%&%’*"!+",##$%&-.
! "
!!
! !!
#$%&!
!(!"#$%&’()*!+(!)&(","-.!%&(/!
%(,012-"3425262789!:;7<=7:>25?"@%*ABC2789D
E7FG25HIJK#L:;73@MN&()OPKQRSTUB62789V7G27
WXY12"’()*+,-./)012"34*5#6789:)12$
!!!!!!!!!!!!! !!!! !!!!!!!!
’(!#Z7[\$],[\!
;<=>!?@%ABC"D>’&>&
’/0!%))12(312!()4)54+()4&
678)9:;*39:;<=/>12)?2@ABC,+*+-$>DE@DFGHD
E*6I39:;<)JK=!&LMCNOPQR=S12TUV7/12*39:;WV
/X*
!(./0123456733809:;<=5053>?=79,
,(@/:,<1-345( *(@/:A4B72-345( -(@/:$<0C0-345(
%(./01D=6:E9=605=411/:5=>,
,(#:9:F:<;<:G:<B:0179H011053:(
*(#:D=:B9I137E:/7BC=CIB2==E79H(
-(#:/0DB=C:2==E7:B5:G=<:D799:<(
’(./01D=:B1/:6=C09B4HH:B11/:C09D=,
,(J:0F:1/:;302:K472E3>(
*(,22:;11/79HB0B1/:>0<:(
-(-/09H:1/::9F7<=9C:91(
L(./>D7D9I1@=CH=1=1/:D:;0<1C:91B1=<:B>:B1:<D0>,
,(#:6:911=1/:;0<E(
*(#7B5<=1/:<H=1B72E(
-(#:/0D0D01:671/0G<7:9D(
)(./017B1/:6=C09IB5<=1/:<6:0<79H,
,(,H=3D:917:09D05302EF:B1(
*(,H=3D:917:09D0502E0;<=9(
-(,9=<09H:B/7<109D05302E0;<=9%YZ&(
’[0!%)!)12(312!()4)54%%()4&
678)9:;\]^*39:;\]^<=_>12)?2@ABC,+*+-$>DE
@DFGHDE*639:;\]^‘)Ja=NOUVb>12)312)LM(6I<)b
12BF)LMCcRNO*39:;\]^VdX*
678/9:;)QR’MT’+d>12*
M(./>D=:B1/:C0960911=2/09H:/7B?=5,
,(@/::9F7<=9C:917B9I10H<::053:(
*(#7B2=6=<E:<B0<:9I1E79D1=/7C(
-(#:7B9=1B017BG7:D671//7BB030<>(
!"!"##$%&$!"!’!!!!!(%)"(&’ #$
书书书+(./0167331/:6=C09D=G=<1/:C09,
,(N79D/7C09:6?=5(
*(J:9D/7CB=C:C=9:>(
-(#:3;/7C0;;3>G=<03=09(
678/9:;)QR’"T’Od>12*
"(./01IB6<=9H671/P0C,
,(#:/4<1/7B09E3:(
*(#:5<=E:/7B3:H(
-(#:C7BB:D0C012/(
O(./016733P0CD=9:Q1,
,(R=1=/=B;7103(
*(.791/:1713:502E(
-(@03E05=411/:0227D:91(
678/9:;)QR’!&e’!%$>12*
!&(./0117C:7B719=6,
,(P:F:91/7<1>( *(P:F:9G=<1>( -(P:F:9G7G1>(
!!(./01D7DP>3F70D=1/01C=<979H,
,(P/:14<9:D=GG1/:030<C(
*(P/:B3:;11/<=4H/1/:030<C(
-(P/:<090331/:60>1=54>23=1/:B(
!%(./72/=G1/:G=33=679HB/=6BP>3F70IB05B:91SC79D:D9:BB,
,(P/:60B301:G=<B2/==3(
*(P/:5=4H/1023=2E1:3379HD01:B(
-(P/:/4<<7:D1=B2/==3=91/:6::E:9D(
678/9:;)QR’!’e’!Mf>12*
!’(./:<:0<:1/:B;:0E:<B9=6,
,(T91/:UP( *(T9P;079( -(T9A:Q72=(
!L(#=67B1/:6=C09G::379H,
,(V:<F=4B( *(#=C:B72E( -($7B0;;=791:D(
!)(./01IB1/:;<=5053:<:3017=9B/7;5:16::91/:B;:0E:<B,
,(N<7:9DB( *(#4B509D09D67G:( -(*<=1/:<09DB7B1:<(
!M(./01D=:B1/:C090DF7B:1/:6=C091=D=,
,(@03E1=3=203;:=;3:(
*(.012/0A:Q7209G73C(
-(#0F:B=C:P;097B/G==D(
678/9]^)QR’!+e’%&f>12*
!+(./>D=B=C:1<0F:3:<B/:B7101:05=411<0F:3379H7980;09,
,(80;097B2<=6D:D(
*(@/:B7H/1B::79H7B17<79H(
-(@<0F:3:Q;:9B:B0<:/7H/(
!"(#=63=9HD=:B1/:W5=9N:B17F03B:0B=930B1,
,(@6=D0>B( *(@/<::D0>B( -(P:F:9D0>B(
!O(./017B<:2=CC:9D:D7G>=460911=D=3=1B=GB7H/1B::79H,
,(*4>79H054B;0BB(
*(,BE79HG=<0D7B2=491(
-(XQ;:<7:9279HC0?=</=37D0>B(
%&(./=209H:10D7B2=491791/:011<0217=9B,
,(,C09=F:<M)( *(,2/73D=F:<!%( -(,M&S>:0<S=3D6=C09(
!"!"##$%&$!"!’!!!!%(%)"(&’ #$;E=>!FGHI%ABC"D>L&>&
’/0%)!)12(312%4)54’&4&
UV7ghi)?32ABC,+*+-T$f>DE@)DFGHDE*
!
