%=)&'! $).=O$+'!
&).5+00+'! i*%D+! ~10)C?*$12.+! ()1,'30).$,'>!
'*%=)&&+C+&*!(%L%&*rj!
x!!,+'! <)&*$1/.=)&'! K&%&<1O$+'! (./012.+'!
,?<).0%&*! ,+'! 1&5+'=''+C+&*'! 2.+! 0+! [W`#!
($?5)1*! ,A+&B%B+$! '.$! 0%! (?$1),+! "67"3"686!
').'! I)$C+! ,+! './5+&=)&'! ,1$+<*+'! ).! ,+!
<G%$B+'!,1M?$?+'!,+!<)&*$%*'!,+!(%$*+&%$1%*!+*!
%.*$+'!+&B%B+C+&*'!G)$'!/10%&E!
OOO'$7/:93?<'D'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
i7j!W%*.$+!,+'!()'*+'
i"j!
V%'+!
"676
i8j!
XL()*GO'+'!?5)0.=)&!
"6763"686
iZj!]?'.0*%*!\!,?$15+!!
,?K<1*%1$+!!
,+!"676!@!"686
!>0/95'3<5X/3':9X<:98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*]+<+-+!9<)*%D+!()1,'!0).$,'
7>7H7>nZ3
[*%/0+!'.$!0%!(?$1),+Y+$C+*!,+!K&%&<+$!0+![W`#6>on!aw! %&!%($O'!"678
<=98'988tE_'4>A7?='G'DF]F'LaY%'!,+!,?K<1*!'.((0EY%'!,+!,?K<1*!'.((0E400OB+C+&*!,?K<1*!\!3!78>8!aw
!>0/95'3<5X/3'6<8_',<798/0;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*!
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*]+<+-+!?<)*%D+!()1,'!0).$,'
Z>op>63
[*%/0+!'.$!0%!(?$1),+;$)1''%&<+!}!">6!v!(%$!%&6>7n!aw! %&!%($O'!"678
<=98'4>A7?=''05;_'`'D]F'LaY%'!,+!,?K<1*!'.((0EU?K<1*!!'.((0E!}!Z>6!aw400OB+C+&*!,?K<1*!\!3!">o!aw
39:0;<3='W/33<@?9?3/':9X<:98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
#$()"/+0+(+/.Q$("#&"/+*!.&
#$()"%-./0!"#!",."#!R!
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
">8
Z>P
">7
[*%/0+!'.$!0%!(?$1),+J%)&!,,!'!()"($("%$&D!/)!>3,"'.(?&!"Z>P"ckl.(J&"</$/.)."#!",."#!R!""*&<<,+'!().2/!"XPZPIXPUP;$)1''%&<+!\!}7>8!aw %&
<=98'4>A7?='05;;8_'`'qq'La'Y%'!,+!!,?K<1*!!'.((0EA+N%2)""*&<<,9"m"XP"ck
&'&,"#=2()+/E)*"G"_"Y"m"["ck
U?K<1*!!'.((0E!}!"n!aw
39:0;<3='3>E?<:98'/='4>;93=/1/:=98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*n>67>6
;$)1''%&<+!}!"!v!(%$!%&[*%/0+!'.$!0%!(?$1),+
<=98'4>A7?='05;;8_'`'BH'LaU?K<1*!!'.((0E!}!"Z!awY%'!,+!!,?K<1*!!'.((0E
39:0;<3='o5@?98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*6>Z6>"
]?B?&?$%=)&!}!7n6!cw %&Y$)B$%CC+![W`#!
<=98'4>A7?='05;;8_'`'DC'LaU?K<1*!'.((0E!}!8>"!awU?K<1*!'.((0E!}!n>l!aw
-:W390=357=53/0';<3=59?3/0;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*6>Z6>78
[*%/101*?!Y$)B$%CC+![W`#!
<=98'4>A7?='05;;8_'`'H'LaY%'!,+!,?K<1*!'.((0?C+&*%1$+U?K<1*!'.((0E!}!Z!aw
39:0;<3=';528?7'5329?:'ZS<30'!-e[;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
F]\">"7>n
;$)1''%&<+!">8!v!(%$!%&Y+$C+*!,+!K&%&<+$!0+![W`#
<=98'4>A7?='05;;8_'`'p'LaU?K<1*!!'.((0E!}!n!awY%'!,+!!,?K<1*!!'.((0E
39:0;<3='7<88/7XW'-8/G4/Ge39:7/;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
7>nn!!i}8>6!h#j
7>Z
;$)1''%&<+!iG)$'!h#j}!Z>o!v!(%$!%&;$)1''%&<+!\!}!7>Z!aw %&
<=98''4>A7?=''05;;8_'`'HH'LaU?K<1*!'.((0E!}7n!aw
U?K<1*!'.((0E!}!"l!aw
<=98'E>:>398 F\]^ <=98''4>A7?=''05;_'`'DFD'La
!"Z!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
OOO'$7/:93?<'B'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
i7j!W%*.$+!,+'!()'*+'
i"j!
V%'+!
"676
i8j!
XL()*GO'+'!?5)0.=)&!
"6763"686
iZj!]?'.0*%*!\!,?$15+!!
,?K<1*%1$+!!
,+!"676!@!"686
!>0/95'3<5X/3':9X<:98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*]+<+-+!9<)*%D+!()1,'!0).$,'
9D*+&'1)&!9<)*%D+!%.D!h:
7>7H7>nZ33
U1C1&.=)&!,+!7!v!(%$!%&7l!aw![W`#!%.!01+.!,+!"Z!6>on!aw! %&!%($O'!"6787>o!aw! !%&!%($O'!"67H
<=98'988tE_'4>A7?='G'HI'La'La400OB+C+&*!,?K<1*!\!3!">6!aw400OB+C+&*!,?K<1*!\!3!n!aw400OB+C+&*!,?K<1*!\!3!78>8!aw400OB+C+&*!,?K<1*!\!3!"H>H!aw
!>0/95'3<5X/3'6<8_',<798/0;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*!
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
]+<+-+!?<)*%D+!()1,'!0).$,'9D*+&'1)&!9<)*%D+!%.D!h:
[*%=)&&+C+&*!(%L%&*
Z>op>6
33
7>6
U1C1&.=)&!,+!7!v!(%$!%&[*%/101*?!/.,B?*%1$+!!;IX"Y""<./"/.<<$/)".&")!(#.(%2!,C
6>7n!aw! %&!%($O'!"6786>8H!aw! !%&!%($O'!"67H]+&,+C+&*!}!H!v!(%$!%&
<=98'988/E_'4>A7?='G'D\'La400OB+C+&*!!,?K<1*!\!3!H>6!awY%'!,+!!,?K<1*!!'.((0?C+&*%1$+
400OB+C+&*!,?K<1*!\!3!">o!aw400OB+C+&*!,?K<1*!\!3!H>8!aw400OB+C+&*!,?K<1*!\!3!H>6!aw
39:0;<3='W/33<@?9?3/':9X<:98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
#$()"/+0+(+/.Q$("#&"/+*!.&
]+<+-+'!5)L%B+.$'!B$%&,+'!01B&+'!
U1C1&.=)&!%<=51*?!I$+*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
">83
7>6
3
">7
Y$),.<=51*?!}!7!v!(%$!%&J%)&!,,!'!()"($("%$&D!/)!>3,"'.(?&!"Z>P"ckl.(}7!v!(%$!%&!?2.15%0+&*+!!@!,1C1&.=)&!,+'!<G%$B+':1C1*?+!%.D!*$%1&'!<)C(0+*'
7>8!aw! %&!%.!01+.!,+!8>Z
<=98'988/E_'4>A7?='G'BC'La'400OB+C+&*!,?K<1*!\!3!p>6!awA+N%2)""*&<<,+'!().2/!"m"XP"ck
400OB+C+&*!,?K<1*!\!3!7">6!aw
400OB+C+&*!,?K<1*!\!3!8>6!aw
400OB+C+&*!,?K<1*!\!3!7n>6!aw
39:0;<3='3>E?<:98'/='4>;93=/1/:=98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
]+<+-+'!5)L%B+.$';)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
n>6
7>H7>6
[*%/101*?!/.,B?*%1$+!!i3"!v!(%$!$%(()$*!%.!*+&,%&<1+0j
#%$1I'!}"!v!(%$!%&U1C1&.=)&!,+!7!v!(%$!%&
<=98'988/E_'4>A7?='G'\'LaY%'!,+!!,?K<1*!!'.((0?C+&*%1$+
400OB+C+&*!,?K<1*!\!3!n>6!aw400OB+C+&*!,?K<1*!\!3!">6!aw
39:0;<3='o5@?98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*6>Z6>"
U1C1&.=)&!,+!7!v!(%$!%&Y$)B$%CC+!C1&1C.C!
<=98'4>A7?='05;;8_'`'q'LaU?K<1*!'.((0E!}!">l!awU?K<1*!'.((0E!}!">"!aw
-:W390=357=53/0';<3=59?3/0;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*6>Z6>78
U1C1&.=)&!,+!7!v!(%$!%&!Y$)B$%CC+!C1&1C.C!
<=98'4>A7?='05;;8_'`'B]\'La400OB+C+&*!,?K<1*E!3!6>Z!awU?K<1*!'.((0E!}!8>">!aw
39:0;<3=';528?7'5329?:'ZS<30'!-e[;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
">"
7>n
[*%/101*?!/.,B?*%1$+!!i38!v!(%$!$%(()$*!%.!*+&,%&<1+0j
9&!/%1''+!,+!6>n!aw! !%&!!iH6!v!,.![W`#j
<=98'988/E_'4>A7?='G'Dp'La400OB+C+&*!,?K<1*!G)$'!h#!\!3!Z>6!aw
400OB+C+&*!,?K<1*!\!3!7">6!aw
39:0;<3='7<88/7XW'-8/G4/Ge39:7/;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
7>nn!!i}8>6!h#j
7>Z
[*%/101'%=)&!<)z*'!I)&<*E+*!!*%$1I'!}!"!v!(%$!%&:1C1*?!@!7!aw! !%&!
<=98'988/E_'4>A7?='G'^'La400OB+C+&*!,?K<1*\!3!p>6!aw}!h#!,1'()&1/0+!\!3!l!awU?K<1*!'.((0E!}!l>6!aw
<=98'E>:>398 F\]^ <=98'988/E_'4>A7?='G'DDC]B'La
B_' $7>:93?<' 4/' 4>0/:4/c/1/:=! \! ,%&'! .&+!'1*.%=)&! *$O'! <$1=2.+! ,+'! K&%&<+'! (./012.+'!
+&! d$%&<+>! )�! 10! '+$%1*! &?<+''%1$+!,+!,1C1&.+$!
*$O'!I)$*+C+&*!0%!,?(+&'+!(./012.+!%M+<*?+!%.!
*$%&'()$*!i,+!"6!v!(%$!+D+C(0+>!')1*!l!C1001%$,'!
,A+.$)'! ,A?<)&)C1+'! %&&.+00+'! @! *$).5+$j>! <+!
'<?&%$1)! +D(0)$+! 0+'! ?<)&)C1+'! ()''1/0+'! 2.1!
($?'+$5+$%1+&*!0A%5+&1$!'%&'!,?*?$1)$+$!0%!2.%01*?!
,+'!'+$51<+'!%<*.+0'E
)/0' 07>:93?<0' ?:=/31>4?9?3/0! ().$$%1+&*!
%&%0L'+$!0+'!?<)&)C1+'!,+!,?(+&'+'!(./012.+'!
(%$! $%(()$*! %.! '<?&%$1)! *+&,%&<1+0>! i(%$!
+D+C(0+! ().$! &+! (%'! %.BC+&*+$! 0+! &15+%.!
,+! ,+-+! (./012.+! B?&?$?! (%$! 0+! '+<*+.$! ,+'!
*$%&'()$*'j>!+&!.=01'%&*! 0+'!(1'*+'!,+!$?()&'+'!
()''1/0+'! 1,+&=K?+'! <13,+''.'! \! ?<)&)C1+'! ,+!
I)&<=)&&+C+&*!+*!,A1&5+'=''+C+&*>!,1M?$?!,+!
<+$*%1&'! 1&5+'=''+C+&*'! ($?5.'>! <)&*$1/.=)&'!
'.((0?C+&*%1$+'! ,+'! .'%B+$'! ).! <01+&*'r! ;+'!
'<?&%$1)'! $+0O5+&*! ,+! 0A%$/1*$%B+! ,+'! %.*)$1*?'!
()01=2.+'>! <A+'*! ().$2.)1! 10'! &A)&*! (%'! ?*?!
+&51'%B?'!,%&'!<+-+!?*.,+E!
!"H!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
W%*.$+!,+'!()'*+'V%'+!
"676
[<?&%$1)!7!
*+&,%&<1+0
[<?&%$1)!"!
,+!,?'+&,+-+C+&*U1ME
!>0/95'3<5X/3':9X<:98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*]+<+-+!9<)*%D+!()1,'!0).$,'
9D*+&'1)&!9<)*%D+!%.D!h:
7>7H7>nZ33
<=98'988tE_'4>A7?='G'DF]F'LaY%'!,+!!,?K<1*!!'.((0?C+&*%1$+Y%'!,+!!,?K<1*!!'.((0?C+&*%1$+400OB+C+&*!,+-+!\!3!78>8!aw
3
<=98'988tE_'4>A7?='G'HI'La400OB+C+&*!,?K<1*!\!3!">6!aw400OB+C+&*!,?K<1*!\!3!n!aw400OB+C+&*!,?K<1*!\!3!78>8!aw400OB+C+&*!,?K<1*!\!3!"H>H!aw
G'FH3!"3!n
3!"H>H
!>0/95'3<5X/3'6<8_',<798/0;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*!
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*]+<+-+!?<)*%D+!()1,'!0).$,'
9D*+&'1)&!9<)*%D+!%.D!h:[*%=)&&+C+&*!(%L%&*
Z>op>633
7>6
<=98'4>A7?='05;_'`'D]F'LaY%'!,+!,?K<1*!'.((0?C+&*%1$+U?K<1*!'.((0E!}!Z>6!aw400OB+C+&*!,?K<1*!\!3!">o!aw
33
<=98'988tE_'4>A7?='G'D\'La400OB+C+&*!,?K<1*!\!3!H>6!awY%'!,+!,?K<1*!'.((0?C+&*%1$+400OB+C+&*!,?K<1*!\!3!">o!aw400OB+C+&*!,?K<1*!\!3!H>8!aw400OB+C+&*!,?K<1*!\!3!H>6!aw
G'D^3!763!Z
3!H>83!H
39:0;<3='W/33<@?9?3/':9X<:98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
#$()"/+0+(+/.Q$("#&"/+*!.&#$()"%-./0!"#!",."#!R!
]+<+-+'!5)L%B+.$'!B$%&,+'!01B&+'!U1C1&.=)&!%<=51*?!I$+*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
">83Z>Pn>63
">7
<=98'4>A7?='05;;8_'`'qq'La'Y%'!,+!,?K<1*!'.((0?C+&*%1$+A+N%2)""*&<<,9"m"XP"ck &'&,"#=2()+/E)*"G"_"Y"m"["ck
33
U?K<1*!!'.((0E!}!"n!aw
<=98'988/E_'4>A7?='G'BC'La'400OB+C+&*!,?K<1*!\!3!p>6!awA+N%2)"*&<<,+'!().2/!"m"XP"ck
400OB+C+&*!,?K<1*!\!3!7">6!aw400OB+C+&*!,?K<1*!\!3!8>6!aw400OB+C+&*!,?K<1*!\!3!7n>6!aw
G'Iq3!p
3!7"3!83!Z"
39:0;<3='3>E?<:98'/='4>;93=/1/:=98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
]+<+-+'!5)L%B+.$';)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
n>67>H7>6
<=98'4>A7?='05;;8_'`'BH'LaU?K<1*!!'.((0E!}!"Z!aw
Y%'!,+!,?K<1*!'.((0?C+&*%1$+
<=98'988tE_'4>A7?='G'\'LaY%'!,+!!,?K<1*!!'.((0?C+&*%1$+400OB+C+&*!,?K<1*!\!3!n>6!aw400OB+C+&*!,?K<1*!\!3!">6!aw
G'FB3!"Z3!n3!"
39:0;<3='o5@?98;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*6>Z6>"
<=98'4>A7?='05;;8_'`'DC'LaU?K<1*!'.((0E!}!8>"!awU?K<1*!'.((0E!}!n>l!aw
<=98'4>A7?='05;;8_'`'q'LaU?K<1*!'.((0E!}!">l!awU?K<1*!'.((0E!}!">"!aw
G'q3!6>Z3!Z>n
-:W390=357=53/0';<3=59?3/0;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*6>Z6>78
<=98'4>A7?='05;;8_'`'H'LaY%'!,+!,?K<1*!'.((0?C+&*%1$+U?K<1*!'.((0E!}!Z!aw
<=98'4>A7?='05;;8_'`'B]\'La400OB+C+&*!,?K<1*E!3!6>Z!awU?K<1*!'.((0E!}!8>">!aw
G'D]B3!6>Z3!6>l
39:0;<3=';528?7'5329?:'ZS<30'!-e[;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*">"7>n
<=98'4>A7?='05;;8_'`'p'LaU?K<1*!!'.((0E!}!n!awY%'!,+!,?K<1*!'.((0?C+&*%1$+
<=98'988tE_'4>A7?='G'Dp'La400OBE!,?K<1*!G)$'!h#!\!3!Z>6!aw400OB+C+&*!,?K<1*!\!3!7">6!aw
G'BB3!763!7"
39:0;<3='7<88/7XW'-8/G4/Ge39:7/;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&*
7>nn!!i}8>6!h#j
7>Z
<=98''4>A7?=''05;;8_'`'HH'LaU?K<1*!'.((0E!}7n!aw
U?K<1*!'.((0E!}!"l!aw
<=98'988tE_'4>A7?='G'^'La400OB+C+&*!,?K<1*\!3!p>6!aw}!h#!,1'()&1/0+!\!3!l!awU?K<1*!'.((0E!}!l>6!aw
G'qF3!88
3!"6
<=98'E>:>398 F\]^ <=98''4>A7?=''05;_'`'DFD'La <=98'988/E_'4>A7?='G'DDC]B'La G'BHD
OOO'6<1;939?0<:'4/0'07>:93?<0'D'/='B'OOO
;+-+! <)C(%$%1')&! I%1*! %((%$%|*$+! .&! ?<%$*!
,+! "Z6!C1001%$,'! ,A+.$)'! @! 0AG)$1N)&! "686>! 2.1!
$+($?'+&*+! 0+! *)*%0! <.C.0?! ,+'! ?<)&)C1+'!
/.,B?*%1$+'! ($)()'?+'! ,%&'! '<?&%$1)! ">!
$%(()$*?+'! %.D! ,?$15+'! /.,B?*%1$+'! $?'.0*%&*!
,.!'<?&%$1)!7!i*%/0+%.!<13,+'').'j
OOO'6<1;939?0<:'4/0'07>:93?<0'BCFC'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
!"n!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN' %d!-Mn !(' u' !d$("*'#" -&#",'#&#'6d)d'
b&!<)&'1,O$+!2.+!0+!$?'+%.!%.*)$).=+$!<)&<?,?!
?2.101/$+! '+'! <)z*'! i,+! I)&<=)&&+C+&*! +*!
,A1&5+'=''+C+&*j! (%$! 0+'! $+<+-+'! ,+'! .'%B+$'>!
,%&'! 0+! <%,$+! ,+'! <)&*$%*'! ,+! <)&<+''1)&!
R! ! G1'*)$12.+'! S! i0)$'! ,+! 0%! ($15%='%=)&j! ).!
.0*?$1+.$'E!
4T9" g=+)&#!" (=." <.*" <&" #+)!/'2(!/" ,!" /2*?&!"
N(.(%2!/" #&" '.L)/!" #=$&D/.0!" <&1,2%" #.(*" " ,!*"
%$()/.)*"#!"%$(%!**2$(" ,!*"<,&*"/+%!()*" ;g.(0$("
b" S.&>" <./" !h!'<,!C>" !(" %.*" #=+D$,&Q$(" )/M*"
#+:.D$/.1,!9
NNN'e -&##(M(#
:+! $?'+%.! $).=+$! &%=)&%0! %! /?&?K<1?! +&! "66p!
,A.&+!,)*%=)&!,+! I)&<=)&&+C+&*! ,+! 0A9*%*! ,+!
($O'!,+!6>p!C1001%$,!,A+.$)'!i%5+<!0%!$?B?&?$%=)&j>!
,)&*! 0+!C)&*%&*!%!?*?! $?,.1*! 0)$'!,+'!+D+$<1<+'!
'.15%&*'!i36>"Z!C1001%$,!,A+.$)'!+&!"67"j
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
c%1&=+&! ,+! <+-+! $+'').$<+! /.,B?*%1$+! ,+! 6>p!
aw!+&!+.$)'!<)&'*%&*'!'.$!0%!(?$1),+!"6763"686!
i(%'!,A1C(%<*!'.$!0%!,?$15+!,?K<1*%1$+j
;+-+! GL()*GO'+! ,+! '*%/101*?! /.,B?*%1$+!
(+$C+-$%1*! ,A%''.$+$! .&! +&*$+=+&! <).$%&*!
'%='I%1'%&*>! '%&'! ,?B$%,%=)&! ,.! &15+%.! ,+!
'+$51<+! )M+$*! \! 0+'! /+')1&'! '.((0?C+&*%1$+'! ,+!
C1'+!@!&15+%.!,.!$?'+%.!+*!,A+&*$+=+&!($?5+&=I!
'+$%1+&*!<)C(+&'?'!(%$!0%!$?,.<=)&!,+'!/+')1&'!
,+!C1'+!+&!'?<.$1*?!,+'!*.&&+0'E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
U1C1&.=)&!,+!"6!v!,+! 0%!$+'').$<+!/.,B?*%1$+!
%M+<*?+!@!0A+&*$+=+&!$).=+$!@!0AG)$1N)&!"686
;+-+!,1C1&.=)&>!?*%0?+!'.$!"6!%&'!i37!v!(%$!%&!+&!
+.$)'!<)&'*%&*'j!(+$C+-$%1*!,+!01C1*+$!0+'!$1'2.+'!
,+! ,?B$%,%=)&! ,.! $?'+%.! $).=+$! C)L+&&%&*!
,+'! +M)$*'! '.((0?C+&*%1$+'! ,+! ($),.<=51*?!
$?(%$='!'.$!0%!(?$1),+E!900+!1C(012.+!,+'!($)B$O'!
1C()$*%&*'!,+!0%!($),.<=51*?>!&)*%CC+&*!,%&'!
0A)$B%&1'%=)&! +*! 0A+D*+$&%01'%=)&! ,+! <+$*%1&+'!
*�<G+'E!:A?<)&)C1+!<.C.0?+!'+$%1*!,+!"!C1001%$,'!
,A+.$)'!'.$!0%!(?$1),+!"6763"686
NNN'-#i($ -$$(M(# $
:+'!<)C(*+'!*$%&'()$*!%y<G+&*!+&!%&&?+!"676!
.&+!,?(+&'+!,A1&5+'=''+C+&*!,+! 0A9*%*!().$! 0+!
]?'+%.!$).=+$!&%=)&%0!,+!7>nZ!C1001%$,!,A+.$)'>!
,%&'!0%!C)L+&&+!,+'!Z!,+$&1O$+'!%&&?+'E
!"o!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
c1'+!+&!k.5$+!,.![W`#!'.$!"H!%&'>!@!'%5)1$!i;IE!
($)F+*!,+![W`#!)<*)/$+!"677jE
x!')>@/8<;;/1/:=! i&).5+00+'! '+<=)&'!
<)&<?,?+'jE! [.$! 0+'! 78>Z! C1001%$,'!
,A1&5+'=''+C+&*'! ($?5.'! %.! [W`#>! .&+! (%$=+!
+'*! ,?F@! +&B%B?+! ).! '+$%! %,)''?+! @! ! ,+'!
<)&<+''1)&'! G1'*)$12.+'! i'%&'! '.((0?C+&*!
,+! ,?(+&'+! (./012.+jE! :+! ')0,+>! +'=C?! @!
p>n!C1001%$,'! ,A+.$)'! i,)&*! 7!C1001%$,! ().$! 0%!
];94j! 1C(012.+$%1*! .&+! ,?(+&'+! (./012.+! ,+!
0A)$,$+! ,+! 8>n!C1001%$,'! ,A+.$)'! i<)C(*+! *+&.!
,+!0%!(%$*!,+!n6!v!(%L?+!(%$!0+'!.'%B+$'j>!')1*!
6>7H6!C1001%$,!(%$!%&!!'.$!"H!%&'
x!'M<4/3:?09X<:!iYUc`!+*!%.*$+'!%C?&%B+C+&*!
,+!$).*+'!+D1'*%&*+'j!""!C1001%$,'!,A+.$)'>!')1*!
.&+!,)*%=)&!(./012.+!,+! 0A9*%*! in6!vj!+*!,+'!
<)00+<=51*?'!iZ6!vj!,+!6>p!C1001%$,!,A+.$)'!(%$!
%&!'.$!"H!%&'E
x!'!>E>:>39X<:! ">H! C1001%$,'! ,A+.$)'>! ')1*!
C]D'1?88?934';93'9:!'.$!"H!%&'
4.!*)*%0!\!6>7H!}!6>p6!}!6>76!�!7>7H!C1001%$,!(%$!%&E!
;+! C)&*%&*! ,+! 7>"! C1001%$,! (%$! %&! ,A1&5+'='3
'+C+&*'! $).=+$'! ,+! 0A9*%*! <)$$+'()&,$%1*! %.!
C%1&=+&! ,+! 0A+M)$*! /.,B?*%1$+! <)&'+&=! +&!
"66p! ().$! 0+'! YUc`! i6>p! C1001%$,! ,A+.$)'! 9*%*!
}! <)00+<=51*?'j! +*!,)&<!%.!C%1&=+&!,+'! <$?,1*'!
/.,B?*%1$+'!,A1&5+'=''+C+&*!%M+<*?'!%.D!$).*+'!
&%=)&%0+'!,+(.1'!"66pE
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
x!!,/0' ?:@/0X00/1/:=0' 4/' 4>@/8<;;/1/:=!i&).5+00+'! '+<=)&'! <)&<?,?+'j! '+$%1+&*!
*).'! ,1M?$?'>! @! 0A+D<+(=)&! ,+! <+.D! \! i7j! ,?F@!
+&B%B?'! i<)&*$%*'! ,+! <)&<+''1)&'! '1B&?'>! *+0'!
2.+! 0+! <)&*).$&+C+&*! ).+'*! ,+! [*$%'/).$B>!
(%$! +D+C(0+j! {! i"j! &+! &?<+''1*%&*! (%'! ,+!
'./5+&=)&! (./012.+! {! i8j! <)$$+'()&,%&*!
@! ,+'! %D+'! *$%&'5+$'%.D! *$O'! +C($.&*?'! +*!
%<<1,+&*)BO&+'!i<+$*%1&+'!'+<=)&'!,+!0%!];94>!
(%$!+D+C(0+j!{!iZj!(+$C+-%&*!0+!/).<0%B+!,+!0%!
d$%&<101+&&+!i476Z!).+'*>!(%$!+D+C(0+jE
:A?<)&)C1+! /.,B?*%1$+! i9*%*! }! <)00+<=51*?'j! %!
?*?!+'=C?+!,+! 0A)$,$+!,+!7>l!C1001%$,!,A+.$)'!
'.$!0%!(?$1),+!"6763"686!i@!,1$+!,A+D(+$*jE
x!!,/0' ?:@/0X00/1/:=0'4/'1<4/3:?09X<:! iYUc`!
+*!%.*$+'!%C?&%B+C+&*!,+!$).*+'!+D1'*%&*+'j!
'+$%1+&*! ,1C1&.?'! ,A%.!C)1&'! "6!v>! ')1*! .&+!
?<)&)C1+! /.,B?*%1$+! i9*%*! }! <)00+<=51*?'j! ,+!
0A)$,$+! ,+! Z! C1001%$,'! ,A+.$)'! '.$! 0%! (?$1),+!
"6763"686E
x!!,/0' ?:@/0X00/1/:=0'4/'3>E>:>39X<:! '+$%1+&*!C%1&*+&.'! \! ">H!C1001%$,'! ,A+.$)'! '.$! "H! %&'>!
')1*!6>7!C1001%$,!(%$!%&E
:A?<)&)C1+! <.C.0?+! '.$! 0%! (?$1),+! "6763"686!
'+$%1*!,+!0A)$,$+!,+!H>l!C1001%$,'!,A+.$)'
"7X<:0'053'8/0'3/00<537/0'4/0'509E/30
4!(%$=$!,+!F.1&!"678>!0A9*%*!+*!0+'!,?(%$*+C+&*'!
,1'()'+$)&*! ,A.&+! $+'').$<+! &).5+00+! ,+'!
.'%B+$'>! 0A?<)*%D+! ()1,'! 0).$,'>! 2.1>! %((012.?+!
'.$! 76! 666! ~C! ,+! $).*+'! &%=)&%0+'! %5+<! .&!
*%$1I!,+!6>76!@!6>7Z!<Ew ~C>!,)1*! $%(()$*+$!on6!
C1001)&'!,A+.$)'!(%$!%&E
U%&'!.&+!?*%(+!.0*?$1+.$+>!i"67H>!(%$!+D+C(0+j!
0A9*%*! +*! 0+'! ,?(%$*+C+&*'! ().$$%1+&*! ,?<1,+$!
,A?*+&,$+!<+-+!?<)*%D+!%.D!5?G1<.0+'!0?B+$'!ihY!
+*!h_:j>!').'!$?'+$5+!,A.&!+D%C+&!($?%0%/0+!,+!
I%1'%/101*?!+*!<)z*E!9&!01C1*%&*!,+!<+-+!+D*+&'1)&!
%.D! %.*)$).*+'! &)&! <)&<?,?+'! +*! %.D! 5)1+'!
+D($+''! i&%=)&%0+! +*! ,?(%$*+C+&*%0+'j! @! G%.*!
&15+%.!,+!'+$51<+!%K&!,+!01C1*+$!0+'!?5%'1)&'!,+!
*$%K<>!0%!$+<+-+!&+-+!%&&.+00+!'.((0?C+&*%1$+>!
%.! *%$1I! ,+! 6>68! +.$)' ~C!().$! 0+'!h:! ().$$%1*!
Q*$+!,+!0A)$,$+!,+!"!C1001%$,'!,A+.$)'!(%$!%&>!')1*!
.&!%00OB+C+&*!,+!0%!,?$15+!,?K<1*%1$+!,+!0A)$,$+!
,+!"H!C1001%$,'!,A+.$)'!'.$!0%!(?$1),+!"6763"686E!
;)C(*+! *+&.! ,+! '+'! <)&'?2.+&<+'! ')<1%0+'>!
<+-+! C+'.$+! ,+5$%1*! Q*$+! ($1'+! +&! <)G?$+&<+!
%5+<! 0A?5)0.=)&!,.!($1D! ,.!(?*$)0+! +*! <+00+! ,+'!
*%D+'!'(?<1K2.+'!'.$!0+'!<%$/.$%&*'!%.*)C)/10+'!
i#`;Y9jE! _&+! ')0.=)&! %0*+$&%=5+! <)&'1'*+$%1*!
@! $??5%0.+$! +&! +.$)'! <)&'*%&*'! '.$! 0%! (?$1),+!
"6763"686!0%!*%D+!#`;Y9!,)&*!0%!5%0+.$!%.!01*$+!+'*!
$+'*?+!'*%/0+!+&!+.$)'!<).$%&*'!,+(.1'!(0.'1+.$'!
%&&?+'! \! 0%! $+'').$<+! (./012.+! C)L+&&+!
'.((0?C+&*%1$+!'.$!0%!(?$1),+!"6763"686!'+$%1*!
,+! 0A)$,$+! ,+! 7>H! C1001%$,! ,A+.$)'! (%$! %&! ().$!
0+'! '+.0'! 5?G1<.0+'! 0?B+$'>! ')1*! .&! %00OB+C+&*!
,+!0%!,?$15+!,?K<1*%1$+!,+!0A)$,$+!,+!86!C1001%$,'!
,A+.$)'E!
!"l!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
[).'!<+'!$?'+$5+'>!10!'+$%1*!)(()$*.&!,A?*.,1+$!0%!
I%1'%/101*?! *+<G&12.+!+*!?<)&)C12.+!,A.&+!*+00+!
+D*+&'1)&!,+!0A?<)*%D+!()1,'!0).$,'>!%1&'1!2.+!0+'!
<)&,1=)&'!,%&'!0+'2.+00+'!<+!,1'()'1=I!().$$%1*>!
,%&'! 0+'! %1$+'! .$/%1&+'! ,+'! %BB0)C?$%=)&'! ,+!
(0.'! ,+! 866! 666! G%/1*%&*'>! '+! <)C/1&+$! %5+<!
0A1&'*%.$%=)&!,+'!(?%B+'!.$/%1&'!$+&,.+!()''1/0+!
(%$!0A%$=<0+!nH!,+!0%!0)1!a$+&+00+!"E
e-6K('D'G'!d$("*'!&* -(!'#" -&#",'G'!d6"%- *," -e
OOO'$7>:93?<'D'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD['!>0/95'3<5X/3':9X<:98 ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*! 7>7H [*%/0+!'.$!0%!(?$1),+ Y%'!,+!,?K<1*!'.((0?C+&*%1$+
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* 7>nZ Y+$C+*!,+!K&%&<+$!0+![W`# Y%'!,+!,?K<1*!'.((0?C+&*%1$+
]+<+-+!9<)*%D+!()1,'!0).$,' 6>on!aw! %&!%($O'!"678 400OB+C+&*!,?K<1*!\!3!78>8!aw
& ", <=98'988tE_'4>A7?='G'DF]F'La
OOO'$7>:93?<'B'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD['!>0/95'3<5X/3':9X<:98 ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*! 7>7H U1C1&.=)&!,+!7!v!(%$!%& 400OB+C+&*!,?K<1*!\!3!">6!aw
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* 7>nZ 7l!aw![W`#!%.!01+.!,+!"Z! 400OB+C+&*!!,?K<1*!\!3!n!aw
]+<+-+!9<)*%D+!()1,'!0).$,' 6>on!aw! %&!%($O'!"678 400OB+C+&*!!,?K<1*!\!3!78>8!aw
(Q=/:0?<:'(7<=9Q/'95Q'i, D]I'La'N'9:'9;3t0'BCDq "88tE/1/:=''4>A7?='u'G'Bq]q'La
& ", <=98'988/E_'4>A7?=_''G'HI'La
!"p!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'%d!-Mn !('
]?'+%.D! $).=+$'! ,?(%$*+C+&*%.D! +*! 0)<%.D!
i<)CC.&+'! +*! 1&*+$<)CC.&%01*?'! .$/%1&+'! +*!
$.$%0+'jE!4.!87!,?<+C/$+!"676>! 0+'! '*%='=2.+'!
,+! 0A_]d! i_&1)&! $).=O$+! ,+! d$%&<+j! $+<+&'+&*!
8ol! 666! ~C! ,+! $).*+'! ,?(%$*+C+&*%0+'! i,)&*!
+&51$)&! 7! H66! ~C! @! <G%.''?+'! '?(%$?+'j>! +*!
n86!666!~C!,+!!$).*+'!+*!$.+'!<)CC.&%0+'E!;+'!
$).*+'! '.(()$*%1+&*! i+&! "676j! .&! *$%K<! +'=C?!
@!8np!C1001%$,'!,+!5?G1<.0+'!D!~C>!')1*! 0+'!,+.D!
=+$'!,+! 0%! <1$<.0%=)&! $).=O$+! *)*%0+!+&! d$%&<+!
i+&!0?BO$+!/%1''+!,+(.1'!76!%&'jE!
[+0)&! 0A%'')<1%=)&! ,+! U1$+<*+.$'! ,+! [+$51<+'!
#+<G&12.+'! U?(%$*+C+&*%.D! i4[#Uj>! 0+'!
8ol! 666! ~C! ,+! $).*+'! B?$?+'! %<*.+00+C+&*!
(%$! 0+'! U?(%$*+C+&*'! 5)&*! ,+! 0%! (+=*+! $).*+!
