European Communication Monitor 2019

EUROPEAN
COMMUNICATION
MONITOR 2019
EXPLORING TRUST IN THE PROFESSION, TRANSPARENCY,
ARTIFICIAL INTELLIGENCE AND NEW CONTENT STRATEGIES.
RESULTS OF A SURVEY IN 46 COUNTRIES.
Ansgar Zerfass, Dejan Verčič, Piet Verhoeven, Ángeles Moreno & Ralph Tench
A study conducted by the European Public RelaSons EducaSon and Research AssociaSon (EUPRERA)
and the European AssociaSon of CommunicaSon Directors (EACD), supported by partners
Cision Insights, Fink & Fuchs and CommunicaSon Director magazine.

4
!"#$%&'
!"#$%&'()*#+,
!"#$!$%&!'()*+,-&#'./01&$+/,20)-3&!4'1,20)-&,-4&$+3+,(15&%33)10,20)-6&7('33+/36&8889+'*(+(,9)(:
!%;<&!'()*+,-&%33)10,20)-&)=&;)>>'-01,20)-&<0(+12)(36&7('33+/36&8889+,14?)-/0-+9+'&
-%./.%01*02*.'%&*3"#$%4/.%01*56!6*&.+$(7,
@+(=,336&%96&A+(B0B6&<96&A+(5)+C+-6&#96&D)(+-)6&%96&E&F+-156&$9&GHIJKL9
!"#$%&'()*$++"(,-'.,$()/$(,.$#)01234)!5%6$#,(7).#"8.),().9&)%#$:&88,$(;).#'(8%'#&(-<;)
'#.,:,-,'6),(.&66,7&(-&)'(=)(&>)-$(.&(.)8.#'.&7,&84)?&8"6.8)$:)')8"#@&<),()AB)-$"(.#,&84
7('33+/3M&!"#$!$%N!%;<6&O',4(0:,&D+40,&7+(/0-9
P5)(2&Q')2,20)-&2)&.+&'3+4&0-&/+:+-43&G15,(23N:(,*5013LM&C$"#-&D)!"#$%&'()*$++"(,-'.,$()/$(,.$#)01234
D,R&HIJK9&%//&(0:523&(+3+(C+49
S&#()=9 <(9 %-3:,(&@+(=,33&,-4&25+&(+3+,(15&2+,>&=)(&25+&85)/+&4)1'>+-2&,-4&,//&*,(236&15,(23&,-4&4,2,9&F5+&>,2+(0,/&*(+3+-2+4&0-&2503&4)1'>+-2&
(+*(+3+-23&+>*0(01,/&0-30:523&,-4&0-2+(*(+2,20)-&.R&25+&(+3+,(15&2+,>9&T2&03&0-2+//+12',/&*()*+(2R&3'.U+12&2)&0-2+(-,20)-,/&1)*R(0:529&F02/+&,-4&3'.5+,4&
:(,*501&*()C04+4&.R&V+/0)3&D+40,9&#+(>0330)-&03&:,0-+4&2)&Q')2+&=()>&25+&1)-2+-2&)=&2503&3'(C+R&,-4&(+*()4'1+&,-R&:(,*50136&3'.U+12&2)&25+&1)-4020)-&
25,2&25+&3)'(1+&0-1/'40-:&25+&0-2+(-+2&,44(+33&03&1/+,(/R&Q')2+4&,-4&4+*012+4&)-&+C+(R&15,(29&T2&03&-)2&,//)8+4&2)&'3+&2503&4,2, 2)&0//'32(,2+&*()>)20)-,/&
>,2+(0,/&=)(&1)>>+(10,/&3+(C01+39&#'./0350-:&2503&#<W&4)1'>+-2&)-&8+.302+3&('-&.R&250(4&*,(20+3&,-4&32)(0-:&2503&4)1'>+-2&0-&4,2,.,3+3&)(&)-&
*/,2=)(>3&85015&,(+&)-/R&)*+-&2)&3'.31(0.+(3N>+>.+(3&)(&15,(:+&*,R>+-23&=)(&,33+330-:&0-=)(>,20)-&03&*()50.02+49&#/+,3+&'3+&, /0-X&2)&25+&)==010,/&
8+.302+&88891)>>'-01,20)->)-02)(9+' 0-32+,49
F503&(+*)(2&G15,(2&C+(30)-L&03&,C,0/,./+&,3&,&=(++&#<W&4)1'>+-2&,2&88891)>>'-01,20)->)-02)(9+'9
F5+&(+*)(2&03&,/3)&,C,0/,./+&,3&,&.))X/+2&*'./035+4&.R&O',4(0:,&D+40,&7+(/0-6&TP7Y&KZ[??II?I]H[J?9
-01./4.,
#/+,3+&1)-2,12&-,20)-,/&!"#$!$%&(+3+,(15+(3&,2&'-0C+(3020+3&0-&R)'(&1)'-2(R&/032+4&)-&*,:+&JH[&)(&/+,4&(+3+,(15+(&#()=9 <(9 %-3:,(&@+(=,336&
^+(=,33_'-0?/+0*^0:94+ 0=&R)'(&,(+&0-2+(+32+4&0-&*(+3+-2,20)-36&8)(X35)*36&0-2+(C0+836&)(&='(25+(&,-,/R3+3&)=&25+&0-30:523&*(+3+-2+4&5+(+9

5
!"#$%#$
!"#$%"#&'()&'*)+#"&,-+.") /
0$1$(#-2'&$1.3) 4
5$+2"&"6"37'()&'&$8"3#(92.-1 :;
<#,1+'.)'+2$'-"88,).-(+.")'9#"=$11.") :/
>,?6.-'+#,1+'.)'"#3().1(+.")(6'(&@"-(+$1 AB'
C2(66$)3$1'"='?,.6&.)3'+#,1+'()&'+#()19(#$)-7 A4
D+#(+$3.-'.11,$1'="#'+2$'9#"=$11.") EB
F#+.=.-.(6'*)+$66.3$)-$'.)'-"88,).-(+.")1 /;
C")+$)+'-#$(+.")'()&'&.1+#.?,+.") 4;
D(6(#.$1 GH
C2(#(-+$#.1+.-1'"='$I-$66$)+'-"88,).-(+.")'&$9(#+8$)+1 :;B
0$=$#$)-$1 :B;
D,#@$7'"#3().1$#1 :BE
>(#+)$#1 :BJ
K(+.")(6'-")+(-+1 :B4
F,+2"#1'()&'#$1$(#-2'+$(8 :BG
F&&.+.")(6'#$1",#-$1L'M)6.)$'?$)-28(#N1O'PI-$66$)-$'?""NO'9#$@.",1'PC5'#$9"#+1 :A;

6
!"#$%"#&
!"#$%&'#()*%)+%,"&%-./)0&1*%2)33.*#41()*%5)*#,)/%$"&'$%6#7",%)*%89&%0/&$$#*7%#$$.&$%+)/%
4)33.*#41()*%6&1'&/$:%,/.$,;%,/1*$01/&*4<;%1'9)414<;%4)*,&*,%$,/1,&7#&$%1*'%&3&/7#*7%,&4"*)6)7#&$=%
-30#/#416%#*$#7",$%$")>%")>%$)4#&(&$;%)/71*#$1()*$%1*'%#*'#9#'.16%0/14(()*&/$%1/&%1?&4,&'=%!"&%$,.'<%
16$)%#'&*(8&$%'/#9&/$%)+%&@4&66&*4&%#*%&14"%8&6';%3)(91(*7%/&1'&/$%,)%&916.1,&%,"&#/%)>*%$#,.1()*%1*'%
#*#(1,&%1%,./*1/).*'%>"&/&%*&4&$$1/<=
!"&%A/)1'%/1*7&%)+%,)0#4$%/&B&4,$%,"&%/)6&%)+%,)'1<C$%4)33.*#41,)/$=%D&%1/&%1$E&'%,)%)9&/$&&%
&9&/<,"#*7%F 166%$,1E&")6'&/$;%166%$)4#&,16%'&9&6)03&*,$%F 1*'%>&%"19&%,)%,/1*$61,&%,"#$%)*%A&"16+%)+%)./%
)/71*#$1()*$;%)./%2-G$%1*'%4)66&17.&$%#*%6&1'&/$"#0=%D&%41*%A&%4"1*7&%17&*,$;%$,/1,&7#4%A.$#*&$$%
4).*$&66)/$;%6&1'&/$%#*%4/&1(*7%,"&%0./0)$&%)+%)/71*#$1()*$%1*'%4)**&4,)/$=
!)%')%$);%>&%*&&'%,)%A&%,/.$,&'%A<%,)0%31*17&3&*,%1*'%6&1'&/$%)+%),"&/%A.$#*&$$%.*#,$=%H*'%>&%*&&'%,)%A&%,/.$,&'%A<%,")$&%
>#,"%>")3%>&%#*,&/14,%#*%)./%'1#6<%>)/E%F I)./*16#$,$;%#*B.&*4&/$;%1.'#&*4&$%1*'%31*<%3)/&=%!"&%JKLM%3)*#,)/%$")>$%,"1,%,"#$%#$
*),%16>1<$%,"&%41$&=%H44)/'#*7%,)%/&$0)*'&*,$%+/)3%NO%-./)0&1*%4).*,/#&$;%)./%0/)+&$$#)*%#$%'#$,/.$,&'%A<%31*<=%H6,").7"%4)*4/&,&%
$&/9#4&$%A<%4)33.*#41()*%'&01/,3&*,$;%17&*4#&$%1*'%0/14(()*&/$;%")>&9&/;%1/&%3.4"%100/&4#1,&'=
D"1,%')&$%,"#$%3&1*P%D&%*&&'%,)%>)/E%)*%)./%0/)86&%1$%4)33.*#41,)/$;%$,1<%$)6#';%1*'%4/&1,&%916.&%+)/%)./%)/71*#$1()*$=%
G9&/0/)3#$#*7%1*'%&@061#*#*7%&9&/<,"#*7%,"/).7"%/)$&Q(*,&'%761$$&$%#$%3#$6&1'#*7=%R)/%&@1306&;%,/1*$01/&*4<%#$%)S&*%'#$4.$$&'%1$%1%
E&<%+&1,./&%)+%3)'&/*%4)33.*#41()*$=%T.,%A&#*7%,/1*$01/&*,%#$%*),%&1$<%1,%166=%!"#$%$,.'<%$")>$%,"1,%1%31I)/#,<%)+%)./%0&&/$ 8*'%#,%
+1#/6<%)/%9&/<%'#U4.6,%,)%4)33.*#41,&%1A).,%,"&%0)6#(416%$,1*4&%)+%6&1'&/$"#0%,&13$;%#*,&/*16%0/)4&$$&$;%,)0Q6&9&6%$,/1,&7#&$;%1*'%
6&1'&/$"#0%0/14(4&$=%H*),"&/%&@1306&:%H/(84#16%V*,&66#7&*4&%WHVX%#$%)S&*%'#$4.$$&'%1$%1%A#7%)00)/,.*#,<%+)/%,"&%0/)+&$$#)*=%T.,%>&%
16$)%"19&%,)%,16E%1A).,%,"&%,"/&1,$%F #*46.'#*7%3#$$#*7%E*)>6&'7&;%4)30&,&*4&$%1*'%0/14(416%&@0&/#&*4&$%#*%,"&%8&6'Y%166%#'&*(8&'%
#*%,"#$%$,.'<=%!"&/&%#$%&9&*%1%/&9&/$&%ZHV%'#9#'&[%A&,>&&*%<).*7&/%1*'%)6'&/%4)33.*#41,)/$%>#,"%,")$&%#*%,"&#/%,>&*(&$%0&/4&#9#*7%
3)/&%/#$E$%,"1*%3)/&%$&1$)*&'%4)66&17.&$%F 1%0.6#*7%/&$.6,%,"1,%*&&'$%,)%A&%&@06)/&'%#*%'&,1#6=
!"&%-H2]%#$%1%9#A/1*,%4)33.*#,<%,"1,%0/)9#'&$%3.6(06&%061^)/3$%,)%'#$4.$$%$.4"%4"166&*7&$:%/&7#)*16%'&A1,&$%14/)$$%-./)0&;%
>)/E#*7%7/).0$;%1*'%$0&4#84%0/)7/133&$%+)/%4)33.*#41()*%6&1'&/$%1*'%*&@,Q7&*&/1()*%6&1'&/$=%D&%1/&%0/).'%,)%0/&$&*,%,"#$%
/&0)/,;%1%I)#*,%0/)I&4,%>#,"%-_`a-aH%+)/%3)/&%,"1*%1%'&41'&=%V%")0&%,"1,%<).%>#66%0/)8,%+/)3%,"&%#*$#7",$=
b1*$%c)&6&31*
!"#$%&#'()*+,"-.#/'*0$$-1%/2-'*-3*4-55,'%1/2-'*6%"#1(-"$

7
!"#$%&'(&%)*&+,$$&+*-',&,(-&./#"(,0'$+&'$&-*10'('(2&'(&+,(3&1/#(%"'*$4&5&"*1*(%&"*6"*$*(%,78*&6/00&/9&%)*&
6/6#0,7/(&'(&%)*&:('%*-&;'(2-/+<&=*"+,(3&,(-&>%,03&$)/?*-&%),%&*8*"3&%)'"-&6*"$/(&-'$%"#$%$&./#"(,0'$%$&
?)*(&%)*3&"*6/"%&,@/#%&/"2,('$,7/($4&A),%&-/*$&%)'$&+*,(&9/"&1/++#('1,7/(&,(-&6#@0'1&"*0,7/($&
6",177/(*"$B&5"*&%)*3&$700&%"#$%*-&C ,(-&@3&?)/+B&5"*&%)*"*&-'D*"*(1*$&@*%?**(&%)*&6"/9*$$'/(,0<&
/"2,('$,7/(,0&,(-&'(-'8'-#,0&0*8*0<&,(-&,1"/$$&1/#(%"'*$B&5(-&)/?&-/*$&%)'$&1/+6,"*&%/&%)*&%"#$%&'(&
,0%*"(,78*&,-8/1,%*$&0'E*&%/6&+,(,2*+*(%<&+,"E*7(2&,(-&$,0*$&6*/60*<&/"&/%)*"&*+60/3**$B
!)*&F#"/6*,(&G/++#('1,7/(&H/('%/"&IJKL&*M60/"*$&%)*$*&'$$#*$<&,$&?*00&,$&,&(#+@*"&/9&/%)*"&%/6'1$&"*0*8,(%&9/"&%)*&N*0-4&!)*&
$%#-3&$)/?$&%),%&'+6,1%$&,(-&"'$E$&/9&5"7N1',0&>(%*00'2*(1*&9/"&1/++#('1,7/($&,"*&,$$*$$*-&O#'%*&-'D*"*(%03<&%),%&1/(%*(% 1"*,7/(&'$&
+,'(03&'($6'"*-&@3&'(%*"(,0&$/#"1*$&P@#%&0*$$&@3&*M%*"(,0&'(6#%&,(-&-'$1/#"$*$Q<&%),%&$),"*-&+*-',&),8*&10*,"03&2,'(*-&'(&'+6/"%,(1*<&
,(-&%),%&$6/($/"*-&$/1',0&+*-',&1/(%*(%&'$&#$*-&@3&*8*"3&$*1/(-&1/++#('1,7/(&-*6,"%+*(%&,(-&,2*(13&,1"/$$&F#"/6*4
!)*&KR%)&*-'7/(&/9&/#"&,((#,0&$%#-3&'$&@,$*-&/(&"*$6/($*$&9"/+&I<STL&1/++#('1,7/(&6"/9*$$'/(,0$&?/"E'(2&'(&1/+6,('*$<&(/(U
6"/N%$<&2/8*"(+*(%,0&/"2,('$,7/($&,(-&,2*(1'*$&9"/+&VS&F#"/6*,(&1/#(%"'*$4&W*%,'0*-&,(,03$*$&,"*&,8,'0,@0*&9/"&II&1/#(%"'*$4&!)'$&
+,E*$&%)*&+/('%/"&%)*&0,"2*$%&"*2#0,"&$%#-3&/9&%)*&N*0-&?/"0-?'-*&C ,(-&%)*&/(03&%"#03&20/@,0&"*$*,"1)&/9&'%$&E'(-&'(&1/(.#(17/(&?'%)&
%)*&X/"%)&5+*"'1,(<&Y,7(&5+*"'1,(&,(-&5$',&Z,1'N1&G/++#('1,7/(&H/('%/"$4&
[(&@*),09&/9&%)*&"*$*,"1)&%*,+<&>&?/#0-&0'E*&%/&%),(E&,00&6"/9*$$'/(,0$&?)/&6,"71'6,%*-&'(&%)*&$#"8*34&[#"&6"*+'#+&6,"%(*"&
G'$'/( >($'2)%$<&-'2'%,0&1/++#('1,7/($&6,"%(*"&'(E&]&#1)$<&,(-&(,7/(,0&6,"%(*"$&^>&GGG&'(&X/"?,3&,(-&GFG[H_&'(&>%,03&+,-*&%)'$&
*M%*($'8*&"*$*,"1)&6/$$'@0*4&H,(3&%),(E$&%/&,00&(,7/(,0&1/00,@/",%/"$&,%&"*(/?(*-&#('8*"$'7*$&,1"/$$&F#"/6*<&%/&`*($&a,2*0$%*'(&,(-&
b/((3&*1)(*"<&,(-&%/&%)*&F5GW<&(,+*03&5(2*0,&a/?,"%)&9"/+&%)*&@/,"-&/9&-'"*1%/"$4
Z"/94 W"4 5($2,"&c*"9,$$
!"#$%&"'"#&()"&*%+&,-"'',&%#.$%/)#0&%,-%12&#2"30(%/,445.0(#6,.7%!"08903%:.0;"&'02<7
="&4#.<%>%?5&,8"#.%+5@A0(%B"A#6,.'%?$5(#6,.%#.$%B"'"#&()%C'',(0#6,.%D?:+B?BCE
!"#$%&'(#)%"