TG>=4I<:3==E79HG=<0?=5G433=GG49)B49B/79:)/=<B:B09D37E:SC79D:D;:=;3:)1/:91/7B
7B1/:<=3:G=<>=4-@:02/79H<7D79H0120C;791/:UP,7B0H<:0160>1=B;:9D>=4<B4CC:<(
Y7D79H;<=H<0CBD7GG:<G<=C20C;1=20C;(P=C:67335:50B72)B42/0B/02E79H=41%jk
lm&09D;=9>%nok&<7D:B)6/:<:0B=1/:<B67335:C42/C=<:0DF092:D)79234D79HB/=6
?4C;79H09D2=C;:1717=9B(,3379B1<421=<B67335:<:K47<:D1=<7D:010D:2:91B109D0<D09D
/0F:B=C:E9=63:DH:79/=<B:20<:)5411>;72033>1/:C=<:0DF092:D>=4<BE733B0<:)1/:C=<:
0DF092:D;<=H<0C0<:0>=4209:Q;:211=6=<E79(
Z=4209:Q;:211=1:02/0330H:B09D0573717:B=G<7D:<B6/73B103B=C079107979H1/:20<:=G
1/:/=<B:B)79234D79HC42E79H=41%pqkr&)G::D79H):12(A=B120C;B673303B=D=B1053:
C090H:C:913:BB=9BG=<1/:20C;:<B)B=1/011/:>2091<43>49D:<B109D6/017110E:B1=3==E
0G1:<0/=<B:)09D9=1?4B13:0<91=<7D:(#=<B:Y7D79HT9B1<421=<B0<:<:K47<:D1=0<<7F:5:G=<:
=<7:91017=979=<D:<1=H:11/:/=<B:B<:0D>G=<1/:20C;:<BI0<<7F03(
"#$%&’()*+,-.-,
N433=9B71:1<07979H7B;<=F7D:D(
N<::=9379:0;;372017=9
,33G==D09D022=CC=D017=9;<=F7D:D1/<=4H/=411/:D4<017=9=G>=4<2=91<021(
A797C4C[!)M&&B030<>%9=1;=2E:1C=9:>&(
@<0F:317C:=G4;1=%C=91/B791/:P101:B5:G=<:09D.=<0G1:<20C;/0BG797B/:D(
-=C;3:1:C:D720379B4<092:1/<=4H/=411/:D4<017=9=G>=4<B10>791/:UP(
TG>=40<:!"/’&>:0<B=3D09D60911=:Q;:<7:92:,C:<720924314<:)H:1;07D1=/0F:G49
09DC0E:37G:3=9HG<7:9DB)1/7B7B1/::Q;:<7:92:G=<>=4-
%!(./=C7H/15:0B471053:209D7D01:0;;3>79HG=<<7D79H79B1<421=<,
,(,;:<B=96/=7BG499>(
*(,;:<B=96/=37E:B/=<B:B(
-(,;:<B=96/=7BH==D01<7D79H(
$(,;:<B=96/=7B090DF092:D;<=H<0CC:<(
%%(./01BE7336733VW@5:104H/10120C;,
,(@/:BE733=G20<79H/=<B:B(
*(@/:BE733=G5473D79HB1053:B(
-(@/:BE733=G<7D79H/=<B:B(
$(@/:BE733=GB1053:C090H:C:91(
%’(./:<:2096:C=B1;<=5053><:0D1/7B1:Q1,
,(T909=F:3( *(T90/7B1=<>5==E(
-(T909:6B;0;:<( $(T90<:B:0<2/;0;:<(
/
-0<3,330C5>)=69:<=G16=041=S<:;07<B/=;B671/!!:C;3=>::B)/0D5:2=C:09Q7=4B
09DD:B7<=4B=GB=C:1/79HC=<:(,1G7<B1)/:1/=4H/171C4B1/0F:1=D=671/H<=679H/7B
54B79:BB:F:9G4<1/:<(@/:<:G=<:)1/:W/7=<:B7D:91D:27D:D1=H=G=</7B497F:<B71>IBD:H<::79
54B79:BBC090H:C:91(
,G1:<10E79H230BB:B;0<1S17C:=F:<1/:9:Q1G7F:>:0<B),330C5>60B1=3D)49:Q;:21:D3>)
/:/0D1=10E:57=3=H>1=H:1/7BD:H<::(T114<9:D=411=5:5:B11/79H1/012=43D/0F:
!"!"##$%&$!"!’!!!!’(%)"(&’ #$/0;;:9:D(@/:57=3=H>230BB<:E79D3:D02/73D/==DD<:0C1/01/:/0D;41060>B=C:6/:<:
D::;671/79/7CB:3G(",G1:<1/:G7<B1D0>)T<:C:C5:<:D1/7BG::379H=G609179H1=5:0D=21=<