,A1&*?$Q*! 0)<%0! @! ,+'! 1&I$%'*$.<*.$+'! 0).$,+'!
<)CC+! 0+! (?$1(G?$12.+! 0L)&&%1'E! :+! $?'+%.!
R! '*$.<*.$%&*! S! $+($?'+&*+! +&51$)&! "6! @! "H! v!
,.! 01&?%1$+! *)*%0! \! 10! <)C($+&,! 0+'! 7l! 666! ~C!
,A%&<1+&&+'!R!$).*+'!&%=)&%0+'!,A1&*?$Q*!0)<%0!S!
*$%&'I?$?+'!+&!"66n!%.D!U?(%$*+C+&*'>!2.1!)&*!
I%1*! 0A)/F+*! ,A1C()$*%&*'! *$%5%.D! ,+! $+C1'+! @!
&15+%.D!).!,+!'?<.$1'%=)&!i}!86!v!0A1&*+$5+&=)&!
'.((0?C+&*%1$+! ,+'! ;)&'+10'! B?&?$%.D! '.$! <+!
$?'+%.jE!
g!*".&)!&/*"(=$()"<.*"<&"%$((.L)/!",."/+<./QQ$("
#!*" /$&)!*" %$''&(.,!*" !()/!" ,!*" D$2!*" !(" /.*!"
%.'<.0(!>" ,!*" D$2!*" &/1.2(!*" #!" #2*)/21&Q$("
;/&!*" !)" .D!(&!*" G" :$/)" )/.N%C" !)" ,!*" D$2!*" #!"
#!**!/)!"#=2''!&1,!"$&"#!",$Q**!'!()*"&/1.2(*"
;%$'</!(.()" ,!*"%-!'2(!'!()*"<2+)$(*"!)"#!&h"
/$&!*"!)",!*"!*<.%!*"#!"*).Q$((!'!()"<&1,2%C9"3,"
!*)"</$1.1,!"?&!"#=.&)/!*"!*<.%!*"<&1,2%*"&/1.2(*"
;<,.%!*" <&1,2?&!*" $&" +?&2D.,!()*C" *$()*" 2(%,&*"
#.(*",!*"#+<!(*!*"#!"D$2/2!>".,$/*"?&=2,*"(=$()"<.*"
#!":$(%Q$(",2+!".&")/.(*<$/)9
NNN'e -&##(M(#
[+0)&!0+'!;)C(*+'!,+'!*$%&'()$*'>! 0+'!,?(+&'+'!
(./012.+'! ,+! I)&<=)&&+C+&*! ,+! 0%! 5)1$1+!
,?(%$*+C+&*%0+! +*! <)CC.&%0+! 'A?0+5%1+&*! @!
Z>o!C1001%$,'!,A+.$)'!i%5+<!.&+!1&*+$$)B%=)&!'.$!
0%!($1'+!+&!<)C(*+!,+'!,?(+&'+'!,+!(+$')&&+0'jE!
900+'!)&*! <)&&.!.&+! <$)1''%&<+!,+!(0.'!,+!8!v!
,+(.1'! "66l>! I%1'%&*! '.1*+! @! .&! '%.*! 1C()$*%&*!
+&*$+!"66o!+*!"66l!i}6>o!C1001%$,!01?!%.D!*$%&'I+$*'!
,+'! $).*+'! &%=)&%0+'! %.D! ,?(%$*+C+&*'j>! +*!
%($O'!.&+!<+$*%1&+!'*%/101*?!+&*$+!"66Z!+*!"66oE
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
[+0)&! 0A4[#U>! 0%! I)$*+!<$)1''%&<+!"66l3"66p!,+'!
/.,B+*'! $).=+$'!,?(%$*+C+&*%.D!'A+D(012.+$%1*!
(%$! 0+! *$%&'I+$*! ,+'! 7l66! ~C! ,+! $).*+'!
&%=)&%0+'! {! 0%! *+&,%&<+! %<*.+00+! '+C/0+! Q*$+!
0%! '*%/101*?!/.,B?*%1$+>!%5+<! $+<G+$<G+!,+!B%1&'!
,+! ($),.<=51*?>! %K&! ,+! ($?'+$5+$! 0+'! &15+%.D!
,+! '+$51<+! +*! ,A%''.$+$! .&+! C%1&*+&%&<+!
'%='I%1'%&*+!,.!(%*$1C)1&+E
9&! 0A%/'+&<+! ,A1&I)$C%=)&'! '.$! 0+'! $?'+%.D!
<)CC.&%.D! 0+'! %.*+.$'! )&*! <)&'1,?$?! 2.+>!
,%&'!0+'!"6!%&&?+'!@!5+&1$>!0%!,?(+&'+!(./012.+!
<)CC.&%0+!'+$%1*!'*%/101'?+!+&!+.$)'!<)&'*%&*'!
+*! 2.A+00+! (+$C+-$%1*! ,+! <).5$1$! <)$$+<*+C+&*!
0+'!/+')1&'!,A+&*$+=+&!<).$%&*!,+!<+'!$?'+%.DE!
U%&'! <+'! (+$'(+<=5+'>! 0+! I)&<=)&&+C+&*! ,+'!
$?'+%.D!$).=+$'!,?(%$*+C+&*%.D!+*!<)CC.&%.D!
&A+&*$%|&+$%1*!(%'!!,+!,?$15+!,?K<1*%1$+!(./012.+!
'.$!0%!(?$1),+!"676!3!"686E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
[).'! 0A+M+*! ,+'! <)&*$%1&*+'! /.,B?*%1$+'>! ,+'!
+M)$*'! '.((0?C+&*%1$+'! ,+! ($),.<=51*?! ,+!
0%! B+'=)&! ,+'! $?'+%.D! ,?(%$*+C+&*%.D! +*!
<)CC.&%.D! ,+5$%1+&*! Q*$+! +&*$+($1'! %.! <).$'!
,+'!($)<G%1&+'!%&&?+'!i@!.&!$L*GC+!<)C(%=/0+!
%5+<! 0+! $+&).5+00+C+&*! ,+'! (+$')&&+0'j>! (%$!
+D+C(0+!,+!7!v!(%$! %&!G)$'! 1&J%=)&>! ')1*! .&+!
$?,.<=)&! ,+! ,?(+&'+! (./012.+! ,+! 0A)$,$+! ,+!
H!C1001%$,'!,A+.$)'!'.$!0%!(?$1),+!"6763"686E
3," *!/.2)" $<<$/)&(" #=.(.,i*!/>" #.(*" %!R!"
<!/*<!%QD!>" ,!*" 02*!'!()*" #!" </$#&%QD2)+"
*&<<,+'!().2/!*"G"!(D2*.0!/"<$&/",!*"#2j+/!()!*"
%.)+0$/2!*" #!" /+*!.&h" #+<./)!'!().&h" !)"
%$''&(.&h>" ($).''!()" <./" ,=!h)!/(.,2*.Q$("
#!"%!/).2(!*":$(%Q$(*";%$()/.)*"#!"<./)!(./2.)*"
*Q'&,.()",=2(($D.Q$(C9
e-6K('B'G'!d$("*g'!&* -(!$',&6"*g
!86!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'-#i($ -$$(M(# $
:+'!<)C(*+'!*$%&'()$*!%y<G+&*!+&!%&&?+!"66p!.&+!
,?(+&'+!,A1&5+'=''+C+&*!,+'!<)00+<=51*?'!0)<%0+'!
+&!5)1$1+!,+! 0A)$,$+!,+!p!C1001%$,'!,A+.$)'! i%($O'!
,?,.<=)&!,+'!*$%&'I+$*'!+&*$+!0+'!<)00+<=51*?'j!2.1!
'+!$?(%$=''+&*!(%$!C)1=?!+&*$+!0+'!,?(%$*+C+&*'!
+*! 0+'! <)CC.&+'E! [.$! 0+'! '1D! ,+$&1O$+'! %&&?+'>!
<+'!,?(+&'+'! '+! ')&*!%<<$.+'!,A+&51$)&!7H!v!+&!
+.$)'!<)&'*%&*'>!.&!(+.!(0.'!$%(1,+C+&*!().$!0+'!
<)CC.&+'!2.+!().$!0+'!,?(%$*+C+&*'E!
[+0)&!0A4[#U>!.&+!*+&,%&<+!0).$,+!@!.&+!/%1''+!
,+'! 1&5+'=''+C+&*'! $).=+$'! ,?(%$*+C+&*%.D!
'+C/0+! 'A%y$C+$E! :+'! <)&*$%1&*+'! /.,B?*%1$+'!
<$)1''%&*+'!+*!0+!C%&2.+!,+!51'1/101*?!'.$!0A%5+&1$!
,+'! U?(%$*+C+&*'! i<IE! $?I)$C+! *+$$1*)$1%0+! ,+!
,?<+C/$+! "676j! (%$=<1(%&*! @! <+-+! ?5)0.=)&E!
:+'!+&B%B+C+&*'!,A)(?$%=)&'!&).5+00+'!'+!I)&*!
,+!(0.'!+&!(0.'!$%$+'E
;)&<+$&%&*!0+'!5)1$1+'!<)CC.&%0+'!+*!&)*%CC+&*!
0%! 5)1$1+! .$/%1&+>! +&51$)&! lHv! ,+'! ,?(+&'+'!
+D*+$&%01'?+'! $+0O5+$%1+&*! ,+! 0%! C%1&*+&%&<+!
,+! 0%! 5)1$1+>! 0+! $+'*+! i+&51$)&!7Hvj!()$*%&*! '.$!
0%! $+2.%01K<%=)&! ,A+'(%<+'! (./01<'! i(%''%B+'!
,+!#;[Y>!$?I+<=)&'!,+!(0%<+'!(./012.+'rj!{!.&+!
B$%&,+!(%$=+!&+!<)&*$1/.+!(%'!,1$+<*+C+&*!%.D!
I)&<=)&'!,+!C)/101*?E!g!*".&)!&/*"(=$()"<.*"<&"
%$((.2)/!",."<./)"#!"%!*"2(D!*Q**!'!()*"N(.(%+!"
<./"!'</&()" 7" *!,$(" ,!" /.<<$/)"#!" F&2("XPZZ"#!"
,." $&/*"#!*" $'<)!*>"%!R!"<./)"*!/.2)"Xn"Y"!("
'$i!((!" <$&/" ,=!(*!'1,!" #!*" 2(D!*Q**!'!()*"
#!*"%$,,!%QD2)+*",$%.,!*9
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
:+! $L*GC+! ,+! <$)1''%&<+! )/'+$5?! ,%&'! 0+! (%''?!
,+5$%1*!'A%-?&.+$E!9&!0A%/'+&<+!,A1&I)$C%=)&'!(0.'!
($?<1'+'>!0+'!GL()*GO'+'!$+*+&.+'!().$!0%!(?$1),+!
"6763"686! '+$%1+&*! .&+! '*%/101*?! ,+'! ,?(+&'+'!
,A1&5+'=''+C+&*'! ,+! 5)1$1+! ,?(%$*+C+&*%0+'!
i+&!+.$)'!<)&'*%&*'j!+*!.&+!<$)1''%&<+!C),?$?+!
i,+! 0A)$,$+! ,+! 7! v! (%$! %&j! ().$! 0+'! ,?(+&'+'!
,A1&5+'=''+C+&*!,+!5)1$1+!<)CC.&%0+E
9&! 0A%/'+&<+! ,+! $+'').$<+'! &).5+00+'! (%L?+'!
(%$! 0+'!.'%B+$'>! <+-+!<$)1''%&<+!,+! 0%!,?(+&'+!
,A1&5+'=''+C+&*! '+$%1*! &?<+''%1$+C+&*!
<).5+$*+! (%$! .&! +&,+-+C+&*! '.((0?C+&*%1$+!
,+'! <)00+<=51*?'! 0)<%0+'>! <)&,.1'%&*! %.! /).*!
,+!"6!%&'!@!.&+!,?$15+!,?K<1*%1$+!,+! 0A)$,$+!,+!
Z!C1001%$,'!,A+.$)'E!
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
"7X<:0'053'8/0'4>;/:0/0
45+<!0+'!CQC+'!1&<+$=*.,+'!'.$!0%!,?<)C()'1=)&!
,+'!1&5+'=''+C+&*'!%<*.+0'!,+!5)1$1+>!.&+!'1*.%=)&!
,+! I)$*+! <)&*$%1&*+! /.,B?*%1$+! '+! *$%,.1$%1*! (%$!
.&+! '*%/101*?! ,+'! /.,B+*'! ,A1&5+'=''+C+&*'!
$).=+$'!,?(%$*+C+&*%.D!+*!<)CC.&%.D!,%&'!0+'!
"6!%&&?+'!@!5+&1$!i+&!+.$)'!<).$%&*'jE
;+*!)/F+<=I!,+!'*%/101*?!/.,B?*%1$+!().$$%1*!Q*$+!
%-+1&*!+&!<)C/1&%&*!0+'!C+'.$+'!'.15%&*+'!\
x!!,1M?$+$!0+'!1&5+'=''+C+&*'!,+!,?5+0)((+C+&*!
,+'! $?'+%.D! ,?(%$*+C+&*%.D! i2.1!
$+($?'+&*+$%1+&*>! '+0)&! 0+'! ,?(%$*+C+&*'>!
+&*$+!"6!v!+*!H6!v!,.!5)0.C+!,A1&5+'=''+C+&*!
i<)CC+!+&!;G%$+&*+3!c%$1=C+!(%$!+D+C(0+j!
,+'!($)B$%CC+'!,A1&5+'=''+C+&*'!$).=+$'E
x!!C%1&*+&1$! 0+! &15+%.! ,+'! 1&5+'=''+C+&*'! ,+!
B$)''+'! $?(%$%=)&'! +*! 0+'! %C?&%B+C+&*'! ,+!
C),+$&1'%=)&! 01?'! @! 0%! '?<.$1*?>! @! 0%! B+'=)&!
,.! *$%K<! +*! 0%! <1$<.0%=)&! ,+'! ,+.D! $).+'! +*!
,+'! *$%&'()$*'! <)00+<=I'! i,?(%$*+C+&*'! +*!
<)CC.&+'jE
x!!?<)&)C1'+$!'.$!0+'!<)z*'!,A%C?&%B+C+&*!,+'!
5)1$1+'! .$/%1&+'! +&! %B1''%&*! '.$! 0+'! &)$C+'>!
0%! <)C()'1=)&! ,+'! ($)F+*'>! 0+! <G)1D! ,+'!
C%*?$1%.D>!+*<r
"7X<:0'053'8/0'3/00<537/0'4/0'509E/30
4! (%$=$! ,+! F.1&! "678>! 0+'! ,?(%$*+C+&*'!
,1'()'+$)&*! ,A.&+! $+'').$<+! &).5+00+! ,+'!
.'%B+$'>! 0A?<)*%D+! ()1,'! 0).$,'>! 2.1>! ! %((012.?+!
'.$!H66!~C!,+!$).*+'!,?(%$*+C+&*%0+'!%5+<!.&!
*%$1I!,+!6>76!@!6>7Z!<Ew ~C>!,)1*! $%(()$*+$!7n6!
C1001)&'!,A+.$)'!(%$!%&E
U%&'! .&+! ?*%(+! .0*?$1+.$+>! 0A9*%*! +*! 0+'!
,?(%$*+C+&*'! ().$$%1+&*! ,?<1,+$! ,A?*+&,$+!
<+-+!?<)*%D+!%.D!5?G1<.0+'! 0?B+$'! ihY!+*!h_:jE!
9&! 01C1*%&*! ,+! <+-+! +D*+&'1)&! %.D! %.*)$).*+'!
&)&!<)&<?,?+'!+*!%.D!5)1+'!+D($+''!i&%=)&%0+!+*!
,?(%$*+C+&*%0+'j!@!G%.*!&15+%.!,+!'+$51<+!%K&!
,+!01C1*+$!0+'!?5%'1)&'!,+!*$%K<>!0%!$+<+-+!&+-+!
!87!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
%&&.+00+!'.((0?C+&*%1$+>!%.!*%$1I!,+!6>68!+.$)'
~C! ().$! 0+'! h:! '+$%1*! ,+! 0A)$,$+! ,+! "!C1001%$,'!
,A+.$)'!(%$!%&>!,)&*!866!@!8H6!C1001)&'!().$!0+'!
,?(%$*+C+&*'E! 3,"*!/.2)"#$(%"$<<$/)&("#=+)!/"
,." :.2*.12,2)+" )!%-(2?&!" !)" +%$($'2?&!" #=&(!"
)!,,!" !h)!(*2$(" #!" %!R!" +%$).h!>" ?&2" *!/.2)"
.**2'2,.1,!"G"&(!"/!#!D.(%!"#=&*.0!"<,&)W)"?&=G"
&("</+,MD!'!()"$1,20.)$2/!E!
;)&<+$&%&*!0+!'*%=)&&+C+&*!(./01<!(%L%&*!,%&'!
0+'!N)&+'!.$/%1&+'!,+&'+'>!0+'!$+<+-+'>!+'=C?+'!
@!7!C1001%$,!,A+.$)'!(%$!%&!i6>Z!,+!$+<+-+'!,1$+<*+'!
+*!6>n!,+!($),.1*!,+'!%C+&,+'j>!&+!$+($?'+&*+&*!
2.A.&+! I%1/0+! (%$=+! ,+'! ')CC+'! @! (+$<+5)1$!
<)C(*+! *+&.! ,.! $+&,+C+&*! C?,1)<$+! ,.!
'L'*OC+!,+!<)&*$P0+3'%&<=)&'E!_&+!%C?01)$%=)&!
,+! <+! $+&,+C+&*>! $+&,.! ()''1/0+! (%$! 0%!
,?(?&%01'%=)&! ,+'! %C+&,+'! i$+<)CC%&,%=)&!
,.! $?<+&*! $%(()$*! ,.! [?&%*+.$! :).1'! WOB$+j>!
(+$C+-$%1*! ($)/%/0+C+&*! ,+! C.0=(01+$! (%$!
*$)1'! ).! 2.%*$+! <+! $+&,+C+&*! i<IE! 1&'*%00%=)&!
,+'! $%,%$'! %.*)C%=2.+'! ().$! 0+! <)&*$P0+! ,+'!
1&I$%<=)&'! ,+! '?<.$1*?j>! <+! 2.1! $+($?'+&*+! @!
*+$C+! .&+! $+'').$<+! '.((0?C+&*%1$+! %&&.+00+!
,+! "! @! 8!C1001%$,'! ,A+.$)'! ().$! 0+'! <)CC.&+'E!
gG" !(%$/!>" 2," %$(D2!(#/." #=+)!/" ,!*" *i*)M'!*"
)!%-(2?&!*" !)" .#'2(2*)/.Q:*" #!" %$()/W,!>" ?&2"
<!/'!R/.2!()" ,." '2*!" o&D/!" #!" <$,2Q?&!*"
#!" *).Q$((!'!()" <.i.()" 0+(+/.,2*+" #.(*" ,!*"
0/.(#!*"D2,,!*";%$'<./.2*$(*".D!%"#=.&)/!*"D2,,!*"
!&/$<+!((!*C9!!
9&K&>! 0A%$=<0+! nH! ,+! 0%! 0)1! a$+&+00+! "! $+&,!
()''1/0+! 0%!C1'+!k.5$+!,+!(?%B+'!.$/%1&'!,%&'!
0+'!%BB0)C?$%=)&'!,+!(0.'!,+!866!666!G%/1*%&*'>!
@! 0%! ,+C%&,+! ,+! 0A%.*)$1*?! )$B%&1'%*$1<+! ,+'!
*$%&'()$*'! .$/%1&'>! ().$! 01C1*+$! 0%! <1$<.0%=)&!
%.*)C)/10+! +*! 0.-+$! <)&*$+! 0%! ()00.=)&! +*! 0+'!
&.1'%&<+'!+&51$)&&+C+&*%0+'E!_&+!*+00+!C+'.$+>!
%((012.?+!(%$!+D+C(0+!@!,+'!<)$,)&'!+&*).$%&*!
0+'! N)&+'! <+&*$%0+'! ,+&'+'! ,+! <+'! B$%&,+'!
%BB0)C?$%=)&'>! ().$$%1*>! %.! *%$1I! C)L+&! ,+!
"! +.$)'! (%$! F).$! +*! (%$! 5?G1<.0+>! $%(()$*+$!
.&+! $+<+-+! /$.*+! %&&.+00+! ,+! 0A)$,$+! ,+! 7H6!
@! "H6! C1001)&'! ,A+.$)'! ,%&'! <G%2.+! B$%&,+!
%BB0)C?$%=)&!i;IE!]%(()$*!,.!;+&*$+!,A%&%0L'+!
'*$%*?B12.+! '.$! 0+! (?%B+! .$/%1&>! '+(*+C/$+!
"66ljE! !R!" '!*&/!" %$(*Q)&!/.2)" &(!" *$,&Q$("
.,)!/(.QD!" $&" %$'12(+!" .D!%" ,=!h)!(*2$(>"
+D$?&+!"</+%+#!''!()>"#!" ,=+%$I/!#!D.(%!"*&/"
,!*"D$2!*"/.<2#!*"(.Q$(.,!"$&"#+<./)!'!().,!*>"
?&2"#/.2(!()" ,=!**!(Q!,"#&")/.N%"<+(+)/.()"#.(*"
,!*".00,$'+/.Q$(*"#!(*!*9
e-6K('B'G'!d$("*g'!&* -(!$',&6"*g'G'!d6"%- *," -e
OOO'$7>:93?<'D'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD['!>0/95'3<5X/3''7<88/7X@?=>0'8<798/0
ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*! Z>o [*%/0+!'.$!0%!(?$1),+ Y%'!,+!,?K<1*!'.((0E
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* p>6 ;$)1''%&<+!}!6>H!v! !%& U?K<1*!'.((0E!}!Z>6!aw
]+<+-+!?<)*%D+!()1,'!0).$,' 6>7n!aw! %&!%($O'!"678 400OB+C+&*!,?K<1*\!3!">o!aw
& ", <=98'4>A7?='05;;8_'`'D]F'La
OOO'$7>:93?<'B'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD['!>0/95'3<5X/3''7<88/7X@?=>0'8<798/0
ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*! Z>o U1C1&.=)&!,+!7!v!(%$!%& 400OB+C+&*!,?K<1*!\!3!H>6!aw
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* p>6 [*%/101*?!/.,B?*%1$+!i36>H!v!!
(%$!$%(()$*!%.!*+&,%&<1+0j
Y%'!,+!,?K<1*!'.((0?C+&*%1$+
]+<+-+!?<)*%D+!()1,'!0).$,' 6>7n!aw! %&!%($O'!"678 400OB+C+&*!,?K<1*\!3!">o!aw
9D*+&'1)&!9<)*%D+!%.D!h: 6>8H!aw! !%&!%($O'!"67H 400OB+C+&*!,?K<1*!\!3!H>8!aw
[*%=)&&+C+&*!(%L%&* 7>6 ]+&,+C+&*!}!H!v!(%$!%& 400OB+C+&*!,?K<1*!\!3!H>6!aw
& ", <=98'988/E_')>A7?='u'G'D\'La
!8"!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'%d!-Mn !('
[L'*OC+!I+$$)51%1$+!&%=)&%0>!%.!'+&'!,+'!%''1'+'!
&%=)&%0+'! ,.! I+$$)51%1$+! i;IE! '<G?C%! ,+'! J.D!
K&%&<1+$'! ! ,+'! 4''1'+'! ,.! I+$$)51%1$+! i(0?&1O$+!
,.! 7l! )<*)/$+! "677jE! ;+! 'L'*OC+! <)C($+&,!
0+! (?$1CO*$+! ]dd! }! [W;d>! ,)&*! 0+'! $+'').$<+'!
($)51+&&+&*!\
x!!,+'! './5+&=)&'! ).! ,)*%=)&'! (./012.+'!
%.D! ,+.D! ?*%/01''+C+&*'! i]dd! +*! [W;dj>! +&!
($)5+&%&<+!,+!0A9*%*!+*!,+'!<)00+<=51*?'!0)<%0+'E
x!!,+'!($),.1*'!+&!($)5+&%&<+!,+'!<01+&*'!($15?'!
i5)L%B+.$'!(./01<'j!+*!(./01<'!i5+$'+C+&*'!#9]>!
*$%&'()$*'! I$%&<101+&'! +*! *%$1I'! ')<1%.Dj! {! <+'!
,+$&1+$'! 5+$'+C+&*'! ')&*! ($1'! +&! <)C(*+>! +&!
*%&*! 2.+! ,?(+&'+'! (./012.+'>! ,%&'! 0+'! K<G+'!
<)&'%<$?+'!%.D!*$%&'()$*'!$?B1)&%.D!+*!@!0A`0+3
,+3d$%&<+E
WVE! 7E! :%! 2.+'=)&! ,+! 0%! ,+-+! ()$*?+! (%$! ]dd!
1C(012.+!.&!+D%C+&!(%$=<.01+$!<)C(*+!*+&.!,+'!
1&*?$Q*'!%&&.+0'!2.A+00+!B?&O$+!+*!,+'!<)&,1=)&'!
,+!')&!$+K&%&<+C+&*E! !;+-+!,+-+!+'*!?5%0.?+!
@!"o!C1001%$,'!+&!"676!+*!0%!(%$=+!$+C/).$'%/0+!
(%$! 0+'!(?%B+'! I.*.$'!().$$%1*! 5%$1+$!+&*$+!6!+*!
l!C1001%$,'!,A+.$)'!'+0)&!0%!,?$15+!,+'!$+<+-+'!+*!
,+'!,?(+&'+'!I.*.$+'E!:%!<G%$B+!,+'!1&*?$Q*'!,+!
0%!,+-+!i,+!0A)$,$+!,+!7!C1001%$,!,A+.$)'!(%$!%&j!
'A%F).*+! %.D! ,+'! ,?(+&'+'! ,+! I)&<=)&&+C+&*!
,.! $?'+%.! I+$$)51%1$+E! :+! $+K&%&<+C+&*! ,+!
0%! ,+-+! @! ,+'! *%.D! ().5%&*! Q*$+! '.(?$1+.$'!
%.D! *%.D! %<*.+0'! +&*$%|&+$%1*! .&+! ,?(+&'+! ,+!
I)&<=)&&+C+&*! '.((0?C+&*%1$+! +*! ,)&<! .&+!
5%$1%=)&!'.((0?C+&*%1$+!,+!0%!,+-+E
WVE!"E!:+'!,?(+&'+'!+*!0A+&,+-+C+&*!(./01<'!01?'!
%.D! *$%&'()$*'! I+$$)51%1$+'! <)&5+&=)&&?'! i#9#>!
#9]!+*![W;d!I$%&<101+&j!')&*!+D%C1&?'!,%&'!,+'!
K<G+'!'?(%$?+'!iI%1'%&*!1&*+$5+&1$!0+'!$+'').$<+'!
(./012.+'! ,+'! %.*)$1*?'! )$B%&1'%*$1<+'! ,+!
*$%&'()$*!\!9*%*>!$?B1)&'!+*![#`dj
NNN'e -&##(M(#
:+'! %''1'+'! ,.! I+$$)51%1$+! i<)CC1''1)&! &�8! '.$!
0A?<)&)C1+! ,.! I+$$)51%1$+j! )&*! $+<)&'=*.?! .&!
'<G?C%! ,+'! J.D! K&%&<1+$'! ().$! 0A%&&?+! "66p!
,%&'!0+2.+0!\
:+'! ,?(+&'+'! (./012.+'! 2.1! (+$C+-+&*!
,A?2.101/$+$!0+'!<)z*'!<)C(0+*'!,+!I)&<=)&&+C+&*!
,.!$?'+%.!I+$$)51%1$+!i(%$*!,+'!,?(+&'+'!*)*%0+'!
,+! I)&<=)&&+C+&*! %.! <)z*! <)C(0+*! &)&!
<).5+$*+'! (%$! 0+'! ($),.1*'! ($15?'! +*! (./01<'! \!
5+&*+'!,+!/100+*'>!(?%B+'>!+*!%.*$+'!($+'*%=)&'>!
;IE!<13,+''.'j!'A?0O5+&*!@!(0.'!8>8!C1001%$,'!,A+.$)'>!
,)&*!">8!().$!0A+D(0)1*%=)& $?B?&?$%=)&E![.$!0+'!
,1D!,+$&1O$+'!%&&?+'>!0%!($)B$+''1)&!,+'!<G%$B+'!
,+!(+$')&&+0!iG)$'!1&J%=)&j!%!%/')$/?!0%!/%1''+!
,+'!+M+<=I'!i')1*!7>Z!v!(%$!%&jE
;+'!,?(+&'+'!')&*!<).5+$*+'!(%$!,+'!'./5+&=)&'!
,+!0A9*%*!i">H!C1001%$,'!,A+.$)'!+&!"66pj!+*>!().$!
0+!C1001%$,!,A+.$)'!$+'*%&*>!!(%$!.&!%<<$)1''+C+&*!
,+! 0%! ,+-+! +*! (%$! ,+'! $+*%$,'! %<<.C.0?'! ,+!
*$%5%.D!,+!$?B?&?$%=)&E!`0!+D1'*+!,)&<!.&!,?K<1*!
'*$.<*.$+0!,A%.!C)1&'!7!C1001%$,!,A+.$)'!(%$!%&E
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
c%1&=+&! ,+! <+-+! $+'').$<+! /.,B?*%1$+! ,+!
">8!C1001%$,'!+&!+.$)'! ! <)&'*%&*'! i(%'!,A1C(%<*!
'.$! 0+!&15+%.!,+! 0%!,+-+!'.$! 0%!(?$1),+!"676!u!
"686jE
c1'+!+&!k.5$+!,+'!,?<1'1)&'!$?<+&*+'!$+0%=5+'!
%.D! (?%B+'! +*! @! 0%! ($),.<=51*?! I+$$)51%1$+>! @!
'%5)1$! \! 0A%.BC+&*%=)&! ,+'! (?%B+'! I+$$)51%1$+'!
,+!n6!c1001)&'!,A+.$)'!(%$!%&!,A1<1! @!"67l>! ')1*!
"! v! (%$! %&! +&! +.$)'! <)&'*%&*'E! U+'! B%1&'! ,+!
($),.<=51*?! I+$$)51%1$+'! 01C1*%&*! 0%! ,?$15+! ,+'!
<)z*'!@!"!v!+&!+.$)'!<)&'*%&*'>!%5+<!&)*%CC+&*!
0+! $+B$).(+C+&*! ,+'! '+$51<+'! 1&I$%! ,+! 0%! [W;d!
+*!,+!]dd!iWV!\!0+!'*%*.*!,+'!<G+C1&)*'!+&*$%|&+!
.&+! ($)B$+''1)&! 1&<)C($+''1/0+! ,.! ah#! u!
B01''+C+&*!51+100+''+!*+<G&1<1*?!u!,+!">7!@!">"!v!
(%$!%&jE!Y$)0)&B?+'!'.$!0%!(?$1),+!"676!u!"686>!
<+'!C+'.$+'!(+$C+-$%1+&*!,+!'*%/101'+$!+&!+.$)'!
<)&'*%&*'!0%!,?(+&'+!(./012.+!iG)$'!($)B$%CC+!
,+!$?B?&?$%=)&!?5)2.?!<13,+'').'jE
e-6K('F'G' !"#$%&! 'e(!!&i-"-!('#" -&#",
!88!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
]?%01'%=)&! ,.! ($)B$%CC+! ,+! $?B?&?$%=)&!
($?5.+! %.! [W`#>! ')1*! H6! C1001%$,'! ,A+.$)'! '.$!
"H!%&'!).!"!C1001%$,'!(%$!%&>!<+!2.1!1C(012.+$%1*!
.&! +M)$*! K&%&<1+$! %&&.+0! '.((0?C+&*%1$+! ,+!
7!C1001%$,!,A+.$)'E
:+! <.C.0! ,+! <+'! ,1'()'1=)&'! <)&,.1$%1*>! '+0)&!
0%! <)CC1''1)&! 8! ,+'! 4''1'+'! ,.! I+$$)51%1$+>! @!
%.BC+&*+$!0%!,+-+!,+!]dd!,A+&51$)&!7!C1001%$,!(%$!
%&!i?2.15%0+&*+!@!0%!<G%$B+!%&&.+00+!,+'!1&*?$Q*'!
,+! 0%! ,+-+j>! ')1*! .&+! ,+-+! '.((0?C+&*%1$+!
,A+&51$)&! "6! C1001%$,'! ,A+.$)'! i<.C.0?+! '.$!
0%! (?$1),+! "6763"686j! @! 0%2.+00+! 10! I%.,$%1*!
&)$C%0+C+&*!%F).*+$!0+'!<G%$B+'!,+'!1&*?$Q*'E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
:+'! +M)$*'! ,+! $?B?&?$%=)&! ,.! $?'+%.! I+$$?!
&%=)&%0! '+$%1+&*! C%1&*+&.'! %.! $L*GC+! ($?5.!
(%$! 0+! [W`#>! <)CC+! ,%&'! 0+! '<?&%$1)! 7! i')1*!
H6! C1001%$,'! ,A+.$)'! '.$! "H! %&'>! ).! "! C1001%$,'!
,A+.$)'!(%$!%&jE
"7X<:0'053'8/0'4>;/:0/0
4.BC+&*%=)&! '.((0?C+&*%1$+! ,+! ($),.<=51*?!
,+! 0%! B+'=)&! ,.! $?'+%.! I+$$?! &%=)&%0>! %.3,+0@!
,+'! ($)B$O'! ($1'! +&! <)C(*+! ,%&'! 0+! '<?&%$1)!
7! *+&,%&<1+0E! ;+'! ($)B$O'! 1&*?B$+$%1+&*!
&)*%CC+&*!,+'! '.(($+''1)&'!,+! 01B&+'!@! I%1/0+!
*$%K<! i$+()$*?+'! '.$! ,+'! %.*)<%$'>! ')1*! .&+!
?<)&)C1+!()''1/0+!,+!866!C1001)&'!(%$!%&j>! '.$!
0A)$B%&1'%=)&! ,.! *$%5%10! ,%&'! 0A+D(0)1*%=)&! ,+'!
*$%1&'>!+*!'.$!0%!B+'=)&!.&1K?+!,+!0A1&I$%'*$.<*.$+!
i(0%B+'! *$%5%.D>! ').'3*$%1*%&<+>! C?<%&1'%=)&>!
'.$5+100%&<+! ,+'! <G%&=+$'rj>! %.! $L*GC+! ,+! 0%!
,?<$)1''%&<+! &%*.$+00+! ,+'! +M+<=I'! +*! ,A.&+!
&?<+''%1$+!,)'+!,+!<)&<.$$+&<+E
_&!)/F+<=I!,+!B%1&'!,+!($),.<=51*?!,+!0A)$,$+!,+!
7!v!(%$! %&! '.((0?C+&*%1$+! '.$! 0%!(?$1),+!"6763
"686!&+!'+C/0+!(%'!1&%-+1B&%/0+E!4((012.?!@!.&+!
,?(+&'+!%<*.+00+!,+!Z>H!C1001%$,'!,A+.$)'!(%$! %&!
iC)&*%&*! ,+! 0%! <)&5+&=)&! ,+! B+'=)&! ,?0?B.?+!
,+! 0A1&I$%'*$.<*.$+j>! 10! <)$$+'()&,$%1*! @! .&! B%1&!!
%,,1=)&&+0! ,A+&51$)&! H66! C1001)&'! (%$! %&! +*!
B?&?$+$%1*>!'.$!0%!(?$1),+!,+!"6!%&'>!!.&+!?<)&)C1+!
/.,B?*%1$+!<.C.0?+!,+!p!C1001%$,'!,A+.$)'E
9&!C%=O$+!,A+D(0)1*%=)&!,+'!'+$51<+'!I+$$)51%1$+'>!
0%! <)&<.$$+&<+! ().$$%1*! ?B%0+C+&*! C+-$+! +&!
?51,+&<+!,A1C()$*%&*'! ($)B$O'!,+!($),.<=51*?>!
*%&*!().$!0%!C%1&*+&%&<+!,+'!C%*?$1+0'!2.+!().$!
0A)$B%&1'%=)&!,+'!'+$51<+'!<)&5+&=)&&?'!i#9#!+*!