9
!"#"$%&'()"#*+,
!"#$%&'()#*+$,(--&+./*0.(+$1(+.0('$2%,13$4567$.8$0"#$690"$#:.0.(+$(;$*$8&'<#=$0"*0$"*8$>##+$/(+:&/0#:$*++&*??=$8.+/#$455@A$
B0$#C)?('#8$/&''#+0$)'*/0./#8$*+:$;&0&'#$:#<#?()-#+08$(;$80'*0#D./$/(--&+./*0.(+$.+$/(-)*+.#8E$+(+F)'(;.08$*+:$(0"#'$('D*+.8*0.(+8$
.+/?&:.+D$/(--&+./*0.(+$*D#+/.#8$*/'(88$%&'()#A$!"#$80&:=$.8$/(-)?#-#+0#:$>=$(0"#'$8&'<#=8$/(<#'.+D$;.<#$/(+0.+#+08$*+:$-('#$0"*+$
G5$/(&+0'.#8$*?0(D#0"#'A$!"#$H?(>*?$,(--&+./*0.(+$1(+.0('$8#'.#8E$.+.0.*0#:$*+:$?#:$>=$I+8D*'$J#';*88E$.+/?&:#8$0"#$*++&*?$%&'()#*+$
80&:=$*+:$>.F*++&*?$80&:.#8$.+$K('0"$I-#'./*$21#+D$#0$*?AE$45673E$L*0.+$I-#'./*$21('#+($#0$*?AE$456ME$456@E$45673$*+:$I8.*FN*/.;./$
21*/+*-*'* #0$*?AE$456ME$456@3A$!"#$%,1$.8$/(F*&0"('#:$>=$O#P*+ Q#'R.RE$N.#0$Q#'"(#<#+E$S+D#?#8 1('#+($*+:$T*?)"$!#+/"A$I??$(;$
0"#-$*'#$'#+(U+#:$&+.<#'8.0=$)'(;#88('8$'#)'#8#+0.+D$:.;;#'#+0$+*0.(+*?$/(+0#C08A$I$U.:#'$>(*':$(;$)'(;#88('8$*+:$+*0.(+*?$'#8#*'/"$
/(??*>('*0('8$#+8&'#$0"*0$0"#$8&'<#=$'#;?#/08$0"#$:.<#'8.0=$(;$0"#$;.#?:$*/'(88$%&'()#A
I$P(.+0$)'(P#/0$>=$*/*:#-.*$*+:$)'*/0./#E$0"#$%,1$.8$('D*+.8#:$>=$0"#$%&'()#*+$N&>?./$T#?*0.(+8$%:&/*0.(+$*+:$T#8#*'/"$I88(/.*0.(+$
2%VNT%TI3$*+:$0"#$%&'()#*+$I88(/.*0.(+$(;$,(--&+./*0.(+$O.'#/0('8$2%I,O3E$8&))('0#:$>=$)'#-.&-$)*'0+#'$,.8.(+ B+8.D"08E$W.+X$Y$
W&/"8$*8$:.D.0*?$/(--&+./*0.(+8$)*'0+#'E$*+:$,(--&+./*0.(+$O.'#/0('$-*D*Z.+#$*8$-#:.*$)*'0+#'A$!"#$,#+0'#$;('$,(')('*0#$,(--&+.F
/*0.(+$*0$[B$K('U#D.*+$[&8.+#88$/"((?E$]8?(E$*+:$0"#$,#+0#' ;('$0'*0#D./$,(--&+./*0.(+$*0$BVL1$V+.<#'8.0=E$1.?*+E$8&))('0$0"#$)'(P#/0$
*8$+*0.(+*?$)*'0+#'8A
!"#$%,1$4567$.8$>*8#:$(+$'#8)(+8#8$;'(-$4E^G7$/(--&+./*0.(+$)'*/0.0.(+#'8$;'(-$_^$%&'()#*+$/(&+0'.#8A$!"#=$"*<#$*+8U#'#:$*$
/(-)'#"#+8.<#$`&#80.(++*.'#$0"*0$/(??#/08$*$<*'.#0=$(;$.+:#)#+:#+0$*+:$:#)#+:#+0$<*'.*>?#8$.+$*$&+.`&#$'#8#*'/"$;'*-#U('X$28##$)*D#$
643a$)#'8(+*?$/"*'*/0#'.80./8$(;$/(--&+./*0.(+$)'(;#88.(+*?8$2:#-(D'*)"./8E$#:&/*0.(+E$P(>$80*0&8E$#C)#'.#+/#3b$;#*0&'#8$(;$0"#$
('D*+.8*0.(+$280'&/0&'#E$/&?0&'#E$/(&+0'=3b$*00'.>&0#8$(;$0"#$/(--&+./*0.(+$:#)*'0-#+0b$0"#$/&''#+0$8.0&*0.(+$'#D*':.+D$0"#$)'(;#88.(+*?$
*+:$".8c"#'$('D*+.8*0.(+E$*8$U#??$*8$)#'/#)0.(+8$(+$:#<#?()-#+08$.+$0"#$;.#?:A
!"#$80&:=$.8$>*8#:$(+$0"#('#0./*?$/(+/#)08$*+:$/(+80'&/08$;'(-$0"#$;.#?:$(;$80'*0#D./$/(--&+./*0.(+$2d(?0Z"*&8#+ Y$J#';*88E$456Mb$
K(0""*;0 #0$*?AE$45673A$#<#'*?$'#8#*'/"$*'#*8$"*<#$>##+$#C)?('#:$.+$0".8$#:.0.(+A$e&#80.(+8$*'#$*8X#:$*>(&0$0'&80$.+$0"#$/(--&+./*0.(+8
*+:$)&>?./$'#?*0.(+8$)'(;#88.(+$2#ADA$[#+0#?# Y$#.:#+D?*+ZE$455_E$455Gb$d(;;P*++ Y$#.:#+D?*+ZE$456Gb$L*'88(+E$455@3E$#+"*+/.+D$0'&80$
*+:$0'*+8)*'#+/=$*8$*+$(>P#/0.<#$;('$/(--&+./*0.(+8$2#ADA$I+*+:$Y$T(8#+E$455Gb$I'0"&'$fA$N*D#$(/.#0=$Y$[&8.+#88$T(&+:0*>?#$B+80.0&0#$
;('$,(')('*0#$%0"./8E$455@b$[(88E$67@Gb$,"'.80#+8#+E$4554b$,"'.80#+8#+$Y$,('+#?.88#+E$456Mb$]X*=E$456^b$!"*X('E$456M3b$I'0.;./.*?$B+0#??.F
D#+/# 2#ADA$H*??(U*=$Y$U.*0#XE$456Gb$H#+08/"E$4567b$1*X'.:*X.8E$456@b$N((?#$Y$1*/XU('0"E$456@b$T&88#?$Y$K('<.DE$456^3E$/(+0#+0$
/'#*0.(+$*+:$:.80'.>&0.(+$2#ADA$['.0(E$4569b$O.#0'./"E$456Gb$%:#?-*+$Y$*?8>#'DE$4565b$N&?.ZZ.E$456_3E$*+:$)*.:$(+?.+#$/(--&+./*0.(+$
2#ADA$1*/+*-*'* #0$*?E$456^b$f(P:=+8X. Y$H(?*+E$456^3A
I::.0.(+*??=E$8#<#'*?$`&#80.(+8$;'(-$)'#<.(&8$%,1$8&'<#=8$"*<#$>##+$'#)#*0#:$0($0'*/X$0"#$?(+D.0&:.+*?$:#<#?()-#+0$(;$0"#$;.#?:A
!"#$'#8#*'/"$:#8.D+$/(->.+#:$U.0"$0"#$8&>P#/0$0"#-#8$.+$0".8$#:.0.(+$8&))('08$*$>'(*:$'*+D#$(;$#<*?&*0.(+8$*+:$.+0#')'#0*0.(+8$U"./"$
#C)*+:$0"#$>(:=$(;$X+(U?#:D#$;('$0"#$:.8/.)?.+#A

11
!"#$%&%'%()*+,&*&"-%(.+/$012
!"#$%&'(&#$)*#+,%&&-(.#$%/$0"#$1*.%2#-&$3%44*&(5-,%&$6%&(0%.$789:$5%&+(+0#;$%/$<=$)*#+,%&+$-..-&>#;$(&$?$+#5,%&+@$A(B#$%/ 0"#+#$
)*#+,%&+$C#.#$%&'D$2.#+#&0#;$0%$2.%/#++(%&-'+$C%.E(&>$(&$5%44*&(5-,%&$;#2-.04#&0+F$&%0$->#&5(#+$%.$5%&+*'0-&5(#+@$G&+0.*4#&0+$*+#;$
;(5"%0%4%*+F$&%4(&-'$-&;$%.;(&-'$.#+2%&+#$+5-'#+$-&;$C#.#$H-+#;$%&$.#+#-.5"$)*#+,%&+$-&;$"D2%0"#+#+$;#.(B#;$/.%4$2.#B(%*+$.#+#-.5"$
-&;$'(0#.-0*.#@$!"#$+*.B#D$*+#;$0"#$1&>'(+"$'-&>*->#$-&;$C-+$2.#I0#+0#;$C(0"$JK$5%44*&(5-,%&$2.%/#++(%&-'+$(&$78$1*.%2#-&$5%*&0.(#+@$
L4#&;4#&0+$C#.#$4-;#$C"#.#$-22.%2.(-0#$-&;$0"#$M&-'$)*#+,%&&-(.#$C-+$-5,B-0#;$/%.$MB#$C##E+$(&$A#H.*-.DN6-.5"$789:@$L$'-.>#$
&*4H#.$%/$2.%/#++(%&-'+$0".%*>"%*0$1*.%2#$C#.#$(&B(0#;$C(0"$2#.+%&-'$#I4-('+$H-+#;$%&$-$;-0-H-+#$2.%B(;#;$HD$0"#$1*.%2#-&$L++%5(-,%&$
%/$3%44*&(5-,%&$O(.#50%.+$P1L3OQ@$L;;(,%&-'$(&B(0-,%&+$C#.#$+#&0$B(-$&-,%&-'$.#+#-.5"$5%''-H%.-0%.+$-&;$2.%/#++(%&-'$-++%5(-,%&+@$
G&$0%0-'$RF?9R$.#+2%&;#&0+$+0-.0#;$0"#$+*.B#D$-&;$7F??<$%/$0"#4$5%42'#0#;$(0@$L&+C#.+$/.%4$2-.,5(2-&0+$C"%$5%*';$&%0$5'#-.'D H#
(;#&,M#;$-+$2-.0$%/$0"#$2%2*'-,%&$C#.#$;#'#0#;$/.%4$0"#$;-0-+#0@$!"(+$+0.(50$+#'#5,%&$%/$.#+2%&;#&0+$(+$-$;(+,&50$/#-0*.#$%/$0"#$136$-&;$
+#0+$(0$-2-.0$/.%4$4-&D$+0*;(#+$C"(5"$-.#$H-+#;$%&$+&%CH-''$+-42'(&>$%.$C"(5"$(&5'*;#$+0*;#&0+F$-5-;#4(5+$-&;$2#%2'#$%*0+(;#$%/$0"#$
/%5*+#;$2.%/#++(%&$%.$.#>(%&@$!"#$#B-'*-,%&$(+$0"#&$H-+#;$%&$7FJ?:$/*''D$5%42'#0#;$.#2'(#+$HD$5%44*&(5-,%&$2.%/#++(%&-'+$(& 1*.%2#@
!"#$S0-,+,5-'$T-5E->#$/%.$0"#$S%5(-'$S5(#&5#+$PSTSSQ$C-+$*+#;$/%.$;-0-$-&-'D+(+@$O#2#&;(&>$%&$0"#$B-.(-H'#$0D2#$0"#$.#+*'0+ "-B#$H##&$
0#+0#;$/%.$+0-,+,5-'$+(>&(M5-&5#$-&;$P(&0#.IQ$;#2#&;#&5(#+$P3"(UF$LVWXL$N$S5"#YZ T%+0I"%5I!#+0F$(&;#2#&;#&0$+-42'#+$!I!#+0F$T#-.+%&$
5%..#'-,%&$-&;$[#&;-''$.-&E$5%..#'-,%&Q@$S0-,+,5-'$(&;(5-0%.+$P3.-4#.+$XF$AF$.F$!-*Q$-.#$.#2%.0#;$(&$0"#$/%%0&%0#+$/%.$+(>&(M5-&0$.#+*'0+$-&;$
4-.E#;$C(0"$-+0#.(+E+$(&$0"#$M>*.#+$-&;$0-H'#+]$^$/%.$+(>&(M5-&0$P2$_$8@8RQ$-&;$^^$/%.$"(>"'D$+(>&(M5-&0$P2$_$8@89Q$;(Y#.#&5#+@
!"#$;#4%>.-2"(5+$+"%C$0"-0$+#B#&$%*0$%/$0#&$.#+2%&;#&0+$-.#$5%44*&(5-,%&$'#-;#.+]$<:@<$2#.$5#&0$"%';$-$0%2$"(#.-.5"(5-'$2%+(,%&$
-+$"#-;$%/$5%44*&(5-,%&$(&$-&$%.>-&(+-,%&$%.$-+$5"(#/$#`#5*,B#$%a5#.$%/$-$5%44*&(5-,%&$5%&+*'0-&5Db$7?@<$2#.$5#&0$-.#$*&(0 '#-;#.+$%.$
(&$5"-.>#$%/$-$+(&>'#$;(+5(2'(&#$(&$-$5%44*&(5-,%&$;#2-.04#&0@$JK@?$2#.$5#&0$%/$0"#$2.%/#++(%&-'+$(&0#.B(#C#;$"-B#$4%.#$0"-& 0#&$D#-.+$%/$
#`2#.(#&5#$(&$5%44*&(5-,%&$4-&->#4#&0@$!"#$-B#.->#$->#$(+$=7@R$D#-.+@$!"(+$.#B#-'+$0"#$"(>"$)*-'(0D$%/$0"#$+-42'#@$RJ@?$2#.$5#&0$
%/$-''$.#+2%&;#&0+$-.#$/#4-'#$-&;$-$B-+0$4-c%.(0D$P:R@:$2#.$5#&0Q$(&$0"#$+-42'#$"-+$-&$-5-;#4(5$;#>.##@$6%.#$0"-&$0C%$0"(.;+$"%';$-$
>.-;*-0#$;#>.##$%.$#B#&$-$;%50%.-0#@
S#B#&$%*0$%/$0#&$.#+2%&;#&0+$C%.E$(&$5%44*&(5-,%&$;#2-.04#&0+$(&$%.>-&(+-,%&+$Pc%(&0$+0%5E$5%42-&(#+F$9:@:$2#.$5#&0b$2.(B-0#$
5%42-&(#+F$7<@9$2#.$5#&0b$>%B#.&4#&0I%C&#;F$2*H'(5$+#50%.F$2%'(,5-'$%.>-&(+-,%&+F$9J@J$2#.$5#&0b$&%&I2.%M0$%.>-&(+-,%&+F$-++%5(-,%&+F$
98@?$2#.$5#&0QF$C"('#$7:@J$2#.$5#&0$-.#$5%44*&(5-,%&$5%&+*'0-&0+$C%.E(&>$/.##'-&5#$%.$/%.$->#&5(#+@
3%44*&(5-,%&$2.%/#++(%&-'+$/.%4$=J$1*.%2#-&$5%*&0.(#+$2-.,5(2-0#;$(&$0"#$+*.B#D@$O#0-('#;$(&+(>"0+$C#.#$5-'5*'-0#;$/%.$77$E#D$
4-.E#0+@$6%+0$.#+2%&;#&0+$P<9@=$2#.$5#&0Q$-.#$H-+#;$(&$S%*0"#.&$1*.%2#$P5%*&0.(#+$'(E#$G0-'DF$S2-(&F$S#.H(-F$3.%-,-QF$/%''%C#;$HD$d#+0#.&$
1*.%2#$P7:@8$2#.$5#&0b$5%*&0.(#+$'(E#$e#.4-&DF$f#'>(*4F$V#0"#.'-&;+F$SC(0g#.'-&;F$A.-&5#QF$V%.0"#.&$1*.%2#$P77@J$2#.$5#&0b$5%*&0.(#+$'(E#$
h&(0#;$[(&>;%4F$SC#;#&F$A(&'-&;F$V%.C-DQF$-&;$1-+0#.&$1*.%2#$P9J@:$2#.$5#&0b$5%*&0.(#+$'(E#$T%'-&;F$3g#5"$i#2*H'(5F$f*'>-.(-F i%4-&(-Q@

12
!"#"$%&'()%$*"+,%-($./(01"#23,.#
!"#$%#"&'
!"#$%&'(&%)*&+#,-'.&"*-/%'0($&1&
.022#('./%'0($&+"03*$$'0(4&5&6
!"#$%&'(&.022#('./%'0(&
7*+/"%2*(%$&1&/8*(.'*$4&5&9
!"#$%&'(&.022#('./%'0(&+"03*$$'0(/-$4&
5&:
!"#$%&'(&0%)*"&.022#('./%0"$4&5&;
<"/.%'.*$&03&%"#$%=,#'-7'(8&
.022#('./%'0(4&5&>
?)/--*(8*$ 03&%"#$%=,#'-7'(8&.022#('./%'0(4
5&@
!"/($+/"*(.A&'(&.022#('./%'0($4&5&B
?0(%*(%&."*/%'0(4&5&6:
?0(%*(%&7'$%"',#%'0(4&5&6;
</'7&0(-'(*&.022#('./%'0(4&5&6>
()*+&',-.&//$'"0%#"&',1*&2)++"&'%34
C*208"/+)'.$ D7#./%'0( E0,&$%/%#$ <"03*$$'0(/-&$%/%#$
F8*&G&H*(7*"4&
5&9;4&5&9>
<*"$0(/-&#$*&03&$0.'/-&
2*7'/4&5&9@4 5&9B
<*"$0(/-&#$*&03&
'(%*--'8*(%&/$$'$%/(%$4&
5 9I4&5&:J
K(.02*4&5&:;
F./7*2'.&
L#/-'3'./%'0(4
5&:6
<0$'%'0(4 5&6B
<"/.%'.*$&MF"*/$&
03&N0"OP4&5&9:
DQ+*"'*(.*&0(&%)*&R0,
MA*/"$P4&&5&:J
S*2,*"$)'+&'(&
+"03*$$'0(/-&/$$0.'/%'0(M$P4&
5&:9
.&//$'"0%#"&',5)1%*#/)'#
DQ.*--*(.*
K(3-#*(.* <*"30"2/(.*
F7T'$0"A '(3-#*(.*4&5&6I
DQ*.#%'T* '(3-#*(.*4&5&9J
U#..*$$4&5&96
5#/-'%A G&F,'-'%A4&5&99
6*7%'"+%#"&'
U%"#.%#"*&1&?#-%#"* ?0#(%"A
!A+*&03&0"8/('$/%'0(4&5&6@
F-'8(2*(%&03&%)*&%0+&
.022#('./%'0(&2/(/8*"4&5&99
D#"0+*/(&.0#(%"A4&
5&::
()*0)1#"&'
U%"/%*8'. '$$#*$4&5&V
F"%'3'.'/-&K(%*--'8*(.*&'(&.022#('./%'0($4 5&I
W(7*"$%/(7'(8&F"%'3'.'/-&K(%*--'8*(.*4&5&6J
X*L#'"*2*(%$&30"&F"%'3'.'/-&K(%*--'8*(.*4&5&66
X'$O$&03&F"%'3'.'/-&K(%*--'8*(.*4&5&69

