Scribd Logo
Hochladen

Willkommen bei Scribd!

  • HTML 5 Draft Spec (11/11/10)

    Hochgeladen von

    Jonathan Bates
    87 Ansichten745 Seiten
    This is the HTML5 specification document (745 pages) as of Nov 11 2010, as written by W3G

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Verfügbare Formate

    PDF, TXT oder online auf Scribd lesen

    Stufen Sie dieses Dokument als nützlich ein?

    Sind diese Inhalte unangemessen?

    Dieses Dokument melden
    This is the HTML5 specification document (745 pages) as of Nov 11 2010, as written by W3G

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Als PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    87 Ansichten745 Seiten

    HTML 5 Draft Spec (11/11/10)

    Hochgeladen von

    Jonathan Bates
    This is the HTML5 specification document (745 pages) as of Nov 11 2010, as written by W3G

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Als PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    von 745

    $0)(CH=FO>CHAH?RNA?H?

    L;NCIH;>>CNCIHMMNCFF
    CH>?P?FIJG?HN
    L;@N/N;H>;L>WJLCF
    :PVDBOUBLFQBSUJOUIJTXPSL +PJOUIFXPSLJOHHSPVQTEJTDVTTJPOMJTU
    3?<>?MCAH?LM 8FIBWFB '"2 B GPSVN BOEB IFMQNBJMJOHMJTU GPSZPV

    )OFNCJF? J;A?P?LMCIH
    BNNJ QB;NQA ILA BNGF

    +H? J;A?P?LMCIH
    IUUQXXXXIBUXHPSHTQFDTXFCBQQTDVSSFOUXPSL

    , "JLCHNP?LMCIHM
    " IUUQXXXXIBUXHPSHTQFDTXFCBQQTDVSSFOUXPSLIUNMBQEG
    -FUUFS IUUQXXXXIBUXHPSHTQFDTXFCBQQTDVSSFOUXPSLIUNMMFUUFSQEG

    2?LMCIHBCMNILS
    5XJUUFSNFTTBHFT OPOFEJUPSJBMDIBOHFTPOMZ
     IUUQUXJUUFSDPN8)"58(
    $PNNJU8BUDIFSTNBJMJOHMJTU IUUQMJTUTXIBUXHPSHMJTUJOGPDHJDPNNJUXBUDIFSTXIBUXHPSH
    *OUFSBDUJWF8FCJOUFSGBDF IUUQIUNMPSHUPPMTXFCBQQTUSBDLFS
    4VCWFSTJPOJOUFSGBDF IUUQTWOXIBUXHPSH

    %MMO?M
    5PTFOEGFFECBDL XIBUXH!XIBUXHPSH
    5PWJFXBOEWPUFPOGFFECBDL IUUQXXXXIBUXHPSHJTTVFT

    !>CNIL
    *BO)JDLTPO (PPHMF JBO!IJYJFDI
    J>?HA867C  ??;4><?DC4A=2 #>I8;;0>D=30C8>=0=3%?4A0)>5CF0A4)
    />D0A46A0=C430;824=B4C>DB4A4?A>3D240=32A40C434A8E0C8E4F>A:B>5C78B3>2D<4=C

    <MNL;=N
    5IJTTQFDJИDBUJPOFWPMWFT)5.-BOEJUTSFMBUFE"1*TUPFBTFUIFBVUIPSJOHPG8FCCBTFEBQQMJDBUJPOT5IFNPTUSFDFOU
    BEEJUJPOTJODMVEFB EFWJDF Q FMFNFOUUPFOBCMFWJEFPDPOGFSFODJOH BTXFMMBTBMMUIFGFBUVSFTBEEFEBTQBSUPGUIF
    FBSMJFS)5.-FЗPSU

    
    /N;NOMI@NBCM>I=OG?HN
    0BCMCM;QILECHJLIAL?MM 5IJTEPDVNFOUJTDIBOHJOHPOBEBJMZJGOPUIPVSMZCBTJTJOSFTQPOTFUPDPNNFOUTBOEBT
    BHFOFSBMQBSUPGJUTEFWFMPQNFOUQSPDFTT$PNNFOUTBSFWFSZXFMDPNF QMFBTFTFOEUIFNUP XIBUXH!XIBUXHPSH
    5IBOLZPV

    0VUTUBOEJOHGFFECBDL JTUSBDLFEBMMFNBJMTTFOUUPUIFMJTUBCPWFSFDFJWFBSFQMZ5IFMFWFMPGPVUTUBOEJOHGFFECBDLJT
    DIBSUFE UPBMMPXQSPHSFTTUPCFFWBMVBUFE

    *NQMFNFOUPSTTIPVMECFBXBSFUIBUUIJTTQFDJИDBUJPOJTOPUTUBCMF %GJF?G?HNILMQBI;L?HINN;ECHAJ;LNCHNB?
    >CM=OMMCIHM;L?FCE?FSNI]H>NB?MJ?=C]=;NCIH=B;HACHAION@LIGOH>?LNB?GCHCH=IGJ;NC<F?Q;SM
    7FOEPSTJOUFSFTUFEJOJNQMFNFOUJOHUIJTTQFDJИDBUJPOCFGPSFJUFWFOUVBMMZSFBDIFTUIFDBMMGPSJNQMFNFOUBUJPOTTIPVME
    KPJOUIF 8)"58(NBJMJOHMJTU BOEUBLFQBSUJOUIFEJTDVTTJPOT

    5IJTTQFDJИDBUJPOJTJOUFOEFEUPSFQMBDF CFUIFOFXWFSTJPOPG
    XIBUXBTQSFWJPVTMZUIF)5.- )5.- 9)5.- BOE
    %0.)5.-TQFDJИDBUJPOT

    
    0;<F?I@=IHN?HNM
     *OUSPEVDUJPO  
     *TUIJT)5.-  
     #BDLHSPVOE 
     "VEJFODF 
     4DPQF 
     )JTUPSZ  
     %FTJHOOPUFT 
     4FSJBMJ[BCJMJUZPGTDSJQUFYFDVUJPO  
     $PNQMJBODFXJUIPUIFSTQFDJИDBUJPOT 
     )5.-WT9)5.-  
     4USVDUVSFPGUIJTTQFDJИDBUJPO  
     )PXUPSFBEUIJTTQFDJИDBUJPO  
     5ZQPHSBQIJDDPOWFOUJPOT  
     "RVJDLJOUSPEVDUJPOUP)5.-  
     $POGPSNBODFSFRVJSFNFOUTGPSBVUIPST  
     1SFTFOUBUJPOBMNBSLVQ  
     4ZOUBYFSSPST  
     3FTUSJDUJPOTPODPOUFOUNPEFMTBOEPOBUUSJCVUFWBMVFT  
     3FDPNNFOEFESFBEJOH 

     $PNNPOJOGSBTUSVDUVSF  
     5FSNJOPMPHZ  
     3FTPVSDFT  
     9.-  
     %0.USFFT  
     4DSJQUJOH 
     1MVHJOT  
     $IBSBDUFSFODPEJOHT  
     $POGPSNBODFSFRVJSFNFOUT  
     %FQFOEFODJFT  
     &YUFOTJCJMJUZ  
     $BTFTFOTJUJWJUZBOETUSJOHDPNQBSJTPO  
     $PNNPONJDSPTZOUBYFT  
     $PNNPOQBSTFSJEJPNT  
     #PPMFBOBUUSJCVUFT  
     ,FZXPSETBOEFOVNFSBUFEBUUSJCVUFT  
     /VNCFST  
     /POOFHBUJWFJOUFHFST 
     4JHOFEJOUFHFST  
     3FBMOVNCFST  
     1FSDFOUBHFTBOEMFOHUIT  
     -JTUTPGJOUFHFST 
     -JTUTPGEJNFOTJPOT 
     %BUFTBOEUJNFT 
     .POUIT  
     %BUFT 
     5JNFT  
     -PDBMEBUFTBOEUJNFT  
     (MPCBMEBUFTBOEUJNFT  
     8FFLT 
     7BHVFSNPNFOUTJOUJNF  
     $PMPST 
     4QBDFTFQBSBUFEUPLFOT 
     $PNNBTFQBSBUFEUPLFOT  
     3FGFSFODFT  
     .FEJBRVFSJFT  
     63-T  
     5FSNJOPMPHZ  
     %ZOBNJDDIBOHFTUPCBTF63-T  
     *OUFSGBDFTGPS63-NBOJQVMBUJPO 
     'FUDIJOHSFTPVSDFT 
     1SPUPDPMDPODFQUT 

    
     &ODSZQUFE)551BOESFMBUFETFDVSJUZDPODFSOT 
     %FUFSNJOJOHUIFUZQFPGBSFTPVSDF  
     $PNNPO%0.JOUFSGBDFT  
     3FЙFDUJOHDPOUFOUBUUSJCVUFTJO*%-BUUSJCVUFT  
     $PMMFDUJPOT  
     )5.-$PMMFDUJPO 
     )5.-"MM$PMMFDUJPO 
     )5.-'PSN$POUSPMT$PMMFDUJPO 
     )5.-0QUJPOT$PMMFDUJPO  
     )5.-1SPQFSUJFT$PMMFDUJPO 
     %0.5PLFO-JTU 
     %0.4FUUBCMF5PLFO-JTU  
     4BGFQBTTJOHPGTUSVDUVSFEEBUB  
     %0.4USJOH.BQ  
     %0.GFBUVSFTUSJOHT  
     &YDFQUJPOT  
     (BSCBHFDPMMFDUJPO  
     /BNFTQBDFT  

     4FNBOUJDT TUSVDUVSF BOE"1*TPG)5.-EPDVNFOUT 


     %PDVNFOUT  
     %PDVNFOUTJOUIF%0.  
     4FDVSJUZ 
     3FTPVSDFNFUBEBUBNBOBHFNFOU  
     %0.USFFBDDFTTPST  
     $SFBUJOHEPDVNFOUT 
     &MFNFOUT 
     4FNBOUJDT  
     &MFNFOUTJOUIF%0.  
     (MPCBMBUUSJCVUFT  
     5IF JE BUUSJCVUF  
     5IF UJUMF BUUSJCVUF 
     5IF MBOH BOE YNMMBOH BUUSJCVUFT  
     5IF YNMCBTF BUUSJCVUF 9.-POMZ
     
     5IF EJS BUUSJCVUF 
     5IF DMBTT BUUSJCVUF 
     5IF TUZMF BUUSJCVUF 
     &NCFEEJOHDVTUPNOPOWJTJCMFEBUB  
     &MFNFOUEFИOJUJPOT  
     $POUFOUNPEFMT 
     ,JOETPGDPOUFOU  
     .FUBEBUBDPOUFOU  
     'MPXDPOUFOU  
     4FDUJPOJOHDPOUFOU 
     )FBEJOHDPOUFOU  
     1ISBTJOHDPOUFOU  
     &NCFEEFEDPOUFOU  
     *OUFSBDUJWFDPOUFOU  
     5SBOTQBSFOUDPOUFOUNPEFMT 
     1BSBHSBQIT  
     "OOPUBUJPOTGPSBTTJTUJWFUFDIOPMPHZQSPEVDUT "3*"
     
     "1*TJO)5.-EPDVNFOUT 
     *OUFSBDUJPOTXJUI91BUIBOE94-5 
     %ZOBNJDNBSLVQJOTFSUJPO 
     0QFOJOHUIFJOQVUTUSFBN  
     $MPTJOHUIFJOQVUTUSFBN 
     EPDVNFOUXSJUF
     
     EPDVNFOUXSJUFMO
     
     JOOFS)5.- 
     PVUFS)5.- 
     JOTFSU"EKBDFOU)5.-
     

     5IFFMFNFOUTPG)5.- 
     5IFSPPUFMFNFOU  
     5IF IUNM FMFNFOU  

    
     %PDVNFOUNFUBEBUB 
     5IF IFBE FMFNFOU  
     5IF UJUMF FMFNFOU  
     5IF CBTF FMFNFOU  
     5IF MJOL FMFNFOU  
     5IF NFUB FMFNFOU  
     4UBOEBSENFUBEBUBOBNFT 
     0UIFSNFUBEBUBOBNFT  
     1SBHNBEJSFDUJWFT  
     0UIFSQSBHNBEJSFDUJWFT  
     4QFDJGZJOHUIFEPDVNFOUTDIBSBDUFSFODPEJOH 
     5IF TUZMF FMFNFOU  
     4UZMJOH 
     4DSJQUJOH  
     5IF TDSJQU FMFNFOU  
     4DSJQUJOHMBOHVBHFT 
     3FTUSJDUJPOTGPSDPOUFOUTPG TDSJQU FMFNFOUT 
     *OMJOFEPDVNFOUBUJPOGPSFYUFSOBMTDSJQUT 
     5IF OPTDSJQU FMFNFOU 
     4FDUJPOT  
     5IF CPEZ FMFNFOU  
     5IF TFDUJPO FMFNFOU  
     5IF OBW FMFNFOU  
     5IF BSUJDMF FMFNFOU  
     5IF BTJEF FMFNFOU  
     5IF I I I I I BOE I FMFNFOUT  
     5IF IHSPVQ FMFNFOU  
     5IF IFBEFS FMFNFOU  
     5IF GPPUFS FMFNFOU  
     5IF BEESFTT FMFNFOU  
     )FBEJOHTBOETFDUJPOT  
     $SFBUJOHBOPVUMJOF 
     (SPVQJOHDPOUFOU 
     5IF Q FMFNFOU  
     5IF IS FMFNFOU  
     5IF QSF FMFNFOU  
     5IF CMPDLRVPUF FMFNFOU 
     5IF PM FMFNFOU  
     5IF VM FMFNFOU  
     5IF MJ FMFNFOU  
     5IF EM FMFNFOU  
     5IF EU FMFNFOU  
     5IF EE FMFNFOU  
     5IF GJHVSF FMFNFOU  
     5IF GJHDBQUJPO FMFNFOU 
     5IF EJW FMFNFOU  
     5FYUMFWFMTFNBOUJDT  
     5IF B FMFNFOU  
     5IF FN FMFNFOU  
     5IF TUSPOH FMFNFOU  
     5IF TNBMM FMFNFOU  
     5IF DJUF FMFNFOU  
     5IF R FMFNFOU  
     5IF EGO FMFNFOU  
     5IF BCCS FMFNFOU  
     5IF UJNF FMFNFOU  
     5IF DPEF FMFNFOU  
     5IF WBS FMFNFOU  
     5IF TBNQ FMFNFOU  
     5IF LCE FMFNFOU  
     5IF TVC BOE TVQ FMFNFOUT  
     5IF J FMFNFOU  
     5IF C FMFNFOU  
     5IF NBSL FMFNFOU  
     5IF SVCZ FMFNFOU  

    
     5IF SU FMFNFOU  
     5IF SQ FMFNFOU  
     5IF CEP FMFNFOU  
     5IF TQBO FMFNFOU  
     5IF CS FMFNFOU  
     5IF XCS FMFNFOU  
     6TBHFTVNNBSZ  
     &EJUT 
     5IF JOT FMFNFOU  
     5IF EFM FMFNFOU  
     "UUSJCVUFTDPNNPOUP JOT BOE EFM FMFNFOUT  
     &EJUTBOEQBSBHSBQIT  
     &EJUTBOEMJTUT 
     &NCFEEFEDPOUFOU  
     5IF JNH FMFNFOU  
     3FRVJSFNFOUTGPSQSPWJEJOHUFYUUPBDUBTBOBMUFSOBUJWFGPSJNBHFT 
     "MJOLPSCVUUPODPOUBJOJOHOPUIJOHCVUUIFJNBHF 
     "QISBTFPSQBSBHSBQIXJUIBOBMUFSOBUJWFHSBQIJDBM
    SFQSFTFOUBUJPODIBSUT EJBHSBNT HSBQIT NBQT JMMVTUSBUJPOT
     "TIPSUQISBTFPSMBCFMXJUIBOBMUFSOBUJWFHSBQIJDBM
    SFQSFTFOUBUJPOJDPOT MPHPT  
     5FYUUIBUIBTCFFOSFOEFSFEUPBHSBQIJDGPSUZQPHSBQIJDBM
    FЗFDU  
     "HSBQIJDBMSFQSFTFOUBUJPOPGTPNFPGUIFTVSSPVOEJOH
    UFYU  
     "QVSFMZEFDPSBUJWFJNBHFUIBUEPFTOUBEEBOZ
    JOGPSNBUJPO  
     "HSPVQPGJNBHFTUIBUGPSNBTJOHMFMBSHFSQJDUVSFXJUIOP
    MJOLT  
     "HSPVQPGJNBHFTUIBUGPSNBTJOHMFMBSHFSQJDUVSFXJUI
    MJOLT  
     "LFZQBSUPGUIFDPOUFOU 
     "OJNBHFOPUJOUFOEFEGPSUIFVTFS
     "OJNBHFJOBOFNBJMPSQSJWBUFEPDVNFOUJOUFOEFEGPSB
    TQFDJИDQFSTPOXIPJTLOPXOUPCFBCMFUPWJFXJNBHFT 
     (FOFSBMHVJEFMJOFT 
     (VJEBODFGPSNBSLVQHFOFSBUPST
     (VJEBODFGPSDPOGPSNBODFDIFDLFST 
     5IF JGSBNF FMFNFOU  
     5IF FNCFE FMFNFOU  
     5IF PCKFDU FMFNFOU  
     5IF QBSBN FMFNFOU  
     5IF WJEFP FMFNFOU  
     5IF BVEJP FMFNFOU  
     5IF TPVSDF FMFNFOU  
     .FEJBFMFNFOUT 
     &SSPSDPEFT  
     -PDBUJPOPGUIFNFEJBSFTPVSDF  
     .*.&UZQFT  
     /FUXPSLTUBUFT  
     -PBEJOHUIFNFEJBSFTPVSDF  
     0ЗTFUTJOUPUIFNFEJBSFTPVSDF  
     5IFSFBEZTUBUFT  
     1MBZJOHUIFNFEJBSFTPVSDF  
     4FFLJOH  
     6TFSJOUFSGBDF 
     5JNFSBOHFT  
     &WFOUTVNNBSZ  
     4FDVSJUZBOEQSJWBDZDPOTJEFSBUJPOT  
     5IF DBOWBT FMFNFOU  
     5IF%DPOUFYU 
     5IFDBOWBTTUBUF  
     5SBOTGPSNBUJPOT  
     $PNQPTJUJOH  
     $PMPSTBOETUZMFT  

    
     -JOFTUZMFT  
     4IBEPXT  
     4JNQMFTIBQFT SFDUBOHMFT
     
     $PNQMFYTIBQFT QBUIT
     
     'PDVTNBOBHFNFOU  
     5FYU 
     *NBHFT 
     1JYFMNBOJQVMBUJPO  
     %SBXJOHNPEFM  
     &YBNQMFT 
     $PMPSTQBDFTBOEDPMPSDPSSFDUJPO  
     4FDVSJUZXJUI DBOWBT FMFNFOUT  
     5IF NBQ FMFNFOU  
     5IF BSFB FMFNFOU  
     *NBHFNBQT  
     "VUIPSJOH  
     1SPDFTTJOHNPEFM  
     .BUI.-  
     47(  
     %JNFOTJPOBUUSJCVUFT  
     5BCVMBSEBUB  
     5IF UBCMF FMFNFOU  
     5IF DBQUJPO FMFNFOU  
     5IF DPMHSPVQ FMFNFOU 
     5IF DPM FMFNFOU  
     5IF UCPEZ FMFNFOU  
     5IF UIFBE FMFNFOU  
     5IF UGPPU FMFNFOU  
     5IF US FMFNFOU  
     5IF UE FMFNFOU  
     5IF UI FMFNFOU  
     "UUSJCVUFTDPNNPOUP UE BOE UI FMFNFOUT  
     1SPDFTTJOHNPEFM  
     'PSNJOHBUBCMF  
     'PSNJOHSFMBUJPOTIJQTCFUXFFOEBUBDFMMTBOEIFBEFSDFMMT 
     &YBNQMFT  
     'PSNT 
     *OUSPEVDUJPO 
     8SJUJOHBGPSNTVTFSJOUFSGBDF  
     *NQMFNFOUJOHUIFTFSWFSTJEFQSPDFTTJOHGPSBGPSN 
     $POИHVSJOHBGPSNUPDPNNVOJDBUFXJUIBTFSWFS 
     $MJFOUTJEFGPSNWBMJEBUJPO  
     $BUFHPSJFT 
     5IF GPSN FMFNFOU  
     5IF GJFMETFU FMFNFOU 
     5IF MFHFOE FMFNFOU  
     5IF MBCFM FMFNFOU  
     5IF JOQVU FMFNFOU  
     4UBUFTPGUIF UZQF BUUSJCVUF  
     )JEEFOTUBUF  
     5FYUTUBUFBOE4FBSDITUBUF  
     5FMFQIPOFTUBUF  
     63-TUBUF  
     &NBJMTUBUF  
     1BTTXPSETUBUF  
     %BUFBOE5JNFTUBUF  
     %BUFTUBUF 
     .POUITUBUF  
     8FFLTUBUF 
     5JNFTUBUF  
     -PDBM%BUFBOE5JNFTUBUF  
     /VNCFSTUBUF  
     3BOHFTUBUF  
     $PMPSTUBUF  
     $IFDLCPYTUBUF 

    
     3BEJP#VUUPOTUBUF 
     'JMF6QMPBETUBUF  
     4VCNJU#VUUPOTUBUF  
     *NBHF#VUUPOTUBUF 
     3FTFU#VUUPOTUBUF  
     #VUUPOTUBUF 
     $PNNPO JOQVU FMFNFOUBUUSJCVUFT  
     5IF BVUPDPNQMFUF BUUSJCVUF 
     5IF MJTU BUUSJCVUF  
     5IF SFBEPOMZ BUUSJCVUF  
     5IF TJ[F BUUSJCVUF  
     5IF SFRVJSFE BUUSJCVUF  
     5IF NVMUJQMF BUUSJCVUF  
     5IF NBYMFOHUI BUUSJCVUF  
     5IF QBUUFSO BUUSJCVUF  
     5IF NJO BOE NBY BUUSJCVUFT 
     5IF TUFQ BUUSJCVUF  
     5IF QMBDFIPMEFS BUUSJCVUF 
     $PNNPO JOQVU FMFNFOU"1*T 
     $PNNPOFWFOUCFIBWJPST  
     5IF CVUUPO FMFNFOU  
     5IF TFMFDU FMFNFOU  
     5IF EBUBMJTU FMFNFOU 
     5IF PQUHSPVQ FMFNFOU 
     5IF PQUJPO FMFNFOU  
     5IF UFYUBSFB FMFNFOU 
     5IF LFZHFO FMFNFOU  
     5IF PVUQVU FMFNFOU  
     5IF QSPHSFTT FMFNFOU 
     5IF NFUFS FMFNFOU  
     "TTPDJBUJPOPGDPOUSPMTBOEGPSNT  
     "UUSJCVUFTDPNNPOUPGPSNDPOUSPMT  
     /BNJOHGPSNDPOUSPMT 
     &OBCMJOHBOEEJTBCMJOHGPSNDPOUSPMT  
     "GPSNDPOUSPMTWBMVF  
     "VUPGPDVTJOHBGPSNDPOUSPM  
     -JNJUJOHVTFSJOQVUMFOHUI  
     'PSNTVCNJTTJPO  
     $POTUSBJOUT 
     %FИOJUJPOT  
     $POTUSBJOUWBMJEBUJPO  
     5IFDPOTUSBJOUWBMJEBUJPO"1* 
     4FDVSJUZ  
     'PSNTVCNJTTJPO  
     *OUSPEVDUJPO 
     *NQMJDJUTVCNJTTJPO 
     'PSNTVCNJTTJPOBMHPSJUIN  
     63-FODPEFEGPSNEBUB 
     .VMUJQBSUGPSNEBUB  
     1MBJOUFYUGPSNEBUB 
     3FTFUUJOHBGPSN  
     &WFOUEJTQBUDI  
     *OUFSBDUJWFFMFNFOUT 
     5IF EFUBJMT FMFNFOU  
     5IF TVNNBSZ FMFNFOU  
     5IF DPNNBOE FMFNFOU  
     5IF NFOV FMFNFOU  
     *OUSPEVDUJPO 
     #VJMEJOHNFOVTBOEUPPMCBST 
     $POUFYUNFOVT  
     5PPMCBST  
     $PNNBOET 
     6TJOHUIF B FMFNFOUUPEFИOFBDPNNBOE  
     6TJOHUIF CVUUPO FMFNFOUUPEFИOFBDPNNBOE 
     6TJOHUIF JOQVU FMFNFOUUPEFИOFBDPNNBOE

    
     6TJOHUIF PQUJPO FMFNFOUUPEFИOFBDPNNBOE 
     6TJOHUIF DPNNBOE FMFNFOUUPEFИOFBDPNNBOE 
     6TJOHUIF BDDFTTLFZ BUUSJCVUFPOB MBCFM FMFNFOUUPEFИOFB
    DPNNBOE  
     6TJOHUIF BDDFTTLFZ BUUSJCVUFPOB MFHFOE FMFNFOUUPEFИOFB
    DPNNBOE  
     6TJOHUIF BDDFTTLFZ BUUSJCVUFUPEFИOFBDPNNBOEPOPUIFS
    FMFNFOUT  
     5IF EFWJDF FMFNFOU  
     4USFBN"1*  
     1FFSUPQFFSDPOOFDUJPOT  
     -JOLT  
     )ZQFSMJOLFMFNFOUT  
     'PMMPXJOHIZQFSMJOLT 
     )ZQFSMJOLBVEJUJOH  
     -JOLUZQFT  
     -JOLUZQFBMUFSOBUF  
     -JOLUZQFBSDIJWFT  
     -JOLUZQFBVUIPS  
     -JOLUZQFCPPLNBSL  
     -JOLUZQFFYUFSOBM  
     -JOLUZQFIFMQ  
     -JOLUZQFJDPO  
     -JOLUZQFMJDFOTF  
     -JOLUZQFOPGPMMPX  
     -JOLUZQFOPSFGFSSFS 
     -JOLUZQFQJOHCBDL  
     -JOLUZQFQSFGFUDI  
     -JOLUZQFTFBSDI  
     -JOLUZQFTUZMFTIFFU 
     -JOLUZQFTJEFCBS  
     -JOLUZQFUBH 
     )JFSBSDIJDBMMJOLUZQFT  
     -JOLUZQFJOEFY  
     -JOLUZQFVQ  
     4FRVFOUJBMMJOLUZQFT  
     -JOLUZQFGJSTU  
     -JOLUZQFMBTU  
     -JOLUZQFOFYU  
     -JOLUZQFQSFW  
     0UIFSMJOLUZQFT 
     $PNNPOJEJPNTXJUIPVUEFEJDBUFEFMFNFOUT 
     5BHDMPVET  
     $POWFSTBUJPOT  
     'PPUOPUFT  
     .BUDIJOH)5.-FMFNFOUTVTJOHTFMFDUPST 
     $BTFTFOTJUJWJUZ 
     1TFVEPDMBTTFT 

     .JDSPEBUB  


     *OUSPEVDUJPO  
     0WFSWJFX 
     5IFCBTJDTZOUBY  
     5ZQFEJUFNT 
     (MPCBMJEFOUJИFSTGPSJUFNT 
     4FMFDUJOHOBNFTXIFOEFИOJOHWPDBCVMBSJFT  
     6TJOHUIFNJDSPEBUB%0."1*  
     &ODPEJOHNJDSPEBUB  
     5IFNJDSPEBUBNPEFM  
     *UFNT 
     /BNFTUIF JUFNQSPQ BUUSJCVUF 
     7BMVFT  
     "TTPDJBUJOHOBNFTXJUIJUFNT 
     .JDSPEBUB%0."1*  
     .JDSPEBUBWPDBCVMBSJFT 

    
     W$BSE  
     $POWFSTJPOUPW$BSE  
     &YBNQMFT 
     W&WFOU 
     $POWFSTJPOUPJ$BMFOEBS  
     &YBNQMFT 
     -JDFOTJOHXPSLT 
     $POWFSTJPOUP3%' 
     &YBNQMFT 
     $POWFSUJOH)5.-UPPUIFSGPSNBUT 
     +40/ 
     3%'  
     &YBNQMFT 
     "UPN  

     -PBEJOH8FCQBHFT  


     #SPXTJOHDPOUFYUT  
     /FTUFECSPXTJOHDPOUFYUT 
     /BWJHBUJOHOFTUFECSPXTJOHDPOUFYUTJOUIF%0.
     "VYJMJBSZCSPXTJOHDPOUFYUT  
     /BWJHBUJOHBVYJMJBSZCSPXTJOHDPOUFYUTJOUIF%0. 
     4FDPOEBSZCSPXTJOHDPOUFYUT  
     4FDVSJUZ 
     (SPVQJOHTPGCSPXTJOHDPOUFYUT 
     #SPXTJOHDPOUFYUOBNFT 
     5IF 8JOEPX PCKFDU  
     4FDVSJUZ 
     "1*TGPSDSFBUJOHBOEOBWJHBUJOHCSPXTJOHDPOUFYUTCZOBNF
     "DDFTTJOHPUIFSCSPXTJOHDPOUFYUT  
     /BNFEBDDFTTPOUIF 8JOEPX PCKFDU 
     (BSCBHFDPMMFDUJPOBOECSPXTJOHDPOUFYUT  
     #SPXTFSJOUFSGBDFFMFNFOUT  
     5IF 8JOEPX1SPYZ PCKFDU  
     0SJHJO 
     3FMBYJOHUIFTBNFPSJHJOSFTUSJDUJPO  
     4FTTJPOIJTUPSZBOEOBWJHBUJPO  
     5IFTFTTJPOIJTUPSZPGCSPXTJOHDPOUFYUT  
     5IF )JTUPSZ JOUFSGBDF  
     5IF -PDBUJPO JOUFSGBDF 
     4FDVSJUZ  
     *NQMFNFOUBUJPOOPUFTGPSTFTTJPOIJTUPSZ  
     #SPXTJOHUIF8FC  
     /BWJHBUJOHBDSPTTEPDVNFOUT  
     1BHFMPBEQSPDFTTJOHNPEFMGPS)5.-ИMFT  
     1BHFMPBEQSPDFTTJOHNPEFMGPS9.-ИMFT  
     1BHFMPBEQSPDFTTJOHNPEFMGPSUFYUИMFT 
     1BHFMPBEQSPDFTTJOHNPEFMGPSJNBHFT 
     1BHFMPBEQSPDFTTJOHNPEFMGPSDPOUFOUUIBUVTFTQMVHJOT 
     1BHFMPBEQSPDFTTJOHNPEFMGPSJOMJOFDPOUFOUUIBUEPFTOUIBWFB%0. 
     /BWJHBUJOHUPBGSBHNFOUJEFOUJИFS 
     )JTUPSZUSBWFSTBM  
     &WFOUEFИOJUJPOT  
     6OMPBEJOHEPDVNFOUT  
     &WFOUEFИOJUJPO  
     "CPSUJOHBEPDVNFOUMPBE 
     0ЛJOF8FCBQQMJDBUJPOT  
     *OUSPEVDUJPO 
     &WFOUTVNNBSZ  
     "QQMJDBUJPODBDIFT  
     5IFDBDIFNBOJGFTUTZOUBY  
     "TBNQMFNBOJGFTU  
     8SJUJOHDBDIFNBOJGFTUT  
     1BSTJOHDBDIFNBOJGFTUT 
     %PXOMPBEJOHPSVQEBUJOHBOBQQMJDBUJPODBDIF  
     5IFBQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN 

    
     $IBOHFTUPUIFOFUXPSLJOHNPEFM  
     &YQJSJOHBQQMJDBUJPODBDIFT  
     "QQMJDBUJPODBDIF"1* 
     #SPXTFSTUBUF  

     8FCBQQMJDBUJPO"1*T  


     4DSJQUJOH  
     *OUSPEVDUJPO 
     &OBCMJOHBOEEJTBCMJOHTDSJQUJOH  
     1SPDFTTJOHNPEFM  
     %FИOJUJPOT  
     $BMMJOHTDSJQUT 
     $SFBUJOHTDSJQUT  
     ,JMMJOHTDSJQUT  
     &WFOUMPPQT  
     %FИOJUJPOT  
     1SPDFTTJOHNPEFM  
     (FOFSJDUBTLTPVSDFT  
     5IF KBWBTDSJQU QSPUPDPM  
     &WFOUT  
     &WFOUIBOEMFST  
     &WFOUIBOEMFSTPOFMFNFOUT %PDVNFOU PCKFDUT BOE 8JOEPX PCKFDUT
     &WFOUИSJOH 
     &WFOUTBOEUIF 8JOEPX PCKFDU  
     3VOUJNFTDSJQUFSSPST 
     5JNFST 
     6TFSQSPNQUT  
     4JNQMFEJBMPHT 
     1SJOUJOH  
     %JBMPHTJNQMFNFOUFEVTJOHTFQBSBUFEPDVNFOUT  
     4ZTUFNTUBUFBOEDBQBCJMJUJFT 
     $MJFOUJEFOUJИDBUJPO  
     $VTUPNTDIFNFBOEDPOUFOUIBOEMFST 
     4FDVSJUZBOEQSJWBDZ  
     4BNQMFVTFSJOUFSGBDF  
     .BOVBMMZSFMFBTJOHUIFTUPSBHFNVUFY  

     6TFSJOUFSBDUJPO  


     5IF IJEEFO BUUSJCVUF  
     "DUJWBUJPO 
     4DSPMMJOHFMFNFOUTJOUPWJFX  
     'PDVT  
     4FRVFOUJBMGPDVTOBWJHBUJPO 
     'PDVTNBOBHFNFOU 
     %PDVNFOUMFWFMGPDVT"1*T 
     &MFNFOUMFWFMGPDVT"1*T  
     5IF BDDFTTLFZ BUUSJCVUF 
     5IFUFYUTFMFDUJPO"1*T  
     "1*TGPSUIFCSPXTJOHDPOUFYUTFMFDUJPO  
     "1*TGPSUIFUFYUИFMETFMFDUJPOT 
     5IF DPOUFOUFEJUBCMF BUUSJCVUF  
     6TFSFEJUJOHBDUJPOT  
     .BLJOHFOUJSFEPDVNFOUTFEJUBCMF 
     4QFMMJOHBOEHSBNNBSDIFDLJOH  
     %SBHBOEESPQ 
     *OUSPEVDUJPO 
     5IF %SBH&WFOU BOE %BUB5SBOTGFS JOUFSGBDFT  
     &WFOUTИSFEEVSJOHBESBHBOEESPQBDUJPO  
     %SBHBOEESPQQSPDFTTJOHNPEFM  
     8IFOUIFESBHBOEESPQPQFSBUJPOTUBSUTPSFOETJOBOPUIFS
    EPDVNFOU  
     8IFOUIFESBHBOEESPQPQFSBUJPOTUBSUTPSFOETJOBOPUIFS
    BQQMJDBUJPO  
     5IF ESBHHBCMF BUUSJCVUF  
     4FDVSJUZSJTLTJOUIFESBHBOEESPQNPEFM  

    
     6OEPIJTUPSZ  
     %FИOJUJPOT 
     5IF 6OEP.BOBHFS JOUFSGBDF  
     6OEPNPWJOHCBDLJOUIFVOEPUSBOTBDUJPOIJTUPSZ 
     3FEPNPWJOHGPSXBSEJOUIFVOEPUSBOTBDUJPOIJTUPSZ  
     5IF 6OEP.BOBHFS&WFOU JOUFSGBDFBOEUIF VOEP BOE SFEP FWFOUT
     *NQMFNFOUBUJPOOPUFT  
     &EJUJOH"1*T 

     $PNNVOJDBUJPO  


     &WFOUEFИOJUJPOT  
     $SPTTEPDVNFOUNFTTBHJOH 
     *OUSPEVDUJPO 
     4FDVSJUZ 
     "VUIPST 
     6TFSBHFOUT  
     1PTUJOHNFTTBHFT  
     1PTUJOHNFTTBHFTXJUINFTTBHFQPSUT  
     $IBOOFMNFTTBHJOH  
     *OUSPEVDUJPO 
     .FTTBHFDIBOOFMT 
     .FTTBHFQPSUT 
     1PSUTBOEHBSCBHFDPMMFDUJPO  

     5IF)5.-TZOUBY  


     8SJUJOH)5.-EPDVNFOUT 
     5IF%0$5:1&  
     &MFNFOUT  
     4UBSUUBHT  
     &OEUBHT  
     "UUSJCVUFT  
     0QUJPOBMUBHT 
     3FTUSJDUJPOTPODPOUFOUNPEFMT  
     3FTUSJDUJPOTPOUIFDPOUFOUTPGSBXUFYUBOE3$%"5"FMFNFOUT
     5FYU  
     /FXMJOFT 
     $IBSBDUFSSFGFSFODFT  
     $%"5"TFDUJPOT  
     $PNNFOUT 
     1BSTJOH)5.-EPDVNFOUT 
     0WFSWJFXPGUIFQBSTJOHNPEFM  
     5IFJOQVUTUSFBN 
     %FUFSNJOJOHUIFDIBSBDUFSFODPEJOH 
     $IBSBDUFSFODPEJOHT  
     1SFQSPDFTTJOHUIFJOQVUTUSFBN 
     $IBOHJOHUIFFODPEJOHXIJMFQBSTJOH  
     1BSTFTUBUF  
     5IFJOTFSUJPONPEF  
     5IFTUBDLPGPQFOFMFNFOUT  
     5IFMJTUPGBDUJWFGPSNBUUJOHFMFNFOUT 
     5IFFMFNFOUQPJOUFST  
     0UIFSQBSTJOHTUBUFЙBHT 
     5PLFOJ[BUJPO  
     %BUBTUBUF  
     $IBSBDUFSSFGFSFODFJOEBUBTUBUF  
     3$%"5"TUBUF 
     $IBSBDUFSSFGFSFODFJO3$%"5"TUBUF  
     3"85&95TUBUF 
     4DSJQUEBUBTUBUF 
     1-"*/5&95TUBUF 
     5BHPQFOTUBUF 
     &OEUBHPQFOTUBUF  
     5BHOBNFTUBUF 
     3$%"5"MFTTUIBOTJHOTUBUF 
     3$%"5"FOEUBHPQFOTUBUF 

    
     3$%"5"FOEUBHOBNFTUBUF 
     3"85&95MFTTUIBOTJHOTUBUF  
     3"85&95FOEUBHPQFOTUBUF  
     3"85&95FOEUBHOBNFTUBUF 
     4DSJQUEBUBMFTTUIBOTJHOTUBUF  
     4DSJQUEBUBFOEUBHPQFOTUBUF 
     4DSJQUEBUBFOEUBHOBNFTUBUF 
     4DSJQUEBUBFTDBQFTUBSUTUBUF  
     4DSJQUEBUBFTDBQFTUBSUEBTITUBUF 
     4DSJQUEBUBFTDBQFETUBUF  
     4DSJQUEBUBFTDBQFEEBTITUBUF  
     4DSJQUEBUBFTDBQFEEBTIEBTITUBUF  
     4DSJQUEBUBFTDBQFEMFTTUIBOTJHOTUBUF 
     4DSJQUEBUBFTDBQFEFOEUBHPQFOTUBUF 
     4DSJQUEBUBFTDBQFEFOEUBHOBNFTUBUF  
     4DSJQUEBUBEPVCMFFTDBQFTUBSUTUBUF  
     4DSJQUEBUBEPVCMFFTDBQFETUBUF 
     4DSJQUEBUBEPVCMFFTDBQFEEBTITUBUF  
     4DSJQUEBUBEPVCMFFTDBQFEEBTIEBTITUBUF
     4DSJQUEBUBEPVCMFFTDBQFEMFTTUIBOTJHOTUBUF 
     4DSJQUEBUBEPVCMFFTDBQFFOETUBUF  
     #FGPSFBUUSJCVUFOBNFTUBUF  
     "UUSJCVUFOBNFTUBUF  
     "GUFSBUUSJCVUFOBNFTUBUF 
     #FGPSFBUUSJCVUFWBMVFTUBUF  
     "UUSJCVUFWBMVF EPVCMFRVPUFE
    TUBUF  
     "UUSJCVUFWBMVF TJOHMFRVPUFE
    TUBUF  
     "UUSJCVUFWBMVF VORVPUFE
    TUBUF  
     $IBSBDUFSSFGFSFODFJOBUUSJCVUFWBMVFTUBUF 
     "GUFSBUUSJCVUFWBMVF RVPUFE
    TUBUF  
     4FMGDMPTJOHTUBSUUBHTUBUF  
     #PHVTDPNNFOUTUBUF  
     .BSLVQEFDMBSBUJPOPQFOTUBUF 
     $PNNFOUTUBSUTUBUF  
     $PNNFOUTUBSUEBTITUBUF 
     $PNNFOUTUBUF  
     $PNNFOUFOEEBTITUBUF  
     $PNNFOUFOETUBUF 
     $PNNFOUFOECBOHTUBUF 
     $PNNFOUFOETQBDFTUBUF  
     %0$5:1&TUBUF  
     #FGPSF%0$5:1&OBNFTUBUF  
     %0$5:1&OBNFTUBUF  
     "GUFS%0$5:1&OBNFTUBUF 
     "GUFS%0$5:1&QVCMJDLFZXPSETUBUF 
     #FGPSF%0$5:1&QVCMJDJEFOUJИFSTUBUF  
     %0$5:1&QVCMJDJEFOUJИFS EPVCMFRVPUFE
    TUBUF 
     %0$5:1&QVCMJDJEFOUJИFS TJOHMFRVPUFE
    TUBUF 
     "GUFS%0$5:1&QVCMJDJEFOUJИFSTUBUF  
     #FUXFFO%0$5:1&QVCMJDBOETZTUFNJEFOUJИFSTTUBUF
     "GUFS%0$5:1&TZTUFNLFZXPSETUBUF  
     #FGPSF%0$5:1&TZTUFNJEFOUJИFSTUBUF  
     %0$5:1&TZTUFNJEFOUJИFS EPVCMFRVPUFE
    TUBUF 
     %0$5:1&TZTUFNJEFOUJИFS TJOHMFRVPUFE
    TUBUF
     "GUFS%0$5:1&TZTUFNJEFOUJИFSTUBUF  
     #PHVT%0$5:1&TUBUF  
     $%"5"TFDUJPOTUBUF  
     5PLFOJ[JOHDIBSBDUFSSFGFSFODFT 
     5SFFDPOTUSVDUJPO  
     $SFBUJOHBOEJOTFSUJOHFMFNFOUT  
     $MPTJOHFMFNFOUTUIBUIBWFJNQMJFEFOEUBHT 
     'PTUFSQBSFOUJOH  
     5IFJOJUJBMJOTFSUJPONPEF 
     5IFCFGPSFIUNMJOTFSUJPONPEF  
     5IFCFGPSFIFBEJOTFSUJPONPEF  

    
     5IFJOIFBEJOTFSUJPONPEF 
     5IFJOIFBEOPTDSJQUJOTFSUJPONPEF  
     5IFBGUFSIFBEJOTFSUJPONPEF  
     5IFJOCPEZJOTFSUJPONPEF 
     5IFUFYUJOTFSUJPONPEF  
     5IFJOUBCMFJOTFSUJPONPEF 
     5IFJOUBCMFUFYUJOTFSUJPONPEF  
     5IFJODBQUJPOJOTFSUJPONPEF  
     5IFJODPMVNOHSPVQJOTFSUJPONPEF  
     5IFJOUBCMFCPEZJOTFSUJPONPEF 
     5IFJOSPXJOTFSUJPONPEF  
     5IFJODFMMJOTFSUJPONPEF  
     5IFJOTFMFDUJOTFSUJPONPEF  
     5IFJOTFMFDUJOUBCMFJOTFSUJPONPEF  
     5IFJOGPSFJHODPOUFOUJOTFSUJPONPEF  
     5IFBGUFSCPEZJOTFSUJPONPEF  
     5IFJOGSBNFTFUJOTFSUJPONPEF  
     5IFBGUFSGSBNFTFUJOTFSUJPONPEF  
     5IFBGUFSBGUFSCPEZJOTFSUJPONPEF 
     5IFBGUFSBGUFSGSBNFTFUJOTFSUJPONPEF  
     5IFFOE 
     $PFSDJOHBO)5.-%0.JOUPBOJOGPTFU 
     "OJOUSPEVDUJPOUPFSSPSIBOEMJOHBOETUSBOHFDBTFTJOUIFQBSTFS 
     .JTOFTUFEUBHTCJCJ  
     .JTOFTUFEUBHTCQCQ  
     6OFYQFDUFENBSLVQJOUBCMFT  
     4DSJQUTUIBUNPEJGZUIFQBHFBTJUJTCFJOHQBSTFE 
     4FSJBMJ[JOH)5.-GSBHNFOUT  
     1BSTJOH)5.-GSBHNFOUT  
     /BNFEDIBSBDUFSSFGFSFODFT  

     5IF9)5.-TZOUBY 
     8SJUJOH9)5.-EPDVNFOUT 
     1BSTJOH9)5.-EPDVNFOUT  
     4FSJBMJ[JOH9)5.-GSBHNFOUT  
     1BSTJOH9)5.-GSBHNFOUT 

     3FOEFSJOH  


     *OUSPEVDUJPO  
     5IF$44VTFSBHFOUTUZMFTIFFUBOEQSFTFOUBUJPOBMIJOUT 
     *OUSPEVDUJPO 
     %JTQMBZUZQFT  
     .BSHJOTBOEQBEEJOH  
     "MJHONFOU  
     'POUTBOEDPMPST 
     1VODUVBUJPOBOEEFDPSBUJPOT  
     3FTFUUJOHSVMFTGPSJOIFSJUFEQSPQFSUJFT  
     5IF IS FMFNFOU  
     5IF GJFMETFU FMFNFOU 
     3FQMBDFEFMFNFOUT  
     &NCFEEFEDPOUFOU 
     *NBHFT  
     "UUSJCVUFTGPSFNCFEEFEDPOUFOUBOEJNBHFT  
     *NBHFNBQT  
     5PPMCBST 
     #JOEJOHT 
     *OUSPEVDUJPO 
     5IF CVUUPO FMFNFOU  
     5IF EFUBJMT FMFNFOU  
     5IF JOQVU FMFNFOUBTBUFYUFOUSZXJEHFU 
     5IF JOQVU FMFNFOUBTEPNBJOTQFDJИDXJEHFUT 
     5IF JOQVU FMFNFOUBTBSBOHFDPOUSPM 
     5IF JOQVU FMFNFOUBTBDPMPSXFMM 
     5IF JOQVU FMFNFOUBTBDIFDLCPYBOESBEJPCVUUPOXJEHFUT 
     5IF JOQVU FMFNFOUBTBИMFVQMPBEDPOUSPM  

    
     5IF JOQVU FMFNFOUBTBCVUUPO  
     5IF NBSRVFF FMFNFOU  
     5IF NFUFS FMFNFOU  
     5IF QSPHSFTT FMFNFOU 
     5IF TFMFDU FMFNFOU  
     5IF UFYUBSFB FMFNFOU 
     5IF LFZHFO FMFNFOU  
     5IF UJNF FMFNFOU  
     'SBNFTBOEGSBNFTFUT  
     *OUFSBDUJWFNFEJB 
     -JOLT GPSNT BOEOBWJHBUJPO  
     5IF UJUMF BUUSJCVUF 
     &EJUJOHIPTUT  
     1SJOUNFEJB  

     0CTPMFUFGFBUVSFT  


     0CTPMFUFCVUDPOGPSNJOHGFBUVSFT  
     8BSOJOHTGPSPCTPMFUFCVUDPOGPSNJOHGFBUVSFT  
     /PODPOGPSNJOHGFBUVSFT  
     3FRVJSFNFOUTGPSJNQMFNFOUBUJPOT 
     5IF BQQMFU FMFNFOU  
     5IF NBSRVFF FMFNFOU  
     'SBNFT  
     0UIFSFMFNFOUT BUUSJCVUFTBOE"1*T  

     *"/"DPOTJEFSBUJPOT  


     UFYUIUNM  
     UFYUIUNMTBOECPYFE  
     BQQMJDBUJPOYIUNM YNM 
     UFYUDBDIFNBOJGFTU  
     UFYUQJOH  
     BQQMJDBUJPONJDSPEBUB KTPO  
     1JOH'SPN  
     1JOH5P  

    *OEFY  


    &MFNFOUT 
    &MFNFOUDPOUFOUDBUFHPSJFT 
    "UUSJCVUFT 
    *OUFSGBDFT 
    &WFOUT 

    3FGFSFODFT 

    "DLOPXMFEHFNFOUT  

    
     %HNLI>O=NCIH

      %MNBCM$0)(

    *78BB42C8>=8B=>==>A<0C8E4

    *OTIPSU:FT

    *ONPSFMFOHUI)5.-IBTBUWBSJPVTUJNFTCFFOVTFEUPSFGFSUPBXJEFWBSJFUZPGUFDIOPMPHJFT TPNFPGXIJDI
    PSJHJOBUFEJOUIJTEPDVNFOU BOETPNFPGXIJDIIBWFPOMZFWFSCFFOUBOHFOUJBMMZSFMBUFE

    5IJTTQFDJИDBUJPOBDUVBMMZOPXEFИOFTUIFOFYUHFOFSBUJPOPG)5.-BGUFS)5.-)5.-SFBDIFE-BTU$BMMBUUIF
    8)"58(JO0DUPCFS BOETIPSUMZBGUFSXFTUBSUFEXPSLJOHPOTPNFFYQFSJNFOUBMOFXGFBUVSFTUIBUBSFOPUBT
    TUBCMFBTUIFSFTUPGUIFTQFDJИDBUJPO5IFTUBCJMJUZPGTFDUJPOTJTBOOPUBUFEJOUIFNBSHJO

    5IF8$IBTBMTPCFFOXPSLJOHPO)5.-JODPOKVODUJPOXJUIUIF8)"58(BUUIF8$ UIJTEPDVNFOUIBTCFFOTQMJU
    JOUPTFWFSBMQBSUT BOEUIFPDDBTJPOBMJOGPSNBUJWFQBSBHSBQIPSFYBNQMFIBTCFFOSFNPWFEGPSUFDIOJDBMSFBTPOT'PS
    BMMJOUFOUTBOEQVSQPTFT IPXFWFS UIF8$)5.-TQFDJИDBUJPOTBOEUIJTTQFDJИDBUJPOBSFFRVJWBMFOU BOEUIFZBSFJO
    GBDUBMMHFOFSBUFEGSPNUIFTBNFTPVSDFEPDVNFOU
    

    'FBUVSFTUIBUBSFDPOTJEFSFEQBSUPGUIFOFYUHFOFSBUJPOPG)5.-CFZPOE)5.-DVSSFOUMZDPOTJTUPGPOMZ

    Ǭ 5IF EFWJDF Q FMFNFOU


    Ǭ 5IF QJOH Q BUUSJCVUFBOESFMBUFE IZQFSMJOLBVEJUJOH Q GFBUVSFT

    'FBUVSFTUIBUBSFQBSUPG)5.- BOEUIJTTQFDJИDBUJPO
    CVUUIBUBSFFJUIFSDVSSFOUMZ PSIBWFCFFOJOUIFQBTU
    QVCMJTIFEBTTFQBSBUFTQFDJИDBUJPOT

    Ǭ $BOWBT%(SBQIJDT$POUFYU Q
    Ǭ .JDSPEBUB Q
    Ǭ .JDSPEBUBWPDBCVMBSJFT Q
    Ǭ $SPTTEPDVNFOUNFTTBHJOH Q BMTPLOPXOBT$PNNVOJDBUJPOT

    Ǭ $IBOOFMNFTTBHJOH Q BMTPLOPXOBT$PNNVOJDBUJPOT

    Ǭ 'PSNT Q QSFWJPVTMZLOPXOBT8FC'PSNT

    'FBUVSFTUIBUBSFOPUDVSSFOUMZJOUIJTEPDVNFOUUIBUXFSFJOUIFQBTUDPOTJEFSFEQBSUPG)5.- PSUIBUXFSFOFWFS
    QBSUPG)5.-CVUIBWFCFFOSFGFSSFEUPBTQBSUPG)5.-JOUIFNFEJB JODMVEF

    Ǭ 8FC8PSLFST
    Ǭ 8FC4UPSBHF
    Ǭ 8FC4PDLFU"1*
    Ǭ 8FC4PDLFUQSPUPDPM
    Ǭ 4FSWFSTFOU&WFOUT
    Ǭ 8FC42-%BUBCBTF
    Ǭ (FPMPDBUJPO"1*
    Ǭ 47(
    Ǭ .BUI.-
    Ǭ 9.-)UUQ3FRVFTU

      ;=EALIOH>

    *78BB42C8>=8B=>==>A<0C8E4

    5IF8PSME8JEF8FCTNBSLVQMBOHVBHFIBTBMXBZTCFFO)5.-)5.-XBTQSJNBSJMZEFTJHOFEBTBMBOHVBHFGPS
    TFNBOUJDBMMZEFTDSJCJOHTDJFOUJИDEPDVNFOUT BMUIPVHIJUTHFOFSBMEFTJHOBOEBEBQUBUJPOTPWFSUIFZFBSTIBWF
    FOBCMFEJUUPCFVTFEUPEFTDSJCFBOVNCFSPGPUIFSUZQFTPGEPDVNFOUT

    5IFNBJOBSFBUIBUIBTOPUCFFOBEFRVBUFMZBEESFTTFECZ)5.-JTBWBHVFTVCKFDUSFGFSSFEUPBT8FC"QQMJDBUJPOT
    5IJTTQFDJИDBUJPOBUUFNQUTUPSFDUJGZUIJT XIJMFBUUIFTBNFUJNFVQEBUJOHUIF)5.-TQFDJИDBUJPOTUPBEESFTTJTTVFT
    SBJTFEJOUIFQBTUGFXZFBST

      O>C?H=?

    *78BB42C8>=8B=>==>A<0C8E4

    5IJTTQFDJИDBUJPOJTJOUFOEFEGPSBVUIPSTPGEPDVNFOUTBOETDSJQUTUIBUVTFUIFGFBUVSFTEFИOFEJOUIJTTQFDJИDBUJPO
    JNQMFNFOUPSTPGUPPMTUIBUPQFSBUFPOQBHFTUIBUVTFUIFGFBUVSFTEFИOFEJOUIJTTQFDJИDBUJPO BOEJOEJWJEVBMTXJTIJOH
    UPFTUBCMJTIUIFDPSSFDUOFTTPGEPDVNFOUTPSJNQMFNFOUBUJPOTXJUISFTQFDUUPUIFSFRVJSFNFOUTPGUIJTTQFDJИDBUJPO

    
    5IJTEPDVNFOUJTQSPCBCMZOPUTVJUFEUPSFBEFSTXIPEPOPUBMSFBEZIBWFBUMFBTUBQBTTJOHGBNJMJBSJUZXJUI8FC
    UFDIOPMPHJFT BTJOQMBDFTJUTBDSJИDFTDMBSJUZGPSQSFDJTJPO BOECSFWJUZGPSDPNQMFUFOFTT.PSFBQQSPBDIBCMFUVUPSJBMT
    BOEBVUIPSJOHHVJEFTDBOQSPWJEFBHFOUMFSJOUSPEVDUJPOUPUIFUPQJD

    *OQBSUJDVMBS GBNJMJBSJUZXJUIUIFCBTJDTPG%0.$PSFBOE%0.&WFOUTJTOFDFTTBSZGPSBDPNQMFUFVOEFSTUBOEJOHPG
    TPNFPGUIFNPSFUFDIOJDBMQBSUTPGUIJTTQFDJИDBUJPO"OVOEFSTUBOEJOHPG8FC*%- )551 9.- 6OJDPEF DIBSBDUFS
    FODPEJOHT +BWB4DSJQU BOE$44XJMMBMTPCFIFMQGVMJOQMBDFTCVUJTOPUFTTFOUJBM

      /=IJ?

    *78BB42C8>=8B=>==>A<0C8E4

    5IJTTQFDJИDBUJPOJTMJNJUFEUPQSPWJEJOHBTFNBOUJDMFWFMNBSLVQMBOHVBHFBOEBTTPDJBUFETFNBOUJDMFWFMTDSJQUJOH
    "1*TGPSBVUIPSJOHBDDFTTJCMFQBHFTPOUIF8FCSBOHJOHGSPNTUBUJDEPDVNFOUTUPEZOBNJDBQQMJDBUJPOT

    5IFTDPQFPGUIJTTQFDJИDBUJPOEPFTOPUJODMVEFQSPWJEJOHNFDIBOJTNTGPSNFEJBTQFDJИDDVTUPNJ[BUJPOPG
    QSFTFOUBUJPO BMUIPVHIEFGBVMUSFOEFSJOHSVMFTGPS8FCCSPXTFSTBSFJODMVEFEBUUIFFOEPGUIJTTQFDJИDBUJPO BOE
    TFWFSBMNFDIBOJTNTGPSIPPLJOHJOUP$44BSFQSPWJEFEBTQBSUPGUIFMBOHVBHF
    

    5IFTDPQFPGUIJTTQFDJИDBUJPOJTOPUUPEFTDSJCFBOFOUJSFPQFSBUJOHTZTUFN*OQBSUJDVMBS IBSEXBSFDPOИHVSBUJPO
    TPGUXBSF JNBHFNBOJQVMBUJPOUPPMT BOEBQQMJDBUJPOTUIBUVTFSTXPVMECFFYQFDUFEUPVTFXJUIIJHIFOEXPSLTUBUJPOT
    POBEBJMZCBTJTBSFPVUPGTDPQF*OUFSNTPGBQQMJDBUJPOT UIJTTQFDJИDBUJPOJTUBSHFUFETQFDJИDBMMZBUBQQMJDBUJPOTUIBU
    XPVMECFFYQFDUFEUPCFVTFECZVTFSTPOBOPDDBTJPOBMCBTJT PSSFHVMBSMZCVUGSPNEJTQBSBUFMPDBUJPOT XJUIMPX$16
    SFRVJSFNFOUT'PSJOTUBODFPOMJOFQVSDIBTJOHTZTUFNT TFBSDIJOHTZTUFNT HBNFT FTQFDJBMMZNVMUJQMBZFSPOMJOF
    HBNFT
    QVCMJDUFMFQIPOFCPPLTPSBEESFTTCPPLT DPNNVOJDBUJPOTTPGUXBSF FNBJMDMJFOUT JOTUBOUNFTTBHJOHDMJFOUT
    EJTDVTTJPOTPGUXBSF
    EPDVNFOUFEJUJOHTPGUXBSF FUD

      $CMNILS

    *78BB42C8>=8B=>==>A<0C8E4

    'PSJUTИSTUИWFZFBST 
    )5.-XFOUUISPVHIBOVNCFSPGSFWJTJPOTBOEFYQFSJFODFEBOVNCFSPGFYUFOTJPOT
    QSJNBSJMZIPTUFEИSTUBU$&3/ BOEUIFOBUUIF*&5'

    8JUIUIFDSFBUJPOPGUIF8$ )5.-TEFWFMPQNFOUDIBOHFEWFOVFBHBJO"ИSTUBCPSUJWFBUUFNQUBUFYUFOEJOH)5.-
    JOLOPXOBT)5.-UIFONBEFXBZUPBNPSFQSBHNBUJDBQQSPBDILOPXOBT)5.- XIJDIXBTDPNQMFUFE
    JO)5.-GPMMPXFE SFBDIJOHDPNQMFUJPOJO

    "UUIJTUJNF UIF8$NFNCFSTIJQEFDJEFEUPTUPQFWPMWJOH)5.-BOEJOTUFBECFHJOXPSLPOBO9.-CBTFE
    FRVJWBMFOU DBMMFE9)5.-5IJTFЗPSUTUBSUFEXJUIBSFGPSNVMBUJPOPG)5.-JO9.- LOPXOBT9)5.- XIJDIBEEFE
    OPOFXGFBUVSFTFYDFQUUIFOFXTFSJBMJ[BUJPO BOEXIJDIXBTDPNQMFUFEJO"GUFS9)5.- UIF8$TGPDVT
    UVSOFEUPNBLJOHJUFBTJFSGPSPUIFSXPSLJOHHSPVQTUPFYUFOE9)5.- VOEFSUIFCBOOFSPG9)5.-.PEVMBSJ[BUJPO*O
    QBSBMMFMXJUIUIJT UIF8$BMTPXPSLFEPOBOFXMBOHVBHFUIBUXBTOPUDPNQBUJCMFXJUIUIFFBSMJFS)5.-BOE9)5.-
    MBOHVBHFT DBMMJOHJU9)5.-

    "SPVOEUIFUJNFUIBU)5.-TFWPMVUJPOXBTTUPQQFEJO QBSUTPGUIF"1*GPS)5.-EFWFMPQFECZCSPXTFSWFOEPST
    XFSFTQFDJИFEBOEQVCMJTIFEVOEFSUIFOBNF%0.-FWFM JO
    BOE%0.-FWFM$PSFBOE%0.-FWFM)5.-
    TUBSUJOHJOBOEDVMNJOBUJOHJO
    5IFTFFЗPSUTUIFOQFUFSFEPVU XJUITPNF%0.-FWFMTQFDJИDBUJPOT
    QVCMJTIFEJOCVUUIFXPSLJOHHSPVQCFJOHDMPTFECFGPSFBMMUIF-FWFMESBGUTXFSFDPNQMFUFE

    *O UIFQVCMJDBUJPOPG9'PSNT BUFDIOPMPHZXIJDIXBTQPTJUJPOFEBTUIFOFYUHFOFSBUJPOPG8FCGPSNT TQBSLFEB


    SFOFXFEJOUFSFTUJOFWPMWJOH)5.-JUTFMG SBUIFSUIBOИOEJOHSFQMBDFNFOUTGPSJU5IJTJOUFSFTUXBTCPSOFGSPNUIF
    SFBMJ[BUJPOUIBU9.-TEFQMPZNFOUBTB8FCUFDIOPMPHZXBTMJNJUFEUPFOUJSFMZOFXUFDIOPMPHJFT MJLF344BOEMBUFS
    "UPN
    SBUIFSUIBOBTBSFQMBDFNFOUGPSFYJTUJOHEFQMPZFEUFDIOPMPHJFT MJLF)5.-
    

    "QSPPGPGDPODFQUUPTIPXUIBUJUXBTQPTTJCMFUPFYUFOE)5.-TGPSNTUPQSPWJEFNBOZPGUIFGFBUVSFTUIBU9'PSNT
    JOUSPEVDFE XJUIPVUSFRVJSJOHCSPXTFSTUPJNQMFNFOUSFOEFSJOHFOHJOFTUIBUXFSFJODPNQBUJCMFXJUIFYJTUJOH)5.-
    8FCQBHFT XBTUIFИSTUSFTVMUPGUIJTSFOFXFEJOUFSFTU"UUIJTFBSMZTUBHF XIJMFUIFESBGUXBTBMSFBEZQVCMJDMZ
    BWBJMBCMF BOEJOQVUXBTBMSFBEZCFJOHTPMJDJUFEGSPNBMMTPVSDFT UIFTQFDJИDBUJPOXBTPOMZVOEFS0QFSB4PGUXBSFT
    DPQZSJHIU

    5IFJEFBUIBU)5.-TFWPMVUJPOTIPVMECFSFPQFOFEXBTUFTUFEBUB8$XPSLTIPQJO XIFSFTPNFPGUIF
    QSJODJQMFTUIBUVOEFSMJFUIF)5.-XPSL EFTDSJCFECFMPX
    BTXFMMBTUIFBGPSFNFOUJPOFEFBSMZESBGUQSPQPTBMDPWFSJOH
    KVTUGPSNTSFMBUFEGFBUVSFT XFSFQSFTFOUFEUPUIF8$KPJOUMZCZ.P[JMMBBOE0QFSB5IFQSPQPTBMXBTSFKFDUFEPOUIF
    HSPVOETUIBUUIFQSPQPTBMDPOЙJDUFEXJUIUIFQSFWJPVTMZDIPTFOEJSFDUJPOGPSUIF8FCTFWPMVUJPOUIF8$TUBЗBOE
    NFNCFSTIJQWPUFEUPDPOUJOVFEFWFMPQJOH9.-CBTFESFQMBDFNFOUTJOTUFBE

    
    4IPSUMZUIFSFBGUFS "QQMF .P[JMMB BOE0QFSBKPJOUMZBOOPVODFEUIFJSJOUFOUUPDPOUJOVFXPSLJOHPOUIFFЗPSUVOEFSUIF
    VNCSFMMBPGBOFXWFOVFDBMMFEUIF8)"58("QVCMJDNBJMJOHMJTUXBTDSFBUFE BOEUIFESBGUXBTNPWFEUPUIF
    8)"58(TJUF5IFDPQZSJHIUXBTTVCTFRVFOUMZBNFOEFEUPCFKPJOUMZPXOFECZBMMUISFFWFOEPST BOEUPBMMPXSFVTF
    PGUIFTQFDJИDBUJPO

    5IF8)"58(XBTCBTFEPOTFWFSBMDPSFQSJODJQMFT JOQBSUJDVMBSUIBUUFDIOPMPHJFTOFFEUPCFCBDLXBSETDPNQBUJCMF
    UIBUTQFDJИDBUJPOTBOEJNQMFNFOUBUJPOTOFFEUPNBUDIFWFOJGUIJTNFBOTDIBOHJOHUIFTQFDJИDBUJPOSBUIFSUIBOUIF
    JNQMFNFOUBUJPOT BOEUIBUTQFDJИDBUJPOTOFFEUPCFEFUBJMFEFOPVHIUIBUJNQMFNFOUBUJPOTDBOBDIJFWFDPNQMFUF
    JOUFSPQFSBCJMJUZXJUIPVUSFWFSTFFOHJOFFSJOHFBDIPUIFS

    5IFMBUUFSSFRVJSFNFOUJOQBSUJDVMBSSFRVJSFEUIBUUIFTDPQFPGUIF)5.-TQFDJИDBUJPOJODMVEFXIBUIBEQSFWJPVTMZ
    CFFOTQFDJИFEJOUISFFTFQBSBUFEPDVNFOUT)5.- 9)5.- BOE%0.)5.-*UBMTPNFBOUJODMVEJOHTJHOJИDBOUMZ
    NPSFEFUBJMUIBOIBEQSFWJPVTMZCFFODPOTJEFSFEUIFOPSN

    *O UIF8$JOEJDBUFEBOJOUFSFTUUPQBSUJDJQBUFJOUIFEFWFMPQNFOUPG)5.-BGUFSBMM BOEJOGPSNFEB


    XPSLJOHHSPVQDIBSUFSFEUPXPSLXJUIUIF8)"58(POUIFEFWFMPQNFOUPGUIF)5.-TQFDJИDBUJPO"QQMF .P[JMMB
    BOE0QFSBBMMPXFEUIF8$UPQVCMJTIUIFTQFDJИDBUJPOVOEFSUIF8$DPQZSJHIU XIJMFLFFQJOHBWFSTJPOXJUIUIFMFTT
    SFTUSJDUJWFMJDFOTFPOUIF8)"58(TJUF

    4JODFUIFO CPUIHSPVQTIBWFCFFOXPSLJOHUPHFUIFS

    "TFQBSBUFEPDVNFOUIBTCFFOQVCMJTIFECZUIF8$)5.-XPSLJOHHSPVQUPEPDVNFOUUIFEJЗFSFODFTCFUXFFOUIJT
    TQFDJИDBUJPOBOEUIFMBOHVBHFEFTDSJCFEJOUIF)5.-TQFDJИDBUJPO <)5.-%*''> Q

      ?MCAHHIN?M

    *78BB42C8>=8B=>==>A<0C8E4

    *UNVTUCFBENJUUFEUIBUNBOZBTQFDUTPG)5.-BQQFBSBUИSTUHMBODFUPCFOPOTFOTJDBMBOEJODPOTJTUFOU

    )5.- JUTTVQQPSUJOH%0."1*T BTXFMMBTNBOZPGJUTTVQQPSUJOHUFDIOPMPHJFT IBWFCFFOEFWFMPQFEPWFSBQFSJPEPG


    TFWFSBMEFDBEFTCZBXJEFBSSBZPGQFPQMFXJUIEJЗFSFOUQSJPSJUJFTXIP JONBOZDBTFT EJEOPULOPXPGFBDIPUIFST
    FYJTUFODF

    'FBUVSFTIBWFUIVTBSJTFOGSPNNBOZTPVSDFT BOEIBWFOPUBMXBZTCFFOEFTJHOFEJOFTQFDJBMMZDPOTJTUFOUXBZT
    'VSUIFSNPSF CFDBVTFPGUIFVOJRVFDIBSBDUFSJTUJDTPGUIF8FC JNQMFNFOUBUJPOCVHTIBWFPGUFOCFDPNFEFGBDUP BOE
    OPXEFKVSF TUBOEBSET BTDPOUFOUJTPGUFOVOJOUFOUJPOBMMZXSJUUFOJOXBZTUIBUSFMZPOUIFNCFGPSFUIFZDBOCFИYFE

    %FTQJUFBMMUIJT FЗPSUTIBWFCFFONBEFUPBEIFSFUPDFSUBJOEFTJHOHPBMT5IFTFBSFEFTDSJCFEJOUIFOFYUGFX
    TVCTFDUJPOT

       /?LC;FCT;<CFCNSI@M=LCJN?R?=ONCIH

    *78BB42C8>=8B=>==>A<0C8E4

    5PBWPJEFYQPTJOH8FCBVUIPSTUPUIFDPNQMFYJUJFTPGNVMUJUISFBEJOH UIF)5.-BOE%0."1*TBSFEFTJHOFETVDIUIBU
    OPTDSJQUDBOFWFSEFUFDUUIFTJNVMUBOFPVTFYFDVUJPOPGPUIFSTDSJQUT&WFOXJUI XPSLFST UIFJOUFOUJTUIBUUIF
    CFIBWJPSPGJNQMFNFOUBUJPOTDBOCFUIPVHIUPGBTDPNQMFUFMZTFSJBMJ[JOHUIFFYFDVUJPOPGBMMTDSJQUTJOBMM CSPXTJOH
    DPOUFYUT Q 

    *HM> 0A> G:OB@:MHK RB>E=%HK1MHK:@>3I=:M>L I F>MAH= BGMABLFH=>E BL>JNBO:E>GMMH:EEHPBG@


    HMA>KL<KBIMLMHKNGPABE>MA><:EEBG@L<KBIMBL;EH<D>=

       IGJFC;H=?QCNBINB?LMJ?=C]=;NCIHM

    *78BB42C8>=8B=>==>A<0C8E4

    5IJTTQFDJИDBUJPOJOUFSBDUTXJUIBOESFMJFTPOBXJEFWBSJFUZPGPUIFSTQFDJИDBUJPOT*ODFSUBJODJSDVNTUBODFT
    VOGPSUVOBUFMZ DPOЙJDUJOHOFFETIBWFMFEUPUIJTTQFDJИDBUJPOWJPMBUJOHUIFSFRVJSFNFOUTPGUIFTFPUIFSTQFDJИDBUJPOT
    8IFOFWFSUIJTIBTPDDVSSFE UIFUSBOTHSFTTJPOTIBWFFBDICFFOOPUFEBTBQCFF@OFPCIF;NCIH BOEUIFSFBTPOGPSUIF
    WJPMBUJPOIBTCFFOOPUFE

    
      $0)(PM4$0)(

    *78BB42C8>=8B=>==>A<0C8E4

    5IJTTQFDJИDBUJPOEFИOFTBOBCTUSBDUMBOHVBHFGPSEFTDSJCJOHEPDVNFOUTBOEBQQMJDBUJPOT BOETPNF"1*TGPS
    JOUFSBDUJOHXJUIJONFNPSZSFQSFTFOUBUJPOTPGSFTPVSDFTUIBUVTFUIJTMBOHVBHF

    5IFJONFNPSZSFQSFTFOUBUJPOJTLOPXOBT%0.)5.- PSUIF%0.GPSTIPSU5IJTTQFDJИDBUJPOEFИOFTWFSTJPOPG
    %0.)5.- LOPXOBT%0.)5.-

    5IFSFBSFWBSJPVTDPODSFUFTZOUBYFTUIBUDBOCFVTFEUPUSBOTNJUSFTPVSDFTUIBUVTFUIJTBCTUSBDUMBOHVBHF UXPPG
    XIJDIBSFEFИOFEJOUIJTTQFDJИDBUJPO

    5IFИSTUTVDIDPODSFUFTZOUBYJTUIF)5.-TZOUBY5IJTJTUIFGPSNBUTVHHFTUFEGPSNPTUBVUIPST*UJTDPNQBUJCMFXJUI
    NPTUMFHBDZ8FCCSPXTFST*GBEPDVNFOUJTUSBOTNJUUFEXJUIBO )5.-.*.&UZQF Q TVDIBT UFYUIUNM Q UIFOJUXJMM
    CFQSPDFTTFEBTBO)5.-EPDVNFOUCZ8FCCSPXTFST5IJTTQFDJИDBUJPOEFИOFTUIFMBUFTU)5.-TZOUBY LOPXOTJNQMZ
    BT)5.-

    5IFTFDPOEDPODSFUFTZOUBYJTUIF9)5.-TZOUBY XIJDIJTBOBQQMJDBUJPOPG9.-8IFOBEPDVNFOUJTUSBOTNJUUFEXJUI
    BO 9.-.*.&UZQF Q TVDIBT BQQMJDBUJPOYIUNM YNM Q UIFOJUJTUSFBUFEBTBO9.-EPDVNFOUCZ8FCCSPXTFST UP
    CFQBSTFECZBO9.-QSPDFTTPS"VUIPSTBSFSFNJOEFEUIBUUIFQSPDFTTJOHGPS9.-BOE)5.-EJЗFSTJOQBSUJDVMBS
    FWFONJOPSTZOUBYFSSPSTXJMMQSFWFOUBEPDVNFOUMBCFMFEBT9.-GSPNCFJOHSFOEFSFEGVMMZ XIFSFBTUIFZXPVMECF
    JHOPSFEJOUIF)5.-TZOUBY5IJTTQFDJИDBUJPOEFИOFTUIFMBUFTU9)5.-TZOUBY LOPXOTJNQMZBT9)5.-

    5IF%0. UIF)5.-TZOUBY BOE9.-DBOOPUBMMSFQSFTFOUUIFTBNFDPOUFOU'PSFYBNQMF OBNFTQBDFTDBOOPUCF


    SFQSFTFOUFEVTJOHUIF)5.-TZOUBY CVUUIFZBSFTVQQPSUFEJOUIF%0.BOEJO9.-4JNJMBSMZ EPDVNFOUTUIBUVTFUIF
    OPTDSJQU Q GFBUVSFDBOCFSFQSFTFOUFEVTJOHUIF)5.-TZOUBY CVUDBOOPUCFSFQSFTFOUFEXJUIUIF%0.PSJO9.-
    $PNNFOUTUIBUDPOUBJOUIFTUSJOHDBOCFSFQSFTFOUFEJOUIF%0.CVUOPUJOUIF)5.-TZOUBYPSJO9.-

      /NLO=NOL?I@NBCMMJ?=C]=;NCIH

    *78BB42C8>=8B=>==>A<0C8E4

    5IJTTQFDJИDBUJPOJTEJWJEFEJOUPUIFGPMMPXJOHNBKPSTFDUJPOT

    IGGIHCH@L;MNLO=NOL? J
    5IFDPOGPSNBODFDMBTTFT BMHPSJUINT EFИOJUJPOT BOEUIFDPNNPOVOEFSQJOOJOHTPGUIFSFTUPGUIFTQFDJИDBUJPO

    /?G;HNC=M
    MNLO=NOL?
    ;H>,%MI@$0)(>I=OG?HNM J
    %PDVNFOUTBSFCVJMUGSPNFMFNFOUT5IFTFFMFNFOUTGPSNBUSFFVTJOHUIF%0.5IJTTFDUJPOEFИOFTUIFGFBUVSFT
    PGUIJT%0. BTXFMMBTJOUSPEVDJOHUIFGFBUVSFTDPNNPOUPBMMFMFNFOUT BOEUIFDPODFQUTVTFEJOEFИOJOH
    FMFNFOUT

    0B??F?G?HNMI@$0)( J
    &BDIFMFNFOUIBTBQSFEFИOFENFBOJOH XIJDIJTFYQMBJOFEJOUIJTTFDUJPO3VMFTGPSBVUIPSTPOIPXUPVTFUIF
    FMFNFOU BMPOHXJUIVTFSBHFOUSFRVJSFNFOUTGPSIPXUPIBOEMFFBDIFMFNFOU BSFBMTPHJWFO

    )C=LI>;N; J
    5IJTTQFDJИDBUJPOJOUSPEVDFTBNFDIBOJTNGPSBEEJOHNBDIJOFSFBEBCMFBOOPUBUJPOTUPEPDVNFOUT TPUIBUUPPMT
    DBOFYUSBDUUSFFTPGOBNFWBMVFQBJSTGSPNUIFEPDVNFOU5IJTTFDUJPOEFTDSJCFTUIJTNFDIBOJTN BOETPNF
    BMHPSJUINTUIBUDBOCFVTFEUPDPOWFSU)5.-EPDVNFOUTJOUPPUIFSGPSNBUT5IJTTFDUJPOBMTPEFИOFTTPNF
    .JDSPEBUBWPDBCVMBSJFTGPSDPOUBDUJOGPSNBUJPO DBMFOEBSFWFOUT BOEMJDFOTJOHXPSLT

    (I;>CHA3?<J;A?M J
    )5.-EPDVNFOUTEPOPUFYJTUJOBWBDVVNǡUIJTTFDUJPOEFИOFTNBOZPGUIFGFBUVSFTUIBUBЗFDUFOWJSPONFOUT
    UIBUEFBMXJUINVMUJQMFQBHFT

    3?<;JJFC=;NCIH,%M J
    5IJTTFDUJPOJOUSPEVDFTCBTJDGFBUVSFTGPSTDSJQUJOHPGBQQMJDBUJPOTJO)5.-

    1M?LCHN?L;=NCIH J
    )5.-EPDVNFOUTDBOQSPWJEFBOVNCFSPGNFDIBOJTNTGPSVTFSTUPJOUFSBDUXJUIBOENPEJGZDPOUFOU XIJDIBSF
    EFTDSJCFEJOUIJTTFDUJPO

    0B?=IGGOHC=;NCIH,%M J
    5IJTTFDUJPOEFTDSJCFTTPNFNFDIBOJTNTUIBUBQQMJDBUJPOTXSJUUFOJO)5.-DBOVTFUPDPNNVOJDBUFXJUIPUIFS
    BQQMJDBUJPOTGSPNEJЗFSFOUEPNBJOTSVOOJOHPOUIFTBNFDMJFOU

    
    0B?$0)(MSHN;R J
    0B?4$0)(MSHN;R J
    "MMPGUIFTFGFBUVSFTXPVMECFGPSOBVHIUJGUIFZDPVMEOUCFSFQSFTFOUFEJOBTFSJBMJ[FEGPSNBOETFOUUPPUIFS
    QFPQMF BOETPUIFTFTFDUJPOTEFИOFUIFTZOUBYFTPG)5.- BMPOHXJUISVMFTGPSIPXUPQBSTFDPOUFOUVTJOHUIPTF
    TZOUBYFT

    5IFSFBSFBMTPTPNFBQQFOEJDFT EFИOJOH SFOEFSJOHSVMFT Q GPS8FCCSPXTFSTBOEMJTUJOH PCTPMFUFGFBUVSFT Q BOE


    *"/"DPOTJEFSBUJPOT Q 

       $IQNIL?;>NBCMMJ?=C]=;NCIH

    5IJTTQFDJИDBUJPOTIPVMECFSFBEMJLFBMMPUIFSTQFDJИDBUJPOT'JSTU JUTIPVMECFSFBEDPWFSUPDPWFS NVMUJQMFUJNFT


    5IFO JUTIPVMECFSFBECBDLXBSETBUMFBTUPODF5IFOJUTIPVMECFSFBECZQJDLJOHSBOEPNTFDUJPOTGSPNUIFDPOUFOUT
    MJTUBOEGPMMPXJOHBMMUIFDSPTTSFGFSFODFT

       0SJIAL;JBC==IHP?HNCIHM

    5IJTJTBEFИOJUJPO SFRVJSFNFOU PSFYQMBOBUJPO

    *HM> 0ABLBL:GHM>

    5IJTJTBOFYBNQMF

    5IJTJTBOPQFOJTTVF

    [3;LHCHA 0ABLBL:P:KGBG@

    JOUFSGBDF #S<HKG@ \
    UIJTJTBO*%-EFGJOJUJPO
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    O:KB:;E>  H;C><M H@OCJ?7 HIMBHG:EK@NF>GM 8
    5IJTJTBOPUFUPBVUIPSTEFTDSJCJOHUIFVTBHFPGBOJOUFSGBDF

     UIJTJTB$44GSBHNFOU 

    5IFEFИOJOHJOTUBODFPGBUFSNJTNBSLFEVQMJLF NBCM6TFTPGUIBUUFSNBSFNBSLFEVQMJLF UIJT Q PSMJLF C78B ? 

    5IFEFИOJOHJOTUBODFPGBOFMFNFOU BUUSJCVUF PS"1*JTNBSLFEVQMJLF OCDN3FGFSFODFTUPUIBUFMFNFOU BUUSJCVUF PS


    "1*BSFNBSLFEVQMJLF UIJT Q 

    0UIFSDPEFGSBHNFOUTBSFNBSLFEVQ MJLFUIJT

    7BSJBCMFTBSFNBSLFEVQMJLF C78B

    5IJTJTBOJNQMFNFOUBUJPOSFRVJSFNFOU

      KOC=ECHNLI>O=NCIHNI$0)(

    *78BB42C8>=8B=>==>A<0C8E4

    "CBTJD)5.-EPDVNFOUMPPLTMJLFUIJT

    %0$5:1&IUNM
    IUNM
    IFBE
    UJUMF4BNQMFQBHFUJUMF
    IFBE
    CPEZ

    
    I4BNQMFQBHFI
    Q5IJTJTBBISFGEFNPIUNMTJNQMFBTBNQMFQ
    UIJTJTBDPNNFOU
    CPEZ
    IUNM

    )5.-EPDVNFOUTDPOTJTUPGBUSFFPGFMFNFOUTBOEUFYU&BDIFMFNFOUJTEFOPUFEJOUIFTPVSDFCZB TUBSUUBH Q TVDI


    BTCPEZ BOEBO FOEUBH Q TVDIBTCPEZ $FSUBJOTUBSUUBHTBOEFOEUBHTDBOJODFSUBJODBTFTCF
    PNJUUFE Q BOEBSFJNQMJFECZPUIFSUBHT

    5BHTIBWFUPCFOFTUFETVDIUIBUFMFNFOUTBSFBMMDPNQMFUFMZXJUIJOFBDIPUIFS XJUIPVUPWFSMBQQJOH

    Q5IJTJTFNWFSZTUSPOHXSPOHFNTUSPOHQ
    Q5IJTFNJTTUSPOHDPSSFDUTUSPOHFNQ

    5IJTTQFDJИDBUJPOEFИOFTBTFUPGFMFNFOUTUIBUDBOCFVTFEJO)5.- BMPOHXJUISVMFTBCPVUUIFXBZTJOXIJDIUIF
    FMFNFOUTDBOCFOFTUFE

    &MFNFOUTDBOIBWFBUUSJCVUFT XIJDIDPOUSPMIPXUIFFMFNFOUTXPSL*OUIFFYBNQMFCFMPX UIFSFJTB IZQFSMJOL Q


    GPSNFEVTJOHUIF B Q FMFNFOUBOEJUT ISFG Q BUUSJCVUF

    BISFGEFNPIUNMTJNQMFB

    "UUSJCVUFT Q BSFQMBDFEJOTJEFUIFTUBSUUBH BOEDPOTJTUPGB OBNF Q BOEB WBMVF Q TFQBSBUFECZBODIBSBDUFS
    5IFBUUSJCVUFWBMVFDBOSFNBJO VORVPUFE Q JGJUEPFTOUDPOUBJOTQBDFTPSBOZPG   A   PS 0UIFSXJTF JUIBTUPCF
    RVPUFEVTJOHFJUIFSTJOHMFPSEPVCMFRVPUFT5IFWBMVF BMPOHXJUIUIFDIBSBDUFS DBOCFPNJUUFEBMUPHFUIFSJGUIF
    WBMVFJTUIFFNQUZTUSJOH

    FNQUZBUUSJCVUFT
    JOQVUOBNFBEESFTTEJTBCMFE
    JOQVUOBNFBEESFTTEJTBCMFE

    BUUSJCVUFTXJUIBWBMVF
    JOQVUOBNFBEESFTTNBYMFOHUI
    JOQVUOBNFBEESFTTNBYMFOHUI
    JOQVUOBNFBEESFTTNBYMFOHUI

    )5.-VTFSBHFOUT FH8FCCSPXTFST
    UIFO ?0AB4 UIJTNBSLVQ UVSOJOHJUJOUPB%0. %PDVNFOU0CKFDU.PEFM
    USFF"
    %0.USFFJTBOJONFNPSZSFQSFTFOUBUJPOPGBEPDVNFOU

    %0.USFFTDPOUBJOTFWFSBMLJOETPGOPEFT JOQBSUJDVMBSB%0$5:1&OPEF FMFNFOUT UFYUOPEFT BOEDPNNFOUOPEFT

    5IF NBSLVQTOJQQFUBUUIFUPQPGUIJTTFDUJPO Q XPVMECFUVSOFEJOUPUIFGPMMPXJOH%0.USFF

    %0$5:1& IUNM Q


    COHG K
    C@<? K
    O@SO 
    ODOG@ K
    O@SO #&"&
    O@SO 
    O@SO 
    =J?T K
    O@SO 
    C K
    O@SO #&"&
    O@SO 
    K K
    O@SO  !(!(
    < K CM@AEFNPIUNM
    O@SO (!#&"
    O@SO (#&"
    O@SO 
    >JHH@IO ) !(!(%##$)
    O@SO 

    5IF SPPUFMFNFOU Q PGUIJTUSFFJTUIF IUNM Q FMFNFOU XIJDIJTUIFFMFNFOUBMXBZTGPVOEBUUIFSPPUPG)5.-


    EPDVNFOUT*UDPOUBJOTUXPFMFNFOUT IFBE Q BOE CPEZ Q BTXFMMBTBUFYUOPEFCFUXFFOUIFN

    
    5IFSFBSFNBOZNPSFUFYUOPEFTJOUIF%0.USFFUIBOPOFXPVMEJOJUJBMMZFYQFDU CFDBVTFUIFTPVSDFDPOUBJOTB
    OVNCFSPGTQBDFT SFQSFTFOUFEIFSFCZͯ
    BOEMJOFCSFBLT ͮ
    UIBUBMMFOEVQBTUFYUOPEFTJOUIF%0.

    5IF IFBE Q FMFNFOUDPOUBJOTB UJUMF Q FMFNFOU XIJDIJUTFMGDPOUBJOTBUFYUOPEFXJUIUIFUFYU4BNQMFQBHF


    4JNJMBSMZ UIF CPEZ Q FMFNFOUDPOUBJOTBO I Q FMFNFOU B Q Q FMFNFOU BOEBDPNNFOU

    5IJT%0.USFFDBOCFNBOJQVMBUFEGSPNTDSJQUTJOUIFQBHF4DSJQUT UZQJDBMMZJO+BWB4DSJQU
    BSFTNBMMQSPHSBNTUIBU
    DBOCFFNCFEEFEVTJOHUIF TDSJQU Q FMFNFOUPSVTJOH FWFOUIBOEMFSDPOUFOUBUUSJCVUFT Q 'PSFYBNQMF IFSFJTB
    GPSNXJUIBTDSJQUUIBUTFUTUIFWBMVFPGUIFGPSNT PVUQVU Q FMFNFOUUPTBZ)FMMP8PSME

    GPSN OBNFNBJO
    3FTVMUPVUQVU OBNFSFTVMUPVUQVU
    TDSJQU
    EPDVNFOUGPSNTNBJOFMFNFOUTSFTVMUWBMVF )FMMP8PSME
    TDSJQU
    GPSN

    &BDIFMFNFOUJOUIF%0.USFFJTSFQSFTFOUFECZBOPCKFDU BOEUIFTFPCKFDUTIBWF"1*TTPUIBUUIFZDBOCF
    NBOJQVMBUFE'PSJOTUBODF BMJOL FHUIF B Q FMFNFOUJOUIFUSFFBCPWF
    DBOIBWFJUTISFG Q BUUSJCVUFDIBOHFEJO
    TFWFSBMXBZT

    WBSB EPDVNFOUMJOLT<>PCUBJOUIFGJSTUMJOLJOUIFEPDVNFOU
    BISFG TBNQMFIUNMDIBOHFUIFEFTUJOBUJPO63-PGUIFMJOL
    BQSPUPDPM IUUQTDIBOHFKVTUUIFTDIFNFQBSUPGUIF63-
    BTFU"UUSJCVUF ISFG IUUQFYBNQMFDPN
    DIBOHFUIFDPOUFOUBUUSJCVUFEJSFDUMZ

    4JODF%0.USFFTBSFVTFEBTUIFXBZUPSFQSFTFOU)5.-EPDVNFOUTXIFOUIFZBSFQSPDFTTFEBOEQSFTFOUFECZ
    JNQMFNFOUBUJPOT FTQFDJBMMZJOUFSBDUJWFJNQMFNFOUBUJPOTMJLF8FCCSPXTFST
    UIJTTQFDJИDBUJPOJTNPTUMZQISBTFEJO
    UFSNTPG%0.USFFT JOTUFBEPGUIFNBSLVQEFTDSJCFEBCPWF

    )5.-EPDVNFOUTSFQSFTFOUBNFEJBJOEFQFOEFOUEFTDSJQUJPOPGJOUFSBDUJWFDPOUFOU)5.-EPDVNFOUTNJHIUCF
    SFOEFSFEUPBTDSFFO PSUISPVHIBTQFFDITZOUIFTJ[FS PSPOBCSBJMMFEJTQMBZ5PJOЙVFODFFYBDUMZIPXTVDISFOEFSJOH
    UBLFTQMBDF BVUIPSTDBOVTFBTUZMJOHMBOHVBHFTVDIBT$44

    *OUIFGPMMPXJOHFYBNQMF UIFQBHFIBTCFFONBEFZFMMPXPOCMVFVTJOH$44

    %0$5:1&IUNM
    IUNM
    IFBE
    UJUMF4BNQMFTUZMFEQBHFUJUMF
    TUZMF
    CPEZ\CBDLHSPVOEOBWZDPMPSZFMMPX^
    TUZMF
    IFBE
    CPEZ
    I4BNQMFTUZMFEQBHFI
    Q5IJTQBHFJTKVTUBEFNPQ
    CPEZ
    IUNM

    'PSNPSFEFUBJMTPOIPXUPVTF)5.- BVUIPSTBSFFODPVSBHFEUPDPOTVMUUVUPSJBMTBOEHVJEFT4PNFPGUIFFYBNQMFT
    JODMVEFEJOUIJTTQFDJИDBUJPONJHIUBMTPCFPGVTF CVUUIFOPWJDFBVUIPSJTDBVUJPOFEUIBUUIJTTQFDJИDBUJPO CZ
    OFDFTTJUZ EFИOFTUIFMBOHVBHFXJUIBMFWFMPGEFUBJMUIBUNJHIUCFEJКDVMUUPVOEFSTUBOEBUИSTU

      IH@ILG;H=?L?KOCL?G?HNM@IL;ONBILM

    *78BB42C8>=8B=>==>A<0C8E4

    6OMJLFQSFWJPVTWFSTJPOTPGUIF)5.-TQFDJИDBUJPO UIJTTQFDJИDBUJPOEFИOFTJOTPNFEFUBJMUIFSFRVJSFEQSPDFTTJOHGPS
    JOWBMJEEPDVNFOUTBTXFMMBTWBMJEEPDVNFOUT

    )PXFWFS FWFOUIPVHIUIFQSPDFTTJOHPGJOWBMJEDPOUFOUJTJONPTUDBTFTXFMMEFИOFE DPOGPSNBODFSFRVJSFNFOUTGPS


    EPDVNFOUTBSFTUJMMJNQPSUBOUJOQSBDUJDF JOUFSPQFSBCJMJUZ UIFTJUVBUJPOJOXIJDIBMMJNQMFNFOUBUJPOTQSPDFTT
    QBSUJDVMBSDPOUFOUJOBSFMJBCMFBOEJEFOUJDBMPSFRVJWBMFOUXBZ
    JTOPUUIFPOMZHPBMPGEPDVNFOUDPOGPSNBODF

    
    SFRVJSFNFOUT5IJTTFDUJPOEFUBJMTTPNFPGUIFNPSFDPNNPOSFBTPOTGPSTUJMMEJTUJOHVJTIJOHCFUXFFOBDPOGPSNJOH
    EPDVNFOUBOEPOFXJUIFSSPST

       ,L?M?HN;NCIH;FG;LEOJ

    *78BB42C8>=8B=>==>A<0C8E4

    5IFNBKPSJUZPGQSFTFOUBUJPOBMGFBUVSFTGSPNQSFWJPVTWFSTJPOTPG)5.-BSFOPMPOHFSBMMPXFE1SFTFOUBUJPOBMNBSLVQ
    JOHFOFSBMIBTCFFOGPVOEUPIBWFBOVNCFSPGQSPCMFNT

    0B?OM?I@JL?M?HN;NCIH;F?F?G?HNMF?;>MNIJIIL?L;==?MMC<CFCNS
    8IJMFJUJTQPTTJCMFUPVTFQSFTFOUBUJPOBMNBSLVQJOBXBZUIBUQSPWJEFTVTFSTPGBTTJTUJWFUFDIOPMPHJFT "5T
    XJUI
    BOBDDFQUBCMFFYQFSJFODF FHVTJOH"3*"
    EPJOHTPJTTJHOJИDBOUMZNPSFEJКDVMUUIBOEPJOHTPXIFOVTJOH
    TFNBOUJDBMMZBQQSPQSJBUFNBSLVQ'VSUIFSNPSF FWFOVTJOHTVDIUFDIOJRVFTEPFTOUIFMQNBLFQBHFTBDDFTTJCMF
    GPSOPO"5OPOHSBQIJDBMVTFST TVDIBTVTFSTPGUFYUNPEFCSPXTFST

    6TJOHNFEJBJOEFQFOEFOUNBSLVQ POUIFPUIFSIBOE QSPWJEFTBOFBTZXBZGPSEPDVNFOUTUPCFBVUIPSFEJO


    TVDIBXBZUIBUUIFZXPSLGPSNPSFVTFST FHUFYUCSPXTFST
    

    $CAB?L=IMNI@G;CHN?H;H=?
    *UJTTJHOJИDBOUMZFBTJFSUPNBJOUBJOBTJUFXSJUUFOJOTVDIBXBZUIBUUIFNBSLVQJTTUZMFJOEFQFOEFOU'PS
    FYBNQMF DIBOHJOHUIFDPMPSPGBTJUFUIBUVTFT GPOU DPMPS UISPVHIPVUSFRVJSFTDIBOHFTBDSPTTUIFFOUJSF
    TJUF XIFSFBTBTJNJMBSDIBOHFUPBTJUFCBTFEPO$44DBOCFEPOFCZDIBOHJOHBTJOHMFИMF

    $CAB?L>I=OG?HNMCT?M
    1SFTFOUBUJPOBMNBSLVQUFOETUPCFNVDINPSFSFEVOEBOU BOEUIVTSFTVMUTJOMBSHFSEPDVNFOUTJ[FT

    'PSUIPTFSFBTPOT QSFTFOUBUJPOBMNBSLVQIBTCFFOSFNPWFEGSPN)5.-JOUIJTWFSTJPO5IJTDIBOHFTIPVMEOPUDPNF
    BTBTVSQSJTF)5.-EFQSFDBUFEQSFTFOUBUJPOBMNBSLVQNBOZZFBSTBHPBOEQSPWJEFEBNPEF )5.-5SBOTJUJPOBM
    UP
    IFMQBVUIPSTNPWFBXBZGSPNQSFTFOUBUJPOBMNBSLVQMBUFS 9)5.-XFOUGVSUIFSBOEPCTPMFUFEUIPTFGFBUVSFT
    BMUPHFUIFS

    5IFPOMZSFNBJOJOHQSFTFOUBUJPOBMNBSLVQGFBUVSFTJO)5.-BSFUIF TUZMF Q BUUSJCVUFBOEUIF TUZMF Q FMFNFOU6TF


    PGUIF TUZMF Q BUUSJCVUFJTTPNFXIBUEJTDPVSBHFEJOQSPEVDUJPOFOWJSPONFOUT CVUJUDBOCFVTFGVMGPSSBQJE
    QSPUPUZQJOH XIFSFJUTSVMFTDBOCFEJSFDUMZNPWFEJOUPBTFQBSBUFTUZMFTIFFUMBUFS
    BOEGPSQSPWJEJOHTQFDJИDTUZMFTJO
    VOVTVBMDBTFTXIFSFBTFQBSBUFTUZMFTIFFUXPVMECFJODPOWFOJFOU4JNJMBSMZ UIF TUZMF Q FMFNFOUDBOCFVTFGVMJO
    TZOEJDBUJPOPSGPSQBHFTQFDJИDTUZMFT CVUJOHFOFSBMBOFYUFSOBMTUZMFTIFFUJTMJLFMZUPCFNPSFDPOWFOJFOUXIFOUIF
    TUZMFTBQQMZUPNVMUJQMFQBHFT

    *UJTBMTPXPSUIOPUJOHUIBUGPVSFMFNFOUTUIBUXFSFQSFWJPVTMZQSFTFOUBUJPOBMIBWFCFFOSFEFИOFEJOUIJTTQFDJИDBUJPO
    UPCFNFEJBJOEFQFOEFOU C Q J Q IS Q BOE TNBMM Q 

       /SHN;R?LLILM

    *78BB42C8>=8B=>==>A<0C8E4

    5IFTZOUBYPG)5.-JTDPOTUSBJOFEUPBWPJEBXJEFWBSJFUZPGQSPCMFNT

    1HCHNOCNCP??LLIL B;H>FCHA<?B;PCIL
    $FSUBJOJOWBMJETZOUBYDPOTUSVDUT XIFOQBSTFE SFTVMUJO%0.USFFTUIBUBSFIJHIMZVOJOUVJUJWF

    'PSFYBNQMF UIFGPMMPXJOHNBSLVQGSBHNFOUSFTVMUTJOB%0.XJUIBO IS Q FMFNFOUUIBUJTBO 40A;84A


    TJCMJOHPGUIFDPSSFTQPOEJOH UBCMF Q FMFNFOU

    UBCMFIS

    !LLILMQCNBIJNCIH;F?LLILL?=IP?LS
    5PBMMPXVTFSBHFOUTUPCFVTFEJODPOUSPMMFEFOWJSPONFOUTXJUIPVUIBWJOHUPJNQMFNFOUUIFNPSFCJ[BSSFBOE
    DPOWPMVUFEFSSPSIBOEMJOHSVMFT VTFSBHFOUTBSFQFSNJUUFEUPGBJMXIFOFWFSFODPVOUFSJOHB QBSTFFSSPS Q 

    !LLILMQB?L?NB??LLIL B;H>FCHA<?B;PCILCMHIN=IGJ;NC<F?QCNBMNL?;GCHAOM?L;A?HNM
    4PNFFSSPSIBOEMJOHCFIBWJPS TVDIBTUIFCFIBWJPSGPSUIF UBCMFIS FYBNQMFNFOUJPOFEBCPWF BSF
    JODPNQBUJCMFXJUITUSFBNJOHVTFSBHFOUT5PBWPJEJOUFSPQFSBCJMJUZQSPCMFNTXJUITVDIVTFSBHFOUT BOZTZOUBY
    SFTVMUJOHJOTVDICFIBWJPSJTDPOTJEFSFEJOWBMJE

    
    !LLILMNB;N=;HL?MOFNCHCH@IM?N=I?L=CIH
    8IFOBVTFSBHFOUCBTFEPO9.-JTDPOOFDUFEUPBO)5.-QBSTFS JUJTQPTTJCMFUIBUDFSUBJOJOWBSJBOUTUIBU9.-
    FOGPSDFT TVDIBTDPNNFOUTOFWFSDPOUBJOJOHUXPDPOTFDVUJWFIZQIFOT XJMMCFWJPMBUFECZBO)5.-ИMF
    )BOEMJOHUIJTDBOSFRVJSFUIBUUIFQBSTFSDPFSDFUIF)5.-%0.JOUPBO9.-DPNQBUJCMFJOGPTFU.PTUTZOUBY
    DPOTUSVDUTUIBUSFRVJSFTVDIIBOEMJOHBSFDPOTJEFSFEJOWBMJE

    !LLILMNB;NL?MOFNCH>CMJLIJILNCIH;FFSJIILJ?L@ILG;H=?
    $FSUBJOTZOUBYDPOTUSVDUTDBOSFTVMUJOEJTQSPQPSUJPOBMMZQPPSQFSGPSNBODF5PEJTDPVSBHFUIFVTFPGTVDI
    DPOTUSVDUT UIFZBSFUZQJDBMMZNBEFOPODPOGPSNJOH

    'PSFYBNQMF UIFGPMMPXJOHNBSLVQSFTVMUTJOQPPSQFSGPSNBODFXIFOIJUUJOHUIFIJHIMJHIUFEFOEUBH TJODF


    BMMUIFPQFOFMFNFOUTBSFFYBNJOFEИSTUUPTFFJGUIFZNBUDIUIFDMPTFUBH

    QFNTQBOTQBOTQBOTQBOTQBOTQBO@H

    !LLILMNB;NB?FJ;ONBILM;PIC>@L;ACF?MSHN;R=IHMNLO=NM
    5IFSFBSFTZOUBYDPOTUSVDUTUIBU GPSIJTUPSJDBMSFBTPOT BSFSFMBUJWFMZGSBHJMF5PIFMQSFEVDFUIFOVNCFSPGVTFST
    XIPBDDJEFOUBMMZSVOJOUPTVDIQSPCMFNT UIFZBSFNBEFOPODPOGPSNJOH

    'PSFYBNQMF UIFQBSTJOHPGDFSUBJOOBNFEDIBSBDUFSSFGFSFODFTJOBUUSJCVUFTIBQQFOTFWFOXJUIUIF
    DMPTJOHTFNJDPMPOCFJOHPNJUUFE*UJTTBGFUPJODMVEFBOBNQFSTBOEGPMMPXFECZMFUUFSTUIBUEPOPUGPSNB
    OBNFEDIBSBDUFSSFGFSFODF CVUJGUIFMFUUFSTBSFDIBOHFEUPBTUSJOHUIBU 3>4B GPSNBOBNFEDIBSBDUFS
    SFGFSFODF UIFZXJMMCFJOUFSQSFUFEBTUIBUDIBSBDUFSJOTUFBE

    *OUIJTGSBHNFOU UIFBUUSJCVUFTWBMVFJT IFMMPXPSME

    BISFG IFMMPXPSME%FNPB
    *OUIFGPMMPXJOHGSBHNFOU IPXFWFS UIFBUUSJCVUFTWBMVFJTBDUVBMMZ PSJHJOBMa =>C UIFJOUFOEFE
     PSJHJOBMDPQZ

    BISFG PSJHJOBMDPQZ$PNQBSFB
    5PBWPJEUIJTQSPCMFN BMMOBNFEDIBSBDUFSSFGFSFODFTBSFSFRVJSFEUPFOEXJUIBTFNJDPMPO BOEVTFTPG
    OBNFEDIBSBDUFSSFGFSFODFTXJUIPVUBTFNJDPMPOBSFЙBHHFEBTFSSPST

    5IVT UIFDPSSFDUXBZUPFYQSFTTUIFBCPWFDBTFTJTBTGPMMPXT

    BISFG IFMMPXPSME%FNPBXPSMEJTPL TJODFJUTOPUBOBNFE


    DIBSBDUFSSFGFSFODF
    BISFG PSJHJOBMBNQDPQZ$PNQBSFBUIFIBTUPCFFTDBQFE TJODF
    DPQZ DN BOBNFEDIBSBDUFSSFGFSFODF

    !LLILMNB;N^;AEHIQHCHN?LIJ?L;<CFCNSJLI<F?GMCHF?A;=SOM?L;A?HNM
    $FSUBJOTZOUBYDPOTUSVDUTBSFLOPXOUPDBVTFFTQFDJBMMZTVCUMFPSTFSJPVTQSPCMFNTJOMFHBDZVTFSBHFOUT BOE
    BSFUIFSFGPSFNBSLFEBTOPODPOGPSNJOHUPIFMQBVUIPSTBWPJEUIFN

    'PSFYBNQMF UIJTJTXIZUIF6 (3"7&"$$&/5DIBSBDUFS A


    JTOPUBMMPXFEJOVORVPUFEBUUSJCVUFT*O
    DFSUBJOMFHBDZVTFSBHFOUT JUJTTPNFUJNFTUSFBUFEBTBRVPUFDIBSBDUFS

    "OPUIFSFYBNQMFPGUIJTJTUIF%0$5:1& XIJDIJTSFRVJSFEUPUSJHHFS OPRVJSLTNPEF Q CFDBVTFUIF


    CFIBWJPSPGMFHBDZVTFSBHFOUTJO RVJSLTNPEF Q JTPGUFOMBSHFMZVOEPDVNFOUFE

    !LLILMNB;NJLIN?=N;ONBILM@LIGM?=OLCNS;NN;=EM
    $FSUBJOSFTUSJDUJPOTFYJTUQVSFMZUPBWPJELOPXOTFDVSJUZQSPCMFNT

    'PSFYBNQMF UIFSFTUSJDUJPOPOVTJOH65'FYJTUTQVSFMZUPBWPJEBVUIPSTGBMMJOHQSFZUPBLOPXODSPTT
    TJUFTDSJQUJOHBUUBDLVTJOH65'

    ;M?MQB?L?NB?;ONBILMCHN?HNCMOH=F?;L
    4PNFFSSPSTNFSFMZЙBHDBTFTXIFSFUIFBVUIPSTJOUFOUJTNPTUVODMFBS$PSSFDUJOHUIFTFFSSPSTFBSMZNBLFT
    MBUFSNBJOUFOBODFFBTJFS

    'PSFYBNQMF JUJTVODMFBSXIFUIFSUIFBVUIPSJOUFOEFEUIFGPMMPXJOHUPCFBO I Q IFBEJOHPSBO I Q


    IFBEJOH

    I$POUBDUEFUBJMTI

    
    ;M?MNB;N;L?FCE?FSNI<?NSJIM
    8IFOBVTFSNBLFTBTJNQMFUZQP JUJTIFMQGVMJGUIFFSSPSDBOCFDBVHIUFBSMZ BTUIJTDBOTBWFUIFBVUIPSBMPU
    PGEFCVHHJOHUJNF5IJTTQFDJИDBUJPOUIFSFGPSFVTVBMMZDPOTJEFSTJUBOFSSPSUPVTFFMFNFOUOBNFT BUUSJCVUF
    OBNFT BOETPGPSUI UIBUEPOPUNBUDIUIFOBNFTEFИOFEJOUIJTTQFDJИDBUJPO

    'PSFYBNQMF JGUIFBVUIPSUZQFE DBQUPO JOTUFBEPG DBQUJPO UIJTXPVMECFЙBHHFEBTBOFSSPSBOEUIF


    BVUIPSDPVMEDPSSFDUUIFUZQPJNNFEJBUFMZ

    !LLILMNB;N;FFIQ@ILH?QMSHN;RCH@ONOL?
    *OPSEFSUPBMMPXVTUPFYUFOEUIFMBOHVBHFTZOUBYJOUIFGVUVSF DFSUBJOPUIFSXJTFIBSNMFTTGFBUVSFTBSF
    EJTBMMPXFE

    'PSFYBNQMF BUUSJCVUFTJOFOEUBHTBSFJHOPSFEDVSSFOUMZ CVUUIFZBSFJOWBMJE JODBTFBGVUVSFDIBOHFUP


    UIFMBOHVBHFNBLFTVTFPGUIBUTZOUBYGFBUVSFXJUIPVUDPOЙJDUJOHXJUIBMSFBEZEFQMPZFE BOEWBMJE

    DPOUFOU

    4PNFBVUIPSTИOEJUIFMQGVMUPCFJOUIFQSBDUJDFPGBMXBZTRVPUJOHBMMBUUSJCVUFTBOEBMXBZTJODMVEJOHBMMPQUJPOBMUBHT
    QSFGFSSJOHUIFDPOTJTUFODZEFSJWFEGSPNTVDIDVTUPNPWFSUIFNJOPSCFOFИUTPGUFSTFOFTTBЗPSEFECZNBLJOHVTFPG
    UIFЙFYJCJMJUZPGUIF)5.-TZOUBY5PBJETVDIBVUIPST DPOGPSNBODFDIFDLFSTDBOQSPWJEFNPEFTPGPQFSBUJPOXIFSFJO
    TVDIDPOWFOUJPOTBSFFOGPSDFE

       .?MNLC=NCIHMIH=IHN?HNGI>?FM;H>IH;NNLC<ON?P;FO?M

    *78BB42C8>=8B=>==>A<0C8E4

    #FZPOEUIFTZOUBYPGUIFMBOHVBHF UIJTTQFDJИDBUJPOBMTPQMBDFTSFTUSJDUJPOTPOIPXFMFNFOUTBOEBUUSJCVUFTDBOCF
    TQFDJИFE5IFTFSFTUSJDUJPOTBSFQSFTFOUGPSTJNJMBSSFBTPOT

    !LLILMNB;N^;A=IHN?HNQCNB>O<CIOMM?G;HNC=M
    5PBWPJENJTVTFPGFMFNFOUTXJUIEFИOFENFBOJOHT DPOUFOUNPEFMTBSFEFИOFEUIBUSFTUSJDUIPXFMFNFOUTDBO
    CFOFTUFEXIFOTVDIOFTUJOHTXPVMECFPGEVCJPVTWBMVF

    'PSFYBNQMF UIJTTQFDJИDBUJPOEJTBMMPXTOFTUJOHB TFDUJPO Q FMFNFOUJOTJEFB LCE Q FMFNFOU TJODFJUJT


    IJHIMZVOMJLFMZGPSBOBVUIPSUPJOEJDBUFUIBUBOFOUJSFTFDUJPOTIPVMECFLFZFEJO

    !LLILMNB;NCH>C=;N?;=IH^C=NCH?RJL?MM?>M?G;HNC=M
    4JNJMBSMZ UPESBXUIFBVUIPSTBUUFOUJPOUPNJTUBLFTJOUIFVTFPGFMFNFOUT DMFBSDPOUSBEJDUJPOTJOUIFTFNBOUJDT
    FYQSFTTFEBSFBMTPDPOTJEFSFEDPOGPSNBODFFSSPST

    *OUIFGSBHNFOUTCFMPX GPSFYBNQMF UIFTFNBOUJDTBSFOPOTFOTJDBMBSPXDBOOPUTJNVMUBOFPVTMZCFB


    DFMM OPSDBOBSBEJPCVUUPOCFBQSPHSFTTCBS

    USSPMFDFMM
    JOQVUUZQFSBEJPSPMFQSPHSFTTCBS
    "OPUIFSFYBNQMFJTUIFSFTUSJDUJPOTPOUIFDPOUFOUNPEFMTPGUIF VM Q FMFNFOU XIJDIPOMZBMMPXT MJ Q
    FMFNFOUDIJMESFO-JTUTCZEFИOJUJPODPOTJTUKVTUPG[FSPPSNPSFMJTUJUFNT TPJGB VM Q FMFNFOUDPOUBJOT
    TPNFUIJOHPUIFSUIBOBO MJ Q FMFNFOU JUTOPUDMFBSXIBUXBTNFBOU

    !LLILMNB;N=;N=B=;M?MQB?L?NB?>?@;OFNMNSF?M;L?FCE?FSNIF?;>NI=IH@OMCIH
    $FSUBJOFMFNFOUTIBWFEFGBVMUTUZMFTPSCFIBWJPSTUIBUNBLFDFSUBJODPNCJOBUJPOTMJLFMZUPMFBEUPDPOGVTJPO
    8IFSFUIFTFIBWFFRVJWBMFOUBMUFSOBUJWFTXJUIPVUUIJTQSPCMFN UIFDPOGVTJOHDPNCJOBUJPOTBSFEJTBMMPXFE

    'PSFYBNQMF EJW Q FMFNFOUTBSFSFOEFSFEBTCMPDLCPYFT BOE TQBO Q FMFNFOUTBTJOMJOFCPYFT1VUUJOH


    BCMPDLCPYJOBOJOMJOFCPYJTVOOFDFTTBSJMZDPOGVTJOHTJODFFJUIFSOFTUJOHKVTU EJW Q FMFNFOUT PS
    OFTUJOHKVTU TQBO Q FMFNFOUT PSOFTUJOH TQBO Q FMFNFOUTJOTJEF EJW Q FMFNFOUTBMMTFSWFUIFTBNF
    QVSQPTFBTOFTUJOHB EJW Q FMFNFOUJOB TQBO Q FMFNFOU CVUPOMZUIFMBUUFSJOWPMWFTBCMPDLCPYJOBO
    JOMJOFCPY UIFMBUUFSDPNCJOBUJPOJTEJTBMMPXFE

    "OPUIFSFYBNQMFXPVMECFUIFXBZ JOUFSBDUJWFDPOUFOU Q DBOOPUCFOFTUFE'PSFYBNQMF B CVUUPO Q


    FMFNFOUDBOOPUDPOUBJOB UFYUBSFB Q FMFNFOU5IJTJTCFDBVTFUIFEFGBVMUCFIBWJPSPGTVDIOFTUJOH
    JOUFSBDUJWFFMFNFOUTXPVMECFIJHIMZDPOGVTJOHUPVTFST*OTUFBEPGOFTUJOHUIFTFFMFNFOUT UIFZDBOCF
    QMBDFETJEFCZTJEF

    !LLILMNB;N?H=IOL;A?;=ILL?=NOH>?LMN;H>CHAI@NB?MJ?=
    4PNFUJNFT TPNFUIJOHJTEJTBMMPXFECFDBVTFBMMPXJOHJUXPVMEMJLFMZDBVTFBVUIPSDPOGVTJPO

    
    'PSFYBNQMF TFUUJOHUIF EJTBCMFE Q BUUSJCVUFUPUIFWBMVFGBMTFJTEJTBMMPXFE CFDBVTFEFTQJUFUIF
    BQQFBSBODFPGNFBOJOHUIBUUIFFMFNFOUJTFOBCMFE JUJOGBDUNFBOTUIBUUIFFMFNFOUJT 38B01;43 XIBU
    NBUUFSTGPSJNQMFNFOUBUJPOTJTUIFQSFTFODFPGUIFBUUSJCVUF OPUJUTWBMVF
    

    !LLILMNB;N;L?CHN?H>?>G?L?FSNIMCGJFC@SNB?F;HAO;A?
    4PNFDPOGPSNBODFFSSPSTTJNQMJGZUIFMBOHVBHFUIBUBVUIPSTOFFEUPMFBSO

    'PSFYBNQMF UIF BSFB Q FMFNFOUT TIBQF Q BUUSJCVUF EFTQJUFBDDFQUJOHCPUI DJSD Q BOE DJSDMF Q
    WBMVFTJOQSBDUJDFBTTZOPOZNT EJTBMMPXTUIFVTFPGUIF DJSD Q WBMVF TPBTUPTJNQMJGZUVUPSJBMTBOE
    PUIFSMFBSOJOHBJET5IFSFXPVMECFOPCFOFИUUPBMMPXJOHCPUI CVUJUXPVMEDBVTFFYUSBDPOGVTJPOXIFO
    UFBDIJOHUIFMBOHVBHF

    !LLILMNB;N;PIC>J?=OFC;LCNC?MI@NB?J;LM?L
    $FSUBJOFMFNFOUTBSFQBSTFEJOTPNFPOFFDDFOUSJDXBZT UZQJDBMMZGPSIJTUPSJDBMSFBTPOT
    BOEUIFJSDPOUFOUNPEFM
    SFTUSJDUJPOTBSFJOUFOEFEUPBWPJEFYQPTJOHUIFBVUIPSUPUIFTFJTTVFT

    'PSFYBNQMF B GPSN Q FMFNFOUJTOUBMMPXFEJOTJEF QISBTJOHDPOUFOU Q CFDBVTFXIFOQBSTFEBT)5.- B


    GPSN Q FMFNFOUTTUBSUUBHXJMMJNQMZB Q Q FMFNFOUTFOEUBH5IVT UIFGPMMPXJOHNBSLVQSFTVMUTJOUXP
    QBSBHSBQIT Q OPUPOF

    Q8FMDPNFGPSNMBCFM/BNFMBCFMJOQVUGPSN
    *UJTQBSTFEFYBDUMZMJLFUIFGPMMPXJOH

    Q8FMDPNFQGPSNMBCFM/BNFMBCFMJOQVUGPSN

    !LLILMNB;NQIOF>FCE?FSL?MOFNCHM=LCJNM@;CFCHACHB;L> NI >?<OAQ;SM
    4PNFFSSPSTBSFJOUFOEFEUPIFMQQSFWFOUTDSJQUQSPCMFNTUIBUXPVMECFIBSEUPEFCVH

    5IJTJTXIZ GPSJOTUBODF JUJTOPODPOGPSNJOHUPIBWFUXP JE Q BUUSJCVUFTXJUIUIFTBNFWBMVF%VQMJDBUF


    *%TMFBEUPUIFXSPOHFMFNFOUCFJOHTFMFDUFE XJUITPNFUJNFTEJTBTUSPVTFЗFDUTXIPTFDBVTFJTIBSEUP
    EFUFSNJOF

    !LLILMNB;N;L?CHN?H>?>NIM;P?NB?;ONBILNCG?
    4PNFDPOTUSVDUTBSFEJTBMMPXFECFDBVTFIJTUPSJDBMMZUIFZIBWFCFFOUIFDBVTFPGBMPUPGXBTUFEBVUIPSJOHUJNF

    'PSFYBNQMF B TDSJQU Q FMFNFOUT TSD Q BUUSJCVUFDBVTFTUIFFMFNFOUTDPOUFOUTUPCFJHOPSFE


    )PXFWFS UIJTJTOUPCWJPVT FTQFDJBMMZJGUIFFMFNFOUTDPOUFOUTBQQFBSUPCFFYFDVUBCMFTDSJQUǡXIJDI
    DBOMFBEUPBVUIPSTTQFOEJOHBMPUPGUJNFUSZJOHUPEFCVHUIFJOMJOFTDSJQUXJUIPVUSFBMJTJOHUIBUJUJTOPU
    FYFDVUJOH5PSFEVDFUIJTQSPCMFN UIJTTQFDJИDBUJPONBLFTJUOPODPOGPSNJOHUPIBWFFYFDVUBCMFTDSJQUJO
    B TDSJQU Q FMFNFOUXIFOUIF TSD Q BUUSJCVUFJTQSFTFOU5IJTNFBOTUIBUBVUIPSTXIPBSFWBMJEBUJOH
    UIFJSEPDVNFOUTBSFMFTTMJLFMZUPXBTUFUJNFXJUIUIJTLJOEPGNJTUBLF

    !LLILMNB;N;L?CHN?H>?>NIB?FJ;ONBILMGCAL;NCHANI;H>@LIG4$0)(
    4PNFBVUIPSTMJLFUPXSJUFИMFTUIBUDBOCFJOUFSQSFUFEBTCPUI9.-BOE)5.-XJUITJNJMBSSFTVMUT5IPVHIUIJT
    QSBDUJDFJTEJTDPVSBHFEJOHFOFSBMEVFUPUIFNZSJBEPGTVCUMFDPNQMJDBUJPOTJOWPMWFE FTQFDJBMMZXIFOJOWPMWJOH
    TDSJQUJOH TUZMJOH PSBOZLJOEPGBVUPNBUFETFSJBMJ[BUJPO
    UIJTTQFDJИDBUJPOIBTBGFXSFTUSJDUJPOTJOUFOEFEUPBU
    MFBTUTPNFXIBUNJUJHBUFUIFEJКDVMUJFT5IJTNBLFTJUFBTJFSGPSBVUIPSTUPVTFUIJTBTBUSBOTJUJPOBSZTUFQXIFO
    NJHSBUJOHCFUXFFO)5.-BOE9)5.-

    'PSFYBNQMF UIFSFBSFTPNFXIBUDPNQMJDBUFESVMFTTVSSPVOEJOHUIF MBOH Q BOE YNMMBOH Q BUUSJCVUFT


    JOUFOEFEUPLFFQUIFUXPTZODISPOJ[FE

    "OPUIFSFYBNQMFXPVMECFUIFSFTUSJDUJPOTPOUIFWBMVFTPG YNMOT BUUSJCVUFTJOUIF)5.-TFSJBMJ[BUJPO


    XIJDIBSFJOUFOEFEUPFOTVSFUIBUFMFNFOUTJODPOGPSNJOHEPDVNFOUTFOEVQJOUIFTBNFOBNFTQBDFT
    XIFUIFSQSPDFTTFEBT)5.-PS9.-

    !LLILMNB;NL?M?LP?MJ;=?@IL@ONOL??RJ;HMCIH
    "TXJUIUIFSFTUSJDUJPOTPOUIFTZOUBYJOUFOEFEUPBMMPXGPSOFXTZOUBYJOGVUVSFSFWJTJPOTPGUIFMBOHVBHF TPNF
    SFTUSJDUJPOTPOUIFDPOUFOUNPEFMTPGFMFNFOUTBOEWBMVFTPGBUUSJCVUFTBSFJOUFOEFEUPBMMPXGPSGVUVSFFYQBOTJPO
    PGUIF)5.-WPDBCVMBSZ

    'PSFYBNQMF MJNJUJOHUIFWBMVFTPGUIF UBSHFU Q BUUSJCVUFUIBUTUBSUXJUIBO6 '-08-*/&DIBSBDUFS


    @
    UPPOMZTQFDJИDQSFEFИOFEWBMVFTBMMPXTOFXQSFEFИOFEWBMVFTUPCFJOUSPEVDFEBUBGVUVSFUJNF
    XJUIPVUDPOЙJDUJOHXJUIBVUIPSEFИOFEWBMVFT

    !LLILMNB;NCH>C=;N?;GCM OM?I@INB?LMJ?=C]=;NCIHM
    $FSUBJOSFTUSJDUJPOTBSFJOUFOEFEUPTVQQPSUUIFSFTUSJDUJPOTNBEFCZPUIFSTQFDJИDBUJPOT

    
    'PSFYBNQMF SFRVJSJOHUIBUBUUSJCVUFTUIBUUBLFNFEJBRVFSJFTVTFPOMZ E0;83 NFEJBRVFSJFTSFJOGPSDFTUIF
    JNQPSUBODFPGGPMMPXJOHUIFDPOGPSNBODFSVMFTPGUIBUTQFDJИDBUJPO

      .?=IGG?H>?>L?;>CHA

    *78BB42C8>=8B=>==>A<0C8E4

    5IFGPMMPXJOHEPDVNFOUTNJHIUCFPGJOUFSFTUUPSFBEFSTPGUIJTTQFDJИDBUJPO

    A:K:<M>K)H=>E?HKMA>3HKE=3B=>3>; "NG=:F>GM:EL 7$.)+ 8 J


    *78BA278C42CDA0;)?428P20C8>=?A>E834B0DC7>AB>5B?428P20C8>=BB>5CF0A434E4;>?4AB0=32>=C4=C
    34E4;>?4ABF8C702><<>=A454A4=245>A8=C4A>?4A01;4C4GC<0=8?D;0C8>=>=C74->A;3-834-411D8;38=6>=
    C74+=8E4AB0;70A02C4A)4C34P=439>8=C;H1HC74+=82>34)C0=30A30=3)%
      *>?82B033A4BB43
    8=2;D34DB4>5C74C4A<B270A02C4A4=2>38=60=3BCA8=60A454A4=24?A>24BB8=6<>34;27>8240=3
    834=C8P20C8>=>5270A02C4A4=2>38=6B270A02C4A4B20?8=60=3BCA8=68=34G8=6

    1GB<H=>/><NKBMRHGLB=>K:MBHGL 710.8 J


    420DB4+=82>342>=C08=BBD270;0A64=D<14A>5270A02C4AB0=38=2>A?>A0C4BC74E0A843FA8C8=6BHBC4<B>5
    C74F>A;38=2>AA42CDB06420=4G?>B4?A>6A0<B>ABHBC4<BC>?>BB81;4B42DA8CH0CC02:B *78B8B4B?4280;;H
    8<?>AC0=C0B<>A40=3<>A4?A>3D2CB0A48=C4A=0C8>=0;8I43 *78B3>2D<4=C34B2A814BB><4>5C74B42DA8CH
    2>=B834A0C8>=BC70C?A>6A0<<4ABBHBC4<0=0;HBCBBC0=30A3B34E4;>?4AB0=3DB4ABB7>D;3C0:48=C>
    022>D=C0=3?A>E834BB?428P2A42><<4=30C8>=BC>A43D24C74A8B:>5?A>1;4<B

    3>;HGM>GM<<>LLB;BEBMR#NB=>EBG>L3# 73#8 J


    -41>=C4=C224BB818;8CHD834;8=4B- 2>E4AB0F834A0=64>5A42><<4=30C8>=B5>A<0:8=6-41
    2>=C4=C<>A40224BB81;4 >;;>F8=6C74B46D834;8=4BF8;;<0:42>=C4=C0224BB81;4C>0F834AA0=64>5?4>?;4
    F8C738B018;8C84B8=2;D38=61;8=3=4BB0=3;>FE8B8>=3405=4BB0=3740A8=6;>BB;40A=8=638B018;8C84B2>6=8C8E4
    ;8<8C0C8>=B;8<8C43<>E4<4=CB?442738B018;8C84B?7>C>B4=B8C8E8CH0=32><18=0C8>=B>5C74B4 >;;>F8=6
    C74B46D834;8=4BF8;;0;B>>5C4=<0:4H>DA-412>=C4=C<>A4DB01;4C>DB4AB8=64=4A0;

    NMAHKBG@0HHE<<>LLB;BEBMR#NB=>EBG>L0# 70#8 J


    *78BB?428P20C8>=?A>E834B6D834;8=4B5>A34B86=8=6-412>=C4=C0DC7>A8=6C>>;BC70C0A4<>A40224BB81;45>A
    ?4>?;4F8C738B018;8C84B =0DC7>A8=6C>>;C70C2>=5>A<BC>C74B46D834;8=4BF8;;?A><>C40224BB818;8CH1H
    ?A>E838=60=0224BB81;4DB4A8=C4A5024C>0DC7>ABF8C738B018;8C84B0BF4;;0B1H4=01;8=6BD??>AC8=60=3
    ?A><>C8=6C74?A>3D2C8>=>50224BB81;4-412>=C4=C1H0;;0DC7>AB

    1L>K@>GM<<>LLB;BEBMR#NB=>EBG>L1# 71#8 J


    *78B3>2D<4=C?A>E834B6D834;8=4B5>A34B86=8=6DB4A064=CBC70C;>F4A10AA84ABC>-410224BB818;8CH5>A
    ?4>?;4F8C738B018;8C84B +B4A064=CB8=2;D341A>FB4AB0=3>C74ACH?4B>5B>5CF0A4C70CA4CA84E40=3A4=34A
    -412>=C4=C DB4A064=CC70C2>=5>A<BC>C74B46D834;8=4BF8;;?A><>C40224BB818;8CHC7A>D678CB>F=DB4A
    8=C4A50240=3C7A>D67>C74A8=C4A=0;5028;8C84B8=2;D38=68CB018;8CHC>2><<D=820C4F8C7>C74AC427=>;>684B
    4B?4280;;H0BB8BC8E4C427=>;>684B DAC74A<>A40;;DB4AB=>C9DBCDB4ABF8C738B018;8C84BB7>D;3P=3
    2>=5>A<8=6DB4A064=CBC>14<>A4DB01;4

    
     IGGIHCH@L;MNLO=NOL?

      0?LGCHIFIAS

    5IJTTQFDJИDBUJPOSFGFSTUPCPUI)5.-BOE9.-BUUSJCVUFTBOE*%-BUUSJCVUFT PGUFOJOUIFTBNFDPOUFYU8IFOJUJTOPU
    DMFBSXIJDIJTCFJOHSFGFSSFEUP UIFZBSFSFGFSSFEUPBT =IHN?HN;NNLC<ON?M GPS)5.-BOE9.-BUUSJCVUFT BOE % (
    ;NNLC<ON?M GPSUIPTFEFИOFEPO*%-JOUFSGBDFT4JNJMBSMZ UIFUFSNQSPQFSUJFTJTVTFEGPSCPUI+BWB4DSJQUPCKFDU
    QSPQFSUJFTBOE$44QSPQFSUJFT8IFOUIFTFBSFBNCJHVPVTUIFZBSFRVBMJИFEBT I<D?=NJLIJ?LNC?M BOE //
    JLIJ?LNC?M SFTQFDUJWFMZ

    (FOFSBMMZ XIFOUIFTQFDJИDBUJPOTUBUFTUIBUBGFBUVSFBQQMJFTUP UIF)5.-TZOUBY Q PS UIF9)5.-TZOUBY Q JUBMTP


    JODMVEFTUIFPUIFS8IFOBGFBUVSFTQFDJИDBMMZPOMZBQQMJFTUPPOFPGUIFUXPMBOHVBHFT JUJTDBMMFEPVUCZFYQMJDJUMZ
    TUBUJOHUIBUJUEPFTOPUBQQMZUPUIFPUIFSGPSNBU BTJOGPS)5.-  UIJTEPFTOPUBQQMZUP9)5.-
    

    5IJTTQFDJИDBUJPOVTFTUIFUFSN >I=OG?HN UPSFGFSUPBOZVTFPG)5.- SBOHJOHGSPNTIPSUTUBUJDEPDVNFOUTUPMPOH


    FTTBZTPSSFQPSUTXJUISJDINVMUJNFEJB BTXFMMBTUPGVMMZЙFEHFEJOUFSBDUJWFBQQMJDBUJPOT

    'PSTJNQMJDJUZ UFSNTTVDIBT MBIQH >CMJF;S?> BOE PCMC<F? NJHIUTPNFUJNFTCFVTFEXIFOSFGFSSJOHUPUIFXBZB


    EPDVNFOUJTSFOEFSFEUPUIFVTFS5IFTFUFSNTBSFOPUNFBOUUPJNQMZBWJTVBMNFEJVNUIFZNVTUCFDPOTJEFSFEUP
    BQQMZUPPUIFSNFEJBJOFRVJWBMFOUXBZT

    8IFOBOBMHPSJUIN#TBZTUPSFUVSOUPBOPUIFSBMHPSJUIN" JUJNQMJFTUIBU"DBMMFE#6QPOSFUVSOJOHUP" UIF


    JNQMFNFOUBUJPONVTUDPOUJOVFGSPNXIFSFJUMFGUPЗJODBMMJOH#

       .?MIOL=?M

    5IFTQFDJИDBUJPOVTFTUIFUFSN MOJJILN?> XIFOSFGFSSJOHUPXIFUIFSBVTFSBHFOUIBTBOJNQMFNFOUBUJPODBQBCMFPG


    EFDPEJOHUIFTFNBOUJDTPGBOFYUFSOBMSFTPVSDF"GPSNBUPSUZQFJTTBJEUPCF BD??>AC43 JGUIFJNQMFNFOUBUJPODBO
    QSPDFTTBOFYUFSOBMSFTPVSDFPGUIBUGPSNBUPSUZQFXJUIPVUDSJUJDBMBTQFDUTPGUIFSFTPVSDFCFJOHJHOPSFE8IFUIFSB
    TQFDJИDSFTPVSDFJT BD??>AC43 DBOEFQFOEPOXIBUGFBUVSFTPGUIFSFTPVSDFTGPSNBUBSFJOVTF

    'PSFYBNQMF B1/(JNBHFXPVMECFDPOTJEFSFEUPCFJOBTVQQPSUFEGPSNBUJGJUTQJYFMEBUBDPVMECFEFDPEFE
    BOESFOEFSFE FWFOJG VOCFLOPXOTUUPUIFJNQMFNFOUBUJPO UIFJNBHFBMTPDPOUBJOFEBOJNBUJPOEBUB

    ".1&(WJEFPИMFXPVMEOPUCFDPOTJEFSFEUPCFJOBTVQQPSUFEGPSNBUJGUIFDPNQSFTTJPOGPSNBUVTFEXBTOPU
    TVQQPSUFE FWFOJGUIFJNQMFNFOUBUJPODPVMEEFUFSNJOFUIFEJNFOTJPOTPGUIFNPWJFGSPNUIFИMFTNFUBEBUB

    5IFUFSN )%)!NSJ? JTVTFEUPSFGFSUPXIBUJTTPNFUJNFTDBMMFEBO =C4A=4C<4380CH?4 JOQSPUPDPMMJUFSBUVSF5IF


    UFSN <4380CH?4 JOUIJTTQFDJИDBUJPOJTVTFEUPSFGFSUPUIFUZQFPGNFEJBJOUFOEFEGPSQSFTFOUBUJPO BTVTFECZUIF
    $44TQFDJИDBUJPOT <3'$> Q <.2> Q

    "TUSJOHJTB P;FC>)%)!NSJ? JGJUNBUDIFTUIF NFEJBUZQF SVMFEFИOFEJOTFDUJPO.FEJB5ZQFTPG3'$*O


    QBSUJDVMBS B WBMJE.*.&UZQF Q NBZJODMVEF.*.&UZQFQBSBNFUFST <)551> Q

    "TUSJOHJTB P;FC>)%)!NSJ?QCNBHIJ;L;G?N?LM JGJUNBUDIFTUIF NFEJBUZQF SVMFEFИOFEJOTFDUJPO.FEJB


    5ZQFTPG3'$ CVUEPFTOPUDPOUBJOBOZ6 #4&.*$0-0/DIBSBDUFST 
    *OPUIFSXPSET JGJUDPOTJTUTPOMZPGB
    UZQFBOETVCUZQF XJUIOP.*.&5ZQFQBSBNFUFST <)551> Q

    5IFUFSN $0)()%)!NSJ? JTVTFEUPSFGFSUPUIF .*.&UZQFT Q UFYUIUNM Q BOE UFYUIUNMTBOECPYFE Q 

    "SFTPVSDFT =LCNC=;FMO<L?MIOL=?M BSFUIPTFUIBUUIFSFTPVSDFOFFETUPIBWFBWBJMBCMFUPCFDPSSFDUMZQSPDFTTFE


    8IJDISFTPVSDFTBSFDPOTJEFSFEDSJUJDBMPSOPUJTEFИOFECZUIFTQFDJИDBUJPOUIBUEFИOFTUIFSFTPVSDFTGPSNBU'PS
    $44SFTPVSDFT POMZ !JNQPSU SVMFTJOUSPEVDF DSJUJDBMTVCSFTPVSDFT Q PUIFSSFTPVSDFT FHGPOUTPSCBDLHSPVOET BSF
    OPU

       4)(

    5PFBTFNJHSBUJPOGSPN)5.-UP9)5.- 6"TDPOGPSNJOHUPUIJTTQFDJИDBUJPOXJMMQMBDFFMFNFOUTJO)5.-JOUIF
    IUUQXXXXPSHYIUNM OBNFTQBDF BUMFBTUGPSUIFQVSQPTFTPGUIF%0.BOE$445IFUFSN$0)(
    ?F?G?HNM XIFOVTFEJOUIJTTQFDJИDBUJPO SFGFSTUPBOZFMFNFOUJOUIBUOBNFTQBDF BOEUIVTSFGFSTUPCPUI)5.-
    BOE9)5.-FMFNFOUT

    &YDFQUXIFSFPUIFSXJTFTUBUFE BMMFMFNFOUTEFИOFEPSNFOUJPOFEJOUIJTTQFDJИDBUJPOBSFJOUIF IUUQXXXXPSH


    YIUNM OBNFTQBDF BOEBMMBUUSJCVUFTEFИOFEPSNFOUJPOFEJOUIJTTQFDJИDBUJPOIBWFOPOBNFTQBDF

    
    "UUSJCVUFOBNFTBSFTBJEUPCF 4)( =IGJ;NC<F? JGUIFZNBUDIUIF /BNF QSPEVDUJPOEFИOFEJO9.- UIFZDPOUBJOOP
    6 "$0-0/DIBSBDUFST 
    BOEUIFJSИSTUUISFFDIBSBDUFSTBSFOPUBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOH
    YNM <9.-> Q

    5IFUFSN 4)()%)!NSJ? JTVTFEUPSFGFSUPUIF .*.&UZQFT Q UFYUYNM BQQMJDBUJPOYNM BOEBOZ .*.&UZQF Q
    XIPTFTVCUZQFFOETXJUIUIFGPVSDIBSBDUFST YNM <3'$> Q

       +)NL??M

    5IFUFSN LIIN?F?G?HN XIFOOPUFYQMJDJUMZRVBMJИFEBTSFGFSSJOHUPUIFEPDVNFOUTSPPUFMFNFOU NFBOTUIFGVSUIFTU


    BODFTUPSFMFNFOUOPEFPGXIBUFWFSOPEFJTCFJOHEJTDVTTFE PSUIFOPEFJUTFMGJGJUIBTOPBODFTUPST8IFOUIFOPEFJT
    BQBSUPGUIFEPDVNFOU UIFOUIFOPEFT SPPUFMFNFOU Q JTJOEFFEUIFEPDVNFOUTSPPUFMFNFOUIPXFWFS JGUIFOPEF
    JTOPUDVSSFOUMZQBSUPGUIFEPDVNFOUUSFF UIFSPPUFMFNFOUXJMMCFBOPSQIBOFEOPEF

    8IFOBOFMFNFOUT SPPUFMFNFOU Q JTUIFSPPUFMFNFOUPGB %PDVNFOU Q JUJTTBJEUPCF CH; "J>PH@IO"OFMFNFOUJT


    TBJEUPIBWFCFFO CHM?LN?>CHNI;>I=OG?HN XIFOJUT SPPUFMFNFOU Q DIBOHFTBOEJTOPXUIFEPDVNFOUT SPPU
    FMFNFOU Q "OBMPHPVTMZ BOFMFNFOUJTTBJEUPIBWFCFFO L?GIP?>@LIG;>I=OG?HN XIFOJUT SPPUFMFNFOU Q
    DIBOHFTGSPNCFJOHUIFEPDVNFOUT SPPUFMFNFOU Q UPCFJOHBOPUIFSFMFNFOU

    "OPEFT BIG?MO<NL?? JTUIFTVCUSFFSPPUFEBUUIBUOPEFT SPPUFMFNFOU Q 8IFOBOPEFJT JOB %PDVNFOU Q JUT
    IPNFTVCUSFF Q JTUIBU %PDVNFOU Q TUSFF

    5IF %PDVNFOU Q PGB /PEF Q TVDIBTBOFMFNFOU


    JTUIF %PDVNFOU Q UIBUUIF /PEF Q T PXOFS%PDVNFOU *%-BUUSJCVUF
    SFUVSOT8IFOB /PEF Q JT JOB %PDVNFOU Q UIFOUIBU %PDVNFOU Q JTBMXBZTUIF /PEF Q T %PDVNFOU Q BOEUIF
    /PEF Q T PXOFS%PDVNFOU *%-BUUSJCVUFUIVTBMXBZTSFUVSOTUIBU %PDVNFOU Q 

    5IFUFSN NL??IL>?L NFBOTBQSFPSEFS EFQUIИSTUUSBWFSTBMPG%0.OPEFTJOWPMWFE UISPVHIUIF


    QBSFOU/PEF Q DIJME/PEFT Q SFMBUJPOTIJQ
    

    8IFOJUJTTUBUFEUIBUTPNFFMFNFOUPSBUUSJCVUFJT CAHIL?> PSUSFBUFEBTTPNFPUIFSWBMVF PSIBOEMFEBTJGJUXBT


    TPNFUIJOHFMTF UIJTSFGFSTPOMZUPUIFQSPDFTTJOHPGUIFOPEFBGUFSJUJTJOUIF%0. "VTFSBHFOUNVTUOPUNVUBUFUIF
    %0.JOTVDITJUVBUJPOT

    5IFUFSN N?RNHI>? SFGFSTUPBOZ 5FYU Q OPEF JODMVEJOH $%"5"4FDUJPO Q OPEFTTQFDJИDBMMZ BOZ /PEF Q XJUIOPEF
    UZQF 5&95@/0%& 
    PS $%"5"@4&$5*0/@/0%& 
     <%0.$03&> Q

    "DPOUFOUBUUSJCVUFJTTBJEUP =B;HA? WBMVFPOMZJGJUTOFXWBMVFJTEJЗFSFOUUIBOJUTQSFWJPVTWBMVFTFUUJOHBOBUUSJCVUF


    UPBWBMVFJUBMSFBEZIBTEPFTOPUDIBOHFJU

       /=LCJNCHA

    5IFDPOTUSVDUJPOB 'PP PCKFDU XIFSF 'PP JTBDUVBMMZBOJOUFSGBDF JTTPNFUJNFTVTFEJOTUFBEPGUIFNPSFBDDVSBUF


    BOPCKFDUJNQMFNFOUJOHUIFJOUFSGBDF 'PP

    "O*%-BUUSJCVUFJTTBJEUPCF A?NNCHA XIFOJUTWBMVFJTCFJOHSFUSJFWFE FHCZBVUIPSTDSJQU


    BOEJTTBJEUPCF M?NNCHA
    XIFOBOFXWBMVFJTBTTJHOFEUPJU

    *GB%0.PCKFDUJTTBJEUPCF FCP? UIFOUIFBUUSJCVUFTBOENFUIPETPOUIBUPCKFDU NVTU PQFSBUFPOUIFBDUVBM


    VOEFSMZJOHEBUB OPUBTOBQTIPUPGUIFEBUB

    5IFUFSNT ]L? BOE >CMJ;N=B BSFVTFEJOUFSDIBOHFBCMZJOUIFDPOUFYUPGFWFOUT BTJOUIF%0.&WFOUTTQFDJИDBUJPOT


    5IFUFSN NLOMN?>?P?HN JTVTFEBTEFИOFECZUIF%0.&WFOUTTQFDJИDBUJPO <%0.&7&/54> Q

       ,FOACHM

    5IFUFSN JFOACH JTVTFEUPNFBOBOZDPOUFOUIBOEMFSUIBUTVQQPSUTEJTQMBZJOHDPOUFOUBTQBSUPGUIFVTFSBHFOUT


    SFOEFSJOHPGB %PDVNFOU Q PCKFDU CVUUIBUOFJUIFSBDUTBTB DIJMECSPXTJOHDPOUFYU Q PGUIF %PDVNFOU Q OPS
    JOUSPEVDFTBOZ /PEF Q PCKFDUTUPUIF %PDVNFOU Q T%0.

    5ZQJDBMMZTVDIDPOUFOUIBOEMFSTBSFQSPWJEFECZUIJSEQBSUJFT UIPVHIBVTFSBHFOUDBOEFTJHOBUFDPOUFOUIBOEMFSTUP
    CFQMVHJOT

    0OFFYBNQMFPGBQMVHJOXPVMECFB1%'WJFXFSUIBUJTJOTUBOUJBUFEJOB CSPXTJOHDPOUFYU Q XIFOUIFVTFS


    OBWJHBUFTUPB1%'ИMF5IJTXPVMEDPVOUBTBQMVHJOSFHBSEMFTTPGXIFUIFSUIFQBSUZUIBUJNQMFNFOUFEUIF1%'
    WJFXFSDPNQPOFOUXBTUIFTBNFBTUIBUXIJDIJNQMFNFOUFEUIFVTFSBHFOUJUTFMG)PXFWFS B1%'WJFXFS

    
    BQQMJDBUJPOUIBUMBVODIFTTFQBSBUFGSPNUIFVTFSBHFOU BTPQQPTFEUPVTJOHUIFTBNFJOUFSGBDF
    JTOPUBQMVHJO
    CZUIJTEFИOJUJPO

    *HM> 0ABLLI><B[<:MBHG=H>LGHM=>[G>:F><A:GBLF?HKBGM>K:<MBG@PBMAIEN@BGL :LBMBL


    >QI><M>=MH;>NL>K
    :@>GM
    :G=IE:M?HKF
    LI><B[< /HF>1LFB@AMHIMMHLNIIHKM:IEN@BG
    F><A:GBLFLN<A:LMA>*>ML<:I>,EN@BG,%HMA>KLFB@AMNL>K>FHM><HGM>GM<HGO>KM>KLHKA:O>
    ;NBEM
    BGLNIIHKM?HK<>KM:BGMRI>L 7*,,%8 I

    [3;LHCHA KHPL>KLLAHNE=M:D>>QMK>F><:K>PA>GBGM>K:<MBG@PBMA>QM>KG:E<HGM>GMBGM>G=>=?HK
    IEN@BGL I 3A>GMABK=
    I:KMRLH?MP:K>BLKNGPBMAMA>L:F>IKBOBE>@>L:LMA>NL>K:@>GMBML>E?
    ONEG>K:;BEBMB>LBGMA>MABK=
    I:KMRLH?MP:K>;><HF>:L=:G@>KHNL:LMAHL>BGMA>NL>K:@>GM

       B;L;=N?L?H=I>CHAM

    5IF JL?@?LL?>)%)!H;G? PGBDIBSBDUFSFODPEJOHJTUIFOBNFPSBMJBTMBCFMFEBTQSFGFSSFE.*.&OBNFJOUIF


    *"/" 70A02C4A)4CB SFHJTUSZ JGUIFSFJTPOF PSUIFFODPEJOHTOBNF JGOPOFPGUIFBMJBTFTBSFTPMBCFMFE
    <*"/"$)"34&5> Q

    "O /%% =IGJ;NC<F?=B;L;=N?L?H=I>CHA JTBTJOHMFCZUFPSWBSJBCMFMFOHUIFODPEJOHJOXIJDIUIFCZUFTY


    Y" Y$ Y% YY Y Y Y$Y' YY" BOEYY" JHOPSJOHCZUFTUIBUBSFUIF
    TFDPOEBOEMBUFSCZUFTPGNVMUJCZUFTFRVFODFT BMMDPSSFTQPOEUPTJOHMFCZUFTFRVFODFTUIBUNBQUPUIFTBNF6OJDPEF
    DIBSBDUFSTBTUIPTFCZUFTJO"/4*@9 64"4$**
     <3'$> Q

    *HM> 0ABLBG<EN=>LLN<A>G<H=BG@L:L/AB?M9&%/ $6


    #
     :G=O:KB:GMLH?%/+
      >O>G
    MAHN@ABMBLIHLLB;E>BGMA>L>>G<H=BG@L?HK;RM>LEBD> Q MH;>I:KMH?EHG@>KL>JN>G<>LMA:M
    :K>NGK>E:M>=MHMA>BKBGM>KIK>M:MBHG:L/%% %M>Q<EN=>LLN<A>G<H=BG@L:L10"
     10"
    
    #/)   :G=! %O:KB:GML

    5IFUFSN 1HC=I>?=B;L;=N?L JTVTFEUPNFBOB +=82>34B20;0AE0;D4 JFBOZ6OJDPEFDPEFQPJOUUIBUJTOPUB


    TVSSPHBUFDPEFQPJOU
     <6/*$0%&> Q

      IH@ILG;H=?L?KOCL?G?HNM

    "MMEJBHSBNT FYBNQMFT BOEOPUFTJOUIJTTQFDJИDBUJPOBSFOPOOPSNBUJWF BTBSFBMMTFDUJPOTFYQMJDJUMZNBSLFEOPO


    OPSNBUJWF&WFSZUIJOHFMTFJOUIJTTQFDJИDBUJPOJTOPSNBUJWF

    5IFLFZXPSET.645 .645/05 3&26*3&% 4)06-% 4)06-%/05 3&$0..&/%&% .": BOE


    015*0/"-JOUIFOPSNBUJWFQBSUTPGUIJTEPDVNFOUBSFUPCFJOUFSQSFUFEBTEFTDSJCFEJO3'$'PSSFBEBCJMJUZ
    UIFTFXPSETEPOPUBQQFBSJOBMMVQQFSDBTFMFUUFSTJOUIJTTQFDJИDBUJPO <3'$> Q

    3FRVJSFNFOUTQISBTFEJOUIFJNQFSBUJWFBTQBSUPGBMHPSJUINT TVDIBTTUSJQBOZMFBEJOHTQBDFDIBSBDUFSTPSSFUVSO
    GBMTFBOEBCPSUUIFTFTUFQT
    BSFUPCFJOUFSQSFUFEXJUIUIFNFBOJOHPGUIFLFZXPSE NVTU TIPVME NBZ FUD

    VTFEJOJOUSPEVDJOHUIFBMHPSJUIN

    5IJTTQFDJИDBUJPOEFTDSJCFTUIFDPOGPSNBODFDSJUFSJBGPS VTFSBHFOUT SFMFWBOUUPJNQMFNFOUPST


    BOE EPDVNFOUT
    SFMFWBOUUPBVUIPSTBOEBVUIPSJOHUPPMJNQMFNFOUPST
    

    IH@ILGCHA>I=OG?HNM BSFUIPTFUIBUDPNQMZXJUIBMMUIFDPOGPSNBODFDSJUFSJBGPSEPDVNFOUT'PSSFBEBCJMJUZ TPNF


    PGUIFTFDPOGPSNBODFSFRVJSFNFOUTBSFQISBTFEBTDPOGPSNBODFSFRVJSFNFOUTPOBVUIPSTTVDISFRVJSFNFOUTBSF
    JNQMJDJUMZSFRVJSFNFOUTPOEPDVNFOUTCZEFИOJUJPO BMMEPDVNFOUTBSFBTTVNFEUPIBWFIBEBOBVUIPS *OTPNF
    DBTFT UIBUBVUIPSNBZJUTFMGCFBVTFSBHFOUǡTVDIVTFSBHFOUTBSFTVCKFDUUPBEEJUJPOBMSVMFT BTFYQMBJOFECFMPX

    'PSFYBNQMF JGBSFRVJSFNFOUTUBUFTUIBUBVUIPSTNVTUOPUVTFUIF GPPCBS FMFNFOU JUXPVMEJNQMZUIBU


    EPDVNFOUTBSFOPUBMMPXFEUPDPOUBJOFMFNFOUTOBNFE GPPCBS

    6TFSBHFOUTGBMMJOUPTFWFSBM PWFSMBQQJOH
    DBUFHPSJFTXJUIEJЗFSFOUDPOGPSNBODFSFRVJSFNFOUT

    3?<<LIQM?LM;H>INB?LCHN?L;=NCP?OM?L;A?HNM
    8FCCSPXTFSTUIBUTVQQPSU UIF9)5.-TZOUBY Q NVTUQSPDFTTFMFNFOUTBOEBUUSJCVUFTGSPNUIF )5.-
    OBNFTQBDF Q GPVOEJO9.-EPDVNFOUTBTEFTDSJCFEJOUIJTTQFDJИDBUJPO TPUIBUVTFSTDBOJOUFSBDUXJUIUIFN
    VOMFTTUIFTFNBOUJDTPGUIPTFFMFNFOUTIBWFCFFOPWFSSJEEFOCZPUIFSTQFDJИDBUJPOT

    "DPOGPSNJOH9)5.-QSPDFTTPSXPVME VQPOИOEJOHBO9)5.- TDSJQU Q FMFNFOUJOBO9.-EPDVNFOU


    FYFDVUFUIFTDSJQUDPOUBJOFEJOUIBUFMFNFOU)PXFWFS JGUIFFMFNFOUJTGPVOEXJUIJOBUSBOTGPSNBUJPO

    
    FYQSFTTFEJO94-5 BTTVNJOHUIFVTFSBHFOUBMTPTVQQPSUT94-5
    UIFOUIFQSPDFTTPSXPVMEJOTUFBEUSFBU
    UIF TDSJQU Q FMFNFOUBTBOPQBRVFFMFNFOUUIBUGPSNTQBSUPGUIFUSBOTGPSN

    8FCCSPXTFSTUIBUTVQQPSU UIF)5.-TZOUBY Q NVTUQSPDFTTEPDVNFOUTMBCFMFEXJUIBO )5.-.*.&UZQF Q BT


    EFTDSJCFEJOUIJTTQFDJИDBUJPO TPUIBUVTFSTDBOJOUFSBDUXJUIUIFN

    6TFSBHFOUTUIBUTVQQPSUTDSJQUJOHNVTUBMTPCFDPOGPSNJOHJNQMFNFOUBUJPOTPGUIF*%-GSBHNFOUTJOUIJT
    TQFDJИDBUJPO BTEFTDSJCFEJOUIF8FC*%-TQFDJИDBUJPO <8&#*%-> Q

    *HM> 1GE>LL>QIEB<BMERLM:M>= LI><B[<:MBHGLMA:MHO>KKB=>MA>L>F:GMB<LH?$0)(>E>F>GML


    =HGHMHO>KKB=>MA>K>JNBK>F>GMLHG +)H;C><MLK>IK>L>GMBG@MAHL>>E>F>GML "HK>Q:FIE>
    MA> L<KBIM I >E>F>GMBGMA>>Q:FIE>:;HO>PHNE=LMBEEBFIE>F>GMMA> '2+*1<KBIM$E>F>GM I
    BGM>K?:<>

    *IH CHN?L;=NCP?JL?M?HN;NCIHOM?L;A?HNM
    6TFSBHFOUTUIBUQSPDFTT)5.-BOE9)5.-EPDVNFOUTQVSFMZUPSFOEFSOPOJOUFSBDUJWFWFSTJPOTPGUIFNNVTU
    DPNQMZUPUIFTBNFDPOGPSNBODFDSJUFSJBBT8FCCSPXTFST FYDFQUUIBUUIFZBSFFYFNQUGSPNSFRVJSFNFOUT
    SFHBSEJOHVTFSJOUFSBDUJPO

    *HM> 0RIB<:E>Q:FIE>LH?GHG
    BGM>K:<MBO>IK>L>GM:MBHGNL>K:@>GML:K>IKBGM>KLLM:MB<1L
    :G=HO>KA>:==BLIE:RL=RG:FB<1L %MBL>QI><M>=MA:MFHLMLM:MB<GHG
    BGM>K:<MBO>
    IK>L>GM:MBHGNL>K:@>GMLPBEE:ELHHIMMH E:<DL<KBIMBG@LNIIHKM I

    "OPOJOUFSBDUJWFCVUEZOBNJDQSFTFOUBUJPO6"XPVMETUJMMFYFDVUFTDSJQUT BMMPXJOHGPSNTUPCF
    EZOBNJDBMMZTVCNJUUFE BOETPGPSUI)PXFWFS TJODFUIFDPODFQUPGGPDVTJTJSSFMFWBOUXIFOUIFVTFS
    DBOOPUJOUFSBDUXJUIUIFEPDVNFOU UIF6"XPVMEOPUOFFEUPTVQQPSUBOZPGUIFGPDVTSFMBUFE%0."1*T

    1L>K:@>GMLPBMAGHL<KBIMBG@LNIIHKM
    *NQMFNFOUBUJPOTUIBUEPOPUTVQQPSUTDSJQUJOH PSXIJDIIBWFUIFJSTDSJQUJOHGFBUVSFTEJTBCMFEFOUJSFMZ
    BSF
    FYFNQUGSPNTVQQPSUJOHUIFFWFOUTBOE%0.JOUFSGBDFTNFOUJPOFEJOUIJTTQFDJИDBUJPO'PSUIFQBSUTPGUIJT
    TQFDJИDBUJPOUIBUBSFEFИOFEJOUFSNTPGBOFWFOUTNPEFMPSJOUFSNTPGUIF%0. TVDIVTFSBHFOUTNVTUTUJMMBDU
    BTJGFWFOUTBOEUIF%0.XFSFTVQQPSUFE

    *HM> /<KBIMBG@<:G?HKF:GBGM>@K:EI:KMH?:G:IIEB<:MBHG 3>;;KHPL>KLMA:M=HGHMLNIIHKM


    L<KBIMBG@ HKMA:MA:O>L<KBIMBG@=BL:;E>= FB@AM;>NG:;E>MH?NEER<HGO>RMA>:NMAHKLBGM>GM

    IH@ILG;H=?=B?=E?LM
    $POGPSNBODFDIFDLFSTNVTUWFSJGZUIBUBEPDVNFOUDPOGPSNTUPUIFBQQMJDBCMFDPOGPSNBODFDSJUFSJBEFTDSJCFEJO
    UIJTTQFDJИDBUJPO"VUPNBUFEDPOGPSNBODFDIFDLFSTBSFFYFNQUGSPNEFUFDUJOHFSSPSTUIBUSFRVJSFJOUFSQSFUBUJPO
    PGUIFBVUIPSTJOUFOU GPSFYBNQMF XIJMFBEPDVNFOUJTOPODPOGPSNJOHJGUIFDPOUFOUPGB CMPDLRVPUF Q
    FMFNFOUJTOPUBRVPUF DPOGPSNBODFDIFDLFSTSVOOJOHXJUIPVUUIFJOQVUPGIVNBOKVEHFNFOUEPOPUIBWFUP
    DIFDLUIBU CMPDLRVPUF Q FMFNFOUTPOMZDPOUBJORVPUFENBUFSJBM
    

    $POGPSNBODFDIFDLFSTNVTUDIFDLUIBUUIFJOQVUEPDVNFOUDPOGPSNTXIFOQBSTFEXJUIPVUB CSPXTJOH
    DPOUFYU Q NFBOJOHUIBUOPTDSJQUTBSFSVO BOEUIBUUIFQBSTFST TDSJQUJOHЙBH Q JTEJTBCMFE
    BOETIPVMEBMTP
    DIFDLUIBUUIFJOQVUEPDVNFOUDPOGPSNTXIFOQBSTFEXJUIB CSPXTJOHDPOUFYU Q JOXIJDITDSJQUTFYFDVUF BOE
    UIBUUIFTDSJQUTOFWFSDBVTFOPODPOGPSNJOHTUBUFTUPPDDVSPUIFSUIBOUSBOTJFOUMZEVSJOHTDSJQUFYFDVUJPOJUTFMG
    5IJTJTPOMZB4)06-%BOEOPUB.645SFRVJSFNFOUCFDBVTFJUIBTCFFOQSPWFOUPCFJNQPTTJCMF
    <$0.165"#-&> Q

    5IFUFSN)5.-WBMJEBUPSDBOCFVTFEUPSFGFSUPBDPOGPSNBODFDIFDLFSUIBUJUTFMGDPOGPSNTUPUIFBQQMJDBCMF
    SFRVJSFNFOUTPGUIJTTQFDJИDBUJPO

    4)( 0 L<:GGHM>QIK>LL:EEMA><HG?HKF:G<>K>JNBK>F>GMLH?MABLLI><B[<:MBHG 0A>K>?HK>


    :O:EB=:MBG@4)(IKH<>LLHK:G=: 0 <:GGHM<HGLMBMNM>:<HG?HKF:G<><A><D>K ELH LBG<>
    G>BMA>KH?MA>MPH:NMAHKBG@?HKF:ML=>[G>=BGMABLLI><B[<:MBHG:K>:IIEB<:MBHGLH?/#)( :
    O:EB=:MBG@/#)(LRLM>F<:GGHM<HGLMBMNM>:<HG?HKF:G<><A><D>K>BMA>K

    0HINMBM:GHMA>KP:R MA>K>:K>MAK>>MRI>LH?<HG?HKF:G<><KBM>KB:

     KBM>KB:MA:M<:G;>>QIK>LL>=BG: 0

     KBM>KB:MA:M<:GGHM;>>QIK>LL>=;R: 0 ;NM<:GLMBEE;><A><D>=;R:F:<ABG>

     KBM>KB:MA:M<:GHGER;><A><D>=;R:ANF:G

    
    <HG?HKF:G<><A><D>KFNLM<A><D?HKMA>[KLMMPH LBFIE> 0
    ;:L>=O:EB=:MHKHGER
    <A><DL?HKMA>[KLM<E:LLH?>KKHKL:G=BLMA>K>?HK>GHM:<HG?HKFBG@<HG?HKF:G<><A><D>K
    :<<HK=BG@MHMABLLI><B[<:MBHG

    ;N;GCHCHANIIFM
    "QQMJDBUJPOTBOEUPPMTUIBUQSPDFTT)5.-BOE9)5.-EPDVNFOUTGPSSFBTPOTPUIFSUIBOUPFJUIFSSFOEFSUIF
    EPDVNFOUTPSDIFDLUIFNGPSDPOGPSNBODFTIPVMEBDUJOBDDPSEBODFXJUIUIFTFNBOUJDTPGUIFEPDVNFOUTUIBU
    UIFZQSPDFTT

    "UPPMUIBUHFOFSBUFT EPDVNFOUPVUMJOFT Q CVUJODSFBTFTUIFOFTUJOHMFWFMGPSFBDIQBSBHSBQIBOEEPFT


    OPUJODSFBTFUIFOFTUJOHMFWFMGPSFBDITFDUJPOXPVMEOPUCFDPOGPSNJOH

    ONBILCHANIIFM;H>G;LEOJA?H?L;NILM
    "VUIPSJOHUPPMTBOENBSLVQHFOFSBUPSTNVTUHFOFSBUF DPOGPSNJOHEPDVNFOUT Q $POGPSNBODFDSJUFSJBUIBU
    BQQMZUPBVUIPSTBMTPBQQMZUPBVUIPSJOHUPPMT XIFSFBQQSPQSJBUF

    "VUIPSJOHUPPMTBSFFYFNQUGSPNUIFTUSJDUSFRVJSFNFOUTPGVTJOHFMFNFOUTPOMZGPSUIFJSTQFDJИFEQVSQPTF CVU
    POMZUPUIFFYUFOUUIBUBVUIPSJOHUPPMTBSFOPUZFUBCMFUPEFUFSNJOFBVUIPSJOUFOU)PXFWFS BVUIPSJOHUPPMT
    NVTUOPUBVUPNBUJDBMMZNJTVTFFMFNFOUTPSFODPVSBHFUIFJSVTFSTUPEPTP

    'PSFYBNQMF JUJTOPUDPOGPSNJOHUPVTFBO BEESFTT Q FMFNFOUGPSBSCJUSBSZDPOUBDUJOGPSNBUJPOUIBU


    FMFNFOUDBOPOMZCFVTFEGPSNBSLJOHVQDPOUBDUJOGPSNBUJPOGPSUIFBVUIPSPGUIFEPDVNFOUPSTFDUJPO
    )PXFWFS TJODFBOBVUIPSJOHUPPMJTMJLFMZVOBCMFUPEFUFSNJOFUIFEJЗFSFODF BOBVUIPSJOHUPPMJTFYFNQU
    GSPNUIBUSFRVJSFNFOU5IJTEPFTOPUNFBO UIPVHI UIBUBVUIPSJOHUPPMTDBOVTF BEESFTT Q FMFNFOUTGPS
    BOZCMPDLPGJUBMJDTUFYU GPSJOTUBODF
    JUKVTUNFBOTUIBUUIFBVUIPSJOHUPPMEPFTOUIBWFUPWFSJGZUIBU
    XIFOUIFVTFSVTFTBUPPMGPSJOTFSUJOHDPOUBDUJOGPSNBUJPOGPSBTFDUJPO UIBUUIFVTFSSFBMMZJTEPJOHUIBU
    BOEOPUJOTFSUJOHTPNFUIJOHFMTFJOTUFBE

    *HM> %GM>KFLH?<HG?HKF:G<><A><DBG@ :G>=BMHKA:LMHHNMINM=H<NF>GMLMA:M<HG?HKFMH


    MA>L:F>>QM>GMMA:M:<HG?HKF:G<><A><D>KPBEEO>KB?R

    8IFOBOBVUIPSJOHUPPMJTVTFEUPFEJUBOPODPOGPSNJOHEPDVNFOU JUNBZQSFTFSWFUIFDPOGPSNBODFFSSPSTJO
    TFDUJPOTPGUIFEPDVNFOUUIBUXFSFOPUFEJUFEEVSJOHUIFFEJUJOHTFTTJPO JFBOFEJUJOHUPPMJTBMMPXFEUPSPVOE
    USJQFSSPOFPVTDPOUFOU
    )PXFWFS BOBVUIPSJOHUPPMNVTUOPUDMBJNUIBUUIFPVUQVUJTDPOGPSNBOUJGFSSPSTIBWF
    CFFOTPQSFTFSWFE

    "VUIPSJOHUPPMTBSFFYQFDUFEUPDPNFJOUXPCSPBEWBSJFUJFTUPPMTUIBUXPSLGSPNTUSVDUVSFPSTFNBOUJDEBUB
    BOEUPPMTUIBUXPSLPOB8IBU:PV4FF*T8IBU:PV(FUNFEJBTQFDJИDFEJUJOHCBTJT 8:4*8:(
    

    5IFGPSNFSJTUIFQSFGFSSFENFDIBOJTNGPSUPPMTUIBUBVUIPS)5.- TJODFUIFTUSVDUVSFJOUIFTPVSDFJOGPSNBUJPO
    DBOCFVTFEUPNBLFJOGPSNFEDIPJDFTSFHBSEJOHXIJDI)5.-FMFNFOUTBOEBUUSJCVUFTBSFNPTUBQQSPQSJBUF

    )PXFWFS 8:4*8:(UPPMTBSFMFHJUJNBUF8:4*8:(UPPMTTIPVMEVTFFMFNFOUTUIFZLOPXBSFBQQSPQSJBUF BOE


    TIPVMEOPUVTFFMFNFOUTUIBUUIFZEPOPULOPXUPCFBQQSPQSJBUF5IJTNJHIUJODFSUBJOFYUSFNFDBTFTNFBO
    MJNJUJOHUIFVTFPGЙPXFMFNFOUTUPKVTUBGFXFMFNFOUT MJLF EJW Q C Q J Q BOE TQBO Q BOENBLJOHMJCFSBM
    VTFPGUIF TUZMF Q BUUSJCVUF

    "MMBVUIPSJOHUPPMT XIFUIFS8:4*8:(PSOPU TIPVMENBLFBCFTUFЗPSUBUUFNQUBUFOBCMJOHVTFSTUPDSFBUFXFMM


    TUSVDUVSFE TFNBOUJDBMMZSJDI NFEJBJOEFQFOEFOUDPOUFOU

    4PNFDPOGPSNBODFSFRVJSFNFOUTBSFQISBTFEBTSFRVJSFNFOUTPOFMFNFOUT BUUSJCVUFT NFUIPETPSPCKFDUT4VDI


    SFRVJSFNFOUTGBMMJOUPUXPDBUFHPSJFTUIPTFEFTDSJCJOHDPOUFOUNPEFMSFTUSJDUJPOT BOEUIPTFEFTDSJCJOH
    JNQMFNFOUBUJPOCFIBWJPS5IPTFJOUIFGPSNFSDBUFHPSZBSFSFRVJSFNFOUTPOEPDVNFOUTBOEBVUIPSJOHUPPMT5IPTFJO
    UIFTFDPOEDBUFHPSZBSFSFRVJSFNFOUTPOVTFSBHFOUT4JNJMBSMZ TPNFDPOGPSNBODFSFRVJSFNFOUTBSFQISBTFEBT
    SFRVJSFNFOUTPOBVUIPSTTVDISFRVJSFNFOUTBSFUPCFJOUFSQSFUFEBTDPOGPSNBODFSFRVJSFNFOUTPOUIFEPDVNFOUT
    UIBUBVUIPSTQSPEVDF *OPUIFSXPSET UIJTTQFDJИDBUJPOEPFTOPUEJTUJOHVJTICFUXFFODPOGPSNBODFDSJUFSJBPOBVUIPST
    BOEDPOGPSNBODFDSJUFSJBPOEPDVNFOUT

    $POGPSNBODFSFRVJSFNFOUTQISBTFEBTBMHPSJUINTPSTQFDJИDTUFQTNBZCFJNQMFNFOUFEJOBOZNBOOFS TPMPOHBTUIF
    FOESFTVMUJTFRVJWBMFOU *OQBSUJDVMBS UIFBMHPSJUINTEFИOFEJOUIJTTQFDJИDBUJPOBSFJOUFOEFEUPCFFBTZUPGPMMPX
    BOEOPUJOUFOEFEUPCFQFSGPSNBOU

    6TFSBHFOUTNBZJNQPTFJNQMFNFOUBUJPOTQFDJИDMJNJUTPOPUIFSXJTFVODPOTUSBJOFEJOQVUT FHUPQSFWFOUEFOJBMPG
    TFSWJDFBUUBDLT UPHVBSEBHBJOTUSVOOJOHPVUPGNFNPSZ PSUPXPSLBSPVOEQMBUGPSNTQFDJИDMJNJUBUJPOT

    *HM> 0A>K>BLGHBFIEB>=K>E:MBHGLABI;>MP>>G=H<NF>GM<HG?HKF:G<>K>JNBK>F>GML:G=
    BFIE>F>GM:MBHG<HG?HKF:G<>K>JNBK>F>GML 1L>K:@>GML:K>GHM?K>>MHA:G=E>GHG
    <HG?HKF:GM

    
    =H<NF>GML:LMA>RIE>:L>MA>IKH<>LLBG@FH=>E=>L<KB;>=BGMABLLI><B[<:MBHG:IIEB>LMH
    BFIE>F>GM:MBHGLK>@:K=E>LLH?MA><HG?HKFBMRH?MA>BGINM=H<NF>GML

    'PSDPNQBUJCJMJUZXJUIFYJTUJOHDPOUFOUBOEQSJPSTQFDJИDBUJPOT UIJTTQFDJИDBUJPOEFTDSJCFTUXPBVUIPSJOHGPSNBUTPOF
    CBTFEPO9.- SFGFSSFEUPBT UIF9)5.-TZOUBY Q
    BOEPOFVTJOHB DVTUPNGPSNBU Q JOTQJSFECZ4(.- SFGFSSFEUP
    BT UIF)5.-TZOUBY Q
     *NQMFNFOUBUJPOTNBZTVQQPSUPOMZPOFPGUIFTFUXPGPSNBUT BMUIPVHITVQQPSUJOHCPUIJT
    FODPVSBHFE

    5IFMBOHVBHFJOUIJTTQFDJИDBUJPOBTTVNFTUIBUUIFVTFSBHFOUFYQBOETBMMFOUJUZSFGFSFODFT BOEUIFSFGPSFEPFTOPU
    JODMVEFFOUJUZSFGFSFODFOPEFTJOUIF%0.*GVTFSBHFOUTEPJODMVEFFOUJUZSFGFSFODFOPEFTJOUIF%0. UIFOVTFS
    BHFOUTNVTUIBOEMFUIFNBTJGUIFZXFSFGVMMZFYQBOEFEXIFOJNQMFNFOUJOHUIJTTQFDJИDBUJPO'PSFYBNQMF JGB
    SFRVJSFNFOUUBMLTBCPVUBOFMFNFOUTDIJMEUFYUOPEFT UIFOBOZUFYUOPEFTUIBUBSFDIJMESFOPGBOFOUJUZSFGFSFODF
    UIBUJTBDIJMEPGUIBUFMFNFOUXPVMECFVTFEBTXFMM&OUJUZSFGFSFODFTUPVOLOPXOFOUJUJFTNVTUCFUSFBUFEBTJGUIFZ
    DPOUBJOFEKVTUBOFNQUZUFYUOPEFGPSUIFQVSQPTFTPGUIFBMHPSJUINTEFИOFEJOUIJTTQFDJИDBUJPO

       ?J?H>?H=C?M

    5IJTTQFDJИDBUJPOSFMJFTPOTFWFSBMPUIFSVOEFSMZJOHTQFDJИDBUJPOT

    4)(
    *NQMFNFOUBUJPOTUIBUTVQQPSU UIF9)5.-TZOUBY Q NVTUTVQQPSUTPNFWFSTJPOPG9.- BTXFMMBTJUT
    DPSSFTQPOEJOHOBNFTQBDFTTQFDJИDBUJPO CFDBVTFUIBUTZOUBYVTFTBO9.-TFSJBMJ[BUJPOXJUIOBNFTQBDFT
    <9.-> Q <9.-/4> Q

    +)
    5IF%PDVNFOU0CKFDU.PEFM %0.
    JTBSFQSFTFOUBUJPOǡBNPEFMǡPGBEPDVNFOUBOEJUTDPOUFOU5IF%0.JT
    OPUKVTUBO"1*UIFDPOGPSNBODFDSJUFSJBPG)5.-JNQMFNFOUBUJPOTBSFEFИOFE JOUIJTTQFDJИDBUJPO JOUFSNTPG
    PQFSBUJPOTPOUIF%0. <%0.$03&> Q

    *NQMFNFOUBUJPOTNVTUTVQQPSUTPNFWFSTJPOPG%0.$PSFBOE%0.&WFOUT CFDBVTFUIJTTQFDJИDBUJPOJTEFИOFE
    JOUFSNTPGUIF%0. BOETPNFPGUIFGFBUVSFTBSFEFИOFEBTFYUFOTJPOTUPUIF%0.$PSFJOUFSGBDFT
    <%0.$03&> Q <%0.&7&/54> Q

    *OQBSUJDVMBS UIFGPMMPXJOHGFBUVSFTBSFEFИOFEJOUIF%0.$PSFTQFDJИDBUJPO <%0.$03&> Q

    Ǭ OOM JOUFSGBDF
    Ǭ !"21@>ODJI JOUFSGBDF
    Ǭ !JHH@IO JOUFSGBDF
    Ǭ "-+'HKG@H@IO<ODJI JOUFSGBDF
    Ǭ "J>PH@IO JOUFSGBDF
    Ǭ "J>PH@IO$M<BH@IO JOUFSGBDF
    Ǭ "J>PH@IO2TK@ JOUFSGBDF
    Ǭ "-+#S>@KODJI JOUFSGBDF
    Ǭ #G@H@IO JOUFSGBDF
    Ǭ ,J?@ JOUFSGBDF
    Ǭ ,J?@*DNO JOUFSGBDF
    Ǭ .MJ>@NNDIB'INOMP>ODJI JOUFSGBDF
    Ǭ 2@SO JOUFSGBDF
    Ǭ >M@<O@"J>PH@IO NFUIPE
    Ǭ B@O#G@H@IO T'? NFUIPE
    Ǭ DIN@MO @AJM@ NFUIPE
    Ǭ >CDG?,J?@N BUUSJCVUF
    Ǭ GJ><G,<H@ BUUSJCVUF
    Ǭ K<M@IO,J?@ BUUSJCVUF
    Ǭ O<B,<H@ BUUSJCVUF
    Ǭ O@SO!JIO@IO BUUSJCVUF

    5IFGPMMPXJOHGFBUVSFTBSFEFИOFEJOUIF%0.&WFOUTTQFDJИDBUJPO <%0.&7&/54> Q

    Ǭ #Q@IO JOUFSGBDF
    Ǭ #Q@IO2<MB@O JOUFSGBDF
    Ǭ 3'#Q@IO JOUFSGBDF
    Ǭ >GD>F FWFOU
    Ǭ "-+>ODQ<O@ FWFOU
    Ǭ O<MB@O BUUSJCVUF

    3?<% (
    5IF*%-GSBHNFOUTJOUIJTTQFDJИDBUJPONVTUCFJOUFSQSFUFEBTSFRVJSFEGPSDPOGPSNJOH*%-GSBHNFOUT BT
    EFTDSJCFEJOUIF8FC*%-TQFDJИDBUJPO <8&#*%-> Q

    
    &YDFQUXIFSFPUIFSXJTFTQFDJИFE JGBO*%-BUUSJCVUFUIBUJTBЙPBUJOHQPJOUOVNCFSUZQF GMPBU
    JTBTTJHOFEBO
    *OИOJUZPS/PUB/VNCFS /B/
    WBMVF B /05@4611035&%@&33 Q FYDFQUJPONVTUCFSBJTFE

    &YDFQUXIFSFPUIFSXJTFTQFDJИFE JGBNFUIPEXJUIBOBSHVNFOUUIBUJTBЙPBUJOHQPJOUOVNCFSUZQF GMPBU


    JT
    QBTTFEBO*OИOJUZPS/PUB/VNCFS /B/
    WBMVF B /05@4611035&%@&33 Q FYDFQUJPONVTUCFSBJTFE

    &;P;/=LCJN
    4PNFQBSUTPGUIFMBOHVBHFEFTDSJCFECZUIJTTQFDJИDBUJPOPOMZTVQQPSU+BWB4DSJQUBTUIFVOEFSMZJOHTDSJQUJOH
    MBOHVBHF <&$."> Q

    *HM> 0A>M>KF&:O:/<KBIMBLNL>=MHK>?>KMH!) K:MA>KMA:GMA>H]<B:EM>KF


    !)/<KBIM LBG<>MA>M>KF&:O:/<KBIMBLFHK>PB=>ERDGHPG /BFBE:KER MA> )%)!MRI> I
    NL>=MHK>?>KMH&:O:/<KBIMBGMABLLI><B[<:MBHGBL M>QMC:O:L<KBIM LBG<>MA:MBLMA>FHLM
    <HFFHGERNL>=MRI> =>LIBM>BM;>BG@:GH]<B:EERH;LHE>M>=MRI> I :<<HK=BG@MH."
    7."8 I

    )?>C;-O?LC?M
    *NQMFNFOUBUJPOTNVTUTVQQPSUTPNFWFSTJPOPGUIF.FEJB2VFSJFTMBOHVBHF <.2> Q

    1.%M
    %.%M
    % *
    *NQMFNFOUBUJPOTNVTUTVQQPSUUIFTFNBOUJDTPG 63-T Q EFИOFEJOUIF63*BOE*3*TQFDJИDBUJPOT BTXFMMBTUIF
    TFNBOUJDTPG*%/"EPNBJOOBNFTEFИOFEJOUIF =C4A=0C8>=0;8I8=6><08=$0<4B8=??;820C8>=B$
    TQFDJИDBUJPO <3'$> Q <3'$> Q <3'$> Q

    5IJTTQFDJИDBUJPOEPFTOPU A4@D8A4 TVQQPSUPGBOZQBSUJDVMBSOFUXPSLQSPUPDPM TUZMFTIFFUMBOHVBHF TDSJQUJOH


    MBOHVBHF PSBOZPGUIF%0.TQFDJИDBUJPOTCFZPOEUIPTFEFTDSJCFEBCPWF)PXFWFS UIFMBOHVBHFEFTDSJCFECZUIJT
    TQFDJИDBUJPOJTCJBTFEUPXBSET$44BTUIFTUZMJOHMBOHVBHF +BWB4DSJQUBTUIFTDSJQUJOHMBOHVBHF BOE)551BTUIF
    OFUXPSLQSPUPDPM BOETFWFSBMGFBUVSFTBTTVNFUIBUUIPTFMBOHVBHFTBOEQSPUPDPMTBSFJOVTF

    *HM> 0ABLLI><B[<:MBHGFB@AMA:O><>KM:BG:==BMBHG:EK>JNBK>F>GMLHG<A:K:<M>K>G<H=BG@L
    BF:@>?HKF:ML :N=BH?HKF:ML :G=OB=>H?HKF:MLBGMA>K>LI><MBO>L><MBHGL

       !RN?HMC<CFCNS

    )5.-IBTBXJEFOVNCFSPGFYUFOTJCJMJUZNFDIBOJTNTUIBUDBOCFVTFEGPSBEEJOHTFNBOUJDTJOBTBGFNBOOFS

    Ǭ "VUIPSTDBOVTFUIF DMBTT Q BUUSJCVUFUPFYUFOEFMFNFOUT FЗFDUJWFMZDSFBUJOHUIFJSPXOFMFNFOUT XIJMF


    VTJOHUIFNPTUBQQMJDBCMFFYJTUJOHSFBM)5.-FMFNFOU TPUIBUCSPXTFSTBOEPUIFSUPPMTUIBUEPOULOPXPG
    UIFFYUFOTJPODBOTUJMMTVQQPSUJUTPNFXIBUXFMM5IJTJTUIFUBDLVTFECZ.JDSPGPSNBUT GPSFYBNQMF

    Ǭ "VUIPSTDBOJODMVEFEBUBGPSJOMJOFDMJFOUTJEFTDSJQUTPSTFSWFSTJEFTJUFXJEFTDSJQUTUPQSPDFTTVTJOHUIF
    EBUB  Q BUUSJCVUFT5IFTFBSFHVBSBOUFFEUPOFWFSCFUPVDIFECZCSPXTFST BOEBMMPXTDSJQUTUPJODMVEF
    EBUBPO)5.-FMFNFOUTUIBUTDSJQUTDBOUIFOMPPLGPSBOEQSPDFTT

    Ǭ "VUIPSTDBOVTFUIF NFUBOBNFDPOUFOU Q NFDIBOJTNUPJODMVEFQBHFXJEFNFUBEBUBCZ


    SFHJTUFSJOH FYUFOTJPOTUPUIFQSFEFИOFETFUPGNFUBEBUBOBNFT Q 

    Ǭ "VUIPSTDBOVTFUIF SFM Q NFDIBOJTNUPBOOPUBUFMJOLTXJUITQFDJИDNFBOJOHTCZSFHJTUFSJOH


    FYUFOTJPOTUPUIFQSFEFИOFETFUPGMJOLUZQFT Q 5IJTJTBMTPVTFECZ.JDSPGPSNBUT

    Ǭ "VUIPSTDBOFNCFESBXEBUBVTJOHUIF TDSJQUUZQF Q NFDIBOJTNXJUIBDVTUPNUZQF GPSGVSUIFS


    IBOEMJOHCZBJOMJOFPSTFSWFSTJEFTDSJQUT

    Ǭ "VUIPSTDBODSFBUF QMVHJOT Q BOEJOWPLFUIFNVTJOHUIF FNCFE Q FMFNFOU5IJTJTIPX'MBTIXPSLT

    Ǭ "VUIPSTDBOFYUFOE"1*TVTJOHUIF+BWB4DSJQUQSPUPUZQJOHNFDIBOJTN5IJTJTXJEFMZVTFECZTDSJQUMJCSBSJFT
    GPSJOTUBODF

    Ǭ "VUIPSTDBOVTFUIFNJDSPEBUBGFBUVSF UIF JUFN BOE JUFNQSPQ Q BUUSJCVUFT


    UPFNCFEOFTUFE
    OBNFWBMVFQBJSTPGEBUBUPCFTIBSFEXJUIPUIFSBQQMJDBUJPOTBOETJUFT

    7FOEPSTQFDJИDQSPQSJFUBSZVTFSBHFOUFYUFOTJPOTUPUIJTTQFDJИDBUJPOBSFTUSPOHMZEJTDPVSBHFE%PDVNFOUTNVTUOPU
    VTFTVDIFYUFOTJPOT BTEPJOHTPSFEVDFTJOUFSPQFSBCJMJUZBOEGSBHNFOUTUIFVTFSCBTF BMMPXJOHPOMZVTFSTPGTQFDJИD
    VTFSBHFOUTUPBDDFTTUIFDPOUFOUJORVFTUJPO

    
    *GTVDIFYUFOTJPOTBSFOPOFUIFMFTTOFFEFE FHGPSFYQFSJNFOUBMQVSQPTFT UIFOWFOEPSTBSFTUSPOHMZVSHFEUPVTFPOF
    PGUIFGPMMPXJOHFYUFOTJPONFDIBOJTNT

    'PSNBSLVQMFWFMGFBUVSFTUIBUDBOCFMJNJUFEUPUIF9.-TFSJBMJ[BUJPOBOEOFFEOPUCFTVQQPSUFEJOUIF)5.-
    TFSJBMJ[BUJPO WFOEPSTTIPVMEVTFUIFOBNFTQBDFNFDIBOJTNUPEFИOFDVTUPNOBNFTQBDFTJOXIJDIUIFOPOTUBOEBSE
    FMFNFOUTBOEBUUSJCVUFTBSFTVQQPSUFE

    'PSNBSLVQMFWFMGFBUVSFTUIBUBSFJOUFOEFEGPSVTFXJUI UIF)5.-TZOUBY Q FYUFOTJPOTTIPVMECFMJNJUFEUPOFX


    BUUSJCVUFTPGUIFGPSN@.&'*,-* XIFSF E4=3>A JTBTIPSUTUSJOHUIBUJEFOUJИFTUIFWFOEPSSFTQPOTJCMFGPSUIF
    FYUFOTJPO BOE 540CDA4 JTUIFOBNFPGUIFGFBUVSF/FXFMFNFOUOBNFTTIPVMEOPUCFDSFBUFE6TJOHBUUSJCVUFTGPS
    TVDIFYUFOTJPOTFYDMVTJWFMZBMMPXTFYUFOTJPOTGSPNNVMUJQMFWFOEPSTUPDPFYJTUPOUIFTBNFFMFNFOU XIJDIXPVMEOPU
    CFQPTTJCMFXJUIFMFNFOUT6TJOHUIF@.&'*,-*GPSNBMMPXTFYUFOTJPOTUPCFNBEFXJUIPVUSJTLPGDPOЙJDUJOH
    XJUIGVUVSFBEEJUJPOTUPUIFTQFDJИDBUJPO

    'PSJOTUBODF BCSPXTFSOBNFE'FSSFU#SPXTFSDPVMEVTFGFSSFUBTBWFOEPSQSFИY XIJMFBCSPXTFSOBNFE


    .FMMCMPN#SPXTFSDPVMEVTFNC*GCPUIPGUIFTFCSPXTFSTJOWFOUFEFYUFOTJPOTUIBUUVSOFEFMFNFOUTJOUP
    TDSBUDIBOETOJЗBSFBT BOBVUIPSFYQFSJNFOUJOHXJUIUIFTFGFBUVSFTDPVMEXSJUF

    Q5IJTTNFMMTPGMFNPOT
    TQBO@GFSSFUTNFMMPWJTJPO@GFUUFSTNFMMDPEF-&.
    @NCPVUQVUTNFMM@NCTNFMMMFNPOKVJDFTQBOQ

    "UUSJCVUFOBNFTTUBSUJOHXJUIB6 '-08-*/&DIBSBDUFS @
    BSFSFTFSWFEGPSVTFSBHFOUVTFBOEBSFHVBSBOUFFEUP
    OFWFSCFGPSNBMMZBEEFEUPUIF)5.-MBOHVBHF

    *HM> ,:@>LMA:MNL>LN<A:MMKB;NM>L:K>;R=>[GBMBHGGHG
    <HG?HKFBG@

    'PS%0.FYUFOTJPOT FHOFXNFUIPETBOE*%-BUUSJCVUFT UIFOFXNFNCFSTTIPVMECFQSFИYFECZWFOEPSTQFDJИD


    TUSJOHTUPQSFWFOUDMBTIFTXJUIGVUVSFWFSTJPOTPGUIJTTQFDJИDBUJPO

    "MMFYUFOTJPOTNVTUCFEFИOFETPUIBUUIFVTFPGFYUFOTJPOTOFJUIFSDPOUSBEJDUTOPSDBVTFTUIFOPODPOGPSNBODFPG
    GVODUJPOBMJUZEFИOFEJOUIFTQFDJИDBUJPO

    'PSFYBNQMF XIJMFTUSPOHMZEJTDPVSBHFEGSPNEPJOHTP BOJNQMFNFOUBUJPO'PP#SPXTFSDPVMEBEEBOFX*%-


    BUUSJCVUFGPP5ZQF5JNFUPBDPOUSPMT%0.JOUFSGBDFUIBUSFUVSOFEUIFUJNFJUUPPLUIFVTFSUPTFMFDUUIFDVSSFOU
    WBMVFPGBDPOUSPM TBZ
    0OUIFPUIFSIBOE EFИOJOHBOFXDPOUSPMUIBUBQQFBSTJOBGPSNT FMFNFOUT Q BSSBZ
    XPVMECFJOWJPMBUJPOPGUIFBCPWFSFRVJSFNFOU BTJUXPVMEWJPMBUFUIFEFИOJUJPOPG FMFNFOUT Q HJWFOJOUIJT
    TQFDJИDBUJPO

    8IFOWFOEPSOFVUSBMFYUFOTJPOTUPUIJTTQFDJИDBUJPOBSFOFFEFE FJUIFSUIJTTQFDJИDBUJPODBOCFVQEBUFEBDDPSEJOHMZ
    PSBOFYUFOTJPOTQFDJИDBUJPODBOCFXSJUUFOUIBUPWFSSJEFTUIFSFRVJSFNFOUTJOUIJTTQFDJИDBUJPO8IFOTPNFPOF
    BQQMZJOHUIJTTQFDJИDBUJPOUPUIFJSBDUJWJUJFTEFDJEFTUIBUUIFZXJMMSFDPHOJ[FUIFSFRVJSFNFOUTPGTVDIBOFYUFOTJPO
    TQFDJИDBUJPO JUCFDPNFTBO ;JJFC=;<F?MJ?=C]=;NCIH GPSUIFQVSQPTFTPGDPOGPSNBODFSFRVJSFNFOUTJOUIJT
    TQFDJИDBUJPO

    6TFSBHFOUTNVTUUSFBUFMFNFOUTBOEBUUSJCVUFTUIBUUIFZEPOPUVOEFSTUBOEBTTFNBOUJDBMMZOFVUSBMMFBWJOHUIFNJO
    UIF%0. GPS%0.QSPDFTTPST
    BOETUZMJOHUIFNBDDPSEJOHUP$44 GPS$44QSPDFTTPST
    CVUOPUJOGFSSJOHBOZNFBOJOH
    GSPNUIFN

    8IFOTVQQPSUGPSBGFBUVSFJTEJTBCMFE FHBTBOFNFSHFODZNFBTVSFUPNJUJHBUFBTFDVSJUZQSPCMFN PSUPBJEJO


    EFWFMPQNFOU PSGPSQFSGPSNBODFSFBTPOT
    VTFSBHFOUTNVTUBDUBTJGUIFZIBEOPTVQQPSUGPSUIFGFBUVSFXIBUTPFWFS
    BOEBTJGUIFGFBUVSFXBTOPUNFOUJPOFEJOUIJTTQFDJИDBUJPO'PSFYBNQMF JGBQBSUJDVMBSGFBUVSFJTBDDFTTFEWJBBO
    BUUSJCVUFJOB8FC*%-JOUFSGBDF UIFBUUSJCVUFJUTFMGXPVMECFPNJUUFEGSPNUIFPCKFDUTUIBUJNQMFNFOUUIBUJOUFSGBDFǡ
    MFBWJOHUIFBUUSJCVUFPOUIFPCKFDUCVUNBLJOHJUSFUVSOOVMMPSUISPXBOFYDFQUJPOJTJOTVКDJFOU

      ;M? M?HMCNCPCNS;H>MNLCHA=IGJ;LCMIH

    $PNQBSJOHUXPTUSJOHTJOB =;M? M?HMCNCP? NBOOFSNFBOTDPNQBSJOHUIFNFYBDUMZ DPEFQPJOUGPSDPEFQPJOU

    $PNQBSJOHUXPTUSJOHTJOBO /%%=;M? CHM?HMCNCP? NBOOFSNFBOTDPNQBSJOHUIFNFYBDUMZ DPEFQPJOUGPSDPEF


    QPJOU FYDFQUUIBUUIFDIBSBDUFSTJOUIFSBOHF6 UP6 " JF-"5*/$"1*5"--&55&3"UP-"5*/$"1*5"-
    -&55&3;
    BOEUIFDPSSFTQPOEJOHDIBSBDUFSTJOUIFSBOHF6 UP6 " JF-"5*/4."---&55&3"UP-"5*/
    4."---&55&3;
    BSFDPOTJEFSFEUPBMTPNBUDI

    
    $PNQBSJOHUXPTUSJOHTJOB =IGJ;NC<CFCNS=;M?F?MM NBOOFSNFBOTVTJOHUIF6OJDPEF 2><?0C818;8CH20B4;4BB<0C27
    PQFSBUJPOUPDPNQBSFUIFUXPTUSJOHT <6/*$0%&> Q

    IHP?LNCHA;MNLCHANI/%%OJJ?L=;M? NFBOTSFQMBDJOHBMMDIBSBDUFSTJOUIFSBOHF6 UP6 " JF-"5*/


    4."---&55&3"UP-"5*/4."---&55&3;
    XJUIUIFDPSSFTQPOEJOHDIBSBDUFSTJOUIFSBOHF6 UP6 " JF
    -"5*/$"1*5"--&55&3"UP-"5*/$"1*5"--&55&3;
    

    IHP?LNCHA;MNLCHANI/%%FIQ?L=;M? NFBOTSFQMBDJOHBMMDIBSBDUFSTJOUIFSBOHF6 UP6 " JF-"5*/


    $"1*5"--&55&3"UP-"5*/$"1*5"--&55&3;
    XJUIUIFDPSSFTQPOEJOHDIBSBDUFSTJOUIFSBOHF6 UP6 " JF
    -"5*/4."---&55&3"UP-"5*/4."---&55&3;
    

    "TUSJOH ?0CC4A= JTB JL?]RG;N=B GPSBTUSJOH B XIFO ?0CC4A= JTOPUMPOHFSUIBO B BOEUSVODBUJOH B UP ?0CC4A=TMFOHUI
    MFBWFTUIFUXPTUSJOHTBTNBUDIFTPGFBDIPUIFS

      IGGIHGC=LIMSHN;R?M

    5IFSFBSFWBSJPVTQMBDFTJO)5.-UIBUBDDFQUQBSUJDVMBSEBUBUZQFT TVDIBTEBUFTPSOVNCFST5IJTTFDUJPOEFTDSJCFT
    XIBUUIFDPOGPSNBODFDSJUFSJBGPSDPOUFOUJOUIPTFGPSNBUTJT BOEIPXUPQBSTFUIFN

    *HM> %FIE>F>GMHKL:K>LMKHG@ERNK@>=MH<:K>?NEER>Q:FBG>:GRMABK=
    I:KMREB;K:KB>LMA>RFB@AM
    <HGLB=>KNLBG@MHBFIE>F>GMMA>I:KLBG@H?LRGM:Q>L=>L<KB;>=;>EHP "HK>Q:FIE> =:M>EB;K:KB>L
    :K>EBD>ERMHBFIE>F>GM>KKHKA:G=EBG@;>A:OBHKMA:M=BZ>KL?KHFPA:MBLK>JNBK>=BGMABL
    LI><B[<:MBHG LBG<>>KKHK
    A:G=EBG@;>A:OBHKBLH?M>GGHM=>[G>=BGLI><B[<:MBHGLMA:M=>L<KB;>
    =:M>LRGM:Q>LLBFBE:KMHMAHL>NL>=BGMABLLI><B[<:MBHG :G=MANLBFIE>F>GM:MBHGLM>G=MHO:KR
    @K>:MERBGAHPMA>RA:G=E>>KKHKL

       IGGIHJ;LM?LC>CIGM

    5IF MJ;=?=B;L;=N?LM GPSUIFQVSQPTFTPGUIJTTQFDJИDBUJPO BSF6 41"$& 6 $)"3"$5&35"#6-"5*0/


    UBC
    6 "-*/&'&&% -'
    6 $'03.'&&% ''
    BOE6 %$"33*"(&3&563/ $3
    

    5IF 3BCN?9/J;=?=B;L;=N?LM BSFUIPTFUIBUIBWFUIF6OJDPEFQSPQFSUZ8IJUF@4QBDFJOUIF6OJDPEF 1SPQ-JTUUYU


    EBUBИMF <6/*$0%&> Q

    *HM> 0ABLLAHNE=GHM;><HG?NL>=PBMAMA>3ABM>9/I:<>O:EN>:;;K>OB:M>=3/H?MA>
    B=B9E:LLIKHI>KMRBGMA> 3GB<H=> MQM =:M:[E>

    5IF ;FJB;HOG?LC=/%%=B;L;=N?LM BSFUIPTFJOUIFSBOHFT6 %*(*5;&30 


    UP6 %*(*5/*/& 

    6 -"5*/$"1*5"--&55&3"UP6 "-"5*/$"1*5"--&55&3; 6 -"5*/4."---&55&3"UP6 "
    -"5*/4."---&55&3;

    4PNFPGUIFNJDSPQBSTFSTEFTDSJCFECFMPXGPMMPXUIFQBUUFSOPGIBWJOHBO 8=?DC WBSJBCMFUIBUIPMETUIFTUSJOHCFJOH


    QBSTFE BOEIBWJOHB ?>B8C8>= WBSJBCMFQPJOUJOHBUUIFOFYUDIBSBDUFSUPQBSTFJO 8=?DC

    'PSQBSTFSTCBTFEPOUIJTQBUUFSO BTUFQUIBUSFRVJSFTUIFVTFSBHFOUUP =IFF?=N;M?KO?H=?I@=B;L;=N?LM NFBOT


    UIBUUIFGPMMPXJOHBMHPSJUINNVTUCFSVO XJUI 270A02C4AB CFJOHUIFTFUPGDIBSBDUFSTUIBUDBOCFDPMMFDUFE

     -FU 8=?DC BOE ?>B8C8>= CFUIFTBNFWBSJBCMFTBTUIPTFPGUIFTBNFOBNFJOUIFBMHPSJUINUIBUJOWPLFEUIFTF


    TUFQT

     -FU A4BD;C CFUIFFNQUZTUSJOH

     8IJMF ?>B8C8>= EPFTOUQPJOUQBTUUIFFOEPG 8=?DC BOEUIFDIBSBDUFSBU ?>B8C8>= JTPOFPGUIF 270A02C4AB


    BQQFOEUIBUDIBSBDUFSUPUIFFOEPG A4BD;C BOEBEWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFSJO 8=?DC

     3FUVSO A4BD;C

    5IFTUFQ MECJQBCN?MJ;=? NFBOTUIBUUIFVTFSBHFOUNVTU DPMMFDUBTFRVFODFPGDIBSBDUFST Q UIBUBSF TQBDF


    DIBSBDUFST Q 5IFTUFQ MECJ3BCN?9/J;=?=B;L;=N?LM NFBOTUIBUUIFVTFSBHFOUNVTU DPMMFDUBTFRVFODFPG
    DIBSBDUFST Q UIBUBSF 8IJUF@4QBDF Q DIBSBDUFST*OCPUIDBTFT UIFDPMMFDUFEDIBSBDUFSTBSFOPUVTFE <6/*$0%&> Q

    8IFOBVTFSBHFOUJTUP MNLCJFCH?<L?;EM GSPNBTUSJOH UIFVTFSBHFOUNVTUSFNPWFBOZ6 "-*/&'&&% -'


    BOE
    6 %$"33*"(&3&563/ $3
    DIBSBDUFSTGSPNUIBUTUSJOH

    8IFOBVTFSBHFOUJTUP MNLCJF?;>CHA;H>NL;CFCHAQBCN?MJ;=? GSPNBTUSJOH UIFVTFSBHFOUNVTUSFNPWFBMM TQBDF


    DIBSBDUFST Q UIBUBSFBUUIFTUBSUPSFOEPGUIFTUSJOH

    
    5IF =I>? JICHNF?HANB PGBTUSJOHJTUIFOVNCFSPG6OJDPEFDPEFQPJOUTJOUIBUTUSJOH

       IIF?;H;NNLC<ON?M

    "OVNCFSPGBUUSJCVUFTBSF <IIF?;H;NNLC<ON?M5IFQSFTFODFPGBCPPMFBOBUUSJCVUFPOBOFMFNFOUSFQSFTFOUTUIF
    USVFWBMVF BOEUIFBCTFODFPGUIFBUUSJCVUFSFQSFTFOUTUIFGBMTFWBMVF

    *GUIFBUUSJCVUFJTQSFTFOU JUTWBMVFNVTUFJUIFSCFUIFFNQUZTUSJOHPSBWBMVFUIBUJTBO "4$**DBTFJOTFOTJUJWF Q


    NBUDIGPSUIFBUUSJCVUFTDBOPOJDBMOBNF XJUIOPMFBEJOHPSUSBJMJOHXIJUFTQBDF

    *HM> 0A>O:EN>LMKN>:G=?:EL>:K>GHM:EEHP>=HG;HHE>:G:MMKB;NM>L 0HK>IK>L>GM:?:EL>


    O:EN> MA>:MMKB;NM>A:LMH;>HFBMM>=:EMH@>MA>K

       '?SQIL>M;H>?HOG?L;N?>;NNLC<ON?M

    4PNFBUUSJCVUFTBSFEFИOFEBTUBLJOHPOFPGBИOJUFTFUPGLFZXPSET4VDIBUUSJCVUFTBSFDBMMFE ?HOG?L;N?>
    ;NNLC<ON?M5IFLFZXPSETBSFFBDIEFИOFEUPNBQUPBQBSUJDVMBS BC0C4 TFWFSBMLFZXPSETNJHIUNBQUPUIFTBNF
    TUBUF JOXIJDIDBTFTPNFPGUIFLFZXPSETBSFTZOPOZNTPGFBDIPUIFSBEEJUJPOBMMZ TPNFPGUIFLFZXPSETDBOCFTBJE
    UPCFOPODPOGPSNJOH BOEBSFPOMZJOUIFTQFDJИDBUJPOGPSIJTUPSJDBMSFBTPOT
    *OBEEJUJPO UXPEFGBVMUTUBUFTDBOCF
    HJWFO5IFИSTUJTUIF 8=E0;83E0;D43450D;C UIFTFDPOEJTUIF <8BB8=6E0;D43450D;C

    *GBOFOVNFSBUFEBUUSJCVUFJTTQFDJИFE UIFBUUSJCVUFTWBMVFNVTUCFBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSPOFPGUIF


    HJWFOLFZXPSETUIBUBSFOPUTBJEUPCFOPODPOGPSNJOH XJUIOPMFBEJOHPSUSBJMJOHXIJUFTQBDF

    8IFOUIFBUUSJCVUFJTTQFDJИFE JGJUTWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSPOFPGUIFHJWFOLFZXPSETUIFO


    UIBULFZXPSETTUBUFJTUIFTUBUFUIBUUIFBUUSJCVUFSFQSFTFOUT*GUIFBUUSJCVUFWBMVFNBUDIFTOPOFPGUIFHJWFO
    LFZXPSET CVUUIFBUUSJCVUFIBTBO 8=E0;83E0;D43450D;C UIFOUIFBUUSJCVUFSFQSFTFOUTUIBUTUBUF0UIFSXJTF JGUIF
    BUUSJCVUFWBMVFNBUDIFTOPOFPGUIFLFZXPSETCVUUIFSFJTB <8BB8=6E0;D43450D;C TUBUFEFИOFE UIFO C70C JTUIFTUBUF
    SFQSFTFOUFECZUIFBUUSJCVUF0UIFSXJTF UIFSFJTOPEFGBVMU BOEJOWBMJEWBMVFTNVTUCFJHOPSFE

    8IFOUIFBUUSJCVUFJT =>C TQFDJИFE JGUIFSFJTB <8BB8=6E0;D43450D;C TUBUFEFИOFE UIFOUIBUJTUIFTUBUFSFQSFTFOUFE


    CZUIF NJTTJOH
    BUUSJCVUF0UIFSXJTF UIFBCTFODFPGUIFBUUSJCVUFNFBOTUIBUUIFSFJTOPTUBUFSFQSFTFOUFE

    *HM> 0A>>FIMRLMKBG@<:G;>:O:EB=D>RPHK=

       *OG<?LM
        *IH H?A;NCP?CHN?A?LM

    "TUSJOHJTB P;FC>HIH H?A;NCP?CHN?A?L JGJUDPOTJTUTPGPOFPSNPSFDIBSBDUFSTJOUIFSBOHF6 %*(*5;&30 

    UP6 %*(*5/*/& 
    

    " WBMJEOPOOFHBUJWFJOUFHFS Q SFQSFTFOUTUIFOVNCFSUIBUJTSFQSFTFOUFEJOCBTFUFOCZUIBUTUSJOHPGEJHJUT

    5IF LOF?M@ILJ;LMCHAHIH H?A;NCP?CHN?A?LM BSFBTHJWFOJOUIFGPMMPXJOHBMHPSJUIN8IFOJOWPLFE UIFTUFQTNVTU


    CFGPMMPXFEJOUIFPSEFSHJWFO BCPSUJOHBUUIFИSTUTUFQUIBUSFUVSOTBWBMVF5IJTBMHPSJUINXJMMSFUVSOFJUIFS[FSP B
    QPTJUJWFJOUFHFS PSBOFSSPS-FBEJOHTQBDFTBSFJHOPSFE5SBJMJOHTQBDFTBOEBOZUSBJMJOHHBSCBHFDIBSBDUFSTBSF
    JHOPSFE

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     4LJQXIJUFTQBDF Q 

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSOBOFSSPS

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTB6 #1-644*(/DIBSBDUFS


    BEWBODF ?>B8C8>= UPUIFOFYU
    DIBSBDUFS 5IF JTJHOPSFE CVUJUJTOPUDPOGPSNJOH

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSOBOFSSPS

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTOPUPOFPG6 %*(*5;&30 


    UP6 %*(*5/*/& 
    UIFO
    SFUVSOBOFSSPS

    
     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    BOE
    JOUFSQSFUUIFSFTVMUJOHTFRVFODFBTBCBTFUFOJOUFHFS-FU E0;D4 CFUIBUJOUFHFS

     3FUVSO E0;D4

        /CAH?>CHN?A?LM

    "TUSJOHJTB P;FC>CHN?A?L JGJUDPOTJTUTPGPOFPSNPSFDIBSBDUFSTJOUIFSBOHF6 %*(*5;&30 


    UP6 
    %*(*5/*/& 
    PQUJPOBMMZQSFИYFEXJUIB6 %):1)&/.*/64DIBSBDUFS 
    

    " WBMJEJOUFHFS Q XJUIPVUB6 %):1)&/.*/64 


    QSFИYSFQSFTFOUTUIFOVNCFSUIBUJTSFQSFTFOUFEJOCBTFUFO
    CZUIBUTUSJOHPGEJHJUT" WBMJEJOUFHFS Q F8C7 B6 %):1)&/.*/64 
    QSFИYSFQSFTFOUTUIFOVNCFSSFQSFTFOUFE
    JOCBTFUFOCZUIFTUSJOHPGEJHJUTUIBUGPMMPXTUIF6 %):1)&/.*/64 TVCUSBDUFEGSPN[FSP

    5IF LOF?M@ILJ;LMCHACHN?A?LM BSFTJNJMBSUPUIF SVMFTGPSOPOOFHBUJWFJOUFHFST Q BOEBSFBTHJWFOJOUIFGPMMPXJOH


    BMHPSJUIN8IFOJOWPLFE UIFTUFQTNVTUCFGPMMPXFEJOUIFPSEFSHJWFO BCPSUJOHBUUIFИSTUTUFQUIBUSFUVSOTBWBMVF
    5IJTBMHPSJUINXJMMSFUVSOFJUIFSBOJOUFHFSPSBOFSSPS-FBEJOHTQBDFTBSFJHOPSFE5SBJMJOHTQBDFTBOEUSBJMJOHHBSCBHF
    DIBSBDUFSTBSFJHOPSFE

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     -FU B86= IBWFUIFWBMVFQPTJUJWF

     4LJQXIJUFTQBDF Q 

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSOBOFSSPS

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= UIFИSTUDIBSBDUFS


    JTB6 %):1)&/.*/64DIBSBDUFS 
    

     -FU B86= CFOFHBUJWF

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSOBOFSSPS

    0UIFSXJTF JGUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= UIFИSTUDIBSBDUFS


    JTB6 #1-644*(/DIBSBDUFS
    

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS 5IF JTJHOPSFE CVUJUJTOPUDPOGPSNJOH

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSOBOFSSPS

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTOPUPOFPG6 %*(*5;&30 


    UP6 %*(*5/*/& 
    UIFO
    SFUVSOBOFSSPS

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    BOE
    JOUFSQSFUUIFSFTVMUJOHTFRVFODFBTBCBTFUFOJOUFHFS-FU E0;D4 CFUIBUJOUFHFS

     *G B86= JTQPTJUJWF SFUVSO E0;D4 PUIFSXJTFSFUVSOUIFSFTVMUPGTVCUSBDUJOH E0;D4 GSPN[FSP

        .?;FHOG<?LM

    "TUSJOHJTB P;FC>^I;NCHAJICHNHOG<?L JGJUDPOTJTUTPG

     0QUJPOBMMZ B6 %):1)&/.*/64DIBSBDUFS 


    
     "TFSJFTPGPOFPSNPSFDIBSBDUFSTJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    
     0QUJPOBMMZ
     "TJOHMF6 &'6--4501DIBSBDUFS 
    
     "TFSJFTPGPOFPSNPSFDIBSBDUFSTJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    
     0QUJPOBMMZ
     &JUIFSB6 -"5*/4."---&55&3&DIBSBDUFS F
    PSB6 -"5*/$"1*5"--&55&3&
    DIBSBDUFS &
    
     0QUJPOBMMZ B6 %):1)&/.*/64DIBSBDUFS 
    PS6 #1-644*(/DIBSBDUFS
    
     "TFSJFTPGPOFPSNPSFDIBSBDUFSTJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    

    " WBMJEЙPBUJOHQPJOUOVNCFS Q SFQSFTFOUTUIFOVNCFSPCUBJOFECZNVMUJQMZJOHUIFTJHOJИDBOECZUFOSBJTFEUPUIF


    QPXFSPGUIFFYQPOFOU XIFSFUIFTJHOJИDBOEJTUIFИSTUOVNCFS JOUFSQSFUFEBTCBTFUFO JODMVEJOHUIFEFDJNBMQPJOU
    BOEUIFOVNCFSBGUFSUIFEFDJNBMQPJOU JGBOZ BOEJOUFSQSFUJOHUIFTJHOJИDBOEBTBOFHBUJWFOVNCFSJGUIFXIPMF
    TUSJOHTUBSUTXJUIB6 %):1)&/.*/64DIBSBDUFS 
    BOEUIFOVNCFSJTOPU[FSP
    BOEXIFSFUIFFYQPOFOUJTUIF
    OVNCFSBGUFSUIF& JGBOZ JOUFSQSFUFEBTBOFHBUJWFOVNCFSJGUIFSFJTB6 %):1)&/.*/64DIBSBDUFS 

    
    CFUXFFOUIF&BOEUIFOVNCFSBOEUIFOVNCFSJTOPU[FSP PSFMTFJHOPSJOHB6 #1-644*(/DIBSBDUFS

    CFUXFFOUIF&BOEUIFOVNCFSJGUIFSFJTPOF
    *GUIFSFJTOP& UIFOUIFFYQPOFOUJTUSFBUFEBT[FSP

    *HM> 0A>%G[GBMR:G=*HM
    :
    *NF;>K*:*O:EN>L:K>GHM O:EB=\H:MBG@IHBGMGNF;>KL I

    5IF <?MNL?JL?M?HN;NCIHI@NB?HOG<?L G ;M;^I;NCHAJICHNHOG<?L JTUIFTUSJOHPCUBJOFEGSPNBQQMZJOHUIF


    +BWB4DSJQUPQFSBUPS5P4USJOHUP =5IF+BWB4DSJQUPQFSBUPS5P4USJOHJTOPUVOJRVFMZEFUFSNJOFE8IFOUIFSFBSFNVMUJQMF
    QPTTJCMFTUSJOHTUIBUDPVMECFPCUBJOFEGSPNUIF+BWB4DSJQUPQFSBUPS5P4USJOHGPSBQBSUJDVMBSWBMVF UIFVTFSBHFOU
    NVTUBMXBZTSFUVSOUIFTBNFTUSJOHGPSUIBUWBMVF UIPVHIJUNBZEJЗFSGSPNUIFWBMVFVTFECZPUIFSVTFSBHFOUT
    

    5IF LOF?M@ILJ;LMCHA^I;NCHAJICHNHOG<?LP;FO?M BSFBTHJWFOJOUIFGPMMPXJOHBMHPSJUIN5IJTBMHPSJUINNVTU


    CFBCPSUFEBUUIFИSTUTUFQUIBUSFUVSOTTPNFUIJOH5IJTBMHPSJUINXJMMSFUVSOFJUIFSBOVNCFSPSBOFSSPS-FBEJOH
    TQBDFTBSFJHOPSFE5SBJMJOHTQBDFTBOEHBSCBHFDIBSBDUFSTBSFJHOPSFE

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     -FU E0;D4 IBWFUIFWBMVF

     -FU 38E8B>A IBWFUIFWBMVF

     -FU 4G?>=4=C IBWFUIFWBMVF

     4LJQXIJUFTQBDF Q 

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSOBOFSSPS

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTB6 %):1)&/.*/64DIBSBDUFS 


    

     $IBOHF E0;D4 BOE 38E8B>A UPʐ

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSOBOFSSPS

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTOPUPOFPG6 %*(*5;&30 


    UP6 %*(*5/*/& 
    UIFO
    SFUVSOBOFSSPS

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    BOE
    JOUFSQSFUUIFSFTVMUJOHTFRVFODFBTBCBTFUFOJOUFHFS.VMUJQMZ E0;D4 CZUIBUJOUFHFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC KVNQUPUIFTUFQMBCFMFE 2>=E4AB8>=

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTB6 &'6--4501 


    SVOUIFTFTVCTUFQT

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC PSJGUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTOPUPOFPG6 


    %*(*5;&30 
    UP6 %*(*5/*/& 
    UIFOKVNQUPUIFTUFQMBCFMFE 2>=E4AB8>=

     A02C8>=;>>?.VMUJQMZ 38E8B>A CZUFO

     "EEUIFWBMVFPGUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JOUFSQSFUFEBTBCBTFUFOEJHJU 


    BOE
    EJWJEFECZ 38E8B>A UP E0;D4

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC UIFOKVNQUPUIFTUFQMBCFMFE 2>=E4AB8>=

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTPOFPG6 %*(*5;&30 


    UP6 %*(*5/*/& 

    KVNQCBDLUPUIFTUFQMBCFMFE 5A02C8>=;>>? JOUIFTFTVCTUFQT

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTB6 -"5*/4."---&55&3&DIBSBDUFS F


    PSB6 -"5*/
    $"1*5"--&55&3&DIBSBDUFS &
    SVOUIFTFTVCTUFQT

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC UIFOKVNQUPUIFTUFQMBCFMFE 2>=E4AB8>=

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTB6 %):1)&/.*/64DIBSBDUFS 


    

    
     $IBOHF 4G?>=4=C UPʐ

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC UIFOKVNQUPUIFTUFQMBCFMFE 2>=E4AB8>=

    0UIFSXJTF JGUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTB6 #1-644*(/DIBSBDUFS


    

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC UIFOKVNQUPUIFTUFQMBCFMFE 2>=E4AB8>=

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTOPUPOFPG6 %*(*5;&30 


    UP6 %*(*5/*/&
    
    UIFOKVNQUPUIFTUFQMBCFMFE 2>=E4AB8>=

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/&
    
    BOEJOUFSQSFUUIFSFTVMUJOHTFRVFODFBTBCBTFUFOJOUFHFS.VMUJQMZ 4G?>=4=C CZUIBUJOUFHFS

     .VMUJQMZ E0;D4 CZUFOSBJTFEUPUIF 4G?>=4=CUIQPXFS

     >=E4AB8>=-FU ) CFUIFTFUPGИOJUF*&&&TJOHMFQSFDJTJPOЙPBUJOHQPJOUWBMVFTFYDFQUʐ CVUXJUIUXP


    TQFDJBMWBMVFTBEEFE BOEʐ

     -FU A>D=343E0;D4 CFUIFOVNCFSJO ) UIBUJTDMPTFTUUP E0;D4 TFMFDUJOHUIFOVNCFSXJUIBOFWFOTJHOJИDBOE


    JGUIFSFBSFUXPFRVBMMZDMPTFWBMVFT 5IFUXPTQFDJBMWBMVFT BOEʐ BSFDPOTJEFSFEUPIBWFFWFO
    TJHOJИDBOETGPSUIJTQVSQPTF

     *G A>D=343E0;D4 JT PSʐ SFUVSOBOFSSPS

     3FUVSO A>D=343E0;D4

        ,?L=?HN;A?M;H>F?HANBM

    5IF LOF?M@ILJ;LMCHA>CG?HMCIHP;FO?M BSFBTHJWFOJOUIFGPMMPXJOHBMHPSJUIN8IFOJOWPLFE UIFTUFQTNVTUCF


    GPMMPXFEJOUIFPSEFSHJWFO BCPSUJOHBUUIFИSTUTUFQUIBUSFUVSOTBWBMVF5IJTBMHPSJUINXJMMSFUVSOFJUIFSBOVNCFS
    HSFBUFSUIBOPSFRVBMUP PSBOFSSPSJGBOVNCFSJTSFUVSOFE UIFOJUJTGVSUIFSDBUFHPSJ[FEBTFJUIFSBQFSDFOUBHF
    PSBMFOHUI

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     4LJQXIJUFTQBDF Q 

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSOBOFSSPS

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTB6 #1-644*(/DIBSBDUFS


    BEWBODF ?>B8C8>= UPUIFOFYU
    DIBSBDUFS

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q UIBUBSF6 %*(*5;&30 


    DIBSBDUFST BOEEJTDBSEUIFN

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSOBOFSSPS

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTOPUPOFPG6 %*(*50/& 


    UP6 %*(*5/*/& 
    UIFO
    SFUVSOBOFSSPS

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    BOE
    JOUFSQSFUUIFSFTVMUJOHTFRVFODFBTBCBTFUFOJOUFHFS-FU E0;D4 CFUIBUOVNCFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSO E0;D4 BTBMFOHUI

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTB6 &'6--4501DIBSBDUFS 


    

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC PSJGUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTOPUPOFPG6 


    %*(*5;&30 
    UP6 %*(*5/*/& 
    UIFOSFUVSO E0;D4 BTBMFOHUI

     -FU 38E8B>A IBWFUIFWBMVF

     A02C8>=;>>?.VMUJQMZ 38E8B>A CZUFO

    
     "EEUIFWBMVFPGUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JOUFSQSFUFEBTBCBTFUFOEJHJU 
    BOE
    EJWJEFECZ 38E8B>A UP E0;D4

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC UIFOSFUVSO E0;D4 BTBMFOHUI

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTPOFPG6 %*(*5;&30 


    UP6 %*(*5/*/& 

    SFUVSOUPUIFTUFQMBCFMFE 5A02C8>=;>>? JOUIFTFTVCTUFQT

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC SFUVSO E0;D4 BTBMFOHUI

     *GUIFDIBSBDUFSJOEJDBUFECZ ?>B8C8>= JTB6 1&3$&/54*(/DIBSBDUFS 


    SFUVSO E0;D4 BTB
    QFSDFOUBHF

     3FUVSO E0;D4 BTBMFOHUI

        (CMNMI@CHN?A?LM

    " P;FC>FCMNI@CHN?A?LM JTBOVNCFSPG WBMJEJOUFHFST Q TFQBSBUFECZ6 $$0.."DIBSBDUFST XJUIOPPUIFS


    DIBSBDUFST FHOP TQBDFDIBSBDUFST Q
    *OBEEJUJPO UIFSFNJHIUCFSFTUSJDUJPOTPOUIFOVNCFSPGJOUFHFSTUIBUDBOCF
    HJWFO PSPOUIFSBOHFPGWBMVFTBMMPXFE

    5IF LOF?M@ILJ;LMCHA;FCMNI@CHN?A?LM BSFBTGPMMPXT

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     -FU =D<14AB CFBOJOJUJBMMZFNQUZMJTUPGJOUFHFST5IJTMJTUXJMMCFUIFSFTVMUPGUIJTBMHPSJUIN

     *GUIFSFJTBDIBSBDUFSJOUIFTUSJOH 8=?DC BUQPTJUJPO ?>B8C8>= BOEJUJTFJUIFSB6 41"$& 6 $


    $0.." PS6 #4&.*$0-0/DIBSBDUFS UIFOBEWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFSJO 8=?DC PSUP
    CFZPOEUIFFOEPGUIFTUSJOHJGUIFSFBSFOPNPSFDIBSBDUFST

     *G ?>B8C8>= QPJOUTUPCFZPOEUIFFOEPG 8=?DC SFUVSO =D<14AB BOEBCPSU

     *GUIFDIBSBDUFSJOUIFTUSJOH 8=?DC BUQPTJUJPO ?>B8C8>= JTB6 41"$& 6 $$0.." PS6 #


    4&.*$0-0/DIBSBDUFS UIFOSFUVSOUPTUFQ

     -FU =460C43 CFGBMTF

     -FU E0;D4 CF

     -FU BC0AC43 CFGBMTF5IJTWBSJBCMFJTTFUUPUSVFXIFOUIFQBSTFSTFFTBOVNCFSPSB6 %):1)&/.*/64


    DIBSBDUFS 
    

     -FU 6>C=D<14A CFGBMTF5IJTWBSJBCMFJTTFUUPUSVFXIFOUIFQBSTFSTFFTBOVNCFS

     -FU P=8B743 CFGBMTF5IJTWBSJBCMFJTTFUUPUSVFUPTXJUDIQBSTFSJOUPBNPEFXIFSFJUJHOPSFTDIBSBDUFST


    VOUJMUIFOFYUTFQBSBUPS

     -FU 1>6DB CFGBMTF

     &0AB4A*GUIFDIBSBDUFSJOUIFTUSJOH 8=?DC BUQPTJUJPO ?>B8C8>= JT

    X 1  $5,$!* )%*1/=B;L;=N?L


    'PMMPXUIFTFTVCTUFQT

     *G 6>C=D<14A JTUSVF MFU P=8B743 CFUSVF

     *G P=8B743 JTUSVF TLJQUPUIFOFYUTUFQJOUIFPWFSBMMTFUPGTUFQT

     *G BC0AC43 JTUSVF MFU =460C43 CFGBMTF

     0UIFSXJTF JG BC0AC43 JTGBMTFBOEJG 1>6DB JTGBMTF MFU =460C43 CFUSVF

     -FU BC0AC43 CFUSVF

    X =B;L;=N?LCHNB?L;HA?1  %#%06!.+NI1  %#%0*%*!


    'PMMPXUIFTFTVCTUFQT

    
     *G P=8B743 JTUSVF TLJQUPUIFOFYUTUFQJOUIFPWFSBMMTFUPGTUFQT

     .VMUJQMZ E0;D4 CZUFO

     "EEUIFWBMVFPGUIFEJHJU JOUFSQSFUFEJOCBTFUFO UP E0;D4

     -FU BC0AC43 CFUSVF

     -FU 6>C=D<14A CFUSVF

    X 1 /,!=B;L;=N?L
    X 1 +))=B;L;=N?L
    X 1 /!)%+(+*=B;L;=N?L
    'PMMPXUIFTFTVCTUFQT

     *G 6>C=D<14A JTGBMTF SFUVSOUIF =D<14AB MJTUBOEBCPSU5IJTIBQQFOTJGBOFOUSZJOUIF


    MJTUIBTOPEJHJUT BTJO  Y 

     *G =460C43 JTUSVF UIFOOFHBUF E0;D4

     "QQFOE E0;D4 UPUIF =D<14AB MJTU

     +VNQUPTUFQJOUIFPWFSBMMTFUPGTUFQT

    X =B;L;=N?LCHNB?L;HA?1 NI1 "


    1 NI1 
    1  NI1 "

    1 
    1 NI1 
    1 NI1 
    1 <NI1 "C ? ;HSINB?LHIH
    ;FJB;<?NC=/%%=B;L;=N?L
    'PMMPXUIFTFTVCTUFQT

     *G 6>C=D<14A JTUSVF MFU P=8B743 CFUSVF

     *G P=8B743 JTUSVF TLJQUPUIFOFYUTUFQJOUIFPWFSBMMTFUPGTUFQT

     -FU =460C43 CFGBMTF

    X HSINB?L=B;L;=N?L
    'PMMPXUIFTFTVCTUFQT

     *G P=8B743 JTUSVF TLJQUPUIFOFYUTUFQJOUIFPWFSBMMTFUPGTUFQT

     -FU =460C43 CFGBMTF

     -FU 1>6DB CFUSVF

     *G BC0AC43 JTUSVF UIFOSFUVSOUIF =D<14AB MJTU BOEBCPSU 5IFWBMVFJO E0;D4 JTOPU


    BQQFOEFEUPUIFMJTUИSTUJUJTESPQQFE

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFSJO 8=?DC PSUPCFZPOEUIFFOEPGUIFTUSJOHJGUIFSFBSFOPNPSF


    DIBSBDUFST

     *G ?>B8C8>= QPJOUTUPBDIBSBDUFS BOEOPUUPCFZPOEUIFFOEPG 8=?DC


    KVNQUPUIFCJH &0AB4A TUFQBCPWF

     *G =460C43 JTUSVF UIFOOFHBUF E0;D4

     *G 6>C=D<14A JTUSVF UIFOBQQFOE E0;D4 UPUIF =D<14AB MJTU

     3FUVSOUIF =D<14AB MJTUBOEBCPSU

        (CMNMI@>CG?HMCIHM

    5IF LOF?M@ILJ;LMCHA;FCMNI@>CG?HMCIHM BSFBTGPMMPXT5IFTFSVMFTSFUVSOBMJTUPG[FSPPSNPSFQBJSTDPOTJTUJOH


    PGBOVNCFSBOEBVOJU UIFVOJUCFJOHPOFPG ?4A24=C064 A4;0C8E4 BOE 01B>;DC4

     -FU A0F8=?DC CFUIFTUSJOHCFJOHQBSTFE

     *GUIFMBTUDIBSBDUFSJO A0F8=?DC JTB6 $$0.."DIBSBDUFS


    UIFOSFNPWFUIBUDIBSBDUFSGSPN A0F
    8=?DC

     4QMJUUIFTUSJOH A0F8=?DC PODPNNBT Q -FU A0FC>:4=B CFUIFSFTVMUJOHMJTUPGUPLFOT

     -FU A4BD;C CFBOFNQUZMJTUPGOVNCFSVOJUQBJST

    
     'PSFBDIUPLFOJO A0FC>:4=B SVOUIFGPMMPXJOHTVCTUFQT

     -FU 8=?DC CFUIFUPLFO

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     -FU E0;D4 CFUIFOVNCFS

     -FU D=8C CF 01B>;DC4

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC TFU D=8C UP A4;0C8E4 BOEKVNQUPUIFMBTUTVCTUFQ

     *GUIFDIBSBDUFSBU ?>B8C8>= JTBDIBSBDUFSJOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5
    /*/& 
    DPMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 
    UP6 
    %*(*5/*/& 
    JOUFSQSFUUIFSFTVMUJOHTFRVFODFBTBOJOUFHFSJOCBTFUFO BOEJODSFNFOU E0;D4 CZ
    UIBUJOUFHFS

     *GUIFDIBSBDUFSBU ?>B8C8>= JTB6 &'6--4501DIBSBDUFS 


    SVOUIFTFTVCTUFQT

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q DPOTJTUJOHPG TQBDFDIBSBDUFST Q BOEDIBSBDUFSTJO


    UIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    -FU B CFUIFSFTVMUJOH
    TFRVFODF

     3FNPWFBMM TQBDFDIBSBDUFST Q JO B

     *G B JTOPUUIFFNQUZTUSJOH SVOUIFTFTVCTVCTUFQT

     -FU ;4=6C7 CFUIFOVNCFSPGDIBSBDUFSTJO B BGUFSUIFTQBDFTXFSFSFNPWFE


    

     -FU 5A02C8>= CFUIFSFTVMUPGJOUFSQSFUJOH B BTBCBTFUFOJOUFHFS BOEUIFO


    EJWJEJOHUIBUOVNCFSCZ ;4=6C7

     *ODSFNFOU E0;D4 CZ 5A02C8>=

     4LJQXIJUFTQBDF Q 

     *GUIFDIBSBDUFSBU ?>B8C8>= JTB6 1&3$&/54*(/DIBSBDUFS 


    UIFOTFU D=8C UP ?4A24=C064

    0UIFSXJTF JGUIFDIBSBDUFSBU ?>B8C8>= JTB6 ""45&3*4,DIBSBDUFS


    UIFOTFU D=8C UP
    A4;0C8E4

     "EEBOFOUSZUP A4BD;C DPOTJTUJOHPGUIFOVNCFSHJWFOCZ E0;D4 BOEUIFVOJUHJWFOCZ D=8C

     3FUVSOUIFMJTU A4BD;C

       ;N?M;H>NCG?M

    *OUIFBMHPSJUINTCFMPX UIF HOG<?LI@>;SMCHGIHNB FHGMA I@S?;L R>:K JT  JG <>=C7 JT      PS
      JG <>=C7 JT   PS  JG <>=C7 JTBOE H40A JTBOVNCFSEJWJTJCMFCZ PSJG H40A JTBOVNCFSEJWJTJCMF
    CZCVUOPUCZBOE  PUIFSXJTF5IJTUBLFTJOUPBDDPVOUMFBQZFBSTJOUIF(SFHPSJBODBMFOEBS <(3&(03*"/> Q

    5IF >CACNM JOUIFEBUFBOEUJNFTZOUBYFTEFИOFEJOUIJTTFDUJPONVTUCFDIBSBDUFSTJOUIFSBOHF6 %*(*5;&30


    
    UP6 %*(*5/*/& 
    VTFEUPFYQSFTTOVNCFSTJOCBTFUFO

    *HM> 3ABE>MA>?HKF:ML=>L<KB;>=A>K>:K>BGM>G=>=MH;>LN;L>MLH?MA><HKK>LIHG=BG@%/+ 
    ?HKF:ML MABLLI><B[<:MBHG=>[G>LI:KLBG@KNE>LBGFN<AFHK>=>M:BEMA:G%/+  %FIE>F>GMHKL
    :K>MA>K>?HK>>G<HNK:@>=MH<:K>?NEER>Q:FBG>:GR=:M>I:KLBG@EB;K:KB>L;>?HK>NLBG@MA>FMH
    BFIE>F>GMMA>I:KLBG@KNE>L=>L<KB;>=;>EHP%/+ EB;K:KB>LFB@AMGHMI:KL>=:M>L:G=MBF>L
    BG>Q:<MERMA>L:F>F:GG>K 7%/+ 8 I

        )IHNBM

    " GIHNB DPOTJTUTPGBTQFDJИDQSPMFQUJD(SFHPSJBOEBUFXJUIOPUJNF[POFJOGPSNBUJPOBOEOPEBUFJOGPSNBUJPOCFZPOE


    BZFBSBOEBNPOUI <(3&(03*"/> Q

    "TUSJOHJTB P;FC>GIHNBMNLCHA SFQSFTFOUJOHBZFBS H40A BOENPOUI <>=C7 JGJUDPOTJTUTPGUIFGPMMPXJOHDPNQPOFOUT


    JOUIFHJWFOPSEFS

     'PVSPSNPSF EJHJUT Q SFQSFTFOUJOH H40A XIFSF H40A  

    
     "6 %):1)&/.*/64DIBSBDUFS 

     5XP EJHJUT Q SFQSFTFOUJOHUIFNPOUI <>=C7 JOUIFSBOHF ˘ <>=C7 ˘ 

    5IFSVMFTUP J;LM?;GIHNBMNLCHA BSFBTGPMMPXT5IJTXJMMSFUVSOFJUIFSBZFBSBOENPOUI PSOPUIJOH*GBUBOZQPJOU


    UIFBMHPSJUINTBZTUIBUJUGBJMT UIJTNFBOTUIBUJUJTBCPSUFEBUUIBUQPJOUBOESFUVSOTOPUIJOH

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     1BSTFBNPOUIDPNQPOFOU Q UPPCUBJO H40A BOE <>=C7*GUIJTSFUVSOTOPUIJOH UIFOGBJM

     *G ?>B8C8>= JT =>C CFZPOEUIFFOEPG 8=?DC UIFOGBJM

     3FUVSO H40A BOE <>=C7

    5IFSVMFTUP J;LM?;GIHNB=IGJIH?HN HJWFOBO 8=?DC TUSJOHBOEB ?>B8C8>= BSFBTGPMMPXT5IJTXJMMSFUVSOFJUIFSB


    ZFBSBOEBNPOUI PSOPUIJOH*GBUBOZQPJOUUIFBMHPSJUINTBZTUIBUJUGBJMT UIJTNFBOTUIBUJUJTBCPSUFEBUUIBU
    QPJOUBOESFUVSOTOPUIJOH

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    *GUIF
    DPMMFDUFETFRVFODFJTOPUBUMFBTUGPVSDIBSBDUFSTMPOH UIFOGBJM0UIFSXJTF JOUFSQSFUUIFSFTVMUJOHTFRVFODF
    BTBCBTFUFOJOUFHFS-FUUIBUOVNCFSCFUIF H40A

     *G H40A JTOPUBOVNCFSHSFBUFSUIBO[FSP UIFOGBJM

     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC PSJGUIFDIBSBDUFSBU ?>B8C8>= JTOPUB6 %):1)&/.*/64


    DIBSBDUFS UIFOGBJM0UIFSXJTF NPWF ?>B8C8>= GPSXBSETPOFDIBSBDUFS

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    *GUIF
    DPMMFDUFETFRVFODFJTOPUFYBDUMZUXPDIBSBDUFSTMPOH UIFOGBJM0UIFSXJTF JOUFSQSFUUIFSFTVMUJOHTFRVFODF
    BTBCBTFUFOJOUFHFS-FUUIBUOVNCFSCFUIF <>=C7

     *G <>=C7 JTOPUBOVNCFSJOUIFSBOHF ˘ <>=C7 ˘  UIFOGBJM

     3FUVSO H40A BOE <>=C7

        ;N?M

    " >;N? DPOTJTUTPGBTQFDJИDQSPMFQUJD(SFHPSJBOEBUFXJUIOPUJNF[POFJOGPSNBUJPO DPOTJTUJOHPGBZFBS BNPOUI


    BOEBEBZ <(3&(03*"/> Q

    "TUSJOHJTB P;FC>>;N?MNLCHA SFQSFTFOUJOHBZFBS H40A NPOUI <>=C7 BOEEBZ 30H JGJUDPOTJTUTPGUIFGPMMPXJOH


    DPNQPOFOUTJOUIFHJWFOPSEFS

     " WBMJENPOUITUSJOH Q SFQSFTFOUJOH H40A BOE <>=C7

     "6 %):1)&/.*/64DIBSBDUFS 

     5XP EJHJUT Q SFQSFTFOUJOH 30H JOUIFSBOHF ˘ 30H ˘ <0G30H XIFSF <0G30H JTUIF OVNCFSPGEBZTJOUIF
    NPOUI <>=C7 BOEZFBS H40A Q

    5IFSVMFTUP J;LM?;>;N?MNLCHA BSFBTGPMMPXT5IJTXJMMSFUVSOFJUIFSBEBUF PSOPUIJOH*GBUBOZQPJOUUIFBMHPSJUIN


    TBZTUIBUJUGBJMT UIJTNFBOTUIBUJUJTBCPSUFEBUUIBUQPJOUBOESFUVSOTOPUIJOH

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     1BSTFBEBUFDPNQPOFOU Q UPPCUBJO H40A <>=C7 BOE 30H*GUIJTSFUVSOTOPUIJOH UIFOGBJM

     *G ?>B8C8>= JT =>C CFZPOEUIFFOEPG 8=?DC UIFOGBJM

     -FU 30C4 CFUIFEBUFXJUIZFBS H40A NPOUI <>=C7 BOEEBZ 30H

     3FUVSO 30C4

    5IFSVMFTUP J;LM?;>;N?=IGJIH?HN HJWFOBO 8=?DC TUSJOHBOEB ?>B8C8>= BSFBTGPMMPXT5IJTXJMMSFUVSOFJUIFSB


    ZFBS BNPOUI BOEBEBZ PSOPUIJOH*GBUBOZQPJOUUIFBMHPSJUINTBZTUIBUJUGBJMT UIJTNFBOTUIBUJUJTBCPSUFEBU
    UIBUQPJOUBOESFUVSOTOPUIJOH

    
     1BSTFBNPOUIDPNQPOFOU Q UPPCUBJO H40A BOE <>=C7*GUIJTSFUVSOTOPUIJOH UIFOGBJM

     -FU <0G30H CFUIF OVNCFSPGEBZTJONPOUI <>=C7 PGZFBS H40A Q 

     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC PSJGUIFDIBSBDUFSBU ?>B8C8>= JTOPUB6 %):1)&/.*/64


    DIBSBDUFS UIFOGBJM0UIFSXJTF NPWF ?>B8C8>= GPSXBSETPOFDIBSBDUFS

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    *GUIF
    DPMMFDUFETFRVFODFJTOPUFYBDUMZUXPDIBSBDUFSTMPOH UIFOGBJM0UIFSXJTF JOUFSQSFUUIFSFTVMUJOHTFRVFODF
    BTBCBTFUFOJOUFHFS-FUUIBUOVNCFSCFUIF 30H

     *G 30H JTOPUBOVNCFSJOUIFSBOHF ˘ 30H ˘ <0G30H UIFOGBJM

     3FUVSO H40A <>=C7 BOE 30H

        0CG?M

    " NCG? DPOTJTUTPGBTQFDJИDUJNFXJUIOPUJNF[POFJOGPSNBUJPO DPOTJTUJOHPGBOIPVS BNJOVUF BTFDPOE BOEB


    GSBDUJPOPGBTFDPOE

    "TUSJOHJTB P;FC>NCG?MNLCHA SFQSFTFOUJOHBOIPVS 7>DA BNJOVUF <8=DC4 BOEBTFDPOE B42>=3 JGJUDPOTJTUTPGUIF


    GPMMPXJOHDPNQPOFOUTJOUIFHJWFOPSEFS

     5XP EJHJUT Q SFQSFTFOUJOH 7>DA JOUIFSBOHF ˘ 7>DA ˘ 

     "6 "$0-0/DIBSBDUFS 

     5XP EJHJUT Q SFQSFTFOUJOH <8=DC4 JOUIFSBOHF ˘ <8=DC4 ˘ 

     0QUJPOBMMZ SFRVJSFEJG B42>=3 JTOPO[FSP


    
     "6 "$0-0/DIBSBDUFS 

     5XP EJHJUT Q SFQSFTFOUJOHUIFJOUFHFSQBSUPG B42>=3 JOUIFSBOHF ˘ B ˘ 


     0QUJPOBMMZ SFRVJSFEJG B42>=3 JTOPUBOJOUFHFS
    
     "&'6--4501DIBSBDUFS 

     0OFPSNPSF EJHJUT Q SFQSFTFOUJOHUIFGSBDUJPOBMQBSUPG B42>=3

    *HM> 0A> L><HG= <HFIHG>GM<:GGHM;> HKE>:IL><HG=L<:GGHM;>K>IK>L>GM>=

    5IFSVMFTUP J;LM?;NCG?MNLCHA BSFBTGPMMPXT5IJTXJMMSFUVSOFJUIFSBUJNF PSOPUIJOH*GBUBOZQPJOUUIFBMHPSJUIN


    TBZTUIBUJUGBJMT UIJTNFBOTUIBUJUJTBCPSUFEBUUIBUQPJOUBOESFUVSOTOPUIJOH

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     1BSTFBUJNFDPNQPOFOU Q UPPCUBJO 7>DA <8=DC4 BOE B42>=3*GUIJTSFUVSOTOPUIJOH UIFOGBJM

     *G ?>B8C8>= JT =>C CFZPOEUIFFOEPG 8=?DC UIFOGBJM

     -FU C8<4 CFUIFUJNFXJUIIPVS 7>DA NJOVUF <8=DC4 BOETFDPOE B42>=3

     3FUVSO C8<4

    5IFSVMFTUP J;LM?;NCG?=IGJIH?HN HJWFOBO 8=?DC TUSJOHBOEB ?>B8C8>= BSFBTGPMMPXT5IJTXJMMSFUVSOFJUIFSBO


    IPVS BNJOVUF BOEBTFDPOE PSOPUIJOH*GBUBOZQPJOUUIFBMHPSJUINTBZTUIBUJUGBJMT UIJTNFBOTUIBUJUJTBCPSUFE
    BUUIBUQPJOUBOESFUVSOTOPUIJOH

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    *GUIF
    DPMMFDUFETFRVFODFJTOPUFYBDUMZUXPDIBSBDUFSTMPOH UIFOGBJM0UIFSXJTF JOUFSQSFUUIFSFTVMUJOHTFRVFODF
    BTBCBTFUFOJOUFHFS-FUUIBUOVNCFSCFUIF 7>DA

     *G 7>DA JTOPUBOVNCFSJOUIFSBOHF ˘ 7>DA ˘  UIFOGBJM

     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC PSJGUIFDIBSBDUFSBU ?>B8C8>= JTOPUB6 "$0-0/DIBSBDUFS UIFO


    GBJM0UIFSXJTF NPWF ?>B8C8>= GPSXBSETPOFDIBSBDUFS

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    *GUIF
    DPMMFDUFETFRVFODFJTOPUFYBDUMZUXPDIBSBDUFSTMPOH UIFOGBJM0UIFSXJTF JOUFSQSFUUIFSFTVMUJOHTFRVFODF
    BTBCBTFUFOJOUFHFS-FUUIBUOVNCFSCFUIF <8=DC4

    
     *G <8=DC4 JTOPUBOVNCFSJOUIFSBOHF ˘ <8=DC4 ˘  UIFOGBJM

     -FU B42>=3 CFBTUSJOHXJUIUIFWBMVF

     *G ?>B8C8>= JTOPUCFZPOEUIFFOEPG 8=?DC BOEUIFDIBSBDUFSBU ?>B8C8>= JTB6 "$0-0/ UIFOSVOUIFTF


    TVCTUFQT

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFSJO 8=?DC

     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC PSBUUIFMBTUDIBSBDUFSJO 8=?DC PSJGUIFOFYU CF> DIBSBDUFST


    JO 8=?DC TUBSUJOHBU ?>B8C8>= BSFOPUUXPDIBSBDUFSTCPUIJOUIFSBOHF6 %*(*5;&30 
    UP
    6 %*(*5/*/& 
    UIFOGBJM

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q UIBUBSFFJUIFSDIBSBDUFSTJOUIFSBOHF6 %*(*5;&30 

    UP6 %*(*5/*/& 
    PS6 &'6--4501DIBSBDUFST*GUIFDPMMFDUFETFRVFODFIBTNPSF
    UIBOPOF6 &'6--4501DIBSBDUFST PSJGUIFMBTUDIBSBDUFSJOUIFTFRVFODFJTB6 &'6--
    4501DIBSBDUFS UIFOGBJM0UIFSXJTF MFUUIFDPMMFDUFETUSJOHCF B42>=3 JOTUFBEPGJUTQSFWJPVT
    WBMVF

     *OUFSQSFU B42>=3 BTBCBTFUFOOVNCFS QPTTJCMZXJUIBGSBDUJPOBMQBSU


    -FU B42>=3 CFUIBUOVNCFSJOTUFBE
    PGUIFTUSJOHWFSTJPO

     *G B42>=3 JTOPUBOVNCFSJOUIFSBOHF ˘ B42>=3   UIFOGBJM

     3FUVSO 7>DA <8=DC4 BOE B42>=3

        (I=;F>;N?M;H>NCG?M

    " FI=;F>;N?;H>NCG? DPOTJTUTPGBTQFDJИDQSPMFQUJD(SFHPSJBOEBUF DPOTJTUJOHPGBZFBS BNPOUI BOEBEBZ BOEB


    UJNF DPOTJTUJOHPGBOIPVS BNJOVUF BTFDPOE BOEBGSBDUJPOPGBTFDPOE CVUFYQSFTTFEXJUIPVUBUJNF[POF
    <(3&(03*"/> Q

    "TUSJOHJTB P;FC>FI=;F>;N?;H>NCG?MNLCHA SFQSFTFOUJOHBEBUFBOEUJNFJGJUDPOTJTUTPGUIFGPMMPXJOHDPNQPOFOUT


    JOUIFHJWFOPSEFS

     " WBMJEEBUFTUSJOH Q SFQSFTFOUJOHUIFEBUF

     "6 -"5*/$"1*5"--&55&35DIBSBDUFS 5
    

     " WBMJEUJNFTUSJOH Q SFQSFTFOUJOHUIFUJNF

    5IFSVMFTUP J;LM?;FI=;F>;N?;H>NCG?MNLCHA BSFBTGPMMPXT5IJTXJMMSFUVSOFJUIFSBEBUFBOEUJNF PSOPUIJOH*G


    BUBOZQPJOUUIFBMHPSJUINTBZTUIBUJUGBJMT UIJTNFBOTUIBUJUJTBCPSUFEBUUIBUQPJOUBOESFUVSOTOPUIJOH

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     1BSTFBEBUFDPNQPOFOU Q UPPCUBJO H40A <>=C7 BOE 30H*GUIJTSFUVSOTOPUIJOH UIFOGBJM

     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC PSJGUIFDIBSBDUFSBU ?>B8C8>= JTOPUB6 -"5*/$"1*5"--&55&35


    DIBSBDUFS 5
    UIFOGBJM0UIFSXJTF NPWF ?>B8C8>= GPSXBSETPOFDIBSBDUFS

     1BSTFBUJNFDPNQPOFOU Q UPPCUBJO 7>DA <8=DC4 BOE B42>=3*GUIJTSFUVSOTOPUIJOH UIFOGBJM

     *G ?>B8C8>= JT =>C CFZPOEUIFFOEPG 8=?DC UIFOGBJM

     -FU 30C4 CFUIFEBUFXJUIZFBS H40A NPOUI <>=C7 BOEEBZ 30H

     -FU C8<4 CFUIFUJNFXJUIIPVS 7>DA NJOVUF <8=DC4 BOETFDPOE B42>=3

     3FUVSO 30C4 BOE C8<4

        #FI<;F>;N?M;H>NCG?M

    " AFI<;F>;N?;H>NCG? DPOTJTUTPGBTQFDJИDQSPMFQUJD(SFHPSJBOEBUF DPOTJTUJOHPGBZFBS BNPOUI BOEBEBZ BOE


    BUJNF DPOTJTUJOHPGBOIPVS BNJOVUF BTFDPOE BOEBGSBDUJPOPGBTFDPOE FYQSFTTFEXJUIBUJNF[POFPЗTFU
    DPOTJTUJOHPGBTJHOFEOVNCFSPGIPVSTBOENJOVUFT <(3&(03*"/> Q

    
    "TUSJOHJTB P;FC>AFI<;F>;N?;H>NCG?MNLCHA SFQSFTFOUJOHBEBUF UJNF BOEBUJNF[POFPЗTFUJGJUDPOTJTUTPGUIF
    GPMMPXJOHDPNQPOFOUTJOUIFHJWFOPSEFS

     " WBMJEEBUFTUSJOH Q SFQSFTFOUJOHUIFEBUF

     "6 -"5*/$"1*5"--&55&35DIBSBDUFS 5

     " WBMJEUJNFTUSJOH Q SFQSFTFOUJOHUIFUJNF

     &JUIFS
    Ǭ "6 "-"5*/$"1*5"--&55&3;DIBSBDUFS ;
    BMMPXFEPOMZJGUIFUJNF[POFJT65$
    Ǭ 0S
     &JUIFSB6 #1-644*(/DIBSBDUFS
    PSB6 %):1)&/.*/64DIBSBDUFS 

    SFQSFTFOUJOHUIFTJHOPGUIFUJNF[POFPЗTFU
     5XP EJHJUT Q SFQSFTFOUJOHUIFIPVSTDPNQPOFOU 7>DA PGUIFUJNF[POFPЗTFU JOUIF
    SBOHF ˘ 7>DA ˘ 
     "6 "$0-0/DIBSBDUFS 

     5XP EJHJUT Q SFQSFTFOUJOHUIFNJOVUFTDPNQPOFOU <8=DC4 PGUIFUJNF[POFPЗTFU JOUIF


    SBOHF ˘ <8=DC4 ˘ 

    *HM> 0ABL?HKF:M:EEHPL?HKMBF>
    SHG>HZL>ML?KHF
    MH %GIK:<MB<> AHP>O>K MA>
    K:G@>H?HZL>MLH?:<MN:EMBF>SHG>LBL
     MH :G=MA>FBGNM>L<HFIHG>GMH?HZL>MLH?
    :<MN:EMBF>SHG>LBL:EP:RL>BMA>K  HK

    5IFGPMMPXJOHBSFTPNFFYBNQMFTPGEBUFTXSJUUFOBT WBMJEHMPCBMEBUFBOEUJNFTUSJOHT Q 

      28
    .JEOJHIU65$POUIFCJSUIEBZPG/FSP UIF3PNBO&NQFSPS
    4FFCFMPXGPSGVSUIFSEJTDVTTJPOPOXIJDIEBUF
    UIJTBDUVBMMZDPSSFTQPOETUP

      2  


    0OFNJMMJTFDPOEBGUFSOPPOPO0DUPCFSUI JOUIFUJNF[POFJOVTFPOUIFFBTUDPBTUPGUIF64"
    EVSJOHEBZMJHIUTBWJOHUJNF

      2
    
    .JEOJHIU65$POUIFTUPG+BOVBSZ 5IFUJNF[POFBTTPDJBUFEXJUIUIBUUJNFJTUXPIPVSTBOEOJOF
    NJOVUFTBIFBEPG65$ XIJDIJTOPUDVSSFOUMZBSFBMUJNF[POF CVUJTOPOFUIFMFTTBMMPXFE

    4FWFSBMUIJOHTBSFOPUBCMFBCPVUUIFTFEBUFT

    Ǭ :FBSTXJUIGFXFSUIBOGPVSEJHJUTIBWFUPCF[FSPQBEEFE5IFEBUFXPVMEOPUCFBWBMJE
    EBUF

    Ǭ 5PVOBNCJHVPVTMZJEFOUJGZBNPNFOUJOUJNFQSJPSUPUIFJOUSPEVDUJPOPGUIF(SFHPSJBODBMFOEBS UIF
    EBUFIBTUPCFИSTUDPOWFSUFEUPUIF(SFHPSJBODBMFOEBSGSPNUIFDBMFOEBSJOVTFBUUIFUJNF FH
    GSPNUIF+VMJBODBMFOEBS
    5IFEBUFPG/FSPTCJSUIJTUIFUIPG%FDFNCFS JOUIF+VMJBO$BMFOEBS
    XIJDIJTUIFUIPG%FDFNCFSJOUIFQSPMFQUJD(SFHPSJBO$BMFOEBS

    Ǭ 5IFUJNFBOEUJNF[POFPЗTFUDPNQPOFOUTBSFOPUPQUJPOBM

    Ǭ %BUFTCFGPSFUIFZFBSPOFDBOUCFSFQSFTFOUFEBTBEBUFUJNFJOUIJTWFSTJPOPG)5.-

    Ǭ 5JNF[POFPЗTFUTEJЗFSCBTFEPOEBZMJHIUTBWJOHTUJNF

    5IF <?MNL?JL?M?HN;NCIHI@NB?AFI<;F>;N?;H>NCG?MNLCHA 30C4C8<4 JTUIF WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q


    SFQSFTFOUJOH 30C4C8<4 XJUIUIFMBTUDIBSBDUFSPGUIFTUSJOHOPUCFJOHB6 "-"5*/$"1*5"--&55&3;DIBSBDUFS ;

    FWFOJGUIFUJNF[POFJT65$ BOEXJUIB6 %):1)&/.*/64DIBSBDUFS 
    SFQSFTFOUJOHUIFTJHOPGUIFUJNF[POF
    PЗTFUXIFOUIFUJNF[POFJT65$

    5IFSVMFTUP J;LM?;AFI<;F>;N?;H>NCG?MNLCHA BSFBTGPMMPXT5IJTXJMMSFUVSOFJUIFSBUJNFJO65$ XJUI


    BTTPDJBUFEUJNF[POFPЗTFUJOGPSNBUJPOGPSSPVOEUSJQQJOHPSEJTQMBZQVSQPTFT PSOPUIJOH*GBUBOZQPJOUUIFBMHPSJUIN
    TBZTUIBUJUGBJMT UIJTNFBOTUIBUJUJTBCPSUFEBUUIBUQPJOUBOESFUVSOTOPUIJOH

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     1BSTFBEBUFDPNQPOFOU Q UPPCUBJO H40A <>=C7 BOE 30H*GUIJTSFUVSOTOPUIJOH UIFOGBJM

    
     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC PSJGUIFDIBSBDUFSBU ?>B8C8>= JTOPUB6 -"5*/$"1*5"--&55&35
    DIBSBDUFS 5
    UIFOGBJM0UIFSXJTF NPWF ?>B8C8>= GPSXBSETPOFDIBSBDUFS

     1BSTFBUJNFDPNQPOFOU Q UPPCUBJO 7>DA <8=DC4 BOE B42>=3*GUIJTSFUVSOTOPUIJOH UIFOGBJM

     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC UIFOGBJM

     1BSTFBUJNF[POFPЗTFUDPNQPOFOU Q UPPCUBJO C8<4I>=47>DAB BOE C8<4I>=4<8=DC4B*GUIJTSFUVSOTOPUIJOH


    UIFOGBJM

     *G ?>B8C8>= JT =>C CFZPOEUIFFOEPG 8=?DC UIFOGBJM

     -FU C8<4 CFUIFNPNFOUJOUJNFBUZFBS H40A NPOUI <>=C7 EBZ 30H IPVST 7>DA NJOVUF <8=DC4 TFDPOE
    B42>=3 TVCUSBDUJOH C8<4I>=47>DAB IPVSTBOE C8<4I>=4<8=DC4B NJOVUFT5IBUNPNFOUJOUJNFJTBNPNFOUJO
    UIF65$UJNF[POF

     -FU C8<4I>=4 CF C8<4I>=47>DAB IPVSTBOE C8<4I>=4<8=DC4B NJOVUFTGSPN65$

     3FUVSO C8<4 BOE C8<4I>=4

    5IFSVMFTUP J;LM?;NCG? TIH?I\M?N=IGJIH?HN HJWFOBO 8=?DC TUSJOHBOEB ?>B8C8>= BSFBTGPMMPXT5IJTXJMM


    SFUVSOFJUIFSUJNF[POFIPVSTBOEUJNF[POFNJOVUFT PSOPUIJOH*GBUBOZQPJOUUIFBMHPSJUINTBZTUIBUJUGBJMT UIJT
    NFBOTUIBUJUJTBCPSUFEBUUIBUQPJOUBOESFUVSOTOPUIJOH

     *GUIFDIBSBDUFSBU ?>B8C8>= JTB6 "-"5*/$"1*5"--&55&3;DIBSBDUFS ;


    UIFO

     -FU C8<4I>=47>DAB CF

     -FU C8<4I>=4<8=DC4B CF

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFSJO 8=?DC

    0UIFSXJTF JGUIFDIBSBDUFSBU ?>B8C8>= JTFJUIFSB6 #1-644*(/


    PSB6 %):1)&/.*/64 

    UIFO

     *GUIFDIBSBDUFSBU ?>B8C8>= JTB6 #1-644*(/


    MFU B86= CFQPTJUJWF0UIFSXJTF JUTB
    6 %):1)&/.*/64 
    MFU B86= CFOFHBUJWF

     "EWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFSJO 8=?DC

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/&
    
    *GUIFDPMMFDUFETFRVFODFJTOPUFYBDUMZUXPDIBSBDUFSTMPOH UIFOGBJM0UIFSXJTF JOUFSQSFUUIF
    SFTVMUJOHTFRVFODFBTBCBTFUFOJOUFHFS-FUUIBUOVNCFSCFUIF C8<4I>=47>DAB

     *G C8<4I>=47>DAB JTOPUBOVNCFSJOUIFSBOHF ˘ C8<4I>=47>DAB ˘  UIFOGBJM

     *G B86= JTOFHBUJWF UIFOOFHBUF C8<4I>=47>DAB

     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC PSJGUIFDIBSBDUFSBU ?>B8C8>= JTOPUB6 "$0-0/


    DIBSBDUFS UIFOGBJM0UIFSXJTF NPWF ?>B8C8>= GPSXBSETPOFDIBSBDUFS

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/&
    
    *GUIFDPMMFDUFETFRVFODFJTOPUFYBDUMZUXPDIBSBDUFSTMPOH UIFOGBJM0UIFSXJTF JOUFSQSFUUIF
    SFTVMUJOHTFRVFODFBTBCBTFUFOJOUFHFS-FUUIBUOVNCFSCFUIF C8<4I>=4<8=DC4B

     *G C8<4I>=4<8=DC4B JTOPUBOVNCFSJOUIFSBOHF ˘ C8<4I>=4<8=DC4B ˘  UIFOGBJM

     *G B86= JTOFHBUJWF UIFOOFHBUF C8<4I>=4<8=DC4B

    0UIFSXJTF GBJM

     3FUVSO C8<4I>=47>DAB BOE C8<4I>=4<8=DC4B

        3??EM

    " Q??E DPOTJTUTPGBXFFLZFBSOVNCFSBOEBXFFLOVNCFSSFQSFTFOUJOHBTFWFOEBZQFSJPETUBSUJOHPOB.POEBZ


    &BDIXFFLZFBSJOUIJTDBMFOEBSJOHTZTUFNIBTFJUIFSPSTVDITFWFOEBZQFSJPET BTEFИOFECFMPX5IFTFWFO
    EBZQFSJPETUBSUJOHPOUIF(SFHPSJBOEBUF.POEBZ%FDFNCFSUI 
    JTEFИOFEBTXFFLOVNCFSJO
    XFFLZFBS$POTFDVUJWFXFFLTBSFOVNCFSFETFRVFOUJBMMZ5IFXFFLCFGPSFUIFOVNCFSXFFLJOBXFFLZFBS
    JTUIFMBTUXFFLJOUIFQSFWJPVTXFFLZFBS BOEWJDFWFSTB <(3&(03*"/> Q

    
    "XFFLZFBSXJUIBOVNCFS H40A IBTXFFLTJGJUDPSSFTQPOETUPFJUIFSBZFBS H40A JOUIFQSPMFQUJD(SFHPSJBO
    DBMFOEBSUIBUIBTB5IVSTEBZBTJUTИSTUEBZ +BOVBSZTU
    PSBZFBS H40A JOUIFQSPMFQUJD(SFHPSJBODBMFOEBSUIBUIBTB
    8FEOFTEBZBTJUTИSTUEBZ +BOVBSZTU
    BOEXIFSF H40A JTBOVNCFSEJWJTJCMFCZ PSBOVNCFSEJWJTJCMFCZCVU
    OPUCZ"MMPUIFSXFFLZFBSTIBWFXFFLT

    5IF Q??EHOG<?LI@NB?F;MN>;S PGBXFFLZFBSXJUIXFFLTJTUIFXFFLOVNCFSPGUIFMBTUEBZPGBXFFL


    ZFBSXJUIXFFLTJT

    *HM> 0A>P>>D
    R>:KGNF;>KH?:I:KMB<NE:K=:R<:G;>=BZ>K>GMMA:GMA>GNF;>KH?MA>R>:KMA:M
    <HGM:BGLMA:M=:RBGMA>IKHE>IMB<#K>@HKB:G<:E>G=:K 0A>[KLMP>>DBG:P>>D
    R>:K R BLMA>P>>D
    MA:M<HGM:BGLMA>[KLM0ANKL=:RH?MA>#K>@HKB:GR>:K R

    "TUSJOHJTB P;FC>Q??EMNLCHA SFQSFTFOUJOHBXFFLZFBS H40A BOEXFFL F44: JGJUDPOTJTUTPGUIFGPMMPXJOH


    DPNQPOFOUTJOUIFHJWFOPSEFS

     'PVSPSNPSF EJHJUT Q SFQSFTFOUJOH H40A XIFSF H40A  

     "6 %):1)&/.*/64DIBSBDUFS 

     "6 -"5*/$"1*5"--&55&38DIBSBDUFS 8

     5XP EJHJUT Q SFQSFTFOUJOHUIFXFFL F44: JOUIFSBOHF ˘ F44: ˘ <0GF44: XIFSF <0GF44: JTUIF XFFL
    OVNCFSPGUIFMBTUEBZ Q PGXFFLZFBS H40A

    5IFSVMFTUP J;LM?;Q??EMNLCHA BSFBTGPMMPXT5IJTXJMMSFUVSOFJUIFSBXFFLZFBSOVNCFSBOEXFFLOVNCFS PS


    OPUIJOH*GBUBOZQPJOUUIFBMHPSJUINTBZTUIBUJUGBJMT UIJTNFBOTUIBUJUJTBCPSUFEBUUIBUQPJOUBOESFUVSOTOPUIJOH

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    *GUIF
    DPMMFDUFETFRVFODFJTOPUBUMFBTUGPVSDIBSBDUFSTMPOH UIFOGBJM0UIFSXJTF JOUFSQSFUUIFSFTVMUJOHTFRVFODF
    BTBCBTFUFOJOUFHFS-FUUIBUOVNCFSCFUIF H40A

     *G H40A JTOPUBOVNCFSHSFBUFSUIBO[FSP UIFOGBJM

     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC PSJGUIFDIBSBDUFSBU ?>B8C8>= JTOPUB6 %):1)&/.*/64


    DIBSBDUFS UIFOGBJM0UIFSXJTF NPWF ?>B8C8>= GPSXBSETPOFDIBSBDUFS

     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC PSJGUIFDIBSBDUFSBU ?>B8C8>= JTOPUB6 -"5*/$"1*5"--&55&38


    DIBSBDUFS 8
    UIFOGBJM0UIFSXJTF NPWF ?>B8C8>= GPSXBSETPOFDIBSBDUFS

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    *GUIF
    DPMMFDUFETFRVFODFJTOPUFYBDUMZUXPDIBSBDUFSTMPOH UIFOGBJM0UIFSXJTF JOUFSQSFUUIFSFTVMUJOHTFRVFODF
    BTBCBTFUFOJOUFHFS-FUUIBUOVNCFSCFUIF F44:

     -FU <0GF44: CFUIF XFFLOVNCFSPGUIFMBTUEBZ Q PGZFBS H40A

     *G F44: JTOPUBOVNCFSJOUIFSBOHF ˘ F44: ˘ <0GF44: UIFOGBJM

     *G ?>B8C8>= JT =>C CFZPOEUIFFOEPG 8=?DC UIFOGBJM

     3FUVSOUIFXFFLZFBSOVNCFS H40A BOEUIFXFFLOVNCFS F44:

        2;AO?LGIG?HNMCHNCG?

    "TUSJOHJTB P;FC>>;N?ILNCG?MNLCHA JGJUJTBMTPPOFPGUIFGPMMPXJOH

    Ǭ " WBMJEEBUFTUSJOH Q 

    Ǭ " WBMJEUJNFTUSJOH Q 

    Ǭ " WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    "TUSJOHJTB P;FC>>;N?ILNCG?MNLCHACH=IHN?HN JGJUDPOTJTUTPG[FSPPSNPSF 8IJUF@4QBDF Q DIBSBDUFST GPMMPXFE


    CZB WBMJEEBUFPSUJNFTUSJOH Q GPMMPXFECZ[FSPPSNPSFGVSUIFS 8IJUF@4QBDF Q DIBSBDUFST

    "TUSJOHJTB P;FC>>;N?MNLCHAQCNBIJNCIH;FNCG? JGJUJTBMTPPOFPGUIFGPMMPXJOH

    
    Ǭ " WBMJEEBUFTUSJOH Q 

    Ǭ " WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    "TUSJOHJTB P;FC>>;N?MNLCHACH=IHN?HNQCNBIJNCIH;FNCG? JGJUDPOTJTUTPG[FSPPSNPSF 8IJUF@4QBDF Q


    DIBSBDUFST GPMMPXFECZB WBMJEEBUFTUSJOHXJUIPQUJPOBMUJNF Q GPMMPXFECZ[FSPPSNPSFGVSUIFS 8IJUF@4QBDF Q
    DIBSBDUFST

    5IFSVMFTUP J;LM?;>;N?ILNCG?MNLCHA BSFBTGPMMPXT5IFBMHPSJUINJTJOWPLFEXJUIBЙBHJOEJDBUJOHJGUIF 8=


    0CCA81DC4 WBSJBOUPSUIF 8=2>=C4=C WBSJBOUJTUPCFVTFE5IFBMHPSJUINXJMMSFUVSOFJUIFSB EBUF Q B UJNF Q B HMPCBM
    EBUFBOEUJNF Q PSOPUIJOH*GBUBOZQPJOUUIFBMHPSJUINTBZTUIBUJUGBJMT UIJTNFBOTUIBUJUJTBCPSUFEBUUIBUQPJOU
    BOESFUVSOTOPUIJOH

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     'PSUIF 8=2>=C4=C WBSJBOU TLJQ8IJUF@4QBDFDIBSBDUFST Q 

     4FU BC0AC?>B8C8>= UPUIFTBNFQPTJUJPOBT ?>B8C8>=

     4FUUIF 30C4?A4B4=C BOE C8<4?A4B4=C ЙBHTUPUSVF

     1BSTFBEBUFDPNQPOFOU Q UPPCUBJO H40A <>=C7 BOE 30H*GUIJTGBJMT UIFOTFUUIF 30C4?A4B4=C ЙBHUP
    GBMTF

     *G 30C4?A4B4=C JTUSVF BOE ?>B8C8>= JTOPUCFZPOEUIFFOEPG 8=?DC BOEUIFDIBSBDUFSBU ?>B8C8>= JTB6 
    -"5*/$"1*5"--&55&35DIBSBDUFS 5
    UIFOBEWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFSJO 8=?DC

    0UIFSXJTF JG 30C4?A4B4=C JTUSVF BOEFJUIFS ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC PSUIFDIBSBDUFSBU ?>B8C8>=
    JTOPUB6 -"5*/$"1*5"--&55&35DIBSBDUFS 5
    UIFOTFU C8<4?A4B4=C UPGBMTF

    0UIFSXJTF JG 30C4?A4B4=C JTGBMTF TFU ?>B8C8>= CBDLUPUIFTBNFQPTJUJPOBT BC0AC?>B8C8>=

     *GUIF C8<4?A4B4=C ЙBHJTUSVF UIFO QBSTFBUJNFDPNQPOFOU Q UPPCUBJO 7>DA <8=DC4 BOE B42>=3*GUIJT
    SFUVSOTOPUIJOH UIFOGBJM

     *GUIF 30C4?A4B4=C BOE C8<4?A4B4=C ЙBHTBSFCPUIUSVF CVU ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC UIFOGBJM

     *GUIF 30C4?A4B4=C BOE C8<4?A4B4=C ЙBHTBSFCPUIUSVF QBSTFBUJNF[POFPЗTFUDPNQPOFOU Q UPPCUBJO


    C8<4I>=47>DAB BOE C8<4I>=4<8=DC4B*GUIJTSFUVSOTOPUIJOH UIFOGBJM

     'PSUIF 8=2>=C4=C WBSJBOU TLJQ8IJUF@4QBDFDIBSBDUFST Q 

     *G ?>B8C8>= JT =>C CFZPOEUIFFOEPG 8=?DC UIFOGBJM

     *GUIF 30C4?A4B4=C ЙBHJTUSVFBOEUIF C8<4?A4B4=C ЙBHJTGBMTF UIFOMFU 30C4 CFUIFEBUFXJUIZFBS H40A
    NPOUI <>=C7 BOEEBZ 30H BOESFUVSO 30C4

    0UIFSXJTF JGUIF C8<4?A4B4=C ЙBHJTUSVFBOEUIF 30C4?A4B4=C ЙBHJTGBMTF UIFOMFU C8<4 CFUIFUJNFXJUI


    IPVS 7>DA NJOVUF <8=DC4 BOETFDPOE B42>=3 BOESFUVSO C8<4

    0UIFSXJTF MFU C8<4 CFUIFNPNFOUJOUJNFBUZFBS H40A NPOUI <>=C7 EBZ 30H IPVST 7>DA NJOVUF <8=DC4
    TFDPOE B42>=3 TVCUSBDUJOH C8<4I>=47>DAB IPVSTBOE C8<4I>=4<8=DC4B NJOVUFT UIBUNPNFOUJOUJNFCFJOHB
    NPNFOUJOUIF65$UJNF[POFMFU C8<4I>=4 CF C8<4I>=47>DAB IPVSTBOE C8<4I>=4<8=DC4B NJOVUFTGSPN65$
    BOESFUVSO C8<4 BOE C8<4I>=4

       IFILM

    " MCGJF?=IFIL DPOTJTUTPGUISFFCJUOVNCFSTJOUIFSBOHF SFQSFTFOUJOHUIFSFE HSFFO BOECMVFDPNQPOFOUT


    PGUIFDPMPSSFTQFDUJWFMZ JOUIFT3(#DPMPSTQBDF <43(#> Q

    "TUSJOHJTB P;FC>MCGJF?=IFIL JGJUJTFYBDUMZTFWFODIBSBDUFSTMPOH BOEUIFИSTUDIBSBDUFSJTB6 /6.#&3


    4*(/DIBSBDUFS 
    BOEUIFSFNBJOJOHTJYDIBSBDUFSTBSFBMMJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5
    /*/& 
    6 -"5*/$"1*5"--&55&3"UP6 -"5*/$"1*5"--&55&3' 6 -"5*/4."---&55&3"UP
    6 -"5*/4."---&55&3' XJUIUIFИSTUUXPEJHJUTSFQSFTFOUJOHUIFSFEDPNQPOFOU UIFNJEEMFUXPEJHJUT
    SFQSFTFOUJOHUIFHSFFODPNQPOFOU BOEUIFMBTUUXPEJHJUTSFQSFTFOUJOHUIFCMVFDPNQPOFOU JOIFYBEFDJNBM

    
    "TUSJOHJTB P;FC>FIQ?L=;M?MCGJF?=IFIL JGJUJTB WBMJETJNQMFDPMPS Q BOEEPFTOUVTFBOZDIBSBDUFSTJOUIFSBOHF
    6 -"5*/$"1*5"--&55&3"UP6 -"5*/$"1*5"--&55&3'

    5IF LOF?M@ILJ;LMCHAMCGJF?=IFILP;FO?M BSFBTHJWFOJOUIFGPMMPXJOHBMHPSJUIN8IFOJOWPLFE UIFTUFQTNVTUCF


    GPMMPXFEJOUIFPSEFSHJWFO BCPSUJOHBUUIFИSTUTUFQUIBUSFUVSOTBWBMVF5IJTBMHPSJUINXJMMSFUVSOFJUIFSB TJNQMF
    DPMPS Q PSBOFSSPS

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     *G 8=?DC JTOPUFYBDUMZTFWFODIBSBDUFSTMPOH UIFOSFUVSOBOFSSPS

     *GUIFИSTUDIBSBDUFSJO 8=?DC JTOPUB6 /6.#&34*(/DIBSBDUFS 


    UIFOSFUVSOBOFSSPS

     *GUIFMBTUTJYDIBSBDUFSTPG 8=?DC BSFOPUBMMJOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 

    6 -"5*/$"1*5"--&55&3"UP6 -"5*/$"1*5"--&55&3' 6 -"5*/4."---&55&3"UP
    6 -"5*/4."---&55&3' UIFOSFUVSOBOFSSPS

     -FU A4BD;C CFB TJNQMFDPMPS Q 

     *OUFSQSFUUIFTFDPOEBOEUIJSEDIBSBDUFSTBTBIFYBEFDJNBMOVNCFSBOEMFUUIFSFTVMUCFUIFSFEDPNQPOFOU
    PG A4BD;C

     *OUFSQSFUUIFGPVSUIBOEИGUIDIBSBDUFSTBTBIFYBEFDJNBMOVNCFSBOEMFUUIFSFTVMUCFUIFHSFFODPNQPOFOU
    PG A4BD;C

     *OUFSQSFUUIFTJYUIBOETFWFOUIDIBSBDUFSTBTBIFYBEFDJNBMOVNCFSBOEMFUUIFSFTVMUCFUIFCMVF
    DPNQPOFOUPG A4BD;C

     3FUVSO A4BD;C

    5IF LOF?M@ILM?LC;FCTCHAMCGJF?=IFILP;FO?M HJWFOB TJNQMFDPMPS Q BSFBTHJWFOJOUIFGPMMPXJOHBMHPSJUIN

     -FU A4BD;C CFBTUSJOHDPOTJTUJOHPGBTJOHMF6 /6.#&34*(/DIBSBDUFS 


    

     $POWFSUUIFSFE HSFFO BOECMVFDPNQPOFOUTJOUVSOUPUXPEJHJUIFYBEFDJNBMOVNCFSTVTJOHUIFEJHJUT


    6 %*(*5;&30 
    UP6 %*(*5/*/& 
    BOE6 -"5*/4."---&55&3"UP6 -"5*/
    4."---&55&3' [FSPQBEEJOHJGOFDFTTBSZ BOEBQQFOEUIFTFOVNCFSTUP A4BD;C JOUIFPSEFSSFE HSFFO
    CMVF

     3FUVSO A4BD;C XIJDIXJMMCFB WBMJEMPXFSDBTFTJNQMFDPMPS Q 

    4PNFPCTPMFUFMFHBDZBUUSJCVUFTQBSTFDPMPSTJOBNPSFDPNQMJDBUFENBOOFS VTJOHUIF LOF?M@ILJ;LMCHA;F?A;=S


    =IFILP;FO? XIJDIBSFHJWFOJOUIFGPMMPXJOHBMHPSJUIN8IFOJOWPLFE UIFTUFQTNVTUCFGPMMPXFEJOUIFPSEFSHJWFO
    BCPSUJOHBUUIFИSTUTUFQUIBUSFUVSOTBWBMVF5IJTBMHPSJUINXJMMSFUVSOFJUIFSB TJNQMFDPMPS Q PSBOFSSPS

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     *G 8=?DC JTUIFFNQUZTUSJOH UIFOSFUVSOBOFSSPS

     *G 8=?DC JTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHUSBOTQBSFOU UIFOSFUVSOBOFSSPS

     *G 8=?DC JTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSPOFPGUIFLFZXPSETMJTUFEJOUIF 47(DPMPSLFZXPSET PS


    $444ZTUFN$PMPST TFDUJPOTPGUIF$44$PMPSTQFDJИDBUJPO UIFOSFUVSOUIF TJNQMFDPMPS Q DPSSFTQPOEJOH
    UPUIBULFZXPSE <$44$0-03> Q

     *G 8=?DC JTGPVSDIBSBDUFSTMPOH BOEUIFИSTUDIBSBDUFSJO 8=?DC JTB6 /6.#&34*(/DIBSBDUFS 


    BOE
    UIFMBTUUISFFDIBSBDUFSTPG 8=?DC BSFBMMJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 

    6 -"5*/$"1*5"--&55&3"UP6 -"5*/$"1*5"--&55&3' BOE6 -"5*/4."---&55&3"
    UP6 -"5*/4."---&55&3' UIFOSVOUIFTFTVCTUFQT

     -FU A4BD;C CFB TJNQMFDPMPS Q 

     *OUFSQSFUUIFTFDPOEDIBSBDUFSPG 8=?DC BTBIFYBEFDJNBMEJHJUMFUUIFSFEDPNQPOFOUPG A4BD;C CF


    UIFSFTVMUJOHOVNCFSNVMUJQMJFECZ

     *OUFSQSFUUIFUIJSEDIBSBDUFSPG 8=?DC BTBIFYBEFDJNBMEJHJUMFUUIFHSFFODPNQPOFOUPG A4BD;C CF


    UIFSFTVMUJOHOVNCFSNVMUJQMJFECZ

     *OUFSQSFUUIFGPVSUIDIBSBDUFSPG 8=?DC BTBIFYBEFDJNBMEJHJUMFUUIFCMVFDPNQPOFOUPG A4BD;C CF


    UIFSFTVMUJOHOVNCFSNVMUJQMJFECZ

    
     3FUVSO A4BD;C

     3FQMBDFBOZDIBSBDUFSTJO 8=?DC UIBUIBWFB6OJDPEFDPEFQPJOUHSFBUFSUIBO6 '''' JFBOZDIBSBDUFST


    UIBUBSFOPUJOUIFCBTJDNVMUJMJOHVBMQMBOF
    XJUIUIFUXPDIBSBDUFSTUSJOH

     *G 8=?DC JTMPOHFSUIBODIBSBDUFST USVODBUF 8=?DC MFBWJOHPOMZUIFИSTUDIBSBDUFST

     *GUIFИSTUDIBSBDUFSJO 8=?DC JTB6 /6.#&34*(/DIBSBDUFS 


    SFNPWFJU

     3FQMBDFBOZDIBSBDUFSJO 8=?DC UIBUJTOPUJOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 

    6 -"5*/$"1*5"--&55&3"UP6 -"5*/$"1*5"--&55&3' BOE6 -"5*/4."---&55&3"
    UP6 -"5*/4."---&55&3'XJUIUIFDIBSBDUFS6 %*(*5;&30 
    

     8IJMF 8=?DCTMFOHUIJT[FSPPSOPUBNVMUJQMFPGUISFF BQQFOEB6 %*(*5;&30 


    DIBSBDUFSUP 8=?DC

     4QMJU 8=?DC JOUPUISFFTUSJOHTPGFRVBMMFOHUI UPPCUBJOUISFFDPNQPOFOUT-FU ;4=6C7 CFUIFMFOHUIPGUIPTF


    DPNQPOFOUT POFUIJSEUIFMFOHUIPG 8=?DC
    

     *G ;4=6C7 JTHSFBUFSUIBO UIFOSFNPWFUIFMFBEJOH ;4=6C7 DIBSBDUFSTJOFBDIDPNQPOFOU BOEMFU ;4=6C7


    CF

     8IJMF ;4=6C7 JTHSFBUFSUIBOUXPBOEUIFИSTUDIBSBDUFSJOFBDIDPNQPOFOUJTB6 %*(*5;&30 

    DIBSBDUFS SFNPWFUIBUDIBSBDUFSBOESFEVDF ;4=6C7 CZPOF

     *G ;4=6C7 JT BC8;; HSFBUFSUIBOUXP USVODBUFFBDIDPNQPOFOU MFBWJOHPOMZUIFИSTUUXPDIBSBDUFSTJOFBDI

     -FU A4BD;C CFB TJNQMFDPMPS Q 

     *OUFSQSFUUIFИSTUDPNQPOFOUBTBIFYBEFDJNBMOVNCFSMFUUIFSFEDPNQPOFOUPG A4BD;C CFUIFSFTVMUJOH


    OVNCFS

     *OUFSQSFUUIFTFDPOEDPNQPOFOUBTBIFYBEFDJNBMOVNCFSMFUUIFHSFFODPNQPOFOUPG A4BD;C CFUIF


    SFTVMUJOHOVNCFS

     *OUFSQSFUUIFUIJSEDPNQPOFOUBTBIFYBEFDJNBMOVNCFSMFUUIFCMVFDPNQPOFOUPG A4BD;C CFUIFSFTVMUJOH


    OVNCFS

     3FUVSO A4BD;C

    *HM> 0A>  @K:IAB<L<HGM>QM I A:L:L>I:K:M><HEHKLRGM:QMA:M:ELHA:G=E>LHI:<BMR

       /J;=? M?J;L;N?>NIE?HM

    " M?NI@MJ;=? M?J;L;N?>NIE?HM JTBTUSJOHDPOUBJOJOH[FSPPSNPSFXPSETTFQBSBUFECZPOFPSNPSF TQBDF


    DIBSBDUFST Q XIFSFXPSETDPOTJTUPGBOZTUSJOHPGPOFPSNPSFDIBSBDUFST OPOFPGXIJDIBSF TQBDFDIBSBDUFST Q 

    "TUSJOHDPOUBJOJOHB TFUPGTQBDFTFQBSBUFEUPLFOT Q NBZIBWFMFBEJOHPSUSBJMJOH TQBDFDIBSBDUFST Q 

    "O OHIL>?L?>M?NI@OHCKO?MJ;=? M?J;L;N?>NIE?HM JTB TFUPGTQBDFTFQBSBUFEUPLFOT Q XIFSFOPOFPGUIF


    XPSETBSFEVQMJDBUFE

    "O IL>?L?>M?NI@OHCKO?MJ;=? M?J;L;N?>NIE?HM JTB TFUPGTQBDFTFQBSBUFEUPLFOT Q XIFSFOPOFPGUIFXPSET


    BSFEVQMJDBUFECVUXIFSFUIFPSEFSPGUIFUPLFOTJTNFBOJOHGVM

    4FUTPGTQBDFTFQBSBUFEUPLFOT Q TPNFUJNFTIBWFBEFИOFETFUPGBMMPXFEWBMVFT8IFOBTFUPGBMMPXFEWBMVFTJT


    EFИOFE UIFUPLFOTNVTUBMMCFGSPNUIBUMJTUPGBMMPXFEWBMVFTPUIFSWBMVFTBSFOPODPOGPSNJOH*GOPTVDITFUPG
    BMMPXFEWBMVFTJTQSPWJEFE UIFOBMMWBMVFTBSFDPOGPSNJOH

    8IFOBVTFSBHFOUIBTUP MJFCN;MNLCHAIHMJ;=?M JUNVTUVTFUIFGPMMPXJOHBMHPSJUIN

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     -FU C>:4=B CFBMJTUPGUPLFOT JOJUJBMMZFNQUZ

     4LJQXIJUFTQBDF Q

     8IJMF ?>B8C8>= JTOPUQBTUUIFFOEPG 8=?DC

    
     $PMMFDUBTFRVFODFPGDIBSBDUFST Q UIBUBSFOPU TQBDFDIBSBDUFST Q 

     "EEUIFTUSJOHDPMMFDUFEJOUIFQSFWJPVTTUFQUP C>:4=B

     4LJQXIJUFTQBDF Q

     3FUVSO C>:4=B

    8IFOBVTFSBHFOUIBTUP L?GIP?;NIE?H@LIG;MNLCHA JUNVTUVTFUIFGPMMPXJOHBMHPSJUIN

     -FU 8=?DC CFUIFTUSJOHCFJOHNPEJИFE

     -FU C>:4= CFUIFUPLFOCFJOHSFNPWFE*UXJMMOPUDPOUBJOBOZ TQBDFDIBSBDUFST Q 

     -FU >DC?DC CFUIFPVUQVUTUSJOH JOJUJBMMZFNQUZ

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     *G ?>B8C8>= JTCFZPOEUIFFOEPG 8=?DC BCPSUUIFTFTUFQT

     *GUIFDIBSBDUFSBU ?>B8C8>= JTB TQBDFDIBSBDUFS Q 

     "QQFOEUIFDIBSBDUFSBU ?>B8C8>= UPUIFFOEPG >DC?DC

     "EWBODF ?>B8C8>= TPJUQPJOUTBUUIFOFYUDIBSBDUFSJO 8=?DC

     3FUVSOUPTUFQJOUIFPWFSBMMTFUPGTUFQT

     0UIFSXJTF UIFDIBSBDUFSBU ?>B8C8>= JTUIFИSTUDIBSBDUFSPGBUPLFO $PMMFDUBTFRVFODFPGDIBSBDUFST Q UIBU


    BSFOPU TQBDFDIBSBDUFST Q BOEMFUUIBUCF B

     *G B JTFYBDUMZFRVBMUP C>:4= UIFO

     4LJQXIJUFTQBDF Q JO 8=?DC


    

     3FNPWFBOZ TQBDFDIBSBDUFST Q DVSSFOUMZBUUIFFOEPG >DC?DC

     *G ?>B8C8>= JTOPUQBTUUIFFOEPG 8=?DC BOE >DC?DC JTOPUUIFFNQUZTUSJOH BQQFOEBTJOHMF6 


    41"$&DIBSBDUFSBUUIFFOEPG >DC?DC

     0UIFSXJTF BQQFOE B UPUIFFOEPG >DC?DC

     3FUVSOUPTUFQJOUIFPWFSBMMTFUPGTUFQT

    *HM> 0ABL<:NL>L:GRH<<NKK>G<>LH?MA>MHD>GMH;>K>FHO>=?KHFMA>LMKBG@ :G=:GRLI:<>L


    MA:MP>K>LNKKHNG=BG@MA>MHD>GMH;><HEE:IL>=MH:LBG@E>LI:<> >Q<>IM:MMA>LM:KM:G=>G=H?
    MA>LMKBG@ PA>K>LN<ALI:<>L:K>K>FHO>=

       IGG; M?J;L;N?>NIE?HM

    " M?NI@=IGG; M?J;L;N?>NIE?HM JTBTUSJOHDPOUBJOJOH[FSPPSNPSFUPLFOTFBDITFQBSBUFEGSPNUIFOFYUCZB


    TJOHMF6 $$0.."DIBSBDUFS
    XIFSFUPLFOTDPOTJTUPGBOZTUSJOHPG[FSPPSNPSFDIBSBDUFST OFJUIFSCFHJOOJOH
    OPSFOEJOHXJUI TQBDFDIBSBDUFST Q OPSDPOUBJOJOHBOZ6 $$0.."DIBSBDUFST
    BOEPQUJPOBMMZTVSSPVOEFECZ
    TQBDFDIBSBDUFST Q 

    'PSJOTUBODF UIFTUSJOH B C E E DPOTJTUTPGGPVSUPLFOTB C UIFFNQUZTUSJOH BOEE E-FBEJOHBOE


    USBJMJOHXIJUFTQBDFBSPVOEFBDIUPLFOEPFTOUDPVOUBTQBSUPGUIFUPLFO BOEUIFFNQUZTUSJOHDBOCFBUPLFO

    4FUTPGDPNNBTFQBSBUFEUPLFOT Q TPNFUJNFTIBWFGVSUIFSSFTUSJDUJPOTPOXIBUDPOTJTUTBWBMJEUPLFO8IFOTVDI


    SFTUSJDUJPOTBSFEFИOFE UIFUPLFOTNVTUBMMИUXJUIJOUIPTFSFTUSJDUJPOTPUIFSWBMVFTBSFOPODPOGPSNJOH*GOPTVDI
    SFTUSJDUJPOTBSFTQFDJИFE UIFOBMMWBMVFTBSFDPOGPSNJOH

    8IFOBVTFSBHFOUIBTUP MJFCN;MNLCHAIH=IGG;M JUNVTUVTFUIFGPMMPXJOHBMHPSJUIN

     -FU 8=?DC CFUIFTUSJOHCFJOHQBSTFE

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     -FU C>:4=B CFBMJTUPGUPLFOT JOJUJBMMZFNQUZ

     *>:4=*G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC KVNQUPUIFMBTUTUFQ

    
     $PMMFDUBTFRVFODFPGDIBSBDUFST Q UIBUBSFOPU6 $$0.."DIBSBDUFST
    -FU B CFUIFSFTVMUJOH
    TFRVFODF XIJDINJHIUCFUIFFNQUZTUSJOH
    

     3FNPWFBOZMFBEJOHPSUSBJMJOHTFRVFODFPG TQBDFDIBSBDUFST Q GSPN B

     "EE B UP C>:4=B

     *G ?>B8C8>= JTOPUQBTUUIFFOEPG 8=?DC UIFOUIFDIBSBDUFSBU ?>B8C8>= JTB6 $$0.."DIBSBDUFS


    
    BEWBODF ?>B8C8>= QBTUUIBUDIBSBDUFS

     +VNQCBDLUPUIFTUFQMBCFMFE C>:4=

     3FUVSO C>:4=B

       .?@?L?H=?M

    " P;FC>B;MB H;G?L?@?L?H=? UPBOFMFNFOUPGUZQF CH?4 JTBTUSJOHDPOTJTUJOHPGB6 /6.#&34*(/DIBSBDUFS


    
    GPMMPXFECZBTUSJOHXIJDIFYBDUMZNBUDIFTUIFWBMVFPGUIF OBNF BUUSJCVUFPGBOFMFNFOUXJUIUZQF CH?4 JOUIF
    EPDVNFOU

    5IF LOF?M@ILJ;LMCHA;B;MB H;G?L?@?L?H=? UPBOFMFNFOUPGUZQF CH?4 BSFBTGPMMPXT

     *GUIFTUSJOHCFJOHQBSTFEEPFTOPUDPOUBJOB6 /6.#&34*(/DIBSBDUFS PSJGUIFИSTUTVDIDIBSBDUFS


    JOUIFTUSJOHJTUIFMBTUDIBSBDUFSJOUIFTUSJOH UIFOSFUVSOOVMMBOEBCPSUUIFTFTUFQT

     -FU B CFUIFTUSJOHGSPNUIFDIBSBDUFSJNNFEJBUFMZBGUFSUIFИSTU6 /6.#&34*(/DIBSBDUFSJOUIF


    TUSJOHCFJOHQBSTFEVQUPUIFFOEPGUIBUTUSJOH

     3FUVSOUIFИSTUFMFNFOUPGUZQF CH?4 UIBUIBTBO JE Q BUUSJCVUFXIPTFWBMVFJTB DBTFTFOTJUJWF Q NBUDIGPS


    B PSB OBNF BUUSJCVUFXIPTFWBMVFJTB DPNQBUJCJMJUZDBTFMFTT Q NBUDIGPS B

       )?>C;KO?LC?M

    "TUSJOHJTB P;FC>G?>C;KO?LS JGJUNBUDIFTUIF NFEJB@RVFSZ@MJTU QSPEVDUJPOPGUIF.FEJB2VFSJFTTQFDJИDBUJPO


    <.2> Q

    "TUSJOH G;N=B?MNB??HPCLIHG?HN PGUIFVTFSJGJUJTUIFFNQUZTUSJOH BTUSJOHDPOTJTUJOHPGPOMZ TQBDF


    DIBSBDUFST Q PSJTBNFEJBRVFSZUIBUNBUDIFTUIFVTFSTFOWJSPONFOUBDDPSEJOHUPUIFEFИOJUJPOTHJWFOJOUIF.FEJB
    2VFSJFTTQFDJИDBUJPO <.2> Q

      1.(M

       0?LGCHIFIAS

    " 1.( JTBTUSJOHVTFEUPJEFOUJGZBSFTPVSDF

    " 63- Q JTB P;FC>1.( JGBUMFBTUPOFPGUIFGPMMPXJOHDPOEJUJPOTIPMET

    Ǭ 5IF 63- Q JTBWBMJE63*SFGFSFODF <3'$> Q 

    Ǭ 5IF 63- Q JTBWBMJE*3*SFGFSFODFBOEJUIBTOPRVFSZDPNQPOFOU <3'$> Q

    Ǭ 5IF 63- Q JTBWBMJE*3*SFGFSFODFBOEJUTRVFSZDPNQPOFOUDPOUBJOTOPVOFTDBQFEOPO"4$**DIBSBDUFST


    <3'$> Q

    Ǭ 5IF 63- Q JTBWBMJE*3*SFGFSFODFBOEUIF DIBSBDUFSFODPEJOH Q PGUIF63-T %PDVNFOU Q JT65'PS
    65' <3'$> Q

    " 63- Q JTB P;FC>HIH ?GJNS1.( JGJUJTB WBMJE63- Q CVUJUJTOPUUIFFNQUZTUSJOH

    5P J;LM?;1.( DA; JOUPJUTDPNQPOFOUQBSUT UIFVTFSBHFOUNVTUVTFUIF QBSTFBOBEESFTT BMHPSJUINEFИOFECZ

    UIF*3*TQFDJИDBUJPO <3'$> Q

    1BSTJOHB63-DBOGBJM*GJUEPFTOPU UIFOSFTVMUTJOUIFGPMMPXJOHDPNQPOFOUT BHBJOBTEFИOFECZUIF*3*TQFDJИDBUJPO

    Ǭ M=B?G?

    
    Ǭ BIMN
    Ǭ JILN
    Ǭ BIMNJILN
    Ǭ J;NB
    Ǭ KO?LS
    Ǭ @L;AG?HN
    Ǭ BIMN MJ?=C]=

    5P L?MIFP?;1.( UPBO BCTPMVUF63- Q SFMBUJWFUPFJUIFSBOPUIFS BCTPMVUF63- Q PSBOFMFNFOU UIFVTFSBHFOUNVTU


    VTFUIFGPMMPXJOHTUFQT3FTPMWJOHB63-DBOSFTVMUJOBOFSSPS JOXIJDIDBTFUIF63-JTOPUSFTPMWBCMF

     -FU DA; CFUIF 63- Q CFJOHSFTPMWFE

     -FU 4=2>38=6 CFEFUFSNJOFEBTGPMMPXT

    X %@NB?1.(B;>;=B;L;=N?L?H=I>CHA>?]H?>QB?HNB?1.(Q;M=L?;N?>IL>?]H?>
    5IF63-DIBSBDUFSFODPEJOHJTBTEFИOFE

    X %@NB?1.(=;G?@LIG;M=LCJN? A ;M;H;LAOG?HNNI;G?NBI>
    5IF63-DIBSBDUFSFODPEJOHJTUIF TDSJQUT63-DIBSBDUFSFODPEJOH Q 

    X %@NB?1.(=;G?@LIG; +)HI>?? A @LIG;H?F?G?HN


    5IFOPEFIBTB %PDVNFOU Q BOEUIF63-DIBSBDUFSFODPEJOHJTUIF EPDVNFOUTDIBSBDUFS
    FODPEJOH Q 

     *G 4=2>38=6 JTB65'FODPEJOH UIFODIBOHFUIFWBMVFPG 4=2>38=6 UP65'

     *GUIFBMHPSJUINXBTJOWPLFEXJUIBO BCTPMVUF63- Q UPVTFBTUIFCBTF63- MFU 10B4 CFUIBU BCTPMVUF


    63- Q 

    0UIFSXJTF MFU 10B4 CFUIF 10B4+(>5C744;4<4=C BTEFИOFECZUIF9.-#BTFTQFDJИDBUJPO XJUI C7410B4


    +(>5C743>2D<4=C4=C8CH CFJOHEFИOFEBTUIF EPDVNFOUCBTF63- Q PGUIF %PDVNFOU Q UIBUPXOTUIF
    FMFNFOU <9.-#"4&> Q

    'PSUIFQVSQPTFTPGUIF9.-#BTFTQFDJИDBUJPO VTFSBHFOUTNVTUBDUBTJGBMM %PDVNFOU Q PCKFDUT


    SFQSFTFOUFE9.-EPDVNFOUT

    *HM> %MBLIHLLB;E>?HK QFE;:L> I :MMKB;NM>LMH;>IK>L>GM>O>GBG$0)(?K:@F>GML :L


    LN<A:MMKB;NM>L<:G;>:==>==RG:FB<:EERNLBG@L<KBIM /N<AL<KBIMLPHNE=GHM;>
    <HG?HKFBG@ AHP>O>K :L QFE;:L> I :MMKB;NM>L:K>GHM:EEHP>=BG $0)(=H<NF>GML I 

    5IF >I=OG?HN<;M?1.( PGB %PDVNFOU Q PCKFDUJTUIF BCTPMVUF63- Q PCUBJOFECZSVOOJOHUIFTF


    TVCTUFQT

     -FU 50;;102:10B4DA; CF UIFEPDVNFOUTBEESFTT Q 

     *G 50;;102:10B4DA; JT BCPVUCMBOL Q BOEUIF %PDVNFOU Q T CSPXTJOHDPOUFYU Q IBTB DSFBUPS
    CSPXTJOHDPOUFYU Q UIFOMFU 50;;102:10B4DA; CFUIF EPDVNFOUCBTF63- Q PGUIF DSFBUPS
    %PDVNFOU Q JOTUFBE

     *GUIFSFJTOP CBTF Q FMFNFOUUIBUJTCPUIBDIJMEPG UIF IFBE FMFNFOU Q BOEIBTBO ISFG Q
    BUUSJCVUF UIFOUIF EPDVNFOUCBTF63- Q JT 50;;102:10B4DA;

     0UIFSXJTF MFU DA; CFUIFWBMVFPGUIF ISFG Q BUUSJCVUFPGUIFИSTUTVDIFMFNFOU

     3FTPMWF Q DA; SFMBUJWFUP 50;;102:10B4DA; UIVT UIF CBTF Q ISFG Q BUUSJCVUFJTOUBЗFDUFECZ
    YNMCBTF Q BUUSJCVUFT
    

     5IF EPDVNFOUCBTF63- Q JTUIFSFTVMUPGUIFQSFWJPVTTUFQJGJUXBTTVDDFTTGVMPUIFSXJTFJUJT


    50;;102:10B4DA;

     3FUVSOUIFSFTVMUPGBQQMZJOHUIF SFTPMWFBOBEESFTT BMHPSJUINEFИOFECZUIF*3*TQFDJИDBUJPOUPSFTPMWF

    DA; SFMBUJWFUP 10B4 VTJOHFODPEJOH 4=2>38=6 <3'$> Q

    " 63- Q JTBO ;<MIFON?1.( JG SFTPMWJOH Q JUSFTVMUTJOUIFTBNFPVUQVUSFHBSEMFTTPGXIBUJUJTSFTPMWFESFMBUJWFUP


    BOEUIBUPVUQVUJTOPUBGBJMVSF

    
    "O BCTPMVUF63- Q JTB BC?L;L=BC=;F1.( JG XIFO SFTPMWFE Q BOEUIFO QBSTFE Q UIFSFJTBDIBSBDUFSJNNFEJBUFMZ
    BGUFSUIF TDIFNF Q DPNQPOFOUBOEJUJTB6 '40-*%64DIBSBDUFS 
    

    "O BCTPMVUF63- Q JTBO ;ONBILCNS <;M?>1.( JG XIFO SFTPMWFE Q BOEUIFO QBSTFE Q UIFSFBSFUXPDIBSBDUFST
    JNNFEJBUFMZBGUFSUIF TDIFNF Q DPNQPOFOUBOEUIFZBSFCPUI6 '40-*%64DIBSBDUFST 
    

    5IJTTQFDJИDBUJPOEFИOFTUIF63- <=JPOG@B<>T >JHK<O BTBSFTFSWFE UIPVHIVOSFTPMWBCMF BCPVU 63* GPSVTFJO


    %0$5:1& Q TJO )5.-EPDVNFOUT Q XIFOOFFEFEGPSDPNQBUJCJMJUZXJUI9.-UPPMT <"#065> Q

    5IJTTQFDJИDBUJPOEFИOFTUIF63- <=JPONM>?J> BTBSFTFSWFE UIPVHIVOSFTPMWBCMF BCPVU 63* UIBUJTVTFEBT UIF


    EPDVNFOUTBEESFTT Q PG JGSBNF TSDEPD EPDVNFOUT Q  <"#065> Q

    *HM> 0A>M>KF1.(BGMABLLI><B[<:MBHGBLNL>=BG:F:GG>K=BLMBG<M?KHFMA>IK><BL>M><AGB<:E
    F>:GBG@BMBL@BO>GBG." .>:=>KL?:FBEB:KPBMAMA:M."PBEE[G=BM>:LB>KMHK>:= MABL
    LI><B[<:MBHGB?MA>RIK>M>G=MA>M>KF1.(:LNL>=A>K>BGBLK>:EER<:EE>=LHF>MABG@>EL>
    :EMH@>MA>K 0ABLBL: PBEE?NEOBHE:MBHG I H?." 7."8 I

       SH;GC==B;HA?MNI<;M?1.(M

    8IFOBO YNMCBTF Q BUUSJCVUFDIBOHFT UIFBUUSJCVUFTFMFNFOU BOEBMMEFTDFOEBOUFMFNFOUT BSF BЗFDUFECZBCBTF


    63-DIBOHF Q 

    8IFOBEPDVNFOUT EPDVNFOUCBTF63- Q DIBOHFT BMMFMFNFOUTJOUIBUEPDVNFOUBSF BЗFDUFECZBCBTF63-


    DIBOHF Q 

    8IFOBOFMFNFOUJTNPWFEGSPNPOFEPDVNFOUUPBOPUIFS JGUIFUXPEPDVNFOUTIBWFEJЗFSFOU CBTF63-T Q UIFO


    UIBUFMFNFOUBOEBMMJUTEFTDFOEBOUTBSF BЗFDUFECZBCBTF63-DIBOHF Q 

    8IFOBOFMFNFOUJT ;\?=N?><S;<;M?1.(=B;HA? JUNVTUBDUBTEFTDSJCFEJOUIFGPMMPXJOHMJTU


    J
    X %@NB??F?G?HNCM; BSJ?LFCHE?F?G?HN
    *GUIF BCTPMVUF63- Q JEFOUJИFECZUIFIZQFSMJOLJTCFJOHTIPXOUPUIFVTFS PSJGBOZEBUBEFSJWFEGSPNUIBU
    63-JTBЗFDUJOHUIFEJTQMBZ UIFOUIF ISFG Q BUUSJCVUFTIPVMECF SFSFTPMWFE Q SFMBUJWFUPUIFFMFNFOUBOE
    UIF6*VQEBUFEBQQSPQSJBUFMZ

    'PSFYBNQMF UIF$44 MJOL Q WJTJUFE Q QTFVEPDMBTTFTNJHIUIBWFCFFOBЗFDUFE

    *GUIFIZQFSMJOLIBTB QJOH Q BUUSJCVUFBOEJUT BCTPMVUF63- T


    Q BSFCFJOHTIPXOUPUIFVTFS UIFOUIF
    QJOH Q BUUSJCVUFTUPLFOTTIPVMECF SFSFTPMWFE Q SFMBUJWFUPUIFFMFNFOUBOEUIF6*VQEBUFEBQQSPQSJBUFMZ
    K
    X %@NB??F?G?HNCM; L
    =GJ>FLPJO@ K
    N@>ODJI K
    <MOD>G@ K
    DIN K
    IL ?@G K ?F?G?HNQCNB; >DO@
    ;NNLC<ON?
    *GUIF BCTPMVUF63- Q JEFOUJИFECZUIF DJUF BUUSJCVUFJTCFJOHTIPXOUPUIFVTFS PSJGBOZEBUBEFSJWFEGSPN
    UIBU63-JTBЗFDUJOHUIFEJTQMBZ UIFOUIF 63- Q TIPVMECF SFSFTPMWFE Q SFMBUJWFUPUIFFMFNFOUBOEUIF6*
    VQEBUFEBQQSPQSJBUFMZ

    X +NB?LQCM?
    5IFFMFNFOUJTOPUEJSFDUMZBЗFDUFE

    $IBOHJOHUIFCBTF63-EPFTOUBЗFDUUIFJNBHFEJTQMBZFECZ JNH Q FMFNFOUT BMUIPVHITVCTFRVFOU


    BDDFTTFTPGUIF TSD Q *%-BUUSJCVUFGSPNTDSJQUXJMMSFUVSOBOFX BCTPMVUF63- Q UIBUNJHIUOPMPOHFS
    DPSSFTQPOEUPUIFJNBHFCFJOHTIPXO

       %HN?L@;=?M@IL1.(G;HCJOF;NCIH

    "OJOUFSGBDFUIBUIBTBDPNQMFNFOUPG 1.(>?=IGJIMCNCIH% (;NNLC<ON?M XJMMIBWFTFWFOBUUSJCVUFTXJUIUIF


    GPMMPXJOHEFИOJUJPOT

    BUUSJCVUF%0.4USJOH QSPUPDPM
    BUUSJCVUF%0.4USJOH IPTU
    BUUSJCVUF%0.4USJOH IPTUOBNF
    BUUSJCVUF%0.4USJOH QPSU
    BUUSJCVUF%0.4USJOH QBUIOBNF

    
    BUUSJCVUF%0.4USJOH TFBSDI
    BUUSJCVUF%0.4USJOH IBTI

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    H KMJOJ>JG 7 O:EN> 8
    3FUVSOTUIFDVSSFOUTDIFNFPGUIFVOEFSMZJOH63-
    $BOCFTFU UPDIBOHFUIFVOEFSMZJOH63-TTDIFNF

    H CJNO K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUIPTUBOEQPSU JGJUTOPUUIFEFGBVMUQPSU
    JOUIFVOEFSMZJOH63-
    $BOCFTFU UPDIBOHFUIFVOEFSMZJOH63-TIPTUBOEQPSU
    5IFIPTUBOEUIFQPSUBSFTFQBSBUFECZBDPMPO5IFQPSUQBSU JGPNJUUFE XJMMCFBTTVNFEUPCFUIFDVSSFOU
    TDIFNFTEFGBVMUQPSU

    H CJNOI<H@ K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUIPTUJOUIFVOEFSMZJOH63-
    $BOCFTFU UPDIBOHFUIFVOEFSMZJOH63-TIPTU

    H KJMO K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUQPSUJOUIFVOEFSMZJOH63-
    $BOCFTFU UPDIBOHFUIFVOEFSMZJOH63-TQPSU

    H K<OCI<H@ K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUQBUIJOUIFVOEFSMZJOH63-
    $BOCFTFU UPDIBOHFUIFVOEFSMZJOH63-TQBUI

    H N@<M>C K 7 O:EN> 8


    3FUVSOTUIFDVSSFOURVFSZDPNQPOFOUJOUIFVOEFSMZJOH63-
    $BOCFTFU UPDIBOHFUIFVOEFSMZJOH63-TRVFSZDPNQPOFOU

    H C<NC K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUGSBHNFOUJEFOUJИFSJOUIFVOEFSMZJOH63-
    $BOCFTFU UPDIBOHFUIFVOEFSMZJOH63-TGSBHNFOUJEFOUJИFS

    5IFBUUSJCVUFTEFИOFEUPCF63-EFDPNQPTJUJPO*%-BUUSJCVUFTNVTUBDUBTEFTDSJCFEGPSUIFBUUSJCVUFTXJUIUIFTBNF
    DPSSFTQPOEJOHOBNFTJOUIJTTFDUJPO

    *OBEEJUJPO BOJOUFSGBDFXJUIBDPNQMFNFOUPG63-EFDPNQPTJUJPO*%-BUUSJCVUFTXJMMEFИOFBO CHJON XIJDIJTB 63- Q


    UIBUUIFBUUSJCVUFTBDUPO BOEB =IGGIHM?NN?L;=NCIH XIJDIJTBTFUPGTUFQTJOWPLFEXIFOBOZPGUIFBUUSJCVUFT
    TFUUFSTBSFJOWPLFE

    5IFTFWFO63-EFDPNQPTJUJPO*%-BUUSJCVUFTIBWFTJNJMBSSFRVJSFNFOUT

    0OHFUUJOH JGUIF JOQVU Q JTBO BCTPMVUF63- Q UIBUGVMИMMTUIFDPOEJUJPOHJWFOJOUIFHFUUFSDPOEJUJPODPMVNO


    DPSSFTQPOEJOHUPUIFBUUSJCVUFJOUIFUBCMFCFMPX UIFVTFSBHFOUNVTUSFUVSOUIFQBSUPGUIF JOQVU Q 63-HJWFOJOUIF
    DPNQPOFOUDPMVNO XJUIBOZQSFИYFTTQFDJИFEJOUIFQSFИYDPMVNOBQQSPQSJBUFMZBEEFEUPUIFTUBSUPGUIFTUSJOH
    BOEBOZTVКYFTTQFDJИFEJOUIFTVКYDPMVNOBQQSPQSJBUFMZBEEFEUPUIFFOEPGUIFTUSJOH0UIFSXJTF UIFBUUSJCVUF
    NVTUSFUVSOUIFFNQUZTUSJOH

    0OTFUUJOH UIFOFXWBMVFNVTUИSTUCFNVUBUFEBTEFTDSJCFECZUIFTFUUFSQSFQSPDFTTPSDPMVNO UIFONVUBUFECZ


    FTDBQJOHBOZDIBSBDUFSTJOUIFOFXWBMVFUIBUBSFOPUWBMJEJOUIFSFMFWBOUDPNQPOFOUBTHJWFOCZUIFDPNQPOFOU
    DPMVNO5IFO JGUIF JOQVU Q JTBO BCTPMVUF63- Q BOEUIFSFTVMUJOHOFXWBMVFGVMИMMTUIFDPOEJUJPOHJWFOJOUIFTFUUFS
    DPOEJUJPODPMVNO UIFVTFSBHFOUNVTUNBLFBOFXTUSJOH >DC?DC CZSFQMBDJOHUIFDPNQPOFOUPGUIF63-HJWFOCZUIF
    DPNQPOFOUDPMVNOJOUIF JOQVU Q 63-XJUIUIFOFXWBMVFPUIFSXJTF UIFVTFSBHFOUNVTUMFU >DC?DC CFFRVBMUPUIF
    JOQVU Q 'JOBMMZ UIFVTFSBHFOUNVTUJOWPLFUIF DPNNPOTFUUFSBDUJPO Q XJUIUIFWBMVFPG >DC?DC

    8IFOSFQMBDJOHBDPNQPOFOUJOUIF63- JGUIFDPNQPOFOUJTQBSUPGBOPQUJPOBMHSPVQJOUIF63-TZOUBYDPOTJTUJOHPG
    BDIBSBDUFSGPMMPXFECZUIFDPNQPOFOU UIFDPNQPOFOU JODMVEJOHJUTQSFИYDIBSBDUFS
    NVTUCFJODMVEFEFWFOJGUIF
    OFXWBMVFJTUIFFNQUZTUSJOH

    
    *HM> 0A>IK>OBHNLI:K:@K:IA:IIEB>LBGI:KMB<NE:KMHMA>;>?HK>:IHKM<HFIHG>GM MA>
    ;>?HK>:JN>KR<HFIHG>GM :G=MA>;>?HK>:?K:@F>GM<HFIHG>GM

    'PSUIFQVSQPTFTPGUIFBCPWFEFИOJUJPOT 63-TNVTUCFQBSTFEVTJOHUIF 63-QBSTJOHSVMFT Q EFИOFEJOUIJT


    TQFDJИDBUJPO

    NNLC<ON? IGJIH?HN #?NN?L ,L?]R /O_R /?NN?L,L?JLI=?MMIL /?NN?LIH>CNCIH


    IH>CNCIH

    KMJOJ>JG TDIFNF Q ǡ ǡ 6 " 3FNPWFBMMUSBJMJOH6 "$0-0/DIBSBDUFST 


    5IFOFXWBMVFJTOPU
    $0-0/ UIFFNQUZTUSJOH
    

    CJNO IPTUQPSU Q JOQVU Q JTBO ǡ ǡ ǡ 5IFOFXWBMVFJTOPU


    BVUIPSJUZCBTFE UIFFNQUZTUSJOHBOE
    63- Q JOQVU Q JTBO
    BVUIPSJUZCBTFE
    63- Q
    CJNOI<H@ IPTU Q JOQVU Q JTBO ǡ ǡ 3FNPWFBMMMFBEJOH6 '40-*%64DIBSBDUFST 
    5IFOFXWBMVFJTOPU
    BVUIPSJUZCBTFE UIFFNQUZTUSJOHBOE
    63- Q JOQVU Q JTBO
    BVUIPSJUZCBTFE
    63- Q
    KJMO QPSU Q JOQVU Q JTBO ǡ ǡ 3FNPWFBMMDIBSBDUFSTJOUIFOFXWBMVFGSPNUIF JOQVU Q JTBO
    BVUIPSJUZCBTFE ИSTUUIBUJTOPUJOUIFSBOHF6 %*(*5;&30 BVUIPSJUZCBTFE
    63- Q BOE 
    UP6 %*(*5/*/& 
    JGBOZ3FNPWFBOZ 63- Q BOEUIFOFX
    DPOUBJOFEB MFBEJOH6 %*(*5;&30DIBSBDUFST 
    JOUIF WBMVF XIFO
    QPSU Q OFXWBMVF*GUIFSFTVMUJOHTUSJOHJTFNQUZ TFUJUUP JOUFSQSFUUFEBTB
    DPNQPOFOU BTJOHMF6 %*(*5;&30DIBSBDUFS 
     CBTFUFOJOUFHFS JT
    QPTTJCMZBO MFTTUIBOPSFRVBMUP
    FNQUZPOF
    
    K<OCI<H@ QBUI Q JOQVU Q JTB ǡ ǡ *GJUIBTOPMFBEJOH6 '40-*%64DIBSBDUFS 
    JOQVU Q JT
    IJFSBSDIJDBM QSFQFOEB6 '40-*%64DIBSBDUFS 
    UPUIF IJFSBSDIJDBM
    63- Q OFXWBMVF
    N@<M>C RVFSZ Q JOQVU Q JTB 6 ' ǡ 3FNPWFPOFMFBEJOH6 '26&45*0/."3, JOQVU Q JTB
    IJFSBSDIJDBM 26&45*0/ DIBSBDUFS
    JGBOZ IJFSBSDIJDBM63- Q
    63- Q BOE ."3,

    DPOUBJOFEB
    RVFSZ Q
    DPNQPOFOU
    QPTTJCMZBO
    FNQUZPOF

    C<NC GSBHNFOU Q JOQVU Q 6  ǡ 3FNPWFPOFMFBEJOH6 /6.#&34*(/ ǡ


    DPOUBJOFEBOPO /6.#&3 DIBSBDUFS 
    JGBOZ
    FNQUZ 4*(/ 

    GSBHNFOU Q
    DPNQPOFOU

    5IFUBCMFCFMPXEFNPOTUSBUFTIPXUIFHFUUFS DPOEJUJPO GPS TFBSDI Q SFTVMUTJOEJЗFSFOUSFTVMUTEFQFOEJOHPO


    UIFFYBDUPSJHJOBMTZOUBYPGUIF63-

    %HJON1.( N@<M>C K !RJF;H;NCIH


    P;FO?

    IUUQFYBNQMFDPN 4<?CHBCA8=6 /P RVFSZ Q DPNQPOFOUJOJOQVU63-


    IUUQFYBNQMFDPN 5IFSFJTB RVFSZ Q DPNQPOFOU CVUJUJTFNQUZ 5IFRVFTUJPONBSLJOUIFSFTVMUJOHWBMVF
    JTUIFQSFИY
    IUUQFYBNQMFDPN UFTU 5IF RVFSZ Q DPNQPOFOUIBTUIFWBMVFUFTU
    UFTU
    IUUQFYBNQMFDPN UFTU 5IF FNQUZ
    GSBHNFOU Q DPNQPOFOUJTOPUQBSUPGUIF RVFSZ Q DPNQPOFOU
    UFTU

      "?N=BCHAL?MIOL=?M

    8IFOBVTFSBHFOUJTUP @?N=B BSFTPVSDFPS 63- Q PQUJPOBMMZGSPNBOPSJHJO >A868= BOEPQUJPOBMMZXJUIB BH=27A>=>DB


    Q06 BOEPSB <0=D0;A438A42CQ06 UIFGPMMPXJOHTUFQTNVTUCFSVO 8IFOB +(" JTUPCFGFUDIFE UIF63-JEFOUJИFTB
    SFTPVSDFUPCFPCUBJOFE

     (FOFSBUFUIF 033A4BB>5C74A4B>DA245A><F7827(4@D4BC+(B0A4>1C08=43 BTSFRVJSFECZ)551GPSUIF


    3FGFSFS TJD
    IFBEFSGSPN UIFEPDVNFOUTDVSSFOUBEESFTT Q PGUIFBQQSPQSJBUF %PDVNFOU Q BTHJWFOCZUIF
    GPMMPXJOHMJTU <)551> Q

    
    J
    X 3B?H H;PCA;NCHA
    5IF BDUJWFEPDVNFOU Q PGUIF TPVSDFCSPXTJOHDPOUFYU Q 

    X 3B?H@?N=BCHAL?MIOL=?M@IL;H?F?G?HN
    5IFFMFNFOUT %PDVNFOU Q 

    X 3B?H@?N=BCHAL?MIOL=?MCHL?MJIHM?NI;=;FFNI;H,%
    5IF FOUSZTDSJQU Q T EPDVNFOU Q 

    3FNPWFBOZ GSBHNFOU Q DPNQPOFOUGSPNUIFHFOFSBUFE 033A4BB>5C74A4B>DA245A><F7827(4@D4BC


    +(B0A4>1C08=43

    *GUIF PSJHJO Q PGUIFBQQSPQSJBUF %PDVNFOU Q JTOPUBTDIFNFIPTUQPSUUVQMF UIFOUIF 3FGFSFS TJD

    IFBEFSNVTUCFPNJUUFE SFHBSEMFTTPGJUTWBMVF

     *GUIFBMHPSJUINXBTOPUJOWPLFEXJUIUIF BH=27A>=>DBQ06 QFSGPSNUIFSFNBJOJOHTUFQTBTZODISPOPVTMZ

     5IJTJTUIF <08=BC4?

    *GUIFSFTPVSDFJTJEFOUJИFECZBO BCTPMVUF63- Q BOEUIFSFTPVSDFJTUPCFPCUBJOFEVTJOHBOJEFNQPUFOU


    BDUJPO TVDIBTBO)551(&5 PSFRVJWBMFOU Q
    BOEJUJTBMSFBEZCFJOHEPXOMPBEFEGPSPUIFSSFBTPOT FH
    BOPUIFSJOWPDBUJPOPGUIJTBMHPSJUIN
    BOEUIJTSFRVFTUXPVMECFJEFOUJDBMUPUIFQSFWJPVTPOF FHTBNF
    "DDFQU BOE 0SJHJO IFBEFST
    BOEUIFVTFSBHFOUJTDPOИHVSFETVDIUIBUJUJTUPSFVTFUIFEBUBGSPNUIF
    FYJTUJOHEPXOMPBEJOTUFBEPGJOJUJBUJOHBOFXPOF UIFOVTFUIFSFTVMUTPGUIFFYJTUJOHEPXOMPBEJOTUFBEPG
    TUBSUJOHBOFXPOF

    0UIFSXJTF BUBUJNFDPOWFOJFOUUPUIFVTFSBOEUIFVTFSBHFOU EPXOMPBE PSPUIFSXJTFPCUBJO


    UIF
    SFTPVSDF BQQMZJOHUIFTFNBOUJDTPGUIFSFMFWBOUTQFDJИDBUJPOT FHQFSGPSNJOHBO)551(&5PS1045
    PQFSBUJPO PSSFBEJOHUIFИMFGSPNEJTL EFSFGFSFODJOH KBWBTDSJQU 63-T Q FUD
    

    'PSUIFQVSQPTFTPGUIF 3FGFSFS TJD


    IFBEFS VTFUIF 033A4BB>5C74A4B>DA245A><F7827(4@D4BC+(B0A4
    >1C08=43 HFOFSBUFEJOUIFFBSMJFSTUFQ

    'PSUIFQVSQPTFTPGUIF 0SJHJO IFBEFS JGUIF GFUDIJOHBMHPSJUIN Q XBTFYQMJDJUMZJOJUJBUFEGSPNBO >A868=


    UIFO C74>A868=C70C8=8C80C43C74**&A4@D4BC JT >A868=0UIFSXJTF UIJTJT 0A4@D4BC5A><0?A8E02H
    B4=B8C8E42>=C4GC <03*(*/> Q

    *GUIFSFTPVSDFJTJEFOUJИFECZUIF 63- Q <=JPO=G<IF UIFOUIFSFTPVSDFJTJNNFEJBUFMZBWBJMBCMFBOE


    DPOTJTUTPGUIFFNQUZTUSJOH XJUIOPNFUBEBUB

     *GUIFSFBSFDPPLJFTUPCFTFU UIFOUIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTVCTUFQT

     8BJUVOUJMPXOFSTIJQPGUIF TUPSBHFNVUFY Q DBOCFUBLFOCZUIJTJOTUBODFPGUIF GFUDIJOH Q


    BMHPSJUIN

     5BLFPXOFSTIJQPGUIF TUPSBHFNVUFY Q 

     6QEBUFUIFDPPLJFT <$00,*&4> Q

     3FMFBTFUIF TUPSBHFNVUFY Q TPUIBUJUJTPODFBHBJOGSFF

     *GUIFGFUDIFESFTPVSDFJTBO)551SFEJSFDU PSFRVJWBMFOU Q UIFO

    X %@NB? F:GN:EK>=BK><M\:@ CMM?N


    $POUJOVF VTJOHUIFGFUDIFESFTPVSDF UIFSFEJSFDU
    BTUIFSFTVMUPGUIFBMHPSJUIN

    X +NB?LQCM?
    'JSTU BQQMZBOZSFMFWBOUSFRVJSFNFOUTGPSSFEJSFDUT TVDIBTTIPXJOHBOZBQQSPQSJBUFQSPNQUT
    
    5IFO SFEP <08=BC4? CVUVTJOHUIFUBSHFUPGUIFSFEJSFDUBTUIFSFTPVSDFUPGFUDI SBUIFSUIBOUIF
    PSJHJOBMSFTPVSDF

    *HM> 0A>$00,LI><B[<:MBHGK>JNBK>LMA:M    :G= K>=BK><ML PA>G


    :IIEB>=MHF>MAH=LHMA>KMA:GMA>L:?>F>MAH=L GHM;>?HEEHP>=PBMAHNMNL>K
    <HG[KF:MBHG 0A:MPHNE=;>:G:IIKHIKB:M>IKHFIM?HKMA>INKIHL>LH?MA>
    K>JNBK>F>GMBGMA>I:K:@K:IA:;HO> 7$00,8 I

     *GUIFBMHPSJUINXBTOPUJOWPLFEXJUIUIF BH=27A>=>DBQ068IFOUIFSFTPVSDFJTBWBJMBCMF PSJGUIFSFJTBO


    FSSPSPGTPNFEFTDSJQUJPO RVFVFBUBTL Q UIBUVTFTUIFSFTPVSDFBTBQQSPQSJBUF*GUIFSFTPVSDFDBOCF
    QSPDFTTFEJODSFNFOUBMMZ BT GPSJOTUBODF XJUIBQSPHSFTTJWFMZJOUFSMBDFE+1&(PSBO)5.-ИMF BEEJUJPOBM

    
    UBTLTNBZCFRVFVFEUPQSPDFTTUIFEBUBBTJUJTEPXOMPBEFE5IF UBTLTPVSDF Q GPSUIFTF UBTLT Q JTUIF
    OFUXPSLJOHUBTLTPVSDF Q 

    0UIFSXJTF SFUVSOUIFSFTPVSDFPSFSSPSJOGPSNBUJPOUPUIFDBMMJOHBMHPSJUIN

    *GUIFVTFSBHFOUDBOEFUFSNJOFUIFBDUVBMMFOHUIPGUIFSFTPVSDFCFJOH GFUDIFE Q GPSBOJOTUBODFPGUIJTBMHPSJUIN


    BOEJGUIBUMFOHUIJTИOJUF UIFOUIBUMFOHUIJTUIFИMFT MCT?0UIFSXJTF UIFTVCKFDUPGUIFBMHPSJUIN UIBUJT UIF
    SFTPVSDFCFJOHGFUDIFE
    IBTOPLOPXO TJ[F Q  'PSFYBNQMF UIF)551 $POUFOU-FOHUI IFBEFSNJHIUQSPWJEFUIJT
    JOGPSNBUJPO

    5IFVTFSBHFOUNVTUBMTPLFFQUSBDLPGUIF HOG<?LI@<SN?M>IQHFI;>?> GPSFBDIJOTUBODFPGUIJTBMHPSJUIN5IJT


    OVNCFSNVTUFYDMVEFBOZPVUPGCBOENFUBEBUB TVDIBT)551IFBEFST

    *HM> 0A> :IIEB<:MBHG<:<A> I IKH<>LLBG@FH=>EBGMKH=N<>LLHF> <A:G@>LMHMA>G>MPHKDBG@


    FH=>E I MHA:G=E>MA>K>MNKGBG@H?<:<A>=K>LHNK<>L

    *HM> 0A> G:OB@:MBHG I IKH<>LLBG@FH=>EA:G=E>LK>=BK><MLBML>E? HO>KKB=BG@MA>K>=BK><MBHG


    A:G=EBG@MA:MPHNE=;>=HG>;RMA>?>M<ABG@:E@HKBMAF

    *HM> 3A>MA>KMA> MRI>LGB]G@KNE>L I :IIERMHMA>?>M<A>=K>LHNK<>=>I>G=LHGMA>:E@HKBMAF


    MA:MBGOHD>LMA>KNE>LWMA>R:K>GHM:EP:RL:IIEB<:;E>

       ,LINI=IF=IH=?JNM

    6TFSBHFOUTDBOJNQMFNFOUBWBSJFUZPGUSBOTGFSQSPUPDPMT CVUUIJTTQFDJИDBUJPONPTUMZEFИOFTCFIBWJPSJOUFSNTPG
    )551 <)551> Q

    5IF $00,#!0G?NBI> JTFRVJWBMFOUUPUIFEFGBVMUSFUSJFWBMBDUJPOPGUIFQSPUPDPM'PSFYBNQMF 3&53JO'514VDI


    BDUJPOTBSFJEFNQPUFOUBOETBGF JO)551UFSNT

    5IF $00,L?MJIHM?=I>?M BSFFRVJWBMFOUUPTUBUVTFTJOPUIFSQSPUPDPMTUIBUIBWFUIFTBNFCBTJDNFBOJOHT'PS


    FYBNQMF BИMFOPUGPVOEFSSPSJTFRVJWBMFOUUPBDPEF BTFSWFSFSSPSJTFRVJWBMFOUUPBYYDPEF BOETPPO

    5IF $00,B?;>?LM BSFFRVJWBMFOUUPИFMETJOPUIFSQSPUPDPMTUIBUIBWFUIFTBNFCBTJDNFBOJOH'PSFYBNQMF UIF


    )551BVUIFOUJDBUJPOIFBEFSTBSFFRVJWBMFOUUPUIFBVUIFOUJDBUJPOBTQFDUTPGUIF'51QSPUPDPM

       !H=LSJN?>$00,;H>L?F;N?>M?=OLCNS=IH=?LHM

    "OZUIJOHJOUIJTTQFDJИDBUJPOUIBUSFGFSTUP)551BMTPBQQMJFTUP)551PWFS5-4 BTSFQSFTFOUFECZ 63-T Q SFQSFTFOUJOH


    UIF IUUQT TDIFNF

    [3;LHCHA 1L>K:@>GMLLAHNE=K>IHKM<>KMB[<:M>>KKHKLMHMA>NL>K:G=FNLM>BMA>KK>?NL>MH=HPGEH:=
    K>LHNK<>LL>GMPBMA>KKHG>HNL<>KMB[<:M>LHKFNLM:<M:LB?LN<AK>LHNK<>LP>K>BG?:<ML>KO>=PBMAGH
    >G<KRIMBHG

    6TFSBHFOUTTIPVMEXBSOUIFVTFSUIBUUIFSFJTBQPUFOUJBMQSPCMFNXIFOFWFSUIFVTFSWJTJUTBQBHFUIBUUIFVTFSIBT
    QSFWJPVTMZWJTJUFE JGUIFQBHFVTFTMFTTTFDVSFFODSZQUJPOPOUIFTFDPOEWJTJU

    /PUEPJOHTPDBOSFTVMUJOVTFSTOPUOPUJDJOHNBOJOUIFNJEEMFBUUBDLT

    *GBVTFSDPOOFDUTUPBTFSWFSXJUIBTFMGTJHOFEDFSUJИDBUF UIFVTFSBHFOUDPVMEBMMPXUIFDPOOFDUJPOCVUKVTU
    BDUBTJGUIFSFIBECFFOOPFODSZQUJPO*GUIFVTFSBHFOUJOTUFBEBMMPXFEUIFVTFSUPPWFSSJEFUIFQSPCMFNBOE
    UIFOEJTQMBZFEUIFQBHFBTJGJUXBTGVMMZBOETBGFMZFODSZQUFE UIFVTFSDPVMECFFBTJMZUSJDLFEJOUPBDDFQUJOH
    NBOJOUIFNJEEMFDPOOFDUJPOT

    *GBVTFSDPOOFDUTUPBTFSWFSXJUIGVMMFODSZQUJPO CVUUIFQBHFUIFOSFGFSTUPBOFYUFSOBMSFTPVSDFUIBUIBTBO
    FYQJSFEDFSUJИDBUF UIFOUIFVTFSBHFOUXJMMBDUBTJGUIFSFTPVSDFXBTVOBWBJMBCMF QPTTJCMZBMTPSFQPSUJOHUIF
    QSPCMFNUPUIFVTFS*GUIFVTFSBHFOUJOTUFBEBMMPXFEUIFSFTPVSDFUPCFVTFE UIFOBOBUUBDLFSDPVMEKVTUMPPL
    GPSTFDVSFTJUFTUIBUVTFESFTPVSDFTGSPNBEJЗFSFOUIPTUBOEPOMZBQQMZNBOJOUIFNJEEMFBUUBDLTUPUIBU
    IPTU GPSFYBNQMFUBLJOHPWFSTDSJQUTJOUIFQBHF

    *GBVTFSCPPLNBSLTBTJUFUIBUVTFTB$"TJHOFEDFSUJИDBUF BOEUIFOMBUFSSFWJTJUTUIBUTJUFEJSFDUMZCVUUIFTJUF
    IBTTUBSUFEVTJOHBTFMGTJHOFEDFSUJИDBUF UIFVTFSBHFOUDPVMEXBSOUIFVTFSUIBUBNBOJOUIFNJEEMFBUUBDLJT
    MJLFMZVOEFSXBZ JOTUFBEPGTJNQMZBDUJOHBTJGUIFQBHFXBTOPUFODSZQUFE

    
       ?N?LGCHCHANB?NSJ?I@;L?MIOL=?

    5IF IHN?HN 0SJ?G?N;>;N; PGBSFTPVSDFNVTUCFPCUBJOFEBOEJOUFSQSFUFEJOBNBOOFSDPOTJTUFOUXJUIUIF


    SFRVJSFNFOUTPGUIF$POUFOU5ZQF1SPDFTTJOH.PEFMTQFDJИDBUJPO <.*.&4/*''> Q

    5IF ;FAILCNBG@IL?RNL;=NCHA;H?H=I>CHA@LIG;IHN?HN 0SJ? HJWFOBTUSJOH B JTHJWFOJOUIF$POUFOU5ZQF


    1SPDFTTJOH.PEFMTQFDJИDBUJPO*UFJUIFSSFUVSOTBOFODPEJOHPSOPUIJOH <.*.&4/*''> Q

    5IFBCPWFJTPVUPGEBUFOPXUIBUUIFSFMFWBOUTFDUJPOIBTCFFOSFNPWFEGSPN.*.&4/*''4UBZUVOFE*MMCSJOHJU
    CBDLIFSFTPPO

    5IF MHC\?>NSJ?I@;L?MIOL=? NVTUCFGPVOEJOBNBOOFSDPOTJTUFOUXJUIUIFSFRVJSFNFOUTHJWFOJOUIF$POUFOU


    5ZQF1SPDFTTJOH.PEFMTQFDJИDBUJPOGPSИOEJOHUIF B=8O43CH?4 PGUIFSFMFWBOUTFRVFODFPGPDUFUT <.*.&4/*''> Q

    5IF LOF?M@ILMHC_HACG;A?MMJ?=C]=;FFS BOEUIF LOF?M@IL>CMNCHAOMBCHAC@;L?MIOL=?CMN?RNIL<CH;LS BSF


    BMTPEFИOFEJOUIF$POUFOU5ZQF1SPDFTTJOH.PEFMTQFDJИDBUJPO#PUITFUTPGSVMFTSFUVSOB .*.&UZQF Q BTUIFJS
    SFTVMU <.*.&4/*''> Q

    [3;LHCHA %MBLBFI>K:MBO>MA:MMA>KNE>LBGMA>HGM>GM
    0RI>,KH<>LLBG@)H=>ELI><B[<:MBHG;>?HEEHP>=
    >Q:<MER 3A>G:NL>K:@>GMNL>L=BZ>K>GMA>NKBLMB<L?HK<HGM>GMMRI>=>M><MBHGMA:GMA>L>KO>K>QI><ML
    L><NKBMRIKH;E>FL<:GH<<NK "HKFHK>=>M:BEL L>>MA>HGM>GM
    0RI>,KH<>LLBG@)H=>ELI><B[<:MBHG
    7)%)!/*%""8 I

      IGGIH +)CHN?L@;=?M

       .?^?=NCHA=IHN?HN;NNLC<ON?MCH% (;NNLC<ON?M

    4PNF*%-BUUSJCVUFTBSFEFИOFEUP L?^?=N BQBSUJDVMBSDPOUFOUBUUSJCVUF5IJTNFBOTUIBUPOHFUUJOH UIF*%-BUUSJCVUF


    SFUVSOTUIFDVSSFOUWBMVFPGUIFDPOUFOUBUUSJCVUF BOEPOTFUUJOH UIF*%-BUUSJCVUFDIBOHFTUIFWBMVFPGUIFDPOUFOU
    BUUSJCVUFUPUIFHJWFOWBMVF

    *OHFOFSBM POHFUUJOH JGUIFDPOUFOUBUUSJCVUFJTOPUQSFTFOU UIF*%-BUUSJCVUFNVTUBDUBTJGUIFDPOUFOUBUUSJCVUFT


    WBMVFJTUIFFNQUZTUSJOHBOEPOTFUUJOH JGUIFDPOUFOUBUUSJCVUFJTOPUQSFTFOU JUNVTUИSTUCFBEEFE

    *GBSFЙFDUJOH*%-BUUSJCVUFJTB %0.4USJOH BUUSJCVUFXIPTFDPOUFOUBUUSJCVUFJTEFИOFEUPDPOUBJOB 63- Q UIFOPO


    HFUUJOH UIF*%-BUUSJCVUFNVTU SFTPMWF Q UIFWBMVFPGUIFDPOUFOUBUUSJCVUFSFMBUJWFUPUIFFMFNFOUBOESFUVSOUIF
    SFTVMUJOH BCTPMVUF63- Q JGUIBUXBTTVDDFTTGVM PSUIFFNQUZTUSJOHPUIFSXJTFBOEPOTFUUJOH NVTUTFUUIFDPOUFOU
    BUUSJCVUFUPUIFTQFDJИFEMJUFSBMWBMVF*GUIFDPOUFOUBUUSJCVUFJTBCTFOU UIF*%-BUUSJCVUFNVTUSFUVSOUIFEFGBVMUWBMVF
    JGUIFDPOUFOUBUUSJCVUFIBTPOF PSFMTFUIFFNQUZTUSJOH

    *GBSFЙFDUJOH*%-BUUSJCVUFJTB %0.4USJOH BUUSJCVUFXIPTFDPOUFOUBUUSJCVUFJTEFИOFEUPDPOUBJOPOFPSNPSF 63-T Q


    UIFOPOHFUUJOH UIF*%-BUUSJCVUFNVTU TQMJUUIFDPOUFOUBUUSJCVUFPOTQBDFT Q BOESFUVSOUIFDPODBUFOBUJPOPG
    SFTPMWJOH Q FBDIUPLFO63-UPBO BCTPMVUF63- Q SFMBUJWFUPUIFFMFNFOU XJUIBTJOHMF6 41"$&DIBSBDUFS
    CFUXFFOFBDI63- JHOPSJOHBOZUPLFOTUIBUEJEOPUSFTPMWFTVDDFTTGVMMZ*GUIFDPOUFOUBUUSJCVUFJTBCTFOU UIF*%-
    BUUSJCVUFNVTUSFUVSOUIFEFGBVMUWBMVF JGUIFDPOUFOUBUUSJCVUFIBTPOF PSFMTFUIFFNQUZTUSJOH0OTFUUJOH UIF*%-
    BUUSJCVUFNVTUTFUUIFDPOUFOUBUUSJCVUFUPUIFTQFDJИFEMJUFSBMWBMVF

    *GBSFЙFDUJOH*%-BUUSJCVUFJTB %0.4USJOH XIPTFDPOUFOUBUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q BOEUIF*%-BUUSJCVUF


    JT FCGCN?>NIIHFSEHIQHP;FO?M UIFO POHFUUJOH UIF*%-BUUSJCVUFNVTUSFUVSOUIFDPOGPSNJOHWBMVFBTTPDJBUFE
    XJUIUIFTUBUFUIFBUUSJCVUFJTJO JOJUTDBOPOJDBMDBTF
    PSUIFFNQUZTUSJOHJGUIFBUUSJCVUFJTJOBTUBUFUIBUIBTOP
    BTTPDJBUFELFZXPSEWBMVFBOEPOTFUUJOH JGUIFOFXWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSPOFPGUIF
    LFZXPSETHJWFOGPSUIBUBUUSJCVUF UIFOUIFDPOUFOUBUUSJCVUFNVTUCFTFUUPUIFDPOGPSNJOHWBMVFBTTPDJBUFEXJUIUIF
    TUBUFUIBUUIFBUUSJCVUFXPVMECFJOJGTFUUPUIFHJWFOOFXWBMVF PUIFSXJTF JGUIFOFXWBMVFJTUIFFNQUZTUSJOH UIFO
    UIFDPOUFOUBUUSJCVUFNVTUCFSFNPWFE PUIFSXJTF UIFDPOUFOUBUUSJCVUFNVTUCFTFUUPUIFHJWFOOFXWBMVF

    *GBSFЙFDUJOH*%-BUUSJCVUFJTB %0.4USJOH CVUEPFTOUGBMMJOUPBOZPGUIFBCPWFDBUFHPSJFT UIFOUIFHFUUJOHBOE


    TFUUJOHNVTUCFEPOFJOBUSBOTQBSFOU DBTFQSFTFSWJOHNBOOFS

    *GBSFЙFDUJOH*%-BUUSJCVUFJTB CPPMFBO BUUSJCVUF UIFOPOHFUUJOHUIF*%-BUUSJCVUFNVTUSFUVSOUSVFJGUIFDPOUFOU


    BUUSJCVUFJTTFU BOEGBMTFJGJUJTBCTFOU0OTFUUJOH UIFDPOUFOUBUUSJCVUFNVTUCFSFNPWFEJGUIF*%-BUUSJCVUFJTTFUUP
    GBMTF BOENVTUCFTFUUPIBWFUIFTBNFWBMVFBTJUTOBNFJGUIF*%-BUUSJCVUFJTTFUUPUSVF 5IJTDPSSFTQPOETUPUIF
    SVMFTGPS CPPMFBODPOUFOUBUUSJCVUFT Q 

    *GBSFЙFDUJOH*%-BUUSJCVUFJTBTJHOFEJOUFHFSUZQF MPOH
    UIFO POHFUUJOH UIFDPOUFOUBUUSJCVUFNVTUCFQBSTFE
    BDDPSEJOHUPUIF SVMFTGPSQBSTJOHTJHOFEJOUFHFST Q BOEJGUIBUJTTVDDFTTGVM BOEUIFWBMVFJTJOUIFSBOHFPGUIF*%-
    BUUSJCVUFTUZQF UIFSFTVMUJOHWBMVFNVTUCFSFUVSOFE*G POUIFPUIFSIBOE JUGBJMTPSSFUVSOTBOPVUPGSBOHFWBMVF PS

    
    JGUIFBUUSJCVUFJTBCTFOU UIFOUIFEFGBVMUWBMVFNVTUCFSFUVSOFEJOTUFBE PSJGUIFSFJTOPEFGBVMUWBMVF0OTFUUJOH
    UIFHJWFOWBMVFNVTUCFDPOWFSUFEUPUIFTIPSUFTUQPTTJCMFTUSJOHSFQSFTFOUJOHUIFOVNCFSBTB WBMJEJOUFHFS Q BOE
    UIFOUIBUTUSJOHNVTUCFVTFEBTUIFOFXDPOUFOUBUUSJCVUFWBMVF

    *GBSFЙFDUJOH*%-BUUSJCVUFJTBTJHOFEJOUFHFSUZQF MPOH
    UIBUJT FCGCN?>NIIHFSHIH H?A;NCP?HOG<?LM UIFO PO
    HFUUJOH UIFDPOUFOUBUUSJCVUFNVTUCFQBSTFEBDDPSEJOHUPUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q BOEJGUIBUJT
    TVDDFTTGVM BOEUIFWBMVFJTJOUIFSBOHFPGUIF*%-BUUSJCVUFTUZQF UIFSFTVMUJOHWBMVFNVTUCFSFUVSOFE*G POUIF
    PUIFSIBOE JUGBJMTPSSFUVSOTBOPVUPGSBOHFWBMVF PSJGUIFBUUSJCVUFJTBCTFOU UIFEFGBVMUWBMVFNVTUCFSFUVSOFE
    JOTUFBE PSʐJGUIFSFJTOPEFGBVMUWBMVF0OTFUUJOH JGUIFWBMVFJTOFHBUJWF UIFVTFSBHFOUNVTUИSFBO
    */%&9@4*;&@&33 Q FYDFQUJPO0UIFSXJTF UIFHJWFOWBMVFNVTUCFDPOWFSUFEUPUIFTIPSUFTUQPTTJCMFTUSJOH
    SFQSFTFOUJOHUIFOVNCFSBTB WBMJEOPOOFHBUJWFJOUFHFS Q BOEUIFOUIBUTUSJOHNVTUCFVTFEBTUIFOFXDPOUFOU
    BUUSJCVUFWBMVF

    *GBSFЙFDUJOH*%-BUUSJCVUFJTBO D=B86=43 JOUFHFSUZQF VOTJHOFEMPOH


    UIFO POHFUUJOH UIFDPOUFOUBUUSJCVUFNVTU
    CFQBSTFEBDDPSEJOHUPUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q BOEJGUIBUJTTVDDFTTGVM BOEUIFWBMVFJTJOUIF
    SBOHFPGUIF*%-BUUSJCVUFTUZQF UIFSFTVMUJOHWBMVFNVTUCFSFUVSOFE*G POUIFPUIFSIBOE JUGBJMTPSSFUVSOTBOPVUPG
    SBOHFWBMVF PSJGUIFBUUSJCVUFJTBCTFOU UIFEFGBVMUWBMVFNVTUCFSFUVSOFEJOTUFBE PSJGUIFSFJTOPEFGBVMUWBMVF
    0OTFUUJOH UIFHJWFOWBMVFNVTUCFDPOWFSUFEUPUIFTIPSUFTUQPTTJCMFTUSJOHSFQSFTFOUJOHUIFOVNCFSBTB WBMJEOPO
    OFHBUJWFJOUFHFS Q BOEUIFOUIBUTUSJOHNVTUCFVTFEBTUIFOFXDPOUFOUBUUSJCVUFWBMVF

    *GBSFЙFDUJOH*%-BUUSJCVUFJTBOVOTJHOFEJOUFHFSUZQF VOTJHOFEMPOH
    UIBUJT FCGCN?>NIIHFSHIH H?A;NCP?
    HOG<?LMAL?;N?LNB;HT?LI UIFOUIFCFIBWJPSJTTJNJMBSUPUIFQSFWJPVTDBTF CVU[FSPJTOPUBMMPXFE0OHFUUJOH
    UIFDPOUFOUBUUSJCVUFNVTUИSTUCFQBSTFEBDDPSEJOHUPUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q BOEJGUIBUJT
    TVDDFTTGVM BOEUIFWBMVFJTJOUIFSBOHFPGUIF*%-BUUSJCVUFTUZQF UIFSFTVMUJOHWBMVFNVTUCFSFUVSOFE*G POUIF
    PUIFSIBOE JUGBJMTPSSFUVSOTBOPVUPGSBOHFWBMVF PSJGUIFBUUSJCVUFJTBCTFOU UIFEFGBVMUWBMVFNVTUCFSFUVSOFE
    JOTUFBE PSJGUIFSFJTOPEFGBVMUWBMVF0OTFUUJOH JGUIFWBMVFJT[FSP UIFVTFSBHFOUNVTUИSFBO */%&9@4*;&@&33 Q
    FYDFQUJPO0UIFSXJTF UIFHJWFOWBMVFNVTUCFDPOWFSUFEUPUIFTIPSUFTUQPTTJCMFTUSJOHSFQSFTFOUJOHUIFOVNCFSBTB
    WBMJEOPOOFHBUJWFJOUFHFS Q BOEUIFOUIBUTUSJOHNVTUCFVTFEBTUIFOFXDPOUFOUBUUSJCVUFWBMVF

    *GBSFЙFDUJOH*%-BUUSJCVUFJTBЙPBUJOHQPJOUOVNCFSUZQF GMPBU
    UIFO POHFUUJOH UIFDPOUFOUBUUSJCVUFNVTUCF
    QBSTFEBDDPSEJOHUPUIF SVMFTGPSQBSTJOHЙPBUJOHQPJOUOVNCFSWBMVFT Q BOEJGUIBUJTTVDDFTTGVM UIFSFTVMUJOHWBMVF
    NVTUCFSFUVSOFE*G POUIFPUIFSIBOE JUGBJMT PSJGUIFBUUSJCVUFJTBCTFOU UIFEFGBVMUWBMVFNVTUCFSFUVSOFE
    JOTUFBE PSJGUIFSFJTOPEFGBVMUWBMVF0OTFUUJOH UIFHJWFOWBMVFNVTUCFDPOWFSUFEUPUIF CFTUSFQSFTFOUBUJPOPG
    UIFOVNCFSBTBЙPBUJOHQPJOUOVNCFS Q BOEUIFOUIBUTUSJOHNVTUCFVTFEBTUIFOFXDPOUFOUBUUSJCVUFWBMVF

    *HM> 0A>O:EN>L%G[GBMR:G=*HM
    :
    *NF;>K*:*O:EN>LMAKHP:G>Q<>IMBHGHGL>MMBG@ :L
    =>[G>=>:KEB>K I

    *GBSFЙFDUJOH*%-BUUSJCVUFJTPGUIFUZQF %0.5PLFO-JTU Q PS %0.4FUUBCMF5PLFO-JTU Q UIFOPOHFUUJOHJUNVTUSFUVSO


    B %0.5PLFO-JTU Q PS %0.4FUUBCMF5PLFO-JTU Q PCKFDU BTBQQSPQSJBUF
    XIPTFVOEFSMZJOHTUSJOHJTUIFFMFNFOUT
    DPSSFTQPOEJOHDPOUFOUBUUSJCVUF8IFOUIFPCKFDUNVUBUFTJUTVOEFSMZJOHTUSJOH UIFDPOUFOUBUUSJCVUFNVTUJUTFMGCF
    JNNFEJBUFMZNVUBUFE8IFOUIFBUUSJCVUFJTBCTFOU UIFOUIFTUSJOHSFQSFTFOUFECZUIFPCKFDUJTUIFFNQUZTUSJOH
    XIFOUIFPCKFDUNVUBUFTUIJTFNQUZTUSJOH UIFVTFSBHFOUNVTUBEEUIFDPSSFTQPOEJOHDPOUFOUBUUSJCVUF XJUIJUT
    WBMVFTFUUPUIFWBMVFJUXPVMEIBWFCFFOTFUUPBGUFSNVUBUJOHUIFFNQUZTUSJOH5IFTBNF %0.5PLFO-JTU Q PS
    %0.4FUUBCMF5PLFO-JTU Q PCKFDUNVTUCFSFUVSOFEFWFSZUJNFGPSFBDIBUUSJCVUF

    *GBOFMFNFOUXJUIOPBUUSJCVUFTIBTJUT FMFNFOUDMBTT-JTUSFNPWF
    Q NFUIPEJOWPLFE UIFVOEFSMZJOHTUSJOH
    XPOUCFDIBOHFE TJODFUIFSFTVMUPGSFNPWJOHBOZUPLFOGSPNUIFFNQUZTUSJOHJTTUJMMUIFFNQUZTUSJOH
    )PXFWFS JGUIF FMFNFOUDMBTT-JTUBEE
    Q NFUIPEJTUIFOJOWPLFE B DMBTT Q BUUSJCVUFXJMMCFBEEFEUPUIF
    FMFNFOUXJUIUIFWBMVFPGUIFUPLFOUPCFBEEFE

    *GBSFЙFDUJOH*%-BUUSJCVUFIBTUIFUZQF )5.-&MFNFOU Q PSBOJOUFSGBDFUIBUEFTDFOETGSPN )5.-&MFNFOU Q UIFO PO


    HFUUJOH JUNVTUSVOUIFGPMMPXJOHBMHPSJUIN TUPQQJOHBUUIFИSTUQPJOUXIFSFBWBMVFJTSFUVSOFE
    

     *GUIFDPSSFTQPOEJOHDPOUFOUBUUSJCVUFJTBCTFOU UIFOUIF*%-BUUSJCVUFNVTUSFUVSOOVMM

     -FU 20=3830C4 CFUIFFMFNFOUUIBUUIF EPDVNFOUHFU&MFNFOU#Z*E


    Q NFUIPEXPVMEИOEXIFODBMMFEPO
    UIFDPOUFOUBUUSJCVUFTEPDVNFOUJGJUXBTQBTTFEBTJUTBSHVNFOUUIFDVSSFOUWBMVFPGUIFDPSSFTQPOEJOH
    DPOUFOUBUUSJCVUF

     *G 20=3830C4 JTOVMM PSJGJUJTOPUUZQFDPNQBUJCMFXJUIUIF*%-BUUSJCVUF UIFOUIF*%-BUUSJCVUFNVTUSFUVSO


    OVMM

     0UIFSXJTF JUNVTUSFUVSO 20=3830C4

    0OTFUUJOH JGUIFHJWFOFMFNFOUIBTBO JE Q BUUSJCVUF UIFOUIFDPOUFOUBUUSJCVUFNVTUCFTFUUPUIFWBMVFPGUIBU JE Q


    BUUSJCVUF0UIFSXJTF UIF*%-BUUSJCVUFNVTUCFTFUUPUIFFNQUZTUSJOH

    
       IFF?=NCIHM

    5IF )5.-$PMMFDUJPO Q )5.-"MM$PMMFDUJPO Q )5.-'PSN$POUSPMT$PMMFDUJPO Q )5.-0QUJPOT$PMMFDUJPO Q BOE
    )5.-1SPQFSUJFT$PMMFDUJPO Q JOUFSGBDFTSFQSFTFOUWBSJPVTMJTUTPG%0.OPEFT$PMMFDUJWFMZ PCKFDUTJNQMFNFOUJOH
    UIFTFJOUFSGBDFTBSFDBMMFE =IFF?=NCIHM

    8IFOB DPMMFDUJPO Q JTDSFBUFE BИMUFSBOEBSPPUBSFBTTPDJBUFEXJUIUIFDPMMFDUJPO

    'PSFYBNQMF XIFOUIF )5.-$PMMFDUJPO Q PCKFDUGPSUIF EPDVNFOUJNBHFT Q BUUSJCVUFJTDSFBUFE JUJT


    BTTPDJBUFEXJUIBИMUFSUIBUTFMFDUTPOMZ JNH Q FMFNFOUT BOESPPUFEBUUIFSPPUPGUIFEPDVNFOU

    5IF DPMMFDUJPO Q UIFO L?JL?M?HNM B MJWF Q WJFXPGUIFTVCUSFFSPPUFEBUUIFDPMMFDUJPOTSPPU DPOUBJOJOHPOMZOPEFT


    UIBUNBUDIUIFHJWFOИMUFS5IFWJFXJTMJOFBS *OUIFBCTFODFPGTQFDJИDSFRVJSFNFOUTUPUIFDPOUSBSZ UIFOPEFTXJUIJO
    UIFDPMMFDUJPONVTUCFTPSUFEJO USFFPSEFS Q 

    *HM> 0A> KHPL I EBLMBLGHMBGMK>>HK=>K

    "OBUUSJCVUFUIBUSFUVSOTBDPMMFDUJPONVTUSFUVSOUIFTBNFPCKFDUFWFSZUJNFJUJTSFUSJFWFE

        $0)(IFF?=NCIH

    5IF )5.-$PMMFDUJPO Q JOUFSGBDFSFQSFTFOUTBHFOFSJD DPMMFDUJPO Q PGFMFNFOUT

    JOUFSGBDF &2+*!JGG@>ODJI \
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH MFOHUI
    DBMMFSHFUUFSPCKFDU JUFN JOVOTJHOFEMPOHJOEFY
    POMZSFUVSOT&MFNFOU
    DBMMFSHFUUFSPCKFDU OBNFE*UFN JO%0.4USJOHOBNF
    POMZSFUVSOT&MFNFOU
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <HEE><MBHG G@IBOC K
    3FUVSOTUIFOVNCFSPGFMFNFOUTJOUIFDPMMFDUJPO

    >E>F>GM  <HEE><MBHG DO@H K BG=>Q


    <HEE><MBHG7BG=>Q8
    <HEE><MBHGBG=>Q
    3FUVSOTUIFJUFNXJUIJOEFY 8=34G GSPNUIFDPMMFDUJPO5IFJUFNTBSFTPSUFEJO USFFPSEFS Q 
    3FUVSOTOVMMJG 8=34G JTPVUPGSBOHF

    >E>F>GM  <HEE><MBHG I<H@?'O@H K G:F>


    <HEE><MBHG7G:F>8
    <HEE><MBHGG:F>
    3FUVSOTUIFИSTUJUFNXJUI *% Q PSOBNF =0<4 GSPNUIFDPMMFDUJPO
    3FUVSOTOVMMJGOPFMFNFOUXJUIUIBU *% Q PSOBNFDPVMECFGPVOE
    0OMZ B Q BQQMFU Q BSFB Q FNCFE Q GPSN Q GSBNF Q GSBNFTFU Q JGSBNF Q JNH Q BOE
    PCKFDU Q FMFNFOUTDBOIBWFBOBNFGPSUIFQVSQPTFPGUIJTNFUIPEUIFJSOBNFJTHJWFOCZUIFWBMVFPG
    UIFJS OBNF BUUSJCVUF

    5IFPCKFDUT JOEJDFTPGUIFTVQQPSUFEJOEFYFEQSPQFSUJFT BSFUIFOVNCFSTJOUIFSBOHF[FSPUPPOFMFTTUIBOUIF


    OVNCFSPGOPEFT SFQSFTFOUFECZUIFDPMMFDUJPO Q *GUIFSFBSFOPTVDIFMFNFOUT UIFOUIFSFBSFOP TVQQPSUFEJOEFYFE
    QSPQFSUJFT

    5IF G@IBOC BUUSJCVUFNVTUSFUVSOUIFOVNCFSPGOPEFT SFQSFTFOUFECZUIFDPMMFDUJPO Q 

    5IF DO@HBG=>Q NFUIPENVTUSFUVSOUIF 8=34GUIOPEFJOUIFDPMMFDUJPO*GUIFSFJTOP 8=34GUIOPEFJOUIFDPMMFDUJPO


    UIFOUIFNFUIPENVTUSFUVSOOVMM

    5IF OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT DPOTJTUPGUIFWBMVFTPGUIF OBNF BUUSJCVUFTPGFBDI B Q BQQMFU Q


    BSFB Q FNCFE Q GPSN Q GSBNF Q GSBNFTFU Q JGSBNF Q JNH Q BOE PCKFDU Q FMFNFOU SFQSFTFOUFECZUIF
    DPMMFDUJPO Q XJUIB OBNF BUUSJCVUF QMVTUIFMJTUPG*%TUIBUUIFFMFNFOUT SFQSFTFOUFECZUIFDPMMFDUJPO Q IBWF

    
    5IF I<H@?'O@HD>R NFUIPENVTUSFUVSOUIFИSTUOPEFJOUIFDPMMFDUJPOUIBUNBUDIFTUIFGPMMPXJOHSFRVJSFNFOUT

    Ǭ *UJTBO B Q BQQMFU Q BSFB Q FNCFE Q GPSN Q GSBNF Q GSBNFTFU Q JGSBNF Q JNH Q PS
    PCKFDU Q FMFNFOUXJUIB OBNF BUUSJCVUFFRVBMUP :4H PS

    Ǭ *UJTBOFMFNFOUXJUIBO *% Q FRVBMUP :4H

    *GOPTVDIFMFNFOUTBSFGPVOE UIFOUIFNFUIPENVTUSFUVSOOVMM

        $0)(FFIFF?=NCIH

    5IF )5.-"MM$PMMFDUJPO Q JOUFSGBDFSFQSFTFOUTBHFOFSJD DPMMFDUJPO Q PGFMFNFOUTKVTUMJLF )5.-$PMMFDUJPO Q XJUI
    UIFFYDFQUJPOUIBUJUT OBNFE*UFN
    Q NFUIPESFUVSOTBO )5.-$PMMFDUJPO Q PCKFDUXIFOUIFSFBSFNVMUJQMFNBUDIJOH
    FMFNFOUT

    JOUFSGBDF &2+*GG!JGG@>ODJI  )5.-$PMMFDUJPO \


    JOIFSJUT MFOHUI BOE JUFN

    DBMMFSHFUUFSPCKFDU OBNFE*UFN JO%0.4USJOHOBNF


    PWFSSJEFTJOIFSJUFEOBNFE*UFN

    )5.-"MM$PMMFDUJPO UBHT JO%0.4USJOHUBH/BNF


    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <HEE><MBHG G@IBOC K
    3FUVSOTUIFOVNCFSPGFMFNFOUTJOUIFDPMMFDUJPO

    >E>F>GM  <HEE><MBHG DO@H K BG=>Q


    <HEE><MBHG7BG=>Q8
    <HEE><MBHGBG=>Q
    3FUVSOTUIFJUFNXJUIJOEFY 8=34G GSPNUIFDPMMFDUJPO5IFJUFNTBSFTPSUFEJO USFFPSEFS Q 
    3FUVSOTOVMMJG 8=34G JTPVUPGSBOHF

    >E>F>GM  <HEE><MBHG I<H@?'O@H K G:F>


    <HEE><MBHG  <HEE><MBHG I<H@?'O@H K G:F>
    <HEE><MBHG7G:F>8
    <HEE><MBHGG:F>
    3FUVSOTUIFJUFNXJUI *% Q PSOBNF =0<4 GSPNUIFDPMMFDUJPO
    *GUIFSFBSFNVMUJQMFNBUDIJOHJUFNT UIFOBO )5.-"MM$PMMFDUJPO Q PCKFDUDPOUBJOJOHBMMUIPTFFMFNFOUT
    JTSFUVSOFE
    3FUVSOTOVMMJGOPFMFNFOUXJUIUIBU *% Q PSOBNFDPVMECFGPVOE
    0OMZ B Q BQQMFU Q BSFB Q FNCFE Q GPSN Q GSBNF Q GSBNFTFU Q JGSBNF Q JNH Q BOE
    PCKFDU Q FMFNFOUTDBOIBWFBOBNFGPSUIFQVSQPTFPGUIJTNFUIPEUIFJSOBNFJTHJWFOCZUIFWBMVFPG
    UIFJS OBNF BUUSJCVUF

    <HEE><MBHG  <HEE><MBHG O<BN K M:@*:F>


    3FUVSOTBDPMMFDUJPOUIBUJTBИMUFSFEWJFXPGUIFDVSSFOUDPMMFDUJPO DPOUBJOJOHPOMZFMFNFOUTXJUIUIFHJWFO
    UBHOBNF

    5IFPCKFDUT JOEJDFTPGUIFTVQQPSUFEJOEFYFEQSPQFSUJFT BOE OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT BSFBTEFИOFE


    GPS )5.-$PMMFDUJPO Q PCKFDUT

    5IF I<H@?'O@HD>R NFUIPENVTUBDUBDDPSEJOHUPUIFGPMMPXJOHBMHPSJUIN

     -FU 2>;;42C8>= CFBO )5.-"MM$PMMFDUJPO Q PCKFDUSPPUFEBUUIFTBNFOPEFBTUIF )5.-"MM$PMMFDUJPO Q


    PCKFDUPOXIJDIUIFNFUIPEXBTJOWPLFE XIPTFИMUFSNBUDIFTPOMZPOMZFMFNFOUTUIBUBMSFBEZNBUDIUIF
    ИMUFSPGUIF )5.-"MM$PMMFDUJPO Q PCKFDUPOXIJDIUIFNFUIPEXBTJOWPLFEBOEUIBUBSFFJUIFS

    Ǭ B Q BQQMFU Q BSFB Q FNCFE Q GPSN Q GSBNF Q GSBNFTFU Q JGSBNF Q JNH Q PS
    PCKFDU Q FMFNFOUTXJUIB OBNF BUUSJCVUFFRVBMUP :4H PS

    Ǭ FMFNFOUTXJUIBO *% Q FRVBMUP :4H

    
     *G BUUIFUJNFUIFNFUIPEJTDBMMFE UIFSFJTFYBDUMZPOFOPEFJO 2>;;42C8>= UIFOSFUVSOUIBUOPEFBOETUPQ
    UIFBMHPSJUIN

     0UIFSXJTF JG BUUIFUJNFUIFNFUIPEJTDBMMFE 2>;;42C8>= JTFNQUZ SFUVSOOVMMBOETUPQUIFBMHPSJUIN

     0UIFSXJTF SFUVSO 2>;;42C8>=

    5IF O<BNM:@,:F> NFUIPENVTUSFUVSOBO )5.-"MM$PMMFDUJPO Q SPPUFEBUUIFTBNFOPEFBTUIF


    )5.-"MM$PMMFDUJPO Q PCKFDUPOXIJDIUIFNFUIPEXBTJOWPLFE XIPTFИMUFSNBUDIFTPOMZ )5.-FMFNFOUT Q XIPTF
    MPDBMOBNFJTUIF C06$0<4 BSHVNFOUBOEUIBUBMSFBEZNBUDIUIFИMUFSPGUIF )5.-"MM$PMMFDUJPO Q PCKFDUPOXIJDI
    UIFNFUIPEXBTJOWPLFE*O )5.-EPDVNFOUT Q UIFBSHVNFOUNVTUИSTUCF DPOWFSUFEUP"4$**MPXFSDBTF Q 

        $0)("ILGIHNLIFMIFF?=NCIH

    5IF )5.-'PSN$POUSPMT$PMMFDUJPO Q JOUFSGBDFSFQSFTFOUTB DPMMFDUJPO Q PG MJTUFEFMFNFOUT Q JO GPSN Q BOE
    GJFMETFU Q FMFNFOUT

    JOUFSGBDF &2+*$JMH!JIOMJGN!JGG@>ODJI  )5.-$PMMFDUJPO \


    JOIFSJUT MFOHUI BOE JUFN

    DBMMFSHFUUFSPCKFDU OBNFE*UFN JO%0.4USJOHOBNF


    PWFSSJEFTJOIFSJUFEOBNFE*UFN

    ^

    JOUFSGBDF 0<?DJ,J?@*DNO  /PEF-JTU \


    BUUSJCVUF%0.4USJOH WBMVF
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <HEE><MBHG G@IBOC K
    3FUVSOTUIFOVNCFSPGFMFNFOUTJOUIFDPMMFDUJPO

    >E>F>GM  <HEE><MBHG DO@H K BG=>Q


    <HEE><MBHG7BG=>Q8
    <HEE><MBHGBG=>Q
    3FUVSOTUIFJUFNXJUIJOEFY 8=34G GSPNUIFDPMMFDUJPO5IFJUFNTBSFTPSUFEJO USFFPSEFS Q 
    3FUVSOTOVMMJG 8=34G JTPVUPGSBOHF

    >E>F>GM  <HEE><MBHG I<H@?'O@H K G:F>


    K:=BH*H=>(BLM  <HEE><MBHG I<H@?'O@H K G:F>
    <HEE><MBHG7G:F>8
    <HEE><MBHGG:F>
    3FUVSOTUIFJUFNXJUI *% Q PS OBNF Q =0<4 GSPNUIFDPMMFDUJPO
    *GUIFSFBSFNVMUJQMFNBUDIJOHJUFNT UIFOB 3BEJP/PEF-JTU Q PCKFDUDPOUBJOJOHBMMUIPTFFMFNFOUTJT
    SFUVSOFE
    3FUVSOTOVMMJGOPFMFNFOUXJUIUIBU *% Q PS OBNF Q DPVMECFGPVOE

    K:=BH*H=>(BLM O:EN> 7 O:EN> 8


    3FUVSOTUIFWBMVFPGUIFИSTUDIFDLFESBEJPCVUUPOSFQSFTFOUFECZUIFPCKFDU
    $BOCFTFU UPDIFDLUIFИSTUSBEJPCVUUPOXJUIUIFHJWFOWBMVFSFQSFTFOUFECZUIFPCKFDU

    5IFPCKFDUT JOEJDFTPGUIFTVQQPSUFEJOEFYFEQSPQFSUJFT BSFBTEFИOFEGPS )5.-$PMMFDUJPO Q PCKFDUT

    5IF OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT DPOTJTUPGUIFWBMVFTPGBMMUIF JE Q BOE OBNF Q BUUSJCVUFTPGBMMUIF


    FMFNFOUT SFQSFTFOUFECZUIFDPMMFDUJPO Q 

    5IF I<H@?'O@HG:F> NFUIPENVTUBDUBDDPSEJOHUPUIFGPMMPXJOHBMHPSJUIN

     *G BUUIFUJNFUIFNFUIPEJTDBMMFE UIFSFJTFYBDUMZPOFOPEFJOUIFDPMMFDUJPOUIBUIBTFJUIFSBO JE Q


    BUUSJCVUFPSB OBNF Q BUUSJCVUFFRVBMUP =0<4 UIFOSFUVSOUIBUOPEFBOETUPQUIFBMHPSJUIN

    
     0UIFSXJTF JGUIFSFBSFOPOPEFTJOUIFDPMMFDUJPOUIBUIBWFFJUIFSBO JE Q BUUSJCVUFPSB OBNF Q BUUSJCVUF
    FRVBMUP =0<4 UIFOSFUVSOOVMMBOETUPQUIFBMHPSJUIN

     0UIFSXJTF DSFBUFBOFX 3BEJP/PEF-JTU Q PCKFDUSFQSFTFOUJOHB MJWF Q WJFXPGUIF


    )5.-'PSN$POUSPMT$PMMFDUJPO Q PCKFDU GVSUIFSИMUFSFETPUIBUUIFPOMZOPEFTJOUIF 3BEJP/PEF-JTU Q
    PCKFDUBSFUIPTFUIBUIBWFFJUIFSBO JE Q BUUSJCVUFPSB OBNF Q BUUSJCVUFFRVBMUP =0<45IFOPEFTJOUIF
    3BEJP/PEF-JTU Q PCKFDUNVTUCFTPSUFEJO USFFPSEFS Q 

     3FUVSOUIBU 3BEJP/PEF-JTU Q PCKFDU

    .FNCFSTPGUIF 3BEJP/PEF-JTU Q JOUFSGBDFJOIFSJUFEGSPNUIF /PEF-JTU Q JOUFSGBDFNVTUCFIBWFBTUIFZXPVMEPOB


    /PEF-JTU Q PCKFDU

    5IF Q<GP@ *%-BUUSJCVUFPOUIF 3BEJP/PEF-JTU Q PCKFDU POHFUUJOH NVTUSFUVSOUIFWBMVFSFUVSOFECZSVOOJOHUIF


    GPMMPXJOHTUFQT

     -FU 4;4<4=C CFUIFИSTUFMFNFOUJO USFFPSEFS Q SFQSFTFOUFECZUIF 3BEJP/PEF-JTU Q PCKFDUUIBUJTBO


    JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 3BEJP#VUUPO Q TUBUFBOEXIPTF DIFDLFEOFTT Q JT
    USVF0UIFSXJTF MFUJUCFOVMM

     *G 4;4<4=C JTOVMM PSJGJUJTBOFMFNFOUXJUIOP WBMVF Q BUUSJCVUF SFUVSOUIFFNQUZTUSJOH

     0UIFSXJTF SFUVSOUIFWBMVFPG 4;4<4=CT WBMVF Q BUUSJCVUF

    0OTFUUJOH UIF WBMVF Q *%-BUUSJCVUFNVTUSVOUIFGPMMPXJOHTUFQT

     -FU 4;4<4=C CFUIFИSTUFMFNFOUJO USFFPSEFS Q SFQSFTFOUFECZUIF 3BEJP/PEF-JTU Q PCKFDUUIBUJTBO


    JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 3BEJP#VUUPO Q TUBUFBOEXIPTF WBMVF Q DPOUFOU
    BUUSJCVUFJTQSFTFOUBOEFRVBMUPUIFOFXWBMVF JGBOZ0UIFSXJTF MFUJUCFOVMM

     *G 4;4<4=C JTOPUOVMM UIFOTFUJUT DIFDLFEOFTT Q UPUSVF

        $0)(+JNCIHMIFF?=NCIH

    5IF )5.-0QUJPOT$PMMFDUJPO Q JOUFSGBDFSFQSFTFOUTBMJTUPG PQUJPO Q FMFNFOUT*UJTBMXBZTSPPUFEPOB TFMFDU Q


    FMFNFOUBOEIBTBUUSJCVUFTBOENFUIPETUIBUNBOJQVMBUFUIBUFMFNFOUTEFTDFOEBOUT

    JOUFSGBDF &2+*-KODJIN!JGG@>ODJI  )5.-$PMMFDUJPO \


    JOIFSJUT JUFN

    BUUSJCVUFVOTJHOFEMPOH MFOHUIPWFSSJEFTJOIFSJUFEMFOHUI
    DBMMFSHFUUFSPCKFDU OBNFE*UFN JO%0.4USJOHOBNF
    PWFSSJEFTJOIFSJUFEOBNFE*UFN

    WPJE BEE JO )5.-&MFNFOU FMFNFOU JOPQUJPOBM )5.-&MFNFOU CFGPSF


    
    WPJE BEE JO )5.-&MFNFOU FMFNFOU JOMPOHCFGPSF
    
    WPJE SFNPWF JOMPOHJOEFY
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    <HEE><MBHG G@IBOC 7 O:EN> 8
    3FUVSOTUIFOVNCFSPGFMFNFOUTJOUIFDPMMFDUJPO
    8IFOTFUUPBTNBMMFSOVNCFS USVODBUFTUIFOVNCFSPG PQUJPO Q FMFNFOUTJOUIFDPSSFTQPOEJOH
    DPOUBJOFS
    8IFOTFUUPBHSFBUFSOVNCFS BEETOFXCMBOL PQUJPO Q FMFNFOUTUPUIBUDPOUBJOFS

    >E>F>GM  <HEE><MBHG DO@H K BG=>Q


    <HEE><MBHG7BG=>Q8
    <HEE><MBHGBG=>Q
    3FUVSOTUIFJUFNXJUIJOEFY 8=34G GSPNUIFDPMMFDUJPO5IFJUFNTBSFTPSUFEJO USFFPSEFS Q 
    3FUVSOTOVMMJG 8=34G JTPVUPGSBOHF

    
    >E>F>GM  <HEE><MBHG I<H@?'O@H K G:F>
    GH=>(BLM  <HEE><MBHG I<H@?'O@H K G:F>
    <HEE><MBHG7G:F>8
    <HEE><MBHGG:F>
    3FUVSOTUIFJUFNXJUI *% Q PS OBNF Q =0<4 GSPNUIFDPMMFDUJPO
    *GUIFSFBSFNVMUJQMFNBUDIJOHJUFNT UIFOB /PEF-JTU Q PCKFDUDPOUBJOJOHBMMUIPTFFMFNFOUTJTSFUVSOFE
    3FUVSOTOVMMJGOPFMFNFOUXJUIUIBU *% Q DPVMECFGPVOE

    <HEE><MBHG <?? K >E>F>GM 7


    ;>?HK> 8
    *OTFSUT 4;4<4=C CFGPSFUIFOPEFHJWFOCZ 145>A4
    5IF 145>A4 BSHVNFOUDBOCFBOVNCFS JOXIJDIDBTF 4;4<4=C JTJOTFSUFECFGPSFUIFJUFNXJUIUIBU
    OVNCFS PSBOFMFNFOUGSPNUIFDPMMFDUJPO JOXIJDIDBTF 4;4<4=C JTJOTFSUFECFGPSFUIBUFMFNFOU
    *G 145>A4 JTPNJUUFE OVMM PSBOVNCFSPVUPGSBOHF UIFO 4;4<4=C XJMMCFBEEFEBUUIFFOEPGUIFMJTU
    5IJTNFUIPEXJMMUISPXB )*&3"3$):@3&26&45@&33 Q FYDFQUJPOJG 4;4<4=C JTBOBODFTUPSPGUIFFMFNFOU
    JOUPXIJDIJUJTUPCFJOTFSUFE*G 4;4<4=C JTOPUBO PQUJPO Q PS PQUHSPVQ Q FMFNFOU UIFOUIFNFUIPE
    EPFTOPUIJOH

    5IFPCKFDUT JOEJDFTPGUIFTVQQPSUFEJOEFYFEQSPQFSUJFT BSFBTEFИOFEGPS )5.-$PMMFDUJPO Q PCKFDUT

    0OHFUUJOH UIF G@IBOC BUUSJCVUFNVTUSFUVSOUIFOVNCFSPGOPEFT SFQSFTFOUFECZUIFDPMMFDUJPO Q 

    0OTFUUJOH UIFCFIBWJPSEFQFOETPOXIFUIFSUIFOFXWBMVFJTFRVBMUP HSFBUFSUIBO PSMFTTUIBOUIFOVNCFSPG


    OPEFT SFQSFTFOUFECZUIFDPMMFDUJPO Q BUUIBUUJNF*GUIFOVNCFSJTUIFTBNF UIFOTFUUJOHUIFBUUSJCVUFNVTUEP
    OPUIJOH*GUIFOFXWBMVFJTHSFBUFS UIFO = OFX PQUJPO Q FMFNFOUTXJUIOPBUUSJCVUFTBOEOPDIJMEOPEFTNVTUCF
    BQQFOEFEUPUIF TFMFDU Q FMFNFOUPOXIJDIUIF )5.-0QUJPOT$PMMFDUJPO Q JTSPPUFE XIFSF = JTUIFEJЗFSFODF
    CFUXFFOUIFUXPOVNCFST OFXWBMVFNJOVTPMEWBMVF
    .VUBUJPOFWFOUTNVTUCFИSFEBTJGB %PDVNFOU'SBHNFOU Q
    DPOUBJOJOHUIFOFX PQUJPO Q FMFNFOUTIBECFFOJOTFSUFE*GUIFOFXWBMVFJTMPXFS UIFOUIFMBTU = OPEFTJOUIF
    DPMMFDUJPONVTUCFSFNPWFEGSPNUIFJSQBSFOUOPEFT XIFSF = JTUIFEJЗFSFODFCFUXFFOUIFUXPOVNCFST PMEWBMVF
    NJOVTOFXWBMVF
    

    *HM> />MMBG@ E>G@MA I G>O>KK>FHO>LHK:==L:GR HIM@KHNI I >E>F>GML :G=G>O>K:==LG>P


    <ABE=K>GMH>QBLMBG@ HIM@KHNI I >E>F>GMLMAHN@ABM<:GK>FHO><ABE=K>G?KHFMA>F

    5IF OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT DPOTJTUPGUIFWBMVFTPGBMMUIF JE Q BOE OBNF Q BUUSJCVUFTPGBMMUIF


    FMFNFOUT SFQSFTFOUFECZUIFDPMMFDUJPO Q 

    5IF I<H@?'O@HG:F> NFUIPENVTUBDUBDDPSEJOHUPUIFGPMMPXJOHBMHPSJUIN

     *G BUUIFUJNFUIFNFUIPEJTDBMMFE UIFSFJTFYBDUMZPOFOPEFJOUIFDPMMFDUJPOUIBUIBTFJUIFSBO JE Q


    BUUSJCVUFPSB OBNF Q BUUSJCVUFFRVBMUP =0<4 UIFOSFUVSOUIBUOPEFBOETUPQUIFBMHPSJUIN

     0UIFSXJTF JGUIFSFBSFOPOPEFTJOUIFDPMMFDUJPOUIBUIBWFFJUIFSBO JE Q BUUSJCVUFPSB OBNF Q BUUSJCVUF


    FRVBMUP =0<4 UIFOSFUVSOOVMMBOETUPQUIFBMHPSJUIN

     0UIFSXJTF DSFBUFBOFX /PEF-JTU Q PCKFDUSFQSFTFOUJOHB MJWF Q WJFXPGUIF )5.-0QUJPOT$PMMFDUJPO Q
    PCKFDU GVSUIFSИMUFSFETPUIBUUIFPOMZOPEFTJOUIF /PEF-JTU Q PCKFDUBSFUIPTFUIBUIBWFFJUIFSBO JE Q
    BUUSJCVUFPSB OBNF Q BUUSJCVUFFRVBMUP =0<45IFOPEFTJOUIF /PEF-JTU Q PCKFDUNVTUCFTPSUFEJO USFF
    PSEFS Q 

     3FUVSOUIBU /PEF-JTU Q PCKFDU

    5IF <??>E>F>GM ;>?HK> NFUIPENVTUBDUBDDPSEJOHUPUIFGPMMPXJOHBMHPSJUIN

     *G 4;4<4=C JTOPUBO PQUJPO Q PS PQUHSPVQ Q FMFNFOU UIFOSFUVSOBOEBCPSUUIFTFTUFQT

     *G 4;4<4=C JTBOBODFTUPSPGUIF TFMFDU Q FMFNFOUPOXIJDIUIF )5.-0QUJPOT$PMMFDUJPO Q JTSPPUFE UIFO


    UISPXB )*&3"3$):@3&26&45@&33 Q FYDFQUJPO

     *G 145>A4 JTBOFMFNFOU CVUUIBUFMFNFOUJTOUBEFTDFOEBOUPGUIF TFMFDU Q FMFNFOUPOXIJDIUIF


    )5.-0QUJPOT$PMMFDUJPO Q JTSPPUFE UIFOUISPXB /05@'06/%@&33 Q FYDFQUJPO

     *G 4;4<4=C BOE 145>A4 BSFUIFTBNFFMFNFOU UIFOSFUVSOBOEBCPSUUIFTFTUFQT

    
     *G 145>A4 JTBOPEF UIFOMFU A454A4=24 CFUIBUOPEF0UIFSXJTF JG 145>A4 JTBOJOUFHFS BOEUIFSFJTB 145>A4UI
    OPEFJOUIFDPMMFDUJPO MFU A454A4=24 CFUIBUOPEF0UIFSXJTF MFU A454A4=24 CFOVMM

     *G A454A4=24 JTOPUOVMM MFU ?0A4=C CFUIFQBSFOUOPEFPG A454A4=240UIFSXJTF MFU ?0A4=C CFUIF TFMFDU Q
    FMFNFOUPOXIJDIUIF )5.-0QUJPOT$PMMFDUJPO Q JTSPPUFE

     "DUBTJGUIF%0.$PSF JOTFSU#FGPSF
    Q NFUIPEXBTJOWPLFEPOUIF ?0A4=C OPEF XJUI 4;4<4=C BTUIFИSTU
    BSHVNFOUBOE A454A4=24 BTUIFTFDPOEBSHVNFOU

    5IF M@HJQ@BG=>Q NFUIPENVTUBDUBDDPSEJOHUPUIFGPMMPXJOHBMHPSJUIN

     *GUIFOVNCFSPGOPEFT SFQSFTFOUFECZUIFDPMMFDUJPO Q JT[FSP BCPSUUIFTFTUFQT

     *G 8=34G JTOPUBOVNCFSHSFBUFSUIBOPSFRVBMUPBOEMFTTUIBOUIFOVNCFSPGOPEFT SFQSFTFOUFECZUIF


    DPMMFDUJPO Q MFU 4;4<4=C CFUIFИSTUFMFNFOUJOUIFDPMMFDUJPO0UIFSXJTF MFU 4;4<4=C CFUIF 8=34GUI
    FMFNFOUJOUIFDPMMFDUJPO

     3FNPWF 4;4<4=C GSPNJUTQBSFOUOPEF

        $0)(,LIJ?LNC?MIFF?=NCIH

    5IF )5.-1SPQFSUJFT$PMMFDUJPO Q JOUFSGBDFSFQSFTFOUTB DPMMFDUJPO Q PGFMFNFOUTUIBUBEEOBNFWBMVFQBJSTUPB


    QBSUJDVMBS JUFN Q JOUIF NJDSPEBUB Q NPEFM

    JOUFSGBDF &2+*.MJK@MOD@N!JGG@>ODJI  )5.-$PMMFDUJPO \


    JOIFSJUT MFOHUI BOE JUFN

    DBMMFSHFUUFS 1SPQFSUZ/PEF-JTU OBNFE*UFN JO%0.4USJOHOBNF


    PWFSSJEFTJOIFSJUFE
    OBNFE*UFN

    SFBEPOMZBUUSJCVUF %0.4USJOH-JTU OBNFT


    ^

    UZQFEFGTFRVFODFBOZ .MJK@MOT4<GP@MM<T

    JOUFSGBDF .MJK@MOT,J?@*DNO  /PEF-JTU \


    SFBEPOMZBUUSJCVUF 1SPQFSUZ7BMVF"SSBZ WBMVFT
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    <HEE><MBHG G@IBOC
    3FUVSOTUIFOVNCFSPGFMFNFOUTJOUIFDPMMFDUJPO

    >E>F>GM  <HEE><MBHG DO@H K BG=>Q


    <HEE><MBHG7BG=>Q8
    <HEE><MBHGBG=>Q
    3FUVSOTUIFFMFNFOUXJUIJOEFY 8=34G GSPNUIFDPMMFDUJPO5IFJUFNTBSFTPSUFEJO USFFPSEFS Q 
    3FUVSOTOVMMJG 8=34G JTPVUPGSBOHF

    IKHI>KMR*H=>(BLM  <HEE><MBHG I<H@?'O@H K G:F>


    <HEE><MBHG7G:F>8
    <HEE><MBHGG:F>
    3FUVSOTB 1SPQFSUZ/PEF-JTU Q PCKFDUDPOUBJOJOHBOZFMFNFOUTUIBUBEEBQSPQFSUZOBNFE =0<4

    <HEE><MBHG I<H@N K


    3FUVSOTB %0.4USJOH-JTU XJUIUIF QSPQFSUZOBNFT Q PGUIFFMFNFOUTJOUIFDPMMFDUJPO

    IKHI>KMR*H=>(BLM Q<GP@N K


    3FUVSOTBOBSSBZPGUIFWBSJPVTWBMVFTUIBUUIFSFMFWBOUFMFNFOUTIBWF

    5IFPCKFDUT JOEJDFTPGUIFTVQQPSUFEJOEFYFEQSPQFSUJFT BSFBTEFИOFEGPS )5.-$PMMFDUJPO Q PCKFDUT

    
    5IF OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT DPOTJTUPGUIF QSPQFSUZOBNFT Q PGBMMUIFFMFNFOUT SFQSFTFOUFECZ
    UIFDPMMFDUJPO Q 

    5IF I<H@N BUUSJCVUFNVTUSFUVSOB MJWF Q %0.4USJOH-JTU PCKFDUHJWJOHUIF QSPQFSUZOBNFT Q PGBMMUIFFMFNFOUT
    SFQSFTFOUFECZUIFDPMMFDUJPO Q MJTUFEJO USFFPSEFS Q CVUXJUIEVQMJDBUFTSFNPWFE MFBWJOHPOMZUIFИSTUPDDVSSFODF
    PGFBDIOBNF5IFTBNFPCKFDUNVTUCFSFUVSOFEFBDIUJNF

    5IF I<H@?'O@HG:F> NFUIPENVTUSFUVSOB 1SPQFSUZ/PEF-JTU Q PCKFDUSFQSFTFOUJOHB MJWF Q WJFXPGUIF


    )5.-1SPQFSUJFT$PMMFDUJPO Q PCKFDU GVSUIFSИMUFSFETPUIBUUIFPOMZOPEFTJOUIF 1SPQFSUZ/PEF-JTU Q PCKFDUBSF
    UIPTFUIBUIBWFB QSPQFSUZOBNF Q FRVBMUP =0<45IFOPEFTJOUIF 1SPQFSUZ/PEF-JTU Q PCKFDUNVTUCFTPSUFEJO
    USFFPSEFS Q BOEUIFTBNFPCKFDUNVTUCFSFUVSOFEFBDIUJNFBQBSUJDVMBS =0<4 JTRVFSJFE

    .FNCFSTPGUIF 1SPQFSUZ/PEF-JTU Q JOUFSGBDFJOIFSJUFEGSPNUIF /PEF-JTU Q JOUFSGBDFNVTUCFIBWFBTUIFZXPVME


    POB /PEF-JTU Q PCKFDU

    5IF Q<GP@N *%-BUUSJCVUFPOUIF 1SPQFSUZ/PEF-JTU Q PCKFDU POHFUUJOH NVTUSFUVSOBOFXMZDPOTUSVDUFEBSSBZXIPTF


    WBMVFTBSFUIFWBMVFTPCUBJOFEGSPNUIF JUFN7BMVF Q %0.QSPQFSUZPGFBDIPGUIFFMFNFOUTSFQSFTFOUFECZUIF
    PCKFDU JO USFFPSEFS Q 

       +)0IE?H(CMN

    5IF %0.5PLFO-JTU Q JOUFSGBDFSFQSFTFOUTBOJOUFSGBDFUPBOVOEFSMZJOHTUSJOHUIBUDPOTJTUTPGB TFUPGTQBDFTFQBSBUFE


    UPLFOT Q 

    *HM> #-+2HD>G*BLM I H;C><ML:K>:EP:RL <:L>


    L>GLBMBO> I >O>GPA>GMA>NG=>KERBG@LMKBG@FB@AM
    HK=BG:KBER;>MK>:M>=BG:<:L>
    BGL>GLBMBO>F:GG>K

    JOUFSGBDF "-+2JF@I*DNO \
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH MFOHUI
    HFUUFS%0.4USJOH JUFN JOVOTJHOFEMPOHJOEFY
    
    CPPMFBO DPOUBJOT JO%0.4USJOHUPLFO
    
    WPJE BEE JO%0.4USJOHUPLFO
    
    WPJE SFNPWF JO%0.4USJOHUPLFO
    
    CPPMFBO UPHHMF JO%0.4USJOHUPLFO
    
    TUSJOHJGJFS %0.4USJOH
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    MHD>GEBLM G@IBOC
    3FUVSOTUIFOVNCFSPGUPLFOTJOUIFTUSJOH

    >E>F>GM  MHD>GEBLM DO@H K BG=>Q


    MHD>GEBLM7BG=>Q8
    3FUVSOTUIFUPLFOXJUIJOEFY 8=34G5IFUPLFOTBSFSFUVSOFEJOUIFPSEFSUIFZBSFGPVOEJOUIFVOEFSMZJOH
    TUSJOH
    3FUVSOTOVMMJG 8=34G JTPVUPGSBOHF

    A:LMHD>G  MHD>GEBLM >JIO<DIN K MHD>G


    3FUVSOTUSVFJGUIF C>:4= JTQSFTFOUGBMTFPUIFSXJTF
    5ISPXTB 4:/5"9@&33 Q FYDFQUJPOJG C>:4= JTFNQUZ
    5ISPXTBO */7"-*%@$)"3"$5&3@&33 Q FYDFQUJPOJG C>:4= DPOUBJOTBOZTQBDFT

    MHD>GEBLM <?? K MHD>G


    "EET C>:4= VOMFTTJUJTBMSFBEZQSFTFOU
    5ISPXTB 4:/5"9@&33 Q FYDFQUJPOJG C>:4= JTFNQUZ
    5ISPXTBO */7"-*%@$)"3"$5&3@&33 Q FYDFQUJPOJG C>:4= DPOUBJOTBOZTQBDFT

    
    MHD>GEBLM M@HJQ@ K MHD>G
    3FNPWFT C>:4= JGJUJTQSFTFOU
    5ISPXTB 4:/5"9@&33 Q FYDFQUJPOJG C>:4= JTFNQUZ
    5ISPXTBO */7"-*%@$)"3"$5&3@&33 Q FYDFQUJPOJG C>:4= DPOUBJOTBOZTQBDFT

    A:LMHD>G  MHD>GEBLM OJBBG@ K MHD>G


    "EET C>:4= JGJUJTOPUQSFTFOU PSSFNPWFTJUJGJUJT3FUVSOTUSVFJG C>:4= JTOPXQSFTFOU JUXBTBEEFE
    
    SFUVSOTGBMTFJGJUJTOPU JUXBTSFNPWFE
    
    5ISPXTB 4:/5"9@&33 Q FYDFQUJPOJG C>:4= JTFNQUZ
    5ISPXTBO */7"-*%@$)"3"$5&3@&33 Q FYDFQUJPOJG C>:4= DPOUBJOTBOZTQBDFT

    5IF G@IBOC BUUSJCVUFNVTUSFUVSOUIFOVNCFSPGUPLFOTUIBUSFTVMUGSPN TQMJUUJOHUIFVOEFSMZJOHTUSJOHPOTQBDFT Q 


    5IJTJTUIF ;4=6C7 ? 

