The document contains a jumbled mix of symbols, characters, and phrases, indicating potential issues with encoding or formatting. There is no coherent text or meaningful content present that can be summarized in a conventional manner. Therefore, understanding its purpose or extracting information is currently impossible.

1. !"#$%&'()&'*+,,-./0'1+$'2,3"#+#4&'
5.,'!+#'1&,#+,3"#.'*./#0-'*"0"&)'
+#3'6.7#)!
!
"#$%&!
8#9",.#:&#0+%';:<+40'=&<.,0''
!*>'?@ABCDEFDC@GFC@EFGE@CFGE@C'
!
!"#$%"#&'()'*+,'(#-%./'+/'0-#'120)'+/'3#&.%,&456!
!+#'1&,#+,3"#.'*./#0-'H+)0&'I+#+$&:&#0!
"#$%&'%(!)*%!+,-.*&/!0.12%3!0,*.'%#*!
4#5,678&4%.9&,5:61874;'#2$%37<#-!!
=>?>@!ABCDBE?F!
!"#$%"#&'720-'0-#'%44240%,8#'+/6!
J!K!'8#9",.#:&#0+%'!0&7+,3)'L'M)).4"+0&)!
FG??!H&4%!"#5%#$!)-./!
+.65&$64/!")!
!
9#8#:(#"';<=>!

2. !"#$%&'()&'*+,,-./0'1+$'=&3/40".#'2,3"#+#4&'8;='
'
6+N%&'.5'*.#0&#0)'
'
HI.'2%,-.!J299&*3!!
!
F7?!K$%*#62'%,#$!
F7F!!L*#M.'%!N&'O<*#2$6!
F7G!!L2*1#4.!&$6!P.<&5!)2%Q#*,%3!!
F7A!!P.&6/!+.41#$4,;5./!&$6!R*24%..!)<.$',.4!!
F7S!!HK+!J'#1.!&$6!"#$%.$%!!
F7T!!H$-,*#$9.$%&5!+.-,.8!L*#'.44!!
!
G7?!L*#M.'%!0.4'*,1%,#$!
G7F!!L*#M.'%!J1#$4#*!!
G7G!!L*#M.'%!P#'&%,#$!!
G7A!!HI,4%,$<!N&<!U4.!"Q&*&'%.*,4%,'4!!
G7S!!L*#1#4.6!V*6,$&$'.!"Q&*&'%.*,4%,'4!!
G7T!!)$%,',1&%.6!"Q&$<.4!,$!N&<!U4.!&4!&!+.425%!#W!%Q.!L*#1#4.6!!
V*6,$&$'.!!
G7C!!L*#M.'%!V;M.'%,-.4!!
G7E!!+.X2,*.6!)11*#-&54!&$6!L.*9,%4!!
!
A7?!H$-,*#$9.$%&5!J.%%,$<!!
A7F!+.<,#$&5!J.%%,$<!!
A7G!"2925&%,-.!L*#M.'%4!J.%%,$<!!
!
S7?!H$-,*#$9.$%&5!K91&'%!)$&534,4!
S7F!!),*!Y2&5,%3!!
S7G!!N,#5#<,'&5!+.4#2*'.4!!
S7A!!Z*..$Q#24.!Z&4!H9,44,#$4!!
S7S!![36*#5#<3!&$6!&%.*!Y2&5,%3!!
!
T7?!V%Q.*!"HY)!0,4'244,#$4!
! ! T7F!!Z*#8%Q!K$62',$<!K91&'%4!!
T7G!!K**.-.*4,;5.!H$-,*#$9.$%&5!HWW.'%4!!
!
C7?!)5%.*$&%,-.4!!
C7F!)5%.*$&%,-.!F(!]#!L*#M.'%!)5%.*$&%,-.!!
C7G!)5%.*$&%,-.!G(!N&$!#$!J,$<5.!U4.!L5&4%,'!"&**3#2%!N&<4!&%!)55!+.%&,5!
H4%&;5,4Q9.$%4/!K$'526,$<!+.4%&2*&$%4!!
C7A!)5%.*$&%,-.!A(!^&$6&%#*3!"Q&*<.!#W!_?7F?!W#*!+.'3'5&;5.!L&1.*!"&**3#2%!!
N&<4!!
C7S!)5%.*$&%,-.!S(!N&$!#$!)55!J,$<5.!U4.!L5&4%,'!"&**3#2%!N&<4!&%!)55!+.%&,5.*4/!
^&$6&%#*3!"Q&*<.!#W!_?7GT!W#*!+.'3'5&;5.!L&1.*!"&**3#2%!N&<4`CDAB!!

3. C7T!!)5%.*$&%,-.4!"#$4,6.*.6!;2%!+.M.'%.6!!
C7C!!H$-,*#$9.$%&553!J21.*,#*!)5%.*$&%,-.!!
!
E7?!+.W.*.$'.4!&$6!+.1#*%!L*.1&*.*4!
E7F!!+.W.*.$'.4!!
E7G!!+.1#*%!L*.1&*.*4!!
!
P,4%!#W!a,<2*.4!&$6!R&;5.4!
!
R&;5.!HJDF!J299&*3!#W!J,<$,W,'&$%!H$-,*#$9.$%&5!K91&'%4/!^,%,<&%,#$!
^.&42*.4/!&$6!+.4,62&5!K91&'%4!
!
a,<2*.!GDF!+.<,#$&5!P#'&%,#$!^&1!&$6!^&1!#W!",%3!#W!+.65&$64!
R&;5.!GDF!!H4%,9&%.6!J,$<5.!U4.!L5&4%,'!"&**3#2%!N&<!U4.!,$!%Q.!J%263!)*.&!
R&;5.!GDG!!HI,4%,$<!&$6!L*#1#4.6!N&<!U4.!
!
R&;5.!S7FDF!"2**.$%!a.6.*&5!&$6!J%&%.!)9;,.$%!),*!Y2&5,%3!J%&$6&*64!
R&;5.!S7FDG!)9;,.$%!),*!Y2&5,%3!0&%&!
R&;5.!S7FDA!"2**.$%!H9,44,#$4!W*#9!Z*#2$6!P.-.5!Vb#$.!&$6!)%9#41Q.*,'!
)',6,W,'&%,#$!W*#9!J,$<5.!U4.!L5&4%,'!"&**3#2%!N&<4!,$!J%263!)*.&!
R&;5.!S7ADF!H4%,9&%.6!Z*..$Q#24.!Z&4!H9,44,#$4!W*#9!"&**3#2%!N&<4!,$!
J%263!)*.&!8,%Q!K915.9.$%&%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.!
'
R&;5.!CDF!H4%,9&%.6!"&**3#2%!N&<!U4.(!L*#1#4.6!V*6,$&$'.!-.*424!!
)5%.*$&%,-.!G!
R&;5.!CDG!H4%,9&%.6!"&**3#2%!N&<!U4.(!L*#1#4.6!V*6,$&$'.!-.*424!
)5%.*$&%,-.!A!
R&;5.!CDA!H4%,9&%.6!"&**3#2%!N&<!U4.(!L*#1#4.6!V*6,$&$'.!-.*424!
)5%.*$&%,-.!S!
R&;5.!CDS!!K91&'%!"#91&*,4#$4!#W!)5%.*$&%,-.4!8,%Q!%Q.!L*#1#4.6!V*6,$&$'.!
'
'
'
'
'
'
'
'

4. 8O8*(6;J8'!(IIM=P'
RQ,4!4.'%,#$!4299&*,b.4!%Q.!'Q&*&'%.*,4%,'4!#W!%Q.!1*#1#4.6!J,$<5.!U4.!"&**3#2%!N&<!
+.62'%,#$!V*6,$&$'.!=cL*#1#4.6!V*6,$&$'.d@!&$6!%Q.!4,<$,W,'&$%!.$-,*#$9.$%&5!
,91&'%4/!9,%,<&%,#$!9.&42*.4/!&$6!*.4,62&5!,91&'%4!&44#',&%.6!8,%Q!%Q.!L*#1#4.6!
V*6,$&$'.7!
Q=2R8*6'!PS2Q!;!'
L*#M.'%!J1#$4#*4!
J&$!N.*$&*6,$#!"#2$%3!&4%.!^&$&<.9.$%!!
4#5,678&4%.9&,5:61874;'#2$%37<#-!
=>?>@!ABCDBE?F!
"#$%&'%(!)*%!+,-.*&/!0.12%3!0,*.'%#*!
",%3!#W!+.65&$64D!Y2&5,%3!#W!P,W.!
AT!"&M#$!J%*..%/!J2,%.!GGG!!
+.65&$64/!")!>GAEA!!!!
=>?>@!E>BDECTT!
"#$%&'%(!a*.6!"&*6.$&4/!Y2&5,%3!#W!P,W.!0,*.'%#*!
!
L*#M.'%!"Q&*&'%.*,4%,'4!
RQ.!1*#1#4.6!J,$<5.!U4.!"&**3#2%!N&<!+.62'%,#$!V*6,$&$'.!=cL*#1#4.6!
V*6,$&$'.d@!8#256!*.<25&%.!%Q.!24.!#W!4,$<5.!24.!15&4%,'!&$6!*.'3'5&;5.!1&1.*!
'&**3#2%!;&<4!8,%Q,$!%Q.!M2*,46,'%,#$&5!5,9,%4!#W!&55!#*!4#9.!#W!%Q.!',%,.4!&$6!%#8$4!
5#'&%.6!,$!J&$!N.*$&*6,$#!"#2$%3!8,%Q,$!%Q.!J%263!)*.&!=4..!W255!5,4%!#W!1&*%,',1&%,$<!
',%,.4!&$6!%#8$4!,$!J.'%,#$!G7?/!L*#M.'%!0.4'*,1%,#$@7!a#*!%Q.!12*1#4.4!#W!%Q,4!HK+/!
%Q.!&*.&!8,%Q,$!%Q.!M2*,46,'%,#$&5!5,9,%4!#W!%Q.!1&*%,',1&%,$<!',%,.4!&$6!%#8$4!,$!J&$!
N.*$&*6,$#!"#2$%3/!&*.!*.W.**.6!%#!,$!%Q,4!6#'29.$%!&4!%Q.!cJ%263!)*.&7d!!
RQ.!L*#1#4.6!V*6,$&$'.!8#256!&1153!%#!%Q*..!'&%.<#*,.4!#W!*.%&,5!.4%&;5,4Q9.$%4!
%Q&%!&*.!5#'&%.6!8,%Q,$!#*!6#,$<!;24,$.44!8,%Q,$!%Q.!<.#<*&1Q,'!5,9,%4!#W!%Q.!J%263!
)*.&7!RQ.!#*6,$&$'.!8#256!=F@!1*#Q,;,%!%Q.!W*..!6,4%*,;2%,#$!#W!4,$<5.!24.!15&4%,'!&$6!
*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&$6!=G@!*.X2,*.!*.%&,5!.4%&;5,4Q9.$%4!%#!'Q&*<.!
'24%#9.*4!=&%!5.&4%!_?7?T@!W#*!*.'3'5.6!1&1.*!'&**3#2%!;&<4!&$6/!<.$.*&553/!*.24&;5.!
'&**3#2%!;&<4/!&%!%Q.!1#,$%!#W!4&5.7!RQ.!L*#1#4.6!V*6,$&$'.!8#256!$#%!&1153!%#!
*.4%&2*&$%4!&$6!#%Q.*!W##6!4.*-,'.!1*#-,6.*4/!&55#8,$<!%Q.9!%#!1*#-,6.!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!%#!'24%#9.*4!W#*!1*.1&*.6!%&O.D#2%!W##6!,$%.$6.6!W#*!
'#$4291%,#$!#WW!#W!%Q.!W##6!1*#-,6.*e4!1*.9,4.47!
RQ.!,$%.$%!#W!%Q.!#*6,$&$'.!,4!%#!*.62'.!%Q.!.$-,*#$9.$%&5!,91&'%4!*.5&%.6!%#!%Q.!
24.!#W!4,$<5.!24.!'&**3#2%!;&<4/!&$6!%#!1*#9#%.!&!4Q,W%!%#8&*6!%Q.!24.!#W!*.24&;5.!

5. '&**3#2%!;&<47!K%!,4!&$%,',1&%.6!%Q&%!;3!1*#Q,;,%,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!
&$6!*.X2,*,$<!&!9&$6&%#*3!'Q&*<.!W#*!.&'Q!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!
6,4%*,;2%.6!;3!*.%&,5.*4/!%Q.!L*#1#4.6!V*6,$&$'.!8#256!1*#-,6.!&!6,4,$'.$%,-.!%#!
'24%#9.*4!%#!*.X2.4%!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!8Q.$!4Q#11,$<!&%!*.<25&%.6!
4%#*.4!&$6!1*#9#%.!&!4Q,W%!%#!%Q.!24.!#W!*.24&;5.!'&**3#2%!;&<4!;3!*.%&,5!'24%#9.*4/!
8Q,5.!*.62',$<!%Q.!$29;.*!#W!4,$<5.!24.!15&4%,'!&$6!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!
8,%Q,$!%Q.!%.$!1&*%,',1&%,$<!',%,.4!&$6!%#8$47!
J,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&*.!6.W,$.6!,$!%Q.!L*#1#4.6!V*6,$&$'.!&4!&$3!;&<!
9&6.!1*.6#9,$&%.53!#W!15&4%,'!6.*,-.6!W*#9!.,%Q.*!1.%*#5.29!#*!;,#5#<,'&553D;&4.6!
4#2*'.4/!42'Q!&4!'#*$!#*!#%Q.*!15&$%!4#2*'.4/!8Q,'Q!,4!1*#-,6.6!%#!&!'24%#9.*!&%!%Q.!
1#,$%!#W!4&5.7!+.<25&%.6!;&<4!8#256!$#%!,$'526.!&!1*#62'%!;&<!=6.W,$.6!&4!&$3!;&<!
8,%Q#2%!Q&$65.4!24.6!.I'524,-.53!%#!'&**3!1*#62'./!9.&%4/!#*!#%Q.*!W##6!,%.94!42'Q!
&4!;25O!W##64!%#!%Q.!1#,$%!#W!4&5.!,$4,6.!&!4%#*.!#*!%#!1*.-.$%!42'Q!W##6!,%.94!W*#9!
'#9,$<!,$%#!6,*.'%!'#$%&'%!8,%Q!#%Q.*!12*'Q&4.6!,%.94@7!)!*.'3'5&;5.!1&1.*!'&**3#2%!
;&<!,4!6.W,$.6!,$!%Q.!L*#1#4.6!V*6,$&$'.!&4!&!;&<!%Q&%!=F@!'#$%&,$4!$#!#56!<*#8%Q!
W,;.*/!=G@!,4F??f!*.'3'5&;5.!#-.*&55!&$6!'#$%&,$4!&!9,$,929!#W!S?f!1#4%D'#$429.*!
*.'3'5.6!9&%.*,&5/!=A@!,4!'&1&;5.!#W!'#91#4%,$</!=S@!,4!&''.1%.6!W#*!*.'3'5,$<!,$!
'2*;4,6.!1*#<*&94/!=T@!Q&4!1*,$%.6!#$!%Q.!;&<!%Q.!$&9.!#W!%Q.!9&$2W&'%2*.*/!%Q.!
5#'&%,#$!='#2$%*3@!8Q.*.!%Q.!;&<!8&4!9&$2W&'%2*.6/!&$6!%Q.!1.*'.$%&<.!#W!
1#4%'#$429.*!*.'3'5.6!9&%.*,&5!24.6/!&$6!=C@!6,415&34!%Q.!8#*6!c*.'3'5&;5.d!,$!&!
Q,<Q53!-,4,;5.!9&$$.*!#$!%Q.!#2%4,6.!#W!%Q.!;&<7!
Q=2R8*6'21R8*6;J8!'
J&$!N.*$&*6,$#!"#2$%3e4!#;M.'%,-.4!W#*!%Q.!L*#1#4.6!V*6,$&$'.!,$'526.(!
g!!+.62',$<!%Q.!.$-,*#$9.$%&5!,91&'%4!*.5&%.6!%#!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!
42'Q!&4!,91&'%4!%#!;,#5#<,'&5!*.4#2*'.4!=,$'526,$<!9&*,$.!.$-,*#$9.$%4@/!8&%.*!
X2&5,%3!&$6!2%,5,%,.4!=4#5,6!8&4%.!.X2,19.$%!&$6!W&',5,%,.4@!!
g!!0.%.**,$<!%Q.!24.!#W!1&1.*!'&**3#2%!;&<4!;3!*.%&,5!'24%#9.*4!!
g!!L*#9#%,$<!&!4Q,W%!%#8&*6!%Q.!24.!#W!*.24&;5.!'&**3#2%!;&<4!;3!*.%&,5!'24%#9.*4!!
g!!+.62',$<!%Q.!&9#2$%!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!,$!5&$6W,55!-#529.4!!
g!!+.62',$<!5,%%.*!&$6!%Q.!&44#',&%.6!&6-.*4.!,91&'%4!%#!4%#*98&%.*!434%.94/!
&.4%Q.%,'4!!&$6!9&*,$.!&$6!%.**.4%*,&5!.$-,*#$9.$%4!!)PRH+])RKhHJ!!)4!*.X2,*.6!
;3!"HY)/!%Q.!HK+!.I&9,$.4!&!*&$<.!#W!&5%.*$&%,-.4!%#!%Q.!1*#1#4.6!1*#M.'%!%Q&%!
W.&4,;53!&%%&,$!9#4%!#W!%Q.!;&4,'!1*#M.'%!#;M.'%,-.47!RQ.4.!&5%.*$&%,-.4!&*.!6.4'*,;.6!
&$6!.-&52&%.6!,$!J.'%,#$!C7?/!)5%.*$&%,-.47!J%26,.6!&5%.*$&%,-.4!,$'526.(!!
g!!?.0#",%02@#'=6'A+'!"+B#80!D!RQ.!$#!1*#M.'%!&5%.*$&%,-.!&4429.4!%Q&%!%Q.!J,$<5.!U4.!
"&**3#2%!N&<!+.62'%,#$!V*6,$&$'.!8#256!$#%!#''2*7!RQ.!.I,4%,$<!*.%&,5!
.4%&;5,4Q9.$%4!8#256!'#$%,$2.!%#!1*#-,6.!4,$<5.!24.!15&4%,'!&$6!*.'3'5&;5.!1&1.*!
;&<4!W*..!#W!'Q&*<.!%#!%Q.!'24%#9.*47!!

6. g!!?.0#",%02@#';6'C%,'+,'D2,E.#'F4#'!.%4028'1%"")+G0'C%E4'%0'%..'3#0%2.'H40%(.24-:#,04I'
J,8.G&2,E'3#40%G"%,04!D!RQ,4!&5%.*$&%,-.!8#256!1*#Q,;,%!&55!*.%&,5!.4%&;5,4Q9.$%4!,$!
%Q.!J%263!)*.&!W*#9!1*#-,6,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%#!'24%#9.*4!&%!%Q.!
1#,$%!#W!4&5./!,$'526,$<!*.4%&2*&$%4!&$6!#%Q.*!W##6!.4%&;5,4Q9.$%47!!!
g!!?.0#",%02@#'>6'K%,&%0+")'1-%"E#'+/'L<M=<'/+"'3#8)8.%(.#'!%$#"'1%"")+G0'C%E4!D!RQ,4!
&5%.*$&%,-.!8#256!'#$%,$2.!%#!1*#Q,;,%!*.%&,5!.4%&;5,4Q9.$%4!=.I'.1%!*.4%&2*&$%4@!,$!
%Q.!J%263!)*.&!W*#9!1*#-,6,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%#!'24%#9.*4!&%!%Q.!
1#,$%!#W!4&5./!;2%!8#256!,$'*.&4.!%Q.!9&$6&%#*3!'Q&*<.!W#*!*.'3'5&;5.!1&1.*!
'&**3#2%!;&<4!W*#9!_?7?T!%#!_?7F?7!!
!
g!!?.0#",%02@#'N6'K%,&%0+")'1-%"E#'+/'L<M;O'/+"'3#8)8.%(.#'!%$#"'1%"")+G0'C%E4'P'Q-24'
%.0#",%02@#'7+G.&'8+,02,G#'0+'$"+-2(20'"#0%2.'#40%(.24-:#,04'*#R8#$0'"#40%G"%,045'2,'
0-#'D0G&)'?"#%'/"+:'$"+@2&2,E'42,E.#'G4#'$.%4028'8%"")+G0'(%E4'0+'8G40+:#"4'%0'0-#'
$+2,0'+/'4%.#I'(G0'7+G.&'2,8"#%4#'0-#':%,&%0+")'8-%"E#'/+"'"#8)8.%(.#'$%$#"'8%"")+G0'
(%E4'/"+:'L<M<O'0+'L<M;OM!
'
!(IIM=P'2T'!;KS;T;*MS6';IQM*6!'MSU'I;6;KM6;2S'I8M!(=8!'''
R&;5.!HJDF!,$'526.4!&!;*,.W!6.4'*,1%,#$!#W!%Q.!.$-,*#$9.$%&5!,442.4!*.5&%,-.!%#!%Q.!
L*#1#4.6!V*6,$&$'./!%Q.!,6.$%,W,.6!4,<$,W,'&$%!.$-,*#$9.$%&5!,91&'%4/!1*#1#4.6!
9,%,<&%,#$!9.&42*.4/!&$6!*.4,62&5!,91&'%47!J,<$,W,'&$%!&$6!U$&-#,6&;5.!,91&'%4!&*.!
6.W,$.6!&4!4,<$,W,'&$%/!2$&-#,6&;5.!&6-.*4.!,91&'%4!8Q,'Q!*.X2,*.!&!4%&%.9.$%!#W!
#-.**,6,$<!'#$4,6.*&%,#$4!%#!;.!,442.6!12*42&$%!%#!%Q.!"HY)!Z2,6.5,$.4!iFT?>A!,W!
%Q.!1*#M.'%!,4!&11*#-.67!J,<$,W,'&$%!;2%!^,%,<&%.6!,91&'%4!&*.!4,<$,W,'&$%!&6-.*4.!
,91&'%4!%Q&%!'&$!;.!W.&4,;53!9,%,<&%.6!%#!5.44!%Q&$!4,<$,W,'&$%!5.-.54!&$6!8Q,'Q!
*.X2,*.!W,$6,$<4!%#!;.!9&6.!2$6.*!J.'%,#$!FT?>F!#W!%Q.!"HY)!Z2,6.5,$.47!P.44!%Q&$!
J,<$,W,'&$%!,91&'%4!&*.!'#$4,6.*.6!$#%!4,<$,W,'&$%!&$6!;.$.W,',&5!.WW.'%4!&*.!&!
*.62'%,#$!,$!.I,4%,$<!.$-,*#$9.$%&5!1*#;5.94!#*!Q&b&*647!!
'
'
'
'
'
'
'
'
'
'
'
'
'

7. 6+N%&'8!VB''
!/::+,-'.5'!"$#"5"4+#0'8#9",.#:&#0+%';:<+40)W'I"0"$+0".#'
I&+)/,&)W'+#3'=&)"3/+%';:<+40)'
;:<+40' I"0"$+0".#'
I&+)/,&)'
!"$#"5"4+#4&'M50&,'I"0"$+0".#'
M",'X/+%"0-' ' '
K91&'%!)YDF!,%Q!&!4Q,W%!%#8&*6!*.'3'5&;5.!1&1.*!&$6!
*.24&;5.!'&**3#2%!;&<4/!%Q.!L*#1#4.6!V*6,$&$'.!,4!
.I1.'%.6!%#!42;4%&$%,&553!*.62'.!%Q.!$29;.*!#W!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!24.6!8,%Q,$!%Q.!J%263!)*.&/!%Q.*.;3!
*.62',$<!%Q.!%#%&5!$29;.*!#W!;&<4!9&$2W&'%2*.67!RQ.!
#b#$.!.9,44,#$4!&44#',&%.6!8,%Q!&55!%31.4!#W!'&**3#2%!;&<!
9&$2W&'%2*./!%*&$41#*%/!&$6!24.!8#256!6.'*.&4.!
'#91&*.6!%#!.I,4%,$<!'#$6,%,#$47!)5%Q#2<Q!&%9#41Q.*,'!
&',6,W,'&%,#$!.9,44,#$4!&44#',&%.6!'&**3#2%!;&<!
9&$2W&'%2*./!%*&$41#*%/!&$6!24.!8#256!,$'*.&4./!'&**3#2%!
;&<!9&$2W&'%2*.*4!8#256!;.!*.X2,*.6!%#!'#9153!8,%Q!
.I,4%,$<!&,*!X2&5,%3!*.<25&%,#$47!K$!&66,%,#$/!$#!'&**3#2%!
;&<!9&$2W&'%2*.*4!&*.!8,%Q,$!%Q.!5#'&5!&,*!;&4,$7!
RQ.*.W#*./!&,*!X2&5,%3!,91&'%4!*.5&%.6!%#!&5%.*&%,#$!#W!
1*#'.44,$<!&'%,-,%,.4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%7!
^,%,<&%,#$!,4!
$#%!
*.X2,*.67!
'
K91&'%4!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%!8,%Q#2%!9,%,<&%,#$7!
'
K91&'%!)YDG!,%Q!&$!.I1.'%.6!,$'*.&4.!,$!%Q.!24.!#W!
*.'3'5&;5.!1&1.*!&$6!*.24&;5.!'&**3#2%!;&<4/!%Q.!
L*#1#4.6!V*6,$&$'.!8#256!<.$.*&%.!&,*!1#552%&$%!
.9,44,#$4!&44#',&%.6!8,%Q!&$!,$'*.9.$%&5!,$'*.&4.!,$!
%*2'O!%*,14!%#!6.5,-.*!*.'3'5&;5.!1&1.*!&$6!*.24&;5.!
'&**3#2%!;&<4!%#!5#'&5!*.%&,5.*47![#8.-.*/!.9,44,#$4!8#256!
$#%!.I'..6!J")Y^0!#1.*&%,#$&5!4,<$,W,'&$'.!%Q*.4Q#5647!
RQ.*.W#*./!#1.*&%,#$&5!&,*!X2&5,%3!,91&'%4!8#256!;.!5.44!
%Q&$!4,<$,W,'&$%7!
^,%,<&%,#$!,4!
$#%!
*.X2,*.67!
'
K91&'%4!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%!8,%Q#2%!9,%,<&%,#$7!
'
1".%.$"4+%'=&)./,4&)! ! !
K91&'%!NKVDF!RQ.!L*#1#4.6!V*6,$&$'.!8#256!
,$'*.9.$%&553!,$'*.&4.!%Q.!$29;.*!#W!*.'3'5.6!1&1.*!&$6!
*.24&;5.!'&**3#2%!;&<4!8,%Q,$!%Q.!J%263!)*.&7![#8.-.*/!
%Q.!*.62'%,#$!,$!%Q.!&9#2$%!#W!4,$<5.!24.!15&4%,'!'&**3#2%!
;&<4!8#256!;.!.I1.'%.6!%#!*.62'.!%Q.!#-.*&55!&9#2$%!#W!
5,%%.*!.$%.*,$<!%Q.!'*..O4!&$6!'#&4%&5!Q&;,%&%/!%Q24!
*.62',$<!5,%%.*D*.5&%.6!,91&'%4!%#!4.$4,%,-.!8,565,W.!
41.',.4!&$6!4.$4,%,-.!Q&;,%&%47!RQ.*.W#*./!%Q.*.!8#256!;.!
$#!4,<$,W,'&$%!&6-.*4.!,91&'%!%#!;,#5#<,'&5!*.4#2*'.4!&4!&!
*.425%!#W!%Q.!L*#1#4.6!V*6,$&$'.7!
^,%,<&%,#$!,4!
$#%!
*.X2,*.67!
'
K91&'%4!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%!8,%Q#2%!9,%,<&%,#$7!
'
K,&&#Y./)&'K+)'8:"))".#)' ' '
K91&'%!Z[ZDF!RQ.!L*#1#4.6!V*6,$&$'.!8#256!,$'*.&4.!
%Q.!$29;.*!#W!*.'3'5&;5.!1&1.*!&$6!*.24&;5.!'&**3#2%!
;&<4!24.6!,$!%Q.!J%263!)*.&!&$6!8#256!%Q.*.W#*.!
,$'*.9.$%&553!,$'*.&4.!Z[Z!.9,44,#$4!'#91&*.6!%#!
.I,4%,$<!'#$6,%,#$47![#8.-.*/!.9,44,#$4!8#256!$#%!.I'..6!
%Q*.4Q#564!#W!4,<$,W,'&$'.7!K91&'%4!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%7!
^,%,<&%,#$!,4!
$#%!
*.X2,*.67!
'
K91&'%4!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%!8,%Q#2%!9,%,<&%,#$7!
'

8. >-3,.%.$-Z'H+0&,'X/+%"0-' ' '
K91&'%![YDF!RQ.!L*#1#4.6!V*6,$&$'.!8#256!
,$'*.9.$%&553!,$'*.&4.!%Q.!$29;.*!#W!*.'3'5&;5.!1&1.*!
&$6!*.24&;5.!'&**3#2%!;&<4!24.6!,$!%Q.!J%263!)*.&/!;2%!%Q.!
*.62'%,#$!,$!%Q.!#-.*&55!$29;.*!#W!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!24.6!,$!%Q.!J%263!)*.&!8#256!*.62'.!%Q.!
&9#2$%!#W!5,%%.*!&$6!8&4%.!.$%.*,$<!4%#*9!6*&,$47!RQ,4!
8#256!,91*#-.!5#'&5!42*W&'.!8&%.*!X2&5,%3/!&!;.$.W,',&5!
.WW.'%7!
^,%,<&%,#$!,4!
$#%!
*.X2,*.67!
'
K91&'%4!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%!8,%Q#2%!9,%,<&%,#$7!
'
K91&'%![YDG!)!4Q,W%!%#8&*6!*.24&;5.!'&**3#2%!;&<4!&$6!
1#%.$%,&5!,$'*.&4.!,$!%Q.!24.!#W!*.'3'5&;5.!1&1.*!'&**3#2%!
;&<4!'#256!,$'*.&4.!%Q.!24.!#W!'Q.9,'&54!&44#',&%.6!8,%Q!
%Q.,*!1*#62'%,#$/!8Q,'Q!'#256!6.<*&6.!8&%.*!X2&5,%3!,$!
4#9.!,$4%&$'.4!&$6!5#'&%,#$47![#8.-.*/!;&<!
9&$2W&'%2*.*4!8#256!;.!*.X2,*.6!%#!&6Q.*.!%#!.I,4%,$<!
*.<25&%,#$4/!,$'526,$<!]L0HJ!L.*9,%!*.X2,*.9.$%4!&$6!
%Q.!"&5,W#*$,&![.&5%Q!&$6!J&W.%3!"#6.7!RQ.*.W#*./!,91&'%4!
%#!8&%.*!X2&5,%3!W*#9!,$'*.&4,$<!*.'3'5&;5.!1&1.*!&$6!
*.24&;5.!'&**3#2%!;&<!1*#'.44,$<!&'%,-,%,.4!8#256!;.!5.44!
%Q&$!4,<$,W,'&$%7!
^,%,<&%,#$!,4!
$#%!
*.X2,*.67!
'
K91&'%4!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%!8,%Q#2%!9,%,<&%,#$7!
'
(0"%"0"&)'+#3'!&,9"4&'!-)0&:)' ' '
K91&'%!UDF!RQ.!,$'*.&4.6!24.!#W!*.24&;5.!'&**3#2%!;&<4!
8,%Q,$!%Q.!J%263!)*.&!&4!&!*.425%!#W!%Q.!L*#1#4.6!
V*6,$&$'.!8#256!,$'*.9.$%&553!,$'*.&4.!8&%.*!6.9&$6!
62.!%#!8&4Q,$<!#W!*.24&;5.!'&**3#2%!;&<47![#8.-.*/!
42WW,',.$%!8&%.*!42115,.4!&*.!&-&,5&;5.!%#!9..%!%Q.!
1*#M.'%.6!,$'*.&4.!,$!6.9&$67!RQ.*.W#*./!8&%.*!421153!
,91&'%4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%7!
^,%,<&%,#$!,4!
$#%!
*.X2,*.67!
'
K91&'%4!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%!8,%Q#2%!9,%,<&%,#$7!
'
K91&'%!UDG!&%.*!24.!&44#',&%.6!8,%Q!8&4Q,$<!*.24&;5.!
'&**3#2%!;&<4!8,%Q,$!%Q.!J%263!)*.&!8#256!,$'*.9.$%&553!
,$'*.&4.!8&4%.8&%.*!<.$.*&%,#$7![#8.-.*/!1*#M.'%.6!
8&4%.8&%.*!W5#84!8#256!*.9&,$!8,%Q,$!%Q.!'&1&',%3!#W!
J%263!)*.&!8&4%.8&%.*!'#55.'%,#$!&$6!%*.&%9.$%!434%.94!
&$6!8#256!$#%!.I'..6!&115,'&;5.!8&4%.8&%.*!%*.&%9.$%!
*.X2,*.9.$%47!K91&'%4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%7!
^,%,<&%,#$!,4!
$#%!
*.X2,*.67!
'
K91&'%4!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%!8,%Q#2%!9,%,<&%,#$7!
'
K91&'%!UDA!RQ.!L*#1#4.6!V*6,$&$'.!8#256!&5%.*!%Q.!4#5,6!
8&4%.!<.$.*&%,#$!*&%.4!,$!%Q.!J%263!)*.&!62.!%#!&$!
,$'*.&4.!,$!*.'3'5&;5.!1&1.*!&$6!*.24&;5.!'&**3#2%!;&<!
24.!&$6!&!*.62'%,#$!,$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!24.7!
[#8.-.*/!1*#M.'%.6!W2%2*.!4#5,6!8&4%.!<.$.*&%,#$!8#256!
*.9&,$!8,%Q,$!%Q.!'&1&',%3!#W!*.<,#$&5!5&$6W,5547!K91&'%4!
8#256!%Q.*.W#*.!;.!5.44!%Q&$!4,<$,W,'&$%7!
^,%,<&%,#$!,4!
$#%!
*.X2,*.67!
'
K91&'%4!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%!8,%Q#2%!9,%,<&%,#$7!
'
'
'
'
'

9. B[A';S6=2U(*6;2S'
RQ,4!6#'29.$%!,4!&$!H$-,*#$9.$%&5!K91&'%!+.1#*%!=HK+@!W#*!%Q.!1*#1#4.6!J,$<5.!U4.!
"&**3#2%!N&<!+.62'%,#$!V*6,$&$'.!=%Q.!L*#1#4.6!V*6,$&$'.@7!RQ.!L*#1#4.6!
V*6,$&$'.!8#256!1*#Q,;,%!'.*%&,$!*.%&,5!.4%&;5,4Q9.$%4!.$<&<.6!,$!%Q.!4&5.!#W!
<*#'.*,.4!=.I'526,$<!*.4%&2*&$%4@!,$!1&*%,',1&%,$<!92$,',1&5,%,.4!W*#9!6,4%*,;2%,$<!
4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!K%!8#256!&54#!'*.&%.!&!9&$6&%#*3!9,$,929!'Q&*<.!
#W!W,-.!'.$%4!=_?7?T@!W#*!.&'Q!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!1*#-,6.6!%#!&!'24%#9.*7!
RQ.!L*#1#4.6!V*6,$&$'.!8#256!&1153!%#!*.%&,5!.4%&;5,4Q9.$%4/!,$'526,$</!;2%!$#%!
5,9,%.6!%#/!6*2<!4%#*.4/!1Q&*9&',.4/!421.*9&*O.%4/!<*#'.*3!4%#*.4/!'#$-.$,.$'.!W##6!
4%#*.4/!W##6!9&*%4/!#*!#%Q.*!4,9,5&*!*.%&,5!4%#*.4!#*!.$%,%,.4!.$<&<.6!,$!%Q.!*.%&,5!4&5.!
#W!<*#'.*3!,%.94j!&$6!,4!5#'&%.6!8,%Q,$!%Q.!M2*,46,'%,#$&5!5,9,%4!#W!&$3!#W!%Q.!
W#55#8,$<!1&*%,',1&%,$<!92$,',1&5,%,.4(!
g!+.65&$64!
",%3!#W!+.65&$64D!Y2&5,%3!#W!P,W.!
AT!"&M#$!J%*..%/!J2,%.!GGG!!
+.65&$64/!")!>GAEA!!!!
=>?>@!E>BDECTT!
!
"#$%&'%(!a*.6!"&*6.$&4/!Y2&5,%3!#W!P,W.!0,*.'%#*!
RQ.!",%3!#W!+.65&$64!,4!*.W.**.6!%#!,$!%Q,4!6#'29.$%!&4!%Q.!cJ%263!)*.&7d!RQ.!
L*#1#4.6!V*6,$&$'.!,4!6.4'*,;.6!,$!<*.&%.*!6.%&,5!,$!J.'%,#$!G7?/!L*#M.'%!0.4'*,1%,#$7!
RQ,4!4.'%,#$!6,4'244.4(!
g!RQ.!1*#M.'%!;&'O<*#2$6!!
g!RQ.!5.<&5!;&4,4!W#*!1*.1&*,$<!&$!HK+!!
g!P.&6/!*.41#$4,;5./!&$6!%*24%..!&<.$',.4!!
g!RQ.!4'#1.!&$6!'#$%.$%!#W!%Q.!HK+!!
g!RQ.!.$-,*#$9.$%&5!*.-,.8!1*#'.44!*.X2,*.6!2$6.*!%Q.!"&5,W#*$,&!
H$-,*#$9.$%&5!!Y2&5,%3!)'%!="HY)@!!
B[B'Q=2R8*6'1M*K=2(SU'
K$!*.41#$4.!%#!'#$'.*$4!*.<&*6,$<!%Q.!.$-,*#$9.$%&5!,91&'%4!#W!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4/!%Q.!J&$!N.*$&*6,$#!"#2$%3!&4%.!^&$&<.9.$%!Q&4!1*.1&*.6!&!0*&W%/!
^#6.5!J,$<5.!U4.!"&**3#2%!N&<!+.62'%,#$!V*6,$&$'.!%Q&%!1&*%,',1&%,$<!&<.$',.4!
8,%Q,$!J&$!N.*$&*6,$#!"#2$%3!9&3!'#$4,6.*!W#*!&6#1%,#$!=4..!0*&W%!V*6,$&$'.!,$!
)11.$6,I!N@7!)6#1%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.!8#256!;.!&!6,4'*.%,#$&*3!&'%,#$!
42;M.'%!%#!%Q.!.$-,*#$9.$%&5!*.-,.8!*.X2,*.9.$%4!#W!%Q.!"&5,W#*$,&!H$-,*#$9.$%&5!

10. Y2&5,%3!)'%!="HY)@7!
RQ.*.W#*./!J&$!N.*$&*6,$#!"#2$%3!&4%.!^&$&<.9.$%!6.%.*9,$.6!%Q&%!&$!HK+!
4Q#256!;.!1*.1&*.6!.I&9,$,$<!%Q.!V*6,$&$'.e4!1#%.$%,&5!.$-,*#$9.$%&5!,91&'%47!
RQ.!&$&534,4!#W!%Q.!L*#1#4.6!V*6,$&$'.!,$!%Q,4!HK+!'#$4,6.*4!&!;&<!#*6,$&$'.!%Q&%!
8#256!;.!&6#1%.6!8,%Q,$!%Q.!",%3!#W!+.65&$647!!
J.-.*&5!',%,.4!&$6!'#2$%,.4!,$!"&5,W#*$,&!Q&-.!1*.-,#2453!'#$4,6.*.6!#*!1&44.6!
4,9,5&*!#*6,$&$'.4!8,%Q,$!%Q.,*!*.41.'%,-.!M2*,46,'%,#$47!RQ.4.!,$'526./!;2%!&*.!$#%!
5,9,%.6!%#(!%Q.!",%3!#W!J&$!a*&$',4'#/!%Q.!",%3!#W!J.&%%5./!%Q.!"#2$%3!#W!P#4!)$<.5.4/!
%Q.!",%3!#W!N.*O.5.3/!%Q.!",%3!#W!J&$!k#4./!%Q.!",%3!#W!^&$Q&%%&$!N.&'Q/!%Q.!",%3!#W!
L&5#!)5%#/!^&*,$!"#2$%3/!%Q.!",%3!#W!^&5,;2/!%Q.!",%3!#W!J&$%&!^#$,'&/!J&$!^&%.#!
"#2$%3/!%Q.!",%3!#W!J2$$3-&5./!)5&9.6&!"#2$%3/!%Q.!",%3!#W!"&5&;&4&4/!%Q.!R#8$!#W!
a&,*W&I/!%Q.!",%3!#W![2$%,$<%#$!N.&'Q/!%Q.!",%3!#W!0&$&!L#,$%/!%Q.!",%3!#W!P&<2$&!
N.&'Q/!&$6!%Q.!",%3!#W!P#$<!N.&'Q7!
B[@'Q(=Q2!8'MSU']8KM]'M(6>2=;6P'
RQ.!1*#1#4.6!J,$<5.!U4.!"&**3#2%!N&<!+.62'%,#$!V*6,$&$'.!*.X2,*.4!%Q.!
6,4'*.%,#$&*3!&11*#-&5!#W!%Q.!",%3!#W!+.65&$647!RQ.*.W#*./!,%!,4!42;M.'%!%#!%Q.!
*.X2,*.9.$%4!#W!"HY)7!K$!&''#*6&$'.!8,%Q!J.'%,#$!FTFGF!#W!%Q.!"HY)!Z2,6.5,$.4/!
%Q.!12*1#4.!#W!%Q,4!HK+!,4!%#!4.*-.!&4!&$!,$W#*9&%,#$&5!6#'29.$%!%Q&%!8,55!,$W#*9!
12;5,'!&<.$'3!6.',4,#$D9&O.*4!&$6!%Q.!12;5,'!#W!%Q.!4,<$,W,'&$%!.$-,*#$9.$%&5!
.WW.'%4!#W!&!1*#M.'%/!,6.$%,W3!1#44,;5.!8&34!%#!9,$,9,b.!%Q.!4,<$,W,'&$%!.WW.'%4/!&$6!
6.4'*,;.!*.&4#$&;5.!&5%.*$&%,-.4!%#!%Q.!1*#M.'%7!
a#*!.&'Q!#W!%Q.!1&*%,',1&%,$<!92$,',1&5,%,.4D!%Q.!",%3!#W!+.65&$64D!J.'%,#$!G7C!,$!
J.'%,#$!G7?/!L*#M.'%!0.4'*,1%,#$/!1*#-,6.4!&!6.%&,5.6!6.4'*,1%,#$!#W!&11*#-&54!%Q&%!
9&3!;.!$.'.44&*3!W#*!%Q.!L*#1#4.6!V*6,$&$'.7!
B[C']8MUW'=8!Q2S!;1]8W'MSU'6=(!688'MK8S*;8!'
RQ.!"HY)!Z2,6.5,$.4!6.W,$.!5.&6/!*.41#$4,;5.!&$6!%*24%..!&<.$',.47!K$!&''#*6&$'.!
8,%Q!%Q.!"HY)!Z2,6.5,$.4!=J.'%,#$!FT?TF=6@@/!8Q.$!%8#!#*!9#*.!12;5,'!&<.$',.4!
Q&-.!&!42;4%&$%,&5!'5&,9!%#!;.!%Q.!P.&6!)<.$'3/!%Q.!12;5,'!&<.$',.4!9&3!;3!
&<*..9.$%!6.4,<$&%.!&$!&<.$'3!&4!%Q.!P.&6!)<.$'37!)$!&<*..9.$%!9&3!&54#!1*#-,6.!
W#*!'##1.*&%,-.!.WW#*%4!;3!%8#!#*!9#*.!&<.$',.4!;3!'#$%*&'%/!M#,$%!.I.*',4.!#W!
1#8.*4/!#*!4,9,5&*!6.-,'.47!a#*!%Q.!12*1#4.4!#W!%Q,4!HK+/!%Q.!J&$!N.*$&*6,$#!"#2$%3!
&4%.!^&$&<.9.$%!,4!&'%,$<!&4!&!c"#DP.&6!)<.$'3d!8,%Q!%Q.!#%Q.*!1&*%,',1&%,$<!
92$,',1&5,%3D!%Q.!",%3!#W!+.65&$647!!
)!*.41#$4,;5.!&<.$'3!*.W.*4!%#!&!12;5,'!&<.$'3!#%Q.*!%Q&$!%Q.!5.&6!&<.$'3!%Q&%!Q&4!
6,4'*.%,#$&*3!&11*#-&5!#-.*!&!1*#M.'%/!&$6!&!%*24%..!&<.$'3!*.W.*4!%#!&!4%&%.!&<.$'3!
Q&-,$<!M2*,46,'%,#$!;3!5&8!#-.*!$&%2*&5!*.4#2*'.4!&WW.'%.6!;3!&!1*#M.'%7!)4!%Q.!
1&*%,',1&%,$<!92$,',1&5,%3/!%Q.!",%3!#W!+.65&$64/!8#256!;.!&'%,$<!&4!%Q.!5.&6!&<.$'3!
W#*!%Q.!'.*%,W,'&%,#$!#W!%Q.!a,$&5!HK+!&$6!&11*#-&5!#W!%Q.!1*#M.'%/!%Q.*.!&*.!$#!

11. *.41#$4,;5.!&<.$',.4!W#*!%Q.!L*#1#4.6!V*6,$&$'.7!RQ.*.!&*.!&54#!$#!%*24%..!&<.$',.4!
W#*!%Q.!L*#1#4.6!V*6,$&$'.7!
B[F'8;='!*2Q8'MSU'*2S68S6'
RQ,4!HK+!&66*.44.4!%Q.!1#%.$%,&553!4,<$,W,'&$%!.WW.'%4!%Q&%!%Q.!",%3!#W!+.65&$64!
6.%.*9,$.6!'#256!*.425%!W*#9!&6#1%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.7!RQ.!,442.4!
&66*.44.6!,$!%Q,4!HK+!,$'526.(!
g!),*!Y2&5,%3!!
g!N,#5#<,'&5!+.4#2*'.4!!
g!Z*..$Q#24.!Z&4!H9,44,#$4!!
g![36*#5#<3l&%.*!Y2&5,%3!!
RQ.!HK+!*.W.*.$'.4!1.*%,$.$%!1#5,',.4!&$6!<2,6.5,$.4!#W!J&$!N.*$&*6,$#!"#2$%3!&$6!
%Q.!",%3!#W!+.65&$64/!'.*%,W,.6!HK+4!&$6!#%Q.*!&6#1%.6!"HY)!6#'29.$%4/!&$6!
;&'O<*#2$6!6#'29.$%4!1*.1&*.6!;3!%Q.!J&$!N.*$&*6,$#!"#2$%3!&4%.!^&$&<.9.$%!
,$!1*.1&*,$<!%Q.!L*#1#4.6!V*6,$&$'.7!)!W255!*.W.*.$'.!5,4%!,4!'#$%&,$.6!,$!J.'%,#$!E7?/!
+.W.*.$'.4!&$6!+.1#*%!L*.1&*.*47!!!
!RQ.!&5%.*$&%,-.4!4.'%,#$!#W!%Q.!HK+!=J.'%,#$!C7?@!8&4!1*.1&*.6!,$!&''#*6&$'.!8,%Q!
J.'%,#$!FTFGC7C!#W!%Q.!"HY)!Z2,6.5,$.47!RQ.!&5%.*$&%,-.4!6,4'244,#$!.-&52&%.4!%Q.!
"HY)D*.X2,*.6!c$#!1*#M.'%d!&5%.*$&%,-.!&$6!4,I!&5%.*$&%,-.!4'.$&*,#4!W#*!%Q.!
L*#1#4.6!V*6,$&$'.7!K%!&54#!,6.$%,W,.4!%Q.!.$-,*#$9.$%&553!421.*,#*!&5%.*$&%,-.!
&9#$<!%Q.!&5%.*$&%,-.4!&44.44.67!
RQ.!5.-.5!#W!6.%&,5!'#$%&,$.6!%Q*#2<Q#2%!%Q,4!HK+!,4!'#$4,4%.$%!8,%Q!%Q.!*.X2,*.9.$%4!
#W!"HY)!&$6!&115,'&;5.!'#2*%!6.',4,#$47!RQ.!"HY)!Z2,6.5,$.4!1*#-,6.!%Q.!4%&$6&*6!
#W!&6.X2&'3!#$!8Q,'Q!%Q,4!6#'29.$%!,4!;&4.67!RQ.!"HY)!Z2,6.5,$.4!4%&%.(!
?,'HJ3'4-+G.&'(#'$"#$%"#&'720-'%'4G//282#,0'&#E"##'+/'%,%.)424'0+'$"+@2&#'
&#8242+,P':%S#"4'720-'2,/+":%02+,I'7-28-'#,%(.#4'0-#:'0+':%S#'%'&#8242+,'
7-28-'2,0#..2E#,0.)'0%S#4'%88+G,0'+/'#,@2"+,:#,0%.'8+,4#TG#,8#4M'?,'
#@%.G%02+,'+/'0-#'#,@2"+,:#,0%.'#//#804'+/'0-#'$"+$+4#&'$"+B#80',##&',+0'(#'
#R-%G402@#I'(G0'0-#'4G//282#,8)'+/'%,'HJ3'24'0+'(#'"#@2#7#&'2,'.2E-0'+/'7-%0'24'
"#%4+,%(.)'/#%42(.#M'924%E"##:#,0'%:+,E'#R$#"04'&+#4',+0':%S#'%,'HJ3'
2,%&#TG%0#I'(G0'0-#'HJ3'4-+G.&'4G::%"2U#'0-#':%2,'$+2,04'+/'&24%E"##:#,0'
%:+,E'0-#'#R$#"04M'Q-#'8+G"04'-%@#'.++S#&',+0'/+"'$#"/#802+,I'(G0'/+"'%&#TG%8)I'
8+:$.#0#,#44I'%,&'%'E++&'/%20-'#//+"0'%0'/G..'&248.+4G"#M'*D#802+,'=O=O=5'
B[^'8SJ;=2SI8S6M]'=8J;8H'Q=2*8!!'
RQ.!9&M#*!4%.14!,$!%Q.!.$-,*#$9.$%&5!*.-,.8!1*#'.44/!&4!*.X2,*.6!2$6.*!"HY)/!&*.!
#2%5,$.6!;.5#87!RQ.!4%.14!&*.!1*.4.$%.6!,$!4.X2.$%,&5!#*6.*7!