13
!"#$%&'()*+,-'+.%&$/01,$2,('&3+*('045
!"#$%$"&
!"#$%&'%(&))*+,-#.,&+/%01"+-2%(34 56758
9+,.%:"#$";/%<"#)%:"#$"; =>758
<"#)%)")?";/%(&+@*:.#+. =A7>8
4.B"; C7A8
'"()*+,*-$*&.*
D&;"%.B#+%EF%2"#;@ CG7>8
C%.&%EF%2"#;@ EA7H8
9I%.&%A%2"#;@ EG7G8
/0$1&2*&%)"3)%4*)."225&$.6%$"&)35&.%$"&
J.;&+1:2%#:,1+"$%-&))*+,-#.,&+%$"I#;.)"+. =C7=8
0:,1+"$%-&))*+,-#.,&+%$"I#;.)"+. CF758
K"#L:2%#:,1+"$%-&))*+,-#.,&+%$"I#;.)"+. E57A8
MMM7-&))*+,-#.,&+)&+,.&;7"* N%O";'#@@%".%#:7%=FE6%N%+%P%=/C>6%-&))*+,-#.,&+%I;&'"@@,&+#:@7%Q%ECR%KB";"%$&%2&*%M&;LS%Q%EGR%KB#.%,@%2&*;%I&@,.,&+S%
Q%=CR%!&M%)#+2%2"#;@%&'%"TI";,"+-"%$&%2&*%B#U"%,+%-&))*+,-#.,&+%)#+#1")"+.NVWS%0:,1+)"+.R%+%P%E/>6=%-&))*+,-#.,&+%I;&'"@@,&+#:@%M&;L,+1%,+%
-&))*+,-#.,&+%$"I#;.)"+.@7%Q%E>R%K,.B,+%2&*;%&;1#+,@#.,&+/%.B"%.&I%-&))*+,-#.,&+%)#+#1";%&;%-B,"'%-&))*+,-#.,&+%&'',-";%,@%#%)")?";%&'%.B"%"T"-*.,U"%
?&#;$%N%;"I&;.@%$,;"-.:2%.&%.B"%(34%&;%B,1B"@.%$"-,@,&+X)#L";%&+%.B"%"T"-*.,U"%?&#;$%N%$&"@%+&.%;"I&;.%$,;"-.:2%.&%.B"%(34%&;%B,1B"@.%$"-,@,&+X)#L";7
=>758
=A7>8
C7A8
CG7>8
EA7H8
EG7G8
/0$1&2*&%)"3)%4*)."225&$.6%$"&)35&.%$"&
J.;&+1:2%#:,1+"$%-&))*+,-#.,&+%$"I#;.)"+. =C7=8
CF758
K"#L:2%#:,1+"$%-&))*+,-#.,&+%$"I#;.)"+. E57A8
(&))*+,-#.,&+%
-&+@*:.#+-2/
VW%#1"+-2/
';"":#+-"%-&+@*:.#+.
=67C8
Y&U";+)"+.X
&M+"$/%I*?:,-X
@"-.&;/%I&:,Z-#:%
&;1#+,@#Z&+
EC7C8
[&+XI;&.%
&;1#+,@#Z&+/%
#@@&-,#Z&+
EF7>8
V;,U#."%-&)I#+2
=57E8
]&,+.%@.&-L%-&)I#+2
E6768
7-16&$#6%$"&
(&))*+,-#.,&+%$"I#;.)"+.%%%%%G57H8

14
!"#$%&'()*'+,-#%.&/)%0)#"$1%&/"&2$
!"#$"%&'&()"
!!!"#$%%&'(#)*$'%$'(+$,"-&./.0-,1)22 -+.)3".4567./.'.8.49:;7.#$%%&'(#)*$'.<,$1-22($')32".=.6>?.@A)+.(2.B$&,.<$2(*$'C.=.4D?.E$!.$3F.),-.B$&C.=.4G?.
@A)+.(2.B$&,.H-'F-,C.=.I6?.J3-)2-.2+)+-.+A-.A(HA-2+.)#)F-%(#/-F&#)*$')3.K&)3(L#)*$'.B$&.A$3F".=.I4?.M,-.B$&.).%-%N-,.$1.).<,$1-22($')3.$,H)'(2)*$'C
OP-,)33 E-)F.$1.#$%%&'(#)+($'9.
MH-'#B.QRO
S'(+.3-)F-,9.
T-)%.3-)F-,
T-)%.%-%N-,9.
Q$'2&3+)'+
U-%)3-
V)3-
MH-.W$'.)P-,)H-X
G:";Y
DI"4Y
D4">.B-),2
D7";Y
G5"4Y
D:">.B-),2
GG"GY
DD"GY
D4"4.B-),2
:;";Y
I6"4Y
I>"I.B-),2
*+),"-.&/0/$"1+0&"$20/.+3#/4&52/4+6+0/.+3#&
Z$#+$,)+-.WJA"Z"9.Z,"X ;"4Y
V)2+-,.WV"M"9.V"[#"9.V)H"9.V""M"X9.Z(<3$%) :I"4Y
)#A-3$,.W"M"9."[#"X 4D"DY
]$.)#)F-%(#.F-H,-- D"6Y
7"18"%-,+9&+#&/&9%36"--+3#/4 /--30+/.+3#
R&,$<-)'.M22$#()+($'.$1.Q$%%&'(#)+($'.
Z(,-#+$,2.WRMQZX
66"4Y
O+A-,.('+-,')+($')3.#$%%&'(#)+($'.
)22$#()+($'
6G"GY
])+($')3.J^.$,.#$%%&'(#)+($'.)22$#()+($' D;":Y

15
!"#$%&'()*+$,*&(-'"$)*&(.&()($%(,*'$*%/(*)%#,0
!"#$"%&'()%*+"
!"#$%&&'(&)&*+,-
,*%$-"%&'()%*+"
!!#.%&&'(&)&.$"-
!"#$%&'"&(#)*+"),*#"')-&)./)01+%$"*&)2%1&(+-"#)*&')3%1+)+"4-%&#
.*)$-"%&'()%*+"
/,#0%&&'(&)&+01-
(/#$"%&'()%*+"
,.#"%&&'(&)&010-
00012*33)&42/5*&3*&4$*%1") 6'7"%8/##'"$'/91':;<='6'&'>':?@A='2*33)&42/5*&'+%*8"##4*&/9#1'B'CCD'E&'0-42-'()%*+"/&'#$/$"'/%"'F*)'&*%3/99F'G/#"HI''
E&'$-4#'#)%J"F?'$-"')&4J"%#"'*8'K;'()%*+"/&'2*)&$%4"#'4#'G/#"H'*&'$-"'*L24/9'2*)&$%F'94#$'GF'$-"'()%*+"/&'M&4*&'N:;<=O'/&H'$-" P*9)3G4/'(&2F29*+"H4/ N:;<AO1
Q)#$%4/ R"9S4)3 T%/&2" U"%3/&F V4"2-$"&#$"4&
V)W"3G*)%S ,"$-"%9/&H# .04$X"%9/&H
Y"&3/%Z (#$*&4/ T4&9/&H E2"9/&H E%"9/&H V/$J4/
V4$-)/&4/ ,*%0/F .0"H"& M&4$"H'[4&SH*3
Q9G/&4/ Q&H*%%/ R*#&4/ /&H "%X"S*J4&/ P%*/$4/ PF+%)# U%""2"
E$/9F [*#*J* ]/2"H*&4/ ]/9$/ ]*&$"&"S%* ^*%$)S/9
."%G4/ .9*J"&4/ .+/4& _)%Z"F
Q%3"&4/ R"9/%)# R)9S/%4/ PX"2-'`"+)G942 U"*%S4/ )&S/%F
]*9H*J/ ^*9/&H `*3/&4/ `)##4/ .9*J/Z4/ MZ%/4&"

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

17
!"#$%&'()*&'*+&,
!"#$%"&#'()"*+,-./#*+).*#,"#*0-#$%..#$-1,%#%"1#2()+"%3,.$#,.#1-'3,","45#6''(+1,"4#*(#*0-#3%*-.*#7)+(8%+($-*-+#9+($#:(;-$8-+#<=>?/#
@A#B-+#'-"*#(9#*0-#',*,C-".#,"#*0-#7)+(B-%"#D",("#.0(E#3,**3-#(+#"(#'("9,1-"'-#,"#*0-#$-1,%/#E0,3-#("3&#("-#,"#9,;-#F>A#B-+#'-"*G#0%.#0,40#
'("9,1-"'-#FH($$,..,("#-)+(BI-""-/#<=>?/#BB5#J=KJ@G5#L(*0#;%3)-.#E-+-#3(E-+#*0%"#,"#B+-;,().#.)+;-&.5
M0,.#3(..#(9#*+).*#$,40*#%3.(#8-#*+)-#9(+#(*0-+#'($$)",'%*(+./#-.B-',%33&#*0(.-#E0(#'($$)",'%*-#("#8-0%39#(9#'($B%",-.#%"1#(*0-+
*&B-.#(9#(+4%",.%*,(".5#M0,.#,.#%#N-&#'0%33-"4-#9(+#*0-#B+(9-..,("/#%.#'($$)",'%*(+.#"--1#*(#8-#*+).*-1#8&#*0-#B-(B3-#*0-&#E(+N#9(+/#-545#
*(B#-O-')*,;-.#%"1#F,"*-+"%3G#'3,-"*.#FL-"*-3- P#Q-,1-"43%"C/#<==JR#S(992%"" P#Q-,1-"43%"C/#<=>?R#T%+..("/#<==UG5#L)*#*0-&#%+-#%3.(#
1-B-"1-"*#("#*0-#*+).*#(9#2()+"%3,.*./#83(44-+./#,"93)-"'-+./#%"1#B)83,'.#E,*0#E0($#*0-&#,"*-+%'*#*(#+-%'0#*0-,+#4(%3.5#S,40#*+).*#3-;-3.#
%+-#,$B(+*%"*#*(#E(+N#-99-'*,;-3&/#%.#0,40K*+).*#4+()B.#()*B-+9(+$#3(EK*+).*#4+()B.#FL(../#>AU?R#V(3-$8,-E.N, P#W'H("N,-/#>AUXR#Y%"1/#
>AU<G5
M+).*#,"#'($$)",'%*,(".#%"1#B)83,'#+-3%*,(".#FZ[G#'%"#8-#,";-.*,4%*-1#9+($#%#$%'+(/#$-.( %"1#$,'+(#B-+.B-'*,;-#*+).*#,"#*0-#
B+(9-..,("/#,"#'($$)",'%*,("#1-B%+*$-"*.#(+#%4-"',-./#%"1#,"#,"1,;,1)%3#B+%'*,*,("-+.5#Z+-;,().#+-.-%+'0#,"1,'%*-.#*0%*#*+).* 1,99-+.#
8-*E--"#1,99-+-"*#3-;-3.#%"1#.*%N-0(31-+.5#]()+"%3,.*./#9(+#-O%$B3-/#%+-#;-+&#'+,*,'%3#*(E%+1.#*0-#Z[#B+(9-..,("#,"#4-"-+%35#^(+N,"4#'3(.-3&#
*(4-*0-+#0(E-;-+#0%.#%#B(.,*,;-#-99-'*#2()+"%3,.*.#*0%*#0%;-#E(+N-1#'3(.-3&#E,*0#Z[#B+(9-..,("%3.#-;%3)%*-#*0-#B+(9-..,("#8-**-+#*0%"#
*0(.-#E0(#0%;-#"(*#1("-#.(#F]-99-+./#>AUUR#[&%"#P#W%+*,".("/#>A??R#Q%33(* P#](0".("/#<==_G5#M0-#4-"-+%3#B(B)3%*,("/#("#*0-#(*0-+#0%"1/#
,.#4-"-+%33&#3-..#'+,*,'%3#*(E%+1.#*0-#Z[#B+(9-..,("#*0%"#2()+"%3,.*.#FL-"*-3- P#Q-,1-"43%"C/#<==JG5#
M0-#7HW#<=>A#,.#*0-#9,+.*#.*)1&#*0%*#0%.#-OB3(+-1#*0-#*(B,'#'($B+-0-".,;-3&#%'+(..#1,99-+-"*#3-;-3./#.*%N-0(31-+.#%"1#'()"*+,-.5 M0-#
9,"1,"4.#9,+.*#(9#%33#1-$(".*+%*-#*0%*#B+%'*,*,("-+.#-OB-+,-"'-#3(E#*+).*E(+*0,"-..#,"#*0-#B+(9-..,("5#M0-&#.*%*-#*0%*#*0-#'($$)",'%*,(".#
B+(9-..,("#,.#("3&#*+).*-1#8&#*E(#*0,+1.#(9#*(B#-O-')*,;-.#F_U5X#B-+#'-"*#*0,"N#.(G/#%"1#8&#%#$,"(+,*&#(9#,"93)-"'-+.#%"1#83(44-+.#FJU5X#B-+#
'-"*G/#2()+"%3,.*.#F@A5>#B-+#'-"*G#%"1#(+1,"%+&#B-(B3-#F<U5_#B-+#'-"*G5#V-"-+%33&#.B-%N,"4#*0-#B-+'-B*,("#(9#*+).*#3-;-3.#,"#*0- B+(9-..,("#,.#
0,40-+#,"#:(+*0-+"#%"1#^-.*-+"#7)+(B-#*0%"#,"#Q()*0-+"#%"1#7%.*-+"#7)+(B-5
Z+(9-..,("%3.#%+-#$(+-#B(.,*,;-#%8()*#*0-#B-+'-,;-1#*+).*#,"#*0-,+#1-B%+*$-"*.#(+#%4-"',-.5#?X5>#B-+#'-"*#(9#*0-#+-.B("1-"*.#+-B(+*#%#
B(.,*,;-#%**,*)1-#8&#-O-')*,;-.#,"#*0-,+#(E"#(+4%",.%*,("#(+#8&#'3,-"*./#9(33(E-1#8&#U@5A#B-+#'-"*#B-+'-,;-1#*+).*#9+($#2()+"%3,.*./#U=5>#B-+#
'-"*#9+($#B)83,'.#%"1#_?5J#B-+#'-"*#9+($#,"93)-"'-+.#%"1#83(44-+.5#!"*-+-.*,"43&/#*+).*#,"#'($$)",'%*,("#1-B%+*$-"*.#,.#-OB-+,-"'-1#
.,4",9,'%"*3&#3(E-+#,"#4(;-+"$-"*K(E"-1/#B)83,'#.-'*(+#%"1#B(3,*,'%3#(+4%",.%*,(".5
Z+(9-..,("%3.#%+-#*0-#$(.*#B(.,*,;-#%8()*#*0-#B-+'-,;-1#*+).*#*0-&#-"2(&#B-+.("%33&5#6#;%.*#$%2(+,*&#9--3.#*+).*-1#8&#*0-,+#'(33-%4)-./#
8(..-./#%"1#,"*-+"%3#'3,-"*./#%.#E-33#%.#8&#-O*-+"%3#.*%N-0(31-+.#%"1#%)1,-"'-.5#`"#*0-#B-+.("%3#3-;-3#0,-+%+'0&#$%**-+.#'($$)",'%*,("#
3-%1-+.#9--3#$(+-#*+).*-1#*0%"#B+(9-..,("%3.#,"#(*0-+#+%"N.5#M0-#1%*%#%3.(#+-;-%3.#.($-#4-"1-+#1,99-+-"'-.#E($-"#+-B(+*#$(+- *+).*-1#
+-3%*,(".0,B.#E,*0#-O*-+"%3#.*%N-0(31-+./#8)*#$-"#'3%,$#*(#8-#("#8-**-+#*-+$.#E,*0#*(B#3-%1-+.#(9#*0-,+#(+4%",.%*,("5
M(#'("'3)1-#*0-#-$B,+,'%3#+-.)3*.#.0(E#*0%*#*+).*#,.#%"#,..)-#9(+#.*+%*-4,'#'($$)",'%*,("5#Z+%'*,*,("-+.#-OB-+,-"'-#$(.*#*+).*#("#*0-#
$,'+(#3-;-3#%"1#3-%.*#*+).*#("#*0-#$%'+(#3-;-35#M0-&#9--3#$(.*#*+).*-1#8&#*(B#-O-')*,;-.#%"1#$)'0#3-..#8&#*0-#4-"-+%3#B)83,'5

18
!"#$%&'(&%)*&+,--#('+.%',($&/&0#12'+&"*2.%',($&0",3*$$',(&45.+",&2*6*278
9".+%'%',(*"$&*:0*"'*(+*&2,;&%"#$%;,"%)'(*$$&3",-&%)*'"&$%.<*),2=*"$
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.38949.#$%%&'(#)*($'.:+$0,11($')21".; 5<.='.%)'>.?&+$:,)'.#$&'*+(,18.*+&1*.('.*@,.%)11.%,A()
)'A.B$&+')2(1%.(1.A,#2('('C".D@(1.%(C@*.E,.*+&,.0$+.$*@,+.#$%%&'(#)*$+1.)1.!,22.F *@$1,.!@$.#$%%&'(#)*,.$'.E,@)20.$0.#$%:)'(,18.'$'G:+$0(*18.C$H,+'%,'*18
:$2(*(#)2.:)+*(,18.,*#".I)1,A.$'.>$&+.,J:,+(,'#,8.@$!.%&#@.A$.*@,.0$22$!('C.C+$&:1.*+&1*.*@,.:&E2(#.+,2)*($'1-#$%%&'(#)*($'1.:+$0,11($'.('.>$&+.#$&'*+>K.
L#)2,.5.ML*+$'C.A(1*+&1*.('.*@,.NO-#$%%1 :+$0,11($'P.F 9.ML*+$'C.*+&1*.('.*@,.NO-#$%%1 :+$0,11($'P".N,+#,'*)C,1<.Q+,R&,'#>.E)1,A.$'.1#)2,.:$('*1.SG9".T,)'.H)2&,1"
!"#$"%&"'()#*+)(%,()-"(.*/0%$(#"01)%2,+3$244*,%$1)%2,+(.#25"++%2,(/6(7
UV"3W
SV"9W
X6"5W
3V"UW
X"VV
X"X9
X"59
3"65
D$:.,J,#&*(H,1
M*@$1,.('.#@)+C,.$0
2,)A('C.$+C)'(1)*($'1
$+.&'(*1P
='02&,'#,+1.)'A
E2$CC,+1
Y$&+')2(1*1
Z+A(')+>.:,$:2,
MC,',+)2.:&E2(#P
M5P.L*+$'C.A(1*+&1*........................
('.*@,.NO-#$%%1 :+$0,11($'
L*+$'C.*+&1*.M9P
('.*@,.NO-#$%%1 :+$0,11($'
M3P MSPMXP