#9]!u!5)1$!K<G+!&�!Z!<1!%($O'jE
"7X<:0'053'8/0'3/00<537/0'4/0'509E/30
_&+! (0.'! B$%&,+! 01/+$*?! *%$1I%1$+! ,)&&?+!
%.D! *$%&'()$*+.$'! I+$$)51%1$+'! (+$C+-$%1*!
,A%.BC+&*+$! 0+.$'! $+<+-+'! <)CC+$<1%0+'E!
c%0B$?! 0%!G%.''+!)/'+$5?+!,+(.1'!H!@!o!%&'>! 0+!
#ha! I$%&q%1'! +'*! +&<)$+! (%$C1! 0+'!C)1&'! <G+$'!
,A9.$)(+E! `0! '+C/0+!,)&<!2.A.&+!%.BC+&*%=)&!
,+'!(?%B+'!,A1&I$%'*$.<*.$+'!I+$$)51%1$+!().$$%1*!
Q*$+!'.(()$*?+!,%&'!0+!($1D!,.!/100+*>!'%&'!()$*+$!
%-+1&*+!%.!&15+%.!,+!*$%K<>!<)C(*+!*+&.!,A.&+!
?0%'=<1*?! %.!($1D!,+! 0A)$,$+!,+! 36>oE! !4((012.?+!
@! .&+! $+<+-+! R! 5)L%B+.$'! B$%&,+'! 01B&+'! S! ,+!
n!C1001%$,'!,A+.$)'!(%$!%&>!%5+<!.&!)/F+<=I!,+!7!v!
,+!<$)1''%&<+!%&&.+00+>!<+-+!C+'.$+!B?&?$+$%1*!
'.$! 0%! (?$1),+! "6763"686>! .&+! $+'').$<+!
'.((0?C+&*%1$+!<.C.0?+!,+!7"!C1001%$,'!,A+.$)'E!!
;+$*%1&'! <)&*$1/.*+.$'! ,+! 0A?*.,+! <)&*+'*+&*!
*).*+I)1'!0A)(()$*.&1*?!,+!<+-+!C+'.$+!+&!$%1')&!
,+!0+.$!%(($?<1%=)&!@!.&!&15+%.!($)<G+!,+!37!,+!
0A?0%'=<1*?!%.!($1D!,+'!5)L%B+.$'!#ahE
:A%<=51*?!,+! I$+*! [W;d! 'A+'*! $+,$+''?+!+&!"677>!
C%1'! $+'*+! ,%&'! 0+! $).B+! %5+<! .&+! C%$B+!
)(?$%=)&&+00+! &?B%=5+! ,+! 866!cw>! @! 0%2.+00+!
'A%F).*+&*!+&51$)&!"66!cw!,+!<G%$B+'!C%$B1&%0+'!
,A1&I$%'*$.<*.$+! &)&! <).5+$*+'! (%$! 0+'! (?%B+'E!
_&+!GL()*GO'+!,+!,?<$)1''%&<+!,+!<+-+!%<=51*?!
i$?,.1*+!%.D!'+.0'!*$%1&'!<)C(0+*'!$+&*%/0+'!,%&'!
0+'!8!%&'!@!5+&1$>!(%$!+D+C(0+j>!<)&,.1$%1*>!'.$!0%!
(?$1),+!"6763"686>!@!$?,.1$+!0%!<G%$B+!(./012.+!
,A+&51$)&!8!C1001%$,'!,A+.$)'E
NNN'-#i($ -$$(M(# $
:+'! 1&5+'=''+C+&*'! ,A1&I$%'*$.<*.$+! I+$$)51%1$+!
iG)$'! $?B?&?$%=)&j! <)C($+&&+&*! \! ,A.&+! (%$*>!
0+'! 01B&+'! &).5+00+'! ,?<1,?+'! (%$! 0+! a$+&+00+! {!
+*! ,A%.*$+! (%$*! 0+'! %<=)&'! ,+! C),+$&1'%=)&!
,.! $?'+%.!+D1'*%&*! \! '1B&%01'%=)&!]#c[>!()'*+'!
,A%1B.100%B+! +*! B+'=)&! <+&*$%01'?+>! <%(%<1*?! %.D!
&k.,'! I+$$)51%1$+'>! 1&I)$C%=)&! 5)L%B+.$'! +*!
<G%$B+.$'r!
!8Z!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
:+! C)&*%&*! ,+'! 1&5+'=''+C+&*'! $?%01'?'! +&!
"676!%!C)/101'?!+&51$)&!">7!C1001%$,'!,A+.$)'!,+!
'./5+&=)&'!,+!0A9*%*!+*!,+'!<)00+<=51*?'!0)<%0+'>!
%.D2.+00+'!'A%F).*+&*!,+'!+C($.&*'!B%B?'!'.$!0+'!
$+<+-+'!I.*.$+'!,+'!(?%B+'>!&+-+'!,+!,?(+&'+'!
,A+D(0)1*%=)&! i2.1! 5%$1+&*! ,+! 6! v! @! "H! v! %.!
C%D1C.C! ().$! 0+'! :ah! 0+'! (0.'! $+&*%/0+'! &)&!
+&<)$+!+&B%B?+'jE!
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
;A+'*! 0%! C1'+! +&! k.5$+! ,.! [W`#>! @! '%5)1$! i;IE!
($)F+*!,+![W`#!)<*)/$+!"677j
x!!U?5+0)((+C+&*! ,+! 76H! C1001%$,'! ,A+.$)'!
,A1&I$%'*$.<*.$+'! &).5+00+'! i:ah! +*! %.*$+'j!
'.$!Z6!%&'>!(%$!+D+C(0+>!$+($?'+&*%&*!($O'!,+!
766!C1001%$,'! ,A%$B+&*! (./01<! @! 1&F+<*+$! i').'!
I)$C+!,+!'./5+&=)&>!,A+C($.&*!).!,+!0)<%=)&!
,1M?$?+! ,+! *L(+! YYYjE! [)1*! .&+! ,?(+&'+!
(./012.+!%&&.+00+'!766! !Z6!%&'!�!">H!C1001%$,'!
(%$!%&!i9#4#!}!;:jE!
;+'!01B&+'!&).5+00+'!5)&*!B?&?$+$!.&!'.$<$)1*!,+!
<G%$B+'!,A+&*$+=+&!+*!,A+D(0)1*%=)&!+'=C?!(%$!
0+![W`#!@!"!C1001%$,'!,A+.$)'!+&!K&!,+!(?$1),+>!<+!
2.1! <)$$+'()&,! .&+! ,?(+&'+! '.((0?C+&*%1$+!
,A+&51$)&!n6!C1001)&'!,A+.$)'!'.((0?C+&*%1$+'!
<G%2.+! %&&?+! @! (%$=$! ,+! "67H>! ')1*! +&51$)&!
6>8!C1001%$,!(%$!%&!+&!C)L+&&+!'.$!0%!(?$1),+!
"676!3!"686E
x!!c),+$&1'%=)&! ,+! 0A1&I$%'*$.<*.$+! i%.3,+0@!
,+! 0%! $?B?&?$%=)&j! \! 7H! C1001%$,'! ,A+.$)'! @!
0%! <G%$B+! ,+'! /.,B+*'! (./01<'! i2.1! (+.5+&*!
&?%&C)1&'! B?&?$+$!,+'! B%1&'!,+!($),.<=51*?!
&)&!&?B01B+%/0+'jE![)1*!.&+!,?(+&'+!(./012.+!
%&&.+00+!,+!7H!C1001%$,'! !"H!%&'!�!6>n!C1001%$,!
(%$!%&!i9#4#jE
U%&'!<+'!(+$'(+<=5+'>!0+!/+')1&!,+!K&%&<+C+&*!
(./01<! %&&.+0! '.((0?C+&*%1$+! i%.3,+0@! ,+'!
">7!C1001%$,'!C)/101'?'!+&!"676j!'A?0O5+$%1*!@!\!
">H!}!6>8!}!6>n!u!">7!�!7>8!C1001%$,!,A+.$)'!(%$!
%&>! ')1*! "n! C1001%$,'! ,A+.$)'! <.C.0?'! '.$! 0%!
(?$1),+!"676!u!"686E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
`0! I%.,$%1*! ,1M?$+$! *).'! 0+'! 1&5+'=''+C+&*'! ,+!
,?5+0)((+C+&*!,.!$?'+%.!I+$$?!&%=)&%0!2.1!&+!
')&*! (%'! ,?F@! +&B%B?'! I%q)&! 1$$?5+$'1/0+! i<+.D3
<1! <)C($+&&+&*>! ().$! .&! C)&*%&*! ,+! 0A)$,$+!
,+! 7n! C1001%$,'! ,A+.$)'! \! 0%! :ah! 9'*>! (G%'+! "!
().$!">H!aw!{![94!#).$'3V)$,+%.D!().$!o>l!aw>!
,)&*! Z!aw!,+! I)&,'! (./01<'! {! V$+*%B&+3Y%L'! ,+!
:)1$+!().$!8>Z!aw! {!W|C+'3c)&*(+001+$!7>l!awjE!
[.$! 0%!(?$1),+!"6763"686>! 0%!,?(+&'+!(./012.+!
%&&.+00+! <)$$+'()&,%&*! @! <+'! R! <).('! (%$='! S!
'A?0O5+$%1*!@!6>H!C1001%$,!,A+.$)!(%$!%&!i%.!01+.!,+!
">H!C1001%$,'!(%$!%&!,%&'!0+!'<?&%$1)!7jE
Y%$! <)&*$+>! 0+'! ,?(+&'+'! ,+! C),+$&1'%=)&!
'+$%1+&*! C%1&*+&.+'! %.! $L*GC+! ($?5.! (%$! 0+!
[W`#>! i')1*! 6>n! C1001%$,! ,A+.$)'! (%$! %&j>! 5)1$+!
0?BO$+C+&*!'.(?$1+.$!i6>l!C1001%$,!(%$!%&j!().$!
I%1$+!I%<+!%.D!/+')1&'!,+!<%(%<1*?!+*!,+!C+100+.$+!
<)&&+D1)&!+&*$+!0+'!01B&+'E
4.!*)*%0>!(%$!$%(()$*!@!.&+!'./5+&=)&!(./012.+!
,A1&5+'=''+C+&*! I+$$)51%1$+! ,+! ">7! C1001%$,'!
,A+.$)'!+&!"676>!0+!/+')1&!%&&.+0!,+!'./5+&=)&!
(./012.+!&+!'+$%1*!2.+!,+!6>H!}!6>l!�!7>8!C1001%$,!
,A+.$)'>! <+! 2.1>! '.$! 0%! (?$1),+! "6763"686>!
B?&?$+$%1*!.&+!?<)&)C1+!/.,B?*%1$+!%&&.+00+!,+!
">7!u!7>8!�!6>l!C1001%$,>!')1*!7n!C1001%$,'!,A+.$)'!
<.C.0?'!'.$!"6!%&'E
`0!I%.,$%1*!&?%&C)1&'!@!%F).*+$>!+&!($)51'1)&!().$!
,?(+&'+'!(./012.+'>!0+'!$1'2.+'!K&%&<1+$'!01?'!%.D!
+C($.&*'! i<$)1''%&<+! ,%&'! *%.D! ,A1&*?$Q*! ().$!
$+K&%&<+$! 0%!,+-+j!+*! 0+'! $1'2.+'!<)CC+$<1%.D!
01?'!%.D!'+<=)&'!<)&<?,?+'>!$+'*%&*!@! 0%!<G%$B+!
,.!<)&<?,%&*!iY+$(1B&%&3!d1B.+$%'>!().$!0+'!9*%*'!
d$%&q%1'!+*!9'(%B&)0>!#).$'3V)$,+%.D!().$!]ddj>!
'%&'!<)C(*+$! 0+'! $1'2.+'! $?'1,.+0'!,+'!<)&*$%*'!
,+!(%$*+&%$1%*'!().$!0+!C%|*$+!,A).5$%B+!(./01<E
!8H!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
e-6K('F'G' !"#$%&! 'e(!!&i-"-!('#" -&#",'G'!d6"%- *," -e
OOO'$7>:93?<'D'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD[' 39:0;<3='W/3':9X<:98ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*
!#$()"/+0+(+/.Q$("#&"/+*!.&
#$()"%-./0!"#!",."#!R!
">8
Z>P
[*%/0+!'.$!0%!(?$1),+
J%)&!,,!'!()"($("%$&D!/)!>
3,"'.(?&!"Z>P"ckl.(
J&"</$/.)."#!",."#!R!""
*&<<,+'!().2/!"XPZPIXPUP
A+N%2)"*&<<,9"m"XP"ck
&'&,"#=2()+/E)*"G"_"Y"m"["ck
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* ">7 ;$)1''%&<+!\!}!7>8!aw %& U?K<1*!'.((0E!}!"n!aw
& ", <=98'4>A7?='05;;8_'`'qq'La'
OOO'$7>:93?<'B'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD[' 39:0;<3='W/3':9X<:98ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*!
#$()"/+0+(+/.Q$("#&"/+*!.&
">8 Y$),.<=51*?!}!7!v!(%$!%&
J%)&!,,!'!()"($("%$&D!/)!>
3,"'.(?&!"Z>P"ckl.(
400OB+C+&*!,?K<1*!\!3!p>6!aw
A+N%2)"*&<<,9"m"XP"ck
]+<+-+'!5)L%B+.$'!B$%&,+'!01B&+'!}7!v!(%$!%&!?2.15%0+&*+!@!
,1C1&.=)&!,+'!<G%$B+'!!400OB+C+&*!,?K<1*!\!3!7">6!aw
U1C1&.=)&!%<=51*?!I$+* :1C1*?+!%.D!*$%1&'!<)C(0+*' 400OB+C+&*!,?K<1*!\!3!8>6!aw
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* ">7 7>8!aw! %&!%.!01+.!,+!8>Z 400OB+C+&*!,?K<1*!\!3!7n>6!aw
& ", <=98'988/E_'4>A7?='u''G'BC'La
!8n!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'%d!-Mn !(
#$%&'()$*'!,+!5)L%B+.$'!$?B1)&%.D!iI+$$)51%1$+'!
+*! $).=+$'j! +*! ,?(%$*+C+&*%.D! i%.*)<%$'! +*!
*$%&'()$*'!@!0%!,+C%&,+jE!
OOO',/0'=39:0;<3=0'3>E?<:95Q'4/'@<s9E/530'OOO
`0'!$+<).5$+&*!*$)1'!*L(+'!,+!*$%K<>!($?'+&*%&*!,+'!
($)/0?C%=2.+'! ,1M?$+&*+'! \! 0+'! ,?(0%<+C+&*'!
,%&'! 0+'! /%''1&'! ,+!C)/101*?! ,+'! B$%&,+'! %1$+'!
.$/%1&+'>!2.1!$+($?'+&*+&*!8o!v!,+'!*$%F+*'!#9]!{!
0+'! 01%1')&'!$%(1,+'!+&*$+! 0+'!5100+'! 1C()$*%&*+'>!
2.1!!<)C(0O*+&*!0+'!'+$51<+'!&%=)&%.D!@!0)&B.+!
,1'*%&<+>!+*!$+($?'+&*+&*!"p!v!,+'!*$%F+*'!#9]!{!
0+'! ,+''+$*+'! ,+'! *+$$1*)1$+'! $.$%.D>! @! I%1/0+!
,+&'1*?>!2.1! $+($?'+&*+&*!8Z!v!,+'!*$%F+*'!#9]E!!
9&*$+!7ppp!+*!"66p>!0+'!*$%K<'!#9]!'+!')&*!%<<$.'!
,+!n6!v>!'+0)&!0+'!<)C(*+'!*$%&'()$*E
[+0)&! 0+! $%(()$*! ,+! 0%! ;).$'! ,+'! ;)C(*+'! ! ,+!
"676>! 0+! <)z*! <)C(0+*! ,+'! #9]! ?*%1*! +'=C?>!
+&! ,)&&?+'! "66H! @! Z>7! C1001%$,'! ,A+.$)'! '+!
$?(%$=''%&*! +&! *$)1'! /0)<'! ,+! <G%$B+'! \! 0+'!
'+$51<+'!I).$&1'!(%$!0%![W;d!().$!">!7"H!aw>!G)$'!
(?%B+'!{!0A1&I$%'*$.<*.$+!%5+<!.&!<)z*!<)C(0+*!,+!
7>8H!aw>! 0+'!(?%B+'!5+$'?'!,+!6>ZH!cw! 0%1''%&*!
@!]dd!.&!,?K<1*!,+!lol!cw!{!0+!C%*?$1+0!$).0%&*!
%5+<! 6>n8! awE! ;+! <)z*! <)C(0+*! '+$%1*! ($)<G+!
H!C1001%$,'!,A+.$)'!+&!"66pE
:+!($1D!(%L?!(%$!0+'!.'%B+$' <01+&*'>!i6>o!C1001%$,!
,A+.$)'! +&! "66Hj>! $+($?'+&*%1*! 7o! v! ,.! <)z*!
<)C(0+*E! `0! +'*! +'=C?!@!7>8!C1001%$,!,A+.$)'!+&!
"676!i%''1'+'!,.!I+$$)51%1$+jE!;)C(*+!*+&.!,+!0%!
I%1/0+!$+5%0)$1'%=)&!,+'!*%$1I'>! 0+!C)&*%&*!,+!0%!
'./5+&=)&! (./012.+! %.$%1*! %.BC+&*?! ,+! o6!v!
+&*$+!"66Z!+*!"66p!i(%''%&*!,+!"!@!8>Z!C1001%$,'!
,A+.$)'j>! ')1*! .&+! <$)1''%&<+! ,+! 0A)$,$+! ,+! p!v!
(%$!%&>!G)$'!1&J%=)&E
OOO',/0'=39:0;<3=0'4>;93=/1/:=95Q'4/'@<s9E/530'OOO
:A)M$+! ,+! *$%&'()$*'! <)00+<=I'! )$B%&1'?+! (%$!
0+'! ,?(%$*+C+&*'! '+! ,?<)C()'+! +&! (0.'1+.$'!
'+BC+&*'! \! 0+'! *$%&'()$*'! '<)0%1$+'>! 2.1!
$+($?'+&*+&*!0A+''+&=+0!,+!0A%<=51*?!().$!0A%<<O'!
%.D! ?*%/01''+C+&*'! '<)0%1$+'! +&! ,+G)$'! ,+'!
(?$1CO*$+'! ,+! *$%&'()$*! .$/%1&! {! 0+'! ,+''+$*+'!
,A%.*)<%$'! +&! C101+.! $.$%0! $?%01'?+'! (%$! ,+'!
%.*)<%$'! ,?(%$*+C+&*%.D! i+*! <+$*%1&'! '+$51<+'!
@! 0%!,+C%&,+j>!2.1!$+01+&*! 0+'!/).$B'!+*!(+=*+'!
5100+'>!%5+<!,+'!I$?2.+&<+'!I%1/0+'E!:+!*$%K<!,+'!
*$%&'()$*'! '<)0%1$+'! $+'*+! '*%/0+>! %.*).$! ,+!
Z>H!C1001%$,'!,+!5)L%B+.$'!~10)CO*$+'E!;+0.1!,+'!
%.*$+'!5)L%B+.$'!&+! $+($?'+&*+$%1*!2.+!"6!v!@!
"H!v>!')1*!7!C1001%$,!,+!5)L%B+.$'!D!~10)CO*$+'!{!10!
,+5$%1*!Q*$+!I)$*+C+&*!<$)1''%&*!().$!0+'!'+$51<+'!
,+!$%/%-+C+&*'!,+'!N)&+'!(?$1.$/%1&+'!5+$'!0+'!
B$%&,+'!%BB0)C?$%=)&'>!+*!(0.*P*!'*%/0+!%100+.$'E
;+'! %.*)<%$'! C)/101'+&*! +&! "66p! .&+!
$+'').$<+! (./012.+! ,+! 8>8! C1001%$,'! ,A+.$)'!
,+! I)&<=)&&+C+&*! i,)&*! "! C1001%$,'! ().$! 0+!
*$%&'()$*!'<)0%1$+j!@!0%2.+00+!'A%F).*+!6>8!C1001%$,!
,A1&5+'=''+C+&*'E! ;+'! ,?(+&'+'! (./012.+'! '+!
')&*!%<<$.+'!,A+&51$)&!Z6!v!+&*$+!"66Z!+*!"66p!
i(%''%&*!,+!">8!@!8>Z!C1001%$,'!,A+.$)'j>!')1*!.&+!
<$)1''%&<+!'.(?$1+.$+!@!H!v!(%$!%&>!G)$'!1&J%=)&E
:+'! %.*+.$'! &A)&*! (%'! *$).5?! ,+! ($?<1'1)&'! i+&!
)$,$+! ,+! B$%&,+.$j! '.$! 0%! ,?<)C()'1=)&! ,+'!
?2.101/$+'!$+<+-+' <)z*'!<)C(0+*'!(%$!C),+'!,+!
*$%&'()$*!i*$%1&!).!%.*)<%$'j!+&*$+!0+'!,+''+$*+'!
(?$1.$/%1&+'!+*!0+'!%.*$+'!,+''+$*+'!,+!5)L%B+.$'!
iG)$'!*$%&'()$*'!'<)0%1$+'jE!
NNN'e -&##(M(#
[+0)&!0+'!;)C(*+'!,+'!*$%&'()$*'>! 0+'!,?(+&'+'!
(./012.+'! ,+! I)&<=)&&+C+&*! ,+'! '+$51<+'!
,?(%$*+C+&*%.D! +*! $?B1)&%.D! ,+! *$%&'()$*!
'A?0O5+$%1+&*! @! (0.'! ,+! n! C1001%$,'! ,A+.$)'! +&!
"66p>!%5+<!.&!*$+&,!,+!<$)1''%&<+!,+!0A)$,$+!,+!
8!v!@!o!v>!G)$'!1&J%=)&E
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
b&! <)&'1,?$+$%! 2.+! ,%&'! 0+'! %&&?+'! @! 5+&1$>!
0%! ,?(+&'+! (./012.+! ,+! I)&<=)&&+C+&*! ,+'!
*$%&'()$*'!(./01<'!$?B1)&%.D!+*!,?(%$*+C+&*%.D!
'A%<<$)1*$%! %.! $L*GC+! ,+! "! v! (%$! %&! +&! +.$)'!
<)&'*%&*'>! '.$! 0%! (?$1),+! "6763"686E! 9&!
0A%/'+&<+!,+!$+5%0)$1'%=)&!,+!0%!*%$1K<%=)&!iG)$'!
1&J%=)&j>! <+-+! ,?(+&'+! <$)1''%&*+! '+! *$%,.1$%!
e-6K('H'G' !"#$%&! $'6&,,(6 -e$'!dL-&#"*g'( ')d%"! (M(# "*g
!8o!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
(%$! .&! +&,+-+C+&*! (./01<! '.((0?C+&*%1$+! ,+!
0A)$,$+!,+!"Z!C1001%$,'!,A+.$)'E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
"7X<:'053'8/0'4>;/:0/0
[).'! 0A+M+*! ,+'! <)&*$%1&*+'! /.,B?*%1$+'>! ,+'!
+M)$*'!'.((0?C+&*%1$+'!,A+y<%<1*?!,+!0%!B+'=)&!
,+'! $?'+%.D! $?B1)&%.D! ,?(%$*+C+&*%.D! ,+!
*$%&'()$*!(./01<'8!,+5$%1+&*!Q*$+!C1'!+&!k.5$+!
%.!<).$'!,+'!($)<G%1&+'!i@!.&!$L*GC+!<)C(%=/0+!
%5+<! 0+! $+&).5+00+C+&*! ,+'! (+$')&&+0'j>! +&!
%B1''%&*!@!0%!I)1'!'.$!\
x!!:%! ,?K&1=)&! ,+'! '+$51<+'! (%$! 0+'! %.*)$1*?'!
)$B%&1'%*$1<+'>! ().$! 0%2.+00+! .&+!(0.'! B$%&,+!
+y<%<1*?! (+.*! Q*$+! )/*+&.+>! &)*%CC+&*!
(%$!,+'! *$%&'I+$*'!,+! '+$51<+'! I+$$)51%1$+'! '.$!
%.*)<%$'Z>!
x!!:+'!B%1&'!,+!($),.<=51*?!01?'!@!0A)$B%&1'%=)&!,+!
0A+D(0)1*%=)&!,+'!'+$51<+'>
x!!:A).5+$*.$+!@!0%!<)&<.$$+&<+!,%&'!0%!,?5)0.=)&!
,+'!'+$51<+'E
:+! ]%(()$*! ,.! ;+&*$+! ,A4&%0L'+! '*$%*?B12.+!
'.$! 0A).5+$*.$+! @! 0%! <)&<.$$+&<+! ,.! *$%&'()$*!
I+$$)51%1$+! ,+! 5)L%B+.$'! %! ?5%0.?! @! "n! v! ,A1<1!
"686! 0%! $?,.<=)&! ()''1/0+! ,+'! ,?(+&'+'>! 0+'!
*$)1'!2.%$*'!,+5%&*!5+&1$!,+! 0A%<<$)1''+C+&*!,+!
0%!($),.<=51*?E
:A+&'+C/0+! ,+! <+'! C+'.$+'! ,+5$%1*! (+$C+-$+!
,A%-+1&,$+!.&!)/F+<=I!,+!$?,.<=)&!,.!<)z*!,.!
*$%&'()$*! ,+! "! v! (%$! %&! '.$! 0%! (?$1),+! "6763
"686>! <)$$+'()&,%&*! @! .&+! '*%/101'%=)&! ,+! 0%!
,?(+&'+!(./012.+E
"7X<:'053'8/0'3/7/c/0
[+$%1*! ($?<)&1'?+! .&+! $+5%0)$1'%=)&! ,+! 0%!
(%$=<1(%=)&! ,+'! .'%B+$'! @! 0%! <).5+$*.$+! ,+'!
<)z*'! ,A+D(0)1*%=)&>! <A+'*3@3,1$+! 0%! <$)1''%&<+!
,+'! *%$1I'! ,+! *$%&'()$*'! (./01<'! $?B1)&%.D! +*!
,?(%$*+C+&*%.D! '.(?$1+.$+! @! 0A1&J%=)&! i}"! v!
(%$! %&! +&! +.$)'! <)&'*%&*'>! (%$! +D+C(0+jE!
_&+! *+00+! C+'.$+! ,+5$%1*! %00+$! ,+! (%1$! %5+<!
.&+! %,%(*%=)&! ,+'! *%$1I'! ')<1%.D! +*! .&! +M)$*!
<)CC+$<1%0! ').*+&.! ().$! %�$+$! .&+! <01+&*O0+!
'.((0?C+&*%1$+E
4((012.?+!@!.&+!$+<+-+!<)CC+$<1%0+!,+!0A)$,$+!
,+!7>H!C1001%$,!,A+.$)'!(%$!%&>!<+-+!$+5%0)$1'%=)&!
+&*$%1&+$%1*!.&+!?<)&)C1+!<.C.0?+!,+!n!C1001%$,'!
,A+.$)'!+&!"686E
NNN'-#i($ -$$(M(# $
4($O'!.&!$L*GC+!*$O'!').*+&.!,+'=&?!@!$+&).5+0+$!
0+! C%*?$1+0! #9]>! 0+'! ,?(+&'+'! ,A1&5+'=''+C+&*!
,+'! $?B1)&'!,+5$%1+&*! '+! '*%/101'+$! @! 0+.$!&15+%.!
%<*.+0>! <)C(%=/0+!%5+<! 0+!,?5+0)((+C+&*!,+! 0%!
<01+&*O0+!(?$1.$/%1&+!2.1!'A+M+<*.+!($1&<1(%0+C+&*!
@!1&I$%'*$.<*.$+!<)&'*%&*+>!(%$!0A%<<$)1''+C+&*!,+!
0%!<%(%<1*?!,+'!$%C+'!#9]E
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
:%! ().$'.1*+! ,%&'! 0+'! %&&?+'! @! 5+&1$! ,+'!
*+&,%&<+'! )/'+$5?+'! ,%&'! 0+! (%''?! <)&,.1*! @!
.&+!GL()*GO'+!,+!$+0%=5+!'*%/101*?!,+'!,?(+&'+'!
(./012.+'! ,A1&5+'=''+C+&*'! ,+! ! *$%&'()$*!
<)00+<=I! ().$! 0+'! $?B1)&'! <)CC+! ().$! 0+'!
,?(%$*+C+&*'E!
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
b&! ().$$%1*! KD+$>! ,%&'! .&+! '1*.%=)&! ,+! I)$*+!
<)&*$%1&*+!/.,B?*%1$+>!.&!)/F+<=I!,+!,1C1&.=)&!
,+!7!v!(%$!%&!,+'!,?(+&'+'!,A1&5+'=''+C+&*'E!
4((012.?+! @! .&+! ,?(+&'+! %&&.+00+! ,A+&51$)&!
7! C1001%$,>! <+-+! C+'.$+! <)&,.1$%1*>! @! .&+!
?<)&)C1+! /.,B?*%1$+! <.C.0?+! '.$! 0%! (?$1),+!
"6763"686!+'=C?+!@!"!C1001%$,'!,A+.$)'E
U"A.(*"&("./Q%,!"<&1,2+"#.(*",."/!D&!"e/.(*<$/)";d&2,,!)IJ$p)"XPZZC"*$&*",!"Q)/!"@"e/.(*<$/)":!//$D2.2/!"!("6/.(%!"7"e!'<E)!"$/0.(2*.Q$((!,,!"B>",!*"
.&)!&/*";qD!*" /$r!)"!)"d!.(I ,.&#!"`.$&,C"!*Q'!()"?&!",!"%$p)"#!"</$#&%Q$("#&"*!/D2%!":!//$D2.2/!"<./",."54 6"*!/.2)"#!"UP"Y"*&<+/2!&/"G"%!,&2"#!"*!*"
%$(%&//!()*9"5!,$("&(!"+)&#!"#!"g.&/!()"c&2-+/i";g^e"I"XPZZC>",!"%$p)"'$i!("#&")/.2(Is2,$'M)/!"!("J,,!'.0(!"!*)"#!"[>n"G"ZP"!&/$*"%$()/!"!(D2/$("Z["
!&/$*"!("6/.(%!"t",."#2j+/!(%!"D2!(#/.2)").()"#!*"%$p)*"#=!h<,$2).Q$("#!*")/.2(*";'.)+/2!,>"<!/*$((!,C"?&!"#!",."0!*Q$("#!",=2(:/.*)/&%)&/!";0./!"!)"*2,,$(C9"
g!*"#2j+/!(%!*"#!"%$p)"*.,./2.,"*$()"!(":.D!&/"#!",=J,,!'.0(!>"($("<.*"G"%.&*!"#!*"*.,.2/!*>"'.2*"#&":.2)"#=&(!"$/0.(2*.Q$("/.#2%.,!'!()"#2j+/!()!"7"&("
%$(#&%)!&/".,,!'.(#"<!&)"E)/!"!("<$*)!"F&*?&=G"\"-!&/!*"<./"F$&/"%$()/!"U-Zn"!("6/.(%!9"
_"g!*".&)$%./*"'$#!/(!*"+'!R!()"'$2(*"#!" uX"<./"D$i.0!&/"h"s'"?&=&("e^`"'.,"/!'<,2
!8l!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
e-6K('H'G' !"#$%&! $'!dL-&#"*g'( ')d%"! (M(# "*g!d6"%- *," -e
OOO'$7>:93?<'D'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD[' 39:0;<3=0'7<88/7XW0''3>E?<:0'/='4>;93=/1/:=0
ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&* n>6 ;$)1''%&<+!}!"!v!(%$!%& U?K<1*!'.((0?C+&*%1$+!}!"Z!aw
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* 7>6 [*%/0+!'.$!0%!(?$1),+ Y%'!,+!,?K<1*!'.((0?C+&*%1$+
& ", <=98'4>A7?='05;;8_'`'BH'La
OOO'$7>:93?<'B'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD[' 39:0;<3=0'7<88/7XW0''3>E?<:0'/='4>;93=/1/:=0
ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&* n>6[*%/101*?!/.,B?*%1$+!i3"!v!!
(%$!$%(()$*!%.!*+&,%&<1+0jY%'!,+!,?K<1*!'.((0?C+&*%1$+
]+<+-+'!5)L%B+.$' 7>H #%$1I'!}"!v!(%$!%& 400OB+C+&*!,?K<1*!\!3!n>6!aw
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* 7>6 U1C1&.=)&!,+!7!v!(%$!%& 400OB+C+&*!,?K<1*!\!3!">6!aw
& ", <=98'988/E_'4>A7?=''G'\'La
!8p!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'%d!-Mn !('
h)1+'!&%51B%/0+'!,+!d$%&<+E!
:+!(%*$1C)1&+!B?$?!(%$!hWd!<)C($+&,!no66!~C!
,+! 5)1+'! &%51B%/0+'! i,)&*! 8l66! ~C! ,+! <%&%.D!
+*! "p66! ~C!,+!J+.5+'jE!U%&'! <+*! +&'+C/0+>! 0+!
$?'+%.!,1*!R!C%B1'*$%0!S!<)C($+&,!Z666!~C!,)&*!
7l66!~C!@!B$%&,!B%/%$1*E
NNN'e -&##(M(#
[+0)&!0+'!;)C(*+'!,+'!*$%&'()$*'>! 0+'!,?(+&'+'!
(./012.+'! ,+! I)&<=)&&+C+&*! ,+'! 5)1+'!
&%51B%/0+'! 'A?0+5%1+&*! +&!"676!@!.&!(+.!C)1&'!
,+!6>Z!C1001%$,!,A+.$)'>!+&! 0?BO$+!<$)1''%&<+!%.!
<).$'!,+'!,+$&1O$+'!%&&?+'E
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
:%! *+&,%&<+! %<*.+00+! '+C/0+! Q*$+! 0%! '*%/101*?!
/.,B?*%1$+E! ;+(+&,%&*>! 0A+&B%B+C+&*! ,.!
($)B$%CC+! ,+! $?B?&?$%=)&! ,+! Z! C1001%$,'!
,A+.$)'!($?5.'!(%$! 0+!($)F+*!,+![W`#! 1&,.1*!.&+!
,?(+&'+! (./012.+! '.((0?C+&*%1$+>! ,+! 0A)$,$+!
,+!7n6!C1001)&'!,A+.$)'!(%$!%&>!2.1>!<.C.0?+!'.$!
"6!%&'>!<)&,.1*!@!.&+!,?$15+!,?K<1*%1$+!(./012.+!
,+!0A)$,$+!,+!8>"!C1001%$,'!+&!"686E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
[).'! 0A+M+*! ,+'! <)&*$%1&*+'! /.,B?*%1$+'>! 10!
I%.,$%! +&B%B+$! ,+'! +M)$*'! ,+! ($),.<=51*?!
'.((0?C+&*%1$+'! ().$! 0+! I)&<=)&&+C+&*!
<).$%&*!\!.&!)/F+<=I!,+!7!v! !%&!,+!($),.<=51*?!
(%$!%&!'.$!"6!%&'!i<)C(%=/0+!%5+<!0%!B+'=)&!,+'!
(+$')&&+0'j!<)&,.1$%1*!@!.&!%00OB+C+&*!<.C.0?!
'.$!"6!%&'!,+!0A)$,$+!,+!6>Z!C1001%$,!,A+.$)'E!
:+!($)B$%CC+!,+!$?B?&?$%=)&!'+$%1*!C%1&*+&.!
().$!?51*+$!0%!,?B$%,%=)&!,.!(%*$1C)1&+E
:%!,?$15+!,?K<1*%1$+!'+$%1*!,)&<!,+!">l!C1001%$,'!
,A+.$)'!%.!01+.!,+!8>"!C1001%$,'E
NNN'-#i($ -$$(M(# $
:+'!<)C(*+'!*$%&'()$*!%y<G+&*!+&!%&&?+!"676!
.&+! ,?(+&'+! ,A1&5+'=''+C+&*! ().$! 0+'! 5)1+'!
&%51B%/0+'! ,+! 6>"! C1001%$,! ,A+.$)'>! ,%&'! 0%!
C)L+&&+! ,+'! %&&?+'! ($?<?,+&*+'E! ;+(+&,%&*>!
0+! ($)F+*! ,+! [W`#! ($?5)1*! 0A+&B%B+C+&*! ,%&'!