12. F7 S.0"4&'.5'Q,&<+,+0".#'_S2Q`[!)W%.*!6.',6,$<!%Q&%!&$!HK+!,4!*.X2,*.6/!%Q.!5.&6!
&<.$'3!924%!W,5.!&$!]VL!4#5,',%,$<!,$12%!#$!%Q.!HK+!4'#1.!%#!%Q.!J%&%.!"5.&*,$<Q#24./!
#%Q.*!'#$'.*$.6!&<.$',.4/!&$6!1&*%,.4!1*.-,#2453!*.X2.4%,$<!$#%,'.!,$!8*,%,$<!="HY)!
Z2,6.5,$.4!J.'%,#$!FT?BGj!L2;5,'!+.4#2*'.4!"#6.!J.'%,#$!GF?>G7G@7!RQ.!]VL!924%!
;.!1#4%.6!,$!%Q.!"#2$%3!"5.*Oe4!#WW,'.!W#*!A?!6&347!RQ.!]VL!9&3!;.!&''#91&$,.6!;3!
&$!K$,%,&5!J%263!%Q&%!,6.$%,W,.4!%Q.!,442.!&*.&4!W#*!8Q,'Q!%Q.!1*#1#4.6!1*#M.'%!'#256!
'*.&%.!4,<$,W,'&$%!.$-,*#$9.$%&5!,91&'%47!
G7 U,+50'8#9",.#:&#0+%';:<+40'=&<.,0'_U8;=`[!RQ.!0HK+!924%!'#$%&,$(!!
&@!!R&;5.!#W!'#$%.$%4!#*!,$6.Ij!!
;@!!J299&*3j!
'@!!L*#M.'%!6.4'*,1%,#$j!
6@!!H$-,*#$9.$%&5!4.%%,$<j!
.@!!0,4'244,#$!#W!4,<$,W,'&$%!,91&'%4!=6,*.'%/!,$6,*.'%/!'2925&%,-./!<*#8%QD
,$62',$<!&$6!2$&-#,6&;5.!,91&'%4@j!
W@!!0,4'244,#$!#W!&5%.*$&%,-.4j!!
<@!!^,%,<&%,#$!9.&42*.4j!&$6!!
Q@!!0,4'244,#$!#W!,**.-.*4,;5.!'Q&$<.47!!
A7 S.0"4&'.5'*.:<%&0".#ZS.0"4&'.5'M9+"%+N"%"0-'.5'U,+50'8;=[!)!5.&6!&<.$'3!924%!
W,5.!&!]#%,'.!#W!"#915.%,#$!8,%Q!%Q.!J%&%.!"5.&*,$<Q#24.!8Q.$!,%!'#915.%.4!&!0*&W%!
HK+!&$6!1*.1&*.!&!L2;5,'!]#%,'.!#W!)-&,5&;,5,%3!W#*!%Q.!0*&W%!HK+7!RQ.!5.&6!&<.$'3!
924%!15&'.!%Q.!]#%,'.!,$!%Q.!"#2$%3!"5.*Oe4!#WW,'.!W#*!ST!6&34!=L2;5,'!+.4#2*'.4!
"#6.!J.'%,#$!GF?>G@!&$6!4.$6!&!'#13!#W!%Q.!]#%,'.!%#!&$3#$.!*.X2.4%,$<!,%!="HY)!
Z2,6.5,$.4!J.'%,#$!FT?BE@7!)66,%,#$&553/!12;5,'!$#%,'.!#W!0HK+!&-&,5&;,5,%3!924%!;.!
<,-.$!%Q*#2<Q!&%!5.&4%!#$.!#W!%Q.!W#55#8,$<!1*#'.62*.4(!&@!12;5,'&%,#$!,$!&!
$.841&1.*!#W!<.$.*&5!',*'25&%,#$j!;@!1#4%,$<!#$!&$6!#WW!%Q.!1*#M.'%!4,%.j!&$6!'@!6,*.'%!
9&,5,$<!%#!#8$.*4!&$6!#''21&$%4!#W!'#$%,<2#24!1*#1.*%,.47!RQ.!5.&6!&<.$'3!924%!
4#5,',%!,$12%!W*#9!#%Q.*!&<.$',.4!&$6!%Q.!12;5,'/!&$6!*.41#$6!,$!8*,%,$<!%#!&55!
'#99.$%4!*.'.,-.6!=L2;5,'!+.4#2*'.4!"#6.!J.'%,#$4!GFF?S!&$6!GFGTA@7!RQ.!
9,$,929!12;5,'!*.-,.8!1.*,#6!W#*!&!0HK+!,4!A?!6&347!Q.$!&!0*&W%!HK+!,4!4.$%!%#!%Q.!
J%&%.!"5.&*,$<Q#24.!W#*!*.-,.8/!%Q.!12;5,'!*.-,.8!1.*,#6!924%!;.!ST!6&34!2$5.44!%Q.!
"5.&*,$<Q#24.!=L2;5,'!+.4#2*'.4!"#6.!GF?>F@!&11*#-.4!&!4Q#*%.*!1.*,#67!!
S7 T"#+%'8;=[!)!a,$&5!HK+!924%!,$'526.(!&@!%Q.!0*&W%!HK+j!;@!'#1,.4!#W!'#99.$%4!
*.'.,-.6!62*,$<!12;5,'!*.-,.8j!'@!5,4%!#W!1.*4#$4!&$6!.$%,%,.4!'#99.$%,$<j!&$6!6@!
*.41#$4.4!%#!'#99.$%47!!
T7 *&,0"5"4+0".#'.5'T8;=[!L*,#*!%#!9&O,$<!&!6.',4,#$!#$!&!1*#1#4.6!1*#M.'%/!%Q.!5.&6!
&<.$'3!924%!'.*%,W3!%Q&%(!&@!%Q.!aHK+!Q&4!;..$!'#915.%.6!,$!'#915,&$'.!8,%Q!"HY)j!
;@!%Q.!a,$&5!HK+!8&4!1*.4.$%.6!%#!%Q.!6.',4,#$D9&O,$<!;#63!#W!%Q.!5.&6!&<.$'3j!&$6!
'@!%Q.!6.',4,#$D9&O,$<!;#63!*.-,.8.6!&$6!'#$4,6.*.6!%Q.!,$W#*9&%,#$!,$!%Q.!a,$&5!
H5+!1*,#*!%#!&11*#-,$<!&!1*#M.'%!="HY)!Z2,6.5,$.4!J.'%,#$!FT?>?@7!!
C7 ]&+3'M$&#4-'Q,.a&40'U&4")".#[!)!5.&6!&<.$'3!9&3(!&@!6,4&11*#-.!&!1*#M.'%!

13. ;.'&24.!#W!,%4!4,<$,W,'&$%!.$-,*#$9.$%&5!.WW.'%4j!;@!*.X2,*.!'Q&$<.4!%#!&!1*#M.'%!%#!
*.62'.!#*!&-#,6!4,<$,W,'&$%!.$-,*#$9.$%&5!.WW.'%4j!#*!'@!&11*#-.!&!1*#M.'%!6.41,%.!,%4!
4,<$,W,'&$%!.$-,*#$9.$%&5!.WW.'%4/!,W!%Q.!1*#1.*!W,$6,$<4!&$6!4%&%.9.$%!#W!#-.**,6,$<!
'#$4,6.*&%,#$4!&*.!&6#1%.6!="HY)!Z2,6.5,$.4!J.'%,#$4!FT?SG!&$6!FT?SA@7!!
E7 T"#3"#$)Z!0+0&:&#0'.5'29&,,"3"#$'*.#)"3&,+0".#)7!a#*!.&'Q!4,<$,W,'&$%!,91&'%!
#W!%Q.!1*#M.'%!,6.$%,W,.6!,$!%Q.!HK+/!%Q.!5.&6!#*!*.41#$4,;5.!&<.$'3!924%!W,$6/!;&4.6!
#$!42;4%&$%,&5!.-,6.$'./!%Q&%!.,%Q.*(!&@!%Q.!1*#M.'%!Q&4!;..$!'Q&$<.6!%#!&-#,6!#*!
42;4%&$%,&553!*.62'.!%Q.!9&<$,%26.!#W!%Q.!,91&'%j!;@!'Q&$<.4!%#!%Q.!1*#M.'%!&*.!
8,%Q,$!&$#%Q.*!&<.$'3m4!M2*,46,'%,#$!&$6!42'Q!'Q&$<.4!Q&-.!#*!4Q#256!;.!&6#1%.6j!#*!
'@!41.',W,'!.'#$#9,'/!4#',&5/!#*!#%Q.*!'#$4,6.*&%,#$4!9&O.!%Q.!9,%,<&%,#$!9.&42*.4!
#*!1*#M.'%!&5%.*$&%,-.4!,$W.&4,;5.!="HY)!Z2,6.5,$.4!J.'%,#$!FT?>F@7!KW!&$!&<.$'3!
&11*#-.4!&!1*#M.'%!8,%Q!2$&-#,6&;5.!4,<$,W,'&$%!.$-,*#$9.$%&5!.WW.'%4/!,%!924%!
1*.1&*.!&!8*,%%.$!J%&%.9.$%!#W!V-.**,6,$<!"#$4,6.*&%,#$4!%Q&%!4.%4!W#*%Q!%Q.!41.',W,'!
4#',&5/!.'#$#9,'/!#*!#%Q.*!*.&4#$4!4211#*%,$<!%Q.!&<.$'3m4!6.',4,#$7!!
B7 I"0"$+0".#'I.#"0.,"#$'=&<.,0"#$'Q,.$,+:[!Q.$!&$!&<.$'3!9&O.4!W,$6,$<4!#$!
4,<$,W,'&$%!.WW.'%4!,6.$%,W,.6!,$!%Q.!HK+/!,%!924%!&6#1%!&!*.1#*%,$<!#*!9#$,%#*,$<!
1*#<*&9!W#*!9,%,<&%,#$!9.&42*.4!%Q&%!8.*.!&6#1%.6!#*!9&6.!'#$6,%,#$4!#W!1*#M.'%!
&11*#-&5!%#!9,%,<&%.!4,<$,W,'&$%!.WW.'%47!!
>7 S.0"4&'.5'U&0&,:"#+0".#[!)$!&<.$'3!924%!W,5.!&!]#%,'.!#W!0.%.*9,$&%,#$!&W%.*!
6.',6,$<!%#!&11*#-.!&!1*#M.'%!W#*!8Q,'Q!&$!HK+!,4!1*.1&*.6!="HY)!Z2,6.5,$.4!J.'%,#$!
FT?>S@7!)!5#'&5!&<.$'3!924%!W,5.!%Q.!]#%,'.!8,%Q!%Q.!"#2$%3!"5.*O7!RQ.!]#%,'.!924%!
;.!1#4%.6!W#*!A?!6&34!&$6!4.$%!%#!&$3#$.!1*.-,#2453!*.X2.4%,$<!$#%,'.7!L#4%,$<!#W!
%Q.!]#%,'.!4%&*%4!&!A?D6&3!4%&%2%.!#W!5,9,%&%,#$4!#$!"HY)!5.<&5!'Q&55.$<.4!=L2;5,'!
+.4#2*'.4!"#6.!J.'%,#$!GFFCEn'o@7!
!
!
!
!
!
!
!
!
!
!

14. @[A'Q=2R8*6'U8!*=;Q6;2S'
RQ,4!4.'%,#$!6.4'*,;.4!%Q.!L*#1#4.6!J,$<5.!U4.!"&**3#2%!N&<!+.62'%,#$!V*6,$&$'.!
=cL*#1#4.6!V*6,$&$'.d@/!,$'526,$<!,$W#*9&%,#$!&;#2%!%Q.!1*#M.'%!41#$4#*/!%Q.!
1*#M.'%!5#'&%,#$/!9&M#*!1*#M.'%!'Q&*&'%.*,4%,'4/!1*#M.'%!#;M.'%,-.4/!&$6!6,4'*.%,#$&*3!
&11*#-&54!$..6.6!W#*!1*#M.'%!&11*#-&57!
@[B'Q=2R8*6'!Q2S!2='
J&$!N.*$&*6,$#!"#2$%3!&4%.!^&$&<.9.$%!!
4#5,678&4%.9&,5:61874;'#2$%37<#-!
=>?>@!ABCDBE?F!
"#$%&'%(!)*%!+,-.*&/!0.12%3!0,*.'%#*!
",%3!#W!+.65&$64D!Y2&5,%3!#W!P,W.!
AT!"&M#$!J%*..%/!J2,%.!GGG!!
+.65&$64/!")!>GAEA!!!!
=>?>@!E>BDECTT!
"#$%&'%(!a*.6!"&*6.$&4/!Y2&5,%3!#W!P,W.!0,*.'%#*!
@[@'Q=2R8*6']2*M6;2S'
a#*!%Q.!12*1#4.4!#W!%Q,4!&$&534,4/!%Q,4!6#'29.$%!&4429.4!%Q&%!%Q.!L*#1#4.6!
V*6,$&$'.!8#256!&1153!%#!41.',W,.6!*.%&,5!.4%&;5,4Q9.$%4!4.55,$<!<*#'.*3!,%.94/!
,$'526,$</!;2%!$#%!5,9,%.6!%#/!6*2<!4%#*.4/!1Q&*9&',.4/!421.*9&*O.%4/!<*#'.*3!4%#*.4/!
'#$-.$,.$'.!W##6!4%#*.4/!W##6!9&*%4/!#*!#%Q.*!4,9,5&*!*.%&,5!4%#*.4!#*!.$%,%,.4/!&$6!,4!
5#'&%.6!8,%Q,$!&$3!#W!%Q.!W#55#8,$<!',%,.4!&$6!%#8$4!5#'&%.6!,$!J&$!N.*$&*6,$#!
"#2$%3(!
D +.65&$64!
RQ.!&*.&!8,%Q,$!%Q.!M2*,46,'%,#$&5!5,9,%4!#W!%Q.!&W#*.9.$%,#$.6!',%,.4!&$6!%#8$4!,$!
J&$!N.*$&*6,$#!"#2$%3/!&*.!*.W.**.6!%#!,$!%Q,4!6#'29.$%!&4!%Q.!cJ%263!)*.&7d!a,<2*.!
GDF!,5524%*&%.4!%Q.!J%263!)*.&!,$!,%4!*.<,#$&5!'#$%.I%!&$6!5#'&%,#$!*.5&%,-.!%#!#%Q.*!
',%,.4!&$6!%#8$4!,$!J&$!N.*$&*6,$#!"#2$%37!
!
!
'
'
'
'

15. T"$/,&'@VB'=&$".#+%'].4+0".#'I+<'+#3'I+<'.5'*"0-'.5'=&3%+#3)'
+.<,#$&5!P#'&%,#$!^&1D!"#2$%3!#W!J&$!N.*$&*6,$#!
p!
+.%*,.-.6!W*#9!Q%%1(ll88874;'#2$%37<#-l^&,$l,9&<.4l[#9.1&<.l',%,.49&17<,W!
",%3!#W!+.65&$64!^&1!
!
p!+.%*,.-.6!W*#9!9&147<##<5.7'#9!

16. @[C'8O;!6;SK'1MK'(!8'*>M=M*68=;!6;*!'
G7A7F!"&**3#2%!N&<4!,$!%Q.!J%263!)*.&!
RQ.!%31.4!&$6!&9#2$%4!#W!'&**3#2%!;&<4!'2**.$%53!24.6!8,%Q,$!%Q.!J%263!)*.&!&*.!
6,4'244.6!;.5#87!
+['6-<&)'.5'*+,,-./0'1+$)['
!"#$&'()&'Q%+)0"4'*+,,-./0'1+$)[!J,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&*.!%31,'&553!
9&6.!#W!%Q,$/!5,<Q%8.,<Q%!Q,<Q!6.$4,%3!1#53.%Q35.$.!=[0LH@!=[36.*!"#$425%,$</!
G??E@7!a#*!'#$429.*4/!%Q.3!#WW.*!&!Q3<,.$,'/!#6#*5.44/!8&%.*!*.4,4%&$%!&$6!4%2*63!
'&**3,$<!4&'O/!;2%!&*.!<.$.*&553!,$%.$6.6!W#*!#$.!24.!;.W#*.!6,41#4&57!"2**.$%53/!
&59#4%!G?!;,55,#$!#W!%Q.4.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&*.!'#$429.6!&$$2&553!,$!
"&5,W#*$,&!=J&$!^&%.#!"#2$%3!a,$&5!HK+/!V'%#;.*!G?FGj!Z*..$!",%,.4!"&5,W#*$,&!^H)/!
G?F?j!&$6!"K^N/!G??E@7!J%26,.4!42<<.4%!%Q&%!'#$-.$%,#$&5!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!&*.!9&$2W&'%2*.6!;3!,$6.1.$6.$%!9&$2W&'%2*.*4!8Q#!12*'Q&4.!
-,*<,$!*.4,$!W*#9!1.%*#'Q.9,'&5!'#91&$,.4!#*!#;%&,$!$#$D-,*<,$!*.4,$!W*#9!
*.'3'5.*4!#*!#%Q.*!4#2*'.4!&$6!%Q&%!C>7Af!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!24.6!,$!
%Q.!U$,%.6!J%&%.4!&*.!9&6.!,$!%Q.!U$,%.6!J%&%.4!=J%.1Q.$!P7!k#4.1Q/!^&3!FE/!G?FA@7!
RQ.![0LH!;&<!'3'5.!;.<,$4!8,%Q!%Q.!8&4%.D!;31*#62'%4!#W!#,5!=,91#*%.6!;&<4@!#*!
$&%2*&5!<&4!=6#9.4%,'!;&<4@!,$%#!Q36*#'&*;#$!9#$#9.*4/!8Q,'Q!&*.!%Q.$!W2*%Q.*!
1*#'.44.6!,$%#!1#539.*4!=[.**.*&!.%!&5/!G??Bj!"#2$%3!#W!P#4!)$<.5.4/!G??>j!J%.1Q.$!
P7!k#4.1Q/!^&3!FE/!G?FA@7!RQ.4.!1#539.*4!&*.!'#$$.'%.6!8,%Q!Q.&%!%#!W#*9!15&4%,'!
*.4,$4/!8Q,'Q!&*.!%Q.$!;5#8$!%Q*#2<Q!%2;.4!%#!'*.&%.!%Q.!&,*!1#'O.%!#W!%Q.!;&<7!V$'.!
'##5.6/!%Q.!15&4%,'!W,59!,4!4%*.%'Q.6!%#!%Q.!6.4,*.6!4,b.!#W!%Q.!;&<!&$6!'2%!,$%#!
,$6,-,62&5!;&<47!R31,'&5!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&*.!&11*#I,9&%.53!W#2*!%#!
$,$.!<*&94!,$!8.,<Q%/!&$6!'&$!;.!12*'Q&4.6!,$!;25O!W#*!&11*#I,9&%.53!%8#!%#!W,-.!
'.$%4!1.*!;&<!=)H)!R.'Q$#5#<3/!G??>@7!J,$<5.!24.!15&4%,'!'&**3#2%!;&<4!'&$!;.!
*.24.6!;3!'24%#9.*4!&$6!&*.!*.'3'5&;5.7!)11*#I,9&%.53!FF7Ff!#W!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!,$!%Q.!U$,%.6!J%&%.4!&*.!*.'3'5.6!=UJ!HL)/!G?FF@7!K$!&66,%,#$/!
'24%#9.*4!4#9.%,9.4!*.24.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!,$!15&'.!#W!#%Q.*!%31.4!
#W!;&<4/!W#*!.I&915.!&4!49&55!%*&4Q!'&$!5,$.*4!#*!%#!1,'O!21l%*&$41#*%!1.%!8&4%.7!)!
4%263!W*#9!Z*.&%!N*,%&,$!=H$-,*#$9.$%!)<.$'3/!a.;*2&*3!G?FF@!1*#-,6.6!4#9.!
.4%,9&%.4!W*#9!H$<5&$6!&$6!&5.4!#W!%Q.!1.*'.$%&<.!#W!'24%#9.*4!%Q&%!8.*.!
1*#-,6.6!&!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!&$6!*.24.6!%Q.!;&<!W#*!#%Q.*!12*1#4.47!
[#8.-.*/!%Q.4.!.4%,9&%.4!&*.!41.',W,'!%#!;.Q&-,#*!,$!Z*.&%!N*,%&,$7!!RQ.*.!,4!$#!42'Q!
.4%,9&%.!W#*!*.24.!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!;3!'24%#9.*4!,$!%Q.!U$,%.6!
J%&%.4!#*!9#*.!41.',W,'&553!W#*!'24%#9.*4!,$!J&$!N.*$&*6,$#!"#2$%37!Q,5.!,%!'&$!;.!
*.&4#$&;53!&4429.6!%Q&%!&!1#*%,#$!#W!'24%#9.*4!,$!J&$!N.*$&*6,$#!"#2$%3!%Q&%!
*.'.,-.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&%!&!4%#*.!8Q.*.!%Q.3!9&6.!&!12*'Q&4.!
&'%2&553!*.24.!%Q.!;&<!W#*!#%Q.*!24.4/!,%!8#256!;.!41.'25&%,-.!%#!&4429.!%Q&%!%Q.!
.I&'%!4&9.!$29;.*!#W!'24%#9.*4!,$!J&$!N.*$&*6,$#!"#2$%3!*.24.!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!&4!,$!H$<5&$6!&$6!&5.47!J,$'.!8.!6#$e%!Q&-.!41.',W,'!4%&%4!W#*!*.24.!
,$!J&$!N.*$&*6,$#!"#2$%3/!,%!8#256!;.!41.'25&%,-.!%#!&''#2$%!W#*!42'Q!;.Q&-,#*!,$!
#2*!&$&534,47!].-.*%Q.5.44/!,%!,4!$#%.6!%Q&%!<.$.*&553!4#9.!'24%#9.*4!6#!*.24.!%Q.,*!

17. 4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&W%.*!24,$<!%Q.9!%#!%*&$41#*%!12*'Q&4.4!W*#9!&!4%#*.!
%#!Q#9.7!
=&4-4%+N%&'Q+<&,'*+,,-./0'1+$)[!P,O.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<4!&*.!242&553!6,4%*,;2%.6!W*..!#W!'Q&*<.!%#!'24%#9.*4!&%!<*#'.*3!
4%#*.4/!&$6!&*.!,$%.$6.6!W#*!#$.!24.!;.W#*.!6,41#4&57!L&1.*!'&**3#2%!;&<4!&*.!
*.'3'5&;5.!&$6!'&$!;.!*.24.6!;3!'24%#9.*47!L&1.*!'&**3#2%!;&<4!&*.!&54#!
'#91#4%&;5.7!)11*#I,9&%.53!S>7Tf!#W!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!$&%,#$8,6.!
&*.!*.'3'5.6!=HL)/!G?FF@7!+.1#*%4!,$6,'&%.!%Q&%!'#$429.*4!$&%,#$&553!*.'3'5.!1&1.*!
1*#62'%4!&%!&!*&%.!#W!T?!1.*'.$%!=K$%.*$&%,#$&5!L&1.*/!G?FG@7!L&1.*!'&**3#2%!;&<4!
&*.!%31,'&553!1*#62'.6!W*#9!O*&W%!1&1.*!&$6!8.,<Q!;.%8..$!T?!&$6!F??!<*&94/!
6.1.$6,$<!#$!8Q.%Q.*!#*!$#%!%Q.!;&<!,$'526.4!Q&$65.4!=)H)!R.'Q$#5#<3/!G??>@7!
RQ.4.!;&<4!'&$!;.!12*'Q&4.6!,$!;25O!W#*!&11*#I,9&%.53!FT!%#!GT!'.$%4!1.*!;&<!=",%3!
#W!L&4&6.$&/!G??B@7!q*&W%!1&1.*!;&<4!&*.!9&$2W&'%2*.6!W*#9!&!1251!%Q&%!,4!1*#62'.6!
;3!6,<.4%,$<!&!9&%.*,&5!,$%#!,%4!W,;*#24!'#$4%,%2.$%4!-,&!'Q.9,'&5!&$6l#*!9.'Q&$,'&5!
9.&$4!=a+K0ZH/!G??G@7!q*&W%!1251!,4!1*#62'.6!;3!'Q.9,'&5!4.1&*&%,#$!#W!'.5525#4.!
W*#9!5,<$,$!=H$-,*#$9.$%&5!L&1.*!].%8#*O/!G??E@7!"Q.9,'&54!24.6!,$!%Q,4!1*#'.44!
,$'526.!'&24%,'!4#6&4/!4#6,29!Q36*#I,6./!4#6,29!425W,6./!&$6!'Q5#*,$.!'#91#2$64!
=H$-,*#$9.$%&5!L&1.*!].%8#*O/!G??E@7!RQ.!1&1.*!'&**3#2%!;&<4!&*.!%31,'&553!9&6.!
W*#9!%*..4!=1&1.*@!&$6!'#*$!=<52.@/!8Q,'Q!&*.!;#%Q!*.D15&$%.6!&$6!*.D<*#8$!
=K$%.*$&%,#$&5!L&1.*/!G?FG@7!L*#'.44.6!&$6!%Q.$!6*,.6!&$6!4Q&1.6!,$%#!5&*<.!*#554/!
%Q.!1&1.*!,4!W#*9.6!,$%#!;&<4/!;&5.6/!&$6!%Q.$!6,4%*,;2%.6!%#!<*#'.*3!4%#*.47!L&1.*!
'&**3#2%!;&<4!Q&-.!9&$3!#%Q.*!24.4!#2%4,6.!#W!<*#'.*3!4%#*.4/!,$'526,$<!24.!&4!
*.'3'5,$<!&$6!'#91#4%,$<!'#$%&,$.*4/!4'Q##5!;##O!'#-.*4/!<,W%!8*&1/!&$6!#%Q.*!'*&W%!
1*#M.'%4/!&$6!24.!W#*!1,'$,'4!#*!41#*%,$<!.-.$%4!=K$%.*$&%,#$&5!L&1.*/!G?FG@7!
1".3&$,+3+N%&'*+,,-./0'1+$)[!^25%,15.!%31.4!#W!4,$<5.!24.!;,#6.<*&6&;5.!;&<4!&*.!
'2**.$%53!&-&,5&;5./!6,4%,$<2,4Q.6!;3!%Q.,*!9&%.*,&5!'#91#$.$%47!N,#6.<*&6&;5.!;&<4!
&*.!'#91#4.6!#W!%Q.*9#15&4%,'!4%&*'QD;&4.6!1#539.*4/!8Q,'Q!&*.!9&6.!8,%Q!&%!5.&4%!
>?f!4%&*'Q!W*#9!*.$.8&;5.!*.4#2*'.4!42'Q!&4!'#*$/!1#%&%#/!%&1,#'&/!#*!8Q.&%/!#*!
W*#9!1#53.4%.*4/!9&$2W&'%2*.6!W*#9!Q36*#'&*;#$4/!#*!4%&*'Qr1#53.4%.*!;5.$64!
=k&9.4!&$6!Z*&$%/!G??T@7!RQ.4.!;&<4!&*.!&11*#I,9&%.53!%Q.!4&9.!4,b.!&$6!8.,<Q%!&4!
[0LH!15&4%,'!;&<4/!;2%!&*.!9#*.!.I1.$4,-.!&$6!#$53!;,#6.<*&6.!,W!%Q.3!&*.!4.$%!%#!
'#99.*',&5!'#91#4%,$<!W&',5,%,.47!RQ.3!'&$!;.!12*'Q&4.6!,$!;25O!W#*!&11*#I,9&%.53!
FG!%#!A?!'.$%4!1.*!;&<!=8887.'#1*#62'%47'#9/!G??>@7!
=&/)+N%&'*+,,-./0'1+$)[!+.24&;5.!'&**3#2%!;&<4!'&$!;.!9&6.!W*#9!15&4%,'!#*!&!
-&*,.%3!#W!'5#%Q4!42'Q!&4!-,$35!#*!'#%%#$7!RQ.4.!;&<4!6,WW.*!W*#9!%Q.!4,$<5.!24.!;&<4!,$!
%Q.,*!8.,<Q%!&$6!5#$<.-,%37!RQ.3!&*.!;2,5%!%#!8,%Q4%&$6!9&$3!24.4/!8.,<Q!&%!5.&4%!%.$!
%,9.4!8Q&%!&$![0LH!15&4%,'!;&<!8.,<Q4!&$6!%8#!%,9.4!8Q&%!&!1&1.*!;&<!8.,<Q4/!&$6!
*.X2,*.!<*.&%.*!9&%.*,&5!'#$4291%,#$!#$!&!1.*!;&<!;&4,4!%Q&$![0LH!15&4%,'!;&<4!
=HI'.5L5&4!)24%*&5,&/!G??Sj!",%3!#W!L&4&6.$&/!G??B@7!^&$3!%31.4!#W!*.24&;5.!'&**3#2%!
;&<4!&*.!&-&,5&;5.!%#6&37!RQ.4.!,$'526.(!=F@!$#$D!8#-.$!1#531*#135.$.!*&$<,$<!W*#9!
_FD_G7T?!1.*!;&<j!=G@!'#%%#$!'&$-&4!;&<4/!8Q,'Q!&*.!&11*#I,9&%.53!_T7??!1.*!;&<j!
=A@!;&<4!9&6.!W*#9!*.'3'5.6!8&%.*l4#6&!;#%%5.4/!8Q,'Q!&*.!&11*#I,9&%.53!_C7??!1.*!
;&<j!=S@!1#53.4%.*!&$6!-,$35/!8Q,'Q!&*.!&11*#I,9&%.53!_F?7??!1.*!;&<j!&$6!=T@!F??f!

18. '#%%#$/!8Q,'Q!&*.!&11*#I,9&%.53!_T7??!%#!_F?7??!1.*!;&<7!
RQ.!1*#62'%,#$!4%&<.4!,$!*.24&;5.!'&**3#2%!;&<!5,W.!'3'5.4!6.1.$6!#$!%Q.!9&%.*,&54!
24.67!V$'.!24.6/!%Q.4.!;&<4!&*.!*.24.6!2$%,5!8#*$!#2%!%Q*#2<Q!8&4Q,$<!#*!*.<25&*!
24./!&$6!%Q.$!%31,'&553!6,41#4.6!.,%Q.*!,$!%Q.!5&$6W,55!#*!*.'3'5,$<!W&',5,%3!=,W!
*.'3'5&;5.@7!
N['*+,,-./0'1+$'()&'"#'0Y&'!0/3-'M,&+[!J%&%.8,6./!&59#4%!G?!;,55,#$!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!=#*!&11*#I,9&%.53!TAF!;&<4!1.*!1.*4#$@!&*.!'#$429.6!
&$$2&553!,$!"&5,W#*$,&!=J&$!^&%.#!"#2$%3!a,$&5!HK+/!V'%#;.*!G?FGj!Z*..$!",%,.4!
"&5,W#*$,&!^H)/!G?F?j!&$6!"K^N/!G??E@7!N&4.6!#$!%Q,4!1.*!'&1,%&!;&</!*.%&,5!
'24%#9.*4!8,%Q,$!%Q.!J%263!)*.&!'2**.$%53!24.!&;#2%!>T!9,55,#$!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!1.*!3.&*!=4..!R&;5.!GDF@7!
RQ.!'24%#9.*!;&4.!#W!*.%&,5.*4!5#'&%.6!8,%Q,$!%Q.!J%263!)*.&!9&3!,$'526.!*.4,6.$%4!
#W!'#992$,%,.4!5#'&%.6!8,%Q,$!#*!#2%4,6.!#W!%Q.!J%263!)*.&!=,7.7/!-,4,%#*4!8Q#!5,-.!
#2%4,6.!%Q.!J%263!)*.&!;2%!%*&-.5!%#!4Q#1!8,%Q,$!%Q.!J%263!)*.&@7!P,O.8,4./!J%263!
)*.&!*.4,6.$%4!9&3!4Q#1!#2%4,6.!#W!%Q.!',%,.4!&$6!%#8$4!%Q&%!'#91*,4.!%Q.!J%263!
)*.&7!K$!#*6.*!%#!.4%,9&%.!%Q.!'2**.$%!$29;.*!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!
24.6!1.*!3.&*!,$!%Q.!J%263!)*.&/!%Q.!HK+!&115,.4!%Q.!*&%.!6,4'244.6!&;#-.!=TAF!4,$<5.!
24.!15&4%,'!'&**3#2%!;&<4!24.6!1.*!1.*4#$l1.*!3.&*@!%#!%Q.!$29;.*!#W!*.4,6.$%4!,$!
%Q.!J%263!)*.&7!RQ,4!.4%,9&%.!,4!'#$4,6.*.6!*.&4#$&;5.!&$6!'#$4.*-&%,-.!W#*!%Q.!
12*1#4.4!#W!%Q,4!&$&534,47!
6+N%&'@VB''8)0":+0&3'!"#$%&'()&'Q%+)0"4'*+,,-./0'1+$'()&'"#'0Y&'!0/3-'M,&+'
J%263!)*.&! L#125&%,#$p! R#%&5!J,$<5.!U4.!L5&4%,'!
"&**3#2%!N&<4!U4.!
)$$2&553pp!
+.65&$64! C>/BFA! AE/?E?/E?A!
!0/3-'M,&+'6.0+%' bDWEBC' CGWAGAWGAC'
p!"&5,W#*$,&!0.1&*%9.$%!#W!a,$&$'./!c",%3l"#2$%3!L#125&%,#$!&$6![#24,$<!H4%,9&%.4d!=^&3!G?FA@7!
ppN&4.6!#$!&$$2&5!4%&%.8,6.!.4%,9&%.4!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!24.!W*#9!%Q.!"K^N!
=G??E@(!G?!;,55,#$!;&<4!24.6!4%&%.8,6.!1.*!3.&*!="K^N/!G??E@!l!AE/CEB/TCA!1.#15.!4%&%.8,6.!
="&5,W#*$,&e4!'2**.$%!1#125&%,#$!&''#*6,$<!%#!%Q.!J%&%.!0.1&*%9.$%!#W!a,$&$'./!G?FG@!s!TAF!;&<4!1.*!
1.*4#$7!N&<!24.!s!1#125&%,#$!I!TAF!;&<4!1.*!1.*4#$7!
@[C[@'=&$/%+0.,-'!&00"#$'
K$!G??C/!"&5,W#*$,&!.$&'%.6!)N!GSS>!="Q&1%.*!BST/!J%&%2%.4!#W!G??C@!&$6!,%!;.'&9.!
.WW.'%,-.!#$!k253!F/!G??E7!RQ.!4%&%2%.!4%&%.4!%Q&%!4%#*.4!1*#-,6,$<!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!%#!'24%#9.*4!924%!1*#-,6.!&%!5.&4%!#$.!15&4%,'!;&<!'#55.'%,#$!;,$!,$!&$!
&''.44,;5.!5#'&%,#$!%#!'#55.'%!24.6!;&<4!W#*!*.'3'5,$<7!RQ.!4%#*.!#1.*&%#*!,4!&54#!
*.X2,*.6!%#!9&O.!*.24&;5.!'&**3#2%!;&<4!&-&,5&;5.!%#!4Q#11.*4!W#*!12*'Q&4.7!)N!
GSS>!&115,.4!%#!*.%&,5!4%#*.4!#W!#-.*!F?/???!4X2&*.!W..%!%Q&%!,$'526.!&!5,'.$4.6!

19. 1Q&*9&'3!&$6!%#!421.*9&*O.%4!8,%Q!<*#44!&$$2&5!4&5.4!#W!_G!9,55,#$!#*!9#*.!%Q&%!
4.55!6*3!<*#'.*,.4/!'&$$.6!<##64/!$#$W##6!,%.94!#*!1.*,4Q&;5.!<##647!J%#*.4!&*.!&54#!
*.X2,*.6!%#!9&,$%&,$!*.'#*64!#W!%Q.,*!)N!GSS>!'#915,&$'.!&$6!9&O.!%Q.9!&-&,5&;5.!
%#!%Q.!"&5,W#*$,&!K$%.<*&%.6!&4%.!^&$&<.9.$%!N#&*6!=$#8!"&5+.'3'5.@!#*!5#'&5!
M2*,46,'%,#$7!
)N!GSS>!W2*%Q.*!*.X2,*.4!%Q.!9&$2W&'%2*.*4!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%#!
6.-.5#1!.62'&%,#$&5!9&%.*,&54!%#!.$'#2*&<.!%Q.!*.62',$</!*.24,$</!&$6!*.'3'5,$<!#W!
4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!&$6!%#!9&O.!%Q.!9&%.*,&54!&-&,5&;5.!%#!4%#*.47!
^&$2W&'%2*.*4!&*.!&54#!*.X2,*.6!%#!8#*O!8,%Q!4%#*.4!#$!%Q.,*!&%D4%#*.!*.'3'5,$<!
1*#<*&94!%#!Q.51!.$42*.!%Q.!1*#1.*!'#55.'%,#$/!%*&$41#*%&%,#$!&$6!*.'3'5,$<!#W!%Q.!
4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!
a,$&553/!)N!GSS>!*.4%*,'%.6!%Q.!&;,5,%3!#W!',%,.4!=,$'526,$<!'Q&*%.*!',%,.4@!&$6!'#2$%,.4!
%#!*.<25&%.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%Q*#2<Q!,91#4,%,#$!#W!&!W..7!L2;5,'!
+.4#2*'.4!"#6.!J.'%,#$!SGGTS=;@!1*#-,6.6!&4!W#55#84(!
U$5.44!.I1*.4453!&2%Q#*,b.6!;3!%Q,4!'Q&1%.*/!&!',%3/!'#2$%3/!#*!#%Q.*!12;5,'!&<.$'3!
4Q&55!$#%!&6#1%/!,915.9.$%/!#*!.$W#*'.!&$!#*6,$&$'./!*.4#52%,#$/!*.<25&%,#$/!#*!*25.!
%#!6#!&$3!#W!%Q.!W#55#8,$<(!
=F@!!+.X2,*.!&!4%#*.!%Q&%!,4!,$!'#915,&$'.!8,%Q!%Q,4!'Q&1%.*!%#!'#55.'%/!
%*&$41#*%/!#*!*.'3'5.!15&4%,'!'&**3#2%!;&<47!!
=G@!!K91#4.!&!15&4%,'!'&**3#2%!;&<!W..!21#$!&!4%#*.!%Q&%!,4!,$!'#915,&$'.!8,%Q!
%Q,4!'Q&1%.*7!!
=A@!!+.X2,*.!&26,%,$<!#*!*.1#*%,$<!*.X2,*.9.$%4!%Q&%!&*.!,$!&66,%,#$!%#!8Q&%!
,4!*.X2,*.6!;3!42;6,-,4,#$!=6@!#W!J.'%,#$!SGGTG/!21#$!&!4%#*.!%Q&%!,4!,$!
'#915,&$'.!8,%Q!%Q,4!'Q&1%.*7!!
RQ#2<Q!)N!GSS>!.I1,*.6!2$6.*!,%4!#8$!%.*94!#$!k&$2&*3!F/!G?FA/!,%!8&4!.I%.$6.6!%#!
k&$2&*3!F/!G?G?!;3!%Q.!&6#1%,#$!#W!JN!FGF>!#$!J.1%.9;.*!>/!G?FG7![#8.-.*/!%Q.!
1*#-,4,#$!5,4%.6!&;#-.!%Q&%!1*..91%4!5#'&5!*.<25&%#*3!&'%,#$!8&4!$#%!.I%.$6.6!&$6!
%Q24!.I1,*.6!#$!k&$2&*3!F/!G?FA7!
RQ.*.!&*.!$#!#%Q.*!"&5,W#*$,&!4%&%2%.4!%Q&%!6,*.'%53!W#'24!#$!'&**3#2%!;&<47!
@[F'Q=2Q2!8U'2=U;SMS*8'*>M=M*68=;!6;*!'
K$!*.41#$4.!%#!'#$'.*$4!*.<&*6,$<!%Q.!.$-,*#$9.$%&5!,91&'%4!#W!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4/!%Q.!",%3!#W!+.65&$64!Q&4!1*.1&*.6!&!'&**3#2%!;&<!8&4%.!*.62'%,#$!
#*6,$&$'.!%Q&%!M2*,46,'%,#$4!8,%Q,$!J&$!N.*$&*6,$#!"#2$%3!'&$!'#$4,6.*!W#*!
&6#1%,#$7!a#*!%Q.!12*1#4.4!#W!%Q,4!HK+/!,%!,4!&4429.6!%Q&%!%Q.!L*#1#4.6!V*6,$&$'.!
8#256!&1153!%#!%Q.!W#55#8,$<!%31.4!#W!*.%&,5!.4%&;5,4Q9.$%4!%Q&%!&*.!#1.*&%,$<!8,%Q,$!
%Q.!5#'&%,#$4!5,4%.6!&;#-.!%Q&%!8#256!;.!42;M.'%!%#!%Q.!L*#1#4.6!V*6,$&$'.!,W!
&6#1%.6!;3!&$!,$6,-,62&5!M2*,46,'%,#$!8,%Q,$!J&$!N.*$&*6,$#!"#2$%3(!

20. )!W255D5,$./!4.5WD4.*-,'.!*.%&,5!4%#*.!8,%Q!<*#44!&$$2&5!4&5.4!#W!%8#!9,55,#$!6#55&*4!
=_G/???/???@/!#*!9#*./!%Q&%!4.554!&!5,$.!#W!6*3!<*#'.*3/!'&$$.6!<##64/!#*!$#$W##6!
,%.94!&$6!4#9.!1.*,4Q&;5.!,%.94j!!
)!4%#*.!#W!&%!5.&4%!F?/???!4X2&*.!W..%!#W!*.%&,5!41&'.!%Q&%!<.$.*&%.4!4&5.4!#*!24.!%&I!
12*42&$%!%#!%Q.!N*&65.3DN2*$4!U$,W#*9!P#'&5!J&5.4!&$6!U4.!R&I!P&8!=L&*%!F7T!
='#99.$',$<!8,%Q!J.'%,#$!EG??@!#W!0,-,4,#$!G!#W!%Q.!+.-.$2.!&$6!R&I&%,#$!"#6.@!
&$6!Q&4!&!1Q&*9&'3!5,'.$4.6!12*42&$%!%#!"Q&1%.*!>!='#99.$',$<!8,%Q!J.'%,#$!
S???@!#W!0,-,4,#$!G!#W!%Q.!N24,$.44!&$6!L*#W.44,#$4!"#6.j!#*!!
)!6*2<!4%#*./!1Q&*9&'3/!421.*9&*O.%/!<*#'.*3!4%#*./!'#$-.$,.$'.!W##6!4%#*./!W##6!
9&*%/!#*!#%Q.*!.$%,%3!.$<&<.6!,$!%Q.!*.%&,5!4&5.!#W!&!5,9,%.6!5,$.!#W!<##64!8Q,'Q!
%31,'&553!,$'526.4!9,5O/!;*.&6/!4#6&/!&$6!4$&'O!W##64/!,$'526,$<!%Q#4.!4%#*.4!8,%Q!&!
R31.!G?!#*!GF!5,X2#*!5,'.$4.!,442.6!;3!%Q.!4%&%.!0.1&*%9.$%!#W!)5'#Q#5,'!N.-.*&<.!
"#$%*#57!!
RQ.!HK+!,4!,$%.$6.6!%#!;.!24.6!;3!.&'Q!&<.$'3!'Q##4,$<!%#!&6#1%!%Q.!V*6,$&$'.!%#!
W25W,55!%Q.!*.X2,*.9.$%4!#W!"HY)!W#*!#*6,$&$'.!&6#1%,#$7!
RQ.!L*#1#4.6!V*6,$&$'.!8#256!*.<25&%.!%Q.!24.!#W!4,$<5.!24.!15&4%,'!&$6!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<4!8,%Q,$!%Q.!M2*,46,'%,#$&5!5,9,%4!#W!%Q.!",%3!#W!+.65&$64/!&$6!,$!
%Q.!W2%2*./!,W!&6#1%.6!;3!&55!#*!4#9.!#W!%Q.!',%,.4!&$6!%#8$4!5#'&%.6!,$!J&$!
N.*$&*6,$#!"#2$%3/!8#256!*.<25&%.!24.!8,%Q,$!%Q#4.!M2*,46,'%,#$&5!5,9,%47!RQ.!,$%.$%!
#W!%Q.!#*6,$&$'.!,4!%#!*.62'.!%Q.!.$-,*#$9.$%&5!,91&'%4!*.5&%.6!%#!%Q.!24.!#W!4,$<5.!
24.!'&**3#2%!;&<4/!&$6!%#!1*#9#%.!&!4Q,W%!%#8&*6!%Q.!24.!#W!*.24&;5.!'&**3#2%!;&<47!
K%!,4!&$%,',1&%.6!%Q&%!;3!1*#Q,;,%,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&$6!*.X2,*,$<!&!
9&$6&%#*3!'Q&*<.!W#*!.&'Q!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!6,4%*,;2%.6!;3!*.%&,5.*4/!
%Q.!L*#1#4.6!V*6,$&$'.!8#256!1*#-,6.!&!6,4,$'.$%,-.!%#!'24%#9.*4!%#!*.X2.4%!
*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!8Q.$!4Q#11,$<!&%!*.<25&%.6!4%#*.4!&$6!1*#9#%.!&!
4Q,W%!%#!%Q.!24.!#W!*.24&;5.!'&**3#2%!;&<4!;3!*.%&,5!'24%#9.*4/!8Q,5.!*.62',$<!%Q.!
$29;.*!#W!4,$<5.!24.!15&4%,'!&$6!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!8,%Q,$!%Q.!
1&*%,',1&%,$<!',%,.4!&$6!%#8$47!
RQ.!#*6,$&$'.!8#256!=F@!1*#Q,;,%!%Q.!W*..!6,4%*,;2%,#$!#W!4,$<5.!24.!15&4%,'!&$6!
*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&$6!=G@!*.X2,*.!*.%&,5!.4%&;5,4Q9.$%4!%#!'Q&*<.!
'24%#9.*4!=&%!5.&4%!_?7?T@!W#*!*.'3'5.6!1&1.*!'&**3#2%!;&<4!&$6/!<.$.*&553/!*.24&;5.!
'&**3#2%!;&<4/!&%!%Q.!1#,$%!#W!4&5.7!J,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&*.!6.W,$.6!,$!%Q.!
L*#1#4.6!V*6,$&$'.!&4!&$3!;&<!9&6.!1*.6#9,$&%.53!#W!15&4%,'!6.*,-.6!W*#9!.,%Q.*!
1.%*#5.29!#*!;,#5#<,'&553D;&4.6!4#2*'.4/!42'Q!&4!'#*$!#*!#%Q.*!15&$%!4#2*'.4/!8Q,'Q!
,4!1*#-,6.6!%#!&!'24%#9.*!&%!%Q.!1#,$%!#W!4&5.7!+.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&*.!
6.W,$.6!,$!%Q.!L*#1#4.6!V*6,$&$'.!&4!1&1.*!;&<4!%Q&%!=F@!'#$%&,$!$#!#56!<*#8%Q!
W,;.*/!=G@!&*.!F??f!*.'3'5&;5.!#-.*&55!&$6!'#$%&,$!&!9,$,929!#W!S?f!1#4%D
'#$429.*!*.'3'5.6!9&%.*,&5/!=A@!,4!'&1&;5.!#W!'#91#4%,$</!=S@!,4!&''.1%.6!W#*!
*.'3'5,$<!,$!'2*;4,6.!1*#<*&94/!=T@!Q&4!1*,$%.6!#$!%Q.!;&<!%Q.!$&9.!#W!%Q.!
9&$2W&'%2*.*/!%Q.!5#'&%,#$!='#2$%*3@!8Q.*.!%Q.!;&<!8&4!9&$2W&'%2*.6/!&$6!%Q.!
1.*'.$%&<.!#W!1#4%'#$429.*!*.'3'5.6!9&%.*,&5!24.6/!&$6!=C@!6,415&'.4!%Q.!8#*6!
c*.'3'5&;5.d!,$!&!Q,<Q53!-,4,;5.!9&$$.*!#$!%Q.!#2%4,6.!#W!%Q.!;&<7!+.<25&%.6!;&<4!
8#256!$#%!,$'526.!1*#62'%!;&<4!=6.W,$.6!&4!&$3!;&<!8,%Q#2%!Q&$65.4!24.6!