    5IFPCKFDUT JOEJDFTPGUIFTVQQPSUFEJOEFYFEQSPQFSUJFT BSFUIFOVNCFSTJOUIFSBOHF[FSPUP ;4=6C7 ?  VOMFTTUIF


    ;4=6C7 ? JT[FSP JOXIJDIDBTFUIFSFBSFOP TVQQPSUFEJOEFYFEQSPQFSUJFT

    5IF DO@HBG=>Q NFUIPENVTU TQMJUUIFVOEFSMZJOHTUSJOHPOTQBDFT Q QSFTFSWJOHUIFPSEFSPGUIFUPLFOTBTGPVOEJO


    UIFVOEFSMZJOHTUSJOH BOEUIFOSFUVSOUIF 8=34GUIJUFNJOUIJTMJTU*G 8=34G JTFRVBMUPPSHSFBUFSUIBOUIFOVNCFSPG
    UPLFOT UIFOUIFNFUIPENVTUSFUVSOOVMM

    'PSFYBNQMF JGUIFTUSJOHJTBCBDUIFOUIFSFBSFGPVSUPLFOTUIFUPLFOXJUIJOEFYJTB UIFUPLFOXJUI


    JOEFYJTC UIFUPLFOXJUIJOEFYJTB BOEUIFUPLFOXJUIJOEFYJTD

    5IF >JIO<DINMHD>G NFUIPENVTUSVOUIFGPMMPXJOHBMHPSJUIN

     *GUIF C>:4= BSHVNFOUJTUIFFNQUZTUSJOH UIFOSBJTFB 4:/5"9@&33 Q FYDFQUJPOBOETUPQUIFBMHPSJUIN

     *GUIF C>:4= BSHVNFOUDPOUBJOTBOZ TQBDFDIBSBDUFST Q UIFOSBJTFBO */7"-*%@$)"3"$5&3@&33 Q FYDFQUJPO


    BOETUPQUIFBMHPSJUIN

     0UIFSXJTF TQMJUUIFVOEFSMZJOHTUSJOHPOTQBDFT Q UPHFUUIFMJTUPGUPLFOTJOUIFPCKFDUTVOEFSMZJOHTUSJOH

     *GUIFUPLFOJOEJDBUFECZ C>:4= JTB DBTFTFOTJUJWF Q NBUDIGPSPOFPGUIFUPLFOTJOUIFPCKFDUTVOEFSMZJOH


    TUSJOHUIFOSFUVSOUSVFBOETUPQUIJTBMHPSJUIN

     0UIFSXJTF SFUVSOGBMTF

    5IF <??MHD>G NFUIPENVTUSVOUIFGPMMPXJOHBMHPSJUIN

     *GUIF C>:4= BSHVNFOUJTUIFFNQUZTUSJOH UIFOSBJTFB 4:/5"9@&33 Q FYDFQUJPOBOETUPQUIFBMHPSJUIN

     *GUIF C>:4= BSHVNFOUDPOUBJOTBOZ TQBDFDIBSBDUFST Q UIFOSBJTFBO */7"-*%@$)"3"$5&3@&33 Q FYDFQUJPO


    BOETUPQUIFBMHPSJUIN

     0UIFSXJTF TQMJUUIFVOEFSMZJOHTUSJOHPOTQBDFT Q UPHFUUIFMJTUPGUPLFOTJOUIFPCKFDUTVOEFSMZJOHTUSJOH

     *GUIFHJWFO C>:4= JTB DBTFTFOTJUJWF Q NBUDIGPSPOFPGUIFUPLFOTJOUIF %0.5PLFO-JTU Q PCKFDUT


    VOEFSMZJOHTUSJOHUIFOTUPQUIFBMHPSJUIN

     0UIFSXJTF JGUIF %0.5PLFO-JTU Q PCKFDUTVOEFSMZJOHTUSJOHJTOPUUIFFNQUZTUSJOHBOEUIFMBTUDIBSBDUFSPG


    UIBUTUSJOHJTOPUB TQBDFDIBSBDUFS Q UIFOBQQFOEB6 41"$&DIBSBDUFSUPUIFFOEPGUIBUTUSJOH

     "QQFOEUIFWBMVFPG C>:4= UPUIFFOEPGUIF %0.5PLFO-JTU Q PCKFDUTVOEFSMZJOHTUSJOH

    5IF M@HJQ@MHD>G NFUIPENVTUSVOUIFGPMMPXJOHBMHPSJUIN

     *GUIF C>:4= BSHVNFOUJTUIFFNQUZTUSJOH UIFOSBJTFB 4:/5"9@&33 Q FYDFQUJPOBOETUPQUIFBMHPSJUIN

     *GUIF C>:4= BSHVNFOUDPOUBJOTBOZ TQBDFDIBSBDUFST Q UIFOSBJTFBO */7"-*%@$)"3"$5&3@&33 Q FYDFQUJPO


    BOETUPQUIFBMHPSJUIN

     0UIFSXJTF SFNPWFUIFHJWFO C>:4= GSPNUIFVOEFSMZJOHTUSJOH Q 

    5IF OJBBG@MHD>G NFUIPENVTUSVOUIFGPMMPXJOHBMHPSJUIN

    
     *GUIF C>:4= BSHVNFOUJTUIFFNQUZTUSJOH UIFOSBJTFB 4:/5"9@&33 Q FYDFQUJPOBOETUPQUIFBMHPSJUIN

     *GUIF C>:4= BSHVNFOUDPOUBJOTBOZ TQBDFDIBSBDUFST Q UIFOSBJTFBO */7"-*%@$)"3"$5&3@&33 Q FYDFQUJPO


    BOETUPQUIFBMHPSJUIN

     0UIFSXJTF TQMJUUIFVOEFSMZJOHTUSJOHPOTQBDFT Q UPHFUUIFMJTUPGUPLFOTJOUIFPCKFDUTVOEFSMZJOHTUSJOH

     *GUIFHJWFO C>:4= JTB DBTFTFOTJUJWF Q NBUDIGPSPOFPGUIFUPLFOTJOUIF %0.5PLFO-JTU Q PCKFDUT


    VOEFSMZJOHTUSJOHUIFO SFNPWFUIFHJWFO C>:4= GSPNUIFVOEFSMZJOHTUSJOH Q BOETUPQUIFBMHPSJUIN
    SFUVSOJOHGBMTF

     0UIFSXJTF JGUIF %0.5PLFO-JTU Q PCKFDUTVOEFSMZJOHTUSJOHJTOPUUIFFNQUZTUSJOHBOEUIFMBTUDIBSBDUFSPG


    UIBUTUSJOHJTOPUB TQBDFDIBSBDUFS Q UIFOBQQFOEB6 41"$&DIBSBDUFSUPUIFFOEPGUIBUTUSJOH

     "QQFOEUIFWBMVFPG C>:4= UPUIFFOEPGUIF %0.5PLFO-JTU Q PCKFDUTVOEFSMZJOHTUSJOH

     3FUVSOUSVF

    0CKFDUTJNQMFNFOUJOHUIF %0.5PLFO-JTU Q JOUFSGBDFNVTU MNLCHAC@S UPUIFPCKFDUTVOEFSMZJOHTUSJOHSFQSFTFOUBUJPO

       +)/?NN;<F?0IE?H(CMN

    5IF %0.4FUUBCMF5PLFO-JTU Q JOUFSGBDFJTUIFTBNFBTUIF %0.5PLFO-JTU Q JOUFSGBDF FYDFQUUIBUJUBMMPXTUIF


    VOEFSMZJOHTUSJOHUPCFEJSFDUMZDIBOHFE

    JOUFSGBDF "-+1@OO<=G@2JF@I*DNO  %0.5PLFO-JTU \


    BUUSJCVUF%0.4USJOH WBMVF
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    MHD>GEBLM Q<GP@ K
    3FUVSOTUIFVOEFSMZJOHTUSJOH
    $BOCFTFU UPDIBOHFUIFVOEFSMZJOHTUSJOH

    "OPCKFDUJNQMFNFOUJOHUIF %0.4FUUBCMF5PLFO-JTU Q JOUFSGBDFNVTUBDUBTEFИOFEGPSUIF %0.5PLFO-JTU Q


    JOUFSGBDF FYDFQUGPSUIF WBMVF Q BUUSJCVUFEFИOFEIFSF

    5IF Q<GP@ BUUSJCVUFNVTUSFUVSOUIFVOEFSMZJOHTUSJOHPOHFUUJOH BOENVTUSFQMBDFUIFVOEFSMZJOHTUSJOHXJUIUIFOFX


    WBMVFPOTFUUJOH

       /;@?J;MMCHAI@MNLO=NOL?>>;N;

    8IFOBVTFSBHFOUJTSFRVJSFEUPPCUBJOB MNLO=NOL?>=FIH? PGBOPCKFDU JUNVTUSVOUIFGPMMPXJOHBMHPSJUIN XIJDI


    FJUIFSSFUVSOTBTFQBSBUFPCKFDU PSUISPXTBOFYDFQUJPO

     -FU 8=?DC CFUIFPCKFDUCFJOHDMPOFE

     -FU <4<>AH CFBMJTUPGPCKFDUT JOJUJBMMZFNQUZ 5IJTJTVTFEUPDBUDIDZDMFT

     -FU >DC?DC CFUIFPCKFDUSFTVMUJOHGSPNDBMMJOHUIF JOUFSOBMTUSVDUVSFEDMPOJOHBMHPSJUIN Q XJUI 8=?DC BOE


    <4<>AH

     3FUVSO >DC?DC

    5IF CHN?LH;FMNLO=NOL?>=FIHCHA;FAILCNBG JTBMXBZTDBMMFEXJUIUXPBSHVNFOUT 8=?DC BOE <4<>AH BOEJUT


    CFIBWJPSEFQFOETPOUIFUZQFPG 8=?DC BTGPMMPXT

    X %@ BGINM CMNB?OH>?]H?>P;FO?
    3FUVSOUIFVOEFИOFEWBMVF

    X %@ BGINM CMNB?HOFFP;FO?
    3FUVSOUIFOVMMWBMVF

    
    X %@ BGINM CMNB?@;FM?P;FO?
    3FUVSOUIFGBMTFWBMVF

    X %@ BGINM CMNB?NLO?P;FO?
    3FUVSOUIFUSVFWBMVF

    X %@ BGINM CM;*OG<?LI<D?=N
    3FUVSOBOFXMZDPOTUSVDUFE/VNCFSPCKFDUXJUIUIFTBNFWBMVFBT 8=?DC

    X %@ BGINM CM;/NLCHAI<D?=N
    3FUVSOBOFXMZDPOTUSVDUFE4USJOHPCKFDUXJUIUIFTBNFWBMVFBT 8=?DC

    X %@ BGINM CM; "<O@ I<D?=N


    3FUVSOBOFXMZDPOTUSVDUFE %BUF PCKFDUXJUIUIFTBNFWBMVFBT 8=?DC

    X %@ BGINM CM; 0@B#SK I<D?=N


    3FUVSOBOFXMZDPOTUSVDUFE 3FH&YQ PCKFDUXJUIUIFTBNFQBUUFSOBOEЙBHTBT 8=?DC

    *HM> 0A>O:EN>H?MA> E:LM(G=>Q IKHI>KMRBLGHM<HIB>=

    K
    X %@ BGINM CM; 'H<B@"<O< I<D?=N
    3FUVSOBOFXMZDPOTUSVDUFE *NBHF%BUB Q PCKFDUXJUIUIFTBNF XJEUI Q BOE IFJHIU Q BT 8=?DC BOEXJUIB
    OFXMZDPOTUSVDUFE $BOWBT1JYFM"SSBZ Q GPSJUT EBUB Q BUUSJCVUF XJUIUIFTBNF MFOHUI Q BOEQJYFMWBMVFT
    BTUIF 8=?DCT

    X %@ BGINM CM; $DG@ I<D?=N


    3FUVSOBOFXMZDPOTUSVDUFE 'JMF PCKFDUDPSSFTQPOEJOHUPUIFTBNFVOEFSMZJOHEBUB

    X %@ BGINM CM; GJ= I<D?=N


    3FUVSOBOFXMZDPOTUSVDUFE #MPC PCKFDUDPSSFTQPOEJOHUPUIFTBNFVOEFSMZJOHEBUB

    X %@ BGINM CM; $DG@*DNO I<D?=N


    3FUVSOBOFXMZDPOTUSVDUFE 'JMF-JTU PCKFDUDPOUBJOJOHBMJTUPGOFXMZDPOTUSVDUFE 'JMF PCKFDUT
    DPSSFTQPOEJOHUPUIFTBNFVOEFSMZJOHEBUBBTUIPTFJO 8=?DC NBJOUBJOJOHUIFJSSFMBUJWFPSEFS

    X %@ BGINM CM;BIMNI<D?=N? A ; +)HI>?


    3FUVSOUIFOVMMWBMVF

    X %@ BGINM CM;HLL;SI<D?=N
    X %@ BGINM CM;H+<D?=NI<D?=N

     *G 8=?DC JTJO <4<>AH UIFOUISPXB /05@4611035&%@&33 Q FYDFQUJPOBOEBCPSUUIFPWFSBMM


    TUSVDUVSFEDMPOF Q BMHPSJUIN

     0UIFSXJTF MFU =4F<4<>AH CFBMJTUDPOTJTUJOHPGUIFJUFNTJO <4<>AH XJUIUIFBEEJUJPOPG 8=?DC

     $SFBUFBOFXPCKFDU >DC?DC PGUIFTBNFUZQFBT 8=?DCFJUIFSBO"SSBZPSBO0CKFDU

     'PSFBDIFOVNFSBCMFQSPQFSUZJO 8=?DC BEEBDPSSFTQPOEJOHQSPQFSUZUP >DC?DC IBWJOHUIFTBNF


    OBNF BOEIBWJOHBWBMVFDSFBUFEGSPNJOWPLJOHUIF JOUFSOBMTUSVDUVSFEDMPOJOHBMHPSJUIN Q
    SFDVSTJWFMZXJUIUIFWBMVFPGUIFQSPQFSUZBTUIF8=?DCBSHVNFOUBOE =4F<4<>AH BTUIF
    <4<>AHBSHVNFOU5IFPSEFSPGUIFQSPQFSUJFTJOUIF 8=?DC BOE >DC?DC PCKFDUTNVTUCFUIFTBNF

    *HM> 0ABL=H>LGHMP:EDMA>IKHMHMRI><A:BG

     3FUVSO >DC?DC

    X %@ BGINM CM;HINB?LH;NCP?I<D?=NNSJ?? A #MMJM


    3FUVSOUIFOVMMWBMVF

       +)/NLCHA);J

    5IF %0.4USJOH.BQ Q JOUFSGBDFSFQSFTFOUTBTFUPGOBNFWBMVFQBJST*UFYQPTFTUIFTFVTJOHUIFTDSJQUJOHMBOHVBHFT


    OBUJWFNFDIBOJTNTGPSQSPQFSUZBDDFTT

    
    8IFOB %0.4USJOH.BQ Q PCKFDUJTJOTUBOUJBUFE JUJTBTTPDJBUFEXJUIUISFFBMHPSJUINT POFGPSHFUUJOHUIFMJTUPGOBNF
    WBMVFQBJST POFGPSTFUUJOHOBNFTUPDFSUBJOWBMVFT BOEPOFGPSEFMFUJOHOBNFT

    JOUFSGBDF "-+1OMDIB+<K \
    HFUUFS%0.4USJOH JO%0.4USJOHOBNF
    
    TFUUFSWPJE JO%0.4USJOHOBNF JO%0.4USJOHWBMVF
    
    DSFBUPSWPJE JO%0.4USJOHOBNF JO%0.4USJOHWBMVF
    
    EFMFUFSWPJE JO%0.4USJOHOBNF
    
    ^

    5IF OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT POB %0.4USJOH.BQ Q PCKFDUBUBOZJOTUBOUBSFUIFOBNFTPGFBDIQBJS


    SFUVSOFEGSPNUIFBMHPSJUINGPSHFUUJOHUIFMJTUPGOBNFWBMVFQBJSTBUUIBUJOTUBOU

    8IFOB %0.4USJOH.BQ Q PCKFDUJTJOEFYFEUPSFUSJFWFBOBNFEQSPQFSUZ =0<4 UIFWBMVFSFUVSOFENVTUCFUIFWBMVF


    DPNQPOFOUPGUIFOBNFWBMVFQBJSXIPTFOBNFDPNQPOFOUJT =0<4 JOUIFMJTUSFUVSOFECZUIFBMHPSJUINGPSHFUUJOH
    UIFMJTUPGOBNFWBMVFQBJST

    8IFOB %0.4USJOH.BQ Q PCKFDUJTJOEFYFEUPDSFBUFPSNPEJGZBOBNFEQSPQFSUZ =0<4 XJUIWBMVF E0;D4 UIFBMHPSJUIN


    GPSTFUUJOHOBNFTUPDFSUBJOWBMVFTNVTUCFSVO QBTTJOH =0<4 BTUIFOBNFBOEUIFSFTVMUPGDPOWFSUJOH E0;D4 UPB
    %0.4USJOH BTUIFWBMVF

    8IFOB %0.4USJOH.BQ Q PCKFDUJTJOEFYFEUPEFMFUFBOBNFEQSPQFSUZOBNFE =0<4 UIFBMHPSJUINGPSEFMFUJOHOBNFT


    NVTUCFSVO QBTTJOH =0<4 BTUIFOBNF

    *HM> 0A> #-+1MKBG@+:I I BGM>K?:<>=>[GBMBHGA>K>BLHGERBGM>G=>=?HK&:O:/<KBIM>GOBKHGF>GML


    +MA>KE:G@N:@>;BG=BG@LPBEEG>>=MH=>[G>AHP #-+1MKBG@+:I I BLMH;>BFIE>F>GM>=?HKMAHL>
    E:G@N:@>L

    5IF EBUBTFU Q BUUSJCVUFPOFMFNFOUTFYQPTFTUIF EBUB Q BUUSJCVUFTPOUIFFMFNFOU

    (JWFOUIFGPMMPXJOHGSBHNFOUBOEFMFNFOUTXJUITJNJMBSDPOTUSVDUJPOT

    JNHDMBTTUPXFSJEUPXFSEBUBYEBUBZ
    EBUBBJSPCPUBSHFUEBUBIQEBUBBCJMJUZGMBNFT
    TSDUPXFSTSPDLFUQOHBMU3PDLFU5PXFS

    POFDPVMEJNBHJOFBGVODUJPO TQMBTI%BNBHF
    UIBUUBLFTTPNFBSHVNFOUT UIFИSTUPGXIJDIJTUIFFMFNFOUUP
    QSPDFTT

    GVODUJPOTQMBTI%BNBHF OPEF Y Z EBNBHF


    \
    JG OPEFDMBTT-JTUDPOUBJOT UPXFS
    DIFDLJOHUIFDMBTTBUUSJCVUF
    OPEFEBUBTFUYYSFBEJOHUIFEBUBYBUUSJCVUF
    OPEFEBUBTFUZZ
    \SFBEJOHUIFEBUBZBUUSJCVUF
    WBSIQQBSTF*OU OPEFEBUBTFUIQ
    SFBEJOHUIFEBUBIQBUUSJCVUF
    IQIQEBNBHF
    JG IQ
    \
    IQ
    OPEFEBUBTFUBJEFBETFUUJOHUIFEBUBBJBUUSJCVUF
    EFMFUFOPEFEBUBTFUBCJMJUZSFNPWJOHUIFEBUBBCJMJUZBUUSJCVUF
    ^
    OPEFEBUBTFUIQIQTFUUJOHUIFEBUBIQBUUSJCVUF
    ^
    ^

       +)@?;NOL?MNLCHAM

    %0.$PSFEFИOFTNFDIBOJTNTGPSDIFDLJOHGPSJOUFSGBDFTVQQPSU BOEGPSPCUBJOJOHJNQMFNFOUBUJPOTPGJOUFSGBDFT
    VTJOH GFBUVSFTUSJOHT <%0.$03&> Q

    "VUIPSTBSFTUSPOHMZEJTDPVSBHFEGSPNVTJOHUIFTF BTUIFZBSFOPUPSJPVTMZVOSFMJBCMFBOEJNQSFDJTF"VUIPSTBSF
    FODPVSBHFEUPSFMZPOFYQMJDJUGFBUVSFUFTUJOHPSUIFHSBDFGVMEFHSBEBUJPOCFIBWJPSJOUSJOTJDUPTPNFPGUIFGFBUVSFTJO
    UIJTTQFDJИDBUJPO

    'PSIJTUPSJDBMSFBTPOT VTFSBHFOUTTIPVMESFUVSOUIFUSVFWBMVFXIFOUIF C<N$@<OPM@?>:MNK> O>KLBHG NFUIPEPG


    UIF %0.*NQMFNFOUBUJPO Q JOUFSGBDFJTJOWPLFEXJUI 540CDA4 TFUUPFJUIFS)5.-PS9)5.-BOE E4AB8>= TFUUPFJUIFS
    PS

    
       !R=?JNCIHM

    5IFGPMMPXJOHBSF %0.&YDFQUJPO Q DPEFT <%0.$03&> Q

     ',"#6;1'8#;#00
     "-+120',%;1'8#;#00
     &'#00!&7;0#/3#12;#00
     50-,%;"-!3+#,2;#00
     ',4*'";!&0!2#0;#00
     ,-;"2;**-5#";#00
     ,-;+-"'$'!2'-,;**-5#";#00
     ,-2;$-3,";#00
     ,-2;13..-02#";#00
     ',31#;220' 32#;#00
     ',4*'";122#;#00
     17,26;#00
     ',4*'";+-"'$'!2'-,;#00
     ,+#1.!#;#00
     ',4*'";!!#11;#00
     4*'"2'-,;#00
     27.#;+'1+2!&;#00
     1#!30'27;#00
     ,#25-0);#00
      -02;#00
     30*;+'1+2!&;#00
     /3-2;#6!##"#";#00
     .01#;#00
     1#0'*'8#;#00

       #;L<;A?=IFF?=NCIH

    5IFSFJTBO CGJFC?>MNLIHAL?@?L?H=? GSPNBOZ*%-BUUSJCVUFUIBUSFUVSOTBQSFFYJTUJOHPCKFDUUPUIBUPCKFDU

    'PSFYBNQMF UIF EPDVNFOUMPDBUJPO BUUSJCVUFNFBOTUIBUUIFSFJTBTUSPOHSFGFSFODFGSPNB %PDVNFOU Q PCKFDU


    UPJUT -PDBUJPO Q PCKFDU4JNJMBSMZ UIFSFJTBMXBZTBTUSPOHSFGFSFODFGSPNB %PDVNFOU Q UPBOZEFTDFOEBOU
    OPEFT BOEGSPNBOZOPEFUPJUTPXOFS %PDVNFOU Q 

      *;G?MJ;=?M

    5IF $0)(H;G?MJ;=? JT IUUQXXXXPSHYIUNM

    5IF );NB)(H;G?MJ;=? JT IUUQXXXXPSH.BUI.BUI.-

    5IF /2#H;G?MJ;=? JT IUUQXXXXPSHTWH

    5IF 4(CHEH;G?MJ;=? JT IUUQXXXXPSHYMJOL

    5IF 4)(H;G?MJ;=? JT IUUQXXXXPSH9.-OBNFTQBDF

    5IF 4)(*/H;G?MJ;=? JT IUUQXXXXPSHYNMOT

    %BUBNJOJOHUPPMTBOEPUIFSVTFSBHFOUTUIBUQFSGPSNPQFSBUJPOTPODPOUFOUXJUIPVUSVOOJOHTDSJQUT FWBMVBUJOH$44PS
    91BUIFYQSFTTJPOT PSPUIFSXJTFFYQPTJOHUIFSFTVMUJOH%0.UPBSCJUSBSZDPOUFOU NBZTVQQPSUOBNFTQBDFTCZKVTU
    BTTFSUJOHUIBUUIFJS%0.OPEFBOBMPHVFTBSFJODFSUBJOOBNFTQBDFT XJUIPVUBDUVBMMZFYQPTJOHUIFBCPWFTUSJOHT

    
     /?G;HNC=M
    MNLO=NOL?
    ;H>,%MI@$0)(>I=OG?HNM

      I=OG?HNM

    &WFSZ9.-BOE)5.-EPDVNFOUJOBO)5.-6"JTSFQSFTFOUFECZB %PDVNFOU Q PCKFDU <%0.$03&> Q

    0B?>I=OG?HNM;>>L?MM JTBO BCTPMVUF63- Q UIBUJTTFUXIFOUIF %PDVNFOU Q JTDSFBUFE 0B?>I=OG?HNM


    =OLL?HN;>>L?MM JTBO BCTPMVUF63- Q UIBUDBODIBOHFEVSJOHUIFMJGFUJNFPGUIF %PDVNFOU Q GPSFYBNQMFXIFOUIF
    VTFS OBWJHBUFT Q UPB GSBHNFOUJEFOUJИFS Q POUIFQBHFPSXIFOUIF QVTI4UBUF
    Q NFUIPEJTDBMMFEXJUIBOFX
    63- Q  5IFEPDVNFOUTDVSSFOUBEESFTT Q NVTUCFTFUUP UIFEPDVNFOUTBEESFTT Q XIFOUIF %PDVNFOU Q JTDSFBUFE

    *HM> %GM>K:<MBO>NL>K:@>GMLMRIB<:EER>QIHL> MA>=H<NF>GML<NKK>GM:==K>LL I BGMA>BKNL>K


    BGM>K?:<>

    8IFOB %PDVNFOU Q JTDSFBUFECZB TDSJQU Q VTJOHUIF DSFBUF%PDVNFOU


    Q PS DSFBUF)5.-%PDVNFOU
    Q "1*T UIF
    EPDVNFOUTBEESFTT Q JTUIFTBNFBT UIFEPDVNFOUTBEESFTT Q PGUIF TDSJQUTEPDVNFOU Q 

    %PDVNFOU Q PCKFDUTBSFBTTVNFEUPCF 4)(>I=OG?HNM VOMFTTUIFZBSFЙBHHFEBTCFJOH $0)(>I=OG?HNM XIFO


    UIFZBSFDSFBUFE8IFUIFSBEPDVNFOUJTBO )5.-EPDVNFOU Q PSBO 9.-EPDVNFOU Q BЗFDUTUIFCFIBWJPSPGDFSUBJO
    "1*TBOEUIFDBTFTFOTJUJWJUZPGTPNFTFMFDUPST

       I=OG?HNMCHNB? +)

    "MM %PDVNFOU Q PCKFDUT JOVTFSBHFOUTJNQMFNFOUJOHUIJTTQFDJИDBUJPO


    NVTU BMTPJNQMFNFOUUIF )5.-%PDVNFOU Q
    JOUFSGBDF BWBJMBCMFVTJOHCJOEJOHTQFDJИDNFUIPET 5IJTJTUIFDBTFXIFUIFSPSOPUUIFEPDVNFOUJORVFTUJPOJTBO
    )5.-EPDVNFOU Q PSJOEFFEXIFUIFSJUDPOUBJOTBOZ )5.-FMFNFOUT Q BUBMM
    %PDVNFOU Q PCKFDUT NVTU BMTP
    JNQMFNFOUUIFEPDVNFOUMFWFMJOUFSGBDFPGBOZPUIFSOBNFTQBDFTUIBUUIF6"TVQQPSUT

    'PSFYBNQMF JGBO)5.-JNQMFNFOUBUJPOBMTPTVQQPSUT47( UIFOUIF %PDVNFOU Q PCKFDUJNQMFNFOUTCPUI


    )5.-%PDVNFOU Q BOE 47(%PDVNFOU

    *HM> ><:NL>MA> '2+*#H<NF>GM I BGM>K?:<>BLGHPH;M:BG>=NLBG@;BG=BG@


    LI><B[<<:LMBG@
    F>MAH=LBGLM>:=H?LBFIER;>BG@MA>IKBF:KRBGM>K?:<>H?MA>=H<NF>GMH;C><M BMBLGHEHG@>K
    =>[G>=:LBGA>KBMBG@?KHF #H<NF>GM I

    <0WFSSJEF#VJMUJOT>
    JOUFSGBDF &2+*"J>PH@IO \
     SFTPVSDFNFUBEBUBNBOBHFNFOU
    <1VU'PSXBSETISFG>SFBEPOMZBUUSJCVUF -PDBUJPO MPDBUJPO
    SFBEPOMZBUUSJCVUF%0.4USJOH 63-
    BUUSJCVUF%0.4USJOH EPNBJO
    SFBEPOMZBUUSJCVUF%0.4USJOH SFGFSSFS
    BUUSJCVUF%0.4USJOH DPPLJF
    SFBEPOMZBUUSJCVUF%0.4USJOH MBTU.PEJGJFE
    SFBEPOMZBUUSJCVUF%0.4USJOH DPNQBU.PEF
    BUUSJCVUF%0.4USJOH DIBSTFU
    SFBEPOMZBUUSJCVUF%0.4USJOH DIBSBDUFS4FU
    SFBEPOMZBUUSJCVUF%0.4USJOH EFGBVMU$IBSTFU
    SFBEPOMZBUUSJCVUF%0.4USJOH SFBEZ4UBUF

     %0.USFFBDDFTTPST
    HFUUFS BOZ JO%0.4USJOHOBNF
    
    BUUSJCVUF%0.4USJOH UJUMF
    BUUSJCVUF%0.4USJOH EJS
    BUUSJCVUF )5.-&MFNFOU CPEZ
    SFBEPOMZBUUSJCVUF )5.-)FBE&MFNFOU IFBE
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO JNBHFT
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO FNCFET
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO QMVHJOT
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO MJOLT
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO GPSNT
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO TDSJQUT

    
    /PEF-JTU HFU&MFNFOUT#Z/BNF JO%0.4USJOHFMFNFOU/BNF
    
    /PEF-JTU HFU&MFNFOUT#Z$MBTT/BNF JO%0.4USJOHDMBTT/BNFT
    
    /PEF-JTU HFU*UFNT JOPQUJPOBM%0.4USJOHUZQF/BNFT
     NJDSPEBUB

     EZOBNJDNBSLVQJOTFSUJPO
    BUUSJCVUF%0.4USJOH JOOFS)5.-
    )5.-%PDVNFOU PQFO JOPQUJPOBM%0.4USJOHUZQF JOPQUJPOBM%0.4USJOHSFQMBDF
    
    8JOEPX1SPYZ PQFO JO%0.4USJOHVSM JO%0.4USJOHOBNF JO%0.4USJOHGFBUVSFT JOPQUJPOBM
    CPPMFBOSFQMBDF
    
    WPJE DMPTF
    
    WPJE XSJUF JO%0.4USJOHUFYU
    
    WPJE XSJUFMO JO%0.4USJOHUFYU
    

     VTFSJOUFSBDUJPO
    SFBEPOMZBUUSJCVUF 8JOEPX1SPYZ EFGBVMU7JFX
    4FMFDUJPO HFU4FMFDUJPO
    
    SFBEPOMZBUUSJCVUF &MFNFOU BDUJWF&MFNFOU
    CPPMFBO IBT'PDVT
    
    BUUSJCVUF%0.4USJOH EFTJHO.PEF
    CPPMFBO FYFD$PNNBOE JO%0.4USJOHDPNNBOE*E
    
    CPPMFBO FYFD$PNNBOE JO%0.4USJOHDPNNBOE*E JOCPPMFBOTIPX6*
    
    CPPMFBO FYFD$PNNBOE JO%0.4USJOHDPNNBOE*E JOCPPMFBOTIPX6* JO%0.4USJOHWBMVF
    
    CPPMFBO RVFSZ$PNNBOE&OBCMFE JO%0.4USJOHDPNNBOE*E
    
    CPPMFBO RVFSZ$PNNBOE*OEFUFSN JO%0.4USJOHDPNNBOE*E
    
    CPPMFBO RVFSZ$PNNBOE4UBUF JO%0.4USJOHDPNNBOE*E
    
    CPPMFBO RVFSZ$PNNBOE4VQQPSUFE JO%0.4USJOHDPNNBOE*E
    
    %0.4USJOH RVFSZ$PNNBOE7BMVF JO%0.4USJOHDPNNBOE*E
    
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO DPNNBOET

     FWFOUIBOEMFS*%-BUUSJCVUFT
    BUUSJCVUF 'VODUJPO POBCPSU
    BUUSJCVUF 'VODUJPO POCMVS
    BUUSJCVUF 'VODUJPO PODBOQMBZ
    BUUSJCVUF 'VODUJPO PODBOQMBZUISPVHI
    BUUSJCVUF 'VODUJPO PODIBOHF
    BUUSJCVUF 'VODUJPO PODMJDL
    BUUSJCVUF 'VODUJPO PODPOUFYUNFOV
    BUUSJCVUF 'VODUJPO POECMDMJDL
    BUUSJCVUF 'VODUJPO POESBH
    BUUSJCVUF 'VODUJPO POESBHFOE
    BUUSJCVUF 'VODUJPO POESBHFOUFS
    BUUSJCVUF 'VODUJPO POESBHMFBWF
    BUUSJCVUF 'VODUJPO POESBHPWFS
    BUUSJCVUF 'VODUJPO POESBHTUBSU
    BUUSJCVUF 'VODUJPO POESPQ
    BUUSJCVUF 'VODUJPO POEVSBUJPODIBOHF
    BUUSJCVUF 'VODUJPO POFNQUJFE
    BUUSJCVUF 'VODUJPO POFOEFE
    BUUSJCVUF 'VODUJPO POFSSPS
    BUUSJCVUF 'VODUJPO POGPDVT
    BUUSJCVUF 'VODUJPO POGPSNDIBOHF
    BUUSJCVUF 'VODUJPO POGPSNJOQVU
    BUUSJCVUF 'VODUJPO POJOQVU
    BUUSJCVUF 'VODUJPO POJOWBMJE
    BUUSJCVUF 'VODUJPO POLFZEPXO
    BUUSJCVUF 'VODUJPO POLFZQSFTT
    BUUSJCVUF 'VODUJPO POLFZVQ
    BUUSJCVUF 'VODUJPO POMPBE
    BUUSJCVUF 'VODUJPO POMPBEFEEBUB
    BUUSJCVUF 'VODUJPO POMPBEFENFUBEBUB
    BUUSJCVUF 'VODUJPO POMPBETUBSU
    BUUSJCVUF 'VODUJPO PONPVTFEPXO
    BUUSJCVUF 'VODUJPO PONPVTFNPWF

    
    BUUSJCVUF 'VODUJPO PONPVTFPVU
    BUUSJCVUF 'VODUJPO PONPVTFPWFS
    BUUSJCVUF 'VODUJPO PONPVTFVQ
    BUUSJCVUF 'VODUJPO PONPVTFXIFFM
    BUUSJCVUF 'VODUJPO POQBVTF
    BUUSJCVUF 'VODUJPO POQMBZ
    BUUSJCVUF 'VODUJPO POQMBZJOH
    BUUSJCVUF 'VODUJPO POQSPHSFTT
    BUUSJCVUF 'VODUJPO POSBUFDIBOHF
    BUUSJCVUF 'VODUJPO POSFBEZTUBUFDIBOHF
    BUUSJCVUF 'VODUJPO POTDSPMM
    BUUSJCVUF 'VODUJPO POTFFLFE
    BUUSJCVUF 'VODUJPO POTFFLJOH
    BUUSJCVUF 'VODUJPO POTFMFDU
    BUUSJCVUF 'VODUJPO POTIPX
    BUUSJCVUF 'VODUJPO POTUBMMFE
    BUUSJCVUF 'VODUJPO POTVCNJU
    BUUSJCVUF 'VODUJPO POTVTQFOE
    BUUSJCVUF 'VODUJPO POUJNFVQEBUF
    BUUSJCVUF 'VODUJPO POWPMVNFDIBOHF
    BUUSJCVUF 'VODUJPO POXBJUJOH
    ^
    %PDVNFOU JNQMFNFOUT )5.-%PDVNFOU

    4JODFUIF )5.-%PDVNFOU Q JOUFSGBDFIPMETNFUIPETBOEBUUSJCVUFTSFMBUFEUPBOVNCFSPGEJTQBSBUFGFBUVSFT UIF


    NFNCFSTPGUIJTJOUFSGBDFBSFEFTDSJCFEJOWBSJPVTEJЗFSFOUTFDUJPOT

       /?=OLCNS

    6TFSBHFOUT NVTU SBJTFB 4&$63*5:@&33 Q FYDFQUJPOXIFOFWFSBOZPGUIFNFNCFSTPGBO )5.-%PDVNFOU Q PCKFDUBSF


    BDDFTTFECZTDSJQUTXIPTF FЗFDUJWFTDSJQUPSJHJO Q JTOPUUIF TBNF Q BTUIF %PDVNFOU Q T FЗFDUJWFTDSJQUPSJHJO Q 

       .?MIOL=?G?N;>;N;G;H;A?G?HN

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM 30*
    3FUVSOT UIFEPDVNFOUTBEESFTT Q 

    =H<NF>GM M@A@MM@M K


    3FUVSOT UIFBEESFTT Q PGUIF %PDVNFOU Q GSPNXIJDIUIFVTFSOBWJHBUFEUPUIJTPOF VOMFTTJUXBTCMPDLFE
    PSUIFSFXBTOPTVDIEPDVNFOU JOXIJDIDBTFJUSFUVSOTUIFFNQUZTUSJOH
    5IF OPSFGFSSFS Q MJOLUZQFDBOCFVTFEUPCMPDLUIFSFGFSSFS

    5IF 30* BUUSJCVUFNVTUSFUVSO UIFEPDVNFOUTBEESFTT Q 

    5IF M@A@MM@M BUUSJCVUFNVTUSFUVSOFJUIFSUIF DVSSFOUBEESFTT Q PGUIF BDUJWFEPDVNFOU Q PGUIF TPVSDFCSPXTJOH
    DPOUFYU Q 0CC74C8<4C74=0E860C8>=F0BBC0AC43 UIBUJT UIFQBHFXIJDI OBWJHBUFE Q UIF CSPXTJOHDPOUFYU Q UP
    UIFDVSSFOUEPDVNFOU
    XJUIBOZ GSBHNFOU Q DPNQPOFOUSFNPWFEPSUIFFNQUZTUSJOHJGUIFSFJTOPTVDI
    PSJHJOBUJOHQBHF PSJGUIF6"IBTCFFODPOИHVSFEOPUUPSFQPSUSFGFSSFSTJOUIJTDBTF PSJGUIFOBWJHBUJPOXBTJOJUJBUFE
    GPSB IZQFSMJOL Q XJUIB OPSFGFSSFS Q LFZXPSE

    *HM> %GMA><:L>H?$00, MA> K>?>KK>K I % (:MMKB;NM>PBEEF:M<AMA> 0>?>K>K LB<A>:=>KMA:M


    P:LL>GMPA>G ?>M<ABG@ I MA><NKK>GMI:@>

    *HM> 0RIB<:EERNL>K:@>GML:K><HG[@NK>=MHGHMK>IHKMK>?>KK>KLBGMA><:L>PA>K>MA>K>?>KK>K
    NL>L:G>G<KRIM>=IKHMH<HE:G=MA><NKK>GMI:@>=H>LGHM> @ PA>GG:OB@:MBG@?KHF:G AMMIL
    I:@>MH:G AMMI I:@>

    
    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM >JJFD@ 7 O:EN> 8
    3FUVSOTUIF)551DPPLJFTUIBUBQQMZUPUIF %PDVNFOU Q *GUIFSFBSFOPDPPLJFTPSDPPLJFTDBOUCFBQQMJFE
    UPUIJTSFTPVSDF UIFFNQUZTUSJOHXJMMCFSFUVSOFE
    $BOCFTFU UPBEEBOFXDPPLJFUPUIFFMFNFOUTTFUPG)551DPPLJFT
    *GUIFDPOUFOUTBSF TBOECPYFEJOUPBVOJRVFPSJHJO Q JOBO JGSBNF Q XJUIUIF TBOECPY Q BUUSJCVUF
    PS
    UIFSFTPVSDFXBTMBCFMFEBT UFYUIUNMTBOECPYFE Q B 4&$63*5:@&33 Q FYDFQUJPOXJMMCFUISPXOPO
    HFUUJOHBOETFUUJOH

    5IF >JJFD@ BUUSJCVUFSFQSFTFOUTUIFDPPLJFTPGUIFSFTPVSDFGSPNXIJDIUIF %PDVNFOU Q XBTDSFBUFE

    4PNF %PDVNFOU Q PCKFDUTBSF =IIEC? @L?? "J>PH@IO I<D?=NM"OZ %PDVNFOU Q PCKFDUDSFBUFECZUIF
    DSFBUF%PDVNFOU
    PS DSFBUF)5.-%PDVNFOU
    Q GBDUPSZNFUIPETJTB DPPLJFGSFF %PDVNFOU PCKFDU Q "OZ %PDVNFOU Q
    XIPTF BEESFTT Q EPFTOPUVTFBTFSWFSCBTFEOBNJOHBVUIPSJUZJTB DPPLJFGSFF %PDVNFOU PCKFDU Q 0UIFS
    TQFDJИDBUJPOTDBOBMTPEFИOF %PDVNFOU Q PCKFDUTBTCFJOH DPPLJFGSFF %PDVNFOU PCKFDUT Q 

    0OHFUUJOH JGUIFEPDVNFOUJTB DPPLJFGSFF %PDVNFOU PCKFDU Q UIFOUIFVTFSBHFOUNVTUSFUVSOUIFFNQUZTUSJOH


    0UIFSXJTF JGUIF %PDVNFOU Q T PSJHJO Q JTOPUBTDIFNFIPTUQPSUUVQMF UIFVTFSBHFOUNVTUSBJTFB 4&$63*5:@&33 Q
    FYDFQUJPO0UIFSXJTF UIFVTFSBHFOUNVTUИSTU PCUBJOUIFTUPSBHFNVUFY Q BOEUIFOSFUVSOUIFDPPLJFTUSJOHGPS UIF
    EPDVNFOUTBEESFTT Q GPSBOPO)551"1* <$00,*&4> Q

    0OTFUUJOH JGUIFEPDVNFOUJTB DPPLJFGSFF %PDVNFOU PCKFDU Q UIFOUIFVTFSBHFOUNVTUEPOPUIJOH0UIFSXJTF JGUIF


    %PDVNFOU Q T PSJHJO Q JTOPUBTDIFNFIPTUQPSUUVQMF UIFVTFSBHFOUNVTUSBJTFB 4&$63*5:@&33 Q FYDFQUJPO
    0UIFSXJTF UIFVTFSBHFOUNVTU PCUBJOUIFTUPSBHFNVUFY Q BOEUIFOBDUBTJUXPVMEXIFO SFDFJWJOHBTFUDPPLJF
    TUSJOH GPS UIFEPDVNFOUTBEESFTT Q WJBBOPO)551"1* DPOTJTUJOHPGUIFOFXWBMVF <$00,*&4> Q

    *HM> /BG<>MA> <HHDB> I :MMKB;NM>BL:<<>LLB;E>:<KHLL?K:F>L MA>I:MAK>LMKB<MBHGLHG<HHDB>L:K>


    HGER:MHHEMHA>EIF:G:@>PAB<A<HHDB>L:K>L>GMMHPAB<AI:KMLH?MA>LBM> :G=:K>GHMBG:GR
    P:R:L><NKBMR?>:MNK>

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM G<NO+J?DAD@?
    3FUVSOTUIFEBUFPGUIFMBTUNPEJИDBUJPOUPUIFEPDVNFOU BTSFQPSUFECZUIFTFSWFS JOUIFGPSN..%%
    :::: IINNTT JOUIFVTFSTMPDBMUJNF[POF
    *GUIFMBTUNPEJИDBUJPOEBUFJTOPULOPXO UIFDVSSFOUUJNFJTSFUVSOFEJOTUFBE

    5IF G<NO+J?DAD@? BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFEBUFBOEUJNFPGUIF %PDVNFOU Q TTPVSDFИMFTMBTU


    NPEJИDBUJPO JOUIFVTFSTMPDBMUJNF[POF JOUIFGPMMPXJOHGPSNBU

     5IFNPOUIDPNQPOFOUPGUIFEBUF

     "6 '40-*%64DIBSBDUFS 
    

     5IFEBZDPNQPOFOUPGUIFEBUF

     "6 '40-*%64DIBSBDUFS 
    

     5IFZFBSDPNQPOFOUPGUIFEBUF

     "6 41"$&DIBSBDUFS

     5IFIPVSTDPNQPOFOUPGUIFUJNF

     "6 "$0-0/DIBSBDUFS 
    

     5IFNJOVUFTDPNQPOFOUPGUIFUJNF

     "6 "$0-0/DIBSBDUFS 


    

     5IFTFDPOETDPNQPOFOUPGUIFUJNF

    "MMUIFOVNFSJDDPNQPOFOUTBCPWF PUIFSUIBOUIFZFBS NVTUCFHJWFOBTUXPEJHJUTJOUIFSBOHF6 %*(*5;&30


    
    UP6 %*(*5/*/& 
    SFQSFTFOUJOHUIFOVNCFSJOCBTFUFO [FSPQBEEFEJGOFDFTTBSZ5IFZFBSNVTUCFHJWFO

    
    BTUIFTIPSUFTUQPTTJCMFTUSJOHPGGPVSPSNPSFEJHJUTJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 

    SFQSFTFOUJOHUIFOVNCFSJOCBTFUFO [FSPQBEEFEJGOFDFTTBSZ

    5IF %PDVNFOU Q TTPVSDFИMFTMBTUNPEJИDBUJPOEBUFBOEUJNFNVTUCFEFSJWFEGSPNSFMFWBOUGFBUVSFTPGUIF


    OFUXPSLJOHQSPUPDPMTVTFE FHGSPNUIFWBMVFPGUIF)551 -BTU.PEJGJFE IFBEFSPGUIFEPDVNFOU PSGSPNNFUBEBUB
    JOUIFИMFTZTUFNGPSMPDBMИMFT*GUIFMBTUNPEJИDBUJPOEBUFBOEUJNFBSFOPULOPXO UIFBUUSJCVUFNVTUSFUVSOUIF
    DVSSFOUEBUFBOEUJNFJOUIFBCPWFGPSNBU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM >JHK<O+J?@
    *OBDPOGPSNJOHEPDVNFOU SFUVSOTUIFTUSJOH$44$PNQBU *O RVJSLTNPEF Q EPDVNFOUT SFUVSOTUIF
    TUSJOH#BDL$PNQBU CVUBDPOGPSNJOHEPDVNFOUDBOOFWFSUSJHHFS RVJSLTNPEF Q 

    " %PDVNFOU Q JTBMXBZTTFUUPPOFPGUISFFNPEFT HI KOCLEMGI>? UIFEFGBVMU KOCLEMGI>? VTFEUZQJDBMMZGPS


    MFHBDZEPDVNFOUTBOE FCGCN?> KOCLEMGI>? BMTPLOPXOBTBMNPTUTUBOEBSETNPEF5IFNPEFJTPOMZFWFS
    DIBOHFEGSPNUIFEFGBVMUCZUIF )5.-QBSTFS Q CBTFEPOUIFQSFTFODF BCTFODF PSWBMVFPGUIF%0$5:1&TUSJOH

    5IF >JHK<O+J?@ *%-BUUSJCVUFNVTUSFUVSOUIFMJUFSBMTUSJOH$44$PNQBUVOMFTTUIFEPDVNFOUIBTCFFOTFUUP RVJSLT


    NPEF Q CZUIF )5.-QBSTFS Q JOXIJDIDBTFJUNVTUJOTUFBESFUVSOUIFMJUFSBMTUSJOH#BDL$PNQBU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    =H<NF>GM >C<MN@O K 7 O:EN> 8
    3FUVSOTUIF EPDVNFOUTDIBSBDUFSFODPEJOH Q 
    $BOCFTFU UPEZOBNJDBMMZDIBOHFUIF EPDVNFOUTDIBSBDUFSFODPEJOH Q 
    /FXWBMVFTUIBUBSFOPU*"/"SFHJTUFSFEBMJBTFTTVQQPSUFECZUIFVTFSBHFOUBSFJHOPSFE

    =H<NF>GM >C<M<>O@M1@O K


    3FUVSOTUIF EPDVNFOUTDIBSBDUFSFODPEJOH Q 

    =H<NF>GM ?@A<PGO!C<MN@O K


    3FUVSOTXIBUNJHIUCFUIFVTFSBHFOUTEFGBVMUDIBSBDUFSFODPEJOH 5IFVTFSBHFOUNJHIUSFUVSOBOPUIFS
    DIBSBDUFSFODPEJOHBMUPHFUIFS FHUPQSPUFDUUIFVTFSTQSJWBDZ PSJGUIFVTFSBHFOUEPFTOUVTFBTJOHMF
    EFGBVMUFODPEJOH

    %PDVNFOUTIBWFBOBTTPDJBUFE =B;L;=N?L?H=I>CHA8IFOB %PDVNFOU Q PCKFDUJTDSFBUFE UIF EPDVNFOUT


    DIBSBDUFSFODPEJOH Q NVTUCFJOJUJBMJ[FEUP65'7BSJPVTBMHPSJUINTEVSJOHQBHFMPBEJOHBЗFDUUIJTWBMVF BTEPFT
    UIF DIBSTFU Q TFUUFS <*"/"$)"34&5> Q

    5IF >C<MN@O *%-BUUSJCVUFNVTU POHFUUJOH SFUVSOUIF QSFGFSSFE.*.&OBNF Q PGUIF EPDVNFOUTDIBSBDUFS


    FODPEJOH Q 0OTFUUJOH JGUIFOFXWBMVFJTBO*"/"SFHJTUFSFEBMJBTGPSBDIBSBDUFSFODPEJOHTVQQPSUFECZUIFVTFS
    BHFOU UIF EPDVNFOUTDIBSBDUFSFODPEJOH Q NVTUCFTFUUPUIBUDIBSBDUFSFODPEJOH 0UIFSXJTF OPUIJOHIBQQFOT

    5IF >C<M<>O@M1@O *%-BUUSJCVUFNVTU POHFUUJOH SFUVSOUIF QSFGFSSFE.*.&OBNF Q PGUIF EPDVNFOUTDIBSBDUFS


    FODPEJOH Q 

    5IF ?@A<PGO!C<MN@O *%-BUUSJCVUFNVTU POHFUUJOH SFUVSOUIF QSFGFSSFE.*.&OBNF Q PGBDIBSBDUFSFODPEJOH


    QPTTJCMZUIFVTFSTEFGBVMUFODPEJOH PSBOFODPEJOHBTTPDJBUFEXJUIUIFVTFSTDVSSFOUHFPHSBQIJDBMMPDBUJPO PSBOZ
    BSCJUSBSZFODPEJOHOBNF

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM M@<?T1O<O@
    3FUVSOTMPBEJOHXIJMFUIF %PDVNFOU Q JTMPBEJOH BOEDPNQMFUFPODFJUIBTMPBEFE
    5IF SFBEZTUBUFDIBOHF FWFOUИSFTPOUIF %PDVNFOU Q PCKFDUXIFOUIJTWBMVFDIBOHFT

    &BDIEPDVNFOUIBTB =OLL?HN>I=OG?HNL?;>CH?MM8IFOB %PDVNFOU Q PCKFDUJTDSFBUFE JUNVTUIBWFJUT DVSSFOU


    EPDVNFOUSFBEJOFTT Q TFUUPUIFTUSJOHMPBEJOHJGUIFEPDVNFOUJTBTTPDJBUFEXJUIBO )5.-QBSTFS Q PSBO 9.-

    
    QBSTFS Q PSUPUIFTUSJOHDPNQMFUFPUIFSXJTF7BSJPVTBMHPSJUINTEVSJOHQBHFMPBEJOHBЗFDUUIJTWBMVF8IFOUIF
    WBMVFJTTFU UIFVTFSBHFOUNVTU ИSFBTJNQMFFWFOU Q OBNFE SFBEZTUBUFDIBOHF BUUIF %PDVNFOU Q PCKFDU

    " %PDVNFOU Q JTTBJEUPIBWFBO ;=NCP?J;LM?L JGJUJTBTTPDJBUFEXJUIBO )5.-QBSTFS Q PSBO 9.-QBSTFS Q UIBU
    IBTOPUZFUCFFO TUPQQFE Q PSBCPSUFE

    5IF M@<?T1O<O@ *%-BUUSJCVUFNVTU POHFUUJOH SFUVSOUIF DVSSFOUEPDVNFOUSFBEJOFTT Q 

       +)NL??;==?MMILM

    0B? COHG ?F?G?HN PGBEPDVNFOUJTUIFEPDVNFOUTSPPUFMFNFOU JGUIFSFJTPOFBOEJUTBO IUNM Q FMFNFOU PSOVMM


    PUIFSXJTF

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    =H<NF>GM C@<? K
    3FUVSOT UIF IFBE FMFNFOU Q 

    0B? C@<? ?F?G?HN PGBEPDVNFOUJTUIFИSTU IFBE Q FMFNFOUUIBUJTBDIJMEPG UIF IUNM FMFNFOU Q JGUIFSFJTPOF PS
    OVMMPUIFSXJTF

    5IF C@<? BUUSJCVUF POHFUUJOH NVTUSFUVSO UIF IFBE FMFNFOU Q PGUIFEPDVNFOU B IFBE Q FMFNFOUPSOVMM
    

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    =H<NF>GM ODOG@ K 7 O:EN> 8
    3FUVSOTUIFEPDVNFOUTUJUMF BTHJWFOCZ UIF UJUMF FMFNFOU Q 
    $BOCFTFU UPVQEBUFUIFEPDVNFOUTUJUMF*GUIFSFJTOP IFBE FMFNFOU Q UIFOFXWBMVFJTJHOPSFE
    *O47(EPDVNFOUT UIF 47(%PDVNFOU JOUFSGBDFT UJUMF BUUSJCVUFUBLFTQSFDFEFODF

    0B? ODOG@ ?F?G?HN PGBEPDVNFOUJTUIFИSTU UJUMF Q FMFNFOUJOUIFEPDVNFOU JOUSFFPSEFS


    JGUIFSFJTPOF PSOVMM
    PUIFSXJTF

    5IF ODOG@ BUUSJCVUFNVTU POHFUUJOH SVOUIFGPMMPXJOHBMHPSJUIN

     *GUIF SPPUFMFNFOU Q JTBO TWH Q FMFNFOUJOUIFIUUQXXXXPSHTWHOBNFTQBDF BOEUIFVTFS


    BHFOUTVQQPSUT47( UIFOSFUVSOUIFWBMVFUIBUXPVMEIBWFCFFOSFUVSOFECZUIF*%-BUUSJCVUFPGUIFTBNF
    OBNFPOUIF 47(%PDVNFOU JOUFSGBDF <47(> Q

     0UIFSXJTF MFU E0;D4 CFBDPODBUFOBUJPOPGUIFEBUBPGBMMUIFDIJME UFYUOPEFT Q PG UIF UJUMF FMFNFOU Q JO
    USFFPSEFS Q PSUIFFNQUZTUSJOHJG UIF UJUMF FMFNFOU Q JTOVMM

     3FQMBDFBOZTFRVFODFPGPOFPSNPSFDPOTFDVUJWF TQBDFDIBSBDUFST Q JO E0;D4 XJUIBTJOHMF6 41"$&


    DIBSBDUFS

     3FNPWFBOZMFBEJOHPSUSBJMJOH TQBDFDIBSBDUFST Q JO E0;D4

     3FUVSO E0;D4

    0OTFUUJOH UIFGPMMPXJOHBMHPSJUINNVTUCFSVO.VUBUJPOFWFOUTNVTUCFИSFEBTBQQSPQSJBUF

     *GUIF SPPUFMFNFOU Q JTBO TWH Q FMFNFOUJOUIFIUUQXXXXPSHTWHOBNFTQBDF BOEUIFVTFS


    BHFOUTVQQPSUT47( UIFOUIFTFUUFSNVTUEFGFSUPUIFTFUUFSGPSUIF*%-BUUSJCVUFPGUIFTBNFOBNFPOUIF
    47(%PDVNFOU JOUFSGBDF JGJUJTSFBEPOMZ UIFOUIJTXJMMSBJTFBOFYDFQUJPO
    4UPQUIFBMHPSJUINIFSF <47(> Q

     *G UIF UJUMF FMFNFOU Q JTOVMMBOE UIF IFBE FMFNFOU Q JTOVMM UIFOUIFBUUSJCVUFNVTUEPOPUIJOH4UPQUIF
    BMHPSJUINIFSF

     *G UIF UJUMF FMFNFOU Q JTOVMM UIFOBOFX UJUMF Q FMFNFOUNVTUCFDSFBUFEBOEBQQFOEFEUP UIF IFBE
    FMFNFOU Q -FU 4;4<4=C CFUIBUFMFNFOU0UIFSXJTF MFU 4;4<4=C CF UIF UJUMF FMFNFOU Q 

     5IFDIJMESFOPG 4;4<4=C JGBOZ


    NVTUBMMCFSFNPWFE

     "TJOHMF 5FYU Q OPEFXIPTFEBUBJTUIFOFXWBMVFCFJOHBTTJHOFENVTUCFBQQFOEFEUP 4;4<4=C

    
    5IF UJUMF Q BUUSJCVUFPOUIF )5.-%PDVNFOU Q JOUFSGBDFTIPVMETIBEPXUIFBUUSJCVUFPGUIFTBNFOBNFPOUIF
    47(%PDVNFOU JOUFSGBDFXIFOUIFVTFSBHFOUTVQQPSUTCPUI)5.-BOE47( <47(> Q

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    =H<NF>GM =J?T K 7 O:EN> 8
    3FUVSOT UIFCPEZFMFNFOU Q 
    $BOCFTFU UPSFQMBDF UIFCPEZFMFNFOU Q 
    *GUIFOFXWBMVFJTOPUB CPEZ Q PS GSBNFTFU Q FMFNFOU UIJTXJMMUISPXB )*&3"3$):@3&26&45@&33 Q
    FYDFQUJPO

    0B?<I>S?F?G?HN PGBEPDVNFOUJTUIFИSTUDIJMEPG UIF IUNM FMFNFOU Q UIBUJTFJUIFSB CPEZ Q FMFNFOUPSB
    GSBNFTFU Q FMFNFOU*GUIFSFJTOPTVDIFMFNFOU JUJTOVMM *GUIFCPEZFMFNFOUJTOVMM UIFOXIFOUIFTQFDJИDBUJPO
    SFRVJSFTUIBUFWFOUTCFИSFEBUUIFCPEZFMFNFOU UIFZNVTUJOTUFBECFИSFEBUUIF %PDVNFOU Q PCKFDU

    5IF =J?T BUUSJCVUF POHFUUJOH NVTUSFUVSO UIFCPEZFMFNFOU Q PGUIFEPDVNFOU FJUIFSB CPEZ Q FMFNFOU B
    GSBNFTFU Q FMFNFOU PSOVMM
    0OTFUUJOH UIFGPMMPXJOHBMHPSJUINNVTUCFSVO

     *GUIFOFXWBMVFJTOPUB CPEZ Q PS GSBNFTFU Q FMFNFOU UIFOSBJTFB )*&3"3$):@3&26&45@&33 Q


    FYDFQUJPOBOEBCPSUUIFTFTUFQT

     0UIFSXJTF JGUIFOFXWBMVFJTUIFTBNFBT UIFCPEZFMFNFOU Q EPOPUIJOH"CPSUUIFTFTUFQT

     0UIFSXJTF JG UIFCPEZFMFNFOU Q JTOPUOVMM UIFOSFQMBDFUIBUFMFNFOUXJUIUIFOFXWBMVFJOUIF%0. BTJG


    UIFSPPUFMFNFOUT SFQMBDF$IJME
    NFUIPEIBECFFODBMMFEXJUIUIFOFXWBMVFBOE UIFJODVNCFOUCPEZ
    FMFNFOU Q BTJUTUXPBSHVNFOUTSFTQFDUJWFMZ UIFOBCPSUUIFTFTUFQT

     0UIFSXJTF UIFCPEZFMFNFOU Q JTOVMM"QQFOEUIFOFXWBMVFUPUIFSPPUFMFNFOU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM DH<B@N
    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIF JNH Q FMFNFOUTJOUIF %PDVNFOU Q 

    =H<NF>GM @H=@?N K


    =H<NF>GM KGPBDIN K
    3FUVSOBO )5.-$PMMFDUJPO Q PGUIF FNCFE Q FMFNFOUTJOUIF %PDVNFOU Q 

    =H<NF>GM GDIFN K


    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIF B Q BOE BSFB Q FMFNFOUTJOUIF %PDVNFOU Q UIBUIBWF ISFG Q
    BUUSJCVUFT

    =H<NF>GM AJMHN K


    3FUVSOBO )5.-$PMMFDUJPO Q PGUIF GPSN Q FMFNFOUTJOUIF %PDVNFOU Q 

    =H<NF>GM N>MDKON K


    3FUVSOBO )5.-$PMMFDUJPO Q PGUIF TDSJQU Q FMFNFOUTJOUIF %PDVNFOU Q 

    5IF DH<B@N BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZ
    JNH Q FMFNFOUT

    5IF @H=@?N BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZ
    FNCFE Q FMFNFOUT

    5IF KGPBDIN BUUSJCVUFNVTUSFUVSOUIFTBNFPCKFDUBTUIBUSFUVSOFECZUIF FNCFET Q BUUSJCVUF

    5IF GDIFN BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZ B Q
    FMFNFOUTXJUI ISFG Q BUUSJCVUFTBOE BSFB Q FMFNFOUTXJUI ISFG Q BUUSJCVUFT

    5IF AJMHN BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZ
    GPSN Q FMFNFOUT

    
    5IF N>MDKON BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZ
    TDSJQU Q FMFNFOUT

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <HEE><MBHG  =H<NF>GM B@O#G@H@ION T,<H@ K G:F>
    3FUVSOTB /PEF-JTU Q PGFMFNFOUTJOUIF %PDVNFOU Q UIBUIBWFB OBNF BUUSJCVUFXJUIUIFWBMVF =0<4

    <HEE><MBHG  =H<NF>GM B@O#G@H@ION T!G<NN,<H@<E:LL>L K


    <HEE><MBHG  >E>F>GM B@O#G@H@ION T!G<NN,<H@<E:LL>L K
    3FUVSOTB /PEF-JTU Q PGUIFFMFNFOUTJOUIFPCKFDUPOXIJDIUIFNFUIPEXBTJOWPLFE B %PDVNFOU Q PS
    BO &MFNFOU Q
    UIBUIBWFBMMUIFDMBTTFTHJWFOCZ 2;0BB4B
    5IF 2;0BB4B BSHVNFOUJTJOUFSQSFUFEBTBTQBDFTFQBSBUFEMJTUPGDMBTTFT

    5IF B@O#G@H@ION T,<H@G:F> NFUIPEUBLFTBTUSJOH =0<4 BOENVTUSFUVSOB MJWF Q /PEF-JTU Q DPOUBJOJOHBMMUIF
    )5.-FMFNFOUT Q JOUIBUEPDVNFOUUIBUIBWFB OBNF BUUSJCVUFXIPTFWBMVFJTFRVBMUPUIF =0<4 BSHVNFOU JOB DBTF
    TFOTJUJWF Q NBOOFS
    JO USFFPSEFS Q 8IFOUIFNFUIPEJTJOWPLFEPOB %PDVNFOU Q PCKFDUBHBJOXJUIUIFTBNF
    BSHVNFOU UIFVTFSBHFOUNBZSFUVSOUIFTBNFBTUIFPCKFDUSFUVSOFECZUIFFBSMJFSDBMM*OPUIFSDBTFT BOFX
    /PEF-JTU Q PCKFDUNVTUCFSFUVSOFE

    5IF B@O#G@H@ION T!G<NN,<H@<E:LL,:F>L NFUIPEUBLFTBTUSJOHUIBUDPOUBJOTB TFUPGTQBDFTFQBSBUFEUPLFOT Q


    SFQSFTFOUJOHDMBTTFT8IFODBMMFE UIFNFUIPENVTUSFUVSOB MJWF Q /PEF-JTU Q PCKFDUDPOUBJOJOHBMMUIFFMFNFOUTJO
    UIFEPDVNFOU JO USFFPSEFS Q UIBUIBWFBMMUIFDMBTTFTTQFDJИFEJOUIBUBSHVNFOU IBWJOHPCUBJOFEUIFDMBTTFTCZ
    TQMJUUJOHBTUSJOHPOTQBDFT Q  %VQMJDBUFTBSFJHOPSFE
    *GUIFSFBSFOPUPLFOTTQFDJИFEJOUIFBSHVNFOU UIFOUIF
    NFUIPENVTUSFUVSOBOFNQUZ /PEF-JTU Q *GUIFEPDVNFOUJTJO RVJSLTNPEF Q UIFOUIFDPNQBSJTPOTGPSUIFDMBTTFT
    NVTUCFEPOFJOBO "4$**DBTFJOTFOTJUJWF Q NBOOFS PUIFSXJTF UIFDPNQBSJTPOTNVTUCFEPOFJOB DBTFTFOTJUJWF Q
    NBOOFS8IFOUIFNFUIPEJTJOWPLFEPOB %PDVNFOU Q PCKFDUBHBJOXJUIUIFTBNFBSHVNFOU UIFVTFSBHFOUNBZ
    SFUVSOUIFTBNFPCKFDUBTUIFPCKFDUSFUVSOFECZUIFFBSMJFSDBMM*OPUIFSDBTFT BOFX /PEF-JTU Q PCKFDUNVTUCF
    SFUVSOFE

    5IF B@O#G@H@ION T!G<NN,<H@<E:LL,:F>L NFUIPEPOUIF )5.-&MFNFOU Q JOUFSGBDFNVTUSFUVSOB MJWF Q


    /PEF-JTU Q XJUIUIFOPEFTUIBUUIF )5.-%PDVNFOU Q HFU&MFNFOUT#Z$MBTT/BNF
    Q NFUIPEXPVMESFUVSOXIFO
    QBTTFEUIFTBNFBSHVNFOU T
    FYDMVEJOHBOZFMFNFOUTUIBUBSFOPUEFTDFOEBOUTPGUIF )5.-&MFNFOU Q PCKFDUPO
    XIJDIUIFNFUIPEXBTJOWPLFE8IFOUIFNFUIPEJTJOWPLFEPOBO )5.-&MFNFOU Q PCKFDUBHBJOXJUIUIFTBNF
    BSHVNFOU UIFVTFSBHFOUNBZSFUVSOUIFTBNFPCKFDUBTUIFPCKFDUSFUVSOFECZUIFFBSMJFSDBMM*OPUIFSDBTFT BOFX
    /PEF-JTU Q PCKFDUNVTUCFSFUVSOFE

    )5.- 47( BOE.BUI.-FMFNFOUTEFИOFXIJDIDMBTTFTUIFZBSFJOCZIBWJOHBOBUUSJCVUFXJUIOPOBNFTQBDFXJUIUIF


    OBNF DMBTT DPOUBJOJOHBTQBDFTFQBSBUFEMJTUPGDMBTTFTUPXIJDIUIFFMFNFOUCFMPOHT0UIFSTQFDJИDBUJPOTNBZBMTP
    BMMPXFMFNFOUTJOUIFJSOBNFTQBDFTUPCFMBCFMFEBTCFJOHJOTQFDJИDDMBTTFT

    (JWFOUIFGPMMPXJOH9)5.-GSBHNFOU

    EJWJEFYBNQMF
    QJEQDMBTTBBBCCC
    QJEQDMBTTBBBDDD
    QJEQDMBTTCCCDDD
    EJW

    "DBMMUP EPDVNFOUHFU&MFNFOU#Z*E FYBNQMF


    HFU&MFNFOUT#Z$MBTT/BNF BBB
    XPVMESFUVSOB
    /PEF-JTU Q XJUIUIFUXPQBSBHSBQIT Q BOE Q JOJU

    "DBMMUP HFU&MFNFOUT#Z$MBTT/BNF DDD CCC


    XPVMEPOMZSFUVSOPOFOPEF IPXFWFS OBNFMZ Q"DBMMUP
    EPDVNFOUHFU&MFNFOU#Z*E FYBNQMF
    HFU&MFNFOUT#Z$MBTT/BNF CCC DDD 
    XPVMESFUVSOUIFTBNF
    UIJOH

    "DBMMUP HFU&MFNFOUT#Z$MBTT/BNF BBB CCC


    XPVMESFUVSOOPOPEFTOPOFPGUIFFMFNFOUTBCPWFBSFJOUIF
    BBB CCCDMBTT

    5IF )5.-%PDVNFOU Q JOUFSGBDF TVQQPSUTOBNFEQSPQFSUJFT5IF OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT BUBOZ


    NPNFOUDPOTJTUPGUIFWBMVFTPGUIF OBNF DPOUFOUBUUSJCVUFTPGBMMUIF BQQMFU Q FNCFE Q GPSN Q JGSBNF Q
    JNH Q BOE GBMMCBDLGSFF Q PCKFDU Q FMFNFOUTJOUIF %PDVNFOU Q UIBUIBWF OBNF DPOUFOUBUUSJCVUFT BOEUIFWBMVFT
    PGUIF JE Q DPOUFOUBUUSJCVUFTPGBMMUIF BQQMFU Q BOE GBMMCBDLGSFF Q PCKFDU Q FMFNFOUTJOUIF %PDVNFOU Q UIBU

    
    IBWF JE Q DPOUFOUBUUSJCVUFT BOEUIFWBMVFTPGUIF JE Q DPOUFOUBUUSJCVUFTPGBMMUIF JNH Q FMFNFOUTJOUIF
    %PDVNFOU Q UIBUIBWFCPUI OBNF DPOUFOUBUUSJCVUFTBOE JE Q DPOUFOUBUUSJCVUFT

    8IFO NB? &2+*"J>PH@IO I<D?=NCMCH>?R?>@ILJLIJ?LNSL?NLC?P;F VTJOHBOBNF =0<4 UIFOUIFVTFSBHFOUNVTU


    SFUVSOUIFWBMVFPCUBJOFEVTJOHUIFGPMMPXJOHTUFQT

     -FU 4;4<4=CB CFUIFMJTUPG OBNFEFMFNFOUT Q XJUIUIFOBNF =0<4 JOUIF %PDVNFOU Q 

    *HM> 0A>K>PBEE;>:ME>:LMHG>LN<A>E>F>GM ;R=>[GBMBHG

     *G 4;4<4=CB IBTPOMZPOFFMFNFOU BOEUIBUFMFNFOUJTBO JGSBNF Q FMFNFOU UIFOSFUVSOUIF


    8JOEPX1SPYZ Q PCKFDUPGUIF OFTUFECSPXTJOHDPOUFYU Q SFQSFTFOUFECZUIBU JGSBNF Q FMFNFOU BOE
    BCPSUUIFTFTUFQT

     0UIFSXJTF JG 4;4<4=CB IBTPOMZPOFFMFNFOU SFUVSOUIBUFMFNFOUBOEBCPSUUIFTFTUFQT

     0UIFSXJTFSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZ OBNFE


    FMFNFOUT Q XJUIUIFOBNF =0<4

    *;G?>?F?G?HNM XJUIUIFOBNF =0<4 GPSUIFQVSQPTFTPGUIFBCPWFBMHPSJUIN BSFUIPTFUIBUBSFFJUIFS

    Ǭ BQQMFU Q FNCFE Q GPSN Q JGSBNF Q JNH Q PS GBMMCBDLGSFF Q PCKFDU Q FMFNFOUTUIBUIBWFB OBNF
    DPOUFOUBUUSJCVUFXIPTFWBMVFJT =0<4 PS

    Ǭ BQQMFU Q PS GBMMCBDLGSFF Q PCKFDU Q FMFNFOUTUIBUIBWFBO JE Q DPOUFOUBUUSJCVUFXIPTFWBMVFJT =0<4
    PS

    Ǭ JNH Q FMFNFOUTUIBUIBWFBO JE Q DPOUFOUBUUSJCVUFXIPTFWBMVFJT =0<4 BOEUIBUIBWFB OBNF DPOUFOU


    BUUSJCVUFQSFTFOUBMTP

    "O PCKFDU Q FMFNFOUJTTBJEUPCF @;FF<;=E @L?? JGJUIBTOP PCKFDU Q PS FNCFE Q EFTDFOEBOUT

    *HM> 0A> =BK I :MMKB;NM>HGMA> '2+*#H<NF>GM I BGM>K?:<>BL=>[G>=:EHG@PBMAMA> =BK I <HGM>GM
    :MMKB;NM>

       L?;NCHA>I=OG?HNM

    9.-EPDVNFOUT Q DBOCFDSFBUFEGSPNTDSJQUVTJOHUIF DSFBUF%PDVNFOU


    Q NFUIPEPOUIF %0.*NQMFNFOUBUJPO Q
    JOUFSGBDF

    )5.-EPDVNFOUT Q DBOCFDSFBUFEVTJOHUIF DSFBUF)5.-%PDVNFOU


    Q NFUIPE

    <4VQQMFNFOUBM /P*OUFSGBDF0CKFDU>
    JOUFSGBDF "-+&2+*'HKG@H@IO<ODJI \
    %PDVNFOU DSFBUF)5.-%PDVNFOU JO%0.4USJOHUJUMF
    
    ^
    %0.*NQMFNFOUBUJPO JNQMFNFOUT %0.)5.-*NQMFNFOUBUJPO

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    =H<NF>GM  =H<NF>GM DHKG@H@IO<ODJI >M@<O@&2+*"J>PH@IO K  MBME> 
    3FUVSOTBOFX %PDVNFOU Q XJUIBCBTJD%0.BMSFBEZDPOTUSVDUFEXJUIBOBQQSPQSJBUF UJUMF Q FMFNFOU

    5IF >M@<O@&2+*"J>PH@IOMBME> NFUIPE XIFOJOWPLFE NVTUSVOUIFGPMMPXJOHTUFQT

     -FU 3>2 CFBOFXMZDSFBUFE %PDVNFOU Q PCKFDU

     .BSL 3>2 BTCFJOHBO )5.-EPDVNFOU Q 

     $SFBUFB %PDVNFOU5ZQF Q OPEFXJUIUIF OBNF BUUSJCVUFTFUUPUIFTUSJOHIUNM BOEUIFPUIFSBUUSJCVUFT


    TQFDJИDUP %PDVNFOU5ZQF Q PCKFDUTTFUUPUIFFNQUZTUSJOH OVMM BOEFNQUZMJTUT BTBQQSPQSJBUF"QQFOEUIF
    OFXMZDSFBUFEOPEFUP 3>2

     $SFBUFBO IUNM Q FMFNFOU BOEBQQFOEJUUP 3>2

    
     $SFBUFB IFBE Q FMFNFOU BOEBQQFOEJUUPUIF IUNM Q FMFNFOUDSFBUFEJOUIFQSFWJPVTTUFQ

     $SFBUFB UJUMF Q FMFNFOU BOEBQQFOEJUUPUIF IFBE Q FMFNFOUDSFBUFEJOUIFQSFWJPVTTUFQ

     $SFBUFB 5FYU Q OPEF BOETFUJUT EBUB BUUSJCVUFUPUIFTUSJOHHJWFOCZUIFNFUIPETBSHVNFOU XIJDIDPVME


    CFUIFFNQUZTUSJOH
    "QQFOEJUUPUIF UJUMF Q FMFNFOUDSFBUFEJOUIFQSFWJPVTTUFQ

     $SFBUFB CPEZ Q FMFNFOU BOEBQQFOEJUUPUIF IUNM Q FMFNFOUDSFBUFEJOUIFFBSMJFSTUFQ

     3FUVSO 3>2

      !F?G?HNM

       /?G;HNC=M

    &MFNFOUT BUUSJCVUFT BOEBUUSJCVUFWBMVFTJO)5.-BSFEFИOFE CZUIJTTQFDJИDBUJPO


    UPIBWFDFSUBJONFBOJOHT
    TFNBOUJDT
    'PSFYBNQMF UIF PM Q FMFNFOUSFQSFTFOUTBOPSEFSFEMJTU BOEUIF MBOH Q BUUSJCVUFSFQSFTFOUTUIF
    MBOHVBHFPGUIFDPOUFOU

    "VUIPSTNVTUOPUVTFFMFNFOUT BUUSJCVUFT PSBUUSJCVUFWBMVFTGPSQVSQPTFTPUIFSUIBOUIFJSBQQSPQSJBUFJOUFOEFE


    TFNBOUJDQVSQPTF"VUIPSTNVTUOPUVTFFMFNFOUT BUUSJCVUFT PSBUUSJCVUFWBMVFTUIBUBSFOPUQFSNJUUFECZUIJT
    TQFDJИDBUJPOPS PUIFSBQQMJDBCMFTQFDJИDBUJPOT Q 

    'PSFYBNQMF UIFGPMMPXJOHEPDVNFOUJTOPODPOGPSNJOH EFTQJUFCFJOHTZOUBDUJDBMMZDPSSFDU

    %0$5:1&)5.-
    IUNMMBOHFO(#
    IFBEUJUMF%FNPOTUSBUJPOUJUMFIFBE
    CPEZ
    UBCMF
    USUE.ZGBWPVSJUFBOJNBMJTUIFDBUUEUS
    US
    UE
    zBISFGIUUQFYBNQMFPSH_FSOFTUDJUF&SOFTUDJUFB
    JOBOFTTBZGSPN
    UE
    US
    UBCMF
    CPEZ
    IUNM

    CFDBVTFUIFEBUBQMBDFEJOUIFDFMMTJTDMFBSMZOPUUBCVMBSEBUB BOEUIF DJUF Q FMFNFOUNJTVTFE


    "
    DPSSFDUFEWFSTJPOPGUIJTEPDVNFOUNJHIUCF

    %0$5:1&)5.-
    IUNMMBOHFO(#
    IFBEUJUMF%FNPOTUSBUJPOUJUMFIFBE
    CPEZ
    CMPDLRVPUF
    Q.ZGBWPVSJUFBOJNBMJTUIFDBUQ
    CMPDLRVPUF
    Q
    zBISFGIUUQFYBNQMFPSH_FSOFTU&SOFTUB
    JOBOFTTBZGSPN
    Q
    CPEZ
    IUNM

    5IJTOFYUEPDVNFOUGSBHNFOU JOUFOEFEUPSFQSFTFOUUIFIFBEJOHPGBDPSQPSBUFTJUF JTTJNJMBSMZOPODPOGPSNJOH


    CFDBVTFUIFTFDPOEMJOFJTOPUJOUFOEFEUPCFBIFBEJOHPGBTVCTFDUJPO CVUNFSFMZBTVCIFBEJOHPSTVCUJUMF B
    TVCPSEJOBUFIFBEJOHGPSUIFTBNFTFDUJPO
    

    CPEZ
    I"#$$PNQBOZI
    I-FBEJOHUIFXBZJOXJEHFUEFTJHOTJODFI
    

    
    5IF IHSPVQ Q FMFNFOUJTJOUFOEFEGPSUIFTFLJOETPGTJUVBUJPOT

    CPEZ
    IHSPVQ
    I"#$$PNQBOZI
    I-FBEJOHUIFXBZJOXJEHFUEFTJHOTJODFI
    IHSPVQ
    

    *OUIFOFYUFYBNQMF UIFSFJTBOPODPOGPSNJOHBUUSJCVUFWBMVF DBSQFU


    BOEBOPODPOGPSNJOHBUUSJCVUF
    UFYUVSF
    XIJDIJTOPUQFSNJUUFECZUIJTTQFDJИDBUJPO

    MBCFM$BSQFUJOQVUUZQFDBSQFUOBNFDUFYUVSFEFFQQJMFMBCFM

    )FSFXPVMECFBOBMUFSOBUJWFBOEDPSSFDUXBZUPNBSLUIJTVQ

    MBCFM$BSQFUJOQVUUZQFUFYUDMBTTDBSQFUOBNFDEBUBUFYUVSFEFFQ
    QJMFMBCFM

    5ISPVHITDSJQUJOHBOEVTJOHPUIFSNFDIBOJTNT UIFWBMVFTPGBUUSJCVUFT UFYU BOEJOEFFEUIFFOUJSFTUSVDUVSFPGUIF


    EPDVNFOUNBZDIBOHFEZOBNJDBMMZXIJMFBVTFSBHFOUJTQSPDFTTJOHJU5IFTFNBOUJDTPGBEPDVNFOUBUBOJOTUBOUJO
    UJNFBSFUIPTFSFQSFTFOUFECZUIFTUBUFPGUIFEPDVNFOUBUUIBUJOTUBOUJOUJNF BOEUIFTFNBOUJDTPGBEPDVNFOUDBO
    UIFSFGPSFDIBOHFPWFSUJNF6TFSBHFOUT NVTU VQEBUFUIFJSQSFTFOUBUJPOPGUIFEPDVNFOUBTUIJTPDDVST

    )5.-IBTB QSPHSFTT Q FMFNFOUUIBUEFTDSJCFTBQSPHSFTTCBS*GJUTWBMVFBUUSJCVUFJTEZOBNJDBMMZVQEBUFE


    CZBTDSJQU UIF6"XPVMEVQEBUFUIFSFOEFSJOHUPTIPXUIFQSPHSFTTDIBOHJOH

       !F?G?HNMCHNB? +)

    5IFOPEFTSFQSFTFOUJOH )5.-FMFNFOUT Q JOUIF%0. NVTU JNQMFNFOU BOEFYQPTFUPTDSJQUT UIFJOUFSGBDFTMJTUFEGPS


    UIFNJOUIFSFMFWBOUTFDUJPOTPGUIJTTQFDJИDBUJPO5IJTJODMVEFT )5.-FMFNFOUT Q JO 9.-EPDVNFOUT Q FWFOXIFO
    UIPTFEPDVNFOUTBSFJOBOPUIFSDPOUFYU FHJOTJEFBO94-5USBOTGPSN
    

    &MFNFOUTJOUIF%0. SFQSFTFOU Q UIJOHTUIBUJT UIFZIBWFJOUSJOTJD <40=8=6 BMTPLOPXOBTTFNBOUJDT

    'PSFYBNQMF BO PM Q FMFNFOUSFQSFTFOUTBOPSEFSFEMJTU

    5IFCBTJDJOUFSGBDF GSPNXIJDIBMMUIF )5.-FMFNFOUT Q JOUFSGBDFTJOIFSJU BOEXIJDINVTUCFVTFECZFMFNFOUTUIBU


    IBWFOPBEEJUJPOBMSFRVJSFNFOUT JTUIF )5.-&MFNFOU Q JOUFSGBDF

    JOUFSGBDF &2+*#G@H@IO  &MFNFOU \


     %0.USFFBDDFTTPST
    /PEF-JTU HFU&MFNFOUT#Z$MBTT/BNF JO%0.4USJOHDMBTT/BNFT
    

     EZOBNJDNBSLVQJOTFSUJPO
    BUUSJCVUF%0.4USJOH JOOFS)5.-
    BUUSJCVUF%0.4USJOH PVUFS)5.-
    WPJE JOTFSU"EKBDFOU)5.- JO%0.4USJOHQPTJUJPO JO%0.4USJOHUFYU
    

     NFUBEBUBBUUSJCVUFT
    BUUSJCVUF%0.4USJOH JE
    BUUSJCVUF%0.4USJOH UJUMF
    BUUSJCVUF%0.4USJOH MBOH
    BUUSJCVUF%0.4USJOH EJS
    BUUSJCVUF %0.4USJOH DMBTT/BNF
    SFBEPOMZBUUSJCVUF %0.5PLFO-JTU DMBTT-JTU
    SFBEPOMZBUUSJCVUF %0.4USJOH.BQ EBUBTFU

     NJDSPEBUB
    BUUSJCVUFCPPMFBO JUFN4DPQF
    BUUSJCVUF%0.4USJOH JUFN5ZQF
    BUUSJCVUF%0.4USJOH JUFN*E
    <1VU'PSXBSETWBMVF>SFBEPOMZBUUSJCVUF %0.4FUUBCMF5PLFO-JTU JUFN3FG
    <1VU'PSXBSETWBMVF>SFBEPOMZBUUSJCVUF %0.4FUUBCMF5PLFO-JTU JUFN1SPQ
    SFBEPOMZBUUSJCVUF )5.-1SPQFSUJFT$PMMFDUJPO QSPQFSUJFT
    BUUSJCVUFBOZ JUFN7BMVF

    
     VTFSJOUFSBDUJPO
    BUUSJCVUFCPPMFBO IJEEFO
    WPJE DMJDL
    
    WPJE TDSPMM*OUP7JFX
    
    WPJE TDSPMM*OUP7JFX JOCPPMFBOUPQ
    
    BUUSJCVUFMPOH UBC*OEFY
    WPJE GPDVT
    
    WPJE CMVS
    
    BUUSJCVUF%0.4USJOH BDDFTT,FZ
    SFBEPOMZBUUSJCVUF%0.4USJOH BDDFTT,FZ-BCFM
    BUUSJCVUFCPPMFBO ESBHHBCMF
    BUUSJCVUF%0.4USJOH DPOUFOU&EJUBCMF
    SFBEPOMZBUUSJCVUFCPPMFBO JT$POUFOU&EJUBCMF
    BUUSJCVUF )5.-.FOV&MFNFOU DPOUFYU.FOV
    BUUSJCVUF%0.4USJOH TQFMMDIFDL

     DPNNBOE"1*
    SFBEPOMZBUUSJCVUF%0.4USJOH DPNNBOE5ZQF
    SFBEPOMZBUUSJCVUF%0.4USJOH MBCFM
    SFBEPOMZBUUSJCVUF%0.4USJOH JDPO
    SFBEPOMZBUUSJCVUFCPPMFBO EJTBCMFE
    SFBEPOMZBUUSJCVUFCPPMFBO DIFDLFE

     TUZMJOH
    SFBEPOMZBUUSJCVUF $444UZMF%FDMBSBUJPO TUZMF

     FWFOUIBOEMFS*%-BUUSJCVUFT
    BUUSJCVUF 'VODUJPO POBCPSU
    BUUSJCVUF 'VODUJPO POCMVS
    BUUSJCVUF 'VODUJPO PODBOQMBZ
    BUUSJCVUF 'VODUJPO PODBOQMBZUISPVHI
    BUUSJCVUF 'VODUJPO PODIBOHF
    BUUSJCVUF 'VODUJPO PODMJDL
    BUUSJCVUF 'VODUJPO PODPOUFYUNFOV
    BUUSJCVUF 'VODUJPO POECMDMJDL
    BUUSJCVUF 'VODUJPO POESBH
    BUUSJCVUF 'VODUJPO POESBHFOE
    BUUSJCVUF 'VODUJPO POESBHFOUFS
    BUUSJCVUF 'VODUJPO POESBHMFBWF
    BUUSJCVUF 'VODUJPO POESBHPWFS
    BUUSJCVUF 'VODUJPO POESBHTUBSU
    BUUSJCVUF 'VODUJPO POESPQ
    BUUSJCVUF 'VODUJPO POEVSBUJPODIBOHF
    BUUSJCVUF 'VODUJPO POFNQUJFE
    BUUSJCVUF 'VODUJPO POFOEFE
    BUUSJCVUF 'VODUJPO POFSSPS
    BUUSJCVUF 'VODUJPO POGPDVT
    BUUSJCVUF 'VODUJPO POGPSNDIBOHF
    BUUSJCVUF 'VODUJPO POGPSNJOQVU
    BUUSJCVUF 'VODUJPO POJOQVU
    BUUSJCVUF 'VODUJPO POJOWBMJE
    BUUSJCVUF 'VODUJPO POLFZEPXO
    BUUSJCVUF 'VODUJPO POLFZQSFTT
    BUUSJCVUF 'VODUJPO POLFZVQ
    BUUSJCVUF 'VODUJPO POMPBE
    BUUSJCVUF 'VODUJPO POMPBEFEEBUB
    BUUSJCVUF 'VODUJPO POMPBEFENFUBEBUB
    BUUSJCVUF 'VODUJPO POMPBETUBSU
    BUUSJCVUF 'VODUJPO PONPVTFEPXO
    BUUSJCVUF 'VODUJPO PONPVTFNPWF
    BUUSJCVUF 'VODUJPO PONPVTFPVU
    BUUSJCVUF 'VODUJPO PONPVTFPWFS

    
    BUUSJCVUF 'VODUJPO PONPVTFVQ
    BUUSJCVUF 'VODUJPO PONPVTFXIFFM
    BUUSJCVUF 'VODUJPO POQBVTF
    BUUSJCVUF 'VODUJPO POQMBZ
    BUUSJCVUF 'VODUJPO POQMBZJOH
    BUUSJCVUF 'VODUJPO POQSPHSFTT
    BUUSJCVUF 'VODUJPO POSBUFDIBOHF
    BUUSJCVUF 'VODUJPO POSFBEZTUBUFDIBOHF
    BUUSJCVUF 'VODUJPO POTDSPMM
    BUUSJCVUF 'VODUJPO POTFFLFE
    BUUSJCVUF 'VODUJPO POTFFLJOH
    BUUSJCVUF 'VODUJPO POTFMFDU
    BUUSJCVUF 'VODUJPO POTIPX
    BUUSJCVUF 'VODUJPO POTUBMMFE
    BUUSJCVUF 'VODUJPO POTVCNJU
    BUUSJCVUF 'VODUJPO POTVTQFOE
    BUUSJCVUF 'VODUJPO POUJNFVQEBUF
    BUUSJCVUF 'VODUJPO POWPMVNFDIBOHF
    BUUSJCVUF 'VODUJPO POXBJUJOH
    ^

    JOUFSGBDF &2+*3IFIJRI#G@H@IO  )5.-&MFNFOU \^

    5IF )5.-&MFNFOU Q JOUFSGBDFIPMETNFUIPETBOEBUUSJCVUFTSFMBUFEUPBOVNCFSPGEJTQBSBUFGFBUVSFT BOEUIF


    NFNCFSTPGUIJTJOUFSGBDFBSFUIFSFGPSFEFTDSJCFEJOWBSJPVTEJЗFSFOUTFDUJPOTPGUIJTTQFDJИDBUJPO

    5IF )5.-6OLOPXO&MFNFOU Q JOUFSGBDFNVTUCFVTFEGPS )5.-FMFNFOUT Q UIBUBSFOPUEFИOFECZUIJTTQFDJИDBUJPO PS


    PUIFSBQQMJDBCMFTQFDJИDBUJPOT Q
    

       #FI<;F;NNLC<ON?M

    5IFGPMMPXJOHBUUSJCVUFTBSFDPNNPOUPBOENBZCFTQFDJИFEPOBMM )5.-FMFNFOUT Q FWFOUIPTFOPUEFИOFEJOUIJT


    TQFDJИDBUJPO
    

    Ǭ BDDFTTLFZ Q
    Ǭ DMBTT Q
    Ǭ DPOUFOUFEJUBCMF Q
    Ǭ DPOUFYUNFOV Q
    Ǭ EJS Q
    Ǭ ESBHHBCMF Q
    Ǭ IJEEFO Q
    Ǭ JE Q
    Ǭ JUFNJE Q
    Ǭ JUFNQSPQ Q
    Ǭ JUFNSFG Q
    Ǭ JUFNTDPQF Q
    Ǭ JUFNUZQF Q
    Ǭ MBOH Q
    Ǭ TQFMMDIFDL Q
    Ǭ TUZMF Q
    Ǭ UBCJOEFY Q
    Ǭ UJUMF Q

    5IFGPMMPXJOH FWFOUIBOEMFSDPOUFOUBUUSJCVUFT Q NBZCFTQFDJИFEPOBOZ )5.-FMFNFOU Q 

    Ǭ POBCPSU Q
    Ǭ POCMVS Q
    Ǭ PODBOQMBZ Q
    Ǭ PODBOQMBZUISPVHI Q
    Ǭ PODIBOHF Q
    Ǭ PODMJDL Q
    Ǭ PODPOUFYUNFOV Q
    Ǭ POECMDMJDL Q
    Ǭ POESBH Q
    Ǭ POESBHFOE Q
    Ǭ POESBHFOUFS Q

    
    Ǭ POESBHMFBWF Q
    Ǭ POESBHPWFS Q
    Ǭ POESBHTUBSU Q
    Ǭ POESPQ Q
    Ǭ POEVSBUJPODIBOHF Q
    Ǭ POFNQUJFE Q
    Ǭ POFOEFE Q
    Ǭ POFSSPS Q
    Ǭ POGPDVT Q
    Ǭ POGPSNDIBOHF Q
    Ǭ POGPSNJOQVU Q
    Ǭ POJOQVU Q
    Ǭ POJOWBMJE Q
    Ǭ POLFZEPXO Q
    Ǭ POLFZQSFTT Q
    Ǭ POLFZVQ Q
    Ǭ POMPBE Q
    Ǭ POMPBEFEEBUB Q
    Ǭ POMPBEFENFUBEBUB Q
    Ǭ POMPBETUBSU Q
    Ǭ PONPVTFEPXO Q
    Ǭ PONPVTFNPWF Q
    Ǭ PONPVTFPVU Q
    Ǭ PONPVTFPWFS Q
    Ǭ PONPVTFVQ Q
    Ǭ PONPVTFXIFFM Q
    Ǭ POQBVTF Q
    Ǭ POQMBZ Q
    Ǭ POQMBZJOH Q
    Ǭ POQSPHSFTT Q
    Ǭ POSBUFDIBOHF Q
    Ǭ POSFBEZTUBUFDIBOHF Q
    Ǭ POTDSPMM Q
    Ǭ POTFFLFE Q
    Ǭ POTFFLJOH Q
    Ǭ POTFMFDU Q
    Ǭ POTIPX Q
    Ǭ POTUBMMFE Q
    Ǭ POTVCNJU Q
    Ǭ POTVTQFOE Q
    Ǭ POUJNFVQEBUF Q
    Ǭ POWPMVNFDIBOHF Q
    Ǭ POXBJUJOH Q

    *HM> 0A>:MMKB;NM>LF:KD>=PBMA:G:LM>KBLDA:O>:=BZ>K>GMF>:GBG@PA>GLI><B[>=HG ;H=R I


    >E>F>GML:LMAHL>>E>F>GML>QIHL> >O>GMA:G=E>KL I H?MA> 5BG=HP I H;C><MPBMAMA>L:F>
    G:F>L

    *HM> 3ABE>MA>L>:MMKB;NM>L:IIERMH:EE>E>F>GML MA>R:K>GHMNL>?NEHG:EE>E>F>GML "HK


    >Q:FIE> HGER F>=B:>E>F>GML I PBEE>O>KK><>BO>: OHENF><A:G@> I >O>GM[K>=;RMA>NL>K
    :@>GM

    $VTUPNEBUBBUUSJCVUFT Q FH EBUBGPMEFSOBNF PS EBUBNTHJE


    DBOCFTQFDJИFEPOBOZ )5.-FMFNFOU Q UPTUPSF
    DVTUPNEBUBTQFDJИDUPUIFQBHF

    *O )5.-EPDVNFOUT Q FMFNFOUTJOUIF )5.-OBNFTQBDF Q NBZIBWFBO YNMOT BUUSJCVUFTQFDJИFE JG BOEPOMZJG JU
    IBTUIFFYBDUWBMVFIUUQXXXXPSHYIUNM5IJTEPFTOPUBQQMZUP 9.-EPDVNFOUT Q 

    *HM> %G$0)( MA> QFEGL :MMKB;NM>A:L:;LHENM>ERGH>Z><M %MBL;:LB<:EER:M:EBLF:G %MBL:EEHP>=


    F>K>ERMHF:D>FB@K:MBHGMH:G=?KHF4$0)(FBE=ER>:LB>K 3A>GI:KL>=;R:G $0)(I:KL>K I
    MA>:MMKB;NM>>G=LNIBGGHG:F>LI:<> GHMMA>AMMIPPP P HK@QFEGLG:F>LI:<>EBD>
    G:F>LI:<>=><E:K:MBHG:MMKB;NM>LBG4)(=H

    *HM> %G4)( :G QFEGL :MMKB;NM>BLI:KMH?MA>G:F>LI:<>=><E:K:MBHGF><A:GBLF :G=:G>E>F>GM


    <:GGHM:<MN:EERA:O>:G QFEGL :MMKB;NM>BGGHG:F>LI:<>LI><B[>=

    
    5PFOBCMFBTTJTUJWFUFDIOPMPHZQSPEVDUTUPFYQPTFBNPSFИOFHSBJOFEJOUFSGBDFUIBOJTPUIFSXJTFQPTTJCMFXJUI)5.-
    FMFNFOUTBOEBUUSJCVUFT BTFUPG BOOPUBUJPOTGPSBTTJTUJWFUFDIOPMPHZQSPEVDUT Q DBOCFTQFDJИFE UIF"3*" SPMF BOE
    BSJB BUUSJCVUFT
    

        0B? D? ;NNLC<ON?

    5IF JE Q BUUSJCVUFTQFDJИFTJUTFMFNFOUT OHCKO?C>?HNC]?L% 5IFWBMVFNVTUCFVOJRVFBNPOHTUBMMUIF*%TJOUIF


    FMFNFOUT IPNFTVCUSFF Q BOENVTUDPOUBJOBUMFBTUPOFDIBSBDUFS5IFWBMVFNVTUOPUDPOUBJOBOZ TQBDF
    DIBSBDUFST Q 

    *HM> G>E>F>GML NGBJN>B=>GMB[>K I <:G;>NL>=?HK:O:KB>MRH?INKIHL>L FHLMGHM:;ER:L:


    P:RMHEBGDMHLI><B[<I:KMLH?:=H<NF>GMNLBG@?K:@F>GMB=>GMB[>KL :L:P:RMHM:K@>M:G
    >E>F>GMPA>GL<KBIMBG@ :G=:L:P:RMHLMRE>:LI><B[<>E>F>GM?KHF//

    *GUIFWBMVFJTOPUUIFFNQUZTUSJOH VTFSBHFOUTNVTUBTTPDJBUFUIFFMFNFOUXJUIUIFHJWFOWBMVF FYBDUMZ JODMVEJOH


    BOZTQBDFDIBSBDUFST
    GPSUIFQVSQPTFTPG*%NBUDIJOHXJUIJOUIFFMFNFOUT IPNFTVCUSFF Q FHGPSTFMFDUPSTJO$44
    PSGPSUIF HFU&MFNFOU#Z*E
    Q NFUIPEJOUIF%0.
    

    *EFOUJИFSTBSFPQBRVFTUSJOHT1BSUJDVMBSNFBOJOHTTIPVMEOPUCFEFSJWFEGSPNUIFWBMVFPGUIF JE Q BUUSJCVUF

    5IJTTQFDJИDBUJPOEPFTOUQSFDMVEFBOFMFNFOUIBWJOHNVMUJQMF*%T JGPUIFSNFDIBOJTNT FH%0.$PSFNFUIPET


    DBO
    TFUBOFMFNFOUT*%JOBXBZUIBUEPFTOUDPOЙJDUXJUIUIF JE Q BUUSJCVUF

    5IF D? *%-BUUSJCVUFNVTU SFЙFDU Q UIF JE Q DPOUFOUBUUSJCVUF

        0B? ODOG@ ;NNLC<ON?

    5IF UJUMF Q BUUSJCVUF SFQSFTFOUT Q BEWJTPSZJOGPSNBUJPOGPSUIFFMFNFOU TVDIBTXPVMECFBQQSPQSJBUFGPSBUPPMUJQ


    0OBMJOL UIJTDPVMECFUIFUJUMFPSBEFTDSJQUJPOPGUIFUBSHFUSFTPVSDFPOBOJNBHF JUDPVMECFUIFJNBHFDSFEJUPSB
    EFTDSJQUJPOPGUIFJNBHFPOBQBSBHSBQI JUDPVMECFBGPPUOPUFPSDPNNFOUBSZPOUIFUFYUPOBDJUBUJPO JUDPVMECF
    GVSUIFSJOGPSNBUJPOBCPVUUIFTPVSDFBOETPGPSUI5IFWBMVFJTUFYU

    *GUIJTBUUSJCVUFJTPNJUUFEGSPNBOFMFNFOU UIFOJUJNQMJFTUIBUUIF UJUMF Q BUUSJCVUFPGUIFOFBSFTUBODFTUPS )5.-


    FMFNFOU Q XJUIB UJUMF Q BUUSJCVUFTFUJTBMTPSFMFWBOUUPUIJTFMFNFOU4FUUJOHUIFBUUSJCVUFPWFSSJEFTUIJT FYQMJDJUMZ
    TUBUJOHUIBUUIFBEWJTPSZJOGPSNBUJPOPGBOZBODFTUPSTJTOPUSFMFWBOUUPUIJTFMFNFOU4FUUJOHUIFBUUSJCVUFUPUIF
    FNQUZTUSJOHJOEJDBUFTUIBUUIFFMFNFOUIBTOPBEWJTPSZJOGPSNBUJPO

    *GUIF UJUMF Q BUUSJCVUFTWBMVFDPOUBJOT6 "-*/&'&&% -'


    DIBSBDUFST UIFDPOUFOUJTTQMJUJOUPNVMUJQMFMJOFT
    &BDI6 "-*/&'&&% -'
    DIBSBDUFSSFQSFTFOUTBMJOFCSFBL

    $BVUJPOJTBEWJTFEXJUISFTQFDUUPUIFVTFPGOFXMJOFTJO UJUMF Q BUUSJCVUFT

    'PSJOTUBODF UIFGPMMPXJOHTOJQQFUBDUVBMMZEFИOFTBOBCCSFWJBUJPOTFYQBOTJPO F8C70;8=41A40:8=8C

    Q.ZMPHTTIPXUIBUUIFSFXBTTPNFJOUFSFTUJOBCCSUJUMF)ZQFSUFYU
    5SBOTQPSU1SPUPDPM)551BCCSUPEBZQ

    4PNFFMFNFOUT TVDIBT MJOL Q BCCS Q BOE JOQVU Q EFИOFBEEJUJPOBMTFNBOUJDTGPSUIF UJUMF Q BUUSJCVUF
    CFZPOEUIFTFNBOUJDTEFTDSJCFEBCPWF

    5IF ODOG@ *%-BUUSJCVUFNVTU SFЙFDU Q UIF UJUMF Q DPOUFOUBUUSJCVUF

        0B? G<IB K ;H> SHGG<IB K ;NNLC<ON?M

    5IF G<IB BUUSJCVUF JOOPOBNFTQBDF


    TQFDJИFTUIFQSJNBSZMBOHVBHFGPSUIFFMFNFOUTDPOUFOUTBOEGPSBOZPGUIF
    FMFNFOUTBUUSJCVUFTUIBUDPOUBJOUFYU*UTWBMVFNVTUCFBWBMJE#$1MBOHVBHFDPEF PSUIFFNQUZTUSJOH4FUUJOHUIF
    BUUSJCVUFUPUIFFNQUZTUSJOHJOEJDBUFTUIBUUIFQSJNBSZMBOHVBHFJTVOLOPXO <#$1> Q

    5IF G<IB BUUSJCVUFJOUIF 9.-OBNFTQBDF Q JTEFИOFEJO9.- <9.-> Q

    *GUIFTFBUUSJCVUFTBSFPNJUUFEGSPNBOFMFNFOU UIFOUIFMBOHVBHFPGUIJTFMFNFOUJTUIFTBNFBTUIFMBOHVBHFPGJUT
    QBSFOUFMFNFOU JGBOZ

    5IF MBOH Q BUUSJCVUFJOOPOBNFTQBDFNBZCFVTFEPOBOZ )5.-FMFNFOU Q 

    
    5IF MBOH BUUSJCVUFJOUIF 9.-OBNFTQBDF Q NBZCFVTFEPO )5.-FMFNFOUT Q JO 9.-EPDVNFOUT Q BTXFMMBT
    FMFNFOUTJOPUIFSOBNFTQBDFTJGUIFSFMFWBOUTQFDJИDBUJPOTBMMPXJU JOQBSUJDVMBS .BUI.-BOE47(BMMPX MBOH
    BUUSJCVUFTJOUIF 9.-OBNFTQBDF Q UPCFTQFDJИFEPOUIFJSFMFNFOUT
    *GCPUIUIF MBOH Q BUUSJCVUFJOOPOBNFTQBDF
    BOEUIF MBOH BUUSJCVUFJOUIF 9.-OBNFTQBDF Q BSFTQFDJИFEPOUIFTBNFFMFNFOU UIFZNVTUIBWFFYBDUMZUIFTBNF
    WBMVFXIFODPNQBSFEJOBO "4$**DBTFJOTFOTJUJWF Q NBOOFS

    "VUIPSTNVTUOPUVTFUIF MBOH BUUSJCVUFJOUIF 9.-OBNFTQBDF Q PO )5.-FMFNFOUT Q JO )5.-EPDVNFOUT Q 5P
    FBTFNJHSBUJPOUPBOEGSPN9)5.- BVUIPSTNBZTQFDJGZBOBUUSJCVUFJOOPOBNFTQBDFXJUIOPQSFИYBOEXJUIUIF
    MJUFSBMMPDBMOBNFYNMMBOHPO )5.-FMFNFOUT Q JO )5.-EPDVNFOUT Q CVUTVDIBUUSJCVUFTNVTUPOMZCFTQFDJИFEJG
    B MBOH Q BUUSJCVUFJOOPOBNFTQBDFJTBMTPTQFDJИFE BOECPUIBUUSJCVUFTNVTUIBWFUIFTBNFWBMVFXIFODPNQBSFE
    JOBO "4$**DBTFJOTFOTJUJWF Q NBOOFS

    *HM> 0A>:MMKB;NM>BGGHG:F>LI:<>PBMAGHIK>[Q:G=PBMAMA>EBM>K:EEH<:EG:F>QFEE:G@A:L
    GH>Z><MHGE:G@N:@>IKH<>LLBG@

    5PEFUFSNJOFUIF F;HAO;A? PGBOPEF VTFSBHFOUTNVTUMPPLBUUIFOFBSFTUBODFTUPSFMFNFOU JODMVEJOHUIFFMFNFOU


    JUTFMGJGUIFOPEFJTBOFMFNFOU
    UIBUIBTB MBOH BUUSJCVUFJOUIF 9.-OBNFTQBDF Q TFUPSJTBO )5.-FMFNFOU Q BOE
    IBTB MBOH Q JOOPOBNFTQBDFBUUSJCVUFTFU5IBUBUUSJCVUFTQFDJИFTUIFMBOHVBHFPGUIFOPEF SFHBSEMFTTPGJUTWBMVF
    

    *GCPUIUIF MBOH Q BUUSJCVUFJOOPOBNFTQBDFBOEUIF MBOH BUUSJCVUFJOUIF 9.-OBNFTQBDF Q BSFTFUPOBOFMFNFOU


    VTFSBHFOUTNVTUVTFUIF MBOH BUUSJCVUFJOUIF 9.-OBNFTQBDF Q BOEUIF MBOH Q BUUSJCVUFJOOPOBNFTQBDFNVTUCF
    JHOPSFE Q GPSUIFQVSQPTFTPGEFUFSNJOJOHUIFFMFNFOUTMBOHVBHF

    *GOPOFPGUIFOPEFTBODFTUPST JODMVEJOHUIF SPPUFMFNFOU Q IBWFFJUIFSBUUSJCVUFTFU CVUUIFSFJTB QSBHNBTFU


    EFGBVMUMBOHVBHF Q TFU UIFOUIBUJTUIFMBOHVBHFPGUIFOPEF*GUIFSFJTOP QSBHNBTFUEFGBVMUMBOHVBHF Q TFU UIFO
    MBOHVBHFJOGPSNBUJPOGSPNBIJHIFSMFWFMQSPUPDPM TVDIBT)551
    JGBOZ NVTUCFVTFEBTUIFИOBMGBMMCBDLMBOHVBHF
    JOTUFBE*OUIFBCTFODFPGBOZTVDIMBOHVBHFJOGPSNBUJPO BOEJODBTFTXIFSFUIFIJHIFSMFWFMQSPUPDPMSFQPSUT
    NVMUJQMFMBOHVBHFT UIFMBOHVBHFPGUIFOPEFJTVOLOPXO BOEUIFDPSSFTQPOEJOHMBOHVBHFDPEFJTUIFFNQUZTUSJOH

    *GUIFSFTVMUJOHWBMVFJTOPUBSFDPHOJ[FEMBOHVBHFDPEF UIFOJUNVTUCFUSFBUFEBTBOVOLOPXOMBOHVBHFIBWJOHUIF
    HJWFOMBOHVBHFDPEF EJTUJODUGSPNBMMPUIFSMBOHVBHFT'PSUIFQVSQPTFTPGSPVOEUSJQQJOHPSDPNNVOJDBUJOHXJUI
    PUIFSTFSWJDFTUIBUFYQFDUMBOHVBHFDPEFT VTFSBHFOUTTIPVMEQBTTVOLOPXOMBOHVBHFDPEFTUISPVHIVONPEJИFE

    5IVT GPSJOTUBODF BOFMFNFOUXJUI MBOHYZ[[Z XPVMECFNBUDIFECZUIFTFMFDUPS MBOH YZ[[Z


    FHJO
    $44
    CVUJUXPVMEOPUCFNBUDIFECZ MBOH BCDEF
    FWFOUIPVHICPUIBSFFRVBMMZJOWBMJE4JNJMBSMZ JGB8FC
    CSPXTFSBOETDSFFOSFBEFSXPSLJOHJOVOJTPODPNNVOJDBUFEBCPVUUIFMBOHVBHFPGUIFFMFNFOU UIFCSPXTFS
    XPVMEUFMMUIFTDSFFOSFBEFSUIBUUIFMBOHVBHFXBTYZ[[Z FWFOJGJULOFXJUXBTJOWBMJE KVTUJODBTFUIFTDSFFO
    SFBEFSBDUVBMMZTVQQPSUFEBMBOHVBHFXJUIUIBUDPEFBGUFSBMM

    *GUIFSFTVMUJOHWBMVFJTUIFFNQUZTUSJOH UIFOJUNVTUCFJOUFSQSFUFEBTNFBOJOHUIBUUIFMBOHVBHFPGUIFOPEFJT
    FYQMJDJUMZVOLOPXO

    6TFSBHFOUTNBZVTFUIFFMFNFOUTMBOHVBHFUPEFUFSNJOFQSPQFSQSPDFTTJOHPSSFOEFSJOH FHJOUIFTFMFDUJPOPG
    BQQSPQSJBUFGPOUTPSQSPOVODJBUJPOT PSGPSEJDUJPOBSZTFMFDUJPO
    

    5IF G<IB *%-BUUSJCVUFNVTU SFЙFDU Q UIF MBOH Q DPOUFOUBUUSJCVUFJOOPOBNFTQBDF

        0B? SHG=<N@ ;NNLC<ON?4)(IHFS

    5IF YNMCBTF Q BUUSJCVUFJTEFИOFEJO9.-#BTF <9.-#"4&> Q

    5IF YNMCBTF Q BUUSJCVUFNBZCFVTFEPOFMFNFOUTPG 9.-EPDVNFOUT Q "VUIPSTNVTUOPUVTFUIF YNMCBTF Q


    BUUSJCVUFJO )5.-EPDVNFOUT Q 

        0B? ?DM ;NNLC<ON?

    5IF EJS Q BUUSJCVUFTQFDJИFTUIFFMFNFOUTUFYUEJSFDUJPOBMJUZ5IFBUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q XJUIUIF


    LFZXPSE MUS NBQQJOHUPUIFTUBUF ;CA BOEUIFLFZXPSE SUM NBQQJOHUPUIFTUBUF AC;5IFBUUSJCVUFIBTOP 8=E0;83E0;D4
    3450D;C BOEOP <8BB8=6E0;D43450D;C

    5IFQSPDFTTJOHPGUIJTBUUSJCVUFJTQSJNBSJMZQFSGPSNFECZUIFQSFTFOUBUJPOMBZFS'PSFYBNQMF UIFSFOEFSJOHTFDUJPOJO
    UIJTTQFDJИDBUJPOEFИOFTBNBQQJOHGSPNUIJTBUUSJCVUFUPUIF$44EJSFDUJPOBOEVOJDPEFCJEJQSPQFSUJFT BOE$44
    EFИOFTSFOEFSJOHJOUFSNTPGUIPTFQSPQFSUJFT

    
    0B?>CL?=NCIH;FCNS PGBOFMFNFOU XIJDIJTVTFEJOQBSUJDVMBSCZUIF DBOWBT Q FMFNFOUTUFYUSFOEFSJOH"1* JTFJUIFS
    MUSPSSUM*GUIFVTFSBHFOUTVQQPSUT$44BOEUIFEJSFDUJPOQSPQFSUZPOUIJTFMFNFOUIBTBDPNQVUFEWBMVFPGFJUIFS
    MUSPSSUM UIFOUIBUJT UIFEJSFDUJPOBMJUZ Q PGUIFFMFNFOU0UIFSXJTF JGUIFFMFNFOUJT CFJOHSFOEFSFE Q UIFO UIF
    EJSFDUJPOBMJUZ Q PGUIFFMFNFOUJTUIFEJSFDUJPOBMJUZVTFECZUIFQSFTFOUBUJPOMBZFS QPUFOUJBMMZEFUFSNJOFEGSPNUIF
    WBMVFPGUIF EJS Q BUUSJCVUFPOUIFFMFNFOU0UIFSXJTF JGUIFFMFNFOUT EJS Q BUUSJCVUFIBTUIFTUBUF ;CA UIF
    FMFNFOUTEJSFDUJPOBMJUZJTMUS MFGUUPSJHIU
    JGUIFBUUSJCVUFIBTUIFTUBUF AC; UIFFMFNFOUTEJSFDUJPOBMJUZJTSUM SJHIU
    UPMFGU
    BOEPUIFSXJTF UIFFMFNFOUTEJSFDUJPOBMJUZJTUIFTBNFBTJUTQBSFOUFMFNFOU PSMUSJGUIFSFJTOPQBSFOU
    FMFNFOU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM ?DM 7 O:EN> 8
    3FUVSOT UIF IUNM FMFNFOU Q T EJS Q BUUSJCVUFTWBMVF JGBOZ
    $BOCFTFU UPFJUIFSMUSPSSUM UPSFQMBDF UIF IUNM FMFNFOU Q T EJS Q BUUSJCVUFTWBMVF
    *GUIFSFJTOP IUNM FMFNFOU Q SFUVSOTUIFFNQUZTUSJOHBOEJHOPSFTOFXWBMVFT

    5IF ?DM *%-BUUSJCVUFPOBOFMFNFOUNVTU SFЙFDU Q UIF EJS Q DPOUFOUBUUSJCVUFPGUIBUFMFNFOU MJNJUFEUPPOMZLOPXO
    WBMVFT Q 

    5IF ?DM *%-BUUSJCVUFPO )5.-%PDVNFOU Q PCKFDUTNVTU SFЙFDU Q UIF EJS Q DPOUFOUBUUSJCVUFPG UIF IUNM FMFNFOU Q JG
    BOZ MJNJUFEUPPOMZLOPXOWBMVFT Q *GUIFSFJTOPTVDIFMFNFOU UIFOUIFBUUSJCVUFNVTUSFUVSOUIFFNQUZTUSJOHBOE
    EPOPUIJOHPOTFUUJOH

    *HM> NMAHKL:K>LMKHG@ER>G<HNK:@>=MHNL>MA> =BK I :MMKB;NM>MHBG=B<:M>M>QM=BK><MBHGK:MA>K


    MA:GNLBG@// LBG<>MA:MP:RMA>BK=H<NF>GMLPBEE<HGMBGN>MHK>G=>K<HKK><MER>O>GBGMA>
    :;L>G<>H?//> @ :LBGM>KIK>M>=;RL>:K<A>G@BG>L

        0B? >G<NN ;NNLC<ON?

    &WFSZ )5.-FMFNFOU Q NBZIBWFB DMBTT Q BUUSJCVUFTQFDJИFE

    5IFBUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB TFUPGTQBDFTFQBSBUFEUPLFOT Q SFQSFTFOUJOHUIFWBSJPVT


    DMBTTFTUIBUUIFFMFNFOUCFMPOHTUP

    5IFDMBTTFTUIBUBO )5.-FMFNFOU Q IBTBTTJHOFEUPJUDPOTJTUTPGBMMUIFDMBTTFTSFUVSOFEXIFOUIFWBMVFPGUIF


    DMBTT Q BUUSJCVUFJT TQMJUPOTQBDFT Q  %VQMJDBUFTBSFJHOPSFE

    *HM> LLB@GBG@<E:LL>LMH:G>E>F>GM:Z><ML<E:LLF:M<ABG@BGL>E><MHKLBG// MA>


    @>M$E>F>GML!R"E:LL,:F> I F>MAH=BGMA> +) :G=HMA>KLN<A?>:MNK>L

    5IFSFBSFOPBEEJUJPOBMSFTUSJDUJPOTPOUIFUPLFOTBVUIPSTDBOVTFJOUIF DMBTT Q BUUSJCVUF CVUBVUIPSTBSF


    FODPVSBHFEUPVTFWBMVFTUIBUEFTDSJCFUIFOBUVSFPGUIFDPOUFOU SBUIFSUIBOWBMVFTUIBUEFTDSJCFUIFEFTJSFE
    QSFTFOUBUJPOPGUIFDPOUFOU

    5IF >G<NN,<H@ BOE >G<NN*DNO *%-BUUSJCVUFTNVTUCPUI SFЙFDU Q UIF DMBTT Q DPOUFOUBUUSJCVUF

        0B? NOTG@ ;NNLC<ON?

    "MM )5.-FMFNFOUT Q NBZIBWFUIF TUZMF Q DPOUFOUBUUSJCVUFTFU5IJTJTB $44TUZMJOHBUUSJCVUF BTEFИOFECZUIF$44


    4UZMJOH"UUSJCVUF4ZOUBYTQFDJИDBUJPO <$44"553> Q

    *OVTFSBHFOUTUIBUTVQQPSU$44 UIFBUUSJCVUFTWBMVFNVTUCFQBSTFEXIFOUIFBUUSJCVUFJTBEEFEPSIBTJUTWBMVF
    DIBOHFE BDDPSEJOHUPUIFSVMFTHJWFOGPS $44TUZMJOHBUUSJCVUFT <$44"553> Q

    %PDVNFOUTUIBUVTF TUZMF Q BUUSJCVUFTPOBOZPGUIFJSFMFNFOUTNVTUTUJMMCFDPNQSFIFOTJCMFBOEVTBCMFJGUIPTF


    BUUSJCVUFTXFSFSFNPWFE

    *HM> %GI:KMB<NE:K NLBG@MA> LMRE> I :MMKB;NM>MHAB=>:G=LAHP<HGM>GM HKMH<HGO>RF>:GBG@


    MA:MBLHMA>KPBL>GHMBG<EN=>=BGMA>=H<NF>GM BLGHG
    <HG?HKFBG@ 0HAB=>:G=LAHP<HGM>GM NL>
    MA> AB==>G I :MMKB;NM> 

    
    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >E>F>GM NOTG@
    3FUVSOTB $444UZMF%FDMBSBUJPO PCKFDUGPSUIFFMFNFOUT TUZMF Q BUUSJCVUF

    5IF NOTG@ *%-BUUSJCVUFNVTUSFUVSOB $444UZMF%FDMBSBUJPO XIPTFWBMVFSFQSFTFOUTUIFEFDMBSBUJPOTTQFDJИFEJOUIF


    BUUSJCVUF JGQSFTFOU.VUBUJOHUIF $444UZMF%FDMBSBUJPO PCKFDUNVTUDSFBUFB TUZMF Q BUUSJCVUFPOUIFFMFNFOU JG
    UIFSFJTOUPOFBMSFBEZ
    BOEUIFODIBOHFJUTWBMVFUPCFBWBMVFSFQSFTFOUJOHUIFTFSJBMJ[FEGPSNPGUIF
    $444UZMF%FDMBSBUJPO PCKFDU5IFTBNFPCKFDUNVTUCFSFUVSOFEFBDIUJNF <$440.> Q

    *OUIFGPMMPXJOHFYBNQMF UIFXPSETUIBUSFGFSUPDPMPSTBSFNBSLFEVQVTJOHUIF TQBO Q FMFNFOUBOEUIF


    TUZMF Q BUUSJCVUFUPNBLFUIPTFXPSETTIPXVQJOUIFSFMFWBOUDPMPSTJOWJTVBMNFEJB

    Q.ZTXFBUTVJUJTTQBOTUZMFDPMPSHSFFOCBDLHSPVOE
    USBOTQBSFOUHSFFOTQBOBOENZFZFTBSFTQBOTUZMFDPMPSCMVF
    CBDLHSPVOEUSBOTQBSFOUCMVFTQBOQ

        !G<?>>CHA=OMNIGHIH PCMC<F?>;N;

    " =OMNIG>;N;;NNLC<ON? JTBOBUUSJCVUFJOOPOBNFTQBDFXIPTFOBNFTUBSUTXJUIUIFTUSJOH?<O<  IBTBUMFBTU


    POFDIBSBDUFSBGUFSUIFIZQIFO JT 9.-DPNQBUJCMF Q BOEDPOUBJOTOPDIBSBDUFSTJOUIFSBOHF6 UP6 "
    -"5*/$"1*5"--&55&3"UP-"5*/$"1*5"--&55&3;
    

    *HM> EE:MMKB;NM>LHG $0)(>E>F>GML I BG $0)(=H<NF>GML I @>M/%%


    EHP>K<:L>=
    :NMHF:MB<:EER LHMA>K>LMKB<MBHGHG/%%NII>K<:L>E>MM>KL=H>LGM:Z><MLN<A=H<NF>GML

    $VTUPNEBUBBUUSJCVUFT Q BSFJOUFOEFEUPTUPSFDVTUPNEBUBQSJWBUFUPUIFQBHFPSBQQMJDBUJPO GPSXIJDIUIFSFBSFOP


    NPSFBQQSPQSJBUFBUUSJCVUFTPSFMFNFOUT

    5IFTFBUUSJCVUFTBSFOPUJOUFOEFEGPSVTFCZTPGUXBSFUIBUJTJOEFQFOEFOUPGUIFTJUFUIBUVTFTUIFBUUSJCVUFT

    'PSJOTUBODF BTJUFBCPVUNVTJDDPVMEBOOPUBUFMJTUJUFNTSFQSFTFOUJOHUSBDLTJOBOBMCVNXJUIDVTUPNEBUB
    BUUSJCVUFTDPOUBJOJOHUIFMFOHUIPGFBDIUSBDL5IJTJOGPSNBUJPODPVMEUIFOCFVTFECZUIFTJUFJUTFMGUPBMMPXUIF
    VTFSUPTPSUUIFMJTUCZUSBDLMFOHUI PSUPИMUFSUIFMJTUGPSUSBDLTPGDFSUBJOMFOHUIT

    PM
    MJEBUBMFOHUINT#FZPOE5IF4FBMJ
    
    PM

    *UXPVMECFJOBQQSPQSJBUF IPXFWFS GPSUIFVTFSUPVTFHFOFSJDTPGUXBSFOPUBTTPDJBUFEXJUIUIBUNVTJDTJUFUP


    TFBSDIGPSUSBDLTPGBDFSUBJOMFOHUICZMPPLJOHBUUIJTEBUB

    5IJTJTCFDBVTFUIFTFBUUSJCVUFTBSFJOUFOEFEGPSVTFCZUIFTJUFTPXOTDSJQUT BOEBSFOPUBHFOFSJDFYUFOTJPO
    NFDIBOJTNGPSQVCMJDMZVTBCMFNFUBEBUB

    &WFSZ )5.-FMFNFOU Q NBZIBWFBOZOVNCFSPG DVTUPNEBUBBUUSJCVUFT Q TQFDJИFE XJUIBOZWBMVF

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >E>F>GM ?<O<N@O
    3FUVSOTB %0.4USJOH.BQ Q PCKFDUGPSUIFFMFNFOUT EBUB Q BUUSJCVUFT
    )ZQIFOBUFEOBNFTCFDPNFDBNFMDBTFE'PSFYBNQMF EBUBGPPCBS CFDPNFT
    FMFNFOUEBUBTFUGPP#BS

    5IF ?<O<N@O *%-BUUSJCVUFQSPWJEFTDPOWFOJFOUBDDFTTPSTGPSBMMUIF EBUB Q BUUSJCVUFTPOBOFMFNFOU0OHFUUJOH


    UIF EBUBTFU Q *%-BUUSJCVUFNVTUSFUVSOB %0.4USJOH.BQ Q PCKFDU BTTPDJBUFEXJUIUIFGPMMPXJOHBMHPSJUINT XIJDI
    FYQPTFUIFTFBUUSJCVUFTPOUIFJSFMFNFOU

    0B?;FAILCNBG@ILA?NNCHANB?FCMNI@H;G? P;FO?J;CLM

     -FU ;8BC CFBOFNQUZMJTUPGOBNFWBMVFQBJST

    
     'PSFBDIDPOUFOUBUUSJCVUFPOUIFFMFNFOUXIPTFИSTUИWFDIBSBDUFSTBSFUIFTUSJOHEBUBBOEXIPTF
    SFNBJOJOHDIBSBDUFST JGBOZ
    EPOPUJODMVEFBOZDIBSBDUFSTJOUIFSBOHF6 UP6 " -"5*/
    $"1*5"--&55&3"UP-"5*/$"1*5"--&55&3;
    BEEBOBNFWBMVFQBJSUP ;8BC XIPTFOBNFJTUIF
    BUUSJCVUFTOBNFXJUIUIFИSTUИWFDIBSBDUFSTSFNPWFEBOEXIPTFWBMVFJTUIFBUUSJCVUFTWBMVF

     'PSFBDIOBNFPOUIFMJTU GPSFBDI6 %):1)&/.*/64DIBSBDUFS 


    JOUIFOBNFUIBUJTGPMMPXFE
    CZBDIBSBDUFSJOUIFSBOHF6 UP6 " 6 -"5*/4."---&55&3"UP6 "-"5*/
    4."---&55&3;
    SFNPWFUIF6 %):1)&/.*/64DIBSBDUFS 
    BOESFQMBDFUIFDIBSBDUFSUIBU
    GPMMPXFEJUCZUIFTBNFDIBSBDUFS DPOWFSUFEUP"4$**VQQFSDBTF Q 

     3FUVSO ;8BC

    0B?;FAILCNBG@ILM?NNCHAH;G?MNI=?LN;CHP;FO?M

     -FU =0<4 CFUIFOBNFQBTTFEUPUIFBMHPSJUIN

     -FU E0;D4 CFUIFWBMVFQBTTFEUPUIFBMHPSJUIN

     *G =0<4 DPOUBJOTB6 %):1)&/.*/64DIBSBDUFS 


    GPMMPXFECZBDIBSBDUFSJOUIFSBOHF6 
    UP6 " 6 -"5*/4."---&55&3"UP6 "-"5*/4."---&55&3;
    UISPXB
    4:/5"9@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

     'PSFBDIDIBSBDUFSJOUIFSBOHF6 UP6 " 6 -"5*/$"1*5"--&55&3"UP6 "


    -"5*/$"1*5"--&55&3;
    JO =0<4 JOTFSUB6 %):1)&/.*/64DIBSBDUFS 
    CFGPSFUIFDIBSBDUFS
    BOESFQMBDFUIFDIBSBDUFSXJUIUIFTBNFDIBSBDUFS DPOWFSUFEUP"4$**MPXFSDBTF Q 

     *OTFSUUIFTUSJOH EBUB BUUIFGSPOUPG =0<4

     4FUUIFWBMVFPGUIFBUUSJCVUFXJUIUIFOBNF =0<4 UPUIFWBMVF E0;D4 SFQMBDJOHBOZQSFWJPVTWBMVFJG


    UIFBUUSJCVUFBMSFBEZFYJTUFE*G TFU"UUSJCVUF
    XPVMEIBWFSBJTFEBOFYDFQUJPOXIFOTFUUJOHBO
    BUUSJCVUFXJUIUIFOBNF =0<4 UIFOUIJTNVTUSBJTFUIFTBNFFYDFQUJPO

    0B?;FAILCNBG@IL>?F?NCHAH;G?M

     -FU =0<4 CFUIFOBNFQBTTFEUPUIFBMHPSJUIN

     *G =0<4 DPOUBJOTB6 %):1)&/.*/64DIBSBDUFS 


    GPMMPXFECZBDIBSBDUFSJOUIFSBOHF6 
    UP6 " 6 -"5*/4."---&55&3"UP6 "-"5*/4."---&55&3;
    UISPXB
    4:/5"9@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

     'PSFBDIDIBSBDUFSJOUIFSBOHF6 UP6 " 6 -"5*/$"1*5"--&55&3"UP6 "


    -"5*/$"1*5"--&55&3;
    JO =0<4 JOTFSUB6 %):1)&/.*/64DIBSBDUFS 
    CFGPSFUIFDIBSBDUFS
    BOESFQMBDFUIFDIBSBDUFSXJUIUIFTBNFDIBSBDUFS DPOWFSUFEUP"4$**MPXFSDBTF Q 

     *OTFSUUIFTUSJOH EBUB BUUIFGSPOUPG =0<4

     3FNPWFUIFBUUSJCVUFXJUIUIFOBNF =0<4 JGTVDIBOBUUSJCVUFFYJTUT%POPUIJOHPUIFSXJTF

    5IFTBNFPCKFDUNVTUCFSFUVSOFEFBDIUJNF

    *GB8FCQBHFXBOUFEBOFMFNFOUUPSFQSFTFOUBTQBDFTIJQ FHBTQBSUPGBHBNF JUXPVMEIBWFUPVTFUIF


    DMBTT Q BUUSJCVUFBMPOHXJUI EBUB Q BUUSJCVUFT

    EJWDMBTTTQBDFTIJQEBUBTIJQJE
    EBUBXFBQPOTMBTFSEBUBTIJFMET
    EBUBYEBUBZEBUB[
    CVUUPODMBTTGJSF
    PODMJDLTQBDFTIJQT<UIJTQBSFOU/PEFEBUBTFUTIJQ*E>GJSF
    
    'JSF
    CVUUPO
    EJW

    /PUJDFIPXUIFIZQIFOBUFEBUUSJCVUFOBNFCFDPNFTDBQJUBMJ[FEJOUIF"1*

    "VUIPSTTIPVMEDBSFGVMMZEFTJHOTVDIFYUFOTJPOTTPUIBUXIFOUIFBUUSJCVUFTBSFJHOPSFEBOEBOZBTTPDJBUFE$44
    ESPQQFE UIFQBHFJTTUJMMVTBCMF

    6TFSBHFOUTNVTUOPUEFSJWFBOZJNQMFNFOUBUJPOCFIBWJPSGSPNUIFTFBUUSJCVUFTPSWBMVFT4QFDJИDBUJPOTJOUFOEFEGPS
    VTFSBHFOUTNVTUOPUEFИOFUIFTFBUUSJCVUFTUPIBWFBOZNFBOJOHGVMWBMVFT

    
    +BWB4DSJQUMJCSBSJFTNBZVTFUIF DVTUPNEBUBBUUSJCVUFT Q BTUIFZBSFDPOTJEFSFEUPCFQBSUPGUIFQBHFPOXIJDIUIFZ
    BSFVTFE"VUIPSTPGMJCSBSJFTUIBUBSFSFVTFECZNBOZBVUIPSTBSFFODPVSBHFEUPJODMVEFUIFJSOBNFJOUIFBUUSJCVUF
    OBNFT UPSFEVDFUIFSJTLPGDMBTIFT

    'PSFYBNQMF BMJCSBSZDBMMFE%P2VFSZDPVMEVTFBUUSJCVUFOBNFTMJLF EBUBEPRVFSZSBOHF BOEBMJCSBSZ


    DBMMFEK+PDPVMEVTFBUUSJCVUFTOBNFTMJLF EBUBKKPSBOHF

       !F?G?HN>?]HCNCIHM

    &BDIFMFNFOUJOUIJTTQFDJИDBUJPOIBTBEFИOJUJPOUIBUJODMVEFTUIFGPMMPXJOHJOGPSNBUJPO

    ;N?AILC?M
    "MJTUPG DBUFHPSJFT Q UPXIJDIUIFFMFNFOUCFMPOHT5IFTFBSFVTFEXIFOEFИOJOHUIF DPOUFOUNPEFMT Q GPS
    FBDIFMFNFOU

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    " =>==>A<0C8E4 EFTDSJQUJPOPGXIFSFUIFFMFNFOUDBOCFVTFE5IJTJOGPSNBUJPOJTSFEVOEBOUXJUIUIFDPOUFOU
    NPEFMTPGFMFNFOUTUIBUBMMPXUIJTPOFBTBDIJME BOEJTQSPWJEFEPOMZBTBDPOWFOJFODF

    IHN?HNGI>?F
    "OPSNBUJWFEFTDSJQUJPOPGXIBUDPOUFOUNVTUCFJODMVEFEBTDIJMESFOBOEEFTDFOEBOUTPGUIFFMFNFOU

    IHN?HN;NNLC<ON?M
    "OPSNBUJWFMJTUPGBUUSJCVUFTUIBUNBZCFTQFDJИFEPOUIFFMFNFOU FYDFQUXIFSFPUIFSXJTFEJTBMMPXFE
    

    +)CHN?L@;=?
    "OPSNBUJWFEFИOJUJPOPGB%0.JOUFSGBDFUIBUTVDIFMFNFOUTNVTUJNQMFNFOU

    5IJTJTUIFOGPMMPXFECZBEFTDSJQUJPOPGXIBUUIFFMFNFOU SFQSFTFOUT Q BMPOHXJUIBOZBEEJUJPOBMOPSNBUJWF


    DPOGPSNBODFDSJUFSJBUIBUNBZBQQMZUPBVUIPST BOEJNQMFNFOUBUJPOT&YBNQMFTBSFTPNFUJNFTBMTPJODMVEFE

       IHN?HNGI>?FM

    &BDIFMFNFOUEFИOFEJOUIJTTQFDJИDBUJPOIBTBDPOUFOUNPEFMBEFTDSJQUJPOPGUIFFMFNFOUTFYQFDUFEDPOUFOUT"O
    )5.-FMFNFOU Q NVTUIBWFDPOUFOUTUIBUNBUDIUIFSFRVJSFNFOUTEFTDSJCFEJOUIFFMFNFOUTDPOUFOUNPEFM

    *HM> LGHM>=BGMA><HG?HKF:G<>:G=M>KFBGHEH@RL><MBHGL ?HKMA>INKIHL>LH?=>M>KFBGBG@B?


    :G>E>F>GMF:M<A>LBML<HGM>GMFH=>EHKGHM "# 2 1><MBHG GH=>LBGMA> +):K>MK>:M>=:L
    >JNBO:E>GMMH 2>QM GH=>L I :G= >GMBMRK>?>K>G<>GH=>L:K>MK>:M>=:LB?MA>RP>K>>QI:G=>=BG
    IE:<> I

    5IF TQBDFDIBSBDUFST Q BSFBMXBZTBMMPXFECFUXFFOFMFNFOUT6TFSBHFOUTSFQSFTFOUUIFTFDIBSBDUFSTCFUXFFO


    FMFNFOUTJOUIFTPVSDFNBSLVQBTUFYUOPEFTJOUIF%0.&NQUZ UFYUOPEFT Q BOE UFYUOPEFT Q DPOTJTUJOHPGKVTU
    TFRVFODFTPGUIPTFDIBSBDUFSTBSFDPOTJEFSFE CHN?L ?F?G?HNQBCN?MJ;=?

    *OUFSFMFNFOUXIJUFTQBDF Q DPNNFOUOPEFT BOEQSPDFTTJOHJOTUSVDUJPOOPEFTNVTUCFJHOPSFEXIFOFTUBCMJTIJOH


    XIFUIFSBOFMFNFOUTDPOUFOUTNBUDIUIFFMFNFOUTDPOUFOUNPEFMPSOPU BOENVTUCFJHOPSFEXIFOGPMMPXJOH
    BMHPSJUINTUIBUEFИOFEPDVNFOUBOEFMFNFOUTFNBOUJDT

    "OFMFNFOU  JTTBJEUPCF JL?=?>?>IL@IFFIQ?> CZBTFDPOEFMFNFOU  JG  BOE  IBWFUIFTBNFQBSFOUOPEFBOE


    UIFSFBSFOPPUIFSFMFNFOUOPEFTPSUFYUOPEFT PUIFSUIBO JOUFSFMFNFOUXIJUFTQBDF Q
    CFUXFFOUIFN

    "VUIPSTNVTUOPUVTF )5.-FMFNFOUT Q BOZXIFSFFYDFQUXIFSFUIFZBSFFYQMJDJUMZBMMPXFE BTEFИOFEGPSFBDI


    FMFNFOU PSBTFYQMJDJUMZSFRVJSFECZPUIFSTQFDJИDBUJPOT'PS9.-DPNQPVOEEPDVNFOUT UIFTFDPOUFYUTDPVMECF
    JOTJEFFMFNFOUTGSPNPUIFSOBNFTQBDFT JGUIPTFFMFNFOUTBSFEFИOFEBTQSPWJEJOHUIFSFMFWBOUDPOUFYUT

    'PSFYBNQMF UIF"UPNTQFDJИDBUJPOEFИOFTB DPOUFOU FMFNFOU8IFOJUT UZQF BUUSJCVUFIBTUIFWBMVF YIUNM


    UIF"UPNTQFDJИDBUJPOSFRVJSFTUIBUJUDPOUBJOBTJOHMF)5.- EJW Q FMFNFOU5IVT B EJW Q FMFNFOUJTBMMPXFE
    JOUIBUDPOUFYU FWFOUIPVHIUIJTJTOPUFYQMJDJUMZOPSNBUJWFMZTUBUFECZUIJTTQFDJИDBUJPO <"50.> Q

    *OBEEJUJPO )5.-FMFNFOUT Q NBZCFPSQIBOOPEFT JFXJUIPVUBQBSFOUOPEF


    

    'PSFYBNQMF DSFBUJOHB UE Q FMFNFOUBOETUPSJOHJUJOBHMPCBMWBSJBCMFJOBTDSJQUJTDPOGPSNJOH FWFOUIPVHI


    UE Q FMFNFOUTBSFPUIFSXJTFPOMZTVQQPTFEUPCFVTFEJOTJEF US Q FMFNFOUT

    WBSEBUB\
    OBNF#BOBOB

    
    DFMMEPDVNFOUDSFBUF&MFNFOU UE

    ^

        'CH>MI@=IHN?HN

    &BDIFMFNFOUJO)5.-GBMMTJOUP[FSPPSNPSF =;N?AILC?M UIBUHSPVQFMFNFOUTXJUITJNJMBSDIBSBDUFSJTUJDTUPHFUIFS


    5IFGPMMPXJOHCSPBEDBUFHPSJFTBSFVTFEJOUIJTTQFDJИDBUJPO

    Ǭ .FUBEBUBDPOUFOU Q
    Ǭ 'MPXDPOUFOU Q
    Ǭ 4FDUJPOJOHDPOUFOU Q
    Ǭ )FBEJOHDPOUFOU Q
    Ǭ 1ISBTJOHDPOUFOU Q
    Ǭ &NCFEEFEDPOUFOU Q
    Ǭ *OUFSBDUJWFDPOUFOU Q

    *HM> /HF>>E>F>GML:ELH?:EEBGMHHMA>K<:M>@HKB>L PAB<A:K>=>[G>=BGHMA>KI:KMLH?MABL


    LI><B[<:MBHG

    5IFTFDBUFHPSJFTBSFSFMBUFEBTGPMMPXT

    $'-

    ")*#&! #&!
    &+)+#,

    %

    +#'&#&!

    ++

    *OBEEJUJPO DFSUBJOFMFNFOUTBSFDBUFHPSJ[FEBT GPSNBTTPDJBUFEFMFNFOUT Q BOEGVSUIFSTVCDBUFHPSJ[FEUPEFИOF


    UIFJSSPMFJOWBSJPVTGPSNSFMBUFEQSPDFTTJOHNPEFMT

    4PNFFMFNFOUTIBWFVOJRVFSFRVJSFNFOUTBOEEPOPUИUJOUPBOZQBSUJDVMBSDBUFHPSZ

         )>M:=:M:<HGM>GM

    )?N;>;N;=IHN?HN JTDPOUFOUUIBUTFUTVQUIFQSFTFOUBUJPOPSCFIBWJPSPGUIFSFTUPGUIFDPOUFOU PSUIBUTFUTVQUIF


    SFMBUJPOTIJQPGUIFEPDVNFOUXJUIPUIFSEPDVNFOUT PSUIBUDPOWFZTPUIFSPVUPGCBOEJOGPSNBUJPO
    Y CBTF Q DPNNBOE Q MJOL Q NFUB Q OPTDSJQU Q TDSJQU Q TUZMF Q UJUMF Q

    &MFNFOUTGSPNPUIFSOBNFTQBDFTXIPTFTFNBOUJDTBSFQSJNBSJMZNFUBEBUBSFMBUFE FH3%'
    BSFBMTP NFUBEBUB
    DPOUFOU Q 

    5IVT JOUIF9.-TFSJBMJ[BUJPO POFDBOVTF3%' MJLFUIJT

    IUNMYNMOTIUUQXXXXPSHYIUNM
    YNMOTSIUUQXXXXPSHSEGTZOUBYOT
    IFBE
    UJUMF)FESBMT)PNF1BHFUJUMF
    S3%'
    1FSTPOYNMOTIUUQXXXXPSHTXBQQJNDPOUBDU
    SBCPVUIUUQIFESBMFYBNQMFDPN
    GVMM/BNF$BU)FESBMGVMM/BNF
    NBJMCPYSSFTPVSDFNBJMUPIFESBM!EBNPXNPXDPN
    QFSTPOBM5JUMF4JSQFSTPOBM5JUMF
    1FSTPO
    S3%'
    IFBE
    CPEZ
    I.ZIPNFQBHFI
    Q*MJLFQMBZJOHXJUITUSJOH *HVFTT4JTUFSTBZTTRVJSSFMTBSFGVO

    
    UPPTPTPNFUJNFT*GPMMPXIFSUPQMBZXJUIUIFNQ
    CPEZ
    IUNM

    5IJTJTOUQPTTJCMFJOUIF)5.-TFSJBMJ[BUJPO IPXFWFS

         "EHP<HGM>GM

    .PTUFMFNFOUTUIBUBSFVTFEJOUIFCPEZPGEPDVNFOUTBOEBQQMJDBUJPOTBSFDBUFHPSJ[FEBT ^IQ=IHN?HN
    Y B Q BCCS Q BEESFTT Q BSFB Q JGJUJTBEFTDFOEBOUPGB NBQ Q FMFNFOU
    BSUJDMF Q BTJEF Q
    BVEJP Q C Q CEP Q CMPDLRVPUF Q CS Q CVUUPO Q DBOWBT Q DJUF Q DPEF Q DPNNBOE Q
    EBUBMJTU Q EFM Q EFUBJMT Q EGO Q EJW Q EM Q FN Q FNCFE Q GJFMETFU Q GJHVSF Q
    GPPUFS Q GPSN Q I Q I Q I Q I Q I Q I Q IFBEFS Q IHSPVQ Q IS Q J Q
    JGSBNF Q JNH Q JOQVU Q JOT Q LCE Q LFZHFO Q MBCFM Q MJOL Q JGUIF JUFNQSPQ Q BUUSJCVUFJT
    QSFTFOU
    NBQ Q NBSL Q NBUI Q NFOV Q NFUB Q JGUIF JUFNQSPQ Q BUUSJCVUFJTQSFTFOU
    NFUFS Q
    OBW Q OPTDSJQU Q PCKFDU Q PM Q PVUQVU Q Q Q QSF Q QSPHSFTT Q R Q SVCZ Q TBNQ Q
    TDSJQU Q TFDUJPO Q TFMFDU Q TNBMM Q TQBO Q TUSPOH Q TUZMF Q JGUIF TDPQFE Q BUUSJCVUFJT
    QSFTFOU
    TVC Q TVQ Q TWH Q UBCMF Q UFYUBSFB Q UJNF Q VM Q WBS Q WJEFP Q XCS Q UFYU Q

    "TBHFOFSBMSVMF FMFNFOUTXIPTFDPOUFOUNPEFMBMMPXTBOZ ЙPXDPOUFOU Q TIPVMEIBWFFJUIFSBUMFBTUPOF


    EFTDFOEBOU UFYUOPEF Q UIBUJTOPU JOUFSFMFNFOUXIJUFTQBDF Q PSBUMFBTUPOFEFTDFOEBOUFMFNFOUOPEFUIBUJT
    FNCFEEFEDPOUFOU Q 'PSUIFQVSQPTFTPGUIJTSFRVJSFNFOU EFM Q FMFNFOUTBOEUIFJSEFTDFOEBOUTNVTUOPUCF
    DPVOUFEBTDPOUSJCVUJOHUPUIFBODFTUPSTPGUIF EFM Q FMFNFOU

    5IJTSFRVJSFNFOUJTOPUBIBSESFRVJSFNFOU IPXFWFS BTUIFSFBSFNBOZDBTFTXIFSFBOFMFNFOUDBOCFFNQUZ


    MFHJUJNBUFMZ GPSFYBNQMFXIFOJUJTVTFEBTBQMBDFIPMEFSXIJDIXJMMMBUFSCFИMMFEJOCZBTDSJQU PSXIFOUIFFMFNFOU
    JTQBSUPGBUFNQMBUFBOEXPVMEPONPTUQBHFTCFИMMFEJOCVUPOTPNFQBHFTJTOPUSFMFWBOU

         /><MBHGBG@<HGM>GM

    /?=NCIHCHA=IHN?HN JTDPOUFOUUIBUEFИOFTUIFTDPQFPG IFBEJOHT Q BOE GPPUFST Q 


    Y BSUJDMF Q BTJEF Q OBW Q TFDUJPO Q

    &BDI TFDUJPOJOHDPOUFOU Q FMFNFOUQPUFOUJBMMZIBTBIFBEJOHBOEBO PVUMJOF Q 4FFUIFTFDUJPOPO IFBEJOHTBOE


    TFDUJPOT Q GPSGVSUIFSEFUBJMT

    *HM> 0A>K>:K>:ELH<>KM:BG>E>F>GMLMA:M:K> L><MBHGBG@KHHML I 0A>L>:K>=BLMBG<M?KHF


    L><MBHGBG@<HGM>GM I ;NMMA>R<:G:ELHA:O>:G HNMEBG> I

         $>:=BG@<HGM>GM

    $?;>CHA=IHN?HN EFИOFTUIFIFBEFSPGBTFDUJPO XIFUIFSFYQMJDJUMZNBSLFEVQVTJOH TFDUJPOJOHDPOUFOU Q FMFNFOUT


    PSJNQMJFECZUIFIFBEJOHDPOUFOUJUTFMG
    
    Y I Q I Q I Q I Q I Q I Q IHSPVQ Q

         ,AK:LBG@<HGM>GM

    ,BL;MCHA=IHN?HN JTUIFUFYUPGUIFEPDVNFOU BTXFMMBTFMFNFOUTUIBUNBSLVQUIBUUFYUBUUIFJOUSBQBSBHSBQI


    MFWFM3VOTPG QISBTJOHDPOUFOU Q GPSN QBSBHSBQIT Q 
    Y B Q JGJUDPOUBJOTPOMZ QISBTJOHDPOUFOU Q
    BCCS Q BSFB Q JGJUJTBEFTDFOEBOUPGB NBQ Q FMFNFOU

    BVEJP Q C Q CEP Q CS Q CVUUPO Q DBOWBT Q DJUF Q DPEF Q DPNNBOE Q EBUBMJTU Q EFM Q
    JGJUDPOUBJOTPOMZ QISBTJOHDPOUFOU Q
    EGO Q FN Q FNCFE Q J Q JGSBNF Q JNH Q JOQVU Q JOT Q
    JGJUDPOUBJOTPOMZ QISBTJOHDPOUFOU Q
    LCE Q LFZHFO Q MBCFM Q MJOL Q JGUIF JUFNQSPQ Q BUUSJCVUF
    JTQSFTFOU
    NBQ Q JGJUDPOUBJOTPOMZ QISBTJOHDPOUFOU Q
    NBSL Q NBUI Q NFUB Q JGUIF JUFNQSPQ Q
    BUUSJCVUFJTQSFTFOU
    NFUFS Q OPTDSJQU Q PCKFDU Q PVUQVU Q QSPHSFTT Q R Q SVCZ Q TBNQ Q
    TDSJQU Q TFMFDU Q TNBMM Q TQBO Q TUSPOH Q TVC Q TVQ Q TWH Q UFYUBSFB Q UJNF Q
    WBS Q WJEFP Q XCS Q UFYU Q

    "TBHFOFSBMSVMF FMFNFOUTXIPTFDPOUFOUNPEFMBMMPXTBOZ QISBTJOHDPOUFOU Q TIPVMEIBWFFJUIFSBUMFBTUPOF


    EFTDFOEBOU UFYUOPEF Q UIBUJTOPU JOUFSFMFNFOUXIJUFTQBDF Q PSBUMFBTUPOFEFTDFOEBOUFMFNFOUOPEFUIBUJT

    
    FNCFEEFEDPOUFOU Q 'PSUIFQVSQPTFTPGUIJTSFRVJSFNFOU OPEFTUIBUBSFEFTDFOEBOUTPG EFM Q FMFNFOUTNVTUOPU
    CFDPVOUFEBTDPOUSJCVUJOHUPUIFBODFTUPSTPGUIF EFM Q FMFNFOU

    *HM> )HLM>E>F>GMLMA:M:K><:M>@HKBS>=:LIAK:LBG@<HGM>GM<:GHGER<HGM:BG>E>F>GMLMA:M:K>
    MA>FL>EO>L<:M>@HKBS>=:LIAK:LBG@<HGM>GM GHM:GR\HP<HGM>GM

    0?RN JOUIFDPOUFYUPGDPOUFOUNPEFMT NFBOT UFYUOPEFT Q  5FYU Q JTTPNFUJNFTVTFEBTBDPOUFOUNPEFMPOJUTPXO


    CVUJTBMTP QISBTJOHDPOUFOU Q BOEDBOCF JOUFSFMFNFOUXIJUFTQBDF Q JGUIF UFYUOPEFT Q BSFFNQUZPSDPOUBJOKVTU
    TQBDFDIBSBDUFST Q
    

         !F;>==>=<HGM>GM

    !G<?>>?>=IHN?HN JTDPOUFOUUIBUJNQPSUTBOPUIFSSFTPVSDFJOUPUIFEPDVNFOU PSDPOUFOUGSPNBOPUIFSWPDBCVMBSZ


    UIBUJTJOTFSUFEJOUPUIFEPDVNFOU
    Y BVEJP Q DBOWBT Q FNCFE Q JGSBNF Q JNH Q NBUI Q PCKFDU Q TWH Q WJEFP Q

    &MFNFOUTUIBUBSFGSPNOBNFTQBDFTPUIFSUIBOUIF )5.-OBNFTQBDF Q BOEUIBUDPOWFZDPOUFOUCVUOPUNFUBEBUB


    BSF FNCFEEFEDPOUFOU Q GPSUIFQVSQPTFTPGUIFDPOUFOUNPEFMTEFИOFEJOUIJTTQFDJИDBUJPO 'PSFYBNQMF .BUI.-
    PS47(

    4PNFFNCFEEFEDPOUFOUFMFNFOUTDBOIBWF @;FF<;=E=IHN?HNDPOUFOUUIBUJTUPCFVTFEXIFOUIFFYUFSOBMSFTPVSDF
    DBOOPUCFVTFE FHCFDBVTFJUJTPGBOVOTVQQPSUFEGPSNBU
    5IFFMFNFOUEFИOJUJPOTTUBUFXIBUUIFGBMMCBDLJT JGBOZ

         %GM>K:<MBO><HGM>GM

    %HN?L;=NCP?=IHN?HN JTDPOUFOUUIBUJTTQFDJИDBMMZJOUFOEFEGPSVTFSJOUFSBDUJPO
    Y B Q BVEJP Q JGUIF DPOUSPMT Q BUUSJCVUFJTQSFTFOU
    CVUUPO Q EFUBJMT Q FNCFE Q JGSBNF Q
    JNH Q JGUIF VTFNBQ Q BUUSJCVUFJTQSFTFOU
    JOQVU Q JGUIF UZQF Q BUUSJCVUFJT =>C JOUIF IJEEFO Q
    TUBUF
    LFZHFO Q MBCFM Q NFOV Q JGUIF UZQF Q BUUSJCVUFJTJOUIF UPPMCBS Q TUBUF
    PCKFDU Q JGUIF
    VTFNBQ Q BUUSJCVUFJTQSFTFOU
    TFMFDU Q UFYUBSFB Q WJEFP Q JGUIF DPOUSPMT Q BUUSJCVUFJTQSFTFOU

    $FSUBJOFMFNFOUTJO)5.-IBWFBO BDUJWBUJPOCFIBWJPS Q XIJDINFBOTUIBUUIFVTFSDBOBDUJWBUFUIFN5IJTUSJHHFSTB


    TFRVFODFPGFWFOUTEFQFOEFOUPOUIFBDUJWBUJPONFDIBOJTN BOEOPSNBMMZDVMNJOBUJOHJOB DMJDL Q FWFOUGPMMPXFECZ
    B %0."DUJWBUF Q FWFOU BTEFTDSJCFECFMPX

    5IFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPNBOVBMMZUSJHHFSFMFNFOUTUIBUIBWFBO BDUJWBUJPOCFIBWJPS Q GPSJOTUBODF


    VTJOHLFZCPBSEPSWPJDFJOQVU PSUISPVHINPVTFDMJDLT8IFOUIFVTFSUSJHHFSTBOFMFNFOUXJUIBEFИOFE BDUJWBUJPO
    CFIBWJPS Q JOBNBOOFSPUIFSUIBODMJDLJOHJU UIFEFGBVMUBDUJPOPGUIFJOUFSBDUJPOFWFOUNVTUCFUP SVOTZOUIFUJDDMJDL
    BDUJWBUJPOTUFQT Q POUIFFMFNFOU

    8IFOBVTFSBHFOUJTUP LOHMSHNB?NC==FC=E;=NCP;NCIHMN?JM POBOFMFNFOU UIFVTFSBHFOUNVTU SVOQSFDMJDL


    BDUJWBUJPOTUFQT Q POUIFFMFNFOU UIFO ИSFB DMJDL FWFOU Q BUUIFFMFNFOU5IFEFGBVMUBDUJPOPGUIJT DMJDL Q FWFOU
    NVTUCFUP SVOQPTUDMJDLBDUJWBUJPOTUFQT Q POUIFFMFNFOU*GUIFFWFOUJTDBODFMFE UIFVTFSBHFOUNVTU SVO
    DBODFMFEBDUJWBUJPOTUFQT Q POUIFFMFNFOUJOTUFBE

    (JWFOBOFMFNFOU C0A64C UIF H?;L?MN;=NCP;N;<F??F?G?HN JTUIFFMFNFOUSFUVSOFECZUIFGPMMPXJOHBMHPSJUIN

     *G C0A64C IBTBEFИOFE BDUJWBUJPOCFIBWJPS Q UIFOSFUVSO C0A64C BOEBCPSUUIFTFTUFQT

     *G C0A64C IBTBQBSFOUFMFNFOU UIFOTFU C0A64C UPUIBUQBSFOUFMFNFOUBOESFUVSOUPUIFИSTUTUFQ

     0UIFSXJTF UIFSFJTOP OFBSFTUBDUJWBUBCMFFMFNFOU Q 

    8IFOBQPJOUJOHEFWJDFJTDMJDLFE UIFVTFSBHFOUNVTUSVOUIFTFTUFQT

     -FU 4 CFUIF OFBSFTUBDUJWBUBCMFFMFNFOU PGUIFFMFNFOUEFTJHOBUFECZUIFVTFS JGBOZ

     *GUIFSFJTBOFMFNFOU 4 SVOQSFDMJDLBDUJWBUJPOTUFQT Q POJU

     %JTQBUDIUIFSFRVJSFE DMJDL Q FWFOU

    *GUIFSFJTBOFMFNFOU 4 UIFOUIFEFGBVMUBDUJPOPGUIF DMJDL Q FWFOUNVTUCFUP SVOQPTUDMJDLBDUJWBUJPO


    TUFQT Q POFMFNFOU 4

    *GUIFSFJTBOFMFNFOU 4 CVUUIFFWFOUJTDBODFMFE UIFVTFSBHFOUNVTU SVODBODFMFEBDUJWBUJPOTUFQT Q PO


    FMFNFOU 4

    
    *HM> 0A>:;HO>=H>LGMA:II>G?HK:K;BMK:KRLRGMA>MB<>O>GML=BLI:M<A>=;R:NMAHKL<KBIM
    $HP>O>K MA> <EB<D I F>MAH=<:G;>NL>=MHF:D>BMA:II>GIKH@K:FF:MB<:EER

    8IFOBVTFSBHFOUJTUP LOHJL? =FC=E;=NCP;NCIHMN?JM POBOFMFNFOU JUNVTUSVOUIF JL? =FC=E;=NCP;NCIHMN?JM


    EFИOFEGPSUIBUFMFNFOU JGBOZ

    8IFOBVTFSBHFOUJTUP LOHJIMN =FC=E;=NCP;NCIHMN?JM POBOFMFNFOU UIFVTFSBHFOUNVTU ИSFBTJNQMFFWFOU Q


    OBNFE %0."DUJWBUF Q UIBUJTDBODFMBCMFBUUIBUFMFNFOU5IFEFGBVMUBDUJPOPGUIJTFWFOUNVTUCFUP SVOИOBM
    BDUJWBUJPOTUFQT Q POUIBUFMFNFOU*GUIFFWFOUJTDBODFMFE UIFVTFSBHFOUNVTU SVODBODFMFEBDUJWBUJPOTUFQT Q PO
    UIFFMFNFOUJOTUFBE

    8IFOBVTFSBHFOUJTUP LOH=;H=?F?>;=NCP;NCIHMN?JM POBOFMFNFOU JUNVTUSVOUIF =;H=?F?>;=NCP;NCIHMN?JM


    EFИOFEGPSUIBUFMFNFOU JGBOZ

    8IFOBVTFSBHFOUJTUP LOH]H;F;=NCP;NCIHMN?JM POBOFMFNFOU JUNVTUSVOUIF ;=NCP;NCIH<?B;PCIL EFИOFEGPS


    UIBUFMFNFOU"DUJWBUJPOCFIBWJPSTDBOSFGFSUPUIF DMJDL Q BOE %0."DUJWBUF Q FWFOUTUIBUXFSFИSFECZUIFTUFQT
    BCPWFMFBEJOHVQUPUIJTQPJOU

        0L;HMJ;L?HN=IHN?HNGI>?FM

    4PNFFMFNFOUTBSFEFTDSJCFEBT NL;HMJ;L?HNUIFZIBWFUSBOTQBSFOUJOUIFEFTDSJQUJPOPGUIFJSDPOUFOUNPEFM

    8IFOBDPOUFOUNPEFMJODMVEFTBQBSUUIBUJTUSBOTQBSFOU UIPTFQBSUTNVTUOPUDPOUBJODPOUFOUUIBUXPVMEOPUCF
    DPOGPSNBOUJGBMMUSBOTQBSFOUFMFNFOUTJOUIFUSFFXFSFSFQMBDFE JOUIFJSQBSFOUFMFNFOU CZUIFDIJMESFOJOUIF
    USBOTQBSFOUQBSUPGUIFJSDPOUFOUNPEFM SFUBJOJOHPSEFS

    $POTJEFSUIFGPMMPXJOHNBSLVQGSBHNFOU

    Q)FMMPBISFGXPSMEIUNMFNXPOEFSGVMFNXPSMEBQ

    *UT%0.MPPLTMJLFUIFGPMMPXJOH

    K K
    O@SO ""%
    < K CM@AXPSMEIUNM
    @H K
    O@SO ,%$'*"
    O@SO ,%'"
    O@SO 

    5IFDPOUFOUNPEFMPGUIF B Q FMFNFOUJT USBOTQBSFOU Q 5PTFFJGJUTDPOUFOUTBSFDPOGPSNJOH UIFSFGPSF UIF


    FMFNFOUJTSFQMBDFECZJUTDPOUFOUT

    K K
    O@SO ""%
    @H K
    O@SO ,%$'*"
    O@SO ,%'"
    O@SO 

    4JODFUIBUJTDPOGPSNJOH UIFDPOUFOUTPGUIF B Q BSFDPOGPSNJOHJOUIFPSJHJOBMGSBHNFOU

    8IFOBUSBOTQBSFOUFMFNFOUIBTOPQBSFOU UIFOUIFQBSUPGJUTDPOUFOUNPEFMUIBUJTUSBOTQBSFOUNVTUJOTUFBECF
    USFBUFEBTBDDFQUJOHBOZ ЙPXDPOUFOU Q 

        ,;L;AL;JBM

    *HM> 0A>M>KF I:K:@K:IA I :L=>[G>=BGMABLL><MBHGBL=BLMBG<M?KHFMAHN@AK>E:M>=MHMA> I I


    >E>F>GM=>[G>=E:M>K 0A> I:K:@K:IA I <HG<>IM=>[G>=A>K>BLNL>=MH=>L<KB;>AHPMHBGM>KIK>M
    =H<NF>GML

    " J;L;AL;JB JTUZQJDBMMZBSVOPG QISBTJOHDPOUFOU Q UIBUGPSNTBCMPDLPGUFYUXJUIPOFPSNPSFTFOUFODFTUIBU


    EJTDVTTBQBSUJDVMBSUPQJD BTJOUZQPHSBQIZ CVUDBOBMTPCFVTFEGPSNPSFHFOFSBMUIFNBUJDHSPVQJOH'PSJOTUBODF BO
    BEESFTTJTBMTPBQBSBHSBQI BTJTBQBSUPGBGPSN BCZMJOF PSBTUBO[BJOBQPFN

    
    *OUIFGPMMPXJOHFYBNQMF UIFSFBSFUXPQBSBHSBQITJOBTFDUJPO5IFSFJTBMTPBIFBEJOH XIJDIDPOUBJOT
    QISBTJOHDPOUFOUUIBUJTOPUBQBSBHSBQI/PUFIPXUIFDPNNFOUTBOE JOUFSFMFNFOUXIJUFTQBDF Q EPOPUGPSN
    QBSBHSBQIT

    TFDUJPO
    I&YBNQMFPGQBSBHSBQITI
    5IJTJTUIFFNGJSTUFNQBSBHSBQIJOUIJTFYBNQMF
    Q5IJTJTUIFTFDPOEQ
    5IJTJTOPUBQBSBHSBQI
    TFDUJPO

    1BSBHSBQITJO ЙPXDPOUFOU Q BSFEFИOFESFMBUJWFUPXIBUUIFEPDVNFOUMPPLTMJLFXJUIPVUUIF B Q JOT Q EFM Q


    BOE NBQ Q FMFNFOUTDPNQMJDBUJOHNBUUFST TJODFUIPTFFMFNFOUT XJUIUIFJSIZCSJEDPOUFOUNPEFMT DBOTUSBEEMF
    QBSBHSBQICPVOEBSJFT BTTIPXOJOUIFИSTUUXPFYBNQMFTCFMPX

    *HM> #>G>K:EER A:OBG@>E>F>GMLLMK:==E>I:K:@K:IA;HNG=:KB>LBL;>LM:OHB=>= ):BGM:BGBG@


    LN<AF:KDNI<:G;>=B]<NEM

    5IFGPMMPXJOHFYBNQMFUBLFTUIFNBSLVQGSPNUIFFBSMJFSFYBNQMFBOEQVUT JOT Q BOE EFM Q FMFNFOUTBSPVOE


    TPNFPGUIFNBSLVQUPTIPXUIBUUIFUFYUXBTDIBOHFE UIPVHIJOUIJTDBTF UIFDIBOHFTBENJUUFEMZEPOUNBLF
    NVDITFOTF
    /PUJDFIPXUIJTFYBNQMFIBTFYBDUMZUIFTBNFQBSBHSBQITBTUIFQSFWJPVTPOF EFTQJUFUIF JOT Q
    BOE EFM Q FMFNFOUTǡUIF JOT Q FMFNFOUTUSBEEMFTUIFIFBEJOHBOEUIFИSTUQBSBHSBQI BOEUIF EFM Q
    FMFNFOUTUSBEEMFTUIFCPVOEBSZCFUXFFOUIFUXPQBSBHSBQIT

    TFDUJPO
    JOTI&YBNQMFPGQBSBHSBQITI
    5IJTJTUIFFNGJSTUFNQBSBHSBQIJOJOTUIJTFYBNQMFEFM
    Q5IJTJTUIFTFDPOEQEFM
    5IJTJTOPUBQBSBHSBQI
    TFDUJPO

    -FU E84F CFBWJFXPGUIF%0.UIBUSFQMBDFTBMM B Q JOT Q EFM Q BOE NBQ Q FMFNFOUTJOUIFEPDVNFOUXJUIUIFJS
    DPOUFOUT5IFO JO E84F GPSFBDISVOPGTJCMJOH QISBTJOHDPOUFOU Q OPEFTVOJOUFSSVQUFECZPUIFSUZQFTPGDPOUFOU JO
    BOFMFNFOUUIBUBDDFQUTDPOUFOUPUIFSUIBO QISBTJOHDPOUFOU Q BTXFMMBT QISBTJOHDPOUFOU Q MFU PABC CFUIFИSTU
    OPEFPGUIFSVO BOEMFU ;0BC CFUIFMBTUOPEFPGUIFSVO'PSFBDITVDISVOUIBUDPOTJTUTPGBUMFBTUPOFOPEFUIBUJT
    OFJUIFS FNCFEEFEDPOUFOU Q OPS JOUFSFMFNFOUXIJUFTQBDF Q BQBSBHSBQIFYJTUTJOUIFPSJHJOBM%0.GSPN
    JNNFEJBUFMZCFGPSF PABC UPJNNFEJBUFMZBGUFS ;0BC 1BSBHSBQITDBOUIVTTQBOBDSPTT B Q JOT Q EFM Q BOE NBQ Q
    FMFNFOUT

    $POGPSNBODFDIFDLFSTNBZXBSOBVUIPSTPGDBTFTXIFSFUIFZIBWFQBSBHSBQITUIBUPWFSMBQFBDIPUIFS UIJTDBO
    IBQQFOXJUI PCKFDU Q WJEFP Q BVEJP Q BOE DBOWBT Q FMFNFOUT BOEJOEJSFDUMZUISPVHIFMFNFOUTJOPUIFS
    OBNFTQBDFTUIBUBMMPX)5.-UPCFGVSUIFSFNCFEEFEUIFSFJO MJLF TWH Q PS NBUI Q
    

    " QBSBHSBQI Q JTBMTPGPSNFEFYQMJDJUMZCZ Q Q FMFNFOUT

    *HM> 0A> I I >E>F>GM<:G;>NL>=MHPK:IBG=BOB=N:EI:K:@K:IALPA>GMA>K>PHNE=HMA>KPBL>


    GHM;>:GR<HGM>GMHMA>KMA:GIAK:LBG@<HGM>GMMHL>I:K:M>MA>I:K:@K:IAL?KHF>:<AHMA>K

    *OUIFGPMMPXJOHFYBNQMF UIFMJOLTQBOTIBMGPGUIFИSTUQBSBHSBQI BMMPGUIFIFBEJOHTFQBSBUJOHUIFUXP


    QBSBHSBQIT BOEIBMGPGUIFTFDPOEQBSBHSBQI*UTUSBEEMFTUIFQBSBHSBQITBOEUIFIFBEJOH

    BTJEF
    8FMDPNF
    BISFGBCPVUIUNM
    5IJTJTIPNFPG
    I5IF'BMDPOTI
    5IF-PDLIFFE.BSUJONVMUJSPMFKFUGJHIUFSBJSDSBGU
    B
    5IJTQBHFEJTDVTTFTUIF''JHIUJOH'BMDPOTJOOFSNPTUTFDSFUT
    BTJEF

    )FSFJTBOPUIFSXBZPGNBSLJOHUIJTVQ UIJTUJNFTIPXJOHUIFQBSBHSBQITFYQMJDJUMZ BOETQMJUUJOHUIFPOFMJOL


    FMFNFOUJOUPUISFF

    BTJEF
    Q8FMDPNFBISFGBCPVUIUNM5IJTJTIPNFPGBQ
    IBISFGBCPVUIUNM5IF'BMDPOTBI

    
    QBISFGBCPVUIUNM5IF-PDLIFFE.BSUJONVMUJSPMFKFU
    GJHIUFSBJSDSBGUB5IJTQBHFEJTDVTTFTUIF''JHIUJOH
    'BMDPOTJOOFSNPTUTFDSFUTQ
    BTJEF

    *UJTQPTTJCMFGPSQBSBHSBQITUPPWFSMBQXIFOVTJOHDFSUBJOFMFNFOUTUIBUEFИOFGBMMCBDLDPOUFOU'PSFYBNQMF JO
    UIFGPMMPXJOHTFDUJPO

    TFDUJPO
    I.Z$BUTI
    :PVDBOQMBZXJUINZDBUTJNVMBUPS
    PCKFDUEBUBDBUTTJN
    5PTFFUIFDBUTJNVMBUPS VTFPOFPGUIFGPMMPXJOHMJOLT
    VM
    MJBISFGDBUTTJN%PXOMPBETJNVMBUPSGJMFB
    MJBISFGIUUQTJNTFYBNQMFDPNXBUDI W-:ETY:*/66TFPOMJOFTJNVMBUPSB
    VM
    "MUFSOBUJWFMZ VQHSBEFUPUIF.FMMCMPN#SPXTFS
    PCKFDU
    *NRVJUFQSPVEPGJU
    TFDUJPO

    5IFSFBSFИWFQBSBHSBQIT

     5IFQBSBHSBQIUIBUTBZT:PVDBOQMBZXJUINZDBUTJNVMBUPS >1942C *NRVJUFQSPVEPGJU XIFSF


    >1942C JTUIF PCKFDU Q FMFNFOU
     5IFQBSBHSBQIUIBUTBZT5PTFFUIFDBUTJNVMBUPS VTFPOFPGUIFGPMMPXJOHMJOLT
     5IFQBSBHSBQIUIBUTBZT%PXOMPBETJNVMBUPSИMF
     5IFQBSBHSBQIUIBUTBZT6TFPOMJOFTJNVMBUPS
     5IFQBSBHSBQIUIBUTBZT"MUFSOBUJWFMZ VQHSBEFUPUIF.FMMCMPN#SPXTFS

    5IFИSTUQBSBHSBQIJTPWFSMBQQFECZUIFPUIFSGPVS"VTFSBHFOUUIBUTVQQPSUTUIFDBUTTJNSFTPVSDFXJMMPOMZ
    TIPXUIFИSTUPOF CVUBVTFSBHFOUUIBUTIPXTUIFGBMMCBDLXJMMDPOGVTJOHMZTIPXUIFИSTUTFOUFODFPGUIFИSTU
    QBSBHSBQIBTJGJUXBTJOUIFTBNFQBSBHSBQIBTUIFTFDPOEPOF BOEXJMMTIPXUIFMBTUQBSBHSBQIBTJGJUXBTBU
    UIFTUBSUPGUIFTFDPOETFOUFODFPGUIFИSTUQBSBHSBQI

    5PBWPJEUIJTDPOGVTJPO FYQMJDJU Q Q FMFNFOUTDBOCFVTFE

       HHIN;NCIHM@IL;MMCMNCP?N?=BHIFIASJLI>O=NM .%

    "VUIPSTNBZVTFUIF"3*" SPMF BOE BSJB BUUSJCVUFTPO )5.-FMFNFOUT Q JOBDDPSEBODFXJUIUIFSFRVJSFNFOUT


    EFTDSJCFEJOUIF"3*"TQFDJИDBUJPOT FYDFQUXIFSFUIFTFDPOЙJDUXJUIUIF TUSPOHOBUJWFTFNBOUJDT EFTDSJCFECFMPX
    5IFTFFYDFQUJPOTBSFJOUFOEFEUPQSFWFOUBVUIPSTGSPNNBLJOHBTTJTUJWFUFDIOPMPHZQSPEVDUTSFQPSUOPOTFOTJDBMTUBUFT
    UIBUEPOPUSFQSFTFOUUIFBDUVBMTUBUFPGUIFEPDVNFOU <"3*"> Q

    6TFSBHFOUTBSFSFRVJSFEUPJNQMFNFOU"3*"TFNBOUJDTPOBMM )5.-FMFNFOUT Q BTEFИOFEJOUIF"3*"TQFDJИDBUJPOT


    5IF JNQMJDJU"3*"TFNBOUJDT EFИOFECFMPXNVTUCFSFDPHOJ[FECZJNQMFNFOUBUJPOT <"3*"*.1-> Q

    5IFGPMMPXJOHUBCMFEFИOFTUIF TUSPOHOBUJWFTFNBOUJDT BOEDPSSFTQPOEJOH JNQMJDJU"3*"TFNBOUJDT UIBUBQQMZUP )5.-


    FMFNFOUT Q &BDIMBOHVBHFGFBUVSF FMFNFOUPSBUUSJCVUF
    JOBDFMMJOUIFИSTUDPMVNOJNQMJFTUIF"3*"TFNBOUJDT SPMF
    TUBUFT BOEPSQSPQFSUJFT
    HJWFOJOUIFDFMMJOUIFTFDPOEDPMVNOPGUIFTBNFSPX"VUIPSTNVTUOPUTFUUIF"3*" SPMF
    BOE BSJB BUUSJCVUFTJOBNBOOFSUIBUDPOЙJDUTXJUIUIFTFNBOUJDTEFTDSJCFEJOUIFGPMMPXJOHUBCMF 8IFONVMUJQMF
    SPXTBQQMZUPBOFMFNFOU UIFSPMFGSPNUIFMBTUSPXUPEFИOFBSPMFNVTUCFBQQMJFE BOEUIFTUBUFTBOEQSPQFSUJFT
    GSPNBMMUIFSPXTNVTUCFDPNCJOFE

    (;HAO;A?@?;NOL? /NLIHAH;NCP?M?G;HNC=M ;H>CGJFC?>.%M?G;HNC=M

    B Q FMFNFOUUIBUSFQSFTFOUTB MJOL SPMF


    IZQFSMJOL Q
    BSFB Q FMFNFOUUIBUSFQSFTFOUTB MJOL SPMF
    IZQFSMJOL Q
    CVUUPO Q FMFNFOU CVUUPO SPMF
    EBUBMJTU Q FMFNFOU MJTUCPY SPMF XJUIUIF BSJBNVMUJTFMFDUBCMF QSPQFSUZTFUUPGBMTF
    I Q FMFNFOUUIBUEPFTOPUIBWFBO IFBEJOH SPMF XJUIUIF BSJBMFWFM QSPQFSUZTFUUPUIFFMFNFOUT PVUMJOFEFQUI Q
    IHSPVQ Q BODFTUPS
    I Q FMFNFOUUIBUEPFTOPUIBWFBO IFBEJOH SPMF XJUIUIF BSJBMFWFM QSPQFSUZTFUUPUIFFMFNFOUT PVUMJOFEFQUI Q
    IHSPVQ Q BODFTUPS
    I Q FMFNFOUUIBUEPFTOPUIBWFBO IFBEJOH SPMF XJUIUIF BSJBMFWFM QSPQFSUZTFUUPUIFFMFNFOUT PVUMJOFEFQUI Q
    IHSPVQ Q BODFTUPS

    
    (;HAO;A?@?;NOL? /NLIHAH;NCP?M?G;HNC=M ;H>CGJFC?>.%M?G;HNC=M
    I Q FMFNFOUUIBUEPFTOPUIBWFBO IFBEJOH SPMF XJUIUIF BSJBMFWFM QSPQFSUZTFUUPUIFFMFNFOUT PVUMJOFEFQUI Q
    IHSPVQ Q BODFTUPS
    I Q FMFNFOUUIBUEPFTOPUIBWFBO IFBEJOH SPMF XJUIUIF BSJBMFWFM QSPQFSUZTFUUPUIFFMFNFOUT PVUMJOFEFQUI Q
    IHSPVQ Q BODFTUPS
    I Q FMFNFOUUIBUEPFTOPUIBWFBO IFBEJOH SPMF XJUIUIF BSJBMFWFM QSPQFSUZTFUUPUIFFMFNFOUT PVUMJOFEFQUI Q
    IHSPVQ Q BODFTUPS
    IHSPVQ Q FMFNFOU IFBEJOH SPMF XJUIUIF BSJBMFWFM QSPQFSUZTFUUPUIFFMFNFOUT PVUMJOFEFQUI Q
    Q
    IS FMFNFOU TFQBSBUPS SPMF
    Q Q
    JNH FMFNFOUXIPTF BMU QSFTFOUBUJPO SPMF
    BUUSJCVUFTWBMVFJTFNQUZ
    JOQVU Q FMFNFOUXJUIB UZQF Q CVUUPO SPMF
    BUUSJCVUFJOUIF #VUUPO Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q DIFDLCPY SPMF XJUIUIF BSJBDIFDLFE TUBUFTFUUPNJYFEJGUIFFMFNFOUT JOEFUFSNJOBUF Q *%-
    BUUSJCVUFJOUIF $IFDLCPY Q TUBUF BUUSJCVUFJTUSVF PSUSVFJGUIFFMFNFOUT DIFDLFEOFTT Q JTUSVF PSGBMTFPUIFSXJTF
    JOQVU Q FMFNFOUXJUIB UZQF Q /PSPMF
    BUUSJCVUFJOUIF $PMPS Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q /PSPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q BUUSJCVUF
    BUUSJCVUFJOUIF %BUF Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q /PSPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q BUUSJCVUF
    BUUSJCVUFJOUIF %BUFBOE5JNF Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q /PSPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q BUUSJCVUF
    BUUSJCVUFJOUIF -PDBM%BUFBOE5JNF Q
    TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q UFYUCPY SPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q
    BUUSJCVUFJOUIF &NBJM Q TUBUFXJUIOP BUUSJCVUF
    TVHHFTUJPOTTPVSDFFMFNFOU Q
    JOQVU Q FMFNFOUXJUIB UZQF Q CVUUPO SPMF
    BUUSJCVUFJOUIF 'JMF6QMPBE Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q /PSPMF
    BUUSJCVUFJOUIF )JEEFO Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q CVUUPO SPMF
    BUUSJCVUFJOUIF *NBHF#VUUPO Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q /PSPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q BUUSJCVUF
    BUUSJCVUFJOUIF .POUI Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q TQJOCVUUPO SPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q
    BUUSJCVUFJOUIF /VNCFS Q TUBUF BUUSJCVUF UIF BSJBWBMVFNBY QSPQFSUZTFUUPUIFFMFNFOUT NBYJNVN Q UIF BSJBWBMVFNJO
    QSPQFSUZTFUUPUIFFMFNFOUT NJOJNVN Q BOE JGUIFSFTVMUPGBQQMZJOHUIF SVMFTGPSQBSTJOH
    ЙPBUJOHQPJOUOVNCFSWBMVFT Q UPUIFFMFNFOUT WBMVF Q JTBOVNCFS XJUIUIF BSJBWBMVFOPX
    QSPQFSUZTFUUPUIBUOVNCFS
    JOQVU Q FMFNFOUXJUIB UZQF Q UFYUCPY SPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q
    BUUSJCVUFJOUIF 1BTTXPSE Q TUBUF BUUSJCVUF
    JOQVU Q FMFNFOUXJUIB UZQF Q SBEJP SPMF XJUIUIF BSJBDIFDLFE TUBUFTFUUPUSVFJGUIFFMFNFOUT DIFDLFEOFTT Q JTUSVF PS
    BUUSJCVUFJOUIF 3BEJP#VUUPO Q TUBUF GBMTFPUIFSXJTF
    JOQVU Q FMFNFOUXJUIB UZQF Q TMJEFS SPMF XJUIUIF BSJBWBMVFNBY QSPQFSUZTFUUPUIFFMFNFOUT NBYJNVN Q UIF BSJB
    BUUSJCVUFJOUIF 3BOHF Q TUBUF WBMVFNJO QSPQFSUZTFUUPUIFFMFNFOUT NJOJNVN Q BOEUIF BSJBWBMVFOPX QSPQFSUZTFUUPUIF
    SFTVMUPGBQQMZJOHUIF SVMFTGPSQBSTJOHЙPBUJOHQPJOUOVNCFSWBMVFT Q UPUIFFMFNFOUT WBMVF Q JG
    UIBUUIBUSFTVMUTJOBOVNCFS PSUIF EFGBVMUWBMVF Q PUIFSXJTF
    JOQVU Q FMFNFOUXJUIB UZQF Q CVUUPO SPMF
    BUUSJCVUFJOUIF 3FTFU#VUUPO Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q UFYUCPY SPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q
    BUUSJCVUFJOUIF 4FBSDI Q TUBUFXJUIOP BUUSJCVUF
    TVHHFTUJPOTTPVSDFFMFNFOU Q
    JOQVU Q FMFNFOUXJUIB UZQF Q CVUUPO SPMF
    BUUSJCVUFJOUIF 4VCNJU#VUUPO Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q UFYUCPY SPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q
    BUUSJCVUFJOUIF 5FMFQIPOF Q TUBUFXJUI BUUSJCVUF
    OP TVHHFTUJPOTTPVSDFFMFNFOU Q
    JOQVU Q FMFNFOUXJUIB UZQF Q UFYUCPY SPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q
    BUUSJCVUFJOUIF 5FYU Q TUBUFXJUIOP BUUSJCVUF
    TVHHFTUJPOTTPVSDFFMFNFOU Q
    JOQVU Q FMFNFOUXJUIB UZQF Q DPNCPCPY SPMF XJUIUIF BSJBPXOT QSPQFSUZTFUUPUIFTBNFWBMVFBTUIF MJTU Q BUUSJCVUF BOEUIF
    BUUSJCVUFJOUIF 5FYU Q 4FBSDI Q BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q BUUSJCVUF
    5FMFQIPOF Q 63- Q PS &NBJM Q
    TUBUFTXJUIB TVHHFTUJPOTTPVSDF
    FMFNFOU Q

    
    (;HAO;A?@?;NOL? /NLIHAH;NCP?M?G;HNC=M ;H>CGJFC?>.%M?G;HNC=M
    JOQVU Q FMFNFOUXJUIB UZQF Q /PSPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q BUUSJCVUF
    BUUSJCVUFJOUIF 5JNF Q TUBUF
    JOQVU Q FMFNFOUXJUIB UZQF Q UFYUCPY SPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q
    BUUSJCVUFJOUIF 63- Q TUBUFXJUIOP BUUSJCVUF
    TVHHFTUJPOTTPVSDFFMFNFOU Q
    JOQVU Q FMFNFOUXJUIB UZQF Q /PSPMF XJUIUIF BSJBSFBEPOMZ TUBUFTFUUPUSVFJGUIFFMFNFOUIBTB SFBEPOMZ Q BUUSJCVUF
    BUUSJCVUFJOUIF 8FFL Q TUBUF
    MJOL Q FMFNFOUUIBUSFQSFTFOUTB MJOL SPMF
    IZQFSMJOL Q
    NFOV Q FMFNFOUXJUIB UZQF Q /PSPMF
    BUUSJCVUFJOUIF DPOUFYUNFOV Q TUBUF
    NFOV Q FMFNFOUXJUIB UZQF Q NFOV SPMF
    BUUSJCVUFJOUIF MJTU Q TUBUF
    NFOV Q FMFNFOUXJUIB UZQF Q UPPMCBS SPMF
    BUUSJCVUFJOUIF UPPMCBS Q TUBUF
    OBW Q FMFNFOU OBWJHBUJPO SPMF
    PQUJPO Q FMFNFOUUIBUJTJOB MJTUPG PQUJPO SPMF XJUIUIF BSJBTFMFDUFE TUBUFTFUUPUSVFJGUIFFMFNFOUT TFMFDUFEOFTT Q JTUSVF PS
    PQUJPOT Q PSUIBUSFQSFTFOUTB GBMTFPUIFSXJTF
    TVHHFTUJPOJOB EBUBMJTU Q FMFNFOU
    QSPHSFTT Q FMFNFOU QSPHSFTTCBS SPMF XJUI JGUIFQSPHSFTTCBSJTEFUFSNJOBUF UIF BSJBWBMVFNBY QSPQFSUZTFUUPUIF
    NBYJNVNWBMVFPGUIFQSPHSFTTCBS UIF BSJBWBMVFNJO QSPQFSUZTFUUP[FSP BOEUIF BSJB
    WBMVFOPX QSPQFSUZTFUUPUIFDVSSFOUWBMVFPGUIFQSPHSFTTCBS
    TFMFDU Q FMFNFOUXJUIB NVMUJQMF Q MJTUCPY SPMF XJUIUIF BSJBNVMUJTFMFDUBCMF QSPQFSUZTFUUPUSVF
    BUUSJCVUF
    TFMFDU Q FMFNFOUXJUIOP NVMUJQMF Q MJTUCPY SPMF XJUIUIF BSJBNVMUJTFMFDUBCMF QSPQFSUZTFUUPGBMTF
    BUUSJCVUF
    UE Q FMFNFOU HSJEDFMM SPMF XJUIUIF BSJBMBCFMMFECZ QSPQFSUZTFUUPUIFWBMVFPGUIF IFBEFST Q BUUSJCVUF JG
    BOZ
    UFYUBSFB Q FMFNFOU UFYUCPY SPMF XJUIUIF BSJBNVMUJMJOF QSPQFSUZTFUUPUSVF BOEUIF BSJBSFBEPOMZ TUBUFTFUUP
    USVFJGUIFFMFNFOUIBTB SFBEPOMZ Q BUUSJCVUF
    UI Q FMFNFOUUIBUJTOFJUIFSB DPMVNO HSJEDFMM SPMF XJUIUIF BSJBMBCFMMFECZ QSPQFSUZTFUUPUIFWBMVFPGUIF IFBEFST Q BUUSJCVUF JG
    IFBEFS Q OPSB SPXIFBEFS Q BOZ
    UI Q FMFNFOUUIBUJTB DPMVNO DPMVNOIFBEFS SPMF XJUIUIF BSJBMBCFMMFECZ QSPQFSUZTFUUPUIFWBMVFPGUIF IFBEFST Q
    IFBEFS Q BUUSJCVUF JGBOZ
    UI Q FMFNFOUUIBUJTB SPXIFBEFS Q SPXIFBEFS SPMF XJUIUIF BSJBMBCFMMFECZ QSPQFSUZTFUUPUIFWBMVFPGUIF IFBEFST Q BUUSJCVUF JG
    BOZ
    US Q FMFNFOU SPX SPMF
    "OFMFNFOUUIBU EFИOFTBDPNNBOE Q NFOVJUFNDIFDLCPY SPMF XJUIUIF BSJBDIFDLFE TUBUFTFUUPUSVFJGUIFDPNNBOET $IFDLFE
    Q
    XIPTF 5ZQF Q GBDFUJTDIFDLCPY BOE 4UBUF GBDFUJTUSVF BOEGBMTFPUIFSXJTF
    UIBUJTBEFTDFOEBOUPGB NFOV Q
    FMFNFOUXIPTF UZQF Q BUUSJCVUFJOUIF
    MJTU Q TUBUF
    "OFMFNFOUUIBU EFИOFTBDPNNBOE Q NFOVJUFN SPMF
    XIPTF 5ZQF Q GBDFUJTDPNNBOE BOE
    UIBUJTBEFTDFOEBOUPGB NFOV Q
    FMFNFOUXIPTF UZQF Q BUUSJCVUFJOUIF
    MJTU Q TUBUF
    "OFMFNFOUUIBU EFИOFTBDPNNBOE Q NFOVJUFNSBEJP SPMF XJUIUIF BSJBDIFDLFE TUBUFTFUUPUSVFJGUIFDPNNBOET $IFDLFE4UBUF Q
    XIPTF 5ZQF Q GBDFUJTSBEJP BOEUIBU GBDFUJTUSVF BOEGBMTFPUIFSXJTF
    JTBEFTDFOEBOUPGB NFOV Q FMFNFOU
    XIPTF UZQF Q BUUSJCVUFJOUIF MJTU Q
    TUBUF
    &MFNFOUTUIBUBSF EJTBCMFE Q 5IF BSJBEJTBCMFE TUBUFTFUUPUSVF
    &MFNFOUTUIBUBSF SFRVJSFE Q 5IF BSJBSFRVJSFE TUBUFTFUUPUSVF

    4PNF )5.-FMFNFOUT Q IBWFOBUJWFTFNBOUJDTUIBUDBOCFPWFSSJEEFO5IFGPMMPXJOHUBCMFMJTUTUIFTFFMFNFOUT BOE


    UIFJS JNQMJDJU"3*"TFNBOUJDT BMPOHXJUIUIFSFTUSJDUJPOTUIBUBQQMZUPUIPTFFMFNFOUT&BDIMBOHVBHFGFBUVSF FMFNFOU
    PSBUUSJCVUF
    JOBDFMMJOUIFИSTUDPMVNOJNQMJFT VOMFTTPUIFSXJTFPWFSSJEFO UIF"3*"TFNBOUJD SPMF TUBUF PS
    QSPQFSUZ
    HJWFOJOUIFDFMMJOUIFTFDPOEDPMVNOPGUIFTBNFSPX CVUUIJTTFNBOUJDNBZCFPWFSSJEEFOVOEFSUIF
    DPOEJUJPOTMJTUFEJOUIFDFMMJOUIFUIJSEDPMVNOPGUIBUSPX

    (;HAO;A?@?;NOL? ?@;OFN .?MNLC=NCIHM


    CGJFC?>.%
    M?G;HNC=

    BEESFTT Q FMFNFOU /PSPMF *GTQFDJИFE SPMFNVTUCF DPOUFOUJOGP "3*"SFTUSJDUTVTBHFPGUIJTSPMFUPPOFQFSQBHF

    
    (;HAO;A?@?;NOL? ?@;OFN .?MNLC=NCIHM
    CGJFC?>.%
    M?G;HNC=
    BSUJDMF Q FMFNFOU BSUJDMF SPMF 3PMFNVTUCFFJUIFS BSUJDMF EPDVNFOU BQQMJDBUJPO PS NBJO "3*"SFTUSJDUTVTBHFPGUIJTSPMFUP
    POFQFSQBHF

    BTJEF Q FMFNFOU OPUF SPMF 3PMFNVTUCFFJUIFS OPUF DPNQMFNFOUBSZ PS TFBSDI
    GPPUFS Q FMFNFOU /PSPMF *GTQFDJИFE SPMFNVTUCF DPOUFOUJOGP "3*"SFTUSJDUTVTBHFPGUIJTSPMFUPPOFQFSQBHF

    IFBEFS Q FMFNFOU /PSPMF *GTQFDJИFE SPMFNVTUCF CBOOFS "3*"SFTUSJDUTVTBHFPGUIJTSPMFUPPOFQFSQBHF

    MJ Q FMFNFOUXIPTF MJTUJUFN SPMF 3PMFNVTUCFFJUIFS MJTUJUFN PS USFFJUFN


    QBSFOUJTBO PM Q PS
    VM Q FMFNFOU
    PM Q FMFNFOU MJTU SPMF 3PMFNVTUCFFJUIFS MJTU USFF PS EJSFDUPSZ
    PVUQVU Q FMFNFOU TUBUVT SPMF /PSFTUSJDUJPOT
    TFDUJPO Q FMFNFOU SFHJPO SPMF 3PMFNVTUCFFJUIFS SFHJPO EPDVNFOU BQQMJDBUJPO DPOUFOUJOGP "3*"SFTUSJDUTVTBHFPGUIJTSPMF
    UPPOFQFSQBHF
    NBJO "3*"SFTUSJDUTVTBHFPGUIJTSPMFUPPOFQFSQBHF
    TFBSDI BMFSU EJBMPH
    BMFSUEJBMPH TUBUVT PS MPH
    UBCMF Q FMFNFOU HSJE SPMF 3PMFNVTUCFFJUIFS HSJE PS USFFHSJE
    VM Q FMFNFOU MJTU SPMF 3PMFNVTUCFFJUIFS MJTU PS USFF PS EJSFDUPSZ
    5IFCPEZFMFNFOU Q EPDVNFOU SPMF 3PMFNVTUCFFJUIFS EPDVNFOU PS BQQMJDBUJPO

    6TFSBHFOUTNBZBQQMZEJЗFSFOUEFGBVMUTUIBOUIPTFEFTDSJCFEJOUIJTTFDUJPOJOPSEFSUPFYQPTFUIFTFNBOUJDTPG )5.-
    FMFNFOUT Q JOBNBOOFSNPSFИOFHSBJOFEUIBOQPTTJCMFXJUIUIFBCPWFEFИOJUJPOT

    $POGPSNBODFDIFDLFSTBSFFODPVSBHFEUPQISBTFFSSPSTTVDIUIBUBVUIPSTBSFFODPVSBHFEUPVTFNPSFBQQSPQSJBUF
    FMFNFOUTSBUIFSUIBOSFNPWFBDDFTTJCJMJUZBOOPUBUJPOT'PSFYBNQMF JGBO B Q FMFNFOUJTNBSLFEBTIBWJOHUIF
    CVUUPO SPMF BDPOGPSNBODFDIFDLFSDPVMETBZ&JUIFSB CVUUPO Q FMFNFOUPSBO JOQVU Q FMFNFOUJTSFRVJSFEXIFO
    VTJOHUIF CVUUPO SPMFSBUIFSUIBO5IF CVUUPO SPMFDBOOPUCFVTFEXJUI B Q FMFNFOUT

      ,%MCH$0)(>I=OG?HNM

    'PS )5.-EPDVNFOUT Q BOEGPS )5.-FMFNFOUT Q JO )5.-EPDVNFOUT Q DFSUBJO"1*TEFИOFEJO%0.$PSFCFDPNF


    DBTFJOTFOTJUJWFPSDBTFDIBOHJOH BTTPNFUJNFTEFИOFEJO%0.$PSF BOEBTTVNNBSJ[FE PSSFRVJSFE CFMPX
    <%0.$03&> Q

    5IJTEPFTOPUBQQMZUP 9.-EPDVNFOUT Q PSUPFMFNFOUTUIBUBSFOPUJOUIF )5.-OBNFTQBDF Q EFTQJUFCFJOHJO )5.-


    EPDVNFOUT Q 

    #G@H@IO O<B,<H@ K ;H> ,J?@ IJ?@,<H@


    5IFTFBUUSJCVUFT NVTU SFUVSOFMFNFOUOBNFT DPOWFSUFEUP"4$**VQQFSDBTF Q SFHBSEMFTTPGUIFDBTFXJUIXIJDI
    UIFZXFSFDSFBUFE

    "J>PH@IO >M@<O@#G@H@IO
    5IFDBOPOJDBMGPSNPG)5.-NBSLVQJTBMMMPXFSDBTFUIVT UIJTNFUIPEXJMM MPXFSDBTF Q UIFBSHVNFOUCFGPSF
    DSFBUJOHUIFSFRVJTJUFFMFNFOU "MTP UIFFMFNFOUDSFBUFENVTUCFJOUIF )5.-OBNFTQBDF Q 

    *HM> 0ABL=H>LGM:IIERMH #H<NF>GM <K>:M>$E>F>GM,1 0ANL BMBLIHLLB;E> ;RI:LLBG@MABL


    E:LMF>MAH=:M:@G:F>BGMA>PKHG@<:L> MH<K>:M>:G>E>F>GMMA:M:II>:KLMHA:O>MA>
    L:F>M:@G:F>:LMA:MH?:G>E>F>GM=>[G>=BGMABLLI><B[<:MBHGPA>GBML M:@,:F> I
    :MMKB;NM>BL>Q:FBG>= ;NMMA:M=H>LGMLNIIHKMMA><HKK>LIHG=BG@BGM>K?:<>L 0A>K>:E
    >E>F>GMG:F>NG:Z><M>=;R<:L><HGO>KLBHGL<:G;>H;M:BG>=?KHFMA> EH<:E,:F> I
    :MMKB;NM>

    #G@H@IO N@OOOMD=PO@
    #G@H@IO N@OOOMD=PO@,J?@
    "UUSJCVUFOBNFTBSF DPOWFSUFEUP"4$**MPXFSDBTF Q 

    4QFDJИDBMMZXIFOBOBUUSJCVUFJTTFUPOBO )5.-FMFNFOU Q VTJOH &MFNFOUTFU"UUSJCVUF


    UIFOBNF
    BSHVNFOUNVTUCF DPOWFSUFEUP"4$**MPXFSDBTF Q CFGPSFUIFFMFNFOUJTBЗFDUFEBOEXIFOBO "UUS Q OPEFJT
    TFUPOBO )5.-FMFNFOU Q VTJOH &MFNFOUTFU"UUSJCVUF/PEF
    JUNVTUIBWFJUTOBNF DPOWFSUFEUP"4$**
    MPXFSDBTF Q CFGPSFUIFFMFNFOUJTBЗFDUFE

    *HM> 0ABL=H>LGM:IIERMH $E>F>GM L>M MMKB;NM>,1 :G= $E>F>GM L>M MMKB;NM>,H=>,1

    
    #G@H@IO B@OOOMD=PO@
    #G@H@IO B@OOOMD=PO@,J?@
    "UUSJCVUFOBNFTBSF DPOWFSUFEUP"4$**MPXFSDBTF Q 

    4QFDJИDBMMZ8IFOUIF &MFNFOUHFU"UUSJCVUF
    NFUIPEPSUIF &MFNFOUHFU"UUSJCVUF/PEF
    NFUIPEJT
    JOWPLFEPOBO )5.-FMFNFOU Q UIFOBNFBSHVNFOUNVTUCF DPOWFSUFEUP"4$**MPXFSDBTF Q CFGPSFUIF
    FMFNFOUTBUUSJCVUFTBSFFYBNJOFE

    *HM> 0ABL=H>LGM:IIERMH $E>F>GM @>M MMKB;NM>,1 :G= $E>F>GM @>M MMKB;NM>,H=>,1

    "J>PH@IO B@O#G@H@ION T2<B,<H@


    #G@H@IO B@O#G@H@ION T2<B,<H@
    )5.-FMFNFOUTNBUDICZMPXFSDBTJOHUIFBSHVNFOUCFGPSFDPNQBSJTPO FMFNFOUTGSPNPUIFSOBNFTQBDFTBSF
    USFBUFEBTJO9.- DBTFTFOTJUJWFMZ
    

    4QFDJИDBMMZ UIFTFNFUIPET CVUOPUUIFJSOBNFTQBDFEDPVOUFSQBSUT


    NVTUDPNQBSFUIFHJWFOBSHVNFOUJOB
    DBTFTFOTJUJWF Q NBOOFS CVUXIFOMPPLJOHBU )5.-FMFNFOUT Q UIFBSHVNFOUNVTUИSTUCF DPOWFSUFEUP"4$**
    MPXFSDBTF Q 

    *HM> 0ANL BG:G $0)(=H<NF>GM I PBMAGH=>LBGFNEMBIE>G:F>LI:<>L MA>L>F>MAH=LPBEE


    >Z><MBO>ER;>;HMA<:L>
    L>GLBMBO>:G=<:L>
    BGL>GLBMBO>:MMA>L:F>MBF>

      %HN?L;=NCIHMQCNB4,;NB;H>4/(0

    *NQMFNFOUBUJPOTPG91BUIUIBUPQFSBUFPO)5.-EPDVNFOUTQBSTFEPSDSFBUFEJOUIFNBOOFSTEFTDSJCFEJOUIJT
    TQFDJИDBUJPO FHBTQBSUPGUIF EPDVNFOUFWBMVBUF
    "1*
    NVTUBDUBTJGUIFGPMMPXJOHFEJUXBTBQQMJFEUPUIF91BUI
    TQFDJИDBUJPO

    'JSTU SFNPWFUIJTQBSBHSBQI

     '$0<4 8=C74=>34C4BC8B4G?0=3438=C>0= 4G?0=343=0<4 DB8=6C74=0<4B?024342;0A0C8>=B5A><C74


    4G?A4BB8>=2>=C4GC *78B8BC74B0<4F0H4G?0=B8>=8B3>=45>A4;4<4=CCH?4=0<4B8=BC0AC0=34=3C06B4G24?C
    C70CC743450D;C=0<4B?024342;0A43F8C7 0%$&+ 8B=>CDB4385C74 '$0<4 3>4B=>C70E40?A4PGC74=C74
    =0<4B?024+(8B=D;;C78B8BC74B0<4F0H0CCA81DC4=0<4B0A44G?0=343 C8B0=4AA>A85C74 '$0<4 70B0
    ?A4PG5>AF7827C74A48B=>=0<4B?024342;0A0C8>=8=C744G?A4BB8>=2>=C4GC

    5IFO JOTFSUJOJUTQMBDFUIFGPMMPXJOH

    '$0<48=C74=>34C4BC8B4G?0=3438=C>0=4G?0=343=0<4DB8=6C74=0<4B?024342;0A0C8>=B5A><C74
    4G?A4BB8>=2>=C4GC 5C74'$0<470B0?A4PGC74=C74A4<DBC140=0<4B?024342;0A0C8>=5>AC78B?A4PG8=C74
    4G?A4BB8>=2>=C4GC0=3C742>AA4B?>=38=6=0<4B?024+(8BC74>=4C70C8B0BB>280C43F8C7C78B?A4PG C8B0=
    4AA>A85C74'$0<470B0?A4PG5>AF7827C74A48B=>=0<4B?024342;0A0C8>=8=C744G?A4BB8>=2>=C4GC

    5C74'$0<470B=>?A4PG0=3C74?A8=28?0;=>34CH?4>5C740G8B8B4;4<4=CC74=C743450D;C4;4<4=C
    =0<4B?0248BDB43 %C74AF8B485C74'$0<470B=>?A4PGC74=0<4B?024+(8B=D;; *743450D;C4;4<4=C
    =0<4B?0248B0<4<14A>5C742>=C4GC5>AC74.&0C74G?A4BB8>= *74E0;D4>5C743450D;C4;4<4=C=0<4B?024
    F74=4G42DC8=60=.&0C74G?A4BB8>=C7A>D67C74%#.&0C7&8B34C4A<8=438=C745>;;>F8=6F0H

    5C742>=C4GC=>348B5A><0=*#"%#C743450D;C4;4<4=C=0<4B?0248B7CC?

    FFF F >A6
    

    G7C<;

    %C74AF8B4C743450D;C4;4<4=C=0<4B?024+(8B=D;;

    *HM> 0ABLBL>JNBO:E>GMMH:==BG@MA>=>?:NEM>E>F>GMG:F>LI:<>?>:MNK>H?4,:MA MH


    4,:MA :G=NLBG@MA>$0)(G:F>LI:<>:LMA>=>?:NEM>E>F>GMG:F>LI:<>?HK$0)(
    =H<NF>GML %MBLFHMBO:M>=;RMA>=>LBK>MHA:O>BFIE>F>GM:MBHGL;><HFI:MB;E>PBMAE>@:<R
    $0)(<HGM>GMPABE>LMBEELNIIHKMBG@MA><A:G@>LMA:MMABLLI><B[<:MBHGBGMKH=N<>LMH$0)(
    K>@:K=BG@MA>G:F>LI:<>NL>=?HK$0)(>E>F>GML :G=;RMA>=>LBK>MHNL>4,:MA K:MA>K
    MA:G4,:MA

    *HM> 0ABL<A:G@>BL: PBEE?NEOBHE:MBHG I H?MA>4,:MA LI><B[<:MBHG FHMBO:M>=;R=>LBK>MH


    A:O>BFIE>F>GM:MBHGL;><HFI:MB;E>PBMAE>@:<R<HGM>GMPABE>LMBEELNIIHKMBG@MA><A:G@>LMA:M
    MABLLI><B[<:MBHGBGMKH=N<>LMH$0)(K>@:K=BG@PAB<AG:F>LI:<>BLNL>=?HK$0)(>E>F>GML
    74,0$ 8 I

    
    94-5QSPDFTTPSTPVUQVUUJOHUPB%0.XIFOUIFPVUQVUNFUIPEJTIUNM FJUIFSFYQMJDJUMZPSWJBUIFEFGBVMUJOHSVMF
    JO94-5
    BSFBЗFDUFEBTGPMMPXT

    *GUIFUSBOTGPSNBUJPOQSPHSBNPVUQVUTBOFMFNFOUJOOPOBNFTQBDF UIFQSPDFTTPSNVTU QSJPSUPDPOTUSVDUJOHUIF


    DPSSFTQPOEJOH%0.FMFNFOUOPEF DIBOHFUIFOBNFTQBDFPGUIFFMFNFOUUPUIF )5.-OBNFTQBDF Q "4$**
    MPXFSDBTF Q UIFFMFNFOUTMPDBMOBNF BOE "4$**MPXFSDBTF Q UIFOBNFTPGBOZOPOOBNFTQBDFEBUUSJCVUFTPOUIF
    FMFNFOU

    *HM> 0ABLK>JNBK>F>GMBL: PBEE?NEOBHE:MBHG I H?MA>4/(0 LI><B[<:MBHG K>JNBK>=;><:NL>MABL


    LI><B[<:MBHG<A:G@>LMA>G:F>LI:<>L:G=<:L>
    L>GLBMBOBMRKNE>LH?$0)(BG:F:GG>KMA:MPHNE=
    HMA>KPBL>;>BG<HFI:MB;E>PBMA +)
    ;:L>=4/(0MK:GL?HKF:MBHGL ,KH<>LLHKLMA:ML>KB:EBS>MA>
    HNMINM:K>NG:Z><M>=  74/(0 8 I

      SH;GC=G;LEOJCHM?LNCIH

    *HM> ,%L?HK=RG:FB<:EERBGL>KMBG@F:KDNIBGMHMA>=H<NF>GMBGM>K:<MPBMAMA>I:KL>K :G=MANL


    MA>BK;>A:OBHKO:KB>L=>I>G=BG@HGPA>MA>KMA>R:K>NL>=PBMA $0)(=H<NF>GML I :G=MA>
    $0)(I:KL>K I HK4$0)(BG 4)(=H<NF>GML I :G=MA> 4)(I:KL>K I 

       +J?HCHANB?CHJONMNL?;G

    5IF JK@I NFUIPEDPNFTJOTFWFSBMWBSJBOUTXJUIEJЗFSFOUOVNCFSTPGBSHVNFOUT

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    =H<NF>GM  =H<NF>GM JK@I K 7 MRI> 7
    K>IE:<> 88
    $BVTFTUIF %PDVNFOU Q UPCFSFQMBDFEJOQMBDF BTJGJUXBTBOFX %PDVNFOU Q PCKFDU CVUSFVTJOHUIF
    QSFWJPVTPCKFDU XIJDIJTUIFOSFUVSOFE
    *GUIF CH?4 BSHVNFOUJTPNJUUFEPSIBTUIFWBMVFUFYUIUNM Q  UIFOUIFSFTVMUJOH %PDVNFOU Q IBTBO
    )5.-QBSTFSBTTPDJBUFEXJUIJU XIJDIDBOCFHJWFOEBUBUPQBSTFVTJOH EPDVNFOUXSJUF
    Q 0UIFSXJTF
    BMMDPOUFOUQBTTFEUP EPDVNFOUXSJUF
    Q XJMMCFQBSTFEBTQMBJOUFYU
    *GUIF A4?;024 BSHVNFOUJTQSFTFOUBOEIBTUIFWBMVFSFQMBDF UIFFYJTUJOHFOUSJFTJOUIFTFTTJPOIJTUPSZ
    GPSUIF %PDVNFOU Q PCKFDUBSFSFNPWFE
    5IFNFUIPEIBTOPFЗFDUJGUIF %PDVNFOU Q JTTUJMMCFJOHQBSTFE
    5ISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIF %PDVNFOU Q JTBO 9.-EPDVNFOU Q 

    PBG=HP  =H<NF>GM JK@I K  NKE


    G:F>
    ?>:MNK>L 7
    K>IE:<> 8
    8PSLTMJLFUIF XJOEPXPQFO
    Q NFUIPE

    8IFODBMMFEXJUIUXPPSGFXFSBSHVNFOUT UIFNFUIPENVTUBDUBTGPMMPXT

     *GUIF %PDVNFOU Q PCKFDUJTOPUЙBHHFEBTBO )5.-EPDVNFOU Q UISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPO
    BOEBCPSUUIFTFTUFQT

     -FU CH?4 CFUIFWBMVFPGUIFИSTUBSHVNFOU JGUIFSFJTPOF PSUFYUIUNM Q PUIFSXJTF

     -FU A4?;024 CFUSVFJGUIFSFJTBTFDPOEBSHVNFOUBOEJUJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFWBMVF


    SFQMBDF BOEGBMTFPUIFSXJTF

     *GUIFEPDVNFOUIBTBO BDUJWFQBSTFS Q UIBUJTOUB TDSJQUDSFBUFEQBSTFS Q BOEUIF JOTFSUJPOQPJOU Q


    BTTPDJBUFEXJUIUIBUQBSTFST JOQVUTUSFBN Q JTOPUVOEFИOFE UIBUJT JU 3>4B QPJOUUPTPNFXIFSFJOUIF
    JOQVUTUSFBN
    UIFOUIFNFUIPEEPFTOPUIJOH"CPSUUIFTFTUFQTBOESFUVSOUIF %PDVNFOU Q PCKFDUPOXIJDI
    UIFNFUIPEXBTJOWPLFE

    *HM> 0ABL;:LB<:EER<:NL>L =H<NF>GM HI>G I MH;>B@GHK>=PA>GBML<:EE>=BG:GBGEBG>


    L<KBIM?HNG==NKBG@MA>I:KLBG@H?=:M:L>GMHO>KMA>G>MPHKD PABE>LMBEEE>MMBG@BMA:O>
    :G>Z><MPA>G<:EE>=:LRG<AKHGHNLERHKHG:=H<NF>GMMA:MBLBML>E?;>BG@LIHHG
    ?>=
    NLBG@MA>L>,%L

    
     3FMFBTFUIF TUPSBHFNVUFY Q 

     1SPNQUUPVOMPBE Q UIF %PDVNFOU Q PCKFDU*GUIFVTFS SFGVTFEUPBMMPXUIFEPDVNFOUUPCFVOMPBEFE Q


    UIFOUIFTFTUFQTNVTUCFBCPSUFE

     6OMPBE Q UIF %PDVNFOU Q PCKFDU XJUIUIF A42H2;4 QBSBNFUFSTFUUPUSVF

     *GUIFEPDVNFOUIBTBO BDUJWFQBSTFS Q UIFO BCPSUUIBUQBSTFS Q 

     6OSFHJTUFSBMMFWFOUMJTUFOFSTSFHJTUFSFEPOUIF %PDVNFOU Q OPEFBOEJUTEFTDFOEBOUT

     3FNPWFBOZ UBTLT Q BTTPDJBUFEXJUIUIF %PDVNFOU Q JOBOZ UBTLTPVSDF Q 

     3FNPWFBMMDIJMEOPEFTPGUIFEPDVNFOU XJUIPVUИSJOHBOZNVUBUJPOFWFOUT

     3FQMBDFUIF %PDVNFOU Q TTJOHMFUPOPCKFDUTXJUIOFXJOTUBODFTPGUIPTFPCKFDUT 5IJTJODMVEFTJOQBSUJDVMBS


    UIF 8JOEPX Q -PDBUJPO Q )JTUPSZ Q "QQMJDBUJPO$BDIF Q 6OEP.BOBHFS Q /BWJHBUPS Q BOE
    4FMFDUJPO Q PCKFDUT UIFWBSJPVT #BS1SPQ Q PCKFDUT UIFUXP 4UPSBHF PCKFDUT BOEUIFWBSJPVT
    )5.-$PMMFDUJPO Q PCKFDUT*UBMTPJODMVEFTBMMUIF8FC*%-QSPUPUZQFTJOUIF+BWB4DSJQUCJOEJOH JODMVEJOH
    UIF %PDVNFOU Q PCKFDUTQSPUPUZQF

     $IBOHFUIF EPDVNFOUTDIBSBDUFSFODPEJOH Q UP65'

     $IBOHF UIFEPDVNFOUTBEESFTT Q UPUIF FOUSZTDSJQU Q T EPDVNFOU Q T BEESFTT Q 

     $SFBUFBOFX )5.-QBSTFS Q BOEBTTPDJBUFJUXJUIUIFEPDVNFOU5IJTJTB M=LCJN =L?;N?>J;LM?L


    NFBOJOHUIBUJUDBOCFDMPTFECZUIF EPDVNFOUPQFO
    Q BOE EPDVNFOUDMPTF
    Q NFUIPET BOEUIBU
    UIFUPLFOJ[FSXJMMXBJUGPSBOFYQMJDJUDBMMUP EPDVNFOUDMPTF
    Q CFGPSFFNJUUJOHBOFOEPGИMFUPLFO
    5IF
    FODPEJOH DPOИEFODF Q JT 8AA4;4E0=C

     *GUIF CH?4 TUSJOHDPOUBJOTB6 #4&.*$0-0/DIBSBDUFS 


    SFNPWFUIFИSTUTVDIDIBSBDUFSBOEBMM
    DIBSBDUFSTGSPNJUVQUPUIFFOEPGUIFTUSJOH

    4USJQBMMMFBEJOHBOEUSBJMJOH TQBDFDIBSBDUFST Q GSPN CH?4

    *G CH?4 JT =>C OPXBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHUFYUIUNM Q  UIFOBDUBTJGUIF


    UPLFOJ[FSIBEFNJUUFEBTUBSUUBHUPLFOXJUIUIFUBHOBNFQSF UIFOTXJUDIUIF )5.-QBSTFS Q TUPLFOJ[FS
    UPUIF 1-"*/5&95TUBUF Q 

     3FNPWFBMMUIFFOUSJFTJOUIF CSPXTJOHDPOUFYU Q T TFTTJPOIJTUPSZ Q BGUFSUIF DVSSFOUFOUSZ Q *GUIF
    DVSSFOUFOUSZ Q JTUIFMBTUFOUSZJOUIFTFTTJPOIJTUPSZ UIFOOPFOUSJFTBSFSFNPWFE

    *HM> 0ABL =H>LGMG><>LL:KBERA:O>MH:Z><M I MA>NL>K:@>GMLNL>KBGM>K?:<>

     3FNPWFBOZ UBTLT Q RVFVFECZUIF IJTUPSZUSBWFSTBMUBTLTPVSDF Q 

     3FNPWFBOZFBSMJFSFOUSJFTUIBUTIBSFUIFTBNF %PDVNFOU Q 

     *G A4?;024 JTGBMTF UIFOBEEBOFXFOUSZ KVTUCFGPSFUIFMBTUFOUSZ BOEBTTPDJBUFXJUIUIFOFXFOUSZUIFUFYU


    UIBUXBTQBSTFECZUIFQSFWJPVTQBSTFSBTTPDJBUFEXJUIUIF %PDVNFOU Q PCKFDU BTXFMMBTUIFTUBUFPGUIF
    EPDVNFOUBUUIFTUBSUPGUIFTFTUFQT 5IJTBMMPXTUIFVTFSUPTUFQCBDLXBSETJOUIFTFTTJPOIJTUPSZUPTFF
    UIFQBHFCFGPSFJUXBTCMPXOBXBZCZUIF EPDVNFOUPQFO
    Q DBMM

     'JOBMMZ TFUUIF JOTFSUJPOQPJOU Q UPQPJOUBUKVTUCFGPSFUIFFOEPGUIF JOQVUTUSFBN Q XIJDIBUUIJTQPJOU


    XJMMCFFNQUZ
    

     3FUVSOUIF %PDVNFOU Q POXIJDIUIFNFUIPEXBTJOWPLFE

    8IFODBMMFEXJUIUISFFPSNPSFBSHVNFOUT UIF PQFO


    Q NFUIPEPOUIF )5.-%PDVNFOU Q PCKFDUNVTUDBMMUIF
    PQFO
    Q NFUIPEPOUIF 8JOEPX Q PCKFDUPGUIF )5.-%PDVNFOU Q PCKFDU XJUIUIFTBNFBSHVNFOUTBTUIFPSJHJOBM
    DBMMUPUIF PQFO
    Q NFUIPE BOESFUVSOXIBUFWFSUIBUNFUIPESFUVSOFE*GUIF )5.-%PDVNFOU Q PCKFDUIBTOP
    8JOEPX Q PCKFDU UIFOUIFNFUIPENVTUSBJTFBO */7"-*%@"$$&44@&33 Q FYDFQUJPO

       FIMCHANB?CHJONMNL?;G

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G

    
    =H<NF>GM >GJN@ K 
    $MPTFTUIFJOQVUTUSFBNUIBUXBTPQFOFECZUIF EPDVNFOUPQFO
    Q NFUIPE
    5ISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIF %PDVNFOU Q JTBO 9.-EPDVNFOU Q 

    5IF >GJN@ NFUIPENVTUSVOUIFGPMMPXJOHTUFQT

     *GUIF %PDVNFOU Q PCKFDUJTOPUЙBHHFEBTBO )5.-EPDVNFOU Q UISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPO
    BOEBCPSUUIFTFTUFQT

     *GUIFSFJTOP TDSJQUDSFBUFEQBSTFS Q BTTPDJBUFEXJUIUIFEPDVNFOU UIFOBCPSUUIFTFTUFQT

     *OTFSUBO FYQMJDJU&0'DIBSBDUFS Q BUUIFFOEPGUIFQBSTFST JOQVUTUSFBN Q 

     *GUIFSFJTB QFOEJOHQBSTJOHCMPDLJOHTDSJQU Q UIFOBCPSUUIFTFTUFQT

     3VOUIFUPLFOJ[FS QSPDFTTJOHSFTVMUJOHUPLFOTBTUIFZBSFFNJUUFE BOETUPQQJOHXIFOUIFUPLFOJ[FSSFBDIFT


    UIF FYQMJDJU&0'DIBSBDUFS Q PS TQJOTUIFFWFOUMPPQ Q 

       ?J>PH@IO RMDO@ K

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM RMDO@ M>QM 
    "EETUIFHJWFOTUSJOH T
    UPUIF %PDVNFOU Q TJOQVUTUSFBN*GOFDFTTBSZ DBMMTUIF PQFO
    Q NFUIPE
    JNQMJDJUMZИSTU
    5IJTNFUIPEUISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOXIFOJOWPLFEPO 9.-EPDVNFOUT Q 
    6OMFTTDBMMFEGSPNUIFCPEZPGB TDSJQU Q FMFNFOUXIJMFUIFEPDVNFOUJTCFJOHQBSTFE PSDBMMFEPOB
    TDSJQUDSFBUFEEPDVNFOU DBMMJOHUIJTNFUIPEXJMMDMFBSUIFDVSSFOUQBHFИSTU BTJG EPDVNFOUPQFO
    Q
    IBECFFODBMMFE

    5IF ?J>PH@IO RMDO@  NFUIPENVTUBDUBTGPMMPXT

     *GUIFNFUIPEXBTJOWPLFEPOBO 9.-EPDVNFOU Q UISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPOBOEBCPSU


    UIFTFTUFQT

     *GUIF JOTFSUJPOQPJOU Q JTVOEFИOFE UIF PQFO


    Q NFUIPENVTUCFDBMMFE XJUIOPBSHVNFOUT
    POUIF
    EPDVNFOU Q PCKFDU*GUIFVTFS SFGVTFEUPBMMPXUIFEPDVNFOUUPCFVOMPBEFE Q UIFOUIFTFTUFQTNVTUCF
    BCPSUFE0UIFSXJTF UIF JOTFSUJPOQPJOU Q XJMMQPJOUBUKVTUCFGPSFUIFFOEPGUIF FNQUZ
    JOQVUTUSFBN Q 

     5IFTUSJOHDPOTJTUJOHPGUIFDPODBUFOBUJPOPGBMMUIFBSHVNFOUTUPUIFNFUIPENVTUCFJOTFSUFEJOUPUIF
    JOQVUTUSFBN Q KVTUCFGPSFUIF JOTFSUJPOQPJOU Q 

     *GUIFSFJTB QFOEJOHQBSTJOHCMPDLJOHTDSJQU Q UIFOUIFNFUIPENVTUOPXSFUVSOXJUIPVUGVSUIFSQSPDFTTJOH


    PGUIF JOQVUTUSFBN Q 

     0UIFSXJTF UIFUPLFOJ[FSNVTUQSPDFTTUIFDIBSBDUFSTUIBUXFSFJOTFSUFE POFBUBUJNF QSPDFTTJOHSFTVMUJOH


    UPLFOTBTUIFZBSFFNJUUFE BOETUPQQJOHXIFOUIFUPLFOJ[FSSFBDIFTUIFJOTFSUJPOQPJOUPSXIFOUIF
    QSPDFTTJOHPGUIFUPLFOJ[FSJTBCPSUFECZUIFUSFFDPOTUSVDUJPOTUBHF UIJTDBOIBQQFOJGB TDSJQU Q FOEUBH
    UPLFOJTFNJUUFECZUIFUPLFOJ[FS
    

    *HM> %?MA> =H<NF>GM PKBM> I F>MAH=P:L<:EE>=?KHFL<KBIM>Q><NMBG@BGEBG>B >


    >Q><NMBG@;><:NL>MA>I:KL>KI:KL>=:L>MH? L<KBIM I M:@L MA>GMABLBL: K>>GMK:GM
    BGOH<:MBHGH?MA>I:KL>K I

     'JOBMMZ UIFNFUIPENVTUSFUVSO

    
       ?J>PH@IO RMDO@GI K

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM RMDO@GI M>QM 
    "EETUIFHJWFOTUSJOH T
    UPUIF %PDVNFOU Q TJOQVUTUSFBN GPMMPXFECZBOFXMJOFDIBSBDUFS*GOFDFTTBSZ
    DBMMTUIF PQFO
    Q NFUIPEJNQMJDJUMZИSTU
    5IJTNFUIPEUISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOXIFOJOWPLFEPO 9.-EPDVNFOUT Q 

    5IF ?J>PH@IO RMDO@GI  NFUIPE XIFOJOWPLFE NVTUBDUBTJGUIF EPDVNFOUXSJUF


    Q NFUIPEIBECFFO
    JOWPLFEXJUIUIFTBNFBSHVNFOU T
    QMVTBOFYUSBBSHVNFOUDPOTJTUJOHPGBTUSJOHDPOUBJOJOHBTJOHMFMJOFGFFE
    DIBSBDUFS 6 "
    

       DII@M&2+* K

    5IF DII@M&2+* *%-BUUSJCVUFSFQSFTFOUTUIFNBSLVQPGUIFOPEFTDPOUFOUT

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM DII@M&2+* 7 O:EN> 8
    3FUVSOTBGSBHNFOUPG)5.-PS9.-UIBUSFQSFTFOUTUIF %PDVNFOU Q 
    $BOCFTFU UPSFQMBDFUIF %PDVNFOU Q TDPOUFOUTXJUIUIFSFTVMUPGQBSTJOHUIFHJWFOTUSJOH
    *OUIFDBTFPG 9.-EPDVNFOUT Q XJMMUISPXBO */7"-*%@45"5&@&33 Q JGUIF %PDVNFOU Q DBOOPUCF
    TFSJBMJ[FEUP9.- BOEB 4:/5"9@&33 Q JGUIFHJWFOTUSJOHJTOPUXFMMGPSNFE

    >E>F>GM DII@M&2+* K 7 O:EN> 8


    3FUVSOTBGSBHNFOUPG)5.-PS9.-UIBUSFQSFTFOUTUIFFMFNFOUTDPOUFOUT
    $BOCFTFU UPSFQMBDFUIFDPOUFOUTPGUIFFMFNFOUXJUIOPEFTQBSTFEGSPNUIFHJWFOTUSJOH
    *OUIFDBTFPG 9.-EPDVNFOUT Q XJMMUISPXBO */7"-*%@45"5&@&33 Q JGUIFFMFNFOUDBOOPUCFTFSJBMJ[FE
    UP9.- BOEB 4:/5"9@&33 Q JGUIFHJWFOTUSJOHJTOPUXFMMGPSNFE

    0OHFUUJOH JGUIFOPEFTEPDVNFOUJTBO )5.-EPDVNFOU Q UIFOUIFBUUSJCVUFNVTUSFUVSOUIFSFTVMUPGSVOOJOHUIF


    )5.-GSBHNFOUTFSJBMJ[BUJPOBMHPSJUIN Q POUIFOPEFPUIFSXJTF UIFOPEFTEPDVNFOUJTBO 9.-EPDVNFOU Q BOE
    UIFBUUSJCVUFNVTUSFUVSOUIFSFTVMUPGSVOOJOHUIF 9.-GSBHNFOUTFSJBMJ[BUJPOBMHPSJUIN Q POUIFOPEFJOTUFBE UIJT
    NJHIUSBJTFBOFYDFQUJPOJOTUFBEPGSFUVSOJOHBTUSJOH
    

    0OTFUUJOH UIFGPMMPXJOHTUFQTNVTUCFSVO

     *GUIFOPEFTEPDVNFOUJTBO )5.-EPDVNFOU Q *OWPLFUIF )5.-GSBHNFOUQBSTJOHBMHPSJUIN Q 

    *GUIFOPEFTEPDVNFOUJTBO 9.-EPDVNFOU Q *OWPLFUIF 9.-GSBHNFOUQBSTJOHBMHPSJUIN Q 

    *OFJUIFSDBTF UIFBMHPSJUINNVTUCFJOWPLFEXJUIUIFTUSJOHCFJOHBTTJHOFEJOUPUIF JOOFS)5.- Q BUUSJCVUF


    BTUIF 8=?DC*GUIFOPEFJTBO &MFNFOU Q OPEF UIFO JOBEEJUJPO UIBUFMFNFOUNVTUCFQBTTFEBTUIF
    2>=C4GC FMFNFOU

    *GUIJTSBJTFTBOFYDFQUJPO UIFOBCPSUUIFTFTUFQT

    0UIFSXJTF MFU =4F278;3A4= CFUIFOPEFTSFUVSOFE

     *GUIFBUUSJCVUFJTCFJOHTFUPOB %PDVNFOU Q OPEF BOEUIBUEPDVNFOUIBTBO BDUJWFQBSTFS Q UIFOBCPSU


    UIBUQBSTFS

     3FNPWFUIFDIJMEOPEFTPGUIFOPEFXIPTF JOOFS)5.- Q BUUSJCVUFJTCFJOHTFU ИSJOHBQQSPQSJBUFNVUBUJPO


    FWFOUT

     *GUIFBUUSJCVUFJTCFJOHTFUPOB %PDVNFOU Q OPEF MFU C0A64C3>2D<4=C CFUIBU %PDVNFOU Q OPEF0UIFSXJTF
    UIFBUUSJCVUFJTCFJOHTFUPOBO &MFNFOU Q OPEFMFU C0A64C3>2D<4=C CFUIF PXOFS%PDVNFOU PGUIBU
    &MFNFOU Q 

     4FUUIF PXOFS%PDVNFOU PGBMMUIFOPEFTJO =4F278;3A4= UPUIF C0A64C3>2D<4=C

    
     "QQFOEBMMUIF =4F278;3A4= OPEFTUPUIFOPEFXIPTF JOOFS)5.- Q BUUSJCVUFJTCFJOHTFU QSFTFSWJOHUIFJS
    PSEFS BOEИSJOHNVUBUJPOFWFOUTBTJGB %PDVNFOU'SBHNFOU Q DPOUBJOJOHUIF =4F278;3A4= IBECFFO
    JOTFSUFE

       JPO@M&2+* K

    5IF JPO@M&2+* *%-BUUSJCVUFSFQSFTFOUTUIFNBSLVQPGUIFFMFNFOUBOEJUTDPOUFOUT

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >E>F>GM JPO@M&2+* 7 O:EN> 8
    3FUVSOTBGSBHNFOUPG)5.-PS9.-UIBUSFQSFTFOUTUIFFMFNFOUBOEJUTDPOUFOUT
    $BOCFTFU UPSFQMBDFUIFFMFNFOUXJUIOPEFTQBSTFEGSPNUIFHJWFOTUSJOH
    *OUIFDBTFPG 9.-EPDVNFOUT Q XJMMUISPXBO */7"-*%@45"5&@&33 Q JGUIFFMFNFOUDBOOPUCFTFSJBMJ[FE
    UP9.- BOEB 4:/5"9@&33 Q JGUIFHJWFOTUSJOHJTOPUXFMMGPSNFE
    5ISPXTB /0@.0%*'*$"5*0/@"--08&%@&33 Q FYDFQUJPOJGUIFQBSFOUPGUIFFMFNFOUJTUIF %PDVNFOU Q
    OPEF

    0OHFUUJOH JGUIFOPEFTEPDVNFOUJTBO )5.-EPDVNFOU Q UIFOUIFBUUSJCVUFNVTUSFUVSOUIFSFTVMUPGSVOOJOHUIF


    )5.-GSBHNFOUTFSJBMJ[BUJPOBMHPSJUIN Q POBИDUJPOBMOPEFXIPTFPOMZDIJMEJTUIFOPEFPOXIJDIUIFBUUSJCVUFXBT
    JOWPLFEPUIFSXJTF UIFOPEFTEPDVNFOUJTBO 9.-EPDVNFOU Q BOEUIFBUUSJCVUFNVTUSFUVSOUIFSFTVMUPGSVOOJOH
    UIF 9.-GSBHNFOUTFSJBMJ[BUJPOBMHPSJUIN Q POUIBUИDUJPOBMOPEFJOTUFBE UIJTNJHIUSBJTFBOFYDFQUJPOJOTUFBEPG
    SFUVSOJOHBTUSJOH
    

    0OTFUUJOH UIFGPMMPXJOHTUFQTNVTUCFSVO

     -FU C0A64C CFUIFFMFNFOUXIPTF PVUFS)5.- Q BUUSJCVUFJTCFJOHTFU

     *G C0A64C IBTOPQBSFOUOPEF UIFOBCPSUUIFTFTUFQT5IFSFXPVMECFOPXBZUPPCUBJOBSFGFSFODFUPUIF


    OPEFTDSFBUFEFWFOJGUIFSFNBJOJOHTUFQTXFSFSVO

     *G C0A64CTQBSFOUOPEFJTB %PDVNFOU Q PCKFDU UISPXB /0@.0%*'*$"5*0/@"--08&%@&33 Q FYDFQUJPOBOE


    BCPSUUIFTFTUFQT

     -FU ?0A4=C CF C0A64CTQBSFOUOPEF VOMFTTUIBUJTB %PDVNFOU'SBHNFOU Q OPEF JOXIJDIDBTFMFU ?0A4=C CF


    BOBSCJUSBSZ CPEZ Q FMFNFOU

     *G C0A64CTEPDVNFOUJTBO )5.-EPDVNFOU Q *OWPLFUIF )5.-GSBHNFOUQBSTJOHBMHPSJUIN Q 

    *G C0A64CTEPDVNFOUJTBO 9.-EPDVNFOU Q *OWPLFUIF 9.-GSBHNFOUQBSTJOHBMHPSJUIN Q 

    *OFJUIFSDBTF UIFBMHPSJUINNVTUCFJOWPLFEXJUIUIFTUSJOHCFJOHBTTJHOFEJOUPUIF PVUFS)5.- Q BUUSJCVUF


    BTUIF 8=?DC BOE ?0A4=C BTUIF 2>=C4GC FMFNFOU

    *GUIJTSBJTFTBOFYDFQUJPO UIFOBCPSUUIFTFTUFQT

    0UIFSXJTF MFU =4F278;3A4= CFUIFOPEFTSFUVSOFE

     4FUUIF PXOFS%PDVNFOU PGBMMUIFOPEFTJO =4F278;3A4= UP C0A64CTEPDVNFOU

     3FNPWF C0A64C GSPNJUTQBSFOUOPEF ИSJOHNVUBUJPOFWFOUTBTBQQSPQSJBUF BOEUIFOJOTFSUJOJUTQMBDFBMMUIF


    =4F278;3A4= OPEFT QSFTFSWJOHUIFJSPSEFS BOEBHBJOИSJOHNVUBUJPOFWFOUTBTJGB %PDVNFOU'SBHNFOU Q
    DPOUBJOJOHUIF =4F278;3A4= IBECFFOJOTFSUFE

       DIN@MO?E<>@IO&2+* K

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    >E>F>GM DIN@MO?E<>@IO&2+* K IHLBMBHG
    M>QM
    1BSTFTUIFHJWFOTUSJOH C4GC BT)5.-PS9.-BOEJOTFSUTUIFSFTVMUJOHOPEFTJOUPUIFUSFFJOUIFQPTJUJPO
    HJWFOCZUIF ?>B8C8>= BSHVNFOU BTGPMMPXT

    
    <?@IL?<?ACH
    #FGPSFUIFFMFNFOUJUTFMG

    ;@N?L<?ACH
    +VTUJOTJEFUIFFMFNFOU CFGPSFJUTИSTUDIJME

    <?@IL??H>
    +VTUJOTJEFUIFFMFNFOU BGUFSJUTMBTUDIJME

    ;@N?L?H>
    "GUFSUIFFMFNFOUJUTFMG

    5ISPXTB 4:/5"9@&33 Q FYDFQUJPOJGUIFBSHVNFOUTIBWFJOWBMJEWBMVFT FH JOUIFDBTFPG 9.-


    EPDVNFOUT Q JGUIFHJWFOTUSJOHJTOPUXFMMGPSNFE
    
    5ISPXTB /0@.0%*'*$"5*0/@"--08&%@&33 Q FYDFQUJPOJGUIFHJWFOQPTJUJPOJTOUQPTTJCMF FHJOTFSUJOH
    FMFNFOUTBGUFSUIFSPPUFMFNFOUPGB %PDVNFOU Q
    

    5IF DIN@MO?E<>@IO&2+*IHLBMBHG M>QM NFUIPE XIFOJOWPLFE NVTUSVOUIFGPMMPXJOHBMHPSJUIN

     -FU ?>B8C8>= BOE C4GC CFUIFNFUIPETИSTUBOETFDPOEBSHVNFOUT SFTQFDUJWFMZ

     -FU C0A64C CFUIFFMFNFOUPOXIJDIUIFNFUIPEXBTJOWPLFE

     6TFUIFИSTUNBUDIJOHJUFNGSPNUIJTMJTU

    %@ IHLBMBHG CM;H /%%=;M? CHM?HMCNCP? J G;N=B@ILNB?MNLCHA<?@IL?<?ACH


    %@ IHLBMBHG CM;H /%%=;M? CHM?HMCNCP? J G;N=B@ILNB?MNLCHA;@N?L?H>
    *G C0A64C IBTOPQBSFOUOPEF UIFOBCPSUUIFTFTUFQT

    *G C0A64CTQBSFOUOPEFJTB %PDVNFOU Q PCKFDU UIFOUISPXB /0@.0%*'*$"5*0/@"--08&%@&33 Q


    FYDFQUJPOBOEBCPSUUIFTFTUFQT

    0UIFSXJTF MFU 2>=C4GC CFUIFQBSFOUOPEFPG C0A64C

    %@ IHLBMBHG CM;H /%%=;M? CHM?HMCNCP? J G;N=B@ILNB?MNLCHA;@N?L<?ACH


    %@ IHLBMBHG CM;H /%%=;M? CHM?HMCNCP? J G;N=B@ILNB?MNLCHA<?@IL??H>
    -FU 2>=C4GC CFUIFTBNFBT C0A64C

    +NB?LQCM?
    5ISPXB 4:/5"9@&33 Q FYDFQUJPO

     *G C0A64CTEPDVNFOUJTBO )5.-EPDVNFOU Q *OWPLFUIF )5.-GSBHNFOUQBSTJOHBMHPSJUIN Q 

    *G C0A64CTEPDVNFOUJTBO 9.-EPDVNFOU Q *OWPLFUIF 9.-GSBHNFOUQBSTJOHBMHPSJUIN Q 

    *OFJUIFSDBTF UIFBMHPSJUINNVTUCFJOWPLFEXJUI C4GC BTUIF 8=?DC BOEUIFFMFNFOUTFMFDUFEJOCZUIF


    QSFWJPVTTUFQBTUIF 2>=C4GC FMFNFOU

    *GUIJTSBJTFTBOFYDFQUJPO UIFOBCPSUUIFTFTUFQT

    0UIFSXJTF MFU =4F278;3A4= CFUIFOPEFTSFUVSOFE

     4FUUIF PXOFS%PDVNFOU PGBMMUIFOPEFTJO =4F278;3A4= UP C0A64CTEPDVNFOU

     6TFUIFИSTUNBUDIJOHJUFNGSPNUIJTMJTU

    %@ IHLBMBHG CM;H /%%=;M? CHM?HMCNCP? J G;N=B@ILNB?MNLCHA<?@IL?<?ACH


    *OTFSUBMMUIF =4F278;3A4= OPEFTJNNFEJBUFMZCFGPSF C0A64C

    %@ IHLBMBHG CM;H /%%=;M? CHM?HMCNCP? J G;N=B@ILNB?MNLCHA;@N?L<?ACH


    *OTFSUBMMUIF =4F278;3A4= OPEFTCFGPSFUIFИSTUDIJMEPG C0A64C JGUIFSFJTPOF*GUIFSFJTOPTVDIDIJME
    BQQFOEUIFNBMMUP C0A64C

    %@ IHLBMBHG CM;H /%%=;M? CHM?HMCNCP? J G;N=B@ILNB?MNLCHA<?@IL??H>


    "QQFOEBMMUIF =4F278;3A4= OPEFTUP C0A64C

    
    %@ IHLBMBHG CM;H /%%=;M? CHM?HMCNCP? J G;N=B@ILNB?MNLCHA;@N?L?H>
    *OTFSUBMMUIF =4F278;3A4= OPEFTJNNFEJBUFMZBGUFS C0A64C

    5IF =4F278;3A4= OPEFTNVTUCFJOTFSUFEJOBNBOOFSUIBUQSFTFSWFTUIFJSPSEFSBOEИSFTNVUBUJPOFWFOUT


    BTJGB %PDVNFOU'SBHNFOU Q DPOUBJOJOHUIF =4F278;3A4= IBECFFOJOTFSUFE

    
     0B??F?G?HNMI@$0)(

      0B?LIIN?F?G?HN

       0B? COHG ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TUIFSPPUFMFNFOUPGBEPDVNFOU
    8IFSFWFSBTVCEPDVNFOUGSBHNFOUJTBMMPXFEJOBDPNQPVOEEPDVNFOU

    IHN?HNGI>?F
    " IFBE Q FMFNFOUGPMMPXFECZB CPEZ Q FMFNFOU

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    NBOJGFTU Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*&OHG#G@H@IO  )5.-&MFNFOU \^

    5IF IUNM Q FMFNFOU SFQSFTFOUT Q UIFSPPUPGBO)5.-EPDVNFOU

    5IF H<IDA@NO BUUSJCVUFHJWFTUIFBEESFTTPGUIFEPDVNFOUT BQQMJDBUJPODBDIF Q NBOJGFTU Q JGUIFSFJTPOF*GUIF


    BUUSJCVUFJTQSFTFOU UIFBUUSJCVUFTWBMVFNVTUCFB WBMJEOPOFNQUZ63- Q 

    5IF NBOJGFTU Q BUUSJCVUFPOMZ IBTBOFЗFDU Q EVSJOHUIFFBSMZTUBHFTPGEPDVNFOUMPBE$IBOHJOHUIFBUUSJCVUF


    EZOBNJDBMMZUIVTIBTOPFЗFDU BOEUIVT OP%0."1*JTQSPWJEFEGPSUIJTBUUSJCVUF
    

    *HM> "HKMA>INKIHL>LH? :IIEB<:MBHG<:<A>L>E><MBHG I  E:M>K ;:L> I >E>F>GML<:GGHM:Z><MMA>


    K>LHEOBG@H?K>E:MBO>1.(L I BG F:GB?>LM I :MMKB;NM>L :LMA>:MMKB;NM>L:K>IKH<>LL>=;>?HK>
    MAHL>>E>F>GML:K>L>>G

    *HM> 0A> PBG=HP :IIEB<:MBHG":<A> I % (:MMKB;NM>IKHOB=>LL<KBIM>=:<<>LLMHMA>H^BG>


    :IIEB<:MBHG<:<A> I F><A:GBLF

    5IF IUNM Q FMFNFOUJOUIFGPMMPXJOHFYBNQMFEFDMBSFTUIBUUIFEPDVNFOUTMBOHVBHFJT&OHMJTI

    %0$5:1&IUNM
    COHGG<IB@I
    IFBE
    UJUMF4XBQQJOH4POHTUJUMF
    IFBE
    CPEZ
    I4XBQQJOH4POHTI
    Q5POJHIU*TXBQQFETPNFPGUIFTPOHT*XSPUFXJUITPNFGSJFOET XIP
    HBWFNFTPNFPGUIFTPOHTUIFZXSPUF*MPWFTIBSJOHNZNVTJDQ
    CPEZ
    COHG

      I=OG?HNG?N;>;N;

       0B? C@<? ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TUIFИSTUFMFNFOUJOBO IUNM Q FMFNFOU

    
    IHN?HNGI>?F
    *GUIFEPDVNFOUJT BO JGSBNF TSDEPD EPDVNFOU Q PSJGUJUMFJOGPSNBUJPOJTBWBJMBCMFGSPNBIJHIFSMFWFM
    QSPUPDPM;FSPPSNPSFFMFNFOUTPG NFUBEBUBDPOUFOU Q 
    0UIFSXJTF0OFPSNPSFFMFNFOUTPG NFUBEBUBDPOUFOU Q PGXIJDIFYBDUMZPOFJTB UJUMF Q FMFNFOU

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*&@<?#G@H@IO  )5.-&MFNFOU \^

    5IF IFBE Q FMFNFOU SFQSFTFOUT Q BDPMMFDUJPOPGNFUBEBUBGPSUIF %PDVNFOU Q 

    5IFDPMMFDUJPOPGNFUBEBUBJOB IFBE Q FMFNFOUDBOCFMBSHFPSTNBMM)FSFJTBOFYBNQMFPGBWFSZTIPSUPOF

    EPDUZQFIUNM
    IUNM
    IFBE
    UJUMF"EPDVNFOUXJUIBTIPSUIFBEUJUMF
    IFBE
    CPEZ
    

    )FSFJTBOFYBNQMFPGBMPOHFSPOF

    %0$5:1&)5.-
    )5.-
    )&"%
    .&5"$)"34&565'
    #"4&)3&'IUUQXXXFYBNQMFDPN
    5*5-&"OBQQMJDBUJPOXJUIBMPOHIFBE5*5-&
    -*/,3&-45:-&4)&&5)3&'EFGBVMUDTT
    -*/,3&-45:-&4)&&5"-5&3/"5&)3&'CJHDTT5*5-&#JH5FYU
    4$3*1543$TVQQPSUKT4$3*15
    .&5"/".&"11-*$"5*0//".&$0/5&/5-POHIFBEFEBQQMJDBUJPO
    )&"%
    #0%:
    

    *HM> 0A> MBME> I >E>F>GMBL:K>JNBK>=<ABE=BGFHLMLBMN:MBHGL ;NMPA>G:AB@A>K


    E>O>EIKHMH<HE
    IKHOB=>LMBME>BG?HKF:MBHG > @ BGMA>/N;C><MEBG>H?:G>
    F:BEPA>G$0)(BLNL>=:L:G>
    F:BE
    :NMAHKBG@?HKF:M MA> MBME> I >E>F>GM<:G;>HFBMM>=

       0B? ODOG@ ?F?G?HN

    ;N?AILC?M
    .FUBEBUBDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    *OB IFBE Q FMFNFOUDPOUBJOJOHOPPUIFS UJUMF Q FMFNFOUT

    IHN?HNGI>?F
    5FYU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*2DOG@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH UFYU
    ^

    
    5IF UJUMF Q FMFNFOU SFQSFTFOUT Q UIFEPDVNFOUTUJUMFPSOBNF"VUIPSTTIPVMEVTFUJUMFTUIBUJEFOUJGZUIFJS
    EPDVNFOUTFWFOXIFOUIFZBSFVTFEPVUPGDPOUFYU GPSFYBNQMFJOBVTFSTIJTUPSZPSCPPLNBSLT PSJOTFBSDISFTVMUT
    5IFEPDVNFOUTUJUMFJTPGUFOEJЗFSFOUGSPNJUTИSTUIFBEJOH TJODFUIFИSTUIFBEJOHEPFTOPUIBWFUPTUBOEBMPOFXIFO
    UBLFOPVUPGDPOUFYU

    5IFSFNVTUCFOPNPSFUIBOPOF UJUMF Q FMFNFOUQFSEPDVNFOU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    MBME> O@SO K 7 O:EN> 8
    3FUVSOTUIFDPOUFOUTPGUIFFMFNFOU JHOPSJOHDIJMEOPEFTUIBUBSFOU UFYUOPEFT Q 
    $BOCFTFU UPSFQMBDFUIFFMFNFOUTDIJMESFOXJUIUIFHJWFOWBMVF

    5IF*%-BUUSJCVUF O@SO NVTUSFUVSOBDPODBUFOBUJPOPGUIFDPOUFOUTPGBMMUIF UFYUOPEFT Q UIBUBSFEJSFDUDIJMESFOPG


    UIF UJUMF Q FMFNFOU JHOPSJOHBOZPUIFSOPEFTTVDIBTDPNNFOUTPSFMFNFOUT
    JOUSFFPSEFS0OTFUUJOH JUNVTUBDU
    UIFTBNFXBZBTUIF UFYU$POUFOU Q *%-BUUSJCVUF

    )FSFBSFTPNFFYBNQMFTPGBQQSPQSJBUFUJUMFT DPOUSBTUFEXJUIUIFUPQMFWFMIFBEJOHTUIBUNJHIUCFVTFEPO
    UIPTFTBNFQBHFT

    UJUMF*OUSPEVDUJPOUP5IF.BUJOH3JUVBMTPG#FFTUJUMF
    
    I*OUSPEVDUJPOI
    Q5IJTDPNQBOJPOHVJEFUPUIFIJHIMZTVDDFTTGVM
    DJUF*OUSPEVDUJPOUP.FEJFWBM#FF,FFQJOHDJUFCPPLJT

    5IFOFYUQBHFNJHIUCFBQBSUPGUIFTBNFTJUF/PUFIPXUIFUJUMFEFTDSJCFTUIFTVCKFDUNBUUFSVOBNCJHVPVTMZ
    XIJMFUIFИSTUIFBEJOHBTTVNFTUIFSFBEFSLOPXTXIBUUIFDPOUFYUJTBOEUIFSFGPSFXPOUXPOEFSJGUIFEBODFT
    BSF4BMTBPS8BMU[

    UJUMF%BODFTVTFEEVSJOHCFFNBUJOHSJUVBMTUJUMF
    
    I5IF%BODFTI

    5IFTUSJOHUPVTFBTUIFEPDVNFOUTUJUMFJTHJWFOCZUIF EPDVNFOUUJUMF Q *%-BUUSJCVUF 6TFSBHFOUTTIPVMEVTFUIF


    EPDVNFOUTUJUMFXIFOSFGFSSJOHUPUIFEPDVNFOUJOUIFJSVTFSJOUFSGBDF

       0B? =<N@ ?F?G?HN

    ;N?AILC?M
    .FUBEBUBDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    *OB IFBE Q FMFNFOUDPOUBJOJOHOPPUIFS CBTF Q FMFNFOUT

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    ISFG Q
    UBSHFU Q

    +)CHN?L@;=?

    JOUFSGBDF &2+* <N@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH ISFG
    BUUSJCVUF%0.4USJOH UBSHFU
    ^

    5IF CBTF Q FMFNFOUBMMPXTBVUIPSTUPTQFDJGZUIF EPDVNFOUCBTF63- Q GPSUIFQVSQPTFTPG SFTPMWJOHSFMBUJWF


    63-T Q BOEUIFOBNFPGUIFEFGBVMU CSPXTJOHDPOUFYU Q GPSUIFQVSQPTFTPG GPMMPXJOHIZQFSMJOLT Q 5IFFMFNFOU
    EPFTOPU SFQSFTFOU Q BOZDPOUFOUCFZPOEUIJTJOGPSNBUJPO

    5IFSFNVTUCFOPNPSFUIBOPOF CBTF Q FMFNFOUQFSEPDVNFOU

    
    " CBTF Q FMFNFOUNVTUIBWFFJUIFSBO ISFG Q BUUSJCVUF B UBSHFU Q BUUSJCVUF PSCPUI

    5IF CM@A DPOUFOUBUUSJCVUF JGTQFDJИFE NVTUDPOUBJOB WBMJE63- Q 

    " CBTF Q FMFNFOU JGJUIBTBO ISFG Q BUUSJCVUF NVTUDPNFCFGPSFBOZPUIFSFMFNFOUTJOUIFUSFFUIBUIBWF


    BUUSJCVUFTEFИOFEBTUBLJOH 63-T Q FYDFQUUIF IUNM Q FMFNFOU JUT NBOJGFTU Q BUUSJCVUFJTOUBЗFDUFECZ CBTF Q
    FMFNFOUT
    

    *HM> %?MA>K>:K>FNEMBIE> ;:L> I >E>F>GMLPBMA AK>? I :MMKB;NM>L :EE;NMMA>[KLM:K>B@GHK>=

    5IF O<MB@O BUUSJCVUF JGTQFDJИFE NVTUDPOUBJOB WBMJECSPXTJOHDPOUFYUOBNFPSLFZXPSE Q XIJDITQFDJИFTXIJDI


    CSPXTJOHDPOUFYU Q JTUPCFVTFEBTUIFEFGBVMUXIFO IZQFSMJOLT Q BOE GPSNT Q JOUIF %PDVNFOU Q DBVTF
    OBWJHBUJPO Q 

    " CBTF Q FMFNFOU JGJUIBTB UBSHFU Q BUUSJCVUF NVTUDPNFCFGPSFBOZFMFNFOUTJOUIFUSFFUIBUSFQSFTFOU


    IZQFSMJOLT Q 

    *HM> %?MA>K>:K>FNEMBIE> ;:L> I >E>F>GMLPBMA M:K@>M I :MMKB;NM>L :EE;NMMA>[KLM:K>B@GHK>=

    5IF CM@A BOE O<MB@O *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    *OUIJTFYBNQMF B CBTF Q FMFNFOUJTVTFEUPTFUUIF EPDVNFOUCBTF63- Q 

    %0$5:1&IUNM
    IUNM
    IFBE
    UJUMF5IJTJTBOFYBNQMFGPSUIFMUCBTFHUFMFNFOUUJUMF
    CBTFISFGIUUQXXXFYBNQMFDPNOFXTJOEFYIUNM
    IFBE
    CPEZ
    Q7JTJUUIFBISFGBSDIJWFTIUNMBSDIJWFTBQ
    CPEZ
    IUNM

    5IFMJOLJOUIFBCPWFFYBNQMFXPVMECFBMJOLUPIUUQXXXFYBNQMFDPNOFXTBSDIJWFTIUNM

       0B? GDIF ?F?G?HN

    ;N?AILC?M
    .FUBEBUBDPOUFOU Q 
    *GUIF JUFNQSPQ Q BUUSJCVUFJTQSFTFOU ЙPXDPOUFOU Q 
    *GUIF JUFNQSPQ Q BUUSJCVUFJTQSFTFOU QISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF NFUBEBUBDPOUFOU Q JTFYQFDUFE
    *OB OPTDSJQU Q FMFNFOUUIBUJTBDIJMEPGB IFBE Q FMFNFOU
    *GUIF JUFNQSPQ Q BUUSJCVUFJTQSFTFOUXIFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    ISFG Q
    SFM Q
    NFEJB Q
    ISFGMBOH Q
    UZQF Q
    TJ[FT Q
    "MTP UIF UJUMF Q BUUSJCVUFIBTTQFDJBMTFNBOUJDTPOUIJTFMFNFOU

    +)CHN?L@;=?

    JOUFSGBDF &2+**DIF#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO EJTBCMFE

    
    BUUSJCVUF%0.4USJOH ISFG
    BUUSJCVUF%0.4USJOH SFM
    SFBEPOMZBUUSJCVUF %0.5PLFO-JTU SFM-JTU
    BUUSJCVUF%0.4USJOH NFEJB
    BUUSJCVUF%0.4USJOH ISFGMBOH
    BUUSJCVUF%0.4USJOH UZQF
    <1VU'PSXBSETWBMVF>SFBEPOMZBUUSJCVUF %0.4FUUBCMF5PLFO-JTU TJ[FT
    ^
    )5.--JOL&MFNFOU JNQMFNFOUT -JOL4UZMF

    5IF MJOL Q FMFNFOUBMMPXTBVUIPSTUPMJOLUIFJSEPDVNFOUUPPUIFSSFTPVSDFT

    5IFEFTUJOBUJPOPGUIFMJOL T
    JTHJWFOCZUIF CM@A BUUSJCVUF XIJDINVTUCFQSFTFOUBOENVTUDPOUBJOB WBMJEOPO
    FNQUZ63- Q  *GUIF ISFG Q BUUSJCVUFJTBCTFOU UIFOUIFFMFNFOUEPFTOPUEFИOFBMJOL

    " MJOL Q FMFNFOUNVTUIBWFFJUIFSB SFM Q BUUSJCVUF PSBO JUFNQSPQ Q BUUSJCVUF PSCPUI

    5IFUZQFTPGMJOLJOEJDBUFE UIFSFMBUJPOTIJQT
    BSFHJWFOCZUIFWBMVFPGUIF M@G BUUSJCVUF XIJDI JGQSFTFOU NVTUIBWF
    BWBMVFUIBUJTB TFUPGTQBDFTFQBSBUFEUPLFOT Q 5IF BMMPXFEWBMVFTBOEUIFJSNFBOJOHT Q BSFEFИOFEJOBMBUFS
    TFDUJPO *GUIF SFM Q BUUSJCVUFJTBCTFOU PSJGOPOFPGUIFWBMVFTVTFEBSFBMMPXFEBDDPSEJOHUPUIFEFИOJUJPOTJOUIJT
    TQFDJИDBUJPO UIFOUIFFMFNFOUEPFTOPUEFИOFBMJOL

    5XPDBUFHPSJFTPGMJOLTDBOCFDSFBUFEVTJOHUIF MJOL Q FMFNFOU (CHEMNI?RN?LH;FL?MIOL=?M BSFMJOLTUP


    SFTPVSDFTUIBUBSFUPCFVTFEUPBVHNFOUUIFDVSSFOUEPDVNFOU BOE BSJ?LFCHEFCHEM BSF MJOLTUPPUIFS
    EPDVNFOUT Q 5IF MJOLUZQFTTFDUJPO Q EFИOFTXIFUIFSBQBSUJDVMBSMJOLUZQFJTBOFYUFSOBMSFTPVSDFPSBIZQFSMJOL
    0OFFMFNFOUDBODSFBUFNVMUJQMFMJOLT PGXIJDITPNFNJHIUCFFYUFSOBMSFTPVSDFMJOLTBOETPNFNJHIUCFIZQFSMJOLT
    
    FYBDUMZXIJDIBOEIPXNBOZMJOLTBSFDSFBUFEEFQFOETPOUIFLFZXPSETHJWFOJOUIF SFM Q BUUSJCVUF6TFSBHFOUT
    NVTUQSPDFTTUIFMJOLTPOBQFSMJOLCBTJT OPUBQFSFMFNFOUCBTJT

    *HM> !:<AEBGDBLA:G=E>=L>I:K:M>ER "HKBGLM:G<> B?MA>K>:K>MPH EBGD I >E>F>GMLPBMA


    K>ELMRE>LA>>M MA>R>:<A<HNGM:L:L>I:K:M>>QM>KG:EK>LHNK<> :G=>:<ABL:Z><M>=;RBML
    HPG:MMKB;NM>LBG=>I>G=>GMER

    5IFFYBDUCFIBWJPSGPSMJOLTUPFYUFSOBMSFTPVSDFTEFQFOETPOUIFFYBDUSFMBUJPOTIJQ BTEFИOFEGPSUIFSFMFWBOUMJOL
    UZQF4PNFPGUIFBUUSJCVUFTDPOUSPMXIFUIFSPSOPUUIFFYUFSOBMSFTPVSDFJTUPCFBQQMJFE BTEFИOFECFMPX
    

    'PSFYUFSOBMSFTPVSDFTUIBUBSFSFQSFTFOUFEJOUIF%0. GPSFYBNQMF TUZMFTIFFUT


    UIF%0.SFQSFTFOUBUJPONVTUCF
    NBEFBWBJMBCMFFWFOJGUIFSFTPVSDFJTOPUBQQMJFE5P I<N;CHNB?L?MIOL=? UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOH
    TUFQT

     *GUIF ISFG Q BUUSJCVUFTWBMVFJTUIFFNQUZTUSJOH UIFOBCPSUUIFTFTUFQT

     3FTPMWF Q UIF 63- Q HJWFOCZUIF ISFG Q BUUSJCVUF SFMBUJWFUPUIFFMFNFOU

     *GUIFQSFWJPVTTUFQGBJMT UIFOBCPSUUIFTFTUFQT

     'FUDI Q UIFSFTVMUJOH BCTPMVUF63- Q 

    6TFSBHFOUTNBZPQUUPPOMZUSZUPPCUBJOTVDISFTPVSDFTXIFOUIFZBSFOFFEFE JOTUFBEPGQSPBDUJWFMZ GFUDIJOH Q BMM


    UIFFYUFSOBMSFTPVSDFTUIBUBSFOPUBQQMJFE

    5IFTFNBOUJDTPGUIFQSPUPDPMVTFE FH)551
    NVTUCFGPMMPXFEXIFOGFUDIJOHFYUFSOBMSFTPVSDFT 'PSFYBNQMF
    SFEJSFDUTXJMMCFGPMMPXFEBOESFTQPOTFTXJMMDBVTFUIFFYUFSOBMSFTPVSDFUPOPUCFBQQMJFE

    0ODFUIFBUUFNQUTUPPCUBJOUIFSFTPVSDFBOEJUT DSJUJDBMTVCSFTPVSDFT Q BSFDPNQMFUF UIFVTFSBHFOUNVTU JGUIF


    MPBETXFSFTVDDFTTGVM RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BUUIF MJOL Q FMFNFOU PS JGUIF
    SFTPVSDFPSPOFPGJUT DSJUJDBMTVCSFTPVSDFT Q GBJMFEUPDPNQMFUFMZMPBEGPSBOZSFBTPO FH%/4FSSPS )551
    SFTQPOTF BDPOOFDUJPOCFJOHQSFNBUVSFMZDMPTFE VOTVQQPSUFE$POUFOU5ZQF
    RVFVFBUBTL Q UP ИSFBTJNQMF
    FWFOU Q OBNFE FSSPS BUUIF MJOL Q FMFNFOU/POOFUXPSLFSSPSTJOQSPDFTTJOHUIFSFTPVSDFPSJUTTVCSFTPVSDFT
    FH$44QBSTFFSSPST 1/(EFDPEJOHFSSPST
    BSFOPUGBJMVSFTGPSUIFQVSQPTFTPGUIJTQBSBHSBQI

    5IF UBTLTPVSDF Q GPSUIFTF UBTLT Q JTUIF %0.NBOJQVMBUJPOUBTLTPVSDF Q 

    
    5IFFMFNFOUNVTU EFMBZUIFMPBEFWFOU Q PGUIFFMFNFOUTEPDVNFOUVOUJMBMMUIFBUUFNQUTUPPCUBJOUIFSFTPVSDFBOE
    JUT DSJUJDBMTVCSFTPVSDFT Q BSFDPNQMFUF 3FTPVSDFTUIBUUIFVTFSBHFOUIBTOPUZFUBUUFNQUFEUPPCUBJO FHCFDBVTF
    JUJTXBJUJOHGPSUIFSFTPVSDFUPCFOFFEFE EPOPU EFMBZUIFMPBEFWFOU Q 

    *OUFSBDUJWFVTFSBHFOUTNBZQSPWJEFVTFSTXJUIBNFBOTUP GPMMPXUIFIZQFSMJOLT Q DSFBUFEVTJOHUIF MJOL Q


    FMFNFOU TPNFXIFSFXJUIJOUIFJSVTFSJOUFSGBDF5IFFYBDUJOUFSGBDFJTOPUEFИOFECZUIJTTQFDJИDBUJPO CVUJUDPVME
    JODMVEFUIFGPMMPXJOHJOGPSNBUJPO PCUBJOFEGSPNUIFFMFNFOUTBUUSJCVUFT BHBJOBTEFИOFECFMPX
    JOTPNFGPSNPS
    BOPUIFS QPTTJCMZTJNQMJИFE
    GPSFBDIIZQFSMJOLDSFBUFEXJUIFBDI MJOL Q FMFNFOUJOUIFEPDVNFOU

    Ǭ 5IFSFMBUJPOTIJQCFUXFFOUIJTEPDVNFOUBOEUIFSFTPVSDF HJWFOCZUIF SFM Q BUUSJCVUF

    Ǭ 5IFUJUMFPGUIFSFTPVSDF HJWFOCZUIF UJUMF Q BUUSJCVUF


    

    Ǭ 5IFBEESFTTPGUIFSFTPVSDF HJWFOCZUIF ISFG Q BUUSJCVUF


    

    Ǭ 5IFMBOHVBHFPGUIFSFTPVSDF HJWFOCZUIF ISFGMBOH Q BUUSJCVUF


    

    Ǭ 5IFPQUJNVNNFEJBGPSUIFSFTPVSDF HJWFOCZUIF NFEJB Q BUUSJCVUF


    

    6TFSBHFOUTDPVMEBMTPJODMVEFPUIFSJOGPSNBUJPO TVDIBTUIFUZQFPGUIFSFTPVSDF BTHJWFOCZUIF UZQF Q BUUSJCVUF


    

    *HM> $RI>KEBGDL<K>:M>=PBMAMA> EBGD I >E>F>GM:G=BML K>E I :MMKB;NM>:IIERMHMA>PAHE>


    I:@> 0ABL<HGMK:LMLPBMAMA> K>E I :MMKB;NM>H? : I :G= :K>: I >E>F>GML PAB<ABG=B<:M>LMA>
    MRI>H?:EBGDPAHL><HGM>QMBL@BO>G;RMA>EBGDLEH<:MBHGPBMABGMA>=H<NF>GM

    5IF H@?D< BUUSJCVUFTBZTXIJDINFEJBUIFSFTPVSDFBQQMJFTUP5IFWBMVFNVTUCFB WBMJENFEJBRVFSZ Q 

    *GUIFMJOLJTB IZQFSMJOL Q UIFOUIF NFEJB Q BUUSJCVUFJTQVSFMZBEWJTPSZ BOEEFTDSJCFTGPSXIJDINFEJBUIF


    EPDVNFOUJORVFTUJPOXBTEFTJHOFE

    )PXFWFS JGUIFMJOLJTBO FYUFSOBMSFTPVSDFMJOL Q UIFOUIF NFEJB Q BUUSJCVUFJTQSFTDSJQUJWF5IFVTFSBHFOUNVTU


    BQQMZUIFFYUFSOBMSFTPVSDFXIFOUIF NFEJB Q BUUSJCVUFTWBMVF NBUDIFTUIFFOWJSPONFOU Q BOEUIFPUIFSSFMFWBOU
    DPOEJUJPOTBQQMZ BOENVTUOPUBQQMZJUPUIFSXJTF

    *HM> 0A>>QM>KG:EK>LHNK<>FB@AMA:O>?NKMA>KK>LMKB<MBHGL=>[G>=PBMABGMA:MEBFBMBML
    :IIEB<:;BEBMR "HK>Q:FIE> ://LMRE>LA>>MFB@AMA:O>LHF> F>=B: ;EH<DL 0ABLLI><B[<:MBHG
    =H>LGHMHO>KKB=>LN<A?NKMA>KK>LMKB<MBHGLHKK>JNBK>F>GML

    5IFEFGBVMU JGUIF NFEJB Q BUUSJCVUFJTPNJUUFE JTBMM NFBOJOHUIBUCZEFGBVMUMJOLTBQQMZUPBMMNFEJB

    5IF CM@AG<IB BUUSJCVUFPOUIF MJOL Q FMFNFOUIBTUIFTBNFTFNBOUJDTBTUIF ISFGMBOH BUUSJCVUFPOIZQFSMJOL


    FMFNFOUT Q 

    5IF OTK@ BUUSJCVUFHJWFTUIF .*.&UZQF Q PGUIFMJOLFESFTPVSDF*UJTQVSFMZBEWJTPSZ5IFWBMVFNVTUCFB WBMJE.*.&


    UZQF Q 

    'PS FYUFSOBMSFTPVSDFMJOLT Q UIF UZQF Q BUUSJCVUFJTVTFEBTBIJOUUPVTFSBHFOUTTPUIBUUIFZDBOBWPJEGFUDIJOH


    SFTPVSDFTUIFZEPOPUTVQQPSU *GUIFBUUSJCVUFJTQSFTFOU UIFOUIFVTFSBHFOUNVTUBTTVNFUIBUUIFSFTPVSDFJTPGUIF
    HJWFOUZQF FWFOJGUIBUJTOPUB WBMJE.*.&UZQF Q FHUIFFNQUZTUSJOH
    *GUIFBUUSJCVUFJTPNJUUFE CVUUIFFYUFSOBM
    SFTPVSDFMJOLUZQFIBTBEFGBVMUUZQFEFИOFE UIFOUIFVTFSBHFOUNVTUBTTVNFUIBUUIFSFTPVSDFJTPGUIBUUZQF*GUIF
    6"EPFTOPUTVQQPSUUIFHJWFO .*.&UZQF Q GPSUIFHJWFOMJOLSFMBUJPOTIJQ UIFOUIF6"TIPVMEOPU PCUBJO Q UIF
    SFTPVSDFJGUIF6"EPFTTVQQPSUUIFHJWFO .*.&UZQF Q GPSUIFHJWFOMJOLSFMBUJPOTIJQ UIFOUIF6"TIPVME PCUBJO Q
    UIFSFTPVSDF*GUIFBUUSJCVUFJTPNJUUFE BOEUIFFYUFSOBMSFTPVSDFMJOLUZQFEPFTOPUIBWFBEFGBVMUUZQFEFИOFE CVU
    UIFVTFSBHFOUXPVME PCUBJO Q UIFSFTPVSDFJGUIFUZQFXBTLOPXOBOETVQQPSUFE UIFOUIFVTFSBHFOUTIPVME
    PCUBJO Q UIFSFTPVSDFVOEFSUIFBTTVNQUJPOUIBUJUXJMMCFTVQQPSUFE

    6TFSBHFOUTNVTUOPUDPOTJEFSUIF UZQF Q BUUSJCVUFBVUIPSJUBUJWFǡVQPOGFUDIJOHUIFSFTPVSDF VTFSBHFOUTNVTUOPU


    VTFUIF UZQF Q BUUSJCVUFUPEFUFSNJOFJUTBDUVBMUZQF0OMZUIFBDUVBMUZQF BTEFИOFEJOUIFOFYUQBSBHSBQI
    JTVTFE
    UPEFUFSNJOFXIFUIFSUP 0??;H UIFSFTPVSDF OPUUIFBGPSFNFOUJPOFEBTTVNFEUZQF

    *GUIFFYUFSOBMSFTPVSDFMJOLUZQFEFИOFTSVMFTGPSQSPDFTTJOHUIFSFTPVSDFT $POUFOU5ZQFNFUBEBUB Q UIFOUIPTF


    SVMFTBQQMZ0UIFSXJTF JGUIFSFTPVSDFJTFYQFDUFEUPCFBOJNBHF VTFSBHFOUTNBZBQQMZUIF JNBHFTOJКOHSVMFT Q
    XJUIUIF >R280;CH?4 CFJOHUIFUZQFEFUFSNJOFEGSPNUIFSFTPVSDFT $POUFOU5ZQFNFUBEBUB Q BOEVTFUIFSFTVMUJOH
    TOJЗFEUZQFPGUIFSFTPVSDFBTJGJUXBTUIFBDUVBMUZQF0UIFSXJTF JGOFJUIFSPGUIFTFDPOEJUJPOTBQQMZPSJGUIFVTFS
    BHFOUPQUTOPUUPBQQMZUIFJNBHFTOJКOHSVMFT UIFOUIFVTFSBHFOUNVTUVTFUIFSFTPVSDFT $POUFOU5ZQF

    
    NFUBEBUB Q UPEFUFSNJOFUIFUZQFPGUIFSFTPVSDF*GUIFSFJTOPUZQFNFUBEBUB CVUUIFFYUFSOBMSFTPVSDFMJOLUZQF
    IBTBEFGBVMUUZQFEFИOFE UIFOUIFVTFSBHFOUNVTUBTTVNFUIBUUIFSFTPVSDFJTPGUIBUUZQF

    *HM> 0A> LMRE>LA>>M I EBGDMRI>=>[G>LKNE>L?HKIKH<>LLBG@MA>K>LHNK<>L HGM>GM


    0RI>
    F>M:=:M: I

    0ODFUIFVTFSBHFOUIBTFTUBCMJTIFEUIFUZQFPGUIFSFTPVSDF UIFVTFSBHFOUNVTUBQQMZUIFSFTPVSDFJGJUJTPGB
    TVQQPSUFEUZQFBOEUIFPUIFSSFMFWBOUDPOEJUJPOTBQQMZ BOENVTUJHOPSFUIFSFTPVSDFPUIFSXJTF

    *GBEPDVNFOUDPOUBJOTTUZMFTIFFUMJOLTMBCFMFEBTGPMMPXT

    MJOLSFMTUZMFTIFFUISFG"UZQFUFYUQMBJO
    MJOLSFMTUZMFTIFFUISFG#UZQFUFYUDTT
    MJOLSFMTUZMFTIFFUISFG$

    UIFOBDPNQMJBOU6"UIBUTVQQPSUFEPOMZ$44TUZMFTIFFUTXPVMEGFUDIUIF#BOE$ИMFT BOETLJQUIF"ИMF
    TJODF UFYUQMBJO JTOPUUIF .*.&UZQF Q GPS$44TUZMFTIFFUT
    

    'PSИMFT#BOE$ JUXPVMEUIFODIFDLUIFBDUVBMUZQFTSFUVSOFECZUIFTFSWFS'PSUIPTFUIBUBSFTFOUBT UFYU


    DTT JUXPVMEBQQMZUIFTUZMFT CVUGPSUIPTFMBCFMFEBT UFYUQMBJO PSBOZPUIFSUZQF JUXPVMEOPU

    *GPOFPGUIFUXPИMFTXBTSFUVSOFEXJUIPVUB $POUFOU5ZQF Q NFUBEBUB PSXJUIBTZOUBDUJDBMMZJODPSSFDUUZQF


    MJLF $POUFOU5ZQF OVMM UIFOUIFEFGBVMUUZQFGPS TUZMFTIFFU Q MJOLTXPVMELJDLJO4JODFUIBUEFGBVMUUZQF
    JT UFYUDTT UIFTUZMFTIFFU F>D;3 OPOFUIFMFTTCFBQQMJFE

    5IF ODOG@ BUUSJCVUFHJWFTUIFUJUMFPGUIFMJOL8JUIPOFFYDFQUJPO JUJTQVSFMZBEWJTPSZ5IFWBMVFJTUFYU5IFFYDFQUJPO


    JTGPSTUZMFTIFFUMJOLT XIFSFUIF UJUMF Q BUUSJCVUFEFИOFT BMUFSOBUJWFTUZMFTIFFUTFUT

    *HM> 0A> MBME> I :MMKB;NM>HG EBGD I >E>F>GML=BZ>KL?KHFMA>@EH;:E MBME> I :MMKB;NM>H?FHLM
    HMA>K>E>F>GMLBGMA:M:EBGDPBMAHNM:MBME>=H>LGHMBGA>KBMMA>MBME>H?MA>I:K>GM>E>F>GMBM
    F>K>ERA:LGHMBME>

    5IF TJ[FT Q BUUSJCVUFJTVTFEXJUIUIF JDPO Q MJOLUZQF5IFBUUSJCVUFNVTUOPUCFTQFDJИFEPO MJOL Q FMFNFOUT
    UIBUEPOPUIBWFB SFM Q BUUSJCVUFUIBUTQFDJИFTUIF JDPO Q LFZXPSE

    4PNFWFSTJPOTPG)551EFИOFEB -JOL IFBEFS UPCFQSPDFTTFEMJLFBTFSJFTPG MJOL Q FMFNFOUT*GTVQQPSUFE GPSUIF


    QVSQPTFTPGPSEFSJOHMJOLTEFИOFECZ)551IFBEFSTNVTUCFBTTVNFEUPDPNFCFGPSFBOZMJOLTJOUIFEPDVNFOU JOUIF
    PSEFSUIBUUIFZXFSFHJWFOJOUIF)551FOUJUZIFBEFS 63*TJOUIFTFIFBEFSTBSFUPCFQSPDFTTFEBOESFTPMWFE
    BDDPSEJOHUPUIFSVMFTHJWFOJO)551UIFSVMFTPG C78B TQFDJИDBUJPOEPOUBQQMZ
    <)551> Q <8&#-*/,> Q

    5IF*%-BUUSJCVUFT CM@A M@G H@?D< CM@AG<IB BOE OTK@ BOE NDU@N FBDINVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOU
    BUUSJCVUFTPGUIFTBNFOBNF

    5IF*%-BUUSJCVUF M@G*DNO NVTU SFЙFDU Q UIF SFM Q DPOUFOUBUUSJCVUF

    5IF*%-BUUSJCVUF ?DN<=G@? POMZBQQMJFTUPTUZMFTIFFUMJOLT8IFOUIF MJOL Q FMFNFOUEFИOFTBTUZMFTIFFUMJOL UIFO


    UIF EJTBCMFE Q BUUSJCVUFCFIBWFTBTEFИOFE GPSUIFBMUFSOBUJWFTUZMFTIFFUT%0. Q 'PSBMMPUIFS MJOL Q FMFNFOUT
    JUBMXBZTSFUVSOGBMTFBOEEPFTOPUIJOHPOTFUUJOH

    5IF -JOL4UZMF JOUFSGBDFJTBMTPJNQMFNFOUFECZUIJTFMFNFOUUIF TUZMJOHQSPDFTTJOHNPEFM Q EFИOFTIPX


    <$440.> Q

    )FSF BTFUPG MJOL Q FMFNFOUTQSPWJEFTPNFTUZMFTIFFUT

    BQFSTJTUFOUTUZMFTIFFU
    MJOLSFMTUZMFTIFFUISFGEFGBVMUDTT

    UIFQSFGFSSFEBMUFSOBUFTUZMFTIFFU
    MJOLSFMTUZMFTIFFUISFGHSFFODTTUJUMF(SFFOTUZMFT

    TPNFBMUFSOBUFTUZMFTIFFUT
    MJOLSFMBMUFSOBUFTUZMFTIFFUISFGDPOUSBTUDTTUJUMF)JHIDPOUSBTU
    MJOLSFMBMUFSOBUFTUZMFTIFFUISFGCJHDTTUJUMF#JHGPOUT
    MJOLSFMBMUFSOBUFTUZMFTIFFUISFGXJEFDTTUJUMF8JEFTDSFFO

    5IFGPMMPXJOHFYBNQMFTIPXTIPXZPVDBOTQFDJGZWFSTJPOTPGUIFQBHFUIBUVTFBMUFSOBUJWFGPSNBUT BSFBJNFE
    BUPUIFSMBOHVBHFT BOEUIBUBSFJOUFOEFEGPSPUIFSNFEJB

    
    MJOLSFMBMUFSOBUFISFGFOIUNMISFGMBOHFOUZQFUFYUIUNMUJUMF&OHMJTI)5.-
    MJOLSFMBMUFSOBUFISFGGSIUNMISFGMBOHGSUZQFUFYUIUNMUJUMF'SFODI)5.-
    MJOLSFMBMUFSOBUFISFGFOIUNMQSJOUISFGMBOHFOUZQFUFYUIUNMNFEJBQSJOU
    UJUMF&OHMJTI)5.- GPSQSJOUJOH
    
    MJOLSFMBMUFSOBUFISFGGSIUNMQSJOUISFGMBOHGSUZQFUFYUIUNMNFEJBQSJOU
    UJUMF'SFODI)5.- GPSQSJOUJOH
    
    MJOLSFMBMUFSOBUFISFGFOQEGISFGMBOHFOUZQFBQQMJDBUJPOQEGUJUMF&OHMJTI1%'
    MJOLSFMBMUFSOBUFISFGGSQEGISFGMBOHGSUZQFBQQMJDBUJPOQEGUJUMF'SFODI1%'

       0B? H@O< ?F?G?HN

    ;N?AILC?M
    .FUBEBUBDPOUFOU Q 
    *GUIF JUFNQSPQ Q BUUSJCVUFJTQSFTFOU ЙPXDPOUFOU Q 
    *GUIF JUFNQSPQ Q BUUSJCVUFJTQSFTFOU QISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    *GUIF DIBSTFU Q BUUSJCVUFJTQSFTFOU PSJGUIFFMFNFOUT IUUQFRVJW Q BUUSJCVUFJTJOUIF &ODPEJOH
    EFDMBSBUJPOTUBUF Q JOB IFBE Q FMFNFOU
    *GUIF IUUQFRVJW Q BUUSJCVUFJTQSFTFOUCVUOPUJOUIF &ODPEJOHEFDMBSBUJPOTUBUF Q JOB IFBE Q FMFNFOU
    *GUIF IUUQFRVJW Q BUUSJCVUFJTQSFTFOUCVUOPUJOUIF &ODPEJOHEFDMBSBUJPOTUBUF Q JOB OPTDSJQU Q
    FMFNFOUUIBUJTBDIJMEPGB IFBE Q FMFNFOU
    *GUIF OBNF Q BUUSJCVUFJTQSFTFOUXIFSF NFUBEBUBDPOUFOU Q JTFYQFDUFE
    *GUIF JUFNQSPQ Q BUUSJCVUFJTQSFTFOUXIFSF NFUBEBUBDPOUFOU Q JTFYQFDUFE
    *GUIF JUFNQSPQ Q BUUSJCVUFJTQSFTFOUXIFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    OBNF Q
    IUUQFRVJW Q
    DPOUFOU Q
    DIBSTFU Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*+@O<#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUF%0.4USJOH IUUQ&RVJW
    BUUSJCVUF%0.4USJOH DPOUFOU
    ^

    5IF NFUB Q FMFNFOU SFQSFTFOUT Q WBSJPVTLJOETPGNFUBEBUBUIBUDBOOPUCFFYQSFTTFEVTJOHUIF UJUMF Q CBTF Q
    MJOL Q TUZMF Q BOE TDSJQU Q FMFNFOUT

    5IF NFUB Q FMFNFOUDBOSFQSFTFOUEPDVNFOUMFWFMNFUBEBUBXJUIUIF OBNF Q BUUSJCVUF QSBHNBEJSFDUJWFTXJUIUIF


    IUUQFRVJW Q BUUSJCVUF BOEUIFИMFT DIBSBDUFSFODPEJOHEFDMBSBUJPO Q XIFOBO)5.-EPDVNFOUJTTFSJBMJ[FEUP
    TUSJOHGPSN FHGPSUSBOTNJTTJPOPWFSUIFOFUXPSLPSGPSEJTLTUPSBHF
    XJUIUIF DIBSTFU Q BUUSJCVUF

    &YBDUMZPOFPGUIF OBNF Q IUUQFRVJW Q DIBSTFU Q BOE JUFNQSPQ Q BUUSJCVUFTNVTUCFTQFDJИFE

    *GFJUIFS OBNF Q IUUQFRVJW Q PS JUFNQSPQ Q JTTQFDJИFE UIFOUIF DPOUFOU Q BUUSJCVUFNVTUBMTPCFTQFDJИFE
    0UIFSXJTF JUNVTUCFPNJUUFE

    5IF >C<MN@O BUUSJCVUFTQFDJИFTUIFDIBSBDUFSFODPEJOHVTFECZUIFEPDVNFOU5IJTJTB DIBSBDUFSFODPEJOH


    EFDMBSBUJPO Q *GUIFBUUSJCVUFJTQSFTFOUJOBO 9.-EPDVNFOU Q JUTWBMVFNVTUCFBO "4$**DBTFJOTFOTJUJWF Q NBUDI
    GPSUIFTUSJOH65' BOEUIFEPDVNFOUJTUIFSFGPSFGPSDFEUPVTF65'BTJUTFODPEJOH
    

    *HM> 0A> <A:KL>M I :MMKB;NM>HGMA> F>M: I >E>F>GMA:LGH>Z><MBG4)(=H<NF>GML :G=BLHGER


    :EEHP>=BGHK=>KMH?:<BEBM:M>FB@K:MBHGMH:G=?KHF4$0)(

    5IFSFNVTUOPUCFNPSFUIBOPOF NFUB Q FMFNFOUXJUIB DIBSTFU Q BUUSJCVUFQFSEPDVNFOU

    
    5IF >JIO@IO BUUSJCVUFHJWFTUIFWBMVFPGUIFEPDVNFOUNFUBEBUBPSQSBHNBEJSFDUJWFXIFOUIFFMFNFOUJTVTFEGPS
    UIPTFQVSQPTFT5IFBMMPXFEWBMVFTEFQFOEPOUIFFYBDUDPOUFYU BTEFTDSJCFEJOTVCTFRVFOUTFDUJPOTPGUIJT
    TQFDJИDBUJPO

    *GB NFUB Q FMFNFOUIBTB I<H@ BUUSJCVUF JUTFUTEPDVNFOUNFUBEBUB%PDVNFOUNFUBEBUBJTFYQSFTTFEJOUFSNTPG


    OBNFWBMVFQBJST UIF OBNF Q BUUSJCVUFPOUIF NFUB Q FMFNFOUHJWJOHUIFOBNF BOEUIF DPOUFOU Q BUUSJCVUFPOUIF
    TBNFFMFNFOUHJWJOHUIFWBMVF5IFOBNFTQFDJИFTXIBUBTQFDUPGNFUBEBUBJTCFJOHTFUWBMJEOBNFTBOEUIF
    NFBOJOHPGUIFJSWBMVFTBSFEFTDSJCFEJOUIFGPMMPXJOHTFDUJPOT*GB NFUB Q FMFNFOUIBTOP DPOUFOU Q BUUSJCVUF UIFO
    UIFWBMVFQBSUPGUIFNFUBEBUBOBNFWBMVFQBJSJTUIFFNQUZTUSJOH

    5IF I<H@ BOE >JIO@IO *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF5IF*%-


    BUUSJCVUF COOK#LPDQ NVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUF IUUQFRVJW Q 

        /N;H>;L>G?N;>;N;H;G?M

    5IJTTQFDJИDBUJPOEFИOFTBGFXOBNFTGPSUIF OBNF Q BUUSJCVUFPGUIF NFUB Q FMFNFOU

    /BNFTBSFDBTFJOTFOTJUJWF BOENVTUCFDPNQBSFEJOBO "4$**DBTFJOTFOTJUJWF Q NBOOFS

    :IIEB<:MBHG G:F>
    5IFWBMVFNVTUCFBTIPSUGSFFGPSNTUSJOHHJWJOHUIFOBNFPGUIF8FCBQQMJDBUJPOUIBUUIFQBHFSFQSFTFOUT*G
    UIFQBHFJTOPUB8FCBQQMJDBUJPO UIF BQQMJDBUJPOOBNF Q NFUBEBUBOBNFNVTUOPUCFVTFE5IFSFNVTUOPU
    CFNPSFUIBOPOF NFUB Q FMFNFOUXJUIJUT OBNF Q BUUSJCVUFTFUUPUIFWBMVF BQQMJDBUJPOOBNF Q QFS
    EPDVNFOU 6TFSBHFOUTNBZVTFUIFBQQMJDBUJPOOBNFJO6*JOQSFGFSFODFUPUIFQBHFT UJUMF Q TJODFUIFUJUMF
    NJHIUJODMVEFTUBUVTNFTTBHFTBOEUIFMJLFSFMFWBOUUPUIFTUBUVTPGUIFQBHFBUBQBSUJDVMBSNPNFOUJOUJNF
    JOTUFBEPGKVTUCFJOHUIFOBNFPGUIFBQQMJDBUJPO

    :NMAHK
    5IFWBMVFNVTUCFBGSFFGPSNTUSJOHHJWJOHUIFOBNFPGPOFPGUIFQBHFTBVUIPST

    =>L<KBIMBHG
    5IFWBMVFNVTUCFBGSFFGPSNTUSJOHUIBUEFTDSJCFTUIFQBHF5IFWBMVFNVTUCFBQQSPQSJBUFGPSVTFJOB
    EJSFDUPSZPGQBHFT FHJOBTFBSDIFOHJOF5IFSFNVTUOPUCFNPSFUIBOPOF NFUB Q FMFNFOUXJUIJUT OBNF Q
    BUUSJCVUFTFUUPUIFWBMVF EFTDSJQUJPO Q QFSEPDVNFOU

    @>G>K:MHK
    5IFWBMVFNVTUCFBGSFFGPSNTUSJOHUIBUJEFOUJИFTPOFPGUIFTPGUXBSFQBDLBHFTVTFEUPHFOFSBUFUIF
    EPDVNFOU5IJTWBMVFNVTUOPUCFVTFEPOIBOEBVUIPSFEQBHFT

    )FSFJTXIBUBUPPMDBMMFE'SPOUXFBWFSDPVMEJODMVEFJOJUTPVUQVU JOUIFQBHFT IFBE Q FMFNFOU UP


    JEFOUJGZJUTFMGBTUIFUPPMVTFEUPHFOFSBUFUIFQBHF

    NFUBOBNFHFOFSBUPSDPOUFOU'SPOUXFBWFS

    D>RPHK=L
    5IFWBMVFNVTUCFB TFUPGDPNNBTFQBSBUFEUPLFOT Q FBDIPGXIJDIJTBLFZXPSESFMFWBOUUPUIFQBHF

    5IJTQBHFBCPVUUZQFGBDFTPO#SJUJTINPUPSXBZTVTFTB NFUB Q FMFNFOUUPTQFDJGZTPNFLFZXPSETUIBU


    VTFSTNJHIUVTFUPMPPLGPSUIFQBHF

    %0$5:1&)5.-
    IUNM
    IFBE
    UJUMF5ZQFGBDFTPO6,NPUPSXBZTUJUMF
    NFUBOBNFLFZXPSETDPOUFOUCSJUJTI UZQFGBDF GPOU GPOUT IJHIXBZ IJHIXBZT
    IFBE
    CPEZ
    
    *HM> ):GRL>:K<A>G@BG>L=HGHM<HGLB=>KLN<AD>RPHK=L ;><:NL>MABL?>:MNK>A:L
    ABLMHKB<:EER;>>GNL>=NGK>EB:;ER:G=>O>GFBLE>:=BG@ER:L:P:RMHLI:FL>:K<A>G@BG>
    K>LNEMLBG:P:RMA:MBLGHMA>EI?NE?HKNL>KL

    5PPCUBJOUIFMJTUPGLFZXPSETUIBUUIFBVUIPSIBTTQFDJИFEBTBQQMJDBCMFUPUIFQBHF UIFVTFSBHFOUNVTUSVO
    UIFGPMMPXJOHTUFQT

     -FU :4HF>A3B CFBOFNQUZMJTU

    
     'PSFBDI NFUB Q FMFNFOUXJUIB OBNF Q BUUSJCVUFBOEB DPOUFOU Q BUUSJCVUFBOEXIPTF OBNF Q
    BUUSJCVUFTWBMVFJT LFZXPSET Q SVOUIFGPMMPXJOHTVCTUFQT

     4QMJUUIFWBMVFPGUIFFMFNFOUT DPOUFOU BUUSJCVUFPODPNNBT Q 

     "EEUIFSFTVMUJOHUPLFOT JGBOZ UP :4HF>A3B

     3FNPWFBOZEVQMJDBUFTGSPN :4HF>A3B

     3FUVSO :4HF>A3B5IJTJTUIFMJTUPGLFZXPSETUIBUUIFBVUIPSIBTTQFDJИFEBTBQQMJDBCMFUPUIFQBHF

    6TFSBHFOUTTIPVMEOPUVTFUIJTJOGPSNBUJPOXIFOUIFSFJTJOTVКDJFOUDPOИEFODFJOUIFSFMJBCJMJUZPGUIFWBMVF

    'PSJOTUBODF JUXPVMECFSFBTPOBCMFGPSBDPOUFOUNBOBHFNFOUTZTUFNUPVTFUIFLFZXPSEJOGPSNBUJPOPG
    QBHFTXJUIJOUIFTZTUFNUPQPQVMBUFUIFJOEFYPGBTJUFTQFDJИDTFBSDIFOHJOF CVUBMBSHFTDBMFDPOUFOU
    BHHSFHBUPSUIBUVTFEUIJTJOGPSNBUJPOXPVMEMJLFMZИOEUIBUDFSUBJOVTFSTXPVMEUSZUPHBNFJUTSBOLJOH
    NFDIBOJTNUISPVHIUIFVTFPGJOBQQSPQSJBUFLFZXPSET

        +NB?LG?N;>;N;H;G?M

    !RN?HMCIHMNINB?JL?>?]H?>M?NI@G?N;>;N;H;G?M NBZCFSFHJTUFSFEJOUIF 8)"58(8JLJ.FUB&YUFOTJPOT


    QBHF <8)"58(8*,*> Q

    "OZPOFJTGSFFUPFEJUUIF8)"58(8JLJ.FUB&YUFOTJPOTQBHFBUBOZUJNFUPBEEBUZQF5IFTFOFXOBNFTNVTUCF
    TQFDJИFEXJUIUIFGPMMPXJOHJOGPSNBUJPO

    '?SQIL>
    5IFBDUVBMOBNFCFJOHEFИOFE5IFOBNFTIPVMEOPUCFDPOGVTJOHMZTJNJMBSUPBOZPUIFSEFИOFEOBNF FH
    EJЗFSJOHPOMZJODBTF
    

    LC?@>?M=LCJNCIH
    "TIPSUOPOOPSNBUJWFEFTDSJQUJPOPGXIBUUIFNFUBEBUBOBNFTNFBOJOHJT JODMVEJOHUIFGPSNBUUIFWBMVFJT
    SFRVJSFEUPCFJO

    /J?=C]=;NCIH
    "MJOLUPBNPSFEFUBJMFEEFTDSJQUJPOPGUIFNFUBEBUBOBNFTTFNBOUJDTBOESFRVJSFNFOUT*UDPVMECFBOPUIFS
    QBHFPOUIF8JLJ PSBMJOLUPBOFYUFSOBMQBHF

    /SHIHSGM
    "MJTUPGPUIFSOBNFTUIBUIBWFFYBDUMZUIFTBNFQSPDFTTJOHSFRVJSFNFOUT"VUIPSTTIPVMEOPUVTFUIFOBNFT
    EFИOFEUPCFTZOPOZNT UIFZBSFPOMZJOUFOEFEUPBMMPXVTFSBHFOUTUPTVQQPSUMFHBDZDPOUFOU"OZPOFNBZ
    SFNPWFTZOPOZNTUIBUBSFOPUVTFEJOQSBDUJDFPOMZOBNFTUIBUOFFEUPCFQSPDFTTFEBTTZOPOZNTGPS
    DPNQBUJCJMJUZXJUIMFHBDZDPOUFOUBSFUPCFSFHJTUFSFEJOUIJTXBZ

    /N;NOM
    0OFPGUIFGPMMPXJOH

    ,LIJIM?>
    5IFOBNFIBTOPUSFDFJWFEXJEFQFFSSFWJFXBOEBQQSPWBM4PNFPOFIBTQSPQPTFEJUBOEJT PSTPPOXJMM
    CF VTJOHJU
    .;NC]?>
    5IFOBNFIBTSFDFJWFEXJEFQFFSSFWJFXBOEBQQSPWBM*UIBTBTQFDJИDBUJPOUIBUVOBNCJHVPVTMZEFИOFT
    IPXUPIBOEMFQBHFTUIBUVTFUIFOBNF JODMVEJOHXIFOUIFZVTFJUJOJODPSSFDUXBZT
    CM=IHNCHO?>
    5IFNFUBEBUBOBNFIBTSFDFJWFEXJEFQFFSSFWJFXBOEJUIBTCFFOGPVOEXBOUJOH&YJTUJOHQBHFTBSFVTJOH
    UIJTNFUBEBUBOBNF CVUOFXQBHFTTIPVMEBWPJEJU5IFCSJFGEFTDSJQUJPOBOETQFDJИDBUJPOFOUSJFTXJMM
    HJWFEFUBJMTPGXIBUBVUIPSTTIPVMEVTFJOTUFBE JGBOZUIJOH

    *GBNFUBEBUBOBNFJTGPVOEUPCFSFEVOEBOUXJUIFYJTUJOHWBMVFT JUTIPVMECFSFNPWFEBOEMJTUFEBTBTZOPOZN
    GPSUIFFYJTUJOHWBMVF

    *GBNFUBEBUBOBNFJTSFHJTUFSFEJOUIFQSPQPTFETUBUFGPSBQFSJPEPGBNPOUIPSNPSFXJUIPVUCFJOHVTFEPS
    TQFDJИFE UIFOJUNBZCFSFNPWFEGSPNUIFSFHJTUSZ

    *GBNFUBEBUBOBNFJTBEEFEXJUIUIFQSPQPTFETUBUVTBOEGPVOEUPCFSFEVOEBOUXJUIFYJTUJOHWBMVFT JU
    TIPVMECFSFNPWFEBOEMJTUFEBTBTZOPOZNGPSUIFFYJTUJOHWBMVF*GBNFUBEBUBOBNFJTBEEFEXJUIUIF
    QSPQPTFETUBUVTBOEGPVOEUPCFIBSNGVM UIFOJUTIPVMECFDIBOHFEUPEJTDPOUJOVFETUBUVT

    
    "OZPOFDBODIBOHFUIFTUBUVTBUBOZUJNF CVUTIPVMEPOMZEPTPJOBDDPSEBODFXJUIUIFEFИOJUJPOTBCPWF

    $POGPSNBODFDIFDLFSTNVTUVTFUIFJOGPSNBUJPOHJWFOPOUIF8)"58(8JLJ.FUB&YUFOTJPOTQBHFUPFTUBCMJTIJGB
    WBMVFJTBMMPXFEPSOPUWBMVFTEFИOFEJOUIJTTQFDJИDBUJPOPSNBSLFEBTQSPQPTFEPSSBUJИFENVTUCFBDDFQUFE
    XIFSFBTWBMVFTNBSLFEBTEJTDPOUJOVFEPSOPUMJTUFEJOFJUIFSUIJTTQFDJИDBUJPOPSPOUIFBGPSFNFOUJPOFEQBHFNVTU
    CFSFKFDUFEBTJOWBMJE$POGPSNBODFDIFDLFSTNBZDBDIFUIJTJOGPSNBUJPO FHGPSQFSGPSNBODFSFBTPOTPSUPBWPJEUIF
    VTFPGVOSFMJBCMFOFUXPSLDPOOFDUJWJUZ
    

    8IFOBOBVUIPSVTFTBOFXNFUBEBUBOBNFOPUEFИOFECZFJUIFSUIJTTQFDJИDBUJPOPSUIF8JLJQBHF DPOGPSNBODF
    DIFDLFSTTIPVMEPЗFSUPBEEUIFWBMVFUPUIF8JLJ XJUIUIFEFUBJMTEFTDSJCFEBCPWF XJUIUIFQSPQPTFETUBUVT

    .FUBEBUBOBNFTXIPTFWBMVFTBSFUPCF 63-T Q NVTUOPUCFQSPQPTFEPSBDDFQUFE-JOLTNVTUCFSFQSFTFOUFEVTJOH


    UIF MJOL Q FMFNFOU OPUUIF NFUB Q FMFNFOU

        ,L;AG;>CL?=NCP?M

    8IFOUIF COOK @LPDQ BUUSJCVUFJTTQFDJИFEPOB NFUB Q FMFNFOU UIFFMFNFOUJTBQSBHNBEJSFDUJWF

    5IF IUUQFRVJW Q BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q 5IFGPMMPXJOHUBCMFMJTUTUIFLFZXPSETEFИOFEGPSUIJT


    BUUSJCVUF5IFTUBUFTHJWFOJOUIFИSTUDFMMPGUIFSPXTXJUILFZXPSETHJWFUIFTUBUFTUPXIJDIUIPTFLFZXPSETNBQ

    /N;N? '?SQIL>M *IN?M

    $POUFOU-BOHVBHF Q DPOUFOUMBOHVBHF $POGPSNBODFDIFDLFSTXJMMJODMVEFBXBSOJOH


    &ODPEJOHEFDMBSBUJPO Q DPOUFOUUZQF
    %FGBVMUTUZMF Q EFGBVMUTUZMF
    3FGSFTI Q SFGSFTI

    8IFOB NFUB Q FMFNFOUJT JOTFSUFEJOUPUIFEPDVNFOU Q JGJUT IUUQFRVJW Q BUUSJCVUFJTQSFTFOUBOESFQSFTFOUTPOF
    PGUIFBCPWFTUBUFT UIFOUIFVTFSBHFOUNVTUSVOUIFBMHPSJUINBQQSPQSJBUFGPSUIBUTUBUF BTEFTDSJCFEJOUIF
    GPMMPXJOHMJTU

    HGM>GME:G@N:@>LM:M> COOK @LPDQ>JIO@IO G<IBP<B@


    5IJTQSBHNBTFUTUIF JL;AG; M?N>?@;OFNF;HAO;A?6OUJMUIFQSBHNBJTTVDDFTTGVMMZQSPDFTTFE UIFSFJTOP
    QSBHNBTFUEFGBVMUMBOHVBHF Q 

    *HM> HG?HKF:G<><A><D>KLPBEEBG<EN=>:P:KGBG@B?MABLIK:@F:BLNL>= NMAHKL:K>


    >G<HNK:@>=MHNL>MA> E:G@ I :MMKB;NM>BGLM>:=

     *GBOPUIFS NFUB Q FMFNFOUXJUIBO IUUQFRVJW Q BUUSJCVUFJOUIF $POUFOU-BOHVBHFTUBUF Q IBT
    BMSFBEZCFFOTVDDFTTGVMMZQSPDFTTFE JFXIFOJUXBTJOTFSUFEUIFVTFSBHFOUQSPDFTTFEJUBOESFBDIFE
    UIFMBTUTUFQPGUIJTMJTUPGTUFQT
    UIFOBCPSUUIFTFTUFQT

     *GUIF NFUB Q FMFNFOUIBTOP DPOUFOU Q BUUSJCVUF PSJGUIBUBUUSJCVUFTWBMVFJTUIFFNQUZTUSJOH UIFO


    BCPSUUIFTFTUFQT

     *GUIFFMFNFOUT DPOUFOU Q BUUSJCVUFDPOUBJOTB6 $$0.."DIBSBDUFS


    UIFOBCPSUUIFTFTUFQT

     -FU 8=?DC CFUIFWBMVFPGUIFFMFNFOUT DPOUFOU Q BUUSJCVUF

     -FU ?>B8C8>= QPJOUBUUIFИSTUDIBSBDUFSPG 8=?DC

     4LJQXIJUFTQBDF Q 

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q UIBUBSFOPU TQBDFDIBSBDUFST Q 

     -FUUIF QSBHNBTFUEFGBVMUMBOHVBHF Q CFUIFTUSJOHUIBUSFTVMUFEGSPNUIFQSFWJPVTTUFQ

    'PS NFUB Q FMFNFOUTXJUIBO IUUQFRVJW Q BUUSJCVUFJOUIF $POUFOU-BOHVBHFTUBUF Q UIF DPOUFOU Q
    BUUSJCVUFNVTUIBWFBWBMVFDPOTJTUJOHPGBWBMJE#$1MBOHVBHFDPEF <#$1> Q

    *HM> 0ABLIK:@F:BLGHM>Q:<MER>JNBO:E>GMMHMA>$00, "HGM>GM *:G@N:@> A>:=>K ?HK


    BGLM:G<>BMHGERLNIIHKMLHG>E:G@N:@> 7$00,8 I

    
    !G<H=BG@=><E:K:MBHGLM:M> COOK @LPDQ>JIO@IO OTK@
    5IF &ODPEJOHEFDMBSBUJPOTUBUF Q JTKVTUBOBMUFSOBUJWFGPSNPGTFUUJOHUIF DIBSTFU BUUSJCVUFJUJTB DIBSBDUFS
    FODPEJOHEFDMBSBUJPO Q  5IJTTUBUFTVTFSBHFOUSFRVJSFNFOUTBSFBMMIBOEMFECZUIFQBSTJOHTFDUJPOPGUIF
    TQFDJИDBUJPO

    'PS NFUB Q FMFNFOUTXJUIBO IUUQFRVJW Q BUUSJCVUFJOUIF &ODPEJOHEFDMBSBUJPOTUBUF Q UIF DPOUFOU Q
    BUUSJCVUFNVTUIBWFBWBMVFUIBUJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSBTUSJOHUIBUDPOTJTUTPGUIFMJUFSBM
    TUSJOHUFYUIUNM PQUJPOBMMZGPMMPXFECZBOZOVNCFSPG TQBDFDIBSBDUFST Q GPMMPXFECZUIFMJUFSBMTUSJOH
    DIBSTFU GPMMPXFECZUIFDIBSBDUFSFODPEJOHOBNFPGUIF DIBSBDUFSFODPEJOHEFDMBSBUJPO Q 

    *GUIFEPDVNFOUDPOUBJOTB NFUB Q FMFNFOUXJUIBO IUUQFRVJW Q BUUSJCVUFJOUIF &ODPEJOHEFDMBSBUJPO


    TUBUF Q UIFOUIFEPDVNFOUNVTUOPUDPOUBJOB NFUB Q FMFNFOUXJUIUIF DIBSTFU Q BUUSJCVUFQSFTFOU

    5IF &ODPEJOHEFDMBSBUJPOTUBUF Q NBZCFVTFEJO )5.-EPDVNFOUT Q CVUFMFNFOUTXJUIBO IUUQFRVJW Q


    BUUSJCVUFJOUIBUTUBUFNVTUOPUCFVTFEJO 9.-EPDVNFOUT Q 

    >?:NEMLMRE>LM:M> COOK @LPDQ?@A<PGO NOTG@


    5IJTQSBHNBTFUTUIFOBNFPGUIFEFGBVMU BMUFSOBUJWFTUZMFTIFFUTFU

     *GUIF NFUB Q FMFNFOUIBTOP DPOUFOU Q BUUSJCVUF PSJGUIBUBUUSJCVUFTWBMVFJTUIFFNQUZTUSJOH UIFO


    BCPSUUIFTFTUFQT

     4FUUIF QSFGFSSFETUZMFTIFFUTFU UPUIFWBMVFPGUIFFMFNFOUT DPOUFOU Q BUUSJCVUF <$440.> Q

    .>?K>LALM:M> COOK @LPDQM@AM@NC


    5IJTQSBHNBBDUTBTUJNFESFEJSFDU

     *GBOPUIFS NFUB Q FMFNFOUXJUIBO IUUQFRVJW Q BUUSJCVUFJOUIF 3FGSFTITUBUF Q IBTBMSFBEZCFFO
    TVDDFTTGVMMZQSPDFTTFE JFXIFOJUXBTJOTFSUFEUIFVTFSBHFOUQSPDFTTFEJUBOESFBDIFEUIFMBTUTUFQ
    PGUIJTMJTUPGTUFQT
    UIFOBCPSUUIFTFTUFQT

     *GUIF NFUB Q FMFNFOUIBTOP DPOUFOU Q BUUSJCVUF PSJGUIBUBUUSJCVUFTWBMVFJTUIFFNQUZTUSJOH UIFO


    BCPSUUIFTFTUFQT

     -FU 8=?DC CFUIFWBMVFPGUIFFMFNFOUT DPOUFOU Q BUUSJCVUF

     -FU ?>B8C8>= QPJOUBUUIFИSTUDIBSBDUFSPG 8=?DC

     4LJQXIJUFTQBDF Q 

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 

    BOEQBSTFUIFSFTVMUJOHTUSJOHVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q *GUIFTFRVFODFPG
    DIBSBDUFSTDPMMFDUFEJTUIFFNQUZTUSJOH UIFOOPOVNCFSXJMMIBWFCFFOQBSTFEBCPSUUIFTFTUFQT
    0UIFSXJTF MFU C8<4 CFUIFQBSTFEOVNCFS

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    BOE
    6 &'6--4501 
    *HOPSFBOZDPMMFDUFEDIBSBDUFST

     4LJQXIJUFTQBDF Q 

     -FU DA; CFUIFBEESFTTPGUIFDVSSFOUQBHF

     *GUIFDIBSBDUFSJO 8=?DC QPJOUFEUPCZ ?>B8C8>= JTB6 #4&.*$0-0/ 


    UIFOBEWBODF ?>B8C8>= UP
    UIFOFYUDIBSBDUFS0UIFSXJTF KVNQUPUIFMBTUTUFQ

     4LJQXIJUFTQBDF Q 

     *GUIFDIBSBDUFSJO 8=?DC QPJOUFEUPCZ ?>B8C8>= JTB6 -"5*/$"1*5"--&55&36DIBSBDUFS 6


    PSB
    6 -"5*/4."---&55&36DIBSBDUFS V
    UIFOBEWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS0UIFSXJTF
    KVNQUPUIFMBTUTUFQ

     *GUIFDIBSBDUFSJO 8=?DC QPJOUFEUPCZ ?>B8C8>= JTB6 -"5*/$"1*5"--&55&33DIBSBDUFS 3


    PSB
    6 -"5*/4."---&55&33DIBSBDUFS S
    UIFOBEWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS0UIFSXJTF
    KVNQUPUIFMBTUTUFQ

     *GUIFDIBSBDUFSJO 8=?DC QPJOUFEUPCZ ?>B8C8>= JTT6 $-"5*/$"1*5"--&55&3-DIBSBDUFS -


    PSB
    6 $-"5*/4."---&55&3-DIBSBDUFS M
    UIFOBEWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS0UIFSXJTF
    KVNQUPUIFMBTUTUFQ

     4LJQXIJUFTQBDF Q 

    
     *GUIFDIBSBDUFSJO 8=?DC QPJOUFEUPCZ ?>B8C8>= JTB6 %&26"-44*(/ 
    UIFOBEWBODF ?>B8C8>=
    UPUIFOFYUDIBSBDUFS0UIFSXJTF KVNQUPUIFMBTUTUFQ

     4LJQXIJUFTQBDF Q 

     *GUIFDIBSBDUFSJO 8=?DC QPJOUFEUPCZ ?>B8C8>= JTFJUIFSB6 "1045301)&DIBSBDUFS 


    PS
    6 2605"5*0/."3,DIBSBDUFS 
    UIFOMFU @D>C4 CFUIBUDIBSBDUFS BOEBEWBODF ?>B8C8>= UPUIF
    OFYUDIBSBDUFS0UIFSXJTF MFU @D>C4 CFUIFFNQUZTUSJOH

     -FU DA; CFFRVBMUPUIFTVCTUSJOHPG 8=?DC GSPNUIFDIBSBDUFSBU ?>B8C8>= UPUIFFOEPGUIFTUSJOH

     *G @D>C4 JTOPUUIFFNQUZTUSJOH BOEUIFSFJTBDIBSBDUFSJO DA; FRVBMUP @D>C4 UIFOUSVODBUF DA; BUUIBU
    DIBSBDUFS TPUIBUJUBOEBMMTVCTFRVFOUDIBSBDUFSTBSFSFNPWFE

     4USJQBOZUSBJMJOH TQBDFDIBSBDUFST Q GSPNUIFFOEPG DA;

     4USJQBOZ6 $)"3"$5&35"#6-"5*0/ 6 "-*/&'&&% -'


    BOE6 %$"33*"(&3&563/
    $3
    DIBSBDUFSTGSPN DA;

     3FTPMWF Q UIF DA; WBMVFUPBO BCTPMVUF63- Q SFMBUJWFUPUIF NFUB Q FMFNFOU*GUIJTGBJMT BCPSUUIFTF
    TUFQT

     1FSGPSNPOFPSNPSFPGUIFGPMMPXJOHTUFQT

    Ǭ 4FUBUJNFSTPUIBUJO C8<4 TFDPOET BEKVTUFEUPUBLFJOUPBDDPVOUVTFSPSVTFSBHFOU


    QSFGFSFODFT JGUIFVTFSIBTOPUDBODFMFEUIFSFEJSFDUBOEJGUIF NFUB Q FMFNFOUT
    %PDVNFOU Q T CSPXTJOHDPOUFYU Q EJEOPUIBWFUIF TBOECPYFEBVUPNBUJDGFBUVSFTCSPXTJOH
    DPOUFYUЙBH Q TFUXIFOUIF %PDVNFOU Q XBTDSFBUFE UIFVTFSBHFOU OBWJHBUFT Q UIF
    %PDVNFOU Q T CSPXTJOHDPOUFYU Q UP DA; XJUI SFQMBDFNFOUFOBCMFE Q BOEXJUIUIF
    %PDVNFOU Q T CSPXTJOHDPOUFYU Q BTUIF TPVSDFCSPXTJOHDPOUFYU Q 

    Ǭ 1SPWJEFUIFVTFSXJUIBOJOUFSGBDFUIBU XIFOTFMFDUFE OBWJHBUFT Q B CSPXTJOHDPOUFYU Q


    UP DA; XJUIUIFEPDVNFOUTCSPXTJOHDPOUFYUBTUIF TPVSDFCSPXTJOHDPOUFYU Q 

    Ǭ %POPUIJOH

    *OBEEJUJPO UIFVTFSBHFOUNBZ BTXJUIBOZUIJOH JOGPSNUIFVTFSPGBOZBOEBMMBTQFDUTPGJUT


    PQFSBUJPO JODMVEJOHUIFTUBUFPGBOZUJNFST UIFEFTUJOBUJPOTPGBOZUJNFESFEJSFDUT BOETPGPSUI

    'PS NFUB Q FMFNFOUTXJUIBO IUUQFRVJW Q BUUSJCVUFJOUIF 3FGSFTITUBUF Q UIF DPOUFOU Q BUUSJCVUFNVTU
    IBWFBWBMVFDPOTJTUJOHFJUIFSPG

    Ǭ KVTUB WBMJEOPOOFHBUJWFJOUFHFS Q PS

    Ǭ B WBMJEOPOOFHBUJWFJOUFHFS Q GPMMPXFECZB6 #4&.*$0-0/DIBSBDUFS 


    GPMMPXFECZPOFPS
    NPSF TQBDFDIBSBDUFST Q GPMMPXFECZFJUIFSB6 -"5*/$"1*5"--&55&36DIBSBDUFS 6
    PSB
    6 -"5*/4."---&55&36DIBSBDUFS V
    B6 -"5*/$"1*5"--&55&33DIBSBDUFS 3
    PSB
    6 -"5*/4."---&55&33DIBSBDUFS S
    B6 $-"5*/$"1*5"--&55&3-DIBSBDUFS -
    PSB
    6 $-"5*/4."---&55&3-DIBSBDUFS M
    B6 %&26"-44*(/DIBSBDUFS 
    BOEUIFOB WBMJE
    63- Q 

    *OUIFGPSNFSDBTF UIFJOUFHFSSFQSFTFOUTBOVNCFSPGTFDPOETCFGPSFUIFQBHFJTUPCFSFMPBEFEJOUIFMBUUFS
    DBTFUIFJOUFHFSSFQSFTFOUTBOVNCFSPGTFDPOETCFGPSFUIFQBHFJTUPCFSFQMBDFECZUIFQBHFBUUIFHJWFO
    63- Q 

    "OFXTPSHBOJ[BUJPOTGSPOUQBHFDPVMEJODMVEFUIFGPMMPXJOHNBSLVQJOUIFQBHFT IFBE Q FMFNFOU UP


    FOTVSFUIBUUIFQBHFBVUPNBUJDBMMZSFMPBETGSPNUIFTFSWFSFWFSZИWFNJOVUFT

    NFUBIUUQFRVJW3FGSFTIDPOUFOU
    "TFRVFODFPGQBHFTDPVMECFVTFEBTBOBVUPNBUFETMJEFTIPXCZNBLJOHFBDIQBHFSFGSFTIUPUIFOFYU
    QBHFJOUIFTFRVFODF VTJOHNBSLVQTVDIBTUIFGPMMPXJOH

    NFUBIUUQFRVJW3FGSFTIDPOUFOU63-QBHFIUNM

    5IFSFNVTUOPUCFNPSFUIBOPOF NFUB Q FMFNFOUXJUIBOZQBSUJDVMBSTUBUFJOUIFEPDVNFOUBUBUJNF

    
        +NB?LJL;AG;>CL?=NCP?M

    !RN?HMCIHMNINB?JL?>?]H?>M?NI@JL;AG;>CL?=NCP?M NBZ VOEFSDFSUBJODPOEJUJPOT CFSFHJTUFSFEJOUIF


    8)"58(8JLJ1SBHNB&YUFOTJPOTQBHF <8)"58(8*,*> Q

    4VDIFYUFOTJPOTNVTUVTFBOBNFUIBUJTJEFOUJDBMUPBO)551IFBEFSSFHJTUFSFEJOUIF1FSNBOFOU.FTTBHF)FBEFS
    'JFME3FHJTUSZ BOENVTUIBWFCFIBWJPSJEFOUJDBMUPUIBUEFTDSJCFEGPSUIF)551IFBEFS <*"/"1&3.)&"%&34> Q

    1SBHNBEJSFDUJWFTDPSSFTQPOEJOHUPIFBEFSTEFTDSJCJOHNFUBEBUB PSOPUSFRVJSJOHTQFDJИDVTFSBHFOUQSPDFTTJOH
    NVTUOPUCFSFHJTUFSFEJOTUFBE VTF NFUBEBUBOBNFT Q 1SBHNBEJSFDUJWFTDPSSFTQPOEJOHUPIFBEFSTUIBUBЗFDUUIF
    )551QSPDFTTJOHNPEFM FHDBDIJOH
    NVTUOPUCFSFHJTUFSFE BTUIFZXPVMESFTVMUJO)551MFWFMCFIBWJPSCFJOH
    EJЗFSFOUGPSVTFSBHFOUTUIBUJNQMFNFOU)5.-UIBOGPSVTFSBHFOUTUIBUEPOPU

    "OZPOFJTGSFFUPFEJUUIF8)"58(8JLJ1SBHNB&YUFOTJPOTQBHFBUBOZUJNFUPBEEBQSBHNBEJSFDUJWFTBUJTGZJOH
    UIFTFDPOEJUJPOT4VDISFHJTUSBUJPOTNVTUTQFDJGZUIFGPMMPXJOHJOGPSNBUJPO

    '?SQIL>
    5IFBDUVBMOBNFCFJOHEFИOFE5IFOBNFNVTUNBUDIBQSFWJPVTMZSFHJTUFSFE)551OBNFXJUIUIFTBNF
    SFRVJSFNFOUT

    LC?@>?M=LCJNCIH
    "TIPSUOPOOPSNBUJWFEFTDSJQUJPOPGUIFQVSQPTFPGUIFQSBHNBEJSFDUJWF

    /J?=C]=;NCIH
    "MJOLUPUIFTQFDJИDBUJPOEFИOJOHUIFDPSSFTQPOEJOH)551IFBEFS

    $POGPSNBODFDIFDLFSTNVTUVTFUIFJOGPSNBUJPOHJWFOPOUIF8)"58(8JLJ1SBHNB&YUFOTJPOTQBHFUPFTUBCMJTIJGB
    WBMVFJTBMMPXFEPSOPUWBMVFTEFИOFEJOUIJTTQFDJИDBUJPOPSMJTUFEPOUIFBGPSFNFOUJPOFEQBHFNVTUCFBDDFQUFE
    XIFSFBTWBMVFTOPUMJTUFEJOFJUIFSUIJTTQFDJИDBUJPOPSPOUIFBGPSFNFOUJPOFEQBHFNVTUCFSFKFDUFEBTJOWBMJE
    $POGPSNBODFDIFDLFSTNBZDBDIFUIJTJOGPSNBUJPO FHGPSQFSGPSNBODFSFBTPOTPSUPBWPJEUIFVTFPGVOSFMJBCMF
    OFUXPSLDPOOFDUJWJUZ
    

        /J?=C@SCHANB?>I=OG?HNM=B;L;=N?L?H=I>CHA

    " =B;L;=N?L?H=I>CHA>?=F;L;NCIH JTBNFDIBOJTNCZXIJDIUIFDIBSBDUFSFODPEJOHVTFEUPTUPSFPSUSBOTNJUB


    EPDVNFOUJTTQFDJИFE

    5IFGPMMPXJOHSFTUSJDUJPOTBQQMZUPDIBSBDUFSFODPEJOHEFDMBSBUJPOT

    Ǭ 5IFDIBSBDUFSFODPEJOHOBNFHJWFONVTUCFUIFOBNFPGUIFDIBSBDUFSFODPEJOHVTFEUPTFSJBMJ[FUIFИMF

    Ǭ 5IFWBMVFNVTUCFBWBMJEDIBSBDUFSFODPEJOHOBNF BOENVTUCFBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIF


    QSFGFSSFE.*.&OBNF Q GPSUIBUFODPEJOH <*"/"$)"34&5> Q

    Ǭ 5IFDIBSBDUFSFODPEJOHEFDMBSBUJPONVTUCFTFSJBMJ[FEXJUIPVUUIFVTFPG DIBSBDUFSSFGFSFODFT Q PS


    DIBSBDUFSFTDBQFTPGBOZLJOE

    Ǭ 5IFFMFNFOUDPOUBJOJOHUIFDIBSBDUFSFODPEJOHEFDMBSBUJPONVTUCFTFSJBMJ[FEDPNQMFUFMZXJUIJOUIFИSTU
    CZUFTPGUIFEPDVNFOU

    Ǭ 5IFSFDBOPOMZCFPOFDIBSBDUFSFODPEJOHEFDMBSBUJPOJOUIFEPDVNFOU

    *GBO )5.-EPDVNFOU Q EPFTOPUTUBSUXJUIB#0. BOEJGJUTFODPEJOHJTOPUFYQMJDJUMZHJWFOCZ $POUFOU5ZQF


    NFUBEBUB Q BOEUIFEPDVNFOUJTOPU BO JGSBNF TSDEPD EPDVNFOU Q UIFOUIFDIBSBDUFSFODPEJOHVTFENVTUCFBO
    "4$**DPNQBUJCMFDIBSBDUFSFODPEJOH Q BOE JOBEEJUJPO JGUIBUFODPEJOHJTOU64"4$**JUTFMG UIFOUIFFODPEJOHNVTU
    CFTQFDJИFEVTJOHB NFUB Q FMFNFOUXJUIB DIBSTFU Q BUUSJCVUFPSB NFUB Q FMFNFOUXJUIBO IUUQFRVJW Q
    BUUSJCVUFJOUIF &ODPEJOHEFDMBSBUJPOTUBUF Q 

    *GUIFEPDVNFOUJT BO JGSBNF TSDEPD EPDVNFOU Q UIFEPDVNFOUNVTUOPUIBWFB DIBSBDUFSFODPEJOHEFDMBSBUJPO Q 


    *OUIJTDBTF UIFTPVSDFJTBMSFBEZEFDPEFE TJODFJUJTQBSUPGUIFEPDVNFOUUIBUDPOUBJOFEUIF JGSBNF Q 

    *GBO )5.-EPDVNFOU Q DPOUBJOTB NFUB Q FMFNFOUXJUIB DIBSTFU Q BUUSJCVUFPSB NFUB Q FMFNFOUXJUIBO IUUQ
    FRVJW Q BUUSJCVUFJOUIF &ODPEJOHEFDMBSBUJPOTUBUF Q UIFOUIFDIBSBDUFSFODPEJOHVTFENVTUCFBO "4$**
    DPNQBUJCMFDIBSBDUFSFODPEJOH Q 

    "VUIPSTBSFFODPVSBHFEUPVTF65'$POGPSNBODFDIFDLFSTNBZBEWJTFBVUIPSTBHBJOTUVTJOHMFHBDZFODPEJOHT

    "VUIPSJOHUPPMTTIPVMEEFGBVMUUPVTJOH65'GPSOFXMZDSFBUFEEPDVNFOUT

    
    &ODPEJOHTJOXIJDIBTFSJFTPGCZUFTJOUIFSBOHFYUPY&DBOFODPEFDIBSBDUFSTPUIFSUIBOUIFDPSSFTQPOEJOH
    DIBSBDUFSTJOUIFSBOHF6 UP6 &SFQSFTFOUBQPUFOUJBMTFDVSJUZWVMOFSBCJMJUZBVTFSBHFOUUIBUEPFTOPU
    TVQQPSUUIFFODPEJOH PSEPFTOPUTVQQPSUUIFMBCFMVTFEUPEFDMBSFUIFFODPEJOH PSEPFTOPUVTFUIFTBNF
    NFDIBOJTNUPEFUFDUUIFFODPEJOHPGVOMBCFMMFEDPOUFOUBTBOPUIFSVTFSBHFOU
    NJHIUFOEVQJOUFSQSFUJOHUFDIOJDBMMZ
    CFOJHOQMBJOUFYUDPOUFOUBT)5.-UBHTBOE+BWB4DSJQU'PSFYBNQMF UIJTBQQMJFTUPFODPEJOHTJOXIJDIUIFCZUFT
    DPSSFTQPOEJOHUPTDSJQUJO"4$**DBOFODPEFBEJЗFSFOUTUSJOH"VUIPSTTIPVMEOPUVTFTVDIFODPEJOHT XIJDIBSF
    LOPXOUPJODMVEF+*4@$ +*4@9 );(# +0)"# 8JOEPXTDPEFQBHF
    FODPEJOHTCBTFE
    PO*40 BOEFODPEJOHTCBTFEPO&#$%*$'VSUIFSNPSF BVUIPSTNVTUOPUVTFUIF$&46 65' #0$6BOE
    4$46FODPEJOHT XIJDIBMTPGBMMJOUPUIJTDBUFHPSZ CFDBVTFUIFTFFODPEJOHTXFSFOFWFSJOUFOEFEGPSVTFGPS8FC
    DPOUFOU <3'$> Q <3'$> Q <3'$> Q <3'$> Q <3'$> Q <3'$> Q <3'$> Q
    <$&46> Q <65'> Q <#0$6> Q <4$46> Q

    "VUIPSTTIPVMEOPUVTF65' BTUIFFODPEJOHEFUFDUJPOBMHPSJUINTEFTDSJCFEJOUIJTTQFDJИDBUJPOJOUFOUJPOBMMZEP
    OPUEJTUJOHVJTIJUGSPN65' <6/*$0%&> Q

    *HM> 1LBG@GHG
    10"
    >G<H=BG@L<:GA:O>NG>QI><M>=K>LNEMLHG?HKFLN;FBLLBHG:G=1.(
    >G<H=BG@L PAB<ANL>MA> =H<NF>GML<A:K:<M>K>G<H=BG@ I ;R=>?:NEM

    *O9)5.- UIF9.-EFDMBSBUJPOTIPVMECFVTFEGPSJOMJOFDIBSBDUFSFODPEJOHJOGPSNBUJPO JGOFDFTTBSZ

    *O)5.- UPEFDMBSFUIBUUIFDIBSBDUFSFODPEJOHJT65' UIFBVUIPSDPVMEJODMVEFUIFGPMMPXJOHNBSLVQOFBSUIF


    UPQPGUIFEPDVNFOU JOUIF IFBE Q FMFNFOU
    

    NFUBDIBSTFUVUG

    *O9.- UIF9.-EFDMBSBUJPOXPVMECFVTFEJOTUFBE BUUIFWFSZUPQPGUIFNBSLVQ

     YNMWFSTJPOFODPEJOHVUG 

       0B? NOTG@ ?F?G?HN

    ;N?AILC?M
    .FUBEBUBDPOUFOU Q 
    *GUIF TDPQFE Q BUUSJCVUFJTQSFTFOU ЙPXDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    *GUIF TDPQFE Q BUUSJCVUFJTBCTFOUXIFSF NFUBEBUBDPOUFOU Q JTFYQFDUFE
    *GUIF TDPQFE Q BUUSJCVUFJTBCTFOUJOB OPTDSJQU Q FMFNFOUUIBUJTBDIJMEPGB IFBE Q FMFNFOU
    *GUIF TDPQFE Q BUUSJCVUFJTQSFTFOUXIFSF ЙPXDPOUFOU Q JTFYQFDUFE CVUCFGPSFBOZPUIFS ЙPXDPOUFOU Q
    PUIFSUIBOPUIFS TUZMF Q FMFNFOUTBOE JOUFSFMFNFOUXIJUFTQBDF Q 

    IHN?HNGI>?F
    %FQFOETPOUIFWBMVFPGUIF UZQF Q BUUSJCVUF CVUNVTUNBUDISFRVJSFNFOUTEFTDSJCFEJOQSPTFCFMPX

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    NFEJB Q
    UZQF Q
    TDPQFE Q
    "MTP UIF UJUMF Q BUUSJCVUFIBTTQFDJBMTFNBOUJDTPOUIJTFMFNFOU

    +)CHN?L@;=?

    JOUFSGBDF &2+*1OTG@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO EJTBCMFE
    BUUSJCVUF%0.4USJOH NFEJB
    BUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUFCPPMFBO TDPQFE
    ^
    )5.-4UZMF&MFNFOU JNQMFNFOUT -JOL4UZMF

    5IF TUZMF Q FMFNFOUBMMPXTBVUIPSTUPFNCFETUZMFJOGPSNBUJPOJOUIFJSEPDVNFOUT5IF TUZMF Q FMFNFOUJTPOFPG


    TFWFSBMJOQVUTUPUIF TUZMJOHQSPDFTTJOHNPEFM Q 5IFFMFNFOUEPFTOPU SFQSFTFOU Q DPOUFOUGPSUIFVTFS

    
    5IF OTK@ BUUSJCVUFHJWFTUIFTUZMJOHMBOHVBHF*GUIFBUUSJCVUFJTQSFTFOU JUTWBMVFNVTUCFB WBMJE.*.&UZQF Q UIBU
    EFTJHOBUFTBTUZMJOHMBOHVBHF5IF DIBSTFU QBSBNFUFSNVTUOPUCFTQFDJИFE5IFEFGBVMU XIJDIJTVTFEJGUIF
    BUUSJCVUFJTBCTFOU JTUFYUDTT <3'$> Q

    8IFOFYBNJOJOHUZQFTUPEFUFSNJOFJGUIFZTVQQPSUUIFMBOHVBHF VTFSBHFOUTNVTUOPUJHOPSFVOLOPXO.*.&
    QBSBNFUFSTǡUZQFTXJUIVOLOPXOQBSBNFUFSTNVTUCFBTTVNFEUPCFVOTVQQPSUFE5IF DIBSTFU QBSBNFUFSNVTUCF
    USFBUFEBTBOVOLOPXOQBSBNFUFSGPSUIFQVSQPTFPGDPNQBSJOH .*.&UZQFT Q IFSF

    5IF H@?D< BUUSJCVUFTBZTXIJDINFEJBUIFTUZMFTBQQMZUP5IFWBMVFNVTUCFB WBMJENFEJBRVFSZ Q  5IFVTFSBHFOU


    NVTUBQQMZUIFTUZMFTXIFOUIF NFEJB Q BUUSJCVUFTWBMVF NBUDIFTUIFFOWJSPONFOU Q BOEUIFPUIFSSFMFWBOU
    DPOEJUJPOTBQQMZ BOENVTUOPUBQQMZUIFNPUIFSXJTF

    *HM> 0A>LMRE>LFB@AM;>?NKMA>KEBFBM>=BGL<HI> > @ BG//PBMAMA>NL>H? F>=B: ;EH<DL 0ABL


    LI><B[<:MBHG=H>LGHMHO>KKB=>LN<A?NKMA>KK>LMKB<MBHGLHKK>JNBK>F>GML

    5IFEFGBVMU JGUIF NFEJB Q BUUSJCVUFJTPNJUUFE JTBMM NFBOJOHUIBUCZEFGBVMUTUZMFTBQQMZUPBMMNFEJB

    5IF N>JK@? BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q *GTFU JUJOEJDBUFTUIBUUIFTUZMFTBSFJOUFOEFEKVTUGPSUIFTVCUSFFSPPUFE


    BUUIF TUZMF Q FMFNFOUTQBSFOUFMFNFOU BTPQQPTFEUPUIFXIPMF %PDVNFOU Q 

    *GUIF TDPQFE Q BUUSJCVUFJTQSFTFOU UIFOUIFVTFSBHFOUNVTUBQQMZUIFTQFDJИFETUZMFJOGPSNBUJPOPOMZUPUIF


    TUZMF Q FMFNFOUTQBSFOUFMFNFOU JGBOZ
    BOEUIBUFMFNFOUTDIJMEOPEFT0UIFSXJTF UIFTQFDJИFETUZMFTNVTU JG
    BQQMJFE CFBQQMJFEUPUIFFOUJSFEPDVNFOU

    5IF ODOG@ BUUSJCVUFPO TUZMF Q FMFNFOUTEFИOFT BMUFSOBUJWFTUZMFTIFFUTFUT*GUIF TUZMF Q FMFNFOUIBTOP
    UJUMF Q BUUSJCVUF UIFOJUIBTOPUJUMFUIF UJUMF Q BUUSJCVUFPGBODFTUPSTEPFTOPUBQQMZUPUIF TUZMF Q FMFNFOU
    <$440.> Q

    *HM> 0A> MBME> I :MMKB;NM>HG LMRE> I >E>F>GML EBD>MA> MBME> I :MMKB;NM>HG EBGD I >E>F>GML
    =BZ>KL?KHFMA>@EH;:E MBME> I :MMKB;NM>BGMA:M: LMRE> I ;EH<DPBMAHNM:MBME>=H>LGHMBGA>KBM
    MA>MBME>H?MA>I:K>GM>E>F>GMBMF>K>ERA:LGHMBME>

    5IF UFYU$POUFOU Q PGB TUZMF Q FMFNFOUNVTUNBUDIUIF TUZMF QSPEVDUJPOJOUIFGPMMPXJOH"#/' UIFDIBSBDUFSTFU
    GPSXIJDIJT6OJDPEF <"#/'> Q

    TUZMFOPDTUBSU DTUBSUOPDFOEDFOEOPDTUBSU

    OPDTUBSUBOZTUSJOHUIBUEPFTOUDPOUBJOBTVCTUSJOHUIBUNBUDIFTDTUBSU
    DTUBSU
    OPDFOEBOZTUSJOHUIBUEPFTOUDPOUBJOBTVCTUSJOHUIBUNBUDIFTDFOE
    DFOE

    "MMEFTDFOEBOUFMFNFOUTNVTUCFQSPDFTTFE BDDPSEJOHUPUIFJSTFNBOUJDT CFGPSFUIF TUZMF Q FMFNFOUJUTFMGJT


    FWBMVBUFE'PSTUZMJOHMBOHVBHFTUIBUDPOTJTUPGQVSFUFYU VTFSBHFOUTNVTUFWBMVBUF TUZMF Q FMFNFOUTCZQBTTJOH
    UIFDPODBUFOBUJPOPGUIFDPOUFOUTPGBMMUIF UFYUOPEFT Q UIBUBSFEJSFDUDIJMESFOPGUIF TUZMF Q FMFNFOU OPUBOZ
    PUIFSOPEFTTVDIBTDPNNFOUTPSFMFNFOUT
    JO USFFPSEFS Q UPUIFTUZMFTZTUFN'PS9.-CBTFETUZMJOHMBOHVBHFT
    VTFSBHFOUTNVTUQBTTBMMUIFDIJMEOPEFTPGUIF TUZMF Q FMFNFOUUPUIFTUZMFTZTUFN

    "MM 63-T Q GPVOECZUIFTUZMJOHMBOHVBHFTQSPDFTTPSNVTUCF SFTPMWFE Q SFMBUJWFUPUIFFMFNFOU PSBTEFИOFECZUIF


    TUZMJOHMBOHVBHF
    XIFOUIFQSPDFTTPSJTJOWPLFE

    0ODFUIFBUUFNQUTUPPCUBJOUIFTUZMFTIFFUT DSJUJDBMTVCSFTPVSDFT Q JGBOZ BSFDPNQMFUF PS JGUIFTUZMFTIFFUIBTOP


    DSJUJDBMTVCSFTPVSDFT Q PODFUIFTUZMFTIFFUIBTCFFOQBSTFEBOEQSPDFTTFE UIFVTFSBHFOUNVTU JGUIFMPBETXFSF
    TVDDFTTGVMPSUIFSFXFSFOPOF RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BUUIF TUZMF Q FMFNFOU PS JG
    POFPGUIFTUZMFTIFFUT DSJUJDBMTVCSFTPVSDFT Q GBJMFEUPDPNQMFUFMZMPBEGPSBOZSFBTPO FH%/4FSSPS )551
    SFTQPOTF BDPOOFDUJPOCFJOHQSFNBUVSFMZDMPTFE VOTVQQPSUFE$POUFOU5ZQF
    RVFVFBUBTL Q UP ИSFBTJNQMF
    FWFOU Q OBNFE FSSPS BUUIF TUZMF Q FMFNFOU/POOFUXPSLFSSPSTJOQSPDFTTJOHUIFTUZMFTIFFUPSJUTTVCSFTPVSDFT
    FH$44QBSTFFSSPST 1/(EFDPEJOHFSSPST
    BSFOPUGBJMVSFTGPSUIFQVSQPTFTPGUIJTQBSBHSBQI

    5IF UBTLTPVSDF Q GPSUIFTF UBTLT Q JTUIF %0.NBOJQVMBUJPOUBTLTPVSDF Q 

    5IFFMFNFOUNVTU EFMBZUIFMPBEFWFOU Q PGUIFFMFNFOUTEPDVNFOUVOUJMBMMUIFBUUFNQUTUPPCUBJOUIFTUZMFTIFFUT


    DSJUJDBMTVCSFTPVSDFT Q JGBOZ BSFDPNQMFUF

    *HM> 0ABLLI><B[<:MBHG=H>LGHMLI><B?R:LMRE>LRLM>F ;NM//BL>QI><M>=MH;>LNIIHKM>=;R


    FHLM3>;;KHPL>KL 7//8 I

    
    5IF H@?D< OTK@ BOE N>JK@? *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF ?DN<=G@? *%-BUUSJCVUFCFIBWFTBTEFИOFE GPSUIFBMUFSOBUJWFTUZMFTIFFUT%0. Q 

    5IF -JOL4UZMF JOUFSGBDFJTBMTPJNQMFNFOUFECZUIJTFMFNFOUUIF TUZMJOHQSPDFTTJOHNPEFM Q EFИOFTIPX


    <$440.> Q

    5IFGPMMPXJOHEPDVNFOUIBTJUTFNQIBTJTTUZMFEBTCSJHIUSFEUFYUSBUIFSUIBOJUBMJDTUFYU XIJMFMFBWJOHUJUMFTPG
    XPSLTBOE-BUJOXPSETJOUIFJSEFGBVMUJUBMJDT*UTIPXTIPXVTJOHBQQSPQSJBUFFMFNFOUTFOBCMFTFBTJFSSFTUZMJOH
    PGEPDVNFOUT

    %0$5:1&IUNM
    IUNMMBOHFO64
    IFBE
    UJUMF.ZGBWPSJUFCPPLUJUMF
    TUZMF
    CPEZ\DPMPSCMBDLCBDLHSPVOEXIJUF^
    FN\GPOUTUZMFOPSNBMDPMPSSFE^
    TUZMF
    IFBE
    CPEZ
    Q.ZFNGBWPSJUFFNCPPLPGBMMUJNFIBTFNHPUFNUPCF
    DJUF"$BUT-JGFDJUF*UJTBCPPLCZ13BINFMUIBUUBMLT
    BCPVUUIFJMBOHMB'FMJT$BUVTJJONPEFSOIVNBOTPDJFUZQ
    CPEZ
    IUNM

       /NSFCHA

    5IF MJOL Q BOE TUZMF Q FMFNFOUTDBOQSPWJEFTUZMJOHJOGPSNBUJPOGPSUIFVTFSBHFOUUPVTFXIFOSFOEFSJOHUIF


    EPDVNFOU5IF%0.4UZMJOHTQFDJИDBUJPOTQFDJИFTXIBUTUZMJOHJOGPSNBUJPOJTUPCFVTFECZUIFVTFSBHFOUBOEIPXJU
    JTUPCFVTFE <$440.> Q

    5IF TUZMF Q BOE MJOL Q FMFNFOUTJNQMFNFOUUIF -JOL4UZMF JOUFSGBDF <$440.> Q

    'PS TUZMF Q FMFNFOUT JGUIFVTFSBHFOUEPFTOPUTVQQPSUUIFTQFDJИFETUZMJOHMBOHVBHF UIFOUIF TIFFU BUUSJCVUFPG


    UIFFMFNFOUT -JOL4UZMF JOUFSGBDFNVTUSFUVSOOVMM4JNJMBSMZ MJOL Q FMFNFOUTUIBUEPOPUSFQSFTFOU FYUFSOBM
    SFTPVSDFMJOLTUIBUDPOUSJCVUFUPUIFTUZMJOHQSPDFTTJOHNPEFM Q JFUIBUEPOPUIBWFB TUZMFTIFFU Q LFZXPSEJO
    UIFJS SFM Q BUUSJCVUF
    BOE MJOL Q FMFNFOUTXIPTFTQFDJИFESFTPVSDFIBTOPUZFUCFFOGFUDIFE PSJTOPUJOB
    TVQQPSUFETUZMJOHMBOHVBHF NVTUIBWFUIFJS -JOL4UZMF JOUFSGBDFT TIFFU BUUSJCVUFSFUVSOOVMM

    0UIFSXJTF UIF -JOL4UZMF JOUFSGBDFT TIFFU BUUSJCVUFNVTUSFUVSOB 4UZMF4IFFU PCKFDUXJUIUIFGPMMPXJOHQSPQFSUJFT


    <$440.> Q

    0B?MNSF?MB??NNSJ?
    5IFTUZMFTIFFUUZQFNVTUCFUIFTBNFBTUIFTUZMFTTQFDJИFEUZQF'PS TUZMF Q FMFNFOUT UIJTJTUIFTBNFBT
    UIF UZQF Q DPOUFOUBUUSJCVUFTWBMVF PS UFYUDTT JGUIBUJTPNJUUFE'PS MJOL Q FMFNFOUT UIJTJTUIF $POUFOU
    5ZQFNFUBEBUBPGUIFTQFDJИFESFTPVSDF Q 

    0B?MNSF?MB??NFI=;NCIH
    'PS MJOL Q FMFNFOUT UIFMPDBUJPONVTUCFUIFSFTVMUPG SFTPMWJOH Q UIF 63- Q HJWFOCZUIFFMFNFOUT ISFG Q
    DPOUFOUBUUSJCVUF SFMBUJWFUPUIFFMFNFOU PSUIFFNQUZTUSJOHJGUIBUGBJMT'PS TUZMF Q FMFNFOUT UIFSFJTOP
    MPDBUJPO

    0B?MNSF?MB??NG?>C;
    5IFNFEJBNVTUCFUIFTBNFBTUIFWBMVFPGUIFFMFNFOUT NFEJB DPOUFOUBUUSJCVUF PSUIFFNQUZTUSJOH JGUIF
    BUUSJCVUFJTPNJUUFE

    0B?MNSF?MB??NNCNF?
    5IFUJUMFNVTUCFUIFTBNFBTUIFWBMVFPGUIFFMFNFOUT UJUMF Q DPOUFOUBUUSJCVUF JGUIFBUUSJCVUFJTQSFTFOU
    BOEIBTBOPOFNQUZWBMVF*GUIFBUUSJCVUFJTBCTFOUPSJUTWBMVFJTUIFFNQUZTUSJOH UIFOUIFTUZMFTIFFUEPFT
    OPUIBWFBUJUMF JUJTUIFFNQUZTUSJOH
    5IFUJUMFJTVTFEGPSEFИOJOH BMUFSOBUJWFTUZMFTIFFUTFUT

    0B?MNSF?MB??N;FN?LH;N?^;A
    'PS MJOL Q FMFNFOUT USVFJG UIFMJOLJTBOBMUFSOBUJWFTUZMFTIFFU Q *OBMMPUIFSDBTFT GBMTF

    
    5IFTBNFPCKFDUNVTUCFSFUVSOFEFBDIUJNF

    5IF ?DN<=G@? *%-BUUSJCVUFPO MJOL Q BOE TUZMF Q FMFNFOUTNVTUSFUVSOGBMTFBOEEPOPUIJOHPOTFUUJOH JGUIF
    TIFFU BUUSJCVUFPGUIFJS -JOL4UZMF JOUFSGBDFJTOVMM0UIFSXJTF JUNVTUSFUVSOUIFWBMVFPGUIF 4UZMF4IFFU JOUFSGBDFT
    EJTBCMFE BUUSJCVUFPOHFUUJOH BOEGPSXBSEUIFOFXWBMVFUPUIBUTBNFBUUSJCVUFPOTFUUJOH

    5IFSVMFTGPSIBOEMJOHBMUFSOBUJWFTUZMFTIFFUTBSFEFИOFEJOUIF$44PCKFDUNPEFMTQFDJИDBUJPO <$440.> Q

    4UZMFTIFFUT XIFUIFSBEEFECZB MJOL Q FMFNFOU B TUZMF Q FMFNFOU BO  YNMTUZMFTIFFU 1* BO)551 -JOL
    IFBEFS PSTPNFPUIFSNFDIBOJTN IBWFB MNSF?MB??NL?;>S ЙBH XIJDIJTJOJUJBMMZVOTFU

    8IFOBTUZMFTIFFUJTSFBEZUPCFBQQMJFE JUT TUZMFTIFFUSFBEZ Q ЙBHNVTUCFTFU*GUIFTUZMFTIFFUSFGFSFODFEOP


    PUIFSSFTPVSDFT FHJUXBTBOJOUFSOBMTUZMFTIFFUHJWFOCZB TUZMF Q FMFNFOUXJUIOP !JNQPSU SVMFT
    UIFOUIFTUZMF
    SVMFTNVTUCFTZODISPOPVTMZNBEFBWBJMBCMFUPTDSJQUPUIFSXJTF UIFTUZMFSVMFTNVTUPOMZCFNBEFBWBJMBCMFUPTDSJQU
    PODFUIF FWFOUMPPQ Q SFBDIFTJUTVQEBUFUIFSFOEFSJOHTUFQ

    "TUZMFTIFFUJOUIFDPOUFYUPGUIF %PDVNFOU Q PGBO )5.-QBSTFS Q PS 9.-QBSTFS Q JTTBJEUPCF ;MNSF?MB??N
    <FI=ECHAM=LCJNM JGUIFFMFNFOUXBTDSFBUFECZUIBU %PDVNFOU Q TQBSTFS BOEUIFFMFNFOUJTFJUIFSB TUZMF Q
    FMFNFOUPSB MJOL Q FMFNFOUUIBUXBTBO FYUFSOBMSFTPVSDFMJOLUIBUDPOUSJCVUFTUPUIFTUZMJOHQSPDFTTJOHNPEFM Q
    XIFOUIFFMFNFOUXBTDSFBUFECZUIFQBSTFS BOEUIFFMFNFOUTTUZMFTIFFUXBTFOBCMFEXIFOUIFFMFNFOUXBT
    DSFBUFECZUIFQBSTFS BOEUIFFMFNFOUT TUZMFTIFFUSFBEZ Q ЙBHJTOPUZFUTFU BOE UIFMBTUUJNFUIF FWFOUMPPQ Q
    SFBDIFETUFQ UIFFMFNFOUXBT JOUIBU %PDVNFOU Q BOEUIFVTFSBHFOUIBTOUHJWFOVQPOUIBUQBSUJDVMBSTUZMFTIFFU
    ZFU"VTFSBHFOUNBZHJWFVQPOBTUZMFTIFFUBUBOZUJNF

      /=LCJNCHA

    4DSJQUTBMMPXBVUIPSTUPBEEJOUFSBDUJWJUZUPUIFJSEPDVNFOUT

    "VUIPSTBSFFODPVSBHFEUPVTFEFDMBSBUJWFBMUFSOBUJWFTUPTDSJQUJOHXIFSFQPTTJCMF BTEFDMBSBUJWFNFDIBOJTNTBSF
    PGUFONPSFNBJOUBJOBCMF BOENBOZVTFSTEJTBCMFTDSJQUJOH

    'PSFYBNQMF JOTUFBEPGVTJOHTDSJQUUPTIPXPSIJEFBTFDUJPOUPTIPXNPSFEFUBJMT UIF EFUBJMT Q FMFNFOU


    DPVMECFVTFE

    "VUIPSTBSFBMTPFODPVSBHFEUPNBLFUIFJSBQQMJDBUJPOTEFHSBEFHSBDFGVMMZJOUIFBCTFODFPGTDSJQUJOHTVQQPSU

    'PSFYBNQMF JGBOBVUIPSQSPWJEFTBMJOLJOBUBCMFIFBEFSUPEZOBNJDBMMZSFTPSUUIFUBCMF UIFMJOLDPVMEBMTPCF


    NBEFUPGVODUJPOXJUIPVUTDSJQUTCZSFRVFTUJOHUIFTPSUFEUBCMFGSPNUIFTFSWFS

       0B? N>MDKO ?F?G?HN

    ;N?AILC?M
    .FUBEBUBDPOUFOU Q 
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF NFUBEBUBDPOUFOU Q JTFYQFDUFE
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    *GUIFSFJTOP TSD Q BUUSJCVUF EFQFOETPOUIFWBMVFPGUIF UZQF Q BUUSJCVUF CVUNVTUNBUDI TDSJQUDPOUFOU
    SFTUSJDUJPOT Q 
    *GUIFSF 8B B TSD Q BUUSJCVUF UIFFMFNFOUNVTUCFFJUIFSFNQUZPSDPOUBJOPOMZ TDSJQUEPDVNFOUBUJPO Q UIBU
    BMTPNBUDIFT TDSJQUDPOUFOUSFTUSJDUJPOT Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    TSD Q
    BTZOD Q
    EFGFS Q
    UZQF Q
    DIBSTFU Q

    
    +)CHN?L@;=?