19
!"#$%&%&'()"*+,'"-&(.+&(+/"&0#%)+$'1/#(&)*+#(2+.'0)"(1)(%#3+'".#(&*#%&'(*+")/'"%+
#+4&.4)"+3)0)3+'5+%"6*%+%',#"2*+%4)+/"'5)**&'(+78+%4)+.)()"#3+/673&$
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.38949.#$%%&'(#)*($'.:+$0,11($')21".; 5<.='.%)'>.?&+$:,)'.#$&'*+(,18.*+&1*.('.*@,.%)11.%,A()
)'A.B$&+')2(1%.(1.A,#2('('C".D@(1.%(C@*.E,.*+&,.0$+.$*@,+.#$%%&'(#)*$+1.)1.!,22.F *@$1,.!@$.#$%%&'(#)*,.$'.E,@)20.$0.#$%:)'(,18.'$'G:+$0(*18.C$H,+'%,'*18
:$2(*(#)2.:)+*(,18.,*#".I)1,A.$'.>$&+.,J:,+(,'#,8.@$!.%&#@.A$.*@,.0$22$!('C.C+$&:1.*+&1*.*@,.:&E2(#.+,2)*($'1-#$%%&'(#)*($'1.:+$0,11($'.('.>$&+.#$&'*+>K.
L#)2,.5.ML*+$'C.A(1*+&1*.('.*@,.NO-#$%%1 :+$0,11($'P.F 9.ML*+$'C.*+&1*.('.*@,.NO-#$%%1 :+$0,11($'P".N,+#,'*)C,1<.Q+,R&,'#>.E)1,A.$'.1#)2,.:$('*1.SG9".TT.U(C@2>.
1(C'(0(#)'*..A(00,+,'#,1.M#@(G1R&)+,.*,1*8.:.V.4"45P".T.L(C'(0(#)'*.A(00,+,'#,1.M#@(G1R&)+,.*,1*8.:.V.4"49P"
W3"5X
SY"YX
ZY"3X
3W"SX
[["ZX
S["WX
SS"3X
Z5"SX
[S"SX
S5"YX
ZY"5X
36"6X
[Y"3X
SY"[X
Z6"6X
3S"9X
[9"[X
94"5X
Z["5X
3S"WX
D$:.,J,#&*(H,1
='02&,'#,+1.)'A.E2$CC,+1.T
$&+')2(1*1
]+A(')+>.:,$:2,
MC,' ,+)2.:&E2(#P.TT
$('*.1*$#^.#$%:)'(,1
N+(H)*,.#$%:)' (,1
_$H,+'%,'*)2.$+C)'(1)*($'1
`$'G:+$0(*.$+C)' (1)*($' 1
a$'1&2*)'#(,1.b.cC,'#(,1
!"#$"%&"'()#*+)(%,()-"(.*/0%$(#"01)%2,+3$244*,%$1)%2,+(.#25"++%2,(/6(7

20
!"#$%&'(&%)*&+,--#('+./,(&0",1*$$',(&23&4'5*"*(%&$%.6*),74*"$&.+",$$&8#",0*&
!"#$
%&%'()*+%,
-./0(%.'%1,$
2.3
40"55%1,
6"(1.20*,),
713*.218$
#%"#0%$
95%.%120$
#(40*':
!"#$
%&%'()*+%,
-./0(%.'%1,$
2.3
40"55%1,
6"(1.20*,),
713*.218$
#%"#0%$
95%.%120$
#(40*':
;%1<2.8 =>?@A BC?BA >D?EA E=?@A F#2*. GH?EA >I?GA HB?EA BD?GA
J(,)1*2 G@?DA BI?=A >@?@A BB?BA K"1)(520 GD?HA GH?BA B=?HA BG?CA
FL*)M%102.3 ==?>A B=?CA >B?CA BD?CA -)208 GG?EA HB?>A >>?@A @>?=A
N12.'% =D?CA BC?HA >D?IA E=?HA F0"+%.*2 GE?EA >@?>A BE?IA @C?IA
O%05*(< GH?BA >>?HA >B?EA @G?GA P1"2)*2 H>?HA HB?=A @H?>A @>?EA
Q%)R%102.3, =G?IA >E?GA B=?IA @=?IA F%14*2 HH?@A H@?=A BD?@A BH?BA
S.*)%3$
T*.53"< =E?EA >E?CA BG?EA E>?BA !(1U%8 H@?BA >>?EA @I?IA @C?>A
-1%02.3 =B?EA H@?IA >C?EA EH?=A K"02.3 HC?IA BG?HA @D?DA @I?GA
FL%3%. =H?DA HB?GA BE?EA BE?DA
PM%'R$
V%#(40*' GG?DA H@?BA >E?BA @=?=A
Q"1L28 CH?>A HD?=A BD?EA @G?CA V"<2.*2 HI?IA H=?GA >>?@A BH?EA
N*.02.3 =C?=A HI?EA HB?EA >E?IA O(0521*2 HE?DA >D?CA BG?=A @H?HA
LLL?'"<<(.*'2)*".<".*)"1?%( W$X%1/2,, %)$20?$@DEI$W$.$Y$@Z@H@$'"<<(.*'2)*".$#1"/%,,*".20,$/1"<$@@$'"(.)1*%,?$[ E$-.$<2.8$](1"#%2.$'"(.)1*%,Z$)1(,)$
*.$)R%$<2,,$<%3*2$2.3$^"(1.20*,<$*,$3%'0*.*.5?$!R*,$<*5R)$4%$)1(%$/"1$")R%1$'"<<(.*'2)"1,$2,$L%00$_ )R",%$LR"$'"<<(.*'2)%$".$4%R20/$"/$'"<#2.*%,Z
.".`#1"/*),Z$5"+%1.<%.),Z$#"0*)*'20$#21)*%,Z$%)'?$O2,%3$".$8"(1$%&#%1*%.'%Z$R"L$<('R$3"$)R%$/"00"L*.5$51"(#,$)1(,)$)R%$#(40*'$1%02)*".,W'"<<(.*'2)*".,
#1"/%,,*".$*.$8"(1$'"(.)18a$F'20%$E$9F)1".5$3*,)1(,)$*.$)R%$KVW'"<<, #1"/%,,*".:$_ H$9F)1".5$)1(,)$*.$)R%$KVW'"<<, #1"/%,,*".:?$K%1'%.)25%,$N1%b(%.'8$42,%3$".$
,'20%$#"*.),$>`H?

21
!"#$
!"#%
!"&!
!"$'
!"((
!"))
!"%'
&"**
!"*&
!"!#
!"%+
&"+)
!"(*
!"%)
!"$*
&"*&
!"(%
!"%)
&"+!
&"**
&+,-.,/-0123.
!$,4,!+
)$,4,)+
'$,4,'+
#$,-.,-563.
7%8,9:.-12,6;<:.0<:,;1,:=3,>?@A-BB< C.-D3<<;-1 9:.-12,:.0<:,;1,:=3,>?@A-BB< C.-D3<<;-1,7'87!8
E1F031A3.<,G16,H5-223.<,II
!"#$%&'(")*++,"$-.+&*/'*(,*$0*&+1("$%*(&1(#+1&23&,$).#*$0*(+4&2."%%*(+4&5"#($-.,+1+
-$6&17*&%*$*(-.&'"'#.-1,"$&17-$&17*,(&*.6*(&'**(+
JJJ"A-BB01;AG:;-1B-1;:-."30 @,K3.DG<<,3:,G5",&$%+,@,1,L,&M'$',A-BB01;AG:;-1,C.-D3<<;-1G5<",N %O,E1,BG1/,P0.-C3G1,A-01:.;3<M,:.0<:,;1,:=3,BG<<,B36;G
G16,Q-0.1G5;<B,;<,63A5;1;12",R=;<,B;2=:,H3,:.03,D-.,-:=3.,A-BB01;AG:-.<,G<,J355,S :=-<3,J=-,A-BB01;AG:3,-1,H3=G5D,-D,A-BCG1;3<M,1-14C.-D;:<M,2-T3.1B31:<M
C-5;:;AG5,CG.:;3<M,3:A",UG<36,-1,/-0.,3VC3.;31A3M,=-J,B0A=,6-,:=3,D-55-J;12,2.-0C<,:.0<:,:=3,C0H5;A,.35G:;-1<@A-BB01;AG:;-1<,C.-D3<<;-1,;1,/-0.,A-01:./W,
9AG53,%,79:.-12,6;<:.0<:,;1,:=3,>?@A-BB< C.-D3<<;-18,S ',79:.-12,:.0<:,;1,:=3,>?@A-BB< C.-D3<<;-18",X3G1,TG503<",II,Y;2=5/,<;21;D;AG1:,6;DD3.31A3<,7Z316G55,.G1[,
A-..35G:;-1M,C,,$"$%8"
R-C,3V3A0:;T3<,II
]-0.1G5;<:<,II
^.6;1G./,C3-C53
72313.G5,C0H5;A8,II
!"#$"%&"'()#*+)(%,()-"(.*/0%$(#"0123,+4$355*,%$123,+(.#36"++%3,(/7(8

22
!"#$%&'(&)*++#('),-*(&./0,"%+/(%$&,(.&,1/()'/$&23/$* 4/5/467
3*$%&0",)--*(/"$&"/0*"%&,&0*$'-5/&,8%#./&9:&'(%/"(,4&,(.&/;%/"(,4&$%,</=*4./"$
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.3859:.#$%%&'(#)*($'.;+$0,11($')21".< 3=.>,*?1.@,*.%$+,.1;,#(0(#.)'A.0$#&1.$'.B$&+.$+@)'(1)*($'".
C$!.A$.B$&.0,,2.)D$&*.*E,.)**(*&A,.*$!)+A1.B$&+.#$%%&'(#)*($'.A,;)+*%,'*-)@,'#B.DB.*E$1,.!E$.('*,+)#*.!(*E.B$&F.G#)2,.5.HI(1*+&1*.&1.1*+$'@2BJ.K L.HM+&1*.
&1.1*+$'@2BJ".N,+#,'*)@,1=.O+,P&,'#B.D)1,A.$'.1#)2,.;$('*1.QRL".S,)'.T)2&,1"
9L"5U
VW"6U
V4"5U
:9"QU
Q"W3
W"6L
W"9L
W"9L
M$;.,X,#&*(T,1.)'A
H('*,+')2J.#2(,'*1.0$+
!E$%.!,.!$+Y
Z$&+')2(1*1.!(*E.!E$%
!,.('*,+)#*
N&D2(#1.)'A.;,$;2,.!E$
&1,.$&+.%,A()8
#E)'',218.,T,'*18.,*#"
['02&,'#,+1.)'A.D2$@@,+1
!(*E.!E$%.!,.('*,+)#*
H5J.I(1*+&1*.&1.1*+$'@2B M+&1*.&1.1*+$'@2B HLJH3J HQJHWJ
!"#$"%&"'()#*+)(%,()-"($.//*,%$0)%.,('"10#)/",)203",$4(54(6

23
!"##$%&'()&"%*+,-(.)#,%)/*&%*0"1,.%#,%)(2*".0(%&/()&"%/*,3-,.&,%',*(*
/&0%&4&'(%)25*2"6,.*2,1,2*"4*).$/)*&%),.%(225*(%+*75*72"00,./8&%42$,%',./
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.3859:.#$%%&'(#)*($'.;+$0,11($')21".< 3=.>,*?1.@,*.%$+,.1;,#(0(#.)'A.0$#&1.$'.B$&+.$+@)'(1)*($'".
C$!.A$.B$&.0,,2.)D$&*.*E,.)**(*&A,.*$!)+A1.B$&+.#$%%&'(#)*($'.A,;)+*%,'*-)@,'#B.DB.*E$1,.!E$.('*,+)#*.!(*E.B$&F.G#)2,.5.HI(1*+&1*.&1.1*+$'@2BJ.K L.HM+&1*.
&1.1*+$'@2BJ".N,)'.O)2&,1".PP.C(@E2B.1(@'(0(#)'*.A(00,+,'#,1.HQRSTQ8.;.U.4"45J".P.G(@'(0(#)'*.A(00,+,'#,1.HQRSTQ8.;.U.4"4LJ"
V"WV
W"69
W":6
W":V
V"5V
W"63
W"9V
W"6W
V"WL
V"4:
W"6V
V"54
V"W:
W"64
W"::
W"XW
Y$ %;)'(,1
Z$O,+'%,'*)2.$+@)'(1)*($'1
R$'[;+$0(*.$+@)'(1)*($'1
Y$ '1&2*)'#(,1..Q@,'#(,1
H5J.I(1*+&1*.&1 1*+$'@2B M+&1*.&1.1*+$'@2B.HLJ
M$;.,],#&*(O,1.)'A.
H('*,+')2J.#2(,'*1.................
0$+.!E$%.!,.!$+^.PP
_$&+')2(1*1...................................
!(*E.!E$%.!,
('*,+)#*.PP
`'02&,'#,+1.)'A.
D2$@@,+1.!(*E.!E$%.
!,.('*,+)#*.P
a&D2(#1.)'A.;,$;2,............
!E$.&1,.$&+.%,A()8.
#E)'',218.,O,'*18.,*#".PP.
HWJ
!"#$"%&"'()#*+)(%,()-"($.//*,%$0)%.,('"10#)/",)203",$4(54(6

24
!"#$%&'(&)*++#('),%'*(&-./,"%+.(%$&,(-&,0.()'.$&12&-'33.".(%&$%,4.5*6-."$
!"#$
%&%'()*+%,$
-./$0*.)%1.-23$
'2*%.),$$$$$$$$$$$$$$$$$
4"1$56"7
5%$5"18
9"(1.-2*,),$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
5*)6
56"7$5%
:.)%1-')
;(<2*',$-./$
#%"#2%$$$$$$$$$$
56"$(,%
"(1$7%/*-=$
'6-..%2,=$
%+%.),=$%)'>$
:.42(%.'%1,$
-./$<2"??%1,$
5*)6$56"7$
5%$*.)%1-')
!"#$
%&%'()*+%,$
-./$0*.)%1.-23$
'2*%.),$$$$$$$$$$$$$$$$$
4"1$56"7
5%$5"18
9"(1.-2*,),$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
5*)6
56"7$5%
:.)%1-')
;(<2*',$-./$
#%"#2%$$$$$$$$$$$$
56"$(,%
"(1$7%/*-=$
'6-..%2,=$
%+%.),=$%)'>$
:.42(%.'%1,$
-./$<2"??%1,$
5*)6$56"7
5%$*.)%1-')
@%17-.A BB>CD EE>FD GG>HD GI>JD K#-*. BL>ED EH>ED GB>FD GJ>LD
M(,)1*- BB>ID BG>JD EG>HD EF>ND ;"1)(?-2 BJ>ND GH>ED GE>ND EC>GD
K5*)O%12-./ HC>ED EF>GD EH>BD GF>CD :)-2A EE>BD EF>LD GG>HD EL>ND
P1-.'% BJ>JD EJ>BD GN>FD GF>ID K2"+%.*- BJ>ID EE>BD GE>BD GN>LD
Q%2?*(7 BG>FD EN>GD GN>JD GN>FD R1"-)*- EN>ED EJ>CD GF>ED GG>JD
S%)6%12-./, HC>FD EC>BD EN>BD GI>LD K%1<*- EH>JD EF>ID GL>ED EI>LD
T.*)%/$
U*.?/"7 HF>FD EG>ED EJ>ND EI>FD !(18%A EB>BD NB>FD GG>FD GB>BD
:1%2-./ HC>FD BL>GD BL>JD EJ>HD ;"2-./ BN>ED EL>ND GH>BD GH>GD
K5%/%. BB>CD GJ>CD EE>ED EI>ED
RO%'6$
V%#(<2*' BL>ID BJ>JD GI>ED EI>LD
S"15-A HL>CD EB>BD BI>ND BC>LD V"7-.*- EN>ID GC>GD GE>CD GH>GD
P*.2-./ HC>FD BJ>ED EE>JD BL>LD Q(2?-1*- BJ>JD GH>LD GI>FD NN>BD
555>'"77(.*'-)*".7".*)"1>%( W$X%14-,, %)$-2>$FCIH$W$.$Y$I=HFN$'"77(.*'-)*".$#1"4%,,*".-2,$41"7$FF$'"(.)1*%,>$Z F[$%)],$?%)$7"1%$,#%'*4*'$-./$4"'(,$".
A"(1$"1?-.*,-)*".>$^"5$/"$A"($4%%2$-<"()$)6%$-))*)(/%$)"5-1/,$A"(1$'"77(.*'-)*".$/%#-1)7%.)W-?%.'A$<A$)6",%$56"$*.)%1-')$5*)6 A"(_$$K'-2%$I$0`*,)1(,)$
(,$,)1".?2A3$a N$0!1(,)$(,$,)1".?2A3>$;%1'%.)-?%,[$P1%b(%.'A$<-,%/$".$,'-2%$#"*.),$LcN>

25
!"#$%&%&'()"*+")*,'(*&-.)+/'"+'0)"#..+$'112(&$#%&'(+'"+*%"#%)34+)5,)"&)($)+
#+.'6)"+.)0).+'/+%"2*%+-4+)5%)"(#.+*%#7)8'.9)"*+'(+%8)+'"3#(&*#%&'(#.+.)0).
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.895.#$%%&'(#)*($'.:+$0,11($')21".; 3<.=,*>1.?,*.%$+,.1:,#(0(#.)'@.0$#&1.$'.A$&+.$+?)'(1)*($'".
B$!.@$.A$&.0,,2.)C$&*.*D,.)**(*&@,.*$!)+@1.A$&+.#$%%&'(#)*($'.@,:)+*%,'*-)?,'#A.CA.*D$1,.!D$.('*,+)#*.!(*D.A$&E.F#)2,.5.GH(1*+&1*.&1.1*+$'?2AI.J 8.
GK+&1*.&1.1*+$'?2AI".L,)'.M)2&,1".NN.B(?D2A.1(?'(0(#)'*.@(00,+,'#,1.G('@,:,'@,'*.1)%:2,1.KOK,1*P.:.Q.4"45I".
R"S4
S"68
S"TR
S"T3
R"RR
S"6T
S"T6
S"T8
R"S8
R"4T
S"T6
S"T6
R"36
S"66
S"6R
R"44
R"39
S"6S
S"65
S"69
UM,+)22.#$%%&'(#)*($'
F*+)*,?A.)'@.#$$+@(')*($'
L,@().+,2)*($'1
U'2(',.#$%%& '(#)*($'
L)+V,*('?P.C+)'@P.#$'1&%,+.#$%%&'(#)*($'
G5I.H(1*+&1*.&1.1*+$'?2A K+&1*.&1.1*+$'?2A.G8I
K$:.,W,#&*(M,1.)'@.
G('*,+')2I.#2(,'*1..........................
0$+.!D$%.!,.!$+V.NN
X$&+')2(1*1....................................
!(*D.!D$%.!,.
('*,+)#*.NN
Y&C2(#1.)'@.:,$:2,....................
!D$.&1,.$&+.%,@()P.
#D)'',21P.,M,'*1P.,*#".NN
Z'02&,'#,+1.)'@.
C2$??,+1.!(*D.!D$%.
!,.('*,+)#*.NN
GSI
!"#$"%&"'()#*+)(%,()-"($.//*,%$0)%.,('"10#)/",)203",$4(54(6