21. .I'524,-.53!%#!'&**3!1*#62'./!9.&%4/!#*!#%Q.*!W##6!,%.94!42'Q!&4!;25O!W##64!%#!%Q.!
1#,$%!#W!4&5.!,$4,6.!&!4%#*.!#*!%#!1*.-.$%!42'Q!W##6!,%.94!W*#9!'#9,$<!,$%#!6,*.'%!
'#$%&'%!8,%Q!#%Q.*!12*'Q&4.6!,%.94@7!
)4!$#%.6!&;#-./!%Q.!L*#1#4.6!V*6,$&$'.!8#256!*.X2,*.!*.<25&%.6!*.%&,5.*4!%#!
,91#4.!&!9&$6&%#*3!'Q&*<.!=#W!&%!5.&4%!_?7?T@!W#*!.&'Q!*.'3'5&;5.!1&1.*!'&**3#2%!
;&<!&$6l#*!*.24&;5.!'&**3#2%!;&<!1*#-,6.67!+.%&,5!.4%&;5,4Q9.$%4!8#256!;.!
*.X2,*.6!%#!,$6,'&%.!#$!%Q.!'24%#9.*!*.'.,1%!%Q.!$29;.*!#W!*.'3'5&;5.!1&1.*!
'&**3#2%!;&<4!&$6l#*!*.24&;5.!'&**3#2%!;&<4!1*#-,6.6!&$6!%Q.!%#%&5!&9#2$%!'Q&*<.6!
W#*!%Q.!;&<47!RQ.!L*#1#4.6!V*6,$&$'.!8#256!$#%!&1153!%#!*.4%&2*&$%4!&$6!#%Q.*!W##6!
4.*-,'.!1*#-,6.*4/!&55#8,$<!%Q.9!%#!1*#-,6.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%#!
'24%#9.*4!W#*!1*.1&*.6!%&O.D#2%!W##6!,$%.$6.6!W#*!'#$4291%,#$!#WW!#W!%Q.!W##6!
1*#-,6.*e4!1*.9,4.47!
!
@[^'MS6;*;QM68U'*>MSK8!';S'1MK'(!8'M!'M'=8!(]6'2T'6>8'Q=2Q2!8U'
2=U;SMS*8'
RQ.!&$&534,4!,$!%Q,4!HK+!&4429.4!%Q&%!&4!&!*.425%!#W!%Q.!L*#1#4.6!V*6,$&$'.!8Q,'Q!
8#256!*.X2,*.!&!_?7?T!W..!#$!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&$6!*.24&;5.!'&**3#2%!
;&<4/!&11*#I,9&%.53!>Tf!#W!%Q.!-#529.!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!'2**.$%53!
24.6!,$!%Q.!J%263!)*.&!=AE/?E?/E?A!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!1.*!3.&*@!8#256!
;.!*.15&'.6!;3!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!=&11*#I,9&%.53!CTf@!&$6!*.24&;5.!
'&**3#2%!;&<4!=&11*#I,9&%.53!A?f@/!&4!4Q#8$!,$!R&;5.!GDG7!K%!,4!W2*%Q.*!&4429.6!
%Q&%!Tf!#W!%Q.!.I,4%,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!24.6!,$!%Q.!J%263!)*.&!8#256!
*.9&,$!,$!24./!&4!%Q.!L*#1#4.6!V*6,$&$'.!6#.4!$#%!&1153!%#!4#9.!*.%&,5.*4!8Q#!
6,4%*,;2%.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!=.7<7/!*.4%&2*&$%4!&$6!#%Q.*!$#$D<*#'.*3!
*.5&%.6!*.%&,5.*4!42'Q!&4!'5#%Q,$<!#*!Q&*68&*.!4%#*.4@7!RQ24/!W#*!%Q,4!&$&534,4/!,%!,4!
&4429.6!%Q&%!F/BTA/TAT!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!8#256!'#$%,$2.!%#!;.!24.6!
&$$2&553!8,%Q,$!%Q.!J%263!)*.&!&W%.*!,915.9.$%&%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.7!K%!
,4!&54#!&4429.6!%Q&%!&11*#I,9&%.53!GS/?>T/>TE!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!
8#256!*.15&'.!&11*#I,9&%.53!CTf!#W!%Q.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!'2**.$%53!
24.6!,$!%Q.!J%263!)*.&7!RQ,4!F(F!*.15&'.9.$%!*&%,#!,4!'#$4,6.*.6!'#$4.*-&%,-./!
;.'&24.!%Q.!-#529.!#W!&!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!=G?7SB!5,%.*4@!,4!<.$.*&553!
.X2&5!%#!&11*#I,9&%.53!FT?f!#W!%Q.!-#529.!#W!&!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!=FS!
5,%.*4@/!42'Q!%Q&%!W.8.*!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!8#256!25%,9&%.53!;.!$..6.6!
%#!'&**3!%Q.!4&9.!$29;.*!#W!,%.947!
'
'
'
'
'
'
'
'
'
'

22. 6+N%&'@V@''8c")0"#$'+#3'Q,.<.)&3'1+$'()&'
J%263!
)*.&!
L#125&%,#$p! R#%&5!J,$<5.!
U4.!L5&4%,'!
"&**3#2%!
N&<4!U4.!
)$$2&553pp!
Q,.<.)&3'
Q%+)0"4)'
1+$)'_^d'
=&:+"#`'
Q,.<.)&3'
Q+<&,'1+$)'
_b^d'
!7"04Y'0.'
Q+<&,`'
Q,.<.)&3'
=&/)+N%&'
1+$)'
_CAd'
!7"04Y'0.'
=&/)+N%&`'
6.0+%'1+$'
()&'M50&,'
2,3"#+#4&'
+.65&$64! C>/BFA! AE/?E?/E?A! F/BTA/TAT! GS/?>T/>TE! GFA/BTE! GC/FCA/AS>!
J%263!
)*.&!
R#%&5!
C>/BFA! AE/?E?/E?A! BWE^CW^C^' @FWAD^WD^G' @BCWE^G' @bWBbCWCFD'
=
3%0#'G02.2U#&'2,'0-#'120)'+/'VG,02,E0+,'C#%8-'W2,%.'HJ3I'D1V'X';<=====<O>I'Y%,G%")';<=>M'
'
;'
3%0#4'G02.2U#&'2,'0-#'120)'+/'D%,0%'K+,28%'A#RG4'D0G&)I'K%"8-';<=<M''D##'?$$#,&2R'1'/+"'(%E'
"#$.%8#:#,0'8%.8G.%02+,4'/+"'#%8-'2,&2@2&G%.'820)'
'
6.0+%'Q,.<.)&3'*+,,-./0'N+$)'_<%+)0"4W'<+<&,W'
+#3',&/)+N%&`'
@bWBbCWCFD'
f!+.62'%,#$!,$!'&**3#2%! G>f!
R#%&5!*.62'%,#$!,$!'&**3#2%!;&<4! F?/>?E/ATS!
'
K$!#*6.*!%#!.4%,9&%.!%Q.!$29;.*!#W!*.24&;5.!'&**3#2%!;&<4!%Q&%!8#256!*.15&'.!
FF/FGF/GFF!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!=A?f!#W!%Q.!.I,4%,$<!$29;.*!#W!4,$<5.!
24.!15&4%,'!'&**3#2%!;&<4!24.6!&$$2&553!,$!%Q.!J%263!)*.&@/!,%!,4!&4429.6!%Q&%!&!
*.24&;5.!'&**3#2%!;&<!8#256!;.!24.6!;3!&!'24%#9.*!#$'.!1.*!8..O!W#*!#$.!3.&*!=TG!
%,9.4@7!)''#*6,$<!%#!%Q.!^&*'Q!G?F?!^&4%.*!H$-,*#$9.$%&5!)44.449.$%!n^H)o!#$!
J,$<5.D24.!&$6!+.24&;5.!N&<4!=Z*..$!",%,.4!"&5,W#*$,&/!^&*'Q!G?F?@/!&!*.24&;5.!
'&**3#2%!;&<!9&3!;.!24.6!F??!%,9.4!#*!9#*.j!%Q.*.W#*.!%Q.!.4%,9&%.!#W!TG!24.4!1.*!
3.&*!W#*!*.24&;5.!'&**3#2%!;&<4!,4!'#$4.*-&%,-.7!N&4.6!#$!%Q.!.4%,9&%.!#W!TG!24.4/!
FF/FGF/GFF!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%Q&%!8#256!;.!*.9#-.6!&4!&!*.425%!#W!%Q.!
L*#1#4.6!V*6,$&$'.!8#256!;.!*.15&'.6!;3!GFA/BTE!*.24&;5.!'&**3#2%!;&<47!RQ,4!
&9#2$%4!%#!&$!.4%,9&%.6!%Q*..!*.24&;5.!'&**3#2%!;&<4!1.*!1.*4#$!1.*!3.&*!;&4.6!#$!
&!J%263!)*.&!1#125&%,#$!#W!C>/BFA7!RQ,4!&$&534,4!&4429.4!%Q&%!&4!&!*.425%!#W!%Q.!
L*#1#4.6!V*6,$&$'.!%Q.!&11*#I,9&%.53!AE!9,55,#$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!
'2**.$%53!24.6!,$!%Q.!J%263!)*.&!&$$2&553!8#256!;.!*.62'.6!%#!&11*#I,9&%.53!GC!
9,55,#$!%#%&5!'&**3#2%!;&<4!=,$'526,$<!15&4%,'/!1&1.*/!&$6!*.24&;5.@7!
@[b'Q=2R8*6'21R8*6;J8!'
RQ.!",%3!#W!+.65&$64e!#;M.'%,-.4!W#*!%Q.!L*#1#4.6!V*6,$&$'.!,$'526.(!

23. g!!+.62',$<!%Q.!.$-,*#$9.$%&5!,91&'%4!*.5&%.6!%#!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!
42'Q!&4!,91&'%4!%#!;,#5#<,'&5!*.4#2*'.4!=,$'526,$<!9&*,$.!.$-,*#$9.$%4@/!8&%.*!
X2&5,%3!&$6!2%,5,%,.4!=4#5,6!8&4%.!.X2,19.$%!&$6!W&',5,%,.4@!!
g!!0.%.**,$<!%Q.!24.!#W!1&1.*!'&**3#2%!;&<4!;3!*.%&,5!'24%#9.*4!!
g!!L*#9#%,$<!&!4Q,W%!%#8&*6!%Q.!24.!#W!*.24&;5.!'&**3#2%!;&<4!;3!*.%&,5!'24%#9.*4!!
g!!+.62',$<!%Q.!&9#2$%!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!,$!5&$6W,55!-#529.4!!
g!!+.62',$<!5,%%.*!&$6!%Q.!&44#',&%.6!&6-.*4.!,91&'%4!%#!4%#*98&%.*!434%.94/!
&.4%Q.%,'4!!&$6!9&*,$.!&$6!%.**.4%*,&5!.$-,*#$9.$%4!!
@[G'=8X(;=8U'MQQ=2JM]!'+#3'Q8=I;6!'
a#*!%Q.!J&$!N.*$&*6,$#!"#2$%3!&4%.!^&$&<.9.$%/!W2$'%,#$,$<!&4!&!'#D5.&6,$<!
&<.$'3!W#*!1*.1&*&%,#$!#W!%Q.!HK+/!%Q.!W#55#8,$<!&'%,#$4!8#256!;.!*.X2,*.6(!
g!!"#$4,6.*!8Q.%Q.*!%Q.!a,$&5!HK+!8&4!'#915.%.6!,$!'#915,&$'.!8,%Q!"HY)/!&$6!!
g!!KW!4#/!&2%Q#*,b.!&$6!6,*.'%!%Q.!HI.'2%,-.!0,*.'%#*!%#!6,4%*,;2%.!'#1,.4!#W!%Q.!a,$&5!
HK+!!%#!%Q.!",%3!#W!+.65&$64!W#*!%Q.,*!M2*,46,'%,#$e4!'#$4,6.*&%,#$!&$6!24./!&%!%Q.,*!
6,4'*.%,#$/!,$!&6#1%,#$!#W!&!J,$<5.!U4.!"&**3#2%!N&<!+.62'%,#$!V*6,$&$'.7!!RQ.!",%3!
#W!+.65&$64!8#256!W2$'%,#$!&4!%Q.!5.&6!&<.$'3!W#*!%Q.!'.*%,W,'&%,#$!#W!%Q.!a,$&5!HK+7!!
K$!&66,%,#$/!%Q.!",%3!#W!+.65&$64!8#256!'#$4,6.*!8Q.%Q.*!%#!&6#1%!%Q.!L*#1#4.6!
V*6,$&$'.7!RQ.!&6#1%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.!8#256!*.X2,*.!'.*%,W,'&%,#$!#W!
%Q.!a,$&5!HK+!=,$!&''#*6&$'.!8,%Q!"HY)!Z2,6.5,$.4!J.'%,#$!FT?>?@!&$6!&$!
&9.$69.$%!%#!%Q.!M2*,46,'%,#$e4!92$,',1&5!'#6.!8,%Q!6,4'*.%,#$&*3!&11*#-&5!;3!%Q.!
M2*,46,'%,#$e4!',%3!#*!%#8$!'#2$',57!RQ.!W#55#8,$<!&11*#-&54!8#256!;.!*.X2,*.6!W#*!
%Q.!",%3!#W!+.65&$64!8Q.$!'#$4,6.*,$<!&6#1%,#$(!
g!!".*%,W,'&%,#$!#W!%Q.!a,$&5!HK+!=",%3lR#8$!"#2$',5@!!
g!!)6#1%,#$!#W!&$!V*6,$&$'.!&9.$6,$<!%Q.!V*6,$&$'.!"#6.!=",%3lR#8$!"#2$',5@!
!J2;4.X2.$%!%#!&6#1%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'./!.&'Q!',%3!#*!%#8$!8#256!$..6!
%#!W,5.!&!]#%,'.!#W!0.%.*9,$&%,#$!=]V0@!1.*!"HY)!Z2,6.5,$.4!=J.'%,#$!FT?>S@7!!
'
'
'
'
'

24. C[A'8SJ;=2SI8S6M]'!866;SK'
RQ,4!4.'%,#$!1*#-,6.4!&!<.$.*&5!#-.*-,.8!#W!%Q.!.$-,*#$9.$%&5!4.%%,$<!W#*!%Q.!
L*#1#4.6!V*6,$&$'.7!^#*.!6.%&,5.6!6.4'*,1%,#$4!#W!%Q.!.$-,*#$9.$%&5!4.%%,$<!
<.*9&$.!%#!.&'Q!.$-,*#$9.$%&5!,442.!&*.&!'&$!;.!W#2$6!,$!J.'%,#$!S7?/!
H$-,*#$9.$%&5!K91&'%!)$&534,47!
C[B'=8K;2SM]'!866;SK'
RQ.!1*#1#4.6!J,$<5.!U4.!"&**3#2%!N&<!+.62'%,#$!V*6,$&$'.!=L*#1#4.6!V*6,$&$'.@!
8#256!*.<25&%.!%Q.!24.!#W!4,$<5.!24.!15&4%,'!&$6!*.'3'5&;5.!'&**3#2%!;&<4!8,%Q,$!%Q.!
J%263!)*.&7!RQ.!J%263!)*.&!,$'526.4!%Q.!W#55#8,$<!M2*,46,'%,#$4!8,%Q,$!J&$!
N.*$&*6,$#!"#2$%3(!
D +.65&$64!
",%3!#W!+.65&$64D!Y2&5,%3!#W!P,W.!
AT!"&M#$!J%*..%/!J2,%.!GGG!!
+.65&$64/!")!>GAEA!!!!
=>?>@!E>BDECTT!
"#$%&'%(!a*.6!"&*6.$&4/!Y2&5,%3!#W!P,W.!0,*.'%#*!
J&$!N.*$&*6,$#!"#2$%3!,4!5#'&%.6!,$!4#2%Q.&4%!"&5,W#*$,&7!!K%!,4!%Q.!5&*<.4%!'#2$%3!,$!
%Q.!U$,%.6!J%&%.4!;3!&*.&!&$6!Q&4!&!1#125&%,#$!#W!G/?EC/GES!="&5,W#*$,&!0.1&*%9.$%!
#W!a,$&$'./!G?FA@7!J&$!N.*$&*6,$#!"#2$%3!#''21,.4!&11*#I,9&%.53!G?/F?T!4X2&*.!
9,5.4/!8,%Q!%Q,$53!1#125&%.6!6.4.*%4!&$6!9#2$%&,$4!&$6!%Q.!;25O!#W!%Q.!'#2$%3!
1#125&%,#$!*.4,6,$<!4#2%Q!#W!%Q.!J&$!N.*$&*6,$#!^#2$%&,$4!&$6!,$!%Q.!J&$!
N.*$&*6,$#!h&55.37!RQ.!",%3!#W!+.65&$64!,4!'#2$%3!,$'#*1#*&%.6!,$!J&$!N.*$&*6,$#!
"#2$%3/!#''213,$<!AC7S!4X2&*.!9,5.4/!8,%Q!&!1#125&%,#$!#W7!
RQ.!J&$!N.*$&*6,$#!"#2$%3!&$6!",%3!#W!+.65&$64!Q&-.!^.6,%.**&$.&$!'5,9&%.4!
'Q&*&'%.*,b.6!;3!8&*9/!5#$</!6*3!4299.*4/!&$6!4Q#*%/!*.5&%,-.53!6&91!8,$%.*47!
^&I,929!41*,$<!%.91.*&%2*.4!&-.*&<.!,$!%Q.!E?4!=6.<*..4!a&Q*.$Q.,%@!&$6!,$!%Q.!
>?4!,$!%Q.!4299.*7!02*,$<!8,$%.*/!&-.*&<.!9,$,929!%.91.*&%2*.4!*&$<.!;.%8..$!
%Q.!A?4!&$6!S?47!L*.',1,%&%,#$!<.$.*&553!#''2*4!;.%8..$!k&$2&*3!&$6!^&*'Q/!8,%Q!
&;#2%!A?!6&34!#W!1*.',1,%&%,#$/!&$6!&$!&-.*&<.!*&,$W&55!#W!FT!,$'Q.47!J&$!N.*$&*6,$#!
"#2$%3!,4!5#'&%.6!8,%Q,$!%Q.!J#2%Q!"#&4%!),*!N&4,$/!8Q,'Q!&$6!,4!,$!%Q.!M2*,46,'%,#$!#W!
%Q.!J#2%Q!"#&4%!),*!Y2&5,%3!^&$&<.9.$%!0,4%*,'%!=J")Y^0@7!J")Y^0!$#8!&54#!
9&$&<.6!1#*%,#$4!#W!%8#!#%Q.*!&,*!;&4,$4D!%Q.!J&5%#$!J.&!),*!N&4,$!&$6!%Q.!^#M&-.!
0.4.*%!),*!N&4,$7!
RQ.!"#2$%3!'#$%&,$4!FE!9&M#*!8&%.*4Q.64(![&-&42D^#Q&-.!P&O.4/!L,2%.!&4Q/!
J&'*&9.$%#!&4Q/!K91.*,&5!+.4.*-#,*/!N,55!,55,&94/!K-&$1&QDL&Q*291!h&55.34/!J&$!
Z&;*,.5/!J&$%&!)$&/!U11.*!)9&*<#4&/!0.&%Q!h&55.3DP#8.*!)9&*<#4&/!L&$&9,$%!
h&55.3/!K$6,&$!.554DJ.&*5.4!h&55.34/!)$%.5#1.Da*.9#$%!h&55.34/!"#3#%.D"266.;&'O!
P&O.4/!^#M&-./!J#2%Q.*$!^#M&-./!J&5%#$!J.&7!&%.*!421153!,$!J&$!N.*$&*6,$#!"#2$%3!

25. ,4!1*#-,6.6!;3!<*#2$68&%.*/!42*W&'.!8&%.*/!*.'3'5.6!8&%.*/!&$6!,91#*%.6!8&%.*7!
RQ.!%*&$41#*%&%,#$!434%.9!,$!J&$!N.*$&*6,$#!"#2$%3!'#$4,4%4!#W!&!4.*,.4!#W!
Q,<Q8&34/!9&M#*!*#&64/!;,O.8&34/!;24!434%.94/!*&,5!5,$.4/!&$6!&,*1#*%47!R*&$4,%!
4.*-,'.!434%.94!8,%Q,$!%Q.!"#2$%3!,$'526.!%Q.!N&*4%#8!)*.&!R*&$4,%/!^#*#$<#!N&4,$!
R*&$4,%/!^#2$%&,$!)*.&!+.<,#$&5!R*&$4,%/!]..65.4!)*.&!R*&$4,%/!V9$,%*&$4/!h,'%#*!
h&55.3!R*&$4,%!)2%Q#*,%3/!a##%Q,55!R*&$4,%/!V"R)/!+R)7!!J&$!N.*$&*6,$#!,4!&54#!4.*-.6!
;3!Z*.3Q#2$6!;24.4!&$6!)9%*&O!%*&,$4D!^.%*#5,$O!'#992%.*!%*&,$4!'#$$.'%!%Q.!
2*;&$,b.6!1#*%,#$!#W!%Q.!'#2$%3!8,%Q!P#4!)$<.5.4/!V*&$<./!&$6!+,-.*4,6.!"#2$%,.47!
C[@'*(I(]M6;J8'Q=2R8*6!'!866;SK'
"HY)!6.W,$.4!'2925&%,-.!,91&'%4!&4!%8#!#*!9#*.!,$6,-,62&5!&'%,#$4!%Q&%/!8Q.$!
'#$4,6.*.6!%#<.%Q.*/!&*.!'#$4,6.*&;5.!#*!8,55!'#91#2$6!#%Q.*!.$-,*#$9.$%&5!
,91&'%47!"2925&%,-.!,91&'%4!&*.!%Q.!'Q&$<.4!,$!%Q.!.$-,*#$9.$%!%Q&%!*.425%!W*#9!
%Q.!,$'*.9.$%&5!,91&'%!#W!6.-.5#19.$%!#W!%Q.!1*#1#4.6!1*#M.'%!&$6!#%Q.*!$.&*;3!
1*#M.'%47!a#*!.I&915./!%*&WW,'!,91&'%4!#W!%8#!$.&*;3!1*#M.'%4!9&3!;.!,$4,<$,W,'&$%!
8Q.$!&$&53b.6!4.1&*&%.53/!;2%!'#256!Q&-.!&!4,<$,W,'&$%!,91&'%!8Q.$!&$&53b.6!
%#<.%Q.*7!"2925&%,-.!,91&'%!&$&534,4!&55#84!%Q.!HK+!%#!1*#-,6.!&!*.&4#$&;5.!W#*.'&4%!
#W!W2%2*.!.$-,*#$9.$%&5!'#$6,%,#$4!&$6!'&$!9#*.!&''2*&%.53!<&2<.!%Q.!.WW.'%4!#W!&!
4.*,.4!#W!1*#M.'%47!
)5%Q#2<Q!"HY)!&$&534,4!%31,'&553!5,4%4!6.-.5#19.$%!1*#M.'%4!,$!%Q.!-,',$,%3!#W!&!
1*#M.'%!4,%./!%Q,4!6#'29.$%!&$&53b.4!%Q.!.$-,*#$9.$%&5!,91&'%4!&44#',&%.6!8,%Q!&!
1*#1#4.6!#*6,$&$'.!&$6!6#.4!$#%!,$'526.!6.-.5#19.$%!#*!'#$4%*2'%,#$!&'%,-,%37!)4!
42'Q/!%Q.!'2925&%,-.!4,<$,W,'&$'.!#W!%Q.!1*#1#4.6!J,$<5.!U4.!"&**3#2%!N&<!+.62'%,#$!
V*6,$&$'.!Q&4!;..$!&$&53b.6!8,%Q,$!%Q.!'#$%.I%!#W!#%Q.*!'&**3#2%!;&<!#*6,$&$'.4!
%Q&%!&*.!&11*#-.6!#*!1.$6,$<!%Q*#2<Q#2%!"&5,W#*$,&7!RQ.*.!&*.!'2**.$%53!
&11*#I,9&%.53!SF!=&$6!9#*.!;.,$<!&66.6!4##$@!&6#1%.6/!1*#1#4.6!#*!1.$6,$<!
'&**3#2%!;&<!#*6,$&$'.4!=,$'526,$<!%Q.!1*#1#4.6!J,$<5.!U4.!"&**3#2%!N&<!+.62'%,#$!
V*6,$&$'.@!5#'&%.6!%Q*#2<Q#2%!"&5,W#*$,&7!RQ.4.!#*6,$&$'.4!&*.!'#$4,6.*.6!,$!%Q.!
'2925&%,-.!&$&534.4!,$!J.'%,#$!S7?/!H$-,*#$9.$%&5!K91&'%!)$&534,47!
'
'
'
'
'
'

26. F[A'8SJ;=2SI8S6M]';IQM*6'MSM]P!;!'
RQ,4!4.'%,#$!6,4'244.4!%Q.!1#44,;5.!.$-,*#$9.$%&5!.WW.'%4!#W!%Q.!L*#1#4.6!V*6,$&$'.!
W#*!%Q.!41.',W,'!,442.!&*.&4!%Q&%!8.*.!,6.$%,W,.6!%Q*#2<Q!%Q.!K$,%,&5!J%263!&$6!]VL!
1*#'.44!=4..!)11.$6,I!)@!&4!Q&-,$<!%Q.!1#%.$%,&5!%#!.I1.*,.$'.!4,<$,W,'&$%!,91&'%47!
cJ,<$,W,'&$%!.WW.'%d!,4!6.W,$.6!;3!%Q.!"HY)!Z2,6.5,$.4!iFTABG!&4!c&!42;4%&$%,&5/!#*!
1#%.$%,&553!42;4%&$%,&5/!&6-.*4.!'Q&$<.!,$!&$3!#W!%Q.!1Q34,'&5!'#$6,%,#$4!8,%Q,$!%Q.!
&*.&!&WW.'%.6!;3!%Q.!1*#M.'%!,$'526,$<!5&$6/!&,*/!8&%.*/!9,$.*&54/!W5#*&/!W&2$&/!&9;,.$%!
$#,4./!&$6!#;M.'%4!#W!Q,4%#*,'!#*!&.4%Q.%,'!4,<$,W,'&$'.7!)$!.'#$#9,'!#*!4#',&5!'Q&$<.!
;3!,%4.5W!4Q&55!$#%!;.!'#$4,6.*.6!&!4,<$,W,'&$%!.WW.'%!#$!%Q.!.$-,*#$9.$%/!;2%!9&3!;.!
'#$4,6.*.6!,$!6.%.*9,$,$<!8Q.%Q.*!%Q.!1Q34,'&5!'Q&$<.!,4!4,<$,W,'&$%7d!
RQ.!&44.449.$%!#W!.&'Q!,442.!&*.&!;.<,$4!8,%Q!&!6,4'244,#$!#W!%Q.!4.%%,$<!*.5.-&$%!%#!
%Q&%!,442.!&*.&7!a#55#8,$<!%Q.!4.%%,$<!,4!&!6,4'244,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.e4!
,91&'%4!*.5&%,-.!%#!%Q.!,442.!&*.&7!,%Q,$!%Q.!,91&'%!&$&534,4/!%Q.!W,*4%!42;4.'%,#$!
,6.$%,W,.4!%Q.!9.%Q#6#5#<,.4!24.6!&$6!%Q.!c4,<$,W,'&$'.!%Q*.4Q#564/d!8Q,'Q!&*.!%Q#4.!
'*,%.*,&!&6#1%.6!;3!%Q.!",%3/!R#8$/!"#2$%3/!#%Q.*!&<.$',.4/!2$,-.*4&553!*.'#<$,b.6/!
#*!6.-.5#1.6!41.',W,'&553!W#*!%Q,4!&$&534,4!%#!6.%.*9,$.!8Q.%Q.*!1#%.$%,&5!,91&'%4!
&*.!4,<$,W,'&$%7!RQ.!$.I%!42;4.'%,#$!6.4'*,;.4!.&'Q!,91&'%!#W!%Q.!L*#1#4.6!
V*6,$&$'./!9,%,<&%,#$!9.&42*.4!W#*!4,<$,W,'&$%!,91&'%4/!&$6!%Q.!5.-.5!#W!4,<$,W,'&$'.!
&W%.*!9,%,<&%,#$7!H&'Q!,91&'%!2$6.*!'#$4,6.*&%,#$!W#*!&$!,442.!&*.&!,4!4.1&*&%.53!
5,4%.6!,$!;#56!%.I%/!8,%Q!%Q.!6,4'244,#$!#W!%Q.!,91&'%!&$6!,%4!4,<$,W,'&$'.!W#55#8,$<7!
H&'Q!;#56.6!,91&'%!5,4%,$<!&54#!'#$%&,$4!&!4%&%.9.$%!#W!%Q.!4,<$,W,'&$'.!
6.%.*9,$&%,#$!W#*!%Q.!.$-,*#$9.$%&5!,91&'%!&4!W#55#84(!
'()*(%(+$*&!$*,!-*$./(,$0123'?,'2:$%80'0-%0'8%,,+0'(#'"#&G8#&'0+'(#.+7'0-#'
0-"#4-+.&'.#@#.'E2@#,'"#%4+,%(.)'%@%2.%(.#'%,&'/#%42(.#':202E%02+,':#%4G"#4M'
DG8-'%,'2:$%80'"#TG2"#4'%'D0%0#:#,0'+/'Z@#""2&2,E'1+,42&#"%02+,4'0+'(#'244G#&'
2/'0-#'$"+B#80'24'%$$"+@#&M'
'()*(%(+$*&!04&!5(&()$0123'?,'2:$%80'0-%0'8%,'(#'"#&G8#&'0+'(#.+7'0-#'
0-"#4-+.&'.#@#.'E2@#,'"#%4+,%(.)'%@%2.%(.#'%,&'/#%42(.#':202E%02+,':#%4G"#4M'
DG8-'%,'2:$%80'"#TG2"#4'/2,&2,E4'0+'(#':%&#M'
6/&!'()*(%(+$*&!78299!&:$*!'()*(%(+$*&;3'?,'2:$%80'0-%0':%)'(#'%&@#"4#I'(G0'
&+#4',+0'#R8##&'0-#'0-"#4-+.&'.#@#.4'%,&'&+#4',+0'"#TG2"#':202E%02+,':#%4G"#4M'
V+7#@#"I':202E%02+,':#%4G"#4'0-%0'8+G.&'/G"0-#"'.#44#,'0-#'#,@2"+,:#,0%.'
#//#80':%)'(#'4GEE#40#&'2/'"#%&2.)'%@%2.%(.#'%,&'#%42.)'%8-2#@%(.#M'
<2*2%(+($13'?'"#&G802+,'2,'#R2402,E'#,@2"+,:#,0%.'$"+(.#:4'+"'-%U%"&4M'
a#55#8,$<!.&'Q!.$-,*#$9.$%&5!,91&'%!6,4'244,#$!,4!&!5,4%,$<!#W!*.'#99.$6.6!
9,%,<&%,#$!9.&42*.4!=,W!*.X2,*.6@!&$6!%Q.!*.4,62&5!.WW.'%4!#*!5.-.5!#W!4,<$,W,'&$'.!
*.9&,$,$<!&W%.*!%Q.!,915.9.$%&%,#$!#W!%Q.!9.&42*.47!K$!%Q#4.!'&4.4!8Q.*.!%Q.!
9,%,<&%,#$!9.&42*.!W#*!&$!,91&'%!'#256!Q&-.!&!4,<$,W,'&$%!.$-,*#$9.$%&5!,91&'%!,$!
&$#%Q.*!,442.!&*.&/!%Q,4!,91&'%!,4!6,4'244.6!&4!&!*.4,62&5!.WW.'%7!

27. RQ.!,91&'%!&$&534,4!'#$'526.4!8,%Q!&!6,4'244,#$!#W!'2925&%,-.!.WW.'%4/!8Q,'Q!
.-&52&%.4!%Q.!,91&'%4!&44#',&%.6!8,%Q!%Q.!L*#1#4.6!V*6,$&$'.!,$!'#$M2$'%,#$!8,%Q!
#%Q.*!&6#1%.6!&$6!1.$6,$<!;&<!#*6,$&$'.47!
'
F[B'M;='X(M];6P'
RQ,4!4.'%,#$!&$&53b.4!%Q.!L*#1#4.6!V*6,$&$'.e4!5#$<D%.*9!,91&'%4!%#!5#'&5!&$6!
*.<,#$&5!&,*!X2&5,%37!RQ.!&$&534,4!W#'24.4!#$!&,*!X2&5,%3!,91&'%4!&44#',&%.6!8,%Q!
'&**3#2%!;&<!9&$2W&'%2*,$<!W&',5,%,.4!&$6!%*2'O!%*,14!&44#',&%.6!8,%Q!'&**3#2%!;&<!
6,4%*,;2%,#$7!K91&'%4!*.5&%.6!%#!'5,9&%.!'Q&$<.!&*.!&66*.44.6!,$!J.'%,#$!S7A/!
Z*..$Q#24.!Z&4!H9,44,#$47!
F[B[B'!&00"#$'
+['*Y+,+40&,")0"4)'.5'M",'Q.%%/0+#0)[!!RQ.!J%263!)*.&!,4!5#'&%.6!,$!J&$!N.*$&*6,$#!
"#2$%37!!J#2%Q!"#&4%!),*!Y2&5,%3!^&$&<.9.$%!0,4%*,'%!=J")Y^0@!,4!%Q.!*.<,#$&5!
<#-.*$9.$%!&<.$'3!%Q&%!9#$,%#*4!&$6!*.<25&%.4!&,*!1#552%,#$!8,%Q,$!J&$!N.*$&*6,$#!
"#2$%37!L#552%&$%4!%Q&%!&*.!9#$,%#*.6!8,%Q,$!%Q.!"#2$%3!&$6!'#91&*.6!%#!J%&%.!&$6!
a.6.*&5!J%&$6&*64!,$'526.!#b#$./!'&*;#$!9#$#I,6./!$,%*#<.$!6,#I,6.!&$6!4241.$6.6!
1&*%,'25&%.47!RQ.!<.$.*&5!'Q&*&'%.*,4%,'4!#W!%Q.4.!1#552%&$%4!&*.!6.4'*,;.6!;.5#87!!
Vb#$.!=VA@!,4!1*#62'.6!;3!&!1Q#%#'Q.9,'&5!*.&'%,#$!=%*,<<.*.6!;3!42$5,<Q%@!
;.%8..$!$,%*#<.$!#I,6.4!=]VI@!&$6!*.&'%,-.!#*<&$,'!<&4.4!=+VZ@7!],%*#<.$!#I,6.4!
&*.!W#*9.6!62*,$<!%Q.!'#9;24%,#$!#W!W2.54/!8Q,5.!*.&'%,-.!#*<&$,'!<&4.4!&*.!W#*9.6!
62*,$<!'#9;24%,#$!&$6!.-&1#*&%,#$!#W!#*<&$,'!4#5-.$%47!N.'&24.!#b#$.!*.X2,*.4!
42$5,<Q%!%#!W#*9/!,%!#''2*4!,$!'#$'.$%*&%,#$4!'#$4,6.*.6!4.*,#24!1*,9&*,53!;.%8..$!
%Q.!9#$%Q4!#W!)1*,5!&$6!V'%#;.*7!Vb#$.!,4!&!12$<.$%/!'#5#*5.44/!%#I,'!<&4!8,%Q!6,*.'%!
Q.&5%Q!.WW.'%4!#$!Q29&$4/!,$'526,$<!*.41,*&%#*3!&$6!.3.!,**,%&%,#$!&$6!1#44,;5.!
'Q&$<.4!,$!52$<!W2$'%,#$47!Z*#214!9#4%!4.$4,%,-.!%#!#b#$.!,$'526.!'Q,56*.$/!%Q.!
.56.*53/!1.*4#$4!8,%Q!*.41,*&%#*3!6,4#*6.*4/!&$6!1.#15.!8Q#!.I.*',4.!4%*.$2#2453!
#2%6##*47!
"&*;#$!^#$#I,6.7!"&*;#$!9#$#I,6.!="V@!,4!&!'#5#*5.44/!#6#*5.44/!1#,4#$#24!<&4!%Q&%!
,4!W#2$6!,$!Q,<Q!'#$'.$%*&%,#$4!#$53!$.&*!%Q.!4#2*'.7!RQ.!9&M#*!4#2*'.!#W!"V!,4!
&2%#9#;,5.!%*&WW,'7!H5.-&%.6!'#$'.$%*&%,#$4/!%Q.*.W#*./!&*.!242&553!#$53!W#2$6!$.&*!
&*.&4!8,%Q!Q,<Q!%*&WW,'!-#529.4!&$6!.$<,$.!,65,$<7!"Ve4!Q.&5%Q!.WW.'%4!&*.!*.5&%.6!%#!
,%4!&WW,$,%3!W#*!Q.9#<5#;,$!,$!%Q.!;5##67!)%!Q,<Q!'#$'.$%*&%,#$4/!"V!*.62'.4!%Q.!
&9#2$%!#W!#I3<.$!,$!%Q.!;5##6/!'&24,$<!Q.&*%!6,WW,'25%,.4!,$!1.#15.!8,%Q!'Q*#$,'!
6,4.&4.4/!*.62'.6!52$<!'&1&',%3!&$6!,91&,*.6!9.$%&5!&;,5,%,.47!
],%*#<.$!0,#I,6.7!],%*#<.$!6,#I,6.!=]VG@!,4!&!;3D1*#62'%!#W!W2.5!'#9;24%,#$/!8,%Q!
%Q.!1*,9&*3!4#2*'.!;.,$<!9#%#*!-.Q,'5.4!&$6!,$624%*,&5!;#,5.*4!&$6!W2*$&'.47!RQ.!
1*,$',1&5!W#*9!#W!$,%*#<.$!#I,6.!1*#62'.6!;3!'#9;24%,#$!,4!$,%*,'!#I,6.!=]V@/!;2%!
]V!*.&'%4!*&1,653!%#!W#*9!]VG/!'*.&%,$<!%Q.!9,I%2*.!#W!]V!&$6!]VG!'#99#$53!
'&55.6!]Vt7!]VG!,4!&$!&'2%.!,**,%&$%7!)!*.5&%,#$4Q,1!;.%8..$!]VG!&$6!'Q*#$,'!
1259#$&*3!W,;*#4,4!9&3!.I,4%/!&$6!&$!,$'*.&4.!,$!;*#$'Q,%,4!,$!3#2$<!'Q,56*.$!&%!
'#$'.$%*&%,#$4!;.5#8!?7A!1&*%4!1.*!9,55,#$!=119@!9&3!#''2*7!]VG!&;4#*;4!;52.!5,<Q%!

28. &$6!'&24.4!&!*.66,4Q!;*#8$!'&4%!%#!%Q.!&%9#41Q.*.!&$6!*.62'.6!-,4,;,5,%37!K%!'&$!
&54#!'#$%*,;2%.!%#!%Q.!W#*9&%,#$!#W!L^F?!&$6!&',6!*&,$7!
!J241.$6.6!L&*%,'25&%.47!L^F?!,4!1&*%,'25&%.!9&%%.*!9.&42*,$<!$#!9#*.!%Q&$!F?!
9,'*#$4!,$!6,&9.%.*/!8Q,5.!L^G7T!,4!W,$.!1&*%,'25&%.!9&%%.*!9.&42*,$<!$#!9#*.!%Q&$!
G7T!9,'*#$4!,$!6,&9.%.*7!J241.$6.6!1&*%,'25&%.4!&*.!9#4%53!624%!1&*%,'5.4/!$,%*&%.4!
&$6!425W&%.47!N#%Q!L^F?!&$6!!L^G7T!&*.!;3D1*#62'%4!#W!W2.5!'#9;24%,#$!&$6!8,$6!
.*#4,#$!#W!4#,5!&$6!2$1&-.6!*#&64/!&$6!&*.!6,*.'%53!.9,%%.6!,$%#!%Q.!&%9#41Q.*.!
%Q*#2<Q!%Q.4.!1*#'.44.47!J241.$6.6!1&*%,'25&%.4!&*.!&54#!'*.&%.6!,$!%Q.!&%9#41Q.*.!
%Q*#2<Q!'Q.9,'&5!*.&'%,#$47!
RQ.!'Q&*&'%.*,4%,'4/!4#2*'.4/!&$6!1#%.$%,&5!Q.&5%Q!.WW.'%4!&44#',&%.6!8,%Q!%Q.!49&55!
1&*%,'25&%.4!=%Q#4.!;.%8..$!G7T!&$6!F?!9,'*#$4!,$!6,&9.%.*@!&$6!W,$.!1&*%,'25&%.4!
=L^G7T@!'&$!;.!-.*3!6,WW.*.$%7!RQ.!49&55!1&*%,'25&%.4!<.$.*&553!'#9.!W*#9!
8,$6;5#8$!624%!&$6!624%!O,'O.6!21!W*#9!9#;,5.!4#2*'.47!RQ.!W,$.!1&*%,'25&%.4!&*.!
<.$.*&553!&44#',&%.6!8,%Q!'#9;24%,#$!1*#'.44.4!&4!8.55!&4!;.,$<!W#*9.6!,$!%Q.!
&%9#41Q.*.!&4!&!4.'#$6&*3!1#552%&$%!%Q*#2<Q!'Q.9,'&5!*.&'%,#$47!a,$.!1&*%,'25&%.!
9&%%.*!,4!9#*.!5,O.53!%#!1.$.%*&%.!6..153!,$%#!%Q.!52$<4!&$6!1#4.4!&!Q.&5%Q!%Q*.&%!%#!
&55!<*#214/!;2%!1&*%,'25&*53!%#!%Q.!.56.*53/!'Q,56*.$/!&$6!%Q#4.!8,%Q!*.41,*&%#*3!
1*#;5.947!^#*.!%Q&$!Q&5W!#W!%Q.!49&55!&$6!W,$.!1&*%,'25&%.!9&%%.*!%Q&%!,4!,$Q&5.6!,$%#!
%Q.!52$<4!*.9&,$4!%Q.*.7!RQ.4.!9&%.*,&54!'&$!6&9&<.!Q.&5%Q!;3!,$%.*W.*,$<!8,%Q!%Q.!
;#63e4!9.'Q&$,494!W#*!'5.&*,$<!%Q.!*.41,*&%#*3!%*&'%!#*!;3!&'%,$<!&4!'&**,.*4!#W!&$!
&;4#*;.6!%#I,'!42;4%&$'.7!
N['M",'X/+%"0-'!0+#3+,3)7!a.6.*&5!&$6!4%&%.!4%&$6&*64!Q&-.!;..$!.4%&;5,4Q.6!W#*!4,I!
'*,%.*,&!1#552%&$%4(!#b#$./!"V/!]VG/!425W2*!6,#I,6.!=JVG@/!L^F?/&$6!L^G7T/!&$6!5.&6!
=L;@7!R&;5.!S7FDF!5,4%4!%Q.!'2**.$%!W.6.*&5!&$6!4%&%.!4%&$6&*64!W#*!'*,%.*,&!1#552%&$%47!
"&5,W#*$,&!Q&4!&54#!4.%!4%&$6&*64!W#*!425W&%.4/!Q36*#<.$!425W,6./!-,$35!'Q5#*,6./!&$6!
-,4,;,5,%3D*.62',$<!1&*%,'5.47!
6+N%&'F[BVB'*/,,&#0'T&3&,+%'+#3'!0+0&'M:N"&#0'M",'X/+%"0-'!0+#3+,3)'
L#552%&$%! a.6.*&5!J%&$6&*6! "&5,W#*$,&!J%&$6&*6!
!
Vb#$.! ?7?ET!119!=BDQ*!&-<@! ?7?>!119!=FDQ*!&-<@!
?7?E!119!=BDQ*!&-<@!
"&*;#$!^#$#I,6.! >7?!119!=BDQ*!&-<@!
AT7?!119!=FDQ*!&-<@!
!
>7?!119!=BDQ*!&-<@!
G?7?!119!=FDQ*!&-<@!
!
],%*#<.$!0,#I,6.! ?7?TA!119!=&$$2&5!&-<@!
F??!11;!=FDQ*!&-<@!
!
?7?A?!119!=&$$2&5!&-<@!
?7FB!119!=FDQ*!&-<@!
!
J25W2*!0,#I,6.! ET!11;!=FDQ*!&-<@! ?7?S!119!=GSDQ*!&-<@!
?7GT!119!=FDQ*!&-<@!
!

29. $$:['$%"04'$#"':2..2+,'$$(['$%"04'$#"'(2..2+,':E:>'[':28"+E"%:4'$#"'8G(28':#0#"'
D+G"8#6'1%.2/+",2%'?2"'3#4+G"8#4'C+%"&'*YG,#';<=;5I'777M%"(M8%ME+@"#4#%"8-%%T4%%T4;M$&/]'
RQ.!J")Y^0!,4!*.X2,*.6!%#!9#$,%#*!&,*!1#552%&$%!5.-.54!%#!.$42*.!%Q&%!&,*!X2&5,%3!
4%&$6&*64!&*.!9.%!&$6/!,W!%Q.3!&*.!$#%!9.%/!%#!6.-.5#1!4%*&%.<,.4!%#!9..%!%Q.!
4%&$6&*647!0.1.$6,$<!#$!8Q.%Q.*!%Q.!4%&$6&*64!&*.!9.%!#*!.I'..6.6/!%Q.!5#'&5!&,*!
;&4,$!,4!'5&44,W,.6!&4!;.,$<!,$!c&%%&,$9.$%d!#*!c$#$D&%%&,$9.$%7d!
4['*/,,&#0'M",'X/+%"0-[!),*!X2&5,%3!,4!9#$,%#*.6!1*,9&*,53!&%!%Q.!J&$!+&W&.5!
^#$,%#*,$<!J%&%,#$/!5#'&%.6!&%!TAS!S%Q!J%*..%!,$!%Q.!",%3!#W!J&$!+&W&.57!)4!&$!.I&915.!
#W!&,*!X2&5,%3!'#$6,%,#$4!,$!%Q.!*.<,#$/!%Q.!W#55#8,$<!6&%&!8&4!%&O.$!W*#9!%Q.!J&$!
+&W&.5!^#$,%#*,$<!J%&%,#$!,$!J&$!+&W&.57!R&;5.!S7FDG!,$6,'&%.4!%Q.!$29;.*!#W!6&34!
%Q&%!.&'Q!#W!%Q.!4%&%.!&$6!W.6.*&5!&,*!X2&5,%3!4%&$6&*64!Q&4!;..$!.I'..6.6!&%!%Q.!
4%&%,#$7!RQ.*.!8.*.!%8#!.I'..6&$'.4!#W!4%&%.!4%&$6&*64!W#*!L^F?!&$6!W,-.!
.I'..6&$'.4!#W!W.6.*&5!4%&$6&*64!W#*!L^G7T!W*#9!G?F?!%Q*#2<Q!G?FG7!
6+N%&'F[BV@'
M:N"&#0'M",'X/+%"0-'U+0+'
Q.%%/0+#0' @ABA' @ABB' @AB@'
2e.#&W'<<:'V'H.,)0'>./,' A[AEC' A[AD@' A[AGb'
S/:N&,'.5'3+-)'.5'!0+0&'&c4&&3+#4&)'_fA[AD'
<<:`'
A' A' A'
2e.#&W'<<:'g'H.,)0'E'>./,)' A[AGA' A[AGA' 2A[A^E'
S/:N&,'.5'3+-)'.5'!0+0&'&c4&&3+#4&)'_fA[AGA'
<<:`'
A' A' A'
S/:N&,'.5'3+-)'.5'T&3&,+%'&c4&&3+#4&)'
_fA[AG^'<<:`'
A' A' A'
Q+,0"4/%+0&'I+00&,'hBA':"4,.#)W':$Z:C'
H.,)0'@F'>./,)'
^B[C' ^F[B' CG[B'
S/:N&,'.5')+:<%&)'.5'!0+0&'&c4&&3+#4&)'_f^A'
:$Z:C'
`'
B' B' A'
S/:N&,'.5')+:<%&)'.5'T&3&,+%'&c4&&3+#4&)'
_fB^A':$Z:C'
`'
A' A' A'
P.&6! F7T!9<l9A!=A?!6&3!&-<@! F7T!9<l9A!='&5.$6&*!X%*@!
?7FT!9<l9A!=*#55,$<!AD
9#$%Q!&-<@!
!
L&*%,'25&%.!^&%%.*=L^F?@! !FT?!9<l9A! =GSDQ*!&-<@!G?!9<l9A!
=&$$2&5!&-<@!
T?!9<l9A!=GSDQ*!&-<@!
!
L&*%,'25&%.!^&%%.*!=L^G7T@!
!
FG!9<l9A!=&$$2&5!&-<@!
AT!9<l9A!=GSDQ*!&-<@!
FG!9<l9A!=&$$2&5!&-<@!
!