    JOUFSGBDF &2+*1>MDKO#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH TSD
    BUUSJCVUFCPPMFBO BTZOD
    BUUSJCVUFCPPMFBO EFGFS
    BUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH DIBSTFU
    BUUSJCVUF%0.4USJOH UFYU
    ^

    5IF TDSJQU Q FMFNFOUBMMPXTBVUIPSTUPJODMVEFEZOBNJDTDSJQUBOEEBUBCMPDLTJOUIFJSEPDVNFOUT5IFFMFNFOU


    EPFTOPU SFQSFTFOU Q DPOUFOUGPSUIFVTFS

    8IFOVTFEUPJODMVEFEZOBNJDTDSJQUT UIFTDSJQUTNBZFJUIFSCFFNCFEEFEJOMJOFPSNBZCFJNQPSUFEGSPNBO
    FYUFSOBMИMFVTJOHUIF TSD Q BUUSJCVUF*GUIFMBOHVBHFJTOPUUIBUEFTDSJCFECZUFYUKBWBTDSJQU UIFOUIF UZQF Q
    BUUSJCVUFNVTUCFQSFTFOU BTEFTDSJCFECFMPX

    8IFOVTFEUPJODMVEFEBUBCMPDLT BTPQQPTFEUPTDSJQUT
    UIFEBUBNVTUCFFNCFEEFEJOMJOF UIFGPSNBUPGUIFEBUB
    NVTUCFHJWFOVTJOHUIF UZQF Q BUUSJCVUF BOEUIF TSD Q BUUSJCVUFNVTUOPUCFTQFDJИFE

    5IF OTK@ BUUSJCVUFHJWFTUIFMBOHVBHFPGUIFTDSJQUPSGPSNBUPGUIFEBUB*GUIFBUUSJCVUFJTQSFTFOU JUTWBMVFNVTUCFB


    WBMJE.*.&UZQF Q 5IF DIBSTFU QBSBNFUFSNVTUOPUCFTQFDJИFE5IFEFGBVMU XIJDIJTVTFEJGUIFBUUSJCVUFJTBCTFOU
    JTUFYUKBWBTDSJQU

    5IF NM> BUUSJCVUF JGTQFDJИFE HJWFTUIFBEESFTTPGUIFFYUFSOBMTDSJQUSFTPVSDFUPVTF5IFWBMVFPGUIFBUUSJCVUFNVTU


    CFB WBMJEOPOFNQUZ63- Q JEFOUJGZJOHBTDSJQUSFTPVSDFPGUIFUZQFHJWFOCZUIF UZQF Q BUUSJCVUF JGUIFBUUSJCVUFJT
    QSFTFOU PSPGUIFUZQFUFYUKBWBTDSJQU JGUIFBUUSJCVUFJTBCTFOU"SFTPVSDFJTBTDSJQUSFTPVSDFPGBHJWFOUZQFJG
    UIBUUZQFJEFOUJИFTBTDSJQUJOHMBOHVBHFBOEUIFSFTPVSDFDPOGPSNTXJUIUIFSFRVJSFNFOUTPGUIBUMBOHVBHFT
    TQFDJИDBUJPO

    5IF >C<MN@O BUUSJCVUFHJWFTUIFDIBSBDUFSFODPEJOHPGUIFFYUFSOBMTDSJQUSFTPVSDF5IFBUUSJCVUFNVTUOPUCFTQFDJИFE


    JGUIF TSD Q BUUSJCVUFJTOPUQSFTFOU*GUIFBUUSJCVUFJTTFU JUTWBMVFNVTUCFBWBMJEDIBSBDUFSFODPEJOHOBNF NVTU
    CFBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIF QSFGFSSFE.*.&OBNF Q GPSUIBUFODPEJOH BOENVTUNBUDIUIFFODPEJOH
    HJWFOJOUIF DIBSTFU QBSBNFUFSPGUIF $POUFOU5ZQFNFUBEBUB Q PGUIFFYUFSOBMИMF JGBOZ <*"/"$)"34&5> Q

    5IF <NTI> BOE ?@A@M BUUSJCVUFTBSF CPPMFBOBUUSJCVUFT Q UIBUJOEJDBUFIPXUIFTDSJQUTIPVMECFFYFDVUFE5IF


    EFGFS Q BOE BTZOD Q BUUSJCVUFTNVTUOPUCFTQFDJИFEJGUIF TSD Q BUUSJCVUFJTOPUQSFTFOU

    5IFSFBSFUISFFQPTTJCMFNPEFTUIBUDBOCFTFMFDUFEVTJOHUIFTFBUUSJCVUFT*GUIF BTZOD Q BUUSJCVUFJTQSFTFOU UIFO


    UIFTDSJQUXJMMCFFYFDVUFEBTZODISPOPVTMZ BTTPPOBTJUJTBWBJMBCMF*GUIF BTZOD Q BUUSJCVUFJTOPUQSFTFOUCVUUIF
    EFGFS Q BUUSJCVUFJTQSFTFOU UIFOUIFTDSJQUJTFYFDVUFEXIFOUIFQBHFIBTИOJTIFEQBSTJOH*GOFJUIFSBUUSJCVUFJT
    QSFTFOU UIFOUIFTDSJQUJTGFUDIFEBOEFYFDVUFEJNNFEJBUFMZ CFGPSFUIFVTFSBHFOUDPOUJOVFTQBSTJOHUIFQBHF

    *HM> 0A>>Q:<MIKH<>LLBG@=>M:BEL?HKMA>L>:MMKB;NM>L:K> ?HKFHLMERABLMHKB<:EK>:LHGL


    LHF>PA:MGHG
    MKBOB:E BGOHEOBG@:GNF;>KH?:LI><MLH?$0)( 0A>BFIE>F>GM:MBHGK>JNBK>F>GML
    :K>MA>K>?HK>;RG><>LLBMRL<:MM>K>=MAKHN@AHNMMA>LI><B[<:MBHG 0A>:E@HKBMAFL;>EHPBGMABL
    L><MBHG=>L<KB;>MA><HK>H?MABLIKH<>LLBG@ ;NMMA>L>:E@HKBMAFLK>?>K>G<>:G=:K>K>?>K>G<>=
    ;RMA>I:KLBG@KNE>L?HK L<KBIM I LM:KM I :G= >G= I M:@LBG$0)( BG?HK>B@G<HGM>GM I :G= BG
    4)( I MA>KNE>L?HKMA> =H<NF>GM PKBM> I F>MAH= MA>A:G=EBG@H? L<KBIMBG@ I >M<

    5IF EFGFS Q BUUSJCVUFNBZCFTQFDJИFEFWFOJGUIF BTZOD Q BUUSJCVUFJTTQFDJИFE UPDBVTFMFHBDZ8FCCSPXTFSTUIBU


    POMZTVQQPSU EFGFS Q BOEOPU BTZOD Q
    UPGBMMCBDLUPUIF EFGFS Q CFIBWJPSJOTUFBEPGUIFTZODISPOPVTCMPDLJOH
    CFIBWJPSUIBUJTUIFEFGBVMU

    $IBOHJOHUIF TSD Q UZQF Q DIBSTFU Q BTZOD Q BOE EFGFS Q BUUSJCVUFTEZOBNJDBMMZIBTOPEJSFDUFЗFDUUIFTF
    BUUSJCVUFBSFPOMZVTFEBUTQFDJИDUJNFTEFTDSJCFECFMPX

    " TDSJQU Q FMFNFOUIBTTFWFSBMBTTPDJBUFEQJFDFTPGTUBUF

    5IFИSTUJTBЙBHJOEJDBUJOHXIFUIFSPSOPUUIFTDSJQUCMPDLIBTCFFO ;FL?;>SMN;LN?>*OJUJBMMZ TDSJQU Q FMFNFOUT


    NVTUIBWFUIJTЙBHVOTFU TDSJQUCMPDLT XIFODSFBUFE BSFOPUBMSFBEZTUBSUFE
    8IFOB TDSJQU Q FMFNFOUJT
    DMPOFE UIFBMSFBEZTUBSUFEЙBH JGTFU NVTUCFQSPQBHBUFEUPUIFDMPOFXIFOJUJTDSFBUFE

    
    5IFTFDPOEJTBЙBHJOEJDBUJOHXIFUIFSUIFFMFNFOUXBT J;LM?L CHM?LN?>*OJUJBMMZ TDSJQU Q FMFNFOUTNVTUIBWF
    UIJTЙBHVOTFU*UJTTFUCZUIF )5.-QBSTFS Q BOEUIF 9.-QBSTFS Q PO TDSJQU Q FMFNFOUTUIFZJOTFSUBOEBЗFDUT
    UIFQSPDFTTJOHPGUIPTFFMFNFOUT

    5IFUIJSEJTBЙBHJOEJDBUJOHXIFUIFSPSOPUUIFTDSJQUCMPDLJT L?;>SNI<?J;LM?L ?R?=ON?>*OJUJBMMZ TDSJQU Q


    FMFNFOUTNVTUIBWFUIJTЙBHVOTFU TDSJQUCMPDLT XIFODSFBUFE BSFOPUSFBEZUPCFQBSTFSFYFDVUFE
    5IJTЙBHJT
    VTFEPOMZGPSFMFNFOUTUIBUBSFBMTP QBSTFSJOTFSUFE Q UPMFUUIFQBSTFSLOPXXIFOUPFYFDVUFUIFTDSJQU

    5IFGPVSUIBOEИGUIQJFDFTPGTUBUFBSF MA>L<KBIM;EH<DLMRI> BOE MA>L<KBIM;EH<DL<A:K:<M>K>G<H=BG@5IFZ


    BSFEFUFSNJOFEXIFOUIFTDSJQUJTSVO CBTFEPOUIFBUUSJCVUFTPOUIFFMFNFOUBUUIBUUJNF

    8IFOB TDSJQU Q FMFNFOUUIBUJTOFJUIFSNBSLFEBTIBWJOH BMSFBEZTUBSUFE Q OPSNBSLFEBTCFJOH QBSTFS


    JOTFSUFE Q FYQFSJFODFTPOFPGUIFFWFOUTMJTUFEJOUIFGPMMPXJOHMJTU UIFVTFSBHFOUNVTUTZODISPOPVTMZ SVO Q UIF
    TDSJQU Q FMFNFOU

    Ǭ 5IF TDSJQU Q FMFNFOUHFUT JOTFSUFEJOUPBEPDVNFOU Q 

    Ǭ 5IF TDSJQU Q FMFNFOUJT JOB %PDVNFOU Q BOEJUTDIJMEOPEFTBSFDIBOHFE

    Ǭ 5IF TDSJQU Q FMFNFOUJT JOB %PDVNFOU Q BOEIBTB TSD Q BUUSJCVUFTFUXIFSFQSFWJPVTMZUIFFMFNFOUIBE
    OPTVDIBUUSJCVUF

    .OHHCHA;M=LCJN8IFOB TDSJQU Q FMFNFOUJTUPCFSVO UIFVTFSBHFOUNVTUBDUBTGPMMPXT

     *GFJUIFS

    Ǭ UIF TDSJQU Q FMFNFOUIBTB UZQF Q BUUSJCVUFBOEJUTWBMVFJTUIFFNQUZTUSJOH PS


    Ǭ UIF TDSJQU Q FMFNFOUIBTOP UZQF Q BUUSJCVUFCVUJUIBTB MBOHVBHF Q BUUSJCVUFBOE C70C
    BUUSJCVUFTWBMVFJTUIFFNQUZTUSJOH PS
    Ǭ UIF TDSJQU Q FMFNFOUIBTOFJUIFSB UZQF Q BUUSJCVUFOPSB MBOHVBHF Q BUUSJCVUF UIFO

    MFU C74B2A8?C1;>2:BCH?4 ?  GPSUIJT TDSJQU Q FMFNFOUCFUFYUKBWBTDSJQU

    0UIFSXJTF JGUIF TDSJQU Q FMFNFOUIBTB UZQF Q BUUSJCVUF MFU C74B2A8?C1;>2:BCH?4 ?  GPSUIJT TDSJQU Q
    FMFNFOUCFUIFWBMVFPGUIBUBUUSJCVUFXJUIBOZMFBEJOHPSUSBJMJOHTFRVFODFTPG TQBDFDIBSBDUFST Q
    SFNPWFE

    0UIFSXJTF UIFFMFNFOUIBTBOPOFNQUZ MBOHVBHF Q BUUSJCVUFMFU C74B2A8?C1;>2:BCH?4 ?  GPSUIJT


    TDSJQU Q FMFNFOUCFUIFDPODBUFOBUJPOPGUIFTUSJOHUFYUGPMMPXFECZUIFWBMVFPGUIF MBOHVBHF Q
    BUUSJCVUF

    *HM> 0A> E:G@N:@> I :MMKB;NM>BLG>O>K<HG?HKFBG@ :G=BL:EP:RLB@GHK>=B?MA>K>BL:


    MRI> I :MMKB;NM>IK>L>GM

     *GUIF TDSJQU Q FMFNFOUIBTB DIBSTFU Q BUUSJCVUF UIFOMFU C74B2A8?C1;>2:B270A02C4A4=2>38=6 ?  GPS
    UIJT TDSJQU Q FMFNFOUCFUIFFODPEJOHHJWFOCZUIF DIBSTFU Q BUUSJCVUF

    0UIFSXJTF MFU C74B2A8?C1;>2:B270A02C4A4=2>38=6 ?  GPSUIJT TDSJQU Q FMFNFOUCFUIFTBNFBT UIF


    FODPEJOHPGUIFEPDVNFOUJUTFMG Q 

     *GUIF TDSJQU Q FMFNFOUIBTBO FWFOU Q BUUSJCVUFBOEB GPS Q BUUSJCVUF UIFOSVOUIFTFTVCTUFQT

     -FU 5>A CFUIFWBMVFPGUIF GPS Q BUUSJCVUF

     -FU 4E4=C CFUIFWBMVFPGUIF FWFOU Q BUUSJCVUF

     4USJQMFBEJOHBOEUSBJMJOHXIJUFTQBDF Q GSPN 4E4=C BOE 5>A

     *G 5>A JTOPUBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHXJOEPX UIFOUIFVTFSBHFOUNVTU


    BCPSUUIFTFTUFQTBUUIJTQPJOU5IFTDSJQUJTOPUFYFDVUFE

     *G 4E4=C JTOPUBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSFJUIFSUIFTUSJOHPOMPBEPSUIFTUSJOH


    POMPBE
     UIFOUIFVTFSBHFOUNVTUBCPSUUIFTFTUFQTBUUIJTQPJOU5IFTDSJQUJTOPUFYFDVUFE

     *G TDSJQUJOHJTEJTBCMFE Q GPSUIF TDSJQU Q FMFNFOU PSJGUIFVTFSBHFOUEPFTOPU TVQQPSUUIFTDSJQUJOH


    MBOHVBHF Q HJWFOCZ C74B2A8?C1;>2:BCH?4 ?  GPSUIJT TDSJQU Q FMFNFOU UIFOUIFVTFSBHFOUNVTUBCPSU
    UIFTFTUFQTBUUIJTQPJOU5IFTDSJQUJTOPUFYFDVUFE

     *GUIFFMFNFOUIBTOP TSD Q BUUSJCVUF BOEJUTDIJMEOPEFTDPOTJTUPOMZPGDPNNFOUOPEFTBOEFNQUZ UFYU


    OPEFT Q UIFOUIFVTFSBHFOUNVTUBCPSUUIFTFTUFQTBUUIJTQPJOU5IFTDSJQUJTOPUFYFDVUFE

    
     5IFVTFSBHFOUNVTUTFUUIFFMFNFOUT BMSFBEZTUBSUFE Q ЙBH

     *GUIFFMFNFOUIBTB TSD Q BUUSJCVUFXIPTFWBMVFJTOPUUIFFNQUZTUSJOH UIFOUIFWBMVFPGUIBUBUUSJCVUF


    NVTUCF SFTPMWFE Q SFMBUJWFUPUIFFMFNFOU BOEJGUIBUJTTVDDFTTGVM UIFTQFDJИFESFTPVSDFNVTUUIFOCF
    GFUDIFE Q GSPNUIF PSJHJO Q PGUIFFMFNFOUT %PDVNFOU Q 

    *GUIF TSD Q BUUSJCVUFTWBMVFJTUIFFNQUZTUSJOHPSJGJUDPVMEOPUCFSFTPMWFE UIFOUIFVTFSBHFOUNVTU


    RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FSSPS BUUIFFMFNFOU BOEBCPSUUIFTFTUFQT

    'PSIJTUPSJDBMSFBTPOT JGUIF 63- Q JTB KBWBTDSJQU 63- Q UIFOUIFVTFSBHFOUNVTUOPU EFTQJUFUIF
    SFRVJSFNFOUTJOUIFEFИOJUJPOPGUIF GFUDIJOH Q BMHPSJUIN BDUVBMMZFYFDVUFUIFTDSJQUJOUIF63-JOTUFBEUIF
    VTFSBHFOUNVTUBDUBTJGJUIBESFDFJWFEBOFNQUZ)551SFTQPOTF

    0ODFUIFSFTPVSDFT $POUFOU5ZQFNFUBEBUB Q JTBWBJMBCMF JGJUFWFSJT BQQMZUIF BMHPSJUINGPSFYUSBDUJOHBO


    FODPEJOHGSPNB$POUFOU5ZQF Q UPJU*GUIJTSFUVSOTBOFODPEJOH BOEUIFVTFSBHFOUTVQQPSUTUIBU
    FODPEJOH UIFOMFU C74B2A8?C1;>2:B270A02C4A4=2>38=6 ?  CFUIBUFODPEJOH

    'PSQFSGPSNBODFSFBTPOT VTFSBHFOUTNBZTUBSUGFUDIJOHUIFTDSJQUBTTPPOBTUIFBUUSJCVUFJTTFU JOTUFBE JO


    UIFIPQFUIBUUIFFMFNFOUXJMMCFJOTFSUFEJOUPUIFEPDVNFOU&JUIFSXBZ PODFUIFFMFNFOUJT JOTFSUFEJOUP
    UIFEPDVNFOU Q UIFMPBENVTUIBWFTUBSUFE*GUIF6"QFSGPSNTTVDIQSFGFUDIJOH CVUUIFFMFNFOUJTOFWFS
    JOTFSUFEJOUIFEPDVNFOU PSUIF TSD Q BUUSJCVUFJTEZOBNJDBMMZDIBOHFE UIFOUIFVTFSBHFOUXJMMOPU
    FYFDVUFUIFTDSJQU BOEUIFGFUDIJOHQSPDFTTXJMMIBWFCFFOFЗFDUJWFMZXBTUFE

     5IFO UIFИSTUPGUIFGPMMPXJOHPQUJPOTUIBUEFTDSJCFTUIFTJUVBUJPONVTUCFGPMMPXFE
    K
    X %@NB??F?G?HNB;M; NM> ;NNLC<ON?
    ;H>NB??F?G?HNB;M; ?@A@M K ;NNLC<ON?
    ;H>NB?
    ?F?G?HNB;M<??H^;AA?>;M J;LM?L CHM?LN?> J
    ;H>NB??F?G?HN>I?MHINB;P?;H
    <NTI> K ;NNLC<ON?
    5IFFMFNFOUNVTUCFBEEFEUPUIFFOEPGUIF FCMNI@M=LCJNMNB;NQCFF?R?=ON?QB?HNB?
    >I=OG?HNB;M]HCMB?>J;LMCHA

    5IF UBTL Q UIBUUIF OFUXPSLJOHUBTLTPVSDF Q QMBDFTPOUIF UBTLRVFVF Q PODFUIF GFUDIJOH
    BMHPSJUIN Q IBTDPNQMFUFENVTUTFUUIFFMFNFOUT SFBEZUPCFQBSTFSFYFDVUFE Q ЙBH5IF
    QBSTFSXJMMIBOEMFFYFDVUJOHUIFTDSJQU
    K
    X %@NB??F?G?HNB;M; NM> ;NNLC<ON?
    ;H>NB??F?G?HNB;M<??H^;AA?>;M J;LM?L
    CHM?LN?> J
    ;H>NB??F?G?HN>I?MHINB;P?;H <NTI> K ;NNLC<ON?
    5IFFMFNFOUJTUIF QFOEJOHQBSTJOHCMPDLJOHTDSJQU Q  5IFSFDBOPOMZCFPOFTVDITDSJQUBUB
    UJNF

    5IF UBTL Q UIBUUIF OFUXPSLJOHUBTLTPVSDF Q QMBDFTPOUIF UBTLRVFVF Q PODFUIF GFUDIJOH
    BMHPSJUIN Q IBTDPNQMFUFENVTUTFUUIFFMFNFOUT SFBEZUPCFQBSTFSFYFDVUFE Q ЙBH5IF
    QBSTFSXJMMIBOEMFFYFDVUJOHUIFTDSJQU
    K
    X %@NB??F?G?HN>I?MHINB;P?; NM> ;NNLC<ON?
    <ONNB?L?CM ;MNSF?MB??N<FI=ECHA
    J
    M=LCJNM
    ;H>NB??F?G?HNB;M<??H^;AA?>;M J;LM?L CHM?LN?> J
    5IFFMFNFOUJTUIF QFOEJOHQBSTJOHCMPDLJOHTDSJQU Q  5IFSFDBOPOMZCFPOFTVDITDSJQUBUB
    UJNF

    4FUUIFFMFNFOUT SFBEZUPCFQBSTFSFYFDVUFE Q ЙBH5IFQBSTFSXJMMIBOEMFFYFDVUJOHUIF


    TDSJQU
    K
    X %@NB??F?G?HNB;M; NM> ;NNLC<ON?
    5IFFMFNFOUNVTUCFBEEFEUPUIF M?NI@M=LCJNMNB;NQCFF?R?=ON?;MMIIH;MJIMMC<F?

    5IF UBTL Q UIBUUIF OFUXPSLJOHUBTLTPVSDF Q QMBDFTPOUIF UBTLRVFVF Q PODFUIF GFUDIJOH
    BMHPSJUIN Q IBTDPNQMFUFENVTU FYFDVUFUIFTDSJQUCMPDL Q BOEUIFOSFNPWFUIFFMFNFOUGSPN
    UIF TFUPGTDSJQUTUIBUXJMMFYFDVUFBTTPPOBTQPTTJCMF Q 

    X +NB?LQCM?
    5IFVTFSBHFOUNVTUJNNFEJBUFMZ FYFDVUFUIFTDSJQUCMPDL Q FWFOJGPUIFSTDSJQUTBSFBMSFBEZ
    FYFDVUJOH

    'FUDIJOHBOFYUFSOBMTDSJQUNVTU EFMBZUIFMPBEFWFOU Q PGUIFFMFNFOUTEPDVNFOUVOUJMUIF UBTL Q UIBUJT


    RVFVFE Q CZUIF OFUXPSLJOHUBTLTPVSDF Q PODFUIFSFTPVSDFIBTCFFO GFUDIFE Q EFИOFEBCPWF
    IBTCFFOSVO

    5IF J?H>CHAJ;LMCHA <FI=ECHAM=LCJN JTVTFECZUIFQBSTFS

    
    !R?=ONCHA;M=LCJN<FI=E8IFOUIFTUFQTBCPWFSFRVJSFUIBUUIFTDSJQUCMPDLCFFYFDVUFE UIFVTFSBHFOUNVTUBDU
    BTGPMMPXT

    X %@NB?FI;>L?MOFN?>CH;H?LLIL@IL?R;GJF?; */?LLIL
    IL;H$00,?LLIL
    &YFDVUJOHUIFTDSJQUCMPDLNVTUKVTUDPOTJTUPG ИSJOHBTJNQMFFWFOU Q OBNFE FSSPS BUUIFFMFNFOU

    X %@NB?FI;>Q;MMO==?MM@OF

     *OJUJBMJ[F MA>L<KBIM;EH<DLLHNK<> BTGPMMPXT


    I
    X %@NB?M=LCJNCM@LIG;H?RN?LH;F]F?;H> MA>L<KBIM;EH<DLMRI> CM;N?RN <;M?>
    F;HAO;A?
    5IFDPOUFOUTPGUIBUИMF JOUFSQSFUFEBTTUSJOHPG6OJDPEFDIBSBDUFST BSFUIFTDSJQU
    TPVSDF

    'PSFBDIPGUIFSPXTJOUIFGPMMPXJOHUBCMF TUBSUJOHXJUIUIFИSTUPOFBOEHPJOHEPXO JG


    UIFИMFIBTBTNBOZPSNPSFCZUFTBWBJMBCMFUIBOUIFOVNCFSPGCZUFTJOUIFИSTUDPMVNO
    BOEUIFИSTUCZUFTPGUIFИMFNBUDIUIFCZUFTHJWFOJOUIFИSTUDPMVNO UIFOTFU C74B2A8?C
    1;>2:B270A02C4A4=2>38=6 ?  UPUIFFODPEJOHHJWFOJOUIFDFMMJOUIFTFDPOEDPMVNOPG
    UIBUSPX JSSFTQFDUJWFPGBOZQSFWJPVTWBMVF

    SN?MCH$?R;>?=CG;F !H=I>CHA

    '&'' 65'#&
    '''& 65'-&
    &'###' 65'

    *HM> 0ABLLM>IEHHDL?HK1GB<H=>RM>+K=>K):KDL+)L

    5IFИMFNVTUUIFOCFDPOWFSUFEUP6OJDPEFVTJOHUIFDIBSBDUFSFODPEJOHHJWFOCZ C74
    B2A8?C1;>2:B270A02C4A4=2>38=6 ?  
    I
    X %@NB?M=LCJNCM@LIG;H?RN?LH;F]F?;H> MA>L<KBIM;EH<DLMRI> CM;H4)( <;M?>
    F;HAO;A?
    5IFFYUFSOBMИMFJTUIFTDSJQUTPVSDF8IFOJUJTMBUFSFYFDVUFE JUNVTUCFJOUFSQSFUFEJOB
    NBOOFSDPOTJTUFOUXJUIUIFTQFDJИDBUJPOEFИOJOHUIFMBOHVBHFHJWFOCZ C74B2A8?C1;>2:B
    CH?4 ?  
    I
    X %@NB?M=LCJNCMCHFCH?;H> MA>L<KBIM;EH<DLMRI> CM;N?RN <;M?>F;HAO;A?
    5IFWBMVFPGUIF UFYU Q *%-BUUSJCVUFBUUIFUJNFUIFFMFNFOUT BMSFBEZTUBSUFE Q ЙBH
    XBTTFUJTUIFTDSJQUTPVSDF
    I
    X %@NB?M=LCJNCMCHFCH?;H> MA>L<KBIM;EH<DLMRI> CM;H4)( <;M?>F;HAO;A?
    Q
    5IFDIJMEOPEFTPGUIF TDSJQU FMFNFOUBUUIFUJNFUIFFMFNFOUT BMSFBEZTUBSUFE Q
    ЙBHXBTTFUBSFUIFTDSJQUTPVSDF

     $SFBUFBTDSJQU Q GSPNUIF TDSJQU Q FMFNFOUOPEF VTJOH C74B2A8?C1;>2:BB>DA24 ?  BOE C74
    B2A8?C1;>2:BCH?4 ?  

    *HM> 0ABLBLPA>K>MA>L<KBIMBL<HFIBE>=:G=:<MN:EER>Q><NM>=

     *GUIFTDSJQUJTGSPNBOFYUFSOBMИMF ИSFBTJNQMFFWFOU Q OBNFE MPBE BUUIF TDSJQU Q FMFNFOU

    0UIFSXJTF UIFTDSJQUJTJOUFSOBM RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BUUIF


    TDSJQU Q FMFNFOU

    5IF*%-BUUSJCVUFT NM> OTK@ >C<MN@O <NTI> BOE ?@A@M FBDINVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIF
    TBNFOBNF

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    L<KBIM O@SO K 7 O:EN> 8
    3FUVSOTUIFDPOUFOUTPGUIFFMFNFOU JHOPSJOHDIJMEOPEFTUIBUBSFOU UFYUOPEFT Q 
    $BOCFTFU UPSFQMBDFUIFFMFNFOUTDIJMESFOXJUIUIFHJWFOWBMVF

    
    5IF*%-BUUSJCVUF O@SO NVTUSFUVSOBDPODBUFOBUJPOPGUIFDPOUFOUTPGBMMUIF UFYUOPEFT Q UIBUBSFEJSFDUDIJMESFOPG
    UIF TDSJQU Q FMFNFOU JHOPSJOHBOZPUIFSOPEFTTVDIBTDPNNFOUTPSFMFNFOUT
    JOUSFFPSEFS0OTFUUJOH JUNVTU
    BDUUIFTBNFXBZBTUIF UFYU$POUFOU Q *%-BUUSJCVUF

    *HM> 3A>GBGL>KM>=NLBG@MA> =H<NF>GM PKBM> I F>MAH= L<KBIM I >E>F>GML>Q><NM>MRIB<:EER


    LRG<AKHGHNLER ;NMPA>GBGL>KM>=NLBG@ BGG>K'2+* I :G= HNM>K'2+* I :MMKB;NM>L MA>R=HGHM
    >Q><NM>:M:EE

    *OUIJTFYBNQMF UXP TDSJQU Q FMFNFOUTBSFVTFE0OFFNCFETBOFYUFSOBMTDSJQU BOEUIFPUIFSJODMVEFTTPNF


    EBUB

    TDSJQUTSDHBNFFOHJOFKTTDSJQU
    TDSJQUUZQFUFYUYHBNFNBQ
    6F
    P"F
    """"F
    """""""""F
    TDSJQU

    5IFEBUBJOUIJTDBTFNJHIUCFVTFECZUIFTDSJQUUPHFOFSBUFUIFNBQPGBWJEFPHBNF5IFEBUBEPFTOUIBWF
    UPCFVTFEUIBUXBZ UIPVHINBZCFUIFNBQEBUBJTBDUVBMMZFNCFEEFEJOPUIFSQBSUTPGUIFQBHFTNBSLVQ
    BOEUIFEBUBCMPDLIFSFJTKVTUVTFECZUIFTJUFTTFBSDIFOHJOFUPIFMQVTFSTXIPBSFMPPLJOHGPSQBSUJDVMBS
    GFBUVSFTJOUIFJSHBNFNBQT

    5IFGPMMPXJOHTBNQMFTIPXTIPXBTDSJQUFMFNFOUDBOCFVTFEUPEFИOFBGVODUJPOUIBUJTUIFOVTFECZPUIFS
    QBSUTPGUIFEPDVNFOU*UBMTPTIPXTIPXB TDSJQU Q FMFNFOUDBOCFVTFEUPJOWPLFTDSJQUXIJMFUIFEPDVNFOU
    JTCFJOHQBSTFE JOUIJTDBTFUPJOJUJBMJ[FUIFGPSNTPVUQVU

    TDSJQU
    GVODUJPODBMDVMBUF GPSN
    \
    WBSQSJDF
    JG GPSNFMFNFOUTCSBLFTDIFDLFE

    QSJDF 
    JG GPSNFMFNFOUTSBEJPDIFDLFE

    QSJDF 
    JG GPSNFMFNFOUTUVSCPDIFDLFE

    QSJDF 
    JG GPSNFMFNFOUTTUJDLFSDIFDLFE

    QSJDF 
    GPSNFMFNFOUTSFTVMUWBMVFQSJDF
    ^
    TDSJQU
    GPSNOBNFQSJDFDBMDPOTVCNJUSFUVSOGBMTF
    GJFMETFU
    MFHFOE8PSLPVUUIFQSJDFPGZPVSDBSMFHFOE
    Q#BTFDPTU`Q
    Q4FMFDUBEEJUJPOBMPQUJPOTQ
    VM
    MJMBCFMJOQVUUZQFDIFDLCPYOBNFCSBLFT$FSBNJDCSBLFT `
    MBCFMMJ
    MJMBCFMJOQVUUZQFDIFDLCPYOBNFSBEJP4BUFMMJUFSBEJP `
    MBCFMMJ
    MJMBCFMJOQVUUZQFDIFDLCPYOBNFUVSCP5VSCPDIBSHFS `
    MBCFMMJ
    MJMBCFMJOQVUUZQFDIFDLCPYOBNFTUJDLFS9;TUJDLFS `
    MBCFMMJ
    VM
    Q5PUBM`PVUQVUOBNFSFTVMUPOGPSNDIBOHFDBMDVMBUF GPSN
    PVUQVUQ
    GJFMETFU
    TDSJQU
    EPDVNFOUGPSNTQSJDFDBMDEJTQBUDI'PSN$IBOHF
    
    TDSJQU
    GPSN

        /=LCJNCHAF;HAO;A?M

    "VTFSBHFOUJTTBJEUP MOJJILNNB?M=LCJNCHAF;HAO;A? JG C74B2A8?C1;>2:BCH?4 ?  JTBO "4$**DBTFJOTFOTJUJWF Q


    NBUDIGPSUIF .*.&UZQF Q TUSJOHPGBTDSJQUJOHMBOHVBHFUIBUUIFVTFSBHFOUJNQMFNFOUT

    5IFGPMMPXJOHMJTUTTPNF .*.&UZQF Q TUSJOHTBOEUIFMBOHVBHFTUPXIJDIUIFZSFGFS

    
    <KKGD><ODJI@>H<N>MDKO
    <KKGD><ODJIE<Q<N>MDKO
    <KKGD><ODJIS @>H<N>MDKO
    <KKGD><ODJIS E<Q<N>MDKO
    O@SO@>H<N>MDKO
    O@SOE<Q<N>MDKO
    O@SOE<Q<N>MDKO 
    O@SOE<Q<N>MDKO 
    O@SOE<Q<N>MDKO 
    O@SOE<Q<N>MDKO 
    O@SOE<Q<N>MDKO 
    O@SOE<Q<N>MDKO 
    O@SOEN>MDKO
    O@SOGDQ@N>MDKO
    O@SOS @>H<N>MDKO
    O@SOS E<Q<N>MDKO
    +BWB4DSJQU <&$."> Q

    O@SOE<Q<N>MDKO@S
    +BWB4DSJQUXJUI&$."4DSJQUGPS9.- <&$."> Q

    6TFSBHFOUTNBZTVQQPSUPUIFS .*.&UZQFT Q BOEPUIFSMBOHVBHFT

    8IFOFYBNJOJOHUZQFTUPEFUFSNJOFJGUIFZTVQQPSUUIFMBOHVBHF VTFSBHFOUTNVTUOPUJHOPSFVOLOPXO.*.&
    QBSBNFUFSTǡUZQFTXJUIVOLOPXOQBSBNFUFSTNVTUCFBTTVNFEUPCFVOTVQQPSUFE5IF DIBSTFU QBSBNFUFSNVTUCF
    USFBUFEBTBOVOLOPXOQBSBNFUFSGPSUIFQVSQPTFPGDPNQBSJOH .*.&UZQFT Q IFSF

        .?MNLC=NCIHM@IL=IHN?HNMI@ N>MDKO ?F?G?HNM

    5IF UFYU$POUFOU Q PGB TDSJQU Q FMFNFOUNVTUNBUDIUIF TDSJQU QSPEVDUJPOJOUIFGPMMPXJOH"#/' UIFDIBSBDUFS
    TFUGPSXIJDIJT6OJDPEF <"#/'> Q

    TDSJQUEBUB FTDBQF<TDSJQUTUBSUEBUB>EBUB
    <FTDBQF>
    FTDBQFEBUB TDSJQUTUBSUEBUBTDSJQUFOEEBUB

    EBUBBOZTUSJOHUIBUEPFTOUDPOUBJOBTVCTUSJOHUIBUNBUDIFTOPUEBUB
    OPUEBUB

    EBUBBOZTUSJOHUIBUEPFTOUDPOUBJOBTVCTUSJOHUIBUNBUDIFTOPUEBUB
    OPUEBUBTDSJQUTUBSU

    EBUBBOZTUSJOHUIBUEPFTOUDPOUBJOBTVCTUSJOHUIBUNBUDIFTOPUEBUB
    OPUEBUBTDSJQUFOE

    TDSJQUTUBSUMUTDSJQUUBHFOE
    TDSJQUFOEMUTMBTITDSJQUUBHFOE

    MUY$6 $-&445)"/4*(/DIBSBDUFS 

    TMBTIY'6 '40-*%64DIBSBDUFS 

    TY6 -"5*/$"1*5"--&55&34
    TY6 -"5*/4."---&55&34
    DY6 -"5*/$"1*5"--&55&3$
    DY6 -"5*/4."---&55&3$
    SY6 -"5*/$"1*5"--&55&33
    SY6 -"5*/4."---&55&33
    JY6 -"5*/$"1*5"--&55&3*
    JY6 -"5*/4."---&55&3*
    QY6 -"5*/$"1*5"--&55&31
    QY6 -"5*/4."---&55&31
    UY6 -"5*/$"1*5"--&55&35
    UY6 -"5*/4."---&55&35

    
    UBHFOEY6 $)"3"$5&35"#6-"5*0/
    UBHFOEY"6 "-*/&'&&% -'

    UBHFOEY$6 $'03.'&&% ''

    UBHFOEY6 41"$&
    UBHFOEY'6 '40-*%64 

    UBHFOEY&6 &(3&"5&35)"/4*(/ 

    8IFOB TDSJQU Q FMFNFOUDPOUBJOT TDSJQUEPDVNFOUBUJPO Q UIFSFBSFGVSUIFSSFTUSJDUJPOTPOUIFDPOUFOUTPGUIF


    FMFNFOU BTEFTDSJCFEJOUIFTFDUJPOCFMPX

        %HFCH?>I=OG?HN;NCIH@IL?RN?LH;FM=LCJNM

    *GB TDSJQU Q FMFNFOUT TSD Q BUUSJCVUFJTTQFDJИFE UIFOUIFDPOUFOUTPGUIF TDSJQU Q FMFNFOU JGBOZ NVTUCF
    TVDIUIBUUIFWBMVFPGUIF UFYU Q *%-BUUSJCVUF XIJDIJTEFSJWFEGSPNUIFFMFNFOUTDPOUFOUT NBUDIFTUIF
    EPDVNFOUBUJPO QSPEVDUJPOJOUIFGPMMPXJOH"#/' UIFDIBSBDUFSTFUGPSXIJDIJT6OJDPEF <"#/'> Q

    EPDVNFOUBUJPO  TQBDFUBCDPNNFOU
    <MJOFDPNNFOU>OFXMJOF

    DPNNFOUTMBTITUBS OPUTUBSTUBSOPUTMBTI
     TUBSTMBTI
    MJOFDPNNFOUTMBTITMBTI OPUOFXMJOF

    DIBSBDUFST
    UBCY6 5"#
    OFXMJOFY"6 "-*/&'&&% -'

    TQBDFY6 41"$&
    TUBSY"6 ""45&3*4,

    TMBTIY'6 '40-*%64 

    OPUOFXMJOFYY#''''
    B6OJDPEFDIBSBDUFSPUIFSUIBO6 "-*/&'&&% -'

    OPUTUBSYY#''''
    B6OJDPEFDIBSBDUFSPUIFSUIBO6 ""45&3*4,

    OPUTMBTIY&Y''''
    B6OJDPEFDIBSBDUFSPUIFSUIBO6 '40-*%64 

    *HM> 0ABL<HKK>LIHG=LMHINMMBG@MA><HGM>GMLH?MA>>E>F>GMBG&:O:/<KBIM<HFF>GML

    *HM> 0ABLK>JNBK>F>GMBLBG:==BMBHGMHMA>>:KEB>KK>LMKB<MBHGLHGMA>LRGM:QH?<HGM>GMLH?
    L<KBIM I >E>F>GML

    5IJTBMMPXTBVUIPSTUPJODMVEFEPDVNFOUBUJPO TVDIBTMJDFOTFJOGPSNBUJPOPS"1*JOGPSNBUJPO JOTJEFUIFJS


    EPDVNFOUTXIJMFTUJMMSFGFSSJOHUPFYUFSOBMTDSJQUИMFT5IFTZOUBYJTDPOTUSBJOFETPUIBUBVUIPSTEPOU
    BDDJEFOUBMMZJODMVEFXIBUMPPLTMJLFWBMJETDSJQUXIJMFBMTPQSPWJEJOHB TSD Q BUUSJCVUF

    TDSJQUTSDDPPMFGGFDUTKT
    DSFBUFOFXJOTUBODFTVTJOH
    WBSFOFX&GGFDU
    
    TUBSUUIFFGGFDUVTJOHQMBZ TUPQVTJOHTUPQ
    FQMBZ
    
    FTUPQ
    
    TDSJQU

       0B? IJN>MDKO ?F?G?HN

    ;N?AILC?M
    .FUBEBUBDPOUFOU Q 
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    *OB IFBE Q FMFNFOUPGBO )5.-EPDVNFOU Q JGUIFSFBSFOPBODFTUPS OPTDSJQU Q FMFNFOUT
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFEJO )5.-EPDVNFOUT Q JGUIFSFBSFOPBODFTUPS OPTDSJQU Q
    FMFNFOUT

    
    IHN?HNGI>?F
    8IFO TDSJQUJOHJTEJTBCMFE Q JOB IFBE Q FMFNFOUJOBOZPSEFS [FSPPSNPSF MJOL Q FMFNFOUT [FSPPS
    NPSF TUZMF Q FMFNFOUT BOE[FSPPSNPSF NFUB Q FMFNFOUT
    8IFO TDSJQUJOHJTEJTBCMFE Q OPUJOB IFBE Q FMFNFOU USBOTQBSFOU Q CVUUIFSFNVTUCFOP OPTDSJQU Q
    FMFNFOUEFTDFOEBOUT
    0UIFSXJTFUFYUUIBUDPOGPSNTUPUIFSFRVJSFNFOUTHJWFOJOUIFQSPTF

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF OPTDSJQU Q FMFNFOU SFQSFTFOUT Q OPUIJOHJG TDSJQUJOHJTFOBCMFE Q BOE SFQSFTFOUT Q JUTDIJMESFOJG TDSJQUJOHJT
    EJTBCMFE Q *UJTVTFEUPQSFTFOUEJЗFSFOUNBSLVQUPVTFSBHFOUTUIBUTVQQPSUTDSJQUJOHBOEUIPTFUIBUEPOUTVQQPSU
    TDSJQUJOH CZBЗFDUJOHIPXUIFEPDVNFOUJTQBSTFE

    8IFOVTFEJO )5.-EPDVNFOUT Q UIFBMMPXFEDPOUFOUNPEFMJTBTGPMMPXT

    %H; C@<? K ?F?G?HN


    C@ M=LCJNCHACM>CM;<F?> J @ILNB? IJN>MDKO K ?F?G?HN
    5IF OPTDSJQU Q FMFNFOUNVTUDPOUBJOPOMZ MJOL Q TUZMF Q BOE NFUB Q FMFNFOUT

    %H; C@<? K ?F?G?HN


    C@ M=LCJNCHACM?H;<F?> J @ILNB? IJN>MDKO K ?F?G?HN
    5IF OPTDSJQU Q FMFNFOUNVTUDPOUBJOPOMZUFYU FYDFQUUIBUJOWPLJOHUIF )5.-GSBHNFOUQBSTJOHBMHPSJUIN Q
    XJUIUIF OPTDSJQU Q FMFNFOUBTUIF 2>=C4GC FMFNFOUBOEUIFUFYUDPOUFOUTBTUIF 8=?DC NVTUSFTVMUJOBMJTUPG
    OPEFTUIBUDPOTJTUTPOMZPG MJOL Q TUZMF Q BOE NFUB Q FMFNFOUTUIBUXPVMECFDPOGPSNJOHJGUIFZXFSF
    DIJMESFOPGUIF OPTDSJQU Q FMFNFOU BOEOP QBSTFFSSPST Q 

    +ONMC>?I@ C@<? K ?F?G?HNM


    C@ M=LCJNCHACM>CM;<F?> J @ILNB? IJN>MDKO K ?F?G?HN
    5IF OPTDSJQU Q FMFNFOUTDPOUFOUNPEFMJT USBOTQBSFOU Q XJUIUIFBEEJUJPOBMSFTUSJDUJPOUIBUB OPTDSJQU Q
    FMFNFOUNVTUOPUIBWFB OPTDSJQU Q FMFNFOUBTBOBODFTUPS UIBUJT OPTDSJQU Q DBOUCFOFTUFE
    

    +ONMC>?I@ C@<? K ?F?G?HNM


    C@ M=LCJNCHACM?H;<F?> J @ILNB? IJN>MDKO K ?F?G?HN
    5IF OPTDSJQU Q FMFNFOUNVTUDPOUBJOPOMZUFYU FYDFQUUIBUUIFUFYUNVTUCFTVDIUIBUSVOOJOHUIFGPMMPXJOH
    BMHPSJUINSFTVMUTJOBDPOGPSNJOHEPDVNFOUXJUIOP OPTDSJQU Q FMFNFOUTBOEOP TDSJQU Q FMFNFOUT BOE
    TVDIUIBUOPTUFQJOUIFBMHPSJUINDBVTFTBO )5.-QBSTFS Q UPЙBHB QBSTFFSSPS Q 

     3FNPWFFWFSZ TDSJQU Q FMFNFOUGSPNUIFEPDVNFOU

     .BLFBMJTUPGFWFSZ OPTDSJQU Q FMFNFOUJOUIFEPDVNFOU'PSFWFSZ OPTDSJQU Q FMFNFOUJOUIBUMJTU


    QFSGPSNUIFGPMMPXJOHTUFQT

     -FUUIF ?0A4=C4;4<4=C CFUIFQBSFOUFMFNFOUPGUIF OPTDSJQU Q FMFNFOU

     5BLFBMMUIFDIJMESFOPGUIF ?0A4=C4;4<4=C UIBUDPNFCFGPSFUIF OPTDSJQU Q FMFNFOU BOE


    DBMMUIFTFFMFNFOUT C74145>A4278;3A4=

     5BLFBMMUIFDIJMESFOPGUIF ?0A4=C4;4<4=C UIBUDPNF 05C4A UIF OPTDSJQU Q FMFNFOU BOE


    DBMMUIFTFFMFNFOUT C7405C4A278;3A4=

     -FU B CFUIFDPODBUFOBUJPOPGBMMUIF UFYUOPEF Q DIJMESFOPGUIF OPTDSJQU Q FMFNFOU

     4FUUIF JOOFS)5.- Q BUUSJCVUFPGUIF ?0A4=C4;4<4=C UPUIFWBMVFPG B 5IJT BTBTJEFFЗFDU


    DBVTFTUIF OPTDSJQU Q FMFNFOUUPCFSFNPWFEGSPNUIFEPDVNFOU

     *OTFSU C74145>A4278;3A4= BUUIFTUBSUPGUIF ?0A4=C4;4<4=C QSFTFSWJOHUIFJSPSJHJOBMSFMBUJWF


    PSEFS

     *OTFSU C7405C4A278;3A4= BUUIFFOEPGUIF ?0A4=C4;4<4=C QSFTFSWJOHUIFJSPSJHJOBMSFMBUJWF


    PSEFS

    *HM> EEMA>L><HGMHKMBHGL:K>K>JNBK>=;><:NL> ?HKABLMHKB<:EK>:LHGL MA> GHL<KBIM I >E>F>GM


    BLA:G=E>==BZ>K>GMER;RMA> $0)(I:KL>K I ;:L>=HGPA>MA>K L<KBIMBG@P:L>G:;E>=HKGHM I
    PA>GMA>I:KL>KP:LBGOHD>=

    
    5IF OPTDSJQU Q FMFNFOUNVTUOPUCFVTFEJO 9.-EPDVNFOUT Q 

    *HM> 0A> GHL<KBIM I >E>F>GMBLHGER>Z><MBO>BG MA>$0)(LRGM:Q I BMA:LGH>Z><MBG MA>


    4$0)(LRGM:Q I

    5IF OPTDSJQU Q FMFNFOUIBTOPPUIFSSFRVJSFNFOUT*OQBSUJDVMBS DIJMESFOPGUIF OPTDSJQU Q FMFNFOUBSFOPU


    FYFNQUGSPN GPSNTVCNJTTJPO Q TDSJQUJOH BOETPGPSUI FWFOXIFO TDSJQUJOHJTFOBCMFE Q GPSUIFFMFNFOU

    *OUIFGPMMPXJOHFYBNQMF B OPTDSJQU Q FMFNFOUJTVTFEUPQSPWJEFGBMMCBDLGPSBTDSJQU

    GPSNBDUJPODBMD4RVBSFQIQ
    Q
    MBCFMGPSY/VNCFSMBCFM
    JOQVUJEYOBNFYUZQFOVNCFS
    Q
    TDSJQU
    WBSYEPDVNFOUHFU&MFNFOU#Z*E Y
    
    WBSPVUQVUEPDVNFOUDSFBUF&MFNFOU Q
    
    PVUQVUUFYU$POUFOU5ZQFBOVNCFSJUXJMMCFTRVBSFESJHIUUIFO
    YGPSNBQQFOE$IJME PVUQVU
    
    YGPSNPOTVCNJUGVODUJPO
    \SFUVSOGBMTF^
    YPOJOQVUGVODUJPO
    \
    WBSWYWBMVF"T/VNCFS
    PVUQVUUFYU$POUFOUW TRVBSFEJT W W
    ^
    TDSJQU
    OPTDSJQU
    JOQVUUZQFTVCNJUWBMVF$BMDVMBUF4RVBSF
    OPTDSJQU
    GPSN

    8IFOTDSJQUJTEJTBCMFE BCVUUPOBQQFBSTUPEPUIFDBMDVMBUJPOPOUIFTFSWFSTJEF8IFOTDSJQUJTFOBCMFE UIF


    WBMVFJTDPNQVUFEPOUIFЙZJOTUFBE

    5IF OPTDSJQU Q FMFNFOUJTBCMVOUJOTUSVNFOU4PNFUJNFT TDSJQUTNJHIUCFFOBCMFE CVUGPSTPNFSFBTPOUIF


    QBHFTTDSJQUNJHIUGBJM'PSUIJTSFBTPO JUTHFOFSBMMZCFUUFSUPBWPJEVTJOH OPTDSJQU Q BOEUPJOTUFBEEFTJHO
    UIFTDSJQUUPDIBOHFUIFQBHFGSPNCFJOHBTDSJQUMFTTQBHFUPBTDSJQUFEQBHFPOUIFЙZ BTJOUIFOFYUFYBNQMF

    GPSNBDUJPODBMD4RVBSFQIQ
    Q
    MBCFMGPSY/VNCFSMBCFM
    JOQVUJEYOBNFYUZQFOVNCFS
    Q
    DIKPOD?NP=HDOOTK@NP=HDOQ<GP@!<G>PG<O@1LP<M@
    TDSJQU
    WBSYEPDVNFOUHFU&MFNFOU#Z*E Y
    
    WBSPVUQVUEPDVNFOUDSFBUF&MFNFOU Q
    
    PVUQVUUFYU$POUFOU5ZQFBOVNCFSJUXJMMCFTRVBSFESJHIUUIFO
    YGPSNBQQFOE$IJME PVUQVU
    
    YGPSNPOTVCNJUGVODUJPO
    \SFUVSOGBMTF^
    YPOJOQVUGVODUJPO
    \
    WBSWYWBMVF"T/VNCFS
    PVUQVUUFYU$POUFOUW TRVBSFEJT W W
    ^
    Q<MNP=HDO?J>PH@IO B@O#G@H@IO T'?NP=HDO
    NP=HDO K<M@IO,J?@ M@HJQ@!CDG?NP=HDO
    TDSJQU
    GPSN

    5IFBCPWFUFDIOJRVFJTBMTPVTFGVMJO9)5.- TJODF OPTDSJQU Q JTOPUTVQQPSUFEJO UIF9)5.-TZOUBY Q 

      /?=NCIHM

       0B? =J?T ?F?G?HN

    
    ;N?AILC?M
    4FDUJPOJOHSPPU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TUIFTFDPOEFMFNFOUJOBO IUNM Q FMFNFOU

    IHN?HNGI>?F
    'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    POBGUFSQSJOU Q
    POCFGPSFQSJOU Q
    POCFGPSFVOMPBE Q
    POCMVS Q
    POFSSPS Q
    POGPDVT Q
    POIBTIDIBOHF Q
    POMPBE Q
    PONFTTBHF Q
    POPGGMJOF Q
    POPOMJOF Q
    POQBHFIJEF Q
    POQBHFTIPX Q
    POQPQTUBUF Q
    POSFEP Q
    POSFTJ[F Q
    POTUPSBHF Q
    POVOEP Q
    POVOMPBE Q

    +)CHN?L@;=?

    JOUFSGBDF &2+* J?T#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF 'VODUJPO POBGUFSQSJOU
    BUUSJCVUF 'VODUJPO POCFGPSFQSJOU
    BUUSJCVUF 'VODUJPO POCFGPSFVOMPBE
    BUUSJCVUF 'VODUJPO POCMVS
    BUUSJCVUF 'VODUJPO POFSSPS
    BUUSJCVUF 'VODUJPO POGPDVT
    BUUSJCVUF 'VODUJPO POIBTIDIBOHF
    BUUSJCVUF 'VODUJPO POMPBE
    BUUSJCVUF 'VODUJPO PONFTTBHF
    BUUSJCVUF 'VODUJPO POPGGMJOF
    BUUSJCVUF 'VODUJPO POPOMJOF
    BUUSJCVUF 'VODUJPO POQPQTUBUF
    BUUSJCVUF 'VODUJPO POQBHFIJEF
    BUUSJCVUF 'VODUJPO POQBHFTIPX
    BUUSJCVUF 'VODUJPO POSFEP
    BUUSJCVUF 'VODUJPO POSFTJ[F
    BUUSJCVUF 'VODUJPO POTUPSBHF
    BUUSJCVUF 'VODUJPO POVOEP
    BUUSJCVUF 'VODUJPO POVOMPBE
    ^

    5IF CPEZ Q FMFNFOU SFQSFTFOUT Q UIFNBJODPOUFOUPGUIFEPDVNFOU

    *ODPOGPSNJOHEPDVNFOUT UIFSFJTPOMZPOF CPEZ Q FMFNFOU5IF EPDVNFOUCPEZ Q *%-BUUSJCVUFQSPWJEFTTDSJQUTXJUI


    FBTZBDDFTTUPBEPDVNFOUT CPEZ Q FMFNFOU

    
    *HM> /HF> +)HI>K:MBHGL?HK>Q:FIE> I:KMLH?MA> =K:@:G==KHI I FH=>E:K>=>[G>=BG
    M>KFLH?MA>;H=R>E>F>GM I  0ABLK>?>KLMH:I:KMB<NE:K>E>F>GMBGMA> +) :LI>KMA>
    =>[GBMBHGH?MA>M>KF :G=GHM:GR:K;BMK:KR ;H=R I >E>F>GM

    5IF CPEZ Q FMFNFOUFYQPTFTBT FWFOUIBOEMFSDPOUFOUBUUSJCVUFT Q BOVNCFSPGUIF FWFOUIBOEMFST Q PGUIF
    8JOEPX Q PCKFDU*UBMTPNJSSPSTUIFJS FWFOUIBOEMFS*%-BUUSJCVUFT Q 

    5IF POCMVS Q POFSSPS Q POGPDVT Q BOE POMPBE Q FWFOUIBOEMFST Q PGUIF 8JOEPX Q PCKFDU FYQPTFEPOUIF
    CPEZ Q FMFNFOU TIBEPXUIFHFOFSJD FWFOUIBOEMFST Q XJUIUIFTBNFOBNFTOPSNBMMZTVQQPSUFECZ )5.-
    FMFNFOUT Q 

    5IVT GPSFYBNQMF BCVCCMJOH FSSPS FWFOUИSFEPOBDIJMEPG UIFCPEZFMFNFOU Q PGB %PDVNFOU Q XPVMEИSTU
    USJHHFSUIF POFSSPS Q FWFOUIBOEMFSDPOUFOUBUUSJCVUFT Q PGUIBUFMFNFOU UIFOUIBUPGUIFSPPU IUNM Q
    FMFNFOU BOEPOMZ C74= XPVMEJUUSJHHFSUIF POFSSPS Q FWFOUIBOEMFSDPOUFOUBUUSJCVUF Q POUIF CPEZ Q
    FMFNFOU5IJTJTCFDBVTFUIFFWFOUXPVMECVCCMFGSPNUIFUBSHFU UPUIF CPEZ Q UPUIF IUNM Q UPUIF
    %PDVNFOU Q UPUIF 8JOEPX Q BOEUIF FWFOUIBOEMFS Q POUIF CPEZ Q JTXBUDIJOHUIF 8JOEPX Q OPUUIF
    CPEZ Q "SFHVMBSFWFOUMJTUFOFSBUUBDIFEUPUIF CPEZ Q VTJOH BEE&WFOU-JTUFOFS
    IPXFWFS XPVMEИSFXIFO
    UIFFWFOUCVCCMFEUISPVHIUIF CPEZ Q BOEOPUXIFOJUSFBDIFTUIF 8JOEPX Q PCKFDU

    5IJTQBHFVQEBUFTBOJOEJDBUPSUPTIPXXIFUIFSPSOPUUIFVTFSJTPOMJOF

    %0$5:1&)5.-
    IUNM
    IFBE
    UJUMF0OMJOFPSPGGMJOF UJUMF
    TDSJQU
    GVODUJPOVQEBUF POMJOF
    \
    EPDVNFOUHFU&MFNFOU#Z*E TUBUVT
    UFYU$POUFOU
    POMJOF 0OMJOF0GGMJOF
    ^
    TDSJQU
    IFBE
    CPEZPOPOMJOFVQEBUF USVF
    
    POPGGMJOFVQEBUF GBMTF
    
    POMPBEVQEBUF OBWJHBUPSPO-JOF
    
    Q:PVBSFTQBOJETUBUVT 6OLOPXO
    TQBOQ
    CPEZ
    IUNM

       0B? N@>ODJI ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    4FDUJPOJOHDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF TFDUJPO Q FMFNFOU SFQSFTFOUT Q BHFOFSJDEPDVNFOUPSBQQMJDBUJPOTFDUJPO"TFDUJPO JOUIJTDPOUFYU JTB


    UIFNBUJDHSPVQJOHPGDPOUFOU UZQJDBMMZXJUIBIFBEJOH

    &YBNQMFTPGTFDUJPOTXPVMECFDIBQUFST UIFWBSJPVTUBCCFEQBHFTJOBUBCCFEEJBMPHCPY PSUIFOVNCFSFE


    TFDUJPOTPGBUIFTJT"8FCTJUFTIPNFQBHFDPVMECFTQMJUJOUPTFDUJPOTGPSBOJOUSPEVDUJPO OFXTJUFNT DPOUBDU
    JOGPSNBUJPO

    
    *HM> NMAHKL:K>>G<HNK:@>=MHNL>MA> :KMB<E> I >E>F>GMBGLM>:=H?MA> L><MBHG I >E>F>GM
    PA>GBMPHNE=F:D>L>GL>MHLRG=B<:M>MA><HGM>GMLH?MA>>E>F>GM

    *HM> 0A> L><MBHG I >E>F>GMBLGHM:@>G>KB<<HGM:BG>K>E>F>GM 3A>G:G>E>F>GMBLG>>=>=?HK


    LMREBG@INKIHL>LHK:L:<HGO>GB>G<>?HKL<KBIMBG@ :NMAHKL:K>>G<HNK:@>=MHNL>MA> =BO I
    >E>F>GMBGLM>:= @>G>K:EKNE>BLMA:MMA> L><MBHG I >E>F>GMBL:IIKHIKB:M>HGERB?MA>>E>F>GML
    <HGM>GMLPHNE=;>EBLM>=>QIEB<BMERBGMA>=H<NF>GML HNMEBG> I

    *OUIFGPMMPXJOHFYBNQMF XFTFFBOBSUJDMF QBSUPGBMBSHFS8FCQBHF


    BCPVUBQQMFT DPOUBJOJOHUXPTIPSU
    TFDUJPOT

    BSUJDMF
    IHSPVQ
    I"QQMFTI
    I5BTUZ EFMJDJPVTGSVJUI
    IHSPVQ
    Q5IFBQQMFJTUIFQPNBDFPVTGSVJUPGUIFBQQMFUSFFQ
    TFDUJPO
    I3FE%FMJDJPVTI
    Q5IFTFCSJHIUSFEBQQMFTBSFUIFNPTUDPNNPOGPVOEJONBOZ
    TVQFSNBSLFUTQ
    TFDUJPO
    TFDUJPO
    I(SBOOZ4NJUII
    Q5IFTFKVJDZ HSFFOBQQMFTNBLFBHSFBUGJMMJOHGPS
    BQQMFQJFTQ
    TFDUJPO
    BSUJDMF

    /PUJDFIPXUIFVTFPG TFDUJPO Q NFBOTUIBUUIFBVUIPSDBOVTF I Q FMFNFOUTUISPVHIPVU XJUIPVUIBWJOHUP


    XPSSZBCPVUXIFUIFSBQBSUJDVMBSTFDUJPOJTBUUIFUPQMFWFM UIFTFDPOEMFWFM UIFUIJSEMFWFM BOETPPO

    )FSFJTBHSBEVBUJPOQSPHSBNNFXJUIUXPTFDUJPOT POFGPSUIFMJTUPGQFPQMFHSBEVBUJOH BOEPOFGPSUIF


    EFTDSJQUJPOPGUIFDFSFNPOZ

    %0$5:1&)UNM
    )UNM
    )FBE
    5JUMF
    (SBEVBUJPO$FSFNPOZ4VNNFS5JUMF
    )FBE
    #PEZ
    )
    (SBEVBUJPO)
    4FDUJPO
    )
    $FSFNPOZ)
    1
    0QFOJOH1SPDFTTJPO1
    1
    4QFFDICZ7BMJEBDUPSJBO1
    1
    4QFFDICZ$MBTT1SFTJEFOU1
    1
    1SFTFOUBUJPOPG%JQMPNBT1
    1
    $MPTJOH4QFFDICZ)FBENBTUFS1
    4FDUJPO
    4FDUJPO
    )
    (SBEVBUFT)
    6M
    -J
    .PMMZ$BSQFOUFS-J
    -J
    "OBTUBTJB-VDDJP-J

    
    -J
    &CFOF[BS.D$PZ-J
    -J
    ,BSSJO.VSQIZ-J
    -J
    5IPNBT3BJUI-J
    -J
    4VTBO3PESJHVF[-J
    6M
    4FDUJPO
    #PEZ
    )UNM

       0B? I<Q ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    4FDUJPOJOHDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF OBW Q FMFNFOU SFQSFTFOUT Q BTFDUJPOPGBQBHFUIBUMJOLTUPPUIFSQBHFTPSUPQBSUTXJUIJOUIFQBHFBTFDUJPO


    XJUIOBWJHBUJPOMJOLT

    /PUBMMHSPVQTPGMJOLTPOBQBHFOFFEUPCFJOB OBW Q FMFNFOUǡPOMZTFDUJPOTUIBUDPOTJTUPGNBKPSOBWJHBUJPO


    CMPDLTBSFBQQSPQSJBUFGPSUIF OBW Q FMFNFOU*OQBSUJDVMBS JUJTDPNNPOGPSGPPUFSTUPIBWFBTIPSUMJTUPGMJOLTUP
    WBSJPVTQBHFTPGBTJUF TVDIBTUIFUFSNTPGTFSWJDF UIFIPNFQBHF BOEBDPQZSJHIUQBHF5IF GPPUFS Q FMFNFOU
    BMPOFJTTVКDJFOUGPSTVDIDBTFT XJUIPVUB OBW Q FMFNFOU

    *HM> 1L>K:@>GMLLN<A:LL<K>>GK>:=>KLMA:M:K>M:K@>M>=:MNL>KLPAH<:G;>G>[M?KHF
    G:OB@:MBHGBG?HKF:MBHG;>BG@HFBMM>=BGMA>BGBMB:EK>G=>KBG@ HKPAH<:G;>G>[M?KHFG:OB@:MBHG
    BG?HKF:MBHG;>BG@BFF>=B:M>ER:O:BE:;E> <:GNL>MABL>E>F>GM:L:P:RMH=>M>KFBG>PA:M
    <HGM>GMHGMA>I:@>MHBGBMB:EERLDBI:G= HKIKHOB=>HGK>JN>LM

    *OUIFGPMMPXJOHFYBNQMF UIFQBHFIBTTFWFSBMQMBDFTXIFSFMJOLTBSFQSFTFOU CVUPOMZPOFPGUIPTFQMBDFTJT


    DPOTJEFSFEBOBWJHBUJPOTFDUJPO

    CPEZ
    IFBEFS
    I8BLFVQTIFFQMFI
    QBISFGOFXTIUNM/FXTB
    BISFGCMPHIUNM#MPHB
    BISFGGPSVNTIUNM'PSVNTBQ
    Q-BTU.PEJGJFEUJNFUJNFQ
    OBW
    I/BWJHBUJPOI
    VM
    MJBISFGBSUJDMFTIUNM*OEFYPGBMMBSUJDMFTBMJ
    MJBISFGUPEBZIUNM5IJOHTTIFFQMFOFFEUPXBLFVQGPSUPEBZBMJ
    MJBISFGTVDDFTTFTIUNM4IFFQMFXFIBWFNBOBHFEUPXBLFBMJ
    VM
    OBW
    IFBEFS
    EJW
    BSUJDMF

    
    IFBEFS
    I.Z%BZBUUIF#FBDII
    IFBEFS
    EJW
    Q5PEBZ*XFOUUPUIFCFBDIBOEIBEBMPUPGGVOQ
    HJM@>JIO@IO
    EJW
    GPPUFS
    Q1PTUFEUJNFQVCEBUFEBUFUJNF55IVSTEBZUJNFQ
    GPPUFS
    BSUJDMF
    HJM@=GJBKJNON
    EJW
    GPPUFS
    Q$PQZSJHIUa5IF&YBNQMF$PNQBOZQ
    QBISFGBCPVUIUNM"CPVUB
    BISFGQPMJDZIUNM1SJWBDZ1PMJDZB
    BISFGDPOUBDUIUNM$POUBDU6TBQ
    GPPUFS
    CPEZ

    /PUJDFUIF EJW Q FMFNFOUTCFJOHVTFEUPXSBQBMMUIFDPOUFOUTPGUIFQBHFPUIFSUIBOUIFIFBEFSBOEGPPUFS


    BOEBMMUIFDPOUFOUTPGUIFCMPHFOUSZPUIFSUIBOJUTIFBEFSBOEGPPUFS

    *OUIFGPMMPXJOHFYBNQMF UIFSFBSFUXP OBW Q FMFNFOUT POFGPSQSJNBSZOBWJHBUJPOBSPVOEUIFTJUF BOEPOF


    GPSTFDPOEBSZOBWJHBUJPOBSPVOEUIFQBHFJUTFMG

    CPEZ
    I5IF8JLJ$FOUFS0G&YBNQMBOEI
    OBW
    VM
    MJBISFG)PNFBMJ
    MJBISFGFWFOUT$VSSFOU&WFOUTBMJ
    HJM@
    VM
    OBW
    BSUJDMF
    IFBEFS
    I%FNPTJO&YBNQMBOEI
    Q8SJUUFOCZ"/0UIFSQ
    IFBEFS
    OBW
    VM
    MJBISFGQVCMJD1VCMJDEFNPOTUSBUJPOTBMJ
    MJBISFGEFTUSPZ%FNPMJUJPOTBMJ
    HJM@
    VM
    OBW
    EJW
    TFDUJPOJEQVCMJD
    I1VCMJDEFNPOTUSBUJPOTI
    Q HJM@ Q
    TFDUJPO
    TFDUJPOJEEFTUSPZ
    I%FNPMJUJPOTI
    Q HJM@ Q
    TFDUJPO
    HJM@
    EJW
    GPPUFS
    QBISFG FEJU&EJUB]BISFG EFMFUF%FMFUFB]B
    ISFG 3FOBNF3FOBNFBQ
    GPPUFS
    BSUJDMF
    GPPUFS
    QTNBMMaDPQZSJHIU&YBNQMBOE&NQFSPSTNBMMQ

    
    GPPUFS
    CPEZ

       0B? <MOD>G@ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    4FDUJPOJOHDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF BSUJDMF Q FMFNFOU SFQSFTFOUT Q BDPNQPOFOUPGBQBHFUIBUDPOTJTUTPGBTFMGDPOUBJOFEDPNQPTJUJPOJOB


    EPDVNFOU QBHF BQQMJDBUJPO PSTJUFBOEUIBUJTJOUFOEFEUPCFJOEFQFOEFOUMZEJTUSJCVUBCMFPSSFVTBCMF FHJO
    TZOEJDBUJPO5IJTDPVMECFBGPSVNQPTU BNBHB[JOFPSOFXTQBQFSBSUJDMF BCMPHFOUSZ BVTFSTVCNJUUFEDPNNFOU BO
    JOUFSBDUJWFXJEHFUPSHBEHFU PSBOZPUIFSJOEFQFOEFOUJUFNPGDPOUFOU

    8IFO BSUJDMF Q FMFNFOUTBSFOFTUFE UIFJOOFS BSUJDMF Q FMFNFOUTSFQSFTFOUBSUJDMFTUIBUBSFJOQSJODJQMFSFMBUFE


    UPUIFDPOUFOUTPGUIFPVUFSBSUJDMF'PSJOTUBODF BCMPHFOUSZPOBTJUFUIBUBDDFQUTVTFSTVCNJUUFEDPNNFOUTDPVME
    SFQSFTFOUUIFDPNNFOUTBT BSUJDMF Q FMFNFOUTOFTUFEXJUIJOUIF BSUJDMF Q FMFNFOUGPSUIFCMPHFOUSZ

    "VUIPSJOGPSNBUJPOBTTPDJBUFEXJUIBO BSUJDMF Q FMFNFOU RWUIF BEESFTT Q FMFNFOU


    EPFTOPUBQQMZUPOFTUFE
    BSUJDMF Q FMFNFOUT

    *HM> 3A>GNL>=LI><B[<:EERPBMA<HGM>GMMH;>K>=BLMKB;NM>=BGLRG=B<:MBHG MA> :KMB<E> I


    >E>F>GMBLLBFBE:KBGINKIHL>MHMA> >GMKR >E>F>GMBGMHF 70+)8 I

    *HM> 0A> MBF> I >E>F>GML IN;=:M> I :MMKB;NM><:G;>NL>=MHIKHOB=>MA>IN;EB<:MBHG=:M>?HK


    :G :KMB<E> I >E>F>GM

    5IJTFYBNQMFTIPXTBCMPHQPTUVTJOHUIF BSUJDMF Q FMFNFOU

    BSUJDMF
    IFBEFS
    I5IF7FSZ'JSTU3VMFPG-JGFI
    QUJNFQVCEBUFEBUFUJNF5UJNFQ
    IFBEFS
    Q*GUIFSFTBNJDSPQIPOFBOZXIFSFOFBSZPV BTTVNFJUTIPUBOE
    TFOEJOHXIBUFWFSZPVSFTBZJOHUPUIFXPSME4FSJPVTMZQ
    Q Q
    GPPUFS
    BISFG DPNNFOUT4IPXDPNNFOUTB
    GPPUFS
    BSUJDMF

    )FSFJTUIBUTBNFCMPHQPTU CVUTIPXJOHTPNFPGUIFDPNNFOUT

    BSUJDMF
    IFBEFS
    I5IF7FSZ'JSTU3VMFPG-JGFI
    QUJNFQVCEBUFEBUFUJNF5UJNFQ
    IFBEFS
    Q*GUIFSFTBNJDSPQIPOFBOZXIFSFOFBSZPV BTTVNFJUTIPUBOE
    TFOEJOHXIBUFWFSZPVSFTBZJOHUPUIFXPSME4FSJPVTMZQ
    Q Q
    TFDUJPO

    
    I$PNNFOUTI
    BSUJDMF
    GPPUFS
    Q1PTUFECZ(FPSHF8BTIJOHUPOQ
    QUJNFQVCEBUFEBUFUJNF5UJNFQ
    GPPUFS
    Q:FBI&TQFDJBMMZXIFOUBMLJOHBCPVUZPVSMPCCZJTUGSJFOETQ
    BSUJDMF
    BSUJDMF
    GPPUFS
    Q1PTUFECZ(FPSHF)BNNPOEQ
    QUJNFQVCEBUFEBUFUJNF5UJNFQ
    GPPUFS
    Q)FZ ZPVIBWFUIFTBNFGJSTUOBNFBTNFQ
    BSUJDMF
    TFDUJPO
    BSUJDMF

    /PUJDFUIFVTFPG GPPUFS Q UPHJWFUIFJOGPSNBUJPOFBDIDPNNFOU TVDIBTXIPXSPUFJUBOEXIFO


    UIF
    GPPUFS Q FMFNFOU 20= BQQFBSBUUIFTUBSUPGJUTTFDUJPOXIFOBQQSPQSJBUF TVDIBTJOUIJTDBTF 6TJOH
    IFBEFS Q JOUIJTDBTFXPVMEOUCFXSPOHFJUIFSJUTNPTUMZBNBUUFSPGBVUIPSJOHQSFGFSFODF

       0B? <ND?@ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    4FDUJPOJOHDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF BTJEF Q FMFNFOU SFQSFTFOUT Q BTFDUJPOPGBQBHFUIBUDPOTJTUTPGDPOUFOUUIBUJTUBOHFOUJBMMZSFMBUFEUPUIF


    DPOUFOUBSPVOEUIF BTJEF Q FMFNFOU BOEXIJDIDPVMECFDPOTJEFSFETFQBSBUFGSPNUIBUDPOUFOU4VDITFDUJPOTBSF
    PGUFOSFQSFTFOUFEBTTJEFCBSTJOQSJOUFEUZQPHSBQIZ

    5IFFMFNFOUDBOCFVTFEGPSUZQPHSBQIJDBMFЗFDUTMJLFQVMMRVPUFTPSTJEFCBST GPSBEWFSUJTJOH GPSHSPVQTPG OBW Q


    FMFNFOUT BOEGPSPUIFSDPOUFOUUIBUJTDPOTJEFSFETFQBSBUFGSPNUIFNBJODPOUFOUPGUIFQBHF

    *HM> %MLGHM:IIKHIKB:M>MHNL>MA> :LB=> I >E>F>GMCNLM?HKI:K>GMA>MB<:EL LBG<>MAHL>:K>I:KM


    H?MA>F:BG\HPH?MA>=H<NF>GM

    5IFGPMMPXJOHFYBNQMFTIPXTIPXBOBTJEFJTVTFEUPNBSLVQCBDLHSPVOENBUFSJBMPO4XJU[FSMBOEJOBNVDI
    MPOHFSOFXTTUPSZPO&VSPQF

    BTJEF
    I4XJU[FSMBOEI
    Q4XJU[FSMBOE BMBOEMPDLFEDPVOUSZJOUIFNJEEMFPGHFPHSBQIJD
    &VSPQF IBTOPUKPJOFEUIFHFPQPMJUJDBM&VSPQFBO6OJPO UIPVHIJUJT
    BTJHOBUPSZUPBOVNCFSPG&VSPQFBOUSFBUJFTQ
    BTJEF

    5IFGPMMPXJOHFYBNQMFTIPXTIPXBOBTJEFJTVTFEUPNBSLVQBQVMMRVPUFJOBMPOHFSBSUJDMF

    

    Q)FMBUFSKPJOFEBMBSHFDPNQBOZ DPOUJOVJOHPOUIFTBNFXPSL
    R*MPWFNZKPC1FPQMFBTLNFXIBU*EPGPSGVOXIFO*NOPUBU

    
    XPSL#VU*NQBJEUPEPNZIPCCZ TP*OFWFSLOPXXIBUUP
    BOTXFS4PNFQFPQMFXPOEFSXIBUUIFZXPVMEEPJGUIFZEJEOUIBWFUP
    XPSLCVU*LOPXXIBU*XPVMEEP CFDBVTF*XBTVOFNQMPZFEGPSB
    ZFBS BOE*GJMMFEUIBUUJNFEPJOHFYBDUMZXIBU*EPOPXRQ

    BTJEF
    R1FPQMFBTLNFXIBU*EPGPSGVOXIFO*NOPUBUXPSL#VU*N
    QBJEUPEPNZIPCCZ TP*OFWFSLOPXXIBUUPBOTXFSR
    BTJEF

    Q0GDPVSTFIJTXPSLzPSTIPVMEUIBUCFIPCCZ z
    JTOUIJTPOMZQBTTJPO)FBMTPFOKPZTPUIFSQMFBTVSFTQ

    

    5IFGPMMPXJOHFYUSBDUTIPXTIPX BTJEF Q DBOCFVTFEGPSCMPHSPMMTBOEPUIFSTJEFDPOUFOUPOBCMPH

    CPEZ
    IFBEFS
    I.ZXPOEFSGVMCMPHI
    Q.ZUBHMJOFQ
    IFBEFS
    BTJEF
     OCDN<ND?@>JIO<DINORJN@>ODJINOC<O<M@O<IB@IOD<GGTM@G<O@?
    OJOC@K<B@ I<H@GT GDIFNOJJOC@M=GJBN <I?GDIFNOJ=GJBKJNON
    AMJHOCDN=GJB 
    OBW
    I.ZCMPHSPMMI
    VM
    MJBISFGIUUQCMPHFYBNQMFDPN&YBNQMF#MPHB
    VM
    OBW
    OBW
    I"SDIJWFTI
    PMSFWFSTFE
    MJBISFGMBTUQPTU.ZMBTUQPTUB
    MJBISFGGJSTUQPTU.ZGJSTUQPTUB
    PM
    OBW
    BTJEF
    BTJEF
     OCDN<ND?@DNO<IB@IOD<GGTM@G<O@?OJOC@K<B@<GNJ DO
    >JIO<DINORDOO@MH@NN<B@NAMJHOC@=GJB<POCJM 
    I5XJUUFS'FFEI
    CMPDLRVPUFDJUFIUUQUXJUUFSFYBNQMFOFUU
    *NPOWBDBUJPO XSJUJOHNZCMPH
    CMPDLRVPUF
    CMPDLRVPUFDJUFIUUQUXJUUFSFYBNQMFOFUU
    *NHPJOHUPHPPOWBDBUJPOTPPO
    CMPDLRVPUF
    BTJEF
    BSUJDMF
     OCDNDN<=GJBKJNO 
    I.ZMBTUQPTUI
    Q5IJTJTNZMBTUQPTUQ
    GPPUFS
    QBISFGMBTUQPTUSFMCPPLNBSL1FSNBMJOLB
    GPPUFS
    BSUJDMF
    BSUJDMF
     OCDNDN<GNJ<=GJBKJNO 
    I.ZGJSTUQPTUI
    Q5IJTJTNZGJSTUQPTUQ
    BTJEF
     OCDN<ND?@DN<=JPOOC@=GJBKJNO NDI>@DONDIND?@OC@
    <MOD>G@@G@H@IODORJPG?=@RMJIB AJMDINO<I>@ OJKPOOC@
    =GJBMJGGC@M@ NDI>@OC@=GJBMJGGDNIOM@<GGTM@G<O@?OJOCDNKJNO

    
    NK@>DAD><GGT JIGTOJOC@K<B@<N<RCJG@ 
    I1PTUJOHI
    Q8IJMF*NUIJOLJOHBCPVUJU *XBOUFEUPTBZTPNFUIJOHBCPVU
    QPTUJOH1PTUJOHJTGVOQ
    BTJEF
    GPPUFS
    QBISFGGJSTUQPTUSFMCPPLNBSL1FSNBMJOLB
    GPPUFS
    BSUJDMF
    GPPUFS
    OBW
    BISFGBSDIJWFT"SDIJWFTBz
    BISFGBCPVU"CPVUNFBz
    BISFGDPQZSJHIU$PQZSJHIUB
    OBW
    GPPUFS
    CPEZ

       0B? C
    C
    C
    C
    C
    ;H> C ?F?G?HNM

    ;N?AILC?M
    'MPXDPOUFOU Q 
    )FBEJOHDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGBO IHSPVQ Q FMFNFOU
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*&@<?DIB#G@H@IO  )5.-&MFNFOU \^

    5IFTFFMFNFOUT SFQSFTFOU Q IFBEJOHTGPSUIFJSTFDUJPOT

    5IFTFNBOUJDTBOENFBOJOHPGUIFTFFMFNFOUTBSFEFИOFEJOUIFTFDUJPOPO IFBEJOHTBOETFDUJPOT Q 

    5IFTFFMFNFOUTIBWFB L;HE HJWFOCZUIFOVNCFSJOUIFJSOBNF5IF I Q FMFNFOUJTTBJEUPIBWFUIFIJHIFTUSBOL


    UIF I Q FMFNFOUIBTUIFMPXFTUSBOL BOEUXPFMFNFOUTXJUIUIFTBNFOBNFIBWFFRVBMSBOL

    5IFTFUXPTOJQQFUTBSFFRVJWBMFOU

    CPEZ
    I-FUTDBMMJUBESBX JOHTVSGBDF
    I
    I%JWJOHJOI
    I4JNQMFTIBQFTI
    I$BOWBTDPPSEJOBUFTI
    I$BOWBTDPPSEJOBUFTEJBHSBNI
    I1BUITI
    CPEZ
    CPEZ
    I-FUTDBMMJUBESBX JOHTVSGBDF
    I
    TFDUJPO
    I%JWJOHJOI
    TFDUJPO
    TFDUJPO
    I4JNQMFTIBQFTI
    TFDUJPO
    TFDUJPO
    I$BOWBTDPPSEJOBUFTI
    TFDUJPO

    
    I$BOWBTDPPSEJOBUFTEJBHSBNI
    TFDUJPO
    TFDUJPO
    TFDUJPO
    I1BUITI
    TFDUJPO
    CPEZ

       0B? CBMJPK ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    )FBEJOHDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    0OFPSNPSF I Q I Q I Q I Q I Q BOEPS I Q FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF IHSPVQ Q FMFNFOU SFQSFTFOUT Q UIFIFBEJOHPGBTFDUJPO5IFFMFNFOUJTVTFEUPHSPVQBTFUPG I Q ǠI Q
    FMFNFOUTXIFOUIFIFBEJOHIBTNVMUJQMFMFWFMT TVDIBTTVCIFBEJOHT BMUFSOBUJWFUJUMFT PSUBHMJOFT

    'PSUIFQVSQPTFTPGEPDVNFOUTVNNBSJFT PVUMJOFT BOEUIFMJLF UIFUFYUPG IHSPVQ Q FMFNFOUTJTEFИOFEUPCFUIF


    UFYUPGUIFIJHIFTU SBOLFE Q I Q ǠI Q FMFNFOUEFTDFOEBOUPGUIF IHSPVQ Q FMFNFOU JGUIFSFBSFBOZTVDI
    FMFNFOUT BOEUIFИSTUTVDIFMFNFOUJGUIFSFBSFNVMUJQMFFMFNFOUTXJUIUIBU SBOL Q *GUIFSFBSFOPTVDIFMFNFOUT
    UIFOUIFUFYUPGUIF IHSPVQ Q FMFNFOUJTUIFFNQUZTUSJOH

    0UIFSFMFNFOUTPG IFBEJOHDPOUFOU Q JOUIF IHSPVQ Q FMFNFOUJOEJDBUFTVCIFBEJOHTPSTVCUJUMFT

    5IF SBOL Q PGBO IHSPVQ Q FMFNFOUJTUIFSBOLPGUIFIJHIFTUSBOLFE I Q ǠI Q FMFNFOUEFTDFOEBOUPGUIF
    IHSPVQ Q FMFNFOU JGUIFSFBSFBOZTVDIFMFNFOUT PSPUIFSXJTFUIFTBNFBTGPSBO I Q FMFNFOU UIFIJHIFTUSBOL
    

    5IFTFDUJPOPO IFBEJOHTBOETFDUJPOT Q EFИOFTIPX IHSPVQ Q FMFNFOUTBSFBTTJHOFEUPJOEJWJEVBMTFDUJPOT

    )FSFBSFTPNFFYBNQMFTPGWBMJEIFBEJOHT*OFBDIDBTF UIFFNQIBTJ[FEUFYUSFQSFTFOUTUIFUFYUUIBUXPVMECF
    VTFEBTUIFIFBEJOHJOBOBQQMJDBUJPOFYUSBDUJOHIFBEJOHEBUBBOEJHOPSJOHTVCIFBEJOHT

    IHSPVQ
    I2C@M@<GDOT?TNAPI>ODJII
    I4QBDFJTOPUUIFPOMZWPJEI
    IHSPVQ
    IHSPVQ
    I"M 1OM<IB@GJQ@I
    I0S)PX*-FBSOFEUP4UPQ8PSSZJOHBOE-PWFUIF#PNCI
    IHSPVQ

    5IFQPJOUPGVTJOH IHSPVQ Q JOUIFTFFYBNQMFTJTUPNBTLUIF I Q FMFNFOU XIJDIBDUTBTBTFDPOEBSZUJUMF

    GSPNUIF PVUMJOF Q BMHPSJUIN

       0B? C@<?@M ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    
    IHN?HNGI>?F
    'MPXDPOUFOU Q CVUXJUIOP IFBEFS Q PS GPPUFS Q FMFNFOUEFTDFOEBOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF IFBEFS Q FMFNFOU SFQSFTFOUT Q BHSPVQPGJOUSPEVDUPSZPSOBWJHBUJPOBMBJET

    *HM>  A>:=>K I >E>F>GMBLBGM>G=>=MHNLN:EER<HGM:BGMA>L><MBHGLA>:=BG@:G A I VA I


    >E>F>GMHK:G A@KHNI I >E>F>GM ;NMMABLBLGHMK>JNBK>= 0A> A>:=>K I >E>F>GM<:G:ELH;>NL>=
    MHPK:I:L><MBHGLM:;E>H?<HGM>GML :L>:K<A?HKF HK:GRK>E>O:GMEH@HL

    )FSFBSFTPNFTBNQMFIFBEFST5IJTИSTUPOFJTGPSBHBNF

    IFBEFS
    Q8FMDPNFUPQ
    I7PJEXBSTI
    IFBEFS

    5IFGPMMPXJOHTOJQQFUTIPXTIPXUIFFMFNFOUDBOCFVTFEUPNBSLVQBTQFDJИDBUJPOTIFBEFS

    IFBEFS
    IHSPVQ
    I4DBMBCMF7FDUPS(SBQIJDT 47(
    I
    I8$8PSLJOH%SBGU0DUPCFSI
    IHSPVQ
    EM
    EU5IJTWFSTJPOEU
    EEBISFGIUUQXXXXPSH538%47(IUUQXXXXPSH53
    8%47(BEE
    EU1SFWJPVTWFSTJPOEU
    EEBISFGIUUQXXXXPSH538%47(IUUQXXXXPSH53
    8%47(BEE
    EU-BUFTUWFSTJPOPG47(EU
    EEBISFGIUUQXXXXPSH5347(IUUQXXXXPSH5347(BEE
    EU-BUFTU47(3FDPNNFOEBUJPOEU
    EEBISFGIUUQXXXXPSH5347(IUUQXXXXPSH5347(BEE
    EU&EJUPSEU
    EE%FBO+BDLTPO 8$ BISFGNBJMUPEFBO!XPSHEFBO!XPSHBEE
    EU"VUIPSTEU
    EE4FFBISFGBVUIPST"VUIPS-JTUBEE
    EM
    QDMBTTDPQZSJHIUBISFGIUUQXXXXPSH$POTPSUJVN-FHBMJQSOPUJD
    IFBEFS

    *HM> 0A> A>:=>K I >E>F>GMBLGHM L><MBHGBG@<HGM>GM I BM=H>LGMBGMKH=N<>:G>PL><MBHG

    *OUIJTFYBNQMF UIFQBHFIBTBQBHFIFBEJOHHJWFOCZUIF I Q FMFNFOU BOEUXPTVCTFDUJPOTXIPTFIFBEJOHT


    BSFHJWFOCZ I Q FMFNFOUT5IFDPOUFOUBGUFSUIF IFBEFS Q FMFNFOUJTTUJMMQBSUPGUIFMBTUTVCTFDUJPOTUBSUFE
    JOUIF IFBEFS Q FMFNFOU CFDBVTFUIF IFBEFS Q FMFNFOUEPFTOUUBLFQBSUJOUIF PVUMJOF Q BMHPSJUIN

    CPEZ
    IFBEFS
    I-JUUMF(SFFO(VZT8JUI(VOTI
    OBW
    VM
    MJBISFGHBNFT(BNFTB
    MJBISFGGPSVN'PSVNB
    MJBISFGEPXOMPBE%PXOMPBEB
    VM
    OBW
    I*NQPSUBOU/FXTIUIJTTUBSUTBTFDPOETVCTFDUJPO

    
    UIJTJTQBSUPGUIFTVCTFDUJPOFOUJUMFE*NQPSUBOU/FXT
    Q5PQMBZUPEBZTHBNFTZPVXJMMOFFEUPVQEBUFZPVSDMJFOUQ
    I(BNFTIUIJTTUBSUTBUIJSETVCTFDUJPO
    IFBEFS
    Q:PVIBWFUISFFBDUJWFHBNFTQ
    UIJTJTTUJMMQBSUPGUIFTVCTFDUJPOFOUJUMFE(BNFT
    

       0B? AJJO@M ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    'MPXDPOUFOU Q CVUXJUIOP IFBEFS Q PS GPPUFS Q FMFNFOUEFTDFOEBOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF GPPUFS Q FMFNFOU SFQSFTFOUT Q BGPPUFSGPSJUTOFBSFTUBODFTUPS TFDUJPOJOHDPOUFOU Q PS TFDUJPOJOHSPPU Q
    FMFNFOU"GPPUFSUZQJDBMMZDPOUBJOTJOGPSNBUJPOBCPVUJUTTFDUJPOTVDIBTXIPXSPUFJU MJOLTUPSFMBUFEEPDVNFOUT
    DPQZSJHIUEBUB BOEUIFMJLF

    *HM> HGM:<MBG?HKF:MBHG?HKMA>:NMAHKHK>=BMHKH?:L><MBHG;>EHG@LBG:G :==K>LL I >E>F>GM


    IHLLB;ERBML>E?BGLB=>: ?HHM>K I

    'PPUFSTEPOUOFDFTTBSJMZIBWFUPBQQFBSBUUIF 4=3 PGBTFDUJPO UIPVHIUIFZVTVBMMZEP

    8IFOUIF GPPUFS Q FMFNFOUDPOUBJOTFOUJSFTFDUJPOT UIFZ SFQSFTFOU Q BQQFOEJDFT JOEFYFT MPOHDPMPQIPOT
    WFSCPTFMJDFOTFBHSFFNFOUT BOEPUIFSTVDIDPOUFOU

    *HM> 0A> ?HHM>K I >E>F>GMBLGHM L><MBHGBG@<HGM>GM I BM=H>LGMBGMKH=N<>:G>PL><MBHG

    8IFOUIFOFBSFTUBODFTUPS TFDUJPOJOHDPOUFOU Q PS TFDUJPOJOHSPPU Q FMFNFOUJT UIFCPEZFMFNFOU Q UIFOJUBQQMJFT


    UPUIFXIPMFQBHF

    )FSFJTBQBHFXJUIUXPGPPUFST POFBUUIFUPQBOEPOFBUUIFCPUUPN XJUIUIFTBNFDPOUFOU

    CPEZ
    GPPUFSBISFG#BDLUPJOEFYBGPPUFS
    IHSPVQ
    I-PSFNJQTVNI
    I5IFJQTVNPGBMMMPSFNTI
    IHSPVQ
    Q"EPMPSTJUBNFU DPOTFDUFUVSBEJQJTJDJOHFMJU TFEEPFJVTNPE
    UFNQPSJODJEJEVOUVUMBCPSFFUEPMPSFNBHOBBMJRVB6UFOJNBENJOJN
    WFOJBN RVJTOPTUSVEFYFSDJUBUJPOVMMBNDPMBCPSJTOJTJVUBMJRVJQFY
    FBDPNNPEPDPOTFRVBU%VJTBVUFJSVSFEPMPSJOSFQSFIFOEFSJUJO
    WPMVQUBUFWFMJUFTTFDJMMVNEPMPSFFVGVHJBUOVMMB
    QBSJBUVS&YDFQUFVSTJOUPDDBFDBUDVQJEBUBUOPOQSPJEFOU TVOUJO
    DVMQBRVJPGGJDJBEFTFSVOUNPMMJUBOJNJEFTUMBCPSVNQ
    GPPUFSBISFG#BDLUPJOEFYBGPPUFS
    CPEZ

    )FSFJTBOFYBNQMFXIJDITIPXTUIF GPPUFS Q FMFNFOUCFJOHVTFECPUIGPSBTJUFXJEFGPPUFSBOEGPSBTFDUJPO


    GPPUFS

    %0$5:1&)5.-
    )5.-)&"%
    5*5-&5IF3BNCMJOHTPGB4DJFOUJTU5*5-&

    
    #0%:
    )5IF3BNCMJOHTPGB4DJFOUJTU)
    "35*$-&
    )&QJTPEF)
    7*%&043$GNPHW$0/530-413&-0"%
    1")3&'GNPHW%PXOMPBEWJEFP"1
    7*%&0
    '005&3GPPUFSGPSBSUJDMF
    11VCMJTIFE5*.&16#%"5&%"5&5*.&55*.&1
    '005&3
    "35*$-&
    "35*$-&
    ).Z'BWPSJUF5SBJOT)
    1*MPWFNZUSBJOT.ZGBWPSJUFUSBJOPGBMMUJNFJTB,iG1
    1*UJTGVOUPTFFUIFNQVMMTPNFDPBMDBSTCFDBVTFUIFZMPPLTP
    EXBSGFEJODPNQBSJTPO1
    '005&3GPPUFSGPSBSUJDMF
    11VCMJTIFE5*.&16#%"5&%"5&5*.&55*.&1
    '005&3
    "35*$-&
    '005&3TJUFXJEFGPPUFS
    /"7
    1")3&'DSFEJUTIUNM$SFEJUT"z
    ")3&'UPTIUNM5FSNTPG4FSWJDF"z
    ")3&'JOEFYIUNM#MPH*OEFY"1
    /"7
    1$PQZSJHIUa(PSEPO'SFFNBO1
    '005&3
    #0%:
    )5.-

       0B? <??M@NN ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    'MPXDPOUFOU Q CVUXJUIOP IFBEJOHDPOUFOU Q EFTDFOEBOUT OP TFDUJPOJOHDPOUFOU Q EFTDFOEBOUT BOEOP
    IFBEFS Q GPPUFS Q PS BEESFTT Q FMFNFOUEFTDFOEBOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF BEESFTT Q FMFNFOU SFQSFTFOUT Q UIFDPOUBDUJOGPSNBUJPOGPSJUTOFBSFTU BSUJDMF Q PS CPEZ Q FMFNFOU
    BODFTUPS*GUIBUJT UIFCPEZFMFNFOU Q UIFOUIFDPOUBDUJOGPSNBUJPOBQQMJFTUPUIFEPDVNFOUBTBXIPMF

    'PSFYBNQMF BQBHFBUUIF8$8FCTJUFSFMBUFEUP)5.-NJHIUJODMVEFUIFGPMMPXJOHDPOUBDUJOGPSNBUJPO

    "%%3&44
    "ISFG1FPQMF3BHHFUU%BWF3BHHFUU"
    "ISFG1FPQMF"SOBVE"SOBVE-F)PST"
    DPOUBDUQFSTPOTGPSUIF"ISFG"DUJWJUZ8$)5.-"DUJWJUZ"
    "%%3&44

    5IF BEESFTT Q FMFNFOUNVTUOPUCFVTFEUPSFQSFTFOUBSCJUSBSZBEESFTTFT FHQPTUBMBEESFTTFT


    VOMFTTUIPTF
    BEESFTTFTBSFJOGBDUUIFSFMFWBOUDPOUBDUJOGPSNBUJPO 5IF Q Q FMFNFOUJTUIFBQQSPQSJBUFFMFNFOUGPSNBSLJOHVQ
    QPTUBMBEESFTTFTJOHFOFSBM

    5IF BEESFTT Q FMFNFOUNVTUOPUDPOUBJOJOGPSNBUJPOPUIFSUIBODPOUBDUJOGPSNBUJPO

    
    'PSFYBNQMF UIFGPMMPXJOHJTOPODPOGPSNJOHVTFPGUIF BEESFTT Q FMFNFOU

    "%%3&44-BTU.PEJGJFE"%%3&44

    5ZQJDBMMZ UIF BEESFTT Q FMFNFOUXPVMECFJODMVEFEBMPOHXJUIPUIFSJOGPSNBUJPOJOB GPPUFS Q FMFNFOU

    5IFDPOUBDUJOGPSNBUJPOGPSBOPEF =>34 JTBDPMMFDUJPOPG BEESFTT Q FMFNFOUTEFИOFECZUIFИSTUBQQMJDBCMFFOUSZ


    GSPNUIFGPMMPXJOHMJTU
    K
    X %@ GH=> CM;H <MOD>G@ ?F?G?HN
    K
    X %@ GH=> CM; =J?T ?F?G?HN
    5IFDPOUBDUJOGPSNBUJPODPOTJTUTPGBMMUIF BEESFTT Q FMFNFOUTUIBUIBWF =>34 BTBOBODFTUPSBOEEPOPU
    IBWFBOPUIFS CPEZ Q PS BSUJDMF Q FMFNFOUBODFTUPSUIBUJTBEFTDFOEBOUPG =>34
    K
    X %@ GH=> B;M;H;H=?MNIL?F?G?HNNB;NCM;H <MOD>G@ ?F?G?HN
    K
    X %@ GH=> B;M;H;H=?MNIL?F?G?HNNB;NCM; =J?T ?F?G?HN
    5IFDPOUBDUJOGPSNBUJPOPG =>34 JTUIFTBNFBTUIFDPOUBDUJOGPSNBUJPOPGUIFOFBSFTU BSUJDMF Q PS CPEZ Q
    FMFNFOUBODFTUPS XIJDIFWFSJTOFBSFTU
    K
    X %@ GH=>M "J>PH@IO B;M ;<I>S?F?G?HN J
    5IFDPOUBDUJOGPSNBUJPOPG =>34 JTUIFTBNFBTUIFDPOUBDUJOGPSNBUJPO UIFCPEZFMFNFOU Q PGUIF
    %PDVNFOU Q 

    X +NB?LQCM?
    5IFSFJTOPDPOUBDUJOGPSNBUJPOGPS =>34

    6TFSBHFOUTNBZFYQPTFUIFDPOUBDUJOGPSNBUJPOPGBOPEFUPUIFVTFS PSVTFJUGPSPUIFSQVSQPTFT TVDIBTJOEFYJOH


    TFDUJPOTCBTFEPOUIFTFDUJPOTDPOUBDUJOGPSNBUJPO

       $?;>CHAM;H>M?=NCIHM

    5IF I Q ǠI Q FMFNFOUTBOEUIF IHSPVQ Q FMFNFOUBSFIFBEJOHT

    5IFИSTUFMFNFOUPG IFBEJOHDPOUFOU Q JOBOFMFNFOUPG TFDUJPOJOHDPOUFOU Q SFQSFTFOUT Q UIFIFBEJOHGPSUIBU


    TFDUJPO4VCTFRVFOUIFBEJOHTPGFRVBMPSIJHIFS SBOL Q TUBSUOFX JNQMJFE
    TFDUJPOT IFBEJOHTPGMPXFS SBOL Q TUBSU
    JNQMJFETVCTFDUJPOTUIBUBSFQBSUPGUIFQSFWJPVTPOF*OCPUIDBTFT UIFFMFNFOU SFQSFTFOUT Q UIFIFBEJOHPGUIF
    JNQMJFETFDUJPO

    $FSUBJOFMFNFOUTBSFTBJEUPCF M?=NCIHCHALIINM JODMVEJOH CMPDLRVPUF Q BOE UE Q FMFNFOUT5IFTFFMFNFOUTDBO


    IBWFUIFJSPXOPVUMJOFT CVUUIFTFDUJPOTBOEIFBEJOHTJOTJEFUIFTFFMFNFOUTEPOPUDPOUSJCVUFUPUIFPVUMJOFTPGUIFJS
    BODFTUPST
    Y CMPDLRVPUF Q CPEZ Q EFUBJMT Q GJFMETFU Q GJHVSF Q UE Q

    4FDUJPOJOHDPOUFOU Q FMFNFOUTBSFBMXBZTDPOTJEFSFETVCTFDUJPOTPGUIFJSOFBSFTUBODFTUPS TFDUJPOJOHSPPU Q PSUIFJS


    OFBSFTUBODFTUPSFMFNFOUPG TFDUJPOJOHDPOUFOU Q XIJDIFWFSJTOFBSFTU SFHBSEMFTTPGXIBUJNQMJFETFDUJPOTPUIFS
    IFBEJOHTNBZIBWFDSFBUFE

    'PSUIFGPMMPXJOHGSBHNFOU

    CPEZ
    I'PPI
    I#BSI
    CMPDLRVPUF
    I#MBI
    CMPDLRVPUF
    Q#B[Q
    I2VVYI
    TFDUJPO
    I5IVEI
    TFDUJPO
    Q(SVOUQ
    CPEZ

    UIFTUSVDUVSFXPVMECF

     'PP IFBEJOHPGFYQMJDJU CPEZ Q TFDUJPO DPOUBJOJOHUIF(SVOUQBSBHSBQI

    
     #BS IFBEJOHTUBSUJOHJNQMJFETFDUJPO DPOUBJOJOHBCMPDLRVPUFBOEUIF#B[QBSBHSBQI

     2VVY IFBEJOHTUBSUJOHJNQMJFETFDUJPOXJUIOPDPOUFOUPUIFSUIBOUIFIFBEJOHJUTFMG

     5IVE IFBEJOHPGFYQMJDJU TFDUJPO Q TFDUJPO

    /PUJDFIPXUIF TFDUJPO Q FOETUIFFBSMJFSJNQMJDJUTFDUJPOTPUIBUBMBUFSQBSBHSBQI (SVOU


    JTCBDLBUUIFUPQ
    MFWFM

    4FDUJPOTNBZDPOUBJOIFBEJOHTPGBOZ SBOL Q CVUBVUIPSTBSFTUSPOHMZFODPVSBHFEUPFJUIFSVTFPOMZ I Q FMFNFOUT


    PSUPVTFFMFNFOUTPGUIFBQQSPQSJBUF SBOL Q GPSUIFTFDUJPOTOFTUJOHMFWFM

    "VUIPSTBSFBMTPFODPVSBHFEUPFYQMJDJUMZXSBQTFDUJPOTJOFMFNFOUTPG TFDUJPOJOHDPOUFOU Q JOTUFBEPGSFMZJOHPOUIF


    JNQMJDJUTFDUJPOTHFOFSBUFECZIBWJOHNVMUJQMFIFBEJOHTJOPOFFMFNFOUPG TFDUJPOJOHDPOUFOU Q 

    'PSFYBNQMF UIFGPMMPXJOHJTDPSSFDU

    CPEZ
    I"QQMFTI
    Q"QQMFTBSFGSVJUQ
    TFDUJPO
    I5BTUFI
    Q5IFZUBTUFMPWFMZQ
    I4XFFUI
    Q3FEBQQMFTBSFTXFFUFSUIBOHSFFOPOFTQ
    I$PMPSI
    Q"QQMFTDPNFJOWBSJPVTDPMPSTQ
    TFDUJPO
    CPEZ

    )PXFWFS UIFTBNFEPDVNFOUXPVMECFNPSFDMFBSMZFYQSFTTFEBT

    CPEZ
    I"QQMFTI
    Q"QQMFTBSFGSVJUQ
    TFDUJPO
    I5BTUFI
    Q5IFZUBTUFMPWFMZQ
    TFDUJPO
    I4XFFUI
    Q3FEBQQMFTBSFTXFFUFSUIBOHSFFOPOFTQ
    TFDUJPO
    TFDUJPO
    TFDUJPO
    I$PMPSI
    Q"QQMFTDPNFJOWBSJPVTDPMPSTQ
    TFDUJPO
    CPEZ

    #PUIPGUIFEPDVNFOUTBCPWFBSFTFNBOUJDBMMZJEFOUJDBMBOEXPVMEQSPEVDFUIFTBNFPVUMJOFJODPNQMJBOUVTFS
    BHFOUT

        L?;NCHA;HIONFCH?

    5IJTTFDUJPOEFИOFTBOBMHPSJUINGPSDSFBUJOHBOPVUMJOFGPSB TFDUJPOJOHDPOUFOU Q FMFNFOUPSB TFDUJPOJOHSPPU Q


    FMFNFOU*UJTEFИOFEJOUFSNTPGBXBMLPWFSUIFOPEFTPGB%0.USFF JOUSFFPSEFS XJUIFBDIOPEFCFJOHWJTJUFE
    XIFOJUJT 4=C4A43 BOEXIFOJUJT 4G8C43 EVSJOHUIFXBML

    5IF IONFCH? GPSB TFDUJPOJOHDPOUFOU Q FMFNFOUPSB TFDUJPOJOHSPPU Q FMFNFOUDPOTJTUTPGBMJTUPGPOFPSNPSF


    QPUFOUJBMMZOFTUFE TFDUJPOT Q " M?=NCIH JTBDPOUBJOFSUIBUDPSSFTQPOETUPTPNFOPEFTJOUIFPSJHJOBM%0.USFF&BDI
    TFDUJPODBOIBWFPOFIFBEJOHBTTPDJBUFEXJUIJU BOEDBODPOUBJOBOZOVNCFSPGGVSUIFSOFTUFETFDUJPOT 5IF
    BMHPSJUINGPSUIFPVUMJOFBMTPBTTPDJBUFTFBDIOPEFJOUIF%0.USFFXJUIBQBSUJDVMBSTFDUJPOBOEQPUFOUJBMMZBIFBEJOH
    5IFTFDUJPOTJOUIFPVUMJOFBSFOU TFDUJPO Q FMFNFOUT UIPVHITPNFNBZDPSSFTQPOEUPTVDIFMFNFOUTǡUIFZBSF
    NFSFMZDPODFQUVBMTFDUJPOT

    5IFGPMMPXJOHNBSLVQGSBHNFOU

    CPEZ
    I"I
    Q#Q

    
    I$I
    Q%Q
    I&I
    Q'Q
    CPEZ

    SFTVMUTJOUIFGPMMPXJOHPVUMJOFCFJOHDSFBUFEGPSUIF CPEZ Q OPEF BOEUIVTUIFFOUJSFEPDVNFOU


    

     4FDUJPODSFBUFEGPS CPEZ Q OPEF


    "TTPDJBUFEXJUIIFBEJOH"
    "MTPBTTPDJBUFEXJUIQBSBHSBQI#
    /FTUFETFDUJPOT

     4FDUJPOJNQMJFEGPSИSTU I Q FMFNFOU


    "TTPDJBUFEXJUIIFBEJOH$
    "MTPBTTPDJBUFEXJUIQBSBHSBQI%
    /POFTUFETFDUJPOT
     4FDUJPOJNQMJFEGPSTFDPOE I Q FMFNFOU
    "TTPDJBUFEXJUIIFBEJOH&
    "MTPBTTPDJBUFEXJUIQBSBHSBQI'
    /POFTUFETFDUJPOT

    5IFBMHPSJUINUIBUNVTUCFGPMMPXFEEVSJOHBXBMLPGB%0.TVCUSFFSPPUFEBUB TFDUJPOJOHDPOUFOU Q FMFNFOUPSB


    TFDUJPOJOHSPPU Q FMFNFOUUPEFUFSNJOFUIBUFMFNFOUT PVUMJOF Q JTBTGPMMPXT

     -FU 2DAA4=C>DC;8=44 CFOVMM *UIPMETUIFFMFNFOUXIPTF PVUMJOF Q JTCFJOHDSFBUFE

     -FU 2DAA4=CB42C8>= CFOVMM *UIPMETBQPJOUFSUPB TFDUJPO Q TPUIBUFMFNFOUTJOUIF%0.DBOBMMCF


    BTTPDJBUFEXJUIBTFDUJPO

     $SFBUFBTUBDLUPIPMEFMFNFOUT XIJDIJTVTFEUPIBOEMFOFTUJOH*OJUJBMJ[FUIJTTUBDLUPFNQUZ

     "TZPVXBMLPWFSUIF%0.JO USFFPSEFS Q USJHHFSUIFИSTUSFMFWBOUTUFQCFMPXGPSFBDIFMFNFOUBTZPV


    FOUFSBOEFYJUJU

    X %@NB?NIJI@NB?MN;=ECM;H?F?G?HN
    ;H>SIO;L??RCNCHANB;N?F?G?HN

    *HM> 0A>>E>F>GM;>BG@>QBM>=BL: A>:=BG@<HGM>GM I >E>F>GM

    1PQUIBUFMFNFOUGSPNUIFTUBDL
    J
    X %@NB?NIJI@NB?MN;=ECM; B?;>CHA=IHN?HN ?F?G?HN
    %POPUIJOH
    J
    X 3B?H?HN?LCHA; M?=NCIHCHA=IHN?HN ?F?G?HNIL; M?=NCIHCHALIIN J ?F?G?HN
    *G 2DAA4=C>DC;8=44 JTOPUOVMM BOEUIF 2DAA4=CB42C8>= IBTOPIFBEJOH DSFBUFBOJNQMJFEIFBEJOH
    BOEMFUUIBUCFUIFIFBEJOHGPSUIF 2DAA4=CB42C8>=

    *G 2DAA4=C>DC;8=44 JTOPUOVMM QVTI 2DAA4=C>DC;8=44 POUPUIFTUBDL

    -FU 2DAA4=C>DC;8=44 CFUIFFMFNFOUUIBUJTCFJOHFOUFSFE

    -FU 2DAA4=CB42C8>= CFBOFXMZDSFBUFE TFDUJPO Q GPSUIF 2DAA4=C>DC;8=44 FMFNFOU

    -FUUIFSFCFBOFX PVUMJOF Q GPSUIFOFX 2DAA4=C>DC;8=44 JOJUJBMJ[FEXJUIKVTUUIFOFX 2DAA4=C


    B42C8>= BTUIFPOMZ TFDUJPO Q JOUIFPVUMJOF
    J
    X 3B?H?RCNCHA; M?=NCIHCHA=IHN?HN ?F?G?HN
    C@NB?MN;=ECMHIN?GJNS
    1PQUIFUPQFMFNFOUGSPNUIFTUBDL BOEMFUUIF 2DAA4=C>DC;8=44 CFUIBUFMFNFOU

    -FU 2DAA4=CB42C8>= CFUIFMBTUTFDUJPOJOUIF PVUMJOF Q PGUIF 2DAA4=C>DC;8=44 FMFNFOU

    "QQFOEUIF PVUMJOF Q PGUIF TFDUJPOJOHDPOUFOU Q FMFNFOUCFJOHFYJUFEUPUIF 2DAA4=CB42C8>=


    5IJTEPFTOPUDIBOHFXIJDITFDUJPOJTUIFMBTUTFDUJPOJOUIF PVUMJOF Q 

    J
    X 3B?H?RCNCHA; M?=NCIHCHALIIN ?F?G?HN
    C@NB?MN;=ECMHIN?GJNS
    3VOUIFTFTUFQT

     1PQUIFUPQFMFNFOUGSPNUIFTUBDL BOEMFUUIF 2DAA4=C>DC;8=44 CFUIBUFMFNFOU

     -FU 2DAA4=CB42C8>= CFUIFMBTUTFDUJPOJOUIF PVUMJOF Q PGUIF 2DAA4=C>DC;8=44 FMFNFOU

    
     8=38=6C74344?4BC278;3*G 2DAA4=CB42C8>= IBTOPDIJMETFDUJPOT TUPQUIFTFTUFQT

     -FU 2DAA4=CB42C8>= CFUIFMBTUDIJME TFDUJPO Q PGUIFDVSSFOU 2DAA4=CB42C8>=

     (PCBDLUPUIFTVCTUFQMBCFMFE P=38=6C74344?4BC278;3
    J
    X 3B?H?RCNCHA; M?=NCIHCHA=IHN?HN ?F?G?HNIL; M?=NCIHCHALIIN J ?F?G?HN

    *HM> 0A> <NKK>GMHNMEBG>> BLMA>>E>F>GM;>BG@>QBM>=

    -FU 2DAA4=CB42C8>= CFUIFИSTU TFDUJPO Q JOUIF PVUMJOF Q PGUIF 2DAA4=C>DC;8=44 FMFNFOU

    4LJQUPUIFOFYUTUFQJOUIFPWFSBMMTFUPGTUFQT 5IFXBMLJTPWFS

    X %@NB? <NKK>GMHNMEBG>> CMHOFF


    %POPUIJOH
    J
    X 3B?H?HN?LCHA; B?;>CHA=IHN?HN ?F?G?HN
    *GUIF 2DAA4=CB42C8>= IBTOPIFBEJOH MFUUIFFMFNFOUCFJOHFOUFSFECFUIFIFBEJOHGPSUIF 2DAA4=C
    B42C8>=

    0UIFSXJTF JGUIFFMFNFOUCFJOHFOUFSFEIBTB SBOL Q FRVBMUPPSHSFBUFSUIBOUIFIFBEJOHPGUIF


    MBTUTFDUJPOPGUIF PVUMJOF Q PGUIF 2DAA4=C>DC;8=44 UIFODSFBUFBOFX TFDUJPO Q BOEBQQFOEJUUP
    UIF PVUMJOF Q PGUIF 2DAA4=C>DC;8=44 FMFNFOU TPUIBUUIJTOFXTFDUJPOJTUIFOFXMBTUTFDUJPOPG
    UIBUPVUMJOF-FU 2DAA4=CB42C8>= CFUIBUOFXTFDUJPO-FUUIFFMFNFOUCFJOHFOUFSFECFUIFOFX
    IFBEJOHGPSUIF 2DAA4=CB42C8>=

    0UIFSXJTF SVOUIFTFTVCTUFQT

     -FU 20=3830C4B42C8>= CF 2DAA4=CB42C8>=

     *GUIFFMFNFOUCFJOHFOUFSFEIBTB SBOL Q MPXFSUIBOUIF SBOL Q PGUIFIFBEJOHPGUIF


    20=3830C4B42C8>= UIFODSFBUFBOFX TFDUJPO Q BOEBQQFOEJUUP 20=3830C4B42C8>=
    5IJTEPFTOPUDIBOHFXIJDITFDUJPOJTUIFMBTUTFDUJPOJOUIFPVUMJOF
    -FU 2DAA4=CB42C8>=
    CFUIJTOFXTFDUJPO-FUUIFFMFNFOUCFJOHFOUFSFECFUIFOFXIFBEJOHGPSUIF 2DAA4=C
    B42C8>="CPSUUIFTFTVCTUFQT

     -FU =4F20=3830C4B42C8>= CFUIF TFDUJPO Q UIBUDPOUBJOT 20=3830C4B42C8>= JOUIF


    PVUMJOF Q PG 2DAA4=C>DC;8=44

     -FU 20=3830C4B42C8>= CF =4F20=3830C4B42C8>=

     3FUVSOUPTUFQ

    1VTIUIFFMFNFOUCFJOHFOUFSFEPOUPUIFTUBDL 5IJTDBVTFTUIFBMHPSJUINUPTLJQBOZEFTDFOEBOUT
    PGUIFFMFNFOU

    *HM> .><:EEMA:M A I A:LMA> AB@A>LM K:GD :G= A I A:LMA>EHP>LMK:GD

    X +NB?LQCM?
    %POPUIJOH

    *OBEEJUJPO XIFOFWFSZPVFYJUBOPEF BGUFSEPJOHUIFTUFQTBCPWF JG 2DAA4=CB42C8>= JTOPUOVMM BTTPDJBUF


    UIFOPEFXJUIUIF TFDUJPO Q 2DAA4=CB42C8>=

     *GUIF 2DAA4=C>DC;8=44 JTOVMM UIFOUIFSFXBTOP TFDUJPOJOHDPOUFOU Q FMFNFOUPS TFDUJPOJOHSPPU Q FMFNFOU
    JOUIF%0.5IFSFJTOP PVUMJOF Q "CPSUUIFTFTUFQT

     "TTPDJBUFBOZOPEFTUIBUXFSFOPUBTTPDJBUFEXJUIB TFDUJPO Q JOUIFTUFQTBCPWFXJUI 2DAA4=C>DC;8=44 BT


    UIFJSTFDUJPO

     "TTPDJBUFBMMOPEFTXJUIUIFIFBEJOHPGUIF TFDUJPO Q XJUIXIJDIUIFZBSFBTTPDJBUFE JGBOZ

     *G 2DAA4=C>DC;8=44 JT UIFCPEZFMFNFOU Q UIFOUIFPVUMJOFDSFBUFEGPSUIBUFMFNFOUJTUIF PVUMJOF Q PGUIF


    FOUJSFEPDVNFOU

    5IFUSFFPGTFDUJPOTDSFBUFECZUIFBMHPSJUINBCPWF PSBQSPQFSTVCTFUUIFSFPG NVTUCFVTFEXIFOHFOFSBUJOH


    EPDVNFOUPVUMJOFT GPSFYBNQMFXIFOHFOFSBUJOHUBCMFTPGDPOUFOUT

    
    8IFODSFBUJOHBOJOUFSBDUJWFUBCMFPGDPOUFOUT FOUSJFTTIPVMEKVNQUIFVTFSUPUIFSFMFWBOU TFDUJPOJOHDPOUFOU Q
    FMFNFOU JGUIF TFDUJPO Q XBTDSFBUFEGPSBSFBMFMFNFOUJOUIFPSJHJOBMEPDVNFOU PSUPUIFSFMFWBOU IFBEJOH
    DPOUFOU Q FMFNFOU JGUIF TFDUJPO Q JOUIFUSFFXBTHFOFSBUFEGPSBIFBEJOHJOUIFBCPWFQSPDFTT

    *HM> />E><MBG@MA>[KLM L><MBHG I H?MA>=H<NF>GMMA>K>?HK>:EP:RLM:D>LMA>NL>KMHMA>MHIH?


    MA>=H<NF>GM K>@:K=E>LLH?PA>K>MA>[KLMA>:=BG@BGMA> ;H=R I BLMH;>?HNG=

    5IF IONFCH?>?JNB PGB IFBEJOHDPOUFOU Q FMFNFOUBTTPDJBUFEXJUIB TFDUJPO Q B42C8>= JTUIFOVNCFSPG TFDUJPOT Q
    UIBUBSFBODFTUPSTPG B42C8>= JOUIF PVUMJOF Q UIBU B42C8>= ИOETJUTFMGJOXIFOUIF PVUMJOFT Q PGJUT %PDVNFOU Q T
    FMFNFOUTBSFDSFBUFE QMVT5IF PVUMJOFEFQUI Q PGB IFBEJOHDPOUFOU Q FMFNFOUOPUBTTPDJBUFEXJUIB TFDUJPO Q JT
    

    6TFSBHFOUTTIPVMEQSPWJEFEFGBVMUIFBEJOHTGPSTFDUJPOTUIBUEPOPUIBWFFYQMJDJUTFDUJPOIFBEJOHT

    $POTJEFSUIFGPMMPXJOHTOJQQFU

    CPEZ
    OBW
    QBISFG)PNFBQ
    OBW
    Q)FMMPXPSMEQ
    BTJEF
    Q.ZDBUJTDVUFQ
    BTJEF
    CPEZ

    "MUIPVHIJUDPOUBJOTOPIFBEJOHT UIJTTOJQQFUIBTUISFFTFDUJPOTBEPDVNFOU UIF CPEZ Q


    XJUIUXP
    TVCTFDUJPOT B OBW Q BOEBO BTJEF Q
    "VTFSBHFOUDPVMEQSFTFOUUIFPVUMJOFBTGPMMPXT

     6OUJUMFEEPDVNFOU
     /BWJHBUJPO
     4JEFCBS

    5IFTFEFGBVMUIFBEJOHT 6OUJUMFEEPDVNFOU /BWJHBUJPO 4JEFCBS


    BSFOPUTQFDJИFECZUIJTTQFDJИDBUJPO
    BOENJHIUWBSZXJUIUIFVTFSTMBOHVBHF UIFQBHFTMBOHVBHF UIFVTFSTQSFGFSFODFT UIFVTFSBHFOU
    JNQMFNFOUPSTQSFGFSFODFT FUD

    0A>?HEEHPBG@&:O:/<KBIM?NG<MBHGLAHPLAHPMA>MK>>P:ED<HNE=;>BFIE>F>GM>= 0A> KHHM


    :K@NF>GMBLMA>KHHMH?MA>MK>>MHP:ED :G=MA> >GM>K :G= >QBM :K@NF>GML:K><:EE;:<DLMA:M:K>
    <:EE>=PBMAMA>GH=>L:LMA>R:K>>GM>K>=:G=>QBM>= 7!)8 I

    ?NG<MBHGKHHM >GM>K >QBM T


    O:KGH=>KHHM
    LM:KMPABE>GH=> T
    >GM>KGH=> 
    B?GH=> ?BKLM"ABE= T
    GH=>GH=> ?BKLM"ABE=
    <HGMBGN>LM:KM
    U
    PABE>GH=> T
    >QBMGH=> 
    B?GH=> G>QM1B;EBG@ T
    GH=>GH=> G>QM1B;EBG@
    <HGMBGN>LM:KM
    U
    B?GH=>KHHM
    GH=>GNEE
    >EL>
    GH=>GH=> I:K>GM,H=>
    U
    U
    U

    
      #LIOJCHA=IHN?HN

       0B? K ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*.<M<BM<KC#G@H@IO  )5.-&MFNFOU \^

    5IF Q Q FMFNFOU SFQSFTFOUT Q B QBSBHSBQI Q 

    5IFGPMMPXJOHFYBNQMFTBSFDPOGPSNJOH)5.-GSBHNFOUT

    Q5IFMJUUMFLJUUFOHFOUMZTFBUFEIJNTFMGPOBQJFDFPG
    DBSQFU-BUFSJOIJTMJGF UIJTXPVMECFSFGFSSFEUPBTUIFUJNFUIF
    DBUTBUPOUIFNBUQ
    GJFMETFU
    MFHFOE1FSTPOBMJOGPSNBUJPOMFHFOE
    Q
    MBCFM/BNFJOQVUOBNFOMBCFM
    MBCFMJOQVUOBNFBOPOUZQFDIFDLCPY)JEFGSPNPUIFSVTFSTMBCFM
    Q
    QMBCFM"EESFTTUFYUBSFBOBNFBUFYUBSFBMBCFMQ
    GJFMETFU
    Q5IFSFXBTPODFBOFYBNQMFGSPN'FNMFZ CS
    8IPTFNBSLVQXBTPGEVCJPVTRVBMJUZCS
    5IFWBMJEBUPSDPNQMBJOFE CS
    4PUIFBVUIPSXBTQBJOFE CS
    5PNPWFUIFFSSPSGSPNUIFNBSLVQUPUIFSIZNJOHQ

    5IF Q Q FMFNFOUTIPVMEOPUCFVTFEXIFOBNPSFTQFDJИDFMFNFOUJTNPSFBQQSPQSJBUF

    5IFGPMMPXJOHFYBNQMFJTUFDIOJDBMMZDPSSFDU

    TFDUJPO
    
    Q-BTUNPEJGJFEQ
    Q"VUIPSGSFE!FYBNQMFDPNQ
    TFDUJPO

    )PXFWFS JUXPVMECFCFUUFSNBSLFEVQBT

    TFDUJPO
    
    GPPUFS-BTUNPEJGJFEGPPUFS
    BEESFTT"VUIPSGSFE!FYBNQMFDPNBEESFTT
    TFDUJPO

    0S

    TFDUJPO
    
    GPPUFS
    Q-BTUNPEJGJFEQ
    BEESFTT"VUIPSGSFE!FYBNQMFDPNBEESFTT
    GPPUFS
    TFDUJPO

    
       0B? CM ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*&0#G@H@IO  )5.-&MFNFOU \^

    5IF IS Q FMFNFOU SFQSFTFOUT Q B QBSBHSBQI Q MFWFMUIFNBUJDCSFBL FHBTDFOFDIBOHFJOBTUPSZ PSBUSBOTJUJPO
    UPBOPUIFSUPQJDXJUIJOBTFDUJPOPGBSFGFSFODFCPPL

    5IFGPMMPXJOHFYUSBDUGSPN &0=3>A0B)C0A CZ1FUFS')BNJMUPOTIPXTUXPQBSBHSBQITUIBUQSFDFEFBTDFOF


    DIBOHFBOEUIFQBSBHSBQIUIBUGPMMPXTJU5IFTDFOFDIBOHF SFQSFTFOUFEJOUIFQSJOUFECPPLCZBHBQ
    DPOUBJOJOHBTPMJUBSZDFOUFSFETUBSCFUXFFOUIFTFDPOEBOEUIJSEQBSBHSBQIT JTIFSFSFQSFTFOUFEVTJOHUIF
    IS Q FMFNFOU

    Q%VEMFZXBTOJOFUZUXP JOIJTTFDPOEMJGF BOEGBTUBQQSPBDIJOH


    UJNFGPSBOPUIFSSFKVWFOBUJPO%FTQJUFIJTCPEZIBWJOHUIFQIZTJDBM
    BHFPGBTUBOEBSEGJGUZZFBSPME UIFQSPTQFDUPGBMPOHEFHSBEJOH
    DBNQBJHOXJUIJOBDBEFNJBXBTPOFIFSFHBSEFEXJUIESFBE'PSB
    TVQQPTFEMZBEWBODFEDJWJMJ[BUJPO UIF*OUFSTPMBS$PNNPOXFBSUIDPVMECF
    BQQBMMJOHMZCBDLXBSEBUUJNFT OPUUPNFOUJPODSVFMQ
    QJ.BZCFJUXPOUCFUIBUCBEJ IFUPMEIJNTFMG5IFMJFXBT
    DPNGPSUJOHFOPVHIUPHFUIJNUISPVHIUIFSFTUPGUIFOJHIUT
    TIJGUQ
    CM
    Q5IF$BSMUPO"MM-BOEFSESPWF%VEMFZIPNFKVTUBGUFSEBXO-JLFUIF
    BTUSPOPNFS UIFWFIJDMFXBTPMEBOEXPSO CVUQFSGFDUMZDBQBCMFPG
    EPJOHJUTKPC*UIBEBDIFBQEJFTFMFOHJOF DPNNPOFOPVHIPOB
    TFNJGSPOUJFSXPSMEMJLF(SBMNPOE BMUIPVHIJUTESJWFBSSBZXBTB
    UIPSPVHIMZNPEFSOQIPUPOFVSBMQSPDFTTPS8JUIJUTIJHITVTQFOTJPOBOE
    EFFQUSFBEUZSFTJUDPVMEQMPVHIBMPOHUIFEJSUUSBDLUPUIF
    PCTFSWBUPSZJOBMMXFBUIFSBOETFBTPOT JODMVEJOHUIFNFUSFEFFQTOPX
    PG(SBMNPOETXJOUFSTQ

       0B? KM@ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*.M@#G@H@IO  )5.-&MFNFOU \^

    5IF QSF Q FMFNFOU SFQSFTFOUT Q BCMPDLPGQSFGPSNBUUFEUFYU JOXIJDITUSVDUVSFJTSFQSFTFOUFECZUZQPHSBQIJD


    DPOWFOUJPOTSBUIFSUIBOCZFMFNFOUT

    
    *HM> %G MA>$0)(LRGM:Q I :E>:=BG@G>PEBG><A:K:<M>KBFF>=B:M>ER?HEEHPBG@MA> IK> I
    >E>F>GMLM:KMM:@BLLMKBII>=

    4PNFFYBNQMFTPGDBTFTXIFSFUIF QSF Q FMFNFOUDPVMECFVTFE

    Ǭ *ODMVEJOHBOFNBJM XJUIQBSBHSBQITJOEJDBUFECZCMBOLMJOFT MJTUTJOEJDBUFECZMJOFTQSFИYFEXJUIBCVMMFU


    BOETPPO

    Ǭ *ODMVEJOHGSBHNFOUTPGDPNQVUFSDPEF XJUITUSVDUVSFJOEJDBUFEBDDPSEJOHUPUIFDPOWFOUJPOTPGUIBU
    MBOHVBHF

    Ǭ %JTQMBZJOH"4$**BSU

    *HM> NMAHKL:K>>G<HNK:@>=MH<HGLB=>KAHPIK>?HKF:MM>=M>QMPBEE;>>QI>KB>G<>=PA>GMA>
    ?HKF:MMBG@BLEHLM :LPBEE;>MA><:L>?HKNL>KLH?LI>><ALRGMA>LBS>KL ;K:BEE>=BLIE:RL :G=MA>
    EBD> "HK<:L>LEBD>/%%:KM BMBLEBD>ERMA:M:G:EM>KG:MBO>IK>L>GM:MBHG LN<A:L:M>QMN:E
    =>L<KBIMBHG PHNE=;>FHK>NGBO>KL:EER:<<>LLB;E>MHMA>K>:=>KLH?MA>=H<NF>GM

    5PSFQSFTFOUBCMPDLPGDPNQVUFSDPEF UIF QSF Q FMFNFOUDBOCFVTFEXJUIB DPEF Q FMFNFOUUPSFQSFTFOUBCMPDL


    PGDPNQVUFSPVUQVUUIF QSF Q FMFNFOUDBOCFVTFEXJUIB TBNQ Q FMFNFOU4JNJMBSMZ UIF LCE Q FMFNFOUDBOCF
    VTFEXJUIJOB QSF Q FMFNFOUUPJOEJDBUFUFYUUIBUUIFVTFSJTUPFOUFS

    *OUIFGPMMPXJOHTOJQQFU BTBNQMFPGDPNQVUFSDPEFJTQSFTFOUFE

    Q5IJTJTUIFDPEF1BOFMDPEFDPOTUSVDUPSQ
    QSFDPEFGVODUJPO1BOFM FMFNFOU DBO$MPTF DMPTF)BOEMFS
    \
    UIJTFMFNFOUFMFNFOU
    UIJTDBO$MPTFDBO$MPTF
    UIJTDMPTF)BOEMFSGVODUJPO
    \JG DMPTF)BOEMFS
    DMPTF)BOEMFS
    ^
    ^DPEFQSF

    *OUIFGPMMPXJOHTOJQQFU TBNQ Q BOE LCE Q FMFNFOUTBSFNJYFEJOUIFDPOUFOUTPGB QSF Q FMFNFOUUPTIPXB
    TFTTJPOPG;PSL*

    QSFTBNQ:PVBSFJOBOPQFOGJFMEXFTUPGBCJHXIJUFIPVTFXJUIBCPBSEFE
    GSPOUEPPS
    5IFSFJTBTNBMMNBJMCPYIFSF

    TBNQLCEPQFONBJMCPYLCE

    TBNQ0QFOJOHUIFNBJMCPYSFWFBMT
    "MFBGMFU

    TBNQQSF

    5IFGPMMPXJOHTIPXTBDPOUFNQPSBSZQPFNUIBUVTFTUIF QSF Q FMFNFOUUPQSFTFSWFJUTVOVTVBMGPSNBUUJOH


    XIJDIGPSNTBOJOUSJOTJDQBSUPGUIFQPFNJUTFMG

    QSFNBYMJOH

    JUJTXJUIBIFBSU
    IFBWZ

    UIBUJBENJUMPTTPGBGFMJOF
    TPMPWFE

    BGSJFOEMPTUUPUIF
    VOLOPXO
    OJHIU

    _DESEFDQSF

       0B? =GJ>FLPJO@ ?F?G?HN

    
    ;N?AILC?M
    'MPXDPOUFOU Q 
    4FDUJPOJOHSPPU Q 
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    DJUF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*/PJO@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH DJUF
    ^

    *HM> 0A> '2+*/NHM>$E>F>GM I BGM>K?:<>BL:ELHNL>=;RMA> J I >E>F>GM

    5IF CMPDLRVPUF Q FMFNFOU SFQSFTFOUT Q BTFDUJPOUIBUJTRVPUFEGSPNBOPUIFSTPVSDF

    $POUFOUJOTJEFB CMPDLRVPUF Q NVTUCFRVPUFEGSPNBOPUIFSTPVSDF XIPTFBEESFTT JGJUIBTPOF TIPVMECFDJUFEJO


    UIF >DO@ BUUSJCVUF

    *GUIF DJUF Q BUUSJCVUFJTQSFTFOU JUNVTUCFB WBMJE63- Q  5PPCUBJOUIFDPSSFTQPOEJOHDJUBUJPOMJOL UIFWBMVFPGUIF


    BUUSJCVUFNVTUCF SFTPMWFE Q SFMBUJWFUPUIFFMFNFOU6TFSBHFOUTTIPVMEBMMPXVTFSTUPGPMMPXTVDIDJUBUJPOMJOLT

    5IF >DO@ *%-BUUSJCVUFNVTU SFЙFDU Q UIFFMFNFOUT DJUF DPOUFOUBUUSJCVUF

    5IJTOFYUFYBNQMFTIPXTUIFVTFPG DJUF Q BMPOHTJEF CMPDLRVPUF Q 

    Q)JTOFYUQJFDFXBTUIFBQUMZOBNFEDJUF4POOFUDJUFQ
    CMPDLRVPUFDJUFIUUQRVPUFTFYBNQMFPSHTTPOOFUIUNM
    Q.ZNJTUSFTTFZFTBSFOPUIJOHMJLFUIFTVO CS
    $PSBMJTGBSNPSFSFE UIBOIFSMJQTSFE CS
    

    5IJTFYBNQMFTIPXTIPXBGPSVNQPTUDPVMEVTF CMPDLRVPUF Q UPTIPXXIBUQPTUBVTFSJTSFQMZJOHUP5IF


    BSUJDMF Q FMFNFOUJTVTFEGPSFBDIQPTU UPNBSLVQUIFUISFBEJOH

    BSUJDMF
    IBISFGIUUQCBDPOFYBNQMFDPN CMPH#BDPOPOBDSPXCBSBI
    BSUJDMF
    IFBEFSTUSPOHUZXTUSPOHQPJOUTIPVSBHPIFBEFS
    Q*CFUBOBSXIBMXPVMEMPWFUIBUQ
    GPPUFSBISFG QJEQFSNBMJOLBGPPUFS
    BSUJDMF
    IFBEFSTUSPOHHSFHTUSPOHQPJOUTIPVSBHPIFBEFS
    CMPDLRVPUFQ*CFUBOBSXIBMXPVMEMPWFUIBUQCMPDLRVPUF
    Q%VEFOBSXIBMTEPOUFBUCBDPOQ
    GPPUFSBISFG QJEQFSNBMJOLBGPPUFS
    BSUJDMF
    IFBEFSTUSPOHUZXTUSPOHQPJOUTIPVSBHPIFBEFS
    CMPDLRVPUF
    CMPDLRVPUFQ*CFUBOBSXIBMXPVMEMPWFUIBUQCMPDLRVPUF
    Q%VEFOBSXIBMTEPOUFBUCBDPOQ
    CMPDLRVPUF
    Q/FYUUIJOHZPVMMCFTBZJOHUIFZEPOUHFUDBQFTBOEXJ[BSE
    IBUTFJUIFSQ
    GPPUFSBISFG QJEQFSNBMJOLBGPPUFS
    BSUJDMF
    BSUJDMF

    
    IFBEFSTUSPOHCPJOHTUSPOHQPJOUTIPVSBHPIFBEFS
    QOBSXIBMTBSFXPSTFUIBODFJMJOHDBUQ
    GPPUFSBISFG QJEQFSNBMJOLBGPPUFS
    BSUJDMF
    BSUJDMF
    BSUJDMF
    BSUJDMF
    BSUJDMF
    IFBEFSTUSPOHGSFETUSPOHQPJOUTNJOVUFTBHPIFBEFS
    CMPDLRVPUFQ*CFUBOBSXIBMXPVMEMPWFUIBUQCMPDLRVPUF
    Q*CFUUIFZEMPWFUPQFFMBCBOBOBUPPQ
    GPPUFSBISFG QJEQFSNBMJOLBGPPUFS
    BSUJDMF
    BSUJDMF
    BSUJDMF

    *HM> !Q:FIE>LH?AHPMHK>IK>L>GM:<HGO>KL:MBHG I :K>LAHPGBG:E:M>KL><MBHGBMBLGHM


    :IIKHIKB:M>MHNL>MA> <BM> I :G= ;EH<DJNHM> I >E>F>GML?HKMABLINKIHL>

       0B? JG ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    ;FSPPSNPSF MJ Q FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    SFWFSTFE Q
    TUBSU Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*-*DNO#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO SFWFSTFE
    BUUSJCVUFMPOH TUBSU
    ^

    5IF PM Q FMFNFOU SFQSFTFOUT Q BMJTUPGJUFNT XIFSFUIFJUFNTIBWFCFFOJOUFOUJPOBMMZPSEFSFE TVDIUIBUDIBOHJOH


    UIFPSEFSXPVMEDIBOHFUIFNFBOJOHPGUIFEPDVNFOU

    5IFJUFNTPGUIFMJTUBSFUIF MJ Q FMFNFOUDIJMEOPEFTPGUIF PM Q FMFNFOU JO USFFPSEFS Q 

    5IF M@Q@MN@? BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q *GQSFTFOU JUJOEJDBUFTUIBUUIFMJTUJTBEFTDFOEJOHMJTU    


    *G
    UIFBUUSJCVUFJTPNJUUFE UIFMJTUJTBOBTDFOEJOHMJTU    
    

    5IF NO<MO BUUSJCVUF JGQSFTFOU NVTUCFB WBMJEJOUFHFS Q HJWJOHUIFPSEJOBMWBMVFPGUIFИSTUMJTUJUFN

    *GUIF TUBSU Q BUUSJCVUFJTQSFTFOU VTFSBHFOUTNVTU QBSTFJUBTBOJOUFHFS Q JOPSEFSUPEFUFSNJOFUIFBUUSJCVUFT


    WBMVF5IFEFGBVMUWBMVF VTFEJGUIFBUUSJCVUFJTNJTTJOHPSJGUIFWBMVFDBOOPUCFDPOWFSUFEUPBOVNCFSBDDPSEJOHUP
    UIFSFGFSFODFEBMHPSJUIN JTJGUIFFMFNFOUIBTOP SFWFSTFE Q BUUSJCVUF BOEJTUIFOVNCFSPGDIJME MJ Q FMFNFOUT
    PUIFSXJTF

    5IFИSTUJUFNJOUIFMJTUIBTUIFPSEJOBMWBMVFHJWFOCZUIF PM Q FMFNFOUT TUBSU Q BUUSJCVUF VOMFTTUIBU MJ Q


    FMFNFOUIBTB WBMVF Q BUUSJCVUFXJUIBWBMVFUIBUDBOCFTVDDFTTGVMMZQBSTFE JOXIJDIDBTFJUIBTUIFPSEJOBMWBMVF
    HJWFOCZUIBU WBMVF Q BUUSJCVUF

    &BDITVCTFRVFOUJUFNJOUIFMJTUIBTUIFPSEJOBMWBMVFHJWFOCZJUT WBMVF Q BUUSJCVUF JGJUIBTPOF PS JGJUEPFTOU UIF


    PSEJOBMWBMVFPGUIFQSFWJPVTJUFN QMVTPOFJGUIF SFWFSTFE Q JTBCTFOU PSNJOVTPOFJGJUJTQSFTFOU

    5IF M@Q@MN@? *%-BUUSJCVUFNVTU SFЙFDU Q UIFWBMVFPGUIF SFWFSTFE Q DPOUFOUBUUSJCVUF

    
    5IF NO<MO *%-BUUSJCVUFNVTU SFЙFDU Q UIFWBMVFPGUIF TUBSU Q DPOUFOUBUUSJCVUF

    5IFGPMMPXJOHNBSLVQTIPXTBMJTUXIFSFUIFPSEFSNBUUFST BOEXIFSFUIF PM Q FMFNFOUJTUIFSFGPSF


    BQQSPQSJBUF$PNQBSFUIJTMJTUUPUIFFRVJWBMFOUMJTUJOUIF VM Q TFDUJPOUPTFFBOFYBNQMFPGUIFTBNFJUFNT
    VTJOHUIF VM Q FMFNFOU

    Q*IBWFMJWFEJOUIFGPMMPXJOHDPVOUSJFT HJWFOJOUIFPSEFSPGXIFO
    *GJSTUMJWFEUIFSF
    Q
    PM
    MJ4XJU[FSMBOE
    MJ6OJUFE,JOHEPN
    MJ6OJUFE4UBUFT
    MJ/PSXBZ
    PM

    /PUFIPXDIBOHJOHUIFPSEFSPGUIFMJTUDIBOHFTUIFNFBOJOHPGUIFEPDVNFOU*OUIFGPMMPXJOHFYBNQMF
    DIBOHJOHUIFSFMBUJWFPSEFSPGUIFИSTUUXPJUFNTIBTDIBOHFEUIFCJSUIQMBDFPGUIFBVUIPS

    Q*IBWFMJWFEJOUIFGPMMPXJOHDPVOUSJFT HJWFOJOUIFPSEFSPGXIFO
    *GJSTUMJWFEUIFSF
    Q
    PM
    MJ6OJUFE,JOHEPN
    MJ4XJU[FSMBOE
    MJ6OJUFE4UBUFT
    MJ/PSXBZ
    PM

       0B? PG ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    ;FSPPSNPSF MJ Q FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*3*DNO#G@H@IO  )5.-&MFNFOU \^

    5IF VM Q FMFNFOU SFQSFTFOUT Q BMJTUPGJUFNT XIFSFUIFPSEFSPGUIFJUFNTJTOPUJNQPSUBOUǡUIBUJT XIFSF


    DIBOHJOHUIFPSEFSXPVMEOPUNBUFSJBMMZDIBOHFUIFNFBOJOHPGUIFEPDVNFOU

    5IFJUFNTPGUIFMJTUBSFUIF MJ Q FMFNFOUDIJMEOPEFTPGUIF VM Q FMFNFOU

    5IFGPMMPXJOHNBSLVQTIPXTBMJTUXIFSFUIFPSEFSEPFTOPUNBUUFS BOEXIFSFUIF VM Q FMFNFOUJTUIFSFGPSF


    BQQSPQSJBUF$PNQBSFUIJTMJTUUPUIFFRVJWBMFOUMJTUJOUIF PM Q TFDUJPOUPTFFBOFYBNQMFPGUIFTBNFJUFNT
    VTJOHUIF PM Q FMFNFOU

    Q*IBWFMJWFEJOUIFGPMMPXJOHDPVOUSJFTQ
    VM
    MJ/PSXBZ
    MJ4XJU[FSMBOE
    MJ6OJUFE,JOHEPN
    MJ6OJUFE4UBUFT
    VM

    /PUFUIBUDIBOHJOHUIFPSEFSPGUIFMJTUEPFTOPUDIBOHFUIFNFBOJOHPGUIFEPDVNFOU5IFJUFNTJOUIFTOJQQFU
    BCPWFBSFHJWFOJOBMQIBCFUJDBMPSEFS CVUJOUIFTOJQQFUCFMPXUIFZBSFHJWFOJOPSEFSPGUIFTJ[FPGUIFJSDVSSFOU
    BDDPVOUCBMBODFJO XJUIPVUDIBOHJOHUIFNFBOJOHPGUIFEPDVNFOUXIBUTPFWFS

    Q*IBWFMJWFEJOUIFGPMMPXJOHDPVOUSJFTQ
    VM

    
    MJ4XJU[FSMBOE
    MJ/PSXBZ
    MJ6OJUFE,JOHEPN
    MJ6OJUFE4UBUFT
    VM

       0B? GD ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    *OTJEF PM Q FMFNFOUT
    *OTJEF VM Q FMFNFOUT
    *OTJEF NFOV Q FMFNFOUT

    IHN?HNGI>?F
    'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    *GUIFFMFNFOUJTBDIJMEPGBO PM Q FMFNFOU WBMVF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+**'#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFMPOH WBMVF
    ^

    5IF MJ Q FMFNFOU SFQSFTFOUT Q BMJTUJUFN*GJUTQBSFOUFMFNFOUJTBO PM Q VM Q PS NFOV Q FMFNFOU UIFOUIF
    FMFNFOUJTBOJUFNPGUIFQBSFOUFMFNFOUTMJTU BTEFИOFEGPSUIPTFFMFNFOUT0UIFSXJTF UIFMJTUJUFNIBTOPEFИOFE
    MJTUSFMBUFESFMBUJPOTIJQUPBOZPUIFS MJ Q FMFNFOU

    5IF Q<GP@ BUUSJCVUF JGQSFTFOU NVTUCFB WBMJEJOUFHFS Q HJWJOHUIFPSEJOBMWBMVFPGUIFMJTUJUFN

    *GUIF WBMVF Q BUUSJCVUFJTQSFTFOU VTFSBHFOUTNVTU QBSTFJUBTBOJOUFHFS Q JOPSEFSUPEFUFSNJOFUIFBUUSJCVUFT


    WBMVF*GUIFBUUSJCVUFTWBMVFDBOOPUCFDPOWFSUFEUPBOVNCFS UIFBUUSJCVUFNVTUCFUSFBUFEBTJGJUXBTBCTFOU5IF
    BUUSJCVUFIBTOPEFGBVMUWBMVF

    5IF WBMVF Q BUUSJCVUFJTQSPDFTTFESFMBUJWFUPUIFFMFNFOUTQBSFOU PM Q FMFNFOU RW


    JGUIFSFJTPOF*GUIFSFJT
    OPU UIFBUUSJCVUFIBTOPFЗFDU

    5IF Q<GP@ *%-BUUSJCVUFNVTU SFЙFDU Q UIFWBMVFPGUIF WBMVF Q DPOUFOUBUUSJCVUF

    5IFGPMMPXJOHFYBNQMF UIFUPQUFONPWJFTBSFMJTUFE JOSFWFSTFPSEFS


    /PUFUIFXBZUIFMJTUJTHJWFOBUJUMFCZ
    VTJOHB GJHVSF Q FMFNFOUBOEJUT GJHDBQUJPO Q FMFNFOU

    GJHVSF
    GJHDBQUJPO5IFUPQNPWJFTPGBMMUJNFGJHDBQUJPO
    PM
    MJWBMVFDJUF+PTJFBOEUIF1VTTZDBUTDJUF MJ
    MJWBMVFDJUFMBOHTInxvouoyso pqtruoywxDJUF MJ
    MJWBMVFDJUF"#VHT-JGFDJUF MJ
    MJWBMVFDJUF5PZ4UPSZDJUF MJ
    MJWBMVFDJUF.POTUFST *ODDJUF MJ
    MJWBMVFDJUF$BSTDJUF MJ
    MJWBMVFDJUF5PZ4UPSZDJUF MJ
    MJWBMVFDJUF'JOEJOH/FNPDJUF MJ
    MJWBMVFDJUF5IF*ODSFEJCMFTDJUF MJ
    MJWBMVFDJUF3BUBUPVJMMFDJUF MJ
    PM
    GJHVSF

    5IFNBSLVQDPVMEBMTPCFXSJUUFOBTGPMMPXT VTJOHUIF SFWFSTFE Q BUUSJCVUFPOUIF PM Q FMFNFOU

    GJHVSF
    GJHDBQUJPO5IFUPQNPWJFTPGBMMUJNFGJHDBQUJPO
    PMSFWFSTFE

    
    MJDJUF+PTJFBOEUIF1VTTZDBUTDJUF MJ
    MJDJUFMBOHTInxvouoyso pqtruoywxDJUF MJ
    MJDJUF"#VHT-JGFDJUF MJ
    MJDJUF5PZ4UPSZDJUF MJ
    MJDJUF.POTUFST *ODDJUF MJ
    MJDJUF$BSTDJUF MJ
    MJDJUF5PZ4UPSZDJUF MJ
    MJDJUF'JOEJOH/FNPDJUF MJ
    MJDJUF5IF*ODSFEJCMFTDJUF MJ
    MJDJUF3BUBUPVJMMFDJUF MJ
    PM
    GJHVSF

    *HM> %?MA> EB I >E>F>GMBLMA><ABE=H?: F>GN I >E>F>GM:G=BML>E?A:L:<ABE=MA:M=>[G>L:


    <HFF:G= I MA>GMA> EB I >E>F>GMPBEEF:M<AMA> >G:;E>= I :G= =BL:;E>= I IL>N=H
    <E:LL>L
    BGMA>L:F>P:R:LMA>[KLMLN<A<ABE=>E>F>GM=H>L

       0B? ?G ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    ;FSPPSNPSFHSPVQTFBDIDPOTJTUJOHPGPOFPSNPSF EU Q FMFNFOUTGPMMPXFECZPOFPSNPSF EE Q
    FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*"*DNO#G@H@IO  )5.-&MFNFOU \^

    5IF EM Q FMFNFOU SFQSFTFOUT Q BOBTTPDJBUJPOMJTUDPOTJTUJOHPG[FSPPSNPSFOBNFWBMVFHSPVQT BEFTDSJQUJPOMJTU


    
    &BDIHSPVQNVTUDPOTJTUPGPOFPSNPSFOBNFT EU Q FMFNFOUT
    GPMMPXFECZPOFPSNPSFWBMVFT EE Q FMFNFOUT
    
    8JUIJOBTJOHMF EM Q FMFNFOU UIFSFTIPVMEOPUCFNPSFUIBOPOF EU Q FMFNFOUGPSFBDIOBNF

    /BNFWBMVFHSPVQTNBZCFUFSNTBOEEFИOJUJPOT NFUBEBUBUPQJDTBOEWBMVFT PSBOZPUIFSHSPVQTPGOBNFWBMVF


    EBUB

    5IFWBMVFTXJUIJOBHSPVQBSFBMUFSOBUJWFTNVMUJQMFQBSBHSBQITGPSNJOHQBSUPGUIFTBNFWBMVFNVTUBMMCFHJWFO
    XJUIJOUIFTBNF EE Q FMFNFOU

    5IFPSEFSPGUIFMJTUPGHSPVQT BOEPGUIFOBNFTBOEWBMVFTXJUIJOFBDIHSPVQ NBZCFTJHOJИDBOU

    *GB EM Q FMFNFOUJTFNQUZ JUDPOUBJOTOPHSPVQT

    *GB EM Q FMFNFOUDPOUBJOTOPOXIJUFTQBDF Q UFYUOPEFT Q PSFMFNFOUTPUIFSUIBO EU Q BOE EE Q UIFOUIPTF
    FMFNFOUTPS UFYUOPEFT Q EPOPUGPSNQBSUPGBOZHSPVQTJOUIBU EM Q 

    *GB EM Q FMFNFOUDPOUBJOTPOMZ EU Q FMFNFOUT UIFOJUDPOTJTUTPGPOFHSPVQXJUIOBNFTCVUOPWBMVFT

    *GB EM Q FMFNFOUDPOUBJOTPOMZ EE Q FMFNFOUT UIFOJUDPOTJTUTPGPOFHSPVQXJUIWBMVFTCVUOPOBNFT

    *GB EM Q FMFNFOUTUBSUTXJUIPOFPSNPSF EE Q FMFNFOUT UIFOUIFИSTUHSPVQIBTOPBTTPDJBUFEOBNF

    *GB EM Q FMFNFOUFOETXJUIPOFPSNPSF EU Q FMFNFOUT UIFOUIFMBTUHSPVQIBTOPBTTPDJBUFEWBMVF

    *HM> 3A>G: =E I >E>F>GM=H>LGMF:M<ABML<HGM>GMFH=>E BMBLH?M>G=N>MH:<<B=>GM:EERNLBG@


    == I >E>F>GMLBGMA>IE:<>H? =M I >E>F>GML:G=OB<>O>KL: HG?HKF:G<><A><D>KL<:GLIHMLN<A
    FBLM:D>L:G=FB@AM;>:;E>MH:=OBL>:NMAHKLAHPMH<HKK><MERNL>MA>F:KDNI

    *OUIFGPMMPXJOHFYBNQMF POFFOUSZ "VUIPST


    JTMJOLFEUPUXPWBMVFT +PIOBOE-VLF
    

    
    EM
    EU"VUIPST
    EE+PIO
    EE-VLF
    EU&EJUPS
    EE'SBOL
    EM

    *OUIFGPMMPXJOHFYBNQMF POFEFИOJUJPOJTMJOLFEUPUXPUFSNT

    EM
    EUMBOHFO64EGODPMPSEGOEU
    EUMBOHFO(#EGODPMPVSEGOEU
    EE"TFOTBUJPOXIJDI JOIVNBOT
    EFSJWFTGSPNUIFBCJMJUZPG
    UIFGJOFTUSVDUVSFPGUIFFZFUPEJTUJOHVJTIUISFFEJGGFSFOUMZ
    GJMUFSFEBOBMZTFTPGBWJFXEE
    EM

    5IFGPMMPXJOHFYBNQMFJMMVTUSBUFTUIFVTFPGUIF EM Q FMFNFOUUPNBSLVQNFUBEBUBPGTPSUT"UUIFFOEPGUIF


    FYBNQMF POFHSPVQIBTUXPNFUBEBUBMBCFMT "VUIPSTBOE&EJUPST
    BOEUXPWBMVFT 3PCFSU3PUINBOBOE
    %BOJFM+BDLTPO
    

    EM
    EU-BTUNPEJGJFEUJNFEU
    EE5;EE
    EU3FDPNNFOEFEVQEBUFJOUFSWBMEU
    EETEE
    EU"VUIPSTEU
    EU&EJUPSTEU
    EE3PCFSU3PUINBOEE
    EE%BOJFM+BDLTPOEE
    EM

    5IFGPMMPXJOHFYBNQMFTIPXTUIF EM Q FMFNFOUVTFEUPHJWFBTFUPGJOTUSVDUJPOT5IFPSEFSPGUIFJOTUSVDUJPOT


    IFSFJTJNQPSUBOU JOUIFPUIFSFYBNQMFT UIFPSEFSPGUIFCMPDLTXBTOPUJNQPSUBOU
    

    Q%FUFSNJOFUIFWJDUPSZQPJOUTBTGPMMPXT VTFUIF
    GJSTUNBUDIJOHDBTF
    Q
    EM
    EU*GZPVIBWFFYBDUMZGJWFHPMEDPJOTEU
    EE:PVHFUGJWFWJDUPSZQPJOUTEE
    EU*GZPVIBWFPOFPSNPSFHPMEDPJOT BOEZPVIBWFPOFPSNPSFTJMWFSDPJOTEU
    EE:PVHFUUXPWJDUPSZQPJOUTEE
    EU*GZPVIBWFPOFPSNPSFTJMWFSDPJOTEU
    EE:PVHFUPOFWJDUPSZQPJOUEE
    EU0UIFSXJTFEU
    EE:PVHFUOPWJDUPSZQPJOUTEE
    EM

    5IFGPMMPXJOHTOJQQFUTIPXTB EM Q FMFNFOUCFJOHVTFEBTBHMPTTBSZ/PUFUIFVTFPG EGO Q UPJOEJDBUFUIF


    XPSECFJOHEFИOFE

    EM
    EUEGO"QBSUNFOUEGO OEU
    EE"OFYFDVUJPODPOUFYUHSPVQJOHPOFPSNPSFUISFBETXJUIPOFPS
    NPSF$0.PCKFDUTEE
    EUEGO'MBUEGO OEU
    EE"EFGMBUFEUJSFEE
    EUEGO)PNFEGO OEU
    EE5IFVTFSTMPHJOEJSFDUPSZEE
    EM

    *HM> 0A> =E I >E>F>GMBLBG:IIKHIKB:M>?HKF:KDBG@NI=B:EH@N> !Q:FIE>LH?AHPMHF:KDNI


    =B:EH@N> I :K>LAHPG;>EHP

    
       0B? ?O ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    #FGPSF EE Q PS EU Q FMFNFOUTJOTJEF EM Q FMFNFOUT

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF EU Q FMFNFOU SFQSFTFOUT Q UIFUFSN PSOBNF QBSUPGBUFSNEFTDSJQUJPOHSPVQJOBEFTDSJQUJPOMJTU EM Q


    FMFNFOU
    

    *HM> 0A> =M I >E>F>GMBML>E? PA>GNL>=BG: =E I >E>F>GM =H>LGHMBG=B<:M>MA:MBML<HGM>GML


    :K>:M>KF;>BG@=>[G>= ;NMMABL<:G;>BG=B<:M>=NLBG@MA> =?G I >E>F>GM

    5IJTFYBNQMFTIPXTBMJTUPGGSFRVFOUMZBTLFERVFTUJPOT B'"2
    NBSLFEVQVTJOHUIF EU Q FMFNFOUGPS
    RVFTUJPOTBOEUIF EE Q FMFNFOUGPSBOTXFST

    BSUJDMF
    I'"2I
    EM
    EU8IBUEPXFXBOU EU
    EE0VSEBUBEE
    EU8IFOEPXFXBOUJU EU
    EE/PXEE
    EU8IFSFJTJU EU
    EE8FBSFOPUTVSFEE
    EM
    BSUJDMF

       0B? ?? ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "GUFS EU Q PS EE Q FMFNFOUTJOTJEF EM Q FMFNFOUT

    IHN?HNGI>?F
    'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF EE Q FMFNFOU SFQSFTFOUT Q UIFEFTDSJQUJPO EFИOJUJPO PSWBMVF QBSUPGBUFSNEFTDSJQUJPOHSPVQJOBEFTDSJQUJPO


    MJTU EM Q FMFNFOU
    

    " EM Q DBOCFVTFEUPEFИOFBWPDBCVMBSZMJTU MJLFJOBEJDUJPOBSZ*OUIFGPMMPXJOHFYBNQMF FBDIFOUSZ HJWFO


    CZB EU Q XJUIB EGO Q IBTTFWFSBM EE Q T TIPXJOHUIFWBSJPVTQBSUTPGUIFEFИOJUJPO

    EM
    EUEGOIBQQJOFTTEGOEU
    EEDMBTTQSPOVODJBUJPOIfQOFTEE
    EEDMBTTQBSUPGTQFFDIJBCCSOBCCSJEE
    EE5IFTUBUFPGCFJOHIBQQZEE
    EE(PPEGPSUVOFTVDDFTTR0ICIBQQJOFTTC*UXPSLFEREE

    
    EUEGOSFKPJDFEGOEU
    EEDMBTTQSPOVODJBUJPOSJKPJTEE
    EEJDMBTTQBSUPGTQFFDIBCCSWJOUSBCCSJ5PCFEFMJHIUFEPOFTFMGEE
    EEJDMBTTQBSUPGTQFFDIBCCSWUSBCCSJ5PDBVTFPOFUPCFEFMJHIUFEEE
    EM

       0B? ADBPM@ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    4FDUJPOJOHSPPU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &JUIFS0OF GJHDBQUJPO Q FMFNFOUGPMMPXFECZ ЙPXDPOUFOU Q 
    0S 'MPXDPOUFOU Q GPMMPXFECZPOF GJHDBQUJPO Q FMFNFOU
    0S 'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF GJHVSF Q FMFNFOU SFQSFTFOUT Q TPNF ЙPXDPOUFOU Q PQUJPOBMMZXJUIBDBQUJPO UIBUJTTFMGDPOUBJOFEBOEJT
    UZQJDBMMZSFGFSFODFEBTBTJOHMFVOJUGSPNUIFNBJOЙPXPGUIFEPDVNFOU

    5IFFMFNFOUDBOUIVTCFVTFEUPBOOPUBUFJMMVTUSBUJPOT EJBHSBNT QIPUPT DPEFMJTUJOHT FUD UIBUBSFSFGFSSFEUPGSPN


    UIFNBJODPOUFOUPGUIFEPDVNFOU CVUUIBUDPVME XJUIPVUBЗFDUJOHUIFЙPXPGUIFEPDVNFOU CFNPWFEBXBZGSPN
    UIBUQSJNBSZDPOUFOU FHUPUIFTJEFPGUIFQBHF UPEFEJDBUFEQBHFT PSUPBOBQQFOEJY

    5IF ИSTU GJHDBQUJPO Q FMFNFOUDIJMEPGUIFFMFNFOU JGBOZ SFQSFTFOUTUIFDBQUJPOPGUIF GJHVSF Q FMFNFOUT
    DPOUFOUT*GUIFSFJTOPDIJME GJHDBQUJPO Q FMFNFOU UIFOUIFSFJTOPDBQUJPO

    5IJTFYBNQMFTIPXTUIF GJHVSF Q FMFNFOUUPNBSLVQBDPEFMJTUJOH

    Q*OBISFGMMJTUJOHBXFTFFUIFQSJNBSZDPSFJOUFSGBDF
    "1*EFDMBSBUJPOQ
    GJHVSFJEM
    GJHDBQUJPO-JTUJOH5IFQSJNBSZDPSFJOUFSGBDF"1*EFDMBSBUJPOGJHDBQUJPO
    QSFDPEFJOUFSGBDF1SJNBSZ$PSF\
    CPPMFBOWFSJGZ%BUB-JOF
    
    WPJETFOE%BUB JOTFRVFODFMUCZUFEBUB
    
    WPJEJOJU4FMG%FTUSVDU
    
    ^DPEFQSF
    GJHVSF
    Q5IF"1*JTEFTJHOFEUPVTF65'Q

    )FSFXFTFFB GJHVSF Q FMFNFOUUPNBSLVQBQIPUP

    GJHVSF
    JNHTSDCVCCMFTXPSLKQFH
    BMU#VCCMFT TJUUJOHJOIJTPGGJDFDIBJS XPSLTPOIJT
    MBUFTUQSPKFDUJOUFOUMZ
    GJHDBQUJPO#VCCMFTBUXPSLGJHDBQUJPO
    GJHVSF

    *OUIJTFYBNQMF XFTFFBOJNBHFUIBUJT =>C BИHVSF BTXFMMBTBOJNBHFBOEBWJEFPUIBUBSF

    I.BMJOLPTDPNJDTI

    Q5IJTDBTFDFOUFSFEPOTPNFTPSUPGJOUFMMFDUVBMQSPQFSUZ
    JOGSJOHFNFOUSFMBUFEUPBDPNJD TFF&YIJCJU"
    5IFTVJUTUBSUFE
    BGUFSBUSBJMFSFOEJOHXJUIUIFTFXPSET

    CMPDLRVPUF

    
    JNHTSDQSPNCMFNQBDLFEBDUJPOQOHBMU306()$01:1SPNCMFN1BDLFE"DUJPO
    CMPDLRVPUF

    QXBTBJSFE"MBXZFS BSNFEXJUIB#JHHFS/PUFCPPL MBVODIFEB


    QSFFNQUJWFTUSJLFVTJOHTOPXCBMMT"DPNQMFUFDPQZPGUIFUSBJMFSJT
    JODMVEFEXJUI&YIJCJU#

    GJHVSF
    JNHTSDFYBQOHBMU5XPTRVJHHMFTPOBEJSUZQJFDFPGQBQFS
    GJHDBQUJPO&YIJCJU"5IFBMMFHFEDJUFSPVHIDPQZDJUFDPNJDGJHDBQUJPO
    GJHVSF

    GJHVSF
    WJEFPTSDFYCNPWWJEFP
    GJHDBQUJPO&YIJCJU#5IFDJUF3PVHI$PQZDJUFUSBJMFSGJHDBQUJPO
    GJHVSF

    Q5IFDBTFXBTSFTPMWFEPVUPGDPVSU

    )FSF BQBSUPGBQPFNJTNBSLFEVQVTJOH GJHVSF Q 

    GJHVSF
    Q5XBTCSJMMJH BOEUIFTMJUIZUPWFTCS
    %JEHZSFBOEHJNCMFJOUIFXBCFCS
    "MMNJNTZXFSFUIFCPSPHPWFT CS
    "OEUIFNPNFSBUITPVUHSBCFQ
    GJHDBQUJPODJUF+BCCFSXPDLZDJUF GJSTUWFSTF
    -FXJT$BSSPMM GJHDBQUJPO
    GJHVSF

    *OUIJTFYBNQMF XIJDIDPVMECFQBSUPGBNVDIMBSHFSXPSLEJTDVTTJOHBDBTUMF UIFИHVSFIBTUISFFJNBHFTJOJU

    GJHVSF
    JNHTSDDBTUMFKQFHUJUMF&UDIJOH"OPOZNPVT DB
    BMU5IFDBTUMFIBTPOFUPXFS BOEBUBMMXBMMBSPVOEJU
    JNHTSDDBTUMFKQFHUJUMF0JMCBTFEQBJOUPODBOWBT.BSJB5PXMF 
    BMU5IFDBTUMFOPXIBTUXPUPXFSTBOEUXPXBMMT
    JNHTSDDBTUMFKQFHUJUMF'JMNQIPUPHSBQI1FUFS+BOLMF 
    BMU5IFDBTUMFMJFTJOSVJOT UIFPSJHJOBMUPXFSBMMUIBUSFNBJOTJOPOFQJFDF
    GJHDBQUJPO5IFDBTUMFUISPVHIUIFBHFT  BOESFTQFDUJWFMZGJHDBQUJPO
    GJHVSF

       0B? ADB><KODJI ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TUIFИSTUPSMBTUDIJMEPGB GJHVSF Q FMFNFOU

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF GJHDBQUJPO Q FMFNFOU SFQSFTFOUT Q BDBQUJPOPSMFHFOEGPSUIFSFTUPGUIFDPOUFOUTPGUIF GJHDBQUJPO Q


    FMFNFOUTQBSFOU GJHVSF Q FMFNFOU JGBOZ

       0B? ?DQ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 

    
    GPSNBU#MPDL DBOEJEBUF Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*"DQ#G@H@IO  )5.-&MFNFOU \^

    5IF EJW Q FMFNFOUIBTOPTQFDJBMNFBOJOHBUBMM*U SFQSFTFOUT Q JUTDIJMESFO*UDBOCFVTFEXJUIUIF DMBTT Q


    MBOH Q BOE UJUMF Q BUUSJCVUFTUPNBSLVQTFNBOUJDTDPNNPOUPBHSPVQPGDPOTFDVUJWFFMFNFOUT

    *HM> NMAHKL:K>LMKHG@ER>G<HNK:@>=MHOB>PMA> =BO I >E>F>GM:L:G>E>F>GMH?E:LMK>LHKM ?HK


    PA>GGHHMA>K>E>F>GMBLLNBM:;E> 1L>H?MA> =BO I >E>F>GMBGLM>:=H?FHK>:IIKHIKB:M>
    >E>F>GMLE>:=LMHIHHK:<<>LLB;BEBMR?HKK>:=>KL:G=IHHKF:BGM:BG:;BEBMR?HK:NMAHKL

    'PSFYBNQMF BCMPHQPTUXPVMECFNBSLFEVQVTJOH BSUJDMF Q BDIBQUFSVTJOH TFDUJPO Q BQBHFT


    OBWJHBUJPOBJETVTJOH OBW Q BOEBHSPVQPGGPSNDPOUSPMTVTJOH GJFMETFU Q 

    0OUIFPUIFSIBOE EJW Q FMFNFOUTDBOCFVTFGVMGPSTUZMJTUJDQVSQPTFTPSUPXSBQNVMUJQMFQBSBHSBQITXJUIJOB


    TFDUJPOUIBUBSFBMMUPCFBOOPUBUFEJOBTJNJMBSXBZ*OUIFGPMMPXJOHFYBNQMF XFTFF EJW Q FMFNFOUTVTFEBT
    BXBZUPTFUUIFMBOHVBHFPGUXPQBSBHSBQITBUPODF JOTUFBEPGTFUUJOHUIFMBOHVBHFPOUIFUXPQBSBHSBQI
    FMFNFOUTTFQBSBUFMZ

    BSUJDMFMBOHFO64
    I.ZVTFPGMBOHVBHFBOENZDBUTI
    Q.ZDBUTCFIBWJPSIBTOUDIBOHFENVDITJODFIFSBCTFODF FYDFQU
    UIBUTIFQMBZTIFSOFXQIZTJRVFUPUIFOFJHICPSTSFHVMBSMZ JOBO
    BUUFNQUUPHFUQFUTQ
    EJWMBOHFO(#
    Q.ZPUIFSDBU DPMPVSFECMBDLBOEXIJUF JTBTXFFUJF)FGPMMPXFE
    VTUPUIFQPPMUPEBZ XBMLJOHEPXOUIFQBWFNFOUXJUIVT:FTUFSEBZ
    IFBQQBSFOUMZWJTJUFEPVSOFJHICPVST*XPOEFSJGIFSFDPHOJTFTUIBU
    UIFJSGMBUJTBNJSSPSJNBHFPGPVSTQ
    Q)N *KVTUOPUJDFEUIBUJOUIFMBTUQBSBHSBQI*VTFE#SJUJTI
    &OHMJTI#VU*NTVQQPTFEUPXSJUFJO"NFSJDBO&OHMJTI4P*
    TIPVMEOUTBZQBWFNFOUPSGMBUPSDPMPVSQ
    EJW
    Q*TIPVMETBZTJEFXBMLBOEBQBSUNFOUBOEDPMPSQ
    BSUJDMF

      0?RN F?P?FM?G;HNC=M

       0B? < ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    8IFOUIFFMFNFOUPOMZDPOUBJOT QISBTJOHDPOUFOU Q  QISBTJOHDPOUFOU Q 
    *OUFSBDUJWFDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    5SBOTQBSFOU Q CVUUIFSFNVTUCFOP JOUFSBDUJWFDPOUFOU Q EFTDFOEBOU

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    
    ISFG Q
    UBSHFU Q
    QJOH Q
    SFM Q
    NFEJB Q
    ISFGMBOH Q
    UZQF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*I>CJM#G@H@IO  )5.-&MFNFOU \


    TUSJOHJGJFSBUUSJCVUF%0.4USJOH ISFG
    BUUSJCVUF%0.4USJOH UBSHFU

    BUUSJCVUF%0.4USJOH QJOH

    BUUSJCVUF%0.4USJOH SFM
    SFBEPOMZBUUSJCVUF %0.5PLFO-JTU SFM-JTU
    BUUSJCVUF%0.4USJOH NFEJB
    BUUSJCVUF%0.4USJOH ISFGMBOH
    BUUSJCVUF%0.4USJOH UZQF

    BUUSJCVUF%0.4USJOH UFYU

     63-EFDPNQPTJUJPO*%-BUUSJCVUFT
    BUUSJCVUF%0.4USJOH QSPUPDPM
    BUUSJCVUF%0.4USJOH IPTU
    BUUSJCVUF%0.4USJOH IPTUOBNF
    BUUSJCVUF%0.4USJOH QPSU
    BUUSJCVUF%0.4USJOH QBUIOBNF
    BUUSJCVUF%0.4USJOH TFBSDI
    BUUSJCVUF%0.4USJOH IBTI
    ^

    *GUIF B Q FMFNFOUIBTBO ISFG Q BUUSJCVUF UIFOJU SFQSFTFOUT Q B IZQFSMJOL Q BIZQFSUFYUBODIPS
    

    *GUIF B Q FMFNFOUIBTOP ISFG Q BUUSJCVUF UIFOUIFFMFNFOU SFQSFTFOUT Q BQMBDFIPMEFSGPSXIFSFBMJOLNJHIU
    PUIFSXJTFIBWFCFFOQMBDFE JGJUIBECFFOSFMFWBOU

    5IF UBSHFU Q QJOH Q SFM Q NFEJB Q ISFGMBOH Q BOE UZQF Q BUUSJCVUFTNVTUCFPNJUUFEJGUIF ISFG Q
    BUUSJCVUFJTOPUQSFTFOU

    *GBTJUFVTFTBDPOTJTUFOUOBWJHBUJPOUPPMCBSPOFWFSZQBHF UIFOUIFMJOLUIBUXPVMEOPSNBMMZMJOLUPUIFQBHF
    JUTFMGDPVMECFNBSLFEVQVTJOHBO B Q FMFNFOU

    OBW
    VM
    MJBISFG)PNFBMJ
    MJBISFGOFXT/FXTBMJ
    MJB&YBNQMFTBMJ
    MJBISFGMFHBM-FHBMBMJ
    VM
    OBW

    5IF ISFG Q UBSHFU Q BOE QJOH Q BUUSJCVUFTBЗFDUXIBUIBQQFOTXIFOVTFST GPMMPXIZQFSMJOLT Q DSFBUFEVTJOH
    UIF B Q FMFNFOU5IF SFM Q NFEJB Q ISFGMBOH Q BOE UZQF Q BUUSJCVUFTNBZCFVTFEUPJOEJDBUFUPUIFVTFSUIF
    MJLFMZOBUVSFPGUIFUBSHFUSFTPVSDFCFGPSFUIFVTFSGPMMPXTUIFMJOL

    5IF BDUJWBUJPOCFIBWJPS Q PG B Q FMFNFOUTUIBUSFQSFTFOU IZQFSMJOLT Q JTUPSVOUIFGPMMPXJOHTUFQT

     *GUIF %0."DUJWBUF Q FWFOUJORVFTUJPOJTOPU USVTUFE Q JFB DMJDL


    Q NFUIPEDBMMXBTUIFSFBTPOGPS
    UIFFWFOUCFJOHEJTQBUDIFE
    BOEUIF B Q FMFNFOUT UBSHFU Q BUUSJCVUFJTTVDIUIBUBQQMZJOH UIFSVMFTGPS
    DIPPTJOHBCSPXTJOHDPOUFYUHJWFOBCSPXTJOHDPOUFYUOBNF Q VTJOHUIFWBMVFPGUIF UBSHFU Q BUUSJCVUF
    BTUIFCSPXTJOHDPOUFYUOBNF XPVMESFTVMUJOUIFSFOPUCFJOHBDIPTFOCSPXTJOHDPOUFYU UIFOSBJTFBO
    */7"-*%@"$$&44@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

    
     *GUIFUBSHFUPGUIF DMJDL Q FWFOUJTBO JNH Q FMFNFOUXJUIBO JTNBQ Q BUUSJCVUFTQFDJИFE UIFOTFSWFS
    TJEFJNBHFNBQQSPDFTTJOHNVTUCFQFSGPSNFE BTGPMMPXT

     *GUIF %0."DUJWBUF Q FWFOUXBTEJTQBUDIFEBTUIFSFTVMUPGBSFBMQPJOUJOHEFWJDFUSJHHFSFE


    DMJDL Q FWFOUPOUIF JNH Q FMFNFOU UIFOMFU G CFUIFEJTUBODFJO$44QJYFMTGSPNUIFMFGUFEHF
    PGUIFJNBHFTMFGUCPSEFS JGJUIBTPOF PSUIFMFGUFEHFPGUIFJNBHFPUIFSXJTF UPUIFMPDBUJPOPG
    UIFDMJDL BOEMFU H CFUIFEJTUBODFJO$44QJYFMTGSPNUIFUPQFEHFPGUIFJNBHFTUPQCPSEFS JGJU
    IBTPOF PSUIFUPQFEHFPGUIFJNBHFPUIFSXJTF UPUIFMPDBUJPOPGUIFDMJDL0UIFSXJTF MFU G BOE H
    CF[FSP

     -FUUIF ARI>KEBGDLN]Q CFB6 '26&45*0/."3,DIBSBDUFS UIFWBMVFPG G FYQSFTTFEBTB


    CBTFUFOJOUFHFSVTJOH"4$**EJHJUT B6 $$0.."DIBSBDUFS
    BOEUIFWBMVFPG H FYQSFTTFE
    BTBCBTFUFOJOUFHFSVTJOH"4$**EJHJUT"4$**EJHJUTBSFUIFDIBSBDUFSTJOUIFSBOHF6 %*(*5
    ;&30 
    UP6 %*(*5/*/& 
    

     'JOBMMZ UIFVTFSBHFOUNVTU GPMMPXUIFIZQFSMJOL Q EFИOFECZUIF B Q FMFNFOU*GUIFTUFQTBCPWFEFИOFE


    B 7H?4A;8=:BDRG ?  UIFOUBLFUIBUJOUPBDDPVOUXIFOGPMMPXJOHUIFIZQFSMJOL

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    : O@SO
    4BNFBT UFYU$POUFOU Q 

    5IF*%-BUUSJCVUFT CM@A KDIB O<MB@O M@G H@?D< CM@AG<IB BOE OTK@ NVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOU
    BUUSJCVUFTPGUIFTBNFOBNF

    5IF*%-BUUSJCVUF M@G*DNO NVTU SFЙFDU Q UIF SFM Q DPOUFOUBUUSJCVUF

    5IF O@SO *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFTBNFWBMVFBTUIF UFYU$POUFOU Q *%-BUUSJCVUFPOUIFFMFNFOU


    BOEPOTFUUJOH NVTUBDUBTJGUIF UFYU$POUFOU Q *%-BUUSJCVUFPOUIFFMFNFOUIBECFFOTFUUPUIFOFXWBMVF

    5IF B Q FMFNFOUBMTPTVQQPSUTUIFDPNQMFNFOUPG 63-EFDPNQPTJUJPO*%-BUUSJCVUFT Q KMJOJ>JG CJNO KJMO


    CJNOI<H@ K<OCI<H@ N@<M>C BOE C<NC5IFTFNVTUGPMMPXUIFSVMFTHJWFOGPS63-EFDPNQPTJUJPO*%-BUUSJCVUFT XJUI
    UIF JOQVU Q CFJOHUIFSFTVMUPG SFTPMWJOH Q UIFFMFNFOUT ISFG Q BUUSJCVUFSFMBUJWFUPUIFFMFNFOU JGUIFSFJTTVDIBO
    BUUSJCVUFBOESFTPMWJOHJUJTTVDDFTTGVM PSUIFFNQUZTUSJOHPUIFSXJTFBOEUIF DPNNPOTFUUFSBDUJPO Q CFJOHUIFTBNF
    BTTFUUJOHUIFFMFNFOUT ISFG Q BUUSJCVUFUPUIFOFXPVUQVUWBMVF

    5IF B Q FMFNFOUNBZCFXSBQQFEBSPVOEFOUJSFQBSBHSBQIT MJTUT UBCMFT BOETPGPSUI FWFOFOUJSFTFDUJPOT TP


    MPOHBTUIFSFJTOPJOUFSBDUJWFDPOUFOUXJUIJO FHCVUUPOTPSPUIFSMJOLT
    5IJTFYBNQMFTIPXTIPXUIJTDBOCF
    VTFEUPNBLFBOFOUJSFBEWFSUJTJOHCMPDLJOUPBMJOL

    BTJEFDMBTTBEWFSUJTJOH
    I"EWFSUJTJOHI
    BISFGIUUQBEFYBNQMFDPN BEJEBNQQVCJE
    TFDUJPO
    I.FMMCMPNBUJDI
    Q5VSOBMMZPVSXJEHFUTJOUPNFMMCMPNTQ
    Q0OMZQMVTTIJQQJOHBOEIBOEMJOHQ
    TFDUJPO
    B
    BISFGIUUQBEFYBNQMFDPN BEJEBNQQVCJE
    TFDUJPO
    I5IF.FMMCMPN#SPXTFSI
    Q8FCCSPXTJOHBUUIFTQFFEPGMJHIUQ
    Q/PPUIFSCSPXTFSHPFTGBTUFSQ
    TFDUJPO
    B
    BTJEF

       0B? @H ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    
    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF FN Q FMFNFOU SFQSFTFOUT Q TUSFTTFNQIBTJTPGJUTDPOUFOUT

    5IFMFWFMPGFNQIBTJTUIBUBQBSUJDVMBSQJFDFPGDPOUFOUIBTJTHJWFOCZJUTOVNCFSPGBODFTUPS FN Q FMFNFOUT

    5IFQMBDFNFOUPGFNQIBTJTDIBOHFTUIFNFBOJOHPGUIFTFOUFODF5IFFMFNFOUUIVTGPSNTBOJOUFHSBMQBSUPGUIF
    DPOUFOU5IFQSFDJTFXBZJOXIJDIFNQIBTJTJTVTFEJOUIJTXBZEFQFOETPOUIFMBOHVBHF

    5IFTFFYBNQMFTTIPXIPXDIBOHJOHUIFFNQIBTJTDIBOHFTUIFNFBOJOH'JSTU BHFOFSBMTUBUFNFOUPGGBDU XJUI


    OPFNQIBTJT

    Q$BUTBSFDVUFBOJNBMTQ

    #ZFNQIBTJ[JOHUIFИSTUXPSE UIFTUBUFNFOUJNQMJFTUIBUUIFLJOEPGBOJNBMVOEFSEJTDVTTJPOJTJORVFTUJPO
    NBZCFTPNFPOFJTBTTFSUJOHUIBUEPHTBSFDVUF
    

    QFN$BUTFNBSFDVUFBOJNBMTQ

    .PWJOHUIFFNQIBTJTUPUIFWFSC POFIJHIMJHIUTUIBUUIFUSVUIPGUIFFOUJSFTFOUFODFJTJORVFTUJPO NBZCF


    TPNFPOFJTTBZJOHDBUTBSFOPUDVUF
    

    Q$BUTFNBSFFNDVUFBOJNBMTQ

    #ZNPWJOHJUUPUIFBEKFDUJWF UIFFYBDUOBUVSFPGUIFDBUTJTSFBTTFSUFE NBZCFTPNFPOFTVHHFTUFEDBUTXFSF


    <40= BOJNBMT
    

    Q$BUTBSFFNDVUFFNBOJNBMTQ

    4JNJMBSMZ JGTPNFPOFBTTFSUFEUIBUDBUTXFSFWFHFUBCMFT TPNFPOFDPSSFDUJOHUIJTNJHIUFNQIBTJ[FUIFMBTU


    XPSE

    Q$BUTBSFDVUFFNBOJNBMTFNQ

    #ZFNQIBTJ[JOHUIFFOUJSFTFOUFODF JUCFDPNFTDMFBSUIBUUIFTQFBLFSJTИHIUJOHIBSEUPHFUUIFQPJOUBDSPTT
    5IJTLJOEPGFNQIBTJTBMTPUZQJDBMMZBЗFDUTUIFQVODUVBUJPO IFODFUIFFYDMBNBUJPONBSLIFSF

    QFN$BUTBSFDVUFBOJNBMTFNQ

    "OHFSNJYFEXJUIFNQIBTJ[JOHUIFDVUFOFTTDPVMEMFBEUPNBSLVQTVDIBT

    QFN$BUTBSFFNDVUFFNBOJNBMTFNQ
    0A> >F I >E>F>GMBLGM:@>G>KB<BM:EB<L>E>F>GM /HF>MBF>L M>QMBLBGM>G=>=MHLM:G=HNM?KHF
    MA>K>LMH?MA>I:K:@K:IA :LB?BMP:LBG:=BZ>K>GMFHH=HKOHB<> "HKMABL MA> B I >E>F>GMBL
    FHK>:IIKHIKB:M>

    0A> >F I >E>F>GM:ELHBLGMBGM>G=>=MH<HGO>RBFIHKM:G<>?HKMA:MINKIHL> MA> LMKHG@ I


    >E>F>GMBLFHK>:IIKHIKB:M>

       0B? NOMJIB ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    
    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF TUSPOH Q FMFNFOU SFQSFTFOUT Q TUSPOHJNQPSUBODFGPSJUTDPOUFOUT

    5IFSFMBUJWFMFWFMPGJNQPSUBODFPGBQJFDFPGDPOUFOUJTHJWFOCZJUTOVNCFSPGBODFTUPS TUSPOH Q FMFNFOUTFBDI


    TUSPOH Q FMFNFOUJODSFBTFTUIFJNQPSUBODFPGJUTDPOUFOUT

    $IBOHJOHUIFJNQPSUBODFPGBQJFDFPGUFYUXJUIUIF TUSPOH Q FMFNFOUEPFTOPUDIBOHFUIFNFBOJOHPGUIFTFOUFODF

    )FSFJTBOFYBNQMFPGBXBSOJOHOPUJDFJOBHBNF XJUIUIFWBSJPVTQBSUTNBSLFEVQBDDPSEJOHUPIPXJNQPSUBOU
    UIFZBSF

    QTUSPOH8BSOJOHTUSPOH5IJTEVOHFPOJTEBOHFSPVT
    TUSPOH"WPJEUIFEVDLTTUSPOH5BLFBOZHPMEZPVGJOE
    TUSPOHTUSPOH%POPUUBLFBOZPGUIFEJBNPOETTUSPOH
    UIFZBSFFYQMPTJWFBOETUSPOHXJMMEFTUSPZBOZUIJOHXJUIJO
    UFONFUFSTTUSPOHTUSPOH:PVIBWFCFFOXBSOFEQ

       0B? NH<GG ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF TNBMM Q FMFNFOU SFQSFTFOUT Q TJEFDPNNFOUTTVDIBTTNBMMQSJOU

    *HM> /F:EEIKBGMMRIB<:EER?>:MNK>L=BL<E:BF>KL <:O>:ML E>@:EK>LMKB<MBHGL HK<HIRKB@AML /F:EE


    IKBGMBL:ELHLHF>MBF>LNL>=?HK:MMKB;NMBHG HK?HKL:MBL?RBG@EB<>GLBG@K>JNBK>F>GML

    *HM> 0A> LF:EE I >E>F>GM=H>LGHM=>


    >FIA:LBS>HKEHP>KMA>BFIHKM:G<>H?M>QM>FIA:LBS>=
    ;RMA> >F I >E>F>GMHKF:KD>=:LBFIHKM:GMPBMAMA> LMKHG@ I >E>F>GM 0HF:KDM>QM:LGHM
    >FIA:LBS>=HKBFIHKM:GM LBFIER=HGHMF:KDBMNIPBMAMA> >F I HK LMKHG@ I >E>F>GML
    K>LI><MBO>ER

    5IF TNBMM Q FMFNFOUTIPVMEOPUCFVTFEGPSFYUFOEFETQBOTPGUFYU TVDIBTNVMUJQMFQBSBHSBQIT MJTUT PSTFDUJPOTPG


    UFYU*UJTPOMZJOUFOEFEGPSTIPSUSVOTPGUFYU5IFUFYUPGBQBHFMJTUJOHUFSNTPGVTF GPSJOTUBODF XPVMEOPUCFB
    TVJUBCMFDBOEJEBUFGPSUIF TNBMM Q FMFNFOUJOTVDIBDBTF UIFUFYUJTOPUBTJEFDPNNFOU JUJTUIFNBJODPOUFOUPG
    UIFQBHF

    *OUIJTFYBNQMFUIFGPPUFSDPOUBJOTDPOUBDUJOGPSNBUJPOBOEBDPQZSJHIUOPUJDF

    GPPUFS
    BEESFTT

    
    'PSNPSFEFUBJMT DPOUBDU
    BISFGNBJMUPKT!FYBNQMFDPN+PIO4NJUIB
    BEESFTT
    QTNBMMaDPQZSJHIU&YBNQMF$PSQTNBMMQ
    GPPUFS

    *OUIJTTFDPOEFYBNQMF UIF TNBMM Q FMFNFOUJTVTFEGPSBTJEFDPNNFOUJOBOBSUJDMF

    Q&YBNQMF$PSQUPEBZBOOPVODFESFDPSEQSPGJUTGPSUIF
    TFDPOERVBSUFSTNBMM 'VMM%JTDMPTVSF'PP/FXTJTBTVCTJEJBSZPG
    &YBNQMF$PSQ
    TNBMM MFBEJOHUPTQFDVMBUJPOBCPVUBUIJSERVBSUFS
    NFSHFSXJUI%FNP(SPVQQ

    5IJTJTEJTUJODUGSPNBTJEFCBS XIJDINJHIUCFNVMUJQMFQBSBHSBQITMPOHBOEJTSFNPWFEGSPNUIFNBJOЙPXPG
    UFYU*OUIFGPMMPXJOHFYBNQMF XFTFFBTJEFCBSGSPNUIFTBNFBSUJDMF5IJTTJEFCBSBMTPIBTTNBMMQSJOU
    JOEJDBUJOHUIFTPVSDFPGUIFJOGPSNBUJPOJOUIFTJEFCBS

    BTJEF
    I&YBNQMF$PSQI
    Q5IJTDPNQBOZNPTUMZDSFBUFTTNBMMTPGUXBSFBOE8FC
    TJUFTQ
    Q5IF&YBNQMF$PSQDPNQBOZNJTTJPOJT5PQSPWJEFFOUFSUBJONFOU
    BOEOFXTPOBTBNQMFCBTJTQ
    QTNBMM*OGPSNBUJPOPCUBJOFEGSPNB
    ISFGIUUQFYBNQMFDPNBCPVUIUNMFYBNQMFDPNBIPNF
    QBHFTNBMMQ
    BTJEF

    *OUIJTMBTUFYBNQMF UIF TNBMM Q FMFNFOUJTNBSLFEBTCFJOH 8<?>AC0=C TNBMMQSJOU

    QTUSPOHTNBMM$POUJOVFEVTFPGUIJTTFSWJDFXJMMSFTVMUJOB
    LJTTTNBMMTUSPOHQ

       0B? >DO@ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF DJUF Q FMFNFOU SFQSFTFOUT Q UIFUJUMFPGBXPSL FHBCPPL BQBQFS BOFTTBZ BQPFN BTDPSF BTPOH B
    TDSJQU BИMN B57TIPX BHBNF BTDVMQUVSF BQBJOUJOH BUIFBUSFQSPEVDUJPO BQMBZ BOPQFSB BNVTJDBM BO
    FYIJCJUJPO BMFHBMDBTFSFQPSU FUD
    5IJTDBOCFBXPSLUIBUJTCFJOHRVPUFEPSSFGFSFODFEJOEFUBJM JFBDJUBUJPO
    PSJU
    DBOKVTUCFBXPSLUIBUJTNFOUJPOFEJOQBTTJOH

    "QFSTPOTOBNFJTOPUUIFUJUMFPGBXPSLǡFWFOJGQFPQMFDBMMUIBUQFSTPOBQJFDFPGXPSLǡBOEUIFFMFNFOUNVTU
    UIFSFGPSFOPUCFVTFEUPNBSLVQQFPQMFTOBNFT *OTPNFDBTFT UIF C Q FMFNFOUNJHIUCFBQQSPQSJBUFGPSOBNFT
    FHJOBHPTTJQBSUJDMFXIFSFUIFOBNFTPGGBNPVTQFPQMFBSFLFZXPSETSFOEFSFEXJUIBEJЗFSFOUTUZMFUPESBX
    BUUFOUJPOUPUIFN*OPUIFSDBTFT JGBOFMFNFOUJT A40;;H OFFEFE UIF TQBO Q FMFNFOUDBOCFVTFE

    5IJTOFYUFYBNQMFTIPXTBUZQJDBMVTFPGUIF DJUF Q FMFNFOU

    Q.ZGBWPSJUFCPPLJTDJUF5IF3FBMJUZ%ZTGVODUJPODJUFCZ
    1FUFS')BNJMUPO.ZGBWPSJUFDPNJDJTDJUF1FBSMT#FGPSF
    4XJOFDJUFCZ4UFQIBO1BTUJT.ZGBWPSJUFUSBDLJTDJUF+JWF
    4BNCBDJUFCZUIF$BOOPOCBMM"EEFSMFZ4FYUFUQ

    
    5IJTJTDPSSFDUVTBHF

    Q"DDPSEJOHUPUIF8JLJQFEJBBSUJDMFDJUF)5.-DJUF BTJU
    TUPPEJONJE'FCSVBSZ MFBWJOHBUUSJCVUFWBMVFTVORVPUFEJT
    VOTBGF5IJTJTPCWJPVTMZBOPWFSTJNQMJGJDBUJPOQ

    5IFGPMMPXJOH IPXFWFS JTJODPSSFDUVTBHF BTUIF DJUF Q FMFNFOUIFSFJTDPOUBJOJOHGBSNPSFUIBOUIFUJUMFPG


    UIFXPSL

    EPOPUDPQZUIJTFYBNQMF JUJTBOFYBNQMFPGCBEVTBHF
    Q"DDPSEJOHUPDJUFUIF8JLJQFEJBBSUJDMFPO)5.-DJUF BTJU
    TUPPEJONJE'FCSVBSZ MFBWJOHBUUSJCVUFWBMVFTVORVPUFEJT
    VOTBGF5IJTJTPCWJPVTMZBOPWFSTJNQMJGJDBUJPOQ

    5IF DJUF Q FMFNFOUJTPCWJPVTMZBLFZQBSUPGBOZDJUBUJPOJOBCJCMJPHSBQIZ CVUJUJTPOMZVTFEUPNBSLUIF


    UJUMF

    QDJUF6OJWFSTBM%FDMBSBUJPOPG)VNBO3JHIUTDJUF 6OJUFE/BUJPOT
    %FDFNCFS"EPQUFECZ(FOFSBM"TTFNCMZSFTPMVUJPO" ***
    Q

    *HM>  <BM:MBHG BLGHM: JNHM> ?HKPAB<AMA> J I >E>F>GMBL:IIKHIKB:M>

    5IJTJTJODPSSFDUVTBHF CFDBVTF DJUF Q JTOPUGPSRVPUFT

    QDJUF5IJTJTXSPOHDJUF TBJE*BOQ

    5IJTJTBMTPJODPSSFDUVTBHF CFDBVTFBQFSTPOJTOPUBXPSL

    QR5IJTJTTUJMMXSPOHR TBJEDJUF*BODJUFQ

    5IFDPSSFDUVTBHFEPFTOPUVTFB DJUF Q FMFNFOU

    QR5IJTJTDPSSFDUR TBJE*BOQ

    "TNFOUJPOFEBCPWF UIF C Q FMFNFOUNJHIUCFSFMFWBOUGPSNBSLJOHOBNFTBTCFJOHLFZXPSETJODFSUBJOLJOET


    PGEPDVNFOUT

    Q"OEUIFOC*BOCTBJERUIJTNJHIUCFSJHIU JOB
    HPTTJQDPMVNO NBZCFRQ

       0B? L ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    DJUF Q

    +)CHN?L@;=?
    6TFT )5.-2VPUF&MFNFOU Q 

    5IF R Q FMFNFOU SFQSFTFOUT Q TPNF QISBTJOHDPOUFOU Q RVPUFEGSPNBOPUIFSTPVSDF

    2VPUBUJPOQVODUVBUJPO TVDIBTRVPUBUJPONBSLT
    UIBUJTRVPUJOHUIFDPOUFOUTPGUIFFMFNFOUNVTUOPUBQQFBS
    JNNFEJBUFMZCFGPSF BGUFS PSJOTJEF R Q FMFNFOUTUIFZXJMMCFJOTFSUFEJOUPUIFSFOEFSJOHCZUIFVTFSBHFOU

    $POUFOUJOTJEFB R Q FMFNFOUNVTUCFRVPUFEGSPNBOPUIFSTPVSDF XIPTFBEESFTT JGJUIBTPOF TIPVMECFDJUFEJO


    UIF >DO@ BUUSJCVUF5IFTPVSDFNBZCFИDUJPOBM BTXIFORVPUJOHDIBSBDUFSTJOBOPWFMPSTDSFFOQMBZ

    
    *GUIF DJUF Q BUUSJCVUFJTQSFTFOU JUNVTUCFB WBMJE63- Q  5PPCUBJOUIFDPSSFTQPOEJOHDJUBUJPOMJOL UIFWBMVFPGUIF
    BUUSJCVUFNVTUCF SFTPMWFE Q SFMBUJWFUPUIFFMFNFOU6TFSBHFOUTTIPVMEBMMPXVTFSTUPGPMMPXTVDIDJUBUJPOMJOLT

    5IF R Q FMFNFOUNVTUOPUCFVTFEJOQMBDFPGRVPUBUJPONBSLTUIBUEPOPUSFQSFTFOURVPUFTGPSFYBNQMF JUJT


    JOBQQSPQSJBUFUPVTFUIF R Q FMFNFOUGPSNBSLJOHVQTBSDBTUJDTUBUFNFOUT

    5IFVTFPG R Q FMFNFOUTUPNBSLVQRVPUBUJPOTJTFOUJSFMZPQUJPOBMVTJOHFYQMJDJURVPUBUJPOQVODUVBUJPOXJUIPVU R Q


    FMFNFOUTJTKVTUBTDPSSFDU

    )FSFJTBTJNQMFFYBNQMFPGUIFVTFPGUIF R Q FMFNFOU

    Q5IFNBOTBJER5IJOHTUIBUBSFJNQPTTJCMFKVTUUBLF
    MPOHFSR*EJTBHSFFEXJUIIJNQ

    )FSFJTBOFYBNQMFXJUICPUIBOFYQMJDJUDJUBUJPOMJOLJOUIF R Q FMFNFOU BOEBOFYQMJDJUDJUBUJPOPVUTJEF

    Q5IF8$QBHFDJUF"CPVU8$DJUFTBZTUIF8$T
    NJTTJPOJTRDJUFIUUQXXXXPSH$POTPSUJVN5PMFBEUIF
    8PSME8JEF8FCUPJUTGVMMQPUFOUJBMCZEFWFMPQJOHQSPUPDPMTBOE
    HVJEFMJOFTUIBUFOTVSFMPOHUFSNHSPXUIGPSUIF8FCR*
    EJTBHSFFXJUIUIJTNJTTJPOQ

    *OUIFGPMMPXJOHFYBNQMF UIFRVPUBUJPOJUTFMGDPOUBJOTBRVPUBUJPO

    Q*ODJUF&YBNQMF0OFDJUF IFXSJUFTR5IFNBO
    TBJER5IJOHTUIBUBSFJNQPTTJCMFKVTUUBLFMPOHFSR*
    EJTBHSFFEXJUIIJNR8FMM *EJTBHSFFFWFONPSFQ

    *OUIFGPMMPXJOHFYBNQMF RVPUBUJPONBSLTBSFVTFEJOTUFBEPGUIF R Q FMFNFOU

    Q)JTCFTUBSHVNFOUXBT*EJTBHSFF‚ XIJDI
    *UIPVHIUXBTMBVHIBCMFQ

    *OUIFGPMMPXJOHFYBNQMF UIFSFJTOPRVPUFǡUIFRVPUBUJPONBSLTBSFVTFEUPOBNFBXPSE6TFPGUIF R Q


    FMFNFOUJOUIJTDBTFXPVMECFJOBQQSPQSJBUF

    Q5IFXPSEJOFGGBCMFDPVMEIBWFCFFOVTFEUPEFTDSJCFUIFEJTBTUFS
    SFTVMUJOHGSPNUIFDBNQBJHOTNJTNBOBHFNFOUQ

       0B? ?AI ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q CVUUIFSFNVTUCFOP EGO Q FMFNFOUEFTDFOEBOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    "MTP UIF UJUMF Q BUUSJCVUFIBTTQFDJBMTFNBOUJDTPOUIJTFMFNFOU

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF EGO Q FMFNFOU SFQSFTFOUT Q UIFEFИOJOHJOTUBODFPGBUFSN5IF QBSBHSBQI Q EFTDSJQUJPOMJTUHSPVQ Q PS
    TFDUJPO Q UIBUJTUIFOFBSFTUBODFTUPSPGUIF EGO Q FMFNFOUNVTUBMTPDPOUBJOUIFEFИOJUJPO T
    GPSUIF UFSN Q HJWFO
    CZUIF EGO Q FMFNFOU

    ?]HCHAN?LG*GUIF EGO Q FMFNFOUIBTB ODOG@ BUUSJCVUF UIFOUIFFYBDUWBMVFPGUIBUBUUSJCVUFJTUIFUFSNCFJOH


    EFИOFE0UIFSXJTF JGJUDPOUBJOTFYBDUMZPOFFMFNFOUDIJMEOPEFBOEOPDIJME UFYUOPEFT Q BOEUIBUDIJMEFMFNFOUJT
    BO BCCS Q FMFNFOUXJUIB UJUMF Q BUUSJCVUF UIFOUIFFYBDUWBMVFPG C70C BUUSJCVUFJTUIFUFSNCFJOHEFИOFE
    0UIFSXJTF JUJTUIFFYBDU UFYU$POUFOU Q PGUIF EGO Q FMFNFOUUIBUHJWFTUIFUFSNCFJOHEFИOFE

    *GUIF UJUMF Q BUUSJCVUFPGUIF EGO Q FMFNFOUJTQSFTFOU UIFOJUNVTUDPOUBJOPOMZUIFUFSNCFJOHEFИOFE

    
    *HM> 0A> MBME> I :MMKB;NM>H?:G<>LMHK>E>F>GML=H>LGHM:Z><M =?G I >E>F>GML

    "O B Q FMFNFOUUIBUMJOLTUPB EGO Q FMFNFOUSFQSFTFOUTBOJOTUBODFPGUIFUFSNEFИOFECZUIF EGO Q FMFNFOU

    *OUIFGPMMPXJOHGSBHNFOU UIFUFSN(%0JTИSTUEFИOFEJOUIFИSTUQBSBHSBQI UIFOVTFEJOUIFTFDPOE

    Q5IFEGOBCCSUJUMF(BSBHF%PPS0QFOFS(%0BCCSEGO
    JTBEFWJDFUIBUBMMPXTPGGXPSMEUFBNTUPPQFOUIFJSJTQ
    MBUFSJOUIFEPDVNFOU
    Q5FBMDBDUJWBUFEIJTBCCSUJUMF(BSBHF%PPS0QFOFS(%0BCCS
    BOETP)BNNPOEPSEFSFEUIFJSJTUPCFPQFOFEQ

    8JUIUIFBEEJUJPOPGBO B Q FMFNFOU UIFSFGFSFODFDBOCFNBEFFYQMJDJU

    Q5IFEGOJEHEPBCCSUJUMF(BSBHF%PPS0QFOFS(%0BCCSEGO
    JTBEFWJDFUIBUBMMPXTPGGXPSMEUFBNTUPPQFOUIFJSJTQ
    MBUFSJOUIFEPDVNFOU
    Q5FBMDBDUJWBUFEIJTBISFGHEPBCCSUJUMF(BSBHF%PPS0QFOFS(%0BCCSB
    BOETP)BNNPOEPSEFSFEUIFJSJTUPCFPQFOFEQ

       0B? <==M ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    "MTP UIF UJUMF Q BUUSJCVUFIBTTQFDJBMTFNBOUJDTPOUIJTFMFNFOU

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF BCCS Q FMFNFOU SFQSFTFOUT Q BOBCCSFWJBUJPOPSBDSPOZN PQUJPOBMMZXJUIJUTFYQBOTJPO5IF ODOG@ BUUSJCVUF
    NBZCFVTFEUPQSPWJEFBOFYQBOTJPOPGUIFBCCSFWJBUJPO5IFBUUSJCVUF JGTQFDJИFE NVTUDPOUBJOBOFYQBOTJPOPGUIF
    BCCSFWJBUJPO BOEOPUIJOHFMTF

    5IFQBSBHSBQICFMPXDPOUBJOTBOBCCSFWJBUJPONBSLFEVQXJUIUIF BCCS Q FMFNFOU5IJTQBSBHSBQI EFИOFTUIF


    UFSN Q 8FC)ZQFSUFYU"QQMJDBUJPO5FDIOPMPHZ8PSLJOH(SPVQ

    Q5IFEGOJEXIBUXHBCCS
    UJUMF8FC)ZQFSUFYU"QQMJDBUJPO5FDIOPMPHZ8PSLJOH(SPVQ8)"58(BCCSEGO
    JTBMPPTFVOPGGJDJBMDPMMBCPSBUJPOPG8FCCSPXTFSNBOVGBDUVSFSTBOE
    JOUFSFTUFEQBSUJFTXIPXJTIUPEFWFMPQOFXUFDIOPMPHJFTEFTJHOFEUP
    BMMPXBVUIPSTUPXSJUFBOEEFQMPZ"QQMJDBUJPOTPWFSUIF8PSME8JEF
    8FCQ

    "OBMUFSOBUJWFXBZUPXSJUFUIJTXPVMECF

    Q5IFEGOJEXIBUXH8FC)ZQFSUFYU"QQMJDBUJPO5FDIOPMPHZ
    8PSLJOH(SPVQEGO BCCS
    UJUMF8FC)ZQFSUFYU"QQMJDBUJPO5FDIOPMPHZ8PSLJOH(SPVQ8)"58(BCCS

    JTBMPPTFVOPGGJDJBMDPMMBCPSBUJPOPG8FCCSPXTFSNBOVGBDUVSFSTBOE
    JOUFSFTUFEQBSUJFTXIPXJTIUPEFWFMPQOFXUFDIOPMPHJFTEFTJHOFEUP
    BMMPXBVUIPSTUPXSJUFBOEEFQMPZ"QQMJDBUJPOTPWFSUIF8PSME8JEF
    8FCQ

    5IJTQBSBHSBQIIBTUXPBCCSFWJBUJPOT/PUJDFIPXPOMZPOFJTEFИOFEUIFPUIFS XJUIOPFYQBOTJPOBTTPDJBUFE
    XJUIJU EPFTOPUVTFUIF BCCS Q FMFNFOU

    
    Q5IF
    BCCSUJUMF8FC)ZQFSUFYU"QQMJDBUJPO5FDIOPMPHZ8PSLJOH(SPVQ8)"58(BCCS
    TUBSUFEXPSLJOHPO)5.-JOQ

    5IJTQBSBHSBQIMJOLTBOBCCSFWJBUJPOUPJUTEFИOJUJPO

    Q5IFBISFGXIBUXHBCCS
    UJUMF8FC)ZQFSUFYU"QQMJDBUJPO5FDIOPMPHZ8PSLJOH(SPVQ8)"58(BCCSB
    DPNNVOJUZEPFTOPUIBWFNVDISFQSFTFOUBUJPOGSPN"TJBQ

    5IJTQBSBHSBQINBSLTVQBOBCCSFWJBUJPOXJUIPVUHJWJOHBOFYQBOTJPO QPTTJCMZBTBIPPLUPBQQMZTUZMFTGPS
    BCCSFWJBUJPOT FHTNBMMDBQT
    

    Q1IJMJQABOE%BTIJWBCPUIEFOJFEUIBUUIFZXFSFHPJOHUP
    HFUUIFJTTVFDPVOUTGSPNQBTUSFWJTJPOTPGUIFTQFDJGJDBUJPOUP
    CBDLGJMMUIFBCCS8)"58(BCCSJTTVFHSBQIQ

    *GBOBCCSFWJBUJPOJTQMVSBMJ[FE UIFFYQBOTJPOTHSBNNBUJDBMOVNCFS QMVSBMWTTJOHVMBS


    NVTUNBUDIUIFHSBNNBUJDBM
    OVNCFSPGUIFDPOUFOUTPGUIFFMFNFOU

    )FSFUIFQMVSBMJTPVUTJEFUIFFMFNFOU TPUIFFYQBOTJPOJTJOUIFTJOHVMBS

    Q5XPBCCSUJUMF8PSLJOH(SPVQ8(BCCSTXPSLFEPO
    UIJTTQFDJGJDBUJPOUIFBCCS8)"58(BCCSBOEUIF
    BCCS)5.-8(BCCSQ

    )FSFUIFQMVSBMJTJOTJEFUIFFMFNFOU TPUIFFYQBOTJPOJTJOUIFQMVSBM

    Q5XPBCCSUJUMF8PSLJOH(SPVQT8(TBCCSXPSLFEPO
    UIJTTQFDJGJDBUJPOUIFBCCS8)"58(BCCSBOEUIF
    BCCS)5.-8(BCCSQ

    "CCSFWJBUJPOTEPOPUIBWFUPCFNBSLFEVQVTJOHUIJTFMFNFOU*UJTFYQFDUFEUPCFVTFGVMJOUIFGPMMPXJOHDBTFT

    Ǭ "CCSFWJBUJPOTGPSXIJDIUIFBVUIPSXBOUTUPHJWFFYQBOTJPOT XIFSFVTJOHUIF BCCS Q FMFNFOUXJUIB


    UJUMF Q BUUSJCVUFJTBOBMUFSOBUJWFUPJODMVEJOHUIFFYQBOTJPOJOMJOF FHJOQBSFOUIFTFT
    

    Ǭ "CCSFWJBUJPOTUIBUBSFMJLFMZUPCFVOGBNJMJBSUPUIFEPDVNFOUTSFBEFST GPSXIJDIBVUIPSTBSFFODPVSBHFEUP
    FJUIFSNBSLVQUIFBCCSFWJBUJPOVTJOHB BCCS Q FMFNFOUXJUIB UJUMF Q BUUSJCVUFPSJODMVEFUIFFYQBOTJPO
    JOMJOFJOUIFUFYUUIFИSTUUJNFUIFBCCSFWJBUJPOJTVTFE

    Ǭ "CCSFWJBUJPOTXIPTFQSFTFODFOFFETUPCFTFNBOUJDBMMZBOOPUBUFE FHTPUIBUUIFZDBOCFJEFOUJИFEGSPNB
    TUZMFTIFFUBOEHJWFOTQFDJИDTUZMFT GPSXIJDIUIF BCCS Q FMFNFOUDBOCFVTFEXJUIPVUB UJUMF Q
    BUUSJCVUF

    1SPWJEJOHBOFYQBOTJPOJOB UJUMF Q BUUSJCVUFPODFXJMMOPUOFDFTTBSJMZDBVTFPUIFS BCCS Q FMFNFOUTJOUIFTBNF


    EPDVNFOUXJUIUIFTBNFDPOUFOUTCVUXJUIPVUB UJUMF Q BUUSJCVUFUPCFIBWFBTJGUIFZIBEUIFTBNFFYQBOTJPO&WFSZ
    BCCS Q FMFNFOUJTJOEFQFOEFOU

       0B? ODH@ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q CVUUIFSFNVTUCFOP UJNF Q FMFNFOUEFTDFOEBOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    EBUFUJNF Q
    QVCEBUF Q

    
    +)CHN?L@;=?

    JOUFSGBDF &2+*2DH@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH EBUF5JNF
    BUUSJCVUFCPPMFBO QVC%BUF
    SFBEPOMZBUUSJCVUF %BUF WBMVF"T%BUF
    ^

    5IF UJNF Q FMFNFOU SFQSFTFOUT Q FJUIFSBUJNFPOBIPVSDMPDL PSBQSFDJTFEBUFJOUIFQSPMFQUJD(SFHPSJBO


    DBMFOEBS PQUJPOBMMZXJUIBUJNFBOEBUJNF[POFPЗTFU <(3&(03*"/> Q

    5IJTFMFNFOUJTJOUFOEFEBTBXBZUPFODPEFNPEFSOEBUFTBOEUJNFTJOBNBDIJOFSFBEBCMFXBZTPUIBU GPSFYBNQMF
    VTFSBHFOUTDBOPЗFSUPBEECJSUIEBZSFNJOEFSTPSTDIFEVMFEFWFOUTUPUIFVTFSTDBMFOEBS

    0A> MBF> I >E>F>GMBLGHMBGM>G=>=?HK>G<H=BG@MBF>L?HKPAB<A:IK><BL>=:M>HKMBF><:GGHM;>


    >LM:;EBLA>= "HK>Q:FIE> BMPHNE=;>BG:IIKHIKB:M>?HK>G<H=BG@MBF>LEBD>HG>FBEEBL><HG=:?M>K
    MA>;B@;:G@ MA>>:KERI:KMH?MA>&NK:LLB<I>KBH= HK:PBGM>K:KHNG= !

    "HK=:M>L;>?HK>MA>BGMKH=N<MBHGH?MA>#K>@HKB:G<:E>G=:K :NMAHKL:K>>G<HNK:@>=MHGHMNL>
    MA> MBF> I >E>F>GM HK>EL>MH;>O>KR<:K>?NE:;HNM<HGO>KMBG@=:M>L:G=MBF>L?KHFMA>I>KBH=
    MHMA>#K>@HKB:G<:E>G=:K 0ABLBL<HFIEB<:M>=;RMA>F:GG>KBGPAB<AMA>#K>@HKB:G<:E>G=:KP:L
    IA:L>=BG PAB<AH<<NKK>=:M=BZ>K>GMMBF>LBG=BZ>K>GM<HNGMKB>L K:G@BG@?KHFI:KMP:RMAKHN@A
    MA>MA<>GMNKR:EEMA>P:RMH>:KERBGMA> MA

    5IF KP=?<O@ BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q *GTQFDJИFE JUJOEJDBUFTUIBUUIFEBUFBOEUJNFHJWFOCZUIFFMFNFOUJT


    UIFQVCMJDBUJPOEBUFBOEUJNFPGUIFOFBSFTUBODFTUPS BSUJDMF Q FMFNFOU PS JGUIFFMFNFOUIBTOPBODFTUPS
    BSUJDMF Q FMFNFOU PGUIFEPDVNFOUBTBXIPMF*GUIFFMFNFOUIBTB QVCEBUF Q BUUSJCVUFTQFDJИFE UIFOUIF
    FMFNFOU H??>M;>;N?'PSFBDI BSUJDMF Q FMFNFOU UIFSFNVTUOPNPSFUIBOPOF UJNF Q FMFNFOUXJUIB
    QVCEBUF Q BUUSJCVUFXIPTFOFBSFTUBODFTUPSJTUIBU BSUJDMF Q FMFNFOU'VSUIFSNPSF GPSFBDI %PDVNFOU Q UIFSF
    NVTUCFOPNPSFUIBOPOF UJNF Q FMFNFOUXJUIB QVCEBUF Q BUUSJCVUFUIBUEPFTOPUIBWFBOBODFTUPS BSUJDMF Q
    FMFNFOU

    5IF ?<O@ODH@ BUUSJCVUF JGQSFTFOU HJWFTUIFEBUFPSUJNFCFJOHTQFDJИFE0UIFSXJTF UIFEBUFPSUJNFJTHJWFOCZUIF


    FMFNFOUTDPOUFOUT

    *GUIFFMFNFOU =443B030C4 ?  BOEUIF EBUFUJNF Q BUUSJCVUFJTQSFTFOU UIFOUIFBUUSJCVUFTWBMVFNVTUCFB WBMJE


    EBUFTUSJOHXJUIPQUJPOBMUJNF Q 

    *GUIFFMFNFOU =443B030C4 ?  CVUUIF EBUFUJNF Q BUUSJCVUFJTOPUQSFTFOU UIFOUIFFMFNFOUT UFYU$POUFOU Q NVTU
    CFB WBMJEEBUFTUSJOHJODPOUFOUXJUIPQUJPOBMUJNF Q 

    *GUIFFMFNFOUEPFTOPU =443030C4 BOEUIF EBUFUJNF Q BUUSJCVUFJTQSFTFOU UIFOUIFBUUSJCVUFTWBMVFNVTUCFB


    WBMJEEBUFPSUJNFTUSJOH Q 

    *GUIFFMFNFOUEPFTOPU =443030C4 CVUUIF EBUFUJNF Q BUUSJCVUFJTOPUQSFTFOU UIFOUIFFMFNFOUT UFYU$POUFOU Q


    NVTUCFB WBMJEEBUFPSUJNFTUSJOHJODPOUFOU Q 

    5IFEBUF JGBOZ NVTUCFFYQSFTTFEVTJOHUIF(SFHPSJBODBMFOEBS

    *GUIF EBUFUJNF Q BUUSJCVUFJTQSFTFOU UIFVTFSBHFOUTIPVMEDPOWFZUIFBUUSJCVUFTWBMVFUPUIFVTFSXIFOSFOEFSJOH


    UIFFMFNFOU

    5IF UJNF Q FMFNFOUDBOCFVTFEUPFODPEFEBUFT GPSFYBNQMFJO.JDSPGPSNBUT5IFGPMMPXJOHTIPXTB


    IZQPUIFUJDBMXBZPGFODPEJOHBOFWFOUVTJOHBWBSJBOUPOI$BMFOEBSUIBUVTFTUIF UJNF Q FMFNFOU

    EJWDMBTTWFWFOU
    BDMBTTVSMISFGIUUQXXXXFCDPODPNIUUQXXXXFCDPODPNB
    TQBODMBTTTVNNBSZ8FC$POGFSFODFTQBO
    UJNFDMBTTEUTUBSUEBUFUJNF0DUPCFSUJNF
    UJNFDMBTTEUFOEEBUFUJNFUJNF
    BUUIFTQBODMBTTMPDBUJPO"SHFOU)PUFM 4BO'SBODJTDP $"TQBO
    EJW

    5IFFOEEBUFJTFODPEFEBTPOFEBZBGUFSUIFMBTUEBUFPGUIFFWFOUCFDBVTFJOUIFJ$BMFOEBSGPSNBU FOEEBUFT
    BSF 4G2;DB8E4 OPUJODMVTJWF

    
    5IF UJNF Q FMFNFOUJTOPUOFDFTTBSZGPSFODPEJOHEBUFTPSUJNFT*OUIFGPMMPXJOHTOJQQFU UIFUJNFJTFODPEFE
    VTJOH UJNF Q TPUIBUJUDBOCFSFTUZMFE FHVTJOH9#-
    UPNBUDIMPDBMDPOWFOUJPOT XIJMFUIFZFBSJTOPU
    NBSLFEVQBUBMM TJODFNBSLJOHJUVQXPVMEOPUCFQBSUJDVMBSMZVTFGVM

    Q*VTVBMMZIBWFBTOBDLBUUJNFUJNFQ
    Q*WFMJLFENPEFMUSBJOTTJODFBUMFBTUQ

    6TJOHBTUZMJOHUFDIOPMPHZUIBUTVQQPSUTSFTUZMJOHUJNFT UIFИSTUQBSBHSBQIGSPNUIFBCPWFTOJQQFUDPVMECF
    SFOEFSFEBTGPMMPXT

    DBD0;;H70E40B=02:0C?<

    0SJUDPVMECFSFOEFSFEBTGPMMPXT

    DBD0;;H70E40B=02:0C 7

    5IF ?<O@2DH@ *%-BUUSJCVUFNVTU SFЙFDU Q UIF EBUFUJNF Q DPOUFOUBUUSJCVUF

    5IF KP="<O@ *%-BUUSJCVUFNVTU SFЙFDU Q UIF QVCEBUF Q DPOUFOUBUUSJCVUF

    6TFSBHFOUT UPPCUBJOUIF >;N? NCG? BOE NCG? TIH?I\M?N SFQSFTFOUFECZB UJNF Q FMFNFOU NVTUGPMMPXUIFTF
    TUFQT

     *GUIF EBUFUJNF Q BUUSJCVUFJTQSFTFOU UIFOVTFUIFSVMFTUP QBSTFBEBUFPSUJNFTUSJOH Q XJUIUIFЙBH 8=


    0CCA81DC4 GSPNUIFWBMVFPGUIBUBUUSJCVUF BOEMFUUIFSFTVMUCF A4BD;C

     0UIFSXJTF VTFUIFSVMFTUP QBSTFBEBUFPSUJNFTUSJOH Q XJUIUIFЙBH 8=2>=C4=C GSPNUIFFMFNFOUT


    UFYU$POUFOU Q BOEMFUUIFSFTVMUCF A4BD;C

     *G A4BD;C JTFNQUZ CFDBVTFUIFQBSTJOHGBJMFE


    UIFOUIF EBUF Q JTVOLOPXO UIF UJNF Q JTVOLOPXO BOE
    UIF UJNF[POFPЗTFU Q JTVOLOPXO

     0UIFSXJTFJG A4BD;C DPOUBJOTBEBUF UIFOUIBUJTUIF EBUF Q JG A4BD;C DPOUBJOTBUJNF UIFOUIBUJTUIF
    UJNF Q BOEJG A4BD;C DPOUBJOTBUJNF[POFPЗTFU UIFOUIFUJNF[POFPЗTFUJTUIFFMFNFOUT UJNF[POF
    PЗTFU Q  "UJNF[POFPЗTFUDBOPOMZCFQSFTFOUJGCPUIBEBUFBOEBUJNFBSFBMTPQSFTFOU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    MBF> Q<GP@N"<O@ K
    3FUVSOTB %BUF PCKFDUSFQSFTFOUJOHUIFTQFDJИFEEBUFBOEUJNF

    5IF Q<GP@N"<O@ *%-BUUSJCVUFNVTUSFUVSOFJUIFSOVMMPSBOFX %BUF PCKFDUJOJUJBMJTFEUPUIFSFMFWBOUWBMVFBTEFИOFE


    CZUIFGPMMPXJOHMJTU

    %@NB? >;N? J CMEHIQH<ONNB? NCG? J CMHIN


    5IFUJNFDPSSFTQPOEJOHUPNJEOJHIU65$ JFUIFИSTUTFDPOE
    PGUIFHJWFO EBUF Q 

    %@NB? NCG? J CMEHIQH<ONNB? >;N? J CMHIN


    5IFUJNFDPSSFTQPOEJOHUPUIFHJWFO UJNF Q PG XJUIUIFUJNF[POF65$

    %@<INBNB? >;N? J ;H>NB? NCG? J ;L?EHIQH


    5IFUJNFDPSSFTQPOEJOHUPUIF EBUF Q BOE UJNF Q XJUIUIFHJWFO UJNF[POFPЗTFU Q 

    %@H?CNB?LNB? >;N? J HILNB? NCG? J ;L?EHIQH


    5IFOVMMWBMVF

    8IFOB %BUF PCKFDUJTUPCFSFUVSOFE BOFXPOFNVTUCFDPOTUSVDUFE

    *OUIFGPMMPXJOHTOJQQFU

    Q0VSGJSTUEBUFXBTUJNFEBUFUJNFB4BUVSEBZUJNFQ

    UIF UJNF Q FMFNFOUT WBMVF"T%BUF Q BUUSJCVUFXPVMEIBWFUIFWBMVF    NT

    *OUIFGPMMPXJOHTOJQQFU

    Q.BOZQFPQMFHFUVQBUUJNFUJNFQ

    UIF UJNF Q FMFNFOUT WBMVF"T%BUF Q BUUSJCVUFXPVMEIBWFUIFWBMVF  NT

    
    *OUIJTFYBNQMF BOBSUJDMFTQVCMJDBUJPOEBUFJTNBSLFEVQVTJOH UJNF Q 

    BSUJDMF
    I4NBMMUBTLTI
    GPPUFS1VCMJTIFEUJNFQVCEBUFUJNFGPPUFS
    Q*QVUBCJLFCFMMPOIJTCJLFQ
    BSUJDMF

    )FSFJTBOPUIFSXBZUIBUDPVMECFNBSLFEVQ

    BSUJDMF
    I4NBMMUBTLTI
    GPPUFS1VCMJTIFEUJNFQVCEBUFEBUFUJNFUPEBZUJNFGPPUFS
    Q*QVUBCJLFCFMMPOIJTCJLFQ
    BSUJDMF

    )FSFJTUIFTBNFUIJOHCVUXJUIUIFUJNFJODMVEFE#FDBVTFUIFFMFNFOUJTFNQUZ JUXJMMCFSFQMBDFEJOUIF
    SFOEFSJOHXJUIBNPSFSFBEBCMFWFSTJPOPGUIFEBUFBOEUJNFHJWFO

    BSUJDMF
    I4NBMMUBTLTI
    GPPUFS1VCMJTIFEUJNFQVCEBUFEBUFUJNF5;UJNFGPPUFS
    Q*QVUBCJLFCFMMPOIJTCJLFQ
    BSUJDMF

       0B? >J?@ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF DPEF Q FMFNFOU SFQSFTFOUT Q BGSBHNFOUPGDPNQVUFSDPEF5IJTDPVMECFBO9.-FMFNFOUOBNF BИMFOBNF B


    DPNQVUFSQSPHSBN PSBOZPUIFSTUSJOHUIBUBDPNQVUFSXPVMESFDPHOJ[F

    "MUIPVHIUIFSFJTOPGPSNBMXBZUPJOEJDBUFUIFMBOHVBHFPGDPNQVUFSDPEFCFJOHNBSLFEVQ BVUIPSTXIPXJTIUP
    NBSL DPEF Q FMFNFOUTXJUIUIFMBOHVBHFVTFE FHTPUIBUTZOUBYIJHIMJHIUJOHTDSJQUTDBOVTFUIFSJHIUSVMFT NBZEP
    TPCZBEEJOHBDMBTTQSFИYFEXJUIMBOHVBHFUPUIFFMFNFOU

    5IFGPMMPXJOHFYBNQMFTIPXTIPXUIFFMFNFOUDBOCFVTFEJOBQBSBHSBQIUPNBSLVQFMFNFOUOBNFTBOE
    DPNQVUFSDPEF JODMVEJOHQVODUVBUJPO

    Q5IFDPEFDPEFDPEFFMFNFOUSFQSFTFOUTBGSBHNFOUPGDPNQVUFS
    DPEFQ

    Q8IFOZPVDBMMUIFDPEFBDUJWBUF
    DPEFNFUIPEPOUIF
    DPEFSPCPU4OPXNBODPEFPCKFDU UIFFZFTHMPXQ

    Q5IFFYBNQMFCFMPXVTFTUIFDPEFCFHJODPEFLFZXPSEUPJOEJDBUF
    UIFTUBSUPGBTUBUFNFOUCMPDL*UJTQBJSFEXJUIBODPEFFOEDPEF
    LFZXPSE XIJDIJTGPMMPXFECZUIFDPEFDPEFQVODUVBUJPODIBSBDUFS
    GVMMTUPQ
    UPJOEJDBUFUIFFOEPGUIFQSPHSBNQ

    5IFGPMMPXJOHFYBNQMFTIPXTIPXBCMPDLPGDPEFDPVMECFNBSLFEVQVTJOHUIF QSF Q BOE DPEF Q FMFNFOUT

    QSFDPEFDMBTTMBOHVBHFQBTDBMWBSJ*OUFHFS
    CFHJO

    
    J
    FOEDPEFQSF

    "DMBTTJTVTFEJOUIBUFYBNQMFUPJOEJDBUFUIFMBOHVBHFVTFE

    *HM> />>MA> IK> I >E>F>GM?HKFHK>=>M:BEL

       0B? Q<M ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF WBS Q FMFNFOU SFQSFTFOUT Q BWBSJBCMF5IJTDPVMECFBOBDUVBMWBSJBCMFJOBNBUIFNBUJDBMFYQSFTTJPOPS


    QSPHSBNNJOHDPOUFYU PSJUDPVMEKVTUCFBUFSNVTFEBTBQMBDFIPMEFSJOQSPTF

    *OUIFQBSBHSBQICFMPX UIFMFUUFSOJTCFJOHVTFEBTBWBSJBCMFJOQSPTF

    Q*GUIFSFBSFWBSOWBSQJQFTMFBEJOHUPUIFJDF
    DSFBNGBDUPSZUIFO*FYQFDUBUFNMFBTUFNWBSOWBS
    GMBWPSTPGJDFDSFBNUPCFBWBJMBCMFGPSQVSDIBTFQ

    'PSNBUIFNBUJDT JOQBSUJDVMBSGPSBOZUIJOHCFZPOEUIFTJNQMFTUPGFYQSFTTJPOT .BUI.-JTNPSFBQQSPQSJBUF)PXFWFS


    UIF WBS Q FMFNFOUDBOTUJMMCFVTFEUPSFGFSUPTQFDJИDWBSJBCMFTUIBUBSFUIFONFOUJPOFEJO.BUI.-FYQSFTTJPOT

    *OUIJTFYBNQMF BOFRVBUJPOJTTIPXO XJUIBMFHFOEUIBUSFGFSFODFTUIFWBSJBCMFTJOUIFFRVBUJPO5IF


    FYQSFTTJPOJUTFMGJTNBSLFEVQXJUI.BUI.- CVUUIFWBSJBCMFTBSFNFOUJPOFEJOUIFИHVSFTMFHFOEVTJOH WBS Q 

    GJHVSF
    NBUI
    NJBNJ
    NPNP
    NTRSU
    NTVQNJCNJNONONTVQ
    NJ NJ
    NTVQNJDNJNONONTVQ
    NTRSU
    NBUI
    GJHDBQUJPO
    6TJOH1ZUIBHPSBTUIFPSFNUPTPMWFGPSUIFIZQPUFOVTFWBSBWBSPG
    BUSJBOHMFXJUITJEFTWBSCWBSBOEWBSDWBS
    GJHDBQUJPO
    GJHVSF

       0B? N<HK ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    
    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF TBNQ Q FMFNFOU SFQSFTFOUT Q TBNQMF


    PVUQVUGSPNBQSPHSBNPSDPNQVUJOHTZTUFN

    *HM> />>MA> IK> I :G= D;= I >E>F>GML?HKFHK>=>M:BEL

    5IJTFYBNQMFTIPXTUIF TBNQ Q FMFNFOUCFJOHVTFEJOMJOF

    Q5IFDPNQVUFSTBJETBNQ5PPNVDIDIFFTFJOUSBZ
    UXPTBNQCVU*EJEOULOPXXIBUUIBUNFBOUQ

    5IJTTFDPOEFYBNQMFTIPXTBCMPDLPGTBNQMFPVUQVU/FTUFE TBNQ Q BOE LCE Q FMFNFOUTBMMPXGPSUIFTUZMJOH


    PGTQFDJИDFMFNFOUTPGUIFTBNQMFPVUQVUVTJOHBTUZMFTIFFU

    QSFTBNQTQBODMBTTQSPNQUKEPF!NPXNPX_TQBOLCETTIEFNPFYBNQMFDPNLCE
    -BTUMPHJO5VF"QSGSPNNPXNPXFYBNQMFDPNPOQUT
    -JOVYEFNPHSTFD HH F GITC OGT HS Q DB HSCSFTMPHW4.15VF'FC
    145JVOLOPXO

    TQBODMBTTQSPNQUKEPF!EFNP_TQBOTQBODMBTTDVSTPS@TQBOTBNQQSF

       0B? F=? ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF LCE Q FMFNFOU SFQSFTFOUT Q VTFSJOQVU UZQJDBMMZLFZCPBSEJOQVU BMUIPVHIJUNBZBMTPCFVTFEUPSFQSFTFOU


    PUIFSJOQVU TVDIBTWPJDFDPNNBOET
    

    8IFOUIF LCE Q FMFNFOUJTOFTUFEJOTJEFB TBNQ Q FMFNFOU JUSFQSFTFOUTUIFJOQVUBTJUXBTFDIPFECZUIFTZTUFN

    8IFOUIF LCE Q FMFNFOU 2>=C08=B B TBNQ Q FMFNFOU JUSFQSFTFOUTJOQVUCBTFEPOTZTUFNPVUQVU GPSFYBNQMF
    JOWPLJOHBNFOVJUFN

    8IFOUIF LCE Q FMFNFOUJTOFTUFEJOTJEFBOPUIFS LCE Q FMFNFOU JUSFQSFTFOUTBOBDUVBMLFZPSPUIFSTJOHMFVOJUPG


    JOQVUBTBQQSPQSJBUFGPSUIFJOQVUNFDIBOJTN

    )FSFUIF LCE Q FMFNFOUJTVTFEUPJOEJDBUFLFZTUPQSFTT

    Q5PNBLF(FPSHFFBUBOBQQMF QSFTTLCELCE4IJGULCE LCE'LCELCEQ

    *OUIJTTFDPOEFYBNQMF UIFVTFSJTUPMEUPQJDLBQBSUJDVMBSNFOVJUFN5IFPVUFS LCE Q FMFNFOUNBSLTVQB


    CMPDLPGJOQVU XJUIUIFJOOFS LCE Q FMFNFOUTSFQSFTFOUJOHFBDIJOEJWJEVBMTUFQPGUIFJOQVU BOEUIF TBNQ Q
    FMFNFOUTJOTJEFUIFNJOEJDBUJOHUIBUUIFTUFQTBSFJOQVUCBTFEPOTPNFUIJOHCFJOHEJTQMBZFECZUIFTZTUFN JO
    UIJTDBTFNFOVMBCFMT

    
    Q5PNBLF(FPSHFFBUBOBQQMF TFMFDU
    LCELCETBNQ'JMFTBNQLCE]LCETBNQ&BU"QQMFTBNQLCELCE
    Q

    4VDIQSFDJTJPOJTOUOFDFTTBSZUIFGPMMPXJOHJTFRVBMMZИOF

    Q5PNBLF(FPSHFFBUBOBQQMF TFMFDULCE'JMF]&BU"QQMFLCEQ

       0B? NP= ;H> NPK ?F?G?HNM

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNB?M??F?G?HNMG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TF )5.-&MFNFOU Q 

    5IF TVQ Q FMFNFOU SFQSFTFOUT Q BTVQFSTDSJQUBOEUIF TVC Q FMFNFOU SFQSFTFOUT Q BTVCTDSJQU

    5IFTFFMFNFOUTNVTUCFVTFEPOMZUPNBSLVQUZQPHSBQIJDBMDPOWFOUJPOTXJUITQFDJИDNFBOJOHT OPUGPSUZQPHSBQIJDBM
    QSFTFOUBUJPOGPSQSFTFOUBUJPOTTBLF'PSFYBNQMF JUXPVMECFJOBQQSPQSJBUFGPSUIF TVC Q BOE TVQ Q FMFNFOUTUPCF
    VTFEJOUIFOBNFPGUIF-B5F9EPDVNFOUQSFQBSBUJPOTZTUFN*OHFOFSBM BVUIPSTTIPVMEVTFUIFTFFMFNFOUTPOMZJGUIF
    01B4=24 PGUIPTFFMFNFOUTXPVMEDIBOHFUIFNFBOJOHPGUIFDPOUFOU

    *ODFSUBJOMBOHVBHFT TVQFSTDSJQUTBSFQBSUPGUIFUZQPHSBQIJDBMDPOWFOUJPOTGPSTPNFBCCSFWJBUJPOT

    Q5IFNPTUCFBVUJGVMXPNFOBSF
    TQBOMBOHGSBCCS.TVQMMFTVQBCCS(XFOEPMJOFTQBOBOE
    TQBOMBOHGSBCCS.TVQNFTVQBCCS%FOJTFTQBOQ

    5IF TVC Q FMFNFOUDBOCFVTFEJOTJEFB WBS Q FMFNFOU GPSWBSJBCMFTUIBUIBWFTVCTDSJQUT

    )FSF UIF TVC Q FMFNFOUJTVTFEUPSFQSFTFOUTUIFTVCTDSJQUUIBUJEFOUJИFTUIFWBSJBCMFJOBGBNJMZPGWBSJBCMFT

    Q5IFDPPSEJOBUFPGUIFWBSJWBSUIQPJOUJT
    WBSYTVCWBSJWBSTVCWBS WBSZTVCWBSJWBSTVCWBS
    
    'PSFYBNQMF UIFUIQPJOUIBTDPPSEJOBUF
    WBSYTVCTVCWBS WBSZTVCTVCWBS
    Q

    .BUIFNBUJDBMFYQSFTTJPOTPGUFOVTFTVCTDSJQUTBOETVQFSTDSJQUT"VUIPSTBSFFODPVSBHFEUPVTF.BUI.-GPSNBSLJOH
    VQNBUIFNBUJDT CVUBVUIPSTNBZPQUUPVTF TVC Q BOE TVQ Q JGEFUBJMFENBUIFNBUJDBMNBSLVQJTOPUEFTJSFE
    <."5).-> Q

    WBS&WBSWBSNWBSWBSDWBSTVQTVQ
    G WBSYWBS WBSOWBS
    MPHTVCTVCWBSYWBSTVQWBSOWBSTVQ

       0B? D ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    
    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF J Q FMFNFOU SFQSFTFOUT Q BTQBOPGUFYUJOBOBMUFSOBUFWPJDFPSNPPE PSPUIFSXJTFPЗTFUGSPNUIFOPSNBM


    QSPTF TVDIBTBUBYPOPNJDEFTJHOBUJPO BUFDIOJDBMUFSN BOJEJPNBUJDQISBTFGSPNBOPUIFSMBOHVBHF BUIPVHIU B
    TIJQOBNF PSTPNFPUIFSQSPTFXIPTFUZQJDBMUZQPHSBQIJDQSFTFOUBUJPOJTJUBMJDJ[FE

    5FSNTJOMBOHVBHFTEJЗFSFOUGSPNUIFNBJOUFYUTIPVMECFBOOPUBUFEXJUI MBOH Q BUUSJCVUFT PS JO9.- MBOH


    BUUSJCVUFTJOUIF 9.-OBNFTQBDF Q
    

    5IFFYBNQMFTCFMPXTIPXVTFTPGUIF J Q FMFNFOU

    Q5IFJDMBTTUBYPOPNZ'FMJTTJMWFTUSJTDBUVTJJTDVUFQ
    Q5IFUFSNJQSPTFDPOUFOUJJTEFGJOFEBCPWFQ
    Q5IFSFJTBDFSUBJOJMBOHGSKFOFTBJTRVPJJJOUIFBJSQ

    *OUIFGPMMPXJOHFYBNQMF BESFBNTFRVFODFJTNBSLFEVQVTJOH J Q FMFNFOUT

    Q3BZNPOEUSJFEUPTMFFQQ
    QJ5IFTIJQTBJMFEBXBZPO5IVSTEBZJ IF
    ESFBNUJ5IFTIJQIBENBOZQFPQMFBCPBSE JODMVEJOHBCFBVUJGVM
    QSJODFTTDBMMFE$BSFZ)FXBUDIFEIFS EBZJO EBZPVU IPQJOHTIF
    XPVMEOPUJDFIJN CVUTIFOFWFSEJEJQ
    QJ'JOBMMZPOFOJHIUIFQJDLFEVQUIFDPVSBHFUPTQFBLXJUI
    IFSzJQ
    Q3BZNPOEXPLFXJUIBTUBSUBTUIFGJSFBMBSNSBOHPVUQ

    "VUIPSTBSFFODPVSBHFEUPVTFUIF DMBTT Q BUUSJCVUFPOUIF J Q FMFNFOUUPJEFOUJGZXIZUIFFMFNFOUJTCFJOHVTFE


    TPUIBUJGUIFTUZMFPGBQBSUJDVMBSVTF FHESFBNTFRVFODFTBTPQQPTFEUPUBYPOPNJDUFSNT
    JTUPCFDIBOHFEBUB
    MBUFSEBUF UIFBVUIPSEPFTOUIBWFUPHPUISPVHIUIFFOUJSFEPDVNFOU PSTFSJFTPGSFMBUFEEPDVNFOUT
    BOOPUBUJOH
    FBDIVTF4JNJMBSMZ BVUIPSTBSFFODPVSBHFEUPDPOTJEFSXIFUIFSPUIFSFMFNFOUTNJHIUCFNPSFBQQMJDBCMFUIBOUIF
    J Q FMFNFOU GPSJOTUBODFUIF FN Q FMFNFOUGPSNBSLJOHVQTUSFTTFNQIBTJT PSUIF EGO Q FMFNFOUUPNBSLVQUIF
    EFИOJOHJOTUBODFPGBUFSN

    *HM> /MRE>LA>>ML<:G;>NL>=MH?HKF:M B I >E>F>GML CNLMEBD>:GRHMA>K>E>F>GM<:G;>


    K>LMRE>= 0ANL BMBLGHMMA><:L>MA:M<HGM>GMBG B I >E>F>GMLPBEEG><>LL:KBER;>BM:EB<BS>=

       0B? = ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF C Q FMFNFOU SFQSFTFOUT Q BTQBOPGUFYUUPCFTUZMJTUJDBMMZPЗTFUGSPNUIFOPSNBMQSPTFXJUIPVUDPOWFZJOHBOZ


    FYUSBJNQPSUBODF TVDIBTLFZXPSETJOBEPDVNFOUBCTUSBDU QSPEVDUOBNFTJOBSFWJFX PSPUIFSTQBOTPGUFYUXIPTF
    UZQJDBMUZQPHSBQIJDQSFTFOUBUJPOJTCPMEFOFE

    5IFGPMMPXJOHFYBNQMFTIPXTBVTFPGUIF C Q FMFNFOUUPIJHIMJHIULFZXPSETXJUIPVUNBSLJOHUIFNVQBT


    JNQPSUBOU

    
    Q5IFCGSPCPOJUPSCBOECCBSCJOBUPSCDPNQPOFOUTBSFGSJFEQ

    *OUIFGPMMPXJOHFYBNQMF PCKFDUTJOBUFYUBEWFOUVSFBSFIJHIMJHIUFEBTCFJOHTQFDJBMCZVTFPGUIF C Q


    FMFNFOU

    Q:PVFOUFSBTNBMMSPPN:PVSCTXPSECHMPXT
    CSJHIUFS"CSBUCTDVSSJFTQBTUUIFDPSOFSXBMMQ

    "OPUIFSDBTFXIFSFUIF C Q FMFNFOUJTBQQSPQSJBUFJTJONBSLJOHVQUIFMFEF PSMFBE


    TFOUFODFPSQBSBHSBQI
    5IFGPMMPXJOHFYBNQMFTIPXTIPXB ##$BSUJDMFBCPVULJUUFOTBEPQUJOHBSBCCJUBTUIFJSPXO DPVMECFNBSLFE
    VQ

    BSUJDMF
    I,JUUFOTBEPQUFECZQFUSBCCJUI
    QCDMBTTMFEF4JYBCBOEPOFELJUUFOTIBWFGPVOEBO
    VOFYQFDUFEOFXNPUIFSGJHVSFzBQFUSBCCJUCQ
    Q7FUFSJOBSZOVSTF.FMBOJF)VNCMFUPPLUIFUISFFXFFLPME
    LJUUFOTUPIFS"CFSEFFOIPNFQ
    

    "TXJUIUIF J Q FMFNFOU BVUIPSTBSFFODPVSBHFEUPVTFUIF DMBTT Q BUUSJCVUFPOUIF C Q FMFNFOUUPJEFOUJGZXIZ


    UIFFMFNFOUJTCFJOHVTFE TPUIBUJGUIFTUZMFPGBQBSUJDVMBSVTFJTUPCFDIBOHFEBUBMBUFSEBUF UIFBVUIPSEPFTOU
    IBWFUPHPUISPVHIBOOPUBUJOHFBDIVTF

    5IF C Q FMFNFOUTIPVMECFVTFEBTBMBTUSFTPSUXIFOOPPUIFSFMFNFOUJTNPSFBQQSPQSJBUF*OQBSUJDVMBS IFBEJOHT


    TIPVMEVTFUIF I Q UP I Q FMFNFOUT TUSFTTFNQIBTJTTIPVMEVTFUIF FN Q FMFNFOU JNQPSUBODFTIPVMECFEFOPUFE
    XJUIUIF TUSPOH Q FMFNFOU BOEUFYUNBSLFEPSIJHIMJHIUFETIPVMEVTFUIF NBSL Q FMFNFOU

    5IFGPMMPXJOHXPVMECF 8=2>AA42C VTBHF

    QC8"3/*/(C%POPUGSPCUIFCBSCJOBUPSQ

    *OUIFQSFWJPVTFYBNQMF UIFDPSSFDUFMFNFOUUPVTFXPVMEIBWFCFFO TUSPOH Q OPU C Q 

    *HM> /MRE>LA>>ML<:G;>NL>=MH?HKF:M ; I >E>F>GML CNLMEBD>:GRHMA>K>E>F>GM<:G;>


    K>LMRE>= 0ANL BMBLGHMMA><:L>MA:M<HGM>GMBG ; I >E>F>GMLPBEEG><>LL:KBER;>;HE=>G>=

       0B? H<MF ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF NBSL Q FMFNFOU SFQSFTFOUT Q BSVOPGUFYUJOPOFEPDVNFOUNBSLFEPSIJHIMJHIUFEGPSSFGFSFODFQVSQPTFT EVF


    UPJUTSFMFWBODFJOBOPUIFSDPOUFYU8IFOVTFEJOBRVPUBUJPOPSPUIFSCMPDLPGUFYUSFGFSSFEUPGSPNUIFQSPTF JU
    JOEJDBUFTBIJHIMJHIUUIBUXBTOPUPSJHJOBMMZQSFTFOUCVUXIJDIIBTCFFOBEEFEUPCSJOHUIFSFBEFSTBUUFOUJPOUPBQBSU
    PGUIFUFYUUIBUNJHIUOPUIBWFCFFODPOTJEFSFEJNQPSUBOUCZUIFPSJHJOBMBVUIPSXIFOUIFCMPDLXBTPSJHJOBMMZXSJUUFO
    CVUXIJDIJTOPXVOEFSQSFWJPVTMZVOFYQFDUFETDSVUJOZ8IFOVTFEJOUIFNBJOQSPTFPGBEPDVNFOU JUJOEJDBUFTB
    QBSUPGUIFEPDVNFOUUIBUIBTCFFOIJHIMJHIUFEEVFUPJUTMJLFMZSFMFWBODFUPUIFVTFSTDVSSFOUBDUJWJUZ

    5IJTFYBNQMFTIPXTIPXUIF NBSL Q FMFNFOUDBOCFVTFEUPCSJOHBUUFOUJPOUPBQBSUJDVMBSQBSUPGBRVPUBUJPO

    QMBOHFO64$POTJEFSUIFGPMMPXJOHRVPUFQ
    CMPDLRVPUFMBOHFO(#
    Q-PPLBSPVOEBOEZPVXJMMGJOE OPPOFTSFBMMZ
    NBSLDPMPVSNBSLCMJOEQ

    
    CMPDLRVPUF
    QMBOHFO64"TXFDBOUFMMGSPNUIFFNTQFMMJOHFNPGUIFXPSE
    UIFQFSTPOXSJUJOHUIJTRVPUFJTDMFBSMZOPU"NFSJDBOQ

    "OPUIFSFYBNQMFPGUIF NBSL Q FMFNFOUJTIJHIMJHIUJOHQBSUTPGBEPDVNFOUUIBUBSFNBUDIJOHTPNFTFBSDI


    TUSJOH*GTPNFPOFMPPLFEBUBEPDVNFOU BOEUIFTFSWFSLOFXUIBUUIFVTFSXBTTFBSDIJOHGPSUIFXPSELJUUFO
    UIFOUIFTFSWFSNJHIUSFUVSOUIFEPDVNFOUXJUIPOFQBSBHSBQINPEJИFEBTGPMMPXT

    Q*BMTPIBWFTPNFNBSLLJUUFONBSLTXIPBSFWJTJUJOHNF
    UIFTFEBZT5IFZSFSFBMMZDVUF*UIJOLUIFZMJLFNZHBSEFO.BZCF*
    TIPVMEBEPQUBNBSLLJUUFONBSLQ

    *OUIFGPMMPXJOHTOJQQFU BQBSBHSBQIPGUFYUSFGFSTUPBTQFDJИDQBSUPGBDPEFGSBHNFOU

    Q5IFIJHIMJHIUFEQBSUCFMPXJTXIFSFUIFFSSPSMJFTQ
    QSFDPEFWBSJ*OUFHFS
    CFHJO
    JNBSLNBSL
    FOEDPEFQSF

    5IJTJTBOPUIFSFYBNQMFTIPXJOHUIFVTFPG NBSL Q UPIJHIMJHIUBQBSUPGRVPUFEUFYUUIBUXBTPSJHJOBMMZOPU


    FNQIBTJ[FE*OUIJTFYBNQMF DPNNPOUZQPHSBQIJDDPOWFOUJPOTIBWFMFEUIFBVUIPSUPFYQMJDJUMZTUZMF NBSL Q
    FMFNFOUTJORVPUFTUPSFOEFSJOJUBMJDT

    BSUJDMF
    TUZMFTDPQFE
    CMPDLRVPUFNBSL RNBSL\
    GPOUJOIFSJUGPOUTUZMFJUBMJD
    UFYUEFDPSBUJPOOPOF
    CBDLHSPVOEUSBOTQBSFOUDPMPSJOIFSJU
    ^
    CVCCMFFN\
    GPOUJOIFSJUGPOUTJ[FMBSHFS
    UFYUEFDPSBUJPOVOEFSMJOF
    ^
    TUZMF
    I4IFLOFXI
    Q%JEZPVOPUJDFUIFTVCUMFKPLFJOUIFKPLFPOQBOFM Q
    CMPDLRVPUF
    QDMBTTCVCCMF*EJEOUFNXBOUFNUPCFMJFWFNBSL0GDPVSTF
    POTPNFMFWFM*SFBMJ[FEJUXBTBLOPXOQMBJOUFYUBUUBDLNBSL#VU*
    DPVMEOUBENJUJUVOUJM*TBXGPSNZTFMGQ
    CMPDLRVPUF
    Q &NQIBTJTNJOF
    *UIPVHIUUIBUXBTHSFBU*UTTPQFEBOUJD ZFUJU
    FYQMBJOTFWFSZUIJOHOFBUMZQ
    BSUJDMF

    /PUF JODJEFOUBMMZ UIFEJTUJODUJPOCFUXFFOUIF FN Q FMFNFOUJOUIJTFYBNQMF XIJDIJTQBSUPGUIFPSJHJOBMUFYU


    CFJOHRVPUFE BOEUIF NBSL Q FMFNFOU XIJDIJTIJHIMJHIUJOHBQBSUGPSDPNNFOU

    5IFGPMMPXJOHFYBNQMFTIPXTUIFEJЗFSFODFCFUXFFOEFOPUJOHUIF 8<?>AC0=24 PGBTQBOPGUFYU TUSPOH Q


    BT
    PQQPTFEUPEFOPUJOHUIF A4;4E0=24 PGBTQBOPGUFYU NBSL Q
    *UJTBOFYUSBDUGSPNBUFYUCPPL XIFSFUIF
    FYUSBDUIBTIBEUIFQBSUTSFMFWBOUUPUIFFYBNIJHIMJHIUFE5IFTBGFUZXBSOJOHT JNQPSUBOUUIPVHIUIFZNBZCF
    BSFBQQBSFOUMZOPUSFMFWBOUUPUIFFYBN

    I8PSNIPMF1IZTJDT*OUSPEVDUJPOI

    QNBSL"XPSNIPMFJOOPSNBMDPOEJUJPOTDBOCFIFMEPQFOGPSB
    NBYJNVNPGKVTUVOEFSNJOVUFTNBSL$POEJUJPOTUIBUDBOJODSFBTF
    UIFUJNFJODMVEFBQPXFSGVMFOFSHZTPVSDFDPVQMFEUPPOFPSCPUIPG
    UIFHBUFTDPOOFDUJOHUIFXPSNIPMF BOEBMBSHFHSBWJUZXFMM TVDIBTB
    CMBDLIPMF
    Q

    QNBSL.PNFOUVNJTQSFTFSWFEBDSPTTUIFXPSNIPMF&MFDUSPNBHOFUJD
    SBEJBUJPODBOUSBWFMJOCPUIEJSFDUJPOTUISPVHIBXPSNIPMF
    CVUNBUUFSDBOOPUNBSLQ

    Q8IFOBXPSNIPMFJTDSFBUFE BWPSUFYOPSNBMMZGPSNT

    
    TUSPOH8BSOJOH5IFWPSUFYDBVTFECZUIFXPSNIPMFPQFOJOHXJMM
    BOOJIJMBUFBOZUIJOHJOJUTQBUITUSPOH7PSUFYFTDBOCFBWPJEFEXIFO
    VTJOHTVGGJDJFOUMZBEWBODFEEJBMJOHUFDIOPMPHZQ

    QNBSL"OPCTUSVDUJPOJOBHBUFXJMMQSFWFOUJUGSPNBDDFQUJOHB
    XPSNIPMFDPOOFDUJPONBSLQ

       0B? MP=T ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    0OFPSNPSFHSPVQTPG QISBTJOHDPOUFOU Q GPMMPXFEFJUIFSCZBTJOHMF SU Q FMFNFOU PSBO SQ Q FMFNFOU
    BO SU Q FMFNFOU BOEBOPUIFS SQ Q FMFNFOU

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF SVCZ Q FMFNFOUBMMPXTPOFPSNPSFTQBOTPGQISBTJOHDPOUFOUUPCFNBSLFEXJUISVCZBOOPUBUJPOT3VCZ


    BOOPUBUJPOTBSFTIPSUSVOTPGUFYUQSFTFOUFEBMPOHTJEFCBTFUFYU QSJNBSJMZVTFEJO&BTU"TJBOUZQPHSBQIZBTBHVJEF
    GPSQSPOVODJBUJPOPSUPJODMVEFPUIFSBOOPUBUJPOT*O+BQBOFTF UIJTGPSNPGUZQPHSBQIZJTBMTPLOPXOBT 5DA860=0

    " SVCZ Q FMFNFOU SFQSFTFOUT Q UIFTQBOTPGQISBTJOHDPOUFOUJUDPOUBJOT JHOPSJOHBMMUIFDIJME SU Q BOE SQ Q
    FMFNFOUTBOEUIFJSEFTDFOEBOUT5IPTFTQBOTPGQISBTJOHDPOUFOUIBWFBTTPDJBUFEBOOPUBUJPOTDSFBUFEVTJOHUIF
    SU Q FMFNFOU

    *OUIJTFYBNQMF FBDIJEFPHSBQIJOUIF+BQBOFTFUFYU  JTBOOPUBUFEXJUIJUTSFBEJOHJOIJSBHBOB

    
    SVCZ
    SUSU
    SUSU
    SVCZ
    

    5IJTNJHIUCFSFOEFSFEBT

    *OUIJTFYBNQMF FBDIJEFPHSBQIJOUIFUSBEJUJPOBM$IJOFTFUFYU  JTBOOPUBUFEXJUIJUTCPQPNPGPSFBEJOH

    SVCZ
    SU SU
    SUSU
    SVCZ

    5IJTNJHIUCFSFOEFSFEBT

    
    *OUIJTFYBNQMF FBDIJEFPHSBQIJOUIFTJNQMJИFE$IJOFTFUFYU  JTBOOPUBUFEXJUIJUTQJOZJOSFBEJOH

    
    SVCZ
    SUIeOSU
    SU[g SU
    SVCZ
    

    5IJTNJHIUCFSFOEFSFEBT

       0B? MO ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB SVCZ Q FMFNFOU

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF SU Q FMFNFOUNBSLTUIFSVCZUFYUDPNQPOFOUPGBSVCZBOOPUBUJPO

    "O SU Q FMFNFOU UIBUJTBDIJMEPGB SVCZ Q FMFNFOU SFQSFTFOUT Q BOBOOPUBUJPO HJWFOCZJUTDIJMESFO
    GPSUIF[FSP
    PSNPSFOPEFTPGQISBTJOHDPOUFOUUIBUJNNFEJBUFMZQSFDFEFTJUJOUIF SVCZ Q FMFNFOU JHOPSJOH SQ Q FMFNFOUT

    "O SU Q FMFNFOUUIBUJTOPUBDIJMEPGB SVCZ Q FMFNFOUSFQSFTFOUTUIFTBNFUIJOHBTJUTDIJMESFO

       0B? MK ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB SVCZ Q FMFNFOU FJUIFSJNNFEJBUFMZCFGPSFPSJNNFEJBUFMZBGUFSBO SU Q FMFNFOU

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    
    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF SQ Q FMFNFOUDBOCFVTFEUPQSPWJEFQBSFOUIFTFTBSPVOEBSVCZUFYUDPNQPOFOUPGBSVCZBOOPUBUJPO UPCF


    TIPXOCZVTFSBHFOUTUIBUEPOUTVQQPSUSVCZBOOPUBUJPOT

    "O SQ Q FMFNFOU UIBUJTBDIJMEPGB SVCZ Q FMFNFOU SFQSFTFOUT Q OPUIJOH BOEJUTDPOUFOUTNVTUCFJHOPSFE "O
    SQ Q FMFNFOUXIPTFQBSFOUFMFNFOUJTOPUB SVCZ Q FMFNFOU SFQSFTFOUT Q JUTDIJMESFO

    5IFFYBNQMFBCPWF JOXIJDIFBDIJEFPHSBQIJOUIFUFYU  JTBOOPUBUFEXJUIJUTLBOKJSFBEJOH DPVMECF


    FYQBOEFEUPVTF SQ Q TPUIBUJOMFHBDZVTFSBHFOUTUIFSFBEJOHTBSFJOQBSFOUIFTFT

    
    SVCZ
    SQ SQSUSUSQ
    SQ
    SQ SQSUSUSQ
    SQ
    SVCZ
    

    *ODPOGPSNJOHVTFSBHFOUTUIFSFOEFSJOHXPVMECFBTBCPWF CVUJOVTFSBHFOUTUIBUEPOPUTVQQPSUSVCZ UIF


    SFOEFSJOHXPVMECF

     
     
    

       0B? =?J ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    "MTP UIF EJS Q HMPCBMBUUSJCVUFIBTTQFDJBMTFNBOUJDTPOUIJTFMFNFOU

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF CEP Q FMFNFOU SFQSFTFOUT Q FYQMJDJUUFYUEJSFDUJPOBMJUZGPSNBUUJOHDPOUSPMGPSJUTDIJMESFO*UBMMPXTBVUIPSTUP


    PWFSSJEFUIF6OJDPEFCJEJSFDUJPOBMBMHPSJUINCZFYQMJDJUMZTQFDJGZJOHBEJSFDUJPOPWFSSJEF <#*%*> Q

    "VUIPSTNVTUTQFDJGZUIF EJS Q BUUSJCVUFPOUIJTFMFNFOU XJUIUIFWBMVF MUS UPTQFDJGZBMFGUUPSJHIUPWFSSJEFBOEXJUI


    UIFWBMVF SUM UPTQFDJGZBSJHIUUPMFGUPWFSSJEF

    *GUIFFMFNFOUIBTUIF EJS Q BUUSJCVUFTFUUPUIFFYBDUWBMVF MUS UIFOGPSUIFQVSQPTFTPGUIFCJEJBMHPSJUIN UIFVTFS


    BHFOUNVTUBDUBTJGUIFSFXBTB6 %-&'5503*()507&33*%&DIBSBDUFSBUUIFTUBSUPGUIFFMFNFOU BOEB
    6 $101%*3&$5*0/"-'03."55*/(BUUIFFOEPGUIFFMFNFOU

    *GUIFFMFNFOUIBTUIF EJS Q BUUSJCVUFTFUUPUIFFYBDUWBMVF SUM UIFOGPSUIFQVSQPTFTPGUIFCJEJBMHPSJUIN UIFVTFS


    BHFOUNVTUBDUBTJGUIFSFXBTB6 &3*()550-&'507&33*%&DIBSBDUFSBUUIFTUBSUPGUIFFMFNFOU BOEB
    6 $101%*3&$5*0/"-'03."55*/(BUUIFFOEPGUIFFMFNFOU

    5IFSFRVJSFNFOUTPOIBOEMJOHUIF CEP Q FMFNFOUGPSUIFCJEJBMHPSJUINNBZCFJNQMFNFOUFEJOEJSFDUMZUISPVHIUIF


    TUZMFMBZFS'PSFYBNQMF BO)5.- $44VTFSBHFOUTIPVMEJNQMFNFOUUIFTFSFRVJSFNFOUTCZJNQMFNFOUJOHUIF$44
    VOJDPEFCJEJQSPQFSUZ <$44> Q

    
       0B? NK<I ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*1K<I#G@H@IO  )5.-&MFNFOU \^

    5IF TQBO Q FMFNFOUEPFTOUNFBOBOZUIJOHPOJUTPXO CVUDBOCFVTFGVMXIFOVTFEUPHFUIFSXJUIPUIFSBUUSJCVUFT


    FH DMBTT Q MBOH Q PS EJS Q *U SFQSFTFOUT Q JUTDIJMESFO

    *OUIJTFYBNQMF BDPEFGSBHNFOUJTNBSLFEVQVTJOH TQBO Q FMFNFOUTBOE DMBTT Q BUUSJCVUFTTPUIBUJUT


    LFZXPSETBOEJEFOUJИFSTDBOCFDPMPSDPEFEGSPN$44

    QSFDPEFDMBTTMBOHDTQBODMBTTLFZXPSEGPSTQBO TQBODMBTTJEFOUKTQBO
    TQBODMBTTJEFOUKTQBOMUTQBODMBTTJEFOUKTQBO
    \
    TQBODMBTTJEFOUJ@UTQBO TQBODMBTTJEFOUJ@UTQBOYGGGG
    ] TQBO
    DMBTTJEFOUKTQBOMUMU
    
    TQBODMBTTJEFOUJ@UTQBO TQBODMBTTJEFOUJ@UTQBO
    ?TQBO
    DMBTTJEFOUJ@UTQBO
    
    ?TQBODMBTTJEFOUJ@UTQBO
    
    ?TQBO
    DMBTTJEFOUJ@UTQBO
    
    YGG
    TQBODMBTTLFZXPSEJGTQBO TQBODMBTTJEFOUJ@UTQBOTQBO
    DMBTTJEFOUJ@UTQBO

    TQBODMBTTLFZXPSECSFBLTQBO
    ^DPEFQSF

       0B? =M ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+* 0#G@H@IO  )5.-&MFNFOU \^

    5IF CS Q FMFNFOU SFQSFTFOUT Q BMJOFCSFBL

    CS Q FMFNFOUTNVTUCFVTFEPOMZGPSMJOFCSFBLTUIBUBSFBDUVBMMZQBSUPGUIFDPOUFOU BTJOQPFNTPSBEESFTTFT

    5IFGPMMPXJOHFYBNQMFJTDPSSFDUVTBHFPGUIF CS Q FMFNFOU

    Q14IFSNBOCS
    8BMMBCZ8BZCS
    4ZEOFZQ

    CS Q FMFNFOUTNVTUOPUCFVTFEGPSTFQBSBUJOHUIFNBUJDHSPVQTJOBQBSBHSBQI

    
    5IFGPMMPXJOHFYBNQMFTBSFOPODPOGPSNJOH BTUIFZBCVTFUIF CS Q FMFNFOU

    QBDPNNFOUTBCS
    B"EEBDPNNFOUBQ
    QMBCFM/BNFJOQVUOBNFOBNFMBCFMCS
    MBCFM"EESFTTJOQVUOBNFBEESFTTMBCFMQ

    )FSFBSFBMUFSOBUJWFTUPUIFBCPWF XIJDIBSFDPSSFDU

    QBDPNNFOUTBQ
    QB"EEBDPNNFOUBQ
    QMBCFM/BNFJOQVUOBNFOBNFMBCFMQ
    QMBCFM"EESFTTJOQVUOBNFBEESFTTMBCFMQ

    *GB QBSBHSBQI Q DPOTJTUTPGOPUIJOHCVUBTJOHMF CS Q FMFNFOU JUSFQSFTFOUTBQMBDFIPMEFSCMBOLMJOF FHBTJOB


    UFNQMBUF
    4VDICMBOLMJOFTNVTUOPUCFVTFEGPSQSFTFOUBUJPOQVSQPTFT

    "OZDPOUFOUJOTJEF CS Q FMFNFOUTNVTUOPUCFDPOTJEFSFEQBSUPGUIFTVSSPVOEJOHUFYU

    " CS Q FMFNFOUEPFTOPUTFQBSBUFQBSBHSBQITGPSUIFQVSQPTFTPGUIF6OJDPEFCJEJSFDUJPOBMBMHPSJUIN <#*%*> Q

       0B? R=M ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF XCS Q FMFNFOU SFQSFTFOUT Q BMJOFCSFBLPQQPSUVOJUZ

    *OUIFGPMMPXJOHFYBNQMF TPNFPOFJTRVPUFEBTTBZJOHTPNFUIJOHXIJDI GPSFЗFDU JTXSJUUFOBTPOFMPOHXPSE


    )PXFWFS UPFOTVSFUIBUUIFUFYUDBOCFXSBQQFEJOBSFBEBCMFGBTIJPO UIFJOEJWJEVBMXPSETJOUIFRVPUFBSF
    TFQBSBUFEVTJOHB XCS Q FMFNFOU

    Q4PUIFOIFQPJOUFEBUUIFUJHFSBOETDSFBNFE
    UIFSFXCSJTXCSOPXCSXBZXCSZPVXCSBSFXCSFWFSXCSHPJOHXCSUPXCSDBUDIXCSNFQ

    "OZDPOUFOUJOTJEF XCS Q FMFNFOUTNVTUOPUCFDPOTJEFSFEQBSUPGUIFTVSSPVOEJOHUFYU

       1M;A?MOGG;LS

    *78BB42C8>=8B=>==>A<0C8E4

    !F?G?HN ,OLJIM? !R;GJF?


    Q
    B )ZQFSMJOLT 7JTJUNZ <CM@A?MDIFN COHG?MDIFN< QBHF
    FN Q 4USFTTFNQIBTJT *NVTUTBZ* @H<?JM@@H MFNPOBEF
    TUSPOH Q *NQPSUBODF 5IJTUFBJT NOMJIBQ@MTCJONOMJIB
    TNBMM Q 4JEFDPNNFOUT 5IFTFHSBQFTBSFNBEFJOUPXJOF NH<GGG>JCJGDN<??D>ODQ@ NH<GG
    Q
    DJUF 5JUMFTPGXPSLT 5IFDBTF >DO@&PBJQ "<ID@GG@>DO@ JTSFMFWBOUIFSF
    Q
    R 2VPUBUJPOT 5IFKVEHFTBJE L7JP><I?MDIFR<O@MAMJHOC@ADNCO<IFL CVUBEWJTFEBHBJOTUJU
    EGO Q %FИOJOHJOTUBODF 5IFUFSN ?AIJMB<ID>AJJ??AI SFGFSTUPGPPEQSPEVDFEXJUIPVUTZOUIFUJDDIFNJDBMT
    BCCS Q "CCSFWJBUJPOT 0SHBOJDGPPEJO*SFMBOEJTDFSUJGJFECZUIF <==MODOG@'MDNC-MB<ID>$<MH@MN<I?
    %MJR@MNNNJ>D<ODJI'-$%<==M
    UJNF Q %BUFBOEPSUJNF 1VCMJTIFE ODH@  ODH@
    DPEF Q $PNQVUFSDPEF 5IF >J?@AMPDO?=>J?@ QSPHSBNDBOCFVTFEGPSUSBDLJOHGSVJUQSPEVDUJPO

    
    !F?G?HN ,OLJIM? !R;GJF?
    WBS Q 7BSJBCMFT *GUIFSFBSF Q<MIQ<M GSVJUJOUIFCPXM BUMFBTU Q<MIQ<MjXJMMCFSJQF
    TBNQ Q $PNQVUFSPVUQVU 5IFDPNQVUFSTBJE N<HK3IFIJRI@MMJM N<HK
    LCE Q 6TFSJOQVU )JU F=?$F=? UPDPOUJOVF
    TVC Q 4VCTDSJQUT 8BUFSJT)NP=NP=0
    Q
    TVQ 4VQFSTDSJQUT 5IF)ZESPHFOJOIFBWZXBUFSJTVTVBMMZ NPKNPK)
    Q
    J "MUFSOBUJWFWPJDF -FNPOBEFDPOTJTUTQSJNBSJMZPG D!DOMPNGDHJID
    C Q ,FZXPSET 5BLFB =G@HJI= BOETRVFF[FJUXJUIB =EPD>@M=
    NBSL Q )JHIMJHIU &MEFSGMPXFSDPSEJBM XJUIPOF H<MFK<MOH<MF DPSEJBMUPUFO H<MFK<MOH<MFT
    XBUFS TUBOETBH<MFK<MOH<MF GSPNUIFSFTU
    SVCZ Q 3VCZBOOPUBUJPOT MP=T-(MKMO-M<IB@(PD>@MKMP=T
    SU Q SQ Q
    CEP Q 5FYUEJSFDUJPOBMJUZ 5IFQSPQPTBMJTUPXSJUF&OHMJTI CVUJOSFWFSTFPSEFS+VJDFXPVMECFDPNF=?J
    GPSNBUUJOH ?DMMOG(PD>@=?J
    TQBO Q 0UIFS *O'SFODIXFDBMMJU NK<IG<IBAMNDMJK?@NPM@<PNK<I
    CS Q -JOFCSFBL 4JNQMZ0SBOHF+VJDF$PNQBOZ=M"QPQLB '-=M64"
    XCS Q -JOFCSFBLJOH XXXTJNQMZR=MPSBOHFR=MKVJDFDPN
    PQQPSUVOJUZ

      !>CNM

    5IF JOT Q BOE EFM Q FMFNFOUTSFQSFTFOUFEJUTUPUIFEPDVNFOU

       0B? DIN ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    8IFOUIFFMFNFOUPOMZDPOUBJOT QISBTJOHDPOUFOU Q  QISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    5SBOTQBSFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    DJUF Q
    EBUFUJNF Q

    +)CHN?L@;=?
    6TFTUIF )5.-.PE&MFNFOU Q JOUFSGBDF

    5IF JOT Q FMFNFOU SFQSFTFOUT Q BOBEEJUJPOUPUIFEPDVNFOU

    5IFGPMMPXJOHSFQSFTFOUTUIFBEEJUJPOPGBTJOHMFQBSBHSBQI

    BTJEF
    JOT
    Q*MJLFGSVJUQ
    JOT
    BTJEF

    "TEPFTUIJT CFDBVTFFWFSZUIJOHJOUIF BTJEF Q FMFNFOUIFSFDPVOUTBT QISBTJOHDPOUFOU Q BOEUIFSFGPSF


    UIFSFJTKVTUPOF QBSBHSBQI Q 

    BTJEF
    JOT
    "QQMFTBSFFNUBTUZFN
    JOT
    JOT
    4PBSFQFBST
    JOT
    BTJEF

    
    JOT Q FMFNFOUTTIPVMEOPUDSPTT JNQMJFEQBSBHSBQI Q CPVOEBSJFT

    5IFGPMMPXJOHFYBNQMFSFQSFTFOUTUIFBEEJUJPOPGUXPQBSBHSBQIT UIFTFDPOEPGXIJDIXBTJOTFSUFEJOUXPQBSUT
    5IFИSTU JOT Q FMFNFOUJOUIJTFYBNQMFUIVTDSPTTFTBQBSBHSBQICPVOEBSZ XIJDIJTDPOTJEFSFEQPPSGPSN

    BTJEF
    EPOUEPUIJT
    JOTEBUFUJNF5;
    Q*MJLFGSVJUQ
    "QQMFTBSFFNUBTUZFN
    JOT
    JOTEBUFUJNF5;
    4PBSFQFBST
    JOT
    BTJEF

    )FSFJTBCFUUFSXBZPGNBSLJOHUIJTVQ*UVTFTNPSFFMFNFOUT CVUOPOFPGUIFFMFNFOUTDSPTTJNQMJFE
    QBSBHSBQICPVOEBSJFT

    BTJEF
    JOTEBUFUJNF5;
    Q*MJLFGSVJUQ
    JOT
    JOTEBUFUJNF5;
    "QQMFTBSFFNUBTUZFN
    JOT
    JOTEBUFUJNF5;
    4PBSFQFBST
    JOT
    BTJEF

       0B? ?@G ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    8IFOUIFFMFNFOUPOMZDPOUBJOT QISBTJOHDPOUFOU Q  QISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    5SBOTQBSFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    DJUF Q
    EBUFUJNF Q

    +)CHN?L@;=?
    6TFTUIF )5.-.PE&MFNFOU Q JOUFSGBDF

    5IF EFM Q FMFNFOU SFQSFTFOUT Q BSFNPWBMGSPNUIFEPDVNFOU

    EFM Q FMFNFOUTTIPVMEOPUDSPTT JNQMJFEQBSBHSBQI Q CPVOEBSJFT

    5IFGPMMPXJOHTIPXTBUPEPMJTUXIFSFJUFNTUIBUIBWFCFFOEPOFBSFDSPTTFEPЗXJUIUIFEBUFBOEUJNFPG
    UIFJSDPNQMFUJPO

    I5P%PI
    VM
    MJ&NQUZUIFEJTIXBTIFSMJ
    MJEFMEBUFUJNF58BUDI8BMUFS-FXJOTMFDUVSFTEFMMJ
    MJEFMEBUFUJNF5%PXOMPBENPSFUSBDLTEFMMJ
    MJ#VZBQSJOUFSMJ
    VM

    
       NNLC<ON?M=IGGIHNI DIN K ;H> ?@G K ?F?G?HNM

    5IF >DO@ BUUSJCVUFNBZCFVTFEUPTQFDJGZUIFBEESFTTPGBEPDVNFOUUIBUFYQMBJOTUIFDIBOHF8IFOUIBUEPDVNFOU


    JTMPOH GPSJOTUBODFUIFNJOVUFTPGBNFFUJOH BVUIPSTBSFFODPVSBHFEUPJODMVEFBGSBHNFOUJEFOUJИFSQPJOUJOHUPUIF
    TQFDJИDQBSUPGUIBUEPDVNFOUUIBUEJTDVTTFTUIFDIBOHF

    *GUIF DJUF Q BUUSJCVUFJTQSFTFOU JUNVTUCFB WBMJE63- Q UIBUFYQMBJOTUIFDIBOHF 5PPCUBJOUIFDPSSFTQPOEJOH


    DJUBUJPOMJOL UIFWBMVFPGUIFBUUSJCVUFNVTUCF SFTPMWFE Q SFMBUJWFUPUIFFMFNFOU6TFSBHFOUTTIPVMEBMMPXVTFSTUP
    GPMMPXTVDIDJUBUJPOMJOLT

    5IF ?<O@ODH@ BUUSJCVUFNBZCFVTFEUPTQFDJGZUIFUJNFBOEEBUFPGUIFDIBOHF

    *GQSFTFOU UIF EBUFUJNF Q BUUSJCVUFNVTUCFB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q WBMVF

    6TFSBHFOUTNVTUQBSTFUIF EBUFUJNF Q BUUSJCVUFBDDPSEJOHUPUIF QBSTFBHMPCBMEBUFBOEUJNFTUSJOH Q BMHPSJUIN*G


    UIBUEPFTOUSFUVSOBUJNF UIFOUIFNPEJИDBUJPOIBTOPBTTPDJBUFEUJNFTUBNQ UIFWBMVFJTOPODPOGPSNJOHJUJTOPUB
    WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q
    0UIFSXJTF UIFNPEJИDBUJPOJTNBSLFEBTIBWJOHCFFONBEFBUUIFHJWFO
    EBUFUJNF6TFSBHFOUTTIPVMEVTFUIFBTTPDJBUFEUJNF[POFPЗTFUJOGPSNBUJPOUPEFUFSNJOFXIJDIUJNF[POFUPQSFTFOU
    UIFHJWFOEBUFUJNFJO

    5IF JOT Q BOE EFM Q FMFNFOUT NVTU JNQMFNFOUUIF )5.-.PE&MFNFOU Q JOUFSGBDF

    JOUFSGBDF &2+*+J?#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH DJUF
    BUUSJCVUF%0.4USJOH EBUF5JNF
    ^

    5IF >DO@ *%-BUUSJCVUFNVTU SFЙFDU Q UIFFMFNFOUT DJUF Q DPOUFOUBUUSJCVUF5IF ?<O@2DH@ *%-BUUSJCVUFNVTU
    SFЙFDU Q UIFFMFNFOUT EBUFUJNF Q DPOUFOUBUUSJCVUF

       !>CNM;H>J;L;AL;JBM

    *78BB42C8>=8B=>==>A<0C8E4

    4JODFUIF JOT Q BOE EFM Q FMFNFOUTEPOPUBЗFDU QBSBHSBQIJOH Q JUJTQPTTJCMF JOTPNFDBTFTXIFSFQBSBHSBQIT
    BSF JNQMJFE Q XJUIPVUFYQMJDJU Q Q FMFNFOUT
    GPSBO JOT Q PS EFM Q FMFNFOUUPTQBOCPUIBOFOUJSFQBSBHSBQIPS
    PUIFSOPOQISBTJOHDPOUFOU Q FMFNFOUTBOEQBSUPGBOPUIFSQBSBHSBQI'PSFYBNQMF

    TFDUJPO
    JOT
    Q
    5IJTJTBQBSBHSBQIUIBUXBTJOTFSUFE
    Q
    5IJTJTBOPUIFSQBSBHSBQIXIPTFGJSTUTFOUFODFXBTJOTFSUFE
    BUUIFTBNFUJNFBTUIFQBSBHSBQIBCPWF
    JOT
    5IJTJTBTFDPOETFOUFODF XIJDIXBTUIFSFBMMBMPOH
    TFDUJPO

    #ZPOMZXSBQQJOHTPNFQBSBHSBQITJO Q Q FMFNFOUT POFDBOFWFOHFUUIFFOEPGPOFQBSBHSBQI BXIPMFTFDPOE


    QBSBHSBQI BOEUIFTUBSUPGBUIJSEQBSBHSBQIUPCFDPWFSFECZUIFTBNF JOT Q PS EFM Q FMFNFOU UIPVHIUIJTJTWFSZ
    DPOGVTJOH BOEOPUDPOTJEFSFEHPPEQSBDUJDF
    

    TFDUJPO
    5IJTJTUIFGJSTUQBSBHSBQIJOT5IJTTFOUFODFXBT
    JOTFSUFE
    Q5IJTTFDPOEQBSBHSBQIXBTJOTFSUFEQ
    5IJTTFOUFODFXBTJOTFSUFEUPPJOT5IJTJTUIF
    UIJSEQBSBHSBQIJOUIJTFYBNQMF
     EPOUEPUIJT
    
    TFDUJPO

    )PXFWFS EVFUPUIFXBZ JNQMJFEQBSBHSBQIT Q BSFEFИOFE JUJTOPUQPTTJCMFUPNBSLVQUIFFOEPGPOFQBSBHSBQIBOE


    UIFTUBSUPGUIFWFSZOFYUPOFVTJOHUIFTBNF JOT Q PS EFM Q FMFNFOU:PVJOTUFBEIBWFUPVTFPOF PSUXP
    Q Q
    FMFNFOU T
    BOEUXP JOT Q PS EFM Q FMFNFOUT BTGPSFYBNQMF

    
    TFDUJPO
    Q5IJTJTUIFGJSTUQBSBHSBQIEFM5IJTTFOUFODFXBT
    EFMFUFEEFMQ
    QEFM5IJTTFOUFODFXBTEFMFUFEUPPEFM5IBU
    TFOUFODFOFFEFEBTFQBSBUFMUEFMHUFMFNFOUQ
    TFDUJPO

    1BSUMZCFDBVTFPGUIFDPOGVTJPOEFTDSJCFEBCPWF BVUIPSTBSFTUSPOHMZFODPVSBHFEUPBMXBZTNBSLVQBMMQBSBHSBQIT
    XJUIUIF Q Q FMFNFOU JOTUFBEPGIBWJOH JOT Q PS EFM Q FMFNFOUTUIBUDSPTT JNQMJFEQBSBHSBQIT Q CPVOEBSJFT

       !>CNM;H>FCMNM

    *78BB42C8>=8B=>==>A<0C8E4

    5IFDPOUFOUNPEFMTPGUIF PM Q BOE VM Q FMFNFOUTEPOPUBMMPX JOT Q BOE EFM Q FMFNFOUTBTDIJMESFO-JTUT
    BMXBZTSFQSFTFOUBMMUIFJSJUFNT JODMVEJOHJUFNTUIBUXPVMEPUIFSXJTFIBWFCFFONBSLFEBTEFMFUFE

    5PJOEJDBUFUIBUBOJUFNJTJOTFSUFEPSEFMFUFE BO JOT Q PS EFM Q FMFNFOUDBOCFXSBQQFEBSPVOEUIFDPOUFOUTPG


    UIF MJ Q FMFNFOU5PJOEJDBUFUIBUBOJUFNIBTCFFOSFQMBDFECZBOPUIFS BTJOHMF MJ Q FMFNFOUDBOIBWFPOFPS
    NPSF EFM Q FMFNFOUTGPMMPXFECZPOFPSNPSF JOT Q FMFNFOUT

    *OUIFGPMMPXJOHFYBNQMF BMJTUUIBUTUBSUFEFNQUZIBEJUFNTBEEFEBOESFNPWFEGSPNJUPWFSUJNF5IFCJUTJO
    UIFFYBNQMFUIBUIBWFCFFOFNQIBTJ[FETIPXUIFQBSUTUIBUBSFUIFDVSSFOUTUBUFPGUIFMJTU5IFMJTUJUFN
    OVNCFSTEPOUUBLFJOUPBDDPVOUUIFFEJUT UIPVHI

    I4UPQTIJQCVHTI
    PM
    MJJOTEBUFUJNF5; PB
    0<DI?@O@>OJM?J@NIORJMFDINIJRJOTMJ
    MJEFMEBUFUJNF5;JOTEBUFUJNF5;#VH
    8BUFSCVGGFSPWFSGMPXTJO"QSJMJOTEFMMJ
    MJJOTEBUFUJNF5; PB
    5<O@MC@<O@M?J@NIOPN@M@I@R<=G@AP@GNJOTMJ
    MJEFMEBUFUJNF5;JOTEBUFUJNF5;#VH
    $BSCPOEJPYJEFFNJTTJPOTEFUFDUFEBGUFSTUBSUVQJOTEFMMJ
    PM

    *OUIFGPMMPXJOHFYBNQMF BMJTUUIBUTUBSUFEXJUIKVTUGSVJUXBTSFQMBDFECZBMJTUXJUIKVTUDPMPST

    I-JTUPGEFMGSVJUTEFMJOTDPMPSTJOTI
    VM
    MJEFM-JNFEFMJOT(SFFOJOTMJ
    MJEFM"QQMFEFMMJ
    MJ0SBOHFMJ
    MJEFM1FBSEFMMJ
    MJJOT5FBMJOTMJ
    MJEFM-FNPOEFMJOT:FMMPXJOTMJ
    MJ0MJWFMJ
    MJJOT1VSQMFJOTMJ
    VM

      !G<?>>?>=IHN?HN

       0B? DHB ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    &NCFEEFEDPOUFOU Q 
    *GUIFFMFNFOUIBTB VTFNBQ Q BUUSJCVUF *OUFSBDUJWFDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF FNCFEEFEDPOUFOU Q JTFYQFDUFE

    
    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    BMU Q
    TSD Q
    VTFNBQ Q
    JTNBQ Q
    XJEUI Q
    IFJHIU Q

    +)CHN?L@;=?

    </BNFE$POTUSVDUPS*NBHF

    /BNFE$POTUSVDUPS*NBHF JOVOTJHOFEMPOHXJEUI

    /BNFE$POTUSVDUPS*NBHF JOVOTJHOFEMPOHXJEUI JOVOTJHOFEMPOHIFJHIU
    >
    JOUFSGBDF &2+*'H<B@#G@H@IO  )5.-&MFNFOU \
    BUUSJCVUF%0.4USJOH BMU
    BUUSJCVUF%0.4USJOH TSD
    BUUSJCVUF%0.4USJOH VTF.BQ
    BUUSJCVUFCPPMFBO JT.BQ
    BUUSJCVUFVOTJHOFEMPOH XJEUI
    BUUSJCVUFVOTJHOFEMPOH IFJHIU
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH OBUVSBM8JEUI
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH OBUVSBM)FJHIU
    SFBEPOMZBUUSJCVUFCPPMFBO DPNQMFUF
    ^

    "O JNH Q FMFNFOUSFQSFTFOUTBOJNBHF

    5IFJNBHFHJWFOCZUIF NM> BUUSJCVUFJTUIFFNCFEEFEDPOUFOU BOEUIFWBMVFPGUIF <GO BUUSJCVUFJTUIF JNH Q


    FMFNFOUT GBMMCBDLDPOUFOU Q 

    5IF TSD Q BUUSJCVUFNVTUCFQSFTFOU BOENVTUDPOUBJOB WBMJEOPOFNQUZ63- Q SFGFSFODJOHBOPOJOUFSBDUJWF


    PQUJPOBMMZBOJNBUFE JNBHFSFTPVSDFUIBUJTOFJUIFSQBHFEOPSTDSJQUFE

    *HM> %F:@>L<:GMANL;>LM:MB<;BMF:IL> @ ,*#L #%"L &,!#L LBG@E>


    I:@>O><MHK=H<NF>GML
    LBG@E>
    I:@>, "L 4)([E>LPBMA:G/2#KHHM>E>F>GM :GBF:M>=;BMF:IL,*#L :GBF:M>=
    #%"L :GBF:M>=O><MHK@K:IAB<L4)([E>LPBMA:G/2#KHHM>E>F>GMMA:MNL>=><E:K:MBO>/)%(
    :GBF:MBHG :G=LH?HKMA $HP>O>K MABL:ELHIK><EN=>L/2#[E>LPBMAL<KBIM FNEMBI:@>, "[E>L
    BGM>K:<MBO>)*#[E>L $0)(=H<NF>GML IE:BGM>QM=H<NF>GML :G=LH?HKMA

    5IFSFRVJSFNFOUTPOUIF BMU Q BUUSJCVUFTWBMVFBSFEFTDSJCFE JOUIFOFYUTFDUJPO Q 

    5IF JNH Q NVTUOPUCFVTFEBTBMBZPVUUPPM*OQBSUJDVMBS JNH Q FMFNFOUTTIPVMEOPUCFVTFEUPEJTQMBZUSBOTQBSFOU


    JNBHFT BTUIFZSBSFMZDPOWFZNFBOJOHBOESBSFMZBEEBOZUIJOHVTFGVMUPUIFEPDVNFOU

    6OMFTTUIFVTFSBHFOUDBOOPUTVQQPSUJNBHFT PSJUTTVQQPSUGPSJNBHFTIBTCFFOEJTBCMFE PSUIFVTFSBHFOUPOMZ


    GFUDIFTFMFNFOUTPOEFNBOE UIFO XIFOBO JNH Q JTDSFBUFEXJUIB TSD Q BUUSJCVUF BOEXIFOFWFSUIF TSD Q
    BUUSJCVUFJTTFUTVCTFRVFOUMZ UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     *GUIFFMFNFOUT TSD Q BUUSJCVUFTWBMVFJTUIFFNQUZTUSJOH UIFO RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q


    OBNFE FSSPS BUUIF JNH Q FMFNFOU BOEBCPSUUIFTFTUFQT

     0UIFSXJTF SFTPMWF Q UIFWBMVFPGUIBUBUUSJCVUF SFMBUJWFUPUIFFMFNFOU BOEJGUIBUJTTVDDFTTGVMNVTUUIFO


    GFUDI Q UIBUSFTPVSDF

    'FUDIJOHUIFJNBHFNVTU EFMBZUIFMPBEFWFOU Q PGUIFFMFNFOUTEPDVNFOUVOUJMUIF UBTL Q UIBUJT


    RVFVFE Q CZUIF OFUXPSLJOHUBTLTPVSDF Q PODFUIFSFTPVSDFIBTCFFO GFUDIFE Q EFИOFECFMPX Q
    IBT
    CFFOSVO

    [3;LHCHA 0ABL NG?HKMNG:M>ER <:G;>NL>=MHI>K?HKF:KN=BF>GM:KRIHKML<:GH?MA>NL>KL


    EH<:EG>MPHKD>LI><B:EERBG<HGCNG<MBHGPBMAL<KBIMBG@ MAHN@AL<KBIMBG@BLGM:<MN:EERG><>LL:KR

    
    MH<:KKRHNMLN<A:G:MM:<D 1L>K:@>GMLF:RBFIE>F>GM <KHLL
    HKB@BG I :<<>LL<HGMKHEIHEB<B>L
    MA:MFBMB@:M>MABL:MM:<D

    *GUIFJNBHFJTJOBTVQQPSUFEJNBHFUZQFBOEJUTEJNFOTJPOTBSFLOPXO UIFOUIFJNBHFJTTBJEUPCF :O:BE:;E> UIJT


    BЗFDUTFYBDUMZXIBUUIFFMFNFOUSFQSFTFOUT BTEFИOFECFMPX
    5IJTDBOCFUSVFFWFOCFGPSFUIFJNBHFJTDPNQMFUFMZ
    EPXOMPBEFE JGUIFVTFSBHFOUTVQQPSUTJODSFNFOUBMSFOEFSJOHPGJNBHFTJOTVDIDBTFT FBDI UBTL Q UIBUJT
    RVFVFE Q CZUIF OFUXPSLJOHUBTLTPVSDF Q XIJMFUIFJNBHFJTCFJOH GFUDIFE Q NVTUVQEBUFUIFQSFTFOUBUJPOPGUIF
    JNBHFBQQSPQSJBUFMZ*UDBOBMTPTUPQCFJOHUSVF FHJGUIFVTFSBHFOUИOET BGUFSPCUBJOJOHUIFJNBHFTEJNFOTJPOT
    UIBUUIFJNBHFEBUBJTBDUVBMMZGBUBMMZDPSSVQUFE

    *GUIFJNBHFXBTOPUGFUDIFE FHCFDBVTFUIF6"TJNBHFTVQQPSUJTEJTBCMFE PSCFDBVTFUIF TSD Q BUUSJCVUFTWBMVF


    JTUIFFNQUZTUSJOH PSJGUIFDPOEJUJPOTJOUIFQSFWJPVTQBSBHSBQIBSFOPUNFU UIFOUIFJNBHFJT =>C 0E08;01;4 ?  

    8IFUIFSUIFJNBHFJTGFUDIFETVDDFTTGVMMZPSOPU FHXIFUIFSUIFSFTQPOTFDPEFXBTBYYDPEF PSFRVJWBMFOU Q

    NVTUCFJHOPSFEXIFOEFUFSNJOJOHUIFJNBHFTUZQFBOEXIFUIFSJUJTBWBMJEJNBHF

    *HM> 0ABL:EEHPLL>KO>KLMHK>MNKGBF:@>LPBMA>KKHKK>LIHGL>L :G=A:O>MA>F=BLIE:R>=

    5IFVTFSBHFOUTTIPVMEBQQMZUIF JNBHFTOJКOHSVMFT Q UPEFUFSNJOFUIFUZQFPGUIFJNBHF XJUIUIFJNBHFT


    BTTPDJBUFE$POUFOU5ZQFIFBEFST Q HJWJOHUIF >R280;CH?4*GUIFTFSVMFTBSFOPUBQQMJFE UIFOUIFUZQFPGUIFJNBHF
    NVTUCFUIFUZQFHJWFOCZUIFJNBHFT BTTPDJBUFE$POUFOU5ZQFIFBEFST Q 

    6TFSBHFOUTNVTUOPUTVQQPSUOPOJNBHFSFTPVSDFTXJUIUIF JNH Q FMFNFOU FH9.-ИMFTXIPTFSPPUFMFNFOUJTBO


    )5.-FMFNFOU
    6TFSBHFOUTNVTUOPUSVOFYFDVUBCMFDPEF FHTDSJQUT
    FNCFEEFEJOUIFJNBHFSFTPVSDF6TFSBHFOUT
    NVTUPOMZEJTQMBZUIFИSTUQBHFPGBNVMUJQBHFSFTPVSDF FHB1%'ИMF
    6TFSBHFOUTNVTUOPUBMMPXUIFSFTPVSDFUP
    BDUJOBOJOUFSBDUJWFGBTIJPO CVUTIPVMEIPOPSBOZBOJNBUJPOJOUIFSFTPVSDF

    5IJTTQFDJИDBUJPOEPFTOPUTQFDJGZXIJDIJNBHFUZQFTBSFUPCFTVQQPSUFE

    5IF UBTL Q UIBUJT RVFVFE Q CZUIF OFUXPSLJOHUBTLTPVSDF Q PODFUIFSFTPVSDFIBTCFFO GFUDIFE Q NVTUBDUBT
    BQQSPQSJBUFHJWFOUIFGPMMPXJOHBMUFSOBUJWFT
    I
    X %@NB?>IQHFI;>Q;MMO==?MM@OF;H>NB?CG;A?CM :O:BE:;E>
    2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BUUIF JNH Q FMFNFOU UIJTIBQQFOTBGUFS
    DPNQMFUF Q TUBSUTSFUVSOJOHUSVF
    

    X +NB?LQCM?NB?@?N=BCHAJLI=?MM@;CF?>QCNBION;L?MJIHM?@LIGNB?L?GIN?M?LP?L
    IL=IGJF?N?><ON
    NB?CG;A?CMHIN;MOJJILN?>CG;A?
    2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FSSPS POUIF JNH Q FMFNFOU

    5IF UBTLTPVSDF Q GPSUIFTF UBTLT Q JTUIF %0.NBOJQVMBUJPOUBTLTPVSDF Q 

    8IBUBO JNH Q FMFNFOUSFQSFTFOUTEFQFOETPOUIF TSD Q BUUSJCVUFBOEUIF BMU Q BUUSJCVUF
    K
    X %@NB? NM> ;NNLC<ON?CMM?N;H>NB? <GO K ;NNLC<ON?CMM?NNINB??GJNSMNLCHA
    5IFJNBHFJTFJUIFSEFDPSBUJWFPSTVQQMFNFOUBMUPUIFSFTUPGUIFDPOUFOU SFEVOEBOUXJUITPNFPUIFS
    JOGPSNBUJPOJOUIFEPDVNFOU

    *GUIFJNBHFJT 0E08;01;4 ?  BOEUIFVTFSBHFOUJTDPOИHVSFEUPEJTQMBZUIBUJNBHF UIFOUIFFMFNFOU


    SFQSFTFOUT Q UIFJNBHFTQFDJИFECZUIF TSD Q BUUSJCVUF

    0UIFSXJTF UIFFMFNFOU SFQSFTFOUT Q OPUIJOH BOENBZCFPNJUUFEDPNQMFUFMZGSPNUIFSFOEFSJOH6TFS


    BHFOUTNBZQSPWJEFUIFVTFSXJUIBOPUJИDBUJPOUIBUBOJNBHFJTQSFTFOUCVUIBTCFFOPNJUUFEGSPNUIF
    SFOEFSJOH
    K
    X %@NB? NM> ;NNLC<ON?CMM?N;H>NB? <GO K ;NNLC<ON?CMM?NNI;P;FO?NB;NCMHN?GJNS
    5IFJNBHFJTBLFZQBSUPGUIFDPOUFOUUIF BMU Q BUUSJCVUFHJWFTBUFYUVBMFRVJWBMFOUPSSFQMBDFNFOUGPSUIF
    JNBHF

    *GUIFJNBHFJT 0E08;01;4 ?  BOEUIFVTFSBHFOUJTDPOИHVSFEUPEJTQMBZUIBUJNBHF UIFOUIFFMFNFOU


    SFQSFTFOUT Q UIFJNBHFTQFDJИFECZUIF TSD Q BUUSJCVUF

    0UIFSXJTF UIFFMFNFOU SFQSFTFOUT Q UIFUFYUHJWFOCZUIF BMU Q BUUSJCVUF6TFSBHFOUTNBZQSPWJEFUIF


    VTFSXJUIBOPUJИDBUJPOUIBUBOJNBHFJTQSFTFOUCVUIBTCFFOPNJUUFEGSPNUIFSFOEFSJOH
    K
    X %@NB? NM> ;NNLC<ON?CMM?N;H>NB? <GO K ;NNLC<ON?CMHIN
    5IFJNBHFNJHIUCFBLFZQBSUPGUIFDPOUFOU BOEUIFSFJTOPUFYUVBMFRVJWBMFOUPGUIFJNBHFBWBJMBCMF

    
    *HM> %G:<HG?HKFBG@=H<NF>GM MA>:;L>G<>H?MA> :EM I :MMKB;NM>BG=B<:M>LMA:MMA>
    BF:@>BL:D>RI:KMH?MA><HGM>GM;NMMA:M:M>QMN:EK>IE:<>F>GM?HKMA>BF:@>P:LGHM
    :O:BE:;E>PA>GMA>BF:@>P:L@>G>K:M>=

    *GUIFJNBHFJT 0E08;01;4 ?  UIFFMFNFOU SFQSFTFOUT Q UIFJNBHFTQFDJИFECZUIF TSD Q BUUSJCVUF

    *GUIFJNBHFJTOPU 0E08;01;4 ?  PSJGUIFVTFSBHFOUJTOPUDPOИHVSFEUPEJTQMBZUIFJNBHF UIFOUIFVTFS


    BHFOUTIPVMEEJTQMBZTPNFTPSUPGJOEJDBUPSUIBUUIFSFJTBOJNBHFUIBUJTOPUCFJOHSFOEFSFE BOENBZ JG
    SFRVFTUFECZUIFVTFS PSJGTPDPOИHVSFE PSXIFOSFRVJSFEUPQSPWJEFDPOUFYUVBMJOGPSNBUJPOJOSFTQPOTFUP
    OBWJHBUJPO QSPWJEFDBQUJPOJOGPSNBUJPOGPSUIFJNBHF EFSJWFEBTGPMMPXT

     *GUIFJNBHFIBTB UJUMF Q BUUSJCVUFXIPTFWBMVFJTOPUUIFFNQUZTUSJOH UIFOUIFWBMVFPGUIBU


    BUUSJCVUFJTUIFDBQUJPOJOGPSNBUJPOBCPSUUIFTFTUFQT

     *GUIFJNBHFJTUIFDIJMEPGB GJHVSF Q FMFNFOUUIBUIBTBDIJME GJHDBQUJPO Q FMFNFOU UIFOUIF


    DPOUFOUTPGUIFИSTUTVDI GJHDBQUJPO Q FMFNFOUBSFUIFDBQUJPOJOGPSNBUJPOBCPSUUIFTFTUFQT

     3VOUIFBMHPSJUINUPDSFBUFUIF PVUMJOF Q GPSUIFEPDVNFOU

     *GUIF JNH Q FMFNFOUEJEOPUFOEVQBTTPDJBUFEXJUIBIFBEJOHJOUIFPVUMJOF PSJGUIFSFBSFBOZ


    PUIFSJNBHFTUIBUBSFMBDLJOHBO BMU Q BUUSJCVUFBOEUIBUBSFBTTPDJBUFEXJUIUIFTBNFIFBEJOHJO
    UIFPVUMJOFBTUIF JNH Q FMFNFOUJORVFTUJPO UIFOUIFSFJTOPDBQUJPOJOGPSNBUJPOBCPSUUIFTF
    TUFQT

     5IFDBQUJPOJOGPSNBUJPOJTUIFIFBEJOHXJUIXIJDIUIFJNBHFJTBTTPDJBUFEBDDPSEJOHUPUIFPVUMJOF
    K
    X %@NB? NM> ;NNLC<ON?CMHINM?N;H>?CNB?LNB? <GO K ;NNLC<ON?CMM?NNINB??GJNSMNLCHAILNB? <GO K
    ;NNLC<ON?CMHINM?N;N;FF
    5IFFMFNFOU SFQSFTFOUT Q OPUIJOH

    X +NB?LQCM?
    5IFFMFNFOU SFQSFTFOUT Q UIFUFYUHJWFOCZUIF BMU Q BUUSJCVUF

    5IF BMU Q BUUSJCVUFEPFTOPUSFQSFTFOUBEWJTPSZJOGPSNBUJPO6TFSBHFOUTNVTUOPUQSFTFOUUIFDPOUFOUTPGUIF BMU Q


    BUUSJCVUFJOUIFTBNFXBZBTDPOUFOUPGUIF UJUMF Q BUUSJCVUF

    6TFSBHFOUTNBZBMXBZTQSPWJEFUIFVTFSXJUIUIFPQUJPOUPEJTQMBZBOZJNBHF PSUPQSFWFOUBOZJNBHFGSPNCFJOH
    EJTQMBZFE6TFSBHFOUTNBZBMTPBQQMZIFVSJTUJDTUPIFMQUIFVTFSNBLFVTFPGUIFJNBHFXIFOUIFVTFSJTVOBCMFUP
    TFFJU FHEVFUPBWJTVBMEJTBCJMJUZPSCFDBVTFUIFZBSFVTJOHBUFYUUFSNJOBMXJUIOPHSBQIJDTDBQBCJMJUJFT4VDI
    IFVSJTUJDTDPVMEJODMVEF GPSJOTUBODF PQUJDBMDIBSBDUFSSFDPHOJUJPO 0$3
    PGUFYUGPVOEXJUIJOUIFJNBHF

    [3;LHCHA 3ABE>NL>K:@>GML:K>>G<HNK:@>=MHK>I:BK<:L>LH?FBLLBG@ :EM I :MMKB;NM>L :NMAHKLFNLM


    GHMK>ERHGLN<A;>A:OBHK .>JNBK>F>GML?HKIKHOB=BG@M>QMMH:<M:L:G:EM>KG:MBO>?HKBF:@>L I  :K>
    =>L<KB;>=BG=>M:BE;>EHP

    5IF 2>=C4=CB PG JNH Q FMFNFOUT JGBOZ BSFJHOPSFEGPSUIFQVSQPTFTPGSFOEFSJOH

    5IF VTFNBQ Q BUUSJCVUF JGQSFTFOU DBOJOEJDBUFUIBUUIFJNBHFIBTBOBTTPDJBUFE JNBHFNBQ Q 

    5IF DNH<K BUUSJCVUF XIFOVTFEPOBOFMFNFOUUIBUJTBEFTDFOEBOUPGBO B Q FMFNFOUXJUIBO ISFG Q BUUSJCVUF


    JOEJDBUFTCZJUTQSFTFODFUIBUUIFFMFNFOUQSPWJEFTBDDFTTUPBTFSWFSTJEFJNBHFNBQ5IJTBЗFDUTIPXFWFOUTBSF
    IBOEMFEPOUIFDPSSFTQPOEJOH B Q FMFNFOU

    5IF JTNBQ Q BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q 5IFBUUSJCVUFNVTUOPUCFTQFDJИFEPOBOFMFNFOUUIBUEPFTOPUIBWF


    BOBODFTUPS B Q FMFNFOUXJUIBO ISFG Q BUUSJCVUF

    5IF JNH Q FMFNFOUTVQQPSUT EJNFOTJPOBUUSJCVUFT Q 

    5IF*%-BUUSJCVUFT <GO NM> PN@+<K BOE DN+<K FBDINVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNF
    OBNF

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G

    
    BF:@> RD?OC K 7 O:EN> 8
    BF:@> C@DBCO K 7 O:EN> 8
    5IFTFBUUSJCVUFTSFUVSOUIFBDUVBMSFOEFSFEEJNFOTJPOTPGUIFJNBHF PS[FSPJGUIFEJNFOTJPOTBSFOPU
    LOPXO
    5IFZDBOCFTFU UPDIBOHFUIFDPSSFTQPOEJOHDPOUFOUBUUSJCVUFT

    BF:@> I<OPM<G5D?OC K


    BF:@> I<OPM<G&@DBCO K
    5IFTFBUUSJCVUFTSFUVSOUIFJOUSJOTJDEJNFOTJPOTPGUIFJNBHF PS[FSPJGUIFEJNFOTJPOTBSFOPULOPXO

    BF:@> >JHKG@O@ K


    3FUVSOTUSVFJGUIFJNBHFIBTCFFOEPXOMPBEFE EFDPEFE BOEGPVOEUPCFWBMJEPUIFSXJTF SFUVSOTGBMTF

    BF:@> H?Q 'H<B@ K 7 PB=MA 7


    A>B@AM 88
    3FUVSOTBOFX JNH Q FMFNFOU XJUIUIF XJEUI Q BOE IFJHIU Q BUUSJCVUFTTFUUPUIFWBMVFTQBTTFEJOUIF
    SFMFWBOUBSHVNFOUT JGBQQMJDBCMF

    5IF*%-BUUSJCVUFT RD?OC BOE C@DBCO NVTUSFUVSOUIFSFOEFSFEXJEUIBOEIFJHIUPGUIFJNBHF JO$44QJYFMT JGUIF


    JNBHFJT CFJOHSFOEFSFE Q BOEJTCFJOHSFOEFSFEUPBWJTVBMNFEJVNPSFMTFUIFJOUSJOTJDXJEUIBOEIFJHIUPGUIF
    JNBHF JO$44QJYFMT JGUIFJNBHFJT 0E08;01;4 ?  CVUOPUCFJOHSFOEFSFEUPBWJTVBMNFEJVNPSFMTF JGUIFJNBHFJT
    OPU 0E08;01;4 ?   <$44> Q

    0OTFUUJOH UIFZNVTUBDUBTJGUIFZ SFЙFDUFE Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF*%-BUUSJCVUFT I<OPM<G5D?OC BOE I<OPM<G&@DBCO NVTUSFUVSOUIFJOUSJOTJDXJEUIBOEIFJHIUPGUIFJNBHF JO$44


    QJYFMT JGUIFJNBHFJT 0E08;01;4 ?  PSFMTF <$44> Q

    5IF*%-BUUSJCVUF >JHKG@O@ NVTUSFUVSOUSVFJGUIFVTFSBHFOUIBTGFUDIFEUIFJNBHFTQFDJИFEJOUIF TSD Q BUUSJCVUF


    BOEJUJTJOBTVQQPSUFEJNBHFUZQF JFJUXBTEFDPEFEXJUIPVUGBUBMFSSPST
    FWFOJGUIFИOBM UBTL Q RVFVFECZUIF
    OFUXPSLJOHUBTLTPVSDF Q GPSUIF GFUDIJOH Q PGUIFJNBHFSFTPVSDFIBTOPUZFUCFFOQSPDFTTFE0UIFSXJTF UIF
    BUUSJCVUFNVTUSFUVSOGBMTF

    *HM> 0A>O:EN>H? <HFIE>M> I <:GMANL<A:G@>PABE>: L<KBIM I BL>Q><NMBG@

    5ISFFDPOTUSVDUPSTBSFQSPWJEFEGPSDSFBUJOH )5.-*NBHF&MFNFOU Q PCKFDUT JOBEEJUJPOUPUIFGBDUPSZNFUIPETGSPN


    %0.$PSFTVDIBT DSFBUF&MFNFOU

     'H<B@ 'H<B@PB=MA BOE 'H<B@PB=MA A>B@AM8IFOJOWPLFEBT


    DPOTUSVDUPST UIFTFNVTUSFUVSOBOFX )5.-*NBHF&MFNFOU Q PCKFDU BOFX JNH Q FMFNFOU
    *GUIF F83C7 BSHVNFOUJT
    QSFTFOU UIFOFXPCKFDUT XJEUI Q DPOUFOUBUUSJCVUFNVTUCFTFUUP F83C7*GUIF 74867C BSHVNFOUJTBMTPQSFTFOU UIF
    OFXPCKFDUT IFJHIU Q DPOUFOUBUUSJCVUFNVTUCFTFUUP 74867C5IFFMFNFOUTEPDVNFOUNVTUCFUIF BDUJWF
    EPDVNFOU Q PGUIF CSPXTJOHDPOUFYU Q PGUIF 8JOEPX Q PCKFDUPOXIJDIUIFJOUFSGBDFPCKFDUPGUIFJOWPLFE
    DPOTUSVDUPSJTGPVOE

    "TJOHMFJNBHFDBOIBWFEJЗFSFOUBQQSPQSJBUFBMUFSOBUJWFUFYUEFQFOEJOHPOUIFDPOUFYU

    *OFBDIPGUIFGPMMPXJOHDBTFT UIFTBNFJNBHFJTVTFE ZFUUIF BMU Q UFYUJTEJЗFSFOUFBDIUJNF5IFJNBHFJT


    UIFDPBUPGBSNTPGUIF$BSPVHFNVOJDJQBMJUZJOUIFDBOUPO(FOFWBJO4XJU[FSMBOE

    )FSFJUJTVTFEBTBTVQQMFNFOUBSZJDPO

    Q*MJWFEJOJNHTSDDBSPVHFTWHBMU$BSPVHFQ

    )FSFJUJTVTFEBTBOJDPOSFQSFTFOUJOHUIFUPXO

    Q)PNFUPXOJNHTSDDBSPVHFTWHBMU$BSPVHFQ

    )FSFJUJTVTFEBTQBSUPGBUFYUPOUIFUPXO

    Q$BSPVHFIBTBDPBUPGBSNTQ
    QJNHTSDDBSPVHFTWHBMU5IFDPBUPGBSNTEFQJDUTBMJPO TJUUJOHJOGSPOUPGB
    USFFQ
    Q*UJTVTFEBTEFDPSBUJPOBMMPWFSUIFUPXOQ

    )FSFJUJTVTFEBTBXBZUPTVQQPSUBTJNJMBSUFYUXIFSFUIFEFTDSJQUJPOJTHJWFOBTXFMMBT JOTUFBEPGBTBO
    BMUFSOBUJWFUP UIFJNBHF

    
    Q$BSPVHFIBTBDPBUPGBSNTQ
    QJNHTSDDBSPVHFTWHBMUQ
    Q5IFDPBUPGBSNTEFQJDUTBMJPO TJUUJOHJOGSPOUPGBUSFF
    *UJTVTFEBTEFDPSBUJPOBMMPWFSUIFUPXOQ

    )FSFJUJTVTFEBTQBSUPGBTUPSZ

    Q)FQJDLFEVQUIFGPMEFSBOEBQJFDFPGQBQFSGFMMPVUQ
    QJNHTSDDBSPVHFTWHBMU4IBQFEMJLFBTIJFME UIFQBQFSIBEB
    SFECBDLHSPVOE BHSFFOUSFF BOEBZFMMPXMJPOXJUIJUTUPOHVF
    IBOHJOHPVUBOEXIPTFUBJMXBTTIBQFEMJLFBO4Q
    Q)FTUBSFEBUUIFGPMEFS45IFBOTXFSIFIBECFFOMPPLJOHGPSBMM
    UIJTUJNFXBTTJNQMZUIFMFUUFS4)PXIBEIFOPUTFFOUIBUCFGPSF *UBMM
    DBNFUPHFUIFSOPX5IFQIPOFDBMMXIFSF)FDUPSIBESFGFSSFEUPBMJPOTUBJM
    UIFUJNF.BSDPIBETUVDLIJTUPOHVFPVUQ

    )FSFJUJTOPULOPXOBUUIFUJNFPGQVCMJDBUJPOXIBUUIFJNBHFXJMMCF POMZUIBUJUXJMMCFBDPBUPGBSNTPGTPNF
    LJOE BOEUIVTOPSFQMBDFNFOUUFYUDBOCFQSPWJEFE BOEJOTUFBEPOMZBCSJFGDBQUJPOGPSUIFJNBHFJTQSPWJEFE
    JOUIF UJUMF Q BUUSJCVUF

    Q5IFMBTUVTFSUPIBWFVQMPBEFEBDPBUPGBSNTVQMPBEFEUIJTPOFQ
    QJNHTSDMBTUVQMPBEFEDPBUPGBSNTDHJUJUMF6TFSVQMPBEFEDPBUPGBSNTQ

    *EFBMMZ UIFBVUIPSXPVMEИOEBXBZUPQSPWJEFSFBMSFQMBDFNFOUUFYUFWFOJOUIJTDBTF FHCZBTLJOHUIF


    QSFWJPVTVTFS/PUQSPWJEJOHSFQMBDFNFOUUFYUNBLFTUIFEPDVNFOUNPSFEJКDVMUUPVTFGPSQFPQMFXIPBSF
    VOBCMFUPWJFXJNBHFT FHCMJOEVTFST PSVTFSTPSWFSZMPXCBOEXJEUIDPOOFDUJPOTPSXIPQBZCZUIFCZUF PS
    VTFSTXIPBSFGPSDFEUPVTFBUFYUPOMZ8FCCSPXTFS

    )FSFBSFTPNFNPSFFYBNQMFTTIPXJOHUIFTBNFQJDUVSFVTFEJOEJЗFSFOUDPOUFYUT XJUIEJЗFSFOUBQQSPQSJBUF
    BMUFSOBUFUFYUTFBDIUJNF

    BSUJDMF
    I.ZDBUTI
    I'MVGGZI
    Q'MVGGZJTNZGBWPSJUFQ
    JNHTSDGMVGGZKQHBMU4IFMJLFTQMBZJOHXJUIBCBMMPGZBSO
    Q4IFTKVTUUPPDVUFQ
    I.JMFTI
    Q.ZPUIFSDBU .JMFTKVTUFBUTBOETMFFQTQ
    BSUJDMF
    BSUJDMF
    I1IPUPHSBQIZI
    I4IPPUJOHNPWJOHUBSHFUTJOEPPSTI
    Q5IFUSJDLIFSFJTUPLOPXIPXUPBOUJDJQBUFUPLOPXBUXIBUTQFFEBOE
    XIBUEJTUBODFUIFTVCKFDUXJMMQBTTCZQ
    JNHTSDGMVGGZKQHBMU"DBUGMZJOHCZ DIBTJOHBCBMMPGZBSO DBOCF
    QIPUPHSBQIFERVJUFOJDFMZVTJOHUIJTUFDIOJRVF
    I/BUVSFCZOJHIUI
    Q5PBDIJFWFUIJT ZPVMMOFFEFJUIFSBOFYUSFNFMZTFOTJUJWFGJMN PS
    JNNFOTFGMBTIMJHIUTQ
    BSUJDMF
    BSUJDMF
    I"CPVUNFI
    I.ZQFUTI
    Q*WFHPUBDBUOBNFE'MVGGZBOEBEPHOBNFE.JMFTQ
    JNHTSDGMVGGZKQHBMU'MVGGZ NZDBU UFOETUPLFFQJUTFMGCVTZ
    Q.ZEPH.JMFTBOE*MJLFHPPOMPOHXBMLTUPHFUIFSQ
    INVTJDI
    Q"GUFSPVSXBMLT IBWJOHFNQUJFENZNJOE *MJLFMJTUFOJOHUP#BDIQ
    BSUJDMF
    BSUJDMF
    I'MVGGZBOEUIF:BSOI
    Q'MVGGZXBTBDBUXIPMJLFEUPQMBZXJUIZBSO)FBMTPMJLFEUPKVNQQ
    BTJEFJNHTSDGMVGGZKQHBMUUJUMF'MVGGZBTJEF
    Q)FXPVMEQMBZJOUIFNPSOJOH IFXPVMEQMBZJOUIFFWFOJOHQ
    BSUJDMF

    
        .?KOCL?G?HNM@ILJLIPC>CHAN?RNNI;=N;M;H;FN?LH;NCP?@ILCG;A?M

    &YDFQUXIFSFPUIFSXJTFTQFDJИFE UIF BMU Q BUUSJCVUFNVTUCFTQFDJИFEBOEJUTWBMVFNVTUOPUCFFNQUZUIFWBMVF


    NVTUCFBOBQQSPQSJBUFSFQMBDFNFOUGPSUIFJNBHF5IFTQFDJИDSFRVJSFNFOUTGPSUIF BMU Q BUUSJCVUFEFQFOEPOXIBU
    UIFJNBHFJTJOUFOEFEUPSFQSFTFOU BTEFTDSJCFEJOUIFGPMMPXJOHTFDUJPOT

         EBGDHK;NMMHG<HGM:BGBG@GHMABG@;NMMA>BF:@>

    8IFOBO B Q FMFNFOUUIBUJTB IZQFSMJOL Q PSB CVUUPO Q FMFNFOU IBTOPUFYUVBMDPOUFOUCVUDPOUBJOTPOFPS
    NPSFJNBHFT UIF BMU Q BUUSJCVUFTNVTUDPOUBJOUFYUUIBUUPHFUIFSDPOWFZUIFQVSQPTFPGUIFMJOLPSCVUUPO

    *OUIJTFYBNQMF BVTFSJTBTLFEUPQJDLIJTQSFGFSSFEDPMPSGSPNBMJTUPGUISFF&BDIDPMPSJTHJWFOCZBOJNBHF
    CVUGPSVTFSTXIPIBWFDPOИHVSFEUIFJSVTFSBHFOUOPUUPEJTQMBZJNBHFT UIFDPMPSOBNFTBSFVTFEJOTUFBE

    I1JDLZPVSDPMPSI
    VM
    MJBISFGHSFFOIUNMDHBNM>BM@@I EK@B<GO%M@@IBMJ
    MJBISFGCMVFIUNMDHBNM>=GP@ EK@B<GO GP@BMJ
    MJBISFGSFEIUNMDHBNM>M@? EK@B<GO0@?BMJ
    VM

    *OUIJTFYBNQMF FBDICVUUPOIBTBTFUPGJNBHFTUPJOEJDBUFUIFLJOEPGDPMPSPVUQVUEFTJSFECZUIFVTFS5IF
    ИSTUJNBHFJTVTFEJOFBDIDBTFUPHJWFUIFBMUFSOBUJWFUFYU

    CVUUPOOBNFSHCDHBNM>M@?<GO0% DHBNM>BM@@I<GODHBNM>=GP@
    <GOCVUUPO
    CVUUPOOBNFDNZLDHBNM>>T<I<GO!+7)DHBNM>H<B@IO<<GODHB
    NM>T@GGJR<GODHBNM>=G<>F<GOCVUUPO

    4JODFFBDIJNBHFSFQSFTFOUTPOFQBSUPGUIFUFYU JUDPVMEBMTPCFXSJUUFOMJLFUIJT

    CVUUPOOBNFSHCDHBNM>M@?<GO0DHBNM>BM@@I<GO%DHBNM>=GP@
    <GO CVUUPO
    CVUUPOOBNFDNZLDHBNM>>T<I<GO!DHBNM>H<B@IO<<GO+DHBNM>T@GGJR
    <GO7DHBNM>=G<>F<GO)CVUUPO

    )PXFWFS XJUIPUIFSBMUFSOBUJWFUFYU UIJTNJHIUOPUXPSL BOEQVUUJOHBMMUIFBMUFSOBUJWFUFYUJOUPPOFJNBHFJO


    FBDIDBTFNJHIUNBLFNPSFTFOTF

    CVUUPOOBNFSHCDHBNM>M@?<GON0% KMJADG@DHBNM>BM@@I<GODHB
    NM>=GP@<GOCVUUPO
    CVUUPOOBNFDNZLDHBNM>>T<I<GO!+7)KMJADG@DHBNM>H<B@IO<<GODHB
    NM>T@GGJR<GODHBNM>=G<>F<GOCVUUPO

         IAK:L>HKI:K:@K:IAPBMA:G:EM>KG:MBO>@K:IAB<:EK>IK>L>GM:MBHG<A:KML =B:@K:FL @K:IAL


    F:IL BEENLMK:MBHGL

    4PNFUJNFTTPNFUIJOHDBOCFNPSFDMFBSMZTUBUFEJOHSBQIJDBMGPSN GPSFYBNQMFBTBЙPXDIBSU BEJBHSBN BHSBQI PS


    BTJNQMFNBQTIPXJOHEJSFDUJPOT*OTVDIDBTFT BOJNBHFDBOCFHJWFOVTJOHUIF JNH Q FMFNFOU CVUUIFMFTTFS
    UFYUVBMWFSTJPONVTUTUJMMCFHJWFO TPUIBUVTFSTXIPBSFVOBCMFUPWJFXUIFJNBHF FHCFDBVTFUIFZIBWFBWFSZ
    TMPXDPOOFDUJPO PSCFDBVTFUIFZBSFVTJOHBUFYUPOMZCSPXTFS PSCFDBVTFUIFZBSFMJTUFOJOHUPUIFQBHFCFJOHSFBE
    PVUCZBIBOETGSFFBVUPNPCJMFWPJDF8FCCSPXTFS PSTJNQMZCFDBVTFUIFZBSFCMJOE
    BSFTUJMMBCMFUPVOEFSTUBOEUIF
    NFTTBHFCFJOHDPOWFZFE

    5IFUFYUNVTUCFHJWFOJOUIF BMU Q BUUSJCVUF BOENVTUDPOWFZUIFTBNFNFTTBHFBTUIFJNBHFTQFDJИFEJOUIF


    TSD Q BUUSJCVUF

    *UJTJNQPSUBOUUPSFBMJ[FUIBUUIFBMUFSOBUJWFUFYUJTB A4?;024<4=C GPSUIFJNBHF OPUBEFTDSJQUJPOPGUIFJNBHF

    *OUIFGPMMPXJOHFYBNQMFXFIBWF BЙPXDIBSU JOJNBHFGPSN XJUIUFYUJOUIF BMU Q BUUSJCVUFSFQISBTJOHUIF


    ЙPXDIBSUJOQSPTFGPSN

    Q*OUIFDPNNPODBTF UIFEBUBIBOEMFECZUIFUPLFOJ[BUJPOTUBHF
    DPNFTGSPNUIFOFUXPSL CVUJUDBOBMTPDPNFGSPNTDSJQUQ
    QDHBNM>DH<B@NK<MNDIB HJ?@G JQ@MQD@R KIB<GO2C@I@ORJMF
    K<NN@N?<O<OJOC@2JF@IDU@MNO<B@ RCD>CK<NN@N?<O<OJOC@2M@@
    !JINOMP>ODJINO<B@ $MJHOC@M@ ?<O<BJ@NOJ=JOCOC@"-+<I?OJ

    
    1>MDKO#S@>PODJI 1>MDKO#S@>PODJIDNGDIF@?OJOC@"-+ <I? PNDIB
    ?J>PH@IO RMDO@ K<NN@N?<O<OJOC@2JF@IDU@M Q

    )FSFTBOPUIFSFYBNQMF TIPXJOHBHPPETPMVUJPOBOEBCBETPMVUJPOUPUIFQSPCMFNPGJODMVEJOHBOJNBHFJOB
    EFTDSJQUJPO

    'JSTU IFSFTUIFHPPETPMVUJPO5IJTTBNQMFTIPXTIPXUIFBMUFSOBUJWFUFYUTIPVMEKVTUCFXIBUZPVXPVMEIBWF
    QVUJOUIFQSPTFJGUIFJNBHFIBEOFWFSFYJTUFE

    5IJTJTUIFDPSSFDUXBZUPEPUIJOHT
    Q
    :PVBSFTUBOEJOHJOBOPQFOGJFMEXFTUPGBIPVTF
    DHBNM>CJPN@ EK@B<GO2C@CJPN@DNRCDO@ RDOC<=J<M?@?AMJIO?JJM 
    5IFSFJTBTNBMMNBJMCPYIFSF
    Q

    4FDPOE IFSFTUIFCBETPMVUJPO*OUIJTJODPSSFDUXBZPGEPJOHUIJOHT UIFBMUFSOBUJWFUFYUJTTJNQMZBEFTDSJQUJPO


    PGUIFJNBHF JOTUFBEPGBUFYUVBMSFQMBDFNFOUGPSUIFJNBHF*UTCBECFDBVTFXIFOUIFJNBHFJTOUTIPXO UIF
    UFYUEPFTOUЙPXBTXFMMBTJOUIFИSTUFYBNQMF

     2CDNDNOC@RMJIBR<TOJ?JOCDIBN 


    Q
    :PVBSFTUBOEJOHJOBOPQFOGJFMEXFTUPGBIPVTF
    JNHTSDIPVTFKQFHBMU"XIJUFIPVTF XJUIBCPBSEFEGSPOUEPPS
    5IFSFJTBTNBMMNBJMCPYIFSF
    Q

    5FYUTVDIBT1IPUPPGXIJUFIPVTFXJUICPBSEFEEPPSXPVMECFFRVBMMZCBEBMUFSOBUJWFUFYU UIPVHIJUDPVMECF
    TVJUBCMFGPSUIF UJUMF Q BUUSJCVUFPSJOUIF GJHDBQUJPO Q FMFNFOUPGB GJHVSF Q XJUIUIJTJNBHF
    

         LAHKMIAK:L>HKE:;>EPBMA:G:EM>KG:MBO>@K:IAB<:EK>IK>L>GM:MBHGB<HGL EH@HL

    "EPDVNFOUDBODPOUBJOJOGPSNBUJPOJOJDPOJDGPSN5IFJDPOJTJOUFOEFEUPIFMQVTFSTPGWJTVBMCSPXTFSTUPSFDPHOJ[F
    GFBUVSFTBUBHMBODF

    *OTPNFDBTFT UIFJDPOJTTVQQMFNFOUBMUPBUFYUMBCFMDPOWFZJOHUIFTBNFNFBOJOH*OUIPTFDBTFT UIF BMU Q


    BUUSJCVUFNVTUCFQSFTFOUCVUNVTUCFFNQUZ

    )FSFUIFJDPOTBSFOFYUUPUFYUUIBUDPOWFZTUIFTBNFNFBOJOH TPUIFZIBWFBOFNQUZ BMU Q BUUSJCVUF

    OBW
    QBISFGIFMQDHBNM>D>JINC@GK KIB<GO )FMQBQ
    QBISFGDPOGJHVSFDHBNM>D>JIN>JIADBPM<ODJI KIB<GO
    $POGJHVSBUJPO5PPMTBQ
    OBW

    *OPUIFSDBTFT UIFJDPOIBTOPUFYUOFYUUPJUEFTDSJCJOHXIBUJUNFBOTUIFJDPOJTTVQQPTFEUPCFTFMGFYQMBOBUPSZ*O
    UIPTFDBTFT BOFRVJWBMFOUUFYUVBMMBCFMNVTUCFHJWFOJOUIF BMU Q BUUSJCVUF

    )FSF QPTUTPOBOFXTTJUFBSFMBCFMFEXJUIBOJDPOJOEJDBUJOHUIFJSUPQJD

    CPEZ
    BSUJDMF
    IFBEFS
    I3BUBUPVJMMFXJOTJ#FTU.PWJFPGUIF:FBSJBXBSEI
    QDHBNM>HJQD@N KIB<GO+JQD@NQ
    IFBEFS
    Q1JYBSIBTXPOZFUBOPUIFSJ#FTU.PWJFPGUIF:FBSJBXBSE
    NBLJOHUIJTJUTUIXJOJOUIFMBTUZFBSTQ
    BSUJDMF
    BSUJDMF
    IFBEFS
    I-BUFTU58J5FQJTPEFJTPOMJOFI
    QDHBNM>KJ?><NON KIB<GO.J?><NONQ
    IFBEFS
    Q5IFMBUFTU58J5FQJTPEFIBTCFFOQPTUFE JOXIJDIXFIFBS
    TFWFSBMUFDIOFXTTUPSJFTBTXFMMBTMFBSOJOHNVDINPSFBCPVUUIF
    J1IPOF5IJTXFFL UIFQBOFMJTUTDPNQBSFIPXSFGMFDUJWFUIFJS
    J1IPOFT"QQMFMPHPTBSFQ

    
    BSUJDMF
    CPEZ

    .BOZQBHFTJODMVEFMPHPT JOTJHOJB ЙBHT PSFNCMFNT XIJDITUBOEGPSBQBSUJDVMBSFOUJUZTVDIBTBDPNQBOZ


    PSHBOJ[BUJPO QSPKFDU CBOE TPGUXBSFQBDLBHF DPVOUSZ PSTPNFTVDI

    *GUIFMPHPJTCFJOHVTFEUPSFQSFTFOUUIFFOUJUZ FHBTBQBHFIFBEJOH UIF BMU Q BUUSJCVUFNVTUDPOUBJOUIFOBNFPG


    UIFFOUJUZCFJOHSFQSFTFOUFECZUIFMPHP5IF BMU Q BUUSJCVUFNVTU =>C DPOUBJOUFYUMJLFUIFXPSEMPHP BTJUJTOPU
    UIFGBDUUIBUJUJTBMPHPUIBUJTCFJOHDPOWFZFE JUTUIFFOUJUZJUTFMG

    *GUIFMPHPJTCFJOHVTFEOFYUUPUIFOBNFPGUIFFOUJUZUIBUJUSFQSFTFOUT UIFOUIFMPHPJTTVQQMFNFOUBM BOEJUT BMU Q


    BUUSJCVUFNVTUJOTUFBECFFNQUZ

    *GUIFMPHPJTNFSFMZVTFEBTEFDPSBUJWFNBUFSJBM BTCSBOEJOH PS GPSFYBNQMF BTBTJEFJNBHFJOBOBSUJDMFUIBU


    NFOUJPOTUIFFOUJUZUPXIJDIUIFMPHPCFMPOHT
    UIFOUIFFOUSZCFMPXPOQVSFMZEFDPSBUJWFJNBHFTBQQMJFT*GUIFMPHPJT
    BDUVBMMZCFJOHEJTDVTTFE UIFOJUJTCFJOHVTFEBTBQISBTFPSQBSBHSBQI UIFEFTDSJQUJPOPGUIFMPHP
    XJUIBO
    BMUFSOBUJWFHSBQIJDBMSFQSFTFOUBUJPO UIFMPHPJUTFMG
    BOEUIFИSTUFOUSZBCPWFBQQMJFT

    *OUIFGPMMPXJOHTOJQQFUT BMMGPVSPGUIFBCPWFDBTFTBSFQSFTFOU'JSTU XFTFFBMPHPVTFEUPSFQSFTFOUB


    DPNQBOZ

    IDHBNM>678 BDA<GO2C@678>JHK<ITI

    /FYU XFTFFBQBSBHSBQIXIJDIVTFTBMPHPSJHIUOFYUUPUIFDPNQBOZOBNF BOETPEPFTOUIBWFBOZ


    BMUFSOBUJWFUFYU

    BSUJDMF
    I/FXTI
    Q8FIBWFSFDFOUMZCFFOMPPLJOHBUCVZJOHUIF DHBNM><GKC< BDA
    <GOVWX>JHK<IT BTNBMM(SFFLDPNQBOZ
    TQFDJBMJ[JOHJOPVSUZQFPGQSPEVDUQ

    *OUIJTUIJSETOJQQFU XFIBWFBMPHPCFJOHVTFEJOBOBTJEF BTQBSUPGUIFMBSHFSBSUJDMFEJTDVTTJOHUIF


    BDRVJTJUJPO

    <ND?@KDHBNM><GKC< G<MB@ BDA<GOK<ND?@


    Q5IFklmDPNQBOZIBTIBEBHPPERVBSUFS BOEPVS
    QJFDIBSUTUVEJFTPGUIFJSBDDPVOUTTVHHFTUBNVDICJHHFSCMVFTMJDF
    UIBOJUTHSFFOBOEPSBOHFTMJDFT XIJDIJTBMXBZTBHPPETJHOQ
    BSUJDMF

    'JOBMMZ XFIBWFBOPQJOJPOQJFDFUBMLJOHBCPVUBMPHP BOEUIFMPHPJTUIFSFGPSFEFTDSJCFEJOEFUBJMJOUIF


    BMUFSOBUJWFUFYU

    Q$POTJEFSGPSBNPNFOUUIFJSMPHPQ

    KDHBNM>DH<B@NGJBJ<GO'O>JINDNONJA<BM@@I>DM>G@RDOC<
    BM@@ILP@NODJIH<MF>@IO@M@?DIND?@DO K

    Q)PXVOPSJHJOBMDBOZPVHFU *NFBO PPPPPI BRVFTUJPONBSL IPX


    FNSFWPMVUJPOBSZFN IPXVUUFSMZFNHSPVOECSFBLJOHFN *N
    TVSFFWFSZPOFXJMMSVTIUPBEPQUUIPTFTQFDJGJDBUJPOTOPX5IFZDPVME
    BUMFBTUIBWFUSJFEGPSTPNFTPSUPG *EPOULOPX TFRVFODFPG
    SPVOEFETRVBSFTXJUIWBSZJOHTIBEFTPGHSFFOBOECPMEXIJUFPVUMJOFT
    BUMFBTUUIBUXPVMEMPPLHPPEPOUIFDPWFSPGBCMVFCPPLQ

    5IJTFYBNQMFTIPXTIPXUIFBMUFSOBUJWFUFYUTIPVMECFXSJUUFOTVDIUIBUJGUIFJNBHFJTOU 0E08;01;4 ?  BOEUIF


    UFYUJTVTFEJOTUFBE UIFUFYUЙPXTTFBNMFTTMZJOUPUIFTVSSPVOEJOHUFYU BTJGUIFJNBHFIBEOFWFSCFFOUIFSFJO
    UIFИSTUQMBDF

         0>QMMA:MA:L;>>GK>G=>K>=MH:@K:IAB<?HKMRIH@K:IAB<:E>Z><M

    4PNFUJNFT BOJNBHFKVTUDPOTJTUTPGUFYU BOEUIFQVSQPTFPGUIFJNBHFJTOPUUPIJHIMJHIUUIFBDUVBMUZQPHSBQIJD


    FЗFDUTVTFEUPSFOEFSUIFUFYU CVUKVTUUPDPOWFZUIFUFYUJUTFMG

    *OTVDIDBTFT UIF BMU Q BUUSJCVUFNVTUCFQSFTFOUCVUNVTUDPOTJTUPGUIFTBNFUFYUBTXSJUUFOJOUIFJNBHFJUTFMG

    
    $POTJEFSBHSBQIJDDPOUBJOJOHUIFUFYU&BSUI%BZ CVUXJUIUIFMFUUFSTBMMEFDPSBUFEXJUIЙPXFSTBOEQMBOUT*G
    UIFUFYUJTNFSFMZCFJOHVTFEBTBIFBEJOH UPTQJDFVQUIFQBHFGPSHSBQIJDBMVTFST UIFOUIFDPSSFDUBMUFSOBUJWF
    UFYUJTKVTUUIFTBNFUFYU&BSUI%BZ BOEOPNFOUJPOOFFECFNBEFPGUIFEFDPSBUJPOT

    IDHBNM>@<MOC?<TC@<?DIB KIB<GO#<MOC"<TI

         @K:IAB<:EK>IK>L>GM:MBHGH?LHF>H?MA>LNKKHNG=BG@M>QM

    *ONBOZDBTFT UIFJNBHFJTBDUVBMMZKVTUTVQQMFNFOUBSZ BOEJUTQSFTFODFNFSFMZSFJOGPSDFTUIFTVSSPVOEJOHUFYU*O


    UIFTFDBTFT UIF BMU Q BUUSJCVUFNVTUCFQSFTFOUCVUJUTWBMVFNVTUCFUIFFNQUZTUSJOH

    *OHFOFSBM BOJNBHFGBMMTJOUPUIJTDBUFHPSZJGSFNPWJOHUIFJNBHFEPFTOUNBLFUIFQBHFBOZMFTTVTFGVM CVU


    JODMVEJOHUIFJNBHFNBLFTJUBMPUFBTJFSGPSVTFSTPGWJTVBMCSPXTFSTUPVOEFSTUBOEUIFDPODFQU

    "ЙPXDIBSUUIBUSFQFBUTUIFQSFWJPVTQBSBHSBQIJOHSBQIJDBMGPSN

    Q5IFOFUXPSLQBTTFTEBUBUPUIF5PLFOJ[FSTUBHF XIJDI
    QBTTFTEBUBUPUIF5SFF$POTUSVDUJPOTUBHF'SPNUIFSF EBUBHPFT
    UPCPUIUIF%0.BOEUP4DSJQU&YFDVUJPO4DSJQU&YFDVUJPOJT
    MJOLFEUPUIF%0. BOE VTJOHEPDVNFOUXSJUF
    QBTTFTEBUBUP
    UIF5PLFOJ[FSQ
    KDHBNM>DH<B@NK<MNDIB HJ?@G JQ@MQD@R KIB<GOK

    *OUIFTFDBTFT JUXPVMECFXSPOHUPJODMVEFBMUFSOBUJWFUFYUUIBUDPOTJTUTPGKVTUBDBQUJPO*GBDBQUJPOJTUPCF
    JODMVEFE UIFOFJUIFSUIF UJUMF Q BUUSJCVUFDBOCFVTFE PSUIF GJHVSF Q BOE GJHDBQUJPO Q FMFNFOUTDBOCF
    VTFE*OUIFMBUUFSDBTF UIFJNBHFXPVMEJOGBDUCFBQISBTFPSQBSBHSBQIXJUIBOBMUFSOBUJWFHSBQIJDBM
    SFQSFTFOUBUJPO BOEXPVMEUIVTSFRVJSFBMUFSOBUJWFUFYU

    6TJOHUIFUJUMFBUUSJCVUF
    Q5IFOFUXPSLQBTTFTEBUBUPUIF5PLFOJ[FSTUBHF XIJDI
    QBTTFTEBUBUPUIF5SFF$POTUSVDUJPOTUBHF'SPNUIFSF EBUBHPFT
    UPCPUIUIF%0.BOEUP4DSJQU&YFDVUJPO4DSJQU&YFDVUJPOJT
    MJOLFEUPUIF%0. BOE VTJOHEPDVNFOUXSJUF
    QBTTFTEBUBUP
    UIF5PLFOJ[FSQ
    QDHBNM>DH<B@NK<MNDIB HJ?@G JQ@MQD@R KIB<GO
    ODOG@$GJR>C<MOM@KM@N@IO<ODJIJAOC@K<MNDIBHJ?@G Q
    6TJOHGJHVSFBOEGJHDBQUJPO
    Q5IFOFUXPSLQBTTFTEBUBUPUIF5PLFOJ[FSTUBHF XIJDI
    QBTTFTEBUBUPUIF5SFF$POTUSVDUJPOTUBHF'SPNUIFSF EBUBHPFT
    UPCPUIUIF%0.BOEUP4DSJQU&YFDVUJPO4DSJQU&YFDVUJPOJT
    MJOLFEUPUIF%0. BOE VTJOHEPDVNFOUXSJUF
    QBTTFTEBUBUP
    UIF5PLFOJ[FSQ
    GJHVSF
    DHBNM>DH<B@NK<MNDIB HJ?@G JQ@MQD@R KIB<GO2C@,@ORJMFG@<?N
    OJOC@2JF@IDU@M RCD>CG@<?NOJOC@2M@@!JINOMP>ODJI 2C@2M@@
    !JINOMP>ODJIG@<?NOJORJDO@HN 2C@ADMNODN1>MDKO#S@>PODJI RCD>C
    G@<?NQD<?J>PH@IO RMDO@=<>FOJOC@2JF@IDU@M 2C@N@>JI?DO@H
    AMJHRCD>C2M@@!JINOMP>ODJIG@<?NDNOC@"-+ 2C@"-+DNM@G<O@?OJ
    OC@1>MDKO#S@>PODJI 
    GJHDBQUJPO'MPXDIBSUSFQSFTFOUBUJPOPGUIFQBSTJOHNPEFMGJHDBQUJPO
    GJHVSF
    5IJTJT830/(%POPUEPUIJT*OTUFBE EPXIBUUIFBCPWFFYBNQMFTEP
    Q5IFOFUXPSLQBTTFTEBUBUPUIF5PLFOJ[FSTUBHF XIJDI
    QBTTFTEBUBUPUIF5SFF$POTUSVDUJPOTUBHF'SPNUIFSF EBUBHPFT
    UPCPUIUIF%0.BOEUP4DSJQU&YFDVUJPO4DSJQU&YFDVUJPOJT
    MJOLFEUPUIF%0. BOE VTJOHEPDVNFOUXSJUF
    QBTTFTEBUBUP
    UIF5PLFOJ[FSQ
    QJNHTSDJNBHFTQBSTJOHNPEFMPWFSWJFXQOH
    BMU'MPXDIBSUSFQSFTFOUBUJPOPGUIFQBSTJOHNPEFMQ
    /FWFSQVUUIFJNBHFTDBQUJPOJOUIFBMUBUUSJCVUF

    "HSBQIUIBUSFQFBUTUIFQSFWJPVTQBSBHSBQIJOHSBQIJDBMGPSN

    Q"DDPSEJOHUPBTUVEZDPWFSJOHTFWFSBMCJMMJPOQBHFT
    BCPVUPGEPDVNFOUTPOUIF8FCJOUSJHHFSFEUIF2VJSLT
    SFOEFSJOHNPEFPG8FCCSPXTFST BCPVUUSJHHFSFEUIF"MNPTU
    4UBOEBSETNPEF BOEBCPVUUSJHHFSFEUIF4UBOEBSETNPEFQ
    KDHBNM>M@I?@MDIB HJ?@ KD@ >C<MO KIB<GOK

    
         INK>ER=><HK:MBO>BF:@>MA:M=H>LGM:==:GRBG?HKF:MBHG

    *OHFOFSBM JGBOJNBHFJTEFDPSBUJWFCVUJTOUFTQFDJBMMZQBHFTQFDJИD GPSFYBNQMFBOJNBHFUIBUGPSNTQBSUPGBTJUF


    XJEFEFTJHOTDIFNF UIFJNBHFTIPVMECFTQFDJИFEJOUIFTJUFT$44 OPUJOUIFNBSLVQPGUIFEPDVNFOU

    )PXFWFS BEFDPSBUJWFJNBHFUIBUJTOUEJTDVTTFECZUIFTVSSPVOEJOHUFYUCVUTUJMMIBTTPNFSFMFWBODFDBOCFJODMVEFE
    JOBQBHFVTJOHUIF JNH Q FMFNFOU4VDIJNBHFTBSFEFDPSBUJWF CVUTUJMMGPSNQBSUPGUIFDPOUFOU*OUIFTFDBTFT UIF
    BMU Q BUUSJCVUFNVTUCFQSFTFOUCVUJUTWBMVFNVTUCFUIFFNQUZTUSJOH

    &YBNQMFTXIFSFUIFJNBHFJTQVSFMZEFDPSBUJWFEFTQJUFCFJOHSFMFWBOUXPVMEJODMVEFUIJOHTMJLFBQIPUPPGUIF
    #MBDL3PDL$JUZMBOETDBQFJOBCMPHQPTUBCPVUBOFWFOUBU#VSOJOH.BO PSBOJNBHFPGBQBJOUJOHJOTQJSFECZB
    QPFN POBQBHFSFDJUJOHUIBUQPFN5IFGPMMPXJOHTOJQQFUTIPXTBOFYBNQMFPGUIFMBUUFSDBTF POMZUIFИSTU
    WFSTFJTJODMVEFEJOUIJTTOJQQFU
    

    I5IF-BEZPG4IBMPUUI
    KDHBNM>NC<GJOO EK@B<GOK
    Q0OFJUIFSTJEFUIFSJWFSMJFCS
    -POHGJFMETPGCBSMFZBOEPGSZF CS
    5IBUDMPUIFUIFXPMEBOENFFUUIFTLZCS
    "OEUISPVHIUIFGJFMEUIFSPBESVOCZCS
    5PNBOZUPXFSE$BNFMPUCS
    "OEVQBOEEPXOUIFQFPQMFHP CS
    (B[JOHXIFSFUIFMJMJFTCMPXCS
    3PVOEBOJTMBOEUIFSFCFMPX CS
    5IFJTMBOEPG4IBMPUUQ

         @KHNIH?BF:@>LMA:M?HKF:LBG@E>E:K@>KIB<MNK>PBMAGHEBGDL

    8IFOBQJDUVSFIBTCFFOTMJDFEJOUPTNBMMFSJNBHFИMFTUIBUBSFUIFOEJTQMBZFEUPHFUIFSUPGPSNUIFDPNQMFUFQJDUVSF
    BHBJO POFPGUIFJNBHFTNVTUIBWFJUT BMU Q BUUSJCVUFTFUBTQFSUIFSFMFWBOUSVMFTUIBUXPVMECFBQQSPQSJBUFGPSUIF
    QJDUVSFBTBXIPMF BOEUIFOBMMUIFSFNBJOJOHJNBHFTNVTUIBWFUIFJS BMU Q BUUSJCVUFTFUUPUIFFNQUZTUSJOH

    *OUIFGPMMPXJOHFYBNQMF BQJDUVSFSFQSFTFOUJOHBDPNQBOZMPHPGPS 9:;$PSQ IBTCFFOTQMJUJOUPUXPQJFDFT UIF


    ИSTUDPOUBJOJOHUIFMFUUFST9:;BOEUIFTFDPOEXJUIUIFXPSE$PSQ5IFBMUFSOBUJWFUFYU 9:;$PSQ
    JTBMMJO
    UIFИSTUJNBHF

    IDHBNM>GJBJ KIB<GO678!JMKDHBNM>GJBJ KIB<GOI

    *OUIFGPMMPXJOHFYBNQMF BSBUJOHJTTIPXOBTUISFFИMMFETUBSTBOEUXPFNQUZTUBST8IJMFUIFBMUFSOBUJWFUFYU
    DPVMEIBWFCFFOθθθιι UIFBVUIPSIBTJOTUFBEEFDJEFEUPNPSFIFMQGVMMZHJWFUIFSBUJOHJOUIFGPSNPVU
    PG5IBUJTUIFBMUFSOBUJWFUFYUPGUIFИSTUJNBHF BOEUIFSFTUIBWFCMBOLBMUFSOBUJWFUFYU

    Q3BUJOHNFUFSNBYWBMVFDHBNM><GOJPOJA
    DHBNM><GODHBNM><GODHBNM><GO
    DHBNM><GONFUFSQ

         @KHNIH?BF:@>LMA:M?HKF:LBG@E>E:K@>KIB<MNK>PBMAEBGDL

    (FOFSBMMZ JNBHFNBQT Q TIPVMECFVTFEJOTUFBEPGTMJDJOHBOJNBHFGPSMJOLT

    )PXFWFS JGBOJNBHFJTJOEFFETMJDFEBOEBOZPGUIFDPNQPOFOUTPGUIFTMJDFEQJDUVSFBSFUIFTPMFDPOUFOUTPGMJOLT
    UIFOPOFJNBHFQFSMJOLNVTUIBWFBMUFSOBUJWFUFYUJOJUT BMU Q BUUSJCVUFSFQSFTFOUJOHUIFQVSQPTFPGUIFMJOL

    *OUIFGPMMPXJOHFYBNQMF BQJDUVSFSFQSFTFOUJOHUIFЙZJOHTQBHIFUUJNPOTUFSFNCMFN XJUIFBDIPGUIFMFGU


    OPPEMZBQQFOEBHFTBOEUIFSJHIUOPPEMZBQQFOEBHFTJOEJЗFSFOUJNBHFT TPUIBUUIFVTFSDBOQJDLUIFMFGUTJEF
    PSUIFSJHIUTJEFJOBOBEWFOUVSF

    I5IF$IVSDII
    Q:PVDPNFBDSPTTBGMZJOHTQBHIFUUJNPOTUFS8IJDITJEFPG)JT
    /PPEMJOFTTEPZPVXJTIUPSFBDIPVUGPS Q
    K<CM@ABJG@AODHBNM>ANH G@AO KIB<GO*@AOND?@ <
    DHBNM>ANH HD??G@ KIB<GO
    <CM@ABJMDBCODHBNM>ANH MDBCO KIB<GO0DBCOND?@ <K

    
         D>RI:KMH?MA><HGM>GM

    *OTPNFDBTFT UIFJNBHFJTBDSJUJDBMQBSUPGUIFDPOUFOU5IJTDPVMECFUIFDBTF GPSJOTUBODF POBQBHFUIBUJTQBSUPG


    BQIPUPHBMMFSZ5IFJNBHFJTUIFXIPMF ?>8=C PGUIFQBHFDPOUBJOJOHJU

    )PXUPQSPWJEFBMUFSOBUJWFUFYUGPSBOJNBHFUIBUJTBLFZQBSUPGUIFDPOUFOUEFQFOETPOUIFJNBHFTQSPWFOBODF

    0B?A?H?L;F=;M?
    8IFOJUJTQPTTJCMFGPSEFUBJMFEBMUFSOBUJWFUFYUUPCFQSPWJEFE GPSFYBNQMFJGUIFJNBHFJTQBSUPGBTFSJFTPG
    TDSFFOTIPUTJOBNBHB[JOFSFWJFX PSQBSUPGBDPNJDTUSJQ PSJTBQIPUPHSBQIJOBCMPHFOUSZBCPVUUIBU
    QIPUPHSBQI UFYUUIBUDBOTFSWFBTBTVCTUJUVUFGPSUIFJNBHFNVTUCFHJWFOBTUIFDPOUFOUTPGUIF BMU Q
    BUUSJCVUF

    "TDSFFOTIPUJOBHBMMFSZPGTDSFFOTIPUTGPSBOFX04 XJUITPNFBMUFSOBUJWFUFYU

    GJHVSF
    DHBNM>)"#*DBCO?@NFOJK KIB
    <GO2C@?@NFOJKDN=GP@ RDOCD>JIN<GJIBOC@G@AOC<I?ND?@DI
    ORJ>JGPHIN M@<?DIB1TNO@H &JH@ ) +<DG @O> RDI?JRDN
    JK@INCJRDIBOC<OH@IPNRM<KOJ<N@>JI?GDI@DAOC@T
    ><IIJOADODIOC@RDI?JR 2C@RDI?JRC<N<GDNOJAD>JIN
    <GJIBOC@OJK RDOC<I<??M@NN=<M=@GJRDO <GDNOJA
    D>JINAJMO<=N<GJIBOC@G@AO@?B@ <NO<OPN=<MJIOC@
    =JOOJH <I?ORJK<I@NDIOC@HD??G@ 2C@?@NFOJKC<N<=<M
    <OOC@=JOOJHJAOC@N>M@@IRDOC<A@R=POOJIN <K<B@M <
    GDNOJAJK@I<KKGD><ODJIN <I?<>GJ>F 
    GJHDBQUJPO4DSFFOTIPUPGB,%&EFTLUPQGJHDBQUJPO
    GJHVSF
    "HSBQIJOBИOBODJBMSFQPSU

    DHBNM>N<G@N BDA
    ODOG@1<G@NBM<KC
    <GO$MJHOJ N<G@NDI>M@<N@?=TOC@AJGGJRDIBK@M>@IO<B@N
    RDOC@<>CT@<M      
    /PUFUIBUTBMFTHSBQIXPVMECFJOBEFRVBUFBMUFSOBUJWFUFYUGPSBTBMFTHSBQI5FYUUIBUXPVMECFBHPPE
    20?C8>= JTOPUHFOFSBMMZTVJUBCMFBTSFQMBDFNFOUUFYU

    %G;A?MNB;N>?@S;=IGJF?N?>?M=LCJNCIH
    *ODFSUBJODBTFT UIFOBUVSFPGUIFJNBHFNJHIUCFTVDIUIBUQSPWJEJOHUIPSPVHIBMUFSOBUJWFUFYUJTJNQSBDUJDBM
    'PSFYBNQMF UIFJNBHFDPVMECFJOEJTUJODU PSDPVMECFBDPNQMFYGSBDUBM PSDPVMECFBEFUBJMFEUPQPHSBQIJDBM
    NBQ

    *OUIFTFDBTFT UIF BMU Q BUUSJCVUFNVTUDPOUBJOTPNFTVJUBCMFBMUFSOBUJWFUFYU CVUJUNBZCFTPNFXIBUCSJFG

    4PNFUJNFTUIFSFTJNQMZJTOPUFYUUIBUDBOEPKVTUJDFUPBOJNBHF'PSFYBNQMF UIFSFJTMJUUMFUIBUDBOCF
    TBJEUPVTFGVMMZEFTDSJCFB3PSTDIBDIJOLCMPUUFTU)PXFWFS BEFTDSJQUJPO FWFOJGCSJFG JTTUJMMCFUUFSUIBO
    OPUIJOH

    GJHVSF
    DHBNM>>JHHJIN<<0JMN>C<>C EKB<GONC<K@RDOCG@AO MDBCO
    NTHH@OMTRDOCDI?DNODI>O@?B@N RDOC<NH<GGB<KDIOC@>@IO@M ORJ
    G<MB@MB<KNJAAN@ONGDBCOGTAMJHOC@>@IO@M RDOCORJNDHDG<MB<KN
    PI?@MOC@H 2C@JPOGDI@DNRD?@MDIOC@OJKC<GAOC<IOC@=JOOJH
    C<GA RDOCOC@ND?@N@SO@I?DIBPKR<M?NCDBC@MOC<IOC@>@IO@M <I?
    OC@>@IO@M@SO@I?DIB=@GJROC@ND?@N 
    GJHDBQUJPO"CMBDLPVUMJOFPGUIFGJSTUPGUIFUFODBSET
    JOUIF3PSTDIBDIJOLCMPUUFTUGJHDBQUJPO
    GJHVSF
    /PUFUIBUUIFGPMMPXJOHXPVMECFBWFSZCBEVTFPGBMUFSOBUJWFUFYU

    5IJTFYBNQMFJTXSPOH%POPUDPQZJU
    GJHVSF
    JNHTSDDPNNPOTBB3PSTDIBDIKQHBMU"CMBDLPVUMJOF
    PGUIFGJSTUPGUIFUFODBSETJOUIF3PSTDIBDIJOLCMPUUFTU
    GJHDBQUJPO"CMBDLPVUMJOFPGUIFGJSTUPGUIFUFODBSET
    JOUIF3PSTDIBDIJOLCMPUUFTUGJHDBQUJPO
    GJHVSF

    
    *ODMVEJOHUIFDBQUJPOJOUIFBMUFSOBUJWFUFYUMJLFUIJTJTOUVTFGVMCFDBVTFJUFЗFDUJWFMZEVQMJDBUFTUIF
    DBQUJPOGPSVTFSTXIPEPOUIBWFJNBHFT UBVOUJOHUIFNUXJDFZFUOPUIFMQJOHUIFNBOZNPSFUIBOJGUIFZ
    IBEPOMZSFBEPSIFBSEUIFDBQUJPOPODF

    "OPUIFSFYBNQMFPGBOJNBHFUIBUEFИFTGVMMEFTDSJQUJPOJTBGSBDUBM XIJDI CZEFИOJUJPO JTJOИOJUFJO


    EFUBJM

    5IFGPMMPXJOHFYBNQMFTIPXTPOFQPTTJCMFXBZPGQSPWJEJOHBMUFSOBUJWFUFYUGPSUIFGVMMWJFXPGBOJNBHFPG
    UIF.BOEFMCSPUTFU

    DHBNM>HN EK@B<GO2C@+<I?@G=MJON@O<KK@<MN<N<><M?DJD?RDOC
    DON>PNKJIOC@M@<G<SDNDIOC@KJNDODQ@?DM@>ODJI RDOC<NH<GG@M
    =PG=<GDBI@?<GJIBOC@N<H@>@IO@MGDI@ OJP>CDIBDODIOC@I@B<ODQ@
    ?DM@>ODJI <I?RDOCOC@N@ORJNC<K@N=@DIBNPMMJPI?@?=TNH<GG@M=PG=N
    JAQ<MDJPNNDU@N 

    %G;A?MQBIM?=IHN?HNM;L?HINEHIQH
    *OTPNFVOGPSUVOBUFDBTFT UIFSFNJHIUCFOPBMUFSOBUJWFUFYUBWBJMBCMFBUBMM FJUIFSCFDBVTFUIFJNBHFJT
    PCUBJOFEJOTPNFBVUPNBUFEGBTIJPOXJUIPVUBOZBTTPDJBUFEBMUFSOBUJWFUFYU FHB8FCDBN
    PSCFDBVTFUIF
    QBHFJTCFJOHHFOFSBUFECZBTDSJQUVTJOHVTFSQSPWJEFEJNBHFTXIFSFUIFVTFSEJEOPUQSPWJEFTVJUBCMFPSVTBCMF
    BMUFSOBUJWFUFYU FHQIPUPHSBQITIBSJOHTJUFT
    PSCFDBVTFUIFBVUIPSEPFTOPUIJNTFMGLOPXXIBUUIFJNBHFT
    SFQSFTFOU FHBCMJOEQIPUPHSBQIFSTIBSJOHBOJNBHFPOIJTCMPH
    

    *OTVDIDBTFT UIF BMU Q BUUSJCVUFTWBMVFNBZCFPNJUUFE CVUPOFPGUIFGPMMPXJOHDPOEJUJPOTNVTUCFNFUBT


    XFMM

    Ǭ 5IF UJUMF Q BUUSJCVUFJTQSFTFOUBOEIBTBOPOFNQUZWBMVF

    Ǭ 5IF JNH Q FMFNFOUJTJOB GJHVSF Q FMFNFOUUIBUDPOUBJOTB GJHDBQUJPO Q FMFNFOUUIBUDPOUBJOT
    DPOUFOUPUIFSUIBO JOUFSFMFNFOUXIJUFTQBDF Q 

    Ǭ 5IF JNH Q FMFNFOUJTQBSUPGUIFPOMZ QBSBHSBQI Q EJSFDUMZJOJUT TFDUJPO Q BOEJTUIFPOMZ JNH Q
    FMFNFOUXJUIPVUBO BMU Q BUUSJCVUFJOJUTTFDUJPO BOEJUT TFDUJPO Q IBTBOBTTPDJBUFEIFBEJOH

    *HM> /N<A<:L>L:K>MH;>D>IMMH:G:;LHENM>FBGBFNF %?MA>K>BL>O>GMA>LEB@AM>LM


    IHLLB;BEBMRH?MA>:NMAHKA:OBG@MA>:;BEBMRMHIKHOB=>K>:E:EM>KG:MBO>M>QM MA>GBMPHNE=GHM
    ;>:<<>IM:;E>MHHFBMMA> :EM I :MMKB;NM>

    "QIPUPPOBQIPUPTIBSJOHTJUF JGUIFTJUFSFDFJWFEUIFJNBHFXJUIOPNFUBEBUBPUIFSUIBOUIFDBQUJPO

    GJHVSF
    DHBNM>;<><@A EKB
    GJHDBQUJPO#VCCMFTUSBWFMFEFWFSZXIFSFXJUIVTGJHDBQUJPO
    GJHVSF
    *UDPVMEBMTPCFNBSLFEVQMJLFUIJT

    BSUJDMF
    I#VCCMFTUSBWFMFEFWFSZXIFSFXJUIVTI
    DHBNM>;<><@A EKB
    BSUJDMF
    *OFJUIFSDBTF UIPVHI JUXPVMECFCFUUFSJGBEFUBJMFEEFTDSJQUJPOPGUIFJNQPSUBOUQBSUTPGUIFJNBHF
    PCUBJOFEGSPNUIFVTFSBOEJODMVEFEPOUIFQBHF

    "CMJOEVTFSTCMPHJOXIJDIBQIPUPUBLFOCZUIFVTFSJTTIPXO*OJUJBMMZ UIFVTFSNJHIUOPUIBWFBOZJEFB
    XIBUUIFQIPUPIFUPPLTIPXT

    BSUJDMF
    I*UPPLBQIPUPI
    Q*XFOUPVUUPEBZBOEUPPLBQIPUPQ
    GJHVSF
    DHBNM>KCJOJ EK@B
    GJHDBQUJPO"QIPUPHSBQIUBLFOCMJOEMZGSPNNZGSPOUQPSDIGJHDBQUJPO
    GJHVSF
    BSUJDMF
    &WFOUVBMMZUIPVHI UIFVTFSNJHIUPCUBJOBEFTDSJQUJPOPGUIFJNBHFGSPNIJTGSJFOETBOEDPVMEUIFO
    JODMVEFBMUFSOBUJWFUFYU

    BSUJDMF
    I*UPPLBQIPUPI

    
    Q*XFOUPVUUPEBZBOEUPPLBQIPUPQ
    GJHVSF
    DHBNM>KCJOJ EK@B<GO2C@KCJOJBM<KCNCJRNHTCPHHDIB=DM?
    A@@?@MC<IBDIBAMJHOC@@?B@JAHTMJJA 'ODNC<GAAPGG =POOC@M@
    <M@IJ=DM?N<MJPI? 'IOC@=<>FBMJPI? JPO JA AJ>PNOM@@NADGGOC@
    NCJO 2C@A@@?@MDNH<?@JARJJ?RDOC<H@O<GBM<O@ <I?DO>JIO<DIN
    K@<IPON 2C@@?B@JAOC@MJJADNRJJ?@IOJJ <I?DNK<DIO@?RCDO@
    RDOCGDBCO=GP@NOM@<FN 
    GJHDBQUJPO"QIPUPHSBQIUBLFOCMJOEMZGSPNNZGSPOUQPSDIGJHDBQUJPO
    GJHVSF
    BSUJDMF
    4PNFUJNFTUIFFOUJSFQPJOUPGUIFJNBHFJTUIBUBUFYUVBMEFTDSJQUJPOJTOPUBWBJMBCMF BOEUIFVTFSJTUP
    QSPWJEFUIFEFTDSJQUJPO'PSJOTUBODF UIFQPJOUPGB$"15$)"JNBHFJTUPTFFJGUIFVTFSDBOMJUFSBMMZSFBE
    UIFHSBQIJD)FSFJTPOFXBZUPNBSLVQB$"15$)" OPUFUIF UJUMF Q BUUSJCVUF
    

    QMBCFM8IBUEPFTUIJTJNBHFTBZ
    DHBNM>><KO>C< >BDD?ODOG@!.2!&
    JOQVUUZQFUFYUOBNFDBQUDIBMBCFM
    *GZPVDBOOPUTFFUIFJNBHF ZPVDBOVTFBOB
    ISFG BVEJPBVEJPBUFTUJOTUFBE
    Q
    "OPUIFSFYBNQMFXPVMECFTPGUXBSFUIBUEJTQMBZTJNBHFTBOEBTLTGPSBMUFSOBUJWFUFYUQSFDJTFMZGPSUIF
    QVSQPTFPGUIFOXSJUJOHBQBHFXJUIDPSSFDUBMUFSOBUJWFUFYU4VDIBQBHFDPVMEIBWFBUBCMFPGJNBHFT MJLF
    UIJT

    UBCMF
    UIFBE
    USUI*NBHFUI%FTDSJQUJPO
    UCPEZ
    US
    UE DHBNM> KIBODOG@'H<B@=T ADG@I<H@=<II@M BDA
    UEJOQVUOBNFBMU
    US
    UE DHBNM> KIBODOG@'H<B@=T ADG@I<H@<? BDA
    UEJOQVUOBNFBMU
    UBCMF
    /PUJDFUIBUFWFOJOUIJTFYBNQMF BTNVDIVTFGVMJOGPSNBUJPOBTQPTTJCMFJTTUJMMJODMVEFEJOUIF UJUMF Q
    BUUSJCVUF

    *HM> /BG<>LHF>NL>KL<:GGHMNL>BF:@>L:M:EE> @ ;><:NL>MA>RA:O>:O>KRLEHP


    <HGG><MBHG HK;><:NL>MA>R:K>NLBG@:M>QM
    HGER;KHPL>K HK;><:NL>MA>R:K>EBLM>GBG@MH
    MA>I:@>;>BG@K>:=HNM;R:A:G=L
    ?K>>:NMHFH;BE>OHB<>3>;;KHPL>K HKLBFIER;><:NL>
    MA>R:K>;EBG= MA> :EM I :MMKB;NM>BLHGER:EEHP>=MH;>HFBMM>=K:MA>KMA:G;>BG@IKHOB=>=
    PBMAK>IE:<>F>GMM>QMPA>GGH:EM>KG:MBO>M>QMBL:O:BE:;E>:G=GHG><:G;>F:=>:O:BE:;E>
    :LBGMA>:;HO>>Q:FIE>L (:<DH?>ZHKM?KHFMA>I:KMH?MA>:NMAHKBLGHM:G:<<>IM:;E>
    K>:LHG?HKHFBMMBG@MA> :EM I :MMKB;NM>

         GBF:@>GHMBGM>G=>=?HKMA>NL>K

    (FOFSBMMZBVUIPSTTIPVMEBWPJEVTJOH JNH Q FMFNFOUTGPSQVSQPTFTPUIFSUIBOTIPXJOHJNBHFT

    *GBO JNH Q FMFNFOUJTCFJOHVTFEGPSQVSQPTFTPUIFSUIBOTIPXJOHBOJNBHF FHBTQBSUPGBTFSWJDFUPDPVOUQBHF


    WJFXT UIFOUIF BMU Q BUUSJCVUFNVTUCFUIFFNQUZTUSJOH

    *OTVDIDBTFT UIF XJEUI Q BOE IFJHIU Q BUUSJCVUFTTIPVMECPUICFTFUUP[FSP

         GBF:@>BG:G>
    F:BEHKIKBO:M>=H<NF>GMBGM>G=>=?HK:LI><B[<I>KLHGPAHBLDGHPGMH;>
    :;E>MHOB>PBF:@>L

    *78BB42C8>=3>4B=>C0??;HC>3>2D<4=CBC70C0A4?D1;82;H0224BB81;4>AF7>B4C0A64C0D384=248B=>C=424BB0A8;H
    ?4AB>=0;;H:=>F=C>C740DC7>ABD270B3>2D<4=CB>=0-41B8C44<08;BB4=CC>?D1;82<08;8=6;8BCB>AB>5CF0A4
    3>2D<4=C0C8>=

    8IFOBOJNBHFJTJODMVEFEJOBQSJWBUFDPNNVOJDBUJPO TVDIBTBO)5.-FNBJM
    BJNFEBUBTQFDJИDQFSTPOXIPJT
    LOPXOUPCFBCMFUPWJFXJNBHFT UIF BMU Q BUUSJCVUFNBZCFPNJUUFE)PXFWFS FWFOJOTVDIDBTFTJUJTTUSPOHMZ
    SFDPNNFOEFEUIBUBMUFSOBUJWFUFYUCFJODMVEFE BTBQQSPQSJBUFBDDPSEJOHUPUIFLJOEPGJNBHFJOWPMWFE BTEFTDSJCFE

    
    JOUIFBCPWFFOUSJFT
    TPUIBUUIFFNBJMJTTUJMMVTBCMFTIPVMEUIFVTFSVTFBNBJMDMJFOUUIBUEPFTOPUTVQQPSUJNBHFT
    PSTIPVMEUIFEPDVNFOUCFGPSXBSEFEPOUPPUIFSVTFSTXIPTFBCJMJUJFTNJHIUOPUJODMVEFFBTJMZTFFJOHJNBHFT

         #>G>K:E@NB=>EBG>L

    5IFNPTUHFOFSBMSVMFUPDPOTJEFSXIFOXSJUJOHBMUFSOBUJWFUFYUJTUIFGPMMPXJOH NB?CHN?HNCMNB;NL?JF;=CHA?P?LS
    CG;A?QCNBNB?N?RNI@CNM <GO K ;NNLC<ON?HIN=B;HA?NB?G?;HCHAI@NB?J;A?

    4P JOHFOFSBM BMUFSOBUJWFUFYUDBOCFXSJUUFOCZDPOTJEFSJOHXIBUPOFXPVMEIBWFXSJUUFOIBEPOFOPUCFFOBCMFUP
    JODMVEFUIFJNBHF

    "DPSPMMBSZUPUIJTJTUIBUUIF BMU Q BUUSJCVUFTWBMVFTIPVMEOFWFSDPOUBJOUFYUUIBUDPVMECFDPOTJEFSFEUIFJNBHFT


    20?C8>= C8C;4 PS ;464=3*UJTTVQQPTFEUPDPOUBJOSFQMBDFNFOUUFYUUIBUDPVMECFVTFECZVTFST 8=BC403 PGUIFJNBHFJU
    JTOPUNFBOUUPTVQQMFNFOUUIFJNBHF5IF UJUMF Q BUUSJCVUFDBOCFVTFEGPSTVQQMFNFOUBMJOGPSNBUJPO

    *HM> +G>P:RMHMABGDH?:EM>KG:MBO>M>QMBLMHMABGD:;HNMAHPRHNPHNE=K>:=MA>I:@>
    <HGM:BGBG@MA>BF:@>MHLHF>HG>HO>KMA>IAHG> PBMAHNMF>GMBHGBG@MA:MMA>K>BL:GBF:@>
    IK>L>GM 3A:M>O>KRHNL:RBGLM>:=H?MA>BF:@>BLMRIB<:EER:@HH=LM:KM?HKPKBMBG@MA>
    :EM>KG:MBO>M>QM

         #NB=:G<>?HKF:KDNI@>G>K:MHKL

    .BSLVQHFOFSBUPST TVDIBT8:4*8:(BVUIPSJOHUPPMT
    TIPVME XIFSFWFSQPTTJCMF PCUBJOBMUFSOBUJWFUFYUGSPNUIFJS
    VTFST)PXFWFS JUJTSFDPHOJ[FEUIBUJONBOZDBTFT UIJTXJMMOPUCFQPTTJCMF

    'PSJNBHFTUIBUBSFUIFTPMFDPOUFOUTPGMJOLT NBSLVQHFOFSBUPSTTIPVMEFYBNJOFUIFMJOLUBSHFUUPEFUFSNJOFUIFUJUMF
    PGUIFUBSHFU PSUIF63-PGUIFUBSHFU BOEVTFJOGPSNBUJPOPCUBJOFEJOUIJTNBOOFSBTUIFBMUFSOBUJWFUFYU

    "TBMBTUSFTPSU JNQMFNFOUPSTTIPVMEFJUIFSTFUUIF BMU Q BUUSJCVUFUPUIFFNQUZTUSJOH VOEFSUIFBTTVNQUJPOUIBU


    UIFJNBHFJTBQVSFMZEFDPSBUJWFJNBHFUIBUEPFTOUBEEBOZJOGPSNBUJPOCVUJTTUJMMTQFDJИDUPUIFTVSSPVOEJOHDPOUFOU
    PSPNJUUIF BMU Q BUUSJCVUFBMUPHFUIFS VOEFSUIFBTTVNQUJPOUIBUUIFJNBHFJTBLFZQBSUPGUIFDPOUFOU

    .BSLVQHFOFSBUPSTTIPVMEHFOFSBMMZBWPJEVTJOHUIFJNBHFTPXOИMFOBNFBTUIFBMUFSOBUJWFUFYU4JNJMBSMZ NBSLVQ
    HFOFSBUPSTTIPVMEBWPJEHFOFSBUJOHBMUFSOBUJWFUFYUGSPNBOZDPOUFOUUIBUXJMMCFFRVBMMZBWBJMBCMFUPQSFTFOUBUJPO
    VTFSBHFOUT FH8FCCSPXTFST
    

    *HM> 0ABLBL;><:NL>HG<>:I:@>BL@>G>K:M>= BMPBEEMRIB<:EERGHM;>NI=:M>= PA>K>:LMA>


    ;KHPL>KLMA:ME:M>KK>:=MA>I:@><:G;>NI=:M>=;RMA>NL>K MA>K>?HK>MA>;KHPL>KBLEBD>ERMH
    A:O>FHK>NI
    MH
    =:M>:G=[G>ER
    MNG>=A>NKBLMB<LMA:GMA>F:KDNI@>G>K:MHK=B=PA>G@>G>K:MBG@
    MA>I:@>

         #NB=:G<>?HK<HG?HKF:G<><A><D>KL

    "DPOGPSNBODFDIFDLFSNVTUSFQPSUUIFMBDLPGBO BMU Q BUUSJCVUFBTBOFSSPSVOMFTTPOFPGUIFDPOEJUJPOTMJTUFE


    CFMPXBQQMJFT

    Ǭ 5IF UJUMF Q BUUSJCVUFJTQSFTFOUBOEIBTBOPOFNQUZWBMVF BT EFTDSJCFEBCPWF Q


    

    Ǭ 5IF JNH Q FMFNFOUJTJOB GJHVSF Q FMFNFOUUIBUDPOUBJOTB GJHDBQUJPO Q FMFNFOUUIBUDPOUBJOTDPOUFOU
    PUIFSUIBO JOUFSFMFNFOUXIJUFTQBDF Q BT EFTDSJCFEBCPWF Q
    

    Ǭ 5IF JNH Q FMFNFOUJTQBSUPGUIFPOMZ QBSBHSBQI Q EJSFDUMZJOJUT TFDUJPO Q BOEJTUIFPOMZ JNH Q FMFNFOU
    XJUIPVUBO BMU Q BUUSJCVUFJOJUTTFDUJPO BOEJUT TFDUJPO Q IBTBOBTTPDJBUFEIFBEJOH BT EFTDSJCFE
    BCPWF Q
    

    Ǭ 5IFDPOGPSNBODFDIFDLFSIBTCFFODPOИHVSFEUPBTTVNFUIBUUIFEPDVNFOUJTBOFNBJMPSEPDVNFOU
    JOUFOEFEGPSBTQFDJИDQFSTPOXIPJTLOPXOUPCFBCMFUPWJFXJNBHFT

    Ǭ 5IFEPDVNFOUIBTB NFUB Q FMFNFOUXJUIB OBNF Q BUUSJCVUFXIPTFWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q


    NBUDIGPSUIFTUSJOHHFOFSBUPS Q  5IJTDBTFEPFTOPUSFQSFTFOUBDBTFXIFSFUIFEPDVNFOUJT
    DPOGPSNJOH POMZUIBUUIFHFOFSBUPSDPVMEOPUEFUFSNJOFBQQSPQSJBUFBMUFSOBUJWFUFYUǡWBMJEBUPSTBSF
    SFRVJSFEUPOPUTIPXBOFSSPSJOUIJTDBTFUPEJTDPVSBHFNBSLVQHFOFSBUPSTGSPNJODMVEJOHCPHVTBMUFSOBUJWF
    UFYUQVSFMZJOBOBUUFNQUUPTJMFODFWBMJEBUPST

    
       0B? DAM<H@ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    &NCFEEFEDPOUFOU Q 
    *OUFSBDUJWFDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF FNCFEEFEDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    5FYUUIBUDPOGPSNTUPUIFSFRVJSFNFOUTHJWFOJOUIFQSPTF

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    TSD Q
    TSDEPD Q
    OBNF Q
    TBOECPY Q
    TFBNMFTT Q
    XJEUI Q
    IFJHIU Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*'$M<H@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH TSD
    BUUSJCVUF%0.4USJOH TSDEPD
    BUUSJCVUF%0.4USJOH OBNF
    <1VU'PSXBSETWBMVF>SFBEPOMZBUUSJCVUF %0.4FUUBCMF5PLFO-JTU TBOECPY
    BUUSJCVUFCPPMFBO TFBNMFTT
    BUUSJCVUF%0.4USJOH XJEUI
    BUUSJCVUF%0.4USJOH IFJHIU
    SFBEPOMZBUUSJCVUF%PDVNFOU DPOUFOU%PDVNFOU
    SFBEPOMZBUUSJCVUF 8JOEPX1SPYZ DPOUFOU8JOEPX
    ^

    5IF JGSBNF Q FMFNFOU SFQSFTFOUT Q B OFTUFECSPXTJOHDPOUFYU Q 

    5IF NM> BUUSJCVUFHJWFTUIFBEESFTTPGBQBHFUIBUUIF OFTUFECSPXTJOHDPOUFYU Q JTUPDPOUBJO5IFBUUSJCVUF JG


    QSFTFOU NVTUCFB WBMJEOPOFNQUZ63- Q 

    5IF NM>?J> BUUSJCVUFHJWFTUIFDPOUFOUPGUIFQBHFUIBUUIF OFTUFECSPXTJOHDPOUFYU Q JTUPDPOUBJO5IFWBMVFPGUIF


    BUUSJCVUFJOJT ;H DAM<H@ NM>?J> >I=OG?HN

    'PS JGSBNF Q FMFNFOUTJO )5.-EPDVNFOUT Q UIFBUUSJCVUF JGQSFTFOU NVTUIBWFBWBMVFVTJOH UIF)5.-TZOUBY Q
    UIBUDPOTJTUTPGUIFGPMMPXJOHTZOUBDUJDDPNQPOFOUT JOUIFHJWFOPSEFS

     "OZOVNCFSPG DPNNFOUT Q BOE TQBDFDIBSBDUFST Q 

     0QUJPOBMMZ B %0$5:1& Q 

     "OZOVNCFSPG DPNNFOUT Q BOE TQBDFDIBSBDUFST Q 

     5IFSPPUFMFNFOU JOUIFGPSNPGBO IUNM Q FMFNFOU Q 

     "OZOVNCFSPG DPNNFOUT Q BOE TQBDFDIBSBDUFST Q 

    'PS JGSBNF Q FMFNFOUTJO 9.-EPDVNFOUT Q UIFBUUSJCVUF JGQSFTFOU NVTUIBWFBWBMVFUIBUNBUDIFTUIFQSPEVDUJPO


    MBCFMFE EPDVNFOU Q JOUIF9.-TQFDJИDBUJPO <9.-> Q

    *GUIF TSD Q BUUSJCVUFBOEUIF TSDEPD Q BUUSJCVUFBSFCPUITQFDJИFEUPHFUIFS UIF TSDEPD Q BUUSJCVUFUBLFTQSJPSJUZ
    5IJTBMMPXTBVUIPSTUPQSPWJEFBGBMMCBDL 63- Q GPSMFHBDZVTFSBHFOUTUIBUEPOPUTVQQPSUUIF TSDEPD Q BUUSJCVUF

    8IFOBO JGSBNF Q FMFNFOUJTИSTU JOTFSUFEJOUPBEPDVNFOU Q UIFVTFSBHFOUNVTUDSFBUFB OFTUFECSPXTJOH


    DPOUFYU Q BOEUIFO QSPDFTTUIF JGSBNF BUUSJCVUFT Q GPSUIFИSTUUJNF

    
    8IFOFWFSBO JGSBNF Q FMFNFOUXJUIB OFTUFECSPXTJOHDPOUFYU Q IBTJUT TSDEPD Q BUUSJCVUFTFUPSDIBOHFE UIF
    VTFSBHFOUNVTU QSPDFTTUIF JGSBNF BUUSJCVUFT Q 

    4JNJMBSMZ XIFOFWFSBO JGSBNF Q FMFNFOUXJUIB OFTUFECSPXTJOHDPOUFYU Q CVUXJUIOP TSDEPD Q BUUSJCVUF
    TQFDJИFEIBTJUT TSD Q BUUSJCVUFTFUPSDIBOHFE UIFVTFSBHFOUNVTU QSPDFTTUIF JGSBNF BUUSJCVUFT Q 

    8IFOUIFVTFSBHFOUJTUP JLI=?MMNB? DAM<H@ ;NNLC<ON?M JUNVTUSVOUIFИSTUBQQSPQSJBUFTUFQTGSPNUIFGPMMPXJOH


    MJTU
    K
    X %@NB? NM>?J> ;NNLC<ON?CMMJ?=C]?>
    /BWJHBUF Q UIFFMFNFOUT CSPXTJOHDPOUFYU Q UPBSFTPVSDFXIPTF $POUFOU5ZQF Q JT UFYUIUNM Q XIPTF
    63- Q JT BCPVUTSDEPD Q BOEXIPTFEBUBDPOTJTUTPGUIFWBMVFPGUIFBUUSJCVUF
    K
    X %@NB? NM> ;NNLC<ON?CMMJ?=C]?><ONNB? NM>?J> K ;NNLC<ON?CMHIN

     *GUIFWBMVFPGUIF TSD Q BUUSJCVUFJTUIFFNQUZTUSJOH KVNQUPUIF 4<?CH TUFQCFMPX

     3FTPMWF Q UIFWBMVFPGUIF TSD Q BUUSJCVUF SFMBUJWFUPUIF JGSBNF Q FMFNFOU

     *GUIBUJTOPUTVDDFTTGVM UIFOKVNQUPUIF 4<?CH TUFQCFMPX

     *GUIFSFTVMUJOH BCTPMVUF63- Q JTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOH


    BCPVUCMBOL Q  BOEUIFVTFSBHFOUJTQSPDFTTJOHUIJT JGSBNF Q TBUUSJCVUFTGPSUIFИSTUUJNF
    UIFOKVNQUPUIF 4<?CH TUFQCFMPX *ODBTFTPUIFSUIBOUIFИSTUUJNF BCPVUCMBOL Q JTMPBEFE
    OPSNBMMZ

     /BWJHBUF Q UIFFMFNFOUT CSPXTJOHDPOUFYU Q UPUIFSFTVMUJOH BCTPMVUF63- Q 

    <?CH 8IFOUIFTUFQTBCPWFSFRVJSFUIFVTFSBHFOUUPKVNQUPUIF 4<?CH TUFQ JGUIFVTFSBHFOUJT


    QSPDFTTJOHUIJT JGSBNF Q TBUUSJCVUFTGPSUIFИSTUUJNF UIFOUIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFB
    TJNQMFFWFOU Q OBNFE MPBE BUUIF JGSBNF Q FMFNFOU "GUFSKVNQJOHUPUIJTTUFQ UIFBCPWFTUFQTBSFOPU
    SFTVNFE

    X +NB?LQCM?
    2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BUUIF JGSBNF Q FMFNFOU

    "OZ OBWJHBUJPO Q SFRVJSFEPGUIFVTFSBHFOUJOUIF QSPDFTTUIF JGSBNF BUUSJCVUFT Q BMHPSJUINNVTUCFDPNQMFUFE


    XJUIUIF JGSBNF Q FMFNFOUTEPDVNFOUT CSPXTJOHDPOUFYU Q BTUIF TPVSDFCSPXTJOHDPOUFYU Q 

    'VSUIFSNPSF JGUIF QSPDFTTUIF JGSBNF BUUSJCVUFT Q BMHPSJUINXBTJOWPLFEGPSUIFИSTUUJNFGPSUIJTFMFNFOU JFBTB


    SFTVMUPGUIFFMFNFOUCFJOH JOTFSUFEJOUPBEPDVNFOU Q
    UIFOBOZ OBWJHBUJPO Q SFRVJSFEPGUIFVTFSBHFOUJOUIBU
    BMHPSJUINNVTUCFDPNQMFUFEXJUI SFQMBDFNFOUFOBCMFE Q 

    *HM> %? PA>GMA>>E>F>GMBL<K>:M>= MA> LK<=H< I :MMKB;NM>BLGHML>M :G=MA> LK< I :MMKB;NM>BL
    >BMA>K:ELHGHML>MHKL>M;NMBMLO:EN><:GGHM;> K>LHEO>= I MA>;KHPLBG@<HGM>QMPBEEK>F:BG:M
    MA>BGBMB:E :;HNM;E:GD I I:@>

    *HM> %?MA>NL>K G:OB@:M>L I :P:R?KHFMABLI:@> MA> B?K:F> I L<HKK>LIHG=BG@ 5BG=HP.KHQR I
    H;C><MPBEEIKHQRG>P 5BG=HP I H;C><ML?HKG>P #H<NF>GM I H;C><ML ;NMMA> LK< I :MMKB;NM>PBEE
    GHM<A:G@>

    )FSFBCMPHVTFTUIF TSDEPD Q BUUSJCVUFJODPOKVODUJPOXJUIUIF TBOECPY Q BOE TFBNMFTT Q BUUSJCVUFT
    EFTDSJCFECFMPXUPQSPWJEFVTFSTPGVTFSBHFOUTUIBUTVQQPSUUIJTGFBUVSFXJUIBOFYUSBMBZFSPGQSPUFDUJPOGSPN
    TDSJQUJOKFDUJPOJOUIFCMPHQPTUDPNNFOUT

    BSUJDMF
    I*HPUNZPXONBHB[JOFI
    Q"GUFSNVDIFGGPSU *WFGJOBMMZGPVOEBQVCMJTIFS BOETPOPX*
    IBWFNZPXONBHB[JOF*TOUUIBUBXFTPNF 5IFGJSTUJTTVFXJMMDPNF
    PVUJO4FQUFNCFS BOEXFIBWFBSUJDMFTBCPVUHFUUJOHGPPE BOEBCPVU
    HFUUJOHJOCPYFT JUTHPJOHUPCFHSFBUQ
    GPPUFS
    Q8SJUUFOCZBISFGVTFSTDBQDBQB
    UJNFQVCEBUF5;UJNFQ
    GPPUFS
    BSUJDMF
    GPPUFS"UUJNFQVCEBUF5;UJNF BISFGVTFSTDIDIBXSJUFT
    GPPUFS

    
    JGSBNFTFBNMFTTTBOECPYBMMPXTBNFPSJHJOTSDEPDQEJEZPVHFUBDPWFSQJDUVSF
    ZFU JGSBNF
    BSUJDMF
    BSUJDMF
    GPPUFS"UUJNFQVCEBUF5;UJNF BISFGVTFSTDBQDBQB
    XSJUFTGPPUFS
    JGSBNFTFBNMFTTTBOECPYBMMPXTBNFPSJHJOTSDEPDQ:FBI ZPVDBOTFFJUB
    ISFGRVPUHBMMFSZ NPEFDPWFSBNQBNQQBHFRVPUJONZHBMMFSZBJGSBNF
    BSUJDMF
    BSUJDMF
    GPPUFS"UUJNFQVCEBUF5;UJNF BISFGVTFSTDIDIBXSJUFT
    GPPUFS
    JGSBNFTFBNMFTTTBOECPYBMMPXTBNFPSJHJOTSDEPDQIFZUIBUTFBSMTUBCMF
    QZPVTIPVMEHFUFBSMBNQBNQNFPOUIFOFYUDPWFSJGSBNF
    BSUJDMF

    /PUJDFUIFXBZUIBURVPUFTIBWFUPCFFTDBQFE PUIFSXJTFUIF TBOECPY Q BUUSJCVUFXPVMEFOEQSFNBUVSFMZ



    BOEUIFXBZSBXBNQFSTBOET FHJO63-TPSJOQSPTF
    NFOUJPOFEJOUIFTBOECPYFEDPOUFOUIBWFUPCF 3>D1;H
    FTDBQFEǡPODFTPUIBUUIFBNQFSTBOEJTQSFTFSWFEXIFOPSJHJOBMMZQBSTJOHUIF TBOECPY Q BUUSJCVUF BOEPODF
    NPSFUPQSFWFOUUIFBNQFSTBOEGSPNCFJOHNJTJOUFSQSFUFEXIFOQBSTJOHUIFTBOECPYFEDPOUFOU

    *HM> %G MA>$0)(LRGM:Q I :NMAHKLG>>=HGERK>F>F;>KMHNL>1 -1+00%+*).'