502E)#,330C5>B0>B(
R<=679H4;790;==<,G<7209,C:<72099:7H/5=</==D)/:G02:D3=6:Q;:21017=9B09D
94C:<=4B50<<7:<B1=;4<B479H/7BD<:0C(#7BB2/==3D7D9I1=GG:<1/:0DF092:DB27:92:230BB:B
1/01C7H/1/0F:3:D/7C=90C:D7203;01/(XF:97G71/0D)D=79H6:3379B2/==32=43D;<=F:
D09H:<=4B/B14D:91B6/=5<=4H/15==EB502E/=C:6=43D0360>B5:<=55:D%st&(P=/:B:1
0B7D:1/=4H/1B=G5:2=C79H0D=21=<79G0F=<=G0C=<:<:037B17220<::<;01//G7Q79H20<B(
Z:0<B301:<)0D7GG:<:91-0<3,330C5>)671/1/:B4;;=<1=G/7B67G:09DG0C73>)D:27D:D1=
BE7;54B79:BBB2/==379G0F=<=G1/:B27:92:230BB:B/:ID9::DG=<0B:2=9D20<::<0B0/:031/S
20<:6=<E:<(
,9D79%&!)),330C5>24117:B671//7B;0B1)B:3379H/7B16=B/=;B09D:F:<>1/79H1/01
60B791/:C(@/:9/:B10<1:D01V=<1/:0B1W/7=A:D7203U97F:<B71>(,11/:0H:=GL+)0B0
C:D7203D=21=<)/:1==E0?=579:C:<H:92>C:D7279:01-3:F:309D-37972,E<=9R:9:<03(
"T0C1=3D1/01TB/=43D9I15:0D=21=<#)/:B0>B("./:1/:<71IB5:204B:=GC>0H:)C>
<02:)C>4;5<79H79H=<C>;0B120<::<)1/:B:0<:033H==D<:0B=9B6/>TB/=43D9I15:/:<:(
,9D>:1)/:<:T0C(#
%L(./>D=:B-0<310E:54B79:BBC090H:C:91230BB:B,
,(*:204B:/:6091B1=C::1C=<:;=1:91703:C;3=>::B(
*(*:204B:/:6091B1=5:<:B;:21:D5>/7B:C;3=>::B(
-(*:204B:/:6091B1=7C;<=F:/7B2=C;09>IB54B79:BB(
$(*:204B:/:6091B1=5:K4037G7:DG=<0;<=G:BB=<IB?=5(
%)(./72/=G1/:G=33=679H7B1/:23=B:B179C:0979H1=1/:49D:<379:D6=<D"<:E79D3:D#,
,(@==E=9( *(\433:D=F:<(
-(\41=41( $(*<=4H/1502E(
%M(./01C0E:B-0<3G0731=;4<B4:/7BD<:0C,
,(@/:;==<;01/1=/7BB2/==3(
*(@/:D09H:<=4B2<7C:B79,G<720(
-(J02E=G1/:022:BB1=B=C:E:>2=4<B:B(
$(J02E=G1/:C=9:>1=54>0DF092:D1:Q15==EB(
%+(./72/6=<D2095:B1D:B2<75:-0<3,330C5>,
,(R7G1:D( *($:1:<C79:D( -(X91/4B70B172( $(\=6:<G43(
0
$4:1=237C01:2/09H:09D2/09H:B79309D4B:)673DG7<:B0<:;<:D721:D1=<7B:5>4;1=!L
;:<2:915>%&’&)’&;:<2:915>%&)&09D)&;:<2:915>1/::9D=G1/7B2:914<>)09D:F:90<:0B
=92:2=9B7D:<:DB0G:G<=CC0?=<G7<:BB42/0B1/:,<2172)6733"F:<>37E:3>#:Q;:<7:92:0C0?=<
792<:0B:7954<979H)022=<D79H1=09:6<:;=<15>1/:UVX9F7<=9C:91\<=H<0CC:%UVX\&(
@/:<:;=<1)!"#$%&’()*’+$,’*&-’#$0./$0’1’()./#$%23-452#%3#&’(%#67%(&18%"$
9’#$1)B0>B1/01673DG7<:B09D237C01:2/09H:0<:"C414033>6=<B:979H(#.73DG7<:B0<:C0D:
C=<:B:<7=4B5>237C01:2/09H:1/<=4H/792<:0B:DD<=4H/1)/7H/07<1:C;:<014<:B)3=6
/4C7D71>%uv&)37H/1979H)09DB1<=9H679DB(A:096/73:)237C01:2/09H:7BC0D:6=<B:5>
673DG7<:B)C=B13>5>D0C0H79H)B:9B717F:09D20<5=9S<72/:2=B>B1:CB37E:<079SG=<:B1B(
.73DG7<:B2091/<:01:9;:=;3:IB/:031/09D37F:B);=3341:601:<)D:B1<=>2<=;B09D<:D42:
309D0F073053:1=H<=6G==D(-=B1B=G<:5473D79H0G1:<0<:0B0<:B1<42E5>673DG7<:B2095:
5:>=9D1/:C:09B=G3=6S792=C:2=491<7:B(.73D37G:)0B6:330B9014<03/057101B)7B03B=<0<:3>
!"!"##$%&$!"!’!!!!L(%)"(&’ #$B;0<:D(,331/:B:B3=6;<=H<:BB1=60<DB1/:UVP4B1079053:$:F:3=;C:91R=03B(
./73:1/:B714017=97B2:<10793>:Q1<:C:)717B9=1>:1/=;:3:BB(@/:;45372017=92033B=9
H=F:<9C:91B1=0D=;109:6"N7<:Y:0D>N=<C430#)671/16=S1/7<DB=GB;:9D79HD:F=1:D1=
;309979H);<:F:917=9);<:;0<:D9:BB)09D<:2=F:<>)671/ =9:S1/7<D3:G1G=<<:B;=9B:(
-4<<:913>)D7<:21<:B;=9B:B1=673DG7<:B1>;72033><:2:7F:=F:</03G=G<:301:D:Q;:9D714<:B%w
x&)6/73:;309979H09D;<:F:917=9<:2:7F:3:BB1/09=9:;:<2:91(".:/0F:1=C797C7]:1/:
<7BE=G:Q1<:C:673DG7<:B5>5:79H5:11:<;<:;0<:D079F:B1C=<:79G7<:<7BE<:D4217=909DB/7G1
G<=C ;0BB7F:<:B;=9B:1=;<:F:917=909D;<:;0<:D9:BB)#B07DT9H:< ,9D:<B:9)UVX\
XQ:2417F:$7<:21=<(
P:1179H4;D01009DB27:92:S50B:D C=971=<79HB>B1:CB)B1<:9H1/:979H<:H7=90309D
791:<9017=9032==;:<017=9)<:B1=<79H:2=B>B1:CB09D1/79979HG=<:B1B0<=49D0<:0B6/:<:
9014<:09D/4C0937F79HB;02:BC::10<:?4B10G:6B4HH:B1:D:Q0C;3:B=G79F:B1C:91B791=
;<:F:917=9);<:;0<:D9:BB09D<:2=F:<>(
%"(./>D=:B1/:041/=<B;:0E=G1/:,<2172,
,(@=791<=D42:1/:237C01:2/09H:=G71(
*(@=B1<:BB1/:7C;=<1092:=G;<=1:2179H71(
-(@=60<9;:=;3:=G1/:673DG7<:D0C0H:(
$(@=B/=61/:<7B79H1:9D:92>=G673DG7<:B(
%O(./01D=:B\0<0H<0;/’C0793>103E05=41,
,(.73DG7<:2=91<=3( *(Y:5473D79H2=B1B(
-(@/:;=BB753:D0C0H:( $(@/:B3=679H;<=H<:BB(
’&(./72/C7H/15:09:Q0C;3:=G79F:B1C:91B791=;<:F:917=909D;<:;0<:D9:BB,
,(-03379H=9C=<:;:=;3:1=D=901:C=9:>(
*(P4<<=49D79H54B>1=69B671/1/72EG=<:B1B(
-(T9F:B179HC=<:C=9:>79;41179H=41673DG7<:B(
$(Y:B1=<79H6:1309DB0B6:330B673D37G:B;:27:B(
’!(./012096:3:0<9G<=C1/:<:;=<1,
,(.73DG7<:B09D237C01:2/09H:6=<B:9:02/=1/:<(
*(@/:<:B:0<2/:<B0<:;:BB7C7B17205=41673DG7<:2=91<=3(
-(\<:F:917=9<:2:7F:B/03G=G<:301:DB;:9D79H24<<:913>(
$(A09>H=F:<9C:91B/0F:0D=;1:D"N7<:Y:0D>N=<C430#(
1
./:9;:=;3:1/79E=GG0<C79H1=D0>)1/:>4B4033>;7214<:01<021=<%yz{&<01/:<1/09
/=<B:B791/:G0<C309D(@/01IB5:204B:1<021=<B1/01<:37:D=9:9H79:B<:F=3417=97]:DG0<C79H
791/:301:!"&&B(V=609:61>;:=G1<021=<209D=1/:B0C:791/:%!B12:914<>(
,H<724314<:/0B5::92/09H79HD<0C0172033>791/:30B1G:6D:20D:B(@/:;4B/G=<
799=F017=97BG:D5>1/:9::D1=;<=D42:30<H:<0C=491B=GG==DG=<0H<=679H6=<3D
;=;43017=9(,41=9=C=4B1<021=<BC0>5:1/:E:>1=B=3F79H1/7B2/033:9H:(@/:>2095:4B:D