0+'! "H! ($)<G%1&+'! %&&?+'! ,A.&! ($)B$%CC+!
,+! C),+$&1'%=)&! ,+! ">H! C1001%$,'! ,A+.$)'!
i$+<)&'*$.<=)&! ,+! /%$$%B+'! C%&.+0'>!
'?<.$1'%=)&! ,+'! *.&&+0'>! )(=C1'%=)&! ,+!
0A+D(0)1*%=)&j! +*! ,+! ($)F+*'! ,+! ,?5+0)((+C+&*!
,+! 0A)$,$+! ,+! n! C1001%$,'! ,A+.$)'! i,)&*! [+1&+3
W)$,39.$)(+>!C%1'!G)$'!($)F+*! [%P&+uc)'+00+
[%P&+3]G1&jE
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
9&!0A%/'+&<+!,+!$+'').$<+'!&).5+00+'!(%L?+'!(%$!
0+'! .'%B+$'! i2.1! ,+5$%1+&*! %.!C1+.D! <)&*$1/.+$!
%.D! ,?(+&'+'! '.((0?C+&*%1$+'! ,A+D(0)1*%=)&!
<).$%&*+j>! <+! ($)B$%CC+! ,A1&5+'=''+C+&*'!
J.51%.D! ,.! [W`#! <)&,.1$%1*! @! .&+! ,?$15+!
,?K<1*%1$+! ,+! 0A)$,$+! ,+! n>l!C1001%$,'! ,A+.$)'! @!
0AG)$1N)&!"686E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
`0!I%.,$%1*!,1M?$+$!0A+''+&=+0!,+'!1&5+'=''+C+&*'!
,+! ,?5+0)((+C+&*! ,.! $?'+%.!J.51%0! +*! $?,.1$+!
I)$*+C+&*! 0+! ($)B$%CC+! ,+! C),+$&1'%=)&!
,.! [W`#! i@! 7>H! C1001%$,! ,A+.$)'! %.! 01+.! ,+!
">H!C1001%$,'jE
:%!,?$15+!,?K<1*%1$+!@!0AG)$1N)&!"686!'+$%1*!01C1*?+!
@!">"!C1001%$,'!,A+.$)!%.!01+.!,+!n>l!C1001%$,'E
e-6K('q'G'!d$("*'e,*i-",
!Z6!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
e-6K('q'G'!d$("*'e,*i-",'k'!d6"%- *," -e
OOO'$7>:93?<'D'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD['!>0/95'o5@?98ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*! 6>Z ]?B?&?$%=)&!}!7n6!cw %& U?K<1*!'.((0E!}!8>"!aw
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* 6>" Y$)B$%CC+
!Z7!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'%d!-Mn !(
Y)$*'!%.*)&)C+'!,+!0A9*%*!+*!*$%&'()$*!C%$1=C+E
NNN'e -&##(M(#
[+0)&!0+'!;)C(*+'!,+'!*$%&'()$*'>! 0+'!,?(+&'+'!
,+! I)&<=)&&+C+&*! ,+! 0A9*%*! ().$! 0+'! ()$*'! +*!
0+! *$%&'()$*! C%$1=C+! 'A?0+5%1+&*! +&! "676! @!
6>Z!C1001%$,! ,A+.$)'>! +&! 0?BO$+! ,?<$)1''%&<+! %.!
<).$'!,+'!,+$&1O$+'!%&&?+'E
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
:%! *+&,%&<+! %<*.+00+! '+C/0+! Q*$+! 0%! '*%/101*?!
/.,B?*%1$+E!
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
[).'! 0A+M+*! ,+'! <)&*$%1&*+'! /.,B?*%1$+'>! 10!
I%.,$%! +&B%B+$! ,+'! +M)$*'! ,+! ($),.<=51*?!
'.((0?C+&*%1$+'!().$!0+!I)&<=)&&+C+&*!<).$%&*!\!
.&!)/F+<=I!,+!7!v! !%&!,+!($),.<=51*?!(%$!%&!'.$!
"6! %&'! <)&,.1$%1*! @! .&! %00OB+C+&*! <.C.0?! '.$!
"6!%&'!,+!0A)$,$+!,+!6>Z!C1001%$,!,A+.$)'E!
NNN'-#i($ -$$(M(# $
:+'! <)C(*+'! *$%&'()$*! %y<G+&*! ,+(.1'! <1&2!
%&'! .&+! ,?(+&'+! (./012.+! ,A1&5+'=''+C+&*!
%''+N!J.<*.%&*+!%.*).$!,+!786!C1001)&'!,A+.$)'
%&E! ;+(+&,%&*>! 0+! ($)F+*! ,+! [W`#! ($?5)1*!
0A+&B%B+C+&*! ,%&'! 0+'! "H! ($)<G%1&+'! %&&?+'!
,A.&!($)B$%CC+!,A1&5+'=''+C+&*!,+!0A)$,$+!,+!
H!C1001%$,'!,A+.$)'>!,)&*!7>o!,+!C),+$&1'%=)&!+*!
8>"!,+!,?5+0)((+C+&*!i*+$C1&%.D!@!<)&*+&+.$'>>!
%<<O'!C%$1=C+'>!(0%*+'!I)$C+'!*+$C1&%0+'rjE
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
:%! C1'+! +&! k.5$+! ,+! <+! ($)B$%CC+! ,.! [W`#!!
<)&,.1$%1*!@!.&+!,?$15+!,?K<1*%1$+!,+!0A)$,$+!,+!
Z!C1001%$,'!,A+.$)'!@!0AG)$1N)&!"686E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
;)C(*+!*+&.!,+'!($)F+*'!+&B%B?'>!0+!($)B$%CC+!
,.![W`#!&+!().$$%1*!Q*$+!2.+!(%$=+00+C+&*!$?,.1*>!
@! 8>"! C1001%$,'! ,A+.$)'! %.! 01+.! ,+! Z! C1001%$,'! @!
0AG)$1N)&!"686E
e-6K('p'G'%&! $'( ' !"#$%&! 'M"!- -M(
e-6K('p'G'%&! $'( ' !"#$%&! 'M"!- -M('k'!d6"%- *," -e
OOO'$7>:93?<'D'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD['%<3=0ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*! 6>Z [*%/101*?! Y%'!,+!,?K<1*!'.((0?C+&*%1$+
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* 6>78 Y$)B$%CC+![W`#! U?K<1*!'.((0E!}!Z!aw
& ", <=98'4>A7?='05;;8_'`'H'La
OOO'$7>:93?<'B'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD['%<3=0ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*! 6>Z U1C1&.=)&!,+!7!v!(%$!%& 400?BE!,?K<1*E!u!6>Z!aw
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* 6>78 Y$)B$%CC+!C1&1C.C U?K<1*!'.((0E!}!8>">!aw
& ", <=98'4>A7?='05;;8_'`'B]\'La
!Z"!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'%d!-Mn !(
]?'+%.D! ,+! *$%&'()$*! (./01<! .$/%1&! i%.*)/.'>!
*$%C�%L'>!C?*$)'j! >! G)$'! #9]! +*! `0+3,+3d$%&<+E!!
:+'!<G1M$+'!<0?'!,.!*$%&'()$*!(./01<!.$/%1&!().$!
"676>! $%''+C/0?'! (%$! ! 0A_&1)&! ,+'! #$%&'()$*'!
Y./01<'! +*! I+$$)51%1$+'! i_#Yj! '.$! 7ZH! $?'+%.D!
%&%0L'?'>! <)&<+$&+&*! "">8! C1001)&'! ,AG%/1*%&*'!
,+''+$51'>! ">8n!C1001)&'! ,+! 5)L%B+'>! .&! +M+<=I!
,+!(0.'!,+!Zl666!(+$')&&+'E
NNN'e -&##(M(#
[+0)&! 0+'! '*%='=2.+'!,+! 0A_#Y>! 0+'!,?(+&'+'!,+!
I)&<=)&&+C+&*!'A?0O5+&*!+&!"676!@!8>Z"!C1001%$,'!
,A+.$)'! ().$! .&+! $+<+-+! <)CC+$<1%0+! ,+!
7>"! C1001%$,>! ')1*! .&+! <).5+$*.$+! ,+! 8H! vE!
:%! './5+&=)&! (./012.+! ,+! I)&<=)&&+C+&*>!
%01C+&*?+! (%$! 0+! 5+$'+C+&*! *$%&'()$*! +*!
,+'! $+'').$<+'! /.,B?*%1$+'! B?&?$%0+'! ,+'!
<)00+<=51*?'! 0)<%0+'>! 'A?0O5+! @! .&! (+.! (0.'! ,+!
">"!C1001%$,'!,A+.$)'E
;+!,?K<1*!(./01<!+'*!+&!%.BC+&*%=)&!$?B.01O$+!\!
,+(.1'! 76! %&'>! '+0)&! 0A_#Y>! 0+'! $+<+-+'! )&*!
($)B$+''?!,+!"Z>Z!v!+*!0+'!,?(+&'+'!,+!Zl>o!v>!
+&! +.$)'! <)&'*%&*'E! :+! ,?K<1*! 'A+'*! %<<$.! ,+!
nn!v!+&! +.$)'! <)&'*%&*'>! ')1*! n>n!v!(%$! %&! +&!
<$)1''%&<+!01&?%1$+E
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
U%&'! 0+'! ($)<G%1&+'! %&&?+'>! 0%! ().$'.1*+! ,+'!
?5)0.=)&'!$?<+&*+'!'+$%1*!<%$%<*?$1'?+!(%$!\
x!!.&!?<%$*!<$)1''%&*!)/'+$5?!'.$!0A+&'+C/0+!,+'!
$?'+%.D>! ,+! 0A)$,$+! ,+! "! v! (%$! %&! +&! +.$)'!
<)&'*%&*'>!+&*$+!0A%.BC+&*%=)&!,+!0%!,?(+&'+!
(%$! 5)L%B+! i}7!v! (%$! %&! ,+(.1'! 76! %&'! +*! 0%!
/%1''+!,+!0%!$+<+-+!(%$!5)L%B+!i37!v!(%$!%&!'.$!
0%!CQC+!(?$1),+jE!
x!!.&+! <$)1''%&<+! ,+! 0%! <01+&*O0+! 01?+! %.D!!
1&5+'=''+C+&*'! 1C()$*%&*'! ,+! *$%&'()$*'!
<)00+<=I'!+&!'1*+!($)($+!i*$%C�%L>!VXW[j!,%&'!
0+'! B$%&,'! $?'+%.D! iY#_! ,+! (0.'! ,+! "H6! 666!
G%/1*%&*'j>!+*!.&!*%.D!,+!<).5+$*.$+!R!]+<+-+'!
<)CC+$<1%0+'! !,?(+&'+'!,+!I)&<=)&&+C+&*!S!
(0.'!?0+5?!i10!+'*!,+!6>Z6!+&!C)L+&&+!!<)&*$+!
6>"H!'.$!0+'!(+=*'!$?'+%.DjE
x!!.&+! <$)1''%&<+! ,+'! $+<+-+'! ,.! h+$'+C+&*!
*$%&'()$*!i@!(?$1CO*$+!+*!*%.D!1&<G%&B?'j>!01?+!
@!0%!<$)1''%&<+!,.!Y`V!i+'=C?+!@!7>8!v!(%$!%&!
+&!+.$)'!<)&'*%&*'!'.$!0%!(?$1),+!"6763"686jE
x!!,+'!?<%$*'!/+%.<).(!(0.'!?0+5?'!+&*$+!0+'!<)z*'!
,+! ($),.<=)&! (%$! 5)L%B+.$! ,%&'! 0+'! (+=*+'!
+*! C)L+&&+'! %BB0)C?$%=)&'! iI)$*+C+&*!
<$)1''%&*'!0)$'2.+!0A)&!5+.*!,+''+$51$!,+'!N)&+'!
@!I%1/0+!,+&'1*?jE
:+! '<?&%$1)! *+&,%&<1+0! <)C/1&+$%1*! .&!
,?5+0)((+C+&*!'./'*%&=+0!,+!0A)M$+!,+!*$%&'()$*!
<)00+<=I! i}7>8! v! (%$! %&j>! .&! %<<$)1''+C+&*!
+&<)$+! (0.'! ?0+5?! ,+'! *$%K<'! i}">H! v! (%$! %&>!
<)&<+&*$?'! ,%&'! 0+'! B$%&,+'! %BB0)C?$%=)&'j>!
.&+! '*%/101*?! ,+'! *%$1I'! i+&! +.$)'! <)&'*%&*'>!
%($O'! .&+! ,?<$)1''%&<+! ,+(.1'! 76! %&'j! +*! .&!
*%.D!,+!<).5+$*.$+!] U!i$+<+-+'!<)CC+$<1%0+'!
! ,?(+&'+'! ,+! I)&<=)&&+C+&*j! 2.1! ,?<$)1*! ,+!
3"!v!(%$!%&E!
;+!2.1!<)&,.1*!@!.&+!%.BC+&*%=)&!,.!,?K<1*!,+!
I)&<=)&&+C+&*!,+!0A)$,$+!,+!">8!v!(%$!%&!i')1*!!
"!v! ,+! ,?$15+! ,.! $%=)! ] U! @! $?'+%.! <)&'*%&*>!
(0.'! 6>8!v! 01?'! @! 0A%.BC+&*%=)&! ,+! 0A)M$+! &)&!
<).5+$*+! (%$! 0+'! $+<+-+'! '.((0?C+&*%1$+'! ,.!
*$%K<jE!;)C(*+!*+&.!,+!0%!<$)1''%&<+!,.!($),.1*!
,.!5+$'+C+&*!*$%&'()$*!i7>8!v!(%$!%&j>!0%!,?$15+!
,?K<1*%1$+!i%.BC+&*%=)&!,+!0%!<G%$B+!(./012.+!
G)$'!h#j>!'+$%1*!,+!0A)$,$+!,+!86!C1001)&'!(%$!%&>!
')1*! n!C1001%$,'! ,A+.$)'! <.C.0?'! '.$! 0%! (?$1),+!
"6763"686E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
Y0.'1+.$'! C+'.$+'! <)C(0?C+&*%1$+'! (+$C+*3
*$%1+&*!,+!$?,.1$+!0A?<%$*!<$)1''%&*!+&*$+!$+<+-+'!
<)CC+$<1%0+'! +*! ,?(+&'+'! ,A+D(0)1*%=)&! ,+'!
*$%&'()$*'!.$/%1&'!\!
x!!:%!$?,.<=)&!,+'!<)z*'!,A+D(0)1*%=)&!,+'!01B&+'!
,+! *$%&'()$*! (./01<'! \! )&! (+.*! *$).5+$! ,+'!
?<)&)C1+'! &)&! &?B01B+%/0+'! +&! $%=)&%01'%&*!
0+'! 01B&+'! i,+'! %.*)/.'! (0.'! $%(1,+'! %5+<! ,+'!
e-6K('I'G' !"#$%&! $'6&,,(6 -e$'*!+"-#$
!Z8!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
$%/%-+C+&*'! .&! (+.! (0.'! 0)&B'>! C%1'!C1+.D!
)$B%&1'?'j>!0+!C%*?$1+0>!0A)$B%&1'%=)&!,.!*$%5%10>!
0+'!I$?2.+&<+'!%.D!G+.$+'!<$+.'+'r!!
x!!_&+! %.BC+&*%=)&! ,+! 0%! (%$=<1(%=)&!
,+'! .'%B+$'! @! 0%! <).5+$*.$+! ,+'! <)z*'!
,A+D(0)1*%=)&>! <A+'*3@3,1$+! .&+! <$)1''%&<+! ,+'!
*%$1I'!,+!*$%&'()$*'!(./01<'!.$/%1&'!'.(?$1+.$+!
@!0A1&J%=)&>!i"!v!(%$!%&!+&!+.$)'!<)&'*%&*'>!(%$!
+D+C(0+jE!_&+!*+00+!C+'.$+!&A+'*!+&51'%B+%/0+!
2.+! '1! +00+! 5%!,+!(%1$! %5+<! 0A%.BC+&*%=)&!,.!
<)z*!,+'!,?(0%<+C+&*'!+&!5)1*.$+!i().$!01C1*+$!
0+!$1'2.+!,+!(+$*+!,+!<01+&*O0+!3!;IE!<13,+'').'j>!
+*!,+'!*%$1I'!')<1%.D!%,%(*?'!+&!<)&'?2.+&<+E!
;+'!C+'.$+'!'+$%1+&*!I%<101*?+'!(%$!,+'!1&<1*%=)&'!
@!.&+!.=01'%=)&!(0.'!I)$*+!,+'!*$%&'()$*'!<)00+<=I'!
2.1!(?&%01'+$%1+&*!0%!5)1*.$+!1&,151,.+00+!,%&'!0+'!
%BB0)C?$%=)&'! ,+&'+'! \! '*%=)&&+C+&*! (%L%&*!
B?&?$%01'?! i+*! $?+00+C+&*! <)&*$P0?j>! 1=&?$%1$+'!
$?'+$5?'!%.D!%.*)/.'>!(?%B+'!.$/%1&'r!900+'!&+!
'+$)&*! 5?$1*%/0+C+&*! +y<1+&*+'! 2.+! '1! 0A)M$+!
,+! *$%&'()$*! <)00+<=I! +'*! 2.%&=*%=5+C+&*!
'.y'%&*+! i(0%<+'! D! ~10)CO*$+'! +&! (?$1),+! ,+!
()1&*+j! +*! 2.%01*%=5+C+&*! <$?,1/0+! iI$?2.+&<+>!
$?B.0%$1*?>! C%100%B+! +*! <)$$+'()&,%&<+'rj>! <+!
2.1!&?<+''1*+$%!,+'!1&5+'=''+C+&*'!01C1*?'>!C%1'!
/+%.<).(!,+!5)0)&*?!()01=2.+E
:A)/F+<=I! ,.! '<?&%$1)! "! '+$%1*! ,+! '*%/101'+$! @!
')&! &15+%.! %<*.+0! 0%! ,?(+&'+! (./012.+! 01?+! %.!
I)&<=)&&+C+&*! ,.! *$%&'()$*! <)00+<=I! .$/%1&!
iL!<)C($1'! 0+!h+$'+C+&*! *$%&'()$*j>! <A+'*3@3,1$+!
,+! *$).5+$! <G%2.+!%&&?+!"!@!8!v!,A?<)&)C1+'!
<)C/1&%&*! 0+'! *$)1'! 0+51+$'! ,A%<=)&! \! '.$! 0%!
<01+&*O0+>! '.$! 0+'! *%$1I'! +*! '.$! 0+'! <)z*'! ,+!
($),.<=)&! ,+'! '+$51<+'E! ;+! 2.1! +D1B+$%! .&!
+M)$*! C1&1C%0! ,A1&5+'=''+C+&*! i+&! '.'! ,+'!
1&5+'=''+C+&*'!,+!,?5+0)((+C+&*!,+'!$?'+%.D!
u!5)1$!<13,+'').'jE
[1! <+'! &15+%.D! ,A?<)&)C1+'! &+! (+.5+&*! Q*$+!
%-+1&*'!%5+<!<+'!*$)1'!0+51+$'>!10!'+$%!&?<+''%1$+>!
,%&'! <+! '<?&%$1)>!,+! '.(($1C+$! 0+'! '+$51<+'! 0+'!
(0.'!,?K<1*%1$+'!+&!(?$1(G?$1+! i@!$+C(0%<+$!(%$!
,.!<)5)1*.$%B+>!(%$!+D+C(0+jE
NNN'-#i($ -$$(M(# $
:+'!<)C(*+'!*$%&'()$*!%y<G+&*!+&!%&&?+!"66p!
.&+! ,?(+&'+! ,A1&5+'=''+C+&*! ,+'! <)00+<=51*?'!
0)<%0+'! +&! *$%&'()$*'! (./01<'! iG)$'! *$%&'()$*'!
,?(%$*+C+&*%.D! +*! $?B1)&%.Dj! ,+! 0A)$,$+! ,+!
"!C1001%$,'!,A+.$)'>!$+0%=5+C+&*!'*%/0+!%.!<).$'!
,+'!Z!,+$&1O$+'!%&&?+'E!
[+0)&!0+!$%(()$*!,.!78!F.1&!"677!,+!0%!;).$!,+'!
;)C(*+'! '.$! 0%! ,+-+! (./012.+! 0)<%0+>! )&! (+.*!
+'=C+$!@!"H!v!0%!(%$*!,+'!1&5+'=''+C+&*'!(./01<'!
,+'!<)00+<=51*?'!0)<%0+'!K&%&<?'!(%$!+C($.&*>!0+'!
oH!v!$+'*%&*'!?*%&*!%.*)K&%&<?'!(%$! 0+!'.$(0.'!
,+! 0%! '+<=)&! ,+! I)&<=)&&+C+&*! ,+'! /.,B+*'!
(./01<'! 0)<%.DE! U+! <+! I%1*>! *).*! %<<$)1''+C+&*!
,+! <G%$B+'! ,+! I)&<=)&&+C+&*! i().$! I%1$+! I%<+!
@! 0A%.BC+&*%=)&!,+'!,?K<1*'!,A+D(0)1*%=)&!,+'!
*$%&'()$*'! (./01<'>! &)*%CC+&*j! '+! *$%,.1*! (%$!
.&+!,1C1&.=)&!@!,.+!<)&<.$$+&<+!,+!0%!<%(%<1*?!
,A%.*)K&%&<+C+&*>! +*! ,)&<! 0A%<<$)1''+C+&*! ,+!
0A+&,+-+C+&*! (./01<! ().$! K&%&<+$! .&! CQC+!
C)&*%&*!,A1&5+'=''+C+&*'E
:+! ($)F+*! ,+! [W`#! ($?5)1*! "p! C1001%$,'! ,+!
($)F+*'!,+!*$%&'()$*'!<)00+<=I'!.$/%1&'>!C?*$)'>!
*$%C�%L'! +*! VXW[! iG)$'! `0+3,+3d$%&<+j>! ,)&*!
0+! K&%&<+C+&*! 'A+M+<*.+! +&! *)*%01*?! '.$! I)&,'!
(./01<'E
W).'! &A%5)&'! (%'! (.! +'=C+$! 0+'! C)&*%&*'!
%&&.+0'! ,A1&5+'=''+C+&*'! (./01<'! ().$! 0+'!
$?'+%.D! ,+! *$%&'()$*! .$/%1&'>! &?<+''%1$+'! @! 0%!
$?B?&?$%=)&!+*!@! 0%!C),+$&1'%=)&!,+'!$?'+%.D!
+D1'*%&*'>!+&!'.'!,+'!($)F+*'!,.
!ZZ!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
d%.*310! ,1M?$+$! *).'! 0+'! 1&5+'=''+C+&*'! ,+!
,?5+0)((+C+&*! ,.! $?'+%.! i0+'! #;[Yj! +*! &+!
<)&'+$5+$!2.+!<+.D! F.'=K?'!(%$!,+'! $1'2.+'!,+!
,?B$%,%=)&! ,.! $?'+%.>! ).! &?<+''%1$+'! @! .&+!
+D(0)1*%=)&! (0.'! (+$I)$C%&*+! m! [%&'! ,).*+!
(%'>! <%$!,+!&)C/$+.D!($)F+*'! ')&*!,?F@!R!,%&'!
0+'! *.L%.D! SE! U%&'! <+! <)&*+D*+>! 10! +'*! ($)()'?!
,+! 01C1*+$! @! 6>n! C1001%$,! (%$! %&! i%.! 01+.! ,+!
7>"! C1001%$,j! 0+! $L*GC+! ,A1&5+'=''+C+&*! ,+'!
#;[Y>!')1*!.&!%00OB+C+&*!<.C.0?!,+!7"!C1001%$,'!
,A+.$)'!'.$!0%!(?$1),+!"6763"686E
e-6K('I'G' !"#$%&! $'6&,,(6 -e$'*!+"-#$'k'!d6"%- *," -e
OOO'$7>:93?<'D'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD['[' 39:0;<3=0'7<88/7XW0'5329?:0''ZK<30'!-e[
ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*! ">";$)1''%&<+!!iG)$'!(%$*!h#j!!
}!8>!H!@!}!Z!v!(%$!%&!U?K<1*!!'.((0?C+&*%1$+!!}!n!aw
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* 7>n Y+$C+*!,+!K&%&<+$!0+
!ZH!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'%d!-Mn !(
#$%&'()$*'!(./01<'!+&!̀ 0+3,+3d$%&<+!)$B%&1'?'!(%$!
0+![#`d!\!]4#Y!ic?*$)>!]9]>!4.*)/.'!#$%C�%L'j>!
[W;d!d$%&<101+&!+*!]?'+%.!bY#`:9!ib$B%&1'%=)&!
($)I+''1)&&+00+!,+'!#$%&'()$*'!,A`0+3,+3d$%&<+! \!
%.*)/.'!+*!%.*)<%$!(?$1.$/%1&'jE!!!
:%!(%$*!,+'!*$%&'()$*'!<)00+<=I'!,%&'!0A+&'+C/0+!
,+'!,?(0%<+C+&*'!+M+<*.?'!+&!`0+3,+3d$%&<+!+'*!
,+!"6>H!v!+&!"66o3"66l!i().$!.&!,?(0%<+C+&*!
C)L+&!+&!*$%&'()$*!<)00+<=I!,+!7"!~10)CO*$+'jE
U+! "667! @! "66p>! +&! G.1*! %&'>! 0+! *$%K<! ,+'!
5)L%B+.$'! %! ($)B$+''?! ,+! ($O'! ,+! "H! vE! :%!
<$)1''%&<+!,.!*$%K<!%!<+(+&,%&*!?*?!C)1&'!I)$*+!
'.$!0%!(?$1),+!$?<+&*+!+&!`0+3,+3d$%&<+!2.+!,%&'!
0+'!B$%&,+'!%BB0)C?$%=)&'!,+!($)51&<+>!,.!I%1*!
,.!(G?&)CO&+!,+!$%-$%(%B+!2.1!%!C%$2.?!<+00+'3
<1E!;+'!,+$&1O$+'!%&&?+'>! 0A)M$+!,+! *$%1&'!+*!,+!
C?*$)'>!%!($)B$+''?!(0.'!0+&*+C+&*!2.+!0+!*$%K<>!
+&!0A%/'+&<+!,+!C1'+!+&!'+$51<+!,A1&I$%'*$.<*.$+'!
R!0).$,+'!S!1C()$*%&*+'E
NNN'e -&##(M(#
[+0)&! 0+'! ,)&&?+'! ,.! [L&,1<%*! ,+'! *$%&'()$*'!
,A`0+3,+3d$%&<+! i[#`dj>! 0%! ,?(+&'+! ,+!
I)&<=)&&+C+&*!,+'!*$%&'()$*'!<)00+<=I'!+&!`0+3
,+3d$%&<+!'A+'*!?0+5?+!@!l!C1001%$,'!,A+.$)'!().$!
0A%&&?+!"676>!+&!G%.''+! $?B.01O$+!%.!<).$'!,+'!
,+$&1O$+'!%&&?+'>!+''+&=+00+C+&*!,.! I%1*!,+! 0%!
<$)1''%&<+! ,+'! <)z*'! .&1*%1$+'! ,A+D(0)1*%=)&! +*!
,.! ,?5+0)((+C+&*! ,+'! '+$51<+'! )M+$*'E! ;+-+!
,?(+&'+! 1&<0.*! .&+! (%$*! ,A+&51$)&! 6>l! C1001%$,!
,A+.$)'! ,A%C)$=''+C+&*'E! [+0)&! 0+! ]%(()$*!
;%$$+N! ,+! '+(*+C/$+! "66p>! <+-+! ,?(+&'+! %!
%.BC+&*?!+&!C)L+&&+!,+!">8!()1&*'!%.!,+''.'!
,+!0A1&J%=)&!+&*$+!"666!+*!"66lE
:+'! $+<+-+'! *%$1I%1$+'! )&*! $+($?'+&*?!
8>78!C1001%$,'!,A+.$)'!+&!"676!i,)&*!6>oZ!C1001%$,!
,+!$+C/).$'+C+&*!,+'!+C(0)L+.$'!%.D!'%0%$1?'!
+*!G)$'!<)C(+&'%=)&'!*%$1I%1$+'!,+'!<)00+<=51*?'j>!
')1*!8p!v!,+'!,?(+&'+'!,+! I)&<=)&&+C+&*E! :%!
(%$*! ,+! <+-+! <)&*$1/.=)&! ,+'! 5)L%B+.$'! %.D!
,?(+&'+'! ,+'! *$%&'()$*'! <)00+<=I'! ,A`0+3,+3
d$%&<+!%!,1C1&.?!%.!<).$'!,+'!,+$&1O$+'!%&&?+'E!!
:+! ($),.1*! ,.! 5+$'+C+&*! *$%&'()$*! ihE#E>! 5+$'?!
(%$! 0+'! +C(0)L+.$'!(./01<'! ).!($15?'! <)C(*%&*!
(0.'! ,+! p! '%0%$1?'j>! %! $+($?'+&*?! 8! C1001%$,'!
,A+.$)'! +&! "676>! ')1*! 8o>H! v! ,+'! ,?(+&'+'!
,+! I)&<=)&&+C+&*E! ;+! ($),.1*! &+! <).5$+!
2.A.&+!(%$=+!,.!,?K<1*!,+!I)&<=)&&+C+&*!{! 0+!
')0,+! ,+! <+! ,?K<1*! +'*! <).5+$*! (%$! 0+'! /.,B+*'!
,+'! <)00+<=51*?'! (./012.+'! iL! <)C($1'! 0+'!
<)C(+&'%=)&'!().$!*%$1I'!')<1%.Dj!@!G%.*+.$!,+!
7>nn!C1001%$,!,A+.$)'!+&!"676>!+&!%.BC+&*%=)&!
$%(1,+! %.! <).$'! ,+'! ,+$&1O$+'! %&&?+'! i,+!
Z>7!()1&*'!%.!,+''.'!,+!0A1&J%=)&!+&*$+!"666!+*!
"66l>!'+0)&!0+!$%(()$*!;%$$+NjE
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
U%&'! 0+'! ($)<G%1&+'! %&&?+'>! 0%! ().$'.1*+! ,+'!
?5)0.=)&'! $?<+&*+'! ,+'! *$%&'()$*'! +&! `0+3,+3
d$%&<+!'+$%1*!<%$%<*?$1'?+>!+&!+.$)'!<)&'*%&*'>!(%$!
\
x!!.&+!<$)1''%&<+!,+!0%!,?(+&'+!,+!I)&<=)&&+C+&*!
,+'!*$%&'()$*'>!,+!0A)$,$+!,+!">8!v!(%$!%&>
x!!.&+!<$)1''%&<+!,+!0%!$+<+-+!,+'!5)L%B+.$'!!,+!
0A)$,$+!,+!"!v!(%$!%&!i,)&*!6>H!v!,+!$+0O5+C+&*!
*%$1I%1$+!+*!7>H!v!,+!<$)1''%&<+!,.!*$%K<j>
x!!.&+! ($)B$+''1)&! ,+'! $+<+-+'! ,.! h+$'+C+&*!
*$%&'()$*! i@!(?$1CO*$+!+*! *%.D! 1&<G%&B?'j>! 01?+!
@! 0%!<$)1''%&<+!,+! 0%!C%''+!'%0%$1%0+!+&! `0+3,+3
d$%&<+! +*! +'=C?+! @! 7>8! v! (%$! %&! i0+! $%(()$*!
;%$$+N! %5%1*! ?5%0.?! @! 7>7! ()1&*! %.! ,+''.'! ,+!
0A1&J%=)&!<+-+!($)B$+''1)&!+&*$+!"666!+*!"66ljE
Y%$! ,1M?$+&<+>! 0+! /+')1&! ,+! K&%&<+C+&*!
'.((0?C+&*%1$+! i%.BC+&*%=)&'! ,+! 0%! <G%$B+!
(./012.+>!G)$'!h#j>!'+$%1*!($)<G+!,+!l6!C1001)&'!
(%$!%&!i}Z>o!vj>!')1*!7n!C1001%$,'!,A+.$)'!<.C.0?'!
'.$!0%!(?$1),+!"6763"686E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
Y0.'1+.$'! C+'.$+'! <)C(0?C+&*%1$+'!
(+$C+-$%1+&*!,+!$?,.1$+! 0A?<%$*!<$)1''%&*!+&*$+!
$+<+-+'!<)CC+$<1%0+'!+*!,?(+&'+'!,A+D(0)1*%=)&!
,+'!*$%&'()$*'!.$/%1&'!\!
x!!:%! '*%/101'%=)&! ,+'! <)z*'! ,A+D(0)1*%=)&! ,+'!
e-6K('\'G' !"#$%&! $'6&,,(6 -e$'(#'-,(k)(ke!"#6(
!Zn!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
01B&+'! ,+! *$%&'()$*! (./01<'! +&! 01C1*%&*! @!
0A1&J%=)&! 0%! <$)1''%&<+! ,+'! <)z*'! .&1*%1$+'!
,A+D(0)1*%=)&!+*!+&!)$B%&1'%&*!0+!$+,?(0)1+C+&*!
,+!0A)M$+!i@!C)L+&'!<)&'*%&*'jE!
x!!:+'! $+0O5+C+&*'! %&&.+0'! ,+'! *%$1I'! i+*!
&)*%CC+&*! ,+'! I)$I%1*'j! @! "! v! (%$! %&! %.!
,+''.'! ,+! 0A1&J%=)&! i%.! 01+.! ,+! 6>H!vjE! Y).$!
Q*$+!%<<+(*%/0+>!.&+!*+00+!C+'.$+!,+5$%1*!%00+$!
,+!(%1$!%5+<!.&!($)B$%CC+!,A1&5+'=''+C+&*>!
<1/0?! '.$! 0A%.BC+&*%=)&! ,+! 0%! <%(%<1*?>! ,.!
<)&I)$*!+*!,+!0%!K%/101*?!,.!$?'+%.!,+!*$%&'()$*'!
<)00+<=I'! i%5+<! 0+'! <)z*'! ,A+D(0)1*%=)&!
'.((0?C+&*%1$+'! 01?'j>! +*! %5+<! ,+'! *%$1I'!
')<1%.D! %,%(*?'! +&! <)&'?2.+&<+E! [).'! <+-+!
$?'+$5+! 1C()$*%&*+>! <+-+!C+'.$+!%(()$*+$%1*!
.&+! $+'').$<+! K&%&<1O$+! <)C(0?C+&*%1$+!
,A+&51$)&! ZH! C1001)&'! (%$! %&>! ')1*! p! C1001%$,'!
,A+.$)'!<.C.0?'!'.$!0%!(?$1),+!"6763"686E!
:%!<)C/1&%1')&!,+!<+'!,+.D!C+'.$+'!(+$C+-$%1*!
,+!,?B%B+$>!().$!0+'!,?(+&'+'!,A1&5+'=''+C+&*>!
0+'! '.((0?C+&*'! ,+! $+<+-+'! %-+&,.+'! ,.!
5+$'+C+&*!*$%&'()$*>!,A.&!C)&*%&*!,+!0A)$,$+!,+!
l!C1001%$,'!,A+.$)'!<.C.0?'!'.$!0%!(?$1),+!"6763
"686E
NNN'-#i($ -$$(M(# $
:%!,?(+&'+!,A1&5+'=''+C+&*!().$!0+'!*$%&'()$*'!
<)00+<=I'!+&!`0+3,+3d$%&<+!%!<$z!,+!($O'!,+!Zn!v!
+&!+.$)'!<)&'*%&*'!+&*$+!"666!+*!"66lE!900+!'+$%1*!
,+!0A)$,$+!,+!">8!C1001%$,'!,A+.$)'!+&!"676!i,)&*!
6>p! C1001%$,! K&%&<?'! (%$! 0+'! %C)$=''+C+&*'!
1&<0.'! ,%&'! 0+'! l! C1001%$,'! ,+! ,?(+&'+'! ,+!
I)&<=)&&+C+&*jE!
;+'!1&5+'=''+C+&*'!,+5$%1+&*!%-+1&,$+!8>o!c,w!
'.$!0%!(?$1),+!"6763"6"H!'1!0A)&!5+.*!$?%01'+$!@!0%!
I)1'!0+!($)B$%CC+!,A+D*+&'1)&!,+'!$?'+%.D!#;[Y!
+*!0%!C),+$&1'%=)&>!%1&'1!2.+!0A%.BC+&*%=)&!,+!