    <A:K:<M>KLMHPK:IMA>:MMKB;NM><HGM>GML:G=MA>GMH>L<:I>:EE1 -1+00%+*).'
    :G=1 ),!./* <A:K:<M>KL :G=MHLI><B?RMA> L:G=;HQ I :MMKB;NM> MH>GLNK>L:?>
    >F;>==BG@H?<HGM>GM

    *HM> N>MHK>LMKB<MBHGLH? MA>4)(LRGM:Q BG4)(:GNF;>KH?HMA>K<A:K:<M>KLG>>=MH;>


    >L<:I>=:ELHMH>GLNK><HKK><MG>LL

    5IF I<H@ BUUSJCVUF JGQSFTFOU NVTUCFB WBMJECSPXTJOHDPOUFYUOBNF Q 5IFHJWFOWBMVFJTVTFEUPOBNFUIF OFTUFE


    CSPXTJOHDPOUFYU Q  8IFOUIFCSPXTJOHDPOUFYUJTDSFBUFE JGUIFBUUSJCVUFJTQSFTFOU UIF CSPXTJOHDPOUFYUOBNF Q
    NVTUCFTFUUPUIFWBMVFPGUIJTBUUSJCVUFPUIFSXJTF UIF CSPXTJOHDPOUFYUOBNF Q NVTUCFTFUUPUIFFNQUZTUSJOH

    8IFOFWFSUIF OBNF Q BUUSJCVUFJTTFU UIFOFTUFE CSPXTJOHDPOUFYU Q T OBNF Q NVTUCFDIBOHFEUPUIFOFXWBMVF
    *GUIFBUUSJCVUFJTSFNPWFE UIF CSPXTJOHDPOUFYUOBNF Q NVTUCFTFUUPUIFFNQUZTUSJOH

    8IFODPOUFOUMPBETJOBO JGSBNF Q BGUFSBOZ MPBE FWFOUTBSFИSFEXJUIJOUIFDPOUFOUJUTFMG UIFVTFSBHFOUNVTU


    RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BUUIF JGSBNF Q FMFNFOU8IFODPOUFOUXIPTF 63- Q IBTUIF
    TBNFPSJHJO Q BTUIF JGSBNF Q FMFNFOUT %PDVNFOU Q GBJMTUPMPBE FHEVFUPB%/4FSSPS OFUXPSLFSSPS PSJGUIF
    TFSWFSSFUVSOFEBYYPSYYTUBUVTDPEF PSFRVJWBMFOU Q
    UIFOUIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMF
    FWFOU Q OBNFE FSSPS BUUIFFMFNFOUJOTUFBE 5IJTFWFOUEPFTOPUИSFGPS QBSTFFSSPST Q TDSJQUFSSPST PSBOZFSSPST
    GPSDSPTTPSJHJOSFTPVSDFT

    5IF UBTLTPVSDF Q GPSUIFTF UBTLT Q JTUIF %0.NBOJQVMBUJPOUBTLTPVSDF Q 

    *HM>  EH:= >O>GMBL:ELH[K>=:MMA> B?K:F> I >E>F>GMPA>GBMBL<K>:M>=B?GHHMA>K=:M:BL


    EH:=>=BGBM

    8IFOUIFSFJTBO BDUJWFQBSTFS Q JOUIF JGSBNF Q BOEXIFOBOZUIJOHJOUIF JGSBNF Q JT EFMBZJOHUIFMPBEFWFOU Q
    PGUIF JGSBNF Q T CSPXTJOHDPOUFYU Q T BDUJWFEPDVNFOU Q UIF JGSBNF Q NVTU EFMBZUIFMPBEFWFOU Q PGJUT
    EPDVNFOU

    *HM> %? =NKBG@MA>A:G=EBG@H?MA> EH:= >O>GM MA> ;KHPLBG@<HGM>QM I BGMA> B?K:F> I BL:@:BG
    G:OB@:M>= I MA:MPBEE?NKMA>K =>E:RMA>EH:=>O>GM I

    5IF N<I?=JS BUUSJCVUF XIFOTQFDJИFE FOBCMFTBTFUPGFYUSBSFTUSJDUJPOTPOBOZDPOUFOUIPTUFECZUIF JGSBNF Q *UT


    WBMVFNVTUCFBO VOPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFEUPLFOT Q 5IFBMMPXFEWBMVFTBSF BMMPXTBNFPSJHJO Q
    BMMPXUPQOBWJHBUJPO Q BMMPXGPSNT Q BOE BMMPXTDSJQUT Q 8IFOUIFBUUSJCVUFJTTFU UIFDPOUFOUJTUSFBUFE
    BTCFJOHGSPNBVOJRVF PSJHJO Q GPSNTBOETDSJQUTBSFEJTBCMFE MJOLTBSFQSFWFOUFEGSPNUBSHFUJOHPUIFS CSPXTJOH
    DPOUFYUT Q BOEQMVHJOTBSFEJTBCMFE5IF BMMPXTBNFPSJHJO Q LFZXPSEBMMPXTUIFDPOUFOUUPCFUSFBUFEBTCFJOH
    GSPNUIFTBNFPSJHJOJOTUFBEPGGPSDJOHJUJOUPBVOJRVFPSJHJO UIF BMMPXUPQOBWJHBUJPO Q LFZXPSEBMMPXTUIF
    DPOUFOUUP OBWJHBUF Q JUT UPQMFWFMCSPXTJOHDPOUFYU Q BOEUIF BMMPXGPSNT Q BOE BMMPXTDSJQUT Q LFZXPSET
    SFFOBCMFGPSNTBOETDSJQUTSFTQFDUJWFMZ UIPVHITDSJQUTBSFTUJMMQSFWFOUFEGSPNDSFBUJOHQPQVQT
    

    
    [3;LHCHA />MMBG@;HMAMA> :EEHP L<KBIML I :G= :EEHP L:F> HKB@BG I D>RPHK=LMH@>MA>KPA>GMA>
    >F;>==>=I:@>A:LMA> L:F>HKB@BG I :LMA>I:@><HGM:BGBG@MA> B?K:F> I :EEHPLMA>>F;>==>=I:@>
    MHLBFIERK>FHO>MA> L:G=;HQ I :MMKB;NM>

    [3;LHCHA /:G=;HQBG@AHLMBE><HGM>GMBLH?FBGBF:EA>EIB?:G:MM:<D>K<:G<HGOBG<>MA>NL>KMHCNLMOBLBM
    MA>AHLMBE><HGM>GM=BK><MER K:MA>KMA:GBGMA> B?K:F> I 0HEBFBMMA>=:F:@>MA:M<:G;><:NL>=;R
    AHLMBE>$0)(<HGM>GM BMLAHNE=;>L>KO>=NLBG@MA> M>QMAMFE L:G=;HQ>= I )%)!MRI>

    8IJMFUIF TBOECPY Q BUUSJCVUFJTTQFDJИFE UIF JGSBNF Q FMFNFOUT OFTUFECSPXTJOHDPOUFYU Q NVTUIBWFUIFЙBHT
    HJWFOJOUIFGPMMPXJOHMJTUTFU*OBEEJUJPO BOZCSPXTJOHDPOUFYUT OFTUFE Q XJUIJOBO JGSBNF Q FJUIFSEJSFDUMZPS
    JOEJSFDUMZ NVTUIBWFBMMUIFЙBHTTFUPOUIFNBTXFSFTFUPOUIF JGSBNF Q T %PDVNFOU Q T CSPXTJOHDPOUFYU Q XIFO
    UIF JGSBNF Q T %PDVNFOU Q XBTDSFBUFE

    0B? L:G=;HQ>=G:OB@:MBHG;KHPLBG@<HGM>QM\:@
    5IJTЙBH QSFWFOUTDPOUFOUGSPNOBWJHBUJOHCSPXTJOHDPOUFYUTPUIFSUIBOUIFTBOECPYFECSPXTJOHDPOUFYU
    JUTFMG Q PSCSPXTJOHDPOUFYUTGVSUIFSOFTUFEJOTJEFJU
    BOEUIF UPQMFWFMCSPXTJOHDPOUFYU Q XIJDIJT
    QSPUFDUFECZUIF TBOECPYFEUPQMFWFMOBWJHBUJPOCSPXTJOHDPOUFYUЙBH Q EFИOFEOFYU
    

    5IJTЙBHBMTP QSFWFOUTDPOUFOUGSPNDSFBUJOHOFXBVYJMJBSZCSPXTJOHDPOUFYUT Q FHVTJOHUIF UBSHFU Q


    BUUSJCVUFPSUIF XJOEPXPQFO
    Q NFUIPE

    0B? L:G=;HQ>=MHI
    E>O>EG:OB@:MBHG;KHPLBG@<HGM>QM\:@
    OHF?MMNB? N<I?=JS K ;NNLC<ON?MP;FO?
    QB?H
    MJFCNIHMJ;=?M J
    CM@IOH>NIB;P?NB? :EEHP MHI G:OB@:MBHG E?SQIL>M?N
    5IJTЙBH QSFWFOUTDPOUFOUGSPNOBWJHBUJOHUIFJS UPQMFWFMCSPXTJOHDPOUFYU Q 

    8IFOUIF BMMPXUPQOBWJHBUJPO Q JTTFU DPOUFOUDBOOBWJHBUFJUT UPQMFWFMCSPXTJOHDPOUFYU Q CVUPUIFS


    CSPXTJOHDPOUFYUT Q BSFTUJMMQSPUFDUFECZUIF TBOECPYFEOBWJHBUJPOCSPXTJOHDPOUFYUЙBH Q EFИOFEBCPWF

    0B? L:G=;HQ>=IEN@BGL;KHPLBG@<HGM>QM\:@
    5IJTЙBHQSFWFOUTDPOUFOUGSPNJOTUBOUJBUJOH QMVHJOT Q XIFUIFSVTJOH UIF FNCFE FMFNFOU Q UIF PCKFDU
    FMFNFOU Q UIF BQQMFU FMFNFOU Q PSUISPVHI OBWJHBUJPO Q PGB OFTUFECSPXTJOHDPOUFYU Q 

    0B? L:G=;HQ>=L>:FE>LLB?K:F>L\:@
    5IJTЙBHQSFWFOUTDPOUFOUGSPNVTJOHUIF TFBNMFTT Q BUUSJCVUFPOEFTDFOEBOU JGSBNF Q FMFNFOUT

    *HM> 0ABLIK>O>GML:I:@>BGL>KM>=NLBG@MA> :EEHP L:F> HKB@BG I D>RPHK=?KHFNLBG@:


    //
    L>E><MHK
    ;:L>=F>MAH=H?IKH;BG@MA> +)H?HMA>KI:@>LHGMA>L:F>LBM>BG
    I:KMB<NE:K I:@>LMA:M<HGM:BGNL>K
    L>GLBMBO>BG?HKF:MBHG

    0B? L:G=;HQ>=HKB@BG;KHPLBG@<HGM>QM\:@
    OHF?MMNB? N<I?=JS K ;NNLC<ON?MP;FO?
    QB?H MJFCNIH
    MJ;=?M J
    CM@IOH>NIB;P?NB? :EEHP L:F> HKB@BG E?SQIL>M?N
    5IJTЙBH GPSDFTDPOUFOUJOUPBVOJRVFPSJHJO Q UIVTQSFWFOUJOHJUGSPNBDDFTTJOHPUIFSDPOUFOUGSPNUIFTBNF
    PSJHJO Q 

    5IJTЙBHBMTP QSFWFOUTTDSJQUGSPNSFBEJOHGSPNPSXSJUJOHUPUIF EPDVNFOUDPPLJF *%-BUUSJCVUF Q BOECMPDLT


    BDDFTTUP MPDBM4UPSBHF BOE PQFO%BUBCBTF
     <8&#4503"(&> Q <8&#42-> Q

    0A> :EEHP L:F> HKB@BG I :MMKB;NM>BLBGM>G=>=?HKMPH<:L>L

    "BKLM BM<:G;>NL>=MH:EEHP<HGM>GM?KHFMA>L:F>LBM>MH;>L:G=;HQ>=MH=BL:;E>
    L<KBIMBG@ PABE>LMBEE:EEHPBG@:<<>LLMHMA> +)H?MA>L:G=;HQ>=<HGM>GM

    /><HG= BM<:G;>NL>=MH>F;>=<HGM>GM?KHF:MABK=
    I:KMRLBM> L:G=;HQ>=MHIK>O>GMMA:M
    LBM>?KHFHI>GBG@IHINIPBG=HPL >M< PBMAHNMIK>O>GMBG@MA>>F;>==>=I:@>?KHF
    <HFFNGB<:MBG@;:<DMHBMLHKB@BG:MBG@LBM> NLBG@MA>=:M:;:L>,%LMHLMHK>=:M: >M<

    0B? L:G=;HQ>=?HKFL;KHPLBG@<HGM>QM\:@
    OHF?MMNB? N<I?=JS K ;NNLC<ON?MP;FO?
    QB?H MJFCNIH
    MJ;=?M J
    CM@IOH>NIB;P?NB? :EEHP ?HKFL E?SQIL>M?N
    5IJTЙBH CMPDLTGPSNTVCNJTTJPO Q 

    0B? L:G=;HQ>=L<KBIML;KHPLBG@<HGM>QM\:@
    OHF?MMNB? N<I?=JS K ;NNLC<ON?MP;FO?
    QB?H MJFCNIH
    MJ;=?M J
    CM@IOH>NIB;P?NB? :EEHP L<KBIML E?SQIL>M?N
    5IJTЙBH CMPDLTTDSJQUFYFDVUJPO Q 

    
    0B? L:G=;HQ>=:NMHF:MB<?>:MNK>L;KHPLBG@<HGM>QM\:@
    OHF?MMNB? N<I?=JS K ;NNLC<ON?MP;FO?
    QB?H
    MJFCNIHMJ;=?M J
    CM@IOH>NIB;P?NB? <GGJR N>MDKON K E?SQIL>>?]H?>;<IP?M?N
    5IJTЙBHCMPDLTGFBUVSFTUIBUUSJHHFSBVUPNBUJDBMMZ TVDIBT BVUPNBUJDBMMZQMBZJOHBWJEFP Q PS BVUPNBUJDBMMZ
    GPDVTJOHBGPSNDPOUSPM Q *UJTSFMBYFECZUIFTBNFЙBHBTTDSJQUT CFDBVTFXIFOTDSJQUTBSFFOBCMFEUIFTF
    GFBUVSFTBSFUSJWJBMMZQPTTJCMFBOZXBZ BOEJUXPVMECFVOGPSUVOBUFUPGPSDFBVUIPSTUPVTFTDSJQUUPEPUIFNXIFO
    TBOECPYFESBUIFSUIBOBMMPXJOHUIFNUPVTFUIFEFDMBSBUJWFGFBUVSFT

    5IFTFЙBHTNVTUOPUCFTFUVOMFTTUIFDPOEJUJPOTMJTUFEBCPWFEFИOFUIFNBTCFJOHTFU

    [3;LHCHA 0A>L>\:@LHGERM:D>>Z><MPA>GMA> G>LM>=;KHPLBG@<HGM>QM I H?MA> B?K:F> I BL


    G:OB@:M>= I .>FHOBG@MA>G HKK>FHOBG@MA>>GMBK> L:G=;HQ I :MMKB;NM> A:LGH>Z><MHG:G:EK>:=R

    EH:=>=I:@>

    *OUIJTFYBNQMF TPNFDPNQMFUFMZVOLOPXO QPUFOUJBMMZIPTUJMF VTFSQSPWJEFE)5.-DPOUFOUJTFNCFEEFEJOB


    QBHF#FDBVTFJUJTTBOECPYFE JUJTUSFBUFECZUIFVTFSBHFOUBTCFJOHGSPNBVOJRVFPSJHJO EFTQJUFUIFDPOUFOU
    CFJOHTFSWFEGSPNUIFTBNFTJUF5IVTJUJTBЗFDUFECZBMMUIFOPSNBMDSPTTTJUFSFTUSJDUJPOT*OBEEJUJPO UIF
    FNCFEEFEQBHFIBTTDSJQUJOHEJTBCMFE QMVHJOTEJTBCMFE GPSNTEJTBCMFE BOEJUDBOOPUOBWJHBUFBOZGSBNFTPS
    XJOEPXTPUIFSUIBOJUTFMG PSBOZGSBNFTPSXJOEPXTJUJUTFMGFNCFET
    

    Q8FSFOPUTDBSFEPGZPV)FSFJTZPVSDPOUFOU VOFEJUFEQ
    JGSBNFTBOECPYTSDHFUVTFSDPOUFOUDHJ JEJGSBNF

    /PUFUIBUDPPLJFTBSFTUJMMTFOUUPUIFTFSWFSJOUIF HFUVTFSDPOUFOUDHJ SFRVFTU UIPVHIUIFZBSFOPUWJTJCMFJO


    UIF EPDVNFOUDPPLJF Q *%-BUUSJCVUF

    [3;LHCHA %MBLBFIHKM:GMMA:MMA>L>KO>KL>KO>MA>NL>K
    IKHOB=>=$0)(NLBG@MA> M>QMAMFE
    L:G=;HQ>= I )%)!MRI>LHMA:MB?MA>:MM:<D>K<HGOBG<>LMA>NL>KMHOBLBMMA:MI:@>=BK><MER MA>
    I:@>=H>LGMKNGBGMA><HGM>QMH?MA>LBM>LHKB@BG PAB<APHNE=F:D>MA>NL>KONEG>K:;E>MH:GR
    :MM:<D?HNG=BGMA>I:@>

    *OUIJTFYBNQMF BHBEHFUGSPNBOPUIFSTJUFJTFNCFEEFE5IFHBEHFUIBTTDSJQUJOHBOEGPSNTFOBCMFE BOEUIF


    PSJHJOTBOECPYSFTUSJDUJPOTBSFMJGUFE BMMPXJOHUIFHBEHFUUPDPNNVOJDBUFXJUIJUTPSJHJOBUJOHTFSWFS5IF
    TBOECPYJTTUJMMVTFGVM IPXFWFS BTJUEJTBCMFTQMVHJOTBOEQPQVQT UIVTSFEVDJOHUIFSJTLPGUIFVTFSCFJOH
    FYQPTFEUPNBMXBSFBOEPUIFSBOOPZBODFT

    JGSBNFTBOECPYBMMPXTBNFPSJHJOBMMPXGPSNTBMMPXTDSJQUT
    TSDIUUQNBQTFYBNQMFDPNFNCFEEFEIUNMJGSBNF

    4VQQPTFBИMF"DPOUBJOFEUIFGPMMPXJOHGSBHNFOU

    JGSBNFTBOECPYBMMPXTBNFPSJHJOBMMPXGPSNTTSD#JGSBNF

    4VQQPTFUIBUИMF#DPOUBJOFEBOJGSBNFBMTP

    JGSBNFTBOECPYBMMPXTDSJQUTTSD$JGSBNF

    'VSUIFS TVQQPTFUIBUИMF$DPOUBJOFEBMJOL

    BISFG%-JOLB

    'PSUIJTFYBNQMF TVQQPTFBMMUIFИMFTXFSFTFSWFEBT UFYUIUNM Q 

    1BHF$JOUIJTTDFOBSJPIBTBMMUIFTBOECPYJOHЙBHTTFU4DSJQUTBSFEJTBCMFE CFDBVTFUIF JGSBNF Q JO"IBT


    TDSJQUTEJTBCMFE BOEUIJTPWFSSJEFTUIF BMMPXTDSJQUT Q LFZXPSETFUPOUIF JGSBNF Q JO#'PSNTBSFBMTP
    EJTBCMFE CFDBVTFUIFJOOFS JGSBNF Q JO#
    EPFTOPUIBWFUIF BMMPXGPSNT Q LFZXPSETFU

    4VQQPTFOPXUIBUBTDSJQUJO"SFNPWFTBMMUIF TBOECPY Q BUUSJCVUFTJO"BOE#5IJTXPVMEDIBOHFOPUIJOH


    JNNFEJBUFMZ*GUIFVTFSDMJDLFEUIFMJOLJO$ MPBEJOHQBHF%JOUPUIF JGSBNF Q JO# QBHF%XPVMEOPXBDUBTJG
    UIF JGSBNF Q JO#IBEUIF BMMPXTBNFPSJHJO Q BOE BMMPXGPSNT Q LFZXPSETTFU CFDBVTFUIBUXBTUIF
    TUBUFPGUIF OFTUFECSPXTJOHDPOUFYU Q JOUIF JGSBNF Q JO"XIFOQBHF#XBTMPBEFE

    (FOFSBMMZTQFBLJOH EZOBNJDBMMZSFNPWJOHPSDIBOHJOHUIF TBOECPY Q BUUSJCVUFJTJMMBEWJTFE CFDBVTFJUDBO


    NBLFJURVJUFIBSEUPSFBTPOBCPVUXIBUXJMMCFBMMPXFEBOEXIBUXJMMOPU

    *HM> ,HM>GMB:EERAHLMBE>[E>L<:G;>L>KO>=?KHFMA>L:F>L>KO>K:LMA>[E><HGM:BGBG@MA>
    B?K:F> I >E>F>GM;RE:;>EBG@MA>F:L M>QMAMFE L:G=;HQ>= I BGLM>:=H? M>QMAMFE I 0ABL
    >GLNK>LMA:ML<KBIMLBGMA>[E>L:K>NG:;E>MH:MM:<DMA>LBM>:LB?MA>RP>K>:<MN:EERL>KO>=?KHF
    :GHMA>KL>KO>K >O>GB?MA>NL>KBLMKB<D>=BGMHOBLBMBG@MAHL>I:@>L=BK><MER PBMAHNMMA>
    IKHM><MBHGH?MA> L:G=;HQ I :MMKB;NM>

    
    [3;LHCHA %?MA> :EEHP L<KBIML I D>RPHK=BLL>M:EHG@PBMA :EEHP L:F> HKB@BG I D>RPHK= :G=MA>[E>BL
    ?KHFMA> L:F>HKB@BG I :LMA> B?K:F> I L #H<NF>GM I MA>G:L<KBIMBGMA>L:G=;HQ>=B?K:F><HNE=CNLM
    K>:<AHNM K>FHO>MA> L:G=;HQ I :MMKB;NM> :G=MA>GK>EH:=BML>E? >Z><MBO>ER;K>:DBG@HNMH?MA>
    L:G=;HQ:EMH@>MA>K

    5IF N@<HG@NN BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q 8IFOTQFDJИFE JUJOEJDBUFTUIBUUIF JGSBNF Q FMFNFOUT CSPXTJOH
    DPOUFYU Q JTUPCFSFOEFSFEJOBNBOOFSUIBUNBLFTJUBQQFBSUPCFQBSUPGUIFDPOUBJOJOHEPDVNFOU TFBNMFTTMZ
    JODMVEFEJOUIFQBSFOUEPDVNFOU
     4QFDJИDBMMZ XIFOUIFBUUSJCVUFJTTFUPOBO JGSBNF Q FMFNFOUXIPTFPXOFS
    %PDVNFOU Q T CSPXTJOHDPOUFYU Q EJEOPUIBWFUIF TBOECPYFETFBNMFTTJGSBNFTЙBH Q TFUXIFOUIBU %PDVNFOU Q
    XBTDSFBUFE BOEXIJMFFJUIFSUIF CSPXTJOHDPOUFYU Q T BDUJWFEPDVNFOU Q IBTUIF TBNFPSJHJO Q BTUIF JGSBNF Q
    FMFNFOUTEPDVNFOU PSUIF CSPXTJOHDPOUFYU Q T BDUJWFEPDVNFOU Q T 033A4BB ? IBTUIF TBNFPSJHJO Q BTUIF
    JGSBNF Q FMFNFOUTEPDVNFOU UIFGPMMPXJOHSFRVJSFNFOUTBQQMZ

    Ǭ 5IFVTFSBHFOUNVTUTFUUIF M?;GF?MM<LIQMCHA=IHN?RN^;A UPUSVFGPSUIBU CSPXTJOHDPOUFYU Q 5IJT


    XJMM DBVTFMJOLTUPPQFOJOUIFQBSFOUCSPXTJOHDPOUFYU Q 

    Ǭ *OB$44TVQQPSUJOHVTFSBHFOUUIFVTFSBHFOUNVTUBEEBMMUIFTUZMFTIFFUTUIBUBQQMZUPUIF JGSBNF Q


    FMFNFOUUPUIFDBTDBEFPGUIF BDUJWFEPDVNFOU Q PGUIF JGSBNF Q FMFNFOUT OFTUFECSPXTJOHDPOUFYU Q
    BUUIFBQQSPQSJBUFDBTDBEFMFWFMT CFGPSFBOZTUZMFTIFFUTTQFDJИFECZUIFEPDVNFOUJUTFMG

    Ǭ *OB$44TVQQPSUJOHVTFSBHFOUUIFVTFSBHFOUNVTU GPSUIFQVSQPTFPG$44QSPQFSUZJOIFSJUBODFPOMZ USFBU


    UIFSPPUFMFNFOUPGUIF BDUJWFEPDVNFOU Q PGUIF JGSBNF Q FMFNFOUT OFTUFECSPXTJOHDPOUFYU Q BT
    CFJOHBDIJMEPGUIF JGSBNF Q FMFNFOU 5IVTJOIFSJUFEQSPQFSUJFTPOUIFSPPUFMFNFOUPGUIFEPDVNFOUJO
    UIF JGSBNF Q XJMMJOIFSJUUIFDPNQVUFEWBMVFTPGUIPTFQSPQFSUJFTPOUIF JGSBNF Q FMFNFOUJOTUFBEPG
    UBLJOHUIFJSJOJUJBMWBMVFT

    Ǭ *OWJTVBMNFEJB JOB$44TVQQPSUJOHVTFSBHFOUUIFVTFSBHFOUTIPVMETFUUIFJOUSJOTJDXJEUIPGUIF
    JGSBNF Q UPUIFXJEUIUIBUUIFFMFNFOUXPVMEIBWFJGJUXBTBOPOSFQMBDFECMPDLMFWFMFMFNFOUXJUIXJEUI
    BVUP

    Ǭ *OWJTVBMNFEJB JOB$44TVQQPSUJOHVTFSBHFOUUIFVTFSBHFOUTIPVMETFUUIFJOUSJOTJDIFJHIUPGUIF
    JGSBNF Q UPUIFIFJHIUPGUIFCPVOEJOHCPYBSPVOEUIFDPOUFOUSFOEFSFEJOUIF JGSBNF Q BUJUTDVSSFOU
    XJEUI BTHJWFOJOUIFQSFWJPVTCVMMFUQPJOU
    BTJUXPVMECFJGUIFTDSPMMJOHQPTJUJPOXBTTVDIUIBUUIFUPQPG
    UIFWJFXQPSUGPSUIFDPOUFOUSFOEFSFEJOUIF JGSBNF Q XBTBMJHOFEXJUIUIFPSJHJOPGUIBUDPOUFOUTDBOWBT

    Ǭ *OWJTVBMNFEJB JOB$44TVQQPSUJOHVTFSBHFOUUIFVTFSBHFOUNVTUGPSDFUIFIFJHIUPGUIFJOJUJBMDPOUBJOJOH
    CMPDLPGUIF BDUJWFEPDVNFOU Q PGUIF OFTUFECSPXTJOHDPOUFYU Q PGUIF JGSBNF Q UP[FSP

    *HM> 0ABLBLBGM>G=>=MH@>M:KHNG=MA>HMA>KPBL><BK<NE:K=>I>G=>G<RH?I>K<>GM:@>
    =BF>GLBHGLMA:M=>I>G=HGMA>A>B@AMH?MA><HGM:BGBG@;EH<D MANL:Z><MBG@MA>A>B@AM
    H?MA>=H<NF>GML;HNG=BG@;HQ MANL:Z><MBG@MA>A>B@AMH?MA>OB>PIHKM MANL:Z><MBG@
    MA>LBS>H?MA>BGBMB:E<HGM:BGBG@;EH<D

    Ǭ *OTQFFDINFEJB UIFVTFSBHFOUTIPVMESFOEFSUIF OFTUFECSPXTJOHDPOUFYU Q XJUIPVUBOOPVODJOHUIBUJUJT


    BTFQBSBUFEPDVNFOU

    Ǭ 6TFSBHFOUTTIPVME JOHFOFSBM BDUBTJGUIF BDUJWFEPDVNFOU Q PGUIF JGSBNF Q T OFTUFECSPXTJOH


    DPOUFYU Q XBTQBSUPGUIFEPDVNFOUUIBUUIF JGSBNF Q JTJO

    'PSFYBNQMFJGUIFVTFSBHFOUTVQQPSUTMJTUJOHBMMUIFMJOLTJOBEPDVNFOU MJOLTJOTFBNMFTTMZOFTUFE
    EPDVNFOUTXPVMECFJODMVEFEJOUIBUMJTUXJUIPVUCFJOHTJHOJИDBOUMZEJTUJOHVJTIFEGSPNMJOLTJOUIF
    EPDVNFOUJUTFMG

    *GUIFBUUSJCVUFJTOPUTQFDJИFE PSJGUIF PSJHJO Q DPOEJUJPOTMJTUFEBCPWFBSFOPUNFU UIFOUIFVTFSBHFOUTIPVME


    SFOEFSUIF OFTUFECSPXTJOHDPOUFYU Q JOBNBOOFSUIBUJTDMFBSMZEJTUJOHVJTIBCMFBTBTFQBSBUF CSPXTJOHDPOUFYU Q
    BOEUIF TFBNMFTTCSPXTJOHDPOUFYUЙBH Q NVTUCFTFUUPGBMTFGPSUIBU CSPXTJOHDPOUFYU Q 

    [3;LHCHA %MBLBFIHKM:GMMA:MNL>K:@>GMLK><A><DMA>:;HO><HG=BMBHGLPA>G>O>KMA> :<MBO>


    =H<NF>GM I H?MA> G>LM>=;KHPLBG@<HGM>QM I H?MA> B?K:F> I <A:G@>L LN<AMA:MMA> L>:FE>LL
    ;KHPLBG@<HGM>QM\:@ I @>MLNGL>MB?MA> G>LM>=;KHPLBG@<HGM>QM I BL G:OB@:M>= I MH:GHMA>KHKB@BG

    *HM> 0A>:MMKB;NM><:G;>L>MHKK>FHO>==RG:FB<:EER PBMAMA>K>G=>KBG@NI=:MBG@BGM:G=>F

    *OUIJTFYBNQMF UIFTJUFTOBWJHBUJPOJTFNCFEEFEVTJOHBDMJFOUTJEFJODMVEFVTJOHBO JGSBNF Q "OZMJOLTJO


    UIF JGSBNF Q XJMM JOOFXVTFSBHFOUT CFBVUPNBUJDBMMZPQFOFEJOUIF JGSBNF Q TQBSFOUCSPXTJOHDPOUFYUGPS
    MFHBDZVTFSBHFOUT UIFTJUFDPVMEBMTPJODMVEFB CBTF Q FMFNFOUXJUIB UBSHFU Q BUUSJCVUFXJUIUIFWBMVF

    
    @QBSFOU4JNJMBSMZ JOOFXVTFSBHFOUTUIFTUZMFTPGUIFQBSFOUQBHFXJMMCFBVUPNBUJDBMMZBQQMJFEUPUIF
    DPOUFOUTPGUIFGSBNF CVUUPTVQQPSUMFHBDZVTFSBHFOUTBVUIPSTNJHIUXJTIUPJODMVEFUIFTUZMFTFYQMJDJUMZ

    OBWJGSBNFTFBNMFTTTSDOBWJODMVEFIUNMJGSBNFOBW

    5IF JGSBNF Q FMFNFOUTVQQPSUT EJNFOTJPOBUUSJCVUFT Q GPSDBTFTXIFSFUIFFNCFEEFEDPOUFOUIBTTQFDJИD


    EJNFOTJPOT FHBEVOJUTIBWFXFMMEFИOFEEJNFOTJPOT
    

    "O JGSBNF Q FMFNFOUOFWFSIBT GBMMCBDLDPOUFOU Q BTJUXJMMBMXBZTDSFBUFBOFTUFE CSPXTJOHDPOUFYU Q SFHBSEMFTT
    PGXIFUIFSUIFTQFDJИFEJOJUJBMDPOUFOUTBSFTVDDFTTGVMMZVTFE

    %FTDFOEBOUTPG JGSBNF Q FMFNFOUTSFQSFTFOUOPUIJOH *OMFHBDZVTFSBHFOUTUIBUEPOPUTVQQPSU JGSBNF Q


    FMFNFOUT UIFDPOUFOUTXPVMECFQBSTFEBTNBSLVQUIBUDPVMEBDUBTGBMMCBDLDPOUFOU

    8IFOVTFEJO )5.-EPDVNFOUT Q UIFBMMPXFEDPOUFOUNPEFMPG JGSBNF Q FMFNFOUTJTUFYU FYDFQUUIBUJOWPLJOHUIF


    )5.-GSBHNFOUQBSTJOHBMHPSJUIN Q XJUIUIF JGSBNF Q FMFNFOUBTUIF 2>=C4GC FMFNFOUBOEUIFUFYUDPOUFOUTBTUIF
    8=?DC NVTUSFTVMUJOBMJTUPGOPEFTUIBUBSFBMM QISBTJOHDPOUFOU Q XJUIOP QBSTFFSSPST Q IBWJOHPDDVSSFE XJUIOP
    TDSJQU Q FMFNFOUTCFJOHBOZXIFSFJOUIFMJTUPSBTEFTDFOEBOUTPGFMFNFOUTJOUIFMJTU BOEXJUIBMMUIFFMFNFOUTJO
    UIFMJTU JODMVEJOHUIFJSEFTDFOEBOUT
    CFJOHUIFNTFMWFTDPOGPSNJOH

    5IF JGSBNF Q FMFNFOUNVTUCFFNQUZJO 9.-EPDVNFOUT Q 

    *HM> 0A> $0)(I:KL>K I MK>:MLF:KDNIBGLB=> B?K:F> I >E>F>GML:LM>QM

    5IF*%-BUUSJCVUFT NM> NM>?J> I<H@ N<I?=JS BOE N@<HG@NN NVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIF
    TBNFOBNF

    5IF >JIO@IO"J>PH@IO *%-BUUSJCVUFNVTUSFUVSOUIF %PDVNFOU Q PCKFDUPGUIF BDUJWFEPDVNFOU Q PGUIF JGSBNF Q
    FMFNFOUT OFTUFECSPXTJOHDPOUFYU Q 

    5IF >JIO@IO5DI?JR *%-BUUSJCVUFNVTUSFUVSOUIF 8JOEPX1SPYZ Q PCKFDUPGUIF JGSBNF Q FMFNFOUT OFTUFECSPXTJOH
    DPOUFYU Q 

    )FSFJTBOFYBNQMFPGBQBHFVTJOHBO JGSBNF Q UPJODMVEFBEWFSUJTJOHGSPNBOBEWFSUJTJOHCSPLFS

    JGSBNFTSDIUUQBETFYBNQMFDPN DVTUPNFSJEBNQGPSNBUCBOOFS
    XJEUIIFJHIUJGSBNF

       0B? @H=@? ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    &NCFEEFEDPOUFOU Q 
    *OUFSBDUJWFDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF FNCFEEFEDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    TSD Q
    UZQF Q
    XJEUI Q
    IFJHIU Q
    "OZPUIFSBUUSJCVUFUIBUIBTOPOBNFTQBDF TFFQSPTF
    

    +)CHN?L@;=?

    JOUFSGBDF &2+*#H=@?#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH TSD
    BUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH XJEUI

    
    BUUSJCVUF%0.4USJOH IFJHIU
    ^
    %FQFOEJOHPOUIFUZQFPGDPOUFOUJOTUBOUJBUFECZUIF FNCFE Q FMFNFOU UIFOPEFNBZBMTPTVQQPSUPUIFS
    JOUFSGBDFT

    5IF FNCFE Q FMFNFOU SFQSFTFOUT Q BOJOUFHSBUJPOQPJOUGPSBOFYUFSOBM UZQJDBMMZOPO)5.-


    BQQMJDBUJPOPS
    JOUFSBDUJWFDPOUFOU

    5IF NM> BUUSJCVUFHJWFTUIFBEESFTTPGUIFSFTPVSDFCFJOHFNCFEEFE5IFBUUSJCVUF JGQSFTFOU NVTUDPOUBJOB WBMJE


    OPOFNQUZ63- Q 

    5IF OTK@ BUUSJCVUF JGQSFTFOU HJWFTUIF .*.&UZQF Q CZXIJDIUIFQMVHJOUPJOTUBOUJBUFJTTFMFDUFE5IFWBMVFNVTUCF


    B WBMJE.*.&UZQF Q *GCPUIUIF UZQF Q BUUSJCVUFBOEUIF TSD Q BUUSJCVUFBSFQSFTFOU UIFOUIF UZQF Q BUUSJCVUF
    NVTUTQFDJGZUIFTBNFUZQFBTUIF FYQMJDJU$POUFOU5ZQFNFUBEBUB Q PGUIFSFTPVSDFHJWFOCZUIF TSD Q BUUSJCVUF

    8IFOUIFFMFNFOUJTDSFBUFEXJUIOFJUIFSB TSD Q BUUSJCVUFOPSB UZQF Q BUUSJCVUF BOEXIFOBUUSJCVUFTBSFSFNPWFE


    TVDIUIBUOFJUIFSBUUSJCVUFJTQSFTFOUPOUIFFMFNFOUBOZNPSF BOEXIFOUIFFMFNFOUIBTB NFEJBFMFNFOU Q
    BODFTUPS BOEXIFOUIFFMFNFOUIBTBOBODFTUPS PCKFDU Q FMFNFOUUIBUJT =>C TIPXJOHJUT GBMMCBDLDPOUFOU Q BOZ
    QMVHJOTJOTUBOUJBUFEGPSUIFFMFNFOUNVTUCFSFNPWFE BOEUIF FNCFE Q FMFNFOUSFQSFTFOUTOPUIJOH

    *GFJUIFS

    Ǭ UIF TBOECPYFEQMVHJOTCSPXTJOHDPOUFYUЙBH Q XBTTFUPOUIF CSPXTJOHDPOUFYU Q GPSXIJDIUIF FNCFE Q


    FMFNFOUT %PDVNFOU Q JTUIF BDUJWFEPDVNFOU Q XIFOUIBU %PDVNFOU Q XBTDSFBUFE PS

    Ǭ UIF FNCFE Q FMFNFOUT %PDVNFOU Q XBTQBSTFEGSPNBSFTPVSDFXIPTF TOJЗFEUZQF Q BTEFUFSNJOFEEVSJOH
    OBWJHBUJPO Q JT UFYUIUNMTBOECPYFE Q

    UIFOUIFVTFSBHFOUNVTUSFOEFSUIF FNCFE Q FMFNFOUJOBNBOOFSUIBUDPOWFZTUIBUUIF QMVHJO Q XBTEJTBCMFE


    5IFVTFSBHFOUNBZPЗFSUIFVTFSUIFPQUJPOUPPWFSSJEFUIFTBOECPYBOEJOTUBOUJBUFUIF QMVHJO Q BOZXBZJGUIFVTFS
    JOWPLFTTVDIBOPQUJPO UIFVTFSBHFOUNVTUBDUBTJGUIFDPOEJUJPOTBCPWFEJEOPUBQQMZGPSUIFQVSQPTFTPGUIJT
    FMFNFOU

    [3;LHCHA ,EN@BGL:K>=BL:;E>=BGL:G=;HQ>=;KHPLBG@<HGM>QML;><:NL>MA>RFB@AMGHMAHGHKMA>
    K>LMKB<MBHGLBFIHL>=;RMA>L:G=;HQ> @ MA>RFB@AM:EEHPL<KBIMBG@>O>GPA>GL<KBIMBG@BGMA>L:G=;HQ
    BL=BL:;E>= 1L>K:@>GMLLAHNE=<HGO>RMA>=:G@>KH?HO>KKB=BG@MA>L:G=;HQMHMA>NL>KB?:GHIMBHGMH
    =HLHBLIKHOB=>=

    "O FNCFE Q FMFNFOUJTTBJEUPCF JIN?HNC;FFS;=NCP? XIFOUIFGPMMPXJOHDPOEJUJPOTBSFBMMNFUTJNVMUBOFPVTMZ

    Ǭ 5IFFMFNFOUJT JOB %PDVNFOU Q 


    Ǭ 5IFFMFNFOUT %PDVNFOU Q JT GVMMZBDUJWF Q 
    Ǭ 5IFFMFNFOUIBTFJUIFSB TSD Q BUUSJCVUFTFUPSB UZQF Q BUUSJCVUFTFU PSCPUI
    
    Ǭ 5IFFMFNFOUT TSD Q BUUSJCVUFJTFJUIFSBCTFOUPSJUTWBMVFJTUIFFNQUZTUSJOH
    Ǭ 5IFFMFNFOUJTOPUJOB %PDVNFOU Q XIPTF CSPXTJOHDPOUFYU Q IBEUIF TBOECPYFEQMVHJOTCSPXTJOHDPOUFYU
    ЙBH Q TFUXIFOUIF %PDVNFOU Q XBTDSFBUFE VOMFTTUIJTIBTCFFOPWFSSJEEFOBTEFTDSJCFEBCPWF
    
    Ǭ 5IFFMFNFOUT %PDVNFOU Q XBTOPUQBSTFEGSPNBSFTPVSDFXIPTF TOJЗFEUZQF Q BTEFUFSNJOFEEVSJOH
    OBWJHBUJPO Q JT UFYUIUNMTBOECPYFE Q VOMFTTUIJTIBTCFFOPWFSSJEEFOBTEFTDSJCFEBCPWF
    
    Ǭ 5IFFMFNFOUJTOPUBEFTDFOEBOUPGB NFEJBFMFNFOU Q 
    Ǭ 5IFFMFNFOUJTOPUBEFTDFOEBOUPGBO PCKFDU Q FMFNFOUUIBUJTOPUTIPXJOHJUT GBMMCBDLDPOUFOU Q 

    8IFOFWFSBO FNCFE Q FMFNFOUUIBUXBTOPU QPUFOUJBMMZBDUJWF Q CFDPNFT QPUFOUJBMMZBDUJWF Q BOEXIFOFWFSB
    QPUFOUJBMMZBDUJWF Q FNCFE Q FMFNFOUT TSD Q BUUSJCVUFJTTFU DIBOHFE PSSFNPWFE BOEXIFOFWFSB QPUFOUJBMMZ
    BDUJWF Q FNCFE Q FMFNFOUT UZQF Q BUUSJCVUFJTTFU DIBOHFE PSSFNPWFE UIFBQQSPQSJBUFTFUPGTUFQTGSPNUIF
    GPMMPXJOHJTUIFOBQQMJFE
    K
    X %@NB??F?G?HNB;M; NM> ;NNLC<ON?M?N
    5IFVTFSBHFOUNVTU SFTPMWF Q UIFWBMVFPGUIFFMFNFOUT TSD Q BUUSJCVUF SFMBUJWFUPUIFFMFNFOU*GUIBUJT
    TVDDFTTGVM UIFVTFSBHFOUTIPVME GFUDI Q UIFSFTVMUJOH BCTPMVUF63- Q GSPNUIFFMFNFOUT CSPXTJOHDPOUFYU
    TDPQFPSJHJO Q JGJUIBTPOF5IF UBTL Q UIBUJT RVFVFE Q CZUIF OFUXPSLJOHUBTLTPVSDF Q PODFUIF
    SFTPVSDFIBTCFFO GFUDIFE Q NVTUИOEBOEJOTUBOUJBUFBOBQQSPQSJBUF QMVHJO Q CBTFEPOUIF DPOUFOUT
    UZQF Q BOEIBOEUIBU QMVHJO Q UIFDPOUFOUPGUIFSFTPVSDF SFQMBDJOHBOZQSFWJPVTMZJOTUBOUJBUFEQMVHJOGPS
    UIFFMFNFOU

    'FUDIJOHUIFSFTPVSDFNVTU EFMBZUIFMPBEFWFOU Q PGUIFFMFNFOUTEPDVNFOU

    
    K
    X %@NB??F?G?HNB;MHI NM> ;NNLC<ON?M?N
    5IFVTFSBHFOUTIPVMEИOEBOEJOTUBOUJBUFBOBQQSPQSJBUF QMVHJO Q CBTFEPOUIFWBMVFPGUIF UZQF Q
    BUUSJCVUF

    8IFOFWFSBO FNCFE Q FMFNFOUUIBUXBT QPUFOUJBMMZBDUJWF Q TUPQTCFJOH QPUFOUJBMMZBDUJWF Q BOZ QMVHJO Q UIBU
    IBECFFOJOTUBOUJBUFEGPSUIBUFMFNFOUNVTUCFVOMPBEFE

    *HM> 0A> >F;>= I >E>F>GMBLNG:Z><M>=;RMA>//=BLIE:RIKHI>KMR 0A>L>E><M>=IEN@BGBL


    BGLM:GMB:M>=>O>GB?MA>>E>F>GMBLAB==>GPBMA:=BLIE:RGHG>//LMRE>

    5IF NSJ?I@NB?=IHN?HN CFJOHFNCFEEFEJTEFИOFEBTGPMMPXT

     *GUIFFMFNFOUIBTB UZQF Q BUUSJCVUF BOEUIBUBUUSJCVUFTWBMVFJTBUZQFUIBUB QMVHJO Q TVQQPSUT UIFOUIF


    WBMVFPGUIF UZQF Q BUUSJCVUFJTUIF DPOUFOUTUZQF Q 

     0UIFSXJTF JGUIF QBUI Q DPNQPOFOUPGUIF 63- Q PGUIFTQFDJИFESFTPVSDF BGUFSBOZSFEJSFDUT


    NBUDIFT
    BQBUUFSOUIBUB QMVHJO Q TVQQPSUT UIFOUIF DPOUFOUTUZQF Q JTUIFUZQFUIBUUIBUQMVHJODBOIBOEMF

    'PSFYBNQMF BQMVHJONJHIUTBZUIBUJUDBOIBOEMFSFTPVSDFTXJUI QBUI Q DPNQPOFOUTUIBUFOE


    XJUIUIFGPVSDIBSBDUFSTUSJOHTXG

     0UIFSXJTF JGUIFTQFDJИFESFTPVSDFIBT FYQMJDJU$POUFOU5ZQFNFUBEBUB Q UIFOUIBUJTUIF DPOUFOUT


    UZQF Q 

     0UIFSXJTF UIFDPOUFOUIBTOPUZQFBOEUIFSFDBOCFOPBQQSPQSJBUF QMVHJO Q GPSJU

    5IF FNCFE Q FMFNFOUIBTOP GBMMCBDLDPOUFOU Q *GUIFVTFSBHFOUDBOUИOEBTVJUBCMFQMVHJO UIFOUIFVTFSBHFOU


    NVTUVTFBEFGBVMUQMVHJO 5IJTEFGBVMUDPVMECFBTTJNQMFBTTBZJOH6OTVQQPSUFE'PSNBU

    8IFUIFSUIFSFTPVSDFJTGFUDIFETVDDFTTGVMMZPSOPU FHXIFUIFSUIFSFTQPOTFDPEFXBTBYYDPEF PSFRVJWBMFOU Q

    NVTUCFJHOPSFEXIFOEFUFSNJOJOHUIFSFTPVSDFTUZQFBOEXIFOIBOEJOHUIFSFTPVSDFUPUIFQMVHJO

    *HM> 0ABL:EEHPLL>KO>KLMHK>MNKG=:M:?HKIEN@BGL>O>GPBMA>KKHKK>LIHGL>L> @ $00,


    %GM>KG:E/>KO>K!KKHK<H=>L<:GLMBEE<HGM:BGIEN@BG=:M:

    "OZOBNFTQBDFMFTTBUUSJCVUFPUIFSUIBO OBNF Q BMJHO Q ITQBDF Q BOE WTQBDF Q NBZCFTQFDJИFEPOUIF
    FNCFE Q FMFNFOU TPMPOHBTJUTOBNFJT 9.-DPNQBUJCMF Q BOEDPOUBJOTOPDIBSBDUFSTJOUIFSBOHF6 UP
    6 " -"5*/$"1*5"--&55&3"UP-"5*/$"1*5"--&55&3;
    5IFTFBUUSJCVUFTBSFUIFOQBTTFEBTQBSBNFUFSTUPUIF
    QMVHJO Q 

    *HM> EE:MMKB;NM>LBG $0)(=H<NF>GML I @>MEHP>K<:L>=:NMHF:MB<:EER LHMA>K>LMKB<MBHGHG


    NII>K<:L>E>MM>KL=H>LGM:Z><MLN<A=H<NF>GML

    *HM> 0A>?HNK>Q<>IMBHGL:K>MH>Q<EN=>E>@:<R:MMKB;NM>LMA:MA:O>LB=>
    >Z><ML;>RHG=CNLM
    L>G=BG@I:K:F>M>KLMHMA> IEN@BG I

    5IFVTFSBHFOUTIPVMEQBTTUIFOBNFTBOEWBMVFTPGBMMUIFBUUSJCVUFTPGUIF FNCFE Q FMFNFOUUIBUIBWFOP


    OBNFTQBDFUPUIF QMVHJO Q VTFE XIFOJUJTJOTUBOUJBUFE

    *GUIF QMVHJO Q JOTUBOUJBUFEGPSUIF FNCFE Q FMFNFOUTVQQPSUTBTDSJQUBCMFJOUFSGBDF UIF )5.-&NCFE&MFNFOU Q PCKFDU
    SFQSFTFOUJOHUIFFMFNFOUTIPVMEFYQPTFUIBUJOUFSGBDFXIJMFUIFFMFNFOUJTJOTUBOUJBUFE

    5IF FNCFE Q FMFNFOUTVQQPSUT EJNFOTJPOBUUSJCVUFT Q 

    5IF*%-BUUSJCVUFT NM> BOE OTK@ FBDINVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    )FSFTBXBZUPFNCFEBSFTPVSDFUIBUSFRVJSFTBQSPQSJFUBSZQMVHJO MJLF'MBTI

    FNCFETSDDBUHBNFTXG

    *GUIFVTFSEPFTOPUIBWFUIFQMVHJO GPSFYBNQMFJGUIFQMVHJOWFOEPSEPFTOUTVQQPSUUIFVTFSTQMBUGPSN

    UIFOUIFVTFSXJMMCFVOBCMFUPVTFUIFSFTPVSDF

    5PQBTTUIFQMVHJOBQBSBNFUFSRVBMJUZXJUIUIFWBMVFIJHI BOBUUSJCVUFDBOCFTQFDJИFE

    FNCFETSDDBUHBNFTXGRVBMJUZIJHI

    
    5IJTXPVMECFFRVJWBMFOUUPUIFGPMMPXJOH XIFOVTJOHBO PCKFDU Q FMFNFOUJOTUFBE

    PCKFDUEBUBDBUHBNFTXG
    QBSBNOBNFRVBMJUZWBMVFIJHI
    PCKFDU

       0B? J=E@>O ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    &NCFEEFEDPOUFOU Q 
    *GUIFFMFNFOUIBTB VTFNBQ Q BUUSJCVUF *OUFSBDUJWFDPOUFOU Q 
    -JTUFE Q TVCNJUUBCMF Q GPSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF FNCFEEFEDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    ;FSPPSNPSF QBSBN Q FMFNFOUT UIFO USBOTQBSFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    EBUB Q
    UZQF Q
    OBNF Q
    VTFNBQ Q
    GPSN Q
    XJEUI Q
    IFJHIU Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*-=E@>O#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH EBUB
    BUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUF%0.4USJOH VTF.BQ
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    BUUSJCVUF%0.4USJOH XJEUI
    BUUSJCVUF%0.4USJOH IFJHIU
    SFBEPOMZBUUSJCVUF%PDVNFOU DPOUFOU%PDVNFOU
    SFBEPOMZBUUSJCVUF 8JOEPX1SPYZ DPOUFOU8JOEPX

    SFBEPOMZBUUSJCVUFCPPMFBO XJMM7BMJEBUF
    SFBEPOMZBUUSJCVUF 7BMJEJUZ4UBUF WBMJEJUZ
    SFBEPOMZBUUSJCVUF%0.4USJOH WBMJEBUJPO.FTTBHF
    CPPMFBO DIFDL7BMJEJUZ
    
    WPJE TFU$VTUPN7BMJEJUZ JO%0.4USJOHFSSPS
    
    ^
    %FQFOEJOHPOUIFUZQFPGDPOUFOUJOTUBOUJBUFECZUIF PCKFDU Q FMFNFOU UIFOPEFBMTPTVQQPSUTPUIFS
    JOUFSGBDFT

    5IF PCKFDU Q FMFNFOUDBOSFQSFTFOUBOFYUFSOBMSFTPVSDF XIJDI EFQFOEJOHPOUIFUZQFPGUIFSFTPVSDF XJMMFJUIFS


    CFUSFBUFEBTBOJNBHF BTB OFTUFECSPXTJOHDPOUFYU Q PSBTBOFYUFSOBMSFTPVSDFUPCFQSPDFTTFECZB QMVHJO Q 

    5IF ?<O< BUUSJCVUF JGQSFTFOU TQFDJИFTUIFBEESFTTPGUIFSFTPVSDF*GQSFTFOU UIFBUUSJCVUFNVTUCFB WBMJEOPO


    FNQUZ63- Q 

    5IF OTK@ BUUSJCVUF JGQSFTFOU TQFDJИFTUIFUZQFPGUIFSFTPVSDF*GQSFTFOU UIFBUUSJCVUFNVTUCFB WBMJE.*.&UZQF Q 

    "UMFBTUPOFPGFJUIFSUIF EBUB Q BUUSJCVUFPSUIF UZQF Q BUUSJCVUFNVTUCFQSFTFOU

    5IF I<H@ BUUSJCVUF JGQSFTFOU NVTUCFB WBMJECSPXTJOHDPOUFYUOBNF Q 5IFHJWFOWBMVFJTVTFEUPOBNFUIF OFTUFE


    CSPXTJOHDPOUFYU Q JGBQQMJDBCMF

    
    8IFOUIFFMFNFOUJTDSFBUFE XIFOJUJTQPQQFEPЗUIF TUBDLPGPQFOFMFNFOUT Q PGBO )5.-QBSTFS Q PS 9.-
    QBSTFS Q BOETVCTFRVFOUMZXIFOFWFSUIFFMFNFOUJT JOTFSUFEJOUPBEPDVNFOU Q PS SFNPWFEGSPNBEPDVNFOU Q 
    BOEXIFOFWFSUIFFMFNFOUT %PDVNFOU Q DIBOHFTXIFUIFSJUJT GVMMZBDUJWF Q BOEXIFOFWFSBOBODFTUPS PCKFDU Q
    FMFNFOUDIBOHFTUPPSGSPNTIPXJOHJUT GBMMCBDLDPOUFOU Q BOEXIFOFWFSUIFFMFNFOUT DMBTTJE Q BUUSJCVUFJTTFU
    DIBOHFE PSSFNPWFEBOE XIFOJUT DMBTTJE Q BUUSJCVUFJTOPUQSFTFOU XIFOFWFSJUT EBUB Q BUUSJCVUFJTTFU
    DIBOHFE PSSFNPWFEBOE XIFOOFJUIFSJUT DMBTTJE Q BUUSJCVUFOPSJUT EBUB Q BUUSJCVUFBSFQSFTFOU XIFOFWFSJUT
    UZQF Q BUUSJCVUFJTTFU DIBOHFE PSSFNPWFEUIFVTFSBHFOUNVTU RVFVFBUBTL Q UPSVOUIFGPMMPXJOHTUFQTUP
    SF
    EFUFSNJOFXIBUUIF PCKFDU Q FMFNFOUSFQSFTFOUT5IF UBTLTPVSDF Q GPSUIJT UBTL Q JTUIF %0.NBOJQVMBUJPO
    UBTLTPVSDF Q 

     *GUIFVTFSIBTJOEJDBUFEBQSFGFSFODFUIBUUIJT PCKFDU Q FMFNFOUT GBMMCBDLDPOUFOU Q CFTIPXOJOTUFBEPG


    UIFFMFNFOUTVTVBMCFIBWJPS UIFOKVNQUPUIFMBTUTUFQJOUIFPWFSBMMTFUPGTUFQT GBMMCBDL
    

    *HM> "HK>Q:FIE> :NL>K<HNE=:LD?HKMA>>E>F>GML ?:EE;:<D<HGM>GM I MH;>LAHPG


    ;><:NL>MA:M<HGM>GMNL>L:?HKF:MMA:MMA>NL>K[G=LFHK>:<<>LLB;E>

     *GUIFFMFNFOUIBTBOBODFTUPS NFEJBFMFNFOU Q PSIBTBOBODFTUPS PCKFDU Q FMFNFOUUIBUJT =>C TIPXJOH


    JUT GBMMCBDLDPOUFOU Q PSJGUIFFMFNFOUJTOPU JOB %PDVNFOU Q XJUIB CSPXTJOHDPOUFYU Q PSJGUIF
    FMFNFOUT %PDVNFOU Q JTOPU GVMMZBDUJWF Q PSJGUIFFMFNFOUJTTUJMMJOUIF TUBDLPGPQFOFMFNFOUT Q PGBO
    )5.-QBSTFS Q PS 9.-QBSTFS Q UIFOKVNQUPUIFMBTUTUFQJOUIFPWFSBMMTFUPGTUFQT GBMMCBDL
    

     *GUIF DMBTTJE Q BUUSJCVUFJTQSFTFOU BOEIBTBWBMVFUIBUJTOUUIFFNQUZTUSJOH UIFOJGUIFVTFSBHFOUDBO


    ИOEB QMVHJO Q TVJUBCMFBDDPSEJOHUPUIFWBMVFPGUIF DMBTTJE Q BUUSJCVUF BOE QMVHJOTBSFOUCFJOH
    TBOECPYFE Q UIFOUIBU QMVHJO Q TIPVMECFVTFE Q BOEUIFWBMVFPGUIF EBUB Q BUUSJCVUF JGBOZ TIPVME
    CFQBTTFEUPUIF QMVHJO Q *GOPTVJUBCMF QMVHJO Q DBOCFGPVOE PSJGUIF QMVHJO Q SFQPSUTBOFSSPS KVNQUP
    UIFMBTUTUFQJOUIFPWFSBMMTFUPGTUFQT GBMMCBDL
    

     *GUIF EBUB Q BUUSJCVUFJTQSFTFOUBOEJUTWBMVFJTOPUUIFFNQUZTUSJOH UIFO

     *GUIF UZQF Q BUUSJCVUFJTQSFTFOUBOEJUTWBMVFJTOPUBUZQFUIBUUIFVTFSBHFOUTVQQPSUT BOEJT


    OPUBUZQFUIBUUIFVTFSBHFOUDBOИOEB QMVHJO Q GPS UIFOUIFVTFSBHFOUNBZKVNQUPUIFMBTU
    TUFQJOUIFPWFSBMMTFUPGTUFQT GBMMCBDL
    XJUIPVUGFUDIJOHUIFDPOUFOUUPFYBNJOFJUTSFBMUZQF

     3FTPMWF Q UIF 63- Q TQFDJИFECZUIF EBUB Q BUUSJCVUF SFMBUJWFUPUIFFMFNFOU

     *GUIBUGBJMFE ИSFBTJNQMFFWFOU Q OBNFE FSSPS BUUIFFMFNFOU UIFOKVNQUPUIFMBTUTUFQJOUIF


    PWFSBMMTFUPGTUFQT GBMMCBDL
    

     'FUDI Q UIFSFTVMUJOH BCTPMVUF63- Q GSPNUIFFMFNFOUT CSPXTJOHDPOUFYUTDPQFPSJHJO Q JGJU


    IBTPOF

    'FUDIJOHUIFSFTPVSDFNVTU EFMBZUIFMPBEFWFOU Q PGUIFFMFNFOUTEPDVNFOUVOUJMUIF UBTL Q


    UIBUJT RVFVFE Q CZUIF OFUXPSLJOHUBTLTPVSDF Q PODFUIFSFTPVSDFIBTCFFO GFUDIFE Q
    EFИOFEOFYU
    IBTCFFOSVO

     *GUIFSFTPVSDFJTOPUZFUBWBJMBCMF FHCFDBVTFUIFSFTPVSDFXBTOPUBWBJMBCMFJOUIFDBDIF TP


    UIBUMPBEJOHUIFSFTPVSDFSFRVJSFENBLJOHBSFRVFTUPWFSUIFOFUXPSL
    UIFOKVNQUPUIFMBTUTUFQ
    JOUIFPWFSBMMTFUPGTUFQT GBMMCBDL
    5IF UBTL Q UIBUJT RVFVFE Q CZUIF OFUXPSLJOHUBTL
    TPVSDF Q PODFUIFSFTPVSDFJTBWBJMBCMFNVTUSFTUBSUUIJTBMHPSJUINGSPNUIJTTUFQ3FTPVSDFTDBO
    MPBEJODSFNFOUBMMZVTFSBHFOUTNBZPQUUPDPOTJEFSBSFTPVSDFBWBJMBCMFXIFOFWFSFOPVHIEBUB
    IBTCFFOPCUBJOFEUPCFHJOQSPDFTTJOHUIFSFTPVSDF

     *GUIFMPBEGBJMFE FHUIFSFXBTBO)551FSSPS UIFSFXBTB%/4FSSPS


    ИSFBTJNQMFFWFOU Q
    OBNFE FSSPS BUUIFFMFNFOU UIFOKVNQUPUIFMBTUTUFQJOUIFPWFSBMMTFUPGTUFQT GBMMCBDL
    

     %FUFSNJOFUIF A4B>DA24CH?4 BTGPMMPXT

     -FUUIF A4B>DA24CH?4 CFVOLOPXO

     -FUUIF B=8O43 ЙBHCFGBMTF

     *GUIFVTFSBHFOUJTDPOИHVSFEUPTUSJDUMZPCFZ$POUFOU5ZQFIFBEFSTGPSUIJTSFTPVSDF
    BOEUIFSFTPVSDFIBT BTTPDJBUFE$POUFOU5ZQFNFUBEBUB Q UIFOMFUUIF A4B>DA24CH?4
    CFUIFUZQFTQFDJИFEJO UIFSFTPVSDFT$POUFOU5ZQFNFUBEBUB Q BOEBCPSUUIFTF
    TVCTUFQT

    
     *GUIFSFJTB UZQF Q BUUSJCVUFQSFTFOUPOUIF PCKFDU Q FMFNFOU BOEUIBUBUUSJCVUFT
    WBMVFJTOPUBUZQFUIBUUIFVTFSBHFOUTVQQPSUT CVUJU 8B BUZQFUIBUB QMVHJO Q TVQQPSUT
    UIFOMFUUIF A4B>DA24CH?4 CFUIFUZQFTQFDJИFEJOUIBU UZQF Q BUUSJCVUF

     0UIFSXJTF JGUIF A4B>DA24CH?4 JTVOLOPXO BOEUIFSFTPVSDFIBT BTTPDJBUFE$POUFOU


    5ZQFNFUBEBUB Q UIFOMFUUIF A4B>DA24CH?4 CFUIFUZQFTQFDJИFEJO UIFSFTPVSDFT
    $POUFOU5ZQFNFUBEBUB Q 

    *GUIJTSFTVMUTJOUIF A4B>DA24CH?4 CFJOHUFYUQMBJO UIFOMFUUIF A4B>DA24CH?4 CFUIF


    SFTVMUPGBQQMZJOHUIF SVMFTGPSEJTUJOHVTIJOHJGBSFTPVSDFJTUFYUPSCJOBSZ Q UPUIF
    SFTPVSDFJOTUFBE BOEUIFOTFUUIF B=8O43 ЙBHUPUSVF

     *GUIF A4B>DA24CH?4 JTVOLOPXOPSBQQMJDBUJPOPDUFUTUSFBNBUUIJTQPJOUBOEUIFSF


    JTB UZQF Q BUUSJCVUFQSFTFOUPOUIF PCKFDU Q FMFNFOU UIFODIBOHFUIF A4B>DA24CH?4
    UPJOTUFBECFUIFUZQFTQFDJИFEJOUIBU UZQF Q BUUSJCVUF

    0UIFSXJTF JGUIF A4B>DA24CH?4 JTBQQMJDBUJPOPDUFUTUSFBNCVUUIFSFJTOP UZQF Q


    BUUSJCVUFPOUIF PCKFDU Q FMFNFOU UIFODIBOHFUIF A4B>DA24CH?4 UPCFVOLOPXO TP
    UIBUUIFTOJКOHSVMFTJOUIFGPMMPXJOHTUFQTBSFJOWPLFE

     *GUIF A4B>DA24CH?4 JTTUJMMVOLOPXOBUUIJTQPJOU CVUUIF QBUI Q DPNQPOFOUPGUIF


    63- Q PGUIFTQFDJИFESFTPVSDF BGUFSBOZSFEJSFDUT
    NBUDIFTBQBUUFSOUIBUB QMVHJO Q
    TVQQPSUT UIFOMFU A4B>DA24CH?4 CFUIFUZQFUIBUUIBUQMVHJODBOIBOEMF

    'PSFYBNQMF BQMVHJONJHIUTBZUIBUJUDBOIBOEMFSFTPVSDFTXJUI QBUI Q


    DPNQPOFOUTUIBUFOEXJUIUIFGPVSDIBSBDUFSTUSJOHTXG

     *GUIF A4B>DA24CH?4 JTTUJMMVOLOPXO BOEUIF B=8O43 ЙBHJTGBMTF UIFODIBOHFUIF


    A4B>DA24CH?4 UPJOTUFBECFUIF TOJЗFEUZQFPGUIFSFTPVSDF Q 

    0UIFSXJTF JGUIF A4B>DA24CH?4 JTTUJMMVOLOPXO BOEUIF B=8O43 ЙBHJT CAD4 UIFODIBOHF


    UIF A4B>DA24CH?4 CBDLUP UFYUQMBJO

     )BOEMFUIFDPOUFOUBTHJWFOCZUIFИSTUPGUIFGPMMPXJOHDBTFTUIBUNBUDIFT

    X %@NB? K>LHNK<>MRI> CMHIN;NSJ?NB;NNB?OM?L;A?HNMOJJILNM


    <ONCN BL ;NSJ?NB;N
    ; JFOACH J MOJJILNM
    *G QMVHJOTBSFCFJOHTBOECPYFE Q KVNQUPUIFMBTUTUFQJOUIFPWFSBMMTFUPGTUFQT
    GBMMCBDL
    

    0UIFSXJTF UIFVTFSBHFOUTIPVME VTFUIFQMVHJOUIBUTVQQPSUT A4B>DA24CH?4 Q BOEQBTT


    UIFDPOUFOUPGUIFSFTPVSDFUPUIBU QMVHJO Q *GUIF QMVHJO Q SFQPSUTBOFSSPS UIFOKVNQ
    UPUIFMBTUTUFQJOUIFPWFSBMMTFUPGTUFQT GBMMCBDL
    
    J
    X %@NB? K>LHNK<>MRI> CM;H 4)()%)!NSJ?
    ILC@NB? K>LHNK<>MRI> >I?MHINMN;LN
    QCNBDH<B@
    5IF PCKFDU Q FMFNFOUNVTUCFBTTPDJBUFEXJUIBOFXMZDSFBUFE OFTUFECSPXTJOH
    DPOUFYU Q JGJUEPFTOPUBMSFBEZIBWFPOF

    *GUIF 63- Q PGUIFHJWFOSFTPVSDFJTOPU BCPVUCMBOL Q UIFFMFNFOUT OFTUFECSPXTJOH


    DPOUFYU Q NVTUUIFOCF OBWJHBUFE Q UPUIBUSFTPVSDF XJUI SFQMBDFNFOUFOBCMFE Q
    BOEXJUIUIF PCKFDU Q FMFNFOUTEPDVNFOUT CSPXTJOHDPOUFYU Q BTUIF TPVSDF
    CSPXTJOHDPOUFYU Q  5IF EBUB Q BUUSJCVUFPGUIF PCKFDU Q FMFNFOUEPFTOUHFU
    VQEBUFEJGUIFCSPXTJOHDPOUFYUHFUTGVSUIFSOBWJHBUFEUPPUIFSMPDBUJPOT

    *GUIF 63- Q PGUIFHJWFOSFTPVSDF 8B BCPVUCMBOL Q UIFO JOTUFBE UIFVTFSBHFOUNVTU


    RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BUUIF PCKFDU Q FMFNFOU

    5IF PCKFDU Q FMFNFOU SFQSFTFOUT Q UIF OFTUFECSPXTJOHDPOUFYU Q 

    *GUIF OBNF Q BUUSJCVUFJTQSFTFOU UIF CSPXTJOHDPOUFYUOBNF Q NVTUCFTFUUPUIF


    WBMVFPGUIJTBUUSJCVUFPUIFSXJTF UIF CSPXTJOHDPOUFYUOBNF Q NVTUCFTFUUPUIF
    FNQUZTUSJOH

    *HM> %MLIHLLB;E>MA:MMA> G:OB@:MBHG I H?MA> ;KHPLBG@<HGM>QM I


    PBEE:<MN:EERH;M:BGMA>K>LHNK<>?KHF:=BZ>K>GM :IIEB<:MBHG<:<A> I
    !O>GB?MA>K>LHNK<>BLMA>G?HNG=MHA:O>:=BZ>K>GMMRI> BMBLLMBEE

    
    NL>=:LI:KMH?: G>LM>=;KHPLBG@<HGM>QM I MABL:E@HKBMAF=H>LGM
    K>LM:KMPBMAMA>G>PK>LHNK<>

    X %@NB? K>LHNK<>MRI> MN;LNMQCNBDH<B@


    ;H>MOJJILN@ILCG;A?MB;MHIN<??H
    >CM;<F?>
    "QQMZUIF JNBHFTOJКOH Q SVMFTUPEFUFSNJOFUIFUZQFPGUIFJNBHF

    5IF PCKFDU Q FMFNFOU SFQSFTFOUT Q UIFTQFDJИFEJNBHF5IFJNBHFJTOPUB OFTUFE


    CSPXTJOHDPOUFYU Q 

    *GUIFJNBHFDBOOPUCFSFOEFSFE FHCFDBVTFJUJTNBMGPSNFEPSJOBOVOTVQQPSUFE
    GPSNBU KVNQUPUIFMBTUTUFQJOUIFPWFSBMMTFUPGTUFQT GBMMCBDL
    

    X +NB?LQCM?
    5IFHJWFO A4B>DA24CH?4 JTOPUTVQQPSUFE+VNQUPUIFMBTUTUFQJOUIFPWFSBMMTFUPGTUFQT
    GBMMCBDL
    

     5IFFMFNFOUTDPOUFOUTBSFOPUQBSUPGXIBUUIF PCKFDU Q FMFNFOUSFQSFTFOUT

     0ODFUIFSFTPVSDFJTDPNQMFUFMZMPBEFE RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BU


    UIFFMFNFOU

    5IF UBTLTPVSDF Q GPSUIJTUBTLJTUIF %0.NBOJQVMBUJPOUBTLTPVSDF Q 

     *GUIF EBUB Q BUUSJCVUFJTBCTFOUCVUUIF UZQF Q BUUSJCVUFJTQSFTFOU QMVHJOTBSFOUCFJOHTBOECPYFE Q


    BOEUIFVTFSBHFOUDBOИOEB QMVHJO Q TVJUBCMFBDDPSEJOHUPUIFWBMVFPGUIF UZQF Q BUUSJCVUF UIFOUIBU
    QMVHJO Q TIPVMECFVTFE Q *GOPTVJUBCMF QMVHJO Q DBOCFGPVOE PSJGUIF QMVHJO Q SFQPSUTBOFSSPS KVNQUP
    UIFOFYUTUFQ GBMMCBDL
    

     'BMMCBDL
    5IF PCKFDU Q FMFNFOU SFQSFTFOUT Q UIFFMFNFOUTDIJMESFO JHOPSJOHBOZMFBEJOH QBSBN Q
    FMFNFOUDIJMESFO5IJTJTUIFFMFNFOUT GBMMCBDLDPOUFOU Q *GUIFFMFNFOUIBTBOJOTUBOUJBUFE QMVHJO Q UIFO
    VOMPBEJU

    8IFOUIFBMHPSJUINBCPWFJOTUBOUJBUFTB QMVHJO Q UIFVTFSBHFOUTIPVMEQBTTUPUIF QMVHJO Q VTFEUIFOBNFTBOE


    WBMVFTPGBMMUIFBUUSJCVUFTPOUIFFMFNFOU JOUIFPSEFSUIFZXFSFBEEFEUPUIFFMFNFOU XJUIUIFBUUSJCVUFTBEEFECZ
    UIFQBSTFSCFJOHPSEFSFEJOTPVSDFPSEFS GPMMPXFECZBQBSBNFUFSOBNFE1"3".XIPTFWBMVFJTOVMM GPMMPXFECZBMM
    UIFOBNFTBOEWBMVFTPG QBSBNFUFST Q HJWFOCZ QBSBN Q FMFNFOUTUIBUBSFDIJMESFOPGUIF PCKFDU Q FMFNFOU JO
    USFFPSEFS Q *GUIF QMVHJO Q TVQQPSUTBTDSJQUBCMFJOUFSGBDF UIF )5.-0CKFDU&MFNFOU Q PCKFDUSFQSFTFOUJOHUIF
    FMFNFOUTIPVMEFYQPTFUIBUJOUFSGBDF5IF PCKFDU Q FMFNFOU SFQSFTFOUT Q UIF QMVHJO Q 5IF QMVHJO Q JTOPUB
    OFTUFE CSPXTJOHDPOUFYU Q 

    *GFJUIFS

    Ǭ UIF TBOECPYFEQMVHJOTCSPXTJOHDPOUFYUЙBH Q XBTTFUPOUIF PCKFDU Q FMFNFOUT %PDVNFOU Q T CSPXTJOH
    DPOUFYU Q XIFOUIF %PDVNFOU Q XBTDSFBUFE PS

    Ǭ UIF PCKFDU Q FMFNFOUT %PDVNFOU Q XBTQBSTFEGSPNBSFTPVSDFXIPTF TOJЗFEUZQF Q BTEFUFSNJOFE
    EVSJOH OBWJHBUJPO Q JT UFYUIUNMTBOECPYFE Q

    UIFOUIFTUFQTBCPWFNVTUBMXBZTBDUBTJGUIFZIBEGBJMFEUPИOEB QMVHJO Q FWFOJGPOFXPVMEPUIFSXJTFIBWFCFFO


    VTFE

    *HM> 0A>:;HO>:E@HKBMAFBLBG=>I>G=>GMH?//IKHI>KMB>LBG<EN=BG@=BLIE:R HO>K\HP :G=


    OBLB;BEBMR "HK>Q:FIE> BMKNGL>O>GB?MA>>E>F>GMBLAB==>GPBMA:=BLIE:RGHG>//LMRE> :G=
    =H>LGHMKNG :@:BG B?MA>>E>F>GMLOBLB;BEBMR<A:G@>L

    %VFUPUIFBMHPSJUINBCPWF UIFDPOUFOUTPG PCKFDU Q FMFNFOUTBDUBT GBMMCBDLDPOUFOU Q VTFEPOMZXIFOSFGFSFODFE


    SFTPVSDFTDBOUCFTIPXO FHCFDBVTFJUSFUVSOFEBFSSPS
    5IJTBMMPXTNVMUJQMF PCKFDU Q FMFNFOUTUPCFOFTUFE
    JOTJEFFBDIPUIFS UBSHFUJOHNVMUJQMFVTFSBHFOUTXJUIEJЗFSFOUDBQBCJMJUJFT XJUIUIFVTFSBHFOUQJDLJOHUIFИSTUPOFJU
    TVQQPSUT

    8IFOFWFSUIF OBNF Q BUUSJCVUFJTTFU JGUIF PCKFDU Q FMFNFOUIBTBOFTUFE CSPXTJOHDPOUFYU Q JUT OBNF Q NVTU
    CFDIBOHFEUPUIFOFXWBMVF*GUIFBUUSJCVUFJTSFNPWFE JGUIF PCKFDU Q FMFNFOUIBTB CSPXTJOHDPOUFYU Q UIF
    CSPXTJOHDPOUFYUOBNF Q NVTUCFTFUUPUIFFNQUZTUSJOH

    5IF VTFNBQ Q BUUSJCVUF JGQSFTFOUXIJMFUIF PCKFDU Q FMFNFOUSFQSFTFOUTBOJNBHF DBOJOEJDBUFUIBUUIFPCKFDUIBT


    BOBTTPDJBUFE JNBHFNBQ Q  5IFBUUSJCVUFNVTUCFJHOPSFEJGUIF PCKFDU Q FMFNFOUEPFTOUSFQSFTFOUBOJNBHF

    
    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF PCKFDU Q FMFNFOUXJUIJUT GPSNPXOFS Q 

    IHMNL;CHNP;FC>;NCIH PCKFDU Q FMFNFOUTBSFBMXBZT CBSSFEGSPNDPOTUSBJOUWBMJEBUJPO Q 

    5IF PCKFDU Q FMFNFOUTVQQPSUT EJNFOTJPOBUUSJCVUFT Q 

    5IF*%-BUUSJCVUFT ?<O< OTK@ I<H@ BOE PN@+<K FBDINVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNF
    OBNF

    5IF >JIO@IO"J>PH@IO *%-BUUSJCVUFNVTUSFUVSOUIF %PDVNFOU Q PCKFDUPGUIF BDUJWFEPDVNFOU Q PGUIF PCKFDU Q
    FMFNFOUT OFTUFECSPXTJOHDPOUFYU Q JGJUIBTPOFPUIFSXJTF JUNVTUSFUVSOOVMM

    5IF >JIO@IO5DI?JR *%-BUUSJCVUFNVTUSFUVSOUIF 8JOEPX1SPYZ Q PCKFDUPGUIF PCKFDU Q FMFNFOUT OFTUFECSPXTJOH
    DPOUFYU Q JGJUIBTPOFPUIFSXJTF JUNVTUSFUVSOOVMM

    5IF XJMM7BMJEBUF Q WBMJEJUZ Q BOE WBMJEBUJPO.FTTBHF Q BUUSJCVUFT BOEUIF DIFDL7BMJEJUZ
    Q BOE
    TFU$VTUPN7BMJEJUZ
    Q NFUIPET BSFQBSUPGUIF DPOTUSBJOUWBMJEBUJPO"1* Q 

    *OUIFGPMMPXJOHFYBNQMF B+BWBBQQMFUJTFNCFEEFEJOBQBHFVTJOHUIF PCKFDU Q FMFNFOU (FOFSBMMZ


    TQFBLJOH JUJTCFUUFSUPBWPJEVTJOHBQQMFUTMJLFUIFTFBOEJOTUFBEVTFOBUJWF+BWB4DSJQUBOE)5.-UPQSPWJEFUIF
    GVODUJPOBMJUZ TJODFUIBUXBZUIFBQQMJDBUJPOXJMMXPSLPOBMM8FCCSPXTFSTXJUIPVUSFRVJSJOHBUIJSEQBSUZQMVHJO
    .BOZEFWJDFT FTQFDJBMMZFNCFEEFEEFWJDFT EPOPUTVQQPSUUIJSEQBSUZUFDIOPMPHJFTMJLF+BWB

    GJHVSF
    PCKFDUUZQFBQQMJDBUJPOYKBWBBQQMFU
    QBSBNOBNFDPEFWBMVF.Z+BWB$MBTT
    Q:PVEPOPUIBWF+BWBBWBJMBCMF PSJUJTEJTBCMFEQ
    PCKFDU
    GJHDBQUJPO.Z+BWB$MPDLGJHDBQUJPO
    GJHVSF

    *OUIJTFYBNQMF BO)5.-QBHFJTFNCFEEFEJOBOPUIFSVTJOHUIF PCKFDU Q FMFNFOU

    GJHVSF
    PCKFDUEBUBDMPDLIUNMPCKFDU
    GJHDBQUJPO.Z)5.-$MPDLGJHDBQUJPO
    GJHVSF

    5IFGPMMPXJOHFYBNQMFTIPXTIPXBQMVHJODBOCFVTFEJO)5.- JOUIJTDBTFUIF'MBTIQMVHJO UPTIPXBWJEFP


    ИMF
    'BMMCBDLJTQSPWJEFEGPSVTFSTXIPEPOPUIBWF'MBTIFOBCMFE JOUIJTDBTFVTJOHUIF WJEFP Q FMFNFOUUP
    TIPXUIFWJEFPGPSUIPTFVTJOHVTFSBHFOUTUIBUTVQQPSU WJEFP Q BOEИOBMMZQSPWJEJOHBMJOLUPUIFWJEFPGPS
    UIPTFXIPIBWFOFJUIFS'MBTIOPSB WJEFP Q DBQBCMFCSPXTFS

    Q-PPLBUNZWJEFP
    PCKFDUUZQFBQQMJDBUJPOYTIPDLXBWFGMBTI
    QBSBNOBNFNPWJFWBMVFIUUQWJEFPFYBNQMFDPNMJCSBSZXBUDITXG
    QBSBNOBNFBMMPXGVMMTDSFFOWBMVFUSVF
    QBSBNOBNFGMBTIWBSTWBMVFIUUQWJEFPFYBNQMFDPNWJET
    WJEFPDPOUSPMTTSDIUUQWJEFPFYBNQMFDPNWJET
    BISFGIUUQWJEFPFYBNQMFDPNWJET7JFXWJEFPB
    WJEFP
    PCKFDU
    Q

       0B? K<M<H ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGBO PCKFDU Q FMFNFOU CFGPSFBOZ ЙPXDPOUFOU Q 

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    
    OBNF Q
    WBMVF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*.<M<H#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUF%0.4USJOH WBMVF
    ^

    5IF QBSBN Q FMFNFOUEFИOFTQBSBNFUFSTGPSQMVHJOTJOWPLFECZ PCKFDU Q FMFNFOUT*UEPFTOPU SFQSFTFOU Q


    BOZUIJOHPOJUTPXO

    5IF I<H@ BUUSJCVUFHJWFTUIFOBNFPGUIFQBSBNFUFS

    5IF Q<GP@ BUUSJCVUFHJWFTUIFWBMVFPGUIFQBSBNFUFS

    #PUIBUUSJCVUFTNVTUCFQSFTFOU5IFZNBZIBWFBOZWBMVF

    *GCPUIBUUSJCVUFTBSFQSFTFOU BOEJGUIFQBSFOUFMFNFOUPGUIF QBSBN Q JTBO PCKFDU Q FMFNFOU UIFOUIFFMFNFOU


    EFИOFTB J;L;G?N?L XJUIUIFHJWFOOBNFWBMVFQBJS

    5IF*%-BUUSJCVUFT I<H@ BOE Q<GP@ NVTUCPUI SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IFGPMMPXJOHFYBNQMFTIPXTIPXUIF QBSBN Q FMFNFOUDBOCFVTFEUPQBTTBQBSBNFUFSUPBQMVHJO JOUIJT


    DBTFUIF0%QMVHJO

    %0$5:1&)5.-
    IUNMMBOHFO
    IFBE
    UJUMF0%UFTUQBHFUJUMF
    IFBE
    CPEZ
    Q
    PCKFDUUZQFBQQMJDBUJPOWOEPEBVUP
    K<M<HI<H@J?;A@<OPM@NQ<GP@$GJ<ODIB.JDIO2@SOPM@N
    5IJTQBHFSFRVJSFTUIFVTFPGBQSPQSJFUBSZUFDIOPMPHZ4JODFZPV
    IBWFOPUJOTUBMMFEUIFTPGUXBSFQSPEVDUSFRVJSFEUPWJFXUIJT
    QBHF ZPVTIPVMEUSZWJTJUJOHBOPUIFSTJUFUIBUJOTUFBEVTFTPQFO
    WFOEPSOFVUSBMUFDIOPMPHJFT
    PCKFDU
    TDSJQUTSDPEUFTUKTTDSJQU
    Q
    CPEZ
    IUNM

       0B? QD?@J ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    &NCFEEFEDPOUFOU Q 
    *GUIFFMFNFOUIBTB DPOUSPMT Q BUUSJCVUF *OUFSBDUJWFDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF FNCFEEFEDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    *GUIFFMFNFOUIBTB TSD Q BUUSJCVUF USBOTQBSFOU Q CVUXJUIOP NFEJBFMFNFOU Q EFTDFOEBOUT
    *GUIFFMFNFOUEPFTOPUIBWFB TSD Q BUUSJCVUFPOFPSNPSF TPVSDF Q FMFNFOUT UIFO USBOTQBSFOU Q CVU
    XJUIOP NFEJBFMFNFOU Q EFTDFOEBOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    TSD Q

    
    QPTUFS Q
    QSFMPBE Q
    BVUPQMBZ Q
    MPPQ Q
    DPOUSPMT Q
    XJEUI Q
    IFJHIU Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*4D?@J#G@H@IO  )5.-.FEJB&MFNFOU \


    BUUSJCVUF%0.4USJOH XJEUI
    BUUSJCVUF%0.4USJOH IFJHIU
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH WJEFP8JEUI
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH WJEFP)FJHIU
    BUUSJCVUF%0.4USJOH QPTUFS
    ^

    " WJEFP Q FMFNFOUJTVTFEGPSQMBZJOHWJEFPTPSNPWJFT

    $POUFOUNBZCFQSPWJEFEJOTJEFUIF WJEFP Q FMFNFOU6TFSBHFOUTTIPVMEOPUTIPXUIJTDPOUFOUUPUIFVTFSJUJT


    JOUFOEFEGPSPMEFS8FCCSPXTFSTXIJDIEPOPUTVQQPSU WJEFP Q TPUIBUMFHBDZWJEFPQMVHJOTDBOCFUSJFE PSUPTIPX
    UFYUUPUIFVTFSTPGUIFTFPMEFSCSPXTFSTJOGPSNJOHUIFNPGIPXUPBDDFTTUIFWJEFPDPOUFOUT

    *HM> %GI:KMB<NE:K MABL<HGM>GMBLGHMBGM>G=>=MH:==K>LL:<<>LLB;BEBMR<HG<>KGL 0HF:D>OB=>H


    <HGM>GM:<<>LLB;E>MHMA>;EBG= =>:? :G=MAHL>PBMAHMA>KIARLB<:EHK<H@GBMBO>=BL:;BEBMB>L
    :NMAHKL:K>>QI><M>=MHIKHOB=>:EM>KG:MBO>F>=B:LMK>:FL:G= HKMH>F;>=:<<>LLB;BEBMR:B=L
    LN<A:L<:IMBHGHKLN;MBME>MK:<DL :N=BH=>L<KBIMBHGMK:<DL HKLB@G
    E:G@N:@>HO>KE:RLBGMHMA>BK
    F>=B:LMK>:FL

    5IF WJEFP Q FMFNFOUJTB NFEJBFMFNFOU Q XIPTF NFEJBEBUB Q JTPTUFOTJCMZWJEFPEBUB QPTTJCMZXJUIBTTPDJBUFE
    BVEJPEBUB

    5IF TSD Q QSFMPBE Q BVUPQMBZ Q MPPQ Q BOE DPOUSPMT Q BUUSJCVUFTBSF UIFBUUSJCVUFTDPNNPOUPBMMNFEJB
    FMFNFOUT Q 

    5IF KJNO@M BUUSJCVUFHJWFTUIFBEESFTTPGBOJNBHFИMFUIBUUIFVTFSBHFOUDBOTIPXXIJMFOPWJEFPEBUBJTBWBJMBCMF


    5IFBUUSJCVUF JGQSFTFOU NVTUDPOUBJOB WBMJEOPOFNQUZ63- Q  *GUIFTQFDJИFESFTPVSDFJTUPCFVTFE UIFO XIFOUIF
    FMFNFOUJTDSFBUFEPSXIFOUIF QPTUFS Q BUUSJCVUFJTTFU JGJUTWBMVFJTOPUUIFFNQUZTUSJOH JUTWBMVFNVTUCF
    SFTPMWFE Q SFMBUJWFUPUIFFMFNFOU BOEJGUIBUJTTVDDFTTGVM UIFSFTVMUJOH BCTPMVUF63- Q NVTUCF GFUDIFE Q GSPNUIF
    FMFNFOUT %PDVNFOU Q T PSJHJO Q UIJTNVTU EFMBZUIFMPBEFWFOU Q PGUIFFMFNFOUTEPDVNFOU5IF JIMN?L@L;G? JT
    UIFOUIFJNBHFPCUBJOFEGSPNUIBUSFTPVSDF JGBOZ

    *HM> 0A>BF:@>@BO>G;RMA> IHLM>K I :MMKB;NM> MA> IHLM>K?K:F> I BLBGM>G=>=MH;>:


    K>IK>L>GM:MBO>?K:F>H?MA>OB=>HMRIB<:EERHG>H?MA>[KLMGHG
    ;E:GD?K:F>LMA:M@BO>LMA>NL>K
    :GB=>:H?PA:MMA>OB=>HBLEBD>

    5IF KJNO@M *%-BUUSJCVUFNVTU SFЙFDU Q UIF QPTUFS Q DPOUFOUBUUSJCVUF

    8IFOOPWJEFPEBUBJTBWBJMBCMF UIFFMFNFOUT SFBEZ4UBUF Q BUUSJCVUFJTFJUIFS )"7&@/05)*/( Q PS


    )"7&@.&5"%"5" Q CVUOPWJEFPEBUBIBTZFUCFFOPCUBJOFEBUBMM
    UIF WJEFP Q FMFNFOU SFQSFTFOUT Q FJUIFSUIF
    QPTUFSGSBNF Q PSOPUIJOH

    8IFOB WJEFP Q FMFNFOUJT QBVTFE Q BOEUIF DVSSFOUQMBZCBDLQPTJUJPO Q JTUIFИSTUGSBNFPGWJEFP UIFFMFNFOU
    SFQSFTFOUT Q FJUIFSUIFGSBNFPGWJEFPDPSSFTQPOEJOHUPUIF DVSSFOUQMBZCBDLQPTJUJPO Q PSUIF QPTUFSGSBNF Q BU
    UIFEJTDSFUJPOPGUIFVTFSBHFOU

    /PUXJUITUBOEJOHUIFBCPWF UIF QPTUFSGSBNF Q TIPVMECFQSFGFSSFEPWFSOPUIJOH CVUUIF QPTUFSGSBNF Q TIPVMEOPU


    CFTIPXOBHBJOBGUFSBGSBNFPGWJEFPIBTCFFOTIPXO

    8IFOB WJEFP Q FMFNFOUJT QBVTFE Q BUBOZPUIFSQPTJUJPO UIFFMFNFOU SFQSFTFOUT Q UIFGSBNFPGWJEFP
    DPSSFTQPOEJOHUPUIF DVSSFOUQMBZCBDLQPTJUJPO Q PS JGUIBUJTOPUZFUBWBJMBCMF FHCFDBVTFUIFWJEFPJTTFFLJOHPS
    CVЗFSJOH
    UIFMBTUGSBNFPGUIFWJEFPUPIBWFCFFOSFOEFSFE

    
    8IFOB WJEFP Q FMFNFOUJT QPUFOUJBMMZQMBZJOH Q JU SFQSFTFOUT Q UIFGSBNFPGWJEFPBUUIFDPOUJOVPVTMZJODSFBTJOH
    DVSSFOUQPTJUJPO Q 8IFOUIF DVSSFOUQMBZCBDLQPTJUJPO Q DIBOHFTTVDIUIBUUIFMBTUGSBNFSFOEFSFEJTOPMPOHFS
    UIFGSBNFDPSSFTQPOEJOHUPUIF DVSSFOUQMBZCBDLQPTJUJPO Q JOUIFWJEFP UIFOFXGSBNFNVTUCFSFOEFSFE4JNJMBSMZ
    BOZBVEJPBTTPDJBUFEXJUIUIFWJEFPNVTU JGQMBZFE CFQMBZFETZODISPOJ[FEXJUIUIF DVSSFOUQMBZCBDLQPTJUJPO Q BU
    UIFTQFDJИFE WPMVNF Q XJUIUIFTQFDJИFE NVUFTUBUF Q 

    8IFOB WJEFP Q FMFNFOUJTOFJUIFS QPUFOUJBMMZQMBZJOH Q OPS QBVTFE Q FHXIFOTFFLJOHPSTUBMMFE
    UIFFMFNFOU
    SFQSFTFOUT Q UIFMBTUGSBNFPGUIFWJEFPUPIBWFCFFOSFOEFSFE

    *HM> 3AB<A?K:F>BG:OB=>HLMK>:F<HKK>LIHG=LMH:I:KMB<NE:KIE:R;:<DIHLBMBHGBL=>[G>=;R
    MA>OB=>HLMK>:FL?HKF:M

    *OBEEJUJPOUPUIFBCPWF UIFVTFSBHFOUNBZQSPWJEFNFTTBHFTUPUIFVTFS TVDIBTCVЗFSJOH OPWJEFPMPBEFE


    FSSPS PSNPSFEFUBJMFEJOGPSNBUJPO
    CZPWFSMBZJOHUFYUPSJDPOTPOUIFWJEFPPSPUIFSBSFBTPGUIFFMFNFOUTQMBZCBDL
    BSFB PSJOBOPUIFSBQQSPQSJBUFNBOOFS

    6TFSBHFOUTUIBUDBOOPUSFOEFSUIFWJEFPNBZJOTUFBENBLFUIFFMFNFOU SFQSFTFOU Q BMJOLUPBOFYUFSOBMWJEFP


    QMBZCBDLVUJMJUZPSUPUIFWJEFPEBUBJUTFMG

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    OB=>H QD?@J5D?OC K
    OB=>H QD?@J&@DBCO K
    5IFTFBUUSJCVUFTSFUVSOUIFJOUSJOTJDEJNFOTJPOTPGUIFWJEFP PS[FSPJGUIFEJNFOTJPOTBSFOPULOPXO

    5IF CHNLCHMC=QC>NB BOE CHNLCHMC=B?CABN PGUIF NFEJBSFTPVSDF Q BSFUIFEJNFOTJPOTPGUIFSFTPVSDFJO$44QJYFMT


    BGUFSUBLJOHJOUPBDDPVOUUIFSFTPVSDFTEJNFOTJPOT BTQFDUSBUJP DMFBOBQFSUVSF SFTPMVUJPO BOETPGPSUI BTEFИOFE
    GPSUIFGPSNBUVTFECZUIFSFTPVSDF*GBOBOBNPSQIJDGPSNBUEPFTOPUEFИOFIPXUPBQQMZUIFBTQFDUSBUJPUPUIF
    WJEFPEBUBTEJNFOTJPOTUPPCUBJOUIFDPSSFDUEJNFOTJPOT UIFOUIFVTFSBHFOUNVTUBQQMZUIFSBUJPCZJODSFBTJOHPOF
    EJNFOTJPOBOEMFBWJOHUIFPUIFSVODIBOHFE

    5IF QD?@J5D?OC *%-BUUSJCVUFNVTUSFUVSOUIF JOUSJOTJDXJEUI Q PGUIFWJEFPJO$44QJYFMT5IF QD?@J&@DBCO *%-


    BUUSJCVUFNVTUSFUVSOUIF JOUSJOTJDIFJHIU Q PGUIFWJEFPJO$44QJYFMT*GUIFFMFNFOUT SFBEZ4UBUF Q BUUSJCVUFJT
    )"7&@/05)*/( Q UIFOUIFBUUSJCVUFTNVTUSFUVSO

    5IF WJEFP Q FMFNFOUTVQQPSUT EJNFOTJPOBUUSJCVUFT Q 

    7JEFPDPOUFOUTIPVMECFSFOEFSFEJOTJEFUIFFMFNFOUTQMBZCBDLBSFBTVDIUIBUUIFWJEFPDPOUFOUJTTIPXODFOUFSFEJO
    UIFQMBZCBDLBSFBBUUIFMBSHFTUQPTTJCMFTJ[FUIBUИUTDPNQMFUFMZXJUIJOJU XJUIUIFWJEFPDPOUFOUTBTQFDUSBUJPCFJOH
    QSFTFSWFE5IVT JGUIFBTQFDUSBUJPPGUIFQMBZCBDLBSFBEPFTOPUNBUDIUIFBTQFDUSBUJPPGUIFWJEFP UIFWJEFPXJMMCF
    TIPXOMFUUFSCPYFEPSQJMMBSCPYFE"SFBTPGUIFFMFNFOUTQMBZCBDLBSFBUIBUEPOPUDPOUBJOUIFWJEFPSFQSFTFOU
    OPUIJOH

    5IFJOUSJOTJDXJEUIPGB WJEFP Q FMFNFOUTQMBZCBDLBSFBJTUIF JOUSJOTJDXJEUI Q PGUIFWJEFPSFTPVSDF JGUIBUJT


    BWBJMBCMFPUIFSXJTFJUJTUIFJOUSJOTJDXJEUIPGUIF QPTUFSGSBNF Q JGUIBUJTBWBJMBCMFPUIFSXJTFJUJT$44QJYFMT

    5IFJOUSJOTJDIFJHIUPGB WJEFP Q FMFNFOUTQMBZCBDLBSFBJTUIF JOUSJOTJDIFJHIU Q PGUIFWJEFPSFTPVSDF JGUIBUJT


    BWBJMBCMFPUIFSXJTFJUJTUIFJOUSJOTJDIFJHIUPGUIF QPTUFSGSBNF Q JGUIBUJTBWBJMBCMFPUIFSXJTFJUJT$44QJYFMT

    6TFSBHFOUTTIPVMEQSPWJEFDPOUSPMTUPFOBCMFPSEJTBCMFUIFEJTQMBZPGDMPTFEDBQUJPOT BVEJPEFTDSJQUJPOUSBDLT BOE


    PUIFSBEEJUJPOBMEBUBBTTPDJBUFEXJUIUIFWJEFPTUSFBN UIPVHITVDIGFBUVSFTTIPVME BHBJO OPUJOUFSGFSFXJUIUIF
    QBHFTOPSNBMSFOEFSJOH

    6TFSBHFOUTNBZBMMPXVTFSTUPWJFXUIFWJEFPDPOUFOUJONBOOFSTNPSFTVJUBCMFUPUIFVTFS FHGVMMTDSFFOPSJOBO
    JOEFQFOEFOUSFTJ[BCMFXJOEPX
    "TGPSUIFPUIFSVTFSJOUFSGBDFGFBUVSFT DPOUSPMTUPFOBCMFUIJTTIPVMEOPUJOUFSGFSF
    XJUIUIFQBHFTOPSNBMSFOEFSJOHVOMFTTUIFVTFSBHFOUJT FYQPTJOHBVTFSJOUFSGBDF Q *OTVDIBOJOEFQFOEFOU
    DPOUFYU IPXFWFS VTFSBHFOUTNBZNBLFGVMMVTFSJOUFSGBDFTWJTJCMF XJUI FH QMBZ QBVTF TFFLJOH BOEWPMVNF
    DPOUSPMT FWFOJGUIF DPOUSPMT Q BUUSJCVUFJTBCTFOU

    6TFSBHFOUTNBZBMMPXWJEFPQMBZCBDLUPBЗFDUTZTUFNGFBUVSFTUIBUDPVMEJOUFSGFSFXJUIUIFVTFSTFYQFSJFODFGPS
    FYBNQMF VTFSBHFOUTDPVMEEJTBCMFTDSFFOTBWFSTXIJMFWJEFPQMBZCBDLJTJOQSPHSFTT

    [3;LHCHA 1L>K:@>GMLLAHNE=GHMIKHOB=>:IN;EB<,%MH<:NL>OB=>HLMH;>LAHPG?NEE
    L<K>>G L<KBIM
    <HF;BG>=PBMA:<:K>?NEER<K:?M>=OB=>H[E> <HNE=MKB<DMA>NL>KBGMHMABGDBG@:LRLM>F
    FH=:E=B:EH@A:=
    ;>>GLAHPG :G=IKHFIMMA>NL>K?HK:I:LLPHK= 0A>K>BL:ELHMA>=:G@>KH?F>K>:GGHR:G<> PBMA

    
    I:@>LE:NG<ABG@?NEE
    L<K>>GOB=>HLPA>GEBGDL:K><EB<D>=HKI:@>LG:OB@:M>= %GLM>:= NL>K
    :@>GM

    LI><B[<BGM>K?:<>?>:MNK>LF:R;>IKHOB=>=MH>:LBER:EEHPMA>NL>KMHH;M:BG:?NEE
    L<K>>GIE:R;:<D
    FH=>

    5IJTFYBNQMFTIPXTIPXUPEFUFDUXIFOBWJEFPIBTGBJMFEUPQMBZDPSSFDUMZ

    TDSJQU
    GVODUJPOGBJMFE F
    \
    WJEFPQMBZCBDLGBJMFETIPXBNFTTBHFTBZJOHXIZ
    TXJUDI FUBSHFUFSSPSDPEF
    \
    DBTFFUBSHFUFSSPS.&%*"@&33@"#035&%
    BMFSU :PVBCPSUFEUIFWJEFPQMBZCBDL
    
    CSFBL
    DBTFFUBSHFUFSSPS.&%*"@&33@/&5803,
    BMFSU "OFUXPSLFSSPSDBVTFEUIFWJEFPEPXOMPBEUPGBJMQBSUXBZ
    
    CSFBL
    DBTFFUBSHFUFSSPS.&%*"@&33@%&$0%&
    BMFSU 5IFWJEFPQMBZCBDLXBTBCPSUFEEVFUPBDPSSVQUJPOQSPCMFNPSCFDBVTFUIF
    WJEFPVTFEGFBUVSFTZPVSCSPXTFSEJEOPUTVQQPSU
    
    CSFBL
    DBTFFUBSHFUFSSPS.&%*"@&33@43$@/05@4611035&%
    BMFSU 5IFWJEFPDPVMEOPUCFMPBEFE FJUIFSCFDBVTFUIFTFSWFSPSOFUXPSLGBJMFE
    PSCFDBVTFUIFGPSNBUJTOPUTVQQPSUFE
    
    CSFBL
    EFGBVMU
    BMFSU "OVOLOPXOFSSPSPDDVSSFE
    
    CSFBL
    ^
    ^
    TDSJQU
    QWJEFPTSDUHJGWJEBVUPQMBZDPOUSPMTPOFSSPSGBJMFE FWFOU
    WJEFPQ
    QBISFGUHJGWJE%PXOMPBEUIFWJEFPGJMFBQ

       0B? <P?DJ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    &NCFEEFEDPOUFOU Q 
    *GUIFFMFNFOUIBTB DPOUSPMT Q BUUSJCVUF *OUFSBDUJWFDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF FNCFEEFEDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    *GUIFFMFNFOUIBTB TSD Q BUUSJCVUF USBOTQBSFOU Q CVUXJUIOP NFEJBFMFNFOU Q EFTDFOEBOUT
    *GUIFFMFNFOUEPFTOPUIBWFB TSD Q BUUSJCVUFPOFPSNPSF TPVSDF Q FMFNFOUT UIFO USBOTQBSFOU Q CVU
    XJUIOP NFEJBFMFNFOU Q EFTDFOEBOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    TSD Q
    QSFMPBE Q
    BVUPQMBZ Q
    MPPQ Q
    DPOUSPMT Q

    +)CHN?L@;=?

    </BNFE$POTUSVDUPS"VEJP

    /BNFE$POTUSVDUPS"VEJP JO%0.4USJOHTSD
    >
    JOUFSGBDF &2+*P?DJ#G@H@IO  )5.-.FEJB&MFNFOU \^

    "O BVEJP Q FMFNFOU SFQSFTFOUT Q BTPVOEPSBVEJPTUSFBN

    
    $POUFOUNBZCFQSPWJEFEJOTJEFUIF BVEJP Q FMFNFOU6TFSBHFOUTTIPVMEOPUTIPXUIJTDPOUFOUUPUIFVTFSJUJT
    JOUFOEFEGPSPMEFS8FCCSPXTFSTXIJDIEPOPUTVQQPSU BVEJP Q TPUIBUMFHBDZBVEJPQMVHJOTDBOCFUSJFE PSUPTIPX
    UFYUUPUIFVTFSTPGUIFTFPMEFSCSPXTFSTJOGPSNJOHUIFNPGIPXUPBDDFTTUIFBVEJPDPOUFOUT

    *HM> %GI:KMB<NE:K MABL<HGM>GMBLGHMBGM>G=>=MH:==K>LL:<<>LLB;BEBMR<HG<>KGL 0HF:D>:N=BH


    <HGM>GM:<<>LLB;E>MHMA>=>:?HKMHMAHL>PBMAHMA>KIARLB<:EHK<H@GBMBO>=BL:;BEBMB>L :NMAHKL:K>
    >QI><M>=MHIKHOB=>:EM>KG:MBO>F>=B:LMK>:FL:G= HKMH>F;>=:<<>LLB;BEBMR:B=LLN<A:L
    MK:GL<KBIMBHGLBGMHMA>BKF>=B:LMK>:FL

    5IF BVEJP Q FMFNFOUJTB NFEJBFMFNFOU Q XIPTF NFEJBEBUB Q JTPTUFOTJCMZBVEJPEBUB

    5IF TSD Q QSFMPBE Q BVUPQMBZ Q MPPQ Q BOE DPOUSPMT Q BUUSJCVUFTBSF UIFBUUSJCVUFTDPNNPOUPBMMNFEJB
    FMFNFOUT Q 

    8IFOBO BVEJP Q FMFNFOUJT QPUFOUJBMMZQMBZJOH Q JUNVTUIBWFJUTBVEJPEBUBQMBZFETZODISPOJ[FEXJUIUIF DVSSFOU


    QMBZCBDLQPTJUJPO Q BUUIFTQFDJИFE WPMVNF Q XJUIUIFTQFDJИFE NVUFTUBUF Q 

    8IFOBO BVEJP Q FMFNFOUJTOPU QPUFOUJBMMZQMBZJOH Q BVEJPNVTUOPUQMBZGPSUIFFMFNFOU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    :N=BH H?Q P?DJ 7 NKE 8
    3FUVSOTBOFX BVEJP Q FMFNFOU XJUIUIF TSD Q BUUSJCVUFTFUUPUIFWBMVFQBTTFEJOUIFBSHVNFOU JG
    BQQMJDBCMF

    5XPDPOTUSVDUPSTBSFQSPWJEFEGPSDSFBUJOH )5.-"VEJP&MFNFOU Q PCKFDUT JOBEEJUJPOUPUIFGBDUPSZNFUIPETGSPN%0.


    $PSFTVDIBT DSFBUF&MFNFOU

     P?DJ BOE P?DJLK<8IFOJOWPLFEBTDPOTUSVDUPST UIFTFNVTUSFUVSOBOFX


    )5.-"VEJP&MFNFOU Q PCKFDU BOFX BVEJP Q FMFNFOU
    5IFFMFNFOUNVTUIBWFJUT QSFMPBE Q BUUSJCVUFTFUUPUIF
    MJUFSBMWBMVFBVUP Q *GUIF BA2 BSHVNFOUJTQSFTFOU UIFPCKFDUDSFBUFENVTUIBWFJUT TSD Q DPOUFOUBUUSJCVUFTFUUP
    UIFQSPWJEFEWBMVF BOEUIFVTFSBHFOUNVTUJOWPLFUIFPCKFDUT SFTPVSDFTFMFDUJPOBMHPSJUIN Q CFGPSFSFUVSOJOH5IF
    FMFNFOUTEPDVNFOUNVTUCFUIF BDUJWFEPDVNFOU Q PGUIF CSPXTJOHDPOUFYU Q PGUIF 8JOEPX Q PCKFDUPOXIJDIUIF
    JOUFSGBDFPCKFDUPGUIFJOWPLFEDPOTUSVDUPSJTGPVOE

       0B? NJPM>@ ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB NFEJBFMFNFOU Q CFGPSFBOZ ЙPXDPOUFOU Q 

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    TSD Q
    UZQF Q
    NFEJB Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*1JPM>@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH TSD
    BUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH NFEJB
    ^

    5IF TPVSDF Q FMFNFOUBMMPXTBVUIPSTUPTQFDJGZNVMUJQMFBMUFSOBUJWF NFEJBSFTPVSDFT Q GPS NFEJBFMFNFOUT Q *U
    EPFTOPU SFQSFTFOU Q BOZUIJOHPOJUTPXO

    5IF NM> BUUSJCVUFHJWFTUIFBEESFTTPGUIF NFEJBSFTPVSDF Q 5IFWBMVFNVTUCFB WBMJEOPOFNQUZ63- Q 5IJT


    BUUSJCVUFNVTUCFQSFTFOU

    
    5IF OTK@ BUUSJCVUFHJWFTUIFUZQFPGUIF NFEJBSFTPVSDF Q UPIFMQUIFVTFSBHFOUEFUFSNJOFJGJUDBOQMBZUIJT NFEJB
    SFTPVSDF Q CFGPSFGFUDIJOHJU*GTQFDJИFE JUTWBMVFNVTUCFB WBMJE.*.&UZQF Q 5IF DPEFDT QBSBNFUFSNBZCF
    TQFDJИFEBOENJHIUCFOFDFTTBSZUPTQFDJGZFYBDUMZIPXUIFSFTPVSDFJTFODPEFE <3'$> Q

    5IFGPMMPXJOHMJTUTIPXTTPNFFYBNQMFTPGIPXUPVTFUIF DPEFDT .*.&QBSBNFUFSJOUIF UZQF Q BUUSJCVUF

    $ /CGJF?<;M?FCH?JLI]F?PC>?IG;CH;H>?RN?H>?>PC>?I=IGJ;NC<F?F?P?F;H>(IQ
    IGJF?RCNS;O>CICH),=IHN;CH?L
    TPVSDFTSDWJEFPNQUZQFWJEFPNQDPEFDTBWD&& NQB

    $ !RN?H>?>JLI]F?PC>?I<;M?FCH? =IGJ;NC<F?F?P?F;H>(IQ IGJF?RCNS;O>CICH),


    =IHN;CH?L
    TPVSDFTSDWJEFPNQUZQFWJEFPNQDPEFDTBWD"& NQB

    $ );CHJLI]F?PC>?IF?P?F;H>(IQ IGJF?RCNS;O>CICH),=IHN;CH?L
    TPVSDFTSDWJEFPNQUZQFWJEFPNQDPEFDTBWD%& NQB

    $ $CABJLI]F?PC>?ICH=IGJ;NC<F?QCNBG;CH
    <;M?FCH?
    IL?RN?H>?>JLI]F?MF?P?F;H>(IQ
    IGJF?RCNS;O>CICH),=IHN;CH?L
    TPVSDFTSDWJEFPNQUZQFWJEFPNQDPEFDTBWD& NQB

    ),!# 2CMO;F/CGJF?,LI]F?(?P?FPC>?I;H>(IQ IGJF?RCNS;O>CICH),=IHN;CH?L


    TPVSDFTSDWJEFPNQUZQFWJEFPNQDPEFDTNQW NQB

    ),!# >P;H=?>/CGJF?,LI]F?(?P?FPC>?I;H>(IQ IGJF?RCNS;O>CICH),=IHN;CH?L


    TPVSDFTSDWJEFPNQUZQFWJEFPNQDPEFDTNQW NQB

    ),!# 2CMO;F/CGJF?,LI]F?(?P?FPC>?I;H>).;O>CICH#,,=IHN;CH?L
    TPVSDFTSDWJEFPHQUZQFWJEFPHQQDPEFDTNQW TBNS

    0B?IL;PC>?I;H>2IL<CM;O>CICH+AA=IHN;CH?L
    TPVSDFTSDWJEFPPHWUZQFWJEFPPHHDPEFDTUIFPSB WPSCJT

    0B?IL;PC>?I;H>/J??R;O>CICH+AA=IHN;CH?L
    TPVSDFTSDWJEFPPHWUZQFWJEFPPHHDPEFDTUIFPSB TQFFY

    2IL<CM;O>CI;FIH?CH+AA=IHN;CH?L
    TPVSDFTSDBVEJPPHHUZQFBVEJPPHHDPEFDTWPSCJT

    /J??R;O>CI;FIH?CH+AA=IHN;CH?L
    TPVSDFTSDBVEJPTQYUZQFBVEJPPHHDPEFDTTQFFY

    "(;O>CI;FIH?CH+AA=IHN;CH?L
    TPVSDFTSDBVEJPPHBUZQFBVEJPPHHDPEFDTGMBD

    CL;=PC>?I;H>2IL<CM;O>CICH+AA=IHN;CH?L
    TPVSDFTSDWJEFPPHWUZQFWJEFPPHHDPEFDTEJSBD WPSCJT

    0B?IL;PC>?I;H>2IL<CM;O>CICH);NLIME;=IHN;CH?L
    TPVSDFTSDWJEFPNLWUZQFWJEFPYNBUSPTLBDPEFDTUIFPSB WPSCJT

    5IF H@?D< BUUSJCVUFHJWFTUIFJOUFOEFENFEJBUZQFPGUIF NFEJBSFTPVSDF Q UPIFMQUIFVTFSBHFOUEFUFSNJOFJGUIJT


    NFEJBSFTPVSDF Q JTVTFGVMUPUIFVTFSCFGPSFGFUDIJOHJU*UTWBMVFNVTUCFB WBMJENFEJBRVFSZ Q 

    5IFEFGBVMU JGUIF NFEJB BUUSJCVUFJTPNJUUFE JTBMM NFBOJOHUIBUCZEFGBVMUUIF NFEJBSFTPVSDF Q JTTVJUBCMFGPSBMM


    NFEJB

    *GB TPVSDF Q FMFNFOUJTJOTFSUFEBTBDIJMEPGB NFEJBFMFNFOU Q UIBUIBTOP TSD Q BUUSJCVUFBOEXIPTF
    OFUXPSL4UBUF Q IBTUIFWBMVF /&5803,@&.15: Q UIFVTFSBHFOUNVTUJOWPLFUIF NFEJBFMFNFOU Q T SFTPVSDF
    TFMFDUJPOBMHPSJUIN Q 

    5IF*%-BUUSJCVUFT NM> OTK@ BOE H@?D< NVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    *GUIFBVUIPSJTOUTVSFJGUIFVTFSBHFOUTXJMMBMMCFBCMFUPSFOEFSUIFNFEJBSFTPVSDFTQSPWJEFE UIFBVUIPSDBO
    MJTUFOUPUIF FSSPS FWFOUPOUIFMBTU TPVSDF Q FMFNFOUBOEUSJHHFSGBMMCBDLCFIBWJPS

    TDSJQU
    GVODUJPOGBMMCBDL WJEFP
    \
    SFQMBDFWJEFPXJUIJUTDPOUFOUT
    XIJMF WJEFPIBT$IJME/PEFT

    \
    JG WJEFPGJSTU$IJMEJOTUBODFPG)5.-4PVSDF&MFNFOU

    
    WJEFPSFNPWF$IJME WJEFPGJSTU$IJME
    
    FMTF
    WJEFPQBSFOU/PEFJOTFSU#FGPSF WJEFPGJSTU$IJME WJEFP
    
    ^
    WJEFPQBSFOU/PEFSFNPWF$IJME WJEFP
    
    ^
    TDSJQU
    WJEFPDPOUSPMTBVUPQMBZ
    TPVSDFTSDWJEFPNQUZQFWJEFPNQDPEFDTBWD&& NQB
    TPVSDFTSDWJEFPPHWUZQFWJEFPPHHDPEFDTUIFPSB WPSCJT
    POFSSPSGBMMCBDL QBSFOU/PEF
    
    
    WJEFP

       )?>C;?F?G?HNM

    )?>C;?F?G?HNM JNQMFNFOUUIFGPMMPXJOHJOUFSGBDF

    JOUFSGBDF &2+*+@?D<#G@H@IO  )5.-&MFNFOU \

    FSSPSTUBUF
    SFBEPOMZBUUSJCVUF .FEJB&SSPS FSSPS

    OFUXPSLTUBUF
    BUUSJCVUF%0.4USJOH TSD
    SFBEPOMZBUUSJCVUF%0.4USJOH DVSSFOU4SD
    DPOTUVOTJHOFETIPSU /&5803,@&.15: 
    DPOTUVOTJHOFETIPSU /&5803,@*%-& 
    DPOTUVOTJHOFETIPSU /&5803,@-0"%*/( 
    DPOTUVOTJHOFETIPSU /&5803,@/0@4063$& 
    SFBEPOMZBUUSJCVUFVOTJHOFETIPSU OFUXPSL4UBUF
    BUUSJCVUF%0.4USJOH QSFMPBE
    SFBEPOMZBUUSJCVUF 5JNF3BOHFT CVGGFSFE
    WPJE MPBE
    
    %0.4USJOH DBO1MBZ5ZQF JO%0.4USJOHUZQF
    

    SFBEZTUBUF
    DPOTUVOTJHOFETIPSU )"7&@/05)*/( 
    DPOTUVOTJHOFETIPSU )"7&@.&5"%"5" 
    DPOTUVOTJHOFETIPSU )"7&@$633&/5@%"5" 
    DPOTUVOTJHOFETIPSU )"7&@'6563&@%"5" 
    DPOTUVOTJHOFETIPSU )"7&@&/06()@%"5" 
    SFBEPOMZBUUSJCVUFVOTJHOFETIPSU SFBEZ4UBUF
    SFBEPOMZBUUSJCVUFCPPMFBO TFFLJOH

    QMBZCBDLTUBUF
    BUUSJCVUFGMPBU DVSSFOU5JNF
    SFBEPOMZBUUSJCVUFGMPBU TUBSU5JNF
    SFBEPOMZBUUSJCVUFGMPBU EVSBUJPO
    SFBEPOMZBUUSJCVUFCPPMFBO QBVTFE
    BUUSJCVUFGMPBU EFGBVMU1MBZCBDL3BUF
    BUUSJCVUFGMPBU QMBZCBDL3BUF
    SFBEPOMZBUUSJCVUF 5JNF3BOHFT QMBZFE
    SFBEPOMZBUUSJCVUF 5JNF3BOHFT TFFLBCMF
    SFBEPOMZBUUSJCVUFCPPMFBO FOEFE
    BUUSJCVUFCPPMFBO BVUPQMBZ
    BUUSJCVUFCPPMFBO MPPQ
    WPJE QMBZ
    
    WPJE QBVTF
    

    DPOUSPMT
    BUUSJCVUFCPPMFBO DPOUSPMT
    BUUSJCVUFGMPBU WPMVNF

    
    BUUSJCVUFCPPMFBO NVUFE
    ^

    5IF G?>C;?F?G?HN;NNLC<ON?M TSD Q QSFMPBE Q BVUPQMBZ Q MPPQ Q BOE DPOUSPMT Q BQQMZUPBMM NFEJB
    FMFNFOUT Q 5IFZBSFEFИOFEJOUIJTTFDUJPO

    .FEJBFMFNFOUT Q BSFVTFEUPQSFTFOUBVEJPEBUB PSWJEFPBOEBVEJPEBUB UPUIFVTFS5IJTJTSFGFSSFEUPBT G?>C;


    >;N; JOUIJTTFDUJPO TJODFUIJTTFDUJPOBQQMJFTFRVBMMZUP NFEJBFMFNFOUT Q GPSBVEJPPSGPSWJEFP5IFUFSN G?>C;
    L?MIOL=? JTVTFEUPSFGFSUPUIFDPNQMFUFTFUPGNFEJBEBUB FHUIFDPNQMFUFWJEFPИMF PSDPNQMFUFBVEJPИMF

    &YDFQUXIFSFPUIFSXJTFTQFDJИFE UIF UBTLTPVSDF Q GPSBMMUIFUBTLT RVFVFE Q JOUIJTTFDUJPOBOEJUTTVCTFDUJPOTJT


    UIF G?>C;?F?G?HN?P?HNN;MEMIOL=?

        !LLIL=I>?M

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    F>=B: @MMJM K
    3FUVSOTB .FEJB&SSPS Q PCKFDUSFQSFTFOUJOHUIFDVSSFOUFSSPSTUBUFPGUIFFMFNFOU
    3FUVSOTOVMMJGUIFSFJTOPFSSPS

    "MM NFEJBFMFNFOUT Q IBWFBOBTTPDJBUFEFSSPSTUBUVT XIJDISFDPSETUIFMBTUFSSPSUIFFMFNFOUFODPVOUFSFETJODFJUT


    SFTPVSDFTFMFDUJPOBMHPSJUIN Q XBTMBTUJOWPLFE5IF @MMJM BUUSJCVUF POHFUUJOH NVTUSFUVSOUIF .FEJB&SSPS Q
    PCKFDUDSFBUFEGPSUIJTMBTUFSSPS PSOVMMJGUIFSFIBTOPUCFFOBOFSSPS

    JOUFSGBDF +@?D<#MMJM \
    DPOTUVOTJHOFETIPSU .&%*"@&33@"#035&% 
    DPOTUVOTJHOFETIPSU .&%*"@&33@/&5803, 
    DPOTUVOTJHOFETIPSU .&%*"@&33@%&$0%& 
    DPOTUVOTJHOFETIPSU .&%*"@&33@43$@/05@4611035&% 
    SFBEPOMZBUUSJCVUFVOTJHOFETIPSU DPEF
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K K
    F>=B: @MMJM >J?@
    3FUVSOTUIFDVSSFOUFSSPSTFSSPSDPEF GSPNUIFMJTUCFMPX

    5IF >J?@ BUUSJCVUFPGB .FEJB&SSPS Q PCKFDUNVTUSFUVSOUIFDPEFGPSUIFFSSPS XIJDINVTUCFPOFPGUIFGPMMPXJOH

    +$#( 9$009 !-02$# HOG?LC=P;FO?


    5IFGFUDIJOHQSPDFTTGPSUIF NFEJBSFTPVSDF Q XBTBCPSUFECZUIFVTFSBHFOUBUUIFVTFSTSFRVFTU

    +$#( 9$009,$25-0) HOG?LC=P;FO?


    "OFUXPSLFSSPSPGTPNFEFTDSJQUJPODBVTFEUIFVTFSBHFOUUPTUPQGFUDIJOHUIF NFEJBSFTPVSDF Q BGUFSUIF
    SFTPVSDFXBTFTUBCMJTIFEUPCFVTBCMF

    +$#( 9$009#$"-#$ HOG?LC=P;FO?


    "OFSSPSPGTPNFEFTDSJQUJPOPDDVSSFEXIJMFEFDPEJOHUIF NFEJBSFTPVSDF Q BGUFSUIFSFTPVSDFXBTFTUBCMJTIFE
    UPCFVTBCMF

    +$#( 9$00910"9,-2913..-02$# HOG?LC=P;FO?


    5IF NFEJBSFTPVSDF Q JOEJDBUFECZUIF TSD Q BUUSJCVUFXBTOPUTVJUBCMF

        (I=;NCIHI@NB?G?>C;L?MIOL=?

    5IF NM> DPOUFOUBUUSJCVUFPO NFEJBFMFNFOUT Q HJWFTUIFBEESFTTPGUIFNFEJBSFTPVSDF WJEFP BVEJP


    UPTIPX5IF
    BUUSJCVUF JGQSFTFOU NVTUDPOUBJOB WBMJEOPOFNQUZ63- Q 

    
    *GB TSD Q BUUSJCVUFPGB NFEJBFMFNFOU Q JTTFUPSDIBOHFE UIFVTFSBHFOUNVTUJOWPLFUIF NFEJBFMFNFOU Q T
    NFEJBFMFNFOUMPBEBMHPSJUIN Q  (4<>E8=6 UIF TSD Q BUUSJCVUFEPFTOPUEPUIJT FWFOJGUIFSFBSF TPVSDF Q
    FMFNFOUTQSFTFOU

    5IF NM> *%-BUUSJCVUFPO NFEJBFMFNFOUT Q NVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    F>=B: >PMM@IO1M>
    3FUVSOTUIFBEESFTTPGUIFDVSSFOU NFEJBSFTPVSDF Q 
    3FUVSOTUIFFNQUZTUSJOHXIFOUIFSFJTOP NFEJBSFTPVSDF Q 

    5IF >PMM@IO1M> *%-BUUSJCVUFJTJOJUJBMMZUIFFNQUZTUSJOH*UTWBMVFJTDIBOHFECZUIF SFTPVSDFTFMFDUJPOBMHPSJUIN Q


    EFИOFECFMPX

    *HM> 0A>K>:K>MPHP:RLMHLI><B?R: F>=B:K>LHNK<> I MA> LK< I :MMKB;NM> HK LHNK<> I
    >E>F>GML 0A>:MMKB;NM>HO>KKB=>LMA>>E>F>GML

        )%)!NSJ?M

    " NFEJBSFTPVSDF Q DBOCFEFTDSJCFEJOUFSNTPGJUT CH?4 TQFDJИDBMMZB .*.&UZQF Q PQUJPOBMMZXJUIB DPEFDT
    QBSBNFUFS <3'$> Q

    5ZQFTBSFVTVBMMZTPNFXIBUJODPNQMFUFEFTDSJQUJPOTGPSFYBNQMFWJEFPNQFHEPFTOUTBZBOZUIJOHFYDFQUXIBUUIF
    DPOUBJOFSUZQFJT BOEFWFOBUZQFMJLFWJEFPNQDPEFDTBWD&& NQBEPFTOUJODMVEFJOGPSNBUJPO
    MJLFUIFBDUVBMCJUSBUF POMZUIFNBYJNVNCJUSBUF
    5IVT HJWFOBUZQF BVTFSBHFOUDBOPGUFOPOMZLOPXXIFUIFSJU
    <867C CFBCMFUPQMBZNFEJBPGUIBUUZQF XJUIWBSZJOHMFWFMTPGDPOИEFODF
    PSXIFUIFSJUEFИOJUFMZ 20==>C QMBZNFEJB
    PGUIBUUZQF

    NSJ?NB;NNB?OM?L;A?HNEHIQMCN=;HHINL?H>?L JTPOFUIBUEFTDSJCFTBSFTPVSDFUIBUUIFVTFSBHFOUEFИOJUFMZ
    EPFTOPUTVQQPSU GPSFYBNQMFCFDBVTFJUEPFTOUSFDPHOJ[FUIFDPOUBJOFSUZQF PSJUEPFTOUTVQQPSUUIFMJTUFEDPEFDT

    5IF .*.&UZQF Q BQQMJDBUJPOPDUFUTUSFBNXJUIOPQBSBNFUFSTJTOFWFS BUZQFUIBUUIFVTFSBHFOULOPXTJU


    DBOOPUSFOEFS Q 6TFSBHFOUTNVTUUSFBUUIBUUZQFBTFRVJWBMFOUUPUIFMBDLPGBOZFYQMJDJU $POUFOU5ZQFNFUBEBUB Q
    XIFOJUJTVTFEUPMBCFMBQPUFOUJBM NFEJBSFTPVSDF Q 

    *HM> %GMA>:;L>G<>H?:LI><B[<:MBHGMHMA><HGMK:KR MA> )%)!MRI> I :IIEB<:MBHGH<M>M


    LMK>:FPA>GNL>= PBMA I:K:F>M>KL > @ :IIEB<:MBHGH<M>M LMK>:F<H=><LMA>HK: BL :MRI>MA:M
    MA>NL>K:@>GMDGHPLBM<:GGHMK>G=>K I

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    F>=B: ><I.G<T2TK@ MRI>
    3FUVSOTUIFFNQUZTUSJOH BOFHBUJWFSFTQPOTF
    NBZCF PSQSPCBCMZCBTFEPOIPXDPOИEFOUUIFVTFS
    BHFOUJTUIBUJUDBOQMBZNFEJBSFTPVSDFTPGUIFHJWFOUZQF

    5IF ><I.G<T2TK@MRI> NFUIPENVTUSFUVSOUIFFNQUZTUSJOHJG CH?4 JT BUZQFUIBUUIFVTFSBHFOULOPXTJUDBOOPU


    SFOEFS Q JUNVTUSFUVSOQSPCBCMZJGUIFVTFSBHFOUJTDPOИEFOUUIBUUIFUZQFSFQSFTFOUTB NFEJBSFTPVSDF Q UIBUJU
    DBOSFOEFSJGVTFEJOXJUIUIJT BVEJP Q PS WJEFP Q FMFNFOUBOEJUNVTUSFUVSONBZCFPUIFSXJTF*NQMFNFOUPSTBSF
    FODPVSBHFEUPSFUVSONBZCFVOMFTTUIFUZQFDBOCFDPOИEFOUMZFTUBCMJTIFEBTCFJOHTVQQPSUFEPSOPU(FOFSBMMZ B
    VTFSBHFOUTIPVMEOFWFSSFUVSOQSPCBCMZJGUIFUZQFEPFTOUIBWFB DPEFDT QBSBNFUFS

    5IJTTDSJQUUFTUTUPTFFJGUIFVTFSBHFOUTVQQPSUTB ИDUJPOBM
    OFXGPSNBUUPEZOBNJDBMMZEFDJEFXIFUIFSUPVTF
    B WJEFP Q FMFNFOUPSBQMVHJO

    TFDUJPOJEWJEFP
    QBISFGQMBZJOHDBUTOGW%PXOMPBEWJEFPBQ
    TFDUJPO
    TDSJQU
    WBSWJEFP4FDUJPOEPDVNFOUHFU&MFNFOU#Z*E WJEFP
    
    WBSWJEFP&MFNFOUEPDVNFOUDSFBUF&MFNFOU WJEFP
    
    WBSTVQQPSUWJEFP&MFNFOUDBO1MBZ5ZQF WJEFP

    
    YOFXGJDUJPOBMGPSNBUDPEFDTLJUUFOT CVOOJFT
    
    JG TVQQPSUQSPCBCMZ/FX'JDUJPOBM7JEFP1MVHJOJOOBWJHBUPSQMVHJOT
    \
    OPUDPOGJEFOUPGCSPXTFSTVQQPSU
    CVUXFIBWFBQMVHJO
    TPVTFQMVHJOJOTUFBE
    WJEFP&MFNFOUEPDVNFOUDSFBUF&MFNFOU FNCFE
    
    ^FMTFJG TVQQPSU
    \
    OPTVQQPSUGSPNCSPXTFSBOEOPQMVHJO
    EPOPUIJOH
    WJEFP&MFNFOUOVMM
    ^
    JG WJEFP&MFNFOU
    \
    XIJMF WJEFP4FDUJPOIBT$IJME/PEFT

    WJEFP4FDUJPOSFNPWF$IJME WJEFP4FDUJPOGJSTU$IJME
    
    WJEFP&MFNFOUTFU"UUSJCVUF TSD QMBZJOHDBUTOGW
    
    WJEFP4FDUJPOBQQFOE$IJME WJEFP&MFNFOU
    
    ^
    TDSJQU

    *HM> 0A> MRI> I :MMKB;NM>H?MA> LHNK<> I >E>F>GM:EEHPLMA>NL>K:@>GMMH:OHB==HPGEH:=BG@


    K>LHNK<>LMA:MNL>?HKF:MLBM<:GGHMK>G=>K

        *?NQILEMN;N?M

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    F>=B: I@ORJMF1O<O@ K
    3FUVSOTUIFDVSSFOUTUBUFPGOFUXPSLBDUJWJUZGPSUIFFMFNFOU GSPNUIFDPEFTJOUIFMJTUCFMPX

    "T NFEJBFMFNFOUT Q JOUFSBDUXJUIUIFOFUXPSL UIFJSDVSSFOUOFUXPSLBDUJWJUZJTSFQSFTFOUFECZUIF I@ORJMF1O<O@


    BUUSJCVUF0OHFUUJOH JUNVTUSFUVSOUIFDVSSFOUOFUXPSLTUBUFPGUIFFMFNFOU XIJDINVTUCFPOFPGUIFGPMMPXJOH
    WBMVFT

    ,$25-0)9$+.27 HOG?LC=P;FO?
    5IFFMFNFOUIBTOPUZFUCFFOJOJUJBMJ[FE"MMBUUSJCVUFTBSFJOUIFJSJOJUJBMTUBUFT

    ,$25-0)9(#*$ HOG?LC=P;FO?
    5IFFMFNFOUT SFTPVSDFTFMFDUJPOBMHPSJUIN Q JTBDUJWFBOE IBTTFMFDUFEB SFTPVSDF Q CVUJUJTOPUBDUVBMMZ
    VTJOHUIFOFUXPSLBUUIJTUJNF

    ,$25-0)9*- #(,& HOG?LC=P;FO?


    5IFVTFSBHFOUJTBDUJWFMZUSZJOHUPEPXOMPBEEBUB

    ,$25-0)9,-91-30"$ HOG?LC=P;FO?
    5IFFMFNFOUT SFTPVSDFTFMFDUJPOBMHPSJUIN Q JTBDUJWF CVUJU IBTGBJMFEUPИOEB SFTPVSDF Q UPVTF

    5IF SFTPVSDFTFMFDUJPOBMHPSJUIN Q EFИOFECFMPXEFTDSJCFTFYBDUMZXIFOUIF OFUXPSL4UBUF Q BUUSJCVUFDIBOHFT


    WBMVFBOEXIBUFWFOUTИSFUPJOEJDBUFDIBOHFTJOUIJTTUBUF

        (I;>CHANB?G?>C;L?MIOL=?

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    F>=B: GJ<? 
    $BVTFTUIFFMFNFOUUPSFTFUBOETUBSUTFMFDUJOHBOEMPBEJOHBOFX NFEJBSFTPVSDF Q GSPNTDSBUDI

    "MM NFEJBFMFNFOUT Q IBWFBO ;ONIJF;SCHA^;A XIJDINVTUCFHJOJOUIFUSVFTUBUF BOEB >?F;SCHA NB? FI;>
    ?P?HN^;A XIJDINVTUCFHJOJOUIFGBMTFTUBUF8IJMFUIF EFMBZJOHUIFMPBEFWFOUЙBH Q JTUSVF UIFFMFNFOUNVTU
    EFMBZUIFMPBEFWFOU Q PGJUTEPDVNFOU

    
    8IFOUIF GJ<? NFUIPEPOB NFEJBFMFNFOU Q JTJOWPLFE UIFVTFSBHFOUNVTUSVOUIF NFEJBFMFNFOUMPBE
    BMHPSJUIN Q 

    5IF G?>C;?F?G?HNFI;>;FAILCNBG DPOTJTUTPGUIFGPMMPXJOHTUFQT

     "CPSUBOZBMSFBEZSVOOJOHJOTUBODFPGUIF SFTPVSDFTFMFDUJPOBMHPSJUIN Q GPSUIJTFMFNFOU

     *GUIFSFBSFBOZ UBTLT Q GSPNUIF NFEJBFMFNFOU Q T NFEJBFMFNFOUFWFOUUBTLTPVSDF Q JOPOFPGUIF


    UBTLRVFVFT Q UIFOSFNPWFUIPTFUBTLT

    *HM> :LB<:EER I>G=BG@>O>GML:G=<:EE;:<DL?HKMA>F>=B:>E>F>GM:K>=BL<:K=>=PA>G


    MA>F>=B:>E>F>GMLM:KMLEH:=BG@:G>PK>LHNK<>

     *GUIF NFEJBFMFNFOU Q T OFUXPSL4UBUF Q JTTFUUP /&5803,@-0"%*/( Q PS /&5803,@*%-& Q RVFVFB
    UBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE BCPSU Q BUUIF NFEJBFMFNFOU Q 

     *GUIF NFEJBFMFNFOU Q T OFUXPSL4UBUF Q JTOPUTFUUP /&5803,@&.15: Q UIFOSVOUIFTFTVCTUFQT

     *GBGFUDIJOHQSPDFTTJTJOQSPHSFTTGPSUIF NFEJBFMFNFOU Q UIFVTFSBHFOUTIPVMETUPQJU

     4FUUIF OFUXPSL4UBUF Q BUUSJCVUFUP /&5803,@&.15: Q 

     *G SFBEZ4UBUF Q JTOPUTFUUP )"7&@/05)*/( Q UIFOTFUJUUPUIBUTUBUF

     *GUIF QBVTFE Q BUUSJCVUFJTGBMTF UIFOTFUUPUSVF

     *G TFFLJOH Q JTUSVF TFUJUUPGBMTF

     4FUUIF DVSSFOUQMBZCBDLQPTJUJPO Q UP

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FNQUJFE Q BUUIF NFEJBFMFNFOU Q 

     4FUUIF QMBZCBDL3BUF Q BUUSJCVUFUPUIFWBMVFPGUIF EFGBVMU1MBZCBDL3BUF Q BUUSJCVUF

     4FUUIF FSSPS Q BUUSJCVUFUPOVMMBOEUIF BVUPQMBZJOHЙBH Q UPUSVF

     *OWPLFUIF NFEJBFMFNFOU Q T SFTPVSDFTFMFDUJPOBMHPSJUIN Q 

     *HM> ,E:R;:<DH?:GRIK>OBHNLERIE:RBG@ F>=B:K>LHNK<> I ?HKMABL>E>F>GMLMHIL

    5IF L?MIOL=?M?F?=NCIH;FAILCNBG GPSB NFEJBFMFNFOU Q JTBTGPMMPXT5IJTBMHPSJUINJTBMXBZTJOWPLFE


    TZODISPOPVTMZ CVUPOFPGUIFИSTUTUFQTJOUIFBMHPSJUINJTUPSFUVSOBOEDPOUJOVFSVOOJOHUIFSFNBJOJOHTUFQT
    BTZODISPOPVTMZ NFBOJOHUIBUJUSVOTJOUIFCBDLHSPVOEXJUITDSJQUTBOEPUIFS UBTLT Q SVOOJOHJOQBSBMMFM*OBEEJUJPO
    UIJTBMHPSJUINJOUFSBDUTDMPTFMZXJUIUIF FWFOUMPPQ Q NFDIBOJTNJOQBSUJDVMBS JUIBT TZODISPOPVTTFDUJPOT Q XIJDI
    BSFUSJHHFSFEBTQBSUPGUIF FWFOUMPPQ Q BMHPSJUIN
    4UFQTJOTVDITFDUJPOTBSFNBSLFEXJUI 

     4FUUIF OFUXPSL4UBUF Q UP /&5803,@/0@4063$& Q 

     "TZODISPOPVTMZ BXBJUBTUBCMFTUBUF Q BMMPXJOHUIF UBTL Q UIBUJOWPLFEUIJTBMHPSJUINUPDPOUJOVF5IF


    TZODISPOPVTTFDUJPO Q DPOTJTUTPGBMMUIFSFNBJOJOHTUFQTPGUIJTBMHPSJUINVOUJMUIFBMHPSJUINTBZTUIF
    TZODISPOPVTTFDUJPO Q IBTFOEFE 4UFQTJO TZODISPOPVTTFDUJPOT Q BSFNBSLFEXJUI 

     *GUIF NFEJBFMFNFOU Q IBTB TSD Q BUUSJCVUF UIFOMFU <>34 CF 0CCA81DC4

    0UIFSXJTF JGUIF NFEJBFMFNFOU Q EPFTOPUIBWFB TSD Q BUUSJCVUFCVUIBTB TPVSDF Q FMFNFOUDIJME
    UIFOMFU <>34 CF 278;3A4= BOEMFU 20=3830C4 CFUIFИSTUTVDI TPVSDF Q FMFNFOUDIJMEJO USFFPSEFS Q 

    0UIFSXJTFUIF NFEJBFMFNFOU Q IBTOFJUIFSB TSD Q BUUSJCVUFOPSB TPVSDF Q FMFNFOUDIJMETFUUIF
    OFUXPSL4UBUF Q UP /&5803,@&.15: Q BOEBCPSUUIFTFTUFQTUIF TZODISPOPVTTFDUJPO Q FOET

     4FUUIF NFEJBFMFNFOU Q T EFMBZJOHUIFMPBEFWFOUЙBH Q UPUSVF UIJT EFMBZTUIFMPBEFWFOU Q


    BOETFU
    JUT OFUXPSL4UBUF Q UP /&5803,@-0"%*/( Q 

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBETUBSU Q BUUIF NFEJBFMFNFOU Q 

     *G <>34 JT 0CCA81DC4 UIFOSVOUIFTFTVCTUFQT

     &A>24BB20=3830C4*GUIF TSD Q BUUSJCVUFTWBMVFJTUIFFNQUZTUSJOH UIFOFOEUIF TZODISPOPVT


    TFDUJPO Q BOEKVNQEPXOUPUIF 508;43 TUFQCFMPX

    
     -FU 01B>;DC4+(" CFUIF BCTPMVUF63- Q UIBUXPVMEIBWFSFTVMUFEGSPN SFTPMWJOH Q UIF 63- Q
    TQFDJИFECZUIF TSD Q BUUSJCVUFTWBMVFSFMBUJWFUPUIF NFEJBFMFNFOU Q XIFOUIF TSD Q
    BUUSJCVUFXBTMBTUDIBOHFE

     *G 01B>;DC4+(" XBTPCUBJOFETVDDFTTGVMMZ TFUUIF DVSSFOU4SD Q BUUSJCVUFUP 01B>;DC4+("

     &OEUIF TZODISPOPVTTFDUJPO Q DPOUJOVJOHUIFSFNBJOJOHTUFQTBTZODISPOPVTMZ

     *G 01B>;DC4+(" XBTPCUBJOFETVDDFTTGVMMZ SVOUIF SFTPVSDFGFUDIBMHPSJUIN Q XJUI 01B>;DC4+("


    *GUIBUBMHPSJUINSFUVSOTXJUIPVUBCPSUJOH C78B POF UIFOUIFMPBEGBJMFE

     08;433FBDIJOHUIJTTUFQJOEJDBUFTUIBUUIFNFEJBSFTPVSDFGBJMFEUPMPBEPSUIBUUIFHJWFO 63- Q


    DPVMEOPUCF SFTPMWFE Q 4FUUIF FSSPS Q BUUSJCVUFUPBOFX .FEJB&SSPS Q PCKFDUXIPTF DPEF Q
    BUUSJCVUFJTTFUUP .&%*"@&33@43$@/05@4611035&% Q 

     4FUUIFFMFNFOUT OFUXPSL4UBUF Q BUUSJCVUFUPUIF /&5803,@/0@4063$& Q WBMVF

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FSSPS Q BUUIF NFEJBFMFNFOU Q 

     4FUUIFFMFNFOUT EFMBZJOHUIFMPBEFWFOUЙBH Q UPGBMTF5IJTTUPQT EFMBZJOHUIFMPBEFWFOU Q 

     "CPSUUIFTFTUFQT6OUJMUIF MPBE


    Q NFUIPEJTJOWPLFEPSUIF TSD Q BUUSJCVUFJTDIBOHFE UIF
    FMFNFOUXPOUBUUFNQUUPMPBEBOPUIFSSFTPVSDF

    0UIFSXJTF UIF TPVSDF Q FMFNFOUTXJMMCFVTFESVOUIFTFTVCTUFQT

     -FU ?>8=C4A CFBQPTJUJPOEFИOFECZUXPBEKBDFOUOPEFTJOUIF NFEJBFMFNFOU Q TDIJMEMJTU


    USFBUJOHUIFTUBSUPGUIFMJTU CFGPSFUIFИSTUDIJMEJOUIFMJTU JGBOZ
    BOEFOEPGUIFMJTU BGUFSUIFMBTU
    DIJMEJOUIFMJTU JGBOZ
    BTOPEFTJOUIFJSPXOSJHIU0OFOPEFJTUIFOPEFCFGPSF ?>8=C4A BOEUIF
    PUIFSOPEFJTUIFOPEFBGUFS ?>8=C4A*OJUJBMMZ MFU ?>8=C4A CFUIFQPTJUJPOCFUXFFOUIF 20=3830C4
    OPEFBOEUIFOFYUOPEF JGUIFSFBSFBOZ PSUIFFOEPGUIFMJTU JGJUJTUIFMBTUOPEF

    "TOPEFTBSFJOTFSUFEBOESFNPWFEJOUPUIF NFEJBFMFNFOU Q ?>8=C4A NVTUCFVQEBUFEBT


    GPMMPXT

    %@;H?QHI>?CMCHM?LN?><?NQ??HNB?NQIHI>?MNB;N>?]H? IHBGM>K
    -FU ?>8=C4A CFUIFQPJOUCFUXFFOUIFOPEFCFGPSF ?>8=C4A BOEUIFOFXOPEF*OPUIFSXPSET
    JOTFSUJPOTBU ?>8=C4A HPBGUFS ?>8=C4A

    %@NB?HI>?<?@IL? IHBGM>K CML?GIP?>


    -FU ?>8=C4A CFUIFQPJOUCFUXFFOUIFOPEFBGUFS ?>8=C4A BOEUIFOPEFCFGPSFUIFOPEFBGUFS
    ?>8=C4A*OPUIFSXPSET ?>8=C4A EPFTOUNPWFSFMBUJWFUPUIFSFNBJOJOHOPEFT

    %@NB?HI>?;@N?L IHBGM>K CML?GIP?>


    -FU ?>8=C4A CFUIFQPJOUCFUXFFOUIFOPEFCFGPSF ?>8=C4A BOEUIFOPEFBGUFSUIFOPEFCFGPSF
    ?>8=C4A+VTUBTXJUIUIFQSFWJPVTDBTF ?>8=C4A EPFTOUNPWFSFMBUJWFUPUIFSFNBJOJOHOPEFT

    0UIFSDIBOHFTEPOUBЗFDU ?>8=C4A

     &A>24BB20=3830C4*G 20=3830C4 EPFTOPUIBWFB TSD Q BUUSJCVUF PSJGJUT TSD Q BUUSJCVUFTWBMVF
    JTUIFFNQUZTUSJOH UIFOFOEUIF TZODISPOPVTTFDUJPO Q BOEKVNQEPXOUPUIF 508;43 TUFQCFMPX

     -FU 01B>;DC4+(" CFUIF BCTPMVUF63- Q UIBUXPVMEIBWFSFTVMUFEGSPN SFTPMWJOH Q UIF 63- Q
    TQFDJИFECZ 20=3830C4T TSD Q BUUSJCVUFTWBMVFSFMBUJWFUPUIF 20=3830C4 XIFOUIF TSD Q
    BUUSJCVUFXBTMBTUDIBOHFE

     *G 01B>;DC4+(" XBTOPUPCUBJOFETVDDFTTGVMMZ UIFOFOEUIF TZODISPOPVTTFDUJPO Q BOEKVNQ


    EPXOUPUIF 508;43 TUFQCFMPX

     *G 20=3830C4 IBTB UZQF Q BUUSJCVUFXIPTFWBMVF XIFOQBSTFEBTB .*.&UZQF Q JODMVEJOHBOZ
    DPEFDTEFTDSJCFECZUIF DPEFDT QBSBNFUFS
    SFQSFTFOUT BUZQFUIBUUIFVTFSBHFOULOPXTJUDBOOPU
    SFOEFS Q UIFOFOEUIF TZODISPOPVTTFDUJPO Q BOEKVNQEPXOUPUIF 508;43 TUFQCFMPX

     *G 20=3830C4 IBTB NFEJB Q BUUSJCVUFXIPTFWBMVFEPFTOPU NBUDIUIFFOWJSPONFOU Q UIFOFOE


    UIF TZODISPOPVTTFDUJPO Q BOEKVNQEPXOUPUIF 508;43 TUFQCFMPX

     4FUUIF DVSSFOU4SD Q BUUSJCVUFUP 01B>;DC4+("

     &OEUIF TZODISPOPVTTFDUJPO Q DPOUJOVJOHUIFSFNBJOJOHTUFQTBTZODISPOPVTMZ

    
     3VOUIF SFTPVSDFGFUDIBMHPSJUIN Q XJUI 01B>;DC4+("*GUIBUBMHPSJUINSFUVSOTXJUIPVUBCPSUJOH
    C78B POF UIFOUIFMPBEGBJMFE

     08;43 2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FSSPS BUUIF 20=3830C4 FMFNFOU JOUIF
    DPOUFYUPGUIF GFUDIJOHQSPDFTT Q UIBUXBTVTFEUPUSZUPPCUBJO 20=3830C4TDPSSFTQPOEJOH NFEJB
    SFTPVSDF Q JOUIF SFTPVSDFGFUDIBMHPSJUIN Q 

     "TZODISPOPVTMZ BXBJUBTUBCMFTUBUF Q 5IF TZODISPOPVTTFDUJPO Q DPOTJTUTPGBMMUIFSFNBJOJOH


    TUFQTPGUIJTBMHPSJUINVOUJMUIFBMHPSJUINTBZTUIF TZODISPOPVTTFDUJPO Q IBTFOEFE 4UFQTJO
    TZODISPOPVTTFDUJPOT Q BSFNBSLFEXJUI 

     8=3=4GC20=3830C4-FU 20=3830C4 CFOVMM

     )40A27;>>?*GUIFOPEFBGUFS ?>8=C4A JTUIFFOEPGUIFMJTU UIFOKVNQUPUIF F08C8=6 TUFQCFMPX

     *GUIFOPEFBGUFS ?>8=C4A JTB TPVSDF Q FMFNFOU MFU 20=3830C4 CFUIBUFMFNFOU

     "EWBODF ?>8=C4A TPUIBUUIFOPEFCFGPSF ?>8=C4A JTOPXUIFOPEFUIBUXBTBGUFS ?>8=C4A BOEUIF


    OPEFBGUFS ?>8=C4A JTUIFOPEFBGUFSUIFOPEFUIBUVTFEUPCFBGUFS ?>8=C4A JGBOZ

     *G 20=3830C4 JTOVMM KVNQCBDLUPUIF B40A27;>>? TUFQ0UIFSXJTF KVNQCBDLUPUIF ?A>24BB


    20=3830C4 TUFQ

     -08C8=64FUUIFFMFNFOUT OFUXPSL4UBUF Q BUUSJCVUFUPUIF /&5803,@/0@4063$& Q WBMVF

     4FUUIFFMFNFOUT EFMBZJOHUIFMPBEFWFOUЙBH Q UPGBMTF5IJTTUPQT EFMBZJOHUIFMPBEFWFOU Q 

     &OEUIF TZODISPOPVTTFDUJPO Q DPOUJOVJOHUIFSFNBJOJOHTUFQTBTZODISPOPVTMZ

     8BJUVOUJMUIFOPEFBGUFS ?>8=C4A JTBOPEFPUIFSUIBOUIFFOEPGUIFMJTU 5IJTTUFQNJHIUXBJU


    GPSFWFS

     "TZODISPOPVTMZ BXBJUBTUBCMFTUBUF Q 5IF TZODISPOPVTTFDUJPO Q DPOTJTUTPGBMMUIFSFNBJOJOH


    TUFQTPGUIJTBMHPSJUINVOUJMUIFBMHPSJUINTBZTUIF TZODISPOPVTTFDUJPO Q IBTFOEFE 4UFQTJO
    TZODISPOPVTTFDUJPOT Q BSFNBSLFEXJUI 

     4FUUIFFMFNFOUT EFMBZJOHUIFMPBEFWFOUЙBH Q CBDLUPUSVF UIJT EFMBZTUIFMPBEFWFOU Q


    BHBJO JODBTFJUIBTOUCFFOИSFEZFU
    

     4FUUIF OFUXPSL4UBUF Q CBDLUP /&5803,@-0"%*/( Q 

     +VNQCBDLUPUIF P=3=4GC20=3830C4 TUFQBCPWF

    5IF L?MIOL=?@?N=B;FAILCNBG GPSB NFEJBFMFNFOU Q BOEBHJWFO BCTPMVUF63- Q JTBTGPMMPXT

     -FUUIF 2DAA4=C<4380A4B>DA24 CFUIFSFTPVSDFHJWFOCZUIF BCTPMVUF63- Q QBTTFEUPUIJTBMHPSJUIN5IJTJT


    OPXUIFFMFNFOUT NFEJBSFTPVSDF Q 

     #FHJOUP GFUDI Q UIF 2DAA4=C<4380A4B>DA24 GSPNUIF NFEJBFMFNFOU Q T %PDVNFOU Q T PSJHJO Q 

    &WFSZNT oNT
    PSGPSFWFSZCZUFSFDFJWFE XIJDIFWFSJT ;40BC GSFRVFOU RVFVFBUBTL Q UP ИSFB
    TJNQMFFWFOU Q OBNFE QSPHSFTT Q BUUIFFMFNFOU

    *GBUBOZQPJOUUIFVTFSBHFOUIBTSFDFJWFEOPEBUBGPSNPSFUIBOBCPVUUISFFTFDPOET UIFO RVFVFBUBTL Q


    UP ИSFBTJNQMFFWFOU Q OBNFE TUBMMFE Q BUUIFFMFNFOU

    6TFSBHFOUTNBZBMMPXVTFSTUPTFMFDUJWFMZCMPDLPSTMPX NFEJBEBUB Q EPXOMPBET8IFOB NFEJB


    FMFNFOU Q TEPXOMPBEIBTCFFOCMPDLFEBMUPHFUIFS UIFVTFSBHFOUNVTUBDUBTJGJUXBTTUBMMFE BTPQQPTFE
    UPBDUJOHBTJGUIFDPOOFDUJPOXBTDMPTFE
    5IFSBUFPGUIFEPXOMPBENBZBMTPCFUISPUUMFEBVUPNBUJDBMMZCZ
    UIFVTFSBHFOU FHUPCBMBODFUIFEPXOMPBEXJUIPUIFSDPOOFDUJPOTTIBSJOHUIFTBNFCBOEXJEUI

    6TFSBHFOUTNBZEFDJEFUPOPUEPXOMPBENPSFDPOUFOUBUBOZUJNF FHBGUFSCVЗFSJOHИWFNJOVUFTPGBPOF
    IPVSNFEJBSFTPVSDF XIJMFXBJUJOHGPSUIFVTFSUPEFDJEFXIFUIFSUPQMBZUIFSFTPVSDFPSOPU PSXIJMF
    XBJUJOHGPSVTFSJOQVUJOBOJOUFSBDUJWFSFTPVSDF8IFOB NFEJBFMFNFOU Q TEPXOMPBEIBTCFFOTVTQFOEFE
    UIFVTFSBHFOUNVTUTFUUIF OFUXPSL4UBUF Q UP /&5803,@*%-& Q BOE RVFVFBUBTL Q UP ИSFBTJNQMF
    FWFOU Q OBNFE TVTQFOE Q BUUIFFMFNFOU*GBOEXIFOEPXOMPBEJOHPGUIFSFTPVSDFSFTVNFT UIFVTFS
    BHFOUNVTUTFUUIF OFUXPSL4UBUF Q UP /&5803,@-0"%*/( Q 

    
    *HM> 0A> IK>EH:= I :MMKB;NM>IKHOB=>L:ABGMK>@:K=BG@AHPFN<A;NZ>KBG@MA>:NMAHK
    MABGDLBL:=OBL:;E> >O>GBGMA>:;L>G<>H?MA> :NMHIE:R I :MMKB;NM>

    8IFOBVTFSBHFOUEFDJEFTUPDPNQMFUFMZTUBMMBEPXOMPBE FHJGJUJTXBJUJOHVOUJMUIFVTFSTUBSUTQMBZCBDL
    CFGPSFEPXOMPBEJOHBOZGVSUIFSDPOUFOU UIFFMFNFOUT EFMBZJOHUIFMPBEFWFOUЙBH Q NVTUCFTFUUPGBMTF
    5IJTTUPQT EFMBZJOHUIFMPBEFWFOU Q 

    5IFVTFSBHFOUNBZVTFXIBUFWFSNFBOTOFDFTTBSZUPGFUDIUIFSFTPVSDF XJUIJOUIFDPOTUSBJOUTQVUGPSXBSE
    CZUIJTBOEPUIFSTQFDJИDBUJPOT
    GPSFYBNQMF SFDPOOFDUJOHUPUIFTFSWFSJOUIFGBDFPGOFUXPSLFSSPST VTJOH
    )551SBOHFSFUSJFWBMSFRVFTUT PSTXJUDIJOHUPBTUSFBNJOHQSPUPDPM5IFVTFSBHFOUNVTUDPOTJEFSBSFTPVSDF
    FSSPOFPVTPOMZJGJUIBTHJWFOVQUSZJOHUPGFUDIJU

    5IF OFUXPSLJOHUBTLTPVSDF Q UBTLT Q UPQSPDFTTUIFEBUBBTJUJTCFJOHGFUDIFENVTU XIFOBQQSPQSJBUF


    JODMVEFUIFSFMFWBOUTVCTUFQTGSPNUIFGPMMPXJOHMJTU
    J
    X %@NB? G?>C;>;N; =;HHIN<?@?N=B?>;N;FF
    >O?NIH?NQILE?LLILM
    =;OMCHANB?OM?L;A?HN
    NIACP?OJNLSCHANI@?N=BNB?L?MIOL=?
    J
    X %@NB? G?>C;L?MIOL=? CM@IOH>NIB;P? IHN?HN 0SJ?G?N;>;N; J NB;N
    QB?HJ;LM?>;M;
    J
    )%)!NSJ? CH=FO>CHA;HS=I>?=M>?M=LC<?><SNB? >J?@>N J;L;G?N?L
    L?JL?M?HNM ;NSJ?
    NB;NNB?OM?L;A?HNEHIQMCN=;HHINL?H>?L J ?P?HC@NB?;=NO;F G?>C;>;N; J CMCH;
    MOJJILN?>@ILG;N
    J
    X %@NB? G?>C;>;N; =;H<?@?N=B?><ONCM@IOH><SCHMJ?=NCIHNI<?CH;HOHMOJJILN?>
    @ILG;N
    IL=;HINB?LQCM?HIN<?L?H>?L?>;N;FF
    %/4FSSPST )551YYBOEYYFSSPST BOEFRVJWBMFOUTJOPUIFSQSPUPDPMT
    BOEPUIFSGBUBMOFUXPSL
    FSSPSTUIBUPDDVSCFGPSFUIFVTFSBHFOUIBTFTUBCMJTIFEXIFUIFSUIF 2DAA4=C<4380A4B>DA24 JT
    VTBCMF BTXFMMBTUIFИMFVTJOHBOVOTVQQPSUFEDPOUBJOFSGPSNBU PSVTJOHVOTVQQPSUFEDPEFDTGPS
    BMMUIFEBUB NVTUDBVTFUIFVTFSBHFOUUPFYFDVUFUIFGPMMPXJOHTUFQT

     5IFVTFSBHFOUTIPVMEDBODFMUIFGFUDIJOHQSPDFTT

     "CPSUUIJTTVCBMHPSJUIN SFUVSOJOHUPUIF SFTPVSDFTFMFDUJPOBMHPSJUIN Q 


    J
    X +H=??HIOABI@NB? G?>C;>;N; B;M<??H@?N=B?>NI>?N?LGCH?NB?>OL;NCIHI@NB? G?>C;
    J
    L?MIOL=?
    CNM>CG?HMCIHM
    ;H>INB?LG?N;>;N;
    5IJTJOEJDBUFTUIBUUIFSFTPVSDFJTVTBCMF5IFVTFSBHFOUNVTUGPMMPXUIFTFTVCTUFQT

     4FUUIF DVSSFOUQMBZCBDLQPTJUJPO Q UPUIF FBSMJFTUQPTTJCMFQPTJUJPO Q 

     4FUUIF SFBEZ4UBUF Q BUUSJCVUFUP )"7&@.&5"%"5" Q 

     'PS WJEFP Q FMFNFOUT TFUUIF WJEFP8JEUI Q BOE WJEFP)FJHIU Q BUUSJCVUFT

     4FUUIF EVSBUJPO Q BUUSJCVUFUPUIFEVSBUJPOPGUIFSFTPVSDF

    *HM> 0A>NL>K:@>GM PBEE I JN>N>:M:LD I MH [K>:LBFIE>>O>GM I


    G:F>= =NK:MBHG<A:G@> I :MMA>>E>F>GM:MMABLIHBGM

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBEFENFUBEBUB Q BUUIFFMFNFOU

    *HM> >?HK>MABLM:LDBLKNG :LI:KMH?MA>>O>GMEHHIF><A:GBLF MA>


    K>G=>KBG@PBEEA:O>;>>GNI=:M>=MHK>LBS>MA> OB=>H I >E>F>GMB?
    :IIKHIKB:M>

     *GFJUIFSUIF NFEJBSFTPVSDF Q PSUIFBEESFTTPGUIF 2DAA4=C<4380A4B>DA24 JOEJDBUFB


    QBSUJDVMBSTUBSUUJNF UIFO TFFL Q UPUIBUUJNF*HOPSFBOZSFTVMUJOHFYDFQUJPOT JGUIF
    QPTJUJPOJTPVUPGSBOHF JUJTFЗFDUJWFMZJHOPSFE
    

    'PSFYBNQMF BGSBHNFOUJEFOUJИFSDPVMECFVTFEUPJOEJDBUFBTUBSUQPTJUJPO

     0ODFUIF SFBEZ4UBUF Q BUUSJCVUFSFBDIFT )"7&@$633&/5@%"5" Q BGUFSUIF MPBEFEEBUB


    FWFOUIBTCFFOИSFE Q TFUUIFFMFNFOUT EFMBZJOHUIFMPBEFWFOUЙBH Q UPGBMTF5IJT
    TUPQT EFMBZJOHUIFMPBEFWFOU Q 

    *HM> NL>K:@>GMMA:MBL:MM>FIMBG@MHK>=N<>G>MPHKDNL:@>PABE>
    LMBEE?>M<ABG@MA>F>M:=:M:?HK>:<A F>=B:K>LHNK<> I PHNE=:ELHLMHI

    
    ;NZ>KBG@:MMABLIHBGM <:NLBG@MA> G>MPHKD1M:M> I :MMKB;NM>MHLPBM<A
    MHMA> ,$25-0)9(#*$ I O:EN>

    *HM> 0A>NL>K:@>GMBL K>JNBK>= MH=>M>KFBG>MA>=NK:MBHGH?MA> F>=B:


    K>LHNK<> I :G=@HMAKHN@AMABLLM>I;>?HK>IE:RBG@

    J
    X +H=?NB??HNCL? G?>C;L?MIOL=? B;M<??H @?N=B?> J <ONJIN?HNC;FFS<?@IL?;HSI@CNB;M
    <??H>?=I>?>
    2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE QSPHSFTT Q BUUIF NFEJBFMFNFOU Q 

    X %@NB?=IHH?=NCIHCMCHN?LLOJN?>
    =;OMCHANB?OM?L;A?HNNIACP?OJNLSCHANI@?N=BNB?
    L?MIOL=?
    'BUBMOFUXPSLFSSPSTUIBUPDDVSBGUFSUIFVTFSBHFOUIBTFTUBCMJTIFEXIFUIFSUIF 2DAA4=C<4380
    A4B>DA24 JTVTBCMFNVTUDBVTFUIFVTFSBHFOUUPFYFDVUFUIFGPMMPXJOHTUFQT

     5IFVTFSBHFOUTIPVMEDBODFMUIFGFUDIJOHQSPDFTT

     4FUUIF FSSPS Q BUUSJCVUFUPBOFX .FEJB&SSPS Q PCKFDUXIPTF DPEF Q BUUSJCVUFJTTFU
    UP .&%*"@&33@/&5803, Q 

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FSSPS Q BUUIF NFEJBFMFNFOU Q 

     4FUUIFFMFNFOUT OFUXPSL4UBUF Q BUUSJCVUFUPUIF /&5803,@&.15: Q WBMVFBOE


    RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FNQUJFE Q BUUIFFMFNFOU

     4FUUIFFMFNFOUT EFMBZJOHUIFMPBEFWFOUЙBH Q UPGBMTF5IJTTUPQT EFMBZJOHUIFMPBE


    FWFOU Q 

     "CPSUUIFPWFSBMM SFTPVSDFTFMFDUJPOBMHPSJUIN Q 


    J
    X %@NB? G?>C;>;N; CM=ILLOJN?>
    'BUBMFSSPSTJOEFDPEJOHUIF NFEJBEBUB Q UIBUPDDVSBGUFSUIFVTFSBHFOUIBTFTUBCMJTIFEXIFUIFS
    UIF 2DAA4=C<4380A4B>DA24 JTVTBCMFNVTUDBVTFUIFVTFSBHFOUUPFYFDVUFUIFGPMMPXJOHTUFQT

     5IFVTFSBHFOUTIPVMEDBODFMUIFGFUDIJOHQSPDFTT

     4FUUIF FSSPS Q BUUSJCVUFUPBOFX .FEJB&SSPS Q PCKFDUXIPTF DPEF Q BUUSJCVUFJTTFU
    UP .&%*"@&33@%&$0%& Q 

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FSSPS Q BUUIF NFEJBFMFNFOU Q 

     4FUUIFFMFNFOUT OFUXPSL4UBUF Q BUUSJCVUFUPUIF /&5803,@&.15: Q WBMVFBOE


    RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FNQUJFE Q BUUIFFMFNFOU

     4FUUIFFMFNFOUT EFMBZJOHUIFMPBEFWFOUЙBH Q UPGBMTF5IJTTUPQT EFMBZJOHUIFMPBE


    FWFOU Q 

     "CPSUUIFPWFSBMM SFTPVSDFTFMFDUJPOBMHPSJUIN Q 


    J
    X %@NB? G?>C;>;N; @?N=BCHAJLI=?MMCM;<ILN?><SNB?OM?L
    5IFGFUDIJOHQSPDFTTJTBCPSUFECZUIFVTFS FHCFDBVTFUIFVTFSOBWJHBUFEUIFCSPXTJOHDPOUFYU
    UPBOPUIFSQBHF UIFVTFSBHFOUNVTUFYFDVUFUIFGPMMPXJOHTUFQT5IFTFTUFQTBSFOPUGPMMPXFEJG
    UIF MPBE
    Q NFUIPEJUTFMGJTJOWPLFEXIJMFUIFTFTUFQTBSFSVOOJOH BTUIFTUFQTBCPWFIBOEMF
    UIBUQBSUJDVMBSLJOEPGBCPSU

     5IFVTFSBHFOUTIPVMEDBODFMUIFGFUDIJOHQSPDFTT

     4FUUIF FSSPS Q BUUSJCVUFUPBOFX .FEJB&SSPS Q PCKFDUXIPTF DPEF Q BUUSJCVUFJTTFU
    UP .&%*"@&33@"#035&% Q 

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE BCPSU Q BUUIF NFEJBFMFNFOU Q 

     *GUIF NFEJBFMFNFOU Q T SFBEZ4UBUF Q BUUSJCVUFIBTBWBMVFFRVBMUP


    )"7&@/05)*/( Q TFUUIFFMFNFOUT OFUXPSL4UBUF Q BUUSJCVUFUPUIF
    /&5803,@&.15: Q WBMVFBOE RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE
    FNQUJFE Q BUUIFFMFNFOU0UIFSXJTF TFUUIFFMFNFOUT OFUXPSL4UBUF Q BUUSJCVUFUP
    UIF /&5803,@*%-& Q WBMVF

    
     4FUUIFFMFNFOUT EFMBZJOHUIFMPBEFWFOUЙBH Q UPGBMTF5IJTTUPQT EFMBZJOHUIFMPBE
    FWFOU Q 

     "CPSUUIFPWFSBMM SFTPVSDFTFMFDUJPOBMHPSJUIN Q 


    J
    X %@NB? G?>C;>;N; =;H<?@?N=B?><ONB;MHIH @;N;F?LLILMILOM?M
    CHJ;LN
    =I>?=MNB;N;L?
    OHMOJJILN?>
    JL?P?HNCHANB?OM?L;A?HN@LIGL?H>?LCHANB?=IHN?HN=IGJF?N?FS=ILL?=NFS<ON
    HINJL?P?HNCHAJF;S<;=E;FNIA?NB?L
    5IFTFSWFSSFUVSOJOHEBUBUIBUJTQBSUJBMMZVTBCMFCVUDBOOPUCFPQUJNBMMZSFOEFSFENVTUDBVTFUIF
    VTFSBHFOUUPSFOEFSKVTUUIFCJUTJUDBOIBOEMF BOEJHOPSFUIFSFTU

    8IFOUIF OFUXPSLJOHUBTLTPVSDF Q IBT RVFVFE Q UIFMBTU UBTL Q BTQBSUPG GFUDIJOH Q UIF NFEJB
    SFTPVSDF Q JFPODFUIFEPXOMPBEIBTDPNQMFUFE
    JGUIFGFUDIJOHQSPDFTTDPNQMFUFTXJUIPVUFSSPST
    JODMVEJOHEFDPEJOHUIFNFEJBEBUB BOEJGBMMPGUIFEBUBJTBWBJMBCMFUPUIFVTFSBHFOUXJUIPVUOFUXPSL
    BDDFTT UIFO UIFVTFSBHFOUNVTUNPWFPOUPUIFOFYUTUFQ5IJTNJHIUOFWFSIBQQFO FHXIFOTUSFBNJOH
    BOJOИOJUFSFTPVSDFTVDIBT8FCSBEJP PSJGUIFSFTPVSDFJTMPOHFSUIBOUIFVTFSBHFOUTBCJMJUZUPDBDIFEBUB

    8IJMFUIFVTFSBHFOUNJHIUTUJMMOFFEOFUXPSLBDDFTTUPPCUBJOQBSUTPGUIF NFEJBSFTPVSDF Q UIFVTFS


    BHFOUNVTUSFNBJOPOUIJTTUFQ

    'PSFYBNQMF JGUIFVTFSBHFOUIBTEJTDBSEFEUIFИSTUIBMGPGBWJEFP UIFVTFSBHFOUXJMMSFNBJOBUUIJT


    TUFQFWFOPODFUIF QMBZCBDLIBTFOEFE Q CFDBVTFUIFSFJTBMXBZTUIFDIBODFUIFVTFSXJMMTFFL
    CBDLUPUIFTUBSU*OGBDU JOUIJTTJUVBUJPO PODF QMBZCBDLIBTFOEFE Q UIFVTFSBHFOUXJMMFOEVQ
    EJTQBUDIJOHB TUBMMFE Q FWFOU BTEFTDSJCFEFBSMJFS

     *GUIFVTFSBHFOUFWFSSFBDIFTUIJTTUFQ XIJDIDBOPOMZIBQQFOJGUIFFOUJSFSFTPVSDFHFUTMPBEFEBOELFQU
    BWBJMBCMF
    BCPSUUIFPWFSBMM SFTPVSDFTFMFDUJPOBMHPSJUIN Q 

    5IF KM@GJ<? BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q 5IFGPMMPXJOHUBCMFMJTUTUIFLFZXPSETBOETUBUFTGPSUIFBUUSJCVUF


    ǡUIFLFZXPSETJOUIFMFGUDPMVNONBQUPUIFTUBUFTJOUIFDFMMJOUIFTFDPOEDPMVNOPOUIFTBNFSPXBTUIFLFZXPSE

    '?SQIL> /N;N? LC?@>?M=LCJNCIH

    IJI@ *IH? )JOUTUPUIFVTFSBHFOUUIBUFJUIFSUIFBVUIPSEPFTOPUFYQFDUUIFVTFSUPOFFEUIFNFEJBSFTPVSDF PSUIBUUIFTFSWFS


    XBOUTUPNJOJNJTFVOOFDFTTBSZUSBКD
    H@O<?<O< )?N;>;N; )JOUTUPUIFVTFSBHFOUUIBUUIFBVUIPSEPFTOPUFYQFDUUIFVTFSUPOFFEUIFNFEJBSFTPVSDF CVUUIBUGFUDIJOHUIF
    SFTPVSDFNFUBEBUB EJNFOTJPOT ИSTUGSBNF USBDLMJTU EVSBUJPO FUD
    JTSFBTPOBCMF
    <POJ ONIG;NC= )JOUTUPUIFVTFSBHFOUUIBUUIFVTFSBHFOUDBOQVUUIFVTFSTOFFETИSTUXJUIPVUSJTLUPUIFTFSWFS VQUPBOE
    JODMVEJOHPQUJNJTUJDBMMZEPXOMPBEJOHUIFFOUJSFSFTPVSDF

    5IFFNQUZTUSJOHJTBMTPBWBMJELFZXPSE BOENBQTUPUIF "VUPNBUJD Q TUBUF5IFBUUSJCVUFT <8BB8=6E0;D43450D;C JT


    VTFSBHFOUEFИOFE UIPVHIUIF .FUBEBUB Q TUBUFJTTVHHFTUFEBTBDPNQSPNJTFCFUXFFOSFEVDJOHTFSWFSMPBEBOE
    QSPWJEJOHBOPQUJNBMVTFSFYQFSJFODF

    5IF QSFMPBE Q BUUSJCVUFJTJOUFOEFEUPQSPWJEFBIJOUUPUIFVTFSBHFOUBCPVUXIBUUIFBVUIPSUIJOLTXJMMMFBEUPUIF


    CFTUVTFSFYQFSJFODF5IFBUUSJCVUFNBZCFJHOPSFEBMUPHFUIFS GPSFYBNQMFCBTFEPOFYQMJDJUVTFSQSFGFSFODFTPS
    CBTFEPOUIFBWBJMBCMFDPOOFDUJWJUZ

    5IF KM@GJ<? *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    *HM> 0A> :NMHIE:R I :MMKB;NM><:GHO>KKKB=>MA> IK>EH:= I :MMKB;NM>LBG<>B?MA>F>=B:IE:RL BM


    G:MNK:EERA:LMH;NZ>K[KLM K>@:K=E>LLH?MA>ABGM@BO>G;RMA> IK>EH:= I :MMKB;NM> %G<EN=BG@
    ;HMABLGHM:G>KKHK AHP>O>K

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    F>=B: =PAA@M@?
    3FUVSOTB 5JNF3BOHFT Q PCKFDUUIBUSFQSFTFOUTUIFSBOHFTPGUIF NFEJBSFTPVSDF Q UIBUUIFVTFSBHFOU
    IBTCVЗFSFE

    5IF =PAA@M@? BUUSJCVUFNVTUSFUVSOBOFXTUBUJD OPSNBMJ[FE 5JNF3BOHFT PCKFDU Q UIBUSFQSFTFOUTUIFSBOHFTPGUIF


    NFEJBSFTPVSDF Q JGBOZ UIBUUIFVTFSBHFOUIBTCVЗFSFE BUUIFUJNFUIFBUUSJCVUFJTFWBMVBUFE6TFSTBHFOUTNVTU
    BDDVSBUFMZEFUFSNJOFUIFSBOHFTBWBJMBCMF FWFOGPSNFEJBTUSFBNTXIFSFUIJTDBOPOMZCFEFUFSNJOFECZUFEJPVT
    JOTQFDUJPO

    
    *HM> 0RIB<:EERMABLPBEE;>:LBG@E>K:G@>:G<AHK>=:MMA>S>KHIHBGM ;NMB? > @ MA>NL>K:@>GM
    NL>L$00,K:G@>K>JN>LMLBGK>LIHGL>MHL>>DBG@ MA>GMA>K><HNE=;>FNEMBIE>K:G@>L

    6TFSBHFOUTNBZEJTDBSEQSFWJPVTMZCVЗFSFEEBUB

    *HM> 0ANL :MBF>IHLBMBHGBG<EN=>=PBMABG:K:G@>H?MA>H;C><MLK>MNKG;RMA> ;N??>K>= I


    :MMKB;NM>:MHG>MBF><:G>G=NI;>BG@GHMBG<EN=>=BGMA>K:G@>LH?H;C><MLK>MNKG>=;RMA>
    L:F>:MMKB;NM>:ME:M>KMBF>L

        +\M?NMCHNINB?G?>C;L?MIOL=?

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    F>=B: ?PM<ODJI K
    3FUVSOTUIFMFOHUIPGUIF NFEJBSFTPVSDF Q JOTFDPOET
    3FUVSOT/B/JGUIFEVSBUJPOJTOUBWBJMBCMF
    3FUVSOT*OИOJUZGPSVOCPVOEFETUSFBNT

    F>=B: >PMM@IO2DH@ K 7 O:EN> 8


    3FUVSOTUIF DVSSFOUQMBZCBDLQPTJUJPO Q JOTFDPOET
    $BOCFTFU UPTFFLUPUIFHJWFOUJNF
    8JMMUISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIFSFJTOPTFMFDUFE NFEJBSFTPVSDF Q 8JMMUISPXBO
    */%&9@4*;&@&33 Q FYDFQUJPOJGUIFHJWFOUJNFJTOPUXJUIJOUIFSBOHFTUPXIJDIUIFVTFSBHFOUDBOTFFL

    F>=B: NO<MO2DH@ K


    3FUVSOTUIF FBSMJFTUQPTTJCMFQPTJUJPO Q JOTFDPOET5IJTJTUIFUJNFGPSUIFTUBSUPGUIFDVSSFOUDMJQ*U
    NJHIUOPUCF[FSPJGUIFDMJQTUJNFMJOFJTOPU[FSPCBTFE PSJGUIFSFTPVSDFJTBTUSFBNJOHSFTPVSDF JO
    XIJDIDBTFJUHJWFTUIFFBSMJFTUUJNFUIBUUIFVTFSBHFOUJTBCMFUPTFFLCBDLUP
    

    5IF ?PM<ODJI BUUSJCVUFNVTUSFUVSOUIFMFOHUIPGUIF NFEJBSFTPVSDF Q JOTFDPOET*GOP NFEJBEBUB Q JTBWBJMBCMF


    UIFOUIFBUUSJCVUFTNVTUSFUVSOUIF/PUB/VNCFS /B/
    WBMVF*GUIF NFEJBSFTPVSDF Q JTLOPXOUPCFVOCPVOEFE
    FHBTUSFBNJOHSBEJP
    UIFOUIFBUUSJCVUFNVTUSFUVSOUIFQPTJUJWF*OИOJUZWBMVF

    5IFVTFSBHFOUNVTUEFUFSNJOFUIFEVSBUJPOPGUIF NFEJBSFTPVSDF Q CFGPSFQMBZJOHBOZQBSUPGUIF NFEJBEBUB Q


    BOECFGPSFTFUUJOH SFBEZ4UBUF Q UPBWBMVFFRVBMUPPSHSFBUFSUIBO )"7&@.&5"%"5" Q FWFOJGEPJOHTPSFRVJSFT
    TFFLJOHUPNVMUJQMFQBSUTPGUIFSFTPVSDF

    8IFOUIFMFOHUIPGUIF NFEJBSFTPVSDF Q DIBOHFT FHGSPNCFJOHVOLOPXOUPLOPXO PSGSPNBQSFWJPVTMZ


    FTUBCMJTIFEMFOHUIUPBOFXMFOHUI
    UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE
    EVSBUJPODIBOHF Q BUUIF NFEJBFMFNFOU Q 

    *GBOJOИOJUFTUSFBNFOETGPSTPNFSFBTPO UIFOUIFEVSBUJPOXPVMEDIBOHFGSPNQPTJUJWF*OИOJUZUPUIFUJNFPG
    UIFMBTUGSBNFPSTBNQMFJOUIFTUSFBN BOEUIF EVSBUJPODIBOHF Q FWFOUXPVMECFИSFE4JNJMBSMZ JGUIFVTFS
    BHFOUJOJUJBMMZFTUJNBUFEUIF NFEJBSFTPVSDF Q TEVSBUJPOJOTUFBEPGEFUFSNJOJOHJUQSFDJTFMZ BOEMBUFSSFWJTFT
    UIFFTUJNBUFCBTFEPOOFXJOGPSNBUJPO UIFOUIFEVSBUJPOXPVMEDIBOHFBOEUIF EVSBUJPODIBOHF Q FWFOU
    XPVMECFИSFE

    .FEJBFMFNFOUT Q IBWFB =OLL?HNJF;S<;=EJIMCNCIH XIJDINVTUJOJUJBMMZCF[FSP5IFDVSSFOUQPTJUJPOJTBUJNF

    5IF >PMM@IO2DH@ BUUSJCVUFNVTU POHFUUJOH SFUVSOUIF DVSSFOUQMBZCBDLQPTJUJPO Q FYQSFTTFEJOTFDPOET0O


    TFUUJOH UIFVTFSBHFOUNVTU TFFL Q UPUIFOFXWBMVF XIJDINJHIUSBJTFBOFYDFQUJPO
    

    *GUIF NFEJBSFTPVSDF Q JTBTUSFBNJOHSFTPVSDF UIFOUIFVTFSBHFOUNJHIUCFVOBCMFUPPCUBJODFSUBJOQBSUTPGUIF


    SFTPVSDFBGUFSJUIBTFYQJSFEGSPNJUTCVЗFS4JNJMBSMZ TPNF NFEJBSFTPVSDFT Q NJHIUIBWFBUJNFMJOFUIBUEPFTOU
    TUBSUBU[FSP5IF ?;LFC?MNJIMMC<F?JIMCNCIH JTUIFFBSMJFTUQPTJUJPOJOUIFTUSFBNPSSFTPVSDFUIBUUIFVTFSBHFOUDBO
    FWFSPCUBJOBHBJO

    5IF NO<MO2DH@ BUUSJCVUFNVTU POHFUUJOH SFUVSOUIF FBSMJFTUQPTTJCMFQPTJUJPO Q FYQSFTTFEJOTFDPOET

    8IFOUIF FBSMJFTUQPTTJCMFQPTJUJPO Q DIBOHFT UIFOJGUIF DVSSFOUQMBZCBDLQPTJUJPO Q JTCFGPSFUIF FBSMJFTUQPTTJCMF


    QPTJUJPO Q UIFVTFSBHFOUNVTU TFFL Q UPUIF FBSMJFTUQPTTJCMFQPTJUJPO Q PUIFSXJTF JGUIFVTFSBHFOUIBTOPUИSFE

    
    B UJNFVQEBUF Q FWFOUBUUIFFMFNFOUJOUIFQBTUUPNTBOEJTOPUTUJMMSVOOJOHFWFOUIBOEMFSTGPSTVDIBO
    FWFOU UIFOUIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE UJNFVQEBUF Q BUUIFFMFNFOU

    *HM> ><:NL>H?MA>:;HO>K>JNBK>F>GM:G=MA>K>JNBK>F>GMBGMA> K>LHNK<>?>M<A:E@HKBMAF I


    MA:MDB<DLBG PA>GMA>F>M:=:M:H?MA><EBI;><HF>LDGHPG I MA> <NKK>GMIE:R;:<DIHLBMBHG I
    <:GG>O>K;>E>LLMA:GMA> >:KEB>LMIHLLB;E>IHLBMBHG I

    6TFSBHFOUTNVTUBDUBTJGUIFUJNFMJOFPGUIF NFEJBSFTPVSDF Q JODSFBTFTMJOFBSMZTUBSUJOHGSPNUIF FBSMJFTUQPTTJCMF


    QPTJUJPO Q FWFOJGUIFVOEFSMZJOH NFEJBEBUB Q IBTPVUPGPSEFSPSFWFOPWFSMBQQJOHUJNFDPEFT

    'PSFYBNQMF JGUXPDMJQTIBWFCFFODPODBUFOBUFEJOUPPOFWJEFPИMF CVUUIFWJEFPGPSNBUFYQPTFTUIFPSJHJOBM


    UJNFTGPSUIFUXPDMJQT UIFWJEFPEBUBNJHIUFYQPTFBUJNFMJOFUIBUHPFT TBZ BOEUIFO
    )PXFWFS UIFVTFSBHFOUXPVMEOPUFYQPTFUIPTFUJNFTJUXPVMEJOTUFBEFYQPTFUIFUJNFTBT
    BOE BTBTJOHMFWJEFP

    5IF GJJK BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q UIBU JGTQFDJИFE JOEJDBUFTUIBUUIF NFEJBFMFNFOU Q JTUPTFFLCBDLUP
    UIFTUBSUPGUIF NFEJBSFTPVSDF Q VQPOSFBDIJOHUIFFOE

    5IF GJJK *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

        0B?L?;>SMN;N?M

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    F>=B: M@<?T1O<O@
    3FUVSOTBWBMVFUIBUFYQSFTTFTUIFDVSSFOUTUBUFPGUIFFMFNFOUXJUISFTQFDUUPSFOEFSJOHUIF DVSSFOU
    QMBZCBDLQPTJUJPO Q GSPNUIFDPEFTJOUIFMJTUCFMPX

    .FEJBFMFNFOUT Q IBWFB A403HBC0C4 XIJDIEFTDSJCFTUPXIBUEFHSFFUIFZBSFSFBEZUPCFSFOEFSFEBUUIF DVSSFOU


    QMBZCBDLQPTJUJPO Q 5IFQPTTJCMFWBMVFTBSFBTGPMMPXTUIFSFBEZTUBUFPGBNFEJBFMFNFOUBUBOZQBSUJDVMBSUJNFJT
    UIFHSFBUFTUWBMVFEFTDSJCJOHUIFTUBUFPGUIFFMFNFOU

    ' 4$9,-2'(,& HOG?LC=P;FO?


    /PJOGPSNBUJPOSFHBSEJOHUIF NFEJBSFTPVSDF Q JTBWBJMBCMF/PEBUBGPSUIF DVSSFOUQMBZCBDLQPTJUJPO Q JT
    BWBJMBCMF .FEJBFMFNFOUT Q XIPTF OFUXPSL4UBUF Q BUUSJCVUFJT /&5803,@&.15: Q BSFBMXBZTJOUIF
    )"7&@/05)*/( Q TUBUF

    ' 4$9+$2 # 2 HOG?LC=P;FO?


    &OPVHIPGUIFSFTPVSDFIBTCFFOPCUBJOFEUIBUUIFEVSBUJPOPGUIFSFTPVSDFJTBWBJMBCMF*OUIFDBTFPGB
    WJEFP Q FMFNFOU UIFEJNFOTJPOTPGUIFWJEFPBSFBMTPBWBJMBCMF5IF"1*XJMMOPMPOHFSSBJTFBOFYDFQUJPOXIFO
    TFFLJOH/P NFEJBEBUB Q JTBWBJMBCMFGPSUIFJNNFEJBUF DVSSFOUQMBZCBDLQPTJUJPO Q 

    ' 4$9"300$,29# 2 HOG?LC=P;FO?


    %BUBGPSUIFJNNFEJBUF DVSSFOUQMBZCBDLQPTJUJPO Q JTBWBJMBCMF CVUFJUIFSOPUFOPVHIEBUBJTBWBJMBCMFUIBUUIF
    VTFSBHFOUDPVMETVDDFTTGVMMZBEWBODFUIF DVSSFOUQMBZCBDLQPTJUJPO Q JOUIF EJSFDUJPOPGQMBZCBDL Q BUBMM
    XJUIPVUJNNFEJBUFMZSFWFSUJOHUPUIF )"7&@.&5"%"5" Q TUBUF PSUIFSFJTOPNPSFEBUBUPPCUBJOJOUIF EJSFDUJPO
    PGQMBZCBDL Q 'PSFYBNQMF JOWJEFPUIJTDPSSFTQPOETUPUIFVTFSBHFOUIBWJOHEBUBGSPNUIFDVSSFOUGSBNF CVU
    OPUUIFOFYUGSBNFBOEUPXIFO QMBZCBDLIBTFOEFE Q 

    ' 4$9%3230$9# 2 HOG?LC=P;FO?


    %BUBGPSUIFJNNFEJBUF DVSSFOUQMBZCBDLQPTJUJPO Q JTBWBJMBCMF BTXFMMBTFOPVHIEBUBGPSUIFVTFSBHFOUUP
    BEWBODFUIF DVSSFOUQMBZCBDLQPTJUJPO Q JOUIF EJSFDUJPOPGQMBZCBDL Q BUMFBTUBMJUUMFXJUIPVUJNNFEJBUFMZ
    SFWFSUJOHUPUIF )"7&@.&5"%"5" Q TUBUF'PSFYBNQMF JOWJEFPUIJTDPSSFTQPOETUPUIFVTFSBHFOUIBWJOHEBUB
    GPSBUMFBTUUIFDVSSFOUGSBNFBOEUIFOFYUGSBNF5IFVTFSBHFOUDBOOPUCFJOUIJTTUBUFJG QMBZCBDLIBT
    FOEFE Q BTUIF DVSSFOUQMBZCBDLQPTJUJPO Q DBOOFWFSBEWBODFJOUIJTDBTF

    ' 4$9$,-3&'9# 2 HOG?LC=P;FO?


    "MMUIFDPOEJUJPOTEFTDSJCFEGPSUIF )"7&@'6563&@%"5" Q TUBUFBSFNFU BOE JOBEEJUJPO UIFVTFSBHFOU
    FTUJNBUFTUIBUEBUBJTCFJOHGFUDIFEBUBSBUFXIFSFUIF DVSSFOUQMBZCBDLQPTJUJPO Q JGJUXFSFUPBEWBODFBUUIF
    SBUFHJWFOCZUIF EFGBVMU1MBZCBDL3BUF Q BUUSJCVUF XPVMEOPUPWFSUBLFUIFBWBJMBCMFEBUBCFGPSFQMBZCBDL
    SFBDIFTUIFFOEPGUIF NFEJBSFTPVSDF Q 

    8IFOUIFSFBEZTUBUFPGB NFEJBFMFNFOU Q XIPTF OFUXPSL4UBUF Q JTOPU /&5803,@&.15: Q DIBOHFT UIFVTFS
    BHFOUNVTUGPMMPXUIFTUFQTHJWFOCFMPX

    
    K
    X %@NB?JL?PCIOML?;>SMN;N?Q;M &4#;,-2&',%
    ;H>NB?H?QL?;>SMN;N?CM &4#;+#2"2 K

    *HM>  EH:=>=F>M:=:M: I +)>O>GM PBEE;>[K>= I :LI:KMH?MA> EH:= I :E@HKBMAF

    K
    X %@NB?JL?PCIOML?;>SMN;N?Q;M &4#;+#2"2 ;H>NB?H?QL?;>SMN;N?CM &4#;!300#,2;"2 K IL
    AL?;N?L
    *GUIJTJTUIFИSTUUJNFUIJTPDDVSTGPSUIJT NFEJBFMFNFOU Q TJODFUIF MPBE
    Q BMHPSJUINXBTMBTUJOWPLFE
    UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBEFEEBUB Q BUUIFFMFNFOU

    *GUIFOFXSFBEZTUBUFJT )"7&@'6563&@%"5" Q PS )"7&@&/06()@%"5" Q UIFOUIFSFMFWBOUTUFQTCFMPXNVTU


    UIFOCFSVOBMTP
    K
    X %@NB?JL?PCIOML?;>SMN;N?Q;M &4#;$3230#;"2 ILGIL?
    ;H>NB?H?QL?;>SMN;N?CM
    K
    &4#;!300#,2;"2 ILF?MM

    *HM>  P:BMBG@ I +)>O>GM <:G;>[K>= I =>I>G=BG@HGMA><NKK>GMLM:M>H?


    IE:R;:<D

    K
    X %@NB?JL?PCIOML?;>SMN;N?Q;M &4#;!300#,2;"2 ILF?MM
    ;H>NB?H?QL?;>SMN;N?CM
    &4#;$3230#;"2 K
    5IFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE DBOQMBZ Q 

    *GUIFFMFNFOUJT QPUFOUJBMMZQMBZJOH Q UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q


    OBNFE QMBZJOH Q 
    K
    X %@NB?H?QL?;>SMN;N?CM &4#;#,-3%&;"2
    *GUIFQSFWJPVTSFBEZTUBUFXBT )"7&@$633&/5@%"5" Q PSMFTT UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFB
    TJNQMFFWFOU Q OBNFE DBOQMBZ Q BOE JGUIFFMFNFOUJTBMTP QPUFOUJBMMZQMBZJOH Q RVFVFBUBTL Q UP
    ИSFBTJNQMFFWFOU Q OBNFE QMBZJOH Q 

    *GUIF BVUPQMBZJOHЙBH Q JTUSVF BOEUIF QBVTFE Q BUUSJCVUFJTUSVF BOEUIF NFEJBFMFNFOU Q IBTBO
    BVUPQMBZ Q BUUSJCVUFTQFDJИFE BOEUIF NFEJBFMFNFOU Q JTJOB %PDVNFOU Q XIPTF CSPXTJOHDPOUFYU Q
    EJEOPUIBWFUIF TBOECPYFEBVUPNBUJDGFBUVSFTCSPXTJOHDPOUFYUЙBH Q TFUXIFOUIF %PDVNFOU Q XBT
    DSFBUFE UIFOUIFVTFSBHFOUNBZBMTPTFUUIF QBVTFE Q BUUSJCVUFUPGBMTF RVFVFBUBTL Q UP ИSFBTJNQMF
    FWFOU Q OBNFE QMBZ Q BOE RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE QMBZJOH Q 

    *HM> 1L>K:@>GML:K>GHMK>JNBK>=MH:NMHIE:R :G=BMBLLN@@>LM>=MA:MNL>K:@>GML


    AHGHKNL>KIK>?>K>G<>LHGMA>F:MM>K NMAHKL:K>NK@>=MHNL>MA> :NMHIE:R I :MMKB;NM>
    K:MA>KMA:GNLBG@L<KBIMMH?HK<>MA>OB=>HMHIE:R LH:LMH:EEHPMA>NL>KMHHO>KKB=>MA>
    ;>A:OBHKB?LH=>LBK>=

    *OBOZDBTF UIFVTFSBHFOUNVTUИOBMMZ RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE


    DBOQMBZUISPVHI Q 

    *HM> %MBLIHLLB;E>?HKMA>K>:=RLM:M>H?:F>=B:>E>F>GMMHCNFI;>MP>>GMA>L>LM:M>L
    =BL<HGMBGNHNLER "HK>Q:FIE> MA>LM:M>H?:F>=B:>E>F>GM<:GCNFILMK:B@AM?KHF
    ' 4$9+$2 # 2 I MH ' 4$9$,-3&'9# 2 I PBMAHNMI:LLBG@MAKHN@AMA> ' 4$9"300$,29# 2 I :G=
    ' 4$9%3230$9# 2 I LM:M>L

    5IF M@<?T1O<O@ *%-BUUSJCVUFNVTU POHFUUJOH SFUVSOUIFWBMVFEFTDSJCFEBCPWFUIBUEFTDSJCFTUIFDVSSFOUSFBEZ


    TUBUFPGUIF NFEJBFMFNFOU Q 

    5IF <POJKG<T BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q 8IFOQSFTFOU UIFVTFSBHFOU BTEFTDSJCFEJOUIFBMHPSJUIN


    EFTDSJCFEIFSFJO
    XJMMBVUPNBUJDBMMZCFHJOQMBZCBDLPGUIF NFEJBSFTPVSDF Q BTTPPOBTJUDBOEPTPXJUIPVUTUPQQJOH

    *HM> NMAHKL:K>NK@>=MHNL>MA> :NMHIE:R I :MMKB;NM>K:MA>KMA:GNLBG@L<KBIMMHMKB@@>K


    :NMHF:MB<IE:R;:<D :LMABL:EEHPLMA>NL>KMHHO>KKB=>MA>:NMHF:MB<IE:R;:<DPA>GBMBLGHM
    =>LBK>= > @ PA>GNLBG@:L<K>>GK>:=>K NMAHKL:K>:ELH>G<HNK:@>=MH<HGLB=>KGHMNLBG@MA>
    :NMHF:MB<IE:R;:<D;>A:OBHK:M:EE :G=BGLM>:=MHE>MMA>NL>K:@>GMP:BM?HKMA>NL>KMHLM:KM
    IE:R;:<D>QIEB<BMER

    5IF <POJKG<T *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    
        ,F;SCHANB?G?>C;L?MIOL=?

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    F>=B: K<PN@?
    3FUVSOTUSVFJGQMBZCBDLJTQBVTFEGBMTFPUIFSXJTF

    F>=B: @I?@? K


    3FUVSOTUSVFJGQMBZCBDLIBTSFBDIFEUIFFOEPGUIF NFEJBSFTPVSDF Q 

    F>=B: ?@A<PGO.G<T=<>F0<O@ K 7 O:EN> 8


    3FUVSOTUIFEFGBVMUSBUFPGQMBZCBDL GPSXIFOUIFVTFSJTOPUGBTUGPSXBSEJOHPSSFWFSTJOHUISPVHIUIF
    NFEJBSFTPVSDF Q 
    $BOCFTFU UPDIBOHFUIFEFGBVMUSBUFPGQMBZCBDL
    5IFEFGBVMUSBUFIBTOPEJSFDUFЗFDUPOQMBZCBDL CVUJGUIFVTFSTXJUDIFTUPBGBTUGPSXBSENPEF XIFO
    UIFZSFUVSOUPUIFOPSNBMQMBZCBDLNPEF JUJTFYQFDUFEUIBUUIFSBUFPGQMBZCBDLXJMMCFSFUVSOFEUPUIF
    EFGBVMUSBUFPGQMBZCBDL

    F>=B: KG<T=<>F0<O@ K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUSBUFQMBZCBDL XIFSFJTOPSNBMTQFFE
    $BOCFTFU UPDIBOHFUIFSBUFPGQMBZCBDL

    F>=B: KG<T@? K


    3FUVSOTB 5JNF3BOHFT Q PCKFDUUIBUSFQSFTFOUTUIFSBOHFTPGUIF NFEJBSFTPVSDF Q UIBUUIFVTFSBHFOU
    IBTQMBZFE

    F>=B: KG<T K 


    4FUTUIF QBVTFE Q BUUSJCVUFUPGBMTF MPBEJOHUIF NFEJBSFTPVSDF Q BOECFHJOOJOHQMBZCBDLJGOFDFTTBSZ
    *GUIFQMBZCBDLIBEFOEFE XJMMSFTUBSUJUGSPNUIFTUBSU

    F>=B: K<PN@ K 


    4FUTUIF QBVTFE Q BUUSJCVUFUPUSVF MPBEJOHUIF NFEJBSFTPVSDF Q JGOFDFTTBSZ

    5IF K<PN@? BUUSJCVUFSFQSFTFOUTXIFUIFSUIF NFEJBFMFNFOU Q JTQBVTFEPSOPU5IFBUUSJCVUFNVTUJOJUJBMMZCFUSVF

    " NFEJBFMFNFOU Q JTTBJEUPCF JIN?HNC;FFSJF;SCHA XIFOJUT QBVTFE Q BUUSJCVUFJTGBMTF UIF SFBEZ4UBUF Q
    BUUSJCVUFJTFJUIFS )"7&@'6563&@%"5" Q PS )"7&@&/06()@%"5" Q UIFFMFNFOUIBTOPU FOEFEQMBZCBDL Q QMBZCBDL
    IBTOPU TUPQQFEEVFUPFSSPST Q BOEUIFFMFNFOUIBTOPU QBVTFEGPSVTFSJOUFSBDUJPO Q 

    " NFEJBFMFNFOU Q JTTBJEUPIBWF ?H>?>JF;S<;=E XIFOUIFFMFNFOUT SFBEZ4UBUF Q BUUSJCVUFJT


    )"7&@.&5"%"5" Q PSHSFBUFS BOEFJUIFSUIF DVSSFOUQMBZCBDLQPTJUJPO Q JTUIFFOEPGUIF NFEJBSFTPVSDF Q BOEUIF
    EJSFDUJPOPGQMBZCBDL Q JTGPSXBSETBOEUIF NFEJBFMFNFOU Q EPFTOPUIBWFB MPPQ Q BUUSJCVUFTQFDJИFE PSUIF
    DVSSFOUQMBZCBDLQPTJUJPO Q JTUIF FBSMJFTUQPTTJCMFQPTJUJPO Q BOEUIF EJSFDUJPOPGQMBZCBDL Q JTCBDLXBSET

    5IF @I?@? BUUSJCVUFNVTUSFUVSOUSVFJGUIF NFEJBFMFNFOU Q IBT FOEFEQMBZCBDL Q BOEUIF EJSFDUJPOPGQMBZCBDL Q
    JTGPSXBSET BOEGBMTFPUIFSXJTF

    " NFEJBFMFNFOU Q JTTBJEUPIBWF MNIJJ?>>O?NI?LLILM XIFOUIFFMFNFOUT SFBEZ4UBUF Q BUUSJCVUFJT


    )"7&@.&5"%"5" Q PSHSFBUFS BOEUIFVTFSBHFOU FODPVOUFSTBOPOGBUBMFSSPS Q EVSJOHUIFQSPDFTTJOHPGUIF NFEJB
    EBUB Q BOEEVFUPUIBUFSSPS JTOPUBCMFUPQMBZUIFDPOUFOUBUUIF DVSSFOUQMBZCBDLQPTJUJPO Q 

    " NFEJBFMFNFOU Q JTTBJEUPIBWF J;OM?>@ILOM?LCHN?L;=NCIH XIFOJUT QBVTFE Q BUUSJCVUFJTGBMTF UIF
    SFBEZ4UBUF Q BUUSJCVUFJTFJUIFS )"7&@'6563&@%"5" Q PS )"7&@&/06()@%"5" Q BOEUIFVTFSBHFOUIBTSFBDIFEB
    QPJOUJOUIF NFEJBSFTPVSDF Q XIFSFUIFVTFSIBTUPNBLFBTFMFDUJPOGPSUIFSFTPVSDFUPDPOUJOVF

    *UJTQPTTJCMFGPSB NFEJBFMFNFOU Q UPIBWFCPUI FOEFEQMBZCBDL Q BOE QBVTFEGPSVTFSJOUFSBDUJPO Q BUUIFTBNF
    UJNF

    8IFOB NFEJBFMFNFOU Q UIBUJT QPUFOUJBMMZQMBZJOH Q TUPQTQMBZJOHCFDBVTFJUIBT QBVTFEGPSVTFSJOUFSBDUJPO Q


    UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE UJNFVQEBUF Q BUUIFFMFNFOU

    8IFOB NFEJBFMFNFOU Q UIBUJT QPUFOUJBMMZQMBZJOH Q TUPQTQMBZJOHCFDBVTFJUT SFBEZ4UBUF Q BUUSJCVUFDIBOHFTUP
    BWBMVFMPXFSUIBO )"7&@'6563&@%"5" Q XJUIPVUUIFFMFNFOUIBWJOH FOEFEQMBZCBDL Q PSQMBZCBDLIBWJOH TUPQQFE

    
    EVFUPFSSPST Q PSQMBZCBDLIBWJOH QBVTFEGPSVTFSJOUFSBDUJPO Q PSUIF TFFLJOHBMHPSJUIN Q CFJOHJOWPLFE UIF
    VTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE UJNFVQEBUF Q BUUIFFMFNFOU BOE RVFVFB
    UBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE XBJUJOH Q BUUIFFMFNFOU

    8IFOUIF DVSSFOUQMBZCBDLQPTJUJPO Q SFBDIFTUIFFOEPGUIF NFEJBSFTPVSDF Q XIFOUIF EJSFDUJPOPGQMBZCBDL Q JT


    GPSXBSET UIFOUIFVTFSBHFOUNVTUGPMMPXUIFTFTUFQT

     *GUIF NFEJBFMFNFOU Q IBTB MPPQ Q BUUSJCVUFTQFDJИFE UIFO TFFL Q UPUIF FBSMJFTUQPTTJCMFQPTJUJPO Q
    PGUIF NFEJBSFTPVSDF Q BOEBCPSUUIFTFTUFQT

     4UPQQMBZCBDL

    *HM> 0A> >G=>= I :MMKB;NM>;><HF>LMKN>

     5IFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE UJNFVQEBUF Q BUUIFFMFNFOU

     5IFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FOEFE Q BUUIFFMFNFOU

    8IFOUIF DVSSFOUQMBZCBDLQPTJUJPO Q SFBDIFTUIF FBSMJFTUQPTTJCMFQPTJUJPO Q PGUIF NFEJBSFTPVSDF Q XIFOUIF
    EJSFDUJPOPGQMBZCBDL Q JTCBDLXBSET UIFOUIFVTFSBHFOUNVTUGPMMPXUIFTFTUFQT

     4UPQQMBZCBDL

     5IFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE UJNFVQEBUF Q BUUIFFMFNFOU

    5IF ?@A<PGO.G<T=<>F0<O@ BUUSJCVUFHJWFTUIFEFTJSFETQFFEBUXIJDIUIF NFEJBSFTPVSDF Q JTUPQMBZ BTBNVMUJQMF


    PGJUTJOUSJOTJDTQFFE5IFBUUSJCVUFJTNVUBCMFPOHFUUJOHJUNVTUSFUVSOUIFMBTUWBMVFJUXBTTFUUP PSJGJUIBTOU
    ZFUCFFOTFUPOTFUUJOHUIFBUUSJCVUFNVTUCFTFUUPUIFOFXWBMVF

    5IF KG<T=<>F0<O@ BUUSJCVUFHJWFTUIFTQFFEBUXIJDIUIF NFEJBSFTPVSDF Q QMBZT BTBNVMUJQMFPGJUTJOUSJOTJDTQFFE


    *GJUJTOPUFRVBMUPUIF EFGBVMU1MBZCBDL3BUF Q UIFOUIFJNQMJDBUJPOJTUIBUUIFVTFSJTVTJOHBGFBUVSFTVDIBTGBTU
    GPSXBSEPSTMPXNPUJPOQMBZCBDL5IFBUUSJCVUFJTNVUBCMFPOHFUUJOHJUNVTUSFUVSOUIFMBTUWBMVFJUXBTTFUUP PS
    JGJUIBTOUZFUCFFOTFUPOTFUUJOHUIFBUUSJCVUFNVTUCFTFUUPUIFOFXWBMVF BOEUIFQMBZCBDLNVTUDIBOHFTQFFE JG
    UIFFMFNFOUJT QPUFOUJBMMZQMBZJOH Q
    

    *GUIF QMBZCBDL3BUF Q JTQPTJUJWFPS[FSP UIFOUIF >CL?=NCIHI@JF;S<;=E JTGPSXBSET0UIFSXJTF JUJTCBDLXBSET

    5IFQMBZGVODUJPOJOBVTFSBHFOUTJOUFSGBDFNVTUTFUUIF QMBZCBDL3BUF Q BUUSJCVUFUPUIFWBMVFPGUIF


    EFGBVMU1MBZCBDL3BUF Q BUUSJCVUFCFGPSFJOWPLJOHUIF QMBZ
    Q NFUIPETTUFQT'FBUVSFTTVDIBTGBTUGPSXBSEPS
    SFXJOENVTUCFJNQMFNFOUFECZPOMZDIBOHJOHUIF QMBZCBDL3BUF Q BUUSJCVUF

    8IFOUIF EFGBVMU1MBZCBDL3BUF Q PS QMBZCBDL3BUF Q BUUSJCVUFTDIBOHFWBMVF FJUIFSCZCFJOHTFUCZTDSJQUPSCZ


    CFJOHDIBOHFEEJSFDUMZCZUIFVTFSBHFOU FHJOSFTQPOTFUPVTFSDPOUSPM
    UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSF
    BTJNQMFFWFOU Q OBNFE SBUFDIBOHF Q BUUIF NFEJBFMFNFOU Q 

    5IF KG<T@? BUUSJCVUFNVTUSFUVSOBOFXTUBUJD OPSNBMJ[FE 5JNF3BOHFT PCKFDU Q UIBUSFQSFTFOUTUIFSBOHFTPGUIF


    NFEJBSFTPVSDF Q JGBOZ UIBUUIFVTFSBHFOUIBTTPGBSSFOEFSFE BUUIFUJNFUIFBUUSJCVUFJTFWBMVBUFE

    8IFOUIF KG<T NFUIPEPOB NFEJBFMFNFOU Q JTJOWPLFE UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     *GUIF NFEJBFMFNFOU Q T OFUXPSL4UBUF Q BUUSJCVUFIBTUIFWBMVF /&5803,@&.15: Q JOWPLFUIF NFEJB
    FMFNFOU Q T SFTPVSDFTFMFDUJPOBMHPSJUIN Q 

     *GUIF QMBZCBDLIBTFOEFE Q BOEUIF EJSFDUJPOPGQMBZCBDL Q JTGPSXBSET TFFL Q UPUIF FBSMJFTUQPTTJCMF
    QPTJUJPO Q PGUIF NFEJBSFTPVSDF Q 

    *HM> 0ABL PBEE<:NL> I MA>NL>K:@>GMMH JN>N>:M:LD I MH [K>:LBFIE>>O>GM I


    G:F>= MBF>NI=:M> I :MMA> F>=B:>E>F>GM I

     *GUIF NFEJBFMFNFOU Q T QBVTFE Q BUUSJCVUFJTUSVF SVOUIFGPMMPXJOHTVCTUFQT

     $IBOHFUIFWBMVFPG QBVTFE Q UPGBMTF

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE QMBZ Q BUUIFFMFNFOU

     *GUIF NFEJBFMFNFOU Q T SFBEZ4UBUF Q BUUSJCVUFIBTUIFWBMVF )"7&@/05)*/( Q


    )"7&@.&5"%"5" Q PS )"7&@$633&/5@%"5" Q RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE
    XBJUJOH Q BUUIFFMFNFOU

    
     0UIFSXJTF UIF NFEJBFMFNFOU Q T SFBEZ4UBUF Q BUUSJCVUFIBTUIFWBMVF )"7&@'6563&@%"5" Q
    PS )"7&@&/06()@%"5" Q  RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE QMBZJOH Q BUUIF
    FMFNFOU

     4FUUIF NFEJBFMFNFOU Q T BVUPQMBZJOHЙBH Q UPGBMTF

    8IFOUIF K<PN@ NFUIPEJTJOWPLFE UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     *GUIF NFEJBFMFNFOU Q T OFUXPSL4UBUF Q BUUSJCVUFIBTUIFWBMVF /&5803,@&.15: Q JOWPLFUIF NFEJB
    FMFNFOU Q T SFTPVSDFTFMFDUJPOBMHPSJUIN Q 

     4FUUIF NFEJBFMFNFOU Q T BVUPQMBZJOHЙBH Q UPGBMTF

     *GUIF NFEJBFMFNFOU Q T QBVTFE Q BUUSJCVUFJTGBMTF SVOUIFGPMMPXJOHTUFQT

     $IBOHFUIFWBMVFPG QBVTFE Q UPUSVF

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE UJNFVQEBUF Q BUUIFFMFNFOU

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE QBVTF Q BUUIFFMFNFOU

    8IFOB NFEJBFMFNFOU Q JT QPUFOUJBMMZQMBZJOH Q BOEJUT %PDVNFOU Q JTB GVMMZBDUJWF Q %PDVNFOU Q JUT DVSSFOU
    QMBZCBDLQPTJUJPO Q NVTUJODSFBTFNPOPUPOJDBMMZBU QMBZCBDL3BUF Q VOJUTPGNFEJBUJNFQFSVOJUUJNFPGXBMMDMPDL
    UJNF

    *HM> 0ABLLI><B[<:MBHG=H>LGM=>[G>AHPMA>NL>K:@>GM:<AB>O>LMA>:IIKHIKB:M>IE:R;:<DK:M>
    W=>I>G=BG@HGMA>IKHMH<HE:G=F>=B::O:BE:;E> BMBLIE:NLB;E>MA:MMA>NL>K:@>GM<HNE=
    G>@HMB:M>PBMAMA>L>KO>KMHA:O>MA>L>KO>KIKHOB=>MA>F>=B:=:M::MMA>:IIKHIKB:M>K:M> LH
    MA:M>Q<>IM?HKMA>I>KBH=;>MP>>GPA>GMA>K:M>BL<A:G@>=:G=PA>GMA>L>KO>KNI=:M>LMA>
    LMK>:FLIE:R;:<DK:M>MA><EB>GM=H>LGM:<MN:EERA:O>MH=KHIHKBGM>KIHE:M>:GR?K:F>L

    8IFOUIF QMBZCBDL3BUF Q JTOFHBUJWF QMBZCBDLJTCBDLXBSET


    BOZDPSSFTQPOEJOHBVEJPNVTUCFNVUFE8IFOUIF
    QMBZCBDL3BUF Q JTTPMPXPSTPIJHIUIBUUIFVTFSBHFOUDBOOPUQMBZBVEJPVTFGVMMZ UIFDPSSFTQPOEJOHBVEJPNVTU
    BMTPCFNVUFE*GUIF QMBZCBDL3BUF Q JTOPU UIFVTFSBHFOUNBZBQQMZQJUDIBEKVTUNFOUTUPUIFBVEJPBT
    OFDFTTBSZUPSFOEFSJUGBJUIGVMMZ

    5IF QMBZCBDL3BUF Q DBOCF JOXIJDIDBTFUIF DVSSFOUQMBZCBDLQPTJUJPO Q EPFTOUNPWF EFTQJUFQMBZCBDLOPU


    CFJOHQBVTFE QBVTFE Q EPFTOUCFDPNFUSVF BOEUIF QBVTF Q FWFOUEPFTOUИSF
    

    .FEJBFMFNFOUT Q UIBUBSF QPUFOUJBMMZQMBZJOH Q XIJMFOPU JOB %PDVNFOU Q NVTUOPUQMBZBOZWJEFP CVUTIPVMEQMBZ
    BOZBVEJPDPNQPOFOU.FEJBFMFNFOUTNVTUOPUTUPQQMBZJOHKVTUCFDBVTFBMMSFGFSFODFTUPUIFNIBWFCFFOSFNPWFE
    POMZPODFBNFEJBFMFNFOUUPXIJDIOPSFGFSFODFTFYJTUIBTSFBDIFEBQPJOUXIFSFOPGVSUIFSBVEJPSFNBJOTUPCF
    QMBZFEGPSUIBUFMFNFOU FHCFDBVTFUIFFMFNFOUJTQBVTFE PSCFDBVTFUIFFOEPGUIFDMJQIBTCFFOSFBDIFE PS
    CFDBVTFJUT QMBZCBDL3BUF Q JT
    NBZUIFFMFNFOUCFHBSCBHFDPMMFDUFE

    8IFOUIF DVSSFOUQMBZCBDLQPTJUJPO Q PGB NFEJBFMFNFOU Q DIBOHFT FHEVFUPQMBZCBDLPSTFFLJOH


    UIFVTFS
    BHFOUNVTUSVOUIFGPMMPXJOHTUFQT*GUIF DVSSFOUQMBZCBDLQPTJUJPO Q DIBOHFTXIJMFUIFTUFQTBSFSVOOJOH UIFOUIF
    VTFSBHFOUNVTUXBJUGPSUIFTUFQTUPDPNQMFUF BOEUIFONVTUJNNFEJBUFMZSFSVOUIFTUFQT 5IFTFTUFQTBSFUIVTSVO
    BTPGUFOBTQPTTJCMFPSOFFEFEǡJGPOFJUFSBUJPOUBLFTBMPOHUJNF UIJTDBODBVTFDFSUBJOSBOHFTUPCFTLJQQFEPWFSBT
    UIFVTFSBHFOUSVTIFTBIFBEUPDBUDIVQ

     *GUIFUJNFXBTSFBDIFEUISPVHIUIFVTVBMNPOPUPOJDJODSFBTFPGUIFDVSSFOUQMBZCBDLQPTJUJPOEVSJOHOPSNBM
    QMBZCBDL BOEJGUIFVTFSBHFOUIBTOPUИSFEB UJNFVQEBUF Q FWFOUBUUIFFMFNFOUJOUIFQBTUUPNT
    BOEJTOPUTUJMMSVOOJOHFWFOUIBOEMFSTGPSTVDIBOFWFOU UIFOUIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFB
    TJNQMFFWFOU Q OBNFE UJNFVQEBUF Q BUUIFFMFNFOU *OUIFPUIFSDBTFT TVDIBTFYQMJDJUTFFLT SFMFWBOU
    FWFOUTHFUИSFEBTQBSUPGUIFPWFSBMMQSPDFTTPGDIBOHJOHUIFDVSSFOUQMBZCBDLQPTJUJPO

    *HM> 0A>>O>GMMANLBLGHMMH;>[K>=?:LM>KMA:G:;HNM$SHKLEHP>KMA:G$S
    :LLNFBG@MA>>O>GMA:G=E>KL=HGMM:D>EHG@>KMA:G FLMHKNG 1L>K:@>GML:K>
    >G<HNK:@>=MHO:KRMA>?K>JN>G<RH?MA>>O>GM;:L>=HGMA>LRLM>FEH:=:G=MA>:O>K:@>
    <HLMH?IKH<>LLBG@MA>>O>GM>:<AMBF> LHMA:MMA>1%NI=:M>L:K>GHM:GRFHK>?K>JN>GM
    MA:GMA>NL>K:@>GM<:G<HF?HKM:;ERA:G=E>PABE>=><H=BG@MA>OB=>H

    8IFOB NFEJBFMFNFOU Q JT SFNPWFEGSPNB %PDVNFOU Q JGUIF NFEJBFMFNFOU Q T OFUXPSL4UBUF Q BUUSJCVUFIBTB
    WBMVFPUIFSUIBO /&5803,@&.15: Q UIFOUIFVTFSBHFOUNVTUBDUBTJGUIF QBVTF
    Q NFUIPEIBECFFOJOWPLFE

    
    *HM> %?MA> F>=B:>E>F>GM I L #H<NF>GM I LMHIL;>BG@: ?NEER:<MBO> I =H<NF>GM MA>GMA>
    IE:R;:<DPBEE LMHI I NGMBEMA>=H<NF>GMBL:<MBO>:@:BG

        /??ECHA

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    F>=B: N@@FDIB
    3FUVSOTUSVFJGUIFVTFSBHFOUJTDVSSFOUMZTFFLJOH

    F>=B: N@@F<=G@ K


    3FUVSOTB 5JNF3BOHFT Q PCKFDUUIBUSFQSFTFOUTUIFSBOHFTPGUIF NFEJBSFTPVSDF Q UPXIJDIJUJT
    QPTTJCMFGPSUIFVTFSBHFOUUPTFFL

    5IF N@@FDIB BUUSJCVUFNVTUJOJUJBMMZIBWFUIFWBMVFGBMTF

    8IFOUIFVTFSBHFOUJTSFRVJSFEUP M??E UPBQBSUJDVMBS =4F?;0H102:?>B8C8>= JOUIF NFEJBSFTPVSDF Q JUNFBOTUIBU


    UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT5IJTBMHPSJUINJOUFSBDUTDMPTFMZXJUIUIF FWFOUMPPQ Q NFDIBOJTNJO
    QBSUJDVMBS JUIBTB TZODISPOPVTTFDUJPO Q XIJDIJTUSJHHFSFEBTQBSUPGUIF FWFOUMPPQ Q BMHPSJUIN
    4UFQTJOUIBU
    TFDUJPOBSFNBSLFEXJUI 

     *GUIF NFEJBFMFNFOU Q T SFBEZ4UBUF Q JT )"7&@/05)*/( Q UIFOSBJTFBO */7"-*%@45"5&@&33 Q
    FYDFQUJPO JGUIFTFFLXBTJOSFTQPOTFUPB%0.NFUIPEDBMMPSTFUUJOHPGBO*%-BUUSJCVUF
    BOEBCPSUUIFTF
    TUFQT

     *GUIFFMFNFOUT TFFLJOH Q *%-BUUSJCVUFJTUSVF UIFOBOPUIFSJOTUBODFPGUIJTBMHPSJUINJTBMSFBEZSVOOJOH


    "CPSUUIBUPUIFSJOTUBODFPGUIFBMHPSJUINXJUIPVUXBJUJOHGPSUIFTUFQUIBUJUJTSVOOJOHUPDPNQMFUF

     4FUUIF TFFLJOH Q *%-BUUSJCVUFUPUSVF

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE UJNFVQEBUF Q BUUIFFMFNFOU

     *GUIFTFFLXBTJOSFTQPOTFUPB%0.NFUIPEDBMMPSTFUUJOHPGBO*%-BUUSJCVUF UIFODPOUJOVFUIFTDSJQU5IF
    SFNBJOEFSPGUIFTFTUFQTNVTUCFSVOBTZODISPOPVTMZ8JUIUIFFYDFQUJPOPGUIFTUFQTNBSLFEXJUI UIFZ
    DPVMECFBCPSUFEBUBOZUJNFCZBOPUIFSJOTUBODFPGUIJTBMHPSJUINCFJOHJOWPLFE

     *GUIF =4F?;0H102:?>B8C8>= JTMBUFSUIBOUIFFOEPGUIF NFEJBSFTPVSDF Q UIFOMFUJUCFUIFFOEPGUIF


    NFEJBSFTPVSDF Q JOTUFBE

     *GUIF =4F?;0H102:?>B8C8>= JTMFTTUIBOUIF FBSMJFTUQPTTJCMFQPTJUJPO Q MFUJUCFUIBUQPTJUJPOJOTUFBE

     *GUIF QPTTJCMZOPXDIBOHFE
    =4F?;0H102:?>B8C8>= JTOPUJOPOFPGUIFSBOHFTHJWFOJOUIF TFFLBCMF Q
    BUUSJCVUF UIFOMFUJUCFUIFQPTJUJPOJOPOFPGUIFSBOHFTHJWFOJOUIF TFFLBCMF Q BUUSJCVUFUIBUJTUIF
    OFBSFTUUPUIF =4F?;0H102:?>B8C8>=*GUXPQPTJUJPOTCPUITBUJTGZUIBUDPOTUSBJOU JFUIF =4F?;0H102:
    ?>B8C8>= JTFYBDUMZJOUIFNJEEMFCFUXFFOUXPSBOHFTJOUIF TFFLBCMF Q BUUSJCVUF
    UIFOVTFUIFQPTJUJPOUIBU
    JTDMPTFTUUPUIF DVSSFOUQMBZCBDLQPTJUJPO Q *GUIFSFBSFOPSBOHFTHJWFOJOUIF TFFLBCMF Q BUUSJCVUFUIFO
    TFUUIF TFFLJOH Q *%-BUUSJCVUFUPGBMTFBOEBCPSUUIFTFTUFQT

     4FUUIF DVSSFOUQMBZCBDLQPTJUJPO Q UPUIFHJWFO =4F?;0H102:?>B8C8>=

     *GUIF NFEJBFMFNFOU Q XBT QPUFOUJBMMZQMBZJOH Q JNNFEJBUFMZCFGPSFJUTUBSUFETFFLJOH CVUTFFLJOH


    DBVTFEJUT SFBEZ4UBUF Q BUUSJCVUFUPDIBOHFUPBWBMVFMPXFSUIBO )"7&@'6563&@%"5" Q UIFO RVFVFB
    UBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE XBJUJOH Q BUUIFFMFNFOU

     *G XIFOJUSFBDIFTUIJTTUFQ UIFVTFSBHFOUIBTTUJMMOPUFTUBCMJTIFEXIFUIFSPSOPUUIF NFEJBEBUB Q GPS


    UIF =4F?;0H102:?>B8C8>= JTBWBJMBCMF BOE JGJUJT EFDPEFEFOPVHIEBUBUPQMBZCBDLUIBUQPTJUJPO UIFO
    RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE TFFLJOH Q BUUIFFMFNFOU

     8BJUVOUJMJUIBTFTUBCMJTIFEXIFUIFSPSOPUUIF NFEJBEBUB Q GPSUIF =4F?;0H102:?>B8C8>= JTBWBJMBCMF


    BOE JGJUJT VOUJMJUIBTEFDPEFEFOPVHIEBUBUPQMBZCBDLUIBUQPTJUJPO

     "XBJUBTUBCMFTUBUF Q 5IF TZODISPOPVTTFDUJPO Q DPOTJTUTPGBMMUIFSFNBJOJOHTUFQTPGUIJTBMHPSJUIN


    4UFQTJOUIF TZODISPOPVTTFDUJPO Q BSFNBSLFEXJUI 

     4FUUIF TFFLJOH Q *%-BUUSJCVUFUPGBMTF

    
     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE TFFLFE Q BUUIFFMFNFOU

    5IF N@@F<=G@ BUUSJCVUFNVTUSFUVSOBOFXTUBUJD OPSNBMJ[FE 5JNF3BOHFT PCKFDU Q UIBUSFQSFTFOUTUIFSBOHFTPGUIF


    NFEJBSFTPVSDF Q JGBOZ UIBUUIFVTFSBHFOUJTBCMFUPTFFLUP BUUIFUJNFUIFBUUSJCVUFJTFWBMVBUFE

    *HM> %?MA>NL>K:@>GM<:GL>>DMH:GRPA>K>BGMA> F>=B:K>LHNK<> I > @ ;><:NL>BM:LBFIE>


    FHOB>[E>:G=MA>NL>K:@>GM:G=MA>L>KO>KLNIIHKM$00,.:G@>K>JN>LML MA>GMA>:MMKB;NM>
    PHNE=K>MNKG:GH;C><MPBMAHG>K:G@> PAHL>LM:KMBLMA>MBF>H?MA>[KLM?K:F>MRIB<:EERS>KH
    :G=PAHL>>G=BLMA>L:F>:LMA>MBF>H?MA>[KLM?K:F>IENLMA> =NK:MBHG I :MMKB;NM>LO:EN>
    PAB<APHNE=>JN:EMA>MBF>H?MA>E:LM?K:F>

    *HM> 0A>K:G@>FB@AM;><HGMBGNHNLER<A:G@BG@ > @ B?MA>NL>K:@>GMBL;NZ>KBG@:LEB=BG@


    PBG=HPHG:GBG[GBM>LMK>:F 0ABLBLMA>;>A:OBHKL>>GPBMA 2.LOB>PBG@EBO>02 ?HKBGLM:G<>

    .FEJBSFTPVSDFT Q NJHIUCFJOUFSOBMMZTDSJQUFEPSJOUFSBDUJWF5IVT B NFEJBFMFNFOU Q DPVMEQMBZJOBOPOMJOFBS


    GBTIJPO*GUIJTIBQQFOT UIFVTFSBHFOUNVTUBDUBTJGUIFBMHPSJUINGPS TFFLJOH Q XBTVTFEXIFOFWFSUIF DVSSFOU
    QMBZCBDLQPTJUJPO Q DIBOHFTJOBEJTDPOUJOVPVTGBTIJPO TPUIBUUIFSFMFWBOUFWFOUTИSF
    

        1M?LCHN?L@;=?

    5IF >JIOMJGN BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q *GQSFTFOU JUJOEJDBUFTUIBUUIFBVUIPSIBTOPUQSPWJEFEBTDSJQUFE


    DPOUSPMMFSBOEXPVMEMJLFUIFVTFSBHFOUUPQSPWJEFJUTPXOTFUPGDPOUSPMT

    *GUIFBUUSJCVUFJTQSFTFOU PSJG TDSJQUJOHJTEJTBCMFE Q GPSUIF NFEJBFMFNFOU Q UIFOUIFVTFSBHFOUTIPVME ?RJIM?;


    OM?LCHN?L@;=?NINB?OM?L5IJTVTFSJOUFSGBDFTIPVMEJODMVEFGFBUVSFTUPCFHJOQMBZCBDL QBVTFQMBZCBDL TFFLUP
    BOBSCJUSBSZQPTJUJPOJOUIFDPOUFOU JGUIFDPOUFOUTVQQPSUTBSCJUSBSZTFFLJOH
    DIBOHFUIFWPMVNF DIBOHFUIFEJTQMBZ
    PGDMPTFEDBQUJPOTPSFNCFEEFETJHOMBOHVBHFUSBDLT TFMFDUEJЗFSFOUBVEJPUSBDLTPSUVSOPOBVEJPEFTDSJQUJPOT BOE
    TIPXUIFNFEJBDPOUFOUJONBOOFSTNPSFTVJUBCMFUPUIFVTFS FHGVMMTDSFFOWJEFPPSJOBOJOEFQFOEFOUSFTJ[BCMF
    XJOEPX
    0UIFSDPOUSPMTNBZBMTPCFNBEFBWBJMBCMF

    &WFOXIFOUIFBUUSJCVUFJTBCTFOU IPXFWFS VTFSBHFOUTNBZQSPWJEFDPOUSPMTUPBЗFDUQMBZCBDLPGUIFNFEJB


    SFTPVSDF FHQMBZ QBVTF TFFLJOH BOEWPMVNFDPOUSPMT
    CVUTVDIGFBUVSFTTIPVMEOPUJOUFSGFSFXJUIUIFQBHFT
    OPSNBMSFOEFSJOH'PSFYBNQMF TVDIGFBUVSFTDPVMECFFYQPTFEJOUIF NFEJBFMFNFOU Q TDPOUFYUNFOV

    8IFSFQPTTJCMF TQFDJИDBMMZ GPSTUBSUJOH TUPQQJOH QBVTJOH BOEVOQBVTJOHQMBZCBDL GPSNVUJOHPSDIBOHJOHUIF


    WPMVNFPGUIFBVEJP BOEGPSTFFLJOH
    VTFSJOUFSGBDFGFBUVSFTFYQPTFECZUIFVTFSBHFOUNVTUCFJNQMFNFOUFEJO
    UFSNTPGUIF%0."1*EFTDSJCFEBCPWF TPUIBU FH BMMUIFTBNFFWFOUTИSF

    5IF >JIOMJGN *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    F>=B: QJGPH@ 7 O:EN> 8
    3FUVSOTUIFDVSSFOUQMBZCBDLWPMVNF BTBOVNCFSJOUIFSBOHFUP XIFSFJTUIFRVJFUFTUBOE
    UIFMPVEFTU
    $BOCFTFU UPDIBOHFUIFWPMVNF
    5ISPXTBO */%&9@4*;&@&33 Q JGUIFOFXWBMVFJTOPUJOUIFSBOHF

    F>=B: HPO@? K 7 O:EN> 8


    3FUVSOTUSVFJGBVEJPJTNVUFE PWFSSJEJOHUIF WPMVNF Q BUUSJCVUF BOEGBMTFJGUIF WPMVNF Q BUUSJCVUFJT
    CFJOHIPOPSFE
    $BOCFTFU UPDIBOHFXIFUIFSUIFBVEJPJTNVUFEPSOPU

    5IF QJGPH@ BUUSJCVUFNVTUSFUVSOUIFQMBZCBDLWPMVNFPGBOZBVEJPQPSUJPOTPGUIF NFEJBFMFNFOU Q JOUIFSBOHF


    TJMFOU
    UP MPVEFTU
    *OJUJBMMZ UIFWPMVNFNVTUCF CVUVTFSBHFOUTNBZSFNFNCFSUIFMBTUTFUWBMVFBDSPTT
    TFTTJPOT POBQFSTJUFCBTJTPSPUIFSXJTF TPUIFWPMVNFNBZTUBSUBUPUIFSWBMVFT0OTFUUJOH JGUIFOFXWBMVFJTJO
    UIFSBOHFUPJODMVTJWF UIFBUUSJCVUFNVTUCFTFUUPUIFOFXWBMVFBOEUIFQMBZCBDLWPMVNFNVTUCF
    DPSSFTQPOEJOHMZBEKVTUFEBTTPPOBTQPTTJCMFBGUFSTFUUJOHUIFBUUSJCVUF XJUICFJOHTJMFOU BOECFJOHUIF
    MPVEFTUTFUUJOH WBMVFTJOCFUXFFOJODSFBTJOHJOMPVEOFTT5IFSBOHFOFFEOPUCFMJOFBS5IFMPVEFTUTFUUJOHNBZCF
    MPXFSUIBOUIFTZTUFNTMPVEFTUQPTTJCMFTFUUJOHGPSFYBNQMFUIFVTFSDPVMEIBWFTFUBNBYJNVNWPMVNF*GUIFOFX
    WBMVFJTPVUTJEFUIFSBOHFUPJODMVTJWF UIFO POTFUUJOH BO */%&9@4*;&@&33 Q FYDFQUJPONVTUCFSBJTFE
    JOTUFBE

    
    5IF HPO@? BUUSJCVUFNVTUSFUVSOUSVFJGUIFBVEJPDIBOOFMTBSFNVUFEBOEGBMTFPUIFSXJTF*OJUJBMMZ UIFBVEJPDIBOOFMT
    TIPVMEOPUCFNVUFE GBMTF
    CVUVTFSBHFOUTNBZSFNFNCFSUIFMBTUTFUWBMVFBDSPTTTFTTJPOT POBQFSTJUFCBTJTPS
    PUIFSXJTF TPUIFNVUFETUBUFNBZTUBSUBTNVUFE USVF
    0OTFUUJOH UIFBUUSJCVUFNVTUCFTFUUPUIFOFXWBMVFJGUIF
    OFXWBMVFJTUSVF BVEJPQMBZCBDLGPSUIJT NFEJBSFTPVSDF Q NVTUUIFOCFNVUFE BOEJGGBMTF BVEJPQMBZCBDLNVTU
    UIFOCFFOBCMFE

    8IFOFWFSFJUIFSUIF NVUFE Q PS WPMVNF Q BUUSJCVUFTBSFDIBOHFE UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFB
    TJNQMFFWFOU Q OBNFE WPMVNFDIBOHF Q BUUIF NFEJBFMFNFOU Q 

        0CG?L;HA?M

    0CKFDUTJNQMFNFOUJOHUIF 5JNF3BOHFT Q JOUFSGBDFSFQSFTFOUBMJTUPGSBOHFT QFSJPET


    PGUJNF

    JOUFSGBDF 2DH@0<IB@N \
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH MFOHUI
    GMPBU TUBSU JOVOTJHOFEMPOHJOEFY
    
    GMPBU FOE JOVOTJHOFEMPOHJOEFY
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    F>=B: G@IBOC K
    3FUVSOTUIFOVNCFSPGSBOHFTJOUIFPCKFDU

    MBF>  F>=B: NO<MO K BG=>Q


    3FUVSOTUIFUJNFGPSUIFTUBSUPGUIFSBOHFXJUIUIFHJWFOJOEFY
    5ISPXTBO */%&9@4*;&@&33 Q JGUIFJOEFYJTPVUPGSBOHF

    MBF>  F>=B: @I? K BG=>Q


    3FUVSOTUIFUJNFGPSUIFFOEPGUIFSBOHFXJUIUIFHJWFOJOEFY
    5ISPXTBO */%&9@4*;&@&33 Q JGUIFJOEFYJTPVUPGSBOHF

    5IF G@IBOC *%-BUUSJCVUFNVTUSFUVSOUIFOVNCFSPGSBOHFTSFQSFTFOUFECZUIFPCKFDU

    5IF NO<MOBG=>Q NFUIPENVTUSFUVSOUIFQPTJUJPOPGUIFTUBSUPGUIF 8=34GUISBOHFSFQSFTFOUFECZUIFPCKFDU JO


    TFDPOETNFBTVSFEGSPNUIFTUBSUPGUIFUJNFMJOFUIBUUIFPCKFDUDPWFST

    5IF @I?BG=>Q NFUIPENVTUSFUVSOUIFQPTJUJPOPGUIFFOEPGUIF 8=34GUISBOHFSFQSFTFOUFECZUIFPCKFDU JO


    TFDPOETNFBTVSFEGSPNUIFTUBSUPGUIFUJNFMJOFUIBUUIFPCKFDUDPWFST

    5IFTFNFUIPETNVTUSBJTF */%&9@4*;&@&33 Q FYDFQUJPOTJGDBMMFEXJUIBO 8=34G BSHVNFOUHSFBUFSUIBOPSFRVBMUPUIF


    OVNCFSPGSBOHFTSFQSFTFOUFECZUIFPCKFDU

    8IFOB 5JNF3BOHFT Q PCKFDUJTTBJEUPCFB HILG;FCT?> 2DH@0<IB@N I<D?=N UIFSBOHFTJUSFQSFTFOUTNVTUPCFZUIF


    GPMMPXJOHDSJUFSJB

    Ǭ 5IFTUBSUPGBSBOHFNVTUCFHSFBUFSUIBOUIFFOEPGBMMFBSMJFSSBOHFT

    Ǭ 5IFTUBSUPGBSBOHFNVTUCFMFTTUIBOUIFFOEPGUIBUTBNFSBOHF

    *OPUIFSXPSET UIFSBOHFTJOTVDIBOPCKFDUBSFPSEFSFE EPOUPWFSMBQ BSFOUFNQUZ BOEEPOUUPVDI BEKBDFOUSBOHFT


    BSFGPMEFEJOUPPOFCJHHFSSBOHF
    

    5IFUJNFMJOFTVTFECZUIFPCKFDUTSFUVSOFECZUIF CVGGFSFE Q TFFLBCMF Q BOE QMBZFE Q *%-BUUSJCVUFTPG NFEJB
    FMFNFOUT Q NVTUCFUIFTBNFBTUIBUFMFNFOUT NFEJBSFTPVSDF Q TUJNFMJOF

        !P?HNMOGG;LS

    *78BB42C8>=8B=>==>A<0C8E4

    5IFGPMMPXJOHFWFOUTИSFPO NFEJBFMFNFOUT Q BTQBSUPGUIFQSPDFTTJOHNPEFMEFTDSJCFEBCPWF

    
    !P?HNH;G? %HN?L@;=? CMJ;N=B?>QB?H ,L?=IH>CNCIHM

    GJ<?NO<MO &WFOU Q 5IFVTFSBHFOUCFHJOTMPPLJOHGPS NFEJB OFUXPSL4UBUF Q FRVBMT /&5803,@-0"%*/( Q
    EBUB Q BTQBSUPGUIF SFTPVSDFTFMFDUJPO
    BMHPSJUIN Q 
    KMJBM@NN &WFOU Q 5IFVTFSBHFOUJTGFUDIJOH NFEJBEBUB Q  OFUXPSL4UBUF Q FRVBMT /&5803,@-0"%*/( Q
    Q
    NPNK@I? &WFOU 5IFVTFSBHFOUJTJOUFOUJPOBMMZOPUDVSSFOUMZ OFUXPSL4UBUF Q FRVBMT /&5803,@*%-& Q
    GFUDIJOH NFEJBEBUB Q CVUEPFTOPUIBWFUIF
    FOUJSF NFEJBSFTPVSDF Q EPXOMPBEFE
    <=JMO &WFOU Q 5IFVTFSBHFOUTUPQTGFUDIJOHUIF NFEJB FSSPS Q JTBOPCKFDUXJUIUIFDPEF .&%*"@&33@"#035&% Q 
    EBUB Q CFGPSFJUJTDPNQMFUFMZEPXOMPBEFE OFUXPSL4UBUF Q FRVBMTFJUIFS /&5803,@&.15: Q PS
    CVUOPUEVFUPBOFSSPS /&5803,@*%-& Q EFQFOEJOHPOXIFOUIFEPXOMPBEXBT
    BCPSUFE
    @MMJM &WFOU Q "OFSSPSPDDVSTXIJMFGFUDIJOHUIF NFEJB FSSPS Q JTBOPCKFDUXJUIUIFDPEF .&%*"@&33@/&5803, Q PS
    EBUB Q  IJHIFS OFUXPSL4UBUF Q FRVBMTFJUIFS /&5803,@&.15: Q PS
    /&5803,@*%-& Q EFQFOEJOHPOXIFOUIFEPXOMPBEXBT
    BCPSUFE
    @HKOD@? &WFOU Q " NFEJBFMFNFOU Q XIPTF OFUXPSL4UBUF Q OFUXPSL4UBUF Q JT /&5803,@&.15: Q BMMUIF*%-BUUSJCVUFT
    XBTQSFWJPVTMZOPUJOUIF /&5803,@&.15: Q BSFJOUIFJSJOJUJBMTUBUFT
    TUBUFIBTKVTUTXJUDIFEUPUIBUTUBUF FJUIFS
    CFDBVTFPGBGBUBMFSSPSEVSJOHMPBEUIBUTBCPVU
    UPCFSFQPSUFE PSCFDBVTFUIF MPBE
    Q
    NFUIPEXBTJOWPLFEXIJMFUIF SFTPVSDF
    TFMFDUJPOBMHPSJUIN Q XBTBMSFBEZSVOOJOH
    
    NO<GG@? &WFOU Q 5IFVTFSBHFOUJTUSZJOHUPGFUDI NFEJB OFUXPSL4UBUF Q JT /&5803,@-0"%*/( Q 
    EBUB Q CVUEBUBJTVOFYQFDUFEMZOPU
    GPSUIDPNJOH
    KG<T &WFOU Q 1MBZCBDLIBTCFHVO'JSFEBGUFSUIF QMBZ
    Q QBVTFE Q JTOFXMZGBMTF
    NFUIPEIBTSFUVSOFE
    K<PN@ &WFOU Q 1MBZCBDLIBTCFFOQBVTFE'JSFEBGUFSUIF QBVTFE Q JTOFXMZUSVF
    QBVTF Q NFUIPEIBTSFUVSOFE
    GJ<?@?H@O<?<O< &WFOU Q 5IFVTFSBHFOUIBTKVTUEFUFSNJOFEUIF SFBEZ4UBUF Q JTOFXMZFRVBMUP )"7&@.&5"%"5" Q PSHSFBUFS
    EVSBUJPOBOEEJNFOTJPOTPGUIF NFEJB GPSUIFИSTUUJNF
    SFTPVSDF Q 
    GJ<?@??<O< &WFOU Q 5IFVTFSBHFOUDBOSFOEFSUIF NFEJBEBUB Q SFBEZ4UBUF Q OFXMZJODSFBTFEUP )"7&@$633&/5@%"5" Q PS
    BUUIF DVSSFOUQMBZCBDLQPTJUJPO Q GPSUIFИSTU HSFBUFSGPSUIFИSTUUJNF
    UJNF
    R<DODIB &WFOU Q 1MBZCBDLIBTTUPQQFECFDBVTFUIFOFYUGSBNF SFBEZ4UBUF Q JTOFXMZFRVBMUPPSMFTTUIBO
    JTOPUBWBJMBCMF CVUUIFVTFSBHFOUFYQFDUT )"7&@$633&/5@%"5" Q BOE QBVTFE Q JTGBMTF&JUIFS
    UIBUGSBNFUPCFDPNFBWBJMBCMFJOEVFDPVSTF TFFLJOH Q JTUSVF PSUIF DVSSFOUQMBZCBDLQPTJUJPO Q JTOPU
    DPOUBJOFEJOBOZPGUIFSBOHFTJO CVGGFSFE Q *UJTQPTTJCMFGPS
    QMBZCBDLUPTUPQGPSUXPPUIFSSFBTPOTXJUIPVU QBVTFE Q
    CFJOHGBMTF CVUUIPTFUXPSFBTPOTEPOPUИSFUIJTFWFOU
    NBZCF QMBZCBDLFOEFE Q PSQMBZCBDL TUPQQFEEVFUP
    FSSPST Q 
    KG<TDIB &WFOU Q 1MBZCBDLIBTTUBSUFE SFBEZ4UBUF Q JTOFXMZFRVBMUPPSHSFBUFSUIBO
    )"7&@'6563&@%"5" Q QBVTFE Q JTGBMTF TFFLJOH Q JTGBMTF
    PSUIF DVSSFOUQMBZCBDLQPTJUJPO Q JTDPOUBJOFEJOPOFPGUIF
    SBOHFTJO CVGGFSFE Q 
    ><IKG<T &WFOU Q 5IFVTFSBHFOUDBOSFTVNFQMBZCBDLPGUIF SFBEZ4UBUF Q OFXMZJODSFBTFEUP )"7&@'6563&@%"5" Q PS
    NFEJBEBUB Q CVUFTUJNBUFTUIBUJGQMBZCBDL HSFBUFS
    XFSFUPCFTUBSUFEOPX UIF NFEJBSFTPVSDF Q
    DPVMEOPUCFSFOEFSFEBUUIFDVSSFOUQMBZCBDL
    SBUFVQUPJUTFOEXJUIPVUIBWJOHUPTUPQGPS
    GVSUIFSCVЗFSJOHPGDPOUFOU
    ><IKG<TOCMJPBC &WFOU Q 5IFVTFSBHFOUFTUJNBUFTUIBUJGQMBZCBDLXFSF SFBEZ4UBUF Q JTOFXMZFRVBMUP )"7&@&/06()@%"5" Q 
    UPCFTUBSUFEOPX UIF NFEJBSFTPVSDF Q DPVME
    CFSFOEFSFEBUUIFDVSSFOUQMBZCBDLSBUFBMMUIF
    XBZUPJUTFOEXJUIPVUIBWJOHUPTUPQGPSGVSUIFS
    CVЗFSJOH
    N@@FDIB &WFOU Q 5IF TFFLJOH Q *%-BUUSJCVUFDIBOHFEUPUSVF
    BOEUIFTFFLPQFSBUJPOJTUBLJOHMPOHFOPVHI
    UIBUUIFVTFSBHFOUIBTUJNFUPИSFUIFFWFOU
    N@@F@? &WFOU Q 5IF TFFLJOH Q *%-BUUSJCVUFDIBOHFEUPGBMTF
    Q
    ODH@PK?<O@ &WFOU 5IF DVSSFOUQMBZCBDLQPTJUJPO Q DIBOHFEBT
    QBSUPGOPSNBMQMBZCBDLPSJOBOFTQFDJBMMZ
    JOUFSFTUJOHXBZ GPSFYBNQMFEJTDPOUJOVPVTMZ
    @I?@? &WFOU Q 1MBZCBDLIBTTUPQQFECFDBVTFUIFFOEPGUIF DVSSFOU5JNF Q FRVBMTUIFFOEPGUIF NFEJBSFTPVSDF Q 
    NFEJBSFTPVSDF Q XBTSFBDIFE FOEFE Q JTUSVF

    
    !P?HNH;G? %HN?L@;=? CMJ;N=B?>QB?H ,L?=IH>CNCIHM
    M<O@>C<IB@ &WFOU Q &JUIFSUIF EFGBVMU1MBZCBDL3BUF Q PSUIF
    QMBZCBDL3BUF Q BUUSJCVUFIBTKVTUCFFO
    VQEBUFE
    ?PM<ODJI>C<IB@ &WFOU Q 5IF EVSBUJPO Q BUUSJCVUFIBTKVTUCFFO
    VQEBUFE
    QJGPH@>C<IB@ &WFOU Q &JUIFSUIF WPMVNF Q BUUSJCVUFPSUIF NVUFE Q
    BUUSJCVUFIBTDIBOHFE'JSFEBGUFSUIFSFMFWBOU
    BUUSJCVUFTTFUUFSIBTSFUVSOFE

        /?=OLCNS;H>JLCP;=S=IHMC>?L;NCIHM

    5IFNBJOTFDVSJUZBOEQSJWBDZJNQMJDBUJPOTPGUIF WJEFP Q BOE BVEJP Q FMFNFOUTDPNFGSPNUIFBCJMJUZUPFNCFE


    NFEJBDSPTTPSJHJO5IFSFBSFUXPEJSFDUJPOTUIBUUISFBUTDBOЙPXGSPNIPTUJMFDPOUFOUUPBWJDUJNQBHF BOEGSPNB
    IPTUJMFQBHFUPWJDUJNDPOUFOU

    *GBWJDUJNQBHFFNCFETIPTUJMFDPOUFOU UIFUISFBUJTUIBUUIFDPOUFOUNJHIUDPOUBJOTDSJQUFEDPEFUIBUBUUFNQUTUP
    JOUFSBDUXJUIUIF %PDVNFOU Q UIBUFNCFETUIFDPOUFOU5PBWPJEUIJT VTFSBHFOUTNVTUFOTVSFUIBUUIFSFJTOPBDDFTT
    GSPNUIFDPOUFOUUPUIFFNCFEEJOHQBHF*OUIFDBTFPGNFEJBDPOUFOUUIBUVTFT%0.DPODFQUT UIFFNCFEEFE
    DPOUFOUNVTUCFUSFBUFEBTJGJUXBTJOJUTPXOVOSFMBUFE UPQMFWFMCSPXTJOHDPOUFYU Q 

    'PSJOTUBODF JGBO47(BOJNBUJPOXBTFNCFEEFEJOB WJEFP Q FMFNFOU UIFVTFSBHFOUXPVMEOPUHJWFJUBDDFTT


    UPUIF%0.PGUIFPVUFSQBHF'SPNUIFQFSTQFDUJWFPGTDSJQUTJOUIF47(SFTPVSDF UIF47(ИMFXPVMEBQQFBSUP
    CFJOBMPOFUPQMFWFMCSPXTJOHDPOUFYUXJUIOPQBSFOU

    *GBIPTUJMFQBHFFNCFETWJDUJNDPOUFOU UIFUISFBUJTUIBUUIFFNCFEEJOHQBHFDPVMEPCUBJOJOGPSNBUJPOGSPNUIF
    DPOUFOUUIBUJUXPVMEOPUPUIFSXJTFIBWFBDDFTTUP5IF"1*EPFTFYQPTFTPNFJOGPSNBUJPOUIFFYJTUFODFPGUIF
    NFEJB JUTUZQF JUTEVSBUJPO JUTTJ[F BOEUIFQFSGPSNBODFDIBSBDUFSJTUJDTPGJUTIPTU4VDIJOGPSNBUJPOJTBMSFBEZ
    QPUFOUJBMMZQSPCMFNBUJD CVUJOQSBDUJDFUIFTBNFJOGPSNBUJPODBONPSFPSMFTTCFPCUBJOFEVTJOHUIF JNH Q FMFNFOU
    BOETPJUIBTCFFOEFFNFEBDDFQUBCMF

    )PXFWFS TJHOJИDBOUMZNPSFTFOTJUJWFJOGPSNBUJPODPVMECFPCUBJOFEJGUIFVTFSBHFOUGVSUIFSFYQPTFTNFUBEBUBXJUIJO
    UIFDPOUFOUTVDIBTTVCUJUMFTPSDIBQUFSUJUMFT5IJTWFSTJPOPGUIF"1*EPFTOPUFYQPTFTVDIJOGPSNBUJPO'VUVSF
    FYUFOTJPOTUPUIJT"1*XJMMMJLFMZSFVTFBNFDIBOJTNTVDIBT$034UPDIFDLUIBUUIFFNCFEEFEDPOUFOUTTJUFIBT
    PQUFEJOUPFYQPTJOHTVDIJOGPSNBUJPO <$034> Q

    "OBUUBDLFSDPVMEUSJDLBVTFSSVOOJOHXJUIJOBDPSQPSBUFOFUXPSLJOUPWJTJUJOHBTJUFUIBUBUUFNQUTUPMPBEB
    WJEFPGSPNBQSFWJPVTMZMFBLFEMPDBUJPOPOUIFDPSQPSBUJPOTJOUSBOFU*GTVDIBWJEFPJODMVEFEDPOИEFOUJBMQMBOT
    GPSBOFXQSPEVDU UIFOCFJOHBCMFUPSFBEUIFTVCUJUMFTXPVMEQSFTFOUBDPOИEFOUJBMJUZCSFBDI

       0B? ><IQ<N ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    &NCFEEFEDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF FNCFEEFEDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    5SBOTQBSFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    XJEUI Q
    IFJHIU Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*!<IQ<N#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFVOTJHOFEMPOH XJEUI
    BUUSJCVUFVOTJHOFEMPOH IFJHIU

    
    %0.4USJOH UP%BUB63- JOPQUJPOBM%0.4USJOHUZQF JOBOZBSHT
    

    PCKFDU HFU$POUFYU JO%0.4USJOHDPOUFYU*E


    
    ^

    5IF DBOWBT Q FMFNFOUQSPWJEFTTDSJQUTXJUIBSFTPMVUJPOEFQFOEFOUCJUNBQDBOWBT XIJDIDBOCFVTFEGPSSFOEFSJOH


    HSBQIT HBNFHSBQIJDT PSPUIFSWJTVBMJNBHFTPOUIFЙZ

    "VUIPSTTIPVMEOPUVTFUIF DBOWBT Q FMFNFOUJOBEPDVNFOUXIFOBNPSFTVJUBCMFFMFNFOUJTBWBJMBCMF'PSFYBNQMF


    JUJTJOBQQSPQSJBUFUPVTFB DBOWBT Q FMFNFOUUPSFOEFSBQBHFIFBEJOHJGUIFEFTJSFEQSFTFOUBUJPOPGUIFIFBEJOHJT
    HSBQIJDBMMZJOUFOTF JUTIPVMECFNBSLFEVQVTJOHBQQSPQSJBUFFMFNFOUT UZQJDBMMZ I Q
    BOEUIFOTUZMFEVTJOH$44
    BOETVQQPSUJOHUFDIOPMPHJFTTVDIBT9#-

    8IFOBVUIPSTVTFUIF DBOWBT Q FMFNFOU UIFZNVTUBMTPQSPWJEFDPOUFOUUIBU XIFOQSFTFOUFEUPUIFVTFS DPOWFZT


    FTTFOUJBMMZUIFTBNFGVODUJPOPSQVSQPTFBTUIFCJUNBQDBOWBT5IJTDPOUFOUNBZCFQMBDFEBTDPOUFOUPGUIF
    DBOWBT Q FMFNFOU5IFDPOUFOUTPGUIF DBOWBT Q FMFNFOU JGBOZ BSFUIFFMFNFOUT GBMMCBDLDPOUFOU Q 

    *OJOUFSBDUJWFWJTVBMNFEJB JG TDSJQUJOHJTFOBCMFE Q GPSUIF DBOWBT Q FMFNFOU BOEJGTVQQPSUGPS DBOWBT Q FMFNFOUT
    IBTCFFOFOBCMFE UIF DBOWBT Q FMFNFOU SFQSFTFOUT Q FNCFEEFEDPOUFOU Q DPOTJTUJOHPGBEZOBNJDBMMZDSFBUFE
    JNBHF

    *OOPOJOUFSBDUJWF TUBUJD WJTVBMNFEJB JGUIF DBOWBT Q FMFNFOUIBTCFFOQSFWJPVTMZQBJOUFEPO FHJGUIFQBHFXBT


    WJFXFEJOBOJOUFSBDUJWFWJTVBMNFEJVNBOEJTOPXCFJOHQSJOUFE PSJGTPNFTDSJQUUIBUSBOEVSJOHUIFQBHFMBZPVU
    QSPDFTTQBJOUFEPOUIFFMFNFOU
    UIFOUIF DBOWBT Q FMFNFOU SFQSFTFOUT Q FNCFEEFEDPOUFOU Q XJUIUIFDVSSFOU
    JNBHFBOETJ[F0UIFSXJTF UIFFMFNFOUSFQSFTFOUTJUT GBMMCBDLDPOUFOU Q JOTUFBE

    *OOPOWJTVBMNFEJB BOEJOWJTVBMNFEJBJG TDSJQUJOHJTEJTBCMFE Q GPSUIF DBOWBT Q FMFNFOUPSJGTVQQPSUGPS


    DBOWBT Q FMFNFOUTIBTCFFOEJTBCMFE UIF DBOWBT Q FMFNFOU SFQSFTFOUT Q JUT GBMMCBDLDPOUFOU Q JOTUFBE

    8IFOB DBOWBT Q FMFNFOU SFQSFTFOUT Q FNCFEEFEDPOUFOU Q UIFVTFSDBOTUJMMGPDVTEFTDFOEBOUTPGUIF DBOWBT Q
    FMFNFOU JOUIF GBMMCBDLDPOUFOU Q
    5IJTBMMPXTBVUIPSTUPNBLFBOJOUFSBDUJWFDBOWBTLFZCPBSEGPDVTBCMFBVUIPST
    TIPVMEIBWFBPOFUPPOFNBQQJOHPGJOUFSBDUJWFSFHJPOTUPGPDVTBCMFFMFNFOUTJOUIF GBMMCBDLDPOUFOU Q 

    5IF DBOWBT Q FMFNFOUIBTUXPBUUSJCVUFTUPDPOUSPMUIFTJ[FPGUIFDPPSEJOBUFTQBDF RD?OC BOE C@DBCO5IFTF


    BUUSJCVUFT XIFOTQFDJИFE NVTUIBWFWBMVFTUIBUBSF WBMJEOPOOFHBUJWFJOUFHFST Q  5IF SVMFTGPSQBSTJOHOPO
    OFHBUJWFJOUFHFST Q NVTUCFVTFEUPPCUBJOUIFJSOVNFSJDWBMVFT*GBOBUUSJCVUFJTNJTTJOH PSJGQBSTJOHJUTWBMVF
    SFUVSOTBOFSSPS UIFOUIFEFGBVMUWBMVFNVTUCFVTFEJOTUFBE 5IF XJEUI Q BUUSJCVUFEFGBVMUTUP BOEUIF
    IFJHIU Q BUUSJCVUFEFGBVMUTUP

    5IFJOUSJOTJDEJNFOTJPOTPGUIF DBOWBT Q FMFNFOUFRVBMUIFTJ[FPGUIFDPPSEJOBUFTQBDF XJUIUIFOVNCFST


    JOUFSQSFUFEJO$44QJYFMT)PXFWFS UIFFMFNFOUDBOCFTJ[FEBSCJUSBSJMZCZBTUZMFTIFFU%VSJOHSFOEFSJOH UIFJNBHF
    JTTDBMFEUPИUUIJTMBZPVUTJ[F

    5IFTJ[FPGUIFDPPSEJOBUFTQBDFEPFTOPUOFDFTTBSJMZSFQSFTFOUUIFTJ[FPGUIFBDUVBMCJUNBQUIBUUIFVTFSBHFOUXJMM
    VTFJOUFSOBMMZPSEVSJOHSFOEFSJOH0OIJHIEFИOJUJPOEJTQMBZT GPSJOTUBODF UIFVTFSBHFOUNBZJOUFSOBMMZVTFBCJUNBQ
    XJUIUXPEFWJDFQJYFMTQFSVOJUJOUIFDPPSEJOBUFTQBDF TPUIBUUIFSFOEFSJOHSFNBJOTBUIJHIRVBMJUZUISPVHIPVU

    8IFOUIF DBOWBT Q FMFNFOUJTDSFBUFE BOETVCTFRVFOUMZXIFOFWFSUIF XJEUI Q BOE IFJHIU Q BUUSJCVUFTBSFTFU
    XIFUIFSUPBOFXWBMVFPSUPUIFQSFWJPVTWBMVF
    UIFCJUNBQBOEBOZBTTPDJBUFEDPOUFYUTNVTUCFDMFBSFECBDLUP
    UIFJSJOJUJBMTUBUFBOESFJOJUJBMJ[FEXJUIUIFOFXMZTQFDJИFEDPPSEJOBUFTQBDFEJNFOTJPOT

    8IFOUIFDBOWBTJTJOJUJBMJ[FE JUTCJUNBQNVTUCFDMFBSFEUPUSBOTQBSFOUCMBDL

    5IF RD?OC BOE C@DBCO *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    0OMZPOFTRVBSFBQQFBSTUPCFESBXOJOUIFGPMMPXJOHFYBNQMF

    DBOWBTJTBSFGFSFODFUPBDBOWBTFMFNFOU
    WBSDPOUFYUDBOWBTHFU$POUFYU E
    
    DPOUFYUGJMM3FDU    
    
    DBOWBTTFU"UUSJCVUF XJEUI 
    DMFBSTUIFDBOWBT
    DPOUFYUGJMM3FDU    
    
    DBOWBTXJEUIDBOWBTXJEUIDMFBSTUIFDBOWBT
    DPOUFYUGJMM3FDU    
    POMZUIJTTRVBSFSFNBJOT

    
    5PESBXPOUIFDBOWBT BVUIPSTNVTUИSTUPCUBJOBSFGFSFODFUPB =IHN?RN VTJOHUIF B@O!JIO@SO<HGM>QM(= NFUIPE
    PGUIF DBOWBT Q FMFNFOU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <HGM>QM  <:GO:L B@O!JIO@SO K <HGM>QM%=
    3FUVSOTBOPCKFDUUIBUFYQPTFTBO"1*GPSESBXJOHPOUIFDBOWBT
    3FUVSOTOVMMJGUIFHJWFODPOUFYU*%JTOPUTVQQPSUFE

    5IJTTQFDJИDBUJPOPOMZEFИOFTPOFDPOUFYU XJUIUIFOBNFE Q  *G HFU$POUFYU


    Q JTDBMMFEXJUIUIBUFYBDUTUSJOH
    GPSJUT 2>=C4GC3 BSHVNFOU UIFOUIF6"NVTUSFUVSOBSFGFSFODFUPBOPCKFDUJNQMFNFOUJOH
    $BOWBT3FOEFSJOH$POUFYU% Q 0UIFSTQFDJИDBUJPOTNBZEFИOFUIFJSPXODPOUFYUT XIJDIXPVMESFUVSOEJЗFSFOU
    PCKFDUT

    7FOEPSTNBZBMTPEFИOFFYQFSJNFOUBMDPOUFYUTVTJOHUIFTZOUBY .&'*&%'&,0, GPSFYBNQMF NP[E

    8IFOUIF6"JTQBTTFEBOFNQUZTUSJOHPSBTUSJOHTQFDJGZJOHBDPOUFYUUIBUJUEPFTOPUTVQQPSU UIFOJUNVTUSFUVSO
    OVMM4USJOHDPNQBSJTPOTNVTUCF DBTFTFOTJUJWF Q 

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    NKE  <:GO:L OJ"<O<30* 7 MRI>
     8
    3FUVSOTB EBUB 63-GPSUIFJNBHFJOUIFDBOWBT
    5IFИSTUBSHVNFOU JGQSPWJEFE DPOUSPMTUIFUZQFPGUIFJNBHFUPCFSFUVSOFE FH1/(PS+1&(
    5IF
    EFGBVMUJT JNBHFQOHUIBUUZQFJTBMTPVTFEJGUIFHJWFOUZQFJTOUTVQQPSUFE5IFPUIFSBSHVNFOUTBSF
    TQFDJИDUPUIFUZQF BOEDPOUSPMUIFXBZUIBUUIFJNBHFJTHFOFSBUFE BTHJWFOJOUIFUBCMFCFMPX

    5IF OJ"<O<30* NFUIPENVTU XIFODBMMFEXJUIOPBSHVNFOUT SFUVSOB EBUB 63-DPOUBJOJOHBSFQSFTFOUBUJPOPGUIF


    JNBHFBTB1/(ИMF <1/(> Q

    *GUIFDBOWBTIBTOPQJYFMT JFFJUIFSJUTIPSJ[POUBMEJNFOTJPOPSJUTWFSUJDBMEJNFOTJPOJT[FSP
    UIFOUIFNFUIPENVTU
    SFUVSOUIFTUSJOHEBUB  5IJTJTUIFTIPSUFTU EBUB 63-JUSFQSFTFOUTUIFFNQUZTUSJOHJOB UFYUQMBJO SFTPVSDF

    8IFOUIF UP%BUB63- ,1(


    Q NFUIPEJTDBMMFEXJUIPOF >A<>A4 BSHVNFOUT JUNVTUSFUVSOB EBUB 63-DPOUBJOJOHB
    SFQSFTFOUBUJPOPGUIFJNBHFJOUIFGPSNBUHJWFOCZ CH?45IFQPTTJCMFWBMVFTBSF .*.&UZQFT Q XJUIOPQBSBNFUFST
    GPSFYBNQMF JNBHFQOH JNBHFKQFH PSFWFONBZCF JNBHFTWH YNM JGUIFJNQMFNFOUBUJPOBDUVBMMZLFFQTFOPVHI
    JOGPSNBUJPOUPSFMJBCMZSFOEFSBO47(JNBHFGSPNUIFDBOWBT

    'PSJNBHFUZQFTUIBUEPOPUTVQQPSUBOBMQIBDIBOOFM UIFJNBHFNVTUCFDPNQPTJUFEPOUPBTPMJECMBDLCBDLHSPVOE
    VTJOHUIFTPVSDFPWFSPQFSBUPS BOEUIFSFTVMUJOHJNBHFNVTUCFUIFPOFVTFEUPDSFBUFUIF EBUB 63-

    0OMZTVQQPSUGPS JNBHFQOH JTSFRVJSFE6TFSBHFOUTNBZTVQQPSUPUIFSUZQFT*GUIFVTFSBHFOUEPFTOPUTVQQPSUUIF


    SFRVFTUFEUZQF JUNVTUSFUVSOUIFJNBHFVTJOHUIF1/(GPSNBU

    6TFSBHFOUTNVTU DPOWFSUUIFQSPWJEFEUZQFUP"4$**MPXFSDBTF Q CFGPSFFTUBCMJTIJOHJGUIFZTVQQPSUUIBUUZQFBOE


    CFGPSFDSFBUJOHUIF EBUB 63-

    *HM> 3A>GMKRBG@MHNL>MRI>LHMA>KMA:G BF:@>IG@ :NMAHKL<:G<A><DB?MA>BF:@>P:LK>:EER


    K>MNKG>=BGMA>K>JN>LM>=?HKF:M;R<A><DBG@MHL>>B?MA>K>MNKG>=LMKBG@LM:KMLPBMAHG>MA>
    >Q:<MLMKBG@L=:M:BF:@>IG@ HK=:M:BF:@>IG@ %?BM=H>L MA>BF:@>BL,*# :G=MANLMA>
    K>JN>LM>=MRI>P:LGHMLNIIHKM>= 0A>HG>>Q<>IMBHGMHMABLBLB?MA><:GO:LA:L>BMA>KGHA>B@AM
    HKGHPB=MA BGPAB<A<:L>MA>K>LNEMFB@AMLBFIER;>=:M:  

    *GUIFNFUIPEJTJOWPLFEXJUIUIFИSTUBSHVNFOUHJWJOHBUZQFDPSSFTQPOEJOHUPPOFPGUIFUZQFTHJWFOJOUIFИSTU
    DPMVNOPGUIFGPMMPXJOHUBCMF BOEUIFVTFSBHFOUTVQQPSUTUIBUUZQF UIFOUIFTVCTFRVFOUBSHVNFOUT JGBOZ NVTUCF
    USFBUFEBTEFTDSJCFEJOUIFTFDPOEDFMMPGUIBUSPX

    0SJ? +NB?L;LAOG?HNM

    JNBHF 5IFTFDPOEBSHVNFOU JGJU JTBOVNCFSJOUIFSBOHFUPJODMVTJWF NVTUCF USFBUFEBTUIFEFTJSFERVBMJUZMFWFM *GJUJTOPUB


    KQFH OVNCFSPSJTPVUTJEFUIBUSBOHF UIFVTFSBHFOUNVTUVTFJUTEFGBVMUWBMVF BTJGUIFBSHVNFOUIBECFFOPNJUUFE

    'PSUIFQVSQPTFTPGUIFTFSVMFT BOBSHVNFOUJTDPOTJEFSFEUPCFBOVNCFSJGJUJTDPOWFSUFEUPBO*%-EPVCMFWBMVFCZ
    UIFSVMFTGPSIBOEMJOHBSHVNFOUTPGUZQF BOZ JOUIF8FC*%-TQFDJИDBUJPO <8&#*%-> Q

    
    0UIFSBSHVNFOUTNVTUCFJHOPSFEBOENVTUOPUDBVTFUIFVTFSBHFOUUPSBJTFBOFYDFQUJPO"GVUVSFWFSTJPOPGUIJT
    TQFDJИDBUJPOXJMMQSPCBCMZEFИOFPUIFSQBSBNFUFSTUPCFQBTTFEUP UP%BUB63-
    Q UPBMMPXBVUIPSTUPNPSFDBSFGVMMZ
    DPOUSPMDPNQSFTTJPOTFUUJOHT JNBHFNFUBEBUB FUD

        0B? =IHN?RN

    8IFOUIF HFU$POUFYU
    Q NFUIPEPGB DBOWBT Q FMFNFOUJTJOWPLFEXJUI ? BTUIFBSHVNFOU B
    $BOWBT3FOEFSJOH$POUFYU% Q PCKFDUJTSFUVSOFE

    5IFSFJTPOMZPOF $BOWBT3FOEFSJOH$POUFYU% Q PCKFDUQFSDBOWBT TPDBMMJOHUIF HFU$POUFYU


    Q NFUIPEXJUIUIF
    E Q BSHVNFOUBTFDPOEUJNFNVTUSFUVSOUIFTBNFPCKFDU

    5IF%DPOUFYUSFQSFTFOUTBЙBU$BSUFTJBOTVSGBDFXIPTFPSJHJO  
    JTBUUIFUPQMFGUDPSOFS XJUIUIFDPPSEJOBUF
    TQBDFIBWJOH G WBMVFTJODSFBTJOHXIFOHPJOHSJHIU BOE H WBMVFTJODSFBTJOHXIFOHPJOHEPXO

    JOUFSGBDF !<IQ<N0@I?@MDIB!JIO@SO" \

    CBDLSFGFSFODFUPUIFDBOWBT
    SFBEPOMZBUUSJCVUF )5.-$BOWBT&MFNFOU DBOWBT

    TUBUF
    WPJE TBWF
    QVTITUBUFPOTUBUFTUBDL
    WPJE SFTUPSF
    QPQTUBUFTUBDLBOESFTUPSFTUBUF

    USBOTGPSNBUJPOT EFGBVMUUSBOTGPSNJTUIFJEFOUJUZNBUSJY

    WPJE TDBMF JOGMPBUY JOGMPBUZ


    
    WPJE SPUBUF JOGMPBUBOHMF
    
    WPJE USBOTMBUF JOGMPBUY JOGMPBUZ
    
    WPJE USBOTGPSN JOGMPBUN JOGMPBUN JOGMPBUN JOGMPBUN JOGMPBUEY JO
    GMPBUEZ
    
    WPJE TFU5SBOTGPSN JOGMPBUN JOGMPBUN JOGMPBUN JOGMPBUN JOGMPBUEY JO
    GMPBUEZ
    

    DPNQPTJUJOH
    BUUSJCVUFGMPBU HMPCBM"MQIB EFGBVMU

    BUUSJCVUF%0.4USJOH HMPCBM$PNQPTJUF0QFSBUJPO EFGBVMUTPVSDFPWFS

    DPMPSTBOETUZMFT
    BUUSJCVUFBOZ TUSPLF4UZMF EFGBVMUCMBDL

    BUUSJCVUFBOZ GJMM4UZMF EFGBVMUCMBDL

    $BOWBT(SBEJFOU DSFBUF-JOFBS(SBEJFOU JOGMPBUY JOGMPBUZ JOGMPBUY JOGMPBUZ


    
    $BOWBT(SBEJFOU DSFBUF3BEJBM(SBEJFOU JOGMPBUY JOGMPBUZ JOGMPBUS JOGMPBUY
    JOGMPBUZ JOGMPBUS
    
    $BOWBT1BUUFSO DSFBUF1BUUFSO JO )5.-*NBHF&MFNFOU JNBHF JO%0.4USJOHSFQFUJUJPO
    
    $BOWBT1BUUFSO DSFBUF1BUUFSO JO )5.-$BOWBT&MFNFOU JNBHF JO%0.4USJOHSFQFUJUJPO
    
    $BOWBT1BUUFSO DSFBUF1BUUFSO JO )5.-7JEFP&MFNFOU JNBHF JO%0.4USJOHSFQFUJUJPO
    

    MJOFDBQTKPJOT
    BUUSJCVUFGMPBU MJOF8JEUI EFGBVMU

    BUUSJCVUF%0.4USJOH MJOF$BQCVUU SPVOE TRVBSF EFGBVMUCVUU

    BUUSJCVUF%0.4USJOH MJOF+PJOSPVOE CFWFM NJUFS EFGBVMUNJUFS

    BUUSJCVUFGMPBU NJUFS-JNJU EFGBVMU

    TIBEPXT
    BUUSJCVUFGMPBU TIBEPX0GGTFU9 EFGBVMU

    BUUSJCVUFGMPBU TIBEPX0GGTFU: EFGBVMU

    BUUSJCVUFGMPBU TIBEPX#MVS EFGBVMU

    BUUSJCVUF%0.4USJOH TIBEPX$PMPS EFGBVMUUSBOTQBSFOUCMBDL

    SFDUT
    WPJE DMFBS3FDU JOGMPBUY JOGMPBUZ JOGMPBUX JOGMPBUI
    
    WPJE GJMM3FDU JOGMPBUY JOGMPBUZ JOGMPBUX JOGMPBUI
    
    WPJE TUSPLF3FDU JOGMPBUY JOGMPBUZ JOGMPBUX JOGMPBUI
    

    
    QBUI"1*
    WPJE CFHJO1BUI
    
    WPJE DMPTF1BUI
    
    WPJE NPWF5P JOGMPBUY JOGMPBUZ
    
    WPJE MJOF5P JOGMPBUY JOGMPBUZ
    
    WPJE RVBESBUJD$VSWF5P JOGMPBUDQY JOGMPBUDQZ JOGMPBUY JOGMPBUZ
    
    WPJE CF[JFS$VSWF5P JOGMPBUDQY JOGMPBUDQZ JOGMPBUDQY JOGMPBUDQZ JOGMPBU
    Y JOGMPBUZ
    
    WPJE BSD5P JOGMPBUY JOGMPBUZ JOGMPBUY JOGMPBUZ JOGMPBUSBEJVT
    
    WPJE SFDU JOGMPBUY JOGMPBUZ JOGMPBUX JOGMPBUI
    
    WPJE BSD JOGMPBUY JOGMPBUZ JOGMPBUSBEJVT JOGMPBUTUBSU"OHMF JOGMPBUFOE"OHMF
    JOCPPMFBOBOUJDMPDLXJTF
    
    WPJE GJMM
    
    WPJE TUSPLF
    
    WPJE DMJQ
    
    CPPMFBO JT1PJOU*O1BUI JOGMPBUY JOGMPBUZ
    

    GPDVTNBOBHFNFOU
    CPPMFBO ESBX'PDVT3JOH JO &MFNFOU FMFNFOU JOGMPBUY$BSFU JOGMPBUZ$BSFU JOPQUJPOBM
    CPPMFBODBO%SBX$VTUPN
    

    UFYU
    BUUSJCVUF%0.4USJOH GPOU EFGBVMUQYTBOTTFSJG

    BUUSJCVUF%0.4USJOH UFYU"MJHOTUBSU FOE MFGU SJHIU DFOUFS


    EFGBVMUTUBSU

    BUUSJCVUF%0.4USJOH UFYU#BTFMJOFUPQ IBOHJOH NJEEMF BMQIBCFUJD


    JEFPHSBQIJD CPUUPN EFGBVMUBMQIBCFUJD

    WPJE GJMM5FYU JO%0.4USJOHUFYU JOGMPBUY JOGMPBUZ JOPQUJPOBMGMPBUNBY8JEUI


    
    WPJE TUSPLF5FYU JO%0.4USJOHUFYU JOGMPBUY JOGMPBUZ JOPQUJPOBMGMPBUNBY8JEUI
    
    5FYU.FUSJDT NFBTVSF5FYU JO%0.4USJOHUFYU
    

    ESBXJOHJNBHFT
    WPJE ESBX*NBHF JO )5.-*NBHF&MFNFOU JNBHF JOGMPBUEY JOGMPBUEZ JOPQUJPOBMGMPBUEX
    JOGMPBUEI
    
    WPJE ESBX*NBHF JO )5.-*NBHF&MFNFOU JNBHF JOGMPBUTY JOGMPBUTZ JOGMPBUTX JOGMPBU
    TI JOGMPBUEY JOGMPBUEZ JOGMPBUEX JOGMPBUEI
    
    WPJE ESBX*NBHF JO )5.-$BOWBT&MFNFOU JNBHF JOGMPBUEY JOGMPBUEZ JOPQUJPOBMGMPBU
    EX JOGMPBUEI
    
    WPJE ESBX*NBHF JO )5.-$BOWBT&MFNFOU JNBHF JOGMPBUTY JOGMPBUTZ JOGMPBUTX JO
    GMPBUTI JOGMPBUEY JOGMPBUEZ JOGMPBUEX JOGMPBUEI
    
    WPJE ESBX*NBHF JO )5.-7JEFP&MFNFOU JNBHF JOGMPBUEY JOGMPBUEZ JOPQUJPOBMGMPBUEX
    JOGMPBUEI
    
    WPJE ESBX*NBHF JO )5.-7JEFP&MFNFOU JNBHF JOGMPBUTY JOGMPBUTZ JOGMPBUTX JOGMPBU
    TI JOGMPBUEY JOGMPBUEZ JOGMPBUEX JOGMPBUEI
    

    QJYFMNBOJQVMBUJPO
    *NBHF%BUB DSFBUF*NBHF%BUB JOGMPBUTX JOGMPBUTI
    
    *NBHF%BUB DSFBUF*NBHF%BUB JO *NBHF%BUB JNBHFEBUB
    
    *NBHF%BUB HFU*NBHF%BUB JOGMPBUTY JOGMPBUTZ JOGMPBUTX JOGMPBUTI
    
    WPJE QVU*NBHF%BUB JO *NBHF%BUB JNBHFEBUB JOGMPBUEY JOGMPBUEZ JOPQUJPOBMGMPBU
    EJSUZ9 JOGMPBUEJSUZ: JOGMPBUEJSUZ8JEUI JOGMPBUEJSUZ)FJHIU
    
    ^

    JOUFSGBDF !<IQ<N%M<?D@IO \
    PQBRVFPCKFDU
    WPJE BEE$PMPS4UPQ JOGMPBUPGGTFU JO%0.4USJOHDPMPS
    
    ^

    JOUFSGBDF !<IQ<N.<OO@MI \
    PQBRVFPCKFDU
    ^

    JOUFSGBDF 2@SO+@OMD>N \
    SFBEPOMZBUUSJCVUFGMPBU XJEUI

    
    ^

    JOUFSGBDF 'H<B@"<O< \
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH XJEUI
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH IFJHIU
    SFBEPOMZBUUSJCVUF $BOWBT1JYFM"SSBZ EBUB
    ^

    JOUFSGBDF !<IQ<N.DS@GMM<T \
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH MFOHUI
    HFUUFS PDUFU JOVOTJHOFEMPOHJOEFY
    
    TFUUFS WPJE JOVOTJHOFEMPOHJOEFY JOPDUFUWBMVF
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    <HGM>QM ><IQ<N
    3FUVSOTUIF DBOWBT Q FMFNFOU

    5IF ><IQ<N BUUSJCVUFNVTUSFUVSOUIF DBOWBT Q FMFNFOUUIBUUIFDPOUFYUQBJOUTPO

    &YDFQUXIFSFPUIFSXJTFTQFDJИFE GPSUIF%DPOUFYUJOUFSGBDF BOZNFUIPEDBMMXJUIBOVNFSJDBSHVNFOUXIPTFWBMVF


    JTJOИOJUFPSB/B/WBMVFNVTUCFJHOPSFE

    8IFOFWFSUIF$44WBMVF DVSSFOU$PMPS JTVTFEBTBDPMPSJOUIJT"1* UIFDPNQVUFEWBMVFPGUIFDPMPSQSPQFSUZGPS


    UIFQVSQPTFTPGEFUFSNJOJOHUIFDPNQVUFEWBMVFPGUIF DVSSFOU$PMPS LFZXPSEJTUIFDPNQVUFEWBMVFPGUIFDPMPS
    QSPQFSUZPOUIFFMFNFOUJORVFTUJPOBUUIFUJNFUIBUUIFDPMPSJTTQFDJИFE FHXIFOUIFBQQSPQSJBUFBUUSJCVUFJTTFU
    PSXIFOUIFNFUIPEJTDBMMFEOPUXIFOUIFDPMPSJTSFOEFSFEPSPUIFSXJTFVTFE
    *GUIFDPNQVUFEWBMVFPGUIFDPMPS
    QSPQFSUZJTVOEFИOFEGPSBQBSUJDVMBSDBTF FHCFDBVTFUIFFMFNFOUJTOPU JOB %PDVNFOU Q
    UIFOUIFDPNQVUFE
    WBMVFPGUIFDPMPSQSPQFSUZGPSUIFQVSQPTFTPGEFUFSNJOJOHUIFDPNQVUFEWBMVFPGUIF DVSSFOU$PMPS LFZXPSEJTGVMMZ
    PQBRVFCMBDL <$44$0-03> Q

         0A><:GO:LLM:M>

    &BDIDPOUFYUNBJOUBJOTBTUBDLPGESBXJOHTUBUFT L;QCHAMN;N?M DPOTJTUPG

    Ǭ 5IFDVSSFOU USBOTGPSNBUJPONBUSJY Q 


    Ǭ 5IFDVSSFOU DMJQQJOHSFHJPO Q 
    Ǭ 5IFDVSSFOUWBMVFTPGUIFGPMMPXJOHBUUSJCVUFT TUSPLF4UZMF Q GJMM4UZMF Q HMPCBM"MQIB Q
    MJOF8JEUI Q MJOF$BQ Q MJOF+PJO Q NJUFS-JNJU Q TIBEPX0GGTFU9 Q TIBEPX0GGTFU: Q
    TIBEPX#MVS Q TIBEPX$PMPS Q HMPCBM$PNQPTJUF0QFSBUJPO Q GPOU Q UFYU"MJHO Q
    UFYU#BTFMJOF Q 

    *HM> 0A><NKK>GMI:MA:G=MA><NKK>GM;BMF:I:K>GHMI:KMH?MA>=K:PBG@LM:M> 0A><NKK>GMI:MA


    BLI>KLBLM>GM :G=<:GHGER;>K>L>MNLBG@MA> ;>@BG.:MA I F>MAH= 0A><NKK>GM;BMF:IBL:
    IKHI>KMRH?MA><:GO:L GHMMA><HGM>QM

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <HGM>QM N<Q@ K 
    1VTIFTUIFDVSSFOUTUBUFPOUPUIFTUBDL

    <HGM>QM M@NOJM@ K 


    1PQTUIFUPQTUBUFPOUIFTUBDL SFTUPSJOHUIFDPOUFYUUPUIBUTUBUF

    5IF N<Q@ NFUIPENVTUQVTIBDPQZPGUIFDVSSFOUESBXJOHTUBUFPOUPUIFESBXJOHTUBUFTUBDL

    5IF M@NOJM@ NFUIPENVTUQPQUIFUPQFOUSZJOUIFESBXJOHTUBUFTUBDL BOESFTFUUIFESBXJOHTUBUFJUEFTDSJCFT*G


    UIFSFJTOPTBWFETUBUF UIFNFUIPENVTUEPOPUIJOH

    
         0K:GL?HKF:MBHGL

    5IFUSBOTGPSNBUJPONBUSJYJTBQQMJFEUPDPPSEJOBUFTXIFODSFBUJOHTIBQFTBOEQBUIT

    8IFOUIFDPOUFYUJTDSFBUFE UIFUSBOTGPSNBUJPONBUSJYNVTUJOJUJBMMZCFUIFJEFOUJUZUSBOTGPSN*UNBZUIFOCF
    BEKVTUFEVTJOHUIFUSBOTGPSNBUJPONFUIPET

    5IFUSBOTGPSNBUJPOTNVTUCFQFSGPSNFEJOSFWFSTFPSEFS'PSJOTUBODF JGBTDBMFUSBOTGPSNBUJPOUIBUEPVCMFTUIFXJEUI
    JTBQQMJFE GPMMPXFECZBSPUBUJPOUSBOTGPSNBUJPOUIBUSPUBUFTESBXJOHPQFSBUJPOTCZBRVBSUFSUVSO BOEBSFDUBOHMF
    UXJDFBTXJEFBTJUJTUBMMJTUIFOESBXOPOUIFDBOWBT UIFBDUVBMSFTVMUXJMMCFBTRVBSF

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <HGM>QM N><G@ K Q
    R
    $IBOHFTUIFUSBOTGPSNBUJPONBUSJYUPBQQMZBTDBMJOHUSBOTGPSNBUJPOXJUIUIFHJWFODIBSBDUFSJTUJDT

    <HGM>QM MJO<O@ K :G@E>


    $IBOHFTUIFUSBOTGPSNBUJPONBUSJYUPBQQMZBSPUBUJPOUSBOTGPSNBUJPOXJUIUIFHJWFODIBSBDUFSJTUJDT5IF
    BOHMFJTJOSBEJBOT

    <HGM>QM OM<ING<O@ K Q


    R
    $IBOHFTUIFUSBOTGPSNBUJPONBUSJYUPBQQMZBUSBOTMBUJPOUSBOTGPSNBUJPOXJUIUIFHJWFODIBSBDUFSJTUJDT

    <HGM>QM OM<INAJMH K F


    F
    F
    F
    =Q
    =R
    $IBOHFTUIFUSBOTGPSNBUJPONBUSJYUPBQQMZUIFNBUSJYHJWFOCZUIFBSHVNFOUTBTEFTDSJCFECFMPX

    <HGM>QM N@O2M<INAJMH K F


    F
    F
    F
    =Q
    =R
    $IBOHFTUIFUSBOTGPSNBUJPONBUSJY C> UIFNBUSJYHJWFOCZUIFBSHVNFOUTBTEFTDSJCFECFMPX

    5IF N><G@Q R NFUIPENVTUBEEUIFTDBMJOHUSBOTGPSNBUJPOEFTDSJCFECZUIFBSHVNFOUTUPUIFUSBOTGPSNBUJPO


    NBUSJY5IF G BSHVNFOUSFQSFTFOUTUIFTDBMFGBDUPSJOUIFIPSJ[POUBMEJSFDUJPOBOEUIF H BSHVNFOUSFQSFTFOUTUIFTDBMF
    GBDUPSJOUIFWFSUJDBMEJSFDUJPO5IFGBDUPSTBSFNVMUJQMFT

    5IF MJO<O@:G@E> NFUIPENVTUBEEUIFSPUBUJPOUSBOTGPSNBUJPOEFTDSJCFECZUIFBSHVNFOUUPUIFUSBOTGPSNBUJPO


    NBUSJY5IF 0=6;4 BSHVNFOUSFQSFTFOUTBDMPDLXJTFSPUBUJPOBOHMFFYQSFTTFEJOSBEJBOT

    5IF OM<ING<O@Q R NFUIPENVTUBEEUIFUSBOTMBUJPOUSBOTGPSNBUJPOEFTDSJCFECZUIFBSHVNFOUTUPUIF


    USBOTGPSNBUJPONBUSJY5IF G BSHVNFOUSFQSFTFOUTUIFUSBOTMBUJPOEJTUBODFJOUIFIPSJ[POUBMEJSFDUJPOBOEUIF H
    BSHVNFOUSFQSFTFOUTUIFUSBOTMBUJPOEJTUBODFJOUIFWFSUJDBMEJSFDUJPO5IFBSHVNFOUTBSFJODPPSEJOBUFTQBDFVOJUT

    5IF OM<INAJMHF F F F =Q =R NFUIPENVTUNVMUJQMZUIFDVSSFOUUSBOTGPSNBUJPONBUSJYXJUIUIF


    NBUSJYEFTDSJCFECZ

    < < 3G
    < < 3H
      

    5IF N@O2M<INAJMHF F F F =Q =R NFUIPENVTUSFTFUUIFDVSSFOUUSBOTGPSNUPUIFJEFOUJUZNBUSJY


    BOEUIFOJOWPLFUIF USBOTGPSN Q % % % % 0 1
    NFUIPEXJUIUIFTBNFBSHVNFOUT

         HFIHLBMBG@

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    <HGM>QM BGJ=<GGKC< 7 O:EN> 8
    3FUVSOTUIFDVSSFOUBMQIBWBMVFBQQMJFEUPSFOEFSJOHPQFSBUJPOT
    $BOCFTFU UPDIBOHFUIFBMQIBWBMVF7BMVFTPVUTJEFPGUIFSBOHFBSFJHOPSFE

    <HGM>QM BGJ=<G!JHKJNDO@-K@M<ODJI K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUDPNQPTJUJPOPQFSBUJPO GSPNUIFMJTUCFMPX
    $BOCFTFU UPDIBOHFUIFDPNQPTJUJPOPQFSBUJPO6OLOPXOWBMVFTBSFJHOPSFE

    
    "MMESBXJOHPQFSBUJPOTBSFBЗFDUFECZUIFHMPCBMDPNQPTJUJOHBUUSJCVUFT HMPCBM"MQIB Q BOE
    HMPCBM$PNQPTJUF0QFSBUJPO Q 

    5IF BGJ=<GGKC< BUUSJCVUFHJWFTBOBMQIBWBMVFUIBUJTBQQMJFEUPTIBQFTBOEJNBHFTCFGPSFUIFZBSFDPNQPTJUFEPOUP


    UIFDBOWBT5IFWBMVFNVTUCFJOUIFSBOHFGSPN GVMMZUSBOTQBSFOU
    UP OPBEEJUJPOBMUSBOTQBSFODZ
    *GBO
    BUUFNQUJTNBEFUPTFUUIFBUUSJCVUFUPBWBMVFPVUTJEFUIJTSBOHF JODMVEJOH*OИOJUZBOE/PUB/VNCFS /B/
    WBMVFT
    UIFBUUSJCVUFNVTUSFUBJOJUTQSFWJPVTWBMVF8IFOUIFDPOUFYUJTDSFBUFE UIF HMPCBM"MQIB Q BUUSJCVUFNVTUJOJUJBMMZ
    IBWFUIFWBMVF

    5IF BGJ=<G!JHKJNDO@-K@M<ODJI BUUSJCVUFTFUTIPXTIBQFTBOEJNBHFTBSFESBXOPOUPUIFFYJTUJOHCJUNBQ PODFUIFZ


    IBWFIBE HMPCBM"MQIB Q BOEUIFDVSSFOUUSBOTGPSNBUJPONBUSJYBQQMJFE*UNVTUCFTFUUPBWBMVFGSPNUIFGPMMPXJOH
    MJTU*OUIFEFTDSJQUJPOTCFMPX UIFTPVSDFJNBHF  JTUIFTIBQFPSJNBHFCFJOHSFOEFSFE BOEUIFEFTUJOBUJPOJNBHF
     JTUIFDVSSFOUTUBUFPGUIFCJUNBQ

    LHNK<> :MHI
     BUPQ %JTQMBZUIFTPVSDFJNBHFXIFSFWFSCPUIJNBHFTBSFPQBRVF%JTQMBZUIFEFTUJOBUJPOJNBHFXIFSFWFS
    UIFEFTUJOBUJPOJNBHFJTPQBRVFCVUUIFTPVSDFJNBHFJTUSBOTQBSFOU%JTQMBZUSBOTQBSFODZFMTFXIFSF

    LHNK<> BG
     JO %JTQMBZUIFTPVSDFJNBHFXIFSFWFSCPUIUIFTPVSDFJNBHFBOEEFTUJOBUJPOJNBHFBSFPQBRVF%JTQMBZ
    USBOTQBSFODZFMTFXIFSF

    LHNK<> HNM
     PVU %JTQMBZUIFTPVSDFJNBHFXIFSFWFSUIFTPVSDFJNBHFJTPQBRVFBOEUIFEFTUJOBUJPOJNBHFJT
    USBOTQBSFOU%JTQMBZUSBOTQBSFODZFMTFXIFSF

    LHNK<> HO>K >?@;OFN


     PWFS %JTQMBZUIFTPVSDFJNBHFXIFSFWFSUIFTPVSDFJNBHFJTPQBRVF%JTQMBZUIFEFTUJOBUJPOJNBHF
    FMTFXIFSF

    =>LMBG:MBHG :MHI
     BUPQ 4BNFBT TPVSDFBUPQ Q CVUVTJOHUIFEFTUJOBUJPOJNBHFJOTUFBEPGUIFTPVSDFJNBHFBOEWJDFWFSTB

    =>LMBG:MBHG BG
     JO 4BNFBT TPVSDFJO Q CVUVTJOHUIFEFTUJOBUJPOJNBHFJOTUFBEPGUIFTPVSDFJNBHFBOEWJDFWFSTB

    =>LMBG:MBHG HNM
     PVU 4BNFBT TPVSDFPVU Q CVUVTJOHUIFEFTUJOBUJPOJNBHFJOTUFBEPGUIFTPVSDFJNBHFBOEWJDFWFSTB

    =>LMBG:MBHG HO>K
     PWFS 4BNFBT TPVSDFPWFS Q CVUVTJOHUIFEFTUJOBUJPOJNBHFJOTUFBEPGUIFTPVSDFJNBHFBOEWJDFWFSTB

    EB@AM>K
     QMVT %JTQMBZUIFTVNPGUIFTPVSDFJNBHFBOEEFTUJOBUJPOJNBHF XJUIDPMPSWBMVFTBQQSPBDIJOHBTBMJNJU

    <HIR
      JTJHOPSFE
    %JTQMBZUIFTPVSDFJNBHFJOTUFBEPGUIFEFTUJOBUJPOJNBHF

    QHK
     YPS &YDMVTJWF03PGUIFTPVSDFJNBHFBOEEFTUJOBUJPOJNBHF

    O>G=HK,:F> HI>K:MBHG,:F>
    7FOEPSTQFDJИDFYUFOTJPOTUPUIFMJTUPGDPNQPTJUJPOPQFSBUPSTTIPVMEVTFUIJTTZOUBY

    5IFTFWBMVFTBSFBMMDBTFTFOTJUJWFǡUIFZNVTUCFVTFEFYBDUMZBTTIPXO6TFSBHFOUTNVTUOPUSFDPHOJ[FWBMVFTUIBU
    BSFOPUB DBTFTFOTJUJWF Q NBUDIGPSPOFPGUIFWBMVFTHJWFOBCPWF

    5IFPQFSBUPSTJOUIFBCPWFMJTUNVTUCFUSFBUFEBTEFTDSJCFECZUIF1PSUFS%VЗPQFSBUPSHJWFOBUUIFTUBSUPGUIFJS
    EFTDSJQUJPO FH  PWFS 
     <1035&3%6''> Q

    0OTFUUJOH JGUIFVTFSBHFOUEPFTOPUSFDPHOJ[FUIFTQFDJИFEWBMVF JUNVTUCFJHOPSFE MFBWJOHUIFWBMVFPG


    HMPCBM$PNQPTJUF0QFSBUJPO Q VOBЗFDUFE

    8IFOUIFDPOUFYUJTDSFBUFE UIF HMPCBM$PNQPTJUF0QFSBUJPO Q BUUSJCVUFNVTUJOJUJBMMZIBWFUIFWBMVF TPVSDFPWFS

    
         HEHKL:G=LMRE>L

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    <HGM>QM NOMJF@1OTG@ 7 O:EN> 8
    3FUVSOTUIFDVSSFOUTUZMFVTFEGPSTUSPLJOHTIBQFT
    $BOCFTFU UPDIBOHFUIFTUSPLFTUZMF
    5IFTUZMFDBOCFFJUIFSBTUSJOHDPOUBJOJOHB$44DPMPS PSB $BOWBT(SBEJFOU Q PS $BOWBT1BUUFSO Q
    PCKFDU*OWBMJEWBMVFTBSFJHOPSFE

    <HGM>QM ADGG1OTG@ K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUTUZMFVTFEGPSИMMJOHTIBQFT
    $BOCFTFU UPDIBOHFUIFИMMTUZMF
    5IFTUZMFDBOCFFJUIFSBTUSJOHDPOUBJOJOHB$44DPMPS PSB $BOWBT(SBEJFOU Q PS $BOWBT1BUUFSO Q
    PCKFDU*OWBMJEWBMVFTBSFJHOPSFE

    5IF NOMJF@1OTG@ BUUSJCVUFSFQSFTFOUTUIFDPMPSPSTUZMFUPVTFGPSUIFMJOFTBSPVOETIBQFT BOEUIF ADGG1OTG@


    BUUSJCVUFSFQSFTFOUTUIFDPMPSPSTUZMFUPVTFJOTJEFUIFTIBQFT

    #PUIBUUSJCVUFTDBOCFFJUIFSTUSJOHT $BOWBT(SBEJFOU Q T PS $BOWBT1BUUFSO Q T0OTFUUJOH TUSJOHTNVTUCFQBSTFE


    BT$44DPMPSWBMVFTBOEUIFDPMPSBTTJHOFE BOE $BOWBT(SBEJFOU Q BOE $BOWBT1BUUFSO Q PCKFDUTNVTUCF
    BTTJHOFEUIFNTFMWFT <$44$0-03> Q *GUIFWBMVFJTBTUSJOHCVUJTOPUBWBMJEDPMPS PSJTOFJUIFSBTUSJOH B
    $BOWBT(SBEJFOU Q OPSB $BOWBT1BUUFSO Q UIFOJUNVTUCFJHOPSFE BOEUIFBUUSJCVUFNVTUSFUBJOJUTQSFWJPVT
    WBMVF

    8IFOTFUUPB $BOWBT1BUUFSO Q PS $BOWBT(SBEJFOU Q PCKFDU UIFBTTJHONFOUJT MJWF Q NFBOJOHUIBUDIBOHFTNBEF
    UPUIFPCKFDUBGUFSUIFBTTJHONFOUEPBЗFDUTVCTFRVFOUTUSPLJOHPSИMMJOHPGTIBQFT

    0OHFUUJOH JGUIFWBMVFJTBDPMPS UIFOUIF TFSJBMJ[BUJPOPGUIFDPMPS Q NVTUCFSFUVSOFE0UIFSXJTF JGJUJTOPUBDPMPS


    CVUB $BOWBT(SBEJFOU Q PS $BOWBT1BUUFSO Q UIFOUIFSFTQFDUJWFPCKFDUNVTUCFSFUVSOFE 4VDIPCKFDUTBSF
    PQBRVFBOEUIFSFGPSFPOMZVTFGVMGPSBTTJHOJOHUPPUIFSBUUSJCVUFTPSGPSDPNQBSJTPOUPPUIFSHSBEJFOUTPSQBUUFSOT

    5IF M?LC;FCT;NCIHI@;=IFIL GPSBDPMPSWBMVFJTBTUSJOH DPNQVUFEBTGPMMPXTJGJUIBTBMQIBFRVBMUP UIFOUIF


    TUSJOHJTBMPXFSDBTFTJYEJHJUIFYWBMVF QSFИYFEXJUIBDIBSBDUFS 6 /6.#&34*(/
    XJUIUIFИSTUUXPEJHJUT
    SFQSFTFOUJOHUIFSFEDPNQPOFOU UIFOFYUUXPEJHJUTSFQSFTFOUJOHUIFHSFFODPNQPOFOU BOEUIFMBTUUXPEJHJUT
    SFQSFTFOUJOHUIFCMVFDPNQPOFOU UIFEJHJUTCFJOHJOUIFSBOHFBG 6 UP6 BOE6 UP6 
    
    0UIFSXJTF UIFDPMPSWBMVFIBTBMQIBMFTTUIBO BOEUIFTUSJOHJTUIFDPMPSWBMVFJOUIF$44 SHCB
    GVODUJPOBM
    OPUBUJPOGPSNBUUIFMJUFSBMTUSJOH SHCB 6 6 6 6 
    GPMMPXFECZB6 -&'51"3&/5)&4*4
    BCBTFUFOJOUFHFSJOUIFSBOHFSFQSFTFOUJOHUIFSFEDPNQPOFOU VTJOHEJHJUT 6 UP6  JOUIF
    TIPSUFTUGPSNQPTTJCMF
    BMJUFSBM6 $$0.."BOE6 41"$& BOJOUFHFSGPSUIFHSFFODPNQPOFOU BDPNNB
    BOEBTQBDF BOJOUFHFSGPSUIFCMVFDPNQPOFOU BOPUIFSDPNNBBOETQBDF B6 %*(*5;&30 B6 &'6--
    4501 SFQSFTFOUJOHUIFEFDJNBMQPJOU
    POFPSNPSFEJHJUTJOUIFSBOHF 6 UP6 
    SFQSFTFOUJOHUIF
    GSBDUJPOBMQBSUPGUIFBMQIBWBMVF BOEИOBMMZB6 3*()51"3&/5)&4*4

    8IFOUIFDPOUFYUJTDSFBUFE UIF TUSPLF4UZMF Q BOE GJMM4UZMF Q BUUSJCVUFTNVTUJOJUJBMMZIBWFUIFTUSJOHWBMVF


    

    5IFSFBSFUXPUZQFTPGHSBEJFOUT MJOFBSHSBEJFOUTBOESBEJBMHSBEJFOUT CPUISFQSFTFOUFECZPCKFDUTJNQMFNFOUJOHUIF


    PQBRVF $BOWBT(SBEJFOU Q JOUFSGBDF

    0ODFBHSBEJFOUIBTCFFODSFBUFE TFFCFMPX
    TUPQTBSFQMBDFEBMPOHJUUPEFИOFIPXUIFDPMPSTBSFEJTUSJCVUFEBMPOH
    UIFHSBEJFOU 5IFDPMPSPGUIFHSBEJFOUBUFBDITUPQJTUIFDPMPSTQFDJИFEGPSUIBUTUPQ#FUXFFOFBDITVDITUPQ UIF
    DPMPSTBOEUIFBMQIBDPNQPOFOUNVTUCFMJOFBSMZJOUFSQPMBUFEPWFSUIF3(#"TQBDFXJUIPVUQSFNVMUJQMZJOHUIFBMQIB
    WBMVFUPИOEUIFDPMPSUPVTFBUUIBUPЗTFU#FGPSFUIFИSTUTUPQ UIFDPMPSNVTUCFUIFDPMPSPGUIFИSTUTUPQ"GUFSUIF
    MBTUTUPQ UIFDPMPSNVTUCFUIFDPMPSPGUIFMBTUTUPQ8IFOUIFSFBSFOPTUPQT UIFHSBEJFOUJTUSBOTQBSFOUCMBDL

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    @K:=B>GM <??!JGJM1OJK HZL>M
    <HEHK
    "EETBDPMPSTUPQXJUIUIFHJWFODPMPSUPUIFHSBEJFOUBUUIFHJWFOPЗTFUJTUIFPЗTFUBUPOFFOEPGUIF
    HSBEJFOU JTUIFPЗTFUBUUIFPUIFSFOE

    
    5ISPXTBO */%&9@4*;&@&33 Q FYDFQUJPOJGUIFPЗTFUJTPVUPGSBOHF5ISPXTB 4:/5"9@&33 Q FYDFQUJPOJG
    UIFDPMPSDBOOPUCFQBSTFE

    @K:=B>GM  <HGM>QM >M@<O@*DI@<M%M<?D@IO K Q


    R
    Q
    R
    3FUVSOTB $BOWBT(SBEJFOU Q PCKFDUUIBUSFQSFTFOUTBMJOFBSHSBEJFOUUIBUQBJOUTBMPOHUIFMJOFHJWFOCZ
    UIFDPPSEJOBUFTSFQSFTFOUFECZUIFBSHVNFOUT
    *GBOZPGUIFBSHVNFOUTBSFOPUИOJUFOVNCFST UISPXTB /05@4611035&%@&33 Q FYDFQUJPO

    @K:=B>GM  <HGM>QM >M@<O@0<?D<G%M<?D@IO K Q


    R
    K
    Q
    R
    K
    3FUVSOTB $BOWBT(SBEJFOU Q PCKFDUUIBUSFQSFTFOUTBSBEJBMHSBEJFOUUIBUQBJOUTBMPOHUIFDPOFHJWFOCZ
    UIFDJSDMFTSFQSFTFOUFECZUIFBSHVNFOUT
    *GBOZPGUIFBSHVNFOUTBSFOPUИOJUFOVNCFST UISPXTB /05@4611035&%@&33 Q FYDFQUJPO*GFJUIFSPGUIF
    SBEJJBSFOFHBUJWF UISPXTBO */%&9@4*;&@&33 Q FYDFQUJPO

    5IF <??!JGJM1OJKH??L>M <HEHK NFUIPEPOUIF $BOWBT(SBEJFOU Q JOUFSGBDFBEETBOFXTUPQUPBHSBEJFOU*GUIF


    >OB4C JTMFTTUIBO HSFBUFSUIBO JOИOJUF PS/B/ UIFOBO */%&9@4*;&@&33 Q FYDFQUJPONVTUCFSBJTFE*GUIF 2>;>A
    DBOOPUCFQBSTFEBTB$44DPMPS UIFOB 4:/5"9@&33 Q FYDFQUJPONVTUCFSBJTFE0UIFSXJTF UIFHSBEJFOUNVTUIBWFB
    OFXTUPQQMBDFE BUPЗTFU >OB4C SFMBUJWFUPUIFXIPMFHSBEJFOU BOEXJUIUIFDPMPSPCUBJOFECZQBSTJOH 2>;>A BTB$44
    DPMPSWBMVF*GNVMUJQMFTUPQTBSFBEEFEBUUIFTBNFPЗTFUPOBHSBEJFOU UIFZNVTUCFQMBDFEJOUIFPSEFSBEEFE
    XJUIUIFИSTUPOFDMPTFTUUPUIFTUBSUPGUIFHSBEJFOU BOEFBDITVCTFRVFOUPOFJOИOJUFTJNBMMZGVSUIFSBMPOHUPXBSET
    UIFFOEQPJOU JOFЗFDUDBVTJOHBMMCVUUIFИSTUBOEMBTUTUPQBEEFEBUFBDIQPJOUUPCFJHOPSFE
    

    5IF >M@<O@*DI@<M%M<?D@IOQ R Q R NFUIPEUBLFTGPVSBSHVNFOUTUIBUSFQSFTFOUUIFTUBSUQPJOU G H

    BOEFOEQPJOU G H
    PGUIFHSBEJFOU*GBOZPGUIFBSHVNFOUTUP DSFBUF-JOFBS(SBEJFOU
    Q BSFJOИOJUFPS/B/ UIF
    NFUIPENVTUSBJTFB /05@4611035&%@&33 Q FYDFQUJPO0UIFSXJTF UIFNFUIPENVTUSFUVSOBMJOFBS
    $BOWBT(SBEJFOU Q JOJUJBMJ[FEXJUIUIFTQFDJИFEMJOF

    -JOFBSHSBEJFOUTNVTUCFSFOEFSFETVDIUIBUBMMQPJOUTPOBMJOFQFSQFOEJDVMBSUPUIFMJOFUIBUDSPTTFTUIFTUBSUBOE
    FOEQPJOUTIBWFUIFDPMPSBUUIFQPJOUXIFSFUIPTFUXPMJOFTDSPTT XJUIUIFDPMPSTDPNJOHGSPNUIF JOUFSQPMBUJPOBOE
    FYUSBQPMBUJPO Q EFTDSJCFEBCPWF
    5IFQPJOUTJOUIFMJOFBSHSBEJFOUNVTUCFUSBOTGPSNFEBTEFTDSJCFECZUIF DVSSFOU
    USBOTGPSNBUJPONBUSJY Q XIFOSFOEFSJOH

    *G G  G BOE H  H UIFOUIFMJOFBSHSBEJFOUNVTUQBJOUOPUIJOH

    5IF >M@<O@0<?D<G%M<?D@IOQ R K Q R K NFUIPEUBLFTTJYBSHVNFOUT UIFИSTUUISFFSFQSFTFOUJOHUIF


    TUBSUDJSDMFXJUIPSJHJO G H
    BOESBEJVT A BOEUIFMBTUUISFFSFQSFTFOUJOHUIFFOEDJSDMFXJUIPSJHJO G H
    BOE
    SBEJVT A 5IFWBMVFTBSFJODPPSEJOBUFTQBDFVOJUT*GBOZPGUIFBSHVNFOUTBSFJOИOJUFPS/B/ B
    /05@4611035&%@&33 Q FYDFQUJPONVTUCFSBJTFE*GFJUIFSPG A PS A BSFOFHBUJWF BO */%&9@4*;&@&33 Q FYDFQUJPO
    NVTUCFSBJTFE0UIFSXJTF UIFNFUIPENVTUSFUVSOBSBEJBM $BOWBT(SBEJFOU Q JOJUJBMJ[FEXJUIUIFUXPTQFDJИFE
    DJSDMFT

    3BEJBMHSBEJFOUTNVTUCFSFOEFSFECZGPMMPXJOHUIFTFTUFQT

     *G G  G BOE H  H BOE A  A UIFOUIFSBEJBMHSBEJFOUNVTUQBJOUOPUIJOH"CPSUUIFTFTUFQT

     -FU Y M
     G G
    M G

    -FU Z M
     H H
    M H

    -FU S M
     A A
    M A

    -FUUIFDPMPSBU M CFUIFDPMPSBUUIBUQPTJUJPOPOUIFHSBEJFOU XJUIUIFDPMPSTDPNJOHGSPNUIF JOUFSQPMBUJPO


    BOEFYUSBQPMBUJPO Q EFTDSJCFEBCPWF
    

     'PSBMMWBMVFTPG M XIFSF S M
      TUBSUJOHXJUIUIFWBMVFPG M OFBSFTUUPQPTJUJWFJOИOJUZBOEFOEJOHXJUI
    UIFWBMVFPG M OFBSFTUUPOFHBUJWFJOИOJUZ ESBXUIFDJSDVNGFSFODFPGUIFDJSDMFXJUISBEJVT S M
    BUQPTJUJPO
    Y M
    Z M

    XJUIUIFDPMPSBU M CVUPOMZQBJOUJOHPOUIFQBSUTPGUIFDBOWBTUIBUIBWFOPUZFUCFFOQBJOUFE
    POCZFBSMJFSDJSDMFTJOUIJTTUFQGPSUIJTSFOEFSJOHPGUIFHSBEJFOU

    *HM> 0ABL>Z><MBO>ER<K>:M>L:<HG> MHN<A>=;RMA>MPH<BK<E>L=>[G>=BGMA><K>:MBHGH?MA>


    @K:=B>GM PBMAMA>I:KMH?MA><HG>;>?HK>MA>LM:KM<BK<E> NLBG@MA><HEHKH?MA>[KLMHZL>M
    MA>I:KMH?MA><HG>:?M>KMA>>G=<BK<E> NLBG@MA><HEHKH?MA>E:LMHZL>M :G=:K>:LHNMLB=>
    MA><HG>NGMHN<A>=;RMA>@K:=B>GMMK:GLI:K>GM;E:<D

    
    5IFQPJOUTJOUIFSBEJBMHSBEJFOUNVTUCFUSBOTGPSNFEBTEFTDSJCFECZUIF DVSSFOUUSBOTGPSNBUJPONBUSJY Q XIFO
    SFOEFSJOH

    (SBEJFOUTNVTUCFQBJOUFEPOMZXIFSFUIFSFMFWBOUTUSPLJOHPSИMMJOHFЗFDUTSFRVJSFTUIBUUIFZCFESBXO

    1BUUFSOTBSFSFQSFTFOUFECZPCKFDUTJNQMFNFOUJOHUIFPQBRVF $BOWBT1BUUFSO Q JOUFSGBDF

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    I:MM>KG  <HGM>QM >M@<O@.<OO@MI K BF:@>
    K>I>MBMBHG
    3FUVSOTB $BOWBT1BUUFSO Q PCKFDUUIBUVTFTUIFHJWFOJNBHFBOESFQFBUTJOUIFEJSFDUJPO T
    HJWFOCZUIF
    A4?4C8C8>= BSHVNFOU
    5IFBMMPXFEWBMVFTGPS A4?4C8C8>= BSF SFQFBU CPUIEJSFDUJPOT
    SFQFBUY IPSJ[POUBMPOMZ
    SFQFBUZ
    WFSUJDBMPOMZ
    BOE OPSFQFBU OFJUIFS
    *GUIF A4?4C8C8>= BSHVNFOUJTFNQUZPSOVMM UIFWBMVF SFQFBU JT
    VTFE
    *GUIFИSTUBSHVNFOUJTOUBO JNH Q DBOWBT Q PS WJEFP Q FMFNFOU UISPXTB 5:1&@.*4."5$)@&33 Q
    FYDFQUJPO*GUIFJNBHFIBTOPJNBHFEBUB UISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPO*GUIFTFDPOE
    BSHVNFOUJTOUPOFPGUIFBMMPXFEWBMVFT UISPXTB 4:/5"9@&33 Q FYDFQUJPO*GUIFJNBHFJTOUZFUGVMMZ
    EFDPEFE UIFOUIFNFUIPESFUVSOTOVMM

    5PDSFBUFPCKFDUTPGUIJTUZQF UIF >M@<O@.<OO@MIBF:@> K>I>MBMBHG NFUIPEJTVTFE5IFИSTUBSHVNFOUHJWFTUIF


    JNBHFUPVTFBTUIFQBUUFSO FJUIFSBO )5.-*NBHF&MFNFOU Q )5.-$BOWBT&MFNFOU Q PS )5.-7JEFP&MFNFOU Q
    PCKFDU
    .PEJGZJOHUIJTJNBHFBGUFSDBMMJOHUIF DSFBUF1BUUFSO
    Q NFUIPENVTUOPUBЗFDUUIFQBUUFSO5IFTFDPOE
    BSHVNFOUNVTUCFBTUSJOHXJUIPOFPGUIFGPMMPXJOHWBMVFT SFQFBU SFQFBUY SFQFBUZ OPSFQFBU*GUIFFNQUZ
    TUSJOHPSOVMMJTTQFDJИFE SFQFBU NVTUCFBTTVNFE*GBOVOSFDPHOJ[FEWBMVFJTHJWFO UIFOUIFVTFSBHFOUNVTUSBJTF
    B 4:/5"9@&33 Q FYDFQUJPO6TFSBHFOUTNVTUSFDPHOJ[FUIFGPVSWBMVFTEFTDSJCFEBCPWFFYBDUMZ FHUIFZNVTUOPU
    EPDBTFGPMEJOH
    5IFNFUIPENVTUSFUVSOB $BOWBT1BUUFSO Q PCKFDUTVJUBCMZJOJUJBMJ[FE

    5IF 8<064 BSHVNFOUJTBOJOTUBODFPGFJUIFS )5.-*NBHF&MFNFOU Q )5.-$BOWBT&MFNFOU Q PS )5.-7JEFP&MFNFOU Q 
    *GUIF 8<064 JTOVMM UIFJNQMFNFOUBUJPONVTUSBJTFB 5:1&@.*4."5$)@&33 Q FYDFQUJPO

    *GUIF 8<064 BSHVNFOUJTBO )5.-*NBHF&MFNFOU Q PCKFDUXIPTF DPNQMFUF Q BUUSJCVUFJTGBMTF PSJGUIF 8<064
    BSHVNFOUJTBO )5.-7JEFP&MFNFOU Q PCKFDUXIPTF SFBEZ4UBUF Q BUUSJCVUFJTFJUIFS )"7&@/05)*/( Q PS
    )"7&@.&5"%"5" Q UIFOUIFJNQMFNFOUBUJPONVTUSFUVSOOVMM

    *GUIF 8<064 BSHVNFOUJTBO )5.-$BOWBT&MFNFOU Q PCKFDUXJUIFJUIFSBIPSJ[POUBMEJNFOTJPOPSBWFSUJDBMEJNFOTJPO


    FRVBMUP[FSP UIFOUIFJNQMFNFOUBUJPONVTUSBJTFBO */7"-*%@45"5&@&33 Q FYDFQUJPO

    1BUUFSOTNVTUCFQBJOUFETPUIBUUIFUPQMFGUPGUIFИSTUJNBHFJTBODIPSFEBUUIFPSJHJOPGUIFDPPSEJOBUFTQBDF BOE
    JNBHFTBSFUIFOSFQFBUFEIPSJ[POUBMMZUPUIFMFGUBOESJHIU JGUIF SFQFBUY TUSJOHXBTTQFDJИFE
    PSWFSUJDBMMZVQBOE
    EPXO JGUIF SFQFBUZ TUSJOHXBTTQFDJИFE
    PSJOBMMGPVSEJSFDUJPOTBMMPWFSUIFDBOWBT JGUIF SFQFBU TUSJOHXBT
    TQFDJИFE
    5IFJNBHFTBSFOPUTDBMFECZUIJTQSPDFTTPOF$44QJYFMPGUIFJNBHFNVTUCFQBJOUFEPOPOFDPPSEJOBUF
    TQBDFVOJU0GDPVSTF QBUUFSOTNVTUBDUVBMMZCFQBJOUFEPOMZXIFSFUIFTUSPLJOHPSИMMJOHFЗFDUSFRVJSFTUIBUUIFZCF
    ESBXO BOEBSFBЗFDUFECZUIFDVSSFOUUSBOTGPSNBUJPONBUSJY

    8IFOUIF DSFBUF1BUUFSO
    Q NFUIPEJTQBTTFEBOBOJNBUFEJNBHFBTJUT 8<064 BSHVNFOU UIFVTFSBHFOUNVTUVTF
    UIFQPTUFSGSBNFPGUIFBOJNBUJPO PS JGUIFSFJTOPQPTUFSGSBNF UIFИSTUGSBNFPGUIFBOJNBUJPO

    8IFOUIF 8<064 BSHVNFOUJTBO )5.-7JEFP&MFNFOU Q UIFOUIFGSBNFBUUIF DVSSFOUQMBZCBDLQPTJUJPO Q NVTUCF


    VTFEBTUIFTPVSDFJNBHF BOEUIFTPVSDFJNBHFTEJNFOTJPOTNVTUCFUIF JOUSJOTJDXJEUI Q BOE JOUSJOTJDIFJHIU Q PG
    UIF NFEJBSFTPVSDF Q JFBGUFSBOZBTQFDUSBUJPDPSSFDUJPOIBTCFFOBQQMJFE
    

         (BG>LMRE>L

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    <HGM>QM GDI@5D?OC 7 O:EN> 8
    3FUVSOTUIFDVSSFOUMJOFXJEUI
    $BOCFTFU UPDIBOHFUIFMJOFXJEUI7BMVFTUIBUBSFOPUИOJUFWBMVFTHSFBUFSUIBO[FSPBSFJHOPSFE

    
    <HGM>QM GDI@!<K K 7 O:EN> 8
    3FUVSOTUIFDVSSFOUMJOFDBQTUZMF
    $BOCFTFU UPDIBOHFUIFMJOFDBQTUZMF
    5IFQPTTJCMFMJOFDBQTUZMFTBSF CVUU SPVOE BOE TRVBSF0UIFSWBMVFTBSFJHOPSFE

    <HGM>QM GDI@(JDI K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUMJOFKPJOTUZMF
    $BOCFTFU UPDIBOHFUIFMJOFKPJOTUZMF
    5IFQPTTJCMFMJOFKPJOTUZMFTBSF CFWFM SPVOE BOE NJUFS0UIFSWBMVFTBSFJHOPSFE

    <HGM>QM HDO@M*DHDO K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUNJUFSMJNJUSBUJP
    $BOCFTFU UPDIBOHFUIFNJUFSMJNJUSBUJP7BMVFTUIBUBSFOPUИOJUFWBMVFTHSFBUFSUIBO[FSPBSFJHOPSFE

    5IF GDI@5D?OC BUUSJCVUFHJWFTUIFXJEUIPGMJOFT JODPPSEJOBUFTQBDFVOJUT0OHFUUJOH JUNVTUSFUVSOUIFDVSSFOU


    WBMVF0OTFUUJOH [FSP OFHBUJWF JOИOJUF BOE/B/WBMVFTNVTUCFJHOPSFE MFBWJOHUIFWBMVFVODIBOHFEPUIFSWBMVFT
    NVTUDIBOHFUIFDVSSFOUWBMVFUPUIFOFXWBMVF

    8IFOUIFDPOUFYUJTDSFBUFE UIF MJOF8JEUI Q BUUSJCVUFNVTUJOJUJBMMZIBWFUIFWBMVF 

    5IF GDI@!<K BUUSJCVUFEFИOFTUIFUZQFPGFOEJOHTUIBU6"TXJMMQMBDFPOUIFFOEPGMJOFT5IFUISFFWBMJEWBMVFTBSF


    CVUU SPVOE BOE TRVBSF5IF CVUU WBMVFNFBOTUIBUUIFFOEPGFBDIMJOFIBTBЙBUFEHFQFSQFOEJDVMBSUPUIF
    EJSFDUJPOPGUIFMJOF BOEUIBUOPBEEJUJPOBMMJOFDBQJTBEEFE
    5IF SPVOE WBMVFNFBOTUIBUBTFNJDJSDMFXJUIUIF
    EJBNFUFSFRVBMUPUIFXJEUIPGUIFMJOFNVTUUIFOCFBEEFEPOUPUIFFOEPGUIFMJOF5IF TRVBSF WBMVFNFBOTUIBUB
    SFDUBOHMFXJUIUIFMFOHUIPGUIFMJOFXJEUIBOEUIFXJEUIPGIBMGUIFMJOFXJEUI QMBDFEЙBUBHBJOTUUIFFEHF
    QFSQFOEJDVMBSUPUIFEJSFDUJPOPGUIFMJOF NVTUCFBEEFEBUUIFFOEPGFBDIMJOF

    0OHFUUJOH JUNVTUSFUVSOUIFDVSSFOUWBMVF0OTFUUJOH JGUIFOFXWBMVFJTPOFPGUIFMJUFSBMTUSJOHT CVUU SPVOE BOE


    TRVBSF UIFOUIFDVSSFOUWBMVFNVTUCFDIBOHFEUPUIFOFXWBMVFPUIFSWBMVFTNVTUJHOPSFE MFBWJOHUIFWBMVF
    VODIBOHFE

    8IFOUIFDPOUFYUJTDSFBUFE UIF MJOF$BQ Q BUUSJCVUFNVTUJOJUJBMMZIBWFUIFWBMVF CVUU

    5IF GDI@(JDI BUUSJCVUFEFИOFTUIFUZQFPGDPSOFSTUIBU6"TXJMMQMBDFXIFSFUXPMJOFTNFFU5IFUISFFWBMJEWBMVFTBSF


    CFWFM SPVOE BOE NJUFS

    0OHFUUJOH JUNVTUSFUVSOUIFDVSSFOUWBMVF0OTFUUJOH JGUIFOFXWBMVFJTPOFPGUIFMJUFSBMTUSJOHT CFWFM SPVOE BOE


    NJUFS UIFOUIFDVSSFOUWBMVFNVTUCFDIBOHFEUPUIFOFXWBMVFPUIFSWBMVFTNVTUCFJHOPSFE MFBWJOHUIFWBMVF
    VODIBOHFE

    8IFOUIFDPOUFYUJTDSFBUFE UIF MJOF+PJO Q BUUSJCVUFNVTUJOJUJBMMZIBWFUIFWBMVF NJUFS

    "KPJOFYJTUTBUBOZQPJOUJOBTVCQBUITIBSFECZUXPDPOTFDVUJWFMJOFT8IFOBTVCQBUIJTDMPTFE UIFOBKPJOBMTP
    FYJTUTBUJUTИSTUQPJOU FRVJWBMFOUUPJUTMBTUQPJOU
    DPOOFDUJOHUIFИSTUBOEMBTUMJOFTJOUIFTVCQBUI

    *OBEEJUJPOUPUIFQPJOUXIFSFUIFKPJOPDDVST UXPBEEJUJPOBMQPJOUTBSFSFMFWBOUUPFBDIKPJO POFGPSFBDIMJOFUIFUXP


    DPSOFSTGPVOEIBMGUIFMJOFXJEUIBXBZGSPNUIFKPJOQPJOU POFQFSQFOEJDVMBSUPFBDIMJOF FBDIPOUIFTJEFGVSUIFTU
    GSPNUIFPUIFSMJOF

    "ИMMFEUSJBOHMFDPOOFDUJOHUIFTFUXPPQQPTJUFDPSOFSTXJUIBTUSBJHIUMJOF XJUIUIFUIJSEQPJOUPGUIFUSJBOHMFCFJOHUIF
    KPJOQPJOU NVTUCFSFOEFSFEBUBMMKPJOT5IF MJOF+PJO Q BUUSJCVUFDPOUSPMTXIFUIFSBOZUIJOHFMTFJTSFOEFSFE5IF
    UISFFBGPSFNFOUJPOFEWBMVFTIBWFUIFGPMMPXJOHNFBOJOHT

    5IF CFWFM WBMVFNFBOTUIBUUIJTJTBMMUIBUJTSFOEFSFEBUKPJOT

    5IF SPVOE WBMVFNFBOTUIBUBИMMFEBSDDPOOFDUJOHUIFUXPBGPSFNFOUJPOFEDPSOFSTPGUIFKPJO BCVUUJOH BOEOPU


    PWFSMBQQJOH
    UIFBGPSFNFOUJPOFEUSJBOHMF XJUIUIFEJBNFUFSFRVBMUPUIFMJOFXJEUIBOEUIFPSJHJOBUUIFQPJOUPGUIF
    KPJO NVTUCFSFOEFSFEBUKPJOT

    5IF NJUFS WBMVFNFBOTUIBUBTFDPOEИMMFEUSJBOHMFNVTU JGJUDBOHJWFOUIFNJUFSMFOHUI


    CFSFOEFSFEBUUIFKPJO XJUI
    POFMJOFCFJOHUIFMJOFCFUXFFOUIFUXPBGPSFNFOUJPOFEDPSOFST BCVUUJOHUIFИSTUUSJBOHMF BOEUIFPUIFSUXPCFJOH

    
    DPOUJOVBUJPOTPGUIFPVUTJEFFEHFTPGUIFUXPKPJOJOHMJOFT BTMPOHBTSFRVJSFEUPJOUFSTFDUXJUIPVUHPJOHPWFSUIF
    NJUFSMFOHUI

    5IFNJUFSMFOHUIJTUIFEJTUBODFGSPNUIFQPJOUXIFSFUIFKPJOPDDVSTUPUIFJOUFSTFDUJPOPGUIFMJOFFEHFTPOUIF
    PVUTJEFPGUIFKPJO5IFNJUFSMJNJUSBUJPJTUIFNBYJNVNBMMPXFESBUJPPGUIFNJUFSMFOHUIUPIBMGUIFMJOFXJEUI*GUIF
    NJUFSMFOHUIXPVMEDBVTFUIFNJUFSMJNJUSBUJPUPCFFYDFFEFE UIJTTFDPOEUSJBOHMFNVTUOPUCFSFOEFSFE

    5IFNJUFSMJNJUSBUJPDBOCFFYQMJDJUMZTFUVTJOHUIF HDO@M*DHDO BUUSJCVUF0OHFUUJOH JUNVTUSFUVSOUIFDVSSFOUWBMVF


    0OTFUUJOH [FSP OFHBUJWF JOИOJUF BOE/B/WBMVFTNVTUCFJHOPSFE MFBWJOHUIFWBMVFVODIBOHFEPUIFSWBMVFTNVTU
    DIBOHFUIFDVSSFOUWBMVFUPUIFOFXWBMVF

    8IFOUIFDPOUFYUJTDSFBUFE UIF NJUFS-JNJU Q BUUSJCVUFNVTUJOJUJBMMZIBWFUIFWBMVF 

         /A:=HPL

    "MMESBXJOHPQFSBUJPOTBSFBЗFDUFECZUIFGPVSHMPCBMTIBEPXBUUSJCVUFT

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <HGM>QM NC<?JR!JGJM K 7 O:EN> 8
    3FUVSOTUIFDVSSFOUTIBEPXDPMPS
    $BOCFTFU UPDIBOHFUIFTIBEPXDPMPS7BMVFTUIBUDBOOPUCFQBSTFEBT$44DPMPSTBSFJHOPSFE

    <HGM>QM NC<?JR-AAN@O6 K 7 O:EN> 8


    <HGM>QM NC<?JR-AAN@O7 K 7 O:EN> 8
    3FUVSOTUIFDVSSFOUTIBEPXPЗTFU
    $BOCFTFU UPDIBOHFUIFTIBEPXPЗTFU7BMVFTUIBUBSFOPUИOJUFOVNCFSTBSFJHOPSFE

    <HGM>QM NC<?JR GPM K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUMFWFMPGCMVSBQQMJFEUPTIBEPXT
    $BOCFTFU UPDIBOHFUIFCMVSMFWFM7BMVFTUIBUBSFOPUИOJUFOVNCFSTHSFBUFSUIBOPSFRVBMUP[FSPBSF
    JHOPSFE

    5IF NC<?JR!JGJM BUUSJCVUFTFUTUIFDPMPSPGUIFTIBEPX

    8IFOUIFDPOUFYUJTDSFBUFE UIF TIBEPX$PMPS Q BUUSJCVUFJOJUJBMMZNVTUCFGVMMZUSBOTQBSFOUCMBDL

    0OHFUUJOH UIF TFSJBMJ[BUJPOPGUIFDPMPS Q NVTUCFSFUVSOFE

    0OTFUUJOH UIFOFXWBMVFNVTUCFQBSTFEBTB$44DPMPSWBMVFBOEUIFDPMPSBTTJHOFE*GUIFWBMVFJTOPUBWBMJE
    DPMPS UIFOJUNVTUCFJHOPSFE BOEUIFBUUSJCVUFNVTUSFUBJOJUTQSFWJPVTWBMVF <$44$0-03> Q

    5IF NC<?JR-AAN@O6 BOE NC<?JR-AAN@O7 BUUSJCVUFTTQFDJGZUIFEJTUBODFUIBUUIFTIBEPXXJMMCFPЗTFUJOUIFQPTJUJWF


    IPSJ[POUBMBOEQPTJUJWFWFSUJDBMEJTUBODFSFTQFDUJWFMZ5IFJSWBMVFTBSFJODPPSEJOBUFTQBDFVOJUT5IFZBSFOPUBЗFDUFE
    CZUIFDVSSFOUUSBOTGPSNBUJPONBUSJY

    8IFOUIFDPOUFYUJTDSFBUFE UIFTIBEPXPЗTFUBUUSJCVUFTNVTUJOJUJBMMZIBWFUIFWBMVF 

    0OHFUUJOH UIFZNVTUSFUVSOUIFJSDVSSFOUWBMVF0OTFUUJOH UIFBUUSJCVUFCFJOHTFUNVTUCFTFUUPUIFOFXWBMVF


    FYDFQUJGUIFWBMVFJTJOИOJUFPS/B/ JOXIJDIDBTFUIFOFXWBMVFNVTUCFJHOPSFE

    5IF NC<?JR GPM BUUSJCVUFTQFDJИFTUIFTJ[FPGUIFCMVSSJOHFЗFDU 5IFVOJUTEPOPUNBQUPDPPSEJOBUFTQBDFVOJUT BOE


    BSFOPUBЗFDUFECZUIFDVSSFOUUSBOTGPSNBUJPONBUSJY

    8IFOUIFDPOUFYUJTDSFBUFE UIF TIBEPX#MVS Q BUUSJCVUFNVTUJOJUJBMMZIBWFUIFWBMVF 

    0OHFUUJOH UIFBUUSJCVUFNVTUSFUVSOJUTDVSSFOUWBMVF0OTFUUJOHUIFBUUSJCVUFNVTUCFTFUUPUIFOFXWBMVF FYDFQUJG


    UIFWBMVFJTOFHBUJWF JOИOJUFPS/B/ JOXIJDIDBTFUIFOFXWBMVFNVTUCFJHOPSFE

    /B;>IQM;L?IHFS>L;QHC@ UIFPQBDJUZDPNQPOFOUPGUIFBMQIBDPNQPOFOUPGUIFDPMPSPG TIBEPX$PMPS Q JTOPO


    [FSPBOEFJUIFSUIF TIBEPX#MVS Q JTOPO[FSP PSUIF TIBEPX0GGTFU9 Q JTOPO[FSP PSUIF TIBEPX0GGTFU: Q JTOPO
    [FSP

    8IFOTIBEPXTBSFESBXO Q UIFZNVTUCFSFOEFSFEBTGPMMPXT

    
     -FU  CFBOJOИOJUFUSBOTQBSFOUCMBDLCJUNBQPOXIJDIUIFTPVSDFJNBHFGPSXIJDIBTIBEPXJTCFJOHDSFBUFE
    IBTCFFOSFOEFSFE

     -FU  CFBOJOИOJUFUSBOTQBSFOUCMBDLCJUNBQ XJUIBDPPSEJOBUFTQBDFBOEBOPSJHJOJEFOUJDBMUP 

     $PQZUIFBMQIBDIBOOFMPG  UP  PЗTFUCZ TIBEPX0GGTFU9 Q JOUIFQPTJUJWF G EJSFDUJPO BOE


    TIBEPX0GGTFU: Q JOUIFQPTJUJWF H EJSFDUJPO

     *G TIBEPX#MVS Q JTHSFBUFSUIBO

     *G TIBEPX#MVS Q JTMFTTUIBO MFU L CFIBMGUIFWBMVFPG TIBEPX#MVS Q PUIFSXJTF MFU L CFUIF
    TRVBSFSPPUPGNVMUJQMZJOHUIFWBMVFPG TIBEPX#MVS Q CZ

     1FSGPSNB%(BVTTJBO#MVSPO  VTJOH L BTUIFTUBOEBSEEFWJBUJPO

    6TFSBHFOUTNBZMJNJUWBMVFTPG L UPBOJNQMFNFOUBUJPOTQFDJИDNBYJNVNWBMVFUPBWPJEFYDFFEJOH
    IBSEXBSFMJNJUBUJPOTEVSJOHUIF(BVTTJBOCMVSPQFSBUJPO

     4FUUIFSFE HSFFO BOECMVFDPNQPOFOUTPGFWFSZQJYFMJO  UPUIFSFE HSFFO BOECMVFDPNQPOFOUT


    SFTQFDUJWFMZ
    PGUIFDPMPSPG TIBEPX$PMPS Q 

     .VMUJQMZUIFBMQIBDPNQPOFOUPGFWFSZQJYFMJO  CZUIFBMQIBDPNQPOFOUPGUIFDPMPSPG TIBEPX$PMPS Q 

     5IFTIBEPXJTJOUIFCJUNBQ  BOEJTSFOEFSFEBTQBSUPGUIFESBXJOHNPEFMEFTDSJCFECFMPX

    *GUIFDVSSFOUDPNQPTJUJPOPQFSBUJPOJT DPQZ Q TIBEPXTFЗFDUJWFMZXPOUSFOEFS TJODFUIFTIBQFXJMMPWFSXSJUFUIF


    TIBEPX
    

         /BFIE>LA:I>LK><M:G@E>L

    5IFSFBSFUISFFNFUIPETUIBUJNNFEJBUFMZESBXSFDUBOHMFTUPUIFCJUNBQ5IFZFBDIUBLFGPVSBSHVNFOUTUIFИSTU
    UXPHJWFUIF G BOE H DPPSEJOBUFTPGUIFUPQMFGUPGUIFSFDUBOHMF BOEUIFTFDPOEUXPHJWFUIFXJEUI F BOEIFJHIU 7 PG
    UIFSFDUBOHMF SFTQFDUJWFMZ

    5IF DVSSFOUUSBOTGPSNBUJPONBUSJY Q NVTUCFBQQMJFEUPUIFGPMMPXJOHGPVSDPPSEJOBUFT XIJDIGPSNUIFQBUIUIBUNVTU


    UIFOCFDMPTFEUPHFUUIFTQFDJИFESFDUBOHMF G H
    G F H
    G F H 7
    G H 7
    

    4IBQFTBSFQBJOUFEXJUIPVUBЗFDUJOHUIFDVSSFOUQBUI BOEBSFTVCKFDUUPUIF DMJQQJOHSFHJPO Q BOE XJUIUIF


    FYDFQUJPOPG DMFBS3FDU
    Q BMTP TIBEPXFЗFDUT Q HMPCBMBMQIB Q BOE HMPCBMDPNQPTJUJPOPQFSBUPST Q 

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    <HGM>QM >G@<M0@>O Q
    R
    P
    A
    $MFBSTBMMQJYFMTPOUIFDBOWBTJOUIFHJWFOSFDUBOHMFUPUSBOTQBSFOUCMBDL

    <HGM>QM ADGG0@>O K Q


    R
    P
    A
    1BJOUTUIFHJWFOSFDUBOHMFPOUPUIFDBOWBT VTJOHUIFDVSSFOUИMMTUZMF

    <HGM>QM NOMJF@0@>O K Q


    R
    P
    A
    1BJOUTUIFCPYUIBUPVUMJOFTUIFHJWFOSFDUBOHMFPOUPUIFDBOWBT VTJOHUIFDVSSFOUTUSPLFTUZMF

    5IF >G@<M0@>OQ R P A NFUIPENVTUDMFBSUIFQJYFMTJOUIFTQFDJИFESFDUBOHMFUIBUBMTPJOUFSTFDUUIFDVSSFOU


    DMJQQJOHSFHJPOUPBGVMMZUSBOTQBSFOUCMBDL FSBTJOHBOZQSFWJPVTJNBHF*GFJUIFSIFJHIUPSXJEUIBSF[FSP UIJTNFUIPE
    IBTOPFЗFDU

    5IF ADGG0@>OQ R P A NFUIPENVTUQBJOUUIFTQFDJИFESFDUBOHVMBSBSFBVTJOHUIF GJMM4UZMF Q *GFJUIFSIFJHIU


    PSXJEUIBSF[FSP UIJTNFUIPEIBTOPFЗFDU

    5IF NOMJF@0@>OQ R P A NFUIPENVTUTUSPLFUIFTQFDJИFESFDUBOHMFTQBUIVTJOHUIF TUSPLF4UZMF Q


    MJOF8JEUI Q MJOF+PJO Q BOE JGBQQSPQSJBUF
    NJUFS-JNJU Q BUUSJCVUFT*GCPUIIFJHIUBOEXJEUIBSF[FSP UIJT
    NFUIPEIBTOPFЗFDU TJODFUIFSFJTOPQBUIUPTUSPLF JUTBQPJOU
    *GPOMZPOFPGUIFUXPJT[FSP UIFOUIFNFUIPEXJMM
    ESBXBMJOFJOTUFBE UIFQBUIGPSUIFPVUMJOFJTKVTUBTUSBJHIUMJOFBMPOHUIFOPO[FSPEJNFOTJPO
    

         HFIE>QLA:I>LI:MAL

    5IFDPOUFYUBMXBZTIBTBDVSSFOUQBUI5IFSFJTPOMZPOFDVSSFOUQBUI JUJTOPUQBSUPGUIF ESBXJOHTUBUF Q 

    
    " J;NB IBTBMJTUPG[FSPPSNPSFTVCQBUIT&BDITVCQBUIDPOTJTUTPGBMJTUPGPOFPSNPSFQPJOUT DPOOFDUFECZTUSBJHIU
    PSDVSWFEMJOFT BOEBЙBHJOEJDBUJOHXIFUIFSUIFTVCQBUIJTDMPTFEPSOPU"DMPTFETVCQBUIJTPOFXIFSFUIFMBTUQPJOU
    PGUIFTVCQBUIJTDPOOFDUFEUPUIFИSTUQPJOUPGUIFTVCQBUICZBTUSBJHIUMJOF4VCQBUITXJUIGFXFSUIBOUXPQPJOUTBSF
    JHOPSFEXIFOQBJOUJOHUIFQBUI

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <HGM>QM =@BDI.<OC K 
    3FTFUTUIFDVSSFOUQBUI

    <HGM>QM HJQ@2J K Q


    R
    $SFBUFTBOFXTVCQBUIXJUIUIFHJWFOQPJOU

    <HGM>QM >GJN@.<OC K 


    .BSLTUIFDVSSFOUTVCQBUIBTDMPTFE BOETUBSUTBOFXTVCQBUIXJUIBQPJOUUIFTBNFBTUIFTUBSUBOEFOE
    PGUIFOFXMZDMPTFETVCQBUI

    <HGM>QM GDI@2J K Q


    R
    "EETUIFHJWFOQPJOUUPUIFDVSSFOUTVCQBUI DPOOFDUFEUPUIFQSFWJPVTPOFCZBTUSBJHIUMJOF

    <HGM>QM LP<?M<OD>!PMQ@2J K <IQ


    <IR
    Q
    R
    "EETUIFHJWFOQPJOUUPUIFDVSSFOUQBUI DPOOFDUFEUPUIFQSFWJPVTPOFCZBRVBESBUJD#§[JFSDVSWFXJUI
    UIFHJWFODPOUSPMQPJOU

    <HGM>QM =@UD@M!PMQ@2J K <IQ


    <IR
    <IQ
    <IR
    Q
    R
    "EETUIFHJWFOQPJOUUPUIFDVSSFOUQBUI DPOOFDUFEUPUIFQSFWJPVTPOFCZBDVCJD#§[JFSDVSWFXJUIUIF
    HJWFODPOUSPMQPJOUT

    <HGM>QM <M>2J K Q


    R
    Q
    R
    K:=BNL
    "EETBQPJOUUPUIFDVSSFOUQBUI DPOOFDUFEUPUIFQSFWJPVTPOFCZBTUSBJHIUMJOF UIFOBEETBTFDPOE
    QPJOUUPUIFDVSSFOUQBUI DPOOFDUFEUPUIFQSFWJPVTPOFCZBOBSDXIPTFQSPQFSUJFTBSFEFTDSJCFECZUIF
    BSHVNFOUT
    5ISPXTBO */%&9@4*;&@&33 Q FYDFQUJPOJGUIFHJWFOSBEJVTJTOFHBUJWF

    <HGM>QM <M> K Q


    R
    K:=BNL
    LM:KMG@E>
    >G=G@E>
    :GMB<EH<DPBL>
    "EETQPJOUTUPUIFTVCQBUITVDIUIBUUIFBSDEFTDSJCFECZUIFDJSDVNGFSFODFPGUIFDJSDMFEFTDSJCFECZUIF
    BSHVNFOUT TUBSUJOHBUUIFHJWFOTUBSUBOHMFBOEFOEJOHBUUIFHJWFOFOEBOHMF HPJOHJOUIFHJWFO
    EJSFDUJPO JTBEEFEUPUIFQBUI DPOOFDUFEUPUIFQSFWJPVTQPJOUCZBTUSBJHIUMJOF
    5ISPXTBO */%&9@4*;&@&33 Q FYDFQUJPOJGUIFHJWFOSBEJVTJTOFHBUJWF

    <HGM>QM M@>O K Q


    R
    P
    A
    "EETBOFXDMPTFETVCQBUIUPUIFQBUI SFQSFTFOUJOHUIFHJWFOSFDUBOHMF

    <HGM>QM ADGG K 


    'JMMTUIFTVCQBUITXJUIUIFDVSSFOUИMMTUZMF

    <HGM>QM NOMJF@ K 


    4USPLFTUIFTVCQBUITXJUIUIFDVSSFOUTUSPLFTUZMF

    <HGM>QM >GDK K 


    'VSUIFSDPOTUSBJOTUIFDMJQQJOHSFHJPOUPUIFHJWFOQBUI

    <HGM>QM DN.JDIO'I.<OC K Q


    R
    3FUVSOTUSVFJGUIFHJWFOQPJOUJTJOUIFDVSSFOUQBUI

    *OJUJBMMZ UIFDPOUFYUTQBUINVTUIBWF[FSPTVCQBUIT

    5IFQPJOUTBOEMJOFTBEEFEUPUIFQBUICZUIFTFNFUIPETNVTUCFUSBOTGPSNFEBDDPSEJOHUPUIF DVSSFOUUSBOTGPSNBUJPO
    NBUSJY Q BTUIFZBSFBEEFE

    5IF =@BDI.<OC NFUIPENVTUFNQUZUIFMJTUPGTVCQBUITTPUIBUUIFDPOUFYUPODFBHBJOIBT[FSPTVCQBUIT

    
    5IF HJQ@2JQ R NFUIPENVTUDSFBUFBOFXTVCQBUIXJUIUIFTQFDJИFEQPJOUBTJUTИSTU BOEPOMZ
    QPJOU

    8IFOUIFVTFSBHFOUJTUP ?HMOL?NB?L?CM;MO<J;NB GPSBDPPSEJOBUF G H


    UIFVTFSBHFOUNVTUDIFDLUPTFFJGUIF
    DPOUFYUIBTBOZTVCQBUIT BOEJGJUEPFTOPU UIFOUIFVTFSBHFOUNVTUDSFBUFBOFXTVCQBUIXJUIUIFQPJOU G H
    BTJUT
    ИSTU BOEPOMZ
    QPJOU BTJGUIF NPWF5P
    Q NFUIPEIBECFFODBMMFE

    5IF >GJN@.<OC NFUIPENVTUEPOPUIJOHJGUIFDPOUFYUIBTOPTVCQBUIT0UIFSXJTF JUNVTUNBSLUIFMBTUTVCQBUIBT


    DMPTFE DSFBUFBOFXTVCQBUIXIPTFИSTUQPJOUJTUIFTBNFBTUIFQSFWJPVTTVCQBUITИSTUQPJOU BOEИOBMMZBEEUIJT
    OFXTVCQBUIUPUIFQBUI

    *HM> %?MA>E:LMLN;I:MAA:=FHK>MA:GHG>IHBGMBGBMLEBLMH?IHBGML MA>GMABLBL>JNBO:E>GMMH


    :==BG@:LMK:B@AMEBG><HGG><MBG@MA>E:LMIHBGM;:<DMHMA>[KLMIHBGM MANL<EHLBG@MA>LA:I>
    :G=MA>GK>I>:MBG@MA>E:LMIHLLB;ERBFIEB>= FHO>2H I <:EE

    /FXQPJOUTBOEUIFMJOFTDPOOFDUJOHUIFNBSFBEEFEUPTVCQBUITVTJOHUIFNFUIPETEFTDSJCFECFMPX*OBMMDBTFT UIF
    NFUIPETPOMZNPEJGZUIFMBTUTVCQBUIJOUIFDPOUFYUTQBUIT

    5IF GDI@2JQ R NFUIPENVTU FOTVSFUIFSFJTBTVCQBUI Q GPS G H


    JGUIFDPOUFYUIBTOPTVCQBUIT0UIFSXJTF JU
    NVTUDPOOFDUUIFMBTUQPJOUJOUIFTVCQBUIUPUIFHJWFOQPJOU G H
    VTJOHBTUSBJHIUMJOF BOENVTUUIFOBEEUIFHJWFO
    QPJOU G H
    UPUIFTVCQBUI

    5IF LP<?M<OD>!PMQ@2J<IQ <IR Q R NFUIPENVTU FOTVSFUIFSFJTBTVCQBUI Q GPS 2?G 2?H


    BOEUIFONVTU
    DPOOFDUUIFMBTUQPJOUJOUIFTVCQBUIUPUIFHJWFOQPJOU G H
    VTJOHBRVBESBUJD#§[JFSDVSWFXJUIDPOUSPMQPJOU 2?G
    2?H
    BOENVTUUIFOBEEUIFHJWFOQPJOU G H
    UPUIFTVCQBUI <#&;*&3> Q

    5IF =@UD@M!PMQ@2J<IQ <IR <IQ <IR Q R NFUIPENVTU FOTVSFUIFSFJTBTVCQBUI Q GPS 2? G 2? H



    BOEUIFONVTUDPOOFDUUIFMBTUQPJOUJOUIFTVCQBUIUPUIFHJWFOQPJOU G H
    VTJOHBDVCJD#§[JFSDVSWFXJUIDPOUSPM
    QPJOUT 2? G 2? H
    BOE 2? G 2? H
    5IFO JUNVTUBEEUIFQPJOU G H
    UPUIFTVCQBUI <#&;*&3> Q

    5IF <M>2JQ R Q R K:=BNL NFUIPENVTUИSTU FOTVSFUIFSFJTBTVCQBUI Q GPS G H


    5IFO UIFCFIBWJPS
    EFQFOETPOUIFBSHVNFOUTBOEUIFMBTUQPJOUJOUIFTVCQBUI BTEFTDSJCFECFMPX

    /FHBUJWFWBMVFTGPS A038DB NVTUDBVTFUIFJNQMFNFOUBUJPOUPSBJTFBO */%&9@4*;&@&33 Q FYDFQUJPO

    -FUUIFQPJOU G H
    CFUIFMBTUQPJOUJOUIFTVCQBUI

    *GUIFQPJOU G H
    JTFRVBMUPUIFQPJOU G H
    PSJGUIFQPJOU G H
    JTFRVBMUPUIFQPJOU G H
    PSJGUIFSBEJVT
    A038DB JT[FSP UIFOUIFNFUIPENVTUBEEUIFQPJOU G H
    UPUIFTVCQBUI BOEDPOOFDUUIBUQPJOUUPUIFQSFWJPVT
    QPJOU G H
    CZBTUSBJHIUMJOF

    0UIFSXJTF JGUIFQPJOUT G H
     G H
    BOE G H
    BMMMJFPOBTJOHMFTUSBJHIUMJOF UIFOUIFNFUIPENVTUBEEUIF
    QPJOU G H
    UPUIFTVCQBUI BOEDPOOFDUUIBUQPJOUUPUIFQSFWJPVTQPJOU G H
    CZBTUSBJHIUMJOF

    0UIFSXJTF MFU *74A2 CFUIFTIPSUFTUBSDHJWFOCZDJSDVNGFSFODFPGUIFDJSDMFUIBUIBTSBEJVT A038DB BOEUIBUIBTPOF


    QPJOUUBOHFOUUPUIFIBMGJOИOJUFMJOFUIBUDSPTTFTUIFQPJOU G H
    BOEFOETBUUIFQPJOU G H
    BOEUIBUIBTB
    EJЗFSFOUQPJOUUBOHFOUUPUIFIBMGJOИOJUFMJOFUIBUFOETBUUIFQPJOU G H
    BOEDSPTTFTUIFQPJOU G H
    5IFQPJOUT
    BUXIJDIUIJTDJSDMFUPVDIFTUIFTFUXPMJOFTBSFDBMMFEUIFTUBSUBOEFOEUBOHFOUQPJOUTSFTQFDUJWFMZ5IFNFUIPENVTU
    DPOOFDUUIFQPJOU G H
    UPUIFTUBSUUBOHFOUQPJOUCZBTUSBJHIUMJOF BEEJOHUIFTUBSUUBOHFOUQPJOUUPUIFTVCQBUI
    BOEUIFONVTUDPOOFDUUIFTUBSUUBOHFOUQPJOUUPUIFFOEUBOHFOUQPJOUCZ *74A2 BEEJOHUIFFOEUBOHFOUQPJOUUP
    UIFTVCQBUI

    5IF <M>Q R K:=BNL LM:KM G@E> >G= G@E> :GMB<EH<DPBL> NFUIPEESBXTBOBSD*GUIFDPOUFYUIBTBOZ


    TVCQBUIT UIFOUIFNFUIPENVTUBEEBTUSBJHIUMJOFGSPNUIFMBTUQPJOUJOUIFTVCQBUIUPUIFTUBSUQPJOUPGUIFBSD*O
    BOZDBTF JUNVTUESBXUIFBSDCFUXFFOUIFTUBSUQPJOUPGUIFBSDBOEUIFFOEQPJOUPGUIFBSD BOEBEEUIFTUBSUBOE
    FOEQPJOUTPGUIFBSDUPUIFTVCQBUI5IFBSDBOEJUTTUBSUBOEFOEQPJOUTBSFEFИOFEBTGPMMPXT

    $POTJEFSBDJSDMFUIBUIBTJUTPSJHJOBU G H
    BOEUIBUIBTSBEJVT A038DB5IFQPJOUTBU BC0AC=6;4 BOE 4=3=6;4 BMPOH
    UIJTDJSDMFTDJSDVNGFSFODF NFBTVSFEJOSBEJBOTDMPDLXJTFGSPNUIFQPTJUJWFYBYJT BSFUIFTUBSUBOEFOEQPJOUT
    SFTQFDUJWFMZ

    *GUIF 0=C82;>2:F8B4 BSHVNFOUJTGBMTFBOE 4=3=6;4BC0AC=6;4 JTFRVBMUPPSHSFBUFSUIBO Ū PS JGUIF 0=C82;>2:F8B4


    BSHVNFOUJT CAD4 BOE BC0AC=6;44=3=6;4 JTFRVBMUPPSHSFBUFSUIBO Ū UIFOUIFBSDJTUIFXIPMFDJSDVNGFSFODFPG
    UIJTDJSDMF

    0UIFSXJTF UIFBSDJTUIFQBUIBMPOHUIFDJSDVNGFSFODFPGUIJTDJSDMFGSPNUIFTUBSUQPJOUUPUIFFOEQPJOU HPJOHBOUJ


    DMPDLXJTFJGUIF 0=C82;>2:F8B4 BSHVNFOUJTUSVF BOEDMPDLXJTFPUIFSXJTF4JODFUIFQPJOUTBSFPOUIFDJSDMF BTPQQPTFE

    
    UPCFJOHTJNQMZBOHMFTGSPN[FSP UIFBSDDBOOFWFSDPWFSBOBOHMFHSFBUFSUIBO Ū SBEJBOT*GUIFUXPQPJOUTBSFUIF
    TBNF PSJGUIFSBEJVTJT[FSP UIFOUIFBSDJTEFИOFEBTCFJOHPG[FSPMFOHUIJOCPUIEJSFDUJPOT

    /FHBUJWFWBMVFTGPS A038DB NVTUDBVTFUIFJNQMFNFOUBUJPOUPSBJTFBO */%&9@4*;&@&33 Q FYDFQUJPO

    5IF M@>OQ R P A NFUIPENVTUDSFBUFBOFXTVCQBUIDPOUBJOJOHKVTUUIFGPVSQPJOUT G H


     G F H
     G F H 7

    G H 7
    XJUIUIPTFGPVSQPJOUTDPOOFDUFECZTUSBJHIUMJOFT BOENVTUUIFONBSLUIFTVCQBUIBTDMPTFE*UNVTUUIFO
    DSFBUFBOFXTVCQBUIXJUIUIFQPJOU G H
    BTUIFPOMZQPJOUJOUIFTVCQBUI

    5IF ADGG NFUIPENVTUИMMBMMUIFTVCQBUITPGUIFDVSSFOUQBUI VTJOH GJMM4UZMF Q BOEVTJOHUIFOPO[FSPXJOEJOH


    OVNCFSSVMF0QFOTVCQBUITNVTUCFJNQMJDJUMZDMPTFEXIFOCFJOHИMMFE XJUIPVUBЗFDUJOHUIFBDUVBMTVCQBUIT
    

    *HM> 0ANL B?MPHHO>KE:IIBG@;NMHMA>KPBL>BG=>I>G=>GMLN;I:MALA:O>HIIHLBM>PBG=BG@L MA>R


    <:G<>EHNM:G=K>LNEMBGGH[EE %?MA>RA:O>MA>L:F>PBG=BG@ MA:M:K>:CNLM@>MLI:BGM>=HG<>

    5IF NOMJF@ NFUIPENVTUDBMDVMBUFUIFTUSPLFTPGBMMUIFTVCQBUITPGUIFDVSSFOUQBUI VTJOHUIF MJOF8JEUI Q


    MJOF$BQ Q MJOF+PJO Q BOE JGBQQSPQSJBUF
    NJUFS-JNJU Q BUUSJCVUFT BOEUIFOИMMUIFDPNCJOFETUSPLFBSFBVTJOH
    UIF TUSPLF4UZMF Q BUUSJCVUF

    *HM> /BG<>MA>LN;I:MAL:K>:EELMKHD>=:LHG> HO>KE:IIBG@I:KMLH?MA>I:MALBGHG>LMKHD>


    HI>K:MBHG:K>MK>:M>=:LB?MA>BKNGBHGP:LPA:MP:LI:BGM>=

    1BUIT XIFOИMMFEPSTUSPLFE NVTUCFQBJOUFEXJUIPVUBЗFDUJOHUIFDVSSFOUQBUI BOENVTUCFTVCKFDUUP TIBEPX


    FЗFDUT Q HMPCBMBMQIB Q UIF DMJQQJOHSFHJPO Q BOE HMPCBMDPNQPTJUJPOPQFSBUPST Q  5SBOTGPSNBUJPOTBЗFDUUIF
    QBUIXIFOUIFQBUIJTDSFBUFE OPUXIFOJUJTQBJOUFE UIPVHIUIFTUSPLF BCH;4 JTTUJMMBЗFDUFECZUIFUSBOTGPSNBUJPO
    EVSJOHQBJOUJOH

    ;FSPMFOHUIMJOFTFHNFOUTNVTUCFQSVOFECFGPSFTUSPLJOHBQBUI&NQUZTVCQBUITNVTUCFJHOPSFE

    5IF >GDK NFUIPENVTUDSFBUFBOFX =FCJJCHAL?ACIH CZDBMDVMBUJOHUIFJOUFSTFDUJPOPGUIFDVSSFOUDMJQQJOHSFHJPO


    BOEUIFBSFBEFTDSJCFECZUIFDVSSFOUQBUI VTJOHUIFOPO[FSPXJOEJOHOVNCFSSVMF0QFOTVCQBUITNVTUCFJNQMJDJUMZ
    DMPTFEXIFODPNQVUJOHUIFDMJQQJOHSFHJPO XJUIPVUBЗFDUJOHUIFBDUVBMTVCQBUIT5IFOFXDMJQQJOHSFHJPOSFQMBDFT
    UIFDVSSFOUDMJQQJOHSFHJPO

    8IFOUIFDPOUFYUJTJOJUJBMJ[FE UIFDMJQQJOHSFHJPONVTUCFTFUUPUIFSFDUBOHMFXJUIUIFUPQMFGUDPSOFSBU  
    BOEUIF
    XJEUIBOEIFJHIUPGUIFDPPSEJOBUFTQBDF

    5IF DN.JDIO'I.<OCQ R NFUIPENVTUSFUVSOUSVFJGUIFQPJOUHJWFOCZUIF G BOE H DPPSEJOBUFTQBTTFEUPUIF


    NFUIPE XIFOUSFBUFEBTDPPSEJOBUFTJOUIFDBOWBTDPPSEJOBUFTQBDFVOBЗFDUFECZUIFDVSSFOUUSBOTGPSNBUJPO JT
    JOTJEFUIFDVSSFOUQBUIBTEFUFSNJOFECZUIFOPO[FSPXJOEJOHOVNCFSSVMFBOENVTUSFUVSOGBMTFPUIFSXJTF1PJOUTPO
    UIFQBUIJUTFMGBSFDPOTJEFSFEUPCFJOTJEFUIFQBUI*GFJUIFSPGUIFBSHVNFOUTJTJOИOJUFPS/B/ UIFOUIFNFUIPENVTU
    SFUVSOGBMTF

         "H<NLF:G:@>F>GM

    8IFOBDBOWBTJTJOUFSBDUJWF BVUIPSTTIPVMEJODMVEFGPDVTBCMFFMFNFOUTJOUIFFMFNFOUTGBMMCBDLDPOUFOU
    DPSSFTQPOEJOHUPFBDIGPDVTBCMFQBSUPGUIFDBOWBT

    5PJOEJDBUFXIJDIGPDVTBCMFQBSUPGUIFDBOWBTJTDVSSFOUMZGPDVTFE BVUIPSTTIPVMEVTFUIF ESBX'PDVT3JOH


    Q
    NFUIPE QBTTJOHJUUIFFMFNFOUGPSXIJDIBSJOHJTCFJOHESBXO5IJTNFUIPEPOMZESBXTUIFGPDVTSJOHJGUIFFMFNFOUJT
    GPDVTFE TPUIBUJUDBOTJNQMZCFDBMMFEXIFOFWFSESBXJOHUIFFMFNFOU XJUIPVUDIFDLJOHXIFUIFSUIFFMFNFOUJT
    GPDVTFEPSOPUИSTU5IFQPTJUJPOPGUIFDFOUFSPGUIFDPOUSPM PSPGUIFFEJUJOHDBSFUJGUIFDPOUSPMIBTPOF TIPVMECF
    HJWFOJOUIF G BOE H BSHVNFOUT

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    LAHNE= K:P  <HGM>QM ?M<R$J>PN0DIB K >E>F>GM
    Q
    R
    7 <:G K:PNLMHF 8
    *GUIFHJWFOFMFNFOUJTGPDVTFE ESBXTBGPDVTSJOHBSPVOEUIFDVSSFOUQBUI GPMMPXJOHUIFQMBUGPSN
    DPOWFOUJPOTGPSGPDVTSJOHT5IFHJWFODPPSEJOBUFJTVTFEJGUIFVTFSTBUUFOUJPOOFFETUPCFCSPVHIUUPB
    QBSUJDVMBSQPTJUJPO FHJGBNBHOJИFSJTGPMMPXJOHUIFFEJUJOHDBSFUJOBUFYUИFME
    
    *GUIF 20=A0FDBC>< BSHVNFOUJTUSVF UIFOUIFGPDVTSJOHJTPOMZESBXOJGUIFVTFSIBTDPOИHVSFEIJT
    TZTUFNUPESBXGPDVTSJOHTJOBQBSUJDVMBSNBOOFS 'PSFYBNQMF IJHIDPOUSBTUGPDVTSJOHT

    
    3FUVSOTUSVFJGUIFHJWFOFMFNFOUJTGPDVTFE UIF 20=A0FDBC>< BSHVNFOUJTUSVF BOEUIFVTFSIBTOPU
    DPOИHVSFEIJTTZTUFNUPESBXGPDVTSJOHTJOBQBSUJDVMBSNBOOFS0UIFSXJTF SFUVSOTGBMTF
    8IFOUIFNFUIPESFUVSOTUSVF UIFBVUIPSJTFYQFDUFEUPNBOVBMMZESBXBGPDVTSJOH

    5IF ?M<R$J>PN0DIB>E>F>GM Q R 9<:G#K:P"NLMHF: NFUIPE XIFOJOWPLFE NVTUSVOUIFGPMMPXJOHTUFQT

     *G 4;4<4=C JTOPUGPDVTFEPSJTOPUBEFTDFOEBOUPGUIFFMFNFOUXJUIXIPTFDPOUFYUUIFNFUIPEJTBTTPDJBUFE
    UIFOSFUVSOGBMTFBOEBCPSUUIFTFTUFQT

     5SBOTGPSNUIFHJWFOQPJOU G H
    BDDPSEJOHUPUIF DVSSFOUUSBOTGPSNBUJPONBUSJY Q 

     0QUJPOBMMZ JOGPSNUIFVTFSUIBUUIFGPDVTJTBUUIFHJWFO USBOTGPSNFE


    DPPSEJOBUFPOUIFDBOWBT 'PS
    FYBNQMF UIJTDPVMEJOWPMWFNPWJOHUIFVTFSTNBHOJИDBUJPOUPPM

     *GUIFVTFSIBTSFRVFTUFEUIFVTFPGQBSUJDVMBSGPDVTSJOHT FHIJHIDPOUSBTUGPDVTSJOHT
    PSJGUIF
    20=A0FDBC>< BSHVNFOUJTBCTFOUPSGBMTF UIFOESBXBGPDVTSJOHPGUIFBQQSPQSJBUFTUZMFBMPOHUIFQBUI
    GPMMPXJOHQMBUGPSNDPOWFOUJPOT SFUVSOGBMTF BOEBCPSUUIFTFTUFQT

    5IFGPDVTSJOHTIPVMEOPUCFTVCKFDUUPUIF TIBEPXFЗFDUT Q UIF HMPCBMBMQIB Q PSUIF HMPCBMDPNQPTJUJPO


    PQFSBUPST Q CVU B7>D;3 CFTVCKFDUUPUIF DMJQQJOHSFHJPO Q 

     3FUVSOUSVF

    5IJT DBOWBT Q FMFNFOUIBTBDPVQMFPGDIFDLCPYFT

    DBOWBTIFJHIUXJEUI
    MBCFMJOQVUUZQFDIFDLCPYJETIPX"4IPX"TMBCFM
    MBCFMJOQVUUZQFDIFDLCPYJETIPX#4IPX#TMBCFM
    
    DBOWBT
    TDSJQU
    GVODUJPOESBX$IFDLCPY DPOUFYU FMFNFOU Y Z
    \
    DPOUFYUTBWF
    
    DPOUFYUGPOUQYTBOTTFSJG
    DPOUFYUUFYU"MJHOMFGU
    DPOUFYUUFYU#BTFMJOFNJEEMF
    WBSNFUSJDTDPOUFYUNFBTVSF5FYU FMFNFOUMBCFMT<>UFYU$POUFOU
    
    DPOUFYUCFHJO1BUI
    
    DPOUFYUTUSPLF4UZMFCMBDL
    DPOUFYUSFDU Y Z  
    
    DPOUFYUTUSPLF
    
    JG FMFNFOUDIFDLFE
    \
    DPOUFYUGJMM4UZMFCMBDL
    DPOUFYUGJMM
    
    ^
    DPOUFYUGJMM5FYU FMFNFOUMBCFMT<>UFYU$POUFOU Y  Z
    
    DPOUFYUCFHJO1BUI
    
    DPOUFYUSFDU Y Z  NFUSJDTXJEUI  
    
    JG DPOUFYUESBX'PDVT3JOH FMFNFOU Y Z USVF

    \
    DPOUFYUTUSPLF4UZMFTJMWFS
    DPOUFYUTUSPLF
    
    ^
    DPOUFYUSFTUPSF
    
    ^
    GVODUJPOESBX#BTF
    \  ^
    GVODUJPOESBX"T
    \  ^
    GVODUJPOESBX#T
    \  ^
    GVODUJPOSFESBX
    \
    WBSDBOWBTEPDVNFOUHFU&MFNFOUT#Z5BH/BNF DBOWBT
    <>
    WBSDPOUFYUDBOWBTHFU$POUFYU E
    
    DPOUFYUDMFBS3FDU   DBOWBTXJEUI DBOWBTIFJHIU
    
    ESBX$IFDLCPY DPOUFYU EPDVNFOUHFU&MFNFOU#Z*E TIPX"
     
    
    ESBX$IFDLCPY DPOUFYU EPDVNFOUHFU&MFNFOU#Z*E TIPX#
     
    
    ESBX#BTF
    
    JG EPDVNFOUHFU&MFNFOU#Z*E TIPX"
    DIFDLFE

    
    ESBX"T
    
    JG EPDVNFOUHFU&MFNFOU#Z*E TIPX#
    DIFDLFE

    ESBX#T
    
    ^
    GVODUJPOQSPDFTT$MJDL FWFOU
    \
    WBSDBOWBTEPDVNFOUHFU&MFNFOUT#Z5BH/BNF DBOWBT
    <>
    WBSDPOUFYUDBOWBTHFU$POUFYU E
    
    WBSYFWFOUDMJFOU9DBOWBTPGGTFU-FGU
    WBSZFWFOUDMJFOU:DBOWBTPGGTFU5PQ
    ESBX$IFDLCPY DPOUFYU EPDVNFOUHFU&MFNFOU#Z*E TIPX"
     
    
    JG DPOUFYUJT1PJOU*O1BUI Y Z

    EPDVNFOUHFU&MFNFOU#Z*E TIPX"
    DIFDLFE
     EPDVNFOUHFU&MFNFOU#Z*E TIPX"
    DIFDLFE
    
    ESBX$IFDLCPY DPOUFYU EPDVNFOUHFU&MFNFOU#Z*E TIPX#
     
    
    JG DPOUFYUJT1PJOU*O1BUI Y Z

    EPDVNFOUHFU&MFNFOU#Z*E TIPX#
    DIFDLFE
     EPDVNFOUHFU&MFNFOU#Z*E TIPX#
    DIFDLFE
    
    SFESBX
    
    ^
    EPDVNFOUHFU&MFNFOUT#Z5BH/BNF DBOWBT
    <>BEE&WFOU-JTUFOFS GPDVT SFESBX USVF
    
    EPDVNFOUHFU&MFNFOUT#Z5BH/BNF DBOWBT
    <>BEE&WFOU-JTUFOFS CMVS SFESBX USVF
    
    EPDVNFOUHFU&MFNFOUT#Z5BH/BNF DBOWBT
    <>BEE&WFOU-JTUFOFS DIBOHF SFESBX USVF
    
    EPDVNFOUHFU&MFNFOUT#Z5BH/BNF DBOWBT
    <>BEE&WFOU-JTUFOFS DMJDL QSPDFTT$MJDL
    GBMTF
    
    SFESBX
    
    TDSJQU

         0>QM

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <HGM>QM AJIO K 7 O:EN> 8
    3FUVSOTUIFDVSSFOUGPOUTFUUJOHT
    $BOCFTFU UPDIBOHFUIFGPOU5IFTZOUBYJTUIFTBNFBTGPSUIF$44GPOUQSPQFSUZWBMVFTUIBUDBOOPU
    CFQBSTFEBT$44GPOUWBMVFTBSFJHOPSFE
    3FMBUJWFLFZXPSETBOEMFOHUITBSFDPNQVUFESFMBUJWFUPUIFGPOUPGUIF DBOWBT Q FMFNFOU

    <HGM>QM O@SOGDBI K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUUFYUBMJHONFOUTFUUJOHT
    $BOCFTFU UPDIBOHFUIFBMJHONFOU5IFQPTTJCMFWBMVFTBSF TUBSU FOE MFGU SJHIU BOE DFOUFS0UIFS
    WBMVFTBSFJHOPSFE5IFEFGBVMUJT TUBSU

    <HGM>QM O@SO <N@GDI@ K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUCBTFMJOFBMJHONFOUTFUUJOHT
    $BOCFTFU UPDIBOHFUIFCBTFMJOFBMJHONFOU5IFQPTTJCMFWBMVFTBOEUIFJSNFBOJOHTBSFHJWFOCFMPX
    0UIFSWBMVFTBSFJHOPSFE5IFEFGBVMUJT BMQIBCFUJD

    <HGM>QM ADGG2@SO K M>QM


    Q
    R 7
    F:Q3B=MA 8
    <HGM>QM NOMJF@2@SO K M>QM
    Q
    R 7
    F:Q3B=MA 8
    'JMMTPSTUSPLFT SFTQFDUJWFMZ
    UIFHJWFOUFYUBUUIFHJWFOQPTJUJPO*GBNBYJNVNXJEUIJTQSPWJEFE UIFUFYU
    XJMMCFTDBMFEUPИUUIBUXJEUIJGOFDFTTBSZ

    F>MKB<L  <HGM>QM H@<NPM@2@SO K M>QM


    3FUVSOTB 5FYU.FUSJDT Q PCKFDUXJUIUIFNFUSJDTPGUIFHJWFOUFYUJOUIFDVSSFOUGPOU

    F>MKB<L RD?OC K


    3FUVSOTUIFBEWBODFXJEUIPGUIFUFYUUIBUXBTQBTTFEUPUIF NFBTVSF5FYU
    Q NFUIPE

    5IF AJIO *%-BUUSJCVUF POTFUUJOH NVTUCFQBSTFEUIFTBNFXBZBTUIFGPOUQSPQFSUZPG$44 CVUXJUIPVUTVQQPSUJOH


    QSPQFSUZJOEFQFOEFOUTUZMFTIFFUTZOUBYMJLFJOIFSJU
    BOEUIFSFTVMUJOHGPOUNVTUCFBTTJHOFEUPUIFDPOUFYU XJUIUIF

    
    MJOFIFJHIUDPNQPOFOUGPSDFEUPOPSNBM XJUIUIFGPOUTJ[FDPNQPOFOUDPOWFSUFEUP$44QJYFMT BOEXJUITZTUFN
    GPOUTCFJOHDPNQVUFEUPFYQMJDJUWBMVFT*GUIFOFXWBMVFJTTZOUBDUJDBMMZJODPSSFDU JODMVEJOHVTJOHQSPQFSUZ
    JOEFQFOEFOUTUZMFTIFFUTZOUBYMJLFJOIFSJUPSJOJUJBM
    UIFOJUNVTUCFJHOPSFE XJUIPVUBTTJHOJOHBOFXGPOUWBMVF
    <$44> Q

    'POUOBNFTNVTUCFJOUFSQSFUFEJOUIFDPOUFYUPGUIF DBOWBT Q FMFNFOUTTUZMFTIFFUTBOZGPOUTFNCFEEFEVTJOH


    !GPOUGBDF NVTUUIFSFGPSFCFBWBJMBCMFPODFUIFZBSFMPBEFE *GBGPOUJTSFGFSFODFECFGPSFJUJTGVMMZMPBEFE UIFOJU
    NVTUCFUSFBUFEBTJGJUXBTBOVOLOPXOGPOU GBMMJOHCBDLUPBOPUIFSBTEFTDSJCFECZUIFSFMFWBOU$44TQFDJИDBUJPOT

    <$44'0/54> Q

    0OMZWFDUPSGPOUTTIPVMECFVTFECZUIFVTFSBHFOUJGBVTFSBHFOUXFSFUPVTFCJUNBQGPOUTUIFOUSBOTGPSNBUJPOT
    XPVMEMJLFMZNBLFUIFGPOUMPPLWFSZVHMZ

    0OHFUUJOH UIF GPOU Q BUUSJCVUFNVTUSFUVSOUIF TFSJBMJ[FEGPSN PGUIFDVSSFOUGPOUPGUIFDPOUFYU XJUIOPMJOF


    IFJHIUDPNQPOFOU
     <$440.> Q

    'PSFYBNQMF BGUFSUIFGPMMPXJOHTUBUFNFOU

    DPOUFYUGPOUJUBMJDQY6OLOPXO'POU TBOTTFSJG

    UIFFYQSFTTJPO DPOUFYUGPOU XPVMEFWBMVBUFUPUIFTUSJOHJUBMJD QY 6OLOPXO 'POU TBOTTFSJG


    5IFGPOUXFJHIUEPFTOUBQQFBSCFDBVTFUIBUJTUIFEFGBVMUWBMVF5IFMJOFIFJHIUEPFTOUBQQFBSCFDBVTF
    JUJTGPSDFEUPOPSNBM UIFEFGBVMUWBMVF

    8IFOUIFDPOUFYUJTDSFBUFE UIFGPOUPGUIFDPOUFYUNVTUCFTFUUPQYTBOTTFSJG8IFOUIFGPOUTJ[FDPNQPOFOUJT
    TFUUPMFOHUITVTJOHQFSDFOUBHFT FNPSFYVOJUT PSUIFMBSHFSPSTNBMMFSLFZXPSET UIFTFNVTUCFJOUFSQSFUFE
    SFMBUJWFUPUIFDPNQVUFEWBMVFPGUIFGPOUTJ[FQSPQFSUZPGUIFDPSSFTQPOEJOH DBOWBT Q FMFNFOUBUUIFUJNFUIBUUIF
    BUUSJCVUFJTTFU8IFOUIFGPOUXFJHIUDPNQPOFOUJTTFUUPUIFSFMBUJWFWBMVFTCPMEFSBOEMJHIUFS UIFTFNVTUCF
    JOUFSQSFUFESFMBUJWFUPUIFDPNQVUFEWBMVFPGUIFGPOUXFJHIUQSPQFSUZPGUIFDPSSFTQPOEJOH DBOWBT Q FMFNFOUBUUIF
    UJNFUIBUUIFBUUSJCVUFJTTFU*GUIFDPNQVUFEWBMVFTBSFVOEFИOFEGPSBQBSUJDVMBSDBTF FHCFDBVTFUIF DBOWBT Q
    FMFNFOUJTOPU JOB %PDVNFOU Q
    UIFOUIFSFMBUJWFLFZXPSETNVTUCFJOUFSQSFUFESFMBUJWFUPUIFOPSNBMXFJHIUQY
    TBOTTFSJGEFGBVMU

    5IF O@SOGDBI *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFDVSSFOUWBMVF0OTFUUJOH JGUIFWBMVFJTPOFPG TUBSU FOE


    MFGU SJHIU PS DFOUFS UIFOUIFWBMVFNVTUCFDIBOHFEUPUIFOFXWBMVF0UIFSXJTF UIFOFXWBMVFNVTUCFJHOPSFE
    8IFOUIFDPOUFYUJTDSFBUFE UIF UFYU"MJHO Q BUUSJCVUFNVTUJOJUJBMMZIBWFUIFWBMVF TUBSU

    5IF O@SO <N@GDI@ *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFDVSSFOUWBMVF0OTFUUJOH JGUIFWBMVFJTPOFPG UPQ Q


    IBOHJOH Q NJEEMF Q BMQIBCFUJD Q JEFPHSBQIJD Q PS CPUUPN Q UIFOUIFWBMVFNVTUCFDIBOHFEUPUIFOFX
    WBMVF0UIFSXJTF UIFOFXWBMVFNVTUCFJHOPSFE8IFOUIFDPOUFYUJTDSFBUFE UIF UFYU#BTFMJOF Q BUUSJCVUFNVTU
    JOJUJBMMZIBWFUIFWBMVF BMQIBCFUJD

    5IF UFYU#BTFMJOF Q BUUSJCVUFTBMMPXFELFZXPSETDPSSFTQPOEUPBMJHONFOUQPJOUTJOUIFGPOU

    5IFLFZXPSETNBQUPUIFTFBMJHONFOUQPJOUTBTGPMMPXT

    MHI
    5IFUPQPGUIFFNTRVBSF

    
    A:G@BG@
    5IFIBOHJOHCBTFMJOF

    FB==E>
    5IFNJEEMFPGUIFFNTRVBSF

    :EIA:;>MB<
    5IFBMQIBCFUJDCBTFMJOF

    B=>H@K:IAB<
    5IFJEFPHSBQIJDCBTFMJOF

    ;HMMHF
    5IFCPUUPNPGUIFFNTRVBSF

    5IF ADGG2@SO BOE NOMJF@2@SO NFUIPETUBLFUISFFPSGPVSBSHVNFOUT C4GC G H BOEPQUJPOBMMZ <0G-83C7 BOE


    SFOEFSUIFHJWFO C4GC BUUIFHJWFO G H
    DPPSEJOBUFTFOTVSJOHUIBUUIFUFYUJTOUXJEFSUIBO <0G-83C7 JGTQFDJИFE
    VTJOHUIFDVSSFOU GPOU Q UFYU"MJHO Q BOE UFYU#BTFMJOF Q WBMVFT4QFDJИDBMMZ XIFOUIFNFUIPETBSFDBMMFE UIF
    VTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     -FU 5>=C CFUIFDVSSFOUGPOUPGUIFDPOUFYU BTHJWFOCZUIF GPOU Q BUUSJCVUF

     3FQMBDFBMMUIF TQBDFDIBSBDUFST Q JO C4GC XJUI6 41"$&DIBSBDUFST

     'PSNBIZQPUIFUJDBMJOИOJUFMZXJEF$44MJOFCPYDPOUBJOJOHBTJOHMFJOMJOFCPYDPOUBJOJOHUIFUFYU C4GC XJUI


    BMMUIFQSPQFSUJFTBUUIFJSJOJUJBMWBMVFTFYDFQUUIFGPOUQSPQFSUZPGUIFJOMJOFCPYTFUUP 5>=C BOEUIF
    EJSFDUJPOQSPQFSUZPGUIFJOMJOFCPYTFUUP UIFEJSFDUJPOBMJUZ Q PGUIF DBOWBT Q FMFNFOU <$44> Q

     *GUIF <0G-83C7 BSHVNFOUXBTTQFDJИFEBOEUIFIZQPUIFUJDBMXJEUIPGUIFJOMJOFCPYJOUIFIZQPUIFUJDBMMJOF


    CPYJTHSFBUFSUIBO <0G-83C7 $44QJYFMT UIFODIBOHF 5>=C UPIBWFBNPSFDPOEFOTFEGPOU JGPOFJT
    BWBJMBCMFPSJGBSFBTPOBCMZSFBEBCMFPOFDBOCFTZOUIFTJ[FECZBQQMZJOHBIPSJ[POUBMTDBMFGBDUPSUPUIF
    GPOU
    PSBTNBMMFSGPOU BOESFUVSOUPUIFQSFWJPVTTUFQ

     -FUUIF 0=27>A?>8=C CFBQPJOUPOUIFJOMJOFCPY EFUFSNJOFECZUIF UFYU"MJHO Q BOE UFYU#BTFMJOF Q


    WBMVFT BTGPMMPXT

    )PSJ[POUBMQPTJUJPO

    %@ O@SOGDBI K CM G@AO


    %@ O@SOGDBI K CM NO<MO ;H> NB?>CL?=NCIH;FCNS J I@NB? ><IQ<N K ?F?G?HNCMFNL
    %@ O@SOGDBI K CM @I? ;H> NB?>CL?=NCIH;FCNS J I@NB? ><IQ<N K ?F?G?HNCMLNF
    -FUUIF 0=27>A?>8=CTIPSJ[POUBMQPTJUJPOCFUIFMFGUFEHFPGUIFJOMJOFCPY

    %@ O@SOGDBI K CM MDBCO


    %@ O@SOGDBI K CM @I? ;H> NB?>CL?=NCIH;FCNS J I@NB? ><IQ<N K ?F?G?HNCMFNL
    %@ O@SOGDBI K CM NO<MO ;H> NB?>CL?=NCIH;FCNS J I@NB? ><IQ<N K ?F?G?HNCMLNF
    -FUUIF 0=27>A?>8=CTIPSJ[POUBMQPTJUJPOCFUIFSJHIUFEHFPGUIFJOMJOFCPY

    %@ O@SOGDBI K CM >@IO@M


    -FUUIF 0=27>A?>8=CTIPSJ[POUBMQPTJUJPOCFIBMGXBZCFUXFFOUIFMFGUBOESJHIUFEHFTPGUIFJOMJOFCPY

    7FSUJDBMQPTJUJPO

    %@ O@SO <N@GDI@ K CM OJK K


    -FUUIF 0=27>A?>8=CTWFSUJDBMQPTJUJPOCFUIFUPQPGUIFFNCPYPGUIFИSTUBWBJMBCMFGPOUPGUIFJOMJOF
    CPY

    %@ O@SO <N@GDI@ K CM C<IBDIB K


    -FUUIF 0=27>A?>8=CTWFSUJDBMQPTJUJPOCFUIFIBOHJOHCBTFMJOFPGUIFИSTUBWBJMBCMFGPOUPGUIFJOMJOF
    CPY

    %@ O@SO <N@GDI@ K CM HD??G@ K


    -FUUIF 0=27>A?>8=CTWFSUJDBMQPTJUJPOCFIBMGXBZCFUXFFOUIFCPUUPNBOEUIFUPQPGUIFFNCPYPG
    UIFИSTUBWBJMBCMFGPOUPGUIFJOMJOFCPY

    %@ O@SO <N@GDI@ K CM <GKC<=@OD> K


    -FUUIF 0=27>A?>8=CTWFSUJDBMQPTJUJPOCFUIFBMQIBCFUJDCBTFMJOFPGUIFИSTUBWBJMBCMFGPOUPGUIFJOMJOF
    CPY

    
    %@ O@SO <N@GDI@ K CM D?@JBM<KCD> K
    -FUUIF 0=27>A?>8=CTWFSUJDBMQPTJUJPOCFUIFJEFPHSBQIJDCBTFMJOFPGUIFИSTUBWBJMBCMFGPOUPGUIF
    JOMJOFCPY

    %@ O@SO <N@GDI@ K CM =JOOJH K


    -FUUIF 0=27>A?>8=CTWFSUJDBMQPTJUJPOCFUIFCPUUPNPGUIFFNCPYPGUIFИSTUBWBJMBCMFGPOUPGUIF
    JOMJOFCPY

     1BJOUUIFIZQPUIFUJDBMJOMJOFCPYBTUIFTIBQFHJWFOCZUIFUFYUTHMZQIT BTUSBOTGPSNFECZUIF DVSSFOU


    USBOTGPSNBUJPONBUSJY Q BOEBODIPSFEBOETJ[FETPUIBUCFGPSFBQQMZJOHUIF DVSSFOUUSBOTGPSNBUJPO
    NBUSJY Q UIF 0=27>A?>8=C JTBU G H
    BOEFBDI$44QJYFMJTNBQQFEUPPOFDPPSEJOBUFTQBDFVOJU

    'PS GJMM5FYU
    Q GJMM4UZMF Q NVTUCFBQQMJFEUPUIFHMZQITBOE TUSPLF4UZMF Q NVTUCFJHOPSFE'PS
    TUSPLF5FYU
    Q UIFSFWFSTFIPMETBOE TUSPLF4UZMF Q NVTUCFBQQMJFEUPUIFHMZQIPVUMJOFTBOE
    GJMM4UZMF Q NVTUCFJHOPSFE

    5FYUJTQBJOUFEXJUIPVUBЗFDUJOHUIFDVSSFOUQBUI BOEJTTVCKFDUUP TIBEPXFЗFDUT Q HMPCBMBMQIB Q UIF


    DMJQQJOHSFHJPO Q BOE HMPCBMDPNQPTJUJPOPQFSBUPST Q 

    5IF H@<NPM@2@SO NFUIPEUBLFTPOFBSHVNFOU C4GC8IFOUIFNFUIPEJTJOWPLFE UIFVTFSBHFOUNVTUSFQMBDFBMM


    UIF TQBDFDIBSBDUFST Q JO C4GC XJUI6 41"$&DIBSBDUFST BOEUIFONVTUGPSNBIZQPUIFUJDBMJOИOJUFMZXJEF$44
    MJOFCPYDPOUBJOJOHBTJOHMFJOMJOFCPYDPOUBJOJOHUIFUFYU C4GC XJUIBMMUIFQSPQFSUJFTBUUIFJSJOJUJBMWBMVFTFYDFQUUIF
    GPOUQSPQFSUZPGUIFJOMJOFFMFNFOUTFUUPUIFDVSSFOUGPOUPGUIFDPOUFYU BTHJWFOCZUIF GPOU Q BUUSJCVUF BOENVTU
    UIFOSFUVSOBOFX 5FYU.FUSJDT Q PCKFDUXJUIJUT XJEUI Q BUUSJCVUFTFUUPUIFXJEUIPGUIBUJOMJOFCPY JO$44QJYFMT
    <$44> Q

    5IF 5FYU.FUSJDT Q JOUFSGBDFJTVTFEGPSUIFPCKFDUTSFUVSOFEGSPN NFBTVSF5FYU


    Q *UIBTPOFBUUSJCVUF RD?OC
    XIJDIJTTFUCZUIF NFBTVSF5FYU
    Q NFUIPE

    *HM> #ERIALK>G=>K>=NLBG@ ?BEE2>QM I :G= LMKHD>2>QM I <:GLIBEEHNMH?MA>;HQ@BO>G;R


    MA>?HGMLBS>MA>>FLJN:K>LBS>:G=MA>PB=MAK>MNKG>=;R F>:LNK>2>QM I MA>M>QMPB=MA
    0ABLO>KLBHGH?MA>LI><B[<:MBHG=H>LGHMIKHOB=>:P:RMHH;M:BGMA>;HNG=BG@;HQ=BF>GLBHGLH?
    MA>M>QM %?MA>M>QMBLMH;>K>G=>K>=:G=K>FHO>= <:K>G>>=LMH;>M:D>GMHK>IE:<>MA>>GMBK>
    :K>:H?MA><:GO:LMA:MMA><EBIIBG@K>@BHG<HO>KL GHMCNLMMA>;HQ@BO>G;RMA>>FLJN:K>A>B@AM
    :G=F>:LNK>=M>QMPB=MA

    *HM> ?NMNK>O>KLBHGH?MA> <HGM>QM,%F:RIKHOB=>:P:RMHK>G=>K?K:@F>GMLH?