30. Q+,0"4/%+0&'I+00&,'h@[^':"4,.#)W':$Z:C'
H.,)0'@F'>./,)'
Fb[^' F@[@' @b[^'
S/:N&,'.5')+:<%&)'.5'T&3&,+%'&c4&&3+#4&)'
_fC^':$Z:C'
`'
F' B' A'
'
&['M",'X/+%"0-'+#3'*+,,-./0'1+$)[!"&**3#2%!;&<4!'&$!&WW.'%!&,*!X2&5,%3!,$!%8#!8&34(!
%Q*#2<Q!.9,44,#$4!&44#',&%.6!8,%Q!9&$2W&'%2*,$<!1*#'.44.4!&$6!%Q*#2<Q!.9,44,#$4!
&44#',&%.6!8,%Q!%*2'O!%*,14!W#*!%Q.!6.5,-.*3!#W!'&**3#2%!;&<4!%#!*.%&,5.*47!H&'Q!,4!
4299&*,b.6!;.5#87!!
I+#/5+40/,"#$'Q,.4&))[!RQ.!9&$2W&'%2*,$<!1*#'.44!%#!9&O.!'&**3#2%!;&<4!
*.X2,*.4!W2.5!&$6!.$.*<3!'#$4291%,#$/!8Q,'Q!<.$.*&%.4!&,*!1#552%&$%!.9,44,#$47!
RQ.4.!9&3!,$'526.!1&*%,'25&%.!9&%%.*/!$,%*#<.$!#I,6.4/!Q36*#'&*;#$4/!425W2*!#I,6.4/!
'&*;#$!9#$#I,6./!&$6!#6#*#24!425W2*!=Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7!RQ.!5.-.5!
#W!.9,44,#$4!-&*,.4!6.1.$6,$<!#$!%Q.!%31.!&$6!X2&$%,%3!#W!'&**3#2%!;&<4!1*#62'.67!
RQ.4.!.9,44,#$4!9&3!'#$%*,;2%.!%#!&,*!X2&5,%3!,91&'%4!*.5&%.6!%#!&',6!*&,$!
=&%9#41Q.*,'!&',6,W,'&%,#$@!#*!<*#2$6!5.-.5!#b#$.!W#*9&%,#$7!!
)5%Q#2<Q!9&$2W&'%2*,$<!W&',5,%,.4!9&3!.9,%!&,*!1#552%&$%4!,$!%Q.!1*#62'%,#$!#W!
'&**3#2%!;&<4/!9&$2W&'%2*,$<!W&',5,%,.4!&*.!42;M.'%!%#!&,*!X2&5,%3!*.<25&%,#$4/!&4!
6.4'*,;.6!;.5#8/!%Q&%!&*.!,$%.$6.6!%#!*.62'.!.9,44,#$4!42WW,',.$%53!%#!&-#,6!
-,#5&%,#$4!#W!&,*!X2&5,%3!4%&$6&*647!a#*!%Q,4!HK+/!%Q.!&$&534,4!,4!W#'24.6!#$!%Q.!',%3!#W!
+.65&$64!,$!J&$!N.*$&*6,$#!"#2$%3/!8Q,'Q!%Q.!J%263!)*.&!,4!5#'&%.67!!
6,/4i'6,"<)[!0.5,-.*3!%*2'O4!%Q&%!%*&$41#*%!'&**3#2%!;&<4!W*#9!9&$2W&'%2*.*4!#*!
6,4%*,;2%#*4!%#!%Q.!5#'&5!*.%&,5.*4!,$!%Q.!J%263!)*.&!&54#!'#$%*,;2%.!&,*!.9,44,#$4!
5#'&553!&$6!*.<,#$&5537!)4429,$<!G/?B?/???!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!1.*!%*2'O!
5#&6!&11*#I,9&%.53!FB!&$$2&5!%*2'O!%*,14!8#256!;.!$..6.6!%#!6.5,-.*!%Q.!AE/?E?/E?A!
.4%,9&%.6!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!24.6!,$!%Q.!J%263!)*.&7!
0,.4.5!.$<,$.4!.9,%!&!'#915.I!9,I%2*.!#W!&,*!1#552%&$%4/!'#91#4.6!#W!<&4.#24!&$6!
4#5,6!9&%.*,&5!=)+N!c0,.4.5!u![.&5%Q!+.4.&*'Qd/!G?FF@7!RQ.!-,4,;5.!.9,44,#$4!,$!
6,.4.5!.IQ&24%!&*.!O$#8$!&4!1&*%,'25&%.!9&%%.*/!#*!L^/!8Q,'Q!&*.!49&55!&$6!*.&6,53!
*.41,*&;5.7!RQ.!1&*%,'5.4!Q&-.!Q2$6*.64!#W!'Q.9,'&54!&64#*;.6!#$%#!%Q.,*!42*W&'.4/!
,$'526,$<!9&$3!O$#8$!#*!4241.'%.6!92%&<.$4!&$6!'&*',$#<.$47!0,.4.5!L^!
.9,44,#$4!&*.!.4%,9&%.6!%#!;.!*.41#$4,;5.!W#*!&;#2%!E?f!#W!%Q.!%#%&5!&9;,.$%!&,*!
%#I,'4!*,4O7!K$!&66,%,#$!%#!%Q.4.!<.$.*&5!*,4O4/!6,.4.5!L^!'&$!&54#!;.!*.41#$4,;5.!W#*!
.5.-&%.6!5#'&5,b.6!#*!$.&*D4#2*'.!.I1#42*.4!=cQ#%D41#%4d@7!
P,O.!9&$2W&'%2*,$<!W&',5,%,.4/!6.5,-.*3!%*2'O4!&*.!&54#!42;M.'%!%#!.I,4%,$<!*.<25&%,#$4!
1*,9&*,53!*.5&%.6!%#!6,.4.5!.9,44,#$47!RQ.4.!*.<25&%,#$4!&*.!,$%.$6.6!%#!*.62'.!
.9,44,#$4!&44#',&%.6!8,%Q!W2.5!'#9;24%,#$7!
K,./#3']&9&%'2e.#&'+#3'M0:.)<Y&,"4'M4"3"5"4+0".#[!h&*,#24!4%26,.4!Q&-.!
.4%,9&%.6!&,*!1#552%&$%!.9,44,#$4!W#*!%Q.!6,WW.*.$%!'&**3#2%!;&<4!=4,$<5.!24.!15&4%,'/!

31. *.'3'5&;5.!1&1.*/!&$6!*.24&;5.@!%#!6.%.*9,$.!&!1.*!;&<!.9,44,#$4!*&%.7!K$!#*6.*!%#!
1*#-,6.!9.%*,'4!%#!6.%.*9,$.!.$-,*#$9.$%&5!,91&'%4!&44#',&%.6!8,%Q!%Q.!L*#1#4.6!
V*6,$&$'./!*.&4#$&;5.!&44291%,#$4!;&4.6!21#$!%Q.!;.4%!&-&,5&;5.!4#2*'.4!#W!
,$W#*9&%,#$!Q&-.!;..$!.4%&;5,4Q.6!&$6!&*.!2%,5,b.6!,$!%Q,4!HK+7!J1.',W,'!9.%*,'4!%Q&%!
'#91&*.!,91&'%4!#$!&!1.*!;&<!;&4,4!&*.!&-&,5&;5.!W#*!4,$<5.!24.!15&4%,'/!*.'3'5&;5.!
1&1.*/!&$6!5#8D6.$4,%3!1#53.%Q35.$.!=P0LH@!*.24&;5.!;&<47!),*!1#552%&$%!.9,44,#$4!
&44#',&%.6!8,%Q!%Q.!9&$2W&'%2*.!&$6!%*&$41#*%!#W!#$.!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!
*.425%!,$!F7>!%,9.4!%Q.!,91&'%!#$!&%9#41Q.*,'!&',6,W,'&%,#$!&4!&,*!1#552%&$%!.9,44,#$4!
&44#',&%.6!8,%Q!#$.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<7!V$!&!1.*!;&<!;&4,4/!&!*.24&;5.!
'&**3#2%!;&<!%Q&%!,4!9&6.!#W!P0LH!15&4%,'!8#256!*.425%!,$!A!%,9.4!%Q.!&%9#41Q.*,'!
&',6,W,'&%,#$!'#91&*.6!%#!&!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!,W!%Q.!P0LH!;&<!,4!#$53!
24.6!#$.!%,9.7!K$!&66,%,#$/!#$!&!1.*!;&<!;&4,4/!&!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!Q&4!
F7A!%,9.4!%Q.!,91&'%!#$!<*#2$6!5.-.5!#b#$.!W#*9&%,#$!#W!&!4,$<5.!24.!15&4%,'!'&**3#2%!
;&<7!a,$&553/!&!*.24&;5.!'&**3#2%!;&<!%Q&%!,4!9&6.!#W!P0LH!15&4%,'!&$6!#$53!24.6!#$.!
%,9.!8#256!*.425%!,$!F7S!%,9.4!%Q.!<*#2$6!5.-.5!#b#$.!W#*9&%,#$!#W!&!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<!=J%.1Q.$!P7!k#4.1Q/!G?F?j!H'#;,5&$/!G??Sj!a+K0ZH/!G??Gj!&$6!
Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?/!",%3!#W!J&$%&!^#$,'&!J,$<5.!24.!"&**3#2%!N&<!
V*6,$&$'.!a,$&5!HK+/!k&$2&*3!G?FF@7!
RQ.!&;#-.!4%&%,4%,'4!24.!%Q.!P0LH!'&**3#2%!;&<!&4!&!*.1*.4.$%&%,#$!#W!*.24&;5.!;&<4!
,$!.-&52&%,$<!&,*!X2&5,%3!,91&'%47!RQ.*.!,4!$#!O$#8$!&-&,5&;5.!P,W.!"3'5.!)44.449.$%!
%Q&%!.-&52&%.4!&55!%31.4!#W!*.24&;5.!;&<4!='&$-&4/!'#%%#$/!'&5,'#/!.%'7@!8,%Q!*.41.'%!%#!
1#%.$%,&5!&,*!1#552%&$%!.9,44,#$47![#8.-.*/!%Q.!#-.*&55!.9,44,#$4!W*#9!&55!%31.4!#W!
*.24&;5.!'&**3#2%!;&<4!&*.!5#8.*!%Q&$!4,$<5.!24.!15&4%,'!&$6!*.'3'5&;5.!1&1.*!
'&**3#2%!;&<4!;.'&24.!*.24&;5.!'&**3#2%!;&<4!&*.!242&553!24.6!&%!5.&4%!#$'.!1.*!
8..O/!#*!TGF!24.4!;&4.6!#$!#$.!24.!1.*!8..O!&$6!&!#$.D3.&*!5,W.41&$7!!
R&;5.!S7FDA!5,4%4!%Q.!.9,44,#$4!'#$%*,;2%,$<!%#!<*#2$6!5.-.5!#b#$.!&$6!&%9#41Q.*,'!
&',6,W,'&%,#$!24,$<!%Q.!1.*D;&<!,91&'%!*&%.4!6,4'244.6!&;#-.!&$6!%Q.!.4%,9&%.6!
$29;.*!#W!.I,4%,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!24.6!,$!%Q.!J%263!)*.&7!)4!4Q#8$!
,$!R&;5.!S7FDA/!%Q.!9&$2W&'%2*.!&$6!%*&$41#*%!#W!4,$<5.!24.!15&4%,'!;&<4!'2**.$%53!
24.6!,$!%Q.!J%263!)*.&!.&'Q!3.&*!<.$.*&%.4!&$!.4%,9&%.6!G/F>?!O,5#<*&94!=O<@!#W!
.9,44,#$4!&44#',&%.6!8,%Q!<*#2$6!5.-.5!#b#$.!&$6!F?A/GGT!O<!#W!.9,44,#$4!
&44#',&%.6!8,%Q!&%9#41Q.*,'!&',6,W,'&%,#$7!!
5['=&$/%+0".#)'+<<%"4+N%&'0.'I+#/5+40/,"#$'T+4"%"0"&)[''
HL)!R,%5.!h!L.*9,%7!R,%5.!h!,4!&!W.6.*&5!1*#<*&9!6.4,<$.6!%#!4%&$6&*6,b.!&,*!X2&5,%3!
1.*9,%4!&$6!%Q.!1.*9,%%,$<!1*#'.44!W#*!9&M#*!4#2*'.4!#W!.9,44,#$4!&'*#44!%Q.!
'#2$%*37!RQ.!$&9.!vR,%5.!hv!'#9.4!W*#9!R,%5.!h!#W!%Q.!F>>?!W.6.*&5!"5.&$!),*!)'%!
)9.$69.$%4/!8Q,'Q!*.X2,*.4!%Q.!HL)!%#!.4%&;5,4Q!&!$&%,#$&5/!#1.*&%,$<!1.*9,%!
1*#<*&97!)''#*6,$<53/!HL)!&6#1%.6!*.<25&%,#$4!nR,%5.!S?!#W!%Q.!"#6.!#W!a.6.*&5!
+.<25&%,#$4/!"Q&1%.*!F/!L&*%!E?!=L&*%!E?@o/!8Q,'Q!*.X2,*.!4%&%.4!&$6!5#'&5!1.*9,%%,$<!
&2%Q#*,%,.4!%#!6.-.5#1!&$6!42;9,%!&!W.6.*&553!.$W#*'.&;5.!#1.*&%,$<!1.*9,%!
1*#<*&94!W#*!HL)!&11*#-&57!R,%5.!h!#$53!&115,.4!%#!v9&M#*!4#2*'.47v!HL)!6.W,$.4!&!
9&M#*!4#2*'.!&4!&!W&',5,%3!%Q&%!.9,%4/!#*!Q&4!%Q.!1#%.$%,&5!%#!.9,%!=LRH@!&$3!'*,%.*,&!
1#552%&$%!#*!Q&b&*6#24!&,*!1#552%&$%!=[)L@!&%!5.-.54!.X2&5!%#!#*!<*.&%.*!%Q&$!%Q.!

32. ^&M#*!J#2*'.!RQ*.4Q#564!=^JR@7!RQ.!^JR!W#*!'*,%.*,&!1#552%&$%4!9&3!-&*3!
6.1.$6,$<!#$!%Q.!&%%&,$9.$%!4%&%24!=.7<7!9&*<,$&5/!4.*,#24/!.I%*.9.@!#W!%Q.!
<.#<*&1Q,'!&*.&!&$6!%Q.!"*,%.*,&!L#552%&$%!#*![)L!,$!8Q,'Q!%Q.!W&',5,%3!,4!5#'&%.6!
=HL)!R,%5.!h/!0.'.9;.*!G??B@7!"&**3#2%!;&<!9&$2W&'%2*,$<!W&',5,%,.4!%Q&%!.9,%!&$3!
'*,%.*,&!1#552%&$%!#*![)L!&%!5.-.54!.X2&5!%#!#*!<*.&%.*!%Q&$!%Q.!^JR!#W!%Q.!5#'&5!&,*!
X2&5,%3!9&$&<.9.$%!6,4%*,'%!8#256!$..6!%#!#;%&,$/!&$6!9&,$%&,$!'#915,&$'.!8,%Q/!&!
R,%5.!h!1.*9,%7!
6+N%&'F[BVC'*/,,&#0'8:"))".#)'5,.:'K,./#3']&9&%'2e.#&'+#3'
M0:.)<Y&,"4'M4"3"5"4+0".#'_MM`'5,.:'!"#$%&'()&'Q%+)0"4'*+,,-./0'1+$)';#'0Y&'
!0/3-'M,&+'
*+,,-./0''
1+$'6-<&'
?'.5'1+$)''
()&3'<&,''
P&+,'
2e.#&'
8:"))".#)''
_i$`'<&,'
BWAAA''
N+$)'BW'
2e.#&''
8:"))".#)'
<&,''
-&+,'_i$`'
MM'8:"))".#)'_i$`''
<&,'BWAAA'N+$)'
MM''
8:"))".#)''
<&,'-&+,''
_i$`'
!"#$%&'
/)&'
<%+)0"4'
CGWAGAWGAC' A[A@C' E^C' B[AEF' FAWBEF'
' ' 6.0+%' E^C' 6.0+%' FAWBEF'
F!K91&'%!*&%.!1.*!;&<!&4!4%&%.6!,$!J%.1Q.$!P7!k#4.1Q/!G?F?j!H'#;,5&$/!G??Sj!a+K0ZH/!G??Gj!&$6!Z*..$!
",%,.4!"&5,W#*$,&!^H)/!G?F?j!J&$%&!^#$,'&!J,$<5.!24.!"&**3#2%!N&<!V*6,$&$'.!a,$&5!HK+/!k&$2&*3!
G?FF7!
G!H9,44,#$4!1.*!F/???!;&<4!W*#9!H'#;,5&$/!G??Sj!J&$%&!^#$,'&!J,$<5.!24.!"&**3#2%!N&<!V*6,$&$'.!
a,$&5!HK+/!k&$2&*3!G?FF7!
A!H9,44,#$4!1.*!F/???!;&<4!W*#9!a+K0ZH/!G??G!&$6!Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?j!J&$%&!^#$,'&!
J,$<5.!24.!"&**3#2%!N&<!V*6,$&$'.!a,$&5!HK+/!k&$2&*3!G?FF7!
S!H9,44,#$4!1.*!3.&*!s!=H9,44,#$4!,$!O<!1.*!F/???!;&<4!*&%.!I!$29;.*!#W!;&<4!24.6!1.*!3.&*!l!F/???@!
].4+%'M",'X/+%"0-'I+#+$&:&#0'U")0,"40'8j/"<:&#0'Q&,:"0)[!^&$2W&'%2*,$<!
W&',5,%,.4!9&3!&54#!;.!*.X2,*.6!%#!#;%&,$!1.*9,%4!W*#9!%Q.!5#'&5!&,*!X2&5,%3!
9&$&<.9.$%!6,4%*,'%7!)!5#'&5!&,*!X2&5,%3!9&$&<.9.$%!6,4%*,'%!1.*9,%!,4!&!8*,%%.$!
&2%Q#*,b&%,#$!%#!;2,56/!,$4%&55/!&5%.*/!*.15&'./!#*!#1.*&%.!.X2,19.$%!%Q&%!.9,%4!#*!
'#$%*#54!%Q.!.9,44,#$!#W!&,*!'#$%&9,$&$%4/!42'Q!&4!]VI/!"V/!L^F?/!#I,6.4!#W!425W2*!
=JVI@/!#*!%#I,'47!L.*9,%4!.$42*.!%Q&%!.9,44,#$!'#$%*#54!9..%!%Q.!$..6!W#*!%Q.!5#'&5!
*.<,#$!%#!9&O.!4%.&63!1*#<*.44!%#8&*6!&'Q,.-,$<!&$6!9&,$%&,$,$<!W.6.*&5!&$6!4%&%.!
&,*!X2&5,%3!4%&$6&*647!!
=&$/%+0".#)'+<<%"4+N%&'0.'U&%"9&,-'6,/4i)[''
Z,P3+%&'V#%@)P9G0)'92#4#.'^#-28.#4'*J,PF4#5'3#EG.%02+,M!V$!0.'.9;.*!FG/!G??B/!%Q.!
)+N!&11*#-.6!&!$.8!*.<25&%,#$!%#!*.62'.!.9,44,#$4!W*#9!.I,4%,$<!#$D*#&6!6,.4.5!
-.Q,'5.4!#1.*&%,$<!,$!"&5,W#*$,&7!RQ.!*.<25&%,#$!*.X2,*.4!&WW.'%.6!%*2'O4!&$6!;24.4!%#!

33. 9..%!1.*W#*9&$'.!*.X2,*.9.$%47![.&-,.*!%*2'O4!8.*.!*.X2,*.6!%#!;.!*.%*#W,%%.6!
8,%Q!L^!W,5%.*4!;.<,$$,$<!
k&$2&*3!F/!G?FG/!&$6!#56.*!%*2'O4!924%!;.!*.15&'.6!4%&*%,$<!k&$2&*3!F/!G?FT7!N3!
k&$2&*3!F/!G?GA!&55!-.Q,'5.4!924%!Q&-.!&!G?F?!9#6.5!3.&*!.$<,$.!#*!.X2,-&5.$%7!RQ.!
*.<25&%,#$!,4!,$%.$6.6!%#!*.62'.!.9,44,#$4!#W!6,.4.5!L^/!#I,6.4!#W!$,%*#<.$!&$6!#%Q.*!
'*,%.*,&!1#552%&$%4!=)+N!cR*2'O!&$6!N24!+.<25&%,#$/!U16&%.6!^&*'Q!GG/!G?FG@7!)55!
%*2'O4!9&O,$<!6.5,-.*,.4!#W!'&**3#2%!;&<4!,$!"&5,W#*$,&!8,55!;.!*.X2,*.6!%#!&6Q.*.!%#!
%Q,4!*.<25&%,#$7!!
92#4#.PWG#.#&'1+::#"82%.'K+0+"'^#-28.#'J&.2,E!P,9,%7!RQ.!*.<25&%,#$!&115,.4!%#!
6,.4.5DW2.5.6!'#99.*',&5!9#%#*!-.Q,'5.4!%Q&%!#1.*&%.!,$!%Q.!J%&%.!#W!"&5,W#*$,&!8,%Q!
<*#44!-.Q,'25&*!8.,<Q%!*&%,$<4!#W!<*.&%.*!%Q&$!F?/???!1#2$64!%Q&%!&*.!#*!924%!;.!
5,'.$4.6!W#*!#1.*&%,#$!#$!Q,<Q8&347!RQ.!,$D24.!%*2'O!*.X2,*.9.$%4!*.X2,*.!
#1.*&%#*4!#W!;#%Q!,$D4%&%.!&$6!#2%D#WD4%&%.!*.<,4%.*.6!45..1.*!;.*%Q!.X2,11.6!%*2'O4!
%#!9&$2&553!4Q2%!6#8$!%Q.,*!.$<,$.4!8Q.$!,65,$<!9#*.!%Q&$!W,-.!9,$2%.4!&%!&$3!
5#'&%,#$!8,%Q,$!"&5,W#*$,&!;.<,$$,$<!,$!G??B!=)+N!c[.&-3D02%3!h.Q,'5.!K65,$<!
H9,44,#$!+.62'%,#$!L*#<*&9d/!216&%.6!^&*'Q!G??>@7!RQ.!12*1#4.!#W!%Q,4!&,*;#*$.!
%#I,'!'#$%*#5!9.&42*.!,4!%#!*.62'.!12;5,'!.I1#42*.!%#!6,.4.5!1&*%,'25&%.!9&%%.*!&$6!
#%Q.*!&,*!'#$%&9,$&$%4!;3!5,9,%,$<!%Q.!,65,$<!#W!6,.4.5DW2.5.6!'#99.*',&5!9#%#*!
-.Q,'5.47!)55!%*2'O4!9&O,$<!6.5,-.*,.4!,$!%Q.!J%263!)*.&!&*.!*.X2,*.6!%#!'#9153!8,%Q!
%Q.!$#D,65,$<!*.X2,*.9.$%47!!
F[B[@';:<+40'M#+%-)")'
+['I&0Y.3.%.$-'+#3'!"$#"5"4+#4&'6Y,&)Y.%3)['RQ.!L*#1#4.6!V*6,$&$'.!6#.4!$#%!
,$'526.!&$3!1Q34,'&5!6.-.5#19.$%!#*!'#$4%*2'%,#$!*.5&%.6!&'%,-,%,.4j!%Q.*.W#*./!%Q.!
&$&534,4!W#'24.4!#$!.9,44,#$4!*.5&%.6!%#!'&**3#2%!;&<!9&$2W&'%2*,$<!1*#'.44.4!&$6!
%*2'O!%*,14!&44#',&%.6!8,%Q!6.5,-.*,$<!'&**3#2%!;&<4!%#!J%263!)*.&!*.%&,5.*47!a#*!&!
'#$4.*-&%,-.!.4%,9&%./!.9,44,#$4!&44#',&%.6!8,%Q!;#%Q!9&$2W&'%2*,$<!&$6!%*&$41#*%!
#W!'&**3#2%!;&<4!%#!*.%&,5.*4!8,%Q,$!%Q.!J%263!)*.&!&*.!.4%,9&%.6!,$!%Q,4!HK+7!
V1.*&%,#$&5!.9,44,#$4!&44#',&%.6!8,%Q!%*2'O!%*,14!%#!6.5,-.*!'&**3#2%!;&<4!%#!J%263!
)*.&!*.%&,5.*4!8.*.!'&5'25&%.6!24,$<!%Q.!24,$<!%Q.!U+NH^KJ!G??E!-7!>7G7S!'#912%.*!
1*#<*&9!=+,91#!&$6!)44#',&%.4/!G??E@7!RQ.!.4%,9&%.!#W!#1.*&%,#$&5!.9,44,#$4!;3!
U+NH^KJ!,$'526.4!%*2'O!%*,14!=&4429.6!%#!;.!Q.&-3!%*2'O4!D!AA/???!%#!C?/???!
1#2$64@!&$6!2%,5,b.4!%*,1!<.$.*&%,#$!*&%.4!;&4.6!#$!%Q.!,$'*.&4.!,$!%*2'O!%*,14!
*.425%,$<!W*#9!,915.9.$%&%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.7!!
N&4.6!#$!)11.$6,I!Z!#W!%Q.!"HY)!Z2,6.5,$.4/!%Q.!L*#1#4.6!V*6,$&$'.!8#256!'*.&%.!
&!4,<$,W,'&$%!&,*!X2&5,%3!,91&'%!,W!,%!8#256(!
F7!"#$W5,'%!8,%Q!#*!#;4%*2'%!,915.9.$%&%,#$!#W!%Q.!&115,'&;5.!&,*!X2&5,%3!15&$!!
G7!h,#5&%.!&$3!&,*!X2&5,%3!4%&$6&*6!#*!'#$%*,;2%.!42;4%&$%,&553!%#!&$!.I,4%,$<!#*!
1*#M.'%.6!&,*!X2&5,%3!-,#5&%,#$!!
A7!+.425%!,$!&!'2925&%,-.53!'#$4,6.*&;5.!$.%!,$'*.&4.!#W!&$3!'*,%.*,&!1#552%&$%!W#*!
8Q,'Q!%Q.!L*#M.'%!*.<,#$!,4!$#$D&%%&,$9.$%!2$6.*!&$!&115,'&;5.!W.6.*&5!#*!4%&%.!

34. &9;,.$%!&,*!X2&5,%3!4%&$6&*6!=,$'526,$<!*.5.&4,$<!.9,44,#$4!8Q,'Q!.I'..6!
X2&$%,%&%,-.!%Q*.4Q#564!W#*!#b#$.!1*.'2*4#*4@!!
S7!HI1#4.!4.$4,%,-.!*.'.1%#*4!%#!42;4%&$%,&5!1#552%&$%!'#$'.$%*&%,#$4!!
T7!"*.&%.!#;M.'%,#$&;5.!#6#*4!&WW.'%,$<!&!42;4%&$%,&5!$29;.*!#W!1.#15.!!
!
RQ.!L*#1#4.6!V*6,$&$'.!8#256!*.425%!,$!&!4,<$,W,'&$%!,91&'%!,W!.9,44,#$4!8#256!
.I'..6!&$3!#W!%Q.!W#55#8,$<!%Q*.4Q#564(!
! TS!1#2$64!1.*!6&3!#W!+VZ!
! TS!1#2$64!1.*!6&3!#W!]VI!
! BG!1#2$64!1.*!6&3!#W!L^F?!
! TS!1#2$64!1.*!6&3!#W!L^G7T!
!
N['Q,.a&40';:<+40)'+#3'I"0"$+0".#'I&+)/,&)['
K91&'%!)YDF!,%Q!&!4Q,W%!%#8&*6!*.'3'5&;5.!1&1.*!&$6!*.24&;5.!'&**3#2%!;&<4/!%Q.!
L*#1#4.6!V*6,$&$'.!,4!.I1.'%.6!%#!42;4%&$%,&553!*.62'.!%Q.!$29;.*!#W!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!24.6!8,%Q,$!%Q.!J%263!)*.&/!%Q.*.;3!*.62',$<!%Q.!%#%&5!$29;.*!
#W!;&<4!9&$2W&'%2*.67!RQ.!#b#$.!.9,44,#$4!&44#',&%.6!8,%Q!&55!%31.4!#W!'&**3#2%!;&<!
9&$2W&'%2*./!%*&$41#*%/!&$6!24.!8#256!6.'*.&4.!'#91&*.6!%#!.I,4%,$<!'#$6,%,#$47!
)5%Q#2<Q!&%9#41Q.*,'!&',6,W,'&%,#$!.9,44,#$4!&44#',&%.6!'&**3#2%!;&<!9&$2W&'%2*./!
%*&$41#*%/!&$6!24.!8#256!,$'*.&4./!'&**3#2%!;&<!9&$2W&'%2*.*4!8#256!;.!*.X2,*.6!
%#!'#9153!8,%Q!.I,4%,$<!&,*!X2&5,%3!*.<25&%,#$47!RQ.*.W#*./!&,*!X2&5,%3!,91&'%4!*.5&%.6!
%#!&5%.*&%,#$!#W!1*#'.44,$<!&'%,-,%,.4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%7!
RQ.!,$%.$%!#W!%Q.!L*#1#4.6!V*6,$&$'.!,4!%#!*.62'.!%Q.!.$-,*#$9.$%&5!,91&'%4!#W!
4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!RQ.!L*#1#4.6!V*6,$&$'.!8#256!*.62'.!%Q.!$29;.*!
#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%Q&%!&*.!9&$2W&'%2*.6!&$6!24.6!,$!%Q.!J%263!)*.&!
&$6!8#256!,$'*.&4.!%Q.!$29;.*!#W!*.'3'5&;5.!1&1.*!&$6!*.24&;5.!'&**3#2%!;&<4!
9&$2W&'%2*.6!&$6!24.6!,$!%Q.!J%263!)*.&!'#91&*.6!%#!.I,4%,$<!'#$6,%,#$47!!
)4!6.4'*,;.6!,$!%Q.!J.%%,$</!#$!&!1.*!;&<!;&4,4/!1*#62'%,#$!&$6!%*&$41#*%!#W!&!
*.'3'5&;5.!1&1.*!'&**3#2%!;&<!Q&4!F7>!%,9.4!%Q.!,91&'%!#$!&%9#41Q.*,'!&',6,W,'&%,#$!
&4!%Q.!1*#62'%,#$!&$6!%*&$41#*%!#W!&!4,$<5.!24.!15&4%,'!'&**3#2%!;&<7!V$!&!1.*!;&<!
;&4,4/!%Q.!1*#62'%,#$!&$6!%*&$41#*%!#W!&!*.24&;5.!'&**3#2%!;&<!%Q&%!,4!9&6.!#W!P0LH!
15&4%,'!*.425%4!,$!%Q*..!%,9.4!%Q.!&%9#41Q.*,'!&',6,W,'&%,#$!,91&'%!#W!%Q.!1*#62'%,#$!
&$6!%*&$41#*%&%,#$!#W!&!4,$<5.!24.!15&4%,'!'&**3#2%!;&<7!!
+.24&;5.!'&**3#2%!;&<4!9&3!;.!9&6.!#W!-&*,#24!9&%.*,&54!#%Q.*!%Q&$!P0LH/!
,$'526,$<!'5#%Q4!42'Q!&4!'#%%#$!#*!'&$-&47![#8.-.*/!%Q.*.!,4!$#!O$#8$!&-&,5&;5.!P,W.!
"3'5.!)44.449.$%!%Q&%!.-&52&%.4!&55!%31.4!#W!*.24&;5.!'&**3#2%!;&<4!='&$-&4/!'#%%#$/!
'&5,'#/!.%'7@!8,%Q!*.41.'%!%#!1#%.$%,&5!&,*!1#552%&$%!.9,44,#$47!RQ24/!;3!24,$<!%Q.!
9.%*,'4!&44#',&%.6!8,%Q!&!P0LH!*.24&;5.!'&**3#2%!;&<!W#*!X2&$%,W3,$<!&,*!X2&5,%3!
.9,44,#$4/!%Q,4!HK+!2%,5,b.4!%Q.!;.4%!&-&,5&;5.!,$W#*9&%,#$!*.<&*6,$<!41.',W,'!9.%*,'4!
#$!&!1.*!;&<!;&4,4!%#!6,4'5#4.!.$-,*#$9.$%&5!,91&'%4!&44#',&%.6!8,%Q!%Q.!L*#1#4.6!

35. V*6,$&$'.7!RQ.!#-.*&55!.9,44,#$4!W*#9!&55!%31.4!#W!*.24&;5.!'&**3#2%!;&<4!&*.!
<.$.*&553!5#8.*!%Q&$!%Q#4.!#W!4,$<5.!24.!15&4%,'!&$6!1&1.*!'&**3#2%!;&<4!!;.'&24.!
*.24&;5.!'&**3#2%!;&<4!&*.!242&553!24.6!&%!5.&4%!#$'.!1.*!8..O/!#*!TG24.4!1.*!3.&*7A!
V$!&!1.*!;&<!;&4,4/!%Q.!1*#62'%,#$!&$6!%*&$41#*%!#W!&!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!
Q&4!F7A!%,9.4!%Q.!,91&'%!#$!<*#2$6!5.-.5!#b#$.!W#*9&%,#$!&4!%Q.!1*#62'%,#$!&$6!
%*&$41#*%!#W!&!4,$<5.!24.!15&4%,'!'&**3#2%!;&<7!RQ.!1*#62'%,#$!&$6!%*&$41#*%!#W!&!
*.24&;5.!'&**3#2%!;&<!%Q&%!,4!9&6.!#W!P0LH!15&4%,'!*.425%4!,$!F7S!%,9.4!9#*.!<*#2$6!
5.-.5!#b#$.!W#*9&%,#$!%Q&$!%Q.!1*#62'%,#$!&$6!%*&$41#*%!#W!&!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<!=J%.1Q.$!P7!k#4.1Q/!G?F?j!a+K0ZH/!G??Gj!&$6!Z*..$!",%,.4!"&5,W#*$,&!
^H)/!G?F?@7!!
+.%&,5!.4%&;5,4Q9.$%4!9&O,$<!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&-&,5&;5.!8#256!;.!
*.X2,*.6!%#!.$42*.!%Q&%!%Q.4.!;&<4!%Q&%!&*.!9&6.!8,%Q!&!9,$,929!S?f!1#4%D
'#$429.*!*.'3'5.6!'#$%.$%!%#!'24%#9.*4!W#*!_?7?T!1.*!;&<7!RQ,4!9&$6&%#*3!'Q&*<.!
8#256!'*.&%.!&!6,4,$'.$%,-.!%#!'24%#9.*4!%#!*.X2.4%!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!
8Q.$!4Q#11,$<!&%!*.<25&%.6!4%#*.4!&$6!,4!,$%.$6.6!%#!1*#9#%.!&!4Q,W%!%#8&*6!%Q.!24.!
#W!*.24&;5.!'&**3#2%!;&<4!;3!'#$429.*4!,$!%Q.!J%263!)*.&7!RQ,4!&$&534,4!&4429.4!
%Q&%!&4!&!*.425%!#W!%Q.!L*#1#4.6!V*6,$&$'./!>Tf!#W!%Q.!4,$<5.!24.!15&4%,'!'&**3#2%!
;&<4!'2**.$%53!24.6!,$!%Q.!J%263!)*.&!8#256!;.!*.15&'.6!;3!*.'3'5&;5.!1&1.*!
'&**3#2%!;&<4!=&11*#I,9&%.53!CTf@!&$6!*.24&;5.!'&**3#2%!;&<4!=&11*#I,9&%.53!
A?f@7!RQ.!*.9&,$,$<!Tf!#W!%Q.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!'2**.$%53!24.6!
8,%Q,$!%Q.!J%263!)*.&!&$$2&553!&*.!&$%,',1&%.6!%#!*.9&,$!,$!24.7!
!"$#"5"4+#4&'+50&,'I"0"$+0".#7!K91&'%4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%!8,%Q#2%!
9,%,<&%,#$7!!
K91&'%!)YDG!,%Q!&$!.I1.'%.6!,$'*.&4.!,$!%Q.!24.!#W!*.'3'5&;5.!1&1.*!&$6!*.24&;5.!
'&**3#2%!;&<4/!%Q.!L*#1#4.6!V*6,$&$'.!8#256!<.$.*&%.!&,*!1#552%&$%!.9,44,#$4!
&44#',&%.6!8,%Q!&$!,$'*.9.$%&5!,$'*.&4.!,$!%*2'O!%*,14!%#!6.5,-.*!*.'3'5&;5.!1&1.*!
&$6!*.24&;5.!'&**3#2%!;&<4!%#!5#'&5!*.%&,5.*47![#8.-.*/!.9,44,#$4!8#256!$#%!.I'..6!
J")Y^0!#1.*&%,#$&5!4,<$,W,'&$'.!%Q*.4Q#5647!RQ.*.W#*./!#1.*&%,#$&5!&,*!X2&5,%3!
,91&'%4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%7!
I"0"$+0".#'I&+)/,&)[!V1.*&%,#$&5!.9,44,#$4!&44#',&%.6!8,%Q!%Q.!,$'*.&4.!,$!%*2'O!
%*&WW,'!&4!&!*.425%!#W!%Q.!L*#1#4.6!V*6,$&$'.!8#256!$#%!J")Y^0!%Q*.4Q#5647!
RQ.*.W#*./!9,%,<&%,#$!,4!$#%!*.X2,*.67!
!"$#"5"4+#4&'+50&,'I"0"$+0".#[!K91&'%4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%!8,%Q#2%!
9,%,<&%,#$7!!
4['*/:/%+0"9&';:<+40)[!)6#1%.6!&$6!1.$6,$<!'&**3#2%!;&<!#*6,$&$'.4/!&4!
6.4'*,;.6!,$!R&;5.!ADF!,$!J.'%,#$!A7?/!H$-,*#$9.$%&5!J.%%,$</!8#256!'#$%,$2.!%#!
*.62'.!%Q.!$29;.*!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!24.6!%Q*#2<Q#2%!"&5,W#*$,&!
&$6!1*#9#%.!&!4Q,W%!%#8&*6!%Q.!24.!#W!*.24&;5.!'&**3#2%!;&<47!J,9,5&*!%#!%Q.!
L*#1#4.6!V*6,$&$'./!42'Q!#*6,$&$'.4!8#256!;.!.I1.'%.6!%#!<.$.*&553!*.62'.!%Q.!
#-.*&55!$29;.*!#W!'&**3#2%!;&<4!9&$2W&'%2*.67!HI,4%,$<!&$6!W2%2*.!9&$2W&'%2*,$<!
W&',5,%,.4!8#256!'#$%,$2.!%#!;.!42;M.'%!%#!W.6.*&5!&$6!4%&%.!&,*!1#552%,#$!*.<25&%,#$4!

36. =4..!%Q.!J.%%,$<!W#*!6,4'244,#$!#W!&115,'&;5.!*.<25&%,#$4@7!J,9,5&*!%#!%Q.!L*#1#4.6!
V*6,$&$'./!#%Q.*!&6#1%.6!&$6!1.$6,$<!#*6,$&$'.4!8#256!;.!.I1.'%.6!%#!
,$'*.9.$%&553!*.62'.!#b#$.!.9,44,#$47!)6#1%.6!&$6!1.$6,$<!#*6,$&$'.4!9&3!
,$'*.&4.!&%9#41Q.*,'!&',6,W,'&%,#$!.9,44,#$4!&44#',&%.6!8,%Q!*.'3'5&;5.!1&1.*!
'&**3#2%!;&<!24./!%Q#2<Q!%Q,4!8#256!6.1.$6!#$!%Q.!9&$6&%#*3!'Q&*<.!W#*!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<4!&44#',&%.6!8,%Q!.&'Q!#*6,$&$'.7!a#*!#*6,$&$'.4!8,%Q!Q,<Q.*!
W..4!#$!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!=_?7F?!&$6!Q,<Q.*@/!9#*.!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!8#256!;.!*.15&'.6!;3!*.24&;5.!'&**3#2%!;&<4!*&%Q.*!%Q&$!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<4!&$6!%Q.!&44#',&%.6!&%9#41Q.*,'!&',6,W,'&%,#$!.9,44,#$4!8#256!
;.!*.62'.6!'#91&*.6!%#!.I,4%,$<!'#$6,%,#$47!!
].-.*%Q.5.44/!8,%Q!&6Q.*.$'.!%#!.I,4%,$<!*25.4!&$6!*.<25&%,#$4!*.<&*6,$<!&,*!
1#552%,#$!.9,44,#$4!W*#9!'&**3#2%!;&<!9&$2W&'%2*,$<!W&',5,%,.4!=,7.7(!HL)!R,%5.!h!
1.*9,%!1*#<*&9/!5#'&5!&,*!6,4%*,'%!*.<25&%,#$4@!,91&'%4!&44#',&%.6!8,%Q!'&**3#2%!;&<!
9&$2W&'%2*,$<!8#256!;.!5.44!%Q&$!4,<$,W,'&$%!&$6!$#%!'2925&%,-.!'#$4,6.*&;5.7!!
J,9,5&*!%#!%Q.!L*#1#4.6!V*6,$&$'./!#%Q.*!&6#1%.6!&$6!1.$6,$<!#*6,$&$'.4!8#256!
&54#!;.!.I1.'%.6!%#!,$'*.9.$%&553!'Q&$<.!%Q.!$29;.*!#W!%*2'O!%*,14!&44#',&%.6!8,%Q!
'&**3#2%!;&<!6.5,-.*3!&$6!&44#',&%.6!.9,44,#$47!N&4.6!#$!%Q.!,$'*.9.$%&5!,$'*.&4.!
,$!&,*!1#552%&$%!.9,44,#$4!&44#',&%.6!8,%Q!%Q.!L*#1#4.6!V*6,$&$'.!=,$'*.&4.!#W!5.44!
%Q&$!#$.!%.$%Q!#W!&!1#2$6!1.*!6&3!W#*!.&'Q!'*,%.*,&!1#552%&$%@/!%Q.!#%Q.*!#*6,$&$'.4!
&*.!$#%!.I1.'%.6!%#!<.$.*&%.!&!'2925&%,-.!,$'*.&4.!,$!.9,44,#$4!%Q&%!8#256!.I'..6!
J")Y^0!%Q*.4Q#564!#*!&6-.*4.53!&WW.'%!*.<,#$&5!&,*!X2&5,%37!^#*.#-.*/!%Q.!,$'*.&4.!
,$!%*2'O!%*,14!%#!6.5,-.*!*.24&;5.!'&**3#2%!;&<4!8#256!;.!&%!5.&4%!1&*%,&553!#WW4.%!;3!&!
*.62'%,#$!,$!%*,14!%#!6.5,-.*!4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!RQ.*.W#*./!'2925&%,-.!
&,*!X2&5,%3!,91&'%4!8,%Q!*.41.'%!%#!%*2'O!%*,14!&44#',&%.6!8,%Q!'&**3#2%!;&<!6.5,-.*3!
8#256!$#%!;.!4,<$,W,'&$%7!
'
F[@'1;2]2K;*M]'=8!2(=*8!'
!
RQ,4!4.'%,#$!&$&53b.4!%Q.!L*#1#4.6!V*6,$&$'.e4!,91&'%4!%#!;,#5#<,'&5!*.4#2*'.47!
N#%Q!6,*.'%!,91&'%4!&44#',&%.6!8,%Q!%Q.!L*#1#4.6!V*6,$&$'.!&$6!,$6,*.'%!,91&'%4!%#!
#WWD4,%.!;,#5#<,'&5!*.4#2*'.4!&*.!&66*.44.67!
'
F[@[B'!&00"#$'
'
+['6&,,&)0,"+%'+#3'="<+,"+#'>+N"0+07!RQ.!L*#1#4.6!V*6,$&$'.!8#256!&1153!%#!%Q.!
M2*,46,'%,#$&5!5,9,%4!#W!%Q.!W#55#8,$<!,$'#*1#*&%.6!M2*,46,'%,#$4!8,%Q,$!J&$!
N.*$&*6,$#!"#2$%3(!
+.65&$647!J&$!N.*$&*6,$#!,4!Q#9.!%#!&!$29;.*!#W!6,-.*4.!&$6!,91#*%&$%!$&%2*&5!
'#992$,%,.4/!*,1&*,&$!Q&;,%&%4/!&$6!&$!215&$6!9#4&,'!#W!W#*.4%4/!8##65&$64/!
<*&445&$64/!&$6!'Q&1&**&57!RQ.!4%263!&*.&!,4!1*,9&*,53!5#'&%.6!,$!%Q.!J&$!N.*$&*6,$#!
"#2$%3/!&6M&'.$%!%#!9&$3!6,-.*4.!&$6!W*&<,5.!'#992$,%,.47!!
'

37. N['*+,,-./0'1+$)'+#3'1".%.$"4+%'=&)./,4&)['"&**3#2%!;&<4!'&$!&WW.'%!;,#5#<,'&5!
*.4#2*'.4!&4!&!*.425%!#W!5,%%.*!%Q&%!.$%.*4!%Q.!4%#*9!6*&,$!434%.9!&$6!25%,9&%.53!
'#&4%&5!&$6!9&*,$.!.$-,*#$9.$%47!J,$<5.!24.!15&4%,'!'&**3#2%!;&<4!.$%.*!%Q.!
;,#5#<,'&5!.$-,*#$9.$%!1*,9&*,53!&4!5,%%.*7!RQ,4!'&$!&6-.*4.53!&WW.'%!%.**.4%*,&5!
&$,9&5!41.',.4/!&$6!9&*,$.!41.',.4!%Q&%!,$<.4%!%Q.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!#*!
;.'#9.!%&$<5.6!,$!%Q.!;&<!=Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7!N&4.6!#$!%Q.!6&%&!
'#55.'%.6!W#*!%Q.!V'.&$!"#$4.*-&$'3m4!+.1#*%!W*#9!J.1%.9;.*!G??>!V'.&$!
"#$4.*-&$'3m4!K$%.*$&%,#$&5!"#&4%&5!"5.&$21!0&3/!&11*#I,9&%.53!FFf!#W!%#%&5!6.;*,4!
,%.94!'#55.'%.6!8&4!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!=V'.&$!"#$4.*-&$'3/!)1*,5!
G?F?@7!V-.*!GC?!41.',.4!#W!8,565,W./!,$'526,$<!,$-.*%.;*&%.4/!%2*%5.4/!W,4Q/!4.&;,*64!
&$6!9&99&54/!Q&-.!;..$!*.1#*%.6!%#!,$<.4%!#*!;.'#9.!.$%&$<5.6!,$!15&4%,'!6.;*,47!
K$<.4%,#$!#*!.$%&$<5.9.$%!9&3!*.425%!,$!,91&,*.6!9#-.9.$%!&$6!W..6,$</!*.62'.6!
1*#62'%,-,%3/!5&'.*&%,#$4/!25'.*4/!&$6!6.&%Q!=P&,4%/!F>>Ej!0.**&,O!&$6!Z*.<#*3/!G??>@7!
K$<.4%.6!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!'&$!&WW.'%!8,565,W.!;3!'5#<<,$<!&$,9&5!
%Q*#&%4!&$6!'&24,$<!'Q#O,$</!W,55,$<!&$,9&5!4%#9&'Q4!4#!%Q&%!%Q.3!'&$$#%!'#$429.!
*.&5!W##6/!&$6!,$W.'%,$<!&$,9&54!8,%Q!%#I,$4!W*#9!%Q.!15&4%,'!=Z*..$!",%,.4!"&5,W#*$,&!
^H)/!G?F?@7!
!
+.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&*.!&54#!*.5.&4.6!,$%#!%Q.!.$-,*#$9.$%!&4!5,%%.*7!
[#8.-.*/!%Q.3!<.$.*&553!Q&-.!5.44!,91&'%!#$!8,565,W.!;.'&24.!%Q.3!&*.!$#%!&4!
*.4,4%&$%!%#!;*.&O6#8$!&4!,4!15&4%,'j!%Q.*.W#*./!%Q.3!&*.!5.44!5,O.53!%#!'&24.!
.$%&$<5.9.$%7!+.24&;5.!'&**3#2%!;&<4!'&$!&54#!;.!*.5.&4.6!,$%#!%Q.!.$-,*#$9.$%!&4!
5,%%.*7![#8.-.*/!;.'&24.!#W!%Q.!8.,<Q%!&$6!4%2*6,$.44!#W!%Q.4.!;&<4/!*.24&;5.!
'&**3#2%!;&<4!&*.!5.44!5,O.53!%#!;.!5,%%.*.6!#*!'&**,.6!W*#9!5&$6W,554!;3!8,$6!&4!5,%%.*!
'#91&*.6!%#!4,$<5.!24.!15&4%,'!&$6!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!=Z*..$!",%,.4!
"&5,W#*$,&!^H)/!G?F?@7!K$!&66,%,#$/!4,$'.!*.24&;5.!'&**3#2%!;&<4!'&$!;.!24.6!21!%#!
TG!%,9.4/!%Q.3!8#256!;.!6,41#4.6!#W!5.44!#W%.$!%Q&$!4,$<5.!24.!15&4%,'!#*!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<47!)4!42'Q/!*.24&;5.!'&**3#2%!;&<4!&*.!5.44!5,O.53!%#!.$%.*!%Q.!
9&*,$.!.$-,*#$9.$%!&4!5,%%.*/!8Q.$!'#91&*.6!%#!4,$<5.!24.!15&4%,'!#*!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<47!
'
*['!<&4"+%'!0+0/)'!<&4"&)['!
!
J.$4,%,-.!41.',.4!&4!5,4%.6!#$!%Q.!"&5,W#*$,&!]&%2*&5!0,-.*4,%3!0&%&;&4.!="]00N@!&$6!
%Q.!U7J7!a,4Q!&$6!,565,W.!J.*-,'.!=UJaJ@/!8Q,'Q!9&3!,$Q&;,%!4%263!&*.&7!
!
J1.',&5!J%&%24!L5&$%4(!
'
R.)Y/+'6,&&'_P/44+'N,&9"5.%"+`'
!
cRQ.!k#4Q2&!%*..!Q&4!;.'#9.!&$!,91#*%&$%!439;#5!#W!%Q.!^#M&-.!0.4.*%7!]&9.6!
&W%.*! %Q.! ;,;5,'&5! W,<2*.! k#4Q2&! ;3! ^#*9#$! L,#$..*4/! k#4Q2&! R*..4! <*#8! ;.4%! &%!
.5.-&%,#$4!;.%8..$!G/???!&$6!C/???!W..%/!1*.W.*!W5&%!#*!<.$%53!45#1,$<!%.**&,$/!&$6!
&*.!242&553!42115&$%.6!#$!4%..1!Q,554!8,%Q,$!%Q.,*!*&$<.!;3!;5&'O!;*24Q!&$6!#%Q.*!
4'*2;47!RQ.!5&*<.4%!41.',9.$4!'&$!;.!9&44,-./!#-.*!AG!W..%!,$!Q.,<Q%!8,%Q!&!%*2$O!