<%(%<1*?!,+'!01B&+'!+D1'*%&*+'E
OOO'$7>:93?<'D'G' /:49:7?/8'OOO
;A+'*! 0%!C1'+! +&!k.5$+! '.$! "6! %&'! ,.! (0%&! ,+!
C)/101'%=)&!().$! 0+'!*$%&'()$*'!,A`0+3,+3d$%&<+!
+*! ,.! $?'+%.! ,.! a$%&,! Y%$1'>! 2.1! $+($?'+&*+&*!
.&! 5)0.C+! ,A1&5+'=''+C+&*'! ,+! 0A)$,$+! ,+!
Z6! C1001%$,'! i')1*! "! C1001%$,'! ,A+.$)'! (%$! %&j!
<)C($+&%&*!\
x!!7H! C1001%$,'! ().$! 0+! (0%&! ,+! C)/101'%=)&!
().$! 0+'!*$%&'()$*'!+&!`0+3,+3d$%&<+!iG)$'!4$<!
9D($+''!1&<0.'!,%&'!0+!$?'+%.!a$%&,!Y%$1'jE!;+!
(0%&>! %,)(*?! (%$! 0+! <)&'+10! $?B1)&%0! +&! F.1&!
"66p>!<)C($+&,!&)*%CC+&*!0%!C),+$&1'%=)&!
,+'! 01B&+'!,+!]9]!+*!,+! 0%! 01B&+!78!,.!C?*$)>!
%1&'1! 2.+! 0+'! ($)0)&B+C+&*'! &)$,! +*! '.,! ,+!
0%! 01B&+! 7ZE! `0! ($+&,! +&! <)C(*+! 0A%<<?0?$%=)&!
,+! 0%!C1'+! +&!k.5$+! ,+! ($)F+*'! ,?F@! 1&'<$1*'!
%.!<)&*$%*!,+!($)F+*'!9*%*3$?B1)&>!&)*%CC+&*!
0+! ($)0)&B+C+&*! ,.! ]9]! 9! 5+$'! :%! U?I+&'+!
i().$!0+2.+0!10!I%.*!%F).*+$!,+'!($)51'1)&'!().$!
$+5%0)$1'%=)&!,.!<)z*!,A1&5+'=''+C+&*'!+*!,+'!
<G%$B+'!,A+D(0)1*%=)&jE
x!!"6!C1001%$,'!().$!0+!$?'+%.!,+!*$%&'()$*!,.!a$%&,!
Y%$1'E! 4! <+!C)&*%&*! %y<G?! ,+! "6>H!C1001%$,'!
,A+.$)'>! 10! '+$%1*! &?<+''%1$+! ,A%F).*+$! "! @!
8! C1001%$,'! '.((0?C+&*%1$+'! ().$! *$%5%.D!
&)&! <G1M$?'! i<%(%<1*?! ,+'! B%$+'! +D1'*%&*+'!
+&! <)$$+'()&,%&<+! %5+<! 0+! $?'+%.! ,.! B$%&,!
Y%$1'>!(%$!+D+C(0+j>!().$!,+'!1&5+'=''+C+&*'!
'.((0?C+&*%1$+'! ,+! C),+$&1'%=)&! +*! ,+!
,?5+0)((+C+&*! ,.! $?'+%.! @! $?%01'+$! +&*$+!
"6"H! +*! "686! i">H! C1001%$,'! ,A+.$)'j! +*! ,+'!
<)z*'! '.((0?C+&*%1$+'! ,A+D(0)1*%=)&! &+*'!
,+'! $+<+-+'! '.((0?C+&*%1$+'! ,+'! 5)L%B+.$'!
i"!C1001%$,'!,A+.$)'jE
x!!"! C1001%$,'! ,A)(?$%=)&'! 1&'<$1*+'! ,%&'! 0+'!
<)&*$%*'!,+!($)F+*'!]?B1)&'3U?(%$*+C+&*'
;+! $L*GC+! ,A1&5+'=''+C+&*! (%''%&*! ,+!
">8!C1001%$,'!,A+.$)'!@!8>o!C1001%$,'!,A+.$)'!'.$!0%!
(?$1),+!"6763"686!$+($?'+&*+$%1*!.&+!,?(+&'+!
(./012.+!%&&.+00+!'.((0?C+&*%1$+!,+!7>Z!C1001%$,!
,A+.$)'>!')1*!.&+!,?$15+!,?K<1*%1$+!,+!0A)$,$+!,+!
"l!C1001%$,'!,A+.$)'!'.$!0%!(?$1),+!"6763"686E
OOO'$7>:93?<'B'G')>0/:4/c/1/:='OOO
;)C(*+! *+&.! ,+! 0%! '%*.$%=)&! ,A.&! &)C/$+!
1C()$*%&*! ,+! 01B&+'! I+$$)51%1$+'>! 10! +'*!
,1y<10+C+&*! +&51'%B+%/0+! ,+! $+*%$,+$! 0+'!
1&5+'=''+C+&*'! ,+! C),+$&1'%=)&>! %1&'1! 2.+!
0A%.BC+&*%=)&!,+!<%(%<1*?!*+0'!2.+!($?5.'!,%&'!
0+! (0%&! ,+! C)/101'%=)&! ().$! 0+'! *$%&'()$*'! +&!
`0+3,+3d$%&<+E!Y%$!<)&*$+>!0+'!1&5+'=''+C+&*'!,.!
!Zo!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
a$%&,!Y%$1'>!().$$%1+&*!Q*$+!,1M?$?'!i'%.I!(+.*3
Q*$+!0%!(%$=+!'.,!,A4$<!+D($+''jE!
U%&'! <+-+! GL()*GO'+>! 0A1&5+'=''+C+&*! ,+!
,?5+0)((+C+&*!,.!$?'+%.!@!K&%&<+$!'.$!"6!%&'!
&+!'+$%1*!(0.'!,+!Z6!C1001%$,'!C%1'!'+.0+C+&*!,+!
"6!C1001%$,'>!0<?='D'1?88?934'/:@?3<:';93'9:]'7/'U5?'9;;939?='7<1;9X28/'9@/7'8P97=5/88/'7<:=3?25X<:';528?U5/'4P?:@/0X00/1/:=_'
e-6K('\'G' !"#$%&! $'6&,,(6 -e$'-,(k)(ke!"#6('k'!d6"%- *," -e
OOO'$7>:93?<'D'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD['[' 39:0;<3=0'7<88/7XW0'-8/G4/Ge39:7/ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*!7>nn
i}h#!8>6j
;$)1''%&<+!iG)$'!h#j
}!Z>o!v!(%$!%&!U?K<1*!'.((0E!}7n!aw
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* 7>Z ;$)1''%&<+!\!}!7>Z!aw %&! U?K<1*!'.((0E!}!"l!aw
& ", <=98'4/c/'05;;8_'`'HH'La
OOO'$7>:93?<'B'G'!>79;?=589XW'4/0'Ss;<=St0/0'/='3>058=9=0'i+&!C1001%$,'!,A+.$)'!<)&'*%&*'!"676j'OOO
ZD[' 39:0;<3=0'7<88/7XW0'-8/G4/Ge39:7/ZB['+90/''BCDC
ZF['Ss;<=St0/0'>@<85X<:'BCDCGBCFC
ZH['3>058=9='u'4>3?@/'4>A7?=9?3/';528?U5/'4/'BCDC'R'BCFC
;)&*$1/.=)&!(./012.+!,+!I)&<=)&&+C+&*!7>nn
i}h#!8>6j
[*%/101'%=)&!<)z*'!I)&<*E
+*!!*%$1I'!}!"!v!(%$!%&
400OB+C+&*!,?K<1*\!3!p>6!aw
}!h#!'.((0E!\!3!l!aw
;)&*$1/.=)&!(./012.+!,A1&5+'=''+C+&* 7>Z ;$)1''%&<+!\!}!6>Z!aw %& U?K<1*!'.((0E!}l!aw
& ", <=98'988tE_'4>A7?=''G'^'La
!Zl!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
e-6K('^'G' !"#$%&! '"d!-(#'k'!d6"%- *," -e
:+! *$%&'()$*! %?$1+&! 'A%.*)K&%&<+! +&! 2.%'13*)*%01*?! +&! I)&<=)&&+C+&*E! :+'! <G)1D!
,A1&5+'=''+C+&*'!)&*!.&!1C(%<*!C1&+.$!'.$!0%!,?(+&'+!(./012.+E!:%!($?'+&*+!?*.,+!&A%!,)&<!
(%'!($1'!+&!<)C(*+!0+!'+<*+.$!%?$1+&!,%&'!0+'!'<?&%$1)'!,+!R!,?$15+!,?K<1*%1$+!SE
NNN'%d!-Mn !(
4?$)()$*'!+*!&%51B%=)&!%?$1+&&+E
NNN'e -&##(M(#
[1! 0A)&! +D<+(*+! 0+! <%'! (%$=<.01+$! ,+! 2.+02.+'!
%?$)()$*'!,A).*$+3C+$>!!10!L!%!01+.!,+!<)&'1,?$+$!2.+>!
*$O'!B0)/%0+C+&*>!0+!'+<*+.$!%?$1+&!'A%.*)K&%&<+E!
U%&'! 0A+&'+C/0+>! 0+'! *$%&'()$*+.$'! %?$1+&'>! 0+'!
%?$)()$*'!+*! 0+! $?B.0%*+.$ %.*)$1*?!,+!<)&*$P0+ !
($+'*%*%1$+!,+'!'+$51<+'!iUa4;j!?2.101/$+&*!0+.$'!
%<=51*?'>!!'%.I!<%'!(%$=<.01+$!,+'!%&&?+'!,+!<$1'+E!
_&+!(%$*!,+!7H!v!'.$!8""!cw!,+!0%!*%D+!%51%=)&!
<1510+!,.+!(%$!0+'!*$%&'()$*+.$'!%?$1+&'!+'*!CQC+!
$+5+$'?+!%.!/.,B+*!B?&?$%0!i,)&&?+'!"67"jE
!:+'!+D<+(=)&'!@!<+!($1&<1(+!<)&<+$&+&*!0+'!%1,+'!
%00).?+'! (%$! 0A9*%*! +*! 0+'! <)00+<=51*?'! 0)<%0+'!
().$! 0+'! ,+''+$*+'! ,+! '+$51<+! (./01<! i;)$'+>!
01B&+'! ,A%C?&%B+C+&*! ,.! *+$$1*)1$+>! ,+''+$*+'!
).*$+3C+$j>! +*! (%$! 0+'! <)00+<=51*?'! 0)<%0+'! ! '.$!
<+$*%1&+'! (+=*+'! (0%*+'3I)$C+'! $?B1)&%0+'! +*!
().$! 0+'! 01B&+'! ,+! <+$*%1&+! <)C(%B&1+! @! /%'!
<)z*! i]L%&%1$jE! X)$C1'! 0%! ,+''+$*+! ,+! 0%! ;)$'+>!
in"!cw!+&!"66p!')1*!7 8!,+!0%!,)*%=)&!*)*%0+j!0+'!
')CC+'!+&!F+.!')&*!%''+N!C),+'*+'E
Y%$! %100+.$'>! ,+'! C?<%&1'C+'! ,+! (?$?2.%=)&!
1&*+$&+!(+$C+-+&*!,+!$+C?,1+$!%.D!($)/0OC+'!
K&%&<1+$'! ,+'! (+=*+'! (0%*+'3I)$C+'! ,%&'! 0+!
,)C%1&+! ,+! 0%! '?<.$1*? 'z$+*?! ,A.&+! (%$*>! ,.!
<)z*!,.!<)&*$P0+!,A%(($)<G+!,A%.*$+!(%$*E
NNN'-#i($ -$$(M(# $
:%!&%51B%=)&!%?$1+&&+!+*!0+'!%?$)()$*'!i'%.I!0+'!
(+=*'!2.1!$+2.1O$+&*!,+'!<)&<).$'!,+'!<)00+<=51*?'!
0)<%0+'j!%''.$+&*!+.D3CQC+'! 0+!K&%&<+C+&*!,+!
0+.$'! 1&5+'=''+C+&*'>!(%$! ! %.*)K&%&<+C+&*!).!
+C($.&*E!;)C(*+!*+&.!,+'!,1y<.0*?'!,.!'+<*+.$>!
0A+&,+-+C+&*!,+!0%!Ua4;!+'*!*).*+I)1'!(%''?!,+!
oZ6!cw!+&!"66H!@!7"66!cw!+&!"67"E
4?$)()$*!,+!Y%$1'>!+&*$+!"66o!+*!"676>!%!$?%01'?!
">p! C1001%$,'! ,A+.$)'! ,A1&5+'=''+C+&*'! i,)&*!
"!o66!cw!'.$!0+!(?$1CO*$+!$?B.0?j!%5%1*!.&!$%=)!
,A+&,+-+C+&*!&+* !I)&,'!($)($+'!,+!o"!v!@!K&!
"66p!+*!,+!n7!v!@!K&!"677E![.$!0%!(?$1),+!"6773
"67H>! 0+!C)&*%&*! '+$%! 1&I?$1+.$! i"! 866!cw! '.$!
0+! (?$1CO*$+! $?B.0?! {! (%'! ,+! &).5+%.! *+$C1&%0!
($?5.!%5%&*!0%!($)<G%1&+!,?<+&&1+jE
,P/:m/5'A:9:7?/3'45'0/7=/53'9>3?/:''49:0'8/';3<m/='4/' $#- ' 3/0=/'193E?:98! \! 10! $+($?'+&*+!7!v!,+'!
,?(+&'+'!,+!C),+$&1'%=)&!+*!6>H!v!,+'!,?(+&'+'!
,+!,?5+0)((+C+&*!,.!'+<*+.$!,+'!*$%&'()$*'E!:+!
[W`#!%y<G+!.&!($)B$%CC+!,A1&5+'=''+C+&*!,+!
7>"!C1001%$,!().$!0%!C),+$&1'%=)&!i@!766!v!9*%*j>!
+*! ,+! 6>oH! C1001%$,! ().$! 0+! ,?5+0)((+C+&*! i@!
86!v!9*%*!}!<)00+<=51*?'!*+$$1*)$1%0+'j>!,)&*!&).'!
&A%5)&'!(%'!(.!,?*+$C1&+$!0+!<)&*+&.E
,/0' ?:@/0X00/1/:=0'9>3<;<3=59?3/0'0<:='4?v7?8/0'R'3/1/c3/'/:'7950/E!9&!(%$=<.01+$!\!().$!0A4?$)()$*!,+!W)*$+3U%C+!,+'!:%&,+'>!0+!<)&*$%*!,+!<)&<+''1)&!
%! ?*?! '1B&?! +&! ,?<+C/$+! "676! +*! 0+! K&%&<+C+&*!
'+$%1*!%''.$?!(%$!0A9*%*!i78l>H!cwj>!0+'!<)00+<=51*?'!
0)<%0+'! i77H>H! cwj! +*! 0+! <)&<+''1)&&%1$+! {! ().$!
0A4?$)()$*! ,+! c%L)-+>! 0%! &).5+00+! (1'*+! ,)1*!
(+$C+-$+! 0+! ,?<)00%B+! @! (0+1&+! <G%$B+! ,+'! 0)&B'!
<).$$1+$'!+*!,)&<!,+!$+01+$!,1$+<*+C+&*!0%!C?*$)()0+!
'%&'!$+/$).''+C+&*!(%$!:%!]?.&1)&E
e-6K('^'G' !"#$%&! '"d!-(#
!Zp!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
8+!(%$=+!;)&*$1/.=)&'!,A+D(+$*'!%'')<1?'!%.D!*$%5%.DNNN'D_'%&-# ')('i*('$*!',"')( ('%*+,-.*('e!"#w"-$(
T)^0!c4_]`;9>!%&<1+&!C+C/$+!,.!;)&'+10!,A4&%0L'+!9<)&)C12.+
NNN'B_'6&#)- -&#$'M"6!&d6&#&M-.*($')*')d$(#)( (M(# '&343/0'4/'E39:4/53';<53'89'7<:=3?25X<:'4/0'=39:0;<3=0
40%1&!VbWW4db_[>!Y$)I+''+.$!9C?$1*+!,+!0A_&15+$'1*?!:.C1O$+3:L)&"!3!:9#!
@!(%$=$!,+!0%!&)*+!,+!T)^0!c4_]`;9!'.$!0%!,?K&1=)&!,+'!<)&<+(*'!+*!0+'!?2.%=)&'!2.1!0+'!01+&*E
NNN'F_',"'6&# !-+* -&#')($' !"#$%&! $'f',"')( ('%*+,-.*(
]?CL!Y]_UAXbcc9>!Y$)I+''+.$!?C?$1*+!@!0A_&15+$'1*?!,+!Y%$1'!�``E
NNN'H_'(i",*" -&#')($'%!&x( $')P-#e!"$ !*6 *!($')(' !"#$%&!
T+%&3W)^0!;X4Y_:_#>!1&B?&1+.$!B?&?$%0!,+'!()&*'!+*!<G%.''?+'!G)&)$%1$+E
V+$&%$,![9:`ac4WW>!`&'(+<*+.$!B?&?$%0!,+!0A92.1(+C+&*!G)&)$%1$+E
NNN'"##(g(
!/7/c/0'0;>7?AU5/0'4/0'941?:?0=39X<:0';3<@/:9:='4/'89'3<5=/
9D*$%1*'!,+!R!!d%1*'!+*!;G1M$+'!"677!3![*%='=2.+'!,+!*$%&'()$*'!+&!d$%&<+!+*!+&!9.$)(+!S
_&1)&!]).=O$+!,+!d$%&<+!!
!H6!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
NNN'D_'6&# (g ('')(',"')( ('%*+,-.*('e!"#w"-$(
D_D_!:%!,+-+!I$%&q%1'+!i+&!()1&*'!,+!Y`Vj!$?'.0*+!
().$!.&!=+$'!+&51$)&!,+!0%!<$1'+!+*!().$!0+'!,+.D3
=+$'! ,A%5%&*! 0%! <$1'+E! :%! ($+C1O$+! (%$=+! +'*! 0%!
<)&*$+(%$=+!,+'!()01=2.+'!2.1!)&*!?*?!C+&?+'!
().$! +C(Q<G+$! 0%! <$1'+! ).5+$*+! +&! "66l! ,+!
,?B?&?$+$! +&! a$%&,+! U?($+''1)&! ,+'! %&&?+'!
7p86! +*! 10! +'*! 1&<)G?$+&*! ,+! 0%! <$1=2.+$E! :%!
,+.D1OC+!(%$=+!+&!$+5%&<G+!%!?*?!%<<.C.0?+!%.!
<).$'!,.!*+C('!(%$!R!1&').<1%&<+!S!\!0%!<$)1''%&<+!
%!?*?!K&%&<?+!R!@!<$?,1*!S!+*!10!+'*!,%&'!0%!&%*.$+!
,+'!<G)'+'!2.+! 0+!$+C/).$'+C+&*!,+!<+!<$?,1*!
'+!*$%,.1'+!(%$!.&+!$?,.<=)&!,.!*$%1&!,+!51+E!:%!
;).$!,+'!;)C(*+!%!C)&*$?!2.+!'%&'!0+'!,15+$'+'!
$?,.<=)&'! ,A1C(P*'! 0+! ,?K<1*! ,+'! K&%&<+'!
(./012.+'!'+$%1*!1&I?$1+.$!@!8!v!+*!2.+!0+!*%.D!,+!
,+-+! '+$%1*! 1&I?$1+.$! @!n6!vE! i_&!,+'!?(1'),+'!
<%$%<*?$1'=2.+'! ,+! <+-+! R! 1&').<1%&<+! S! +'*!
<+0.1!,+!0%!R!<%B&)-+!S!,+!"667!)�!0+!Y$?'1,+&*!
;G1$%<!%!+D1B?!,.!Y$+C1+$!c1&1'*$+!T)'(1&!2.+!0+'!
+D<?,+&*'!,+! $+&*$?+'!K'<%0+'!($)<.$?+'!(%$! 0%!
<$)1''%&<+!')1+&*!R!$+'=*.?+'!S!%.D!<)&*$1/.%/0+'!
').'!I)$C+!,+!/%1''+'!,A1C(P*'!{!<+!2.1!%!+&*$%|&?!
0%!,?C1''1)&!,+!;G$1'=%&
!H7!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
/+%.<).(! C)1&'! 1C()$*%&*! 2.+! 0+'! $?J+D1)&'!
'.$!0%!<)&,.1*+!@!*+&1$!@!(%$=$!,+!C%1&*+&%&*!+*!
F.'2.A%.!$+*).$!@!C+100+.$+!I)$*.&+E
D_p_!Y).$! $?')$/+$! 0+'!,?K<1*'!(./01<'>!)&!(+.*!')1*! %.BC+&*+$! 0+'! $+<+-+'>! ')1*! ,1C1&.+$!
0+'! ,?(+&'+'E! :+! <G)1D! +&*$+! 0+'! ,+.D! +'*! (%$!
+''+&<+!()01=2.+E! #).*! <)CC+!+'*! ()01=2.+! 0%!
$?(%$==)&!1&*+$&+!,+'!$+<+-+'!+*!,+'!,?(+&'+'!
+&*$+! 0+'! ,1M?$+&*+'! <%*?B)$1+'! ')<1%0+'E! `0! +'*!
I%<*.+0! 2.+! 0%! d$%&<+! +'*! %.F).$,AG.1! R! '.$! 0+!
(),1.C!S!,+'!(%L'!+.$)(?+&'!2.1!)&*!.&+!(%$*!
?0+5?+!,+'!$+<+-+'!(./012.+'!i+*!,+'!,?(+&'+'!
(./012.+'j!(%$!$%(()$*!%.!Y`VE!9*!2.+!0%!;).$!,+'!
;)C(*+'!+00+3CQC+!$+<)CC%&,+!,+!$?,.1$+!0+'!
,?(+&'+'!(0.*P*!2.+!,A%.BC+&*+$!0+'!$+<+-+'E
NNN'B_'6&#$d.*(#6($'%&*!',('$(6 (*!')*' !"#$%&! _
B_D_!`0!I%.*!$?J?<G1$!@!0%!C+100+.$+!I%q)&!,+!*+&1$!
<)C(*+! ,+! I)&,'! (./01<'! 2.1>! ().$! .&! <+$*%1&!
*+C('>!'+$)&*!$%$+'!+*!<G+$'E
B_B_! ;+-+! <1$<)&'*%&<+! $1'2.+! I)$*! ,+! ($+&,$+!
.&+!%<.1*?!(%$=<.01O$+>!C%1'!0+'!$?J+D1)&'!'.$!0+'!
<)&'?2.+&<+'!@!+&!=$+$!&A+'*!(%'!&).5+00+E!900+'!
)&*! %01C+&*?! *).'! 0+'! *$%5%.D! ,.! ;)CC1''%$1%*!
B?&?$%0! ,.! Y0%&! ,O'! ')&! )$1B1&+! %1&'1! 2.+>! %.!
'+1&!,+'!&)*$+!'+<*+.$>! <+.D!,+! T%<2.+'!#G?,1?E!
`0! &AL! %! (%'! '1! 0)&B*+C('! .&+! <)&*$1/.=)&! %.D!
$?J+D1)&'!%!?*?!%(()$*?+!(%$!0%!(./01<%=)&!').'!
0A?B1,+!,.!Y]9U`#!,+!0A).5$%B+!1&=*.0?!R!:+!<%0<.0!
?<)&)C12.+!,%&'!0+!($)<+''.'!,+!<G)1D!<)00+<=I!
,+'! 1&5+'=''+C+&*'! ,+'! *$%&'()$*'! S>! "66o>!
9<)&)C1<%E!ih)1$! 0+'!<G%(1*$+'!l!+*!p>!&)&!F)1&*'!
1<1jE
B_F_! :A1C(?$%=I! 0)B12.+! <)&'1'*+! @! $+51'1*+$! 0%!
G1?$%$<G1'%=)&!,+'!($)F+*'>!+&!?*+&,%&*! 0+!C)*!
($)F+*'! &)&! '+.0+C+&*! %.D! 1&5+'=''+C+&*'!
&).5+%.D! C%1'! %.''1! %.! C),+! ,+! B+'=)&! ,+'!
'L'*OC+'!,+!*$%&'()$*'!+D1'*%&*'E!;+-+!$?51'1)&!
,+5$%1*! *+&1$! <)C(*+! ,+'! (+$'(+<=5+'! ,+!
<$)1''%&<+! *+00+'! 2.A)&! (+.*! 0+'! %(($?G+&,+$!
%.F).$,AG.1>! +*! 2.1! (+.5+&*! Q*$+! '+&'1/0+C+&*!
(0.'! I%1/0+'! 2.+! <+00+'! 2.1! ?*%1+&*! %&=<1(?+'!
%.! C)C+&*! ,+! 0%! $?%01'%=)&! ,+'! 'L'*OC+'!
+D1'*%&*'!).!,+'!?*.,+'!'.$!0+'!($)F+*'!R!,%&'!0+!
(1(+01&+!SE!̀ 0!I%.*!,)&<!/1+&!,+!&).5+%.D!'<?&%$1)'!
C%<$)?<)&)C12.+'!i'.$!86!%&'!mjE!Y$)/0OC+!\!2.1!
+'*!R!0?B1=C+!S!().$!0+'!<)&'*$.1$+!m!̀ 0!&+!(%$%|*$%1*!
B.O$+!$%1')&&%/0+!2.+!<G%2.+!'+<*+.$!?0%/)$+!'+'!
($)($+'!'<?&%$1)'!R!,%&'!')&!<)1&!SE!;A?*%1*!F%,1'!
0+!F)/!,.!;)CC1''%$1%*!B?&?$%0!,.!Y0%&!{!&+!I%.*310!
(%'!'+!$%(($)<G+$!%.F).$,AG.1!,.!;4[!m
B_H_! `0! I%.,$%1*! +&'.1*+! .&+! ($)<?,.$+!
,A?5%0.%=)&!2.1!&+!')1*!(%'!R!%.!,)1B*!C).100?!SE!
:+! <%0<.0! ?<)&)C12.+! +'*! +&! ($1&<1(+! .&! /)&!
<%&,1,%*>! C%1'! 10! +'*! R! G%'! /++&! SE! [+$%1*310!
$?%<=5?!2.A10!,+5$%1*!Q*$+!0.13CQC+!I)&,?!'.$!0+'!
/%'+'!%,%(*?+'!%.!<)&*+D*+E!W)&!'+.0+C+&*!+&!
*+$C+'!,+!<$)1''%&<+!?<)&)C12.+>!C%1'!%.''1!+&!
*+$C+'!,+!C?*G),+!+*!,+!5%0+.$'!&.C?$12.+'E!_&!
()1&*!+''+&=+0!'+0)&!C)1!'+$%1*!,A1&*$),.1$+!.&+!
<G$)&12.+!%&&.+00+!,+!R!<)z*!,+!$%$+*?!,+'!I)&,'!
(./01<'!S>! '+0)&! 0+'!($?<)&1'%=)&'!,+! 0A).5$%B+!
($?<1*?!,+!"66o!{!0@!+&<)$+>!<+-+!<G$)&12.+!'+$%1*!
@!,?*+$C1&+$!,%&'!.&+!1&'*%&<+!0%$B+!i0+!;4[!).!
.&+!%.*$+jE!c%1'!10!I%.,$%1*!%.''1!(%''+$!+&!$+5.+!
0+'! 5%0+.$'! ,+'! %.*$+'! (%$%CO*$+'! 1&*+$5+&%&*!
,%&'!0+!<%0<.0E
B_q_! s.%&*! %.! (%$*%B+! +&*$+! K&%&<+C+&*! (%$!
0A1C(P*!).!(%$! 0+! *%$1I>! 10! +'*!@!%(($?<1+$!%.!<%'!
(%$!(%'>!+&!I)&<=)&!,.!<%$%<*O$+!(0.'!).!C)1&'!
R!/1+&!(./01<!S!).!R!.'%B+!($15%=I!S>!C%1'!%.''1!
+&!I)&<=)&!,+!*).*+'!0+'!+D*+$&%01*?'!i()'1=5+'!
).!&?B%=5+'jE
B_p_! T+! (+&'+! 2.+! 0+! ($+C1+$! <$1*O$+! ,.! <%0<.0!
?<)&)C12.+! ().$! 0+! <G)1D! ,+'! ($)F+*'! (./01<'!
$+'*+! <+0.1! ,.! /?&?K<+! %<*.%01'?>! 2.A10! &+! I%.*!
(%'! I%1$+! (%''+$! @! 0%! *$%((+!().$! 0.1! './'=*.+$!
0+! <$1*O$+! ,+! 0%! $+&*%/101*?! K&%&<1O$+! ().$! 0+!
B+'=)&&%1$+E! ;+! '+<)&,! <$1*O$+! ,?*+$C1&+!
'+.0+C+&*>! '+0)&! C)1>! 0+'! 1&<1*%=)&'!
i'./5+&=)&'! ).! 0+! <%'! ?<G?%&*! *%D+'j! 2.A10! +'*!
F.'=K?!%.!$+B%$,!,+!0A1&*?$Q*!B?&?$%0!,+!C+-$+!
+&! (0%<+! ().$! 2.+! 0%! ,?<1'1)&! ,.! B+'=)&&%1$+!
<)�&<1,+! %5+<! 0A1&*?$Q*! B?&?$%0E! V1+&! +&*+&,.>!
10! +'*! ,A%.*%&*! (0.'! 1C(?$%=I! 2.+! 0+! /?&?K<+!
%<*.%01'?! ')1*! ,?*+$C1&?! '?$1+.'+C+&*>! '%&'!
*$.2.+$!0+'!(+$'(+<=5+'!,+!<$)1''%&<+>!+&!*+&%&*!
<)C(*+!<)$$+<*+C+&*!,+'!5$%1+'!+D*+$&%01*?'>!+*!
+&!1&*?B$%&*!0+!<)z*!'.'C+&=)&&?!,+!$%$+*?!,+'!
I)&,'!(./01<'E
!H"!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
B_I_! `&,?(+&,%&<+! ,+'! ?5%0.%=)&'E! T+!
(%$*%B+! 0A1,?+! 2.+! 0+'! ?5%0.%=)&'! ,)15+&*!
Q*$+! 1&').(q)&&%/0+'! ,)&<! &+! (%'! Q*$+! R!
1&<+'*.+.'+'! SE! T+! ($?IO$+$%1'! 2.A+00+'! $+0O5+&*!
,A.&+!R!C%B1'*$%*.$+!S!iB+&$+!;).$!,+'!<)C(*+'j!
2.+! ,A)$B%&1'C+'! ($15?'! ,)&*! 0%! C?*G),)0)B1+!
()'+$%!1&?51*%/0+C+&*!,+'!1&*+$$)B%=)&'E
B_\_'y'!/89:7/'z/s:>0?/::/'{
s.%&*! @! 0A%$B.C+&*! '+0)&! 0+2.+0! ,+'! ($)F+*'!
I.''+&*310'!&)&!$+&*%/0+'!)&*!0+!C?$1*+!,+!').*+&1$!
0%! ,+C%&,+! B0)/%0+! +&! (?$1),+! ,A1&'.y'%&<+!
,+! 0%! ,+C%&,+! ($15?+>! 10! %! '%! 5%0+.$>! C%1'!
@! <)&,1=)&! ,+! C+-$+! <+'! 1&5+'=''+C+&*'!
+&! $+B%$,! ,A%.*$+'! ()''1/0+'! \! _&15+$'1*?'>!
$+<G+$<G+! ,?5+0)((+C+&*>! $?1&,.'*$1%01'%=)&>!
<)&'*$.<=)&! ,+! 0)B+C+&*'! ')<1%.D>! $?&)5%=)&!
,+'!N)&+'!.$/%1&+'!'+&'1/0+'>!+*<E
NNN'F_',-(#'(# !(')de-6- '%*+,-6''( 'i"!-" -&#')(',"')( ('%*+,-.*(
:+! *+D*+! <13,+'').'! +'*! .&+! ,?C)&'*$%=)&!
?<)&)C12.+! ,.! 01+&! +&*$+! ! 0+! *%.D! ,+! ,?K<1*!
(./01<! +*! 0+! *%.D! ,+! <$)1''%&<+! ,+! 0%! ,+-+!
(./012.+!(%$!$%(()$*!%.!Y`V!E!`0!&A+'*!(%'!/+')1&!
,+! 0A?2.101/$+! /.,B?*%1$+! ().$! $?,.1$+! 0+! *%.D!
,+!,+-+!(./012.+!\!'1!<+!*%.D!+'*!,+!l6!v!+*! 0+!
*%.D!&)C1&%0!,+!<$)1''%&<+!,+!0A?<)&)C1+!+'*!,+!
8!v>!0+!,?K<1*!2.1!0%1''+!1&<G%&B?!0+!*%.D!,+!,+-+!
(./012.+!+'*!,A+&51$)&!">Z!v!{!'1!0+!*%.D!,+!,+-+!
(./012.+! +'*! (0.'! ?0+5?>! 0+! ,?K<1*! '*%/101'%&*! 0+!
*%.D!,+!,+-+!(./012.+!+'*!,A%.*%&*!(0.'!I)$*E!;+0%!
C)&*$+!%.''1!2.+!(0.'! 0+! *%.D!,+!<$)1''%&<+!,+!
0A?<)&)C1+!+'*!I%1/0+>!(0.'! 0A+M)$*!,+!$?')$(=)&!
,.!,?K<1*!(./01<!,)1*!Q*$+!1C()$*%&*E
OOO'"_')>A7?=';528?7'/='@93?9X<:'4/'89'4/c/';528?U5/]'/:'/53<0'7<539:=0'OOO
:A%&&?+! >! )&! ,?K&1*! 0+'! J.D! %&&.+0'! '.15%&*'>!
+D($1C?'!+&!+.$)'!<).$%&*'!\
! ! Y`V
" ! U?(+&'+'!(./012.+'
# ! ]+<+-+'!(./012.+'
$ ! U?K<1*!(./01<
;+!,?K<1*!+'*!<)C(*%/0+C+&*!?B%0!@!\!$ %&%" %'%#
U+(.1'!7poH>!)&!%!\!" %(%# !\!0+!,?K<1*!+'*!%1&'1!.&!
&)C/$+!()'1=IE
[)1*! ) '*" 0+! C)&*%&*! +&! +.$)'! <).$%&*'! ,+! 0%!
,+-+! (./012.+! i).! +&,+-+C+&*! (./01<j! %.!
87!,?<+C/$+!,+!0A%&&?+!i '*jE
[)1*! ) " 0+! C)&*%&*! +&! +.$)'! <).$%&*'! ,+! 0%!
,+-+! (./012.+! i).! +&,+-+C+&*! (./01<j! %.!
87!,?<+C/$+!,+!0A%&&?+!i jE
:%!5%$1%=)&!,+!0%!,+-+!(./012.+!i+&!+.$)'j!,A.&+!
%&&?+! @! 0A%.*$+! +'*! <)C(*%/0+C+&*! ?B%0+! %.!
,?K<1*!(./01<!i+&!+.$)'j!\
) %'%) '*%&%$ "%.*$+C+&*!,1*!\!) %&%) '*%+%$ ! i7j
)<:7'89'4/c/'/:'/53<0'95E1/:=/'4P5:/'9::>/'
053'8P95=3/'=9:='U5/'8/'4>A7?='/0=';<0?XW_
"5=3/1/:='4?=' u' 89'4/c/'/:'/53<'4?1?:5/'0?'/='
0/58/1/:='0?'8/'254E/='/0='/:'/Q7>4/:=_
OOO'+_')>A7?=';528?7'/='@93?9X<:'4/'89'4/c/'
;528?U5/]'/:'|'45'%-+':<1?:98'OOO
;)C(0?*)&'!0+'!,?K&1=)&'!,.!�4E
[)1*!, '*!0+!$%=)!,.!C)&*%&*!+&!+.$)'!<).$%&*'!
,+!0%!,+-+!(./012.+!i).!+&,+-+C+&*!(./01<j!%.!
87!,?<+C/$+!,+!0A%&&?+!i '*j>!$%(()$*?!%.!Y`V!
&)C1&%0!+&!+.$)'!<).$%&*'!,+!0A%&&?+!\
(%$!,?K&1=)&!\!, '*%&) '*
! '*>!