    =H<NF>GML K>G=>K>=NLBG@// LMK:B@AMMHMA><:GO:L 0ABLPHNE=;>IKHOB=>=BGIK>?>K>G<>MH:
    =>=B<:M>=P:RH?=HBG@FNEMBEBG>E:RHNM

         %F:@>L

    5PESBXJNBHFTPOUPUIFDBOWBT UIF ?M<R'H<B@ NFUIPEDBOCFVTFE

    5IJTNFUIPEDBOCFJOWPLFEXJUIUISFFEJЗFSFOUTFUTPGBSHVNFOUT

    Ǭ ESBX*NBHF "%  0 1

    Ǭ ESBX*NBHF "%  0 1 / !

    Ǭ ESBX*NBHF "%  +0 +1 +/ +! 0 1 / !

    &BDIPGUIPTFUISFFDBOUBLFFJUIFSBO )5.-*NBHF&MFNFOU Q BO )5.-$BOWBT&MFNFOU Q PSBO )5.-7JEFP&MFNFOU Q


    GPSUIF 8<064 BSHVNFOU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    <HGM>QM ?M<R'H<B@ BF:@>
    =Q
    =R
    <HGM>QM ?M<R'H<B@ K BF:@>
    =Q
    =R
    =P
    =A
    <HGM>QM ?M<R'H<B@ K BF:@>
    LQ
    LR
    LP
    LA
    =Q
    =R
    =P
    =A
    %SBXTUIFHJWFOJNBHFPOUPUIFDBOWBT5IFBSHVNFOUTBSFJOUFSQSFUFEBTGPMMPXT

    
    *GUIFИSTUBSHVNFOUJTOUBO JNH Q DBOWBT Q PS WJEFP Q FMFNFOU UISPXTB 5:1&@.*4."5$)@&33 Q
    FYDFQUJPO*GUIFJNBHFIBTOPJNBHFEBUB UISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPO*GUIFOVNFSJD
    BSHVNFOUTEPOUNBLFTFOTF FHUIFEFTUJOBUJPOJTB•SFDUBOHMF
    UISPXTBO */%&9@4*;&@&33 Q
    FYDFQUJPO*GUIFJNBHFJTOUZFUGVMMZEFDPEFE UIFOOPUIJOHJTESBXO

    *GOPUTQFDJИFE UIF 3F BOE 37 BSHVNFOUTNVTUEFGBVMUUPUIFWBMVFTPG BF BOE B7 JOUFSQSFUFETVDIUIBUPOF$44QJYFM


    JOUIFJNBHFJTUSFBUFEBTPOFVOJUJOUIFDBOWBTDPPSEJOBUFTQBDF*GUIF BG BH BF BOE B7 BSHVNFOUTBSFPNJUUFE
    UIFZNVTUEFGBVMUUP  UIFJNBHFTJOUSJOTJDXJEUIJOJNBHFQJYFMT BOEUIFJNBHFTJOUSJOTJDIFJHIUJOJNBHFQJYFMT
    SFTQFDUJWFMZ

    5IF 8<064 BSHVNFOUJTBOJOTUBODFPGFJUIFS )5.-*NBHF&MFNFOU Q )5.-$BOWBT&MFNFOU Q PS )5.-7JEFP&MFNFOU Q 
    *GUIF 8<064 JTOVMM UIFJNQMFNFOUBUJPONVTUSBJTFB 5:1&@.*4."5$)@&33 Q FYDFQUJPO

    *GUIF 8<064 BSHVNFOUJTBO )5.-*NBHF&MFNFOU Q PCKFDUXIPTF DPNQMFUF Q BUUSJCVUFJTGBMTF PSJGUIF 8<064
    BSHVNFOUJTBO )5.-7JEFP&MFNFOU Q PCKFDUXIPTF SFBEZ4UBUF Q BUUSJCVUFJTFJUIFS )"7&@/05)*/( Q PS
    )"7&@.&5"%"5" Q UIFOUIFJNQMFNFOUBUJPONVTUSFUVSOXJUIPVUESBXJOHBOZUIJOH

    *GUIF 8<064 BSHVNFOUJTBO )5.-$BOWBT&MFNFOU Q PCKFDUXJUIFJUIFSBIPSJ[POUBMEJNFOTJPOPSBWFSUJDBMEJNFOTJPO


    FRVBMUP[FSP UIFOUIFJNQMFNFOUBUJPONVTUSBJTFBO */7"-*%@45"5&@&33 Q FYDFQUJPO

    5IFTPVSDFSFDUBOHMFJTUIFSFDUBOHMFXIPTFDPSOFSTBSFUIFGPVSQPJOUT BG BH
     BG BF BH
     BG BF BH B7
     BG
    BH B7
    

    *GUIFTPVSDFSFDUBOHMFJTOPUFOUJSFMZXJUIJOUIFTPVSDFJNBHF PSJGPOFPGUIF BF PS B7 BSHVNFOUTJT[FSP UIF


    JNQMFNFOUBUJPONVTUSBJTFBO */%&9@4*;&@&33 Q FYDFQUJPO

    5IFEFTUJOBUJPOSFDUBOHMFJTUIFSFDUBOHMFXIPTFDPSOFSTBSFUIFGPVSQPJOUT 3G 3H
     3G 3F 3H
     3G 3F 3H 37

    3G 3H 37
    

    8IFO ESBX*NBHF
    Q JTJOWPLFE UIFSFHJPOPGUIFJNBHFTQFDJИFECZUIFTPVSDFSFDUBOHMFNVTUCFQBJOUFEPOUIF
    SFHJPOPGUIFDBOWBTTQFDJИFECZUIFEFTUJOBUJPOSFDUBOHMF BGUFSBQQMZJOHUIF DVSSFOUUSBOTGPSNBUJPONBUSJY Q UPUIF
    QPJOUTPGUIFEFTUJOBUJPOSFDUBOHMF

    5IFPSJHJOBMJNBHFEBUBPGUIFTPVSDFJNBHFNVTUCFVTFE OPUUIFJNBHFBTJUJTSFOEFSFE FH XJEUI Q BOE


    IFJHIU Q BUUSJCVUFTPOUIFTPVSDFFMFNFOUIBWFOPFЗFDU
    5IFJNBHFEBUBNVTUCFQSPDFTTFEJOUIFPSJHJOBM
    EJSFDUJPO FWFOJGUIFEJNFOTJPOTHJWFOBSFOFHBUJWF

    *HM> 0ABLLI><B[<:MBHG=H>LGHM=>[G>MA>:E@HKBMAFMHNL>PA>GL<:EBG@MA>BF:@> B?


    G><>LL:KR

    
    *HM> 3A>G:<:GO:LBL=K:PGHGMHBML>E? MA>=K:PBG@FH=>EK>JNBK>LMA>LHNK<>MH;><HIB>=
    ;>?HK>MA>BF:@>BL=K:PG;:<DHGMHMA><:GO:L LHBMBLIHLLB;E>MH<HIRI:KMLH?:<:GO:LHGMH
    HO>KE:IIBG@I:KMLH?BML>E?

    8IFOUIF ESBX*NBHF
    Q NFUIPEJTQBTTFEBOBOJNBUFEJNBHFBTJUT 8<064 BSHVNFOU UIFVTFSBHFOUNVTUVTFUIF
    QPTUFSGSBNFPGUIFBOJNBUJPO PS JGUIFSFJTOPQPTUFSGSBNF UIFИSTUGSBNFPGUIFBOJNBUJPO

    8IFOUIF 8<064 BSHVNFOUJTBO )5.-7JEFP&MFNFOU Q UIFOUIFGSBNFBUUIF DVSSFOUQMBZCBDLQPTJUJPO Q NVTUCF


    VTFEBTUIFTPVSDFJNBHF BOEUIFTPVSDFJNBHFTEJNFOTJPOTNVTUCFUIF JOUSJOTJDXJEUI Q BOE JOUSJOTJDIFJHIU Q PG
    UIF NFEJBSFTPVSDF Q JFBGUFSBOZBTQFDUSBUJPDPSSFDUJPOIBTCFFOBQQMJFE
    

    *NBHFTBSFQBJOUFEXJUIPVUBЗFDUJOHUIFDVSSFOUQBUI BOEBSFTVCKFDUUP TIBEPXFЗFDUT Q HMPCBMBMQIB Q UIF


    DMJQQJOHSFHJPO Q BOE HMPCBMDPNQPTJUJPOPQFSBUPST Q 

         ,BQ>EF:GBINE:MBHG

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    BF:@>=:M:  <HGM>QM >M@<O@'H<B@"<O< K LP
    LA
    3FUVSOTBO *NBHF%BUB Q PCKFDUXJUIUIFHJWFOEJNFOTJPOTJO$44QJYFMT XIJDINJHIUNBQUPBEJЗFSFOU
    OVNCFSPGBDUVBMEFWJDFQJYFMTFYQPTFECZUIFPCKFDUJUTFMG
    "MMUIFQJYFMTJOUIFSFUVSOFEPCKFDUBSF
    USBOTQBSFOUCMBDL

    BF:@>=:M:  <HGM>QM >M@<O@'H<B@"<O< K BF:@>=:M:


    3FUVSOTBO *NBHF%BUB Q PCKFDUXJUIUIFTBNFEJNFOTJPOTBTUIFBSHVNFOU"MMUIFQJYFMTJOUIFSFUVSOFE
    PCKFDUBSFUSBOTQBSFOUCMBDL
    5ISPXTB /05@4611035&%@&33 Q FYDFQUJPOJGUIFBSHVNFOUJTOVMM

    BF:@>=:M:  <HGM>QM B@O'H<B@"<O< K LQ


    LR
    LP
    LA
    3FUVSOTBO *NBHF%BUB Q PCKFDUDPOUBJOJOHUIFJNBHFEBUBGPSUIFHJWFOSFDUBOHMFPGUIFDBOWBT
    5ISPXTB /05@4611035&%@&33 Q FYDFQUJPOJGBOZPGUIFBSHVNFOUTBSFOPUИOJUF5ISPXTBO
    */%&9@4*;&@&33 Q FYDFQUJPOJGUIFFJUIFSPGUIFXJEUIPSIFJHIUBSHVNFOUTBSF[FSP

    BF:@>=:M: RD?OC K


    BF:@>=:M: C@DBCO K
    3FUVSOTUIFBDUVBMEJNFOTJPOTPGUIFEBUBJOUIF *NBHF%BUB Q PCKFDU JOEFWJDFQJYFMT

    BF:@>=:M: ?<O< K


    3FUVSOTUIFPOFEJNFOTJPOBMBSSBZDPOUBJOJOHUIFEBUBJO3(#"PSEFS BTJOUFHFSTJOUIFSBOHFUP

    <HGM>QM KPO'H<B@"<O< K BF:@>=:M:


    =Q
    =R 7
    =BKMR4
    =BKMR5
    =BKMR3B=MA
    =BKMR$>B@AM 8
    1BJOUTUIFEBUBGSPNUIFHJWFO *NBHF%BUB Q PCKFDUPOUPUIFDBOWBT*GBEJSUZSFDUBOHMFJTQSPWJEFE POMZ
    UIFQJYFMTGSPNUIBUSFDUBOHMFBSFQBJOUFE
    5IF HMPCBM"MQIB Q BOE HMPCBM$PNQPTJUF0QFSBUJPO Q BUUSJCVUFT BTXFMMBTUIFTIBEPXBUUSJCVUFT BSF
    JHOPSFEGPSUIFQVSQPTFTPGUIJTNFUIPEDBMMQJYFMTJOUIFDBOWBTBSFSFQMBDFEXIPMFTBMF XJUIOP
    DPNQPTJUJPO BMQIBCMFOEJOH OPTIBEPXT FUD
    *GUIFИSTUBSHVNFOUJTOUBO *NBHF%BUB Q PCKFDU UISPXTB 5:1&@.*4."5$)@&33 Q FYDFQUJPO5ISPXTB
    /05@4611035&%@&33 Q FYDFQUJPOJGBOZPGUIFPUIFSBSHVNFOUTBSFOPUИOJUF

    5IF >M@<O@'H<B@"<O< NFUIPEJTVTFEUPJOTUBOUJBUFOFXCMBOL *NBHF%BUB Q PCKFDUT8IFOUIFNFUIPEJTJOWPLFE


    XJUIUXPBSHVNFOUT BF BOE B7 JUNVTUSFUVSOBO *NBHF%BUB Q PCKFDUSFQSFTFOUJOHBSFDUBOHMFXJUIBXJEUIJO$44
    QJYFMTFRVBMUPUIFBCTPMVUFNBHOJUVEFPG BF BOEBIFJHIUJO$44QJYFMTFRVBMUPUIFBCTPMVUFNBHOJUVEFPG B78IFO
    JOWPLFEXJUIBTJOHMF 8<06430C0 BSHVNFOU JUNVTUSFUVSOBO *NBHF%BUB Q PCKFDUSFQSFTFOUJOHBSFDUBOHMFXJUIUIF
    TBNFEJNFOTJPOTBTUIF *NBHF%BUB Q PCKFDUQBTTFEBTUIFBSHVNFOU5IF *NBHF%BUB Q PCKFDUSFUVSONVTUCFИMMFE
    XJUIUSBOTQBSFOUCMBDL

    5IF B@O'H<B@"<O<LQ LR LP LA NFUIPENVTUSFUVSOBO *NBHF%BUB Q PCKFDUSFQSFTFOUJOHUIFVOEFSMZJOHQJYFM


    EBUBGPSUIFBSFBPGUIFDBOWBTEFOPUFECZUIFSFDUBOHMFXIPTFDPSOFSTBSFUIFGPVSQPJOUT BG BH
     BG BF BH

    BG BF BH B7
     BG BH B7
    JODBOWBTDPPSEJOBUFTQBDFVOJUT1JYFMTPVUTJEFUIFDBOWBTNVTUCFSFUVSOFEBT
    USBOTQBSFOUCMBDL1JYFMTNVTUCFSFUVSOFEBTOPOQSFNVMUJQMJFEBMQIBWBMVFT

    
    *GBOZPGUIFBSHVNFOUTUP DSFBUF*NBHF%BUB
    Q PS HFU*NBHF%BUB
    Q BSFJOИOJUFPS/B/ PSJGUIF
    DSFBUF*NBHF%BUB
    Q NFUIPEJTJOWPLFEXJUIPOMZPOFBSHVNFOUCVUUIBUBSHVNFOUJTOVMM UIFNFUIPENVTUJOTUFBE
    SBJTFB /05@4611035&%@&33 Q FYDFQUJPO*GFJUIFSUIF BF PS B7 BSHVNFOUTBSF[FSP UIFNFUIPENVTUJOTUFBESBJTFBO
    */%&9@4*;&@&33 Q FYDFQUJPO

    *NBHF%BUB Q PCKFDUTNVTUCFJOJUJBMJ[FETPUIBUUIFJS RD?OC BUUSJCVUFJTTFUUP F UIFOVNCFSPGQIZTJDBMEFWJDFQJYFMT


    QFSSPXJOUIFJNBHFEBUB UIFJS C@DBCO BUUSJCVUFJTTFUUP 7 UIFOVNCFSPGSPXTJOUIFJNBHFEBUB BOEUIFJS ?<O<
    BUUSJCVUFJTJOJUJBMJ[FEUPB $BOWBT1JYFM"SSBZ Q PCKFDUIPMEJOHUIFJNBHFEBUB"UMFBTUPOFQJYFMTXPSUIPGJNBHF
    EBUBNVTUCFSFUVSOFE

    5IF $BOWBT1JYFM"SSBZ Q PCKFDUQSPWJEFTPSEFSFE JOEFYFEBDDFTTUPUIFDPMPSDPNQPOFOUTPGFBDIQJYFMPGUIFJNBHF


    EBUB5IFEBUBNVTUCFSFQSFTFOUFEJOMFGUUPSJHIUPSEFS SPXCZSPXUPQUPCPUUPN TUBSUJOHXJUIUIFUPQMFGU XJUI
    FBDIQJYFMTSFE HSFFO CMVF BOEBMQIBDPNQPOFOUTCFJOHHJWFOJOUIBUPSEFSGPSFBDIQJYFM&BDIDPNQPOFOUPGFBDI
    EFWJDFQJYFMSFQSFTFOUFEJOUIJTBSSBZNVTUCFJOUIFSBOHF SFQSFTFOUJOHUIFCJUWBMVFGPSUIBUDPNQPOFOU
    5IFDPNQPOFOUTNVTUCFBTTJHOFEDPOTFDVUJWFJOEJDFTTUBSUJOHXJUIGPSUIFUPQMFGUQJYFMTSFEDPNQPOFOU

    5IF $BOWBT1JYFM"SSBZ Q PCKFDUUIVTSFQSFTFOUT 7•F•JOUFHFST5IF G@IBOC BUUSJCVUFPGB $BOWBT1JYFM"SSBZ Q


    PCKFDUNVTUSFUVSOUIJTOVNCFS

    5IFPCKFDUT JOEJDFTPGUIFTVQQPSUFEJOEFYFEQSPQFSUJFT BSFUIFOVNCFSTJOUIFSBOHF 7•F•

    8IFOB $BOWBT1JYFM"SSBZ Q PCKFDUJT CH>?R?>NIL?NLC?P?;HCH>?R?>JLIJ?LNS 8=34G UIFWBMVFSFUVSOFENVTU


    CFUIFWBMVFPGUIF 8=34GUIDPNQPOFOUJOUIFBSSBZ

    8IFOB $BOWBT1JYFM"SSBZ Q PCKFDUJT CH>?R?>NIGI>C@S;HCH>?R?>JLIJ?LNS 8=34G XJUIWBMVF E0;D4 UIFWBMVF


    PGUIF 8=34GUIDPNQPOFOUJOUIFBSSBZNVTUCFTFUUP E0;D4

    *HM> 0A>PB=MA:G=A>B@AMP :G= AFB@AM;>=BZ>K>GM?KHFMA> LP :G= LA :K@NF>GMLMHMA>


    :;HO>F>MAH=L > @ B?MA><:GO:LBL;:<D>=;R:AB@A
    K>LHENMBHG;BMF:I HKB?MA> LP :G= LA
    :K@NF>GML:K>G>@:MBO>

    5IF KPO'H<B@"<O<BF:@>=:M: =Q =R =BKMR6 =BKMR7 =BKMR5B=MA =BKMR'>B@AM NFUIPEXSJUFTEBUBGSPN


    *NBHF%BUB Q TUSVDUVSFTCBDLUPUIFDBOWBT

    *GBOZPGUIFBSHVNFOUTUPUIFNFUIPEBSFJOИOJUFPS/B/ UIFNFUIPENVTUSBJTFB /05@4611035&%@&33 Q FYDFQUJPO

    *GUIFИSTUBSHVNFOUUPUIFNFUIPEJTOVMMPSOPUBO *NBHF%BUB Q PCKFDUUIFOUIF QVU*NBHF%BUB


    Q NFUIPENVTU
    SBJTFB 5:1&@.*4."5$)@&33 Q FYDFQUJPO

    8IFOUIFMBTUGPVSBSHVNFOUTBSFPNJUUFE UIFZNVTUCFBTTVNFEUPIBWFUIFWBMVFT  UIF XJEUI Q NFNCFSPG


    UIF 8<06430C0 TUSVDUVSF BOEUIF IFJHIU Q NFNCFSPGUIF 8<06430C0 TUSVDUVSF SFTQFDUJWFMZ

    8IFOJOWPLFEXJUIBSHVNFOUTUIBUEPOPU QFSUIFMBTUGFXQBSBHSBQIT DBVTFBOFYDFQUJPOUPCFSBJTFE UIF


    QVU*NBHF%BUB
    Q NFUIPENVTUBDUBTGPMMPXT

     -FU 3G34E824 CFUIFYDPPSEJOBUFPGUIFEFWJDFQJYFMJOUIFVOEFSMZJOHQJYFMEBUBPGUIFDBOWBTDPSSFTQPOEJOH


    UPUIF 3G DPPSEJOBUFJOUIFDBOWBTDPPSEJOBUFTQBDF

    -FU 3H34E824 CFUIFZDPPSEJOBUFPGUIFEFWJDFQJYFMJOUIFVOEFSMZJOHQJYFMEBUBPGUIFDBOWBTDPSSFTQPOEJOH


    UPUIF 3H DPPSEJOBUFJOUIFDBOWBTDPPSEJOBUFTQBDF

     *G 38ACH-83C7 JTOFHBUJWF MFU 38ACH. CF 38ACH. 38ACH-83C7 BOEMFU 38ACH-83C7 CFFRVBMUPUIFBCTPMVUF


    NBHOJUVEFPG 38ACH-83C7

    *G 38ACH4867C JTOFHBUJWF MFU 38ACH/ CF 38ACH/ 38ACH4867C BOEMFU 38ACH4867C CFFRVBMUPUIFBCTPMVUF


    NBHOJUVEFPG 38ACH4867C

     *G 38ACH. JTOFHBUJWF MFU 38ACH-83C7 CF 38ACH-83C7 38ACH. BOEMFU 38ACH. CF[FSP

    *G 38ACH/ JTOFHBUJWF MFU 38ACH4867C CF 38ACH4867C 38ACH/ BOEMFU 38ACH/ CF[FSP

     *G 38ACH. 38ACH-83C7 JTHSFBUFSUIBOUIF XJEUI Q BUUSJCVUFPGUIF 8<06430C0 BSHVNFOU MFU 38ACH-83C7 CFUIF
    WBMVFPGUIBU XJEUI Q BUUSJCVUF NJOVTUIFWBMVFPG 38ACH.

    *G 38ACH/ 38ACH4867C JTHSFBUFSUIBOUIF IFJHIU Q BUUSJCVUFPGUIF 8<06430C0 BSHVNFOU MFU 38ACH4867C CF
    UIFWBMVFPGUIBU IFJHIU Q BUUSJCVUF NJOVTUIFWBMVFPG 38ACH/

     *G BGUFSUIPTFDIBOHFT FJUIFS 38ACH-83C7 PS 38ACH4867C JTOFHBUJWFPS[FSP TUPQUIFTFTUFQTXJUIPVU


    BЗFDUJOHUIFDBOWBT

    
     0UIFSXJTF GPSBMMJOUFHFSWBMVFTPG G BOE H XIFSF 38ACH. ˘ G  38ACH. 38ACH-83C7 BOE
    38ACH/ ˘ H  38ACH/ 38ACH4867C DPQZUIFGPVSDIBOOFMTPGUIFQJYFMXJUIDPPSEJOBUF G H
    JOUIF 8<06430C0
    EBUBTUSVDUVSFUPUIFQJYFMXJUIDPPSEJOBUF 3G34E824 G 3H34E824 H
    JOUIFVOEFSMZJOHQJYFMEBUBPGUIF
    DBOWBT

    5IFIBOEMJOHPGQJYFMSPVOEJOHXIFOUIFTQFDJИFEDPPSEJOBUFTEPOPUFYBDUMZNBQUPUIFEFWJDFDPPSEJOBUFTQBDFJT
    OPUEFИOFECZUIJTTQFDJИDBUJPO FYDFQUUIBUUIFGPMMPXJOHNVTUSFTVMUJOOPWJTJCMFDIBOHFTUPUIFSFOEFSJOH

    DPOUFYUQVU*NBHF%BUB DPOUFYUHFU*NBHF%BUB Y Z X I
    Q R
    

    GPSBOZWBMVFPG G H F BOE 7 BOEXIFSF ? JTUIFTNBMMFSPG G BOEUIFTVNPG G BOE F BOE @ JTUIFTNBMMFSPG H BOE


    UIFTVNPG H BOE 7BOEFYDFQUUIBUUIFGPMMPXJOHUXPDBMMT

    DPOUFYUDSFBUF*NBHF%BUB X I
    
    DPOUFYUHFU*NBHF%BUB   X I
    

    NVTUSFUVSO *NBHF%BUB Q PCKFDUTXJUIUIFTBNFEJNFOTJPOT GPSBOZWBMVFPG F BOE 7*OPUIFSXPSET XIJMFVTFS


    BHFOUTNBZSPVOEUIFBSHVNFOUTPGUIFTFNFUIPETTPUIBUUIFZNBQUPEFWJDFQJYFMCPVOEBSJFT BOZSPVOEJOH
    QFSGPSNFENVTUCFQFSGPSNFEDPOTJTUFOUMZGPSBMMPGUIF DSFBUF*NBHF%BUB
    Q HFU*NBHF%BUB
    Q BOE
    QVU*NBHF%BUB
    Q PQFSBUJPOT

    *HM> N>MHMA>EHLLRG:MNK>H?<HGO>KMBG@MH:G=?KHFIK>FNEMBIEB>=:EIA:<HEHKO:EN>L IBQ>EL


    MA:MA:O>CNLM;>>GL>MNLBG@ INM(F:@>#:M: I FB@AM;>K>MNKG>=MH:G>JNBO:E>GM
    @>M(F:@>#:M: I :L=BZ>K>GMO:EN>L

    5IFDVSSFOUQBUI USBOTGPSNBUJPONBUSJY Q TIBEPXBUUSJCVUFT Q HMPCBMBMQIB Q UIF DMJQQJOHSFHJPO Q BOE HMPCBM
    DPNQPTJUJPOPQFSBUPS Q NVTUOPUBЗFDUUIF HFU*NBHF%BUB
    Q BOE QVU*NBHF%BUB
    Q NFUIPET

    5IFEBUBSFUVSOFECZ HFU*NBHF%BUB
    Q JTBUUIFSFTPMVUJPOPGUIFDBOWBTCBDLJOHTUPSF XIJDIJTMJLFMZUPOPU
    CFPOFEFWJDFQJYFMUPFBDI$44QJYFMJGUIFEJTQMBZVTFEJTBIJHISFTPMVUJPOEJTQMBZ

    *OUIFGPMMPXJOHFYBNQMF UIFTDSJQUHFOFSBUFTBO *NBHF%BUB Q PCKFDUTPUIBUJUDBOESBXPOUPJU

    DBOWBTJTBSFGFSFODFUPBDBOWBTFMFNFOU
    WBSDPOUFYUDBOWBTHFU$POUFYU E
    

    DSFBUFBCMBOLTMBUF
    WBSEBUBDPOUFYUDSFBUF*NBHF%BUB DBOWBTXJEUI DBOWBTIFJHIU
    

    DSFBUFTPNFQMBTNB
    'JMM1MBTNB EBUB HSFFO
    HSFFOQMBTNB

    BEEBDMPVEUPUIFQMBTNB
    "EE$MPVE EBUB EBUBXJEUI EBUBIFJHIU
    QVUBDMPVEJOUIFNJEEMF

    QBJOUUIFQMBTNB DMPVEPOUIFDBOWBT
    DPOUFYUQVU*NBHF%BUB EBUB  
    

    TVQQPSUNFUIPET
    GVODUJPO'JMM1MBTNB EBUB DPMPS
    \^
    GVODUJPO"EE$MPVE EBUB Y Z
    \^

    )FSFJTBOFYBNQMFPGVTJOH HFU*NBHF%BUB
    Q BOE QVU*NBHF%BUB
    Q UPJNQMFNFOUBOFEHFEFUFDUJPOИMUFS

    %0$5:1&)5.-
    IUNM
    IFBE
    UJUMF&EHFEFUFDUJPOEFNPUJUMF
    TDSJQU
    WBSJNBHFOFX*NBHF
    
    GVODUJPOJOJU
    \
    JNBHFPOMPBEEFNP
    JNBHFTSDJNBHFKQFH
    ^
    GVODUJPOEFNP
    \
    WBSDBOWBTEPDVNFOUHFU&MFNFOUT#Z5BH/BNF DBOWBT
    <>
    WBSDPOUFYUDBOWBTHFU$POUFYU E
    

    
    ESBXUIFJNBHFPOUPUIFDBOWBT
    DPOUFYUESBX*NBHF JNBHF  
    

    HFUUIFJNBHFEBUBUPNBOJQVMBUF
    WBSJOQVUDPOUFYUHFU*NBHF%BUB   DBOWBTXJEUI DBOWBTIFJHIU
    

    HFUBOFNQUZTMBUFUPQVUUIFEBUBJOUP
    WBSPVUQVUDPOUFYUDSFBUF*NBHF%BUB DBOWBTXJEUI DBOWBTIFJHIU
    

    BMJBTTPNFWBSJBCMFTGPSDPOWFOJFODF
    OPUJDFUIBUXFBSFVTJOHJOQVUXJEUIBOEJOQVUIFJHIUIFSF
    BTUIFZNJHIUOPUCFUIFTBNFBTDBOWBTXJEUIBOEDBOWBTIFJHIU
     JOQBSUJDVMBS UIFZNJHIUCFEJGGFSFOUPOIJHISFTEJTQMBZT

    WBSXJOQVUXJEUI IJOQVUIFJHIU
    WBSJOQVU%BUBJOQVUEBUB
    WBSPVUQVU%BUBPVUQVUEBUB

    FEHFEFUFDUJPO
    GPS WBSZZIZ 
    \
    GPS WBSYYXY 
    \
    GPS WBSDDD 
    \
    WBSJ Z X Y
     D
    PVUQVU%BUB<J> JOQVU%BUB<JX >JOQVU%BUB<JX >
    JOQVU%BUB<JX  >
    JOQVU%BUB<J>  JOQVU%BUB<J>
    JOQVU%BUB<J >
    JOQVU%BUB<J X >JOQVU%BUB<J X >
    JOQVU%BUB<J X  >
    ^
    PVUQVU%BUB< Z X Y
     >BMQIB
    ^
    ^

    QVUUIFJNBHFEBUBCBDLBGUFSNBOJQVMBUJPO
    DPOUFYUQVU*NBHF%BUB PVUQVU  
    
    ^
    TDSJQU
    IFBE
    CPEZPOMPBEJOJU
    
    DBOWBTDBOWBT
    CPEZ
    IUNM

         K:PBG@FH=>E

    8IFOBTIBQFPSJNBHFJTQBJOUFE VTFSBHFOUTNVTUGPMMPXUIFTFTUFQT JOUIFPSEFSHJWFO PSBDUBTJGUIFZEP


    

     3FOEFSUIFTIBQFPSJNBHFPOUPBOJOИOJUFUSBOTQBSFOUCMBDLCJUNBQ DSFBUJOHJNBHF  BTEFTDSJCFEJOUIF


    QSFWJPVTTFDUJPOT'PSTIBQFT UIFDVSSFOUИMM TUSPLF BOEMJOFTUZMFTNVTUCFIPOPSFE BOEUIFTUSPLFNVTU
    JUTFMGBMTPCFTVCKFDUFEUPUIFDVSSFOUUSBOTGPSNBUJPONBUSJY

     8IFOTIBEPXTBSFESBXO Q SFOEFSUIFTIBEPXGSPNJNBHF  VTJOHUIFDVSSFOUTIBEPXTUZMFT DSFBUJOH


    JNBHF 

     8IFOTIBEPXTBSFESBXO Q NVMUJQMZUIFBMQIBDPNQPOFOUPGFWFSZQJYFMJO  CZ HMPCBM"MQIB Q 

     8IFOTIBEPXTBSFESBXO Q DPNQPTJUF  XJUIJOUIFDMJQQJOHSFHJPOPWFSUIFDVSSFOUDBOWBTCJUNBQVTJOH


    UIFDVSSFOUDPNQPTJUJPOPQFSBUPS

     .VMUJQMZUIFBMQIBDPNQPOFOUPGFWFSZQJYFMJO  CZ HMPCBM"MQIB Q 

     $PNQPTJUF  XJUIJOUIFDMJQQJOHSFHJPOPWFSUIFDVSSFOUDBOWBTCJUNBQVTJOHUIFDVSSFOUDPNQPTJUJPO
    PQFSBUPS

    
         !Q:FIE>L

    *78BB42C8>=8B=>==>A<0C8E4

    )FSFJTBOFYBNQMFPGBTDSJQUUIBUVTFTDBOWBTUPESBXQSFUUZHMPXJOHMJOFT

    DBOWBTXJEUIIFJHIUDBOWBT
    TDSJQU

    WBSDPOUFYUEPDVNFOUHFU&MFNFOUT#Z5BH/BNF DBOWBT
    <>HFU$POUFYU E
    

    WBSMBTU9DPOUFYUDBOWBTXJEUI .BUISBOEPN
    
    WBSMBTU:DPOUFYUDBOWBTIFJHIU .BUISBOEPN
    
    WBSIVF
    GVODUJPOMJOF
    \
    DPOUFYUTBWF
    
    DPOUFYUUSBOTMBUF DPOUFYUDBOWBTXJEUI DPOUFYUDBOWBTIFJHIU
    
    DPOUFYUTDBMF  
    
    DPOUFYUUSBOTMBUF DPOUFYUDBOWBTXJEUI DPOUFYUDBOWBTIFJHIU
    
    DPOUFYUCFHJO1BUI
    
    DPOUFYUMJOF8JEUI .BUISBOEPN
     
    DPOUFYUNPWF5P MBTU9 MBTU:
    
    MBTU9DPOUFYUDBOWBTXJEUI .BUISBOEPN
    
    MBTU:DPOUFYUDBOWBTIFJHIU .BUISBOEPN
    
    DPOUFYUCF[JFS$VSWF5P DPOUFYUDBOWBTXJEUI .BUISBOEPN

    DPOUFYUDBOWBTIFJHIU .BUISBOEPN

    DPOUFYUDBOWBTXJEUI .BUISBOEPN

    DPOUFYUDBOWBTIFJHIU .BUISBOEPN

    MBTU9 MBTU:
    

    IVFIVF  .BUISBOEPN


    
    DPOUFYUTUSPLF4UZMFITM  IVF   
    
    DPOUFYUTIBEPX$PMPSXIJUF
    DPOUFYUTIBEPX#MVS
    DPOUFYUTUSPLF
    
    DPOUFYUSFTUPSF
    
    ^
    TFU*OUFSWBM MJOF 
    

    GVODUJPOCMBOL
    \
    DPOUFYUGJMM4UZMFSHCB    
    
    DPOUFYUGJMM3FDU   DPOUFYUDBOWBTXJEUI DPOUFYUDBOWBTIFJHIU
    
    ^
    TFU*OUFSWBM CMBOL 
    

    TDSJQU

        IFILMJ;=?M;H>=IFIL=ILL?=NCIH

    5IF DBOWBT Q "1*TNVTUQFSGPSNDPMPSDPSSFDUJPOBUPOMZUXPQPJOUTXIFOSFOEFSJOHJNBHFTXJUIUIFJSPXOHBNNB


    DPSSFDUJPOBOEDPMPSTQBDFJOGPSNBUJPOPOUPUIFDBOWBT UPDPOWFSUUIFJNBHFUPUIFDPMPSTQBDFVTFECZUIFDBOWBT
    FHVTJOHUIF%$POUFYUT ESBX*NBHF
    Q NFUIPEXJUIBO )5.-*NBHF&MFNFOU Q PCKFDU
    BOEXIFOSFOEFSJOHUIF
    BDUVBMDBOWBTCJUNBQUPUIFPVUQVUEFWJDF

    *HM> 0ANL BGMA> <HGM>QM <HEHKLNL>=MH=K:PLA:I>LHGMHMA><:GO:LPBEE>Q:<MERF:M<A


    <HEHKLH;M:BG>=MAKHN@AMA> @>M(F:@>#:M: I F>MAH=

    5IF UP%BUB63-
    Q NFUIPENVTUOPUJODMVEFDPMPSTQBDFJOGPSNBUJPOJOUIFSFTPVSDFSFUVSOFE8IFSFUIFPVUQVU
    GPSNBUBMMPXTJU UIFDPMPSPGQJYFMTJOSFTPVSDFTDSFBUFECZ UP%BUB63-
    Q NVTUNBUDIUIPTFSFUVSOFECZUIF
    HFU*NBHF%BUB
    Q NFUIPE

    *OVTFSBHFOUTUIBUTVQQPSU$44 UIFDPMPSTQBDFVTFECZB DBOWBT Q FMFNFOUNVTUNBUDIUIFDPMPSTQBDFVTFEGPS


    QSPDFTTJOHBOZDPMPSTGPSUIBUFMFNFOUJO$44

    5IFHBNNBDPSSFDUJPOBOEDPMPSTQBDFJOGPSNBUJPOPGJNBHFTNVTUCFIBOEMFEJOTVDIBXBZUIBUBOJNBHFSFOEFSFE
    EJSFDUMZVTJOHBO JNH Q FMFNFOUXPVMEVTFUIFTBNFDPMPSTBTPOFQBJOUFEPOB DBOWBT Q FMFNFOUUIBUJTUIFOJUTFMG

    
    SFOEFSFE'VSUIFSNPSF UIFSFOEFSJOHPGJNBHFTUIBUIBWFOPDPMPSDPSSFDUJPOJOGPSNBUJPO TVDIBTUIPTFSFUVSOFECZ
    UIF UP%BUB63-
    Q NFUIPE
    NVTUCFSFOEFSFEXJUIOPDPMPSDPSSFDUJPO

    *HM> 0ANL BGMA> <HGM>QM <:EEBG@MA> =K:P(F:@> I F>MAH=MHK>G=>KMA>HNMINMH?MA>


    MH#:M:30* I F>MAH=MHMA><:GO:L @BO>GMA>:IIKHIKB:M>=BF>GLBHGL A:LGHOBLB;E>>Z><M

        /?=OLCNSQCNB ><IQ<N K ?F?G?HNM

    %H@ILG;NCIHF?;E;A? DBOPDDVSJGTDSJQUTGSPNPOF PSJHJO Q DBOBDDFTTJOGPSNBUJPO FHSFBEQJYFMT


    GSPNJNBHFT
    GSPNBOPUIFSPSJHJO POFUIBUJTOUUIF TBNF Q
    

    5PNJUJHBUFUIJT DBOWBT Q FMFNFOUTBSFEFИOFEUPIBWFBЙBHJOEJDBUJOHXIFUIFSUIFZBSF >A868=2;40="MM DBOWBT Q


    FMFNFOUTNVTUTUBSUXJUIUIFJS >A868=2;40= TFUUPUSVF5IFЙBHNVTUCFTFUUPGBMTFJGBOZPGUIFGPMMPXJOHBDUJPOT
    PDDVS

    Ǭ 5IFFMFNFOUT%DPOUFYUT ESBX*NBHF
    Q NFUIPEJTDBMMFEXJUIBO )5.-*NBHF&MFNFOU Q PSBO
    )5.-7JEFP&MFNFOU Q XIPTF PSJHJO Q JTOPUUIF TBNF Q BTUIBUPGUIF %PDVNFOU Q PCKFDUUIBUPXOTUIF
    DBOWBT Q FMFNFOU

    Ǭ 5IFFMFNFOUT%DPOUFYUT ESBX*NBHF
    Q NFUIPEJTDBMMFEXJUIBO )5.-$BOWBT&MFNFOU Q XIPTF >A868=
    2;40= ЙBHJTGBMTF

    Ǭ 5IFFMFNFOUT%DPOUFYUT GJMM4UZMF Q BUUSJCVUFJTTFUUPB $BOWBT1BUUFSO Q PCKFDUUIBUXBTDSFBUFE


    GSPNBO )5.-*NBHF&MFNFOU Q PSBO )5.-7JEFP&MFNFOU Q XIPTF PSJHJO Q XBTOPUUIF TBNF Q BTUIBUPG
    UIF %PDVNFOU Q PCKFDUUIBUPXOTUIF DBOWBT Q FMFNFOUXIFOUIFQBUUFSOXBTDSFBUFE

    Ǭ 5IFFMFNFOUT%DPOUFYUT GJMM4UZMF Q BUUSJCVUFJTTFUUPB $BOWBT1BUUFSO Q PCKFDUUIBUXBTDSFBUFE


    GSPNBO )5.-$BOWBT&MFNFOU Q XIPTF >A868=2;40= ЙBHXBTGBMTFXIFOUIFQBUUFSOXBTDSFBUFE

    Ǭ 5IFFMFNFOUT%DPOUFYUT TUSPLF4UZMF Q BUUSJCVUFJTTFUUPB $BOWBT1BUUFSO Q PCKFDUUIBUXBTDSFBUFE


    GSPNBO )5.-*NBHF&MFNFOU Q PSBO )5.-7JEFP&MFNFOU Q XIPTF PSJHJO Q XBTOPUUIF TBNF Q BTUIBUPG
    UIF %PDVNFOU Q PCKFDUUIBUPXOTUIF DBOWBT Q FMFNFOUXIFOUIFQBUUFSOXBTDSFBUFE

    Ǭ 5IFFMFNFOUT%DPOUFYUT TUSPLF4UZMF Q BUUSJCVUFJTTFUUPB $BOWBT1BUUFSO Q PCKFDUUIBUXBTDSFBUFE


    GSPNBO )5.-$BOWBT&MFNFOU Q XIPTF >A868=2;40= ЙBHXBTGBMTFXIFOUIFQBUUFSOXBTDSFBUFE

    8IFOFWFSUIF UP%BUB63-
    Q NFUIPEPGB DBOWBT Q FMFNFOUXIPTF >A868=2;40= ЙBHJTTFUUPGBMTFJTDBMMFE UIF
    NFUIPENVTUSBJTFB 4&$63*5:@&33 Q FYDFQUJPO

    8IFOFWFSUIF HFU*NBHF%BUB
    Q NFUIPEPGUIF%DPOUFYUPGB DBOWBT Q FMFNFOUXIPTF >A868=2;40= ЙBHJTTFUUP
    GBMTFJTDBMMFEXJUIPUIFSXJTFDPSSFDUBSHVNFOUT UIFNFUIPENVTUSBJTFB 4&$63*5:@&33 Q FYDFQUJPO

    *HM> !O>GK>L>MMBG@MA><:GO:LLM:M>;R<A:G@BG@BML PB=MA I HK A>B@AM I :MMKB;NM>L=H>LGM


    K>L>MMA> HKB@BG
    <E>:G \:@

       0B? H<K ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    8IFOUIFFMFNFOUPOMZDPOUBJOT QISBTJOHDPOUFOU Q  QISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    5SBOTQBSFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    OBNF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*+<K#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH OBNF

    
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO BSFBT
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO JNBHFT
    ^

    5IF NBQ Q FMFNFOU JODPOKVODUJPOXJUIBOZ BSFB Q FMFNFOUEFTDFOEBOUT EFИOFTBO JNBHFNBQ Q 5IFFMFNFOU
    SFQSFTFOUT Q JUTDIJMESFO

    5IF I<H@ BUUSJCVUFHJWFTUIFNBQBOBNFTPUIBUJUDBOCFSFGFSFODFE5IFBUUSJCVUFNVTUCFQSFTFOUBOENVTUIBWFB


    OPOFNQUZWBMVFXJUIOP TQBDFDIBSBDUFST Q 5IFWBMVFPGUIF OBNF Q BUUSJCVUFNVTUOPUCFB DPNQBUJCJMJUZ
    DBTFMFTT Q NBUDIGPSUIFWBMVFPGUIF OBNF Q BUUSJCVUFPGBOPUIFS NBQ Q FMFNFOUJOUIFTBNFEPDVNFOU*GUIF JE Q
    BUUSJCVUFJTBMTPTQFDJИFE CPUIBUUSJCVUFTNVTUIBWFUIFTBNFWBMVF

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    F:I <M@<N K
    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIF BSFB Q FMFNFOUTJOUIF NBQ Q 

    F:I DH<B@N K


    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIF JNH Q BOE PCKFDU Q FMFNFOUTUIBUVTFUIF NBQ Q 

    5IF <M@<N BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF NBQ Q FMFNFOU XIPTFИMUFSNBUDIFTPOMZ
    BSFB Q FMFNFOUT

    5IF DH<B@N BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZ
    JNH Q BOE PCKFDU Q FMFNFOUTUIBUBSFBTTPDJBUFEXJUIUIJT NBQ Q FMFNFOUBDDPSEJOHUPUIF JNBHFNBQ Q
    QSPDFTTJOHNPEFM

    5IF*%-BUUSJCVUF I<H@ NVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

       0B? <M@< ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE CVUPOMZJGUIFSFJTB NBQ Q FMFNFOUBODFTUPS

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    BMU Q
    DPPSET Q
    TIBQF Q
    ISFG Q
    UBSHFU Q
    QJOH Q
    SFM Q
    NFEJB Q
    ISFGMBOH Q
    UZQF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*M@<#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH BMU
    BUUSJCVUF%0.4USJOH DPPSET
    BUUSJCVUF%0.4USJOH TIBQF
    TUSJOHJGJFSBUUSJCVUF%0.4USJOH ISFG

    
    BUUSJCVUF%0.4USJOH UBSHFU

    BUUSJCVUF%0.4USJOH QJOH

    BUUSJCVUF%0.4USJOH SFM
    SFBEPOMZBUUSJCVUF %0.5PLFO-JTU SFM-JTU
    BUUSJCVUF%0.4USJOH NFEJB
    BUUSJCVUF%0.4USJOH ISFGMBOH
    BUUSJCVUF%0.4USJOH UZQF

     63-EFDPNQPTJUJPO*%-BUUSJCVUFT
    BUUSJCVUF%0.4USJOH QSPUPDPM
    BUUSJCVUF%0.4USJOH IPTU
    BUUSJCVUF%0.4USJOH IPTUOBNF
    BUUSJCVUF%0.4USJOH QPSU
    BUUSJCVUF%0.4USJOH QBUIOBNF
    BUUSJCVUF%0.4USJOH TFBSDI
    BUUSJCVUF%0.4USJOH IBTI
    ^

    5IF BSFB Q FMFNFOU SFQSFTFOUT Q FJUIFSBIZQFSMJOLXJUITPNFUFYUBOEBDPSSFTQPOEJOHBSFBPOBO JNBHFNBQ Q


    PSBEFBEBSFBPOBOJNBHFNBQ

    *GUIF BSFB Q FMFNFOUIBTBO ISFG Q BUUSJCVUF UIFOUIF BSFB Q FMFNFOUSFQSFTFOUTB IZQFSMJOL Q *OUIJTDBTF UIF
    <GO BUUSJCVUFNVTUCFQSFTFOU*UTQFDJИFTUIFUFYUPGUIFIZQFSMJOL*UTWBMVFNVTUCFUFYUUIBU XIFOQSFTFOUFEXJUI
    UIFUFYUTTQFDJИFEGPSUIFPUIFSIZQFSMJOLTPGUIF JNBHFNBQ Q BOEXJUIUIFBMUFSOBUJWFUFYUPGUIFJNBHF CVU
    XJUIPVUUIFJNBHFJUTFMG QSPWJEFTUIFVTFSXJUIUIFTBNFLJOEPGDIPJDFBTUIFIZQFSMJOLXPVMEXIFOVTFEXJUIPVUJUT
    UFYUCVUXJUIJUTTIBQFBQQMJFEUPUIFJNBHF5IF BMU Q BUUSJCVUFNBZCFMFGUCMBOLJGUIFSFJTBOPUIFS BSFB Q
    FMFNFOUJOUIFTBNF JNBHFNBQ Q UIBUQPJOUTUPUIFTBNFSFTPVSDFBOEIBTBOPOCMBOL BMU Q BUUSJCVUF

    *GUIF BSFB Q FMFNFOUIBTOP ISFG Q BUUSJCVUF UIFOUIFBSFBSFQSFTFOUFECZUIFFMFNFOUDBOOPUCFTFMFDUFE BOE


    UIF BMU Q BUUSJCVUFNVTUCFPNJUUFE

    *OCPUIDBTFT UIF TIBQF Q BOE DPPSET Q BUUSJCVUFTTQFDJGZUIFBSFB

    5IF NC<K@ BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q 5IFGPMMPXJOHUBCMFMJTUTUIFLFZXPSETEFИOFEGPSUIJTBUUSJCVUF5IF


    TUBUFTHJWFOJOUIFИSTUDFMMPGUIFSPXTXJUILFZXPSETHJWFUIFTUBUFTUPXIJDIUIPTFLFZXPSETNBQ 4PNFPGUIF
    LFZXPSETBSFOPODPOGPSNJOH BTOPUFEJOUIFMBTUDPMVNO

    /N;N? '?SQIL>M *IN?M


    Q
    $JSDMFTUBUF >DM>G@
    >DM> /PODPOGPSNJOH
    %FGBVMUTUBUF Q ?@A<PGO
    1PMZHPOTUBUF Q KJGT
    KJGTBJI /PODPOGPSNJOH
    3FDUBOHMFTUBUF Q M@>O
    M@>O<IBG@ /PODPOGPSNJOH

    5IFBUUSJCVUFNBZCFPNJUUFE5IF <8BB8=6E0;D43450D;C JTUIF SFDUBOHMF Q TUBUF

    5IF >JJM?N BUUSJCVUFNVTU JGTQFDJИFE DPOUBJOB WBMJEMJTUPGJOUFHFST Q 5IJTBUUSJCVUFHJWFTUIFDPPSEJOBUFTGPSUIF


    TIBQFEFTDSJCFECZUIF TIBQF Q BUUSJCVUF 5IFQSPDFTTJOHGPSUIJTBUUSJCVUFJTEFTDSJCFEBTQBSUPGUIF JNBHFNBQ Q
    QSPDFTTJOHNPEFM

    *OUIF =CL=F?MN;N? BSFB Q FMFNFOUTNVTUIBWFB DPPSET Q BUUSJCVUFQSFTFOU XJUIUISFFJOUFHFST UIFMBTUPGXIJDI
    NVTUCFOPOOFHBUJWF5IFИSTUJOUFHFSNVTUCFUIFEJTUBODFJO$44QJYFMTGSPNUIFMFGUFEHFPGUIFJNBHFUPUIF
    DFOUFSPGUIFDJSDMF UIFTFDPOEJOUFHFSNVTUCFUIFEJTUBODFJO$44QJYFMTGSPNUIFUPQFEHFPGUIFJNBHFUPUIF
    DFOUFSPGUIFDJSDMF BOEUIFUIJSEJOUFHFSNVTUCFUIFSBEJVTPGUIFDJSDMF BHBJOJO$44QJYFMT

    *OUIF >?@;OFNMN;N? TUBUF BSFB Q FMFNFOUTNVTUOPUIBWFB DPPSET Q BUUSJCVUF 5IFBSFBJTUIFXIPMFJNBHF

    *OUIF JIFSAIHMN;N? BSFB Q FMFNFOUTNVTUIBWFB DPPSET Q BUUSJCVUFXJUIBUMFBTUTJYJOUFHFST BOEUIFOVNCFS


    PGJOUFHFSTNVTUCFFWFO&BDIQBJSPGJOUFHFSTNVTUSFQSFTFOUBDPPSEJOBUFHJWFOBTUIFEJTUBODFTGSPNUIFMFGUBOE

    
    UIFUPQPGUIFJNBHFJO$44QJYFMTSFTQFDUJWFMZ BOEBMMUIFDPPSEJOBUFTUPHFUIFSNVTUSFQSFTFOUUIFQPJOUTPGUIF
    QPMZHPO JOPSEFS

    *OUIF L?=N;HAF?MN;N? BSFB Q FMFNFOUTNVTUIBWFB DPPSET Q BUUSJCVUFXJUIFYBDUMZGPVSJOUFHFST UIFИSTUPG


    XIJDINVTUCFMFTTUIBOUIFUIJSE BOEUIFTFDPOEPGXIJDINVTUCFMFTTUIBOUIFGPVSUI5IFGPVSQPJOUTNVTU
    SFQSFTFOU SFTQFDUJWFMZ UIFEJTUBODFGSPNUIFMFGUFEHFPGUIFJNBHFUPUIFMFGUTJEFPGUIFSFDUBOHMF UIFEJTUBODFGSPN
    UIFUPQFEHFUPUIFUPQTJEF UIFEJTUBODFGSPNUIFMFGUFEHFUPUIFSJHIUTJEF BOEUIFEJTUBODFGSPNUIFUPQFEHFUP
    UIFCPUUPNTJEF BMMJO$44QJYFMT

    8IFOVTFSBHFOUTBMMPXVTFSTUP GPMMPXIZQFSMJOLT Q DSFBUFEVTJOHUIF BSFB Q FMFNFOU BTEFTDSJCFEJOUIFOFYU


    TFDUJPO UIF ISFG Q UBSHFU Q BOE QJOH Q BUUSJCVUFTEFDJEFIPXUIFMJOLJTGPMMPXFE5IF SFM Q NFEJB Q
    ISFGMBOH Q BOE UZQF Q BUUSJCVUFTNBZCFVTFEUPJOEJDBUFUPUIFVTFSUIFMJLFMZOBUVSFPGUIFUBSHFUSFTPVSDF
    CFGPSFUIFVTFSGPMMPXTUIFMJOL

    5IF UBSHFU Q QJOH Q SFM Q NFEJB Q ISFGMBOH Q BOE UZQF Q BUUSJCVUFTNVTUCFPNJUUFEJGUIF ISFG Q
    BUUSJCVUFJTOPUQSFTFOU

    5IF BDUJWBUJPOCFIBWJPS Q PG BSFB Q FMFNFOUTJTUPSVOUIFGPMMPXJOHTUFQT

     *GUIF %0."DUJWBUF Q FWFOUJORVFTUJPOJTOPU USVTUFE Q JFB DMJDL


    Q NFUIPEDBMMXBTUIFSFBTPOGPS
    UIFFWFOUCFJOHEJTQBUDIFE
    BOEUIF BSFB Q FMFNFOUT UBSHFU Q BUUSJCVUFJTTVDIUIBUBQQMZJOH UIFSVMFT
    GPSDIPPTJOHBCSPXTJOHDPOUFYUHJWFOBCSPXTJOHDPOUFYUOBNF Q VTJOHUIFWBMVFPGUIF UBSHFU Q
    BUUSJCVUFBTUIFCSPXTJOHDPOUFYUOBNF XPVMESFTVMUJOUIFSFOPUCFJOHBDIPTFOCSPXTJOHDPOUFYU UIFO
    SBJTFBO */7"-*%@"$$&44@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

     0UIFSXJTF UIFVTFSBHFOUNVTU GPMMPXUIFIZQFSMJOL Q EFИOFECZUIF BSFB Q FMFNFOU JGBOZ

    5IF*%-BUUSJCVUFT <GO >JJM?N CM@A O<MB@O KDIB M@G H@?D< CM@AG<IB BOE OTK@ FBDINVTU SFЙFDU Q UIF
    SFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF*%-BUUSJCVUF NC<K@ NVTU SFЙFDU Q UIF TIBQF Q DPOUFOUBUUSJCVUF MJNJUFEUPPOMZLOPXOWBMVFT Q 

    5IF*%-BUUSJCVUF M@G*DNO NVTU SFЙFDU Q UIF SFM Q DPOUFOUBUUSJCVUF

    5IF BSFB Q FMFNFOUBMTPTVQQPSUTUIFDPNQMFNFOUPG 63-EFDPNQPTJUJPO*%-BUUSJCVUFT Q KMJOJ>JG CJNO KJMO


    CJNOI<H@ K<OCI<H@ N@<M>C BOE C<NC5IFTFNVTUGPMMPXUIFSVMFTHJWFOGPS63-EFDPNQPTJUJPO*%-BUUSJCVUFT XJUI
    UIF JOQVU Q CFJOHUIFSFTVMUPG SFTPMWJOH Q UIFFMFNFOUT ISFG Q BUUSJCVUFSFMBUJWFUPUIFFMFNFOU JGUIFSFJTTVDIBO
    BUUSJCVUFBOESFTPMWJOHJUJTTVDDFTTGVM PSUIFFNQUZTUSJOHPUIFSXJTFBOEUIF DPNNPOTFUUFSBDUJPO Q CFJOHUIFTBNF
    BTTFUUJOHUIFFMFNFOUT ISFG Q BUUSJCVUFUPUIFOFXPVUQVUWBMVF

       %G;A?G;JM

        ONBILCHA

    "O CG;A?G;J BMMPXTHFPNFUSJDBSFBTPOBOJNBHFUPCFBTTPDJBUFEXJUI IZQFSMJOLT Q 

    "OJNBHF JOUIFGPSNPGBO JNH Q FMFNFOUPSBO PCKFDU Q FMFNFOUSFQSFTFOUJOHBOJNBHF NBZCFBTTPDJBUFEXJUI


    BOJNBHFNBQ JOUIFGPSNPGB NBQ Q FMFNFOU
    CZTQFDJGZJOHB PN@H<K BUUSJCVUFPOUIF JNH Q PS PCKFDU Q FMFNFOU
    5IF VTFNBQ Q BUUSJCVUF JGTQFDJИFE NVTUCFB WBMJEIBTIOBNFSFGFSFODF Q UPB NBQ Q FMFNFOU

    $POTJEFSBOJNBHFUIBUMPPLTBTGPMMPXT

    *GXFXBOUFEKVTUUIFDPMPSFEBSFBTUPCFDMJDLBCMF XFDPVMEEPJUBTGPMMPXT

    Q
    1MFBTFTFMFDUBTIBQF

    
    JNHTSDTIBQFTQOHVTFNBQTIBQFT
    BMU'PVSTIBQFTBSFBWBJMBCMFBSFEIPMMPXCPY BHSFFODJSDMF BCMVFUSJBOHMF
    BOEBZFMMPXGPVSQPJOUFETUBS
    NBQOBNFTIBQFT
    BSFBTIBQFSFDUDPPSET   UIFIPMFJOUIFSFECPY
    BSFBTIBQFSFDUDPPSET   ISFGSFEIUNMBMU3FECPY
    BSFBTIBQFDJSDMFDPPSET  ISFGHSFFOIUNMBMU(SFFODJSDMF
    BSFBTIBQFQPMZDPPSET     ISFGCMVFIUNMBMU#MVFUSJBOHMF
    BSFBTIBQFQPMZDPPSET               
    ISFGZFMMPXIUNMBMU:FMMPXTUBS
    NBQ
    Q

        ,LI=?MMCHAGI>?F

    *GBO JNH Q FMFNFOUPSBO PCKFDU Q FMFNFOUSFQSFTFOUJOHBOJNBHFIBTB VTFNBQ Q BUUSJCVUFTQFDJИFE VTFSBHFOUT
    NVTUQSPDFTTJUBTGPMMPXT

     'JSTU SVMFTGPSQBSTJOHBIBTIOBNFSFGFSFODF Q UPB NBQ Q FMFNFOUNVTUCFGPMMPXFE5IJTXJMMSFUVSOFJUIFS


    BOFMFNFOU UIF <0?
    PSOVMM

     *GUIBUSFUVSOFEOVMM UIFOBCPSUUIFTFTUFQT5IFJNBHFJTOPUBTTPDJBUFEXJUIBOJNBHFNBQBGUFSBMM

     0UIFSXJTF UIFVTFSBHFOUNVTUDPMMFDUBMMUIF BSFB Q FMFNFOUTUIBUBSFEFTDFOEBOUTPGUIF <0?-FUUIPTF


    CFUIF 0A40B

    )BWJOHPCUBJOFEUIFMJTUPG BSFB Q FMFNFOUTUIBUGPSNUIFJNBHFNBQ UIF 0A40B


    JOUFSBDUJWFVTFSBHFOUTNVTU
    QSPDFTTUIFMJTUJOPOFPGUXPXBZT

    *GUIFVTFSBHFOUJOUFOETUPTIPXUIFUFYUUIBUUIF JNH Q FMFNFOUSFQSFTFOUT UIFOJUNVTUVTFUIFGPMMPXJOHTUFQT

    *HM> %GNL>K:@>GMLMA:M=HGHMLNIIHKMBF:@>L HKMA:MA:O>BF:@>L=BL:;E>= H;C><M I


    >E>F>GML<:GGHMK>IK>L>GMBF:@>L :G=MANLMABLL><MBHGG>O>K:IIEB>LMA> ?:EE;:<D<HGM>GM I BL
    LAHPGBGLM>:= 0A>?HEEHPBG@LM>ILMA>K>?HK>HGER:IIERMH BF@ I >E>F>GML

     3FNPWFBMMUIF BSFB Q FMFNFOUTJO 0A40B UIBUIBWFOP ISFG Q BUUSJCVUF

     3FNPWFBMMUIF BSFB Q FMFNFOUTJO 0A40B UIBUIBWFOP BMU Q BUUSJCVUF PSXIPTF BMU Q BUUSJCVUFTWBMVFJT
    UIFFNQUZTUSJOH 85 UIFSFJTBOPUIFS BSFB Q FMFNFOUJO 0A40B XJUIUIFTBNFWBMVFJOUIF ISFG Q BUUSJCVUF
    BOEXJUIBOPOFNQUZ BMU Q BUUSJCVUF

     &BDISFNBJOJOH BSFB Q FMFNFOUJO 0A40B SFQSFTFOUTB IZQFSMJOL Q 5IPTFIZQFSMJOLTTIPVMEBMMCFNBEF


    BWBJMBCMFUPUIFVTFSJOBNBOOFSBTTPDJBUFEXJUIUIFUFYUPGUIF JNH Q 

    *OUIJTDPOUFYU VTFSBHFOUTNBZSFQSFTFOU BSFB Q BOE JNH Q FMFNFOUTXJUIOPTQFDJИFE BMU BUUSJCVUFT PS
    XIPTF BMU BUUSJCVUFTBSFUIFFNQUZTUSJOHPSTPNFPUIFSOPOWJTJCMFUFYU JOBVTFSBHFOUEFИOFEGBTIJPO
    JOUFOEFEUPJOEJDBUFUIFMBDLPGTVJUBCMFBVUIPSQSPWJEFEUFYU

    *GUIFVTFSBHFOUJOUFOETUPTIPXUIFJNBHFBOEBMMPXJOUFSBDUJPOXJUIUIFJNBHFUPTFMFDUIZQFSMJOLT UIFOUIFJNBHF
    NVTUCFBTTPDJBUFEXJUIBTFUPGMBZFSFETIBQFT UBLFOGSPNUIF BSFB Q FMFNFOUTJO 0A40B JOSFWFSTFUSFFPSEFS TP
    UIFMBTUTQFDJИFE BSFB Q FMFNFOUJOUIF <0? JTUIFCPUUPNNPTUTIBQF BOEUIFИSTUFMFNFOUJOUIF <0? JOUSFF
    PSEFS JTUIFUPQNPTUTIBQF
    

    &BDI BSFB Q FMFNFOUJO 0A40B NVTUCFQSPDFTTFEBTGPMMPXTUPPCUBJOBTIBQFUPMBZFSPOUPUIFJNBHF

     'JOEUIFTUBUFUIBUUIFFMFNFOUT TIBQF Q BUUSJCVUFSFQSFTFOUT

     6TFUIF SVMFTGPSQBSTJOHBMJTUPGJOUFHFST Q UPQBSTFUIFFMFNFOUT DPPSET Q BUUSJCVUF JGJUJTQSFTFOU BOE


    MFUUIFSFTVMUCFUIF 2>>A3B MJTU*GUIFBUUSJCVUFJTBCTFOU MFUUIF 2>>A3B MJTUCFUIFFNQUZMJTU

     *GUIFOVNCFSPGJUFNTJOUIF 2>>A3B MJTUJTMFTTUIBOUIFNJOJNVNOVNCFSHJWFOGPSUIF BSFB Q FMFNFOUT


    DVSSFOUTUBUF BTQFSUIFGPMMPXJOHUBCMF UIFOUIFTIBQFJTFNQUZBCPSUUIFTFTUFQT

    /N;N? )CHCGOGHOG<?LI@CN?GM
    Q
    $JSDMFTUBUF 
    Q
    %FGBVMUTUBUF 
    1PMZHPOTUBUF Q 

    
    /N;N? )CHCGOGHOG<?LI@CN?GM
    3FDUBOHMFTUBUF Q 

     $IFDLGPSFYDFTTJUFNTJOUIF 2>>A3B MJTUBTQFSUIFFOUSZJOUIFGPMMPXJOHMJTUDPSSFTQPOEJOHUPUIF TIBQF Q


    BUUSJCVUFTTUBUF
    J
    X CL=F?MN;N?
    %SPQBOZJUFNTJOUIFMJTUCFZPOEUIFUIJSE

    X ?@;OFNMN;N? J
    %SPQBMMJUFNTJOUIFMJTU
    J
    X ,IFSAIHMN;N?
    %SPQUIFMBTUJUFNJGUIFSFTBOPEEOVNCFSPGJUFNT
    J
    X .?=N;HAF?MN;N?
    %SPQBOZJUFNTJOUIFMJTUCFZPOEUIFGPVSUI

     *GUIF TIBQF Q BUUSJCVUFSFQSFTFOUTUIF SFDUBOHMFTUBUF Q BOEUIFИSTUOVNCFSJOUIFMJTUJTOVNFSJDBMMZ


    MFTTUIBOUIFUIJSEOVNCFSJOUIFMJTU UIFOTXBQUIPTFUXPOVNCFSTBSPVOE

     *GUIF TIBQF Q BUUSJCVUFSFQSFTFOUTUIF SFDUBOHMFTUBUF Q BOEUIFTFDPOEOVNCFSJOUIFMJTUJTOVNFSJDBMMZ


    MFTTUIBOUIFGPVSUIOVNCFSJOUIFMJTU UIFOTXBQUIPTFUXPOVNCFSTBSPVOE

     *GUIF TIBQF Q BUUSJCVUFSFQSFTFOUTUIF DJSDMFTUBUF Q BOEUIFUIJSEOVNCFSJOUIFMJTUJTMFTTUIBOPSFRVBM


    UP[FSP UIFOUIFTIBQFJTFNQUZBCPSUUIFTFTUFQT

     /PX UIFTIBQFSFQSFTFOUFECZUIFFMFNFOUJTUIFPOFEFTDSJCFEGPSUIFFOUSZJOUIFMJTUCFMPXDPSSFTQPOEJOH
    UPUIFTUBUFPGUIF TIBQF Q BUUSJCVUF
    J
    X CL=F?MN;N?
    -FU G CFUIFИSTUOVNCFSJO 2>>A3B H CFUIFTFDPOEOVNCFS BOE A CFUIFUIJSEOVNCFS

    5IFTIBQFJTBDJSDMFXIPTFDFOUFSJT G $44QJYFMTGSPNUIFMFGUFEHFPGUIFJNBHFBOE G $44QJYFMT


    GSPNUIFUPQFEHFPGUIFJNBHF BOEXIPTFSBEJVTJT A QJYFMT

    X ?@;OFNMN;N? J
    5IFTIBQFJTBSFDUBOHMFUIBUFYBDUMZDPWFSTUIFFOUJSFJNBHF
    J
    X ,IFSAIHMN;N?
    -FU G8 CFUIF 8
    UIFOUSZJO 2>>A3B BOE H8 CFUIF 8 
    UIFOUSZJO 2>>A3B UIFИSTUFOUSZJO 2>>A3B
    CFJOHUIFPOFXJUIJOEFY
    

    -FU C742>>A38=0C4B CF G8 H8


    JOUFSQSFUFEJO$44QJYFMTNFBTVSFEGSPNUIFUPQMFGUPGUIFJNBHF
    GPSBMMJOUFHFSWBMVFTPG 8 GSPNUP $
     XIFSF $ JTUIFOVNCFSPGJUFNTJO 2>>A3B

    5IFTIBQFJTBQPMZHPOXIPTFWFSUJDFTBSFHJWFOCZ C742>>A38=0C4B BOEXIPTFJOUFSJPSJT


    FTUBCMJTIFEVTJOHUIFFWFOPEESVMF <(3"1)*$4> Q
    J
    X .?=N;HAF?MN;N?
    -FU G CFUIFИSTUOVNCFSJO 2>>A3B H CFUIFTFDPOEOVNCFS G CFUIFUIJSEOVNCFS BOE H CF
    UIFGPVSUIOVNCFS

    5IFTIBQFJTBSFDUBOHMFXIPTFUPQMFGUDPSOFSJTHJWFOCZUIFDPPSEJOBUF G H
    BOEXIPTF
    CPUUPNSJHIUDPSOFSJTHJWFOCZUIFDPPSEJOBUF G H
    UIPTFDPPSEJOBUFTCFJOHJOUFSQSFUFEBT$44
    QJYFMTGSPNUIFUPQMFGUDPSOFSPGUIFJNBHF

    'PSIJTUPSJDBMSFBTPOT UIFDPPSEJOBUFTNVTUCFJOUFSQSFUFESFMBUJWFUPUIF 38B?;0H43 JNBHF FWFOJGJU


    TUSFUDIFEVTJOH$44PSUIFJNBHFFMFNFOUT XJEUI BOE IFJHIU BUUSJCVUFT

    .PVTFDMJDLTPOBOJNBHFBTTPDJBUFEXJUIBTFUPGMBZFSFETIBQFTQFSUIFBCPWFBMHPSJUINNVTUCFEJTQBUDIFEUPUIF
    UPQNPTUTIBQFDPWFSJOHUIFQPJOUUIBUUIFQPJOUJOHEFWJDFJOEJDBUFE JGBOZ
    BOEUIFO NVTUCFEJTQBUDIFEBHBJO
    XJUIBOFX &WFOU Q PCKFDU
    UPUIFJNBHFFMFNFOUJUTFMG6TFSBHFOUTNBZBMTPBMMPXJOEJWJEVBM BSFB Q FMFNFOUT
    SFQSFTFOUJOH IZQFSMJOLT Q UPCFTFMFDUFEBOEBDUJWBUFE FHVTJOHBLFZCPBSE
    FWFOUTGSPNUIJTBSFOPUBMTP
    QSPQBHBUFEUPUIFJNBHF

    
    *HM> ><:NL>: F:I I >E>F>GM:G=BML :K>: I >E>F>GML<:G;>:LLH<B:M>=PBMAFNEMBIE> BF@ I
    :G= H;C><M I >E>F>GML BMBLIHLLB;E>?HK:G :K>: I >E>F>GMMH<HKK>LIHG=MHFNEMBIE>?H<NL:;E>
    :K>:LH?MA>=H<NF>GM

    *NBHFNBQTBSF MJWF Q JGUIF%0.JTNVUBUFE UIFOUIFVTFSBHFOUNVTUBDUBTJGJUIBESFSVOUIFBMHPSJUINTGPSJNBHF


    NBQT

       );NB)(

    5IF H<OC FMFNFOUGSPNUIF .BUI.-OBNFTQBDF Q GBMMTJOUPUIF FNCFEEFEDPOUFOU Q QISBTJOHDPOUFOU Q BOE ЙPX
    DPOUFOU Q DBUFHPSJFTGPSUIFQVSQPTFTPGUIFDPOUFOUNPEFMTJOUIJTTQFDJИDBUJPO

    6TFSBHFOUTNVTUIBOEMFUFYUPUIFSUIBO JOUFSFMFNFOUXIJUFTQBDF Q GPVOEJO.BUI.-FMFNFOUTXIPTFDPOUFOU


    NPEFMTEPOPUBMMPXTUSBJHIUUFYUCZQSFUFOEJOHGPSUIFQVSQPTFTPG.BUI.-DPOUFOUNPEFMT MBZPVU BOESFOEFSJOHUIBU
    UIBUUFYUJTBDUVBMMZXSBQQFEJOBO NUFYU FMFNFOUJOUIF .BUI.-OBNFTQBDF Q  4VDIUFYUJTOPU IPXFWFS
    DPOGPSNJOH

    6TFSBHFOUTNVTUBDUBTJGBOZ.BUI.-FMFNFOUXIPTFDPOUFOUTEPFTOPUNBUDIUIFFMFNFOUTDPOUFOUNPEFMXBT
    SFQMBDFE GPSUIFQVSQPTFTPG.BUI.-MBZPVUBOESFOEFSJOH CZBO NFSSPS FMFNFOUJOUIF .BUI.-OBNFTQBDF Q
    DPOUBJOJOHTPNFBQQSPQSJBUFFSSPSNFTTBHF

    5PFOBCMFBVUIPSTUPVTF.BUI.-UPPMTUIBUPOMZBDDFQU.BUI.-JOJUT9.-GPSN JOUFSBDUJWF)5.-VTFSBHFOUTBSF
    FODPVSBHFEUPQSPWJEFBXBZUPFYQPSUBOZ.BUI.-GSBHNFOUBTBO9.-OBNFTQBDFXFMMGPSNFE9.-GSBHNFOU

    5IFTFNBOUJDTPG.BUI.-FMFNFOUTBSFEFИOFECZUIF.BUI.-TQFDJИDBUJPOBOEPUIFSSFMFWBOUTQFDJИDBUJPOT
    <."5).-> Q

    )FSFJTBOFYBNQMFPGUIFVTFPG.BUI.-JOBO)5.-EPDVNFOU

    %0$5:1&IUNM
    IUNM
    IFBE
    UJUMF5IFRVBESBUJDGPSNVMBUJUMF
    IFBE
    CPEZ
    I5IFRVBESBUJDGPSNVMBI
    Q
    NBUI
    NJYNJ
    NPNP
    NGSBD
    NSPX
    NPGPSNQSFGJY~NPNJCNJ
    NPcNP
    NTRSU
    NTVQNJCNJNONONTVQ
    NP~NP
    NONONPNPNJBNJNPNPNJDNJ
    NTRSU
    NSPX
    NSPX
    NONONPNPNJBNJ
    NSPX
    NGSBD
    NBUI
    Q
    CPEZ
    IUNM

       /2#

    5IF NQB FMFNFOUGSPNUIF 47(OBNFTQBDF Q GBMMTJOUPUIF FNCFEEFEDPOUFOU Q QISBTJOHDPOUFOU Q BOE ЙPX
    DPOUFOU Q DBUFHPSJFTGPSUIFQVSQPTFTPGUIFDPOUFOUNPEFMTJOUIJTTQFDJИDBUJPO

    
    5PFOBCMFBVUIPSTUPVTF47(UPPMTUIBUPOMZBDDFQU47(JOJUT9.-GPSN JOUFSBDUJWF)5.-VTFSBHFOUTBSFFODPVSBHFE
    UPQSPWJEFBXBZUPFYQPSUBOZ47(GSBHNFOUBTBO9.-OBNFTQBDFXFMMGPSNFE9.-GSBHNFOU

    8IFOUIF47( GPSFJHO0CKFDU FMFNFOUDPOUBJOTFMFNFOUTGSPNUIF )5.-OBNFTQBDF Q TVDIFMFNFOUTNVTUBMMCF


    ЙPXDPOUFOU Q  <47(> Q

    5IFDPOUFOUNPEFMGPS UJUMF FMFNFOUTJOUIF 47(OBNFTQBDF Q JOTJEF )5.-EPDVNFOUT Q JT QISBTJOHDPOUFOU Q 
    5IJTGVSUIFSDPOTUSBJOTUIFSFRVJSFNFOUTHJWFOJOUIF47(TQFDJИDBUJPO

    5IFTFNBOUJDTPG47(FMFNFOUTBSFEFИOFECZUIF47(TQFDJИDBUJPOBOEPUIFSSFMFWBOUTQFDJИDBUJPOT <47(> Q

    5IF47(TQFDJИDBUJPOJODMVEFTSFRVJSFNFOUTSFHBSEJOHUIFIBOEMJOHPGFMFNFOUTJOUIF%0.UIBUBSFOPUJOUIF47(
    OBNFTQBDF UIBUBSFJO47(GSBHNFOUT BOEUIBUBSFOPUJODMVEFEJOB GPSFJHO0CKFDU FMFNFOU *78B TQFDJИDBUJPOEPFT
    OPUEFИOFBOZQSPDFTTJOHGPSFMFNFOUTJO47(GSBHNFOUTUIBUBSFOPUJOUIF)5.-OBNFTQBDFUIFZBSFDPOTJEFSFE
    OFJUIFSDPOGPSNJOHOPSOPODPOGPSNJOHGSPNUIFQFSTQFDUJWFPGUIJTTQFDJИDBUJPO

       CG?HMCIH;NNLC<ON?M

    ONBILL?KOCL?G?HNM 5IF RD?OC BOE C@DBCO BUUSJCVUFTPO JNH Q JGSBNF Q FNCFE Q PCKFDU Q WJEFP Q BOE
    XIFOUIFJS UZQF Q BUUSJCVUFJTJOUIF *NBHF#VUUPO Q TUBUF JOQVU Q FMFNFOUTNBZCFTQFDJИFEUPHJWFUIF
    EJNFOTJPOTPGUIFWJTVBMDPOUFOUPGUIFFMFNFOU UIFXJEUIBOEIFJHIUSFTQFDUJWFMZ SFMBUJWFUPUIFOPNJOBMEJSFDUJPOPG
    UIFPVUQVUNFEJVN
    JO$44QJYFMT5IFBUUSJCVUFT JGTQFDJИFE NVTUIBWFWBMVFTUIBUBSF WBMJEOPOOFHBUJWF
    JOUFHFST Q 

    5IFTQFDJИFEEJNFOTJPOTHJWFONBZEJЗFSGSPNUIFEJNFOTJPOTTQFDJИFEJOUIFSFTPVSDFJUTFMG TJODFUIFSFTPVSDFNBZ
    IBWFBSFTPMVUJPOUIBUEJЗFSTGSPNUIF$44QJYFMSFTPMVUJPO 0OTDSFFOT $44QJYFMTIBWFBSFTPMVUJPOPGQQJ CVUJO
    HFOFSBMUIF$44QJYFMSFTPMVUJPOEFQFOETPOUIFSFBEJOHEJTUBODF
    *GCPUIBUUSJCVUFTBSFTQFDJИFE UIFOPOFPGUIF
    GPMMPXJOHTUBUFNFOUTNVTUCFUSVF

    Ǭ B?428P43F83C7 ˘ B?428P4374867C C0A64CA0C8> ˘ B?428P43F83C7 

    Ǭ B?428P4374867C ˘ B?428P43F83C7  C0A64CA0C8> ˘ B?428P4374867C 

    Ǭ B?428P4374867C  B?428P43F83C7 

    5IF C0A64CA0C8> JTUIFSBUJPPGUIFJOUSJOTJDXJEUIUPUIFJOUSJOTJDIFJHIUJOUIFSFTPVSDF5IF B?428P43F83C7 BOE


    B?428P4374867C BSFUIFWBMVFTPGUIF XJEUI Q BOE IFJHIU Q BUUSJCVUFTSFTQFDUJWFMZ

    5IFUXPBUUSJCVUFTNVTUCFPNJUUFEJGUIFSFTPVSDFJORVFTUJPOEPFTOPUIBWFCPUIBOJOUSJOTJDXJEUIBOEBOJOUSJOTJD
    IFJHIU

    *GUIFUXPBUUSJCVUFTBSFCPUI[FSP JUJOEJDBUFTUIBUUIFFMFNFOUJTOPUJOUFOEFEGPSUIFVTFS FHJUNJHIUCFBQBSUPGB


    TFSWJDFUPDPVOUQBHFWJFXT
    

    *HM> 0A>=BF>GLBHG:MMKB;NM>L:K>GHMBGM>G=>=MH;>NL>=MHLMK>M<AMA>BF:@>

    1M?L;A?HNL?KOCL?G?HNM6TFSBHFOUTBSFFYQFDUFEUPVTFUIFTFBUUSJCVUFT BTIJOUTGPSUIFSFOEFSJOH Q 

    5IF RD?OC BOE C@DBCO *%-BUUSJCVUFTPOUIF JGSBNF Q FNCFE Q PCKFDU Q BOE WJEFP Q FMFNFOUTNVTU SFЙFDU Q
    UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

      0;<OF;L>;N;

       0B? O<=G@ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    *OUIJTPSEFSPQUJPOBMMZB DBQUJPO Q FMFNFOU GPMMPXFECZFJUIFS[FSPPSNPSF DPMHSPVQ Q FMFNFOUT
    GPMMPXFEPQUJPOBMMZCZB UIFBE Q FMFNFOU GPMMPXFEPQUJPOBMMZCZB UGPPU Q FMFNFOU GPMMPXFECZFJUIFS
    [FSPPSNPSF UCPEZ Q FMFNFOUTPSPOFPSNPSF US Q FMFNFOUT GPMMPXFEPQUJPOBMMZCZB UGPPU Q FMFNFOU
    CVUUIFSFDBOPOMZCFPOF UGPPU Q FMFNFOUDIJMEJOUPUBM
    

    
    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    TVNNBSZ Q CVUTFFQSPTF

    +)CHN?L@;=?

    JOUFSGBDF &2+*2<=G@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF )5.-5BCMF$BQUJPO&MFNFOU DBQUJPO
    )5.-&MFNFOU DSFBUF$BQUJPO
    
    WPJE EFMFUF$BQUJPO
    
    BUUSJCVUF )5.-5BCMF4FDUJPO&MFNFOU U)FBE
    )5.-&MFNFOU DSFBUF5)FBE
    
    WPJE EFMFUF5)FBE
    
    BUUSJCVUF )5.-5BCMF4FDUJPO&MFNFOU U'PPU
    )5.-&MFNFOU DSFBUF5'PPU
    
    WPJE EFMFUF5'PPU
    
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO U#PEJFT
    )5.-&MFNFOU DSFBUF5#PEZ
    
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO SPXT
    )5.-&MFNFOU JOTFSU3PX JOPQUJPOBMMPOHJOEFY
    
    WPJE EFMFUF3PX JOMPOHJOEFY
    
    BUUSJCVUF%0.4USJOH TVNNBSZ
    ^

    5IF UBCMF Q FMFNFOU SFQSFTFOUT Q EBUBXJUINPSFUIBOPOFEJNFOTJPO JOUIFGPSNPGB UBCMF Q 

    5IF UBCMF Q FMFNFOUUBLFTQBSUJOUIF UBCMFNPEFM Q 

    5BCMFTNVTUOPUCFVTFEBTMBZPVUBJET)JTUPSJDBMMZ TPNF8FCBVUIPSTIBWFNJTVTFEUBCMFTJO)5.-BTBXBZUP
    DPOUSPMUIFJSQBHFMBZPVU5IJTVTBHFJTOPODPOGPSNJOH CFDBVTFUPPMTBUUFNQUJOHUPFYUSBDUUBCVMBSEBUBGSPNTVDI
    EPDVNFOUTXPVMEPCUBJOWFSZDPOGVTJOHSFTVMUT*OQBSUJDVMBS VTFSTPGBDDFTTJCJMJUZUPPMTMJLFTDSFFOSFBEFSTBSFMJLFMZ
    UPИOEJUWFSZEJКDVMUUPOBWJHBUFQBHFTXJUIUBCMFTVTFEGPSMBZPVU

    *HM> 0A>K>:K>:O:KB>MRH?:EM>KG:MBO>LMHNLBG@$0)(M:;E>L?HKE:RHNM IKBF:KBERNLBG@//


    IHLBMBHGBG@:G=MA>//M:;E>FH=>E

    6TFSBHFOUTUIBUEPUBCMFBOBMZTJTPOBSCJUSBSZDPOUFOUBSFFODPVSBHFEUPИOEIFVSJTUJDTUPEFUFSNJOFXIJDIUBCMFT
    BDUVBMMZDPOUBJOEBUBBOEXIJDIBSFNFSFMZCFJOHVTFEGPSMBZPVU5IJTTQFDJИDBUJPOEPFTOPUEFИOFBQSFDJTFIFVSJTUJD

    5BCMFTIBWFSPXTBOEDPMVNOTHJWFOCZUIFJSEFTDFOEBOUT"UBCMFNVTUOPUIBWFBOFNQUZSPXPSDPMVNO BT
    EFTDSJCFEJOUIFEFTDSJQUJPOPGUIF UBCMFNPEFM Q 

    'PSUBCMFTUIBUDPOTJTUPGNPSFUIBOKVTUBHSJEPGDFMMTXJUIIFBEFSTJOUIFИSTUSPXBOEIFBEFSTJOUIFИSTUDPMVNO
    BOEGPSBOZUBCMFJOHFOFSBMXIFSFUIFSFBEFSNJHIUIBWFEJКDVMUZVOEFSTUBOEJOHUIFDPOUFOU BVUIPSTTIPVMEJODMVEF
    FYQMBOBUPSZJOGPSNBUJPOJOUSPEVDJOHUIFUBCMF5IJTJOGPSNBUJPOJTVTFGVMGPSBMMVTFST CVUJTFTQFDJBMMZVTFGVMGPSVTFST
    XIPDBOOPUTFFUIFUBCMF FHVTFSTPGTDSFFOSFBEFST

    4VDIFYQMBOBUPSZJOGPSNBUJPOTIPVMEJOUSPEVDFUIFQVSQPTFPGUIFUBCMF PVUMJOFJUTCBTJDDFMMTUSVDUVSF IJHIMJHIUBOZ


    USFOETPSQBUUFSOT BOEHFOFSBMMZUFBDIUIFVTFSIPXUPVTFUIFUBCMF

    'PSJOTUBODF UIFGPMMPXJOHUBCMF

    $IBSBDUFSJTUJDTXJUIQPTJUJWFBOE
    OFHBUJWFTJEFT
    *?A;NCP? B;L;=N?LCMNC= ,IMCNCP?

    4BE )II> )BQQZ


    'BJMJOH #L;>? 1BTTJOH

    NJHIUCFOFИUGSPNBEFTDSJQUJPOFYQMBJOJOHUIFXBZUIFUBCMFJTMBJEPVU TPNFUIJOHMJLF$IBSBDUFSJTUJDTBSF
    HJWFOJOUIFTFDPOEDPMVNO XJUIUIFOFHBUJWFTJEFJOUIFMFGUDPMVNOBOEUIFQPTJUJWFTJEFJOUIFSJHIUDPMVNO

    5IFSFBSFBWBSJFUZPGXBZTUPJODMVEFUIJTJOGPSNBUJPO TVDIBT

    %HJLIM?
    MOLLIOH>CHANB?N;<F?
    Q*OUIFGPMMPXJOHUBCMF DIBSBDUFSJTUJDTBSFHJWFOJOUIFTFDPOE
    DPMVNO XJUIUIFOFHBUJWFTJEFJOUIFMFGUDPMVNOBOEUIFQPTJUJWF

    
    TJEFJOUIFSJHIUDPMVNOQ
    UBCMF
    DBQUJPO$IBSBDUFSJTUJDTXJUIQPTJUJWFBOEOFHBUJWFTJEFTDBQUJPO
    UIFBE
    US
    UIJEO/FHBUJWF
    UI$IBSBDUFSJTUJD
    UI1PTJUJWF
    UCPEZ
    US
    UEIFBEFSTOS4BE
    UIJES.PPE
    UE)BQQZ
    US
    UEIFBEFSTOS'BJMJOH
    UIJES(SBEF
    UE1BTTJOH
    UBCMF

    %HNB?N;<F?M ><KODJI K


    UBCMF
    DBQUJPO
    TUSPOH$IBSBDUFSJTUJDTXJUIQPTJUJWFBOEOFHBUJWFTJEFTTUSPOH
    Q$IBSBDUFSJTUJDTBSFHJWFOJOUIFTFDPOEDPMVNO XJUIUIF
    OFHBUJWFTJEFJOUIFMFGUDPMVNOBOEUIFQPTJUJWFTJEFJOUIFSJHIU
    DPMVNOQ
    DBQUJPO
    UIFBE
    US
    UIJEO/FHBUJWF
    UI$IBSBDUFSJTUJD
    UI1PTJUJWF
    UCPEZ
    US
    UEIFBEFSTOS4BE
    UIJES.PPE
    UE)BQQZ
    US
    UEIFBEFSTOS'BJMJOH
    UIJES(SBEF
    UE1BTTJOH
    UBCMF

    %HNB?N;<F?M ><KODJI K


    CH; ?@O<DGN K ?F?G?HN
    UBCMF
    DBQUJPO
    TUSPOH$IBSBDUFSJTUJDTXJUIQPTJUJWFBOEOFHBUJWFTJEFTTUSPOH
    EFUBJMT
    TVNNBSZ)FMQTVNNBSZ
    Q$IBSBDUFSJTUJDTBSFHJWFOJOUIFTFDPOEDPMVNO XJUIUIF
    OFHBUJWFTJEFJOUIFMFGUDPMVNOBOEUIFQPTJUJWFTJEFJOUIFSJHIU
    DPMVNOQ
    EFUBJMT
    DBQUJPO
    UIFBE
    US
    UIJEO/FHBUJWF
    UI$IBSBDUFSJTUJD
    UI1PTJUJWF
    UCPEZ
    US
    UEIFBEFSTOS4BE
    UIJES.PPE
    UE)BQQZ
    US
    UEIFBEFSTOS'BJMJOH
    UIJES(SBEF

    
    UE1BTTJOH
    UBCMF

    *?RNNINB?N;<F?
    CHNB?M;G? ADBPM@ K
    GJHVSF
    GJHDBQUJPO$IBSBDUFSJTUJDTXJUIQPTJUJWFBOEOFHBUJWFTJEFTGJHDBQUJPO
    Q$IBSBDUFSJTUJDTBSFHJWFOJOUIFTFDPOEDPMVNO XJUIUIF
    OFHBUJWFTJEFJOUIFMFGUDPMVNOBOEUIFQPTJUJWFTJEFJOUIFSJHIU
    DPMVNOQ
    UBCMF
    UIFBE
    US
    UIJEO/FHBUJWF
    UI$IBSBDUFSJTUJD
    UI1PTJUJWF
    UCPEZ
    US
    UEIFBEFSTOS4BE
    UIJES.PPE
    UE)BQQZ
    US
    UEIFBEFSTOS'BJMJOH
    UIJES(SBEF
    UE1BTTJOH
    UBCMF
    GJHVSF

    *?RNNINB?N;<F?
    CH; ADBPM@ K M ADB><KODJI K
    GJHVSF
    GJHDBQUJPO
    TUSPOH$IBSBDUFSJTUJDTXJUIQPTJUJWFBOEOFHBUJWFTJEFTTUSPOH
    Q$IBSBDUFSJTUJDTBSFHJWFOJOUIFTFDPOEDPMVNO XJUIUIF
    OFHBUJWFTJEFJOUIFMFGUDPMVNOBOEUIFQPTJUJWFTJEFJOUIFSJHIU
    DPMVNOQ
    GJHDBQUJPO
    UBCMF
    UIFBE
    US
    UIJEO/FHBUJWF
    UI$IBSBDUFSJTUJD
    UI1PTJUJWF
    UCPEZ
    US
    UEIFBEFSTOS4BE
    UIJES.PPE
    UE)BQQZ
    US
    UEIFBEFSTOS'BJMJOH
    UIJES(SBEF
    UE1BTTJOH
    UBCMF
    GJHVSF

    "VUIPSTNBZBMTPVTFPUIFSUFDIOJRVFT PSDPNCJOBUJPOTPGUIFBCPWFUFDIOJRVFT BTBQQSPQSJBUF

    5IFCFTUPQUJPO PGDPVSTF SBUIFSUIBOXSJUJOHBEFTDSJQUJPOFYQMBJOJOHUIFXBZUIFUBCMFJTMBJEPVU JTUPBEKVTUUIF


    UBCMFTVDIUIBUOPFYQMBOBUJPOJTOFFEFE

    *OUIFDBTFPGUIFUBCMFVTFEJOUIFFYBNQMFTBCPWF BTJNQMFSFBSSBOHFNFOUPGUIFUBCMFTPUIBUUIFIFBEFST
    BSFPOUIFUPQBOEMFGUTJEFTSFNPWFTUIFOFFEGPSBOFYQMBOBUJPOBTXFMMBTSFNPWJOHUIFOFFEGPSUIFVTFPG
    IFBEFST Q BUUSJCVUFT

    UBCMF
    DBQUJPO$IBSBDUFSJTUJDTXJUIQPTJUJWFBOEOFHBUJWFTJEFTDBQUJPO
    UIFBE
    US
    UI$IBSBDUFSJTUJD
    UI/FHBUJWF

    
    UI1PTJUJWF
    UCPEZ
    US
    UI.PPE
    UE4BE
    UE)BQQZ
    US
    UI(SBEF
    UE'BJMJOH
    UE1BTTJOH
    UBCMF

    5IF NPHH<MT BUUSJCVUFPO UBCMF Q FMFNFOUTXBTTVHHFTUFEJOFBSMJFSWFSTJPOTPGUIFMBOHVBHFBTBUFDIOJRVFGPS


    QSPWJEJOHFYQMBOBUPSZUFYUGPSDPNQMFYUBCMFTGPSVTFSTPGTDSFFOSFBEFST0OFPGUIF UFDIOJRVFT Q EFTDSJCFEBCPWF
    TIPVMECFVTFEJOTUFBE

    *HM> %GI:KMB<NE:K :NMAHKL:K>>G<HNK:@>=MH<HGLB=>KPA>MA>KMA>BK>QIE:G:MHKRM>QM?HKM:;E>L


    BLEBD>ERMH;>NL>?NEMHMA>OBLN:EERBFI:BK>=B?MA>BKM>QMPHNE=GHM;>NL>?NE MA>GBMBL;>LMMH
    GHMBG<EN=>: LNFF:KR I :MMKB;NM> /BFBE:KER B?MA>BK>QIE:G:MHKRM>QM<HNE=A>EILHF>HG>PAHBL
    GHMOBLN:EERBFI:BK>= > @ LHF>HG>PAHBLL>>BG@MA>M:;E>?HKMA>[KLMMBF> MA>GMA>M>QMPHNE=
    ;>FHK>NL>?NE;>?HK>MA>M:;E>HKBGMA> <:IMBHG I "HK>Q:FIE> =>L<KB;BG@MA><HG<ENLBHGLH?
    MA>=:M:BG:M:;E>BLNL>?NEMH>O>KRHG>>QIE:BGBG@AHPMHK>:=MA>M:;E> B?GHMH;OBHNL?KHFMA>
    A>:=>KL:EHG> BLNL>?NEMH>O>KRHG>=>L<KB;BG@MA>LMKN<MNK>H?MA>M:;E> B?BMBL>:LRMH@K:LI
    OBLN:EER F:RGHM;>NL>?NEMH>O>KRHG> ;NMBMFB@AM:ELHGHM;>NL>?NEMHNL>KLPAH<:GJNB<DER
    G:OB@:M>MA>M:;E>PBMA:G:<<>LLB;BEBMRMHHE

    *GB UBCMF Q FMFNFOUIBTB TVNNBSZ Q BUUSJCVUF UIFVTFSBHFOUNBZSFQPSUUIFDPOUFOUTPGUIBUBUUSJCVUFUPUIFVTFS

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    M:;E> ><KODJI 7 O:EN> 8
    3FUVSOTUIFUBCMFT DBQUJPO Q FMFNFOU
    $BOCFTFU UPSFQMBDFUIF DBQUJPO Q FMFNFOU*GUIFOFXWBMVFJTOPUB DBQUJPO Q FMFNFOU UISPXTB
    )*&3"3$):@3&26&45@&33 Q FYDFQUJPO

    <:IMBHG  M:;E> >M@<O@!<KODJI K 


    &OTVSFTUIFUBCMFIBTB DBQUJPO Q FMFNFOU BOESFUVSOTJU

    M:;E> ?@G@O@!<KODJI K 


    &OTVSFTUIFUBCMFEPFTOPUIBWFB DBQUJPO Q FMFNFOU

    M:;E> O&@<? K 7 O:EN> 8


    3FUVSOTUIFUBCMFT UIFBE Q FMFNFOU
    $BOCFTFU UPSFQMBDFUIF UIFBE Q FMFNFOU*GUIFOFXWBMVFJTOPUB UIFBE Q FMFNFOU UISPXTB
    )*&3"3$):@3&26&45@&33 Q FYDFQUJPO

    MA>:=  M:;E> >M@<O@2&@<? K 


    &OTVSFTUIFUBCMFIBTB UIFBE Q FMFNFOU BOESFUVSOTJU

    M:;E> ?@G@O@2&@<? K 


    &OTVSFTUIFUBCMFEPFTOPUIBWFB UIFBE Q FMFNFOU

    M:;E> O$JJO K 7 O:EN> 8


    3FUVSOTUIFUBCMFT UGPPU Q FMFNFOU
    $BOCFTFU UPSFQMBDFUIF UGPPU Q FMFNFOU*GUIFOFXWBMVFJTOPUB UGPPU Q FMFNFOU UISPXTB
    )*&3"3$):@3&26&45@&33 Q FYDFQUJPO

    M?HHM  M:;E> >M@<O@2$JJO K 


    &OTVSFTUIFUBCMFIBTB UGPPU Q FMFNFOU BOESFUVSOTJU

    
    M:;E> ?@G@O@2$JJO K 
    &OTVSFTUIFUBCMFEPFTOPUIBWFB UGPPU Q FMFNFOU

    M:;E> O J?D@N K


    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIF UCPEZ Q FMFNFOUTPGUIFUBCMF

    M;H=R  M:;E> >M@<O@2 J?T K 


    $SFBUFTB UCPEZ Q FMFNFOU JOTFSUTJUJOUPUIFUBCMF BOESFUVSOTJU

    M:;E> MJRN K


    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIF US Q FMFNFOUTPGUIFUBCMF

    MK  M:;E> DIN@MO0JR K BG=>Q


    $SFBUFTB US Q FMFNFOU BMPOHXJUIB UCPEZ Q JGSFRVJSFE JOTFSUTUIFNJOUPUIFUBCMFBUUIFQPTJUJPO
    HJWFOCZUIFBSHVNFOU BOESFUVSOTUIF US Q 
    5IFQPTJUJPOJTSFMBUJWFUPUIFSPXTJOUIFUBCMF5IFJOEFYʐJTFRVJWBMFOUUPJOTFSUJOHBUUIFFOEPGUIF
    UBCMF
    *GUIFHJWFOQPTJUJPOJTMFTTUIBOʐPSHSFBUFSUIBOUIFOVNCFSPGSPXT UISPXTBO */%&9@4*;&@&33 Q
    FYDFQUJPO

    M:;E> ?@G@O@0JR K BG=>Q


    3FNPWFTUIF US Q FMFNFOUXJUIUIFHJWFOQPTJUJPOJOUIFUBCMF
    5IFQPTJUJPOJTSFMBUJWFUPUIFSPXTJOUIFUBCMF5IFJOEFYʐJTFRVJWBMFOUUPEFMFUJOHUIFMBTUSPXPGUIF
    UBCMF
    *GUIFHJWFOQPTJUJPOJTMFTTUIBOʐPSHSFBUFSUIBOUIFJOEFYPGUIFMBTUSPX PSJGUIFSFBSFOPSPXT UISPXT
    BO */%&9@4*;&@&33 Q FYDFQUJPO

    5IF ><KODJI *%-BUUSJCVUFNVTUSFUVSO POHFUUJOH UIFИSTU DBQUJPO Q FMFNFOUDIJMEPGUIF UBCMF Q FMFNFOU JGBOZ
    PSOVMMPUIFSXJTF0OTFUUJOH JGUIFOFXWBMVFJTB DBQUJPO Q FMFNFOU UIFИSTU DBQUJPO Q FMFNFOUDIJMEPGUIF
    UBCMF Q FMFNFOU JGBOZ NVTUCFSFNPWFE BOEUIFOFXWBMVFNVTUCFJOTFSUFEBTUIFИSTUOPEFPGUIF UBCMF Q
    FMFNFOU*GUIFOFXWBMVFJTOPUB DBQUJPO Q FMFNFOU UIFOB )*&3"3$):@3&26&45@&33 Q %0.FYDFQUJPONVTUCF
    SBJTFEJOTUFBE

    5IF >M@<O@!<KODJI NFUIPENVTUSFUVSOUIFИSTU DBQUJPO Q FMFNFOUDIJMEPGUIF UBCMF Q FMFNFOU JGBOZ
    PUIFSXJTFBOFX DBQUJPO Q FMFNFOUNVTUCFDSFBUFE JOTFSUFEBTUIFИSTUOPEFPGUIF UBCMF Q FMFNFOU BOEUIFO
    SFUVSOFE

    5IF ?@G@O@!<KODJI NFUIPENVTUSFNPWFUIFИSTU DBQUJPO Q FMFNFOUDIJMEPGUIF UBCMF Q FMFNFOU JGBOZ

    5IF O&@<? *%-BUUSJCVUFNVTUSFUVSO POHFUUJOH UIFИSTU UIFBE Q FMFNFOUDIJMEPGUIF UBCMF Q FMFNFOU JGBOZ PS
    OVMMPUIFSXJTF0OTFUUJOH JGUIFOFXWBMVFJTB UIFBE Q FMFNFOU UIFИSTU UIFBE Q FMFNFOUDIJMEPGUIF UBCMF Q
    FMFNFOU JGBOZ NVTUCFSFNPWFE BOEUIFOFXWBMVFNVTUCFJOTFSUFEJNNFEJBUFMZCFGPSFUIFИSTUFMFNFOUJOUIF
    UBCMF Q FMFNFOUUIBUJTOFJUIFSB DBQUJPO Q FMFNFOUOPSB DPMHSPVQ Q FMFNFOU JGBOZ PSBUUIFFOEPGUIFUBCMFJG
    UIFSFBSFOPTVDIFMFNFOUT*GUIFOFXWBMVFJTOPUB UIFBE Q FMFNFOU UIFOB )*&3"3$):@3&26&45@&33 Q %0.
    FYDFQUJPONVTUCFSBJTFEJOTUFBE

    5IF >M@<O@2&@<? NFUIPENVTUSFUVSOUIFИSTU UIFBE Q FMFNFOUDIJMEPGUIF UBCMF Q FMFNFOU JGBOZPUIFSXJTFB
    OFX UIFBE Q FMFNFOUNVTUCFDSFBUFEBOEJOTFSUFEJNNFEJBUFMZCFGPSFUIFИSTUFMFNFOUJOUIF UBCMF Q FMFNFOU
    UIBUJTOFJUIFSB DBQUJPO Q FMFNFOUOPSB DPMHSPVQ Q FMFNFOU JGBOZ PSBUUIFFOEPGUIFUBCMFJGUIFSFBSFOPTVDI
    FMFNFOUT BOEUIFOUIBUOFXFMFNFOUNVTUCFSFUVSOFE

    5IF ?@G@O@2&@<? NFUIPENVTUSFNPWFUIFИSTU UIFBE Q FMFNFOUDIJMEPGUIF UBCMF Q FMFNFOU JGBOZ

    5IF O$JJO *%-BUUSJCVUFNVTUSFUVSO POHFUUJOH UIFИSTU UGPPU Q FMFNFOUDIJMEPGUIF UBCMF Q FMFNFOU JGBOZ PS
    OVMMPUIFSXJTF0OTFUUJOH JGUIFOFXWBMVFJTB UGPPU Q FMFNFOU UIFИSTU UGPPU Q FMFNFOUDIJMEPGUIF UBCMF Q
    FMFNFOU JGBOZ NVTUCFSFNPWFE BOEUIFOFXWBMVFNVTUCFJOTFSUFEJNNFEJBUFMZCFGPSFUIFИSTUFMFNFOUJOUIF
    UBCMF Q FMFNFOUUIBUJTOFJUIFSB DBQUJPO Q FMFNFOU B DPMHSPVQ Q FMFNFOU OPSB UIFBE Q FMFNFOU JGBOZ PSBU
    UIFFOEPGUIFUBCMFJGUIFSFBSFOPTVDIFMFNFOUT*GUIFOFXWBMVFJTOPUB UGPPU Q FMFNFOU UIFOB
    )*&3"3$):@3&26&45@&33 Q %0.FYDFQUJPONVTUCFSBJTFEJOTUFBE

    
    5IF >M@<O@2$JJO NFUIPENVTUSFUVSOUIFИSTU UGPPU Q FMFNFOUDIJMEPGUIF UBCMF Q FMFNFOU JGBOZPUIFSXJTFB
    OFX UGPPU Q FMFNFOUNVTUCFDSFBUFEBOEJOTFSUFEJNNFEJBUFMZCFGPSFUIFИSTUFMFNFOUJOUIF UBCMF Q FMFNFOU
    UIBUJTOFJUIFSB DBQUJPO Q FMFNFOU B DPMHSPVQ Q FMFNFOU OPSB UIFBE Q FMFNFOU JGBOZ PSBUUIFFOEPGUIF
    UBCMFJGUIFSFBSFOPTVDIFMFNFOUT BOEUIFOUIBUOFXFMFNFOUNVTUCFSFUVSOFE

    5IF ?@G@O@2$JJO NFUIPENVTUSFNPWFUIFИSTU UGPPU Q FMFNFOUDIJMEPGUIF UBCMF Q FMFNFOU JGBOZ

    5IF O J?D@N BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF UBCMF Q OPEF XIPTFИMUFSNBUDIFTPOMZ
    UCPEZ Q FMFNFOUTUIBUBSFDIJMESFOPGUIF UBCMF Q FMFNFOU

    5IF >M@<O@2 J?T NFUIPENVTUDSFBUFBOFX UCPEZ Q FMFNFOU JOTFSUJUJNNFEJBUFMZBGUFSUIFMBTU UCPEZ Q
    FMFNFOUJOUIF UBCMF Q FMFNFOU JGBOZ PSBUUIFFOEPGUIF UBCMF Q FMFNFOUJGUIF UBCMF Q FMFNFOUIBTOP
    UCPEZ Q FMFNFOUDIJMESFO BOEUIFONVTUSFUVSOUIFOFX UCPEZ Q FMFNFOU

    5IF MJRN BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF UBCMF Q OPEF XIPTFИMUFSNBUDIFTPOMZ US Q
    FMFNFOUTUIBUBSFFJUIFSDIJMESFOPGUIF UBCMF Q FMFNFOU PSDIJMESFOPG UIFBE Q UCPEZ Q PS UGPPU Q FMFNFOUT
    UIBUBSFUIFNTFMWFTDIJMESFOPGUIF UBCMF Q FMFNFOU5IFFMFNFOUTJOUIFDPMMFDUJPONVTUCFPSEFSFETVDIUIBUUIPTF
    FMFNFOUTXIPTFQBSFOUJTB UIFBE Q BSFJODMVEFEИSTU JOUSFFPSEFS GPMMPXFECZUIPTFFMFNFOUTXIPTFQBSFOUJT
    FJUIFSB UBCMF Q PS UCPEZ Q FMFNFOU BHBJOJOUSFFPSEFS GPMMPXFEИOBMMZCZUIPTFFMFNFOUTXIPTFQBSFOUJTB
    UGPPU Q FMFNFOU TUJMMJOUSFFPSEFS

    5IFCFIBWJPSPGUIF DIN@MO0JRBG=>Q NFUIPEEFQFOETPOUIFTUBUFPGUIFUBCMF8IFOJUJTDBMMFE UIFNFUIPENVTU


    BDUBTSFRVJSFECZUIFИSTUJUFNJOUIFGPMMPXJOHMJTUPGDPOEJUJPOTUIBUEFTDSJCFTUIFTUBUFPGUIFUBCMFBOEUIF 8=34G
    BSHVNFOU
    K
    X %@ BG=>Q CMF?MMNB;HZILAL?;N?LNB;HNB?HOG<?LI@?F?G?HNMCH MJRN =IFF?=NCIH
    5IFNFUIPENVTUSBJTFBO */%&9@4*;&@&33 Q FYDFQUJPO
    K
    X %@NB? MJRN =IFF?=NCIHB;MT?LI?F?G?HNMCHCN
    ;H>NB? O<=G@ K B;MHI O=J?T K ?F?G?HNMCHCN
    5IFNFUIPENVTUDSFBUFB UCPEZ Q FMFNFOU UIFODSFBUFB US Q FMFNFOU UIFOBQQFOEUIF US Q FMFNFOU
    UPUIF UCPEZ Q FMFNFOU UIFOBQQFOEUIF UCPEZ Q FMFNFOUUPUIF UBCMF Q FMFNFOU BOEИOBMMZSFUVSOUIF
    US Q FMFNFOU
    K
    X %@NB? MJRN =IFF?=NCIHB;MT?LI?F?G?HNMCHCN
    5IFNFUIPENVTUDSFBUFB US Q FMFNFOU BQQFOEJUUPUIFMBTU UCPEZ Q FMFNFOUJOUIFUBCMF BOESFUVSOUIF
    US Q FMFNFOU
    K
    X %@ BG=>Q CMGCMMCHA
    ?KO;FNIZ
    IL?KO;FNINB?HOG<?LI@CN?GMCH MJRN =IFF?=NCIH
    5IFNFUIPENVTUDSFBUFB US Q FMFNFOU BOEBQQFOEJUUPUIFQBSFOUPGUIFMBTU US Q FMFNFOUJOUIF
    SPXT Q DPMMFDUJPO5IFO UIFOFXMZDSFBUFE US Q FMFNFOUNVTUCFSFUVSOFE

    X +NB?LQCM?
    5IFNFUIPENVTUDSFBUFB US Q FMFNFOU JOTFSUJUJNNFEJBUFMZCFGPSFUIF 8=34GUI US Q FMFNFOUJOUIF
    SPXT Q DPMMFDUJPO JOUIFTBNFQBSFOU BOEИOBMMZNVTUSFUVSOUIFOFXMZDSFBUFE US Q FMFNFOU

    8IFOUIF ?@G@O@0JRBG=>Q NFUIPEJTDBMMFE UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     *G 8=34G JTFRVBMUPʐ UIFO 8=34G NVTUCFTFUUPUIFOVNCFSJGJUFNTJOUIF SPXT Q DPMMFDUJPO NJOVTPOF

     /PX JG 8=34G JTMFTTUIBO[FSP PSHSFBUFSUIBOPSFRVBMUPUIFOVNCFSPGFMFNFOUTJOUIF SPXT Q DPMMFDUJPO


    UIFNFUIPENVTUJOTUFBESBJTFBO */%&9@4*;&@&33 Q FYDFQUJPO BOEUIFTFTUFQTNVTUCFBCPSUFE

     0UIFSXJTF UIFNFUIPENVTUSFNPWFUIF 8=34GUIFMFNFOUJOUIF SPXT Q DPMMFDUJPOGSPNJUTQBSFOU

    5IF NPHH<MT *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

       0B? ><KODJI ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TUIFИSTUFMFNFOUDIJMEPGB UBCMF Q FMFNFOU

    IHN?HNGI>?F
    'MPXDPOUFOU Q CVUXJUIOPEFTDFOEBOU UBCMF Q FMFNFOUT

    
    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*2<=G@!<KODJI#G@H@IO  )5.-&MFNFOU \^

    5IF DBQUJPO Q FMFNFOU SFQSFTFOUT Q UIFUJUMFPGUIF UBCMF Q UIBUJTJUTQBSFOU JGJUIBTBQBSFOUBOEUIBUJTB
    UBCMF Q FMFNFOU

    5IF DBQUJPO Q FMFNFOUUBLFTQBSUJOUIF UBCMFNPEFM Q 

    8IFOB UBCMF Q FMFNFOUJTUIFPOMZDPOUFOUJOB GJHVSF Q FMFNFOUPUIFSUIBOUIF GJHDBQUJPO Q UIF DBQUJPO Q
    FMFNFOUTIPVMECFPNJUUFEJOGBWPSPGUIF GJHDBQUJPO Q 

    "DBQUJPODBOJOUSPEVDFDPOUFYUGPSBUBCMF NBLJOHJUTJHOJИDBOUMZFBTJFSUPVOEFSTUBOE

    $POTJEFS GPSJOTUBODF UIFGPMMPXJOHUBCMF

         
          
          
          
          
         
        

    *OUIFBCTUSBDU UIJTUBCMFJTOPUDMFBS)PXFWFS XJUIBDBQUJPOHJWJOHUIFUBCMFTOVNCFS GPSSFGFSFODFJOUIF


    NBJOQSPTF
    BOEFYQMBJOJOHJUTVTF JUNBLFTNPSFTFOTF

    DBQUJPO
    Q5BCMF
    Q5IJTUBCMFTIPXTUIFUPUBMTDPSFPCUBJOFEGSPNSPMMJOHUXP
    TJYTJEFEEJDF5IFGJSTUSPXSFQSFTFOUTUIFWBMVFPGUIFGJSTUEJF
    UIFGJSTUDPMVNOUIFWBMVFPGUIFTFDPOEEJF5IFUPUBMJTHJWFOJO
    UIFDFMMUIBUDPSSFTQPOETUPUIFWBMVFTPGUIFUXPEJDF
    DBQUJPO

    5IJTQSPWJEFTUIFVTFSXJUINPSFDPOUFYU

    *01;4

    *78BC01;4B7>FBC74C>C0;B2>A4>1C08=435A><A>;;8=6CF>
    B8GB83433824 *74PABCA>FA4?A4B4=CBC74E0;D4>5C74PABC
    384C74PABC2>;D<=C74E0;D4>5C74B42>=3384 *74C>C0;
    8B68E4=8=C7424;;C70C2>AA4B?>=3BC>C74E0;D4B>5C74
    CF>3824

         
          
          
          
          
         
        

       0B? >JGBMJPK ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB UBCMF Q FMFNFOU BGUFSBOZ DBQUJPO Q FMFNFOUTBOECFGPSFBOZ UIFBE Q UCPEZ Q
    UGPPU Q BOE US Q FMFNFOUT

    IHN?HNGI>?F
    *GUIF TQBO Q BUUSJCVUFJTQSFTFOU&NQUZ
    *GUIF TQBO Q BUUSJCVUFJTBCTFOU;FSPPSNPSF DPM Q FMFNFOUT

    
    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    TQBO Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*2<=G@!JG#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFVOTJHOFEMPOH TQBO
    ^

    5IF DPMHSPVQ Q FMFNFOU SFQSFTFOUT Q B HSPVQ Q PGPOFPSNPSF DPMVNOT Q JOUIF UBCMF Q UIBUJTJUTQBSFOU JGJU
    IBTBQBSFOUBOEUIBUJTB UBCMF Q FMFNFOU

    *GUIF DPMHSPVQ Q FMFNFOUDPOUBJOTOP DPM Q FMFNFOUT UIFOUIFFMFNFOUNBZIBWFB NK<I DPOUFOUBUUSJCVUF
    TQFDJИFE XIPTFWBMVFNVTUCFB WBMJEOPOOFHBUJWFJOUFHFS Q HSFBUFSUIBO[FSP

    5IF DPMHSPVQ Q FMFNFOUBOEJUT TQBO Q BUUSJCVUFUBLFQBSUJOUIF UBCMFNPEFM Q 

    5IF NK<I *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF5IFWBMVFNVTUCF MJNJUFEUPPOMZOPO


    OFHBUJWFOVNCFSTHSFBUFSUIBO[FSP Q 

       0B? >JG ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB DPMHSPVQ Q FMFNFOUUIBUEPFTOUIBWFB TQBO Q BUUSJCVUF

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    TQBO Q

    +)CHN?L@;=?
    )5.-5BCMF$PM&MFNFOU Q TBNFBTGPS DPMHSPVQ Q FMFNFOUT5IJTJOUFSGBDFEFИOFTPOFNFNCFS TQBO Q 

    *GB DPM Q FMFNFOUIBTBQBSFOUBOEUIBUJTB DPMHSPVQ Q FMFNFOUUIBUJUTFMGIBTBQBSFOUUIBUJTB UBCMF Q


    FMFNFOU UIFOUIF DPM Q FMFNFOU SFQSFTFOUT Q POFPSNPSF DPMVNOT Q JOUIF DPMVNOHSPVQ Q SFQSFTFOUFECZUIBU
    DPMHSPVQ Q 

    5IFFMFNFOUNBZIBWFB NK<I DPOUFOUBUUSJCVUFTQFDJИFE XIPTFWBMVFNVTUCFB WBMJEOPOOFHBUJWFJOUFHFS Q


    HSFBUFSUIBO[FSP

    5IF DPM Q FMFNFOUBOEJUT TQBO Q BUUSJCVUFUBLFQBSUJOUIF UBCMFNPEFM Q 

    5IF NK<I *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF5IFWBMVFNVTUCF MJNJUFEUPPOMZOPO


    OFHBUJWFOVNCFSTHSFBUFSUIBO[FSP Q 

       0B? O=J?T ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB UBCMF Q FMFNFOU BGUFSBOZ DBQUJPO Q DPMHSPVQ Q BOE UIFBE Q FMFNFOUT CVUPOMZJG
    UIFSFBSFOP US Q FMFNFOUTUIBUBSFDIJMESFOPGUIF UBCMF Q FMFNFOU

    IHN?HNGI>?F
    ;FSPPSNPSF US Q FMFNFOUT

    
    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*2<=G@1@>ODJI#G@H@IO  )5.-&MFNFOU \


    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO SPXT
    )5.-&MFNFOU JOTFSU3PX JOPQUJPOBMMPOHJOEFY
    
    WPJE EFMFUF3PX JOMPOHJOEFY
    
    ^
    5IF )5.-5BCMF4FDUJPO&MFNFOU Q JOUFSGBDFJTBMTPVTFEGPS UIFBE Q BOE UGPPU Q FMFNFOUT

    5IF UCPEZ Q FMFNFOU SFQSFTFOUT Q B CMPDL Q PG SPXT Q UIBUDPOTJTUPGBCPEZPGEBUBGPSUIFQBSFOU UBCMF Q
    FMFNFOU JGUIF UCPEZ Q FMFNFOUIBTBQBSFOUBOEJUJTB UBCMF Q 

    5IF UCPEZ Q FMFNFOUUBLFTQBSUJOUIF UBCMFNPEFM Q 

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    M;H=R MJRN
    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIF US Q FMFNFOUTPGUIFUBCMFTFDUJPO

    MK  M;H=R DIN@MO0JR K 7 BG=>Q 8


    $SFBUFTB US Q FMFNFOU JOTFSUTJUJOUPUIFUBCMFTFDUJPOBUUIFQPTJUJPOHJWFOCZUIFBSHVNFOU BOE
    SFUVSOTUIF US Q 
    5IFQPTJUJPOJTSFMBUJWFUPUIFSPXTJOUIFUBCMFTFDUJPO5IFJOEFYʐ XIJDIJTUIFEFGBVMUJGUIFBSHVNFOU
    JTPNJUUFE JTFRVJWBMFOUUPJOTFSUJOHBUUIFFOEPGUIFUBCMFTFDUJPO
    *GUIFHJWFOQPTJUJPOJTMFTTUIBOʐPSHSFBUFSUIBOUIFOVNCFSPGSPXT UISPXTBO */%&9@4*;&@&33 Q
    FYDFQUJPO

    M;H=R ?@G@O@0JR K BG=>Q


    3FNPWFTUIF US Q FMFNFOUXJUIUIFHJWFOQPTJUJPOJOUIFUBCMFTFDUJPO
    5IFQPTJUJPOJTSFMBUJWFUPUIFSPXTJOUIFUBCMFTFDUJPO5IFJOEFYʐJTFRVJWBMFOUUPEFMFUJOHUIFMBTUSPX
    PGUIFUBCMFTFDUJPO
    *GUIFHJWFOQPTJUJPOJTMFTTUIBOʐPSHSFBUFSUIBOUIFJOEFYPGUIFMBTUSPX PSJGUIFSFBSFOPSPXT UISPXT
    BO */%&9@4*;&@&33 Q FYDFQUJPO

    5IF MJRN BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIFFMFNFOU XIPTFИMUFSNBUDIFTPOMZ US Q


    FMFNFOUTUIBUBSFDIJMESFOPGUIFFMFNFOU

    5IF DIN@MO0JRBG=>Q NFUIPENVTU XIFOJOWPLFEPOBOFMFNFOU C01;4B42C8>= BDUBTGPMMPXT

    *G 8=34G JTMFTTUIBOʐPSHSFBUFSUIBOUIFOVNCFSPGFMFNFOUTJOUIF SPXT Q DPMMFDUJPO UIFNFUIPENVTUSBJTFBO


    */%&9@4*;&@&33 Q FYDFQUJPO

    *G 8=34G JTNJTTJOH FRVBMUPʐ PSFRVBMUPUIFOVNCFSPGJUFNTJOUIF SPXT Q DPMMFDUJPO UIFNFUIPENVTUDSFBUFB


    US Q FMFNFOU BQQFOEJUUPUIFFMFNFOU C01;4B42C8>= BOESFUVSOUIFOFXMZDSFBUFE US Q FMFNFOU

    0UIFSXJTF UIFNFUIPENVTUDSFBUFB US Q FMFNFOU JOTFSUJUBTBDIJMEPGUIF C01;4B42C8>= FMFNFOU JNNFEJBUFMZ


    CFGPSFUIF 8=34GUI US Q FMFNFOUJOUIF SPXT Q DPMMFDUJPO BOEИOBMMZNVTUSFUVSOUIFOFXMZDSFBUFE US Q FMFNFOU

    5IF ?@G@O@0JRBG=>Q NFUIPENVTUSFNPWFUIF 8=34GUIFMFNFOUJOUIF SPXT Q DPMMFDUJPOGSPNJUTQBSFOU*G 8=34G JT


    MFTTUIBO[FSPPSHSFBUFSUIBOPSFRVBMUPUIFOVNCFSPGFMFNFOUTJOUIF SPXT Q DPMMFDUJPO UIFNFUIPENVTUJOTUFBE
    SBJTFBO */%&9@4*;&@&33 Q FYDFQUJPO

       0B? OC@<? ?F?G?HN

    ;N?AILC?M
    /POF

    
    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB UBCMF Q FMFNFOU BGUFSBOZ DBQUJPO Q BOE DPMHSPVQ Q FMFNFOUTBOECFGPSFBOZ
    UCPEZ Q UGPPU Q BOE US Q FMFNFOUT CVUPOMZJGUIFSFBSFOPPUIFS UIFBE Q FMFNFOUTUIBUBSFDIJMESFO
    PGUIF UBCMF Q FMFNFOU

    IHN?HNGI>?F
    ;FSPPSNPSF US Q FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    )5.-5BCMF4FDUJPO&MFNFOU Q BTEFИOFEGPS UCPEZ Q FMFNFOUT

    5IF UIFBE Q FMFNFOU SFQSFTFOUT Q UIF CMPDL Q PG SPXT Q UIBUDPOTJTUPGUIFDPMVNOMBCFMT IFBEFST
    GPSUIF
    QBSFOU UBCMF Q FMFNFOU JGUIF UIFBE Q FMFNFOUIBTBQBSFOUBOEJUJTB UBCMF Q 

    5IF UIFBE Q FMFNFOUUBLFTQBSUJOUIF UBCMFNPEFM Q 

       0B? OAJJO ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB UBCMF Q FMFNFOU BGUFSBOZ DBQUJPO Q DPMHSPVQ Q BOE UIFBE Q FMFNFOUTBOECFGPSF
    BOZ UCPEZ Q BOE US Q FMFNFOUT CVUPOMZJGUIFSFBSFOPPUIFS UGPPU Q FMFNFOUTUIBUBSFDIJMESFOPGUIF
    UBCMF Q FMFNFOU
    "TBDIJMEPGB UBCMF Q FMFNFOU BGUFSBOZ DBQUJPO Q DPMHSPVQ Q UIFBE Q UCPEZ Q BOE US Q
    FMFNFOUT CVUPOMZJGUIFSFBSFOPPUIFS UGPPU Q FMFNFOUTUIBUBSFDIJMESFOPGUIF UBCMF Q FMFNFOU

    IHN?HNGI>?F
    ;FSPPSNPSF US Q FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?
    )5.-5BCMF4FDUJPO&MFNFOU Q BTEFИOFEGPS UCPEZ Q FMFNFOUT

    5IF UGPPU Q FMFNFOU SFQSFTFOUT Q UIF CMPDL Q PG SPXT Q UIBUDPOTJTUPGUIFDPMVNOTVNNBSJFT GPPUFST
    GPSUIF
    QBSFOU UBCMF Q FMFNFOU JGUIF UGPPU Q FMFNFOUIBTBQBSFOUBOEJUJTB UBCMF Q 

    5IF UGPPU Q FMFNFOUUBLFTQBSUJOUIF UBCMFNPEFM Q 

       0B? OM ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB UIFBE Q FMFNFOU
    "TBDIJMEPGB UCPEZ Q FMFNFOU
    "TBDIJMEPGB UGPPU Q FMFNFOU
    "TBDIJMEPGB UBCMF Q FMFNFOU BGUFSBOZ DBQUJPO Q DPMHSPVQ Q BOE UIFBE Q FMFNFOUT CVUPOMZJG
    UIFSFBSFOP UCPEZ Q FMFNFOUTUIBUBSFDIJMESFOPGUIF UBCMF Q FMFNFOU

    IHN?HNGI>?F
    8IFOUIFQBSFOUOPEFJTB UIFBE Q FMFNFOU;FSPPSNPSF UI Q FMFNFOUT
    0UIFSXJTF;FSPPSNPSF UE Q PS UI Q FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    
    +)CHN?L@;=?

    JOUFSGBDF &2+*2<=G@0JR#G@H@IO  )5.-&MFNFOU \


    SFBEPOMZBUUSJCVUFMPOH SPX*OEFY
    SFBEPOMZBUUSJCVUFMPOH TFDUJPO3PX*OEFY
    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO DFMMT
    )5.-&MFNFOU JOTFSU$FMM JOPQUJPOBMMPOHJOEFY
    
    WPJE EFMFUF$FMM JOMPOHJOEFY
    
    ^

    5IF US Q FMFNFOU SFQSFTFOUT Q B SPX Q PG DFMMT Q JOB UBCMF Q 

    5IF US Q FMFNFOUUBLFTQBSUJOUIF UBCMFNPEFM Q 

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    MK MJR'I?@S K
    3FUVSOTUIFQPTJUJPOPGUIFSPXJOUIFUBCMFT SPXT Q MJTU
    3FUVSOTʐJGUIFFMFNFOUJTOUJOBUBCMF

    MK N@>ODJI0JR'I?@S K
    3FUVSOTUIFQPTJUJPOPGUIFSPXJOUIFUBCMFTFDUJPOT SPXT Q MJTU
    3FUVSOTʐJGUIFFMFNFOUJTOUJOBUBCMFTFDUJPO

    MK >@GGN K
    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIF UE Q BOE UI Q FMFNFOUTPGUIFSPX

    <>EE  MK DIN@MO!@GG K 7 BG=>Q 8


    $SFBUFTB UE Q FMFNFOU JOTFSUTJUJOUPUIFUBCMFSPXBUUIFQPTJUJPOHJWFOCZUIFBSHVNFOU BOESFUVSOT
    UIF UE Q 
    5IFQPTJUJPOJTSFMBUJWFUPUIFDFMMTJOUIFSPX5IFJOEFYʐ XIJDIJTUIFEFGBVMUJGUIFBSHVNFOUJT
    PNJUUFE JTFRVJWBMFOUUPJOTFSUJOHBUUIFFOEPGUIFSPX
    *GUIFHJWFOQPTJUJPOJTMFTTUIBOʐPSHSFBUFSUIBOUIFOVNCFSPGDFMMT UISPXTBO */%&9@4*;&@&33 Q
    FYDFQUJPO

    MK ?@G@O@!@GG K BG=>Q


    3FNPWFTUIF UE Q PS UI Q FMFNFOUXJUIUIFHJWFOQPTJUJPOJOUIFSPX
    5IFQPTJUJPOJTSFMBUJWFUPUIFDFMMTJOUIFSPX5IFJOEFYʐJTFRVJWBMFOUUPEFMFUJOHUIFMBTUDFMMPGUIF
    SPX
    *GUIFHJWFOQPTJUJPOJTMFTTUIBOʐPSHSFBUFSUIBOUIFJOEFYPGUIFMBTUDFMM PSJGUIFSFBSFOPDFMMT UISPXT
    BO */%&9@4*;&@&33 Q FYDFQUJPO

    5IF MJR'I?@S BUUSJCVUFNVTU JGUIFFMFNFOUIBTBQBSFOU UBCMF Q FMFNFOU PSBQBSFOU UCPEZ Q UIFBE Q PS
    UGPPU Q FMFNFOUBOEB 6A0=3?0A4=C UBCMF Q FMFNFOU SFUVSOUIFJOEFYPGUIF US Q FMFNFOUJOUIBU UBCMF Q
    FMFNFOUT SPXT Q DPMMFDUJPO*GUIFSFJTOPTVDI UBCMF Q FMFNFOU UIFOUIFBUUSJCVUFNVTUSFUVSOʐ

    5IF N@>ODJI0JR'I?@S BUUSJCVUFNVTU JGUIFFMFNFOUIBTBQBSFOU UBCMF Q UCPEZ Q UIFBE Q PS UGPPU Q FMFNFOU
    SFUVSOUIFJOEFYPGUIF US Q FMFNFOUJOUIFQBSFOUFMFNFOUT SPXT DPMMFDUJPO GPSUBCMFT UIBUTUIF
    )5.-5BCMF&MFNFOUSPXT Q DPMMFDUJPOGPSUBCMFTFDUJPOT UIBUTUIF )5.-5BCMF3PX&MFNFOUSPXT Q DPMMFDUJPO
    *G
    UIFSFJTOPTVDIQBSFOUFMFNFOU UIFOUIFBUUSJCVUFNVTUSFUVSOʐ

    5IF >@GGN BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF US Q FMFNFOU XIPTFИMUFSNBUDIFTPOMZ UE Q
    BOE UI Q FMFNFOUTUIBUBSFDIJMESFOPGUIF US Q FMFNFOU

    5IF DIN@MO!@GGBG=>Q NFUIPENVTUBDUBTGPMMPXT

    *G 8=34G JTMFTTUIBOʐPSHSFBUFSUIBOUIFOVNCFSPGFMFNFOUTJOUIF DFMMT Q DPMMFDUJPO UIFNFUIPENVTUSBJTFBO


    */%&9@4*;&@&33 Q FYDFQUJPO

    
    *G 8=34G JTNJTTJOH FRVBMUPʐ PSFRVBMUPUIFOVNCFSPGJUFNTJO DFMMT Q DPMMFDUJPO UIFNFUIPENVTUDSFBUFB
    UE Q FMFNFOU BQQFOEJUUPUIF US Q FMFNFOU BOESFUVSOUIFOFXMZDSFBUFE UE Q FMFNFOU

    0UIFSXJTF UIFNFUIPENVTUDSFBUFB UE Q FMFNFOU JOTFSUJUBTBDIJMEPGUIF US Q FMFNFOU JNNFEJBUFMZCFGPSFUIF


    8=34GUI UE Q PS UI Q FMFNFOUJOUIF DFMMT Q DPMMFDUJPO BOEИOBMMZNVTUSFUVSOUIFOFXMZDSFBUFE UE Q FMFNFOU

    5IF ?@G@O@!@GGBG=>Q NFUIPENVTUSFNPWFUIF 8=34GUIFMFNFOUJOUIF DFMMT Q DPMMFDUJPOGSPNJUTQBSFOU*G 8=34G


    JTMFTTUIBO[FSPPSHSFBUFSUIBOPSFRVBMUPUIFOVNCFSPGFMFNFOUTJOUIF DFMMT Q DPMMFDUJPO UIFNFUIPENVTU
    JOTUFBESBJTFBO */%&9@4*;&@&33 Q FYDFQUJPO

       0B? O? ?F?G?HN

    ;N?AILC?M
    4FDUJPOJOHSPPU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB US Q FMFNFOU

    IHN?HNGI>?F
    'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    DPMTQBO Q
    SPXTQBO Q
    IFBEFST Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*2<=G@"<O<!@GG#G@H@IO  )5.-5BCMF$FMM&MFNFOU \^

    5IF UE Q FMFNFOU SFQSFTFOUT Q BEBUB DFMM Q JOBUBCMF

    5IF UE Q FMFNFOUBOEJUT DPMTQBO Q SPXTQBO Q BOE IFBEFST Q BUUSJCVUFTUBLFQBSUJOUIF UBCMFNPEFM Q 

       0B? OC ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB US Q FMFNFOU

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    DPMTQBO Q
    SPXTQBO Q
    IFBEFST Q
    TDPQF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*2<=G@&@<?@M!@GG#G@H@IO  )5.-5BCMF$FMM&MFNFOU \


    BUUSJCVUF%0.4USJOH TDPQF
    ^

    5IF UI Q FMFNFOU SFQSFTFOUT Q BIFBEFS DFMM Q JOBUBCMF

    5IF UI Q FMFNFOUNBZIBWFB N>JK@ DPOUFOUBUUSJCVUFTQFDJИFE5IF TDPQF Q BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q
    XJUIИWFTUBUFT GPVSPGXIJDIIBWFFYQMJDJULFZXPSET

    0B? KHP E?SQIL>


    QBC=BG;JMNINB? KHP MN;N?
    5IF A>F TUBUFNFBOTUIFIFBEFSDFMMBQQMJFTUPTPNFPGUIFTVCTFRVFOUDFMMTJOUIFTBNFSPX T
    

    
    0B? <HE E?SQIL>
    QBC=BG;JMNINB? <HENFG MN;N?
    5IF 2>;D<= TUBUFNFBOTUIFIFBEFSDFMMBQQMJFTUPTPNFPGUIFTVCTFRVFOUDFMMTJOUIFTBNFDPMVNO T
    

    0B? KHP@KHNI E?SQIL>


    QBC=BG;JMNINB? KHP@KHNI MN;N?
    5IF A>F6A>D? TUBUFNFBOTUIFIFBEFSDFMMBQQMJFTUPBMMUIFSFNBJOJOHDFMMTJOUIFSPXHSPVQ" UI Q FMFNFOUT
    TDPQF Q BUUSJCVUFNVTUOPUCFJOUIF SPXHSPVQ Q TUBUFJGUIFFMFNFOUJTOPUBODIPSFEJOB SPXHSPVQ Q 

    0B? <HE@KHNI E?SQIL>


    QBC=BG;JMNINB? <HENFG@KHNI MN;N?
    5IF 2>;D<=6A>D? TUBUFNFBOTUIFIFBEFSDFMMBQQMJFTUPBMMUIFSFNBJOJOHDFMMTJOUIFDPMVNOHSPVQ" UI Q
    FMFNFOUT TDPQF Q BUUSJCVUFNVTUOPUCFJOUIF DPMVNOHSPVQ Q TUBUFJGUIFFMFNFOUJTOPUBODIPSFEJOB
    DPMVNOHSPVQ Q 

    0B? :NMH MN;N?


    5IF 0DC> TUBUFNBLFTUIFIFBEFSDFMMBQQMZUPBTFUPGDFMMTTFMFDUFECBTFEPODPOUFYU

    5IF TDPQF Q BUUSJCVUFT <8BB8=6E0;D43450D;C JTUIF 0DC> TUBUF

    5IF UI Q FMFNFOUBOEJUT DPMTQBO Q SPXTQBO Q IFBEFST Q BOE TDPQF Q BUUSJCVUFTUBLFQBSUJOUIF UBCMF
    NPEFM Q 

    5IF N>JK@ *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    5IFGPMMPXJOHFYBNQMFTIPXTIPXUIF TDPQF Q BUUSJCVUFT SPXHSPVQ Q WBMVFBЗFDUTXIJDIEBUBDFMMTBIFBEFS


    DFMMBQQMJFTUP

    )FSFJTBNBSLVQGSBHNFOUTIPXJOHBUBCMF

    UBCMF
    UIFBE
    USUI*%UI.FBTVSFNFOUUI"WFSBHFUI.BYJNVN
    UCPEZ
    USUEUITDPQFSPXHSPVQ$BUTUEUE
    USUEUI-FHTUEUE
    USUEUI5BJMTUEUE
    UCPEZ
    USUEUITDPQFSPXHSPVQ&OHMJTITQFBLFSTUEUE
    USUEUI-FHTUEUE
    USUEUI5BJMTUEUE
    UBCMF

    5IJTXPVMESFTVMUJOUIFGPMMPXJOHUBCMF

    % )?;MOL?G?HN P?L;A? );RCGOG

    ;NM
     (?AM  
     0;CFM  
    !HAFCMBMJ?;E?LM
     (?AM  
     0;CFM  

    5IFIFBEFSTJOUIFИSTUSPXBMMBQQMZEJSFDUMZEPXOUPUIFSPXTJOUIFJSDPMVNO

    5IFIFBEFSTXJUIUIFFYQMJDJU TDPQF Q BUUSJCVUFTBQQMZUPBMMUIFDFMMTJOUIFJSSPXHSPVQPUIFSUIBOUIFDFMMTJO


    UIFИSTUDPMVNO

    5IFSFNBJOJOHIFBEFSTBQQMZKVTUUPUIFDFMMTUPUIFSJHIUPGUIFN

    
       NNLC<ON?M=IGGIHNI O? K ;H> OC K ?F?G?HNM

    5IF UE Q BOE UI Q FMFNFOUTNBZIBWFB >JGNK<I DPOUFOUBUUSJCVUFTQFDJИFE XIPTFWBMVFNVTUCFB WBMJEOPO


    OFHBUJWFJOUFHFS Q HSFBUFSUIBO[FSP

    5IF UE Q BOE UI Q FMFNFOUTNBZBMTPIBWFB MJRNK<I DPOUFOUBUUSJCVUFTQFDJИFE XIPTFWBMVFNVTUCFB WBMJEOPO


    OFHBUJWFJOUFHFS Q 

    5IFTFBUUSJCVUFTHJWFUIFOVNCFSPGDPMVNOTBOESPXTSFTQFDUJWFMZUIBUUIFDFMMJTUPTQBO5IFTFBUUSJCVUFTNVTUOPU
    CFVTFEUPPWFSMBQDFMMT BTEFTDSJCFEJOUIFEFTDSJQUJPOPGUIF UBCMFNPEFM Q 

    5IF UE Q BOE UI Q FMFNFOUNBZIBWFB C@<?@MN DPOUFOUBUUSJCVUFTQFDJИFE5IF IFBEFST Q BUUSJCVUF JGTQFDJИFE
    NVTUDPOUBJOBTUSJOHDPOTJTUJOHPGBO VOPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFEUPLFOT Q FBDIPGXIJDINVTUIBWF
    UIFWBMVFPGBO*%PGB UI Q FMFNFOUUBLJOHQBSUJOUIFTBNF UBCMF Q BTUIF UE Q PS UI Q FMFNFOU BTEFИOFECZ
    UIF UBCMFNPEFM Q
    

    " UI Q FMFNFOUXJUI*% 83 JTTBJEUPCF 38A42C;HC0A64C43 CZBMM UE Q BOE UI Q FMFNFOUTJOUIFTBNF UBCMF Q UIBU
    IBWF IFBEFST Q BUUSJCVUFTXIPTFWBMVFTJODMVEFBTPOFPGUIFJSUPLFOTUIF*% 83" UI Q FMFNFOU  JTTBJEUPCF
    C0A64C43 CZB UI Q PS UE Q FMFNFOU  JGFJUIFS  JT 38A42C;HC0A64C43 CZ  PSJGUIFSFFYJTUTBOFMFNFOU  UIBUJTJUTFMG
    C0A64C43 CZUIFFMFNFOU  BOE  JT 38A42C;HC0A64C43 CZ 

    " UI Q FMFNFOUNVTUOPUCF C0A64C43 CZJUTFMG

    5IF DPMTQBO Q SPXTQBO Q BOE IFBEFST Q BUUSJCVUFTUBLFQBSUJOUIF UBCMFNPEFM Q 

    5IF UE Q BOE UI Q FMFNFOUTJNQMFNFOUJOUFSGBDFTUIBUJOIFSJUGSPNUIF )5.-5BCMF$FMM&MFNFOU Q JOUFSGBDF

    JOUFSGBDF &2+*2<=G@!@GG#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFVOTJHOFEMPOH DPM4QBO
    BUUSJCVUFVOTJHOFEMPOH SPX4QBO
    <1VU'PSXBSETWBMVF>SFBEPOMZBUUSJCVUF %0.4FUUBCMF5PLFO-JTU IFBEFST
    SFBEPOMZBUUSJCVUFMPOH DFMM*OEFY
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G

    
    <>EE >@GG'I?@S K
    3FUVSOTUIFQPTJUJPOPGUIFDFMMJOUIFSPXT DFMMT Q MJTU5IJTEPFTOPUOFDFTTBSJMZDPSSFTQPOEUPUIF G
    QPTJUJPOPGUIFDFMMJOUIFUBCMF TJODFFBSMJFSDFMMTNJHIUDPWFSNVMUJQMFSPXTPSDPMVNOT
    3FUVSOTJGUIFFMFNFOUJTOUJOBSPX

    5IF >JG1K<I *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF5IFWBMVFNVTUCF MJNJUFEUPPOMZ


    OPOOFHBUJWFOVNCFSTHSFBUFSUIBO[FSP Q 

    5IF MJR1K<I *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF*UTEFGBVMUWBMVF XIJDINVTUCF


    VTFEJG QBSTJOHUIFBUUSJCVUFBTBOPOOFHBUJWFJOUFHFS Q SFUVSOTBOFSSPS JT

    5IF C@<?@MN *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    5IF >@GG'I?@S *%-BUUSJCVUFNVTU JGUIFFMFNFOUIBTBQBSFOU US Q FMFNFOU SFUVSOUIFJOEFYPGUIFDFMMTFMFNFOUJO


    UIFQBSFOUFMFNFOUT DFMMT Q DPMMFDUJPO*GUIFSFJTOPTVDIQBSFOUFMFNFOU UIFOUIFBUUSJCVUFNVTUSFUVSO

       ,LI=?MMCHAGI>?F

    5IFWBSJPVTUBCMFFMFNFOUTBOEUIFJSDPOUFOUBUUSJCVUFTUPHFUIFSEFИOFUIF N;<F?GI>?F

    " N;<F? DPOTJTUTPGDFMMTBMJHOFEPOBUXPEJNFOTJPOBMHSJEPG MFINM XJUIDPPSEJOBUFT G H


    5IFHSJEJTИOJUF BOEJT
    FJUIFSFNQUZPSIBTPOFPSNPSFTMPUT*GUIFHSJEIBTPOFPSNPSFTMPUT UIFOUIF G DPPSEJOBUFTBSFBMXBZTJOUIFSBOHF
     ˘ G  GF83C7 BOEUIF H DPPSEJOBUFTBSFBMXBZTJOUIFSBOHF  ˘ H  H74867C*GPOFPSCPUIPG GF83C7 BOE H74867C BSF
    [FSP UIFOUIFUBCMFJTFNQUZ IBTOPTMPUT
    5BCMFTDPSSFTQPOEUP UBCMF Q FMFNFOUT

    " =?FF JTBTFUPGTMPUTBODIPSFEBUBTMPU 24;;G 24;;H


    BOEXJUIBQBSUJDVMBS F83C7 BOE 74867C TVDIUIBUUIFDFMMDPWFST
    BMMUIFTMPUTXJUIDPPSEJOBUFT G H
    XIFSF 24;;G ˘ G  24;;G F83C7 BOE 24;;H ˘ H  24;;H 74867C$FMMTDBOFJUIFSCF 30C0
    24;;B PS 74034A24;;B%BUBDFMMTDPSSFTQPOEUP UE Q FMFNFOUT BOEIFBEFSDFMMTDPSSFTQPOEUP UI Q FMFNFOUT$FMMTPG
    CPUIUZQFTDBOIBWF[FSPPSNPSFBTTPDJBUFEIFBEFSDFMMT

    *UJTQPTTJCMF JODFSUBJOFSSPSDBTFT GPSUXPDFMMTUPPDDVQZUIFTBNFTMPU

    " LIQ JTBDPNQMFUFTFUPGTMPUTGSPN G UP GGF83C7 GPSBQBSUJDVMBSWBMVFPG H3PXTDPSSFTQPOEUP US Q


    FMFNFOUT

    " =IFOGH JTBDPNQMFUFTFUPGTMPUTGSPN H UP HH74867C GPSBQBSUJDVMBSWBMVFPG G$PMVNOTDBODPSSFTQPOEUP


    DPM Q FMFNFOUT*OUIFBCTFODFPG DPM Q FMFNFOUT DPMVNOTBSFJNQMJFE

    " LIQALIOJ JTBTFUPG SPXT Q BODIPSFEBUBTMPU  6A>D?H


    XJUIBQBSUJDVMBS 74867C TVDIUIBUUIFSPXHSPVQDPWFST
    BMMUIFTMPUTXJUIDPPSEJOBUFT G H
    XIFSF  ˘ G  GF83C7 BOE 6A>D?H ˘ H  6A>D?H 74867C3PXHSPVQTDPSSFTQPOEUP
    UCPEZ Q UIFBE Q BOE UGPPU Q FMFNFOUT/PUFWFSZSPXJTOFDFTTBSJMZJOBSPXHSPVQ

    " =IFOGHALIOJ JTBTFUPG DPMVNOT Q BODIPSFEBUBTMPU 6A>D?G 


    XJUIBQBSUJDVMBS F83C7 TVDIUIBUUIFDPMVNO
    HSPVQDPWFSTBMMUIFTMPUTXJUIDPPSEJOBUFT G H
    XIFSF 6A>D?G ˘ G  6A>D?G F83C7 BOE  ˘ H  H74867C$PMVNO
    HSPVQTDPSSFTQPOEUP DPMHSPVQ Q FMFNFOUT/PUFWFSZDPMVNOJTOFDFTTBSJMZJOBDPMVNOHSPVQ

    3PXHSPVQT Q DBOOPUPWFSMBQFBDIPUIFS4JNJMBSMZ DPMVNOHSPVQT Q DBOOPUPWFSMBQFBDIPUIFS

    " DFMM Q DBOOPUDPWFSTMPUTUIBUBSFGSPNUXPPSNPSF SPXHSPVQT Q *UJT IPXFWFS QPTTJCMFGPSBDFMMUPCFJO


    NVMUJQMF DPMVNOHSPVQT Q "MMUIFTMPUTUIBUGPSNQBSUPGPOFDFMMBSFQBSUPG[FSPPSPOF SPXHSPVQT Q BOE[FSPPS
    NPSF DPMVNOHSPVQT Q 

    *OBEEJUJPOUP DFMMT Q DPMVNOT Q SPXT Q SPXHSPVQT Q BOE DPMVNOHSPVQT Q UBCMFT Q DBOIBWFB DBQUJPO Q
    FMFNFOUBTTPDJBUFEXJUIUIFN5IJTHJWFTUIFUBCMFBIFBEJOH PSMFHFOE

    " N;<F?GI>?F?LLIL JTBOFSSPSXJUIUIFEBUBSFQSFTFOUFECZ UBCMF Q FMFNFOUTBOEUIFJSEFTDFOEBOUT%PDVNFOUT


    NVTUOPUIBWFUBCMFNPEFMFSSPST

        "ILGCHA;N;<F?

    5PEFUFSNJOFXIJDIFMFNFOUTDPSSFTQPOEUPXIJDITMPUTJOB UBCMF Q BTTPDJBUFEXJUIB UBCMF Q FMFNFOU UP


    EFUFSNJOFUIFEJNFOTJPOTPGUIFUBCMF GF83C7 BOE H74867C
    BOEUPEFUFSNJOFJGUIFSFBSFBOZ UBCMFNPEFMFSSPST Q
    VTFSBHFOUTNVTUVTFUIFGPMMPXJOHBMHPSJUIN

    
     -FU GF83C7 CF[FSP

     -FU H74867C CF[FSP

     -FU ?4=38=6 ,'', ( 4;4<4=CB CFBMJTUPG UGPPU Q FMFNFOUT JOJUJBMMZFNQUZ

     -FU C74C01;4 CFUIF UBCMF Q SFQSFTFOUFECZUIF UBCMF Q FMFNFOU5IF GF83C7 BOE H74867C WBSJBCMFTHJWF C74
    C01;4TEJNFOTJPOT *74C01;4 JTJOJUJBMMZFNQUZ

     *GUIF UBCMF Q FMFNFOUIBTOPDIJMESFOFMFNFOUT UIFOSFUVSO C74C01;4 XIJDIXJMMCFFNQUZ


    BOEBCPSU
    UIFTFTUFQT

     "TTPDJBUFUIFИSTU DBQUJPO Q FMFNFOUDIJMEPGUIF UBCMF Q FMFNFOUXJUI C74C01;4*GUIFSFBSFOPTVDI


    DIJMESFO UIFOJUIBTOPBTTPDJBUFE DBQUJPO Q FMFNFOU

     -FUUIF 2DAA4=C4;4<4=C CFUIFИSTUFMFNFOUDIJMEPGUIF UBCMF Q FMFNFOU

    *GBTUFQJOUIJTBMHPSJUINFWFSSFRVJSFTUIF 2DAA4=C4;4<4=C UPCF ;>P;H=?>NINB?H?RN=BCF>I@NB?


    O<=G@ XIFOUIFSFJTOPTVDIOFYUDIJME UIFOUIFVTFSBHFOUNVTUKVNQUPUIFTUFQMBCFMFE 4=3 OFBSUIFFOE
    PGUIJTBMHPSJUIN

     8IJMFUIF 2DAA4=C4;4<4=C JTOPUPOFPGUIFGPMMPXJOHFMFNFOUT BEWBODF Q UIF 2DAA4=C4;4<4=C UPUIFOFYU


    DIJMEPGUIF UBCMF Q 

    Ǭ DPMHSPVQ Q
    Ǭ UIFBE Q
    Ǭ UCPEZ Q
    Ǭ UGPPU Q
    Ǭ US Q

     *GUIF 2DAA4=C4;4<4=C JTB DPMHSPVQ Q GPMMPXUIFTFTVCTUFQT

     >;D<=6A>D?B1SPDFTTUIF 2DAA4=C4;4<4=C BDDPSEJOHUPUIFBQQSPQSJBUFDBTFCFMPX


    K
    X %@NB? <NKK>GM>E>F>GM B;M;HS >JG ?F?G?HN=BCF>L?H
    'PMMPXUIFTFTUFQT

     -FU GBC0AC IBWFUIFWBMVFPG GF83C7

     -FUUIF 2DAA4=C2>;D<= CFUIFИSTU DPM Q FMFNFOUDIJMEPGUIF DPMHSPVQ Q


    FMFNFOU

     >;D<=B*GUIF 2DAA4=C2>;D<= DPM Q FMFNFOUIBTB TQBO Q BUUSJCVUF UIFO


    QBSTFJUTWBMVFVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q 

    *GUIFSFTVMUPGQBSTJOHUIFWBMVFJTOPUBOFSSPSPS[FSP UIFOMFU B?0= CFUIBU


    WBMVF

    0UIFSXJTF JGUIF DPM Q FMFNFOUIBTOP TQBO Q BUUSJCVUF PSJGUSZJOHUPQBSTF


    UIFBUUSJCVUFTWBMVFSFTVMUFEJOBOFSSPSPS[FSP UIFOMFU B?0= CF

     *ODSFBTF GF83C7 CZ B?0=

     -FUUIFMBTU B?0= DPMVNOT Q JO C74C01;4 DPSSFTQPOEUPUIF 2DAA4=C2>;D<=


    DPM Q FMFNFOU

     *G 2DAA4=C2>;D<= JTOPUUIFMBTU DPM Q FMFNFOUDIJMEPGUIF DPMHSPVQ Q


    FMFNFOU UIFOMFUUIF 2DAA4=C2>;D<= CFUIFOFYU DPM Q FMFNFOUDIJMEPGUIF
    DPMHSPVQ Q FMFNFOU BOESFUVSOUPUIFTUFQMBCFMFE 2>;D<=B

     -FUBMMUIFMBTU DPMVNOT Q JO C74C01;4 GSPN YGBC0AC UP YGF83C7 GPSNBOFX


    DPMVNOHSPVQ Q BODIPSFEBUUIFTMPU GBC0AC 
    XJUIXJEUI GF83C7GBC0AC
    DPSSFTQPOEJOHUPUIF DPMHSPVQ Q FMFNFOU
    K
    X %@NB? <NKK>GM>E>F>GM B;MHI >JG ?F?G?HN=BCF>L?H

     *GUIF DPMHSPVQ Q FMFNFOUIBTB TQBO Q BUUSJCVUF UIFOQBSTFJUTWBMVFVTJOH


    UIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q 

    *GUIFSFTVMUPGQBSTJOHUIFWBMVFJTOPUBOFSSPSPS[FSP UIFOMFU B?0= CFUIBU


    WBMVF

    
    0UIFSXJTF JGUIF DPMHSPVQ Q FMFNFOUIBTOP TQBO Q BUUSJCVUF PSJGUSZJOHUP
    QBSTFUIFBUUSJCVUFTWBMVFSFTVMUFEJOBOFSSPSPS[FSP UIFOMFU B?0= CF

     *ODSFBTF GF83C7 CZ B?0=

     -FUUIFMBTU B?0= DPMVNOT Q JO C74C01;4 GPSNBOFX DPMVNOHSPVQ Q


    BODIPSFEBUUIFTMPU GF83C7B?0= 
    XJUIXJEUI B?0= DPSSFTQPOEJOHUPUIF
    DPMHSPVQ Q FMFNFOU

     "EWBODF Q UIF 2DAA4=C4;4<4=C UPUIFOFYUDIJMEPGUIF UBCMF Q 

     8IJMFUIF 2DAA4=C4;4<4=C JTOPUPOFPGUIFGPMMPXJOHFMFNFOUT BEWBODF Q UIF 2DAA4=C4;4<4=C UP


    UIFOFYUDIJMEPGUIF UBCMF Q 

    Ǭ DPMHSPVQ Q
    Ǭ UIFBE Q
    Ǭ UCPEZ Q
    Ǭ UGPPU Q
    Ǭ US Q

     *GUIF 2DAA4=C4;4<4=C JTB DPMHSPVQ Q FMFNFOU KVNQUPUIFTUFQMBCFMFE 2>;D<=6A>D?B BCPWF

     -FU H2DAA4=C CF[FSP

     -FUUIF ;8BC>53>F=F0A36A>F8=624;;B CFBOFNQUZMJTU

     (>FB8IJMFUIF 2DAA4=C4;4<4=C JTOPUPOFPGUIFGPMMPXJOHFMFNFOUT BEWBODF Q UIF 2DAA4=C4;4<4=C UP


    UIFOFYUDIJMEPGUIF UBCMF Q 

    Ǭ UIFBE Q
    Ǭ UCPEZ Q
    Ǭ UGPPU Q
    Ǭ US Q

     *GUIF 2DAA4=C4;4<4=C JTB US Q UIFOSVOUIF BMHPSJUINGPSQSPDFTTJOHSPXT Q BEWBODF Q UIF 2DAA4=C
    4;4<4=C UPUIFOFYUDIJMEPGUIF UBCMF Q BOESFUVSOUPUIFTUFQMBCFMFE A>FB

     3VOUIF BMHPSJUINGPSFOEJOHBSPXHSPVQ Q 

     *GUIF 2DAA4=C4;4<4=C JTB UGPPU Q UIFOBEEUIBUFMFNFOUUPUIFMJTUPG ?4=38=6 ,'', ( 4;4<4=CB
    BEWBODF Q UIF 2DAA4=C4;4<4=C UPUIFOFYUDIJMEPGUIF UBCMF Q BOESFUVSOUPUIFTUFQMBCFMFE A>FB

     5IF 2DAA4=C4;4<4=C JTFJUIFSB UIFBE Q PSB UCPEZ Q 

    3VOUIF BMHPSJUINGPSQSPDFTTJOHSPXHSPVQT Q 

     "EWBODF Q UIF 2DAA4=C4;4<4=C UPUIFOFYUDIJMEPGUIF UBCMF Q 

     3FUVSOUPUIFTUFQMBCFMFE A>FB

     =3'PSFBDI UGPPU Q FMFNFOUJOUIFMJTUPG ?4=38=6 ,'', ( 4;4<4=CB JOUSFFPSEFS SVOUIF BMHPSJUINGPS
    QSPDFTTJOHSPXHSPVQT Q 

     *GUIFSFFYJTUTB SPX Q PS DPMVNO Q JO C74C01;4 DPOUBJOJOHPOMZ TMPUT Q UIBUEPOPUIBWFB DFMM Q
    BODIPSFEUPUIFN UIFOUIJTJTB UBCMFNPEFMFSSPS Q 

     3FUVSO C74C01;4

    5IF ;FAILCNBG@ILJLI=?MMCHALIQALIOJM XIJDIJTJOWPLFECZUIFTFUPGTUFQTBCPWFGPSQSPDFTTJOH UIFBE Q


    UCPEZ Q BOE UGPPU Q FMFNFOUT JT

     -FU HBC0AC IBWFUIFWBMVFPG H74867C

     'PSFBDI US Q FMFNFOUUIBUJTBDIJMEPGUIFFMFNFOUCFJOHQSPDFTTFE JOUSFFPSEFS SVOUIF BMHPSJUINGPS


    QSPDFTTJOHSPXT Q 

     *G H74867C  HBC0AC UIFOMFUBMMUIFMBTU SPXT Q JO C74C01;4 GSPN ZHBC0AC UP ZH74867C GPSNBOFX SPX
    HSPVQ Q BODIPSFEBUUIFTMPUXJUIDPPSEJOBUF  HBC0AC
    XJUIIFJHIU H74867CHBC0AC DPSSFTQPOEJOHUPUIF
    FMFNFOUCFJOHQSPDFTTFE

     3VOUIF BMHPSJUINGPSFOEJOHBSPXHSPVQ Q 

    
    5IF ;FAILCNBG@IL?H>CHA;LIQALIOJ XIJDIJTJOWPLFECZUIFTFUPGTUFQTBCPWFXIFOTUBSUJOHBOEFOEJOHB
    CMPDLPGSPXT JT

     8IJMF H2DAA4=C JTMFTTUIBO H74867C GPMMPXUIFTFTUFQT

     3VOUIF BMHPSJUINGPSHSPXJOHEPXOXBSEHSPXJOHDFMMT Q 

     *ODSFBTF H2DAA4=C CZ

     &NQUZUIF ;8BC>53>F=F0A36A>F8=624;;B

    5IF ;FAILCNBG@ILJLI=?MMCHALIQM XIJDIJTJOWPLFECZUIFTFUPGTUFQTBCPWFGPSQSPDFTTJOH US Q FMFNFOUT JT

     *G H74867C JTFRVBMUP H2DAA4=C UIFOJODSFBTF H74867C CZ H2DAA4=C JTOFWFS 6A40C4A UIBO H74867C

     -FU G2DAA4=C CF

     3VOUIF BMHPSJUINGPSHSPXJOHEPXOXBSEHSPXJOHDFMMT Q 

     *GUIF US Q FMFNFOUCFJOHQSPDFTTFEIBTOP UE Q PS UI Q FMFNFOUDIJMESFO UIFOJODSFBTF H2DAA4=C CZ


    BCPSUUIJTTFUPGTUFQT BOESFUVSOUPUIFBMHPSJUINBCPWF

     -FU 2DAA4=C24;; CFUIFИSTU UE Q PS UI Q FMFNFOUJOUIF US Q FMFNFOUCFJOHQSPDFTTFE

     4;;B8IJMF G2DAA4=C JTMFTTUIBO GF83C7 BOEUIFTMPUXJUIDPPSEJOBUF G2DAA4=C H2DAA4=C


    BMSFBEZIBTBDFMM
    BTTJHOFEUPJU JODSFBTF G2DAA4=C CZ

     *G G2DAA4=C JTFRVBMUP GF83C7 JODSFBTF GF83C7 CZ G2DAA4=C JTOFWFS 6A40C4A UIBO GF83C7

     *GUIF 2DAA4=C24;; IBTB DPMTQBO Q BUUSJCVUF UIFO QBSTFUIBUBUUSJCVUFTWBMVF Q BOEMFU 2>;B?0= CFUIF
    SFTVMU

    *GQBSTJOHUIBUWBMVFGBJMFE PSSFUVSOFE[FSP PSJGUIFBUUSJCVUFJTBCTFOU UIFOMFU 2>;B?0= CF JOTUFBE

     *GUIF 2DAA4=C24;; IBTB SPXTQBO Q BUUSJCVUF UIFO QBSTFUIBUBUUSJCVUFTWBMVF Q BOEMFU A>FB?0= CFUIF
    SFTVMU

    *GQBSTJOHUIBUWBMVFGBJMFEPSJGUIFBUUSJCVUFJTBCTFOU UIFOMFU A>FB?0= CF JOTUFBE

     *G A>FB?0= JT[FSP UIFOMFU 24;;6A>FB3>F=F0A3 CFUSVF BOETFU A>FB?0= UP0UIFSXJTF MFU 24;;6A>FB
    3>F=F0A3 CFGBMTF

     *G GF83C7  G2DAA4=C 2>;B?0= UIFOMFU GF83C7 CF G2DAA4=C 2>;B?0=

     *G H74867C  H2DAA4=C A>FB?0= UIFOMFU H74867C CF H2DAA4=C A>FB?0=

     -FUUIFTMPUTXJUIDPPSEJOBUFT G H
    TVDIUIBU G2DAA4=C ˘ G  G2DAA4=C 2>;B?0= BOE
    H2DAA4=C ˘ H  H2DAA4=C A>FB?0= CFDPWFSFECZBOFX DFMM Q 2 BODIPSFEBU G2DAA4=C H2DAA4=C
    XIJDIIBT
    XJEUI 2>;B?0= BOEIFJHIU A>FB?0= DPSSFTQPOEJOHUPUIF 2DAA4=C24;; FMFNFOU

    *GUIF 2DAA4=C24;; FMFNFOUJTB UI Q FMFNFOU MFUUIJTOFXDFMM 2 CFBIFBEFSDFMMPUIFSXJTF MFUJUCFBEBUB


    DFMM

    5PFTUBCMJTIXIJDIIFBEFSDFMMTBQQMZUPUIF 2DAA4=C24;; FMFNFOU VTFUIF BMHPSJUINGPSBTTJHOJOHIFBEFS


    DFMMT Q EFTDSJCFEJOUIFOFYUTFDUJPO

    *GBOZPGUIFTMPUTJOWPMWFEBMSFBEZIBEB DFMM Q DPWFSJOHUIFN UIFOUIJTJTB UBCMFNPEFMFSSPS Q 5IPTF


    TMPUTOPXIBWFUXPDFMMTPWFSMBQQJOH

     *G 24;;6A>FB3>F=F0A3 JTUSVF UIFOBEEUIFUVQMF\2 G2DAA4=C 2>;B?0=^UPUIF ;8BC>53>F=F0A36A>F8=624;;B

     *ODSFBTF G2DAA4=C CZ 2>;B?0=

     *G 2DAA4=C24;; JTUIFMBTU UE Q PS UI Q FMFNFOUJOUIF US Q FMFNFOUCFJOHQSPDFTTFE UIFOJODSFBTF H2DAA4=C
    CZ BCPSUUIJTTFUPGTUFQT BOESFUVSOUPUIFBMHPSJUINBCPWF

     -FU 2DAA4=C24;; CFUIFOFYU UE Q PS UI Q FMFNFOUJOUIF US Q FMFNFOUCFJOHQSPDFTTFE

     3FUVSOUPUIFTUFQMBCFMMFE 24;;B

    
    8IFOUIFBMHPSJUINTBCPWFSFRVJSFUIFVTFSBHFOUUPSVOUIF ;FAILCNBG@ILALIQCHA>IQHQ;L> ALIQCHA=?FFM UIF
    VTFSBHFOUNVTU GPSFBDI\24;; 24;;G F83C7^UVQMFJOUIF ;8BC>53>F=F0A36A>F8=624;;B JGBOZ FYUFOEUIF DFMM Q 24;;
    TPUIBUJUBMTPDPWFSTUIFTMPUTXJUIDPPSEJOBUFT G H2DAA4=C
    XIFSF 24;;G ˘ G  24;;G F83C7

        "ILGCHAL?F;NCIHMBCJM<?NQ??H>;N;=?FFM;H>B?;>?L=?FFM

    &BDIDFMMDBOCFBTTJHOFE[FSPPSNPSFIFBEFSDFMMT5IF ;FAILCNBG@IL;MMCAHCHAB?;>?L=?FFM UPBDFMM ?A8=28?0;


    24;; JTBTGPMMPXT

     -FU 74034A;8BC CFBOFNQUZMJTUPGDFMMT

     -FU ?A8=28?0;G ?A8=28?0;H


    CFUIFDPPSEJOBUFPGUIFTMPUUPXIJDIUIF ?A8=28?0;24;; JTBODIPSFE

    X %@NB? IKBG<BI:E<>EE B;M; C@<?@MN K ;NNLC<ON?MJ?=C]?>

     5BLFUIFWBMVFPGUIF ?A8=28?0;24;;T IFBEFST Q BUUSJCVUFBOE TQMJUJUPOTQBDFT Q MFUUJOH


    83;8BC CFUIFMJTUPGUPLFOTPCUBJOFE

     'PSFBDIUPLFOJOUIF 83;8BC JGUIFИSTUFMFNFOUJOUIF %PDVNFOU Q XJUIBO*%FRVBMUPUIF


    UPLFOJTBDFMMJOUIFTBNF UBCMF Q BOEUIBUDFMMJTOPUUIF ?A8=28?0;24;; UIFOBEEUIBU
    DFMMUP 74034A;8BC
    K
    X %@ IKBG<BI:E<>EE >I?MHINB;P?; C@<?@MN ;NNLC<ON?MJ?=C]?>

     -FU ?A8=28?0;F83C7 CFUIFXJEUIPGUIF ?A8=28?0;24;;

     -FU ?A8=28?0;74867C CFUIFIFJHIUPGUIF ?A8=28?0;24;;

     'PSFBDIWBMVFPG H GSPN ?A8=28?0;H UP ?A8=28?0;H ?A8=28?0;74867C SVOUIF JOUFSOBM


    BMHPSJUINGPSTDBOOJOHBOEBTTJHOJOHIFBEFSDFMMT Q XJUIUIF ?A8=28?0;24;; UIF 74034A
    ;8BC UIFJOJUJBMDPPSEJOBUF ?A8=28?0;G H
    BOEUIFJODSFNFOUT ņGʐ BOE ņH

     'PSFBDIWBMVFPG G GSPN ?A8=28?0;G UP ?A8=28?0;G ?A8=28?0;F83C7 SVOUIF JOUFSOBM


    BMHPSJUINGPSTDBOOJOHBOEBTTJHOJOHIFBEFSDFMMT Q XJUIUIF ?A8=28?0;24;; UIF 74034A
    ;8BC UIFJOJUJBMDPPSEJOBUF G ?A8=28?0;H
    BOEUIFJODSFNFOUT ņG BOE ņHʐ

     *GUIF ?A8=28?0;24;; JTBODIPSFEJOB SPXHSPVQ Q UIFOBEEBMMIFBEFSDFMMTUIBUBSF SPX


    HSPVQIFBEFST Q BOEBSFBODIPSFEJOUIFTBNFSPXHSPVQXJUIBO GDPPSEJOBUFMFTT
    UIBOPSFRVBMUP ?A8=28?0;G ?A8=28?0;F83C7 BOEB HDPPSEJOBUFMFTTUIBOPSFRVBMUP
    ?A8=28?0;H ?A8=28?0;74867C UP 74034A;8BC

     *GUIF ?A8=28?0;24;; JTBODIPSFEJOB DPMVNOHSPVQ Q UIFOBEEBMMIFBEFSDFMMTUIBUBSF


    DPMVNOHSPVQIFBEFST Q BOEBSFBODIPSFEJOUIFTBNFDPMVNOHSPVQXJUIBO G
    DPPSEJOBUFMFTTUIBOPSFRVBMUP ?A8=28?0;G ?A8=28?0;F83C7 BOEB HDPPSEJOBUFMFTTUIBO
    PSFRVBMUP ?A8=28?0;H ?A8=28?0;74867C UP 74034A;8BC

     3FNPWFBMMUIF FNQUZDFMMT Q GSPNUIF 74034A;8BC

     3FNPWFBOZEVQMJDBUFTGSPNUIF 74034A;8BC

     3FNPWF ?A8=28?0;24;; GSPNUIF 74034A;8BC JGJUJTUIFSF

     "TTJHOUIFIFBEFSTJOUIF 74034A;8BC UPUIF ?A8=28?0;24;;

    5IF CHN?LH;F;FAILCNBG@ILM=;HHCHA;H>;MMCAHCHAB?;>?L=?FFM HJWFOB ?A8=28?0;24;; B 74034A;8BC BOJOJUJBM


    DPPSEJOBUF 8=8C80;G 8=8C80;H
    BOEņG BOEņH JODSFNFOUT JTBTGPMMPXT

     -FU G FRVBM 8=8C80;G

     -FU H FRVBM 8=8C80;H

     -FU >?0@D474034AB CFBOFNQUZMJTUPGDFMMT

    X %@ IKBG<BI:E<>EE CM;B?;>?L=?FF


    -FU 8=74034A1;>2: CFUSVF BOEMFU 74034AB5A><2DAA4=C74034A1;>2: CFBMJTUPGDFMMTDPOUBJOJOH
    KVTUUIF ?A8=28?0;24;;

    X +NB?LQCM?
    -FU 8=74034A1;>2: CFGBMTFBOEMFU 74034AB5A><2DAA4=C74034A1;>2: CFBOFNQUZMJTUPGDFMMT

    
     ">>?*ODSFNFOU G CZņGJODSFNFOU H CZņH

    *HM> "HK>:<ABGOH<:MBHGH?MABL:E@HKBMAF HG>H?UQ :G=UR PBEE;>Y :G=MA>HMA>K


    PBEE;>

     *GFJUIFS G PS H JTMFTTUIBO UIFOBCPSUUIJTJOUFSOBMBMHPSJUIN

     *GUIFSFJTOPDFMMDPWFSJOHTMPU G H
    PSJGUIFSFJTNPSFUIBOPOFDFMMDPWFSJOHTMPU G H
    SFUVSOUPUIF
    TVCTUFQMBCFMFE ;>>?

     -FU 2DAA4=C24;; CFUIFDFMMDPWFSJOHTMPU G H


    

    X %@ <NKK>GM<>EE CM;B?;>?L=?FF

     4FU 8=74034A1;>2: UPUSVF

     "EE 2DAA4=C24;; UP 74034AB5A><2DAA4=C74034A1;>2:

     -FU 1;>2:43 CFGBMTF

    X %@UQ CM


    *GUIFSFBSFBOZDFMMTJOUIF >?0@D474034AB MJTUBODIPSFEXJUIUIFTBNF G
    DPPSEJOBUFBTUIF 2DAA4=C24;; BOEXJUIUIFTBNFXJEUIBT 2DAA4=C24;; UIFOMFU
    1;>2:43 CFUSVF

    *GUIF 2DAA4=C24;; JTOPUB DPMVNOIFBEFS Q UIFOMFU 1;>2:43 CFUSVF

    X %@UR CM
    *GUIFSFBSFBOZDFMMTJOUIF >?0@D474034AB MJTUBODIPSFEXJUIUIFTBNF H
    DPPSEJOBUFBTUIF 2DAA4=C24;; BOEXJUIUIFTBNFIFJHIUBT 2DAA4=C24;; UIFOMFU
    1;>2:43 CFUSVF

    *GUIF 2DAA4=C24;; JTOPUB SPXIFBEFS Q UIFOMFU 1;>2:43 CFUSVF

     *G 1;>2:43 JTGBMTF UIFOBEEUIF 2DAA4=C24;; UPUIF 74034AB;8BC

    X %@ <NKK>GM<>EE CM;>;N;=?FF;H> BGA>:=>K;EH<D CMNLO?


    4FU 8=74034A1;>2: UPGBMTF"EEBMMUIFDFMMTJO 74034AB5A><2DAA4=C74034A1;>2: UPUIF >?0@D4
    74034AB MJTU BOEFNQUZUIF 74034AB5A><2DAA4=C74034A1;>2: MJTU

     3FUVSOUPUIFTUFQMBCFMFE ;>>?

    "IFBEFSDFMMBODIPSFEBUUIFTMPUXJUIDPPSEJOBUF G H
    XJUIXJEUI F83C7 BOEIFJHIU 74867C JTTBJEUPCFB =IFOGH
    B?;>?L JGBOZPGUIFGPMMPXJOHDPOEJUJPOTBSFUSVF

    Ǭ 5IFDFMMT TDPQF Q BUUSJCVUFJTJOUIF DPMVNO Q TUBUF PS

    Ǭ 5IFDFMMT TDPQF Q BUUSJCVUFJTJOUIF BVUP Q TUBUF BOEUIFSFBSFOPEBUBDFMMTJOBOZPGUIFDFMMTDPWFSJOH


    TMPUTXJUI HDPPSEJOBUFT H  H 74867C

    "IFBEFSDFMMBODIPSFEBUUIFTMPUXJUIDPPSEJOBUF G H
    XJUIXJEUI F83C7 BOEIFJHIU 74867C JTTBJEUPCFB LIQB?;>?L
    JGBOZPGUIFGPMMPXJOHDPOEJUJPOTBSFUSVF

    Ǭ 5IFDFMMT TDPQF Q BUUSJCVUFJTJOUIF SPX Q TUBUF PS

    Ǭ 5IFDFMMT TDPQF Q BUUSJCVUFJTJOUIF BVUP Q TUBUF UIFDFMMJTOPUB DPMVNOIFBEFS Q BOEUIFSFBSFOP
    EBUBDFMMTJOBOZPGUIFDFMMTDPWFSJOHTMPUTXJUI GDPPSEJOBUFT G  G F83C7

    "IFBEFSDFMMJTTBJEUPCFB =IFOGHALIOJB?;>?L JGJUT TDPQF Q BUUSJCVUFJTJOUIF DPMVNOHSPVQ Q TUBUF

    "IFBEFSDFMMJTTBJEUPCFB LIQALIOJB?;>?L JGJUT TDPQF Q BUUSJCVUFJTJOUIF SPXHSPVQ Q TUBUF

    "DFMMJTTBJEUPCFBO ?GJNS=?FF JGJUDPOUBJOTOPFMFNFOUTBOEJUTUFYUDPOUFOU JGBOZ DPOTJTUTPOMZPG 8IJUF@4QBDF Q


    DIBSBDUFST

       !R;GJF?M

    *78BB42C8>=8B=>==>A<0C8E4

    
    5IFGPMMPXJOHTIPXTIPXNJHIUPOFNBSLVQUIFCPUUPNQBSUPGUBCMFPGUIF )<8C7B>=80=?7HB820;C01;4B,>;D<4
     

    UBCMF
    DBQUJPO4QFDJGJDBUJPOWBMVFTC4UFFMC C$BTUJOHTC
    "OO"45." $MBTT# 1NBY4NBYDBQUJPO
    UIFBE
    US
    UISPXTQBO(SBEFUI
    UISPXTQBO:JFME1PJOUUI
    UIDPMTQBO6MUJNBUFUFOTJMFTUSFOHUIUI
    UISPXTQBO1FSDFOUFMPOHNNPSJOUI
    UISPXTQBO1FSDFOUSFEVDUBSFBUI
    US
    US
    UILHNNTVQTVQUI
    UIMCJOTVQTVQUI
    US
    UIFBE
    UCPEZ
    US
    UE)BSEUE
    UEVMUJNBUFUE
    UEUE
    UE UE
    UEUE
    UEUE
    US
    US
    UE.FEJVNUE
    UEVMUJNBUFUE
    UEUE
    UE UE
    UEUE
    UEUE
    US
    US
    UE4PGUUE
    UEVMUJNBUFUE
    UEUE
    UE UE
    UEUE
    UEUE
    US
    UCPEZ
    UBCMF

    5IJTUBCMFDPVMEMPPLMJLFUIJT

    ," &#& /&+*1(0". 


     
     **  (..)2 )2 

    (/&)/"/"*.&("./-"*$/% "- "*/


    "- "*/
    "(+*$
    -!" &"(!+&*/ -"!0 /
     ))
    '$)) (&* -"
    +- &*

    -!   0(/&)/"    


    "!&0)   0(/&)/"   
    +#/   0(/&)/"  
    

    5IFGPMMPXJOHTIPXTIPXPOFNJHIUNBSLVQUIFHSPTTNBSHJOUBCMFPOQBHFPG"QQMF *ODT,ИMJOHGPSИTDBMZFBS
    

    UBCMF
    UIFBE
    US
    UI
    UI
    UI

    
    UI
    UCPEZ
    US
    UI/FUTBMFT
    UE 
    UE 
    UE 
    US
    UI$PTUPGTBMFT
    UE 
    UE 
    UE 
    UCPEZ
    US
    UI(SPTTNBSHJO
    UE 
    UE 
    UE 
    UGPPU
    US
    UI(SPTTNBSHJOQFSDFOUBHF
    UE
    UE
    UE
    UBCMF

    5IJTUBCMFDPVMEMPPLMJLFUIJT

      


    +*$*   
     
      
    '*+' *$*  
         
    )'**%)!#&  
    
      
    )'**%)!#&()&+! 
     
     

    5IFGPMMPXJOHTIPXTIPXPOFNJHIUNBSLVQUIFPQFSBUJOHFYQFOTFTUBCMFGSPNMPXFSPOUIFTBNFQBHFPGUIBU
    EPDVNFOU

    UBCMF
    DPMHSPVQDPM
    DPMHSPVQDPMDPMDPM
    UIFBE
    USUIUIUIUI
    UCPEZ
    USUITDPQFSPXHSPVQ3FTFBSDIBOEEFWFMPQNFOU
    UE UEUE
    USUITDPQFSPX1FSDFOUBHFPGOFUTBMFT
    UEUEUE
    UCPEZ
    USUITDPQFSPXHSPVQ4FMMJOH HFOFSBM BOEBENJOJTUSBUJWF
    UE UE UE 
    USUITDPQFSPX1FSDFOUBHFPGOFUTBMFT
    UEUEUE
    UBCMF

    5IJTUBCMFDPVMEMPPLMJLFUIJT

      


    *)"&,$'(%&+      
    )&+!' &+*$*  
        
    $$#&!!&)$&%#&#*+)+#,      

    )&+!' &+*$*       

    
      "ILGM

       %HNLI>O=NCIH

    *78BB42C8>=8B=>==>A<0C8E4

    'PSNTBMMPXVOTDSJQUFEDMJFOUTFSWFSJOUFSBDUJPOHJWFOBGPSN BVTFSDBOQSPWJEFEBUB TVCNJUJUUPUIFTFSWFS BOE


    IBWFUIFTFSWFSBDUPOJUBDDPSEJOHMZ FHSFUVSOJOHUIFSFTVMUTPGBTFBSDIPSDBMDVMBUJPO
    5IFFMFNFOUTVTFEJOGPSNT
    DBOBMTPCFVTFEGPSVTFSJOUFSBDUJPOXJUIOPBTTPDJBUFETVCNJTTJPONFDIBOJTN JODPOKVODUJPOXJUITDSJQUT

    8SJUJOHBGPSNDPOTJTUTPGTFWFSBMTUFQT XIJDIDBOCFQFSGPSNFEJOBOZPSEFSXSJUJOHUIFVTFSJOUFSGBDF JNQMFNFOUJOH


    UIFTFSWFSTJEFQSPDFTTJOH BOEDPOИHVSJOHUIFVTFSJOUFSGBDFUPDPNNVOJDBUFXJUIUIFTFSWFS

        3LCNCHA;@ILGMOM?LCHN?L@;=?

    *78BB42C8>=8B=>==>A<0C8E4

    'PSUIFQVSQPTFTPGUIJTCSJFGJOUSPEVDUJPO XFXJMMDSFBUFBQJ[[BPSEFSJOHGPSN

    "OZGPSNTUBSUTXJUIB GPSN Q FMFNFOU JOTJEFXIJDIBSFQMBDFEUIFDPOUSPMT.PTUDPOUSPMTBSFSFQSFTFOUFECZUIF


    JOQVU Q FMFNFOU XIJDICZEFGBVMUQSPWJEFTBPOFMJOFUFYUИFME5PMBCFMBDPOUSPM UIF MBCFM Q FMFNFOUJTVTFEUIF
    MBCFMUFYUBOEUIFDPOUSPMJUTFMGHPJOTJEFUIF MBCFM Q FMFNFOU&BDIQBSUPGBGPSNJTDPOTJEFSFEB QBSBHSBQI Q BOE
    JTUZQJDBMMZTFQBSBUFEGSPNPUIFSQBSUTVTJOH Q Q FMFNFOUT1VUUJOHUIJTUPHFUIFS IFSFJTIPXPOFNJHIUBTLGPSUIF
    DVTUPNFSTOBNF

    AJMH
    KG<=@G!PNOJH@MI<H@DIKPOG<=@GK
    AJMH

    5PMFUUIFVTFSTFMFDUUIFTJ[FPGUIFQJ[[B XFDBOVTFBTFUPGSBEJPCVUUPOT3BEJPCVUUPOTBMTPVTFUIF JOQVU Q


    FMFNFOU UIJTUJNFXJUIB UZQF Q BUUSJCVUFXJUIUIFWBMVF SBEJP Q 5PNBLFUIFSBEJPCVUUPOTXPSLBTBHSPVQ UIFZ
    BSFHJWFOBDPNNPOOBNFVTJOHUIF OBNF Q BUUSJCVUF5PHSPVQBCBUDIPGDPOUSPMTUPHFUIFS TVDIBT JOUIJTDBTF UIF
    SBEJPCVUUPOT POFDBOVTFUIF GJFMETFU Q FMFNFOU5IFUJUMFPGTVDIBHSPVQPGDPOUSPMTJTHJWFOCZUIFИSTUFMFNFOU
    JOUIF GJFMETFU Q XIJDIIBTUPCFB MFHFOE Q FMFNFOU

    GPSN
    QMBCFM$VTUPNFSOBNFJOQVUMBCFMQ
    AD@G?N@O
    G@B@I?.DUU<1DU@G@B@I?
    KG<=@GDIKPOOTK@M<?DJI<H@NDU@1H<GGG<=@GK
    KG<=@GDIKPOOTK@M<?DJI<H@NDU@+@?DPHG<=@GK
    KG<=@GDIKPOOTK@M<?DJI<H@NDU@*<MB@G<=@GK
    AD@G?N@O
    GPSN

    *HM> A:G@>L?KHFMA>IK>OBHNLLM>I:K>AB@AEB@AM>=

    5PQJDLUPQQJOHT XFDBOVTFDIFDLCPYFT5IFTFVTFUIF JOQVU Q FMFNFOUXJUIB UZQF Q BUUSJCVUFXJUIUIFWBMVF


    DIFDLCPY Q 

    GPSN
    QMBCFM$VTUPNFSOBNFJOQVUMBCFMQ
    GJFMETFU
    MFHFOE1J[[B4J[FMFHFOE
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F4NBMMMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F.FEJVNMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F-BSHFMBCFMQ
    GJFMETFU
    AD@G?N@O
    G@B@I?.DUU<2JKKDIBNG@B@I?
    KG<=@GDIKPOOTK@>C@>F=JS <>JIG<=@GK
    KG<=@GDIKPOOTK@>C@>F=JS#SOM<!C@@N@G<=@GK
    KG<=@GDIKPOOTK@>C@>F=JS-IDJIG<=@GK
    KG<=@GDIKPOOTK@>C@>F=JS+PNCMJJHG<=@GK
    AD@G?N@O
    GPSN

    
    5IFQJ[[FSJBGPSXIJDIUIJTGPSNJTCFJOHXSJUUFOJTBMXBZTNBLJOHNJTUBLFT TPJUOFFETBXBZUPDPOUBDUUIFDVTUPNFS
    'PSUIJTQVSQPTF XFDBOVTFGPSNDPOUSPMTTQFDJИDBMMZGPSUFMFQIPOFOVNCFST JOQVU Q FMFNFOUTXJUIUIFJS UZQF Q
    BUUSJCVUFTFUUP UFM Q
    BOEFNBJMBEESFTTFT JOQVU Q FMFNFOUTXJUIUIFJS UZQF Q BUUSJCVUFTFUUP FNBJM Q
    

    GPSN
    QMBCFM$VTUPNFSOBNFJOQVUMBCFMQ
    KG<=@G2@G@KCJI@DIKPOOTK@O@GG<=@GK
    KG<=@G# H<DG<??M@NNDIKPOOTK@@H<DGG<=@GK
    GJFMETFU
    MFHFOE1J[[B4J[FMFHFOE
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F4NBMMMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F.FEJVNMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F-BSHFMBCFMQ
    GJFMETFU
    GJFMETFU
    MFHFOE1J[[B5PQQJOHTMFHFOE
    QMBCFMJOQVUUZQFDIFDLCPY#BDPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY&YUSB$IFFTFMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY0OJPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY.VTISPPNMBCFMQ
    GJFMETFU
    GPSN

    8FDBOVTFBO JOQVU Q FMFNFOUXJUIJUT UZQF Q BUUSJCVUFTFUUP UJNF Q UPBTLGPSBEFMJWFSZUJNF.BOZPGUIFTF
    GPSNDPOUSPMTIBWFBUUSJCVUFTUPDPOUSPMFYBDUMZXIBUWBMVFTDBOCFTQFDJИFEJOUIJTDBTF UISFFBUUSJCVUFTPGQBSUJDVMBS
    JOUFSFTUBSF NJO Q NBY Q BOE TUFQ Q 5IFTFTFUUIFNJOJNVNUJNF UIFNBYJNVNUJNF BOEUIFJOUFSWBMCFUXFFO
    BMMPXFEWBMVFT JOTFDPOET
    5IJTQJ[[FSJBPOMZEFMJWFSTCFUXFFOBNBOEQN BOEEPFTOUQSPNJTFBOZUIJOHCFUUFS
    UIBONJOVUFJODSFNFOUT XIJDIXFDBONBSLVQBTGPMMPXT

    GPSN
    QMBCFM$VTUPNFSOBNFJOQVUMBCFMQ
    QMBCFM5FMFQIPOFJOQVUUZQFUFMMBCFMQ
    QMBCFM&NBJMBEESFTTJOQVUUZQFFNBJMMBCFMQ
    GJFMETFU
    MFHFOE1J[[B4J[FMFHFOE
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F4NBMMMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F.FEJVNMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F-BSHFMBCFMQ
    GJFMETFU
    GJFMETFU
    MFHFOE1J[[B5PQQJOHTMFHFOE
    QMBCFMJOQVUUZQFDIFDLCPY#BDPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY&YUSB$IFFTFMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY0OJPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY.VTISPPNMBCFMQ
    GJFMETFU
    KG<=@G.M@A@MM@??@GDQ@MTODH@DIKPOOTK@ODH@HDIH<S
    NO@KG<=@GK
    GPSN

    5IF UFYUBSFB Q FMFNFOUDBOCFVTFEUPQSPWJEFBGSFFGPSNUFYUИFME*OUIJTJOTUBODF XFBSFHPJOHUPVTFJUUP


    QSPWJEFBTQBDFGPSUIFDVTUPNFSUPHJWFEFMJWFSZJOTUSVDUJPOT

    GPSN
    QMBCFM$VTUPNFSOBNFJOQVUMBCFMQ
    QMBCFM5FMFQIPOFJOQVUUZQFUFMMBCFMQ
    QMBCFM&NBJMBEESFTTJOQVUUZQFFNBJMMBCFMQ
    GJFMETFU
    MFHFOE1J[[B4J[FMFHFOE
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F4NBMMMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F.FEJVNMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F-BSHFMBCFMQ
    GJFMETFU
    GJFMETFU
    MFHFOE1J[[B5PQQJOHTMFHFOE
    QMBCFMJOQVUUZQFDIFDLCPY#BDPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY&YUSB$IFFTFMBCFMQ

    
    QMBCFMJOQVUUZQFDIFDLCPY0OJPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY.VTISPPNMBCFMQ
    GJFMETFU
    QMBCFM1SFGFSSFEEFMJWFSZUJNFJOQVUUZQFUJNFNJONBY
    TUFQMBCFMQ
    KG<=@G"@GDQ@MTDINOMP>ODJINO@SO<M@<O@SO<M@<G<=@GK
    GPSN

    'JOBMMZ UPNBLFUIFGPSNTVCNJUUBCMFXFVTFUIF CVUUPO Q FMFNFOU

    GPSN
    QMBCFM$VTUPNFSOBNFJOQVUMBCFMQ
    QMBCFM5FMFQIPOFJOQVUUZQFUFMMBCFMQ
    QMBCFM&NBJMBEESFTTJOQVUUZQFFNBJMMBCFMQ
    GJFMETFU
    MFHFOE1J[[B4J[FMFHFOE
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F4NBMMMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F.FEJVNMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F-BSHFMBCFMQ
    GJFMETFU
    GJFMETFU
    MFHFOE1J[[B5PQQJOHTMFHFOE
    QMBCFMJOQVUUZQFDIFDLCPY#BDPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY&YUSB$IFFTFMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY0OJPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY.VTISPPNMBCFMQ
    GJFMETFU
    QMBCFM1SFGFSSFEEFMJWFSZUJNFJOQVUUZQFUJNFNJONBY
    TUFQMBCFMQ
    QMBCFM%FMJWFSZJOTUSVDUJPOTUFYUBSFBUFYUBSFBMBCFMQ
    K=POOJI1P=HDOJM?@M=POOJIK
    GPSN

        %GJF?G?HNCHANB?M?LP?L MC>?JLI=?MMCHA@IL;@ILG

    *78BB42C8>=8B=>==>A<0C8E4

    5IFFYBDUEFUBJMTGPSXSJUJOHBTFSWFSTJEFQSPDFTTPSBSFPVUPGTDPQFGPSUIJTTQFDJИDBUJPO'PSUIFQVSQPTFTPGUIJT
    JOUSPEVDUJPO XFXJMMBTTVNFUIBUUIFTDSJQUBU IUUQTQJ[[BFYBNQMFDPNPSEFSDHJ JTDPOИHVSFEUPBDDFQU
    TVCNJTTJPOTVTJOHUIF BQQMJDBUJPOYXXXGPSNVSMFODPEFE Q GPSNBU FYQFDUJOHUIFGPMMPXJOHQBSBNFUFSTTFOUJO
    BO)5511045CPEZ

    >PNOI<H@
    $VTUPNFSTOBNF

    >PNOO@G
    $VTUPNFSTUFMFQIPOFOVNCFS

    >PNO@H<DG
    $VTUPNFSTFNBJMBEESFTT

    NDU@
    5IFQJ[[BTJ[F FJUIFS TNBMM NFEJVN PS MBSHF

    OJKKDIBN
    5IFUPQQJOH TQFDJИFEPODFGPSFBDITFMFDUFEUPQQJOH XJUIUIFBMMPXFEWBMVFTCFJOH CBDPO DIFFTF POJPO BOE
    NVTISPPN

    ?@GDQ@MT
    5IFSFRVFTUFEEFMJWFSZUJNF

    >JHH@ION
    5IFEFMJWFSZJOTUSVDUJPOT

        IH]AOLCHA;@ILGNI=IGGOHC=;N?QCNB;M?LP?L

    *78BB42C8>=8B=>==>A<0C8E4

    
    'PSNTVCNJTTJPOTBSFFYQPTFEUPTFSWFSTJOBWBSJFUZPGXBZT NPTUDPNNPOMZBT)551(&5PS1045SFRVFTUT5P
    TQFDJGZUIFFYBDUNFUIPEVTFE UIF NFUIPE Q BUUSJCVUFJTTQFDJИFEPOUIF GPSN Q FMFNFOU5IJTEPFTOUTQFDJGZIPX
    UIFGPSNEBUBJTFODPEFE UIPVHIUPTQFDJGZUIBU ZPVVTFUIF FODUZQF Q BUUSJCVUF:PVBMTPIBWFUPTQFDJGZUIF
    63- Q PGUIFTFSWJDFUIBUXJMMIBOEMFUIFTVCNJUUFEEBUB VTJOHUIF BDUJPO Q BUUSJCVUF

    'PSFBDIGPSNDPOUSPMZPVXBOUTVCNJUUFE ZPVUIFOIBWFUPHJWFBOBNFUIBUXJMMCFVTFEUPSFGFSUPUIFEBUBJOUIF
    TVCNJTTJPO8FBMSFBEZTQFDJИFEUIFOBNFGPSUIFHSPVQPGSBEJPCVUUPOTUIFTBNFBUUSJCVUF OBNF Q
    BMTPTQFDJИFT
    UIFTVCNJTTJPOOBNF3BEJPCVUUPOTDBOCFEJTUJOHVJTIFEGSPNFBDIPUIFSJOUIFTVCNJTTJPOCZHJWJOHUIFNEJЗFSFOU
    WBMVFT VTJOHUIF WBMVF Q BUUSJCVUF

    .VMUJQMFDPOUSPMTDBOIBWFUIFTBNFOBNFGPSFYBNQMF IFSFXFHJWFBMMUIFDIFDLCPYFTUIFTBNFOBNF BOEUIF


    TFSWFSEJTUJOHVJTIFTXIJDIDIFDLCPYXBTDIFDLFECZTFFJOHXIJDIWBMVFTBSFTVCNJUUFEXJUIUIBUOBNFǡMJLFUIF
    SBEJPCVUUPOT UIFZBSFBMTPHJWFOVOJRVFWBMVFTXJUIUIF WBMVF Q BUUSJCVUF

    (JWFOUIFTFUUJOHTJOUIFQSFWJPVTTFDUJPO UIJTBMMCFDPNFT

    GPSN H@OCJ?KJNO
    @I>OTK@<KKGD><ODJIS RRR AJMH PMG@I>J?@?
    <>ODJICOOKNKDUU< @S<HKG@ >JHJM?@M >BD
    QMBCFM$VTUPNFSOBNFJOQVU I<H@>PNOI<H@MBCFMQ
    QMBCFM5FMFQIPOFJOQVUUZQFUFM I<H@>PNOO@GMBCFMQ
    QMBCFM&NBJMBEESFTTJOQVUUZQFFNBJM I<H@>PNO@H<DGMBCFMQ
    GJFMETFU
    MFHFOE1J[[B4J[FMFHFOE
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F Q<GP@NH<GG4NBMMMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F Q<GP@H@?DPH.FEJVNMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[F Q<GP@G<MB@-BSHFMBCFMQ
    GJFMETFU
    GJFMETFU
    MFHFOE1J[[B5PQQJOHTMFHFOE
    QMBCFMJOQVUUZQFDIFDLCPY I<H@OJKKDIBQ<GP@=<>JI#BDPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY I<H@OJKKDIBQ<GP@>C@@N@&YUSB$IFFTFMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY I<H@OJKKDIBQ<GP@JIDJI0OJPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPY I<H@OJKKDIBQ<GP@HPNCMJJH.VTISPPNMBCFMQ
    GJFMETFU
    QMBCFM1SFGFSSFEEFMJWFSZUJNFJOQVUUZQFUJNFNJONBYTUFQ
    I<H@?@GDQ@MTMBCFMQ
    QMBCFM%FMJWFSZJOTUSVDUJPOTUFYUBSFB I<H@>JHH@IONUFYUBSFBMBCFMQ
    QCVUUPO4VCNJUPSEFSCVUUPOQ
    GPSN

    'PSFYBNQMF JGUIFDVTUPNFSFOUFSFE%FOJTF-BXSFODFBTUIFJSOBNF BTUIFJSUFMFQIPOFOVNCFS


    EJEOPUTQFDJGZBOFNBJMBEESFTT BTLFEGPSBNFEJVNTJ[FEQJ[[B TFMFDUFEUIF&YUSB$IFFTFBOE.VTISPPNUPQQJOHT
    FOUFSFEBEFMJWFSZUJNFPGQN BOEMFGUUIFEFMJWFSZJOTUSVDUJPOTUFYUИFMECMBOL UIFVTFSBHFOUXPVMETVCNJUUIF
    GPMMPXJOHUPUIFPOMJOF8FCTFSWJDF

    DVTUOBNF%FOJTF -BXSFODFDVTUUFMDVTUFNBJMTJ[FNFEJVNUPQQJOHDIFFTFUPQQJOHNVTISPPNEFM

        FC?HN MC>?@ILGP;FC>;NCIH

    *78BB42C8>=8B=>==>A<0C8E4

    'PSNTDBOCFBOOPUBUFEJOTVDIBXBZUIBUUIFVTFSBHFOUXJMMDIFDLUIFVTFSTJOQVUCFGPSFUIFGPSNJTTVCNJUUFE5IF
    TFSWFSTUJMMIBTUPWFSJGZUIFJOQVUJTWBMJE TJODFIPTUJMFVTFSTDBOFBTJMZCZQBTTUIFGPSNWBMJEBUJPO
    CVUJUBMMPXTUIF
    VTFSUPBWPJEUIFXBJUJODVSSFECZIBWJOHUIFTFSWFSCFUIFTPMFDIFDLFSPGUIFVTFSTJOQVU

    5IFTJNQMFTUBOOPUBUJPOJTUIF SFRVJSFE Q BUUSJCVUF XIJDIDBOCFTQFDJИFEPO JOQVU Q FMFNFOUTUPJOEJDBUFUIBU


    UIFGPSNJTOPUUPCFTVCNJUUFEVOUJMBWBMVFJTHJWFO#ZBEEJOHUIJTBUUSJCVUFUPUIFDVTUPNFSOBNFBOEEFMJWFSZUJNF
    ИFMET XFBMMPXUIFVTFSBHFOUUPOPUJGZUIFVTFSXIFOUIFVTFSTVCNJUTUIFGPSNXJUIPVUИMMJOHJOUIPTFИFMET

    GPSNNFUIPEQPTU
    FODUZQFBQQMJDBUJPOYXXXGPSNVSMFODPEFE
    BDUJPOIUUQTQJ[[BFYBNQMFDPNPSEFSDHJ
    QMBCFM$VTUPNFSOBNFJOQVUOBNFDVTUOBNF M@LPDM@?MBCFMQ
    QMBCFM5FMFQIPOFJOQVUUZQFUFMOBNFDVTUUFMMBCFMQ
    QMBCFM&NBJMBEESFTTJOQVUUZQFFNBJMOBNFDVTUFNBJMMBCFMQ
    GJFMETFU
    MFHFOE1J[[B4J[FMFHFOE

    
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[FWBMVFTNBMM4NBMMMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[FWBMVFNFEJVN.FEJVNMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[FWBMVFMBSHF-BSHFMBCFMQ
    GJFMETFU
    GJFMETFU
    MFHFOE1J[[B5PQQJOHTMFHFOE
    QMBCFMJOQVUUZQFDIFDLCPYOBNFUPQQJOHWBMVFCBDPO#BDPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPYOBNFUPQQJOHWBMVFDIFFTF&YUSB$IFFTFMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPYOBNFUPQQJOHWBMVFPOJPO0OJPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPYOBNFUPQQJOHWBMVFNVTISPPN.VTISPPNMBCFMQ
    GJFMETFU
    QMBCFM1SFGFSSFEEFMJWFSZUJNFJOQVUUZQFUJNFNJONBYTUFQ
    OBNFEFMJWFSZ M@LPDM@?MBCFMQ
    QMBCFM%FMJWFSZJOTUSVDUJPOTUFYUBSFBOBNFDPNNFOUTUFYUBSFBMBCFMQ
    QCVUUPO4VCNJUPSEFSCVUUPOQ
    GPSN

    *UJTBMTPQPTTJCMFUPMJNJUUIFMFOHUIPGUIFJOQVU VTJOHUIF NBYMFOHUI Q BUUSJCVUF#ZBEEJOHUIJTUPUIF UFYUBSFB Q


    FMFNFOU XFDBOMJNJUVTFSTUPDIBSBDUFST QSFWFOUJOHUIFNGSPNXSJUJOHIVHFFTTBZTUPUIFCVTZEFMJWFSZESJWFST
    JOTUFBEPGTUBZJOHGPDVTFEBOEUPUIFQPJOU

    GPSNNFUIPEQPTU
    FODUZQFBQQMJDBUJPOYXXXGPSNVSMFODPEFE
    BDUJPOIUUQTQJ[[BFYBNQMFDPNPSEFSDHJ
    QMBCFM$VTUPNFSOBNFJOQVUOBNFDVTUOBNFSFRVJSFEMBCFMQ
    QMBCFM5FMFQIPOFJOQVUUZQFUFMOBNFDVTUUFMMBCFMQ
    QMBCFM&NBJMBEESFTTJOQVUUZQFFNBJMOBNFDVTUFNBJMMBCFMQ
    GJFMETFU
    MFHFOE1J[[B4J[FMFHFOE
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[FWBMVFTNBMM4NBMMMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[FWBMVFNFEJVN.FEJVNMBCFMQ
    QMBCFMJOQVUUZQFSBEJPOBNFTJ[FWBMVFMBSHF-BSHFMBCFMQ
    GJFMETFU
    GJFMETFU
    MFHFOE1J[[B5PQQJOHTMFHFOE
    QMBCFMJOQVUUZQFDIFDLCPYOBNFUPQQJOHWBMVFCBDPO#BDPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPYOBNFUPQQJOHWBMVFDIFFTF&YUSB$IFFTFMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPYOBNFUPQQJOHWBMVFPOJPO0OJPOMBCFMQ
    QMBCFMJOQVUUZQFDIFDLCPYOBNFUPQQJOHWBMVFNVTISPPN.VTISPPNMBCFMQ
    GJFMETFU
    QMBCFM1SFGFSSFEEFMJWFSZUJNFJOQVUUZQFUJNFNJONBYTUFQ
    OBNFEFMJWFSZSFRVJSFEMBCFMQ
    QMBCFM%FMJWFSZJOTUSVDUJPOTUFYUBSFBOBNFDPNNFOUT
    H<SG@IBOCUFYUBSFBMBCFMQ
    QCVUUPO4VCNJUPSEFSCVUUPOQ
    GPSN

       ;N?AILC?M

    .PTUMZGPSIJTUPSJDBMSFBTPOT FMFNFOUTJOUIJTTFDUJPOGBMMJOUPTFWFSBMPWFSMBQQJOH CVUTVCUMZEJЗFSFOU


    DBUFHPSJFTJO
    BEEJUJPOUPUIFVTVBMPOFTMJLF ЙPXDPOUFOU Q QISBTJOHDPOUFOU Q BOE JOUFSBDUJWFDPOUFOU Q 

    "OVNCFSPGUIFFMFNFOUTBSF @ILG ;MMI=C;N?>?F?G?HNM XIJDINFBOTUIFZDBOIBWFB GPSNPXOFS Q BOE UP


    FYQPTFUIJT IBWFB GPSN Q DPOUFOUBUUSJCVUFXJUIBNBUDIJOH GPSN Q *%-BUUSJCVUF
    Y CVUUPO Q GJFMETFU Q JOQVU Q LFZHFO Q MBCFM Q NFUFS Q PCKFDU Q PVUQVU Q QSPHSFTT Q
    TFMFDU Q UFYUBSFB Q

    5IF GPSNBTTPDJBUFEFMFNFOUT Q GBMMJOUPTFWFSBMTVCDBUFHPSJFT

    (BLM>=>E>F>GML
    %FOPUFTFMFNFOUTUIBUBSFMJTUFEJOUIF '*%FMFNFOUT Q BOE "$+,FMFNFOUT Q "1*T
    Y CVUUPO Q GJFMETFU Q JOQVU Q LFZHFO Q PCKFDU Q PVUQVU Q TFMFDU Q UFYUBSFB Q

    
    (:;>E:;E>>E>F>GML
    %FOPUFTFMFNFOUTUIBUDBOCFBTTPDJBUFEXJUI MBCFM Q FMFNFOUT
    Y CVUUPO Q JOQVU Q LFZHFO Q NFUFS Q PVUQVU Q QSPHSFTT Q TFMFDU Q UFYUBSFB Q

    /N;FBMM:;E>>E>F>GML
    %FOPUFTFMFNFOUTUIBUDBOCFVTFEGPS DPOTUSVDUJOHUIFGPSNEBUBTFU Q XIFOB GPSN Q FMFNFOUJT
    TVCNJUUFE Q 
    Y CVUUPO Q JOQVU Q LFZHFO Q PCKFDU Q TFMFDU Q UFYUBSFB Q

    .>L>MM:;E>>E>F>GML
    %FOPUFTFMFNFOUTUIBUDBOCFBЗFDUFEXIFOB GPSN Q FMFNFOUJT SFTFU Q 
    Y JOQVU Q LFZHFO Q PVUQVU Q TFMFDU Q UFYUBSFB Q

    *OBEEJUJPO TPNF TVCNJUUBCMFFMFNFOUT Q DBOCF EFQFOEJOHPOUIFJSBUUSJCVUFT <ONNIHM5IFQSPTFCFMPXEFИOFT


    XIFOBOFMFNFOUJTBCVUUPO4PNFCVUUPOTBSFTQFDJИDBMMZ MO<GCN<ONNIHM

    *HM> 0A> H;C><M I >E>F>GMBL:ELH: ?HKF


    :LLH<B:M>=>E>F>GM I :G=<:G PBMAMA>NL>H?:
    LNBM:;E> IEN@BG I I:KM:D>BG ?HKFLN;FBLLBHG I

       0B? AJMH ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    'MPXDPOUFOU Q CVUXJUIOP GPSN Q FMFNFOUEFTDFOEBOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    BDDFQUDIBSTFU Q
    BDUJPO Q
    BVUPDPNQMFUF Q
    FODUZQF Q
    NFUIPE Q
    OBNF Q
    OPWBMJEBUF Q
    UBSHFU Q

    +)CHN?L@;=?

    <0WFSSJEF#VJMUJOT>
    JOUFSGBDF &2+*$JMH#G@H@IO  )5.-&MFNFOU \
    BUUSJCVUF%0.4USJOH BDDFQU$IBSTFU
    BUUSJCVUF%0.4USJOH BDUJPO
    BUUSJCVUFCPPMFBO BVUPDPNQMFUF
    BUUSJCVUF%0.4USJOH FODUZQF
    BUUSJCVUF%0.4USJOH NFUIPE
    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUFCPPMFBO OP7BMJEBUF
    BUUSJCVUF%0.4USJOH UBSHFU

    SFBEPOMZBUUSJCVUF )5.-'PSN$POUSPMT$PMMFDUJPO FMFNFOUT


    SFBEPOMZBUUSJCVUFMPOH MFOHUI
    DBMMFSHFUUFSBOZ JUFN JOVOTJHOFEMPOHJOEFY
    
    DBMMFSHFUUFSBOZ OBNFE*UFN JO%0.4USJOHOBNF
    

    WPJE TVCNJU
    
    WPJE SFTFU
    
    CPPMFBO DIFDL7BMJEJUZ
    

    
    WPJE EJTQBUDI'PSN*OQVU
    
    WPJE EJTQBUDI'PSN$IBOHF
    
    ^

    5IF GPSN Q FMFNFOU SFQSFTFOUT Q BDPMMFDUJPOPG GPSNBTTPDJBUFEFMFNFOUT Q TPNFPGXIJDIDBOSFQSFTFOUFEJUBCMF
    WBMVFTUIBUDBOCFTVCNJUUFEUPBTFSWFSGPSQSPDFTTJOH

    5IF <>>@KO >C<MN@O BUUSJCVUFHJWFTUIFDIBSBDUFSFODPEJOHTUIBUBSFUPCFVTFEGPSUIFTVCNJTTJPO*GTQFDJИFE UIF


    WBMVFNVTUCFBO PSEFSFETFUPGVOJRVFTQBDFTFQBSBUFEUPLFOT Q BOEFBDIUPLFONVTUCFBO "4$**DBTF
    JOTFOTJUJWF Q NBUDIGPSUIF QSFGFSSFE.*.&OBNF Q PGBO "4$**DPNQBUJCMFDIBSBDUFSFODPEJOH Q  <*"/"$)"34&5> Q

    5IF I<H@ BUUSJCVUFSFQSFTFOUTUIF GPSN Q TOBNFXJUIJOUIF GPSNT Q DPMMFDUJPO5IFWBMVFNVTUOPUCFUIFFNQUZ


    TUSJOH BOEUIFWBMVFNVTUCFVOJRVFBNPOHTUUIF GPSN Q FMFNFOUTJOUIF GPSNT Q DPMMFDUJPOUIBUJUJTJO JGBOZ

    5IF <POJ>JHKG@O@ BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q 5IFBUUSJCVUFIBTUXPTUBUFT5IF PO LFZXPSENBQTUPUIF


    IH TUBUF BOEUIF PGG LFZXPSENBQTUPUIF I\ TUBUF5IFBUUSJCVUFNBZBMTPCFPNJUUFE5IF <8BB8=6E0;D43450D;C JT
    UIF PO Q TUBUF5IF PЗ Q TUBUFJOEJDBUFTUIBUCZEFGBVMU JOQVU Q FMFNFOUTJOUIFGPSNXJMMIBWFUIFJS SFTVMUJOH
    BVUPDPNQMFUJPOTUBUF Q TFUUP >OUIF PO Q TUBUFJOEJDBUFTUIBUCZEFGBVMU JOQVU Q FMFNFOUTJOUIFGPSNXJMMIBWF
    UIFJS SFTVMUJOHBVUPDPNQMFUJPOTUBUF Q TFUUP >=

    5IF BDUJPO Q FODUZQF Q NFUIPE Q OPWBMJEBUF Q BOE UBSHFU Q BUUSJCVUFTBSF BUUSJCVUFTGPSGPSN
    TVCNJTTJPO Q 

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    ?HKF @G@H@ION
    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIFGPSNDPOUSPMTJOUIFGPSN FYDMVEJOHJNBHFCVUUPOTGPSIJTUPSJDBM
    SFBTPOT
    

    ?HKF G@IBOC K


    3FUVSOTUIFOVNCFSPGGPSNDPOUSPMTJOUIFGPSN FYDMVEJOHJNBHFCVUUPOTGPSIJTUPSJDBMSFBTPOT
    

    >E>F>GM  ?HKF DO@H K BG=>Q


    ?HKF7BG=>Q8
    ?HKFBG=>Q
    3FUVSOTUIF 8=34GUIFMFNFOUJOUIFGPSN FYDMVEJOHJNBHFCVUUPOTGPSIJTUPSJDBMSFBTPOT
    

    >E>F>GM  ?HKF I<H@?'O@H K G:F>


    ?HKF7G:F>8
    ?HKFG:F>
    3FUVSOTUIFGPSNDPOUSPMJOUIFGPSNXJUIUIFHJWFO*%PS OBNF Q FYDMVEJOHJNBHFCVUUPOTGPSIJTUPSJDBM
    SFBTPOT
    
    0ODFBOFMFNFOUIBTCFFOSFGFSFODFEVTJOHBQBSUJDVMBSOBNF UIBUOBNFXJMMDPOUJOVFCFJOHBWBJMBCMFBT
    BXBZUPSFGFSFODFUIBUFMFNFOUJOUIJTNFUIPE FWFOJGUIFFMFNFOUTBDUVBM*%PS OBNF Q DIBOHFT GPSBT
    MPOHBTUIFFMFNFOUSFNBJOTJOUIF %PDVNFOU Q 
    *GUIFSFBSFNVMUJQMFNBUDIJOHJUFNT UIFOB /PEF-JTU Q PCKFDUDPOUBJOJOHBMMUIPTFFMFNFOUTJTSFUVSOFE
    3FUVSOTOVMMJGOPFMFNFOUXJUIUIBU *% Q PS OBNF Q DPVMECFGPVOE

    ?HKF NP=HDO K 


    4VCNJUTUIFGPSN

    ?HKF M@N@O K 


    3FTFUTUIFGPSN

    ?HKF >C@>F4<GD?DOT K 


    3FUVSOTUSVFJGUIFGPSNTDPOUSPMTBSFBMMWBMJEPUIFSXJTF SFUVSOTGBMTF

    
    ?HKF ?DNK<O>C$JMH'IKPO K 
    %JTQBUDIFTB GPSNJOQVU FWFOUBUBMMUIFGPSNDPOUSPMT

    ?HKF ?DNK<O>C$JMH!C<IB@ K 


    %JTQBUDIFTB GPSNDIBOHF FWFOUBUBMMUIFGPSNDPOUSPMT

    5IF <POJ>JHKG@O@ BOE I<H@ *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF <>>@KO!C<MN@O *%-BUUSJCVUFNVTU SFЙFDU Q UIF BDDFQUDIBSTFU Q DPOUFOUBUUSJCVUF

    5IF @G@H@ION *%-BUUSJCVUFNVTUSFUVSOBO )5.-'PSN$POUSPMT$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTF
    ИMUFSNBUDIFT MJTUFEFMFNFOUT Q XIPTF GPSNPXOFS Q JTUIF GPSN Q FMFNFOU XJUIUIFFYDFQUJPOPG JOQVU Q
    FMFNFOUTXIPTF UZQF Q BUUSJCVUFJTJOUIF *NBHF#VUUPO Q TUBUF XIJDINVTU GPSIJTUPSJDBMSFBTPOT CFFYDMVEFE
    GSPNUIJTQBSUJDVMBSDPMMFDUJPO

    5IF G@IBOC *%-BUUSJCVUFNVTUSFUVSOUIFOVNCFSPGOPEFT SFQSFTFOUFE Q CZUIF FMFNFOUT Q DPMMFDUJPO

    5IF JOEJDFTPGUIFTVQQPSUFEJOEFYFEQSPQFSUJFT BUBOZJOTUBOUBSFUIFJOEJDFTTVQQPSUFECZUIFPCKFDUSFUVSOFECZUIF


    FMFNFOUT Q BUUSJCVUFBUUIBUJOTUBOU

    5IF DO@HBG=>Q NFUIPENVTUSFUVSOUIFWBMVFSFUVSOFECZUIFNFUIPEPGUIFTBNFOBNFPOUIF FMFNFOUT Q


    DPMMFDUJPO XIFOJOWPLFEXJUIUIFTBNFBSHVNFOU

    &BDI GPSN Q FMFNFOUIBTBNBQQJOHPGOBNFTUPFMFNFOUTDBMMFEUIF J;MNH;G?MG;J*UJTVTFEUPQFSTJTUOBNFT


    PGDPOUSPMTFWFOXIFOUIFZDIBOHFOBNFT

    5IF OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT BSFUIFVOJPOPGUIFOBNFTDVSSFOUMZTVQQPSUFECZUIFPCKFDUSFUVSOFE


    CZUIF FMFNFOUT Q BUUSJCVUF BOEUIFOBNFTDVSSFOUMZJOUIF QBTUOBNFTNBQ Q 

    5IF I<H@?'O@HG:F> NFUIPE XIFODBMMFE NVTUSVOUIFGPMMPXJOHTUFQT

     *G =0<4 JTPOFPGUIF OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT PGUIFPCKFDUSFUVSOFECZUIF FMFNFOUT Q


    BUUSJCVUF UIFOSVOUIFTFTVCTUFQT

     -FU 20=3830C4 CFUIFPCKFDUSFUVSOFECZUIF OBNFE*UFN


    Q NFUIPEPOUIFPCKFDUSFUVSOFECZUIF
    FMFNFOUT Q BUUSJCVUFXIFOQBTTFEUIF =0<4 BSHVNFOU

     *G 20=3830C4 JTBOFMFNFOU UIFOBEEBNBQQJOHGSPN =0<4 UP 20=3830C4 JOUIF GPSN Q FMFNFOUT


    QBTUOBNFTNBQ Q SFQMBDJOHUIFQSFWJPVTFOUSZXJUIUIFTBNFOBNF JGBOZ

     3FUVSO 20=3830C4 BOEBCPSUUIFTFTUFQT

     0UIFSXJTF =0<4 JTUIFOBNFPGPOFPGUIFFOUSJFTJOUIF GPSN Q FMFNFOUT QBTUOBNFTNBQ Q SFUVSOUIF


    PCKFDUBTTPDJBUFEXJUI =0<4 JOUIBUNBQ

    *GBOFMFNFOUMJTUFEJOUIF GPSN Q FMFNFOUT QBTUOBNFTNBQ Q JTSFNPWFEGSPNUIF %PDVNFOU Q UIFOJUTFOUSJFT
    NVTUCFSFNPWFEGSPNUIFNBQ

    5IF NP=HDO NFUIPE XIFOJOWPLFE NVTU TVCNJU Q UIF GPSN Q FMFNFOUGSPNUIF GPSN Q FMFNFOUJUTFMG XJUIUIF
    B2A8?C43BD1<8C ЙBHTFU

    5IF M@N@O NFUIPE XIFOJOWPLFE NVTUSVOUIFGPMMPXJOHTUFQT

     *GUIF GPSN Q FMFNFOUJTNBSLFEBT ;>2:435>AA4B4C ?  UIFOBCPSUUIFTFTUFQT

     .BSLUIF GPSN Q FMFNFOUBT FI=E?>@ILL?M?N

     3FTFU Q UIF GPSN Q FMFNFOU

     6ONBSLUIF GPSN Q FMFNFOUBT ;>2:435>AA4B4C ?  

    *GUIF >C@>F4<GD?DOT NFUIPEJTJOWPLFE UIFVTFSBHFOUNVTU TUBUJDBMMZWBMJEBUFUIFDPOTUSBJOUT Q PGUIF GPSN Q


    FMFNFOU BOESFUVSOUSVFJGUIFDPOTUSBJOUWBMJEBUJPOSFUVSOB ?>B8C8E4 SFTVMU BOEGBMTFJGJUSFUVSOFEB =460C8E4 SFTVMU

    
    *GUIF ?DNK<O>C$JMH'IKPO NFUIPEJTJOWPLFE UIFVTFSBHFOUNVTU CSPBEDBTU GPSNJOQVU FWFOUT Q GSPNUIF
    GPSN Q FMFNFOU

    *GUIF ?DNK<O>C$JMH!C<IB@ NFUIPEJTJOWPLFE UIFVTFSBHFOUNVTU CSPBEDBTU GPSNDIBOHF FWFOUT Q GSPNUIF


    GPSN Q FMFNFOU

    5IJTFYBNQMFTIPXTUXPTFBSDIGPSNT

    GPSNBDUJPOIUUQXXXHPPHMFDPNTFBSDINFUIPEHFU
    MBCFM(PPHMFJOQVUUZQFTFBSDIOBNFRMBCFMJOQVUUZQFTVCNJU
    WBMVF4FBSDI
    GPSN
    GPSNBDUJPOIUUQXXXCJOHDPNTFBSDINFUIPEHFU
    MBCFM#JOHJOQVUUZQFTFBSDIOBNFRMBCFMJOQVUUZQFTVCNJU
    WBMVF4FBSDI
    GPSN

       0B? AD@G?N@O ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    4FDUJPOJOHSPPU Q 
    -JTUFE Q GPSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    0QUJPOBMMZB MFHFOE Q FMFNFOU GPMMPXFECZ ЙPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    EJTBCMFE Q
    GPSN Q
    OBNF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*$D@G?1@O#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO EJTBCMFE
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    BUUSJCVUF%0.4USJOH OBNF

    SFBEPOMZBUUSJCVUF%0.4USJOH UZQF

    SFBEPOMZBUUSJCVUF )5.-'PSN$POUSPMT$PMMFDUJPO FMFNFOUT

    SFBEPOMZBUUSJCVUFCPPMFBO XJMM7BMJEBUF
    SFBEPOMZBUUSJCVUF 7BMJEJUZ4UBUF WBMJEJUZ
    SFBEPOMZBUUSJCVUF%0.4USJOH WBMJEBUJPO.FTTBHF
    CPPMFBO DIFDL7BMJEJUZ
    
    WPJE TFU$VTUPN7BMJEJUZ JO%0.4USJOHFSSPS
    
    ^

    5IF GJFMETFU Q FMFNFOU SFQSFTFOUT Q BTFUPGGPSNDPOUSPMTPQUJPOBMMZHSPVQFEVOEFSBDPNNPOOBNF

    5IFOBNFPGUIFHSPVQJTHJWFOCZUIFИSTU MFHFOE Q FMFNFOUUIBUJTBDIJMEPGUIF GJFMETFU Q FMFNFOU JGBOZ5IF


    SFNBJOEFSPGUIFEFTDFOEBOUTGPSNUIFHSPVQ

    5IF ?DN<=G@? BUUSJCVUF XIFOTQFDJИFE DBVTFTBMMUIFGPSNDPOUSPMEFTDFOEBOUTPGUIF GJFMETFU Q FMFNFOU


    FYDMVEJOHUIPTFUIBUBSFEFTDFOEBOUTPGUIF GJFMETFU Q FMFNFOUTИSTU MFHFOE Q FMFNFOUDIJME JGBOZ UPCF
    EJTBCMFE Q 

    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF GJFMETFU Q FMFNFOUXJUIJUT GPSNPXOFS Q 5IF OBNF Q
    BUUSJCVUFSFQSFTFOUTUIFFMFNFOUTOBNF

    
    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    [>E=L>M OTK@
    3FUVSOTUIFTUSJOHИFMETFU

    [>E=L>M @G@H@ION K


    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIFGPSNDPOUSPMTJOUIFFMFNFOU

    5IF ?DN<=G@? *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    5IF OTK@ *%-BUUSJCVUFNVTUSFUVSOUIFTUSJOHGJFMETFU

    5IF @G@H@ION *%-BUUSJCVUFNVTUSFUVSOBO )5.-'PSN$POUSPMT$PMMFDUJPO Q SPPUFEBUUIF GJFMETFU Q FMFNFOU


    XIPTFИMUFSNBUDIFT MJTUFEFMFNFOUT Q 

    5IF XJMM7BMJEBUF Q WBMJEJUZ Q BOE WBMJEBUJPO.FTTBHF Q BUUSJCVUFT BOEUIF DIFDL7BMJEJUZ
    Q BOE
    TFU$VTUPN7BMJEJUZ
    Q NFUIPET BSFQBSUPGUIF DPOTUSBJOUWBMJEBUJPO"1* Q 

    IHMNL;CHNP;FC>;NCIH GJFMETFU Q FMFNFOUTBSFBMXBZT CBSSFEGSPNDPOTUSBJOUWBMJEBUJPO Q 

    5IFGPMMPXJOHTOJQQFUTIPXTBИFMETFUXJUIBDIFDLCPYJOUIFMFHFOEUIBUDPOUSPMTXIFUIFSPSOPUUIFИFMETFUJT
    FOBCMFE5IFDPOUFOUTPGUIFИFMETFUDPOTJTUPGUXPSFRVJSFEUFYUИFMETBOEBOPQUJPOBMZFBSNPOUIDPOUSPM

    GJFMETFUOBNFDMVCGJFMETEJTBCMFE
    MFHFOEMBCFM
    JOQVUUZQFDIFDLCPYOBNFDMVCPODIBOHFGPSNDMVCGJFMETEJTBCMFEDIFDLFE
    6TF$MVC$BSE
    MBCFMMFHFOE
    QMBCFM/BNFPODBSEJOQVUOBNFDMVCOBNFSFRVJSFEMBCFMQ
    QMBCFM$BSEOVNCFSJOQVUOBNFDMVCOVNSFRVJSFEQBUUFSO<> MBCFMQ
    QMBCFM&YQJSZEBUFJOQVUOBNFDMVCFYQUZQFNPOUIMBCFMQ
    GJFMETFU

       0B? G@B@I? ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TUIFИSTUDIJMEPGB GJFMETFU Q FMFNFOU

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+**@B@I?#G@H@IO  )5.-&MFNFOU \


    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    ^

    5IF MFHFOE Q FMFNFOU SFQSFTFOUT Q BDBQUJPOGPSUIFSFTUPGUIFDPOUFOUTPGUIF MFHFOE Q FMFNFOUTQBSFOU
    GJFMETFU Q FMFNFOU JGBOZ

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    E>@>G= AJMH K
    3FUVSOTUIFFMFNFOUT GPSN Q FMFNFOU JGBOZ PSOVMMPUIFSXJTF

    5IF AJMH *%-BUUSJCVUFTCFIBWJPSEFQFOETPOXIFUIFSUIF MFHFOE Q FMFNFOUJTJOB GJFMETFU Q FMFNFOUPSOPU*G


    UIF MFHFOE Q IBTB GJFMETFU Q FMFNFOUBTJUTQBSFOU UIFOUIF GPSN Q *%-BUUSJCVUFNVTUSFUVSOUIFTBNFWBMVFBT
    UIF GPSN Q *%-BUUSJCVUFPOUIBU GJFMETFU Q FMFNFOU0UIFSXJTF JUNVTUSFUVSOOVMM

    
       0B? G<=@G ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    *OUFSBDUJWFDPOUFOU Q 
    'PSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q CVUXJUIOPEFTDFOEBOU MBCFMBCMFGPSNBTTPDJBUFEFMFNFOUT Q VOMFTTJUJTUIF
    FMFNFOUT MBCFMFEDPOUSPM Q BOEOPEFTDFOEBOU MBCFM Q FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    GPSN Q
    GPS Q

    +)CHN?L@;=?

    JOUFSGBDF &2+**<=@G#G@H@IO  )5.-&MFNFOU \


    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    BUUSJCVUF%0.4USJOH IUNM'PS
    SFBEPOMZBUUSJCVUF )5.-&MFNFOU DPOUSPM
    ^

    5IF MBCFM Q SFQSFTFOUT Q BDBQUJPOJOBVTFSJOUFSGBDF5IFDBQUJPODBOCFBTTPDJBUFEXJUIBTQFDJИDGPSNDPOUSPM


    LOPXOBTUIF MBCFM Q FMFNFOUT F;<?F?>=IHNLIF FJUIFSVTJOH GPS Q BUUSJCVUF PSCZQVUUJOHUIFGPSNDPOUSPMJOTJEF
    UIF MBCFM Q FMFNFOUJUTFMG

    &YDFQUXIFSFPUIFSXJTFTQFDJИFECZUIFGPMMPXJOHSVMFT B MBCFM Q FMFNFOUIBTOP MBCFMFEDPOUSPM Q 

    5IF AJM BUUSJCVUFNBZCFTQFDJИFEUPJOEJDBUFBGPSNDPOUSPMXJUIXIJDIUIFDBQUJPOJTUPCFBTTPDJBUFE*GUIFBUUSJCVUF


    JTTQFDJИFE UIFBUUSJCVUFTWBMVFNVTUCFUIF*%PGB MBCFMBCMFGPSNBTTPDJBUFEFMFNFOU Q JOUIFTBNF %PDVNFOU Q BT
    UIF MBCFM Q FMFNFOU *GUIFBUUSJCVUFJTTQFDJИFEBOEUIFSFJTBOFMFNFOUJOUIF %PDVNFOU Q XIPTF*%JTFRVBMUPUIF
    WBMVFPGUIF GPS Q BUUSJCVUF BOEUIFИSTUTVDIFMFNFOUJTB MBCFMBCMFGPSNBTTPDJBUFEFMFNFOU Q UIFOUIBUFMFNFOU
    JTUIF MBCFM Q FMFNFOUT MBCFMFEDPOUSPM Q 

    *GUIF GPS Q BUUSJCVUFJTOPUTQFDJИFE CVUUIF MBCFM Q FMFNFOUIBTB MBCFMBCMFGPSNBTTPDJBUFEFMFNFOU Q
    EFTDFOEBOU UIFOUIFИSTUTVDIEFTDFOEBOUJO USFFPSEFS Q JTUIF MBCFM Q FMFNFOUT MBCFMFEDPOUSPM Q 

    5IF MBCFM Q FMFNFOUTFYBDUEFGBVMUQSFTFOUBUJPOBOECFIBWJPS JOQBSUJDVMBSXIBUJUT BDUJWBUJPOCFIBWJPS Q NJHIUCF


    JGBOZUIJOH TIPVMENBUDIUIFQMBUGPSNTMBCFMCFIBWJPS

    'PSFYBNQMF POQMBUGPSNTXIFSFDMJDLJOHBDIFDLCPYMBCFMDIFDLTUIFDIFDLCPY DMJDLJOHUIF MBCFM Q JOUIF


    GPMMPXJOHTOJQQFUDPVMEUSJHHFSUIFVTFSBHFOUUP SVOTZOUIFUJDDMJDLBDUJWBUJPOTUFQT Q POUIF JOQVU Q FMFNFOU
    BTJGUIFFMFNFOUJUTFMGIBECFFOUSJHHFSFECZUIFVTFS

    MBCFMJOQVUUZQFDIFDLCPYOBNFMPTU-PTUMBCFM

    0OPUIFSQMBUGPSNT UIFCFIBWJPSNJHIUCFKVTUUPGPDVTUIFDPOUSPM PSEPOPUIJOH

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    E:;>E >JIOMJG K
    3FUVSOTUIFGPSNDPOUSPMUIBUJTBTTPDJBUFEXJUIUIJTFMFNFOU

    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF MBCFM Q FMFNFOUXJUIJUT GPSNPXOFS Q 

    5IF COHG$JM *%-BUUSJCVUFNVTU SFЙFDU Q UIF GPS Q DPOUFOUBUUSJCVUF

    5IF >JIOMJG *%-BUUSJCVUFNVTUSFUVSOUIF MBCFM Q FMFNFOUT MBCFMFEDPOUSPM Q JGBOZ PSOVMMJGUIFSFJTOUPOF

    
    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    <HGMKHE G<=@GN
    3FUVSOTB /PEF-JTU Q PGBMMUIF MBCFM Q FMFNFOUTUIBUUIFGPSNDPOUSPMJTBTTPDJBUFEXJUI

    -BCFMBCMFGPSNBTTPDJBUFEFMFNFOUT Q IBWFB /PEF-JTU Q PCKFDUBTTPDJBUFEXJUIUIFNUIBUSFQSFTFOUTUIFMJTUPG


    MBCFM Q FMFNFOUT JO USFFPSEFS Q XIPTF MBCFMFEDPOUSPM Q JTUIFFMFNFOUJORVFTUJPO5IF G<=@GN *%-BUUSJCVUFPG
    MBCFMBCMFGPSNBTTPDJBUFEFMFNFOUT Q POHFUUJOH NVTUSFUVSOUIBU /PEF-JTU Q PCKFDU

    5IFGPMMPXJOHFYBNQMFTIPXTUISFFGPSNDPOUSPMTFBDIXJUIBMBCFM UXPPGXIJDIIBWFTNBMMUFYUTIPXJOHUIF
    SJHIUGPSNBUGPSVTFSTUPVTF

    QMBCFM'VMMOBNFJOQVUOBNFGOTNBMM'PSNBU'JSTU-BTUTNBMMMBCFMQ
    QMBCFM"HFJOQVUOBNFBHFUZQFOVNCFSNJOMBCFMQ
    QMBCFM1PTUDPEFJOQVUOBNFQDTNBMM'PSNBU"#$%TNBMMMBCFMQ

       0B? DIKPO ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    *GUIF UZQF Q BUUSJCVUFJT =>C JOUIF )JEEFO Q TUBUF *OUFSBDUJWFDPOUFOU Q 
    -JTUFE Q MBCFMBCMF Q TVCNJUUBCMF Q BOE SFTFUUBCMF Q GPSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    BDDFQU Q
    BMU Q
    BVUPDPNQMFUF Q
    BVUPGPDVT Q
    DIFDLFE Q
    EJTBCMFE Q
    GPSN Q
    GPSNBDUJPO Q
    GPSNFODUZQF Q
    GPSNNFUIPE Q
    GPSNOPWBMJEBUF Q
    GPSNUBSHFU Q
    IFJHIU Q
    MJTU Q
    NBY Q
    NBYMFOHUI Q
    NJO Q
    NVMUJQMF Q
    OBNF Q
    QBUUFSO Q
    QMBDFIPMEFS Q
    SFBEPOMZ Q
    SFRVJSFE Q
    TJ[F Q
    TSD Q
    TUFQ Q
    UZQF Q
    WBMVF Q
    XJEUI Q

    
    +)CHN?L@;=?

    JOUFSGBDF &2+*'IKPO#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH BDDFQU
    BUUSJCVUF%0.4USJOH BMU
    BUUSJCVUFCPPMFBO BVUPDPNQMFUF
    BUUSJCVUFCPPMFBO BVUPGPDVT
    BUUSJCVUFCPPMFBO EFGBVMU$IFDLFE
    BUUSJCVUFCPPMFBO DIFDLFE
    BUUSJCVUFCPPMFBO EJTBCMFE
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    SFBEPOMZBUUSJCVUF 'JMF-JTU GJMFT
    BUUSJCVUF%0.4USJOH GPSN"DUJPO
    BUUSJCVUF%0.4USJOH GPSN&ODUZQF
    BUUSJCVUF%0.4USJOH GPSN.FUIPE
    BUUSJCVUFCPPMFBO GPSN/P7BMJEBUF
    BUUSJCVUF%0.4USJOH GPSN5BSHFU
    BUUSJCVUF%0.4USJOH IFJHIU
    BUUSJCVUFCPPMFBO JOEFUFSNJOBUF
    SFBEPOMZBUUSJCVUF )5.-&MFNFOU MJTU
    BUUSJCVUF%0.4USJOH NBY
    BUUSJCVUFMPOH NBY-FOHUI
    BUUSJCVUF%0.4USJOH NJO
    BUUSJCVUFCPPMFBO NVMUJQMF
    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUF%0.4USJOH QBUUFSO
    BUUSJCVUF%0.4USJOH QMBDFIPMEFS
    BUUSJCVUFCPPMFBO SFBE0OMZ
    BUUSJCVUFCPPMFBO SFRVJSFE
    BUUSJCVUFVOTJHOFEMPOH TJ[F
    BUUSJCVUF%0.4USJOH TSD
    BUUSJCVUF%0.4USJOH TUFQ
    BUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH EFGBVMU7BMVF
    BUUSJCVUF%0.4USJOH WBMVF
    BUUSJCVUF %BUF WBMVF"T%BUF
    BUUSJCVUFEPVCMF WBMVF"T/VNCFS
    SFBEPOMZBUUSJCVUF )5.-0QUJPO&MFNFOU TFMFDUFE0QUJPO
    BUUSJCVUF%0.4USJOH XJEUI

    WPJE TUFQ6Q JOPQUJPOBMMPOHO


    
    WPJE TUFQ%PXO JOPQUJPOBMMPOHO
    

    SFBEPOMZBUUSJCVUFCPPMFBO XJMM7BMJEBUF
    SFBEPOMZBUUSJCVUF 7BMJEJUZ4UBUF WBMJEJUZ
    SFBEPOMZBUUSJCVUF%0.4USJOH WBMJEBUJPO.FTTBHF
    CPPMFBO DIFDL7BMJEJUZ
    
    WPJE TFU$VTUPN7BMJEJUZ JO%0.4USJOHFSSPS
    

    SFBEPOMZBUUSJCVUF /PEF-JTU MBCFMT

    WPJE TFMFDU
    
    BUUSJCVUFVOTJHOFEMPOH TFMFDUJPO4UBSU
    BUUSJCVUFVOTJHOFEMPOH TFMFDUJPO&OE
    WPJE TFU4FMFDUJPO3BOHF JOVOTJHOFEMPOHTUBSU JOVOTJHOFEMPOHFOE
    
    ^

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BUZQFEEBUBИFME VTVBMMZXJUIBGPSNDPOUSPMUPBMMPXUIFVTFSUPFEJUUIFEBUB

    5IF OTK@ BUUSJCVUFDPOUSPMTUIFEBUBUZQF BOEBTTPDJBUFEDPOUSPM


    PGUIFFMFNFOU*UJTBO FOVNFSBUFEBUUSJCVUF Q 5IF
    GPMMPXJOHUBCMFMJTUTUIFLFZXPSETBOETUBUFTGPSUIFBUUSJCVUFǡUIFLFZXPSETJOUIFMFGUDPMVNONBQUPUIFTUBUFTJO
    UIFDFMMJOUIFTFDPOEDPMVNOPOUIFTBNFSPXBTUIFLFZXPSE

    
    '?SQIL> /N;N? ;N;NSJ? IHNLIFNSJ?

    CD??@I )JEEFO Q "OBSCJUSBSZTUSJOH OB


    O@SO 5FYU Q 5FYUXJUIOPMJOFCSFBLT 5FYUИFME
    N@<M>C 4FBSDI Q 5FYUXJUIOPMJOFCSFBLT 4FBSDIИFME
    Q
    O@G 5FMFQIPOF 5FYUXJUIOPMJOFCSFBLT "UFYUИFME
    Q
    PMG 63- "OBCTPMVUF*3* "UFYUИFME
    @H<DG &NBJM Q "OFNBJMBEESFTTPSMJTUPGFNBJMBEESFTTFT "UFYUИFME
    K<NNRJM? 1BTTXPSE Q 5FYUXJUIOPMJOFCSFBLT TFOTJUJWFJOGPSNBUJPO
    5FYUИFMEUIBU
    PCTDVSFTEBUBFOUSZ
    ?<O@ODH@ %BUFBOE "EBUFBOEUJNF ZFBS NPOUI EBZ IPVS NJOVUF TFDPOE GSBDUJPOPGBTFDPOE
    XJUIUIF "EBUFBOEUJNF
    5JNF Q UJNF[POFTFUUP65$ DPOUSPM
    ?<O@ %BUF Q "EBUF ZFBS NPOUI EBZ
    XJUIOPUJNF[POF "EBUFDPOUSPM
    HJIOC .POUI Q "EBUFDPOTJTUJOHPGBZFBSBOEBNPOUIXJUIOPUJNF[POF "NPOUIDPOUSPM
    R@@F 8FFL Q "EBUFDPOTJTUJOHPGBXFFLZFBSOVNCFSBOEBXFFLOVNCFSXJUIOPUJNF[POF "XFFLDPOUSPM
    ODH@ 5JNF Q "UJNF IPVS NJOVUF TFDPOET GSBDUJPOBMTFDPOET
    XJUIOPUJNF[POF "UJNFDPOUSPM
    ?<O@ODH@ -PDBM%BUF "EBUFBOEUJNF ZFBS NPOUI EBZ IPVS NJOVUF TFDPOE GSBDUJPOPGBTFDPOE
    XJUIOP "EBUFBOEUJNF
    GJ><G BOE5JNF Q UJNF[POF DPOUSPM
    IPH=@M /VNCFS Q "OVNFSJDBMWBMVF "UFYUИFMEPSTQJOOFS
    DPOUSPM
    M<IB@ 3BOHF Q "OVNFSJDBMWBMVF XJUIUIFFYUSBTFNBOUJDUIBUUIFFYBDUWBMVFJTOPUJNQPSUBOU "TMJEFSDPOUSPMPS
    TJNJMBS
    >JGJM $PMPS Q "OT3(#DPMPSXJUICJUSFE HSFFO BOECMVFDPNQPOFOUT "DPMPSXFMM
    >C@>F=JS $IFDLCPY Q "TFUPG[FSPPSNPSFWBMVFTGSPNBQSFEFИOFEMJTU "DIFDLCPY
    M<?DJ 3BEJP "OFOVNFSBUFEWBMVF "SBEJPCVUUPO
    #VUUPO Q
    ADG@ 'JMF6QMPBE Q ;FSPPSNPSFИMFTFBDIXJUIB .*.&UZQF Q BOEPQUJPOBMMZBИMFOBNF "MBCFMBOEBCVUUPO
    NP=HDO 4VCNJU "OFOVNFSBUFEWBMVF XJUIUIFFYUSBTFNBOUJDUIBUJUNVTUCFUIFMBTUWBMVFTFMFDUFEBOE "CVUUPO
    #VUUPO Q JOJUJBUFTGPSNTVCNJTTJPO
    DH<B@ *NBHF "DPPSEJOBUF SFMBUJWFUPBQBSUJDVMBSJNBHFTTJ[F XJUIUIFFYUSBTFNBOUJDUIBUJUNVTUCF &JUIFSBDMJDLBCMF
    #VUUPO Q UIFMBTUWBMVFTFMFDUFEBOEJOJUJBUFTGPSNTVCNJTTJPO JNBHF PSBCVUUPO
    M@N@O 3FTFU OB "CVUUPO
    #VUUPO Q
    =POOJI #VUUPO Q OB "CVUUPO

    5IF <8BB8=6E0;D43450D;C JTUIF 5FYU Q TUBUF

    8IJDIPGUIF BDDFQU Q BMU Q BVUPDPNQMFUF Q DIFDLFE Q GPSNBDUJPO Q GPSNFODUZQF Q GPSNNFUIPE Q
    GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q MJTU Q NBY Q NBYMFOHUI Q NJO Q NVMUJQMF Q QBUUFSO Q
    QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q TJ[F Q TSD Q TUFQ Q BOE XJEUI Q DPOUFOUBUUSJCVUFT UIF
    DIFDLFE Q GJMFT Q WBMVF"T%BUF Q WBMVF"T/VNCFS Q MJTU Q BOE TFMFDUFE0QUJPO Q *%-BUUSJCVUFT UIF
    TFMFDU
    Q NFUIPE UIF TFMFDUJPO4UBSU Q BOE TFMFDUJPO&OE Q *%-BUUSJCVUFT UIF TFU4FMFDUJPO3BOHF
    Q
    NFUIPE UIF TUFQ6Q
    Q BOE TUFQ%PXO
    Q NFUIPET BOEUIF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZUPBO JOQVU Q
    FMFNFOUEFQFOETPOUIFTUBUFPGJUT UZQF Q BUUSJCVUF5IFGPMMPXJOHUBCMF JTOPOOPSNBUJWFBOE TVNNBSJ[FTXIJDIPG
    UIPTFDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT NFUIPET BOEFWFOUTBQQMZUPFBDITUBUF

    $C>>?H J 0?RN J


    ! ,;MMQIL> J ;N?;H> (I=;F ;N? .;HA? J IFIL J B?=E<IR J
    "
    J
    /?;L=B J
    G;CF 0CG? J
    ;H> .;>CI 1JFI
    J J J
    1.( J
    ;N?
    0CG?
    ONNIH
    J
    0?F?JBIH? J )IHNB J
    *OG<?L
    3??E J

    0CG? J

    IHN?HN;NNLC<ON?M
    <>>@KO K u u u u u u u u u :
    <GO K u u u u u u u u u
    <POJ>JHKG@O@ K u :FT :FT :FT :FT :FT :FT :FT u
    >C@>F@? K u u u u u u u u :FT
    AJMH<>ODJI K u u u u u u u u u
    K
    AJMH@I>OTK@ u u u u u u u u u
    K
    AJMHH@OCJ? u u u u u u u u u
    AJMHIJQ<GD?<O@ K u u u u u u u u u
    AJMHO<MB@O K u u u u u u u u u
    C@DBCO K u u u u u u u u u
    GDNO K u :FT :FT u :FT :FT :FT :FT u

    
    $C>>?H J 0?RN J
    ! ,;MMQIL> J ;N?;H> (I=;F ;N? .;HA? J IFIL J B?=E<IR J
    "
    J
    /?;L=B J
    G;CF 0CG? J
    ;H> .;>CI 1JFI
    J
    1.( J
    ;N? J
    0CG?
    ONNIH J
    J
    0?F?JBIH? J )IHNB J
    *OG<?L
    3??E J

    0CG? J
    H<S K u u u u :FT :FT :FT u u
    H<SG@IBOC K u :FT :FT :FT u u u u u
    HDI K u u u u :FT :FT :FT u u
    HPGODKG@ K u u :FT u u u u u u :
    K<OO@MI K u :FT :FT :FT u u u u u
    KG<>@CJG?@M K u :FT :FT :FT u u u u u
    K
    M@<?JIGT u :FT :FT :FT :FT :FT u u u
    K
    M@LPDM@? u :FT :FT :FT :FT :FT u u :FT :
    NDU@ K u :FT :FT :FT u u u u u
    NM> K u u u u u u u u u
    NO@K K u u u u :FT :FT :FT u u
    RD?OC K u u u u u u u u u
    % (;NNLC<ON?M;H>G?NBI>M
    >C@>F@? K u u u u u u u u :FT
    K
    ADG@N u u u u u u u u u :
    Q<GP@ K EFGBVMU Q WBMVF Q WBMVF Q WBMVF Q WBMVF Q WBMVF Q WBMVF Q WBMVF Q EFGBVMUPO Q ИMFOB
    Q<GP@N"<O@ K u u u u :FT u u u u
    Q<GP@N,PH=@M K u u u u :FT :FT :FT u u
    GDNO K u :FT :FT u :FT :FT :FT :FT u
    N@G@>O@?-KODJI K u :FT :FT u :FT :FT :FT :FT u
    K
    N@G@>O u :FT :FT :FT u u u u u
    K
    N@G@>ODJI1O<MO u :FT :FT :FT u u u u u
    N@G@>ODJI#I? K u :FT :FT :FT u u u u u
    N@O1@G@>ODJI0<IB@ K u :FT :FT :FT u u u u u
    NO@K"JRI K u u u u :FT :FT :FT u u
    NO@K3K K u u u u :FT :FT :FT u u
    !P?HNM
    DIKPO K ?P?HN u :FT :FT :FT :FT :FT :FT :FT u
    K
    >C<IB@ ?P?HN u :FT :FT :FT :FT :FT :FT :FT :FT :

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFDIBOHFTTUBUF BOEXIFOUIFFMFNFOUJTИSTUDSFBUFE UIFFMFNFOUT


    SFOEFSJOHBOECFIBWJPSNVTUDIBOHFUPUIFOFXTUBUFTBDDPSEJOHMZBOEUIF P;FO?M;HCNCT;NCIH;FAILCNBG JGPOFJT
    EFИOFEGPSUIF UZQF Q BUUSJCVUFTOFXTUBUF NVTUCFJOWPLFE

    &BDI JOQVU Q FMFNFOUIBTB WBMVF Q XIJDIJTFYQPTFECZUIF WBMVF Q *%-BUUSJCVUF4PNFTUBUFTEFИOFBO
    ;FAILCNBGNI=IHP?LN;MNLCHANI;HOG<?L BO ;FAILCNBGNI=IHP?LN;HOG<?LNI;MNLCHA BO ;FAILCNBGNI
    =IHP?LN;MNLCHANI; "<O@ I<D?=N BOEBO ;FAILCNBGNI=IHP?LN; "<O@ I<D?=NNI;MNLCHA XIJDIBSFVTFECZ
    NBY Q NJO Q TUFQ Q WBMVF"T%BUF Q WBMVF"T/VNCFS Q TUFQ%PXO
    Q BOE TUFQ6Q
    Q 

    &BDI JOQVU Q FMFNFOUIBTBCPPMFBO >CLNSP;FO?^;A8IFOJUJTUSVF UIFFMFNFOUJTTBJEUPIBWFB =BKMRO:EN>


    5IF EJSUZWBMVFЙBH Q NVTUCFJOJUJBMMZTFUUPGBMTFXIFOUIFFMFNFOUJTDSFBUFE BOENVTUCFTFUUPUSVFXIFOFWFS
    UIFVTFSJOUFSBDUTXJUIUIFDPOUSPMJOBXBZUIBUDIBOHFTUIF WBMVF Q 

    5IF Q<GP@ DPOUFOUBUUSJCVUFHJWFTUIFEFGBVMU WBMVF Q PGUIF JOQVU Q FMFNFOU 8IFOUIF WBMVF Q DPOUFOUBUUSJCVUF
    JTBEEFE TFU PSSFNPWFE JGUIFDPOUSPMEPFTOPUIBWFB 38ACHE0;D4 ?  UIFVTFSBHFOUNVTUTFUUIF WBMVF Q PGUIF
    FMFNFOUUPUIFWBMVFPGUIF WBMVF Q DPOUFOUBUUSJCVUF JGUIFSFJTPOF PSUIFFNQUZTUSJOHPUIFSXJTF BOEUIFOSVOUIF
    DVSSFOU WBMVFTBOJUJ[BUJPOBMHPSJUIN Q JGPOFJTEFИOFE

    &BDI JOQVU Q FMFNFOUIBTB DIFDLFEOFTT Q XIJDIJTFYQPTFECZUIF DIFDLFE Q *%-BUUSJCVUF

    &BDI JOQVU Q FMFNFOUIBTBCPPMFBO >CLNS=B?=E?>H?MM^;A8IFOJUJTUSVF UIFFMFNFOUJTTBJEUPIBWFB =BKMR


    <A><D>=G>LL5IF EJSUZDIFDLFEOFTTЙBH Q NVTUCFJOJUJBMMZTFUUPGBMTFXIFOUIFFMFNFOUJTDSFBUFE BOENVTUCF
    TFUUPUSVFXIFOFWFSUIFVTFSJOUFSBDUTXJUIUIFDPOUSPMJOBXBZUIBUDIBOHFTUIF DIFDLFEOFTT Q 

    5IF >C@>F@? DPOUFOUBUUSJCVUFJTB CPPMFBOBUUSJCVUF Q UIBUHJWFTUIFEFGBVMU DIFDLFEOFTT Q PGUIF JOQVU Q
    FMFNFOU 8IFOUIF DIFDLFE Q DPOUFOUBUUSJCVUFJTBEEFE JGUIFDPOUSPMEPFTOPUIBWF 38ACH2742:43=4BB ?  UIFVTFS

    
    BHFOUNVTUTFUUIF DIFDLFEOFTT Q PGUIFFMFNFOUUPUSVFXIFOUIF DIFDLFE Q DPOUFOUBUUSJCVUFJTSFNPWFE JGUIF
    DPOUSPMEPFTOPUIBWF 38ACH2742:43=4BB ?  UIFVTFSBHFOUNVTUTFUUIF DIFDLFEOFTT Q PGUIFFMFNFOUUPGBMTF

    5IF SFTFUBMHPSJUIN Q GPS JOQVU Q FMFNFOUTJTUPTFUUIF EJSUZWBMVFЙBH Q BOE EJSUZDIFDLFEOFTTЙBH Q CBDLUP
    GBMTF TFUUIF WBMVF Q PGUIFFMFNFOUUPUIFWBMVFPGUIF WBMVF Q DPOUFOUBUUSJCVUF JGUIFSFJTPOF PSUIFFNQUZ
    TUSJOHPUIFSXJTF TFUUIF DIFDLFEOFTT Q PGUIFFMFNFOUUPUSVFJGUIFFMFNFOUIBTB DIFDLFE Q DPOUFOUBUUSJCVUFBOE
    GBMTFJGJUEPFTOPU BOEUIFOJOWPLFUIF WBMVFTBOJUJ[BUJPOBMHPSJUIN Q JGUIF UZQF Q BUUSJCVUFTDVSSFOUTUBUFEFИOFT
    POF

    &BDI JOQVU Q FMFNFOUJTFJUIFS FNM:;E> PS BFFNM:;E>&YDFQUXIFSFPUIFSXJTFTQFDJИFE BO JOQVU Q FMFNFOUJT
    BMXBZT <DC01;4 ?  4JNJMBSMZ FYDFQUXIFSFPUIFSXJTFTQFDJИFE UIFVTFSBHFOUTIPVMEOPUBMMPXUIFVTFSUPNPEJGZ
    UIFFMFNFOUT WBMVF Q PS DIFDLFEOFTT Q 

    8IFOBO JOQVU Q FMFNFOUJT EJTBCMFE Q JUJT 8<<DC01;4 ?  

    8IFOBO JOQVU Q FMFNFOUEPFTOPUIBWFB %PDVNFOU Q OPEFBTPOFPGJUTBODFTUPST JFXIFOJUJTOPUJOUIF


    EPDVNFOU
    JUJT 8<<DC01;4 ?  

    *HM> 0A> K>:=HGER I :MMKB;NM><:G:ELHBGLHF><:L>L> @ ?HKMA> :M> I LM:M> ;NMGHMMA>
    A><D;HQ I LM:M>F:D>:G BGINM I >E>F>GM BFFNM:;E> I

    8IFOBO JOQVU Q FMFNFOUJTDMPOFE UIFFMFNFOUT WBMVF Q EJSUZWBMVFЙBH Q DIFDLFEOFTT Q BOE EJSUZ
    DIFDLFEOFTTЙBH Q NVTUCFQSPQBHBUFEUPUIFDMPOFXIFOJUJTDSFBUFE

    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF JOQVU Q FMFNFOUXJUIJUT GPSNPXOFS Q 5IF OBNF Q
    BUUSJCVUFSFQSFTFOUTUIFFMFNFOUTOBNF5IF EJTBCMFE Q BUUSJCVUFJTVTFEUPNBLFUIFDPOUSPMOPOJOUFSBDUJWFBOEUP
    QSFWFOUJUTWBMVFGSPNCFJOHTVCNJUUFE5IF BVUPGPDVT Q BUUSJCVUFDPOUSPMTGPDVT

    5IF DI?@O@MHDI<O@ *%-BUUSJCVUFNVTUJOJUJBMMZCFTFUUPGBMTF0OHFUUJOH JUNVTUSFUVSOUIFMBTUWBMVFJUXBTTFUUP


    0OTFUUJOH JUNVTUCFTFUUPUIFOFXWBMVF*UIBTOPFЗFDUFYDFQUGPSDIBOHJOHUIFBQQFBSBODFPG DIFDLCPY Q
    DPOUSPMT

    5IF <>>@KO <GO <POJ>JHKG@O@ H<S HDI HPGODKG@ K<OO@MI KG<>@CJG?@M M@LPDM@? NDU@ NM> NO@K BOE OTK@ *%-
    BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF5IF H<S*@IBOC *%-BUUSJCVUFNVTU
    SFЙFDU Q UIF NBYMFOHUI Q DPOUFOUBUUSJCVUF MJNJUFEUPPOMZOPOOFHBUJWFOVNCFST Q 5IF M@<?-IGT *%-BUUSJCVUF
    NVTU SFЙFDU Q UIF SFBEPOMZ Q DPOUFOUBUUSJCVUF5IF ?@A<PGO!C@>F@? *%-BUUSJCVUFNVTU SFЙFDU Q UIF DIFDLFE Q
    DPOUFOUBUUSJCVUF5IF ?@A<PGO4<GP@ *%-BUUSJCVUFNVTU SFЙFDU Q UIF WBMVF Q DPOUFOUBUUSJCVUF

    5IF XJMM7BMJEBUF Q WBMJEJUZ Q BOE WBMJEBUJPO.FTTBHF Q BUUSJCVUFT BOEUIF DIFDL7BMJEJUZ
    Q BOE
    TFU$VTUPN7BMJEJUZ
    Q NFUIPET BSFQBSUPGUIF DPOTUSBJOUWBMJEBUJPO"1* Q 5IF MBCFMT Q BUUSJCVUFQSPWJEFTBMJTU
    PGUIFFMFNFOUT MBCFM Q T5IF TFMFDU
    Q TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q BOE TFU4FMFDUJPO3BOHF
    Q
    NFUIPETBOEBUUSJCVUFTFYQPTFUIFFMFNFOUTUFYUTFMFDUJPO

        /N;N?MI@NB? OTK@ K ;NNLC<ON?

         $B==>G LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF )JEEFO Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BWBMVFUIBUJTOPUJOUFOEFEUPCFFYBNJOFEPSNBOJQVMBUFECZUIFVTFS

    IHMNL;CHNP;FC>;NCIH*GBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF )JEEFO Q TUBUF JUJT CBSSFEGSPN
    DPOTUSBJOUWBMJEBUJPO Q 

    *GUIF OBNF Q BUUSJCVUFJTQSFTFOUBOEIBTBWBMVFUIBUJTB DBTFTFOTJUJWF Q NBUDIGPSUIFTUSJOH@DIBSTFU@ UIFO


    UIFFMFNFOUT WBMVF Q BUUSJCVUFNVTUCFPNJUUFE

    HHDD>>IBG@=>M:BEL
    Ο5IF WBMVF Q *%-BUUSJCVUFBQQMJFTUPUIJTFMFNFOUBOEJTJONPEF EFGBVMU Q 
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q BVUPDPNQMFUF Q DIFDLFE Q
    GPSNBDUJPO Q GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q MJTU Q NBY Q NBYMFOHUI Q NJO Q
    NVMUJQMF Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q TJ[F Q TSD Q TUFQ Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q MJTU Q TFMFDUFE0QUJPO Q
    TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-BUUSJCVUFT TFMFDU
    Q TFU4FMFDUJPO3BOHF
    Q
    TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTEPOPUBQQMZ

    
         0>QM LM:M>:G= />:K<A LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 5FYU Q TUBUFPSUIF 4FBSDI Q TUBUF UIFSVMFTJOUIJTTFDUJPO
    BQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BPOFMJOFQMBJOUFYUFEJUDPOUSPMGPSUIFFMFNFOUT WBMVF Q 

    *HM> 0A>=BZ>K>G<>;>MP>>GMA> 0>QM I LM:M>:G=MA> />:K<A I LM:M>BLIKBF:KBERLMREBLMB<HG


    IE:M?HKFLPA>K>L>:K<A[>E=L:K>=BLMBG@NBLA>=?KHFK>@NE:KM>QM[>E=L MA> />:K<A I LM:M>
    FB@AMK>LNEMBG:G:II>:K:G<><HGLBLM>GMPBMAMA>IE:M?HKFLL>:K<A[>E=LK:MA>KMA:G:II>:KBG@
    EBD>:K>@NE:KM>QM[>E=

    *GUIFFMFNFOUJT <DC01;4 ?  JUT WBMVF Q TIPVMECFFEJUBCMFCZUIFVTFS6TFSBHFOUTNVTUOPUBMMPXVTFSTUPJOTFSU


    6 "-*/&'&&% -'
    PS6 %$"33*"(&3&563/ $3
    DIBSBDUFSTJOUPUIFFMFNFOUT WBMVF Q 

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUDPOUBJOTOP6 "-*/&'&&% -'


    PS6 %$"33*"(&
    3&563/ $3
    DIBSBDUFST

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM 4USJQMJOFCSFBLT Q GSPNUIF WBMVF Q 

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBYMFOHUI Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q BOE TJ[F Q DPOUFOUBUUSJCVUFT MJTU Q TFMFDUFE0QUJPO Q
    TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q BOE WBMVF Q *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBY Q NJO Q NVMUJQMF Q TSD Q TUFQ Q BOE
    XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-
    BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET

         0>E>IAHG> LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 5FMFQIPOF Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSFEJUJOHBUFMFQIPOFOVNCFSHJWFOJOUIFFMFNFOUT WBMVF Q 

    *GUIFFMFNFOUJT <DC01;4 ?  JUT WBMVF Q TIPVMECFFEJUBCMFCZUIFVTFS6TFSBHFOUTNBZDIBOHFUIFQVODUVBUJPOPG


    WBMVFT Q UIBUUIFVTFSFOUFST6TFSBHFOUTNVTUOPUBMMPXVTFSTUPJOTFSU6 "-*/&'&&% -'
    PS6 %
    $"33*"(&3&563/ $3
    DIBSBDUFSTJOUPUIFFMFNFOUT WBMVF Q 

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUDPOUBJOTOP6 "-*/&'&&% -'


    PS6 %$"33*"(&
    3&563/ $3
    DIBSBDUFST

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM 4USJQMJOFCSFBLT Q GSPNUIF WBMVF Q 

    *HM> 1GEBD>MA> 1.( I :G= !


    F:BE I MRI>L MA> 0>E>IAHG> I MRI>=H>LGHM>G?HK<>:I:KMB<NE:K
    LRGM:Q 0ABLBLBGM>GMBHG:EBGIK:<MB<> M>E>IAHG>GNF;>K[>E=LM>G=MH;>?K>>
    ?HKF[>E=L
    ;><:NL>MA>K>:K>:PB=>O:KB>MRH?O:EB=IAHG>GNF;>KL /RLM>FLMA:MG>>=MH>G?HK<>:
    I:KMB<NE:K?HKF:M:K>>G<HNK:@>=MHNL>MA> L>M"NLMHF4:EB=BMR I F>MAH=MHAHHDBGMHMA>
    <EB>GM
    LB=>O:EB=:MBHGF><A:GBLF

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBYMFOHUI Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q BOE TJ[F Q DPOUFOUBUUSJCVUFT MJTU Q TFMFDUFE0QUJPO Q
    TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q BOE WBMVF Q *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBY Q NJO Q NVMUJQMF Q TSD Q TUFQ Q BOE
    XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-
    BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET

    
         1.( LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 63- Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSFEJUJOHBTJOHMF BCTPMVUF63- Q HJWFOJOUIFFMFNFOUT WBMVF Q 

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIF63-SFQSFTFOUFECZJUT WBMVF Q 


    6TFSBHFOUTNBZBMMPXUIFVTFSUPTFUUIF WBMVF Q UPBTUSJOHUIBUJTOPUB WBMJE Q BCTPMVUF63- Q CVUNBZBMTPPS
    JOTUFBEBVUPNBUJDBMMZFTDBQFDIBSBDUFSTFOUFSFECZUIFVTFSTPUIBUUIF WBMVF Q JTBMXBZTB WBMJE Q BCTPMVUF63- Q
    FWFOJGUIBUJTOUUIFBDUVBMWBMVFTFFOBOEFEJUFECZUIFVTFSJOUIFJOUFSGBDF
    6TFSBHFOUTTIPVMEBMMPXUIFVTFSUP
    TFUUIF WBMVF Q UPUIFFNQUZTUSJOH6TFSBHFOUTNVTUOPUBMMPXVTFSTUPJOTFSU6 "-*/&'&&% -'
    PS6 %
    $"33*"(&3&563/ $3
    DIBSBDUFSTJOUPUIF WBMVF Q 

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJE Q BCTPMVUF63- Q 

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM 4USJQMJOFCSFBLT Q GSPNUIF WBMVF Q 

    IHMNL;CHNP;FC>;NCIH8IJMFUIF WBMVF Q PGUIFFMFNFOUJTOPUB WBMJE Q BCTPMVUF63- Q UIFFMFNFOUJT TVЗFSJOH
    GSPNBUZQFNJTNBUDI Q 

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBYMFOHUI Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q BOE TJ[F Q DPOUFOUBUUSJCVUFT MJTU Q TFMFDUFE0QUJPO Q
    TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q BOE WBMVF Q *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBY Q NJO Q NVMUJQMF Q TSD Q TUFQ Q BOE
    XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-
    BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET

    *GBEPDVNFOUDPOUBJOFEUIFGPMMPXJOHNBSLVQ

    JOQVUUZQFVSMOBNFMPDBUJPOMJTUVSMT
    EBUBMJTUJEVSMT
    PQUJPOMBCFM.*.&'PSNBUPG*OUFSOFU.FTTBHF#PEJFTWBMVFIUUQXXXJFUGPSHSGD
    SGD
    PQUJPOMBCFM)5.-4QFDJGJDBUJPOWBMVFIUUQXXXXPSH53IUNM
    PQUJPOMBCFM'PSN$POUSPMTWBMVFIUUQXXXXPSH53YGPSNT
    TMJDFIUNMVJDPNNPOFMFNTIJOU
    PQUJPOMBCFM4DBMBCMF7FDUPS(SBQIJDT 47(
    4QFDJGJDBUJPO
    WBMVFIUUQXXXXPSH5347(
    PQUJPOMBCFM'FBUVSF4FUT47(WBMVFIUUQXXXXPSH5347(
    GFBUVSFIUNM
    PQUJPOMBCFM5IF4JOHMF6/*94QFDJGJDBUJPO 7FSTJPO
    WBMVFIUUQXXXVOJYTZTUFNTPSHWFSTJPO
    EBUBMJTU

    BOEUIFVTFSIBEUZQFEXXXX BOEUIFVTFSBHFOUIBEBMTPGPVOEUIBUUIFVTFSIBEWJTJUFE
    IUUQXXXXPSH$POTPSUJVNNFNCFSTIJQ BOE IUUQXXXXPSH539'PSNT JOUIFSFDFOUQBTU UIFO
    UIFSFOEFSJOHNJHIUMPPLMJLFUIJT

    5IFИSTUGPVS63*TJOUIJTTBNQMFDPOTJTUPGUIFGPVS63*TJOUIFBVUIPSTQFDJИFEMJTUUIBUNBUDIUIFUFYUUIFVTFS
    IBTFOUFSFE TPSUFEMFYJDBMMZ/PUFIPXUIF6"JTVTJOHUIFLOPXMFEHFUIBUUIFWBMVFTBSF63*TUPBMMPXUIFVTFS
    UPPNJUUIFTDIFNFQBSUBOEQFSGPSNJOUFMMJHFOUNBUDIJOHPOUIFEPNBJOOBNF

    
    5IFMBTUUXP63*T BOEQSPCBCMZNBOZNPSF HJWFOUIFTDSPMMCBSTJOEJDBUJPOTPGNPSFWBMVFTCFJOHBWBJMBCMF
    BSF
    UIFNBUDIFTGSPNUIFVTFSBHFOUTTFTTJPOIJTUPSZEBUB5IJTEBUBJTOPUNBEFBWBJMBCMFUPUIFQBHF%0.*OUIJT
    QBSUJDVMBSDBTF UIF6"IBTOPUJUMFTUPQSPWJEFGPSUIPTFWBMVFT

         !
    F:BE LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF &NBJM Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSFEJUJOHBMJTUPGFNBJMBEESFTTFTHJWFOJOUIFFMFNFOUT WBMVF Q 

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIFFNBJMBEESFTTFTSFQSFTFOUFECZJUT


    WBMVF Q *GUIF NVMUJQMF Q BUUSJCVUFJTTQFDJИFE UIFOUIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPTFMFDUPSQSPWJEF
    NVMUJQMFBEESFTTFTPUIFSXJTF UIFVTFSBHFOUTIPVMEBDUJOBNBOOFSDPOTJTUFOUXJUIFYQFDUJOHUIFVTFSUPQSPWJEFB
    TJOHMFFNBJMBEESFTT6TFSBHFOUTNBZBMMPXUIFVTFSUPTFUUIF WBMVF Q UPBTUSJOHUIBUJTOPUB WBMJEFNBJMBEESFTT
    MJTU Q 6TFSBHFOUTTIPVMEBMMPXUIFVTFSUPTFUUIF WBMVF Q UPUIFFNQUZTUSJOH6TFSBHFOUTNVTUOPUBMMPXVTFSTUP
    JOTFSU6 "-*/&'&&% -'
    PS6 %$"33*"(&3&563/ $3
    DIBSBDUFSTJOUPUIF WBMVF Q 6TFSBHFOUTNBZ
    USBOTGPSNUIF WBMVF Q GPSEJTQMBZBOEFEJUJOH FHDPOWFSUJOHQVOZDPEFJOUIF WBMVF Q UP*%/JOUIFEJTQMBZBOEWJDF
    WFSTB
    

    *GUIF NVMUJQMF Q BUUSJCVUFJTTQFDJИFEPOUIFFMFNFOU UIFOUIF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVF
    UIBUJTB WBMJEFNBJMBEESFTTMJTU Q PUIFSXJTF UIF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTBTJOHMF
    WBMJEFNBJMBEESFTT Q 

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM 4USJQMJOFCSFBLT Q GSPNUIF WBMVF Q 

    IHMNL;CHNP;FC>;NCIH*GUIF NVMUJQMF Q BUUSJCVUFJTTQFDJИFEPOUIFFMFNFOU UIFO XIJMFUIF WBMVF Q PGUIF


    FMFNFOUJTOPUB WBMJEFNBJMBEESFTTMJTU Q UIFFMFNFOUJT TVЗFSJOHGSPNBUZQFNJTNBUDI Q PUIFSXJTF XIJMFUIF
    WBMVF Q PGUIFFMFNFOUJTOPUBTJOHMF WBMJEFNBJMBEESFTT Q UIFFMFNFOUJT TVЗFSJOHGSPNBUZQFNJTNBUDI Q 

    " P;FC>? G;CF;>>L?MMFCMN JTB TFUPGDPNNBTFQBSBUFEUPLFOT Q XIFSFFBDIUPLFOJTJUTFMGB WBMJEFNBJM


    BEESFTT Q  5PPCUBJOUIFMJTUPGUPLFOTGSPNB WBMJEFNBJMBEESFTTMJTU Q UIFVTFSBHFOUNVTU TQMJUUIFTUSJOHPO
    DPNNBT Q 

    " P;FC>? G;CF;>>L?MM JTBTUSJOHUIBUNBUDIFTUIF"#/'QSPEVDUJPO  BUFYU  


    ! MEI
    TUS   MEITUS
    XIFSF BUFYU JTEFИOFEJO3'$TFDUJPO BOE MEITUS JTEFИOFEJO3'$
    TFDUJPO <"#/'> Q <3'$> Q <3'$> Q

    *HM> 0ABLK>JNBK>F>GMBL: PBEE?NEOBHE:MBHG I H?." PAB<A=>[G>L:LRGM:Q?HK>


    F:BE
    :==K>LL>LMA:MBLLBFNEM:G>HNLERMHHLMKB<M;>?HK>MA><A:K:<M>K MHHO:@N>:?M>KMA>
    <A:K:<M>K :G=MHHE:Q:EEHPBG@<HFF>GML PABM>LI:<><A:K:<M>KL :G=JNHM>=LMKBG@LBG
    F:GG>KLNG?:FBEB:KMHFHLMNL>KLMH;>H?IK:<MB<:ENL>A>K>

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBYMFOHUI Q NVMUJQMF Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q BOE TJ[F Q DPOUFOUBUUSJCVUFT MJTU Q
    TFMFDUFE0QUJPO Q TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q BOE WBMVF Q *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q
    NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBY Q NJO Q TSD Q TUFQ Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-
    BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET

         ,:LLPHK= LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 1BTTXPSE Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BPOFMJOFQMBJOUFYUFEJUDPOUSPMGPSUIFFMFNFOUT WBMVF Q 5IFVTFSBHFOU
    TIPVMEPCTDVSFUIFWBMVFTPUIBUQFPQMFPUIFSUIBOUIFVTFSDBOOPUTFFJU

    *GUIFFMFNFOUJT <DC01;4 ?  JUT WBMVF Q TIPVMECFFEJUBCMFCZUIFVTFS6TFSBHFOUTNVTUOPUBMMPXVTFSTUPJOTFSU


    6 "-*/&'&&% -'
    PS6 %$"33*"(&3&563/ $3
    DIBSBDUFSTJOUPUIF WBMVF Q 

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUDPOUBJOTOP6 "-*/&'&&% -'


    PS6 %$"33*"(&
    3&563/ $3
    DIBSBDUFST

    
    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM 4USJQMJOFCSFBLT Q GSPNUIF WBMVF Q 

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q
    NBYMFOHUI Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q BOE TJ[F Q DPOUFOUBUUSJCVUFT TFMFDUJPO4UBSU Q
    TFMFDUJPO&OE Q BOE WBMVF Q *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q MJTU Q NBY Q NJO Q NVMUJQMF Q TSD Q TUFQ Q
    BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q MJTU Q TFMFDUFE0QUJPO Q
    WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET

         :M>:G=0BF> LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF %BUFBOE5JNF Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSTFUUJOHUIFFMFNFOUT WBMVF Q UPBTUSJOHSFQSFTFOUJOHBTQFDJИD
    HMPCBMEBUFBOEUJNF Q  6TFSBHFOUTNBZEJTQMBZUIFEBUFBOEUJNFJOXIBUFWFSUJNF[POFJTBQQSPQSJBUFGPSUIFVTFS

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIF HMPCBMEBUFBOEUJNF Q SFQSFTFOUFE


    CZJUT WBMVF Q BTPCUBJOFECZ QBSTJOHBHMPCBMEBUFBOEUJNF Q GSPNJU6TFSBHFOUTNVTUOPUBMMPXUIFVTFSUPTFU
    UIF WBMVF Q UPBTUSJOHUIBUJTOPUB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q FYQSFTTFEJO65$ UIPVHIVTFSBHFOUTNBZ
    BMMPXUIFVTFSUPTFUBOEWJFXUIFUJNFJOBOPUIFSUJNF[POFBOETJMFOUMZUSBOTMBUFUIFUJNFUPBOEGSPNUIF65$UJNF
    [POFJOUIF WBMVF Q *GUIFVTFSBHFOUQSPWJEFTBVTFSJOUFSGBDFGPSTFMFDUJOHB HMPCBMEBUFBOEUJNF Q UIFOUIF
    WBMVF Q NVTUCFTFUUPB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q FYQSFTTFEJO65$SFQSFTFOUJOHUIFVTFSTTFMFDUJPO6TFS
    BHFOUTTIPVMEBMMPXUIFVTFSUPTFUUIF WBMVF Q UPUIFFNQUZTUSJOH

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM*GUIF WBMVF Q PGUIFFMFNFOUJTB WBMJEHMPCBMEBUFBOEUJNF


    TUSJOH Q UIFOBEKVTUUIFUJNFTPUIBUUIF WBMVF Q SFQSFTFOUTUIFTBNFQPJOUJOUJNFCVUFYQSFTTFEJOUIF65$UJNF
    [POF PUIFSXJTF TFUJUUPUIFFNQUZTUSJOHJOTUFBE

    5IF NJO Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 5IF NBY Q BUUSJCVUF
    JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    5IF TUFQ Q BUUSJCVUFJTFYQSFTTFEJOTFDPOET 5IF TUFQTDBMFGBDUPS Q JT XIJDIDPOWFSUTUIFTFDPOETUP


    NJMMJTFDPOET BTVTFEJOUIFPUIFSBMHPSJUINT
     5IF EFGBVMUTUFQ Q JTTFDPOET

    8IFOUIFFMFNFOUJT TVЗFSJOHGSPNBTUFQNJTNBUDI Q UIFVTFSBHFOUNBZSPVOEUIFFMFNFOUT WBMVF Q UPUIF


    OFBSFTU HMPCBMEBUFBOEUJNF Q GPSXIJDIUIFFMFNFOUXPVMEOPU TVЗFSGSPNBTUFQNJTNBUDI Q 

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI;HOG<?L J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHBHMPCBMEBUF
    BOEUJNF Q GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOUIFOVNCFSPGNJMMJTFDPOETFMBQTFE
    GSPNNJEOJHIU65$POUIFNPSOJOHPG UIFUJNFSFQSFTFOUFECZUIFWBMVF5;
    UP
    UIFQBSTFE HMPCBMEBUFBOEUJNF Q JHOPSJOHMFBQTFDPOET

    0B? ;FAILCNBGNI=IHP?LN;HOG<?LNI;MNLCHA J


    ACP?H;HOG<?L BGINM
    CM;M@IFFIQM3FUVSOB WBMJEHMPCBM
    EBUFBOEUJNFTUSJOH Q FYQSFTTFEJO65$UIBUSFQSFTFOUTUIF HMPCBMEBUFBOEUJNF Q UIBUJT 8=?DC NJMMJTFDPOETBGUFS
    NJEOJHIU65$POUIFNPSOJOHPG UIFUJNFSFQSFTFOUFECZUIFWBMVF5;
    

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI; "<O@ I<D?=N J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHBHMPCBM
    EBUFBOEUJNF Q GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOB %BUF PCKFDUSFQSFTFOUJOHUIF
    QBSTFE HMPCBMEBUFBOEUJNF Q FYQSFTTFEJO65$

    0B? ;FAILCNBGNI=IHP?LN; "<O@ I<D?=NNI;MNLCHA J


    ACP?H; "<O@ I<D?=N BGINM
    CM;M@IFFIQM3FUVSOB WBMJE
    HMPCBMEBUFBOEUJNFTUSJOH Q FYQSFTTFEJO65$UIBUSFQSFTFOUTUIF HMPCBMEBUFBOEUJNF Q UIBUJTSFQSFTFOUFECZ
    8=?DC

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBY Q NJO Q SFBEPOMZ Q SFRVJSFE Q BOE TUFQ Q DPOUFOUBUUSJCVUFT MJTU Q WBMVF Q WBMVF"T%BUF Q WBMVF"T/VNCFS Q BOE
    TFMFDUFE0QUJPO Q *%-BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 

    
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBYMFOHUI Q NVMUJQMF Q QBUUFSO Q
    QMBDFIPMEFS Q TJ[F Q TSD Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q TFMFDUJPO4UBSU Q BOE TFMFDUJPO&OE Q
    *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET

    5IFGPMMPXJOHGSBHNFOUTIPXTQBSUPGBDBMFOEBSBQQMJDBUJPO"VTFSDBOTQFDJGZBEBUFBOEUJNFGPSBNFFUJOH
    JOIJTMPDBMUJNF[POF QSPCBCMZ UIPVHIUIFVTFSBHFOUDBOBMMPXUIFVTFSUPDIBOHFUIBU
    BOETJODFUIF
    TVCNJUUFEEBUBJODMVEFTUIFUJNF[POFPЗTFU UIFBQQMJDBUJPODBOFOTVSFUIBUUIFNFFUJOHJTTIPXOBUUIF
    DPSSFDUUJNFSFHBSEMFTTPGUIFUJNF[POFTVTFECZBMMUIFQBSUJDJQBOUT

    GJFMETFU
    MFHFOE"EE.FFUJOHMFHFOE
    QMBCFM.FFUJOHOBNFJOQVUUZQFUFYUOBNFNFFUJOHMBCFMMBCFM
    QMBCFM.FFUJOHUJNFJOQVUUZQFEBUFUJNFOBNFNFFUJOHTUBSUMBCFM
    GJFMETFU

    )BEUIFBQQMJDBUJPOVTFEUIF EBUFUJNFMPDBM Q UZQFJOTUFBE UIFDBMFOEBSBQQMJDBUJPOXPVMEIBWFBMTPIBEUP


    FYQMJDJUMZEFUFSNJOFXIJDIUJNF[POFUIFVTFSJOUFOEFE

         :M> LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF %BUF Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSTFUUJOHUIFFMFNFOUT WBMVF Q UPBTUSJOHSFQSFTFOUJOHBTQFDJИD
    EBUF Q 

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIF EBUF Q SFQSFTFOUFECZJUT WBMVF Q


    BTPCUBJOFECZ QBSTJOHBEBUF Q GSPNJU6TFSBHFOUTNVTUOPUBMMPXUIFVTFSUPTFUUIF WBMVF Q UPBTUSJOHUIBUJTOPU
    B WBMJEEBUFTUSJOH Q *GUIFVTFSBHFOUQSPWJEFTBVTFSJOUFSGBDFGPSTFMFDUJOHB EBUF Q UIFOUIF WBMVF Q NVTUCFTFU
    UPB WBMJEEBUFTUSJOH Q SFQSFTFOUJOHUIFVTFSTTFMFDUJPO6TFSBHFOUTTIPVMEBMMPXUIFVTFSUPTFUUIF WBMVF Q UPUIF
    FNQUZTUSJOH

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEEBUFTUSJOH Q 

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM*GUIF WBMVF Q PGUIFFMFNFOUJTOPUB WBMJEEBUFTUSJOH Q UIFO
    TFUJUUPUIFFNQUZTUSJOHJOTUFBE

    5IF NJO Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEEBUFTUSJOH Q 5IF NBY Q BUUSJCVUF JGTQFDJИFE
    NVTUIBWFBWBMVFUIBUJTB WBMJEEBUFTUSJOH Q 

    5IF TUFQ Q BUUSJCVUFJTFYQSFTTFEJOEBZT 5IF TUFQTDBMFGBDUPS Q JT   XIJDIDPOWFSUTUIFEBZTUP
    NJMMJTFDPOET BTVTFEJOUIFPUIFSBMHPSJUINT
     5IF EFGBVMUTUFQ Q JTEBZ

    8IFOUIFFMFNFOUJT TVЗFSJOHGSPNBTUFQNJTNBUDI Q UIFVTFSBHFOUNBZSPVOEUIFFMFNFOUT WBMVF Q UPUIF


    OFBSFTU EBUF Q GPSXIJDIUIFFMFNFOUXPVMEOPU TVЗFSGSPNBTUFQNJTNBUDI Q 

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI;HOG<?L J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHBEBUF Q
    GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOUIFOVNCFSPGNJMMJTFDPOETFMBQTFEGSPNNJEOJHIU
    65$POUIFNPSOJOHPG UIFUJNFSFQSFTFOUFECZUIFWBMVF5;
    UPNJEOJHIU65$
    POUIFNPSOJOHPGUIFQBSTFE EBUF Q JHOPSJOHMFBQTFDPOET

    0B? ;FAILCNBGNI=IHP?LN;HOG<?LNI;MNLCHA J


    ACP?H;HOG<?L BGINM
    CM;M@IFFIQM3FUVSOB WBMJEEBUF
    TUSJOH Q UIBUSFQSFTFOUTUIF EBUF Q UIBU JO65$ JTDVSSFOU 8=?DC NJMMJTFDPOETBGUFSNJEOJHIU65$POUIFNPSOJOHPG
     UIFUJNFSFQSFTFOUFECZUIFWBMVF5;
    

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI; "<O@ I<D?=N J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHBEBUF Q
    GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOB %BUF PCKFDUSFQSFTFOUJOHNJEOJHIU65$POUIF
    NPSOJOHPGUIFQBSTFE EBUF Q 

    0B? ;FAILCNBGNI=IHP?LN; "<O@ I<D?=NNI;MNLCHA J


    ACP?H; "<O@ I<D?=N BGINM
    CM;M@IFFIQM3FUVSOB WBMJE
    EBUFTUSJOH Q UIBUSFQSFTFOUTUIF EBUF Q DVSSFOUBUUIFUJNFSFQSFTFOUFECZ 8=?DC JOUIF65$UJNF[POF

    HHDD>>IBG@=>M:BEL

    
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBY Q NJO Q SFBEPOMZ Q SFRVJSFE Q BOE TUFQ Q DPOUFOUBUUSJCVUFT MJTU Q WBMVF Q WBMVF"T%BUF Q WBMVF"T/VNCFS Q BOE
    TFMFDUFE0QUJPO Q *%-BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBYMFOHUI Q NVMUJQMF Q QBUUFSO Q
    QMBDFIPMEFS Q TJ[F Q TSD Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q TFMFDUJPO4UBSU Q BOE TFMFDUJPO&OE Q *%-
    BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET

         )HGMA LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF .POUI Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSTFUUJOHUIFFMFNFOUT WBMVF Q UPBTUSJOHSFQSFTFOUJOHBTQFDJИD
    NPOUI Q 

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIF NPOUI Q SFQSFTFOUFECZJUT


    WBMVF Q BTPCUBJOFECZ QBSTJOHBNPOUI Q GSPNJU6TFSBHFOUTNVTUOPUBMMPXUIFVTFSUPTFUUIF WBMVF Q UPB
    TUSJOHUIBUJTOPUB WBMJENPOUITUSJOH Q *GUIFVTFSBHFOUQSPWJEFTBVTFSJOUFSGBDFGPSTFMFDUJOHB NPOUI Q UIFOUIF
    WBMVF Q NVTUCFTFUUPB WBMJENPOUITUSJOH Q SFQSFTFOUJOHUIFVTFSTTFMFDUJPO6TFSBHFOUTTIPVMEBMMPXUIFVTFSUP
    TFUUIF WBMVF Q UPUIFFNQUZTUSJOH

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJENPOUITUSJOH Q 

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM*GUIF WBMVF Q PGUIFFMFNFOUJTOPUB WBMJENPOUITUSJOH Q


    UIFOTFUJUUPUIFFNQUZTUSJOHJOTUFBE

    5IF NJO Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJENPOUITUSJOH Q 5IF NBY Q BUUSJCVUF JGTQFDJИFE
    NVTUIBWFBWBMVFUIBUJTB WBMJENPOUITUSJOH Q 

    5IF TUFQ Q BUUSJCVUFJTFYQSFTTFEJONPOUIT 5IF TUFQTDBMFGBDUPS Q JT UIFSFJTOPDPOWFSTJPOOFFEFEBTUIF


    BMHPSJUINTVTFNPOUIT
     5IF EFGBVMUTUFQ Q JTNPOUI

    8IFOUIFFMFNFOUJT TVЗFSJOHGSPNBTUFQNJTNBUDI Q UIFVTFSBHFOUNBZSPVOEUIFFMFNFOUT WBMVF Q UPUIF


    OFBSFTU NPOUI Q GPSXIJDIUIFFMFNFOUXPVMEOPU TVЗFSGSPNBTUFQNJTNBUDI Q 

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI;HOG<?L J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHBNPOUI Q
    GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOUIFOVNCFSPGNPOUITCFUXFFO+BOVBSZBOE
    UIFQBSTFE NPOUI Q 

    0B? ;FAILCNBGNI=IHP?LN;HOG<?LNI;MNLCHA J


    ACP?H;HOG<?L BGINM
    CM;M@IFFIQM3FUVSOB WBMJENPOUI
    TUSJOH Q UIBUSFQSFTFOUTUIF NPOUI Q UIBUIBT 8=?DC NPOUITCFUXFFOJUBOE+BOVBSZ

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI; "<O@ I<D?=N J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHB
    NPOUI Q GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOB %BUF PCKFDUSFQSFTFOUJOHNJEOJHIU
    65$POUIFNPSOJOHPGUIFИSTUEBZPGUIFQBSTFE NPOUI Q 

    0B? ;FAILCNBGNI=IHP?LN; "<O@ I<D?=NNI;MNLCHA J


    ACP?H; "<O@ I<D?=N BGINM
    CM;M@IFFIQM3FUVSOB WBMJE
    NPOUITUSJOH Q UIBUSFQSFTFOUTUIF NPOUI Q DVSSFOUBUUIFUJNFSFQSFTFOUFECZ 8=?DC JOUIF65$UJNF[POF

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBY Q NJO Q SFBEPOMZ Q SFRVJSFE Q BOE TUFQ Q DPOUFOUBUUSJCVUFT MJTU Q WBMVF Q WBMVF"T%BUF Q WBMVF"T/VNCFS Q BOE
    TFMFDUFE0QUJPO Q *%-BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBYMFOHUI Q NVMUJQMF Q QBUUFSO Q
    QMBDFIPMEFS Q TJ[F Q TSD Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q TFMFDUJPO4UBSU Q BOE TFMFDUJPO&OE Q
    *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET

         3>>D LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 8FFL Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    
    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSTFUUJOHUIFFMFNFOUT WBMVF Q UPBTUSJOHSFQSFTFOUJOHBTQFDJИD
    XFFL Q 

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIF XFFL Q SFQSFTFOUFECZJUT WBMVF Q


    BTPCUBJOFECZ QBSTJOHBXFFL Q GSPNJU6TFSBHFOUTNVTUOPUBMMPXUIFVTFSUPTFUUIF WBMVF Q UPBTUSJOHUIBUJTOPU
    B WBMJEXFFLTUSJOH Q *GUIFVTFSBHFOUQSPWJEFTBVTFSJOUFSGBDFGPSTFMFDUJOHB XFFL Q UIFOUIF WBMVF Q NVTUCF
    TFUUPB WBMJEXFFLTUSJOH Q SFQSFTFOUJOHUIFVTFSTTFMFDUJPO6TFSBHFOUTTIPVMEBMMPXUIFVTFSUPTFUUIF WBMVF Q UP
    UIFFNQUZTUSJOH

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEXFFLTUSJOH Q 

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM*GUIF WBMVF Q PGUIFFMFNFOUJTOPUB WBMJEXFFLTUSJOH Q


    UIFOTFUJUUPUIFFNQUZTUSJOHJOTUFBE

    5IF NJO Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEXFFLTUSJOH Q 5IF NBY Q BUUSJCVUF JGTQFDJИFE
    NVTUIBWFBWBMVFUIBUJTB WBMJEXFFLTUSJOH Q 

    5IF TUFQ Q BUUSJCVUFJTFYQSFTTFEJOXFFLT 5IF TUFQTDBMFGBDUPS Q JT   XIJDIDPOWFSUTUIFXFFLTUP
    NJMMJTFDPOET BTVTFEJOUIFPUIFSBMHPSJUINT
     5IF EFGBVMUTUFQ Q JTXFFL 5IF EFGBVMUTUFQCBTF Q JT
    ʐ   UIFTUBSUPGXFFL8
    

    8IFOUIFFMFNFOUJT TVЗFSJOHGSPNBTUFQNJTNBUDI Q UIFVTFSBHFOUNBZSPVOEUIFFMFNFOUT WBMVF Q UPUIF


    OFBSFTU XFFL Q GPSXIJDIUIFFMFNFOUXPVMEOPU TVЗFSGSPNBTUFQNJTNBUDI Q 

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI;HOG<?L J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHBXFFL
    TUSJOH Q GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOUIFOVNCFSPGNJMMJTFDPOETFMBQTFEGSPN
    NJEOJHIU65$POUIFNPSOJOHPG UIFUJNFSFQSFTFOUFECZUIFWBMVF5;
    UP
    NJEOJHIU65$POUIFNPSOJOHPGUIF.POEBZPGUIFQBSTFE XFFL Q JHOPSJOHMFBQTFDPOET

    0B? ;FAILCNBGNI=IHP?LN;HOG<?LNI;MNLCHA J


    ACP?H;HOG<?L BGINM
    CM;M@IFFIQM3FUVSOB WBMJEXFFL
    TUSJOH Q UIBUSFQSFTFOUTUIF XFFL Q UIBU JO65$ JTDVSSFOU 8=?DC NJMMJTFDPOETBGUFSNJEOJHIU65$POUIFNPSOJOHPG
     UIFUJNFSFQSFTFOUFECZUIFWBMVF5;
    

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI; "<O@ I<D?=N J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHBXFFL Q
    GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOB %BUF PCKFDUSFQSFTFOUJOHNJEOJHIU65$POUIF
    NPSOJOHPGUIF.POEBZPGUIFQBSTFE XFFL Q 

    0B? ;FAILCNBGNI=IHP?LN; "<O@ I<D?=NNI;MNLCHA J


    ACP?H; "<O@ I<D?=N BGINM
    CM;M@IFFIQM3FUVSOB WBMJE
    XFFLTUSJOH Q UIBUSFQSFTFOUTUIF XFFL Q DVSSFOUBUUIFUJNFSFQSFTFOUFECZ 8=?DC JOUIF65$UJNF[POF

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBY Q NJO Q SFBEPOMZ Q SFRVJSFE Q BOE TUFQ Q DPOUFOUBUUSJCVUFT MJTU Q WBMVF Q WBMVF"T%BUF Q WBMVF"T/VNCFS Q BOE
    TFMFDUFE0QUJPO Q *%-BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBYMFOHUI Q NVMUJQMF Q QBUUFSO Q
    QMBDFIPMEFS Q TJ[F Q TSD Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q TFMFDUJPO4UBSU Q BOE TFMFDUJPO&OE Q
    *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET

         0BF> LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 5JNF Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSTFUUJOHUIFFMFNFOUT WBMVF Q UPBTUSJOHSFQSFTFOUJOHBTQFDJИD
    UJNF Q 

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIF UJNF Q SFQSFTFOUFECZJUT WBMVF Q


    BTPCUBJOFECZ QBSTJOHBUJNF Q GSPNJU6TFSBHFOUTNVTUOPUBMMPXUIFVTFSUPTFUUIF WBMVF Q UPBTUSJOHUIBUJTOPU
    B WBMJEUJNFTUSJOH Q *GUIFVTFSBHFOUQSPWJEFTBVTFSJOUFSGBDFGPSTFMFDUJOHB UJNF Q UIFOUIF WBMVF Q NVTUCFTFU
    UPB WBMJEUJNFTUSJOH Q SFQSFTFOUJOHUIFVTFSTTFMFDUJPO6TFSBHFOUTTIPVMEBMMPXUIFVTFSUPTFUUIF WBMVF Q UPUIF
    FNQUZTUSJOH

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEUJNFTUSJOH Q 

    
    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM*GUIF WBMVF Q PGUIFFMFNFOUJTOPUB WBMJEUJNFTUSJOH Q UIFO
    TFUJUUPUIFFNQUZTUSJOHJOTUFBE

    5IF NJO Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEUJNFTUSJOH Q 5IF NBY Q BUUSJCVUF JGTQFDJИFE
    NVTUIBWFBWBMVFUIBUJTB WBMJEUJNFTUSJOH Q 

    5IF TUFQ Q BUUSJCVUFJTFYQSFTTFEJOTFDPOET 5IF TUFQTDBMFGBDUPS Q JT XIJDIDPOWFSUTUIFTFDPOETUP


    NJMMJTFDPOET BTVTFEJOUIFPUIFSBMHPSJUINT
     5IF EFGBVMUTUFQ Q JTTFDPOET

    8IFOUIFFMFNFOUJT TVЗFSJOHGSPNBTUFQNJTNBUDI Q UIFVTFSBHFOUNBZSPVOEUIFFMFNFOUT WBMVF Q UPUIF


    OFBSFTU UJNF Q GPSXIJDIUIFFMFNFOUXPVMEOPU TVЗFSGSPNBTUFQNJTNBUDI Q 

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI;HOG<?L J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHBUJNF Q
    GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOUIFOVNCFSPGNJMMJTFDPOETFMBQTFEGSPNNJEOJHIU
    UPUIFQBSTFE UJNF Q POBEBZXJUIOPUJNFDIBOHFT

    0B? ;FAILCNBGNI=IHP?LN;HOG<?LNI;MNLCHA J


    ACP?H;HOG<?L BGINM
    CM;M@IFFIQM3FUVSOB WBMJEUJNF
    TUSJOH Q UIBUSFQSFTFOUTUIF UJNF Q UIBUJT 8=?DC NJMMJTFDPOETBGUFSNJEOJHIUPOBEBZXJUIOPUJNFDIBOHFT

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI; "<O@ I<D?=N J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHBUJNF Q
    GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOB %BUF PCKFDUSFQSFTFOUJOHUIFQBSTFE UJNF Q JO
    65$PO

    0B? ;FAILCNBGNI=IHP?LN; "<O@ I<D?=NNI;MNLCHA J


    ACP?H; "<O@ I<D?=N BGINM
    CM;M@IFFIQM3FUVSOB WBMJE
    UJNFTUSJOH Q UIBUSFQSFTFOUTUIF65$ UJNF Q DPNQPOFOUUIBUJTSFQSFTFOUFECZ 8=?DC

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBY Q NJO Q SFBEPOMZ Q SFRVJSFE Q BOE TUFQ Q DPOUFOUBUUSJCVUFT MJTU Q WBMVF Q WBMVF"T%BUF Q WBMVF"T/VNCFS Q BOE
    TFMFDUFE0QUJPO Q *%-BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBYMFOHUI Q NVMUJQMF Q QBUUFSO Q
    QMBDFIPMEFS Q TJ[F Q TSD Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q TFMFDUJPO4UBSU Q BOE TFMFDUJPO&OE Q
    *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET

         (H<:E :M>:G=0BF> LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF -PDBM%BUFBOE5JNF Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSTFUUJOHUIFFMFNFOUT WBMVF Q UPBTUSJOHSFQSFTFOUJOHB MPDBMEBUF
    BOEUJNF Q XJUIOPUJNF[POFPЗTFUJOGPSNBUJPO

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIF EBUFBOEUJNF Q SFQSFTFOUFECZJUT


    WBMVF Q BTPCUBJOFECZ QBSTJOHBEBUFBOEUJNF Q GSPNJU6TFSBHFOUTNVTUOPUBMMPXUIFVTFSUPTFUUIF WBMVF Q UP
    BTUSJOHUIBUJTOPUB WBMJEMPDBMEBUFBOEUJNFTUSJOH Q *GUIFVTFSBHFOUQSPWJEFTBVTFSJOUFSGBDFGPSTFMFDUJOHB MPDBM
    EBUFBOEUJNF Q UIFOUIF WBMVF Q NVTUCFTFUUPB WBMJEMPDBMEBUFBOEUJNFTUSJOH Q SFQSFTFOUJOHUIFVTFST
    TFMFDUJPO6TFSBHFOUTTIPVMEBMMPXUIFVTFSUPTFUUIF WBMVF Q UPUIFFNQUZTUSJOH

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEMPDBMEBUFBOEUJNFTUSJOH Q 

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM*GUIF WBMVF Q PGUIFFMFNFOUJTOPUB WBMJEMPDBMEBUFBOEUJNF


    TUSJOH Q UIFOTFUJUUPUIFFNQUZTUSJOHJOTUFBE

    5IF NJO Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEMPDBMEBUFBOEUJNFTUSJOH Q 5IF NBY Q BUUSJCVUF
    JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEMPDBMEBUFBOEUJNFTUSJOH Q 

    5IF TUFQ Q BUUSJCVUFJTFYQSFTTFEJOTFDPOET 5IF TUFQTDBMFGBDUPS Q JT XIJDIDPOWFSUTUIFTFDPOETUP


    NJMMJTFDPOET BTVTFEJOUIFPUIFSBMHPSJUINT
     5IF EFGBVMUTUFQ Q JTTFDPOET

    8IFOUIFFMFNFOUJT TVЗFSJOHGSPNBTUFQNJTNBUDI Q UIFVTFSBHFOUNBZSPVOEUIFFMFNFOUT WBMVF Q UPUIF


    OFBSFTU MPDBMEBUFBOEUJNF Q GPSXIJDIUIFFMFNFOUXPVMEOPU TVЗFSGSPNBTUFQNJTNBUDI Q 

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI;HOG<?L J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*G QBSTJOHBEBUFBOE
    UJNF Q GSPN 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOUIFOVNCFSPGNJMMJTFDPOETFMBQTFEGSPN

    
    NJEOJHIUPOUIFNPSOJOHPG UIFUJNFSFQSFTFOUFECZUIFWBMVF5
    UPUIFQBSTFE
    MPDBMEBUFBOEUJNF Q JHOPSJOHMFBQTFDPOET

    0B? ;FAILCNBGNI=IHP?LN;HOG<?LNI;MNLCHA J


    ACP?H;HOG<?L BGINM
    CM;M@IFFIQM3FUVSOB WBMJEMPDBM
    EBUFBOEUJNFTUSJOH Q UIBUSFQSFTFOUTUIFEBUFBOEUJNFUIBUJT 8=?DC NJMMJTFDPOETBGUFSNJEOJHIUPOUIFNPSOJOHPG
     UIFUJNFSFQSFTFOUFECZUIFWBMVF5
    

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBY Q NJO Q SFBEPOMZ Q SFRVJSFE Q BOE TUFQ Q DPOUFOUBUUSJCVUFT MJTU Q WBMVF Q WBMVF"T/VNCFS Q BOE TFMFDUFE0QUJPO Q
    *%-BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBYMFOHUI Q NVMUJQMF Q QBUUFSO Q
    QMBDFIPMEFS Q TJ[F Q TSD Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q BOE
    WBMVF"T%BUF Q *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET

    5IFGPMMPXJOHFYBNQMFTIPXTQBSUPGBЙJHIUCPPLJOHBQQMJDBUJPO5IFBQQMJDBUJPOVTFTBO JOQVU Q FMFNFOUXJUI


    JUT UZQF Q BUUSJCVUFTFUUP EBUFUJNFMPDBM Q BOEJUUIFOJOUFSQSFUTUIFHJWFOEBUFBOEUJNFJOUIFUJNF[POF
    PGUIFTFMFDUFEBJSQPSU

    GJFMETFU
    MFHFOE%FTUJOBUJPOMFHFOE
    QMBCFM"JSQPSUJOQVUUZQFUFYUOBNFUPMJTUBJSQPSUTMBCFMQ
    QMBCFM%FQBSUVSFUJNFJOQVUUZQFEBUFUJNFMPDBMOBNFUPUJNFTUFQMBCFMQ
    GJFMETFU
    EBUBMJTUJEBJSQPSUT
    PQUJPOWBMVF"5-MBCFM"UMBOUB
    PQUJPOWBMVF.&.MBCFM.FNQIJT
    PQUJPOWBMVF-)3MBCFM-POEPO)FBUISPX
    PQUJPOWBMVF-"9MBCFM-PT"OHFMFT
    PQUJPOWBMVF'3"MBCFM'SBOLGVSU
    EBUBMJTU

    *GUIFBQQMJDBUJPOJOTUFBEVTFEUIF EBUFUJNF Q UZQF UIFOUIFVTFSXPVMEIBWFUPXPSLPVUUIFUJNF[POF


    DPOWFSTJPOTIJNTFMG XIJDIJTDMFBSMZOPUBHPPEVTFSFYQFSJFODF

         *NF;>K LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF /VNCFS Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSTFUUJOHUIFFMFNFOUT WBMVF Q UPBTUSJOHSFQSFTFOUJOHBOVNCFS

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIFOVNCFSSFQSFTFOUFECZJUT WBMVF Q


    BTPCUBJOFEGSPNBQQMZJOHUIF SVMFTGPSQBSTJOHЙPBUJOHQPJOUOVNCFSWBMVFT Q UPJU6TFSBHFOUTNVTUOPUBMMPXUIF
    VTFSUPTFUUIF WBMVF Q UPBTUSJOHUIBUJTOPUB WBMJEЙPBUJOHQPJOUOVNCFS Q *GUIFVTFSBHFOUQSPWJEFTBVTFS
    JOUFSGBDFGPSTFMFDUJOHBOVNCFS UIFOUIF WBMVF Q NVTUCFTFUUPUIF CFTUSFQSFTFOUBUJPOPGUIFOVNCFSSFQSFTFOUJOH
    UIFVTFSTTFMFDUJPOBTBЙPBUJOHQPJOUOVNCFS Q 6TFSBHFOUTTIPVMEBMMPXUIFVTFSUPTFUUIF WBMVF Q UPUIFFNQUZ
    TUSJOH

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEЙPBUJOHQPJOUOVNCFS Q 

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM*GUIF WBMVF Q PGUIFFMFNFOUJTOPUB WBMJEЙPBUJOHQPJOU


    OVNCFS Q UIFOTFUJUUPUIFFNQUZTUSJOHJOTUFBE

    5IF NJO Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEЙPBUJOHQPJOUOVNCFS Q 5IF NBY Q BUUSJCVUF JG
    TQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEЙPBUJOHQPJOUOVNCFS Q 

    5IF TUFQTDBMFGBDUPS Q JT 5IF EFGBVMUTUFQ Q JT BMMPXJOHPOMZJOUFHFST VOMFTTUIF NJO Q BUUSJCVUFIBTBOPO
    JOUFHFSWBMVF
    

    8IFOUIFFMFNFOUJT TVЗFSJOHGSPNBTUFQNJTNBUDI Q UIFVTFSBHFOUNBZSPVOEUIFFMFNFOUT WBMVF Q UPUIF


    OFBSFTUOVNCFSGPSXIJDIUIFFMFNFOUXPVMEOPU TVЗFSGSPNBTUFQNJTNBUDI Q 

    
    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI;HOG<?L J
    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*GBQQMZJOHUIF SVMFTGPS
    QBSTJOHЙPBUJOHQPJOUOVNCFSWBMVFT Q UP 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOUIFSFTVMUJOH
    OVNCFS

    0B? ;FAILCNBGNI=IHP?LN;HOG<?LNI;MNLCHA J


    ACP?H;HOG<?L BGINM
    CM;M@IFFIQM3FUVSOB WBMJE
    ЙPBUJOHQPJOUOVNCFS Q UIBUSFQSFTFOUT 8=?DC

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBY Q NJO Q SFBEPOMZ Q SFRVJSFE Q BOE TUFQ Q DPOUFOUBUUSJCVUFT MJTU Q WBMVF Q WBMVF"T/VNCFS Q BOE TFMFDUFE0QUJPO Q
    *%-BUUSJCVUFT TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBYMFOHUI Q NVMUJQMF Q QBUUFSO Q
    QMBDFIPMEFS Q TJ[F Q TSD Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q BOE
    WBMVF"T%BUF Q *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET

         .:G@> LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 3BOHF Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSTFUUJOHUIFFMFNFOUT WBMVF Q UPBTUSJOHSFQSFTFOUJOHBOVNCFS
    CVUXJUIUIFDBWFBUUIBUUIFFYBDUWBMVFJTOPUJNQPSUBOU MFUUJOH6"TQSPWJEFBTJNQMFSJOUFSGBDFUIBOUIFZEPGPSUIF
    /VNCFS Q TUBUF

    *HM> %GMABLLM:M> MA>K:G@>:G=LM>I<HGLMK:BGML:K>>G?HK<>=>O>G=NKBG@NL>KBGINM :G=MA>K>


    BLGHP:RMHL>MMA>O:EN>MHMA>>FIMRLMKBG@

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIFOVNCFSSFQSFTFOUFECZJUT WBMVF Q


    BTPCUBJOFEGSPNBQQMZJOHUIF SVMFTGPSQBSTJOHЙPBUJOHQPJOUOVNCFSWBMVFT Q UPJU6TFSBHFOUTNVTUOPUBMMPXUIF
    VTFSUPTFUUIF WBMVF Q UPBTUSJOHUIBUJTOPUB WBMJEЙPBUJOHQPJOUOVNCFS Q *GUIFVTFSBHFOUQSPWJEFTBVTFS
    JOUFSGBDFGPSTFMFDUJOHBOVNCFS UIFOUIF WBMVF Q NVTUCFTFUUPB CFTUSFQSFTFOUBUJPOPGUIFOVNCFSSFQSFTFOUJOH
    UIFVTFSTTFMFDUJPOBTBЙPBUJOHQPJOUOVNCFS Q 6TFSBHFOUTNVTUOPUBMMPXUIFVTFSUPTFUUIF WBMVF Q UPUIF
    FNQUZTUSJOH

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEЙPBUJOHQPJOUOVNCFS Q 

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM*GUIF WBMVF Q PGUIFFMFNFOUJTOPUB WBMJEЙPBUJOHQPJOU


    OVNCFS Q UIFOTFUJUUPB WBMJEЙPBUJOHQPJOUOVNCFS Q UIBUSFQSFTFOUTUIF EFGBVMUWBMVF Q 

    5IF NJO Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEЙPBUJOHQPJOUOVNCFS Q 5IF EFGBVMUNJOJNVN Q
    JT5IF NBY Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEЙPBUJOHQPJOUOVNCFS Q 5IF EFGBVMU
    NBYJNVN Q JT

    5IF >?@;OFNP;FO? JTUIF NJOJNVN Q QMVTIBMGUIFEJЗFSFODFCFUXFFOUIF NJOJNVN Q BOEUIF NBYJNVN Q VOMFTT
    UIF NBYJNVN Q JTMFTTUIBOUIF NJOJNVN Q JOXIJDIDBTFUIF EFGBVMUWBMVF Q JTUIF NJOJNVN Q 

    8IFOUIFFMFNFOUJT TVЗFSJOHGSPNBOVOEFSЙPX Q UIFVTFSBHFOUNVTUTFUUIFFMFNFOUT WBMVF Q UPB WBMJE


    ЙPBUJOHQPJOUOVNCFS Q UIBUSFQSFTFOUTUIF NJOJNVN Q 

    8IFOUIFFMFNFOUJT TVЗFSJOHGSPNBOPWFSЙPX Q JGUIF NBYJNVN Q JTOPUMFTTUIBOUIF NJOJNVN Q UIFVTFS
    BHFOUNVTUTFUUIFFMFNFOUT WBMVF Q UPB WBMJEЙPBUJOHQPJOUOVNCFS Q UIBUSFQSFTFOUTUIF NBYJNVN Q 

    5IF TUFQTDBMFGBDUPS Q JT 5IF EFGBVMUTUFQ Q JT BMMPXJOHPOMZJOUFHFST VOMFTTUIF NJO Q BUUSJCVUFIBTBOPO
    JOUFHFSWBMVF
    

    8IFOUIFFMFNFOUJT TVЗFSJOHGSPNBTUFQNJTNBUDI Q UIFVTFSBHFOUNVTUSPVOEUIFFMFNFOUT WBMVF Q UPUIF


    OFBSFTUOVNCFSGPSXIJDIUIFFMFNFOUXPVMEOPU TVЗFSGSPNBTUFQNJTNBUDI Q BOEXIJDIJTHSFBUFSUIBOPSFRVBM
    UPUIF NJOJNVN Q BOE JGUIF NBYJNVN Q JTOPUMFTTUIBOUIF NJOJNVN Q XIJDIJTMFTTUIBOPSFRVBMUPUIF
    NBYJNVN Q 

    0B? ;FAILCNBGNI=IHP?LN;MNLCHANI;HOG<?L J


    ACP?H;MNLCHA BGINM
    CM;M@IFFIQM*GBQQMZJOHUIF SVMFTGPS
    QBSTJOHЙPBUJOHQPJOUOVNCFSWBMVFT Q UP 8=?DC SFTVMUTJOBOFSSPS UIFOSFUVSOBOFSSPSPUIFSXJTF SFUVSOUIFSFTVMUJOH
    OVNCFS

    
    0B? ;FAILCNBGNI=IHP?LN;HOG<?LNI;MNLCHA J
    ACP?H;HOG<?L BGINM
    CM;M@IFFIQM3FUVSOB WBMJE
    ЙPBUJOHQPJOUOVNCFS Q UIBUSFQSFTFOUT 8=?DC

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q MJTU Q
    NBY Q NJO Q BOE TUFQ Q DPOUFOUBUUSJCVUFT MJTU Q WBMVF Q WBMVF"T/VNCFS Q BOE TFMFDUFE0QUJPO Q *%-BUUSJCVUFT
    TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBYMFOHUI Q NVMUJQMF Q QBUUFSO Q
    QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q TJ[F Q TSD Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q BOE
    WBMVF"T%BUF Q *%-BUUSJCVUFT TFMFDU
    Q BOE TFU4FMFDUJPO3BOHF
    Q NFUIPET

    )FSFJTBOFYBNQMFPGBSBOHFDPOUSPMVTJOHBOBVUPDPNQMFUFMJTUXJUIUIF MJTU Q BUUSJCVUF5IJTDPVMECFVTFGVM


    JGUIFSFBSFWBMVFTBMPOHUIFGVMMSBOHFPGUIFDPOUSPMUIBUBSFFTQFDJBMMZJNQPSUBOU TVDIBTQSFDPOИHVSFEMJHIU
    MFWFMTPSUZQJDBMTQFFEMJNJUTJOBSBOHFDPOUSPMVTFEBTBTQFFEDPOUSPM5IFGPMMPXJOHNBSLVQGSBHNFOU

    JOQVUUZQFSBOHFNJONBYWBMVFTUFQOBNFQPXFSMJTUQPXFST
    EBUBMJTUJEQPXFST
    PQUJPOWBMVF
    PQUJPOWBMVF
    PQUJPOWBMVF
    PQUJPOWBMVF 
    EBUBMJTU

    XJUIUIFGPMMPXJOHTUZMFTIFFUBQQMJFE

    JOQVU\IFJHIUQYXJEUIQYCBDLHSPVOE%$$##DPMPSCMBDL^

    NJHIUSFOEFSBT

    /PUFIPXUIF6"EFUFSNJOFEUIFPSJFOUBUJPOPGUIFDPOUSPMGSPNUIFSBUJPPGUIFTUZMFTIFFUTQFDJИFEIFJHIUBOE
    XJEUIQSPQFSUJFT5IFDPMPSTXFSFTJNJMJBSMZEFSJWFEGSPNUIFTUZMFTIFFU5IFUJDLNBSLT IPXFWFS XFSFEFSJWFE
    GSPNUIFNBSLVQ*OQBSUJDVMBS UIF TUFQ Q BUUSJCVUFIBTOPUBЗFDUFEUIFQMBDFNFOUPGUJDLNBSLT UIF6"
    EFDJEJOHUPPOMZVTFUIFBVUIPSTQFDJИFEDPNQMFUJPOWBMVFTBOEUIFOBEEJOHMPOHFSUJDLNBSLTBUUIFFYUSFNFT

    /PUFBMTPIPXUIFJOWBMJEWBMVF  XBTDPNQMFUFMZJHOPSFE

    'PSBOPUIFSFYBNQMF DPOTJEFSUIFGPMMPXJOHNBSLVQGSBHNFOU

    JOQVUOBNFYUZQFSBOHFNJONBYTUFQWBMVF

    "VTFSBHFOUDPVMEEJTQMBZJOBWBSJFUZPGXBZT GPSJOTUBODF

    0S BMUFSOBUJWFMZ GPSJOTUBODF

    
    5IFVTFSBHFOUDPVMEQJDLXIJDIPOFUPEJTQMBZCBTFEPOUIFEJNFOTJPOTHJWFOJOUIFTUZMFTIFFU5IJTXPVME
    BMMPXJUUPNBJOUBJOUIFTBNFSFTPMVUJPOGPSUIFUJDLNBSLT EFTQJUFUIFEJЗFSFODFTJOXJEUI

         HEHK LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF $PMPS Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPMPSXFMMDPOUSPM GPSTFUUJOHUIFFMFNFOUT WBMVF Q UPBTUSJOHSFQSFTFOUJOHB
    TJNQMFDPMPS Q 

    *HM> %GMABLLM:M> MA>K>BL:EP:RL:<HEHKIB<D>= :G=MA>K>BLGHP:RMHL>MMA>O:EN>MHMA>


    >FIMRLMKBG@

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIFDPMPSSFQSFTFOUFECZJUT WBMVF Q BT


    PCUBJOFEGSPNBQQMZJOHUIF SVMFTGPSQBSTJOHTJNQMFDPMPSWBMVFT Q UPJU6TFSBHFOUTNVTUOPUBMMPXUIFVTFSUPTFUUIF
    WBMVF Q UPBTUSJOHUIBUJTOPUB WBMJEMPXFSDBTFTJNQMFDPMPS Q *GUIFVTFSBHFOUQSPWJEFTBVTFSJOUFSGBDFGPS
    TFMFDUJOHBDPMPS UIFOUIF WBMVF Q NVTUCFTFUUPUIFSFTVMUPGVTJOHUIF SVMFTGPSTFSJBMJ[JOHTJNQMFDPMPSWBMVFT Q UP
    UIFVTFSTTFMFDUJPO6TFSBHFOUTNVTUOPUBMMPXUIFVTFSUPTFUUIF WBMVF Q UPUIFFNQUZTUSJOH

    5IF WBMVF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJETJNQMFDPMPS Q 

    0B? P;FO?M;HCNCT;NCIH;FAILCNBG J CM;M@IFFIQM*GUIF WBMVF Q PGUIFFMFNFOUJTB WBMJETJNQMFDPMPS Q UIFO
    TFUJUUPUIF WBMVF Q PGUIFFMFNFOU DPOWFSUFEUP"4$**MPXFSDBTF Q PUIFSXJTF TFUJUUPUIFTUSJOH

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFT *%-BUUSJCVUFT BOENFUIPETBQQMZUPUIFFMFNFOU BVUPDPNQMFUF Q BOE
    MJTU Q DPOUFOUBUUSJCVUFT MJTU Q WBMVF Q BOE TFMFDUFE0QUJPO Q *%-BUUSJCVUFT
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF WBMVF Q 
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTBQQMZ
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q DIFDLFE Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q NBYMFOHUI Q NBY Q NJO Q NVMUJQMF Q
    QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q TJ[F Q TSD Q TUFQ Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q
    WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-BUUSJCVUFT TFMFDU
    Q TFU4FMFDUJPO3BOHF
    Q TUFQ%PXO
    Q BOE TUFQ6Q
    Q
    NFUIPET

         A><D;HQ LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF $IFDLCPY Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BUXPTUBUFDPOUSPMUIBUSFQSFTFOUTUIFFMFNFOUT DIFDLFEOFTT Q TUBUF*GUIF
    FMFNFOUT DIFDLFEOFTT Q TUBUFJTUSVF UIFDPOUSPMSFQSFTFOUTBQPTJUJWFTFMFDUJPO BOEJGJUJTGBMTF BOFHBUJWF
    TFMFDUJPO*GUIFFMFNFOUT JOEFUFSNJOBUF Q *%-BUUSJCVUFJTTFUUPUSVF UIFOUIFDPOUSPMTTFMFDUJPOTIPVMECF
    PCTDVSFEBTJGUIFDPOUSPMXBTJOBUIJSE JOEFUFSNJOBUF TUBUF

    *HM> 0A><HGMKHEBLG>O>K:MKN>MKB
    LM:M><HGMKHE >O>GB?MA>>E>F>GML BG=>M>KFBG:M> I % (
    :MMKB;NM>BLL>MMHMKN> 0A> BG=>M>KFBG:M> I % (:MMKB;NM>HGER@BO>LMA>:II>:K:G<>H?:MABK=
    LM:M>

    *GUIFFMFNFOUJT <DC01;4 ?  UIFO5IF QSFDMJDLBDUJWBUJPOTUFQT Q DPOTJTUPGTFUUJOHUIFFMFNFOUT DIFDLFEOFTT Q UP


    JUTPQQPTJUFWBMVF JFUSVFJGJUJTGBMTF GBMTFJGJUJTUSVF
    BOEPGTFUUJOHUIFFMFNFOUT JOEFUFSNJOBUF Q *%-BUUSJCVUF
    UPGBMTF5IF DBODFMFEBDUJWBUJPOTUFQT Q DPOTJTUPGTFUUJOHUIF DIFDLFEOFTT Q BOEUIFFMFNFOUT JOEFUFSNJOBUF Q
    *%-BUUSJCVUFCBDLUPUIFWBMVFTUIFZIBECFGPSFUIF QSFDMJDLBDUJWBUJPOTUFQT Q XFSFSVO5IF BDUJWBUJPOCFIBWJPS Q JT
    UP ИSFBTJNQMFFWFOU Q UIBUCVCCMFTOBNFE DIBOHF BUUIFFMFNFOU UIFO CSPBEDBTU GPSNDIBOHF FWFOUT Q BUUIF
    FMFNFOUT GPSNPXOFS Q 

    IHMNL;CHNP;FC>;NCIH*GUIFFMFNFOUJT A4@D8A43 ? BOEJUT DIFDLFEOFTT Q JTGBMTF UIFOUIFFMFNFOUJT TVЗFSJOH


    GSPNCFJOHNJTTJOH Q 

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    BGINM DI?@O@MHDI<O@ 7 O:EN> 8
    8IFOTFU PWFSSJEFTUIFSFOEFSJOHPG DIFDLCPY Q DPOUSPMTTPUIBUUIFDVSSFOUWBMVFJTOPUWJTJCMF

    
    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFTBOE*%-BUUSJCVUFTBQQMZUPUIFFMFNFOU DIFDLFE Q BOE SFRVJSFE Q DPOUFOU
    BUUSJCVUFT DIFDLFE Q BOE WBMVF Q *%-BUUSJCVUFT
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF EFGBVMUPO Q 
    Ο5IF DIBOHF Q FWFOUBQQMJFT
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q BVUPDPNQMFUF Q
    GPSNBDUJPO Q GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q MJTU Q NBY Q NBYMFOHUI Q NJO Q
    NVMUJQMF Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q TJ[F Q TSD Q TUFQ Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU GJMFT Q MJTU Q TFMFDUFE0QUJPO Q TFMFDUJPO4UBSU Q
    TFMFDUJPO&OE Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-BUUSJCVUFT TFMFDU
    Q TFU4FMFDUJPO3BOHF
    Q TUFQ%PXO
    Q BOE
    TUFQ6Q
    Q NFUIPET
    Ο5IF JOQVU Q FWFOUEPFTOPUBQQMZ

         .:=BHNMMHG LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 3BEJP#VUUPO Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BDPOUSPMUIBU XIFOVTFEJODPOKVODUJPOXJUIPUIFS JOQVU Q FMFNFOUT GPSNTB
    A038>1DCC>=6A>D? ? JOXIJDIPOMZPOFDPOUSPMDBOIBWFJUT DIFDLFEOFTT Q TUBUFTFUUPUSVF*GUIFFMFNFOUT
    DIFDLFEOFTT Q TUBUFJTUSVF UIFDPOUSPMSFQSFTFOUTUIFTFMFDUFEDPOUSPMJOUIFHSPVQ BOEJGJUJTGBMTF JUJOEJDBUFTB
    DPOUSPMJOUIFHSPVQUIBUJTOPUTFMFDUFE

    5IF K:=BH;NMMHG@KHNI UIBUDPOUBJOTBO JOQVU Q FMFNFOU 0 BMTPDPOUBJOTBMMUIFPUIFS JOQVU Q FMFNFOUT 1 UIBU
    GVMИMMBMMPGUIFGPMMPXJOHDPOEJUJPOT

    Ǭ 5IF JOQVU Q FMFNFOU 1T UZQF Q BUUSJCVUFJTJOUIF 3BEJP#VUUPO Q TUBUF

    Ǭ &JUIFS 0 BOE 1 IBWFUIFTBNF GPSNPXOFS Q PSUIFZCPUIIBWFOP GPSNPXOFS Q 

    Ǭ 5IFZCPUIIBWFB OBNF Q BUUSJCVUF BOEUIFWBMVFPG 0T OBNF Q BUUSJCVUFJTB DPNQBUJCJMJUZDBTFMFTT Q
    NBUDIGPSUIFWBMVFPG 1T OBNF Q BUUSJCVUF

    "EPDVNFOUNVTUOPUDPOUBJOBO JOQVU Q FMFNFOUXIPTF A038>1DCC>=6A>D? ? DPOUBJOTPOMZUIBUFMFNFOU

    8IFOBOZPGUIFGPMMPXJOHFWFOUTPDDVS JGUIFFMFNFOUT DIFDLFEOFTT Q TUBUFJTUSVFBGUFSUIFFWFOU UIF


    DIFDLFEOFTT Q TUBUFPGBMMUIFPUIFSFMFNFOUTJOUIFTBNF A038>1DCC>=6A>D? ? NVTUCFTFUUPGBMTF

    Ǭ 5IFFMFNFOUT DIFDLFEOFTT Q TUBUFJTTFUUPUSVF GPSXIBUFWFSSFBTPO


    

    Ǭ 5IFFMFNFOUT OBNF Q BUUSJCVUFJTBEEFE SFNPWFE PSDIBOHFTWBMVF

    Ǭ 5IFFMFNFOUT GPSNPXOFS Q DIBOHFT

    *GUIFFMFNFOUJT <DC01;4 ?  UIFO5IF QSFDMJDLBDUJWBUJPOTUFQT Q DPOTJTUPGTFUUJOHUIFFMFNFOUT DIFDLFEOFTT Q UP


    USVF5IF DBODFMFEBDUJWBUJPOTUFQT Q DPOTJTUPGTFUUJOHUIFFMFNFOUT DIFDLFEOFTT Q UPGBMTF5IF BDUJWBUJPO
    CFIBWJPS Q JTUP ИSFBTJNQMFFWFOU Q UIBUCVCCMFTOBNFE DIBOHF BUUIFFMFNFOU UIFO CSPBEDBTU GPSNDIBOHF
    FWFOUT Q BUUIFFMFNFOUT GPSNPXOFS Q 

    IHMNL;CHNP;FC>;NCIH*GUIFFMFNFOUJT A4@D8A43 ? BOEBMMPGUIF JOQVU Q FMFNFOUTJOUIF A038>1DCC>=6A>D? ?


    IBWFB DIFDLFEOFTT Q UIBUJTGBMTF UIFOUIFFMFNFOUJT TVЗFSJOHGSPNCFJOHNJTTJOH Q 

    *HM> %?GHG>H?MA>K:=BH;NMMHGLBG: K:=BH;NMMHG@KHNI I :K><A><D>=PA>GMA>R:K>BGL>KM>=


    BGMHMA>=H<NF>GM MA>GMA>RPBEE:EE;>BGBMB:EERNG<A><D>=BGMA>BGM>K?:<> NGMBELN<AMBF>:LHG>
    H?MA>FBL<A><D>=>BMA>K;RMA>NL>KHK;RL<KBIM

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFTBOE*%-BUUSJCVUFTBQQMZUPUIFFMFNFOU DIFDLFE Q BOE SFRVJSFE Q DPOUFOU
    BUUSJCVUFT DIFDLFE Q BOE WBMVF Q *%-BUUSJCVUFT
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF EFGBVMUPO Q 
    Ο5IF DIBOHF Q FWFOUBQQMJFT
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q BVUPDPNQMFUF Q
    GPSNBDUJPO Q GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q MJTU Q NBY Q NBYMFOHUI Q NJO Q
    NVMUJQMF Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q TJ[F Q TSD Q TUFQ Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU GJMFT Q MJTU Q TFMFDUFE0QUJPO Q TFMFDUJPO4UBSU Q
    TFMFDUJPO&OE Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-BUUSJCVUFT TFMFDU
    Q TFU4FMFDUJPO3BOHF
    Q TUFQ%PXO
    Q BOE
    TUFQ6Q
    Q NFUIPET

    
    Ο5IF JOQVU Q FWFOUEPFTOPUBQQMZ

         "BE>1IEH:= LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 'JMF6QMPBE Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BMJTUPG M?F?=N?>]F?M FBDIИMFDPOTJTUJOHPGBИMFOBNF BИMFUZQF BOEBИMF
    CPEZ UIFDPOUFOUTPGUIFИMF
    

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIFИMFTPOUIFMJTU FHBEEJOHPS


    SFNPWJOHИMFT'JMFTDBOCFGSPNUIFИMFTZTUFNPSDSFBUFEPOUIFЙZ FHBQJDUVSFUBLFOGSPNBDBNFSBDPOOFDUFEUP
    UIFVTFSTEFWJDF

    IHMNL;CHNP;FC>;NCIH*GUIFFMFNFOUJT A4@D8A43 ? BOEUIFMJTUPG TFMFDUFEИMFT Q JTFNQUZ UIFOUIFFMFNFOUJT


    TVЗFSJOHGSPNCFJOHNJTTJOH Q 

    6OMFTTUIF NVMUJQMF Q BUUSJCVUFJTTFU UIFSFNVTUCFOPNPSFUIBOPOFИMFJOUIFMJTUPG TFMFDUFEИMFT Q 

    5IF <>>@KO BUUSJCVUFNBZCFTQFDJИFEUPQSPWJEFVTFSBHFOUTXJUIBIJOUPGXIBUИMFUZQFTUIFTFSWFSXJMMCFBCMFUP


    BDDFQU

    *GTQFDJИFE UIFBUUSJCVUFNVTUDPOTJTUPGB TFUPGDPNNBTFQBSBUFEUPLFOT Q FBDIPGXIJDINVTUCFBO "4$**DBTF


    JOTFOTJUJWF Q NBUDIGPSPOFPGUIFGPMMPXJOH

    0B?MNLCHA <P?DJ
    *OEJDBUFTUIBUTPVOEИMFTBSFBDDFQUFE

    0B?MNLCHA QD?@J
    *OEJDBUFTUIBUWJEFPИMFTBSFBDDFQUFE

    0B?MNLCHA DH<B@
    *OEJDBUFTUIBUJNBHFИMFTBSFBDDFQUFE

     P;FC>)%)!NSJ?QCNBHIJ;L;G?N?LM J
    *OEJDBUFTUIBUИMFTPGUIFTQFDJИFEUZQFBSFBDDFQUFE

    5IFUPLFOTNVTUOPUCF "4$**DBTFJOTFOTJUJWF Q NBUDIFTGPSBOZPGUIFPUIFSUPLFOT JFEVQMJDBUFTBSFOPUBMMPXFE


    
    5PPCUBJOUIFMJTUPGUPLFOTGSPNUIFBUUSJCVUF UIFVTFSBHFOUNVTU TQMJUUIFBUUSJCVUFWBMVFPODPNNBT Q 

    6TFSBHFOUTTIPVMEQSFWFOUUIFVTFSGSPNTFMFDUJOHИMFTUIBUBSFOPUBDDFQUFECZPOF PSNPSF
    PGUIFTFUPLFOT

    'PSIJTUPSJDBMSFBTPOT UIF WBMVF Q *%-BUUSJCVUFQSFИYFTUIFИMFOBNFXJUIUIFTUSJOH$=GBLFQBUI=4PNF


    MFHBDZVTFSBHFOUTBDUVBMMZJODMVEFEUIFGVMMQBUI XIJDIXBTBTFDVSJUZWVMOFSBCJMJUZ
    "TBSFTVMUPGUIJT
    PCUBJOJOHUIFИMFOBNFGSPNUIF WBMVF Q *%-BUUSJCVUFJOBCBDLXBSETDPNQBUJCMFXBZJTOPOUSJWJBM5IF
    GPMMPXJOHGVODUJPOFYUSBDUTUIFИMFOBNFJOBTVJUBCMZDPNQBUJCMFNBOOFS

    GVODUJPOFYUSBDU'JMFOBNF QBUI
    \
    WBSY
    YQBUIMBTU*OEFY0G ==
    
    JG Y
    8JOEPXTCBTFEQBUI
    SFUVSOQBUITVCTUS Y 
    
    YQBUIMBTU*OEFY0G 
    
    JG Y
    6OJYCBTFEQBUI
    SFUVSOQBUITVCTUS Y 
    
    SFUVSOQBUIKVTUUIFGJMFOBNF
    ^

    5IJTDBOCFVTFEBTGPMMPXT

    QJOQVUUZQFGJMFOBNFJNBHFPODIBOHFVQEBUF'JMFOBNF UIJTWBMVF
    Q
    Q5IFOBNFPGUIFGJMFZPVQJDLFEJTTQBOJEGJMFOBNF OPOF
    TQBOQ
    TDSJQU
    GVODUJPOVQEBUF'JMFOBNF QBUI
    \
    WBSOBNFFYUSBDU'JMFOBNF QBUI
    
    EPDVNFOUHFU&MFNFOU#Z*E GJMFOBNF
    UFYU$POUFOUOBNF
    ^
    TDSJQU

    
    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFTBQQMZUPUIFFMFNFOU
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFTBOE*%-BUUSJCVUFTBQQMZUPUIFFMFNFOU BDDFQU Q NVMUJQMF Q BOE
    SFRVJSFE Q  GJMFT Q BOE WBMVF Q *%-BUUSJCVUFT
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF ИMFOBNF Q 
    Ο5IF DIBOHF Q FWFOUBQQMJFT
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BMU Q BVUPDPNQMFUF Q DIFDLFE Q
    GPSNBDUJPO Q GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q MJTU Q NBY Q NBYMFOHUI Q NJO Q
    QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q TJ[F Q TSD Q TUFQ Q BOE XJEUI Q 
    Ο5IFFMFNFOUT WBMVF Q BUUSJCVUFNVTUCFPNJUUFE
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q MJTU Q TFMFDUFE0QUJPO Q TFMFDUJPO4UBSU Q
    TFMFDUJPO&OE Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-BUUSJCVUFT TFMFDU
    Q TFU4FMFDUJPO3BOHF
    Q TUFQ%PXO
    Q BOE
    TUFQ6Q
    Q NFUIPET
    Ο5IF JOQVU Q FWFOUEPFTOPUBQQMZ

         /N;FBMNMMHG LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 4VCNJU#VUUPO Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BCVUUPOUIBU XIFOBDUJWBUFE TVCNJUTUIFGPSN *GUIFFMFNFOUIBTB WBMVF Q
    BUUSJCVUF UIFCVUUPOTMBCFMNVTUCFUIFWBMVFPGUIBUBUUSJCVUFPUIFSXJTF JUNVTUCFBOJNQMFNFOUBUJPOEFИOFETUSJOH
    UIBUNFBOT4VCNJUPSTPNFTVDI 5IFFMFNFOUJTB CVUUPO Q TQFDJИDBMMZB TVCNJUCVUUPO Q 

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPBDUJWBUFUIFFMFNFOU

    5IFFMFNFOUT BDUJWBUJPOCFIBWJPS Q JGUIFFMFNFOUIBTB GPSNPXOFS Q JTUP TVCNJU Q UIF GPSNPXOFS Q GSPNUIF
    JOQVU Q FMFNFOUPUIFSXJTF JUJTUPEPOPUIJOH

    5IF GPSNBDUJPO Q GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q BOE GPSNUBSHFU Q BUUSJCVUFTBSF
    BUUSJCVUFTGPSGPSNTVCNJTTJPO Q 

    *HM> 0A> ?HKFGHO:EB=:M> I :MMKB;NM><:G;>NL>=MHF:D>LN;FBM;NMMHGLMA:M=HGHMMKB@@>KMA>


    <HGLMK:BGMO:EB=:MBHG

    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFTBOE*%-BUUSJCVUFTBQQMZUPUIFFMFNFOU GPSNBDUJPO Q GPSNFODUZQF Q
    GPSNNFUIPE Q GPSNOPWBMJEBUF Q BOE GPSNUBSHFU Q DPOUFOUBUUSJCVUFT WBMVF Q *%-BUUSJCVUF
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF EFGBVMU Q 
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q BVUPDPNQMFUF Q DIFDLFE Q
    IFJHIU Q MJTU Q NBY Q NBYMFOHUI Q NJO Q NVMUJQMF Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q TJ[F Q
    TSD Q TUFQ Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q MJTU Q TFMFDUFE0QUJPO Q
    TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-BUUSJCVUFT TFMFDU
    Q TFU4FMFDUJPO3BOHF
    Q
    TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTEPOPUBQQMZ

         %F:@>NMMHG LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF *NBHF#VUUPO Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q FJUIFSBOJNBHFGSPNXIJDIBVTFSDBOTFMFDUBDPPSEJOBUFBOETVCNJUUIFGPSN


    PSBMUFSOBUJWFMZBCVUUPOGSPNXIJDIUIFVTFSDBOTVCNJUUIFGPSN5IFFMFNFOUJTB CVUUPO Q TQFDJИDBMMZB TVCNJU
    CVUUPO Q 

    5IFJNBHFJTHJWFOCZUIF NM> BUUSJCVUF5IF TSD Q BUUSJCVUFNVTUCFQSFTFOU BOENVTUDPOUBJOB WBMJEOPOFNQUZ


    63- Q SFGFSFODJOHBOPOJOUFSBDUJWF PQUJPOBMMZBOJNBUFE JNBHFSFTPVSDFUIBUJTOFJUIFSQBHFEOPSTDSJQUFE

    8IFOBOZPGUIFGPMMPXJOHFWFOUTPDDVS VOMFTTUIFVTFSBHFOUDBOOPUTVQQPSUJNBHFT PSJUTTVQQPSUGPSJNBHFTIBT


    CFFOEJTBCMFE PSUIFVTFSBHFOUPOMZGFUDIFTFMFNFOUTPOEFNBOE PSUIF TSD Q BUUSJCVUFTWBMVFJTUIFFNQUZTUSJOH
    UIFVTFSBHFOUNVTU SFTPMWF Q UIFWBMVFPGUIF TSD Q BUUSJCVUF SFMBUJWFUPUIFFMFNFOU BOEJGUIBUJTTVDDFTTGVM NVTU
    GFUDI Q UIFSFTVMUJOH BCTPMVUF63- Q 

    Ǭ 5IF JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTИSTUTFUUPUIF *NBHF#VUUPO Q TUBUF QPTTJCMZXIFOUIF
    FMFNFOUJTИSTUDSFBUFE
    BOEUIF TSD Q BUUSJCVUFJTQSFTFOU

    
    Ǭ 5IF JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTDIBOHFECBDLUPUIF *NBHF#VUUPO Q TUBUF BOEUIF TSD Q
    BUUSJCVUFJTQSFTFOU BOEJUTWBMVFIBTDIBOHFETJODFUIFMBTUUJNFUIF UZQF Q BUUSJCVUFXBTJOUIF *NBHF
    #VUUPO Q TUBUF

    Ǭ 5IF JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF *NBHF#VUUPO Q TUBUF BOEUIF TSD Q BUUSJCVUFJTTFUPS
    DIBOHFE

    'FUDIJOHUIFJNBHFNVTU EFMBZUIFMPBEFWFOU Q PGUIFFMFNFOUTEPDVNFOUVOUJMUIF UBTL Q UIBUJT RVFVFE Q CZ


    UIF OFUXPSLJOHUBTLTPVSDF Q PODFUIFSFTPVSDFIBTCFFO GFUDIFE Q EFИOFECFMPX
    IBTCFFOSVO

    *GUIFJNBHFXBTTVDDFTTGVMMZPCUBJOFE XJUIOPOFUXPSLFSSPST BOEUIFJNBHFTUZQFJTBTVQQPSUFEJNBHFUZQF BOE


    UIFJNBHFJTBWBMJEJNBHFPGUIBUUZQF UIFOUIFJNBHFJTTBJEUPCF :O:BE:;E>*GUIJTJTUSVFCFGPSFUIFJNBHFJT
    DPNQMFUFMZEPXOMPBEFE FBDI UBTL Q UIBUJT RVFVFE Q CZUIF OFUXPSLJOHUBTLTPVSDF Q XIJMFUIFJNBHFJTCFJOH
    GFUDIFE Q NVTUVQEBUFUIFQSFTFOUBUJPOPGUIFJNBHFBQQSPQSJBUFMZ

    5IFVTFSBHFOUTTIPVMEBQQMZUIF JNBHFTOJКOHSVMFT Q UPEFUFSNJOFUIFUZQFPGUIFJNBHF XJUIUIFJNBHFT


    BTTPDJBUFE$POUFOU5ZQFIFBEFST Q HJWJOHUIF >R280;CH?4*GUIFTFSVMFTBSFOPUBQQMJFE UIFOUIFUZQFPGUIFJNBHF
    NVTUCFUIFUZQFHJWFOCZUIFJNBHFT BTTPDJBUFE$POUFOU5ZQFIFBEFST Q 

    6TFSBHFOUTNVTUOPUTVQQPSUOPOJNBHFSFTPVSDFTXJUIUIF JOQVU Q FMFNFOU6TFSBHFOUTNVTUOPUSVOFYFDVUBCMF


    DPEFFNCFEEFEJOUIFJNBHFSFTPVSDF6TFSBHFOUTNVTUPOMZEJTQMBZUIFИSTUQBHFPGBNVMUJQBHFSFTPVSDF6TFS
    BHFOUTNVTUOPUBMMPXUIFSFTPVSDFUPBDUJOBOJOUFSBDUJWFGBTIJPO CVUTIPVMEIPOPSBOZBOJNBUJPOJOUIFSFTPVSDF

    5IF UBTL Q UIBUJT RVFVFE Q CZUIF OFUXPSLJOHUBTLTPVSDF Q PODFUIFSFTPVSDFIBTCFFO GFUDIFE Q NVTU JGUIF
    EPXOMPBEXBTTVDDFTTGVMBOEUIFJNBHFJT 0E08;01;4 ? RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BUUIF
    JOQVU Q FMFNFOUBOEPUIFSXJTF JGUIFGFUDIJOHQSPDFTTGBJMTXJUIPVUBSFTQPOTFGSPNUIFSFNPUFTFSWFS PS
    DPNQMFUFTCVUUIFJNBHFJTOPUBWBMJEPSTVQQPSUFEJNBHF RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FSSPS PO
    UIF JOQVU Q FMFNFOU

    5IF <GO BUUSJCVUFQSPWJEFTUIFUFYUVBMMBCFMGPSUIFBMUFSOBUJWFCVUUPOGPSVTFSTBOEVTFSBHFOUTXIPDBOOPUVTFUIF


    JNBHF5IF BMU Q BUUSJCVUFNVTUBMTPCFQSFTFOU BOENVTUDPOUBJOBOPOFNQUZTUSJOH

    5IF JOQVU Q FMFNFOUTVQQPSUT EJNFOTJPOBUUSJCVUFT Q 

    *GUIF TSD Q BUUSJCVUFJTTFU BOEUIFJNBHFJT 0E08;01;4 ? BOEUIFVTFSBHFOUJTDPOИHVSFEUPEJTQMBZUIBUJNBHF


    UIFO5IFFMFNFOU SFQSFTFOUT Q BDPOUSPMGPSTFMFDUJOHB DPPSEJOBUF Q GSPNUIFJNBHFTQFDJИFECZUIF TSD Q
    BUUSJCVUFJGUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPTFMFDUUIJT DPPSEJOBUF Q 5IF
    BDUJWBUJPOCFIBWJPS Q JOUIJTDBTFDPOTJTUTPGUBLJOHUIFVTFSTTFMFDUFE DPPSEJOBUF Q BOEUIFO JGUIFFMFNFOUIBTB
    GPSNPXOFS Q TVCNJUUJOH Q UIF JOQVU Q FMFNFOUT GPSNPXOFS Q GSPNUIF JOQVU Q FMFNFOU*GUIFVTFSBDUJWBUFT
    UIFDPOUSPMXJUIPVUFYQMJDJUMZTFMFDUJOHBDPPSEJOBUF UIFOUIFDPPSEJOBUF  
    NVTUCFBTTVNFE

    0UIFSXJTF UIFFMFNFOU SFQSFTFOUT Q BTVCNJUCVUUPOXIPTFMBCFMJTHJWFOCZUIFWBMVFPGUIF BMU Q BUUSJCVUFJGUIF


    FMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPBDUJWBUFUIFCVUUPO5IF BDUJWBUJPOCFIBWJPS Q JOUIJT
    DBTFDPOTJTUTPGTFUUJOHUIF TFMFDUFEDPPSEJOBUF Q UP  
    BOEUIFO JGUIFFMFNFOUIBTB GPSNPXOFS Q
    TVCNJUUJOH Q UIF JOQVU Q FMFNFOUT GPSNPXOFS Q GSPNUIF JOQVU Q FMFNFOU

    5IF M?F?=N?>=IIL>CH;N? NVTUDPOTJTUPGBO GDPNQPOFOUBOEB HDPNQPOFOU5IFDPPSEJOBUFTSFQSFTFOUUIFQPTJUJPO


    SFMBUJWFUPUIFFEHFPGUIFJNBHF XJUIUIFDPPSEJOBUFTQBDFIBWJOHUIFQPTJUJWF G EJSFDUJPOUPUIFSJHIU BOEUIF
    QPTJUJWF H EJSFDUJPOEPXOXBSET

    5IF GDPNQPOFOUNVTUCFB WBMJEJOUFHFS Q SFQSFTFOUJOHBOVNCFS G JOUIFSBOHF ʐ 1>A34A;45C ?0338=6;45C


    ˘ G ˘
    F83C7 1>A34AA867C ?0338=6A867C XIFSF F83C7 JTUIFSFOEFSFEXJEUIPGUIFJNBHF 1>A34A;45C JTUIFXJEUIPGUIFCPSEFS
    POUIFMFGUPGUIFJNBHF ?0338=6;45C JTUIFXJEUIPGUIFQBEEJOHPOUIFMFGUPGUIFJNBHF 1>A34AA867C JTUIFXJEUIPGUIF
    CPSEFSPOUIFSJHIUPGUIFJNBHF BOE ?0338=6A867C JTUIFXJEUIPGUIFQBEEJOHPOUIFSJHIUPGUIFJNBHF XJUIBMM
    EJNFOTJPOTHJWFOJO$44QJYFMT

    5IF HDPNQPOFOUNVTUCFB WBMJEJOUFHFS Q SFQSFTFOUJOHBOVNCFS H JOUIFSBOHF ʐ 1>A34AC>? ?0338=6C>?


    ˘ H ˘
    74867C 1>A34A1>CC>< ?0338=61>CC>< XIFSF 74867C JTUIFSFOEFSFEIFJHIUPGUIFJNBHF 1>A34AC>? JTUIFXJEUIPGUIF
    CPSEFSBCPWFUIFJNBHF ?0338=6C>? JTUIFXJEUIPGUIFQBEEJOHBCPWFUIFJNBHF 1>A34A1>CC>< JTUIFXJEUIPGUIF
    CPSEFSCFMPXUIFJNBHF BOE ?0338=61>CC>< JTUIFXJEUIPGUIFQBEEJOHCFMPXUIFJNBHF XJUIBMMEJNFOTJPOTHJWFOJO
    $44QJYFMT

    8IFSFBCPSEFSPSQBEEJOHJTNJTTJOH JUTXJEUIJT[FSP$44QJYFMT

    5IF GPSNBDUJPO Q GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q BOE GPSNUBSHFU Q BUUSJCVUFTBSF
    BUUSJCVUFTGPSGPSNTVCNJTTJPO Q 

    
    HHDD>>IBG@=>M:BEL
    Ο5IFGPMMPXJOHDPNNPO JOQVU Q FMFNFOUDPOUFOUBUUSJCVUFTBOE*%-BUUSJCVUFTBQQMZUPUIFFMFNFOU BMU Q GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q TSD Q BOE XJEUI Q DPOUFOUBUUSJCVUFT WBMVF Q *%-
    BUUSJCVUF
    Ο5IF WBMVF Q *%-BUUSJCVUFJTJONPEF EFGBVMU Q 
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BVUPDPNQMFUF Q DIFDLFE Q MJTU Q
    NBY Q NBYMFOHUI Q NJO Q NVMUJQMF Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q TJ[F Q BOE TUFQ Q 
    Ο5IFFMFNFOUT WBMVF Q BUUSJCVUFNVTUCFPNJUUFE
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q MJTU Q TFMFDUFE0QUJPO Q
    TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-BUUSJCVUFT TFMFDU
    Q TFU4FMFDUJPO3BOHF
    Q
    TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTEPOPUBQQMZ

    *HM> ):GR:LI><MLH?MABLLM:M>L;>A:OBHK:K>LBFBE:KMHMA>;>A:OBHKH?MA> BF@ I >E>F>GM


    .>:=>KL:K>>G<HNK:@>=MHK>:=MA:ML><MBHG PA>K>F:GRH?MA>L:F>K>JNBK>F>GML:K>
    =>L<KB;>=BGFHK>=>M:BE

         .>L>MNMMHG LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF 3FTFU#VUUPO Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BCVUUPOUIBU XIFOBDUJWBUFE SFTFUTUIFGPSN *GUIFFMFNFOUIBTB WBMVF Q
    BUUSJCVUF UIFCVUUPOTMBCFMNVTUCFUIFWBMVFPGUIBUBUUSJCVUFPUIFSXJTF JUNVTUCFBOJNQMFNFOUBUJPOEFИOFETUSJOH
    UIBUNFBOT3FTFUPSTPNFTVDI 5IFFMFNFOUJTB CVUUPO Q 

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPBDUJWBUFUIFFMFNFOU

    5IFFMFNFOUT BDUJWBUJPOCFIBWJPS Q JGUIFFMFNFOUIBTB GPSNPXOFS Q JTUP SFTFU Q UIF GPSNPXOFS Q PUIFSXJTF
    JUJTUPEPOPUIJOH

    IHMNL;CHNP;FC>;NCIH5IFFMFNFOUJT CBSSFEGSPNDPOTUSBJOUWBMJEBUJPO Q 

    HHDD>>IBG@=>M:BEL
    Ο5IF WBMVF Q *%-BUUSJCVUFBQQMJFTUPUIJTFMFNFOUBOEJTJONPEF EFGBVMU Q 
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q BVUPDPNQMFUF Q DIFDLFE Q
    GPSNBDUJPO Q GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q MJTU Q NBY Q NBYMFOHUI Q NJO Q
    NVMUJQMF Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q TJ[F Q TSD Q TUFQ Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q MJTU Q TFMFDUFE0QUJPO Q
    TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-BUUSJCVUFT TFMFDU
    Q TFU4FMFDUJPO3BOHF
    Q
    TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTEPOPUBQQMZ

         NMMHG LM:M>

    8IFOBO JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF #VUUPO Q TUBUF UIFSVMFTJOUIJTTFDUJPOBQQMZ

    5IF JOQVU Q FMFNFOU SFQSFTFOUT Q BCVUUPOXJUIOPEFGBVMUCFIBWJPS *GUIFFMFNFOUIBTB WBMVF Q BUUSJCVUF UIF
    CVUUPOTMBCFMNVTUCFUIFWBMVFPGUIBUBUUSJCVUFPUIFSXJTF JUNVTUCFUIFFNQUZTUSJOH 5IFFMFNFOUJTB CVUUPO Q 

    *GUIFFMFNFOUJT <DC01;4 ?  UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPBDUJWBUFUIFFMFNFOU5IFFMFNFOUT BDUJWBUJPO


    CFIBWJPS Q JTUPEPOPUIJOH

    IHMNL;CHNP;FC>;NCIH5IFFMFNFOUJT CBSSFEGSPNDPOTUSBJOUWBMJEBUJPO Q 

    HHDD>>IBG@=>M:BEL
    Ο5IF WBMVF Q *%-BUUSJCVUFBQQMJFTUPUIJTFMFNFOUBOEJTJONPEF EFGBVMU Q 
    Ο5IFGPMMPXJOHDPOUFOUBUUSJCVUFTNVTUOPUCFTQFDJИFEBOEEPOPUBQQMZUPUIFFMFNFOU BDDFQU Q BMU Q BVUPDPNQMFUF Q DIFDLFE Q
    GPSNBDUJPO Q GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q GPSNUBSHFU Q IFJHIU Q MJTU Q NBY Q NBYMFOHUI Q NJO Q
    NVMUJQMF Q QBUUFSO Q QMBDFIPMEFS Q SFBEPOMZ Q SFRVJSFE Q TJ[F Q TSD Q TUFQ Q BOE XJEUI Q 
    Ο5IFGPMMPXJOH*%-BUUSJCVUFTBOENFUIPETEPOPUBQQMZUPUIFFMFNFOU DIFDLFE Q GJMFT Q MJTU Q TFMFDUFE0QUJPO Q
    TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q WBMVF"T%BUF Q BOE WBMVF"T/VNCFS Q *%-BUUSJCVUFT TFMFDU
    Q TFU4FMFDUJPO3BOHF
    Q
    TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPET
    Ο5IF JOQVU Q BOE DIBOHF Q FWFOUTEPOPUBQQMZ

    
        IGGIH DIKPO K ?F?G?HN;NNLC<ON?M

    5IFTFBUUSJCVUFTPOMZBQQMZUPBO JOQVU Q FMFNFOUJGJUT UZQF Q BUUSJCVUFJTJOBTUBUFXIPTFEFИOJUJPOEFDMBSFTUIBU


    UIFBUUSJCVUFBQQMJFT8IFOBOBUUSJCVUFEPFTOUBQQMZUPBO JOQVU Q FMFNFOU VTFSBHFOUTNVTU JHOPSF Q UIF
    BUUSJCVUF SFHBSEMFTTPGUIFSFRVJSFNFOUTBOEEFИOJUJPOTCFMPX

         0A> :NMH<HFIE>M> I :MMKB;NM>

    6TFSBHFOUTTPNFUJNFTIBWFGFBUVSFTGPSIFMQJOHVTFSTИMMGPSNTJO GPSFYBNQMFQSFИMMJOHUIFVTFSTBEESFTTCBTFEPO
    FBSMJFSVTFSJOQVU

    5IF <POJ>JHKG@O@ BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q 5IFBUUSJCVUFIBTUISFFTUBUFT5IF PO LFZXPSENBQTUPUIF


    IH TUBUF BOEUIF PGG LFZXPSENBQTUPUIF I\ TUBUF5IFBUUSJCVUFNBZBMTPCFPNJUUFE5IF <8BB8=6E0;D43450D;C JT
    UIF >?@;OFN TUBUF

    5IF PЗ Q TUBUFJOEJDBUFTFJUIFSUIBUUIFDPOUSPMTJOQVUEBUBJTQBSUJDVMBSMZTFOTJUJWF GPSFYBNQMFUIFBDUJWBUJPODPEF


    GPSBOVDMFBSXFBQPO
    PSUIBUJUJTBWBMVFUIBUXJMMOFWFSCFSFVTFE GPSFYBNQMFBPOFUJNFLFZGPSBCBOLMPHJO
    BOE
    UIFVTFSXJMMUIFSFGPSFIBWFUPFYQMJDJUMZFOUFSUIFEBUBFBDIUJNF JOTUFBEPGCFJOHBCMFUPSFMZPOUIF6"UPQSFИMMUIF
    WBMVFGPSIJNPSUIBUUIFEPDVNFOUQSPWJEFTJUTPXOBVUPDPNQMFUFNFDIBOJTNBOEEPFTOPUXBOUUIFVTFSBHFOUUP
    QSPWJEFBVUPDPNQMFUJPOWBMVFT

    $POWFSTFMZ UIF PO Q TUBUFJOEJDBUFTUIBUUIFWBMVFJTOPUQBSUJDVMBSMZTFOTJUJWFBOEUIFVTFSDBOFYQFDUUPCFBCMFUP


    SFMZPOIJTVTFSBHFOUUPSFNFNCFSWBMVFTIFIBTFOUFSFEGPSUIBUDPOUSPM

    5IF EFGBVMU Q TUBUFJOEJDBUFTUIBUUIFVTFSBHFOUJTUPVTFUIF BVUPDPNQMFUF Q BUUSJCVUFPOUIFFMFNFOUT GPSN


    PXOFS Q JOTUFBE #ZEFGBVMU UIF BVUPDPNQMFUF Q BUUSJCVUFPG GPSN Q FMFNFOUTJTJOUIF PO Q TUBUF

    &BDI JOQVU Q FMFNFOUIBTB L?MOFNCHA;ONI=IGJF?NCIHMN;N? XIJDIJTFJUIFS >= PS >O

    8IFOBO JOQVU Q FMFNFOUJTJOPOFPGUIFGPMMPXJOHDPOEJUJPOT UIF JOQVU Q FMFNFOUT SFTVMUJOHBVUPDPNQMFUJPO


    TUBUF Q JT >=PUIFSXJTF UIF JOQVU Q FMFNFOUT SFTVMUJOHBVUPDPNQMFUJPOTUBUF Q JT >O

    Ǭ *UT BVUPDPNQMFUF Q BUUSJCVUFJTJOUIF PO Q TUBUF


    Ǭ *UT BVUPDPNQMFUF Q BUUSJCVUFJTJOUIF EFGBVMU Q TUBUF BOEUIFFMFNFOUIBTOP GPSNPXOFS Q 
    Ǭ *UT BVUPDPNQMFUF Q BUUSJCVUFJTJOUIF EFGBVMU Q TUBUF BOEUIFFMFNFOUT GPSNPXOFS Q T
    BVUPDPNQMFUF Q BUUSJCVUFJTJOUIF PO Q TUBUF

    8IFOBO JOQVU Q FMFNFOUT SFTVMUJOHBVUPDPNQMFUJPOTUBUF Q JT >= UIFVTFSBHFOUNBZTUPSFUIFWBMVFFOUFSFECZ


    UIFVTFSTPUIBUJGUIFVTFSSFUVSOTUPUIFQBHF UIF6"DBOQSFИMMUIFGPSN0UIFSXJTF UIFVTFSBHFOUTIPVMEOPU
    SFNFNCFSUIFDPOUSPMT WBMVF Q BOETIPVMEOPUPЗFSQBTUWBMVFTUPUIFVTFS

    *OBEEJUJPO JGUIF SFTVMUJOHBVUPDPNQMFUJPOTUBUF Q JT >O WBMVFTBSFSFTFU Q XIFO USBWFSTJOHUIFIJTUPSZ Q 

    5IFBVUPDPNQMFUJPONFDIBOJTNNVTUCFJNQMFNFOUFECZUIFVTFSBHFOUBDUJOHBTJGUIFVTFSIBENPEJИFEUIF
    FMFNFOUT WBMVF Q BOENVTUCFEPOFBUBUJNFXIFSFUIFFMFNFOUJT <DC01;4 ?  FHKVTUBGUFSUIFFMFNFOUIBT
    CFFOJOTFSUFEJOUPUIFEPDVNFOU PSXIFOUIFVTFSBHFOU TUPQTQBSTJOH Q
    

    #BOLTGSFRVFOUMZEPOPUXBOU6"TUPQSFИMMMPHJOJOGPSNBUJPO

    QMBCFM"DDPVOUJOQVUUZQFUFYUOBNFBDBVUPDPNQMFUFPGGMBCFMQ
    QMBCFM1*/JOQVUUZQFQBTTXPSEOBNFQJOBVUPDPNQMFUFPGGMBCFMQ

    "VTFSBHFOUNBZBMMPXUIFVTFSUPPWFSSJEFUIF SFTVMUJOHBVUPDPNQMFUJPOTUBUF Q BOETFUJUUPBMXBZT >= BMXBZT


    BMMPXJOHWBMVFTUPCFSFNFNCFSFEBOEQSFИMMFE
    PSBMXBZT >O OFWFSSFNFNCFSJOHWBMVFT)PXFWFS UIFBCJMJUZUP
    PWFSSJEFUIF SFTVMUJOHBVUPDPNQMFUJPOTUBUF Q UP >= TIPVMEOPUCFUSJWJBMMZBDDFTTJCMF BTUIFSFBSFTJHOJИDBOUTFDVSJUZ
    JNQMJDBUJPOTGPSUIFVTFSJGBMMWBMVFTBSFBMXBZTSFNFNCFSFE SFHBSEMFTTPGUIFTJUFTQSFGFSFODFT

         0A> EBLM I :MMKB;NM>

    5IF GDNO BUUSJCVUFJTVTFEUPJEFOUJGZBOFMFNFOUUIBUMJTUTQSFEFИOFEPQUJPOTTVHHFTUFEUPUIFVTFS

    *GQSFTFOU JUTWBMVFNVTUCFUIF*%PGB EBUBMJTU Q FMFNFOUJOUIFTBNFEPDVNFOU

    5IF MOAA?MNCIHMMIOL=??F?G?HN JTUIFИSTUFMFNFOUJOUIFEPDVNFOUJO USFFPSEFS Q UPIBWFBO*%FRVBMUPUIF


    WBMVFPGUIF MJTU Q BUUSJCVUF JGUIBUFMFNFOUJTB EBUBMJTU Q FMFNFOU*GUIFSFJTOP MJTU Q BUUSJCVUF PSJGUIFSFJT
    OPFMFNFOUXJUIUIBU*% PSJGUIFИSTUFMFNFOUXJUIUIBU*%JTOPUB EBUBMJTU Q FMFNFOU UIFOUIFSFJTOP TVHHFTUJPOT
    TPVSDFFMFNFOU Q 

    
    *GUIFSFJTB TVHHFTUJPOTTPVSDFFMFNFOU Q UIFO XIFOUIFVTFSBHFOUJTBMMPXJOHUIFVTFSUPFEJUUIF JOQVU Q
    FMFNFOUT WBMVF Q UIFVTFSBHFOUTIPVMEPЗFSUIFTVHHFTUJPOTSFQSFTFOUFECZUIF TVHHFTUJPOTTPVSDFFMFNFOU Q UP
    UIFVTFSJOBNBOOFSTVJUBCMFGPSUIFUZQFPGDPOUSPMVTFE5IFVTFSBHFOUNBZVTFUIFTVHHFTUJPOT MBCFM Q UP
    JEFOUJGZUIFTVHHFTUJPOJGBQQSPQSJBUF*GUIFVTFSTFMFDUTBTVHHFTUJPO UIFOUIF JOQVU Q FMFNFOUT WBMVF Q NVTUCF
    TFUUPUIFTFMFDUFETVHHFTUJPOT WBMVF Q BTJGUIFVTFSIBEXSJUUFOUIBUWBMVFIJNTFMG

    6TFSBHFOUTNVTUИMUFSUIFTVHHFTUJPOTUPIJEFTVHHFTUJPOTUIBUUIFVTFSXPVMEOPUCFBMMPXFEUPFOUFSBTUIF
    JOQVU Q FMFNFOUT WBMVF Q BOETIPVMEИMUFSUIFTVHHFTUJPOTUPIJEFTVHHFTUJPOTUIBUXPVMEDBVTFUIFFMFNFOUUP
    OPU TBUJTGZJUTDPOTUSBJOUT Q 

    *GUIF MJTU Q BUUSJCVUFEPFTOPUBQQMZ UIFSFJTOP TVHHFTUJPOTTPVSDFFMFNFOU Q 

    5IJT63-ИFMEPЗFSTTPNFTVHHFTUJPOT

    MBCFM)PNFQBHFJOQVUOBNFIQUZQFVSMMJTUIQVSMTMBCFM
    EBUBMJTUJEIQVSMT
    PQUJPOWBMVFIUUQXXXHPPHMFDPNMBCFM(PPHMF
    PQUJPOWBMVFIUUQXXXSFEEJUDPNMBCFM3FEEJU
    EBUBMJTU

    0UIFS63-TGSPNUIFVTFSTIJTUPSZNJHIUTIPXBMTPUIJTJTVQUPUIFVTFSBHFOU

    5IJTFYBNQMFEFNPOTUSBUFTIPXUPEFTJHOBGPSNUIBUVTFTUIFBVUPDPNQMFUJPOMJTUGFBUVSFXIJMFTUJMMEFHSBEJOH
    VTFGVMMZJOMFHBDZVTFSBHFOUT

    *GUIFBVUPDPNQMFUJPOMJTUJTNFSFMZBOBJE BOEJTOPUJNQPSUBOUUPUIFDPOUFOU UIFOTJNQMZVTJOHB EBUBMJTU Q


    FMFNFOUXJUIDIJMESFO PQUJPO Q FMFNFOUTJTFOPVHI5PQSFWFOUUIFWBMVFTGSPNCFJOHSFOEFSFEJOMFHBDZVTFS
    BHFOUT UIFZTIPVMECFQMBDFEJOTJEFUIF WBMVF Q BUUSJCVUFJOTUFBEPGJOMJOF

    Q
    MBCFM
    &OUFSBCSFFE
    JOQVUUZQFUFYUOBNFCSFFEMJTUCSFFET
    EBUBMJTUJECSFFET
    PQUJPOWBMVF"CZTTJOJBO
    PQUJPOWBMVF"MQBDB
    
    EBUBMJTU
    MBCFM
    Q

    )PXFWFS JGUIFWBMVFTOFFEUPCFTIPXOJOMFHBDZ6"T UIFOGBMMCBDLDPOUFOUDBOCFQMBDFEJOTJEFUIF


    EBUBMJTU Q FMFNFOU BTGPMMPXT

    Q
    MBCFM
    &OUFSBCSFFE
    JOQVUUZQFUFYUOBNFCSFFEMJTUCSFFET
    MBCFM
    EBUBMJTUJECSFFET
    MBCFM
    PSTFMFDUPOFGSPNUIFMJTU
    TFMFDUOBNFCSFFE
    PQUJPOWBMVF OPOFTFMFDUFE

    PQUJPO"CZTTJOJBO
    PQUJPO"MQBDB
    
    TFMFDU
    MBCFM
    EBUBMJTU
    Q

    5IFGBMMCBDLDPOUFOUXJMMPOMZCFTIPXOJO6"TUIBUEPOUTVQQPSU EBUBMJTU Q 5IFPQUJPOT POUIFPUIFSIBOE


    XJMMCFEFUFDUFECZBMM6"T FWFOUIPVHIUIFZBSFOPUEJSFDUDIJMESFOPGUIF EBUBMJTU Q FMFNFOU

    
    /PUFUIBUJGBO PQUJPO Q FMFNFOUVTFEJOB EBUBMJTU Q JT TFMFDUFE Q JUXJMMCFTFMFDUFECZEFGBVMUCZMFHBDZ
    6"T CFDBVTFJUBЗFDUTUIF TFMFDU Q
    CVUJUXJMMOPUIBWFBOZFЗFDUPOUIF JOQVU Q FMFNFOUJO6"TUIBU
    TVQQPSU EBUBMJTU Q 

         0A> K>:=HGER I :MMKB;NM>

    5IF M@<?JIGT BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q UIBUDPOUSPMTXIFUIFSPSOPUUIFVTFDBOFEJUUIFGPSNDPOUSPM 8IFO


    TQFDJИFE UIFFMFNFOUJT 8<<DC01;4 ?  