26
!"#$%&'(&)*++#('),-*(&.",)--*(/"$&./"$*(,001&23')"*&0/4/056
7&4,$%&+,8*"'%1&9//0$&%"#$%/:&;1&'(%/"(,0&.,"%(/"$<&/=%/"(,0&%"#$%&'$&,&;'%&0*>/"
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.58639.#$%%&'(#)*($'.:+$0,11($')21".; <=.>'?.'$!8.:2,)1,.*@('A.)B$&*.C$&+.:,+1$')2.1(*&)*($'".
D'.C$&+.?)(2C.!$+A8.!@$.*,'?1.*$.?(1*+&1*.C$&+.)?E(#,.)'?.)#*(E(*(,18.)'?.!@$.*+&1*1.C$&F.G@('A.$0.*@,.)E,+)H,.2,E,2.$0.*+&1* (' ,)#@.H+$&:".I#)2,.5.JK(1*+&1*.
%,.1*+$'H2CL.M N.JG+&1*.%,.1*+$'H2CL".O,+#,'*)H,1=.P+,Q&,'#C.B)1,?.$'.1#)2,.:$('*1.RSN".T,)'.E)2&,1"
6<"4U
64"4U
V6"3U
V3"VU
V3"WU
9N"NU
R"W5
R"RR
R"RV
R"5<
R"5<
<"6V
X$22,)H&,1.)'?.#$S!$+A,+1.('.%C
?,:)+*%,'*-)H,'#C
JD'*,+')2L.#2(,'*1.DY%.!$+A('H.0$+
G@,.*$:.2,)?,+.('.%C
?,:)+*%,'*-)H,'#C
O&B2(#1.)'?.:,$:2,.D.*)2A.*$.?(+,#*2C
J,"H".('.1*)A,@$2?,+.?()2$H&,1L
Z$&+')2(1*1.D.!$+A.!(*@
D'02&,'#,+1.)'?.B2$HH,+1.D.!$+A.!(*@
J5L.K(1*+&1* %, 1*+$'H2C G+&1*.%,.1*+$'H2C JNLJ3L JRLJ<L
!"#$"%&"'()#*+)(%,(-,"+"./(01(2

27
!"#$%&'(&)*++#('),%'*(&-",)%'%'*(."$&/0&1'22.".(%&$%,3.4*51."$&,)"*$$&6#"*-.
!"#$%&#'()*
+(,%#$-***************************
"./*01&2,#3*
41&
567(,+-*'#8*
9%19(%******************
"*$'(2*$1*
8,&%+$(:
;16&#'(,-$-
"*01&2*0,$<
"#4(6%#+%&-*
'#8*7(133%&-******************
"*01&2*0,$<
!"#$%&#'()*
+(,%#$-***************************
"./*01&2,#3*
41&
567(,+-*'#8*
9%19(%******************
"*$'(2*$1*
8,&%+$(:
;16&#'(,-$-
"*01&2*0,$<
"#4(6%#+%&-*
'#8*7(133%&-******************
"*01&2*0,$<
=%&/'#: >?@?A BC@CA C>@?A BD@?A E9',# CB@FA CF@BA CD@FA BG@CA
H6-$&,' >G@>A >I@DA >?@CA BC@IA 51&$63'( CC@FA CF@JA BG@JA CG@KA
E0,$L%&('#8 >G@FA CG@CA BB@CA B?@>A "$'(: CF@BA CD@IA CG@JA B?@JA
M&'#+% CD@CA CJ@KA BK@DA FG@?A E(1N%#,' >I@BA C?@>A CK@>A CI@?A
O%(3,6/ >I@IA CJ@IA CF@GA BJ@GA P&1'$,' >I@BA BD@CA CJ@?A BC@?A
Q%$<%&('#8- >D@BA CB@GA BC@IA BD@BA E%&7,' >G@>A CK@KA CJ@KA BD@BA
R#,$%8*
S,#381/ >B@IA BC@CA CD@>A BK@DA T6&2%: CD@JA BF@>A CJ@KA B>@IA
"&%('#8 >G@IA >G@IA >I@IA BC@>A 51('#8 C>@?A CF@KA CB@IA BC@FA
E0%8%# C>@IA CF@BA B?@DA FF@BA
PL%+<*
U%967(,+ B>@JA BG@?A CC@>A CK@?A
Q1&0': >K@JA >G@CA CF@JA CI@FA U1/'#,' CI@>A B?@DA FC@>A BK@IA
M,#('#8 >I@DA CD@JA C?@BA BF@>A O6(3'&,' >G@IA >J@BA CI@>A BF@?A
000@+1//6#,+'$,1#/1#,$1&@%6 V*W%&4'-- %$*'(@*GIJ>*V*#*X*JYBJB*+1//6#,+'$,1#*9&14%--,1#'(-*4&1/*GG*+16#$&,%-@*Z ?[*H#8*#10Y*9(%'-%*$<,#2*'716$*:16&
9%&-1#'(*-,$6'$,1#@*"#*:16&*8',(:*01&2Y*0<1*$%#8-*$1*8,-$&6-$*:16&*'8N,+%*'#8*'+$,N,$,%-Y*'#8*0<1*$&6-$-*:16*T<,#2*14*$<%*'N%&'3%*(%N%(*14*$&6-$*,#*%'+<*3&169@*
E+'(%*J*!],-$&6-$*/%*-$&1#3(:)*^ K*!T&6-$*/%*-$&1#3(:)@*5%&+%#$'3%-[*M&%_6%#+:*7'-%8*1#*-+'(%*91,#$-*D`K@

28
!"#$
!"#%
!"&'
!"%$
!"%$
("))
!"#&
!"&&
!"&*
!"%#
!"(*
!"*'
!"&+
!"!'
!"!%
!"%!
!"*)
!"*+
!"&#
!"!*
!"($
!"%!
!"*)
!"%%
!"#)
!"#'
!"&)
!"%%
!"%*
!"**
,-./- 0123/453677.584/- 874
9058/3.0:/-874;
<4:840367==>486/- 874
9/.?0- 841@3A./45@3674;>=0.367==>486/- 874
B74;>:- /462@3/5C8;84130- 6"
D%E3F8;-.>;-3=03;-.741:2 G.>;-3=03;-.741:23D&E
B7::0/1>0;3/45367H
I7.?0.;3843=23
50J/.-=04-K/104623LL
M7>.4/:8;-;3N3I7.?3I8-O3LL
P>A:86;3/453J07J:0333333333333333333
N3-/:?3-7358.06-:2 D0"1"3843
;-/?0O7:50.358/:71>0;E3
DN4-0.4/:E36:804-;333333333333333333333333333
NQ=3I7.?8413R7.3LL
GO03-7J3:0/50.3843=23
50J/.-=04-K/104623LL
N4R:>0460.;3/453A:7110.;333333333333333333
N3I7.?3I8-O3LL
D(E
!"#$%&%&'()"*+,'"-&(.+&(+/#"-)%&(.01"#(2+#(2+'(3&()+$'//4(&$#%&'(+)56)"&)($)+
3)**+%"4*%+17+$'33)#.4)*8+%'6+3)#2)"*+#(2+$3&)(%*+%9#(+6))"*+&(+'%9)"+6"#$%&$)*
III"67==>486/-874=748-7."0> K3S0.R/;;30-3/:"3'*%)3K343T3!(#367==>486/-8743J.7R0;;874/:;"3U (V3W45347I@3J:0/;03-O84?3/A7>-327>.3J0.;74/:3;8->/-874"3
N4327>.35/8:23I7.?@3IO73-045;3-7358;-.>;-327>.3/5C8603/453/6-8C8-80;@3/453IO73-.>;-;327>X3GO84?37R3-O03/C0./103:0C0:37R3-.>;-38430/6O31.7>J"3,6/:03%3DF8;-.>;-3
=03;-.741:2E3Y &3DG.>;-3=03;-.741:2E"390/43C/:>0;"3LL3Z81O:23;8148R86/4-358RR0.0460;3D8450J04504-3;/=J:0;3GHG0;-@3J3[3*"*%E"
!"#$"%&"'()#*+)(%,(-,"+"./(01(2

29
!"#$%$&'()*%++#$,-)./**01"&%+"/1)2#%3#$,)4##2),"51"4"&%1+2()*/$#)+$0,+#3
+'%1)6$/4#,,"/1%2,)"1)/+'#$)$%17,
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.58949.#$%%&'(#)*($'.:+$0,11($')21".; <=.>'?.'$!8.:2,)1,.*@('A.)B$&*.C$&+.:,+1$')2.1(*&)*($'".
D'.C$&+.?)(2C.!$+A8.!@$.*,'?1.*$.?(1*+&1*.C$&+.)?E(#,.)'?.)#*(E(*(,18.)'?.!@$.*+&1*1.C$&F.G@('A.$0.*@,.)E,+)H,.2,E,2.$0.*+&1*.('.,)#@.H+$&:".I#)2,.5.JK(1*+&1*.
%,.1*+$'H2CL.M N.JG+&1*.%,.1*+$'H2CL".O,)'.E)2&,1".PP.Q(H@2C.1(H'(0(#)'*.?(00,+,'#,1.JR,'?)22.+)'A.#$++,2)*($'8.:.S.4"45L"
T"N5
T"<T
T"<U
T"46
T"45
<"69
T"V3
T"TV
T"T4
T"55
T"5<
<"66
T"V6
T"VN
T"NT
T"34
T"35
<"69
G,)%.%,%B,+.-.W$'1&2*)'*
X'(*.2,)?,+.-.G,)%.2,)?,+
Q,)?.$0.#$%%&'(#)*($'.-.>H,'#C.WYZ
J5L.K(1*+&1*.%,.1*+$'H2C G+&1*.%,.1*+$'H2C.JNL
W$22,)H&,1.)'?.#$[
!$+A,+1.('.%C.
?,:)+*%,'*-)H,'#C.PP
$&+')2(1*1.D.!$+A.!(*@.PP
]&B2(#1.)'?.:,$:2,..................
D.*)2A.*$.?(+,#*2C J,"H".('.
1*)A,@$2?,+.?()2$H&,1L.PP
JD'*,+')2L.#2(,'*1...........................
D^%.!$+A('H.0$+.PP
G@,.*$:.2,)?,+.('.%C.
?,:)+*%,'*-)H,'#C.PP
D'02&,'#,+1.)'?.B2$HH,+1.
D.!$+A.!(*@
J<L
!"#$"%&"'()#*+)(%,(-,"+"./(01(2

30
!"#$
!"%$
!"!!
!"&%
!"&#
'"()
!"#$
!"!)
!"!!
!"$*
!"$(
!"&#
+,-.
/.0,-.
1$234567896730.3678:;<-= >896730.3678:;<-=31%2
?:--.,<9.63,;@3A:B
C:8D.8635;30=3
@.E,870.;7F,<.;A=
G:98;,-56763H3C:8D3C57I3JJ
K9L-5A63,;@3E.:E-.333333333333333333
H37,-D37:3@58.A7-= 1."<"35;3
67,D.I:-@.83@5,-:<9.623JJ3
1H;7.8;,-23A-5.;76333333333333333333333333333
HM03C:8D5;<3N:8
>I.37:E3-.,@.835;30=3
@.E,870.;7F,<.;A=
H;N-9.;A.863,;@3L-:<<.86333333333333333333
H3C:8D3C57I3JJ
1'2
!"#$%"&'(##)*+'$,+(*&-.$',+,+(*"./&."-(.,&#(."&,.)/,"0&."%$,+(*/1+-/&2+,1&
"3,".*$%&/,$4"1(%0"./5&6),&#"*&$."&(*&6",,".&,".#/&2+,1&,(-&%"$0"./
CCC"A:009;5A,75:;0:;57:8".9 F3O.8N,663.73,-"3P&$*3F3;3Q3$R*P'3A:009;5A,75:;3E8:N.665:;,-6"3S 'T3U;@3;:CR3E-.,6.37I5;D3,L:973=:983E.86:;,-36579,75:;"3
H;3=:983@,5-=3C:8DR3CI:37.;@637:3@56789673=:983,@V5A.3,;@3,A75V575.6R3,;@3CI:37896763=:9W3>I5;D3:N37I.3,V.8,<.3-.V.-3:N378967 5; .,AI3<8:9E"3XA,-.3$31456789673
0.3678:;<-=23Y %31>896730.3678:;<-=2"3+.,;3V,-9.6"3JJ3Z5<I-=365<;5N5A,;73@5NN.8.;A.6315;@.E.;@.;736,0E-.63>B>.67R3E3[3&"&$2"
!"#$"%&"'()#*+)(%,(-,"+"./(01(2

31
!"#$%&'(&$%")%*+',&,-..#(',)%'-(&)(/&0#12',&"*2)%'-($3
42*)"&/'55*"*(,*$&1*%6**(&/'55*"*(%&2*7*2$&)(/&$%)8*9-2/*"$
!!!"#$%%&'(#)*($'%$'(*$+",&-.-/,+0)11 ,*-)2"-3456-.-'-7-58639-#$%%&'(#)*($'-:+$0,11($')21"-; 5<-='-%)'>-?&+$:,)'-#$&'*+(,18-*+&1*-('-*@,-%)11-%,A()
)'A-B$&+')2(1%-(1-A,#2('('C"-D@(1-%(C@*-E,-*+&,-0$+-$*@,+-#$%%&'(#)*$+1-)1-!,22-F *@$1,-!@$-#$%%&'(#)*,-$'-E,@)20-$0-#$%:)'(,18-'$'G:+$0(*18-C$H,+'%,'*18
:$2(*(#)2-:)+*(,18-,*#"-I)1,A-$'->$&+-,J:,+(,'#,8-@$!-%&#@-A$-*@,-0$22$!('C-C+$&:1-*+&1*-*@,-:&E2(#-+,2)*($'1.#$%%&'(#)*($'1-:+$0,11($'-('->$&+-#$&'*+>K-
; 3<-L,*M1-C,*-%$+,-1:,#(0(#-)'A-0$#&1-$'->$&+-$+C)'(1)*($'"-N$!-A$->$&-0,,2-)E$&*-*@,-)**(*&A,-*$!)+A1->$&+-#$%%&'(#)*($'-A,:)+*%,'*.)C,'#>
E>-*@$1,-!@$-('*,+)#*-!(*@->$&K-; O<-P'A-'$!8-:2,)1,-*@('Q-)E$&*->$&+-:,+1$')2-1(*&)*($'"-='->$&+-A)(2>-!$+Q8-!@$-*,'A1-*$-A(1*+&1*->$&+-)AH(#,-)'A-)#*(H(*(,18
)'A-!@$-*+&1*1->$&K-D@('Q-$0-*@,-)H,+)C,-2,H,2-$0-*+&1*-('-,)#@-C+$&:"-R#)2,-5-ST(1*+&1*-1*+$'C2>U-F V-SD+&1*-1*+$'C2>U"-W,+#,'*)C,1<-X+,Y&,'#>-E)1,A-$'-1#)2,-:$('*1-ZGV"
[9"3
]V"5
64"4
Z9"V
[]"Z
9V"V
O6"5
9O"6
]3"[
39"[
94"5
]3"]
^)#+$-2,H,2
S#$%%&'(#)*($'.W_
:+$0,11($'U
^,1$-2,H,2
S#$%%&'(#)*($'.W_
A,:)+*%,'*1.)C,'#(,1U
^(#+$-2,H,2
S#$%%&'(#)*($'.-W_
:+)#*(*($',+1U
D$:-,J,#&*(H,1-.-S('*,+')2U-#2(,'*1
='02&,'#,+1-)'A-E2$CC,+1
`$&+')2(1*1
W&E2(#1-.-W,$:2,
W,+#,(H,A-*+&1*-E>-"""