%.*$+C+&*!,1*!\!) '*!�!! '*-!, '*
[)1*!. %0+!$%=)!,.!C)&*%&*!+&!+.$)'!<).$%&*'!,.!
,?K<1*!(./01<!%.!<).$'!,+!0A%&&?+!i j>!$%(()$*?!%.!
Y`V!&)C1&%0!+&!+.$)'!<).$%&*'!,+!0A%&&?+!i j!\
(%$!,?K&1=)&!. %&$
! >
%.*$+C+&*!,1*!\!$ %&%! %-%.
[)1*! , % 0+! $%=)! ,.! C)&*%&*! +&! +.$)'! <).$%&*'!
0%! ,+-+! (./012.+! i).! +&,+-+C+&*! (./01<j! %.!
87! ,?<+C/$+! ,+! 0A%&&?+! i j>! $%(()$*?! %.! Y`V!
&)C1&%0!+&!+.$)'!<).$%&*'!,+!0A%&&?+!i j!\
(%$!,?K&1=)&!\!, %&)
! >!
%.*$+C+&*!,1*!\!) %&%! %-%, ! !
9&! $+()$*%&*! <+'! *$)1'! +D($+''1)&'! ,%&'!
0A+D($+''1)&! i7j! ,+! 0A+&<%,$?! ($?<?,+&*>! )&!
)/=+&*!\!! %-%, %&%! '*-!, '*%+%! %-%.
!H8!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
4((+0)&'!/ !0+!*%.D!,+!<$)1''%&<+!,.!Y`V!&)C1&%0!
,+!0A%&&?+! !(%$!$%(()$*!@!0A%&&?+!i '*j!+'*!\
/ %&! %'%! '*
! '*
>!%.*$+C+&*!,1*!\!! %&!! '*- !+%/ "
W)*%! \! / ! (+.*! '+! ,?<)C()'+$! +&! *%.D!
,+! <$)1''%&<+! /0 % ,.! Y`V! +&! 5)0.C+!
+*! *%.D! ,+! <$)1''%&<+! /1 % ,.! Y`VH! \
2*+/ 3%&%2*%+%/0 3-2*%+%/1 3!,A)�>!%5+<!.&+!/)&&+!
%(($)D1C%=)&!\!/ %&%/0 %+%/1
9&! 1&*$),.1'%&*! / % ,%&'! i"j>! )&! )/=+&*! %0)$'!
0A+D($+''1)&!'.15%&*+!\!, %&%, '*- +%. *
*%+%/
%.*$+C+&*!,1*!\!, %'%, '*&%. %' -%, '*/
*%+%/ ! i8j
)<:7' 89' 4/c/' /:' |' 45' %-+' 95E1/:=/' 4P5:/'9::>/'053'8P95=3/'=9:='U5/'u
. %4% -%, '*/
*%+%/ ! ! ! ! iZj
-%, '*/
*%+%/ !+'*!%((+0?!:?@/95'4/'4>A7?=';528?7!
i+&! v! ,.! Y`Vj! 0=92?8?09:=' 89' 4/c/' ;528?U5/!i+&!v!,.!Y`VjE
:%! $+0%=)&! i8j! 'A1&*+$($O*+! %1&'1! \! ,A.&+! %&&?+!
'.$! 0A%.*$+>! 0%! ,+-+! i+&!v!,.!Y`Vj! %.BC+&*+! '1!
0+!,?K<1*!(./01<! i+&!v!,.!Y`Vj!+'*! '.(?$1+.$!%.!
&15+%.!'*%/101'%&*!{!0%!,+-+!i+&!v!,.!Y`Vj!,1C1&.+!
'1!0+!,?K<1*!(./01<!i+&!v!,.!Y`Vj!+'*!1&I?$1+.$!%.!
&15+%.!'*%/101'%&*E
;+!&15+%.!'*%/101'%&*!+'*!;<0?XWE!`0!&A+'*!,)&<!(%'!1&,1'(+&'%/0+!2.+!0+!/.,B+*!')1*!+&!+D<?,+&*!().$!
I%1$+!,1C1&.+$!0%!,+-+!(./012.+!i+&!v!,.!Y`Vj!{!
.&!,?K<1*!/.,B?*%1$+!i+D($1C?!+&!v!,.!Y`Vj>!*%&*!
2.A10!+'*!1&I?$1+.$!%.!&15+%.!,+!'*%/101'%=)&>!+'*!
<)C(%=/0+!%5+<!.&+!<+$*%1&+!,1C1&.=)&!i<+$*+'!
(0.'!0+&*+!2.+!'1!0+!/.,B+*!?*%1*!+D<?,+&*%1$+j!,+!
0%!,+-+!(./012.+!i+D($1C?+!+&!v!,.!Y`VjE
:+!&15+%.!,+!,?K<1*!'*%/101'%&*!+'*!($)()$=)&&+0!
%.!$%=)!, '*!!,+!0%!,+-+!(./012.+!i%.!87!,?<+C/$+!
,+!0A%&&?+!'*>!+*!)&!C)&*$+!2.A10!+'*!,A%.*%&*!(0.'!
I)$*!2.+!0+!*%.D!,+!<$)1''%&<+!/ !,.!Y`V!&)C1&%0!
+'*!(0.'!?0+5?E
9D+C(0+!\!, '*!�!ol>7!v!{!/ %�!8>7!v!i$?'.0*%&*!(%$!
+D+C(0+!,+!/0 !�!7>n!v!+*!/1 !�!7>H!vj
U?K<1*!<$1=2.+!�!">8!v!,.!Y`V!&)C1&%0E
`!'./?&!"7"$("<!&)"!("</!'2M/!".<</$h2'.Q$("
+%/2/!" ,!" (2D!.&" #!" #+N%2)" *).12,2*.()" *$&*" ,."
:$/'!"*2'<,2N+!"#&"</$#&2)" w/ -, '*x9"u("$1Q!()"
.,$/*"X>_"Y";.&",2!&"#!"X>U"YC9
OOO'6_')>A7?=';528?7';3?19?3/'
/='4/c/';528?U5/'OOO
;)C(0?*)&'!0+'!,?K&1=)&'!,.!�4!+*!,.!�VE
[)1*! 567 ! 0+! C)&*%&*! +&! +.$)'! <).$%&*'! ,+'!
<G%$B+'!,A1&*?$Q*!(%L?+'!%.!<).$'!,+!0A%&&?+! !'.$!
0%!,+-+!(./012.+E
b&! %((+00+! 4>;/:0/0' ;528?U5/0' ;3?19?3/0! 0+'!
,?(+&'+'! (./012.+'! G)$'! <G%$B+'! ,A1&*?$Q*! \!!
"8 %&%" %'%567
:+!4>A7?=' ;3?19?3/! +'*! %0)$'! \!$8 % &% $ % '% 567 !!!
?2.15%0+&*!@!\!$ %&%$8 %+%567 ! ! iHj
:+'! <G%$B+'! ,A1&*?$Q*! $?'.0*+&*! ,+! 0A%((01<%=)&!
,+! *%.D! ,A1&*?$Q*'! %.D! ,1M?$+&*'! +C($.&*'! 2.1!
<)C()'+&*! 0%! ,+-+! (./012.+>! <+! 2.+! 0A)&! ?<$1*!
').'!0%!I)$C+!%B$?B?+!'.15%&*+n!\!567 %&%) '*-9
U%&'! <+-+! $+0%=)&>! ) '*% +'*>! <)CC+! ,?F@! ,1*>!
0%!,+-+!(./012.+!+&!+.$)'!%.!87!,?<+C/$+!,+!
0A%&&?+! i '*j!+*!9 ! +'*! 8/' =95Q'4P?:=>3}=':<1?:98'
1<s/:'053'89'4/c/E
;+!2.1!(+.*!%.''1!'A?<$1$+!\!567 %&%! '*%-%, '*%-%9
9&!,151'%&*! 0+'! ,+.D!C+C/$+'!,+! iHj! (%$!! %)&!
)/=+&*!0%!$+0%=)&!'.15%&*+!+&*$+!$%=)'!i&)*%=)&'!
?51,+&*+'j!\!. %&%.1 %+ -%, '*9
*%+%/
]+()$*)&'!,%&'!iZjE!`0!%((%$%1*!%0)$'!2.+!0%!4/c/'
/:'|'45'%-+'95E1/:=/'4P5:/'9::>/'053'8P95=3/'
=9:='U5/!\!.1 %4%.1 %+ -%, '*/ %'%9
*%+%/ ! ! iHj
-%, '*/ %'%9
*%+%/ !+'*!%((+0?!:?@/95'4/'4>A7?=';528?7!
;3?19?3/! i+&! v! ,.! Y`Vj! 0=92?8?09:=' 89' 4/c/'
;528?U5/'i+&!v!,.!Y`VjE
n"g!").&h"#!"%/$2**.(%!"#&"</2h"#&"S3T"<!&)"E)/!"#2j+/!()"#&").&h"#!"%/$2**.(%!"#!",=2(#2%!"#!*"</2h"G",."%$(*$''.Q$(>"($).''!()"!("%.*"#!"D./2.Q$("
#!*")!/'!*"#!",=+%-.(0!"!)"!("<./Q%&,2!/"#&").&h"#!"%-.(0!9\"u(":.2)"2%2".1*)/.%Q$("#!*"%$//!%Q$(*"/!,.QD!*".&h"@"2()+/E)*"%$&/&*"@"($("+%-&*9
!HZ!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
:%! $+0%=)&! iHj! 'A1&*+$($O*+! %1&'1! \! ,A.&+! %&&?+!
'.$!0A%.*$+>!0%!,+-+!i+&!v!,.!Y`Vj!%.BC+&*+!'1!0+!
,?K<1*!(./01<!($1C%1$+!i+&!v!,.!Y`Vj!+'*!'.(?$1+.$!
%.!&15+%.!($1C%1$+!'*%/101'%&*!{!0%!,+-+!i+&!v!,.!
Y`Vj!,1C1&.+!'1!0+!,?K<1*!(./01<!($1C%1$+!i+&!v!,.!
Y`Vj!+'*!1&I?$1+.$!%.!&15+%.!($1C%1$+!'*%/101'%&*E
;+! &15+%.! ($1C%1$+! '*%/101'%&*! +'*! ;<0?XW' 0?'/=' 0/58/1/:=' 0?' 8/' =95Q' 4/' 73<?009:7/' 45' %-+':<1?:98'/0='05;>3?/53'95'=95Q'4P?:=>3}=':<1?:98'1<s/:'4/'89'4/c/';528?U5/E!Y%$!<)&'?2.+&*!\
3! [1!/ % 4% 9 >! %0)$'! 10! &A+'*! (%'! 1&,1'(+&'%/0+! 2.+!
0+! /.,B+*! ($1C%1$+! ')1*! +&! +D<?,+&*! ().$! I%1$+!
,1C1&.+$!0+!$%=)!,+!0%!,+-+!(./012.+!{!.&!,?K<1*!
/.,B?*%1$+! ($1C%1$+! i+&! v! ,.! Y`Vj>! *%&*! 2.A10!
+'*! 1&I?$1+.$! %.! &15+%.! ($1C%1$+! '*%/101'%&*>! +'*!
<)C(%=/0+! %5+<! .&+! <+$*%1&+! ,1C1&.=)&! ,+! 0%!
,+-+!(./012.+!i+&!v!,.!Y`VjE
3!c%1'!'1!/ %:%9 !>!%0)$'!0+!&15+%.!($1C%1$+!'*%/101'%&*!
+'*!:>E9XWE!Y).$!I%1$+!,1C1&.+$!0%!,+-+!i+&!v!,.!
Y`Vj>!10!+'*!&?<+''%1$+!2.+!0+!,?K<1*!($1C%1$+!i+&!v!
,.!Y`Vj!')1*!1&I?$1+.$!@!<+!&15+%.!'*%/101'%&*>!<A+'*3
@3,1$+!2.+! 0+!/.,B+*!')1*!+&!/Q7>4/:=';3?19?3/!
i0+'!,?(+&'+'!($1C%1$+'!,)15+&*!Q*$+!1&I?$1+.$+'!
%.D!$+<+-+'!(./012.+'jE
`!'./?&!"7"$("<!&)"!("</!'2M/!".<</$h2'.Q$("
+%/2/!"%!"#+N%2)"</2'.2/!"*).12,2*.()"*$&*",.":$/'!"
*2'<,2N+!"#&"</$#&2)"w2/ %'%9 3-, '*x9
!HH!
#$%&'()$*!+*!,+-!+!(./012.+!!3!45$10!"67"
:+'! '<?&%$1)'! +D(0)$?'! ,%&'! <+! $%(()$*! '+!
*$%,.1'+&*! (%$! ,+'! ,1M!?$+&<+'! ,+! ,?(+&'+!
(./012.+! ().$! 0+'! *$%&'()$*'! 2.A10! +'*! .=!0+! ,+!
().5)1$! '1*.+$! (%$! $%(()$*! %.D! B$%&,'! +&F+.D!
,+! 0A+&,+-!+C+&*E! 4.! =!*$+! ,+'! +&B%B+C+&*'!
+.$)(?+&'!,.!(%L'!<)CC+!@!<+0.1!,+!0A%(($)<G+!
?<)&)C12.+!'*%&,%$,>!0A+&,+-!+C+&*!+'*!C+'.$?!
(%$!0+!()1,'!,+!0%!,+-!+!(./012.+!+&!v!,.!Y`VE
#+0! 2.+! ,?K!&1! %.! '+&'! ,+! c%%'*$1<G*>! <+! *%.D!
,A+&,+-!+C+&*! %! I$%&<G1! +&! "66l! 0+! '+.10! ,+'!
o6!v! ().$! 0A400+C%B&+! <)CC+! ().$! 0%! d$%&<+E!
[+0)&! 0+'! ,+$&1O$+'! ,)&&?+'! ,+! "677>! <+! *%.D!
?*%1*! ($)<G+! ,+! lH!v! +&! ]d4! +*! ,+! lo!v! ().$!
0%! d$%&<+E! #).*! &%*.$+00+C+&*! '+! ()'+! ,)&<! 0+!
($)/0OC+!,+!0%!C%|*$1'+!,+!<+*!+&,+-!+C+&*!+*>!
(0.'!($?<1'?C+&*>!,+'!<)&,1=!)&'!').'!0+'2.+00+'!
0%!,+-!+!+D($1C?+!+&!v!,.!Y`V!<+''+!,A%.BC+&*+$!
,A.&+!%&&?+!'.$!0A%.*$+E
OOO'.5/8'=95Q'4/'4>A'7?='W95=G?8'9c'/?:43/'l'OOO
;+'! <)&,1=!)&'! 1C(012.+&*! +&! ($+C1+$! 01+.! .&!
&15+%.!,+!,?K!<1*!(./01<!1&I?$1+.$!@!.&!<+$*%1&!'+.10!
2.1!<)$$+'()&,!@!.&!,?K!<1*!'*%/101'%&*>!%((+0?!<13
%($O'!,?K!<1*!<$.<1%0E!`0!,?(+&,!C?<%&12.+C+&*o!!
,.! *%.D! ,A+&,+-!+C+&*! ,+! 0A%&&?+! %&*?$1+.$+!
2.A10! 'A%B1*! ,+! &+! (%'! %<<$)|*$+! +*! ,.! *%.D! ,+!
<$)1''%&<+! &)C1&%0! ,+! 0A?<)&)C1+! i<$)1''%&<+!
$?+00+!(0.'! 1&J!%=!)&jE
!Hn!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
]"3,"!*)".2*+"#!"'$()/!/"?&!",!").&h"#=!(#!R!'!()", "#!",=.((+!" "#2'2(&!"*2".1 >",!"<$2#*"<$&/",=.((+!" "#&"#+N%2)"</2'.2/!"#.(*",!"S3T>"D+/2N!"7"
.1 %;% -%, '*/ %'%9 *%+%/
";$y"/ %!*)",!").&h"#!"%/$2**.(%!"#&"S3T"#!",=.((+!" %!)%9 %,!").&h"#=2()+/E)"'$i!("#!",."#!R!"G",=.((+!% C9
,/7=53/' 45' E39;S?U5/! \! ().$! .&! *%.D!
,A+&,+-+C+&*! (./01<! ,+! p6! v! i6>pj! +*! .&+!
<$)1''%&<+! &)C1&%0+! ,+! 8!v>! 0+! *%.D! ,+! ,?K<1*!
<$.<1%0!+'*!,+!">l!v!iJO<G+'!$).B+'jE
;+'! $+0%=)&'! +*! )$,$+'! ,+! B$%&,+.$! ')&*! @!
$%(($)<G+$! ,+'! +&B%B+C+&*'! +.$)(?+&'! ,+! 0%!
d$%&<+!%5+<!.&!)/F+<=I!,+!*%.D!,+!,?K<1*!(./01<!
,+!H>o!v!,.!Y`V!+&!"677!i10!%!?*?!($)/%/0+C+&*!
($)<G+!,+!H>Z!vj>!,+!Z>H!v!+&!"67"!+*!,+!8!v!
+&!"678E
!Ho!
#$%&'()$*!+*!,+-!+!(./012.+!!3!45$10!"67"
OOO' 95Q'4P/Q7>4/:=';3?19?3/'7357?98'W<:7X'<:'45'=95Q'4/'73<?009:7/'/='45'=95Q'4P/:4/c'/1/:=';<53'5:'=95Q'4P?:=>3}='1<s/:'4/'F'R'p'|'OOO
,/7=53/' 45' E39;S?U5/! \! Y).$! .&! *%.D! ,A1&*?$Q*!C)L+&!,+!8!v!+*!.&+!<$)1''%&<+!&)C1&%0+!@!.&!
*%.D!1,+&=!2.+!i/%'!,+!0%!J!O<G+!$).B+j>!0A+D<?,+&*!
($1C%1$+! (+.*! $+'*+$! &.0E! [1>! ().$! 0%! CQC+!
<$)1''%&<+! &)C1&%0+>! 0+! *%.D! ,A1&*?$Q*! C)L+&!
'A?0+5%1*! @! n! v! 10! I%.,$%1*! .&! *%.D! ,A+D<?,+&*!
($1C%1$+! ,A%.! C)1&'! ">o! v! iG%.*! ,+! 0%! J!O<G+!
$).B+j!')1*!HZ!C1001%$,'!@!*$).5+$E
V1+&! +&*+&,.>! <+'! GL()*GO'+'! '.$! 0+'! *%.D!
$+'*+&*!*$O'!%0?%*)1$+'>!C%1'!0+.$'!<)&'?2.+&<+'!
,?015$+&*!,+'!)$,$+'!,+!B$%&,+.$!'.$! 0+'!+M!)$*'!
2.1!().$$%1+&*!Q*$+!$+2.1'!+&!*+$C+'!,+!C%|*$1'+!
,+!,?K!<1*!).!,A)/01B%=!)&!,A+D<?,+&*'!($1C%1$+'E
OOO'6<:7850?<:'OOO
;+-!+!&)*+!&A%!,A%.*$+!)/F+*!2.+!,+!'1*.+$!<+!2.+!
().$$%1+&*! Q*$+! 0+'! <)&*$%1&*+'! ,+!K!&%&<+C+&*!
(./01<! +&! $+B%$,!,+'! '<?&%$1)'!,+!K!&%&<+C+&*!
(./01<!,.!'+<*+.$!,+'!*$%&'()$*'E!b&!().$$%1*!0%!
$?'.C+$! @! <+*! +M!+*! +&! .&! )$,$+! ,+! B$%&,+.$! \!
_&!%/%1''+C+&*!,.!,?K!<1*!,+'!<)C(*+'!(./01<'!
,+! 6>7! v! i).! .&! %<<$)1''+C+&*! ,+! 6>7! v! ,+!
0A+D<?,+&*! ($1C%1$+j! $+($?'+&*+! .&! +M!)$*! ,+!
0A)$,$+!,+!"!C1001%$,'E
!Hl!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
`+'i"S`fA=zuaa^>"S/$:!**!&/"+'+/2)!"G",=f(2D!/*2)+"#!"S./2*"{33
F_',"'6&# !-+* -&#')*'$(6 (*!')($' !"#$%&! $''f',"')( ('%*+,-.*(
:+! <%$%<*O$+! ,$%C%=2.+! ,+! 0A%C(0+.$! +*!
,+! 0A?5)0.=)&! 0%! ,+-+! (./012.+! I$%&q%1'+!
+'*! C%1&*+&%&*! +&K&! ?51,+&*! ().$! *).*! 0+!
C)&,+>!).!($+'2.+E!;+.D!2.1! 'A1&*?$+''+&*!%.D!
*$%&'()$*'! 'A1&*+$$)B+&*! *).*!&%*.$+00+C+&*! '.$!
0%!$+'()&'%/101*?!,+!0+.$!'+<*+.$!,%&'!0%!'1*.%=)&!
%<*.+00+! +*! ,%&'! 0%! '1*.%=)&! ($?51'1/0+E! ! ;+-+!
&)*+!+'*!.&!<)C(0?C+&*!@!0A?*.,+!($?(%$?+!(%$!
.&!B$).(+!,+!C+C/$+'!,.!;+$<0+!,+'!#$%&'()$*'E!
900+! +&! ,1MO$+! '.$! *$)1'! ()1&*'E! #).*! ,A%/)$,! 0%!
&)*+! +'*! 0%$B+C+&*! $?*$)'(+<=5+>! %0)$'! 2.+!
0A?*.,+! +'*! ($)'(+<=5+E! U+.D1OC+C+&*>! 0%!
&)*+! *$%&<G+! 0+!,?/%*!'.$! 0%!&%*.$+!,+'! 1C(P*'!
'(?<1K2.+'!'.$! 0+! *$%&'()$*! $).=+$! i#`;Y9>! *%D+!
'.$!0A%''.$%&<+!%.*)C)/10+>!*%D+!'.$!0+'!5)1*.$+'!
,+!')<1?*?>!+*<Ej>!+&!0+'!<)&'1,?$%&*!<)CC+!,+'!
$+<+-+'!(./012.+'!,+!0%!$).*+>!%0)$'!2.+!0A?*.,+!
?5%<.+!<+!,?/%*!+&!'+!I)<%01'%&*!'.$! 0A?5)0.=)&!
,1M?$+&=+00+!,+'!,1M?$+&*+'!,?(+&'+'!+*!$+<+-+'!
,.!'+<*+.$E!#$)1'1OC+C+&*>!<+-+!&)*+! 1&*$),.1*!
,+'!<)&'1,?$%=)&'!B?&?$%0+'!'.$!0%!').*+&%/101*?!
,+!0%!,+-+!,%&'!0+!'+<*+.$!,+'!*$%&'()$*'E
NNN'D_',P"M%,(*!')(',"')( (' !"#$%&! '(#'BCDC
Y).$!.&+!%&&?+!,)&&?+!i&j>!0%!<)&*$1/.=)&!,A.&!
'+<*+.$>! <)CC+! 0+! '+<*+.$! ,+'! *$%&'()$*'>! @! 0%!
,+-+!(./012.+! i�U9#&j!+'*!?B%0+!%.D!,?(+&'+'!
(./012.+'! /?&?K<1%&*! %.! '+<*+.$! iU9Y&j!C)1&'!
0+'! $+<+-+'! '(?<1K2.+'! <)&*$1/.?+'! (%$! 0+!
'+<*+.$!%.D!K&%&<+'!(./012.+'!i]9;&j!\
�U9#&!�!U9Y&!!3!]9;&! ! ! ! i7j
Y).$!C+-$+!+&!k.5$+!<+-+! I)$C.0+>! 10! I%.*!+&!
'(?<1K+$!0+!<G%C(>!+*!($?<1'+$!0+!'+&'!,+!0A%,F+<=I!
R!'(?<1K2.+!SE
6S91;0! u! :+! '+<*+.$!,+'! *$%&'()$*'! <)C($+&,!
0+! *$%&'()$*! $).=+$>! 0+! *$%&'()$*! I+$$)51%1$+>!
0+! *$%&'()$*! .$/%1&>! 0+! *$%&'()$*! %?$1+&>! 0+!
*$%&'()$*!J.51%0!+*!0+!*$%&'()$*!C%$1=C+E!b&!'+!
01C1*+$%!1<1>!%.!C)1&'!,%&'!.&!($+C1+$!*+C('!%.D!
*$)1'! ($+C1+$'! *L(+'! ,+! *$%&'()$*>! 2.1! ')&*>! ,+!
*$O'!0)1&>!<+.D!2.1!1C(%<*+&*!0+!(0.'!0+'!K&%&<+'!
(./012.+'E
:+'! <)C()'%&*'! ,.! '+<*+.$! ,+'! *$%&'()$*'!
@! <)&'1,?$+$! ')&*! 0+'! %,C1&1'*$%=)&'!
(./012.+'! i9*%*>! <)00+<=51*?'! *+$$1*)$1%0+'>!
%.*)$1*?'! )$B%&1'%*$1<+'>! +*! 0+'! +&*$+($1'+'!
2.A+00+'! <)&*$P0+&*! C%F)$1*%1$+C+&*>! <)CC+!
0%! [W;dE! :+! <G%C(! ,?/)$,+! ,)&<! 0%! &)=)&!
,A!R!%,C1&1'*$%=)&!S!,+!0%!<)C(*%/101*?!&%=)&%0+>!
+*! <)C($+&,! ,+'! +&=*?'! ,?K&1+'! <)CC+! ,+'!
+&*$+($1'+'E! b&! I+$%! <)CC+! '1! 0%! [W;d! I%1'%1*!
(%$=+! ,+'! %,C1&1'*$%=)&'>! +*! <)CC+! '1! '+'!
$+<+-+'! +*! '+'! ,?(+&'+'! '(?<1K2.+'! ?*%1+&*! 0+!
I%1*!,+'!%,C1&1'*$%=)&'E
b&!1B&)$+$%!0+'!,1'=&<=)&'!+&*$+!%,C1&1'*$%=)&'!
(./012.+'! <+&*$%0+'! i4Y_;j>! %,C1&1'*$%=)&'!
(./012.+'! 0)<%0+'! i4Y_:j! +*! +&*$+($1'+'!!
(./012.+'E!U.!()1&*!,+!5.+!,+!0%!,+-+!2.1!&).'!
1&*?$+''+!1<1>!<+'!,1'=&<=)&'!&A)&*!B.O$+!,A1&*?$Q*!
,.!I%1*!,+!0%!()$)'1*?!K&%&<1O$+!2.1!+D1'*+!+&*$+!
<+'! +&=*?'E! :+'! 4Y_:>! (%$! +D+C(0+>! =$+&*!
0A+''+&=+0! ,+! 0+.$'! $+'').$<+'! ,+'! './5+&=)&'!
2.+!0+.$!5+$'+&*!0+'!4Y_;!{!.&+!%.BC+&*%=)&!,+'!
,?(+&'+'!,+'!4Y_:!<$+.'+!0%!,+-+!(./012.+!%.''1!
'z$+C+&*! 2.A.&+! %.BC+&*%=)&! ,+'! ,?(+&'+'!
,+'! 4Y_;E! U+! 0%! CQC+! I%q)&>! '1! 0+'! ,?(+&'+'!
,A+&*$+=+&!,.!$?'+%.!I+$$)51%1$+!%.BC+&*+&*!i<+!
2.1!+'*!0+!<%'!%<*.+00+C+&*j!0+!I%1*!2.A+00+'!')1+&*!
K&%&<?+'!(%$!.&+!%.BC+&*%=)&!,+'!'./5+&=)&'!
,+! 0A9*%*! @!]dd!).!(%$!.&+!%.BC+&*%=)&!,+! 0%!
,+-+! ,+! ]dd! &+! <G%&B+! $1+&! @! 0A%C(0+.$! ,+!
0A+&,+-+C+&*!(./01<E!b&!&+!<G+$<G+$%!,)&<!(%'!
@!R!0)<%01'+$!S!0%!,+-+!,.!I+$$)51%1$+!\!().$!(%$=+>!
+00+!%((%$%|*!,%&'!0+'!<)C(*+'!,+!0%![W;d>!,%&'!
<+.D!,+!]dd>!,%&'!<+.D!,.
!Hp!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
&?<+''%1$+C+&*!0%!,+-+>!@!0%!C%$B+>!+&!<+!'+&'!
2.A.&+!,1C1&.=)&!,+!766!,+! 0%,1*+!'./5+&=)&!
,1C1&.+! 0+! ,?K<1*! u! +*! 0%! ,+-+! u! ,+! 766>! +*!
/1+&! +&*+&,.! 2.A.&+! %.BC+&*%=)&! ,+! <+-+!
'./5+&=)&!%.BC+&*+!(%$+100+C+&*!0%!,+-+E
:%! 2.+'=)&! ,+! '%5)1$! '1! +*! <)CC+&*! 0+'!
<)&<+''1)&'! %.*)$).=O$+'! i4/$%G%C! "677j!
,)15+&*!Q*$+!1&<0.'+'!,%&'!0+!<G%C(!,+!0A%&%0L'+!
C?$1*+!,AQ*$+!()'?+E!45%&*! 0+'!($15%='%=)&'>! 0%!
$?()&'+! %.$%1*! ?*?! <0%1$+C+&*! \! ).1E! 4($O'>! )&!
(+.*!(+&'+$!2.+!0%!5+&*+!%.D!+&<GO$+'!%!$?')0.!
0+!($)/0OC+>!+*!+M%<?!+&!2.+02.+!')$*+!0%!,+-+!
(./012.+!%M?$+&*+E
$;>7?AU5/! 3!:+'!%,C1&1'*$%=)&'!i%.!'+&'!'*$1<*j!
1&*+$51+&&+&*! ,%&'! *).'! 0+'! '+<*+.$'! ,+! 0%! 51+!
?<)&)C12.+! ,)C1&?'! (%$! ,+'! +&*$+($1'+'!
($15?+'E! 900+'! +&B%B+&*! ,+'! ,?(+&'+'>! (%$!
+D+C(0+!+&!C%=O$+!,A?,.<%=)&!).!,+!'?<.$1*?>!
2.1! ')&*!.=0+'!+*!CQC+!&?<+''%1$+'!@! 0A%<=51*?!
,+!<+'!+&*$+($1'+'E!900+'!($?0O5+&*!?B%0+C+&*!,+'!
1C(P*'>!<)CC+!0%!#h4>!0A1C(P*!'.$!0+'!/?&?K<+'>!
0+'! *%D+'! I)&<1O$+'>! 0+'! <)&*$1/.=)&'! ')<1%0+'j!
2.1! ')&*! +&! d$%&<+! *$O'! 0).$,'E! :+'! +&*$+($1'+'!
,.! '+<*+.$!,+'! *$%&'()$*'! ')&*! *$%1*?+'!<)CC+!
0+'! %.*$+'E! U%&'! 0A?5%0.%=)&! ,+'! ,?(+&'+'! +*!
,+'!$+<+-+'!(./012.+'!,.!*$%&'()$*>!)&!1B&)$+$%!
<+'!J.D!/%&%.D>!)$,1&%1$+'>!().$!&+!($+&,$+!+&!
<)C(*+! 2.+! <+.D! 2.1! ')&*! R! '(?<1K2.+'! S! %.!
'+<*+.$E!#%&*P*!10!'A%B1$%!,+!,?(+&'+'!).!,A1C(P*'!
2.1!&A+D1'*+&*!(%'!,%&'!0+'!%.*$+'!'+<*+.$'>!*%&*P*!
,+!<)&*$1/.=)&'!1C()'?+'!@!.&!*%.D!,1M?$+&*!,.!
*%.D!R!&)$C%0!SE!:)$'2.+!0+!*%.D!+'*!1&I?$1+.$!%.!
*%.D! &)$C%0>! )&! (%$0+$%! ,+! ,?(+&'+! K'<%0+! i0+!
C)*!@!0%!C),+!+'*!&1<G+!K'<%0+jE
:+! *%/0+%.! 7! ($?'+&*+! 0%! 5%$1%=)&! ,+! 0%! ,+-+!
(./012.+!+&B+&,$?+!(%$!0+!'+<*+.$!,+'!*$%&'()$*'!
+&!"676>!().$!0+'!*$)1'!').'3'+<*+.$'!<)&'1,?$?'E!
_&!')0,+!()'1=I!,?&)*+!.&+!%.BC+&*%=)&!,+!0%!
,+-+E!_&!')0,+!&?B%=I!'1B&1K+!%.!<)&*$%1$+!.&+!
<)&*$1/.=)&!@!0%!$?,.<=)&!,+!0%!,+-+E
#$)1'!()1&*'!$+'')$*+&*!I)$*+C+&*!,+!<+!*%/0+%.E!
:+! ($+C1+$! +'*! 2.+>! B0)/%0+C+&*>! 0+'! $+<+-+'!
(./012.+'! '(?<1K2.+'! ,.! *$%&'()$*! (O'+&*! .&!
(+.! (0.'! 0).$,! 2.+! 0+'! ,?(+&'+'! (./012.+'! ,.!
*$%&'()$*E!9&!"676>!0+'!*$%&'()$*'!&A)&*!,)&<!(%'!
<)&*$1/.?!@!0A%BB$%5%=)&!,+!0%!,+-+!,+!0%!d$%&<+E!
c%1'!<+!2.%'1!?2.101/$+!$%''.$%&*!+'*!*$)C(+.$>!
<%$!10!<%<G+!,+.D!$?%01*?'!/1+&!,1M?$+&*+'E
:A.&+! +'*! 2.+! 0+! *$%&'()$*! I+$$)51%1$+>! +*! @! .&!
C)1&,$+! ,+B$?! 0+'! *$%&'()$*'! <)00+<=I'! .$/%1&'!
i/.'>! *$%C�%L'>! C?*$)'j>! )&*! <$+.'?! 0+! ,?K<1*!
%&&.+0! +*! ,)&<! 0%! ,+-+! ,A+&51$)&! 7n! C1001%$,'!
,A+.$)'E!;+!<G1M$+!+'*!.&+!').'3+'=C%=)&>!<%$!10!&+!
($+&,!(%'!+&!<)C(*+!0+'!1&5+'=''+C+&*'!,+'!#;_!
,+!($)51&<+! i().$!.&!C)&*%&*! 1&<)&&.!,+!&).'>!
2.1!,)1*!,?(%''+$!0+!C1001%$,!,A+.$)'j>!(%'!(0.'!2.+!
0%! <)&*$1/.=)&! ,.! $?B1C+! B?&?$%0! ,+! 0%! '?<.$1*?!
OOO' 928/95'D'~'i93?9X<:'4/'89'4/c/'=39:0;<3=]'BCDC'i+&!C1001%$,'!,A+.$)'j'OOO
)>;/:0/0 !/7/c/0 $<84/'Z�)/c/[
#$%&'()$*!$).=+$ 7H>o% 8H>n/ 37p>p
#$%&'()$*!I+$$)51%1$+ "7>n< 76>", 77>Z
#$%&'()$*!<)00+<=I'!.$/%1& l>o+ 8>oI H>6
& ",' !"#$%&! $ Hp]C H^]q GF]q
5$&/%!*"7"f`6"XPZZ>"<<9"ZZX>"ZZU>"ZXP>"ZXZ"t" e4"XPZZ>")$'!"Z>"<9"]]"<$&/",!*")/.(*<$/)*"%$,,!%Q:*"
&/1.2(*>"i"%$'</2*"`JeS9
4$)!*"7
."A+<!(*!*"#!*".#'2(2*)/.Q$(*"<&1,2?&!*",$%.,!*"<$&/"Z_>\"c^>"!)"#!*".#'2(2*)/.Q$(*"<&1,2?&!*"%!()/.,!*"<$&/"X>["ck9
1"e3 S^";!h"e3SSC"!)"e|J"*&/"e3S ^"<$&/"XO>_"ck>"!)"-&2)".&)/!*").h!*"*<+%2N?&!*"<$&/"]>X"c^9
%"5.,.2/!*"!)"%-./0!*";]>O"ckC"m"%-./0!*"!h)!/(!*"!)".%-.)*";\>Z"ckC"m"2'<W)*"!)").h!*";P>["ckC"m"#+<!(*!"N*%.,!"</$D!(.()"#!"e|J"G").&h"/+#&2)";Z>_"
ckC"m"2(D!*Q**!'!()*";_>n"ckC9
#"`!%!R!*"%$''!/%2.,!*"#&")/.N%";]>]"ckC"!)"#!*".%QD2)+*".((!h!*";Z>_"ckC9
!"#$()"U>["ck"<$&/",!*"e f"#!"</$D2(%!";-$/*"2(D!*Q**!'!()*C"!)"_>]"ck"<$&/",."`JeS";i"%$'</2*"2(D!*Q**!'!()*C9
:"#$()"Z>X"ck"<$&/",!*"e f"#!"</$D2(%!"!)"X>n"<$&/",."`JeS9"g!*"#+<!(*!*"(=2(%,&!()"<.*",!*"2()+/E)*"<.i+*"*&/",."#!R!"t",!"*$,#!>",$/*?&=2,"!*)"&(!".&0I
'!().Q$("#!",."#!R!>"!*)"#$(%"&("*$,#!"@"</2'.2/!"B9
!n6!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
')<1%0+!%.D!<%1''+'!,+!$+*$%1*+!,+'!*$%5%100+.$'!,.!