    IHMNL;CHNP;FC>;NCIH*GUIF SFBEPOMZ Q BUUSJCVUFJTTQFDJИFEPOBO JOQVU Q FMFNFOU UIFFMFNFOUJT CBSSFEGSPN


    DPOTUSBJOUWBMJEBUJPO Q 

    *OUIFGPMMPXJOHFYBNQMF UIFFYJTUJOHQSPEVDUJEFOUJИFSTDBOOPUCFNPEJИFE CVUUIFZBSFTUJMMEJTQMBZFEBTQBSU


    PGUIFGPSN GPSDPOTJTUFODZXJUIUIFSPXSFQSFTFOUJOHBOFXQSPEVDU XIFSFUIFJEFOUJИFSJTOPUZFUИMMFEJO
    

    GPSNBDUJPOQSPEVDUTDHJNFUIPEQPTUFODUZQFNVMUJQBSUGPSNEBUB
    UBCMF
    USUI1SPEVDU*%UI1SPEVDUOBNFUI1SJDFUI"DUJPO
    US
    UEJOQVUSFBEPOMZOBNFQJEWBMVF)
    UEJOQVUSFRVJSFEOBNFQOBNFWBMVF'MPPSMBNQ6MLF
    UEJOQVUSFRVJSFEUZQFOVNCFSNJOTUFQOBNFQQSJDFWBMVF
    UECVUUPOGPSNOPWBMJEBUFOBNFBDUJPOWBMVFEFMFUF%FMFUFCVUUPO
    US
    UEJOQVUSFBEPOMZOBNFQJEWBMVF'(
    UEJOQVUSFRVJSFEOBNFQOBNFWBMVF5BCMFMBNQ6MLF
    UEJOQVUSFRVJSFEUZQFOVNCFSNJOTUFQOBNFQQSJDFWBMVF
    UECVUUPOGPSNOPWBMJEBUFOBNFBDUJPOWBMVFEFMFUF%FMFUFCVUUPO
    US
    UEJOQVUSFRVJSFEOBNFQJEWBMVFQBUUFSO<";> 
    UEJOQVUSFRVJSFEOBNFQOBNFWBMVF
    UEJOQVUSFRVJSFEUZQFOVNCFSNJOTUFQOBNFQQSJDFWBMVF
    UECVUUPOGPSNOPWBMJEBUFOBNFBDUJPOWBMVFEFMFUF%FMFUFCVUUPO
    UBCMF
    QCVUUPOGPSNOPWBMJEBUFOBNFBDUJPOWBMVFBEE"EECVUUPOQ
    QCVUUPOOBNFBDUJPOWBMVFVQEBUF4BWFCVUUPOQ
    GPSN

         0A> LBS> I :MMKB;NM>

    5IF NDU@ BUUSJCVUFHJWFTUIFOVNCFSPGDIBSBDUFSTUIBU JOBWJTVBMSFOEFSJOH UIFVTFSBHFOUJTUPBMMPXUIFVTFSUPTFF


    XIJMFFEJUJOHUIFFMFNFOUT WBMVF Q 

    5IF TJ[F Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEOPOOFHBUJWFJOUFHFS Q HSFBUFSUIBO[FSP

    *GUIFBUUSJCVUFJTQSFTFOU UIFOJUTWBMVFNVTUCFQBSTFEVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q BOEJGUIF


    SFTVMUJTBOVNCFSHSFBUFSUIBO[FSP UIFOUIFVTFSBHFOUTIPVMEFOTVSFUIBUBUMFBTUUIBUNBOZDIBSBDUFSTBSFWJTJCMF

    5IF TJ[F Q *%-BUUSJCVUFJT MJNJUFEUPPOMZOPOOFHBUJWFOVNCFSTHSFBUFSUIBO[FSP Q 

         0A> K>JNBK>= I :MMKB;NM>

    5IF M@LPDM@? BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q 8IFOTQFDJИFE UIFFMFNFOUJT K>JNBK>=

    IHMNL;CHNP;FC>;NCIH*GUIFFMFNFOUJT A4@D8A43 ? BOEJUT WBMVF Q *%-BUUSJCVUFBQQMJFTBOEJTJOUIFNPEF


    WBMVF Q BOEUIFFMFNFOUJT <DC01;4 ?  BOEUIFFMFNFOUT WBMVF Q JTUIFFNQUZTUSJOH UIFOUIFFMFNFOUJT
    TVЗFSJOHGSPNCFJOHNJTTJOH Q 

    5IFGPMMPXJOHGPSNIBTUXPSFRVJSFEИFMET POFGPSBOFNBJMBEESFTTBOEPOFGPSBQBTTXPSE*UBMTPIBTBUIJSE
    ИFMEUIBUJTPOMZDPOTJEFSEWBMJEJGUIFVTFSUZQFTUIFTBNFQBTTXPSEJOUIFQBTTXPSEИFMEBOEUIJTUIJSEИFME

    I$SFBUFOFXBDDPVOUI
    GPSNBDUJPOOFXBDDPVOUNFUIPEQPTU
    Q
    MBCFMGPSVTFSOBNF&NBJMBEESFTTMBCFM
    JOQVUJEVTFSOBNFUZQFFNBJMSFRVJSFEOBNFVO

    
    Q
    MBCFMGPSQBTTXPSE1BTTXPSEMBCFM
    JOQVUJEQBTTXPSEUZQFQBTTXPSESFRVJSFEOBNFVQ
    Q
    MBCFMGPSQBTTXPSE$POGJSNQBTTXPSEMBCFM
    JOQVUJEQBTTXPSEUZQFQBTTXPSEPOGPSNJOQVUTFU$VTUPN7BMJEJUZ WBMVF
    QBTTXPSEWBMVF 1BTTXPSETEPOPUNBUDI
    
    Q
    JOQVUUZQFTVCNJUWBMVF$SFBUFBDDPVOU
    GPSN

         0A> FNEMBIE> I :MMKB;NM>

    5IF HPGODKG@ BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q UIBUJOEJDBUFTXIFUIFSUIFVTFSJTUPCFBMMPXFEUPTQFDJGZNPSFUIBO


    POFWBMVF

    5IFGPMMPXJOHFYUSBDUTIPXTIPXBOFNBJMDMJFOUT$DИFMEDPVMEBDDFQUNVMUJQMFFNBJMBEESFTTFT

    MBCFM$DJOQVUUZQFFNBJMNVMUJQMFOBNFDDMBCFM

    *GUIFVTFSIBE BNPOHTUNBOZGSJFOETJOIJTVTFSDPOUBDUTEBUBCBTF UXPGSJFOET"SUIVS%FOU XJUIBEESFTT


    BSU!FYBNQMFOFU
    BOE"EBN+PTI XJUIBEESFTTBEBNKPTI!FYBNQMFOFU
    UIFO BGUFSUIFVTFSIBTUZQFE
    B UIFVTFSBHFOUNJHIUTVHHFTUUIFTFUXPFNBJMBEESFTTFTUPUIFVTFS

    5IFQBHFDPVMEBMTPMJOLJOUIFVTFSTDPOUBDUTEBUBCBTFGSPNUIFTJUF

    MBCFM$DJOQVUUZQFFNBJMNVMUJQMFOBNFDDMJTUDPOUBDUTMBCFM
    
    EBUBMJTUJEDPOUBDUT
    PQUJPOWBMVFIFESBM!EBNPXNPXDPN
    PQUJPOWBMVFQJMMBS!FYBNQMFDPN
    PQUJPOWBMVFBTUSPQIZ!DVUFFYBNQMF
    PQUJPOWBMVFBTUSPOPNZ!TDJFODFFYBNQMFPSH
    EBUBMJTU

    4VQQPTFUIFVTFSIBEFOUFSFECPC!FYBNQMFOFUJOUPUIJTUFYUИFME BOEUIFOTUBSUFEUZQJOHBTFDPOEFNBJM
    BEESFTTTUBSUJOHXJUIB5IFVTFSBHFOUNJHIUTIPXCPUIUIFUXPGSJFOETNFOUJPOFEFBSMJFS BTXFMMBTUIF
    BTUSPQIZBOEBTUSPOPNZWBMVFTHJWFOJOUIF EBUBMJTU Q FMFNFOU

    
    5IFGPMMPXJOHFYUSBDUTIPXTIPXBOFNBJMDMJFOUT"UUBDINFOUTИFMEDPVMEBDDFQUNVMUJQMFИMFTGPSVQMPBE

    MBCFM"UUBDINFOUTJOQVUUZQFGJMFNVMUJQMFOBNFBUUMBCFM

         0A> F:QE>G@MA I :MMKB;NM>

    5IF H<SG@IBOC BUUSJCVUF XIFOJUBQQMJFT JTB GPSNDPOUSPM NBYMFOHUI BUUSJCVUF Q DPOUSPMMFECZUIF JOQVU Q
    FMFNFOUT EJSUZWBMVFЙBH Q 

    *GUIF JOQVU Q FMFNFOUIBTB NBYJNVNBMMPXFEWBMVFMFOHUI Q UIFOUIF DPEFQPJOUMFOHUI Q PGUIFWBMVFPGUIF
    FMFNFOUT WBMVF Q BUUSJCVUFNVTUCFFRVBMUPPSMFTTUIBOUIFFMFNFOUT NBYJNVNBMMPXFEWBMVFMFOHUI Q 

    5IFGPMMPXJOHFYUSBDUTIPXTIPXBNFTTBHJOHDMJFOUTUFYUFOUSZDPVMECFBSCJUSBSJMZSFTUSJDUFEUPBИYFEOVNCFS
    PGDIBSBDUFST UIVTGPSDJOHBOZDPOWFSTJPOUISPVHIUIJTNFEJVNUPCFUFSTFBOEEJTDPVSBHJOHJOUFMMJHFOU
    EJTDPVSTF

    8IBUBSFZPVEPJOH JOQVUOBNFTUBUVTNBYMFOHUI

         0A> I:MM>KG I :MMKB;NM>

    5IF K<OO@MI BUUSJCVUFTQFDJИFTBSFHVMBSFYQSFTTJPOBHBJOTUXIJDIUIFDPOUSPMT WBMVF Q JTUPCFDIFDLFE

    *GTQFDJИFE UIFBUUSJCVUFTWBMVFNVTUNBUDIUIF+BWB4DSJQU &0CC4A= QSPEVDUJPO <&$."> Q

    IHMNL;CHNP;FC>;NCIH*GUIFFMFNFOUT WBMVF Q JTOPUUIFFNQUZTUSJOH BOEUIFFMFNFOUT QBUUFSO Q BUUSJCVUFJT


    TQFDJИFEBOEUIFBUUSJCVUFTWBMVF XIFODPNQJMFEBTB+BWB4DSJQUSFHVMBSFYQSFTTJPOXJUIUIF HMPCBM JHOPSF$BTF
    BOE NVMUJMJOF ЙBHT 38B01;43 TFF&$."&EJUJPO TFDUJPOTUISPVHI
    DPNQJMFTTVDDFTTGVMMZ
    CVUUIFSFTVMUJOHSFHVMBSFYQSFTTJPOEPFTOPUNBUDIUIFFOUJSFUZPGUIFFMFNFOUT WBMVF Q UIFOUIFFMFNFOUJT
    TVЗFSJOHGSPNBQBUUFSONJTNBUDI Q  <&$."> Q

    *HM> 0ABLBFIEB>LMA:MMA>K>@NE:K>QIK>LLBHGE:G@N:@>NL>=?HKMABL:MMKB;NM>BLMA>L:F>:LMA:M
    NL>=BG&:O:/<KBIM >Q<>IMMA:MMA> I:MM>KG I :MMKB;NM>FNLMF:M<AMA>>GMBK>O:EN> GHMCNLM:GR
    LN;L>MLHF>PA:M:LB?BMBFIEB>=: 8 :MMA>LM:KMH?MA>I:MM>KG:G=:  :MMA>>G=

    8IFOBO JOQVU Q FMFNFOUIBTB QBUUFSO Q BUUSJCVUFTQFDJИFE BVUIPSTTIPVMEJODMVEFB UJUMF Q BUUSJCVUFUPHJWFB
    EFTDSJQUJPOPGUIFQBUUFSO6TFSBHFOUTNBZVTFUIFDPOUFOUTPGUIJTBUUSJCVUF JGJUJTQSFTFOU XIFOJOGPSNJOHUIFVTFS
    UIBUUIFQBUUFSOJTOPUNBUDIFE PSBUBOZPUIFSTVJUBCMFUJNF TVDIBTJOBUPPMUJQPSSFBEPVUCZBTTJTUJWFUFDIOPMPHZ
    XIFOUIFDPOUSPMHBJOTGPDVT

    'PSFYBNQMF UIFGPMMPXJOHTOJQQFU

    MBCFM1BSUOVNCFS
    JOQVUQBUUFSO<><";>\^OBNFQBSU
    UJUMF"QBSUOVNCFSJTBEJHJUGPMMPXFECZUISFFVQQFSDBTFMFUUFST
    MBCFM

    DPVMEDBVTFUIF6"UPEJTQMBZBOBMFSUTVDIBT

    "QBSUOVNCFSJTBEJHJUGPMMPXFECZUISFFVQQFSDBTFMFUUFST
    :PVDBOOPUDPNQMFUFUIJTGPSNVOUJMUIFGJFMEJTDPSSFDU

    8IFOBDPOUSPMIBTB QBUUFSO Q BUUSJCVUF UIF UJUMF Q BUUSJCVUF JGVTFE NVTUEFTDSJCFUIFQBUUFSO"EEJUJPOBM
    JOGPSNBUJPODPVMEBMTPCFJODMVEFE TPMPOHBTJUBTTJTUTUIFVTFSJOИMMJOHJOUIFDPOUSPM0UIFSXJTF BTTJTUJWFUFDIOPMPHZ
    XPVMECFJNQBJSFE

    'PSJOTUBODF JGUIFUJUMFBUUSJCVUFDPOUBJOFEUIFDBQUJPOPGUIFDPOUSPM BTTJTUJWFUFDIOPMPHZDPVMEFOEVQTBZJOH


    TPNFUIJOHMJLF 5IFUFYUZPVIBWFFOUFSFEEPFTOPUNBUDIUIFSFRVJSFEQBUUFSO#JSUIEBZ XIJDIJT
    OPUVTFGVM

    6"TNBZTUJMMTIPXUIF UJUMF Q JOOPOFSSPSTJUVBUJPOT GPSFYBNQMF BTBUPPMUJQXIFOIPWFSJOHPWFSUIFDPOUSPM


    TP
    BVUIPSTTIPVMECFDBSFGVMOPUUPXPSE UJUMF Q TBTJGBOFSSPSIBTOFDFTTBSJMZPDDVSSFE

         0A> FBG I :G= F:Q I :MMKB;NM>L

    5IF HDI BOE H<S BUUSJCVUFTJOEJDBUFUIFBMMPXFESBOHFPGWBMVFTGPSUIFFMFNFOU

    5IFJSTZOUBYJTEFИOFECZUIFTFDUJPOUIBUEFИOFTUIF UZQF Q BUUSJCVUFTDVSSFOUTUBUF

    
    *GUIFFMFNFOUIBTB NJO Q BUUSJCVUF BOEUIFSFTVMUPGBQQMZJOHUIF BMHPSJUINUPDPOWFSUBTUSJOHUPBOVNCFS Q UP
    UIFWBMVFPGUIF NJO Q BUUSJCVUFJTBOVNCFS UIFOUIBUOVNCFSJTUIFFMFNFOUT GCHCGOGPUIFSXJTF JGUIF UZQF Q
    BUUSJCVUFTDVSSFOUTUBUFEFИOFTB >?@;OFNGCHCGOG UIFOUIBUJTUIF NJOJNVN Q PUIFSXJTF UIFFMFNFOUIBTOP
    NJOJNVN Q 

    IHMNL;CHNP;FC>;NCIH8IFOUIFFMFNFOUIBTB NJOJNVN Q BOEUIFSFTVMUPGBQQMZJOHUIF BMHPSJUINUPDPOWFSUB


    TUSJOHUPBOVNCFS Q UPUIFTUSJOHHJWFOCZUIFFMFNFOUT WBMVF Q JTBOVNCFS BOEUIFOVNCFSPCUBJOFEGSPNUIBU
    BMHPSJUINJTMFTTUIBOUIF NJOJNVN Q UIFFMFNFOUJT TVЗFSJOHGSPNBOVOEFSЙPX Q 

    5IF NJO Q BUUSJCVUFBMTPEFИOFTUIF TUFQCBTF Q 

    *GUIFFMFNFOUIBTB NBY Q BUUSJCVUF BOEUIFSFTVMUPGBQQMZJOHUIF BMHPSJUINUPDPOWFSUBTUSJOHUPBOVNCFS Q UP


    UIFWBMVFPGUIF NBY Q BUUSJCVUFJTBOVNCFS UIFOUIBUOVNCFSJTUIFFMFNFOUT G;RCGOGPUIFSXJTF JGUIF UZQF Q
    BUUSJCVUFTDVSSFOUTUBUFEFИOFTB >?@;OFNG;RCGOG UIFOUIBUJTUIF NBYJNVN Q PUIFSXJTF UIFFMFNFOUIBTOP
    NBYJNVN Q 

    IHMNL;CHNP;FC>;NCIH8IFOUIFFMFNFOUIBTB NBYJNVN Q BOEUIFSFTVMUPGBQQMZJOHUIF BMHPSJUINUPDPOWFSUB


    TUSJOHUPBOVNCFS Q UPUIFTUSJOHHJWFOCZUIFFMFNFOUT WBMVF Q JTBOVNCFS BOEUIFOVNCFSPCUBJOFEGSPNUIBU
    BMHPSJUINJTNPSFUIBOUIF NBYJNVN Q UIFFMFNFOUJT TVЗFSJOHGSPNBOPWFSЙPX Q 

    5IF NBY Q BUUSJCVUFTWBMVF UIF NBYJNVN Q


    NVTUOPUCFMFTTUIBOUIF NJO Q BUUSJCVUFTWBMVF JUT NJOJNVN Q
    

    *HM> %?:G>E>F>GMA:L: F:QBFNF I MA:MBLE>LLMA:GBML FBGBFNF I MA>GLHEHG@:LMA>


    >E>F>GMA:L: O:EN> I BMPBEE>BMA>K;> LNZ>KBG@?KHF:GNG=>K\HP I HK LNZ>KBG@?KHF:G
    HO>K\HP I

    5IFGPMMPXJOHEBUFDPOUSPMMJNJUTJOQVUUPEBUFTUIBUBSFCFGPSFUIFT

    JOQVUOBNFCEBZUZQFEBUFNBY

    5IFGPMMPXJOHOVNCFSDPOUSPMMJNJUTJOQVUUPXIPMFOVNCFSTHSFBUFSUIBO[FSP

    JOQVUOBNFRVBOUJUZSFRVJSFEUZQFOVNCFSNJOWBMVF

         0A> LM>I I :MMKB;NM>

    5IF NO@K BUUSJCVUFJOEJDBUFTUIFHSBOVMBSJUZUIBUJTFYQFDUFE BOESFRVJSFE


    PGUIF WBMVF Q CZMJNJUJOHUIFBMMPXFE
    WBMVFT 5IFTFDUJPOUIBUEFИOFTUIF UZQF Q BUUSJCVUFTDVSSFOUTUBUFBMTPEFИOFTUIF >?@;OFNMN?J UIF MN?JM=;F?
    @;=NIL BOEJOTPNFDBTFTUIF >?@;OFNMN?J<;M? XIJDIBSFVTFEJOQSPDFTTJOHUIFBUUSJCVUFBTEFTDSJCFECFMPX

    5IF TUFQ Q BUUSJCVUF JGTQFDJИFE NVTUFJUIFSIBWFBWBMVFUIBUJTB WBMJEЙPBUJOHQPJOUOVNCFS Q UIBU QBSTFT Q UPB
    OVNCFSUIBUJTHSFBUFSUIBO[FSP PSNVTUIBWFBWBMVFUIBUJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHBOZ

    5IFBUUSJCVUFQSPWJEFTUIF ;FFIQ?>P;FO?MN?J GPSUIFFMFNFOU BTGPMMPXT

     *GUIFBUUSJCVUFJTBCTFOU UIFOUIF BMMPXFEWBMVFTUFQ Q JTUIF EFGBVMUTUFQ Q NVMUJQMJFECZUIF TUFQTDBMF


    GBDUPS Q 

     0UIFSXJTF JGUIFBUUSJCVUFTWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHBOZ UIFOUIFSFJTOP


    BMMPXFEWBMVFTUFQ Q 

     0UIFSXJTF JGUIF SVMFTGPSQBSTJOHЙPBUJOHQPJOUOVNCFSWBMVFT Q XIFOUIFZBSFBQQMJFEUPUIFBUUSJCVUFT


    WBMVF SFUVSOBOFSSPS [FSP PSBOVNCFSMFTTUIBO[FSP UIFOUIF BMMPXFEWBMVFTUFQ Q JTUIF EFGBVMU
    TUFQ Q NVMUJQMJFECZUIF TUFQTDBMFGBDUPS Q 

     0UIFSXJTF UIF BMMPXFEWBMVFTUFQ Q JTUIFOVNCFSSFUVSOFECZUIF SVMFTGPSQBSTJOHЙPBUJOHQPJOUOVNCFS


    WBMVFT Q XIFOUIFZBSFBQQMJFEUPUIFBUUSJCVUFTWBMVF NVMUJQMJFECZUIF TUFQTDBMFGBDUPS Q 

    5IF MN?J<;M? JTUIFSFTVMUPGBQQMZJOHUIF BMHPSJUINUPDPOWFSUBTUSJOHUPBOVNCFS Q UPUIFWBMVFPGUIF NJO Q


    BUUSJCVUF VOMFTTUIFFMFNFOUEPFTOPUIBWFB NJO Q BUUSJCVUFTQFDJИFEPSUIFSFTVMUPGBQQMZJOHUIBUBMHPSJUINJTBO
    FSSPS JOXIJDIDBTFUIF TUFQCBTF Q JTUIF EFGBVMUTUFQCBTF Q JGPOFJTEFИOFE PS[FSP JGOPU

    IHMNL;CHNP;FC>;NCIH8IFOUIFFMFNFOUIBTBO BMMPXFEWBMVFTUFQ Q BOEUIFSFTVMUPGBQQMZJOHUIF BMHPSJUINUP


    DPOWFSUBTUSJOHUPBOVNCFS Q UPUIFTUSJOHHJWFOCZUIFFMFNFOUT WBMVF Q JTBOVNCFS BOEUIBUOVNCFS
    TVCUSBDUFEGSPNUIF TUFQCBTF Q JTOPUBOJOUFHSBMNVMUJQMFPGUIF BMMPXFEWBMVFTUFQ Q UIFFMFNFOUJT TVЗFSJOH
    GSPNBTUFQNJTNBUDI Q 

    
    5IFGPMMPXJOHSBOHFDPOUSPMPOMZBDDFQUTWBMVFTJOUIFSBOHF BOEBMMPXTTUFQTJOUIBUSBOHF

    JOQVUOBNFPQBDJUZUZQFSBOHFNJONBYTUFQ

    5IFGPMMPXJOHDPOUSPMBMMPXTBOZUJNFJOUIFEBZUPCFTFMFDUFE XJUIBOZBDDVSBDZ FHUIPVTBOEUIPGBTFDPOE


    BDDVSBDZPSNPSF
    

    JOQVUOBNFGBWUJNFUZQFUJNFTUFQBOZ

    /PSNBMMZ UJNFDPOUSPMTBSFMJNJUFEUPBOBDDVSBDZPGPOFNJOVUF

         0A> IE:<>AHE=>K I :MMKB;NM>

    5IF KG<>@CJG?@M BUUSJCVUFSFQSFTFOUTB B7>AC IJOU BXPSEPSTIPSUQISBTF


    JOUFOEFEUPBJEUIFVTFSXJUIEBUBFOUSZ"
    IJOUDPVMECFBTBNQMFWBMVFPSBCSJFGEFTDSJQUJPOPGUIFFYQFDUFEGPSNBU5IFBUUSJCVUF JGTQFDJИFE NVTUIBWFB
    WBMVFUIBUDPOUBJOTOP6 "-*/&'&&% -'
    PS6 %$"33*"(&3&563/ $3
    DIBSBDUFST

    *HM> "HK:EHG@>KABGMHKHMA>K:=OBLHKRM>QM MA> MBME> I :MMKB;NM>BLFHK>:IIKHIKB:M>

    5IF QMBDFIPMEFS Q BUUSJCVUFTIPVMEOPUCFVTFEBTBOBMUFSOBUJWFUPB MBCFM Q 

    6TFSBHFOUTTIPVMEQSFTFOUUIJTIJOUUPUIFVTFS BGUFSIBWJOH TUSJQQFEMJOFCSFBLT Q GSPNJU XIFOUIFFMFNFOUT


    WBMVF Q JTUIFFNQUZTUSJOHBOEUIFDPOUSPMJTOPUGPDVTFE FHCZEJTQMBZJOHJUJOTJEFBCMBOLVOGPDVTFEDPOUSPM
    

    )FSFJTBOFYBNQMFPGBNBJMDPOИHVSBUJPOVTFSJOUFSGBDFUIBUVTFTUIF QMBDFIPMEFS Q BUUSJCVUF

    GJFMETFU
    MFHFOE.BJM"DDPVOUMFHFOE
    QMBCFM/BNFJOQVUUZQFUFYUOBNFGVMMOBNFQMBDFIPMEFS+PIO
    3BU[FOCFSHFSMBCFMQ
    QMBCFM"EESFTTJOQVUUZQFFNBJMOBNFBEESFTT
    QMBDFIPMEFSKPIO!FYBNQMFOFUMBCFMQ
    QMBCFM1BTTXPSEJOQVUUZQFQBTTXPSEOBNFQBTTXPSEMBCFMQ
    QMBCFM%FTDSJQUJPOJOQVUUZQFUFYUOBNFEFTDQMBDFIPMEFS.Z&NBJM
    "DDPVOUMBCFMQ
    GJFMETFU

        IGGIH DIKPO K ?F?G?HN,%M

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    BGINM Q<GP@ K 7 O:EN> 8
    3FUVSOTUIFDVSSFOU WBMVF Q PGUIFGPSNDPOUSPM
    $BOCFTFU UPDIBOHFUIFWBMVF
    5ISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGJUJTTFUUPBOZWBMVFPUIFSUIBOUIFFNQUZTUSJOHXIFOUIF
    DPOUSPMJTBИMFVQMPBEDPOUSPM

    BGINM >C@>F@? K 7 O:EN> 8


    3FUVSOTUIFDVSSFOU DIFDLFEOFTT Q PGUIFGPSNDPOUSPM
    $BOCFTFU UPDIBOHFUIF DIFDLFEOFTT Q 

    BGINM ADG@N K


    3FUVSOTB 'JMF-JTU PCKFDUMJTUJOHUIF TFMFDUFEИMFT Q PGUIFGPSNDPOUSPM
    5ISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIFDPOUSPMJTOUBИMFDPOUSPM

    BGINM Q<GP@N"<O@ K 7 O:EN> 8


    3FUVSOTB %BUF PCKFDUSFQSFTFOUJOHUIFGPSNDPOUSPMT WBMVF Q JGBQQMJDBCMFPUIFSXJTF SFUVSOTOVMM
    $BOCFTFU UPDIBOHFUIFWBMVF
    5ISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIFDPOUSPMJTOUEBUFPSUJNFCBTFE

    
    BGINM Q<GP@N,PH=@M K 7 O:EN> 8
    3FUVSOTBOVNCFSSFQSFTFOUJOHUIFGPSNDPOUSPMT WBMVF Q JGBQQMJDBCMFPUIFSXJTF SFUVSOTOVMM
    $BOCFTFU UPDIBOHFUIFWBMVF
    5ISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIFDPOUSPMJTOFJUIFSEBUFPSUJNFCBTFEOPSOVNFSJD

    BGINM NO@K3K K 7 G 8


    BGINM NO@K"JRI K 7 G 8
    $IBOHFTUIFGPSNDPOUSPMT WBMVF Q CZUIFWBMVFHJWFOJOUIF TUFQ Q BUUSJCVUF NVMUJQMJFECZ =5IF
    EFGBVMUJT
    5ISPXT */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIFDPOUSPMJTOFJUIFSEBUFPSUJNFCBTFEOPSOVNFSJD JGUIF
    TUFQ Q BUUSJCVUFTWBMVFJTBOZ JGUIFDVSSFOU WBMVF Q DPVMEOPUCFQBSTFE PSJGTUFQQJOHJOUIFHJWFO
    EJSFDUJPOCZUIFHJWFOBNPVOUXPVMEUBLFUIFWBMVFPVUPGSBOHF

    BGINM GDNO K


    3FUVSOTUIF EBUBMJTU Q FMFNFOUJOEJDBUFECZUIF MJTU Q BUUSJCVUF

    BGINM N@G@>O@?-KODJI K


    3FUVSOTUIF PQUJPO Q FMFNFOUGSPNUIF EBUBMJTU Q FMFNFOUJOEJDBUFECZUIF MJTU Q BUUSJCVUFUIBU
    NBUDIFTUIFGPSNDPOUSPMT WBMVF Q 

    5IF Q<GP@ *%-BUUSJCVUFBMMPXTTDSJQUTUPNBOJQVMBUFUIF WBMVF Q PGBO JOQVU Q FMFNFOU5IFBUUSJCVUFJTJOPOFPG


    UIFGPMMPXJOHNPEFT XIJDIEFИOFJUTCFIBWJPS

    O:EN>
    0OHFUUJOH JUNVTUSFUVSOUIFDVSSFOU WBMVF Q PGUIFFMFNFOU0OTFUUJOH JUNVTUTFUUIFFMFNFOUT WBMVF Q UP
    UIFOFXWBMVF TFUUIFFMFNFOUT EJSUZWBMVFЙBH Q UPUSVF BOEUIFOJOWPLFUIF WBMVFTBOJUJ[BUJPOBMHPSJUIN Q
    JGUIFFMFNFOUT UZQF Q BUUSJCVUFTDVSSFOUTUBUFEFИOFTPOF

    =>?:NEM
    0OHFUUJOH JGUIFFMFNFOUIBTB WBMVF Q BUUSJCVUF JUNVTUSFUVSOUIBUBUUSJCVUFTWBMVFPUIFSXJTF JUNVTUSFUVSO
    UIFFNQUZTUSJOH0OTFUUJOH JUNVTUTFUUIFFMFNFOUT WBMVF Q BUUSJCVUFUPUIFOFXWBMVF

    =>?:NEM HG
    0OHFUUJOH JGUIFFMFNFOUIBTB WBMVF Q BUUSJCVUF JUNVTUSFUVSOUIBUBUUSJCVUFTWBMVFPUIFSXJTF JUNVTUSFUVSO
    UIFTUSJOHPO0OTFUUJOH JUNVTUTFUUIFFMFNFOUT WBMVF Q BUUSJCVUFUPUIFOFXWBMVF

    [E>G:F>
    0OHFUUJOH JUNVTUSFUVSOUIFTUSJOH$=GBLFQBUI=GPMMPXFECZUIFИMFOBNFPGUIFИSTUИMFJOUIFMJTUPG
    TFMFDUFEИMFT Q JGBOZ PSUIFFNQUZTUSJOHJGUIFMJTUJTFNQUZ0OTFUUJOH JGUIFOFXWBMVFJTUIFFNQUZTUSJOH JU
    NVTUFNQUZUIFMJTUPG TFMFDUFEИMFT Q PUIFSXJTF JUNVTUUISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPO

    5IF >C@>F@? *%-BUUSJCVUFBMMPXTTDSJQUTUPNBOJQVMBUFUIF DIFDLFEOFTT Q PGBO JOQVU Q FMFNFOU0OHFUUJOH JU
    NVTUSFUVSOUIFDVSSFOU DIFDLFEOFTT Q PGUIFFMFNFOUBOEPOTFUUJOH JUNVTUTFUUIFFMFNFOUT DIFDLFEOFTT Q UP
    UIFOFXWBMVFBOETFUUIFFMFNFOUT EJSUZDIFDLFEOFTTЙBH Q UPUSVF

    5IF ADG@N *%-BUUSJCVUFBMMPXTTDSJQUTUPBDDFTTUIFFMFNFOUT TFMFDUFEИMFT Q 0OHFUUJOH JGUIF*%-BUUSJCVUFBQQMJFT


    JUNVTUSFUVSOB 'JMF-JTU PCKFDUUIBUSFQSFTFOUTUIFDVSSFOU TFMFDUFEИMFT Q 5IFTBNFPCKFDUNVTUCFSFUVSOFEVOUJM
    UIFMJTUPG TFMFDUFEИMFT Q DIBOHFT*GUIF*%-BUUSJCVUFEPFTOPUBQQMZ UIFOJUNVTUJOTUFBEUISPXBO
    */7"-*%@45"5&@&33 Q FYDFQUJPO <'*-&"1*> Q

    5IF Q<GP@N"<O@ *%-BUUSJCVUFSFQSFTFOUTUIF WBMVF Q PGUIFFMFNFOU JOUFSQSFUFEBTBEBUF

    0OHFUUJOH JGUIF WBMVF"T%BUF Q BUUSJCVUFEPFTOPUBQQMZ BTEFИOFEGPSUIF JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFT
    DVSSFOUTUBUF UIFOSFUVSOOVMM0UIFSXJTF SVOUIF BMHPSJUINUPDPOWFSUBTUSJOHUPB %BUF PCKFDU Q EFИOFEGPSUIBU
    TUBUFJGUIFBMHPSJUINSFUVSOFEB %BUF PCKFDU UIFOSFUVSOJU PUIFSXJTF SFUVSOOVMM

    0OTFUUJOH JGUIF WBMVF"T%BUF Q BUUSJCVUFEPFTOPUBQQMZ BTEFИOFEGPSUIF JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFT
    DVSSFOUTUBUF UIFOUISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPOPUIFSXJTF JGUIFOFXWBMVFJTOVMM UIFOTFUUIF

    
    WBMVF Q PGUIFFMFNFOUUPUIFFNQUZTUSJOHPUIFSXJTF SVOUIF BMHPSJUINUPDPOWFSUB %BUF PCKFDUUPBTUSJOH Q BT
    EFИOFEGPSUIBUTUBUF POUIFOFXWBMVF BOETFUUIF WBMVF Q PGUIFFMFNFOUUPSFTVMUJOHTUSJOH

    5IF Q<GP@N,PH=@M *%-BUUSJCVUFSFQSFTFOUTUIF WBMVF Q PGUIFFMFNFOU JOUFSQSFUFEBTBOVNCFS

    0OHFUUJOH JGUIF WBMVF"T/VNCFS Q BUUSJCVUFEPFTOPUBQQMZ BTEFИOFEGPSUIF JOQVU Q FMFNFOUT UZQF Q
    BUUSJCVUFTDVSSFOUTUBUF UIFOSFUVSOB/PUB/VNCFS /B/
    WBMVF0UIFSXJTF JGUIF WBMVF"T, Q BUUSJCVUFBQQMJFT
    SVOUIF BMHPSJUINUPDPOWFSUBTUSJOHUPB %BUF PCKFDU Q EFИOFEGPSUIBUTUBUFJGUIFBMHPSJUINSFUVSOFEB %BUF PCKFDU
    UIFOSFUVSOUIF C8<4E0;D4 PGUIFPCKFDU UIFOVNCFSPGNJMMJTFDPOETGSPNNJEOJHIU65$UIFNPSOJOHPGUP
    UIFUJNFSFQSFTFOUFECZUIF %BUF PCKFDU
    PUIFSXJTF SFUVSOB/PUB/VNCFS /B/
    WBMVF0UIFSXJTF SVOUIF BMHPSJUIN
    UPDPOWFSUBTUSJOHUPBOVNCFS Q EFИOFEGPSUIBUTUBUFJGUIFBMHPSJUINSFUVSOFEBOVNCFS UIFOSFUVSOJU PUIFSXJTF
    SFUVSOB/PUB/VNCFS /B/
    WBMVF

    0OTFUUJOH JGUIF WBMVF"T/VNCFS Q BUUSJCVUFEPFTOPUBQQMZ BTEFИOFEGPSUIF JOQVU Q FMFNFOUT UZQF Q
    BUUSJCVUFTDVSSFOUTUBUF UIFOUISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPO0UIFSXJTF JGUIF WBMVF"T, Q BUUSJCVUF
    BQQMJFT SVOUIF BMHPSJUINUPDPOWFSUB %BUF PCKFDUUPBTUSJOH Q EFИOFEGPSUIBUTUBUF QBTTJOHJUB %BUF PCKFDUXIPTF
    C8<4E0;D4 JTUIFOFXWBMVF BOETFUUIF WBMVF Q PGUIFFMFNFOUUPSFTVMUJOHTUSJOH0UIFSXJTF SVOUIF BMHPSJUINUP
    DPOWFSUBOVNCFSUPBTUSJOH Q BTEFИOFEGPSUIBUTUBUF POUIFOFXWBMVF BOETFUUIF WBMVF Q PGUIFFMFNFOUUP
    SFTVMUJOHTUSJOH

    5IF NO@K"JRIG BOE NO@K3KG NFUIPET XIFOJOWPLFE NVTUSVOUIFGPMMPXJOHBMHPSJUIN

     *GUIF TUFQ%PXO
    Q BOE TUFQ6Q
    Q NFUIPETEPOPUBQQMZ BTEFИOFEGPSUIF JOQVU Q FMFNFOUT UZQF Q
    BUUSJCVUFTDVSSFOUTUBUF UIFOUISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPO BOEBCPSUUIFTFTUFQT

     *GUIFFMFNFOUIBTOP BMMPXFEWBMVFTUFQ Q UIFOUISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPO BOEBCPSU


    UIFTFTUFQT

     *GBQQMZJOHUIF BMHPSJUINUPDPOWFSUBTUSJOHUPBOVNCFS Q UPUIFTUSJOHHJWFOCZUIFFMFNFOUT WBMVF Q


    SFTVMUTJOBOFSSPS UIFOUISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPO BOEBCPSUUIFTFTUFQTPUIFSXJTF MFU
    E0;D4 CFUIFSFTVMUPGUIBUBMHPSJUIN

     -FU = CFUIFBSHVNFOU PSJGUIFBSHVNFOUXBTPNJUUFE

     -FU 34;C0 CFUIF BMMPXFEWBMVFTUFQ Q NVMUJQMJFECZ =

     *GUIFNFUIPEJOWPLFEXBTUIF TUFQ%PXO
    Q NFUIPE OFHBUF 34;C0

     -FU E0;D4 CFUIFSFTVMUPGBEEJOH 34;C0 UP E0;D4

     *GUIFFMFNFOUIBTB NJOJNVN Q BOEUIF E0;D4 JTMFTTUIBOUIBU NJOJNVN Q UIFOUISPXB


    */7"-*%@45"5&@&33 Q FYDFQUJPO

     *GUIFFMFNFOUIBTB NBYJNVN Q BOEUIF E0;D4 JTHSFBUFSUIBOUIBU NBYJNVN Q UIFOUISPXB


    */7"-*%@45"5&@&33 Q FYDFQUJPO

     -FU E0;D40BBCA8=6 CFUIFSFTVMUPGSVOOJOHUIF BMHPSJUINUPDPOWFSUBOVNCFSUPBTUSJOH Q BTEFИOFEGPS


    UIF JOQVU Q FMFNFOUT UZQF Q BUUSJCVUFTDVSSFOUTUBUF PO E0;D4

     4FUUIF WBMVF Q PGUIFFMFNFOUUP E0;D40BBCA8=6

    5IF GDNO *%-BUUSJCVUFNVTUSFUVSOUIFDVSSFOU TVHHFTUJPOTTPVSDFFMFNFOU Q JGBOZ PSOVMMPUIFSXJTF

    5IF N@G@>O@?-KODJI *%-BUUSJCVUFNVTUSFUVSOUIFИSTU PQUJPO Q FMFNFOU JO USFFPSEFS Q UPCFBDIJMEPGUIF
    TVHHFTUJPOTTPVSDFFMFNFOU Q BOEXIPTF WBMVF Q NBUDIFTUIF JOQVU Q FMFNFOUT WBMVF Q JGBOZ*GUIFSFJTOP
    TVHHFTUJPOTTPVSDFFMFNFOU Q PSJGJUDPOUBJOTOPNBUDIJOH PQUJPO Q FMFNFOU UIFOUIF TFMFDUFE0QUJPO Q
    BUUSJCVUFNVTUSFUVSOOVMM

        IGGIH?P?HN<?B;PCILM

    8IFOUIF DIKPO FWFOUBQQMJFT BOZUJNFUIFVTFSDBVTFTUIFFMFNFOUT WBMVF Q UPDIBOHF UIFVTFSBHFOUNVTU


    RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q UIBUCVCCMFTOBNFE JOQVU BUUIF JOQVU Q FMFNFOU UIFO CSPBEDBTU
    GPSNJOQVU FWFOUT Q BUUIF JOQVU Q FMFNFOUT GPSNPXOFS Q 6TFSBHFOUTNBZXBJUGPSBTVJUBCMFCSFBLJOUIF
    VTFSTJOUFSBDUJPOCFGPSFRVFVJOHUIFUBTLGPSFYBNQMF BVTFSBHFOUDPVMEXBJUGPSUIFVTFSUPIBWFOPUIJUBLFZGPS
    NT TPBTUPPOMZИSFUIFFWFOUXIFOUIFVTFSQBVTFT JOTUFBEPGDPOUJOVPVTMZGPSFBDILFZTUSPLF

    
    &YBNQMFTPGBVTFSDIBOHJOHUIFFMFNFOUT WBMVF Q XPVMEJODMVEFUIFVTFSUZQJOHJOUPBUFYUИFME QBTUJOHB
    OFXWBMVFJOUPUIFИFME PSVOEPJOHBOFEJUJOUIBUИFME4PNFVTFSJOUFSBDUJPOTEPOPUDBVTFDIBOHFTUPUIF
    WBMVF FHIJUUJOHUIFEFMFUFLFZJOBOFNQUZUFYUИFME PSSFQMBDJOHTPNFUFYUJOUIFИFMEXJUIUFYUGSPNUIF
    DMJQCPBSEUIBUIBQQFOTUPCFFYBDUMZUIFTBNFUFYU

    8IFOUIF >C<IB@ FWFOUBQQMJFT JGUIFFMFNFOUEPFTOPUIBWFBO BDUJWBUJPOCFIBWJPS Q EFИOFECVUVTFTBVTFS


    JOUFSGBDFUIBUJOWPMWFTBOFYQMJDJUDPNNJUBDUJPO UIFOBOZUJNFUIFVTFSDPNNJUTBDIBOHFUPUIFFMFNFOUT WBMVF Q
    PSMJTUPG TFMFDUFEИMFT Q UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q UIBUCVCCMFTOBNFE DIBOHF
    BUUIF JOQVU Q FMFNFOU UIFO CSPBEDBTU GPSNDIBOHF FWFOUT Q BUUIF JOQVU Q FMFNFOUT GPSNPXOFS Q 

    "OFYBNQMFPGBVTFSJOUFSGBDFXJUIBDPNNJUBDUJPOXPVMECFB 'JMF6QMPBE Q DPOUSPMUIBUDPOTJTUTPGBTJOHMF


    CVUUPOUIBUCSJOHTVQBИMFTFMFDUJPOEJBMPHXIFOUIFEJBMPHJTDMPTFE JGUIBUUIF ИMFTFMFDUJPO Q DIBOHFEBTB
    SFTVMU UIFOUIFVTFSIBTDPNNJUUFEBOFX ИMFTFMFDUJPO Q 

    "OPUIFSFYBNQMFPGBVTFSJOUFSGBDFXJUIBDPNNJUBDUJPOXPVMECFB %BUF Q DPOUSPMUIBUBMMPXTCPUIUFYU


    CBTFEVTFSJOQVUBOEVTFSTFMFDUJPOGSPNBESPQEPXODBMFOEBSXIJMFUFYUJOQVUNJHIUOPUIBWFBOFYQMJDJU
    DPNNJUTUFQ TFMFDUJOHBEBUFGSPNUIFESPQEPXODBMFOEBSBOEUIFOEJTNJTTJOHUIFESPQEPXOXPVMECFB
    DPNNJUBDUJPO

    8IFOUIFVTFSBHFOUDIBOHFTUIFFMFNFOUT WBMVF Q POCFIBMGPGUIFVTFS FHBTQBSUPGBGPSNQSFИMMJOHGFBUVSF



    UIFVTFSBHFOUNVTUGPMMPXUIFTFTUFQT

     *GUIF JOQVU Q FWFOUBQQMJFT RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q UIBUCVCCMFTOBNFE JOQVU BUUIF
    JOQVU Q FMFNFOU

     *GUIF JOQVU Q FWFOUBQQMJFT CSPBEDBTU GPSNJOQVU FWFOUT Q BUUIF JOQVU Q FMFNFOUT GPSNPXOFS Q 

     *GUIF DIBOHF Q FWFOUBQQMJFT RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q UIBUCVCCMFTOBNFE DIBOHF BUUIF
    JOQVU Q FMFNFOU

     *GUIF DIBOHF Q FWFOUBQQMJFT CSPBEDBTU GPSNDIBOHF FWFOUT Q BUUIF JOQVU Q FMFNFOUT GPSNPXOFS Q 

    *HM> %G:==BMBHG PA>GMA> <A:G@> I >O>GM:IIEB>L <A:G@> >O>GML<:G:ELH;>[K>=:LI:KMH?MA>


    >E>F>GML :<MBO:MBHG;>A:OBHK I :G=:LI:KMH?MA> NG?H<NLBG@LM>IL I

    5IF UBTLTPVSDF Q GPSUIFTF UBTLT Q JTUIF VTFSJOUFSBDUJPOUBTLTPVSDF Q 

       0B? =POOJI ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    *OUFSBDUJWFDPOUFOU Q 
    -JTUFE Q MBCFMBCMF Q BOE TVCNJUUBCMF Q GPSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q CVUUIFSFNVTUCFOP JOUFSBDUJWFDPOUFOU Q EFTDFOEBOU

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    BVUPGPDVT Q
    EJTBCMFE Q
    GPSN Q
    GPSNBDUJPO Q
    GPSNFODUZQF Q
    GPSNNFUIPE Q
    GPSNOPWBMJEBUF Q
    GPSNUBSHFU Q
    OBNF Q
    UZQF Q
    WBMVF Q

    
    +)CHN?L@;=?

    JOUFSGBDF &2+* POOJI#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO BVUPGPDVT
    BUUSJCVUFCPPMFBO EJTBCMFE
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    BUUSJCVUF%0.4USJOH GPSN"DUJPO
    BUUSJCVUF%0.4USJOH GPSN&ODUZQF
    BUUSJCVUF%0.4USJOH GPSN.FUIPE
    BUUSJCVUF%0.4USJOH GPSN/P7BMJEBUF
    BUUSJCVUF%0.4USJOH GPSN5BSHFU
    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH WBMVF

    SFBEPOMZBUUSJCVUFCPPMFBO XJMM7BMJEBUF
    SFBEPOMZBUUSJCVUF 7BMJEJUZ4UBUF WBMJEJUZ
    SFBEPOMZBUUSJCVUF%0.4USJOH WBMJEBUJPO.FTTBHF
    CPPMFBO DIFDL7BMJEJUZ
    
    WPJE TFU$VTUPN7BMJEJUZ JO%0.4USJOHFSSPS
    

    SFBEPOMZBUUSJCVUF /PEF-JTU MBCFMT


    ^

    5IF CVUUPO Q FMFNFOU SFQSFTFOUT Q BCVUUPO *GUIFFMFNFOUJTOPU EJTBCMFE Q UIFOUIFVTFSBHFOUTIPVMEBMMPXUIF
    VTFSUPBDUJWBUFUIFCVUUPO

    5IFFMFNFOUJTB CVUUPO Q 

    5IF OTK@ BUUSJCVUFDPOUSPMTUIFCFIBWJPSPGUIFCVUUPOXIFOJUJTBDUJWBUFE*UJTBO FOVNFSBUFEBUUSJCVUF Q 5IF


    GPMMPXJOHUBCMFMJTUTUIFLFZXPSETBOETUBUFTGPSUIFBUUSJCVUFǡUIFLFZXPSETJOUIFMFGUDPMVNONBQUPUIFTUBUFTJO
    UIFDFMMJOUIFTFDPOEDPMVNOPOUIFTBNFSPXBTUIFLFZXPSE

    '?SQIL> /N;N? LC?@>?M=LCJNCIH


    Q
    NP=HDO 4VCNJU#VUUPO 4VCNJUTUIFGPSN
    M@N@O 3FTFU#VUUPO Q 3FTFUTUIFGPSN
    =POOJI #VUUPO Q %PFTOPUIJOH

    5IF <8BB8=6E0;D43450D;C JTUIF 4VCNJU#VUUPO Q TUBUF

    *GUIF UZQF Q BUUSJCVUFJTJOUIF 4VCNJU#VUUPO Q TUBUF UIFFMFNFOUJTTQFDJИDBMMZB TVCNJUCVUUPO Q 

    IHMNL;CHNP;FC>;NCIH*GUIF UZQF Q BUUSJCVUFJTJOUIF 3FTFU#VUUPO Q TUBUFPSUIF #VUUPO Q TUBUF UIFFMFNFOUJT
    CBSSFEGSPNDPOTUSBJOUWBMJEBUJPO Q 

    *GUIFFMFNFOUJTOPU EJTBCMFE Q UIF BDUJWBUJPOCFIBWJPS Q PGUIF CVUUPO Q FMFNFOUJTUPSVOUIFTUFQTEFИOFEJOUIF
    GPMMPXJOHMJTUGPSUIFDVSSFOUTUBUFPGUIFFMFNFOUT UZQF Q BUUSJCVUF

    /N;FBMNMMHG
    *GUIFFMFNFOUIBTB GPSNPXOFS Q UIFFMFNFOUNVTU TVCNJU Q UIF GPSNPXOFS Q GSPNUIF CVUUPO Q
    FMFNFOU

    .>L>MNMMHG
    *GUIFFMFNFOUIBTB GPSNPXOFS Q UIFFMFNFOUNVTU SFTFU Q UIF GPSNPXOFS Q 

    NMMHG
    %POPUIJOH

    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF CVUUPO Q FMFNFOUXJUIJUT GPSNPXOFS Q 5IF OBNF Q
    BUUSJCVUFSFQSFTFOUTUIFFMFNFOUTOBNF5IF EJTBCMFE Q BUUSJCVUFJTVTFEUPNBLFUIFDPOUSPMOPOJOUFSBDUJWFBOEUP
    QSFWFOUJUTWBMVFGSPNCFJOHTVCNJUUFE5IF BVUPGPDVT Q BUUSJCVUFDPOUSPMTGPDVT5IF GPSNBDUJPO Q
    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q BOE GPSNUBSHFU Q BUUSJCVUFTBSF BUUSJCVUFTGPSGPSN
    TVCNJTTJPO Q 

    
    *HM> 0A> ?HKFGHO:EB=:M> I :MMKB;NM><:G;>NL>=MHF:D>LN;FBM;NMMHGLMA:M=HGHMMKB@@>KMA>
    <HGLMK:BGMO:EB=:MBHG

    5IF GPSNBDUJPO Q GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q BOE GPSNUBSHFU Q NVTUOPUCFTQFDJИFE
    JGUIFFMFNFOUT UZQF Q BUUSJCVUFJTOPUJOUIF 4VCNJU#VUUPO Q TUBUF

    5IF Q<GP@ BUUSJCVUFHJWFTUIFFMFNFOUTWBMVFGPSUIFQVSQPTFTPGGPSNTVCNJTTJPO5IFFMFNFOUT WBMVF Q JTUIF


    WBMVFPGUIFFMFNFOUT WBMVF Q BUUSJCVUF JGUIFSFJTPOF PSUIFFNQUZTUSJOHPUIFSXJTF

    *HM> ;NMMHG:G=BMLO:EN>BLHGERBG<EN=>=BGMA>?HKFLN;FBLLBHGB?MA>;NMMHGBML>E?P:LNL>=
    MHBGBMB:M>MA>?HKFLN;FBLLBHG

    5IF Q<GP@ BOE OTK@ *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF XJMM7BMJEBUF Q WBMJEJUZ Q BOE WBMJEBUJPO.FTTBHF Q BUUSJCVUFT BOEUIF DIFDL7BMJEJUZ
    Q BOE
    TFU$VTUPN7BMJEJUZ
    Q NFUIPET BSFQBSUPGUIF DPOTUSBJOUWBMJEBUJPO"1* Q 5IF MBCFMT Q BUUSJCVUFQSPWJEFTBMJTU
    PGUIFFMFNFOUT MBCFM Q T

    5IFGPMMPXJOHCVUUPOJTMBCFMFE4IPXIJOUBOEQPQTVQBEJBMPHCPYXIFOBDUJWBUFE

    CVUUPOUZQFCVUUPO
    PODMJDLBMFSU 5IJTNJOVUFQJFDFXBTDPNQPTFECZ(FPSHF(FSTIXJO
    
    4IPXIJOU
    CVUUPO

       0B? N@G@>O ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    *OUFSBDUJWFDPOUFOU Q 
    -JTUFE Q MBCFMBCMF Q TVCNJUUBCMF Q BOE SFTFUUBCMF Q GPSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    ;FSPPSNPSF PQUJPO Q PS PQUHSPVQ Q FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    BVUPGPDVT Q
    EJTBCMFE Q
    GPSN Q
    NVMUJQMF Q
    OBNF Q
    TJ[F Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*1@G@>O#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO BVUPGPDVT
    BUUSJCVUFCPPMFBO EJTBCMFE
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    BUUSJCVUFCPPMFBO NVMUJQMF
    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUFVOTJHOFEMPOH TJ[F

    SFBEPOMZBUUSJCVUF%0.4USJOH UZQF

    SFBEPOMZBUUSJCVUF )5.-0QUJPOT$PMMFDUJPO PQUJPOT


    BUUSJCVUFVOTJHOFEMPOH MFOHUI
    DBMMFSHFUUFSBOZ JUFN JOVOTJHOFEMPOHJOEFY
    
    DBMMFSHFUUFSBOZ OBNFE*UFN JO%0.4USJOHOBNF
    

    
    WPJE BEE JO )5.-&MFNFOU FMFNFOU JOPQUJPOBM )5.-&MFNFOU CFGPSF
    
    WPJE BEE JO )5.-&MFNFOU FMFNFOU JOMPOHCFGPSF
    
    WPJE SFNPWF JOMPOHJOEFY
    

    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO TFMFDUFE0QUJPOT


    BUUSJCVUFMPOH TFMFDUFE*OEFY
    BUUSJCVUF%0.4USJOH WBMVF

    SFBEPOMZBUUSJCVUFCPPMFBO XJMM7BMJEBUF
    SFBEPOMZBUUSJCVUF 7BMJEJUZ4UBUF WBMJEJUZ
    SFBEPOMZBUUSJCVUF%0.4USJOH WBMJEBUJPO.FTTBHF
    CPPMFBO DIFDL7BMJEJUZ
    
    WPJE TFU$VTUPN7BMJEJUZ JO%0.4USJOHFSSPS
    

    SFBEPOMZBUUSJCVUF /PEF-JTU MBCFMT


    ^

    5IF TFMFDU Q FMFNFOUSFQSFTFOUTBDPOUSPMGPSTFMFDUJOHBNPOHTUBTFUPGPQUJPOT

    5IF HPGODKG@ BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q *GUIFBUUSJCVUFJTQSFTFOU UIFOUIF TFMFDU Q FMFNFOU SFQSFTFOUT Q
    BDPOUSPMGPSTFMFDUJOH[FSPPSNPSFPQUJPOTGSPNUIF MJTUPGPQUJPOT Q *GUIFBUUSJCVUFJTBCTFOU UIFOUIF TFMFDU Q
    FMFNFOU SFQSFTFOUT Q BDPOUSPMGPSTFMFDUJOHBTJOHMFPQUJPOGSPNUIF MJTUPGPQUJPOT Q 

    5IF FCMNI@IJNCIHM GPSB TFMFDU Q FMFNFOUDPOTJTUTPGBMMUIF PQUJPO Q FMFNFOUDIJMESFOPGUIF TFMFDU Q FMFNFOU
    BOEBMMUIF PQUJPO Q FMFNFOUDIJMESFOPGBMMUIF PQUHSPVQ Q FMFNFOUDIJMESFOPGUIF TFMFDU Q FMFNFOU JO USFF
    PSEFS Q 

    5IF NDU@ BUUSJCVUFHJWFTUIFOVNCFSPGPQUJPOTUPTIPXUPUIFVTFS5IF TJ[F Q BUUSJCVUF JGTQFDJИFE NVTUIBWFB


    WBMVFUIBUJTB WBMJEOPOOFHBUJWFJOUFHFS Q HSFBUFSUIBO[FSP*GUIF NVMUJQMF Q BUUSJCVUFJTQSFTFOU UIFOUIF
    TJ[F Q BUUSJCVUFTEFGBVMUWBMVFJT*GUIF NVMUJQMF Q BUUSJCVUFJTBCTFOU UIFOUIF TJ[F Q BUUSJCVUFTEFGBVMUWBMVF
    JT

    *GUIF NVMUJQMF Q BUUSJCVUFJTBCTFOU BOEUIFFMFNFOUJTOPU EJTBCMFE Q UIFOUIFVTFSBHFOUTIPVMEBMMPXUIFVTFS


    UPQJDLBO PQUJPO Q FMFNFOUJOJUT MJTUPGPQUJPOT Q UIBUJTJUTFMGOPU EJTBCMFE Q 6QPOUIJT PQUJPO Q FMFNFOUCFJOH
    JC=E?> FJUIFSUISPVHIBDMJDL PSUISPVHIVOGPDVTJOHUIFFMFNFOUBGUFSDIBOHJOHJUTWBMVF PSUISPVHIB NFOV
    DPNNBOE Q PSUISPVHIBOZPUIFSNFDIBOJTN
    BOECFGPSFUIFSFMFWBOUVTFSJOUFSBDUJPOFWFOUJTRVFVFE FHCFGPSF
    UIF DMJDL Q FWFOU
    UIFVTFSBHFOUNVTUTFUUIF TFMFDUFEOFTT Q PGUIFQJDLFE PQUJPO Q FMFNFOUUPUSVFBOEUIFO
    RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q UIBUCVCCMFTOBNFE DIBOHF BUUIF TFMFDU Q FMFNFOU VTJOHUIF VTFS
    JOUFSBDUJPOUBTLTPVSDF Q BTUIFUBTLTPVSDF UIFO CSPBEDBTU GPSNDIBOHF FWFOUT Q BUUIFFMFNFOUT GPSNPXOFS Q 

    *GUIF NVMUJQMF Q BUUSJCVUFJTBCTFOU XIFOFWFSBO PQUJPO Q FMFNFOUJOUIF TFMFDU Q FMFNFOUT MJTUPGPQUJPOT Q
    IBTJUT TFMFDUFEOFTT Q TFUUPUSVF BOEXIFOFWFSBO PQUJPO Q FMFNFOUXJUIJUT TFMFDUFEOFTT Q TFUUPUSVFJTBEEFE
    UPUIF TFMFDU Q FMFNFOUT MJTUPGPQUJPOT Q UIFVTFSBHFOUNVTUTFUUIF TFMFDUFEOFTT Q PGBMMUIFPUIFS PQUJPO Q
    FMFNFOUJOJUT MJTUPGPQUJPOT Q UPGBMTF

    *GUIF NVMUJQMF Q BUUSJCVUFJTBCTFOU XIFOFWFSUIFSFBSFOP PQUJPO Q FMFNFOUTJOUIF TFMFDU Q FMFNFOUT MJTUPG
    PQUJPOT Q UIBUIBWFUIFJS TFMFDUFEOFTT Q TFUUPUSVF UIFVTFSBHFOUNVTUTFUUIF TFMFDUFEOFTT Q PGUIFИSTU
    PQUJPO Q FMFNFOUJOUIF MJTUPGPQUJPOT Q JO USFFPSEFS Q UIBUJTOPU EJTBCMFE Q JGBOZ UPUSVF

    *GUIF NVMUJQMF Q BUUSJCVUFJTQSFTFOU BOEUIFFMFNFOUJTOPU EJTBCMFE Q UIFOUIFVTFSBHFOUTIPVMEBMMPXUIFVTFS


    UP NIAAF? UIF TFMFDUFEOFTT Q PGUIF PQUJPO Q FMFNFOUTJOJUT MJTUPGPQUJPOT Q UIBUBSFUIFNTFMWFTOPU EJTBCMFE Q
    FJUIFSUISPVHIBDMJDL PSUISPVHIB NFOVDPNNBOE Q PSBOZPUIFSNFDIBOJTN
    6QPOUIF TFMFDUFEOFTT Q PGPOF
    PSNPSF PQUJPO Q FMFNFOUTCFJOHDIBOHFECZUIFVTFS BOECFGPSFUIFSFMFWBOUVTFSJOUFSBDUJPOFWFOUJTRVFVFE FH
    CFGPSFBSFMBUFE DMJDL Q FWFOU
    UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q UIBUCVCCMFTOBNFE
    DIBOHF BUUIF TFMFDU Q FMFNFOU VTJOHUIF VTFSJOUFSBDUJPOUBTLTPVSDF Q BTUIFUBTLTPVSDF UIFO CSPBEDBTU
    GPSNDIBOHF FWFOUT Q BUUIFFMFNFOUT GPSNPXOFS Q 

    5IF SFTFUBMHPSJUIN Q GPS TFMFDU Q FMFNFOUTJTUPHPUISPVHIBMMUIF PQUJPO Q FMFNFOUTJOUIFFMFNFOUT MJTUPG
    PQUJPOT Q BOETFUUIFJS TFMFDUFEOFTT Q UPUSVFJGUIF PQUJPO Q FMFNFOUIBTB TFMFDUFE Q BUUSJCVUF BOEGBMTF
    PUIFSXJTF

    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF TFMFDU Q FMFNFOUXJUIJUT GPSNPXOFS Q 5IF OBNF Q
    BUUSJCVUFSFQSFTFOUTUIFFMFNFOUTOBNF5IF EJTBCMFE Q BUUSJCVUFJTVTFEUPNBLFUIFDPOUSPMOPOJOUFSBDUJWFBOEUP
    QSFWFOUJUTWBMVFGSPNCFJOHTVCNJUUFE5IF BVUPGPDVT Q BUUSJCVUFDPOUSPMTGPDVT

    
    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    L>E><M OTK@
    3FUVSOTTFMFDUNVMUJQMFJGUIFFMFNFOUIBTB NVMUJQMF Q BUUSJCVUF BOETFMFDUPOFPUIFSXJTF

    L>E><M JKODJIN K


    3FUVSOTBO )5.-0QUJPOT$PMMFDUJPO Q PGUIF MJTUPGPQUJPOT Q 

    L>E><M G@IBOC K 7 O:EN> 8


    3FUVSOTUIFOVNCFSPGFMFNFOUTJOUIF MJTUPGPQUJPOT Q 
    8IFOTFUUPBTNBMMFSOVNCFS USVODBUFTUIFOVNCFSPG PQUJPO Q FMFNFOUTJOUIF TFMFDU Q 
    8IFOTFUUPBHSFBUFSOVNCFS BEETOFXCMBOL PQUJPO Q FMFNFOUTUPUIF TFMFDU Q 

    >E>F>GM  L>E><M DO@H K BG=>Q


    L>E><M7BG=>Q8
    L>E><MBG=>Q
    3FUVSOTUIFJUFNXJUIJOEFY 8=34G GSPNUIF MJTUPGPQUJPOT Q 5IFJUFNTBSFTPSUFEJO USFFPSEFS Q 
    3FUVSOTOVMMJG 8=34G JTPVUPGSBOHF

    >E>F>GM  L>E><M I<H@?'O@H K G:F>


    L>E><M7G:F>8
    L>E><MG:F>
    3FUVSOTUIFJUFNXJUI*%PS OBNF Q =0<4 GSPNUIF MJTUPGPQUJPOT Q 
    *GUIFSFBSFNVMUJQMFNBUDIJOHJUFNT UIFOB /PEF-JTU Q PCKFDUDPOUBJOJOHBMMUIPTFFMFNFOUTJTSFUVSOFE
    3FUVSOTOVMMJGOPFMFNFOUXJUIUIBU*%DPVMECFGPVOE

    L>E><M <?? K >E>F>GM 7


    ;>?HK> 8
    *OTFSUT 4;4<4=C CFGPSFUIFOPEFHJWFOCZ 145>A4
    5IF 145>A4 BSHVNFOUDBOCFBOVNCFS JOXIJDIDBTF 4;4<4=C JTJOTFSUFECFGPSFUIFJUFNXJUIUIBU
    OVNCFS PSBOFMFNFOUGSPNUIF MJTUPGPQUJPOT Q JOXIJDIDBTF 4;4<4=C JTJOTFSUFECFGPSFUIBUFMFNFOU
    *G 145>A4 JTPNJUUFE OVMM PSBOVNCFSPVUPGSBOHF UIFO 4;4<4=C XJMMCFBEEFEBUUIFFOEPGUIFMJTU
    5IJTNFUIPEXJMMUISPXB )*&3"3$):@3&26&45@&33 Q FYDFQUJPOJG 4;4<4=C JTBOBODFTUPSPGUIFFMFNFOU
    JOUPXIJDIJUJTUPCFJOTFSUFE*G 4;4<4=C JTOPUBO PQUJPO Q PS PQUHSPVQ Q FMFNFOU UIFOUIFNFUIPE
    EPFTOPUIJOH

    L>E><M N@G@>O@?-KODJIN K


    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIF MJTUPGPQUJPOT Q UIBUBSFTFMFDUFE

    L>E><M N@G@>O@?'I?@S K 7 O:EN> 8


    3FUVSOTUIFJOEFYPGUIFИSTUTFMFDUFEJUFN JGBOZ PSʐJGUIFSFJTOPTFMFDUFEJUFN
    $BOCFTFU UPDIBOHFUIFTFMFDUJPO

    L>E><M Q<GP@ K 7 O:EN> 8


    3FUVSOTUIF WBMVF Q PGUIFИSTUTFMFDUFEJUFN JGBOZ PSUIFFNQUZTUSJOHJGUIFSFJTOPTFMFDUFEJUFN
    $BOCFTFU UPDIBOHFUIFTFMFDUJPO

    5IF OTK@ *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFTUSJOHTFMFDUPOFJGUIF NVMUJQMF Q BUUSJCVUFJTBCTFOU BOEUIF


    TUSJOHTFMFDUNVMUJQMFJGUIF NVMUJQMF Q BUUSJCVUFJTQSFTFOU

    5IF JKODJIN *%-BUUSJCVUFNVTUSFUVSOBO )5.-0QUJPOT$PMMFDUJPO Q SPPUFEBUUIF TFMFDU Q OPEF XIPTFИMUFS
    NBUDIFTUIFFMFNFOUTJOUIF MJTUPGPQUJPOT Q 

    5IF PQUJPOT Q DPMMFDUJPOJTBMTPNJSSPSFEPOUIF )5.-4FMFDU&MFNFOU Q PCKFDU5IF JOEJDFTPGUIFTVQQPSUFEJOEFYFE


    QSPQFSUJFT BUBOZJOTUBOUBSFUIFJOEJDFTTVQQPSUFECZUIFPCKFDUSFUVSOFECZUIF PQUJPOT Q BUUSJCVUFBUUIBUJOTUBOU
    5IF OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT BUBOZJOTUBOUBSFUIFOBNFTTVQQPSUFECZUIFPCKFDUSFUVSOFECZUIF
    PQUJPOT Q BUUSJCVUFBUUIBUJOTUBOU

    
    5IF G@IBOC *%-BUUSJCVUFNVTUSFUVSOUIFOVNCFSPGOPEFT SFQSFTFOUFE Q CZUIF PQUJPOT Q DPMMFDUJPO0OTFUUJOH JU
    NVTUBDUMJLFUIFBUUSJCVUFPGUIFTBNFOBNFPOUIF PQUJPOT Q DPMMFDUJPO

    5IF DO@HBG=>Q NFUIPENVTUSFUVSOUIFWBMVFSFUVSOFECZUIFNFUIPEPGUIFTBNFOBNFPOUIF PQUJPOT Q


    DPMMFDUJPO XIFOJOWPLFEXJUIUIFTBNFBSHVNFOU

    5IF I<H@?'O@HG:F> NFUIPENVTUSFUVSOUIFWBMVFSFUVSOFECZUIFNFUIPEPGUIFTBNFOBNFPOUIF PQUJPOT Q


    DPMMFDUJPO XIFOJOWPLFEXJUIUIFTBNFBSHVNFOU

    4JNJMBSMZ UIF <?? BOE M@HJQ@ NFUIPETNVTUBDUMJLFUIFJSOBNFTBLFNFUIPETPOUIBUTBNF PQUJPOT Q


    DPMMFDUJPO

    5IF N@G@>O@?-KODJIN *%-BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF TFMFDU Q OPEF XIPTFИMUFS
    NBUDIFTUIFFMFNFOUTJOUIF MJTUPGPQUJPOT Q UIBUIBWFUIFJS TFMFDUFEOFTT Q TFUUPUSVF

    5IF N@G@>O@?'I?@S *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIF JOEFY Q PGUIFИSTU PQUJPO Q FMFNFOUJOUIF MJTUPG
    PQUJPOT Q JO USFFPSEFS Q UIBUIBTJUT TFMFDUFEOFTT Q TFUUPUSVF JGBOZ*GUIFSFJTOUPOF UIFOJUNVTUSFUVSOʐ

    0OTFUUJOH UIF TFMFDUFE*OEFY Q BUUSJCVUFNVTUTFUUIF TFMFDUFEOFTT Q PGBMMUIF PQUJPO Q FMFNFOUTJOUIF MJTUPG
    PQUJPOT Q UPGBMTF BOEUIFOUIF PQUJPO Q FMFNFOUJOUIF MJTUPGPQUJPOT Q XIPTF JOEFY Q JTUIFHJWFOOFXWBMVF JG
    BOZ NVTUIBWFJUT TFMFDUFEOFTT Q TFUUPUSVF

    5IF Q<GP@ *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIF WBMVF Q PGUIFИSTU PQUJPO Q FMFNFOUJOUIF MJTUPGPQUJPOT Q JO
    USFFPSEFS Q UIBUIBTJUT TFMFDUFEOFTT Q TFUUPUSVF JGBOZ*GUIFSFJTOUPOF UIFOJUNVTUSFUVSOUIFFNQUZTUSJOH

    0OTFUUJOH UIF WBMVF Q BUUSJCVUFNVTUTFUUIF TFMFDUFEOFTT Q PGBMMUIF PQUJPO Q FMFNFOUTJOUIF MJTUPGPQUJPOT Q
    UPGBMTF BOEUIFOИSTUUIF PQUJPO Q FMFNFOUJOUIF MJTUPGPQUJPOT Q JO USFFPSEFS Q XIPTF WBMVF Q JTFRVBMUPUIF
    HJWFOOFXWBMVF JGBOZ NVTUIBWFJUT TFMFDUFEOFTT Q TFUUPUSVF

    5IF HPGODKG@ BOE NDU@ *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF5IF TJ[F Q
    *%-BUUSJCVUF MJNJUFEUPPOMZOPOOFHBUJWFOVNCFSTHSFBUFSUIBO[FSP Q 

    5IF XJMM7BMJEBUF Q WBMJEJUZ Q BOE WBMJEBUJPO.FTTBHF Q BUUSJCVUFT BOEUIF DIFDL7BMJEJUZ
    Q BOE
    TFU$VTUPN7BMJEJUZ
    Q NFUIPET BSFQBSUPGUIF DPOTUSBJOUWBMJEBUJPO"1* Q 5IF MBCFMT Q BUUSJCVUFQSPWJEFTBMJTU
    PGUIFFMFNFOUT MBCFM Q T

    5IFGPMMPXJOHFYBNQMFTIPXTIPXB TFMFDU Q FMFNFOUDBOCFVTFEUPPЗFSUIFVTFSXJUIBTFUPGPQUJPOTGSPN


    XIJDIUIFVTFSDBOTFMFDUBTJOHMFPQUJPO5IFEFGBVMUPQUJPOJTQSFTFMFDUFE

    Q
    MBCFMGPSVOJUUZQF4FMFDUVOJUUZQFMBCFM
    TFMFDUJEVOJUUZQFOBNFVOJUUZQF
    PQUJPOWBMVF.JOFSPQUJPO
    PQUJPOWBMVF1VGGFSPQUJPO
    PQUJPOWBMVFTFMFDUFE4OJQFZPQUJPO
    PQUJPOWBMVF.BYPQUJPO
    PQUJPOWBMVF'JSFCPUPQUJPO
    TFMFDU
    Q

    )FSF UIFVTFSJTPЗFSFEBTFUPGPQUJPOTGSPNXIJDIIFDBOTFMFDUBOZOVNCFS#ZEFGBVMU BMMИWFPQUJPOTBSF


    TFMFDUFE

    Q
    MBCFMGPSBMMPXFEVOJUT4FMFDUVOJUUZQFTUPFOBCMFPOUIJTNBQMBCFM
    TFMFDUJEBMMPXFEVOJUTOBNFBMMPXFEVOJUTNVMUJQMF
    PQUJPOWBMVFTFMFDUFE.JOFSPQUJPO
    PQUJPOWBMVFTFMFDUFE1VGGFSPQUJPO
    PQUJPOWBMVFTFMFDUFE4OJQFZPQUJPO
    PQUJPOWBMVFTFMFDUFE.BYPQUJPO
    PQUJPOWBMVFTFMFDUFE'JSFCPUPQUJPO
    TFMFDU
    Q

       0B? ?<O<GDNO ?F?G?HN

    
    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &JUIFS QISBTJOHDPOUFOU Q 
    0S;FSPPSNPSF PQUJPO Q FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*"<O<*DNO#G@H@IO  )5.-&MFNFOU \


    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO PQUJPOT
    ^

    5IF EBUBMJTU Q FMFNFOUSFQSFTFOUTBTFUPG PQUJPO Q FMFNFOUTUIBUSFQSFTFOUQSFEFИOFEPQUJPOTGPSPUIFSDPOUSPMT


    5IFDPOUFOUTPGUIFFMFNFOUSFQSFTFOUTGBMMCBDLDPOUFOUGPSMFHBDZVTFSBHFOUT JOUFSNJYFEXJUI PQUJPO Q FMFNFOUT
    UIBUSFQSFTFOUUIFQSFEFИOFEPQUJPOT*OUIFSFOEFSJOH UIF EBUBMJTU Q FMFNFOU SFQSFTFOUT Q OPUIJOH BOEJU BMPOH
    XJUIJUTDIJMESFO TIPVMECFIJEEFO

    5IF EBUBMJTU Q FMFNFOUJTIPPLFEVQUPBO JOQVU Q FMFNFOUVTJOHUIF MJTU Q BUUSJCVUFPOUIF JOQVU Q FMFNFOU

    &BDI PQUJPO Q FMFNFOUUIBUJTBEFTDFOEBOUPGUIF EBUBMJTU Q FMFNFOU UIBUJTOPU EJTBCMFE Q BOEXIPTF
    WBMVF Q JTBTUSJOHUIBUJTOUUIFFNQUZTUSJOH SFQSFTFOUTBTVHHFTUJPO&BDITVHHFTUJPOIBTB WBMVF Q BOEB
    MBCFM Q 

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =:M:EBLM JKODJIN
    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIF PQUJPOT FMFNFOUTPGUIFUBCMF

    5IF JKODJIN *%-BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF EBUBMJTU Q OPEF XIPTFИMUFSNBUDIFT
    PQUJPO Q FMFNFOUT

    IHMNL;CHNP;FC>;NCIH*GBOFMFNFOUIBTB EBUBMJTU Q FMFNFOUBODFTUPS JUJT CBSSFEGSPNDPOTUSBJOUWBMJEBUJPO Q 

       0B? JKOBMJPK ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB TFMFDU Q FMFNFOU

    IHN?HNGI>?F
    ;FSPPSNPSF PQUJPO Q FMFNFOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    EJTBCMFE Q
    MBCFM Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*-KO%MJPK#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO EJTBCMFE
    BUUSJCVUF%0.4USJOH MBCFM
    ^

    
    5IF PQUHSPVQ Q FMFNFOU SFQSFTFOUT Q BHSPVQPG PQUJPO Q FMFNFOUTXJUIBDPNNPOMBCFM

    5IFFMFNFOUTHSPVQPG PQUJPO Q FMFNFOUTDPOTJTUTPGUIF PQUJPO Q FMFNFOUTUIBUBSFDIJMESFOPGUIF PQUHSPVQ Q


    FMFNFOU

    8IFOTIPXJOH PQUJPO Q FMFNFOUTJO TFMFDU Q FMFNFOUT VTFSBHFOUTTIPVMETIPXUIF PQUJPO Q FMFNFOUTPGTVDI
    HSPVQTBTCFJOHSFMBUFEUPFBDIPUIFSBOETFQBSBUFGSPNPUIFS PQUJPO Q FMFNFOUT

    5IF ?DN<=G@? BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q BOEDBOCFVTFEUP EJTBCMF Q BHSPVQPG PQUJPO Q FMFNFOUT
    UPHFUIFS

    5IF G<=@G BUUSJCVUFNVTUCFTQFDJИFE*UTWBMVFHJWFTUIFOBNFPGUIFHSPVQ GPSUIFQVSQPTFTPGUIFVTFSJOUFSGBDF


    6TFSBHFOUTTIPVMEVTFUIJTBUUSJCVUFTWBMVFXIFOMBCFMMJOHUIFHSPVQPG PQUJPO Q FMFNFOUTJOB TFMFDU Q FMFNFOU

    5IF ?DN<=G@? BOE G<=@G BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IFGPMMPXJOHTOJQQFUTIPXTIPXBTFUPGMFTTPOTGSPNUISFFDPVSTFTDPVMECFPЗFSFEJOB TFMFDU Q ESPQEPXO


    XJEHFU

    GPSNBDUJPODPVSTFTFMFDUPSEMMNFUIPEHFU
    Q8IJDIDPVSTFXPVMEZPVMJLFUPXBUDIUPEBZ
    QMBCFM$PVSTF
    TFMFDUOBNFD
    PQUHSPVQMBCFM1IZTJDT*$MBTTJDBM.FDIBOJDT
    PQUJPOWBMVF-FDUVSF1PXFSTPG5FO
    PQUJPOWBMVF-FDUVSF%,JOFNBUJDT
    PQUJPOWBMVF-FDUVSF7FDUPST
    PQUHSPVQMBCFM&MFDUSJDJUZBOE.BHOFTUJTN
    PQUJPOWBMVF-FDUVSF8IBUIPMETPVSXPSMEUPHFUIFS
    PQUJPOWBMVF-FDUVSF&MFDUSJD'JFME
    PQUJPOWBMVF-FDUVSF&MFDUSJD'MVY
    PQUHSPVQMBCFM1IZTJDT***7JCSBUJPOTBOE8BWFT
    PQUJPOWBMVF-FDUVSF1FSJPEJD1IFOPNFOPO
    PQUJPOWBMVF-FDUVSF#FBUT
    PQUJPOWBMVF-FDUVSF'PSDFE0TDJMMBUJPOTXJUI%BNQJOH
    TFMFDU
    MBCFM
    QJOQVUUZQFTVCNJUWBMVF€1MBZ
    GPSN

       0B? JKODJI ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TBDIJMEPGB TFMFDU Q FMFNFOU
    "TBDIJMEPGB EBUBMJTU Q FMFNFOU
    "TBDIJMEPGBO PQUHSPVQ Q FMFNFOU

    IHN?HNGI>?F
    5FYU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    EJTBCMFE Q
    MBCFM Q
    TFMFDUFE Q
    WBMVF Q

    +)CHN?L@;=?

    </BNFE$POTUSVDUPS0QUJPO

    /BNFE$POTUSVDUPS0QUJPO JO%0.4USJOHUFYU

    /BNFE$POTUSVDUPS0QUJPO JO%0.4USJOHUFYU JO%0.4USJOHWBMVF

    /BNFE$POTUSVDUPS0QUJPO JO%0.4USJOHUFYU JO%0.4USJOHWBMVF JOCPPMFBO

    
    EFGBVMU4FMFDUFE

    /BNFE$POTUSVDUPS0QUJPO JO%0.4USJOHUFYU JO%0.4USJOHWBMVF JOCPPMFBO
    EFGBVMU4FMFDUFE JOCPPMFBOTFMFDUFE
    >
    JOUFSGBDF &2+*-KODJI#G@H@IO  )5.-&MFNFOU \
    BUUSJCVUFCPPMFBO EJTBCMFE
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    BUUSJCVUF%0.4USJOH MBCFM
    BUUSJCVUFCPPMFBO EFGBVMU4FMFDUFE
    BUUSJCVUFCPPMFBO TFMFDUFE
    BUUSJCVUF%0.4USJOH WBMVF

    BUUSJCVUF%0.4USJOH UFYU
    SFBEPOMZBUUSJCVUFMPOH JOEFY
    ^

    5IF PQUJPO Q FMFNFOU SFQSFTFOUT Q BOPQUJPOJOB TFMFDU Q FMFNFOUPSBTQBSUPGBMJTUPGTVHHFTUJPOTJOB
    EBUBMJTU Q FMFNFOU

    5IF ?DN<=G@? BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q "O PQUJPO Q FMFNFOUJT >CM;<F?> JGJUT EJTBCMFE Q BUUSJCVUFJT
    QSFTFOUPSJGJUJTBDIJMEPGBO PQUHSPVQ Q FMFNFOUXIPTF EJTBCMFE Q BUUSJCVUFJTQSFTFOU

    "O PQUJPO Q FMFNFOUUIBUJT EJTBCMFE Q NVTUQSFWFOUBOZ DMJDL Q FWFOUTUIBUBSF RVFVFE Q POUIF VTFS
    JOUFSBDUJPOUBTLTPVSDF Q GSPNCFJOHEJTQBUDIFEPOUIFFMFNFOU

    5IF G<=@G BUUSJCVUFQSPWJEFTBMBCFMGPSFMFNFOU5IF F;<?F PGBO PQUJPO Q FMFNFOUJTUIFWBMVFPGUIF MBCFM Q
    BUUSJCVUF JGUIFSFJTPOF PSUIF UFYU$POUFOU Q PGUIFFMFNFOU JGUIFSFJTOU

    5IF Q<GP@ BUUSJCVUFQSPWJEFTBWBMVFGPSFMFNFOU5IF P;FO? PGBO PQUJPO Q FMFNFOUJTUIFWBMVFPGUIF WBMVF Q
    BUUSJCVUF JGUIFSFJTPOF PSUIF UFYU$POUFOU Q PGUIFFMFNFOU JGUIFSFJTOU

    5IF N@G@>O@? BUUSJCVUFSFQSFTFOUTUIFEFGBVMU TFMFDUFEOFTT Q PGUIFFMFNFOU

    5IF M?F?=N?>H?MM PGBO PQUJPO Q FMFNFOUJTBCPPMFBOTUBUF JOJUJBMMZGBMTF*GUIFFMFNFOUJT EJTBCMFE Q UIFOUIF
    FMFNFOUT TFMFDUFEOFTT Q JTBMXBZTGBMTFBOEDBOOPUCFTFUUPUSVF&YDFQUXIFSFPUIFSXJTFTQFDJИFE XIFOUIF
    FMFNFOUJTDSFBUFE JUT TFMFDUFEOFTT Q NVTUCFTFUUPUSVFJGUIFFMFNFOUIBTB TFMFDUFE Q BUUSJCVUF8IFOFWFSBO
    PQUJPO Q FMFNFOUT TFMFDUFE Q BUUSJCVUFJTBEEFE JUT TFMFDUFEOFTT Q NVTUCFTFUUPUSVF

    *HM> 0A> -IMBHG I <HGLMKN<MHKPBMAMAK>>HK?>P>K:K@NF>GMLHO>KKB=>LMA>BGBMB:ELM:M>H?MA>


    L>E><M>=G>LL I LM:M>MH:EP:RL;>?:EL>>O>GB?MA>MABK=:K@NF>GMBLMKN>BFIERBG@MA:M:
    L>E><M>= I :MMKB;NM>BLMH;>L>M 0A>?HNKMA:K@NF>GM<:G;>NL>=MH>QIEB<BMERL>MMA>BGBMB:E
    L>E><M>=G>LL I LM:M>PA>GNLBG@MA><HGLMKN<MHK

    "O PQUJPO Q FMFNFOUT CH>?R JTUIFOVNCFSPG PQUJPO Q FMFNFOUUIBUBSFJOUIFTBNF MJTUPGPQUJPOT Q CVUUIBU
    DPNFCFGPSFJUJO USFFPSEFS Q *GUIF PQUJPO Q FMFNFOUJTOPUJOB MJTUPGPQUJPOT Q UIFOUIF PQUJPO Q FMFNFOUT
    JOEFY Q JT[FSP

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    HIMBHG N@G@>O@? K
    3FUVSOTUSVFJGUIFFMFNFOUJTTFMFDUFE BOEGBMTFPUIFSXJTF

    HIMBHG DI?@S K


    3FUVSOTUIFJOEFYPGUIFFMFNFOUJOJUT TFMFDU Q FMFNFOUT PQUJPOT Q MJTU

    HIMBHG AJMH K


    3FUVSOTUIFFMFNFOUT GPSN Q FMFNFOU JGBOZ PSOVMMPUIFSXJTF

    HIMBHG O@SO K


    4BNFBT UFYU$POUFOU Q 

    
    HIMBHG H?Q -KODJI K 7 M>QM 7
    O:EN> 7
    =>?:NEM/>E><M>= 7
    L>E><M>= 8888
    3FUVSOTBOFX PQUJPO Q FMFNFOU
    5IF C4GC BSHVNFOUTFUTUIFDPOUFOUTPGUIFFMFNFOU
    5IF E0;D4 BSHVNFOUTFUTUIF WBMVF Q BUUSJCVUF
    5IF 3450D;C)4;42C43 BSHVNFOUTFUTUIF TFMFDUFE Q BUUSJCVUF
    5IF B4;42C43 BSHVNFOUTFUTXIFUIFSPSOPUUIFFMFNFOUJTTFMFDUFE*GJUJTPNJUUFE FWFOJGUIF
    3450D;C)4;42C43 BSHVNFOUJTUSVF UIFFMFNFOUJTOPUTFMFDUFE

    5IF ?DN<=G@? BOE G<=@G *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF5IF


    ?@A<PGO1@G@>O@? *%-BUUSJCVUFNVTU SFЙFDU Q UIF TFMFDUFE Q DPOUFOUBUUSJCVUF

    5IF Q<GP@ *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFWBMVFPGUIFFMFNFOUT WBMVF Q DPOUFOUBUUSJCVUF JGJUIBTPOF PS
    FMTFUIFWBMVFPGUIFFMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUF0OTFUUJOH UIFFMFNFOUT WBMVF Q DPOUFOUBUUSJCVUF
    NVTUCFTFUUPUIFOFXWBMVF

    5IF N@G@>O@? *%-BUUSJCVUFNVTUSFUVSOUSVFJGUIFFMFNFOUT TFMFDUFEOFTT Q JTUSVF BOEGBMTFPUIFSXJTF

    5IF DI?@S *%-BUUSJCVUFNVTUSFUVSOUIFFMFNFOUT JOEFY Q 

    5IF O@SO *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFTBNFWBMVFBTUIF UFYU$POUFOU Q *%-BUUSJCVUFPOUIFFMFNFOU


    BOEPOTFUUJOH NVTUBDUBTJGUIF UFYU$POUFOU Q *%-BUUSJCVUFPOUIFFMFNFOUIBECFFOTFUUPUIFOFXWBMVF

    5IF AJMH *%-BUUSJCVUFTCFIBWJPSEFQFOETPOXIFUIFSUIF PQUJPO Q FMFNFOUJTJOB TFMFDU Q FMFNFOUPSOPU*GUIF


    PQUJPO Q IBTB TFMFDU Q FMFNFOUBTJUTQBSFOU PSIBTB DPMHSPVQ Q FMFNFOUBTJUTQBSFOUBOEUIBU DPMHSPVQ Q
    FMFNFOUIBTB TFMFDU Q FMFNFOUBTJUTQBSFOU UIFOUIF GPSN Q *%-BUUSJCVUFNVTUSFUVSOUIFTBNFWBMVFBTUIF
    GPSN Q *%-BUUSJCVUFPOUIBU TFMFDU Q FMFNFOU0UIFSXJTF JUNVTUSFUVSOOVMM

    4FWFSBMDPOTUSVDUPSTBSFQSPWJEFEGPSDSFBUJOH )5.-0QUJPO&MFNFOU Q PCKFDUT JOBEEJUJPOUPUIFGBDUPSZNFUIPETGSPN


    %0.$PSFTVDIBT DSFBUF&MFNFOU

     -KODJI -KODJIM>QM -KODJIM>QM O:EN> -KODJIM>QM O:EN>


    =>?:NEM1>E><M>= BOE -KODJIM>QM O:EN> =>?:NEM1>E><M>= L>E><M>=8IFOJOWPLFEBTDPOTUSVDUPST UIFTF
    NVTUSFUVSOBOFX )5.-0QUJPO&MFNFOU Q PCKFDU BOFX PQUJPO Q FMFNFOU
    *GUIF C4GC BSHVNFOUJTQSFTFOU UIFOFX
    PCKFDUNVTUIBWFBTJUTPOMZDIJMEB /PEF Q XJUIOPEFUZQF 5&95@/0%& 
    XIPTFEBUBJTUIFWBMVFPGUIBUBSHVNFOU*G
    UIF E0;D4 BSHVNFOUJTQSFTFOU UIFOFXPCKFDUNVTUIBWFB WBMVF Q BUUSJCVUFTFUXJUIUIFWBMVFPGUIFBSHVNFOUBT
    JUTWBMVF*GUIF 3450D;C)4;42C43 BSHVNFOUJTQSFTFOUBOEUSVF UIFOFXPCKFDUNVTUIBWFB TFMFDUFE Q BUUSJCVUFTFU
    XJUIOPWBMVF*GUIF B4;42C43 BSHVNFOUJTQSFTFOUBOEUSVF UIFOFXPCKFDUNVTUIBWFJUT TFMFDUFEOFTT Q TFUUPUSVF
    PUIFSXJTFUIFGPVSUIBSHVNFOUJTBCTFOUPSGBMTF BOEUIF TFMFDUFEOFTT Q NVTUCFTFUUPGBMTF FWFOJGUIF
    3450D;C)4;42C43 BSHVNFOUJTQSFTFOUBOEUSVF5IFFMFNFOUTEPDVNFOUNVTUCFUIF BDUJWFEPDVNFOU Q PGUIF
    CSPXTJOHDPOUFYU Q PGUIF 8JOEPX Q PCKFDUPOXIJDIUIFJOUFSGBDFPCKFDUPGUIFJOWPLFEDPOTUSVDUPSJTGPVOE

       0B? O@SO<M@< ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    *OUFSBDUJWFDPOUFOU Q 
    -JTUFE Q MBCFMBCMF Q TVCNJUUBCMF Q BOE SFTFUUBCMF Q GPSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    5FYU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    BVUPGPDVT Q
    DPMT Q
    EJTBCMFE Q
    GPSN Q
    NBYMFOHUI Q
    OBNF Q

    
    QMBDFIPMEFS Q
    SFBEPOMZ Q
    SFRVJSFE Q
    SPXT Q
    XSBQ Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*2@SOM@<#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO BVUPGPDVT
    BUUSJCVUFVOTJHOFEMPOH DPMT
    BUUSJCVUFCPPMFBO EJTBCMFE
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    BUUSJCVUFMPOH NBY-FOHUI
    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUF%0.4USJOH QMBDFIPMEFS
    BUUSJCVUFCPPMFBO SFBE0OMZ
    BUUSJCVUFCPPMFBO SFRVJSFE
    BUUSJCVUFVOTJHOFEMPOH SPXT
    BUUSJCVUF%0.4USJOH XSBQ

    SFBEPOMZBUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH EFGBVMU7BMVF
    BUUSJCVUF%0.4USJOH WBMVF
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH UFYU-FOHUI

    SFBEPOMZBUUSJCVUFCPPMFBO XJMM7BMJEBUF
    SFBEPOMZBUUSJCVUF 7BMJEJUZ4UBUF WBMJEJUZ
    SFBEPOMZBUUSJCVUF%0.4USJOH WBMJEBUJPO.FTTBHF
    CPPMFBO DIFDL7BMJEJUZ
    
    WPJE TFU$VTUPN7BMJEJUZ JO%0.4USJOHFSSPS
    

    SFBEPOMZBUUSJCVUF /PEF-JTU MBCFMT

    WPJE TFMFDU
    
    BUUSJCVUFVOTJHOFEMPOH TFMFDUJPO4UBSU
    BUUSJCVUFVOTJHOFEMPOH TFMFDUJPO&OE
    WPJE TFU4FMFDUJPO3BOHF JOVOTJHOFEMPOHTUBSU JOVOTJHOFEMPOHFOE
    
    ^

    5IF UFYUBSFB Q FMFNFOU SFQSFTFOUT Q BNVMUJMJOFQMBJOUFYUFEJUDPOUSPM GPSUIFFMFNFOUT L;QP;FO?5IFDPOUFOUT


    PGUIFDPOUSPMSFQSFTFOUUIFDPOUSPMTEFGBVMUWBMVF

    5IF SBXWBMVF Q PGB UFYUBSFB Q DPOUSPMNVTUCFJOJUJBMMZUIFFNQUZTUSJOH

    5IF M@<?JIGT BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q VTFEUPDPOUSPMXIFUIFSUIFUFYUDBOCFFEJUFECZUIFVTFSPSOPU

    IHMNL;CHNP;FC>;NCIH*GUIF SFBEPOMZ Q BUUSJCVUFJTTQFDJИFEPOB UFYUBSFB Q FMFNFOU UIFFMFNFOUJT CBSSFE


    GSPNDPOTUSBJOUWBMJEBUJPO Q 

    " UFYUBSFB Q FMFNFOUJT GON;<F? JGJUJTOFJUIFS EJTBCMFE Q OPSIBTB SFBEPOMZ Q BUUSJCVUFTQFDJИFE

    8IFOB UFYUBSFB Q JT NVUBCMF Q JUT SBXWBMVF Q TIPVMECFFEJUBCMFCZUIFVTFS"OZUJNFUIFVTFSDBVTFTUIF


    FMFNFOUT SBXWBMVF Q UPDIBOHF UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q UIBUCVCCMFTOBNFE
    JOQVU BUUIF UFYUBSFB Q FMFNFOU UIFO CSPBEDBTU GPSNJOQVU FWFOUT Q BUUIF UFYUBSFB Q FMFNFOUT GPSN
    PXOFS Q 6TFSBHFOUTNBZXBJUGPSBTVJUBCMFCSFBLJOUIFVTFSTJOUFSBDUJPOCFGPSFRVFVJOHUIFUBTLGPSFYBNQMF B
    VTFSBHFOUDPVMEXBJUGPSUIFVTFSUPIBWFOPUIJUBLFZGPSNT TPBTUPPOMZИSFUIFFWFOUXIFOUIFVTFSQBVTFT
    JOTUFBEPGDPOUJOVPVTMZGPSFBDILFZTUSPLF

    " UFYUBSFB Q FMFNFOUIBTB >CLNSP;FO?^;A XIJDINVTUCFJOJUJBMMZTFUUPGBMTF BOENVTUCFTFUUPUSVFXIFOFWFS


    UIFVTFSJOUFSBDUTXJUIUIFDPOUSPMJOBXBZUIBUDIBOHFTUIF SBXWBMVF Q 

    8IFOUIF UFYUBSFB Q FMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUFDIBOHFTWBMVF JGUIFFMFNFOUT EJSUZWBMVFЙBH Q JT
    GBMTF UIFOUIFFMFNFOUT SBXWBMVF Q NVTUCFTFUUPUIFWBMVFPGUIFFMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUF

    
    5IF SFTFUBMHPSJUIN Q GPS UFYUBSFB Q FMFNFOUTJTUPTFUUIFFMFNFOUT WBMVF Q UPUIFWBMVFPGUIFFMFNFOUT
    UFYU$POUFOU Q *%-BUUSJCVUF

    5IF >JGN BUUSJCVUFTQFDJИFTUIFFYQFDUFENBYJNVNOVNCFSPGDIBSBDUFSTQFSMJOF*GUIF DPMT Q BUUSJCVUFJT


    TQFDJИFE JUTWBMVFNVTUCFB WBMJEOPOOFHBUJWFJOUFHFS Q HSFBUFSUIBO[FSP *GBQQMZJOHUIF SVMFTGPSQBSTJOHOPO
    OFHBUJWFJOUFHFST Q UPUIFBUUSJCVUFTWBMVFSFTVMUTJOBOVNCFSHSFBUFSUIBO[FSP UIFOUIFFMFNFOUT =B;L;=N?L
    QC>NB JTUIBUWBMVFPUIFSXJTF JUJT

    5IFVTFSBHFOUNBZVTFUIF UFYUBSFB Q FMFNFOUT DIBSBDUFSXJEUI Q BTBIJOUUPUIFVTFSBTUPIPXNBOZ


    DIBSBDUFSTUIFTFSWFSQSFGFSTQFSMJOF FHGPSWJTVBMVTFSBHFOUTCZNBLJOHUIFXJEUIPGUIFDPOUSPMCFUIBUNBOZ
    DIBSBDUFST
    *OWJTVBMSFOEFSJOHT UIFVTFSBHFOUTIPVMEXSBQUIFVTFSTJOQVUJOUIFSFOEFSJOHTPUIBUFBDIMJOFJTOP
    XJEFSUIBOUIJTOVNCFSPGDIBSBDUFST

    5IF MJRN BUUSJCVUFTQFDJИFTUIFOVNCFSPGMJOFTUPTIPX*GUIF SPXT Q BUUSJCVUFJTTQFDJИFE JUTWBMVFNVTUCFB WBMJE


    OPOOFHBUJWFJOUFHFS Q HSFBUFSUIBO[FSP *GBQQMZJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q UPUIFBUUSJCVUFT
    WBMVFSFTVMUTJOBOVNCFSHSFBUFSUIBO[FSP UIFOUIFFMFNFOUT =B;L;=N?LB?CABN JTUIBUWBMVFPUIFSXJTF JUJT

    7JTVBMVTFSBHFOUTTIPVMETFUUIFIFJHIUPGUIFDPOUSPMUPUIFOVNCFSPGMJOFTHJWFOCZ DIBSBDUFSIFJHIU Q 

    5IF RM<K BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q XJUIUXPLFZXPSETBOETUBUFTUIF NJAO LFZXPSEXIJDINBQTUPUIF


    /I@N TUBUF BOEUIF C<M? LFZXPSEXIJDINBQTUPUIF $;L> TUBUF5IF <8BB8=6E0;D43450D;C JTUIF 4PGU Q TUBUF

    *GUIFFMFNFOUT XSBQ Q BUUSJCVUFJTJOUIF )BSE Q TUBUF UIF DPMT Q BUUSJCVUFNVTUCFTQFDJИFE

    5IFFMFNFOUT WBMVF Q JTEFИOFEUPCFUIFFMFNFOUT SBXWBMVF Q XJUIUIFGPMMPXJOHUSBOTGPSNBUJPOBQQMJFE

     3FQMBDFFWFSZPDDVSSFODFPGB6 %$"33*"(&3&563/ $3
    DIBSBDUFSOPUGPMMPXFECZB6 "-*/&
    '&&% -'
    DIBSBDUFS BOEFWFSZPDDVSSFODFPGB6 "-*/&'&&% -'
    DIBSBDUFSOPUQSFDFEFECZB
    6 %$"33*"(&3&563/ $3
    DIBSBDUFS CZBUXPDIBSBDUFSTUSJOHDPOTJTUJOHPGB6 %$"33*"(&
    3&563/6 "-*/&'&&% $3-'
    DIBSBDUFSQBJS

     *GUIFFMFNFOUT XSBQ Q BUUSJCVUFJTJOUIF )BSE Q TUBUF JOTFSU6 %$"33*"(&3&563/6 "-*/&
    '&&% $3-'
    DIBSBDUFSQBJSTJOUPUIFTUSJOHVTJOHB6"EFИOFEBMHPSJUINTPUIBUFBDIMJOFIBTOPNPSFUIBO
    DIBSBDUFSXJEUI Q DIBSBDUFST'PSUIFQVSQPTFTPGUIJTSFRVJSFNFOU MJOFTBSFEFMJNJUFECZUIFTUBSUPGUIF
    TUSJOH UIFFOEPGUIFTUSJOH BOE6 %$"33*"(&3&563/6 "-*/&'&&% $3-'
    DIBSBDUFSQBJST

    5IF H<SG@IBOC BUUSJCVUFJTB GPSNDPOUSPM NBYMFOHUI BUUSJCVUF Q DPOUSPMMFECZUIF UFYUBSFB Q FMFNFOUT EJSUZWBMVF
    ЙBH Q 

    *GUIF UFYUBSFB Q FMFNFOUIBTB NBYJNVNBMMPXFEWBMVFMFOHUI Q UIFOUIFFMFNFOUTDIJMESFONVTUCFTVDIUIBU


    UIF DPEFQPJOUMFOHUI Q PGUIFWBMVFPGUIFFMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUFJTFRVBMUPPSMFTTUIBOUIF
    FMFNFOUT NBYJNVNBMMPXFEWBMVFMFOHUI Q 

    5IF M@LPDM@? BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q 8IFOTQFDJИFE UIFVTFSXJMMCFSFRVJSFEUPFOUFSBWBMVFCFGPSF


    TVCNJUUJOHUIFGPSN

    IHMNL;CHNP;FC>;NCIH*GUIFFMFNFOUIBTJUT SFRVJSFE Q BUUSJCVUFTQFDJИFE BOEUIFFMFNFOUJT NVUBCMF Q BOE


    UIFFMFNFOUT WBMVF Q JTUIFFNQUZTUSJOH UIFOUIFFMFNFOUJT TVЗFSJOHGSPNCFJOHNJTTJOH Q 

    5IF KG<>@CJG?@M BUUSJCVUFSFQSFTFOUTBIJOU BXPSEPSTIPSUQISBTF


    JOUFOEFEUPBJEUIFVTFSXJUIEBUBFOUSZ"IJOU
    DPVMECFBTBNQMFWBMVFPSBCSJFGEFTDSJQUJPOPGUIFFYQFDUFEGPSNBU5IFBUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVF
    UIBUDPOUBJOTOP6 "-*/&'&&% -'
    PS6 %$"33*"(&3&563/ $3
    DIBSBDUFST

    *HM> "HK:EHG@>KABGMHKHMA>K:=OBLHKRM>QM MA> MBME> I :MMKB;NM>BLFHK>:IIKHIKB:M>

    5IF QMBDFIPMEFS Q BUUSJCVUFTIPVMEOPUCFVTFEBTBOBMUFSOBUJWFUPB MBCFM Q 

    6TFSBHFOUTTIPVMEQSFTFOUUIJTIJOUUPUIFVTFS BGUFSIBWJOH TUSJQQFEMJOFCSFBLT Q GSPNJU XIFOUIFFMFNFOUT


    WBMVF Q JTUIFFNQUZTUSJOHBOEUIFDPOUSPMJTOPUGPDVTFE FHCZEJTQMBZJOHJUJOTJEFBCMBOLVOGPDVTFEDPOUSPM
    

    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF UFYUBSFB Q FMFNFOUXJUIJUT GPSNPXOFS Q 5IF OBNF Q
    BUUSJCVUFSFQSFTFOUTUIFFMFNFOUTOBNF5IF EJTBCMFE Q BUUSJCVUFJTVTFEUPNBLFUIFDPOUSPMOPOJOUFSBDUJWFBOEUP
    QSFWFOUJUTWBMVFGSPNCFJOHTVCNJUUFE5IF BVUPGPDVT Q BUUSJCVUFDPOUSPMTGPDVT

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G

    
    M>QM:K>: OTK@
    3FUVSOTUIFTUSJOHUFYUBSFB

    M>QM:K>: Q<GP@
    3FUVSOTUIFDVSSFOUWBMVFPGUIFFMFNFOU
    $BOCFTFU UPDIBOHFUIFWBMVF

    5IF >JGN KG<>@CJG?@M M@LPDM@? MJRN BOE RM<K BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIF
    TBNFOBNF5IF DPMT Q BOE SPXT Q BUUSJCVUFTBSF MJNJUFEUPPOMZOPOOFHBUJWFOVNCFSTHSFBUFSUIBO[FSP Q 5IF
    H<S*@IBOC *%-BUUSJCVUFNVTU SFЙFDU Q UIF NBYMFOHUI Q DPOUFOUBUUSJCVUF MJNJUFEUPPOMZOPOOFHBUJWFOVNCFST Q 
    5IF M@<?-IGT *%-BUUSJCVUFNVTU SFЙFDU Q UIF SFBEPOMZ Q DPOUFOUBUUSJCVUF

    5IF OTK@ *%-BUUSJCVUFNVTUSFUVSOUIFWBMVFUFYUBSFB

    5IF ?@A<PGO4<GP@ *%-BUUSJCVUFNVTUBDUMJLFUIFFMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUF

    5IF Q<GP@ BUUSJCVUFNVTU POHFUUJOH SFUVSOUIFFMFNFOUT SBXWBMVF Q POTFUUJOH JUNVTUTFUUIFFMFNFOUT SBX
    WBMVF Q UPUIFOFXWBMVF

    5IF O@SO*@IBOC *%-BUUSJCVUFNVTUSFUVSOUIF DPEFQPJOUMFOHUI Q PGUIFFMFNFOUT WBMVF Q 

    5IF XJMM7BMJEBUF Q WBMJEJUZ Q BOE WBMJEBUJPO.FTTBHF Q BUUSJCVUFT BOEUIF DIFDL7BMJEJUZ
    Q BOE
    TFU$VTUPN7BMJEJUZ
    Q NFUIPET BSFQBSUPGUIF DPOTUSBJOUWBMJEBUJPO"1* Q 5IF MBCFMT Q BUUSJCVUFQSPWJEFTBMJTU
    PGUIFFMFNFOUT MBCFM Q T5IF TFMFDU
    Q TFMFDUJPO4UBSU Q TFMFDUJPO&OE Q BOE TFU4FMFDUJPO3BOHF
    Q
    NFUIPETBOEBUUSJCVUFTFYQPTFUIFFMFNFOUTUFYUTFMFDUJPO

    )FSFJTBOFYBNQMFPGB UFYUBSFB Q CFJOHVTFEGPSVOSFTUSJDUFEGSFFGPSNUFYUJOQVUJOBGPSN

    Q*GZPVIBWFBOZDPNNFOUT QMFBTFMFUVTLOPXUFYUBSFBDPMT
    OBNFDPNNFOUTUFYUBSFBQ

       0B? F@TB@I ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    *OUFSBDUJWFDPOUFOU Q 
    -JTUFE Q MBCFMBCMF Q TVCNJUUBCMF Q BOE SFTFUUBCMF Q GPSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    BVUPGPDVT Q
    DIBMMFOHF Q
    EJTBCMFE Q
    GPSN Q
    LFZUZQF Q
    OBNF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*)@TB@I#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO BVUPGPDVT
    BUUSJCVUF%0.4USJOH DIBMMFOHF
    BUUSJCVUFCPPMFBO EJTBCMFE
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    BUUSJCVUF%0.4USJOH LFZUZQF
    BUUSJCVUF%0.4USJOH OBNF

    
    SFBEPOMZBUUSJCVUF%0.4USJOH UZQF

    SFBEPOMZBUUSJCVUFCPPMFBO XJMM7BMJEBUF
    SFBEPOMZBUUSJCVUF 7BMJEJUZ4UBUF WBMJEJUZ
    SFBEPOMZBUUSJCVUF%0.4USJOH WBMJEBUJPO.FTTBHF
    CPPMFBO DIFDL7BMJEJUZ
    
    WPJE TFU$VTUPN7BMJEJUZ JO%0.4USJOHFSSPS
    

    SFBEPOMZBUUSJCVUF /PEF-JTU MBCFMT


    ^

    5IF LFZHFO Q FMFNFOU SFQSFTFOUT Q BLFZQBJSHFOFSBUPSDPOUSPM8IFOUIFDPOUSPMTGPSNJTTVCNJUUFE UIFQSJWBUF


    LFZJTTUPSFEJOUIFMPDBMLFZTUPSF BOEUIFQVCMJDLFZJTQBDLBHFEBOETFOUUPUIFTFSWFS

    5IF >C<GG@IB@ BUUSJCVUFNBZCFTQFDJИFE*UTWBMVFXJMMCFQBDLBHFEXJUIUIFTVCNJUUFELFZ

    5IF F@TOTK@ BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q 5IFGPMMPXJOHUBCMFMJTUTUIFLFZXPSETBOETUBUFTGPSUIFBUUSJCVUF


    ǡUIFLFZXPSETJOUIFMFGUDPMVNONBQUPUIFTUBUFTMJTUFEJOUIFDFMMJOUIFTFDPOEDPMVNOPOUIFTBNFSPXBTUIF
    LFZXPSE6TFSBHFOUTBSFOPUSFRVJSFEUPTVQQPSUUIFTFWBMVFT BOENVTUPOMZSFDPHOJ[FWBMVFTXIPTFDPSSFTQPOEJOH
    BMHPSJUINTUIFZTVQQPSU

    '?SQIL> /N;N?

    STB ()

    5IF 8=E0;83E0;D43450D;C TUBUFJTUIF D=:=>F= TUBUF5IF <8BB8=6E0;D43450D;C TUBUFJTUIF () TUBUF JGJUJTTVQQPSUFE
    PSUIF D=:=>F= TUBUFPUIFSXJTF

    *HM> 0ABLLI><B[<:MBHG=H>LGHMLI><B?RPA:MD>RMRI>LNL>K:@>GML:K>MHLNIIHKMWBMBL
    IHLLB;E>?HK:NL>K:@>GMMHGHMLNIIHKM:GRD>RMRI>L:M:EE

    5IFVTFSBHFOUNBZFYQPTFBVTFSJOUFSGBDFGPSFBDI LFZHFO Q FMFNFOUUPBMMPXUIFVTFSUPDPOИHVSFTFUUJOHTPGUIF


    FMFNFOUTLFZQBJSHFOFSBUPS FHUIFLFZMFOHUI

    5IF SFTFUBMHPSJUIN Q GPS LFZHFO Q FMFNFOUTJTUPTFUUIFTFWBSJPVTDPOИHVSBUJPOTFUUJOHTCBDLUPUIFJSEFGBVMUT

    5IFFMFNFOUT WBMVF Q JTUIFTUSJOHSFUVSOFEGSPNUIFGPMMPXJOHBMHPSJUIN

     6TFUIFBQQSPQSJBUFTUFQGSPNUIFGPMMPXJOHMJTU
    K
    X %@NB? F@TOTK@ ;NNLC<ON?CMCHNB? ./ MN;N?
    (FOFSBUFBO34"LFZQBJSVTJOHUIFTFUUJOHTHJWFOCZUIFVTFS JGBQQSPQSJBUF VTJOHUIF
    NE8JUI34"&ODSZQUJPO 34"TJHOBUVSFBMHPSJUIN UIFTJHOBUVSFBMHPSJUINXJUI.%BOEUIF34"
    FODSZQUJPOBMHPSJUIN
    SFGFSFODFEJOTFDUJPO 34"4JHOBUVSF"MHPSJUIN
    PG3'$ BOE
    EFИOFEJO3'$ <3'$> Q <3'$> Q
    K
    X +NB?LQCM?
    NB? F@TOTK@ ;NNLC<ON?CMCHNB? NGDGHPG MN;N?
    5IFHJWFOLFZUZQFJTOPUTVQQPSUFE3FUVSOUIFFNQUZTUSJOHBOEBCPSUUIJTBMHPSJUIN

    -FU ?A8E0C4:4H CFUIFHFOFSBUFEQSJWBUFLFZ

    -FU ?D1;82:4H CFUIFHFOFSBUFEQVCMJDLFZ

    -FU B86=0CDA40;6>A8C7< CFUIFTFMFDUFETJHOBUVSFBMHPSJUIN

     *GUIFFMFNFOUIBTB DIBMMFOHF Q BUUSJCVUF UIFOMFU 270;;4=64 CFUIBUBUUSJCVUFTWBMVF0UIFSXJTF MFU


    270;;4=64 CFUIFFNQUZTUSJOH

     -FU 0;6>A8C7< CFBO"4/ "MHPSJUIN*EFOUJGJFS TUSVDUVSFBTEFИOFECZ3'$ XJUIUIF BMHPSJUIN


    ИFMEHJWJOHUIF"4/0*%VTFEUPJEFOUJGZ B86=0CDA40;6>A8C7< VTJOHUIF0*%TEFИOFEJOTFDUJPO
    4JHOBUVSF"MHPSJUINT
    PG3'$ BOEUIF QBSBNFUFST ИFMETFUVQBTSFRVJSFECZ3'$GPS
    "MHPSJUIN*EFOUJGJFS TUSVDUVSFTGPSUIBUBMHPSJUIN <9> Q <3'$> Q <3'$> Q

    
     -FU B?:8 CFBO"4/ 4VCKFDU1VCMJD,FZ*OGP TUSVDUVSFBTEFИOFECZ3'$ XJUIUIF BMHPSJUIN ИFMETFU
    UPUIF 0;6>A8C7< TUSVDUVSFGSPNUIFQSFWJPVTTUFQ BOEUIF TVCKFDU1VCMJD,FZ ИFMETFUUPUIF#*5453*/(
    WBMVFSFTVMUJOHGSPN"4/%&3FODPEJOHUIF ?D1;82:4H <9> Q <3'$> Q

     -FU ?D1;82!4H=370;;4=64 CFBO"4/ 1VCMJD,FZ"OE$IBMMFOHF Q TUSVDUVSFBTEFИOFECFMPX XJUIUIF


    TQLJ ИFMETFUUPUIF B?:8 TUSVDUVSFGSPNUIFQSFWJPVTTUFQ BOEUIF DIBMMFOHF ИFMETFUUPUIFTUSJOH
    270;;4=64 PCUBJOFEFBSMJFS <9> Q

     -FU B86=0CDA4 CFUIF#*5453*/(WBMVFSFTVMUJOHGSPN"4/%&3FODPEJOHUIFTJHOBUVSFHFOFSBUFECZ


    BQQMZJOHUIF B86=0CDA40;6>A8C7< UPUIFCZUFTUSJOHPCUBJOFECZ"4/%&3FODPEJOHUIF
    ?D1;82!4H=370;;4=64 TUSVDUVSF VTJOH ?A8E0C4:4H BTUIFTJHOJOHLFZ <9> Q

     -FU B86=43&D1;82!4H=370;;4=64 CFBO"4/ 4JHOFE1VCMJD,FZ"OE$IBMMFOHF Q TUSVDUVSFBTEFИOFE


    CFMPX XJUIUIF QVCMJD,FZ"OE$IBMMFOHF ИFMETFUUPUIF ?D1;82!4H=370;;4=64 TUSVDUVSF UIF
    TJHOBUVSF"MHPSJUIN ИFMETFUUPUIF 0;6>A8C7< TUSVDUVSF BOEUIF TJHOBUVSF ИFMETFUUPUIF#*5453*/(
    B86=0CDA4 GSPNUIFQSFWJPVTTUFQ <9> Q

     3FUVSOUIFSFTVMUPGCBTFFODPEJOHUIFSFTVMUPG"4/%&3FODPEJOHUIF B86=43&D1;82!4H=370;;4=64
    TUSVDUVSF <3'$> Q <9> Q

    5IFEBUBPCKFDUTVTFECZUIFBCPWFBMHPSJUINBSFEFИOFEBTGPMMPXT5IFTFEFИOJUJPOTVTFUIFTBNF"4/MJLF
    TZOUBYEFИOFECZ3'$ <3'$> Q

    .P=GD>)@TI?!C<GG@IB@ 4&26&/$&\
    TQLJ 4VCKFDU1VCMJD,FZ*OGP
    DIBMMFOHF*"453*/(
    ^

    1DBI@?.P=GD>)@TI?!C<GG@IB@ 4&26&/$&\
    QVCMJD,FZ"OE$IBMMFOHF 1VCMJD,FZ"OE$IBMMFOHF
    TJHOBUVSF"MHPSJUIN "MHPSJUIN*EFOUJGJFS
    TJHOBUVSF#*5453*/(
    ^

    IHMNL;CHNP;FC>;NCIH5IF LFZHFO Q FMFNFOUJT CBSSFEGSPNDPOTUSBJOUWBMJEBUJPO Q 

    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF LFZHFO Q FMFNFOUXJUIJUT GPSNPXOFS Q 5IF OBNF Q
    BUUSJCVUFSFQSFTFOUTUIFFMFNFOUTOBNF5IF EJTBCMFE Q BUUSJCVUFJTVTFEUPNBLFUIFDPOUSPMOPOJOUFSBDUJWFBOEUP
    QSFWFOUJUTWBMVFGSPNCFJOHTVCNJUUFE5IF BVUPGPDVT Q BUUSJCVUFDPOUSPMTGPDVT

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    D>R@>G OTK@
    3FUVSOTUIFTUSJOHLFZHFO

    5IF >C<GG@IB@ *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF F@TOTK@ *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF MJNJUFEUPPOMZLOPXOWBMVFT Q 

    5IF OTK@ *%-BUUSJCVUFNVTUSFUVSOUIFWBMVFLFZHFO

    5IF XJMM7BMJEBUF Q WBMJEJUZ Q BOE WBMJEBUJPO.FTTBHF Q BUUSJCVUFT BOEUIF DIFDL7BMJEJUZ
    Q BOE
    TFU$VTUPN7BMJEJUZ
    Q NFUIPET BSFQBSUPGUIF DPOTUSBJOUWBMJEBUJPO"1* Q 5IF MBCFMT Q BUUSJCVUFQSPWJEFTBMJTU
    PGUIFFMFNFOUT MBCFM Q T

    *HM> 0ABLLI><B[<:MBHG=H>LGHMLI><B?RAHPMA>IKBO:M>D>R@>G>K:M>=BLMH;>NL>= %MBL


    >QI><M>=MA:M:?M>KK><>BOBG@MA> 1B@G>=.N;EB<)>R G="A:EE>G@> I /,'LMKN<MNK> MA>L>KO>K
    PBEE@>G>K:M>:<EB>GM<>KMB[<:M>:G=HZ>KBM;:<DMHMA>NL>K?HK=HPGEH:=MABL<>KMB[<:M> HG<>
    =HPGEH:=>=:G=LMHK>=BGMA>D>RLMHK>:EHG@PBMAMA>IKBO:M>D>R <:GMA>G;>NL>=MH
    :NMA>GMB<:M>MHL>KOB<>LMA:MNL>//(:G=<>KMB[<:M>:NMA>GMB<:MBHG

    5PHFOFSBUFBLFZQBJS BEEUIFQSJWBUFLFZUPUIFVTFSTLFZTUPSF BOETVCNJUUIFQVCMJDLFZUPUIFTFSWFS


    NBSLVQTVDIBTUIFGPMMPXJOHDBOCFVTFE

    
    GPSNBDUJPOQSPDFTTLFZDHJNFUIPEQPTUFODUZQFNVMUJQBSUGPSNEBUB
    QLFZHFOOBNFLFZQ
    QJOQVUUZQFTVCNJUWBMVF4VCNJULFZQ
    GPSN

    5IFTFSWFSXJMMUIFOSFDFJWFBGPSNTVCNJTTJPOXJUIBQBDLBHFE34"QVCMJDLFZBTUIFWBMVFPGLFZ5IJTDBO
    UIFOCFVTFEGPSWBSJPVTQVSQPTFT TVDIBTHFOFSBUJOHBDMJFOUDFSUJИDBUF BTNFOUJPOFEBCPWF

       0B? JPOKPO ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    -JTUFE Q MBCFMBCMF Q BOE SFTFUUBCMF Q GPSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    GPS Q
    GPSN Q
    OBNF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*-POKPO#G@H@IO  )5.-&MFNFOU \


    <1VU'PSXBSETWBMVF>SFBEPOMZBUUSJCVUF %0.4FUUBCMF5PLFO-JTU IUNM'PS
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    BUUSJCVUF%0.4USJOH OBNF

    SFBEPOMZBUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH EFGBVMU7BMVF
    BUUSJCVUF%0.4USJOH WBMVF

    SFBEPOMZBUUSJCVUFCPPMFBO XJMM7BMJEBUF
    SFBEPOMZBUUSJCVUF 7BMJEJUZ4UBUF WBMJEJUZ
    SFBEPOMZBUUSJCVUF%0.4USJOH WBMJEBUJPO.FTTBHF
    CPPMFBO DIFDL7BMJEJUZ
    
    WPJE TFU$VTUPN7BMJEJUZ JO%0.4USJOHFSSPS
    

    SFBEPOMZBUUSJCVUF /PEF-JTU MBCFMT


    ^

    5IF PVUQVU Q FMFNFOU SFQSFTFOUT Q UIFSFTVMUPGBDBMDVMBUJPO

    5IF AJM DPOUFOUBUUSJCVUFBMMPXTBOFYQMJDJUSFMBUJPOTIJQUPCFNBEFCFUXFFOUIFSFTVMUPGBDBMDVMBUJPOBOEUIF


    FMFNFOUTUIBUSFQSFTFOUUIFWBMVFTUIBUXFOUJOUPUIFDBMDVMBUJPOPSUIBUPUIFSXJTFJOЙVFODFEUIFDBMDVMBUJPO5IF
    GPS Q BUUSJCVUF JGTQFDJИFE NVTUDPOUBJOBTUSJOHDPOTJTUJOHPGBO VOPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFE
    UPLFOT Q FBDIPGXIJDINVTUIBWFUIFWBMVFPGBO*%PGBOFMFNFOUJOUIFTBNF %PDVNFOU Q 

    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF PVUQVU Q FMFNFOUXJUIJUT GPSNPXOFS Q 5IF OBNF Q
    BUUSJCVUFSFQSFTFOUTUIFFMFNFOUTOBNF

    5IFFMFNFOUIBTB P;FO?GI>?^;A XIJDIJTFJUIFS E0;D4 PS 3450D;C*OJUJBMMZ UIF WBMVFNPEFЙBH Q NVTUCFTFUUP


    3450D;C

    8IFOUIF WBMVFNPEFЙBH Q JTJONPEF 3450D;C UIFDPOUFOUTPGUIFFMFNFOUSFQSFTFOUCPUIUIFWBMVFPGUIFFMFNFOU


    BOEJUTEFGBVMUWBMVF8IFOUIF WBMVFNPEFЙBH Q JTJONPEF E0;D4 UIFDPOUFOUTPGUIFFMFNFOUSFQSFTFOUUIFWBMVF
    PGUIFFMFNFOUPOMZ BOEUIFEFGBVMUWBMVFJTPOMZBDDFTTJCMFVTJOHUIF EFGBVMU7BMVF Q *%-BUUSJCVUF

    5IFFMFNFOUBMTPIBTB >?@;OFNP;FO?*OJUJBMMZ UIF EFGBVMUWBMVF Q NVTUCFUIFFNQUZTUSJOH

    
    8IFOFWFSUIFFMFNFOUTEFTDFOEBOUTBSFDIBOHFEJOBOZXBZ JGUIF WBMVFNPEFЙBH Q JTJONPEF 3450D;C UIF
    FMFNFOUT EFGBVMUWBMVF Q NVTUCFTFUUPUIFWBMVFPGUIFFMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUF

    5IF SFTFUBMHPSJUIN Q GPS PVUQVU Q FMFNFOUTJTUPTFUUIFFMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUFUPUIFWBMVFPGUIF
    FMFNFOUT EFGBVMU7BMVF Q *%-BUUSJCVUF UIVTSFQMBDJOHUIFFMFNFOUTDIJMEOPEFT
    BOEUIFOUPTFUUIFFMFNFOUT
    WBMVFNPEFЙBH Q UP 3450D;C

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    HNMINM Q<GP@ 7 O:EN> 8
    3FUVSOTUIFFMFNFOUTDVSSFOUWBMVF
    $BOCFTFU UPDIBOHFUIFWBMVF

    HNMINM ?@A<PGO4<GP@ K 7 O:EN> 8


    3FUVSOTUIFFMFNFOUTDVSSFOUEFGBVMUWBMVF
    $BOCFTFU UPDIBOHFUIFEFGBVMUWBMVF

    HNMINM OTK@ K


    3FUVSOTUIFTUSJOHPVUQVU

    5IF Q<GP@ *%-BUUSJCVUFNVTUBDUMJLFUIFFMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUF FYDFQUUIBUPOTFUUJOH JOBEEJUJPO


    CFGPSFUIFDIJMEOPEFTBSFDIBOHFE UIFFMFNFOUT WBMVFNPEFЙBH Q NVTUCFTFUUP E0;D4

    5IF ?@A<PGO4<GP@ *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFFMFNFOUT EFGBVMUWBMVF Q 0OTFUUJOH UIFBUUSJCVUFNVTU


    TFUUIFFMFNFOUT EFGBVMUWBMVF Q BOE JGUIFFMFNFOUT WBMVFNPEFЙBH Q JTJOUIFNPEF 3450D;C TFUUIFFMFNFOUT
    UFYU$POUFOU Q *%-BUUSJCVUFBTXFMM

    5IF OTK@ BUUSJCVUFNVTUSFUVSOUIFTUSJOHPVUQVU

    5IF COHG$JM *%-BUUSJCVUFNVTU SFЙFDU Q UIF GPS Q DPOUFOUBUUSJCVUF

    5IF XJMM7BMJEBUF Q WBMJEJUZ Q BOE WBMJEBUJPO.FTTBHF Q BUUSJCVUFT BOEUIF DIFDL7BMJEJUZ
    Q BOE
    TFU$VTUPN7BMJEJUZ
    Q NFUIPET BSFQBSUPGUIF DPOTUSBJOUWBMJEBUJPO"1* Q 5IF MBCFMT Q BUUSJCVUFQSPWJEFTBMJTU
    PGUIFFMFNFOUT MBCFM Q T

    IHMNL;CHNP;FC>;NCIH PVUQVU Q FMFNFOUTBSFBMXBZT CBSSFEGSPNDPOTUSBJOUWBMJEBUJPO Q 

    "TJNQMFDBMDVMBUPSDPVMEVTF PVUQVU Q GPSJUTEJTQMBZPGDBMDVMBUFESFTVMUT

    GPSNPOTVCNJUSFUVSOGBMTF
    JOQVUOBNFBUZQFOVNCFSTUFQBOZ
    JOQVUOBNFCUZQFOVNCFSTUFQBOZ
    PVUQVUPOGPSNJOQVUWBMVFBWBMVF CWBMVFPVUQVU
    GPSN

       0B? KMJBM@NN ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    -BCFMBCMF Q GPSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q CVUUIFSFNVTUCFOP QSPHSFTT Q FMFNFOUEFTDFOEBOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    WBMVF Q
    NBY Q
    GPSN Q

    
    +)CHN?L@;=?

    JOUFSGBDF &2+*.MJBM@NN#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFGMPBU WBMVF
    BUUSJCVUFGMPBU NBY
    SFBEPOMZBUUSJCVUFGMPBU QPTJUJPO
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    SFBEPOMZBUUSJCVUF /PEF-JTU MBCFMT
    ^

    5IF QSPHSFTT Q FMFNFOU SFQSFTFOUT Q UIFDPNQMFUJPOQSPHSFTTPGBUBTL5IFQSPHSFTTJTFJUIFSJOEFUFSNJOBUF


    JOEJDBUJOHUIBUQSPHSFTTJTCFJOHNBEFCVUUIBUJUJTOPUDMFBSIPXNVDINPSFXPSLSFNBJOTUPCFEPOFCFGPSFUIFUBTL
    JTDPNQMFUF FHCFDBVTFUIFUBTLJTXBJUJOHGPSBSFNPUFIPTUUPSFTQPOE
    PSUIFQSPHSFTTJTBOVNCFSJOUIFSBOHF
    [FSPUPBNBYJNVN HJWJOHUIFGSBDUJPOPGXPSLUIBUIBTTPGBSCFFODPNQMFUFE

    5IFSFBSFUXPBUUSJCVUFTUIBUEFUFSNJOFUIFDVSSFOUUBTLDPNQMFUJPOSFQSFTFOUFECZUIFFMFNFOU

    5IF Q<GP@ BUUSJCVUFTQFDJИFTIPXNVDIPGUIFUBTLIBTCFFODPNQMFUFE BOEUIF H<S BUUSJCVUFTQFDJИFTIPXNVDI


    XPSLUIFUBTLSFRVJSFTJOUPUBM5IFVOJUTBSFBSCJUSBSZBOEOPUTQFDJИFE

    "VUIPSTBSFFODPVSBHFEUPBMTPJODMVEFUIFDVSSFOUWBMVFBOEUIFNBYJNVNWBMVFJOMJOFBTUFYUJOTJEFUIFFMFNFOU TP
    UIBUUIFQSPHSFTTJTNBEFBWBJMBCMFUPVTFSTPGMFHBDZVTFSBHFOUT

    )FSFJTBTOJQQFUPGB8FCBQQMJDBUJPOUIBUTIPXTUIFQSPHSFTTPGTPNFBVUPNBUFEUBTL

    TFDUJPO
    I5BTL1SPHSFTTI
    Q1SPHSFTTQSPHSFTTJEQNBYTQBOTQBOQSPHSFTTQ
    TDSJQU
    WBSQSPHSFTT#BSEPDVNFOUHFU&MFNFOU#Z*E Q
    
    GVODUJPOVQEBUF1SPHSFTT OFX7BMVF
    \
    QSPHSFTT#BSWBMVFOFX7BMVF
    QSPHSFTT#BSHFU&MFNFOUT#Z5BH/BNF TQBO
    <>UFYU$POUFOUOFX7BMVF
    ^
    TDSJQU
    TFDUJPO

    5IF VQEBUF1SPHSFTT
    NFUIPEJOUIJTFYBNQMFXPVMECFDBMMFECZTPNFPUIFSDPEFPOUIFQBHFUPVQEBUFUIF
    BDUVBMQSPHSFTTCBSBTUIFUBTLQSPHSFTTFE

    5IF WBMVF Q BOE NBY Q BUUSJCVUFT XIFOQSFTFOU NVTUIBWFWBMVFTUIBUBSF WBMJEЙPBUJOHQPJOUOVNCFST Q 5IF
    WBMVF Q BUUSJCVUF JGQSFTFOU NVTUIBWFBWBMVFFRVBMUPPSHSFBUFSUIBO[FSP BOEMFTTUIBOPSFRVBMUPUIFWBMVFPG
    UIF NBY Q BUUSJCVUF JGQSFTFOU PS PUIFSXJTF5IF NBY Q BUUSJCVUF JGQSFTFOU NVTUIBWFBWBMVFHSFBUFSUIBO
    [FSP

    *HM> 0A> IKH@K>LL I >E>F>GMBLMA>PKHG@>E>F>GMMHNL>?HKLHF>MABG@MA:MBLCNLM:@:N@> :L


    HIIHL>=MHM:LDIKH@K>LL "HKBGLM:G<> BG=B<:MBG@=BLDLI:<>NL:@>NLBG@ IKH@K>LL I PHNE=;>
    BG:IIKHIKB:M> %GLM>:= MA> F>M>K I >E>F>GMBL:O:BE:;E>?HKLN<ANL><:L>L

    1M?L;A?HNL?KOCL?G?HNM*GUIF WBMVF Q BUUSJCVUFJTPNJUUFE UIFOUIFQSPHSFTTCBSJTBOJOEFUFSNJOBUFQSPHSFTT


    CBS0UIFSXJTF JUJTBEFUFSNJOBUFQSPHSFTTCBS

    *GUIFQSPHSFTTCBSJTBEFUFSNJOBUFQSPHSFTTCBSBOEUIFFMFNFOUIBTB NBY Q BUUSJCVUF UIFVTFSBHFOUNVTUQBSTF


    UIF NBY Q BUUSJCVUFTWBMVFBDDPSEJOHUPUIF SVMFTGPSQBSTJOHЙPBUJOHQPJOUOVNCFSWBMVFT Q *GUIJTEPFTOPUSFTVMUJO
    BOFSSPS BOEJGUIFQBSTFEWBMVFJTHSFBUFSUIBO[FSP UIFOUIFNBYJNVNWBMVFPGUIFQSPHSFTTCBSJTUIBUWBMVF
    0UIFSXJTF JGUIFFMFNFOUIBTOP NBY Q BUUSJCVUF PSJGJUIBTPOFCVUQBSTJOHJUSFTVMUFEJOBOFSSPS PSJGUIFQBSTFE
    WBMVFXBTMFTTUIBOPSFRVBMUP[FSP UIFOUIFNBYJNVNWBMVFPGUIFQSPHSFTTCBSJT

    *GUIFQSPHSFTTCBSJTBEFUFSNJOBUFQSPHSFTTCBS VTFSBHFOUTNVTUQBSTFUIF WBMVF Q BUUSJCVUFTWBMVFBDDPSEJOHUP


    UIF SVMFTGPSQBSTJOHЙPBUJOHQPJOUOVNCFSWBMVFT Q *GUIJTEPFTOPUSFTVMUJOBOFSSPS BOEJGUIFQBSTFEWBMVFJTMFTT
    UIBOUIFNBYJNVNWBMVFBOEHSFBUFSUIBO[FSP UIFOUIFDVSSFOUWBMVFPGUIFQSPHSFTTCBSJTUIBUQBSTFEWBMVF
    0UIFSXJTF JGUIFQBSTFEWBMVFXBTHSFBUFSUIBOPSFRVBMUPUIFNBYJNVNWBMVF UIFOUIFDVSSFOUWBMVFPGUIFQSPHSFTT
    CBSJTUIFNBYJNVNWBMVFPGUIFQSPHSFTTCBS0UIFSXJTF JGQBSTJOHUIF WBMVF Q BUUSJCVUFTWBMVFSFTVMUFEJOBOFSSPS
    PSBOVNCFSMFTTUIBOPSFRVBMUP[FSP UIFOUIFDVSSFOUWBMVFPGUIFQSPHSFTTCBSJT[FSP

    
    1L?KOCL?G?HNM@ILMBIQCHANB?JLIAL?MM<;L8IFOSFQSFTFOUJOHB QSPHSFTT Q FMFNFOUUPUIFVTFS UIF6"
    TIPVMEJOEJDBUFXIFUIFSJUJTBEFUFSNJOBUFPSJOEFUFSNJOBUFQSPHSFTTCBS BOEJOUIFGPSNFSDBTF TIPVMEJOEJDBUFUIF
    SFMBUJWFQPTJUJPOPGUIFDVSSFOUWBMVFSFMBUJWFUPUIFNBYJNVNWBMVF

    5IF H<S BOE Q<GP@ *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF8IFOUIF


    SFMFWBOUDPOUFOUBUUSJCVUFTBSFBCTFOU UIF*%-BUUSJCVUFTNVTUSFUVSO[FSP

    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF QSPHSFTT Q FMFNFOUXJUIJUT GPSNPXOFS Q 

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    IKH@K>LL KJNDODJI K
    'PSBEFUFSNJOBUFQSPHSFTTCBS POFXJUILOPXODVSSFOUBOENBYJNVNWBMVFT
    SFUVSOTUIFSFTVMUPG
    EJWJEJOHUIFDVSSFOUWBMVFCZUIFNBYJNVNWBMVF
    'PSBOJOEFUFSNJOBUFQSPHSFTTCBS SFUVSOTʐ

    *GUIFQSPHSFTTCBSJTBOJOEFUFSNJOBUFQSPHSFTTCBS UIFOUIF KJNDODJI *%-BUUSJCVUFNVTUSFUVSOʐ0UIFSXJTF JU


    NVTUSFUVSOUIFSFTVMUPGEJWJEJOHUIFDVSSFOUWBMVFCZUIFNBYJNVNWBMVF

    5IF MBCFMT Q BUUSJCVUFQSPWJEFTBMJTUPGUIFFMFNFOUT MBCFM Q T

       0B? H@O@M ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    -BCFMBCMF Q GPSNBTTPDJBUFEFMFNFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q CVUUIFSFNVTUCFOP NFUFS Q FMFNFOUEFTDFOEBOUT

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    WBMVF Q
    NJO Q
    NBY Q
    MPX Q
    IJHI Q
    PQUJNVN Q
    GPSN Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*+@O@M#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFGMPBU WBMVF
    BUUSJCVUFGMPBU NJO
    BUUSJCVUFGMPBU NBY
    BUUSJCVUFGMPBU MPX
    BUUSJCVUFGMPBU IJHI
    BUUSJCVUFGMPBU PQUJNVN
    SFBEPOMZBUUSJCVUF )5.-'PSN&MFNFOU GPSN
    SFBEPOMZBUUSJCVUF /PEF-JTU MBCFMT
    ^

    5IF NFUFS Q FMFNFOU SFQSFTFOUT Q BTDBMBSNFBTVSFNFOUXJUIJOBLOPXOSBOHF PSBGSBDUJPOBMWBMVFGPSFYBNQMF


    EJTLVTBHF UIFSFMFWBODFPGBRVFSZSFTVMU PSUIFGSBDUJPOPGBWPUJOHQPQVMBUJPOUPIBWFTFMFDUFEBQBSUJDVMBS
    DBOEJEBUF

    5IJTJTBMTPLOPXOBTBHBVHF

    
    *HM> 0A> F>M>K I >E>F>GMLAHNE=GHM;>NL>=MHBG=B<:M>IKH@K>LL:LBG:IKH@K>LL;:K "HK
    MA:MKHE> $0)(IKHOB=>L:L>I:K:M> IKH@K>LL I >E>F>GM

    *HM> 0A> F>M>K I >E>F>GM:ELH=H>LGHMK>IK>L>GM:L<:E:KO:EN>H?:K;BMK:KRK:G@>W?HK


    >Q:FIE> BMPHNE=;>PKHG@MHNL>MABLMHK>IHKM:P>B@AM HKA>B@AM NGE>LLMA>K>BL:DGHPG
    F:QBFNFO:EN>

    5IFSFBSFTJYBUUSJCVUFTUIBUEFUFSNJOFUIFTFNBOUJDTPGUIFHBVHFSFQSFTFOUFECZUIFFMFNFOU

    5IF HDI BUUSJCVUFTQFDJИFTUIFMPXFSCPVOEPGUIFSBOHF BOEUIF H<S BUUSJCVUFTQFDJИFTUIFVQQFSCPVOE5IF Q<GP@


    BUUSJCVUFTQFDJИFTUIFWBMVFUPIBWFUIFHBVHFJOEJDBUFBTUIFNFBTVSFEWBMVF

    5IFPUIFSUISFFBUUSJCVUFTDBOCFVTFEUPTFHNFOUUIFHBVHFTSBOHFJOUPMPX NFEJVN BOEIJHIQBSUT BOEUP


    JOEJDBUFXIJDIQBSUPGUIFHBVHFJTUIFPQUJNVNQBSU5IF GJR BUUSJCVUFTQFDJИFTUIFSBOHFUIBUJTDPOTJEFSFEUPCF
    UIFMPXQBSU BOEUIF CDBC BUUSJCVUFTQFDJИFTUIFSBOHFUIBUJTDPOTJEFSFEUPCFUIFIJHIQBSU5IF JKODHPH
    BUUSJCVUFHJWFTUIFQPTJUJPOUIBUJTPQUJNVNJGUIBUJTIJHIFSUIBOUIFIJHIWBMVFUIFOUIJTJOEJDBUFTUIBUUIFIJHIFS
    UIFWBMVF UIFCFUUFSJGJUTMPXFSUIBOUIFMPXNBSLUIFOJUJOEJDBUFTUIBUMPXFSWBMVFTBSFCFUUFS BOEOBUVSBMMZJGJUJT
    JOCFUXFFOUIFOJUJOEJDBUFTUIBUOFJUIFSIJHIOPSMPXWBMVFTBSFHPPE

    ONBILCHAL?KOCL?G?HNM 5IF WBMVF Q BUUSJCVUFNVTUCFTQFDJИFE5IF WBMVF Q NJO Q MPX Q IJHI Q NBY Q
    BOE PQUJNVN Q BUUSJCVUFT XIFOQSFTFOU NVTUIBWFWBMVFTUIBUBSF WBMJEЙPBUJOHQPJOUOVNCFST Q 

    *OBEEJUJPO UIFBUUSJCVUFTWBMVFTBSFGVSUIFSDPOTUSBJOFE

    -FU E0;D4 CFUIF WBMVF Q BUUSJCVUFTOVNCFS

    *GUIF NJO Q BUUSJCVUFBUUSJCVUFJTTQFDJИFE UIFOMFU <8=8<D< CFUIBUBUUSJCVUFTWBMVFPUIFSXJTF MFUJUCF[FSP

    *GUIF NBY Q BUUSJCVUFBUUSJCVUFJTTQFDJИFE UIFOMFU <0G8<D< CFUIBUBUUSJCVUFTWBMVFPUIFSXJTF MFUJUCF

    5IFGPMMPXJOHJOFRVBMJUJFTNVTUIPME BTBQQMJDBCMF

    Ǭ <8=8<D< ˘ E0;D4 ˘ <0G8<D<


    Ǭ <8=8<D< ˘ MPX Q ˘ <0G8<D< JG MPX Q JTTQFDJИFE

    Ǭ <8=8<D< ˘ IJHI Q ˘ <0G8<D< JG IJHI Q JTTQFDJИFE

    Ǭ <8=8<D< ˘ PQUJNVN Q ˘ <0G8<D< JG PQUJNVN Q JTTQFDJИFE

    Ǭ MPX Q ˘ IJHI Q JGCPUI MPX Q BOE IJHI Q BSFTQFDJИFE

    *HM> %?GHFBGBFNFHKF:QBFNFBLLI><B[>= MA>GMA>K:G@>BL:LLNF>=MH;>  :G=MA>O:EN>


    MANLA:LMH;>PBMABGMA:MK:G@>

    "VUIPSTBSFFODPVSBHFEUPJODMVEFBUFYUVBMSFQSFTFOUBUJPOPGUIFHBVHFTTUBUFJOUIFFMFNFOUTDPOUFOUT GPSVTFSTPG
    VTFSBHFOUTUIBUEPOPUTVQQPSUUIF NFUFS Q FMFNFOU

    5IFGPMMPXJOHFYBNQMFTTIPXUISFFHBVHFTUIBUXPVMEBMMCFUISFFRVBSUFSTGVMM

    4UPSBHFTQBDFVTBHFNFUFSWBMVFNBYCMPDLTVTFE PVUPGUPUBM
    NFUFS
    7PUFSUVSOPVUNFUFSWBMVFJNHBMUTSDHSBQIQOHNFUFS
    5JDLFUTTPMENFUFSNJONBYWBMVFNFUFS

    5IFGPMMPXJOHFYBNQMFJTJODPSSFDUVTFPGUIFFMFNFOU CFDBVTFJUEPFTOUHJWFBSBOHF BOETJODFUIFEFGBVMU


    NBYJNVNJT CPUIPGUIFHBVHFTXPVMEFOEVQMPPLJOHNBYFEPVU
    

    Q5IFHSBQFGSVJUQJFIBEBSBEJVTPGNFUFSWBMVFDNNFUFS
    BOEBIFJHIUPGNFUFSWBMVFDNNFUFSQ " 

    *OTUFBE POFXPVMEFJUIFSOPUJODMVEFUIFNFUFSFMFNFOU PSVTFUIFNFUFSFMFNFOUXJUIBEFИOFESBOHFUPHJWF


    UIFEJNFOTJPOTJODPOUFYUDPNQBSFEUPPUIFSQJFT

    Q5IFHSBQFGSVJUQJFIBEBSBEJVTPGDNBOEBIFJHIUPG
    DNQ
    EM
    EU3BEJVTEENFUFSNJONBYWBMVFDNNFUFS
    EU)FJHIUEENFUFSNJONBYWBMVFDNNFUFS
    EM

    5IFSFJTOPFYQMJDJUXBZUPTQFDJGZVOJUTJOUIF NFUFS Q FMFNFOU CVUUIFVOJUTNBZCFTQFDJИFEJOUIF UJUMF Q


    BUUSJCVUFJOGSFFGPSNUFYU

    
    5IFFYBNQMFBCPWFDPVMECFFYUFOEFEUPNFOUJPOUIFVOJUT

    EM
    EU3BEJVTEENFUFSNJONBYWBMVFUJUMFDFOUJNFUFSTDNNFUFS
    EU)FJHIUEENFUFSNJONBYWBMVFUJUMFDFOUJNFUFSTDNNFUFS
    EM

    1M?L;A?HNL?KOCL?G?HNM6TFSBHFOUTNVTUQBSTFUIF NJO Q NBY Q WBMVF Q MPX Q IJHI Q BOE PQUJNVN Q
    BUUSJCVUFTVTJOHUIF SVMFTGPSQBSTJOHЙPBUJOHQPJOUOVNCFSWBMVFT Q 

    6TFSBHFOUTNVTUUIFOVTFBMMUIFTFOVNCFSTUPPCUBJOWBMVFTGPSTJYQPJOUTPOUIFHBVHF BTGPMMPXT 5IFPSEFSJO


    XIJDIUIFTFBSFFWBMVBUFEJTJNQPSUBOU BTTPNFPGUIFWBMVFTSFGFSUPFBSMJFSPOFT

    0B?GCHCGOGP;FO?
    *GUIF NJO Q BUUSJCVUFJTTQFDJИFEBOEBWBMVFDPVMECFQBSTFEPVUPGJU UIFOUIFNJOJNVNWBMVFJTUIBUWBMVF
    0UIFSXJTF UIFNJOJNVNWBMVFJT[FSP

    0B?G;RCGOGP;FO?
    *GUIF NBY Q BUUSJCVUFJTTQFDJИFEBOEBWBMVFDPVMECFQBSTFEPVUPGJU UIFNBYJNVNWBMVFJTUIBUWBMVF
    0UIFSXJTF UIFNBYJNVNWBMVFJT

    *GUIFNBYJNVNWBMVFXPVMECFMFTTUIBOUIFNJOJNVNWBMVF UIFOUIFNBYJNVNWBMVFJTBDUVBMMZUIFTBNFBT
    UIFNJOJNVNWBMVF

    0B?;=NO;FP;FO?
    *GUIF WBMVF Q BUUSJCVUFJTTQFDJИFEBOEBWBMVFDPVMECFQBSTFEPVUPGJU UIFOUIBUWBMVFJTUIFBDUVBMWBMVF
    0UIFSXJTF UIFBDUVBMWBMVFJT[FSP

    *GUIFBDUVBMWBMVFXPVMECFMFTTUIBOUIFNJOJNVNWBMVF UIFOUIFBDUVBMWBMVFJTBDUVBMMZUIFTBNFBTUIF
    NJOJNVNWBMVF

    *G POUIFPUIFSIBOE UIFBDUVBMWBMVFXPVMECFHSFBUFSUIBOUIFNBYJNVNWBMVF UIFOUIFBDUVBMWBMVFJTUIF


    NBYJNVNWBMVF

    0B?FIQ<IOH>;LS
    *GUIF MPX Q BUUSJCVUFJTTQFDJИFEBOEBWBMVFDPVMECFQBSTFEPVUPGJU UIFOUIFMPXCPVOEBSZJTUIBUWBMVF
    0UIFSXJTF UIFMPXCPVOEBSZJTUIFTBNFBTUIFNJOJNVNWBMVF

    *GUIFMPXCPVOEBSZJTUIFOMFTTUIBOUIFNJOJNVNWBMVF UIFOUIFMPXCPVOEBSZJTBDUVBMMZUIFTBNFBTUIF
    NJOJNVNWBMVF4JNJMBSMZ JGUIFMPXCPVOEBSZJTHSFBUFSUIBOUIFNBYJNVNWBMVF UIFOJUJTBDUVBMMZUIF
    NBYJNVNWBMVFJOTUFBE

    0B?BCAB<IOH>;LS
    *GUIF IJHI Q BUUSJCVUFJTTQFDJИFEBOEBWBMVFDPVMECFQBSTFEPVUPGJU UIFOUIFIJHICPVOEBSZJTUIBUWBMVF
    0UIFSXJTF UIFIJHICPVOEBSZJTUIFTBNFBTUIFNBYJNVNWBMVF

    *GUIFIJHICPVOEBSZJTUIFOMFTTUIBOUIFMPXCPVOEBSZ UIFOUIFIJHICPVOEBSZJTBDUVBMMZUIFTBNFBTUIFMPX
    CPVOEBSZ4JNJMBSMZ JGUIFIJHICPVOEBSZJTHSFBUFSUIBOUIFNBYJNVNWBMVF UIFOJUJTBDUVBMMZUIFNBYJNVN
    WBMVFJOTUFBE

    0B?IJNCGOGJICHN
    *GUIF PQUJNVN Q BUUSJCVUFJTTQFDJИFEBOEBWBMVFDPVMECFQBSTFEPVUPGJU UIFOUIFPQUJNVNQPJOUJTUIBU
    WBMVF0UIFSXJTF UIFPQUJNVNQPJOUJTUIFNJEQPJOUCFUXFFOUIFNJOJNVNWBMVFBOEUIFNBYJNVNWBMVF

    *GUIFPQUJNVNQPJOUJTUIFOMFTTUIBOUIFNJOJNVNWBMVF UIFOUIFPQUJNVNQPJOUJTBDUVBMMZUIFTBNFBTUIF
    NJOJNVNWBMVF4JNJMBSMZ JGUIFPQUJNVNQPJOUJTHSFBUFSUIBOUIFNBYJNVNWBMVF UIFOJUJTBDUVBMMZUIF
    NBYJNVNWBMVFJOTUFBE

    "MMPGXIJDIXJMMSFTVMUJOUIFGPMMPXJOHJOFRVBMJUJFTBMMCFJOHUSVF

    Ǭ NJOJNVNWBMVF˘BDUVBMWBMVF˘NBYJNVNWBMVF
    Ǭ NJOJNVNWBMVF˘MPXCPVOEBSZ˘IJHICPVOEBSZ˘NBYJNVNWBMVF
    Ǭ NJOJNVNWBMVF˘PQUJNVNQPJOU˘NBYJNVNWBMVF

    1L?KOCL?G?HNM@ILL?ACIHMI@NB?A;OA?*GUIFPQUJNVNQPJOUJTFRVBMUPUIFMPXCPVOEBSZPSUIFIJHI
    CPVOEBSZ PSBOZXIFSFJOCFUXFFOUIFN UIFOUIFSFHJPOCFUXFFOUIFMPXBOEIJHICPVOEBSJFTPGUIFHBVHFNVTUCF
    USFBUFEBTUIFPQUJNVNSFHJPO BOEUIFMPXBOEIJHIQBSUT JGBOZ NVTUCFUSFBUFEBTTVCPQUJNBM0UIFSXJTF JGUIF
    PQUJNVNQPJOUJTMFTTUIBOUIFMPXCPVOEBSZ UIFOUIFSFHJPOCFUXFFOUIFNJOJNVNWBMVFBOEUIFMPXCPVOEBSZNVTU
    CFUSFBUFEBTUIFPQUJNVNSFHJPO UIFSFHJPOCFUXFFOUIFMPXCPVOEBSZBOEUIFIJHICPVOEBSZNVTUCFUSFBUFEBTB

    
    TVCPQUJNBMSFHJPO BOEUIFSFHJPOCFUXFFOUIFIJHICPVOEBSZBOEUIFNBYJNVNWBMVFNVTUCFUSFBUFEBTBOFWFO
    MFTTHPPESFHJPO'JOBMMZ JGUIFPQUJNVNQPJOUJTIJHIFSUIBOUIFIJHICPVOEBSZ UIFOUIFTJUVBUJPOJTSFWFSTFEUIF
    SFHJPOCFUXFFOUIFIJHICPVOEBSZBOEUIFNBYJNVNWBMVFNVTUCFUSFBUFEBTUIFPQUJNVNSFHJPO UIFSFHJPO
    CFUXFFOUIFIJHICPVOEBSZBOEUIFMPXCPVOEBSZNVTUCFUSFBUFEBTBTVCPQUJNBMSFHJPO BOEUIFSFNBJOJOHSFHJPO
    CFUXFFOUIFMPXCPVOEBSZBOEUIFNJOJNVNWBMVFNVTUCFUSFBUFEBTBOFWFOMFTTHPPESFHJPO

    1L?KOCL?G?HNM@ILMBIQCHANB?A;OA?8IFOSFQSFTFOUJOHB NFUFS Q FMFNFOUUPUIFVTFS UIF6"TIPVME


    JOEJDBUFUIFSFMBUJWFQPTJUJPOPGUIFBDUVBMWBMVFUPUIFNJOJNVNBOENBYJNVNWBMVFT BOEUIFSFMBUJPOTIJQCFUXFFO
    UIFBDUVBMWBMVFBOEUIFUISFFSFHJPOTPGUIFHBVHF

    5IFGPMMPXJOHNBSLVQ

    I4VHHFTUFEHSPVQTI
    NFOVUZQFUPPMCBS
    BISFG DNEITHPODMJDLIJEF4VHHFTUFE(SPVQT
    )JEFTVHHFTUFEHSPVQTB
    NFOV
    VM
    MJ
    QBISFGHSPVQDPNQJOGPTZTUFNTXXXBVUIPSJOHTUZMFTIFFUT
    WJFXDPNQJOGPTZTUFNTXXXBVUIPSJOHTUZMFTIFFUTB
    BISFGHSPVQDPNQJOGPTZTUFNTXXXBVUIPSJOHTUZMFTIFFUTTVCTDSJCFKPJOBQ
    Q(SPVQEFTDSJQUJPOTUSPOH-BZPVUQSFTFOUBUJPOPOUIF888TUSPOHQ
    QH@O@MQ<GP@ +J?@M<O@<>ODQDOT H@O@M 6TFOFU TVCTDSJCFSTQ
    MJ
    MJ
    QBISFGHSPVQOFUTDBQFQVCMJDNP[JMMBYQJOTUBMM
    WJFXOFUTDBQFQVCMJDNP[JMMBYQJOTUBMMB
    BISFGHSPVQOFUTDBQFQVCMJDNP[JMMBYQJOTUBMMTVCTDSJCFKPJOBQ
    Q(SPVQEFTDSJQUJPOTUSPOH.P[JMMB91*OTUBMMEJTDVTTJPOTUSPOHQ
    QH@O@MQ<GP@ *JR<>ODQDOT H@O@M 6TFOFU TVCTDSJCFSTQ
    MJ
    MJ
    QBISFGHSPVQNP[JMMBEFWHFOFSBMWJFXNP[JMMBEFWHFOFSBMB
    BISFGHSPVQNP[JMMBEFWHFOFSBMTVCTDSJCFKPJOBQ
    QH@O@MQ<GP@ *JR<>ODQDOT H@O@M 6TFOFU TVCTDSJCFSTQ
    MJ
    VM

    .JHIUCFSFOEFSFEBTGPMMPXT

    6TFSBHFOUT NBZ DPNCJOFUIFWBMVFPGUIF UJUMF Q BUUSJCVUFBOEUIFPUIFSBUUSJCVUFTUPQSPWJEFDPOUFYUTFOTJUJWFIFMQ


    PSJOMJOFUFYUEFUBJMJOHUIFBDUVBMWBMVFT

    'PSFYBNQMF UIFGPMMPXJOHTOJQQFU

    NFUFSNJONBYWBMVFUJUMFTFDPOETNFUFS

    NJHIUDBVTFUIFVTFSBHFOUUPEJTQMBZBHBVHFXJUIBUPPMUJQTBZJOH7BMVFPVUPGPOPOFMJOFBOE
    TFDPOETPOBTFDPOEMJOF

    5IF GPSN Q BUUSJCVUFJTVTFEUPFYQMJDJUMZBTTPDJBUFUIF NFUFS Q FMFNFOUXJUIJUT GPSNPXOFS Q 

    5IF HDI H<S Q<GP@ GJR CDBC BOE JKODHPH *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIF
    TBNFOBNF8IFOUIFSFMFWBOUDPOUFOUBUUSJCVUFTBSFBCTFOU UIF*%-BUUSJCVUFTNVTUSFUVSO[FSP

    
    5IF MBCFMT Q BUUSJCVUFQSPWJEFTBMJTUPGUIFFMFNFOUT MBCFM Q T

    5IFGPMMPXJOHFYBNQMFTIPXTIPXBHBVHFDPVMEGBMMCBDLUPMPDBMJ[FEPSQSFUUZQSJOUFEUFYU

    Q%JTLVTBHFNFUFSNJOWBMVFNBY  CZUFTVTFE


    PVUPG  CZUFTBWBJMBCMFNFUFSQ

       MMI=C;NCIHI@=IHNLIFM;H>@ILGM

    " GPSNBTTPDJBUFEFMFNFOU Q DBOIBWFBSFMBUJPOTIJQXJUIB GPSN Q FMFNFOU XIJDIJTDBMMFEUIFFMFNFOUT @ILG


    IQH?L*GB GPSNBTTPDJBUFEFMFNFOU Q JTOPUBTTPDJBUFEXJUIB GPSN Q FMFNFOU JUT GPSNPXOFS Q JTTBJEUPCFOVMM

    " GPSNBTTPDJBUFEFMFNFOU Q JT CZEFGBVMU BTTPDJBUFEXJUIJUTOFBSFTUBODFTUPS GPSN Q FMFNFOU BTEFTDSJCFE


    CFMPX
    CVUNBZIBWFB AJMH BUUSJCVUFTQFDJИFEUPPWFSSJEFUIJT

    *GB GPSNBTTPDJBUFEFMFNFOU Q IBTB GPSN Q BUUSJCVUFTQFDJИFE UIFOJUTWBMVFNVTUCFUIF*%PGB GPSN Q FMFNFOU
    JOUIFFMFNFOUTPXOFS %PDVNFOU Q 

    8IFOB GPSNBTTPDJBUFEFMFNFOU Q JTDSFBUFE JUT GPSNPXOFS Q NVTUCFJOJUJBMJ[FEUPOVMM OPPXOFS


    

    8IFOB GPSNBTTPDJBUFEFMFNFOU Q JTUPCF ;MMI=C;N?> XJUIBGPSN JUT GPSNPXOFS Q NVTUCFTFUUPUIBUGPSN

    8IFOB GPSNBTTPDJBUFEFMFNFOU Q TBODFTUPSDIBJODIBOHFT FHCFDBVTFJUPSPOFPGJUTBODFTUPSTXBT JOTFSUFE Q


    PS SFNPWFE Q GSPNB %PDVNFOU Q UIFOUIFVTFSBHFOUNVTU SFTFUUIFGPSNPXOFS Q PGUIBUFMFNFOU

    8IFOB GPSNBTTPDJBUFEFMFNFOU Q T GPSN Q BUUSJCVUFJTBEEFE SFNPWFE PSIBTJUTWBMVFDIBOHFE UIFOUIFVTFS


    BHFOUNVTU SFTFUUIFGPSNPXOFS Q PGUIBUFMFNFOU

    8IFOB GPSNBTTPDJBUFEFMFNFOU Q IBTB GPSN Q BUUSJCVUFBOEUIF*%PGBOZPGUIFFMFNFOUTJOUIF %PDVNFOU Q


    DIBOHFT UIFOUIFVTFSBHFOUNVTU SFTFUUIFGPSNPXOFS Q PGUIBU GPSNBTTPDJBUFEFMFNFOU Q 

    8IFOB GPSNBTTPDJBUFEFMFNFOU Q IBTB GPSN Q BUUSJCVUFBOEBOFMFNFOUXJUIBO*%JT JOTFSUFEJOUP Q PS SFNPWFE
    GSPN Q UIF %PDVNFOU Q UIFOUIFVTFSBHFOUNVTU SFTFUUIFGPSNPXOFS Q PGUIBU GPSNBTTPDJBUFEFMFNFOU Q 

    8IFOUIFVTFSBHFOUJTUP L?M?NNB?@ILGIQH?L PGB GPSNBTTPDJBUFEFMFNFOU Q JUNVTUSVOUIFGPMMPXJOHTUFQT

     *GUIFFMFNFOUT GPSNPXOFS Q JTOPUOVMM BOEUIFFMFNFOUT GPSN Q DPOUFOUBUUSJCVUFJTOPUQSFTFOU BOE


    UIFFMFNFOUT GPSNPXOFS Q JTJUTOFBSFTU GPSN Q FMFNFOUBODFTUPSBGUFSUIFDIBOHFUPUIFBODFTUPSDIBJO
    UIFOEPOPUIJOH BOEBCPSUUIFTFTUFQT

     -FUUIFFMFNFOUT GPSNPXOFS Q CFOVMM

     *GUIFFMFNFOUIBTB GPSN Q DPOUFOUBUUSJCVUF UIFOSVOUIFTFTVCTUFQT

     *GUIFИSTUFMFNFOU JOUIF %PDVNFOU Q UPIBWFBO*%UIBUJT DBTFTFOTJUJWFMZ Q FRVBMUPUIF


    FMFNFOUT GPSN Q DPOUFOUBUUSJCVUFTWBMVFJTB GPSN Q FMFNFOU UIFO BTTPDJBUF Q UIF GPSN
    BTTPDJBUFEFMFNFOU Q XJUIUIBU GPSN Q FMFNFOU

     "CPSUUIFSFTFUUIFGPSNPXOFSTUFQT

     0UIFSXJTF JGUIF GPSNBTTPDJBUFEFMFNFOU Q JORVFTUJPOIBTBOBODFTUPS GPSN Q FMFNFOU UIFO


    BTTPDJBUF Q UIF GPSNBTTPDJBUFEFMFNFOU Q XJUIUIFOFBSFTUTVDIBODFTUPS GPSN Q FMFNFOU

     0UIFSXJTF UIFFMFNFOUJTMFGUVOBTTPDJBUFE

    *OUIFGPMMPXJOHOPODPOGPSNJOHTOJQQFU

    
    GPSNJEB
    EJWJECEJW
    GPSN
    TDSJQU
    EPDVNFOUHFU&MFNFOU#Z*E C
    JOOFS)5.-
    UBCMFUSUEGPSNJEDJOQVUJEEUBCMF
    JOQVUJEF
    TDSJQU
    

    
    5IF GPSNPXOFS Q PGEXPVMECFUIFJOOFSOFTUFEGPSND XIJMFUIF GPSNPXOFS Q PGFXPVMECFUIFPVUFS
    GPSNB

    5IJTJTCFDBVTFEFTQJUFUIFBTTPDJBUJPOPGFXJUIDJOUIF )5.-QBSTFS Q XIFOUIF JOOFS)5.- Q BMHPSJUIN


    NPWFTUIFOPEFTGSPNUIFUFNQPSBSZEPDVNFOUUPUIFCFMFNFOU UIFOPEFTTFFUIFJSBODFTUPSDIBJODIBOHF
    BOEUIVTBMMUIFNBHJDBTTPDJBUJPOTEPOFCZUIFQBSTFSBSFSFTFUUPOPSNBMBODFTUPSBTTPDJBUJPOT

    5IJTFYBNQMFJTBOPODPOGPSNJOHEPDVNFOU UIPVHI BTJUJTBWJPMBUJPOPGUIFDPOUFOUNPEFMTUPOFTU GPSN Q


    FMFNFOUT

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >E>F>GM AJMH
    3FUVSOTUIFFMFNFOUT GPSNPXOFS Q 
    3FUVSOTOVMMJGUIFSFJTOUPOF

    'PSNBTTPDJBUFEFMFNFOUT Q IBWFB AJMH *%-BUUSJCVUF XIJDI POHFUUJOH NVTUSFUVSOUIFFMFNFOUT GPSNPXOFS Q
    PSOVMMJGUIFSFJTOUPOF

       NNLC<ON?M=IGGIHNI@ILG=IHNLIFM
        *;GCHA@ILG=IHNLIFM

    5IF I<H@ DPOUFOUBUUSJCVUFHJWFTUIFOBNFPGUIFGPSNDPOUSPM BTVTFEJO GPSNTVCNJTTJPO Q BOEJOUIF GPSN Q


    FMFNFOUT FMFNFOUT Q PCKFDU*GUIFBUUSJCVUFJTTQFDJИFE JUTWBMVFNVTUOPUCFUIFFNQUZTUSJOH

    5IF I<H@ *%-BUUSJCVUFNVTU SFЙFDU Q UIF OBNF Q DPOUFOUBUUSJCVUF

        !H;<FCHA;H>>CM;<FCHA@ILG=IHNLIFM

    5IF ?DN<=G@? DPOUFOUBUUSJCVUFJTB CPPMFBOBUUSJCVUF Q 

    "GPSNDPOUSPMJT >CM;<F?> JGJUT EJTBCMFE Q BUUSJCVUFJTTFU PSJGJUJTBEFTDFOEBOUPGB GJFMETFU Q FMFNFOUXIPTF
    EJTBCMFE Q BUUSJCVUFJTTFUBOEJT =>C BEFTDFOEBOUPGUIBU GJFMETFU Q FMFNFOUTИSTU MFHFOE Q FMFNFOUDIJME JG
    BOZ

    "GPSNDPOUSPMUIBUJT EJTBCMFE Q NVTUQSFWFOUBOZ DMJDL Q FWFOUTUIBUBSF RVFVFE Q POUIF VTFSJOUFSBDUJPOUBTL
    TPVSDF Q GSPNCFJOHEJTQBUDIFEPOUIFFMFNFOU

    IHMNL;CHNP;FC>;NCIH*GBOFMFNFOUJT EJTBCMFE Q JUJT CBSSFEGSPNDPOTUSBJOUWBMJEBUJPO Q 

    5IF ?DN<=G@? *%-BUUSJCVUFNVTU SFЙFDU Q UIF EJTBCMFE Q DPOUFOUBUUSJCVUF

        @ILG=IHNLIFMP;FO?

    'PSNDPOUSPMTIBWFB P;FO? BOEB =B?=E?>H?MM 5IFMBUUFSJTPOMZVTFECZ JOQVU Q FMFNFOUT


    5IFTFBSFVTFEUP
    EFTDSJCFIPXUIFVTFSJOUFSBDUTXJUIUIFDPOUSPM

        ONI@I=OMCHA;@ILG=IHNLIF

    5IF <POJAJ>PN DPOUFOUBUUSJCVUFBMMPXTUIFVTFSUPJOEJDBUFUIBUBDPOUSPMJTUPCFGPDVTFEBTTPPOBTUIFQBHFJT


    MPBEFE BMMPXJOHUIFVTFSUPKVTUTUBSUUZQJOHXJUIPVUIBWJOHUPNBOVBMMZGPDVTUIFNBJODPOUSPM

    5IF BVUPGPDVT Q BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q 

    5IFSFNVTUOPUCFNPSFUIBOPOFFMFNFOUJOUIFEPDVNFOUXJUIUIF BVUPGPDVT Q BUUSJCVUFTQFDJИFE

    8IFOFWFSBOFMFNFOUXJUIUIF BVUPGPDVT Q BUUSJCVUFTQFDJИFEJT JOTFSUFEJOUPBEPDVNFOU Q XIPTF CSPXTJOH


    DPOUFYU Q EJEOPUIBWFUIF TBOECPYFEBVUPNBUJDGFBUVSFTCSPXTJOHDPOUFYUЙBH Q TFUXIFOUIF %PDVNFOU Q XBT
    DSFBUFE UIFVTFSBHFOUTIPVME RVFVFBUBTL Q UIBUDIFDLTUPTFFJGUIFFMFNFOUJT GPDVTBCMF Q BOEJGTP SVOTUIF
    GPDVTJOHTUFQT Q GPSUIBUFMFNFOU6TFSBHFOUTNBZBMTPDIBOHFUIFTDSPMMJOHQPTJUJPOPGUIFEPDVNFOU PSQFSGPSN
    TPNFPUIFSBDUJPOUIBUCSJOHTUIFFMFNFOUUPUIFVTFSTBUUFOUJPO5IF UBTLTPVSDF Q GPSUIJTUBTLJTUIF %0.
    NBOJQVMBUJPOUBTLTPVSDF Q 

    
    6TFSBHFOUTNBZJHOPSFUIJTBUUSJCVUFJGUIFVTFSIBTJOEJDBUFE GPSFYBNQMF CZTUBSUJOHUPUZQFJOBGPSNDPOUSPM
    UIBU
    IFEPFTOPUXJTIGPDVTUPCFDIBOHFE

    *HM> "H<NLBG@MA><HGMKHE=H>LGHMBFIERMA:MMA>NL>K:@>GMFNLM?H<NLMA>;KHPL>KPBG=HPB?BM
    A:LEHLM?H<NL

    5IF <POJAJ>PN *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    *OUIFGPMMPXJOHTOJQQFU UIFUFYUDPOUSPMXPVMECFGPDVTFEXIFOUIFEPDVNFOUXBTMPBEFE

    JOQVUNBYMFOHUIOBNFRWBMVFBVUPGPDVT
    JOQVUUZQFTVCNJUWBMVF4FBSDI

        (CGCNCHAOM?LCHJONF?HANB

    " @ILG=IHNLIF H<SG@IBOC ;NNLC<ON? DPOUSPMMFECZB 38ACHE0;D4Q06 EFDMBSFTBMJNJUPOUIFOVNCFSPGDIBSBDUFSTB


    VTFSDBOJOQVU

    *GBOFMFNFOUIBTJUT GPSNDPOUSPM NBYMFOHUI BUUSJCVUF Q TQFDJИFE UIFBUUSJCVUFTWBMVFNVTUCFB WBMJEOPOOFHBUJWF


    JOUFHFS Q *GUIFBUUSJCVUFJTTQFDJИFEBOEBQQMZJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q UPJUTWBMVFSFTVMUTJO
    BOVNCFS UIFOUIBUOVNCFSJTUIFFMFNFOUT G;RCGOG;FFIQ?>P;FO?F?HANB*GUIFBUUSJCVUFJTPNJUUFEPSQBSTJOH
    JUTWBMVFSFTVMUTJOBOFSSPS UIFOUIFSFJTOP NBYJNVNBMMPXFEWBMVFMFOHUI Q 

    IHMNL;CHNP;FC>;NCIH*GBOFMFNFOUIBTB NBYJNVNBMMPXFEWBMVFMFOHUI Q BOEJUT 38ACHE0;D4Q06 JTUSVF BOEUIF


    DPEFQPJOUMFOHUI Q PGUIFFMFNFOUT WBMVF Q JTHSFBUFSUIBOUIFFMFNFOUT NBYJNVNBMMPXFEWBMVFMFOHUI Q UIFO
    UIFFMFNFOUJT TVЗFSJOHGSPNCFJOHUPPMPOH Q 

    6TFSBHFOUTNBZQSFWFOUUIFVTFSGSPNDBVTJOHUIFFMFNFOUT WBMVF Q UPCFTFUUPBWBMVFXIPTF DPEFQPJOU


    MFOHUI Q JTHSFBUFSUIBOUIFFMFNFOUT NBYJNVNBMMPXFEWBMVFMFOHUI Q 

        "ILGMO<GCMMCIH

    NNLC<ON?M@IL@ILGMO<GCMMCIH DBOCFTQFDJИFECPUIPO GPSN Q FMFNFOUTBOEPO TVCNJUCVUUPOT Q FMFNFOUT


    UIBUSFQSFTFOUCVUUPOTUIBUTVCNJUGPSNT FHBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 4VCNJU
    #VUUPO Q TUBUF
    

    5IF BUUSJCVUFTGPSGPSNTVCNJTTJPO Q UIBUNBZCFTQFDJИFEPO GPSN Q FMFNFOUTBSF BDUJPO Q FODUZQF Q
    NFUIPE Q OPWBMJEBUF Q BOE UBSHFU Q 

    5IFDPSSFTQPOEJOH BUUSJCVUFTGPSGPSNTVCNJTTJPO Q UIBUNBZCFTQFDJИFEPO TVCNJUCVUUPOT Q BSF GPSNBDUJPO Q


    GPSNFODUZQF Q GPSNNFUIPE Q GPSNOPWBMJEBUF Q BOE GPSNUBSHFU Q 8IFOPNJUUFE UIFZEFGBVMUUPUIFWBMVFT
    HJWFOPOUIFDPSSFTQPOEJOHBUUSJCVUFTPOUIF GPSN Q FMFNFOU

    5IF <>ODJI BOE AJMH<>ODJI DPOUFOUBUUSJCVUFT JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJE63- Q 

    5IF ;=NCIH PGBOFMFNFOUJTUIFWBMVFPGUIFFMFNFOUT GPSNBDUJPO Q BUUSJCVUF JGUIFFMFNFOUJTB TVCNJUCVUUPO Q


    BOEIBTTVDIBOBUUSJCVUF PSUIFWBMVFPGJUT GPSNPXOFS Q T BDUJPO Q BUUSJCVUF JG 8C IBTPOF PSFMTFUIFFNQUZ
    TUSJOH

    5IF H@OCJ? BOE AJMHH@OCJ? DPOUFOUBUUSJCVUFTBSF FOVNFSBUFEBUUSJCVUFT Q XJUIUIFGPMMPXJOHLFZXPSETBOETUBUFT

    Ǭ 5IFLFZXPSE %#2 NBQQJOHUPUIFTUBUF #!0 JOEJDBUJOHUIF)551(&5NFUIPE

    Ǭ 5IFLFZXPSE .-12 NBQQJOHUPUIFTUBUF ,+/0 JOEJDBUJOHUIF)5511045NFUIPE

    Ǭ 5IFLFZXPSE .32 NBQQJOHUPUIFTUBUF ,10 JOEJDBUJOHUIF)551165NFUIPE

    Ǭ 5IFLFZXPSE "#*#2# NBQQJOHUPUIFTUBUF !(!0! JOEJDBUJOHUIF)551%&-&5&NFUIPE

    5IF <8BB8=6E0;D43450D;C GPSUIFTFBUUSJCVUFTJTUIF (&5 Q TUBUF

    5IF G?NBI> PGBOFMFNFOUJTPOFPGUIPTFGPVSTUBUFT*GUIFFMFNFOUJTB TVCNJUCVUUPO Q BOEIBTB GPSNNFUIPE Q


    BUUSJCVUF UIFOUIFFMFNFOUT NFUIPE Q JTUIBUBUUSJCVUFTTUBUFPUIFSXJTF JUJTUIF GPSNPXOFS Q T NFUIPE Q
    BUUSJCVUFTTUBUF

    
    5IF @I>OTK@ BOE AJMH@I>OTK@ DPOUFOUBUUSJCVUFTBSF FOVNFSBUFEBUUSJCVUFT Q XJUIUIFGPMMPXJOHLFZXPSETBOE
    TUBUFT

    Ǭ 5IF<KKGD><ODJIS RRR AJMH PMG@I>J?@?LFZXPSEBOEDPSSFTQPOEJOHTUBUF

    Ǭ 5IFHPGODK<MOAJMH ?<O<LFZXPSEBOEDPSSFTQPOEJOHTUBUF

    Ǭ 5IFO@SOKG<DILFZXPSEBOEDPSSFTQPOEJOHTUBUF

    5IF <8BB8=6E0;D43450D;C GPSUIFTFBUUSJCVUFTJTUIF BQQMJDBUJPOYXXXGPSNVSMFODPEFE Q TUBUF

    5IF ?H=NSJ? PGBOFMFNFOUJTPOFPGUIPTFUISFFTUBUFT*GUIFFMFNFOUJTB TVCNJUCVUUPO Q BOEIBTB


    GPSNFODUZQF Q BUUSJCVUF UIFOUIFFMFNFOUT FODUZQF Q JTUIBUBUUSJCVUFTTUBUFPUIFSXJTF JUJTUIF GPSNPXOFS Q T
    FODUZQF Q BUUSJCVUFTTUBUF

    5IF O<MB@O BOE AJMHO<MB@O DPOUFOUBUUSJCVUFT JGTQFDJИFE NVTUIBWFWBMVFTUIBUBSF WBMJECSPXTJOHDPOUFYUOBNFT


    PSLFZXPSET Q 

    5IF N;LA?N PGBOFMFNFOUJTUIFWBMVFPGUIFFMFNFOUT GPSNUBSHFU Q BUUSJCVUF JGUIFFMFNFOUJTB TVCNJUCVUUPO Q


    BOEIBTTVDIBOBUUSJCVUFPSUIFWBMVFPGJUT GPSNPXOFS Q T UBSHFU Q BUUSJCVUF JG 8C IBTTVDIBOBUUSJCVUFPS JGPOF
    PGUIFDIJMEOPEFTPG UIF IFBE FMFNFOU Q JTB CBTF Q FMFNFOUXJUIB UBSHFU Q BUUSJCVUF UIFOUIFWBMVFPGUIF
    UBSHFU Q BUUSJCVUFPGUIFИSTUTVDI CBTF Q FMFNFOUPS JGUIFSFJTOPTVDIFMFNFOU UIFFNQUZTUSJOH

    5IF IJQ<GD?<O@ BOE AJMHIJQ<GD?<O@ DPOUFOUBUUSJCVUFTBSF CPPMFBOBUUSJCVUFT Q *GQSFTFOU UIFZJOEJDBUFUIBUUIF


    GPSNJTOPUUPCFWBMJEBUFEEVSJOHTVCNJTTJPO

    5IF HI P;FC>;N?MN;N? PGBOFMFNFOUJTUSVFJGUIFFMFNFOUJTB TVCNJUCVUUPO Q BOEUIFFMFNFOUT


    GPSNOPWBMJEBUF Q BUUSJCVUFJTQSFTFOU PSJGUIFFMFNFOUT GPSNPXOFS Q T OPWBMJEBUF Q BUUSJCVUFJTQSFTFOU BOE
    GBMTFPUIFSXJTF

    5IJTBUUSJCVUFJTVTFGVMUPJODMVEFTBWFCVUUPOTPOGPSNTUIBUIBWFWBMJEBUJPODPOTUSBJOUT UPBMMPXVTFSTUPTBWF
    UIFJSQSPHSFTTFWFOUIPVHIUIFZIBWFOUGVMMZFOUFSFEUIFEBUBJOUIFGPSN5IFGPMMPXJOHFYBNQMFTIPXTB
    TJNQMFGPSNUIBUIBTUXPSFRVJSFEИFMET5IFSFBSFUISFFCVUUPOTPOFUPTVCNJUUIFGPSN XIJDISFRVJSFTCPUI
    ИFMETUPCFИMMFEJOPOFUPTBWFUIFGPSNTPUIBUUIFVTFSDBODPNFCBDLBOEИMMJUJOMBUFSBOEPOFUPDBODFM
    UIFGPSNBMUPHFUIFS

    GPSNBDUJPOFEJUPSDHJNFUIPEQPTU
    QMBCFM/BNFJOQVUSFRVJSFEOBNFGOMBCFMQ
    QMBCFM&TTBZUFYUBSFBOBNFFTTBZUFYUBSFBMBCFMQ
    QJOQVUUZQFTVCNJUOBNFTVCNJUWBMVF4VCNJUFTTBZQ
    QJOQVUUZQFTVCNJUGPSNOPWBMJEBUFOBNFTBWFWBMVF4BWFFTTBZQ
    QJOQVUUZQFTVCNJUGPSNOPWBMJEBUFOBNFDBODFMWBMVF$BODFMQ
    GPSN

    5IF <>ODJI H@OCJ? @I>OTK@ BOE O<MB@O *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNF
    OBNF5IF IJ4<GD?<O@ *%-BUUSJCVUFNVTUSFЙFDUUIF OPWBMJEBUF Q DPOUFOUBUUSJCVUF5IF AJMH>ODJI *%-BUUSJCVUF
    NVTUSFЙFDUUIF GPSNBDUJPO Q DPOUFOUBUUSJCVUF5IF AJMH#I>OTK@ *%-BUUSJCVUFNVTUSFЙFDUUIF GPSNFODUZQF Q
    DPOUFOUBUUSJCVUF5IF AJMH+@OCJ? *%-BUUSJCVUFNVTUSFЙFDUUIF GPSNNFUIPE Q DPOUFOUBUUSJCVUF5IF
    AJMH,J4<GD?<O@ *%-BUUSJCVUFNVTUSFЙFDUUIF GPSNOPWBMJEBUF Q DPOUFOUBUUSJCVUF5IF AJMH2<MB@O *%-BUUSJCVUF
    NVTUSFЙFDUUIF GPSNUBSHFU Q DPOUFOUBUUSJCVUF

       IHMNL;CHNM
        ?]HCNCIHM

    " MJTUFEGPSNBTTPDJBUFEFMFNFOU Q JTB =;H>C>;N?@IL=IHMNL;CHNP;FC>;NCIH FYDFQUXIFOBDPOEJUJPOIBT <;LL?>


    NB??F?G?HN@LIG=IHMNL;CHNP;FC>;NCIH 'PSFYBNQMF BOFMFNFOUJT CBSSFEGSPNDPOTUSBJOUWBMJEBUJPO Q JGJUJTBO
    PVUQVU Q PS GJFMETFU Q FMFNFOU

    "OFMFNFOUDBOIBWFB =OMNIGP;FC>CNS?LLILG?MM;A? EFИOFE*OJUJBMMZ BOFMFNFOUNVTUIBWFJUT DVTUPNWBMJEJUZ


    FSSPSNFTTBHF Q TFUUPUIFFNQUZTUSJOH8IFOJUTWBMVFJTOPUUIFFNQUZTUSJOH UIFFMFNFOUJT TVЗFSJOHGSPNB
    DVTUPNFSSPS Q *UDBOCFTFUVTJOHUIF TFU$VTUPN7BMJEJUZ
    Q NFUIPE5IFVTFSBHFOUTIPVMEVTFUIF DVTUPN
    WBMJEJUZFSSPSNFTTBHF Q XIFOBMFSUJOHUIFVTFSUPUIFQSPCMFNXJUIUIFDPOUSPM

    
    "OFMFNFOUDBOCFDPOTUSBJOFEJOWBSJPVTXBZT5IFGPMMPXJOHJTUIFMJTUPG P;FC>CNSMN;N?M UIBUBGPSNDPOUSPMDBOCF
    JO NBLJOHUIFDPOUSPMJOWBMJEGPSUIFQVSQPTFTPGDPOTUSBJOUWBMJEBUJPO 5IFEFИOJUJPOTCFMPXBSFOPOOPSNBUJWFPUIFS
    QBSUTPGUIJTTQFDJИDBUJPOEFИOFNPSFQSFDJTFMZXIFOFBDITUBUFBQQMJFTPSEPFTOPU

    /NZ>KBG@?KHF;>BG@FBLLBG@
    8IFOBDPOUSPMIBTOP WBMVF Q CVUIBTB SFRVJSFE BUUSJCVUF JOQVU Q SFRVJSFE Q UFYUBSFB Q
    SFRVJSFE Q
    

    /NZ>KBG@?KHF:MRI>FBLF:M<A
    8IFOBDPOUSPMUIBUBMMPXTBSCJUSBSZVTFSJOQVUIBTB WBMVF Q UIBUJTOPUJOUIFDPSSFDUTZOUBY &NBJM Q
    63- Q
    

    /NZ>KBG@?KHF:I:MM>KGFBLF:M<A
    8IFOBDPOUSPMIBTB WBMVF Q UIBUEPFTOUTBUJTGZUIF QBUUFSO Q BUUSJCVUF

    /NZ>KBG@?KHF;>BG@MHHEHG@
    8IFOBDPOUSPMIBTB WBMVF Q UIBUJTUPPMPOHGPSUIF GPSNDPOUSPM NBYMFOHUI BUUSJCVUF Q JOQVU Q
    NBYMFOHUI Q UFYUBSFB Q NBYMFOHUI Q
    

    /NZ>KBG@?KHF:GNG=>K\HP
    8IFOBDPOUSPMIBTB WBMVF Q UIBUJTUPPMPXGPSUIF NJO Q BUUSJCVUF

    /NZ>KBG@?KHF:GHO>K\HP
    8IFOBDPOUSPMIBTB WBMVF Q UIBUJTUPPIJHIGPSUIF NBY Q BUUSJCVUF

    /NZ>KBG@?KHF:LM>IFBLF:M<A
    8IFOBDPOUSPMIBTB WBMVF Q UIBUEPFTOUИUUIFSVMFTHJWFOCZUIF TUFQ Q BUUSJCVUF

    /NZ>KBG@?KHF:<NLMHF>KKHK
    8IFOBDPOUSPMT DVTUPNWBMJEJUZFSSPSNFTTBHF Q BTTFUCZUIFFMFNFOUT TFU$VTUPN7BMJEJUZ
    Q NFUIPE

    JTOPUUIFFNQUZTUSJOH

    *HM> G>E>F>GM<:GLMBEELNZ>K?KHFMA>L>LM:M>L>O>GPA>GMA>>E>F>GMBL =BL:;E>= I MANL


    MA>L>LM:M>L<:G;>K>IK>L>GM>=BGMA> +)>O>GB?O:EB=:MBG@MA>?HKF=NKBG@LN;FBLLBHG
    PHNE=GMBG=B<:M>:IKH;E>FMHMA>NL>K

    "OFMFNFOU M;NCM]?MCNM=IHMNL;CHNM JGJUJTOPUTVЗFSJOHGSPNBOZPGUIFBCPWF WBMJEJUZTUBUFT Q 

        IHMNL;CHNP;FC>;NCIH

    8IFOUIFVTFSBHFOUJTSFRVJSFEUP MN;NC=;FFSP;FC>;N?NB?=IHMNL;CHNM PG GPSN Q FMFNFOU 5>A< JUNVTUSVOUIF


    GPMMPXJOHTUFQT XIJDISFUVSOFJUIFSB ?>B8C8E4 SFTVMU BMMUIFDPOUSPMTJOUIFGPSNBSFWBMJE
    PSB =460C8E4 SFTVMU UIFSF
    BSFJOWBMJEDPOUSPMT
    BMPOHXJUIB QPTTJCMZFNQUZ
    MJTUPGFMFNFOUTUIBUBSFJOWBMJEBOEGPSXIJDIOPTDSJQUIBTDMBJNFE
    SFTQPOTJCJMJUZ

     -FU 2>=CA>;B CFBMJTUPGBMMUIF TVCNJUUBCMFFMFNFOUT Q XIPTF GPSNPXOFS Q JT 5>A< JO USFFPSEFS Q 

     -FU 8=E0;832>=CA>;B CFBOJOJUJBMMZFNQUZMJTUPGFMFNFOUT

     'PSFBDIFMFNFOU P4;3 JO 2>=CA>;B JO USFFPSEFS Q SVOUIFGPMMPXJOHTVCTUFQT

     *G P4;3 JTOPUB DBOEJEBUFGPSDPOTUSBJOUWBMJEBUJPO Q UIFONPWFPOUPUIFOFYUFMFNFOU

     0UIFSXJTF JG P4;3 TBUJTИFTJUTDPOTUSBJOUT Q UIFONPWFPOUPUIFOFYUFMFNFOU

     0UIFSXJTF BEE P4;3 UP 8=E0;832>=CA>;B

     *G 8=E0;832>=CA>;B JTFNQUZ UIFOSFUVSOB ?>B8C8E4 SFTVMUBOEBCPSUUIFTFTUFQT

     -FU D=70=3;438=E0;832>=CA>;B CFBOJOJUJBMMZFNQUZMJTUPGFMFNFOUT

     'PSFBDIFMFNFOU P4;3 JO 8=E0;832>=CA>;B JGBOZ JO USFFPSEFS Q SVOUIFGPMMPXJOHTVCTUFQT

     'JSFBTJNQMFFWFOU Q OBNFE JOWBMJE UIBUJTDBODFMBCMFBU P4;3

     *GUIFFWFOUXBTOPUDBODFMFE UIFOBEE P4;3 UP D=70=3;438=E0;832>=CA>;B

     3FUVSOB =460C8E4 SFTVMUXJUIUIFMJTUPGFMFNFOUTJOUIF D=70=3;438=E0;832>=CA>;B MJTU

    
    *GBVTFSBHFOUJTUP CHN?L;=NCP?FSP;FC>;N?NB?=IHMNL;CHNM PG GPSN Q FMFNFOU 5>A< UIFOUIFVTFSBHFOUNVTUSVO
    UIFGPMMPXJOHTUFQT

     4UBUJDBMMZWBMJEBUFUIFDPOTUSBJOUT Q PG 5>A< BOEMFU D=70=3;438=E0;832>=CA>;B CFUIFMJTUPGFMFNFOUT


    SFUVSOFEJGUIFSFTVMUXBT =460C8E4

     *GUIFSFTVMUXBT ?>B8C8E4 UIFOSFUVSOUIBUSFTVMUBOEBCPSUUIFTFTUFQT

     3FQPSUUIFQSPCMFNTXJUIUIFDPOTUSBJOUTPGBUMFBTUPOFPGUIFFMFNFOUTHJWFOJO D=70=3;438=E0;832>=CA>;B
    UPUIFVTFS6TFSBHFOUTNBZGPDVTPOFPGUIPTFFMFNFOUTJOUIFQSPDFTT CZSVOOJOHUIF GPDVTJOHTUFQT Q
    GPSUIBUFMFNFOU BOENBZDIBOHFUIFTDSPMMJOHQPTJUJPOPGUIFEPDVNFOU PSQFSGPSNTPNFPUIFSBDUJPOUIBU
    CSJOHTUIFFMFNFOUUPUIFVTFSTBUUFOUJPO6TFSBHFOUTNBZSFQPSUNPSFUIBOPOFDPOTUSBJOUWJPMBUJPO6TFS
    BHFOUTNBZDPBMFTDFSFMBUFEDPOTUSBJOUWJPMBUJPOSFQPSUTJGBQQSPQSJBUF FHJGNVMUJQMFSBEJPCVUUPOTJOB
    HSPVQ Q BSFNBSLFEBTSFRVJSFE POMZPOFFSSPSOFFECFSFQPSUFE
    *GPOFPGUIFDPOUSPMTJTOPU CFJOH
    SFOEFSFE Q FHJUIBTUIF IJEEFO Q BUUSJCVUFTFU
    UIFOVTFSBHFOUTNBZSFQPSUBTDSJQUFSSPS

     3FUVSOB =460C8E4 SFTVMU

        0B? =IHMNL;CHNP;FC>;NCIH,%

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >E>F>GM RDGG4<GD?<O@
    3FUVSOTUSVFJGUIFFMFNFOUXJMMCFWBMJEBUFEXIFOUIFGPSNJTTVCNJUUFEGBMTFPUIFSXJTF

    >E>F>GM N@O!PNOJH4<GD?DOT K F>LL:@>


    4FUTBDVTUPNFSSPS TPUIBUUIFFMFNFOUXPVMEGBJMUPWBMJEBUF5IFHJWFONFTTBHFJTUIFNFTTBHFUPCF
    TIPXOUPUIFVTFSXIFOSFQPSUJOHUIFQSPCMFNUPUIFVTFS
    *GUIFBSHVNFOUJTUIFFNQUZTUSJOH DMFBSTUIFDVTUPNFSSPS

    >E>F>GM Q<GD?DOT K Q<GP@+DNNDIB K


    3FUVSOTUSVFJGUIFFMFNFOUIBTOPWBMVFCVUJTBSFRVJSFEИFMEGBMTFPUIFSXJTF

    >E>F>GM Q<GD?DOT K OTK@+DNH<O>C K


    3FUVSOTUSVFJGUIFFMFNFOUTWBMVFJTOPUJOUIFDPSSFDUTZOUBYGBMTFPUIFSXJTF

    >E>F>GM Q<GD?DOT K K<OO@MI+DNH<O>C K


    3FUVSOTUSVFJGUIFFMFNFOUTWBMVFEPFTOUNBUDIUIFQSPWJEFEQBUUFSOGBMTFPUIFSXJTF

    >E>F>GM Q<GD?DOT K OJJ*JIB K


    3FUVSOTUSVFJGUIFFMFNFOUTWBMVFJTMPOHFSUIBOUIFQSPWJEFENBYJNVNMFOHUIGBMTFPUIFSXJTF

    >E>F>GM Q<GD?DOT K M<IB@3I?@MAGJR K


    3FUVSOTUSVFJGUIFFMFNFOUTWBMVFJTMPXFSUIBOUIFQSPWJEFENJOJNVNGBMTFPUIFSXJTF

    >E>F>GM Q<GD?DOT K M<IB@-Q@MAGJR K


    3FUVSOTUSVFJGUIFFMFNFOUTWBMVFJTIJHIFSUIBOUIFQSPWJEFENBYJNVNGBMTFPUIFSXJTF

    >E>F>GM Q<GD?DOT K NO@K+DNH<O>C K


    3FUVSOTUSVFJGUIFFMFNFOUTWBMVFEPFTOUИUUIFSVMFTHJWFOCZUIF TUFQ Q BUUSJCVUFGBMTFPUIFSXJTF

    >E>F>GM Q<GD?DOT K >PNOJH#MMJM K


    3FUVSOTUSVFJGUIFFMFNFOUIBTBDVTUPNFSSPSGBMTFPUIFSXJTF

    >E>F>GM Q<GD?DOT K Q<GD? K


    3FUVSOTUSVFJGUIFFMFNFOUTWBMVFIBTOPWBMJEJUZQSPCMFNTGBMTFPUIFSXJTF

    O:EB=  >E>F>GM >C@>F4<GD?DOT K 


    3FUVSOTUSVFJGUIFFMFNFOUTWBMVFIBTOPWBMJEJUZQSPCMFNTGBMTFPUIFSXJTF'JSFTBO JOWBMJE FWFOUBUUIF
    FMFNFOUJOUIFMBUUFSDBTF

    
    >E>F>GM Q<GD?<ODJI+@NN<B@ K
    3FUVSOTUIFFSSPSNFTTBHFUIBUXPVMECFTIPXOUPUIFVTFSJGUIFFMFNFOUXBTUPCFDIFDLFEGPSWBMJEJUZ

    5IF RDGG4<GD?<O@ BUUSJCVUFNVTUSFUVSOUSVFJGBOFMFNFOUJTB DBOEJEBUFGPSDPOTUSBJOUWBMJEBUJPO Q BOEGBMTF


    PUIFSXJTF JFGBMTFJGBOZDPOEJUJPOTBSF CBSSJOHJUGSPNDPOTUSBJOUWBMJEBUJPO Q
    

    5IF N@O!PNOJH4<GD?DOTF>LL:@> XIFOJOWPLFE NVTUTFUUIF DVTUPNWBMJEJUZFSSPSNFTTBHF Q UPUIFWBMVFPGUIF


    HJWFO <4BB064 BSHVNFOU

    *OUIFGPMMPXJOHFYBNQMF BTDSJQUDIFDLTUIFWBMVFPGBGPSNDPOUSPMFBDIUJNFJUJTFEJUFE BOEXIFOFWFSJUJT


    OPUBWBMJEWBMVF VTFTUIF TFU$VTUPN7BMJEJUZ
    Q NFUIPEUPTFUBOBQQSPQSJBUFNFTTBHF

    MBCFM'FFMJOHJOQVUOBNFGUZQFUFYUPOJOQVUDIFDL UIJT
    MBCFM
    TDSJQU
    GVODUJPODIFDL JOQVU
    \
    JG JOQVUWBMVFHPPE]]
    JOQVUWBMVFGJOF]]
    JOQVUWBMVFUJSFE
    \
    JOQVUTFU$VTUPN7BMJEJUZ  JOQVUWBMVF JTOPUBGFFMJOH
    
    ^FMTF\
    JOQVUJTGJOFSFTFUUIFFSSPSNFTTBHF
    JOQVUTFU$VTUPN7BMJEJUZ 
    
    ^
    ^
    TDSJQU

    5IF Q<GD?DOT BUUSJCVUFNVTUSFUVSOB 7BMJEJUZ4UBUF Q PCKFDUUIBUSFQSFTFOUTUIF WBMJEJUZTUBUFT Q PGUIFFMFNFOU


    5IJTPCKFDUJT MJWF Q BOEUIFTBNFPCKFDUNVTUCFSFUVSOFEFBDIUJNFUIFFMFNFOUT WBMJEJUZ Q BUUSJCVUFJT
    SFUSJFWFE

    JOUFSGBDF 4<GD?DOT1O<O@ \
    SFBEPOMZBUUSJCVUFCPPMFBO WBMVF.JTTJOH
    SFBEPOMZBUUSJCVUFCPPMFBO UZQF.JTNBUDI
    SFBEPOMZBUUSJCVUFCPPMFBO QBUUFSO.JTNBUDI
    SFBEPOMZBUUSJCVUFCPPMFBO UPP-POH
    SFBEPOMZBUUSJCVUFCPPMFBO SBOHF6OEFSGMPX
    SFBEPOMZBUUSJCVUFCPPMFBO SBOHF0WFSGMPX
    SFBEPOMZBUUSJCVUFCPPMFBO TUFQ.JTNBUDI
    SFBEPOMZBUUSJCVUFCPPMFBO DVTUPN&SSPS
    SFBEPOMZBUUSJCVUFCPPMFBO WBMJE
    ^

    " 7BMJEJUZ4UBUF Q PCKFDUIBTUIFGPMMPXJOHBUUSJCVUFT0OHFUUJOH UIFZNVTUSFUVSOUSVFJGUIFDPSSFTQPOEJOH


    DPOEJUJPOHJWFOJOUIFGPMMPXJOHMJTUJTUSVF BOEGBMTFPUIFSXJTF

    O:EN>+BLLBG@
    5IFDPOUSPMJT TVЗFSJOHGSPNCFJOHNJTTJOH Q 

    MRI>+BLF:M<A
    5IFDPOUSPMJT TVЗFSJOHGSPNBUZQFNJTNBUDI Q 

    I:MM>KG+BLF:M<A
    5IFDPOUSPMJT TVЗFSJOHGSPNBQBUUFSONJTNBUDI Q 

    MHH*HG@
    5IFDPOUSPMJT TVЗFSJOHGSPNCFJOHUPPMPOH Q 

    K:G@>3G=>K?EHP
    5IFDPOUSPMJT TVЗFSJOHGSPNBOVOEFSЙPX Q 

    K:G@>-O>K?EHP
    5IFDPOUSPMJT TVЗFSJOHGSPNBOPWFSЙPX Q 

    
    LM>I+BLF:M<A
    5IFDPOUSPMJT TVЗFSJOHGSPNBTUFQNJTNBUDI Q 

    <NLMHF$KKHK
    5IFDPOUSPMJT TVЗFSJOHGSPNBDVTUPNFSSPS Q 

    O:EB=
    /POFPGUIFPUIFSDPOEJUJPOTBSFUSVF

    8IFOUIF >C@>F4<GD?DOT NFUIPEJTJOWPLFE JGUIFFMFNFOUJTB DBOEJEBUFGPSDPOTUSBJOUWBMJEBUJPO Q BOEEPFTOPU


    TBUJTGZJUTDPOTUSBJOUT Q UIFVTFSBHFOUNVTU ИSFBTJNQMFFWFOU Q OBNFE JOWBMJE UIBUJTDBODFMBCMF CVUJOUIJT
    DBTFIBTOPEFGBVMUBDUJPO
    BUUIFFMFNFOUBOESFUVSOGBMTF0UIFSXJTF JUNVTUPOMZSFUVSOUSVFXJUIPVUEPJOHBOZUIJOH
    FMTF

    5IF Q<GD?<ODJI+@NN<B@ BUUSJCVUFNVTUSFUVSOUIFFNQUZTUSJOHJGUIFFMFNFOUJTOPUB DBOEJEBUFGPSDPOTUSBJOU


    WBMJEBUJPO Q PSJGJUJTPOFCVUJU TBUJTИFTJUTDPOTUSBJOUT Q PUIFSXJTF JUNVTUSFUVSOBTVJUBCMZMPDBMJ[FENFTTBHFUIBU
    UIFVTFSBHFOUXPVMETIPXUIFVTFSJGUIJTXFSFUIFPOMZGPSNDPOUSPMXJUIBWBMJEJUZDPOTUSBJOUQSPCMFN*GUIFVTFS
    BHFOUXPVMEOPUBDUVBMMZTIPXBUFYUVBMNFTTBHFJOTVDIBTJUVBUJPO FHJUXPVMETIPXBHSBQIJDBMDVFJOTUFBE
    UIFO
    UIFBUUSJCVUFNVTUSFUVSOBTVJUBCMZMPDBMJ[FENFTTBHFUIBUFYQSFTTFT POFPSNPSFPG
    UIFWBMJEJUZDPOTUSBJOU T
    UIBU
    UIFDPOUSPMEPFTOPUTBUJTGZ*GUIFFMFNFOUJTB DBOEJEBUFGPSDPOTUSBJOUWBMJEBUJPO Q BOEJT TVЗFSJOHGSPNBDVTUPN
    FSSPS Q UIFOUIF DVTUPNWBMJEJUZFSSPSNFTTBHF Q TIPVMECFQSFTFOUJOUIFSFUVSOWBMVF

        /?=OLCNS

    4FSWFSTTIPVMEOPUSFMZPODMJFOUTJEFWBMJEBUJPO$MJFOUTJEFWBMJEBUJPODBOCFJOUFOUJPOBMMZCZQBTTFECZIPTUJMFVTFST
    BOEVOJOUFOUJPOBMMZCZQBTTFECZVTFSTPGPMEFSVTFSBHFOUTPSBVUPNBUFEUPPMTUIBUEPOPUJNQMFNFOUUIFTFGFBUVSFT
    5IFDPOTUSBJOUWBMJEBUJPOGFBUVSFTBSFPOMZJOUFOEFEUPJNQSPWFUIFVTFSFYQFSJFODF OPUUPQSPWJEFBOZLJOEPG
    TFDVSJUZNFDIBOJTN

       "ILGMO<GCMMCIH

        %HNLI>O=NCIH

    *78BB42C8>=8B=>==>A<0C8E4

    8IFOGPSNTBSFTVCNJUUFE UIFEBUBJOUIFGPSNJTDPOWFSUFEJOUPUIFGPSNTQFDJИFECZUIF FODUZQF Q BOEUIFOTFOU


    UPUIFEFTUJOBUJPOTQFDJИFECZUIF BDUJPO Q VTJOHUIFHJWFO NFUIPE Q 

    'PSFYBNQMF UBLFUIFGPMMPXJOHGPSN

    GPSNBDUJPOGJOEDHJNFUIPEHFU
    JOQVUUZQFUFYUOBNFU
    JOQVUUZQFTFBSDIOBNFR
    JOQVUUZQFTVCNJU
    GPSN

    *GUIFVTFSUZQFTJODBUTJOUIFИSTUИFMEBOEGVSJOUIFTFDPOE BOEUIFOIJUTUIFTVCNJUCVUUPO UIFOUIFVTFSBHFOU


    XJMMMPBE GJOEDHJ UDBUTRGVS

    0OUIFPUIFSIBOE DPOTJEFSUIJTGPSN

    GPSNBDUJPOGJOEDHJNFUIPEQPTUFODUZQFNVMUJQBSUGPSNEBUB
    JOQVUUZQFUFYUOBNFU
    JOQVUUZQFTFBSDIOBNFR
    JOQVUUZQFTVCNJU
    GPSN

    (JWFOUIFTBNFVTFSJOQVU UIFSFTVMUPOTVCNJTTJPOJTRVJUFEJЗFSFOUUIFVTFSBHFOUJOTUFBEEPFTBO)5511045UP
    UIFHJWFO63- XJUIBTUIFFOUJUZCPEZTPNFUIJOHMJLFUIFGPMMPXJOHUFYU

    L:'SEK/+&H$FSW&
    $POUFOU%JTQPTJUJPOGPSNEBUBOBNFU

    DBUT
    L:'SEK/+&H$FSW&
    $POUFOU%JTQPTJUJPOGPSNEBUBOBNFR

    
    GVS
    L:'SEK/+&H$FSW&

        %GJFC=CNMO<GCMMCIH

    6TFSBHFOUTNBZFTUBCMJTIB CVUUPO Q JOFBDIGPSNBTCFJOHUIFGPSNT >?@;OFN<ONNIH5IJTTIPVMECFUIFИSTU


    TVCNJUCVUUPO Q JO USFFPSEFS Q XIPTF GPSNPXOFS Q JTUIBU GPSN Q FMFNFOU CVUVTFSBHFOUTNBZQJDLBOPUIFS
    CVUUPOJGBOPUIFSXPVMECFNPSFBQQSPQSJBUFGPSUIFQMBUGPSN*GUIFQMBUGPSNTVQQPSUTMFUUJOHUIFVTFSTVCNJUBGPSN
    JNQMJDJUMZ GPSFYBNQMF POTPNFQMBUGPSNTIJUUJOHUIFFOUFSLFZXIJMFBUFYUИFMEJTGPDVTFEJNQMJDJUMZTVCNJUTUIF
    GPSN
    UIFOEPJOHTPNVTUDBVTFUIFGPSNT EFGBVMUCVUUPO Q T BDUJWBUJPOCFIBWJPS Q JGBOZ UPCFSVO

    *HM> HGL>JN>GMER B?MA> =>?:NEM;NMMHG I BL =BL:;E>= I MA>?HKFBLGHMLN;FBMM>=PA>GLN<A


    :GBFIEB<BMLN;FBLLBHGF><A:GBLFBLNL>= ;NMMHGA:LGH :<MBO:MBHG;>A:OBHK I PA>G
    =BL:;E>= 

    *GUIFGPSNIBTOP TVCNJUCVUUPO Q UIFOUIFJNQMJDJUTVCNJTTJPONFDIBOJTNNVTUKVTU TVCNJU Q UIF GPSN Q


    FMFNFOUGSPNUIF GPSN Q FMFNFOUJUTFMG

        "ILGMO<GCMMCIH;FAILCNBG

    8IFOBGPSN 5>A< JT MO<GCNN?> GSPNBOFMFNFOU BD1<8CC4A UZQJDBMMZBCVUUPO


    PQUJPOBMMZXJUIB B2A8?C43BD1<8C ЙBH
    TFU UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     *G 5>A< JTJOB %PDVNFOU Q UIBUIBTOPBTTPDJBUFE CSPXTJOHDPOUFYU Q PSXIPTF CSPXTJOHDPOUFYU Q IBEJUT
    TBOECPYFEGPSNTCSPXTJOHDPOUFYUЙBH Q TFUXIFOUIF %PDVNFOU Q XBTDSFBUFE UIFOBCPSUUIFTFTUFQT
    XJUIPVUEPJOHBOZUIJOH

     *G 5>A< JTBMSFBEZCFJOHTVCNJUUFE JFUIFGPSNXBT TVCNJUUFE Q BHBJOXIJMFQSPDFTTJOHUIFFWFOUTИSFE


    GSPNUIFOFYUUXPTUFQT QSPCBCMZGSPNBTDSJQUSFEVOEBOUMZDBMMJOHUIF TVCNJU
    Q NFUIPEPO 5>A<
    UIFO
    BCPSUUIFTFTUFQT5IJTEPFTOUBЗFDUUIFFBSMJFSJOTUBODFPGUIJTBMHPSJUIN

     *GUIF B2A8?C43BD1<8C ЙBHJTOPUTFU BOEUIF BD1<8CC4A FMFNFOUT OPWBMJEBUFTUBUF Q JTGBMTF UIFO
    JOUFSBDUJWFMZWBMJEBUFUIFDPOTUSBJOUT Q PG 5>A< BOEFYBNJOFUIFSFTVMUJGUIFSFTVMUJTOFHBUJWF UIF
    DPOTUSBJOUWBMJEBUJPODPODMVEFEUIBUUIFSFXFSFJOWBMJEИFMETBOEQSPCBCMZJOGPSNFEUIFVTFSPGUIJT
    UIFO
    BCPSUUIFTFTUFQT

     *GUIF B2A8?C43BD1<8C ЙBHJTOPUTFU UIFO ИSFBTJNQMFFWFOU Q UIBUJTDBODFMBCMFOBNFE TVCNJU BU 5>A<*G
    UIFFWFOUTEFGBVMUBDUJPOJTQSFWFOUFE JFJGUIFFWFOUJTDBODFMFE
    UIFOBCPSUUIFTFTUFQT0UIFSXJTF
    DPOUJOVF FЗFDUJWFMZUIFEFGBVMUBDUJPOJTUPQFSGPSNUIFTVCNJTTJPO
    

     -FU 2>=CA>;B CFBMJTUPGBMMUIF TVCNJUUBCMFFMFNFOUT Q XIPTF GPSNPXOFS Q JT 5>A< JO USFFPSEFS Q 

     -FUUIF 5>A<30C0B4C CFBMJTUPGOBNFWBMVFUZQFUVQMFT JOJUJBMMZFNQUZ

     IHMNLO=NCHANB?@ILG>;N;M?N'PSFBDIFMFNFOU P4;3 JO 2>=CA>;B JO USFFPSEFS Q SVOUIFGPMMPXJOH


    TVCTUFQT

     *GBOZPGUIFGPMMPXJOHDPOEJUJPOTBSFNFU UIFOTLJQUIFTFTVCTUFQTGPSUIJTFMFNFOU

    Ǭ 5IF P4;3 FMFNFOUIBTB EBUBMJTU Q FMFNFOUBODFTUPS

    Ǭ 5IF P4;3 FMFNFOUJT EJTBCMFE Q 

    Ǭ 5IF P4;3 FMFNFOUJTB CVUUPO Q CVUJUJTOPU BD1<8CC4A

    Ǭ 5IF P4;3 FMFNFOUJTBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF $IFDLCPY Q
    TUBUFBOEXIPTF DIFDLFEOFTT Q JTGBMTF

    Ǭ 5IF P4;3 FMFNFOUJTBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 3BEJP
    #VUUPO Q TUBUFBOEXIPTF DIFDLFEOFTT Q JTGBMTF

    Ǭ 5IF P4;3 FMFNFOUJTOPUBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF *NBHF
    #VUUPO Q TUBUF BOEFJUIFSUIF P4;3 FMFNFOUEPFTOPUIBWFB OBNF Q BUUSJCVUF
    TQFDJИFE PSJUT OBNF Q BUUSJCVUFTWBMVFJTUIFFNQUZTUSJOH

    Ǭ 5IF P4;3 FMFNFOUJTBO PCKFDU Q FMFNFOUUIBUJTOPUVTJOHB QMVHJO Q 

    
    0UIFSXJTF QSPDFTT P4;3 BTGPMMPXT

     -FU CH?4 CFUIFWBMVFPGUIF UZQF *%-BUUSJCVUFPG P4;3

     *GUIF P4;3 FMFNFOUJTBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF *NBHF#VUUPO Q
    TUBUF UIFOSVOUIFTFGVSUIFSOFTUFETVCTUFQT

     *GUIF P4;3 FMFNFOUIBTBO OBNF Q BUUSJCVUFTQFDJИFEBOEWBMVFJTOPUUIFFNQUZTUSJOH


    MFU =0<4 CFUIBUWBMVFGPMMPXFECZBTJOHMF6 &'6--4501DIBSBDUFS 
    0UIFSXJTF
    MFU =0<4 CFUIFFNQUZTUSJOH

     -FU =0<4G CFUIFTUSJOHDPOTJTUJOHPGUIFDPODBUFOBUJPOPG =0<4 BOEBTJOHMF6 


    -"5*/4."---&55&39DIBSBDUFS Y
    

     -FU =0<4H CFUIFTUSJOHDPOTJTUJOHPGUIFDPODBUFOBUJPOPG =0<4 BOEBTJOHMF6 


    -"5*/4."---&55&3:DIBSBDUFS Z
    

     5IF P4;3 FMFNFOUJT BD1<8CC4A BOECFGPSFUIJTBMHPSJUINXBTJOWPLFEUIFVTFS JOEJDBUFE


    BDPPSEJOBUF Q -FU G CFUIF GDPNQPOFOUPGUIFDPPSEJOBUFTFMFDUFECZUIFVTFS BOE
    MFU H CFUIF HDPNQPOFOUPGUIFDPPSEJOBUFTFMFDUFECZUIFVTFS

     "QQFOEBOFOUSZJOUIF 5>A<30C0B4C XJUIUIFOBNF =0<4G UIFWBMVF G BOEUIFUZQF


    CH?4

     "QQFOEBOFOUSZJOUIF 5>A<30C0B4C XJUIUIFOBNF =0<4H BOEUIFWBMVF H BOEUIF


    UZQF CH?4

     4LJQUIFSFNBJOJOHTVCTUFQTGPSUIJTFMFNFOUJGUIFSFBSFBOZNPSFFMFNFOUTJO 2>=CA>;B
    SFUVSOUPUIFUPQPGUIF DPOTUSVDUJOHUIFGPSNEBUBTFU Q TUFQ PUIFSXJTF KVNQUPUIF
    OFYUTUFQJOUIFPWFSBMMGPSNTVCNJTTJPOBMHPSJUIN

     -FU =0<4 CFUIFWBMVFPGUIF P4;3 FMFNFOUT OBNF Q BUUSJCVUF

     *GUIF P4;3 FMFNFOUJTB TFMFDU Q FMFNFOU UIFOGPSFBDI PQUJPO Q FMFNFOUJOUIF TFMFDU Q
    FMFNFOUXIPTF TFMFDUFEOFTT Q JTUSVF BQQFOEBOFOUSZJOUIF 5>A<30C0B4C XJUIUIF =0<4 BTUIF
    OBNF UIF WBMVF Q PGUIF PQUJPO Q FMFNFOUBTUIFWBMVF BOE CH?4 BTUIFUZQF

     0UIFSXJTF JGUIF P4;3 FMFNFOUJTBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF
    $IFDLCPY Q TUBUFPSUIF 3BEJP#VUUPO Q TUBUF UIFOSVOUIFTFGVSUIFSOFTUFETVCTUFQT

     *GUIF P4;3 FMFNFOUIBTB WBMVF Q BUUSJCVUFTQFDJИFE UIFOMFU E0;D4 CFUIFWBMVFPGUIBU


    BUUSJCVUFPUIFSXJTF MFU E0;D4 CFUIFTUSJOHPO

     "QQFOEBOFOUSZJOUIF 5>A<30C0B4C XJUI =0<4 BTUIFOBNF E0;D4 BTUIFWBMVF BOE


    CH?4 BTUIFUZQF

     0UIFSXJTF JGUIF P4;3 FMFNFOUJTBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 'JMF
    6QMPBE Q TUBUF UIFOGPSFBDIИMF TFMFDUFE Q JOUIF JOQVU Q FMFNFOU BQQFOEBOFOUSZJOUIF
    5>A<30C0B4C XJUIUIF =0<4 BTUIFOBNF UIFИMF DPOTJTUJOHPGUIFOBNF UIFUZQF BOEUIFCPEZ

    BTUIFWBMVF BOE CH?4 BTUIFUZQF*GUIFSFBSFOP TFMFDUFEИMFT Q UIFOBQQFOEBOFOUSZJOUIF


    5>A<30C0B4C XJUIUIF =0<4 BTUIFOBNF UIFFNQUZTUSJOHBTUIFWBMVF BOE BQQMJDBUJPO
    PDUFUTUSFBN BTUIFUZQF

     0UIFSXJTF JGUIF P4;3 FMFNFOUJTBO PCKFDU Q FMFNFOUUSZUPPCUBJOBGPSNTVCNJTTJPOWBMVF


    GSPNUIF QMVHJO Q BOEJGUIBUJTTVDDFTTGVM BQQFOEBOFOUSZJOUIF 5>A<30C0B4C XJUI =0<4 BTUIF
    OBNF UIFSFUVSOFEGPSNTVCNJTTJPOWBMVFBTUIFWBMVF BOEUIFTUSJOHPCKFDUBTUIFUZQF

     0UIFSXJTF BQQFOEBOFOUSZJOUIF 5>A<30C0B4C XJUI =0<4 BTUIFOBNF UIF WBMVF Q PGUIF P4;3
    FMFNFOUBTUIFWBMVF BOE CH?4 BTUIFUZQF

     -FU 02C8>= CFUIF BD1<8CC4A FMFNFOUT BDUJPO Q 

     *G 02C8>= JTUIFFNQUZTUSJOH MFU 02C8>= CF UIFEPDVNFOUTBEESFTT Q 

    *HM> 0ABLLM>IBL: PBEE?NEOBHE:MBHG I H?." PAB<APHNE=K>JNBK>;:L>1.(


    IKH<>LLBG@A>K> 0ABLOBHE:MBHGBLFHMBO:M>=;R:=>LBK>?HK<HFI:MB;BEBMRPBMAE>@:<R
    <HGM>GM 7."8 I

    
     3FTPMWF Q UIF 63- Q 02C8>= SFMBUJWFUPUIF BD1<8CC4A FMFNFOU*GUIJTGBJMT BCPSUUIFTFTUFQT0UIFSXJTF MFU
    02C8>= CFUIFSFTVMUJOH BCTPMVUF63- Q 

     -FU B274<4 CFUIF TDIFNF Q PGUIFSFTVMUJOH BCTPMVUF63- Q 

     -FU 4=2CH?4 CFUIF BD1<8CC4A FMFNFOUT FODUZQF Q 

     -FU <4C7>3 CFUIF BD1<8CC4A FMFNFOUT NFUIPE Q 

     -FU C0A64C CFUIF BD1<8CC4A FMFNFOUT UBSHFU Q 

     4FMFDUUIFBQQSPQSJBUFSPXJOUIFUBCMFCFMPXCBTFEPOUIFWBMVFPG B274<4 BTHJWFOCZUIFИSTUDFMMPGFBDI


    SPX5IFO TFMFDUUIFBQQSPQSJBUFDFMMPOUIBUSPXCBTFEPOUIFWBMVFPG <4C7>3 BTHJWFOJOUIFИSTUDFMMPG
    FBDIDPMVNO5IFO KVNQUPUIFTUFQTOBNFEJOUIBUDFMMBOEEFИOFECFMPXUIFUBCMF

    #!0 J ,+/0 J ,10 J !(!0! J


    Q Q Q
    COOK .VUBUFBDUJPO 4VCNJUBTFOUJUZCPEZ 4VCNJUBTFOUJUZCPEZ %FMFUFBDUJPO Q
    Q Q Q
    COOKN .VUBUFBDUJPO 4VCNJUBTFOUJUZCPEZ 4VCNJUBTFOUJUZCPEZ %FMFUFBDUJPO Q
    AOK (FUBDUJPO Q (FUBDUJPO Q (FUBDUJPO Q (FUBDUJPO Q
    E<Q<N>MDKO (FUBDUJPO Q (FUBDUJPO Q
    (FUBDUJPO Q
    (FUBDUJPO Q
    Q Q Q
    ?<O< (FUBDUJPO 1PTUUPEBUB 1VUUPEBUB (FUBDUJPO Q
    Q Q Q
    H<DGOJ .BJMXJUIIFBEFST .BJMBTCPEZ .BJMXJUIIFBEFST .BJMXJUIIFBEFST Q

    *G B274<4 JTOPUPOFPGUIPTFMJTUFEJOUIJTUBCMF UIFOUIFCFIBWJPSJTOPUEFИOFECZUIJTTQFDJИDBUJPO6TFS


    BHFOUTTIPVME JOUIFBCTFODFPGBOPUIFSTQFDJИDBUJPOEFИOJOHUIJT BDUJOBNBOOFSBOBMPHPVTUPUIBU
    EFИOFEJOUIJTTQFDJИDBUJPOGPSTJNJMBSTDIFNFT

    5IFCFIBWJPSTBSFBTGPMMPXT

    )NM:M>:<MBHG
    -FU @D4AH CFUIFSFTVMUPGFODPEJOHUIF 5>A<30C0B4C VTJOHUIF BQQMJDBUJPOYXXXGPSNVSMFODPEFE
    FODPEJOHBMHPSJUIN Q JOUFSQSFUFEBTB64"4$**TUSJOH

    -FU 34BC8=0C8>= CFBOFX 63- Q UIBUJTFRVBMUPUIF 02C8>= FYDFQUUIBUJUT RVFSZ Q DPNQPOFOUJT
    SFQMBDFECZ @D4AH BEEJOHB6 '26&45*0/."3,DIBSBDUFS
    JGBQQSPQSJBUF
    

    -FU C0A64C1A>FB8=62>=C4GC CF UIFGPSNTVCNJTTJPOUBSHFUCSPXTJOHDPOUFYU Q 

    /BWJHBUF Q C0A64C1A>FB8=62>=C4GC UP 34BC8=0C8>=*G C0A64C1A>FB8=62>=C4GC XBTOFXMZDSFBUFEGPS


    UIJTQVSQPTFCZUIFTUFQTBCPWF UIFOJUNVTUCFOBWJHBUFEXJUI SFQMBDFNFOUFOBCMFE Q 

    /N;FBM:L>GMBMR;H=R
    -FU 4=C8CH1>3H CFUIFSFTVMUPGFODPEJOHUIF 5>A<30C0B4C VTJOHUIF BQQSPQSJBUFGPSNFODPEJOH
    BMHPSJUIN Q 

    -FU C0A64C1A>FB8=62>=C4GC CF UIFGPSNTVCNJTTJPOUBSHFUCSPXTJOHDPOUFYU Q 

    -FU ##CH?4 CFEFUFSNJOFEBTGPMMPXT

    %@ >G<MRI> CM <KKGD><ODJIS RRR AJMH PMG@I>J?@? K


    -FU ##CH?4 CFBQQMJDBUJPOYXXXGPSNVSMFODPEFE
    %@ >G<MRI> CM HPGODK<MOAJMH ?<O< K
    -FU ##CH?4 CFNVMUJQBSUGPSNEBUB
    %@ >G<MRI> CM O@SOKG<DI K
    -FU ##CH?4 CFUFYUQMBJO

    *G <4C7>3 JTBOZUIJOHCVU(&5PS1045 BOEUIF PSJHJO Q PG 02C8>= JTOPUUIF TBNFPSJHJO Q BTUIBUPG
    UIF GPSN Q FMFNFOUT %PDVNFOU Q UIFOBCPSUUIFTFTUFQT

    0UIFSXJTF OBWJHBUF Q C0A64C1A>FB8=62>=C4GC UP 02C8>= VTJOHUIF)551NFUIPEHJWFOCZ <4C7>3 BOE


    XJUI 4=C8CH1>3H BTUIFFOUJUZCPEZ PGUZQF ##CH?4*G C0A64C1A>FB8=62>=C4GC XBTOFXMZDSFBUFE
    GPSUIJTQVSQPTFCZUIFTUFQTBCPWF UIFOJUNVTUCFOBWJHBUFEXJUI SFQMBDFNFOUFOBCMFE Q 

    >E>M>:<MBHG
    -FU C0A64C1A>FB8=62>=C4GC CF UIFGPSNTVCNJTTJPOUBSHFUCSPXTJOHDPOUFYU Q 

    
    *GUIF PSJHJO Q PG 02C8>= JTOPUUIF TBNFPSJHJO Q BTUIBUPGUIF GPSN Q FMFNFOUT %PDVNFOU Q UIFO
    BCPSUUIFTFTUFQT

    0UIFSXJTF OBWJHBUF Q C0A64C1A>FB8=62>=C4GC UP 02C8>= VTJOHUIF%&-&5&NFUIPE*G C0A64C1A>FB8=6


    2>=C4GC XBTOFXMZDSFBUFEGPSUIJTQVSQPTFCZUIFTUFQTBCPWF UIFOJUNVTUCFOBWJHBUFEXJUI
    SFQMBDFNFOUFOBCMFE Q 

    #>M:<MBHG
    -FU C0A64C1A>FB8=62>=C4GC CF UIFGPSNTVCNJTTJPOUBSHFUCSPXTJOHDPOUFYU Q 

    /BWJHBUF Q C0A64C1A>FB8=62>=C4GC UP 02C8>=*G C0A64C1A>FB8=62>=C4GC XBTOFXMZDSFBUFEGPSUIJT


    QVSQPTFCZUIFTUFQTBCPWF UIFOJUNVTUCFOBWJHBUFEXJUI SFQMBDFNFOUFOBCMFE Q 

    ,HLMMH=:M:
    -FU 30C0 CFUIFSFTVMUPGFODPEJOHUIF 5>A<30C0B4C VTJOHUIF BQQSPQSJBUFGPSNFODPEJOHBMHPSJUIN Q 

    *G 02C8>= DPOUBJOTUIFTUSJOH GPVS6 1&3$&/54*(/DIBSBDUFST


    UIFOFTDBQFBMMCZUFTJO
    30C0 UIBU JGJOUFSQSFUFEBT64"4$** EPOPUNBUDIUIF VOSFTFSWFE QSPEVDUJPOJOUIF63*(FOFSJD
    4ZOUBY BOEUIFO USFBUJOHUIFSFTVMUBTB64"4$**TUSJOH GVSUIFSFTDBQFBMMUIF6 1&3$&/5
    4*(/DIBSBDUFSTJOUIFSFTVMUJOHTUSJOHBOESFQMBDFUIFИSTUPDDVSSFODFPGJO 02C8>= XJUIUIF
    SFTVMUJOHEPVCMFFTDBQFETUSJOH <3'$> Q

    0UIFSXJTF JG 02C8>= DPOUBJOTUIFTUSJOH UXP6 1&3$&/54*(/DIBSBDUFSTJOBSPX CVUOPU


    GPVS
    UIFOFTDBQFBMMDIBSBDUFSTJO 30C0 UIBU JGJOUFSQSFUFEBT64"4$** EPOPUNBUDIUIF
    VOSFTFSWFE QSPEVDUJPOJOUIF63*(FOFSJD4ZOUBY BOEUIFO USFBUJOHUIFSFTVMUBTB64"4$**TUSJOH
    SFQMBDFUIFИSTUPDDVSSFODFPGJO 02C8>= XJUIUIFSFTVMUJOHFTDBQFETUSJOH <3'$> Q

    -FU C0A64C1A>FB8=62>=C4GC CF UIFGPSNTVCNJTTJPOUBSHFUCSPXTJOHDPOUFYU Q 

    /BWJHBUF Q C0A64C1A>FB8=62>=C4GC UPUIFQPUFOUJBMMZNPEJИFE 02C8>=*G C0A64C1A>FB8=62>=C4GC XBT


    OFXMZDSFBUFEGPSUIJTQVSQPTFCZUIFTUFQTBCPWF UIFOJUNVTUCFOBWJHBUFEXJUI SFQMBDFNFOU
    FOBCMFE Q 

    ,NMMH=:M:
    -FU 30C0 CFUIFSFTVMUPGFODPEJOHUIF 5>A<30C0B4C VTJOHUIF BQQSPQSJBUFGPSNFODPEJOHBMHPSJUIN Q 

    -FU ##CH?4 CFEFUFSNJOFEBTGPMMPXT

    %@ >G<MRI> CM <KKGD><ODJIS RRR AJMH PMG@I>J?@? K


    -FU ##CH?4 CFBQQMJDBUJPOYXXXGPSNVSMFODPEFE
    %@ >G<MRI> CM HPGODK<MOAJMH ?<O< K
    -FU ##CH?4 CFNVMUJQBSUGPSNEBUB
    %@ >G<MRI> CM O@SOKG<DI K
    -FU ##CH?4 CFUFYUQMBJO

    -FU 34BC8=0C8>= CFUIFSFTVMUPGDPODBUFOBUJOHUIFGPMMPXJOH

     5IFTUSJOHEBUB
     5IFWBMVFPG ##CH?4
     5IFTUSJOHCBTF 
     "CBTFFODPEFESFQSFTFOUBUJPOPG 30C0 <3'$> Q

    -FU C0A64C1A>FB8=62>=C4GC CF UIFGPSNTVCNJTTJPOUBSHFUCSPXTJOHDPOUFYU Q 

    /BWJHBUF Q C0A64C1A>FB8=62>=C4GC UP 34BC8=0C8>=*G C0A64C1A>FB8=62>=C4GC XBTOFXMZDSFBUFEGPS


    UIJTQVSQPTFCZUIFTUFQTBCPWF UIFOJUNVTUCFOBWJHBUFEXJUI SFQMBDFNFOUFOBCMFE Q 

    ):BEPBMAA>:=>KL
    -FU 74034AB CFUIFSFTVMUJOHFODPEJOHUIF 5>A<30C0B4C VTJOHUIF BQQMJDBUJPOYXXXGPSN
    VSMFODPEFE FODPEJOHBMHPSJUIN Q JOUFSQSFUFEBTB64"4$**TUSJOH

    3FQMBDFPDDVSSFODFTPG6 #1-644*(/DIBSBDUFST
    JO 74034AB XJUIUIFTUSJOH

    -FU 34BC8=0C8>= DPOTJTUPGBMMUIFDIBSBDUFSTGSPNUIFИSTUDIBSBDUFSJO 02C8>= UPUIFDIBSBDUFS


    JNNFEJBUFMZCFGPSFUIFИSTU6 '26&45*0/."3,DIBSBDUFS
    JGBOZ PSUIFFOEPGUIFTUSJOHJG
    UIFSFBSFOPOF

    "QQFOEBTJOHMF6 '26&45*0/."3,DIBSBDUFS
    UP 34BC8=0C8>=

    
    "QQFOE 74034AB UP 34BC8=0C8>=

    -FU C0A64C1A>FB8=62>=C4GC CF UIFGPSNTVCNJTTJPOUBSHFUCSPXTJOHDPOUFYU Q 

    /BWJHBUF Q C0A64C1A>FB8=62>=C4GC UP 34BC8=0C8>=*G C0A64C1A>FB8=62>=C4GC XBTOFXMZDSFBUFEGPS


    UIJTQVSQPTFCZUIFTUFQTBCPWF UIFOJUNVTUCFOBWJHBUFEXJUI SFQMBDFNFOUFOBCMFE Q 

    ):BE:L;H=R
    -FU 1>3H CFUIFSFTVMUJOHFODPEJOHUIF 5>A<30C0B4C VTJOHUIF BQQSPQSJBUFGPSNFODPEJOHBMHPSJUIN Q
    BOEUIFOFTDBQJOHBMMUIFCZUFTJOUIFSFTVMUJOHCZUFTUSJOHUIBU XIFOJOUFSQSFUFEBT64"4$** EP
    OPUNBUDIUIF VOSFTFSWFE QSPEVDUJPOJOUIF63*(FOFSJD4ZOUBY <3'$> Q

    -FU 34BC8=0C8>= IBWFUIFTBNFWBMVFBT 02C8>=

    *G 34BC8=0C8>= EPFTOPUDPOUBJOB6 '26&45*0/."3,DIBSBDUFS


    BQQFOEBTJOHMF6 '
    26&45*0/."3,DIBSBDUFS
    UP 34BC8=0C8>=0UIFSXJTF BQQFOEBTJOHMF6 ".1&34"/%
    DIBSBDUFS 
    

    "QQFOEUIFTUSJOHCPEZUP 34BC8=0C8>=

    "QQFOE 1>3H JOUFSQSFUFEBTB64"4$**TUSJOH UP 34BC8=0C8>=

    -FU C0A64C1A>FB8=62>=C4GC CF UIFGPSNTVCNJTTJPOUBSHFUCSPXTJOHDPOUFYU Q 

    /BWJHBUF Q C0A64C1A>FB8=62>=C4GC UP 34BC8=0C8>=*G C0A64C1A>FB8=62>=C4GC XBTOFXMZDSFBUFEGPS


    UIJTQVSQPTFCZUIFTUFQTBCPWF UIFOJUNVTUCFOBWJHBUFEXJUI SFQMBDFNFOUFOBCMFE Q 

    0B?@ILGMO<GCMMCIHN;LA?N<LIQMCHA=IHN?RN JTPCUBJOFE XIFOOFFEFECZUIFCFIBWJPSTEFTDSJCFE


    BCPWF BTGPMMPXT*GUIFVTFSJOEJDBUFEBTQFDJИD CSPXTJOHDPOUFYU Q UPVTFXIFOTVCNJUUJOHUIFGPSN UIFO
    UIBUJTUIFUBSHFUCSPXTJOHDPOUFYU0UIFSXJTF BQQMZ UIFSVMFTGPSDIPPTJOHBCSPXTJOHDPOUFYUHJWFOB
    CSPXTJOHDPOUFYUOBNF Q VTJOH C0A64C BTUIFOBNFBOEUIF CSPXTJOHDPOUFYU Q PG 5>A< BTUIFDPOUFYUJO
    XIJDIUIFBMHPSJUINJTFYFDVUFEUIFSFTVMUJOH CSPXTJOHDPOUFYU Q JTUIFUBSHFUCSPXTJOHDPOUFYU

    5IF ;JJLIJLC;N?@ILG?H=I>CHA;FAILCNBG JTEFUFSNJOFEBTGPMMPXT

    %@ >G<MRI> CM <KKGD><ODJIS RRR AJMH PMG@I>J?@? K


    6TFUIF BQQMJDBUJPOYXXXGPSNVSMFODPEFE FODPEJOHBMHPSJUIN Q 

    %@ >G<MRI> CM HPGODK<MOAJMH ?<O< K


    6TFUIF NVMUJQBSUGPSNEBUB FODPEJOHBMHPSJUIN Q 

    %@ >G<MRI> CM O@SOKG<DI K


    6TFUIF UFYUQMBJO FODPEJOHBMHPSJUIN Q 

        1.( ?H=I>?>@ILG>;N;

    5IF <KKGD><ODJIS RRR AJMH PMG@I>J?@? ?H=I>CHA;FAILCNBG JTBTGPMMPXT

     -FU A4BD;C CFUIFFNQUZTUSJOH

     *GUIF GPSN Q FMFNFOUIBTBO BDDFQUDIBSTFU Q BUUSJCVUF UIFO UBLJOHJOUPBDDPVOUUIFDIBSBDUFSTGPVOE


    JOUIF 5>A<30C0B4CTOBNFTBOEWBMVFT BOEUIFDIBSBDUFSFODPEJOHTTVQQPSUFECZUIFVTFSBHFOU TFMFDUB
    DIBSBDUFSFODPEJOHGSPNUIFMJTUHJWFOJOUIF GPSN Q T BDDFQUDIBSTFU Q BUUSJCVUFUIBUJTBO "4$**
    DPNQBUJCMFDIBSBDUFSFODPEJOH Q *GOPOFPGUIFFODPEJOHTBSFTVQQPSUFE UIFOMFUUIFTFMFDUFEDIBSBDUFS
    FODPEJOHCF65'

    0UIFSXJTF JGUIF EPDVNFOUTDIBSBDUFSFODPEJOH Q JTBO "4$**DPNQBUJCMFDIBSBDUFSFODPEJOH Q UIFOUIBU


    JTUIFTFMFDUFEDIBSBDUFSFODPEJOH

    0UIFSXJTF MFUUIFTFMFDUFEDIBSBDUFSFODPEJOHCF65'

     -FU 270AB4C CFUIF QSFGFSSFE.*.&OBNF Q PGUIFTFMFDUFEDIBSBDUFSFODPEJOH

     'PSFBDIFOUSZJOUIF 5>A<30C0B4C QFSGPSNUIFTFTVCTUFQT

     *GUIFFOUSZTOBNFJT@DIBSTFU@BOEJUTUZQFJTIJEEFO SFQMBDFJUTWBMVFXJUI 270AB4C

     *GUIFFOUSZTUZQFJTGJMF SFQMBDFJUTWBMVFXJUIUIFИMFTИMFOBNFPOMZ

    
     'PSFBDIDIBSBDUFSJOUIFFOUSZTOBNFBOEWBMVFUIBUDBOOPUCFFYQSFTTFEVTJOHUIFTFMFDUFE
    DIBSBDUFSFODPEJOH SFQMBDFUIFDIBSBDUFSCZBTUSJOHDPOTJTUJOHPGB6 ".1&34"/%
    DIBSBDUFS 
    B6 /6.#&34*(/DIBSBDUFS 
    POFPSNPSFDIBSBDUFSTJOUIFSBOHF
    6 %*(*5;&30 
    UP6 %*(*5/*/& 
    SFQSFTFOUJOHUIF6OJDPEFDPEFQPJOUPGUIF
    DIBSBDUFSJOCBTFUFO BOEИOBMMZB6 #4&.*$0-0/DIBSBDUFS 
    

     'PSFBDIDIBSBDUFSJOUIFFOUSZTOBNFBOEWBMVF BQQMZUIFBQQSPQSJBUFTVCTVCTUFQTGSPNUIF
    GPMMPXJOHMJTU

    X 0B?=B;L;=N?LCM;1 /,!=B;L;=N?L
    3FQMBDFUIFDIBSBDUFSXJUIBTJOHMF6 #1-644*(/DIBSBDUFS
    

    X %@NB?=B;L;=N?LCMHNCHNB?L;HA?1 
    1 
    1 
    1 !
    1 NI
    1 
    1 NI1 
    1 "
    1 NI1 
    3FQMBDFUIFDIBSBDUFSXJUIBTUSJOHGPSNFEBTGPMMPXT

     -FU B CFBOFNQUZTUSJOH

     'PSFBDICZUF 1 PGUIFDIBSBDUFSXIFOFYQSFTTFEJOUIFTFMFDUFEDIBSBDUFS
    FODPEJOHJOUVSO SVOUIFBQQSPQSJBUFTVCTVCTVCTUFQGSPNUIFMJTUCFMPX

    X %@NB?<SN?CMCHNB?L;HA?R
    R
    R
    R!
    RNIR

    RNIR
    R"
    RNIR
    "QQFOEUP B UIF6OJDPEFDIBSBDUFSXJUIUIFDPEFQPJOUFRVBMUPUIF
    CZUF

    X +NB?LQCM?
    "QQFOEUPUIFTUSJOHB6 1&3$&/54*(/DIBSBDUFS 
    GPMMPXFE
    CZUXPDIBSBDUFSTJOUIFSBOHFT6 %*(*5;&30 
    UP6 
    %*(*5/*/& 
    BOE6 -"5*/$"1*5"--&55&3"UP6 
    -"5*/$"1*5"--&55&3'SFQSFTFOUJOHUIFIFYBEFDJNBMWBMVFPGUIF
    CZUF [FSPQBEEFEJGOFDFTTBSZ
    

    X +NB?LQCM?
    -FBWFUIFDIBSBDUFSBTJT

     *GUIFFOUSZTOBNFJTJTJOEFY JUTUZQFJTUFYU BOEUIJTJTUIFИSTUFOUSZJOUIF 5>A<30C0B4C


    UIFOBQQFOEUIFWBMVFUP A4BD;C BOETLJQUIFSFTUPGUIFTVCTUFQTGPSUIJTFOUSZ NPWJOHPOUPUIF
    OFYUFOUSZ JGBOZ PSUIFOFYUTUFQJOUIFPWFSBMMBMHPSJUINPUIFSXJTF

     *GUIJTJTOPUUIFИSTUFOUSZ BQQFOEBTJOHMF6 ".1&34"/%DIBSBDUFS 


    UP A4BD;C

     "QQFOEUIFFOUSZTOBNFUP A4BD;C

     "QQFOEBTJOHMF6 %&26"-44*(/DIBSBDUFS 
    UP A4BD;C

     "QQFOEUIFFOUSZTWBMVFUP A4BD;C

     &ODPEF A4BD;C BT64"4$**BOESFUVSOUIFSFTVMUJOHCZUFTUSFBN

        )OFNCJ;LN@ILG>;N;

    5IF HPGODK<MOAJMH ?<O< ?H=I>CHA;FAILCNBG JTUPFODPEFUIF 5>A<30C0B4C VTJOHUIFSVMFTEFTDSJCFECZ


    3'$ (4CDA=8=6,0;D4B5A><>A<B %-$,"(*,'*%, BOESFUVSOUIFSFTVMUJOHCZUFTUSFBN <3'$> Q

    &BDIFOUSZJOUIF 5>A<30C0B4C JTB P4;3 UIFOBNFPGUIFFOUSZJTUIF P4;3=0<4 BOEUIFWBMVFPGUIFFOUSZJTUIF P4;3


    E0;D4 VOMFTTUIFFOUSZTOBNFJT@DIBSTFU@BOEJUTUZQFJTIJEEFO JOXIJDIDBTFUIF P4;3E0;D4 JTUIFDIBSBDUFS
    FODPEJOHVTFECZUIFBGPSFNFOUJPOFEBMHPSJUINUPFODPEFUIFWBMVFPGUIFИFME

    5IFPSEFSPGQBSUTNVTUCFUIFTBNFBTUIFPSEFSPGИFMETJOUIF 5>A<30C0B4C.VMUJQMFFOUSJFTXJUIUIFTBNFOBNF
    NVTUCFUSFBUFEBTEJTUJODUИFMET

        ,F;CHN?RN@ILG>;N;

    5IF O@SOKG<DI ?H=I>CHA;FAILCNBG JTBTGPMMPXT

     -FU A4BD;C CFUIFFNQUZTUSJOH

    
     *GUIF GPSN Q FMFNFOUIBTBO BDDFQUDIBSTFU Q BUUSJCVUF UIFO UBLJOHJOUPBDDPVOUUIFDIBSBDUFSTGPVOE
    JOUIF 5>A<30C0B4CTOBNFTBOEWBMVFT BOEUIFDIBSBDUFSFODPEJOHTTVQQPSUFECZUIFVTFSBHFOU TFMFDUB
    DIBSBDUFSFODPEJOHGSPNUIFMJTUHJWFOJOUIF GPSN Q T BDDFQUDIBSTFU Q BUUSJCVUF*GOPOFPGUIF
    FODPEJOHTBSFTVQQPSUFE UIFOMFUUIFTFMFDUFEDIBSBDUFSFODPEJOHCF65'

    0UIFSXJTF UIFTFMFDUFEDIBSBDUFSFODPEJOHJTUIF EPDVNFOUTDIBSBDUFSFODPEJOH Q 

     -FU 270AB4C CFUIF QSFGFSSFE.*.&OBNF Q PGUIFTFMFDUFEDIBSBDUFSFODPEJOH

     *GUIFFOUSZTOBNFJT@DIBSTFU@BOEJUTUZQFJTIJEEFO SFQMBDFJUTWBMVFXJUI 270AB4C

     *GUIFFOUSZTUZQFJTGJMF SFQMBDFJUTWBMVFXJUIUIFИMFTИMFOBNFPOMZ

     'PSFBDIFOUSZJOUIF 5>A<30C0B4C QFSGPSNUIFTFTVCTUFQT

     "QQFOEUIFFOUSZTOBNFUP A4BD;C

     "QQFOEBTJOHMF6 %&26"-44*(/DIBSBDUFS 
    UP A4BD;C

     "QQFOEUIFFOUSZTWBMVFUP A4BD;C

     "QQFOEB6 %$"33*"(&3&563/ $3
    6 "-*/&'&&% -'
    DIBSBDUFSQBJSUP A4BD;C

     &ODPEF A4BD;C VTJOHUIFTFMFDUFEDIBSBDUFSFODPEJOHBOESFUVSOUIFSFTVMUJOHCZUFTUSFBN

       .?M?NNCHA;@ILG

    8IFOBGPSN 5>A< JT L?M?N UIFVTFSBHFOUNVTU ИSFBTJNQMFFWFOU Q OBNFE SFTFU UIBUJTDBODFMBCMF BU 5>A< BOE
    UIFO JGUIBUFWFOUJTOPUDBODFMFE NVTUJOWPLFUIF SFTFUBMHPSJUIN Q PGFBDI SFTFUUBCMFFMFNFOUT Q XIPTF GPSN
    PXOFS Q JT 5>A< BOE CSPBEDBTU GPSNDIBOHF FWFOUT Q GSPN 5>A<

    &BDI SFTFUUBCMFFMFNFOU Q EFИOFTJUTPXO L?M?N;FAILCNBG$IBOHFTNBEFUPGPSNDPOUSPMTBTQBSUPGUIFTF


    BMHPSJUINTEPOPUDPVOUBTDIBOHFTDBVTFECZUIFVTFS BOEUIVT FH EPOPUDBVTF JOQVU FWFOUTUPИSF
    

       !P?HN>CMJ;N=B

    8IFOUIFVTFSBHFOUJTUP <LI;>=;MN AJMHDIKPO ?P?HNM PS <LI;>=;MN AJMH>C<IB@ ?P?HNM GSPNB GPSN Q FMFNFOU
    5>A< JUNVTUSVOUIFGPMMPXJOHTUFQT

     -FU 2>=CA>;B CFBMJTUPGBMMUIF SFTFUUBCMFFMFNFOUT Q XIPTF GPSNPXOFS Q JT 5>A<

     *GUIFVTFSBHFOUXBTUP CSPBEDBTU GPSNJOQVU FWFOUT Q MFU 4E4=C=0<4 CF GPSNJOQVU0UIFSXJTFUIFVTFS


    BHFOUXBTUP CSPBEDBTU GPSNDIBOHF FWFOUT Q MFU 4E4=C=0<4 CF GPSNDIBOHF

     'PSFBDIFMFNFOUJO 2>=CA>;B JO USFFPSEFS Q ИSFBTJNQMFFWFOU Q OBNFE 4E4=C=0<4 BUUIFFMFNFOU

      %HN?L;=NCP??F?G?HNM

       0B? ?@O<DGN ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    4FDUJPOJOHSPPU Q 
    *OUFSBDUJWFDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    0OF TVNNBSZ Q FMFNFOUGPMMPXFECZ ЙPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    PQFO Q

    
    +)CHN?L@;=?

    JOUFSGBDF &2+*"@O<DGN#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO PQFO
    ^

    5IF EFUBJMT Q FMFNFOU SFQSFTFOUT Q BEJTDMPTVSFXJEHFUGSPNXIJDIUIFVTFSDBOPCUBJOBEEJUJPOBMJOGPSNBUJPOPS


    DPOUSPMT

    *HM> 0A> =>M:BEL I >E>F>GMBLGHM:IIKHIKB:M>?HK?HHMGHM>L ,E>:L>L>> MA>L><MBHGHG


    ?HHMGHM>L I ?HK=>M:BELHGAHPMHF:KDNI?HHMGHM>L

    5IF ИSTU TVNNBSZ Q FMFNFOUDIJMEPGUIFFMFNFOU JGBOZ SFQSFTFOUT Q UIFTVNNBSZPSMFHFOEPGUIFEFUBJMT *GUIFSF
    JTOPDIJME TVNNBSZ Q FMFNFOU UIFVTFSBHFOUTIPVMEQSPWJEFJUTPXOMFHFOE FH%FUBJMT
    

    5IF JK@I DPOUFOUBUUSJCVUFJTB CPPMFBOBUUSJCVUF Q *GQSFTFOU JUJOEJDBUFTUIBUUIFEFUBJMTBSFUPCFTIPXOUPUIFVTFS


    *GUIFBUUSJCVUFJTBCTFOU UIFEFUBJMTBSFOPUUPCFTIPXO

    *GUIFBUUSJCVUFJTSFNPWFE UIFOUIFEFUBJMTTIPVMECFIJEEFO*GUIFBUUSJCVUFJTBEEFE UIFEFUBJMTTIPVMECFTIPXO

    5IFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPSFRVFTUUIBUUIFEFUBJMTCFTIPXOPSIJEEFO5PIPOPSBSFRVFTUGPSUIFEFUBJMT
    UPCFTIPXO UIFVTFSBHFOUNVTUTFUUIF PQFO Q BUUSJCVUFPOUIFFMFNFOUUPUIFWBMVF PQFO5PIPOPSBSFRVFTUGPS
    UIFEFUBJMTUPCFIJEEFO UIFVTFSBHFOUNVTUSFNPWFUIF PQFO Q BUUSJCVUFGSPNUIFFMFNFOU

    5IF JK@I BUUSJCVUFNVTU SFЙFDU Q UIF PQFO Q DPOUFOUBUUSJCVUF

    5IFGPMMPXJOHFYBNQMFTIPXTUIF EFUBJMT Q FMFNFOUCFJOHVTFEUPIJEFUFDIOJDBMEFUBJMTJOBQSPHSFTTSFQPSU

    TFDUJPODMBTTQSPHSFTTXJOEPX
    I$PQZJOH3FBMMZ"DIJFWJOH:PVS$IJMEIPPE%SFBNTI
    EFUBJMT
    TVNNBSZ$PQZJOHQSPHSFTTNBYWBMVFQSPHSFTTTVNNBSZ
    EM
    EU5SBOTGFSSBUFEUEE,#TEE
    EU-PDBMGJMFOBNFEUEEIPNFSQBVTDISBZDENWEE
    EU3FNPUFGJMFOBNFEUEEWBSXXXMFDUVSFTSBZDENWEE
    EU%VSBUJPOEUEEEE
    EU$PMPSQSPGJMFEUEE4% 
    EE
    EU%JNFOTJPOTEUEEdEE
    EM
    EFUBJMT
    TFDUJPO

    5IFGPMMPXJOHTIPXTIPXB EFUBJMT Q FMFNFOUDBOCFVTFEUPIJEFTPNFDPOUSPMTCZEFGBVMU

    EFUBJMT
    TVNNBSZ/BNF&YUFOTJPOTVNNBSZ
    QJOQVUUZQFUFYUOBNFGOWBMVF1JMMBS.BHB[JOFQEG
    QMBCFMJOQVUUZQFDIFDLCPYOBNFFYUDIFDLFE)JEFFYUFOTJPOMBCFM
    EFUBJMT

    0OFDPVMEVTFUIJTJODPOKVDUJPOXJUIPUIFS EFUBJMT Q JOBMJTUUPBMMPXUIFVTFSUPDPMMBQTFBTFUPGИFMETEPXO


    UPBTNBMMTFUPGIFBEJOHT XJUIUIFBCJMJUZUPPQFOFBDIPOF

    
    
    *OUIFTFFYBNQMFT UIFTVNNBSZSFBMMZKVTUTVNNBSJTFTXIBUUIFDPOUSPMTDBODIBOHF BOEOPUUIFBDUVBM
    WBMVFT XIJDIJTMFTTUIBOJEFBM

       0B? NPHH<MT ?F?G?HN

    ;N?AILC?M
    /POF

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    "TUIFИSTUDIJMEPGB EFUBJMT Q FMFNFOU

    IHN?HNGI>?F
    1ISBTJOHDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q

    
    +)CHN?L@;=?
    6TFT )5.-&MFNFOU Q 

    5IF TVNNBSZ Q FMFNFOU SFQSFTFOUT Q BTVNNBSZ DBQUJPO PSMFHFOEGPSUIFSFTUPGUIFDPOUFOUTPGUIF TVNNBSZ Q
    FMFNFOUTQBSFOU EFUBJMT Q FMFNFOU JGBOZ

       0B? >JHH<I? ?F?G?HN

    ;N?AILC?M
    .FUBEBUBDPOUFOU Q 
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF NFUBEBUBDPOUFOU Q JTFYQFDUFE
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    UZQF Q
    MBCFM Q
    JDPO Q
    EJTBCMFE Q
    DIFDLFE Q
    SBEJPHSPVQ Q
    "MTP UIF UJUMF Q BUUSJCVUFIBTTQFDJBMTFNBOUJDTPOUIJTFMFNFOU

    +)CHN?L@;=?

    JOUFSGBDF &2+*!JHH<I?#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH MBCFM
    BUUSJCVUF%0.4USJOH JDPO
    BUUSJCVUFCPPMFBO EJTBCMFE
    BUUSJCVUFCPPMFBO DIFDLFE
    BUUSJCVUF%0.4USJOH SBEJPHSPVQ
    ^

    5IF DPNNBOE Q FMFNFOUSFQSFTFOUTBDPNNBOEUIBUUIFVTFSDBOJOWPLF

    5IF OTK@ BUUSJCVUFJOEJDBUFTUIFLJOEPGDPNNBOEFJUIFSBOPSNBMDPNNBOEXJUIBOBTTPDJBUFEBDUJPO PSBTUBUFPS


    PQUJPOUIBUDBOCFUPHHMFE PSBTFMFDUJPOPGPOFJUFNGSPNBMJTUPGJUFNT

    5IFBUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q XJUIUISFFLFZXPSETBOETUBUFT5IF>JHH<I?LFZXPSENBQTUPUIF


    $PNNBOE Q TUBUF UIF>C@>F=JSLFZXPSENBQTUPUIF $IFDLCPY Q TUBUF BOEUIFM<?DJLFZXPSENBQTUPUIF
    3BEJP Q TUBUF5IF <8BB8=6E0;D43450D;C JTUIF $PNNBOE Q TUBUF

    0B? HFF:G= MN;N?


    5IFFMFNFOU SFQSFTFOUT Q BOPSNBMDPNNBOEXJUIBOBTTPDJBUFEBDUJPO

    0B? A><D;HQ MN;N?


    5IFFMFNFOU SFQSFTFOUT Q BTUBUFPSPQUJPOUIBUDBOCFUPHHMFE

    0B? .:=BH MN;N?


    5IFFMFNFOU SFQSFTFOUT Q BTFMFDUJPOPGPOFJUFNGSPNBMJTUPGJUFNT

    5IF G<=@G BUUSJCVUFHJWFTUIFOBNFPGUIFDPNNBOE BTTIPXOUPUIFVTFS5IF MBCFM Q BUUSJCVUFNVTUCFTQFDJИFE


    BOENVTUIBWFBWBMVFUIBUJTOPUUIFFNQUZTUSJOH

    5IF ODOG@ BUUSJCVUFHJWFTBIJOUEFTDSJCJOHUIFDPNNBOE XIJDINJHIUCFTIPXOUPUIFVTFSUPIFMQIJN

    
    5IF D>JI BUUSJCVUFHJWFTBQJDUVSFUIBUSFQSFTFOUTUIFDPNNBOE*GUIFBUUSJCVUFJTTQFDJИFE UIFBUUSJCVUFTWBMVFNVTU
    DPOUBJOB WBMJEOPOFNQUZ63- Q  5PPCUBJOUIF BCTPMVUF63- Q PGUIFJDPOXIFOUIFBUUSJCVUFTWBMVFJTOPUUIFFNQUZ
    TUSJOH UIFBUUSJCVUFTWBMVFNVTUCF SFTPMWFE Q SFMBUJWFUPUIFFMFNFOU8IFOUIFBUUSJCVUFJTBCTFOU PSJUTWBMVFJT
    UIFFNQUZTUSJOH PS SFTPMWJOH Q JUTWBMVFGBJMT UIFSFJTOPJDPO

    5IF ?DN<=G@? BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q UIBU JGQSFTFOU JOEJDBUFTUIBUUIFDPNNBOEJTOPUBWBJMBCMFJOUIF


    DVSSFOUTUBUF

    *HM> 0A>=BLMBG<MBHG;>MP>>G =BL:;E>= I :G= AB==>G I BLLN;ME> <HFF:G=PHNE=;>=BL:;E>=


    B? BGMA>L:F><HGM>QM BM<HNE=;>>G:;E>=B?HGER<>KM:BG:LI><MLH?MA>LBMN:MBHGP>K><A:G@>=
    <HFF:G=PHNE=;>F:KD>=:LAB==>GB? BGMA:MLBMN:MBHG MA><HFF:G=PBEEG>O>K;>>G:;E>=
    "HK>Q:FIE> BGMA><HGM>QMF>GN?HK:P:M>K?:N<>M MA><HFF:G=HI>GFB@AM;>=BL:;E>=B?
    MA>?:N<>MBL:EK>:=RHI>G ;NMMA><HFF:G=>:MPHNE=;>F:KD>=AB==>GLBG<>MA>?:N<>M<HNE=
    G>O>K;>>:M>G

    5IF >C@>F@? BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q UIBU JGQSFTFOU JOEJDBUFTUIBUUIFDPNNBOEJTTFMFDUFE5IFBUUSJCVUF


    NVTUCFPNJUUFEVOMFTTUIF UZQF Q BUUSJCVUFJTJOFJUIFSUIF $IFDLCPY Q TUBUFPSUIF 3BEJP Q TUBUF

    5IF M<?DJBMJPK BUUSJCVUFHJWFTUIFOBNFPGUIFHSPVQPGDPNNBOETUIBUXJMMCFUPHHMFEXIFOUIFDPNNBOEJUTFMGJT


    UPHHMFE GPSDPNNBOETXIPTF UZQF Q BUUSJCVUFIBTUIFWBMVFSBEJP5IFTDPQFPGUIFOBNFJTUIFDIJMEMJTUPGUIF
    QBSFOUFMFNFOU5IFBUUSJCVUFNVTUCFPNJUUFEVOMFTTUIF UZQF Q BUUSJCVUFJTJOUIF 3BEJP Q TUBUF

    5IF OTK@ G<=@G D>JI ?DN<=G@? >C@>F@? BOE M<?DJBMJPK *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOU
    BUUSJCVUFTPGUIFTBNFOBNF

    5IFFMFNFOUT BDUJWBUJPOCFIBWJPS Q EFQFOETPOUIFWBMVFPGUIF UZQF Q BUUSJCVUFPGUIFFMFNFOU BTGPMMPXT


    K
    X %@NB? OTK@ ;NNLC<ON?CMCHNB? B?=E<IR J MN;N?
    *GUIFFMFNFOUIBTB DIFDLFE Q BUUSJCVUF UIF6"NVTUSFNPWFUIBUBUUSJCVUF0UIFSXJTF UIF6"NVTUBEEB
    DIFDLFE Q BUUSJCVUF XJUIUIFMJUFSBMWBMVF DIFDLFE5IF6"NVTUUIFO ИSFB DMJDL FWFOU Q BUUIFFMFNFOU
    K
    X %@NB? OTK@ ;NNLC<ON?CMCHNB? .;>CI J MN;N?
    *GUIFFMFNFOUIBTBQBSFOU UIFOUIF6"NVTUXBMLUIFMJTUPGDIJMEOPEFTPGUIBUQBSFOUFMFNFOU BOEGPS
    FBDIOPEFUIBUJTB DPNNBOE Q FMFNFOU JGUIBUFMFNFOUIBTB SBEJPHSPVQ Q BUUSJCVUFXIPTFWBMVFFYBDUMZ
    NBUDIFTUIFDVSSFOUFMFNFOUT USFBUJOHNJTTJOH SBEJPHSPVQ Q BUUSJCVUFTBTJGUIFZXFSFUIFFNQUZTUSJOH

    BOEIBTB DIFDLFE Q BUUSJCVUF NVTUSFNPWFUIBUBUUSJCVUF

    5IFO UIFFMFNFOUT DIFDLFE Q BUUSJCVUFBUUSJCVUFNVTUCFTFUUPUIFMJUFSBMWBMVF DIFDLFE BOEUIFVTFS


    BHFOUNVTU ИSFB DMJDL FWFOU Q BUUIFFMFNFOU

    X +NB?LQCM?
    5IFFMFNFOUIBTOP BDUJWBUJPOCFIBWJPS Q 

    *HM> "BKBG@:LRGMA>MB< <EB<D I >O>GM:MMA>>E>F>GM=H>LGHM<:NL>:GRH?MA>:<MBHGL=>L<KB;>=


    :;HO>MHA:II>G

    *HM> <HFF:G= I >E>F>GML:K>GHMK>G=>K>=NGE>LLMA>R ?HKFI:KMH?:F>GN I

    )FSFJTBOFYBNQMFPGBUPPMCBSXJUIUISFFCVUUPOTUIBUMFUUIFVTFSUPHHMFCFUXFFOMFGU DFOUFS BOESJHIU


    BMJHONFOU0OFDPVMEJNBHJOFTVDIBUPPMCBSBTQBSUPGBUFYUFEJUPS5IFUPPMCBSBMTPIBTBTFQBSBUPSGPMMPXFE
    CZBOPUIFSCVUUPOMBCFMFE1VCMJTI UIPVHIUIBUCVUUPOJTEJTBCMFE

    NFOVUZQFUPPMCBS
    DPNNBOEUZQFSBEJPSBEJPHSPVQBMJHONFOUDIFDLFEDIFDLFE
    MBCFM-FGUJDPOJDPOTBM-QOHPODMJDLTFU"MJHO MFGU
    
    DPNNBOEUZQFSBEJPSBEJPHSPVQBMJHONFOU
    MBCFM$FOUFSJDPOJDPOTBM$QOHPODMJDLTFU"MJHO DFOUFS
    
    DPNNBOEUZQFSBEJPSBEJPHSPVQBMJHONFOU
    MBCFM3JHIUJDPOJDPOTBM3QOHPODMJDLTFU"MJHO SJHIU
    
    IS
    DPNNBOEUZQFDPNNBOEEJTBCMFE
    MBCFM1VCMJTIJDPOJDPOTQVCQOHPODMJDLQVCMJTI
    
    NFOV

    
       0B? H@IP ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    *GUIFFMFNFOUT UZQF Q BUUSJCVUFJTJOUIF UPPMCBS Q TUBUF *OUFSBDUJWFDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF ЙPXDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &JUIFS;FSPPSNPSF MJ Q FMFNFOUT
    0S 'MPXDPOUFOU Q 

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    UZQF Q
    MBCFM Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*+@IP#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH MBCFM
    ^

    5IF NFOV Q FMFNFOUSFQSFTFOUTBMJTUPGDPNNBOET

    5IF OTK@ BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q JOEJDBUJOHUIFLJOEPGNFOVCFJOHEFDMBSFE5IFBUUSJCVUFIBTUISFF


    TUBUFT5IF DPOUFYU LFZXPSENBQTUPUIF =IHN?RNG?HO TUBUF JOXIJDIUIFFMFNFOUJTEFDMBSJOHBDPOUFYUNFOV5IF
    UPPMCBS LFZXPSENBQTUPUIF NIIF<;L TUBUF JOXIJDIUIFFMFNFOUJTEFDMBSJOHBUPPMCBS5IFBUUSJCVUFNBZBMTPCF
    PNJUUFE5IF <8BB8=6E0;D43450D;C JTUIF FCMN TUBUF XIJDIJOEJDBUFTUIBUUIFFMFNFOUJTNFSFMZBMJTUPGDPNNBOETUIBU
    JTOFJUIFSEFDMBSJOHBDPOUFYUNFOVOPSEFИOJOHBUPPMCBS

    *GB NFOV Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF DPOUFYUNFOV Q TUBUF UIFOUIFFMFNFOU SFQSFTFOUT Q UIF
    DPNNBOETPGBDPOUFYUNFOV BOEUIFVTFSDBOPOMZJOUFSBDUXJUIUIFDPNNBOETJGUIBUDPOUFYUNFOVJTBDUJWBUFE

    *GB NFOV Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF UPPMCBS Q TUBUF UIFOUIFFMFNFOU SFQSFTFOUT Q BMJTUPGBDUJWF
    DPNNBOETUIBUUIFVTFSDBOJNNFEJBUFMZJOUFSBDUXJUI

    *GB NFOV Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF MJTU Q TUBUF UIFOUIFFMFNFOUFJUIFS SFQSFTFOUT Q BOVOPSEFSFEMJTU
    PGJUFNT FBDISFQSFTFOUFECZBO MJ Q FMFNFOU
    FBDIPGXIJDISFQSFTFOUTBDPNNBOEUIBUUIFVTFSDBOQFSGPSNPS
    BDUJWBUF PS JGUIFFMFNFOUIBTOP MJ Q FMFNFOUDIJMESFO ЙPXDPOUFOU Q EFTDSJCJOHBWBJMBCMFDPNNBOET

    5IF G<=@G BUUSJCVUFHJWFTUIFMBCFMPGUIFNFOV*UJTVTFECZVTFSBHFOUTUPEJTQMBZOFTUFENFOVTJOUIF6*'PS


    FYBNQMF BDPOUFYUNFOVDPOUBJOJOHBOPUIFSNFOVXPVMEVTFUIFOFTUFENFOVT MBCFM Q BUUSJCVUFGPSUIFTVCNFOVT
    NFOVMBCFM

    5IF OTK@ BOE G<=@G *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

        %HNLI>O=NCIH

    *78BB42C8>=8B=>==>A<0C8E4

    5IF NFOV Q FMFNFOUJTVTFEUPEFИOFDPOUFYUNFOVTBOEUPPMCBST

    'PSFYBNQMF UIFGPMMPXJOHSFQSFTFOUTBUPPMCBSXJUIUISFFNFOVCVUUPOTPOJU FBDIPGXIJDIIBTBESPQEPXONFOV


    XJUIBTFSJFTPGPQUJPOT

    NFOVUZQFUPPMCBS
    MJ
    NFOVMBCFM'JMF
    CVUUPOUZQFCVUUPOPODMJDLGOFX
    /FXCVUUPO
    CVUUPOUZQFCVUUPOPODMJDLGPQFO
    0QFOCVUUPO
    CVUUPOUZQFCVUUPOPODMJDLGTBWF
    4BWFCVUUPO
    CVUUPOUZQFCVUUPOPODMJDLGTBWFBT
    4BWFBTCVUUPO
    NFOV
    MJ
    MJ

    
    NFOVMBCFM&EJU
    CVUUPOUZQFCVUUPOPODMJDLFDPQZ
    $PQZCVUUPO
    CVUUPOUZQFCVUUPOPODMJDLFDVU
    $VUCVUUPO
    CVUUPOUZQFCVUUPOPODMJDLFQBTUF
    1BTUFCVUUPO
    NFOV
    MJ
    MJ
    NFOVMBCFM)FMQ
    MJBISFGIFMQIUNM)FMQBMJ
    MJBISFGBCPVUIUNM"CPVUBMJ
    NFOV
    MJ
    NFOV

    *OBTVQQPSUJOHVTFSBHFOU UIJTNJHIUMPPLMJLFUIJT

    *OBMFHBDZVTFSBHFOU UIFBCPWFXPVMEMPPLMJLFBCVMMFUFEMJTUXJUIUISFFJUFNT UIFИSTUPGXIJDIIBTGPVSCVUUPOT


    UIFTFDPOEPGXIJDIIBTUISFF BOEUIFUIJSEPGXIJDIIBTUXPOFTUFECVMMFUQPJOUTXJUIUXPJUFNTDPOTJTUJOHPGMJOLT

    5IFGPMMPXJOHJNQMFNFOUTBTJNJMBSUPPMCBS XJUIBTJOHMFCVUUPOXIPTFWBMVFT XIFOTFMFDUFE SFEJSFDUUIFVTFSUP8FC


    TJUFT

    GPSNBDUJPOSFEJSFDUDHJ
    NFOVUZQFUPPMCBS
    MBCFMGPSHPUP(PUPMBCFM
    NFOVMBCFM(P
    TFMFDUJEHPUP
    PQUJPOWBMVFTFMFDUFETFMFDUFE4FMFDUTJUFPQUJPO
    PQUJPOWBMVFIUUQXXXBQQMFDPN"QQMFPQUJPO
    PQUJPOWBMVFIUUQXXXNP[JMMBPSH.P[JMMBPQUJPO
    PQUJPOWBMVFIUUQXXXPQFSBDPN0QFSBPQUJPO
    TFMFDU
    TQBOJOQVUUZQFTVCNJUWBMVF(PTQBO
    NFOV
    NFOV
    GPSN

    5IFCFIBWJPSJOTVQQPSUJOHVTFSBHFOUTJTTJNJMBSUPUIFFYBNQMFBCPWF CVUIFSFUIFMFHBDZCFIBWJPSDPOTJTUTPGB
    TJOHMF TFMFDU Q FMFNFOUXJUIBTVCNJUCVUUPO5IFTVCNJUCVUUPOEPFTOUBQQFBSJOUIFUPPMCBS CFDBVTFJUJTOPUB
    EJSFDUDIJMEPGUIF NFOV Q FMFNFOUPSPGJUT MJ Q DIJMESFO

        OCF>CHAG?HOM;H>NIIF<;LM

    "NFOV PSUPPMCBS
    DPOTJTUTPGBMJTUPG[FSPPSNPSFPGUIFGPMMPXJOHDPNQPOFOUT

    Ǭ $PNNBOET Q XIJDIDBOCFNBSLFEBTEFGBVMUDPNNBOET


    Ǭ 4FQBSBUPST
    Ǭ 0UIFSNFOVT XIJDIBMMPXTUIFMJTUUPCFOFTUFE

    5IFMJTUDPSSFTQPOEJOHUPBQBSUJDVMBS NFOV Q FMFNFOUJTCVJMUCZJUFSBUJOHPWFSJUTDIJMEOPEFT'PSFBDIDIJMEOPEFJO


    USFFPSEFS Q UIFSFRVJSFECFIBWJPSEFQFOETPOXIBUUIFOPEFJT BTGPMMPXT
    J
    X H?F?G?HNNB;N >?]H?M;=IGG;H>
    "QQFOEUIFDPNNBOEUPUIFNFOV SFTQFDUJOHJUT GBDFUT Q 

    
    K
    X H CM ?F?G?HN
    K
    X H JKODJI ?F?G?HNNB;NB;M; Q<GP@ K ;NNLC<ON?M?NNINB??GJNSMNLCHA
    ;H>B;M; ?DN<=G@? K
    ;NNLC<ON?
    ;H>QBIM? O@SO!JIO@IO K =IHMCMNMI@;MNLCHAI@IH?ILGIL?BSJB?HM1  $5,$!*
    )%*1/
    "QQFOEBTFQBSBUPSUPUIFNFOV
    K
    X H GD ?F?G?HN
    K
    X  G<=@G ?F?G?HN
    *UFSBUFPWFSUIFDIJMESFOPGUIFFMFNFOU
    K
    X  H@IP ?F?G?HNQCNBHI G<=@G K ;NNLC<ON?
    K
    X  N@G@>O ?F?G?HN
    "QQFOEBTFQBSBUPSUPUIFNFOV UIFOJUFSBUFPWFSUIFDIJMESFOPGUIF NFOV Q PS TFMFDU Q FMFNFOU UIFO
    BQQFOEBOPUIFSTFQBSBUPS
    K
    X  H@IP ?F?G?HNQCNB; G<=@G K ;NNLC<ON?
    K
    X H JKOBMJPK ?F?G?HNQCNB; G<=@G K ;NNLC<ON?
    "QQFOEBTVCNFOVUPUIFNFOV VTJOHUIFWBMVFPGUIFFMFNFOUT MBCFM BUUSJCVUFBTUIFMBCFMPGUIFNFOV
    5IFTVCNFOVNVTUCFDPOTUSVDUFECZUBLJOHUIFFMFNFOUBOEDSFBUJOHBOFXNFOVGPSJUVTJOHUIFDPNQMFUF
    QSPDFTTEFTDSJCFEJOUIJTTFDUJPO

    X HSINB?LHI>?
    *HOPSF Q UIFOPEF

    0ODFBMMUIFOPEFTIBWFCFFOQSPDFTTFEBTEFTDSJCFEBCPWF UIFVTFSBHFOUNVTUUIFQPTUQSPDFTTUIFNFOVBT
    GPMMPXT

     &YDFQUGPSTFQBSBUPST BOZNFOVJUFNXJUIOPMBCFM PSXIPTFMBCFMJTUIFFNQUZTUSJOH NVTUCFSFNPWFE

     "OZTFRVFODFPGUXPPSNPSFTFQBSBUPSTJOBSPXNVTUCFDPMMBQTFEUPBTJOHMFTFQBSBUPS

     "OZTFQBSBUPSBUUIFTUBSUPSFOEPGUIFNFOVNVTUCFSFNPWFE

        IHN?RNG?HOM

    5IF >JIO@SOH@IP BUUSJCVUFHJWFTUIFFMFNFOUT DPOUFYUNFOV Q 5IFWBMVFNVTUCFUIF*%PGB NFOV Q FMFNFOUJO


    UIF%0. *GUIFOPEFUIBUXPVMECFPCUBJOFECZUIFJOWPLJOHUIF HFU&MFNFOU#Z*E
    Q NFUIPEVTJOHUIFBUUSJCVUFT
    WBMVFBTUIFPOMZBSHVNFOUJTOVMMPSOPUB NFOV Q FMFNFOU UIFOUIFFMFNFOUIBTOPBTTJHOFEDPOUFYUNFOV
    0UIFSXJTF UIFFMFNFOUTBTTJHOFEDPOUFYUNFOVJTUIFFMFNFOUTPJEFOUJИFE

    8IFOBOFMFNFOUTDPOUFYUNFOVJTSFRVFTUFE FHCZUIFVTFSSJHIUDMJDLJOHUIFFMFNFOU PSQSFTTJOHBDPOUFYUNFOV


    LFZ
    UIF6"NVTU ИSFBTJNQMFFWFOU Q OBNFE DPOUFYUNFOV UIBUCVCCMFTBOEJTDBODFMBCMFBUUIFFMFNFOUGPSXIJDI
    UIFNFOVXBTSFRVFTUFE

    *HM> 0RIB<:EER MA>K>?HK> MA>[KBG@H?MA> <HGM>QMF>GN >O>GMPBEE;>MA>=>?:NEM:<MBHGH?:


    FHNL>NI HK D>RNI >O>GM 0A>>Q:<ML>JN>G<>H?>O>GMLBL1
    =>I>G=>GM :LBMPBEEO:KR;:L>=HG
    IE:M?HKF<HGO>GMBHGL

    5IFEFGBVMUBDUJPOPGUIF DPOUFYUNFOV FWFOUEFQFOETPOXIFUIFSUIFFMFNFOUPSPOFPGJUTBODFTUPSTIBTBDPOUFYU


    NFOVBTTJHOFE VTJOHUIF DPOUFYUNFOV Q BUUSJCVUF
    PSOPU*GUIFSFJTOPDPOUFYUNFOVBTTJHOFE UIFEFGBVMUBDUJPO
    NVTUCFGPSUIFVTFSBHFOUUPTIPXJUTEFGBVMUDPOUFYUNFOV JGJUIBTPOF

    *GUIFFMFNFOUPSPOFPGJUTBODFTUPST 3>4B IBWFBDPOUFYUNFOVBTTJHOFE UIFOUIFVTFSBHFOUNVTU ИSFBTJNQMF


    FWFOU Q OBNFE TIPX BUUIF NFOV Q FMFNFOUPGUIFDPOUFYUNFOVPGUIFOFBSFTUBODFTUPS JODMVEJOHUIFFMFNFOU
    JUTFMG
    XJUIPOFBTTJHOFE

    5IFEFGBVMUBDUJPOPG C78B FWFOUJTUIBUUIFVTFSBHFOUNVTUTIPXBDPOUFYUNFOV CVJMU Q GSPNUIF NFOV Q FMFNFOU

    5IFVTFSBHFOUNBZBMTPQSPWJEFBDDFTTUPJUTEFGBVMUDPOUFYUNFOV JGBOZ XJUIUIFDPOUFYUNFOVTIPXO'PS


    FYBNQMF JUDPVMENFSHFUIFNFOVJUFNTGSPNUIFUXPNFOVTUPHFUIFS PSQSPWJEFUIFQBHFTDPOUFYUNFOVBTB
    TVCNFOVPGUIFEFGBVMUNFOV

    *GUIFVTFSEJTNJTTFTUIFNFOVXJUIPVUNBLJOHBTFMFDUJPO OPUIJOHJOQBSUJDVMBSIBQQFOT

    *GUIFVTFSTFMFDUTBNFOVJUFNUIBUSFQSFTFOUTB DPNNBOE Q UIFOUIF6"NVTUJOWPLFUIBUDPNNBOET "DUJPO Q 

    
    $POUFYUNFOVTNVTUOPU XIJMFCFJOHTIPXO SFЙFDUDIBOHFTJOUIF%0.UIFZBSFDPOTUSVDUFEBTUIFEFGBVMUBDUJPOPG
    UIF TIPX FWFOUBOENVTUSFNBJOBTDPOTUSVDUFEVOUJMEJTNJTTFE

    6TFSBHFOUTNBZQSPWJEFNFBOTGPSCZQBTTJOHUIFDPOUFYUNFOVQSPDFTTJOHNPEFM FOTVSJOHUIBUUIFVTFSDBOBMXBZT
    BDDFTTUIF6"TEFGBVMUDPOUFYUNFOVT'PSFYBNQMF UIFVTFSBHFOUDPVMEIBOEMFSJHIUDMJDLTUIBUIBWFUIF4IJGULFZ
    EFQSFTTFEJOTVDIBXBZUIBUJUEPFTOPUИSFUIF DPOUFYUNFOV FWFOUBOEJOTUFBEBMXBZTTIPXTUIFEFGBVMUDPOUFYU
    NFOV

    5IF >JIO@SO+@IP BUUSJCVUFNVTU SFЙFDU Q UIF DPOUFYUNFOV Q DPOUFOUBUUSJCVUF

    )FSFJTBOFYBNQMFPGBDPOUFYUNFOVGPSBOJOQVUDPOUSPM

    GPSNOBNFOQD
    MBCFM$IBSBDUFSOBNFJOQVUOBNFDIBSUZQFUFYUDPOUFYUNFOVOBNFNFOVSFRVJSFEMBCFM
    NFOVUZQFDPOUFYUJEOBNFNFOV
    DPNNBOEMBCFM1JDLSBOEPNOBNFPODMJDLEPDVNFOUGPSNTOQDFMFNFOUTDIBSWBMVF
    HFU3BOEPN/BNF
    
    DPNNBOEMBCFM1SFGJMMPUIFSGJFMETCBTFEPOOBNF
    PODMJDLQSFGJMM'JFMET EPDVNFOUGPSNTOQDFMFNFOUTDIBSWBMVF
    
    NFOV
    GPSN

    5IJTBEETUPJUFNTUPUIFDPOUSPMTDPOUFYUNFOV POFDBMMFE1JDLSBOEPNOBNF BOEPOFDBMMFE1SFИMMPUIFS


    ИFMETCBTFEPOOBNF5IFZJOWPLFTDSJQUTUIBUBSFOPUTIPXOJOUIFFYBNQMFBCPWF

        0IIF<;LM

    8IFOB NFOV Q FMFNFOUIBTB UZQF Q BUUSJCVUFJOUIF UPPMCBS Q TUBUF UIFOUIFVTFSBHFOUNVTU CVJME Q UIFNFOV
    GPSUIBU NFOV Q FMFNFOU BOEVTFUIFSFTVMUJOUIFSFOEFSJOH

    5IFVTFSBHFOUNVTUSFЙFDUDIBOHFTNBEFUPUIF NFOV Q T%0. CZJNNFEJBUFMZ SFCVJMEJOH Q UIFNFOV

       IGG;H>M

    " =IGG;H> JTUIFBCTUSBDUJPOCFIJOENFOVJUFNT CVUUPOT BOEMJOLT

    $PNNBOETBSFEFИOFEUPIBWFUIFGPMMPXJOH @;=?NM

    0RI>
    5IFLJOEPGDPNNBOEDPNNBOE NFBOJOHJUJTBOPSNBMDPNNBOESBEJP NFBOJOHUIBUUSJHHFSJOHUIF
    DPNNBOEXJMM BNPOHTUPUIFSUIJOHT TFUUIF $IFDLFE4UBUF Q UPUSVF BOEQSPCBCMZVODIFDLTPNFPUIFS
    DPNNBOET
    PSDIFDLCPY NFBOJOHUIBUUSJHHFSJOHUIFDPNNBOEXJMM BNPOHTUPUIFSUIJOHT UPHHMFUIFWBMVFPG
    UIF $IFDLFE4UBUF Q 

    %
    5IFOBNFPGUIFDPNNBOE GPSSFGFSSJOHUPUIFDPNNBOEGSPNUIFNBSLVQPSGSPNTDSJQU*GBDPNNBOEIBTOP
    *% JUJTBO ;HIHSGIOM=IGG;H>

    (:;>E
    5IFOBNFPGUIFDPNNBOEBTTFFOCZUIFVTFS

    $BGM
    "IFMQGVMPSEFTDSJQUJWFTUSJOHUIBUDBOCFTIPXOUPUIFVTFS

    %<HG
    "O BCTPMVUF63- Q JEFOUJGZJOHBHSBQIJDBMJNBHFUIBUSFQSFTFOUTUIFBDUJPO"DPNNBOENJHIUOPUIBWFBO*DPO

    <<>LL'>R
    "LFZDPNCJOBUJPOTFMFDUFECZUIFVTFSBHFOUUIBUUSJHHFSTUIFDPNNBOE"DPNNBOENJHIUOPUIBWFBO"DDFTT
    ,FZ

    $B==>G/M:M>
    8IFUIFSUIFDPNNBOEJTIJEEFOPSOPU CBTJDBMMZ XIFUIFSJUTIPVMECFTIPXOJONFOVT
    

    BL:;E>=/M:M>
    8IFUIFSUIFDPNNBOEJTSFMFWBOUBOEDBOCFUSJHHFSFEPSOPU

    A><D>=/M:M>
    8IFUIFSUIFDPNNBOEJTDIFDLFEPSOPU

    
    <MBHG
    5IFBDUVBMFЗFDUUIBUUSJHHFSJOHUIFDPNNBOEXJMMIBWF5IJTDPVMECFBTDSJQUFEFWFOUIBOEMFS B 63- Q UP
    XIJDIUP OBWJHBUF Q PSBGPSNTVCNJTTJPO

    5IFTFGBDFUTBSFFYQPTFEPOFMFNFOUTVTJOHUIF =IGG;H>,%

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    >E>F>GM >JHH<I?2TK@ K
    &YQPTFTUIF 5ZQF Q GBDFUPGUIFDPNNBOE

    >E>F>GM D? K
    &YQPTFTUIF *% Q GBDFUPGUIFDPNNBOE

    >E>F>GM G<=@G K


    &YQPTFTUIF -BCFM Q GBDFUPGUIFDPNNBOE

    >E>F>GM ODOG@ K


    &YQPTFTUIF )JOU Q GBDFUPGUIFDPNNBOE

    >E>F>GM D>JI K


    &YQPTFTUIF *DPO Q GBDFUPGUIFDPNNBOE

    >E>F>GM <>>@NN)@T*<=@G K


    &YQPTFTUIF "DDFTT,FZ Q GBDFUPGUIFDPNNBOE

    >E>F>GM CD??@I K


    &YQPTFTUIF )JEEFO4UBUF Q GBDFUPGUIFDPNNBOE

    >E>F>GM ?DN<=G@? K


    &YQPTFTUIF %JTBCMFE4UBUF Q GBDFUPGUIFDPNNBOE

    >E>F>GM >C@>F@? K


    &YQPTFTUIF $IFDLFE4UBUF Q GBDFUPGUIFDPNNBOE

    >E>F>GM >GD>F K 


    5SJHHFSTUIF "DUJPO Q PGUIFDPNNBOE

    5IF >JHH<I?2TK@ BUUSJCVUFNVTUSFUVSOBTUSJOHXIPTFWBMVFJTFJUIFSDPNNBOE SBEJP PSDIFDLCPY EFQFOEJOH


    POXIFUIFSUIF 5ZQF Q PGUIFDPNNBOEEFИOFECZUIFFMFNFOUJTDPNNBOE SBEJP PSDIFDLCPYSFTQFDUJWFMZ*G
    UIFFMFNFOUEPFTOPUEFИOFBDPNNBOE JUNVTUSFUVSOOVMM

    5IF G<=@G BUUSJCVUFNVTUSFUVSOUIFDPNNBOET -BCFM Q PSOVMMJGUIFFMFNFOUEPFTOPUEFИOFBDPNNBOEPSEPFT


    OPUTQFDJGZB -BCFM Q 5IJTBUUSJCVUFXJMMCFTIBEPXFECZUIF MBCFM *%-BUUSJCVUFPOWBSJPVTFMFNFOUT

    5IF D>JI BUUSJCVUFNVTUSFUVSOUIF BCTPMVUF63- Q PGUIFDPNNBOET *DPO Q *GUIFFMFNFOUEPFTOPUTQFDJGZBOJDPO


    PSJGUIFFMFNFOUEPFTOPUEFИOFBDPNNBOE UIFOUIFBUUSJCVUFNVTUSFUVSOOVMM5IJTBUUSJCVUFXJMMCFTIBEPXFECZ
    UIF JDPO Q *%-BUUSJCVUFPO DPNNBOE Q FMFNFOUT

    5IF ?DN<=G@? BUUSJCVUFNVTUSFUVSOUSVFJGUIFDPNNBOET %JTBCMFE4UBUF Q JTUIBUUIFDPNNBOEJTEJTBCMFE BOE


    GBMTFJGUIFDPNNBOEJTOPUEJTBCMFE5IJTBUUSJCVUFJTOPUBЗFDUFECZUIFDPNNBOET )JEEFO4UBUF Q *GUIFFMFNFOU
    EPFTOPUEFИOFBDPNNBOE UIFBUUSJCVUFNVTUSFUVSOGBMTF5IJTBUUSJCVUFXJMMCFTIBEPXFECZUIF EJTBCMFE *%-
    BUUSJCVUFPOWBSJPVTFMFNFOUT

    5IF >C@>F@? BUUSJCVUFNVTUSFUVSOUSVFJGUIFDPNNBOET $IFDLFE4UBUF Q JTUIBUUIFDPNNBOEJTDIFDLFE BOEGBMTF


    JGJUJTUIBUUIFDPNNBOEJTOPUDIFDLFE*GUIFFMFNFOUEPFTOPUEFИOFBDPNNBOE UIFBUUSJCVUFNVTUSFUVSOGBMTF
    5IJTBUUSJCVUFXJMMCFTIBEPXFECZUIF DIFDLFE *%-BUUSJCVUFPO JOQVU Q BOE DPNNBOE Q FMFNFOUT

    *HM> 0A> % I ?:<>MBL>QIHL>=;RMA> B= I % (:MMKB;NM> MA> $BGM I ?:<>MBL>QIHL>=;RMA>
    MBME> I % (:MMKB;NM> MA> <<>LL'>R I ?:<>MBL>QIHL>=;RMA> :<<>LL)>R*:;>E I % (:MMKB;NM>
    :G=MA> $B==>G/M:M> I ?:<>MBL>QIHL>=;RMA> AB==>G I % (:MMKB;NM>

    
    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM >JHH<I?N
    3FUVSOTBO )5.-$PMMFDUJPO Q PGUIFFMFNFOUTJOUIF %PDVNFOU Q UIBUEFИOFDPNNBOETBOEIBWF*%T

    5IF >JHH<I?N BUUSJCVUFPGUIFEPDVNFOUT )5.-%PDVNFOU Q JOUFSGBDFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF


    %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZFMFNFOUTUIBU EFИOFDPNNBOET Q BOEIBWF *%T Q 

    6TFSBHFOUTNBZFYQPTFUIF DPNNBOET Q XIPTF )JEEFO4UBUF Q GBDFUJTGBMTF WJTJCMF


    FHJOUIFVTFSBHFOUT
    NFOVCBS6TFSBHFOUTBSFFODPVSBHFEUPEPUIJTFTQFDJBMMZGPSDPNNBOETUIBUIBWF "DDFTT,FZT Q BTBXBZUP
    BEWFSUJTFUIPTFLFZTUPUIFVTFS

        1MCHANB? < ?F?G?HNNI>?]H?;=IGG;H>

    "O B Q FMFNFOUXJUIBO ISFG Q BUUSJCVUF EFИOFTBDPNNBOE Q 

    5IF 5ZQF Q PGUIFDPNNBOEJTDPNNBOE

    5IF *% Q PGUIFDPNNBOEJTUIFWBMVFPGUIF JE Q BUUSJCVUFPGUIFFMFNFOU JGUIFBUUSJCVUFJTQSFTFOUBOEOPUFNQUZ


    0UIFSXJTFUIFDPNNBOEJTBO BOPOZNPVTDPNNBOE Q 

    5IF -BCFM Q PGUIFDPNNBOEJTUIFTUSJOHHJWFOCZUIFFMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUF

    5IF )JOU Q PGUIFDPNNBOEJTUIFWBMVFPGUIF UJUMF Q BUUSJCVUFPGUIFFMFNFOU*GUIFBUUSJCVUFJTOPUQSFTFOU UIF


    )JOU Q JTUIFFNQUZTUSJOH

    5IF *DPO Q PGUIFDPNNBOEJTUIF BCTPMVUF63- Q PCUBJOFEGSPN SFTPMWJOH Q UIFWBMVFPGUIF TSD Q BUUSJCVUFPGUIF
    ИSTU JNH Q FMFNFOUEFTDFOEBOUPGUIFFMFNFOU SFMBUJWFUPUIBUFMFNFOU JGUIFSFJTTVDIBOFMFNFOUBOESFTPMWJOHJUT
    BUUSJCVUFJTTVDDFTTGVM0UIFSXJTF UIFSFJTOP *DPO Q GPSUIFDPNNBOE

    5IF "DDFTT,FZ Q PGUIFDPNNBOEJTUIFFMFNFOUT BTTJHOFEBDDFTTLFZ Q JGBOZ

    5IF )JEEFO4UBUF Q PGUIFDPNNBOEJTUSVF IJEEFO


    JGUIFFMFNFOUIBTB IJEEFO Q BUUSJCVUF BOEGBMTFPUIFSXJTF

    5IF %JTBCMFE4UBUF Q GBDFUPGUIFDPNNBOEJTBMXBZTGBMTF 5IFDPNNBOEJTBMXBZTFOBCMFE

    5IF $IFDLFE4UBUF Q PGUIFDPNNBOEJTBMXBZTGBMTF 5IFDPNNBOEJTOFWFSDIFDLFE

    5IF "DUJPO Q PGUIFDPNNBOEJTUP ИSFB DMJDL FWFOU Q BUUIFFMFNFOU

        1MCHANB? =POOJI ?F?G?HNNI>?]H?;=IGG;H>

    " CVUUPO Q FMFNFOUBMXBZT EFИOFTBDPNNBOE Q 

    5IF 5ZQF Q *% Q -BCFM Q )JOU Q *DPO Q "DDFTT,FZ Q )JEEFO4UBUF Q $IFDLFE4UBUF Q BOE "DUJPO Q
    GBDFUTPGUIFDPNNBOEBSFEFUFSNJOFE BTGPS B FMFNFOUT Q TFFUIFQSFWJPVTTFDUJPO
    

    5IF %JTBCMFE4UBUF Q PGUIFDPNNBOENJSSPSTUIF EJTBCMFE Q TUBUFPGUIFCVUUPO

        1MCHANB? DIKPO ?F?G?HNNI>?]H?;=IGG;H>

    "O JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOPOFPGUIF 4VCNJU#VUUPO Q 3FTFU#VUUPO Q *NBHF#VUUPO Q
    #VUUPO Q 3BEJP#VUUPO Q PS $IFDLCPY Q TUBUFT EFИOFTBDPNNBOE Q 

    5IF 5ZQF Q PGUIFDPNNBOEJTSBEJPJGUIF UZQF Q BUUSJCVUFJTJOUIF 3BEJP#VUUPO Q TUBUF DIFDLCPYJGUIF
    UZQF Q BUUSJCVUFJTJOUIF $IFDLCPY Q TUBUF BOEDPNNBOEPUIFSXJTF

    5IF *% Q PGUIFDPNNBOEJTUIFWBMVFPGUIF JE Q BUUSJCVUFPGUIFFMFNFOU JGUIFBUUSJCVUFJTQSFTFOUBOEOPUFNQUZ


    0UIFSXJTFUIFDPNNBOEJTBO BOPOZNPVTDPNNBOE Q 

    5IF -BCFM Q PGUIFDPNNBOEEFQFOETPOUIF5ZQFPGUIFDPNNBOE

    *GUIF 5ZQF Q JTDPNNBOE UIFOJUJTUIFTUSJOHHJWFOCZUIF WBMVF Q BUUSJCVUF JGBOZ BOEB6"EFQFOEFOU MPDBMF
    EFQFOEFOUWBMVFUIBUUIF6"VTFTUPMBCFMUIFCVUUPOJUTFMGJGUIFBUUSJCVUFJTBCTFOU

    
    0UIFSXJTF UIF 5ZQF Q JTSBEJPPSDIFDLCPY*GUIFFMFNFOUJTB MBCFMFEDPOUSPM Q UIF UFYU$POUFOU Q PGUIFИSTU
    MBCFM Q FMFNFOUJO USFFPSEFS Q XIPTF MBCFMFEDPOUSPM Q JTUIFFMFNFOUJORVFTUJPOJTUIF -BCFM Q JO%0.UFSNT
    UIJTJTUIFTUSJOHHJWFOCZ $%&,MBCFMT<>UFYU$POUFOU
    0UIFSXJTF UIFWBMVFPGUIF WBMVF Q BUUSJCVUF JG
    QSFTFOU JTUIF -BCFM Q 0UIFSXJTF UIF -BCFM Q JTUIFFNQUZTUSJOH

    5IF )JOU Q PGUIFDPNNBOEJTUIFWBMVFPGUIF UJUMF Q BUUSJCVUFPGUIF JOQVU Q FMFNFOU*GUIFBUUSJCVUFJTOPU
    QSFTFOU UIF )JOU Q JTUIFFNQUZTUSJOH

    *GUIFFMFNFOUT UZQF Q BUUSJCVUFJTJOUIF *NBHF#VUUPO Q TUBUF BOEUIFFMFNFOUIBTB TSD Q BUUSJCVUF BOEUIBU
    BUUSJCVUFTWBMVFDBOCFTVDDFTTGVMMZ SFTPMWFE Q SFMBUJWFUPUIFFMFNFOU UIFOUIF *DPO Q PGUIFDPNNBOEJTUIF
    BCTPMVUF63- Q PCUBJOFEGSPNSFTPMWJOHUIBUBUUSJCVUFUIBUXBZ0UIFSXJTF UIFSFJTOP *DPO Q GPSUIFDPNNBOE

    5IF "DDFTT,FZ Q PGUIFDPNNBOEJTUIFFMFNFOUT BTTJHOFEBDDFTTLFZ Q JGBOZ

    5IF )JEEFO4UBUF Q PGUIFDPNNBOEJTUSVF IJEEFO


    JGUIFFMFNFOUIBTB IJEEFO Q BUUSJCVUF BOEGBMTFPUIFSXJTF

    5IF %JTBCMFE4UBUF Q PGUIFDPNNBOENJSSPSTUIF EJTBCMFE Q TUBUFPGUIFDPOUSPM

    5IF $IFDLFE4UBUF Q PGUIFDPNNBOEJTUSVFJGUIFDPNNBOEJTPG 5ZQF Q SBEJPPSDIFDLCPYBOEUIFFMFNFOUJT


    DIFDLFE Q BUUSJCVUF BOEGBMTFPUIFSXJTF

    5IF "DUJPO Q PGUIFDPNNBOE JGUIFFMFNFOUIBTBEFИOFE BDUJWBUJPOCFIBWJPS Q JTUP SVOTZOUIFUJDDMJDLBDUJWBUJPO


    TUFQT Q POUIFFMFNFOU0UIFSXJTF JUJTKVTUUP ИSFB DMJDL FWFOU Q BUUIFFMFNFOU

        1MCHANB? JKODJI ?F?G?HNNI>?]H?;=IGG;H>

    "O PQUJPO Q FMFNFOUXJUIBOBODFTUPS TFMFDU Q FMFNFOUBOEFJUIFSOP WBMVF Q BUUSJCVUFPSB WBMVF Q BUUSJCVUF
    UIBUJTOPUUIFFNQUZTUSJOH EFИOFTBDPNNBOE Q 

    5IF 5ZQF Q PGUIFDPNNBOEJTSBEJPJGUIF PQUJPO Q TOFBSFTUBODFTUPS TFMFDU Q FMFNFOUIBTOP NVMUJQMF Q
    BUUSJCVUF BOEDIFDLCPYJGJUEPFT

    5IF *% Q PGUIFDPNNBOEJTUIFWBMVFPGUIF JE Q BUUSJCVUFPGUIFFMFNFOU JGUIFBUUSJCVUFJTQSFTFOUBOEOPUFNQUZ


    0UIFSXJTFUIFDPNNBOEJTBO BOPOZNPVTDPNNBOE Q 

    5IF -BCFM Q PGUIFDPNNBOEJTUIFWBMVFPGUIF PQUJPO Q FMFNFOUT MBCFM Q BUUSJCVUF JGUIFSFJTPOF PSUIFWBMVF
    PGUIF PQUJPO Q FMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUFJGUIFSFJTOU

    5IF )JOU Q PGUIFDPNNBOEJTUIFTUSJOHHJWFOCZUIFFMFNFOUT UJUMF Q BUUSJCVUF JGBOZ BOEUIFFNQUZTUSJOHJGUIF


    BUUSJCVUFJTBCTFOU

    5IFSFJTOP *DPO Q GPSUIFDPNNBOE

    5IF "DDFTT,FZ Q PGUIFDPNNBOEJTUIFFMFNFOUT BTTJHOFEBDDFTTLFZ Q JGBOZ

    5IF )JEEFO4UBUF Q PGUIFDPNNBOEJTUSVF IJEEFO


    JGUIFFMFNFOUIBTB IJEEFO Q BUUSJCVUF BOEGBMTFPUIFSXJTF

    5IF %JTBCMFE4UBUF Q PGUIFDPNNBOEJTUSVF EJTBCMFE


    JGUIFFMFNFOUJT EJTBCMFE Q PSJGJUTOFBSFTUBODFTUPS
    TFMFDU Q FMFNFOUJT EJTBCMFE Q BOEGBMTFPUIFSXJTF

    5IF $IFDLFE4UBUF Q PGUIFDPNNBOEJTUSVF DIFDLFE


    JGUIFFMFNFOUT TFMFDUFEOFTT Q JTUSVF BOEGBMTFPUIFSXJTF

    5IF "DUJPO Q PGUIFDPNNBOEEFQFOETPOJUT 5ZQF Q *GUIFDPNNBOEJTPG 5ZQF Q SBEJPUIFOJUNVTU QJDL Q UIF
    PQUJPO Q FMFNFOU0UIFSXJTF JUNVTU UPHHMF Q UIF PQUJPO Q FMFNFOU

        1MCHANB? >JHH<I? ?F?G?HNNI>?]H?;=IGG;H>

    " DPNNBOE Q FMFNFOU EFИOFTBDPNNBOE Q 

    5IF 5ZQF Q PGUIFDPNNBOEJTSBEJPJGUIF DPNNBOE Q T UZQF Q BUUSJCVUFJTSBEJP DIFDLCPYJGUIFBUUSJCVUFT
    WBMVFJTDIFDLCPY BOEDPNNBOEPUIFSXJTF

    5IF *% Q PGUIFDPNNBOEJTUIFWBMVFPGUIF JE Q BUUSJCVUFPGUIFFMFNFOU JGUIFBUUSJCVUFJTQSFTFOUBOEOPUFNQUZ


    0UIFSXJTFUIFDPNNBOEJTBO BOPOZNPVTDPNNBOE Q 

    5IF -BCFM Q PGUIFDPNNBOEJTUIFWBMVFPGUIFFMFNFOUT MBCFM Q BUUSJCVUF JGUIFSFJTPOF PSUIFFNQUZTUSJOHJGJU


    EPFTOU

    
    5IF )JOU Q PGUIFDPNNBOEJTUIFTUSJOHHJWFOCZUIFFMFNFOUT UJUMF Q BUUSJCVUF JGBOZ BOEUIFFNQUZTUSJOHJGUIF
    BUUSJCVUFJTBCTFOU

    5IF *DPO Q GPSUIFDPNNBOEJTUIF BCTPMVUF63- Q PCUBJOFEGSPN SFTPMWJOH Q UIFWBMVFPGUIFFMFNFOUT JDPO Q
    BUUSJCVUF SFMBUJWFUPUIFFMFNFOU JGJUIBTTVDIBOBUUSJCVUFBOESFTPMWJOHJUJTTVDDFTTGVM0UIFSXJTF UIFSFJTOP
    *DPO Q GPSUIFDPNNBOE

    5IF "DDFTT,FZ Q PGUIFDPNNBOEJTUIFFMFNFOUT BTTJHOFEBDDFTTLFZ Q JGBOZ

    5IF )JEEFO4UBUF Q PGUIFDPNNBOEJTUSVF IJEEFO


    JGUIFFMFNFOUIBTB IJEEFO Q BUUSJCVUF BOEGBMTFPUIFSXJTF

    5IF %JTBCMFE4UBUF Q PGUIFDPNNBOEJTUSVF EJTBCMFE


    JGUIFFMFNFOUIBTB EJTBCMFE Q BUUSJCVUF BOEGBMTF
    PUIFSXJTF

    5IF $IFDLFE4UBUF Q PGUIFDPNNBOEJTUSVF DIFDLFE


    JGUIFFMFNFOUIBTB DIFDLFE Q BUUSJCVUF BOEGBMTF
    PUIFSXJTF

    5IF "DUJPO Q PGUIFDPNNBOE JGUIFFMFNFOUIBTBEFИOFE BDUJWBUJPOCFIBWJPS Q JTUP SVOTZOUIFUJDDMJDLBDUJWBUJPO


    TUFQT Q POUIFFMFNFOU0UIFSXJTF JUJTKVTUUP ИSFB DMJDL FWFOU Q BUUIFFMFNFOU

        1MCHANB? <>>@NNF@T ;NNLC<ON?IH; G<=@G ?F?G?HNNI>?]H?;=IGG;H>

    " MBCFM Q FMFNFOUUIBUIBTBO BTTJHOFEBDDFTTLFZ Q BOEB MBCFMFEDPOUSPM Q BOEXIPTF MBCFMFEDPOUSPM Q
    EFИOFTBDPNNBOE Q JUTFMG EFИOFTBDPNNBOE Q 

    5IF 5ZQF Q PGUIFDPNNBOEJTDPNNBOE

    5IF *% Q PGUIFDPNNBOEJTUIFWBMVFPGUIF JE Q BUUSJCVUFPGUIFFMFNFOU JGUIFBUUSJCVUFJTQSFTFOUBOEOPUFNQUZ


    0UIFSXJTFUIFDPNNBOEJTBO BOPOZNPVTDPNNBOE Q 

    5IF -BCFM Q PGUIFDPNNBOEJTUIFTUSJOHHJWFOCZUIFFMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUF

    5IF )JOU Q PGUIFDPNNBOEJTUIFWBMVFPGUIF UJUMF Q BUUSJCVUFPGUIFFMFNFOU

    5IFSFJTOP *DPO Q GPSUIFDPNNBOE

    5IF "DDFTT,FZ Q PGUIFDPNNBOEJTUIFFMFNFOUT BTTJHOFEBDDFTTLFZ Q 

    5IF )JEEFO4UBUF Q %JTBCMFE4UBUF Q BOE "DUJPO Q GBDFUTPGUIFDPNNBOEBSFUIFTBNFBTUIFSFTQFDUJWFGBDFUT


    PGUIFFMFNFOUT MBCFMFEDPOUSPM Q 

    5IF $IFDLFE4UBUF Q PGUIFDPNNBOEJTBMXBZTGBMTF 5IFDPNNBOEJTOFWFSDIFDLFE

        1MCHANB? <>>@NNF@T ;NNLC<ON?IH; G@B@I? ?F?G?HNNI>?]H?;=IGG;H>

    " MFHFOE Q FMFNFOUUIBUIBTBO BTTJHOFEBDDFTTLFZ Q BOEJTBDIJMEPGB GJFMETFU Q FMFNFOUUIBUIBTB
    EFTDFOEBOUUIBUJTOPUBEFTDFOEBOUPGUIF MFHFOE Q FMFNFOUBOEJTOFJUIFSB MBCFM Q FMFNFOUOPSB MFHFOE Q
    FMFNFOUCVUUIBU EFИOFTBDPNNBOE Q JUTFMG EFИOFTBDPNNBOE Q 

    5IF 5ZQF Q PGUIFDPNNBOEJTDPNNBOE

    5IF *% Q PGUIFDPNNBOEJTUIFWBMVFPGUIF JE Q BUUSJCVUFPGUIFFMFNFOU JGUIFBUUSJCVUFJTQSFTFOUBOEOPUFNQUZ


    0UIFSXJTFUIFDPNNBOEJTBO BOPOZNPVTDPNNBOE Q 

    5IF -BCFM Q PGUIFDPNNBOEJTUIFTUSJOHHJWFOCZUIFFMFNFOUT UFYU$POUFOU Q *%-BUUSJCVUF

    5IF )JOU Q PGUIFDPNNBOEJTUIFWBMVFPGUIF UJUMF Q BUUSJCVUFPGUIFFMFNFOU

    5IFSFJTOP *DPO Q GPSUIFDPNNBOE

    5IF "DDFTT,FZ Q PGUIFDPNNBOEJTUIFFMFNFOUT BTTJHOFEBDDFTTLFZ Q 

    5IF )JEEFO4UBUF Q %JTBCMFE4UBUF Q BOE "DUJPO Q GBDFUTPGUIFDPNNBOEBSFUIFTBNFBTUIFSFTQFDUJWFGBDFUT


    PGUIFИSTUFMFNFOUJO USFFPSEFS Q UIBUJTBEFTDFOEBOUPGUIFQBSFOUPGUIF MFHFOE Q FMFNFOUUIBU EFИOFTB
    DPNNBOE Q CVUJTOPUBEFTDFOEBOUPGUIF MFHFOE Q FMFNFOUBOEJTOFJUIFSB MBCFM Q OPSB MFHFOE Q FMFNFOU

    5IF $IFDLFE4UBUF Q PGUIFDPNNBOEJTBMXBZTGBMTF 5IFDPNNBOEJTOFWFSDIFDLFE

    
        1MCHANB? <>>@NNF@T ;NNLC<ON?NI>?]H?;=IGG;H>IHINB?L?F?G?HNM

    "OFMFNFOUUIBUIBTBO BTTJHOFEBDDFTTLFZ Q EFИOFTBDPNNBOE Q 

    *GPOFPGUIFPUIFSTFDUJPOTUIBUEFИOFFMFNFOUTUIBU EFИOFDPNNBOET Q EFИOFUIBUUIJTFMFNFOU EFИOFTB


    DPNNBOE Q UIFOUIBUTFDUJPOBQQMJFTUPUIJTFMFNFOU BOEUIJTTFDUJPOEPFTOPU0UIFSXJTF UIJTTFDUJPOBQQMJFTUP
    UIBUFMFNFOU

    5IF 5ZQF Q PGUIFDPNNBOEJTDPNNBOE

    5IF *% Q PGUIFDPNNBOEJTUIFWBMVFPGUIF JE Q BUUSJCVUFPGUIFFMFNFOU JGUIFBUUSJCVUFJTQSFTFOUBOEOPUFNQUZ


    0UIFSXJTFUIFDPNNBOEJTBO BOPOZNPVTDPNNBOE Q 

    5IF -BCFM Q PGUIFDPNNBOEEFQFOETPOUIFFMFNFOU*GUIFFMFNFOUJTB MBCFMFEDPOUSPM Q UIF UFYU$POUFOU Q PG


    UIFИSTU MBCFM Q FMFNFOUJO USFFPSEFS Q XIPTF MBCFMFEDPOUSPM Q JTUIFFMFNFOUJORVFTUJPOJTUIF -BCFM Q JO%0.
    UFSNT UIJTJTUIFTUSJOHHJWFOCZ $%&,MBCFMT<>UFYU$POUFOU
    0UIFSXJTF UIF -BCFM Q JTUIF UFYU$POUFOU Q PG
    UIFFMFNFOUJUTFMG

    5IF )JOU Q PGUIFDPNNBOEJTUIFWBMVFPGUIF UJUMF Q BUUSJCVUFPGUIFFMFNFOU*GUIFBUUSJCVUFJTOPUQSFTFOU UIF


    )JOU Q JTUIFFNQUZTUSJOH

    5IFSFJTOP *DPO Q GPSUIFDPNNBOE

    5IF "DDFTT,FZ Q PGUIFDPNNBOEJTUIFFMFNFOUT BTTJHOFEBDDFTTLFZ Q 

    5IF )JEEFO4UBUF Q PGUIFDPNNBOEJTUSVF IJEEFO


    JGUIFFMFNFOUIBTB IJEEFO Q BUUSJCVUF BOEGBMTFPUIFSXJTF

    5IF %JTBCMFE4UBUF Q GBDFUPGUIFDPNNBOEJTBMXBZTGBMTF 5IFDPNNBOEJTBMXBZTFOBCMFE

    5IF $IFDLFE4UBUF Q PGUIFDPNNBOEJTBMXBZTGBMTF 5IFDPNNBOEJTOFWFSDIFDLFE

    5IF "DUJPO Q PGUIFDPNNBOEJTUPSVOUIFGPMMPXJOHTUFQT

     *GUIFFMFNFOUJT GPDVTBCMF Q SVOUIF GPDVTJOHTUFQT Q GPSUIFFMFNFOU

     *GUIFFMFNFOUIBTBEFИOFE BDUJWBUJPOCFIBWJPS Q SVOTZOUIFUJDDMJDLBDUJWBUJPOTUFQT Q POUIFFMFNFOU

     0UIFSXJTF JGUIFFMFNFOUEPFTOPUIBWFBEFИOFE BDUJWBUJPOCFIBWJPS Q ИSFB DMJDL FWFOU Q BUUIF


    FMFNFOU

       0B? ?@QD>@ ?F?G?HN

    ;N?AILC?M
    'MPXDPOUFOU Q 
    1ISBTJOHDPOUFOU Q 
    *OUFSBDUJWFDPOUFOU Q 

    IHN?RNMCHQBC=BNBCM?F?G?HNG;S<?OM?>
    8IFSF QISBTJOHDPOUFOU Q JTFYQFDUFE

    IHN?HNGI>?F
    &NQUZ

    IHN?HN;NNLC<ON?M
    (MPCBMBUUSJCVUFT Q
    UZQF Q

    +)CHN?L@;=?