1=20<<>=41305=<S791:9B7F:G0<C79H6/73:033=679HG0<C:<B1=D==1/:<6=<E(,57H;34B7B
1/0171209792<:0B:2<=;=41;416/73:<:D4279H2=B1B5:204B:1/:041=9=C=4BC02/79:B209
6=<E790336:01/:<2=9D717=9B671/=4109><:B1(
\0<1=G;4B/G=<041=C017=97B0B/=<10H:=GG0<C6=<E:<BD4:1=;:=;3:IBD:B7<:1=/0F:
/7H/:<;0>79H?=5B671/5:11:<6=<E2=9D717=9B(N0<C=69:<B0<:2=C;:179H0H079B12=C;097:B
37E:,C0]=909D<:B104<091B1/010<:<07B79H60H:B1=011<0216=<E:<B(".71/305=<B/=<10H:B
09D1/:792<:0B:791/:/=4<3>60H:B1/01/0F:1=5:;07D79=<D:<1=5:2=C;:1717F:)033=G0
!"!"##$%&$!"!’!!!!)(%)"(&’ #$B4DD:9041=C017=9B::CB37E:0C=<:<:0B=9053:D:27B7=9)#B07D$0F7DP60<1])0;<=G:BB=<01
\:99P101:U97F:<B71>(
A09>5:37:F:1/:17C:7B<7;:G=<09041=9=C=4B<:F=3417=95:204B:<=5=172B7B03<:0D>79
4B:790H<724314<:(W9:2=C;09>1/017B6=<E79H1=5<79H041=9=C=4B1<021=<B791=C079B1<:0C
G0<C79H7B*34:09D ./71:Y=5=172B)09TB<0:370H<724314<031:2/9=3=H>2=C;09>)6/=B:
C7BB7=97B1=C0E:0G433>041=9=C=4BG0<C(@/:2=C;09><:3:0B:D09041=9=C=4B1<021=<E71
79N:5<40<>%&%!1/012095:G7Q:D=909>:Q7B179H1<021=<(@/:E7179234D:B20C:<0D:1:217=9)
B;::D2=91<=3B)0B6:330B090917S2<0B/B>B1:C(*34:09D./71:IBE717B5:79H4B:D5>.:B1
-=0B1H<=6:<B791/:UP(T1C0>B==92=C:1=0G0<C9:0<>=4(
’%(./012=91<7541:B1=1/:0H<724314<03<:F=3417=9022=<D79H1=\0<0H<0;/%,
,(@/:4<H:1=G::DC=<:;:=;3:( *(@/::Q1<:C:6:01/:<2=9D717=9B(
-(@/:9::D1=<:D42:G0<C79H2=B1( $(@/:D:B7<:G=<041=C0172G0<C79H(
’’(./017BP60<1]IB011714D:1=041=C017=9,
,(-<717203( *(V:H017F:( -(P4;;=<17F:( $(T9D7GG:<:91(
’L(./012095:79G:<<:D05=41*34:09D./71:IBE71,
,(T1/0B5::967D:3>4B:D(
*(T12095:C0D:79C09>G7<CB(
-(T12097C;<=F:B0G:1>=G1<021=<B(
$(T16733D:1:211/:60>=GG0<C79H(
’)(./01C0>5:0B471053:1713:G=<1/:1:Q1,
,(,41=C017=9TB@<09BG=<C79H,H<724314<:
*(*7H-=C;097:B,<:A0E79H,$7GG:<:92:
-($<7F:<3:BB@<021=<B,<:.=<1/T9F:B179H
$(@<0D717=903N0<C79HTBN03379H=41=G$01:
’[0%))12(312%4)54!&4&
|}hi~(cid:127))?hi<CDE@DF(cid:128)(cid:129)(cid:130)(cid:131)^(cid:132)CGHDE*DE@=dE(cid:133)(cid:134)(cid:135)DE*
234%35.637.8.96$).)%:$9;.9<9368+$’%(*’
Y:C=F79H;:<C09:91C0<E:<G<=C;30B1727B:0B>)541>=403B=/0F:1=5:20<:G43(P=C:
=G1/:C=<::GG:217F:23:09B:<B%p(cid:136)(cid:137)&)B42/0B02:1=9:)20903B=<479;30B172B4<G02:B)
:B;:27033>7G1/:>0<:3:G1=91/:;30B172G=<1==3=9H(@/7B0<1723:6733B/=6>=4B:F:<0360>B1=
<:C=F:;:<C09:91C0<E:<B1079B%(cid:138)(cid:139)&G<=C;30B172B4<G02:B(!’M!