I+$$)51%1$+!i().$!+&51$)&!8!C1001%$,'jE
:A%.*$+! +'*! 2.+! 0+! *$%&'()$*! $).=+$! +'*! %.!
<)&*$%1$+!.&+!+D<+00+&*+!%M%1$+!().$!0+'!K&%&<+'!
(./012.+'E! :+'! *%D+'! '(?<1K2.+! 2.1! B$O5+&*!
<+-+!I)$C+!,+!*$%&'()$*>!+*!&)*%CC+&*!0%!#`YY!
i$+/%(='?+! #`;Y9j! $%(()$*+&*! +&! +M+*! ($O'! ,+!
8n! C1001%$,'>! ,)&*! "o! ().$! 0%! '+.0+! #`YYE! ;A+'*!
"6!C1001%$,'!,+!(0.'!2.+!0+'!,?(+&'+'!(./012.+'!
<)&'+&=+'>! ($1&<1(%0+C+&*! (%$! 0+'! <)00+<=51*?'!
*+$$1*)$1%0+'! ,A%100+.$'>! ().$! $+&,$+! ()''1/0+! <+!
*L(+!,+!*$%&'()$*E!:%!2.+'=)&!,+!'%5)1$!'1!<+'!J.D!
')&*! F.'=K?'!).!&)&!&A+'*!(%'!,1'<.*?+!,%&'!<+!
(%$%B$%(G+!2.1!'+!01C1*+!@!?5%0.+$!0+.$!%C(0+.$E
U.! ()1&*! ,+! 5.+! ,+! ')&! 1C(%<*! '.$! 0%! ,+-+!
(./012.+! ,+! 0%! d$%&<+>! 0A%&&?+! "676! %3*3+00+!
?*?! .&+! %&&?+! +D<+(=)&&+00+! m! W)&E! :+'!
<G1M$+'! ,.! *%/0+%.! 7! ')&*! %.! <)&*$%1$+! %''+N!
$+($?'+&*%=I'! ,+! 0%! $?%01*?! ,+'! 51&B*! ).! *$+&*+!
%&&?+'!($?<?,+&*+'E!:%!<)&*$1/.=)&!,.!'+<*+.$!
,+'!*$%&'()$*'!@!0%!,+-+!%<*.+00+!,+!0%!d$%&<+!&+!
'A%(($?<1+!(%'!@!(%$=$!,A.&+!'+.0+!%&&?+>!C%1'!
$?'.0*+!,+!0A%,,1=)&!,+'!5%$1%=)&'!i()'1=5+'!).!
&?B%=5+'j! ,+! ,+-+! %&&.+00+'! ,+(.1'! %.! <).$'!
,+'!%&&?+'!(%''?+'E!9&!,A%.*$+'!*+$C+'>!0%!,+-+!
+'*! <.C.0%=5+E! c%1'! 2.1! ,1*! ,+-+! ,1*! ($Q*>! +*!
2.1!,1*!($Q*!,1*! 1&*?$Q*'E!;+!2.1!'+!<.C.0+!&A+'*!
(%'!'+.0+C+&*!0+'!5%$1%=)&'!%&&.+00+'!,+!,+-+>!
C%1'!<+'!5%$1%=)&'!%.BC+&*?+'!,+'!1&*?$Q*'!'.$!
0+!'*)<~!<$)1''%&*!,+!,+-+E!;A+'*!/1+&!%1&'1!2.+!
0Aby<+! I?,?$%0! [*%='=2.+! '.1''+! ($)<O,+! ().$!
?5%0.+$! 0+!<)z*!?<)&)C12.+!,.!I+$$)51%1$+!ibd[!
"66pjE! 45+<! $&! 0+! *%.D! ,A1&*?$Q*! ,+! 0A%&&?+! &>!
�U9#&! 0%!5%$1%=)&!,+!,+-+!%.!<).$'!,+!0A%&&?+!
&>!U9#&!0%!,+-+!,+!0A%&&?+!&!&A+'*!(%'!'+.0+C+&*!
?B%0+!@!�&!�U9#&>!C%1'!'A?<$1*!\
U9#&!�!U9#U&37�i7}$&j!}!�U9#&
Y).$! 0+! *$%&'()$*! $).=+$!+*! I+$$)51%1$+>!%1&'1!2.+!
().$! 0%! ]4#Y>! )&! ,1'()'+! ,+! '?$1+'! %&&.+00+'! ,+!
,?(+&'+'!+*!,+!$+<+-+'!($+'2.+!<)C(0O*+'!,+(.1'!
7pl6! i_]d!"677j!2.1!(+$C+-+&*!,+!<%0<.0+$!,+'!
'?$1+'!,+!�U9#&!().$!0+'!%&&?+'!&�7pl6!@!&�"676!
:+'! <G1M$+'! C%&2.%&*'>! $+0%=I'! @! <+$*%1&+'! ,+'!
%&&?+'!,+!0%!,?<+&&1+!7pl6>!)&*!?*?!1&*$%()0?'!).!
$?*$)()0?'E! Y).$! 0+'! *$%&'()$*'! <)00+<=I'! .$/%1&'!
,+!($)51&<+>!0+'!,)&&?+'!')&*!C)1&'!<)C(0O*+'!{!
().$! 0+'! %&&?+'! %&*?$1+.$+'! @! 7ppn>! )&! %! I%1*!
0AGL()*GO'+! u! <+$*%1&+C+&*! ,1'<.*%/0+! u! 2.+!
$+<+-+'!+*!,?(+&'+'!%.BC+&*%1+&*!<)CC+!<+00+'!
,+!0%!]4#YE!:+'!*$)1'!'?$1+'!KB.$+&*!,%&'!0+!*%/0+%.!
47!+&!%&&+D+E!:+'!,)&&?+'!')&*!+&!+.$)'!<).$%&*'E
Y).$!0+'!*%.D!,A1&*?$Q*!$&!0%!<)C(*%/101*?!&%=)&%0+!
,)&&+!@!0%!I)1'!().$!<G%<.&+!,+'!%&&?+'!&!0%!,+-+!
,+'!%,C1&1'*$%=)&'!(./012.+!+*!0+'!1&*?$Q*'!(%L?'!
(%$!0+'!%,C1&1'*$%=)&'!(./012.+'E!:+!$%(()$*!,+'!
1&*?$Q*'!,+!0A%&&?+!&!@!0A+&,+-+C+&*!,+!0A%&&?+!
&37!,)&&+!0+!*%.D!,A1&*?$Q*!+M+<=I!,+!0A%&&?+!&E
b&! '.(()'+$%! 2.+! 0+! 'L'*OC+! *$%&'()$*! &A?*%1*!
(%'! +&,+-?! +&! 7pl6>! +*! ,)&<! 2.+! ().$! &�7pl6>!
U9#&37! ?*%1*! ?B%0! @! N?$)E! ;+-+!GL()*GO'+! $+51+&*!
@! ').'3+'=C+$! 0%! ,+-+! i()'1=5+! ).! &?B%=5+j! ,+!
*).*+'!0+'!%&&?+'!()'*?$1+.$+'>!L!<)C($1'!0%!,+-+!
%<*.+00+E! c%1'! <+-+! ').'3+'=C%=)&! &A+'*! '%&'!
,).*+!(%'!<)&'1,?$%/0+!(%$<+!2.+!0+'!+D<?,+&*'!).!
0+'!,?K<1*'!,+'!%&&?+'!%&*?$1+.$+'!@!7pl6!&A?*%1+&*!
($)/%/0+C+&*!(%'!?&)$C+'E![1!0A)&!5+.*!'A+D($1C+$!
%5+<!(0.'!,+!$1B.+.$>!)&!,1$%!2.+!0%!,+-+!*$%&'()$*!
1<1!+D%C1&?+!+'*!0%!,+-+!%<<.C.0?+!%.!<).$'!,+!0%!
(?$1),+!7pl63"676!i(0.*P*!2.+! 0%!,+-+!*$%&'()$*!
+&!"676jE!:+'!$?'.0*%*'!%((%$%1''+&*!%.!*%/0+%.!"E
OOO' 928/95'B'~'6<:=3?25X<:'4/0'=39:0;<3=0'R'89'4/c/';528?U5/'4/'BCDC]';93'=s;/'4/'=39:0;<3=]'D^\CGBCDC'i+&!C1001%$,'!,A+.$)'j'OOO
#$%&'()$*!$).=+$ 3!7!7Z7
#$%&'()$*!I+$$)51%1$+ ZpZ
#$%&'()$*!<)00+<=I'!.$/%1& "76
& ",' !"#$%&! $ G'HFI
5$&/%!*"!)"($)!*"7"A=.</M*"#!*"#$((+!*".((&!,,!*"%$'<2,+!*"<./"
f`6"XPZZ"<$&/",!"/$&Q!/"!)",!":!//$D2.2/!9"S$&/",!*")/.(*<$/)*"
%$,,!%Q:*" &/1.2(*>" $(" ." %$(*)/&2)" &(!" *+/2!" !(" </!(.()" _Z"Y"
#!" ,." %$()/21&Q$(" #&" )/.(*<$/)" :!//$D2.2/!>" %!" ?&2" !*)" &(!"
!*Q'.Q$(" 0/$**2M/!9" g!" *20(!" b" #+($)!" &(!" %$()/21&Q$(" G"
,." #2'2(&Q$(" #!" ,." #!R!"<&1,2?&!" :/.(V.2*!>" ,!" *20(!" m" &(!"
%$()/21&Q$("G",=.&0'!().Q$("#!",."#!R!9
!n7!
#$%&'()$*!+*!,+-!+!(./012.+!!3!45$10!"67"
;+'! <G1M!$+'! ')&*! @! $%(($)<G+$! ,.! C)&*%&*! ,+!
0%!,+-!+!(./012.+!I$%&q%1'+!@!0%!K!&!,+!"676>!2.1!
'A?0+5%1*! @! 7n66! C1001%$,'! ,A+.$)'E! b&! 5)1*! 2.+!
B0)/%0+C+&*>! 0+'! *$%&'()$*'! +*! 0+'! ()01=!2.+'!
(./012.+'!,+!*$%&'()$*'>!)&*!%.!<).$'!,+'!*$+&*+!
%&&?+'!?<).0?+'>!<)&*$1/.?!@!$?,.1$+!0%!,+-!+!,+!
(0.'!,+!Z66!C1001%$,'E!9&!0A%/'+&<+!,+!*$%&'()$*'!
iGL()*GO'+!%''+N!%/'.$,+j>!).!%5+<!.&+!()01=!2.+!
,+'! *$%&'()$*'! K!'<%0+C+&*! &+.*$+! iGL()*GO'+!
.&! (+.! C)1&'! %/'.$,+! (.1'2.A+00+! <)$$+'()&,!
@! (+.! ($O'! @! 0%! '1*.%=!)&! ,A.&! (%L'! <)CC+! 0+'!
9*%*'3_&1'j>!0%!,+-!+!(./012.+!,+!0%!d$%&<+!'+$%1*!
K!&! "676>! *).*+'! <G)'+'! ?B%0+'! (%$! %100+.$'>! ,+!
"666!C1001%$,'E
;+-!+! <)&*$1/.=!)&! B0)/%0+C+&*! ()'1=!5+! <%<G+!
0%!<)&*$1/.=!)&!*$O'!()'1=!5+!,.!*$%&'()$*!$).=!+$!
+*! 0%! <)&*$1/.=!)&! *$O'! &?B%=!5+! ,.! *$%&'()$*!
I+$$)51%1$+E! a$�<+! ($1&<1(%0+C+&*! @! 0%! #`YY>! 0+!
*$%&'()$*! $).=!+$! %! $?,.1*! 0%! ,+-!+! ,+! ($O'! ,+!
7766!C1001%$,'E![1!<+-!+!<)&*$1/.=!)&!&A+D1'*%1*!(%'>!
0%!,+-!+!,+!0%!d$%&<+!'A?0O5+$%1*!@!"o66!C1001%$,'E
:+! *$%&'()$*! I+$$)51%1$+>! %.! <)&*$%1$+>! %! <$+.'?!
0%! ,+-!+! (./012.+! ,A+&51$)&! H66! C1001%$,'>!
<+! 2.1! $+($?'+&*+! (0.'! ,+! 86! v! ,+! 0%! ,+-!+!
(./012.+! ,+! 0%! d$%&<+E! :+'! <G1M!$+'! $+0%=!I'! %.D!
*$%&'()$*'! <)00+<=!I'! .$/%1&'! I)&*! %((%$%|*$+!
.&+! <)&*$1/.=!)&! @! 0%! ,+-!+! ,A.&! (+.! (0.'! ,+!
"66!C1001%$,'E!:%!()01=!2.+!,+'!<G+C1&'!,+!I+$!+*!
,.!*$%&'()$*!<)00+<=!I!.$/%1&!+D(012.+!@!+00+!'+.0+!
+&51$)&!o66!C1001%$,'>!(0.'!,+!Z6!v!,+! 0%!,+-!+!
(./012.+!I$%&q%1'+!%<*.+00+E
NNN'B_',"'.*",- d')(',"')( (' !"#$%&!
:%! R! ,+-!+! *$%&'()$*! S>! ).! (0.*P*! 0+'! ,+-!+'!
*$%&'()$*! 3! <+00+! ,.! $).=!+$! 2.1! $?,.1*! 0%! ,+-!+!
(./012.+! +*! <+00+! ,.! I+$$)51%1$+! 2.1! 0A%BB$%5+! u!
')&*! ,)&<! <)&'1,?$%/0+'E! c%1'! <+0%! &+! '1B&1K!+!
(%'!&?<+''%1$+C+&*!2.A+00+'!')&*!<)&,%C&%/0+'E!
:%!2.%01*?!,A.&+!,+-!+>!<A+'*3@3,1$+!'%!<%(%<1*?!@!
B?&?$+$!0+'!$+<+-!+'!2.1!0%!$+C/).$'+&*>!+*!@!'+!
').*+&1$>!+'*!+&!+M!+*!*$O'!5%$1%/0+!,A.&+!,+-!+!@!
.&+!%.*$+E
OOO' 39:0;<3='3<5X'/3'OOO
;)CC+&q)&'! (%$! 0%! <)&*$1/.=!)&! ,.! *$%&'()$*!
$).=!+$! @! 0%! ,+-!+E! :+'! 1C(P*'! (%L?'! %.D!
%,C1&1'*$%=!)&'! (%$! 0+! *$%&'()$*! $).=!+$! )&*!
<)&'*%CC+&*!?*?!(0.'!?0+5?'!2.+! 0+'!,?(+&'+'!
,+'! %,C1&1'*$%=!)&'! ().$! <+! CQC+! *$%&'()$*E!
d%.*310! 'A+&! 1&2.1?*+$>! ,A.&! ()1&*! ,+! 5.+!
?<)&)C12.+!+*!,A.&!()1&*!,+!5.+!')<1?*%0!m
UA.&!()1&*!,+!5.+!?<)&)C12.+!+*!K!'<%0>! 0%!'.$3
1C()'1=!)&! ,.! *$%&'()$*! $).=!+$! %! ().$! +M!+*!
,+!,?(0%<+$! 0%!<).$/+!,A)M!$+!b7! 5+$'! 0%!<).$/+!
b">! 0A?2.101/$+! ,+! 4! 5+$'! V>! ,A?0+5+$! 0+! ($1D! ,.!
*$%&'()$*!$).=!+$!,+!Y7!@!Y!+*!,)&<!,A+&!,1C1&.+$!
0%! 2.%&=!*?! <)&')CC?+! ,+!s7! @! s
">! <)CC+! 0+!
C)&*$+!0+!*$O'!<0%''12.+!'<G?C%!7E!900+!+&*$%1&+!
.&+!,)./0+!(+$*+!,A.=!01*?E
#).*! ,A%/)$,>! )&! %! .&+! (+$*+! ,+! '.$(0.'! 4V;E!
Y%$! %100+.$'>! 0A1C(P*! <)00+<*?! Y7Y"V;! &A+'*! +&!
($1&<1(+!(%'!.&+!(+$*+!,A.=!01*?!\!10!+'*!.&+!(+$*+!
().$!0+'!.=!01'%*+.$'!,.!*$%&'()$*!$).=!+$>!C%1'!0%!
,?(+&'+!(./012.+!2.A10!(+$C+*!+'*!.&!B%1&!().$!0%!
')<1?*?E!b&!+'=!C+!<+(+&,%&*!2.+!<+!B01''+C+&*!
+&B+&,$+!,+'!(+$*+'!,A+y!!<%<1*?>!?5%0.?+!@!86!vE
e?E53/'D'~'6<�='/:'2?/:G}=3/'4/'89'053=9Q9X'<:'3<5X't3/
:+! ()1&*! +''+&=!+0! +'*! 2.+! 0%! (+$*+! ,+! '.$(0.'!
4V;!+&B+&,$?+!(%$!0+'!1C(P*'!'(?<1K!2.+'!'.$!0+!
*$%&'()$*!$).=!+$!+'*!($)/%/0+C+&*!C)1&'!B$%&,+!
2.+! <+00+! 2.1! '+$%1*! +&B+&,$?+! (%$! 0%! (0.(%$*!
,+'!%.*$+'! 1C(P*'E!b&!,)1*! <+-!+!)/'+$5%=!)&!@!
]%C'+L>! ,%&'! 0+'! %&&?+'! 7p86E! ]%C'+L! ,?K!&1*!
0%! K!'<%01*?! )(=!C%0+! i10! &+! <)&'1,O$+! 2.+! 0%!
!"#$
%&
%'
&
&
($
)$$$$$$
!"#$%&'$
*+
'+
&
,
!n"!
#$%&'()$*!+*!,+-+!(./012.+!!3!45$10!"67"
K'<%01*?!'.$! 0%!<)&')CC%=)&j!<)CC+!<+00+!2.1!
C1&1C1'+! 0+'! (+$*+'! ,+! '.$(0.'E! 9*! 10! C)&*$+!
2.A+00+! +'*! %-+1&*+! 0)$'2.+! 0+! *%.D! ,+'! 1C(P*'!
'.$! 0+'! ,1M?$+&*'! ($),.1*'! +'*! 1&5+$'+C+&*!
($)()$=)&&+0! @! 0A?0%'=<1*?3($1D! ,+! 0%! ,+C%&,+!
,+'!($),.1*'pE!4.!$+B%$,!,+!<+-+!*G?)$1+>! 10!+'*!
,)&<! ,?'1$%/0+! 2.A.&! ($),.1*! @! 0%! ,+C%&,+!
*$O'!1&?0%'=2.+!<)CC+!0+!*$%&'()$*!$).=+$!')1*!
0).$,+C+&*! *%D?E! V+%.<).(! ,+! C1&1'*$+'! ,+'!
d1&%&<+'>!2.1!&A%5%1+&*!(%'!*).'!0.!]%C'+L>!')&*!
?B%0+C+&*! %$$15?'! @! <+-+! <)&<0.'1)&>! +*! 0A)&*!
C1'+!+&!k.5$+E
UA.&!()1&*!,+!5.+!')<1?*%0>!)&!(+.*!&)*+$!2.+!0+!
*$%&'()$*! $).=+$! ,)&&+! 01+.! @! ,+'! +D*+$&%01*?'!
i()00.=)&>! <)&B+'=)&>! %<<1,+&*'j! 2.A10! +'*!
,?'1$%/0+!,A1&*+$&%01'+$!%.!C)L+&!,A.&+!K'<%01*?!
'(?<1K2.+E! :%! 2.+'=)&! ,+! '%5)1$! '1! 0%! '.$3
*%D%=)&!%<*.+00+!+'*!/1+&!+&!*+$C+'!,A%''1+-+!0+!
/)&!C)L+&!,+! ($)<?,+$! @! <+-+! 1&*+$&%01'%=)&!
+'*!).5+$*+!i0%!$?()&'+!+'*!).1!().$!0%!()00.=)&>!
+*! &)&! ().$! 0%! <)&B+'=)&! +*! 0+'! %<<1,+&*'jE! :%!
2.+'=)&!,+!'%5)1$!'1!0+!&15+%.!,+!0%!'.$3K'<%01*?!
+'*!+&!01B&+!%5+<!0A%C(0+.$!,+!<+'!+D*+$&%01*?'!+'*!
?B%0+C+&*! ).5+$*+! i&)'! +'=C%=)&'! '.BBO$+&*!
2.+!&)&jE
OOO' 39:0;<3='W/33<@?9?3/'OOO
:%!()01=2.+!,.!*$%&'()$*!I+$$)51%1$+!%!I)$*+C+&*!
<)&*$1/.?!@!0%!,+-+!(./012.+!I$%&q%1'+E!9'*3<+!/)&!
).!C%.5%1'!().$!0%!d$%&<+!m!U+.D!)/'+$5%=)&'!
B?&?$%0+'!($?01C1&%1$+'!,A1C()'+&*E!:%!($+C1O$+!
+'*! 2.+! 0A+&,+-+C+&*! &A%! +&! ')1! $1+&! ,+!
<$1=2.%/0+E! W)C/$+.'+'! ')&*! 0+'! +&*$+($1'+'!
).! 0+'! &%=)&'! 2.1! )&*! /�=! 0+.$! ($)'(?$1*?! '.$!
0+.$! +&,+-+C+&*>! +&! (%$=<.01+$! +&! C%=O$+!
,A1&I$%'*$.<*.$+'E! ;)&'1,?$)&'! .&+! +&*$+($1'+!
2.1!'+!<$?+!+*!2.1!$?%01'+!.&!1&5+'=''+C+&*!0).$,E!
900+! +&B%B+!,+'!,?(+&'+'!2.1! ,%&'!.&!($+C1+$!
*+C('!&+!$%(()$*+&*!$1+&!,.!*).*!+*!<)CC+&<+!
,)&<!(%$!'A+&,+-+$E!:A1&5+'=''+C+&*!*+$C1&?>!'%!
C1'+!+&!k.5$+!5%!&)$C%0+C+&*!+&B+&,$+$!,+'!
$+<+-+'>! ').5+&*! <$)1''%&*+'E! [1! 0+'! ,?(+&'+'!
,+!I)&<=)&&+C+&*!')&*!C)1&'!?0+5?+'!2.+!<+'!
$+<+-+'>!0A+&*$+($1'+!5%!,?B%B+$!.&!/?&?K<+!2.1!
5%!(+$C+-$+!%.!K0!,.!*+C('!0+!,?'+&,+-+C+&*!
,+!0A+&*$+($1'+E!U+.D!+D+C(0+'!?51,+&*'!(+.5+&*!
Q*$+! <1*?E! 4! ,+.D! $+($1'+'>! 9Ud! %! +&B%B?! ,+'!
1&5+'=''+C+&*'! *$O'! 0).$,'! i,%&'! 0AGL,$%.012.+!
,%&'! 0+'! %&&?+'! 7pH6>! ,%&'! 0+! &.<0?%1$+! ,%&'!
0+'! %&&?+'! 7po6! +*! 7pl6j>! K&%&<?'! (%$! .&!
+&,+-+C+&*!*$O'!?0+5?>!2.1!%!+&'.1*+!?*?!$?')$/?!
(%$!0%!5+&*+!,A.&+!?0+<*$1<1*?!($),.1*+!@!.&!<)z*!
'.((0?C+&*%1$+!I%1/0+E!`0!+&!%!?*?!,+!CQC+!().$!
0+'! <)&<+''1)&'! %.*)$).=O$+'>! 2.1! )&*! +&B%B?!
,+'! 1&5+'=''+C+&*'! 1&1=%.D! <)&'1,?$%/0+'>!
K&%&<?'! (%$! ,+'! +C($.&*'! ?B%0+C+&*! *$O'!
?0+5?'>!2.1!)&*!B?&?$?!,+'!(?%B+'!'.y'%&*'!().$!
$?,.1$+!<+-+!,+-+!%.!K0!,+'!%&'E!:+'!1&2.1?*.,+'!
+D($1C?+'! (%$! 0%! ;).$! ,+'! ;)C(*+'>! 2.1! %! ,1D!
I)1'! I.'=B?! R! 0A+&,+-+C+&*! 1&').*+&%/0+! S!
,+'! <)&<+''1)&&%1$+'! %.*)$).=+$'! ?*%1+&*!
*)*%0+C+&*!1&I)&,?+'E
:%!,+.D1OC+!)/'+$5%=)&!+'*!2.+! 0A1&5+'=''+C+&*!
+&! 1&I$%'*$.<*.$+! K&%&<?! (%$! 0A+&,+-+C+&*!
&A+'*! (%'! &?<+''%1$+C+&*! ').G%1*%/0+E! :%! <G)'+!
+'*! ?51,+&*+>! +*! )&! &+! 0%! C+&=)&&+! 2.+! (%$<+!
2.A)&! +&*+&,! ).! 01*! *).'! 0+'! F).$'! 0+! <)&*$%1$+E! `0!
L! %! .&! CL*G+! ,+'! R! 1&5+'=''+C+&*'! ,A%5+&1$! S!
2.1! ,)&&+&*! %.! ()01=2.+! 2.1! 0+'! ,?<1,+! 0A1C%B+!
,A.&! 51'1)&&%1$+! ?<0%1$?! i%5+<! +&! ($1C+! .&! +M+*!
,+! $+0%&<+! ~+L&?'1+&&+jE! U+! /+%.D! +'($1*'! )&*!
?*?! F.'2.A@! $?<0%C+$! 2.+! <+'! 1&5+'=''+C+&*'>! +&!
(%$=<.01+$! 0+'! 1&5+'=''+C+&*'!,%&'! 0+'! *$%&'()$*'!
I+$$)51%1$+'>! ')1+&*! +D<0.'! ,+'! +'=C%=)&'! ,.!
C)&*%&*! ,+! 0A+&,+-+C+&*! ,.! (%L'! �! 9&! $?%01*?>!
)&! (+.*! B%'(100+$! 0A%$B+&*! (./01<! ,%&'! 0%! ,?(+&'+!
,A1&5+'=''+C+&*! %.''1! I%<10+C+&*! 2.+! ,%&'! 0%!
,?(+&'+! ,+! I)&<=)&&+C+&*>! +*! )&! &+! 'A+&! ($15+!
(%'E
b&!%!<)&'1,?$?!0+'!1&5+'=''+C+&*'!,+!*$%&'()$*!
iI+$$)51%1$+! +*! $).=+$j! ,A.&! ?<G%&=00)&! ,+! G.1*!
(%L'!+.$)(?+&'E!b&!%!I%1*!.&+!C)L+&&+!'.$!<1&2!
%&&?+'! ($1'+'! ,%&'! .&! (%''?! &1! *$)(! $?<+&*! &1!
*$)(! 0)1&*%1&! i"6663"66Zj>! +*! )&! 0A%! $%(()$*?+!
%.!Y`V!,+!0A%&&?+!C?,1%&+!i"66"jE!:+'!$?'.0*%*'>!
($?'+&*?'!%.!*%/0+%.!8>!')&*!I$%((%&*'E!:+'!2.%*$+!
(%L'! 2.1! )&*! 0+! (0.'! 1&5+'=!,%&'! 0+'! *$%&'()$*'!
')&*! 0+!Y)$*.B%0>! 0%!a$O<+>! 0A9'(%B&+>! +*! 0A`*%01+E!
;G%<.&! '%1*! /1+&! 2.+! <+! ')&*! 0+'! 2.%*$+! (%L'!
2.1! <)&&%1''+&*! %.F).$,AG.1! 0+'!(1$+'!,1y<.0*?'!
?<)&)C12.+'!,+! 0%! N)&+!+.$)>! +*!,)&*! 0%!,+-+!
').5+$%1&+!+'*!0%!C)1&'!/1+&!&)*?+!i,+!4!@!;;jE
["J</M*",."0&!//!>"a./%!,"T$2)!&h"/!#+%$&D/2/."%!")-+$/M'!"!("*!"#!'.(#.()"%$''!()")./2:!/",!*"#2j+/!()*")i<!*"#=+,!%)/2%2)+"t"
$("<./,!"#!")./2N%.Q$("G",."`.'*!iIT$2)!&h9
!n8!
#$%&'()$*!+*!,+-!+!(./012.+!!3!45$10!"67"
:A+&,+-!+C+&*!(+.*!,)&<!Q*$+!0%!C+100+.$+!).!0%!
(1$+! ,+'! <G)'+'>! '+0)&! 2.+! 0+'! 1&5+'=!''+C+&*'!
2.A10!K!&%&<+!B?&O$+&*!).!&)&!%''+N!,+!$+<+-!+'!
().$!0A+M!%<+$!,%&'!0+!C)L+&!).!0+!0)&B!*+$C+E!:%!
K!B.$+! "! '<G?C%=!'+! .&! +&,+-!+C+&*! 5+$*.+.D>!
2.1! 'A?01C1&+>! +*! .&! +&,+-!+C+&*! 51<1+.D>! 2.1!
'A%BB$%5+E! U%&'! 0+'! ,+.D! <%'>! )&! %! 0%! CQC+!
<).$/+!,+'!,?(+&'+'!4>!<%$%<*?$1'?+!(%$!.&!(1<!
1&1=!%0>! 2.1! <)$$+'()&,! @! 0A1&5+'=!''+C+&*>! '.151!
(%$!.&!(0%*+%.!/1+&!1&I?$1+.$!<)$$+'()&,%&*!%.D!
,?(+&'+'! ,+! I)&<=!)&&+C+&*E! U%&'! 0+! ($+C1+$!
<%'>!)&!%!.&+!<).$/+!,+'!$+<+-!+'!V7!
+&B+&,$?+'!(%$!0A1&5+'=!''+C+&*!{!
+00+'!&+!<)CC+&<+&*!2.+!0)$'2.+!
0A1&5+'=!''+C+&*! +'*! *+$C1&?! +*!
+&! ?*%*! ,+! I)&<=!)&&+$>! C)&*+&*!
$%(1,+C+&*! +&! (.1''%&<+>! +*!
,?(%''+&*!$%(1,+C+&*!0+!C)&*%&*!
,+'! ,?(+&'+'>! B?&?$%&*! 0+'!
($)K!*'! 2.1! 5)&*! (+$C+-!$+! ,+!
$+C/).$'+$! 0%! ,+-!+! <)&*$%<*?+!
,.$%&*! 0%! (?$1),+! 1&1=!%0+E! ;A+'*!
0A+&,+-!+C+&*! 5+$*.+.DE! U%&'! 0+!
,+.D1OC+!<%'>!)&!%!.&+!<).$/+!,+'!$+<+-!+'!V">!
2.1!%!0A%00.$+!,+!0%!<).$/+!V7>!C%1'!2.1!&+!<$)1'+!
F%C%1'!0%!<).$/+!4E!:+!'L'*OC+!&+!B?&O$+!2.+!,+'!
,?K!<1*'E! :A+&,+-!+C+&*! 'A%<<$)1*! 1&,?K!&1C+&*E!
;A+'*! 0A+&,+-!+C+&*! 51<1+.DE! :+! ($+C1+$! <%'!
<)$$+'()&,! ?51,+CC+&*! @! .&! 1&5+'=!''+C+&*!
,)&*!0+!#]`!+'*!0%$B+C+&*!()'1=!IE!:+!'+<)&,!@!.&!
1&5+'=!''+C+&*!&)&3$+&*%/0+E!:%!2.+'=!)&!+'*!,+!
'%5)1$! '1! 0A+&,+-!+C+&*! I+$$)51%1$+! +'*! 5+$*.+.D!
).!51<1+.DE!900+!%,C+*!(0.'1+.$'!$?()&'+'E
OOO' 928/95'F'~'-:@/0X'00/1/:=0'/:'=39:0;<3='/='U598?=>'4/'89'4/c'/'0<5@/39?:/'OOO
-:@='BCCCGBCCH.598?=>'4/c'/N%-+'BCCB
0<5@/39?:/'BCDB
Y)$*.B%0 7>op!v VV
a$O<+ 7>oH!v ;;
9'(%B&+ 7>""!v 4
`*%01+ 7>"7!v VVV}
e39:7/ D]Cp'| ""`
400+C%B&+ 6>pH!v 444
])L%.C+3_&1 6>lp!v 444
[.O,+ 6>lp!v 444
5$&/%!*"7"<$&/",!*"2(D!*Q"**!'!()*"7"3()!/(.Q"$(.,"e/.(*<$/)"6$/&'"t"<$&/",."?&.,2)+"#!",."#!R"!"
*$&D!/.2(!"7"5).(#./#"}"S$$/*9
!"#$%#%&#'&(#)#*#%&+$$,#--#%
!"#"$%&%'%(")*%+,-%-(%(.
!"#$%
&' ()$"*%"%
/"#"$%&%'%(")*0&0%-(%(."
!"#$%&'&(&)*+%,&%-%*.&/%$.#%#0&%.&%*+%,&%-%*.&/!1!%#0
!" #$%&'(" (!)&*#(" +," -$,!.(" !%#/(" 0%$/!,',!#"
1123"4&*)"+()"#$%*)"5,6)"+()"7%*!)"#%&.8/)"5,$"+,"
.$*)(" 9&(" )%!#" +:1++(7,;!(<" +(" =%6,&7(>?!*<" (#"
+," @&A0(<" %&" (!" #%&#" .,)" 9&*" B/!/C".*(!#" 0:&!("
0(D"(" )%&'($,*!(" !%#/(" 1113" ?!(" $(+,E"%!" )&$"
8&*#" 5%*!#)"5%&$"&!"58/!%7A!("7&+E"" .,&),+" ,"
/'*0(77(!#"&!("F%$.("0/7%!)#$,E"'("F,*B+(3"G++("
0%!!("!/,!7%*!)" H" $/I"/.8*$<" (#"7%!#$("H" #%&#"
+("7%*!)"9&("+:*!'()E"))(7(!#"(!"#$,!)5%$#"!:()#"
!*" &!(" .%!0*E"%!" !/.()),*$(" !*" &!(" .%!0*E"%!"
)&J""),!#(3
KKK"LM"KKK
N$,!)5%$#"(#"0(D("5&B+*9&("">"1'$*+"OPQO
!" 5(&#" 0:,B%$0" 0%!!($" &!(" $/5%!)("
C!,!.*A$(3" R:(S,7(!" 0()" .8*T$()" 7%!#$(" 9&("
+(" F($$%'*,*$(" ()#" (!" -$,!.(" (S,.#(7(!#" 0,!)"
+(" .,)" 0(" +:(!0(D(7(!#" '*.*(&S3" 4(!0,!#" #%&#("
+," 5/$*%0(" QUVP>OPQP<" +()" $(.(D()" )%!#" B*(!"
*!F/$*(&$()" ,&S" 0/5(!)()3" G++()" )%!#" 7W7("
.%!)#,77(!#" *!F/$*(&$()" ,&S" )(&+()" 0/5(!)()"
0(" F%!.E%!!(7(!#3" R(" #,&S" 0(" .%&'($#&$(" 0()"
0/5(!)()" 0(" F%!.E%!!(7(!#" 5,$" +()" $(.(D()<"
9&*"/#,*#"0("XP"Y"(!"QUVP<"0/.+*!("0:&!(" F,Z%!"