    JOUFSGBDF &2+*"@QD>@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH UZQF
    SFBEPOMZBUUSJCVUFBOZ EBUB
    ^

    5IF EFWJDF Q FMFNFOUSFQSFTFOUTBEFWJDFTFMFDUPS UPBMMPXUIFVTFSUPHJWFUIFQBHFBDDFTTUPBEFWJDF GPS


    FYBNQMFBWJEFPDBNFSB

    
    5IF OTK@ BUUSJCVUFBMMPXTUIFBVUIPSUPTQFDJGZXIJDILJOEPGEFWJDFUIFQBHFXPVMEMJLFBDDFTTUP5IFBUUSJCVUFJTBO
    FOVNFSBUFEBUUSJCVUF Q XJUIUIFLFZXPSETHJWFOJOUIFИSTUDPMVNOPGUIFGPMMPXJOHUBCMF BOEUIFJSDPSSFTQPOEJOH
    TUBUFTHJWFOJOUIFDFMMJOTFDPOEDPMVNOPGUIFTBNFSPX

    34JTPOMZJODMVEFECFMPXUPHJWFBOJEFBPGXIFSFXFDPVMEHPXJUIUIJT /BIOF>Q?CHMN?;>DOMNG;E?NBCM
    IHFSOM?@OF@IL;O>CIPCMO;FMNL?;GM 6OMFTTUIFSFBSFDPNQFMMJOHSFBTPOT XFQSPCBCMZTIPVMEOPUCFUIJT
    HFOFSJD4PGBS UIFSFBTPOTBSFOUUIBUDPNQFMMJOH

    '?SQIL> /N;N? ?PC=?>?M=LCJNCIH !R;GJF?M

    H@?D< .FEJB 4USFBNPGBVEJPBOEPSWJEFPEBUB "XFCDBN


    AN 'JMFTZTUFN 'JMFTZTUFN "64#DPOOFDUFENFEJBQMBZFS
    MN 34 34EFWJDF "TFSJBMQPSU

    QSPDFTTJOHNPEFMDIBOHFFWFOUИSFTPODFVTFSTFMFDUTBOFXEFWJDFEBUBJTTFUUPOFX4USFBN -PDBM'4 PS


    34PCKFDUBTBQQSPQSJBUF

    Q5PTUBSUDIBUUJOH TFMFDUBWJEFPDBNFSBEFWJDFUZQFNFEJB
    PODIBOHFVQEBUF UIJTEBUB
    Q
    WJEFPBVUPQMBZWJEFP
    TDSJQU
    GVODUJPOVQEBUF TUSFBN
    \
    EPDVNFOUHFU&MFNFOUT#Z5BH/BNF WJEFP
    <>TSDTUSFBN63-
    ^
    TDSJQU

        /NL?;G,%

    5IF 4USFBN Q JOUFSGBDFJTVTFEUPSFQSFTFOUTUSFBNT

    JOUFSGBDF 1OM@<H \
    SFBEPOMZBUUSJCVUF%0.4USJOH 63-
    4USFBN3FDPSEFS SFDPSE
    
    ^

    5IF 30* BUUSJCVUFNVTUSFUVSOB 'JMF63/ SFQSFTFOUJOHUIFTUSFBN <'*-&"1*> Q

    'PSBVEJPBOEWJEFPTUSFBNT UIFTUSFBNNVTUCFJOBGPSNBUTVQQPSUFECZUIFVTFSBHFOUGPSVTFJO BVEJP Q BOE


    WJEFP Q FMFNFOUT

    5IJTXJMMCFQJOOFEEPXOUPBTQFDJИDDPEFD

    8IFOUIF M@>JM? NFUIPEJTJOWPLFE UIFVTFSBHFOUNVTUSFUVSOBOFX 4USFBN3FDPSEFS Q PCKFDUBTTPDJBUFEXJUI


    UIFTUSFBN

    JOUFSGBDF 1OM@<H0@>JM?@M \
    'JMF TUPQ
    
    ^

    5IF NOJK NFUIPENVTUSFUVSOBOFX 'JMF PCKFDUSFQSFTFOUJOHUIFEBUBUIBUXBTTUSFBNFECFUXFFOUIFDSFBUJPOPG


    UIF 4USFBN3FDPSEFS Q PCKFDUBOEUIFJOWPDBUJPOPGUIF TUPQ
    Q NFUIPE <'*-&"1*> Q

    'PSBVEJPBOEWJEFPTUSFBNT UIFИMFNVTUCFJOBGPSNBUTVQQPSUFECZUIFVTFSBHFOUGPSVTFJO BVEJP Q BOE


    WJEFP Q FMFNFOUT

    5IJTBHBJOXJMMCFQJOOFEEPXOUPBTQFDJИDDPEFD

        ,??L NI J??L=IHH?=NCIHM

    5IJTTFDUJPOXJMMCFNPWFEUPBNPSFBQQSPQSJBUFMPDBUJPOJOEVFDPVSTFJUJTIFSFDVSSFOUMZUPLFFQJUOFBSUIF
    EFWJDF Q FMFNFOUUPBMMPXSFWJFXFSTUPMPPLBUJU

    
    </P*OUFSGBDF0CKFDU>
    JOUFSGBDF =NOM<>O.@@M \
    WPJETFOE5FYU JO%0.4USJOHUFYU
    
    BUUSJCVUF 'VODUJPO POUFYUSFDFJWJOH

    WPJETFOE#JUNBQ JO)5.-*NBHF&MFNFOUJNBHF
    
    BUUSJCVUF 'VODUJPO POCJUNBQSFDFJWJOH

    WPJETFOE'JMF JO'JMFGJMF
    
    BUUSJCVUF 'VODUJPO POGJMFSFDFJWJOH

    BUUSJCVUF 4USFBN MPDBM4USFBNWJEFPBVEJPUPTFOE


    SFBEPOMZBUUSJCVUF 4USFBN SFNPUF4USFBNWJEFPBVEJPGSPNSFNPUFQFFS
    BUUSJCVUF 'VODUJPO POTUSFBNDIBOHFXIFOUIFSFNPUFQFFSDIBOHFTXIFUIFSUIFWJEFPJT
    CFJOHTFOUPSOPU

    BUUSJCVUF 'VODUJPO PODPOOFDU


    BUUSJCVUF 'VODUJPO POFSSPS
    BUUSJCVUF 'VODUJPO POEJTDPOOFDU
    ^

    <$POTUSVDUPS JO%0.4USJOHTFSWFS$POGJHVSBUJPO
    >
    JOUFSGBDF .@@M2J.@@M1@MQ@M  "CTUSBDU1FFS \
    WPJE HFU$MJFOU$POGJHVSBUJPO JO 1FFS5P1FFS$POGJHVSBUJPO$BMMCBDL DBMMCBDL
    

    WPJEDMPTF
    EJTDPOOFDUTBOETUPQTMJTUFOJOH
    ^

    <$POTUSVDUPS>
    JOUFSGBDF .@@M2J.@@M!GD@IO  "CTUSBDU1FFS \
    WPJE BEE$POGJHVSBUJPO JO%0.4USJOHDPOGJHVSBUJPO
    
    WPJEDMPTF
    EJTDPOOFDUT
    ^

    <$BMMCBDL'VODUJPO0OMZ /P*OUFSGBDF0CKFDU>
    JOUFSGBDF .@@M2J.@@M!JIADBPM<ODJI!<GG=<>F \
    WPJE IBOEMF&WFOU JO 1FFS5P1FFS4FSWFS TFSWFS JO%0.4USJOHDPOGJHVSBUJPO
    
    ^

    

    5IJTSFMJFTPOTPNFDVSSFOUMZIZQPUIFUJDBMPUIFSTUBOEBSEUPEFИOF

    Ǭ 5IFGPSNBUPGTFSWFSDPOИHVSBUJPOTUSJOHT

    Ǭ 5IFGPSNBUPGDMJFOUDPOИHVSBUJPOTUSJOHT

    Ǭ 5IFQSPUPDPMTUIBUTFSWFSTBOEDMJFOUTVTFUPUBMLUPUIJSEQBSUZTFSWFSTNFOUJPOFEJOUIFTFSWFS
    DPOИHVSBUJPOTUSJOHT

    Ǭ 5IFQSPUPDPMTUIBUTFSWFSTBOEDMJFOUTVTFUPUBMLUPFBDIPUIFS


    4FSWFS

    WBSTFSWFS$POGJHDPOGJHVSBUJPOTUSJOHPCUBJOFEGSPNTFSWFS
    DPOUBJOTEFUBJMTTVDIBTUIF*1BEESFTTPGBTFSWFSUIBUDBOTQFBLTPNF
    QSPUPDPMUPIFMQUIFDMJFOUEFUFSNJOFJUTQVCMJD*1BEESFTT SPVUFQBDLFUT
    JGOFDFTTBSZ FUD

    WBSMPDBMOFX1FFS5P1FFS4FSWFS TFSWFS$POGJH
    
    MPDBMHFU$MJFOU$POGJHVSBUJPO GVODUJPO DPOGJHVSBUJPO
    \
    JG DPOGJHVSBUJPO
    \
    TFOEDPOGJHVSBUJPOUPPUIFSQFFSVTJOHPVUPGCBOENFDIBOJTN
    ^FMTF\

    
    XFWFFYIBVTUFEPVSPQUJPOTXBJUGPSDPOOFDUJPO
    ^
    ^
    

    $MJFOU

    WBSMPDBMOFX1FFS5P1FFS$MJFOU
    
    GVODUJPO DPOGJHVSBUJPO
    \
    DBMMFEXIFOFWFSXFHFUDPOGJHVSBUJPOJOGPSNBUJPOPVUPGCBOE
    MPDBMBEE$POGJHVSBUJPO DPOGJHVSBUJPO
    
    ^

    #PUIDMJFOUBOETFSWFS

    MPDBMPODPOOFDUGVODUJPO FWFOU
    \
    XFBSFDPOOFDUFE
    MPDBMTFOE5FYU )FMMP
    
    MPDBMMPDBM4USFBNTFOEWJEFP
    MPDBMPOTUSFBNDIBOHFGVODUJPO FWFOU
    \
    SFDFJWFWJEFP
     WJEFP&MFNFOUJTTPNFWJEFPFMFNFOU

    WJEFP&MFNFOUTSDMPDBMSFNPUF4USFBN63-
    ^
    ^

    [3;LHCHA 0HIK>O>GMG>MPHKDLGB]G@?KHF:EEHPBG@:?HNKMAI:KMRMH>LM:;EBLA:<HGG><MBHGMHMA>
    .>>K2H.>>K1>KO>K I NLBG@MA>BG?HKF:MBHGL>GMHNM
    H?
    ;:G=MHMA> .>>K2H.>>K"EB>GM I :G=MANLLIHH[G@
    MA><EB>GM MA><HG[@NK:MBHGBG?HKF:MBHGLAHNE=:EP:RL;>MK:GLFBMM>=NLBG@:G>G<KRIM>=<HGG><MBHG

      (CHEM

       $SJ?LFCHE?F?G?HNM

    5IF B Q BSFB Q BOE MJOL Q FMFNFOUTDBO JODFSUBJOTJUVBUJPOTEFTDSJCFEJOUIFEFИOJUJPOTPGUIPTFFMFNFOUT


    SFQSFTFOU BSJ?LFCHEM

    5IF CM@A BUUSJCVUFPO B Q BOE BSFB Q FMFNFOUTNVTUIBWFBWBMVFUIBUJTB WBMJE63- Q 5IJT 63- Q JTUIF
    34BC8=0C8>=A4B>DA24 PGUIFIZQFSMJOL

    *HM> 0A> AK>? I :MMKB;NM>HG : I :G= :K>: I >E>F>GMLBLGHMK>JNBK>=PA>GMAHL>>E>F>GML=H
    GHMA:O> AK>? I :MMKB;NM>LMA>R=HGHMK>IK>L>GMARI>KEBGDL

    *HM> 0A> AK>? I :MMKB;NM>HGMA> EBGD I >E>F>GM BL K>JNBK>=:G=A:LMH;>: O:EB= GHG
    >FIMR
    1.( I  ;NMPA>MA>K: EBGD I >E>F>GMK>IK>L>GML:ARI>KEBGDHKGHM=>I>G=LHGMA>O:EN>H?MA>
    K>E I :MMKB;NM>H?MA:M>E>F>GM

    5IF O<MB@O BUUSJCVUF JGQSFTFOU NVTUCFB WBMJECSPXTJOHDPOUFYUOBNFPSLFZXPSE Q *UHJWFTUIFOBNFPGUIF


    CSPXTJOHDPOUFYU Q UIBUXJMMCFVTFE 6TFSBHFOUTVTFUIJTOBNFXIFO GPMMPXJOHIZQFSMJOLT Q 

    5IF KDIB BUUSJCVUF JGQSFTFOU HJWFTUIF63-TPGUIFSFTPVSDFTUIBUBSFJOUFSFTUFEJOCFJOHOPUJИFEJGUIFVTFSGPMMPXT


    UIFIZQFSMJOL5IFWBMVFNVTUCFB TFUPGTQBDFTFQBSBUFEUPLFOT Q FBDIPGXIJDINVTUCFB WBMJEOPOFNQUZ63- Q 
    5IFWBMVFJTVTFECZUIFVTFSBHFOUGPS IZQFSMJOLBVEJUJOH Q 

    'PS B Q BOE BSFB Q FMFNFOUTUIBUSFQSFTFOUIZQFSMJOLT UIFSFMBUJPOTIJQCFUXFFOUIFEPDVNFOUDPOUBJOJOHUIF


    IZQFSMJOLBOEUIFEFTUJOBUJPOSFTPVSDFJOEJDBUFECZUIFIZQFSMJOLJTHJWFOCZUIFWBMVFPGUIFFMFNFOUT M@G BUUSJCVUF
    XIJDINVTUCFB TFUPGTQBDFTFQBSBUFEUPLFOT Q 5IF BMMPXFEWBMVFTBOEUIFJSNFBOJOHT Q BSFEFИOFECFMPX5IF
    SFM Q BUUSJCVUFIBTOPEFGBVMUWBMVF*GUIFBUUSJCVUFJTPNJUUFEPSJGOPOFPGUIFWBMVFTJOUIFBUUSJCVUFBSFSFDPHOJ[FE
    CZUIFVTFSBHFOU UIFOUIFEPDVNFOUIBTOPQBSUJDVMBSSFMBUJPOTIJQXJUIUIFEFTUJOBUJPOSFTPVSDFPUIFSUIBOUIFSF
    CFJOHBIZQFSMJOLCFUXFFOUIFUXP

    5IF H@?D< BUUSJCVUFEFTDSJCFTGPSXIJDINFEJBUIFUBSHFUEPDVNFOUXBTEFTJHOFE*UJTQVSFMZBEWJTPSZ5IFWBMVF


    NVTUCFB WBMJENFEJBRVFSZ Q 5IFEFGBVMU JGUIF NFEJB Q BUUSJCVUFJTPNJUUFE JTBMM

    5IF CM@AG<IB BUUSJCVUFPOIZQFSMJOLFMFNFOUT JGQSFTFOU HJWFTUIFMBOHVBHFPGUIFMJOLFESFTPVSDF*UJTQVSFMZ


    BEWJTPSZ5IFWBMVFNVTUCFBWBMJE#$1MBOHVBHFDPEF <#$1> Q 6TFSBHFOUTNVTUOPUDPOTJEFSUIJTBUUSJCVUF

    
    BVUIPSJUBUJWFǡVQPOGFUDIJOHUIFSFTPVSDF VTFSBHFOUTNVTUVTFPOMZMBOHVBHFJOGPSNBUJPOBTTPDJBUFEXJUIUIF
    SFTPVSDFUPEFUFSNJOFJUTMBOHVBHF OPUNFUBEBUBJODMVEFEJOUIFMJOLUPUIFSFTPVSDF

    5IF OTK@ BUUSJCVUF JGQSFTFOU HJWFTUIF .*.&UZQF Q PGUIFMJOLFESFTPVSDF*UJTQVSFMZBEWJTPSZ5IFWBMVFNVTUCFB


    WBMJE.*.&UZQF Q  6TFSBHFOUTNVTUOPUDPOTJEFSUIF UZQF Q BUUSJCVUFBVUIPSJUBUJWFǡVQPOGFUDIJOHUIFSFTPVSDF
    VTFSBHFOUTNVTUOPUVTFNFUBEBUBJODMVEFEJOUIFMJOLUPUIFSFTPVSDFUPEFUFSNJOFJUTUZQF

       "IFFIQCHABSJ?LFCHEM

    8IFOBVTFS 5>;;>FB07H?4A;8=: UIFVTFSBHFOUNVTU SFTPMWF Q UIF 63- Q HJWFOCZUIF ISFG Q BUUSJCVUFPGUIBU
    IZQFSMJOL SFMBUJWFUPUIFIZQFSMJOLFMFNFOU BOEJGUIBUJTTVDDFTTGVM NVTU OBWJHBUF Q B CSPXTJOHDPOUFYU Q UPUIF
    SFTVMUJOH BCTPMVUF63- Q *OUIFDBTFPGTFSWFSTJEFJNBHFNBQT UIF63-PGUIFIZQFSMJOLNVTUGVSUIFSIBWFJUT
    7H?4A;8=:BDRG ?  BQQFOEFEUPJU

    *G SFTPMWJOH Q UIF 63- Q GBJMT UIFVTFSBHFOUNBZSFQPSUUIFFSSPSUPUIFVTFSJOBVTFSBHFOUTQFDJИDNBOOFS NBZ


    OBWJHBUFUPBOFSSPSQBHFUPSFQPSUUIFFSSPS PSNBZJHOPSFUIFFSSPSBOEEPOPUIJOH

    *GUIFVTFSJOEJDBUFEBTQFDJИD CSPXTJOHDPOUFYU Q XIFOGPMMPXJOHUIFIZQFSMJOL PSJGUIFVTFSBHFOUJTDPOИHVSFEUP


    GPMMPXIZQFSMJOLTCZOBWJHBUJOHBQBSUJDVMBSCSPXTJOHDPOUFYU UIFOUIBUNVTUCFUIF CSPXTJOHDPOUFYU Q UIBUJT
    OBWJHBUFE

    0UIFSXJTF JGUIFIZQFSMJOLFMFNFOUJTBO B Q PS BSFB Q FMFNFOUUIBUIBTB UBSHFU Q BUUSJCVUF UIFOUIF CSPXTJOH
    DPOUFYU Q UIBUJTOBWJHBUFENVTUCFDIPTFOCZBQQMZJOH UIFSVMFTGPSDIPPTJOHBCSPXTJOHDPOUFYUHJWFOBCSPXTJOH
    DPOUFYUOBNF Q VTJOHUIFWBMVFPGUIF UBSHFU Q BUUSJCVUFBTUIFCSPXTJOHDPOUFYUOBNF*GUIFTFSVMFTSFTVMUJOUIF
    DSFBUJPOPGBOFX CSPXTJOHDPOUFYU Q JUNVTUCFOBWJHBUFEXJUI SFQMBDFNFOUFOBCMFE Q 

    0UIFSXJTF JGUIFIZQFSMJOLFMFNFOUJTB TJEFCBSIZQFSMJOL Q BOEUIFVTFSBHFOUJNQMFNFOUTBGFBUVSFUIBUDBOCF


    DPOTJEFSFEBTFDPOEBSZCSPXTJOHDPOUFYU TVDIBTFDPOEBSZCSPXTJOHDPOUFYUNBZCFTFMFDUFEBTUIFCSPXTJOH
    DPOUFYUUPCFOBWJHBUFE

    0UIFSXJTF JGUIFIZQFSMJOLFMFNFOUJTBO B Q PS BSFB Q FMFNFOUXJUIOP UBSHFU Q BUUSJCVUF CVUPOFPGUIFDIJME
    OPEFTPG UIF IFBE FMFNFOU Q JTB CBTF Q FMFNFOUXJUIB UBSHFU Q BUUSJCVUF UIFOUIFCSPXTJOHDPOUFYUUIBUJT
    OBWJHBUFENVTUCFDIPTFOCZBQQMZJOH UIFSVMFTGPSDIPPTJOHBCSPXTJOHDPOUFYUHJWFOBCSPXTJOHDPOUFYUOBNF Q
    VTJOHUIFWBMVFPGUIF UBSHFU Q BUUSJCVUFPGUIFИSTUTVDI CBTF Q FMFNFOUBTUIFCSPXTJOHDPOUFYUOBNF*GUIFTF
    SVMFTSFTVMUJOUIFDSFBUJPOPGBOFX CSPXTJOHDPOUFYU Q JUNVTUCFOBWJHBUFEXJUI SFQMBDFNFOUFOBCMFE Q 

    0UIFSXJTF UIFCSPXTJOHDPOUFYUUIBUNVTUCFOBWJHBUFEJTUIFTBNFCSPXTJOHDPOUFYUBTUIFPOFXIJDIUIFIZQFSMJOL
    FMFNFOUJUTFMGJTJO

    5IFOBWJHBUJPONVTUCFEPOFXJUIUIF CSPXTJOHDPOUFYU Q UIBUDPOUBJOTUIF %PDVNFOU Q PCKFDUXJUIXIJDIUIF


    IZQFSMJOLTFMFNFOUJORVFTUJPOJTBTTPDJBUFEBTUIF TPVSDFCSPXTJOHDPOUFYU Q 

        $SJ?LFCHE;O>CNCHA

    *GBO B Q PS BSFB Q IZQFSMJOLFMFNFOUIBTB QJOH Q BUUSJCVUF BOEUIFVTFSGPMMPXTUIFIZQFSMJOL BOEUIFIZQFSMJOLT
    63- Q DBOCF SFTPMWFE Q SFMBUJWFUPUIFIZQFSMJOLFMFNFOU XJUIPVUGBJMVSF UIFOUIFVTFSBHFOUNVTUUBLFUIF
    QJOH Q BUUSJCVUFTWBMVF TQMJUUIBUTUSJOHPOTQBDFT Q SFTPMWF Q FBDISFTVMUJOHUPLFOSFMBUJWFUPUIFIZQFSMJOL
    FMFNFOU BOEUIFOTIPVMETFOEBSFRVFTU BTEFTDSJCFECFMPX
    UPFBDIPGUIFSFTVMUJOH BCTPMVUF63-T Q  5PLFOTUIBU
    GBJMUPSFTPMWFBSFJHOPSFE
    5IJTNBZCFEPOFJOQBSBMMFMXJUIUIFQSJNBSZSFRVFTU BOEJTJOEFQFOEFOUPGUIFSFTVMUPG
    UIBUSFRVFTU

    6TFSBHFOUTTIPVMEBMMPXUIFVTFSUPBEKVTUUIJTCFIBWJPS GPSFYBNQMFJODPOKVODUJPOXJUIBTFUUJOHUIBUEJTBCMFTUIF
    TFOEJOHPG)551 3FGFSFS TJD
    IFBEFST#BTFEPOUIFVTFSTQSFGFSFODFT 6"TNBZFJUIFS JHOPSF Q UIF QJOH Q
    BUUSJCVUFBMUPHFUIFS PSTFMFDUJWFMZJHOPSF63-TJOUIFMJTU FHJHOPSJOHBOZUIJSEQBSUZ63-T
    

    'PS63-TUIBUBSF)55163-T UIFSFRVFTUTNVTUCFQFSGPSNFECZ GFUDIJOH Q UIFTQFDJИFE63-TVTJOHUIF1045


    NFUIPE XJUIBOFOUJUZCPEZXJUIUIF .*.&UZQF Q UFYUQJOH Q DPOTJTUJOHPGUIFGPVSDIBSBDUFSTUSJOH1*/( GSPN
    UIF PSJHJO Q PGUIF %PDVNFOU Q DPOUBJOJOHUIF IZQFSMJOL Q "MMSFMFWBOUDPPLJFBOE)551BVUIFOUJDBUJPOIFBEFST
    NVTUCFJODMVEFEJOUIFSFRVFTU8IJDIPUIFSIFBEFSTBSFSFRVJSFEEFQFOETPOUIF63-TJOWPMWFE
    J
    X %@<INBNB? ;>>L?MM I@NB? "J>PH@IO K I<D?=N=IHN;CHCHANB?BSJ?LFCHE<?CHA;O>CN?>;H>NB?JCHA
    1.(B;P?NB? M;G?ILCACH J
    5IFSFRVFTUNVTUJODMVEFB 1JOH'SPN Q )551IFBEFSXJUI BTJUTWBMVF UIF BEESFTT Q PGUIFEPDVNFOU
    DPOUBJOJOHUIFIZQFSMJOL BOEB 1JOH5P Q )551IFBEFSXJUI BTJUTWBMVF UIFBEESFTTPGUIF BCTPMVUF
    63- Q PGUIFUBSHFUPGUIFIZQFSMJOL5IFSFRVFTUNVTUOPUJODMVEFB 3FGFSFS TJD
    )551IFBEFS

    
    X +NB?LQCM?
    C@NB?ILCACHM;L?>C\?L?HN
    <ONNB?>I=OG?HN=IHN;CHCHANB?BSJ?LFCHE<?CHA;O>CN?>Q;M
    HINL?NLC?P?>IP?L;H?H=LSJN?>=IHH?=NCIH
    5IFSFRVFTUNVTUJODMVEFB 3FGFSFS TJD
    )551IFBEFSXJUI BTJUTWBMVF UIF DVSSFOUBEESFTT Q PGUIF
    EPDVNFOUDPOUBJOJOHUIFIZQFSMJOL B 1JOH'SPN Q )551IFBEFSXJUIUIFTBNFWBMVF BOEB 1JOH5P Q
    )551IFBEFSXJUI BTJUTWBMVF UIFBEESFTTPGUIFUBSHFUPGUIFIZQFSMJOL

    X +NB?LQCM?
    NB?ILCACHM;L?>C\?L?HN;H>NB?>I=OG?HN=IHN;CHCHANB?BSJ?LFCHE<?CHA;O>CN?>Q;M
    L?NLC?P?>IP?L;H?H=LSJN?>=IHH?=NCIH
    5IFSFRVFTUNVTUJODMVEFB 1JOH5P Q )551IFBEFSXJUI BTJUTWBMVF UIFBEESFTTPGUIFUBSHFUPGUIF
    IZQFSMJOL5IFSFRVFTUNVTUOFJUIFSJODMVEFB 3FGFSFS TJD
    )551IFBEFSOPSJODMVEFB 1JOH'SPN Q )551
    IFBEFS

    *HM> 0HL:O>;:G=PB=MA BFIE>F>GMHKLFB@AM:ELHPBLAMH<HGLB=>KHFBMMBG@HIMBHG:EA>:=>KL


    LN<A:L <<>IM ?KHFMA>L>K>JN>LML

    6TFSBHFOUTNVTU VOMFTTPUIFSXJTFTQFDJИFECZUIFVTFS IPOPSUIF)551IFBEFST JODMVEJOH JOQBSUJDVMBS SFEJSFDUT


    BOE)551DPPLJFIFBEFST
    CVUNVTUJHOPSFBOZFOUJUZCPEJFTSFUVSOFEJOUIFSFTQPOTFT6TFSBHFOUTNBZDMPTFUIF
    DPOOFDUJPOQSFNBUVSFMZPODFUIFZTUBSUSFDFJWJOHBOFOUJUZCPEZ <$00,*&4> Q

    'PS63-TUIBUBSFOPU)55163-T UIFSFRVFTUTNVTUCFQFSGPSNFECZ GFUDIJOH Q UIFTQFDJИFE63-OPSNBMMZ BOE


    EJTDBSEJOHUIFSFTVMUT

    8IFOUIF QJOH Q BUUSJCVUFJTQSFTFOU VTFSBHFOUTTIPVMEDMFBSMZJOEJDBUFUPUIFVTFSUIBUGPMMPXJOHUIFIZQFSMJOLXJMM


    BMTPDBVTFTFDPOEBSZSFRVFTUTUPCFTFOUJOUIFCBDLHSPVOE QPTTJCMZJODMVEJOHMJTUJOHUIFBDUVBMUBSHFU63-T

    'PSFYBNQMF BWJTVBMVTFSBHFOUDPVMEJODMVEFUIFIPTUOBNFTPGUIFUBSHFUQJOH63-TBMPOHXJUIUIFIZQFSMJOLT
    BDUVBM63-JOBTUBUVTCBSPSUPPMUJQ

    0A> IBG@ I :MMKB;NM>BLK>=NG=:GMPBMAIK>


    >QBLMBG@M><AGHEH@B>LEBD>$00,K>=BK><ML:G=
    &:O:/<KBIMBG:EEHPBG@3>;I:@>LMHMK:<DPAB<AHZ
    LBM>EBGDL:K>FHLMIHINE:KHK:EEHPBG@
    :=O>KMBL>KLMHMK:<D<EB<D
    MAKHN@AK:M>L

    $HP>O>K MA> IBG@ I :MMKB;NM>IKHOB=>LMA>L>:=O:GM:@>LMHMA>NL>KHO>KMAHL>:EM>KG:MBO>L

    X %M:EEHPLMA>NL>KMHL>>MA>[G:EM:K@>M1.(NGH;L<NK>=

    X %M:EEHPLMA>1MHBG?HKFMA>NL>K:;HNMMA>HNM
    H?
    ;:G=GHMB[<:MBHGL

    X %M:EEHPLMA>NL>KMH=BL:;E>MA>GHMB[<:MBHGLPBMAHNMEHLBG@MA>NG=>KERBG@EBGD
    ?NG<MBHG:EBMR

    X %M:EEHPLMA>1MHHIMBFBS>MA>NL>H?:O:BE:;E>G>MPHKD;:G=PB=MALHMA:MMA>M:K@>M
    I:@>EH:=L?:LM>K

    0ANL PABE>BMBLIHLLB;E>MHMK:<DNL>KLPBMAHNMMABL?>:MNK> :NMAHKL:K>>G<HNK:@>=MHNL>MA>


    IBG@ I :MMKB;NM>LHMA:MMA>NL>K:@>GM<:GF:D>MA>NL>K>QI>KB>G<>FHK>MK:GLI:K>GM

       (CHENSJ?M

    5IFGPMMPXJOHUBCMFTVNNBSJ[FTUIFMJOLUZQFTUIBUBSFEFИOFECZUIJTTQFDJИDBUJPO5IJTUBCMFJTOPOOPSNBUJWFUIF
    BDUVBMEFИOJUJPOTGPSUIFMJOLUZQFTBSFHJWFOJOUIFOFYUGFXTFDUJPOT

    *OUIJTTFDUJPO UIFUFSN A454A4=2433>2D<4=C SFGFSTUPUIFSFTPVSDFJEFOUJИFECZUIFFMFNFOUSFQSFTFOUJOHUIFMJOL


    BOEUIFUFSN 2DAA4=C3>2D<4=C SFGFSTUPUIFSFTPVSDFXJUIJOXIJDIUIFFMFNFOUSFQSFTFOUJOHUIFMJOLИOETJUTFMG

    5PEFUFSNJOFXIJDIMJOLUZQFTBQQMZUPB MJOL Q B Q PS BSFB Q FMFNFOU UIFFMFNFOUT SFM BUUSJCVUFNVTUCF TQMJU
    POTQBDFT Q 5IFSFTVMUJOHUPLFOTBSFUIFMJOLUZQFTUIBUBQQMZUPUIBUFMFNFOU

    &YDFQUXIFSFPUIFSXJTFTQFDJИFE BLFZXPSENVTUOPUCFTQFDJИFENPSFUIBOPODFQFS SFM BUUSJCVUF

    5IFMJOLUZQFTUIBUDPOUBJOOP6 "$0-0/DIBSBDUFST 
    JODMVEJOHBMMUIPTFEFИOFEJOUIJTTQFDJИDBUJPO BSF "4$**
    DBTFJOTFOTJUJWF Q WBMVFT BOENVTUCFDPNQBSFEBTTVDI

    5IVT SFMOFYU JTUIFTBNFBT SFM/&95

    
    (CHENSJ? !\?=NIH LC?@>?M=LCJNCIH
    GDIF K < K ;H>
    <M@< K

    BMUFSOBUF Q )ZQFSMJOL Q )ZQFSMJOL Q (JWFTBMUFSOBUFSFQSFTFOUBUJPOTPGUIFDVSSFOUEPDVNFOU


    Q Q
    BSDIJWFT )ZQFSMJOL )ZQFSMJOL Q 1SPWJEFTBMJOLUPBDPMMFDUJPOPGSFDPSET EPDVNFOUT PSPUIFSNBUFSJBMTPGIJTUPSJDBMJOUFSFTU
    Q Q
    BVUIPS )ZQFSMJOL )ZQFSMJOL Q (JWFTBMJOLUPUIFDVSSFOUEPDVNFOUTBVUIPS
    Q
    CPPLNBSL =>C0;;>F43 )ZQFSMJOL Q (JWFTUIFQFSNBMJOLGPSUIFOFBSFTUBODFTUPSTFDUJPO
    Q
    FYUFSOBM =>C0;;>F43 )ZQFSMJOL Q *OEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUJTOPUQBSUPGUIFTBNFTJUFBTUIFDVSSFOUEPDVNFOU
    GJSTU Q )ZQFSMJOL Q )ZQFSMJOL Q *OEJDBUFTUIBUUIFDVSSFOUEPDVNFOUJTBQBSUPGBTFSJFT BOEUIBUUIFИSTUEPDVNFOUJOUIF
    TFSJFTJTUIFSFGFSFODFEEPDVNFOU
    IFMQ Q )ZQFSMJOL Q )ZQFSMJOL Q 1SPWJEFTBMJOLUPDPOUFYUTFOTJUJWFIFMQ
    Q
    JDPO &YUFSOBM =>C0;;>F43 *NQPSUTBOJDPOUPSFQSFTFOUUIFDVSSFOUEPDVNFOU
    3FTPVSDF Q
    JOEFY Q )ZQFSMJOL Q )ZQFSMJOL Q (JWFTBMJOLUPUIFEPDVNFOUUIBUQSPWJEFTBUBCMFPGDPOUFOUTPSJOEFYMJTUJOHUIFDVSSFOU
    EPDVNFOU
    MBTU Q )ZQFSMJOL Q )ZQFSMJOL Q *OEJDBUFTUIBUUIFDVSSFOUEPDVNFOUJTBQBSUPGBTFSJFT BOEUIBUUIFMBTUEPDVNFOUJOUIF
    TFSJFTJTUIFSFGFSFODFEEPDVNFOU
    MJDFOTF Q )ZQFSMJOL Q )ZQFSMJOL Q *OEJDBUFTUIBUUIFNBJODPOUFOUPGUIFDVSSFOUEPDVNFOUJTDPWFSFECZUIFDPQZSJHIUMJDFOTF
    EFTDSJCFECZUIFSFGFSFODFEEPDVNFOU
    OFYU Q )ZQFSMJOL Q )ZQFSMJOL Q *OEJDBUFTUIBUUIFDVSSFOUEPDVNFOUJTBQBSUPGBTFSJFT BOEUIBUUIFOFYUEPDVNFOUJOUIF
    TFSJFTJTUIFSFGFSFODFEEPDVNFOU
    OPGPMMPX Q =>C0;;>F43 )ZQFSMJOL Q *OEJDBUFTUIBUUIFDVSSFOUEPDVNFOUTPSJHJOBMBVUIPSPSQVCMJTIFSEPFTOPUFOEPSTFUIF
    SFGFSFODFEEPDVNFOU
    OPSFGFSSFS Q =>C0;;>F43 )ZQFSMJOL Q 3FRVJSFTUIBUUIFVTFSBHFOUOPUTFOEBO)551 3FGFSFS TJD
    IFBEFSJGUIFVTFSGPMMPXTUIF
    IZQFSMJOL
    QJOHCBDL Q &YUFSOBM =>C0;;>F43 (JWFTUIFBEESFTTPGUIFQJOHCBDLTFSWFSUIBUIBOEMFTQJOHCBDLTUPUIFDVSSFOUEPDVNFOU
    3FTPVSDF Q
    QSFGFUDI Q &YUFSOBM =>C0;;>F43 4QFDJИFTUIBUUIFUBSHFUSFTPVSDFTIPVMECFQSFFNQUJWFMZDBDIFE
    3FTPVSDF Q
    QSFW Q )ZQFSMJOL Q )ZQFSMJOL Q *OEJDBUFTUIBUUIFDVSSFOUEPDVNFOUJTBQBSUPGBTFSJFT BOEUIBUUIFQSFWJPVTEPDVNFOUJO
    UIFTFSJFTJTUIFSFGFSFODFEEPDVNFOU
    TFBSDI Q )ZQFSMJOL Q )ZQFSMJOL Q (JWFTBMJOLUPBSFTPVSDFUIBUDBOCFVTFEUPTFBSDIUISPVHIUIFDVSSFOUEPDVNFOUBOEJUT
    SFMBUFEQBHFT
    TUZMFTIFFU Q &YUFSOBM =>C0;;>F43 *NQPSUTBTUZMFTIFFU
    3FTPVSDF Q
    TJEFCBS Q )ZQFSMJOL Q )ZQFSMJOL Q 4QFDJИFTUIBUUIFSFGFSFODFEEPDVNFOU JGSFUSJFWFE JTJOUFOEFEUPCFTIPXOJOUIFCSPXTFST
    TJEFCBS JGJUIBTPOF
    
    UBH Q )ZQFSMJOL Q )ZQFSMJOL Q (JWFTBUBH JEFOUJИFECZUIFHJWFOBEESFTT
    UIBUBQQMJFTUPUIFDVSSFOUEPDVNFOU
    Q Q
    VQ )ZQFSMJOL )ZQFSMJOL Q 1SPWJEFTBMJOLUPBEPDVNFOUHJWJOHUIFDPOUFYUGPSUIFDVSSFOUEPDVNFOU

    4PNFPGUIFUZQFTEFTDSJCFECFMPXMJTUTZOPOZNTGPSUIFTFWBMVFT5IFTFBSFUPCFIBOEMFEBTTQFDJИFECZVTFS
    BHFOUT CVUNVTUOPUCFVTFEJOEPDVNFOUT

        (CHENSJ?<GO@MI<O@

    5IF BMUFSOBUF Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT

    5IFNFBOJOHPGUIJTLFZXPSEEFQFOETPOUIFWBMVFTPGUIFPUIFSBUUSJCVUFT
    K
    X %@NB??F?G?HNCM; GDIF ?F?G?HN;H>NB? M@G K ;NNLC<ON?;FMI=IHN;CHMNB?E?SQIL> NOTG@NC@@O K
    5IF BMUFSOBUF Q LFZXPSENPEJИFTUIFNFBOJOHPGUIF TUZMFTIFFU Q LFZXPSEJOUIFXBZEFTDSJCFEGPS
    UIBULFZXPSE5IF BMUFSOBUF Q LFZXPSEEPFTOPUDSFBUFBMJOLPGJUTPXO
    K
    X 0B? <GO@MI<O@ E?SQIL>CMOM?>QCNBNB? OTK@ K ;NNLC<ON?M?NNINB?P;FO? <KKGD><ODJIMNN
    SHG IL
    NB?P;FO? <KKGD><ODJI<OJH
    SHG
    5IFMJOLJTB IZQFSMJOL Q SFGFSFODJOHBTZOEJDBUJPOGFFE UIPVHIOPUOFDFTTBSJMZTZOEJDBUJOHFYBDUMZUIF
    TBNFDPOUFOUBTUIFDVSSFOUQBHF
    

    5IFИSTU MJOL Q B Q PS BSFB Q FMFNFOUJOUIFEPDVNFOU JOUSFFPSEFS


    XJUIUIF BMUFSOBUF Q LFZXPSE
    VTFEXJUIUIF UZQF Q BUUSJCVUFTFUUPUIFWBMVF BQQMJDBUJPOSTT YNM PSUIFWBMVF BQQMJDBUJPOBUPN YNM
    NVTUCFUSFBUFEBTUIFEFGBVMUTZOEJDBUJPOGFFEGPSUIFQVSQPTFTPGGFFEBVUPEJTDPWFSZ

    5IFGPMMPXJOH MJOL Q FMFNFOUHJWFTUIFTZOEJDBUJPOGFFEGPSUIFDVSSFOUQBHF

    MJOLSFMBMUFSOBUFUZQFBQQMJDBUJPOBUPN YNMISFGEBUBYNM

    
    5IFGPMMPXJOHFYUSBDUPЗFSTWBSJPVTEJЗFSFOUTZOEJDBUJPOGFFET

    Q:PVDBOBDDFTTUIFQMBOFUTEBUBCBTFVTJOH"UPNGFFETQ
    VM
    MJBISFGSFDFOUMZWJTJUFEQMBOFUTYNMSFMBMUFSOBUFUZQFBQQMJDBUJPO
    BUPN YNM3FDFOUMZ7JTJUFE1MBOFUTBMJ
    MJBISFGLOPXOCBEQMBOFUTYNMSFMBMUFSOBUFUZQFBQQMJDBUJPO
    BUPN YNM,OPXO#BE1MBOFUTBMJ
    MJBISFGVOFYQMPSFEQMBOFUTYNMSFMBMUFSOBUFUZQFBQQMJDBUJPO
    BUPN YNM6OFYQMPSFE1MBOFUTBMJ
    VM

    X +NB?LQCM?
    5IFMJOLJTB IZQFSMJOL Q SFGFSFODJOHBOBMUFSOBUFSFQSFTFOUBUJPOPGUIFDVSSFOUEPDVNFOU

    5IFOBUVSFPGUIFSFGFSFODFEEPDVNFOUJTHJWFOCZUIF NFEJB Q ISFGMBOH Q BOE UZQF Q BUUSJCVUFT

    *GUIF BMUFSOBUF Q LFZXPSEJTVTFEXJUIUIF NFEJB Q BUUSJCVUF JUJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUJT


    JOUFOEFEGPSVTFXJUIUIFNFEJBTQFDJИFE

    *GUIF BMUFSOBUF Q LFZXPSEJTVTFEXJUIUIF ISFGMBOH Q BUUSJCVUF BOEUIBUBUUSJCVUFTWBMVFEJЗFSTGSPN


    UIF SPPUFMFNFOU Q T MBOHVBHF Q JUJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUJTBUSBOTMBUJPO

    *GUIF BMUFSOBUF Q LFZXPSEJTVTFEXJUIUIF UZQF Q BUUSJCVUF JUJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUJT


    BSFGPSNVMBUJPOPGUIFDVSSFOUEPDVNFOUJOUIFTQFDJИFEGPSNBU

    5IF NFEJB Q ISFGMBOH Q BOE UZQF Q BUUSJCVUFTDBOCFDPNCJOFEXIFOTQFDJИFEXJUIUIF BMUFSOBUF Q
    LFZXPSE

    'PSFYBNQMF UIFGPMMPXJOHMJOLJTB'SFODIUSBOTMBUJPOUIBUVTFTUIF1%'GPSNBU

    MJOLSFMBMUFSOBUFUZQFBQQMJDBUJPOQEGISFGMBOHGSISFGNBOVBMGS
    5IJTSFMBUJPOTIJQJTUSBOTJUJWFǡUIBUJT JGBEPDVNFOUMJOLTUPUXPPUIFSEPDVNFOUTXJUIUIFMJOLUZQF
    BMUFSOBUF Q  UIFO JOBEEJUJPOUPJNQMZJOHUIBUUIPTFEPDVNFOUTBSFBMUFSOBUJWFSFQSFTFOUBUJPOTPGUIF
    ИSTUEPDVNFOU JUJTBMTPJNQMZJOHUIBUUIPTFUXPEPDVNFOUTBSFBMUFSOBUJWFSFQSFTFOUBUJPOTPGFBDIPUIFS

        (CHENSJ?<M>CDQ@N

    5IF BSDIJWFT Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    5IF BSDIJWFT Q LFZXPSEJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUEFTDSJCFTBDPMMFDUJPOPGSFDPSET EPDVNFOUT PS


    PUIFSNBUFSJBMTPGIJTUPSJDBMJOUFSFTU

    "CMPHTJOEFYQBHFDPVMEMJOLUPBOJOEFYPGUIFCMPHTQBTUQPTUTXJUI SFMBSDIJWFT

    /SHIHSGM'PSIJTUPSJDBMSFBTPOT VTFSBHFOUTNVTUBMTPUSFBUUIFLFZXPSEBSDIJWFMJLFUIF BSDIJWFT Q LFZXPSE

        (CHENSJ?<POCJM

    5IF BVUIPS Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    'PS B Q BOE BSFB Q FMFNFOUT UIF BVUIPS Q LFZXPSEJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUQSPWJEFTGVSUIFS
    JOGPSNBUJPOBCPVUUIFBVUIPSPGUIFOFBSFTU BSUJDMF Q FMFNFOUBODFTUPSPGUIFFMFNFOUEFИOJOHUIFIZQFSMJOL JG
    UIFSFJTPOF PSPGUIFQBHFBTBXIPMF PUIFSXJTF

    'PS MJOL Q FMFNFOUT UIF BVUIPS Q LFZXPSEJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUQSPWJEFTGVSUIFSJOGPSNBUJPO


    BCPVUUIFBVUIPSGPSUIFQBHFBTBXIPMF

    *HM> 0A>K>?>K>G<>==H<NF>GM<:G;> :G=H?M>GBL : F:BEMH 1.(@BOBG@MA>>


    F:BE:==K>LLH?
    MA>:NMAHK 7)%(0+8 I

    /SHIHSGM'PSIJTUPSJDBMSFBTPOT VTFSBHFOUTNVTUBMTPUSFBU MJOL Q B Q BOE BSFB Q FMFNFOUTUIBUIBWFB SFW
    BUUSJCVUFXJUIUIFWBMVFNBEFBTIBWJOHUIF BVUIPS Q LFZXPSETQFDJИFEBTBMJOLSFMBUJPOTIJQ

    
        (CHENSJ?=JJFH<MF

    5IF CPPLNBSL Q LFZXPSENBZCFVTFEXJUI B Q BOE BSFB Q FMFNFOUT

    5IF CPPLNBSL Q LFZXPSEHJWFTBQFSNBMJOLGPSUIFOFBSFTUBODFTUPS BSUJDMF Q FMFNFOUPGUIFMJOLJOHFMFNFOUJO


    RVFTUJPO PSPG UIFTFDUJPOUIFMJOLJOHFMFNFOUJTNPTUDMPTFMZBTTPDJBUFEXJUI Q JGUIFSFBSFOPBODFTUPS BSUJDMF Q
    FMFNFOUT

    5IFGPMMPXJOHTOJQQFUIBTUISFFQFSNBMJOLT"VTFSBHFOUDPVMEEFUFSNJOFXIJDIQFSNBMJOLBQQMJFTUPXIJDIQBSU
    PGUIFTQFDCZMPPLJOHBUXIFSFUIFQFSNBMJOLTBSFHJWFO

    
    CPEZ
    I&YBNQMFPGQFSNBMJOLTI
    EJWJEB
    I'JSTUFYBNQMFI
    QBISFGBIUNMSFMCPPLNBSL5IJTBQFSNBMJOLBQQMJFTUP
    POMZUIFDPOUFOUGSPNUIFGJSTU)UPUIFTFDPOE)5IF%*7JTOU
    FYBDUMZUIBUTFDUJPO CVUJUSPVHIMZDPSSFTQPOETUPJUQ
    EJW
    I4FDPOEFYBNQMFI
    BSUJDMFJEC
    QBISFGCIUNMSFMCPPLNBSL5IJTBQFSNBMJOLBQQMJFTUP
    UIFPVUFS"35*$-&FMFNFOU XIJDIDPVMECF FH BCMPHQPTU
    Q
    BSUJDMFJED
    QBISFGDIUNMSFMCPPLNBSL5IJTBQFSNBMJOLBQQMJFTUP
    UIFJOOFS"35*$-&FMFNFOU XIJDIDPVMECF FH BCMPHDPNNFOU
    Q
    BSUJDMF
    BSUJDMF
    CPEZ
    

        (CHENSJ?@SO@MI<G

    5IF FYUFSOBM Q LFZXPSENBZCFVTFEXJUI B Q BOE BSFB Q FMFNFOUT

    5IF FYUFSOBM Q LFZXPSEJOEJDBUFTUIBUUIFMJOLJTMFBEJOHUPBEPDVNFOUUIBUJTOPUQBSUPGUIFTJUFUIBUUIFDVSSFOU


    EPDVNFOUGPSNTBQBSUPG

        (CHENSJ?C@GK

    5IF IFMQ Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    'PS B Q BOE BSFB Q FMFNFOUT UIF IFMQ Q LFZXPSEJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUQSPWJEFTGVSUIFSIFMQ
    JOGPSNBUJPOGPSUIFQBSFOUPGUIFFMFNFOUEFИOJOHUIFIZQFSMJOL BOEJUTDIJMESFO

    *OUIFGPMMPXJOHFYBNQMF UIFGPSNDPOUSPMIBTBTTPDJBUFEDPOUFYUTFOTJUJWFIFMQ5IFVTFSBHFOUDPVMEVTFUIJT
    JOGPSNBUJPO GPSFYBNQMF EJTQMBZJOHUIFSFGFSFODFEEPDVNFOUJGUIFVTFSQSFTTFTUIF)FMQPS'LFZ

    QMBCFM5PQJDJOQVUOBNFUPQJDBISFGIFMQUPQJDIUNM
    SFMIFMQ )FMQ
    BMBCFMQ

    'PS MJOL Q FMFNFOUT UIF IFMQ Q LFZXPSEJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUQSPWJEFTIFMQGPSUIFQBHFBTB


    XIPMF

        (CHENSJ?D>JI

    5IF JDPO Q LFZXPSENBZCFVTFEXJUI MJOL Q FMFNFOUT GPSXIJDIJUDSFBUFTBO FYUFSOBMSFTPVSDFMJOL Q 

    5IFTQFDJИFESFTPVSDFJTBOJDPOSFQSFTFOUJOHUIFQBHFPSTJUF BOETIPVMECFVTFECZUIFVTFSBHFOUXIFO
    SFQSFTFOUJOHUIFQBHFJOUIFVTFSJOUFSGBDF

    *DPOTDPVMECFBVEJUPSZJDPOT WJTVBMJDPOT PSPUIFSLJOETPGJDPOT *GNVMUJQMFJDPOTBSFQSPWJEFE UIFVTFSBHFOUNVTU


    TFMFDUUIFNPTUBQQSPQSJBUFJDPOBDDPSEJOHUPUIF UZQF Q NFEJB Q BOE TJ[FT Q BUUSJCVUFT*GUIFSFBSFNVMUJQMF
    FRVBMMZBQQSPQSJBUFJDPOT VTFSBHFOUTNVTUVTFUIFMBTUPOFEFDMBSFEJO USFFPSEFS Q *GUIFVTFSBHFOUUSJFTUPVTFBO

    
    JDPOCVUUIBUJDPOJTEFUFSNJOFE VQPODMPTFSFYBNJOBUJPO UPJOGBDUCFJOBQQSPQSJBUF FHCFDBVTFJUVTFTBO
    VOTVQQPSUFEGPSNBU
    UIFOUIFVTFSBHFOUNVTUUSZUIFOFYUNPTUBQQSPQSJBUFJDPOBTEFUFSNJOFECZUIFBUUSJCVUFT

    5IFSFJTOPEFGBVMUUZQFGPSSFTPVSDFTHJWFOCZUIF JDPO Q LFZXPSE)PXFWFS GPSUIFQVSQPTFTPG EFUFSNJOJOHUIF


    UZQFPGUIFSFTPVSDF Q VTFSBHFOUTNVTUFYQFDUUIFSFTPVSDFUPCFBOJNBHF

    5IF NDU@N BUUSJCVUFHJWFTUIFTJ[FTPGJDPOTGPSWJTVBMNFEJB

    *GTQFDJИFE UIFBUUSJCVUFNVTUIBWFBWBMVFUIBUJTBO VOPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFEUPLFOT Q 5IFWBMVFT


    NVTUBMMCFFJUIFS BOZ Q PSBWBMVFUIBUDPOTJTUTPGUXP WBMJEOPOOFHBUJWFJOUFHFST Q UIBUEPOPUIBWFBMFBEJOH
    6 %*(*5;&30 
    DIBSBDUFSBOEUIBUBSFTFQBSBUFECZBTJOHMF6 -"5*/4."---&55&39DIBSBDUFS Y
    

    5IFLFZXPSETSFQSFTFOUJDPOTJ[FT

    5PQBSTFBOEQSPDFTTUIFBUUSJCVUFTWBMVF UIFVTFSBHFOUNVTUИSTU TQMJUUIFBUUSJCVUFTWBMVFPOTQBDFT Q BOENVTU


    UIFOQBSTFFBDISFTVMUJOHLFZXPSEUPEFUFSNJOFXIBUJUSFQSFTFOUT

    5IF <IT LFZXPSESFQSFTFOUTUIBUUIFSFTPVSDFDPOUBJOTBTDBMBCMFJDPO FHBTQSPWJEFECZBO47(JNBHF

    0UIFSLFZXPSETNVTUCFGVSUIFSQBSTFEBTGPMMPXTUPEFUFSNJOFXIBUUIFZSFQSFTFOU

    Ǭ *GUIFLFZXPSEEPFTOUDPOUBJOFYBDUMZPOF6 -"5*/4."---&55&39DIBSBDUFS Y
    UIFOUIJTLFZXPSE
    EPFTOUSFQSFTFOUBOZUIJOH"CPSUUIFTFTUFQTGPSUIBULFZXPSE

    Ǭ -FU F83C7BCA8=6 CFUIFTUSJOHCFGPSFUIFY

    Ǭ -FU 74867CBCA8=6 CFUIFTUSJOHBGUFSUIFY

    Ǭ *GFJUIFS F83C7BCA8=6 PS 74867CBCA8=6 TUBSUXJUIB6 %*(*5;&30 


    DIBSBDUFSPSDPOUBJOBOZDIBSBDUFST
    PUIFSUIBODIBSBDUFSTJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    UIFOUIJTLFZXPSE
    EPFTOUSFQSFTFOUBOZUIJOH"CPSUUIFTFTUFQTGPSUIBULFZXPSE

    Ǭ "QQMZUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q UP F83C7BCA8=6 UPPCUBJO F83C7

    Ǭ "QQMZUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q UP 74867CBCA8=6 UPPCUBJO 74867C

    Ǭ 5IFLFZXPSESFQSFTFOUTUIBUUIFSFTPVSDFDPOUBJOTBCJUNBQJDPOXJUIBXJEUIPG F83C7 EFWJDFQJYFMTBOEB


    IFJHIUPG 74867C EFWJDFQJYFMT

    5IFLFZXPSETTQFDJИFEPOUIF TJ[FT Q BUUSJCVUFNVTUOPUSFQSFTFOUJDPOTJ[FTUIBUBSFOPUBDUVBMMZBWBJMBCMFJOUIF


    MJOLFESFTPVSDF

    *GUIFBUUSJCVUFJTOPUTQFDJИFE UIFOUIFVTFSBHFOUNVTUBTTVNFUIBUUIFHJWFOJDPOJTBQQSPQSJBUF CVUMFTT


    BQQSPQSJBUFUIBOBOJDPOPGBLOPXOBOEBQQSPQSJBUFTJ[F

    5IFGPMMPXJOHTOJQQFUTIPXTUIFUPQQBSUPGBOBQQMJDBUJPOXJUITFWFSBMJDPOT

    %0$5:1&)5.-
    IUNM
    IFBE
    UJUMFMT'PSVNTz*OCPYUJUMF
    MJOLSFMJDPOISFGGBWJDPOQOHTJ[FTYUZQFJNBHFQOH
    MJOLSFMJDPOISFGXJOEPXTJDPTJ[FTYYUZQFJNBHFWOENJDSPTPGUJDPO
    MJOLSFMJDPOISFGNBDJDOTTJ[FTYYYY
    MJOLSFMJDPOISFGJQIPOFQOHTJ[FTYUZQFJNBHFQOH
    MJOLSFMJDPOISFGHOPNFTWHTJ[FTBOZUZQFJNBHFTWH YNM
    MJOLSFMTUZMFTIFFUISFGMTGPSVNTDTT
    TDSJQUTSDMTGPSVNTKTTDSJQU
    NFUBOBNFBQQMJDBUJPOOBNFDPOUFOUMT'PSVNT
    IFBE
    CPEZ
    

        (CHENSJ?GD>@IN@

    5IF MJDFOTF Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    
    5IF MJDFOTF Q LFZXPSEJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUQSPWJEFTUIFDPQZSJHIUMJDFOTFUFSNTVOEFSXIJDIUIF
    NBJODPOUFOUPGUIFDVSSFOUEPDVNFOUJTQSPWJEFE

    5IJTTQFDJИDBUJPOEPFTOPUTQFDJGZIPXUPEJTUJOHVJTICFUXFFOUIFNBJODPOUFOUPGBEPDVNFOUBOEDPOUFOUUIBUJTOPU
    EFFNFEUPCFQBSUPGUIBUNBJODPOUFOU5IFEJTUJODUJPOTIPVMECFNBEFDMFBSUPUIFVTFS

    $POTJEFSBQIPUPTIBSJOHTJUF"QBHFPOUIBUTJUFNJHIUEFTDSJCFBOETIPXBQIPUPHSBQI BOEUIFQBHFNJHIU
    CFNBSLFEVQBTGPMMPXT

    %0$5:1&)5.-
    IUNM
    IFBE
    UJUMF&YBNQM1JDUVSFT,JTTBUUJUMF
    MJOLSFMTUZMFTIFFUISFGTUZMFEFGBVMU
    IFBE
    CPEZ
    I,JTTBUI
    OBW
    BISFG3FUVSOUPQIPUPJOEFYB
    OBW
    GJHVSF
    JNHTSDQJY@GEEDECKQH
    GJHDBQUJPO,JTTBUGJHDBQUJPO
    GJHVSF
    Q0OFPGUIFNIBTTJYUPFTQ
    QTNBMMBSFMMJDFOTFISFGIUUQXXXPQFOTPVSDFPSHMJDFOTFT
    NJUMJDFOTFQIQ.*5-JDFOTFEBTNBMMQ
    GPPUFS
    BISFG)PNFB]BISFG1IPUPJOEFYB
    QTNBMMaDPQZSJHIU&YBNQM1JDUVSFT"MM3JHIUT3FTFSWFETNBMMQ
    GPPUFS
    CPEZ
    IUNM

    *OUIJTDBTFUIF MJDFOTF Q BQQMJFTUPKVTUUIFQIPUP UIFNBJODPOUFOUPGUIFEPDVNFOU


    OPUUIFXIPMF
    EPDVNFOU*OQBSUJDVMBSOPUUIFEFTJHOPGUIFQBHFJUTFMG XIJDIJTDPWFSFECZUIFDPQZSJHIUHJWFOBUUIFCPUUPN
    PGUIFEPDVNFOU5IJTDPVMECFNBEFDMFBSFSJOUIFTUZMJOH FHNBLJOHUIFMJDFOTFMJOLQSPNJOFOUMZQPTJUJPOFE
    OFBSUIFQIPUPHSBQI XIJMFIBWJOHUIFQBHFDPQZSJHIUJOMJHIUTNBMMUFYUBUUIFGPPUPGUIFQBHF

    /SHIHSGM'PSIJTUPSJDBMSFBTPOT VTFSBHFOUTNVTUBMTPUSFBUUIFLFZXPSEDPQZSJHIUMJLFUIF MJDFOTF Q LFZXPSE

        (CHENSJ?IJAJGGJR

    5IF OPGPMMPX Q LFZXPSENBZCFVTFEXJUI B Q BOE BSFB Q FMFNFOUT

    5IF OPGPMMPX Q LFZXPSEJOEJDBUFTUIBUUIFMJOLJTOPUFOEPSTFECZUIFPSJHJOBMBVUIPSPSQVCMJTIFSPGUIFQBHF PS


    UIBUUIFMJOLUPUIFSFGFSFODFEEPDVNFOUXBTJODMVEFEQSJNBSJMZCFDBVTFPGBDPNNFSDJBMSFMBUJPOTIJQCFUXFFOQFPQMF
    BКMJBUFEXJUIUIFUXPQBHFT

        (CHENSJ?IJM@A@MM@M

    5IF OPSFGFSSFS Q LFZXPSENBZCFVTFEXJUI B Q BOE BSFB Q FMFNFOUT

    *UJOEJDBUFTUIBUOPSFGFSSFSJOGPSNBUJPOJTUPCFMFBLFEXIFOGPMMPXJOHUIFMJOL

    *GBVTFSBHFOUGPMMPXTBMJOLEFИOFECZBO B Q PS BSFB Q FMFNFOUUIBUIBTUIF OPSFGFSSFS Q LFZXPSE UIFVTFS


    BHFOUNVTUOPUJODMVEFB 3FGFSFS TJD
    )551IFBEFS PSFRVJWBMFOU Q GPSPUIFSQSPUPDPMT
    JOUIFSFRVFTU

    5IJTLFZXPSEBMTP DBVTFTUIF PQFOFS BUUSJCVUFUPSFNBJOOVMM Q JGUIFIZQFSMJOLDSFBUFTBOFX CSPXTJOHDPOUFYU Q 

        (CHENSJ?KDIB=<>F

    5IF QJOHCBDL Q LFZXPSENBZCFVTFEXJUI MJOL Q FMFNFOUT GPSXIJDIJUDSFBUFTBO FYUFSOBMSFTPVSDFMJOL Q 

    'PSUIFTFNBOUJDTPGUIF QJOHCBDL Q LFZXPSE TFFUIF1JOHCBDLTQFDJИDBUJPO <1*/(#"$,> Q

    
        (CHENSJ?KM@A@O>C

    5IF QSFGFUDI Q LFZXPSENBZCFVTFEXJUI MJOL Q FMFNFOUT GPSXIJDIJUDSFBUFTBO FYUFSOBMSFTPVSDFMJOL Q 

    5IF QSFGFUDI Q LFZXPSEJOEJDBUFTUIBUQSFFNQUJWFMZGFUDIJOHBOEDBDIJOHUIFTQFDJИFESFTPVSDFJTMJLFMZUPCF


    CFOFИDJBM BTJUJTIJHIMZMJLFMZUIBUUIFVTFSXJMMSFRVJSFUIJTSFTPVSDF

    5IFSFJTOPEFGBVMUUZQFGPSSFTPVSDFTHJWFOCZUIF QSFGFUDI Q LFZXPSE

        (CHENSJ?N@<M>C

    5IF TFBSDI Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    5IF TFBSDI Q LFZXPSEJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOUQSPWJEFTBOJOUFSGBDFTQFDJИDBMMZGPSTFBSDIJOHUIF


    EPDVNFOUBOEJUTSFMBUFESFTPVSDFT

    *HM> +I>G/>:K<A=>L<KBIMBHG=H<NF>GML<:G;>NL>=PBMA EBGD I >E>F>GML:G=MA> L>:K<A I


    EBGDMRI>MH>G:;E>NL>K:@>GMLMH:NMH=BL<HO>KL>:K<ABGM>K?:<>L 7+,!*/!.$8 I

        (CHENSJ?NOTG@NC@@O

    5IF TUZMFTIFFU Q LFZXPSENBZCFVTFEXJUI MJOL Q FMFNFOUT GPSXIJDIJUDSFBUFTBO FYUFSOBMSFTPVSDFMJOL Q
    UIBUDPOUSJCVUFTUPUIF TUZMJOHQSPDFTTJOHNPEFM Q 

    5IFTQFDJИFESFTPVSDFJTBSFTPVSDFUIBUEFTDSJCFTIPXUPQSFTFOUUIFEPDVNFOU&YBDUMZIPXUIFSFTPVSDFJTUPCF
    QSPDFTTFEEFQFOETPOUIFBDUVBMUZQFPGUIFSFTPVSDF

    *GUIF BMUFSOBUF Q LFZXPSEJTBMTPTQFDJИFEPOUIF MJOL Q FMFNFOU UIFO NB?FCHECM;H;FN?LH;NCP?MNSF?MB??N


    JOUIJTDBTF UIF UJUMF Q BUUSJCVUFNVTUCFTQFDJИFEPOUIF MJOL Q FMFNFOU XJUIBOPOFNQUZWBMVF

    5IFEFGBVMUUZQFGPSSFTPVSDFTHJWFOCZUIF TUZMFTIFFU Q LFZXPSEJT UFYUDTT

    -OCLE*GUIFEPDVNFOUIBTCFFOTFUUP RVJSLTNPEF Q BOEUIF $POUFOU5ZQFNFUBEBUB Q PGUIFFYUFSOBMSFTPVSDFJT


    OPUBTVQQPSUFETUZMFTIFFUUZQF UIFVTFSBHFOUNVTUJOTUFBEBTTVNFJUUPCF UFYUDTT

        (CHENSJ?ND?@=<M

    5IF TJEFCBS Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    5IF TJEFCBS Q LFZXPSEJOEJDBUFTUIBUUIFSFGFSFODFEEPDVNFOU JGSFUSJFWFE JTJOUFOEFEUPCFTIPXOJOB TFDPOEBSZ


    CSPXTJOHDPOUFYU Q JGQPTTJCMF
    JOTUFBEPGJOUIFDVSSFOU CSPXTJOHDPOUFYU Q 

    " IZQFSMJOLFMFNFOU Q XJUIUIF TJEFCBS Q LFZXPSETQFDJИFEJTB MC>?<;LBSJ?LFCHE

        (CHENSJ?O<B

    5IF UBH Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    5IF UBH Q LFZXPSEJOEJDBUFTUIBUUIF C06 UIBUUIFSFGFSFODFEEPDVNFOUSFQSFTFOUTBQQMJFTUPUIFDVSSFOUEPDVNFOU

    *HM> /BG<>BMBG=B<:M>LMA:MMA>M:@ :IIEB>LMHMA><NKK>GM=H<NF>GM BMPHNE=;>BG:IIKHIKB:M>MH


    NL>MABLD>RPHK=BGMA>F:KDNIH?: M:@<EHN= I PAB<AEBLMLMA>IHINE:KM:@:<KHLL:L>MH?
    I:@>L

        $C?L;L=BC=;FFCHENSJ?M

    4PNFEPDVNFOUTGPSNQBSUPGBIJFSBSDIJDBMTUSVDUVSFPGEPDVNFOUT

    "IJFSBSDIJDBMTUSVDUVSFPGEPDVNFOUTJTPOFXIFSFFBDIEPDVNFOUDBOIBWFWBSJPVTTVCEPDVNFOUT5IFEPDVNFOUPG
    XIJDIBEPDVNFOUJTBTVCEPDVNFOUJTTBJEUPCFUIFEPDVNFOUT ?0A4=C"EPDVNFOUXJUIOPQBSFOUGPSNTUIFUPQPG
    UIFIJFSBSDIZ

    
    "EPDVNFOUNBZCFQBSUPGNVMUJQMFIJFSBSDIJFT

         (BGDMRI>BG=>Q

    5IF JOEFY Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    5IF JOEFY Q LFZXPSEJOEJDBUFTUIBUUIFEPDVNFOUJTQBSUPGBIJFSBSDIJDBMTUSVDUVSF BOEUIBUUIFMJOLJTMFBEJOHUPUIF


    EPDVNFOUUIBUJTUIFUPQPGUIFIJFSBSDIZ*UDPOWFZTNPSFJOGPSNBUJPOXIFOVTFEXJUIUIF VQ Q LFZXPSE RW
    

    /SHIHSGM'PSIJTUPSJDBMSFBTPOT VTFSBHFOUTNVTUBMTPUSFBUUIFLFZXPSETUPQ DPOUFOUT BOEUPDMJLFUIF


    JOEFY Q LFZXPSE

         (BGDMRI>NI

    5IF VQ Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    5IF VQ Q LFZXPSEJOEJDBUFTUIBUUIFEPDVNFOUJTQBSUPGBIJFSBSDIJDBMTUSVDUVSF BOEUIBUUIFMJOLJTMFBEJOHUPB


    EPDVNFOUUIBUJTBOBODFTUPSPGUIFDVSSFOUEPDVNFOU

    5IF VQ Q LFZXPSENBZCFSFQFBUFEXJUIJOB SFM Q BUUSJCVUFUPJOEJDBUFUIFIJFSBSDIJDBMEJTUBODFGSPNUIFDVSSFOU


    EPDVNFOUUPUIFSFGFSFODFEEPDVNFOU*GJUPDDVSTPOMZPODF UIFOUIFMJOLJTMFBEJOHUPUIFDVSSFOUEPDVNFOUTQBSFOU
    FBDIBEEJUJPOBMPDDVSSFODFPGUIFLFZXPSESFQSFTFOUTPOFGVSUIFSMFWFM*GUIF JOEFY Q LFZXPSEJTBMTPQSFTFOU UIFO
    UIFOVNCFSPG VQ Q LFZXPSETJTUIFEFQUIPGUIFDVSSFOUQBHFSFMBUJWFUPUIFUPQPGUIFIJFSBSDIZ0OMZPOFMJOLJT
    DSFBUFEGPSUIFTFUPGPOFPSNPSF VQ Q LFZXPSETBOE JGQSFTFOU UIF JOEFY Q LFZXPSE

    *GUIFQBHFJTQBSUPGNVMUJQMFIJFSBSDIJFT UIFOUIFZTIPVMECFEFTDSJCFEJOEJЗFSFOU QBSBHSBQIT Q  6TFSBHFOUTNVTU


    TDPQFBOZJOUFSQSFUBUJPOPGUIF VQ Q BOE JOEFY Q LFZXPSETUPHFUIFSJOEJDBUJOHUIFEFQUIPGUIFIJFSBSDIZUPUIF
    QBSBHSBQI Q JOXIJDIUIFMJOLИOETJUTFMG JGBOZ PSUPUIFEPDVNFOUPUIFSXJTF

    8IFOUXPMJOLTIBWFCPUIUIF VQ Q BOE JOEFY Q LFZXPSETTQFDJИFEUPHFUIFSJOUIFTBNFTDPQFBOEDPOUSBEJDUFBDI


    PUIFSCZIBWJOHBEJЗFSFOUOVNCFSPG VQ Q LFZXPSET UIFMJOLXJUIUIFHSFBUFSOVNCFSPG VQ Q LFZXPSETNVTUCF
    UBLFOBTHJWJOHUIFEFQUIPGUIFEPDVNFOU

    5IJTDBOCFVTFEUPNBSLVQBOBWJHBUJPOTUZMFTPNFUJNFTLOPXOBTCSFBEDSVNCT*OUIFGPMMPXJOHFYBNQMF
    UIFDVSSFOUQBHFDBOCFSFBDIFEWJBUXPQBUIT

    OBW
    Q
    BISFGSFMJOEFYVQVQVQ.BJOB
    BISFGQSPEVDUTSFMVQVQ1SPEVDUTB
    BISFGQSPEVDUTEJTIXBTIFSTSFMVQ%JTIXBTIFSTB
    B4FDPOEIBOEB
    Q
    Q
    BISFGSFMJOEFYVQVQ.BJOB
    BISFGTFDPOEIBOESFMVQ4FDPOEIBOEB
    B%JTIXBTIFSTB
    Q
    OBW

    *HM> 0A> K>E*BLM I % (:MMKB;NM>> @ HGMA> : I >E>F>GM=H>LGHM<NKK>GMERK>IK>L>GMFNEMBIE>


    NI I D>RPHK=LMA>BGM>K?:<>AB=>L=NIEB<:M>L

        /?KO?HNC;FFCHENSJ?M

    4PNFEPDVNFOUTGPSNQBSUPGBTFRVFODFPGEPDVNFOUT

    "TFRVFODFPGEPDVNFOUTJTPOFXIFSFFBDIEPDVNFOUDBOIBWFB ?A4E8>DBB81;8=6 BOEB =4GCB81;8=6"EPDVNFOU


    XJUIOPQSFWJPVTTJCMJOHJTUIFTUBSUPGJUTTFRVFODF BEPDVNFOUXJUIOPOFYUTJCMJOHJTUIFFOEPGJUTTFRVFODF

    "EPDVNFOUNBZCFQBSUPGNVMUJQMFTFRVFODFT

    
         (BGDMRI>?BKLM

    5IF GJSTU Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    5IF GJSTU Q LFZXPSEJOEJDBUFTUIBUUIFEPDVNFOUJTQBSUPGBTFRVFODF BOEUIBUUIFMJOLJTMFBEJOHUPUIFEPDVNFOU


    UIBUJTUIFИSTUMPHJDBMEPDVNFOUJOUIFTFRVFODF

    /SHIHSGM'PSIJTUPSJDBMSFBTPOT VTFSBHFOUTNVTUBMTPUSFBUUIFLFZXPSETCFHJOBOETUBSUMJLFUIF GJSTU Q


    LFZXPSE

         (BGDMRI>E:LM

    5IF MBTU Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    5IF MBTU Q LFZXPSEJOEJDBUFTUIBUUIFEPDVNFOUJTQBSUPGBTFRVFODF BOEUIBUUIFMJOLJTMFBEJOHUPUIFEPDVNFOU


    UIBUJTUIFMBTUMPHJDBMEPDVNFOUJOUIFTFRVFODF

    /SHIHSGM'PSIJTUPSJDBMSFBTPOT VTFSBHFOUTNVTUBMTPUSFBUUIFLFZXPSEFOEMJLFUIF MBTU Q LFZXPSE

         (BGDMRI>G>QM

    5IF OFYU Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    5IF OFYU Q LFZXPSEJOEJDBUFTUIBUUIFEPDVNFOUJTQBSUPGBTFRVFODF BOEUIBUUIFMJOLJTMFBEJOHUPUIFEPDVNFOU


    UIBUJTUIFOFYUMPHJDBMEPDVNFOUJOUIFTFRVFODF

         (BGDMRI>IK>O

    5IF QSFW Q LFZXPSENBZCFVTFEXJUI MJOL Q B Q BOE BSFB Q FMFNFOUT'PS MJOL Q FMFNFOUT JUDSFBUFTB
    IZQFSMJOL Q 

    5IF QSFW Q LFZXPSEJOEJDBUFTUIBUUIFEPDVNFOUJTQBSUPGBTFRVFODF BOEUIBUUIFMJOLJTMFBEJOHUPUIFEPDVNFOU


    UIBUJTUIFQSFWJPVTMPHJDBMEPDVNFOUJOUIFTFRVFODF

    /SHIHSGM'PSIJTUPSJDBMSFBTPOT VTFSBHFOUTNVTUBMTPUSFBUUIFLFZXPSEQSFWJPVTMJLFUIF QSFW Q LFZXPSE

        +NB?LFCHENSJ?M

    !RN?HMCIHMNINB?JL?>?]H?>M?NI@FCHENSJ?M NBZCFSFHJTUFSFEJOUIF 8)"58(8JLJ3FM&YUFOTJPOTQBHF


    <8)"58(8*,*> Q

    "OZPOFJTGSFFUPFEJUUIF8)"58(8JLJ3FM&YUFOTJPOTQBHFBUBOZUJNFUPBEEBUZQF&YUFOTJPOUZQFTNVTUCF
    TQFDJИFEXJUIUIFGPMMPXJOHJOGPSNBUJPO

    '?SQIL>
    5IFBDUVBMWBMVFCFJOHEFИOFE5IFWBMVFTIPVMEOPUCFDPOGVTJOHMZTJNJMBSUPBOZPUIFSEFИOFEWBMVF FH
    EJЗFSJOHPOMZJODBTF
    

    *GUIFWBMVFDPOUBJOTB6 "$0-0/DIBSBDUFS 
    JUNVTUBMTPCFBO BCTPMVUF63- Q 

    !\?=NIH GDIF K


    0OFPGUIFGPMMPXJOH

    HIN;FFIQ?>
    5IFLFZXPSEJTOPUBMMPXFEUPCFTQFDJИFEPO MJOL Q FMFNFOUT
    $SJ?LFCHE
    5IFLFZXPSENBZCFTQFDJИFEPOB MJOL Q FMFNFOUJUDSFBUFTB IZQFSMJOLMJOL Q 
    !RN?LH;F.?MIOL=?
    5IFLFZXPSENBZCFTQFDJИFEPOB MJOL Q FMFNFOUJUDSFBUFTB FYUFSOBMSFTPVSDFMJOL Q 

    !\?=NIH < K ;H> <M@< K


    0OFPGUIFGPMMPXJOH

    
    HIN;FFIQ?>
    5IFLFZXPSEJTOPUBMMPXFEUPCFTQFDJИFEPO B Q BOE BSFB Q FMFNFOUT
    $SJ?LFCHE
    5IFLFZXPSENBZCFTQFDJИFEPO B Q BOE BSFB Q FMFNFOUT

    LC?@>?M=LCJNCIH
    "TIPSUOPOOPSNBUJWFEFTDSJQUJPOPGXIBUUIFLFZXPSETNFBOJOHJT

    /J?=C]=;NCIH
    "MJOLUPBNPSFEFUBJMFEEFTDSJQUJPOPGUIFLFZXPSETTFNBOUJDTBOESFRVJSFNFOUT*UDPVMECFBOPUIFSQBHFPO
    UIF8JLJ PSBMJOLUPBOFYUFSOBMQBHF

    /SHIHSGM
    "MJTUPGPUIFSLFZXPSEWBMVFTUIBUIBWFFYBDUMZUIFTBNFQSPDFTTJOHSFRVJSFNFOUT"VUIPSTTIPVMEOPUVTFUIF
    WBMVFTEFИOFEUPCFTZOPOZNT UIFZBSFPOMZJOUFOEFEUPBMMPXVTFSBHFOUTUPTVQQPSUMFHBDZDPOUFOU"OZPOF
    NBZSFNPWFTZOPOZNTUIBUBSFOPUVTFEJOQSBDUJDFPOMZOBNFTUIBUOFFEUPCFQSPDFTTFEBTTZOPOZNTGPS
    DPNQBUJCJMJUZXJUIMFHBDZDPOUFOUBSFUPCFSFHJTUFSFEJOUIJTXBZ

    /N;NOM
    0OFPGUIFGPMMPXJOH

    ,LIJIM?>
    5IFLFZXPSEIBTOPUSFDFJWFEXJEFQFFSSFWJFXBOEBQQSPWBM4PNFPOFIBTQSPQPTFEJUBOEJT PSTPPOXJMM
    CF VTJOHJU
    .;NC]?>
    5IFLFZXPSEIBTSFDFJWFEXJEFQFFSSFWJFXBOEBQQSPWBM*UIBTBTQFDJИDBUJPOUIBUVOBNCJHVPVTMZEFИOFT
    IPXUPIBOEMFQBHFTUIBUVTFUIFLFZXPSE JODMVEJOHXIFOUIFZVTFJUJOJODPSSFDUXBZT
    CM=IHNCHO?>
    5IFLFZXPSEIBTSFDFJWFEXJEFQFFSSFWJFXBOEJUIBTCFFOGPVOEXBOUJOH&YJTUJOHQBHFTBSFVTJOHUIJT
    LFZXPSE CVUOFXQBHFTTIPVMEBWPJEJU5IFCSJFGEFTDSJQUJPOBOETQFDJИDBUJPOFOUSJFTXJMMHJWFEFUBJMT
    PGXIBUBVUIPSTTIPVMEVTFJOTUFBE JGBOZUIJOH

    *GBLFZXPSEJTGPVOEUPCFSFEVOEBOUXJUIFYJTUJOHWBMVFT JUTIPVMECFSFNPWFEBOEMJTUFEBTBTZOPOZNGPSUIF
    FYJTUJOHWBMVF

    *GBLFZXPSEJTSFHJTUFSFEJOUIFQSPQPTFETUBUFGPSBQFSJPEPGBNPOUIPSNPSFXJUIPVUCFJOHVTFEPSTQFDJИFE
    UIFOJUNBZCFSFNPWFEGSPNUIFSFHJTUSZ

    *GBLFZXPSEJTBEEFEXJUIUIFQSPQPTFETUBUVTBOEGPVOEUPCFSFEVOEBOUXJUIFYJTUJOHWBMVFT JUTIPVMECF
    SFNPWFEBOEMJTUFEBTBTZOPOZNGPSUIFFYJTUJOHWBMVF*GBLFZXPSEJTBEEFEXJUIUIFQSPQPTFETUBUVTBOE
    GPVOEUPCFIBSNGVM UIFOJUTIPVMECFDIBOHFEUPEJTDPOUJOVFETUBUVT

    "OZPOFDBODIBOHFUIFTUBUVTBUBOZUJNF CVUTIPVMEPOMZEPTPJOBDDPSEBODFXJUIUIFEFИOJUJPOTBCPWF

    $POGPSNBODFDIFDLFSTNVTUVTFUIFJOGPSNBUJPOHJWFOPOUIF8)"58(8JLJ3FM&YUFOTJPOTQBHFUPFTUBCMJTIJGBWBMVF
    JTBMMPXFEPSOPUWBMVFTEFИOFEJOUIJTTQFDJИDBUJPOPSNBSLFEBTQSPQPTFEPSSBUJИFENVTUCFBDDFQUFEXIFO
    VTFEPOUIFFMFNFOUTGPSXIJDIUIFZBQQMZBTEFTDSJCFEJOUIF&ЗFDUPOИFME XIFSFBTWBMVFTNBSLFEBT
    EJTDPOUJOVFEPSOPUMJTUFEJOFJUIFSUIJTTQFDJИDBUJPOPSPOUIFBGPSFNFOUJPOFEQBHFNVTUCFSFKFDUFEBTJOWBMJE
    $POGPSNBODFDIFDLFSTNBZDBDIFUIJTJOGPSNBUJPO FHGPSQFSGPSNBODFSFBTPOTPSUPBWPJEUIFVTFPGVOSFMJBCMF
    OFUXPSLDPOOFDUJWJUZ
    

    8IFOBOBVUIPSVTFTBOFXUZQFOPUEFИOFECZFJUIFSUIJTTQFDJИDBUJPOPSUIF8JLJQBHF DPOGPSNBODFDIFDLFST
    TIPVMEPЗFSUPBEEUIFWBMVFUPUIF8JLJ XJUIUIFEFUBJMTEFTDSJCFEBCPWF XJUIUIFQSPQPTFETUBUVT

    5ZQFTEFИOFEBTFYUFOTJPOTJOUIF 8)"58(8JLJ3FM&YUFOTJPOTQBHF XJUIUIFTUBUVTQSPQPTFEPSSBUJИFENBZCF


    VTFEXJUIUIF SFM BUUSJCVUFPO MJOL Q B Q BOE BSFB Q FMFNFOUTJOBDDPSEBODFUPUIF&ЗFDUPOИFME
    <8)"58(8*,*> Q

      IGGIHC>CIGMQCNBION>?>C=;N?>?F?G?HNM

       0;A=FIO>M

    5IJTTQFDJИDBUJPOEPFTOPUEFИOFBOZNBSLVQTQFDJИDBMMZGPSNBSLJOHVQMJTUTPGLFZXPSETUIBUBQQMZUPBHSPVQPG
    QBHFT BMTPLOPXOBT C062;>D3B
    *OHFOFSBM BVUIPSTBSFFODPVSBHFEUPFJUIFSNBSLVQTVDIMJTUTVTJOH VM Q
    FMFNFOUTXJUIFYQMJDJUJOMJOFDPVOUTUIBUBSFUIFOIJEEFOBOEUVSOFEJOUPBQSFTFOUBUJPOBMFЗFDUVTJOHBTUZMFTIFFU PS
    UPVTF47(

    
    )FSF UISFFUBHTBSFJODMVEFEJOBTIPSUUBHDMPVE

    TUZMF
    !NFEJBTDSFFO QSJOU IBOEIFME UW\
     TIPVMECFJHOPSFECZOPOWJTVBMCSPXTFST 
    UBHDMPVEMJTQBO\EJTQMBZOPOF^
    UBHDMPVEMJ\EJTQMBZJOMJOF^
    UBHDMPVE\GPOUTJ[FFN^
    UBHDMPVE\GPOUTJ[FFN^
    UBHDMPVE\GPOUTJ[FFN^
    UBHDMPVE\GPOUTJ[FFN^
    UBHDMPVE\GPOUTJ[FFN^
    ^
    TUZMF
    
    VMDMBTTUBHDMPVE
    MJDMBTTUBHDMPVEBUJUMFJOTUBODFTISFGUBQQMFBQQMFB
    TQBO QPQVMBS
    TQBO
    MJDMBTTUBHDMPVEBUJUMFJOTUBODFTISFGULJXJLJXJB
    TQBO SBSF
    TQBO
    MJDMBTTUBHDMPVEBUJUMFJOTUBODFTISFGUQFBSQFBSBTQBO WFSZ
    QPQVMBS
    TQBO
    VM

    5IFBDUVBMGSFRVFODZPGFBDIUBHJTHJWFOVTJOHUIF UJUMF Q BUUSJCVUF"$44TUZMFTIFFUJTQSPWJEFEUPDPOWFSU


    UIFNBSLVQJOUPBDMPVEPGEJЗFSFOUMZTJ[FEXPSET CVUGPSVTFSBHFOUTUIBUEPOPUTVQQPSU$44PSBSFOPUWJTVBM
    UIFNBSLVQDPOUBJOTBOOPUBUJPOTMJLF QPQVMBS
    PS SBSF
    UPDBUFHPSJ[FUIFWBSJPVTUBHTCZGSFRVFODZ UIVT
    FOBCMJOHBMMVTFSTUPCFOFИUGSPNUIFJOGPSNBUJPO

    5IF VM Q FMFNFOUJTVTFE SBUIFSUIBO PM Q


    CFDBVTFUIFPSEFSJTOPUQBSUJDVMBSMZJNQPSUBOUXIJMFUIFMJTUJTJO
    GBDUPSEFSFEBMQIBCFUJDBMMZ JUXPVMEDPOWFZUIFTBNFJOGPSNBUJPOJGPSEFSFECZ TBZ UIFMFOHUIPGUIFUBH

    5IF UBH Q SFM Q LFZXPSEJT =>C VTFEPOUIFTF B Q FMFNFOUTCFDBVTFUIFZEPOPUSFQSFTFOUUBHTUIBUBQQMZ
    UPUIFQBHFJUTFMGUIFZBSFKVTUQBSUPGBOJOEFYMJTUJOHUIFUBHTUIFNTFMWFT

       IHP?LM;NCIHM

    5IJTTQFDJИDBUJPOEPFTOPUEFИOFBTQFDJИDFMFNFOUGPSNBSLJOHVQDPOWFSTBUJPOT NFFUJOHNJOVUFT DIBUUSBOTDSJQUT


    EJBMPHVFTJOTDSFFOQMBZT JOTUBOUNFTTBHFMPHT BOEPUIFSTJUVBUJPOTXIFSFEJЗFSFOUQMBZFSTUBLFUVSOTJOEJTDPVSTF

    *OTUFBE BVUIPSTBSFFODPVSBHFEUPNBSLVQDPOWFSTBUJPOTVTJOH Q Q FMFNFOUTBOEQVODUVBUJPO"VUIPSTXIPOFFEUP


    NBSLUIFTQFBLFSGPSTUZMJOHQVSQPTFTBSFFODPVSBHFEUPVTF TQBO Q PS C Q 1BSBHSBQITXJUIUIFJSUFYUXSBQQFEJO
    UIF J Q FMFNFOUDBOCFVTFEGPSNBSLJOHVQTUBHFEJSFDUJPOT

    5IJTFYBNQMFEFNPOTUSBUFTUIJTVTJOHBOFYUSBDUGSPN"CCPUBOE$PTUFMMPTGBNPVTTLFUDI -7>B>=PABC

    Q$PTUFMMP-PPL ZPVHPUUBGJSTUCBTFNBO
    Q"CCPUU$FSUBJOMZ
    Q$PTUFMMP8IPTQMBZJOHGJSTU
    Q"CCPUU5IBUTSJHIU
    Q$PTUFMMPCFDPNFTFYBTQFSBUFE
    Q$PTUFMMP8IFOZPVQBZPGGUIFGJSTUCBTFNBOFWFSZNPOUI XIPHFUTUIFNPOFZ
    Q"CCPUU&WFSZEPMMBSPGJU

    5IFGPMMPXJOHFYUSBDUTIPXTIPXBO*.DPOWFSTBUJPOMPHDPVMECFNBSLFEVQ

    QUJNFUJNFCFHPGC*NOPUUIBUOFSEZ *WFPOMZTFFOPGUIFTUBS
    USFLFQJTPEFT
    QUJNFUJNFCLBKCJGZPVLOPXXIBUQFSDFOUBHFPGUIFTUBSUSFLFQJTPEFT
    ZPVIBWFTFFO ZPVBSFJOBSHVBCMZOFSEZ
    QUJNFUJNFCFHPGCJUTVOBSHVBCMZ
    QUJNFUJNFJ LBKCMJOLTJ
    QUJNFUJNFCLBKCZPVBSFOPUIFMQJOHZPVSDBTF

    
       "IINHIN?M

    )5.-EPFTOPUIBWFBEFEJDBUFENFDIBOJTNGPSNBSLJOHVQGPPUOPUFT)FSFBSFUIFSFDPNNFOEFEBMUFSOBUJWFT

    'PSTIPSUJOMJOFBOOPUBUJPOT UIF UJUMF Q BUUSJCVUFTIPVMECFVTFE

    *OUIJTFYBNQMF UXPQBSUTPGBEJBMPHVFBSFBOOPUBUFEXJUIGPPUOPUFMJLFDPOUFOUVTJOHUIF UJUMF Q BUUSJCVUF

    QC$VTUPNFSC)FMMP*XJTIUPSFHJTUFSBDPNQMBJOU)FMMP.JTT
    QC4IPQLFFQFSC NK<IODOG@!JGGJLPD<GKMJIPI>D<ODJIJA5C<O?JTJP
    8BUDIBTQBONFBO NJTT
    QC$VTUPNFSC6I *NTPSSZ *IBWFBDPME*XJTIUPNBLFBDPNQMBJOU
    QC4IPQLFFQFSC4PSSZ TQBO ODOG@2CDNDN JA>JPMN@ <GD@ XFSF
    DMPTJOHGPSMVODITQBO

    'PSMPOHFSBOOPUBUJPOT UIF B Q FMFNFOUTIPVMECFVTFE QPJOUJOHUPBOFMFNFOUMBUFSJOUIFEPDVNFOU5IF


    DPOWFOUJPOJTUIBUUIFDPOUFOUTPGUIFMJOLCFBOVNCFSJOTRVBSFCSBDLFUT

    *OUIJTFYBNQMF BGPPUOPUFJOUIFEJBMPHVFMJOLTUPBQBSBHSBQICFMPXUIFEJBMPHVF5IFQBSBHSBQIUIFO
    SFDJQSPDBMMZMJOLTCBDLUPUIFEJBMPHVF BMMPXJOHUIFVTFSUPSFUVSOUPUIFMPDBUJPOPGUIFGPPUOPUF

    Q"OOPVODFS/VNCFS5IFJIBOEJ
    Q*OUFSWJFXFS(PPEFWFOJOH*IBWFXJUINFJOUIFTUVEJPUPOJHIU
    .S/PSNBO4U+PIO1PMFWBVMUFS XIPGPSUIFQBTUGFXZFBSTIBTCFFO
    DPOUSBEJDUJOHQFPQMF.S1PMFWBVMUFS XIZFNEPFNZPV
    DPOUSBEJDUQFPQMF
    Q/PSNBO*EPOUTVQBISFGGOJES<>BTVQ
    Q*OUFSWJFXFS:PVUPMENFZPVEJE

    TFDUJPO
    QJEGOBISFGS<>B5IJTJT OBUVSBMMZ BMJF
    CVUQBSBEPYJDBMMZJGJUXFSFUSVFIFDPVMEOPUTBZTPXJUIPVU
    DPOUSBEJDUJOHUIFJOUFSWJFXFSBOEUIVTNBLJOHJUGBMTFQ
    TFDUJPO

    'PSTJEFOPUFT MPOHFSBOOPUBUJPOTUIBUBQQMZUPFOUJSFTFDUJPOTPGUIFUFYUSBUIFSUIBOKVTUTQFDJИDXPSETPSTFOUFODFT
    UIF BTJEF Q FMFNFOUTIPVMECFVTFE

    *OUIJTFYBNQMF BTJEFCBSJTHJWFOBGUFSBEJBMPHVF HJWJOHJUTPNFDPOUFYU

    QTQBODMBTTTQFBLFS$VTUPNFSTQBO*XJMMOPUCVZUIJTSFDPSE JUJTTDSBUDIFE
    QTQBODMBTTTQFBLFS4IPQLFFQFSTQBO*NTPSSZ
    QTQBODMBTTTQFBLFS$VTUPNFSTQBO*XJMMOPUCVZUIJTSFDPSE JUJTTDSBUDIFE
    QTQBODMBTTTQFBLFS4IPQLFFQFSTQBO/POPOP UIJTTBUPCBDDPOJTUT
    BTJEF
    Q*O UIF#SJUJTI&NQJSFMBZJOSVJOT BOEGPSFJHO
    OBUJPOBMJTUTGSFRVFOUFEUIFTUSFFUTzNBOZPGUIFN)VOHBSJBOT
    OPUUIFTUSFFUTzUIFGPSFJHOOBUJPOBMT
    4BEMZ "MFYBOEFS
    :BMUIBTCFFOQVCMJTIJOHJODPNQFUFOUMZXSJUUFOQISBTFCPPLT
    BTJEF

    'PSИHVSFTPSUBCMFT GPPUOPUFTDBOCFJODMVEFEJOUIFSFMFWBOU GJHDBQUJPO Q PS DBQUJPO Q FMFNFOU PSJO


    TVSSPVOEJOHQSPTF

    *OUIJTFYBNQMF BUBCMFIBTDFMMTXJUIGPPUOPUFTUIBUBSFHJWFOJOQSPTF" GJHVSF Q FMFNFOUJTVTFEUPHJWFB


    TJOHMFMFHFOEUPUIFDPNCJOBUJPOPGUIFUBCMFBOEJUTGPPUOPUFT

    GJHVSF
    GJHDBQUJPO5BCMF"MUFSOBUJWFBDUJWJUJFTGPSLOJHIUTGJHDBQUJPO
    UBCMF
    US
    UI"DUJWJUZ
    UI-PDBUJPO
    UI$PTU
    US
    UE%BODF

    
    UE8IFSFWFSQPTTJCMF
    UE`TVQBISFGGOBTVQ
    US
    UE3PVUJOFT DIPSVTTDFOFTTVQBISFGGOBTVQ
    UE6OEJTDMPTFE
    UE6OEJTDMPTFE
    US
    UE%JOJOHTVQBISFGGOBTVQ
    UE$BNFMPU
    UE$PTUPGIBN KBN BOETQBNTVQBISFGGOBTVQ
    UBCMF
    QJEGO"TTVNFEQ
    QJEGO'PPUXPSLJNQFDDBCMFQ
    QJEGO2VBMJUZEFTDSJCFEBTXFMMQ
    QJEGO"MPUQ
    GJHVSF

      );N=BCHA$0)(?F?G?HNMOMCHAM?F?=NILM

       ;M? M?HMCNCPCNS

    "UUSJCVUFBOEFMFNFOU =0<4B PG )5.-FMFNFOUT Q JO )5.-EPDVNFOUT Q NVTUCFUSFBUFEBT "4$**DBTFJOTFOTJUJWF Q 

    $MBTTFTGSPNUIF DMBTT Q BUUSJCVUFPG )5.-FMFNFOUT Q JOEPDVNFOUTUIBUBSFJO RVJSLTNPEF Q NVTUCFUSFBUFEBT
    "4$**DBTFJOTFOTJUJWF Q 

    "UUSJCVUFTFMFDUPSTPOBO )5.-FMFNFOU Q JOBO )5.-EPDVNFOU Q NVTUUSFBUUIF E0;D4B PGBUUSJCVUFTXJUIUIF


    GPMMPXJOHOBNFTBT "4$**DBTFJOTFOTJUJWF Q 

    Ǭ BDDFQU
    Ǭ BDDFQUDIBSTFU
    Ǭ BMJHO
    Ǭ BMJOL
    Ǭ BYJT
    Ǭ CHDPMPS
    Ǭ DIBSTFU
    Ǭ DIFDLFE
    Ǭ DMFBS
    Ǭ DPEFUZQF
    Ǭ DPMPS
    Ǭ DPNQBDU
    Ǭ EFDMBSF
    Ǭ EFGFS
    Ǭ EJS
    Ǭ EJSFDUJPO
    Ǭ EJTBCMFE
    Ǭ FODUZQF
    Ǭ GBDF
    Ǭ GSBNF
    Ǭ ISFGMBOH
    Ǭ IUUQFRVJW
    Ǭ MBOH
    Ǭ MBOHVBHF
    Ǭ MJOL
    Ǭ NFEJB
    Ǭ NFUIPE
    Ǭ NVMUJQMF
    Ǭ OPISFG
    Ǭ OPSFTJ[F
    Ǭ OPTIBEF
    Ǭ OPXSBQ
    Ǭ SFBEPOMZ
    Ǭ SFM
    Ǭ SFW
    Ǭ SVMFT
    Ǭ TDPQF
    Ǭ TDSPMMJOH
    Ǭ TFMFDUFE
    Ǭ TIBQF
    Ǭ UBSHFU
    Ǭ UFYU
    Ǭ UZQF
    Ǭ WBMJHO

    
    Ǭ WBMVFUZQF
    Ǭ WMJOL

    "MMPUIFSBUUSJCVUFWBMVFTPO )5.-FMFNFOUT Q NVTUCFUSFBUFEBT DBTFTFOTJUJWF Q 

       ,M?O>I =F;MM?M

    5IFSFBSFBOVNCFSPGEZOBNJDTFMFDUPSTUIBUDBOCFVTFEXJUI)5.-5IJTTFDUJPOEFИOFTXIFOUIFTFTFMFDUPST
    NBUDI)5.-FMFNFOUT

    EBGD
    OBLBM>=
    "MM B Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF BMM BSFB Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF BOEBMM
    MJOL Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF NVTUNBUDIPOFPG MJOL Q BOE WJTJUFE Q 

    :<MBO>
    5IF BDUJWF Q QTFVEPDMBTTNVTUNBUDIUIFGPMMPXJOHFMFNFOUTCFUXFFOUIFUJNFUIFVTFSCFHJOTUPBDUJWBUF
    UIFFMFNFOUBOEUIFUJNFUIFVTFSTUPQTBDUJWBUJOHUIFFMFNFOU

    Ǭ B Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF

    Ǭ BSFB Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF

    Ǭ MJOL Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF

    Ǭ CVUUPO Q FMFNFOUTUIBUBSFOPU EJTBCMFE Q

    Ǭ JOQVU Q FMFNFOUTXIPTF UZQF Q BUUSJCVUFJTJOUIF 4VCNJU#VUUPO Q *NBHF#VUUPO Q 3FTFU
    #VUUPO Q PS #VUUPO Q TUBUF

    Ǭ DPNNBOE Q FMFNFOUTUIBUEPOPUIBWFB EJTBCMFE Q BUUSJCVUF

    Ǭ BOZPUIFSFMFNFOU JGJUJT TQFDJBMMZGPDVTBCMF Q

    'PSFYBNQMF JGUIFVTFSJTVTJOHBLFZCPBSEUPQVTIB CVUUPO Q FMFNFOUCZQSFTTJOHUIFTQBDFCBS UIF


    FMFNFOUXPVMENBUDIUIJTQTFVEPDMBTTJOCFUXFFOUIFUJNFUIBUUIFFMFNFOUSFDFJWFEUIF LFZEPXO FWFOU
    BOEUIFUJNFUIFFMFNFOUSFDFJWFEUIF LFZVQ FWFOU

    >G:;E>=
    5IF FOBCMFE Q QTFVEPDMBTTNVTUNBUDIUIFGPMMPXJOHFMFNFOUT

    Ǭ B Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF

    Ǭ BSFB Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF

    Ǭ MJOL Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF

    Ǭ CVUUPO Q FMFNFOUTUIBUBSFOPU EJTBCMFE Q

    Ǭ JOQVU Q FMFNFOUTXIPTF UZQF Q BUUSJCVUFBSFOPUJOUIF )JEEFO Q TUBUFBOEUIBUBSFOPU


    EJTBCMFE Q

    Ǭ TFMFDU Q FMFNFOUTUIBUBSFOPU EJTBCMFE Q

    Ǭ UFYUBSFB Q FMFNFOUTUIBUBSFOPU EJTBCMFE Q

    Ǭ PQUJPO Q FMFNFOUTUIBUEPOPUIBWFB EJTBCMFE Q BUUSJCVUF

    Ǭ DPNNBOE Q FMFNFOUTUIBUEPOPUIBWFB EJTBCMFE Q BUUSJCVUF

    Ǭ MJ Q FMFNFOUTUIBUBSFDIJMESFOPG NFOV Q FMFNFOUT BOEUIBUIBWFBDIJMEFMFNFOUUIBUEFИOFTB


    DPNNBOE Q JGUIFИSTUTVDIFMFNFOUT %JTBCMFE4UBUF Q GBDFUJTGBMTF OPUEJTBCMFE

    =BL:;E>=
    5IF EJTBCMFE Q QTFVEPDMBTTNVTUNBUDIUIFGPMMPXJOHFMFNFOUT

    Ǭ CVUUPO Q FMFNFOUTUIBUBSF EJTBCMFE Q

    Ǭ JOQVU Q FMFNFOUTXIPTF UZQF Q BUUSJCVUFBSFOPUJOUIF )JEEFO Q TUBUFBOEUIBUBSF EJTBCMFE Q

    
    Ǭ TFMFDU Q FMFNFOUTUIBUBSF EJTBCMFE Q

    Ǭ UFYUBSFB Q FMFNFOUTUIBUBSF EJTBCMFE Q

    Ǭ PQUJPO Q FMFNFOUTUIBUIBWFB EJTBCMFE Q BUUSJCVUF

    Ǭ DPNNBOE Q FMFNFOUTUIBUIBWFB EJTBCMFE Q BUUSJCVUF

    Ǭ MJ Q FMFNFOUTUIBUBSFDIJMESFOPG NFOV Q FMFNFOUT BOEUIBUIBWFBDIJMEFMFNFOUUIBUEFИOFTB


    DPNNBOE Q JGUIFИSTUTVDIFMFNFOUT %JTBCMFE4UBUF Q GBDFUJTUSVF EJTBCMFE

    <A><D>=
    5IF DIFDLFE Q QTFVEPDMBTTNVTUNBUDIUIFGPMMPXJOHFMFNFOUT

    Ǭ JOQVU Q FMFNFOUTXIPTF UZQF Q BUUSJCVUFJTJOUIF $IFDLCPY Q TUBUFBOEXIPTF DIFDLFEOFTT Q
    TUBUFJTUSVF

    Ǭ JOQVU Q FMFNFOUTXIPTF UZQF Q BUUSJCVUFJTJOUIF 3BEJP#VUUPO Q TUBUFBOEXIPTF DIFDLFEOFTT Q
    TUBUFJTUSVF

    Ǭ DPNNBOE Q FMFNFOUTXIPTF UZQF Q BUUSJCVUFJTJOUIF $IFDLCPY Q TUBUFBOEUIBUIBWFB DIFDLFE Q
    BUUSJCVUF

    Ǭ DPNNBOE Q FMFNFOUTXIPTF UZQF Q BUUSJCVUFJTJOUIF 3BEJP Q TUBUFBOEUIBUIBWFB DIFDLFE Q
    BUUSJCVUF

    BG=>M>KFBG:M>
    5IF JOEFUFSNJOBUF Q QTFVEPDMBTTNVTUNBUDI JOQVU Q FMFNFOUTXIPTF UZQF Q BUUSJCVUFJTJOUIF
    $IFDLCPY Q TUBUFBOEXIPTF JOEFUFSNJOBUF Q *%-BUUSJCVUFJTTFUUPUSVF

    =>?:NEM
    5IF EFGBVMU Q QTFVEPDMBTTNVTUNBUDIUIFGPMMPXJOHFMFNFOUT

    Ǭ CVUUPO Q FMFNFOUTUIBUBSFUIFJSGPSNT EFGBVMUCVUUPO Q

    Ǭ JOQVU Q FMFNFOUTXIPTF UZQF Q BUUSJCVUFJTJOUIF 4VCNJU#VUUPO Q PS *NBHF#VUUPO Q TUBUF BOE
    UIBUBSFUIFJSGPSNT EFGBVMUCVUUPO Q

    O:EB=
    5IF WBMJE Q QTFVEPDMBTTNVTUNBUDIBMMFMFNFOUTUIBUBSF DBOEJEBUFTGPSDPOTUSBJOUWBMJEBUJPO Q BOEUIBU
    TBUJTGZUIFJSDPOTUSBJOUT Q 

    BGO:EB=
    5IF JOWBMJE Q QTFVEPDMBTTNVTUNBUDIBMMFMFNFOUTUIBUBSF DBOEJEBUFTGPSDPOTUSBJOUWBMJEBUJPO Q CVUUIBU
    EPOPU TBUJTGZUIFJSDPOTUSBJOUT Q 

    BG K:G@>
    5IF JOSBOHF Q QTFVEPDMBTTNVTUNBUDIBMMFMFNFOUTUIBUBSF DBOEJEBUFTGPSDPOTUSBJOUWBMJEBUJPO Q BOE
    UIBUBSFOFJUIFS TVЗFSJOHGSPNBOVOEFSЙPX Q OPS TVЗFSJOHGSPNBOPWFSЙPX Q 

    HNM H? K:G@>
    5IF PVUPGSBOHF Q QTFVEPDMBTTNVTUNBUDIBMMFMFNFOUTUIBUBSF DBOEJEBUFTGPSDPOTUSBJOUWBMJEBUJPO Q
    BOEUIBUBSF TVЗFSJOHGSPNBOVOEFSЙPX Q PS TVЗFSJOHGSPNBOPWFSЙPX Q 

    K>JNBK>=
    5IF SFRVJSFE Q QTFVEPDMBTTNVTUNBUDIUIFGPMMPXJOHFMFNFOUT

    Ǭ JOQVU Q FMFNFOUTUIBUBSF A4@D8A43 ?

    Ǭ UFYUBSFB Q FMFNFOUTUIBUIBWFB SFRVJSFE Q BUUSJCVUF

    HIMBHG:E
    5IF PQUJPOBM Q QTFVEPDMBTTNVTUNBUDIUIFGPMMPXJOHFMFNFOUT

    Ǭ CVUUPO Q FMFNFOUT

    Ǭ JOQVU Q FMFNFOUTUIBUBSFOPU A4@D8A43 ?

    Ǭ TFMFDU Q FMFNFOUT

    
    Ǭ UFYUBSFB Q FMFNFOUTUIBUEPOPUIBWFB SFRVJSFE Q BUUSJCVUF

    K>:= HGER
    K>:= PKBM>
    5IF SFBEXSJUF Q QTFVEPDMBTTNVTUNBUDIUIFGPMMPXJOHFMFNFOUT

    Ǭ JOQVU Q FMFNFOUTUPXIJDIUIF SFBEPOMZ Q BUUSJCVUFBQQMJFT CVUUIBUBSFOPU 8<<DC01;4 ?  JFUIBU


    EPOPUIBWFUIF SFBEPOMZ Q BUUSJCVUFTQFDJИFEBOEUIBUBSFOPU EJTBCMFE Q

    Ǭ UFYUBSFB Q FMFNFOUTUIBUEPOPUIBWFB SFBEPOMZ Q BUUSJCVUF BOEUIBUBSFOPU EJTBCMFE Q

    Ǭ BOZFMFNFOUUIBUJT FEJUBCMF Q

    5IF SFBEPOMZ Q QTFVEPDMBTTNVTUNBUDIBMMPUIFS )5.-FMFNFOUT Q 

    *HM> GHMA>KL><MBHGH?MABLLI><B[<:MBHG=>[G>LMA> M:K@>M>E>F>GM I NL>=PBMAMA> M:K@>M


    IL>N=H
    <E:LL

    *HM> 0ABLLI><B[<:MBHG=H>LGHM=>[G>PA>G:G>E>F>GMF:M<A>LMA> AHO>K ?H<NL HK E:G@


    =RG:FB<IL>N=H
    <E:LL>L :LMAHL>:K>:EE=>[G>=BGLN]<B>GM=>M:BEBG:E:G@N:@>
    :@GHLMB<
    ?:LABHGBGMA>/>E><MHKLLI><B[<:MBHG 7/!(!0+./8 I

    
     )C=LI>;N;

      %HNLI>O=NCIH

       +P?LPC?Q

    *78BB42C8>=8B=>==>A<0C8E4

    4PNFUJNFT JUJTEFTJSBCMFUPBOOPUBUFDPOUFOUXJUITQFDJИDNBDIJOFSFBEBCMFMBCFMT FHUPBMMPXHFOFSJDTDSJQUTUP


    QSPWJEFTFSWJDFTUIBUBSFDVTUPNJTFEUPUIFQBHF PSUPFOBCMFDPOUFOUGSPNBWBSJFUZPGDPPQFSBUJOHBVUIPSTUPCF
    QSPDFTTFECZBTJOHMFTDSJQUJOBDPOTJTUFOUNBOOFS

    'PSUIJTQVSQPTF BVUIPSTDBOVTFUIFNJDSPEBUBGFBUVSFTEFTDSJCFEJOUIJTTFDUJPO.JDSPEBUBBMMPXTOFTUFEHSPVQTPG
    OBNFWBMVFQBJSTUPCFBEEFEUPEPDVNFOUT JOQBSBMMFMXJUIUIFFYJTUJOHDPOUFOU

       0B?<;MC=MSHN;R

    *78BB42C8>=8B=>==>A<0C8E4

    "UBIJHIMFWFM NJDSPEBUBDPOTJTUTPGBHSPVQPGOBNFWBMVFQBJST5IFHSPVQTBSFDBMMFE JUFNT Q BOEFBDIOBNF


    WBMVFQBJSJTBQSPQFSUZ*UFNTBOEQSPQFSUJFTBSFSFQSFTFOUFECZSFHVMBSFMFNFOUT

    5PDSFBUFBOJUFN UIF JUFNTDPQF Q BUUSJCVUFJTVTFE

    5PBEEBQSPQFSUZUPBOJUFN UIF JUFNQSPQ Q BUUSJCVUFJTVTFEPOPOFPGUIF JUFNT Q EFTDFOEBOUT

    )FSFUIFSFBSFUXPJUFNT FBDIPGXIJDIIBTUIFQSPQFSUZOBNF

    EJWJUFNTDPQF
    Q.ZOBNFJTTQBOJUFNQSPQOBNF&MJ[BCFUITQBOQ
    EJW

    EJWJUFNTDPQF
    Q.ZOBNFJTTQBOJUFNQSPQOBNF%BOJFMTQBOQ
    EJW

    1SPQFSUJFTHFOFSBMMZIBWFWBMVFTUIBUBSFTUSJOHT

    )FSFUIFJUFNIBTUISFFQSPQFSUJFT

    EJWJUFNTDPQF
    Q.ZOBNFJTTQBOJUFNQSPQOBNF/FJMTQBOQ
    Q.ZCBOEJTDBMMFETQBOJUFNQSPQCBOE'PVS1BSUT8BUFSTQBOQ
    Q*BNTQBOJUFNQSPQOBUJPOBMJUZ#SJUJTITQBOQ
    EJW

    1SPQFSUJFTDBOBMTPIBWFWBMVFTUIBUBSF 63-T Q 5IJTJTBDIJFWFEVTJOHUIF B Q FMFNFOUBOEJUT ISFG Q BUUSJCVUF UIF
    JNH Q FMFNFOUBOEJUT TSD Q BUUSJCVUF PSPUIFSFMFNFOUTUIBUMJOLUPPSFNCFEFYUFSOBMSFTPVSDFT

    *OUIJTFYBNQMF UIFJUFNIBTPOFQSPQFSUZ JNBHF XIPTFWBMVFJTB63-

    EJWJUFNTDPQF
    JNHJUFNQSPQJNBHFTSDHPPHMFMPHPQOHBMU(PPHMF
    EJW

    1SPQFSUJFTDBOBMTPIBWFWBMVFTUIBUBSFEBUFT UJNFT PSEBUFTBOEUJNFT5IJTJTBDIJFWFEVTJOHUIF UJNF Q FMFNFOU


    BOEJUT EBUFUJNF Q BUUSJCVUF

    *OUIJTFYBNQMF UIFJUFNIBTPOFQSPQFSUZ CJSUIEBZ XIPTFWBMVFJTBEBUF

    EJWJUFNTDPQF
    *XBTCPSOPOUJNFJUFNQSPQCJSUIEBZEBUFUJNF.BZUIUJNF
    EJW

    1SPQFSUJFTDBOBMTPUIFNTFMWFTCFHSPVQTPGOBNFWBMVFQBJST CZQVUUJOHUIF JUFNTDPQF Q BUUSJCVUFPOUIFFMFNFOU


    UIBUEFDMBSFTUIFQSPQFSUZ

    *UFNTUIBUBSFOPUQBSUPGPUIFSTBSFDBMMFE UPQMFWFMNJDSPEBUBJUFNT Q 

    
    *OUIJTFYBNQMF UIFPVUFSJUFNSFQSFTFOUTBQFSTPO BOEUIFJOOFSPOFSFQSFTFOUTBCBOE

    EJWJUFNTDPQF
    Q/BNFTQBOJUFNQSPQOBNF"NBOEBTQBOQ
    Q#BOETQBOJUFNQSPQCBOEJUFNTDPQFTQBOJUFNQSPQOBNF+B[[#BOETQBO TQBO
    JUFNQSPQTJ[FTQBOQMBZFST
    TQBOQ
    EJW

    5IFPVUFSJUFNIFSFIBTUXPQSPQFSUJFT OBNFBOECBOE5IFOBNFJT"NBOEB BOEUIFCBOEJTBOJUFN


    JOJUTPXOSJHIU XJUIUXPQSPQFSUJFT OBNFBOETJ[F5IFOBNFPGUIFCBOEJT+B[[#BOE BOEUIFTJ[FJT
    

    5IFPVUFSJUFNJOUIJTFYBNQMFJTBUPQMFWFMNJDSPEBUBJUFN

    1SPQFSUJFTUIBUBSFOPUEFTDFOEBOUTPGUIFFMFNFOUXJUIUIF JUFNTDPQF Q BUUSJCVUFDBOCFBTTPDJBUFEXJUIUIF


    JUFN Q VTJOHUIF JUFNSFG Q BUUSJCVUF5IJTBUUSJCVUFUBLFTBMJTUPG*%TPGFMFNFOUTUPDSBXMJOBEEJUJPOUPDSBXMJOH
    UIFDIJMESFOPGUIFFMFNFOUXJUIUIF JUFNTDPQF Q BUUSJCVUF

    5IJTFYBNQMFJTUIFTBNFBTUIFQSFWJPVTPOF CVUBMMUIFQSPQFSUJFTBSFTFQBSBUFEGSPNUIFJS JUFNT Q 

    EJWJUFNTDPQFJEBNBOEBJUFNSFGBCEJW
    QJEB/BNFTQBOJUFNQSPQOBNF"NBOEBTQBOQ
    EJWJECJUFNQSPQCBOEJUFNTDPQFJUFNSFGDEJW
    EJWJED
    Q#BOETQBOJUFNQSPQOBNF+B[[#BOETQBOQ
    Q4J[FTQBOJUFNQSPQTJ[FTQBOQMBZFSTQ
    EJW

    5IJTHJWFTUIFTBNFSFTVMUBTUIFQSFWJPVTFYBNQMF5IFИSTUJUFNIBTUXPQSPQFSUJFT OBNF TFUUP"NBOEB


    BOECBOE TFUUPBOPUIFSJUFN5IBUTFDPOEJUFNIBTUXPGVSUIFSQSPQFSUJFT OBNF TFUUP+B[[#BOE BOE
    TJ[F TFUUP

    "O JUFN Q DBOIBWFNVMUJQMFQSPQFSUJFTXJUIUIFTBNFOBNFBOEEJЗFSFOUWBMVFT

    5IJTFYBNQMFEFTDSJCFTBOJDFDSFBN XJUIUXPЙBWPST

    EJWJUFNTDPQF
    Q'MBWPSTJONZGBWPSJUFJDFDSFBNQ
    VM
    MJJUFNQSPQGMBWPS-FNPOTPSCFUMJ
    MJJUFNQSPQGMBWPS"QSJDPUTPSCFUMJ
    VM
    EJW

    5IJTUIVTSFTVMUTJOBOJUFNXJUIUXPQSPQFSUJFT CPUIЙBWPS IBWJOHUIFWBMVFT-FNPOTPSCFUBOE"QSJDPU


    TPSCFU

    "OFMFNFOUJOUSPEVDJOHBQSPQFSUZDBOBMTPJOUSPEVDFNVMUJQMFQSPQFSUJFTBUPODF UPBWPJEEVQMJDBUJPOXIFOTPNFPG
    UIFQSPQFSUJFTIBWFUIFTBNFWBMVF

    )FSFXFTFFBOJUFNXJUIUXPQSPQFSUJFT GBWPSJUFDPMPSBOEGBWPSJUFGSVJU CPUITFUUPUIFWBMVFPSBOHF

    EJWJUFNTDPQF
    TQBOJUFNQSPQGBWPSJUFDPMPSGBWPSJUFGSVJUPSBOHFTQBO
    EJW

    *UTJNQPSUBOUUPOPUFUIBUUIFSFJTOPSFMBUJPOTIJQCFUXFFOUIFNJDSPEBUBBOEUIFDPOUFOUPGUIFEPDVNFOUXIFSFUIF
    NJDSPEBUBJTNBSLFEVQ

    5IFSFJTOPTFNBOUJDEJЗFSFODF GPSJOTUBODF CFUXFFOUIFGPMMPXJOHUXPFYBNQMFT

    GJHVSF
    JNHTSDDBTUMFKQFH
    GJHDBQUJPOTQBOJUFNTDPQFTQBOJUFNQSPQOBNF5IF$BTUMFTQBOTQBO
    
    GJHDBQUJPO
    GJHVSF
    TQBOJUFNTDPQFNFUBJUFNQSPQOBNFDPOUFOU5IF$BTUMFTQBO
    GJHVSF
    JNHTSDDBTUMFKQFH

    
    GJHDBQUJPO5IF$BTUMF 
    GJHDBQUJPO
    GJHVSF

    #PUIIBWFBИHVSFXJUIBDBQUJPO BOECPUI DPNQMFUFMZVOSFMBUFEUPUIFИHVSF IBWFBOJUFNXJUIBOBNFWBMVF


    QBJSXJUIUIFOBNFOBNFBOEUIFWBMVF5IF$BTUMF5IFPOMZEJЗFSFODFJTUIBUJGUIFVTFSESBHTUIFDBQUJPO
    PVUPGUIFEPDVNFOU JOUIFGPSNFSDBTF UIFJUFNXJMMCFJODMVEFEJOUIFESBHBOEESPQEBUB*OOFJUIFSDBTFJT
    UIFJNBHFJOBOZXBZBTTPDJBUFEXJUIUIFJUFN

       0SJ?>CN?GM

    *78BB42C8>=8B=>==>A<0C8E4

    5IFFYBNQMFTJOUIFQSFWJPVTTFDUJPOTIPXIPXJOGPSNBUJPODPVMECFNBSLFEVQPOBQBHFUIBUEPFTOUFYQFDUJUT
    NJDSPEBUBUPCFSFVTFE.JDSPEBUBJTNPTUVTFGVM UIPVHI XIFOJUJTVTFEJODPOUFYUTXIFSFPUIFSBVUIPSTBOESFBEFST
    BSFBCMFUPDPPQFSBUFUPNBLFOFXVTFTPGUIFNBSLVQ

    'PSUIJTQVSQPTF JUJTOFDFTTBSZUPHJWFFBDI JUFN Q BUZQF TVDIBTIUUQFYBNQMFDPNQFSTPO PS


    IUUQFYBNQMFPSHDBU PSIUUQCBOEFYBNQMFOFU5ZQFTBSFJEFOUJИFEBT 63-T Q 

    5IFUZQFGPSBO JUFN Q JTHJWFOBTUIFWBMVFPGBO JUFNUZQF Q BUUSJCVUFPOUIFTBNFFMFNFOUBTUIF JUFNTDPQF Q


    BUUSJCVUF

    )FSF UIFJUFNJTIUUQFYBNQMFPSHBOJNBMTDBU

    TFDUJPOJUFNTDPQFJUFNUZQFIUUQFYBNQMFPSHBOJNBMTDBU
    IJUFNQSPQOBNF)FESBMI
    QJUFNQSPQEFTD)FESBMJTBNBMFBNFSJDBOEPNFTUJD
    TIPSUIBJS XJUIBGMVGGZCMBDLGVSXJUIXIJUFQBXTBOECFMMZQ
    JNHJUFNQSPQJNHTSDIFESBMKQFHBMUUJUMF)FESBM BHFNPOUIT
    TFDUJPO

    *OUIJTFYBNQMFUIFIUUQFYBNQMFPSHBOJNBMTDBUJUFNIBTUISFFQSPQFSUJFT BOBNF )FESBM


    BEFTD
    )FESBMJT
    BOEBOJNH IFESBMKQFH
    

    "OJUFNDBOPOMZIBWFPOFUZQF5IFUZQFHJWFTUIFDPOUFYUGPSUIFQSPQFSUJFT UIVTEFИOJOHBWPDBCVMBSZBQSPQFSUZ
    OBNFEDMBTTHJWFOGPSBOJUFNXJUIUIFUZQFIUUQDFOTVTFYBNQMFQFSTPONJHIUSFGFSUPUIFFDPOPNJDDMBTTPGBO
    JOEJWJEVBM XIJMFBQSPQFSUZOBNFEDMBTTHJWFOGPSBOJUFNXJUIUIFUZQFIUUQFYBNQMFDPNTDIPPMUFBDIFSNJHIU
    SFGFSUPUIFDMBTTSPPNBUFBDIFSIBTCFFOBTTJHOFE

       #FI<;FC>?HNC]?LM@ILCN?GM

    *78BB42C8>=8B=>==>A<0C8E4

    4PNFUJNFT BO JUFN Q HJWFTJOGPSNBUJPOBCPVUBUPQJDUIBUIBTBHMPCBMJEFOUJИFS'PSFYBNQMF CPPLTDBOCF


    JEFOUJИFECZUIFJS*4#/OVNCFS

    7PDBCVMBSJFT BTJEFOUJИFECZUIF JUFNUZQF Q BUUSJCVUF


    DBOCFEFTJHOFETVDIUIBU JUFNT Q HFUBTTPDJBUFEXJUIUIFJS
    HMPCBMJEFOUJИFSJOBOVOBNCJHVPVTXBZCZFYQSFTTJOHUIFHMPCBMJEFOUJИFSTBT 63-T Q HJWFOJOBO JUFNJE Q
    BUUSJCVUF

    5IFFYBDUNFBOJOHPGUIF 63-T Q HJWFOJO JUFNJE Q BUUSJCVUFTEFQFOETPOUIFWPDBCVMBSZVTFE

    )FSF BOJUFNJTUBMLJOHBCPVUBQBSUJDVMBSCPPL

    EMJUFNTDPQF
    JUFNUZQFIUUQWPDBCFYBNQMFOFUCPPL
    DO@HD?PMIDN=I   
    EU5JUMF
    EEJUFNQSPQUJUMF5IF3FBMJUZ%ZTGVODUJPO
    EU"VUIPS
    EEJUFNQSPQBVUIPS1FUFS')BNJMUPO
    EU1VCMJDBUJPOEBUF
    EEUJNFJUFNQSPQQVCEBUFEBUFUJNF+BOVBSZUJNF
    EM

    5IFIUUQWPDBCFYBNQMFOFUCPPLWPDBCVMBSZJOUIJTFYBNQMFXPVMEEFИOFUIBUUIF JUFNJE Q BUUSJCVUF


    UBLFTB VSO 63- Q QPJOUJOHUPUIF*4#/PGUIFCPPL

    
       /?F?=NCHAH;G?MQB?H>?]HCHAPI=;<OF;LC?M

    *78BB42C8>=8B=>==>A<0C8E4

    6TJOHNJDSPEBUBNFBOTVTJOHBWPDBCVMBSZ'PSTPNFQVSQPTFT BOBEIPDWPDBCVMBSZJTBEFRVBUF'PSPUIFST B
    WPDBCVMBSZXJMMOFFEUPCFEFTJHOFE8IFSFQPTTJCMF BVUIPSTBSFFODPVSBHFEUPSFVTFFYJTUJOHWPDBCVMBSJFT BTUIJT
    NBLFTDPOUFOUSFVTFFBTJFS

    8IFOEFTJHOJOHOFXWPDBCVMBSJFT JEFOUJИFSTDBOCFDSFBUFEFJUIFSVTJOH 63-T Q PS GPSQSPQFSUJFT BTQMBJOXPSET


    XJUIOPEPUTPSDPMPOT
    'PS63-T DPOЙJDUTXJUIPUIFSWPDBCVMBSJFTDBOCFBWPJEFECZPOMZVTJOHJEFOUJИFSTUIBU
    DPSSFTQPOEUPQBHFTUIBUUIFBVUIPSIBTDPOUSPMPWFS

    'PSJOTUBODF JG+POBOE"EBNCPUIXSJUFDPOUFOUBU FYBNQMFDPN BU IUUQFYBNQMFDPN_KPO BOE


    IUUQFYBNQMFDPN_BEBN SFTQFDUJWFMZ UIFOUIFZDPVMETFMFDUJEFOUJИFSTPGUIFGPSN
    IUUQFYBNQMFDPN_KPOOBNFBOEIUUQFYBNQMFDPN_BEBNOBNFSFTQFDUJWFMZ

    1SPQFSUJFTXIPTFOBNFTBSFKVTUQMBJOXPSETDBOPOMZCFVTFEXJUIJOUIFDPOUFYUPGUIFUZQFTGPSXIJDIUIFZBSF
    JOUFOEFEQSPQFSUJFTOBNFEVTJOH63-TDBOCFSFVTFEJOJUFNTPGBOZUZQF*GBOJUFNIBTOPUZQF BOEJTOPUQBSUPG
    BOPUIFSJUFN UIFOJGJUTQSPQFSUJFTIBWFOBNFTUIBUBSFKVTUQMBJOXPSET UIFZBSFOPUJOUFOEFEUPCFHMPCBMMZVOJRVF
    BOEBSFJOTUFBEPOMZJOUFOEFEGPSMJNJUFEVTF(FOFSBMMZTQFBLJOH BVUIPSTBSFFODPVSBHFEUPVTFFJUIFSQSPQFSUJFT
    XJUIHMPCBMMZVOJRVFOBNFT 63-T
    PSFOTVSFUIBUUIFJSJUFNTBSFUZQFE

    )FSF BOJUFNJTBOIUUQFYBNQMFPSHBOJNBMTDBU BOENPTUPGUIFQSPQFSUJFTIBWFOBNFTUIBUBSFXPSET


    EFИOFEJOUIFDPOUFYUPGUIBUUZQF5IFSFBSFBMTPBGFXBEEJUJPOBMQSPQFSUJFTXIPTFOBNFTDPNFGSPNPUIFS
    WPDBCVMBSJFT

    TFDUJPOJUFNTDPQFJUFNUZQFIUUQFYBNQMFPSHBOJNBMTDBU
    IJUFNQSPQOBNFIUUQFYBNQMFDPNGO)FESBMI
    QJUFNQSPQEFTD)FESBMJTBNBMFBNFSJDBOEPNFTUJD
    TIPSUIBJS XJUIBGMVGGZTQBO
    JUFNQSPQIUUQFYBNQMFDPNDPMPSCMBDLTQBOGVSXJUITQBO
    JUFNQSPQIUUQFYBNQMFDPNDPMPSXIJUFTQBOQBXTBOECFMMZQ
    JNHJUFNQSPQJNHTSDIFESBMKQFHBMUUJUMF)FESBM BHFNPOUIT
    TFDUJPO

    5IJTFYBNQMFIBTPOFJUFNXJUIUIFUZQFIUUQFYBNQMFPSHBOJNBMTDBUBOEUIFGPMMPXJOHQSPQFSUJFT

    1SPQFSUZ 7BMVF

    OBNF )FESBM
    IUUQFYBNQMFDPNGO )FESBM
    EFTD )FESBMJTBNBMFBNFSJDBOEPNFTUJDTIPSUIBJS XJUIBЙVЗZCMBDLGVSXJUIXIJUFQBXTBOECFMMZ
    IUUQFYBNQMFDPNDPMPS CMBDL
    IUUQFYBNQMFDPNDPMPS XIJUF
    JNH IFESBMKQFH

       1MCHANB?GC=LI>;N; +),%

    *78BB42C8>=8B=>==>A<0C8E4

    5IFNJDSPEBUBCFDPNFTFWFONPSFVTFGVMXIFOTDSJQUTDBOVTFJUUPFYQPTFJOGPSNBUJPOUPUIFVTFS GPSFYBNQMF
    PЗFSJOHJUJOBGPSNUIBUDBOCFVTFECZPUIFSBQQMJDBUJPOT

    5IF EPDVNFOUHFU*UFNT ,1(%+


    Q NFUIPEQSPWJEFTBDDFTTUPUIF UPQMFWFMNJDSPEBUBJUFNT Q *USFUVSOTB
    /PEF-JTU Q DPOUBJOJOHUIFJUFNTXJUIUIFTQFDJИFEUZQFT PSBMMUZQFTJGOPBSHVNFOUJTTQFDJИFE

    &BDI JUFN Q JTSFQSFTFOUFEJOUIF%0.CZUIFFMFNFOUPOXIJDIUIFSFMFWBOU JUFNTDPQF Q BUUSJCVUFJTGPVOE5IFTF


    FMFNFOUTIBWFUIFJS FMFNFOUJUFN4DPQF Q *%-BUUSJCVUFTFUUPUSVF

    5IFUZQFPG JUFNT Q DBOCFPCUBJOFEVTJOHUIF FMFNFOUJUFN5ZQF Q *%-BUUSJCVUFPOUIFFMFNFOUXJUIUIF


    JUFNTDPQF Q BUUSJCVUF

    5IJTTBNQMFTIPXTIPXUIF HFU*UFNT
    Q NFUIPEDBOCFVTFEUPPCUBJOBMJTUPGBMMUIFUPQMFWFMNJDSPEBUB
    JUFNTPGPOFUZQFHJWFOJOUIFEPDVNFOU

    WBSDBUTEPDVNFOUHFU*UFNT IUUQFYBNQMFDPNGFMJOF
    

    
    0ODFBOFMFNFOUSFQSFTFOUJOHBO JUFN Q IBTCFFOPCUBJOFE JUTQSPQFSUJFTDBOCFFYUSBDUFEVTJOHUIF QSPQFSUJFT Q
    *%-BUUSJCVUF5IJTBUUSJCVUFSFUVSOTBO )5.-1SPQFSUJFT$PMMFDUJPO Q XIJDIDBOCFFOVNFSBUFEUPHPUISPVHIFBDI
    FMFNFOUUIBUBEETPOFPSNPSFQSPQFSUJFTUPUIFJUFN*UDBOBMTPCFJOEFYFECZOBNF XIJDIXJMMSFUVSOBOPCKFDUXJUI
    BMJTUPGUIFFMFNFOUTUIBUBEEQSPQFSUJFTXJUIUIBUOBNF

    &BDIFMFNFOUUIBUBEETBQSPQFSUZBMTPIBTB JUFN7BMVF Q *%-BUUSJCVUFUIBUSFUVSOTJUTWBMVF

    5IJTTBNQMFHFUTUIFИSTUJUFNPGUZQFIUUQFYBNQMFOFUVTFSBOEUIFOQPQTVQBOBMFSUVTJOHUIFOBNF
    QSPQFSUZGSPNUIBUJUFN

    WBSVTFSEPDVNFOUHFU*UFNT IUUQFYBNQMFOFUVTFS
    <>
    BMFSU )FMMP VTFSQSPQFSUJFT<OBNF><>DPOUFOU 
    

    5IF )5.-1SPQFSUJFT$PMMFDUJPO Q PCKFDU XIFOJOEFYFECZOBNFJOUIJTXBZ BDUVBMMZSFUVSOTB


    1SPQFSUZ/PEF-JTU Q PCKFDUXJUIBMMUIFNBUDIJOHQSPQFSUJFT5IF 1SPQFSUZ/PEF-JTU Q PCKFDUDBOCFVTFEUPPCUBJO
    BMMUIFWBMVFTBUPODFVTJOH 8CB WBMVFT Q BUUSJCVUF XIJDISFUVSOTBOBSSBZPGBMMUIFWBMVFT

    *OBOFBSMJFSFYBNQMF BIUUQFYBNQMFPSHBOJNBMTDBUJUFNIBEUXPIUUQFYBNQMFDPNDPMPSWBMVFT5IJT
    TDSJQUMPPLTVQUIFИSTUTVDIJUFNBOEUIFOMJTUTBMMJUTWBMVFT

    WBSDBUEPDVNFOUHFU*UFNT IUUQFYBNQMFPSHBOJNBMTDBU
    <>
    WBSDPMPSTDBUQSPQFSUJFT<IUUQFYBNQMFDPNDPMPS>WBMVFT
    WBSSFTVMU
    JG DPMPSTMFOHUI
    \
    SFTVMU$PMPSVOLOPXO
    ^FMTFJG DPMPSTMFOHUI
    \
    SFTVMU$PMPS DPMPST<>
    ^FMTF\
    SFTVMU$PMPST
    GPS WBSJJDPMPSTMFOHUIJ 

    SFTVMU  DPMPST<J>


    ^

    *UTBMTPQPTTJCMFUPHFUBMJTUPGBMMUIF QSPQFSUZOBNFT Q VTJOHUIFPCKFDUT OBNFT Q *%-BUUSJCVUF

    5IJTFYBNQMFDSFBUFTBCJHMJTUXJUIBOFTUFEMJTUGPSFBDIJUFNPOUIFQBHF FBDIXJUIPGBMMUIFQSPQFSUZOBNFT
    VTFEJOUIBUJUFN

    WBSPVUFSEPDVNFOUDSFBUF&MFNFOU VM
    
    WBSJUFNTEPDVNFOUHFU*UFNT
    
    GPS WBSJUFNJUFNJUFNTMFOHUIJUFN 
    \
    WBSJUFN-JEPDVNFOUDSFBUF&MFNFOU MJ
    
    WBSJOOFSEPDVNFOUDSFBUF&MFNFOU VM
    
    GPS WBSOBNFOBNFJUFNT<JUFN>QSPQFSUJFTOBNFTMFOHUIOBNF 
    \
    WBSQSPQ-JEPDVNFOUDSFBUF&MFNFOU MJ
    
    QSPQ-JBQQFOE$IJME EPDVNFOUDSFBUF5FYU/PEF JUFNT<JUFN>QSPQFSUJFTOBNFT<OBNF>

    
    JOOFSBQQFOE$IJME QSPQ-J
    
    ^
    JUFN-JBQQFOE$IJME JOOFS
    
    PVUFSBQQFOE$IJME JUFN-J
    
    ^
    EPDVNFOUCPEZBQQFOE$IJME PVUFS
    

    *GGBDFEXJUIUIFGPMMPXJOHGSPNBOFBSMJFSFYBNQMF

    TFDUJPOJUFNTDPQFJUFNUZQFIUUQFYBNQMFPSHBOJNBMTDBU
    IJUFNQSPQOBNFIUUQFYBNQMFDPNGO)FESBMI
    QJUFNQSPQEFTD)FESBMJTBNBMFBNFSJDBOEPNFTUJD
    TIPSUIBJS XJUIBGMVGGZTQBO
    JUFNQSPQIUUQFYBNQMFDPNDPMPSCMBDLTQBOGVSXJUITQBO
    JUFNQSPQIUUQFYBNQMFDPNDPMPSXIJUFTQBOQBXTBOECFMMZQ
    JNHJUFNQSPQJNHTSDIFESBMKQFHBMUUJUMF)FESBM BHFNPOUIT
    TFDUJPO

    JUXPVMESFTVMUJOUIFGPMMPXJOHPVUQVU

    Ǭ Ǭ OBNF
    Ǭ IUUQFYBNQMFDPNGO

    
    Ǭ EFTD
    Ǭ IUUQFYBNQMFDPNDPMPS
    Ǭ JNH

    5IFEVQMJDBUFPDDVSSFODFPGIUUQFYBNQMFDPNDPMPSJTOPUJODMVEFEJOUIFMJTU

      !H=I>CHAGC=LI>;N;

       0B?GC=LI>;N;GI>?F

    5IFNJDSPEBUBNPEFMDPOTJTUTPGHSPVQTPGOBNFWBMVFQBJSTLOPXOBT JUFNT Q 

    &BDIHSPVQJTLOPXOBTBO JUFN Q &BDI JUFN Q DBOIBWFBO JUFNUZQF Q B HMPCBMJEFOUJИFS Q JGUIF JUFNUZQF Q
    TVQQPSUTHMPCBMJEFOUJИFSTGPSJUTJUFNT Q
    BOEBMJTUPGOBNFWBMVFQBJST&BDIOBNFJOUIFOBNFWBMVFQBJSJTLOPXO
    BTB QSPQFSUZ Q BOEFBDI QSPQFSUZ Q IBTPOFPSNPSF WBMVFT Q &BDI WBMVF Q JTFJUIFSBTUSJOHPSJUTFMGBHSPVQPG
    OBNFWBMVFQBJST BO JUFN Q
    

    "O JUFN Q JTTBJEUPCFB NSJ?>CN?G XIFOFJUIFSJUIBTBO JUFNUZQF Q PSJUJTUIF WBMVF Q PGB QSPQFSUZ Q PGB
    UZQFEJUFN Q 5IF L?F?P;HNNSJ? GPSB UZQFEJUFN Q JTUIF JUFN Q T JUFNUZQF Q JGJUIBTPOF PSFMTFJTUIF
    SFMFWBOUUZQF Q PGUIF JUFN Q GPSXIJDIJUJTB QSPQFSUZ Q T WBMVF Q 

       %N?GM

    &WFSZ )5.-FMFNFOU Q NBZIBWFBO DO@HN>JK@ BUUSJCVUFTQFDJИFE5IF JUFNTDPQF Q BUUSJCVUFJTB CPPMFBO
    BUUSJCVUF Q 

    "OFMFNFOUXJUIUIF JUFNTDPQF Q BUUSJCVUFTQFDJИFEDSFBUFTBOFX CN?G BHSPVQPGOBNFWBMVFQBJST

    &MFNFOUTXJUIBO JUFNTDPQF Q BUUSJCVUFNBZIBWFBO DO@HOTK@ BUUSJCVUFTQFDJИFE UPHJWFUIF JUFNUZQF Q PGUIF
    JUFN Q 

    5IF JUFNUZQF Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJE63- Q UIBUJTBO BCTPMVUF63- Q GPSXIJDI
    UIFTUSJOHIUUQXXXXPSHYIUNMNJDSPEBUBJTOPUB QSFИYNBUDI Q 

    5IF CN?GNSJ? PGBO JUFN Q JTUIFWBMVFPGJUTFMFNFOUT JUFNUZQF Q BUUSJCVUF JGJUIBTPOFBOEJUTWBMVFJTOPUUIF
    FNQUZTUSJOH*GUIF JUFNUZQF Q BUUSJCVUFJTNJTTJOHPSJUTWBMVFJTUIFFNQUZTUSJOH UIF JUFN Q JTTBJEUPIBWFOP
    JUFNUZQF Q 

    5IF JUFNUZQF Q NVTUCFBUZQFEFИOFEJOBO BQQMJDBCMFTQFDJИDBUJPO Q 

    &YDFQUJGPUIFSXJTFTQFDJИFECZUIBUTQFDJИDBUJPO UIF 63- Q HJWFOBTUIF JUFNUZQF Q TIPVMEOPUCFBVUPNBUJDBMMZ


    EFSFGFSFODFE

    *HM> LI><B[<:MBHG<HNE==>[G>MA:MBML BM>FMRI> I <:G;>=>K>?>G<>=MHIKHOB=>MA>NL>K


    PBMAA>EIBG?HKF:MBHG ?HK>Q:FIE> %G?:<M OH<:;NE:KR:NMAHKL:K>>G<HNK:@>=MHIKHOB=>NL>?NE
    BG?HKF:MBHG:MMA>@BO>G 1.( I

    *UFNUZQFT Q BSFPQBRVFJEFOUJИFST BOEVTFSBHFOUTNVTUOPUEFSFGFSFODFVOLOPXO JUFNUZQFT Q PSPUIFSXJTF


    EFDPOTUSVDUUIFN JOPSEFSUPEFUFSNJOFIPXUPQSPDFTT JUFNT Q UIBUVTFUIFN

    5IF JUFNUZQF Q BUUSJCVUFNVTUOPUCFTQFDJИFEPOFMFNFOUTUIBUEPOPUIBWFBO JUFNTDPQF Q BUUSJCVUFTQFDJИFE

    &MFNFOUTXJUIBO JUFNTDPQF Q BUUSJCVUFBOEBO JUFNUZQF Q BUUSJCVUFUIBUSFGFSFODFTBWPDBCVMBSZUIBUJTEFИOFEUP


    MOJJILNAFI<;FC>?HNC]?LM@ILCN?GM NBZBMTPIBWFBO DO@HD? BUUSJCVUFTQFDJИFE UPHJWFBHMPCBMJEFOUJИFSGPSUIF
    JUFN Q TPUIBUJUDBOCFSFMBUFEUPPUIFS JUFNT Q POQBHFTFMTFXIFSFPOUIF8FC

    5IF JUFNJE Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJE63- Q 

    5IF AFI<;FC>?HNC]?L PGBO JUFN Q JTUIFWBMVFPGJUTFMFNFOUT JUFNJE Q BUUSJCVUF JGJUIBTPOF SFTPMWFE Q SFMBUJWF
    UPUIFFMFNFOUPOXIJDIUIFBUUSJCVUFJTTQFDJИFE*GUIF JUFNJE Q BUUSJCVUFJTNJTTJOHPSJGSFTPMWJOHJUGBJMT JUJTTBJE
    UPIBWFOP HMPCBMJEFOUJИFS Q 

    5IF JUFNJE Q BUUSJCVUFNVTUOPUCFTQFDJИFEPOFMFNFOUTUIBUEPOPUIBWFCPUIBO JUFNTDPQF Q BUUSJCVUFBOEBO


    JUFNUZQF Q BUUSJCVUFTQFDJИFE BOENVTUOPUCFTQFDJИFEPOFMFNFOUTXJUIBO JUFNTDPQF Q BUUSJCVUFXIPTF

    
    JUFNUZQF Q BUUSJCVUFTQFDJИFTBWPDBCVMBSZUIBUEPFTOPU TVQQPSUHMPCBMJEFOUJИFSTGPSJUFNT Q BTEFИOFECZUIBU
    WPDBCVMBSZTTQFDJИDBUJPO

    &MFNFOUTXJUIBO JUFNTDPQF Q BUUSJCVUFNBZIBWFBO DO@HM@A BUUSJCVUFTQFDJИFE UPHJWFBMJTUPGBEEJUJPOBMFMFNFOUT


    UPDSBXMUPИOEUIFOBNFWBMVFQBJSTPGUIF JUFN Q 

    5IF JUFNSFG Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTBO VOPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFEUPLFOT Q


    DPOTJTUJOHPG *%T Q PGFMFNFOUTJOUIFTBNF IPNFTVCUSFF Q 

    5IF JUFNSFG Q BUUSJCVUFNVTUOPUCFTQFDJИFEPOFMFNFOUTUIBUEPOPUIBWFBO JUFNTDPQF Q BUUSJCVUFTQFDJИFE

       *;G?MNB? DO@HKMJK ;NNLC<ON?

    &WFSZ )5.-FMFNFOU Q NBZIBWFBO JUFNQSPQ Q BUUSJCVUFTQFDJИFE JGEPJOHTP BEETBQSPQFSUZ Q UPPOFPSNPSF
    JUFNT Q BTEFИOFECFMPX
    

    5IF JUFNQSPQ Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTBO VOPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFE


    UPLFOT Q SFQSFTFOUJOHUIFOBNFTPGUIFOBNFWBMVFQBJSTUIBUJUBEET5IFBUUSJCVUFTWBMVFNVTUIBWFBUMFBTUPOF
    UPLFO

    &BDIUPLFONVTUCFFJUIFS

    Ǭ " WBMJE63- Q UIBUJTBO BCTPMVUF63- Q GPSXIJDIUIFTUSJOHIUUQXXXXPSHYIUNM


    NJDSPEBUBJTOPUB QSFИYNBUDI Q PS

    Ǭ *GUIFJUFNJTB UZQFEJUFN Q B >?]H?>JLIJ?LNSH;G? BMMPXFEJOUIJTTJUVBUJPOBDDPSEJOHUPUIF


    TQFDJИDBUJPOUIBUEFИOFTUIF SFMFWBOUUZQF Q GPSUIFJUFN PS

    Ǭ *GUIFJUFNJTOPUB UZQFEJUFN Q BTUSJOHUIBUDPOUBJOTOP6 &'6--4501DIBSBDUFST 


    BOEOP
    6 "$0-0/DIBSBDUFST 
    

    8IFOBOFMFNFOUXJUIBO JUFNQSPQ BUUSJCVUF BEETBQSPQFSUZ Q UPNVMUJQMF JUFNT Q UIFSFRVJSFNFOUBCPWF


    SFHBSEJOHUIFUPLFOTBQQMJFTGPSFBDI JUFN Q JOEJWJEVBMMZ

    5IF JLIJ?LNSH;G?M PGBOFMFNFOUBSFUIFUPLFOTUIBUUIFFMFNFOUT JUFNQSPQ Q BUUSJCVUFJTGPVOEUPDPOUBJOXIFO


    JUTWBMVFJT TQMJUPOTQBDFT Q XJUIUIFPSEFSQSFTFSWFECVUXJUIEVQMJDBUFTSFNPWFE MFBWJOHPOMZUIFИSTUPDDVSSFODF
    PGFBDIOBNF
    

    8JUIJOBO JUFN Q UIFQSPQFSUJFTBSFVOPSEFSFEXJUISFTQFDUUPFBDIPUIFS FYDFQUGPSQSPQFSUJFTXJUIUIFTBNFOBNF


    XIJDIBSFPSEFSFEJOUIFPSEFSUIFZBSFHJWFOCZUIFBMHPSJUINUIBUEFИOFT UIFQSPQFSUJFTPGBOJUFN Q 

    *OUIFGPMMPXJOHFYBNQMF UIFBQSPQFSUZIBTUIFWBMVFTBOE 8=C70C>A34A CVUXIFUIFSUIFBQSPQFSUZ


    DPNFTCFGPSFUIFCQSPQFSUZPSOPUJTOPUJNQPSUBOU

    EJWJUFNTDPQF
    QJUFNQSPQBQ
    QJUFNQSPQBQ
    QJUFNQSPQCUFTUQ
    EJW

    5IVT UIFGPMMPXJOHJTFRVJWBMFOU

    EJWJUFNTDPQF
    QJUFNQSPQCUFTUQ
    QJUFNQSPQBQ
    QJUFNQSPQBQ
    EJW

    "TJTUIFGPMMPXJOH

    EJWJUFNTDPQF
    QJUFNQSPQBQ
    QJUFNQSPQCUFTUQ
    QJUFNQSPQBQ
    EJW

    "OEUIFGPMMPXJOH

    
    EJWJUFNTDPQFJUFNSFGY
    QJUFNQSPQCUFTUQ
    QJUFNQSPQBQ
    EJW
    EJWJEY
    QJUFNQSPQBQ
    EJW

       2;FO?M

    5IF JLIJ?LNSP;FO? PGBOBNFWBMVFQBJSBEEFECZBOFMFNFOUXJUIBO JUFNQSPQ Q BUUSJCVUFEFQFOETPOUIF


    FMFNFOU BTGPMMPXT

    %@NB??F?G?HN;FMIB;M;H DO@HN>JK@ K ;NNLC<ON?


    5IFWBMVFJTUIF JUFN Q DSFBUFECZUIFFMFNFOU

    %@NB??F?G?HNCM; H@O< K ?F?G?HN


    5IFWBMVFJTUIFWBMVFPGUIFFMFNFOUT DPOUFOU BUUSJCVUF JGBOZ PSUIFFNQUZTUSJOHJGUIFSFJTOPTVDIBUUSJCVUF

    %@NB??F?G?HNCM;H <P?DJ K


    @H=@? K
    DAM<H@ K
    DHB K
    NJPM>@ K
    IL QD?@J K ?F?G?HN
    5IFWBMVFJTUIF BCTPMVUF63- Q UIBUSFTVMUTGSPN SFTPMWJOH Q UIFWBMVFPGUIFFMFNFOUT TSD BUUSJCVUFSFMBUJWFUP
    UIFFMFNFOUBUUIFUJNFUIFBUUSJCVUFJTTFU PSUIFFNQUZTUSJOHJGUIFSFJTOPTVDIBUUSJCVUFPSJG SFTPMWJOH Q JU
    SFTVMUTJOBOFSSPS

    %@NB??F?G?HNCM;H < K


    <M@< K
    IL GDIF K ?F?G?HN
    5IFWBMVFJTUIF BCTPMVUF63- Q UIBUSFTVMUTGSPN SFTPMWJOH Q UIFWBMVFPGUIFFMFNFOUT ISFG BUUSJCVUFSFMBUJWF
    UPUIFFMFNFOUBUUIFUJNFUIFBUUSJCVUFJTTFU PSUIFFNQUZTUSJOHJGUIFSFJTOPTVDIBUUSJCVUFPSJG SFTPMWJOH Q JU
    SFTVMUTJOBOFSSPS

    %@NB??F?G?HNCM;H J=E@>O K ?F?G?HN


    5IFWBMVFJTUIF BCTPMVUF63- Q UIBUSFTVMUTGSPN SFTPMWJOH Q UIFWBMVFPGUIFFMFNFOUT EBUB BUUSJCVUFSFMBUJWF
    UPUIFFMFNFOUBUUIFUJNFUIFBUUSJCVUFJTTFU PSUIFFNQUZTUSJOHJGUIFSFJTOPTVDIBUUSJCVUFPSJG SFTPMWJOH Q JU
    SFTVMUTJOBOFSSPS

    %@NB??F?G?HNCM; ODH@ K ?F?G?HNQCNB; ?<O@ODH@ K ;NNLC<ON?


    5IFWBMVFJTUIFWBMVFPGUIFFMFNFOUT EBUFUJNF Q BUUSJCVUF

    +NB?LQCM?
    5IFWBMVFJTUIFFMFNFOUT UFYU$POUFOU Q 

    5IF 1.(JLIJ?LNS?F?G?HNM BSFUIF B Q BSFB Q BVEJP Q FNCFE Q JGSBNF Q JNH Q MJOL Q PCKFDU Q
    TPVSDF Q BOE WJEFP Q FMFNFOUT

    *GBQSPQFSUZT WBMVF Q JTBO BCTPMVUF63- Q UIFQSPQFSUZNVTUCFTQFDJИFEVTJOHB 63-QSPQFSUZFMFNFOU Q 

    *GBQSPQFSUZT WBMVF Q SFQSFTFOUTB EBUF Q UJNF Q PS HMPCBMEBUFBOEUJNF Q UIFQSPQFSUZNVTUCFTQFDJИFEVTJOH
    UIF EBUFUJNF Q BUUSJCVUFPGB UJNF Q FMFNFOU

       MMI=C;NCHAH;G?MQCNBCN?GM

    5PИOE NB?JLIJ?LNC?MI@;HCN?G EFИOFECZUIFFMFNFOU A>>C UIFVTFSBHFOUNVTUUSZUP DSBXMUIFQSPQFSUJFT Q PG


    UIFFMFNFOU A>>C XJUIBOFNQUZMJTUBTUIFWBMVFPG <4<>AHJGUIJTGBJMT UIFO UIFQSPQFSUJFTPGUIFJUFN Q EFИOFECZ
    UIFFMFNFOU A>>C JTBOFNQUZMJTUPUIFSXJTF JUJTUIFSFUVSOFEMJTU

    5P =L;QFNB?JLIJ?LNC?M PGBOFMFNFOU A>>C XJUIBMJTU <4<>AH UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT5IFTF


    TUFQTFJUIFSGBJMPSSFUVSOBMJTUXJUIBDPVOUPGFSSPST5IFDPVOUPGFSSPSTJTVTFEBTQBSUPGUIFBVUIPSJOHDPOGPSNBODF
    DSJUFSJBCFMPX

     *G A>>C JTJO <4<>AH UIFOUIFBMHPSJUINGBJMTBCPSUUIFTFTUFQT

     $PMMFDUBMMUIFFMFNFOUTJOUIFJUFN Q A>>CMFU A4BD;CB CFUIFSFTVMUJOHMJTUPGFMFNFOUT BOE 4AA>AB CFUIF


    SFTVMUJOHDPVOUPGFSSPST

     3FNPWFBOZFMFNFOUTGSPN A4BD;CB UIBUEPOPUIBWFBO JUFNQSPQ Q BUUSJCVUFTQFDJИFE

    
     -FU =4F<4<>AH CFBOFXMJTUDPOTJTUJOHPGUIFPMEMJTU <4<>AH XJUIUIFBEEJUJPOPG A>>C

     'PSFBDIFMFNFOUJO A4BD;CB UIBUIBTBO JUFNTDPQF Q BUUSJCVUFTQFDJИFE DSBXMUIFQSPQFSUJFT Q PGUIF


    FMFNFOU XJUI =4F<4<>AH BTUIFNFNPSZ*GUIJTGBJMT UIFOSFNPWFUIFFMFNFOUGSPN A4BD;CB BOEJODSFNFOU
    4AA>AB *GJUTVDDFFET UIFSFUVSOWBMVFJTEJTDBSEFE

     4PSU A4BD;CB JO USFFPSEFS Q 

     3FUVSO A4BD;CB BOE 4AA>AB

    5P =IFF?=N;FFNB??F?G?HNMCHNB?CN?G A>>C UIFVTFSBHFOUNVTUSVOUIFTFTUFQT5IFZSFUVSOBMJTUPGFMFNFOUT


    BOEBDPVOUPGFSSPST

     -FU A4BD;CB BOE ?4=38=6 CFFNQUZMJTUTPGFMFNFOUT

     -FU 4AA>AB CF[FSP

     "EEBMMUIFDIJMESFOFMFNFOUTPG A>>C UP ?4=38=6

     *G A>>C IBTBO JUFNSFG Q BUUSJCVUF TQMJUUIFWBMVFPGUIBU JUFNSFG BUUSJCVUFPOTQBDFT Q 'PSFBDISFTVMUJOH
    UPLFO  JGUIFSFJTBOFMFNFOUJOUIF IPNFTVCUSFF Q PG A>>C XJUIUIF *% Q  UIFOBEEUIFИSTUTVDI
    FMFNFOUUP ?4=38=6

     ">>?3FNPWFBOFMFNFOUGSPN ?4=38=6 BOEMFU 2DAA4=C CFUIBUFMFNFOU

     *G 2DAA4=C JTBMSFBEZJO A4BD;CB JODSFNFOU 4AA>AB

     *G 2DAA4=C JTOPUBMSFBEZJO A4BD;CB BOE 2DAA4=C EPFTOPUIBWFBO JUFNTDPQF Q BUUSJCVUF UIFOBEEBMMUIF
    DIJMEFMFNFOUTPG 2DAA4=C UP ?4=38=6

     *G 2DAA4=C JTOPUBMSFBEZJO A4BD;CB UIFOBEE 2DAA4=C UP A4BD;CB

     =3>5;>>?*G ?4=38=6 JTOPUFNQUZ SFUVSOUPUIFTUFQMBCFMFE ;>>?

     3FUVSO A4BD;CB BOE 4AA>AB

    "O JUFN Q JTB NIJ F?P?FGC=LI>;N;CN?G JGJUTFMFNFOUEPFTOPUIBWFBO JUFNQSPQ Q BUUSJCVUF

    "O JUFN Q JTB OM?>GC=LI>;N;CN?G JGJUJTB UPQMFWFMNJDSPEBUBJUFN Q PSJGJUIBTBO JUFNQSPQ Q BUUSJCVUFBOE
    XPVMECF GPVOEUPCFUIFQSPQFSUZ Q PGBO JUFN Q UIBUJTJUTFMGB VTFENJDSPEBUBJUFN Q 

    "EPDVNFOUNVTUOPUDPOUBJOBOZ JUFNT Q UIBUBSFOPU VTFENJDSPEBUBJUFNT Q 

    "EPDVNFOUNVTUOPUDPOUBJOBOZFMFNFOUTUIBUIBWFBO JUFNQSPQ Q BUUSJCVUFUIBUXPVMEOPUCFGPVOEUPCFB


    QSPQFSUZPGBOZPGUIF JUFNT Q JOUIBUEPDVNFOUXFSFUIFJS QSPQFSUJFT Q BMMUPCFEFUFSNJOFE

    "EPDVNFOUNVTUOPUDPOUBJOBOZ JUFNT Q GPSXIJDI DSBXMJOHUIFQSPQFSUJFT Q PGUIFFMFNFOU XJUIBOFNQUZMJTUBT


    UIFWBMVFPG <4<>AH FJUIFSGBJMTPSSFUVSOTBOFSSPSDPVOUPUIFSUIBO[FSP

    *HM> 0A>:E@HKBMAFLBGMABLL><MBHG:K>>LI><B:EERBG>]<B>GM BGMA>BGM>K>LMLH?D>>IBG@MA>F


    >:LRMHNG=>KLM:G= %FIE>F>GMHKL:K>LMKHG@ER>G<HNK:@>=MHK>?:<MHK:G=HIMBFBS>MA>FBGMA>BK
    NL>K:@>GML

    *OUIJTFYBNQMF BTJOHMFMJDFOTFTUBUFNFOUJTBQQMJFEUPUXPXPSLT VTJOH JUFNSFG Q GSPNUIFJUFNT


    SFQSFTFOUJOHUIFXPSLT

    %0$5:1&)5.-
    IUNM
    IFBE
    UJUMF1IPUPHBMMFSZUJUMF
    IFBE
    CPEZ
    I.ZQIPUPTI
    GJHVSFJUFNTDPQFJUFNUZQFIUUQOXIBUXHPSHXPSLJUFNSFGMJDFOTFT
    JNHJUFNQSPQXPSLTSDJNBHFTIPVTFKQFHBMU"XIJUFIPVTF CPBSEFEVQ TJUTJOB
    GPSFTU
    GJHDBQUJPOJUFNQSPQUJUMF5IFIPVTF*GPVOEGJHDBQUJPO
    GJHVSF
    GJHVSFJUFNTDPQFJUFNUZQFIUUQOXIBUXHPSHXPSLJUFNSFGMJDFOTFT
    JNHJUFNQSPQXPSLTSDJNBHFTNBJMCPYKQFHBMU0VUTJEFUIFIPVTFJTBNBJMCPY*U
    IBTBMFBGMFUJOTJEF

    
    GJHDBQUJPOJUFNQSPQUJUMF5IFNBJMCPYGJHDBQUJPO
    GJHVSF
    GPPUFS
    QJEMJDFOTFT"MMJNBHFTMJDFOTFEVOEFSUIFBJUFNQSPQMJDFOTF
    ISFGIUUQXXXPQFOTPVSDFPSHMJDFOTFTNJUMJDFOTFQIQ.*5
    MJDFOTFBQ
    GPPUFS
    CPEZ
    IUNM

    5IFBCPWFSFTVMUTJOUXPJUFNTXJUIUIFUZQFIUUQOXIBUXHPSHXPSL POFXJUI

    QILE
    JNBHFTIPVTFKQFH
    NCNF?
    5IFIPVTF*GPVOE
    FC=?HM?
    IUUQXXXPQFOTPVSDFPSHMJDFOTFTNJUMJDFOTFQIQ

    BOEPOFXJUI

    QILE
    JNBHFTNBJMCPYKQFH
    NCNF?
    5IFNBJMCPY
    FC=?HM?
    IUUQXXXPQFOTPVSDFPSHMJDFOTFTNJUMJDFOTFQIQ

      )C=LI>;N; +),%

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM B@O'O@HN 7 MRI>L 8
    Q
    3FUVSOTB /PEF-JTU PGUIFFMFNFOUTJOUIF %PDVNFOU Q UIBUDSFBUF JUFNT Q UIBUBSFOPUQBSUPGPUIFS
    Q
    JUFNT BOEUIBUBSFPGPOFPGUIFUZQFTHJWFOJOUIFBSHVNFOU JGBOZBSFMJTUFE
    5IF CH?4B BSHVNFOUJTJOUFSQSFUFEBTBTQBDFTFQBSBUFEMJTUPGUZQFT

    >E>F>GM KMJK@MOD@N K


    *GUIFFMFNFOUIBTBO JUFNTDPQF Q BUUSJCVUF SFUVSOTBO )5.-1SPQFSUJFT$PMMFDUJPO Q PCKFDUXJUIBMMUIF
    FMFNFOUTQSPQFSUJFT0UIFSXJTF BOFNQUZ )5.-1SPQFSUJFT$PMMFDUJPO Q PCKFDU

    >E>F>GM DO@H4<GP@ K 7 O:EN> 8


    3FUVSOTUIFFMFNFOUT WBMVF Q 
    $BOCFTFU UPDIBOHFUIFFMFNFOUT WBMVF Q 4FUUJOHUIF WBMVF Q XIFOUIFFMFNFOUIBTOP JUFNQSPQ Q
    BUUSJCVUFPSXIFOUIFFMFNFOUTWBMVFJTBO JUFN Q UISPXTBO */7"-*%@"$$&44@&33 Q FYDFQUJPO

    5IF ?J>PH@IO B@O'O@HNMRI>,:F>L NFUIPEUBLFTBOPQUJPOBMTUSJOHUIBUDPOUBJOTBO VOPSEFSFETFUPGVOJRVFTQBDF


    TFQBSBUFEUPLFOT Q SFQSFTFOUJOHUZQFT8IFODBMMFE UIFNFUIPENVTUSFUVSOB MJWF Q /PEF-JTU Q PCKFDUDPOUBJOJOH
    BMMUIFFMFNFOUTJOUIFEPDVNFOU JO USFFPSEFS Q UIBUBSFFBDI UPQMFWFMNJDSPEBUBJUFNT Q XJUIB UZQF Q FRVBMUP
    POFPGUIFUZQFTTQFDJИFEJOUIBUBSHVNFOU IBWJOHPCUBJOFEUIFUZQFTCZ TQMJUUJOHUIFTUSJOHPOTQBDFT Q *GUIFSFBSF
    OPUPLFOTTQFDJИFEJOUIFBSHVNFOU PSJGUIFBSHVNFOUJTNJTTJOH UIFOUIFNFUIPENVTUSFUVSOB /PEF-JTU Q
    DPOUBJOJOHBMMUIF UPQMFWFMNJDSPEBUBJUFNT Q JOUIFEPDVNFOU8IFOUIFNFUIPEJTJOWPLFEPOB %PDVNFOU Q PCKFDU
    BHBJOXJUIUIFTBNFBSHVNFOU UIFVTFSBHFOUNBZSFUVSOUIFTBNFPCKFDUBTUIFPCKFDUSFUVSOFECZUIFFBSMJFSDBMM*O
    PUIFSDBTFT BOFX /PEF-JTU Q PCKFDUNVTUCFSFUVSOFE

    5IF DO@H1>JK@ *%-BUUSJCVUFPO )5.-FMFNFOUT Q NVTU SFЙFDU Q UIF JUFNTDPQF Q DPOUFOUBUUSJCVUF5IF DO@H2TK@
    *%-BUUSJCVUFPO )5.-FMFNFOUT Q NVTU SFЙFDU Q UIF JUFNUZQF Q DPOUFOUBUUSJCVUF BTJGJUXBTBSFHVMBSTUSJOH
    BUUSJCVUF OPUB 63- Q TUSJOHBUUSJCVUF5IF DO@H'? *%-BUUSJCVUFPO )5.-FMFNFOUT Q NVTU SFЙFDU Q UIF JUFNJE Q
    DPOUFOUBUUSJCVUF5IF DO@H.MJK *%-BUUSJCVUFPO )5.-FMFNFOUT Q NVTU SFЙFDU Q UIF JUFNQSPQ Q DPOUFOUBUUSJCVUF
    5IF DO@H0@A *%-BUUSJCVUFPO )5.-FMFNFOUT Q NVTU SFЙFDU Q UIF JUFNSFG Q DPOUFOUBUUSJCVUF

    
    5IF KMJK@MOD@N *%-BUUSJCVUFPO )5.-FMFNFOUT Q NVTUSFUVSOBO )5.-1SPQFSUJFT$PMMFDUJPO Q SPPUFEBUUIF
    %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZFMFNFOUTUIBUIBWF QSPQFSUZOBNFT Q BOEBSF UIFQSPQFSUJFTPGUIF
    JUFN Q DSFBUFECZUIFFMFNFOUPOXIJDIUIFBUUSJCVUFXBTJOWPLFE XIJMFUIBUFMFNFOUJTBO JUFN Q BOENBUDIFT
    OPUIJOHUIFSFTUPGUIFUJNF

    5IF DO@H4<GP@ *%-BUUSJCVUFTCFIBWJPSEFQFOETPOUIFFMFNFOU BTGPMMPXT

    %@NB??F?G?HNB;MHI DO@HKMJK K ;NNLC<ON?


    5IFBUUSJCVUFNVTUSFUVSOOVMMPOHFUUJOHBOENVTUUISPXBO */7"-*%@"$$&44@&33 Q FYDFQUJPOPOTFUUJOH

    %@NB??F?G?HNB;M;H DO@HN>JK@ K ;NNLC<ON?


    5IFBUUSJCVUFNVTUSFUVSOUIFFMFNFOUJUTFMGPOHFUUJOHBOENVTUUISPXBO */7"-*%@"$$&44@&33 Q FYDFQUJPOPO
    TFUUJOH

    %@NB??F?G?HNCM; H@O< K ?F?G?HN


    5IFBUUSJCVUFNVTUBDUBTJUXPVMEJGJUXBT SFЙFDUJOH Q UIFFMFNFOUT DPOUFOU Q DPOUFOUBUUSJCVUF

    %@NB??F?G?HNCM;H <P?DJ K


    @H=@? K
    DAM<H@ K
    DHB K
    NJPM>@ K
    IL QD?@J K ?F?G?HN
    5IFBUUSJCVUFNVTUBDUBTJUXPVMEJGJUXBT SFЙFDUJOH Q UIFFMFNFOUT TSD DPOUFOUBUUSJCVUF

    %@NB??F?G?HNCM;H < K


    <M@< K
    IL GDIF K ?F?G?HN
    5IFBUUSJCVUFNVTUBDUBTJUXPVMEJGJUXBT SFЙFDUJOH Q UIFFMFNFOUT ISFG DPOUFOUBUUSJCVUF

    %@NB??F?G?HNCM;H J=E@>O K ?F?G?HN


    5IFBUUSJCVUFNVTUBDUBTJUXPVMEJGJUXBT SFЙFDUJOH Q UIFFMFNFOUT EBUB DPOUFOUBUUSJCVUF

    %@NB??F?G?HNCM; ODH@ K ?F?G?HNQCNB; ?<O@ODH@ K ;NNLC<ON?


    5IFBUUSJCVUFNVTUBDUBTJUXPVMEJGJUXBT SFЙFDUJOH Q UIFFMFNFOUT EBUFUJNF Q DPOUFOUBUUSJCVUF

    +NB?LQCM?
    5IFBUUSJCVUFNVTUBDUUIFTBNFBTUIFFMFNFOUT UFYU$POUFOU Q BUUSJCVUF

    8IFOUIF JUFN7BMVF Q *%-BUUSJCVUFJT SFЙFDUJOH Q BDPOUFOUBUUSJCVUFPSBDUJOHMJLFUIFFMFNFOUT UFYU$POUFOU Q


    BUUSJCVUF UIFVTFSBHFOUNVTU POTFUUJOH DPOWFSUUIFOFXWBMVFUPUIF*%- %0.4USJOH WBMVFCFGPSFVTJOHJUBDDPSEJOH
    UPUIFNBQQJOHTEFTDSJCFEBCPWF

    *OUIJTFYBNQMF BTDSJQUDIFDLTUPTFFJGBQBSUJDVMBSFMFNFOU 4;4<4=C JTEFDMBSJOHBQBSUJDVMBSQSPQFSUZ BOEJGJUJT JU


    JODSFNFOUTBDPVOUFS

    JG FMFNFOUJUFN1SPQDPOUBJOT DPMPS

    DPVOU 

    5IJTTDSJQUJUFSBUFTPWFSFBDIPGUIFWBMVFTPGBOFMFNFOUT JUFNSFG Q BUUSJCVUF DBMMJOHBGVODUJPOGPSFBDISFGFSFODFE


    FMFNFOU

    GPS WBSJOEFYJOEFYFMFNFOUJUFN3FGMFOHUIJOEFY 

    QSPDFTT EPDVNFOUHFU&MFNFOU#Z*E FMFNFOUJUFN3FG<JOEFY>

      )C=LI>;N;PI=;<OF;LC?M

       P;L>

    "OJUFNXJUIUIF JUFNUZQF Q COOKHD>MJAJMH<ON JMBKMJADG@C><M? SFQSFTFOUTBQFSTPOTPSPSHBOJ[BUJPOT


    DPOUBDUJOGPSNBUJPO

    5IJTWPDBCVMBSZ TVQQPSUTHMPCBMJEFOUJИFSTGPSJUFNT Q 

    5IFGPMMPXJOHBSFUIFUZQFT EFИOFEQSPQFSUZOBNFT Q 5IFZBSFCBTFEPOUIFWPDBCVMBSZEFИOFEJOUIFW$BSE


    TQFDJИDBUJPOBOEJUTFYUFOTJPOT XIFSFNPSFJOGPSNBUJPOPOIPXUPJOUFSQSFUUIFWBMVFTDBOCFGPVOE <3'$> Q
    <3'$> Q

    ?G
    (JWFTUIFGPSNBUUFEUFYUDPSSFTQPOEJOHUPUIFOBNFPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    
    &YBDUMZPOFQSPQFSUZXJUIUIFOBNF GO Q NVTUCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF
    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    G
    (JWFTUIFTUSVDUVSFEOBNFPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFBO JUFN Q XJUI[FSPPSNPSFPGFBDIPGUIF GBNJMZOBNF Q HJWFOOBNF Q
    BEEJUJPOBMOBNF Q IPOPSJGJDQSFGJY Q BOE IPOPSJGJDTVGGJY Q QSPQFSUJFT

    &YBDUMZPOFQSPQFSUZXJUIUIFOBNF O Q NVTUCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    ?:FBER G:F> CHMC>? I K 


    (JWFTUIFGBNJMZOBNFPGUIFQFSTPO PSUIFGVMMOBNFPGUIFPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF GBNJMZOBNF Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF


    WBMVF Q PGUIF O Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    @BO>G G:F> CHMC>? I K 


    (JWFTUIFHJWFOOBNFPGUIFQFSTPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF HJWFOOBNF Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF


    WBMVF Q PGUIF O Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    :==BMBHG:E G:F> CHMC>? I K 


    (JWFTUIFBOZBEEJUJPOBMOBNFTPGUIFQFSTPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF BEEJUJPOBMOBNF Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF


    WBMVF Q PGUIF O Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    AHGHKB?B< IK>?BQ CHMC>? I K 


    (JWFTUIFIPOPSJИDQSFИYPGUIFQFSTPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF IPOPSJGJDQSFGJY Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNT


    UIF WBMVF Q PGUIF O Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    AHGHKB?B< LN??BQ CHMC>? I K 


    (JWFTUIFIPOPSJИDTVКYPGUIFQFSTPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF IPOPSJGJDTVGGJY Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNT


    UIF WBMVF Q PGUIF O Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    GB<DG:F>
    (JWFTUIFOJDLOBNFPGUIFQFSTPOPSPSHBOJ[BUJPO

    *HM> 0A>GB<DG:F>BLMA>=>L<KBIMBO>G:F>@BO>GBGLM>:=H?HKBG:==BMBHGMHMA>HG>
    ;>EHG@BG@MH:I>KLHG IE:<> HKMABG@ %M<:G:ELH;>NL>=MHLI><B?R:?:FBEB:K?HKFH?:
    IKHI>KG:F>LI><B[>=;RMA> ?G I HK G I IKHI>KMB>L

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF OJDLOBNF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    IAHMH
    (JWFTBQIPUPHSBQIPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFBO BCTPMVUF63- Q 

    
    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF QIPUP Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF
    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    ;=:R
    (JWFTUIFCJSUIEBUFPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFB WBMJEEBUFTUSJOH Q 

    "TJOHMFQSPQFSUZXJUIUIFOBNF CEBZ Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    :=K
    (JWFTUIFEFMJWFSZBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFBO JUFN Q XJUI[FSPPSNPSF UZQF Q QPTUPGGJDFCPY Q FYUFOEFEBEESFTT Q BOE
    TUSFFUBEESFTT Q QSPQFSUJFT BOEPQUJPOBMMZB MPDBMJUZ Q QSPQFSUZ PQUJPOBMMZB SFHJPO Q QSPQFSUZ
    PQUJPOBMMZB QPTUBMDPEF Q QSPQFSUZ BOEPQUJPOBMMZB DPVOUSZOBNF Q QSPQFSUZ

    *GOP UZQF Q QSPQFSUJFTBSFQSFTFOUXJUIJOBO JUFN Q UIBUGPSNTUIF WBMVF Q PGBO BES Q QSPQFSUZPGBO
    JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q UIFOUIF BEESFTTUZQFTUSJOHT Q JOUM
    QPTUBM QBSDFM BOE XPSL BSFJNQMJFE

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF BES Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    MRI> CHMC>? <?M K 


    (JWFTUIFUZQFPGEFMJWFSZBEESFTT

    5IF WBMVF Q NVTUCFUFYUUIBU XIFODPNQBSFEJOB DBTFTFOTJUJWF Q NBOOFS JTFRVBMUPPOFPGUIF BEESFTT
    UZQFTUSJOHT Q 

    8JUIJOFBDI JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q UIFSFNVTUCFOPNPSFUIBO


    POF BES Q QSPQFSUZ JUFN Q XJUIB UZQF Q QSPQFSUZXIPTFWBMVFJT QSFG Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF UZQF Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PG


    BO BES Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q CVUXJUIJOFBDI
    TVDI BES Q QSPQFSUZ JUFN Q UIFSFNVTUPOMZCFPOF UZQF Q QSPQFSUZQFSEJTUJODUWBMVF

    IHLM H??B<> ;HQ CHMC>? <?M K 


    (JWFTUIFQPTUPКDFCPYDPNQPOFOUPGUIFEFMJWFSZBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF QPTUPGGJDFCPY Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF


    WBMVF Q PGBO BES Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    >QM>G=>= :==K>LL CHMC>? <?M K 


    (JWFTBOBEEJUJPOBMDPNQPOFOUPGUIFEFMJWFSZBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF FYUFOEFEBEESFTT Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNT


    UIF WBMVF Q PGBO BES Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    LMK>>M :==K>LL CHMC>? <?M K 


    (JWFTUIFTUSFFUBEESFTTDPNQPOFOUPGUIFEFMJWFSZBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF TUSFFUBEESFTT Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF


    WBMVF Q PGBO BES Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    EH<:EBMR CHMC>? <?M K 


    (JWFTUIFMPDBMJUZDPNQPOFOU FHDJUZ
    PGUIFEFMJWFSZBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "TJOHMFQSPQFSUZXJUIUIFOBNF MPDBMJUZ Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PGBO
    BES Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    
    K>@BHG CHMC>? <?M K 
    (JWFTUIFSFHJPODPNQPOFOU FHTUBUFPSQSPWJODF
    PGUIFEFMJWFSZBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "TJOHMFQSPQFSUZXJUIUIFOBNF SFHJPO Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PGBO
    BES Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    IHLM:E <H=> CHMC>? <?M K 


    (JWFTUIFQPTUBMDPEFDPNQPOFOUPGUIFEFMJWFSZBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "TJOHMFQSPQFSUZXJUIUIFOBNF QPTUBMDPEF Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PG


    BO BES Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    <HNGMKR G:F> CHMC>? <?M K 


    (JWFTUIFDPVOUSZOBNFDPNQPOFOUPGUIFEFMJWFSZBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "TJOHMFQSPQFSUZXJUIUIFOBNF DPVOUSZOBNF Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PG


    BO BES Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    E:;>E
    (JWFTUIFGPSNBUUFEUFYUDPSSFTQPOEJOHUPUIFEFMJWFSZBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFFJUIFSUFYUPSBO JUFN Q XJUI[FSPPSNPSF UZQF Q QSPQFSUJFTBOEFYBDUMZPOF WBMVF Q
    QSPQFSUZ

    *GOP UZQF Q QSPQFSUJFTBSFQSFTFOUXJUIJOBO JUFN Q UIBUGPSNTUIF WBMVF Q PGB MBCFM Q QSPQFSUZPGBO
    JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q PSJGUIF WBMVF Q PGTVDIB MBCFM Q
    QSPQFSUZJTUFYU UIFOUIF BEESFTTUZQFTUSJOHT Q JOUM QPTUBM QBSDFM BOE XPSL BSFJNQMJFE

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF MBCFM Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    MRI> CHMC>? G<=@G K 


    (JWFTUIFUZQFPGEFMJWFSZBEESFTT

    5IF WBMVF Q NVTUCFUFYUUIBU XIFODPNQBSFEJOB DBTFTFOTJUJWF Q NBOOFS JTFRVBMUPPOFPGUIF BEESFTT
    UZQFTUSJOHT Q 

    8JUIJOFBDI JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q UIFSFNVTUCFOPNPSFUIBO


    POF MBCFM Q QSPQFSUZ JUFN Q XJUIB UZQF Q QSPQFSUZXIPTFWBMVFJT QSFG Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF UZQF Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PGB
    MBCFM Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q CVUXJUIJOFBDI
    TVDI MBCFM Q QSPQFSUZ JUFN Q UIFSFNVTUPOMZCFPOF UZQF Q QSPQFSUZQFSEJTUJODUWBMVF

    O:EN> CHMC>? G<=@G K 


    (JWFTUIFBDUVBMGPSNBUUFEUFYUDPSSFTQPOEJOHUPUIFEFMJWFSZBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    &YBDUMZPOFQSPQFSUZXJUIUIFOBNF WBMVF Q NVTUCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PGB
    MBCFM Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    M>E
    (JWFTUIFUFMFQIPOFOVNCFSPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFFJUIFSUFYUUIBUDBOCFJOUFSQSFUFEBTBUFMFQIPOFOVNCFSBTEFИOFEJOUIF$$*55


    TQFDJИDBUJPOT&BOE9 PSBO JUFN Q XJUI[FSPPSNPSF UZQF Q QSPQFSUJFTBOEFYBDUMZPOF WBMVF Q
    QSPQFSUZ <&> Q <9> Q

    *GOP UZQF Q QSPQFSUJFTBSFQSFTFOUXJUIJOBO JUFN Q UIBUGPSNTUIF WBMVF Q PGB UFM Q QSPQFSUZPGBO
    JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q PSJGUIF WBMVF Q PGTVDIB UFM Q
    QSPQFSUZJTUFYU UIFOUIF UFMFQIPOFUZQFTUSJOH Q WPJDF JTJNQMJFE

    
    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF UFM Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF
    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    MRI> CHMC>? O@G K 


    (JWFTUIFUZQFPGUFMFQIPOFOVNCFS

    5IF WBMVF Q NVTUCFUFYUUIBU XIFODPNQBSFEJOB DBTFTFOTJUJWF Q NBOOFS JTFRVBMUPPOFPGUIF UFMFQIPOF
    UZQFTUSJOHT Q 

    8JUIJOFBDI JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q UIFSFNVTUCFOPNPSFUIBO


    POF UFM Q QSPQFSUZ JUFN Q XJUIB UZQF Q QSPQFSUZXIPTFWBMVFJT QSFG Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF UZQF Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PGB
    UFM Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q CVUXJUIJOFBDI
    TVDI UFM Q QSPQFSUZ JUFN Q UIFSFNVTUPOMZCFPOF UZQF Q QSPQFSUZQFSEJTUJODUWBMVF

    O:EN> CHMC>? O@G K 


    (JWFTUIFBDUVBMUFMFQIPOFOVNCFSPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYUUIBUDBOCFJOUFSQSFUFEBTBUFMFQIPOFOVNCFSBTEFИOFEJOUIF$$*55TQFDJИDBUJPOT


    &BOE9 <&> Q <9> Q

    &YBDUMZPOFQSPQFSUZXJUIUIFOBNF WBMVF Q NVTUCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PGB
    UFM Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    >F:BE
    (JWFTUIFFNBJMBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFFJUIFSUFYUPSBO JUFN Q XJUI[FSPPSNPSF UZQF Q QSPQFSUJFTBOEFYBDUMZPOF WBMVF Q
    QSPQFSUZ

    *GOP UZQF Q QSPQFSUJFTBSFQSFTFOUXJUIJOBO JUFN Q UIBUGPSNTUIF WBMVF Q PGBO FNBJM Q QSPQFSUZPGBO
    JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q PSJGUIF WBMVF Q PGTVDIBO FNBJM Q
    QSPQFSUZJTUFYU UIFOUIF FNBJMUZQFTUSJOH Q JOUFSOFU JTJNQMJFE

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF FNBJM Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    MRI> CHMC>? @H<DG K 


    (JWFTUIFUZQFPGFNBJMBEESFTT

    5IF WBMVF Q NVTUCFUFYUUIBU XIFODPNQBSFEJOB DBTFTFOTJUJWF Q NBOOFS JTFRVBMUPPOFPGUIF FNBJMUZQF
    TUSJOHT Q 

    8JUIJOFBDI JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q UIFSFNVTUCFOPNPSFUIBO


    POF FNBJM Q QSPQFSUZ JUFN Q XJUIB UZQF Q QSPQFSUZXIPTFWBMVFJT QSFG Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF UZQF Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PG


    BO FNBJM Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q CVUXJUIJO
    FBDITVDI FNBJM Q QSPQFSUZ JUFN Q UIFSFNVTUPOMZCFPOF UZQF Q QSPQFSUZQFSEJTUJODUWBMVF

    O:EN> CHMC>? @H<DG K 


    (JWFTUIFBDUVBMFNBJMBEESFTTPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    &YBDUMZPOFQSPQFSUZXJUIUIFOBNF WBMVF Q NVTUCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PGBO
    FNBJM Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    F:BE>K
    (JWFTUIFOBNFPGUIFFNBJMTPGUXBSFVTFECZUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF NBJMFS Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    
    MS
    (JWFTUIFUJNF[POFPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYUBOENVTUNBUDIUIFGPMMPXJOHTZOUBY

     &JUIFSB6 #1-644*(/DIBSBDUFS
    PSB6 %):1)&/.*/64DIBSBDUFS 
    

     " WBMJEOPOOFHBUJWFJOUFHFS Q UIBUJTFYBDUMZUXPEJHJUTMPOHBOEUIBUSFQSFTFOUTBOVNCFSJOUIF


    SBOHF

     "6 "$0-0/DIBSBDUFS 
    

     " WBMJEOPOOFHBUJWFJOUFHFS Q UIBUJTFYBDUMZUXPEJHJUTMPOHBOEUIBUSFQSFTFOUTBOVNCFSJOUIF


    SBOHF

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF U[ Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    @>H
    (JWFTUIFHFPHSBQIJDBMQPTJUJPOPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYUBOENVTUNBUDIUIFGPMMPXJOHTZOUBY

     0QUJPOBMMZ FJUIFSB6 #1-644*(/DIBSBDUFS


    PSB6 %):1)&/.*/64DIBSBDUFS 
    

     0OFPSNPSFEJHJUTJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    

     0QUJPOBMMZ B6 &'6--4501DIBSBDUFS 


    GPMMPXFECZPOFPSNPSFEJHJUTJOUIFSBOHF6 
    %*(*5;&30 
    UP6 %*(*5/*/& 
    

     "6 #4&.*$0-0/DIBSBDUFS 
    

     0QUJPOBMMZ FJUIFSB6 #1-644*(/DIBSBDUFS


    PSB6 %):1)&/.*/64DIBSBDUFS 
    

     0OFPSNPSFEJHJUTJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    

     0QUJPOBMMZ B6 &'6--4501DIBSBDUFS 


    GPMMPXFECZPOFPSNPSFEJHJUTJOUIFSBOHF6 
    %*(*5;&30 
    UP6 %*(*5/*/& 
    

    5IFPQUJPOBMDPNQPOFOUTNBSLFEXJUIBOBTUFSJTL
    TIPVMECFJODMVEFE BOETIPVMEIBWFTJYEJHJUTFBDI

    *HM> 0A>O:EN>LI><B[>LE:MBMN=>:G=EHG@BMN=> BGMA:MHK=>KB > (0(+*HK=>KBG@ BG


    =><BF:E=>@K>>L 0A>EHG@BMN=>K>IK>L>GMLMA>EH<:MBHG>:LM:G=P>LMH?MA>IKBF>F>KB=B:G
    :L:IHLBMBO>HKG>@:MBO>K>:EGNF;>K K>LI><MBO>ER 0A>E:MBMN=>K>IK>L>GMLMA>EH<:MBHG
    GHKMA:G=LHNMAH?MA>>JN:MHK:L:IHLBMBO>HKG>@:MBO>K>:EGNF;>K K>LI><MBO>ER

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF HFP Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    MBME>
    (JWFTUIFKPCUJUMF GVODUJPOBMQPTJUJPOPSGVODUJPOPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF UJUMF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    KHE>
    (JWFTUIFSPMF PDDVQBUJPO PSCVTJOFTTDBUFHPSZPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF SPMF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    EH@H
    (JWFTUIFMPHPPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFBO BCTPMVUF63- Q 

    
    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF MPHP Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF
    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    :@>GM
    (JWFTUIFDPOUBDUJOGPSNBUJPOPGBOPUIFSQFSTPOXIPXJMMBDUPOCFIBMGPGUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFFJUIFSBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q PSBO
    BCTPMVUF63- Q PSUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF BHFOU Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    HK@
    (JWFTUIFOBNFBOEVOJUTPGUIFPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFFJUIFSUFYUPSBO JUFN Q XJUIPOF PSHBOJ[BUJPOOBNF Q QSPQFSUZBOE[FSPPSNPSF
    PSHBOJ[BUJPOVOJU QSPQFSUJFT

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF PSH Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    HK@:GBS:MBHG G:F> CHMC>? JMB K 


    (JWFTUIFOBNFPGUIFPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    &YBDUMZPOFQSPQFSUZXJUIUIFOBNF PSHBOJ[BUJPOOBNF Q NVTUCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF


    WBMVF Q PGBO PSH Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    HK@:GBS:MBHG NGBM CHMC>? JMB K 


    (JWFTUIFOBNFPGUIFPSHBOJ[BUJPOVOJU

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF PSHBOJ[BUJPOVOJU Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNT


    UIF WBMVF Q PGUIF PSH Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    <:M>@HKB>L
    (JWFTUIFOBNFPGBDBUFHPSZPSUBHUIBUUIFQFSTPOPSPSHBOJ[BUJPODPVMECFDMBTTJИFEBT

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF DBUFHPSJFT Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    GHM>
    (JWFTTVQQMFNFOUBMJOGPSNBUJPOPSBDPNNFOUBCPVUUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF OPUF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    K>O
    (JWFTUIFSFWJTJPOEBUFBOEUJNFPGUIFDPOUBDUJOGPSNBUJPO

    5IF WBMVF Q NVTUCFUFYUUIBUJTB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    *HM> 0A>O:EN>=BLMBG@NBLA>LMA><NKK>GMK>OBLBHGH?MA>BG?HKF:MBHG?HKHMA>KK>G=BMBHGLH?
    MA>BG?HKF:MBHG

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF SFW Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    LHKM LMKBG@
    (JWFTUIFTUSJOHUPCFVTFEGPSTPSUJOHUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYU

    
    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF TPSUTUSJOH Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF
    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    LHNG=
    (JWFTBTPVOEИMFSFMBUJOHUPUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFBO BCTPMVUF63- Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF TPVOE Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    NKE
    (JWFTB 63- Q SFMBUJOHUPUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFBO BCTPMVUF63- Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF VSM Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    <E:LL
    (JWFTUIFBDDFTTDMBTTJИDBUJPOPGUIFJOGPSNBUJPOSFHBSEJOHUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFUFYUXJUIPOFPGUIFGPMMPXJOHWBMVFT

    Ǭ QVCMJD
    Ǭ QSJWBUF
    Ǭ DPOGJEFOUJBM

    [3;LHCHA 0ABLBLF>K>ER:=OBLHKR:G=<:GGHM;><HGLB=>K>=:<HG[=>GMB:EBMRF>:LNK>

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF DMBTT Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    BFII
    (JWFTB 63- Q GPSJOTUBOUNFTTBHJOHBOEQSFTFODFQSPUPDPMDPNNVOJDBUJPOTXJUIUIFQFSTPOPSPSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFFJUIFSBO BCTPMVUF63- Q PSBO JUFN Q XJUI[FSPPSNPSF UZQF Q QSPQFSUJFTBOEFYBDUMZ
    POF WBMVF Q QSPQFSUZ

    *GOP UZQF Q QSPQFSUJFTBSFQSFTFOUXJUIJOBO JUFN Q UIBUGPSNTUIF WBMVF Q PGBO JNQQ Q QSPQFSUZPGBO
    JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q PSJGUIF WBMVF Q PGTVDIBO JNQQ Q
    QSPQFSUZJTBO BCTPMVUF63- Q UIFOOP *.11UZQFTUSJOHT Q BSFJNQMJFE

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF JNQQ Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    MRI> CHMC>? DHKK K 


    (JWFTUIFJOUFOEFEVTFPGUIF*.11 63- Q 

    5IF WBMVF Q NVTUCFUFYUUIBU XIFODPNQBSFEJOB DBTFTFOTJUJWF Q NBOOFS JTFRVBMUPPOFPGUIF *.11UZQF
    TUSJOHT Q 

    8JUIJOFBDI JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q UIFSFNVTUCFOPNPSFUIBO


    POF JNQQ Q QSPQFSUZ JUFN Q XJUIB UZQF Q QSPQFSUZXIPTFWBMVFJT QSFG Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF UZQF Q NBZCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PG


    BO JNQQ Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q CVUXJUIJOFBDI
    TVDI JNQQ Q QSPQFSUZ JUFN Q UIFSFNVTUPOMZCFPOF UZQF Q QSPQFSUZQFSEJTUJODUWBMVF

    O:EN> CHMC>? DHKK K 


    (JWFTUIFBDUVBM 63- Q GPSJOTUBOUNFTTBHJOHBOEQSFTFODFQSPUPDPMDPNNVOJDBUJPOTXJUIUIFQFSTPOPS
    PSHBOJ[BUJPO

    5IF WBMVF Q NVTUCFBO BCTPMVUF63- Q 

    &YBDUMZPOFQSPQFSUZXJUIUIFOBNF WBMVF Q NVTUCFQSFTFOUXJUIJOUIF JUFN Q UIBUGPSNTUIF WBMVF Q PGBO
    JNQQ Q QSPQFSUZPGBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q 

    5IF ;>>L?MMNSJ?MNLCHAM BSF

    
    =HF
    *OEJDBUFTBEPNFTUJDEFMJWFSZBEESFTT

    BGME
    *OEJDBUFTBOJOUFSOBUJPOBMEFMJWFSZBEESFTT

    IHLM:E
    *OEJDBUFTBQPTUBMEFMJWFSZBEESFTT

    I:K<>E
    *OEJDBUFTBQBSDFMEFMJWFSZBEESFTT

    AHF>
    *OEJDBUFTBSFTJEFOUJBMEFMJWFSZBEESFTT

    PHKD
    *OEJDBUFTBEFMJWFSZBEESFTTGPSBQMBDFPGXPSL

    IK>?
    *OEJDBUFTUIFQSFGFSSFEEFMJWFSZBEESFTTXIFONVMUJQMFBEESFTTFTBSFTQFDJИFE

    5IF N?F?JBIH?NSJ?MNLCHAM BSF

    AHF>
    *OEJDBUFTBSFTJEFOUJBMOVNCFS

    FL@
    *OEJDBUFTBUFMFQIPOFOVNCFSXJUIWPJDFNFTTBHJOHTVQQPSU

    PHKD
    *OEJDBUFTBUFMFQIPOFOVNCFSGPSBQMBDFPGXPSL

    OHB<>
    *OEJDBUFTBWPJDFUFMFQIPOFOVNCFS

    ?:Q
    *OEJDBUFTBGBDTJNJMFUFMFQIPOFOVNCFS

    <>EE
    *OEJDBUFTBDFMMVMBSUFMFQIPOFOVNCFS

    OB=>H
    *OEJDBUFTBWJEFPDPOGFSFODJOHUFMFQIPOFOVNCFS

    I:@>K
    *OEJDBUFTBQBHJOHEFWJDFUFMFQIPOFOVNCFS

    ;;L
    *OEJDBUFTBCVMMFUJOCPBSETZTUFNUFMFQIPOFOVNCFS

    FH=>F
    *OEJDBUFTB.0%&.DPOOFDUFEUFMFQIPOFOVNCFS

    <:K
    *OEJDBUFTBDBSQIPOFUFMFQIPOFOVNCFS

    BL=G
    *OEJDBUFTBO*4%/TFSWJDFUFMFQIPOFOVNCFS

    I<L
    *OEJDBUFTBQFSTPOBMDPNNVOJDBUJPOTFSWJDFTUFMFQIPOFOVNCFS

    IK>?
    *OEJDBUFTUIFQSFGFSSFEUFMFQIPOFOVNCFSXIFONVMUJQMFUFMFQIPOFOVNCFSTBSFTQFDJИFE

    5IF ? G;CFNSJ?MNLCHAM BSF

    
    BGM>KG>M
    *OEJDBUFTBO*OUFSOFUFNBJMBEESFTT

    Q
    *OEJDBUFTB9BEESFTTJOHUZQF

    IK>?
    *OEJDBUFTUIFQSFGFSSFEFNBJMBEESFTTXIFONVMUJQMFFNBJMBEESFTTFTBSFTQFDJИFE

    5IF %),,NSJ?MNLCHAM BSF

    I>KLHG:E
    ;NLBG>LL
    *OEJDBUFTUIFUZQFPGDPNNVOJDBUJPOGPSXIJDIUIJT*.11 63- Q JTBQQSPQSJBUF

    AHF>
    PHKD
    FH;BE>
    *OEJDBUFTUIFMPDBUJPOPGBEFWJDFBTTPDJBUFEXJUIUIJT*.11 63- Q 

    IK>?
    *OEJDBUFTUIFQSFGFSSFEBEESFTTXIFONVMUJQMF*.11 63- Q TBSFTQFDJИFE

        IHP?LMCIHNIP;L>

    (JWFOBMJTUPGOPEFT =>34B JOB %PDVNFOU Q BVTFSBHFOUNVTUSVOUIFGPMMPXJOHBMHPSJUINUP ?RNL;=N;HSP;L>


    >;N;L?JL?M?HN?><SNBIM?HI>?M POMZUIFИSTUW$BSEJTSFUVSOFE
    

     *GOPOFPGUIFOPEFTJO =>34B BSF JUFNT Q XJUIUIF JUFNUZQF Q IUUQNJDSPGPSNBUTPSHQSPGJMF


    IDBSE Q UIFOUIFSFJTOPW$BSE"CPSUUIFBMHPSJUIN SFUVSOJOHOPUIJOH

     -FU =>34 CFUIFИSTUOPEFJO =>34B UIBUJTBO JUFN Q XJUIUIF JUFNUZQF Q IUUQNJDSPGPSNBUTPSH
    QSPGJMFIDBSE Q 

     -FU >DC?DC CFBOFNQUZTUSJOH

     "EEBW$BSEMJOF Q XJUIUIFUZQF#&(*/BOEUIFWBMVF7$"3%UP >DC?DC

     "EEBW$BSEMJOF Q XJUIUIFUZQF130'*-&BOEUIFWBMVF7$"3%UP >DC?DC

     "EEBW$BSEMJOF Q XJUIUIFUZQF7&34*0/BOEUIFWBMVFUP >DC?DC

     "EEBW$BSEMJOF Q XJUIUIFUZQF4063$&BOEUIFSFTVMUPG FTDBQJOHUIFW$BSEUFYUTUSJOH Q UIBUJT UIF


    EPDVNFOUTDVSSFOUBEESFTT Q BTUIFWBMVFUP >DC?DC

     *G UIF UJUMF FMFNFOU Q JTOPUOVMM BEEBW$BSEMJOF Q XJUIUIFUZQF/".&BOEXJUIUIFSFTVMUPG FTDBQJOH


    UIFW$BSEUFYUTUSJOH Q PCUBJOFEGSPNUIF UFYU$POUFOU Q PG UIF UJUMF FMFNFOU Q BTUIFWBMVFUP >DC?DC

     *G =>34 IBTB HMPCBMJEFOUJИFS Q BEEBW$BSEMJOF Q XJUIUIFUZQF6*%BOEXJUIUIFSFTVMUPG FTDBQJOHUIF


    W$BSEUFYUTUSJOH Q PGUIBU HMPCBMJEFOUJИFS Q BTUIFWBMVFUP >DC?DC

     'PSFBDIFMFNFOU 4;4<4=C UIBUJT BQSPQFSUZPGUIFJUFN Q =>34GPSFBDIOBNF =0<4 JO 4;4<4=CT QSPQFSUZ
    OBNFT Q SVOUIFGPMMPXJOHTVCTUFQT

     -FU ?0A0<4C4AB CFBOFNQUZTFUPGOBNFWBMVFQBJST

     3VOUIFBQQSPQSJBUFTFUPGTVCTUFQTGSPNUIFGPMMPXJOHMJTU5IFTUFQTXJMMTFUBWBSJBCMF E0;D4
    XIJDIJTVTFEJOUIFOFYUTUFQ

    %@NB?JLIJ?LNSM P;FO? J CM;H CN?G J LN;BM>F ;H> G:F> CM I K

     -FU E0;D4 CFUIFFNQUZTUSJOH

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE


    GBNJMZOBNF Q JO BD18C4<

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP E0;D4

    
     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE
    HJWFOOBNF Q JO BD18C4<

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP E0;D4

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE


    BEEJUJPOBMOBNF Q JO BD18C4<

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP E0;D4

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE


    IPOPSJGJDQSFGJY Q JO BD18C4<

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP E0;D4

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE


    IPOPSJGJDTVGGJY Q JO BD18C4<

    %@NB?JLIJ?LNSM P;FO? J CM;H CN?G J LN;BM>F ;H> G:F> CM <?M K

     -FU E0;D4 CFUIFFNQUZTUSJOH

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHW$BSETVCQSPQFSUJFT Q OBNFE QPTU


    PGGJDFCPY Q JO BD18C4<

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP E0;D4

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHW$BSETVCQSPQFSUJFT Q OBNFE FYUFOEFE


    BEESFTT Q JO BD18C4<

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP E0;D4

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHW$BSETVCQSPQFSUJFT Q OBNFE TUSFFU


    BEESFTT Q JO BD18C4<

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP E0;D4

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE


    MPDBMJUZ Q JO BD18C4<

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP E0;D4

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE


    SFHJPO Q JO BD18C4<

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 


    UP E0;D4

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE


    QPTUBMDPEF Q JO BD18C4<

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 


    UP E0;D4

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE


    DPVOUSZOBNF Q JO BD18C4<

     *GUIFSFJTBQSPQFSUZOBNFE UZQF Q JO BD18C4< BOEUIFИSTUTVDIQSPQFSUZIBTB


    WBMVF Q UIBUJTOPUBO JUFN Q BOEXIPTFWBMVFDPOTJTUTPOMZPG BMQIBOVNFSJD
    "4$**DIBSBDUFST Q UIFOBEEBQBSBNFUFSOBNFE5:1&XIPTFWBMVFJTUIF
    WBMVF Q PGUIBUQSPQFSUZUP ?0A0<4C4AB

    %@NB?JLIJ?LNSM P;FO? J CM;H CN?G J LN;BM>F ;H> G:F> CM JMB K

     -FU E0;D4 CFUIFFNQUZTUSJOH

     "QQFOEUP E0;D4 UIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE


    PSHBOJ[BUJPOOBNF Q JO BD18C4<

     'PSFBDIQSPQFSUZOBNFE PSHBOJ[BUJPOVOJU Q JO BD18C4< SVOUIFGPMMPXJOH


    TUFQT

     *GUIF WBMVF Q PGUIFQSPQFSUZJTBO JUFN Q UIFOTLJQUIJTQSPQFSUZ

    
     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP E0;D4

     "QQFOEUIFSFTVMUPG FTDBQJOHUIFW$BSEUFYUTUSJOH Q HJWFOCZUIF


    WBMVF Q PGUIFQSPQFSUZUP E0;D4

    %@NB?JLIJ?LNSM P;FO? J CM;H CN?G J LN;BM>F QCNBNB? CN?GNSJ? J
    COOKHD>MJAJMH<ON JMBKMJADG@C><M? K ;H> G:F> CM <B@IO K

     -FU E0;D4 CFUIFSFTVMUPG FTDBQJOHUIFW$BSEUFYUTUSJOH Q PCUBJOFEGSPN


    FYUSBDUJOHBW$BSE Q GSPNUIFFMFNFOUUIBUSFQSFTFOUT BD18C4<

     "EEBQBSBNFUFSOBNFE7"-6&XIPTFWBMVFJT7$"3%UP ?0A0<4C4AB

    %@NB?JLIJ?LNSM P;FO? J CM;H CN?G J ;H> G:F> CMHIH?I@NB?;<IP?

     -FU E0;D4 CFUIFSFTVMUPG DPMMFDUJOHUIFИSTUW$BSETVCQSPQFSUZ Q OBNFE WBMVF JO


    BD18C4<

     *GUIFSFJTBQSPQFSUZOBNFE UZQF JO BD18C4< BOEUIFИSTUTVDIQSPQFSUZIBTB


    WBMVF Q UIBUJTOPUBO JUFN Q BOEXIPTFWBMVFDPOTJTUTPOMZPG BMQIBOVNFSJD
    "4$**DIBSBDUFST Q UIFOBEEBQBSBNFUFSOBNFE5:1&XIPTFWBMVFJTUIF
    WBMVF Q PGUIBUQSPQFSUZUP ?0A0<4C4AB

    +NB?LQCM?NB?JLIJ?LNSM P;FO? J CMHIN;H CN?G J 

     -FU E0;D4 CFUIFQSPQFSUZT WBMVF Q 

     *G 4;4<4=C JTPOFPGUIF 63-QSPQFSUZFMFNFOUT Q BEEBQBSBNFUFSXJUIUIFOBNF


    7"-6&BOEUIFWBMVF63*UP ?0A0<4C4AB

     0UIFSXJTF JG 4;4<4=C JTB UJNF Q FMFNFOUBOEUIF E0;D4 JTB WBMJEEBUFTUSJOH Q
    BEEBQBSBNFUFSXJUIUIFOBNF7"-6&BOEUIFWBMVF%"5&UP ?0A0<4C4AB

     0UIFSXJTF JG 4;4<4=C JTB UJNF Q FMFNFOUBOEUIF E0;D4 JTB WBMJEHMPCBMEBUFBOE
    UJNFTUSJOH Q BEEBQBSBNFUFSXJUIUIFOBNF7"-6&BOEUIFWBMVF%"5&5*.&
    UP ?0A0<4C4AB

     1SFИYFWFSZ6 $3&7&34&40-*%64DIBSBDUFS =
    JO E0;D4 XJUIBOPUIFS6 $
    3&7&34&40-*%64DIBSBDUFS =
    

     1SFИYFWFSZ6 $$0.."DIBSBDUFS
    JO E0;D4 XJUIB6 $3&7&34&
    40-*%64DIBSBDUFS =
    

     6OMFTT =0<4 JT HFP Q QSFИYFWFSZ6 #4&.*$0-0/DIBSBDUFS 


    JO E0;D4 XJUI
    B6 $3&7&34&40-*%64DIBSBDUFS =
    

     3FQMBDFFWFSZ6 %$"33*"(&3&563/6 "-*/&'&&%DIBSBDUFSQBJS


    $3-'
    JO E0;D4 XJUIB6 $3&7&34&40-*%64DIBSBDUFS =
    GPMMPXFECZB
    6 &-"5*/4."---&55&3/DIBSBDUFS O
    

     3FQMBDFFWFSZSFNBJOJOH6 %$"33*"(&3&563/ $3
    PS6 "-*/&'&&%
    -'
    DIBSBDUFSJO E0;D4 XJUIB6 $3&7&34&40-*%64DIBSBDUFS =
    GPMMPXFECZ
    B6 &-"5*/4."---&55&3/DIBSBDUFS O
    

     "EEBW$BSEMJOF Q XJUIUIFUZQF =0<4 UIFQBSBNFUFST ?0A0<4C4AB BOEUIFWBMVF E0;D4 UP


    >DC?DC

     "EEBW$BSEMJOF Q XJUIUIFUZQF&/%BOEUIFWBMVF7$"3%UP >DC?DC

    8IFOUIFBCPWFBMHPSJUINTBZTUIBUUIFVTFSBHFOUJTUP ;>>;P;L>FCH? DPOTJTUJOHPGBUZQF CH?4 PQUJPOBMMZTPNF


    QBSBNFUFST BOEBWBMVF E0;D4 UPBTUSJOH >DC?DC JUNVTUSVOUIFGPMMPXJOHTUFQT

     -FU ;8=4 CFBOFNQUZTUSJOH

     "QQFOE CH?4 DPOWFSUFEUP"4$**VQQFSDBTF Q UP ;8=4

     *GUIFSFBSFBOZQBSBNFUFST UIFOGPSFBDIQBSBNFUFS JOUIFPSEFSUIBUUIFZXFSFBEEFE SVOUIFTFTVCTUFQT

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP ;8=4

     "QQFOEUIFQBSBNFUFSTOBNFUP ;8=4

    
     "QQFOEB6 %&26"-44*(/DIBSBDUFS 
    UP ;8=4

     "QQFOEUIFQBSBNFUFSTWBMVFUP ;8=4

     "QQFOEB6 "$0-0/DIBSBDUFS 
    UP ;8=4

     "QQFOE E0;D4 UP ;8=4

     -FU <0G8<D<;4=6C7 CF

     *GBOEXIJMF ;8=4 JTMPOHFSUIBO <0G8<D<;4=6C7 6OJDPEFDPEFQPJOUTMPOH SVOUIFGPMMPXJOHTVCTUFQT

     "QQFOEUIFИSTU <0G8<D<;4=6C7 6OJDPEFDPEFQPJOUTPG ;8=4 UP >DC?DC

     3FNPWFUIFИSTU <0G8<D<;4=6C7 6OJDPEFDPEFQPJOUTGSPN ;8=4

     "QQFOEB6 %$"33*"(&3&563/DIBSBDUFS $3
    UP >DC?DC

     "QQFOEB6 "-*/&'&&%DIBSBDUFS -'


    UP >DC?DC

     "QQFOEB6 41"$&DIBSBDUFSUP >DC?DC

     -FU <0G8<D<;4=6C7 CF

     "QQFOE XIBUSFNBJOTPG
    ;8=4 UP >DC?DC

     "QQFOEB6 %$"33*"(&3&563/DIBSBDUFS $3
    UP >DC?DC

     "QQFOEB6 "-*/&'&&%DIBSBDUFS -'


    UP >DC?DC

    8IFOUIFTUFQTBCPWFSFRVJSFUIFVTFSBHFOUUPPCUBJOUIFSFTVMUPG =IFF?=NCHAP;L>MO<JLIJ?LNC?M OBNFE


    BD1=0<4 JO BD18C4< UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     -FU E0;D4 CFUIFFNQUZTUSJOH

     'PSFBDIQSPQFSUZOBNFE BD1=0<4 JOUIFJUFN BD18C4< SVOUIFGPMMPXJOHTVCTUFQT

     *GUIF WBMVF Q PGUIFQSPQFSUZJTJUTFMGBO JUFN Q UIFOTLJQUIJTQSPQFSUZ

     *GUIJTJTOPUUIFИSTUQSPQFSUZOBNFE BD1=0<4 JO BD18C4< JHOPSJOHBOZUIBUXFSFTLJQQFECZUIF


    QSFWJPVTTUFQ
    UIFOBQQFOEB6 $$0.."DIBSBDUFS
    UP E0;D4

     "QQFOEUIFSFTVMUPG FTDBQJOHUIFW$BSEUFYUTUSJOH Q HJWFOCZUIF WBMVF Q PGUIFQSPQFSUZUP


    E0;D4

     3FUVSO E0;D4

    8IFOUIFTUFQTBCPWFSFRVJSFUIFVTFSBHFOUUPPCUBJOUIFSFTVMUPG =IFF?=NCHANB?]LMNP;L>MO<JLIJ?LNS OBNFE


    BD1=0<4 JO BD18C4< UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     *GUIFSFBSFOPQSPQFSUJFTOBNFE BD1=0<4 JO BD18C4< UIFOBCPSUUIFTFTVCTUFQT SFUVSOJOHUIFFNQUZTUSJOH

     *GUIF WBMVF Q PGUIFИSTUQSPQFSUZOBNFE BD1=0<4 JO BD18C4< JTBO JUFN Q UIFOBCPSUUIFTFTVCTUFQT
    SFUVSOJOHUIFFNQUZTUSJOH

     3FUVSOUIFSFTVMUPG FTDBQJOHUIFW$BSEUFYUTUSJOH Q HJWFOCZUIF WBMVF Q PGUIFИSTUQSPQFSUZOBNFE


    BD1=0<4 JO BD18C4<

    8IFOUIFBCPWFBMHPSJUINTTBZUIFVTFSBHFOUJTUP ?M=;J?NB?P;L>N?RNMNLCHA E0;D4 UIFVTFSBHFOUNVTUVTF


    UIFGPMMPXJOHTUFQT

     1SFИYFWFSZ6 $3&7&34&40-*%64DIBSBDUFS =
    JO E0;D4 XJUIBOPUIFS6 $3&7&34&40-*%64
    DIBSBDUFS =
    

     1SFИYFWFSZ6 $$0.."DIBSBDUFS
    JO E0;D4 XJUIB6 $3&7&34&40-*%64DIBSBDUFS =
    

     1SFИYFWFSZ6 #4&.*$0-0/DIBSBDUFS 
    JO E0;D4 XJUIB6 $3&7&34&40-*%64DIBSBDUFS =
    

     3FQMBDFFWFSZ6 %$"33*"(&3&563/6 "-*/&'&&%DIBSBDUFSQBJS $3-'


    JO E0;D4 XJUIB6 $
    3&7&34&40-*%64DIBSBDUFS =
    GPMMPXFECZB6 &-"5*/4."---&55&3/DIBSBDUFS O
    

     3FQMBDFFWFSZSFNBJOJOH6 %$"33*"(&3&563/ $3
    PS6 "-*/&'&&% -'
    DIBSBDUFSJO E0;D4 XJUI
    B6 $3&7&34&40-*%64DIBSBDUFS =
    GPMMPXFECZB6 &-"5*/4."---&55&3/DIBSBDUFS O
    

    
     3FUVSOUIFNVUBUFE E0;D4

    *HM> 0ABL:E@HKBMAF<:G@>G>K:M>BGO:EB=O:K=HNMINM B?MA>BGINM=H>LGHM<HG?HKFMHMA>KNE>L


    =>L<KB;>=?HKMA> AMMIFB<KH?HKF:ML HK@IKH?BE>A<:K= I BM>FMRI> I :G= =>[G>=IKHI>KMR
    G:F>L I

        !R;GJF?M

    *78BB42C8>=8B=>==>A<0C8E4

    )FSFJTBMPOHFYBNQMFW$BSEGPSBИDUJPOBMDIBSBDUFSDBMMFE+BDL#BVFS

    TFDUJPOJEKBDLJUFNTDPQFJUFNUZQFIUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE
    IJUFNQSPQGO+BDL#BVFSI
    EJWJUFNQSPQO
    NFUBJUFNQSPQHJWFOOBNFDPOUFOU+BDL
    NFUBJUFNQSPQGBNJMZOBNFDPOUFOU#BVFS
    EJW
    JNHJUFNQSPQQIPUPBMUTSDKBDLCBVFSKQH
    QJUFNQSPQPSHJUFNTDPQF
    TQBOJUFNQSPQPSHBOJ[BUJPOOBNF$PVOUFS5FSSPSJTU6OJUTQBO
    TQBOJUFNQSPQPSHBOJ[BUJPOVOJU-PT"OHFMFT%JWJTJPOTQBO

    Q
    Q
    TQBOJUFNQSPQBESJUFNTDPQF
    TQBOJUFNQSPQTUSFFUBEESFTT81JDP#MWETQBOCS
    TQBOJUFNQSPQMPDBMJUZ-PT"OHFMFTTQBO
    TQBOJUFNQSPQSFHJPO$"TQBO
    TQBOJUFNQSPQQPTUBMDPEFTQBOCS
    TQBOJUFNQSPQDPVOUSZOBNF6OJUFE4UBUFTTQBOCS
    TQBO
    TQBOJUFNQSPQHFPTQBO
    Q
    I"TTPSUFE$POUBDU.FUIPETI
    VM
    MJJUFNQSPQUFMJUFNTDPQF
    TQBOJUFNQSPQWBMVF  
    TQBOTQBOJUFNQSPQUZQFXPSLTQBO
    NFUBJUFNQSPQUZQFDPOUFOUQSFG
    MJ
    MJBJUFNQSPQVSMISFGIUUQFOXJLJQFEJBPSHXJLJ+BDL@#BVFS*NPO
    8JLJQFEJBB
    TPZPVDBOMFBWFBNFTTBHFPONZVTFSUBMLQBHFMJ
    MJBJUFNQSPQVSMISFGIUUQXXXKBDLCBVFSGBDUTDPN+BDL#BVFS'BDUTBMJ
    MJJUFNQSPQFNBJMB
    ISFGNBJMUPKCBVFS!MBDUVHPWJOWBMJEKCBVFS!MBDUVHPWJOWBMJEBMJ
    MJJUFNQSPQUFMJUFNTDPQF
    TQBOJUFNQSPQWBMVF  
    TQBOTQBO
    NFUBJUFNQSPQUZQFDPOUFOUDFMMNPCJMFQIPOFTQBO
    MJ
    VM
    QJUFNQSPQOPUF*G*NPVUJOUIFGJFME ZPVNBZCFCFUUFSPGGDPOUBDUJOHTQBO
    JUFNQSPQBHFOUJUFNTDPQFJUFNUZQFIUUQNJDSPGPSNBUTPSHQSPGJMFIDBSEB
    JUFNQSPQFNBJMISFGNBJMUPDPCSJBO!MBDUVHPWJOWBMJETQBO
    JUFNQSPQGOTQBOJUFNQSPQOJUFNTDPQFTQBO
    JUFNQSPQHJWFOOBNF$IMPFTQBOTQBO
    JUFNQSPQGBNJMZOBNF0#SJBOTQBOTQBOTQBOBTQBO
    JGJUTBCPVUXPSL PSBTLTQBOJUFNQSPQBHFOU5POZ"MNFJEBTQBO
    JGZPVSFJOUFSFTUFEJOUIF$56GJWFBTJEFGPPUCBMMUFBNXFSFUSZJOHUPHFUHPJOHQ
    JOTEBUFUJNF5 
    TQBOJUFNQSPQSFWJUFNTDPQF
    NFUBJUFNQSPQUZQFDPOUFOUEBUFUJNF
    NFUBJUFNQSPQWBMVFDPOUFOU5 
    TQBO
    QJUFNQSPQUFMJUFNTDPQFTUSPOH6QEBUFTUSPOH
    .ZOFXTQBOJUFNQSPQUZQFIPNFTQBOQIPOFOVNCFSJT
    TQBOJUFNQSPQWBMVFTQBOQ

    
    JOT
    TFDUJPO

    5IFPEEMJOFXSBQQJOHJTOFFEFECFDBVTFOFXMJOFTBSFNFBOJOHGVMJONJDSPEBUBOFXMJOFTXPVMECFQSFTFSWFEJO
    BDPOWFSTJPOUP GPSFYBNQMF UIFW$BSEGPSNBU

    5IJTFYBNQMFTIPXTBTJUFTDPOUBDUEFUBJMT VTJOHUIF BEESFTT Q FMFNFOU


    DPOUBJOJOHBOBEESFTTXJUIUXP
    TUSFFUDPNQPOFOUT

    BEESFTTJUFNTDPQFJUFNUZQFIUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE
    TUSPOHJUFNQSPQGOTQBOJUFNQSPQOTQBOJUFNQSPQHJWFOOBNF"MGSFETQBO
    TQBOJUFNQSPQGBNJMZOBNF1FSTPOTQBOTQBOTUSPOHCS
    TQBOJUFNQSPQBESJUFNTDPQF
    TQBOJUFNQSPQTUSFFUBEESFTT"NQIJUIFBUSF1BSLXBZTQBOCS
    TQBOJUFNQSPQTUSFFUBEESFTT#VJMEJOH 4FDPOE'MPPSTQBOCS
    TQBOJUFNQSPQMPDBMJUZ.PVOUBJO7JFXTQBO
    TQBOJUFNQSPQSFHJPO$"TQBOTQBOJUFNQSPQQPTUBMDPEFTQBO
    TQBO
    BEESFTT

    5IFW$BSEWPDBCVMBSZDBOCFVTFEUPKVTUNBSLVQQFPQMFTOBNFT

    TQBOJUFNTDPQFJUFNUZQFIUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE
    TQBOJUFNQSPQGOTQBOJUFNQSPQOTQBOJUFNQSPQHJWFOOBNF
    (FPSHFTQBOTQBOJUFNQSPQGBNJMZOBNF8BTIJOHUPOTQBOTQBO
    TQBOTQBO

    5IJTDSFBUFTBTJOHMFJUFNXJUIBUXPOBNFWBMVFQBJST POFXJUIUIFOBNFGOBOEUIFWBMVF(FPSHF
    8BTIJOHUPO BOEUIFPUIFSXJUIUIFOBNFOBOEBTFDPOEJUFNBTJUTWBMVF UIFTFDPOEJUFNIBWJOHUIFUXP
    OBNFWBMVFQBJSTHJWFOOBNFBOEGBNJMZOBNFXJUIUIFWBMVFT(FPSHFBOE8BTIJOHUPOSFTQFDUJWFMZ
    5IJTJTEFИOFEUPNBQUPUIFGPMMPXJOHW$BSE

    #&(*/7$"3%
    130'*-&7$"3%
    7&34*0/
    4063$&'-%&,+*++
    '/(FPSHF8BTIJOHUPO
    /8BTIJOHUPO(FPSHF
    &/%7$"3%

       P!P?HN

    "OJUFNXJUIUIF JUFNUZQF Q COOKHD>MJAJMH<ON JMBKMJADG@C><G@I?<MQ@Q@IO SFQSFTFOUTBOFWFOU

    5IJTWPDBCVMBSZ TVQQPSUTHMPCBMJEFOUJИFSTGPSJUFNT Q 

    5IFGPMMPXJOHBSFUIFUZQFT EFИOFEQSPQFSUZOBNFT Q 5IFZBSFCBTFEPOUIFWPDBCVMBSZEFИOFEJOUIFJ$BMFOEBS


    TQFDJИDBUJPO XIFSFNPSFJOGPSNBUJPOPOIPXUPJOUFSQSFUUIFWBMVFTDBOCFGPVOE <3'$> Q

    *HM> +GERMA>I:KMLH?MA>B:E>G=:KOH<:;NE:KRK>E:MBG@MH>O>GML:K>NL>=A>K>MABLOH<:;NE:KR
    <:GGHM>QIK>LL:<HFIE>M>B:E>G=:KBGLM:G<>

    :MM:<A
    (JWFTUIFBEESFTTPGBOBTTPDJBUFEEPDVNFOUGPSUIFFWFOU

    5IF WBMVF Q NVTUCFBO BCTPMVUF63- Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF BUUBDI Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    <:M>@HKB>L
    (JWFTUIFOBNFPGBDBUFHPSZPSUBHUIBUUIFFWFOUDPVMECFDMBTTJИFEBT

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF DBUFHPSJFT Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    
    <E:LL
    (JWFTUIFBDDFTTDMBTTJИDBUJPOPGUIFJOGPSNBUJPOSFHBSEJOHUIFFWFOU

    5IF WBMVF Q NVTUCFUFYUXJUIPOFPGUIFGPMMPXJOHWBMVFT

    Ǭ QVCMJD
    Ǭ QSJWBUF
    Ǭ DPOGJEFOUJBM

    [3;LHCHA 0ABLBLF>K>ER:=OBLHKR:G=<:GGHM;><HGLB=>K>=:<HG[=>GMB:EBMRF>:LNK>

    "TJOHMFQSPQFSUZXJUIUIFOBNF DMBTT Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    <HFF>GM
    (JWFTBDPNNFOUSFHBSEJOHUIFFWFOU

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF DPNNFOU Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    =>L<KBIMBHG
    (JWFTBEFUBJMFEEFTDSJQUJPOPGUIFFWFOU

    5IF WBMVF Q NVTUCFUFYU

    "TJOHMFQSPQFSUZXJUIUIFOBNF EFTDSJQUJPO Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    @>H
    (JWFTUIFHFPHSBQIJDBMQPTJUJPOPGUIFFWFOU

    5IF WBMVF Q NVTUCFUFYUBOENVTUNBUDIUIFGPMMPXJOHTZOUBY

     0QUJPOBMMZ FJUIFSB6 #1-644*(/DIBSBDUFS


    PSB6 %):1)&/.*/64DIBSBDUFS 
    

     0OFPSNPSFEJHJUTJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    

     0QUJPOBMMZ B6 &'6--4501DIBSBDUFS 


    GPMMPXFECZPOFPSNPSFEJHJUTJOUIFSBOHF6 
    %*(*5;&30 
    UP6 %*(*5/*/& 
    

     "6 #4&.*$0-0/DIBSBDUFS 
    

     0QUJPOBMMZ FJUIFSB6 #1-644*(/DIBSBDUFS


    PSB6 %):1)&/.*/64DIBSBDUFS 
    

     0OFPSNPSFEJHJUTJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    

     0QUJPOBMMZ B6 &'6--4501DIBSBDUFS 


    GPMMPXFECZPOFPSNPSFEJHJUTJOUIFSBOHF6 
    %*(*5;&30 
    UP6 %*(*5/*/& 
    

    5IFPQUJPOBMDPNQPOFOUTNBSLFEXJUIBOBTUFSJTL
    TIPVMECFJODMVEFE BOETIPVMEIBWFTJYEJHJUTFBDI

    *HM> 0A>O:EN>LI><B[>LE:MBMN=>:G=EHG@BMN=> BGMA:MHK=>KB > (0(+*HK=>KBG@ BG


    =><BF:E=>@K>>L 0A>EHG@BMN=>K>IK>L>GMLMA>EH<:MBHG>:LM:G=P>LMH?MA>IKBF>F>KB=B:G
    :L:IHLBMBO>HKG>@:MBO>K>:EGNF;>K K>LI><MBO>ER 0A>E:MBMN=>K>IK>L>GMLMA>EH<:MBHG
    GHKMA:G=LHNMAH?MA>>JN:MHK:L:IHLBMBO>HKG>@:MBO>K>:EGNF;>K K>LI><MBO>ER

    "TJOHMFQSPQFSUZXJUIUIFOBNF HFP Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    EH<:MBHG
    (JWFTUIFMPDBUJPOPGUIFFWFOU

    5IF WBMVF Q NVTUCFUFYU

    "TJOHMFQSPQFSUZXJUIUIFOBNF MPDBUJPO Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    
    K>LHNK<>L
    (JWFTBSFTPVSDFUIBUXJMMCFOFFEFEGPSUIFFWFOU

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF SFTPVSDFT Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    LM:MNL
    (JWFTUIFDPOИSNBUJPOTUBUVTPGUIFFWFOU

    5IF WBMVF Q NVTUCFUFYUXJUIPOFPGUIFGPMMPXJOHWBMVFT

    Ǭ UFOUBUJWF
    Ǭ DPOGJSNFE
    Ǭ DBODFMMFE

    "TJOHMFQSPQFSUZXJUIUIFOBNF TUBUVT Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    LNFF:KR
    (JWFTBTIPSUTVNNBSZPGUIFFWFOU

    5IF WBMVF Q NVTUCFUFYU

    6TFSBHFOUTTIPVMESFQMBDF6 "-*/&'&&% -'


    DIBSBDUFSTJOUIF WBMVF Q CZ6 41"$&DIBSBDUFST
    XIFOVTJOHUIFWBMVF

    "TJOHMFQSPQFSUZXJUIUIFOBNF TVNNBSZ Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    =M>G=
    (JWFTUIFEBUFBOEUJNFCZXIJDIUIFFWFOUFOET

    *GUIFQSPQFSUZXJUIUIFOBNF EUFOE Q JTQSFTFOUXJUIJOBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSH


    QSPGJMFIDBMFOEBSWFWFOU Q UIBUIBTBQSPQFSUZXJUIUIFOBNF EUTUBSU Q XIPTFWBMVFJTB WBMJEEBUF
    TUSJOH Q UIFOUIF WBMVF Q PGUIFQSPQFSUZXJUIUIFOBNF EUFOE Q NVTUCFUFYUUIBUJTB WBMJEEBUFTUSJOH Q
    BMTP0UIFSXJTF UIF WBMVF Q PGUIFQSPQFSUZNVTUCFUFYUUIBUJTB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    *OFJUIFSDBTF UIF WBMVF Q CFMBUFSJOUJNFUIBOUIFWBMVFPGUIF EUTUBSU QSPQFSUZPGUIFTBNF JUFN Q 

    *HM> 0A>MBF>@BO>G;RMA> =M>G= I IKHI>KMRBLGHMBG<ENLBO> "HK=:R


    EHG@>O>GML
    MA>K>?HK> MA> =M>G= I IKHI>KMRL O:EN> I PBEE;>MA>=:R :?M>K MA>>G=H?MA>>O>GM

    "TJOHMFQSPQFSUZXJUIUIFOBNF EUFOE Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q TPMPOHBTUIBU IUUQNJDSPGPSNBUTPSH
    QSPGJMFIDBMFOEBSWFWFOU Q EPFTOPUIBWFBQSPQFSUZXJUIUIFOBNF EVSBUJPO Q 

    =MLM:KM
    (JWFTUIFEBUFBOEUJNFBUXIJDIUIFFWFOUTUBSUT

    5IF WBMVF Q NVTUCFUFYUUIBUJTFJUIFSB WBMJEEBUFTUSJOH Q PSB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    &YBDUMZPOFQSPQFSUZXJUIUIFOBNF EUTUBSU Q NVTUCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    =NK:MBHG
    (JWFTUIFEBUFBOEUJNFBUXIJDIUIFFWFOUTUBSUT

    5IF WBMVF Q NVTUCFUFYUUIBUJTB WBMJEWFWFOUEVSBUJPOTUSJOH Q 

    5IFEVSBUJPOSFQSFTFOUFEJTUIFTVNPGBMMUIFEVSBUJPOTSFQSFTFOUFECZJOUFHFSTJOUIFWBMVF

    "TJOHMFQSPQFSUZXJUIUIFOBNF EVSBUJPO Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q TPMPOHBTUIBU IUUQNJDSPGPSNBUTPSH
    QSPGJMFIDBMFOEBSWFWFOU Q EPFTOPUIBWFBQSPQFSUZXJUIUIFOBNF EUFOE Q 

    
    MK:GLI
    (JWFTXIFUIFSUIFFWFOUJTUPCFDPOTJEFSFEBTDPOTVNJOHUJNFPOBDBMFOEBS GPSUIFQVSQPTFPGGSFFCVTZUJNF
    TFBSDIFT

    5IF WBMVF Q NVTUCFUFYUXJUIPOFPGUIFGPMMPXJOHWBMVFT

    Ǭ PQBRVF
    Ǭ USBOTQBSFOU

    "TJOHMFQSPQFSUZXJUIUIFOBNF USBOTQ Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    <HGM:<M
    (JWFTUIFDPOUBDUJOGPSNBUJPOGPSUIFFWFOU

    5IF WBMVF Q NVTUCFUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF DPOUBDU Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    NKE
    (JWFTB 63- Q GPSUIFFWFOU

    5IF WBMVF Q NVTUCFBO BCTPMVUF63- Q 

    "TJOHMFQSPQFSUZXJUIUIFOBNF VSM Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    >Q=:M>
    (JWFTBEBUFBOEUJNFBUXIJDIUIFFWFOUEPFTOPUPDDVSEFTQJUFUIFSFDVSSFODFSVMFT

    5IF WBMVF Q NVTUCFUFYUUIBUJTFJUIFSB WBMJEEBUFTUSJOH Q PSB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF FYEBUF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    >QKNE>
    (JWFTBSVMFGPSИOEJOHEBUFTBOEUJNFTBUXIJDIUIFFWFOUEPFTOPUPDDVSEFTQJUFUIFSFDVSSFODFSVMFT

    5IF WBMVF Q NVTUCFUFYUUIBUNBUDIFTUIF3&$63WBMVFUZQFEFИOFEJOUIFJ$BMFOEBSTQFDJИDBUJPO


    <3'$> Q

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF FYSVMF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    K=:M>
    (JWFTBEBUFBOEUJNFBUXIJDIUIFFWFOUSFDVST

    5IF WBMVF Q NVTUCFUFYUUIBUJTPOFPGUIFGPMMPXJOH

    Ǭ " WBMJEEBUFTUSJOH Q 

    Ǭ " WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    Ǭ " WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q GPMMPXFECZB6 '40-*%64DIBSBDUFS 


    GPMMPXFECZB
    TFDPOE WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q SFQSFTFOUJOHBMBUFSUJNF

    Ǭ " WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q GPMMPXFECZB6 '40-*%64DIBSBDUFS 


    GPMMPXFECZB WBMJE
    WFWFOUEVSBUJPOTUSJOH Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF SEBUF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    KKNE>
    (JWFTBSVMFGPSИOEJOHEBUFTBOEUJNFTBUXIJDIUIFFWFOUPDDVST

    5IF WBMVF Q NVTUCFUFYUUIBUNBUDIFTUIF3&$63WBMVFUZQFEFИOFEJOUIFJ$BMFOEBSTQFDJИDBUJPO


    <3'$> Q

    
    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF SSVMF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF
    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    <K>:M>=
    (JWFTUIFEBUFBOEUJNFBUXIJDIUIFFWFOUJOGPSNBUJPOXBTИSTUDSFBUFEJOBDBMFOEBSJOHTZTUFN

    5IF WBMVF Q NVTUCFUFYUUIBUJTB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    "TJOHMFQSPQFSUZXJUIUIFOBNF DSFBUFE Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    E:LM FH=B?B>=
    (JWFTUIFEBUFBOEUJNFBUXIJDIUIFFWFOUJOGPSNBUJPOXBTMBTUNPEJИFEJOBDBMFOEBSJOHTZTUFN

    5IF WBMVF Q NVTUCFUFYUUIBUJTB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q 

    "TJOHMFQSPQFSUZXJUIUIFOBNF MBTUNPEJGJFE Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    L>JN>G<>
    (JWFTBSFWJTJPOOVNCFSGPSUIFFWFOUJOGPSNBUJPO

    5IF WBMVF Q NVTUCFUFYUUIBUJTB WBMJEOPOOFHBUJWFJOUFHFS Q 

    "TJOHMFQSPQFSUZXJUIUIFOBNF TFRVFODF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU Q 

    "TUSJOHJTB P;FC>P?P?HN>OL;NCIHMNLCHA JGJUNBUDIFTUIFGPMMPXJOHQBUUFSO

     "6 -"5*/$"1*5"--&55&31DIBSBDUFS 1
    

     0OFPGUIFGPMMPXJOH
    Ǭ " WBMJEOPOOFHBUJWFJOUFHFS Q GPMMPXFECZB6 -"5*/$"1*5"--&55&38DIBSBDUFS 8
    5IF
    JOUFHFSSFQSFTFOUTBEVSBUJPOPGUIBUOVNCFSPGXFFLT
    Ǭ "UMFBTUPOF BOEQPTTJCMFCPUIJOUIJTPSEFS PGUIFGPMMPXJOH
     " WBMJEOPOOFHBUJWFJOUFHFS Q GPMMPXFECZB6 -"5*/$"1*5"--&55&3%DIBSBDUFS
    %
    5IFJOUFHFSSFQSFTFOUTBEVSBUJPOPGUIBUOVNCFSPGEBZT
     "6 -"5*/$"1*5"--&55&35DIBSBDUFS 5
    GPMMPXFECZBOZPOFPGUIFGPMMPXJOH PS
    UIFИSTUBOETFDPOEPGUIFGPMMPXJOHJOUIBUPSEFS PSUIFTFDPOEBOEUIJSEPGUIF
    GPMMPXJOHJOUIBUPSEFS PSBMMUISFFPGUIFGPMMPXJOHJOUIJTPSEFS
     " WBMJEOPOOFHBUJWFJOUFHFS Q GPMMPXFECZB6 -"5*/$"1*5"--&55&3)
    DIBSBDUFS )
    5IFJOUFHFSSFQSFTFOUTBEVSBUJPOPGUIBUOVNCFSPGIPVST
     " WBMJEOPOOFHBUJWFJOUFHFS Q GPMMPXFECZB6 %-"5*/$"1*5"--&55&3.
    DIBSBDUFS .
    5IFJOUFHFSSFQSFTFOUTBEVSBUJPOPGUIBUOVNCFSPGNJOVUFT
     " WBMJEOPOOFHBUJWFJOUFHFS Q GPMMPXFECZB6 -"5*/$"1*5"--&55&34
    DIBSBDUFS 4
    5IFJOUFHFSSFQSFTFOUTBEVSBUJPOPGUIBUOVNCFSPGTFDPOET

        IHP?LMCIHNIC;F?H>;L

    (JWFOBMJTUPGOPEFT =>34B JOB %PDVNFOU Q BVTFSBHFOUNVTUSVOUIFGPMMPXJOHBMHPSJUINUP ?RNL;=N;HSP!P?HN


    >;N;L?JL?M?HN?><SNBIM?HI>?M

     *GOPOFPGUIFOPEFTJO =>34B BSF JUFNT Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMF


    IDBMFOEBSWFWFOU Q UIFOUIFSFJTOPW&WFOUEBUB"CPSUUIFBMHPSJUIN SFUVSOJOHOPUIJOH

     -FU >DC?DC CFBOFNQUZTUSJOH

     "EEBOJ$BMFOEBSMJOF Q XJUIUIFUZQF#&(*/BOEUIFWBMVF7$"-&/%"3UP >DC?DC

     "EEBOJ$BMFOEBSMJOF Q XJUIUIFUZQF130%*%BOEUIFWBMVFFRVBMUPBVTFSBHFOUTQFDJИDTUSJOH


    SFQSFTFOUJOHUIFVTFSBHFOUUP >DC?DC

     "EEBOJ$BMFOEBSMJOF Q XJUIUIFUZQF7&34*0/BOEUIFWBMVFUP >DC?DC

     'PSFBDIOPEF =>34 JO =>34B UIBUJTBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMF


    IDBMFOEBSWFWFOU Q SVOUIFGPMMPXJOHTUFQT

     "EEBOJ$BMFOEBSMJOF Q XJUIUIFUZQF#&(*/BOEUIFWBMVF7&7&/5UP >DC?DC

    
     "EEBOJ$BMFOEBSMJOF Q XJUIUIFUZQF%545".1BOEBWBMVFDPOTJTUJOHPGBOJ$BMFOEBS%"5&
    5*.&TUSJOHSFQSFTFOUJOHUIFDVSSFOUEBUFBOEUJNF XJUIUIFBOOPUBUJPO7"-6&%"5&5*.& UP
    >DC?DC <3'$> Q

     *GUIF JUFN Q IBTB HMPCBMJEFOUJИFS Q BEEBOJ$BMFOEBSMJOF Q XJUIUIFUZQF6*%BOEUIBU


    HMPCBMJEFOUJИFS Q BTUIFWBMVFUP >DC?DC

     'PSFBDIFMFNFOU 4;4<4=C UIBUJT BQSPQFSUZPGUIFJUFN Q =>34GPSFBDIOBNF =0<4 JO


    4;4<4=CT QSPQFSUZOBNFT Q SVOUIFBQQSPQSJBUFTFUPGTVCTUFQTGSPNUIFGPMMPXJOHMJTU

    %@NB?JLIJ?LNSM P;FO? J CM;H CN?G J


    4LJQUIFQSPQFSUZ

    %@ >E>F>GM CM; ODH@ K ?F?G?HN


    -FU E0;D4 CFUIFSFTVMUPGTUSJQQJOHBMM6 %):1)&/.*/64 
    BOE6 "$0-0/ 

    DIBSBDUFSTGSPNUIFQSPQFSUZT WBMVF Q 

    *GUIFQSPQFSUZT WBMVF Q JTB WBMJEEBUFTUSJOH Q UIFO BEEBOJ$BMFOEBSMJOF Q XJUIUIFUZQF
    =0<4 BOEUIFWBMVF E0;D4 UP >DC?DC XJUIUIFBOOPUBUJPO7"-6&%"5&

    0UIFSXJTF JGUIFQSPQFSUZT WBMVF Q JTB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q UIFO BEEBO


    J$BMFOEBSMJOF Q XJUIUIFUZQF =0<4 BOEUIFWBMVF E0;D4 UP >DC?DC XJUIUIFBOOPUBUJPO
    7"-6&%"5&5*.&

    0UIFSXJTFTLJQUIFQSPQFSUZ

    +NB?LQCM?
    "EEBOJ$BMFOEBSMJOF Q XJUIUIFUZQF =0<4 BOEUIFQSPQFSUZT WBMVF Q UP >DC?DC

     "EEBOJ$BMFOEBSMJOF Q XJUIUIFUZQF&/%BOEUIFWBMVF7&7&/5UP >DC?DC

     "EEBOJ$BMFOEBSMJOF Q XJUIUIFUZQF&/%BOEUIFWBMVF7$"-&/%"3UP >DC?DC

    8IFOUIFBCPWFBMHPSJUINTBZTUIBUUIFVTFSBHFOUJTUP ;>>;HC;F?H>;LFCH? DPOTJTUJOHPGBUZQF CH?4 BWBMVF


    E0;D4 BOEPQUJPOBMMZBOBOOPUBUJPO UPBTUSJOH >DC?DC JUNVTUSVOUIFGPMMPXJOHTUFQT

     -FU ;8=4 CFBOFNQUZTUSJOH

     "QQFOE CH?4 DPOWFSUFEUP"4$**VQQFSDBTF Q UP ;8=4

     *GUIFSFJTBOBOOPUBUJPO

     "QQFOEB6 #4&.*$0-0/DIBSBDUFS 
    UP ;8=4

     "QQFOEUIFBOOPUBUJPOUP ;8=4

     "QQFOEB6 "$0-0/DIBSBDUFS 
    UP ;8=4

     1SFИYFWFSZ6 $3&7&34&40-*%64DIBSBDUFS =
    JO E0;D4 XJUIBOPUIFS6 $3&7&34&40-*%64
    DIBSBDUFS =
    

     1SFИYFWFSZ6 $$0.."DIBSBDUFS
    JO E0;D4 XJUIB6 $3&7&34&40-*%64DIBSBDUFS =
    

     1SFИYFWFSZ6 #4&.*$0-0/DIBSBDUFS 
    JO E0;D4 XJUIB6 $3&7&34&40-*%64DIBSBDUFS =
    

     3FQMBDFFWFSZ6 %$"33*"(&3&563/6 "-*/&'&&%DIBSBDUFSQBJS $3-'


    JO E0;D4 XJUIB6 $
    3&7&34&40-*%64DIBSBDUFS =
    GPMMPXFECZB6 &-"5*/4."---&55&3/DIBSBDUFS O
    

     3FQMBDFFWFSZSFNBJOJOH6 %$"33*"(&3&563/ $3
    PS6 "-*/&'&&% -'
    DIBSBDUFSJO E0;D4 XJUI
    B6 $3&7&34&40-*%64DIBSBDUFS =
    GPMMPXFECZB6 &-"5*/4."---&55&3/DIBSBDUFS O
    

     "QQFOE E0;D4 UP ;8=4

     -FU <0G8<D<;4=6C7 CF

     *GBOEXIJMF ;8=4 JTMPOHFSUIBO <0G8<D<;4=6C7 6OJDPEFDPEFQPJOUTMPOH SVOUIFGPMMPXJOHTVCTUFQT

     "QQFOEUIFИSTU <0G8<D<;4=6C7 6OJDPEFDPEFQPJOUTPG ;8=4 UP >DC?DC

     3FNPWFUIFИSTU <0G8<D<;4=6C7 6OJDPEFDPEFQPJOUTGSPN ;8=4

    
     "QQFOEB6 %$"33*"(&3&563/DIBSBDUFS $3
    UP >DC?DC

     "QQFOEB6 "-*/&'&&%DIBSBDUFS -'


    UP >DC?DC

     "QQFOEB6 41"$&DIBSBDUFSUP >DC?DC

     -FU <0G8<D<;4=6C7 CF

     "QQFOE XIBUSFNBJOTPG


    ;8=4 UP >DC?DC

     "QQFOEB6 %$"33*"(&3&563/DIBSBDUFS $3


    UP >DC?DC

     "QQFOEB6 "-*/&'&&%DIBSBDUFS -'


    UP >DC?DC

    *HM> 0ABL:E@HKBMAF<:G@>G>K:M>BGO:EB=B:E>G=:KHNMINM B?MA>BGINM=H>LGHM<HG?HKFMHMA>


    KNE>L=>L<KB;>=?HKMA> AMMIFB<KH?HKF:ML HK@IKH?BE>A<:E>G=:KO>O>GM I BM>FMRI> I :G=
    =>[G>=IKHI>KMRG:F>L I

        !R;GJF?M

    *78BB42C8>=8B=>==>A<0C8E4

    )FSFJTBOFYBNQMFPGBQBHFUIBUVTFTUIFW&WFOUWPDBCVMBSZUPNBSLVQBOFWFOU

    CPEZJUFNTDPQFJUFNUZQFIUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU
    
    IJUFNQSPQTVNNBSZ#MVFTEBZ5VFTEBZ.POFZ3PBEI
    
    UJNFJUFNQSPQEUTUBSUEBUFUJNF5;.BZUI!QNUJNF
    VOUJMUJNFJUFNQSPQEUFOEEBUFUJNF5;QNUJNF

    
    BISFGIUUQMJWFCSVNDPVLCMVFTEBZUVFTEBZNPOFZSPBE
    SFMCPPLNBSLJUFNQSPQVSM-JOLUPUIJTQBHFB
    
    Q-PDBUJPOTQBOJUFNQSPQMPDBUJPO5IF3PBE)PVTFTQBOQ
    
    QJOQVUUZQFCVUUPOWBMVF"EEUP$BMFOEBS
    PODMJDLMPDBUJPOHFU$BMFOEBS UIJT
    Q
    
    NFUBJUFNQSPQEFTDSJQUJPODPOUFOUWJBMJWFCSVNDPVL
    CPEZ

    5IFHFU$BMFOEBS
    NFUIPEDPVMEMPPLMJLFUIJT

    GVODUJPOHFU$BMFOEBS OPEF
    \
    5IJTGVODUJPOBTTVNFTUIFDPOUFOUJTWBMJE
    *UJTOPUBDPNQMJBOUJNQMFNFOUBUJPOPGUIFBMHPSJUINGPS FYUSBDUJOHW&WFOUEBUB
    XIJMF OPEF OPEFJUFN4DPQF]]OPEFJUFN5ZQFIUUQNJDSPGPSNBUTPSHQSPGJMF
    IDBMFOEBSWFWFOU

    OPEFOPEFQBSFOU/PEF
    JG OPEF
    \
    BMFSU /PFWFOUEBUBGPVOE
    
    SFUVSO
    ^
    WBSTUBNQOFX%BUF
    
    WBSTUBNQ4USJOH TUBNQHFU65$'VMM:FBS
      TUBNQHFU65$.POUI
     
    
    TUBNQHFU65$%BUF
     5
    TUBNQHFU65$)PVST
     TUBNQHFU65$.JOVUFT
    
    TUBNQHFU65$4FDPOET
     ;
    WBSDBMFOEBS
    #&(*/7$"-&/%"3=S=O130%*%)5.-=S=O7&34*0/=S=O#&(*/7&7&/5=S=O%545".1 TUBNQ4USJOH
    =S=O
    JG OPEFJUFN*E

    DBMFOEBS 6*% OPEFJUFN*E =S=O


    GPS WBSQSPQ*OEFYQSPQ*OEFYOPEFQSPQFSUJFTMFOHUIQSPQ*OEFY 
    \
    WBSQSPQOPEFQSPQFSUJFT<QSPQ*OEFY>
    WBSWBMVFQSPQJUFN7BMVF
    WBSQBSBNFUFST

    
    JG QSPQMPDBM/BNFUJNF
    \
    WBMVFWBMVFSFQMBDF <>H 
    
    JG WBMVFNBUDI 5

    QBSBNFUFST7"-6&%"5&
    FMTF
    QBSBNFUFST7"-6&%"5&5*.&
    ^FMTF\
    WBMVFWBMVFSFQMBDF ==H ==O
    
    WBMVFWBMVFSFQMBDF H ==
    
    WBMVFWBMVFSFQMBDF  H == 
    
    WBMVFWBMVFSFQMBDF =OH ==O
    
    ^
    GPS WBSOBNF*OEFYOBNF*OEFYQSPQJUFN1SPQMFOHUIOBNF*OEFY 
    \
    WBSOBNFQSPQJUFN1SPQ<OBNF*OEFY>
    JG OBNFNBUDI 
    OBNFNBUDI =

    DBMFOEBS OBNFUP6QQFS$BTF
     QBSBNFUFST  WBMVF =S=O
    ^
    ^
    DBMFOEBS &/%7&7&/5=S=O&/%7$"-&/%"3=S=O
    SFUVSOEBUBUFYUDBMFOEBSDPNQPOFOUWFWFOU  FODPEF63* DBMFOEBS
    
    ^

    5IFTBNFQBHFDPVMEPЗFSTPNFNBSLVQ TVDIBTUIFGPMMPXJOH GPSDPQZBOEQBTUJOHJOUPCMPHT

    EJWJUFNTDPQFJUFNUZQFIUUQNJDSPGPSNBUTPSHQSPGJMFIDBMFOEBSWFWFOU
    Q*NHPJOHUP
    TUSPOHJUFNQSPQTVNNBSZ#MVFTEBZ5VFTEBZ.POFZ3PBETUSPOH
    UJNFJUFNQSPQEUTUBSUEBUFUJNF5;.BZUIBUQNUJNF
    UPUJNFJUFNQSPQEUFOEDPOUFOU5;QNUJNF
    BUTQBOJUFNQSPQMPDBUJPO5IF3PBE)PVTFTQBOQ
    QBISFGIUUQMJWFCSVNDPVLCMVFTEBZUVFTEBZNPOFZSPBE
    JUFNQSPQVSM4FFUIJTFWFOUPOMJWFCSVNDPVLBQ
    NFUBJUFNQSPQEFTDSJQUJPODPOUFOUWJBMJWFCSVNDPVL
    EJW

       (C=?HMCHAQILEM

    "OJUFNXJUIUIF JUFNUZQF Q COOKI RC<ORB JMBRJMF SFQSFTFOUTBXPSL FHBOBSUJDMF BOJNBHF BWJEFP B
    TPOH FUD
    5IJTUZQFJTQSJNBSJMZJOUFOEFEUPBMMPXBVUIPSTUPJODMVEFMJDFOTJOHJOGPSNBUJPOGPSXPSLT

    5IFGPMMPXJOHBSFUIFUZQFT EFИOFEQSPQFSUZOBNFT Q 

    PHKD
    *EFOUJИFTUIFXPSLCFJOHEFTDSJCFE

    5IF WBMVF Q NVTUCFBO BCTPMVUF63- Q 

    &YBDUMZPOFQSPQFSUZXJUIUIFOBNF XPSL Q NVTUCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQOXIBUXHPSHXPSL Q 

    MBME>
    (JWFTUIFOBNFPGUIFXPSL

    "TJOHMFQSPQFSUZXJUIUIFOBNF UJUMF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQOXIBUXHPSHXPSL Q 

    :NMAHK
    (JWFTUIFOBNFPSDPOUBDUJOGPSNBUJPOPGPOFPGUIFBVUIPSTPSDSFBUPSTPGUIFXPSL

    5IF WBMVF Q NVTUCFFJUIFSBO JUFN Q XJUIUIFUZQF IUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE Q PSUFYU

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF BVUIPS Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQOXIBUXHPSHXPSL Q 

    EB<>GL>
    *EFOUJИFTPOFPGUIFMJDFOTFTVOEFSXIJDIUIFXPSLJTBWBJMBCMF

    
    5IF WBMVF Q NVTUCFBO BCTPMVUF63- Q 

    "OZOVNCFSPGQSPQFSUJFTXJUIUIFOBNF MJDFOTF Q NBZCFQSFTFOUXJUIJOFBDI JUFN Q XJUIUIFUZQF


    IUUQOXIBUXHPSHXPSL Q 

        IHP?LMCIHNI. "

    'PSUIFQVSQPTFTPG3%'QSPDFTTPST UIFUSJQMFTPCUBJOFEGSPNUIFGPMMPXJOH5VSUMFNVTUCFBQQMJFE

    IUUQXXXXPSHYIUNMNJDSPEBUBIUUQ"''OXIBUXHPSH'XPSL"XPSL
    IUUQXXXXPSHPXMFRVJWBMFOU1SPQFSUZ
    IUUQXXXXPSHPXMTBNF"T
    IUUQXXXXPSHYIUNMNJDSPEBUBIUUQ"''OXIBUXHPSH'XPSL"UJUMF
    IUUQXXXXPSHPXMFRVJWBMFOU1SPQFSUZ
    IUUQQVSMPSHEDUFSNTUJUMF
    IUUQXXXXPSHYIUNMNJDSPEBUBIUUQ"''OXIBUXHPSH'XPSL"BVUIPS
    IUUQXXXXPSHPXMFRVJWBMFOU1SPQFSUZ
    IUUQDSFBUJWFDPNNPOTPSHOTBUUSJCVUJPO/BNF
    IUUQXXXXPSHYIUNMNJDSPEBUBIUUQ"''OXIBUXHPSH'XPSL"MJDFOTF
    IUUQXXXXPSHPXMFRVJWBMFOU1SPQFSUZ
    IUUQXXXXPSHYIUNMWPDBCMJDFOTF

    *HM> 0A>LN;C><MLH?MA>LM:M>F>GML:;HO>:K>MA>IK>=B<:M>LMA:MK>LNEM?KHF <HGO>KMBG@MH


    . " I :G$0)(I:@><HGM:BGBG@FB<KH=:M:PBMA:GBM>FPAHL> MRI> I BLAMMIG PA:MP@ HK@
    PHKD I 

        !R;GJF?M

    *78BB42C8>=8B=>==>A<0C8E4

    5IJTFYBNQMFTIPXTBOFNCFEEFEJNBHFFOUJUMFE #H&>=3 MJDFOTFEVOEFSUIF$SFBUJWF$PNNPOT"UUSJCVUJPO


    4IBSF"MJLF6OJUFE4UBUFT-JDFOTFBOEUIF.*5MJDFOTFTJNVMUBOFPVTMZ

    GJHVSF DO@HN>JK@DO@HOTK@COOKI RC<ORB JMBRJMF


    JNH DO@HKMJKRJMF TSDNZQPOEKQFH
    GJHDBQUJPO
    QDJUF DO@HKMJKODOG@.Z1POEDJUFQ
    QTNBMM-JDFOTFEVOEFSUIFB DO@HKMJKGD>@IN@
    ISFGIUUQDSFBUJWFDPNNPOTPSHMJDFOTFTCZTBVT$SFBUJWF
    $PNNPOT"UUSJCVUJPO4IBSF"MJLF6OJUFE4UBUFT-JDFOTFB
    BOEUIFB DO@HKMJKGD>@IN@
    ISFGIUUQXXXPQFOTPVSDFPSHMJDFOTFTNJUMJDFOTFQIQ.*5
    MJDFOTFBTNBMM
    GJHDBQUJPO
    GJHVSF

      IHP?LNCHA$0)(NIINB?L@ILG;NM

       &/+*

    (JWFOBMJTUPGOPEFT =>34B JOB %PDVNFOU Q BVTFSBHFOUNVTUSVOUIFGPMMPXJOHBMHPSJUINUP ?RNL;=NNB?GC=LI>;N;


    @LIGNBIM?HI>?MCHNI;&/+*@ILG

     -FU A4BD;C CFBOFNQUZPCKFDU

     -FU 8C4<B CFBOFNQUZBSSBZ

     'PSFBDI =>34 JO =>34B DIFDLJGUIFFMFNFOUJTB UPQMFWFMNJDSPEBUBJUFN Q BOEJGJUJTUIFO HFUUIF


    PCKFDU Q GPSUIBUFMFNFOUBOEBEEJUUP 8C4<B

     "EEBOFOUSZUP A4BD;C DBMMFEJUFNTXIPTFWBMVFJTUIFBSSBZ 8C4<B

     3FUVSOUIFSFTVMUPGTFSJBMJ[JOH A4BD;C UP+40/

    8IFOUIFVTFSBHFOUJTUP A?NNB?I<D?=N GPSBOJUFN 8C4< JUNVTUSVOUIFGPMMPXJOHTVCTUFQT

    
     -FU A4BD;C CFBOFNQUZPCKFDU

     *GUIF 8C4< IBTBO JUFNUZQF Q BEEBOFOUSZUP A4BD;C DBMMFEUZQFXIPTFWBMVFJTUIF JUFNUZQF Q PG 8C4<

     *GUIF 8C4< IBTBO HMPCBMJEFOUJИFS Q BEEBOFOUSZUP A4BD;C DBMMFEJEXIPTFWBMVFJTUIF HMPCBM


    JEFOUJИFS Q PG 8C4<

     -FU ?A>?4AC84B CFBOFNQUZPCKFDU

     'PSFBDIFMFNFOU 4;4<4=C UIBUIBTPOFPSNPSF QSPQFSUZOBNFT Q BOEJTPOFPG UIFQSPQFSUJFTPGUIF


    JUFN Q 8C4< JOUIFPSEFSUIPTFFMFNFOUTBSFHJWFOCZUIFBMHPSJUINUIBUSFUVSOT UIFQSPQFSUJFTPGBO
    JUFN Q SVOUIFGPMMPXJOHTVCTUFQT

     -FU E0;D4 CFUIF QSPQFSUZWBMVF Q PG 4;4<4=C

     *G E0;D4 JTBO JUFN Q UIFO HFUUIFPCKFDU Q GPS E0;D4 BOEUIFOSFQMBDF E0;D4 XJUIUIFPCKFDU
    SFUVSOFEGSPNUIPTFTUFQT

     'PSFBDIOBNF =0<4 JO 4;4<4=CT QSPQFSUZOBNFT Q SVOUIFGPMMPXJOHTVCTUFQT

     *GUIFSFJTOPFOUSZOBNFE =0<4 JO ?A>?4AC84B UIFOBEEBOFOUSZOBNFE =0<4 UP


    ?A>?4AC84B XIPTFWBMVFJTBOFNQUZBSSBZ

     "QQFOE E0;D4 UPUIFFOUSZOBNFE =0<4 JO ?A>?4AC84B

     "EEBOFOUSZUP A4BD;C DBMMFEQSPQFSUJFTXIPTFWBMVFJTUIFPCKFDU ?A>?4AC84B

     3FUVSO A4BD;C

       . "

    5P =IHP?LN; "J>PH@IO NI. " BVTFSBHFOUNVTUSVOUIFGPMMPXJOHBMHPSJUIN

     *G UIF UJUMF FMFNFOU Q JTOPUOVMM UIFOHFOFSBUFUIFGPMMPXJOHUSJQMF

    MO<D?=N  UIFEPDVNFOUTDVSSFOUBEESFTT Q


    JL?>C=;N?  IUUQQVSMPSHEDUFSNTUJUMF
    I<D?=N  UIFDPODBUFOBUJPOPGUIFEBUBPGBMMUIFDIJME UFYUOPEFT Q PG UIF UJUMF FMFNFOU Q JO USFF
    PSEFS Q BTBQMBJOMJUFSBM XJUIUIFMBOHVBHFJOGPSNBUJPOTFUGSPNUIF MBOHVBHF Q PG UIF UJUMF FMFNFOU Q
    JGJUJTOPUVOLOPXO

     'PSFBDI B Q BSFB Q BOE MJOL Q FMFNFOUJOUIF %PDVNFOU Q SVOUIFTFTVCTUFQT

     *GUIFFMFNFOUEPFTOPUIBWFB SFM BUUSJCVUF UIFOTLJQUIJTFMFNFOU

     *GUIFFMFNFOUEPFTOPUIBWFBO ISFG BUUSJCVUF UIFOTLJQUIJTFMFNFOU

     *G SFTPMWJOH Q UIFFMFNFOUT ISFG BUUSJCVUFSFMBUJWFUPUIFFMFNFOUJTOPUTVDDFTTGVM UIFOTLJQUIJT


    FMFNFOU

     0UIFSXJTF TQMJUUIFWBMVFPGUIFFMFNFOUT SFM BUUSJCVUFPOTQBDFT Q PCUBJOJOH ;8BC>5C>:4=B

     $POWFSUFBDIUPLFOJO ;8BC>5C>:4=B UIBUEPFTOPUDPOUBJOB6 "$0-0/DIBSBDUFST 


    UP"4$**
    MPXFSDBTF Q 

     *G ;8BC>5C>:4=B DPOUBJOTNPSFUIBOPOFJOTUBODFPGUIFUPLFO VQ Q UIFOSFNPWFBMMTVDIUPLFOT

     $PBMFTDFEVQMJDBUFUPLFOTJO ;8BC>5C>:4=B

     *G ;8BC>5C>:4=B DPOUBJOTCPUIUIFUPLFOT BMUFSOBUF Q BOE TUZMFTIFFU Q UIFOSFNPWFUIFN


    CPUIBOESFQMBDFUIFNXJUIUIFTJOHMF VQQFSDBTF
    UPLFO "-5&3/"5&45:-&4)&&5

     'PSFBDIUPLFO C>:4= JO ;8BC>5C>:4=B UIBUDPOUBJOTOP6 "$0-0/DIBSBDUFST 


    HFOFSBUFUIF
    GPMMPXJOHUSJQMF

    MO<D?=N  UIFEPDVNFOUTDVSSFOUBEESFTT Q


    JL?>C=;N?  UIFDPODBUFOBUJPOPGUIFTUSJOHIUUQXXXXPSHYIUNMWPDBCBOE
    C>:4= XJUIBOZDIBSBDUFSTJO C>:4= UIBUBSFOPUWBMJEJOUIFJGSBHNFOUQSPEVDUJPOPGUIF*3*
    TZOUBYCFJOHFTDBQFE <3'$> Q

    
    I<D?=N  UIF BCTPMVUF63- Q UIBUSFTVMUTGSPN SFTPMWJOH Q UIFWBMVFPGUIFFMFNFOUT ISFG
    BUUSJCVUFSFMBUJWFUPUIFFMFNFOU

    'PSFBDIUPLFO C>:4= JO ;8BC>5C>:4=B UIBUJTBO BCTPMVUF63- Q HFOFSBUFUIFGPMMPXJOHUSJQMF

    MO<D?=N  UIFEPDVNFOUTDVSSFOUBEESFTT Q


    JL?>C=;N?  C>:4=
    I<D?=N  UIF BCTPMVUF63- Q UIBUSFTVMUTGSPN SFTPMWJOH Q UIFWBMVFPGUIFFMFNFOUT ISFG
    BUUSJCVUFSFMBUJWFUPUIFFMFNFOU

     'PSFBDI NFUB Q FMFNFOUJOUIF %PDVNFOU Q UIBUIBTB OBNF Q BUUSJCVUFBOEB DPOUFOU Q BUUSJCVUF JGUIF
    WBMVFPGUIF OBNF Q BUUSJCVUFDPOUBJOTOP6 "$0-0/DIBSBDUFST 
    HFOFSBUFUIFGPMMPXJOHUSJQMF

    MO<D?=N  UIFEPDVNFOUTDVSSFOUBEESFTT Q


    JL?>C=;N?  UIFDPODBUFOBUJPOPGUIFTUSJOHIUUQXXXXPSHYIUNMWPDBCBOEUIFWBMVFPG
    UIFFMFNFOUT OBNF Q BUUSJCVUF DPOWFSUFEUP"4$**MPXFSDBTF Q XJUIBOZDIBSBDUFSTJOUIFWBMVFUIBUBSF
    OPUWBMJEJOUIFJGSBHNFOUQSPEVDUJPOPGUIF*3*TZOUBYCFJOHFTDBQFE <3'$> Q
    I<D?=N  UIFWBMVFPGUIFFMFNFOUT DPOUFOU Q BUUSJCVUF BTBQMBJOMJUFSBM XJUIUIFMBOHVBHFJOGPSNBUJPO
    TFUGSPNUIF MBOHVBHF Q PGUIFFMFNFOU JGJUJTOPUVOLOPXO

    'PSFBDI NFUB Q FMFNFOUJOUIF %PDVNFOU Q UIBUIBTB OBNF Q BUUSJCVUFBOEB DPOUFOU Q BUUSJCVUF JGUIF
    WBMVFPGUIF OBNF Q BUUSJCVUFJTBO BCTPMVUF63- Q HFOFSBUFUIFGPMMPXJOHUSJQMF

    MO<D?=N  UIFEPDVNFOUTDVSSFOUBEESFTT Q


    JL?>C=;N?  UIFWBMVFPGUIFFMFNFOUT OBNF Q BUUSJCVUF
    I<D?=N  UIFWBMVFPGUIFFMFNFOUT DPOUFOU Q BUUSJCVUF BTBQMBJOMJUFSBM XJUIUIFMBOHVBHFJOGPSNBUJPO
    TFUGSPNUIF MBOHVBHF Q PGUIFFMFNFOU JGJUJTOPUVOLOPXO

     'PSFBDI CMPDLRVPUF Q BOE R Q FMFNFOUJOUIF %PDVNFOU Q UIBUIBTB DJUF BUUSJCVUFUIBU SFTPMWFT Q
    TVDDFTTGVMMZSFMBUJWFUPUIFFMFNFOU HFOFSBUFUIFGPMMPXJOHUSJQMF

    MO<D?=N  UIFEPDVNFOUTDVSSFOUBEESFTT Q


    JL?>C=;N?  IUUQQVSMPSHEDUFSNTTPVSDF
    I<D?=N  UIF BCTPMVUF63- Q UIBUSFTVMUTGSPN SFTPMWJOH Q UIFWBMVFPGUIFFMFNFOUT DJUF BUUSJCVUF
    SFMBUJWFUPUIFFMFNFOU

     -FU <4<>AH CFBNBQQJOHPGJUFNTUPTVCKFDUT JOJUJBMMZFNQUZ

     'PSFBDIFMFNFOUUIBUJTBMTPB UPQMFWFMNJDSPEBUBJUFN Q SVOUIFGPMMPXJOHTUFQT

     (FOFSBUFUIFUSJQMFTGPSUIFJUFN Q 1BTTBSFGFSFODFUP <4<>AH BTUIFJUFNTVCKFDUMJTU-FU A4BD;C


    CFUIFTVCKFDUSFUVSOFE

     (FOFSBUFUIFGPMMPXJOHUSJQMF

    MO<D?=N  UIFEPDVNFOUTDVSSFOUBEESFTT Q


    JL?>C=;N?  IUUQXXXXPSHYIUNMNJDSPEBUBJUFN
    I<D?=N  A4BD;C

    8IFOUIFVTFSBHFOUJTUP A?H?L;N?NB?NLCJF?M@IL;HCN?G 8C4< HJWFOBSFGFSFODFUPBOJUFNTVCKFDUMJTU <4<>AH


    BOEPQUJPOBMMZHJWFOBGBMMCBDLUZQF 50;;102:CH?4 BOEQSPQFSUZOBNF 50;;102:=0<4 JUNVTUGPMMPXUIFGPMMPXJOHTUFQT

     *GUIFSFJTBOFOUSZGPS 8C4< JO <4<>AH UIFOMFU BD1942C CFUIFTVCKFDUPGUIBUFOUSZ0UIFSXJTF JG 8C4< IBTB


    HMPCBMJEFOUJИFS Q BOEUIBU HMPCBMJEFOUJИFS Q JTBO BCTPMVUF63- Q MFU BD1942C CFUIBU HMPCBMJEFOUJИFS Q 
    0UIFSXJTF MFU BD1942C CFBOFXCMBOLOPEF

     "EEBNBQQJOHGSPN 8C4< UP BD1942C JO <4<>AH JGUIFSFJTOUPOFBMSFBEZ

     *G 8C4< IBTBO JUFNUZQF Q BOEUIBU JUFNUZQF Q JTBO BCTPMVUF63- Q MFU CH?4 CFUIBU JUFNUZQF Q 
    0UIFSXJTF MFU CH?4 CFUIFFNQUZTUSJOH

     *G CH?4 JTOPUUIFFNQUZTUSJOH SVOUIFGPMMPXJOHTUFQT

     (FOFSBUFUIFGPMMPXJOHUSJQMF

    MO<D?=N  BD1942C
    JL?>C=;N?  IUUQXXXXPSHSEGTZOUBYOTUZQF
    I<D?=N  CH?4

    
     *G CH?4 EPFTOPUDPOUBJOB6 /6.#&34*(/DIBSBDUFS 
    UIFOBQQFOEB6 /6.#&3
    4*(/DIBSBDUFS 
    UP CH?4

     *G CH?4 EPFTOPUIBWFB6 "$0-0/DIBSBDUFS 


    BGUFSJUT6 /6.#&34*(/DIBSBDUFS 

    BQQFOEB6 "$0-0/DIBSBDUFS 
    UP CH?4

     *G CH?4 JTUIFFNQUZTUSJOH CVU 50;;102:CH?4 JTOPU SVOUIFGPMMPXJOHTVCTUFQT

     -FU CH?4 IBWFUIFWBMVFPG 50;;102:CH?4

     *G CH?4 EPFTOPUDPOUBJOB6 /6.#&34*(/DIBSBDUFS 


    UIFOBQQFOEB6 /6.#&3
    4*(/DIBSBDUFS 
    UP CH?4

     *G CH?4 EPFTOPUIBWFB6 "$0-0/DIBSBDUFS 


    BGUFSJUT6 /6.#&34*(/DIBSBDUFS 

    BQQFOEB6 "$0-0/DIBSBDUFS 
    UP CH?4

     *GUIFMBTUDIBSBDUFSPG CH?4 JTOPUB6 "$0-0/DIBSBDUFS 


    BQQFOEB6 1&3$&/5
    4*(/DIBSBDUFS 
    B6 %*(*5580DIBSBDUFS 
    BOEB6 %*(*5;&30DIBSBDUFS 

    UP CH?4

     "QQFOEUIFWBMVFPG 50;;102:=0<4 UP CH?4 XJUIBOZDIBSBDUFSTJO 50;;102:=0<4 UIBUBSFOPUWBMJE


    JOUIFJGSBHNFOUQSPEVDUJPOPGUIF*3*TZOUBYCFJOHFTDBQFE <3'$> Q

     'PSFBDIFMFNFOU 4;4<4=C UIBUIBTPOFPSNPSF QSPQFSUZOBNFT Q BOEJTPOFPG UIFQSPQFSUJFTPGUIF


    JUFN Q 8C4< JOUIFPSEFSUIPTFFMFNFOUTBSFHJWFOCZUIFBMHPSJUINUIBUSFUVSOT UIFQSPQFSUJFTPGBO
    JUFN Q SVOUIFGPMMPXJOHTVCTUFQ

     'PSFBDIOBNF =0<4 JO 4;4<4=CT QSPQFSUZOBNFT Q SVOUIFGPMMPXJOHTVCTUFQT

     *G CH?4 JTUIFFNQUZTUSJOHBOE =0<4 JTOPUBO BCTPMVUF63- Q UIFOBCPSUUIFTF


    TVCTUFQT

     -FU E0;D4 CFUIF QSPQFSUZWBMVF Q PG 4;4<4=C

     *G E0;D4 JTBO JUFN Q UIFO HFOFSBUFUIFUSJQMFT Q GPS E0;D41BTTBSFGFSFODFUP


    <4<>AH BTUIFJUFNTVCKFDUMJTU BOEQBTT CH?4 BTUIFGBMMCBDLUZQFBOE =0<4 BTUIF
    GBMMCBDLQSPQFSUZOBNF3FQMBDF E0;D4 CZUIFTVCKFDUSFUVSOFEGSPNUIPTFTUFQT

     0UIFSXJTF JG 4;4<4=C JTOPUPOFPGUIF 63-QSPQFSUZFMFNFOUT Q MFU E0;D4 CFBQMBJO


    MJUFSBM XJUIUIFMBOHVBHFJOGPSNBUJPOTFUGSPNUIF MBOHVBHF Q PGUIFFMFNFOU JGJUJTOPU
    VOLOPXO

     %@ G:F> CM;H ;<MIFON?1.( J


    -FU ?A43820C4 CF =0<4

    %@ G:F> =IHN;CHMHI1 +(+*=B;L;=N?LM

     -FU B CF CH?4

     *GUIFMBTUDIBSBDUFSPG B JTOPUB6 "$0-0/DIBSBDUFS 


    BQQFOEB
    6 1&3$&/54*(/DIBSBDUFS 
    B6 %*(*5580DIBSBDUFS
    
    BOEB6 %*(*5;&30DIBSBDUFS 
    UP B

     "QQFOEUIFWBMVFPG =0<4 UP B XJUIBOZDIBSBDUFSTJO =0<4 UIBUBSFOPU


    WBMJEJOUIFJGSBHNFOUQSPEVDUJPOPGUIF*3*TZOUBYCFJOHFTDBQFE
    <3'$> Q

     -FU ?A43820C4 CFUIFDPODBUFOBUJPOPGUIFTUSJOHIUUQXXXXPSH


    YIUNMNJDSPEBUBBOE B XJUIBOZDIBSBDUFSTJO B UIBUBSFOPU
    WBMJEJOUIFJGSBHNFOUQSPEVDUJPOPGUIF*3*TZOUBYCFJOHFTDBQFE
    CVUXJUIPVUEPVCMFFTDBQJOHFYJTUJOHFTDBQFT <3'$> Q

    'PSFYBNQMFJGUIFTUSJOH B JTIUUQFYBNQMFDPNBRS
    UIFSFTVMUJOH ?A43820C4 XPVMECFIUUQXXXXPSH
    YIUNMNJDSPEBUBIUUQFYBNQMFDPNBRS

     (FOFSBUFUIFGPMMPXJOHUSJQMF

    
    MO<D?=N  BD1942C
    JL?>C=;N?  ?A43820C4
    I<D?=N  E0;D4

     3FUVSO BD1942C

        !R;GJF?M

    *78BB42C8>=8B=>==>A<0C8E4

    )FSFJTBOFYBNQMFPGTPNF)5.-VTJOH.JDSPEBUBUPFYQSFTT3%'TUBUFNFOUT

    EMJUFNTDPQF
    JUFNUZQFIUUQQVSMPSHWPDBCGSCSDPSF8PSL
    JUFNJEIUUQQVSMPSFJMMZDPNXPSLT62+(;42,%)/
    EU5JUMFEU
    EEDJUFJUFNQSPQIUUQQVSMPSHEDUFSNTUJUMF+VTUB(FFLDJUFEE
    EU#ZEU
    EETQBOJUFNQSPQIUUQQVSMPSHEDUFSNTDSFBUPS8JM8IFBUPOTQBOEE
    EU'PSNBUEU
    EEJUFNQSPQIUUQQVSMPSHWPDBCGSCSDPSFSFBMJ[BUJPO
    JUFNTDPQF
    JUFNUZQFIUUQQVSMPSHWPDBCGSCSDPSF&YQSFTTJPO
    JUFNJEIUUQQVSMPSFJMMZDPNQSPEVDUT#00,
    MJOLJUFNQSPQIUUQQVSMPSHEDUFSNTUZQFISFGIUUQQVSMPSFJMMZDPN
    QSPEVDUUZQFT#00,
    1SJOU
    EE
    EEJUFNQSPQIUUQQVSMPSHWPDBCGSCSDPSFSFBMJ[BUJPO
    JUFNTDPQF
    JUFNUZQFIUUQQVSMPSHWPDBCGSCSDPSF&YQSFTTJPO
    JUFNJEIUUQQVSMPSFJMMZDPNQSPEVDUT&#00,
    MJOLJUFNQSPQIUUQQVSMPSHEDUFSNTUZQFISFGIUUQQVSMPSFJMMZDPN
    QSPEVDUUZQFT&#00,
    &CPPL
    EE
    EM

    5IJTJTFRVJWBMFOUUPUIFGPMMPXJOH5VSUMF

    !QSFGJYEDIUUQQVSMPSHEDUFSNT
    !QSFGJYGSCSIUUQQVSMPSHWPDBCGSCSDPSF

    IUUQQVSMPSFJMMZDPNXPSLT62+(;42,%)/BGSCS8PSL
    EDDSFBUPS8JM8IFBUPO!FO
    EDUJUMF+VTUB(FFL!FO
    GSCSSFBMJ[BUJPOIUUQQVSMPSFJMMZDPNQSPEVDUT#00,
    IUUQQVSMPSFJMMZDPNQSPEVDUT&#00,

    IUUQQVSMPSFJMMZDPNQSPEVDUT#00,BGSCS&YQSFTTJPO
    EDUZQFIUUQQVSMPSFJMMZDPNQSPEVDUUZQFT#00,

    IUUQQVSMPSFJMMZDPNQSPEVDUT&#00,BGSCS&YQSFTTJPO
    EDUZQFIUUQQVSMPSFJMMZDPNQSPEVDUUZQFT&#00,

    5IFGPMMPXJOHTOJQQFUPG)5.-IBTNJDSPEBUBGPSUXPQFPQMFXJUIUIFTBNFBEESFTT

    Q
    #PUI
    TQBOJUFNTDPQFJUFNUZQFIUUQNJDSPGPSNBUTPSHQSPGJMFIDBSEJUFNSFGIPNFTQBO
    JUFNQSPQGO
    TQBOJUFNQSPQOJUFNTDPQFTQBO
    JUFNQSPQHJWFOOBNF1SJODFUPOTQBOTQBOTQBOTQBO
    BOE
    TQBOJUFNTDPQFJUFNUZQFIUUQNJDSPGPSNBUTPSHQSPGJMFIDBSEJUFNSFGIPNFTQBO
    JUFNQSPQGO
    TQBOJUFNQSPQOJUFNTDPQFTQBO

    
    JUFNQSPQHJWFOOBNF5SFLLJFTQBOTQBOTQBOTQBO
    MJWFBU
    TQBOJEIPNFJUFNQSPQBESJUFNTDPQFTQBOJUFNQSPQTUSFFUBEESFTT"WFOVF
    2TQBOTQBO
    Q

    *UHFOFSBUFTUIFTFUSJQMFTFYQSFTTFEJO5VSUMF JODMVEJOHBUSJQMFUIBUJOUIJTDBTFJTFYQSFTTFEUXJDF UIPVHIUIBU


    JTOPUNFBOJOHGVMJO3%'
    

    !QSFGJYSEGIUUQXXXXPSHSEGTZOUBYOT
    !QSFGJYEDUIUUQQVSMPSHEDUFSNT
    !QSFGJYIDBSEIUUQXXXXPSHYIUNMNJDSPEBUBIUUQNJDSPGPSNBUTPSHQSPGJMF
    IDBSE

    IUUQXXXXPSHYIUNMNJDSPEBUBJUFN@O
    IUUQXXXXPSHYIUNMNJDSPEBUBJUFN@O
    @OSEGUZQFIUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE
    IDBSEGO1SJODFUPO
    IDBSEO@OB
    IDBSEBES@O
    @OBIDBSEOHJWFOOBNF1SJODFUPO
    @OSEGUZQFIUUQNJDSPGPSNBUTPSHQSPGJMFIDBSE
    IDBSEGO5SFLLJF
    IDBSEO@OB
    IDBSEBES@O
    @OBIDBSEOHJWFOOBNF5SFLLJF
    @OIDBSEBESTUSFFUBEESFTT"WFOVF2
    IDBSEBESTUSFFUBEESFTT"WFOVF2

       NIG

    (JWFOB %PDVNFOU Q B>DA24 BVTFSBHFOUNBZSVOUIFGPMMPXJOHBMHPSJUINUP ?RNL;=N;HNIG@??>5IJTJTOPUUIF


    POMZBMHPSJUINUIBUDBOCFVTFEGPSUIJTQVSQPTFGPSJOTUBODF BVTFSBHFOUNJHIUJOTUFBEVTFUIFI"UPNBMHPSJUIN
    <)"50.> Q

     *GUIF %PDVNFOU Q B>DA24 EPFTOPUDPOUBJOBOZ BSUJDMF Q FMFNFOUT UIFOSFUVSOOPUIJOHBOEBCPSUUIFTF


    TUFQT5IJTBMHPSJUINDBOPOMZCFVTFEXJUIEPDVNFOUTUIBUDPOUBJOEJTUJODUBSUJDMFT

     -FU ( CFBOFNQUZ 9.- Q %PDVNFOU Q PCKFDUXIPTF BEESFTT Q JTVTFSBHFOUEFИOFE

     "QQFOEB GFFE FMFNFOUJOUIF "UPNOBNFTQBDF Q UP (

     'PSFBDI NFUB Q FMFNFOUXJUIB OBNF Q BUUSJCVUFBOEB DPOUFOU Q BUUSJCVUFBOEXIPTF OBNF Q
    BUUSJCVUFTWBMVFJT BVUIPS Q SVOUIFGPMMPXJOHTVCTUFQT

     "QQFOEBO BVUIPS FMFNFOUJOUIF "UPNOBNFTQBDF Q UPUIFSPPUFMFNFOUPG (

     "QQFOEB OBNF FMFNFOUJOUIF "UPNOBNFTQBDF Q UPUIFFMFNFOUDSFBUFEJOUIFQSFWJPVTTUFQ

     "QQFOEBUFYUOPEFXIPTFEBUBJTUIFWBMVFPGUIF NFUB Q FMFNFOUT DPOUFOU Q BUUSJCVUFUPUIF


    FMFNFOUDSFBUFEJOUIFQSFWJPVTTUFQ

     *GUIFSFJTB MJOL Q FMFNFOUXIPTF SFM Q BUUSJCVUFTWBMVFJODMVEFTUIFLFZXPSE JDPO Q BOEUIBUFMFNFOU
    BMTPIBTBO ISFG Q BUUSJCVUFXIPTFWBMVFTVDDFTTGVMMZ SFTPMWFT Q SFMBUJWFUPUIF MJOL Q FMFNFOU UIFO
    BQQFOEBO JDPO FMFNFOUJOUIF "UPNOBNFTQBDF Q UPUIFSPPUFMFNFOUPG ( XIPTFDPOUFOUTJTBUFYUOPEF
    XJUIJUTEBUBTFUUPUIF BCTPMVUF63- Q SFTVMUJOHGSPN SFTPMWJOH Q UIFWBMVFPGUIF ISFG Q BUUSJCVUF

     "QQFOEBO JE FMFNFOUJOUIF "UPNOBNFTQBDF Q UPUIFSPPUFMFNFOUPG ( XIPTFDPOUFOUTJTBUFYUOPEF


    XJUIJUTEBUBTFUUP UIFEPDVNFOUTDVSSFOUBEESFTT Q 

     0QUJPOBMMZ-FU G CFB MJOL FMFNFOUJOUIF "UPNOBNFTQBDF Q "EEB SFM BUUSJCVUFXIPTFWBMVFJTUIF


    TUSJOHTFMGUP G"QQFOEBUFYUOPEFXJUIJUTEBUBTFUUPUIF VTFSBHFOUEFИOFE
    BEESFTT Q PG ( UP G
    "QQFOE G UPUIFSPPUFMFNFOUPG (

    
    *HM> 0ABLLM>IPHNE=;>LDBII>=PA>GMA>=H<NF>GM . A:LGH<HGO>GB>GM :==K>LL I
    0A>IK>L>G<>H?MA> K>EL>E? EBGDBL:LAHNE=
    E>O>EK>JNBK>F>GMBGMA>MHF
    LI><B[<:MBHG

     -FU G CFB MJOL FMFNFOUJOUIF "UPNOBNFTQBDF Q "EEB SFM BUUSJCVUFXIPTFWBMVFJTUIFTUSJOH


    BMUFSOBUFUP G*GUIFEPDVNFOUCFJOHDPOWFSUFEJTBO )5.-EPDVNFOU Q BEEB UZQF BUUSJCVUFXIPTF
    WBMVFJTUIFTUSJOHUFYUIUNM Q UP G0UIFSXJTF UIFEPDVNFOUCFJOHDPOWFSUFEJTBO 9.-EPDVNFOU Q 
    BEEB UZQF BUUSJCVUFXIPTFWBMVFJTUIFTUSJOHBQQMJDBUJPOYIUNM YNM Q UP G"QQFOEBUFYUOPEFXJUI
    JUTEBUBTFUUP UIFEPDVNFOUTDVSSFOUBEESFTT Q UP G"QQFOE G UPUIFSPPUFMFNFOUPG (

     -FU BD174038=6C4GC CFUIFFNQUZTUSJOH

     -FU 74038=6 CFUIFИSTUFMFNFOUPG IFBEJOHDPOUFOU Q XIPTFOFBSFTUBODFTUPSPG TFDUJPOJOHDPOUFOU Q JT UIF
    CPEZFMFNFOU Q JGBOZ PSOVMMJGUIFSFJTOPOF

     5BLFUIFBQQSPQSJBUFBDUJPOGSPNUIFGPMMPXJOHMJTU BTEFUFSNJOFECZUIFUZQFPGUIF 74038=6 FMFNFOU

    %@ A>:=BG@ CMHOFF
    -FU 74038=6C4GC CFUIF UFYU$POUFOU Q PG UIF UJUMF FMFNFOU Q JGUIFSFJTPOF PSUIFFNQUZTUSJOH
    PUIFSXJTF

    %@ A>:=BG@ CM; CBMJPK K ?F?G?HN


    *G 74038=6 DPOUBJOTOPDIJME I Q ǠI Q FMFNFOUT MFU 74038=6C4GC CFUIFFNQUZTUSJOH

    0UIFSXJTF MFU 74038=6B;8BC CFBMJTUPGBMMUIF I Q ǠI Q FMFNFOUDIJMESFOPG 74038=6 TPSUFEИSTUCZ
    EFTDFOEJOH SBOL Q BOEUIFOJO USFFPSEFS Q TP I Q TИSTU UIFO I Q T FUD XJUIFBDIHSPVQJOUIF
    PSEFSUIFZBQQFBSJOUIFEPDVNFOU
    5IFO MFU 74038=6C4GC CFUIF UFYU$POUFOU Q PGUIFИSTUFOUSZJO
    74038=6B;8BC BOEJGUIFSFBSFNVMUJQMFFOUSJFT MFU BD174038=6C4GC CFUIF UFYU$POUFOU Q PGUIF
    TFDPOEFOUSZJO 74038=6B;8BC

    %@ A>:=BG@ CM;H C K VC K ?F?G?HN


    -FU 74038=6C4GC CFUIF UFYU$POUFOU Q PG 74038=6

     "QQFOEB UJUMF FMFNFOUJOUIF "UPNOBNFTQBDF Q UPUIFSPPUFMFNFOUPG ( XIPTFDPOUFOUTJTBUFYUOPEF


    XJUIJUTEBUBTFUUP 74038=6C4GC

     *G BD174038=6C4GC JTOPUUIFFNQUZTUSJOH BQQFOEB TVCUJUMF FMFNFOUJOUIF "UPNOBNFTQBDF Q UPUIF


    SPPUFMFNFOUPG ( XIPTFDPOUFOUTJTBUFYUOPEFXJUIJUTEBUBTFUUP BD174038=6C4GC

     -FU 6;>10;D?30C430C4 IBWFOPWBMVF

     'PSFBDI BSUJDMF Q FMFNFOU 0AC82;4 UIBUEPFTOPUIBWFBOBODFTUPS BSUJDMF Q FMFNFOU SVOUIFGPMMPXJOH
    TUFQT

     -FU  CFBO FOUSZ FMFNFOUJOUIF "UPNOBNFTQBDF Q BOEBQQFOE  UPUIFSPPUFMFNFOUPG (

     -FU 74038=6 CFUIFИSTUFMFNFOUPG IFBEJOHDPOUFOU Q XIPTFOFBSFTUBODFTUPSPG TFDUJPOJOH


    DPOUFOU Q JT 0AC82;4 JGBOZ PSOVMMJGUIFSFJTOPOF

     5BLFUIFBQQSPQSJBUFBDUJPOGSPNUIFGPMMPXJOHMJTU BTEFUFSNJOFECZUIFUZQFPGUIF 74038=6


    FMFNFOU

    %@ A>:=BG@ CMHOFF
    -FU 74038=6C4GC CFUIFFNQUZTUSJOH

    %@ A>:=BG@ CM; CBMJPK K ?F?G?HN


    *G 74038=6 DPOUBJOTOPDIJME I Q ǠI Q FMFNFOUT MFU 74038=6C4GC CFUIFFNQUZTUSJOH

    0UIFSXJTF MFU 74038=6B;8BC CFBMJTUPGBMMUIF I Q ǠI Q FMFNFOUDIJMESFOPG 74038=6


    TPSUFEИSTUCZEFTDFOEJOH SBOL Q BOEUIFOJO USFFPSEFS Q TP I Q TИSTU UIFO I Q T FUD
    XJUIFBDIHSPVQJOUIFPSEFSUIFZBQQFBSJOUIFEPDVNFOU
    5IFO MFU 74038=6C4GC CFUIF
    UFYU$POUFOU Q PGUIFИSTUFOUSZJO 74038=6B;8BC

    %@ A>:=BG@ CM;H C K VC K ?F?G?HN


    -FU 74038=6C4GC CFUIF UFYU$POUFOU Q PG 74038=6

    
     "QQFOEB UJUMF FMFNFOUJOUIF "UPNOBNFTQBDF Q UP  XIPTFDPOUFOUTJTBUFYUOPEFXJUIJUT
    EBUBTFUUP 74038=6C4GC

     $MPOF 0AC82;4 BOEJUTEFTDFOEBOUTJOUPBOFOWJSPONFOUUIBUIBT TDSJQUJOHEJTBCMFE Q IBTOP


    QMVHJOT Q BOEGBJMTBOZBUUFNQUUP GFUDI Q BOZSFTPVSDFT-FU 2;>=430AC82;4 CFUIFSFTVMUJOHDMPOF
    BSUJDMF Q FMFNFOU

     3FNPWFGSPNUIFTVCUSFFSPPUFEBU 2;>=430AC82;4 BOZ BSUJDMF Q FMFNFOUTPUIFSUIBOUIF 2;>=43


    0AC82;4 JUTFMG BOZ IFBEFS Q GPPUFS Q PS OBW Q FMFNFOUTXIPTFOFBSFTUBODFTUPSPG TFDUJPOJOH
    DPOUFOU Q JTUIF 2;>=430AC82;4 BOEUIFИSTUFMFNFOUPG IFBEJOHDPOUFOU Q XIPTFOFBSFTUBODFTUPS
    PG TFDUJPOJOHDPOUFOU Q JTUIF 2;>=430AC82;4 JGBOZ

     *G 2;>=430AC82;4 DPOUBJOTBOZ JOT Q PS EFM Q FMFNFOUTXJUI EBUFUJNF Q BUUSJCVUFTXIPTFWBMVFT
    QBSTFBTHMPCBMEBUFBOEUJNFTUSJOHT Q XJUIPVUFSSPST UIFOMFU D?30C430C4 CFUIFWBMVFPGUIF
    EBUFUJNF Q BUUSJCVUFUIBUQBSTFTUPUIFOFXFTU HMPCBMEBUFBOEUJNF Q 

    0UIFSXJTF MFU D?30C430C4 IBWFOPWBMVF

    *HM> 0ABLO:EN>BLNL>=;>EHPBMBL<:E<NE:M>=A>K>;><:NL>BG<>KM:BG<:L>LMA>
    G>QMLM>IFNM:M>LMA> <EHG>=:KMB<E>

     *GUIFEPDVNFOUCFJOHDPOWFSUFEJTBO )5.-EPDVNFOU Q UIFO-FU G CFB DPOUFOU FMFNFOUJOUIF


    "UPNOBNFTQBDF Q "EEB UZQF BUUSJCVUFXIPTFWBMVFJTUIFTUSJOHIUNMUP G"QQFOEBUFYU
    OPEFXJUIJUTEBUBTFUUPUIFSFTVMUPGSVOOJOHUIF )5.-GSBHNFOUTFSJBMJ[BUJPOBMHPSJUIN Q PO
    2;>=430AC82;4 UP G"QQFOE G UP 

    0UIFSXJTF UIFEPDVNFOUCFJOHDPOWFSUFEJTBO 9.-EPDVNFOU Q -FU G CFB DPOUFOU FMFNFOUJO


    UIF "UPNOBNFTQBDF Q "EEB UZQF BUUSJCVUFXIPTFWBMVFJTUIFTUSJOHYNMUP G"QQFOEB
    EJW Q FMFNFOUUP G.PWFBMMUIFDIJMEOPEFTPGUIF 2;>=430AC82;4 OPEFUPUIBU EJW Q FMFNFOU
    QSFTFSWJOHUIFJSSFMBUJWFPSEFS"QQFOE G UP 

     &TUBCMJTIUIFWBMVFPG 83 BOE 70B0;C4A=0C4 GSPNUIFИSTUPGUIFGPMMPXJOHUPBQQMZ

    %@NB? :KMB<E> HI>?B;M;>?M=?H>;HN < K IL <M@< K ?F?G?HNQCNB;H CM@A K ;NNLC<ON?
    NB;NMO==?MM@OFFS L?MIFP?M J L?F;NCP?NINB;N>?M=?H>;HN;H>; M@G ;NNLC<ON?QBIM?
    P;FO?CH=FO>?MNB? =JJFH<MF K E?SQIL>
    -FU 83 CFUIF BCTPMVUF63- Q SFTVMUJOHGSPN SFTPMWJOH Q UIFWBMVFPGUIF ISFG Q BUUSJCVUFPG
    UIFИSTUTVDI B Q PS BSFB Q FMFNFOU SFMBUJWFUPUIFFMFNFOU-FU 70B0;C4A=0C4 CFUSVF

    %@NB? :KMB<E> HI>?B;M;H D? K ;NNLC<ON?


    -FU 83 CF UIFEPDVNFOUTDVSSFOUBEESFTT Q XJUIUIFGSBHNFOUJEFOUJИFS JGBOZ
    SFNPWFE
    BOEXJUIBOFXGSBHNFOUJEFOUJИFSTQFDJИFE DPOTJTUJOHPGUIFWBMVFPGUIF 0AC82;4 FMFNFOUT
    JE Q BUUSJCVUF-FU 70B0;C4A=0C4 CFGBMTF

    +NB?LQCM?
    -FU 83 CFBVTFSBHFOUEFИOFEVOEFSFGFSFODFBCMFZFUHMPCBMMZVOJRVF WBMJE Q BCTPMVUF
    63- Q 5IFTBNF BCTPMVUF63- Q TIPVMECFHFOFSBUFEGPSFBDISVOPGUIJTBMHPSJUINXIFO
    HJWFOUIFTBNFJOQVU-FU 70B0;C4A=0C4 CFGBMTF

     "QQFOEBO JE FMFNFOUJOUIF "UPNOBNFTQBDF Q UP  XIPTFDPOUFOUTJTBUFYUOPEFXJUIJUTEBUB


    TFUUP 83

     *G 70B0;C4A=0C4 JTUSVF-FU G CFB MJOL FMFNFOUJOUIF "UPNOBNFTQBDF Q "EEB SFM BUUSJCVUF
    XIPTFWBMVFJTUIFTUSJOHBMUFSOBUFUP G"QQFOEBUFYUOPEFXJUIJUTEBUBTFUUP 83 UP G"QQFOE
    G UP 

     *G 0AC82;4 IBTB UJNF Q FMFNFOUEFTDFOEBOUUIBUIBTB QVCEBUF Q BUUSJCVUFBOEXIPTFOFBSFTU


    BODFTUPS BSUJDMF Q FMFNFOUJT 0AC82;4 BOEUIFИSTUTVDIFMFNFOUT EBUF Q JTOPUVOLOPXO UIFO
    SVOUIFGPMMPXJOHTVCTUFQT XJUI 4 CFJOHUIFИSTUTVDIFMFNFOU

     -FU 30C4C8<4 CFB HMPCBMEBUFBOEUJNF Q XIPTFEBUFDPNQPOFOUJTUIF EBUF Q PG 4

     *G 4T UJNF Q BOE UJNF[POFPЗTFU Q BSFOPUVOLOPXO UIFOMFU 30C4C8<4TUJNFBOE


    UJNF[POFPЗTFUDPNQPOFOUTCFUIF UJNF Q BOE UJNF[POFPЗTFU Q PG 40UIFSXJTF MFU
    UIFNCFNJEOJHIUBOEOPPЗTFUSFTQFDUJWFMZ ;
    

    
     -FU ?D1;820C8>=30C4 CFUIF CFTUSFQSFTFOUBUJPOPGUIFHMPCBMEBUFBOEUJNFTUSJOH Q
    30C4C8<4

    0UIFSXJTF MFU ?D1;820C8>=30C4 IBWFOPWBMVF

     *G D?30C430C4 IBTOPWBMVFCVU ?D1;820C8>=30C4 EPFT UIFOMFU D?30C430C4 IBWFUIFWBMVFPG


    ?D1;820C8>=30C4

    0UIFSXJTF JG ?D1;820C8>=30C4 IBTOPWBMVFCVU D?30C430C4 EPFT UIFOMFU ?D1;820C8>=30C4 IBWF


    UIFWBMVFPG D?30C430C4

     *G D?30C430C4 IBTBWBMVF BOE 6;>10;D?30C430C4 IBTOPWBMVFPSJTMFTTSFDFOUUIBO D?30C430C4


    UIFOMFU 6;>10;D?30C430C4 IBWFUIFWBMVFPG D?30C430C4

     *G ?D1;820C8>=30C4 BOE D?30C430C4 CPUITUJMMIBWFOPWBMVF UIFOMFUUIFNCPUIWBMVFBWBMVFUIBU


    JTB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q SFQSFTFOUJOHUIF HMPCBMEBUFBOEUJNF Q PGUIFNPNFOU
    UIBUUIJTBMHPSJUINXBTJOWPLFE

     "QQFOEBO QVCMJTIFE FMFNFOUJOUIF "UPNOBNFTQBDF Q UP  XIPTFDPOUFOUTJTBUFYUOPEFXJUI


    JUTEBUBTFUUP ?D1;820C8>=30C4

     "QQFOEBO VQEBUFE FMFNFOUJOUIF "UPNOBNFTQBDF Q UP  XIPTFDPOUFOUTJTBUFYUOPEFXJUIJUT


    EBUBTFUUP D?30C430C4

     *G 6;>10;D?30C430C4 IBTOPWBMVF UIFOMFUJUIBWFBWBMVFUIBUJTB WBMJEHMPCBMEBUFBOEUJNFTUSJOH Q


    SFQSFTFOUJOHUIF HMPCBMEBUFBOEUJNF Q PGUIFEBUFBOEUJNFPGUIF %PDVNFOU Q TTPVSDFИMFTMBTU
    NPEJИDBUJPO JGJUJTLOPXO PSFMTFPGUIFNPNFOUUIBUUIJTBMHPSJUINXBTJOWPLFE

     *OTFSUBO VQEBUFE FMFNFOUJOUIF "UPNOBNFTQBDF Q JOUPUIFSPPUFMFNFOUPG ( CFGPSFUIFИSTU FOUSZ JOUIF
    "UPNOBNFTQBDF Q XIPTFDPOUFOUTJTBUFYUOPEFXJUIJUTEBUBTFUUP 6;>10;D?30C430C4

     3FUVSOUIF"UPNEPDVNFOU (

    *HM> 0A>:;HO>:E@HKBMAF=H>LGHM@N:K:GM>>MA:MMA>HNMINMPBEE;>:<HG?HKFBG@MHF?>>= %G


    I:KMB<NE:K B?BGLN]<B>GMBG?HKF:MBHGBLIKHOB=>=BGMA>=H<NF>GM> @ B?MA>=H<NF>GM=H>LGHM
    A:O>:GR F>M:G:F>:NMAHK<HGM>GM  >E>F>GML MA>GMA>HNMINMPBEEGHM;><HG?HKFBG@

    5IF NIGH;G?MJ;=? JT IUUQXXXXPSH"UPN

    
     (I;>CHA3?<J;A?M
    5IJTTFDUJPOEFTDSJCFTGFBUVSFTUIBUBQQMZNPTUEJSFDUMZUP8FCCSPXTFST)BWJOHTBJEUIBU FYDFQUXIFSFTQFDJИFE
    PUIFSXJTF UIFSFRVJSFNFOUTEFИOFEJOUIJTTFDUJPO 3> BQQMZUPBMMVTFSBHFOUT XIFUIFSUIFZBSF8FCCSPXTFSTPSOPU

      LIQMCHA=IHN?RNM

    " <LIQMCHA=IHN?RN JTBOFOWJSPONFOUJOXIJDI %PDVNFOU Q PCKFDUTBSFQSFTFOUFEUPUIFVTFS

    *HM> M:;HKPBG=HPBG:3>;;KHPL>KMRIB<:EER<HGM:BGL: ;KHPLBG@<HGM>QM I :L=H>L:G


    B?K:F> I HK ?K:F> I LBG: ?K:F>L>M I

    &BDI CSPXTJOHDPOUFYU Q IBTBDPSSFTQPOEJOH 8JOEPX1SPYZ Q PCKFDU

    " CSPXTJOHDPOUFYU Q IBTB TFTTJPOIJTUPSZ Q XIJDIMJTUTUIF %PDVNFOU Q PCKFDUTUIBUUIBU CSPXTJOHDPOUFYU Q IBT
    QSFTFOUFE JTQSFTFOUJOH PSXJMMQSFTFOU"UBOZUJNF POF %PDVNFOU Q JOFBDI CSPXTJOHDPOUFYU Q JTEFTJHOBUFEUIF
    ;=NCP?>I=OG?HN

    &BDI %PDVNFOU Q JTBTTPDJBUFEXJUIB 8JOEPX Q PCKFDU" CSPXTJOHDPOUFYU Q T 8JOEPX1SPYZ Q PCKFDUGPSXBSET
    FWFSZUIJOHUPUIF CSPXTJOHDPOUFYU Q T BDUJWFEPDVNFOU Q T 8JOEPX Q PCKFDU

    *HM> %G@>G>K:E MA>K>BL:


    MH
    F:IIBG@?KHFMA> 5BG=HP I H;C><MMHMA> #H<NF>GM I H;C><M %G
    HG>I:KMB<NE:K<:L> : 5BG=HP I <:G;>K>NL>=?HKMA>IK>L>GM:MBHGH?:L><HG= #H<NF>GM I BGMA>
    L:F> ;KHPLBG@<HGM>QM I LN<AMA:MMA>F:IIBG@BLMA>G
    MH
     0ABLH<<NKLPA>G: ;KHPLBG@
    <HGM>QM I BL G:OB@:M>= I ?KHFMA>BGBMB:E :;HNM;E:GD I #H<NF>GM I MH:GHMA>K PBMA K>IE:<>F>GM
    >G:;E>= I

    *HM>  #H<NF>GM I =H>LGHMG><>LL:KBERA:O>: ;KHPLBG@<HGM>QM I :LLH<B:M>=PBMABM %G


    I:KMB<NE:K =:M:FBGBG@MHHEL:K>EBD>ERMHG>O>KBGLM:GMB:M>;KHPLBG@<HGM>QML

    " CSPXTJOHDPOUFYU Q DBOIBWFB =L?;NIL<LIQMCHA=IHN?RN UIF CSPXTJOHDPOUFYU Q UIBUXBTSFTQPOTJCMFGPSJUT


    DSFBUJPO*GB CSPXTJOHDPOUFYU Q IBTB QBSFOUCSPXTJOHDPOUFYU Q UIFOUIBUJTJUT DSFBUPSCSPXTJOHDPOUFYU Q 
    0UIFSXJTF JGUIF CSPXTJOHDPOUFYU Q IBTBO PQFOFSCSPXTJOHDPOUFYU Q UIFO C70C JTJUT DSFBUPSCSPXTJOHDPOUFYU Q 
    0UIFSXJTF UIF CSPXTJOHDPOUFYU Q IBTOP DSFBUPSCSPXTJOHDPOUFYU Q 

    *GB CSPXTJOHDPOUFYU Q  IBTB DSFBUPSCSPXTJOHDPOUFYU Q UIFOUIF %PDVNFOU Q UIBUXBTUIF BDUJWFEPDVNFOU Q
    PGUIBU DSFBUPSCSPXTJOHDPOUFYU Q BUUIFUJNF  XBTDSFBUFEJTUIF =L?;NIL "J>PH@IO

    8IFOB CSPXTJOHDPOUFYU Q JTИSTUDSFBUFE JUNVTUCFDSFBUFEXJUIBTJOHMF %PDVNFOU Q JOJUTTFTTJPOIJTUPSZ XIPTF


    BEESFTT Q JT BCPVUCMBOL Q XIJDIJTNBSLFEBTCFJOHBO )5.-EPDVNFOU Q BOEXIPTF DIBSBDUFSFODPEJOH Q JT
    65'5IF %PDVNFOU Q NVTUIBWFBTJOHMFDIJME IUNM Q OPEF XIJDIJUTFMGIBTBTJOHMFDIJME CPEZ Q OPEF

    *HM> %?MA> ;KHPLBG@<HGM>QM I BL<K>:M>=LI><B[<:EERMH;>BFF>=B:M>ERG:OB@:M>= MA>GMA:M


    BGBMB:EG:OB@:MBHGPBEEA:O> K>IE:<>F>GM>G:;E>= I

    5IF PSJHJO Q PGUIF BCPVUCMBOL Q %PDVNFOU Q JTTFUXIFOUIF %PDVNFOU Q JTDSFBUFE*GUIFOFX CSPXTJOH
    DPOUFYU Q IBTB DSFBUPSCSPXTJOHDPOUFYU Q UIFOUIF PSJHJO Q PGUIF BCPVUCMBOL Q %PDVNFOU Q JTUIF PSJHJO Q PG
    UIF DSFBUPS %PDVNFOU Q 0UIFSXJTF UIF PSJHJO Q PGUIF BCPVUCMBOL Q %PDVNFOU Q JTBHMPCBMMZVOJRVFJEFOUJИFS
    BTTJHOFEXIFOUIFOFX CSPXTJOHDPOUFYU Q JTDSFBUFE

       *?MN?><LIQMCHA=IHN?RNM

    $FSUBJOFMFNFOUT GPSFYBNQMF JGSBNF Q FMFNFOUT


    DBOJOTUBOUJBUFGVSUIFS CSPXTJOHDPOUFYUT Q 5IFTFBSFDBMMFE
    H?MN?><LIQMCHA=IHN?RNM*GBCSPXTJOHDPOUFYU & IBTBOFMFNFOU  JOPOFPGJUT %PDVNFOU Q T  UIBUOFTUTBOPUIFS
    CSPXTJOHDPOUFYU  JOTJEFJU UIFO & JTTBJEUPCFUIF J;L?HN<LIQMCHA=IHN?RN PG   JTTBJEUPCFB =BCF><LIQMCHA
    =IHN?RN PG &  JTTBJEUPCF H?MN?>NBLIOAB  BOE  JTTBJEUPCFUIF <LIQMCHA=IHN?RN=IHN;CH?L PG 

    "CSPXTJOHDPOUFYU  JTTBJEUPCFBOBODFTUPSPGBCSPXTJOHDPOUFYU  JGUIFSFFYJTUTBCSPXTJOHDPOUFYU  UIBUJTB


    DIJMECSPXTJOHDPOUFYU Q PG  BOEUIBUJTJUTFMGBOBODFTUPSPG  PSJGUIFSFJTBCSPXTJOHDPOUFYU & UIBUJTB DIJME
    CSPXTJOHDPOUFYU Q PG  BOEUIBUJTUIF QBSFOUCSPXTJOHDPOUFYU Q PG 

    
    5IFCSPXTJOHDPOUFYUXJUIOP QBSFOUCSPXTJOHDPOUFYU Q JTUIF NIJ F?P?F<LIQMCHA=IHN?RN PGBMMUIFCSPXTJOH
    DPOUFYUT OFTUFE Q XJUIJOJU FJUIFSEJSFDUMZPSJOEJSFDUMZUISPVHIPUIFSOFTUFECSPXTJOHDPOUFYUT
    

    5IFUSBOTJUJWFDMPTVSFPG QBSFOUCSPXTJOHDPOUFYUT Q GPSB OFTUFECSPXTJOHDPOUFYU Q HJWFTUIFMJTUPG ;H=?MNIL


    <LIQMCHA=IHN?RNM

    5IF FCMNI@NB?>?M=?H>;HN<LIQMCHA=IHN?RNM PGB %PDVNFOU Q 3 JTUIFMJTUSFUVSOFECZUIFGPMMPXJOHBMHPSJUIN

     -FU ;8BC CFBOFNQUZMJTU

     'PSFBDI DIJMECSPXTJOHDPOUFYU Q PG 3 UIBUJT OFTUFEUISPVHI Q BOFMFNFOUUIBUJT JOUIF %PDVNFOU Q 3 JO
    UIF USFFPSEFS Q PGUIFFMFNFOUTPGUIFFMFNFOUTOFTUJOHUIPTF CSPXTJOHDPOUFYUT Q BQQFOEUPUIFMJTU ;8BC
    UIF MJTUPGUIFEFTDFOEBOUCSPXTJOHDPOUFYUT Q PGUIF BDUJWFEPDVNFOU Q PGUIBU DIJMECSPXTJOH
    DPOUFYU Q 

     3FUVSOUIFDPOTUSVDUFE ;8BC

    " %PDVNFOU Q JTTBJEUPCF @OFFS;=NCP? XIFOJUJTUIF BDUJWFEPDVNFOU Q PGJUT CSPXTJOHDPOUFYU Q BOEFJUIFSJUT
    CSPXTJOHDPOUFYUJTB UPQMFWFMCSPXTJOHDPOUFYU Q PSUIF %PDVNFOU Q UISPVHIXIJDI Q UIBUCSPXTJOHDPOUFYUJT
    OFTUFE Q JTJUTFMG GVMMZBDUJWF Q 

    #FDBVTFUIFZBSFOFTUFEUISPVHIBOFMFNFOU DIJMECSPXTJOHDPOUFYUT Q BSFBMXBZTUJFEUPBTQFDJИD %PDVNFOU Q JO


    UIFJS QBSFOUCSPXTJOHDPOUFYU Q 6TFSBHFOUTNVTUOPUBMMPXUIFVTFSUPJOUFSBDUXJUI DIJMECSPXTJOHDPOUFYUT Q PG
    FMFNFOUTUIBUBSFJO %PDVNFOU Q TUIBUBSFOPUUIFNTFMWFT GVMMZBDUJWF Q 

    " OFTUFECSPXTJOHDPOUFYU Q DBOIBWFB TFBNMFTTCSPXTJOHDPOUFYUЙBH Q TFU JGJUJTFNCFEEFEUISPVHIBO


    JGSBNF Q FMFNFOUXJUIB TFBNMFTT Q BUUSJCVUF

        *;PCA;NCHAH?MN?><LIQMCHA=IHN?RNMCHNB? +)

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    PBG=HP OJK
    3FUVSOTUIF 8JOEPX1SPYZ Q GPSUIF UPQMFWFMCSPXTJOHDPOUFYU Q 

    PBG=HP K<M@IO K


    3FUVSOTUIF 8JOEPX1SPYZ Q GPSUIF QBSFOUCSPXTJOHDPOUFYU Q 

    PBG=HP AM<H@#G@H@IO K


    3FUVSOTUIF &MFNFOU Q GPSUIF CSPXTJOHDPOUFYUDPOUBJOFS Q 
    3FUVSOTOVMMJGUIFSFJTOUPOF
    5ISPXTB 4&$63*5:@&33 Q FYDFQUJPOJODSPTTPSJHJOTJUVBUJPOT

    5IF OJK *%-BUUSJCVUFPOUIF 8JOEPX Q PCKFDUPGB %PDVNFOU Q JOB CSPXTJOHDPOUFYU Q 1 NVTUSFUVSOUIF
    8JOEPX1SPYZ Q PCKFDUPGJUT UPQMFWFMCSPXTJOHDPOUFYU Q XIJDIXPVMECFJUTPXO 8JOEPX1SPYZ Q PCKFDUJGJUXBTB
    UPQMFWFMCSPXTJOHDPOUFYU Q JUTFMG
    

    5IF K<M@IO *%-BUUSJCVUFPOUIF 8JOEPX Q PCKFDUPGB %PDVNFOU Q JOB CSPXTJOHDPOUFYU Q 1 NVTUSFUVSOUIF
    8JOEPX1SPYZ Q PCKFDUPGUIF QBSFOUCSPXTJOHDPOUFYU Q JGUIFSFJTPOF JFJG 1 JTB DIJMECSPXTJOHDPOUFYU Q
    PS
    UIF 8JOEPX1SPYZ Q PCKFDUPGUIF CSPXTJOHDPOUFYU Q 1 JUTFMG PUIFSXJTF JFJGJUJTB UPQMFWFMCSPXTJOHDPOUFYU Q
    

    5IF AM<H@#G@H@IO *%-BUUSJCVUFPOUIF 8JOEPX Q PCKFDUPGB %PDVNFOU Q 3 POHFUUJOH NVTUSVOUIFGPMMPXJOH
    BMHPSJUIN

     *G 3 JTOPUB %PDVNFOU Q JOB DIJMECSPXTJOHDPOUFYU Q SFUVSOOVMMBOEBCPSUUIFTFTUFQT

     *GUIF QBSFOUCSPXTJOHDPOUFYU Q T BDUJWFEPDVNFOU Q EPFTOPUIBWFUIF TBNF Q FЗFDUJWFTDSJQUPSJHJO Q
    BTUIF FOUSZTDSJQU Q UIFOUISPXB 4&$63*5:@&33 Q FYDFQUJPO

     0UIFSXJTF SFUVSOUIF CSPXTJOHDPOUFYUDPOUBJOFS Q GPS 1

    
       ORCFC;LS<LIQMCHA=IHN?RNM

    *UJTQPTTJCMFUPDSFBUFOFXCSPXTJOHDPOUFYUTUIBUBSFSFMBUFEUPB UPQMFWFMCSPXTJOHDPOUFYU Q XJUIPVUCFJOHOFTUFE


    UISPVHIBOFMFNFOU4VDICSPXTJOHDPOUFYUTBSFDBMMFE ;ORCFC;LS<LIQMCHA=IHN?RNM"VYJMJBSZCSPXTJOHDPOUFYUT
    BSFBMXBZT UPQMFWFMCSPXTJOHDPOUFYUT Q 

    "O BVYJMJBSZCSPXTJOHDPOUFYU Q IBTBO IJ?H?L<LIQMCHA=IHN?RN XIJDIJTUIF CSPXTJOHDPOUFYU Q GSPNXIJDIUIF


    BVYJMJBSZCSPXTJOHDPOUFYU Q XBTDSFBUFE BOEJUIBTB @OLNB?MN;H=?MNIL<LIQMCHA=IHN?RN XIJDIJTUIF UPQMFWFM
    CSPXTJOHDPOUFYU Q PGUIF PQFOFSCSPXTJOHDPOUFYU Q XIFOUIF BVYJMJBSZCSPXTJOHDPOUFYU Q XBTDSFBUFE

        *;PCA;NCHA;ORCFC;LS<LIQMCHA=IHN?RNMCHNB? +)

    5IF JK@I@M *%-BUUSJCVUFPOUIF 8JOEPX Q PCKFDUNVTUSFUVSOUIF 8JOEPX1SPYZ Q PCKFDUPGUIF CSPXTJOHDPOUFYU Q
    GSPNXIJDIUIFDVSSFOU CSPXTJOHDPOUFYU Q XBTDSFBUFE JUT PQFOFSCSPXTJOHDPOUFYU Q
    JGUIFSFJTPOFBOEJUJTTUJMM
    BWBJMBCMF

       /?=IH>;LS<LIQMCHA=IHN?RNM

    6TFSBHFOUTNBZTVQQPSU M?=IH>;LS<LIQMCHA=IHN?RNM XIJDIBSF CSPXTJOHDPOUFYUT Q UIBUGPSNQBSUPGUIFVTFS


    BHFOUTJOUFSGBDF BQBSUGSPNUIFNBJODPOUFOUBSFB

       /?=OLCNS

    " CSPXTJOHDPOUFYU Q  JT ;FFIQ?>NIH;PCA;N? BTFDPOE CSPXTJOHDPOUFYU Q  JGPOFPGUIFGPMMPXJOHDPOEJUJPOTJT


    USVF

    Ǭ &JUIFSUIF PSJHJO Q PGUIF BDUJWFEPDVNFOU Q PG  JTUIF TBNF Q BTUIF PSJHJO Q PGUIF BDUJWF
    EPDVNFOU Q PG  PS

    Ǭ 5IFCSPXTJOHDPOUFYU  JTB OFTUFECSPXTJOHDPOUFYU Q BOEJUT UPQMFWFMCSPXTJOHDPOUFYU Q JT  PS

    Ǭ 5IFCSPXTJOHDPOUFYU  JTBO BVYJMJBSZCSPXTJOHDPOUFYU Q BOE  JT BMMPXFEUPOBWJHBUF Q T PQFOFS


    CSPXTJOHDPOUFYU Q PS

    Ǭ 5IFCSPXTJOHDPOUFYU  JTOPUB UPQMFWFMCSPXTJOHDPOUFYU Q CVUUIFSFFYJTUTBO BODFTUPSCSPXTJOH


    DPOUFYU Q PG  XIPTF BDUJWFEPDVNFOU Q IBTUIF TBNF Q PSJHJO Q BTUIF BDUJWFEPDVNFOU Q PG 
    QPTTJCMZJOGBDUCFJOH  JUTFMG
    

    "OFMFNFOUIBTB <LIQMCHA=IHN?RNM=IJ?ILCACH JGJUT %PDVNFOU Q T CSPXTJOHDPOUFYU Q JTB UPQMFWFMCSPXTJOH


    DPOUFYU Q PSJGBMMPGJUT %PDVNFOU Q T BODFTUPSCSPXTJOHDPOUFYUT Q BMMIBWF BDUJWFEPDVNFOUT Q XIPTF PSJHJO Q
    BSFUIF TBNFPSJHJO Q BTUIFFMFNFOUT %PDVNFOU Q T PSJHJO Q *GBOFMFNFOUIBTB CSPXTJOHDPOUFYUTDPQFPSJHJO Q
    UIFOJUTWBMVFJTUIF PSJHJO Q PGUIFFMFNFOUT %PDVNFOU Q 

       #LIOJCHAMI@<LIQMCHA=IHN?RNM

    &BDI CSPXTJOHDPOUFYU Q JTEFИOFEBTIBWJOHBMJTUPG[FSPPSNPSF >CL?=NFSL?;=B;<F?<LIQMCHA=IHN?RNM5IFTF


    BSF

    Ǭ "MMUIF CSPXTJOHDPOUFYU Q T DIJMECSPXTJOHDPOUFYUT Q 

    Ǭ 5IF CSPXTJOHDPOUFYU Q T QBSFOUCSPXTJOHDPOUFYU Q 

    Ǭ "MMUIF CSPXTJOHDPOUFYUT Q UIBUIBWFUIF CSPXTJOHDPOUFYU Q BTUIFJS PQFOFSCSPXTJOHDPOUFYU Q 

    Ǭ 5IF CSPXTJOHDPOUFYU Q T PQFOFSCSPXTJOHDPOUFYU Q 

    5IFUSBOTJUJWFDMPTVSFPGBMMUIF CSPXTJOHDPOUFYUT Q UIBUBSF EJSFDUMZSFBDIBCMFCSPXTJOHDPOUFYUT Q GPSNTB OHCNI@


    L?F;N?><LIQMCHA=IHN?RNM

    &BDI VOJUPGSFMBUFECSPXTJOHDPOUFYUT Q JTUIFOGVSUIFSEJWJEFEJOUPUIFTNBMMFTUOVNCFSPGHSPVQTTVDIUIBUFWFSZ


    NFNCFSPGFBDIHSPVQIBTBO FЗFDUJWFTDSJQUPSJHJO Q UIBU UISPVHIBQQSPQSJBUFNBOJQVMBUJPOPGUIF
    EPDVNFOUEPNBJO Q BUUSJCVUF DPVMECFNBEFUPCFUIFTBNFBTPUIFSNFNCFSTPGUIFHSPVQ CVUDPVMEOPUCFNBEF
    UIFTBNFBTNFNCFSTPGBOZPUIFSHSPVQ&BDITVDIHSPVQJTB OHCNI@L?F;N?>MCGCF;L ILCACH<LIQMCHA=IHN?RNM

    
    &BDI VOJUPGSFMBUFETJNJMBSPSJHJOCSPXTJOHDPOUFYUT Q DBOIBWFB ?HNLSM=LCJN XIJDIJTVTFEUPPCUBJO BNPOHTU
    PUIFSUIJOHT UIF TDSJQUTCBTF63- Q UP SFTPMWF Q SFMBUJWF 63-T Q VTFEJOTDSJQUTSVOOJOHJOUIBU VOJUPGSFMBUFE
    TJNJMBSPSJHJOCSPXTJOHDPOUFYUT Q *OJUJBMMZ UIFSFJTOP FOUSZTDSJQU Q 

    *HM> 0A>K>BL:MFHLMHG> >O>GMEHHI I I>K NGBMH?K>E:M>=LBFBE:K


    HKB@BG;KHPLBG@<HGM>QML I

       LIQMCHA=IHN?RNH;G?M

    #SPXTJOHDPOUFYUTDBOIBWFB <LIQMCHA=IHN?RNH;G?#ZEFGBVMU BCSPXTJOHDPOUFYUIBTOPOBNF JUTOBNFJTOPU


    TFU
    

    " P;FC><LIQMCHA=IHN?RNH;G? JTBOZTUSJOHXJUIBUMFBTUPOFDIBSBDUFSUIBUEPFTOPUTUBSUXJUIB6 '-08


    -*/&DIBSBDUFS /BNFTTUBSUJOHXJUIBOVOEFSTDPSFBSFSFTFSWFEGPSTQFDJBMLFZXPSET

    " P;FC><LIQMCHA=IHN?RNH;G?ILE?SQIL> JTBOZTUSJOHUIBUJTFJUIFSB WBMJECSPXTJOHDPOUFYUOBNF Q PSUIBUJT


    BO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSPOFPG @CMBOL @TFMG @QBSFOU PS @UPQ

    0B?LOF?M@IL=BIIMCHA;<LIQMCHA=IHN?RNACP?H;<LIQMCHA=IHN?RNH;G? BSFBTGPMMPXT5IFSVMFTBTTVNF
    UIBUUIFZBSFCFJOHBQQMJFEJOUIFDPOUFYUPGB CSPXTJOHDPOUFYU Q 

     *GUIFHJWFOCSPXTJOHDPOUFYUOBNFJTUIFFNQUZTUSJOHPS @TFMG UIFOUIFDIPTFOCSPXTJOHDPOUFYUNVTUCF


    UIFDVSSFOUPOF

     *GUIFHJWFOCSPXTJOHDPOUFYUOBNFJT @QBSFOU UIFOUIFDIPTFOCSPXTJOHDPOUFYUNVTUCFUIF ?0A4=C


    CSPXTJOHDPOUFYU Q PGUIFDVSSFOUPOF VOMFTTUIFSFJTOUPOF JOXIJDIDBTFUIFDIPTFOCSPXTJOHDPOUFYU
    NVTUCFUIFDVSSFOUCSPXTJOHDPOUFYU

     *GUIFHJWFOCSPXTJOHDPOUFYUOBNFJT @UPQ UIFOUIFDIPTFOCSPXTJOHDPOUFYUNVTUCFUIFNPTU UPQMFWFM


    CSPXTJOHDPOUFYU Q PGUIFDVSSFOUPOF

     *GUIFHJWFOCSPXTJOHDPOUFYUOBNFJTOPU @CMBOL BOEUIFSFFYJTUTBCSPXTJOHDPOUFYUXIPTF OBNF Q JTUIF


    TBNFBTUIFHJWFOCSPXTJOHDPOUFYUOBNF BOEUIFDVSSFOUCSPXTJOHDPOUFYUJT BMMPXFEUPOBWJHBUF Q UIBU
    CSPXTJOHDPOUFYU BOEUIFVTFSBHFOUEFUFSNJOFTUIBUUIFUXPCSPXTJOHDPOUFYUTBSFSFMBUFEFOPVHIUIBUJU
    JTPLJGUIFZSFBDIFBDIPUIFS UIFOUIBUCSPXTJOHDPOUFYUNVTUCFUIFDIPTFOPOF*GUIFSFBSFNVMUJQMF
    NBUDIJOHCSPXTJOHDPOUFYUT UIFVTFSBHFOUTIPVMETFMFDUPOFJOTPNFBSCJUSBSZDPOTJTUFOUNBOOFS TVDIBT
    UIFNPTUSFDFOUMZPQFOFE NPTUSFDFOUMZGPDVTFE PSNPSFDMPTFMZSFMBUFE

     0UIFSXJTF BOFXCSPXTJOHDPOUFYUJTCFJOHSFRVFTUFE BOEXIBUIBQQFOTEFQFOETPOUIFVTFSBHFOUT


    DPOИHVSBUJPOBOEPSBCJMJUJFT

    %@NB?=OLL?HN<LIQMCHA=IHN?RNB;>NB? M;H><IR?>H;PCA;NCIH<LIQMCHA=IHN?RN^;A J M?N


    QB?HCNM ;=NCP?>I=OG?HN J Q;M=L?;N?>
    5IFVTFSBHFOUNBZPЗFSUPDSFBUFBOFX UPQMFWFMCSPXTJOHDPOUFYU Q PSSFVTFBOFYJTUJOH UPQMFWFM
    CSPXTJOHDPOUFYU Q *GUIFVTFSQJDLTPOFPGUIPTFPQUJPOT UIFOUIFEFTJHOBUFECSPXTJOHDPOUFYUNVTU
    CFUIFDIPTFOPOF UIFCSPXTJOHDPOUFYUTOBNFJTOUTFUUPUIFHJWFOCSPXTJOHDPOUFYUOBNF
    
    0UIFSXJTF JGUIFVTFSBHFOUEPFTOUPЗFSUIFPQUJPOUPUIFVTFS PSJGUIFVTFSEFDMJOFTUPBMMPXB
    CSPXTJOHDPOUFYUUPCFVTFE
    UIFSFNVTUOPUCFBDIPTFOCSPXTJOHDPOUFYU

    %@NB?OM?L;A?HNB;M<??H=IH]AOL?>MO=BNB;NCHNBCMCHMN;H=?CNQCFF=L?;N?;H?Q<LIQMCHA
    =IHN?RN
    ;H>NB?<LIQMCHA=IHN?RNCM<?CHAL?KO?MN?>;MJ;LNI@ @IFFIQCHA;BSJ?LFCHE J QBIM?
    FCHENSJ?M J CH=FO>?NB? IJM@A@MM@M K E?SQIL>
    "OFX UPQMFWFMCSPXTJOHDPOUFYU Q NVTUCFDSFBUFE*GUIFHJWFOCSPXTJOHDPOUFYUOBNFJTOPU
    @CMBOL UIFOUIFOFXUPQMFWFMCSPXTJOHDPOUFYUTOBNFNVTUCFUIFHJWFOCSPXTJOHDPOUFYUOBNF
    PUIFSXJTF JUIBTOPOBNF
    5IFDIPTFOCSPXTJOHDPOUFYUNVTUCFUIJTOFXCSPXTJOHDPOUFYU

    *HM> %?BMBLBFF>=B:M>ER G:OB@:M>= I MA>GMA>G:OB@:MBHGPBEE;>=HG>PBMA


    K>IE:<>F>GM>G:;E>= I

    %@NB?OM?L;A?HNB;M<??H=IH]AOL?>MO=BNB;NCHNBCMCHMN;H=?CNQCFF=L?;N?;H?Q<LIQMCHA
    =IHN?RN
    ;H>NB? IJM@A@MM@M K E?SQIL>>I?MHN;JJFS
    "OFX BVYJMJBSZCSPXTJOHDPOUFYU Q NVTUCFDSFBUFE XJUIUIF PQFOFSCSPXTJOHDPOUFYU Q CFJOHUIF
    DVSSFOUPOF*GUIFHJWFOCSPXTJOHDPOUFYUOBNFJTOPU @CMBOL UIFOUIFOFXBVYJMJBSZCSPXTJOH
    DPOUFYUTOBNFNVTUCFUIFHJWFOCSPXTJOHDPOUFYUOBNF PUIFSXJTF JUIBTOPOBNF
    5IFDIPTFO
    CSPXTJOHDPOUFYUNVTUCFUIJTOFXCSPXTJOHDPOUFYU

    
    *GJUJTJNNFEJBUFMZ OBWJHBUFE Q UIFOUIFOBWJHBUJPOXJMMCFEPOFXJUI SFQMBDFNFOUFOBCMFE Q 

    %@NB?OM?L;A?HNB;M<??H=IH]AOL?>MO=BNB;NCHNBCMCHMN;H=?CNQCFFL?OM?NB?=OLL?HN
    <LIQMCHA=IHN?RN
    5IFDIPTFOCSPXTJOHDPOUFYUJTUIFDVSSFOUCSPXTJOHDPOUFYU

    %@NB?OM?L;A?HNB;M<??H=IH]AOL?>MO=BNB;NCHNBCMCHMN;H=?CNQCFFHIN]H>;<LIQMCHA
    =IHN?RN
    5IFSFNVTUOPUCFBDIPTFOCSPXTJOHDPOUFYU

    6TFSBHFOUJNQMFNFOUPSTBSFFODPVSBHFEUPQSPWJEFBXBZGPSVTFSTUPDPOИHVSFUIFVTFSBHFOUUPBMXBZT
    SFVTFUIFDVSSFOUCSPXTJOHDPOUFYU

      0B? 5DI?JR K I<D?=N

    <0WFSSJEF#VJMUJOT 3FQMBDFBCMF/BNFE1SPQFSUJFT>
    JOUFSGBDF 5DI?JR \
    UIFDVSSFOUCSPXTJOHDPOUFYU
    SFBEPOMZBUUSJCVUF 8JOEPX1SPYZ XJOEPX
    SFBEPOMZBUUSJCVUF 8JOEPX1SPYZ TFMG
    SFBEPOMZBUUSJCVUF %PDVNFOU EPDVNFOU
    BUUSJCVUF%0.4USJOH OBNF
    <1VU'PSXBSETISFG>SFBEPOMZBUUSJCVUF -PDBUJPO MPDBUJPO
    SFBEPOMZBUUSJCVUF )JTUPSZ IJTUPSZ
    SFBEPOMZBUUSJCVUF 6OEP.BOBHFS VOEP.BOBHFS
    4FMFDUJPO HFU4FMFDUJPO
    
    <3FQMBDFBCMF>SFBEPOMZBUUSJCVUF #BS1SPQ MPDBUJPOCBS
    <3FQMBDFBCMF>SFBEPOMZBUUSJCVUF #BS1SPQ NFOVCBS
    <3FQMBDFBCMF>SFBEPOMZBUUSJCVUF #BS1SPQ QFSTPOBMCBS
    <3FQMBDFBCMF>SFBEPOMZBUUSJCVUF #BS1SPQ TDSPMMCBST
    <3FQMBDFBCMF>SFBEPOMZBUUSJCVUF #BS1SPQ TUBUVTCBS
    <3FQMBDFBCMF>SFBEPOMZBUUSJCVUF #BS1SPQ UPPMCBS
    WPJE DMPTF
    
    WPJE GPDVT
    
    WPJE CMVS
    

    PUIFSCSPXTJOHDPOUFYUT
    <3FQMBDFBCMF>SFBEPOMZBUUSJCVUF 8JOEPX1SPYZ GSBNFT
    <3FQMBDFBCMF>SFBEPOMZBUUSJCVUFVOTJHOFEMPOH MFOHUI
    SFBEPOMZBUUSJCVUF 8JOEPX1SPYZ UPQ
    <3FQMBDFBCMF>SFBEPOMZBUUSJCVUF 8JOEPX1SPYZ PQFOFS
    SFBEPOMZBUUSJCVUF 8JOEPX1SPYZ QBSFOU
    SFBEPOMZBUUSJCVUF &MFNFOU GSBNF&MFNFOU
    8JOEPX1SPYZ PQFO JOPQUJPOBM%0.4USJOHVSM JOPQUJPOBM%0.4USJOHUBSHFU JOPQUJPOBM
    %0.4USJOHGFBUVSFT JOPQUJPOBM%0.4USJOHSFQMBDF
    
    HFUUFS 8JOEPX1SPYZ JOVOTJHOFEMPOHJOEFY
    
    HFUUFS 8JOEPX1SPYZ JO%0.4USJOHOBNF
    

    UIFVTFSBHFOU
    SFBEPOMZBUUSJCVUF /BWJHBUPS OBWJHBUPS
    SFBEPOMZBUUSJCVUF "QQMJDBUJPO$BDIF BQQMJDBUJPO$BDIF

    VTFSQSPNQUT
    WPJE BMFSU JO%0.4USJOHNFTTBHF
    
    CPPMFBO DPOGJSN JO%0.4USJOHNFTTBHF
    
    %0.4USJOH QSPNQU JO%0.4USJOHNFTTBHF JOPQUJPOBM%0.4USJOHEFGBVMU
    
    WPJE QSJOU
    
    BOZ TIPX.PEBM%JBMPH JO%0.4USJOHVSM JOPQUJPOBMBOZBSHVNFOU
    

     DSPTTEPDVNFOUNFTTBHJOH
    WPJE QPTU.FTTBHF JOBOZNFTTBHF JO%0.4USJOHUBSHFU0SJHJO
    
    WPJE QPTU.FTTBHF JOBOZNFTTBHF JO%0.4USJOHUBSHFU0SJHJO JO .FTTBHF1PSU"SSBZ QPSUT
    

    
     FWFOUIBOEMFS*%-BUUSJCVUFT
    BUUSJCVUF 'VODUJPO POBCPSU
    BUUSJCVUF 'VODUJPO POBGUFSQSJOU
    BUUSJCVUF 'VODUJPO POCFGPSFQSJOU
    BUUSJCVUF 'VODUJPO POCFGPSFVOMPBE
    BUUSJCVUF 'VODUJPO POCMVS
    BUUSJCVUF 'VODUJPO PODBOQMBZ
    BUUSJCVUF 'VODUJPO PODBOQMBZUISPVHI
    BUUSJCVUF 'VODUJPO PODIBOHF
    BUUSJCVUF 'VODUJPO PODMJDL
    BUUSJCVUF 'VODUJPO PODPOUFYUNFOV
    BUUSJCVUF 'VODUJPO POECMDMJDL
    BUUSJCVUF 'VODUJPO POESBH
    BUUSJCVUF 'VODUJPO POESBHFOE
    BUUSJCVUF 'VODUJPO POESBHFOUFS
    BUUSJCVUF 'VODUJPO POESBHMFBWF
    BUUSJCVUF 'VODUJPO POESBHPWFS
    BUUSJCVUF 'VODUJPO POESBHTUBSU
    BUUSJCVUF 'VODUJPO POESPQ
    BUUSJCVUF 'VODUJPO POEVSBUJPODIBOHF
    BUUSJCVUF 'VODUJPO POFNQUJFE
    BUUSJCVUF 'VODUJPO POFOEFE
    BUUSJCVUF 'VODUJPO POFSSPS
    BUUSJCVUF 'VODUJPO POGPDVT
    BUUSJCVUF 'VODUJPO POGPSNDIBOHF
    BUUSJCVUF 'VODUJPO POGPSNJOQVU
    BUUSJCVUF 'VODUJPO POIBTIDIBOHF
    BUUSJCVUF 'VODUJPO POJOQVU
    BUUSJCVUF 'VODUJPO POJOWBMJE
    BUUSJCVUF 'VODUJPO POLFZEPXO
    BUUSJCVUF 'VODUJPO POLFZQSFTT
    BUUSJCVUF 'VODUJPO POLFZVQ
    BUUSJCVUF 'VODUJPO POMPBE
    BUUSJCVUF 'VODUJPO POMPBEFEEBUB
    BUUSJCVUF 'VODUJPO POMPBEFENFUBEBUB
    BUUSJCVUF 'VODUJPO POMPBETUBSU
    BUUSJCVUF 'VODUJPO PONFTTBHF
    BUUSJCVUF 'VODUJPO PONPVTFEPXO
    BUUSJCVUF 'VODUJPO PONPVTFNPWF
    BUUSJCVUF 'VODUJPO PONPVTFPVU
    BUUSJCVUF 'VODUJPO PONPVTFPWFS
    BUUSJCVUF 'VODUJPO PONPVTFVQ
    BUUSJCVUF 'VODUJPO PONPVTFXIFFM
    BUUSJCVUF 'VODUJPO POPGGMJOF
    BUUSJCVUF 'VODUJPO POPOMJOF
    BUUSJCVUF 'VODUJPO POQBVTF
    BUUSJCVUF 'VODUJPO POQMBZ
    BUUSJCVUF 'VODUJPO POQMBZJOH
    BUUSJCVUF 'VODUJPO POQBHFIJEF
    BUUSJCVUF 'VODUJPO POQBHFTIPX
    BUUSJCVUF 'VODUJPO POQPQTUBUF
    BUUSJCVUF 'VODUJPO POQSPHSFTT
    BUUSJCVUF 'VODUJPO POSBUFDIBOHF
    BUUSJCVUF 'VODUJPO POSFBEZTUBUFDIBOHF
    BUUSJCVUF 'VODUJPO POSFEP
    BUUSJCVUF 'VODUJPO POSFTJ[F
    BUUSJCVUF 'VODUJPO POTDSPMM
    BUUSJCVUF 'VODUJPO POTFFLFE
    BUUSJCVUF 'VODUJPO POTFFLJOH
    BUUSJCVUF 'VODUJPO POTFMFDU
    BUUSJCVUF 'VODUJPO POTIPX
    BUUSJCVUF 'VODUJPO POTUBMMFE
    BUUSJCVUF 'VODUJPO POTUPSBHF

    
    BUUSJCVUF 'VODUJPO POTVCNJU
    BUUSJCVUF 'VODUJPO POTVTQFOE
    BUUSJCVUF 'VODUJPO POUJNFVQEBUF
    BUUSJCVUF 'VODUJPO POVOEP
    BUUSJCVUF 'VODUJPO POVOMPBE
    BUUSJCVUF 'VODUJPO POWPMVNFDIBOHF
    BUUSJCVUF 'VODUJPO POXBJUJOH
    ^
    8JOEPX JNQMFNFOUT &WFOU5BSHFU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    PBG=HP RDI?JR
    PBG=HP AM<H@N K
    PBG=HP N@GA K
    5IFTFBUUSJCVUFTBMMSFUVSO F8=3>F

    PBG=HP ?J>PH@IO K


    3FUVSOTUIF BDUJWFEPDVNFOU Q 

    =H<NF>GM ?@A<PGO4D@R K


    3FUVSOTUIF 8JOEPX Q PCKFDUPGUIF BDUJWFEPDVNFOU Q 

    5IF RDI?JR AM<H@N BOE N@GA *%-BUUSJCVUFTNVTUBMMSFUVSOUIF 8JOEPX Q PCKFDUT CSPXTJOHDPOUFYU Q T
    8JOEPX1SPYZ Q PCKFDU

    5IF ?J>PH@IO *%-BUUSJCVUFNVTUSFUVSOUIF %PDVNFOU Q PCKFDUPGUIF 8JOEPX Q PCKFDUT %PDVNFOU Q T CSPXTJOH
    DPOUFYU Q T BDUJWFEPDVNFOU Q 

    5IF ?@A<PGO4D@R *%-BUUSJCVUFPGUIF )5.-%PDVNFOU Q JOUFSGBDFNVTUSFUVSOUIF %PDVNFOU Q T CSPXTJOHDPOUFYU Q T
    8JOEPX1SPYZ Q PCKFDU

       /?=OLCNS

    6TFSBHFOUTNVTUSBJTFB 4&$63*5:@&33 Q FYDFQUJPOXIFOFWFSBOZPGUIFNFNCFSTPGB 8JOEPX Q PCKFDUBSF


    BDDFTTFECZTDSJQUTXIPTF FЗFDUJWFTDSJQUPSJHJO Q JTOPUUIFTBNFBTUIF 8JOEPX Q PCKFDUT %PDVNFOU Q T FЗFDUJWF
    TDSJQUPSJHJO Q XJUIUIFGPMMPXJOHFYDFQUJPOT

    Ǭ 5IF MPDBUJPO Q PCKFDU

    Ǭ 5IF QPTU.FTTBHF
    Q NFUIPEXJUIUXPBSHVNFOUT

    Ǭ 5IF QPTU.FTTBHF
    Q NFUIPEXJUIUISFFBSHVNFOUT

    Ǭ 5IF GSBNFT Q BUUSJCVUF

    Ǭ 5IF EZOBNJDOFTUFECSPXTJOHDPOUFYUQSPQFSUJFT Q

    8IFOBTDSJQUXIPTF FЗFDUJWFTDSJQUPSJHJO Q JTOPUUIFTBNFBTUIF 8JOEPX Q PCKFDUT %PDVNFOU Q T FЗFDUJWFTDSJQU
    PSJHJO Q BUUFNQUTUPBDDFTTUIBU 8JOEPX Q PCKFDUTNFUIPETPSBUUSJCVUFT UIFVTFSBHFOUNVTUBDUBTJGBOZDIBOHFT
    UPUIF 8JOEPX Q PCKFDUTQSPQFSUJFT HFUUFST TFUUFST FUD XFSFOPUQSFTFOU

    'PSNFNCFSTUIBUSFUVSOPCKFDUT JODMVEJOHGVODUJPOPCKFDUT
    FBDIEJTUJODU FЗFDUJWFTDSJQUPSJHJO Q UIBUJTOPUUIF
    TBNFBTUIF 8JOEPX Q PCKFDUT %PDVNFOU Q T FЗFDUJWFTDSJQUPSJHJO Q NVTUCFQSPWJEFEXJUIBTFQBSBUFTFUPG
    PCKFDUT5IFTFPCKFDUTNVTUIBWFUIFQSPUPUZQFDIBJOBQQSPQSJBUFGPSUIFTDSJQUGPSXIJDIUIFPCKFDUTBSFDSFBUFE OPU
    UIPTFUIBUXPVMECFBQQSPQSJBUFGPSTDSJQUTXIPTF TDSJQUTHMPCBMPCKFDU Q JTUIF 8JOEPX Q PCKFDUJORVFTUJPO
    

    'PSJOTUBODF JGUXPGSBNFTDPOUBJOJOH %PDVNFOU Q TGSPNEJЗFSFOU PSJHJOT Q BDDFTTUIFTBNF 8JOEPX Q
    PCKFDUT QPTU.FTTBHF
    Q NFUIPE UIFZXJMMHFUEJTUJODUPCKFDUTUIBUBSFOPUFRVBM

    
       ,%M@IL=L?;NCHA;H>H;PCA;NCHA<LIQMCHA=IHN?RNM<SH;G?

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    PBG=HP  PBG=HP JK@I K 7 NKE 7
    M:K@>M 7
    ?>:MNK>L 7
    K>IE:<> 8888
    0QFOTBXJOEPXUPTIPX DA; EFGBVMUTUP BCPVUCMBOL Q
    BOESFUVSOTJU5IF C0A64C BSHVNFOUHJWFTUIF
    OBNFPGUIFOFXXJOEPX*GBXJOEPXFYJTUTXJUIUIBUOBNFBMSFBEZ JUJTSFVTFE5IF A4?;024 BUUSJCVUF JG
    USVF NFBOTUIBUXIBUFWFSQBHFJTDVSSFOUMZPQFOJOUIBUXJOEPXXJMMCFSFNPWFEGSPNUIFXJOEPXT
    TFTTJPOIJTUPSZ5IF 540CDA4B BSHVNFOUJTJHOPSFE

    PBG=HP I<H@ K 7 O:EN> 8


    3FUVSOTUIFOBNFPGUIFXJOEPX
    $BOCFTFU UPDIBOHFUIFOBNF

    PBG=HP >GJN@
    $MPTFTUIFXJOEPX

    5IF JK@I NFUIPEPO 8JOEPX Q PCKFDUTQSPWJEFTBNFDIBOJTNGPS OBWJHBUJOH Q BOFYJTUJOH CSPXTJOHDPOUFYU Q PS
    PQFOJOHBOEOBWJHBUJOHBO BVYJMJBSZCSPXTJOHDPOUFYU Q 

    5IFNFUIPEIBTGPVSBSHVNFOUT UIPVHIUIFZBSFBMMPQUJPOBM

    5IFИSTUBSHVNFOU DA; NVTUCFB WBMJE63- Q GPSBQBHFUPMPBEJOUIFCSPXTJOHDPOUFYU*GOPBSHVNFOUTBSF


    QSPWJEFE PSJGUIFИSTUBSHVNFOUJTUIFFNQUZTUSJOH UIFOUIF DA; BSHVNFOUEFGBVMUTUPBCPVUCMBOL Q 5IF
    BSHVNFOUNVTUCF SFTPMWFE Q UPBO BCTPMVUF63- Q PSBOFSSPS
    SFMBUJWFUPUIF FOUSZTDSJQU Q T CBTF63- Q XIFO
    UIFNFUIPEJTJOWPLFE

    5IFTFDPOEBSHVNFOU C0A64C TQFDJИFTUIF OBNF Q PGUIFCSPXTJOHDPOUFYUUIBUJTUPCFOBWJHBUFE*UNVTUCFB WBMJE


    CSPXTJOHDPOUFYUOBNFPSLFZXPSE Q *GGFXFSUIBOUXPBSHVNFOUTBSFQSPWJEFE UIFOUIF =0<4 BSHVNFOUEFGBVMUTUP
    UIFWBMVF@CMBOL

    5IFUIJSEBSHVNFOU 540CDA4B IBTOPFЗFDUBOEJTTVQQPSUFEGPSIJTUPSJDBMSFBTPOTPOMZ

    5IFGPVSUIBSHVNFOU A4?;024 TQFDJИFTXIFUIFSPSOPUUIFOFXQBHFXJMM SFQMBDF Q UIFQBHFDVSSFOUMZMPBEFEJOUIF


    CSPXTJOHDPOUFYU XIFO C0A64C JEFOUJИFTBOFYJTUJOHCSPXTJOHDPOUFYU BTPQQPTFEUPMFBWJOHUIFDVSSFOUQBHFJOUIF
    CSPXTJOHDPOUFYUT TFTTJPOIJTUPSZ Q
    8IFOUISFFPSGFXFSBSHVNFOUTBSFQSPWJEFE A4?;024 EFGBVMUTUPGBMTF

    8IFOUIFNFUIPEJTJOWPLFE UIFVTFSBHFOUNVTUИSTUTFMFDUB CSPXTJOHDPOUFYU Q UPOBWJHBUFCZBQQMZJOH UIFSVMFT


    GPSDIPPTJOHBCSPXTJOHDPOUFYUHJWFOBCSPXTJOHDPOUFYUOBNF Q VTJOHUIF C0A64C BSHVNFOUBTUIFOBNFBOEUIF
    CSPXTJOHDPOUFYU Q PGUIFTDSJQUBTUIFDPOUFYUJOXIJDIUIFBMHPSJUINJTFYFDVUFE VOMFTTUIFVTFSIBTJOEJDBUFEB
    QSFGFSFODF JOXIJDIDBTFUIFCSPXTJOHDPOUFYUUPOBWJHBUFNBZJOTUFBECFUIFPOFJOEJDBUFECZUIFVTFS

    'PSFYBNQMF TVQQPTFUIFSFJTBVTFSBHFOUUIBUTVQQPSUTDPOUSPMDMJDLJOHBMJOLUPPQFOJUJOBOFXUBC*GBVTFS
    DMJDLTJOUIBUVTFSBHFOUPOBOFMFNFOUXIPTF PODMJDL Q IBOEMFSVTFTUIF XJOEPXPQFO
    Q "1*UPPQFOB
    QBHFJOBOJGSBNF CVU XIJMFEPJOHTP IPMETUIFDPOUSPMLFZEPXO UIFVTFSBHFOUDPVMEPWFSSJEFUIFTFMFDUJPOPG
    UIFUBSHFUCSPXTJOHDPOUFYUUPJOTUFBEUBSHFUBOFXUBC

    5IFO UIFVTFSBHFOUNVTU OBWJHBUF Q UIFTFMFDUFE CSPXTJOHDPOUFYU Q UPUIF BCTPMVUF63- Q PSFSSPS
    PCUBJOFE
    GSPN SFTPMWJOH Q DA; FBSMJFS*GUIF A4?;024 JTUSVF UIFO SFQMBDFNFOUNVTUCFFOBCMFE Q PUIFSXJTF JUNVTUOPUCF
    FOBCMFEVOMFTTUIF CSPXTJOHDPOUFYU Q XBTKVTUDSFBUFEBTQBSUPG UIFSVMFTGPSDIPPTJOHBCSPXTJOHDPOUFYUHJWFOB
    CSPXTJOHDPOUFYUOBNF Q 5IFOBWJHBUJPONVTUCFEPOFXJUIUIF CSPXTJOHDPOUFYU Q PGUIF FOUSZTDSJQU Q BTUIF
    TPVSDFCSPXTJOHDPOUFYU Q 

    5IFNFUIPENVTUSFUVSOUIF 8JOEPX1SPYZ Q PCKFDUPGUIF CSPXTJOHDPOUFYU Q UIBUXBTOBWJHBUFE PSOVMMJGOP


    CSPXTJOHDPOUFYUXBTOBWJHBUFE

    5IF I<H@ BUUSJCVUFPGUIF 8JOEPX Q PCKFDUNVTU POHFUUJOH SFUVSOUIFDVSSFOUOBNFPGUIF CSPXTJOHDPOUFYU Q BOE
    POTFUUJOH TFUUIFOBNFPGUIF CSPXTJOHDPOUFYU Q UPUIFOFXWBMVF

    *HM> 0A>G:F> @>MLK>L>M I PA>GMA>;KHPLBG@<HGM>QMBLG:OB@:M>=MH:GHMA>K=HF:BG

    5IF >GJN@ NFUIPEPO 8JOEPX Q PCKFDUTTIPVME JGUIFDPSSFTQPOEJOH CSPXTJOHDPOUFYU Q  JTBO BVYJMJBSZCSPXTJOH
    DPOUFYU Q UIBUXBTDSFBUFECZBTDSJQU BTPQQPTFEUPCZBOBDUJPOPGUIFVTFS
    BOEJGUIF CSPXTJOHDPOUFYU Q PGUIF

    
    TDSJQU Q UIBUJOWPLFTUIFNFUIPEJT BMMPXFEUPOBWJHBUF Q UIF CSPXTJOHDPOUFYU Q  DMPTFUIF CSPXTJOHDPOUFYU Q
     BOENBZ EJTDBSE Q JUUPP
    

       ==?MMCHAINB?L<LIQMCHA=IHN?RNM

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    PBG=HP G@IBOC K
    3FUVSOTUIFOVNCFSPG DIJMECSPXTJOHDPOUFYUT Q 

    PBG=HP7BG=>Q8
    3FUVSOTUIFJOEJDBUFE DIJMECSPXTJOHDPOUFYU Q 

    5IF G@IBOC *%-BUUSJCVUFPOUIF 8JOEPX Q JOUFSGBDFNVTUSFUVSOUIFOVNCFSPG DIJMECSPXTJOHDPOUFYUT Q UIBUBSF


    OFTUFEUISPVHI Q FMFNFOUTUIBUBSF JOUIF %PDVNFOU Q UIBUJTUIF BDUJWFEPDVNFOU Q PGUIBU 8JOEPX Q PCKFDU JG
    UIBU 8JOEPX Q T CSPXTJOHDPOUFYU Q TIBSFTUIFTBNF FWFOUMPPQ Q BTUIF TDSJQUTCSPXTJOHDPOUFYU Q PGUIF FOUSZ
    TDSJQU Q BDDFTTJOHUIF*%-BUUSJCVUFPUIFSXJTF JUNVTUSFUVSO[FSP

    5IF JOEJDFTPGUIFTVQQPSUFEJOEFYFEQSPQFSUJFT POUIF 8JOEPX Q PCKFDUBUBOZJOTUBOUBSFUIFOVNCFSTJOUIFSBOHF


     = XIFSF = JTUIFOVNCFSSFUVSOFECZUIF MFOHUI Q *%-BUUSJCVUF*G = JT[FSPUIFOUIFSFBSFOP TVQQPSUFEJOEFYFE
    QSPQFSUJFT

    8IFOB 8JOEPX Q PCKFDUJT CH>?R?>NIL?NLC?P?;HCH>?R?>JLIJ?LNS 8=34G UIFWBMVFSFUVSOFENVTUCFUIF


    8=34GUI DIJMECSPXTJOHDPOUFYU Q PGUIF %PDVNFOU Q UIBUJTOFTUFEUISPVHIBOFMFNFOUUIBUJT JOUIF %PDVNFOU Q
    TPSUFEJOUIF USFFPSEFS Q PGUIFFMFNFOUTOFTUJOHUIPTF CSPXTJOHDPOUFYUT Q 

    5IFTFQSPQFSUJFTBSFUIF >SH;GC=H?MN?><LIQMCHA=IHN?RNJLIJ?LNC?M

       *;G?>;==?MMIHNB? 5DI?JR K I<D?=N

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    PBG=HP7G:F>8
    3FUVSOTUIFJOEJDBUFE DIJMECSPXTJOHDPOUFYU Q 

    5IF 8JOEPX Q JOUFSGBDF TVQQPSUTOBNFEQSPQFSUJFT5IF OBNFTPGUIFTVQQPSUFEOBNFEQSPQFSUJFT BUBOZNPNFOU


    DPOTJTUPG

    Ǭ UIFWBMVFPGUIF OBNF DPOUFOUBUUSJCVUFGPSBMM B Q BQQMFU Q BSFB Q FNCFE Q GPSN Q GSBNF Q
    GSBNFTFU Q JGSBNF Q JNH Q BOE PCKFDU Q FMFNFOUTJOUIF BDUJWFEPDVNFOU Q UIBUIBWFB OBNF
    DPOUFOUBUUSJCVUF BOE

    Ǭ UIFWBMVFPGUIF JE Q DPOUFOUBUUSJCVUFPGBOZ )5.-FMFNFOU Q JOUIF BDUJWFEPDVNFOU Q XJUIBO JE Q
    DPOUFOUBUUSJCVUF

    8IFO NB? 5DI?JR I<D?=NCMCH>?R?>@ILJLIJ?LNSL?NLC?P;F VTJOHBOBNF =0<4 UIFOUIFVTFSBHFOUNVTUSFUVSO


    UIFWBMVFPCUBJOFEVTJOHUIFGPMMPXJOHTUFQT

     -FU 4;4<4=CB CFUIFMJTUPG OBNFEFMFNFOUT Q XJUIUIFOBNF =0<4 JOUIF BDUJWFEPDVNFOU Q 

    *HM> 0A>K>PBEE;>:ME>:LMHG>LN<A>E>F>GM ;R=>[GBMBHG

     *G 4;4<4=CB DPOUBJOTBO JGSBNF Q FMFNFOU UIFOSFUVSOUIF 8JOEPX1SPYZ Q PCKFDUPGUIF OFTUFECSPXTJOH
    DPOUFYU Q SFQSFTFOUFECZUIFИSTUTVDI JGSBNF Q FMFNFOUJO USFFPSEFS Q BOEBCPSUUIFTFTUFQT

     0UIFSXJTF JG 4;4<4=CB IBTPOMZPOFFMFNFOU SFUVSOUIBUFMFNFOUBOEBCPSUUIFTFTUFQT

     0UIFSXJTFSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZ OBNFE


    FMFNFOUT Q XJUIUIFOBNF =0<4

    *;G?>?F?G?HNM XJUIUIFOBNF =0<4 GPSUIFQVSQPTFTPGUIFBCPWFBMHPSJUIN BSFUIPTFUIBUBSFFJUIFS

    
    Ǭ B Q BQQMFU Q BSFB Q FNCFE Q GPSN Q GSBNF Q GSBNFTFU Q JGSBNF Q JNH Q PS PCKFDU Q
    FMFNFOUTUIBUIBWFB OBNF DPOUFOUBUUSJCVUFXIPTFWBMVFJT =0<4 PS

    Ǭ )5.-FMFNFOUT Q FMFNFOUTUIBUIBWFBO JE Q DPOUFOUBUUSJCVUFXIPTFWBMVFJT =0<4

       #;L<;A?=IFF?=NCIH;H><LIQMCHA=IHN?RNM

    " CSPXTJOHDPOUFYU Q IBTBTUSPOHSFGFSFODFUPFBDIPGJUT %PDVNFOU Q TBOEJUT 8JOEPX1SPYZ Q PCKFDU BOEUIFVTFS
    BHFOUJUTFMGIBTBTUSPOHSFGFSFODFUPJUT UPQMFWFMCSPXTJOHDPOUFYUT Q 

    " %PDVNFOU Q IBTBTUSPOHSFGFSFODFUPJUT 8JOEPX Q PCKFDU

    *HM>  5BG=HP I H;C><M A:L:LMKHG@K>?>K>G<> I MHBML #H<NF>GM I H;C><MMAKHN@ABML =H<NF>GM I
    :MMKB;NM> 0ANL K>?>K>G<>L?KHFHMA>KL<KBIMLMH>BMA>KH?MAHL>H;C><MLPBEED>>I;HMA:EBO>
    /BFBE:KER ;HMA #H<NF>GM I :G= 5BG=HP I H;C><MLA:O> BFIEB>=LMKHG@K>?>K>G<>L I MHMA>
    5BG=HP.KHQR I H;C><M

    &BDI TDSJQU Q IBTBTUSPOHSFGFSFODFUPJUT CSPXTJOHDPOUFYU Q BOEJUT EPDVNFOU Q 

    8IFOB CSPXTJOHDPOUFYU Q JTUP >CM=;L>; "J>PH@IO UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     4FUUIF %PDVNFOU Q T B0;E06401;4 TUBUFUPGBMTF

     3VOBOZ VOMPBEJOHEPDVNFOUDMFBOVQTUFQT Q GPSUIF %PDVNFOU Q UIBUBSFEFИOFECZUIJTTQFDJИDBUJPOPS


    BOZPUIFSSFMFWBOUTQFDJИDBUJPOT

     3FNPWFBOZ UBTLT Q BTTPDJBUFEXJUIUIF %PDVNFOU Q JOBOZ UBTLTPVSDF Q XJUIPVUSVOOJOHUIPTFUBTLT

     %JTDBSE Q BMMUIF DIJMECSPXTJOHDPOUFYUT Q PGUIF %PDVNFOU Q 

     -PTFUIFTUSPOHSFGFSFODFGSPNUIF %PDVNFOU Q T CSPXTJOHDPOUFYU Q UPUIF %PDVNFOU Q 

    *HM> 3A>G>O>K: #H<NF>GM I H;C><MBL =BL<:K=>= I BMBL:ELHK>FHO>=?KHFMA>EBLMH? MA>


    PHKD>KL #H<NF>GM I L H?>:<APHKD>KPAHL>EBLM<HGM:BGLMA:M #H<NF>GM I

    8IFO ; ;KHPLBG@<HGM>QM CM>CM=;L>?> UIFTUSPOHSFGFSFODFGSPNUIFVTFSBHFOUJUTFMGUPUIF CSPXTJOHDPOUFYU Q


    NVTUCFTFWFSFE BOEBMMUIF %PDVNFOU Q PCKFDUTGPSBMMUIFFOUSJFTJOUIF CSPXTJOHDPOUFYU Q TTFTTJPOIJTUPSZNVTU
    CF EJTDBSEFE Q BTXFMM

    6TFSBHFOUTNBZ EJTDBSE Q UPQMFWFMCSPXTJOHDPOUFYUT Q BUBOZUJNF UZQJDBMMZ JOSFTQPOTFUPVTFSSFRVFTUT FH


    XIFOBVTFSDMPTFTBXJOEPXDPOUBJOJOHPOFPSNPSF UPQMFWFMCSPXTJOHDPOUFYUT Q
    0UIFS CSPXTJOHDPOUFYUT Q
    NVTUCFEJTDBSEFEPODFUIFJS 8JOEPX1SPYZ Q PCKFDUJTFMJHJCMFGPSHBSCBHFDPMMFDUJPO

       LIQM?LCHN?L@;=??F?G?HNM

    5PBMMPX8FCQBHFTUPJOUFHSBUFXJUI8FCCSPXTFST DFSUBJO8FCCSPXTFSJOUFSGBDFFMFNFOUTBSFFYQPTFEJOBMJNJUFE
    XBZUPTDSJQUTJO8FCQBHFT

    &BDIJOUFSGBDFFMFNFOUJTSFQSFTFOUFECZB #BS1SPQ Q PCKFDU

    JOUFSGBDF <M.MJK \
    BUUSJCVUFCPPMFBO WJTJCMF
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    PBG=HP GJ><ODJI=<M K QDND=G@ K
    3FUVSOTUSVFJGUIFMPDBUJPOCBSJTWJTJCMFPUIFSXJTF SFUVSOTGBMTF

    PBG=HP H@IP=<M K QDND=G@ K


    3FUVSOTUSVFJGUIFNFOVCBSJTWJTJCMFPUIFSXJTF SFUVSOTGBMTF

    
    PBG=HP K@MNJI<G=<M K QDND=G@ K
    3FUVSOTUSVFJGUIFQFSTPOBMCBSJTWJTJCMFPUIFSXJTF SFUVSOTGBMTF

    PBG=HP N>MJGG=<MN K QDND=G@ K


    3FUVSOTUSVFJGUIFTDSPMMCBSTBSFWJTJCMFPUIFSXJTF SFUVSOTGBMTF

    PBG=HP NO<OPN=<M K QDND=G@ K


    3FUVSOTUSVFJGUIFTUBUVTCBSJTWJTJCMFPUIFSXJTF SFUVSOTGBMTF

    PBG=HP OJJG=<M K QDND=G@ K


    3FUVSOTUSVFJGUIFUPPMCBSJTWJTJCMFPUIFSXJTF SFUVSOTGBMTF

    5IF PCMC<F? BUUSJCVUF POHFUUJOH NVTUSFUVSOFJUIFSUSVFPSBWBMVFEFUFSNJOFECZUIFVTFSBHFOUUPNPTUBDDVSBUFMZ


    SFQSFTFOUUIFWJTJCJMJUZTUBUFPGUIFVTFSJOUFSGBDFFMFNFOUUIBUUIFPCKFDUSFQSFTFOUT BTEFTDSJCFECFMPX0OTFUUJOH
    UIFOFXWBMVFNVTUCFEJTDBSEFE

    5IFGPMMPXJOH #BS1SPQ Q PCKFDUTFYJTUGPSFBDI %PDVNFOU Q PCKFDUJOB CSPXTJOHDPOUFYU Q 4PNFPGUIFVTFS
    JOUFSGBDFFMFNFOUTSFQSFTFOUFECZUIFTFPCKFDUTNJHIUIBWFOPFRVJWBMFOUJOTPNFVTFSBHFOUTGPSUIPTFVTFSBHFOUT
    FYDFQUXIFOPUIFSXJTFTQFDJИFE UIFPCKFDUNVTUBDUBTJGJUXBTQSFTFOUBOEWJTJCMF JFJUT WJTJCMF Q BUUSJCVUFNVTU
    SFUVSOUSVF
    

    0A>EH<:MBHG;:K !:K.KHI H;C><M


    3FQSFTFOUTUIFVTFSJOUFSGBDFFMFNFOUUIBUDPOUBJOTBDPOUSPMUIBUEJTQMBZTUIF 63- Q PGUIF BDUJWF
    EPDVNFOU Q PSTPNFTJNJMBSJOUFSGBDFDPODFQU

    0A>F>GN;:K !:K.KHI H;C><M


    3FQSFTFOUTUIFVTFSJOUFSGBDFFMFNFOUUIBUDPOUBJOTBMJTUPGDPNNBOETJONFOVGPSN PSTPNFTJNJMBSJOUFSGBDF
    DPODFQU

    0A>I>KLHG:E;:K !:K.KHI H;C><M


    3FQSFTFOUTUIFVTFSJOUFSGBDFFMFNFOUUIBUDPOUBJOTMJOLTUPUIFVTFSTGBWPSJUFQBHFT PSTPNFTJNJMBSJOUFSGBDF
    DPODFQU

    0A>L<KHEE;:K !:K.KHI H;C><M


    3FQSFTFOUTUIFVTFSJOUFSGBDFFMFNFOUUIBUDPOUBJOTBTDSPMMJOHNFDIBOJTN PSTPNFTJNJMBSJOUFSGBDFDPODFQU

    0A>LM:MNL;:K !:K.KHI H;C><M


    3FQSFTFOUTBVTFSJOUFSGBDFFMFNFOUGPVOEJNNFEJBUFMZCFMPXPSBGUFSUIFEPDVNFOU BTBQQSPQSJBUFGPSUIF
    VTFSTNFEJB*GUIFVTFSBHFOUIBTOPTVDIVTFSJOUFSGBDFFMFNFOU UIFOUIFPCKFDUNBZBDUBTJGUIF
    DPSSFTQPOEJOHVTFSJOUFSGBDFFMFNFOUXBTBCTFOU JFJUT WJTJCMF Q BUUSJCVUFNBZSFUVSOGBMTF
    

    0A>MHHE;:K !:K.KHI H;C><M


    3FQSFTFOUTUIFVTFSJOUFSGBDFFMFNFOUGPVOEJNNFEJBUFMZBCPWFPSCFGPSFUIFEPDVNFOU BTBQQSPQSJBUFGPSUIF
    VTFSTNFEJB*GUIFVTFSBHFOUIBTOPTVDIVTFSJOUFSGBDFFMFNFOU UIFOUIFPCKFDUNBZBDUBTJGUIF
    DPSSFTQPOEJOHVTFSJOUFSGBDFFMFNFOUXBTBCTFOU JFJUT WJTJCMF Q BUUSJCVUFNBZSFUVSOGBMTF
    

    5IF GJ><ODJI=<M BUUSJCVUFNVTUSFUVSO UIFMPDBUJPOCBS #BS1SPQ PCKFDU Q 

    5IF H@IP=<M BUUSJCVUFNVTUSFUVSO UIFNFOVCBS #BS1SPQ PCKFDU Q 

    5IF K@MNJI<G=<M BUUSJCVUFNVTUSFUVSO UIFQFSTPOBMCBS #BS1SPQ PCKFDU Q 

    5IF N>MJGG=<MN BUUSJCVUFNVTUSFUVSO UIFTDSPMMCBS #BS1SPQ PCKFDU Q 

    5IF NO<OPN=<M BUUSJCVUFNVTUSFUVSO UIFTUBUVTCBS #BS1SPQ PCKFDU Q 

    5IF OJJG=<M BUUSJCVUFNVTUSFUVSO UIFUPPMCBS #BS1SPQ PCKFDU Q 

       0B? 5DI?JR.MJST K I<D?=N

    "TNFOUJPOFEFBSMJFS FBDI CSPXTJOHDPOUFYU Q IBTB 5DI?JR.MJST PCKFDU5IJTPCKFDUJTVOVTVBMJOUIBUBMMPQFSBUJPOT


    UIBUXPVMECFQFSGPSNFEPOJUNVTUCFQFSGPSNFEPOUIF 8JOEPX Q PCKFDUPGUIF CSPXTJOHDPOUFYU Q T BDUJWF
    EPDVNFOU Q JOTUFBE*UJTUIVTJOEJTUJOHVJTIBCMFGSPNUIBU 8JOEPX Q PCKFDUJOFWFSZXBZVOUJMUIF CSPXTJOH
    DPOUFYU Q JTOBWJHBUFE

    
    5IFSFJTOP 8JOEPX1SPYZ Q JOUFSGBDFPCKFDU

    *HM> 0A> 5BG=HP.KHQR I H;C><M:EEHPLL<KBIMLMH:<M:LB?>:<A ;KHPLBG@<HGM>QM I A:=:LBG@E>


    5BG=HP I H;C><M PABE>LMBEED>>IBG@L>I:K:M> 5BG=HP I H;C><ML?HK>:<A #H<NF>GM I

    *OUIFGPMMPXJOHFYBNQMF UIFWBSJBCMF G JTTFUUPUIF 8JOEPX1SPYZ Q PCKFDUSFUVSOFECZUIF XJOEPX Q BDDFTTPS


    POUIFHMPCBMPCKFDU"MMPGUIFFYQSFTTJPOTGPMMPXJOHUIFBTTJHONFOUSFUVSOUSVF CFDBVTFJOFWFSZSFTQFDU UIF
    8JOEPX1SPYZ Q PCKFDUBDUTMJLFUIFVOEFSMZJOH 8JOEPX Q PCKFDU

    WBSYXJOEPX
    YJOTUBODFPG8JOEPXUSVF
    YUIJTUSVF

      +LCACH

    5IF ILCACH PGBSFTPVSDFBOEUIF ?\?=NCP?M=LCJNILCACH PGBSFTPVSDFBSFCPUIFJUIFSPQBRVFJEFOUJИFSTPSUVQMFT


    DPOTJTUJOHPGBTDIFNFDPNQPOFOU BIPTUDPNQPOFOU BQPSUDPNQPOFOU BOEPQUJPOBMMZFYUSBEBUB

    *HM> 0A>>QMK:=:M:<HNE=BG<EN=>MA><>KMB[<:M>H?MA>LBM>PA>GNLBG@>G<KRIM>=<HGG><MBHGL
    MH>GLNK>MA:MB?MA>LBM>LL><NK><>KMB[<:M><A:G@>L MA>HKB@BGBL<HGLB=>K>=MH<A:G@>:LP>EE

    5IFTFDIBSBDUFSJTUJDTBSFEFИOFEBTGPMMPXT

    "IL1.(M
    5IF PSJHJO Q BOE FЗFDUJWFTDSJQUPSJHJO Q PGUIF 63- Q JTXIBUFWFSJTSFUVSOFECZUIFGPMMPXJOHBMHPSJUIN

     -FU DA; CFUIF 63- Q GPSXIJDIUIF PSJHJO Q JTCFJOHEFUFSNJOFE

     1BSTF Q DA;

     *G DA; JEFOUJИFTBSFTPVSDFUIBUJTJUTPXOUSVTUEPNBJO FHJUJEFOUJИFTBOFNBJMPOBO*."1TFSWFSPSB


    QPTUPOBO//51TFSWFS
    UIFOSFUVSOBHMPCBMMZVOJRVFJEFOUJИFSTQFDJИDUPUIFSFTPVSDFJEFOUJИFECZ
    DA; TPUIBUJGUIJTBMHPSJUINJTJOWPLFEBHBJOGPS 63-T Q UIBUJEFOUJGZUIFTBNFSFTPVSDF UIFTBNF
    JEFOUJИFSXJMMCFSFUVSOFE

     *G DA; EPFTOPUVTFBTFSWFSCBTFEOBNJOHBVUIPSJUZ PSJGQBSTJOH DA; GBJMFE PSJG DA; JTOPUBO BCTPMVUF


    63- Q UIFOSFUVSOBOFXHMPCBMMZVOJRVFJEFOUJИFS

     -FU B274<4 CFUIF TDIFNF Q DPNQPOFOUPG DA; DPOWFSUFEUP"4$**MPXFSDBTF Q 

     *GUIF6"EPFTOUTVQQPSUUIFQSPUPDPMHJWFOCZ B274<4 UIFOSFUVSOBOFXHMPCBMMZVOJRVFJEFOUJИFS

     *G B274<4 JTGJMF UIFOUIFVTFSBHFOUNBZSFUVSOB6"TQFDJИDWBMVF

     -FU 7>BC CFUIF IPTU Q DPNQPOFOUPG DA;

     "QQMZUIF*%/"5P"4$**BMHPSJUINUP 7>BC XJUICPUIUIF"MMPX6OBTTJHOFEBOE6TF45%"4$**3VMFTЙBHT


    TFU-FU 7>BC CFUIFSFTVMUPGUIF5P"4$**BMHPSJUIN

    *G5P"4$**GBJMTUPDPOWFSUPOFPGUIFDPNQPOFOUTPGUIFTUSJOH FHCFDBVTFJUJTUPPMPOHPSCFDBVTFJU
    DPOUBJOTJOWBMJEDIBSBDUFST UIFOSFUVSOBOFXHMPCBMMZVOJRVFJEFOUJИFS <3'$> Q

     -FU 7>BC CFUIFSFTVMUPGDPOWFSUJOH 7>BC UP"4$**MPXFSDBTF Q 

     *GUIFSFJTOP QPSU Q DPNQPOFOU UIFOMFU ?>AC CFUIFEFGBVMUQPSUGPSUIFQSPUPDPMHJWFOCZ B274<4


    0UIFSXJTF MFU ?>AC CFUIF QPSU Q DPNQPOFOUPG DA;

     3FUVSOUIFUVQMF B274<4 7>BC ?>AC


    

    *OBEEJUJPO JGUIF 63- Q JTJOGBDUBTTPDJBUFEXJUIB %PDVNFOU Q PCKFDUUIBUXBTDSFBUFECZQBSTJOHUIFSFTPVSDF


    PCUBJOFEGSPNGFUDIJOH 63- Q BOEUIJTXBTEPOFPWFSBTFDVSFDPOOFDUJPO UIFOUIFTFSWFSTTFDVSFDFSUJИDBUF
    NBZCFBEEFEUPUIFPSJHJOBTBEEJUJPOBMEBUB

    "ILM=LCJNM
    5IF PSJHJO Q BOE FЗFDUJWFTDSJQUPSJHJO Q PGBTDSJQUBSFEFUFSNJOFEGSPNBOPUIFSSFTPVSDF DBMMFEUIF >F=4A
    K
    X %@;M=LCJNCMCH; N>MDKO ?F?G?HN
    5IFPXOFSJTUIF %PDVNFOU Q UPXIJDIUIF TDSJQU Q FMFNFOUCFMPOHT

    
    J
    X %@;M=LCJNCMCH;H ?P?HNB;H>F?L=IHN?HN;NNLC<ON?
    Q
    5IFPXOFSJTUIF %PDVNFOU UPXIJDIUIFBUUSJCVUFOPEFCFMPOHT
    X %@;M=LCJNCM;@OH=NCIHILINB?L=I>?L?@?L?H=?=L?;N?><S;HINB?LM=LCJN
    5IFPXOFSJTUIFTDSJQUUIBUDSFBUFEJU
    J
    X %@;M=LCJNCM; E<Q<N>MDKO 1.( NB;NQ;ML?NOLH?>;MNB?FI=;NCIHI@;H$00,L?>CL?=NIL
    J
    ?KOCP;F?HN CHINB?LJLINI=IFM
    5IFPXOFSJTUIF 63- Q UIBUSFEJSFDUFEUPUIF KBWBTDSJQU 63- Q 
    J
    X %@;M=LCJNCM; E<Q<N>MDKO 1.( CH;H;NNLC<ON?
    Q
    5IFPXOFSJTUIF %PDVNFOU PGUIFFMFNFOUPOXIJDIUIFBUUSJCVUFJTGPVOE
    J
    X %@;M=LCJNCM; E<Q<N>MDKO 1.( CH;MNSF?MB??N
    Q
    5IFPXOFSJTUIF 63- PGUIFTUZMFTIFFU
    J
    X %@;M=LCJNCM; E<Q<N>MDKO 1.( NIQBC=B; <LIQMCHA=IHN?RN J CM<?CHA H;PCA;N?> J
    NB?
    1.(B;PCHA<??HJLIPC>?><SNB?OM?L? A <SOMCHA; ;HHDF:KDE>M
    5IFPXOFSJTUIF %PDVNFOU Q PGUIF CSPXTJOHDPOUFYU Q T BDUJWFEPDVNFOU Q 
    J
    X %@;M=LCJNCM; E<Q<N>MDKO 1.( NIQBC=B; <LIQMCHA=IHN?RN J CM<?CHA H;PCA;N?> J
    NB?
    1.(B;PCHA<??H>?=F;L?>CHG;LEOJ
    5IFPXOFSJTUIF %PDVNFOU Q PGUIFFMFNFOU FHBO B Q PS BSFB Q FMFNFOU
    UIBUEFDMBSFEUIF63-
    J
    X %@;M=LCJNCM; E<Q<N>MDKO 1.( NIQBC=B; <LIQMCHA=IHN?RN J CM<?CHA H;PCA;N?> J
    NB?
    1.(B;PCHA<??HJLIPC>?><SM=LCJN
    5IFPXOFSJTUIFTDSJQUUIBUQSPWJEFEUIF63-

    5IF PSJHJO Q PGUIFTDSJQUJTUIFOFRVBMUPUIF PSJHJO Q PGUIFPXOFS BOEUIF FЗFDUJWFTDSJQUPSJHJO Q PGUIF
    TDSJQUJTFRVBMUPUIF FЗFDUJWFTDSJQUPSJHJO Q PGUIFPXOFS

    "IL "J>PH@IO K I<D?=NM;H>CG;A?M


    K
    X %@; "J>PH@IO CMCH; <LIQMCHA=IHN?RN J QBIM? M;H><IR?>ILCACH<LIQMCHA=IHN?RN^;A J Q;M
    M?NQB?HNB? "J>PH@IO K Q;M=L?;N?>
    K
    X %@; "J>PH@IO Q;MA?H?L;N?>@LIG;L?MIOL=?F;<?F?>;M O@SOCOHG N<I?=JS@? K
    Q
    5IF PSJHJO JTBHMPCBMMZVOJRVFJEFOUJИFSBTTJHOFEXIFOUIF %PDVNFOU Q JTDSFBUFE
    K
    X %@; "J>PH@IO ILCG;A?Q;ML?NOLH?><SNB? 6+*&OOK0@LP@NO ,%
    5IF PSJHJO Q JTFRVBMUPUIF 9.-)UUQ3FRVFTUPSJHJO PGUIF 9.-)UUQ3FRVFTU PCKFDU <9)3> Q
    K
    X %@; "J>PH@IO ILCG;A?Q;MA?H?L;N?>@LIG; E<Q<N>MDKO 1.( J
    Q
    5IF PSJHJO JTFRVBMUPUIF PSJHJO Q PGUIFTDSJQUPGUIBU KBWBTDSJQU 63- Q 
    K
    X %@; "J>PH@IO ILCG;A?Q;MM?LP?>IP?LNB?H?NQILE;H>B;M;H;>>L?MMNB;NOM?M;1.(
    M=B?G?QCNB;M?LP?L <;M?>H;GCHA;ONBILCNS
    5IF PSJHJO Q JTUIF PSJHJO Q PGUIF BEESFTT Q PGUIF %PDVNFOU Q PSUIF 63- Q PGUIFJNBHF BT
    BQQSPQSJBUF
    K
    X %@; "J>PH@IO ILCG;A?Q;MA?H?L;N?>@LIG; ?<O< 1.(NB;NQ;ML?NOLH?>;MNB?FI=;NCIHI@;H
    $00,L?>CL?=NIL?KOCP;F?HN J CHINB?LJLINI=IFM
    5IF PSJHJO Q JTUIF PSJHJO Q PGUIF 63- Q UIBUSFEJSFDUFEUPUIF EBUB 63-
    K
    X %@; "J>PH@IO ILCG;A?Q;MA?H?L;N?>@LIG; ?<O< 1.(@IOH>CH;HINB?L "J>PH@IO K ILCH;
    M=LCJN
    5IF PSJHJO Q JTUIF PSJHJO Q PGUIF %PDVNFOU Q PSTDSJQUUIBUJOJUJBUFEUIF OBWJHBUJPO Q UPUIBU
    63- Q 
    K
    X %@; "J>PH@IO B;MNB? ;>>L?MM J <=JPO=G<IF K 
    Q
    5IF PSJHJO PGUIF %PDVNFOU Q JT UIF PSJHJO JUXBTBTTJHOFEXIFOJUTCSPXTJOHDPOUFYUXBT
    Q
    DSFBUFE 
    K
    X %@; "J>PH@IO CM ;H DAM<H@ NM>?J> >I=OG?HN J
    Q
    5IF PSJHJO PGUIF %PDVNFOU Q JTUIF PSJHJO Q PGUIF %PDVNFOU Q T CSPXTJOHDPOUFYU Q T CSPXTJOH
    DPOUFYUDPOUBJOFS Q T %PDVNFOU Q 
    K
    X %@; "J>PH@IO ILCG;A?Q;MI<N;CH?>CHMIG?INB?LG;HH?L? A ; ?<O< 1.(NSJ?>CH<SNB?
    OM?L
    ; "J>PH@IO K =L?;N?>OMCHANB? >M@<O@"J>PH@IO K ,%
    ?N=
    5IF PSJHJO Q JTBHMPCBMMZVOJRVFJEFOUJИFSBTTJHOFEXIFOUIF %PDVNFOU Q PSJNBHFJTDSFBUFE

    8IFOB %PDVNFOU Q JTDSFBUFE JUT FЗFDUJWFTDSJQUPSJHJO Q JTJOJUJBMJ[FEUPUIF PSJHJO Q PGUIF %PDVNFOU Q 
    )PXFWFS UIF EPDVNFOUEPNBJO Q BUUSJCVUFDBOCFVTFEUPDIBOHFJU

    "IL <P?DJ K ;H> QD?@J K ?F?G?HNM


    *GWBMVFPGUIF NFEJBFMFNFOU Q T DVSSFOU4SD Q BUUSJCVUFJTUIFFNQUZTUSJOH UIF PSJHJO Q JTUIFTBNFBTUIF
    PSJHJO Q PGUIFFMFNFOUT %PDVNFOU Q T PSJHJO Q 

    
    0UIFSXJTF UIF PSJHJO Q JTFRVBMUPUIF PSJHJO Q PGUIF BCTPMVUF63- Q HJWFOCZUIF NFEJBFMFNFOU Q T
    DVSSFOU4SD Q BUUSJCVUF

    5IF 1HC=I>?M?LC;FCT;NCIHI@;HILCACH JTUIFTUSJOHPCUBJOFECZBQQMZJOHUIFGPMMPXJOHBMHPSJUINUPUIFHJWFO


    PSJHJO Q 

     *GUIF PSJHJO Q JORVFTUJPOJTOPUBTDIFNFIPTUQPSUUVQMF UIFOSFUVSOUIFMJUFSBMTUSJOHOVMMBOEBCPSU


    UIFTFTUFQT

     0UIFSXJTF MFU A4BD;C CFUIFTDIFNFQBSUPGUIF PSJHJO Q UVQMF

     "QQFOEUIFTUSJOHUP A4BD;C

     "QQMZUIF*%/"5P6OJDPEFBMHPSJUINUPFBDIDPNQPOFOUPGUIFIPTUQBSUPGUIF PSJHJO Q UVQMF BOEBQQFOE


    UIFSFTVMUTǡFBDIDPNQPOFOU JOUIFTBNFPSEFS TFQBSBUFECZ6 &'6--4501DIBSBDUFST 
    ǡUP
    A4BD;C <3'$> Q

     *GUIFQPSUQBSUPGUIF PSJHJO Q UVQMFHJWFTBQPSUUIBUJTEJЗFSFOUGSPNUIFEFGBVMUQPSUGPSUIFQSPUPDPMHJWFO


    CZUIFTDIFNFQBSUPGUIF PSJHJO Q UVQMF UIFOBQQFOEB6 "$0-0/DIBSBDUFS 
    BOEUIFHJWFOQPSU JO
    CBTFUFO UP A4BD;C

     3FUVSO A4BD;C

    5IF /%%M?LC;FCT;NCIHI@;HILCACH JTUIFTUSJOHPCUBJOFECZBQQMZJOHUIFGPMMPXJOHBMHPSJUINUPUIFHJWFO


    PSJHJO Q 

     *GUIF PSJHJO Q JORVFTUJPOJTOPUBTDIFNFIPTUQPSUUVQMF UIFOSFUVSOUIFMJUFSBMTUSJOHOVMMBOEBCPSU


    UIFTFTUFQT

     0UIFSXJTF MFU A4BD;C CFUIFTDIFNFQBSUPGUIF PSJHJO Q UVQMF

     "QQFOEUIFTUSJOHUP A4BD;C

     "QQMZUIF*%/"5P"4$**BMHPSJUINUIFIPTUQBSUPGUIF PSJHJO Q UVQMF XJUICPUIUIF"MMPX6OBTTJHOFEBOE


    6TF45%"4$**3VMFTЙBHTTFU BOEBQQFOEUIFSFTVMUT A4BD;C

    *G5P"4$**GBJMTUPDPOWFSUPOFPGUIFDPNQPOFOUTPGUIFTUSJOH FHCFDBVTFJUJTUPPMPOHPSCFDBVTFJU
    DPOUBJOTJOWBMJEDIBSBDUFST UIFOSFUVSOUIFFNQUZTUSJOHBOEBCPSUUIFTFTUFQT <3'$> Q

     *GUIFQPSUQBSUPGUIF PSJHJO Q UVQMFHJWFTBQPSUUIBUJTEJЗFSFOUGSPNUIFEFGBVMUQPSUGPSUIFQSPUPDPMHJWFO


    CZUIFTDIFNFQBSUPGUIF PSJHJO Q UVQMF UIFOBQQFOEB6 "$0-0/DIBSBDUFS 
    BOEUIFHJWFOQPSU JO
    CBTFUFO UP A4BD;C

     3FUVSO A4BD;C

    5XP PSJHJOT Q BSFTBJEUPCFUIF M;G?ILCACH JGUIFGPMMPXJOHBMHPSJUINSFUVSOTUSVF

     -FU  CFUIFИSTU PSJHJO Q CFJOHDPNQBSFE BOE  CFUIFTFDPOE PSJHJO Q CFJOHDPNQBSFE

     *G  BOE  BSFCPUIPQBRVFJEFOUJИFST BOEUIFJSWBMVFJTFRVBM UIFOSFUVSOUSVF

     0UIFSXJTF JGFJUIFS  PS  PSCPUIBSFPQBRVFJEFOUJИFST SFUVSOGBMTF

     *G  BOE  IBWFTDIFNFDPNQPOFOUTUIBUBSFOPUJEFOUJDBM SFUVSOGBMTF

     *G  BOE  IBWFIPTUDPNQPOFOUTUIBUBSFOPUJEFOUJDBM SFUVSOGBMTF

     *G  BOE  IBWFQPSUDPNQPOFOUTUIBUBSFOPUJEFOUJDBM SFUVSOGBMTF

     *GFJUIFS  PS  IBWFBEEJUJPOBMEBUB CVUUIBUEBUBJTOPUJEFOUJDBMGPSCPUI SFUVSOGBMTF

     3FUVSOUSVF

       .?F;RCHANB?M;G? ILCACHL?MNLC=NCIH

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G

    
    =H<NF>GM ?JH<DI K 7 =HF:BG 8
    3FUVSOTUIFDVSSFOUEPNBJOVTFEGPSTFDVSJUZDIFDLT
    $BOCFTFUUPBWBMVFUIBUSFNPWFTTVCEPNBJOT UPDIBOHFUIF FЗFDUJWFTDSJQUPSJHJO Q UPBMMPXQBHFTPO
    PUIFSTVCEPNBJOTPGUIFTBNFEPNBJO JGUIFZEPUIFTBNFUIJOH
    UPBDDFTTFBDIPUIFS

    5IF ?JH<DI BUUSJCVUFPO %PDVNFOU Q PCKFDUTNVTUCFJOJUJBMJ[FEUP UIFEPDVNFOUTEPNBJO Q JGJUIBTPOF BOEUIF
    FNQUZTUSJOHPUIFSXJTF*GUIFWBMVFJTBO*1WBEESFTT UIFOUIFTRVBSFCSBDLFUTGSPNUIFIPTUQPSUJPOPGUIF
    IPTU Q DPNQPOFOUNVTUCFPNJUUFEGSPNUIFBUUSJCVUFTWBMVF

    0OHFUUJOH UIFBUUSJCVUFNVTUSFUVSOJUTDVSSFOUWBMVF VOMFTTUIFEPDVNFOUXBTDSFBUFECZ 9.-)UUQ3FRVFTU JOXIJDI


    DBTFJUNVTUUISPXBO */7"-*%@"$$&44@&33 Q FYDFQUJPO

    0OTFUUJOH UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHBMHPSJUIN

     *GUIFEPDVNFOUXBTDSFBUFECZ 9.-)UUQ3FRVFTU UISPXBO */7"-*%@"$$&44@&33 Q FYDFQUJPOBOEBCPSU


    UIFTFTUFQT

     *GUIFOFXWBMVFJTBO*1BEESFTT MFU =4FE0;D4 CFUIFOFXWBMVF0UIFSXJTF BQQMZUIF*%/"5P"4$**


    BMHPSJUINUPUIFOFXWBMVF XJUICPUIUIF"MMPX6OBTTJHOFEBOE6TF45%"4$**3VMFTЙBHTTFU BOEMFU =4F
    E0;D4 CFUIFSFTVMUPGUIF5P"4$**BMHPSJUIN

    *G5P"4$**GBJMTUPDPOWFSUPOFPGUIFDPNQPOFOUTPGUIFTUSJOH FHCFDBVTFJUJTUPPMPOHPSCFDBVTFJU
    DPOUBJOTJOWBMJEDIBSBDUFST UIFOUISPXB 4&$63*5:@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT <3'$> Q

     *G =4FE0;D4 JTOPUFYBDUMZFRVBMUPUIFDVSSFOUWBMVFPGUIF EPDVNFOUEPNBJO Q BUUSJCVUF UIFOSVOUIFTF


    TVCTUFQT

     *GUIFDVSSFOUWBMVFJTBO*1BEESFTT UISPXB 4&$63*5:@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

     *G =4FE0;D4 QSFИYFECZB6 &'6--4501 


    EPFTOPUFYBDUMZNBUDIUIFFOEPGUIFDVSSFOU
    WBMVF UISPXB 4&$63*5:@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

     *G =4FE0;D4 NBUDIFTBTVКYJOUIF1VCMJD4VКY-JTU PS JG =4FE0;D4 QSFИYFECZB6 &'6--


    4501 
    NBUDIFTUIFFOEPGBTVКYJOUIF1VCMJD4VКY-JTU UIFOUISPXB 4&$63*5:@&33 Q
    FYDFQUJPOBOEBCPSUUIFTFTUFQT <14-> Q

    4VКYFTNVTUCFDPNQBSFEBGUFSBQQMZJOHUIF*%/"5P"4$**BMHPSJUINUPUIFN XJUICPUIUIF
    "MMPX6OBTTJHOFEBOE6TF45%"4$**3VMFTЙBHTTFU JOBO "4$**DBTFJOTFOTJUJWF Q NBOOFS
    <3'$> Q

     3FMFBTFUIF TUPSBHFNVUFY Q 

     4FUUIFBUUSJCVUFTWBMVFUP =4FE0;D4

     4FUUIFIPTUQBSUPGUIF FЗFDUJWFTDSJQUPSJHJO Q UVQMFPGUIF %PDVNFOU Q UP =4FE0;D4

     4FUUIFQPSUQBSUPGUIF FЗFDUJWFTDSJQUPSJHJO Q UVQMFPGUIF %PDVNFOU Q UPNBOVBMPWFSSJEF BWBMVFUIBU


    GPSUIFQVSQPTFTPG DPNQBSJOHPSJHJOT Q JTJEFOUJDBMUPNBOVBMPWFSSJEFCVUOPUJEFOUJDBMUPBOZPUIFS
    WBMVF
    

    5IF >IG;CH PGB %PDVNFOU Q JTUIFIPTUQBSUPGUIFEPDVNFOUT PSJHJO Q JGUIBUJTBTDIFNFIPTUQPSUUVQMF*GJUJTOU


    UIFOUIFEPDVNFOUEPFTOPUIBWFBEPNBJO

    *HM> 0A> =HF:BG I :MMKB;NM>BLNL>=MH>G:;E>I:@>LHG=BZ>K>GMAHLMLH?:=HF:BGMH:<<>LL


    >:<AHMA>KL +)L

    [3;LHCHA HGHMNL>MA> =H<NF>GM =HF:BG I :MMKB;NM>PA>GNLBG@LA:K>=AHLMBG@ %?:GNGMKNLM>=MABK=


    I:KMRBL:;E>MHAHLM:G$00,L>KO>K:MMA>L:F>%,:==K>LL;NMHG:=BZ>K>GMIHKM MA>GMA>L:F>
    HKB@BG
    IKHM><MBHGMA:MGHKF:EERIKHM><MLMPH=BZ>K>GMLBM>LHGMA>L:F>AHLMPBEE?:BE :LMA>IHKML:K>B@GHK>=
    PA>G<HFI:KBG@HKB@BGL:?M>KMA> =H<NF>GM =HF:BG I :MMKB;NM>A:L;>>GNL>=

    
      /?MMCIHBCMNILS;H>H;PCA;NCIH

       0B?M?MMCIHBCMNILSI@<LIQMCHA=IHN?RNM

    5IFTFRVFODFPG %PDVNFOU Q TJOB CSPXTJOHDPOUFYU Q JTJUT M?MMCIHBCMNILS

    )JTUPSZ Q PCKFDUTQSPWJEFBSFQSFTFOUBUJPOPGUIFQBHFTJOUIFTFTTJPOIJTUPSZPG CSPXTJOHDPOUFYUT Q &BDI


    CSPXTJOHDPOUFYU Q JODMVEJOH OFTUFECSPXTJOHDPOUFYUT Q IBTBEJTUJODUTFTTJPOIJTUPSZ

    &BDI %PDVNFOU Q PCKFDUJOB CSPXTJOHDPOUFYU Q T TFTTJPOIJTUPSZ Q JTBTTPDJBUFEXJUIBVOJRVFJOTUBODFPGUIF


    )JTUPSZ Q PCKFDU BMUIPVHIUIFZBMMNVTUNPEFMUIFTBNFVOEFSMZJOH TFTTJPOIJTUPSZ Q 

    5IF CDNOJMT BUUSJCVUFPGUIF 8JOEPX Q JOUFSGBDFNVTUSFUVSOUIFPCKFDUJNQMFNFOUJOHUIF )JTUPSZ Q JOUFSGBDFGPS


    UIBU 8JOEPX Q PCKFDUT %PDVNFOU Q 

    )JTUPSZ Q PCKFDUTSFQSFTFOUUIFJS CSPXTJOHDPOUFYU Q TTFTTJPOIJTUPSZBTBЙBUMJTUPG TFTTJPOIJTUPSZFOUSJFT Q 


    &BDI M?MMCIHBCMNILS?HNLS DPOTJTUTPGFJUIFSB 63- Q PSB TUBUFPCKFDU Q PSCPUI BOENBZJOBEEJUJPOIBWFBUJUMF
    B %PDVNFOU Q PCKFDU GPSNEBUB BTDSPMMQPTJUJPO BOEPUIFSJOGPSNBUJPOBTTPDJBUFEXJUIJU

    *HM> 0ABL=H>LGHMBFIERMA:MMA>NL>KBGM>K?:<>G>>=;>EBG>:K />>MA> GHM>L;>EHP I

    *HM> 0BME>L:LLH<B:M>=PBMA L>LLBHGABLMHKR>GMKB>L I G>>=GHMA:O>:GRK>E:MBHGPBMAMA><NKK>GM


    MBME> I H?MA> #H<NF>GM I 0A>MBME>H?: L>LLBHGABLMHKR>GMKR I BLBGM>G=>=MH>QIE:BGMA>LM:M>
    H?MA>=H<NF>GM:MMA:MIHBGM LHMA:MMA>NL>K<:GG:OB@:M>MA>=H<NF>GMLABLMHKR

    63-TXJUIPVUBTTPDJBUFE TUBUFPCKFDUT Q BSFBEEFEUPUIFTFTTJPOIJTUPSZBTUIFVTFS PSTDSJQU


    OBWJHBUFTGSPNQBHF
    UPQBHF

    " MN;N?I<D?=N JTBOPCKFDUSFQSFTFOUJOHBVTFSJOUFSGBDFTUBUF

    1BHFTDBO BEE Q TUBUFPCKFDUT Q CFUXFFOUIFJSFOUSZJOUIFTFTTJPOIJTUPSZBOEUIFOFYU GPSXBSE


    FOUSZ5IFTFBSF
    UIFO SFUVSOFEUPUIFTDSJQU Q XIFOUIFVTFS PSTDSJQU
    HPFTCBDLJOUIFIJTUPSZ UIVTFOBCMJOHBVUIPSTUPVTFUIF
    OBWJHBUJPONFUBQIPSFWFOJOPOFQBHFBQQMJDBUJPOT

    "UBOZQPJOU POFPGUIFFOUSJFTJOUIFTFTTJPOIJTUPSZJTUIF =OLL?HN?HNLS5IJTJTUIFFOUSZSFQSFTFOUJOHUIF BDUJWF


    EPDVNFOU Q PGUIF CSPXTJOHDPOUFYU Q 5IF DVSSFOUFOUSZ Q JTVTVBMMZBOFOUSZGPSUIF MPDBUJPO Q PGUIF
    %PDVNFOU Q )PXFWFS JUDBOBMTPCFPOFPGUIFFOUSJFTGPS TUBUFPCKFDUT Q BEEFEUPUIFIJTUPSZCZUIBUEPDVNFOU

    &OUSJFTUIBUDPOTJTUPG TUBUFPCKFDUT Q TIBSFUIFTBNF %PDVNFOU Q BTUIFFOUSZGPSUIFQBHFUIBUXBTBDUJWFXIFO


    UIFZXFSFBEEFE

    $POUJHVPVTFOUSJFTUIBUEJЗFSKVTUCZGSBHNFOUJEFOUJИFSBMTPTIBSFUIFTBNF %PDVNFOU Q 

    *HM> EE>GMKB>LMA:MLA:K>MA>L:F> #H<NF>GM I :G=MA:M:K>MA>K>?HK>F>K>ER=BZ>K>GMLM:M>LH?


    HG>I:KMB<NE:K=H<NF>GM:K><HGMB@NHNL;R=>[GBMBHG

    6TFSBHFOUTNBZ EJTDBSE Q UIF %PDVNFOU Q PCKFDUTPGFOUSJFTPUIFSUIBOUIF DVSSFOUFOUSZ Q UIBUBSFOPUSFGFSFODFE
    GSPNBOZTDSJQU SFMPBEJOHUIFQBHFTBGSFTIXIFOUIFVTFSPSTDSJQUOBWJHBUFTCBDLUPTVDIQBHFT5IJTTQFDJИDBUJPO
    EPFTOPUTQFDJGZXIFOVTFSBHFOUTTIPVMEEJTDBSE %PDVNFOU Q PCKFDUTBOEXIFOUIFZTIPVMEDBDIFUIFN

    &OUSJFTUIBUIBWFIBEUIFJS %PDVNFOU Q PCKFDUTEJTDBSEFENVTU GPSUIFQVSQPTFTPGUIFBMHPSJUINTHJWFOCFMPX BDUBT


    JGUIFZIBEOPU8IFOUIFVTFSPSTDSJQUOBWJHBUFTCBDLPSGPSXBSETUPBQBHFXIJDIIBTOPJONFNPSZ%0.PCKFDUT
    BOZPUIFSFOUSJFTUIBUTIBSFEUIFTBNF %PDVNFOU Q PCKFDUXJUIJUNVTUTIBSFUIFOFXPCKFDUBTXFMM

       0B? &DNOJMT K CHN?L@;=?

    JOUFSGBDF &DNOJMT \
    SFBEPOMZBUUSJCVUFMPOH MFOHUI
    WPJE HP JOPQUJPOBMMPOHEFMUB
    
    WPJE CBDL
    
    WPJE GPSXBSE
    
    WPJE QVTI4UBUF JOBOZEBUB JO%0.4USJOHUJUMF JOPQUJPOBM%0.4USJOHVSM
    
    WPJE SFQMBDF4UBUF JOBOZEBUB JO%0.4USJOHUJUMF JOPQUJPOBM%0.4USJOHVSM
    
    ^

    
    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    PBG=HP CDNOJMT G@IBOC K
    3FUVSOTUIFOVNCFSPGFOUSJFTJOUIF KPJOUTFTTJPOIJTUPSZ Q 

    PBG=HP CDNOJMT K BJ K 7 =>EM: 8


    (PFTCBDLPSGPSXBSEUIFTQFDJИFEOVNCFSPGTUFQTJOUIF KPJOUTFTTJPOIJTUPSZ Q 
    "[FSPEFMUBXJMMSFMPBEUIFDVSSFOUQBHF
    *GUIFEFMUBJTPVUPGSBOHF EPFTOPUIJOH

    PBG=HP CDNOJMT K =<>F K 


    (PFTCBDLPOFTUFQJOUIF KPJOUTFTTJPOIJTUPSZ Q 
    *GUIFSFJTOPQSFWJPVTQBHF EPFTOPUIJOH

    PBG=HP CDNOJMT K AJMR<M? K 


    (PFTGPSXBSEPOFTUFQJOUIF KPJOUTFTTJPOIJTUPSZ Q 
    *GUIFSFJTOPOFYUQBHF EPFTOPUIJOH

    PBG=HP CDNOJMT K KPNC1O<O@ K =:M:


    MBME> 7
    NKE 8
    1VTIFTUIFHJWFOEBUBPOUPUIFTFTTJPOIJTUPSZ XJUIUIFHJWFOUJUMF BOE JGQSPWJEFE UIFHJWFO63-

    PBG=HP CDNOJMT K M@KG<>@1O<O@ K =:M:


    MBME> 7
    NKE 8
    6QEBUFTUIFDVSSFOUFOUSZJOUIFTFTTJPOIJTUPSUPIBWFUIFHJWFOEBUB UJUMF BOE JGQSPWJEFE 63-

    5IF DICHNM?MMCIHBCMNILS PGB )JTUPSZ Q PCKFDUJTUIFVOJPOPGBMMUIF TFTTJPOIJTUPSJFT Q PGBMM CSPXTJOH
    DPOUFYUT Q PGBMMUIF GVMMZBDUJWF Q %PDVNFOU Q PCKFDUTUIBUTIBSFUIF )JTUPSZ Q PCKFDUT UPQMFWFMCSPXTJOH
    DPOUFYU Q XJUIBMMUIFFOUSJFTUIBUBSF DVSSFOUFOUSJFT Q JOUIFJSSFTQFDUJWF TFTTJPOIJTUPSJFT Q SFNPWFEFYDFQUGPS
    UIF DVSSFOUFOUSZPGUIFKPJOUTFTTJPOIJTUPSZ Q 

    5IF =OLL?HN?HNLSI@NB?DICHNM?MMCIHBCMNILS JTUIFFOUSZUIBUNPTUSFDFOUMZCFDBNFB DVSSFOUFOUSZ Q JOJUT


    TFTTJPOIJTUPSZ Q 

    &OUSJFTJOUIF KPJOUTFTTJPOIJTUPSZ Q BSFPSEFSFEDISPOPMPHJDBMMZCZUIFUJNFUIFZXFSFBEEFEUPUIFJSSFTQFDUJWF


    TFTTJPOIJTUPSJFT Q  4JODFBMMUIFTF CSPXTJOHDPOUFYUT Q CZEFИOJUJPOTIBSFBO FWFOUMPPQ Q UIFSFJTBMXBZTBXFMM
    EFИOFETFRVFOUJBMPSEFSJOXIJDIUIFJS TFTTJPOIJTUPSJFT Q IBEUIFJSFOUSJFTBEEFE
    &BDIFOUSZIBTBOJOEFYUIF
    FBSMJFTUFOUSZIBTJOEFY BOEUIFTVCTFRVFOUFOUSJFTBSFOVNCFSFEXJUIDPOTFDVUJWFMZJODSFBTJOHJOUFHFST   
    FUD
    

    5IF G@IBOC BUUSJCVUFPGUIF )JTUPSZ Q JOUFSGBDFNVTUSFUVSOUIFOVNCFSPGFOUSJFTJOUIF KPJOUTFTTJPOIJTUPSZ Q 

    5IFBDUVBMFOUSJFTBSFOPUBDDFTTJCMFGSPNTDSJQU

    8IFOUIF BJ=>EM: NFUIPEJTJOWPLFE JGUIFBSHVNFOUUPUIFNFUIPEXBTPNJUUFEPSIBTUIFWBMVF[FSP UIFVTFS


    BHFOUNVTUBDUBTJGUIF MPDBUJPOSFMPBE
    Q NFUIPEXBTDBMMFEJOTUFBE0UIFSXJTF UIFVTFSBHFOUNVTU USBWFSTF
    UIFIJTUPSZCZBEFMUB Q XIPTFWBMVFJTUIFWBMVFPGUIFNFUIPETBSHVNFOU

    8IFOUIF =<>F NFUIPEJTJOWPLFE UIFVTFSBHFOUNVTU USBWFSTFUIFIJTUPSZCZBEFMUB Q ʐ

    8IFOUIF AJMR<M?NFUIPEJTJOWPLFE UIFVTFSBHFOUNVTU USBWFSTFUIFIJTUPSZCZBEFMUB Q 

    5P NL;P?LM?NB?BCMNILS<S;>?FN; 34;C0 UIFVTFSBHFOUNVTU RVFVFBUBTL Q UPSVOUIFGPMMPXJOHTUFQT5IF UBTL


    TPVSDF Q GPSUIFRVFVFEUBTLJTUIF IJTUPSZUSBWFSTBMUBTLTPVSDF Q 

     -FU 34;C0 CFUIFBSHVNFOUUPUIFNFUIPE

     *GUIFJOEFYPGUIF DVSSFOUFOUSZPGUIFKPJOUTFTTJPOIJTUPSZ Q QMVT 34;C0 JTMFTTUIBO[FSPPSHSFBUFSUIBOPS


    FRVBMUPUIFOVNCFSPGJUFNTJOUIF KPJOUTFTTJPOIJTUPSZ Q UIFOUIFVTFSBHFOUNVTUEPOPUIJOH

     -FU B?428P434=CAH CFUIFFOUSZJOUIF KPJOUTFTTJPOIJTUPSZ Q XIPTFJOEFYJTUIFTVNPG 34;C0 BOEUIFJOEFY


    PGUIF DVSSFOUFOUSZPGUIFKPJOUTFTTJPOIJTUPSZ Q 

     -FU B?428P431A>FB8=62>=C4GC CFUIF CSPXTJOHDPOUFYU Q PGUIF B?428P434=CAH

     5SBWFSTFUIFIJTUPSZ Q PGUIF B?428P431A>FB8=62>=C4GC UPUIF B?428P434=CAH

    
    8IFOUIFVTFSOBWJHBUFTUISPVHIB CSPXTJOHDPOUFYU Q FHVTJOHBCSPXTFSTCBDLBOEGPSXBSECVUUPOT UIFVTFS
    BHFOUNVTU USBWFSTFUIFIJTUPSZCZBEFMUB Q FRVJWBMFOUUPUIFBDUJPOTQFDJИFECZUIFVTFS

    5IF KPNC1O<O@=:M: MBME> NKE NFUIPEBEETBTUBUFPCKFDUFOUSZUPUIFIJTUPSZ

    5IF M@KG<>@1O<O@=:M: MBME> NKE NFUIPEVQEBUFTUIFTUBUFPCKFDU UJUMF BOEPQUJPOBMMZUIF 63- Q PGUIF
    DVSSFOUFOUSZ Q JOUIFIJTUPSZ

    8IFOFJUIFSPGUIFTFNFUIPETJTJOWPLFE UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     -FU 2;>=430C0 CFB TUSVDUVSFEDMPOF Q PGUIFTQFDJИFE 30C0*GUIJTUISPXTBOFYDFQUJPO UIFOSFUISPXUIBU


    FYDFQUJPOBOEBCPSUUIFTFTUFQT

     *GBUIJSEBSHVNFOUJTTQFDJИFE SVOUIFTFTVCTUFQT

     3FTPMWF Q UIFWBMVFPGUIFUIJSEBSHVNFOU SFMBUJWFUPUIF FOUSZTDSJQU Q T CBTF63- Q 

     *GUIBUGBJMT SBJTFB 4&$63*5:@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

     $PNQBSFUIFSFTVMUJOH BCTPMVUF63- Q UP UIFEPDVNFOUTBEESFTT Q *GBOZQBSUPGUIFTFUXP


    63-T Q EJЗFSPUIFSUIBOUIF QBUI Q RVFSZ Q BOE GSBHNFOU Q DPNQPOFOUT UIFOSBJTF
    B 4&$63*5:@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

     *GUIF PSJHJO Q PGUIFSFTVMUJOH BCTPMVUF63- Q JTOPUUIFTBNFBTUIF PSJHJO Q PGUIF FOUSZ
    TDSJQU Q T EPDVNFOU Q BOEFJUIFSUIF QBUI Q PS RVFSZ Q DPNQPOFOUTPGUIFUXP 63-T Q
    DPNQBSFEJOUIFQSFWJPVTTUFQEJЗFS SBJTFB 4&$63*5:@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT
    5IJTQSFWFOUTTBOECPYFEDPOUFOUGSPNTQPPИOHPUIFSQBHFTPOUIFTBNFPSJHJO

    'PSUIFQVSQPTFTPGUIFDPNQBSJTPOTJOUIFBCPWFTVCTUFQT UIF QBUI Q BOE RVFSZ Q DPNQPOFOUTDBO


    POMZCFUIFTBNFJGUIF63-TBSFCPUI IJFSBSDIJDBM63-T Q 

     *GUIFNFUIPEJOWPLFEXBTUIF QVTI4UBUF
    Q NFUIPE

     3FNPWFBMMUIFFOUSJFTJOUIF CSPXTJOHDPOUFYU Q T TFTTJPOIJTUPSZ Q BGUFSUIF DVSSFOUFOUSZ Q *G


    UIF DVSSFOUFOUSZ Q JTUIFMBTUFOUSZJOUIFTFTTJPOIJTUPSZ UIFOOPFOUSJFTBSFSFNPWFE

    *HM> 0ABL =H>LGMG><>LL:KBERA:O>MH:Z><M I MA>NL>K:@>GMLNL>KBGM>K?:<>

     3FNPWFBOZ UBTLT Q RVFVFECZUIF IJTUPSZUSBWFSTBMUBTLTPVSDF Q 

     "EEBTUBUFPCKFDUFOUSZUPUIFTFTTJPOIJTUPSZ BGUFSUIF DVSSFOUFOUSZ Q XJUI 2;>=4330C0 BTUIF


    TUBUFPCKFDU UIFHJWFO C8C;4 BTUIFUJUMF BOE JGUIFUIJSEBSHVNFOUJTQSFTFOU UIF BCTPMVUF63- Q
    UIBUXBTGPVOEFBSMJFSJOUIJTBMHPSJUINBTUIF 63- Q PGUIFFOUSZ

     6QEBUFUIF DVSSFOUFOUSZ Q UPCFUIFUIJTOFXMZBEEFEFOUSZ

    0UIFSXJTF JGUIFNFUIPEJOWPLFEXBTUIF SFQMBDF4UBUF


    Q NFUIPE

     6QEBUFUIF DVSSFOUFOUSZ Q JOUIFTFTTJPOIJTUPSZTPUIBU 2;>=4330C0 JTUIFFOUSZTOFXTUBUF


    PCKFDU UIFHJWFO C8C;4 JTUIFOFXUJUMF BOE JGUIFUIJSEBSHVNFOUJTQSFTFOU UIF BCTPMVUF63- Q
    UIBUXBTGPVOEFBSMJFSJOUIJTBMHPSJUINJTUIFFOUSZTOFX 63- Q 

     *GUIFUIJSEBSHVNFOUJTQSFTFOU TFU UIFEPDVNFOUTDVSSFOUBEESFTT Q UPUIF BCTPMVUF63- Q UIBUXBTGPVOE


    FBSMJFSJOUIJTBMHPSJUIN

    *HM> /BG<>MABLBLG>BMA>K: G:OB@:MBHG I H?MA> ;KHPLBG@<HGM>QM I GHK: ABLMHKR


    MK:O>KL:E I BM=H>LGHM<:NL>: A:LA<A:G@> I >O>GMMH;>[K>=

    *HM> 0A> MBME> BLINK>ER:=OBLHKR 1L>K:@>GMLFB@AMNL>MA>MBME>BGMA>NL>KBGM>K?:<>

    6TFSBHFOUTNBZMJNJUUIFOVNCFSPGTUBUFPCKFDUTBEEFEUPUIFTFTTJPOIJTUPSZQFSQBHF*GBQBHFIJUTUIF6"EFИOFE
    MJNJU VTFSBHFOUTNVTUSFNPWFUIFFOUSZJNNFEJBUFMZBGUFSUIFИSTUFOUSZGPSUIBU %PDVNFOU Q PCKFDUJOUIFTFTTJPO
    IJTUPSZBGUFSIBWJOHBEEFEUIFOFXFOUSZ 5IVTUIFTUBUFIJTUPSZBDUTBTB'*'0CVЗFSGPSFWJDUJPO CVUBTB-*'0CVЗFS
    GPSOBWJHBUJPO

    $POTJEFSBHBNFXIFSFUIFVTFSDBOOBWJHBUFBMPOHBMJOF TVDIUIBUUIFVTFSJTBMXBZTBUTPNFDPPSEJOBUF BOE


    TVDIUIBUUIFVTFSDBOCPPLNBSLUIFQBHFDPSSFTQPOEJOHUPBQBSUJDVMBSDPPSEJOBUF UPSFUVSOUPJUMBUFS

    
    "TUBUJDQBHFJNQMFNFOUJOHUIFYQPTJUJPOJOTVDIBHBNFDPVMEMPPLMJLFUIFGPMMPXJOH

    %0$5:1&)5.-
    UIJTJTIUUQFYBNQMFDPNMJOF Y
    UJUMF-JOF(BNFUJUMF
    Q:PVBSFBUDPPSEJOBUFPOUIFMJOFQ
    Q
    BISFG Y"EWBODFUPBPS
    BISFG YSFUSFBUUPB
    Q

    5IFQSPCMFNXJUITVDIBTZTUFNJTUIBUFBDIUJNFUIFVTFSDMJDLT UIFXIPMFQBHFIBTUPCFSFMPBEFE)FSF
    JOTUFBEJTBOPUIFSXBZPGEPJOHJU VTJOHTDSJQU

    %0$5:1&)5.-
    UIJTTUBSUTPGGBTIUUQFYBNQMFDPNMJOF Y
    UJUMF-JOF(BNFUJUMF
    Q:PVBSFBUDPPSEJOBUFTQBOJEDPPSETQBOPOUIFMJOFQ
    Q
    BISFG YPODMJDLHP 
    "EWBODFUPBPS
    BISFG YPODMJDLHP 
    SFUSFBUUPB
    Q
    TDSJQU
    WBSDVSSFOU1BHFQSFGJMMFECZTFSWFS
    GVODUJPOHP E
    \
    IJTUPSZQVTI4UBUF DVSSFOU1BHF -JOF(BNF DVSSFOU1BHF  Y DVSSFOU1BHF
    
    TFUVQ1BHF DVSSFOU1BHF E
    
    ^
    POQPQTUBUFGVODUJPO FWFOU
    \
    TFUVQ1BHF FWFOUTUBUF
    
    ^
    GVODUJPOTFUVQ1BHF QBHF
    \
    DVSSFOU1BHFQBHF
    EPDVNFOUUJUMF-JOF(BNF DVSSFOU1BHF
    EPDVNFOUHFU&MFNFOU#Z*E DPPSE
    UFYU$POUFOUDVSSFOU1BHF
    EPDVNFOUMJOLT<>ISFG Y  DVSSFOU1BHF 
    
    EPDVNFOUMJOLT<>UFYU$POUFOU"EWBODFUP  DVSSFOU1BHF 
    
    EPDVNFOUMJOLT<>ISFG Y  DVSSFOU1BHF
    
    EPDVNFOUMJOLT<>UFYU$POUFOUSFUSFBUUP  DVSSFOU1BHF
    
    ^
    TDSJQU

    *OTZTUFNTXJUIPVUTDSJQU UIJTTUJMMXPSLTMJLFUIFQSFWJPVTFYBNQMF)PXFWFS VTFSTUIBU 3> IBWFTDSJQUTVQQPSU


    DBOOPXOBWJHBUFNVDIGBTUFS TJODFUIFSFJTOPOFUXPSLBDDFTTGPSUIFTBNFFYQFSJFODF'VSUIFSNPSF DPOUSBSZ
    UPUIFFYQFSJFODFUIFVTFSXPVMEIBWFXJUIKVTUBOB­WFTDSJQUCBTFEBQQSPBDI CPPLNBSLJOHBOEOBWJHBUJOHUIF
    TFTTJPOIJTUPSZTUJMMXPSL

    *OUIFFYBNQMFBCPWF UIF 30C0 BSHVNFOUUPUIF QVTI4UBUF


    Q NFUIPEJTUIFTBNFJOGPSNBUJPOBTXPVMECF
    TFOUUPUIFTFSWFS CVUJOBNPSFDPOWFOJFOUGPSN TPUIBUUIFTDSJQUEPFTOUIBWFUPQBSTFUIF63-FBDIUJNF
    UIFVTFSOBWJHBUFT

    "QQMJDBUJPOTNJHIUOPUVTFUIFTBNFUJUMFGPSB TFTTJPOIJTUPSZFOUSZ Q BTUIFWBMVFPGUIFEPDVNFOUT UJUMF Q


    FMFNFOUBUUIBUUJNF'PSFYBNQMF IFSFJTBTJNQMFQBHFUIBUTIPXTBCMPDLJOUIF UJUMF Q FMFNFOU$MFBSMZ
    XIFOOBWJHBUJOHCBDLXBSETUPBQSFWJPVTTUBUFUIFVTFSEPFTOPUHPCBDLJOUJNF BOEUIFSFGPSFJUXPVMECF
    JOBQQSPQSJBUFUPQVUUIFUJNFJOUIFTFTTJPOIJTUPSZUJUMF

    %0$5:1&)5.-
    5*5-&-JOF5*5-&
    4$3*15
    TFU*OUFSWBM GVODUJPO
    \EPDVNFOUUJUMF-JOF OFX%BUF
    ^ 
    
    WBSJ
    GVODUJPOJOD
    \
    TFU J 
    
    IJTUPSZQVTI4UBUF J -JOF J
    
    ^
    GVODUJPOTFU OFX*
    \
    JOFX*
    EPDVNFOUGPSNT'*WBMVFOFX*

    
    ^
    4$3*15
    #0%:0/10145"5&SFDPWFS FWFOUTUBUF
    
    '03./".&'
    4UBUF065165/".&*065165*/1657"-6&*ODSFNFOU5:1&#6550/0/$-*$,JOD
    
    '03.

       0B? *J><ODJI K CHN?L@;=?

    &BDI %PDVNFOU Q PCKFDUJOB CSPXTJOHDPOUFYU Q TTFTTJPOIJTUPSZJTBTTPDJBUFEXJUIBVOJRVFJOTUBODFPGB


    -PDBUJPO Q PCKFDU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM GJ><ODJI 7 O:EN> 8
    PBG=HP GJ><ODJI K 7 O:EN> 8
    3FUVSOTB -PDBUJPO Q PCKFDUXJUIUIFDVSSFOUQBHFTMPDBUJPO
    $BOCFTFU UPOBWJHBUFUPBOPUIFSQBHF

    5IF GJ><ODJI BUUSJCVUFPGUIF )5.-%PDVNFOU Q JOUFSGBDFNVTUSFUVSOUIF -PDBUJPO Q PCKFDUGPSUIBU %PDVNFOU Q
    PCKFDU JGJUJTJOB CSPXTJOHDPOUFYU Q BOEOVMMPUIFSXJTF

    5IF GJ><ODJI BUUSJCVUFPGUIF 8JOEPX Q JOUFSGBDFNVTUSFUVSOUIF -PDBUJPO Q PCKFDUGPSUIBU 8JOEPX Q PCKFDUT
    %PDVNFOU Q 

    -PDBUJPO Q PCKFDUTQSPWJEFBSFQSFTFOUBUJPOPG UIFJSEPDVNFOUTDVSSFOUBEESFTT Q BOEBMMPXUIF DVSSFOUFOUSZ Q PG


    UIF CSPXTJOHDPOUFYU Q TTFTTJPOIJTUPSZUPCFDIBOHFE CZBEEJOHPSSFQMBDJOHFOUSJFTJOUIF IJTUPSZ Q PCKFDU

    JOUFSGBDF *J><ODJI \
    TUSJOHJGJFSBUUSJCVUF%0.4USJOH ISFG
    WPJE BTTJHO JO%0.4USJOHVSM
    
    WPJE SFQMBDF JO%0.4USJOHVSM
    
    WPJE SFMPBE
    

     63-EFDPNQPTJUJPO*%-BUUSJCVUFT
    BUUSJCVUF%0.4USJOH QSPUPDPM
    BUUSJCVUF%0.4USJOH IPTU
    BUUSJCVUF%0.4USJOH IPTUOBNF
    BUUSJCVUF%0.4USJOH QPSU
    BUUSJCVUF%0.4USJOH QBUIOBNF
    BUUSJCVUF%0.4USJOH TFBSDI
    BUUSJCVUF%0.4USJOH IBTI

    SFTPMWJOHSFMBUJWF63-T
    %0.4USJOH SFTPMWF63- JO%0.4USJOHVSM
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    EH<:MBHG CM@A 7 O:EN> 8
    3FUVSOTUIFDVSSFOUQBHFTMPDBUJPO
    $BOCFTFU UPOBWJHBUFUPBOPUIFSQBHF

    EH<:MBHG <NNDBI K NKE


    /BWJHBUFTUPUIFHJWFOQBHF

    EH<:MBHG M@KG<>@ K NKE


    3FNPWFTUIFDVSSFOUQBHFGSPNUIFTFTTJPOIJTUPSZBOEOBWJHBUFTUPUIFHJWFOQBHF

    
    EH<:MBHG M@GJ<? K 
    3FMPBETUIFDVSSFOUQBHF

    NKE  EH<:MBHG M@NJGQ@30* K NKE


    3FTPMWFTUIFHJWFOSFMBUJWF63-UPBOBCTPMVUF63-

    5IF CM@A BUUSJCVUFNVTUSFUVSO UIFDVSSFOUBEESFTT Q PGUIFBTTPDJBUFE %PDVNFOU Q PCKFDU BTBO BCTPMVUF63- Q 

    0OTFUUJOH UIFVTFSBHFOUNVTUBDUBTJGUIF BTTJHO


    Q NFUIPEIBECFFODBMMFEXJUIUIFOFXWBMVFBTJUTBSHVNFOU

    8IFOUIF <NNDBINKE NFUIPEJTJOWPLFE UIF6"NVTU SFTPMWF Q UIFBSHVNFOU SFMBUJWFUPUIF FOUSZTDSJQU Q T CBTF
    63- Q BOEJGUIBUJTTVDDFTTGVM NVTU OBWJHBUF Q UIF CSPXTJOHDPOUFYU Q UPUIFTQFDJИFE DA;*GUIF CSPXTJOH
    DPOUFYU Q T TFTTJPOIJTUPSZ Q DPOUBJOTPOMZPOF %PDVNFOU Q BOEUIBUXBTUIF BCPVUCMBOL Q %PDVNFOU Q DSFBUFE
    XIFOUIF CSPXTJOHDPOUFYU Q XBTDSFBUFE UIFOUIFOBWJHBUJPONVTUCFEPOFXJUI SFQMBDFNFOUFOBCMFE Q 

    8IFOUIF M@KG<>@NKE NFUIPEJTJOWPLFE UIF6"NVTU SFTPMWF Q UIFBSHVNFOU SFMBUJWFUPUIF FOUSZTDSJQU Q T
    CBTF63- Q BOEJGUIBUJTTVDDFTTGVM OBWJHBUF Q UIF CSPXTJOHDPOUFYU Q UPUIFTQFDJИFE DA; XJUI SFQMBDFNFOU
    FOBCMFE Q 

    /BWJHBUJPOGPSUIF BTTJHO
    Q BOE SFQMBDF
    Q NFUIPETNVTUCFEPOFXJUIUIF CSPXTJOHDPOUFYU Q PGUIFTDSJQU
    UIBUJOWPLFEUIFNFUIPEBTUIF TPVSDFCSPXTJOHDPOUFYU Q 

    *GUIF SFTPMWJOH Q TUFQPGUIF BTTJHO


    Q BOE SFQMBDF
    Q NFUIPETJTOPUTVDDFTTGVM UIFOUIFVTFSBHFOUNVTU
    JOTUFBEUISPXB 4:/5"9@&33 Q FYDFQUJPO

    8IFOUIF M@GJ<? NFUIPEJTJOWPLFE UIFVTFSBHFOUNVTUSVOUIFBQQSPQSJBUFTUFQTGSPNUIFGPMMPXJOHMJTU


    J
    X %@NB?=OLL?HNFS?R?=ONCHA N;ME CMNB?>CMJ;N=BI@; M@NDU@ ?P?HNCHL?MJIHM?NINB?OM?LL?MCTCHA
    NB? <LIQMCHA=IHN?RN J
    3FQBJOUUIF CSPXTJOHDPOUFYU Q BOEBCPSUUIFTFTUFQT

    X +NB?LQCM?
    /BWJHBUF Q UIF CSPXTJOHDPOUFYU Q UP UIFEPDVNFOUTDVSSFOUBEESFTT Q XJUI SFQMBDFNFOUFOBCMFE Q 
    5IF TPVSDFCSPXTJOHDPOUFYU Q NVTUCFUIF CSPXTJOHDPOUFYU Q CFJOHOBWJHBUFE

    8IFOBVTFSSFRVFTUTUIBUUIFDVSSFOUQBHFCFSFMPBEFEUISPVHIBVTFSJOUFSGBDFFMFNFOU UIFVTFSBHFOUTIPVME
    OBWJHBUF Q UIF CSPXTJOHDPOUFYU Q UPUIFTBNFSFTPVSDFBT %PDVNFOU Q XJUI SFQMBDFNFOUFOBCMFE Q *OUIFDBTF
    PGOPOJEFNQPUFOUNFUIPET FH)5511045
    UIFVTFSBHFOUTIPVMEQSPNQUUIFVTFSUPDPOИSNUIFPQFSBUJPOИSTU
    TJODFPUIFSXJTFUSBOTBDUJPOT FHQVSDIBTFTPSEBUBCBTFNPEJИDBUJPOT
    DPVMECFSFQFBUFE6TFSBHFOUTNBZBMMPXUIF
    VTFSUPFYQMJDJUMZPWFSSJEFBOZDBDIFTXIFOSFMPBEJOH

    5IF -PDBUJPO Q JOUFSGBDFBMTPIBTUIFDPNQMFNFOUPG 63-EFDPNQPTJUJPO*%-BUUSJCVUFT Q KMJOJ>JG CJNO KJMO


    CJNOI<H@ K<OCI<H@ N@<M>C BOE C<NC 5IFTFNVTUGPMMPXUIFSVMFTHJWFOGPS63-EFDPNQPTJUJPO*%-BUUSJCVUFT XJUI
    UIF JOQVU Q CFJOH UIFDVSSFOUBEESFTT Q PGUIFBTTPDJBUFE %PDVNFOU Q PCKFDU BTBO BCTPMVUF63- Q TBNFBTUIF
    ISFG Q BUUSJCVUF
    BOEUIF DPNNPOTFUUFSBDUJPO Q CFJOHUIFTBNFBTTFUUJOHUIF ISFG Q BUUSJCVUFUPUIFOFXPVUQVU
    WBMVF

    5IF M@NJGQ@30*NKE NFUIPENVTU SFTPMWF Q JUT DA; BSHVNFOU SFMBUJWFUPUIF FOUSZTDSJQU Q T CBTF63- Q BOEJG
    UIBUTVDDFFET SFUVSOUIFSFTVMUJOH BCTPMVUF63- Q *GJUGBJMT JUNVTUUISPXB 4:/5"9@&33 Q FYDFQUJPOJOTUFBE

        /?=OLCNS

    6TFSBHFOUTNVTUSBJTFB 4&$63*5:@&33 Q FYDFQUJPOXIFOFWFSBOZPGUIFNFNCFSTPGB -PDBUJPO Q PCKFDUBSF


    BDDFTTFECZTDSJQUTXIPTF FЗFDUJWFTDSJQUPSJHJO Q JTOPUUIF TBNF Q BTUIF -PDBUJPO Q PCKFDUTBTTPDJBUFE
    %PDVNFOU Q T FЗFDUJWFTDSJQUPSJHJO Q XJUIUIFGPMMPXJOHFYDFQUJPOT

    Ǭ 5IF ISFG Q TFUUFS JGUIFTDSJQUJTSVOOJOHJOB CSPXTJOHDPOUFYU Q UIBUJT BMMPXFEUPOBWJHBUF Q UIF
    CSPXTJOHDPOUFYUXJUIXIJDIUIF -PDBUJPO Q PCKFDUJTBTTPDJBUFE

    Ǭ 5IF SFQMBDF
    Q NFUIPE JGUIFTDSJQUJTSVOOJOHJOB CSPXTJOHDPOUFYU Q UIBUJT BMMPXFEUPOBWJHBUF Q
    UIFCSPXTJOHDPOUFYUXJUIXIJDIUIF -PDBUJPO Q PCKFDUJTBTTPDJBUFE

    
       %GJF?G?HN;NCIHHIN?M@ILM?MMCIHBCMNILS

    *78BB42C8>=8B=>==>A<0C8E4

    5IF )JTUPSZ Q JOUFSGBDFJTOPUNFBOUUPQMBDFSFTUSJDUJPOTPOIPXJNQMFNFOUBUJPOTSFQSFTFOUUIFTFTTJPOIJTUPSZUP


    UIFVTFS

    'PSFYBNQMF TFTTJPOIJTUPSZDPVMECFJNQMFNFOUFEJOBUSFFMJLFNBOOFS XJUIFBDIQBHFIBWJOHNVMUJQMFGPSXBSE


    QBHFT5IJTTQFDJИDBUJPOEPFTOUEFИOFIPXUIFMJOFBSMJTUPGQBHFTJOUIF IJTUPSZ Q PCKFDUBSFEFSJWFEGSPNUIF
    BDUVBMTFTTJPOIJTUPSZBTTFFOGSPNUIFVTFSTQFSTQFDUJWF

    4JNJMBSMZ BQBHFDPOUBJOJOHUXP JGSBNF Q TIBTB IJTUPSZ Q PCKFDUEJTUJODUGSPNUIF JGSBNF Q T IJTUPSZ Q
    PCKFDUT EFTQJUFUIFGBDUUIBUUZQJDBM8FCCSPXTFSTQSFTFOUUIFVTFSXJUIKVTUPOF#BDLCVUUPO XJUIBTFTTJPOIJTUPSZ
    UIBUJOUFSMFBWFTUIFOBWJHBUJPOPGUIFUXPJOOFSGSBNFTBOEUIFPVUFSQBHF

    /?=OLCNS*UJTTVHHFTUFEUIBUUPBWPJEMFUUJOHBQBHFIJKBDLUIFIJTUPSZOBWJHBUJPOGBDJMJUJFTPGB6"CZBCVTJOH
    QVTI4UBUF
    Q UIF6"QSPWJEFUIFVTFSXJUIBXBZUPKVNQCBDLUPUIFQSFWJPVTQBHF SBUIFSUIBOKVTUHPJOHCBDLUP
    UIFQSFWJPVTTUBUF
    'PSFYBNQMF UIFCBDLCVUUPODPVMEIBWFBESPQEPXOTIPXJOHKVTUUIFQBHFTJOUIFTFTTJPO
    IJTUPSZ BOEOPUTIPXJOHBOZPGUIFTUBUFT4JNJMBSMZ BOBVSBMCSPXTFSDPVMEIBWFUXPCBDLDPNNBOET POFUIBU
    HPFTCBDLUPUIFQSFWJPVTTUBUF BOEPOFUIBUKVNQTTUSBJHIUCBDLUPUIFQSFWJPVTQBHF

    *OBEEJUJPO BVTFSBHFOUDPVMEJHOPSFDBMMTUP QVTI4UBUF


    Q UIBUBSFJOWPLFEPOBUJNFS PSGSPNFWFOUMJTUFOFSTUIBU
    BSFOPUUSJHHFSFEJOSFTQPOTFUPBDMFBSVTFSBDUJPO PSUIBUBSFJOWPLFEJOSBQJETVDDFTTJPO

      LIQMCHANB?3?<

       *;PCA;NCHA;=LIMM>I=OG?HNM

    $FSUBJOBDUJPOTDBVTFUIF CSPXTJOHDPOUFYU Q UP =0E860C4 ? UPBOFXSFTPVSDF/BWJHBUJPOBMXBZTJOWPMWFT MIOL=?