5.637()=’%$()’4(%#-9>?.9$’.6$9;.9
N79D0D<>S:<0B:C0<E:<(@/:2=3=<D=:B9=1C011:<)031/=4H/>=4C0>60911=2=9B7D:<
4B79H0D0<E:<S2=3=<:DC0<E:<(!’+!,9D717BB0G:1=4B:=9BC==1/);30B172B4<G02:B(T1C0>
9=15:0B:GG:217F:=91:Q14<:D%(cid:140)(cid:141)C&B4<G02:B(79B1:0D)2=9B7D:<4B79HB=C:<45579H
032=/=3=<50E79HB=D009D1==1/;0B1:(.7;:1/:0<:023:09671/0B=G123=1/(@/:;:<C09:91
C0<E:<B1079B/=43D2=C:=GG671/1/:23=1/09DD<>S:<0B:C0<E:<(
5.637()=’%$()’4(%#$6$=(*.9$’.9
\4<2/0B:0C0H72:<0B:<B;=9H:%(cid:142)(cid:143)&(Z=4209G79D1/:C791/:23:0979HD:;0<1C:91=G
C=B1H<=2:<>B1=<:B(!’"! *:B4<:1/01>=4;4<2/0B:0;3079C0H72:<0B:<)671/=4109>
0DD717F:B(-411/:B;=9H:791=BC033:<;7:2:B(@/7B6733C0E:71:0B7:<1=6=<E671/(!’O!
$7;1/:B;=9H:79B=C:601:<(TG1/:B10797B;0<172430<3>1=4H/)2=9B7D:<4B79H<45579H
032=/=379B1:0D(
5.637()=’%$()’4(%#$+*3#3+
N79DB=C:<45579H032=/=3(Y45579H032=/=37BB0G:1=4B:)541>=4C0>9::D1=4B:710
G:617C:B5:G=<:>=4H:11/:B1079=GG(!L&!@<>1=H:1B=C:1/79H1/017BO&^=</7H/:<(
,(@/:>0<:6/71:09DB/0;:D37E:5<72EB(
!"!"##$%&$!"!’!!!!M(%)"(&’ #$*(,BC0330C=491673303B=H=03=9H60>(
-(#:<:0<:1/:5:9:G71B09DD<06502EB=G:02/(
$(@/:/7H/:<1/:;:<2:910H:)1/:C=<::GG:217F:7167335:(
X(@/7BC:1/=D6=<EB:Q2:;17=9033>6:33=9D<>S:<0B:5=0<DB(
N(Y451/:B1079671/1/:B;=9H:4B79H27<2430<C=F:C:91B49173717BH=9:(
R(_::;79C79D)/=6:F:<)1/01B=C:B1079BC0>5:7C;=BB753:1=<:C=F:2=C;3:1:3>(
;J=>!"KLMNO%ABC"D>L)>&
’/0%)%&12(312!()4)54’&4&
UV78hi)?hi<b2ABC,+*+-T$f>DE@)DF(cid:144)(cid:145)(cid:129)(cid:146)(cid:131)^(cid:132)CG
HDE*
./01IB1/:D7GG:<:92:5:16::9/0F79H0D<:0C09DC0E79H1/:D<:0C2=C:1<4:, #0<D
6=<E09D;:<B:F:<092:(.09D0PC71/0360>B6091:D1=5:0!L!!)541B=C:17C:BC::179H
37G:IBD:C09D79H<:03717:B209C:090D<:0C!L%!(
PC71/)0C=1/:<=G1/<::)/0D1=20<:G=</:<C=C)!L’!/:<G0C73><:B;=9B7573717:B)
B/:1==E?=5B0B054BC=971=<09DH01:E::;:<G=<*<:9/0CT9D:;:9D:91P2/==3$7B1<72179
@:Q0B(@/:17C:60B!LL!G=</:<(*41<01/:<1/093:1/:<D<:0CD7:)011/:0H:=G’+)671/
1/:!L)!=G/:</4B509D)B/:0DD:D97H/1230BB:B1=/:<!LM!(V79:>:0<B=9)B/:!L+!