H" 5(&" 5$A)" .%!E!&(<" (#" ,D(*!#" LP" Y" (!" OPQP3"
R()" *!'()E))(7(!#)"$/,+*)/)<"9&*"$(5$/)(!#,*(!#"
(!'*$%!"O["Y"0()"$(.(D()",&"0/B&#"0()",!!/()"
QUVP" %!#" (&" B(,&" ,&;7(!#($" \*+)" %!#" 0/5,))/"
[[" Y" 0,!)" +()" ,!!/()" QUUQ>U]<" (#" ,D(*;!(!#"
,&^%&$0:8&*"(!'*$%!"M["Y_<"*+)"%!#".%75+A#(7(!#"
/.8%&/"H",&;7(!#($" +(" #,&S"0(".%&'($#&$("0()"
)(&+()" 0/5(!)()" 0(" F%!.E%!!(7(!#" 5,$" +()"
$(.(D()<"(#","F%$E%$*".(+&*"0()"0/5(!)()"#%#,+()3"
R(" )6)#A7(" F($$%'*,*$(" F$,!Z,*)" ()#" 0%!." 0,!)"
&!("*75,))("H"+,";$(.9&(3"`+"!(")(")%&E(!#"9&("
;$a.(" H"&!" $(.%&$)" .%!)#,!#" H" +," )&B'(!E%!"(#"
H"+:(!0(D(7(!#<".:()#>H>0*$("H"+:,&;7(!#,E%!"0("
+:(!0(D(7(!#"0()",07*!*)#$,E%!)3
4(&#>%!" 0%!!($" &!(" $/5%!)(" /.%!%7*9&("
0*T/$(!#("b" !"5(&#"(!"(T(#"(!"#8/%$*("*7,;*!($"
9&("+("0/'(+%55(7(!#"0&"F($$%'*,*$("(!#$,c!("&!"
0/'(+%55(7(!#"0&"B*(!>W#$("%&"0(" +:/.%!%7*(<"
9&*" ;/!A$(" H" )%!" #%&$" 0()" $(.(D()" C).,+()<"
.%!#$*B&,!#" ,*!)*" *!0*$(.#(7(!#" H" $/0&*$(" +,"
0(D("5&B+*9&("0:&!("F,Z%!"!%!"5$*)("(!".%75#("
0,!)" +()" .,+.&+)" (T(.#&/)3" `+" 6" ," .($#,*!(7(!#"
0()" &),;($)" \7/!,;()" (#" (!#$(5$*)()_" 9&*" )%!#"
5$W#)" H" 5,6($" Q[P" +(" B*++(#" %&" +(" #$,!)5%$#" 0("
7,$.8,!0*)()" 9&:%!" +(&$" F,.#&$(" QPP<" (#" 9&*"
B/!/C.*(!#" ,*!)*" 0:&!" )&$5+&)" d" 9&*" !:,55,$,c#"
5,)" 0,!)" +," .%+%!!(" e" $(.(D()" f" 0&" #$,!)5%$#"
F($$%'*,*$(3"107(D%!)" >" ;/!/$(&)(7(!#" >" 5%&$"
CS($" +()" *0/()<"9&(".(" )&$5+&)" $(5$/)(!#("[P"Y"
0()" $(.(D()<" )%*#" ["7*++*,$0)" (!" OPQP3" !"5(&#"
.(5(!0,!#"F,*$("#$%*)"%B)($',E%!)3
R," 5$(7*A$(" ()#" 9&(" .(" )&$5+&)" )(" $/0&*#" ,'(."
+(" 5($F(.E%!!(7(!#" 0(" +," #,$*C.,E%!3" R(" 6*(+0"
7,!,;(7(!#" ()#" &!" 7,!;(&$" 0(" )&$5+&)3" g:()#"
7W7("),"^&)EC.,E%!3"107(D%!)"9&("+,"7%*E/"0&"
)&$5+&)"5%#(!E(+"()#",*!)*"*!.%$5%$/("0,!)"+()"#,$*F)3"
h%*+H"9&*"$/0&*#"+(")&$5+&)"(T(.EF"H"O<["7*++*,$0)3
R," )(.%!0("%B)($',E%!"()#"9&(".(" )&$5+&)"!:()#"
5,)" #%#,+(7(!#" ,))*7*+,B+(" H" 0&" 4`i3" `+" .%!)*)#("
5$*!.*5,+(7(!#"(!";,*!)"0("#(75)3"?!("5,$E("0("
.()";,*!)"0("#(75)<".(++("9&*".%$$()5%!0",&S";,*!)"
0("#(75)"0()"5($)%!!()"9&*")("0/5+,.(!#"5%&$"+(&$"
#$,',*+<"5(&#"),!)"0%&#("W#$(",))*7*+/("H"0()";,*!)"
0("4`i3"g(D("5,$E("()#"H"5(&"5$A)".($#,*!(7(!#"
7*!%$*#,*$(3"@&55%)%!)<"#%&^%&$)";/!/$(&)(7(!#"
9&:(++("$(5$/)(!#("+()"OK["0&")&$5+&)3"R(";,*!"0("
4`i")($,*#",+%$)"0("Q"7*++*,$0"0:(&$%3
R," #$%*)*A7(" %B)($',E%!" ()#" 9&:&!("
,&;7(!#,E%!"0&"4`i"0("Q"7*++*,$0"(!;(!0$("0()"
$(.(D()"C).,+()" *!F/$*(&$()" H" [P"Y<" .:()#>H>0*$("
(!"+:()5A.("H"P<["7*++*,$03
R," 5$*)(" (!" .%75#(" 0()" $(#%7B/()" C).,+()"
*!0*$(.#()" 0&" F($$%'*,*$(" !:,&;7(!#($,*#"
9&(" F,*B+(7(!#" +(" 4`i" (#" +()" $(.(D()"
C).,+()" )5/.*C9&()3" G++(" !(" .8,!;($,*#" 5,)"
)*;!*C.,E'(7(!#" +()" .%!.+&)*%!)" 0(" +:,!,+6)("
5&$(7(!#"C).,+(".*>0())&)3
R()"0%!!/()"7,!9&(!#"5%&$".%!0&*$("+,"7W7("
,!,+6)(" ,'(." +(" #$,!)5%$#" 5&B+*." &$B,*!3" `+" 6" ,"
0()" $,*)%!)" 0(" 5(!)($" 9&(" +()" 7W7()" .,&)()"
5$%0&*$,*(!#"5%&$"+:())(!E(+"+()"7W7()"(T(#)3" !"
0%*#".(5(!0,!#"!%#($"9&("0,!)"+()"#$A)";$,!0()"
,;;+%7/$,E%!)<"(#"!%#,77(!#"(!"`+(>0(>-$,!.(<"
+:(S*)#(!.("0:&!"B%!")6)#A7("0("#$,!)5%$#"5&B+*."
," 5%&$" (T(#" 0:,&;7(!#($" +," #,*++(" (T(.E'(" 0&"
7,$.8/" 0(" +:(75+%*<" (#" 0%!." +," 5$%0&.E'*#/"
0(" .()" ,;;+%7/$,E%!)3" R()" #$,!)5%$#)" 5&B+*.)"
.$/(!#" 0%!." &!(" (S#($!,+*#/" 0:,;;+%7/$,E%!<"
9&*" )(" #$,0&*#" 5,$" &!(" ,&;7(!#,E%!" 0&" 4`i"
0(" .()" '*++()<" 9&*" (!;(!0$(" (++(>7W7(" 0()"
,&;7(!#,E%!)" 0(" $(.(D()" C).,+()" ;+%B,+()3" `+"
()#"#$A)"0*J.*+("0(".8*T$($"5$/.*)/7(!#".(#"(T(#<"
7,*)"%!"!("5(&#"5,)"(S.+&$("9&:*+")%*#"*75%$#,!#<"
!%#,77(!#"0,!)"+:,;;+%7/$,E%!"5,$*)*(!!(3
G!".%!.+&)*%!<"%!"5(&#"F%$7&+($"#$%*)"$(7,$9&()3"
R,"5$(7*A$("()#"9&("+,".%!#$*B&E%!"0&")(.#(&$"0()"
#$,!)5%$#)"H"+:,&;7(!#,E%!"%&"H"+,"0*7*!&E%!"0("
+,"0(D("5&B+*9&("0("+,"-$,!.(","/#/"d"(#".%!E!&("
0:W#$("d".%!)*0/$,B+(3"R,")(.%!0("()#"9&(".(D("
.%!#$*B&E%!"()#"#$A)".%!#$,)#/(")(+%!"+("7%0("j"
+(" F($$%'*,*$(" ,&;7(!#(" +," 0(D(<" +(" $%&E($" +,"
0*7*!&(3" R," #$%*)*A7(" ()#" 9&:*+" ()#" #$A)" 0*J.*+("
0(" 5($.('%*$" +," 0(D(" F($$%'*,*$(" .%77(" &!("
0(D(" '($#&(&)(<" C!,!Z,!#" 0()" *!'()E))(7(!#)"
KKK"L["KKK
N$,!)5%$#"(#"0(D("5&B+*9&("">"1'$*+"OPQO
9&*" '%!#" 5$%0&*$(" 0()" $())%&$.()" 5($7(D,!#"
0(" 5,6($" e" *!#/$W#" (#" 5$*!.*5,+" f" .%77(" 0*),*#"
+,".*;,+(3"g(+,"()#"/'*0(!#"(!"#($7()"C!,!.*($)<"
(#" #$A)" 5$%B,B+(" (!" #($7()" /.%!%7*9&()3" i*(!"
(!#(!0&<" *+" !:6" ," 5,)" 9&(" +()" .%!)*0/$,E%!)"
C!,!.*A$()<" !*" 7W7(" 9&(" +()" .%!)*0/$,E%!)"
/.%!%7*9&()<" 9&*" .%75#(!#" 0,!)" +," '*(" 0:&!("
!,E%!3" R()" .%!)*0/$,E%!)" (!'*$%!!(7(!#,+()<"
$(0*)#$*B&E%!!(++()<" *!0&)#$*(++()<" (#.3" 0%*'(!#"
/;,+(7(!#" W#$(" 5$*)()" (!" .%75#(" 0,!)" +,"
0/C!*E%!" 0()" 5%+*E9&()" 0(" #$,!)5%$#3" k,*)"
0,!)" +,".%!^%!.#&$(",.#&(++(<" +()".%!)*0/$,E%!)"
C!,!.*A$()"!("5(&'(!#"5+&)"W#$("*;!%$/()3
222&3454$%*1%6&222
1B$,8,7<" g+,&0(3" OPQQ3" R()" 1&#%$%&#()"
.%!./0/()"(!"-$,!.("QU[[>OPQP3"g(+.(3"QVM"53
glmm"\g%77*)),$*,#"l/!/$,+",&"m/'(+%55(7(!#"
0&$,B+(_3" OPQQ3" R()"g%75#()"0()" #$,!)5%$#)" (!"
OPQP"\#%7("Q<"MVA7("=,55%$#"H"+,"g%77*))*%!"
0()".%75#()"0()"#$,!)5%$#)"0("+,"!,E%!_3"QL[53
J.("F/0/$,+"0("@#,E)E9&("n0("@&*))(o3"OPPU3"R("
.%75#("F($$%'*,*$(")&*))("OPPX3"QM53
?=-3" OPQQ3" -,*#)" (#" g8*T$()" d" @#,E)E9&()" 0()"
#$,!)5%$#)"(!"-$,!.("(#"(!"G&$%5(3"QOV53
KKK"LL"KKK
N$,!)5%$#"(#"0(D("5&B+*9&("">"1'$*+"OPQO
!"#$%&'()*+,-./.01)2#34#2!56)34#46"()7!8)9&#:8)!:);<"5884!8)<&#&6"26!
=!6#"67)>?/@AB,%%1)@#89!;:!56)34#46"()7!)(C?D529!E!#:)<&#&6"26!
78&)9:;<:=>?@&A)B&C3?D)=B&AE>@ 3:B=3<F=<3)B&&A)&=3:@BC?3=
R,"R%*"0:%$*(!#,E%!"0()"#$,!)5%$#)"(#")()"#(S#()"
0:,55+*.,E%!" %B+*;(!#" +()" 7,c#$()" 0:%&'$,;(" H"
*!.+&$("0,!)"+("0%))*($"0:(!9&W#("0:&E+*#/"5&B+*9&("
0()" %5/$,E%!)" 0(" 5+&)" 0(" V]"kp" $/,+*)/()" %&"
,*0/()"5,$"+:G#,#<"&!("/',+&,E%!"0("+,""$(!#,B*+*#/"
/.%!%7*9&(<")%.*,+("(#"(!'*$%!!(7(!#,+(" "5&*)"
H" 5$/)(!#($" ]" H" [" ,!)" ,5$A)" +,"7*)(" (!" )($'*.("
&!"B*+,!"(S>5%)#3R,"7/#8%0%+%;*(<"5$().$*#("0,!)"
0()".*$.&+,*$()")&..())*'()<""()#"0('(!&("0("5+&)"
(!" 5+&)" )%58*)E9&/(" (#" 5(&#" W#$(" .%!)*0/$/("
.%77(",))(q"B*(!",&"5%*!#3
@%!" ,55+*.,E%!" )(" 8(&$#(" #%&#(F%*)" H" 0(" B*(!"
!%7B$(&S" %B)#,.+()" 9&:*+" F,&0$," )&$7%!#($"
5%&$" 9&(" +()" 0/.*)*%!)" 0(" $/,+*),E%!" 0:&!("
*!F$,)#$&.#&$(" !%&'(++(" E(!!(!#" .%75#(" 0:&!("
,!,+6)("%B^(.E'("0(")%!""(J.,.*#/"$,55%$#/("H"
)%!".%r#"j
s"" 7*))*%!"#$A)""F$/9&(!#(""0("+:,!,+6)(""\5%&$#,!#"
5$/'&("5,$" +()"#(S#()_"0(" +:*75,.#"0()"5$%^(#)"
)&$" +()" C!,!.()" 5&B+*.)<" 0(" +(&$" F,*),B*+*#/" (#"
0(""+(&$"$(!#,B*+*#/"C!,!.*A$(",+%$)"7W7("9&("
+("7&$"0("+,"0(D("5&B+*9&("()#"0(',!#"!%&)"(#"
9&("+:,$;(!#"5&B+*.")($,"0("5+&)"(!"5+&)"$,$("(#"
0('$,"0%!."W#$("&E+*)/"+("7*(&S"5%))*B+(3
s""1B)(!.(" 0(" #%&#()" $A;+()" 7/#8%0%+%;*9&()"
):*75%),!#"5%&$"+:/',+&,E%!"0()""*!'()E))(7(!#)"
0("#$,!)5%$#)"$/,+*)/)"5,$"+()".%++(.E'*#/)"+%.,+()"
%&"5%&$"+(&$".%75#("%&",'(."+(&$".%!#$*B&E%!"
C!,!.*A$(<",+%$)"7W7("9&(".()"*!'()E))(7(!#)"
$(5$/)(!#(!#" 0/)%$7,*)" +,"7,^(&$(" 5,$E(" 0()"
*!'()E))(7(!#)"0,!)"+()"#$,!)5%$#)3
s""R," 5%$#/(" ^&$*0*9&(7(!#" (#" 5%+*E9&(7(!#"
+*7*#/(" 0()" $A;+()" 0:/',+&,E%!" \)*75+()"
*!)#$&.E%!)" 7*!*)#/$*(++()" !(" $(5%),!#" 0%!."
5,)")&$"0()"0*)5%)*E%!)"0:%$0$("$/;+(7(!#,*$()"
,0%5#/()" 0,!)" +(" .,0$(" *!#($7*!*)#/$*(+" 9&*"
()#"5%&$#,!#" +(".,0$("!,#&$(+"0:(S,7(!"0(".()"
5$%^(#)_3
s""4($F(.E%!!*)7(" (S.())*F" )(" #$,0&*),!#" 5,$"
+," $(.8($.8(" 0(" 7/#8%0()" #%&^%&$)" 5+&)"
)%58*)E9&/()" 7,*)" 0(" 7%*!)" (!" 7%*!)"
$*;%&$(&)(7(!#" ,55+*9&/()3" N$%5" 0:/!($;*("
.%!)%77/(" H" ,7/+*%$($" +()" $A;+()" (S*)#,!#()""
\9&*D(" H" 0/!*;$($" +()" *!)&J),!.()" $/(++()" %&"
)&55%)/()" 0(" .(++()" 9&*" (S*)#(!#_" t" 5,)" ,))(q"
0:/!($;*(" (#" 0(" .%!)#,!.(" 5%&$" '(*++($" H" +(&$"
,55+*.,E%!")6)#/7,E9&(3
s""u&($(++()" 0:(S5($#)" *75$%0&.E'()" 9&,!#" H"
+,"5%$#/("0()" $/)&+#,#)"0()"/#&0()" \+(" $v+("0&"
N=`" 5,$" (S(75+(_<" +," 5+,.(" $(+,E'(" 0&" .,+.&+"
/.%!%7*9&(" (#" 0(" +:,!,+6)(" 7&E>.$*#A$()"
\5%&$#,!#"/'*0(7(!#".%75+/7(!#,*$()_<"9&,!#"
,&S"7%0,+*#/)"0("',+%$*),E%!"/.%!%7*9&()"0()"
*75,.#)" (!'*$%!!(7(!#,&S" \),!#/" .%75$*)(_<"
+,"0*)E!.E%!"(!#$(".("9&*"()#"7%!/#,*$("(#".("
9&*"()#"7%!/#,$*),B+("0,!)"+,"5$/)(!#,E%!"0()"
,',!#,;()"(#"0()".%r#)"0()"5$%^(#)3
R()" 0*)5&#()" (!#$(" (S5($#)" !%&$$*))(!#" +("
).(5E.*)7("0()"0/.*0(&$)"(#"0&"5&B+*.3
s""̀!.,5,.*#/" 0()" $()5%!),B+()" 0()" /',+&,E%!)"
/.%!%7*9&()"H"5$/)(!#($",&S"0/.*0(&$)"(#",&"
5&B+*."0()"$/)&+#,#)" *!#/;$,!#".+,*$(7(!#")%&)"
&!(" F%$7(" %&" )%&)" &!(" ,&#$(" +," 0*'($)*#/" 0("
+(&$)"5$%5$()"5$/%..&5,E%!)3
s""@:6" ,^%&#(!#" +()" " *!/'*#,B+()" .%!#()#,E%!)"0()"
$/)&+#,#)"0/5+,*),!#)",'(."+,"7*)("(!".,&)("0("+,"
.%75/#(!.("(#"0("+:%B^(.E'*#/"0("+(&$)",&#(&$)<"
$/0&*#)",&"9&,+*C.,EF"5/^%$,EF"0("#(.8!%.$,#()"
*;!%$,!#)"0()"$/,+*#/)"(#"0()"&E+*#/)"0(7,!0/()"
5,$"+()"5%5&+,E%!)"(#"+(&$)"/+&)3
s""k*)(" (!" (S($;&(" 0(5&*)" 9&(+9&()" ,!!/()"
0()" )(&+)" %B^(.EF)" (!'*$%!!(7(!#,&S" 0&"
0/'(+%55(7(!#" 0&$,B+(" ,&" 0/#$*7(!#" 0()"
'%+(#)" /.%!%7*9&()"(#"C!,!.*($)"0(" .("7W7("
0/'(+%55(7(!#"0&$,B+("0/)%$7,*)""5%)*E%!!/)"
(!")(.%!0"5+,!"t",'(."(!"5+&)"&!(""5+,.("(S.())*'(""
0/'%+&(",&".$*#A$("0("+:*75,.#"0()"5$%^(#)")&$"+("
)(&+"%B^(.EF"0("$/0&.E%!"0&"g O3
KKK"LX"KKK
N$,!)5%$#"(#"0(D("5&B+*9&("">"1'$*+"OPQO
s""+!/;,+(" 9&,+*#/" 0()" /#&0()<" !%#,77(!#"
9&,!#",&S"'%+(#)"())(!E(+)"9&(")%!#"+()".%r#)"
0:*!'()E))(7(!#<" +()" 5$/'*)*%!)" 0(" #$,C." (#"
+()" .8,$;()" $/.&$$(!#()" 0(" F%!.E%!!(7(!#"
;/!/$/()" 5,$" +()" 5$%^(#)" t" 0,!)" .($#,*!)" .,)<"
5,)" +()" 7%*!0$()" (!" *75%$#,!.(<" +()" /#&0()"
5$/)(!#/()"5,$"+("7,c#$("0:%&'$,;(".%!C!(!#"H"
+,"7,+8%!!W#(#/"*!#(++(.#&(++(3
s""R,"5$,E9&("!%&'(++("0()"444"#(!0"H"/.+*5)($"+,"
$/I(S*%!")&$"+(".%r#"(#"+,"F,*),B*+*#/"C!,!.*A$("
0()";$,!0)"5$%^(#)3
s""4%&$" +()" 5+&)" ;$,!0)" 5$%^(#)<" +(" 5,)),;(" e" (!"
F%$.(" f" '*," +," +%*" 5%&$" +()" *75%)($" )(" F,*#"
(!" ,&#%$*),!#" 0()" /',+&,E%!)" *!.%75+A#()""
5,$" 0/$%;,E%!" ,&S" $A;+()" ,+%$)" 7W7(" 9&("
+:*75%$#,!.(" 0(" +:(!^(&" 0('$,*#" *75%)($" 0()"
/',+&,E%!)"5+&)",55$%F%!0*()"\(S"+("7/#$%"0&"
;$,!0"4,$*)"%&"+("5$%^(#"*!#($!,E%!,+"0("R6%!>
N&$*!_3
s""R,";/!/$,+*),E%!"0()"5$%./0&$()"5$%;$())*'()"
0("0/B,#"5&B+*.","0()"(T(#)"5($'($)"j"%!"0/B,#"
0("+,""!/.())*#/"(#K%&"0("+:&E+*#/"0()"5$%^(#)"(#"
%!"#$,!.8(")&$"+(&$"%55%$#&!*#/"(#"+(&$"&$;(!.("
,',!#"0("0*)5%)($"0("+,"7()&$("0("+(&$"&E+*#/"
/.%!%7*9&(" (#" 0(" +(&$" F,*),B*+*#/" C!,!.*A$(3"
4%&$" +()"0/B,#)"5&B+*.)<" *+"!:6",";/!/$,+(7(!#"
5,)" 0:/+/7(!#" 0:/',+&,E%!" 0(" +:%5/$,E%!3" @*"
0()"%$0$()"0(";$,!0(&$"0(".%r#")%!#",',!./)<"
+(" 0%))*($" ()#" ;/!/$,+(7(!#" #$A)" )&..*!.#" )&$"
+()" ,',!#,;()" 9&:,55%$#($,*#" +:%5/$,E%!<" (!"
5,$E.&+*($")&$"+()"#$,C.)3
m(" 7,!*A$(" 5+&)" ;/!/$,+(<" +(" 0/B,#" 5&B+*." ,"
5$*)" &!(" 5,$#" 5$/5%!0/$,!#(" 0,!)" +," 5$*)(" 0("
0/.*)*%!".("9&*".%!0&*#"H"5$*'*+/;*($"+()"/+/7(!#)"
$())(!E)"5,$"+("5&B+*."(#"+()"/+&)")&$"+()"F,.#(&$)"
%B^(.EF)" 0%!#" +:,!,+6)(" (#" )&$#%&#" +," )6!#8A)("
)%!#"0("7%*!)"(!"7%*!)"5$*)"(!".%75#(3"m("5+&)"
+," $(.8($.8("0&".%!)(!)&)"(#"0&"0/),$7(7(!#"
0()" %55%)*E%!)" 0(" #%&#()" )%$#()" .%!0&*#"
*!(S%$,B+(7(!#" H" &!" $(!.8/$*))(7(!#" (S.())*F"
0()"5$%^(#)3
g8,.&!"0(".()"($$(7(!#)"(S*;("&!(".%$$(.E%!3
!" )(" .%!.(!#$($," .*>,5$A)" )&$" 9&(+9&()"
5$%5%)*E%!)")*;!*C.,E'()3
G8" R," .$/,E%!" 0:&!(" 1&#%$*#/" *!0/5(!0,!#("0:/',+&,E%!"0()";$,!0)"5$%^(#)"0:*!F$,)#$&.#&$("
0("#$,!)5%$#)<"0&"#65("0("+:1=1-<"0%!!($,*#"5+&)"0("
.$/0*B*+*#/",&S"/',+&,E%!)3"@%!"$v+("!(")($,*#"5,)""
0("F,*$("+()"/',+&,E%!)"7,*)"0("):,))&$("0("+(&$"
(S*)#(!.("(#"0("+(&$"5($E!(!.(3"R,".%75/#(!.("
(#"+:*!0/5(!0,!.("5($7(D$,*(!#"0:,55%$#($"5+&)"
0(")%&5+())("0,!)" +,"7/#8%0%+%;*(3"1&"B()%*!<"
+:1&#%$*#/" 5%&$$,*#" .%77,!0($" 0()" .%!#$(>
(S5($E)()")&$"#(+"%&"#(+"/+/7(!#"0()"0%))*($)"9&*"
+&*"5,$,c#$,*#"!%#%*$(7(!#"*!)&J),!#3
'8" R:(J.,.*#/" 0:&!" 5$%^(#" )(" 7()&$(" 0:,B%$0",&" $,55%$#" (!#$(" +(" #$,C." .%!.($!/" (#" +(" .%r#"
0(" +:*!'()E))(7(!#" j" &!(" *!F$,)#$&.#&$(" ,'(."
&!(" F,*B+(" 0(!)*#/" 0(" #$,C." ," 5(&" 0:*!#/$W#3"
k,*)" 0:,&#$()" /+/7(!#)" *!#($'*(!!(!#""j"
+:*75,.#" )&$" +:(!'*$%!!(7(!#<" +()" (T(#)" )&$" +("
0/'(+%55(7(!#"/.%!%7*9&(<" +()".%!)/9&(!.()"
)&$"+:,7/!,;(7(!#3"R()"/#&0()"(S>5%)#"$/,+*)/()"
7%!#$(!#"9&(")*".()"(T(#)")%!#"$/(+)<"*+"!("F,&#"5,)"
+()" )&$()E7($3" l+%B,+(7(!#<" *+" (S*)#(" 5+&)*(&$)"
B%!!()"5$,E9&()"0:/',+&,E%!"0(".()"5$%^(#)"9&*"
)%!#"0,!)"+:(!)(7B+(".%!'($;(!#()3
H8" R()" 0%))*($)" 0(" 0/B,#" 5&B+*." 0('$,*(!#".%75%$#($"&!"7*!*7&7"0:/',+&,E%!"0&"5$%^(#3"
1))(q" )*75+*)#(<" (++(" 5%&$$,*#" !(" .%75%$#($"
9&:&!(" F%&$.8(D(" 0(" .%r#<" &!(" F%&$.8(D(" 0("
5$/'*)*%!)"0("#$,C."(#"&!("0().$*5E%!"0()",&#$()"
,',!#,;()3"m()"$,E%)")%77,*$()<"5,$"(S(75+("+("
#(75)";,;!/"5,$"+()"'%6,;(&$)"$,55%$#/",&".%r#"
0(" +:*!'()E))(7(!#<" 5($7(D$,*#" &!(" 5$(7*A$("
,55$/.*,E%!"0("+:%5/$,E%!3"1D(!0$("0("0*)5%)($"
0(" .(" 7*!*7&7" 5%&$" +,!.($" +(" 0/B,#" )($,*#"
5$%B,B+(7(!#" &!(" .%!#$,*!#(" &E+(3" R:1&#%$*#/"
0:/',+&,E%!"0('$,*#"W#$("),*)*(3
78"R()"/',+&,E%!)"0('$,*(!#"W#$("5/$*%0*9&(7(!#"$//',+&/()3"u&,!0"+,"0/.*)*%!"()#"5$*)("5+&)*(&$)"
,!!/()" ,5$A)" +(" B*+,!" )%.*%>/.%!%7*9&(<"
.(" 9&*" ()#" )%&'(!#" +(" .,)<" +:/#&0(" 0('$,*#"
W#$(" 5$/,+,B+(7(!#" $/,.#&,+*)/(" \(S(75+(" j"
R6%!>N&$*!3" @G1_3" `+" (!" ()#" 0(" 7W7(" 5%&$" +()"
.%!.($#,E%!)" 5&B+*9&()" 9&*" 0&$(!#" 5+&)*(&$)"
,!!/()"\(S(75+("Rlh"41g1_3
KKK"LV"KKK
N$,!)5%$#"(#"0(D("5&B+*9&("">"1'$*+"OPQO
I8" =/,J$7($" (#" F,*$(" $()5(.#($" +:%B+*;,E%!"9&(" +()" /',+&,E%!)" .%75$(!!(!#" B*(!" &!"
'%+(#"C!,!.*($"\,!,+6)("0("+,"F,*),B*+*#/"(#"0("+,"
$(!#,B*+*#/"C!,!.*A$("0&"5$%^(#>"*75,.#"0&")&$"+()"
C!,!.()"5&B+*9&()"0(" +:G#,#" (#" 0()" .%++(.E'*#/)"
#($$*#%$*,+()3
J8" =(!0$(" +()" $/)&+#,#)" 0()" /',+&,E%!)" 5+&)"5($.&#,!#()" (#" 5+&)" .%!',*!.,!#()3" k%!#$($"
0,!)" &!(" 5$/)(!#,E%!" 7&+E.$*#A$(" +," B,+,!.("
0()" ,',!#,;()" (#" 0()" *!.%!'/!*(!#)" 0(" #%&#()"
!,#&$(";/!/$/)"5,$"+("5$%^(#3"k(D$("(!"(S($;&("
+()" $,E%)" +()" 5+&)" )*;!*C.,EF)" 0(" +," $(!#,B*+*#/"
/.%!%7*9&(<" )%.*,+(<" (!'*$%!!(7(!#,+(" (#"
C!,!.*A$(3
KKK"LU"KKK
N$,!)5%$#"(#"0(D("5&B+*9&("">"1'$*+"OPQO
:@@)K)&L&3)F)==)B&BCMF> >N<)B&A)B&&:AO>@>B=3:=>?@B&C3?9)@:@=&A)&;:&3?<=)
?F:6"2:8)7!)G))H"2:8)!:)*<2I6!8)JKLL)$)>:"M8MD5!8)7!):6"#89&6:8)!#)H6"#;!)!:)!#)?56&9!)N
.#2&#)O&5MP6!)7!)H6"#;!))
KKK"XP"KKK
N$,!)5%$#"(#"0(D("5&B+*9&("">"1'$*+"OPQO
KKK"XQ"KKK
N$,!)5%$#"(#"0(D("5&B+*9&("">"1'$*+"OPQO
3M M3)@F)B&B=:=>B=>N<)B&)=&P>P;>?Q3:CR>N<)B
:3 &S:BB?F>:=>?@&A)B&3MQ>?@B&A)& 3:@F)T;EUV6%$/W.U!$%&+%6&XUY!Z[#%6&$4"!U*WY%6&(&=$W*6XU$.68D5jKKwww3,$F3,))%3F$K%B)($',#%*$(>0()>5%+*E9&()>$(;*%!,+()K%B)($',#%*$(>0()>5%+*E9&()>$(;*%!,+()>#$,!)5%$#)
F:B&SF)@=3)&AE:@:;\B)&B=3:=MQ>N<)T3WXXU$.&6#$&YEU#/%$.#$%&]&YW&1U*1#$$%*1%&+#&.$W*6XU$.&5%$$U/!W!$%&+%&/U^W"%#$6&_U1.UV$%&'`GGa8D5jKKwww3)#$,#(;*(3;%&'3F$K.%!#(!#K0%))*($>0(>5$())(>$,55%$#>%&'($#&$(>+,>.%!.&$$(!.(>0&>#$,!)5%$#>F($$%'*,*$(>
0(>'%6,;(&$)"
F)B)&SF?@B)>;&)F?@?O>N<)b&B?F>:;&)=&)@9>3?@@)O)@=:;T;%6&Y!%*6&%*.$%&c!*5$W6.$#1.#$%6&+%&.$W*6XU$.b&-UV!Y!.4&%.&1$U!66W*1%d&(&$WXXU$.&+%&OO&O!1e%Y&A!+!%$&%.&34-^&C$#+EeU--%&&_'``fa
F?<3&A)B&F?OC=)B
g&$WXXU$.&XW$Z1#Y!%$&6#$&.$W*6XU$.6&1UYY%1Z56&#$VW!*6&_'``Ia
g&&$WXXU$.&X#VY!1&.e4-WZ[#%&6#$&Y%&.$W*65%$.&W#0&$4"!U*6&+#&.$W*6XU$.&%0X$%66&$4"!U*WY&_=)3a&@U/%-V$%&'``h&&8D5jKKwww3..%75#()3F$KF$KggK0%.&7(!#)K=4NK=,55%$#>#8(7,E9&(>NG=350F
g&&$WXXU$.&X#VY!1&.e4-WZ[#%&6#$&Y%6&.$W*6XU$.6&5%$$U/!W!$%6&$4"!U*W#0&%*&>Y%i+%i $W*1%&_*U/%-V$%&'`G`a&8D5jKKwww3..%75#()3F$KF$KggK0%.&7(!#)K=4NK=,55%$#x#$,!)5%$#)xF($$%'*,*$()x$(;*%!,&Sx*+(x0(xF$,!.(x
!%'(7B$(xOPQP350F
g&$WXXU$.&&XW$Z1#Y!%$&6#$&YW&6!.#WZU*&%.&Y%6&X%$6X%1Z/%6&+%6&j*W*1%6&X#VY![#%6&_k#!*&'`GGa
g&$WXXU$.&X#VY!1&W**#%Y&'`G'8
O>@>B=l3)&A)&;EMF?;?Q>)b&A<&AM9);?CC)O)@=&A<3:P;)b&A)B&=3:@BC?3=B&)=&A<&;?Q)O)@=FU--!66W$!W.&"4*4$WY&W#&A4/%YUXX%-%*.&+#$WVY%m&Y%6&FU-X.%6&.$W*6XU$.8D5jKKwww3)#,E)E9&()30('(+%55(7(!#>0&$,B+(3;%&'3F$KC+(,07*!K0%.&7(!#)K4$%0&*#)x(0*#%$*,&SK4&B+*.,E%!)K
=(F($(!.()KOPQQKg%75#()x#$,!)5%$#K=(F($(!.()YOP$,55%$#YOP*!#Yg]Y1U;$,+YOPggNyYOPOPQP350F
B@>="W/W*.iX$Uk%.&1U*6UY!+4&+#&61e4-W&*WZU*WY&+E!*5$W6.$#1.#$%6&+%&.$W*6XU$.&&i&U1.UV$%&'`GG8D5jKKwww30('(+%55(7(!#>0&$,B+(3;%&'3F$K`klK50FK@y`NxPVPOOPQQ350F
B?F>M=M&A<&Q3:@A&C:3>B"R("5$%^(#""8D5jKKwww3)%.*(#(0&;$,!05,$*)3F$KF$K+>,.#(>7%E'(>(#>+(>).8(7,>0>(!)(7B+(>xOM38#7+
B=> &SB\@A>F:=&A)B&=3:@BC?3=B&AE>;)LA)L 3:@F)T";%6&.$W*6XU$.6&%*&1e!n$%68D5jKKwww3)EF3*!F%K+()>#$,!)5%$#)>,&^%&$0>8&*K%B)($',E%!>7%B*+*#(K+()>#$,!)5%$#)>.%77&!>.8*T$()KOPPU>]VO]38#7+
;%&1U-X.%&+4XYW1%-%*.68D5jKKwww3)EF3*!F%K+()>#$,!)5%$#)>,&^%&$0>8&*K%B)($',E%!>7%B*+*#(K.%75#(>0(5+,.(7(!#)>'%6,;(&$)>*+(>F$,!.(K
.%75#(>#$,!)5%$#>]VLM38#7+
<3 &S<@>?@&3?<=>l3)&A)& 3:@F)T W!.6&%.&Fe!n$%6&m&B.WZ6Z[#%6&+%6&=$W*6XU$.6&%*& $W*1%&%.&%*&)#$UX%&8D5jKKwww3&!*%!$%&E($(3F$KF,*#)>(#>.8*T$()KF,*#)>(#>.8*T$()>F$,!.(bOBQ(.UU[B0[U.MXB[O]VF0OPL.B,FQ(PzVXFO]]0V
OOV]ULO[,VX(F00[BMB][],.
<=C&S<@>?@&A)B&=3:@BC?3=B&C<P;>FB&)=& )33?9>:>3)BT;%6&1e!n$%6&1Y46&+#&.$W*6XU$.&X#VY!1&#$VW!*&'`G`