38. ',*'29W.*.$'.! #W! FG! W..%7! RQ.3! 6#! $#%! Q&-.! <*#8%Q! *,$<4! 5,O.! %*2.! %*..4/! 4#!
6.%.*9,$,$<!%Q.,*!&<.!'&$!;.!6,WW,'25%/!#$.!k#4Q2&!%*..!,$!%Q.!k#4Q2&!R*..!]&%,#$&5!
L&*O!Q&4!;..$!.4%,9&%.6!%#!;.!&;#2%!>??!3.&*4!#567d="#2$%3!#W!J&$!N.*$&*6,$#/!
G??E@!
!
! *+%"5.,#"+'2+i!
!
cRQ.*.!,4!&!-&*,&%,#$!#W!"&5,W#*$,&e4!V&O!%*..4!W#2$6!%Q*#2<Q#2%!%Q.!4%&%.7!RQ.!9&,$!
41.',.4! #W! #&O! ,$! 4#2%Q.*$! "&5,W#*$,&! ,$'526.! ;52.! #&O/! ,$%.*,#*! 5,-.! #&O/! -&55.3! #&O/!
'&$3#$!#&O/!'#&4%!5,-.!#&O/!"&5,W#*$,&!4Q*2;!#&O/!&$6!H$<.59&$$!#&O7!RQ.3!&*.!W#2$6!
%#!;.!%Q.!6#9,$&$%!41.',.4!,$!9&$3!J&$!N.*$&*6,$#!'Q&1&**&5!&$6!8##65&$6!Q&;,%&%47!
V&O! 8##65&$64! 1*#-,6.! Q&;,%&%! W#*! 9#*.! %Q&$! A??! 41.',.4! #W! 8,565,W./! 9#6.*&%.!
%.91.*&%2*.!.I%*.9.4/!*.62'.!4#,5!.*#4,#$!&$6!424%&,$!8&%.*!X2&5,%37!^#*.#-.*/!#&O!
8##65&$64! W&',5,%&%.! $2%*,.$%! '3'5,$<! &$6! 1*#-,6.! W#*&<.! W#*! $29.*#24! 8,565,W.!
41.',.47!RQ.!8,565,W.!%Q&%!42**#2$64!%Q.!%*..4!6.1.$64!#$!%Q.9!W#*!9&$3!*.&4#$4/!42'Q!
&4/!1*#%.'%,#$!W#*!$.4%,$</!4Q.5%.*/!W##6/!&$6!4Q&6.7![#8.-.*/!&''#*6,$<!%#!%Q.!V&O4!
G?S?! 42*-.3/! ,%! .4%,9&%.4! %Q&%! ET?/???! &'*.4! #W! "&5,W#*$,&! #&O! 8##65&$64! 8,55! ;.!
4.*,#2453!%Q*.&%.$.6!;3!G?S?!&4!&!N/,$&.#"#$' )0+0&' <.</%+0".#!9&O.4!.-.*!9#*.!
24.!#W!%Q.!8,56!5&$6!,$!"&5,W#*$,&7d!="#2$%3!#W!J&$!N.*$&*6,$#/!G??E@!!
'
!+#0+'M#+'="9&,'H..%%-'!0+,'_'8,"+)0,/:'3&#)"5.%"/:')+#40.,/:`''
!
cN,#5#<,4%4! '&55! ,%! %Q.! H*,&4%*29! 6.$4,W#5,29! 4&$'%#*297! RQ.! J&$%&! )$&! +,-.*!
8##553!4%&*!,4!&!8,56!W5#8.*,$<!15&$%7!K%!;.5#$<4!%#!%Q.!+,-.*4,6,&$!)552-,&5!a&$!J&<.!
J'*2;! W&9,53! %Q&%! 6#9,$&%.4! %Q.! J&$%&! )$&! +,-.*! W5##6! 15&,$7d! ="#2$%3! #W! J&$!
N.*$&*6,$#/!G??E@!
c,%Q!4%.94!<*#8,$<!F?!%#!A?!,$'Q.4!%&55!W*#9!&!8##63!;&4./!%Q.!15&$%!Q&4!&!8Q,%.!
8##553! '#5#*! 8,%Q! ,**.<25&*53! 6,-,6.6! 5.&-.4! &5#$<! ,%4! 4%.9! &$6! ;52.D5&-.$6&*!
W5#8.*4!W#*9,$<!45.$6.*!%2;.4!%Q&%!*&6,&%.!#1.$!&%!%Q.!%#17!K%!;5##94!.-.*3!3.&*!
W*#9! 5&%.! ^&3! %#! 9,6D)2<24%/! 8,%Q! 1.&O! W5#8.*,$<! ,$! k2$.7d! ="#2$%3! #W! J&$!
N.*$&*6,$#/!G??E@!
!
D$#82%.'D0%0G4'?,2:%.46'
I./#0+"#'P&%%.7V]&$$&3'T,.$'_=+#+':/)4.)+`'
!
cRQ.!9#2$%&,$!3.55#8D5.<<.6!W*#<!,4!&11*#I,9&%.53!F7TDA7T!,$'Q.4!,$!4,b.7!RQ.!
6#*429!,4!Q,<Q53!-&*,&;5.!8,%Q!#5,-./!3.55#8,4Q!#*!;*#8$!'#5#*/!8,%Q!-&*,&%,#$!#W!
;5&'O!#*!;*#8$!5,'Q.$D5,O.!9&*O,$<47!U$6.*42*W&'.4!#W!%Q.!5.<4!&$6!5#8.*!;.553!
&*.!3.55#8!%#!1&5.!#*&$<.7d!="#2$%3!#W!J&$!N.*$&*6,$#/!G??E@!
cRQ,4! W*#<! ,$Q&;,%4! 42$$3! 4%*.&9! ;&$O4/! &$6! 2$6,4%2*;.6! 1#$64! &$6! 5&O.4/!
242&553! 8,%Q! <.$%5.! 45#1,$<! <*&-.5! ;&$O47! RQ.,*! *&$<.! '#$4,4%4! #W! %Q.! J,.**&!
].-&6&! ^#2$%&,$4! %#! %Q.! $#*%Q! &$6! ,$! %Q.! J&$! Z&;*,.5/! J&$! N.*$&*6,$#/! J&$!
k&',$%#! &$6! L&5#9&*! 9#2$%&,$4! %#! %Q.! 4#2%Q/! 8Q.*.! %Q.3! #''2*! &%! .5.-&%,#$4!

39. ;.%8..$!F/G??DE/T??!W..%7d!="#2$%3!#W!J&$!N.*$&*6,$#/!G??E@!
!
]&+)0'1&%%k)'J",&.'_J",&.'N&%%""'</)"%%/)`'
!
cRQ.! 5.&4%! N.55e4! -,*.#! =PNhK@! ,4! &! 9,<*&%#*3! 4#$<;,*6/! 6.1.$6&$%! 21#$! %Q.!
*,1&*,&$!Q&;,%&%!W#*!;*..6,$<7!P.&4%!N.55m4!-,*.#!,4!S!w!DT!,$'Q.4!,$!4,b./!&$6!,4!
49&55.*!%Q&$!&!41&**#87!K%4!'#5#*,$<!,4!6255!#5,-.D<*&3!&;#-./!8Q,%,4Q!;.5#8/!&!
W&,$%! 8Q,%.! .3.! *,$<! &$6! W&,$%.*! 8,$<! ;&*47! RQ.! $.4%,$<! ,4! ADT! 8Q,%.! .<<4/!
41&*4.53!9&*O.6!8,%Q!;*#8$!,$!&!8.55!9&6.!1.$6&$%!'21!#W!15&$%!6#8$!&$6!
;&*O! 4%*,1.4/! 15&'.6! ,$! &! 6.$4.! %*..! #*! 4Q*2;7d! ="#2$%3! #W! J&$! N.*$&*6,$#/!
G??E@!
cV$'.!8,6.41*.&6!&$6!&;2$6&$%!%Q*#2<Q#2%!*,1&*,&$!8##65&$64!,$!"&5,W#*$,&!
&$6!$#*%Q.*$!N&M&!"&5,W#*$,&/!^.I,'#/!%Q.!41.',.4!Q&4!#$53!*.'.$%53!;.<&$!&!
*.-,-&5!#$!1#125&%,#$!$29;.*4!&W%.*!&!W#*%3D3.&*!6.'5,$.!%Q&%!$.&*53!*.425%.6!
,$!%Q.,*!.I%,$'%,#$7!+.9#-&5!#W!*,1&*,&$!-.<.%&%,#$!;3!W&*9.*4/!W5##6!'#$%*#5!
1*#M.'%4!&$6!8&%.*!6,-.*4,#$4/!&$6!5#8.*.6!8&%.*!%&;5.4!62.!%#!<*#2$68&%.*!
1291,$<!6.4%*#3.6!9#4%!#W!,%4e!Q&;,%&%7d!="#2$%3!#W!J&$!N.*$&*6,$#/!G??E@!
!
*.+)0+%'*+%"5.,#"+'K#+04+04Y&,'_Q.%".<0"%+'4+%"5.,#"4+'4+%"5.,#"4/)`'
!
cRQ,4!49&55/!,$'#$41,'2#24!'#&4%&5!"&5,W#*$,&!<$&%'&%'Q.*!W5,.4!#-.*!%Q.!'#&4%&5!
4&<.!4'*2;!15&$%!'#992$,%3!,$!4.&*'Q!#W!W##67!)!1*.6#9,$&$%53!;52,4Q!<*&3!
;,*6/!,%4!6&*O.*!;&'O!&$6!9#4%53!;5&'O!%&,5!'#$%*&4%!8,%Q!,%4!5,<Q%.*D'#5#*.6!
;.5537d!
cRQ,4!;,*6!6.1.$64!21#$!'#&4%&5!4&<.!4'*2;7!K%!'&$!5,-.!$#8Q.*.!.54.7!
[,4%#*,'&553!%Q,4!;,*6!*&$<.6!W*#9!'#&4%&5!4&<.!4'*2;!&*.&4!#W!4#2%Q.*$!
h.$%2*&!"#2$%3!.I%.$6,$<!4#2%Q8&*6!%#!N&M&!"&5,W#*$,&/!^.I,'#7!J,$'.!F>>?!
%Q.*.!Q&-.!;..$!4.-.$!"&5,W#*$,&!5#'&%,#$4!,$!4#2%Q8.4%.*$!J&$!N.*$&*6,$#!
"#2$%37!RQ.4.!5#'&%,#$4!&*.!,$!P3%5.!"*..O!8&4Q/!J&$%&!)$&!+,-.*!8&4Q/!
H%,8&$6&!a&$/!&$6!k2*21&![,5547!RQ.!"#&4%&5!"&5,W#*$,&!<$&%'&%'Q.*!,4!&!
W.6.*&553!5,4%.6!%Q*.&%.$.6!41.',.47d!!
!
'
!+#'1&,#+,3"#.'+#$+,..'=+0'_U"<.3.:-)'<+,9/)`''
!
cRQ.!J&$!N.*$&*6,$#!O&$<&*##!*&%!=JNq+@!Q&4!W&,$%53!3.55#8,4Q!%,$%.6!W2*!8,%Q!&$!
#-.*D8&4Q!#W!624O3!;*#8$!&;#-.!&$6!8Q,%.!2$6.*1&$%47!K%!Q&4!&!5#$<!%&,5!8,%Q!&!
8Q,%.!4,6.!4%*,1.!8,6.*!%Q&$!%Q.!6&*O!4%*,1.4!&$6!&!624O3!%2W%.6!%,17!K%!Q&4!&!6&*O!
5,$.!#$!.,%Q.*!4,6.!#W!%Q.!$#4.7!K%!,4!%Q.!49&55.4%!O&$<&*##!,$!%Q.!U7J7!&%!
&11*#I,9&%.53!>!,$'Q.4!,$!5.$<%Q!%&,5!,$'526.67!K%!Q&4!5#$<!Q,$6!5.<4!&$6!W#2*!%#.4!
#$!.&'Q!W##%7d!="#2$%3!#W!J&$!N.*$&*6,$#/!G??E@!
cRQ,4!41.',.4!#''2*4!1*,9&*,53!,$!&552-,&5!W&$!4&<.!4'*2;!=)aJJ@!8Q,'Q!,4!&!6,4%,$'%!
Q&;,%&%!%31.!#W!%Q.!'#&4%&5!4&<.!4'*2;!="JJ@!'#992$,%37!RQ.!)aJJ!Q&;,%&%4!&*.!
'#$W,$.6!%#!*,-.*!&$6!W5##615&,$4!#W!4#2%Q.*$!J&$!N.*$&*6,$#!"#2$%3/!RQ.!'2**.$%!

40. 6,4%*,;2%,#$!#W!%Q.!JNq+!,$!J&$!N.*$&*6,$#!"#2$%3!,4!J&$!)$&!&4Q/!"&M#$!&$6!
P3%5.!"*..O/!L52$<.!"*..O/!",%3!"*..O4/!&$6!&*.&!8.4%!#W!+,&5%#!0*&,$&<.!$.&*!%Q.!
k2*21&![,5547!RQ.!JNq+!,4!&!W.6.*&553!5,4%.6!.$6&$<.*.6!41.',.4!&$6!&!J%&%.!
4.$4,%,-.!41.',.47d!="#2$%3!#W!J&$!N.*$&*6,$#/!G??E@!
'
3['=&$/%+0.,-'!&00"#$['+.<25&%#*3!&2%Q#*,%3!#-.*!;,#5#<,'&5!*.4#2*'.4!,4!4Q&*.6!;3!
W.6.*&5/!4%&%./!&$6!5#'&5!&2%Q#*,%,.4!2$6.*!&!-&*,.%3!#W!4%&%2%.4!&$6!<2,6.5,$.47!
L*,9&*3!&2%Q#*,%3!W#*!<.$.*&5!;,#5#<,'&5!*.4#2*'.4!5,.4!8,%Q,$!%Q.!5&$6!24.!'#$%*#5!
&$6!15&$$,$<!&2%Q#*,%3!#W!5#'&5!M2*,46,'%,#$47!RQ.!"&5,W#*$,&!0.1&*%9.$%!#W!a,4Q!&$6!
,565,W.!=W#*9.*53!"&5,W#*$,&!0.1&*%9.$%!#W!a,4Q!&$6!Z&9.@!="0a@!,4!&!%*24%..!
&<.$'3!W#*!;,#5#<,'&5!*.4#2*'.4!%Q*#2<Q#2%!%Q.!4%&%.!2$6.*!"HY)!&$6!&54#!Q&4!6,*.'%!
M2*,46,'%,#$!2$6.*!%Q.!"&5,W#*$,&!a,4Q!&$6!Z&9.!"#6.!="aZ"@7'
!
U$6.*!%Q.!J%&%.!&$6!a.6.*&5!H$6&$<.*.6!J1.',.4!)'%4/!%Q.!"0a!&$6!%Q.!UJaJ!
&54#!Q&-.!6,*.'%!*.<25&%#*3!&2%Q#*,%3!#-.*!41.',.4!W#*9&553!5,4%.6!&4!RQ*.&%.$.6!#*!
H$6&$<.*.67!RQ.!U7J7!0.1&*%9.$%!#W!)*93!"#*14!#W!H$<,$..*4!=UJ)"H@!Q&4!
*.<25&%#*3!&2%Q#*,%3!#-.*!41.',W,'!;,#5#<,'&5!*.4#2*'.4/!$&9.53!8.%5&$64!&$6!8&%.*4!
#W!%Q.!U$,%.6!J%&%.4/!2$6.*!J.'%,#$!S?S!#W!%Q.!W.6.*&5!"5.&$!&%.*!)'%!=")@7!RQ.!
UJ)"H!&54#!Q&4!M2*,46,'%,#$!#-.*!*,-.*4!&$6!Q&*;#*4!%Q*#2<Q!J.'%,#$!F?!#W!%Q.!")7!
&%.*4!#W!%Q.!J%&%.!W&55!2$6.*!%Q.!M2*,46,'%,#$!#W!%Q.!"0a!%Q*#2<Q!%Q.!"aZ"!&$6!%Q.!
+.<,#$&5!&%.*!Y2&5,%3!"#$%*#5!N#&*6!=+Y"N@!%Q*#2<Q!J.'%,#$!S?F!#W!%Q.!")7!
RQ.!+Y"N!&54#!Q&4!M2*,46,'%,#$!#-.*!,4#5&%.6!8&%.*4!&$6!8.%5&$64!%Q*#2<Q!%Q.!
L#*%.*D"#5#<$.!&%.*!Y2&5,%3!"#$%*#5!)'%7!
!
L5&$%4!&$6!&$,9&54!Q&-.!c41.',&5D4%&%24d!62.!%#!6.'5,$,$<!1#125&%,#$4/!-25$.*&;,5,%3!
%#!Q&;,%&%!'Q&$<./!#*!*.4%*,'%.6!6,4%*,;2%,#$47!J1.',&5D4%&%24!41.',.4!&*.!'5&44,W,.6!,$!
&!-&*,.%3!#W!8&34/!;#%Q!W#*9&553!=.7<7!J%&%.!#*!a.6.*&553!RQ*.&%.$.6!&$6!H$6&$<.*.6!
J1.',.4@!&$6!,$W#*9&553!=cJ1.',&5!)$,9&54d@7!RQ.!UJaJ!&$6!%Q.!]&%,#$&5!^&*,$.!
a,4Q.*,.4!J.*-,'.!=]^aJ@!4Q&*.!*.41#$4,;,5,%3!W#*!,915.9.$%&%,#$!#W!%Q.!W.6.*&5!
H$6&$<.*.6!J1.',.4!)'%/!8,%Q!%Q.!UJaJ!W#'24.6!#$!%.**.4%*,&5!&$6!W*.4Q8&%.*!
41.',.4!&$6!%Q.!]^aJ!W#'24.6!#$!9&*,$.!41.',.47!RQ.!UJaJ!,4!&54#!*.41#$4,;5.!W#*!
*.<25&%,#$!#W!;,*6!41.',.4!5,4%.6!2$6.*!%Q.!^,<*&%#*3!N,*6!R*.&%3!)'%!=^NR)@!
=FC!U$,%.6!J%&%.4!"#6.!nUJ"o!J.'%,#$!E?ADEFF@!&$6!%Q.!N&56!&$6!Z#56.$!H&<5.!
L*#%.'%,#$!)'%!=FC!UJ"!J.'%,#$!CCB@7!
!
RQ.!"0a!1*#%.'%4!&!8,6.!-&*,.%3!#W!41.',&5!4%&%24!41.',.4!%Q*#2<Q!%Q.!"aZ"7!U$6.*!
%Q.!"aZ"/!41.',.4!9&3!;.!W#*9&553!5,4%.6!&$6!1*#%.'%.6!&4!RQ*.&%.$.6!#*!
H$6&$<.*.6!%Q*#2<Q!%Q.!"&5,W#*$,&!H$6&$<.*.6!J1.',.4!)'%!=a,4Q!&$6!Z&9.!"#6.!
J.'%,#$!G?T?!#0M'4#T7@7!RQ.!"aZ"!&54#!1*#%.'%4!a2553!L*#%.'%.6!41.',.4/!"&5,W#*$,&!
J1.',.4!#W!J1.',&5!"#$'.*$!="J"@/!&55!$&%,-.!;,*6!41.',.4!=a,4Q!&$6!Z&9.!"#6.!
4.'%,#$4!AT?A/!AT?A7T/!&$6!ATFF@/!&$6!*&*.!15&$%4!2$6.*!%Q.!]&%,-.!L5&$%!L*#%.'%,#$!
)'%!=a,4Q!&$6!Z&9.!"#6.!J.'%,#$!F>??!#0'4#T7@7!
'
'
F[@[@';:<+40'M#+%-)")'

41. '
+['I&0Y.3.%.$-'+#3'!"$#"5"4+#4&'6Y,&)Y.%3)['"Q&1%.*!F/!J.'%,#$!GF??F='@!#W!
"HY)!4%&%.4!%Q&%!,%!,4!%Q.!1#5,'3!#W!%Q.!4%&%.!#W!"&5,W#*$,&!%#(!cL*.-.$%!%Q.!.5,9,$&%,#$!
#W!W,4Q!&$6!8,565,W.!41.',.4!62.!%#!9&$e4!&'%,-,%,.4/!.$42*.!%Q&%!W,4Q!&$6!8,565,W.!
1#125&%,#$4!6#!$#%!6*#1!;.5#8!4.5WD1.*1.%2&%,$<!5.-.54/!&$6!1*.4.*-.!W#*!W2%2*.!
<.$.*&%,#$4!*.1*.4.$%&%,#$4!#W!&55!15&$%!&$6!&$,9&5!'#992$,%,.47d!H$-,*#$9.$%&5!
,91&'%4!*.5&%,-.!%#!;,#5#<,'&5!*.4#2*'.4!9&3!;.!&44.44.6!24,$<!,91&'%!4,<$,W,'&$'.!
'*,%.*,&!.$'#91&44,$<!'Q.'O5,4%!X2.4%,#$4!W*#9!%Q.!1H_?!`G2&#.2,#4'&$6!W.6.*&5/!
4%&%./!&$6!5#'&5!15&$4/!*.<25&%,#$4/!&$6!#*6,$&$'.47!L*#M.'%!,91&'%4!%#!W5#*&!&$6!W&2$&!
9&3!;.!6.%.*9,$.6!%#!;.!4,<$,W,'&$%!.-.$!,W!%Q.3!6#!$#%!6,*.'%53!&WW.'%!*&*./!
%Q*.&%.$.6/!#*!.$6&$<.*.6!41.',.47!
!
RQ.!L*#1#4.6!V*6,$&$'.!8#256!'*.&%.!&!4,<$,W,'&$%!,91&'%!%#!;,#5#<,'&5!*.4#2*'.4!,W!
,%!8#256(!
'
=M'V%@#'%'4G(40%,02%.'%&@#"4#'#//#80I'#20-#"'&2"#80.)'+"'0-"+GE-'-%(20%0'
:+&2/28%02+,4I'+,'%,)'4$#82#4'2&#,02/2#&'%4'%'8%,&2&%0#I'4#,4202@#I'+"'4$#82%.'
40%0G4'4$#82#4'2,'.+8%.'+"'"#E2+,%.'$.%,4I'$+.282#4I'+"'"#EG.%02+,4I'+"'()'0-#'
1%.2/+",2%'9#$%"0:#,0'+/'W24-'%,&'
a2.&.2/#'*/+":#".)'9#$%"0:#,0'+/'W24-'%,&'`%:#5'+"'FMDM'W24-'%,&'a2.&.2/#'
D#"@28#'
'
;M'V%@#'%'4G(40%,02%.'%&@#"4#'#//#80'+,'%,)'"2$%"2%,'-%(20%0'+"'+0-#"'4#,4202@#'
,%0G"%.'8+::G,20)'2&#,02/2#&'2,'.+8%.'+"'"#E2+,%.'$.%,4I'$+.282#4I'+"'"#EG.%02+,4I'
+"'()'0-#'1%.2/+",2%'9#$%"0:#,0'+/'W24-'%,&'a2.&.2/#'*/+":#".)'9#$%"0:#,0'+/'
W24-'%,&'
`%:#5'+"'FMDM'W24-'%,&'a2.&.2/#'D#"@28#'
'
>M'V%@#'%'4G(40%,02%.'%&@#"4#'#//#80'+,'/#&#"%..)'$"+0#80#&'7#0.%,&4'%4'&#/2,#&'
()'D#802+,'N<N'+/'0-#'1.#%,'a%0#"'?80'*2,8.G&2,EI'(G0',+0'.2:20#&'0+I':%"4-I'
@#",%.'$++.M'8+%40%.I'#08M5'0-"+GE-'&2"#80'"#:+@%.I'/2..2,EI'-)&"+.+E28%.'
2,0#""G$02+,I'+"'+0-#"':#%,4'
'
NM'J,0#"/#"#'4G(40%,02%..)'720-'0-#':+@#:#,0'+/'%,)',%02@#'"#42&#,0'+"'
:2E"%0+")'/24-'+"'72.&.2/#'4$#82#4'+"'720-'#40%(.24-#&',%02@#'"#42&#,0'+"'
:2E"%0+")'72.&.2/#'8+""2&+"4I'+"'2:$#&#'0-#'G4#'+/',%02@#'72.&.2/#',G"4#")'420#4'
'
OM'1+,/.280'720-'%,)'.+8%.'$+.282#4'+"'+"&2,%,8#4'$"+0#802,E'(2+.+E28%.'"#4+G"8#4I'
4G8-'%4'%'0"##'$"#4#"@%02+,'$+.28)'+"'+"&2,%,8#'
'
bM'1+,/.280'720-'0-#'$"+@242+,4'+/'%,'%&+$0#&'V%(20%0'1+,4#"@%02+,'!.%,I'
A%0G"%.'1+::G,20)'1+,4#"@%02+,'!.%,I'+"'+0-#"'%$$"+@#&'.+8%.I'"#E2+,%.I'+"'
40%0#'-%(20%0'8+,4#"@%02+,'$.%,'
!
RQ.!K$,%,&5!J%263!'#$'526.6!%Q&%!#$53!%Q.!W,*4%!'*,%.*,#$!'#256!1#%.$%,&553!*.425%!,$!&!
4,<$,W,'&$%!,91&'%/!8Q,5.!%Q.!L*#1#4.6!V*6,$&$'.!8#256!*.425%!,$!$#!,91&'%!8,%Q!

42. *.41.'%!%#!%Q.!4.'#$6!%Q*#2<Q!4,I%Q!'*,%.*,&7![.$'./!#$53!%Q.!W,*4%!'*,%.*,#$!=6,*.'%!
&$6!,$6,*.'%!,91&'%4!%#!4.$4,%,-.!41.',.4!&$6l#*!%Q.,*!Q&;,%&%@!,4!&66*.44.6!,$!
K91&'%!NKVDF7!
'
N['Q,.a&40';:<+40)'+#3'I"0"$+0".#'I&+)/,&)['
'
;:<+40'1;2VBl'6Y&'Q,.<.)&3'2,3"#+#4&'7./%3'"#4,&:&#0+%%-'"#4,&+)&'0Y&'
#/:N&,'.5',&4-4%&3'<+<&,'+#3',&/)+N%&'4+,,-./0'N+$)'7"0Y"#'0Y&'!0/3-'M,&+['
>.7&9&,W'0Y&',&3/40".#'"#'0Y&'+:./#0'.5')"#$%&'/)&'<%+)0"4'4+,,-./0'N+$)'
7./%3'N&'&c<&40&3'0.',&3/4&'0Y&'.9&,+%%'+:./#0'.5'%"00&,'&#0&,"#$'0Y&'4,&&i)'
+#3'4.+)0+%'Y+N"0+0W'0Y/)',&3/4"#$'%"00&,V,&%+0&3'":<+40)'0.')&#)"0"9&'7"%3%"5&'
)<&4"&)'+#3')&#)"0"9&'Y+N"0+0)['6Y&,&5.,&W'0Y&,&'7./%3'N&'*/!9()*(%(+$*&!
$,.2#92!(=>$+&!0.'N".%.$"4+%',&)./,4&)'+)'+',&)/%0'.5'0Y&'Q,.<.)&3'2,3"#+#4&['
!
RQ.!L*#1#4.6!V*6,$&$'.!8#256!$#%!,$'526.!&$3!1Q34,'&5!&'%,-,%,.4!%Q&%!8#256!*.425%!
,$!6,*.'%!;,#5#<,'&5!,91&'%47!RQ.!L*#1#4.6!V*6,$&$'.!8#256!*.<25&%.!%Q.!24.!#W!
'&**3#2%!;&<4!8,%Q,$!%Q.!J%263!)*.&7!RQ.!,$%.$%!#W!%Q.!L*#1#4.6!V*6,$&$'.!,4!%#!
*.62'.!%Q.!.$-,*#$9.$%&5!,91&'%4!*.5&%.6!%#!%Q.!24.!#W!4,$<5.!24.!15&4%,'!'&**3#2%!
;&<4!&$6!1*#9#%.!&!4Q,W%!%#8&*6!%Q.!24.!#W!*.24&;5.!'&**3#2%!;&<47!K%!,4!&$%,',1&%.6!
%Q&%!;3!1*#Q,;,%,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!%Q.!L*#1#4.6!V*6,$&$'.!8#256!
*.62'.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!24.!&$6!,$'*.&4.!%Q.!24.!#W!*.'3'5&;5.!1&1.*!
'&**3#2%!&$6!*.24&;5.!'&**3#2%!;&<4!,$!%Q.!J%263!)*.&7!
!
)55!'&**3#2%!;&<4/!,$'526,$<!4,$<5.!24.!15&4%,'/!*.'3'5&;5.!1&1.*/!&$6!*.24&;5.!
'&**3#2%!;&<4/!Q&-.!%Q.!1#%.$%,&5!%#!&WW.'%!5#'&5!'*..O4!&$6!'#&4%&5!Q&;,%&%4/!42'Q!&4!
J&$!R,9#%.#!"*..O!&$6!%Q.!
L&',W,'!V'.&$/!8Q.$!,91*#1.*!6,41#4&5!#W!;&<4!#''2*47!RQ.4.!;&<4!'&$!;.'#9.!5,%%.*!
%Q&%!.$%.*!%Q.!4%#*9!6*&,$!434%.9!&$6!25%,9&%.53!.$%.*4!'*..O4l*,-.*4!&$6!
.-.$%2&553!'#&4%&5!&$6!9&*,$.!.$-,*#$9.$%47!)4!6.4'*,;.6!,$!%Q.!D#002,E/!5,%%.*!%Q&%!
.$%.*4!'#&4%&5!Q&;,%&%4!'&$!&6-.*4.53!&WW.'%!4.$4,%,-.!41.',.4!%Q&%!,$Q&;,%!'#&4%&5!&$6!
9&*,$.!.$-,*#$9.$%4/!,$'526,$<!4.&!%2*%5.4/!4.&54/!W,4Q/!#%%.*4/!#*!;,*6!41.',.4!&4!&!
*.425%!#W!,$<.4%,#$!#*!.$%&$<5.9.$%7![#8.-.*/!.&'Q!%31.!#W!'&**3#2%!;&<e4!1#%.$%,&5!
%#!;.'#9.!5,%%.*!-&*,.4!&$6!,4!;&4.6!#$!%Q.!$29;.*!#W!;&<4!6,41#4.6!#W!&4!8.55!&4!%Q.!
;&<e4!8.,<Q%!&$6!9&%.*,&57!
!
)4!6.4'*,;.6!,$!J.'%,#$!G7?/!!"+B#80'9#48"2$02+,/!%31,'&5!4,$<5.!24.!15&4%,'!'&**3#2%!
;&<4!&*.!9&6.!W*#9!%Q,$/!5,<Q%8.,<Q%!Q,<Q!6.$4,%3!1#53.%Q35.$.!=[0LH@/!&*.!5.44!
%Q&$!G7GT!9,54!=?7??GGT!,$'Q.4@!%Q,'O/!&$6!8.,<Q!&11*#I,9&%.53!W,-.!%#!$,$.!<*&947!
L#4%D24.!W*#9!&!*.%&,5!4%#*./!&!'24%#9.*!9&3!*.24.!&!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!
&%!Q#9./!;2%!.-.$%2&553!%Q.!;&<4!&*.!6,41#4.6!#W!,$!%Q.!5&$6W,55/!*.'3'5,$<!W&',5,%3/!#*!
6,4'&*6.6!&4!5,%%.*7!)5%Q#2<Q!4#9.!*.'3'5,$<!W&',5,%,.4!Q&$65.!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4/!9#4%!*.M.'%!%Q.9!;.'&24.!%Q.3!'&$!<.%!'&2<Q%!,$!%Q.!9&'Q,$.*3!&$6!
'&24.!9&5W2$'%,#$,$</!#*!&*.!'#$%&9,$&%.6!&W%.*!24.7!V$53!&;#2%!FFf!#W!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!,$!%Q.!U$,%.6!J%&%.4!&*.!'2**.$%53!*.'3'5.6!=UJ!HL)/!G?FF@7!RQ.!
9&M#*,%3!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!.$6!21!,$!&!5&$6W,55!#*!&4!5,%%.*7!H-.$!
%Q#4.!'#55.'%.6!;3!*.'3'5,$<!&$6!4#5,6!8&4%.!%*2'O4!&$6!Q&$65.6!&%!%*&$4W.*!4%&%,#$4!

43. &$6!5&$6W,554!9&3!;5#8!&8&3!&4!5,%%.*!62.!%#!%Q.,*!5,<Q%!8.,<Q%!=Z*..$!",%,.4!
"&5,W#*$,&!^H)/!G?F?@7!J,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%Q&%!;.'#9.!5,%%.*!'&$!.$%.*!
4%#*9!6*&,$4!&$6!8&%.*4Q.64!W*#9!42*W&'.!8&%.*!*2$#WW!#*!9&3!;.!;5#8$!6,*.'%53!
,$%#!%Q.!#'.&$!;3!%Q.!8,$67!
!
)4!6.4'*,;.6!,$!%Q.!D#002,E/!8Q.$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!.$%.*!'#&4%&5!
Q&;,%&%4!9&*,$.!41.',.4!'&$!,$<.4%!%Q.9!#*!9&3!;.'#9.!.$%&$<5.6!,$!%Q.!;&<!=Z*..$!
",%,.4!"&5,W#*$,&!^H)/!
G?F?@7!K$<.4%,#$!#*!.$%&$<5.9.$%!,$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!'&$!*.425%!,$!
'Q#O,$</!*.62'.6!1*#62'%,-,%3/!5&'.*&%,#$4/!25'.*4/!&$6!6.&%Q!%#!4.$4,%,-.!41.',.4!,$!
%Q.!9&*,$.!.$-,*#$9.$%/!,$'526,$<!4.&!%2*%5.4/!4.&54/!W,4Q/!#%%.*4/!#*!;,*6!41.',.47!
!
+.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&54#!Q&-.!%Q.!1#%.$%,&5!%#!.$%.*!%Q.!9&*,$.!
.$-,*#$9.$%!&4!5,%%.*7!+.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&*.!%31,'&553!1*#62'.6!W*#9!
O*&W%!1&1.*!&$6!8.,<Q!&$38Q.*.!W*#9!T?!%#!F??!<*&94/!6.1.$6,$<!#$!8Q.%Q.*!#*!
$#%!%Q.!;&<!,$'526.4!Q&$65.4!=)H)!R.'Q$#5#<3/!G??>@7!)!*.'3'5&;5.!1&1.*!'&**3#2%!
;&<!8.,<Q4!&11*#I,9&%.53!>?f!9#*.!=&11*#I,9&%.53!ST!%#!>?!<*&94@!%Q&$!&!4,$<5.!
24.!15&4%,'!'&**3#2%!;&<7!N.'&24.!#W!%Q.,*!8.,<Q%!&$6!*.'3'5&;,5,%3/!*.'3'5&;5.!1&1.*!
'&**3#2%!;&<4!&*.!5.44!5,O.53!%#!;.'#9.!5,%%.*!'#91&*.6!%#!4,$<5.!24.!15&4%,'!'&**3#2%!
;&<4!=Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7!K$!&66,%,#$/!;.'&24.!*.'3'5&;5.!1&1.*!
'&**3#2%!;&<4!&*.!$#%!&4!*.4,4%&$%!%#!;,#6.<*&6&%,#$/!%Q.3!'*.&%.!5.44!*,4O!#W!
.$%&$<5.9.$%!,W!%Q.3!.$%.*!%Q.!9&*,$.!.$-,*#$9.$%!'#91&*.6!%#!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<47!a,$&553/!&5%Q#2<Q!$#%!&!Q.&5%Q3!W##6!4#2*'./!,W!,$<.4%.6/!&!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<!'&$!;.!'Q.8.6!.WW.'%,-.53!&$6!9&3!;.!6,<.4%.6!;3!9&$3!9&*,$.!
&$,9&54!=Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7!RQ24/!&5%Q#2<Q!*.'3'5&;5.!1&1.*!
'&**3#2%!;&<!5,%%.*!9&3!.$%.*!'#&4%&5!Q&;,%&%4!&$6!&WW.'%!4.$4,%,-.!41.',.4!,$!%Q.!
9&*,$.!.$-,*#$9.$%/!%Q.!,91&'%4!#W!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!8#256!;.!5.44!
%Q&$!%Q#4.!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!!
!
+.24&;5.!'&**3#2%!;&<4!9&3!&54#!;.'#9.!5,%%.*!&$6!.$%.*!%Q.!9&*,$.!.$-,*#$9.$%j!
Q#8.-.*/!%Q.4.!;&<4!6,WW.*!W*#9!4,$<5.!24.!;&<4!,$!%Q.,*!8.,<Q%!&$6!5#$<.-,%37!
+.24&;5.!'&**3#2%!;&<4!'&$!;.!9&6.!W*#9!15&4%,'!#*!&!-&*,.%3!#W!'5#%Q4!42'Q!&4!-,$35!
#*!'#%%#$7!N2,5%!%#!8,%Q4%&$6!9&$3!24.4/!*.24&;5.!'&**3#2%!;&<4!%31,'&553!8.,<Q!&%!
5.&4%!%.$!%,9.4!8Q&%!&$![0LH!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!8.,<Q4!&$6!%8#!%,9.4!
8Q&%!&!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!8.,<Q4/!%Q.*.W#*.!*.4%*,'%,$<!%Q.!9#-.9.$%!;3!
8,$6!=HI'.5L5&4!)24%*&5,&/!G??Sj!",%3!#W!L&4&6.$&/!G??B@7!+.24&;5.!'&**3#2%!;&<4!
&*.!%31,'&553!*.24.6!2$%,5!8#*$!#2%!%Q*#2<Q!8&4Q,$<!#*!925%,15.!24.4/!&$6!%Q.$!
6,41#4.6!.,%Q.*!,$!&!5&$6W,55!#*!*.'3'5,$<!W&',5,%3!=,W!%Q.!9&%.*,&5!,4!*.'3'5&;5.@7!
N.'&24.!#W!%Q.!8.,<Q%!&$6!4%2*6,$.44!#W!%Q.4.!;&<4/!*.24&;5.!'&**3#2%!;&<4!&*.!5.44!
5,O.53!%#!;.'#9.!5,%%.*!#*!%#!;.!'&**,.6!W*#9!5&$6W,554!;3!8,$6!'#91&*.6!%#!4,$<5.!24.!
15&4%,'!&$6!1&1.*!'&**3#2%!;&<4!=Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7!K$!&66,%,#$/!
4,$'.!*.24&;5.!'&**3#2%!;&<4!&*.!41.',W,'&553!6.4,<$.6!%#!;.!24.6!925%,15.!%,9.4/!
%Q.3!&*.!6,41#4.6!#W!5.44!#W%.$!%Q&$!4,$<5.!24.!15&4%,'!&$6!1&1.*!'&**3#2%!;&<47!)4!
42'Q/!*.24&;5.!'&**3#2%!;&<4!&*.!5.44!5,O.53!%#!.$%.*!%Q.!9&*,$.!.$-,*#$9.$%!&4!5,%%.*!
&$6!8#256!<.$.*&553!;.!.I1.'%.6!%#!*.425%!,$!W.8.*!,91&'%4!%#!4.$4,%,-.!41.',.4!%Q&$!
4,$<5.!24.!15&4%,'!#*!*.'3'5&;5.!1&1.*!'&**3#2%!;&<47!

44. !
RQ.!L*#1#4.6!V*6,$&$'.!8#256!*.62'.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!24&<.!;3!&$!
.4%,9&%.6!
>Tf!'#91&*.6!%#!.I,4%,$<!'#$6,%,#$4!=W*#9!AE!9,55,#$!%#!&$!.4%,9&%.6!F7B!9,55,#$!
;&<4!&$$2&553@/!&$6!8#256!*.62'.!%#%&5!'&**3#2%!;&<!24.!;3!&$!.4%,9&%.6!G>f!=%#!
&11*#I,9&%.53!GC!9,55,#$!4,$<5.!24.!15&4%,'!'&**3#2%/!*.'3'5&;5.!1&1.*!'&**3#2%/!&$6!
*.24&;5.!'&**3#2%!;&<4@7!RQ,4!#-.*&55!*.62'%,#$!,$!'&**3#2%!;&<4!8#256!;.!.I1.'%.6!
%#!<.$.*&553!*.62'.!5,%%.*D*.5&%.6!,91&'%4!%#!4.$4,%,-.!41.',.47!RQ.*.W#*./!4.$4,%,-.!
41.',.4!42'Q!&4!4.&!%2*%5.4/!9&99&54/!&$6!;,*6!41.',.4!8#256!;.$.W,%!W*#9!%Q.!
L*#1#4.6!V*6,$&$'./!8Q,'Q!8#256!*.62'.!%Q.!&9#2$%!#W!5,%%.*!%Q&%!'#256!.$%.*!%Q.!
9&*,$.!.$-,*#$9.$%7!RQ.*.!8#256!;.!$#!4,<$,W,'&$%!&6-.*4.!,91&'%!%#!;,#5#<,'&5!
*.4#2*'.47!
I"0"$+0".#'I&+)/,&)l')4!%Q.*.!8#256!;.!$#!4,<$,W,'&$%!&6-.*4.!,91&'%/!9,%,<&%,#$!
,4!$#%!*.X2,*.67!
'
!"$#"5"4+#4&'M50&,'I"0"$+0".#['RQ.*.!8#256!;.!$#!4,<$,W,'&$%!&6-.*4.!,91&'%!%#!
4.$4,%,-.!41.',.4!&4!&!*.425%!#W!%Q.!L*#1#4.6!V*6,$&$'.!8,%Q#2%!9,%,<&%,#$7!
'
4['*/:/%+0"9&';:<+40)[')6#1%.6!&$6!1.$6,$<!4,$<5.!24.!'&**3#2%!;&<!#*6,$&$'.4/!
&4!6.4'*,;.6!,$!R&;5.!ADF!,$!J.'%,#$!A7?/!H,@2"+,:#,0%.'D#002,E/!8#256!'#$%,$2.!%#!
*.62'.!%Q.!&9#2$%!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!&$6!1*#9#%.!&!4Q,W%!%#8&*6!
*.24&;5.!'&**3#2%!;&<47!
RQ,4!4Q,W%!8#256!<.$.*&553!Q&-.!$#!,91&'%!21#$!4.$4,%,-.!;,#5#<,'&5!*.4#2*'.47!!
RQ.*.W#*./!%Q.*.!8#256!;.!$#!4,<$,W,'&$%!&6-.*4.!'2925&%,-.!,91&'%4!%#!;,#5#<,'&5!
*.4#2*'.47!
!
F[C'K,&&#Y./)&'K+)'8:"))".#)!
!
RQ,4!4.'%,#$!&$&53b.4!%Q.!L*#1#4.6!V*6,$&$'.e4!,91&'%4!*.5&%.6!%#!'5,9&%.!'Q&$<.7!RQ.!
&$&534,4!W#'24.4!#$!9&$2W&'%2*,$</!%*&$41#*%&%,#$!&$6!6,41#4&5!#W!'&**3#2%!;&<4/!&4!8.55!&4!
.$.*<3!24.!*.5&%.6!%#!8&4Q,$<!*.24&;5.!'&**3#2%!;&<4/!&4!%Q.4.!&*.!%Q.!5&*<.4%!'#$%*,;2%#*4!
%#!<*..$Q#24.!<&4!.9,44,#$47!
!
F[C[B';:<+40'M#+%-)")'
'
+['Q,.a&40';:<+40)'+#3'I"0"$+0".#'I&+)/,&)['
'
;:<+40'K>KVB'6Y&'Q,.<.)&3'2,3"#+#4&'7./%3'"#4,&+)&'0Y&'#/:N&,'.5'
,&4-4%+N%&'<+<&,'+#3',&/)+N%&'4+,,-./0'N+$)'/)&3'"#'0Y&'!0/3-'M,&+'+#3'7./%3'
0Y&,&5.,&'"#4,&:&#0+%%-'"#4,&+)&'K>K'&:"))".#)'4.:<+,&3'0.'&c")0"#$'
4.#3"0".#)['>.7&9&,W'
&:"))".#)'7./%3'#.0'&c4&&3'0Y,&)Y.%3)'.5')"$#"5"4+#4&[';:<+40)'7./%3'N&'1299!
&:$*!9()*(%(+$*&['
!