H<0D401:D671/0502/:3=<IBD:H<::G<=CP0C#=4B1=9P101:U97F:<B71>(
PC71/IBB1=<>20C:G43327<23:6/:9B/:60B!L"! 0B0G7<B1SH<0D:1:02/:<502E01
*<:9/0CX3:C:910<>P2/==3(!LO!)/:<C=C09D5:3=F:DB7B1:<BD7D9I137F:1=B::/:<
022=C;37B/C:91)541B/:E9=6B1/:>6=43D/0F:5::9!)&!=G/:<("./:9TB109D791/:
G<=91=GC>230BB<==C)TE9=6T0C!)!! C>D<:0CG79033>)#PC71/B07DD4<79H0B/=6
2:3:5<0179H@:02/:<BI$0>(
$4<79H1/:;09D:C72)0BB=C:=G/:<B14D:91B!)%!1=10E:4;D7B1092:3:0<979H)PC71/
B1:;;:D4;1=/:3;1/:C(P/:<7BE:D/:<37G:1=D:37F:<B2/==36=<E1=B14D:91B1=:9B4<:1/01
1/:3:0<979H2=43D5:!)’!0BBC==1/3>0B;=BB753:)6/72/<:033>!)L!/:<B14D:91B09D
1/:7<;0<:91B(
T1IB9=6=9D:<PC71/IBE7DB!))!/:<(T90B;:2703B4<;<7B:2:<:C=9>)1/:>B/=41:D
1/:7<!)M!09D/:3D4;57H2=3=<G43B7H9B!)+!1/:7<3=F:(PC71/IB37G:7B09:Q0C;3:0B
6:330B0%9&!)"!G=<4B(.71/H<:01D:1:<C79017=909D !)O!)B/:H<0D401:DG<=C
23:0979H230BB<==CB1=!M&!230BB<==CB(
L!(,(D<7F:< *(1:02/:< -(D=21=< $(C090H:<
L%(,(D:30>:D *(5<=E:9 -(06=E:9 $(0217F01:D
L’(,(D:9>79H *(B/=43D:<79H -(2307C79H $(0F=7D79H
LL(,(C:0979H3:BB *(/=;:3:BB -(49G07< $(1=4H/
L)(,(B4;;=<1 *(2=C;30791 -(0;;<:27017=9 $(;:<C7BB7=9
LM(,(=224;017=9 *(/=55> -(B2/:D43: $(:Q:<27B:
L+(,(49673379H3> *(B422:BBG433> -(49:Q;:21:D3> $(B:2<:13>
L"(,(2=9B7D:<:D *(1<:01:D -(90C:D $(/7<:D
LO(,(U9G=<14901:3> *(W5F7=4B3> -(-=9B:K4:913> $(J42E73>
)&(,(G=9D *(E79D -(;<=4D $(0G<07D
)!(,(1:3379H *(B/0<79H -(;0BB79H $(37F79H
)%(,(<:C:C5:<:D *(B1<4HH3:D -(;<:1:9D:D $(<:H<:11:D
)’(,(2/:2E:D=41 *(/09D:D4; -(20<<7:D=41 $(H7F:94;
)L(,(C=F:D *(6=<<7:D -(011<021:D $(B0F:D
))(,(:9F7:D *(0DC7<:D -(G=<H=1 $(C7BB:D
)M(,(<:K4:B1B *(09H:< -(=<D:<B $(;<07B:
)+(,(;4<B479H *(D=90179H -(D:230<79H $(B::E79H
)"(,(79B;7<017=9 *(1<=453: -(G0734<: $(342E
)O(,(E79D9:BB *(7C0H79017=9 -(:GG=<1 $(49D:<B109D79H
M&(,(/:3;79H *(497179H -(5473D79H $(3:0D79H
!"!"##$%&$!"!’!!!!+(%)"(&’ #$’[0%)!&12(312!()4)54!)4&
UV78hi)(cid:147)(cid:131)^(cid:132)(cid:129)(cid:146)!>(cid:148)(cid:149)C(cid:150)(cid:151)\(cid:152)(cid:153)~(cid:150)(cid:151)C(cid:154)(cid:155)(cid:156)(cid:157)*
V014<033>H<::9)<:D)>:33=6)=<6/71:)?0D:%(cid:158)&7B0B;:2703<=2E(T1IB7C;=<10911=
-/79:B:24314<:30<H:3>D4:1=!M!!71<:;<:B:91B(#:<:7B05<7:G!M%! %791<=D42:&1=
?0D:(
80D:!M’! %230BB7G>&791=B=G1?0D:09D/0<D?0D:(W9:1>;:=G/0<D?0D:7B2033:DG:724779
-/79:B:1/017B9=6 !ML! %F034053:&1/09B=G1?0D:79-/7901=D0>(,B0;0<1=G-/79:B:
27F737]017=9)-/79:B:?0D:/0B5::9794B:G=<;<021720309DD:2=<017F:!M)! %;4<;=B:&B792:71