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

33
!"#$%&'()*&'*+&,
!"##$%&'()&"%*(%+*,-*./"0122&"%(32*(/1*%")*)41*"%35*.1/2"%2*2.1(6&%7*"%*814(30*"0*"/7(%&2()&"%29*:"/#(3*/1./121%)()&;12*3&61*!<=2*(%+*
8"(/+*#1#81/2*"/*#(/61)&%7*(%+*2(312*.1".31>*(2*?133*(2*")41/*1#.3"5112*(%+*#1#81/2*"0*)41*"/7(%&2()&"%*.3(5*(*/"31*(2*?133>*?41)41/*
)415*(/1*'"('41+*85*./(')&)&"%1/2*"/*%")9*<@)1/%(3*1@.1/)2*&%*)41*0&13+>*'$2)"#1/2>*0(%2*(%+*2$.."/)1/2>*(%+*1;1%*(')&;&2)2*?&)4 ";1/3(..&%7*
&%)1/12)2*'(%*(32"*2$.."/)9*A%"?&%7*(8"$)*+&001/1%)*(+;"'()12*(%+*'4""2&%7*"/*2$.."/)&%7*)41#*'(/10$335*&2*(%*&#."/)(%)*.(/)*"0*2)/()17&'*
'"##$%&'()&"%9
B&)1/()$/1*(%+*1(/3&1/*/121(/'4*2$7712)*)4()*.$83&'*)/$2)*&%*('(+1#&'*1@.1/)2*(%+*1@)1/%(3*.1".31*CD(*.1/2"%*3&61*#1EF*&2*4&741/ )4(%*&%*
/1./121%)()&;12*"0*"/7(%&2()&"%29*G#"%7*)4"21>*/17$3(/*1#.3"5112*(/1*/()1+*#"/1*'/1+&831*)4(%*!<=2*"/*8"(/+*#1#81/2*C<+13#(%> HIJKF9*
L4&2*#(612*1#.3"5112*(%*&#."/)(%)*'4(%%13*0"/*2./1(+&%7*)41*?"/+*(8"$)*)41*"/7(%&2()&"%*CG%+1/22"%>*HIJKF9*M&)4&%*)41*D'"##$%&'(N
)&;1 "/7(%&2()&"%E*CO1&+1*1)*(39>*HIJKP*Q1/0(22*R*S&1/)#(%%>*HIJTF*1#.3"5112*?&)4*2.1'&0&'*6%"?31+71*(%+*2)/"%7*2"'&(3*%1)?"/62*'(%*81*
;1/5*1001')&;1*(2*'"/."/()1*&%03$1%'1/2*CU&1+1/4V$21/ R*-"21%81/71/>*HIJWF9*X"'&(3*#1+&(*(/1*71%1/(335*'"%2&+1/1+*(2*#"/1*'/1+&831*)4(%*
Y"$/%(3&2)&'*#1+&(*81'($21*"0*)41&/*.1/'1&;1+*($)41%)&'&)59*X"'&(3*#1+&(*./";&+1*)41*D;&1?2*"0*/1(3*.1".31EP*)41/1*&2*%"*7()1611.&%7*
&%;"3;1+*CU1?#(%*1)*(39>*HIJZF9
L4&2*51(/[2*#"%&)"/*(261+*'"##$%&'()&"%*(%+*,-*./"0122&"%(32*4"?*)415*1@.1/&1%'1*)41*)/$2)*"0*)41*71%1/(3*.$83&'*&%*+&001/1%) 7/"$.2*
2.1(6&%7*"%*814(30*"0*)41&/*"/7(%&2()&"%9*,/(')&)&"%1/2*)4&%6*)4()*#"2)*")41/*(+;"'()12*(/1*#"/1*)/$2)?"/)45*)4(%*)41#213;129 L415*
.1/'1&;1*1@)1/%(3*1@.1/)2*&%*)41*0&13+*C3&61*./"0122"/2*"/*'"%2$3)(%)2F*(2*)41*#"2)*)/$2)1+*CZI9*.1/*'1%)F>*0"33"?1+*85*31(+1/2 "0*)41*
"/7(%&2()&"%*C!<=2>*8"(/+*#1#81/2*(%+*)".*1@1'$)&;12P*TT9Z*.1/*'1%)F>*1@)1/%(3*2$.."/)1/2*3&61*0(%2*"/*'$2)"#1/2]'3&1%)2*CT9K*.1/*'1%)F9*
=)41/*1#.3"5112*"/*#1#81/2*"0*)41*"/7(%&2()&"%*(/1*/1."/)1+*)"*('4&1;1*(*2&#&3(/*)/$2)*31;13*3&61*'"##$%&'()&"%*./"0122&"%(32 CTJ9I*]*
TI9T*.1/*'1%)F9*^(/61)&%7*(%+*2(312*/1./121%)()&;12*(/1*/()1+*3"?1/*C_9H*.1/*'1%)F9*,$83&'*)/$2)*&%*1@)1/%(3*"/7(%&2()&"%2>*2$'4*(2*(')&;&2)2*
?4"*(')*(2*(+;"'()12*0"/*"/7(%&2()&"%2>*&2*.1/'1&;1+*2$/./&2&%735*3"?*CJ9T*.1/*'1%)F9*-12."%+1%)2*?"/6&%7*&%*%"%N./"0&)2*/()1*.$83&'*)/$2)*
&%*1@)1/%(3*1@.1/)2*(%+*2$.."/)1/2*2&7%&0&'(%)35*4&741/*)4(%*)41&/*.11/2*&%*")41/*"/7(%&2()&"%2>*(%+*)415*(32"*1@.1/&1%'1*(*4&741/*31;13*"0*
)/$2)*&%*)41#213;129
,/"0122&"%(32*+"*%")*.1/'1&;1*#$'4*+&2)/$2)*&%*(+;"'()12*2.1(6&%7*"%*814(30*"0*"/7(%&2()&"%29*=%35*_9_*.1/*'1%)*"0*)41#*/1."/)*
+&2)/$2)*(%+*)41*#(Y"/&)5*"0*`H9`*.1/*'1%)*)4&%62*)4()*"/+&%(/5*.1".31*&%*)41&/*'"$%)/5*)/$2)2*"/7(%&2()&"%(3*(+;"'()129*a$)*)41/1*(/1*
2&7%&0&'(%)*+&001/1%'12*('/"22*<$/".19*L41*.1/'1.)&"%*"0*";1/(33*.$83&'*)/$2)*&%*(+;"'()12*&2*3"?12)*&%*b1/#(%5>*:/(%'1>*,"3(%+> )41*c%&)1+*
A&%7+"#*(%+*d)(35P*(%+*4&7412)*&%*d/13(%+>*:&%3(%+>*U"/?(5>*(%+*X?1+1%9
L41*0&%+&%72*(8"$)*.$83&'*)/$2)*&%*+&001/1%)*2.1(61/2*(/1*.(/)35*&%*3&%1*?&)4*./1;&"$2*/121(/'4*8(21+*"%*2)(614"3+1/*2$/;152*(%+ .$83&'*
".&%&"%*."3329*!"##$%&'()&"%*./"0122&"%(32*)4&%6*)4()*1#.3"5112*(/1*#"/1*)/$2)1+*)4(%*)41#213;12>*8$)*%")*(2*#$'4*(2*)41*3&)1/()$/1*
2$7712)29*,/(')&)&"%1/2*4(;1*(32">*'"%)/(/5*)"*?4()*)41*3&)1/()$/1*2(52>*(*2)/"%7*'"%0&+1%'1*&%*)41*)/$2)*.1".31*4(;1*&%*31(+1/2 "0*)41&/*
"/7(%&2()&"%29

34
!"#$%&'()"*('%+',)-.+%*.(%,+.$'./0,&.(1*2'34(1)+.$'1451)(*6'*"55,)(1)*6'(,5'7.+.-1)*''
.+/'175$,811*'.)1'7,)1'()"*(1/'(9.+'&,77"+%&.(%,+'5).&(%(%,+1)*
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.3893:.#$%%&'(#)*($'.;+$0,11($')21".< =>.?'.)@@(*($'.*$.#$%%&'(#)*($'.;+$0,11($')21
*A,+,.)+,.%)'B.$*A,+1.!A$.#)'.1;,)C.$'.D,A)20.$0.)'.$+E)'(1)*($'>.*$;.%)')E,+18.%)+C,*('E.;+$0,11($')218.)22.$0.*A,.$+E)'(1)*($'F1.,%;2$B,,18
,G*,+')2.,G;,+*18.$+.,G*,+')2.#&1*$%,+1-#2(,'*1".HA('C('E.$0.B$&+.$+E)'(1)*($'8.A$!.%&#A.@$.$+@(')+B.;,$;2,.('.B$&+.#$&'*+B.I*A, E,',+)2.;$;&2)*($'J
*+&1*.*A,1,.#$%%&'(#)*$+1K.L#)2,.5.IL*+$'E.@(1*+&1*J.M 9.IL*+$'E.*+&1*J".N,+#,'*)E,1>.O+,P&,'#B.D)1,@.$'.1#)2,.;$('*1.=Q9".R,)'.S)2&,1"
T4"UV
::"TV
:U"6V
:5"4V
:4":V
=U"3V
U5":V
U"WT
U"W4
U"T9
U"T4
U":W
U"U=
U"49
XG*,+')2.,G;,+*1.('.*A,.0(,2@.I,"E"
;+$0,11$+18.#$'1&2*)'*1J
Y,)@,+1.$0.%B.$+E)'(1)*($'.IZX[18.D$)+@
%,%D,+18.*$;.,G,#&*(S,1J
XG*,+')2.1&;;$+*,+1-0)'1.$+
#&1*$%,+1-#2(,'*1.$0.%B.$+E)'(1)*($'
[*A,+.,%;2$B,,1-%,%D,+1.$0.%B
$+E)'(1)*($'
Z$%%&'(#)*($'.)'@.;&D2(#.+,2)*($'1
;+)#*(*($',+1.$0.%B.$+E)'(1)*($'
R)+C,*('E.)'@.1)2,1.+,;+,1,'*)*(S,1.$0
%B.$+E)'(1)*($'
#*(S(1*1.)'@.$*A,+.,G*,+')2.$+E)'(1)*($'1
!(*A.*A,(+.$!'.)E,'@)
I5J.L*+$'E.@(1*+&1* L*+$'E.*+&1* I9JI3J I=JIUJ
!"#$"%&"'()#*+)(,-(,#'%./#0(1",12"(3)4"(5"."#/2(1,1*2/)%,.6(%.(7

35
!"##
!"#!
!"$#
!"%&
!"$'
!"()
!"'$
!"&)
!"$&
!"%#
!"%#
!"$!
!"!&
!"')
!"&%
!"#!
!"#$
!"$'
!"#*
!"('
!"*)
!"#'
!"$(
!"%&
!"$*
!"%'
!"*#
!"')
+,-./0123
4,5260-207/89,6:/013/71,03
;,0<.6,=179,6:/013/71,03
+,03>87/0?1239@9A:20?123
B*C9D76,0:9E1376>37 D76,0:976>379BFC
GH7260/892H.267391097I29=128E
B2":"9.6,=233,63J9?,03>87/073C9K999999
+,-->01?/71,09/0E9.>L81?9628/71,039
.6/?7171,02639,=9-M9,6:/013/71,09KK
N7I2692-.8,M223O-2-L263
,=9-M9,6:/013/71,0
GH7260/893>..,67263O=/039,69
?>37,-263O?8120739,=9-M9,6:/013/71,09KK
P2/E2639,=9-M9,6:/013/71,0
B+GN3J9L,/6E9-2-L263J97,.92H2?>71523C
A?71513739/0E9,7I2692H7260/89
,6:/013/71,039Q17I97I2169,Q09/:20E/
R/6S2710:9/0E93/823962.623207/71523999999999999999999999999
,=9-M9,6:/013/71,09KK
!"#$%&%&'()"*+,'"-&(.+&(+('(/0"'1&%*+"#%)+0234&$+%"2*%+&(+)5%)"(#4+)50)"%*6+)5%)"(#4+
*200'"%)"*+#(7+!8+0"'1)**&'(#4*+9&.9)"+%9#(+0))"*+&(+'%9)"+'".#(&*#%&'(*
QQQ"?,-->01?/71,0-,017,6"2> O9T26=/339279/8"9)'*&9O909U9)JF)%9?,-->01?/71,09.6,=2331,0/83"9V (W9X09/EE171,097,9?,-->01?/71,09.6,=2331,0/8397I2629/629
-/0M9,7I2639QI,9?/093.2/S9,09L2I/8=9,=9/09,6:/013/71,0W97,.9-/0/:263J9-/6S2710:9.6,=2331,0/83J9/889,=97I29,6:/013/71,0Y392-.8,M223J92H7260/892H.2673J9,69
2H7260/89?>37,-263O?812073"9ZI10S10:9,=9M,>69,6:/013/71,0J9I,Q9->?I9E,9,6E10/6M9.2,.829109M,>69?,>076M9B7I29:2026/89.,.>8/71,0C976>3797I2329?,-->01?/7,63[9
D?/829*9BD76,0:9E1376>37C9 F9BD76,0:976>37C"9R2/095/8>23"9KK9]1:I8M931:01=1?/079E1==2620?239BA;N^AJ9.9_9'"'*C"9K9D1:01=1?/079E1==2620?239BA;N^AJ9.9_9'"'FC"
!"#$"%&"'()#*+)(,-(,#'%./#0(1",12"(3)4"(5"."#/2(1,1*2/)%,.6(%.(7

36
!"#$%&&'()*&+,'-$).-'+/'-01.#'.(#%2+/3'1/'*#0%&4'14'1$3%/+.%-+1/.5
61.-'($%,-+-+1/#$.'$#(1$-'%*1)-'(1.+-+"#'1$'/#)-$%&'%--+-)7#.
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.3893:.#$%%&'(#)*($'.;+$0,11($')21".<.=>.?'.)@@(*($'.*$.#$%%&'(#)*($'.;+$0,11($')21.*A,+,.)+,
%)'B.$*A,+1.!A$.#)' 1;,)C.$'.D,A)20.$0.)'.$+E)'(1)*($'>.*$;.%)')E,+18.%)+C,*('E.;+$0,11($')218.)22.$0.*A,.$+E)'(1)*($'F1.,%;2$B,,18.,G*,+')2.,G;,+*18.$+
,G*,+')2.#&1*$%,+1-#2(,'*1".HA('C('E.$0.B$&+ $+E)'(1)*($'8.A$!.%&#A.@$.$+@(')+B.;,$;2,.('.B$&+.#$&'*+B.I*A,.E,',+)2.;$;&2)*($'J.*+&1*.*A,1,.#$%%&'(#)*$+1K
IL$%%&'(#)*($'-MN8.O)+C,*('E-P)2,18.Q,)@,+18.R*A,+ ,%;2$B,,18.SG*,+')2.,G;,+*18.SG*,+')2.1&;;$+*,+18.SG*,+')2.)#*(T(1*1J".P#)2,.5.IP*+$'E.@(1*+&1*J.U 9.IP*+$'E
*+&1*J".?'@,G.D)1,@.$'.%,)'.T)2&,1.0$+.)22.('*,+')2.)@T$#)*,1.IL$%%&'(#)*($'-MN8.O)+C,*('E-P)2,18.Q,)@,+18.R*A,+.,%;2$B,,1J>.V(1*+&1*.I5"44W3"=6J8.X,&*+)2.
I3"94WY"94J8.H+&1*.IY"95W9"44J"
V(1*+&1*.('.)@T$#)*,1
="=Z
X,&*+)2
=Y"3Z
H+&1*.('.)@T$#)*,1
93"9Z
!"#$"%&"'()#*+)(,-(,#'%./#0(1",12"(3)4"(5"."#/2(1,1*2/)%,.6(%.(/22(/'&,$/)"+

37
!"#$%&&'()*&+,'-$).-'+/'%0"1,%-#.'0+22#$.'.+3/+2+,%/-&4'%,$1..'5)$1(#6
7#$8%/49':$%/,#9';1&%/09'<='%/0'>-%&4'%$#'&%33+/3'*#?+/0
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.38396.#$%%&'(#)*($'.:+$0,11($')21.0+$%.33.#$&'*+(,1".; <=.>'.)??(*($'.*$.#$%%&'(#)*($'.:+$0,11($@
')21 *A,+,.)+,.%)'B.$*A,+1.!A$.#)'.1:,)C.$'.D,A)20.$0.)'.$+E)'(1)*($'=.*$:.%)')E,+18.%)+C,*('E.:+$0,11($')218.)22.$0.*A,.$+E)'(1)*($'F1.,%:2$B,,18.,G*,+')2.
,G:,+*18.$+.,G*,+')2.#&1*$%,+1-#2(,'*1".HA('C('E.$0.B$&+.$+E)'(1)*($'8.A$!.%&#A.?$.$+?(')+B.:,$:2,.('.B$&+.#$&'*+B.I*A,.E,',+)2.:$:&2)*($'J.*+&1*.*A,1,.#$%@
%&'(#)*$+1K.IL$%%&'(#)*($'-MN8.O)+C,*('E-P)2,18.Q,)?,+18.R*A,+.,%:2$B,,18.SG*,+')2.,G:,+*18.SG*,+')2.1&::$+*,+18.SG*,+')2.)#*(T(1*1J".P#)2,.5.IP*+$'E.?(1@
*+&1*J.U V.IP*+$'E.*+&1*J".>'?,G.D)1,?.$'.%,)'.T)2&,1.0$+.)22.('*,+')2.)?T$#)*,1.IL$%%&'(#)*($'-MN8.O)+C,*('E-P)2,18.Q,)?,+18.R*A,+.,%:2$B,,1J=.W(1*+&1*
I5"44@3"<6J8.X,&*+)2.I3"V4@Y"V4J8.H+&1*.IY"V5@V"44J".Z(EA2B.1(E'(0(#)'*.?(00,+,'#,1.I[XR[8.:.].4"45J"
^,+%)'B.IY"<_J
[&1*+().IY"_5J
P!(*`,+2)'?.IY"9<J
a+)'#,.IY"<bJ
c,2E(&%.IY"VYJ
X,*A,+2)'?1.IY"9YJ
d'(*,?.e('E?$%.IY"V3J
>+,2)'?.IY"b_J
P!,?,'.IY"_VJ
X$+!)B.IY"_6J
a('2)'?.IY"b3J
P:)('.IY"99J
M$+*&E)2.IY"96J
>*)2B.IY"V3J
P2$T,'().IY"_4J
L+$)*().IY"V6J
P,+D().IY"96J
H&+C,B.IY"94J
M$2)'?.IY"V4J
L`,#A .N,:&D2(#.IY"V6J
N$%)'().IY"93J
c&2E)+().IY"9_J
f,1*,+'.S&+$:,
X$+*A,+'.S&+$:,
P$&*A ,+'.S&+$:,
S)1*,+'.S&+$:,
>'?,G.+)'E('E.0+$%.5.IP*+$'E.?(1*+&1*J.U V.IP*+$'E.*+&1*J
5"44.
V"44
V"44