45. RQ.!,$%.$%!#W!%Q.!L*#1#4.6!V*6,$&$'.!,4!%#!*.62'.!%Q.!24.!#W!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!&$6!1*#9#%.!%Q.!24.!#W!*.24&;5.!'&**3#2%!;&<4!;3!J%263!)*.&!*.%&,5!
'24%#9.*47!)4!42'Q/!%Q.!L*#1#4.6!V*6,$&$'.!8#256!*.62'.!%Q.!$29;.*!#W!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!%Q&%!&*.!9&$2W&'%2*.6!&$6!24.6!8Q,5.!,$'*.&4,$<!%Q.!$29;.*!
#W!*.'3'5&;5.!1&1.*!&$6!*.24&;5.!'&**3#2%!;&<4!%Q&%!&*.!9&$2W&'%2*.6/!%*&$41#*%.6/!
8&4Q.6!=,$!%Q.!'&4.!#W!*.24&;5.!'&**3#2%!;&<4@!&$6!6,41#4.6!#W!8,%Q,$!%Q.!J%263!
)*.&7!!
!
RQ.!9&$2W&'%2*./!%*&$41#*%/!&$6!6,41#4&5/!#W!.&'Q!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!
<.$.*&%.4!G7>E!%,9.4!9#*.!Z[Z!.9,44,#$4!%Q&$!%Q.!9&$2W&'%2*./!%*&$41#*%/!&$6!
6,41#4&5!#W!&!4,$<5.!24.!15&4%,'!'&**3#2%!;&<7!KW!24.6!#$53!#$'./!%Q.!9&$2W&'%2*./!24.!
&$6!6,41#4&5!#W!&!*.24&;5.!'#%%#$!'&**3#2%!;&<!*.425%4!,$!FAF!%,9.4!%Q.!Z[Z!
.9,44,#$4!#W!&!4,$<5.!24.![0LH!15&4%,'!;&<!=H$-,*#$9.$%!)<.$'3/!G?FF@7!RQ24/!#$!&!
1.*!;&<!;&4,4/!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!Q&-.!5.44!,91&'%!%Q&$!*.'3'5&;5.!
1&1.*!&$6!*.24&;5.!'&**3#2%!;&<47![#8.-.*/!*.24&;5.!'&**3#2%!;&<4!&*.!,$%.$6.6!%#!
;.!24.6!925%,15.!%,9.47!,%Q!*.24.!#W!'&**3#2%!;&<4/!%Q.!%#%&5!$29;.*!#W!'&**3#2%!
;&<4!%Q&%!8#256!;.!9&$2W&'%2*.6/!%*&$41#*%.6!&$6!6,41#4.6!#W!8#256!;.!*.62'.67!
)4!6.4'*,;.6!,$!%Q.!!"+B#80'9#48"2$02+,/!,915.9.$%&%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.!
8#256!*.425%!,$!*.15&'.9.$%!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!'2**.$%53!24.6!,$!%Q.!
J%263!)*.&!=.4%,9&%.6!&%!AE7F!9,55,#$!&$$2&553@!8,%Q!&$!.4%,9&%.6!GS7F!9,55,#$!
*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&$6!GFA/BTE!*.24&;5.!'&**3#2%!;&<4j!&$!.4%,9&%.6!
F7>!9,55,#$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!8#256!*.9&,$!,$!',*'25&%,#$7!
!
)4!&!*.425%!#W!%Q.!,$'*.&4.!,$!*.24&;5.!'&**3#2%!;&<4/!%Q.!L*#1#4.6!V*6,$&$'.!9&3!
5.&6!%#!,$'*.&4.6!.$.*<3!24.!&4!*.24&;5.!'&**3#2%!;&<4!8#256!;.!9&'Q,$.!8&4Q&;5.!
#*!9&6.!W*#9!&!9&%.*,&5!%Q&%!'&$!;.!'5.&$.6!#*!6,4,$W.'%.6/!&4!*.X2,*.6!;3!%Q.!
L*#1#4.6!V*6,$&$'.7!&4Q,$<!*.24&;5.!'&**3#2%!;&<4!24.6!,$!%Q.!J%263!)*.&!8#256!
2%,5,b.!.$.*<3!#*!$&%2*&5!<&4/!6.1.$6,$<!#$!%Q.!%31.!#W!8&4Q,$<!9&'Q,$.!&$6!6*3.*!
24.6/!&$6!%Q.*.W#*.!,$'*.9.$%&553!,$'*.&4.!.$.*<3!1*#62'%,#$!*.5&%.6!Z[Z!
.9,44,#$47!!
!
)4!6,4'244.6!,$!J.'%,#$!S7T/!F02.202#4'%,&'D#"@28#'D)40#:4I',%!,4!&$%,',1&%.6!%Q&%!9#4%!
*.24&;5.!'&**3#2%!;&<!24.*4!8#256!4,9153!,$'526.!*.24&;5.!'&**3#2%!;&<4!,$!8&4Q!
5#&64!%Q&%!8#256!#''2*!8,%Q!#*!8,%Q#2%!%Q.!;&<47!].-.*%Q.5.44/!,$!#*6.*!%#!1*#-,6.!&!
'#$4.*-&%,-.!.4%,9&%.!W#*!,91&'%4!*.5&%.6!%#!.$.*<3!24&<.!*.425%,$<!W*#9!%Q.!
L*#1#4.6!V*6,$&$'./!%Q,4!&$&534,4!&4429.4!%Q&%!%Q.!6.9&$6!W#*!.$.*<3!,$!%Q.!J%263!
)*.&!8#256!,$'*.&4.!,$!#*6.*!%#!9&,$%&,$!%Q.!Q3<,.$.!#W!*.24&;5.!'&**3#2%!;&<4/!
8Q.*.!;&<4!&*.!'5.&$.6!;3!8&4Q,$<!9&'Q,$.!&$6!'5#%Q.4!6*3.*47!)4429,$<!%Q&%!&55!
*.24&;5.!'&**3#2%!;&<4!&*.!9&6.!#W!'#%%#$!&$6!%Q&%!&55!#W!%Q.9!&*.!9&'Q,$.!8&4Q.6!
,$!4.1&*&%.!5#&64!W#*!M24%!*.24&;5.!'&**3#2%!;&<4/!%Q,4!8#256!'*.&%.!&$!&66,%,#$&5!
GFA/BTE!5#&64!#W!5&2$6*3!1.*!3.&*7!
!
R&;5.!S7ADG!1*#-,6.4!&$!.4%,9&%.!#W!Z[Z!.9,44,#$4!%Q&%!8#256!*.425%!W*#9!%Q.!
1*#M.'%.6!'Q&$<.!,$!%Q.!9&O.21!#W!'&**3#2%!;&<4!,$!%Q.!J%263!)*.&!*.425%,$<!W*#9!
,915.9.$%&%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.7!
!

46. 6+N%&'F[CVB'
8)0":+0&3'K,&&#Y./)&'K+)'8:"))".#)'5,.:'*+,,-./0'1+$)'"#'!0/3-'M,&+'
7"0Y';:<%&:&#0+0".#'.5'0Y&'Q,.<.)&3'2,3"#+#4&'
'
I+#/5+40/,&W'()&W'+#3'U")<.)+%'
*+,,-./0'1+$'
6-<&'
Q,.a&40&3'?'
.5'*+,,-./0'
1+$)'()&3'
<&,'P&+,F'
K>K';:<+40'
=+0&'_:&0,"4'
0.#)'*2@8`'
*2@8'<&,'
-&+,'_:&0,"4'
0.#)`'
*2@8'<&,'
Q&,).#'_:&0,"4'
0.#)`T'
J,$<5.!U4.!
L5&4%,'!
F/BTA/TAT!! ?7?S!1.*!F/T??!
;&<4G!!
S>! 7???E!
+.'3'5&;5.!
L&1.*!
GS/?>T/>TE! !?7FFBB!1.*!
F/???!;&<4A!!
G/BCA! 7?SF!
+.24&;5.!! GFA/BTE! T7GS!1.*!F/???!
;&<4S!!
!F/FGF! 7?FCF!
DG(0+0%.' NI<>>' M<Ocd'
H+)Y"#$'
*+,,-./0'
1+$'6-<&'
?'.5'].+3)'
<&,'P&+,C'
8%&40,"4"0-'
()&'Q&,'
].+3'
_iHY`E'
6.0+%'
8%&40,"4"0-'
()&'Q&,'
P&+,'
_iHY`'
*2@8'<&,'
-&+,'
_:&0,"4'
0.#)`'
*2@8'<&,'
Q&,).#'
_:&0,"4'0.#)`'
+.24&;5.!! GFA/BTE! A7BGT!! BFB/??A! G?F! 7??G>!
DG(0+0%.'' ;<=' M<<;e'
6.0+%'K>K'8:"))".#)'5,.:'Q,.<.)&3'2,3"#+#4&'
_I+#/5+40/,&W'()&'+#3'U")<.)+%'m'H+)Y"#$`'
FW@CF' [AbAG'
1Z;H'['1%"(+,'92+R2&#'HTG2@%.#,0'G,204'
D##'?$$#,&2R'9'/+"'#:2442+,4'/+"'#%8-'2,&2@2&G%.':G,282$%.20)'
='3#/#"'0+'Q%(.#';M;'2,'D#802+,';M<I'!"+B#80'9#48"2$02+,M'
;'C%4#&'+,'C+G40#%&'3#$+"0I';<<c]'D%,0%'K+,28%'D2,E.#'G4#'1%"")+G0'C%E'Z"&2,%,8#'W2,%.'HJ3I'Y%,G%")';<==M'
>'=<f'"#&G802+,'*/"+:'%'"%0#'+/'>M>'0+';Mec5'(%4#&'+,'0-#'D8+0024-'3#$+"0'*?H?'Q#8-,+.+E)I';<<O5'%,&'0-#'D%,0%'1.%"%'
1+G,0)'A#E%02@#'9#8.%"%02+,I'Z80+(#"';<=<'(%4#&'+,'H,@2"+,:#,0%.'9#/#,4#'WG,&g4'!%$#"'1%.8G.%0+"M'
N'C%4#&'+,'H,@2"+,:#,0'?E#,8)'h'F,20#&'i2,E&+:'E+@#",:#,0'"#$+"0I';<==M'
O'H:2442+,4'$#"'$#"4+,'%"#'&2@2&#&'()'0-#'#R2402,E'$+$G.%02+,'2,'0-#'D0G&)'?"#%'h'=ceI>>N'*9#$0M'+/'W2,%,8#I'K%)';<=>5'
b'?44G:#4'0-%0'%..'"#G4%(.#'8%"")+G0'(%E4'7+G.&'(#':%8-2,#'7%4-#&M'?44G:#4'0-%0'#%8-'(%E'24'7%4-#&'+,8#'%':+,0-M'
?44G:#4'=e'(%E4'$#"'.+%&'(%4#&'+,'%,'%@#"%E#'.+%&'8%$%820)'+/'d'$+G,&4'$#"'.+%&'%,&'bMd'+G,8#4'$#"'(%E'*%4':#%4G"#&'
+,'d=<;<=<'()'32,8+,'1+,4G.0%,04I'J,8M5M'D##'Q%(.#'NMOPe'2,'D#802+,'NMOI'F02.202#4'%,&'D#"@28#'D)40#:4M'
c'FD'9#$%"0:#,0'+/'H,#"E)6'H,#"E)'H//282#,8)'%,&'3#,#7%(.#'H,#"E)I';<=<M'
d'?44G:2,E'H.#80"2820)'['<MO;N'$+G,&4'1Z;'$#"'Sa-'%,&';I;<NMb'$+G,&4'$#"':#0"28'0+,'*!`jHI';<=>5!
!
)4!4Q#8$!,$!R&;5.!S7ADG/!&5%Q#2<Q!%Q.!%#%&5!$29;.*!#W!'&**3#2%!;&<4!8#256!;.!
*.62'.6!;3!&11*#I,9&%.53!FF!9,55,#$!;&<4!1.*!3.&*/!%Q.!1*#M.'%.6!,$'*.&4.!,$!%Q.!24.!
#W!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&$6!*.24&;5.!;&<4!,4!.I1.'%.6!%#!,$'*.&4.!#-.*&55!
Z[Z!.9,44,#$4!&44#',&%.6!8,%Q!%Q.!9&$2W&'%2*./!%*&$41#*%/!&$6!6,41#4&5!#W!'&**3#2%!
;&<4!;3!&11*#I,9&%.53!?7?C!"VGH!1.*!1.*4#$!1.*!3.&*7!&4Q,$<!&$6!6*3,$<!#W!%Q.!
&66,%,#$&5!*.24&;5.!'&**3#2%!;&<4!*.425%,$<!W*#9!%Q.!1*#1#4.6!#*6,$&$'.!8#256!&54#!
,$'*.&4.!<*..$Q#24.!<&4!.9,44,#$4!;3!&11*#I,9&%.53!?7??G>!9.%*,'!%#$4!"VGH!1.*!
1.*4#$!1.*!3.&*7!!
!

47. K$!%#%&5/!;#%Q!%Q.!,$'*.&4.!,$!"VGH!.9,44,#$4!'#91&*.6!%#!.I,4%,$<!'#$6,%,#$4!&$6!
%Q.!%#%&5!.9,44,#$4!&W%.*!,915.9.$%&%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.!8#256!;.!5.44!
%Q&$!Ff!#W!%Q.!S7C!9.%*,'!%#$4!"VGH!1.*!1.*4#$!1.*!3.&*!4,<$,W,'&$'.!%Q*.4Q#567!
RQ.*.W#*./!,91&'%4!*.5&%.6!%#!%Q.!Z[Z!.9,44,#$4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%7!
a2*%Q.*/!%Q,4!.4%,9&%.!,4!;&4.6!#$!'#$4.*-&%,-.!&44291%,#$4/!'#$4.*-&%,-.53!
&4429,$<!%Q&%!&55!*.24&;5.!'&**3#2%!;&<4!8#256!;.!'#%%#$!;&<4!&$6!%Q&%!*.24&;5.!
'&**3#2%!;&<4!&*.!24.6!TG!%,9.4!1.*!3.&*j!%Q24!%Q.!&'%2&5!Z[Z!.9,44,#$4!9&3!;.!
5.447!
'
I"0"$+0".#'I&+)/,&)['^,%,<&%,#$!,4!$#%!*.X2,*.6!4,$'.!%Q.!,91&'%!8#256!$#%!;.!
4,<$,W,'&$%7!
!
!"$#"5"4+#4&'+50&,'I"0"$+0".#['K91&'%4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%!8,%Q#2%!
9,%,<&%,#$7!
!
N['*/:/%+0"9&';:<+40)7!)6#1%.6!&$6!1.$6,$<!'&**3#2%!;&<!#*6,$&$'.4/!&4!
6.4'*,;.6!,$!
R&;5.!ADF!,$!J.'%,#$!A7?/!H,@2"+,:#,0%.'D#002,E/!8#256!'#$%,$2.!%#!*.62'.!%Q.!
&9#2$%!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!&$6!1*#9#%.!&!4Q,W%!%#8&*6!*.24&;5.!
'&**3#2%!;&<47!J,9,5&*!%#!%Q.!L*#1#4.6!V*6,$&$'./!42'Q!#*6,$&$'.4!8#256!;.!
.I1.'%.6!%#!<.$.*&553!*.62'.!%Q.!#-.*&55!$29;.*!#W!'&**3#2%!;&<4!9&$2W&'%2*.6!&$6!
&44#',&%.6!Z[Z!.9,44,#$47!J,9,5&*!%#!%Q.!L*#1#4.6!V*6,$&$'./!#%Q.*!&6#1%.6!&$6!
1.$6,$<!#*6,$&$'.4!'#256!,$'*.9.$%&553!'Q&$<.!%Q.!Z[Z!.9,44,#$4!&44#',&%.6!8,%Q!
'&**3#2%!;&<!9&$2W&'%2*./!%*&$41#*%/!&$6!6,41#4&57!K$!"&5,W#*$,&/!%Q.*.!&*.!
&11*#I,9&%.53!SF!&6#1%.6/!1*#1#4.6/!#*!1.$6,$<!'&**3#2%!;&<!#*6,$&$'.47![#8.-.*/!
;&4.6!#$!%Q.!,$'*.9.$%&5!,$'*.&4.!,$!1.*!'&1,%&!.9,44,#$4/!%Q.!#%Q.*!#*6,$&$'.4!&*.!
$#%!.I1.'%.6!%#!<.$.*&%.!&!'2925&%,-.!,$'*.&4.!,$!Z[Z!.9,44,#$47!a#*!%Q.4.!*.&4#$4/!
'2925&%,-.!4,<$,W,'&$%!,91&'%4!&44#',&%.6!8,%Q!,915.9.$%&%,#$!#W!'&**3#2%!;&<!
#*6,$&$'.4!%Q*#2<Q#2%!%Q.!4%&%.!&*.!$#%!&$%,',1&%.67!
!
'
F[F'>-3,.%.$-'+#3'H+0&,'X/+%"0-!
!
RQ,4!4.'%,#$!&$&53b.4!%Q.!L*#1#4.6!V*6,$&$'.e4!1#%.$%,&5!%#!&6-.*4.53!&WW.'%!
Q36*#5#<3!&$6!8&%.*!X2&5,%37!
!
F[^[B';:<+40'M#+%-)")'
'
+['Q,.a&40';:<+40)'+#3'I"0"$+0".#'I&+)/,&)'
'
;:<+40'>HXVB'6Y&'Q,.<.)&3'2,3"#+#4&'7./%3'"#4,&:&#0+%%-'"#4,&+)&'0Y&'
#/:N&,'.5',&4-4%+N%&'<+<&,'+#3',&/)+N%&'4+,,-./0'N+$)'/)&3'"#'0Y&'!0/3-'
M,&+W'N/0'0Y&',&3/40".#'"#'0Y&'.9&,+%%'#/:N&,'.5')"#$%&'/)&'<%+)0"4'4+,,-./0'
N+$)'/)&3'"#'0Y&'!0/3-'M,&+'7./%3',&3/4&'0Y&'+:./#0'.5'%"00&,'+#3'7+)0&'

48. &#0&,"#$')0.,:'3,+"#)['6Y")'7./%3'":<,.9&'%.4+%')/,5+4&'7+0&,'j/+%"0-W'+'
02*2%(+($1!&55&40['
!
)4!&!*.425%!#W!%Q.!L*#1#4.6!V*6,$&$'./!&$!.4%,9&%.6!>Tf!#W!%Q.!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!'2**.$%53!24.6!&$$2&553!,$!%Q.!J%263!)*.&!=AE7F!9,55,#$!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!1.*!3.&*@!8#256!;.!*.15&'.6!;3!&$!.4%,9&%.6!GS7F!9,55,#$!
*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&$6!GFA/BTE!*.24&;5.!'&**3#2%!;&<47!);#2%!F7>!
9,55,#$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&*.!.I1.'%.6!%#!*.9&,$!,$!',*'25&%,#$!=*.W.*!
%#!R&;5.!GDG!,$!J.'%,#$!G7?/!!"+B#80'9#48"2$02+,@7!RQ,4!*.1*.4.$%4!&!G>f!*.62'%,#$!,$!
%Q.!#-.*&55!$29;.*!#W!'&**3#2%!;&<4!24.6!&$$2&553!8,%Q,$!%Q.!J%263!)*.&7!!
!
H&'Q!%31.!#W!'&**3#2%!;&<e4!1#%.$%,&5!%#!;.'#9.!5,%%.*!,4!;&4.6!#$!%Q.!;&<e4!8.,<Q%/!
9&%.*,&5!&$6!X2&$%,%3!#W!;&<4!24.67!RQ.!9&M#*,%3!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!
.$6!21!,$!%Q.!5&$6W,55!#*!&4!5,%%.*7!H-.$!%Q#4.!'#55.'%.6!;3!*.'3'5,$<!&$6!4#5,6!8&4%.!
%*2'O4!&$6!Q&$65.6!&%!%*&$4W.*!4%&%,#$4!&$6!5&$6W,554!9&3!;5#8!&8&3!&4!5,%%.*!62.!%#!
%Q.,*!5,<Q%!8.,<Q%!=Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7!J,$<5.!24.!15&4%,'!'&**3#2%!
;&<4!%Q&%!;.'#9.!5,%%.*!9&3!.$%.*!4%#*9!6*&,$4!W*#9!42*W&'.!8&%.*!*2$#WW!#*!9&3!;.!
;5#8$!6,*.'%53!,$%#!5#'&5!8&%.*8&34!;3!%Q.!8,$67!J,$<5.!24.!15&4%,'!'&**3#2%!;&<!
5,%%.*!%Q&%!.$%.*4!%Q.!4%#*9!6*&,$!434%.9!'&$!;5#'O!#*!'5#<!6*&,$4/!*.425%,$<!,$!
'#$%&9,$&%,#$!=Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7!!
!
J.-.*&5!M2*,46,'%,#$4!Q&-.!,$4%&55.6!#*!&*.!,$!%Q.!1*#'.44!#W!,$4%&55,$<!%*&4Q!.I'526.*4!
,$!4%#*9!6*&,$4!%#!1*.-.$%!%*&4Q!W*#9!.$%.*,$<!8&%.*8&347!R*&4Q!.I'526.*4!8#256!
1*.-.$%!4#9.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!5,%%.*!W*#9!1#552%,$<!8&%.*!;#6,.47!
[#8.-.*/!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!9&3!.$%.*!4%#*9!6*&,$4!W*#9!42*W&'.!
8&%.*!*2$#WW/!W*#9!4%#*9!6*&,$4!%Q&%!6#!$#%!Q&-.!%*&4Q!.I'526.*4!,$4%&55.6/!#*!9&3!
;.!;5#8$!6,*.'%53!,$%#!5#'&5!8&%.*8&34!;3!%Q.!8,$67!R*&4Q!.I'526.*4!8#256!$#%!Q.51!
*.62'.!%Q.!&9#2$%!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!5,%%.*!%Q&%!,4!;5#8$!,$%#!5#'&5!
8&%.*8&34!;3!%Q.!8,$67!a2*%Q.*/!&4!$#%.6!,$!%Q.!J.%%,$</!4,$<5.!24.!15&4%,'!'&**3#2%!
;&<4!9&3!'5#<!%*&4Q!.I'526.*4!&$6!*.62'.!%Q.,*!.WW.'%,-.$.447!!
!
N&4.6!#$!4%&%.8,6.!6&%&!%Q&%!'2**.$%53!&59#4%!G?!;,55,#$!4,$<5.!24.!15&4%,'!'&**3#2%!
;&<4!=#*!&11*#I,9&%.53!TAF!;&<4!1.*!1.*4#$@!&*.!24.6!&$$2&553!,$!"&5,W#*$,&!=Z*..$!
",%,.4!"&5,W#*$,&!^H)/!G?F?@/!J%263!)*.&!*.%&,5!.4%&;5,4Q9.$%4!'2**.$%53!24.!&;#2%!
AE7F!9,55,#$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!1.*!3.&*7!RQ.!G>f!*.62'%,#$!,$!%Q.!
#-.*&55!$29;.*!#W!'&**3#2%!;&<4!24.6!8,%Q,$!%Q.!J%263!)*.&!&$6!%Q.!4Q,W%!%#!
*.'3'5&;5.!1&1.*!&$6!*.24&;5.!'&**3#2%!;&<4!&$%,',1&%.6!%#!*.425%!W*#9!
,915.9.$%&%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.!,4!.I1.'%.6!%#!*.62'.!%Q.!1#%.$%,&5!W#*!
'&**3#2%!;&<4!%#!.$%.*!&$6!'5#<!&*.&!4%#*9!6*&,$47!!
!
P,O.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!Q&-.!%Q.!
1#%.$%,&5!%#!.$%.*!4%#*9!6*&,$4!&$6!5#'&5!8&%.*8&34!&4!5,%%.*7![#8.-.*/!62.!%#!%Q.,*!
8.,<Q%!&$6!*.'3'5&;,5,%3/!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&*.!5.44!5,O.53!%#!;.'#9.!
5,%%.*!'#91&*.6!%#!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!=Z*..$!",%,.4!"&5,W#*$,&!^H)/!
G?F?@7!K$!&66,%,#$/!;.'&24.!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&*.!$#%!&4!*.4,4%&$%!%#!
;*.&O6#8$!&4!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!%Q.3!8#256!;.!5.44!5,O.53!%#!;5#'O!#*!

49. '5#<!6*&,$47!RQ.*.W#*./!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!8#256!;.!5.44!5,O.53!%#!*.425%!
,$!4%#*9!6*&,$!;5#'O&<.!#*!'#$%&9,$&%,#$7!!
!
02.!%#!%Q.!8.,<Q%!&$6!4%2*6,$.44!#W!*.24&;5.!'&**3#2%!;&<4!9&6.!W#*!925%,15.!24.4/!
%Q.4.!;&<4!&*.!5.44!5,O.53!%#!;.!5,%%.*.6!#*!'&**,.6!W*#9!5&$6W,554!;3!8,$6!&4!5,%%.*!
'#91&*.6!%#!;#%Q!4,$<5.!24.!15&4%,'!&$6!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!=Z*..$!",%,.4!
"&5,W#*$,&!^H)/!G?F?@7!a2*%Q.*/!;.'&24.!%Q.3!'&$!;.!24.6!925%,15.!%,9.4/!W.8.*!
*.24&;5.!'&**3#2%!;&<4!&*.!$..6.6!'#91&*.6!%#!4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!
RQ.*.W#*./!4Q,W%,$<!%#8&*6!<*.&%.*!24.!#W!*.24&;5.!'&**3#2%!;&<4!8#256!$#%!6.<*&6.!
8&%.*!X2&5,%3!'#91&*.6!%#!.I,4%,$<!'#$6,%,#$4!&4!&!*.425%!#W!5,%%.*/!$#*!8#256!,%!
,$'*.&4.!%Q.!1#%.$%,&5!W#*!4%#*9!6*&,$!;5#'O&<.7!!
!
RQ.!L*#1#4.6!V*6,$&$'.!,4!&$%,',1&%.6!%#!*.62'.!%Q.!#-.*&55!&9#2$%!#W!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!24.6!,$!%Q.!J%263!)*.&!;3!&$!.4%,9&%.6!FF!9,55,#$!;&<4!
&$$2&5537!RQ.*.W#*./!%Q.!L*#1#4.6!V*6,$&$'.!8#256!;.!.I1.'%.6!%#!*.62'.!%Q.!
&9#2$%!#W!5,%%.*!%Q&%!'#256!.$%.*!4%#*9!6*&,$4!&$6!5#'&5!8&%.*8&34/!%Q24!,91*#-,$<!
8&%.*!X2&5,%3/!*.62',$<!9&,$%.$&$'.!&$6!'5.&$21!'#4%4/!&$6!*.62',$<!%Q.!1#%.$%,&5!
W#*!4%#*9!6*&,$!;5#'O&<.7!
!
I"0"$+0".#'I&+)/,&)7!&%.*!X2&5,%3/!4%#*9!6*&,$!#1.*&%,#$/!&$6!&44#',&%.6!
Q36*&25,'!
&$6!Q36*#5#<,'&5!'#$6,%,#$4!8#256!;.$.W,%!W*#9!%Q.!L*#1#4.6!V*6,$&$'.!;.'&24.!
*.62',$<!%Q.!&9#2$%!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!,$!%Q.!J%263!)*.&!8#256!
*.425%!,$!&$!,$'*.9.$%&5!*.62'%,#$!,$!%Q.!&9#2$%!#W!5,%%.*!%Q&%!.$%.*4!%Q.!4%#*9!6*&,$!
434%.9!&$6!5#'&5!8&%.*8&34/!%Q.*.;3!,91*#-,$<!8&%.*!X2&5,%37!RQ.*.W#*./!9,%,<&%,#$!
,4!$#%!*.X2,*.67!
!
!"$#"5"4+#4&'M50&,'I"0"$+0".#['K91&'%4!%#!8&%.*!X2&5,%3!&$6!4%#*9!6*&,$!#1.*&%,#$!
W*#9!5,%%.*!.$%.*,$<!4%#*9!6*&,$4!&$6!5#'&5!8&%.*8&34!8#256!;.!;.$.W,',&5!8,%Q#2%!
9,%,<&%,#$7!
!
;:<+40'>HXV@'M')Y"50'0.7+,3',&/)+N%&'4+,,-./0'N+$)'+#3'<.0&#0"+%'"#4,&+)&'"#'
0Y&'/)&'.5',&4-4%+N%&'<+<&,'4+,,-./0'N+$)'4./%3'"#4,&+)&'0Y&'/)&'.5'4Y&:"4+%)'
+)).4"+0&3'7"0Y'0Y&",'<,.3/40".#W'7Y"4Y'4./%3'3&$,+3&'7+0&,'j/+%"0-'"#').:&'
"#)0+#4&)'+#3'%.4+0".#)['>.7&9&,W'N+$':+#/5+40/,&,)'7./%3'N&',&j/",&3'0.'
+3Y&,&'0.'&c")0"#$',&$/%+0".#)W'"#4%/3"#$'SQU8!'Q&,:"0',&j/",&:&#0)'+#3'0Y&'
*+%"5.,#"+'>&+%0Y'+#3'!+5&0-'*.3&['6Y&,&5.,&W'":<+40)'0.'7+0&,'j/+%"0-'5,.:'
"#4,&+)"#$',&4-4%+N%&'<+<&,'+#3',&/)+N%&'4+,,-./0'N+$'<,.4&))"#$'+40"9"0"&)'
7./%3'N&'1299!&:$*'9()*(%(+$*&['
'
RQ.!9&$2W&'%2*,$<!1*#'.44!W#*!4,$<5.!24.!15&4%,'/!*.'3'5&;5.!1&1.*/!&$6!*.24&;5.!
'&**3#2%!;&<4!2%,5,b.!-&*,#24!'Q.9,'&54!&$6!9&%.*,&547!J,$<5.!24.!15&4%,'!'&**3#2%!
;&<!9&$2W&'%2*.*4!%31,'&553!2%,5,b.!c1*.D1*#62'%,#$!15&4%,'7d!+.'3'5&;5.!1&1.*!
'&**3#2%!;&<!9&$2W&'%2*.*4!9&3!2%,5,b.!-&*,#24!'Q.9,'&54!&$6!9&%.*,&54!&$6!9&3!
&54#!*.X2,*.!%Q.!24.!#W!W.*%,5,b.*4/!1.4%,',6.4!&$6!#%Q.*!'Q.9,'&54!W#*!1*#62'%,#$!#W!
*.4#2*'.4!=42'Q!&4!1251!#*!'#%%#$@/!8Q,'Q!9&3!,$'*.&4.!%Q.!1#%.$%,&5!W#*!Q,<Q.*!

50. $&%2*&5!'#$'.$%*&%,#$4!#W!%*&'.!9.%&54/!;,#6.<*&6&;5.!8&4%.4!=8Q,'Q!&WW.'%!
6,44#5-.6!#I3<.$!5.-.54@/!&$6!.I'.44,-.!9&M#*!$2%*,.$%4!42'Q!&4!$,%*#<.$!&$6!
1Q#41Q#*247!)4!8,%Q!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4/!%Q.!9&$2W&'%2*,$<!1*#'.44!W#*!
*.24&;5.!'&**3#2%!;&<4!'&$!,$-#5-.!%Q.!24.!#W!9&%.*,&54!42'Q!&4!'Q.9,'&54!#*!
W.*%,5,b.*!W#*!%Q.!1*#62'%,#$!#W!*.4#2*'.4!=42'Q!&4!'#%%#$@!%Q&%!,W!*.5.&4.6/!.,%Q.*!
6,*.'%53!%#!&!4%*.&9!#*!,$6,*.'%53!-,&!4%#*9!8&%.*!*2$#WW/!'#256!6.<*&6.!8&%.*!
X2&5,%3!,$!5#'&5!8&%.*!;#6,.47!KW!*.5.&4.6!,$%#!%Q.!.$-,*#$9.$%/!%Q.4.!1#552%&$%4!
'#256!6.<*&6.!8&%.*!X2&5,%37!!
!
RQ.!,$%.$%!#W!%Q.!L*#1#4.6!V*6,$&$'.!,4!%#!*.62'.!%Q.!.$-,*#$9.$%&5!,91&'%4!
*.5&%.6!%#!%Q.!24.!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&$6!1*#9#%.!&!4Q,W%!%#8&*6!%Q.!
24.!#W!*.24&;5.!'&**3#2%!;&<47!RQ.!L*#1#4.6!V*6,$&$'.!,4!&$%,',1&%.6!%#!*.62'.!%Q.!
#-.*&55!$29;.*!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!24.6!,$!%Q.!J%263!)*.&!;3!>Tf!
&$6!*.62'.!%Q.!#-.*&55!$29;.*!#W!'&**3#2%!;&<4!=,$'526,$<!15&4%,'/!*.'3'5&;5.!1&1.*/!
&$6!*.24&;5.@!24.6!8,%Q,$!%Q.!J%263!)*.&!;3!G>f7!RQ.4.!4Q,W%4!,$!%Q.!%31.4!&$6!
&9#2$%4!#W!;&<4!24.6!'#256!1#%.$%,&553!&5%.*!1*#'.44,$<!&'%,-,%,.4!*.5&%.6!%#!;&<!
1*#62'%,#$7!RQ.!9&$2W&'%2*,$<!,91&'%4!#W!.&'Q!;&<!%31.!&$6!%Q.!&$%,',1&%.6!
'Q&$<.4!,$!24.!&*.!6.4'*,;.6!;.5#87!
!
J,$<5.!U4.!L5&4%,'!"&**3#2%!N&<47!Q,5.!%Q.!L*#1#4.6!V*6,$&$'.!8#256!
*.62'.!%Q.!X2&$%,%3!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!24.6!8,%Q,$!%Q.!J%263!)*.&/!
&$!.4%,9&%.6!F7>!9,55,#$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!8#256!4%,55!;.!24.6!&W%.*!%Q.!
L*#1#4.6!V*6,$&$'.!,4!,915.9.$%.67!"#$-.$%,#$&5!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!
&*.!&!1*#62'%!#W!%Q.!1.%*#'Q.9,'&5!,$624%*3!&$6!&*.!%31,'&553!1*#62'.6!;3!
,$6.1.$6.$%!9&$2W&'%2*.*4!%Q&%!12*'Q&4.!-,*<,$!*.4,$!W*#9!1.%*#'Q.9,'&5!
'#91&$,.4!#*!#;%&,$!$#$D-,*<,$!*.4,$!W*#9!*.'3'5.*4!#*!#%Q.*!4#2*'.47!J,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!;.<,$!%Q.!9&$2W&'%2*,$<!1*#'.44!8,%Q!%Q.!'#$-.*4,#$!#W!'*26.!
#,5!#*!$&%2*&5!<&4!,$%#!Q36*#'&*;#$!9#$#9.*4/!8Q,'Q!&*.!%Q.$!W2*%Q.*!1*#'.44.6!
,$%#!1#539.*47!RQ.4.!1#539.*4!&*.!Q.&%.6!%#!W#*9!15&4%,'!*.4,$4/!8Q,'Q!&*.!%Q.$!
;5#8$!%Q*#2<Q!%2;.4!%#!'*.&%.!%Q.!&,*!1#'O.%!#W!%Q.!;&<7!V$'.!'##5.6/!%Q.!15&4%,'!W,59!
,4!4%*.%'Q.6!%#!%Q.!6.4,*.6!4,b.!#W!%Q.!;&<!&$6!'2%!,$%#!,$6,-,62&5!;&<4!=Z*..$!",%,.4!
"&5,W#*$,&!^H)/!G?F?@7!RQ.!15&4%,'!*.4,$!1.55.%4!&*.!&!'#$'.*$!8Q.$!&'',6.$%&553!
*.5.&4.6!=-,&!41,55,$<!,$%#!4%#*9!6*&,$4!62*,$<!24.!#*!%*&$41#*%@!,$%#!&X2&%,'!
.$-,*#$9.$%47!
!
)N!GTB!8&4!.$&'%.6!%#!&66*.44!%Q.4.!'#$'.*$4!;3!,915.9.$%,$<!1*#<*&9!'#$%*#5!
9.&42*.4!%Q&%!*.X2,*.!15&4%,'!9&$2W&'%2*,$</!Q&$65,$</!&$6!%*&$41#*%&%,#$!W&',5,%,.4!
%#!,915.9.$%!;.4%!9&$&<.9.$%!1*&'%,'.4!%#!'#$%*#5!6,4'Q&*<.4!=&'',6.$%&5!*.5.&4.!
W*#9!41,55,$<@!#W!1*.D1*#62'%,#$!15&4%,'47!RQ,4!,$'526.4!'#$%&,$9.$%!434%.94/!'&*.W25!
4%#*&<.!#W!1*.D1*#62'%,#$!15&4%,'4/!&$6!%Q.!24.!#W!'&1%2*.!6.-,'.4!%#!'#55.'%!&$3!
41,5547!
!
L*#62'%4!24.6!,$!%Q.!1*#'.44!%#!9&$2W&'%2*.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!42'Q!
&4!1.%*#5.29!&$6!$&%2*&5!<&4/!&54#!Q&-.!%Q.!1#%.$%,&5!%#!;.!*.5.&4.6!&4!&!*.425%!#W!&$!
&'',6.$%!62*,$<!%*&$41#*%!#*!24.7![#8.-.*/!*.<25&%#*3!&<.$',.4!42'Q!&4!%Q.!HL)!4.%!
W#*%Q!L*.5,9,$&*3!+.9.6,&%,#$!Z#&54!=L+Z4@!W#*!-&*,#24!1#552%&$%4!,$!4#,5/!&,*/!&$6!

51. %&1!8&%.*!=U7J7!HL)!+.<,#$!Kt/!L*.5,9,$&*3!+.9.6,&%,#$!Z#&54!R&;5.4/!]#-.9;.*!
G?FF@7!L+Z!'#$'.$%*&%,#$4!'&$!;.!24.6!%#!4'*..$!1#552%&$%4!,$!.$-,*#$9.$%&5!9.6,&/!
%*,<<.*!W2*%Q.*!,$-.4%,<&%,#$/!&$6!1*#-,6.!,$,%,&5!'5.&$21!<#&54!*.425%,$<!W*#9!&$!
&'',6.$%!#*!41,55!#W!1.%*#5.29!#*!$&%2*&5!<&4!&%!&!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!
9&$2W&'%2*,$<!W&',5,%37!!
!
+.'3'5&;5.!L&1.*!"&**3#2%!N&<4?!RQ.!9&M#*,%3!#W!*.'3'5&;5.!1&1.*!'&**3#2%!
;&<4!&*.!9&6.!W*#9!O*&W%!1&1.*!;&<4/!8Q,'Q!&*.!9&$2W&'%2*.6!W*#9!&!1251!%Q&%!,4!
1*#62'.6!;3!6,<.4%,$<!&!9&%.*,&5!,$%#!,%4!W,;*#24!'#$4%,%2.$%4!-,&!'Q.9,'&5!&$6l#*!
9.'Q&$,'&5!9.&$47!q*&W%!1251!,4!1*#62'.6!;3!'Q.9,'&5!4.1&*&%,#$!#W!'.5525#4.!W*#9!
5,<$,$7!"Q.9,'&54!24.6!,$!%Q,4!1*#'.44!,$'526.!'&24%,'!4#6&4/!4#6,29!Q36*#I,6./!
4#6,29!425W,6./!&$6!'Q5#*,$.!'#91#2$64!=Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7!
L*#'.44.6!&$6!%Q.$!6*,.6!&$6!4Q&1.6!,$%#!5&*<.!*#554/!%Q.!1&1.*!,4!%Q.$!1*,$%.6/!
W#*9.6!,$%#!;&<4/!;&5.6/!&$6!%Q.$!6,4%*,;2%.6!%#!<*#'.*3!4%#*.47!!
!
)5%Q#2<Q!,%!6#.4!$#%!6,*.'%53!6,4'Q&*<.!1#552%&$%4/!%Q.!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!
9&$2W&'%2*,$<!1*#'.44!9&3!2%,5,b.!W.*%,5,b.*4/!1.4%,',6.4!&$6!#%Q.*!'Q.9,'&54!,$!%Q.!
1*#62'%,#$!#W!*.4#2*'.4!42'Q!&4!12517!RQ.4.!1#552%&$%4!9&3!,$'*.&4.!%Q.!1#%.$%,&5!
W#*!Q,<Q.*!'#$'.$%*&%,#$4!#W!%*&'.!9.%&54/!;,#6.<*&6&;5.!8&4%.4!=8Q,'Q!&WW.'%!
6,44#5-.6!#I3<.$!5.-.54@/!&$6!.I'.44,-.!9&M#*!$2%*,.$%4!42'Q!&4!$,%*#<.$!&$6!
1Q#41Q#*24/!'&24,$<!.2%*#1Q,'&%,#$!&4!&!*.425%!#W!42*W&'.!8&%.*!*2$#WW7!)!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<!Q&4!FS!%,9.4!%Q.!,91&'%!#W!#$.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!#$!
.2%*#1Q,'&%,#$/!8Q,'Q!,4!'&24.6!8Q.$!$,%*&%.!&$6!1Q#41Q&%.!&*.!.9,%%.6!,$%#!8&%.*/!
4%,925&%,$<!.I'.44,-.!<*#8%Q!#W!&5<&.!&$6!#%Q.*!&X2&%,'!5,W.!=Z*..$!",%,.4!"&5,W#*$,&!
^H)/!G?F?@7!H2%*#1Q,'&%,#$!*.62'.4!8&%.*!X2&5,%3!&$6!'&24.4!&!-&*,.%3!#W!1*#;5.94!
42'Q!&4!&!5&'O!#W!#I3<.$!,$!%Q.!8&%.*!=Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7![#8.-.*/!
6,*.'%!6,4'Q&*<.4!#W!1#552%&$%4!,$%#!8&%.*4!#W!%Q.!U$,%.6!J%&%.4!&*.!$#%!&55#8.6/!
.I'.1%!,$!&''#*6&$'.!8,%Q!%Q.!]&%,#$&5!L#552%&$%!0,4'Q&*<.!H5,9,$&%,#$!J34%.9!
=]L0HJ@!1*#<*&9!.4%&;5,4Q.6!,$!J.'%,#$!S?G!#W!%Q.!"5.&$!&%.*!)'%!=")@7!!
!
+.'3'5&;5.!1&1.*!'&**3#2%!;&<!9&$2W&'%2*.*4!&*.!*.X2,*.6!%#!'#9153!8,%Q!%Q.!5#'&5!
15&$4!&$6!1#5,',.4!#W!%Q.!J+"N!&$6!%Q.!+Y"N/!8Q,'Q!*.<25&%.!6,4'Q&*<.4!%#!
42*W&'.!&$6!<*#2$68&%.*/!*.<25&%.!8&4%.!6,41#4&5!4,%.4/!&$6!*.X2,*.!'5.&$21!#W!
6,4'Q&*<.4!#W!Q&b&*6#24!9&%.*,&54!&$6!#%Q.*!1#552%&$%47!!
!
+.24&;5.!"&**3#2%!N&<47!+.24&;5.!'&**3#2%!;&<4!'&$!;.!9&$2W&'%2*.6!8,%Q!
-&*,#24!9&%.*,&54/!,$'526,$<!1#53.%Q35.$.!=LH@!15&4%,'/!1#531*#135.$.!=LL@!15&4%,'4/!
925%,15.!%31.4!#W!'5#%Q!='#%%#$!'&$-&4/!$35#$/!.%'7@/!&$6!*.'3'5&;5.!15&4%,'!;.-.*&<.!
'#$%&,$.*4!=1#53.%Q35.$.!%.*.1Q%Q&5&%./!#*!LHR@/!&9#$<!#%Q.*4!=Z*..$!",%,.4!
"&5,W#*$,&!^H)/!G?F?@7!0.1.$6,$<!#$!%Q.!%31.!#W!9&%.*,&5!24.6!,$!%Q.!9&$2W&'%2*,$<!
1*#'.44/!*.24&;5.!'&**3#2%!;&<4!Q&-.!-&*,#24!,91&'%4!%#!8&%.*!X2&5,%37!a#*!.I&915./!
&!4,$<5.!*.24&;5.!5#8!6.$4,%3!1#53.%Q35.$.!=P0LH@!;&<!Q&4!G7B!%,9.4!%Q.!,91&'%!#W!&!
4,$<5.!24.!15&4%,'!'&**3#2%!;&<!#$!.2%*#1Q,'&%,#$!&4!*.425%!#W!%Q.!24.!#W!1#552%&$%4!
%Q&%!&*.!24.6!W#*!9&%.*,&54!,$!%Q.!9&$2W&'%2*,$<!1*#'.44!=Z*..$!",%,.4!"&5,W#*$,&!
^H)/!G?F?@7!K$!&66,%,#$/!#%Q.*!%31.4!#W!*.24&;5.!'&**3#2%!;&<4/!42'Q!&4!'#%%#$!
'&$-&4/!9&3!*.X2,*.!%Q.!24.!#W!W.*%,5,b.*4/!1.4%,',6.4!&$6!#%Q.*!'Q.9,'&54!,$!%Q.!

52. 1*#62'%,#$!1*#'.447!RQ.4.!1#552%&$%4!9&3!,$'*.&4.!%Q.!1#%.$%,&5!W#*!Q,<Q.*!$&%2*&5!
'#$'.$%*&%,#$4!#W!%*&'.!9.%&54/!;,#6.<*&6&;5.!8&4%.4!=8Q,'Q!&WW.'%!6,44#5-.6!#I3<.$!
5.-.54@/!&$6!.I'.44,-.!9&M#*!$2%*,.$%4!42'Q!&4!$,%*#<.$!&$6!1Q#41Q#*24/!%Q24!
'&24,$<!.2%*#1Q,'&%,#$!&4!&!*.425%!#W!42*W&'.!8&%.*!*2$#WW7![#8.-.*/!*.24&;5.!
'&**3#2%!;&<4!&*.!,$%.$6.6!%#!;.!24.6!cQ2$6*.64!#W!%,9.4d!=Z*..$!
",%,.4!"&5,W#*$,&!^H)/!G?F?@j!%Q.*.W#*./!.&'Q!*.24&;5.!'&**3#2%!;&<!8#256!;.!
.I1.'%.6!%#!*.15&'.!Q2$6*.64!#W!4,$<5.!24.!15&4%,'!#*!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4/!
9#*.!%Q&$!#WW4.%%,$<!%Q.!,$'*.&4.6!,91&'%4!&44#',&%.6!8,%Q!.&'Q!,$6,-,62&5!;&<7!)4!
42'Q/!#-.*&55!.2%*#1Q,'&%,#$!,91&'%4!8#256!;.!5#8.*!,$!'#91&*,4#$!%#!4,$<5.!24.!
15&4%,'!&$6!*.'3'5&;5.!1&1.*!'&**3#2%!;&<47!
!
)4!8,%Q!#%Q.*!%31.4!#W!;&<4/!*.24&;5.!'&**3#2%!;&<!9&$2W&'%2*.*4!8#256!$#%!;.!
&55#8.6!%#!6,*.'%53!6,4'Q&*<.!1#552%&$%4!,$%#!8&%.*4!#W!%Q.!U$,%.6!J%&%.4/!.I'.1%!,$!
&''#*6&$'.!8,%Q!%Q.!]L0HJ!1*#<*&9!.4%&;5,4Q.6!,$!J.'%,#$!S?G!#W!%Q.!")7!
+.24&;5.!'&**3#2%!;&<!9&$2W&'%2*.*4!9&3!;.!*.X2,*.6!%#!#;%&,$!&$!cK$6,-,62&5d!
]L0HJ!L.*9,%!&$6l#*!8#256!$..6!%#!&6Q.*.!%#!&$!.I,4%,$<!cZ.$.*&5d!]L0HJ!L.*9,%!
#W!%Q.!5#'&5!&*.&7!)$!K$6,-,62&5!]L0HJ!1.*9,%!*.<25&%.4!&$6!5,9,%4!%Q.!1&*%,'25&*!
6,4'Q&*<.!&%!%Q.!9&$2W&'%2*,$<!W&',5,%37!RQ.!1.*9,%!5,9,%4!&*.!;&4.6!#$!%Q.!%31.!#W!
&'%,-,%3/!$&%2*.!#W!6,4'Q&*<.!&$6!*.'.,-,$<!8&%.*!X2&5,%37!!
!
^&$2W&'%2*,$<!W&',5,%,.4!8#256!$..6!%#!&1153!W#*!&$6!#;%&,$!&!1.*9,%!1*,#*!%#!%Q.!
4%&*%!#W!9&$2W&'%2*,$<!#1.*&%,#$47!K$!&66,%,#$/!&4!1&*%!#W!%Q.!K$6,-,62&5!L.*9,%/!&!
9&$2W&'%2*,$<!W&',5,%3!8#256!;.!*.X2,*.6!%#!9#$,%#*!&$6!*.1#*%!,%4!6,4'Q&*<.4!%#!%Q.!
5#'&5!+.<,#$&5!&%.*!Y2&5,%3!"#$%*#5!N#&*6!%#!6.9#$4%*&%.!%Q&%!%Q.!W&',5,%3e4!
6,4'Q&*<.4!&*.!$#%!,$!-,#5&%,#$!#W!&$3!8&%.*!X2&5,%3!4%&$6&*647!^&$2W&'%2*,$<!
W&',5,%,.4!8#256!&54#!;.!*.X2,*.6!%#!&6Q.*.!%#!.I,4%,$<!Z.$.*&5!L.*9,%4!%Q&%!41.',W3!
5#'&5!6,4'Q&*<.!*.X2,*.9.$%4!W#*!92$,',1&5!4%#*9!8&%.*!&$6!2*;&$!*2$#WW!
6,4'Q&*<.4!
!
)5%Q#2<Q!*.24&;5.!'&**3#2%!;&<4!9&3!2%,5,b.!-&*,#24!9&%.*,&54/!*.24&;5.!'&**3#2%!
;&<!9&$2W&'%2*.4!%Q&%!2%,5,b.!15&4%,'4!,$!%Q.,*!1*#62'%,#$!=W#*!.I&915./!1*#62'%,#$!
#W!PL0H!*.24&;5.!'&**3#2%!;&<4@!8#256!&54#!;.!*.X2,*.6!%#!&6Q.*.!%#!1.$6,$<!
*.X2,*.9.$%4!41.',W,.6!,$!)N!GTB/!8Q,'Q!&66*.44.4!%Q.!*.5.&4.!#W!c1*.D1*#62'%,#$!
15&4%,'4d7!K$!&66,%,#$/!%Q.!"&5,W#*$,&![.&5%Q!&$6!J&W.%3!"#6.!=J.'%,#$!GTTAFDGTTSA7A@!
.4%&;5,4Q.4!&!1*#<*&9!W#*!%Q.!1*.-.$%,#$!#W!&'',6.$%&5!*.5.&4.4!#W!*.<25&%.6!
42;4%&$'.47!,%Q!&6Q.*.$'.!%#![.&5%Q!&$6!J&W.%3!"#6.!J.'%,#$!GTTAFDGTTSA7A/!
*.24&;5.!'&**3#2%!;&<!9&$2W&'%2*,$<!W&',5,%,.4!8#256!;.!*.X2,*.6!%#!1*.1&*.!&$6!
216&%.!&!+,4O!^&$&<.9.$%!L5&$!=+^L@7!RQ,4!8#256!W2*%Q.*!*.62'.!%Q.!1#%.$%,&5!W#*!
&!*.5.&4.!#W!42;4%&$'.4!%Q&%!9&3!;.!8&4Q.6!,$%#!&$6!%Q*#2<Q!%Q.!4%#*9!6*&,$&<.!
434%.94/!5#'&5!8&%.*8&34/!&$6!25%,9&%.53!%#!%Q.!L&',W,'!V'.&$7!RQ.*.!&*./!Q#8.-.*/!
$#!O$#8$!*.24&;5.!'&**3#2%!;&<!9&$2W&'%2*.*4!8,%Q,$!%Q.!J%263!)*.&7!
!
)$%,',1&%.6!"Q&$<.4!,$!"&**3#2%!N&<!U4.7!N&4.6!#$!&!'#4%!*.X2,*.9.$%!#W!&%!
5.&4%!_?7?T!1.*!*.'3'5&;5.!1&1.*!&$6!*.24&;5.!'&**3#2%!;&</',%!,4!&4429.6!,$!%Q,4!
&$&534,4!%Q&%!%Q.!%#%&5!-#529.!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!'2**.$%53!24.6!,$!
%Q.!J%263!)*.&!=&11*#I,9&%.53!AE7F!9,55,#$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!1.*!