60BG=49D(
-/79:B:;:=;3:3=F:?0D:9=1=93>5:204B:=G71B0:B1/:1725:041> !MM! 5:204B:71
<:;<:B:91BB=2703F034:(T9J787)-=9G4274BB07D1/011/:<:0<:!!F7<14:B)<:;<:B:91:D79?0D:0
?4B172:)1<41/)791:337H:92:):12(
80D:7BB=G7<C3>:B10537B/:D79-/79:B:24314<:!M+!1/:<:0<:C09>B1=<7:B05=4180D:(
,C=9H1/:C1/:C=B1G0C=4B7B#:P/7‘/7*7)!M"! %1:33&1/:B1=<>=GA<(#:09D/=6/:
G=49D0;7:2:=G<06?0D:09D1<7:D1=H7F:711=16=H:9:<017=9B=GE79HB)5411/:>D7D9I1
<:2=H97]:710B;<72:3:BB09D241=GG/7BG::1!MO! %;497B/&/7CG=<1<>79H1=;0BB71=GG0B0
6=<1/>B1=9:(,G1:<60<DB)1/:H<09DB=9=G1/:G7<B1E79H).:9609H)/0D/7B?:6:3:<2411/:
B1=9:=;:909DG=49D1/:<06?0D:(7160B20<F:D791=0D7B209D90C:D!+&! A<(#:(
;P=>!.:%ABC"D>’)>&
’/0!hi(cid:159)(cid:160)%)!&12(312!4)54!&4&
hi(cid:159)(cid:160)%)!&12(312!4)54!&4&
¡¢£⁄¥ƒ§¤'“«‹›Ofifl(cid:176)(cid:159)ci)–J(cid:176)(cid:159)J«‹†C(cid:145)7ci*i@)=
!&(cid:132)⁄‡(cid:160)·)3(cid:181)@G(cid:134)=d(cid:132)*3(cid:132)(cid:160)·W¶•/>(cid:150)(cid:151)C‚„+”»\(cid:176)(cid:159)*
‚„0(cid:147)…(cid:151)(cid:132)„/>‰(cid:190)¿(cid:153)%"&)(cid:192)(cid:147)`78†ƒ´„C(cid:151)*
”»0ˆ(cid:134)(cid:135)C(cid:151)˜¯˘%#&˙¨*
(cid:176)(cid:159)0(cid:147)(cid:160)C(cid:151)7˙/(cid:201)˘)(cid:192)(cid:147)´(cid:151)78†ƒ(cid:176)(cid:159)<C(cid:151)*
˚¸0!(3(cid:132)(cid:160)·•`(cid:176)(cid:159)(cid:204)W˝/(cid:151)(
%(˛ˇ—(cid:176)(cid:159)!&(cid:132))(cid:134)(cid:209)%?’!!(cid:132)(cid:210)&(cid:140)(cid:211)4*
,B7BE9=691=033)5473DH==D<:3017=9B/7;B671/=1/:<B7B2<71720379=4<B=27:1>(./:971
2=C:B05=41;:<B=903<:3017=9B/7;B)TID9014<031/79E=GC><:3017=9B/7;671/C>C=1/:<(P/:
=G1:91=3DC:1/01T2095:09>=9:T6091)0B3=9H0BTIC2=9G7D:92:=GC>B:3G(P/:B::BC>
103:9109D;4B/:BC:1=D=1/:5:B1T;=BB753>209(T<:B;:21G=<C>C=1/:<B=C42/G=<B/:
1<:01BC:0B09:K40379B1:0D=G2/73D(P/:H7F:BC:1/:G<::1=C0E:C7B10E:B09D1=3:0<9
G<=C71(U937E:G<7:9DB/7;B6/01209G0D:09D5<:0E)TE9=6TI330360>B5:2=99:21:D671/C>
C=1/:<6/01:F:<TG02:(
(cid:212)˜i†c
’[0!(cid:213)8(cid:214)m%54%)4&
¡¢J(cid:215)(cid:216)(cid:217))(cid:147)J(cid:218)(cid:219)(cid:220)C(cid:221)(cid:220)PC71/(cid:222)(cid:223)(cid:224)aQÆ)–J(cid:226)(cid:214)ª(cid:218)(cid:228)‡)~(cid:127)(cid:229)(cid:152)0
!((cid:214)m(cid:230)(cid:231)(%(QŁØŒ(’((cid:214)mº(cid:236)*
˚¸0!((cid:151)(cid:237)!&&(cid:238)(cid:239)(
%((cid:144)(cid:145)(cid:148)(cid:149)‚„(cid:240)0)(cid:145)æ(cid:242)i(cid:243)(cid:244)*
!
!
!
!
!
!
!"!"##$%&$!"!’!!!!"(%)"(&’ #$