!"#$$%&'%()*+)
,-.$/.&')01-(0)#&/)
01#&(2#1%&34

39
!"#$%&'()*&'*+&,
!"##$%&'()&"%*#(%(+,#,%)*'(%*-).&/,*)"*+(&%*-)(0,1"23,.-4*).$-)*"%*3&55,.,%)*2,/,2-*67.)1$.*89*:(+,*;"'&,)<*=*>$-&%,--*?"$%3)(@2,*
A%-)&)$),*5".*!".B".(),*C)1&'-D*EFFGH9*I&),.()$.,*-1"J-*)1()*)1,.,*&-*"5),%*(*+(B*@,)J,,%*).$-)*2,/,2-*"5*(*B(.)&'$2(.*'"#B(%<*".*
".+(%&-()&"%*(%3*)1,*&%-)&)$)&"%(2*2,/,2*"5*@$-&%,--,-D*,9+9*)1,*5&%(%'&(2*-,')".D*)1,*,%,.+<*-,')".*".*.,)(&2&%+*6K(..&-*=*8&'0-D*EFLFH9
7*0,<*(%),',3,%)*"5*).$-)J".)1&%,--*&-*".+(%&-()&"%(2*"B,%%,--*(%3*).(%-B(.,%'<*672@$ =*M2</,.@"# EFLNO*C3,2#(%D*EFFGO*
;'1%('0,%@,.+ =*P"#2&%-"%D*EFLQH9*P.(%-B(.,%'<*&%'2$3,-*-,/,.(2*3&#,%-&"%-R*-1(.&%+*-$@-)(%)&(2*&%5".#()&"%D*(22"J&%+*-)(0,1"23,.-*)"*
B(.)&'&B(),*&%*&%5".#()&"%*3,'&-&"%-D*B."/&3&%+*&%5".#()&"%*)1()*1"23-*)1,*".+(%&-()&"%*(''"$%)(@2,*(%3*@,&%+*"B,%9*722*)1,-, 3&#,%-&"%-*
'"%).&@$),*)"*@$&23&%+*).$-)*6?(J2&%-D*EFFGH9*7)*)1,*-(#,*)&#,D*).(%-B(.,%)*'"##$%&'()&"%*&-*"5),%*$-,3*(-*(*@$SSJ".3*(%3*&-*3&55&'$2)*)"*
('1&,/,*&%*B.(')&',*6!1.&-),%-,%D*EFFEO*!1.&-),%-,%*=*!".%,2&--,%D*EFLTO*P1(0".D*EFLTH9*U(%<*&--$,-*2&0,*-).(),+&,-*(%3*&%),.%(2*B."',--,-*
(.,*J,22V0,B)*-,'.,)-D*(%3*")1,.-*2&0,*B"2&)&'(2*-)(%3B"&%)-*"5*)1,*)"B*#(%(+,#,%)*#&+1)*1(/,*'"%)."/,.-&(2*,55,')-*J1,%*3,@(),3 "B,%2<9
P1,*C!U*EFLN*(-0,3*'"##$%&'()&"%*B."5,--&"%(2-*(@"$)*)1,*'1(22,%+,-*)1,<*,%'"$%),.*J1,%*).<&%+*)"*@$&23*).$-)*(%3*).(%-B(.,%'<*
5".*".+(%&-()&"%-9*P1,*.,-$2)-*-1"J*)1()*,%1(%'&%+*).$-)*J&)1*-)(0,1"23,.-*&-*(*0,<*+"(2*5".*B.(')&)&"%,.-*&%*)1,&.*3(&2<*J".09*81,%*
'"#B(.&%+*3&55,.,%)*).$-)*"@W,')-D*,%1(%'&%+*).$-)*&%*)1,*".+(%&-()&"%*(%3X".*&)-*@.(%3-*&-*#,%)&"%,3*#"-)*"5),%*6@<*YN9Z*B,. ',%)H9*
C%1(%'&%+*).$-)*"%*)1,*&%-)&)$)&"%(2*2,/,2*"5*)1,*#(.0,)D*@$-&%,--*".*-,')".*.(%0-*-,'"%3*6YE9F*B,.*',%)HD*(%3*,%1(%'&%+*).$-)*&%*
".+(%&-()&"%(2*2,(3,.-*'"#,-*)1&.3*6GN9L*B,.*',%)H9*A%),.,-)&%+2<*-,')".V-B,'&5&'*).$-)*-,,#-*)"*@,*#".,*&#B".)(%)*)1(%*-,/,.(2*<,(.-*(+"D*
J1,%*)1,*#"%&)".*,[B2".,3*)1,*&--$,*5".*)1,*5&.-)*)&#,*6,.5(--*,)*(29D*EFLLD*B9*GGH9
:.(')&)&"%,.-*.,B".)*)1()*).(%-B(.,%'<D*3,5&%,3*(-*),22&%+*J1()*<"$*0%"J*(%3*3&-'2"-&%+*'"%),[)-D*&-*)1,*#"-)*3&55&'$2)*)"*('1&,/,*(%3*
)1,.,5".,*)1,*@&++,-)*'1(22,%+,*"5*).$-)V@$&23&%+*'"##$%&'()&"%9*U"-)*.,-B"%3,%)-*6GL9F*B,.*',%)H*)1&%0*)1()*)1&-*&-*-"#,)&#,-D*"5),%*".*
(2J(<-*'1(22,%+&%+9*>,&%+*0%"J2,3+,(@2,*(%3*@,&%+*,)1&'(2*(.,*'"%-&3,.,3*2,--*B."@2,#()&'9
P1,*-)$3<*-1"J-*J1<*&)*&-*1(.3*)"*'"##$%&'(),*).(%-B(.,%)2<*&%*)1,*J".23*"5*@$-&%,--*(%3*".+(%&-()&"%-9*:.(')&)&"%,.-*5&%3*&) #"-)*
3&55&'$2)*)"*'"##$%&'(),*).(%-B(.,%)2<*(@"$)*)1,*B"2&)&'(2*-)(%',*"5*)1,&.*2,(3,.-1&B*),(#*6]L9L*B,.*',%)*)1&%0*)1&-*&-*3&55&'$2)H*(%3*(@"$)*
&%),.%(2*B."',--,-*(%3*J".052"J-*6ZT9L*B,.*',%)H9*>,&%+*).(%-B(.,%)*(@"$)*,#B2"<,,-*".*#,#@,.-*(%3*)"BV2,/,2*-).(),+&,-*&-*(2-"*)"$+1*
6.,B".),3*@<*E]9E*X*EZ9Q*B,.*',%)H9*7''".3&%+*)"*)1,*.,-B"%3,%)-D*&)*&-*#$'1*,(-&,.*5".*".+(%&-()&"%-*)"*@,*).(%-B(.,%)*(@"$) )1,&.*B$.B"-,D*
#&--&"%*(%3*/&-&"%*6"%2<*G9G*B,.*',%)*)1&%0*)1&-*&-*3&55&'$2)H*(%3*(@"$)*)1,&.*B."3$')-*(%3*-,./&',-*6LF9N*B,.*',%)H9*7%*"/,.(22 P.(%-B(.,%'<*
A%3,[*@(-,3*"%*),%*3&55,.,%)*&),#-*-1"J-*)1()*".+(%&-()&"%-*5."#*^".)1,.%*C$."B,*5&%3*&)*2,--*3&55&'$2)*)"*@,*).(%-B(.,%)*)1(%*
".+(%&-()&"%-*5."#*")1,.*B(.)-*"5*C$."B,9
P"*'"%'2$3,D*)1,*.,-$2)-*-1"J*)1()*).(%-B(.,%)*'"##$%&'()&"%*&-*%")*,(-<*)"*('1&,/,*5".*".+(%&-()&"%-*_ @")1*(@"$)*(-B,')-*
@,2"%+&%+*)"*J1()*)1,*!"##&)),,*5".*C'"%"#&'*`,/,2"B#,%)*6LNGLH*'(22,3*)1,*"$),.*'&.'2,*"5*-"'&(2*.,-B"%-&@&2&)<*"5*".+(%&-()&"%-*6)1,&.*
."2,*&%*-"'&,)<H*(%3*(@"$)*(-B,')-*"5*)1,&.*&%%,.*'&.'2,*"5*.,-B"%-&@&2&)<D*&9,9*)1,*,55&'&,%)*,[,'$)&"%*"5*,'"%"#&'*)(-0-9*A)*-,,#-*,-B,'&(22<*
3&55&'$2)*)"*@,*).(%-B(.,%)*(@"$)*-).(),+&,-*(%3*B."',--,-*$-,3*)"*.,('1*".+(%&-()&"%(2*+"(2-9

40
!"#$%
!&#'%
("#)%
*+,-+./01234105+0670829-+54-158+0-+:;8205140<2-+:4
*+,-+./01234105+083206-2=/1>0<345+/4408204/.18208?048.5/17
*+,-+./01234105+0@/-:/2408?0670829-+54-158+
!"#$"%&"'()*+,)(-.(,)$/0#1230*,(&,($(/0.('1$2(41*(%155+"&%$)&1"(6*140,,&1"$2,(7
$"3(5$&"2.(41%+,03(1"()#0(1*'$"&,$)&1"($"3(&),(-*$"3,
AAA#.8663+5.-158+68+5182#/3 ;0B/2?-440/10-@#0&')"0;0+0C0&>D!"0.8663+5.-158+0E28?/4458+-@4#0F GH0I8663+5.-158+06-+-9/6/+106-704125J/01809-5+0
41-=/,8@:/24K01234108+0:5??/2/+10@/J/@4#0L8A02/@/J-+10-2/0/-.,08?01,/0?8@@8A5+9098-@405+078320:-5@70A82=M0B/2?-440/10-@#0&'))0;0+0C)>NG'0;0F0"#0O.-@/0)0PQ8102/@/J-+1R0
S G0PT/2702/@/J-+1R#0U/2./+1-9/4H0V2/W3/+.70<-4/:08+04.-@/0E85+140NXG#0F0!H0Y,5.,05443/40A5@@0</06841056E821-+10?820.8663+5.-158+06-+-9/6/+1;UZ0A51,5+01,/0+/[10
1,2//07/-240?286078320E85+108?0J5/AM0U@/-4/0E5.=0/[-.1@70$051/64#0U/2./+1-9/4H0V2/W3/+.70<-4/:08+04/@/.158+0-408EX$05443/#
!"#$%&'(&)*+&,#'$-&."/0&"1&2"334('2#)'"(&5/"1+%%'"(#$%
!"#$%
2-1/0]<35@:5+90-+:06-5+1-5+5+9012341^
-408+/08?01,/018E01,2//0412-1/95.05443/4
?820.8663+5.-158+403+15@0&'&&
&'()'*+,-./0-,1',2 345$ 3455 6
_29-+54-158+;<2-+:4 !"#$% "$#&% X N#"
`-2=/14 !&#'% (D#!% a0G#&
b/-:/24 ("#)% ("#$% X '#&

41
!"#$%&'#()*(+,-./"-)01*0"$-($-2"13%($0*-4/$%-(+%0+$(50)6-(+-7/(+%-$%/38-3/421+(0$-
1+*-,/50"+40+%&/9+0*:-2#')(3-$03%/"-1+*-2/)(%(31)-/",1+($1%(/+$
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.389:6.#$%%&'(#)*($'.;+$0,11($')21".< =>.?$%%&'(#)*($'.%)')@,%,'*.%)A.1*+(B,.*$.@)('
1*)C,D$2E,+1F.*+&1*.$'.E(00,+,'*.2,B,21".G$!.+,2,B)'*.)+,.,)#D.$0.*D,.0$22$!('@.@$)21.('.A$&+.E)(2A.!$+CH.I#)2,.5.JK$*.+,2,B)'*L.M =.JN,+A.+,2,B)'*L".
O,+#,'*)@,1>.P+,Q&,'#A.R)1,E.$'.1#)2,.;$('*1.ST=".UU.G(@D2A.1(@'(0(#)'*.E(00,+,'#,1.J#D(T1Q&)+,.*,1*8.;.V.4"45L"
64"9W
:S"9W
:S":W
:6"XW
:3"5W
X:"YW
::"SW
X:"=W
:4":W
64"YW
:Y"5W
X3"5W
::"5W
:5"9W
XX"XW
Z'D)'#,.*+&1*.('.%A.$+@)'(1)*($'.)'E-$+.(*1.R+)'E1
Z'D)'#,.*+&1*.('.$&+.%)+C,*8.R&1(',11.$+.1,#*$+.$0
1$#(,*A
Z'D)'#,.*+&1*.('.2,)E,+1.$0.%A.$+@)'(1)*($'.UU
[$('*.1*$#C.#$%;)'(,1
O+(B)*,.#$%;)'(,1
$B,+'%,'*)2.$+@)'(1)*($'1
K$'T;+$0(*.$+@)'(1)*($'1
?$'1&2*)'#(,1.].^@,'#(,1
!"#$%&'(&)*+&,#'$-&."/0&"1&2"334('2#)'"(&5/"1+%%'"(#$%

42
!"#$%&"'&()$%(*+$,-.,/0&#"11$/,#2(,"/&2#)"%%&3$)"45
!"#$"%&'()*+(',"
-.'/)0$",+$(,/"'
$"12/)',(+'3)$"1+
!"#$"%&'()*+(',"'/*)'
-$)4&(5'3*+,"&++'/)'
+&%(/)'/6'+/%,&(.
!"#$"%&'()*+(
,"'7&$1&)+'/6
-.'/)0$",+$(,/"
!"#$"%&'()*+(',"
-.'/)0$",+$(,/"'
$"12/)',(+'3)$"1+
!"#$"%&'()*+(',"'/*)'
-$)4&(5'3*+,"&++'/)'
+&%(/)'/6'+/%,&(.
!"#$"%&'()*+(
,"'7&$1&)+'/6'-.'
/)0$",+$(,/"
8&)-$". 9:;<= ><;?= >:;@= AB$," 9?;C= >?;D= 9C;D=
E*+(),$ >>;C= >:;?= >@;:= F/)(*0$7 9D;:= 9C;?= >?;G=
AH,(I&)7$"1 9:;>= >:;?= >G;J= K($7. >D;J= J>;?= J@;C=
L)$"%& >G;>= JG;C= JC;J= A7/M&",$ 9C;@= >D;J= >@;D=
N&70,*- 9:;D= >:;>= ?>;>= O)/$(,$ >?;>= J>;:= >C;D=
P&(#&)7$"1+ 9:;9= >:;?= JD;J= A&)3,$ >9;:= >9;:= >C;G=
Q",(&1'
R,"01/- 9G;C= >@;?= >:;9= S*)4&. >D;@= JD;<= ><;9=
K)&7$"1 9G;C= 9<;G= ><;>= F/7$"1 >@;9= J>;?= ?9;?=
AH&1&" 9G;C= >@;J= J9;>=
OI&%#'
T&B*37,% >J;D= >@;@= ??;J=
P/)H$. >>;C= >J;:= JJ;?= T/-$",$ >:;:= JJ;<= JJ;<=
L,"7$"1 9<;?= >J;D= J9;C= N*70$),$ >C;<= ><;<= J>;<=
HHH;%/--*",%$(,/"-/",(/);&* 2'U&)6$++'&('$7;'C<:9'2'"'V'C5GC<'%/--*",%$(,/"'B)/6&++,/"$7+'6)/-'CC'%/*"(),&+;'W DX'O/--*",%$(,/"'-$"$0&-&"('-$.
+(),M&'(/'0$,"'+($4&#/71&)+Y'()*+('/"'1,66&)&"('7&M&7+;'Z/H')&7&M$"('$)&'&$%#'/6'(#&'6/77/H,"0'0/$7+',"'./*)'1$,7.'H/)4['A%$7&':'P/(')&7&M$"(]'^ D'_&).')&7&M$"(];
F&)%&"($0&+X'L)&`*&"%.'3$+&1'/"'+%$7&'B/,"(+'GaD;

43
!"#$$%&'%()*+),-.(,/0.1$21&')3*44.&13#,1*&5
6-#&(7#-%&38)1()4*(,)21++13.$,),*)#3"1%9%
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.389:6.#$%%&'(#)*($'.;+$0,11($')21".< 9=.>&(2?('@.*+&1*.*A+$&@A.#$%%&'(#)*($'.#)'.B,.?(00(#&2*"
C+,D($&1.+,1,)+#A.1A$!1.*A)*.#$%%&'(#)*($'.',,?1.*$.B,.B)1,?.$'.E'$!2,?@,8.)'?.(*.1A$&2?.B,.*+)'1;)+,'*.)'?.,*A(#)28.*$$".FA(1.(1.1$%,*(%,1.'$*.,)1G.*$
)#A(,D,".>)1,?.$'.G$&+.,H;,+(,'#,8.A$!.#A)22,'@('@.(1.(*.*$.%,,*.*A,.0$22$!('@.)1;,#*1.!A,'.#$%%&'(#)*('@.!(*A.1*)E,A$2?,+1I.J#)2,.5.KL,D,+.#A)22,'@('@M.N
O.KP2!)G1.#A)22,'@('@M".
!"#$$%&'%()*"%&)+,--.&/+#0/&')*/0")(0#1%",$2%3(
36"4Q
R9"SQ
TS"9Q
3T"5Q
35"RQ
56"OQ
T9"6Q
T3"4Q
R3"6Q
4Q 544Q
>,('@.*+)'1;)+,'*
K*,22('@.!A)*.G$&.E'$!.)'?.?(1#2$1('@.#$'*,H*1M
>,('@.E'$!2,?@,)B2,
KB)1,?.$'.0)#*1.)'?.0$#&1,?.$'.;+$B2,%U1$2D('@M
>,('@.,*A(#)2
K)?A,+('@.*$.%$+)2.)'?.'$+%)*(D,.,H;,#*)*($'1M
L,D,+.$+.1,2?$%
#A)22,'@('@.K1#)2,.5U3M
J$%,*(%,1
#A)22,'@('@.K1#)2,.RM
V0*,'.$+.)2!)G1
#A)22,'@('@.K1#)2,.TUOM

44
!"#$%&%&'()"*+,'"-&(.+&(+.'/)"(0)(%#1+'".#(&*#%&'(*+#(2+3'&(%4*%'$-+$'05#(&)*+
6&(2+&%+)*5)$&#117+8#"2+%'+9)+%"#(*5#")(%
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.389:6.#$%%&'(#)*($'.;+$0,11($')21".< 9=.>&(2?('@.*+&1*.*A+$&@A.#$%%&'(#)*($'.#)'.B,.?(00(#&2*"
C+,D($&1.+,1,)+#A.1A$!1.*A)*.#$%%&'(#)*($'.',,?1.*$.B,.B)1,?.$'.E'$!2,?@,8.)'?.(*.1A$&2?.B,.*+)'1;)+,'*.)'?.,*A(#)28.*$$".FA(1.(1.1$%,*(%,1.'$*.,)1G.*$
)#A(,D,".>)1,?.$'.G$&+.,H;,+(,'#,8.A$!.#A)22,'@('@.(1.(*.*$.%,,*.*A,.0$22$!('@.)1;,#*1.!A,'.#$%%&'(#)*('@.!(*A.1*)E,A$2?,+1I.J#)2,.5.KL,D,+.#A)22,'@('@M.N
O.KP2!)G1.#A)22,'@('@M".Q+,R&,'#G.B)1,?.$'.1#)2,.;$('*1.STO".UU.V(@A2G.1(@'(0(#)'*.?(00,+,'#,1.K#A(T1R&)+,.*,1*8.;.W.4"45M"
!"#$$%&'%()*"%&)+,--.&/+#0/&')*/0")(0#1%",$2%3(
S:"OX
Y:"SX
Y4"OX
S9"OX
SY"4X
YY"OX
O5"3X
SY"3X
Y5":X
Y9"9X
YY":X
35"SX
SZ"SX
SO"6X
Y:":X
>,('@.*+)'1;)+,'*
K*,22('@.!A)*.G$&.E'$!.)'?.?(1#2$1('@.#$'*,H*1M.UU
>,('@.E'$!2,?@,)B2,
KB)1,?.$'.0)#*1.)'?.0$#&1,?.$'.;+$B2,%T1$2D('@M.UU
>,('@.,*A(#)2
K)?A,+('@.*$.%$+)2.)'?.'$+%)*(D,.,H;,#*)*($'1M.UU
[$('*.1*$#E.#$%;)'(,1
C+(D)*,.#$%;)'(,1
$D,+'%,'*)2.$+@)'(1)*($'1
L$'T;+$0(*.$+@)'(1)*($'1
]$'1&2*)'#(,1.^.P@,'#(,1

45
!"#$%$"$&"'(%#)*%+,)(-./#)/(%#'"%$,'"%+,)+"')"*%#&,-/%&"0)1%/'#)(2#'")/%#)*%
3),4."*1"#&."%/5#)%+,$$-)0+#/0,)%."#*"'(
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.3895:.#$%%&'(#)*($'.;+$0,11($')21".< =>.?&(2@('A.*+&1*.*B+$&AB.#$%%&'(#)*($'.#)'.C,.@(00(#&2*"
D+,E($&1.+,1,)+#B.1B$!1.*B)*.#$%%&'(#)*($'.',,@1.*$.C,.C)1,@.$'.F'$!2,@A,8.)'@.(*.1B$&2@.C,.*+)'1;)+,'*.)'@.,*B(#)28.*$$".GB(1.(1.1$%,*(%,1.'$*.,)1H.*$
)#B(,E,".?)1,@.$'.H$&+.,I;,+(,'#,8.B$!.#B)22,'A('A.(1.(*.*$.%,,*.*B,.0$22$!('A.)1;,#*1.!B,'.#$%%&'(#)*('A.!(*B.1*)F,B$2@,+1J.K#)2,.5.LM,E,+.#B)22,'A('AN.O
9.LP2!)H1.#B)22,'A('AN".Q+,R&,'#H.C)1,@.$'.1#)2,.;$('*1.:S9".TT.U(AB2H.1(A'(0(#)'*.@(00,+,'#,1.L#B(S1R&)+,.*,1*8.;.V.4"45N".T.K(A'(0(#)'*.@(00,+,'#,1.L#B(S1R&)+,.*,1*8.;.V.4"49N"
:9"5W
:5"3W
X:"9W
:Y"=W
:5"YW
3Z"6W
:6"XW
:X"3W
XX"6W
?,('A.*+)'1;)+,'*
L*,22('A.!B)*.H$&.F'$!.)'@.@(1#2$1('A.#$'*,I*1N.T
?,('A.F'$!2,@A,)C2,
LC)1,@.$'.0)#*1.)'@.0$#&1,@.$'.;+ $C2,%S1$2E('AN.TT
?,('A.,*B(#)2
L)@B,+('A.*$.%$+)2.)'@.'$+%)*(E,.,I;,#*)*($'1N.TT
U,)@.$0.#$%%&'(#)*($'.-
PA,'#H.[]
^'(*.2,)@,+.-
G,)%.2,)@,+
G,)%.%,%C,+.-
[$'1&2*)'*
!"#$$%&'%()*"%&)+,--.&/+#0/&')*/0")(0#1%",$2%3(