53. 3.&*@!8#256!;.!*.15&'.6!;3!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!=GS7F!9,55,#$!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<4@!&$6!*.24&;5.!'&**3#2%!;&<4!=GFA/BTE!*.24&;5.!;&<4@!&4!&!*.425%!
#W!%Q.!L*#1#4.6!V*6,$&$'.7!K%!,4!&4429.6!%Q&%!Tf!#W!%Q.!.I,4%,$<!%#%&5!#W!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!24.6!,$!%Q.!J%263!)*.&!8#256!*.9&,$!,$!24.!4,$'.!%Q.!L*#1#4.6!
V*6,$&$'.!6#.4!$#%!&1153!%#!4#9.!*.%&,5.*4!%Q&%!6,4%*,;2%.!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!=.7<7/!*.4%&2*&$%4@!&$6!%Q.4.!*.%&,5.*4!8#256!'#$%,$2.!%#!6,4%*,;2%.!
4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&W%.*!%Q.!L*#1#4.6!V*6,$&$'.!,4!,915.9.$%.67!
!
)5%Q#2<Q!%Q.!L*#1#4.6!V*6,$&$'.!8#256!;.!.I1.'%.6!%#!,$'*.9.$%&553!,$'*.&4.!
6.9&$6!W#*!%Q.!9&$2W&'%2*.!#W!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&$6!*.24&;5.!
'&**3#2%!;&<4/!,%!8#256!&54#!*.62'.!W#*!%Q.!$29;.*!#W!4,$<5.!24.!15&4%,'!'&**3#2%!
;&<4!24.6!8,%Q,$!%Q.!J%263!)*.&7!,%Q!,915.9.$%&%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'./!
&$!.4%,9&%.6!GC7F!9,55,#$!'&**3#2%!;&<4!=,$'526,$<!4,$<5.!24.!15&4%,'/!*.'3'5&;5.!
1&1.*/!&$6!*.24&;5.!'&**3#2%!;&<4@!8#256!;.!24.6!8,%Q,$!%Q.!J%263!)*.&!r!&!G>f!
*.62'%,#$!'#91&*.6!%#!.I,4%,$<!'#$6,%,#$47!"#$4.X2.$%53/!%Q.!L*#1#4.6!V*6,$&$'.!
8#256!*.62'.!%Q.!#-.*&55!,91&'%4!%#!8&%.*!X2&5,%3!&44#',&%.6!8,%Q!'&**3#2%!;&<!
9&$2W&'%2*,$<7!a2*%Q.*9#*./!&4!6.4'*,;.6!&;#-./!9&$2W&'%2*,$<!W&',5,%,.4!8#256!;.!
*.X2,*.6!%#!&6Q.*.!%#!.I,4%,$<!W.6.*&5/!4%&%.!&$6!5#'&5!*.<25&%,#$47!RQ.*.W#*./!
,91&'%4!%#!8&%.*!X2&5,%3!*.5&%.6!%#!%Q.!1#%.$%,&5!'Q&$<.!#W!1*#'.44,$<!&'%,-,%,.4!&4!&!
*.425%!#W!%Q.!L*#1#4.6!V*6,$&$'.!8#256!$#%!;.!4,<$,W,'&$%7!!
!
I"0"$+0".#'I&+)/,&)7!K91&'%4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%!&$6!9,%,<&%,#$!,4!$#%!
*.X2,*.67!
!
!"$#"5"4+#4&'M50&,'I"0"$+0".#7!K91&'%4!%#!8&%.*!X2&5,%3!*.5&%.6!%#!%Q.!1#%.$%,&5!
'Q&$<.!#W!1*#'.44!&'%,-,%,.4!8#256!;.!5.44!%Q&$!4,<$,W,'&$%!8,%Q#2%!9,%,<&%,#$7!
!
4['*/:/%+0"9&';:<+40)[')6#1%.6!&$6!1.$6,$<!'&**3#2%!;&<!#*6,$&$'.4/!8#256!
'#$%,$2.!%#!*.62'.!%Q.!24.!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!&$6!1*#9#%.!&!4Q,W%!
%#8&*6!*.24&;5.!'&**3#2%!;&<47!)4!6,4'244.6!&;#-./!%Q.!Q36*#5#<3!&$6!8&%.*!X2&5,%3!
,91&'%4!&44#',&%.6!8,%Q!%Q.!L*#1#4.6!V*6,$&$'.!&*.!$#%!'#$4,6.*.6!4,<$,W,'&$%!&$6!
&*.!<.$.*&553!'#$4,6.*.6!;.$.W,',&57!J.-.*&5!#%Q.*!&<.$',.4!,$!%Q.!*.<,#$!Q&-.!.,%Q.*!
&6#1%.6!#*!&*.!'#$4,6.*,$<!4,9,5&*!#*6,$&$'.47!RQ.4.!#*6,$&$'.4!8#256!;.!.I1.'%.6!
%#!*.425%!,$!4,9,5&*!*.62'%,#$4!,$!%Q.!&9#2$%!#W!5,%%.*!.$%.*,$<!4%#*9!6*&,$4/!5#'&5!
'*..O4!#*!8&%.*4Q.64/!%Q.*.;3!,91*#-,$<!8&%.*!X2&5,%37!K$!&66,%,#$/!%Q.!#-.*&55!
*.62'%,#$!,$!'&**3#2%!;&<!9&$2W&'%2*,$<!&$6!24.!.I1.'%.6!%#!#''2*!&4!&!*.425%!#W!
,915.9.$%&%,#$!#W!%Q.4.!#*6,$&$'.4!8#256!;.!.I1.'%.6!%#!<.$.*&553!*.62'.!8&%.*!
X2&5,%3!,91&'%4!&44#',&%.6!8,%Q!'&**3#2%!;&<!9&$2W&'%2*,$<7!K$!&66,%,#$/!&55!
*.'3'5&;5.!1&1.*!&$6!*.24&;5.!'&**3#2%!;&<!9&$2W&'%2*,$<!W&',5,%,.4!8#256!;.!
*.X2,*.6!%#!'#9153!8,%Q!&115,'&;5.!*.<25&%#*3!*.X2,*.9.$%4!1.*%&,$,$<!%#!
1*.4.*-&%,#$!#W!8&%.*!X2&5,%3/!,$'526,$<!)N!GTB!&$6!%Q.!"&5,W#*$,&![.&5%Q!&$6!J&W.%3!
"#6./!&4!6,4'244.6!,$!K91&'%![YDG7!a#*!%Q.4.!*.&4#$4/!'2925&%,-.!4,<$,W,'&$%!
,91&'%4!&44#',&%.6!8,%Q!,915.9.$%&%,#$!#W!'&**3#2%!;&<!#*6,$&$'.4!%Q*#2<Q#2%!%Q.!
*.<,#$!&$6!4%&%.!&*.!$#%!&$%,',1&%.67!
!

54. ^[A'26>8='*8XM'U;!*(!!;2S!''
RQ,4!4.'%,#$!6,4'244.4!&66,%,#$&5!,442.4!*.X2,*.6!W#*!&$&534,4!2$6.*!"HY)/!,$'526,$<!
<*#8%Q!,$62'.9.$%!&$6!4,<$,W,'&$%!,**.-.*4,;5.!.$-,*#$9.$%&5!.WW.'%47!!
^[B'K=2H6>';SU(*;SK';IQM*6!''
RQ.!"HY)!Z2,6.5,$.4!*.X2,*.!&!6,4'244,#$!#W!&!1*#1#4.6!1*#M.'%e4!1#%.$%,&5!%#!W#4%.*!
.'#$#9,'!#*!1#125&%,#$!<*#8%Q/!,$'526,$<!8&34!,$!8Q,'Q!&!1*#M.'%!'#256!*.9#-.!&$!
#;4%&'5.!%#!<*#8%Q7!Z*#8%Q!6#.4!$#%!$.'.44&*,53!'*.&%.!4,<$,W,'&$%!1Q34,'&5!'Q&$<.4!
%#!%Q.!.$-,*#$9.$%7![#8.-.*/!6.1.$6,$<!21#$!%Q.!%31./!9&<$,%26./!&$6!5#'&%,#$!#W!
<*#8%Q/!,%!'&$!*.425%!,$!4,<$,W,'&$%!&6-.*4.!.$-,*#$9.$%&5!.WW.'%47!RQ.*.W#*./!%Q.!
L*#1#4.6!V*6,$&$'.e4!<*#8%QD,$62',$<!1#%.$%,&5!8#256!;.!'#$4,6.*.6!4,<$,W,'&$%!,W!
,%!'#256!*.425%!,$!4,<$,W,'&$%!1Q34,'&5!.WW.'%4!,$!#$.!#*!9#*.!.$-,*#$9.$%&5!,442.!
&*.&47!RQ.!9#4%!'#99#$53!',%.6!.I&915.!#W!Q#8!&$!.'#$#9,'!.WW.'%!9,<Q%!'*.&%.!&!
1Q34,'&5!'Q&$<.!,4!8Q.*.!.'#$#9,'!<*#8%Q!,$!#$.!&*.&!'#256!'*.&%.!;5,<Q%!
'#$6,%,#$4!.54.8Q.*.!;3!'&24,$<!.I,4%,$<!'#91.%,%#*4!%#!<#!#2%!#W!;24,$.44!&$6!%Q.!
;2,56,$<4!%#!;.!5.W%!-&'&$%7!!
^[B[B'84.#.:"4'+#3'Q.</%+0".#'K,.70Y''
RQ.!L*#1#4.6!V*6,$&$'.!8#256!1*#Q,;,%!41.',W,.6!*.%&,5!.4%&;5,4Q9.$%4!8,%Q,$!%Q.!
J%263!)*.&!W*#9!1*#-,6,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%#!'24%#9.*4!&%!%Q.!1#,$%!
#W!4&5.!&$6!'*.&%.!&!9&$6&%#*3!W,-.!'.$%!=_?7?T@!'Q&*<.!W#*!.&'Q!1&1.*!;&<!&$6!
*.24&;5.!;&<!6,4%*,;2%.6!;3!%Q.4.!4%#*.47!RQ.!,$%.$%!#W!%Q.!L*#1#4.6!V*6,$&$'.!,4!%#!
*.62'.!%Q.!.$-,*#$9.$%&5!,91&'%4!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!RQ.!L*#1#4.6!
V*6,$&$'.!8#256!$#%!W&',5,%&%.!$.8!6.-.5#19.$%/!'Q&$<.!5&$6!24.!'#$%*#54!#*!
.$'#2*&<.!1#125&%,#$!<*#8%Q7!!
J,$<5.!24.!15&4%,'!'&**3#2%!;&<!1*#62'%,#$!&$6!6,4%*,;2%,#$!8#256!*.62'.!&4!&!*.425%!
#W!%Q.!L*#1#4.6!V*6,$&$'.7![#8.-.*/!.915#39.$%!1&%%.*$4!,$!%Q.!*.<,#$!8#256!$#%!
;.!&WW.'%.6!&4!%Q.*.!&*.!$#!O$#8$!15&4%,'!;&<!9&$2W&'%2*,$<!W&',5,%,.4!8,%Q,$!%Q.!
J%263!)*.&7!K$!&66,%,#$/!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!24.!,4!&$%,',1&%.6!%#!,$'*.&4.7!
[#8.-.*/!4,9,5&*!%#!4,$<5.!24.!15&4%,'!'&**3#2%!;&<!9&$2W&'%2*,$</!.915#39.$%!
1&%%.*$4!,$!%Q.!*.<,#$!8#256!$#%!;.!&WW.'%.6!;3!%Q.!L*#1#4.6!V*6,$&$'.!&4!%Q.*.!&*.!
$#!O$#8$!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!9&$2W&'%2*,$<!W&',5,%,.4!8,%Q,$!%Q.!J%263!
)*.&7!)54#/!6.9&$6!W#*!*.24&;5.!'&**3#2%!;&<4!'&$!;.!&$%,',1&%.6!%#!,$'*.&4.7!
].-.*%Q.5.44/!,$'*.9.$%&5!,$'*.&4.4!,$!%Q.!24.!#W!*.'3'5&;5.!1&1.*!&$6!*.24&;5.!
'&**3#2%!;&<4!,$!%Q.!*.<,#$!,4!$#%!&$%,',1&%.6!%#!4,<$,W,'&$%53!&WW.'%!5#$<D%.*9!
.915#39.$%!&%!%Q.4.!W&',5,%,.4!#*!,$'*.&4.!%Q.!*.<,#$e4!1#125&%,#$7!!
N&4.6!#$!%Q.!&;#-./!%Q.!L*#1#4.6!V*6,$&$'.!8#256!$#%!;.!<*#8%QD,$62',$<!&4!,%!
8#256!$#%!&WW.'%!5#$<D%.*9!.915#39.$%!#11#*%2$,%,.4!#*!,$'*.&4.!%Q.!*.<,#$e4!
1#125&%,#$7!!+.-.$2.4!<.$.*&%.6!;3!4&5.4!#W!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!8#256!
*.9&,$!8,%Q!%Q.!&WW.'%.6!4%#*.47!RQ.!L*#1#4.6!V*6,$&$'.!8#256!$#%!&WW.'%!.'#$#9,'!
<*#8%Q!&$6/!%Q.*.W#*./!8#256!$#%!;.!4,<$,W,'&$%7!!

55. ^[B[@'=&:.9+%'.5'2N)0+4%&)'0.'K,.70Y''
RQ.!L*#1#4.6!V*6,$&$'.!8#256!1*#Q,;,%!41.',W,.6!*.%&,5!.4%&;5,4Q9.$%4!8,%Q,$!%Q.!
J%263!)*.&!W*#9!1*#-,6,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%#!'24%#9.*4!&%!%Q.!1#,$%!
#W!4&5.!&$6!'*.&%.!&!9&$6&%#*3!W,-.!'.$%!=_?7?T@!'Q&*<.!W#*!.&'Q!1&1.*!;&<!&$6!
*.24&;5.!;&<!6,4%*,;2%.6!;3!%Q.4.!4%#*.47!RQ.!,$%.$%!#W!%Q.!L*#1#4.6!V*6,$&$'.!,4!%#!
*.62'.!%Q.!.$-,*#$9.$%&5!,91&'%4!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!]#!
,91*#-.9.$%4!%#!8&%.*/!4.8.*/!&$6!6*&,$&<.!'#$$.'%,#$!,$W*&4%*2'%2*.!8#256!;.!
$.'.44&*37!]#!$.8!*#&64!8#256!;.!*.X2,*.67!N.'&24.!,915.9.$%&%,#$!#W!%Q.!
L*#1#4.6!V*6,$&$'.!8#256!$#%!,$-#5-.!#*!W&',5,%&%.!'#$4%*2'%,#$/!5&$6!24.!'Q&$<.4!
#*!1#125&%,#$!<*#8%Q/!&$6!8#256!$#%!,$-#5-.!%Q.!.I%.$4,#$!#W!,$W*&4%*2'%2*.!,$%#!
&*.&4!%Q&%!#%Q.*8,4.!'#256!$#%!&''#99#6&%.!<*#8%Q/!,%!8#256!$#%!*.9#-.!&$!
#;4%&'5.!%#!<*#8%Q7!!
^[@';==8J8=!;1]8'8SJ;=2SI8S6M]'8TT8*6!''
RQ.!"HY)!Z2,6.5,$.4!*.X2,*.!%Q&%!HK+4!*.-.&5!%Q.!4,<$,W,'&$%!.$-,*#$9.$%&5!'Q&$<.4!
%Q&%!8#256!#''2*!8,%Q!1*#M.'%!6.-.5#19.$%7!"HY)!&54#!*.X2,*.4!6.',4,#$!9&O.*4!%#!
;&5&$'.!%Q.!;.$.W,%4!#W!&!1*#1#4.6!1*#M.'%!&<&,$4%!,%4!2$&-#,6&;5.!.$-,*#$9.$%&5!
*,4O4!,$!6.%.*9,$,$<!8Q.%Q.*!%#!&11*#-.!&!1*#M.'%7!RQ,4!4.'%,#$!&66*.44.4!$#$D
*.$.8&;5.!*.4#2*'.4/!%Q.!'#99,%9.$%!#W!W2%2*.!<.$.*&%,#$4!%#!%Q.!L*#1#4.6!
V*6,$&$'./!&$6!,**.-.*4,;5.!,91&'%4!&44#',&%.6!8,%Q!%Q.!L*#1#4.6!V*6,$&$'.7!!
RQ.!L*#1#4.6!V*6,$&$'.!8#256!1*#Q,;,%!41.',W,.6!*.%&,5!.4%&;5,4Q9.$%4!,$!%Q.!J%263!
)*.&!W*#9!1*#-,6,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%#!'24%#9.*4!&%!%Q.!1#,$%!#W!
4&5.!&$6!'*.&%.!&!9&$6&%#*3!W,-.!'.$%!=_?7?T@!'Q&*<.!W#*!.&'Q!1&1.*!;&<!6,4%*,;2%.6!
;3!%Q.4.!4%#*.47!RQ.!,$%.$%!#W!%Q.!L*#1#4.6!V*6,$&$'.!,4!%#!*.62'.!%Q.!
.$-,*#$9.$%&5!,91&'%4!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!)4!&$!#*6,$&$'./!%Q.!
1*#M.'%!8#256!$#%!,$'526.!6.-.5#19.$%!#W!&$3!1Q34,'&5!4%*2'%2*.4!#*!,$-#5-.!&$3!
'#$4%*2'%,#$!&'%,-,%37!RQ.*.W#*./!%Q.!L*#1#4.6!V*6,$&$'.!8#256!$#%!&5%.*!.I,4%,$<!
5&$6!24.4!#*!'&24.!,**.-.*4,;5.!1Q34,'&5!&5%.*&%,#$4!*.5&%.6!%#!5&$6!6.-.5#19.$%!#*!
*.4#2*'.!24.7!R#!%Q.!'#$%*&*3/!%Q.!.I1*.44!12*1#4.!#W!%Q.!L*#1#4.6!V*6,$&$'.!,4!%#!
*.62'.!%Q.!8&4%.W25!24.!#W!*.4#2*'.4!&$6!&44#',&%.6!.$-,*#$9.$%&5!,91&'%47!!
RQ.!9&$2W&'%2*.!#W!'&**3#2%!;&<4!&$6!%Q.!&66,%,#$&5!%*2'O!%*,14!&44#',&%.6!8,%Q!
6.5,-.*,$<!'&**3#2%!;&<4!=*.'3'5&;5.!1&1.*!&$6!*.24&;5.!;&<4@!%#!%Q.!J%263!)*.&!
8#256!,$'*.9.$%&553!,$'*.&4.!*.<,#$&5!&,*!1#552%&$%!.9,44,#$47!)4!6,4'244.6!,$!
J.'%,#$!S7F/!),*!Y2&5,%3/!&,*!1#552%&$%!.9,44,#$4!&44#',&%.6!8,%Q!%*2'O!%*,14!8#256!
$#%!;.!,$'*.&4.6!;.3#$6!4,<$,W,'&$'.!%Q*.4Q#5647!K$!&66,%,#$/!&5%Q#2<Q!&%9#41Q.*,'!
&',6,W,'&%,#$!.9,44,#$4!8#256!,$'*.&4.!&4!&!*.425%!#W!%Q.!L*#1#4.6!V*6,$&$'.!62.!
1*,9&*,53!%#!%Q.!,$'*.&4.!,$!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!24./!8,%Q!&6Q.*.$'.!%#!
.I,4%,$<!*25.4!&$6!*.<25&%,#$4!*.<&*6,$<!&,*!1#552%,#$!.9,44,#$4!W*#9!'&**3#2%!;&<!
9&$2W&'%2*,$<!W&',5,%,.4!=,7.7(!HL)!R,%5.!h!1.*9,%!1*#<*&9/!5#'&5!&,*!6,4%*,'%!
*.<25&%,#$4@!,91&'%4!&44#',&%.6!8,%Q!'&**3#2%!;&<!9&$2W&'%2*,$<!8#256!;.!5.44!%Q&$!
4,<$,W,'&$%7!!

56. b[A'M]68=SM6;J8!!
)4!*.X2,*.6!;3!J.'%,#$!FTFGC7C!#W!%Q.!1H_?'`G2&#.2,#4I'%Q,4!4.'%,#$!.I&9,$.4!&!
*&$<.!#W!*.&4#$&;5.!&5%.*$&%,-.4!%#!%Q.!1*#1#4.6!1*#M.'%7!RQ.!W#55#8,$<!W#2*!
&5%.*$&%,-.4!&*.!.-&52&%.6(!
! ! g!!?.0#",%02@#'=6'A+'!"+B#80''!
! ! g!!?.0#",%02@#';6'C%,'+,'D2,E.#'F4#'!.%4028'1%"")+G0'C%E4'%0'%..'3#0%2.'
H40%(.24-:#,04I'!J,8.G&2,E'3#40%G"%,04'!
! ! g!!?.0#",%02@#'>6'K%,&%0+")'1-%"E#'+/'L<M=<'/+"'3#8)8.%(.#'!%$#"'1%"")+G0'C%E4''!
! ! g!!?.0#",%02@#'N6'K%,&%0+")'1-%"E#'+/'L<M;O'/+"'3#8)8.%(.#'!%$#"'1%"")+G0'C%E4''!
H&'Q!&5%.*$&%,-.!&54#!,$'526.4!&!6,4'244,#$!#W!,91&'%4!4Q#256!%Q.!",%3!#W!+.65&$64!
&6#1%!#$.!#W!%Q.4.!&5%.*$&%,-.47!"2**.$%53/!%Q.!",%3!#W!+.65&$64!1*#Q,;,%!41.',W,.6!
*.%&,5.*4!8,%Q,$!%Q.,*!M2*,46,'%,#$4!W*#9!1*#-,6,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!
&$6!'Q&*<.!_?7?T!W#*!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!=4,9,5&*!%#!%Q.!L*#1#4.6!
V*6,$&$'.!,$!%Q,4!HK+@7!RQ,4!4.'%,#$!&54#!,$'526.4!&!6,4'244,#$!#W!%Q.!
c.$-,*#$9.$%&553!421.*,#*!&5%.*$&%,-.d!&9#$<!%Q#4.!4%26,.67!!
'
b[B'M]68=SM6;J8'Bl'S2'Q=2R8*6'M]68=SM6;J8!
b[B[B'U&)4,"<0".#!
RQ.!$#!1*#M.'%!&5%.*$&%,-.!&4429.4!%Q&%!%Q.!J,$<5.!U4.!"&**3#2%!N&<!+.62'%,#$!
V*6,$&$'.!,4!$#%!&6#1%.6!#*!,915.9.$%.67!J,$<5.!24.!15&4%,'!&$6!1&1.*!'&**3#2%!
;&<4!8#256!'#$%,$2.!%#!;.!&-&,5&;5.!W*..D#WD'Q&*<.!%#!'24%#9.*4!&%!9#4%!*.%&,5!
4%#*.4!%Q*#2<Q#2%!%Q.!J%263!)*.&7!K$!&66,%,#$/!*.24&;5.!'&**3#2%!;&<4!8#256!
'#$%,$2.!%#!;.!&-&,5&;5.!W#*!12*'Q&4.!;3!*.%&,5.*47!RQ24/!,%!,4!&4429.6!%Q&%!%Q.!24.!#W!
'&**3#2%!;&<4!&%!J%263!)*.&!*.%&,5!4%#*.4!8#256!$#%!'Q&$<.!'#91&*.6!%#!'2**.$%!
'#$6,%,#$47!RQ.!",%3!#W!+.65&$64!8#256!'#$%,$2.!%#!1*#Q,;,%!41.',W,.6!*.%&,5.*4!W*#9!
1*#-,6,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&$6!'Q&*<.!_?7?T!W#*!*.'3'5&;5.!1&1.*!
;&<47!
b[B[@';:<+40'M#+%-)")!
]#!'Q&$<.!,$!.$-,*#$9.$%&5!'#$6,%,#$4!8#256!#''2*!2$6.*!%Q,4!&5%.*$&%,-.!;.'&24.!
$.,%Q.*!&!;&$!$#*!&!9&$6&%#*3!'Q&*<.!W#*!4,$<5.!24.!'&**3#2%!;&<4!8#256!;.!
,91#4.67!RQ24/!J%263!)*.&!*.%&,5!'24%#9.*4!8#256!Q&-.!$#!,$'.$%,-.!%#!&5%.*!%Q.,*!
.I,4%,$<!'&**3#2%!;&<!1*.W.*.$'.47!N.'&24.!'#$6,%,#$4!8#256!$#%!'Q&$<.!2$6.*!%Q,4!
&5%.*$&%,-./!$#$.!#W!%Q.!,91&'%4!,$!%Q.!4%26,.6!,442.!&*.&4!&44#',&%.6!8,%Q!%Q.!
L*#1#4.6!V*6,$&$'.!8#256!#''2*7!RQ,4!&5%.*$&%,-.!8#256!$#%!,$'*.&4.!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<!24.!&$6!&44#',&%.6!&%9#41Q.*,'!&',6,W,'&%,#$!.9,44,#$47!RQ,4!

57. &5%.*$&%,-.!8#256!$#%!*.425%!,$!%Q.!'Q&$<.!,$!%*2'O!%*,14!&44#',&%.6!8,%Q!6.5,-.*,$<!
*.24&;5.!;&<4!&$6!1&1.*!;&<4!%Q&%!8#256!#''2*!8,%Q!,915.9.$%&%,#$!#W!%Q.!
L*#1#4.6!V*6,$&$'.!&$6!8#256!%Q.*.W#*.!.5,9,$&%.!%Q.!&,*!X2&5,%3!.9,44,#$4!&$6!
<*..$Q#24.!<&4!=Z[Z@l'5,9&%.!'Q&$<.!,91&'%4!&44#',&%.6!8,%Q!42'Q!%*,147!K$!
&66,%,#$/!;.'&24.!%Q.!]#!L*#M.'%!&5%.*$&%,-.!8#256!$#%!W&',5,%&%.!&!4Q,W%!%#!*.24&;5.!
;&<4/!%Q.!L*#1#4.6!V*6,$&$'.e4!5.44!%Q&$!4,<$,W,'&$%!,91&'%4!*.5&%.6!%#!8&%.*!&$6!
8&4%.8&%.*!6.9&$6!W*#9!8&4Q,$<!*.24&;5.!;&<4!8#256!;.!.5,9,$&%.67!V$!%Q.!#%Q.*!
Q&$6/!%Q,4!&5%.*$&%,-.!8#256!$#%!&'Q,.-.!%Q.!L*#1#4.6!V*6,$&$'.e4!;.$.W,',&5!.WW.'%4!
*.5&%,-.!%#!5,%%.*!*.62'%,#$/!Q36*#5#<3/!&$6!8&%.*!X2&5,%3!%Q&%!&*.!.I1.'%.6!%#!*.425%!
W*#9!,915.9.$%&%,#$!#W!%Q.!L*#1#4.6!V*6,$&$'.7!a2*%Q.*/!;.'&24.!4,$<5.!24.!15&4%,'!
;&<4!8#256!$#%!;.!*.62'.6/!%Q,4!&5%.*$&%,-.!9&3!*.425%!,$!<*.&%.*!,91&'%4!*.5&%.6!%#!
;,#5#<,'&5!*.4#2*'.4!=4.$4,%,-.!41.',.4@!,$!'#91&*,4#$!%#!%Q.!L*#1#4.6!V*6,$&$'.!&4!
%Q.*.!8#256!;.!<*.&%.*!&9#2$%4!#W!5,%%.*!%Q&%!'#256!&WW.'%!%Q.4.!41.',.47!J#5,6!8&4%.!
<.$.*&%,#$!8#256!$#%!'Q&$<.!W*#9!.I,4%,$<!'#$6,%,#$4j!%Q.*.W#*./!%Q.*.!8#256!;.!$#!
,91&'%!*.5&%.6!%#!4#5,6!8&4%.!W&',5,%,.47!
]#!'Q&$<.!,$!.$-,*#$9.$%&5!'#$6,%,#$4!8#256!#''2*!,$!%Q.!"#2$%3!#W!J&$!
N.*$&*6,$#!#*!%Q.!",%3!#W!+.65&$64!2$6.*!%Q,4!&5%.*$&%,-.7!N.'&24.!%Q.4.!
M2*,46,'%,#$4!Q&-.!&5*.&63!,$4%,%2%.6!4,$<5.!24.!'&**3#2%!;&<!*.62'%,#$!#*6,$&$'.4/!
.9,44,#$4!*.5&%.6!%#!&%9#41Q.*,'!.9,44,#$4!&$6!%*2'O!%*,14!9&3!Q&-.!,$'*.&4.6!
'#91&*.6!%#!1*.DV*6,$&$'.!'#$6,%,#$47!K$!&66,%,#$/!%Q.!;.$.W,',&5!.WW.'%4!*.5&%,-.!%#!
5,%%.*!*.62'%,#$/!Q36*#5#<3/!&$6!8&%.*!X2&5,%3!&*.!&5*.&63!#''2**,$<7!V-.*&55!4#5,6!
8&4%.!<.$.*&%,#$!=,$!%.*94!#W!8.,<Q%@!9&3!Q&-.!&54#!,$'*.&4.6!'#91&*.6!%#!1*.D
#*6,$&$'.!'#$6,%,#$4!62.!%#!&!48,%'Q!%#8&*6!<*.&%.*!24.!*.'3'5&;5.!1&1.*!'&**3#2%!
;&<47!
'
b[@'M]68=SM6;J8'@l'1MS'2S'!;SK]8'(!8'Q]M!6;*'*M==P2(6'1MK!'M6'M]]'
=86M;]'8!6M1];!>I8S6!W';S*](U;SK'=8!6M(=MS6!!
b[@[B'U&)4,"<0".#!
J,9,5&*!%#!%Q.!L*#1#4.6!V*6,$&$'./!%Q,4!&5%.*$&%,-.!8#256!1*#Q,;,%!J%263!)*.&!
*.%&,5.*4!W*#9!1*#-,6,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%#!'24%#9.*4!&%!%Q.!1#,$%!#W!
4&5.!&$6!'*.&%.!&!9&$6&%#*3!_?7?T!'Q&*<.!1.*!1&1.*!;&<7![#8.-.*/!2$6.*!%Q,4!
&5%.*$&%,-./!%Q.!V*6,$&$'.!8#256!&1153!%#!&55!'&%.<#*,.4!#W!*.%&,5!.4%&;5,4Q9.$%4/!
,$'526,$<!*.4%&2*&$%4/!W&4%!W##6/!&$6!%&O.D#2%!W##6!.4%&;5,4Q9.$%47!U$6.*!%Q,4!
)5%.*$&%,-./!%Q.!V*6,$&$'.!8#256!.I'526.!<&*9.$%!;&<4!=&!;&<!8,%Q#2%!Q&$65.4!%Q&%!
,4!6.4,<$.6!%#!;.!15&'.6!#-.*!&*%,'5.4!#W!'5#%Q,$<!#$!&!Q&$<.*!42'Q!&4!%Q#4.!
6,4%*,;2%.6!;3!6.1&*%9.$%!4%#*.4!#*!6*3!'5.&$.*4@7!)4!&!*.425%/!2$6.*!%Q,4!&5%.*$&%,-./!
$#!4,$<5.!24.!15&4%,'!'&**3!#2%!;&<4!8#256!;.!6,4%*,;2%.6!&%!%Q.!1#,$%!#W!4&5.!
&$38Q.*.!8,%Q,$!%Q.!J%263!)*.&/!&!*.62'%,#$!#W!F??f!#W!15&4%,'!;&<4!=>T/GGC/ATS!
15&4%,'!;&<4@7!K$!'#$%*&4%/!%Q.!L*#1#4.6!V*6,$&$'.!,4!.I1.'%.6!%#!*.62'.!%Q.!$29;.*!
#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!6,4%*,;2%.6!8,%Q,$!%Q.!J%263!)*.&!;3!>Tf!#*!
>?/SCT/?AC!15&4%,'!;&<47!K%!,4!'#$4.*-&%,-.53!&4429.6!%Q&%!%Q.!&66,%,#$&5!4,$<5.!24.!

58. 15&4%,'!'&**3#2%!;&<4!%Q&%!8#256!;.!*.9#-.6!2$6.*!%Q,4!&5%.*$&%,-.!8#256!;.!
*.15&'.6!;3!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4/!42'Q!%Q&%/!,$!%#%&5/!E?f!#W!%Q.!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!'2**.$%53!24.6!8,%Q,$!%Q.!J%263!)*.&!8#256!;.!*.15&'.6!;3!
*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&$6!A?f!8#256!;.!*.15&'.6!;3!*.24&;5.!'&**3#2%!
;&<47!
RQ.!%#%&5!.4%,9&%.!#W!;&<!24.!2$6.*!%Q,4!&5%.*$&%,-.!W#*!%Q.!J%263!)*.&/!'#91&*.6!%#!
%Q.!L*#1#4.6!V*6,$&$'./!,4!4299&*,b.6!,$!R&;5.!CDF7!
6+N%&'bVB'
'8)0":+0&3'*+,,-./0'1+$'()&l'Q,.<.)&3'2,3"#+#4&'9&,)/)'M%0&,#+0"9&'@'
1+$'6-<&' *+,,-'2/0'1+$)'()&3'
M##/+%%-'
Q,.<.)&3'2,3"#+#4&'
*+,,-'2/0'1+$)'()&3'
M##/+%%-'
M%0&,#+0"9&'@'
J,$<5.!U4.!L5&4%,'! F/BTA/TAT! ?!
+.'3'5&;5.!L&1.*! GS/?>T/>TE! GT/>S>/S>G!
+.24&;5.! GFA/BTE! GFA/BTE!
6.0+%' @bWBbCWCFD' @bWBbCWCFD'
='
3#/#"'0+'Q%(.#';M;'2,'D#802+,';M<I'!"+B#80'9#48"2$02+,''
';'
C%4#&'+,'%44G:$02+,4'+/',+'$.%4028'(%E'G4#'"#:%2,2,EI'c<f'8+,@#"42+,'+/'0-#'@+.G:#'+/'
#R2402,E'$.%4028'(%E'G4#'2,'0-#'D0G&)'?"#%'0+'$%$#"'(%E4'%,&'><f'8+,@#"42+,'0+'"#G4%(.#'(%E4'
*(%4#&'+,'O;'G4#4'$#"')#%"5M!
U$6.*!%Q,4!&5%.*$&%,-./!%Q.!.I,4%,$<!;&$!#$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&%!
41.',W,.6!*.%&,5.*4!,$!%Q.!",%3!#W!+.65&$64!8#256!;.!.I1&$6.6!%#!&1153!%#!&55!
'&%.<#*,.4!#W!*.%&,5!.4%&;5,4Q9.$%4!=,7.7/!'5#%Q,$</!Q&*68&*.!#*!41#*%,$<!4%#*.4!8Q,'Q!
&*.!$#%!,$'526.6!,$!%Q.!L*#1#4.6!V*6,$&$'.@!&$6!*.4%&2*&$%4/!W&4%!W##6/!&$6!4#9.!
%&O.D#2%!W##6!.4%&;5,4Q9.$%47!J,$<5.!24.!15&4%,'!'&**3#2%!;&<!24.!8#256!;.!*.62'.6!
%#!$#$.7!J,$<5.!24.!15&4%,'!'&**3#2%!;&<!24.!8#256!6.'5,$.!;3!&11*#I,9&%.53!G!
9,55,#$!;&<4!&$6!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!24.!8#256!,$'*.&4.!;3!%Q.!4&9.!
&9#2$%7!
'
b[C'M]68=SM6;J8'Cl'IMSUM62=P'*>M=K8'2T'nA[BA'T2='=8*P*]M1]8'QMQ8='
*M==P2(6'1MK!!
b[C[B'U&)4,"<0".#!
RQ,4!&5%.*$&%,-.!8#256!'#$%,$2.!%#!1*#Q,;,%!J%263!)*.&!*.%&,5!.4%&;5,4Q9.$%4!W*#9!
1*#-,6,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!%#!'24%#9.*4!&%!%Q.!1#,$%!#W!4&5./!;2%!

59. 8#256!,$'*.&4.!%Q.!9&$6&%#*3!'Q&*<.!W#*!&!*.'3'5&;5.!1&1.*!'&**3#2%!;&<!W*#9!
_?7?T!%#!_?7F?7!)4!&!*.425%!#W!%Q.!_?7?T!9&$6&%#*3!'Q&*<.!,$'*.&4.!1.*!*.'3'5&;5.!
1&1.*!'&**3#2%!;&</!,%!,4!&$%,',1&%.6!%Q&%!%Q,4!&5%.*$&%,-.!8#256!W2*%Q.*!1*#9#%.!%Q.!
24.!#W!*.24&;5.!'&**3#2%!;&<4!4,$'.!'24%#9.*4!8#256!;.!6.%.**.6!W*#9!12*'Q&4,$<!
*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!62.!%#!%Q.!&66,%,#$&5!'#4%7!
N&4.6!#$!&!'#4%!*.X2,*.9.$%!#W!_?7F?!1.*!;&</!,%!,4!&4429.6!%Q&%!%Q.!%#%&5!-#529.!#W!
4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!'2**.$%53!24.6!,$!%Q.!J%263!)*.&!=&11*#I,9&%.53!
>T7G!9,55,#$!15&4%,'!;&<4!1.*!3.&*@!8#256!;.!*.15&'.6!;3!&11*#I,9&%.53!A?f!1&1.*!
;&<4!&$6!CTf!*.24&;5.!;&<4!2$6.*!)5%.*$&%,-.!A!='#91&*.6!%#!CTf!1&1.*!&$6!A?f!
*.24&;5.!&4429.6!W#*!%Q.!L*#1#4.6!V*6,$&$'.@7!K%!,4!&4429.6!%Q&%!Tf!#W!.I,4%,$<!
4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!8#256!*.9&,$!,$!24./!4,9,5&*!%#!%Q.!L*#1#4.6!
V*6,$&$'./!4,$'.!%Q,4!&5%.*$&%,-.!8#256!$#%!&1153!%#!4#9.!*.%&,5.*4!8Q#!6,4%*,;2%.!
4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!=.7<7/!*.4%&2*&$%4/!'5#%Q,$</!Q&*68&*.!&$6!41#*%,$<!
<##64!4%#*.4@7!R&;5.!CDG!4299&*,b.4!%Q.!&$%,',1&%.6!'Q&$<.4!,$!;&<!6,4%*,;2%,#$!&4!&!
*.425%!#W!&!_?7F?!9&$6&%#*3!'Q&*<.!2$6.*!%Q,4!&5%.*$&%,-.!'#91&*.6!%#!%Q.!_?7?T!
'Q&*<.!2$6.*!%Q.!L*#1#4.6!V*6,$&$'.7!
6+N%&'bV@'
'8)0":+0&3'*+,,-./0'1+$'()&l'Q,.<.)&3'2,3"#+#4&'9&,)/)'M%0&,#+0"9&'C'
1+$'6-<&' *+,,-'2/0'1+$)'()&3'
M##/+%%-'
Q,.<.)&3'2,3"#+#4&'
*+,,-'2/0'1+$)'()&3'
M##/+%%-'
M%0&,#+0"9&'C'
J,$<5.!U4.!L5&4%,'! F/BTA/TAT! F/BTA/TAT!
+.'3'5&;5.!L&1.*! GS/?>T/>TE! FF/FGF/GF?!
+.24&;5.! GFA/BTE! SCA/ATC!
6.0+%' @bWBbCWCFD' BCWFCEWBAB'
='
3#/#"'0+'Q%(.#';M;'2,'D#802+,';M<I'!"+B#80'9#48"2$02+,M';'
C%4#&'+,'%,'%44G:$02+,'+/'Of'#R2402,E'
$.%4028'(%E'G4#'2,'D0G&)'?"#%'0+'"#:%2,I'><f'8+,@#"42+,'+/'0-#'@+.G:#'+/'#R2402,E'$.%4028'(%E'
G4#'2,'D0G&)'?"#%'0+'$%$#"'(%E4'%,&'bOf'8+,@#"42+,'0+'"#G4%(.#'(%E4'*(%4#&'+,'O;'G4#4'$#"'
)#%"5M!
U$6.*!%Q,4!&5%.*$&%,-./!%Q.!9&$6&%#*3!'Q&*<.!#W!_?7?T!W#*!1&1.*!;&<4!,$!%Q.!",%3!#W!
+.65&$64!8#256!,$'*.&4.!%#!_?7F?7!RQ.!$29;.*!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!
24.6!,$!%Q.!",%3!#W!+.65&$64!8#256!*.9&,$!%Q.!4&9./!;2%!%Q.!$29;.*!#W!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<4!,4!.I1.'%.6!%#!6.'*.&4.!;3!FG/>ES/ESE!&$6!%Q.!$29;.*!#W!
*.24&;5.!'&**3#2%!;&<4!8#256!,$'*.&4.!;3!GS>/S>>!&$$2&553!=;&4.6!#$!TG!24.4@7!
'
'

60. b[F'M]68=SM6;J8'Fl'IMSUM62=P'*>M=K8'2T'nA[@^'T2='=8*P*]M1]8'QMQ8='
*M==P2(6'1MK!!
b[F[B'U&)4,"<0".#!
RQ,4!&5%.*$&%,-.!8#256!'#$%,$2.!%#!1*#Q,;,%!J%263!)*.&!*.%&,5!.4%&;5,4Q9.$%4!W*#9!
1*#-,6,$<!4,$<5.!24.!15&4%,'!;&<4!%#!'24%#9.*4!&%!%Q.!1#,$%!#W!4&5./!;2%!8#256!
,$'*.&4.!%Q.!9&$6&%#*3!'Q&*<.!W#*!&!*.'3'5&;5.!1&1.*!;&<!W*#9!_?7?T!%#!_?7GT7!)4!&!
*.425%!#W!%Q.!_?7G?!9&$6&%#*3!'Q&*<.!,$'*.&4.!1.*!1&1.*!;&</!,%!,4!&$%,',1&%.6!%Q&%!
%Q,4!&5%.*$&%,-.!8#256!W2*%Q.*!1*#9#%.!%Q.!24.!#W!*.24&;5.!;&<4!4,$'.!'24%#9.*4!
8#256!;.!6.%.**.6!W*#9!12*'Q&4,$<!1&1.*!;&<4!62.!%#!%Q.!&66,%,#$&5!'#4%7!
N&4.6!#$!&!'#4%!*.X2,*.9.$%!#W!_?7GT!1.*!;&</!,%!,4!&4429.6!%Q&%!%Q.!%#%&5!-#529.!#W!
15&4%,'!;&<4!'2**.$%53!24.6!,$!%Q.!J%263!)*.&!=&11*#I,9&%.53!>T7G!9,55,#$!4,$<5.!24.!
15&4%,'!'&**3#2%!;&<4!1.*!3.&*@!8#256!;.!*.15&'.6!;3!&11*#I,9&%.53!Cf!*.'3'5&;5.!
1&1.*!'&**3#2%!;&<4!&$6!B>f!*.24&;5.!'&**3#2%!;&<4!2$6.*!)5%.*$&%,-.!S!
='#91&*.6!%#!CTf!*.'3'5&;5.!1&1.*!'&**3#2%!&$6!A?f!*.24&;5.!'&**3#2%!&4429.6!
W#*!%Q.!L*#1#4.6!V*6,$&$'.@7!K%!,4!&4429.6!%Q&%!Tf!#W!.I,4%,$<!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!8#256!*.9&,$!,$!24./!4,9,5&*!%#!%Q.!L*#1#4.6!V*6,$&$'./!4,$'.!%Q,4!
&5%.*$&%,-.!8#256!$#%!&1153!%#!4#9.!*.%&,5.*4!8Q#!6,4%*,;2%.!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4!=.7<7/!*.4%&2*&$%4@7!R&;5.!CDA!4299&*,b.4!%Q.!&$%,',1&%.6!'Q&$<.4!,$!
'&**3#2%!;&<!6,4%*,;2%,#$!&4!&!*.425%!#W!&!_?7GT!9&$6&%#*3!'Q&*<.!2$6.*!%Q,4!
&5%.*$&%,-.!'#91&*.6!%#!%Q.!_?7?T!'Q&*<.!2$6.*!%Q.!L*#1#4.6!V*6,$&$'.7!
6+N%&'bVC'
'8)0":+0&3'*+,,-./0'1+$'()&l'Q,.<.)&3'2,3"#+#4&'9&,)/)'M%0&,#+0"9&'F'
1+$'6-<&' *+,,-'2/0'1+$)'()&3'
M##/+%%-'
Q,.<.)&3'2,3"#+#4&'
*+,,-'2/0'1+$)'()&3'
M##/+%%-'
M%0&,#+0"9&'F'
J,$<5.!U4.!L5&4%,'! F/BTA/TAT! F/BTA/TAT!
+.'3'5&;5.!L&1.*! GS/?>T/>TE! G/GGS/GSG!
+.24&;5.! GFA/BTE! CAS/SSG!
6.0+%' @bWBbCWCFD' FWGB@W@BD'
='
3#/#"'0+'Q%(.#';M;'2,'D#802+,';M<I'!"+B#80'9#48"2$02+,M'
';'
C%4#&'+,'%,'%44G:$02+,'+/'Of'#R2402,E'$.%4028'(%E'G4#'2,'D0G&)'?"#%'0+'"#:%2,I'bf'
8+,@#"42+,'+/'0-#'@+.G:#'+/'#R2402,E'$.%4028'(%E'G4#'2,'D0G&)'?"#%'0+'$%$#"'(%E4'%,&'def'
8+,@#"42+,'0+'"#G4%(.#'(%E4'*(%4#&'+,'O;'G4#4'$#"')#%"5M'
RQ.!.I,4%,$<!9&$6&%#*3!'Q&*<.!#W!_?7?T!W#*!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!8#256!
,$'*.&4.!%#!_?7GT!,$!%Q.!",%3!#W!+.65&$64!2$6.*!%Q,4!&5%.*$&%,-.7!RQ.!$29;.*!#W!
4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!24.6!,$!%Q.!",%3!#W!+.65&$64!8#256!*.9&,$!%Q.!4&9./!

61. ;2%!%Q.!$29;.*!#W!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!24.6!&$$2&553!8,%Q,$!%Q.!J%263!
)*.&!8#256!6.'*.&4.!;3!&11*#I,9&%.53!GF/BEF/EFT!;&<4!&$6!%Q.!$29;.*!#W!*.24&;5.!
'&**3#2%!;&<4!24.6!&$$2&553!8#256!,$'*.&4.!;3!&11*#I,9&%.53!SG?/TBT!;&<4!=;&4.6!
#$!TG!24.4@7!
b[^'M]68=SM6;J8!'*2S!;U8=8U'1(6'=8R8*68U!
)4!*.X2,*.6!;3!J.'%,#$!FTFGC7C!='@!#W!%Q.!1H_?'`G2&#.2,#4I'%Q,4!42;4.'%,#$!,6.$%,W,.4!
%Q#4.!&5%.*$&%,-.4!%Q&%!8.*.!'#$4,6.*.6!;2%!*.M.'%.6!;3!%Q.!5.&6!&<.$'3!;.'&24.!
%Q.3!.,%Q.*!6,6!$#%!9..%!%Q.!#;M.'%,-.4!#W!%Q.!1*#M.'%!#*!'#256!$#%!&-#,6!#*!
42;4%&$%,&553!5.44.$!#$.!#*!9#*.!#W!%Q.!4,<$,W,'&$%!.WW.'%47!1H_?'`G2&#.2,#4'i!FTFGC7C!
*.X2,*.4!%Q&%!&$!HK+!'#$4,6.*!&!*&$<.!#W!*.&4#$&;5.!&5%.*$&%,-.4!%#!&!1*#1#4.6!
1*#M.'%!%Q&%!8#256!W.&4,;53!#;%&,$!9#4%!#W!%Q.!;&4,'!#;M.'%,-.4!#W!%Q.!1*#M.'%/!;2%!
8#256!&-#,6!#*!42;4%&$%,&553!5.44.$!&$3!#W!%Q.!4,<$,W,'&$%!.WW.'%4!#W!%Q.!1*#M.'%7!RQ.!
#;M.'%,-.4!#W!%Q.!L*#1#4.6!V*6,$&$'.!&*.!#2%5,$.6!,$!J.'%,#$!G7?/!!"+B#80'9#48"2$02+,M!
a#2*!&5%.*$&%,-.4!8.*.!'#$4,6.*.6!&$6!8.*.!*.M.'%.6!&4!,$W.&4,;5.!W#*!$#%!9..%,$<!
%Q.!;&4,'!1*#M.'%!#;M.'%,-.47!
A+'1-%"E#'/+"'!%$#"'C%E4'
RQ.!W,*4%!&5%.*$&%,-.!%Q&%!8&4!'#$4,6.*.6/!;2%!*.M.'%.6!,4!%#!;&$!4,$<5.!24.!15&4%,'!
'&**3#2%!;&<4/!;2%!$#%!'Q&*<.!W#*!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!&%!*.%&,5.*4!,$!%Q.!
J%263!)*.&7!RQ,4!&5%.*$&%,-.!8&4!*.M.'%.6!;.'&24.!,%!8#256!$#%!6.%.*!'24%#9.*4!W*#9!
24,$<!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4/!8Q,'Q!9&3!Q&-.!<*.&%.*!,91&'%4!*.5&%.6!%#!&,*!
X2&5,%3/!Z[Z!.9,44,#$4/!&$6!8&%.*!X2&5,%3!%Q&$!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!#$!&!
1.*!;&<!;&4,47!K$!&66,%,#$/!%Q,4!&5%.*$&%,-.!8#256!$#%!&'Q,.-.!%Q.!L*#1#4.6!
V*6,$&$'.e4!#;M.'%,-.!#W!1*#9#%,$<!&!4Q,W%!%#8&*6!%Q.!24.!#W!*.24&;5.!'&**3#2%!;&<4!
;3!*.%&,5!'24%#9.*4!%#!&4!<*.&%!&!6.<*..!&4!8#256!#''2*!8,%Q!%Q.!L*#1#4.6!
V*6,$&$'.7!
HR8#$02+,'/+"'C2+&#E"%&%(.#'+"'1+:$+40%(.#'C%E4'
RQ.!4.'#$6!&5%.*$&%,-.!'#$4,6.*.6/!;2%!25%,9&%.53!*.M.'%.6/!,$-#5-.6!,$'#*1#*&%,$<!
&$!.I'.1%,#$!,$%#!%Q.!L*#1#4.6!V*6,$&$'.!W#*!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!9&6.!
8,%Q!;,#6.<*&6&;5.!#*!'#91#4%&;5.!&66,%,-.47!RQ,4!&5%.*$&%,-.!8&4!*.M.'%.6!W*#9!
'#$4,6.*&%,#$!;.'&24.!%Q.!.$-,*#$9.$%&5!,91&'%4!&44#',&%.6!8,%Q!24,$<!
;,#6.<*&6&;5.!&$6!'#91#4%&;5.!&66,%,-.4!&*.!2$'.*%&,$!&%!%Q,4!%,9.7!+.4.&*'Q.*4!&%!
"&5,W#*$,&!J%&%.!U$,-.*4,%3!"Q,'#!+.4.&*'Q!a#2$6&%,#$!%.4%.6!%Q.!6.<*&6&%,#$!#W!
;,#6.<*&6&;5.!;&<4!,$!'#91#4%,$<!'#$6,%,#$4/!&$6!W#2$6!%Q&%!%Q.3!6,6!$#%!6.<*&6.!
="K^N!G??Ej!Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7!a2*%Q.*9#*./!%Q.4.!;&<4!*.62'.!
%Q.!X2&5,%3!#W!*.'3'5.6!15&4%,'4!8Q.$!,$%*#62'.6!,$%#!%Q.!*.'3'5,$<!4%*.&9!&$6!4#!
924%!;.!O.1%!4.1&*&%.!%#!&-#,6!'#$%&9,$&%,$<!%Q.!*.'3'5,$<!4%*.&9!="K^N!G??Ej!
Z*..$!",%,.4!"&5,W#*$,&!^H)/!G?F?@7!RQ.*.W#*./!,%!,4!2$'5.&*!8Q&%!.$-,*#$9.$%&5!
,91&'%4!9&3!;.!&44#',&%.6!8,%Q!48,%'Q,$<!%#!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!9&6.!
8,%Q!;,#6.<*&6&;5.!&66,%,-.4!#*!8&%.*!4#52;5.!;&<47!K$!&66,%,#$/!%Q,4!&5%.*$&%,-.!
8#256!$#%!&'Q,.-.!%Q.!#;M.'%,-.4!#W!1*#9#%,$<!&!4Q,W%!%#8&*6!%Q.!24.!#W!*.24&;5.!

62. '&**3#2%!;&<4!;3!*.%&,5!'24%#9.*4/!&$6!&-#,6,$<!5,%%.*!&$6!%Q.!&44#',&%.6!&6-.*4.!
,91&'%4!%#!4%#*9!8&%.*!434%.94/!&.4%Q.%,'4!&$6!%Q.!9&*,$.!.$-,*#$9.$%!&44#',&%.6!
8,%Q!4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!
K%,&%0#&'3#0%2.#"'J,8#,02@#4'
RQ.!%Q,*6!&5%.*$&%,-.!'#$4,6.*.6/!;2%!25%,9&%.53!*.M.'%.6/!8#256!*.X2,*.!*.%&,5.*4!%#!
#WW.*!,$'.$%,-.4!W#*!'24%#9.*4!%#!24.!*.24&;5.!'&**3#2%!;&<4!=42'Q!&4!1&3,$<!
'24%#9.*4@!*&%Q.*!%Q&$!;&$$,$<!4,$<5.!24.!15&4%,'!'&**3#2%!;&<47!Q,5.!%Q,4!
&5%.*$&%,-.!9&3!6.%.*!4#9.!'24%#9.*4!W*#9!24,$<!4,$<5.!24.!15&4%,'!&$6!1&1.*!
'&**3#2%!;&<4/!,%!9&3!$#%!1*#9#%.!%Q.!4Q,W%!%#!*.24&;5.!'&**3#2%!;&<4!;3!*.%&,5!
'24%#9.*4!&4!.WW.'%,-.53!&$6!8#256!15&'.!&!W,$&$',&5!;2*6.$!#$!J%263!)*.&!*.%&,5.*47!
!.%4028'C%E'9#$+420'!"+E"%:'
RQ.!W#2*%Q!&5%.*$&%,-.!'#$4,6.*.6/!;2%!*.M.'%.6!8#256!,$-#5-.!.4%&;5,4Q,$<!&!6.1#4,%!
1*#<*&9!W#*!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!,$4%.&6!#W!&!;&$7!RQ,4!6.1#4,%!1*#<*&9!
8#256!;.!4,9,5&*!%#!"&5,W#*$,&e4!cN#%%5.!N,55d!%Q&%!15&'.4!&!_?7?T!%#!_?7F?!'Q&*<.!#$!
;.-.*&<.!'#$%&,$.*4!%Q&%!,4!*.%2*$.6!%#!'24%#9.*4!8Q.$!%Q.3!*.'3'5.!%Q.,*!
'#$%&,$.*47!RQ,4!&5%.*$&%,-.!8&4!*.M.'%.6!;.'&24.!,%!8#256!$#%!&'Q,.-.!%Q.!
V*6,$&$'.e4!#;M.'%,-.4/!,$'526,$<!6.%.**,$<!%Q.!24.!#W!*.'3'5&;5.!1&1.*!'&**3#2%!;&<4!
&$6!1*#9#%,$<!&!4Q,W%!%#8&*6!%Q.!24.!#W!*.24&;5.!'&**3#2%!;&<47!RQ#2<Q!)N!GSS>!
'2**.$%53!*.X2,*.4!&115,'&;5.!*.%&,5!4%#*.4!%#!1*#-,6.!&!15&4%,'!;&<!'#55.'%,#$!;,$/!
#$53!&;#2%!FFf!#W!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!&*.!&'%2&553!*.'3'5.67!a2*%Q.*/!
&5%Q#2<Q!4#9.!*.'3'5,$<!W&',5,%,.4!Q&$65.!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4/!9#4%!
*.'3'5,$<!W&',5,%,.4!*.M.'%!4,$<5.!24.!15&4%,'!'&**3#2%!;&<4!;.'&24.!%Q.3!<.%!'&2<Q%!,$!
%Q.!9&'Q,$.*3!&$6!'&24.!9&5W2$'%,#$,$<!#*!&*.!'#$%&9,$&%.6!&W%.*!24.!=Z*..$!",%,.4!
"&5,W#*$,&!^H)/!G?F?j!N#24%.&6/!G??E@7!
b[b'8SJ;=2SI8S6M]]P'!(Q8=;2='M]68=SM6;J8!
RQ,4!42;4.'%,#$!,6.$%,W,.4!%Q.!.$-,*#$9.$%&553!421.*,#*!&5%.*$&%,-.7!)5%.*$&%,-.!S/!
%Q.!^&$6&%#*3!"Q&*<.!#W!_?7GT!W#*!L&1.*!N&<4/!8#256!;.!'#$4,6.*.6!%Q.!
.$-,*#$9.$%&553!421.*,#*!&9#$<!%Q.!&5%.*$&%,-.4!&4!,%!8#256!Q&-.!<*.&%.*!#-.*&55!
;.$.W,%4!'#91&*.6!%#!%Q.!L*#1#4.6!V*6,$&$'.7!K91&'%4!%#!&,*!X2&5,%3!8#256!;.!
(#,#/282%.'2$6.*!)5%.*$&%,-.!S7!RQ,4!&5%.*$&%,-.!8#256!&54#!*.62'.!4#5,6!8&4%.!,$!&*.&!
5&$6W,554!'#91&*.6!%#!%Q.!L*#1#4.6!V*6,$&$'./!;2%!8#256!,$'*.&4.!8&%.*!24.!&$6!
8&4%.8&%.*!<.$.*&%,#$!'#91&*.6!%#!%Q.!L*#1#4.6!V*6,$&$'.!W#*!8&4Q,$<!*.24&;5.!
;&<47![#8.-.*/!8&%.*!&$6!8&4%.8&%.*!,91&'%4!8#256!*.9&,$!.#44'0-%,'42E,2/28%,0M'
RQ,4!&5%.*$&%,-.!8#256!&54#!9..%!%Q.!1*#M.'%!#;M.'%,-.4/!,$'526,$<(!
! ! g!!3#&G82,E'0-#'#,@2"+,:#,0%.'2:$%804'"#.%0#&'0+'42,E.#'G4#'$.%4028'8%"")+G0'
(%E4I'4G8-'%4'2:$%804'0+'(2+.+E28%.'"#4+G"8#4'*2,8.G&2,E':%"2,#'#,@2"+,:#,045I'
7%0#"'TG%.20)'%,&'G02.202#4'*4+.2&'7%40#'#TG2$:#,0'%,&'/%82.202#45'!
! ! g!!9#0#""2,E'0-#'G4#'+/'$%$#"'8%"")+G0'(%E4'()'"#0%2.'8G40+:#"4'!

63. ! ! g!!!"+:+02,E'%'4-2/0'0+7%"&'0-#'G4#'+/'"#G4%(.#'8%"")+G0'(%E4'()'"#0%2.'
8G40+:#"4'!
! ! g!!3#&G82,E'0-#'%:+G,0'+/'42,E.#'G4#'$.%4028'8%"")+G0'(%E4'2,'.%,&/2..'@+.G:#4'!
! ! g!!3#&G82,E'.200#"'%,&'0-#'%44+82%0#&'%&@#"4#'2:$%804'0+'40+":7%0#"'4)40#:4I'
%#40-#0284'!%,&':%"2,#'%,&'0#""#40"2%.'#,@2"+,:#,04'!!
)5%.*$&%,-.!A/!%Q.!^&$6&%#*3!"Q&*<.!#W!_?7F?!W#*!L&1.*!N&<4/!8#256!&54#!;.!
.$-,*#$9.$%&553!421.*,#*!'#91&*.6!%#!%Q.!L*#1#4.6!V*6,$&$'.!&4!,%!8#256!'*.&%.!&!
(#,#/282%.'.WW.'%!8,%Q!*.41.'%!%#!&,*!1#552%,#$7![#8.-.*/!)5%.*$&%,-.!S!8#256!Q&-.!
45,<Q%53!<*.&%.*!;.$.W,%4!8,%Q!*.41.'%!%#!&,*!1#552%,#$/!<*..$Q#24.!<&4!.9,44,#$4/!&$6!
4#5,6!8&4%.!<.$.*&%,#$7!!R&;5.!CDS!'#91&*.4!%Q.!,91&'%4!W#*!.&'Q!#W!%Q.!&5%.*$&%,-.4!
8,%Q!%Q.!,91&'%4!&44#',&%.6!8,%Q!%Q.!L*#1#4.6!V*6,$&$'.7!!
6+N%&'bVF';:<+40'*.:<+,").#)'.5'M%0&,#+0"9&)'7"0Y'0Y&'Q,.<.)&3'2,3"#+#4&!
;))/&' M%0'Bl'S.'
Q,.a&40'
M%0'@l'1+#'.#'
Q%+)0"4'1+$)'+0'
+%%'=&0+"%'
8)0+N%")Y:&#0)W'
"#4%['
=&)0+/,+#0)'
M%0'Cl'
I+#3+0.,-'
*Y+,$&'.5'
nA[BA'5.,'
Q+<&,'1+$)'
M%0'Fl'
I+#3+0.,-'
*Y+,$&'.5'
nA[@^'5.,'
Q+<&,'1+$)'
),*!Y2&5,%3! x! slD! x! x!
N,#5#<,'&5!
+.4#2*'.4!
D! slx! slx! slx!
Z*..$Q#24.!
Z&4!H9,44,#$4!
slx! x! x! x!
[36*#5#<3l!
&%.*!Y2&5,%3!
D! slx! slx! slx!
U%,5,%,.4!&$6!
J.*-,'.!
J34%.94!
x! slD! D!&$6!x! D!&$6!x!
k'DG$#"2+"'0+'0-#'$"+$+4#&'$"+B#80'*"#&G8#&'.#@#.'+/'2:$%805''
P'J,/#"2+"'0+'0-#'$"+$+4#&'$"+B#80'*2,8"#%4#&'.#@#.'+/'2:$%805''
[''k'4.2E-0.)'4G$#"2+"'0+'0-#'$"+$+4#&'$"+B#80'2,'+,#'+"':+"#'%4$#804I'(G0',+0'42E,2/28%,0.)'
4G$#"2+"''
[''P'4.2E-0.)'2,/#"2+"'0+'0-#'$"+$+4#&'$"+B#80'2,'+,#'+"':+"#'%4$#804I'(G0',+0'42E,2/28%,0.)'
2,/#"2+"'
'['D2:2.%"'.#@#.'+/'2:$%80'0+'0-#'$"+$+4#&'$"+B#80'

64. G[A'=8T8=8S*8!'MSU'=8Q2=6'Q=8QM=8=!'
G[B'=8T8=8S*8!'
)H)!R.'Q$#5#<37!G??T7!!"+$+4#&'!.%4028'C%E'l#@)'P'HR0#,&#&'J:$%80'?44#44:#,0'
=J'#%%,4Q!+.1#*%@/!G??T7!
)H)!R.'Q$#5#<37!G??>7!D2,E.#'F4#'C%E'D0G&)7!a,$&5!*.1#*%!1*.1&*.6!W#*!%Q.!.54Q!
)44.9;53!Z#-.*$9.$%/!)2<24%!G??>7!
N&3!)*.&!),*!Y2&5,%3!^&$&<.9.$%!0,4%*,'%7!k2$.!G?F?/!U16&%.6!^&3!G?FF7!1H_?'?2"'
_G%.20)'`G2&#.2,#4M'+.%*,.-.6!a*#9(!
Q%%1(ll8887;&&X967<#-lyl9.6,&la,5.4lL5&$$,$<fG?&$6fG?+.4.&*'Ql"HY)lN)
)Y!^0fG?"HY)fG?Z2,6.5,$.4z0.'.9;.*fG?G?F?7&4QI7!
N&3!)*.&!),*!Y2&5,%3!^&$&<.9.$%!0,4%*,'%7!)6#1%.6!J.1%.9;.*!G?F?7!N&3!)*.&!G?F?!
"5.&$!),*!L5&$7!
N#24%.&6!"#$425%,$<!&$6!)44#',&%.4!P%67!G??E7!l2/#'1)8.#'?44#44:#,0'/+"'Q-"##'Q)$#4'
+/'`"+8#")'C%E4'h'3#8)8.%(.#'!.%4028]'1+:$+40%(.#I'C2+&#E"%&%(.#'!.%4028]'%,&'
3#8)8.#&I'3#8)8.%(.#'!%$#"7!L*.1&*.6!W#*!%Q.!L*#<*.44,-.!N&<!)55,&$'.7!
"&5,W#*$,&!),*!L#552%,#$!"#$%*#5!VWW,'.*4!)44#',&%,#$7!1H_?'%,&'1.2:%0#'1-%,E#6'
?&&"#442,E'1.2:%0#'1-%,E#'0-"+GE-'1%.2/+",2%'H,@2"+,:#,0%.'_G%.20)'?80'*1H_?57!
k&$2&*3!G??B7!
"&5,W#*$,&!),*!+.4#2*'.4!N#&*67!)2<24%!G?FA7!?2"'_G%.20)'D0%,&%"&4'%,&'?"#%'
9#42E,%02+,4M')-&,5&;5.!#$5,$.!&%(!Q%%1(ll8887&*;7'&7<#-l6.4,<l6.4,<7Q%9!
"&5,W#*$,&!),*!+.4#2*'.4!N#&*67!U16&%.6!k2$.!E/!G?FG7!?:(2#,0'?2"'_G%.20)'
D0%,&%"&47!)-&,5&;5.!#$5,$.!&%(!Q%%1(ll8887&*;7'&7<#-l*.4.&*'Ql&&X4l&&X4G716W!
"&5,W#*$,&!),*!+.4#2*'.4!N#&*67!)1*,5!G?FG7!`"##,-+G4#'`%4'J,@#,0+")'9%0%'h';<;<'
H:2442+,4'W+"#8%407!)-&,5&;5.(!
Q%%1(ll8887&*;7'&7<#-l''l,$-.$%#*3l6&%&lW#*.'&4%7Q%9!
"&5,W#*$,&!),*!+.4#2*'.4!N#&*67!G?F?/!G?FF/!u!G?FG!),*!Y2&5,%3!0&%&!J%&%,4%,'47!Q+$'
W+G"'DG::%")M'+.%*,.-.6!a*#9(!Q%%1(ll8887&*;7'&7<#-l&6&9l,$6.I7Q%95!
"&5,W#*$,&!),*!+.4#2*'.4!N#&*67!V'%#;.*!G?FF7!`"##,-+G4#'`%4'J,@#,0+")'9%0%'h';<<<'
0+';<<e7!+.%*,.-.6!a*#9(!Q%%1(ll8887&*;7'&7<#-l''l,$-.$%#*3l6&%&l6&%&7Q%97!
"&5,W#*$,&!),*!+.4#2*'.4!N#&*67!U16&%.6!^&*'Q!G??>7!V#%@)P9G0)'^#-28.#'J&.2,E'
H:2442+,'3#&G802+,'!"+E"%:7!)-&5,&;5.!&%(!Q%%1(ll8887&*;7'&7<#-l941*#<l%*2'OD
,65,$<l%*2'OD!,65,$<7Q%9!
"&5,W#*$,&!),*!+.4#2*'.4!N#&*67!U16&%.6!^&*'Q!GG/!G?FG7!Q"G8S'%,&'CG4'3#EG.%02+,Mm'

65. Z,P3+%&'V#%@)P9G0)'92#4#.'^#-28.#4'*J,PF4#5'3#EG.%02+,7!)-&5,&;5.!&%(!
Q%%1(ll8887&*;7'&7<#-l941*#<l#$*6,.4.5l#$*6,.4.57Q%9!
"&5,W#*$,&!),*!+.4#2*'.4!N#&*67!G?FF7!.;4,%.(!0,.4.5!u![.&5%Q!+.4.&*'Q7!+.%*,.-.6!
W*#9(!Q%%1(ll8887&*;7'&7<#-l*.4.&*'Ql6,.4.5l6,.4.5DQ.&5%Q7Q%9!
"&5,W#*$,&!),*!+.4#2'.4!N#&*67a.;*2&*3!G?FF7!?$$"+@#&'3#E2+,%.'`"##,-+G4#'`%4'
H:2442+,'3#&G802+,'Q%"E#04M'Q%%1(ll8887&*;7'&7<#-l''l4;AETlW,$&5z%&*<.%4716W!
"&5,W#*$,&!"5,9&%.!)'%,#$!+.<,4%*3!="")+@!Z.$.*&5!+.1#*%,$<!L*#%#'#5I'3#$+"02,E'
H,020)Pa2&#'`"##,-+G4#'`%4'H:2442+,4/!h.*4,#$!A7F/!k&$2&*3!G??>7!
"&5,W#*$,&!"5,9&%.!"Q&$<.!".$%.*7!^&*'Q!G??C7!D8#,%"2+4'+/'1.2:%0#'1-%,E#'2,'
1%.2/+",2%6'?,'Z@#"@2#77!"H"DT??DG??TDFBCDJa7!
"&5,W#*$,&!"5,9&%.!"Q&$<.!".$%.*7!^&3!G??>7!Q-#'J:$%804'+/'D#%Pl#@#.'324#'+,'0-#'
1%.2/+",2%'1+%407!"H"DT??DG??>D?GSDa7!
"&5,W#*$,&!0.1&*%9.$%!#W!a,$&$'.7!^&3!G?FA7!cHDT!L#125&%,#$!&$6![#24,$<!H4%,9&%.4!
W#*!",%,.4/!"#2$%,.4/!&$6!%Q.!J%&%./!k&$2&*3!F/!G?FFDG?FA/!8,%Q!G?F?!N.$'Q9&*O7d!
"&5,W#*$,&!0&1&*%9.$%!#W!+.4#2*'.4!+.'3'5,$<!&$6!+.'#-.*3!="&5+.'3'5.@7!J#5,6!
&4%.!K$W#*9&%,#$!J34%.9!=JKJ@7!)''.44.6!)2<24%!G?FA7!+.%*,.-.6!W*#9(!
Q%%1(ll8887'&5*.'3'5.7'&7<#-lJa&',5,%,.4l0,*.'%#*3lJ.&*'Q7&41I7!
"&5,W#*$,&!0&1&*%9.$%!#W!+.4#2*'.4!+.'3'5,$<!&$6!+.'#-.*3!="&5+.'3'5.@7!
k2*,46,'%,#$!0,-.*4,#$l0,41#4&5!+&%.!J299&*3!=F>>T!%#!G??C@7!)''.44.6!)2<24%!
G?FA7!+.%*,.-.6!W*#9(!
Q%%1(ll8887'&5*.'3'5.7'&7<#-lPZ".$%*&5l*.1#*%4l6,-.*4,#$1*#<*&9lk2*,46,'%,#$0,
-.*4,#!$7&41I7!
"&5,W#*$,&!0.1&*%9.$%!#W!&%.*!+.4#2*'.47!V'%#;.*!G??B7!K%,%E2,E'%,'F,8#"0%2,'
WG0G"#6'1.2:%0#'1-%,E#'?&%$02+,'D0"%0#E2#4'/+"'1%.2/+",2%g4'a%0#"7!+.%*,.-.6!a*#9(!
Q%%1(ll88878&%.*7'&7<#-l'5,9&%.'Q&$<.l6#'4l"5,9&%."Q&$<.Q,%.L&1.*716W7!
"&5,W#*$,&!H$.*<3!"#99,44,#$(!"#$429.*!H$.*<3!".$%.*/!G?F?7!&%.*!U4.!+&%.4!W#*!
&4Q,$<!^&'Q,$.47!)''.44.6!^&3!G?FG7!)-&,5&;5.!&%(!
Q%%1(ll8887'#$429.*.$.*<3'.$%.*7#*<lQ#9.l&115,&$'.4l8&4Q.*47Q%95!
"&5,W#*$,&!H$.*<3!"#99,44,#$7!K$-.$%#*3!0*&W%!G??>!N,.$$,&5!+.1#*%!%#!%Q.!
Z#-.*$#*!&$6!P.<,45&%2*.7!J%&WW!0*&W%!+.1#*%7!^&*'Q!G??>7!
"&5,W#*$,&!H$-,*#$9.$%&5!L*#%.'%,#$!)<.$'3!="&5HL)@7!)1*,5!G?F?7!1.2:%0#'?802+,'
Q#%:'C2#,,2%.'3#$+"07!a,$&5!+.1#*%7!
"&5,W#*$,&!H$-,*#$9.$%&5!L*#%.'%,#$!)<.$'37!^&*'Q!G??C7!1.2:%0#'?802+,'Q#%:'
3#$+"0'0+'`+@#",+"'D8-7%"U#,#EE#"'%,&'0-#'l#E24.%0G"#7!+.%*,.-.6!a*#9(!

66. Q%%1(ll8887'5,9&%.'Q&$<.7'&7<#-l'5,9&%.z&'%,#$z%.&9l*.1#*%4lG??CD?SD!
?AzaK])Pz")Rz+HLV+RzHtH"JU^^)+{7L0a!
"&5,W#*$,&!]&%2*&5!+.4#2*'.4!)<.$'37!0.'.9;.*!G??>7!;<<e'1%.2/+",2%'1.2:%0#'
?&%$02+,'D0"%0#E)M')-&,5&;5.(!Q%%1(ll8887.$.*<37'&7<#-lG?F?12;5,'&%,#$4l"]+)D
F???DG?F?D?F?l"]+)D!F???DG?F?D?F?7L0a!
"&5,W#*$,&$4!)<&,$4%!&4%.7!cL5&4%,'!N&<4(!P#'&5!V*6,$&$'.47d!)''.44.6!^&3/!G?FA7!
Q%%1(ll8887'&8*.'3'5.47#*<l,442.4l15&4%,'z'&91&,<$l15&4%,'z;&<4l5#'&5!
",%3!#W!N.5-.6.*.7!k2$.!>/!G?F?7!120)'+/'C#.@#&#"#';<><'`#,#"%.'!.%,7!+.%*,.-.6!W*#9(!
Q%%1(ll;.5-.6.*.G?A?7#*<lN.5-.6.*.zG?A?l[#9.7Q%95!
",%3!#W![2$%,$<%#$!N.&'Q7!a.;*2&*3!G?FG7!J,$<5.DU4.!"&**3#2%!N&<!V*6,$&$'.7!0*&W%!
H$-,*#$9.$%&5!K91&'%!+.1#*%/!J"[!|G?FFFFF?TA7!
",%3!#W!P&*O412*7!F>>?7!120)'+/'l%"S4$G"'`#,#"%.'!.%,7!+.%*,.-.6!W*#9(!
Q%%1(ll8887',75&*O412*7'&724l,$6.I7&41I}]K0sFTG!
",%3!#W!^,55!h&55.37!0.'.9;.*!FB/F>B>7!120)'+/'K2..'^%..#)'`#,#"%.'!.%,7!+.%*,.-.6!
W*#9(!Q%%1(ll8887',%3#W9,55-&55.37#*<lK$6.I7&41I}1&<.sESC!
",%3!#W!]#-&%#7!^&*'Q!B/!F>>C7!120)'+/'A+@%0+'`#,#"%.'!.%,7!+.%*,.-.6!W*#9(!
Q%%1(ll8887',7$#-&%#7'&724lK$6.I7&41I}1&<.s>S>!
",%3!#W!L&4&6.$&7!G??B7!L5&4%,'!N&<!+.62'%,#$!L*#<*&9!+.4.&*'Q7!L*.4.$%.6!%#!
H$-,*#$9.$%&5!)6-,4#*3!"#99,44,#$7!
",%3!#W!J&$!k#4.7!J,$<5.DU4.!"&**3#2%!N&<!V*6,$&$'.7!a,$&5!H$-,*#$9.$%&5!K91&'%!
+.1#*%7!J"[!|!G??>F?G?>T7!V'%#;.*!G?F?7!
",%3!#W!J&$%&!^#$,'&7!k&$2&*3!G?FF7!D%,0%'K+,28%'D2,E.#PG4#'1%"")+G0'C%E'Z"&2,%,8#M'
a,$&5!H$-,*#$9.$%&5!K91&'%!+.1#*%!=J"[|!G?F??SF??S@7!
",%3!#W!J&$!*&W&.57!G??S7!120)'+/'D%,'3%/%#.'`#,#"%.'!.%,';<;<7!+.%*,.-.6!W*#9(!
Q%%1(ll&'97',%3#W4&$*&W&.57#*<lZ#-.*$9.$%l"#992$,%3z0.-.5#19.$%lZ.$.*&5zL5&
$zG?!G?7Q%9!
",%3!#W!J&24&5,%#7!J.1%.9;.*!F>/!F>>T7!D%G4%.20+'`#,#"%.'!.%,7!+.%*,.-.6!W*#9(!
Q%%1(ll',74&24&5,%#7'&724lK$6.I7&41I}1&<.sGCC!
",%3!#W!J2$$3-&5.7!0.'.9;.*!G?FF7!J2$$3-&5.!J,$<5.DU4.!"&**3#2%!N&<!V*6,$&$'.7!
a,$&5!H$-,*#$9.$%&5!K91&'%!+.1#*%!=J"[|G?FF?CG?AG@7!
"#2$%3!#W!P#4!)$<.5.47!V*6,$&$'.4!%#!N&$!L5&4%,'!"&**3#2%!N&<4!,$!P#4!)$<.5.4!
"#2$%3!a,$&5!H$-,*#$9.$%&5!K91&'%!+.1#*%!=J"[|G??>FFFF?S@7!".*%,W,.6!;3!%Q.!P#4!
)$<.5.4!"#2$%3!N#&*6!#W!J21.*-,4#*4!]#-.9;.*!FC/!G?F?7!

67. "#2$%3!#W!^&*,$7!]#-.9;.*!C/!G??E7!K%"2,'1+G,0)72&#'!.%,7!+.%*,-.6!W*#9(!
Q%%1(ll8887'#79&*,$7'&724l6.1%4l'6l9&,$lW9l'816#'4l"Lz"0G716W!
"#2$%3!#W!J&$%&!"5&*&7!V'%#;.*!G?F?7!K$,%,&5!J%263!W#*!J,$<5.D24.!"&**3#2%!N&<7!
0.**&,O/!k7N7/!&$6!^7+7!Z*.<#*37!G??>7!H,@2"+,:#,0%.'2:$.28%02+,4'+/'$.%4028'&#("24'2,'
:%"2,#'4#002,E4P'#,0%,E.#:#,0I'2,E#402+,I'4:+0-#"2,E4I'-%,E#"4P+,I'-208--2S2,EI'%,&'
%.2#,'2,@%42+,47!LQ,57!R*&$47!+7!J#'7!N7!ACS7!
H'#;,5&$7!a.;*2&*3!G??S7!H,@2"+,:#,0%.'J:$%80'?44#44:#,0'+/'1%""#/+G"'C%E46'?,'
?,%.)424'+/'0-#'l2/#'1)8.#'+/'D-+$$2,E'C%E4'+/'!.%4028I'!%$#"I'%,&'C2+&#E"%&%(.#'
K%0#"2%.7!L*.1&*.6!W#*(!"&**.W#2*!Z*#217!].2,553D42*DJ.,$./!a*&$'.7!
H$-,*#$9.$%!)<.$'3!r!U$,%.6!q,$<6#9!<#-.*$9.$%7!cP2/#'1)8.#'?44#44:#,0'+/'
DG$#":%"S#0'1%""2#"'C%E4d7!a.;*2&*3!G?FF7!)-&,5&;5.!#$5,$.!&%(!
Q%%1(ll8887;,#6.<7#*<lW,5.4l215#&6.6l"&**,.*zN&<4z+.1#*%zH)716W!
H$-,*#$9.$%&5!L&1.*!].%8#*O7!G??E7!cRQ.!J%&%.!#W!%Q.!L&1.*!K$624%*3(!^#$,%#*,$<!
%Q.!K$6,'&%#*4!#W!H$-,*#$9.$%&5!L.*W#*9&$'.7d!
HI'.5L5&4!)24%*&5,&7!G??S7!cRQ.!K91&'%4!#W!0.<*&6&;5.!L5&4%,'!N&<4!,$!)24%*&5,&7d!
".$%*.!W#*!0.4,<$!&%!+^KR/!&$6!]VP)]DKRU7!
a2$6!W#*!+.4.&*'Q!,$%#!K$624%*,&5!0.-.5#19.$%/!Z*#8%Q!&$6!HX2,%3!=a+K0ZH@7!G??G7!
D+82+P'H8+,+:28'J:$%80'+/'0-#'!"+$+4#&'!.%4028'C%E'3#EG.%02+,47!
Z*..$!",%,.4!"&5,W#*$,&7!^&*'Q!G?F?7!K%40#"'H,@2"+,:#,0%.'?44#44:#,0'+,'D2,E.#PG4#'
%,&'3#G4%(.#'C%E4M'L*.1&*.6!;3!K"a!K$%.*$&%,#$&57!
[.**.*&!.%!&57!G??B7!c)5%.*$&%,-.4!%#!0,41#4&;5.!JQ#11,$<!N&<4!&$6!a##6!J.*-,'.!
K%.947!h#529.!K!&$6!KK7!L*.1&*.6!W#*!J.&%%5.!L2;5,'!U%,5,%,.47!k&$2&*3!G??B7!
[.**.*&!H$-,*#$9.$%&5!"#$425%&$%47!k2$.!G?F?7!120)'+/'D%,'Y+4n'D2,E.#PF4#'1%"")+G0'
C%E'W##'W248%.'?,%.)424'h'W2,%.'3#$+"07!
[36.*!"#$425%,$<7!G??E7!1+:$%"24+,'+/'#R2402,E'.2/#'8)8.#'%,%.)4#4'+/'$.%4028'(%E'
%.0#",%02@#47!
K$%.*<#-.*$9.$%&5!L&$.5!#$!"5,9&%.!"Q&$<.!nKL""o7!3#@24#&'=eeb'J!11'`G2&#.2,#4'/+"'
A%02+,%.'`"##,-+G4#'`%4'J,@#,0+"2#47!nq*#.b./!"7j!^#4,.*/!)7j!].-,4#$/!"7j!V.$.9&/!V7j!
J.,%b,$<.*/!J7j!"5..912%/!V7!-&$j!"#$*&6/!+7j!^,%*&/!)7L7j![7U7/!].2.j!J&44/!+7o7!L&*,4(!
VH"0/!F>>E7!
K$%.*<#-.*$9.$%&5!L&$.5!#$!"5,9&%.!"Q&$<.!nKL""o7!G??E(!J299&*3!W#*!
L#5,'39&O.*47!K$(!
1.2:%0#'1-%,E#';<<c6'Q-#'!-)428%.'D82#,8#'C%424M'1+,0"2(G02+,'+/'a+"S2,E'`"+G$'J'0+'
0-#'W+G"0-'?44#44:#,0'3#$+"0'+/'0-#'J,0#"E+@#",:#,0%.'!%,#.'+,'1.2:%0#'1-%,E#'

68. nJ#5#9#$/!J7/!07!Y,$/!^7!^&$$,$</!~7!"Q.$/!^7!^&*X2,4/!q7N7!)-.*3%/!^7R,<$#*!&$6![7P7!
^,55.*!=.647@o7!"&9;*,6<.!U$,-.*4,%3!L*.44/!"&9;*,6<./!U$,%.6!q,$<6#9!&$6!].8!
{#*O/!]{/!UJ)7!
K$%.*$&%,#$&5!L&1.*7!]VL!"#99.$%!P.%%.*!%#!%Q.!"#2$%3!#W!J&$!^&%.#!W*#9!"3$%Q,&!
P.#$/!+.<,#$&5!^&$&<.*/!Z#-.*$9.$%!+.5&%,#$47!0&%.6!)1*,5!A?/!G?FG7!J..!)11.$6,I!
)!W#*!'#915.%.!5.%%.*7!
k&9.4!&$6!Z*&$%7!G??T7!cP,W.'3'5.!)44.449.$%!#W!"#91#4%&;5.!L5&4%,'!N&<47d!".$%*.!
W#*!0.4,<$/!^.5;#2*$.!K$4%,%2%.!#W!R.'Q$#5#<37!
k#4.1Q/!J%.1Q.$!P7!P.%%.*!%#!%Q.!",%3!#W!J&$%&!^#$,'&(!+H(!D%,0%'K+,28%'42,E.#PG4#'
8%"")+G0'(%E'+"&2,%,8#6'8+::#,04'+,'%,&'+(B#802+,4'0+'9"%/0'H,@2"+,:#,0%.'J:$%80'
3#$+"07!k253!GG/!G?F?7!
k#4.1Q/!J%.1Q.$!P7!P.%%.*!%#!NH)"V]!J%&WW((!+H(!Z(B#802+,4'0+'3#@24#&'W2,%.'HJ3'A+028#'
+/'J,0#,0'0+'l202E%0#7!^&3!FA/!G?FA7!
P&,4%/!077!F>>E7!K91&'%4!#W!9&*,$.!6.;*,4(!.$%&$<5.9.$%!#W!9&*,$.!5,W.!,$!9&*,$.!
6.;*,4!,$'526,$<!&!'#91*.Q.$4,-.!5,4%!#W!41.',.4!8,%Q!.$%&$<5.9.$%!&$6!,$<.4%,#$!
*.'#*647!K$!^&*,$.!0.;*,4!(4#2*'.4/!,91&'%4!&$6!4#52%,#$4!=.64!k7^7!"#.!u!N707!
+#<.*4@/!117>>DFSF7!N.*5,$/!Z.*9&$3(!J1*,$<.*7!
^&*,$!"#2$%3![&b&*6#24!&$6!J#5,6!&4%.!^&$&<.9.$%!kL)7!c);#2%!%Q.!kL)7d!
)-&,5&;5.!V$5,$.!&%(!Q%%1(llb.*#8&4%.9&*,$7#*<l8Q#D8.D&*.l&;#2%D%Q.DM1&l7!
)'''.44.6!)2<24%!G?FA7!
^&*,$!"#2$%3![&b&*6#24!&$6!J#5,6!&4%.!^&$&<.9.$%!kL)7!c"&**3#2%!N&<!
V*6,$&$'.!0HK+d7!!)-&,5&;5.!V$5,$.!&%(!
Q%%1(llb.*#8&4%.9&*,$7#*<l&44.%4lL0a4l^&*,$D"#2$%3DkL)D"&**3#2%DN&<D
+.62'%,#$DV*6,$&$'.D0HK+716W!
)'''.44.6!]#-.9;.*!G?FA7!
^##*./!"7k7/!P&%%,$/!Z7P7/!~.55.*4/!)7a7!G??T&7!?'C"2#/'?,%.)424'+/'Z"E%,28'!+..G0%,04'
D+"(#&'0+'!"#'%,&'!+40P$"+&G802+,'!.%4028'!%"028.#4'/"+:'0-#'l+4'?,E#.#4'%,&'D%,'
`%("2#.'32@#"'a%0#"4-#&47!)<&5,%&!^&*,$.!+.4.&*'Q!a#2$6&%,#$/!P#$<!N.&'Q/!")7!
^&%#!{7/!K4#;.!R7/!R&O&6&![7/!.%!&57!G??F7!!.%4028'"#42,'$#..#04'%4'%'0"%,4$+"0':#&2G:'+/'
0+R28'8-#:28%.4'2,'0-#':%"2,#'#,@2"+,:#,07!H$-,*#$9.$%&5!J',.$'.!u!R.'Q$#5#<37!
h#529.!AT7!
]&%,#$&5!V'.&$,'!u!)%9#41Q.*,'!)69,$,4%*&%,#$!=]V))@7!J.1%.9;.*!G?F?7!?,,G%.'
`"##,-+G4#'`%4'J,&#R7!+.%*,.-.6!a*#9(!Q%%1(ll8887.4*57$#&&7<#-l<96l&<<,l7!
V'.&$!"#$4.*-&$'37!)1*,5!G?F?7!Q"%4-'Q"%@#.46';<=<'3#$+"07!K$%.*$&%,#$&5!"#&4%&5!
"5.&$21!0&37!

69. L&',W,'!Z&4!&$6!H5.'%*,'!"#91&$3!=LZuH@7!G?FA7!.;4,%.(!1%"(+,'W++0$"2,0'
1%.8G.%0+"'?44G:$02+,47!+.%*.,-.6!a*#9(!
Q%%1(ll88871<.7'#9l&;#2%l.$-,*#$9.$%l'&5'25&%#*l&44291%,#$474Q%95!
L&*9.4&$/!"7!G??S7!H8+.+E28%.'%,&'H@+.G02+,%")'3#4$+,4#4'0+'3#8#,0'1.2:%0#'
1-%,E#7!L&*9.4&$!"/!Z&5;*&,%Q![7!G??S7!Z(4#"@#&'H8+.+E28%.'J:$%804'+/'1.2:%0#'
1-%,E#'2,'A+"0-'?:#"28%7!
)*5,$<%#$/!h)(!L.8!".$%7!Z5#;7!"5,97!"Q&$<.!
J%&%.!&%.*!+.4#2*'.4!"#$%*#5!N#&*67!G?FG7!.;4,%.(!!"#$"+&G802+,'!.%4028'9#("24'
!"+E"%:7!+.%*,.-.6!a*#9(!
Q%%1(ll88878&%.*;#&*647'&7<#-l8&%.*z,442.4l1*#<*&94l4%#*98&%.*l15&4%,'6.;*,
474Q%9!5!
R#8$!#W!"#*%.!^&6.*&7!)1*,5!G??>7!Q+7,'+/'1+"0#'K%&#"%'`#,#"%.'!.%,7!+.%*,.-.6!
W*#9(!Q%%1(ll8887',7'#*%.D9&6.*&7'&724l15&$$,$<lZ.$.*&5L5&$7Q%95!
R#8$!#W!+#447!k2$.!G??E7!Q+7,'+/'3+44'`#,#"%.'!.%,';<<cP;<;O7!+.%*,.-.6!W*#9(!
Q%%1(ll8887%#8$#W*#447#*<l1&<.4l%#8$z6.1&*%9.$%4l15&$$,$<z<.$.*&5z15&$7Q%95!
R#8$!#W!J&$!)$4.59#7!F>B>7!J&$!)$4.59#!Z.$.*&5!L5&$7!+.%*,.-.6!W*#9(!
Q%%1(ll8887%#8$#W4&$&$4.59#7#*<l,$6.I7&41I}]K0sGFC!
R#8$!#W!R,;2*#$7!J.1%.9;.*!G??T7!Q+7,'+/'Q2(G"+,'`#,#"%.'!.%,M'+.%*,.-.6!W*#9(!
Q%%1(ll8#*56'&%7#*<l&*'-,.8.*lFl"NZlG??El?AlGGl?????CFGBCl-,.8.*lW,5.F7Q%
95!
U$,%.6!]&%,#$4!=$767@!`%0#7%)'0+'0-#'F,20#&'A%02+,4'D)40#:4'a+"S'+,'1.2:%0#'
1-%,E#6'9G"(%,'8+,/#"#,8#'&#.2@#"4'("#%S0-"+GE-'2,'2,0#",%02+,%.'8+::G,20)g4'
"#4$+,4#'0+'8.2:%0#'8-%,E#[')''.44.6!J.1%.9;.*!G?FG7!+.%*,.-.6!W*#9(!
Q%%1(ll88872$7#*<l8'9l'#$%.$%l4,%.l'5,9&%.'Q&$<.l1&<.4l<&%.8&3l%Q.D!
$.<#%,&%,#$4l62*;&$!
U$,%.6!]&%,#$4!a*&9.8#*O!"#$-.$%,#$!#$!"5,9&%.!"Q&$<.!=U]a"""@7!)2<24%!G??E7!
F,20#&'A%02+,4'W"%:#7+"S'1+,@#,02+,'+,'1.2:%0#'1-%,E#M')-&,5&;5.(!
Q%%1(ll2$W'''7,$%lW,5.4l.44.$%,&5z;&'O<*#2$6l'#$-.$%,#$l4%&%24z#Wz*&%,W,'&%,#$l&11
5,'&%,!#$l16Wl2$W'''z'#$-z*&%716W!
U$,%.6!]&%,#$4!a*&9.8#*O!"#$-.$%,#$!#$!"5,9&%.!"Q&$<.!=]#-.9;.*!G?FF@7!
ZG08+:#'+/'0-#'7+"S'+/'0-#'?&'V+8'a+"S2,E'`"+G$'+,'WG"0-#"'1+::20:#,04'/+"'?,,#R'
J'!%"02#4'G,&#"'0-#'i)+0+'!"+0+8+.'%0'204'42R0##,0-'4#442+,M')''.44.6!J.1%.9;.*!G?FG7!
+.%*,.-.6!W*#9(!
Q%%1(ll2$W'''7,$%lW,5.4l9..%,$<4l62*;&$z$#-zG?FFl6.',4,#$4l&115,'&%,#$l16Wl&8<
O1z#!2%'#9.716W!

70. U$,%.6!]&%,#$4!a*&9.8#*O!"#$-.$%,#$!#$!"5,9&%.!"Q&$<.!=^&*'Q!FT/!G?FG@7!3#$+"0'
+/'0-#'1+,/#"#,8#'+/'0-#'!%"02#4'+,'204'4#@#,0##,0-'4#442+,I'-#.&'2,'9G"(%,'/"+:';d'
A+@#:(#"'0+'=='9#8#:(#"';<==7!+.%*,.-.6!W*#9(!
Q%%1(ll2$W'''7,$%l*.4#2*'.l6#'4lG?FFl'#1FEl.$<l?>&?F716W!
U+NH^KJ!^#6.5/!h.*4,#$!>7G7G7!G??E7!U7J7!0.1&*%9.$%!#W!H$.*<37!H$.*<3!
K$W#*9&%,#$!)69,$,4%*&%,#$7!)2<24%!G?F?7!?,,G%.'H,#"E)!
3#@2#7'/"+:'0-#'FMDM'`+@#",:#,07!+.%*,.-.6!W*#9(!
Q%%1(ll8887.,&7<#-l&.*l.$-,*7Q%957!U7J7!H$-,*#$9.$%&5!L*#%.'%,#$!)<.$'3!
=UJHL)@7!0.'.9;.*!G??E7!"5,9&%.!"Q&$<.!R.'Q$#5#<3!
L*#<*&9!=""RL@7!+.%*,.-.6!W*#9(!
Q%%1(ll8887.1&7<#-l'5,9&%.'Q&$<.l1#5,'3l''%17Q%957!
U$,%.6!J%&%.4!H$-,*#$9.$%&5!L*#%.'%,#$!)<.$'3!=U7J7!HL)@7!)1*,5!G?FG7!J,@#,0+")'+/'
FMDM'`"##,-+G4#'`%4'H:2442+,4'%,&'D2,S46'=ee<P;<=<7!U7!J7!HL)!|SA?D+DFFD??T7!
+.%*,.-.6!W*#9(!
Q%%1(ll8887.1&7<#-l'5,9&%.'Q&$<.l.9,44,#$4l24,$-.$%#*3*.1#*%7Q%95!
U7J7!HL)7!P&84!&$6!+.<25&%,#$47!a.6.*&5!P&8D"5.&$!),*!)'%7!Q20.#'^'+/'=ee<'
?:#,&:#,04'*Z$#"%02,E'!#":20457!P&%.!U16&%.6!0.'.9;.*!F>/!G??B7!)''.44.6!
V'%#;.*!G?FG7!+.%*,.-.6!a*#9(!Q%%1(ll8887.1&7<#-l&,*l'&&l%,%5.T7Q%957!
!
G[@'=8Q2=6'Q=8QM=8=!!
RQ,4!HK+!8&4!1*.1&*.6!;3!hJZJ!H$-,*#$9.$%&5!J%.8&*64!u!)44#',&%.4!2$6.*!
'#$%*&'%!%#!J&$!N.*$&*6,$#!"#2$%3!&4%.!^&$&<.9.$%7!"#$425%&$%!4%&WW!,$-#5-.6!,$!
%Q.!1*.1&*&%,#$!#W!%Q.!HK+!&*.!5,4%.6!;.5#87!
hJZJ!H$-,*#$9.$%&5!J%.8&*64!u!)44#',&%.4!
h&5.$%.!)6&9.!
J&$$.!N*#8$!
Z*.<#*3![.$6*,'O4!
J#1Q,&!J2b2O,Dk#$.4!