46
!!"#$
!%"&$
'%"#$
(("!$
'(")$
()"($
''"&$
'*"+$
*+")$
+!"&$
%'"+$
!%",$
%!"+$
!%"&$
%("&$
!%"%$
%'"&$
%'",$
%&"($
,"%$
(#"#$
!'"#$
%("%$
%!"*$
%#"($
%&"($
%&"&$
#)"!$
#&",$
)")$
&$ #&&$
-./01023/45136274.841974/73:7;590<4173=
>617;63/4<;.275575436:4?.;@8/.?5
A.<B/7C7/451;317D0754E7"D"42.;<.;317F.;D3605310.63/G4HI506755J
K=</.L775F=7=H7;5436:4/73:7;590<4<;3210275
>=<3214.645.2071L4314/3;D7
MI6210.63/451;317D0754E7"D"4NOG4>AG457;C027G4H;36:06DJ
P.C7;63627436:42I/1I;7
>=<3214.641974=3;@71G4HI5067554.;45721.;4.845.2071L
-;.:I2154.;457;C0275
-I;<.57G4=0550.6G436:4C050.6
Q.14.;45/0D91/L4:08802I/1
E523/74#B%J
M30;/L4:08802I/1
E523/74!J
ER7;LJ4:08802I/1
E523/74(B'J
!"#$%&#"'$()*+$*(,--.$+(#/+,$%**
???"2.==I602310.6=.601.;"7I F4S7;835547143/"4%&#,4F464T4%G',*42.==I602310.64<;.87550.63/5"4U )V4A;365<3;762L42364769362741;I51"4WI145.=74068.;=310.64
=0D9146.14H743227550H/741.42.==I602310.64<;.87550.63/5G436:45.=74832154=3L46.14H745I013H/748.;4593;06D4<IH/02/L"4N.?4:08802I/140540148.;4L.I;4.;D3605310.641.4H74
1;365<3;76143H.I1V4X4Y23/74#4EQ.14:08802I/1J4Z '4ER7;L4:08802I/1J"4
!"#$%&#"'$()*#$+*,"-%,*
.$*&"/0'%%./$#1%
O75<.6:761547[<7;076206D4/7554:08802I/10754
?0194H706D41;365<3;7614;7<.;143490D97;4/7C7/4
.841;I514064197=57/C75436:41970;4:7<3;1=7615
!"#$%&''&()*+$&+$&,$'"-$"-./0&,/+&"0,$+"$12$+-/0,3/-20+$/1")+$-2*24/0+$+"3&(,

47
!"#$%&'()*+'&,*'-*()$(.'%//0*1%2,*-"*3(*-2%&)$%2(&-*%3"4-*-1(*$"/'-'.%/*#'&,)(-*"+*
-"$*(5(.4-'6()7*'&-(2&%/*#%&%8(#(&-*)0)-(#)*%&,*)-2%-(8'()
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.3896:.#$%%&'(#)*($'.;+$0,11($')21".< =>.?+)'1;)+,'#@.#)'.,'A)'#,.*+&1*".B&*.1$%,.('0$+%)*($'.
%(CA*.'$*.D,.)##,11(D2,.*$.#$%%&'(#)*($'.;+$0,11($')218.)'E.1$%,.0)#*1.%)@.'$*.D,.1&(*)D2,.0$+.1A)+('C.;&D2(#2@"..F$!.E(00(#&2*.(1.(*.0$+.@$&+.$+C)'(1)*($'.*$.
D,.*+)'1;)+,'*.)D$&*>.G.H#)2,.5.IJ$*.E(00(#&2*K.L 9.IM,+@.E(00(#&2*K".N+,O&,'#@.D)1,E.$'.1#)2,.;$('*1.PQ9".RR.F(CA2@.1(C'(0(#)'*.E(00,+,'#,1.I#A(Q1O&)+,.*,1*8.
;.S.4"45K".R.H(C'(0(#)'*.E(00,+,'#,1.I#A(Q1O&)+,.*,1*8.;.S.4"49K"
PP"9T
U9":T
3:"UT
33"4T
34"PT
33"VT
5="3T
5="5T
54"6T
V"4T
U:"UT
UV"UT
5V"=T
3="9T
34"5T
56":T
3:"UT
5V"9T
55"UT
V"UT
U9"3T
U:"6T
35"UT
39"VT
56"9T
5V"VT
3P"4T
59"=T
6"PT
:"UT
P5"5T
U5"=T
39"3T
33"6T
3P"UT
5="6T
56"5T
5="9T
55"UT
=":T
W$2(*(#)2.1*)'#,.$0.*A,.2,)E,+1A(;.*,)%.R
X'*,+')2.;+$#,11,1.)'E.!$+Y02$!1.RR
?$;Q2,Z,2.1*+)*,C(,1.I,"C".#$+;$+)*,-$+C)'(1)*($')28.D&1(',11K.RR
[%;2$@,,1-%,%D,+1.)'E.2,)E,+1A(;.;+)#*(#,1.RR
X%;)#*.$'.1$#(,*@.)*.2)+C,.RR
N&'#*($')2.1*+)*,C(,1.I,"C".F8.X?8.1,+Z(#,8.D+)'E('C.1*+)*,C(,1K
]$Z,+')'#,.)'E.#&2*&+,.RR
X%;)#*.$'.*A,.%)+Y,*8.D&1(',11.$+.1,#*$+.$0.1$#(,*@.R
W+$E&#*1.$+.1,+Z(#,1
W&+;$1,8.%(11($'8.)'E.Z(1($'.RR
^$%;)'(,1
]$Z,+'%,'*)2.$+C)'(1)*($'1
J$'Q;+$0(*.$+C)'(1)*($'1
^$'1&2*)'#(,1._.`C,'#(,1
!"#$%&''&()*+$&+$&,$'"-$"-./0&,/+&"0,$+"$12$+-/0,3/-20+$/1")+$-2*24/0+$+"3&(,

48
!"#$
$"%&
$"&!
$"&'
$"'#
$"!%
$"$(
$"!'
#"%%
#"'(
!"#)
!"*)
$"+'
$"('
$"($
$"'%
$"'%
$"''
$"#*
#"(!
!"#&
!"*+
$")$
$"(+
$"(%
$"&!
$"(#
$"&#
$"*%
#"(%
,-./012031445673.871609
:;-63<0=>?
@6780A-./-B09
C-.40A-./-B
C-.404-4D-B09
=16E5A8.68
F#G0H180/722735A8 I-B<0/722735A80F&G
J1A7873.A0E8.63-01208K-0A-./-BEK7L08-.40
F!G
M68-B6.A0LB13-EE-E0.6/0N1BO2A1NE0P
C1LQA-R-A0E8B.8-;7-E0F-";"031BL1B.8-91B;.67E.8716.AS0D5E76-EEG0PP
>4LA1<--E94-4D-BE0.6/0A-./-BEK7L0LB.3873-E0PP
M4L.380160E137-8<0.80A.B;-0PP
T5638716.A0E8B.8-;7-E0F-";"0,US0MCS0E-BR73-S0DB.6/76;G0P0
V1R-B6.63-0.6/035A85B-0PP
M4L.3801608K-04.BO-8S0D5E76-EE01B0E-381B0120E137-8<0PP0
JB1/538E01B0E-BR73-E0P
J5BL1E-S047EE716S0
.6/0R7E7160PP0
!"##$%&'()&"%*+,(-,./*/,,*+,//*-&00&'$+)&,/*0".*".1(%&/()&"%/*)"*2,*).(%/3(.,%)*4
3."2(2+5*-$,*)"*&%0".#()&"%*-&00,.,%',/*2,)6,,%*."+,*+,7,+/
NNN"31445673.8716416781B"-5 90W-B2.EE0-80.A"0$*#%09060X0$S'!*031445673.87160LB12-EE716.AE"0Y +Z0CB.6EL.B-63<03.60-6K.63-08B5E8"0[580E14-07621B4.8716
47;K806180D-0.33-EE7DA-081031445673.87160LB12-EE716.AES0.6/0E14-02.38E04.<06180D-0E578.DA-021B0EK.B76;0L5DA73A<"0,1N0/722735A807E078021B0<15B01B;.67E.8716081
D-08B.6EL.B-680.D158Z00]3.A-0#0FH180/722735A8G0^ &0FI-B<0/722735A8G"0_-.60R.A5-E"0PP0,7;KA<0E7;67273.680/722-B-63-E0F`-6/.AA0B.6O031BB-A.8716S0L0a0*"*#G"
P0]7;67273.680/722-B-63-E0F`-6/.AA0B.6O031BB-A.8716S0L0a0*"*&G"
!"#$%&''&()*+$&+$&,$'"-$"-./0&,/+&"0,$+"$12$+-/0,3/-20+$/1")+$-2*24/0+$+"3&(,

49
!"#$%&#"'$()*+$,'-*./"*(/001$+(#2+/$%3
4"5#$+%#2+/$%*."/0*6/"27'"$*81"/&'*.+$,*+2*9'%%*,+..+(192*2/*:'*2"#$%&#"'$2
!!!"#$%%&'(#)*($'%$'(*$+",& -./,+0)11.,*.)2".3456.-.'.7.38396.#$%%&'(#)*($'.:+$0,11($')21.0+$%.33.#$&'*+(,1".; <=.>+)'1:)+,'#?.#)'.,'@)'#,.*+&1*"
A&*.1$%,.('0$+%)*($'.%(B@*.'$*.C,.)##,11(C2,.*$.#$%%&'(#)*($'.:+$0,11($')218.)'D.1$%,.0)#*1.%)?.'$*.C,.1&(*)C2,.0$+.1@)+('B.:&C2(#2?".E$!.D(00(#&2*.(1.(*.
0$+.?$&+.$+B)'(1)*($'.*$.C,.*+)'1:)+,'*.)C$&*=.F.G#)2,.5.HI$*.D(00(#&2*J.K L.HM,+?.D(00(#&2*J".N'D,O.C)1,D.$'.%,)'.P)2&,1.0$+.)22.54.(*,%1.2(1*,D.$'.:".Q9".
E(B@2?.1(B'(0(#)'*.D(00,+,'#,1.C,*!,,'.#$&'*+(,1.HRISMR8.:.T.4"45J"
U,+%)'?.H3"94J
R&1*+().H3"Q6J
G!(*V,+2)'D.H3"9WJ
X+)'#,.H3"96J
A,2B(&%.H3"LLJ
I,*@,+2)'D1.H3"QYJ
Z'(*,D.[('BD$%.H3"W6J
N+,2)'D.H3"W6J
G!,D,'.H3"56J
I$+!)?.H3"59J
X('2)'D.H3"WLJ
G:)('.H3"Q9J
$+*&B)2.H3"L<J
N*)2?.H3"9LJ
G2$P,'().H3"WYJ
]+$)*().H3"QWJ
G,+C().H3"QWJ
>&+^,?.H3"95J
$2)'D.H3"<LJ
]V,#@._,:&C2(#.H3"9YJ
_$%)'().H3"9QJ
A&2B)+().H3"QLJ
`,1*,+'.a&+$:,
I$+*@,+'.a&+$:,
G$&*@,+'.a&+$:,
a)1*,+'.a&+$:,
5"44.
L"44
L"44
>+)'1:)+,'#?.N'D,O
! _)'B,.5"44.K L"44
! E(B@,+.P)2&,1.('D(#)*,.%$+,.
D(00(#&2*(,1.*$.C,.*+)'1:)+,'*

50
!"#$%&#"'$()*+$*(,--.$+(#/+,$%*+$*0'%/'"$*#$1*2,"/3'"$*4.",&'
!"#$%$&'#(
)%'*&+(",(
%-+(#+'.+/0
)-$1(%+'2
3*%+/*'#(
1/"&+))+)(
'*.(4"/50
,#"4)
6"10#+7+#(
)%/'%+8$+)
921#":++);
2+2<+/)(
'*.(
#+'.+/)-$1(
1/'&%$&+)
321'&%("*(
)"&$+%:('%
#'/8+
=>*&%$"*'#(
)%/'%+8$+)
?"7+/*'*&+(
'*.
&>#%>/+
321'&%("*(
%-+(2'/5+%@(
<>)$*+))("/(
)+&%"/(",(
)"&$+%:(
!/".>&%)(
"/
)+/7$&+)
!>/1")+@(
2$))$"*@(
'*.
7$)$"*
?+/2'*: ABCDE ABCDE FGCFE FHCFE FICIE FACFE JHCJE JHCJE HCKE KCAE
L>)%/$' BACAE BICME FMCKE FJCJE FKCBE JKCFE JACJE JICGE MCAE HCGE
N4$%O+/#'*. AICHE BHCIE FGCDE FFCME FMCFE FHCJE JMCHE FJCME HCBE JFCIE
=/'*&+ BICAE IFCBE BFCBE BICAE FMCFE BFCBE FMCFE FJCIE JFCBE JFCBE
P+#8$>2 AACGE AJCKE FBCFE FBCFE FKCAE FBCHE FICGE FJCAE KCKE KCKE
Q+%-+/#'*.) IJCME BGCBE JMCBE FBCDE FBCKE JKCDE FACAE FDCDE JJCME KCAE
R*$%+.(
S$*8."2 AKCGE BACIE JICIE JHCIE FFCGE JKCBE JACBE JGCKE JDCKE ACHE
3/+#'*. BICBE FMCAE FJCGE BICBE JICKE MCHE JMCGE JICKE JMCGE JJCHE
N4+.+* BGCGE FFCHE FFCHE JKCHE MCME JHCHE MCME GCME ACDE BCDE
Q"/4': FKCAE FHCGE JICIE FDCFE JDCKE JDCKE JACBE JJCME FCAE J@CFE
=$*#'*. BACDE BACDE JBCHE FBCAE JFCHE JGCDE FJCBE JBCHE HCIE KCAE
444C&"22>*$&'%$"*2"*$%"/C+> ;(T+/,'))(+%('#C(FDJM(;(*(U(F@FGM(&"22>*$&'%$"*(1/",+))$"*'#)(,/"2(FF(&">*%/$+)C(V KW(6/'*)1'/+*&:(&'*(+*-'*&+(%/>)%C
P>%()"2+($*,"/2'%$"*(2$8-%(*"%(<+('&&+))$<#+(%"(&"22>*$&'%$"*(1/",+))$"*'#)@('*.()"2+(,'&%)(2':(*"%(<+()>$%'<#+(,"/()-'/$*8(1><#$&#:C(X"4(.$,,$&>#%($)($%(
,"/(:">/("/8'*$)'%$"*(%"(<+(%/'*)1'/+*%('<">%W(Y(N&'#+(J(ZQ"%(.$,,$&>#%[( I(Z]+/:(.$,,$&>#%[C(=/+^>+*&:(<')+.("*()&'#+(1"$*%)(A0IC

51
!"#$%&#"'$()*+$*(,--.$+(#/+,$%*+$*0,./1'"$*#$2*3#%/'"$*3.",&'
!"#$%$&'#(
)%'*&+(",(
%-+(#+'.+/0
)-$1(%+'2
3*%+/*'#(
1/"&+))+)(
'*.(4"/50
,#"4)
6"10#+7+#(
)%/'%+8$+)
921#":++);
2+2<+/)(
'*.(
#+'.+/)-$1(
1/'&%$&+)
321'&%("*(
)"&$+%:('%
#'/8+
=>*&%$"*'#(
)%/'%+8$+)
?"7+/*'*&+(
'*.
&>#%>/+
321'&%("*(
%-+(2'/5+%@(
<>)$*+))("/(
)+&%"/(",(
)"&$+%:(
!/".>&%)(
"/
)+/7$&+)
!>/1")+@(
2$))$"*@(
'*.
7$)$"*
A1'$* BCDBE FGDGE HIDJE HIDJE HKDCE KBDIE HKDCE KHDFE KLDLE BDIE
!"/%>8'# BKDFE FHDCE HMDME HHDCE HCDLE HKDFE HMDME KMDME KLDLE MDME
3%'#: BIDHE FJDGE HJDCE FKDBE HFDGE HIDJE HKDME KGDFE KBDGE KLDFE
A#"7+*$' FIDLE HJDHE HFDIE HFDIE KKDHE KFDCE KFDCE KFDCE CDIE GDJE
N/"'%$' BFDLE HJDJE HCDHE HBDFE KMDGE HFDBE HKDCE KGDME MDBE BDGE
A+/<$' FBDCE FLDKE HBDME KCDLE KMDIE HKDHE HLDBE KCDLE MDLE IDHE
6>/5+: CCDJE FHDBE FLDJE KJDKE HLDIE HHDKE HFDCE KFDHE KIDHE GDBE
!"#'*. BCDKE BKDHE HFDCE HJDBE HFDCE FFDFE FKDBE HCDCE HKDIE JDME
NO+&-(
P+1><#$&
BBDGE BLDBE FBDLE HFDBE HCDCE FKDJE KBDJE HFDBE KJDKE KHDME
P"2'*$' FIDKE HMDFE HJDME HHDJE HFDJE HFDBE HBDBE HFDBE KGDIE KBDKE
Q>#8'/$' FIDGE HMDIE HHDBE KMDBE KIDFE KLDHE KHDHE KMDBE KIDFE IDKE
444D&"22>*$&'%$"*2"*$%"/D+> ;(R+/,'))(+%('#D(HLKJ(;(*(S(H@HIJ(&"22>*$&'%$"*(1/",+))$"*'#)(,/"2(HH(&">*%/$+)D(T GU(6/'*)1'/+*&:(&'*(+*-'*&+(%/>)%D
Q>%()"2+($*,"/2'%$"*(2$8-%(*"%(<+('&&+))$<#+(%"(&"22>*$&'%$"*(1/",+))$"*'#)@('*.()"2+(,'&%)(2':(*"%(<+()>$%'<#+(,"/()-'/$*8(1><#$&#:D(V"4(.$,,$&>#%($)($%(
,"/(:">/("/8'*$)'%$"*(%"(<+(%/'*)1'/+*%('<">%U(W(A&'#+(K(XY"%(.$,,$&>#%Z([ C(X+/:(.$,,$&>#%ZD(=/+]>+*&:(<')+.("*()&'#+(1"$*%)(B0CD

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

European Communication Monitor 2019

European Communication Monitor 2019

Recommended

Recommended

More Related Content

What's hot

What's hot (15)

Similar to European Communication Monitor 2019

Similar to European Communication Monitor 2019 (20)

Recently uploaded

Recently uploaded (20)

European Communication Monitor 2019