    <LIQMCHA=IHN?RN XIJDIJTUIFCSPXTJOHDPOUFYUXIJDIXBTSFTQPOTJCMFGPSTUBSUJOHUIFOBWJHBUJPO

    'PSFYBNQMF GPMMPXJOHBIZQFSMJOL Q GPSNTVCNJTTJPO Q BOEUIF XJOEPXPQFO


    Q BOE
    MPDBUJPOBTTJHO
    Q NFUIPETDBOBMMDBVTFBCSPXTJOHDPOUFYUUPOBWJHBUF

    "VTFSBHFOUNBZQSPWJEFWBSJPVTXBZTGPSUIFVTFSUPFYQMJDJUMZDBVTFBCSPXTJOHDPOUFYUUPOBWJHBUF JOBEEJUJPOUP
    UIPTFEFИOFEJOUIJTTQFDJИDBUJPO

    8IFOBCSPXTJOHDPOUFYUJT H;PCA;N?> UPBOFXSFTPVSDF UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     3FMFBTFUIF TUPSBHFNVUFY Q 

     *GUIF TPVSDFCSPXTJOHDPOUFYU Q JTOPUUIFTBNFBTUIF CSPXTJOHDPOUFYU Q CFJOHOBWJHBUFE BOEUIF


    TPVSDFCSPXTJOHDPOUFYU Q JTOPUPOFPGUIF BODFTUPSCSPXTJOHDPOUFYUT Q PGUIF CSPXTJOHDPOUFYU Q
    CFJOHOBWJHBUFE BOEUIF CSPXTJOHDPOUFYU Q CFJOHOBWJHBUFEJTOPUCPUIB UPQMFWFMCSPXTJOHDPOUFYU Q
    BOEPOFPGUIF BODFTUPSCSPXTJOHDPOUFYUT Q PGUIF TPVSDFCSPXTJOHDPOUFYU Q BOEUIF TPVSDFCSPXTJOH
    DPOUFYU Q IBEJUT TBOECPYFEOBWJHBUJPOCSPXTJOHDPOUFYUЙBH Q TFUXIFOJUT BDUJWFEPDVNFOU Q XBT
    DSFBUFE UIFOBCPSUUIFTFTUFQT

    0UIFSXJTF JGUIF CSPXTJOHDPOUFYU Q CFJOHOBWJHBUFEJTB UPQMFWFMCSPXTJOHDPOUFYU Q BOEJTPOFPGUIF


    BODFTUPSCSPXTJOHDPOUFYUT Q PGUIF TPVSDFCSPXTJOHDPOUFYU Q BOEUIF TPVSDFCSPXTJOHDPOUFYU Q IBE
    JUT TBOECPYFEUPQMFWFMOBWJHBUJPOCSPXTJOHDPOUFYUЙBH Q TFUXIFOJUT BDUJWFEPDVNFOU Q XBTDSFBUFE
    UIFOBCPSUUIFTFTUFQT

    *OCPUIDBTFT UIFVTFSBHFOUNBZBEEJUJPOBMMZPЗFSUPPQFOUIFOFXSFTPVSDFJOBOFX UPQMFWFMCSPXTJOH


    DPOUFYU Q PSJOUIF UPQMFWFMCSPXTJOHDPOUFYU Q PGUIF TPVSDFCSPXTJOHDPOUFYU Q BUUIFVTFSTPQUJPO JO
    XIJDIDBTFUIFVTFSBHFOUNVTU OBWJHBUF Q UIBUEFTJHOBUFE UPQMFWFMCSPXTJOHDPOUFYU Q UPUIFOFX
    SFTPVSDFBTJGUIFVTFSIBESFRVFTUFEJUJOEFQFOEFOUMZ

     *GUIF TPVSDFCSPXTJOHDPOUFYU Q JTUIFTBNFBTUIF CSPXTJOHDPOUFYU Q CFJOHOBWJHBUFE BOEUIJT


    CSPXTJOHDPOUFYUIBTJUT TFBNMFTTCSPXTJOHDPOUFYUЙBH Q TFU UIFOИOEUIFOFBSFTU BODFTUPSCSPXTJOH
    DPOUFYU Q UIBUEPFTOPUIBWFJUT TFBNMFTTCSPXTJOHDPOUFYUЙBH Q TFU BOEDPOUJOVFUIFTFTUFQTBTJG C70C
    CSPXTJOHDPOUFYU Q XBTUIFPOFUIBUXBTHPJOHUPCF OBWJHBUFE Q JOTUFBE

     *GUIFSFJTBQSFFYJTUJOHBUUFNQUUPOBWJHBUFUIF CSPXTJOHDPOUFYU Q BOEUIF TPVSDFCSPXTJOHDPOUFYU Q JT


    UIFTBNFBTUIF CSPXTJOHDPOUFYU Q CFJOHOBWJHBUFE BOEUIBUBUUFNQUJTDVSSFOUMZSVOOJOHUIF VOMPBEB
    EPDVNFOU Q BMHPSJUIN BOEUIF PSJHJO Q PGUIF 63- Q PGUIFSFTPVSDFCFJOHMPBEFEJOUIBUOBWJHBUJPOJT

    
    OPUUIF TBNFPSJHJO Q BTUIF PSJHJO Q PGUIF 63- Q PGUIFSFTPVSDFCFJOHMPBEFEJO C78B OBWJHBUJPO UIFO
    BCPSUUIFTFTUFQTXJUIPVUBЗFDUJOHUIFQSFFYJTUJOHBUUFNQUUPOBWJHBUFUIF CSPXTJOHDPOUFYU Q 

     *GUIFSFJTBQSFFYJTUJOHBUUFNQUUPOBWJHBUFUIF CSPXTJOHDPOUFYU Q BOEFJUIFSUIBUBUUFNQUIBTOPUZFU


    NBUVSFE Q JFJUIBTOPUQBTTFEUIFQPJOUPGNBLJOHJUT %PDVNFOU Q UIF BDUJWFEPDVNFOU Q
    PSUIBU
    OBWJHBUJPOTSFTPVSDFJTOPUUPCFGFUDIFEVTJOH)551(&5 PSFRVJWBMFOU Q PSJUTSFTPVSDFT BCTPMVUF63- Q
    EJЗFSTGSPNUIJTBUUFNQUTCZNPSFUIBOUIFQSFTFODF BCTFODF PSWBMVFPGUIF GSBHNFOU Q DPNQPOFOU
    UIFODBODFMUIBUQSFFYJTUJOHBUUFNQUUPOBWJHBUFUIF CSPXTJOHDPOUFYU Q 

     A06<4=C834=C8P4AB*GUIF BCTPMVUF63- Q PGUIFOFXSFTPVSDFJTUIFTBNFBTUIF BEESFTT Q PGUIF BDUJWF


    EPDVNFOU Q PGUIF CSPXTJOHDPOUFYU Q CFJOHOBWJHBUFE JHOPSJOHBOZ GSBHNFOU Q DPNQPOFOUTPGUIPTF
    63-T Q BOEUIFOFXSFTPVSDFJTUPCFGFUDIFEVTJOH)551(&5 PSFRVJWBMFOU Q BOEUIF BCTPMVUF63- Q PG
    UIFOFXSFTPVSDFIBTB GSBHNFOU Q DPNQPOFOU FWFOJGJUJTFNQUZ
    UIFO OBWJHBUFUPUIBUGSBHNFOU
    JEFOUJИFS Q BOEBCPSUUIFTFTUFQT

     $BODFM 0=H QSFFYJTUJOHBUUFNQUUPOBWJHBUFUIF CSPXTJOHDPOUFYU Q 

     *GUIFOFXSFTPVSDFJTUPCFIBOEMFEVTJOHBNFDIBOJTNUIBUEPFTOPUBЗFDUUIFCSPXTJOHDPOUFYU FH
    JHOPSJOHUIFOBWJHBUJPOSFRVFTUBMUPHFUIFSCFDBVTFUIFTQFDJИFETDIFNFJTOPUPOFPGUIFTVQQPSUFE
    QSPUPDPMT UIFOBCPSUUIFTFTUFQTBOEQSPDFFEXJUIUIBUNFDIBOJTNJOTUFBE

     1SPNQUUPVOMPBE Q UIF %PDVNFOU Q PCKFDU*GUIFVTFS SFGVTFEUPBMMPXUIFEPDVNFOUUPCFVOMPBEFE Q


    UIFOUIFTFTUFQTNVTUCFBCPSUFE

     *GUIFOFXSFTPVSDFJTUPCFIBOEMFECZEJTQMBZJOHTPNFTPSUPGJOMJOFDPOUFOU FHBOFSSPSNFTTBHFCFDBVTF


    UIFTQFDJИFETDIFNFJTOPUPOFPGUIFTVQQPSUFEQSPUPDPMT PSBOJOMJOFQSPNQUUPBMMPXUIFVTFSUPTFMFDU B
    SFHJTUFSFEIBOEMFS Q GPSUIFHJWFOTDIFNF UIFO EJTQMBZUIFJOMJOFDPOUFOU Q BOEBCPSUUIFTFTUFQT

    *HM> %GMA><:L>H?:K>@BLM>K>=A:G=E>K;>BG@NL>= MA>:E@HKBMAFPBEE;>K>BGOHD>=PBMA


    :G>P1.(MHA:G=E>MA>K>JN>LM

     *GUIFOFXSFTPVSDFJTUPCFGFUDIFEVTJOH)551(&5 PSFRVJWBMFOU Q UIFODIFDLJGUIFSFBSFBOZ SFMFWBOU


    BQQMJDBUJPODBDIFT Q UIBUBSFJEFOUJИFECZB63-XJUIUIF TBNFPSJHJO Q BTUIF63-JORVFTUJPO BOEUIBU
    IBWFUIJT63-BTPOFPGUIFJSFOUSJFT FYDMVEJOHFOUSJFTNBSLFEBT GPSFJHO Q *GTP UIFOUIFVTFSBHFOUNVTU
    UIFOHFUUIFSFTPVSDFGSPNUIF NPTUBQQSPQSJBUFBQQMJDBUJPODBDIF Q PGUIPTFUIBUNBUDI

    'PSFYBNQMF JNBHJOFBO)5.-QBHFXJUIBOBTTPDJBUFEBQQMJDBUJPODBDIFEJTQMBZJOHBOJNBHFBOEB
    GPSN XIFSFUIFJNBHFJTBMTPVTFECZTFWFSBMPUIFSBQQMJDBUJPODBDIFT*GUIFVTFSSJHIUDMJDLTPOUIF
    JNBHFBOEDIPPTFT7JFX*NBHF UIFOUIFVTFSBHFOUDPVMEEFDJEFUPTIPXUIFJNBHFGSPNBOZPG
    UIPTFDBDIFT CVUJUJTMJLFMZUIBUUIFNPTUVTFGVMDBDIFGPSUIFVTFSXPVMECFUIFPOFUIBUXBTVTFE
    GPSUIFBGPSFNFOUJPOFE)5.-QBHF0OUIFPUIFSIBOE JGUIFVTFSTVCNJUTUIFGPSN BOEUIFGPSN
    EPFTB1045TVCNJTTJPO UIFOUIFVTFSBHFOUXJMMOPUVTFBOBQQMJDBUJPODBDIFBUBMMUIFTVCNJTTJPO
    XJMMCFNBEFUPUIFOFUXPSL

    0UIFSXJTF VOMFTTJUIBTBMSFBEZCFFOPCUBJOFE GFUDI Q UIFOFXSFTPVSDF XJUIUIF <0=D0;A438A42CQ06 TFU

    *GUIFSFTPVSDFJTCFJOHGFUDIFEVTJOHBNFUIPEPUIFSUIBOPOF FRVJWBMFOUUP Q )551T(&5 PS JGUIF


    OBWJHBUJPOBMHPSJUIN Q XBTJOWPLFEBTBSFTVMUPGUIF GPSNTVCNJTTJPOBMHPSJUIN Q UIFOUIF GFUDIJOH
    BMHPSJUIN Q NVTUCFJOWPLFEGSPNUIF PSJHJO Q PGUIF BDUJWFEPDVNFOU Q PGUIF TPVSDFCSPXTJOH
    DPOUFYU Q JGBOZ

    *GUIF CSPXTJOHDPOUFYU Q CFJOHOBWJHBUFEJTB DIJMECSPXTJOHDPOUFYU Q GPSBO JGSBNF Q PS PCKFDU Q
    FMFNFOU UIFOUIF GFUDIJOHBMHPSJUIN Q NVTUCFJOWPLFEGSPNUIF JGSBNF Q PS PCKFDU Q FMFNFOUT
    CSPXTJOHDPOUFYUTDPQFPSJHJO Q JGJUIBTPOF

     "UUIJTQPJOU VOMFTTUIJTTUFQIBTBMSFBEZCFFOSFBDIFEPODFCFGPSFJOUIFFYFDVUJPOPGUIJTJOTUBODFPGUIF


    BMHPSJUIN UIFVTFSBHFOUTNVTUSFUVSOUPXIBUFWFSBMHPSJUINJOWPLFEUIFOBWJHBUJPOTUFQTBOENVTU
    DPOUJOVFUIFTFTUFQTBTZODISPOPVTMZ

     *GGFUDIJOHUIFSFTPVSDFSFTVMUTJOBSFEJSFDU BOEFJUIFSUIF 63- Q PGUIFUBSHFUPGUIFSFEJSFDUIBTUIF TBNF


    PSJHJO Q BTUIFPSJHJOBMSFTPVSDF PSUIFSFTPVSDFJTCFJOHPCUBJOFEVTJOHUIF1045NFUIPEPSBTBGFNFUIPE
    JO)551UFSNT
    SFUVSOUP UIFTUFQMBCFMFEGSBHNFOUJEFOUJИFST Q XJUIUIFOFXSFTPVSDF

    0UIFSXJTF JGGFUDIJOHUIFSFTPVSDFSFTVMUTJOBSFEJSFDUCVUUIF 63- Q PGUIFUBSHFUPGUIFSFEJSFDUEPFTOPU


    IBWFUIF TBNFPSJHJO Q BTUIFPSJHJOBMSFTPVSDFBOEUIFSFTPVSDFJTCFJOHPCUBJOFEVTJOHBNFUIPEUIBUJT
    OFJUIFSUIF1045NFUIPEOPSBTBGFNFUIPE JO)551UFSNT
    UIFOBCPSUUIFTFTUFQT5IFVTFSBHFOUNBZ
    JOEJDBUFUPUIFVTFSUIBUUIFOBWJHBUJPOIBTCFFOBCPSUFEGPSTFDVSJUZSFBTPOT

    
     8BJUGPSPOFPSNPSFCZUFTUPCFBWBJMBCMFPSGPSUIFVTFSBHFOUUPFTUBCMJTIUIBUUIFSFTPVSDFJORVFTUJPOJT
    FNQUZ%VSJOHUIJTUJNF UIFVTFSBHFOUNBZBMMPXUIFVTFSUPDBODFMUIJTOBWJHBUJPOBUUFNQUPSTUBSUPUIFS
    OBWJHBUJPOBUUFNQUT

     *GUIFSFTPVSDFXBTOPUGFUDIFEGSPNBO BQQMJDBUJPODBDIF Q BOEXBTUPCFGFUDIFEVTJOH)551(&5 PS


    FRVJWBMFOU Q BOEJUT63- NBUDIFTUIFGBMMCBDLOBNFTQBDF Q PGPOFPSNPSF SFMFWBOUBQQMJDBUJPO
    DBDIFT Q BOEUIFVTFSEJEOUDBODFMUIFOBWJHBUJPOBUUFNQUEVSJOHUIFQSFWJPVTTUFQ BOEUIFOBWJHBUJPO
    BUUFNQUGBJMFE FHUIFTFSWFSSFUVSOFEBYYPSYYTUBUVTDPEF PSFRVJWBMFOU Q PSUIFSFXBTB%/4FSSPS

    UIFO

    -FU 20=3830C4 CFUIF GBMMCBDLSFTPVSDF Q TQFDJИFEGPSUIF GBMMCBDLOBNFTQBDF Q JORVFTUJPO*GNVMUJQMF


    BQQMJDBUJPODBDIFTNBUDI UIFVTFSBHFOUNVTUVTFUIFGBMMCBDLPGUIF NPTUBQQSPQSJBUFBQQMJDBUJPODBDIF Q
    PGUIPTFUIBUNBUDI

    *G 20=3830C4 JTOPUNBSLFEBT GPSFJHO Q UIFOUIFVTFSBHFOUNVTUEJTDBSEUIFGBJMFEMPBEBOEJOTUFBE


    DPOUJOVFBMPOHUIFTFTUFQTVTJOH 20=3830C4 BTUIFSFTPVSDF 5IFEPDVNFOUTBEESFTT Q JGBQQSPQSJBUF XJMM
    TUJMMCFUIFPSJHJOBMMZSFRVFTUFE63- OPUUIFGBMMCBDL63- CVUUIFVTFSBHFOUNBZJOEJDBUFUPUIFVTFSUIBU
    UIFPSJHJOBMQBHFMPBEGBJMFE UIBUUIFQBHFVTFEXBTBGBMMCBDLSFTPVSDF BOEXIBUUIF63-PGUIFGBMMCBDL
    SFTPVSDFBDUVBMMZJT

     *GUIFEPDVNFOUTPVUPGCBOENFUBEBUB FH)551IFBEFST


    OPUDPVOUJOHBOZ UZQFJOGPSNBUJPO Q TVDIBT
    UIF$POUFOU5ZQF)551IFBEFS
    SFRVJSFTTPNFTPSUPGQSPDFTTJOHUIBUXJMMOPUBЗFDUUIFCSPXTJOHDPOUFYU
    UIFOQFSGPSNUIBUQSPDFTTJOHBOEBCPSUUIFTFTUFQT

    /N<AIKH<>LLBG@FB@AM;>MKB@@>K>=;R :FHG@LMHMA>KMABG@L MA>?HEEHPBG@

    X $00,LM:MNL<H=>L> @  *HHGM>GMHK .>L>MHGM>GM


    X $00,HGM>GM
    BLIHLBMBHGA>:=>KL
    X *>MPHKD>KKHKL

    )551SFTQPOTFTUIBUEPOPUJODMVEFBDIBMMFOHFSFDPHOJ[FECZUIFVTFSBHFOUNVTUCFQSPDFTTFEBTJG
    UIFZIBEOPDIBMMFOHF FHSFOEFSJOHUIFFOUJUZCPEZBTJGUIFSFTQPOTFIBECFFO0,

    6TFSBHFOUTNBZTIPXUIFFOUJUZCPEZPGBO)551SFTQPOTFFWFOXIFOUIFSFTQPOTFEPJODMVEFB
    SFDPHOJ[FEDIBMMFOHF XJUIUIFPQUJPOUPMPHJOCFJOHJODMVEFEJOBOPONPEBMGBTIJPO UPFOBCMFUIF
    JOGPSNBUJPOQSPWJEFECZUIFTFSWFSUPCFVTFECZUIFVTFSCFGPSFBVUIFOUJDBUJOH4JNJMBSMZ VTFSBHFOUT
    TIPVMEBMMPXUIFVTFSUPBVUIFOUJDBUF JOBOPONPEBMGBTIJPO
    BHBJOTUBVUIFOUJDBUJPODIBMMFOHFTJODMVEFEJO
    PUIFSSFTQPOTFTTVDIBT)5510,SFTQPOTFT FЗFDUJWFMZBMMPXJOHSFTPVSDFTUPQSFTFOU)551MPHJOGPSNT
    XJUIPVUSFRVJSJOHUIFJSVTF

     -FU CH?4 CF UIFTOJЗFEUZQFPGUIFSFTPVSDF Q 

     *GUIFVTFSBHFOUIBTCFFODPOИHVSFEUPQSPDFTTSFTPVSDFTPGUIFHJWFO CH?4 VTJOHTPNFNFDIBOJTNPUIFS


    UIBOSFOEFSJOHUIFDPOUFOUJOB CSPXTJOHDPOUFYU Q UIFOTLJQUIJTTUFQ0UIFSXJTF JGUIF CH?4 JTPOFPGUIF
    GPMMPXJOHUZQFT KVNQUPUIFBQQSPQSJBUFFOUSZJOUIFGPMMPXJOHMJTU BOEQSPDFTTUIFSFTPVSDFBTEFTDSJCFE
    UIFSF
    K
    X O@SOCOHG 
    K
    X O@SOCOHG N<I?=JS@? 
    'PMMPXUIFTUFQTHJWFOJOUIF )5.-EPDVNFOU Q TFDUJPO BOEBCPSUUIFTFTUFQT

    X HSNSJ??H>CHACH
    SHG
    X <KKGD><ODJISHG
    X O@SOSHG
    'PMMPXUIFTUFQTHJWFOJOUIF 9.-EPDVNFOU Q TFDUJPO*GUIBUTFDUJPOEFUFSNJOFTUIBUUIFDPOUFOU
    JT =>C UPCFEJTQMBZFEBTBHFOFSJD9.-EPDVNFOU UIFOQSPDFFEUPUIFOFYUTUFQJOUIJTPWFSBMMTFU
    PGTUFQT0UIFSXJTF BCPSUUIFTFTUFQT

    X O@SOKG<DI
    'PMMPXUIFTUFQTHJWFOJOUIF QMBJOUFYUИMF Q TFDUJPO BOEBCPSUUIFTFTUFQT

    X MOJJILN?>CG;A?NSJ?
    'PMMPXUIFTUFQTHJWFOJOUIF JNBHF Q TFDUJPO BOEBCPSUUIFTFTUFQT
    J
    X NSJ?NB;NQCFFOM?;H?RN?LH;F;JJFC=;NCIHNIL?H>?LNB?=IHN?HNCHNB? <LIQMCHA=IHN?RN
    'PMMPXUIFTUFQTHJWFOJOUIF QMVHJO Q TFDUJPO BOEBCPSUUIFTFTUFQT

    
    /?NNCHANB?>I=OG?HNM;>>L?MM*GUIFSFJTOP IP?LLC>?1.( UIFOBOZ %PDVNFOU Q DSFBUFECZUIFTF
    TUFQTNVTUIBWFJUT BEESFTT Q TFUUPUIF 63- Q UIBUXBTPSJHJOBMMZUPCF GFUDIFE Q JHOPSJOHBOZPUIFSEBUB
    UIBUXBTVTFEUPPCUBJOUIFSFTPVSDF FHUIFFOUJUZCPEZJOUIFDBTFPGB1045TVCNJTTJPOJTOPUQBSUPG UIF
    EPDVNFOUTBEESFTT Q OPSJTUIF63-PGUIFGBMMCBDLSFTPVSDFJOUIFDBTFPGUIFPSJHJOBMMPBEIBWJOHGBJMFE
    BOEUIBU63-IBWJOHCFFOGPVOEUPNBUDIB GBMMCBDLOBNFTQBDF Q
    )PXFWFS JGUIFSF 8B BO PWFSSJEF
    63- Q UIFOBOZ %PDVNFOU Q DSFBUFECZUIFTFTUFQTNVTUIBWFJUT BEESFTT Q TFUUPUIBU 63- Q JOTUFBE

    *HM> G HO>KKB=>1.( I BLL>MPA>G =>K>?>K>G<BG@: C:O:L<KBIM 1.( I

    L?;NCHA;H?Q "J>PH@IO I<D?=N8IFOB %PDVNFOU Q JTDSFBUFEBTQBSUPGUIFBCPWFTUFQT BOFX


    8JOEPX Q PCKFDUNVTUCFDSFBUFEBOEBTTPDJBUFEXJUIUIF %PDVNFOU Q XJUIPOFFYDFQUJPOJGUIF CSPXTJOH
    DPOUFYU Q TPOMZFOUSZJOJUT TFTTJPOIJTUPSZ Q JTUIF BCPVUCMBOL Q %PDVNFOU Q UIBUXBTBEEFEXIFOUIF
    CSPXTJOHDPOUFYU Q XBTDSFBUFE BOEOBWJHBUJPOJTPDDVSSJOHXJUI SFQMBDFNFOUFOBCMFE Q BOEUIBU
    %PDVNFOU Q IBTUIF TBNFPSJHJO Q BTUIFOFX %PDVNFOU Q UIFOUIF 8JOEPX Q PCKFDUPGUIBU %PDVNFOU Q
    NVTUCFVTFEJOTUFBE BOEUIF EPDVNFOU Q BUUSJCVUFPGUIF 8JOEPX Q PCKFDUNVTUCFDIBOHFEUPQPJOUUP
    UIFOFX %PDVNFOU Q JOTUFBE

     $>=3>2D<4=C2>=C4=C*G HJWFO CH?4 UIFOFXSFTPVSDFJTUPCFIBOEMFECZEJTQMBZJOHTPNFTPSUPGJOMJOF


    DPOUFOU FHBOBUJWFSFOEFSJOHPGUIFDPOUFOU BOFSSPSNFTTBHFCFDBVTFUIFTQFDJИFEUZQFJTOPU
    TVQQPSUFE PSBOJOMJOFQSPNQUUPBMMPXUIFVTFSUPTFMFDU BSFHJTUFSFEIBOEMFS Q GPSUIFHJWFOUZQF UIFO
    EJTQMBZUIFJOMJOFDPOUFOU Q BOEBCPSUUIFTFTUFQT

    *HM> %GMA><:L>H?:K>@BLM>K>=A:G=E>K;>BG@NL>= MA>:E@HKBMAFPBEE;>K>BGOHD>=PBMA


    :G>P1.(MHA:G=E>MA>K>JN>LM

     0UIFSXJTF UIFEPDVNFOUT CH?4 JTTVDIUIBUUIFSFTPVSDFXJMMOPUBЗFDUUIFCSPXTJOHDPOUFYU FHCFDBVTF


    UIFSFTPVSDFJTUPCFIBOEFEUPBOFYUFSOBMBQQMJDBUJPO1SPDFTTUIFSFTPVSDFBQQSPQSJBUFMZ

    4PNFPGUIFTFDUJPOTCFMPX UPXIJDIUIFBCPWFBMHPSJUINEFGFSTJODFSUBJODBTFT SFRVJSFUIFVTFSBHFOUUP OJ>;N?


    NB?M?MMCIHBCMNILSQCNBNB?H?QJ;A?8IFOBVTFSBHFOUJTSFRVJSFEUPEPUIJT JUNVTU RVFVFBUBTL Q UPSVO
    UIFGPMMPXJOHTUFQT

     6OMPBE Q UIF %PDVNFOU Q PCKFDUPGUIF DVSSFOUFOUSZ Q XJUIUIF A42H2;4 QBSBNFUFSTFUUPGBMTF

     %@NB?H;PCA;NCIHQ;MCHCNC;N?>@IL >GMKRNI=:M> I@;H?HNLS

     3FQMBDFUIF %PDVNFOU Q PGUIFFOUSZCFJOHVQEBUFE BOEBOZPUIFSFOUSJFTUIBUSFGFSFODFE


    UIFTBNFEPDVNFOUBTUIBUFOUSZ XJUIUIFOFX %PDVNFOU Q 

     5SBWFSTFUIFIJTUPSZ Q UPUIFOFXFOUSZ

    *HM> 0ABL<:GHGERA:II>GB?MA>>GMKR;>BG@NI=:M>=BLGHMA> <NKK>GM>GMKR I


    :G=<:GG>O>KA:II>GPBMA K>IE:<>F>GM>G:;E>= I %MA:II>GLPA>GMA>NL>K
    MKB>=MHMK:O>KL>MH:L>LLBHGABLMHKR>GMKRMA:MGHEHG@>KA:=: #H<NF>GM I H;C><M 

    +NB?LQCM?

     3FNPWFBMMUIFFOUSJFTJOUIF CSPXTJOHDPOUFYU Q T TFTTJPOIJTUPSZ Q BGUFSUIF DVSSFOU


    FOUSZ Q *GUIF DVSSFOUFOUSZ Q JTUIFMBTUFOUSZJOUIFTFTTJPOIJTUPSZ UIFOOPFOUSJFTBSF
    SFNPWFE

    *HM> 0ABL =H>LGMG><>LL:KBERA:O>MH:Z><M I MA>NL>K:@>GMLNL>K


    BGM>K?:<>

     3FNPWFBOZ UBTLT Q RVFVFECZUIF IJTUPSZUSBWFSTBMUBTLTPVSDF Q 

     "QQFOEBOFXFOUSZBUUIFFOEPGUIF )JTUPSZ Q PCKFDUSFQSFTFOUJOHUIFOFXSFTPVSDFBOE


    JUT %PDVNFOU Q PCKFDUBOESFMBUFETUBUF

     5SBWFSTFUIFIJTUPSZ Q UPUIFOFXFOUSZ*GUIFOBWJHBUJPOXBTJOJUJBUFEXJUI SFQMBDFNFOU


    FOBCMFE Q UIFOUIFUSBWFSTBMNVTUJUTFMGCFJOJUJBUFEXJUI SFQMBDFNFOUFOBCMFE Q 

     5IF OBWJHBUJPOBMHPSJUIN Q IBTOPX G;NOL?>

    
     A06<4=C834=C8P4A;>>? 4QJOUIFFWFOUMPPQ Q GPSBVTFSBHFOUEFИOFEBNPVOUPGUJNF BTEFTJSFECZUIF
    VTFSBHFOUJNQMFNFOUPS 5IJTJTJOUFOEFEUPBMMPXUIFVTFSBHFOUUPPQUJNJ[FUIFVTFSFYQFSJFODFJOUIFGBDF
    PGQFSGPSNBODFDPODFSOT

     *GUIF %PDVNFOU Q PCKFDUIBTOPQBSTFS PSJUTQBSTFSIBT TUPQQFEQBSTJOH Q PSUIFVTFSBHFOUIBTSFBTPOUP


    CFMJFWFUIFVTFSJTOPMPOHFSJOUFSFTUFEJOTDSPMMJOHUPUIFGSBHNFOUJEFOUJИFS UIFOBCPSUUIFTFTUFQT

     4DSPMMUPUIFGSBHNFOUJEFOUJИFS Q HJWFOJO UIFEPDVNFOUTDVSSFOUBEESFTT Q *GUIJTGBJMTUPИOE BO


    JOEJDBUFEQBSUPGUIFEPDVNFOU Q UIFOSFUVSOUPUIF 5A06<4=C834=C8P4A;>>? TUFQ

    5IF UBTLTPVSDF Q GPSUIJT UBTL Q JTUIF OFUXPSLJOHUBTLTPVSDF Q 

       ,;A?FI;>JLI=?MMCHAGI>?F@IL$0)(]F?M

    8IFOBO)5.-EPDVNFOUJTUPCFMPBEFEJOB CSPXTJOHDPOUFYU Q UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP DSFBUFB


    %PDVNFOU PCKFDU Q NBSLJUBTCFJOHBO )5.-EPDVNFOU Q DSFBUFBO )5.-QBSTFS Q BOEBTTPDJBUFJUXJUIUIF
    EPDVNFOU&BDI UBTL Q UIBUUIF OFUXPSLJOHUBTLTPVSDF Q QMBDFTPOUIF UBTLRVFVF Q XIJMFUIF GFUDIJOH
    BMHPSJUIN Q SVOTNVTUUIFOИMMUIFQBSTFST JOQVUTUSFBN Q XJUIUIFGFUDIFECZUFTBOEDBVTFUIF )5.-QBSTFS Q UP
    QFSGPSNUIFBQQSPQSJBUFQSPDFTTJOHPGUIFJOQVUTUSFBN

    *HM> 0A> BGINMLMK>:F I <HGO>KML;RM>LBGMH<A:K:<M>KL?HKNL>BGMA> MHD>GBS>K I 0ABLIKH<>LL


    K>EB>L BGI:KM HG<A:K:<M>K>G<H=BG@BG?HKF:MBHG?HNG=BGMA>K>:E HGM>GM
    0RI>F>M:=:M: I H?
    MA>K>LHNK<>MA>LGBZ>=MRI>BLGHMNL>=?HKMABLINKIHL>

    8IFOOPNPSFCZUFTBSFBWBJMBCMF UIFVTFSBHFOUNVTU RVFVFBUBTL Q GPSUIFQBSTFSUPQSPDFTTUIFJNQMJFE&0'


    DIBSBDUFS XIJDIFWFOUVBMMZDBVTFTB MPBE FWFOUUPCFИSFE

    "GUFSDSFBUJOHUIF %PDVNFOU Q PCKFDU CVUCFGPSFBOZTDSJQUFYFDVUJPO DFSUBJOMZCFGPSFUIFQBSTFS TUPQT Q UIFVTFS


    BHFOUNVTU VQEBUFUIFTFTTJPOIJTUPSZXJUIUIFOFXQBHF Q 

    *HM> IIEB<:MBHG<:<A>L>E><MBHG I  A:II>GL BGMA>$0)(I:KL>K I

    5IF UBTLTPVSDF Q GPSUIFUXPUBTLTNFOUJPOFEJOUIJTTFDUJPONVTUCFUIF OFUXPSLJOHUBTLTPVSDF Q 

       ,;A?FI;>JLI=?MMCHAGI>?F@IL4)(]F?M

    8IFOGBDFEXJUIEJTQMBZJOHBO9.-ИMFJOMJOF VTFSBHFOUTNVTUИSTU DSFBUFB %PDVNFOU PCKFDU Q GPMMPXJOHUIF


    SFRVJSFNFOUTPGUIF9.-BOE/BNFTQBDFTJO9.-SFDPNNFOEBUJPOT 3'$ %0.$PSF BOEPUIFSSFMFWBOU
    TQFDJИDBUJPOT <9.-> Q <9.-/4> Q <3'$> Q <%0.$03&> Q

    5IFBDUVBM)551IFBEFSTBOEPUIFSNFUBEBUB OPUUIFIFBEFSTBTNVUBUFEPSJNQMJFECZUIFBMHPSJUINTHJWFOJOUIJT
    TQFDJИDBUJPO BSFUIFPOFTUIBUNVTUCFVTFEXIFOEFUFSNJOJOHUIFDIBSBDUFSFODPEJOHBDDPSEJOHUPUIFSVMFTHJWFOJO
    UIFBCPWFTQFDJИDBUJPOT0ODFUIFDIBSBDUFSFODPEJOHJTFTUBCMJTIFE UIF EPDVNFOUTDIBSBDUFSFODPEJOH Q NVTUCF
    TFUUPUIBUDIBSBDUFSFODPEJOH

    *GUIFSPPUFMFNFOU BTQBSTFEBDDPSEJOHUPUIF9.-TQFDJИDBUJPOTDJUFEBCPWF JTGPVOEUPCFBO IUNM Q FMFNFOUXJUI


    BOBUUSJCVUF NBOJGFTU Q XIPTFWBMVFJTOPUUIFFNQUZTUSJOH UIFO BTTPPOBTUIFFMFNFOUJT JOTFSUFEJOUPUIF
    EPDVNFOU Q UIFVTFSBHFOUNVTU SFTPMWF Q UIFWBMVFPGUIBUBUUSJCVUFSFMBUJWFUPUIBUFMFNFOU BOEJGUIBUJT
    TVDDFTTGVM NVTUSVOUIF BQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN Q XJUIUIFSFTVMUJOH BCTPMVUF63- Q XJUIBOZ
    GSBHNFOU Q DPNQPOFOUSFNPWFEBTUIFNBOJGFTU63- BOEQBTTJOHJOUIFOFXMZDSFBUFE %PDVNFOU Q 0UIFSXJTF JG
    UIFBUUSJCVUFJTBCTFOU JUTWBMVFJTUIFFNQUZTUSJOH PSSFTPMWJOHJUTWBMVFGBJMT UIFOBTTPPOBTUIFSPPUFMFNFOUJT
    JOTFSUFEJOUPUIFEPDVNFOU Q UIFVTFSBHFOUNVTUSVOUIF BQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN Q XJUIOPNBOJGFTU
    BOEQBTTJOHJOUIF %PDVNFOU Q 

    *HM> ><:NL>MA>IKH<>LLBG@H?MA> F:GB?>LM I :MMKB;NM>A:II>GLHGERHG<>MA>KHHM>E>F>GMBL


    I:KL>= :GR1.(LK>?>K>G<>=;RIKH<>LLBG@BGLMKN<MBHGL;>?HK>MA>KHHM>E>F>GMLN<A:L QFE
    LMRE>LA>>M :G= Q;E ,%LPBEE;>?>M<A>=?KHFMA>G>MPHKD:G=<:GGHM;><:<A>=

    6TFSBHFOUTNBZFYBNJOFUIFOBNFTQBDFPGUIFSPPU &MFNFOU Q OPEFPGUIJT %PDVNFOU Q PCKFDUUPQFSGPSN


    OBNFTQBDFCBTFEEJTQBUDIUPBMUFSOBUJWFQSPDFTTJOHUPPMT FHEFUFSNJOJOHUIBUUIFDPOUFOUJTBDUVBMMZBTZOEJDBUJPO
    GFFEBOEQBTTJOHJUUPBGFFEIBOEMFS*GTVDIQSPDFTTJOHJTUPUBLFQMBDF BCPSUUIFTUFQTJOUIJTTFDUJPO BOEKVNQUP
    UIFOFYUTUFQ Q MBCFMFEOPOEPDVNFOUDPOUFOU
    JOUIF OBWJHBUF Q TUFQTBCPWF

    
    0UIFSXJTF UIFO XJUIUIFOFXMZDSFBUFE %PDVNFOU Q UIFVTFSBHFOUTNVTU VQEBUFUIFTFTTJPOIJTUPSZXJUIUIFOFX
    QBHF Q 6TFSBHFOUTNBZEPUIJTCFGPSFUIFDPNQMFUFEPDVNFOUIBTCFFOQBSTFE UIVTBDIJFWJOH 8=2A4<4=C0;
    A4=34A8=6
    BOENVTUEPUIJTCFGPSFBOZTDSJQUTBSFUPCFFYFDVUFE

    &SSPSNFTTBHFTGSPNUIFQBSTFQSPDFTT FH9.-OBNFTQBDFXFMMGPSNFEOFTTFSSPST
    NBZCFSFQPSUFEJOMJOFCZ
    NVUBUJOHUIF %PDVNFOU Q 

       ,;A?FI;>JLI=?MMCHAGI>?F@ILN?RN]F?M

    8IFOBQMBJOUFYUEPDVNFOUJTUPCFMPBEFEJOB CSPXTJOHDPOUFYU Q UIFVTFSBHFOUTIPVME RVFVFBUBTL Q UP DSFBUF


    B %PDVNFOU PCKFDU Q NBSLJUBTCFJOHBO )5.-EPDVNFOU Q DSFBUFBO )5.-QBSTFS Q BTTPDJBUFJUXJUIUIF
    EPDVNFOU BDUBTJGUIFUPLFOJ[FSIBEFNJUUFEBTUBSUUBHUPLFOXJUIUIFUBHOBNFQSFGPMMPXFECZBTJOHMF6 "
    -*/&'&&% -'
    DIBSBDUFS BOETXJUDIUIF )5.-QBSTFS Q TUPLFOJ[FSUPUIF 1-"*/5&95TUBUF Q &BDI UBTL Q UIBUUIF
    OFUXPSLJOHUBTLTPVSDF Q QMBDFTPOUIF UBTLRVFVF Q XIJMFUIF GFUDIJOHBMHPSJUIN Q SVOTNVTUUIFOИMMUIFQBSTFST
    JOQVUTUSFBN Q XJUIUIFGFUDIFECZUFTBOEDBVTFUIF )5.-QBSTFS Q UPQFSGPSNUIFBQQSPQSJBUFQSPDFTTJOHPGUIF
    JOQVUTUSFBN

    5IFSVMFTGPSIPXUPDPOWFSUUIFCZUFTPGUIFQMBJOUFYUEPDVNFOUJOUPBDUVBMDIBSBDUFSTBSFEFИOFEJO3'$ 3'$
     BOETVCTFRVFOUWFSTJPOTUIFSFPG <3'$> Q <3'$> Q

    5IF EPDVNFOUTDIBSBDUFSFODPEJOH Q NVTUCFTFUUPUIFDIBSBDUFSFODPEJOHVTFEUPEFDPEFUIFEPDVNFOU

    6QPODSFBUJPOPGUIF %PDVNFOU Q PCKFDU UIFVTFSBHFOUNVTUSVOUIF BQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN Q XJUIOP


    NBOJGFTU BOEQBTTJOHJOUIFOFXMZDSFBUFE %PDVNFOU Q 

    8IFOOPNPSFCZUFTBSFBWBJMBCMF UIFVTFSBHFOUNVTU RVFVFBUBTL Q GPSUIFQBSTFSUPQSPDFTTUIFJNQMJFE&0'


    DIBSBDUFS XIJDIFWFOUVBMMZDBVTFTB MPBE FWFOUUPCFИSFE

    "GUFSDSFBUJOHUIF %PDVNFOU Q PCKFDU CVUQPUFOUJBMMZCFGPSFUIFQBHFIBTИOJTIFEQBSTJOH UIFVTFSBHFOUNVTU VQEBUF


    UIFTFTTJPOIJTUPSZXJUIUIFOFXQBHF Q 

    6TFSBHFOUTNBZBEEDPOUFOUUPUIF IFBE Q FMFNFOUPGUIF %PDVNFOU Q FHMJOLJOHUPBTUZMFTIFFUPSBO9#-


    CJOEJOH QSPWJEJOHTDSJQU HJWJOHUIFEPDVNFOUB UJUMF Q FUD

    5IF UBTLTPVSDF Q GPSUIFUXPUBTLTNFOUJPOFEJOUIJTTFDUJPONVTUCFUIF OFUXPSLJOHUBTLTPVSDF Q 

       ,;A?FI;>JLI=?MMCHAGI>?F@ILCG;A?M

    8IFOBOJNBHFSFTPVSDFJTUPCFMPBEFEJOB CSPXTJOHDPOUFYU Q UIFVTFSBHFOUTIPVME DSFBUFB %PDVNFOU PCKFDU Q


    NBSLJUBTCFJOHBO )5.-EPDVNFOU Q BQQFOEBO IUNM Q FMFNFOUUPUIF %PDVNFOU Q BQQFOEB IFBE Q FMFNFOU
    BOEB CPEZ Q FMFNFOUUPUIF IUNM Q FMFNFOU BQQFOEBO JNH Q UPUIF CPEZ Q FMFNFOU BOETFUUIF TSD Q
    BUUSJCVUFPGUIF JNH Q FMFNFOUUPUIFBEESFTTPGUIFJNBHF

    5IFO UIFVTFSBHFOUNVTUBDUBTJGJUIBE TUPQQFEQBSTJOH Q 

    6QPODSFBUJPOPGUIF %PDVNFOU Q PCKFDU UIFVTFSBHFOUNVTUSVOUIF BQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN Q XJUIOP


    NBOJGFTU BOEQBTTJOHJOUIFOFXMZDSFBUFE %PDVNFOU Q 

    "GUFSDSFBUJOHUIF %PDVNFOU Q PCKFDU CVUQPUFOUJBMMZCFGPSFUIFQBHFIBTИOJTIFEGVMMZMPBEJOH UIFVTFSBHFOUNVTU


    VQEBUFUIFTFTTJPOIJTUPSZXJUIUIFOFXQBHF Q 

    6TFSBHFOUTNBZBEEDPOUFOUUPUIF IFBE Q FMFNFOUPGUIF %PDVNFOU Q PSBUUSJCVUFTUPUIF JNH Q FMFNFOU FHUP
    MJOLUPBTUZMFTIFFUPSBO9#-CJOEJOH UPQSPWJEFBTDSJQU UPHJWFUIFEPDVNFOUB UJUMF Q FUD

       ,;A?FI;>JLI=?MMCHAGI>?F@IL=IHN?HNNB;NOM?MJFOACHM

    8IFOBSFTPVSDFUIBUSFRVJSFTBOFYUFSOBMSFTPVSDFUPCFSFOEFSFEJTUPCFMPBEFEJOB CSPXTJOHDPOUFYU Q UIFVTFS


    BHFOUTIPVME DSFBUFB %PDVNFOU PCKFDU Q NBSLJUBTCFJOHBO )5.-EPDVNFOU Q BQQFOEBO IUNM Q FMFNFOUUPUIF
    %PDVNFOU Q BQQFOEB IFBE Q FMFNFOUBOEB CPEZ Q FMFNFOUUPUIF IUNM Q FMFNFOU BQQFOEBO FNCFE Q UPUIF
    CPEZ Q FMFNFOU BOETFUUIF TSD Q BUUSJCVUFPGUIF FNCFE Q FMFNFOUUPUIFBEESFTTPGUIFSFTPVSDF

    5IFO UIFVTFSBHFOUNVTUBDUBTJGJUIBE TUPQQFEQBSTJOH Q 

    6QPODSFBUJPOPGUIF %PDVNFOU Q PCKFDU UIFVTFSBHFOUNVTUSVOUIF BQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN Q XJUIOP


    NBOJGFTU BOEQBTTJOHJOUIFOFXMZDSFBUFE %PDVNFOU Q 

    
    "GUFSDSFBUJOHUIF %PDVNFOU Q PCKFDU CVUQPUFOUJBMMZCFGPSFUIFQBHFIBTИOJTIFEGVMMZMPBEJOH UIFVTFSBHFOUNVTU
    VQEBUFUIFTFTTJPOIJTUPSZXJUIUIFOFXQBHF Q 

    6TFSBHFOUTNBZBEEDPOUFOUUPUIF IFBE Q FMFNFOUPGUIF %PDVNFOU Q PSBUUSJCVUFTUPUIF FNCFE Q FMFNFOU FH
    UPMJOLUPBTUZMFTIFFUPSBO9#-CJOEJOH PSUPHJWFUIFEPDVNFOUB UJUMF Q 

    *HM> %?MA> L:G=;HQ>=IEN@BGL;KHPLBG@<HGM>QM\:@ I P:LL>MHGMA> ;KHPLBG@<HGM>QM I


    PA>GMA> #H<NF>GM I P:L<K>:M>= MA>LRGMA>LBS>= >F;>= I >E>F>GMPBEE ?:BEMHK>G=>KMA>
    <HGM>GM I

       ,;A?FI;>JLI=?MMCHAGI>?F@ILCHFCH?=IHN?HNNB;N>I?MHNB;P?; +)

    8IFOUIFVTFSBHFOUJTUPEJTQMBZBVTFSBHFOUQBHFJOMJOFJOB CSPXTJOHDPOUFYU Q UIFVTFSBHFOUTIPVME DSFBUFB


    %PDVNFOU PCKFDU Q NBSLJUBTCFJOHBO )5.-EPDVNFOU Q BOEUIFOFJUIFSBTTPDJBUFUIBU %PDVNFOU Q XJUIBDVTUPN
    SFOEFSJOHUIBUJTOPUSFOEFSFEVTJOHUIFOPSNBM %PDVNFOU Q SFOEFSJOHSVMFT PSNVUBUFUIBU %PDVNFOU Q VOUJMJU
    SFQSFTFOUTUIFDPOUFOUUIFVTFSBHFOUXBOUTUPSFOEFS

    0ODFUIFQBHFIBTCFFOTFUVQ UIFVTFSBHFOUNVTUBDUBTJGJUIBE TUPQQFEQBSTJOH Q 

    6QPODSFBUJPOPGUIF %PDVNFOU Q PCKFDU UIFVTFSBHFOUNVTUSVOUIF BQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN Q XJUIOP


    NBOJGFTU QBTTJOHJOUIFOFXMZDSFBUFE %PDVNFOU Q 

    "GUFSDSFBUJOHUIF %PDVNFOU Q PCKFDU CVUQPUFOUJBMMZCFGPSFUIFQBHFIBTCFFODPNQMFUFMZTFUVQ UIFVTFSBHFOUNVTU


    VQEBUFUIFTFTTJPOIJTUPSZXJUIUIFOFXQBHF Q 

       *;PCA;NCHANI;@L;AG?HNC>?HNC]?L

    8IFOBVTFSBHFOUJTTVQQPTFEUPOBWJHBUFUPBGSBHNFOUJEFOUJИFS UIFOUIFVTFSBHFOUNVTU RVFVFBUBTL Q UPSVO


    UIFGPMMPXJOHTUFQT

     3FNPWFBMMUIFFOUSJFTJOUIF CSPXTJOHDPOUFYU Q T TFTTJPOIJTUPSZ Q BGUFSUIF DVSSFOUFOUSZ Q *GUIF


    DVSSFOUFOUSZ Q JTUIFMBTUFOUSZJOUIFTFTTJPOIJTUPSZ UIFOOPFOUSJFTBSFSFNPWFE

    *HM> 0ABL =H>LGMG><>LL:KBERA:O>MH:Z><M I MA>NL>K:@>GMLNL>KBGM>K?:<>

     3FNPWFBOZ UBTLT Q RVFVFECZUIF IJTUPSZUSBWFSTBMUBTLTPVSDF Q 

     "QQFOEBOFXFOUSZBUUIFFOEPGUIF )JTUPSZ Q PCKFDUSFQSFTFOUJOHUIFOFXSFTPVSDFBOEJUT %PDVNFOU Q


    PCKFDUBOESFMBUFETUBUF*UT 63- Q NVTUCFTFUUPUIFBEESFTTUPXIJDIUIFVTFSBHFOUXBT OBWJHBUJOH Q 
    5IFUJUMFNVTUCFMFGUVOTFU

     5SBWFSTFUIFIJTUPSZ Q UPUIFOFXFOUSZ5IJTXJMM TDSPMMUPUIFGSBHNFOUJEFOUJИFS Q HJWFOJOXIBUJTOPX


    UIFEPDVNFOUTDVSSFOUBEESFTT Q 

    *HM> %?MA>L<KHEEBG@?:BEL;><:NL>MA>K>E>O:GM% A:LGHMR>M;>>GI:KL>= MA>GMA>HKB@BG:E


    G:OB@:MBHG I :E@HKBMAFPBEEM:D><:K>H?MA>L<KHEEBG@BGLM>:= :LMA>E:LM?>PLM>ILH?BML NI=:M>
    MA>L>LLBHGABLMHKRPBMAMA>G>PI:@> I :E@HKBMAF

    8IFOUIFVTFSBHFOUJTSFRVJSFEUP M=LIFFNINB?@L;AG?HNC>?HNC]?L JUNVTUDIBOHFUIFTDSPMMJOHQPTJUJPOPGUIF


    EPDVNFOU PSQFSGPSNTPNFPUIFSBDUJPO TVDIUIBU UIFJOEJDBUFEQBSUPGUIFEPDVNFOU Q JTCSPVHIUUPUIFVTFST
    BUUFOUJPO*GUIFSFJTOPJOEJDBUFEQBSU UIFOUIFVTFSBHFOUNVTUOPUTDSPMMBOZXIFSF

    0B?CH>C=;N?>J;LNI@NB?>I=OG?HN JTUIFPOFUIBUUIFGSBHNFOUJEFOUJИFS JGBOZ JEFOUJИFT5IFTFNBOUJDTPGUIF


    GSBHNFOUJEFOUJИFSJOUFSNTPGNBQQJOHJUUPBTQFDJИD%0./PEFJTEFИOFECZUIFTQFDJИDBUJPOUIBUEFИOFTUIF .*.&
    UZQF Q VTFECZUIF %PDVNFOU Q GPSFYBNQMF UIFQSPDFTTJOHPGGSBHNFOUJEFOUJИFSTGPS 9.-.*.&UZQFT Q JTUIF
    SFTQPOTJCJMJUZPG3'$
     <3'$> Q

    'PS)5.-EPDVNFOUT BOE )5.-.*.&UZQFT Q


    UIFGPMMPXJOHQSPDFTTJOHNPEFMNVTUCFGPMMPXFEUPEFUFSNJOFXIBU
    UIFJOEJDBUFEQBSUPGUIFEPDVNFOU Q JT

     1BSTF Q UIF 63- Q BOEMFU 5A0683 CFUIF GSBHNFOU Q DPNQPOFOUPGUIF63-

     *G 5A0683 JTUIFFNQUZTUSJOH UIFO UIFJOEJDBUFEQBSUPGUIFEPDVNFOU Q JTUIFUPQPGUIFEPDVNFOUTUPQUIF


    BMHPSJUINIFSF

    
     -FU 342>3435A0683 CFUIFSFTVMUPGFYQBOEJOHBOZTFRVFODFTPGQFSDFOUFODPEFEPDUFUTJO 5A0683 UIBUBSF
    WBMJE65'TFRVFODFTJOUP6OJDPEFDIBSBDUFSTBTEFИOFECZ65'*GBOZQFSDFOUFODPEFEPDUFUTJOUIBU
    TUSJOHBSFOPUWBMJE65'TFRVFODFT UIFOTLJQUIJTTUFQBOEUIFOFYUPOF

     *GUIJTTUFQXBTOPUTLJQQFEBOEUIFSFJTBOFMFNFOUJOUIF%0.UIBUIBTBO*%FYBDUMZFRVBMUP 342>343
    5A0683 UIFOUIFИSTUTVDIFMFNFOUJOUSFFPSEFSJT UIFJOEJDBUFEQBSUPGUIFEPDVNFOU Q TUPQUIFBMHPSJUIN
    IFSF

     *GUIFSFJTBO B Q FMFNFOUJOUIF%0.UIBUIBTB OBNF Q BUUSJCVUFXIPTFWBMVFJTFYBDUMZFRVBMUP 5A0683


    =>C 342>3435A0683
    UIFOUIFИSTUTVDIFMFNFOUJOUSFFPSEFSJT UIFJOEJDBUFEQBSUPGUIFEPDVNFOU Q TUPQ
    UIFBMHPSJUINIFSF

     *G 5A0683 JTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOH UPQ UIFO UIFJOEJDBUFEQBSUPGUIFEPDVNFOU Q


    JTUIFUPQPGUIFEPDVNFOUTUPQUIFBMHPSJUINIFSF

     0UIFSXJTF UIFSFJTOP JOEJDBUFEQBSUPGUIFEPDVNFOU Q 

    'PSUIFQVSQPTFTPGUIFJOUFSBDUJPOPG)5.-XJUI4FMFDUPST UBSHFU QTFVEPDMBTT UIF M:K@>M>E>F>GM JT UIFJOEJDBUFE


    QBSUPGUIFEPDVNFOU Q JGUIBUJTBOFMFNFOUPUIFSXJTFUIFSFJTOP C0A64C4;4<4=C ?  <4&-&$5034> Q

       $CMNILSNL;P?LM;F

    8IFOBVTFSBHFOUJTSFRVJSFEUP NL;P?LM?NB?BCMNILS UPB B?428P434=CAH PQUJPOBMMZXJUI SFQMBDFNFOUFOBCMFE Q


    UIFVTFSBHFOUNVTUBDUBTGPMMPXT

     *GUIFSFJTOPMPOHFSB %PDVNFOU Q PCKFDUGPSUIFFOUSZJORVFTUJPO UIFVTFSBHFOUNVTU OBWJHBUF Q UIF


    CSPXTJOHDPOUFYUUPUIFMPDBUJPOGPSUIBUFOUSZUPQFSGPSNBO FOUSZVQEBUF Q PGUIBUFOUSZ BOEBCPSUUIFTF
    TUFQT5IFOBWJHBUF Q BMHPSJUINSFJOWPLFTUIJTUSBWFSTFBMHPSJUINUPDPNQMFUFUIFUSBWFSTBM BUXIJDI
    QPJOUUIFSF 8B B %PDVNFOU Q PCKFDUBOETPUIJTTUFQHFUTTLJQQFE5IFOBWJHBUJPONVTUCFEPOFVTJOHUIF
    TBNF TPVSDFCSPXTJOHDPOUFYU Q BTXBTVTFEUIFИSTUUJNFUIJTFOUSZXBTDSFBUFE 5IJTDBOOFWFSIBQQFO
    XJUI SFQMBDFNFOUFOBCMFE Q 

     *GUIF DVSSFOUFOUSZ Q TUJUMFXBTOPUTFUCZUIF QVTI4UBUF


    Q PS SFQMBDF4UBUF
    Q NFUIPET UIFOTFU
    JUTUJUMFUPUIFWBMVFSFUVSOFECZUIF EPDVNFOUUJUMF Q *%-BUUSJCVUF

     *GBQQSPQSJBUF VQEBUFUIF DVSSFOUFOUSZ Q JOUIF CSPXTJOHDPOUFYU Q T %PDVNFOU Q PCKFDUT )JTUPSZ Q
    PCKFDUUPSFЙFDUBOZTUBUFUIBUUIFVTFSBHFOUXJTIFTUPQFSTJTU5IFFOUSZJTUIFOTBJEUPCF ;H?HNLSQCNB
    J?LMCMN?>OM?LMN;N?

    'PSFYBNQMF TPNFVTFSBHFOUTNJHIUXBOUUPQFSTJTUUIFTDSPMMQPTJUJPO PSUIFWBMVFTPGGPSN


    DPOUSPMT

     *GUIF B?428P434=CAH IBTBEJЗFSFOU %PDVNFOU Q PCKFDUUIBOUIF DVSSFOUFOUSZ Q UIFOUIFVTFSBHFOUNVTU


    SVOUIFGPMMPXJOHTVCTUFQT

     *GUIFCSPXTJOHDPOUFYUJTB UPQMFWFMCSPXTJOHDPOUFYU Q CVUOPUBO BVYJMJBSZCSPXTJOH


    DPOUFYU Q BOEUIF PSJHJO Q PGUIF %PDVNFOU Q PGUIF B?428P434=CAH JTOPUUIF TBNF Q BTUIF
    PSJHJO Q PGUIF %PDVNFOU Q PGUIF DVSSFOUFOUSZ Q UIFOUIFGPMMPXJOHTVCTVCTUFQTNVTUCFSVO
     5IFDVSSFOU CSPXTJOHDPOUFYUOBNF Q NVTUCFTUPSFEXJUIBMMUIFFOUSJFTJOUIFIJTUPSZ
    UIBUBSFBTTPDJBUFEXJUI %PDVNFOU Q PCKFDUTXJUIUIF TBNFPSJHJO Q BTUIF BDUJWF
    EPDVNFOU Q 0=3 UIBUBSFDPOUJHVPVTXJUIUIF DVSSFOUFOUSZ Q 
     5IFCSPXTJOHDPOUFYUT CSPXTJOHDPOUFYUOBNF Q NVTUCFVOTFU

     5IFVTFSBHFOUNVTUNBLFUIF B?428P434=CAHT %PDVNFOU Q PCKFDUUIF BDUJWFEPDVNFOU Q PGUIF


    CSPXTJOHDPOUFYU Q 

     *GUIF B?428P434=CAH IBTB CSPXTJOHDPOUFYUOBNF Q TUPSFEXJUIJU UIFOUIFGPMMPXJOHTVCTVC


    TUFQTNVTUCFSVO
     5IFCSPXTJOHDPOUFYUT CSPXTJOHDPOUFYUOBNF Q NVTUCFTFUUPUIFOBNFTUPSFEXJUI
    UIFTQFDJИFEFOUSZ
     "OZ CSPXTJOHDPOUFYUOBNF Q TUPSFEXJUIUIFFOUSJFTJOUIFIJTUPSZUIBUBSFBTTPDJBUFE
    XJUI %PDVNFOU Q PCKFDUTXJUIUIF TBNFPSJHJO Q BTUIFOFX BDUJWFEPDVNFOU Q BOE
    UIBUBSFDPOUJHVPVTXJUIUIFTQFDJИFEFOUSZ NVTUCFDMFBSFE

     *GUIF B?428P434=CAHT %PDVNFOU Q IBTBOZ JOQVU Q FMFNFOUTXIPTF SFTVMUJOHBVUPDPNQMFUJPO


    TUBUF Q JT >O JOWPLFUIF SFTFUBMHPSJUIN Q PGFBDIPGUIPTFFMFNFOUT

    
     *GUIF DVSSFOUEPDVNFOUSFBEJOFTT Q PGUIF B?428P434=CAHT %PDVNFOU Q JTDPNQMFUF RVFVFB
    UBTL Q UPИSFB QBHFTIPX Q FWFOUBUUIF 8JOEPX Q PCKFDUPGUIBU %PDVNFOU Q CVUXJUIJUT
    UBSHFU Q TFUUPUIF %PDVNFOU Q PCKFDU BOEUIF DVSSFOU5BSHFU TFUUPUIF 8JOEPX Q PCKFDU

    VTJOHUIF 1BHF5SBOTJUJPO&WFOU Q JOUFSGBDF XJUIUIF QFSTJTUFE Q BUUSJCVUFTFUUPUSVF5IJT
    FWFOUNVTUOPUCVCCMF NVTUOPUCFDBODFMBCMF BOEIBTOPEFGBVMUBDUJPO

     4FU UIFEPDVNFOUTDVSSFOUBEESFTT Q UPUIF63-PGUIF B?428P434=CAH

     *GUIF B?428P434=CAH IBTB63-UIBUEJЗFSTGSPNUIF DVSSFOUFOUSZ Q TPOMZCZJUTGSBHNFOUJEFOUJИFS BOE


    UIFUXPTIBSFUIFTBNF %PDVNFOU Q PCKFDU UIFOMFU 70B7270=643 CFUSVF BOEMFU >;3+(" CFUIF63-PGUIF
    DVSSFOUFOUSZ Q BOE =4F+(" CFUIF63-PGUIF B?428P434=CAH0UIFSXJTF MFU 70B7270=643 CFGBMTF

     *GUIFUSBWFSTBMXBTJOJUJBUFEXJUI L?JF;=?G?HN?H;<F?> SFNPWFUIFFOUSZJNNFEJBUFMZCFGPSFUIF


    B?428P434=CAH JOUIFTFTTJPOIJTUPSZ

     *GUIF B?428P434=CAH JTOPU BOFOUSZXJUIQFSTJTUFEVTFSTUBUF Q CVUJUT63-IBTBGSBHNFOUJEFOUJИFS TDSPMM


    UPUIFGSBHNFOUJEFOUJИFS Q 

     *GUIFFOUSZJT BOFOUSZXJUIQFSTJTUFEVTFSTUBUF Q UIFVTFSBHFOUNBZVQEBUFBTQFDUTPGUIFEPDVNFOU


    BOEJUTSFOEFSJOH GPSJOTUBODFUIFTDSPMMQPTJUJPOPSWBMVFTPGGPSNИFMET UIBUJUIBEQSFWJPVTMZSFDPSEFE

     *GUIF B?428P434=CAH JTBTUBUFPCKFDUPSUIFИSTUFOUSZGPSB %PDVNFOU Q UIFVTFSBHFOUNVTUSVOUIF


    GPMMPXJOHTVCTUFQT

     *GUIFFOUSZJTB TUBUFPCKFDU Q FOUSZ MFU BC0C4 CFB TUSVDUVSFEDMPOF Q PGUIBUTUBUFPCKFDU
    0UIFSXJTF MFU BC0C4 CFOVMM

     3VOUIFBQQSPQSJBUFTUFQTBDDPSEJOHUPUIFDPOEJUJPOTEFTDSJCFE
    J
    X %@NB? =OLL?HN>I=OG?HNL?;>CH?MM CMM?NNINB?MNLCHA=IGJF?N?
    2VFVFBUBTL Q UPИSFB QPQTUBUF Q FWFOUBUUIF 8JOEPX Q PCKFDUPGUIF %PDVNFOU Q
    VTJOHUIF 1PQ4UBUF&WFOU Q JOUFSGBDF XJUIUIF TUBUF Q BUUSJCVUFTFUUPUIFWBMVFPG
    BC0C45IJTFWFOUNVTUCVCCMFCVUOPUCFDBODFMBCMFBOEIBTOPEFGBVMUBDUJPO

    X +NB?LQCM?
    -FUUIF %PDVNFOU Q T J?H>CHAMN;N?I<D?=N CF BC0C4 *GUIFSFXBTBMSFBEZB QFOEJOH
    TUBUFPCKFDU Q UIFQSFWJPVTPOFJTEJTDBSEFE

    *HM> 0A>>O>GMPBEEMA>G;>[K>=CNLM:?M>KMA> EH:= >O>GM

     *G 70B7270=643 JTUSVF UIFO RVFVFBUBTL Q UPИSFB IBTIDIBOHF Q FWFOUBUUIF CSPXTJOHDPOUFYU Q T
    8JOEPX Q PCKFDU VTJOHUIF )BTI$IBOHF&WFOU Q JOUFSGBDF XJUIUIF PME63- Q BUUSJCVUFTFUUP >;3+(" BOE
    UIF OFX63- Q BUUSJCVUFTFUUP =4F+("5IJTFWFOUNVTUCVCCMFCVUOPUCFDBODFMBCMFBOEIBTOPEFGBVMU
    BDUJPO

     5IF DVSSFOUFOUSZ Q JTOPXUIF B?428P434=CAH

    5IF QFOEJOHTUBUFPCKFDU Q NVTUCFJOJUJBMMZOVMM

    5IF UBTLTPVSDF Q GPSUIFUBTLTNFOUJPOFEBCPWFJTUIF %0.NBOJQVMBUJPOUBTLTPVSDF Q 

        !P?HN>?]HCNCIHM

    5IF KJKNO<O@ FWFOUJTИSFEXIFOOBWJHBUJOHUPB TFTTJPOIJTUPSZFOUSZ Q UIBUSFQSFTFOUTBTUBUFPCKFDU

    JOUFSGBDF .JK1O<O@#Q@IO  &WFOU \


    SFBEPOMZBUUSJCVUFBOZ TUBUF
    WPJE JOJU1PQ4UBUF&WFOU JO%0.4USJOHUZQF"SH JOCPPMFBODBO#VCCMF"SH JOCPPMFBO
    DBODFMBCMF"SH JOBOZTUBUF"SH
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G

    
    >O>GM NO<O@ K
    3FUVSOTBDPQZPGUIFJOGPSNBUJPOUIBUXBTQSPWJEFEUP QVTI4UBUF
    Q PS SFQMBDF4UBUF
    Q 

    5IF DIDO.JK1O<O@#Q@IO NFUIPENVTUJOJUJBMJ[FUIFFWFOUJOBNBOOFSBOBMPHPVTUPUIFTJNJMBSMZOBNFENFUIPEJO


    UIF%0.&WFOUTJOUFSGBDFT <%0.&7&/54> Q

    5IF NO<O@ BUUSJCVUFSFQSFTFOUTUIFDPOUFYUJOGPSNBUJPOGPSUIFFWFOU PSOVMM JGUIFTUBUFSFQSFTFOUFEJTUIFJOJUJBMTUBUF


    PGUIF %PDVNFOU Q 

    5IF C<NC>C<IB@ FWFOUJTИSFEXIFOOBWJHBUJOHUPB TFTTJPOIJTUPSZFOUSZ Q XIPTF 63- Q EJЗFSTGSPNUIBUPGUIF


    QSFWJPVTPOFPOMZJOUIFGSBHNFOUJEFOUJИFS

    JOUFSGBDF &<NC!C<IB@#Q@IO  &WFOU \


    SFBEPOMZBUUSJCVUFBOZ PME63-
    SFBEPOMZBUUSJCVUFBOZ OFX63-
    WPJE JOJU)BTI$IBOHF&WFOU JO%0.4USJOHUZQF"SH JOCPPMFBODBO#VCCMF"SH JOCPPMFBO
    DBODFMBCMF"SH JO%0.4USJOHPME63-"SH JO%0.4USJOHOFX63-"SH
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    >O>GM JG?30* K
    3FUVSOTUIF 63- Q PGUIF TFTTJPOIJTUPSZFOUSZ Q UIBUXBTQSFWJPVTMZDVSSFOU

    >O>GM I@R30* K


    3FUVSOTUIF 63- Q PGUIF TFTTJPOIJTUPSZFOUSZ Q UIBUJTOPXDVSSFOU

    5IF DIDO&<NC!C<IB@#Q@IO NFUIPENVTUJOJUJBMJ[FUIFFWFOUJOBNBOOFSBOBMPHPVTUPUIFTJNJMBSMZOBNFENFUIPE


    JOUIF%0.&WFOUTJOUFSGBDFT <%0.&7&/54> Q

    5IF JG?30* BUUSJCVUFSFQSFTFOUTDPOUFYUJOGPSNBUJPOGPSUIFFWFOU TQFDJИDBMMZUIF63-PGUIF TFTTJPOIJTUPSZFOUSZ Q


    UIBUXBTUSBWFSTFEGSPN

    5IF I@R30* BUUSJCVUFSFQSFTFOUTDPOUFYUJOGPSNBUJPOGPSUIFFWFOU TQFDJИDBMMZUIF63-PGUIF TFTTJPOIJTUPSZFOUSZ Q


    UIBUXBTUSBWFSTFEUP

    5IF K<B@NCJR FWFOUJTИSFEXIFOUSBWFSTJOH C> B TFTTJPOIJTUPSZFOUSZ Q 

    5IF K<B@CD?@ FWFOUJTИSFEXIFOUSBWFSTJOH 5A>< B TFTTJPOIJTUPSZFOUSZ Q 

    JOUFSGBDF .<B@2M<INDODJI#Q@IO  &WFOU \


    SFBEPOMZBUUSJCVUFBOZ QFSTJTUFE
    WPJE JOJU1BHF5SBOTJUJPO&WFOU JO%0.4USJOHUZQF"SH JOCPPMFBODBO#VCCMF"SH JOCPPMFBO
    DBODFMBCMF"SH JOBOZQFSTJTUFE"SH
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >O>GM K@MNDNO@?
    3FUVSOTGBMTFJGUIFQBHFJTOFXMZCFJOHMPBEFE BOEUIF MPBE FWFOUXJMMИSF
    0UIFSXJTF SFUVSOTUSVF

    5IF DIDO.<B@2M<INDODJI#Q@IO NFUIPENVTUJOJUJBMJ[FUIFFWFOUJOBNBOOFSBOBMPHPVTUPUIFTJNJMBSMZOBNFE


    NFUIPEJOUIF%0.&WFOUTJOUFSGBDFT <%0.&7&/54> Q

    5IF K@MNDNO@? BUUSJCVUFSFQSFTFOUTUIFDPOUFYUJOGPSNBUJPOGPSUIFFWFOU

    
       1HFI;>CHA>I=OG?HNM

    " %PDVNFOU Q IBTB B0;E06401;4 TUBUF XIJDIJTJOJUJBMMZUSVF

    8IFOBVTFSBHFOUJTUP JLIGJNNIOHFI;>;>I=OG?HN JUNVTUSVOUIFGPMMPXJOHTUFQT

     -FU 4E4=C CFBOFX #FGPSF6OMPBE&WFOU Q FWFOUPCKFDUXJUIUIFOBNF CFGPSFVOMPBE XIJDIEPFTOPU


    CVCCMFCVUJTDBODFMBCMF

     8B?0C27%JTQBUDI 4E4=C BUUIF %PDVNFOU Q T 8JOEPX Q PCKFDU

     3FMFBTFUIF TUPSBHFNVUFY Q 

     *GBOZFWFOUMJTUFOFSTXFSFUSJHHFSFECZUIFFBSMJFS 38B?0C27 TUFQ UIFOTFUUIF %PDVNFOU Q T B0;E06401;4


    TUBUFUPGBMTF

     *GUIF SFUVSO7BMVF Q BUUSJCVUFPGUIF 4E4=C PCKFDUJTOPUUIFFNQUZTUSJOH PSJGUIFFWFOUXBTDBODFMFE


    UIFOUIFVTFSBHFOUTIPVMEBTLUIFVTFSUPDPOИSNUIBUUIFZXJTIUPVOMPBEUIFEPDVNFOU

    5IFQSPNQUTIPXOCZUIFVTFSBHFOUNBZJODMVEFUIFTUSJOHPGUIF SFUVSO7BMVF Q BUUSJCVUF PSTPNF


    MFBEJOHTVCTFUUIFSFPG "VTFSBHFOUNBZXBOUUPUSVODBUFUIFTUSJOHUPDIBSBDUFSTGPSEJTQMBZ GPS
    JOTUBODF

    5IFVTFSBHFOUNVTU QBVTF Q XIJMFXBJUJOHGPSUIFVTFSTSFTQPOTF

    *GUIFVTFSEJEOPUDPOИSNUIFQBHFOBWJHBUJPO UIFOUIFVTFSBHFOU L?@OM?>NI;FFIQNB?>I=OG?HNNI<?


    OHFI;>?>

     *GUIJTBMHPSJUINXBTJOWPLFECZBOPUIFSJOTUBODFPGUIFQSPNQUUPVOMPBEBEPDVNFOUBMHPSJUIN JF
    UISPVHIUIFTUFQTCFMPXUIBUJOWPLFUIJTBMHPSJUINGPSBMMEFTDFOEBOUCSPXTJOHDPOUFYUT
    UIFOBCPSUUIFTF
    TUFQTIFSF

     -FU 34B24=30=CB CFUIF MJTUPGUIFEFTDFOEBOUCSPXTJOHDPOUFYUT Q PGUIF %PDVNFOU Q 

     *G 34B24=30=CB JTOPUBOFNQUZMJTU UIFOGPSFBDI CSPXTJOHDPOUFYU Q 1 JO 34B24=30=CB SVOUIFGPMMPXJOH


    TVCTUFQT

     1SPNQUUPVOMPBE Q UIF BDUJWFEPDVNFOU Q PGUIF CSPXTJOHDPOUFYU Q 1*GUIFVTFS SFGVTFEUP
    BMMPXUIFEPDVNFOUUPCFVOMPBEFE Q UIFOUIFVTFSJNQMJDJUMZBMTP SFGVTFEUPBMMPX C78B EPDVNFOU
    UPCFVOMPBEFE Q BCPSUUIFTFTUFQT

     *G B0;E06401;4 TUBUFPGUIF BDUJWFEPDVNFOU Q PGUIF CSPXTJOHDPOUFYU Q 1 JTGBMTF UIFOTFUUIF


    B0;E06401;4 TUBUFPG C78B EPDVNFOUUPGBMTFBMTP

    8IFOBVTFSBHFOUJTUP OHFI;>;>I=OG?HN JUNVTUSVOUIFGPMMPXJOHTUFQT5IFTFTUFQTBSFQBTTFEBOBSHVNFOU


    A42H2;4 XIJDIJTFJUIFSUSVFPSGBMTF JOEJDBUJOHXIFUIFSUIF %PDVNFOU Q PCKFDUJTHPJOHUPCFSFVTFE 5IJTJTTFUCZ
    UIF EPDVNFOUPQFO
    Q NFUIPE

     'JSFB QBHFIJEF Q FWFOUBUUIF 8JOEPX Q PCKFDUPGUIF %PDVNFOU Q CVUXJUIJUT UBSHFU Q TFUUPUIF
    %PDVNFOU Q PCKFDU BOEUIF DVSSFOU5BSHFU TFUUPUIF 8JOEPX Q PCKFDU
    VTJOHUIF
    1BHF5SBOTJUJPO&WFOU Q JOUFSGBDF XJUIUIF QFSTJTUFE Q BUUSJCVUFTFUUPUSVF5IJTFWFOUNVTUOPUCVCCMF
    NVTUOPUCFDBODFMBCMF BOEIBTOPEFGBVMUBDUJPO

     +=;>034E4=C 'JSFBTJNQMFFWFOU Q OBNFE VOMPBE BUUIF %PDVNFOU Q T 8JOEPX Q PCKFDU

     3FMFBTFUIF TUPSBHFNVUFY Q 

     *GBOZFWFOUMJTUFOFSTXFSFUSJHHFSFECZUIFFBSMJFS D=;>034E4=C TUFQ UIFOTFUUIF %PDVNFOU Q PCKFDUT


    B0;E06401;4 TUBUFUPGBMTF

     3VOBOZ VOMPBEJOHEPDVNFOUDMFBOVQTUFQT Q GPS %PDVNFOU Q UIBUBSFEFИOFECZUIJTTQFDJИDBUJPOPSBOZ


    PUIFSSFMFWBOUTQFDJИDBUJPOT

     *GUIJTBMHPSJUINXBTJOWPLFECZBOPUIFSJOTUBODFPGUIFVOMPBEBEPDVNFOUBMHPSJUIN JFUISPVHIUIF
    TUFQTCFMPXUIBUJOWPLFUIJTBMHPSJUINGPSBMMEFTDFOEBOUCSPXTJOHDPOUFYUT
    UIFOBCPSUUIFTFTUFQTIFSF

     -FU 34B24=30=CB CFUIF MJTUPGUIFEFTDFOEBOUCSPXTJOHDPOUFYUT Q PGUIF %PDVNFOU Q 

     *G 34B24=30=CB JTOPUBOFNQUZMJTU UIFOGPSFBDI CSPXTJOHDPOUFYU Q 1 JO 34B24=30=CB SVOUIFGPMMPXJOH


    TVCTUFQT

    
     6OMPBE Q UIF BDUJWFEPDVNFOU Q PGUIF CSPXTJOHDPOUFYU Q 1 XJUIUIF A42H2;4 QBSBNFUFSTFUUP
    GBMTF

     *G B0;E06401;4 TUBUFPGUIF BDUJWFEPDVNFOU Q PGUIF CSPXTJOHDPOUFYU Q 1 JTGBMTF UIFOTFUUIF


    B0;E06401;4 TUBUFPG C78B EPDVNFOUUPGBMTFBMTP

     *G B0;E06401;4 BOE A42H2;4 BSFCPUIGBMTF UIFOUIF %PDVNFOU Q T CSPXTJOHDPOUFYU Q NVTU EJTDBSEUIF
    %PDVNFOU Q 

    5IJTTQFDJИDBUJPOEFИOFTUIFGPMMPXJOH OHFI;>CHA>I=OG?HN=F?;HOJMN?JM0UIFSTQFDJИDBUJPOTDBOEFИOFNPSF

     *GUIFSFBSFBOZPVUTUBOEJOHUSBOTBDUJPOTUIBUIBWFDBMMCBDLTUIBUJOWPMWF TDSJQUT Q XIPTF HMPCBMPCKFDU Q


    JTUIF %PDVNFOU Q T 8JOEPX Q PCKFDU SPMMUIFNCBDL XJUIPVUJOWPLJOHBOZPGUIFDBMMCBDLT
    BOETFUUIF
    %PDVNFOU Q T B0;E06401;4 TUBUFUPGBMTF <8&#42-> Q

     $MPTFUIF8FC4PDLFUDPOOFDUJPO PGBOZ 8FC4PDLFU PCKFDUTUIBUXFSFDSFBUFECZUIF 8FC4PDLFU

    DPOTUSVDUPSWJTJCMFPOUIF %PDVNFOU Q T 8JOEPX Q PCKFDU*GUIJTBЗFDUFEBOZ 8FC4PDLFU PCKFDUT UIFTFU


    %PDVNFOU Q T B0;E06401;4 TUBUFUPGBMTF <8&#40$,&5> Q

     *GUIF %PDVNFOU Q T B0;E06401;4 TUBUFJTGBMTF FNQUZUIF %PDVNFOU Q T 8JOEPX Q T MJTUPGBDUJWF
    UJNFPVUT Q BOEJUT MJTUPGBDUJWFJOUFSWBMT Q 

        !P?HN>?]HCNCIH

    JOUFSGBDF @AJM@3IGJ<?#Q@IO  &WFOU \


    BUUSJCVUF%0.4USJOH SFUVSO7BMVF
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    >O>GM M@OPMI4<GP@ K 7 O:EN> 8
    3FUVSOTUIFDVSSFOUSFUVSOWBMVFPGUIFFWFOU UIFNFTTBHFUPTIPXUIFVTFS
    
    $BOCFTFU UPVQEBUFUIFNFTTBHF

    *HM> 0A>K>:K>GH !>?HK>3GEH:=$O>GM I


    LI><B[<BGBMB:EBS:MBHGF>MAH=L

    5IF M@OPMI4<GP@ BUUSJCVUFSFQSFTFOUTUIFNFTTBHFUPTIPXUIFVTFS8IFOUIFFWFOUJTDSFBUFE UIFBUUSJCVUFNVTUCF


    TFUUPUIFFNQUZTUSJOH0OHFUUJOH JUNVTUSFUVSOUIFMBTUWBMVFJUXBTTFUUP0OTFUUJOH UIFBUUSJCVUFNVTUCFTFUUP
    UIFOFXWBMVF

       <ILNCHA;>I=OG?HNFI;>

    *GUIFVTFSDBODFMTBOZJOTUBODFPGUIF GFUDIJOHBMHPSJUIN Q JOUIFDPOUFYUPGB %PDVNFOU Q JOB CSPXTJOHDPOUFYU Q


    UIFO JGUIBU %PDVNFOU Q JTBO BDUJWFEPDVNFOU Q UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q
    OBNFE BCPSU BUUIBU %PDVNFOU Q T 8JOEPX Q PCKFDU

      +`CH?3?<;JJFC=;NCIHM

       %HNLI>O=NCIH

    *78BB42C8>=8B=>==>A<0C8E4

    *OPSEFSUPFOBCMFVTFSTUPDPOUJOVFJOUFSBDUJOHXJUI8FCBQQMJDBUJPOTBOEEPDVNFOUTFWFOXIFOUIFJSOFUXPSL
    DPOOFDUJPOJTVOBWBJMBCMFǡGPSJOTUBODF CFDBVTFUIFZBSFUSBWFMJOHPVUTJEFPGUIFJS*41TDPWFSBHFBSFBǡBVUIPST
    DBOQSPWJEFBNBOJGFTUXIJDIMJTUTUIFИMFTUIBUBSFOFFEFEGPSUIF8FCBQQMJDBUJPOUPXPSLPЛJOFBOEXIJDIDBVTFT
    UIFVTFSTCSPXTFSUPLFFQBDPQZPGUIFИMFTGPSVTFPЛJOF

    5PJMMVTUSBUFUIJT DPOTJEFSBTJNQMFDMPDLBQQMFUDPOTJTUJOHPGBO)5.-QBHFDMPDLIUNM B$44TUZMFTIFFU


    DMPDLDTT BOEB+BWB4DSJQUTDSJQUDMPDLKT

    #FGPSFBEEJOHUIFNBOJGFTU UIFTFUISFFИMFTNJHIUMPPLMJLFUIJT

    
    DMPDLIUNM
    %0$5:1&)5.-
    IUNM
    IFBE
    UJUMF$MPDLUJUMF
    TDSJQUTSDDMPDLKTTDSJQU
    MJOLSFMTUZMFTIFFUISFGDMPDLDTT
    IFBE
    CPEZ
    Q5IFUJNFJTPVUQVUJEDMPDLPVUQVUQ
    CPEZ
    IUNM
     DMPDLDTT 
    PVUQVU\GPOUFNTBOTTFSJG^
     DMPDLKT 
    TFU5JNFPVU GVODUJPO
    \
    EPDVNFOUHFU&MFNFOU#Z*E DMPDL
    WBMVFOFX%BUF
    
    ^ 
    

    *GUIFVTFSUSJFTUPPQFOUIFDMPDLIUNMQBHFXIJMFPЛJOF UIPVHI UIFVTFSBHFOU VOMFTTJUIBQQFOTUPIBWFJUTUJMM


    JOUIFMPDBMDBDIF
    XJMMGBJMXJUIBOFSSPS

    5IFBVUIPSDBOJOTUFBEQSPWJEFBNBOJGFTUPGUIFUISFFИMFT

    $"$)&."/*'&45
    DMPDLIUNM
    DMPDLDTT
    DMPDLKT

    8JUIBTNBMMDIBOHFUPUIF)5.-ИMF UIFNBOJGFTU TFSWFEBT UFYUDBDIFNBOJGFTU Q


    JTMJOLFEUPUIFBQQMJDBUJPO

    DMPDLIUNM
    %0$5:1&)5.-
    IUNMNBOJGFTUDMPDLNBOJGFTU
    IFBE
    UJUMF$MPDLUJUMF
    TDSJQUTSDDMPDLKTTDSJQU
    MJOLSFMTUZMFTIFFUISFGDMPDLDTT
    IFBE
    CPEZ
    Q5IFUJNFJTPVUQVUJEDMPDLPVUQVUQ
    CPEZ
    IUNM

    /PX JGUIFVTFSHPFTUPUIFQBHF UIFCSPXTFSXJMMDBDIFUIFИMFTBOENBLFUIFNBWBJMBCMFFWFOXIFOUIFVTFSJT


    PЛJOF

    *HM> NMAHKL:K>>G<HNK:@>=MHBG<EN=>MA>F:BGI:@>BGMA>F:GB?>LM:ELH ;NMBGIK:<MB<>MA>


    I:@>MA:MK>?>K>G<>=MA>F:GB?>LMBL:NMHF:MB<:EER<:<A>=>O>GB?BMBLGM>QIEB<BMERF>GMBHG>=

    *HM> $00,<:<A>A>:=>KL:G=K>LMKB<MBHGLHG<:<ABG@I:@>LL>KO>=HO>K0(/>G<KRIM>= NLBG@


    AMMIL:K>HO>KKB==>G;RF:GB?>LML 0ANL I:@>LPBEEGHM>QIBK>?KHF:G:IIEB<:MBHG<:<A>;>?HK>
    MA>NL>K:@>GMA:LNI=:M>=BM :G=>O>G:IIEB<:MBHGLL>KO>=HO>K0(/<:G;>F:=>MHPHKDH^BG>

        !P?HNMOGG;LS

    *78BB42C8>=8B=>==>A<0C8E4

    8IFOUIFVTFSWJTJUTBQBHFUIBUEFDMBSFTBNBOJGFTU UIFCSPXTFSXJMMUSZUPVQEBUFUIFDBDIF*UEPFTUIJTCZGFUDIJOH
    BDPQZPGUIFNBOJGFTUBOE JGUIFNBOJGFTUIBTDIBOHFETJODFUIFVTFSBHFOUMBTUTBXJU SFEPXOMPBEJOHBMMUIF
    SFTPVSDFTJUNFOUJPOTBOEDBDIJOHUIFNBOFX

    "TUIJTJTHPJOHPO BOVNCFSPGFWFOUTHFUИSFEPOUIF "QQMJDBUJPO$BDIF Q PCKFDUUPLFFQUIFTDSJQUVQEBUFEBTUP


    UIFTUBUFPGUIFDBDIFVQEBUF TPUIBUUIFVTFSDBOCFOPUJИFEBQQSPQSJBUFMZ5IFFWFOUTBSFBTGPMMPXT

    
    !P?HN %HN?L@;=? CMJ;N=B?>QB?H *?RN?P?HNM
    H;G?

    >C@>FDIB &WFOU Q 5IFVTFSBHFOUJTDIFDLJOHGPSBOVQEBUF PSBUUFNQUJOHUPEPXOMPBEUIF OPVQEBUF Q


    NBOJGFTUGPSUIFИSTUUJNF 0BCMCM;FQ;SMNB?]LMN?P?HNCHNB?M?KO?H=? EPXOMPBEJOH Q
    PCTPMFUF Q FSSPS Q
    IJPK?<O@ &WFOU Q 5IFNBOJGFTUIBEOUDIBOHFE -BTUFWFOUJOTFRVFODF
    ?JRIGJ<?DIB &WFOU Q 5IFVTFSBHFOUIBTGPVOEBOVQEBUFBOEJTGFUDIJOHJU PSJTEPXOMPBEJOHUIF QSPHSFTT Q FSSPS Q
    SFTPVSDFTMJTUFECZUIFNBOJGFTUGPSUIFИSTUUJNF DBDIFE Q VQEBUFSFBEZ Q
    KMJBM@NN 1SPHSFTT&WFOU 5IFVTFSBHFOUJTEPXOMPBEJOHSFTPVSDFTMJTUFECZUIFNBOJGFTU QSPHSFTT Q FSSPS Q
    DBDIFE Q VQEBUFSFBEZ Q
    ><>C@? &WFOU Q 5IFSFTPVSDFTMJTUFEJOUIFNBOJGFTUIBWFCFFOEPXOMPBEFE BOEUIF -BTUFWFOUJOTFRVFODF
    BQQMJDBUJPOJTOPXDBDIFE
    PK?<O@M@<?T &WFOU Q 5IFSFTPVSDFTMJTUFEJOUIFNBOJGFTUIBWFCFFOOFXMZSFEPXOMPBEFE BOEUIF -BTUFWFOUJOTFRVFODF
    TDSJQUDBOVTF TXBQ$BDIF
    Q UPTXJUDIUPUIFOFXDBDIF
    J=NJG@O@ &WFOU Q 5IFNBOJGFTUXBTGPVOEUPIBWFCFDPNFBPSQBHF TPUIFBQQMJDBUJPO -BTUFWFOUJOTFRVFODF
    DBDIFJTCFJOHEFMFUFE
    @MMJM &WFOU Q 5IFNBOJGFTUXBTBPSQBHF TPUIFBUUFNQUUPDBDIFUIFBQQMJDBUJPO -BTUFWFOUJOTFRVFODF
    IBTCFFOBCPSUFE
    5IFNBOJGFTUIBEOUDIBOHFE CVUUIFQBHFSFGFSFODJOHUIFNBOJGFTUGBJMFEUP
    EPXOMPBEQSPQFSMZ
    "GBUBMFSSPSPDDVSSFEXIJMFGFUDIJOHUIFSFTPVSDFTMJTUFEJOUIFNBOJGFTU
    5IFNBOJGFTUDIBOHFEXIJMFUIFVQEBUFXBTCFJOHSVO 5IFVTFSBHFOUXJMMUSZ
    GFUDIJOHUIFИMFTBHBJO
    NPNFOUBSJMZ

       JJFC=;NCIH=;=B?M

    "O ;JJFC=;NCIH=;=B? JTBTFUPGDBDIFESFTPVSDFTDPOTJTUJOHPG

    Ǭ 0OFPSNPSFSFTPVSDFT JODMVEJOHUIFJSPVUPGCBOENFUBEBUB TVDIBT)551IFBEFST JGBOZ


    JEFOUJИFECZ
    63-T FBDIGBMMJOHJOUPPOF PSNPSF
    PGUIFGPMMPXJOHDBUFHPSJFT

    ):LM>K>GMKB>L
    %PDVNFOUTUIBUXFSFBEEFEUPUIFDBDIFCFDBVTFB CSPXTJOHDPOUFYU Q XBT OBWJHBUFE Q UPUIBU
    EPDVNFOUBOEUIFEPDVNFOUJOEJDBUFEUIBUUIJTXBTJUTDBDIF VTJOHUIF NBOJGFTU Q BUUSJCVUF

    0A>F:GB?>LM
    5IFSFTPVSDFDPSSFTQPOEJOHUPUIF63-UIBUXBTHJWFOJOBNBTUFSFOUSZT IUNM Q FMFNFOUT
    NBOJGFTU Q BUUSJCVUF5IFNBOJGFTUJTGFUDIFEBOEQSPDFTTFEEVSJOHUIF BQQMJDBUJPODBDIFEPXOMPBE
    QSPDFTT Q "MMUIF NBTUFSFOUSJFT Q IBWFUIF TBNFPSJHJO Q BTUIFNBOJGFTU

    !QIEB<BM>GMKB>L
    3FTPVSDFTUIBUXFSFMJTUFEJOUIFDBDIFT NBOJGFTU Q JOBO FYQMJDJUTFDUJPO Q &YQMJDJUFOUSJFTDBOBMTP
    CFNBSLFEBT @IL?CAH XIJDINFBOTUIBUUIFZIBWFB NBOJGFTU Q BUUSJCVUFCVUUIBUJUEPFTOUQPJOUBU
    UIJTDBDIFT NBOJGFTU Q 

    ":EE;:<D>GMKB>L
    3FTPVSDFTUIBUXFSFMJTUFEJOUIFDBDIFT NBOJGFTU Q JOB GBMMCBDLTFDUJPO Q 

    *HM> 1.(BGMA>EBLM<:G;>\:@@>=PBMAFNEMBIE>=BZ>K>GMMRI>L :G=MANL:G>GMKR<:G


    >G=NI;>BG@<:M>@HKBS>=:LFNEMBIE>>GMKB>L "HK>Q:FIE> :G>GMKR<:G;>:F:GB?>LM
    >GMKR:G=:G>QIEB<BM>GMKR:MMA>L:F>MBF> B?MA>F:GB?>LMBLEBLM>=PBMABGMA>F:GB?>LM

    Ǭ ;FSPPSNPSF @;FF<;=EH;G?MJ;=?M63-T VTFEBT QSFИYNBUDIQBUUFSOT Q FBDIPGXIJDIJTNBQQFEUPB


    GBMMCBDLFOUSZ Q &BDIOBNFTQBDF63-IBTUIF TBNFPSJHJO Q BT UIFNBOJGFTU Q 

    Ǭ ;FSPPSNPSF63-TUIBUGPSNUIF IHFCH?QBCN?FCMNH;G?MJ;=?M

    Ǭ "O IHFCH?QBCN?FCMNQCF>=;L>^;A XIJDIJTFJUIFS >?4= PS 1;>2:8=6

    &BDI BQQMJDBUJPODBDIF Q IBTB =IGJF?N?H?MM^;A XIJDIJTFJUIFS 2><?;4C4 PS 8=2><?;4C4

    "O ;JJFC=;NCIH=;=B?ALIOJ JTBHSPVQPG BQQMJDBUJPODBDIFT Q JEFOUJИFECZUIF BCTPMVUF63- Q PGBSFTPVSDF


    NBOJGFTU Q XIJDIJTVTFEUPQPQVMBUFUIFDBDIFTJOUIFHSPVQ

    
    "O BQQMJDBUJPODBDIF Q JT H?Q?L UIBOBOPUIFSJGJUXBTDSFBUFEBGUFSUIFPUIFS JOPUIFSXPSET BQQMJDBUJPODBDIFT Q
    JOBO BQQMJDBUJPODBDIFHSPVQ Q IBWFBDISPOPMPHJDBMPSEFS
    

    0OMZUIFOFXFTU BQQMJDBUJPODBDIF Q JOBO BQQMJDBUJPODBDIFHSPVQ Q DBOIBWFJUT DPNQMFUFOFTTЙBH Q TFUUP
    8=2><?;4C4UIFPUIFSTBSFBMXBZTBMM 2><?;4C4

    &BDI BQQMJDBUJPODBDIFHSPVQ Q IBTBO OJ>;N?MN;NOM XIJDIJTPOFPGUIFGPMMPXJOH 83;4 2742:8=6 3>F=;>038=6

    " L?F?P;HN;JJFC=;NCIH=;=B? JTBO BQQMJDBUJPODBDIF Q UIBUJTUIF OFXFTU Q JOJUT HSPVQ Q UPCF 2><?;4C4

    &BDI BQQMJDBUJPODBDIFHSPVQ Q IBTB FCMNI@J?H>CHAG;MN?L?HNLC?M&BDIFOUSZJOUIJTMJTUDPOTJTUTPGBSFTPVSDF


    BOEBDPSSFTQPOEJOH %PDVNFOU Q PCKFDU*UJTVTFEEVSJOHUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q UPFOTVSFUIBU
    OFXNBTUFSFOUSJFTBSFDBDIFEFWFOJGUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q XBTBMSFBEZSVOOJOHGPSUIFJS
    BQQMJDBUJPODBDIFHSPVQ Q XIFOUIFZXFSFMPBEFE

    "O BQQMJDBUJPODBDIFHSPVQ Q DBOCFNBSLFEBT I<MIF?N? NFBOJOHUIBUJUNVTUCFJHOPSFEXIFOMPPLJOHBUXIBU


    BQQMJDBUJPODBDIFHSPVQT Q FYJTU

    " =;=B?BIMN JTB %PDVNFOU Q PSB 4IBSFE8PSLFS(MPCBM4DPQF PCKFDU" DBDIFIPTU Q DBOCFBTTPDJBUFEXJUIBO
    BQQMJDBUJPODBDIF Q  <8&#803,&34> Q

    " %PDVNFOU Q JOJUJBMMZJTOPUBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q CVUDBOCFDPNFBTTPDJBUFEXJUIPOFFBSMZ


    EVSJOHUIFQBHFMPBEQSPDFTT XIFOTUFQT JOUIFQBSTFS Q BOEJOUIF OBWJHBUJPO Q TFDUJPOTDBVTF DBDIFTFMFDUJPO Q
    UPPDDVS

    " 4IBSFE8PSLFS(MPCBM4DPQF DBOCFBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q XIFOJUJTDSFBUFE <8&#803,&34> Q

    &BDI DBDIFIPTU Q IBTBOBTTPDJBUFE "QQMJDBUJPO$BDIF Q PCKFDU

    .VMUJQMF BQQMJDBUJPODBDIFT Q JOEJЗFSFOU BQQMJDBUJPODBDIFHSPVQT Q DBODPOUBJOUIFTBNFSFTPVSDF FHJGUIF


    NBOJGFTUTBMMSFGFSFODFUIBUSFTPVSDF*GUIFVTFSBHFOUJTUP M?F?=N;H;JJFC=;NCIH=;=B? GSPNBMJTUPG SFMFWBOU
    BQQMJDBUJPODBDIFT Q UIBUDPOUBJOBSFTPVSDF UIFVTFSBHFOUNVTUVTFUIFBQQMJDBUJPODBDIFUIBUUIFVTFSNPTUMJLFMZ
    XBOUTUPTFFUIFSFTPVSDFGSPN UBLJOHJOUPBDDPVOUUIFGPMMPXJOH

    Ǭ XIJDIBQQMJDBUJPODBDIFXBTNPTUSFDFOUMZVQEBUFE

    Ǭ XIJDIBQQMJDBUJPODBDIFXBTCFJOHVTFEUPEJTQMBZUIFSFTPVSDFGSPNXIJDIUIFVTFSEFDJEFEUPMPPLBUUIF
    OFXSFTPVSDF BOE

    Ǭ XIJDIBQQMJDBUJPODBDIFUIFVTFSQSFGFST

    "63- G;N=B?M;@;FF<;=EH;G?MJ;=? JGUIFSFFYJTUTB SFMFWBOUBQQMJDBUJPODBDIF Q XIPTF NBOJGFTU Q T63-IBT


    UIF TBNFPSJHJO Q BTUIF63-JORVFTUJPO BOEUIBUIBTB GBMMCBDLOBNFTQBDF Q UIBUJTB QSFИYNBUDI Q GPSUIF63-
    CFJOHFYBNJOFE*GNVMUJQMFGBMMCBDLOBNFTQBDFTNBUDIUIFTBNF63- UIFMPOHFTUPOFJTUIFPOFUIBUNBUDIFT"63-
    MPPLJOHGPSBGBMMCBDLOBNFTQBDFDBONBUDINPSFUIBOPOFBQQMJDBUJPODBDIFBUBUJNF CVUPOMZNBUDIFTPOF
    OBNFTQBDFJOFBDIDBDIF

    *GBNBOJGFTU IUUQFYBNQMFDPNBQQNBOJGFTU EFDMBSFTUIBU IUUQFYBNQMFDPNSFTPVSDFTJNBHFT JTB


    GBMMCBDLOBNFTQBDF BOEUIFVTFSOBWJHBUFTUP )551&9".1-&$0.SFTPVSDFTJNBHFTDBUQOH UIFOUIF
    VTFSBHFOUXJMMEFDJEFUIBUUIFBQQMJDBUJPODBDIFJEFOUJИFECZ IUUQFYBNQMFDPNBQQNBOJGFTU DPOUBJOTB
    OBNFTQBDFXJUIBNBUDIGPSUIBU63-

       0B?=;=B?G;HC@?MNMSHN;R
        M;GJF?G;HC@?MN

    *78BB42C8>=8B=>==>A<0C8E4

    5IJTFYBNQMFNBOJGFTUSFRVJSFTUXPJNBHFTBOEBTUZMFTIFFUUPCFDBDIFEBOEXIJUFMJTUTB$(*TDSJQU

    $"$)&."/*'&45
    UIFBCPWFMJOFJTSFRVJSFE

    UIJTJTBDPNNFOU
    UIFSFDBOCFBTNBOZPGUIFTFBOZXIFSFJOUIFGJMF
    UIFZBSFBMMJHOPSFE
    DPNNFOUTDBOIBWFTQBDFTCFGPSFUIFN

    
    CVUNVTUCFBMPOFPOUIFMJOF

    CMBOLMJOFTBSFJHOPSFEUPP

    UIFTFBSFGJMFTUIBUOFFEUPCFDBDIFEUIFZDBOFJUIFSCFMJTUFE
    GJSTU PSB$"$)&IFBEFSDPVMECFQVUCFGPSFUIFN BTJTEPOF
    MPXFSEPXO
    JNBHFTTPVOEJDPOQOH
    JNBHFTCBDLHSPVOEQOH
    OPUFUIBUFBDIGJMFIBTUPCFQVUPOJUTPXOMJOF

    IFSFJTBGJMFGPSUIFPOMJOFXIJUFMJTUJUJTOUDBDIFE BOE
    SFGFSFODFTUPUIJTGJMFXJMMCZQBTTUIFDBDIF BMXBZTIJUUJOHUIF
    OFUXPSL PSUSZJOHUP JGUIFVTFSJTPGGMJOF
    
    /&5803,
    DPNNDHJ

    IFSFJTBOPUIFSTFUPGGJMFTUPDBDIF UIJTUJNFKVTUUIF$44GJMF
    $"$)&
    TUZMFEFGBVMUDTT

    *UDPVMEFRVBMMZXFMMCFXSJUUFOBTGPMMPXT

    $"$)&."/*'&45
    /&5803,
    DPNNDHJ
    $"$)&
    TUZMFEFGBVMUDTT
    JNBHFTTPVOEJDPOQOH
    JNBHFTCBDLHSPVOEQOH

    5IFGPMMPXJOHNBOJGFTUEFИOFTBDBUDIBMMFSSPSQBHFUIBUJTEJTQMBZFEGPSBOZQBHFPOUIFTJUFXIJMFUIFVTFSJTPЛJOF
    *UBMTPTQFDJИFTUIBUUIF POMJOFXIJUFMJTUXJMEDBSEЙBH Q JT >?4= NFBOJOHUIBUBDDFTTFTUPSFTPVSDFTPOPUIFSTJUFT
    XJMMOPUCFCMPDLFE 3FTPVSDFTPOUIFTBNFTJUFBSFBMSFBEZOPUCMPDLFECFDBVTFPGUIFDBUDIBMMGBMMCBDLOBNFTQBDF

    4PMPOHBTBMMQBHFTPOUIFTJUFSFGFSFODFUIJTNBOJGFTU UIFZXJMMHFUDBDIFEMPDBMMZBTUIFZBSFGFUDIFE TPUIBU


    TVCTFRVFOUIJUTUPUIFTBNFQBHFXJMMMPBEUIFQBHFJNNFEJBUFMZGSPNUIFDBDIF6OUJMUIFNBOJGFTUJTDIBOHFE UIPTF
    QBHFTXJMMOPUCFGFUDIFEGSPNUIFTFSWFSBHBJO8IFOUIFNBOJGFTUDIBOHFT UIFOBMMUIFИMFTXJMMCFSFEPXOMPBEFE

    4VCSFTPVSDFT TVDIBTTUZMFTIFFUT JNBHFT FUD XPVMEPOMZCFDBDIFEVTJOHUIFSFHVMBS)551DBDIJOHTFNBOUJDT


    IPXFWFS

    $"$)&."/*'&45
    '"--#"$,
    PGGMJOFIUNM
    /&5803,

        3LCNCHA=;=B?G;HC@?MNM

    .BOJGFTUTNVTUCFTFSWFEVTJOHUIF UFYUDBDIFNBOJGFTU Q .*.&UZQF Q "MMSFTPVSDFTTFSWFEVTJOHUIF UFYU


    DBDIFNBOJGFTU Q .*.&UZQF Q NVTUGPMMPXUIFTZOUBYPGBQQMJDBUJPODBDIFNBOJGFTUT BTEFTDSJCFEJOUIJTTFDUJPO

    "OBQQMJDBUJPODBDIFNBOJGFTUJTBUFYUИMF XIPTFUFYUJTFODPEFEVTJOH65'%BUBJOBQQMJDBUJPODBDIFNBOJGFTUTJT
    MJOFCBTFE/FXMJOFTNVTUCFSFQSFTFOUFECZ6 "-*/&'&&% -'
    DIBSBDUFST 6 %$"33*"(&3&563/ $3

    DIBSBDUFST PS6 %$"33*"(&3&563/ $3


    6 "-*/&'&&% -'
    QBJST

    *HM> 0ABLBL: PBEE?NEOBHE:MBHG I H?MPH:LI><MLH?."  PAB<AK>JNBK>L:EE M>QM


    MRI>LMH
    LNIIHKM:GHI>G
    >G=>=L>MH?<A:K:<M>K>G<H=BG@L:G=HGER:EEHPL.("EBG>;K>:DL 0A>L>
    K>JNBK>F>GML AHP>O>K :K>HNM=:M>=10"
    BLGHPPB=>ERNL>= LN<AMA:MLNIIHKMBG@HMA>K
    >G<H=BG@LBLGHEHG@>KG><>LL:KR :G=NL>H?. (" :G=.("EBG>;K>:DLBL<HFFHGERLNIIHKM>=
    :G=BG=>>=LHF>MBF>L.("BL GHM LNIIHKM>=;RM>QM>=BMHKL 7." 8 I

    5IFИSTUMJOFPGBOBQQMJDBUJPODBDIFNBOJGFTUNVTUDPOTJTUPGUIFTUSJOH$"$)& BTJOHMF6 41"$&DIBSBDUFS


    UIFTUSJOH."/*'&45 BOEFJUIFSB6 41"$&DIBSBDUFS B6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFS B

    
    6 "-*/&'&&% -'
    DIBSBDUFS PSB6 %$"33*"(&3&563/ $3
    DIBSBDUFS5IFИSTUMJOFNBZPQUJPOBMMZCF
    QSFDFEFECZB6 '&''#:5&03%&3."3, #0.
    DIBSBDUFS*GBOZPUIFSUFYUJTGPVOEPOUIFИSTUMJOF JUJTJHOPSFE

    4VCTFRVFOUMJOFT JGBOZ NVTUBMMCFPOFPGUIFGPMMPXJOH

    <F;HEFCH?
    #MBOLMJOFTNVTUDPOTJTUPG[FSPPSNPSF6 41"$&BOE6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFST
    POMZ

    =IGG?HN
    $PNNFOUMJOFTNVTUDPOTJTUPG[FSPPSNPSF6 41"$&BOE6 $)"3"$5&35"#6-"5*0/ UBC

    DIBSBDUFST GPMMPXFECZBTJOHMF6 /6.#&34*(/DIBSBDUFS 


    GPMMPXFECZ[FSPPSNPSFDIBSBDUFSTPUIFS
    UIBO6 "-*/&'&&% -'
    BOE6 %$"33*"(&3&563/ $3
    DIBSBDUFST

    *HM> HFF>GMLFNLM;>HG:EBG>HGMA>BKHPG %?MA>RP>K>MH;>BG<EN=>=HG:EBG>PBMA:


    1.( MA>PHNE=;>FBLM:D>G?HKI:KMH?:?K:@F>GMB=>GMB[>K

    M?=NCIHB?;>?L
    4FDUJPOIFBEFSTDIBOHFUIFDVSSFOUTFDUJPO5IFSFBSFUISFFQPTTJCMFTFDUJPOIFBEFST

    !!&#
    4XJUDIFTUPUIF ?RJFC=CNM?=NCIH
    $** !)
    4XJUDIFTUPUIF @;FF<;=EM?=NCIH
    ,#25-0)
    4XJUDIFTUPUIF IHFCH?QBCN?FCMNM?=NCIH

    4FDUJPOIFBEFSMJOFTNVTUDPOTJTUPG[FSPPSNPSF6 41"$&BOE6 $)"3"$5&35"#6-"5*0/ UBC

    DIBSBDUFST GPMMPXFECZPOFPGUIFOBNFTBCPWF JODMVEJOHUIF6 "$0-0/DIBSBDUFS 

    GPMMPXFECZ[FSPPS
    NPSF6 41"$&BOE6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFST

    *SPOJDBMMZ CZEFGBVMU UIFDVSSFOUTFDUJPOJTUIF FYQMJDJUTFDUJPO Q 

    ;N;@ILNB?=OLL?HNM?=NCIH
    5IFGPSNBUUIBUEBUBMJOFTNVTUUBLFEFQFOETPOUIFDVSSFOUTFDUJPO

    8IFOUIFDVSSFOUTFDUJPOJTUIF FYQMJDJUTFDUJPO Q EBUBMJOFTNVTUDPOTJTUPG[FSPPSNPSF6 41"$&BOE


    6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFST B WBMJE63- Q JEFOUJGZJOHBSFTPVSDFPUIFSUIBOUIFNBOJGFTU
    JUTFMG BOEUIFO[FSPPSNPSF6 41"$&BOE6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFST

    8IFOUIFDVSSFOUTFDUJPOJTUIF GBMMCBDLTFDUJPO Q EBUBMJOFTNVTUDPOTJTUPG[FSPPSNPSF6 41"$&BOE


    6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFST B WBMJE63- Q JEFOUJGZJOHBSFTPVSDFPUIFSUIBOUIFNBOJGFTU
    JUTFMG POFPSNPSF6 41"$&BOE6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFST BOPUIFS WBMJE63- Q
    JEFOUJGZJOHBSFTPVSDFPUIFSUIBOUIFNBOJGFTUJUTFMG BOEUIFO[FSPPSNPSF6 41"$&BOE6 
    $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFST

    8IFOUIFDVSSFOUTFDUJPOJTUIF POMJOFXIJUFMJTUTFDUJPO Q EBUBMJOFTNVTUDPOTJTUPG[FSPPSNPSF6 


    41"$&BOE6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFST FJUIFSBTJOHMF6 ""45&3*4,DIBSBDUFS
    PS
    B WBMJE63- Q JEFOUJGZJOHBSFTPVSDFPUIFSUIBOUIFNBOJGFTUJUTFMG BOEUIFO[FSPPSNPSF6 41"$&BOE
    6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFST

    .BOJGFTUTNBZDPOUBJOTFDUJPOTNPSFUIBOPODF4FDUJPOTNBZCFFNQUZ

    *GUIFNBOJGFTUT TDIFNF Q JT IUUQT PSBOPUIFSTDIFNFJOUFOEFEGPSFODSZQUFEEBUBUSBOTGFS UIFOBMM63-TJO


    FYQMJDJUTFDUJPOT Q NVTUIBWFUIF TBNFPSJHJO Q BTUIFNBOJGFTUJUTFMG

    63-TUIBUBSFUPCFGBMMCBDLQBHFTBTTPDJBUFEXJUI GBMMCBDLOBNFTQBDFT Q BOEUIPTFOBNFTQBDFTUIFNTFMWFT NVTU


    CFHJWFOJO GBMMCBDLTFDUJPOT Q XJUIUIFOBNFTQBDFCFJOHUIFИSTU63-PGUIFEBUBMJOF BOEUIFDPSSFTQPOEJOH
    GBMMCBDLQBHFCFJOHUIFTFDPOE63-"MMUIFPUIFSQBHFTUPCFDBDIFENVTUCFMJTUFEJO FYQMJDJUTFDUJPOT Q 

    'BMMCBDLOBNFTQBDFT Q BOE GBMMCBDLFOUSJFT Q NVTUIBWFUIF TBNFPSJHJO Q BTUIFNBOJGFTUJUTFMG

    " GBMMCBDLOBNFTQBDF Q NVTUOPUCFMJTUFENPSFUIBOPODF

    /BNFTQBDFTUIBUUIFVTFSBHFOUJTUPQVUJOUPUIF POMJOFXIJUFMJTU Q NVTUBMMCFTQFDJИFEJO POMJOFXIJUFMJTU


    TFDUJPOT Q  5IJTJTOFFEFEGPSBOZ63-UIBUUIFQBHFJTJOUFOEJOHUPVTFUPDPNNVOJDBUFCBDLUPUIFTFSWFS
    5P

    
    TQFDJGZUIBUBMM63-TBSFBVUPNBUJDBMMZXIJUFMJTUFEJOUIJTXBZ B6 ""45&3*4,DIBSBDUFSDIBSBDUFS
    NBZCF
    TQFDJИFEBTPOFPGUIF63-T

    "VUIPSTTIPVMEOPUJODMVEFOBNFTQBDFTJOUIF POMJOFXIJUFMJTU Q GPSXIJDIBOPUIFSOBNFTQBDFJOUIF POMJOF


    XIJUFMJTU Q JTB QSFИYNBUDI Q 

    3FMBUJWF63-TNVTUCFHJWFOSFMBUJWFUPUIFNBOJGFTUTPXO63-"MM63-TJOUIFNBOJGFTUNVTUIBWFUIFTBNF
    TDIFNF Q BTUIFNBOJGFTUJUTFMG FJUIFSFYQMJDJUMZPSJNQMJDJUMZ UISPVHIUIFVTFPGSFMBUJWF63-T
    

    63-TJONBOJGFTUTNVTUOPUIBWFGSBHNFOUJEFOUJИFST JFUIF6 /6.#&34*(/DIBSBDUFSJTOUBMMPXFEJO63-TJO


    NBOJGFTUT
    

    'BMMCBDLOBNFTQBDFT Q BOEOBNFTQBDFTJOUIF POMJOFXIJUFMJTU Q BSFNBUDIFECZ QSFИYNBUDI Q 

        ,;LMCHA=;=B?G;HC@?MNM

    8IFOBVTFSBHFOUJTUP J;LM?;G;HC@?MN JUNFBOTUIBUUIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     5IFVTFSBHFOUNVTUEFDPEFUIFCZUFTUSFBNDPSSFTQPOEJOHXJUIUIFNBOJGFTUUPCFQBSTFE USFBUJOHJUBT
    65'#ZUFTPSTFRVFODFTPGCZUFTUIBUBSFOPUWBMJE65'TFRVFODFTNVTUCFJOUFSQSFUFEBTB6 '''%
    3&1-"$&.&/5$)"3"$5&3

     -FU 10B4+(" CFUIF BCTPMVUF63- Q SFQSFTFOUJOHUIFNBOJGFTU

     -FU 4G?;828C+("B CFBOJOJUJBMMZFNQUZMJTUPG BCTPMVUF63-T Q GPS FYQMJDJUFOUSJFT Q 

     -FU 50;;102:+("B CFBOJOJUJBMMZFNQUZNBQQJOHPG GBMMCBDLOBNFTQBDFT Q UP BCTPMVUF63-T Q GPS GBMMCBDL


    FOUSJFT Q 

     -FU >=;8=4F78C4;8BC=0<4B?024B CFBOJOJUJBMMZFNQUZMJTUPG BCTPMVUF63-T Q GPSBO POMJOFXIJUFMJTU Q 

     -FU >=;8=4F78C4;8BCF8;320A3Q06 CF 1;>2:8=6

     -FU 8=?DC CFUIFEFDPEFEUFYUPGUIFNBOJGFTUTCZUFTUSFBN

     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFИSTUDIBSBDUFS

     *G ?>B8C8>= JTQPJOUJOHBUB6 '&''#:5&03%&3."3, #0.


    DIBSBDUFS UIFOBEWBODF ?>B8C8>= UPUIFOFYU
    DIBSBDUFS

     *GUIFDIBSBDUFSTTUBSUJOHGSPN ?>B8C8>= BSF$"$)& GPMMPXFECZB6 41"$&DIBSBDUFS GPMMPXFECZ


    ."/*'&45 UIFOBEWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFSBGUFSUIPTF0UIFSXJTF UIJTJTOUBDBDIFNBOJGFTU
    BCPSUUIJTBMHPSJUINXJUIBGBJMVSFXIJMFDIFDLJOHGPSUIFNBHJDTJHOBUVSF

     *GUIFDIBSBDUFSBU ?>B8C8>= JTOFJUIFSB6 41"$&DIBSBDUFS B6 $)"3"$5&35"#6-"5*0/ UBC

    DIBSBDUFS 6 "-*/&'&&% -'


    DIBSBDUFS OPSB6 %$"33*"(&3&563/ $3
    DIBSBDUFS UIFOUIJT
    JTOUBDBDIFNBOJGFTUBCPSUUIJTBMHPSJUINXJUIBGBJMVSFXIJMFDIFDLJOHGPSUIFNBHJDTJHOBUVSF

     5IJTJTBDBDIFNBOJGFTU5IFBMHPSJUINDBOOPUGBJMCFZPOEUIJTQPJOU UIPVHICPHVTMJOFTDBOHFUJHOPSFE


    

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q UIBUBSF =>C 6 "-*/&'&&% -'


    PS6 %$"33*"(&3&563/ $3

    DIBSBDUFST BOEJHOPSFUIPTFDIBSBDUFST &YUSBUFYUPOUIFИSTUMJOF BGUFSUIFTJHOBUVSF JTJHOPSFE

     -FU <>34 CFFYQMJDJU

     )C0AC>5;8=4*G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC UIFOKVNQUPUIFMBTUTUFQ0UIFSXJTF DPMMFDUBTFRVFODFPG


    DIBSBDUFST Q UIBUBSF6 "-*/&'&&% -'
    6 %$"33*"(&3&563/ $3
    6 41"$& PS6 
    $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFST

     /PX DPMMFDUBTFRVFODFPGDIBSBDUFST Q UIBUBSF =>C 6 "-*/&'&&% -'


    PS6 %$"33*"(&3&563/
    $3
    DIBSBDUFST BOEMFUUIFSFTVMUCF ;8=4

     %SPQBOZUSBJMJOH6 41"$&BOE6 $)"3"$5&35"#6-"5*0/ UBC


    DIBSBDUFSTBUUIFFOEPG ;8=4

     *G ;8=4 JTUIFFNQUZTUSJOH UIFOKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

     *GUIFИSTUDIBSBDUFSJO ;8=4 JTB6 /6.#&34*(/DIBSBDUFS 


    UIFOKVNQCBDLUPUIFTUFQMBCFMFE
    TUBSUPGMJOF

     *G ;8=4 FRVBMT$"$)& UIFXPSE$"$)&GPMMPXFECZB6 "$0-0/DIBSBDUFS 

    UIFOTFU <>34 UP
    FYQMJDJUBOEKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

    
     *G ;8=4 FRVBMT'"--#"$, UIFXPSE'"--#"$,GPMMPXFECZB6 "$0-0/DIBSBDUFS 

    UIFOTFU <>34
    UPGBMMCBDLBOEKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

     *G ;8=4 FRVBMT/&5803, UIFXPSE/&5803,GPMMPXFECZB6 "$0-0/DIBSBDUFS 

    UIFOTFU <>34
    UPPOMJOFXIJUFMJTUBOEKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

     *G ;8=4 FOETXJUIB6 "$0-0/DIBSBDUFS 


    UIFOTFU <>34 UPVOLOPXOBOEKVNQCBDLUPUIFTUFQ
    MBCFMFETUBSUPGMJOF

     5IJTJTFJUIFSBEBUBMJOFPSJUJTTZOUBDUJDBMMZJODPSSFDU

     -FU ?>B8C8>= CFBQPJOUFSJOUP ;8=4 JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     -FU C>:4=B CFBMJTUPGTUSJOHT JOJUJBMMZFNQUZ

     8IJMF ?>B8C8>= EPFTOUQPJOUQBTUUIFFOEPG ;8=4

     -FU 2DAA4=CC>:4= CFBOFNQUZTUSJOH

     8IJMF ?>B8C8>= EPFTOUQPJOUQBTUUIFFOEPG ;8=4 BOEUIFDIBSBDUFSBU ?>B8C8>= JTOFJUIFSB6 


    41"$&OPSB6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFS BEEUIFDIBSBDUFSBU ?>B8C8>= UP
    2DAA4=CC>:4= BOEBEWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFSJO 8=?DC

     "EE 2DAA4=CC>:4= UPUIF C>:4=B MJTU

     8IJMF ?>B8C8>= EPFTOUQPJOUQBTUUIFFOEPG ;8=4 BOEUIFDIBSBDUFSBU ?>B8C8>= JTFJUIFSB6 


    41"$&PSB6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFS BEWBODF ?>B8C8>= UPUIFOFYU
    DIBSBDUFSJO 8=?DC

     1SPDFTT C>:4=B BTGPMMPXT

    X %@ FH=> CM?RJFC=CN
    3FTPMWF Q UIFИSTUJUFNJO C>:4=B SFMBUJWFUP 10B4+("JHOPSFUIFSFTU

    *GUIJTGBJMT UIFOKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

    *GUIFSFTVMUJOH BCTPMVUF63- Q IBTBEJЗFSFOU TDIFNF Q DPNQPOFOUUIBOUIFNBOJGFTUT63-


    DPNQBSFEJOBO "4$**DBTFJOTFOTJUJWF Q NBOOFS
    UIFOKVNQCBDLUPUIFTUFQMBCFMFETUBSUPG
    MJOF*GUIFNBOJGFTUT TDIFNF Q JT IUUQT PSBOPUIFSTDIFNFJOUFOEFEGPSFODSZQUFEEBUB
    USBOTGFS BOEUIFSFTVMUJOH BCTPMVUF63- Q EPFTOPUIBWFUIF TBNFPSJHJO Q BTUIFNBOJGFTUT
    63- UIFOKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

    %SPQUIF GSBHNFOU Q DPNQPOFOUPGUIFSFTVMUJOH BCTPMVUF63- Q JGJUIBTPOF

    "EEUIFSFTVMUJOH BCTPMVUF63- Q UPUIF 4G?;828C+("B

    X %@ FH=> CM@;FF<;=E
    -FU ?0AC>=4 CFUIFИSTUUPLFOJO C>:4=B BOEMFU ?0ACCF> CFUIFTFDPOEUPLFOJO C>:4=B

    3FTPMWF Q ?0AC>=4 BOE ?0ACCF> SFMBUJWFUP 10B4+("

    *GFJUIFSGBJMT UIFOKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

    *GUIF BCTPMVUF63- Q DPSSFTQPOEJOHUPFJUIFS ?0AC>=4 PS ?0ACCF> EPFTOPUIBWFUIF TBNF


    PSJHJO Q BTUIFNBOJGFTUT63- UIFOKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

    %SPQBOZUIF GSBHNFOU Q DPNQPOFOUTPGUIFSFTVMUJOH BCTPMVUF63-T Q 

    *GUIF BCTPMVUF63- Q DPSSFTQPOEJOHUP ?0AC>=4 JTBMSFBEZJOUIF 50;;102:+("B NBQQJOHBTB


    GBMMCBDLOBNFTQBDF Q UIFOKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

    0UIFSXJTF BEEUIF BCTPMVUF63- Q DPSSFTQPOEJOHUP ?0AC>=4 UPUIF 50;;102:+("B NBQQJOHBTB


    GBMMCBDLOBNFTQBDF Q NBQQFEUPUIF BCTPMVUF63- Q DPSSFTQPOEJOHUP ?0ACCF> BTUIF GBMMCBDL
    FOUSZ Q 

    X %@ FH=> CMIHFCH?QBCN?FCMN
    *GUIFИSTUJUFNJO C>:4=B JTB6 ""45&3*4,DIBSBDUFS
    UIFOTFU >=;8=4F78C4;8BCF8;320A3
    Q06 UP >?4= BOEKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

    0UIFSXJTF SFTPMWF Q UIFИSTUJUFNJO C>:4=B SFMBUJWFUP 10B4+("JHOPSFUIFSFTU

    
    *GUIJTGBJMT UIFOKVNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF

    *GUIFSFTVMUJOH BCTPMVUF63- Q IBTBEJЗFSFOU TDIFNF Q DPNQPOFOUUIBOUIFNBOJGFTUT63-


    DPNQBSFEJOBO "4$**DBTFJOTFOTJUJWF Q NBOOFS
    UIFOKVNQCBDLUPUIFTUFQMBCFMFETUBSUPG
    MJOF

    %SPQUIF GSBHNFOU Q DPNQPOFOUPGUIFSFTVMUJOH BCTPMVUF63- Q JGJUIBTPOF

    "EEUIFSFTVMUJOH BCTPMVUF63- Q UPUIF >=;8=4F78C4;8BC=0<4B?024B

    X %@ FH=> CMOHEHIQH
    %POPUIJOH5IFMJOFJTJHOPSFE

     +VNQCBDLUPUIFTUFQMBCFMFETUBSUPGMJOF 5IBUTUFQKVNQTUPUIFOFYU BOEMBTU TUFQXIFOUIFFOEPGUIF


    ИMFJTSFBDIFE

     3FUVSOUIF 4G?;828C+("B MJTU UIF 50;;102:+("B NBQQJOH UIF >=;8=4F78C4;8BC=0<4B?024B BOEUIF >=;8=4
    F78C4;8BCF8;320A3Q06

    %?:K>LHNK<>BLEBLM>=BGMA> >QIEB<BML><MBHG I HK:L: ?:EE;:<D>GMKR I BGMA> ?:EE;:<DL><MBHG I


    MA>K>LHNK<>PBEE:EP:RL;>M:D>G?KHFMA><:<A> K>@:K=E>LLH?:GRHMA>KF:M<ABG@>GMKB>LBGMA>
    ?:EE;:<DG:F>LI:<>L I HK HGEBG>PABM>EBLMG:F>LI:<>L I

    3A>G: ?:EE;:<DG:F>LI:<> I :G=:G HGEBG>PABM>EBLMG:F>LI:<> I HO>KE:I MA> HGEBG>PABM>EBLM


    G:F>LI:<> I A:LIKBHKBMR

    0A> HGEBG>PABM>EBLMPBE=<:K=\:@ I BL:IIEB>=E:LM HGER?HK1.(LMA:MF:M<AG>BMA>KMA> HGEBG>


    PABM>EBLMG:F>LI:<> I GHKMA> ?:EE;:<DG:F>LI:<> I :G=MA:M:K>GHMEBLM>=BGMA> >QIEB<BM
    L><MBHG I

       IQHFI;>CHAILOJ>;NCHA;H;JJFC=;NCIH=;=B?

    8IFOUIFVTFSBHFOUJTSFRVJSFE CZPUIFSQBSUTPGUIJTTQFDJИDBUJPO
    UPTUBSUUIF ;JJFC=;NCIH=;=B?>IQHFI;>
    JLI=?MM GPSBO BCTPMVUF63- Q QVSQPSUFEUPJEFOUJGZB NBOJGFTU Q PSGPSBO BQQMJDBUJPODBDIFHSPVQ Q QPUFOUJBMMZ
    HJWFOBQBSUJDVMBS DBDIFIPTU Q BOEQPUFOUJBMMZHJWFOB NBTUFS Q SFTPVSDF UIFVTFSBHFOUNVTUSVOUIFTUFQT
    CFMPX5IFTFTUFQTBSFBMXBZTSVOBTZODISPOPVTMZ JOQBSBMMFMXJUIUIF FWFOUMPPQ Q UBTLT Q 

    4PNFPGUIFTFTUFQTIBWFSFRVJSFNFOUTUIBUPOMZBQQMZJGUIFVTFSBHFOU MBIQM=;=BCHAJLIAL?MM4VQQPSUGPSUIJTJT
    PQUJPOBM$BDIJOHQSPHSFTT6*DPVMEDPOTJTUPGBQSPHSFTTCBSPSNFTTBHFQBOFMJOUIFVTFSBHFOUTJOUFSGBDF PSBO
    PWFSMBZ PSTPNFUIJOHFMTF$FSUBJOFWFOUTИSFEEVSJOHUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q BMMPXUIFTDSJQUUP
    PWFSSJEFUIFEJTQMBZPGTVDIBOJOUFSGBDF5IFHPBMPGUIJTJTUPBMMPX8FCBQQMJDBUJPOTUPQSPWJEFNPSFTFBNMFTT
    VQEBUFNFDIBOJTNT IJEJOHGSPNUIFVTFSUIFNFDIBOJDTPGUIFBQQMJDBUJPODBDIFNFDIBOJTN6TFSBHFOUTNBZ
    EJTQMBZVTFSJOUFSGBDFTJOEFQFOEFOUPGUIJT CVUBSFFODPVSBHFEUPOPUTIPXQSPNJOFOUVQEBUFQSPHSFTTOPUJИDBUJPOT
    GPSBQQMJDBUJPOTUIBUDBODFMUIFSFMFWBOUFWFOUT

    *HM> 0A>L>>O>GML:K>=>E:R>=NGMBE:?M>KMA> EH:= >O>GMA:L[K>=

    5IF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q TUFQTBSFBTGPMMPXT

     0QUJPOBMMZ XBJUVOUJMUIFQFSNJTTJPOUPTUBSUUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q IBTCFFOPCUBJOFE


    GSPNUIFVTFSBOEVOUJMUIFVTFSBHFOUJTDPOИEFOUUIBUUIFOFUXPSLJTBWBJMBCMF5IJTDPVMEJODMVEFEPJOH
    OPUIJOHVOUJMUIFVTFSFYQMJDJUMZPQUTJOUPDBDIJOHUIFTJUF PSDPVMEJOWPMWFQSPNQUJOHUIFVTFSGPS
    QFSNJTTJPO5IFBMHPSJUINNJHIUOFWFSHFUQBTUUIJTQPJOU 5IJTTUFQJTQBSUJDVMBSMZJOUFOEFEUPCFVTFECZ
    VTFSBHFOUTSVOOJOHPOTFWFSFMZTQBDFDPOTUSBJOFEEFWJDFTPSJOIJHIMZQSJWBDZTFOTJUJWFFOWJSPONFOUT
    

     "UPNJDBMMZ TPBTUPBWPJESBDFDPOEJUJPOT QFSGPSNUIFGPMMPXJOHTVCTUFQT

     1JDLUIFBQQSPQSJBUFTVCTUFQT
    J
    X %@NB?M?MN?JMQ?L?CHPIE?>QCNB;H ;<MIFON?1.( JOLJILN?>NIC>?HNC@S;
    J
    G;HC@?MN
    -FU <0=854BC+(" CFUIBU BCTPMVUF63- Q 

    *GUIFSFJTOP BQQMJDBUJPODBDIFHSPVQ Q JEFOUJИFECZ <0=854BC+(" UIFODSFBUFBOFX


    BQQMJDBUJPODBDIFHSPVQ Q JEFOUJИFECZ <0=854BC+("*OJUJBMMZ JUIBTOP BQQMJDBUJPO
    DBDIFT Q 0OFXJMMCFDSFBUFEMBUFSJOUIJTBMHPSJUIN

    
    J
    X %@NB?M?MN?JMQ?L?CHPIE?>QCNB;H ;JJFC=;NCIH=;=B?ALIOJ
    -FU <0=854BC+(" CFUIF BCTPMVUF63- Q PGUIF NBOJGFTU Q VTFEUPJEFOUJGZUIF
    BQQMJDBUJPODBDIFHSPVQ Q UPCFVQEBUFE

     -FU 202746A>D? CFUIF BQQMJDBUJPODBDIFHSPVQ Q JEFOUJИFECZ <0=854BC+("

     *GUIFTFTUFQTXFSFJOWPLFEXJUIB NBTUFS Q SFTPVSDF UIFOBEEUIFSFTPVSDF BMPOHXJUIUIF


    SFTPVSDFT %PDVNFOU Q UP 202746A>D?T MJTUPGQFOEJOHNBTUFSFOUSJFT Q 

     *GUIFTFTUFQTXFSFJOWPLFEXJUIB DBDIFIPTU Q BOEUIF TUBUVT Q PG 202746A>D? JT 2742:8=6 PS


    3>F=;>038=6 UIFO RVFVFBQPTUMPBEUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE DIFDLJOH Q UIBUJT
    DBODFMBCMFBUUIF "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIBU DBDIFIPTU Q 5IFEFGBVMUBDUJPOPGUIJT
    FWFOUNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFS
    JOUFSGBDFJOEJDBUJOHUPUIFVTFSUIBUUIFVTFSBHFOUJTDIFDLJOHUPTFFJGJUDBOEPXOMPBEUIF
    BQQMJDBUJPO

     *GUIFTFTUFQTXFSFJOWPLFEXJUIB DBDIFIPTU Q BOEUIF TUBUVT Q PG 202746A>D? JT


    3>F=;>038=6 UIFOBMTP RVFVFBQPTUMPBEUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE
    EPXOMPBEJOH Q UIBUJTDBODFMBCMFBUUIF "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIBU DBDIFIPTU Q 
    5IFEFGBVMUBDUJPOPGUIJTFWFOUNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q UIFEJTQMBZ
    PGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOHUPUIFVTFSUIFBQQMJDBUJPOJTCFJOHEPXOMPBEFE

     *GUIF TUBUVT Q PGUIF 202746A>D? JTFJUIFS 2742:8=6 PS 3>F=;>038=6 UIFOBCPSUUIJTJOTUBODFPG


    UIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q BTBOVQEBUFJTBMSFBEZJOQSPHSFTT

     4FUUIF TUBUVT Q PG 202746A>D? UP 2742:8=6

     'PSFBDI DBDIFIPTU Q BTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q JO 202746A>D? RVFVFBQPTUMPBE


    UBTL Q UP ИSFBTJNQMFFWFOU Q UIBUJTDBODFMBCMFOBNFE DIFDLJOH Q BUUIF
    "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIF DBDIFIPTU Q 5IFEFGBVMUBDUJPOPGUIFTFFWFOUTNVTUCF
    JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOH
    UPUIFVTFSUIBUUIFVTFSBHFOUJTDIFDLJOHGPSUIFBWBJMBCJMJUZPGVQEBUFT

    *HM> 0A>K>F:BG=>KH?MA>LM>ILKNG:LRG<AKHGHNLER

    *G 202746A>D? BMSFBEZIBTBO BQQMJDBUJPODBDIF Q JOJU UIFOUIJTJTBO OJAL;>?;NN?GJN0UIFSXJTF UIJTJT


    B =;=B?;NN?GJN

     *GUIJTJTB DBDIFBUUFNQU Q UIFOUIJTBMHPSJUINXBTJOWPLFEXJUIB DBDIFIPTU Q  RVFVFBQPTUMPBE


    UBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE DIFDLJOH Q UIBUJTDBODFMBCMFBUUIF "QQMJDBUJPO$BDIF Q
    TJOHMFUPOPGUIBU DBDIFIPTU Q 5IFEFGBVMUBDUJPOPGUIJTFWFOUNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOH
    QSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOHUPUIFVTFSUIBUUIFVTFSBHFOUJTDIFDLJOH
    GPSUIFBWBJMBCJMJUZPGVQEBUFT

     4C278=6C74<0=854BC 'FUDI Q UIFSFTPVSDFGSPN <0=854BC+(" BOEMFU <0=854BC CFUIBUSFTPVSDF

    *GUIFSFTPVSDFJTMBCFMFEXJUIUIF .*.&UZQF Q UFYUDBDIFNBOJGFTU Q QBSTF <0=854BC BDDPSEJOHUPUIF


    SVMFTGPSQBSTJOHNBOJGFTUT Q PCUBJOJOHBMJTUPG FYQMJDJUFOUSJFT Q GBMMCBDLFOUSJFT Q BOEUIF GBMMCBDL
    OBNFTQBDFT Q UIBUNBQUPUIFN FOUSJFTGPSUIF POMJOFXIJUFMJTU Q BOEBWBMVFGPSUIF POMJOFXIJUFMJTU
    XJMEDBSEЙBH Q 

     *G 54C278=6C74<0=854BC GBJMTEVFUPBPSSFTQPOTF PSFRVJWBMFOU Q UIFOSVOUIFTFTVCTUFQT

     .BSL 202746A>D? BT PCTPMFUF Q 5IJT 202746A>D? OPMPOHFSFYJTUTGPSBOZQVSQPTFPUIFSUIBO


    UIFQSPDFTTJOHPG %PDVNFOU Q PCKFDUTBMSFBEZBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q JOUIF
    202746A>D?

     -FU C0B:;8BC CFBOFNQUZMJTUPG UBTLT Q 

     'PSFBDI DBDIFIPTU Q BTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q JO 202746A>D? DSFBUFB UBTL Q
    UP ИSFBTJNQMFFWFOU Q OBNFE PCTPMFUF Q UIBUJTDBODFMBCMFBUUIF "QQMJDBUJPO$BDIF Q
    TJOHMFUPOPGUIF DBDIFIPTU Q BOEBEEJUUP C0B:;8BC5IFEFGBVMUBDUJPOPGUIFTFFWFOUTNVTUCF
    JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOH
    UPUIFVTFSUIBUUIFBQQMJDBUJPOJTOPMPOHFSBWBJMBCMFGPSPЛJOFVTF

     'PSFBDIFOUSZJO 202746A>D?T MJTUPGQFOEJOHNBTUFSFOUSJFT Q DSFBUFB UBTL Q UP ИSFBTJNQMF


    FWFOU Q UIBUJTDBODFMBCMFOBNFE FSSPS Q OPU PCTPMFUF Q 
    BUUIF "QQMJDBUJPO$BDIF Q

    
    TJOHMFUPOPGUIF DBDIFIPTU Q UIF %PDVNFOU Q GPSUIJTFOUSZ JGUIFSFTUJMMJTPOF BOEBEEJUUP C0B:
    ;8BC5IFEFGBVMUBDUJPOPGUIJTFWFOUNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q UIF
    EJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOHUPUIFVTFSUIBUUIFVTFSBHFOUGBJMFEUPTBWFUIF
    BQQMJDBUJPOGPSPЛJOFVTF

     *G 202746A>D? IBTBO BQQMJDBUJPODBDIF Q XIPTF DPNQMFUFOFTTЙBH Q JT 8=2><?;4C4 UIFO


    EJTDBSEUIBU BQQMJDBUJPODBDIF Q 

     *GBQQSPQSJBUF SFNPWFBOZVTFSJOUFSGBDFJOEJDBUJOHUIBUBOVQEBUFGPSUIJTDBDIFJTJOQSPHSFTT

     -FUUIF TUBUVT Q PG 202746A>D? CF 83;4

     'PSFBDI UBTL Q JO C0B:;8BC RVFVFUIBUUBTLBTBQPTUMPBEUBTL Q 

     "CPSUUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q 

     0UIFSXJTF JG 54C278=6C74<0=854BC GBJMTJOTPNFPUIFSXBZ FHUIFTFSWFSSFUVSOTBOPUIFSYYPSYY


    SFTQPOTF PSFRVJWBMFOU Q PSUIFSFJTB%/4FSSPS PSUIFDPOOFDUJPOUJNFTPVU PSUIFVTFSDBODFMTUIF
    EPXOMPBE PSUIFQBSTFSGPSNBOJGFTUTGBJMTXIFODIFDLJOHUIFNBHJDTJHOBUVSF
    PSJGUIFTFSWFSSFUVSOFEB
    SFEJSFDU PSJGUIFSFTPVSDFJTMBCFMFEXJUIB .*.&UZQF Q PUIFSUIBO UFYUDBDIFNBOJGFTU Q UIFOSVOUIF
    DBDIFGBJMVSFTUFQT Q 

     *GUIJTJTBO VQHSBEFBUUFNQU Q BOEUIFOFXMZEPXOMPBEFE <0=854BC JTCZUFGPSCZUFJEFOUJDBMUPUIF


    NBOJGFTUGPVOEJOUIF OFXFTU Q BQQMJDBUJPODBDIF Q JO 202746A>D? PSUIFTFSWFSSFQPSUFEJUBT/PU
    .PEJИFE PSFRVJWBMFOU Q UIFOSVOUIFTFTVCTUFQT

     -FU 20274 CFUIF OFXFTU Q BQQMJDBUJPODBDIF Q JO 202746A>D?

     -FU C0B:;8BC CFBOFNQUZMJTUPG UBTLT Q 

     'PSFBDIFOUSZJO 202746A>D?T MJTUPGQFOEJOHNBTUFSFOUSJFT Q XBJUGPSUIFSFTPVSDFGPSUIJT


    FOUSZUPIBWFFJUIFSDPNQMFUFMZEPXOMPBEFEPSGBJMFE

    *GUIFEPXOMPBEGBJMFE FHUIFDPOOFDUJPOUJNFTPVU PSUIFVTFSDBODFMTUIFEPXOMPBE


    UIFO
    DSFBUFB UBTL Q UP ИSFBTJNQMFFWFOU Q UIBUJTDBODFMBCMFOBNFE FSSPS Q BUUIF
    "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIF DBDIFIPTU Q UIF %PDVNFOU Q GPSUIJTFOUSZ JGUIFSFTUJMMJT
    POF BOEBEEJUUP C0B:;8BC5IFEFGBVMUBDUJPOPGUIJTFWFOUNVTUCF JGUIFVTFSBHFOU TIPXT
    DBDIJOHQSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOHUPUIFVTFSUIBUUIFVTFS
    BHFOUGBJMFEUPTBWFUIFBQQMJDBUJPOGPSPЛJOFVTF

    0UIFSXJTF BTTPDJBUFUIF %PDVNFOU Q GPSUIJTFOUSZXJUI 20274TUPSFUIFSFTPVSDFGPSUIJTFOUSZJO


    20274 JGJUJTOUBMSFBEZUIFSF BOEDBUFHPSJ[FJUTFOUSZBTB NBTUFSFOUSZ Q *GUIFSFTPVSDFT
    63- Q IBTB GSBHNFOU Q DPNQPOFOU JUNVTUCFSFNPWFEGSPNUIFFOUSZJO 20274 BQQMJDBUJPO
    DBDIFTOFWFSJODMVEFGSBHNFOUJEFOUJИFST
    

    *HM> $00,<:<ABG@KNE>L LN<A:L ":<A> "HGMKHEGH LMHK> :K>B@GHK>=?HKMA>


    INKIHL>LH?MA> :IIEB<:MBHG<:<A>=HPGEH:=IKH<>LL I 

     'PSFBDI DBDIFIPTU Q BTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q JO 202746A>D? DSFBUFB UBTL Q
    UP ИSFBTJNQMFFWFOU Q UIBUJTDBODFMBCMFOBNFE OPVQEBUF Q BUUIF "QQMJDBUJPO$BDIF Q
    TJOHMFUPOPGUIF DBDIFIPTU Q BOEBEEJUUP C0B:;8BC5IFEFGBVMUBDUJPOPGUIFTFFWFOUTNVTUCF
    JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOH
    UPUIFVTFSUIBUUIFBQQMJDBUJPOJTVQUPEBUF

     &NQUZ 202746A>D?T MJTUPGQFOEJOHNBTUFSFOUSJFT Q 

     *GBQQSPQSJBUF SFNPWFBOZVTFSJOUFSGBDFJOEJDBUJOHUIBUBOVQEBUFGPSUIJTDBDIFJTJOQSPHSFTT

     -FUUIF TUBUVT Q PG 202746A>D? CF 83;4

     'PSFBDI UBTL Q JO C0B:;8BC RVFVFUIBUUBTLBTBQPTUMPBEUBTL Q 

     "CPSUUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q 

     -FU =4F20274 CFBOFXMZDSFBUFE BQQMJDBUJPODBDIF Q JO 202746A>D?4FUJUT DPNQMFUFOFTTЙBH Q UP


    8=2><?;4C4

     'PSFBDIFOUSZJO 202746A>D?T MJTUPGQFOEJOHNBTUFSFOUSJFT Q BTTPDJBUFUIF %PDVNFOU Q GPSUIJTFOUSZ


    XJUI =4F20274

    
     4FUUIF TUBUVT Q PG 202746A>D? UP 3>F=;>038=6

     'PSFBDI DBDIFIPTU Q BTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q JO 202746A>D? RVFVFBQPTUMPBEUBTL Q
    UP ИSFBTJNQMFFWFOU Q UIBUJTDBODFMBCMFOBNFE EPXOMPBEJOH Q BUUIF "QQMJDBUJPO$BDIF Q TJOHMFUPO
    PGUIF DBDIFIPTU Q 5IFEFGBVMUBDUJPOPGUIFTFFWFOUTNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOH
    QSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOHUPUIFVTFSUIBUBOFXWFSTJPOJTCFJOH
    EPXOMPBEFE

     -FU P;4;8BC CFBOFNQUZMJTUPG63-TXJUIЙBHT

     "EEBMMUIF63-TJOUIFMJTUPG FYQMJDJUFOUSJFT Q PCUBJOFECZQBSTJOH <0=854BC UP P;4;8BC FBDIЙBHHFEXJUI


    FYQMJDJUFOUSZ

     "EEBMMUIF63-TJOUIFMJTUPG GBMMCBDLFOUSJFT Q PCUBJOFECZQBSTJOH <0=854BC UP P;4;8BC FBDIЙBHHFEXJUI


    GBMMCBDLFOUSZ

     *GUIJTJTBO VQHSBEFBUUFNQU Q UIFOBEEBMMUIF63-TPG NBTUFSFOUSJFT Q JOUIF OFXFTU Q BQQMJDBUJPO
    DBDIF Q JO 202746A>D? XIPTF DPNQMFUFOFTTЙBH Q JT 2><?;4C4 UP P;4;8BC FBDIЙBHHFEXJUINBTUFS
    FOUSZ

     *GBOZ63-JTJO P;4;8BC NPSFUIBOPODF UIFONFSHFUIFFOUSJFTJOUPPOFFOUSZGPSUIBU63- UIBUFOUSZIBWJOH


    BMMUIFЙBHTUIBUUIFPSJHJOBMFOUSJFTIBE

     'PSFBDI63-JO P;4;8BC SVOUIFGPMMPXJOHTUFQT5IFTFTUFQTNBZCFSVOJOQBSBMMFMGPSUXPPSNPSFPGUIF


    63-TBUBUJNF

     *GUIFSFTPVSDF63-CFJOHQSPDFTTFEXBTЙBHHFEBTOFJUIFSBOFYQMJDJUFOUSZOPSPSBGBMMCBDL
    FOUSZ UIFOUIFVTFSBHFOUNBZTLJQUIJT63-

    *HM> 0ABLBLBGM>G=>=MH:EEHPNL>K:@>GMLMH>QIBK>K>LHNK<>LGHMEBLM>=BGMA>
    F:GB?>LM?KHFMA><:<A> #>G>K:EER BFIE>F>GMHKL:K>NK@>=MHNL>:G:IIKH:<A
    MA:M>QIBK>LE>LL>K
    NL>=K>LHNK<>L[KLM

     'PSFBDI DBDIFIPTU Q BTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q JO 202746A>D? RVFVFBQPTUMPBE


    UBTL Q UPИSFBOFWFOUXJUIUIFOBNF QSPHSFTT Q XIJDIEPFTOPUCVCCMF XIJDIJTDBODFMBCMF
    BOEXIJDIVTFTUIF 1SPHSFTT&WFOU JOUFSGBDF BUUIF "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIF DBDIF
    IPTU Q 5IF MFOHUI$PNQVUBCMF BUUSJCVUFNVTUCFTFUUPUSVF UIF UPUBM BUUSJCVUFNVTUCFTFUUP
    UIFOVNCFSPGИMFTJO P;4;8BC BOEUIF MPBEFE BUUSJCVUFNVTUCFTFUUPUIFOVNCFSPGOVNCFSPG
    ИMFTJO P;4;8BC UIBUIBWFCFFOFJUIFSEPXOMPBEFEPSTLJQQFETPGBS5IFEFGBVMUBDUJPOPGUIFTF
    FWFOUTNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFS
    JOUFSGBDFJOEJDBUJOHUPUIFVTFSUIBUBИMFJTCFJOHEPXOMPBEFEJOQSFQBSBUJPOGPSVQEBUJOHUIF
    BQQMJDBUJPO <130(3&44> Q

     'FUDI Q UIFSFTPVSDF GSPNUIF PSJHJO Q PGUIF 63- Q <0=854BC+("*GUIJTJTBO VQHSBEF
    BUUFNQU Q UIFOVTFUIF OFXFTU Q BQQMJDBUJPODBDIF Q JO 202746A>D? BTBO)551DBDIF BOE
    IPOPS)551DBDIJOHTFNBOUJDT TVDIBTFYQJSBUJPO &5BHT BOETPGPSUI
    XJUISFTQFDUUPUIBUDBDIF
    6TFSBHFOUTNBZBMTPIBWFPUIFSDBDIFTJOQMBDFUIBUBSFBMTPIPOPSFE

    *HM> %?MA>K>LHNK<>BGJN>LMBHGBL:EK>:=R;>BG@=HPGEH:=>=?HKHMA>KK>:LHGL
    MA>GMA>>QBLMBG@=HPGEH:=IKH<>LL<:GLHF>MBF>L;>NL>=?HKMA>INKIHL>LH?
    MABLLM>I :L=>[G>=;RMA> ?>M<ABG@ I :E@HKBMAF

    "OFYBNQMFPGBSFTPVSDFUIBUNJHIUBMSFBEZCFCFJOHEPXOMPBEFEJTBMBSHFJNBHFPOB
    8FCQBHFUIBUJTCFJOHTFFOGPSUIFИSTUUJNF5IFJNBHFXPVMEHFUEPXOMPBEFEUPTBUJTGZ
    UIF JNH Q FMFNFOUPOUIFQBHF BTXFMMBTCFJOHMJTUFEJOUIFDBDIFNBOJGFTU"DDPSEJOHUP
    UIFSVMFTGPS GFUDIJOH Q UIBUJNBHFPOMZOFFECFEPXOMPBEFEPODF BOEJUDBOCFVTFECPUI
    GPSUIFDBDIFBOEGPSUIFSFOEFSFE8FCQBHF

     *GUIFQSFWJPVTTUFQGBJMT FHUIFTFSWFSSFUVSOTBYYPSYYSFTQPOTF PSFRVJWBMFOU Q PSUIFSFJT


    B%/4FSSPS PSUIFDPOOFDUJPOUJNFTPVU PSUIFVTFSDBODFMTUIFEPXOMPBE
    PSJGUIFTFSWFS
    SFUVSOFEBSFEJSFDU UIFOSVOUIFИSTUBQQSPQSJBUFTUFQGSPNUIFGPMMPXJOHMJTU

    X %@NB?1.(<?CHAJLI=?MM?>Q;M^;AA?>;M;H?RJFC=CN?HNLSIL;@;FF<;=E?HNLS
    3VOUIF DBDIFGBJMVSFTUFQT Q 

    
    *HM> .>=BK><ML:K>?:M:E;><:NL>MA>R:K>>BMA>KBG=B<:MBO>H?:G>MPHKD
    IKH;E>F> @ :<:IMBO>IHKM:EHKPHNE=:EEHPK>LHNK<>LMH;>:==>=MH
    MA><:<A>NG=>K1.(LMA:M=BZ>K?KHF:GR1.(MA:MMA>G>MPHKDBG@
    FH=>EPBEE:EEHP:<<>LLMH E>:OBG@HKIA:G>GMKB>LHKPHNE=:EEHP
    K>LHNK<>LMH;>LMHK>=NG=>K1.(L=BZ>K>GMMA:GMA>BKMKN>1.(L EEH?
    MA>L>LBMN:MBHGL:K>;:=

    J
    X %@NB??LLILQ;M;IL$00,L?MJIHM? IL?KOCP;F?HN
    4LJQUIJTSFTPVSDF*UJTESPQQFEGSPNUIFDBDIF

    X +NB?LQCM?
    $PQZUIFSFTPVSDFBOEJUTNFUBEBUBGSPNUIF OFXFTU Q BQQMJDBUJPODBDIF Q JO 20274
    6A>D? XIPTF DPNQMFUFOFTTЙBH Q JT 2><?;4C4 BOEBDUBTJGUIBUXBTUIFGFUDIFE
    SFTPVSDF JHOPSJOHUIFSFTPVSDFPCUBJOFEGSPNUIFOFUXPSL

    6TFSBHFOUTNBZXBSOUIFVTFSPGUIFTFFSSPSTBTBOBJEUPEFWFMPQNFOU

    *HM> 0A>L>KNE>LF:D>>KKHKL?HKK>LHNK<>LEBLM>=BGMA>F:GB?>LM?:M:E PABE>


    F:DBG@BMIHLLB;E>?HKHMA>KK>LHNK<>LMH;>K>FHO>=?KHF<:<A>LPA>GMA>R:K>
    K>FHO>=?KHFMA>L>KO>K PBMAHNM>KKHKL :G=F:DBG@GHG
    F:GB?>LMK>LHNK<>L
    LNKOBO>L>KO>K
    LB=>>KKHKL

     0UIFSXJTF UIFGFUDIJOHTVDDFFEFE4UPSFUIFSFTPVSDFJOUIF =4F20274

     *GUIF63-CFJOHQSPDFTTFEXBTЙBHHFEBTBOFYQMJDJUFOUSZJO P;4;8BC UIFODBUFHPSJ[FUIFFOUSZ


    BTBO FYQMJDJUFOUSZ Q 

     *GUIF63-CFJOHQSPDFTTFEXBTЙBHHFEBTBGBMMCBDLFOUSZJO P;4;8BC UIFODBUFHPSJ[FUIFFOUSZ


    BTB GBMMCBDLFOUSZ Q 

     *GUIF63-CFJOHQSPDFTTFEXBTЙBHHFEBTBONBTUFSFOUSZJO P;4;8BC UIFODBUFHPSJ[FUIFFOUSZ


    BTB NBTUFSFOUSZ Q 

     "TBOPQUJNJ[BUJPO JGUIFSFTPVSDFJTBO)5.-PS9.-ИMFXIPTFSPPUFMFNFOUJTBO IUNM Q


    FMFNFOUXJUIB NBOJGFTU Q BUUSJCVUFXIPTFWBMVFEPFTOUNBUDIUIFNBOJGFTU63-PGUIF
    BQQMJDBUJPODBDIFCFJOHQSPDFTTFE UIFOUIFVTFSBHFOUTIPVMENBSLUIFFOUSZBTCFJOH GPSFJHO Q 

     'PSFBDI DBDIFIPTU Q BTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q JO 202746A>D? RVFVFBQPTUMPBEUBTL Q
    UPИSFBOFWFOUXJUIUIFOBNF QSPHSFTT Q XIJDIEPFTOPUCVCCMF XIJDIJTDBODFMBCMF BOEXIJDIVTFTUIF
    1SPHSFTT&WFOU JOUFSGBDF BUUIF "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIF DBDIFIPTU Q 5IF
    MFOHUI$PNQVUBCMF BUUSJCVUFNVTUCFTFUUPUSVF UIF UPUBM BOEUIF MPBEFE BUUSJCVUFTNVTUCFTFUUPUIF
    OVNCFSPGOVNCFSPGИMFTJO P;4;8BC5IFEFGBVMUBDUJPOPGUIFTFFWFOUTNVTUCF JGUIFVTFSBHFOU TIPXT
    DBDIJOHQSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOHUPUIFVTFSUIBUBMMUIFИMFTIBWF
    CFFOEPXOMPBEFE <130(3&44> Q

     4UPSFUIFMJTUPG GBMMCBDLOBNFTQBDFT Q BOEUIF63-TPGUIF GBMMCBDLFOUSJFT Q UIBUUIFZNBQUP JO =4F
    20274

     4UPSFUIF63-TUIBUGPSNUIFOFX POMJOFXIJUFMJTU Q JO =4F20274

     4UPSFUIFWBMVFPGUIFOFX POMJOFXIJUFMJTUXJMEDBSEЙBH Q JO =4F20274

     'PSFBDIFOUSZJO 202746A>D?T MJTUPGQFOEJOHNBTUFSFOUSJFT Q XBJUGPSUIFSFTPVSDFGPSUIJTFOUSZUPIBWF


    FJUIFSDPNQMFUFMZEPXOMPBEFEPSGBJMFE

    *GUIFEPXOMPBEGBJMFE FHUIFDPOOFDUJPOUJNFTPVU PSUIFVTFSDBODFMTUIFEPXOMPBE


    UIFOSVOUIFTF
    TVCTUFQT

     6OBTTPDJBUFUIF %PDVNFOU Q GPSUIJTFOUSZGSPN =4F20274

     2VFVFBQPTUMPBEUBTL Q UP ИSFBTJNQMFFWFOU Q UIBUJTDBODFMBCMFOBNFE FSSPS Q BUUIF


    "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIF %PDVNFOU Q GPSUIJTFOUSZ JGUIFSFTUJMMJTPOF5IFEFGBVMU
    BDUJPOPGUIJTFWFOUNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q UIFEJTQMBZPGTPNFTPSU
    PGVTFSJOUFSGBDFJOEJDBUJOHUPUIFVTFSUIBUUIFVTFSBHFOUGBJMFEUPTBWFUIFBQQMJDBUJPOGPSPЛJOF
    VTF

    
     *GUIJTJTB DBDIFBUUFNQU Q BOEUIJTFOUSZJTUIFMBTUFOUSZJO 202746A>D?T MJTUPGQFOEJOHNBTUFS
    FOUSJFT Q UIFOSVOUIFTFGVSUIFSTVCTUFQT

     %JTDBSE 202746A>D? BOEJUTPOMZ BQQMJDBUJPODBDIF Q =4F20274

     *GBQQSPQSJBUF SFNPWFBOZVTFSJOUFSGBDFJOEJDBUJOHUIBUBOVQEBUFGPSUIJTDBDIFJTJO
    QSPHSFTT

     "CPSUUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q 

     0UIFSXJTF SFNPWFUIJTFOUSZGSPN 202746A>D?T MJTUPGQFOEJOHNBTUFSFOUSJFT Q 

    0UIFSXJTF TUPSFUIFSFTPVSDFGPSUIJTFOUSZJO =4F20274 JGJUJTOUBMSFBEZUIFSF BOEDBUFHPSJ[FJUTFOUSZBT


    B NBTUFSFOUSZ Q 

     'FUDI Q UIFSFTPVSDFGSPN <0=854BC+(" BHBJO BOEMFU B42>=3<0=854BC CFUIBUSFTPVSDF

     *GUIFQSFWJPVTTUFQGBJMFEGPSBOZSFBTPO PSJGUIFGFUDIJOHBUUFNQUJOWPMWFEBSFEJSFDU PSJG B42>=3<0=854BC


    BOE <0=854BC BSFOPUCZUFGPSCZUFJEFOUJDBM UIFOTDIFEVMFBSFSVOPGUIFFOUJSFBMHPSJUINXJUIUIFTBNF
    QBSBNFUFSTBGUFSBTIPSUEFMBZ BOESVOUIF DBDIFGBJMVSFTUFQT Q 

     0UIFSXJTF TUPSF <0=854BC JO =4F20274 JGJUTOPUUIFSFBMSFBEZ BOEDBUFHPSJ[FJUTFOUSZBT UIFNBOJGFTU Q 

     4FUUIF DPNQMFUFOFTTЙBH Q PG =4F20274 UP 2><?;4C4

     -FU C0B:;8BC CFBOFNQUZMJTUPG UBTLT Q 

     *GUIJTJTB DBDIFBUUFNQU Q UIFOGPSFBDI DBDIFIPTU Q BTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q JO 20274
    6A>D? DSFBUFB UBTL Q UP ИSFBTJNQMFFWFOU Q UIBUJTDBODFMBCMFOBNFE DBDIFE Q BUUIF
    "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIF DBDIFIPTU Q BOEBEEJUUP C0B:;8BC5IFEFGBVMUBDUJPOPGUIFTF
    FWFOUTNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDF
    JOEJDBUJOHUPUIFVTFSUIBUUIFBQQMJDBUJPOIBTCFFODBDIFEBOEUIBUUIFZDBOOPXVTFJUPЛJOF

    0UIFSXJTF JUJTBO VQHSBEFBUUFNQU Q 'PSFBDI DBDIFIPTU Q BTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q JO
    202746A>D? DSFBUFB UBTL Q UP ИSFBTJNQMFFWFOU Q UIBUJTDBODFMBCMFOBNFE VQEBUFSFBEZ Q BUUIF
    "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIF DBDIFIPTU Q BOEBEEJUUP C0B:;8BC5IFEFGBVMUBDUJPOPGUIFTF
    FWFOUTNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDF
    JOEJDBUJOHUPUIFVTFSUIBUBOFXWFSTJPOJTBWBJMBCMFBOEUIBUUIFZDBOBDUJWBUFJUCZSFMPBEJOHUIFQBHF

     *GBQQSPQSJBUF SFNPWFBOZVTFSJOUFSGBDFJOEJDBUJOHUIBUBOVQEBUFGPSUIJTDBDIFJTJOQSPHSFTT

     4FUUIF VQEBUFTUBUVT Q PG 202746A>D? UP 83;4

     'PSFBDI UBTL Q JO C0B:;8BC RVFVFUIBUUBTLBTBQPTUPBEUBTL Q 

    5IF =;=B?@;CFOL?MN?JM BSFBTGPMMPXT

     -FU C0B:;8BC CFBOFNQUZMJTUPG UBTLT Q 

     'PSFBDIFOUSZJO 202746A>D?T MJTUPGQFOEJOHNBTUFSFOUSJFT Q SVOUIFGPMMPXJOHGVSUIFSTVCTUFQT5IFTF


    TUFQTNBZCFSVOJOQBSBMMFMGPSUXPPSNPSFFOUSJFTBUBUJNF

     8BJUGPSUIFSFTPVSDFGPSUIJTFOUSZUPIBWFFJUIFSDPNQMFUFMZEPXOMPBEFEPSGBJMFE

     6OBTTPDJBUFUIF %PDVNFOU Q GPSUIJTFOUSZGSPNJUT BQQMJDBUJPODBDIF Q JGJUIBTPOF

     $SFBUFB UBTL Q UP ИSFBTJNQMFFWFOU Q UIBUJTDBODFMBCMFOBNFE FSSPS Q BUUIF


    "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIF %PDVNFOU Q GPSUIJTFOUSZ JGUIFSFTUJMMJTPOF BOEBEEJUUP
    C0B:;8BC5IFEFGBVMUBDUJPOPGUIFTFFWFOUTNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOHQSPHSFTT Q
    UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOHUPUIFVTFSUIBUUIFVTFSBHFOUGBJMFEUPTBWF
    UIFBQQMJDBUJPOGPSPЛJOFVTF

     'PSFBDI DBDIFIPTU Q TUJMMBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q JO 202746A>D? DSFBUFB UBTL Q UP ИSF
    BTJNQMFFWFOU Q UIBUJTDBODFMBCMFOBNFE FSSPS Q BUUIF "QQMJDBUJPO$BDIF Q TJOHMFUPOPGUIF DBDIF
    IPTU Q BOEBEEJUUP C0B:;8BC5IFEFGBVMUBDUJPOPGUIFTFFWFOUTNVTUCF JGUIFVTFSBHFOU TIPXTDBDIJOH
    QSPHSFTT Q UIFEJTQMBZPGTPNFTPSUPGVTFSJOUFSGBDFJOEJDBUJOHUPUIFVTFSUIBUUIFVTFSBHFOUGBJMFEUP
    TBWFUIFBQQMJDBUJPOGPSPЛJOFVTF

     &NQUZ 202746A>D?T MJTUPGQFOEJOHNBTUFSFOUSJFT Q 

    
     *G 202746A>D? IBTBO BQQMJDBUJPODBDIF Q XIPTF DPNQMFUFOFTTЙBH Q JT 8=2><?;4C4 UIFOEJTDBSEUIBU
    BQQMJDBUJPODBDIF Q 

     *GBQQSPQSJBUF SFNPWFBOZVTFSJOUFSGBDFJOEJDBUJOHUIBUBOVQEBUFGPSUIJTDBDIFJTJOQSPHSFTT

     -FUUIF TUBUVT Q PG 202746A>D? CF 83;4

     *GUIJTXBTB DBDIFBUUFNQU Q EJTDBSE 202746A>D? BMUPHFUIFS

     'PSFBDI UBTL Q JO C0B:;8BC RVFVFUIBUUBTLBTBQPTUMPBEUBTL Q 

     "CPSUUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q 

    "UUFNQUTUP GFUDI Q SFTPVSDFTBTQBSUPGUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q NBZCFEPOFXJUIDBDIF


    EFGFBUJOHTFNBOUJDT UPBWPJEQSPCMFNTXJUITUBMFPSJODPOTJTUFOUJOUFSNFEJBSZDBDIFT

    6TFSBHFOUTNBZJOWPLFUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q JOUIFCBDLHSPVOE GPSBOZ BQQMJDBUJPODBDIF Q


    BUBOZUJNF XJUIOP DBDIFIPTU Q
    5IJTBMMPXTVTFSBHFOUTUPLFFQDBDIFTQSJNFEBOEUPVQEBUFDBDIFTFWFOCFGPSF
    UIFVTFSWJTJUTBTJUF

    &BDI %PDVNFOU Q IBTBMJTUPG J?H>CHA;JJFC=;NCIH=;=B?>IQHFI;>JLI=?MMN;MEM UIBUJTVTFEUPEFMBZFWFOUT


    ИSFECZUIFBMHPSJUINBCPWFVOUJMUIFEPDVNFOUT MPBE FWFOUIBTИSFE8IFOUIF %PDVNFOU Q JTDSFBUFE UIFMJTUNVTU
    CFFNQUZ

    8IFOUIFTUFQTBCPWFTBZUP KO?O?;JIMN FI;>N;ME C0B: XIFSF C0B: JTB UBTL Q UIBUEJTQBUDIFTBOFWFOUPOB
    UBSHFU "QQMJDBUJPO$BDIF Q PCKFDU C0A64C UIFVTFSBHFOUNVTUSVOUIFBQQSPQSJBUFTUFQTGSPNUIFGPMMPXJOHMJTU

    %@ M:K@>MM "J>PH@IO K B;M =IGJF?N?FSFI;>?> J


    2VFVF Q UIFUBTL C0B:

    +NB?LQCM?
    "EE C0B: UP C0A64CT %PDVNFOU Q TMJTUPG QFOEJOHBQQMJDBUJPODBDIFEPXOMPBEQSPDFTTUBTLT Q 

    5IF UBTLTPVSDF Q GPSUIFTF UBTLT Q JTUIF OFUXPSLJOHUBTLTPVSDF Q 

       0B?;JJFC=;NCIH=;=B?M?F?=NCIH;FAILCNBG

    8IFOUIF ;JJFC=;NCIH=;=B?M?F?=NCIH;FAILCNBG BMHPSJUINJTJOWPLFEXJUIB %PDVNFOU Q 3>2D<4=C BOEPQUJPOBMMZ


    BNBOJGFTU 63- Q <0=854BC+(" UIFVTFSBHFOUNVTUSVOUIFИSTUBQQMJDBCMFTFUPGTUFQTGSPNUIFGPMMPXJOHMJTU
    J
    X %@NB?L?CM; F:GB?>LM1.(
    ;H> =H<NF>GM Q;MFI;>?>@LIG;H ;JJFC=;NCIH=;=B?
    ;H>NB?1.(I@
    J J
    NB? G;HC@?MN I@NB;N=;=B?M ;JJFC=;NCIH=;=B?ALIOJ CM GHM NB?M;G?;M F:GB?>LM1.(
    .BSLUIFFOUSZGPSUIFSFTPVSDFGSPNXIJDI 3>2D<4=C XBTUBLFOJOUIF BQQMJDBUJPODBDIF Q GSPNXIJDIJU
    XBTMPBEFEBT GPSFJHO Q 

    3FTUBSUUIFDVSSFOUOBWJHBUJPOGSPNUIFUPQPGUIF OBWJHBUJPOBMHPSJUIN Q VOEPJOHBOZDIBOHFTUIBUXFSF


    NBEFBTQBSUPGUIFJOJUJBMMPBE DIBOHFTDBOCFBWPJEFECZFOTVSJOHUIBUUIFTUFQUP VQEBUFUIFTFTTJPO
    IJTUPSZXJUIUIFOFXQBHF Q JTPOMZFWFSDPNQMFUFE 05C4A UIJT BQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN Q JT
    SVO UIPVHIUIJTJTOPUSFRVJSFE
    

    *HM> 0A>G:OB@:MBHGPBEEGHMK>LNEMBGMA>L:F>K>LHNK<>;>BG@EH:=>= ;><:NL>?HK>B@G


    >GMKB>L:K>G>O>KIB<D>==NKBG@G:OB@:MBHG

    6TFSBHFOUTNBZOPUJGZUIFVTFSPGUIFJODPOTJTUFODZCFUXFFOUIFDBDIFNBOJGFTUBOEUIFEPDVNFOUTPXO
    NFUBEBUB UPBJEJOBQQMJDBUJPOEFWFMPQNFOU
    J
    X %@ =H<NF>GM Q;MFI;>?>@LIG;H ;JJFC=;NCIH=;=B?
    "TTPDJBUF 3>2D<4=C XJUIUIF BQQMJDBUJPODBDIF Q GSPNXIJDIJUXBTMPBEFE*OWPLF JOUIFCBDLHSPVOE UIF
    BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q GPSUIBU BQQMJDBUJPODBDIF Q T BQQMJDBUJPODBDIFHSPVQ Q XJUI
    3>2D<4=C BTUIF DBDIFIPTU Q 
    J
    X %@ =H<NF>GM Q;MFI;>?>OMCHA$00,#!0 IL?KOCP;F?HN
    ;H>
    NB?L?CM; F:GB?>LM1.(
    ;H> F:GB?>LM
    J
    1.( B;MNB? M;G?ILCACH ;M =H<NF>GM
    *OWPLF JOUIFCBDLHSPVOE UIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q GPS <0=854BC+(" XJUI 3>2D<4=C BT
    UIF DBDIFIPTU Q BOEXJUIUIFSFTPVSDFGSPNXIJDI 3>2D<4=C XBTQBSTFEBTUIF NBTUFS Q SFTPVSDF

    
    X +NB?LQCM?
    5IF %PDVNFOU Q JTOPUBTTPDJBUFEXJUIBOZ BQQMJDBUJPODBDIF Q 

    *GUIFSFXBTB <0=854BC+(" UIFVTFSBHFOUNBZSFQPSUUPUIFVTFSUIBUJUXBTJHOPSFE UPBJEJOBQQMJDBUJPO


    EFWFMPQNFOU

       B;HA?MNINB?H?NQILECHAGI>?F

    8IFOB DBDIFIPTU Q JTBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q XIPTF DPNQMFUFOFTTЙBH Q JT 2><?;4C4 BOZBOEBMM
    MPBETGPSSFTPVSDFTSFMBUFEUPUIBU DBDIFIPTU Q PUIFSUIBOUIPTFGPS DIJMECSPXTJOHDPOUFYUT Q NVTUHPUISPVHIUIF
    GPMMPXJOHTUFQTJOTUFBEPGJNNFEJBUFMZJOWPLJOHUIFNFDIBOJTNTBQQSPQSJBUFUPUIBUSFTPVSDFTTDIFNF

     *GUIFSFTPVSDFJTOPUUPCFGFUDIFEVTJOHUIF)551(&5NFDIBOJTN PSFRVJWBMFOU Q PSJGJUT 63- Q IBTB


    EJЗFSFOU TDIFNF Q DPNQPOFOUUIBOUIF BQQMJDBUJPODBDIF Q T NBOJGFTU Q UIFO GFUDI Q UIFSFTPVSDF
    OPSNBMMZBOEBCPSUUIFTFTUFQT

     *GUIFSFTPVSDFT63-JT BNBTUFSFOUSZ Q UIFNBOJGFTU Q BOFYQMJDJUFOUSZ Q PS BGBMMCBDLFOUSZ Q JOUIF
    BQQMJDBUJPODBDIF Q UIFOHFUUIFSFTPVSDFGSPNUIFDBDIF JOTUFBEPGGFUDIJOHJU
    BOEBCPSUUIFTFTUFQT

     *GUIFSFJTBOFOUSZJOUIF BQQMJDBUJPODBDIF Q T POMJOFXIJUFMJTU Q UIBUIBTUIF TBNFPSJHJO Q BTUIF


    SFTPVSDFT63-BOEUIBUJTB QSFИYNBUDI Q GPSUIFSFTPVSDFT63- UIFO GFUDI Q UIFSFTPVSDFOPSNBMMZBOE
    BCPSUUIFTFTUFQT

     *GUIFSFTPVSDFT63-IBTUIF TBNFPSJHJO Q BTUIFNBOJGFTUT63- BOEUIFSFJTB GBMMCBDLOBNFTQBDF Q 5


    JOUIF BQQMJDBUJPODBDIF Q UIBUJTB QSFИYNBUDI Q GPSUIFSFTPVSDFT63- UIFO

    'FUDI Q UIFSFTPVSDFOPSNBMMZ*GUIJTSFTVMUTJOBSFEJSFDUUPBSFTPVSDFXJUIBOPUIFS PSJHJO Q JOEJDBUJWFPG


    BDBQUJWFQPSUBM
    PSBYYPSYYTUBUVTDPEF PSFRVJWBMFOU Q PSJGUIFSFXFSFOFUXPSLFSSPST CVUOPUJGUIF
    VTFSDBODFMFEUIFEPXOMPBE
    UIFOJOTUFBEHFU GSPNUIFDBDIF UIFSFTPVSDFPGUIF GBMMCBDLFOUSZ Q
    DPSSFTQPOEJOHUPUIF GBMMCBDLOBNFTQBDF Q 5"CPSUUIFTFTUFQT

     *GUIF BQQMJDBUJPODBDIF Q T POMJOFXIJUFMJTUXJMEDBSEЙBH Q JT >?4= UIFO GFUDI Q UIFSFTPVSDFOPSNBMMZ
    BOEBCPSUUIFTFTUFQT

     'BJMUIFSFTPVSDFMPBEBTJGUIFSFIBECFFOBHFOFSJDOFUXPSLFSSPS

    *HM> 0A>:;HO>:E@HKBMAF>GLNK>LMA:MLHEHG@:LMA> HGEBG>PABM>EBLMPBE=<:K=\:@ I BL


    ;EH<DBG@ K>LHNK<>LMA:M:K>GHMIK>L>GMBGMA> F:GB?>LM I PBEE:EP:RL?:BEMHEH:=:ME>:LM :?M>K
    MA> :IIEB<:MBHG<:<A> I A:L;>>GIKBF>=MA>[KLMMBF> F:DBG@MA>M>LMBG@H?H^BG>
    :IIEB<:MBHGLLBFIE>K

       !RJCLCHA;JJFC=;NCIH=;=B?M

    "TBHFOFSBMSVMF VTFSBHFOUTTIPVMEOPUFYQJSFBQQMJDBUJPODBDIFT FYDFQUPOSFRVFTUGSPNUIFVTFS PSBGUFSIBWJOH


    CFFOMFGUVOVTFEGPSBOFYUFOEFEQFSJPEPGUJNF

    "QQMJDBUJPODBDIFTBOEDPPLJFTIBWFTJNJMBSJNQMJDBUJPOTXJUISFTQFDUUPQSJWBDZ FHJGUIFTJUFDBOJEFOUJGZUIFVTFS
    XIFOQSPWJEJOHUIFDBDIF JUDBOTUPSFEBUBJOUIFDBDIFUIBUDBOCFVTFEGPSDPPLJFSFTVSSFDUJPO
    *NQMFNFOUPSTBSF
    UIFSFGPSFFODPVSBHFEUPFYQPTFBQQMJDBUJPODBDIFTJOBNBOOFSSFMBUFEUP)551DPPLJFT BMMPXJOHDBDIFTUPCF
    FYQVOHFEUPHFUIFSXJUIDPPLJFTBOEPUIFSPSJHJOTQFDJИDEBUB

    'PSFYBNQMF BVTFSBHFOUDPVMEIBWFBEFMFUFTJUFTQFDJИDEBUBGFBUVSFUIBUDMFBSTBMMDPPLJFT BQQMJDBUJPO


    DBDIFT MPDBMTUPSBHF EBUBCBTFT FUD GSPNBOPSJHJOBMMBUPODF

       JJFC=;NCIH=;=B?,%

    JOUFSGBDF KKGD><ODJI!<>C@ \

     VQEBUFTUBUVT
    DPOTUVOTJHOFETIPSU 6/$"$)&% 
    DPOTUVOTJHOFETIPSU *%-& 
    DPOTUVOTJHOFETIPSU $)&$,*/( 
    DPOTUVOTJHOFETIPSU %08/-0"%*/( 
    DPOTUVOTJHOFETIPSU 61%"5&3&"%: 

    
    DPOTUVOTJHOFETIPSU 0#40-&5& 
    SFBEPOMZBUUSJCVUFVOTJHOFETIPSU TUBUVT

    VQEBUFT
    WPJE VQEBUF
    
    WPJE TXBQ$BDIF
    

    FWFOUT
    BUUSJCVUF 'VODUJPO PODIFDLJOH
    BUUSJCVUF 'VODUJPO POFSSPS
    BUUSJCVUF 'VODUJPO POOPVQEBUF
    BUUSJCVUF 'VODUJPO POEPXOMPBEJOH
    BUUSJCVUF 'VODUJPO POQSPHSFTT
    BUUSJCVUF 'VODUJPO POVQEBUFSFBEZ
    BUUSJCVUF 'VODUJPO PODBDIFE
    BUUSJCVUF 'VODUJPO POPCTPMFUF
    ^
    "QQMJDBUJPO$BDIF JNQMFNFOUT &WFOU5BSHFU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <:<A>  PBG=HP <KKGD><ODJI!<>C@ K
    *OBXJOEPX
    3FUVSOTUIF "QQMJDBUJPO$BDIF Q PCKFDUUIBUBQQMJFTUPUIF BDUJWFEPDVNFOU Q PGUIBU
    8JOEPX Q 

    <:<A>  L>E? <KKGD><ODJI!<>C@ K


    *OBTIBSFEXPSLFS
    3FUVSOTUIF "QQMJDBUJPO$BDIF Q PCKFDUUIBUBQQMJFTUPUIFDVSSFOUTIBSFEXPSLFS
    <8&#803,&34> Q

    <:<A> NO<OPN K


    3FUVSOTUIFDVSSFOUTUBUVTPGUIFBQQMJDBUJPODBDIF BTHJWFOCZUIFDPOTUBOUTEFИOFECFMPX

    <:<A> PK?<O@ K 


    *OWPLFTUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q 
    5ISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIFSFJTOPBQQMJDBUJPODBDIFUPVQEBUF

    <:<A> NR<K!<>C@ K 


    4XJUDIFTUPUIFNPTUSFDFOUBQQMJDBUJPODBDIF JGUIFSFJTBOFXFSPOF*GUIFSFJTOU UISPXTBO
    */7"-*%@45"5&@&33 Q FYDFQUJPO
    5IJTEPFTOPUDBVTFQSFWJPVTMZMPBEFESFTPVSDFTUPCFSFMPBEFEGPSFYBNQMF JNBHFTEPOPUTVEEFOMZHFU
    SFMPBEFEBOETUZMFTIFFUTBOETDSJQUTEPOPUHFUSFQBSTFEPSSFFWBMVBUFE5IFPOMZDIBOHFJTUIBU
    TVCTFRVFOUSFRVFTUTGPSDBDIFESFTPVSDFTXJMMPCUBJOUIFOFXFSDPQJFT

    5IFSFJTBPOFUPPOFNBQQJOHGSPN DBDIFIPTUT Q UP "QQMJDBUJPO$BDIF Q PCKFDUT5IF <KKGD><ODJI!<>C@


    BUUSJCVUFPO 8JOEPX Q PCKFDUTNVTUSFUVSOUIF "QQMJDBUJPO$BDIF Q PCKFDUBTTPDJBUFEXJUIUIF 8JOEPX Q PCKFDUT
    BDUJWFEPDVNFOU Q 5IF <KKGD><ODJI!<>C@ BUUSJCVUFPO 4IBSFE8PSLFS(MPCBM4DPQF PCKFDUTNVTUSFUVSOUIF
    "QQMJDBUJPO$BDIF Q PCKFDUBTTPDJBUFEXJUIUIFXPSLFS <8&#803,&34> Q

    *HM>  5BG=HP I HK 1A:K>=5HKD>K&EH;:E1<HI> H;C><MA:L:G:LLH<B:M>= IIEB<:MBHG":<A> I H;C><M


    >O>GB?MA:M <:<A>AHLM I A:LGH:<MN:E :IIEB<:MBHG<:<A> I

    5IF NO<OPN BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFDVSSFOUTUBUFPGUIF BQQMJDBUJPODBDIF Q UIBUUIF


    "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q JTBTTPDJBUFEXJUI JGBOZ5IJTNVTUCFUIFBQQSPQSJBUFWBMVFGSPNUIF
    GPMMPXJOHMJTU

    3," "'$# HOG?LC=P;FO?


    5IF "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q JTOPUBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q BUUIJTUJNF

    
    (#*$ HOG?LC=P;FO?
    5IF "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q JTBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q XIPTF BQQMJDBUJPO
    DBDIFHSPVQ Q T VQEBUFTUBUVT Q JT 83;4 BOEUIBU BQQMJDBUJPODBDIF Q JTUIF OFXFTU Q DBDIFJOJUT BQQMJDBUJPO
    DBDIFHSPVQ Q BOEUIF BQQMJDBUJPODBDIFHSPVQ Q JTOPUNBSLFEBT PCTPMFUF Q 

    "'$")(,& HOG?LC=P;FO?
    5IF "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q JTBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q XIPTF BQQMJDBUJPO
    DBDIFHSPVQ Q T VQEBUFTUBUVT Q JT 2742:8=6

    #-5,*- #(,& HOG?LC=P;FO?


    5IF "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q JTBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q XIPTF BQQMJDBUJPO
    DBDIFHSPVQ Q T VQEBUFTUBUVT Q JT 3>F=;>038=6

    3.# 2$0$ #7 HOG?LC=P;FO?


    5IF "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q JTBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q XIPTF BQQMJDBUJPO
    DBDIFHSPVQ Q T VQEBUFTUBUVT Q JT 83;4 BOEXIPTF BQQMJDBUJPODBDIFHSPVQ Q JTOPUNBSLFEBT PCTPMFUF Q
    CVUUIBU BQQMJDBUJPODBDIF Q JT =>C UIF OFXFTU Q DBDIFJOJUTHSPVQ

    -!1-*$2$ HOG?LC=P;FO?
    5IF "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q JTBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q XIPTF BQQMJDBUJPO
    DBDIFHSPVQ Q JTNBSLFEBT PCTPMFUF Q 

    *GUIF PK?<O@ NFUIPEJTJOWPLFE UIFVTFSBHFOUNVTUJOWPLFUIF BQQMJDBUJPODBDIFEPXOMPBEQSPDFTT Q JOUIF


    CBDLHSPVOE GPSUIF BQQMJDBUJPODBDIF Q XJUIXIJDIUIF "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q JTBTTPDJBUFE
    CVUXJUIPVUHJWJOHUIBU DBDIFIPTU Q UPUIFBMHPSJUIN*GUIFSFJTOPTVDI BQQMJDBUJPODBDIF Q PSJGJUJTNBSLFEBT
    PCTPMFUF Q UIFOUIFNFUIPENVTUSBJTFBO */7"-*%@45"5&@&33 Q FYDFQUJPOJOTUFBE

    *GUIF NR<K!<>C@ NFUIPEJTJOWPLFE UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     $IFDLUIBU "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q JTBTTPDJBUFEXJUIBO BQQMJDBUJPODBDIF Q *GJUJT
    OPU UIFOSBJTFBO */7"-*%@45"5&@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

     -FU 20274 CFUIF BQQMJDBUJPODBDIF Q XJUIXIJDIUIF "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q JT
    BTTPDJBUFE #ZEFИOJUJPO UIJTJTUIFTBNFBTUIFPOFUIBUXBTGPVOEJOUIFQSFWJPVTTUFQ

     *G 20274T BQQMJDBUJPODBDIFHSPVQ Q JTNBSLFEBT PCTPMFUF Q UIFOVOBTTPDJBUFUIF "QQMJDBUJPO$BDIF Q


    PCKFDUT DBDIFIPTU Q GSPN 20274 BOEBCPSUUIFTFTUFQT 3FTPVSDFTXJMMOPXMPBEGSPNUIFOFUXPSLJOTUFBE
    PGUIFDBDIF

     $IFDLUIBUUIFSFJTBOBQQMJDBUJPODBDIFJOUIFTBNF BQQMJDBUJPODBDIFHSPVQ Q BT 20274 XIPTF


    DPNQMFUFOFTTЙBH Q JT 2><?;4C4 BOEUIBUJT OFXFS Q UIBO 20274*GUIFSFJTOPU UIFOSBJTFBO
    */7"-*%@45"5&@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

     -FU =4F20274 CFUIF OFXFTU Q BQQMJDBUJPODBDIF Q JOUIFTBNF BQQMJDBUJPODBDIFHSPVQ Q BT 20274
    XIPTF DPNQMFUFOFTTЙBH Q JT 2><?;4C4

     6OBTTPDJBUFUIF "QQMJDBUJPO$BDIF Q PCKFDUT DBDIFIPTU Q GSPN 20274 BOEJOTUFBEBTTPDJBUFJUXJUI =4F
    20274

    5IFGPMMPXJOHBSFUIF FWFOUIBOEMFST Q BOEUIFJSDPSSFTQPOEJOH FWFOUIBOEMFSFWFOUUZQFT Q


    UIBUNVTUCF
    TVQQPSUFE BT*%-BUUSJCVUFT CZBMMPCKFDUTJNQMFNFOUJOHUIF "QQMJDBUJPO$BDIF Q JOUFSGBDF

    !P?HNB;H>F?L J !P?HNB;H>F?L?P?HNNSJ? J

    JI>C@>FDIB DIFDLJOH Q


    JI@MMJM FSSPS Q
    JIIJPK?<O@ OPVQEBUF Q
    JI?JRIGJ<?DIB EPXOMPBEJOH Q
    JIKMJBM@NN QSPHSFTT Q
    JIPK?<O@M@<?T VQEBUFSFBEZ Q
    JI><>C@? DBDIFE Q
    JIJ=NJG@O@ PCTPMFUF Q

    
       LIQM?LMN;N?

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    PBG=HP I<QDB<OJM K JI*DI@ K
    3FUVSOTGBMTFJGUIFVTFSBHFOUJTEFИOJUFMZPЛJOF EJTDPOOFDUFEGSPNUIFOFUXPSL
    3FUVSOTUSVFJGUIFVTFS
    BHFOUNJHIUCFPOMJOF

    5IF I<QDB<OJM JI*DI@ BUUSJCVUFNVTUSFUVSOGBMTFJGUIFVTFSBHFOUXJMMOPUDPOUBDUUIFOFUXPSLXIFOUIFVTFSGPMMPXT


    MJOLTPSXIFOBTDSJQUSFRVFTUTBSFNPUFQBHF PSLOPXTUIBUTVDIBOBUUFNQUXPVMEGBJM
    BOENVTUSFUVSOUSVF
    PUIFSXJTF

    8IFOUIFWBMVFUIBUXPVMECFSFUVSOFECZUIF OBWJHBUPSPO-JOF Q BUUSJCVUFPGUIF 8JOEPX Q DIBOHFTGSPNUSVFUP


    GBMTF UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE JAAGDI@ BUUIF 8JOEPX Q PCKFDU

    0OUIFPUIFSIBOE XIFOUIFWBMVFUIBUXPVMECFSFUVSOFECZUIF OBWJHBUPSPO-JOF Q BUUSJCVUFPGUIF 8JOEPX Q


    DIBOHFTGSPNGBMTFUPUSVF UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE JIGDI@ BUUIF
    8JOEPX Q PCKFDU

    5IF UBTLTPVSDF Q GPSUIFTF UBTLT Q JTUIF OFUXPSLJOHUBTLTPVSDF Q 

    *HM> 0ABL:MMKB;NM>BLBGA>K>GMERNGK>EB:;E> <HFINM>K<:G;><HGG><M>=MH:G>MPHKDPBMAHNM


    A:OBG@%GM>KG>M:<<>LL

    
     3?<;JJFC=;NCIH,%M

      /=LCJNCHA

       %HNLI>O=NCIH

    7BSJPVTNFDIBOJTNTDBODBVTFBVUIPSQSPWJEFEFYFDVUBCMFDPEFUPSVOJOUIFDPOUFYUPGBEPDVNFOU5IFTF
    NFDIBOJTNTJODMVEF CVUBSFQSPCBCMZOPUMJNJUFEUP

    Ǭ 1SPDFTTJOHPG TDSJQU Q FMFNFOUT

    Ǭ 1SPDFTTJOHPGJOMJOF KBWBTDSJQU Q 63-T FHUIF TSD Q BUUSJCVUFPG JNH Q FMFNFOUT PSBO !JNQPSU SVMF
    JOB$44 TUZMF Q FMFNFOUCMPDL
    

    Ǭ &WFOUIBOEMFST XIFUIFSSFHJTUFSFEUISPVHIUIF%0.VTJOH BEE&WFOU-JTUFOFS


    CZFYQMJDJU FWFOUIBOEMFS
    DPOUFOUBUUSJCVUFT Q CZ FWFOUIBOEMFS*%-BUUSJCVUFT Q PSPUIFSXJTF

    Ǭ 1SPDFTTJOHPGUFDIOPMPHJFTMJLF9#-PS47(UIBUIBWFUIFJSPXOTDSJQUJOHGFBUVSFT

       !H;<FCHA;H>>CM;<FCHAM=LCJNCHA

    /=LCJNCHACM?H;<F?> JOB 1A>FB8=62>=C4GC ? XIFOBMMPGUIFGPMMPXJOHDPOEJUJPOTBSFUSVF

    Ǭ 5IFVTFSBHFOUTVQQPSUTTDSJQUJOH

    Ǭ 5IFVTFSIBTOPUEJTBCMFETDSJQUJOHGPSUIJT CSPXTJOHDPOUFYU Q BUUIJTUJNF 6TFSBHFOUTNBZQSPWJEFVTFST


    XJUIUIFPQUJPOUPEJTBCMFTDSJQUJOHHMPCBMMZ PSJOBИOFSHSBJOFENBOOFS FHPOBQFSPSJHJOCBTJT

    Ǭ 5IF CSPXTJOHDPOUFYU Q EJEOPUIBWFUIF TBOECPYFETDSJQUTCSPXTJOHDPOUFYUЙBH Q TFUXIFOUIF CSPXTJOH


    DPOUFYU Q T BDUJWFEPDVNFOU Q XBTDSFBUFE

    /=LCJNCHACM>CM;<F?> JOB CSPXTJOHDPOUFYU Q XIFOBOZPGUIFBCPWFDPOEJUJPOTBSFGBMTF JFXIFOTDSJQUJOHJTOPU


    FOBCMFE Q
    

    /=LCJNCHACM?H;<F?> GPSB =>34 JGUIF %PDVNFOU Q PCKFDUPGUIFOPEF UIFOPEFJUTFMG JGJUJTJUTFMGB %PDVNFOU Q
    PCKFDU
    IBTBOBTTPDJBUFE CSPXTJOHDPOUFYU Q BOE TDSJQUJOHJTFOBCMFE Q JOUIBU CSPXTJOHDPOUFYU Q 

    /=LCJNCHACM>CM;<F?> GPSBOPEFJGUIFSFJTOPTVDI CSPXTJOHDPOUFYU Q PSJG TDSJQUJOHJTEJTBCMFE Q JOUIBU CSPXTJOH


    DPOUFYU Q 

       ,LI=?MMCHAGI>?F
        ?]HCNCIHM

    " M=LCJN IBT

     L<KBIM>Q><NMBHG>GOBKHGF>GM
    5IFDIBSBDUFSJTUJDTPGUIFTDSJQUFYFDVUJPOFOWJSPONFOUEFQFOEPOUIFMBOHVBHF BOEBSFOPUEFИOFECZUIJT
    TQFDJИDBUJPO

    *O+BWB4DSJQU UIFTDSJQUFYFDVUJPOFOWJSPONFOUDPOTJTUTPGUIFJOUFSQSFUFS UIFTUBDLPG 4G42DC8>=2>=C4GCB


    UIF 6;>10;2>34 BOE 5D=2C8>=2>34 BOEUIF'VODUJPOPCKFDUTSFTVMUJOH BOETPGPSUI

     EBLMH?<H=>>GMKR
    IHBGML
    &BDIDPEFFOUSZQPJOUSFQSFTFOUTBCMPDLPGFYFDVUBCMFDPEFUIBUUIFTDSJQUFYQPTFTUPPUIFSTDSJQUTBOEUPUIF
    VTFSBHFOU

    &BDI'VODUJPOPCKFDUJOB+BWB4DSJQU TDSJQUFYFDVUJPOFOWJSPONFOU Q IBTBDPSSFTQPOEJOHDPEFFOUSZ


    QPJOU GPSJOTUBODF

    5IFNBJOQSPHSBNDPEFPGUIFTDSJQU JGBOZ JTUIF BGBMB:E<H=>>GMKR


    IHBGM5ZQJDBMMZ UIFDPEFDPSSFTQPOEJOH
    UPUIJTFOUSZQPJOUJTFYFDVUFEJNNFEJBUFMZBGUFSUIFTDSJQUJTQBSTFE

    *O+BWB4DSJQU UIJTDPSSFTQPOETUPUIFFYFDVUJPODPOUFYUPGUIFHMPCBMDPEF

    
    L?F;NCIHMBCJQCNBNB? L<KBIML@EH;:EH;C><M
    "OPCKFDUUIBUQSPWJEFTUIF"1*TUIBUUIFDPEFDBOVTF

    5IJTJTUZQJDBMMZB 8JOEPX Q PCKFDU*O+BWB4DSJQU UIJTDPSSFTQPOETUPUIF 6;>10;>1942C

    *HM> 3A>G: L<KBIML@EH;:EH;C><M I BL:G>FIMRH;C><M BM<:GM=H:GRMABG@MA:MBGM>K:<ML


    PBMAMA>>GOBKHGF>GM

    *GUIF TDSJQUTHMPCBMPCKFDU Q JTB 8JOEPX Q PCKFDU UIFOJO+BWB4DSJQU UIF5IJT#JOEJOHPGUIFHMPCBMFYFDVUJPO


    DPOUFYUGPSUIJTTDSJQUNVTUCFUIF 8JOEPX Q PCKFDUT 8JOEPX1SPYZ Q PCKFDU SBUIFSUIBOUIFHMPCBMPCKFDU
    <&$."> Q

    *HM> 0ABLBL: PBEE?NEOBHE:MBHG I H?MA>&:O:/<KBIMLI><B[<:MBHG<NKK>GM:MMA>MBF>H?PKBMBG@


    !)/<KBIM>=BMBHG :L=>[G>=BGL><MBHG   %GBMB:E#EH;:E!Q><NMBHGHGM>QM LM>I
    0A>&:O:/<KBIMLI><B[<:MBHGK>JNBK>LMA:MMA> MABL D>RPHK=BGMA>@EH;:EL<HI>K>MNKGMA>
    @EH;:EH;C><M ;NMMABLBLGHM<HFI:MB;E>PBMAMA>L><NKBMR=>LB@GIK>O:E>GMBG
    BFIE>F>GM:MBHGL:LLI><B[>=A>K>BG 7!)8 I

    L?F;NCIHMBCJQCNBNB? L<KBIML;KHPLBG@<HGM>QM
    " CSPXTJOHDPOUFYU Q UIBUJTBTTJHOFESFTQPOTJCJMJUZGPSBDUJPOTUBLFOCZUIFTDSJQU

    8IFOBTDSJQUDSFBUFTBOE OBWJHBUFT Q BOFX UPQMFWFMCSPXTJOHDPOUFYU Q UIF PQFOFS Q BUUSJCVUFPG
    UIFOFX CSPXTJOHDPOUFYU Q T 8JOEPX Q PCKFDUXJMMCFTFUUPUIF TDSJQUTCSPXTJOHDPOUFYU Q T
    8JOEPX1SPYZ Q PCKFDU

    L?F;NCIHMBCJQCNBNB? L<KBIML=H<NF>GM
    " %PDVNFOU Q UIBUJTBTTJHOFESFTQPOTJCJMJUZGPSBDUJPOTUBLFOCZUIFTDSJQU

    8IFOBTDSJQU GFUDIFT Q BSFTPVSDF UIF DVSSFOUBEESFTT Q PGUIF TDSJQUTEPDVNFOU Q XJMMCFVTFEUPTFU
    UIF 3FGFSFS TJD
    IFBEFS

     1.(<A:K:<M>K>G<H=BG@
    "DIBSBDUFSFODPEJOH TFUXIFOUIFTDSJQUJTDSFBUFE VTFEUPFODPEF63-T *GUIFDIBSBDUFSFODPEJOHJTTFUGSPN
    BOPUIFSTPVSDF FHB EPDVNFOUTDIBSBDUFSFODPEJOH Q UIFOUIF TDSJQUT63-DIBSBDUFSFODPEJOH Q NVTU
    GPMMPXUIFTPVSDF TPUIBUJGUIFTPVSDFTDIBOHFT TPEPFTUIFTDSJQUT

     ;:L>1.(
    " 63- Q TFUXIFOUIFTDSJQUJTDSFBUFE VTFEUPSFTPMWFSFMBUJWF63-T *GUIFCBTF63-JTTFUGSPNBOPUIFSTPVSDF
    FHB EPDVNFOUCBTF63- Q UIFOUIF TDSJQUTCBTF63- Q NVTUGPMMPXUIFTPVSDF TPUIBUJGUIFTPVSDFT
    DIBOHFT TPEPFTUIFTDSJQUT

        ;FFCHAM=LCJNM

    8IFOBVTFSBHFOUJTUP DOGJNI;=I>??HNLS JICHN GPSB TDSJQU Q GPSFYBNQMFUPJOWPLFBOFWFOUMJTUFOFSEFИOFE


    JOUIBU TDSJQU Q UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     *GUIF TDSJQUTHMPCBMPCKFDU Q JTB 8JOEPX Q PCKFDUXIPTF %PDVNFOU Q PCKFDUJTOPU GVMMZBDUJWF Q UIFO
    BCPSUUIFTFTUFQTXJUIPVUEPJOHBOZUIJOH5IFDBMMCBDLJTOPUИSFE

     4FUUIF FOUSZTDSJQU Q UPCFUIF TDSJQU Q CFJOHJOWPLFE

     .BLFUIF TDSJQUFYFDVUJPOFOWJSPONFOU Q GPSUIF TDSJQU Q FYFDVUFUIFDPEFGPSUIFHJWFODPEFFOUSZQPJOU

     4FUUIF FOUSZTDSJQU Q CBDLUPXIBUFWFSJUXBTXIFOUIJTBMHPSJUINTUBSUFE

    5IJTBMHPSJUINJTOPUJOWPLFECZPOFTDSJQUDBMMJOHBOPUIFS

        L?;NCHAM=LCJNM

    8IFOUIFTQFDJИDBUJPOTBZTUIBUB TDSJQU Q JTUPCF =L?;N?> HJWFOTPNFTDSJQUTPVSDF JUTTDSJQUJOHMBOHVBHF B


    HMPCBMPCKFDU BCSPXTJOHDPOUFYU B63-DIBSBDUFSFODPEJOH BOEBCBTF63- UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOH
    TUFQT

     *G TDSJQUJOHJTEJTBCMFE Q GPS CSPXTJOHDPOUFYU Q QBTTFEUPUIJTBMHPSJUIN UIFOBCPSUUIFTFTUFQT BTJGUIF


    TDSJQUEJEOPUIJOHCVUSFUVSOWPJE

    
     4FUVQB TDSJQUFYFDVUJPOFOWJSPONFOU Q BTBQQSPQSJBUFGPSUIFTDSJQUJOHMBOHVBHF

     1BSTFDPNQJMFJOJUJBMJ[FUIFTPVSDFPGUIFTDSJQUVTJOHUIF TDSJQUFYFDVUJPOFOWJSPONFOU Q BTBQQSPQSJBUFGPS


    UIFTDSJQUJOHMBOHVBHF BOEUIVTPCUBJOUIF MJTUPGDPEFFOUSZQPJOUT Q GPSUIFTDSJQU*GUIFTFNBOUJDTPGUIF
    TDSJQUJOHMBOHVBHFBOEUIFHJWFOTPVSDFDPEFBSFTVDIUIBUUIFSFJTFYFDVUBCMFDPEFUPCFJNNFEJBUFMZSVO
    UIFOUIF 8=8C80;2>344=CAH?>8=C ?  JTUIFFOUSZQPJOUGPSUIBUDPEF

     4FUVQUIF TDSJQUTHMPCBMPCKFDU Q UIF TDSJQUTCSPXTJOHDPOUFYU Q UIF TDSJQUTEPDVNFOU Q UIF TDSJQUT
    63-DIBSBDUFSFODPEJOH Q BOEUIF TDSJQUTCBTF63- Q GSPNUIFTFUUJOHTQBTTFEUPUIJTBMHPSJUIN

     +VNQ Q UPUIF TDSJQU Q T 8=8C80;2>344=CAH?>8=C ?  

    8IFOUIFVTFSBHFOUJTUP =L?;N?;HCGJIN?HNM=LCJN HJWFOTPNFTDSJQUTPVSDF JUTTDSJQUJOHMBOHVBHF BOEB


    CSPXTJOHDPOUFYU UIFVTFSBHFOUNVTU DSFBUFBTDSJQU Q VTJOHUIFHJWFOTDSJQUTPVSDFBOETDSJQUJOHMBOHVBHF VTJOHB
    OFXFNQUZPCKFDUBTUIFHMPCBMPCKFDU BOEVTJOHUIFHJWFOCSPXTJOHDPOUFYUBTUIFCSPXTJOHDPOUFYU5IF63-
    DIBSBDUFSFODPEJOHBOECBTF63-GPSUIFSFTVMUJOH TDSJQU Q BSFOPUJNQPSUBOUBTOP"1*TBSFFYQPTFEUPUIFTDSJQU

    8IFOUIFTQFDJИDBUJPOTBZTUIBUB TDSJQU Q JTUPCF =L?;N?>@LIG;HI>? =>34 HJWFOTPNFTDSJQUTPVSDFBOEJUT


    TDSJQUJOHMBOHVBHF UIFVTFSBHFOUNVTU DSFBUFBTDSJQU Q VTJOHUIFHJWFOTDSJQUTPVSDFBOETDSJQUJOHMBOHVBHF BOE
    VTJOH UIFTDSJQUTFUUJOHTEFUFSNJOFEGSPNUIFOPEF Q =>34

    0B?M=LCJNM?NNCHAM>?N?LGCH?>@LIGNB?HI>? =>34 BSFDPNQVUFEBTGPMMPXT

     -FU 3>2D<4=C CFUIF %PDVNFOU Q PG =>34 PS =>34 JUTFMGJGJUJTB %PDVNFOU Q
    

     5IFCSPXTJOHDPOUFYUJTUIF CSPXTJOHDPOUFYU Q PG 3>2D<4=C

     5IFHMPCBMPCKFDUJTUIF 8JOEPX Q PCKFDUPG 3>2D<4=C

     5IF63-DIBSBDUFSFODPEJOHJTUIF DIBSBDUFSFODPEJOH Q PG 3>2D<4=C 5IJTJTBSFGFSFODF OPUBDPQZ Q 

     5IFCBTF63-JTUIF CBTF63- Q PG 3>2D<4=C 5IJTJTBSFGFSFODF OPUBDPQZ Q 

        'CFFCHAM=LCJNM

    6TFSBHFOUTNBZJNQPTFSFTPVSDFMJNJUBUJPOTPOTDSJQUT GPSFYBNQMF$16RVPUBT NFNPSZMJNJUT UPUBMFYFDVUJPOUJNF


    MJNJUT PSCBOEXJEUIMJNJUBUJPOT8IFOBTDSJQUFYDFFETBMJNJU UIFVTFSBHFOUNBZFJUIFSUISPXB
    2605"@&9$&&%&%@&33 Q FYDFQUJPO BCPSUUIFTDSJQUXJUIPVUBOFYDFQUJPO QSPNQUUIFVTFS PSUISPUUMFTDSJQUFYFDVUJPO

    'PSFYBNQMF UIFGPMMPXJOHTDSJQUOFWFSUFSNJOBUFT"VTFSBHFOUDPVME BGUFSXBJUJOHGPSBGFXTFDPOET QSPNQU


    UIFVTFSUPFJUIFSUFSNJOBUFUIFTDSJQUPSMFUJUDPOUJOVF

    TDSJQU
    XIJMF USVF
    \ MPPQ ^
    TDSJQU

    6TFSBHFOUTBSFFODPVSBHFEUPBMMPXVTFSTUPEJTBCMFTDSJQUJOHXIFOFWFSUIFVTFSJTQSPNQUFEFJUIFSCZBTDSJQU FH
    VTJOHUIF XJOEPXBMFSU
    Q "1*
    PSCFDBVTFPGBTDSJQUTBDUJPOT FHCFDBVTFJUIBTFYDFFEFEBUJNFMJNJU
    

    *GTDSJQUJOHJTEJTBCMFEXIJMFBTDSJQUJTFYFDVUJOH UIFTDSJQUTIPVMECFUFSNJOBUFEJNNFEJBUFMZ

       !P?HNFIIJM
        ?]HCNCIHM

    5PDPPSEJOBUFFWFOUT VTFSJOUFSBDUJPO TDSJQUT SFOEFSJOH OFUXPSLJOH BOETPGPSUI VTFSBHFOUTNVTUVTF ?P?HNFIIJM


    BTEFTDSJCFEJOUIJTTFDUJPO

    5IFSFNVTUCFBUMFBTUPOF FWFOUMPPQ Q QFSVTFSBHFOU BOEBUNPTUPOF FWFOUMPPQ Q QFS VOJUPGSFMBUFETJNJMBS


    PSJHJOCSPXTJOHDPOUFYUT Q 

    "O FWFOUMPPQ Q BMXBZTIBTBUMFBTUPOF CSPXTJOHDPOUFYU Q *GBO FWFOUMPPQ Q T CSPXTJOHDPOUFYUT Q BMMHPBXBZ
    UIFOUIF FWFOUMPPQ Q HPFTBXBZBTXFMM" CSPXTJOHDPOUFYU Q BMXBZTIBTBO FWFOUMPPQ Q DPPSEJOBUJOHJUT
    BDUJWJUJFT

    
    *HM> +MA>KLI><B[<:MBHGL<:G=>[G>G>PDBG=LH?>O>GMEHHILMA:M:K>GM:LLH<B:M>=PBMA
    ;KHPLBG@<HGM>QMLBGI:KMB<NE:K MA>3>;3HKD>KLLI><B[<:MBHG=H>LLH

    "O FWFOUMPPQ Q IBTPOFPSNPSF N;MEKO?O?M" UBTLRVFVF Q JTBOPSEFSFEMJTUPG N;MEM XIJDIDBOCF

    !P?HNM
    "TZODISPOPVTMZEJTQBUDIJOHBO &WFOU Q PCKFDUBUBQBSUJDVMBS &WFOU5BSHFU Q PCKFDUJTBUBTL

    *HM> *HM:EE>O>GML:K>=BLI:M<A>=NLBG@MA> M:LDJN>N> I F:GR:K>=BLI:M<A>=


    LRG<AKHGHNLER=NKBG@HMA>KM:LDL

    ,;LMCHA
    5IF )5.-QBSTFS Q UPLFOJ[JOHBTJOHMFCZUF BOEUIFOQSPDFTTJOHBOZSFTVMUJOHUPLFOT JTBUBTL

    ;FF<;=EM
    $BMMJOHBDBMMCBDLBTZODISPOPVTMZJTBUBTL

    1MCHA;L?MIOL=?
    8IFOBOBMHPSJUIN GFUDIFT Q BSFTPVSDF JGUIFGFUDIJOHPDDVSTBTZODISPOPVTMZUIFOUIFQSPDFTTJOHPGUIF
    SFTPVSDFPODFTPNFPSBMMPGUIFSFTPVSDFJTBWBJMBCMFJTBUBTL

    .?;=NCHANI +)G;HCJOF;NCIH
    4PNFFMFNFOUTIBWFUBTLTUIBUUSJHHFSJOSFTQPOTFUP%0.NBOJQVMBUJPO FHXIFOUIBUFMFNFOUJT JOTFSUFEJOUP
    UIFEPDVNFOU Q 

    8IFOBVTFSBHFOUJTUP KO?O?;N;ME JUNVTUBEEUIFHJWFOUBTLUPPOFPGUIF UBTLRVFVFT Q PGUIFSFMFWBOU FWFOU


    MPPQ Q "MMUIFUBTLTGSPNPOFQBSUJDVMBS N;MEMIOL=? FHUIFDBMMCBDLTHFOFSBUFECZUJNFST UIFFWFOUTEJTQBUDIFE
    GPSNPVTFNPWFNFOUT UIFUBTLTRVFVFEGPSUIFQBSTFS
    NVTUBMXBZTCFBEEFEUPUIFTBNF UBTLRVFVF Q CVUUBTLT
    GSPNEJЗFSFOU UBTLTPVSDFT Q NBZCFQMBDFEJOEJЗFSFOU UBTLRVFVFT Q 

    'PSFYBNQMF BVTFSBHFOUDPVMEIBWFPOF UBTLRVFVF Q GPSNPVTFBOELFZFWFOUT UIF VTFSJOUFSBDUJPOUBTL


    TPVSDF Q
    BOEBOPUIFSGPSFWFSZUIJOHFMTF5IFVTFSBHFOUDPVMEUIFOHJWFLFZCPBSEBOENPVTFFWFOUT
    QSFGFSFODFPWFSPUIFSUBTLTUISFFRVBSUFSTPGUIFUJNF LFFQJOHUIFJOUFSGBDFSFTQPOTJWFCVUOPUTUBSWJOHPUIFS
    UBTLRVFVFT BOEOFWFSQSPDFTTJOHFWFOUTGSPNBOZPOF UBTLTPVSDF Q PVUPGPSEFS

    &BDI UBTL Q UIBUJT RVFVFE Q POUPB UBTLRVFVF Q PGBO FWFOUMPPQ Q EFИOFECZUIJTTQFDJИDBUJPOJTBTTPDJBUFE
    XJUIB %PDVNFOU Q JGUIFUBTLXBTRVFVFEJOUIFDPOUFYUPGBOFMFNFOU UIFOJUJTUIFFMFNFOUT %PDVNFOU Q JGUIF
    UBTLXBTRVFVFEJOUIFDPOUFYUPGB CSPXTJOHDPOUFYU Q UIFOJUJTUIF CSPXTJOHDPOUFYU Q T BDUJWFEPDVNFOU Q BU
    UIFUJNFUIFUBTLXBTRVFVFEJGUIFUBTLXBTRVFVFECZPSGPSB TDSJQU Q UIFOUIFEPDVNFOUJTUIF TDSJQUT
    EPDVNFOU Q 

    "VTFSBHFOUJTSFRVJSFEUPIBWFPOF MNIL;A?GON?R5IJTNVUFYJTVTFEUPDPOUSPMBDDFTTUPTIBSFETUBUFMJLF
    DPPLJFT"UBOZPOFQPJOU UIF TUPSBHFNVUFY Q JTFJUIFSGSFF PSPXOFECZBQBSUJDVMBS FWFOUMPPQ Q PSJOTUBODFPG
    UIF GFUDIJOH Q BMHPSJUIN

    8IFOFWFSB TDSJQU Q DBMMTJOUPB QMVHJO Q BOEXIFOFWFSB QMVHJO Q DBMMTJOUPB TDSJQU Q UIFVTFSBHFOUNVTU
    SFMFBTFUIF TUPSBHFNVUFY Q 

        ,LI=?MMCHAGI>?F

    "O FWFOUMPPQ Q NVTUDPOUJOVBMMZSVOUISPVHIUIFGPMMPXJOHTUFQTGPSBTMPOHBTJUFYJTUT

     3VOUIFPMEFTU UBTL Q POPOFPGUIF FWFOUMPPQ Q T UBTLRVFVFT Q JHOPSJOHUBTLTXIPTFBTTPDJBUFE


    %PDVNFOU Q TBSFOPU GVMMZBDUJWF Q 5IFVTFSBHFOUNBZQJDLBOZ UBTLRVFVF Q 

     *GUIF TUPSBHFNVUFY Q JTOPXPXOFECZUIF FWFOUMPPQ Q SFMFBTFJUTPUIBUJUJTPODFBHBJOGSFF

     3FNPWFUIBUUBTLGSPNJUT UBTLRVFVF Q 

     *GBOZBTZODISPOPVTMZSVOOJOHBMHPSJUINTBSF ;Q;CNCHA;MN;<F?MN;N? UIFOSVOUIFJS MSH=BLIHIOM


    M?=NCIH BOEUIFOSFTVNFSVOOJOHUIFJSBTZODISPOPVTBMHPSJUIN

    *HM>  LRG<AKHGHNLL><MBHG I G>O>KFNM:M>LMA> +) KNGL:GRL<KBIM HKA:L:GR


    HMA>KLB=>
    >Z><ML

    
    *HM> /M>ILBG LRG<AKHGHNLL><MBHGL I :K>F:KD>=PBMA

     *GOFDFTTBSZ VQEBUFUIFSFOEFSJOHPSVTFSJOUFSGBDFPGBOZ %PDVNFOU Q PS CSPXTJOHDPOUFYU Q UPSFЙFDUUIF


    DVSSFOUTUBUF

     3FUVSOUPUIFИSTUTUFQPGUIF FWFOUMPPQ Q 

    8IFOBOBMHPSJUINTBZTUP MJCHNB??P?HNFIIJ VOUJMBDPOEJUJPO 6>0; JTNFU UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOH


    TUFQT

     -FU C0B:B>DA24 CFUIF UBTLTPVSDF Q PGUIFDVSSFOUMZSVOOJOH UBTL Q 

     4UPQUIFDVSSFOUMZSVOOJOH UBTL Q BMMPXJOHUIF FWFOUMPPQ Q UPSFTVNF CVUDPOUJOVFUIFTFTUFQT


    BTZODISPOPVTMZ

     8BJUVOUJMUIFDPOEJUJPO 6>0; JTNFU

     2VFVFBUBTL Q UPDPOUJOVFSVOOJOHUIFTFTUFQT VTJOHUIF UBTLTPVSDF Q C0B:B>DA248BJUVOUJMUIJTUBTL


    SVOTCFGPSFDPOUJOVJOHUIFTFTUFQT

     3FUVSOUPUIFDBMMFS

    4PNFPGUIFBMHPSJUINTJOUIJTTQFDJИDBUJPO GPSIJTUPSJDBMSFBTPOT SFRVJSFUIFVTFSBHFOUUP J;OM? XIJMFSVOOJOHB


    UBTL Q VOUJMTPNFDPOEJUJPOIBTCFFONFU8IJMFBVTFSBHFOUIBTBQBVTFE UBTL Q UIFDPSSFTQPOEJOH FWFOUMPPQ Q
    NVTUOPUSVOGVSUIFS UBTLT Q BOEBOZTDSJQUJOUIFDVSSFOUMZSVOOJOH UBTL Q NVTUCMPDL6TFSBHFOUTTIPVMESFNBJO
    SFTQPOTJWFUPVTFSJOQVUXIJMFQBVTFE IPXFWFS BMCFJUJOBSFEVDFEDBQBDJUZTJODFUIF FWFOUMPPQ Q XJMMOPUCFEPJOH
    BOZUIJOH

    8IFOBVTFSBHFOUJTUP I<N;CHNB?MNIL;A?GON?R BTQBSUPGSVOOJOHB UBTL Q JUNVTUSVOUISPVHIUIFGPMMPXJOH


    TUFQT

     *GUIF TUPSBHFNVUFY Q JTBMSFBEZPXOFECZUIJT UBTL Q T FWFOUMPPQ Q UIFOBCPSUUIFTFTUFQT

     0UIFSXJTF QBVTF Q VOUJMUIF TUPSBHFNVUFY Q DBOCFUBLFOCZUIF FWFOUMPPQ Q 

     5BLFPXOFSTIJQPGUIF TUPSBHFNVUFY Q 

        #?H?LC=N;MEMIOL=?M

    5IFGPMMPXJOH UBTLTPVSDFT Q BSFVTFECZBOVNCFSPGNPTUMZVOSFMBUFEGFBUVSFTJOUIJTBOEPUIFSTQFDJИDBUJPOT

    0B? +)F:GBINE:MBHGM:LDLHNK<>
    5IJT UBTLTPVSDF Q JTVTFEGPSGFBUVSFTUIBUSFBDUUP%0.NBOJQVMBUJPOT TVDIBTUIJOHTUIBUIBQQFO
    BTZODISPOPVTMZXIFOBOFMFNFOUJT JOTFSUFEJOUPUIFEPDVNFOU Q 

    0B? NL>KBGM>K:<MBHGM:LDLHNK<>
    5IJT UBTLTPVSDF Q JTVTFEGPSGFBUVSFTUIBUSFBDUUPVTFSJOUFSBDUJPO GPSFYBNQMFLFZCPBSEPSNPVTFJOQVU

    "TZODISPOPVTFWFOUTTFOUJOSFTQPOTFUPVTFSJOQVU FH DMJDL Q FWFOUT


    NVTUCFEJTQBUDIFEVTJOH UBTLT Q
    RVFVFE Q XJUIUIF VTFSJOUFSBDUJPOUBTLTPVSDF Q  <%0.&7&/54> Q

    0B? G>MPHKDBG@M:LDLHNK<>
    5IJT UBTLTPVSDF Q JTVTFEGPSGFBUVSFTUIBUUSJHHFSJOSFTQPOTFUPOFUXPSLBDUJWJUZ

    0B? ABLMHKRMK:O>KL:EM:LDLHNK<>
    5IJT UBTLTPVSDF Q JTVTFEUPRVFVFDBMMTUP IJTUPSZCBDL
    Q BOETJNJMBS"1*T

       0B? E<Q<N>MDKO JLINI=IF

    8IFOB 63- Q VTJOHUIF KBWBTDSJQU QSPUPDPMJT >?L?@?L?H=?> UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     -FUUIFTDSJQUTPVSDFCFUIFTUSJOHPCUBJOFEVTJOHUIFDPOUFOUSFUSJFWBMPQFSBUJPOEFИOFEGPS KBWBTDSJQU
    63-T <+463-> Q

     6TFUIFBQQSPQSJBUFTUFQGSPNUIFGPMMPXJOHMJTU

    
    %@; <LIQMCHA=IHN?RN J CM<?CHA H;PCA;N?> J NI; E<Q<N>MDKO 1.(
    ;H>NB? ;=NCP?
    >I=OG?HN J I@NB;N<LIQMCHA=IHN?RNB;MNB? M;G?ILCACH J ;MNB?M=LCJNACP?H<SNB;N1.(
    -FU 033A4BB CFUIF BEESFTT Q PGUIF BDUJWFEPDVNFOU Q PGUIF CSPXTJOHDPOUFYU Q CFJOHOBWJHBUFE

    *G 033A4BB JT BCPVUCMBOL Q BOEUIF CSPXTJOHDPOUFYU Q CFJOHOBWJHBUFEIBTB DSFBUPSCSPXTJOH


    DPOUFYU Q UIFOMFU 033A4BB CFUIF BEESFTT Q PGUIF DSFBUPS %PDVNFOU Q JOTUFBE

    $SFBUFBTDSJQU Q GSPNUIF %PDVNFOU Q OPEFPGUIF BDUJWFEPDVNFOU Q VTJOHUIFBGPSFNFOUJPOFE


    TDSJQUTPVSDF BOEBTTVNJOHUIFTDSJQUJOHMBOHVBHFJT+BWB4DSJQU

    -FU A4BD;C CFUIFSFUVSOWBMVFPGUIF 8=8C80;2>344=CAH?>8=C ?  PGUIJT TDSJQU Q *GBOFYDFQUJPOXBT


    SBJTFE MFU A4BD;C CFWPJEJOTUFBE 5IFSFTVMUXJMMCFWPJEBMTPJG TDSJQUJOHJTEJTBCMFE Q 

    8IFOJUDPNFTUJNFUP TFUUIFEPDVNFOUTBEESFTT Q JOUIF OBWJHBUJPOBMHPSJUIN Q VTF 033A4BB BT


    UIF PWFSSJEF63- Q 

    %@NB? "J>PH@IO K I<D?=NI@NB??F?G?HN


    ;NNLC<ON?
    ILMNSF?MB??N@LIGQBC=BNB? E<Q<N>MDKO 1.(
    Q;ML?;=B?>B;M;H;MMI=C;N?> <LIQMCHA=IHN?RN J
    $SFBUFBOJNQPUFOUTDSJQU Q VTJOHUIFBGPSFNFOUJPOFETDSJQUTPVSDF XJUIUIFTDSJQUJOHMBOHVBHFTFUUP
    +BWB4DSJQU BOEXJUIUIF %PDVNFOU Q TPCKFDUT CSPXTJOHDPOUFYU Q BTUIFCSPXTJOHDPOUFYU

    -FU A4BD;C CFUIFSFUVSOWBMVFPGUIF 8=8C80;2>344=CAH?>8=C ?  PGUIJT TDSJQU Q *GBOFYDFQUJPOXBT


    SBJTFE MFU A4BD;C CFWPJEJOTUFBE 5IFSFTVMUXJMMCFWPJEBMTPJG TDSJQUJOHJTEJTBCMFE Q 

    +NB?LQCM?
    -FU A4BD;C CFWPJE

     *GUIFSFTVMUPGFYFDVUJOHUIFTDSJQUJTWPJE UIFSFJTOPSFUVSOWBMVF
    UIFOUIF63-NVTUCFUSFBUFEJOB
    NBOOFSFRVJWBMFOUUPBO)551SFTPVSDFXJUIBO)551/P$POUFOUSFTQPOTF

    0UIFSXJTF UIF63-NVTUCFUSFBUFEJOBNBOOFSFRVJWBMFOUUPBO)551SFTPVSDFXJUIB0,SFTQPOTF
    XIPTF $POUFOU5ZQFNFUBEBUB Q JT UFYUIUNM Q BOEXIPTFSFTQPOTFCPEZJTUIFSFUVSOWBMVFDPOWFSUFEUP
    BTUSJOHWBMVF

    *HM> >KM:BG<HGM>QML BGI:KMB<NE:K BF@ I >E>F>GML B@GHK>MA> HGM>GM


    0RI>
    F>M:=:M: I

    4PGPSFYBNQMFB KBWBTDSJQU 63-GPSB TSD Q BUUSJCVUFPGBO JNH Q FMFNFOUXPVMECFFWBMVBUFEJOUIF


    DPOUFYUPGBOFNQUZPCKFDUBTTPPOBTUIFBUUSJCVUFJTTFUJUXPVMEUIFOCFTOJЗFEUPEFUFSNJOFUIFJNBHFUZQF
    BOEEFDPEFEBTBOJNBHF

    " KBWBTDSJQU 63-JOBO ISFG Q BUUSJCVUFPGBO B Q FMFNFOUXPVMEPOMZCFFWBMVBUFEXIFOUIFMJOLXBT


    GPMMPXFE Q 

    5IF TSD Q BUUSJCVUFPGBO JGSBNF Q FMFNFOUXPVMECFFWBMVBUFEJOUIFDPOUFYUPGUIF JGSBNF Q TPXO
    CSPXTJOHDPOUFYU Q PODFFWBMVBUFE JUTSFUVSOWBMVF JGJUXBTOPUWPJE
    XPVMESFQMBDFUIBU CSPXTJOH
    DPOUFYU Q TEPDVNFOU UIVTDIBOHJOHUIFWBSJBCMFTWJTJCMFJOUIBU CSPXTJOHDPOUFYU Q 

       !P?HNM

        !P?HNB;H>F?LM

    .BOZPCKFDUTDBOIBWF ?P?HNB;H>F?LM TQFDJИFE5IFTFBDUBTCVCCMJOHFWFOUMJTUFOFSTGPSUIFPCKFDUPOXIJDIUIFZ


    BSFTQFDJИFE

    "O FWFOUIBOEMFS Q DBOFJUIFSIBWFUIFWBMVFOVMMPSCFTFUUPB 'VODUJPO Q PCKFDU *OJUJBMMZ FWFOUIBOEMFSTNVTUCF


    TFUUPOVMM

    &WFOUIBOEMFSTBSFFYQPTFEJOPOFPSUXPXBZT

    5IFИSTUXBZ DPNNPOUPBMMFWFOUIBOEMFST JTBTBO FWFOUIBOEMFS*%-BUUSJCVUF Q 

    5IFTFDPOEXBZJTBTBO FWFOUIBOEMFSDPOUFOUBUUSJCVUF Q &WFOUIBOEMFSTPO )5.-FMFNFOUT Q BOETPNFPGUIF


    FWFOUIBOEMFSTPO 8JOEPX Q PCKFDUTBSFFYQPTFEJOUIJTXBZ

    
    !P?HNB;H>F?L% (;NNLC<ON?M POTFUUJOH NVTUTFUUIFDPSSFTQPOEJOHFWFOUIBOEMFSUPUIFJSOFXWBMVF BOEPO
    HFUUJOH NVTUSFUVSOXIBUFWFSUIFDVSSFOUWBMVFPGUIFDPSSFTQPOEJOHFWFOUIBOEMFSJT QPTTJCMZOVMM
    

    *GBO FWFOUIBOEMFS*%-BUUSJCVUF Q FYQPTFTBO FWFOUIBOEMFS Q PGBOPCKFDUUIBUEPFTOUFYJTU JUNVTUBMXBZTSFUVSO


    OVMMPOHFUUJOHBOENVTUEPOPUIJOHPOTFUUJOH

    *HM> 0ABL<:GA:II>GBGI:KMB<NE:K?HK >O>GMA:G=E>K% (:MMKB;NM> I HG ;H=R I >E>F>GMLMA:M=H


    GHMA:O><HKK>LIHG=BG@ 5BG=HP I H;C><ML

    *HM> >KM:BG>O>GMA:G=E>K% (:MMKB;NM>LA:O>:==BMBHG:EK>JNBK>F>GML BGI:KMB<NE:KMA>


    HGF>LL:@> I :MMKB;NM>H? +>LL:@>.HKM I H;C><ML

    !P?HNB;H>F?L=IHN?HN;NNLC<ON?M XIFOTQFDJИFE NVTUDPOUBJOWBMJE+BWB4DSJQUDPEFNBUDIJOHUIF 'VODUJPO#PEZ


    QSPEVDUJPO <&$."> Q

    8IFOBO FWFOUIBOEMFSDPOUFOUBUUSJCVUF Q JTTFU JGUIFFMFNFOUJTPXOFECZB %PDVNFOU Q UIBUJTJOB CSPXTJOH


    DPOUFYU Q BOE TDSJQUJOHJTFOBCMFE Q GPSUIBU CSPXTJOHDPOUFYU Q UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQTUP
    DSFBUFB TDSJQU Q BGUFSTFUUJOHUIFDPOUFOUBUUSJCVUFUPJUTOFXWBMVF

     4FUVQB TDSJQUFYFDVUJPOFOWJSPONFOU Q GPS+BWB4DSJQU

     6TJOHUIJTTDSJQUFYFDVUJPOFOWJSPONFOU DSFBUFBGVODUJPOPCKFDU BTEFИOFEJO&$."4DSJQUFEJUJPOTFDUJPO


    $SFBUJOH'VODUJPO0CKFDUT
    XJUI

    ,;L;G?N?LFCMN "HKF:E,:K:F>M>K(BLM
    K
    X %@NB?;NNLC<ON?CMNB? JI@MMJM ;NNLC<ON?I@NB? 5DI?JR K I<D?=N
    -FUUIFGVODUJPOIBWFUISFFBSHVNFOUT OBNFE FWFOU TPVSDF BOE GJMFOP
    X +NB?LQCM?
    -FUUIFGVODUJPOIBWFBTJOHMFBSHVNFOUDBMMFE FWFOU

    "OH=NCIH<I>S "NG<MBHGH=R
    5IF FWFOUIBOEMFSDPOUFOUBUUSJCVUF Q TOFXWBMVF

    (?RC=;F!HPCLIHG?HN /<HI>

     -FU )2>?4 CFUIFSFTVMUPG/FX0CKFDU&OWJSPONFOU UIFFMFNFOUT %PDVNFOU Q UIF 6;>10;


    4=E8A>=<4=C
    

     *GUIFFMFNFOUIBTB GPSNPXOFS Q MFU )2>?4 CFUIFSFTVMUPG/FX0CKFDU&OWJSPONFOU UIF


    FMFNFOUT GPSNPXOFS Q )2>?4
    

     -FU )2>?4 CFUIFSFTVMUPG/FX0CKFDU&OWJSPONFOU UIFFMFNFOUTPCKFDU )2>?4


    

    *HM> *>P+;C><M!GOBKHGF>GMBL=>[G>=BG!)/<KBIM>=BMBHGL><MBHG   
    *>P+;C><M!GOBKHGF>GM+ ! 7!)8 I

    IIF?;H^;A /MKB<M
    'BMTF

    -FUUIJTOFXGVODUJPOCFUIFPOMZFOUSZJOUIFTDSJQUT MJTUPGDPEFFOUSZQPJOUT Q 

     *GUIFQSFWJPVTTUFQTGBJMFEUPDPNQJMFUIFTDSJQU UIFOTFUUIFDPSSFTQPOEJOH FWFOUIBOEMFS Q UPOVMMBOE


    BCPSUUIFTFTUFQT

     4FUVQUIF TDSJQUTHMPCBMPCKFDU Q UIF TDSJQUTCSPXTJOHDPOUFYU Q UIF TDSJQUTEPDVNFOU Q UIF TDSJQUT
    63-DIBSBDUFSFODPEJOH Q BOEUIF TDSJQUTCBTF63- Q GSPN UIFTDSJQUTFUUJOHTEFUFSNJOFEGSPNUIF
    OPEF Q POXIJDIUIFBUUSJCVUFJTCFJOHTFU

     4FUUIFDPSSFTQPOEJOH FWFOUIBOEMFS Q UPUIFBGPSFNFOUJPOFEGVODUJPO

    8IFOBOFWFOUIBOEMFSDPOUFOUBUUSJCVUFJTSFNPWFE UIFVTFSBHFOUNVTUTFUUIFDPSSFTQPOEJOH FWFOUIBOEMFS Q UP


    OVMM

    *HM> 3A>G:G >O>GMA:G=E>K<HGM>GM:MMKB;NM> I BLL>MHG:G>E>F>GMHPG>=;R: #H<NF>GM I


    MA:MBLGHMBG: ;KHPLBG@<HGM>QM I MA><HKK>LIHG=BG@>O>GMA:G=E>KBLGHM<A:G@>=

    
    "MM FWFOUIBOEMFST Q POBOPCKFDU XIFUIFSBOFMFNFOUPSTPNFPUIFSPCKFDU BOEXIFUIFSTFUUPOVMMPSUPB
    'VODUJPO Q PCKFDU NVTUCFSFHJTUFSFEBTFWFOUMJTUFOFSTPOUIFPCKFDUXIFOJUJTDSFBUFE BTJGUIF
    BEE&WFOU-JTUFOFS
    NFUIPEPOUIFPCKFDUT &WFOU5BSHFU Q JOUFSGBDFIBECFFOJOWPLFE XJUIUIFFWFOUUZQF CH?4
    BSHVNFOU
    FRVBMUPUIFUZQFDPSSFTQPOEJOHUPUIFFWFOUIBOEMFS UIF ?P?HNB;H>F?L?P?HNNSJ?
    UIFMJTUFOFSTFUUP
    CFBUBSHFUBOECVCCMJOHQIBTFMJTUFOFS DB40?CDA4 BSHVNFOUTFUUPGBMTF
    BOEUIFFWFOUMJTUFOFSJUTFMG ;8BC4=4A
    BSHVNFOU
    TFUUPEPOPUIJOHXIJMFUIFFWFOUIBOEMFSTWBMVFJTOPUB 'VODUJPO Q PCKFDU BOETFUUPJOWPLFUIF
    DBMM
    Q DBMMCBDLPGUIF 'VODUJPO Q PCKFDUBTTPDJBUFEXJUIUIFFWFOUIBOEMFSPUIFSXJTF

    *HM> !O>GMA:G=E>KL I MA>K>?HK> :EP:RL[K>;>?HK>>O>GMEBLM>G>KL:MM:<A>=NLBG@


    :==$O>GM*BLM>G>K

    *HM> 0A> EBLM>G>K :K@NF>GMBL>FIA:MB<:EER GHM MA> >O>GMA:G=E>K I BML>E?

    *HM> 0A>BGM>K?:<>LBFIE>F>GM>=;RMA>>O>GMH;C><M=HGHMBG\N>G<>PA>MA>K:G >O>GM


    A:G=E>K I BLMKB@@>K>=HKGHM

    8IFOBO FWFOUIBOEMFS Q T 'VODUJPO Q PCKFDUJTJOWPLFE JUT DBMM


    Q DBMMCBDLNVTUCFJOWPLFEXJUIPOF
    BSHVNFOU TFUUPUIF &WFOU Q PCKFDUPGUIFFWFOUJORVFTUJPO

    5IFIBOEMFSTSFUVSOWBMVFNVTUUIFOCFQSPDFTTFEBTGPMMPXT

    X %@NB??P?HNNSJ?CM HJPN@JQ@M
    *GUIFSFUVSOWBMVFJTBCPPMFBOXJUIUIFWBMVFUSVF UIFOUIFFWFOUNVTUCFDBODFMFE
    K
    X %@NB??P?HNI<D?=NCM; @AJM@3IGJ<?#Q@IO I<D?=N
    *GUIFSFUVSOWBMVFJTBTUSJOH BOEUIFFWFOUPCKFDUT SFUVSO7BMVF Q BUUSJCVUFTWBMVFJTUIFFNQUZTUSJOH
    UIFOTFUUIF SFUVSO7BMVF Q BUUSJCVUFTWBMVFUPUIFSFUVSOWBMVF

    X +NB?LQCM?
    *GUIFSFUVSOWBMVFJTBCPPMFBOXJUIUIFWBMVFGBMTF UIFOUIFFWFOUNVTUCFDBODFMFE

    5IF 'VODUJPO Q JOUFSGBDFSFQSFTFOUTBGVODUJPOJOUIFTDSJQUJOHMBOHVBHFCFJOHVTFE*UJTSFQSFTFOUFEJO*%-BT


    GPMMPXT

    <$BMMCBDL'VODUJPO0OMZ /P*OUFSGBDF0CKFDU>
    JOUFSGBDF $PI>ODJI \
    BOZ DBMM JOBOZBSHVNFOUT
    
    ^

    5IF ><GG  NFUIPEJTUIFPCKFDUTDBMMCBDL

    *HM> %G&:O:/<KBIM :GR %NG<MBHG H;C><MBFIE>F>GMLMABLBGM>K?:<>

    *GUIF 'VODUJPO Q PCKFDUJTB+BWB4DSJQU 'VODUJPO UIFOXIFOJUJTJOWPLFECZUIFVTFSBHFOU UIFVTFSBHFOUNVTUTFU


    UIF C78BA6 BTEFИOFECZ&$."4DSJQUFEJUJPOTFDUJPO&OUFSJOH'VODUJPO$PEF
    UPUIF FWFOUIBOEMFS Q T
    PCKFDU <&$."> Q

    'PSFYBNQMF UIFGPMMPXJOHEPDVNFOUGSBHNFOU

    CPEZPOMPBEBMFSU UIJT
    PODMJDLBMFSU UIJT
    

    MFBETUPBOBMFSUTBZJOH<PCKFDU 8JOEPX>XIFOUIFEPDVNFOUJTMPBEFE BOEBOBMFSUTBZJOH


    <PCKFDU )5.-#PEZ&MFNFOU>XIFOFWFSUIFVTFSDMJDLTTPNFUIJOHJOUIFQBHF

    5IFSFUVSOWBMVFPGUIFGVODUJPOJTBЗFDUTXIFUIFSUIFFWFOUJTDBODFMFEPSOPU BTEFTDSJCFEBCPWF JGUIFSFUVSOWBMVF


    JTGBMTF UIFFWFOUJTDBODFMFE FYDFQUGPS NPVTFPWFS FWFOUT XIFSFUIFSFUVSOWBMVFIBTUPCFUSVFUPDBODFMUIF
    FWFOU
    8JUI CFGPSFVOMPBE FWFOUT UIFWBMVFJTJOTUFBEVTFEUPEFUFSNJOFUIFNFTTBHFUPTIPXUIFVTFS

        !P?HNB;H>F?LMIH?F?G?HNM
    "J>PH@IO K I<D?=NM
    ;H> 5DI?JR K I<D?=NM

    5IFGPMMPXJOHBSFUIF FWFOUIBOEMFST Q BOEUIFJSDPSSFTQPOEJOH FWFOUIBOEMFSFWFOUUZQFT Q


    UIBUNVTUCF
    TVQQPSUFECZBMM )5.-FMFNFOUT Q BTCPUIDPOUFOUBUUSJCVUFTBOE*%-BUUSJCVUFT BOEPO %PDVNFOU Q BOE 8JOEPX Q
    PCKFDUT BT*%-BUUSJCVUFT

    
    !P?HNB;H>F?L J !P?HNB;H>F?L?P?HNNSJ? J

    JI<=JMO BCPSU
    JI><IKG<T DBOQMBZ Q
    JI><IKG<TOCMJPBC DBOQMBZUISPVHI Q
    JI>C<IB@ DIBOHF
    JI>GD>F DMJDL Q
    JI>JIO@SOH@IP DPOUFYUNFOV
    JI?=G>GD>F ECMDMJDL
    JI?M<B ESBH Q
    JI?M<B@I? ESBHFOE Q
    JI?M<B@IO@M ESBHFOUFS Q
    JI?M<BG@<Q@ ESBHMFBWF Q
    JI?M<BJQ@M ESBHPWFS Q
    JI?M<BNO<MO ESBHTUBSU Q
    JI?MJK ESPQ Q
    JI?PM<ODJI>C<IB@ EVSBUJPODIBOHF Q
    JI@HKOD@? FNQUJFE Q
    JI@I?@? FOEFE Q
    JIAJMH>C<IB@ GPSNDIBOHF
    JIAJMHDIKPO GPSNJOQVU
    JIDIKPO JOQVU
    JIDIQ<GD? JOWBMJE
    JIF@T?JRI LFZEPXO
    JIF@TKM@NN LFZQSFTT
    JIF@TPK LFZVQ
    JIGJ<?@??<O< MPBEFEEBUB Q
    JIGJ<?@?H@O<?<O< MPBEFENFUBEBUB Q
    JIGJ<?NO<MO MPBETUBSU Q
    JIHJPN@?JRI NPVTFEPXO
    JIHJPN@HJQ@ NPVTFNPWF
    JIHJPN@JPO NPVTFPVU
    JIHJPN@JQ@M NPVTFPWFS
    JIHJPN@PK NPVTFVQ
    JIHJPN@RC@@G NPVTFXIFFM
    JIK<PN@ QBVTF Q
    JIKG<T QMBZ Q
    JIKG<TDIB QMBZJOH Q
    JIKMJBM@NN QSPHSFTT Q
    JIM<O@>C<IB@ SBUFDIBOHF Q
    JIM@<?TNO<O@>C<IB@ SFBEZTUBUFDIBOHF
    JIN>MJGG TDSPMM
    JIN@@F@? TFFLFE Q
    JIN@@FDIB TFFLJOH Q
    JIN@G@>O TFMFDU
    JINCJR TIPX
    JINO<GG@? TUBMMFE Q
    JINP=HDO TVCNJU
    JINPNK@I? TVTQFOE Q
    JIODH@PK?<O@ UJNFVQEBUF Q
    JIQJGPH@>C<IB@ WPMVNFDIBOHF Q
    JIR<DODIB XBJUJOH Q

    5IFGPMMPXJOHBSFUIF FWFOUIBOEMFST Q BOEUIFJSDPSSFTQPOEJOH FWFOUIBOEMFSFWFOUUZQFT Q


    UIBUNVTUCF
    TVQQPSUFECZBMM )5.-FMFNFOUT Q PUIFSUIBO CPEZ Q BTCPUIDPOUFOUBUUSJCVUFTBOE*%-BUUSJCVUFT BOEPO
    %PDVNFOU Q PCKFDUT BT*%-BUUSJCVUFT

    !P?HNB;H>F?L J !P?HNB;H>F?L?P?HNNSJ? J

    JI=GPM CMVS

    
    !P?HNB;H>F?L J !P?HNB;H>F?L?P?HNNSJ? J
    JI@MMJM FSSPS
    JIAJ>PN GPDVT
    JIGJ<? MPBE

    5IFGPMMPXJOHBSFUIF FWFOUIBOEMFST Q BOEUIFJSDPSSFTQPOEJOH FWFOUIBOEMFSFWFOUUZQFT Q


    UIBUNVTUCF
    TVQQPSUFECZ 8JOEPX Q PCKFDUT BT*%-BUUSJCVUFTPOUIF 8JOEPX Q PCKFDU BOEXJUIDPSSFTQPOEJOHDPOUFOUBUUSJCVUFT
    BOE*%-BUUSJCVUFTFYQPTFEPOUIF CPEZ Q BOE GSBNFTFU Q FMFNFOUT

    !P?HNB;H>F?L J !P?HNB;H>F?L?P?HNNSJ? J

    JI<AO@MKMDIO BGUFSQSJOU
    JI=@AJM@KMDIO CFGPSFQSJOU
    JI=@AJM@PIGJ<? CFGPSFVOMPBE
    JI=GPM CMVS
    JI@MMJM FSSPS
    JIAJ>PN GPDVT
    JIC<NC>C<IB@ IBTIDIBOHF Q
    JIGJ<? MPBE
    JIH@NN<B@ NFTTBHF Q
    JIJAAGDI@ PGGMJOF Q
    JIJIGDI@ POMJOF Q
    JIK<B@CD?@ QBHFIJEF Q
    JIK<B@NCJR QBHFTIPX Q
    JIKJKNO<O@ QPQTUBUF Q
    JIM@?J SFEP Q
    JIM@NDU@ SFTJ[F
    JINOJM<B@ TUPSBHF
    JIPI?J VOEP Q
    JIPIGJ<? VOMPBE

    *HM> 0A> HG>KKHK I A:G=E>KBL:ELHNL>=?HK K>IHKMBG@L<KBIM>KKHKL I

        !P?HN]LCHA

    $FSUBJOPQFSBUJPOTBOENFUIPETBSFEFИOFEBTИSJOHFWFOUTPOFMFNFOUT'PSFYBNQMF UIF DMJDL


    Q NFUIPEPOUIF
    )5.-&MFNFOU Q JOUFSGBDFJTEFИOFEBTИSJOHB DMJDL Q FWFOUPOUIFFMFNFOU <%0.&7&/54> Q

    "CLCHA; >GD>F ?P?HN NFBOTUIBUB DMJDL Q FWFOU XIJDICVCCMFTBOEJTDBODFMBCMF BOEXIJDIVTFTUIF .PVTF&WFOU
    JOUFSGBDF NVTUCFEJTQBUDIFEBUUIFHJWFOUBSHFU5IFFWFOUPCKFDUNVTUIBWFJUT TDSFFO9 TDSFFO: DMJFOU9
    DMJFOU: BOE CVUUPO BUUSJCVUFTTFUUP JUT DUSM,FZ TIJGU,FZ BMU,FZ BOE NFUB,FZ BUUSJCVUFTTFUBDDPSEJOHUPUIF
    DVSSFOUTUBUFPGUIFLFZJOQVUEFWJDF JGBOZ GBMTFGPSBOZLFZTUIBUBSFOPUBWBJMBCMF
    JUT EFUBJM BUUSJCVUFTFUUP BOE
    JUT SFMBUFE5BSHFU BUUSJCVUFTFUUPOVMM5IF HFU.PEJGJFS4UBUF
    NFUIPEPOUIFPCKFDUNVTUSFUVSOWBMVFT
    BQQSPQSJBUFMZEFTDSJCJOHUIFTUBUFPGUIFLFZJOQVUEFWJDFBUUIFUJNFUIFFWFOUJTDSFBUFE

    "CLCHA;MCGJF??P?HNH;G?> > NFBOTUIBUBOFWFOUXJUIUIFOBNF 4 XIJDIEPFTOPUCVCCMF FYDFQUXIFSF


    PUIFSXJTFTUBUFE
    BOEJTOPUDBODFMBCMF FYDFQUXIFSFPUIFSXJTFTUBUFE
    BOEXIJDIVTFTUIF &WFOU Q JOUFSGBDF NVTU
    CFEJTQBUDIFEBUUIFHJWFOUBSHFU

    5IFEFGBVMUBDUJPOPGUIFTFFWFOUJTUPEPOPUIJOHFYDFQUXIFSFPUIFSXJTFTUBUFE

        !P?HNM;H>NB? 5DI?JR K I<D?=N

    8IFOBOFWFOUJTEJTQBUDIFEBUB%0.OPEFJOB %PDVNFOU Q JOB CSPXTJOHDPOUFYU Q JGUIFFWFOUJTOPUB MPBE


    FWFOU UIFVTFSBHFOUNVTUBMTPEJTQBUDIUIFFWFOUUPUIF 8JOEPX Q BTGPMMPXT

     *OUIFDBQUVSFQIBTF UIFFWFOUNVTUQSPQBHBUFUPUIF 8JOEPX Q PCKFDUCFGPSFQSPQBHBUJOHUPBOZPGUIF


    OPEFT BTJGUIF 8JOEPX Q PCKFDUXBTUIFQBSFOUPGUIF %PDVNFOU Q JOUIFEJTQBUDIDIBJO

     *OUIFCVCCMFQIBTF UIFFWFOUNVTUQSPQBHBUFVQUPUIF 8JOEPX Q PCKFDUBUUIFFOEPGUIFQIBTF VOMFTT


    CVCCMJOHIBTCFFOQSFWFOUFE BHBJOBTJGUIF 8JOEPX Q PCKFDUXBTUIFQBSFOUPGUIF %PDVNFOU Q JOUIF
    EJTQBUDIDIBJO

    
        .OHNCG?M=LCJN?LLILM

    *78BB42C8>=>=;H0??;84BC>DB4A064=CBC70CBD??>ACB2A8?C8=68=64=4A0;0=3 0E0)2A8?C8=?0AC82D;0A

    8IFOFWFSBOVODBVHIUSVOUJNFTDSJQUFSSPSPDDVSTJOPOFPGUIFTDSJQUTBTTPDJBUFEXJUIB %PDVNFOU Q UIFVTFSBHFOU


    NVTU SFQPSUUIFFSSPS Q VTJOHUIF POFSSPS Q FWFOUIBOEMFS Q PGUIF TDSJQUTHMPCBMPCKFDU Q *GUIFFSSPSJTTUJMM =>C
    70=3;43 ?  BGUFSUIJT UIFOUIFFSSPSNBZCFSFQPSUFEUPUIFVTFS

    8IFOUIFVTFSBHFOUJTSFRVJSFEUP L?JILN;H?LLIL 4AA>A VTJOHUIF FWFOUIBOEMFS Q >=4AA>A JUNVTUSVOUIFTFTUFQT


    BGUFSXIJDIUIFFSSPSJTFJUIFS A:G=E>= PS GHMA:G=E>=
    K
    X %@NB?P;FO?I@ HG>KKHK CM; $PI>ODJI
    5IFGVODUJPONVTUCFJOWPLFEXJUIUISFFBSHVNFOUT5IFUISFFBSHVNFOUTQBTTFEUPUIFGVODUJPOBSFBMM
    %0.4USJOHTUIFИSTUNVTUHJWFUIFNFTTBHFUIBUUIF6"JTDPOTJEFSJOHSFQPSUJOH UIFTFDPOENVTUHJWFUIF
    BCTPMVUF63- Q PGUIFSFTPVSDFJOXIJDIUIFFSSPSPDDVSSFE BOEUIFUIJSENVTUHJWFUIFMJOFOVNCFSJOUIBU
    SFTPVSDFPOXIJDIUIFFSSPSPDDVSSFE

    *GUIFGVODUJPOSFUVSOTGBMTF UIFOUIFFSSPSJT 70=3;43 ?  0UIFSXJTF UIFFSSPSJT =>C70=3;43 ?  

    "OZVODBVHIUFYDFQUJPOTUISPXOPSFSSPSTDBVTFECZUIJTGVODUJPONBZCFSFQPSUFEUPUIFVTFSJNNFEJBUFMZ
    BGUFSUIFFSSPSUIBUUIFGVODUJPOXBTDBMMFEGPSUIF SFQPSUBOFSSPS Q BMHPSJUINNVTUOPUCFVTFEUPIBOEMF
    FYDFQUJPOTUISPXOPSFSSPSTDBVTFECZUIJTGVODUJPO

    X +NB?LQCM?
    5IFFSSPSJT =>C70=3;43 ?  

      0CG?LM

    5IF TFU5JNFPVU
    Q BOE TFU*OUFSWBM
    Q NFUIPETBMMPXBVUIPSTUPTDIFEVMFUJNFSCBTFEDBMMCBDLT

    <4VQQMFNFOUBM /P*OUFSGBDF0CKFDU>
    JOUFSGBDF 5DI?JR2DH@MN \
    MPOH TFU5JNFPVU JOBOZIBOEMFS JOPQUJPOBMBOZUJNFPVU JOBOZBSHT
    
    WPJE DMFBS5JNFPVU JOMPOHIBOEMF
    
    MPOH TFU*OUFSWBM JOBOZIBOEMFS JOPQUJPOBMBOZUJNFPVU JOBOZBSHT
    
    WPJE DMFBS*OUFSWBM JOMPOHIBOEMF
    
    ^
    8JOEPX JNQMFNFOUT 8JOEPX5JNFST

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    A:G=E>  PBG=HP N@O2DH@JPO K  A:G=E>K 7
    MBF>HNM 7
    :K@NF>GML 88
    4DIFEVMFTBUJNFPVUUPSVO 70=3;4A BGUFS C8<4>DC NJMMJTFDPOET"OZ 0A6D<4=CB BSFQBTTFETUSBJHIUUISPVHI
    UPUIF 70=3;4A

    A:G=E>  PBG=HP N@O2DH@JPO K  <H=> 7


    MBF>HNM 8
    4DIFEVMFTBUJNFPVUUPDPNQJMFBOESVO 2>34 BGUFS C8<4>DC NJMMJTFDPOET

    PBG=HP >G@<M2DH@JPO K  A:G=E> 


    $BODFMTUIFUJNFPVUTFUXJUI TFU5JNFPVU
    Q JEFOUJИFECZ 70=3;4

    A:G=E>  PBG=HP N@O'IO@MQ<G K  A:G=E>K 7


    MBF>HNM 7
    :K@NF>GML 88
    4DIFEVMFTBUJNFPVUUPSVO 70=3;4A FWFSZ C8<4>DC NJMMJTFDPOET"OZ 0A6D<4=CB BSFQBTTFETUSBJHIU
    UISPVHIUPUIF 70=3;4A

    A:G=E>  PBG=HP N@O'IO@MQ<G K  <H=> 7


    MBF>HNM 8
    4DIFEVMFTBUJNFPVUUPDPNQJMFBOESVO 2>34 FWFSZ C8<4>DC NJMMJTFDPOET

    PBG=HP >G@<M'IO@MQ<G K  A:G=E> 


    $BODFMTUIFUJNFPVUTFUXJUI TFU*OUFSWBM
    Q JEFOUJИFECZ 70=3;4

    
    *HM> 0ABL,%=H>LGHM@N:K:GM>>MA:MMBF>KLPBEE[K>>Q:<MERHGL<A>=NE>  >E:RL=N>MH,1
    EH:= HMA>KM:LDL >M< :K>MH;>>QI><M>=

    *HM> 0A> 5BG=HP2BF>KL I BGM>K?:<>:==LMHMA> 5BG=HP I BGM>K?:<>:G=MA> 5HKD>K3MBEL BGM>K?:<>
    I:KMH?3>;3HKD>KL

    &BDIPCKFDUUIBUJNQMFNFOUTUIF 8JOEPX5JNFST Q JOUFSGBDFIBTB FCMNI@;=NCP?NCG?IONM BOEB FCMNI@;=NCP?


    CHN?LP;FM&BDIFOUSZJOUIFTFMJTUTJTJEFOUJИFECZBOVNCFS XIJDINVTUCFVOJRVFXJUIJOJUTMJTUGPSUIFMJGFUJNFPGUIF
    PCKFDUUIBUJNQMFNFOUTUIF 8JOEPX5JNFST Q JOUFSGBDF

    5IF N@O2DH@JPO NFUIPENVTUSVOUIFGPMMPXJOHTUFQT

     -FU 70=3;4 CFBVTFSBHFOUEFИOFEJOUFHFSUIBUJTHSFBUFSUIBO[FSPUIBUXJMMJEFOUJGZUIFUJNFPVUUPCFTFUCZ


    UIJTDBMM

     "EEBOFOUSZUPUIF MJTUPGBDUJWFUJNFPVUT Q GPS 70=3;4

     (FUUIFUJNFEUBTL Q 70=3;4 JOUIF MJTUPGBDUJWFUJNFPVUT Q BOEMFU C0B: CFUIFSFTVMU

     (FUUIFUJNFPVU Q BOEMFU C8<4>DC CFUIFSFTVMU

     *GUIFDVSSFOUMZSVOOJOH UBTL Q JTBUBTLUIBUXBTDSFBUFECZUIF TFU5JNFPVU


    Q NFUIPE BOE C8<4>DC JT
    MFTTUIBO UIFOJODSFBTF C8<4>DC UP

     3FUVSO 70=3;4 BOEUIFODPOUJOVFSVOOJOHUIJTBMHPSJUINBTZODISPOPVTMZ

     *GUIF NFUIPEDPOUFYU Q JTB 8JOEPX Q PCKFDU XBJUVOUJMUIF %PDVNFOU Q BTTPDJBUFEXJUIUIF NFUIPE
    DPOUFYU Q IBTCFFO GVMMZBDUJWF Q GPSBGVSUIFS C8<4>DC NJMMJTFDPOET OPUOFDFTTBSJMZDPOTFDVUJWFMZ
    

    0UIFSXJTF JGUIF NFUIPEDPOUFYU Q JTB 8PSLFS6UJMT PCKFDU XBJUVOUJM C8<4>DC NJMMJTFDPOETIBWFQBTTFE
    XJUIUIFXPSLFSOPUTVTQFOEFE OPUOFDFTTBSJMZDPOTFDVUJWFMZ
    

    0UIFSXJTF BDUBTEFTDSJCFEJOUIFTQFDJИDBUJPOUIBUEFИOFTUIBUUIF 8JOEPX5JNFST Q JOUFSGBDFJT


    JNQMFNFOUFECZTPNFPUIFSPCKFDU

     8BJUVOUJMBOZJOWPDBUJPOTPGUIJTBMHPSJUINTUBSUFECFGPSFUIJTPOFXIPTF C8<4>DC JTFRVBMUPPSMFTTUIBOUIJT


    POFTIBWFDPNQMFUFE

     2VFVF Q UIF C0B: UBTL Q 

    5IF >G@<M2DH@JPO NFUIPENVTUDMFBSUIFFOUSZJEFOUJИFEBT 70=3;4 GSPNUIF MJTUPGBDUJWFUJNFPVUT Q PGUIF


    8JOEPX5JNFST Q PCKFDUPOXIJDIUIFNFUIPEXBTJOWPLFE XIFSF 70=3;4 JTUIFBSHVNFOUQBTTFEUPUIFNFUIPE

    5IF N@O'IO@MQ<G NFUIPENVTUSVOUIFGPMMPXJOHTUFQT

     -FU 70=3;4 CFBVTFSBHFOUEFИOFEJOUFHFSUIBUJTHSFBUFSUIBO[FSPUIBUXJMMJEFOUJGZUIFJOUFSWBMUPCFTFUCZ


    UIJTDBMM

     "EEBOFOUSZUPUIF MJTUPGBDUJWFJOUFSWBMT Q GPS 70=3;4

     (FUUIFUJNFEUBTL Q 70=3;4 JOUIF MJTUPGBDUJWFJOUFSWBMT Q BOEMFU C0B: CFUIFSFTVMU

     (FUUIFUJNFPVU Q BOEMFU C8<4>DC CFUIFSFTVMU

     *G C8<4>DC JTMFTTUIBO UIFOJODSFBTF C8<4>DC UP

     3FUVSO 70=3;4 BOEUIFODPOUJOVFSVOOJOHUIJTBMHPSJUINBTZODISPOPVTMZ

     -08C*GUIF NFUIPEDPOUFYU Q JTB 8JOEPX Q PCKFDU XBJUVOUJMUIF %PDVNFOU Q BTTPDJBUFEXJUIUIF NFUIPE
    DPOUFYU Q IBTCFFO GVMMZBDUJWF Q GPSBGVSUIFS 8=C4AE0; NJMMJTFDPOET OPUOFDFTTBSJMZDPOTFDVUJWFMZ
    

    0UIFSXJTF JGUIF NFUIPEDPOUFYU Q JTB 8PSLFS6UJMT PCKFDU XBJUVOUJM 8=C4AE0; NJMMJTFDPOETIBWFQBTTFE
    XJUIUIFXPSLFSOPUTVTQFOEFE OPUOFDFTTBSJMZDPOTFDVUJWFMZ
    

    0UIFSXJTF BDUBTEFTDSJCFEJOUIFTQFDJИDBUJPOUIBUEFИOFTUIBUUIF 8JOEPX5JNFST Q JOUFSGBDFJT


    JNQMFNFOUFECZTPNFPUIFSPCKFDU

     2VFVF Q UIF C0B: UBTL Q 

    
     3FUVSOUPUIFTUFQMBCFMFE F08C

    5IF >G@<M'IO@MQ<G NFUIPENVTUDMFBSUIFFOUSZJEFOUJИFEBT 70=3;4 GSPNUIF MJTUPGBDUJWFJOUFSWBMT Q PGUIF


    8JOEPX5JNFST Q PCKFDUPOXIJDIUIFNFUIPEXBTJOWPLFE XIFSF 70=3;4 JTUIFBSHVNFOUQBTTFEUPUIFNFUIPE

    5IF G?NBI>=IHN?RN XIFOSFGFSFODFECZUIFBMHPSJUINTJOUIJTTFDUJPO JTUIFPCKFDUPOXIJDIUIFNFUIPEGPSXIJDI


    UIFBMHPSJUINJTSVOOJOHJTJNQMFNFOUFE B 8JOEPX Q PS 8PSLFS6UJMT PCKFDU
    

    8IFOUIFBCPWFNFUIPETBSFJOWPLFEBOEUSZUP A?NNB?NCG?>N;ME 70=3;4 JOMJTU ;8BC UIFZNVTUSVOUIFGPMMPXJOH


    TUFQT

     *GUIFИSTUBSHVNFOUUPUIFJOWPLFENFUIPEJTBOPCKFDUUIBUIBTBOJOUFSOBM<<$BMM>>NFUIPE UIFOSFUVSOB
    UBTL Q UIBUDIFDLTJGUIFFOUSZGPS 70=3;4 JO ;8BC IBTCFFODMFBSFE BOEJGJUIBTOPU DBMMTUIFBGPSFNFOUJPOFE
    <<$BMM>>NFUIPEXJUIBTJUTBSHVNFOUTUIFUIJSEBOETVCTFRVFOUBSHVNFOUTUPUIFJOWPLFENFUIPE JGBOZ

    BOEBCPSUUIFTFTUFQT

    0UIFSXJTF DPOUJOVFXJUIUIFSFNBJOJOHTUFQT

     "QQMZUIF5P4USJOH
    BCTUSBDUPQFSBUJPOUPUIFИSTUBSHVNFOUUPUIFNFUIPE BOEMFU B2A8?CB>DA24 CFUIF
    SFTVMU <&$."> Q

     -FU B2A8?C;0=6D064 CF+BWB4DSJQU

     *GUIF NFUIPEDPOUFYU Q JTB 8JOEPX Q PCKFDU MFU 6;>10;>1942C CFUIF NFUIPEDPOUFYU Q MFU 1A>FB8=6
    2>=C4GC CFUIF CSPXTJOHDPOUFYU Q XJUIXIJDI 6;>10;>1942C JTBTTPDJBUFE MFU 270A02C4A4=2>38=6 CFUIF
    DIBSBDUFSFODPEJOH Q PGUIF %PDVNFOU Q BTTPDJBUFEXJUI 6;>10;>1942C UIJTJTBSFGFSFODF OPUBDPQZ Q

    BOEMFU 10B4+(" CFUIF CBTF63- Q PGUIF %PDVNFOU Q BTTPDJBUFEXJUI 6;>10;>1942C UIJTJTBSFGFSFODF OPU
    BDPQZ Q
    

    0UIFSXJTF JGUIF NFUIPEDPOUFYU Q JTB 8PSLFS6UJMT PCKFDU MFU 6;>10;>1942C 1A>FB8=62>=C4GC 3>2D<4=C
    270A02C4A4=2>38=6 BOE 10B4+(" CFUIF TDSJQUTHMPCBMPCKFDU Q TDSJQUTCSPXTJOHDPOUFYU Q TDSJQUT
    EPDVNFOU Q TDSJQUT63-DIBSBDUFSFODPEJOH Q BOE TDSJQUTCBTF63- Q SFTQFDUJWFMZ
    PGUIF TDSJQU Q
    UIBUUIF SVOBXPSLFS BMHPSJUINDSFBUFEXIFOJUDSFBUFEUIF NFUIPEDPOUFYU Q 

    0UIFSXJTF BDUBTEFTDSJCFEJOUIFTQFDJИDBUJPOUIBUEFИOFTUIBUUIF 8JOEPX5JNFST Q JOUFSGBDFJT


    JNQMFNFOUFECZTPNFPUIFSPCKFDU

     3FUVSOB UBTL Q UIBUDIFDLTJGUIFFOUSZGPS 70=3;4 JO ;8BC IBTCFFODMFBSFE BOEJGJUIBTOPU DSFBUFTB


    TDSJQU Q VTJOH B2A8?CB>DA24 BTUIFTDSJQUTPVSDF B2A8?C8=6;0=6D064 BTUIFTDSJQUJOHMBOHVBHF 6;>10;>1942C
    BTUIFHMPCBMPCKFDU 1A>FB8=62>=C4GC BTUIFCSPXTJOHDPOUFYU 3>2D<4=C BTUIFEPDVNFOU 270A02C4A
    4=2>38=6 BTUIF63-DIBSBDUFSFODPEJOH BOE 10B4+(" BTUIFCBTF63-

    8IFOUIFBCPWFNFUIPETBSFUP A?NNB?NCG?ION UIFZNVTUSVOUIFGPMMPXJOHTUFQT

     -FU C8<4>DC CFUIFTFDPOEBSHVNFOUUPUIFNFUIPE PS[FSPJGUIFBSHVNFOUXBTPNJUUFE

     "QQMZUIF5P4USJOH
    BCTUSBDUPQFSBUJPOUP C8<4>DC BOEMFU C8<4>DC CFUIFSFTVMU <&$."> Q

     "QQMZUIF5P/VNCFS
    BCTUSBDUPQFSBUJPOUP C8<4>DC BOEMFU C8<4>DC CFUIFSFTVMU <&$."> Q

     *G C8<4>DC JTBO*OИOJUZWBMVF B/PUB/VNCFS /B/


    WBMVF PSOFHBUJWF MFU C8<4>DC CF[FSP

     3PVOE C8<4>DC EPXOUPUIFOFBSFTUJOUFHFS BOEMFU C8<4>DC CFUIFSFTVMU

     3FUVSO C8<4>DC

    5IF UBTLTPVSDF Q GPSUIFTF UBTLT Q JTUIF NCG?LN;MEMIOL=?

      1M?LJLIGJNM

       /CGJF?>C;FIAM

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G

    
    PBG=HP <G@MO K F>LL:@>
    %JTQMBZTBNPEBMBMFSUXJUIUIFHJWFONFTTBHF BOEXBJUTGPSUIFVTFSUPEJTNJTTJU
    "DBMMUPUIF OBWJHBUPSZJFME'PS4UPSBHF6QEBUFT
    Q NFUIPEJTJNQMJFEXIFOUIJTNFUIPEJTJOWPLFE

    K>LNEM  PBG=HP >JIADMH K F>LL:@>


    %JTQMBZTBNPEBM0,$BODFMQSPNQUXJUIUIFHJWFONFTTBHF XBJUTGPSUIFVTFSUPEJTNJTTJU BOESFUVSOT
    USVFJGUIFVTFSDMJDLT0,BOEGBMTFJGUIFVTFSDMJDLT$BODFM
    "DBMMUPUIF OBWJHBUPSZJFME'PS4UPSBHF6QEBUFT
    Q NFUIPEJTJNQMJFEXIFOUIJTNFUIPEJTJOWPLFE

    K>LNEM  PBG=HP KMJHKO K F>LL:@> 7


    =>?:NEM8
    %JTQMBZTBNPEBMUFYUИFMEQSPNQUXJUIUIFHJWFONFTTBHF XBJUTGPSUIFVTFSUPEJTNJTTJU BOESFUVSOTUIF
    WBMVFUIBUUIFVTFSFOUFSFE*GUIFVTFSDBODFMTUIFQSPNQU UIFOSFUVSOTOVMMJOTUFBE*GUIFTFDPOE
    BSHVNFOUJTQSFTFOU UIFOUIFHJWFOWBMVFJTVTFEBTBEFGBVMU
    "DBMMUPUIF OBWJHBUPSZJFME'PS4UPSBHF6QEBUFT
    Q NFUIPEJTJNQMJFEXIFOUIJTNFUIPEJTJOWPLFE

    5IF <G@MOF>LL:@> NFUIPE XIFOJOWPLFE NVTUSFMFBTFUIF TUPSBHFNVUFY Q BOETIPXUIFHJWFO <4BB064 UPUIF
    VTFS5IFVTFSBHFOUNBZNBLFUIFNFUIPEXBJUGPSUIFVTFSUPBDLOPXMFEHFUIFNFTTBHFCFGPSFSFUVSOJOHJGTP UIF
    VTFSBHFOUNVTU QBVTF Q XIJMFUIFNFUIPEJTXBJUJOH

    5IF >JIADMHF>LL:@> NFUIPE XIFOJOWPLFE NVTUSFMFBTFUIF TUPSBHFNVUFY Q BOETIPXUIFHJWFO <4BB064 UP


    UIFVTFS BOEBTLUIFVTFSUPSFTQPOEXJUIBQPTJUJWFPSOFHBUJWFSFTQPOTF5IFVTFSBHFOUNVTUUIFO QBVTF Q BTUIF
    NFUIPEXBJUTGPSUIFVTFSTSFTQPOTF*GUIFVTFSSFTQPOETQPTJUJWFMZ UIFNFUIPENVTUSFUVSOUSVF BOEJGUIFVTFS
    SFTQPOETOFHBUJWFMZ UIFNFUIPENVTUSFUVSOGBMTF

    5IF KMJHKOF>LL:@> =>?:NEM NFUIPE XIFOJOWPLFE NVTUSFMFBTFUIF TUPSBHFNVUFY Q TIPXUIFHJWFO <4BB064
    UPUIFVTFS BOEBTLUIFVTFSUPFJUIFSSFTQPOEXJUIBTUSJOHWBMVFPSBCPSU5IFVTFSBHFOUNVTUUIFO QBVTF Q BTUIF
    NFUIPEXBJUTGPSUIFVTFSTSFTQPOTF5IFTFDPOEBSHVNFOUJTPQUJPOBM*GUIFTFDPOEBSHVNFOU 3450D;C
    JTQSFTFOU
    UIFOUIFSFTQPOTFNVTUCFEFGBVMUFEUPUIFWBMVFHJWFOCZ 3450D;C*GUIFVTFSBCPSUT UIFOUIFNFUIPENVTUSFUVSO
    OVMMPUIFSXJTF UIFNFUIPENVTUSFUVSOUIFTUSJOHUIBUUIFVTFSSFTQPOEFEXJUI

       ,LCHNCHA

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    PBG=HP KMDIO K 
    1SPNQUTUIFVTFSUPQSJOUUIFQBHF
    "DBMMUPUIF OBWJHBUPSZJFME'PS4UPSBHF6QEBUFT
    Q NFUIPEJTJNQMJFEXIFOUIJTNFUIPEJTJOWPLFE

    5IF KMDIO NFUIPE XIFOJOWPLFE NVTUSVOUIF QSJOUJOHTUFQT Q 

    6TFSBHFOUTTIPVMEBMTPSVOUIF QSJOUJOHTUFQT Q XIFOFWFSUIFVTFSBTLTGPSUIFPQQPSUVOJUZUP PCUBJOBQIZTJDBM


    GPSN Q FHQSJOUFEDPQZ
    PSUIFSFQSFTFOUBUJPOPGBQIZTJDBMGPSN FH1%'DPQZ
    PGBEPDVNFOU

    5IF JLCHNCHAMN?JM BSFBTGPMMPXT

     5IFVTFSBHFOUNBZEJTQMBZBNFTTBHFUPUIFVTFSBOEPSNBZBCPSUUIFTFTUFQT

    'PSJOTUBODF BLJPTLCSPXTFSDPVMETJMFOUMZJHOPSFBOZJOWPDBUJPOTPGUIF QSJOU


    Q NFUIPE

    'PSJOTUBODF BCSPXTFSPOBNPCJMFEFWJDFDPVMEEFUFDUUIBUUIFSFBSFOPQSJOUFSTJOUIFWJDJOJUZBOE
    EJTQMBZBNFTTBHFTBZJOHTPCFGPSFDPOUJOVJOHUPPЗFSBTBWFUP1%'PQUJPO

     5IFVTFSBHFOUNVTU ИSFBTJNQMFFWFOU Q OBNFE CFGPSFQSJOU BUUIF 8JOEPX Q PCKFDUPGUIF %PDVNFOU Q
    UIBUJTCFJOHQSJOUFE BTXFMMBTBOZ OFTUFECSPXTJOHDPOUFYUT Q JOJU

    5IF CFGPSFQSJOU FWFOUDBOCFVTFEUPBOOPUBUFUIFQSJOUFEDPQZ GPSJOTUBODFBEEJOHUIFUJNFBU


    XIJDIUIFEPDVNFOUXBTQSJOUFE

     5IFVTFSBHFOUNVTUSFMFBTFUIF TUPSBHFNVUFY Q 

    
     5IFVTFSBHFOUTIPVMEPЗFSUIFVTFSUIFPQQPSUVOJUZUP PCUBJOBQIZTJDBMGPSN Q PSUIFSFQSFTFOUBUJPOPGB
    QIZTJDBMGPSN
    PGUIFEPDVNFOU5IFVTFSBHFOUNBZXBJUGPSUIFVTFSUPFJUIFSBDDFQUPSEFDMJOFCFGPSF
    SFUVSOJOHJGTP UIFVTFSBHFOUNVTU QBVTF Q XIJMFUIFNFUIPEJTXBJUJOH&WFOJGUIFVTFSBHFOUEPFTOU
    XBJUBUUIJTQPJOU UIFVTFSBHFOUNVTUVTFUIFTUBUFPGUIFSFMFWBOUEPDVNFOUTBTUIFZBSFBUUIJTQPJOUJO
    UIFBMHPSJUINJGBOEXIFOJUFWFOUVBMMZDSFBUFTUIFBMUFSOBUFGPSN

     5IFVTFSBHFOUNVTU ИSFBTJNQMFFWFOU Q OBNFE BGUFSQSJOU BUUIF 8JOEPX Q PCKFDUPGUIF %PDVNFOU Q
    UIBUJTCFJOHQSJOUFE BTXFMMBTBOZ OFTUFECSPXTJOHDPOUFYUT Q JOJU

    5IF BGUFSQSJOU FWFOUDBOCFVTFEUPSFWFSUBOOPUBUJPOTBEEFEJOUIFFBSMJFSFWFOU BTXFMMBT


    TIPXJOHQPTUQSJOUJOH6*'PSJOTUBODF JGBQBHFJTXBMLJOHUIFVTFSUISPVHIUIFTUFQTPGBQQMZJOHGPSB
    IPNFMPBO UIFTDSJQUDPVMEBVUPNBUJDBMMZBEWBODFUPUIFOFYUTUFQBGUFSIBWJOHQSJOUFEBGPSNPS
    PUIFS

       C;FIAMCGJF?G?HN?>OMCHAM?J;L;N?>I=OG?HNM

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K>LNEM  PBG=HP NCJR+J?<G"D<GJB K NKE 7
    :K@NF>GM8
    1SPNQUTUIFVTFSXJUIUIFHJWFOQBHF XBJUTGPSUIBUQBHFUPDMPTF BOESFUVSOTUIFSFUVSOWBMVF
    "DBMMUPUIF OBWJHBUPSZJFME'PS4UPSBHF6QEBUFT
    Q NFUIPEJTJNQMJFEXIFOUIJTNFUIPEJTJOWPLFE

    5IF NCJR+J?<G"D<GJBNKE :K@NF>GM NFUIPE XIFOJOWPLFE NVTUDBVTFUIFVTFSBHFOUUPSVOUIFGPMMPXJOHTUFQT

     3FTPMWF Q DA; SFMBUJWFUPUIF FOUSZTDSJQU Q T CBTF63- Q 

    *GUIJTGBJMT UIFOUISPXB 4:/5"9@&33 Q FYDFQUJPOBOEBCPSUUIFTFTUFQT

     3FMFBTFUIF TUPSBHFNVUFY Q 

     *GUIFVTFSBHFOUJTDPOИHVSFETVDIUIBUUIJTJOWPDBUJPOPG TIPX.PEBM%JBMPH
    Q JTTPNFIPXEJTBCMFE UIFO
    SFUVSOUIFFNQUZTUSJOHBOEBCPSUUIFTFTUFQT

    *HM> 1L>K:@>GML:K>>QI><M>=MH=BL:;E>MABLF>MAH=BG<>KM:BG<:L>LMH:OHB=NL>K
    :GGHR:G<>> @ :LI:KMH?MA>BKIHINI;EH<D>K?>:MNK> "HKBGLM:G<> :NL>K:@>GM<HNE=
    K>JNBK>MA:M:LBM>;>PABM>
    EBLM>=;>?HK>>G:;EBG@MABLF>MAH= HKMA>NL>K:@>GM<HNE=
    ;><HG[@NK>=MHHGER:EEHPHG>FH=:E=B:EH@:M:MBF>

     -FU C74;8BC>5102:6A>D=31A>FB8=62>=C4GCB CFBMJTUPGBMMUIFCSPXTJOHDPOUFYUTUIBU

    Ǭ BSFQBSUPGUIFTBNF VOJUPGSFMBUFECSPXTJOHDPOUFYUT Q BTUIFCSPXTJOHDPOUFYUPGUIF


    8JOEPX Q PCKFDUPOXIJDIUIF TIPX.PEBM%JBMPH
    Q NFUIPEXBTDBMMFE BOEUIBU

    Ǭ IBWFBO BDUJWFEPDVNFOU Q XIPTF PSJHJO Q JTUIF TBNF Q BTUIF PSJHJO Q PGUIF TDSJQU Q UIBU
    DBMMFEUIF TIPX.PEBM%JBMPH
    Q NFUIPEBUUIFUJNFUIFNFUIPEXBTDBMMFE

    BTXFMMBTBOZCSPXTJOHDPOUFYUTUIBUBSFOFTUFEJOTJEFBOZPGUIFCSPXTJOHDPOUFYUTNBUDIJOHUIPTF
    DPOEJUJPOT

     %JTBCMFUIFVTFSJOUFSGBDFGPSBMMUIFCSPXTJOHDPOUFYUTJO C74;8BC>5102:6A>D=31A>FB8=62>=C4GCB5IJT
    TIPVMEQSFWFOUUIFVTFSGSPNOBWJHBUJOHUIPTFCSPXTJOHDPOUFYUT DBVTJOHFWFOUTUPCFTFOUUPUIPTF
    CSPXTJOHDPOUFYU PSFEJUJOHBOZDPOUFOUJOUIPTFCSPXTJOHDPOUFYUT)PXFWFS JUEPFTOPUQSFWFOUUIPTF
    CSPXTJOHDPOUFYUTGSPNSFDFJWJOHFWFOUTGSPNTPVSDFTPUIFSUIBOUIFVTFS GSPNSVOOJOHTDSJQUT GSPN
    SVOOJOHBOJNBUJPOT BOETPGPSUI

     $SFBUFBOFX BVYJMJBSZCSPXTJOHDPOUFYU Q XJUIUIF PQFOFSCSPXTJOHDPOUFYU Q CFJOHUIFCSPXTJOH


    DPOUFYUPGUIF 8JOEPX Q PCKFDUPOXIJDIUIF TIPX.PEBM%JBMPH
    Q NFUIPEXBTDBMMFE5IFOFXBVYJMJBSZ
    CSPXTJOHDPOUFYUIBTOPOBNF

    *HM> 0ABL ;KHPLBG@<HGM>QM I L #H<NF>GM I L 5BG=HP I H;C><ML:EEBFIE>F>GMMA>


    5BG=HP+H=:E I BGM>K?:<>

     -FUUIF EJBMPHBSHVNFOUT Q PGUIFOFXCSPXTJOHDPOUFYUCFTFUUPUIFWBMVFPG 0A6D<4=C PSUIFVOEFИOFE


    WBMVFJGUIFBSHVNFOUXBTPNJUUFE

    
     -FUUIF EJBMPHBSHVNFOUTPSJHJO Q CFUIF PSJHJO Q PGUIF TDSJQU Q UIBUDBMMFEUIF TIPX.PEBM%JBMPH
    Q
    NFUIPE

     /BWJHBUF Q UIFOFX CSPXTJOHDPOUFYU Q UPUIF BCTPMVUF63- Q UIBUSFTVMUFEGSPN SFTPMWJOH Q DA; FBSMJFS
    XJUI SFQMBDFNFOUFOBCMFE Q BOEXJUIUIF CSPXTJOHDPOUFYU Q PGUIF TDSJQU Q UIBUJOWPLFEUIFNFUIPEBT
    UIF TPVSDFCSPXTJOHDPOUFYU Q 

     4QJOUIFFWFOUMPPQ Q VOUJMUIFOFX CSPXTJOHDPOUFYU Q JTDMPTFE 5IFVTFSBHFOUNVTUBMMPXUIFVTFSUP


    JOEJDBUFUIBUUIF CSPXTJOHDPOUFYU Q JTUPCFDMPTFE

     3FFOBCMFUIFVTFSJOUFSGBDFGPSBMMUIFCSPXTJOHDPOUFYUTJO C74;8BC>5102:6A>D=31A>FB8=62>=C4GCB

     3FUVSOUIF BVYJMJBSZCSPXTJOHDPOUFYU Q T SFUVSOWBMVF Q 

    5IF 8JOEPX Q PCKFDUTPG %PDVNFOU Q TIPTUFECZ CSPXTJOHDPOUFYUT Q DSFBUFECZUIFBCPWFBMHPSJUINNVTUBMMIBWF
    UIF 8JOEPX.PEBM Q JOUFSGBDFBEEFEUPUIFJS 8JOEPX Q JOUFSGBDF

    <4VQQMFNFOUBM /P*OUFSGBDF0CKFDU>JOUFSGBDF 5DI?JR+J?<G \


    SFBEPOMZBUUSJCVUFBOZ EJBMPH"SHVNFOUT
    BUUSJCVUF%0.4USJOH SFUVSO7BMVF
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    PBG=HP ?D<GJBMBPH@ION K
    3FUVSOTUIF 0A6D<4=C BSHVNFOUUIBUXBTQBTTFEUPUIF TIPX.PEBM%JBMPH
    Q NFUIPE

    PBG=HP M@OPMI4<GP@ K 7 O:EN> 8


    3FUVSOTUIFDVSSFOUSFUVSOWBMVFGPSUIFXJOEPX
    $BOCFTFU UPDIBOHFUIFWBMVFUIBUXJMMCFSFUVSOFECZUIF TIPX.PEBM%JBMPH
    Q NFUIPE

    4VDICSPXTJOHDPOUFYUTIBWFBTTPDJBUFE >C;FIA;LAOG?HNM XIJDIBSFTUPSFEBMPOHXJUIUIF >C;FIA;LAOG?HNM


    ILCACH5IFTFWBMVFTBSFTFUCZUIF TIPX.PEBM%JBMPH
    Q NFUIPEJOUIFBMHPSJUINBCPWF XIFOUIFCSPXTJOH
    DPOUFYUJTDSFBUFE CBTFEPOUIFBSHVNFOUTQSPWJEFEUPUIFNFUIPE

    5IF ?D<GJBMBPH@ION *%-BUUSJCVUF POHFUUJOH NVTUDIFDLXIFUIFSJUTCSPXTJOHDPOUFYUT BDUJWFEPDVNFOU Q T


    PSJHJO Q JTUIF TBNF Q BTUIF EJBMPHBSHVNFOUTPSJHJO Q *GJUJT UIFOUIFCSPXTJOHDPOUFYUT EJBMPHBSHVNFOUT Q
    NVTUCFSFUVSOFEVODIBOHFE0UIFSXJTF JGUIF EJBMPHBSHVNFOUT Q BSFBOPCKFDU UIFOUIFFNQUZTUSJOHNVTUCF
    SFUVSOFE BOEJGUIF EJBMPHBSHVNFOUT Q BSFOPUBOPCKFDU UIFOUIFTUSJOHJИDBUJPOPGUIF EJBMPHBSHVNFOUT Q NVTUCF
    SFUVSOFE

    5IFTFCSPXTJOHDPOUFYUTBMTPIBWFBOBTTPDJBUFE L?NOLHP;FO?5IF SFUVSOWBMVF Q PGBCSPXTJOHDPOUFYUNVTUCF


    JOJUJBMJ[FEUPUIFFNQUZTUSJOHXIFOUIFCSPXTJOHDPOUFYUJTDSFBUFE

    5IF M@OPMI4<GP@ *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIF SFUVSOWBMVF Q PGJUTCSPXTJOHDPOUFYU BOEPOTFUUJOH


    NVTUTFUUIF SFUVSOWBMVF Q UPUIFHJWFOOFXWBMVF

    *HM> 0A> PBG=HP <EHL> I F>MAH=<:G;>NL>=MH<EHL>MA>;KHPLBG@<HGM>QM

      /SMN?GMN;N?;H>=;J;<CFCNC?M

    5IF I<QDB<OJM BUUSJCVUFPGUIF 8JOEPX Q JOUFSGBDFNVTUSFUVSOBOJOTUBODFPGUIF /BWJHBUPS Q JOUFSGBDF XIJDI
    SFQSFTFOUTUIFJEFOUJUZBOETUBUFPGUIFVTFSBHFOU UIFDMJFOU
    BOEBMMPXT8FCQBHFTUPSFHJTUFSUIFNTFMWFTBT
    QPUFOUJBMQSPUPDPMBOEDPOUFOUIBOEMFST

    JOUFSGBDF ,<QDB<OJM \
    PCKFDUTJNQMFNFOUJOHUIJTJOUFSGBDFBMTPJNQMFNFOUUIFJOUFSGBDFTHJWFOCFMPX
    ^
    /BWJHBUPS JNQMFNFOUT /BWJHBUPS*%
    /BWJHBUPS JNQMFNFOUT /BWJHBUPS0O-JOF
    /BWJHBUPS JNQMFNFOUT /BWJHBUPS"CJMJUJFT

    
    <4VQQMFNFOUBM /P*OUFSGBDF0CKFDU>
    JOUFSGBDF ,<QDB<OJM'" \
    SFBEPOMZBUUSJCVUF%0.4USJOH BQQ/BNF
    SFBEPOMZBUUSJCVUF%0.4USJOH BQQ7FSTJPO
    SFBEPOMZBUUSJCVUF%0.4USJOH QMBUGPSN
    SFBEPOMZBUUSJCVUF%0.4USJOH VTFS"HFOU
    ^

    <4VQQMFNFOUBM /P*OUFSGBDF0CKFDU>
    JOUFSGBDF ,<QDB<OJM-I*DI@ \
    SFBEPOMZBUUSJCVUFCPPMFBO PO-JOF
    ^

    <4VQQMFNFOUBM /P*OUFSGBDF0CKFDU>
    JOUFSGBDF ,<QDB<OJM=DGDOD@N \
    DPOUFOUIBOEMFSSFHJTUSBUJPO
    WPJE SFHJTUFS1SPUPDPM)BOEMFS JO%0.4USJOHTDIFNF JO%0.4USJOHVSM JO%0.4USJOHUJUMF
    
    WPJE SFHJTUFS$POUFOU)BOEMFS JO%0.4USJOHNJNF5ZQF JO%0.4USJOHVSM JO%0.4USJOHUJUMF
    
    WPJE ZJFME'PS4UPSBHF6QEBUFT
    
    ^

    5IFTFJOUFSGBDFTBSFEFИOFETFQBSBUFMZTPUIBUPUIFSTQFDJИDBUJPOTDBOSFVTFQBSUTPGUIF /BWJHBUPS Q JOUFSGBDF

       FC?HNC>?HNC]=;NCIH

    *ODFSUBJODBTFT EFTQJUFUIFCFTUFЗPSUTPGUIFFOUJSFJOEVTUSZ 8FCCSPXTFSTIBWFCVHTBOEMJNJUBUJPOTUIBU8FC


    BVUIPSTBSFGPSDFEUPXPSLBSPVOE

    5IJTTFDUJPOEFИOFTBDPMMFDUJPOPGBUUSJCVUFTUIBUDBOCFVTFEUPEFUFSNJOF GSPNTDSJQU UIFLJOEPGVTFSBHFOUJOVTF


    JOPSEFSUPXPSLBSPVOEUIFTFJTTVFT

    $MJFOUEFUFDUJPOTIPVMEBMXBZTCFMJNJUFEUPEFUFDUJOHLOPXODVSSFOUWFSTJPOTGVUVSFWFSTJPOTBOEVOLOPXOWFSTJPOT
    TIPVMEBMXBZTCFBTTVNFEUPCFGVMMZDPNQMJBOU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    PBG=HP I<QDB<OJM <KK,<H@ K
    3FUVSOTUIFOBNFPGUIFCSPXTFS

    PBG=HP I<QDB<OJM K <KK4@MNDJI K


    3FUVSOTUIFWFSTJPOPGUIFCSPXTFS

    PBG=HP I<QDB<OJM K KG<OAJMH K


    3FUVSOTUIFOBNFPGUIFQMBUGPSN

    PBG=HP I<QDB<OJM K PN@MB@IO K


    3FUVSOTUIFDPNQMFUF6TFS"HFOUIFBEFS

    :II,:F>
    .VTUSFUVSOFJUIFSUIFTUSJOH/FUTDBQFPSUIFGVMMOBNFPGUIFCSPXTFS FH.FMMCMPN#SPXTFSOBUPS

    :II4>KLBHG
    .VTUSFUVSOFJUIFSUIFTUSJOHPSBTUSJOHSFQSFTFOUJOHUIFWFSTJPOPGUIFCSPXTFSJOEFUBJM FH 7.4
    FO64
    .FMMCMPNFOBUPS

    IE:M?HKF
    .VTUSFUVSOFJUIFSUIFFNQUZTUSJOHPSBTUSJOHSFQSFTFOUJOHUIFQMBUGPSNPOXIJDIUIFCSPXTFSJTFYFDVUJOH FH
    .BD*OUFM 8JO 'SFF#4%J 8FC5704

    NL>K @>GM
    .VTUSFUVSOUIFTUSJOHVTFEGPSUIFWBMVFPGUIF6TFS"HFOUIFBEFSJO)551SFRVFTUT PSUIFFNQUZTUSJOHJGOP
    TVDIIFBEFSJTFWFSTFOU

    
       OMNIGM=B?G?;H>=IHN?HNB;H>F?LM

    5IF M@BDNO@M.MJOJ>JG&<I?G@M NFUIPEBMMPXT8FCTJUFTUPSFHJTUFSUIFNTFMWFTBTQPTTJCMFIBOEMFSTGPSQBSUJDVMBS


    TDIFNFT'PSFYBNQMF BOPOMJOFUFMFQIPOFNFTTBHJOHTFSWJDFDPVMESFHJTUFSJUTFMGBTBIBOEMFSPGUIF TNT TDIFNF
    <3'$> Q
    TPUIBUJGUIFVTFSDMJDLTPOTVDIBMJOL IFJTHJWFOUIFPQQPSUVOJUZUPVTFUIBU8FCTJUF"OBMPHPVTMZ
    UIF M@BDNO@M!JIO@IO&<I?G@M NFUIPEBMMPXT8FCTJUFTUPSFHJTUFSUIFNTFMWFTBTQPTTJCMFIBOEMFSTGPSDPOUFOUJOB
    QBSUJDVMBS .*.&UZQF Q 'PSFYBNQMF UIFTBNFPOMJOFUFMFQIPOFNFTTBHJOHTFSWJDFDPVMESFHJTUFSJUTFMGBTBIBOEMFS
    GPS UFYUEJSFDUPSZ ИMFT <3'$> Q
    TPUIBUJGUIFVTFSIBTOPOBUJWFBQQMJDBUJPODBQBCMFPGIBOEMJOHW$BSET
    <3'$> Q
    IJT8FCCSPXTFSDBOJOTUFBETVHHFTUIFVTFUIBUTJUFUPWJFXDPOUBDUJOGPSNBUJPOTUPSFEPOW$BSET
    UIBUIFPQFOT

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    PBG=HP I<QDB<OJM K M@BDNO@M.MJOJ>JG&<I?G@M K L<A>F>
    NKE
    MBME>
    PBG=HP I<QDB<OJM K M@BDNO@M!JIO@IO&<I?G@M K FBF>0RI>
    NKE
    MBME>
    3FHJTUFSTBIBOEMFSGPSUIFHJWFOTDIFNFPSDPOUFOUUZQF BUUIFHJWFO63- XJUIUIFHJWFOUJUMF
    5IFTUSJOHTJOUIF63-JTVTFEBTBQMBDFIPMEFSGPSXIFSFUPQVUUIF63-PGUIFDPOUFOUUPCFIBOEMFE
    5ISPXTB 4&$63*5:@&33 Q FYDFQUJPOJGUIFVTFSBHFOUCMPDLTUIFSFHJTUSBUJPO UIJTNJHIUIBQQFOJGUSZJOH
    UPSFHJTUFSBTBIBOEMFSGPSIUUQ GPSJOTUBODF
    
    5ISPXTB 4:/5"9@&33 Q JGUIFTTUSJOHJTNJTTJOHJOUIF63-

    6TFSBHFOUTNBZ XJUIJOUIFDPOTUSBJOUTEFTDSJCFEJOUIJTTFDUJPO EPXIBUFWFSUIFZMJLFXIFOUIFNFUIPETBSFDBMMFE


    "6"DPVME GPSJOTUBODF QSPNQUUIFVTFSBOEPЗFSUIFVTFSUIFPQQPSUVOJUZUPBEEUIFTJUFUPBTIPSUMJTUPGIBOEMFST
    PSNBLFUIFIBOEMFSTIJTEFGBVMU PSDBODFMUIFSFRVFTU6"TDPVMEQSPWJEFTVDIB6*UISPVHINPEBM6*PSUISPVHIB
    OPONPEBMUSBOTJFOUOPUJИDBUJPOJOUFSGBDF6"TDPVMEBMTPTJNQMZTJMFOUMZDPMMFDUUIFJOGPSNBUJPO QSPWJEJOHJUPOMZXIFO
    SFMFWBOUUPUIFVTFS

    6TFSBHFOUTTIPVMELFFQUSBDLPGXIJDITJUFTIBWFSFHJTUFSFEIBOEMFST FWFOJGUIFVTFSIBTEFDMJOFETVDI
    SFHJTUSBUJPOT
    TPUIBUUIFVTFSJTOPUSFQFBUFEMZQSPNQUFEXJUIUIFTBNFSFRVFTU

    5IFBSHVNFOUTUPUIFNFUIPETIBWFUIFGPMMPXJOHNFBOJOHTBOEDPSSFTQPOEJOHJNQMFNFOUBUJPOSFRVJSFNFOUT

    IKHMH<HE M@BDNO@M.MJOJ>JG&<I?G@M K IHFS


    "TDIFNF TVDIBT GUQ PS TNT5IFTDIFNFNVTUCFDPNQBSFEJOBO "4$**DBTFJOTFOTJUJWF Q NBOOFSCZVTFS
    BHFOUTGPSUIFQVSQPTFTPGDPNQBSJOHXJUIUIFTDIFNFQBSUPG63-TUIBUUIFZDPOTJEFSBHBJOTUUIFMJTUPG
    SFHJTUFSFEIBOEMFST

    5IF B274<4 WBMVF JGJUDPOUBJOTBDPMPO BTJOGUQ


    XJMMOFWFSNBUDIBOZUIJOH TJODFTDIFNFTEPOUDPOUBJO
    DPMPOT

    *HM> 0ABL?>:MNK>BLGHMBGM>G=>=MH;>NL>=PBMAGHG
    LM:G=:K=IKHMH<HEL

    FBF>0RI> M@BDNO@M!JIO@IO&<I?G@M K IHFS


    " .*.&UZQF Q TVDIBT NPEFMWOEGMBUMBOEENM PS BQQMJDBUJPOWOEHPPHMFFBSUILNM YNM5IF .*.&
    UZQF Q NVTUCFDPNQBSFEJOBO "4$**DBTFJOTFOTJUJWF Q NBOOFSCZVTFSBHFOUTGPSUIFQVSQPTFTPGDPNQBSJOH
    XJUI.*.&UZQFTPGEPDVNFOUTUIBUUIFZDPOTJEFSBHBJOTUUIFMJTUPGSFHJTUFSFEIBOEMFST

    6TFSBHFOUTNVTUDPNQBSFUIFHJWFOWBMVFTPOMZUPUIF.*.&UZQFTVCUZQFQBSUTPGDPOUFOUUZQFT OPUUPUIF
    DPNQMFUFUZQFJODMVEJOHQBSBNFUFST5IVT JG <8<4*H?4 WBMVFTQBTTFEUPUIJTNFUIPEJODMVEFDIBSBDUFSTTVDIBT
    DPNNBTPSXIJUFTQBDF PSJODMVEF.*.&QBSBNFUFST UIFOUIFIBOEMFSCFJOHSFHJTUFSFEXJMMOFWFSCFVTFE

    *HM> 0A>MRI>BL<HFI:K>=MHMA> )%)!MRI> I NL>=;RMA>NL>K:@>GM :?M>K MA>LGB]G@


    :E@HKBMAFLA:O>;>>G:IIEB>=

    NKE
    "TUSJOHVTFEUPCVJMEUIF 63- Q PGUIFQBHFUIBUXJMMIBOEMFUIFSFRVFTUT

    8IFOUIFVTFSBHFOUVTFTUIJT63- JUNVTUSFQMBDFUIFИSTUPDDVSSFODFPGUIFFYBDUMJUFSBMTUSJOHTXJUIBO
    FTDBQFEWFSTJPOPGUIF BCTPMVUF63- Q PGUIFDPOUFOUJORVFTUJPO BTEFИOFECFMPX
    UIFO SFTPMWF Q UIF
    SFTVMUJOH63- SFMBUJWFUPUIF CBTF63- Q PGUIF FOUSZTDSJQU Q BUUIFUJNFUIF SFHJTUFS$POUFOU)BOEMFS
    Q
    PS SFHJTUFS1SPUPDPM)BOEMFS
    Q NFUIPETXFSFJOWPLFE BOEUIFO OBWJHBUF Q BOBQQSPQSJBUF CSPXTJOH
    DPOUFYU Q UPUIFSFTVMUJOH63-VTJOHUIF(&5NFUIPE PSFRVJWBMFOU Q GPSOPO)55163-T
    

    
    5PHFUUIFFTDBQFEWFSTJPOPGUIF BCTPMVUF63- Q PGUIFDPOUFOUJORVFTUJPO UIFVTFSBHFOUNVTUSFQMBDFFWFSZ
    DIBSBDUFSJOUIBU BCTPMVUF63- Q UIBUEPFTOUNBUDIUIFRVFSZQSPEVDUJPOEFИOFEJO3'$CZUIF
    QFSDFOUFODPEFEGPSNPGUIBUDIBSBDUFS <3'$> Q

    *GUIFVTFSIBEWJTJUFEBTJUFBU IUUQFYBNQMFDPN UIBUNBEFUIFGPMMPXJOHDBMM

    OBWJHBUPSSFHJTUFS$POUFOU)BOEMFS BQQMJDBUJPOYTPVQ TPVQ VSMT 4PVQ8FC{

    BOEUIFO NVDIMBUFS XIJMFWJTJUJOH IUUQXXXFYBNQMFOFU DMJDLFEPOBMJOLTVDIBT

    BISFGDIJDLFOLhXJTPVQ%PXOMPBEPVS$IJDLFO,hXJTPVQB
    UIFO BTTVNJOHUIJT DIJDLFOLhXJTPVQ ИMFXBTTFSWFEXJUIUIF .*.&UZQF Q BQQMJDBUJPOYTPVQ UIF
    6"NJHIUOBWJHBUFUPUIFGPMMPXJOH63-

    IUUQFYBNQMFDPNTPVQ VSMIUUQXXXFYBNQMFOFUDIJDLFOL$"'XJTPVQ
    5IJTTJUFDPVMEUIFOGFUDIUIF DIJDLFOLhXJTPVQ ИMFBOEEPXIBUFWFSJUJTUIBUJUEPFTXJUITPVQ
    TZOUIFTJ[FJUBOETIJQJUUPUIFVTFS PSXIBUFWFS
    

    MBME>
    "EFTDSJQUJWFUJUMFPGUIFIBOEMFS XIJDIUIF6"NJHIUVTFUPSFNJOEUIFVTFSXIBUUIFTJUFJORVFTUJPOJT

    6TFSBHFOUTTIPVMESBJTF 4&$63*5:@&33 Q FYDFQUJPOTJGUIFNFUIPETBSFDBMMFEXJUI B274<4 PS <8<4*H?4 WBMVFTUIBU


    UIF6"EFFNTUPCFQSJWJMFHFE'PSFYBNQMF BTJUFBUUFNQUJOHUPSFHJTUFSBIBOEMFSGPS IUUQ 63-TPS UFYUIUNM Q
    DPOUFOUJOB8FCCSPXTFSXPVMEMJLFMZDBVTFBOFYDFQUJPOUPCFSBJTFE

    6TFSBHFOUTNVTUSBJTFB 4:/5"9@&33 Q FYDFQUJPOJGUIF DA; BSHVNFOUQBTTFEUPPOFPGUIFTFNFUIPETEPFTOPU


    DPOUBJOUIFFYBDUMJUFSBMTUSJOHT PSJG SFTPMWJOH Q UIF DA; BSHVNFOUXJUIUIFИSTUPDDVSSFODFPGUIFTUSJOHT
    SFNPWFE SFMBUJWFUPUIF FOUSZTDSJQU Q T CBTF63- Q JTOPUTVDDFTTGVM

    6TFSBHFOUTNVTUOPUSBJTFBOZPUIFSFYDFQUJPOT PUIFSUIBOCJOEJOHTQFDJИDFYDFQUJPOT TVDIBTGPSBOJODPSSFDU


    OVNCFSPGBSHVNFOUTJOBO+BWB4DSJQUJNQMFNFOUBUJPO
    

    5IJTTFDUJPOEPFTOPUEFИOFIPXUIFQBHFTSFHJTUFSFECZUIFTFNFUIPETBSFVTFE CFZPOEUIFSFRVJSFNFOUTPOIPXUP
    QSPDFTTUIF DA; WBMVF TFFBCPWF
    5PTPNFFYUFOU UIF QSPDFTTJOHNPEFMGPSOBWJHBUJOHBDSPTTEPDVNFOUT Q EFИOFT
    TPNFDBTFTXIFSFUIFTFNFUIPETBSFSFMFWBOU CVUJOHFOFSBM6"TNBZVTFUIJTJOGPSNBUJPOXIFSFWFSUIFZXPVME
    PUIFSXJTFDPOTJEFSIBOEJOHDPOUFOUUPOBUJWFQMVHJOTPSIFMQFSBQQMJDBUJPOT

    6"TNVTUOPUVTFSFHJTUFSFEDPOUFOUIBOEMFSTUPIBOEMFDPOUFOUUIBUXBTSFUVSOFEBTQBSUPGBOPO(&5USBOTBDUJPO PS
    SBUIFS BTQBSUPGBOZOPOJEFNQPUFOUUSBOTBDUJPO
    BTUIFSFNPUFTJUFXPVMEOPUCFBCMFUPGFUDIUIFTBNFEBUB

        /?=OLCNS;H>JLCP;=S

    5IFTFNFDIBOJTNTDBOJOUSPEVDFBOVNCFSPGDPODFSOT JOQBSUJDVMBSQSJWBDZDPODFSOT

    $CD;=ECHA;FF3?<OM;A? 6TFSBHFOUTTIPVMEOPUBMMPXTDIFNFTUIBUBSFLFZUPJUTOPSNBMPQFSBUJPO TVDIBT IUUQ


    PS IUUQT UPCFSFSPVUFEUISPVHIUIJSEQBSUZTJUFT5IJTXPVMEBMMPXBVTFSTBDUJWJUJFTUPCFUSJWJBMMZUSBDLFE BOEXPVME
    BMMPXVTFSJOGPSNBUJPO FWFOJOTFDVSFDPOOFDUJPOT UPCFDPMMFDUFE

    $CD;=ECHA>?@;OFNM *UJTTUSPOHMZSFDPNNFOEFEUIBUVTFSBHFOUTEPOPUBVUPNBUJDBMMZDIBOHFBOZEFGBVMUT BTUIJT


    DPVMEMFBEUIFVTFSUPTFOEEBUBUPSFNPUFIPTUTUIBUUIFVTFSJTOPUFYQFDUJOH/FXIBOEMFSTSFHJTUFSJOHUIFNTFMWFT
    TIPVMEOFWFSBVUPNBUJDBMMZDBVTFUIPTFTJUFTUPCFVTFE

    .?ACMNL;NCIHMJ;GGCHA 6TFSBHFOUTTIPVMEDPOTJEFSUIFQPTTJCJMJUZUIBUBTJUFXJMMBUUFNQUUPSFHJTUFSBMBSHF
    OVNCFSPGIBOEMFST QPTTJCMZGSPNNVMUJQMFEPNBJOT FHCZSFEJSFDUJOHUISPVHIBTFSJFTPGQBHFTFBDIPOBEJЗFSFOU
    EPNBJO BOEFBDISFHJTUFSJOHBIBOEMFSGPS WJEFPNQFH ǡBOBMPHPVTQSBDUJDFTBCVTJOHPUIFS8FCCSPXTFSGFBUVSFT
    IBWFCFFOVTFECZQPSOPHSBQIZ8FCTJUFTGPSNBOZZFBST
    6TFSBHFOUTTIPVMEHSBDFGVMMZIBOEMFTVDIIPTUJMF
    BUUFNQUT QSPUFDUJOHUIFVTFS

    )CMF?;>CHANCNF?M 6TFSBHFOUTTIPVMEOPUSFMZXIPMMZPOUIF C8C;4 BSHVNFOUUPUIFNFUIPETXIFOQSFTFOUJOHUIF


    SFHJTUFSFEIBOEMFSTUPUIFVTFS TJODFTJUFTDPVMEFBTJMZMJF'PSFYBNQMF BTJUF IPTUJMFFYBNQMFOFU DPVMEDMBJNUIBU
    JUXBTSFHJTUFSJOHUIF$VEEMZ#FBS)BQQZ$POUFOU)BOEMFS6TFSBHFOUTTIPVMEUIFSFGPSFVTFUIFIBOEMFSTEPNBJOJO
    BOZ6*BMPOHXJUIBOZUJUMF

    $IMNCF?B;H>F?LG?N;>;N; 6TFSBHFOUTTIPVMEQSPUFDUBHBJOTUUZQJDBMBUUBDLTBHBJOTUTUSJOHTFNCFEEFEJOUIFJS
    JOUFSGBDF GPSFYBNQMFFOTVSJOHUIBUNBSLVQPSFTDBQFDIBSBDUFSTJOTVDITUSJOHTBSFOPUFYFDVUFE UIBUOVMMCZUFTBSF
    QSPQFSMZIBOEMFE UIBUPWFSMPOHTUSJOHTEPOPUDBVTFDSBTIFTPSCVЗFSPWFSSVOT BOETPGPSUI

    (?;ECHA%HNL;H?N1.(M 5IFNFDIBOJTNEFTDSJCFEJOUIJTTFDUJPODBOSFTVMUJOTFDSFU*OUSBOFU63-TCFJOHMFBLFE JO


    UIFGPMMPXJOHNBOOFS

    
     5IFVTFSSFHJTUFSTBUIJSEQBSUZDPOUFOUIBOEMFSBTUIFEFGBVMUIBOEMFSGPSBDPOUFOUUZQF

     5IFVTFSUIFOCSPXTFTIJTDPSQPSBUF*OUSBOFUTJUFBOEBDDFTTFTBEPDVNFOUUIBUVTFTUIBUDPOUFOUUZQF

     5IFVTFSBHFOUDPOUBDUTUIFUIJSEQBSUZBOEIBOETUIFUIJSEQBSUZUIF63-UPUIF*OUSBOFUDPOUFOU

    /PBDUVBMDPOИEFOUJBMИMFEBUBJTMFBLFEJOUIJTNBOOFS CVUUIF63-TUIFNTFMWFTDPVMEDPOUBJODPOИEFOUJBM
    JOGPSNBUJPO'PSFYBNQMF UIF63-DPVMECF IUUQXXXDPSQFYBNQMFDPNVQDPNJOHBRVJTJUJPOTUIFTBNQMF
    DPNQBOZFHG XIJDINJHIUUFMMUIFUIJSEQBSUZUIBU&YBNQMF$PSQPSBUJPOJTJOUFOEJOHUPNFSHFXJUI5IF4BNQMF
    $PNQBOZ*NQMFNFOUPSTNJHIUXJTIUPDPOTJEFSBMMPXJOHBENJOJTUSBUPSTUPEJTBCMFUIJTGFBUVSFGPSDFSUBJOTVCEPNBJOT
    DPOUFOUUZQFT PSTDIFNFT

    (?;ECHAM?=OL?1.(M 6TFSBHFOUTTIPVMEOPUTFOE)551463-TUPUIJSEQBSUZTJUFTSFHJTUFSFEBTDPOUFOUIBOEMFST JO


    UIFTBNFXBZUIBUVTFSBHFOUTEPOPUTFOE 3FGFSFS TJD
    )551IFBEFSTGSPNTFDVSFTJUFTUPUIJSEQBSUZTJUFT

    (?;ECHA=L?>?HNC;FM 6TFSBHFOUTNVTUOFWFSTFOEVTFSOBNFPSQBTTXPSEJOGPSNBUJPOJOUIF63-TUIBUBSFFTDBQFE
    BOEJODMVEFETFOUUPUIFIBOEMFSTJUFT6TFSBHFOUTNBZFWFOBWPJEBUUFNQUJOHUPQBTTUP8FCCBTFEIBOEMFSTUIF
    63-TPGSFTPVSDFTUIBUBSFLOPXOUPSFRVJSFBVUIFOUJDBUJPOUPBDDFTT BTTVDITJUFTXPVMECFVOBCMFUPBDDFTTUIF
    SFTPVSDFTJORVFTUJPOXJUIPVUQSPNQUJOHUIFVTFSGPSDSFEFOUJBMTUIFNTFMWFT BQSBDUJDFUIBUXPVMESFRVJSFUIFVTFSUP
    LOPXXIFUIFSUPUSVTUUIFUIJSEQBSUZIBOEMFS BEFDJTJPONBOZVTFSTBSFVOBCMFUPNBLFPSFWFOVOEFSTUBOE
    

        /;GJF?OM?LCHN?L@;=?

    *78BB42C8>=8B=>==>A<0C8E4

    "TJNQMFJNQMFNFOUBUJPOPGUIJTGFBUVSFGPSBEFTLUPQ8FCCSPXTFSNJHIUXPSLBTGPMMPXT

    5IF SFHJTUFS$POUFOU)BOEMFS
    Q NFUIPEDPVMEEJTQMBZBNPEBMEJBMPHCPY

    *OUIJTEJBMPHCPY ,JUUFOTBUXPSLJTUIFUJUMFPGUIFQBHFUIBUJOWPLFEUIFNFUIPE IUUQLJUUFOTFYBNQMFPSHJTUIF


    63-PGUIBUQBHF BQQMJDBUJPOYNFPXNFPXJTUIFTUSJOHUIBUXBTQBTTFEUPUIF SFHJTUFS$POUFOU)BOEMFS
    Q
    NFUIPEBTJUTИSTUBSHVNFOU <8<4*H?4
    IUUQLJUUFOTFYBNQMFPSH TIPXTXBTUIFTFDPOEBSHVNFOU DA;
    BOE
    ,JUUFOTBUXPSLEJTQMBZFSXBTUIFUIJSEBSHVNFOU C8C;4
    

    
    *GUIFVTFSDMJDLTUIF$BODFMCVUUPO UIFOOPUIJOHGVSUIFSIBQQFOT*GUIFVTFSDMJDLTUIF5SVTUCVUUPO UIFOUIF
    IBOEMFSJTSFNFNCFSFE

    8IFOUIFVTFSUIFOBUUFNQUTUPGFUDIB63-UIBUVTFTUIFBQQMJDBUJPOYNFPXNFPX .*.&UZQF Q UIFOJUNJHIU


    EJTQMBZBEJBMPHBTGPMMPXT

    *OUIJTEJBMPH UIFUIJSEPQUJPOJTUIFPOFUIBUXBTQSJNFECZUIFTJUFSFHJTUFSJOHJUTFMGFBSMJFS

    *GUIFVTFSEPFTTFMFDUUIBUPQUJPO UIFOUIFCSPXTFS JOBDDPSEBODFXJUIUIFSFRVJSFNFOUTEFTDSJCFEJOUIFQSFWJPVT


    UXPTFDUJPOT XJMMSFEJSFDUUIFVTFSUPIUUQLJUUFOTFYBNQMFPSH TIPXEBUB"BQQMJDBUJPOY
    NFPXNFPXCBTF 4ME(7VDZ#IDN6HE(IM*(/E(7[E$&%

    5IF SFHJTUFS1SPUPDPM)BOEMFS
    Q NFUIPEXPVMEXPSLFRVJWBMFOUMZ CVUGPSTDIFNFTJOTUFBEPGVOLOPXODPOUFOU
    UZQFT

       );HO;FFSL?F?;MCHANB?MNIL;A?GON?R

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    PBG=HP I<QDB<OJM TD@G?$JM1OJM<B@3K?<O@N K 
    *GBTDSJQUVTFTUIF EPDVNFOUDPPLJF Q "1* PSUIF MPDBM4UPSBHF "1* UIFCSPXTFSXJMMCMPDLPUIFSTDSJQUT
    GSPNBDDFTTJOHDPPLJFTPSTUPSBHFVOUJMUIFИSTUTDSJQUИOJTIFT <8&#4503"(&> Q
    $BMMJOHUIF OBWJHBUPSZJFME'PS4UPSBHF6QEBUFT
    Q NFUIPEUFMMTUIFVTFSBHFOUUPVOCMPDLBOZPUIFS
    TDSJQUTUIBUNBZCFCMPDLFE FWFOUIPVHIUIFTDSJQUIBTOUSFUVSOFE
    7BMVFTPGDPPLJFTBOEJUFNTJOUIF 4UPSBHF PCKFDUTPG MPDBM4UPSBHF BUUSJCVUFTDBODIBOHFBGUFSDBMMJOH
    UIJTNFUIPE XIFODFJUTOBNF <8&#4503"(&> Q

    
    5IF TD@G?$JM1OJM<B@3K?<O@N NFUIPE XIFOJOWPLFE NVTU JGUIF TUPSBHFNVUFY Q JTPXOFECZUIF FWFOUMPPQ Q
    PGUIF UBTL Q UIBUSFTVMUFEJOUIFNFUIPECFJOHDBMMFE SFMFBTFUIF TUPSBHFNVUFY Q TPUIBUJUJTPODFBHBJOGSFF
    0UIFSXJTF JUNVTUEPOPUIJOH

    
     1M?LCHN?L;=NCIH
    5IJTTFDUJPOEFTDSJCFTWBSJPVTGFBUVSFTUIBUBMMPXBVUIPSTUPFOBCMFVTFSTUPFEJUEPDVNFOUTBOEQBSUTPGEPDVNFOUT
    JOUFSBDUJWFMZ

      0B? CD??@I ;NNLC<ON?

    "MM )5.-FMFNFOUT Q NBZIBWFUIF IJEEFO Q DPOUFOUBUUSJCVUFTFU5IF IJEEFO Q BUUSJCVUFJTB CPPMFBOBUUSJCVUF Q 
    8IFOTQFDJИFEPOBOFMFNFOU JUJOEJDBUFTUIBUUIFFMFNFOUJTOPUZFU PSJTOPMPOHFS SFMFWBOU 6TFSBHFOUTTIPVME
    OPUSFOEFSFMFNFOUTUIBUIBWFUIF IJEEFO Q BUUSJCVUFTQFDJИFE

    *OUIFGPMMPXJOHTLFMFUBMFYBNQMF UIFBUUSJCVUFJTVTFEUPIJEFUIF8FCHBNFTNBJOTDSFFOVOUJMUIFVTFSMPHT
    JO

    I5IF&YBNQMF(BNFI
    TFDUJPOJEMPHJO
    I-PHJOI
    GPSN
    
    DBMMTMPHJO
    PODFUIFVTFSTDSFEFOUJBMTIBWFCFFODIFDLFE
    GPSN
    TDSJQU
    GVODUJPOMPHJO
    \
    TXJUDITDSFFOT
    EPDVNFOUHFU&MFNFOU#Z*E MPHJO
    IJEEFOUSVF
    EPDVNFOUHFU&MFNFOU#Z*E HBNF
    IJEEFOGBMTF
    ^
    TDSJQU
    TFDUJPO
    TFDUJPOJEHBNFIJEEFO
    
    TFDUJPO

    5IF IJEEFO Q BUUSJCVUFNVTUOPUCFVTFEUPIJEFDPOUFOUUIBUDPVMEMFHJUJNBUFMZCFTIPXOJOBOPUIFSQSFTFOUBUJPO


    'PSFYBNQMF JUJTJODPSSFDUUPVTF IJEEFO Q UPIJEFQBOFMTJOBUBCCFEEJBMPH CFDBVTFUIFUBCCFEJOUFSGBDFJTNFSFMZ
    BLJOEPGPWFSЙPXQSFTFOUBUJPOǡPOFDPVMEFRVBMMZXFMMKVTUTIPXBMMUIFGPSNDPOUSPMTJOPOFCJHQBHFXJUIB
    TDSPMMCBS*UJTTJNJMBSMZJODPSSFDUUPVTFUIJTBUUSJCVUFUPIJEFDPOUFOUKVTUGSPNPOFQSFTFOUBUJPOǡJGTPNFUIJOHJT
    NBSLFE IJEEFO Q JUJTIJEEFOGSPNBMMQSFTFOUBUJPOT JODMVEJOH GPSJOTUBODF TDSFFOSFBEFST

    &MFNFOUTUIBUBSFOPU IJEEFO Q TIPVMEOPUMJOLUPPSSFGFSUPFMFNFOUTUIBUBSF IJEEFO Q 

    'PSFYBNQMF JUXPVMECFJODPSSFDUUPVTFUIF ISFG Q BUUSJCVUFUPMJOLUPBTFDUJPONBSLFEXJUIUIF IJEEFO Q


    BUUSJCVUF*GUIFDPOUFOUJTOPUBQQMJDBCMFPSSFMFWBOU UIFOUIFSFJTOPSFBTPOUPMJOLUPJU

    *UXPVMETJNJMBSMZCFJODPSSFDUUPVTFUIF"3*" BSJBEFTDSJCFECZ BUUSJCVUFUPSFGFSUPEFTDSJQUJPOTUIBUBSF


    UIFNTFMWFT IJEEFO Q )JEJOHBTFDUJPONFBOTUIBUJUJTOPUBQQMJDBCMFPSSFMFWBOUUPBOZPOFBUUIFDVSSFOU
    UJNF TPDMFBSMZJUDBOOPUCFBWBMJEEFTDSJQUJPOPGDPOUFOUUIFVTFSDBOJOUFSBDUXJUI

    &MFNFOUTJOBTFDUJPOIJEEFOCZUIF IJEEFO Q BUUSJCVUFBSFTUJMMBDUJWF FHTDSJQUTBOEGPSNDPOUSPMTJOTVDITFDUJPOT


    TUJMMFYFDVUFBOETVCNJUSFTQFDUJWFMZ0OMZUIFJSQSFTFOUBUJPOUPUIFVTFSDIBOHFT

    5IF CD??@I *%-BUUSJCVUFNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

      =NCP;NCIH

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >E>F>GM >GD>F 
    "DUTBTJGUIFFMFNFOUXBTDMJDLFE

    &BDIFMFNFOUIBTB 2;82:8=?A>6A4BB ЙBH JOJUJBMMZTFUUPGBMTF

    
    5IF >GD>F NFUIPENVTUSVOUIFTFTUFQT

     *GUIFFMFNFOUT 2;82:8=?A>6A4BB ЙBHJTTFUUPUSVF UIFOBCPSUUIFTFTUFQT

     4FUUIF 2;82:8=?A>6A4BB ЙBHPOUIFFMFNFOUUPUSVF

     *GUIFFMFNFOUIBTBEFИOFE BDUJWBUJPOCFIBWJPS Q SVOTZOUIFUJDDMJDLBDUJWBUJPOTUFQT Q POUIFFMFNFOU


    0UIFSXJTF ИSFB DMJDL FWFOU Q BUUIFFMFNFOU

     4FUUIF 2;82:8=?A>6A4BB ЙBHPOUIFFMFNFOUUPGBMTF

      /=LIFFCHA?F?G?HNMCHNIPC?Q

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    >E>F>GM N>MJGG'IOJ4D@R K 7 MHI 8
    4DSPMMTUIFFMFNFOUJOUPWJFX*GUIF C>? BSHVNFOUJTUSVF UIFOUIFFMFNFOUXJMMCFTDSPMMFEUPUIFUPQPG
    UIFWJFXQPSU PUIFSXJTFJUMMCFTDSPMMFEUPUIFCPUUPN5IFEFGBVMUJTUIFUPQ

    5IF N>MJGG'IOJ4D@R9MHI: NFUIPE XIFODBMMFE NVTUDBVTFUIFFMFNFOUPOXIJDIUIFNFUIPEXBTDBMMFEUPIBWF


    UIFBUUFOUJPOPGUIFVTFSDBMMFEUPJU

    *HM> %G:LI>><A;KHPL>K MABL<HNE=A:II>G;RA:OBG@MA><NKK>GMIE:R;:<DIHLBMBHGFHO>MHMA>


    LM:KMH?MA>@BO>G>E>F>GM

    *GUIFFMFNFOUJORVFTUJPODBOOPUCFCSPVHIUUPUIFVTFSTBUUFOUJPO FHCFDBVTFJUJT IJEEFO Q PSJTOPU CFJOH


    SFOEFSFE Q UIFOUIFVTFSBHFOUNVTUEPOPUIJOHJOTUFBE

    *OWJTVBMVTFSBHFOUT JGUIFBSHVNFOUJTQSFTFOUBOEIBTUIFWBMVFGBMTF UIFVTFSBHFOUTIPVMETDSPMMUIFFMFNFOUJOUP


    WJFXTVDIUIBUCPUIUIFCPUUPNBOEUIFUPQPGUIFFMFNFOUBSFJOUIFWJFXQPSU XJUIUIFCPUUPNPGUIFFMFNFOUBMJHOFE
    XJUIUIFCPUUPNPGUIFWJFXQPSU*GJUJTOUQPTTJCMFUPTIPXUIFFOUJSFFMFNFOUJOUIBUXBZ PSJGUIFBSHVNFOUJT
    PNJUUFEPSJTUSVF UIFOUIFVTFSBHFOUTIPVMEJOTUFBEBMJHOUIFUPQPGUIFFMFNFOUXJUIUIFUPQPGUIFWJFXQPSU*GUIF
    FOUJSFTDSPMMBCMFQBSUPGUIFDPOUFOUJTWJTJCMFBMMBUPODF FHJGBQBHFJTTIPSUFSUIBOUIFWJFXQPSU
    UIFOUIFVTFS
    BHFOUTIPVMEOPUTDSPMMBOZUIJOH7JTVBMVTFSBHFOUTTIPVMEGVSUIFSTDSPMMIPSJ[POUBMMZBTOFDFTTBSZUPCSJOHUIF
    FMFNFOUUPUIFBUUFOUJPOPGUIFVTFS

    /POWJTVBMVTFSBHFOUTNBZJHOPSFUIFBSHVNFOU PSNBZUSFBUJUJOTPNFNFEJBTQFDJИDNBOOFSNPTUVTFGVMUPUIF
    VTFS

      "I=OM

    8IFOBOFMFNFOUJT 5>2DB43 LFZFWFOUTSFDFJWFECZUIFEPDVNFOUNVTUCFUBSHFUFEBUUIBUFMFNFOU5IFSFNBZCF


    OPFMFNFOUGPDVTFEXIFOOPFMFNFOUJTGPDVTFE LFZFWFOUTSFDFJWFECZUIFEPDVNFOUNVTUCFUBSHFUFEBU UIFCPEZ
    FMFNFOU Q 

    6TFSBHFOUTNBZUSBDLGPDVTGPSFBDI CSPXTJOHDPOUFYU Q PS %PDVNFOU Q JOEJWJEVBMMZ PSNBZTVQQPSUPOMZPOF


    GPDVTFEFMFNFOUQFS UPQMFWFMCSPXTJOHDPOUFYU Q ǡVTFSBHFOUTTIPVMEGPMMPXQMBUGPSNDPOWFOUJPOTJOUIJTSFHBSE

    8IJDIFMFNFOUTXJUIJOB UPQMFWFMCSPXTJOHDPOUFYU Q DVSSFOUMZIBWFGPDVTNVTUCFJOEFQFOEFOUPGXIFUIFSPSOPU


    UIF UPQMFWFMCSPXTJOHDPOUFYU Q JUTFMGIBTUIF BHBC4<5>2DB

    *HM> 3A>G:G>E>F>GMBL?H<NL>= MA>>E>F>GMF:M<A>LMA>// ?H<NL IL>N=H


    <E:LL

       /?KO?HNC;F@I=OMH;PCA;NCIH

    5IF O<=DI?@S DPOUFOUBUUSJCVUFTQFDJИFTXIFUIFSUIFFMFNFOUJTGPDVTBCMF XIFUIFSJUDBOCFSFBDIFEVTJOH


    TFRVFOUJBMGPDVTOBWJHBUJPO BOEUIFSFMBUJWFPSEFSPGUIFFMFNFOUGPSUIFQVSQPTFTPGTFRVFOUJBMGPDVTOBWJHBUJPO5IF
    OBNFUBCJOEFYDPNFTGSPNUIFDPNNPOVTFPGUIFUBCLFZUPOBWJHBUFUISPVHIUIFGPDVTBCMFFMFNFOUT5IFUFSN
    UBCCJOHSFGFSTUPNPWJOHGPSXBSEUISPVHIUIFGPDVTBCMFFMFNFOUTUIBUDBOCFSFBDIFEVTJOHTFRVFOUJBMGPDVT
    OBWJHBUJPO

    5IF UBCJOEFY Q BUUSJCVUF JGTQFDJИFE NVTUIBWFBWBMVFUIBUJTB WBMJEJOUFHFS Q 

    
    *GUIFBUUSJCVUFJTTQFDJИFE JUNVTUCFQBSTFEVTJOHUIF SVMFTGPSQBSTJOHJOUFHFST Q 5IFBUUSJCVUFTWBMVFTIBWFUIF
    GPMMPXJOHNFBOJOHT

    %@NB?;NNLC<ON?CMIGCNN?>ILJ;LMCHANB?P;FO?L?NOLHM;H?LLIL
    5IFVTFSBHFOUTIPVMEGPMMPXQMBUGPSNDPOWFOUJPOTUPEFUFSNJOFJGUIFFMFNFOUJTUPCFGPDVTBCMFBOE JGTP
    XIFUIFSUIFFMFNFOUDBOCFSFBDIFEVTJOHTFRVFOUJBMGPDVTOBWJHBUJPO BOEJGTP XIBUJUTSFMBUJWFPSEFSTIPVME
    CF

    %@NB?P;FO?CM;H?A;NCP?CHN?A?L
    5IFVTFSBHFOUNVTUBMMPXUIFFMFNFOUUPCFGPDVTFE CVUTIPVMEOPUBMMPXUIFFMFNFOUUPCFSFBDIFEVTJOH
    TFRVFOUJBMGPDVTOBWJHBUJPO

    %@NB?P;FO?CM;T?LI
    5IFVTFSBHFOUNVTUBMMPXUIFFMFNFOUUPCFGPDVTFE TIPVMEBMMPXUIFFMFNFOUUPCFSFBDIFEVTJOHTFRVFOUJBM
    GPDVTOBWJHBUJPO BOETIPVMEGPMMPXQMBUGPSNDPOWFOUJPOTUPEFUFSNJOFUIFFMFNFOUTSFMBUJWFPSEFS

    %@NB?P;FO?CMAL?;N?LNB;HT?LI
    5IFVTFSBHFOUNVTUBMMPXUIFFMFNFOUUPCFGPDVTFE TIPVMEBMMPXUIFFMFNFOUUPCFSFBDIFEVTJOHTFRVFOUJBM
    GPDVTOBWJHBUJPO BOETIPVMEQMBDFUIFFMFNFOUJOUIFTFRVFOUJBMGPDVTOBWJHBUJPOPSEFSTPUIBUJUJT

    Ǭ CFGPSFBOZGPDVTBCMFFMFNFOUXIPTF UBCJOEFY Q BUUSJCVUFIBTCFFOPNJUUFEPSXIPTFWBMVF XIFO


    QBSTFE SFUVSOTBOFSSPS

    Ǭ CFGPSFBOZGPDVTBCMFFMFNFOUXIPTF UBCJOEFY Q BUUSJCVUFIBTBWBMVFFRVBMUPPSMFTTUIBO[FSP

    Ǭ BGUFSBOZFMFNFOUXIPTF UBCJOEFY Q BUUSJCVUFIBTBWBMVFHSFBUFSUIBO[FSPCVUMFTTUIBOUIFWBMVF


    PGUIF UBCJOEFY Q BUUSJCVUFPOUIFFMFNFOU

    Ǭ BGUFSBOZFMFNFOUXIPTF UBCJOEFY Q BUUSJCVUFIBTBWBMVFFRVBMUPUIFWBMVFPGUIF UBCJOEFY Q


    BUUSJCVUFPOUIFFMFNFOUCVUUIBUJTFBSMJFSJOUIFEPDVNFOUJO USFFPSEFS Q UIBOUIFFMFNFOU

    Ǭ CFGPSFBOZFMFNFOUXIPTF UBCJOEFY Q BUUSJCVUFIBTBWBMVFFRVBMUPUIFWBMVFPGUIF UBCJOEFY Q


    BUUSJCVUFPOUIFFMFNFOUCVUUIBUJTMBUFSJOUIFEPDVNFOUJO USFFPSEFS Q UIBOUIFFMFNFOU BOE

    Ǭ CFGPSFBOZFMFNFOUXIPTF UBCJOEFY Q BUUSJCVUFIBTBWBMVFHSFBUFSUIBOUIFWBMVFPGUIF


    UBCJOEFY Q BUUSJCVUFPOUIFFMFNFOU

    "OFMFNFOUJT MJ?=C;FFS@I=OM;<F? JGUIF UBCJOEFY Q BUUSJCVUFTEFИOJUJPOBCPWFEFИOFTUIFFMFNFOUUPCF


    GPDVTBCMF

    "OFMFNFOUUIBUJT TQFDJBMMZGPDVTBCMF Q CVUEPFTOPUPUIFSXJTFIBWFBO BDUJWBUJPOCFIBWJPS Q EFИOFEIBTBO


    BDUJWBUJPOCFIBWJPS Q UIBUEPFTOPUIJOH

    *HM> 0ABLF>:GLMA:M:G>E>F>GMMA:MBLHGER?H<NL:;E>;><:NL>H?BML M:;BG=>Q I :MMKB;NM>PBEE


    [K>: <EB<D I >O>GMBGK>LIHGL>MH:GHG
    FHNL>:<MBO:MBHG> @ ABMMBG@MA>>GM>KD>RPABE>MA>
    >E>F>GMBL?H<NL>=

    5IF O<='I?@S *%-BUUSJCVUFNVTU SFЙFDU Q UIFWBMVFPGUIF UBCJOEFY Q DPOUFOUBUUSJCVUF*GUIFBUUSJCVUFJTOPU


    QSFTFOU PSQBSTJOHJUTWBMVFSFUVSOTBOFSSPS UIFOUIF*%-BUUSJCVUFNVTUSFUVSOGPSFMFNFOUTUIBUBSFGPDVTBCMFBOE
    ʐGPSFMFNFOUTUIBUBSFOPUGPDVTBCMF

       "I=OMG;H;A?G?HN

    "OFMFNFOUJT @I=OM;<F? JGUIFVTFSBHFOUTEFGBVMUCFIBWJPSBMMPXTJUUPCFGPDVTBCMFPSJGUIFFMFNFOUJT TQFDJBMMZ


    GPDVTBCMF Q CVUPOMZJGUIFFMFNFOUJTFJUIFS CFJOHSFOEFSFE Q PSJTBEFTDFOEBOUPGB DBOWBT Q FMFNFOUUIBU
    SFQSFTFOUT Q FNCFEEFEDPOUFOU Q 

    6TFSBHFOUTTIPVMENBLFUIFGPMMPXJOHFMFNFOUT GPDVTBCMF Q VOMFTTQMBUGPSNDPOWFOUJPOTEJDUBUFPUIFSXJTF

    Ǭ B Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF

    Ǭ MJOL Q FMFNFOUTUIBUIBWFBO ISFG Q BUUSJCVUF

    Ǭ CVUUPO Q FMFNFOUTUIBUBSFOPU EJTBCMFE Q

    Ǭ JOQVU Q FMFNFOUTXIPTF UZQF Q BUUSJCVUFBSFOPUJOUIF )JEEFO Q TUBUFBOEUIBUBSFOPU EJTBCMFE Q

    
    Ǭ TFMFDU Q FMFNFOUTUIBUBSFOPU EJTBCMFE Q

    Ǭ UFYUBSFB Q FMFNFOUTUIBUBSFOPU EJTBCMFE Q

    Ǭ DPNNBOE Q FMFNFOUTUIBUEPOPUIBWFB EJTBCMFE Q BUUSJCVUF

    Ǭ &MFNFOUTXJUIB ESBHHBCMF Q BUUSJCVUFTFU JGUIBUXPVMEFOBCMFUIFVTFSBHFOUUPBMMPXUIFVTFSUPCFHJOB


    ESBHPQFSBUJPOTGPSUIPTFFMFNFOUTXJUIPVUUIFVTFPGBQPJOUJOHEFWJDF

    *OBEEJUJPO FBDITIBQFUIBUJTHFOFSBUFEGPSBO BSFB Q FMFNFOUTIPVMECF GPDVTBCMF Q VOMFTTQMBUGPSNDPOWFOUJPOT


    EJDUBUFPUIFSXJTF "TJOHMF BSFB Q FMFNFOUDBODPSSFTQPOEUPNVMUJQMFTIBQFT TJODFJNBHFNBQTDBOCFSFVTFEXJUI
    NVMUJQMFJNBHFTPOBQBHF

    5IF @I=OMCHAMN?JM BSFBTGPMMPXT

     *GGPDVTJOHUIFFMFNFOUXJMMSFNPWFUIFGPDVTGSPNBOPUIFSFMFNFOU UIFOSVOUIF VOGPDVTJOHTUFQT Q GPS


    UIBUFMFNFOU

     .BLFUIFFMFNFOUUIFDVSSFOUMZGPDVTFEFMFNFOUJOJUT UPQMFWFMCSPXTJOHDPOUFYU Q 

    4PNFFMFNFOUT NPTUOPUBCMZ BSFB Q DBODPSSFTQPOEUPNPSFUIBOPOFEJTUJODUGPDVTBCMFBSFB*GB


    QBSUJDVMBSBSFBXBTJOEJDBUFEXIFOUIFFMFNFOUXBTGPDVTFE UIFOUIBUJTUIFBSFBUIBUNVTUHFUGPDVT
    PUIFSXJTF FHXIFOVTJOHUIF GPDVT
    Q NFUIPE UIFИSTUTVDISFHJPOJOUSFFPSEFSJTUIFPOFUIBUNVTU
    CFGPDVTFE

     'JSFBTJNQMFFWFOU Q OBNFE GPDVT BUUIFFMFNFOU

    6TFSBHFOUTNVTUTZODISPOPVTMZSVOUIF GPDVTJOHTUFQT Q GPSBOFMFNFOUXIFOFWFSUIFVTFSNPWFTUIFGPDVTUPB


    GPDVTBCMF Q FMFNFOU

    5IF OH@I=OMCHAMN?JM BSFBTGPMMPXT

     *GUIFFMFNFOUJTBO JOQVU Q FMFNFOU BOEUIF DIBOHF Q FWFOUBQQMJFTUPUIFFMFNFOU BOEUIFFMFNFOU


    EPFTOPUIBWFBEFИOFE BDUJWBUJPOCFIBWJPS Q BOEUIFVTFSIBTDIBOHFEUIFFMFNFOUT WBMVF Q PSJUTMJTU
    PG TFMFDUFEИMFT Q XIJMFUIFDPOUSPMXBTGPDVTFEXJUIPVUDPNNJUUJOHUIBUDIBOHF UIFO ИSFBTJNQMF
    FWFOU Q UIBUCVCCMFTOBNFE DIBOHF BUUIFFMFNFOU UIFO CSPBEDBTU GPSNDIBOHF FWFOUT Q BUUIF
    FMFNFOUT GPSNPXOFS Q 

     6OGPDVTUIFFMFNFOU

     'JSFBTJNQMFFWFOU Q OBNFE CMVS BUUIFFMFNFOU

    8IFOBOFMFNFOUUIBUJTGPDVTFETUPQTCFJOHB GPDVTBCMF Q FMFNFOU PSTUPQTCFJOHGPDVTFEXJUIPVUBOPUIFSFMFNFOU


    CFJOHFYQMJDJUMZGPDVTFEJOJUTTUFBE UIFVTFSBHFOUTIPVMETZODISPOPVTMZSVOUIF GPDVTJOHTUFQT Q GPS UIFCPEZ
    FMFNFOU Q JGUIFSFJTPOFJGUIFSFJTOPU UIFOUIFVTFSBHFOUTIPVMETZODISPOPVTMZSVOUIF VOGPDVTJOHTUFQT Q GPS
    UIFBЗFDUFEFMFNFOUPOMZ

    'PSFYBNQMF UIJTNJHIUIBQQFOCFDBVTFUIFFMFNFOUJTSFNPWFEGSPNJUT %PDVNFOU Q PSIBTB IJEEFO Q


    BUUSJCVUFBEEFE*UXPVMEBMTPIBQQFOUPBO JOQVU Q FMFNFOUXIFOUIFFMFNFOUHFUT EJTBCMFE Q 

       I=OG?HN F?P?F@I=OM,%M

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    =H<NF>GM <>ODQ@#G@H@IO K
    3FUVSOTUIFDVSSFOUMZGPDVTFEFMFNFOU

    =H<NF>GM C<N$J>PN K 


    3FUVSOTUSVFJGUIFEPDVNFOUIBTGPDVTPUIFSXJTF SFUVSOTGBMTF

    PBG=HP AJ>PN K 


    'PDVTFTUIFXJOEPX6TFPGUIJTNFUIPEJTEJTDPVSBHFE"MMPXUIFVTFSUPDPOUSPMXJOEPXGPDVTJOTUFBE

    
    PBG=HP =GPM K 
    6OGPDVTFTUIFXJOEPX6TFPGUIJTNFUIPEJTEJTDPVSBHFE"MMPXUIFVTFSUPDPOUSPMXJOEPXGPDVTJOTUFBE

    5IF <>ODQ@#G@H@IO BUUSJCVUFPO )5.-%PDVNFOU Q PCKFDUTNVTUSFUVSOUIFFMFNFOUJOUIFEPDVNFOUUIBUJTGPDVTFE*G


    OPFMFNFOUJOUIF %PDVNFOU Q JTGPDVTFE UIJTNVTUSFUVSO UIFCPEZFMFNFOU Q 

    5IF C<N$J>PN NFUIPEPO )5.-%PDVNFOU Q PCKFDUTNVTUSFUVSOUSVFJGUIFEPDVNFOUT CSPXTJOHDPOUFYU Q JT


    GPDVTFE BOEBMMJUT BODFTUPSCSPXTJOHDPOUFYUT Q BSFBMTPGPDVTFE BOEUIF UPQMFWFMCSPXTJOHDPOUFYU Q IBTUIF
    BHBC4<5>2DB

    5IF AJ>PN NFUIPEPOUIF 8JOEPX Q PCKFDU XIFOJOWPLFE QSPWJEFTBIJOUUPUIFVTFSBHFOUUIBUUIFTDSJQUCFMJFWFT


    UIFVTFSNJHIUCFJOUFSFTUFEJOUIFDPOUFOUTPGUIF CSPXTJOHDPOUFYU Q PGUIF 8JOEPX Q PCKFDUPOXIJDIUIFNFUIPE
    XBTJOWPLFE

    6TFSBHFOUTBSFFODPVSBHFEUPIBWFUIJT GPDVT
    Q NFUIPEUSJHHFSTPNFLJOEPGOPUJИDBUJPO

    5IF =GPM NFUIPEPOUIF 8JOEPX Q PCKFDU XIFOJOWPLFE QSPWJEFTBIJOUUPUIFVTFSBHFOUUIBUUIFTDSJQUCFMJFWFT


    UIFVTFSQSPCBCMZJTOPUDVSSFOUMZJOUFSFTUFEJOUIFDPOUFOUTPGUIF CSPXTJOHDPOUFYU Q PGUIF 8JOEPX Q PCKFDUPO
    XIJDIUIFNFUIPEXBTJOWPLFE CVUUIBUUIFDPOUFOUTNJHIUCFDPNFJOUFSFTUJOHBHBJOJOUIFGVUVSF

    6TFSBHFOUTBSFFODPVSBHFEUPJHOPSFDBMMTUPUIJT CMVS
    Q NFUIPEFOUJSFMZ

    *HM> $BLMHKB<:EERMA> ?H<NL I :G= ;ENK I F>MAH=L:<MN:EER:Z><M>=MA>LRLM>F?H<NL ;NM


    AHLMBE>LBM>LPB=>ER:;NL>MABL;>A:OBHKMHMA>NL>KL=>MKBF>GM

       !F?G?HN F?P?F@I=OM,%M

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >E>F>GM AJ>PN 
    'PDVTFTUIFFMFNFOU

    >E>F>GM =GPM K 


    6OGPDVTFTUIFFMFNFOU6TFPGUIJTNFUIPEJTEJTDPVSBHFE'PDVTBOPUIFSFMFNFOUJOTUFBE
    %POPUVTFUIJTNFUIPEUPIJEFUIFGPDVTSJOHJGZPVИOEUIFGPDVTSJOHVOTJHIUMZ*OTUFBE VTFB$44SVMFUP
    PWFSSJEFUIFPVUMJOFQSPQFSUZ
    'PSFYBNQMF UPIJEFUIFPVUMJOFGSPNMJOLT ZPVDPVMEVTF
    MJOLGPDVT WJTJUFEGPDVT\PVUMJOFOPOF^

    5IF AJ>PN NFUIPE XIFOJOWPLFE NVTUSVOUIFGPMMPXJOHBMHPSJUIN

     *GUIFFMFNFOUJTNBSLFEBT ;>2:435>A5>2DB ? UIFOBCPSUUIFTFTUFQT

     *GUIFFMFNFOUJTOPU GPDVTBCMF Q UIFOBCPSUUIFTFTUFQT

     .BSLUIFFMFNFOUBT FI=E?>@IL@I=OM

     *GUIFFMFNFOUJTOPUBMSFBEZGPDVTFE SVOUIF GPDVTJOHTUFQT Q GPSUIFFMFNFOU

     6ONBSLUIFFMFNFOUBT ;>2:435>A5>2DB ? 

    5IF =GPM NFUIPE XIFOJOWPLFE TIPVMESVOUIF GPDVTJOHTUFQT Q GPS UIFCPEZFMFNFOU Q JGUIFSFJTPOFJGUIFSFJT
    OPU UIFOJUTIPVMESVOUIF VOGPDVTJOHTUFQT Q GPSUIFFMFNFOUPOXIJDIUIFNFUIPEXBTDBMMFEJOTUFBE6TFSBHFOUT
    NBZTFMFDUJWFMZPSVOJGPSNMZJHOPSFDBMMTUPUIJTNFUIPEGPSVTBCJMJUZSFBTPOT

    'PSFYBNQMF JGUIF CMVS


    Q NFUIPEJTVOXJTFMZCFJOHVTFEUPSFNPWFUIFGPDVTSJOHGPSBFTUIFUJDTSFBTPOT
    UIFQBHFXPVMECFDPNFVOVTBCMFCZLFZCPBSEVTFST*HOPSJOHDBMMTUPUIJTNFUIPEXPVMEUIVTBMMPXLFZCPBSE
    VTFSTUPJOUFSBDUXJUIUIFQBHF

    
      0B? <>>@NNF@T ;NNLC<ON?

    "MM )5.-FMFNFOUT Q NBZIBWFUIF BDDFTTLFZ Q DPOUFOUBUUSJCVUFTFU5IF BDDFTTLFZ Q BUUSJCVUFTWBMVFJTVTFECZ
    UIFVTFSBHFOUBTBHVJEFGPSDSFBUJOHBLFZCPBSETIPSUDVUUIBUBDUJWBUFTPSGPDVTFTUIFFMFNFOU

    *GTQFDJИFE UIFWBMVFNVTUCFBO PSEFSFETFUPGVOJRVFTQBDFTFQBSBUFEUPLFOT Q FBDIPGXIJDINVTUCFFYBDUMZPOF


    6OJDPEFDPEFQPJOUJOMFOHUI

    "OFMFNFOUT ;MMCAH?>;==?MME?S JTBLFZDPNCJOBUJPOEFSJWFEGSPNUIFFMFNFOUT BDDFTTLFZ Q DPOUFOUBUUSJCVUF


    BTGPMMPXT

     *GUIFFMFNFOUIBTOP BDDFTTLFZ Q BUUSJCVUF UIFOTLJQUPUIF 50;;102: TUFQCFMPX

     0UIFSXJTF UIFVTFSBHFOUNVTU TQMJUUIFBUUSJCVUFTWBMVFPOTQBDFT Q BOEMFU :4HB CFUIFSFTVMUJOHUPLFOT

     'PSFBDIWBMVFJO :4HB JOUVSO JOUIFPSEFSUIFUPLFOTBQQFBSFEJOUIFBUUSJCVUFTWBMVF SVOUIFGPMMPXJOH


    TVCTUFQT

     *GUIFWBMVFJTOPUBTUSJOHFYBDUMZPOF6OJDPEFDPEFQPJOUJOMFOHUI UIFOTLJQUIFSFNBJOEFSPG
    UIFTFTUFQTGPSUIJTWBMVF

     *GUIFWBMVFEPFTOPUDPSSFTQPOEUPBLFZPOUIFTZTUFNTLFZCPBSE UIFOTLJQUIFSFNBJOEFSPG
    UIFTFTUFQTGPSUIJTWBMVF

     *GUIFVTFSBHFOUDBOИOEBDPNCJOBUJPOPGNPEJИFSLFZTUIBU XJUIUIFLFZUIBUDPSSFTQPOETUPUIF
    WBMVFHJWFOJOUIFBUUSJCVUF DBOCFVTFEBTBTIPSUDVULFZ UIFOUIFVTFSBHFOUNBZBTTJHOUIBU
    DPNCJOBUJPOPGLFZTBTUIFFMFNFOUT BTTJHOFEBDDFTTLFZ Q BOEBCPSUUIFTFTUFQT

     0;;102:0QUJPOBMMZ UIFVTFSBHFOUNBZBTTJHOBLFZDPNCJOBUJPOPGJUTDIPPTJOHBTUIFFMFNFOUT BTTJHOFE


    BDDFTTLFZ Q BOEUIFOBCPSUUIFTFTUFQT

     *GUIJTTUFQJTSFBDIFE UIFFMFNFOUIBTOP BTTJHOFEBDDFTTLFZ Q 

    0ODFBVTFSBHFOUIBTTFMFDUFEBOEBTTJHOFEBOBDDFTTLFZGPSBOFMFNFOU UIFVTFSBHFOUTIPVMEOPUDIBOHFUIF
    FMFNFOUT BTTJHOFEBDDFTTLFZ Q VOMFTTUIF BDDFTTLFZ Q DPOUFOUBUUSJCVUFJTDIBOHFEPSUIFFMFNFOUJTNPWFEUP
    BOPUIFS %PDVNFOU Q 

    8IFOUIFVTFSQSFTTFTUIFLFZDPNCJOBUJPODPSSFTQPOEJOHUPUIF BTTJHOFEBDDFTTLFZ Q GPSBOFMFNFOU JGUIF


    FMFNFOU EFИOFTBDPNNBOE Q BOEUIFDPNNBOET )JEEFO4UBUF Q GBDFUJTGBMTF WJTJCMF
    BOEUIFDPNNBOET
    %JTBCMFE4UBUF Q GBDFUJTBMTPGBMTF FOBCMFE
    UIFOUIFVTFSBHFOUNVTUUSJHHFSUIF "DUJPO Q PGUIFDPNNBOE

    6TFSBHFOUTNBZFYQPTFFMFNFOUTUIBUIBWFBO BDDFTTLFZ Q BUUSJCVUFJOPUIFSXBZTBTXFMM FHJOBNFOVEJTQMBZFE


    JOSFTQPOTFUPBTQFDJИDLFZDPNCJOBUJPO

    5IF <>>@NN)@T *%-BUUSJCVUFNVTU SFЙFDU Q UIF BDDFTTLFZ Q DPOUFOUBUUSJCVUF

    5IF <>>@NN)@T*<=@G *%-BUUSJCVUFNVTUSFUVSOBTUSJOHUIBUSFQSFTFOUTUIFFMFNFOUT BTTJHOFEBDDFTTLFZ Q JGBOZ*G


    UIFFMFNFOUEPFTOPUIBWFPOF UIFOUIF*%-BUUSJCVUFNVTUSFUVSOUIFFNQUZTUSJOH

    *OUIFGPMMPXJOHFYBNQMF BWBSJFUZPGMJOLTBSFHJWFOXJUIBDDFTTLFZTTPUIBULFZCPBSEVTFSTGBNJMJBSXJUIUIF
    TJUFDBONPSFRVJDLMZOBWJHBUFUPUIFSFMFWBOUQBHFT

    OBW
    Q
    BUJUMF$POTPSUJVN"DUJWJUJFTBDDFTTLFZ"ISFG$POTPSUJVN
    BDUJWJUJFT"DUJWJUJFTB]
    BUJUMF5FDIOJDBM3FQPSUTBOE3FDPNNFOEBUJPOTBDDFTTLFZ5ISFG535FDIOJDBM
    3FQPSUTB]
    BUJUMF"MQIBCFUJDBM4JUF*OEFYBDDFTTLFZ4ISFG$POTPSUJVNTJUFJOEFY4JUF
    *OEFYB]
    BUJUMF"CPVU5IJT4JUFBDDFTTLFZ#ISFG$POTPSUJVN"CPVU$POTPSUJVNB]
    BUJUMF$POUBDU$POTPSUJVNBDDFTTLFZ$ISFG$POTPSUJVNDPOUBDU$POUBDUB
    Q
    OBW

    *OUIFGPMMPXJOHFYBNQMF UIFTFBSDIИFMEJTHJWFOUXPQPTTJCMFBDDFTTLFZT TBOE JOUIBUPSEFS


    "VTFS
    BHFOUPOBEFWJDFXJUIBGVMMLFZCPBSENJHIUQJDL $USM "MU 4 BTUIFTIPSUDVULFZ XIJMFBVTFSBHFOUPOBTNBMM
    EFWJDFXJUIKVTUBOVNFSJDLFZQBENJHIUQJDLKVTUUIFQMBJOVOBEPSOFELFZ 

    
    GPSNBDUJPOTFBSDI
    MBCFM4FBSDIJOQVUUZQFTFBSDIOBNFRBDDFTTLFZTMBCFM
    JOQVUUZQFTVCNJU
    GPSN

    *OUIFGPMMPXJOHFYBNQMF BCVUUPOIBTQPTTJCMFBDDFTTLFZTEFTDSJCFE"TDSJQUUIFOUSJFTUPVQEBUFUIFCVUUPOT
    MBCFMUPBEWFSUJTFUIFLFZDPNCJOBUJPOUIFVTFSBHFOUTFMFDUFE

    JOQVUUZQFTVCNJUBDDFTTLFZ/!WBMVF$PNQPTF
    
    TDSJQU
    GVODUJPOMBCFM#VUUPO CVUUPO
    \
    JG CVUUPOBDDFTT,FZ-BCFM

    CVUUPOWBMVF   CVUUPOBDDFTT,FZ-BCFM 


    
    ^
    WBSJOQVUTEPDVNFOUHFU&MFNFOUT#Z5BH/BNF JOQVU
    
    GPS WBSJJJOQVUTMFOHUIJ 
    \
    JG JOQVUT<J>UZQFTVCNJU

    MBCFM#VUUPO JOQVUT<J>
    
    ^
    TDSJQU

    0OPOFVTFSBHFOU UIFCVUUPOTMBCFMNJHIUCFDPNF$PNQPTF /
    0OBOPUIFS JUNJHIUCFDPNF$PNQPTF
    "MU | 
    *GUIFVTFSBHFOUEPFTOUBTTJHOBLFZ JUXJMMCFKVTU$PNQPTF5IFFYBDUTUSJOHEFQFOETPOXIBU
    UIF BTTJHOFEBDDFTTLFZ Q JT BOEPOIPXUIFVTFSBHFOUSFQSFTFOUTUIBULFZDPNCJOBUJPO

      0B?N?RNM?F?=NCIH,%M

    &WFSZ CSPXTJOHDPOUFYU Q IBT ;M?F?=NCIH5IFTFMFDUJPODBOCFFNQUZ BOEUIFTFMFDUJPODBOIBWFNPSFUIBOPOF


    SBOHF BEJTKPJOUFETFMFDUJPO
    5IFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPDIBOHFUIFTFMFDUJPO6TFSBHFOUTBSFOPU
    SFRVJSFEUPMFUUIFVTFSTFMFDUNPSFUIBOPOFSBOHF BOENBZDPMMBQTFNVMUJQMFSBOHFTJOUIFTFMFDUJPOUPBTJOHMF
    SBOHFXIFOUIFVTFSJOUFSBDUTXJUIUIFTFMFDUJPO #VU PGDPVSTF UIFVTFSBHFOUNBZMFUUIFVTFSDSFBUFTFMFDUJPOT
    XJUINVMUJQMFSBOHFT

    5IJTPOFTFMFDUJPONVTUCFTIBSFECZBMMUIFDPOUFOUPGUIFCSPXTJOHDPOUFYU UIPVHIOPUCZOFTUFE CSPXTJOH


    DPOUFYUT Q
    JODMVEJOHBOZFEJUJOHIPTUTJOUIFEPDVNFOU &EJUJOHIPTUTUIBUBSFOPUJOTJEFBEPDVNFOUDBOOPUIBWFB
    TFMFDUJPO

    *GUIFTFMFDUJPOJTFNQUZ DPMMBQTFE TPUIBUJUIBTPOMZPOFTFHNFOUBOEUIBUTFHNFOUTTUBSUBOEFOEQPJOUTBSFUIF


    TBNF
    UIFOUIFTFMFDUJPOTQPTJUJPOTIPVMEFRVBMUIFDBSFUQPTJUJPO8IFOUIFTFMFDUJPOJTOPUFNQUZ UIJTTQFDJИDBUJPO
    EPFTOPUEFИOFUIFDBSFUQPTJUJPOVTFSBHFOUTTIPVMEGPMMPXQMBUGPSNDPOWFOUJPOTJOEFDJEJOHXIFUIFSUIFDBSFUJTBU
    UIFTUBSUPGUIFTFMFDUJPO UIFFOEPGUIFTFMFDUJPO PSTPNFXIFSFFMTF

    0OTPNFQMBUGPSNT TVDIBTUIPTFVTJOH8PSETUBSFEJUJOHDPOWFOUJPOT
    UIFDBSFUQPTJUJPOJTUPUBMMZJOEFQFOEFOUPGUIF
    TUBSUBOEFOEPGUIFTFMFDUJPO FWFOXIFOUIFTFMFDUJPOJTFNQUZ0OTVDIQMBUGPSNT VTFSBHFOUTNBZJHOPSFUIF
    SFRVJSFNFOUUIBUUIFDVSTPSQPTJUJPOCFMJOLFEUPUIFQPTJUJPOPGUIFTFMFDUJPOBMUPHFUIFS

    .PTUMZGPSIJTUPSJDBMSFBTPOT JOBEEJUJPOUPUIF CSPXTJOHDPOUFYU Q T TFMFDUJPO Q FBDI UFYUBSFB Q BOE JOQVU Q
    FMFNFOUIBTBOJOEFQFOEFOUTFMFDUJPO5IFTFBSFUIF N?RN]?F>M?F?=NCIHM

    6TFSBHFOUTNBZTFMFDUJWFMZJHOPSFBUUFNQUTUPVTFUIF"1*UPBEKVTUUIFTFMFDUJPONBEFBGUFSUIFVTFSIBTNPEJИFE
    UIFTFMFDUJPO'PSFYBNQMF JGUIFVTFSIBTKVTUTFMFDUFEQBSUPGBXPSE UIFVTFSBHFOUDPVMEJHOPSFBUUFNQUTUPVTFUIF
    "1*DBMMUPJNNFEJBUFMZVOTFMFDUUIFTFMFDUJPOBMUPHFUIFS CVUDPVMEBMMPXBUUFNQUTUPDIBOHFUIFTFMFDUJPOUPTFMFDU
    UIFFOUJSFXPSE

    6TFSBHFOUTNBZBMTPBMMPXUIFVTFSUPDSFBUFTFMFDUJPOTUIBUBSFOPUFYQPTFEUPUIF"1*

    5IF TFMFDU Q FMFNFOUBMTPIBTBTFMFDUJPO JOEJDBUJOHXIJDIJUFNTIBWFCFFOQJDLFECZUIFVTFS5IJTJTOPU


    EJTDVTTFEJOUIJTTFDUJPO

    *HM> 0ABLLI><B[<:MBHG=H>LGHMLI><B?RAHPL>E><MBHGL:K>IK>L>GM>=MHMA>NL>K

    
       ,%M@ILNB?<LIQMCHA=IHN?RNM?F?=NCIH

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    PBG=HP B@O1@G@>ODJI K 
    =H<NF>GM B@O1@G@>ODJI K 
    3FUVSOTUIF 4FMFDUJPO Q PCKFDUGPSUIFXJOEPX XIJDITUSJOHJИFTUPUIFUFYUPGUIFDVSSFOUTFMFDUJPO

    5IF B@O1@G@>ODJI NFUIPEPOUIF 8JOEPX Q JOUFSGBDFNVTUSFUVSOUIF 4FMFDUJPO Q PCKFDUSFQSFTFOUJOH UIF
    TFMFDUJPO Q PGUIBU 8JOEPX Q PCKFDUT CSPXTJOHDPOUFYU Q 

    'PSIJTUPSJDBMSFBTPOT UIF B@O1@G@>ODJI NFUIPEPOUIF )5.-%PDVNFOU Q JOUFSGBDFNVTUSFUVSOUIFTBNF


    4FMFDUJPO Q PCKFDU

    JOUFSGBDF 1@G@>ODJI \
    SFBEPOMZBUUSJCVUF/PEF BODIPS/PEF
    SFBEPOMZBUUSJCVUFMPOH BODIPS0GGTFU
    SFBEPOMZBUUSJCVUF/PEF GPDVT/PEF
    SFBEPOMZBUUSJCVUFMPOH GPDVT0GGTFU
    SFBEPOMZBUUSJCVUFCPPMFBO JT$PMMBQTFE
    WPJE DPMMBQTF JO/PEFQBSFOU/PEF JOMPOHPGGTFU
    
    WPJE DPMMBQTF5P4UBSU
    
    WPJE DPMMBQTF5P&OE
    
    WPJE TFMFDU"MM$IJMESFO JO/PEFQBSFOU/PEF
    
    WPJE EFMFUF'SPN%PDVNFOU
    
    SFBEPOMZBUUSJCVUFMPOH SBOHF$PVOU
    3BOHF HFU3BOHF"U JOMPOHJOEFY
    
    WPJE BEE3BOHF JO3BOHFSBOHF
    
    WPJE SFNPWF3BOHF JO3BOHFSBOHF
    
    WPJE SFNPWF"MM3BOHFT
    
    TUSJOHJGJFS %0.4USJOH
    
    ^

    5IF 4FMFDUJPO Q JOUFSGBDFSFQSFTFOUTBMJTUPG 3BOHF PCKFDUT5IFИSTUJUFNJOUIFMJTUIBTJOEFY BOEUIFMBTUJUFN


    IBTJOEFY 2>D=C XIFSF 2>D=C JTUIFOVNCFSPGSBOHFTJOUIFMJTU <%0.3"/(&> Q

    "MMPGUIFNFNCFSTPGUIF 4FMFDUJPO Q JOUFSGBDFBSFEFИOFEJOUFSNTPGPQFSBUJPOTPOUIF 3BOHF PCKFDUTSFQSFTFOUFE


    CZUIJTPCKFDU5IFTFPQFSBUJPOTDBOSBJTFFYDFQUJPOT BTEFИOFEGPSUIF 3BOHF JOUFSGBDFUIJTDBOUIFSFGPSFSFTVMUJO
    UIFNFNCFSTPGUIF 4FMFDUJPO Q JOUFSGBDFSBJTJOHFYDFQUJPOTBTXFMM JOBEEJUJPOUPBOZFYQMJDJUMZDBMMFEPVUCFMPX

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    L>E><MBHG <I>CJM,J?@
    3FUVSOTUIFFMFNFOUUIBUDPOUBJOTUIFTUBSUPGUIFTFMFDUJPO
    3FUVSOTOVMMJGUIFSFTOPTFMFDUJPO

    L>E><MBHG <I>CJM-AAN@O K


    3FUVSOTUIFPЗTFUPGUIFTUBSUPGUIFTFMFDUJPOSFMBUJWFUPUIFFMFNFOUUIBUDPOUBJOTUIFTUBSUPGUIF
    TFMFDUJPO
    3FUVSOTJGUIFSFTOPTFMFDUJPO

    L>E><MBHG AJ>PN,J?@ K


    3FUVSOTUIFFMFNFOUUIBUDPOUBJOTUIFFOEPGUIFTFMFDUJPO
    3FUVSOTOVMMJGUIFSFTOPTFMFDUJPO

    L>E><MBHG AJ>PN-AAN@O K


    3FUVSOTUIFPЗTFUPGUIFFOEPGUIFTFMFDUJPOSFMBUJWFUPUIFFMFNFOUUIBUDPOUBJOTUIFFOEPGUIFTFMFDUJPO
    3FUVSOTJGUIFSFTOPTFMFDUJPO

    
    <HEE:IL>=  L>E><MBHG DN!JGG<KN@? K 
    3FUVSOTUSVFJGUIFSFTOPTFMFDUJPOPSJGUIFTFMFDUJPOJTFNQUZ0UIFSXJTF SFUVSOTGBMTF

    L>E><MBHG >JGG<KN@?I:K>GM*H=>
    HZL>M
    3FQMBDFTUIFTFMFDUJPOXJUIBOFNQUZPOFBUUIFHJWFOQPTJUJPO
    5ISPXTB 830/(@%0$6.&/5@&33 Q FYDFQUJPOJGUIFHJWFOOPEFJTJOBEJЗFSFOUEPDVNFOU

    L>E><MBHG >JGG<KN@2J1O<MO K 


    3FQMBDFTUIFTFMFDUJPOXJUIBOFNQUZPOFBUUIFQPTJUJPOPGUIFTUBSUPGUIFDVSSFOUTFMFDUJPO
    5ISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIFSFJTOPTFMFDUJPO

    L>E><MBHG >JGG<KN@2J#I? K 


    3FQMBDFTUIFTFMFDUJPOXJUIBOFNQUZPOFBUUIFQPTJUJPOPGUIFFOEPGUIFDVSSFOUTFMFDUJPO
    5ISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIFSFJTOPTFMFDUJPO

    L>E><MBHG N@G@>OGG!CDG?M@I K I:K>GM*H=>


    3FQMBDFTUIFTFMFDUJPOXJUIPOFUIBUDPOUBJOTBMMUIFDPOUFOUTPGUIFHJWFOFMFNFOU
    5ISPXTB 830/(@%0$6.&/5@&33 Q FYDFQUJPOJGUIFHJWFOOPEFJTJOBEJЗFSFOUEPDVNFOU

    L>E><MBHG ?@G@O@$MJH"J>PH@IO K 


    %FMFUFTUIFTFMFDUJPO

    L>E><MBHG M<IB@!JPIO K


    3FUVSOTUIFOVNCFSPGSBOHFTJOUIFTFMFDUJPO

    L>E><MBHG B@O0<IB@O K BG=>Q


    3FUVSOTUIFHJWFOSBOHF
    5ISPXTBO */7"-*%@45"5&@&33 Q FYDFQUJPOJGUIFWBMVFJTPVUPGSBOHF

    L>E><MBHG <??0<IB@ K K:G@>


    "EETUIFHJWFOSBOHFUPUIFTFMFDUJPO

    L>E><MBHG M@HJQ@0<IB@ K K:G@>


    3FNPWFTUIFHJWFOSBOHFGSPNUIFTFMFDUJPO JGUIFSBOHFXBTPOFPGUIFPOFTJOUIFTFMFDUJPO

    L>E><MBHG M@HJQ@GG0<IB@N K 


    3FNPWFTBMMUIFSBOHFTJOUIFTFMFDUJPO

    5IF <I>CJM,J?@ BUUSJCVUFNVTUSFUVSOUIFWBMVFSFUVSOFECZUIF TUBSU$POUBJOFS BUUSJCVUFPGUIFMBTU 3BOHF PCKFDUJO


    UIFMJTU PSOVMMJGUIFMJTUJTFNQUZ

    5IF <I>CJM-AAN@O BUUSJCVUFNVTUSFUVSOUIFWBMVFSFUVSOFECZUIF TUBSU0GGTFU BUUSJCVUFPGUIFMBTU 3BOHF PCKFDUJO


    UIFMJTU PSJGUIFMJTUJTFNQUZ

    5IF AJ>PN,J?@ BUUSJCVUFNVTUSFUVSOUIFWBMVFSFUVSOFECZUIF FOE$POUBJOFS BUUSJCVUFPGUIFMBTU 3BOHF PCKFDUJOUIF


    MJTU PSOVMMJGUIFMJTUJTFNQUZ

    5IF AJ>PN-AAN@O BUUSJCVUFNVTUSFUVSOUIFWBMVFSFUVSOFECZUIF FOE0GGTFU BUUSJCVUFPGUIFMBTU 3BOHF PCKFDUJOUIF


    MJTU PSJGUIFMJTUJTFNQUZ

    5IF DN!JGG<KN@? BUUSJCVUFNVTUSFUVSOUSVFJGUIFSFBSF[FSPSBOHFT PSJGUIFSFJTFYBDUMZPOFSBOHFBOEJUT DPMMBQTFE


    BUUSJCVUFJTJUTFMGUSVF0UIFSXJTFJUNVTUSFUVSOGBMTF

    5IF >JGG<KN@I:K>GM,H=> H??L>M NFUIPENVTUSBJTFB 830/(@%0$6.&/5@&33 Q %0.FYDFQUJPOJG ?0A4=C$>34T


    %PDVNFOU Q JTOPUUIF )5.-%PDVNFOU Q PCKFDUXJUIXIJDIUIF 4FMFDUJPO Q PCKFDUJTBTTPDJBUFE0UIFSXJTFJUJT BOE
    UIFNFUIPENVTUSFNPWFBMMUIFSBOHFTJOUIF 4FMFDUJPO Q MJTU UIFODSFBUFBOFX 3BOHF PCKFDU BEEJUUPUIFMJTU BOE
    JOWPLFJUT TFU4UBSU
    BOE TFU&OE
    NFUIPETXJUIUIF ?0A4=C$>34 BOE >OB4C WBMVFTBTUIFJSBSHVNFOUT

    
    5IF >JGG<KN@2J1O<MO NFUIPENVTUSBJTFBO */7"-*%@45"5&@&33 Q %0.FYDFQUJPOJGUIFSFBSFOPSBOHFTJOUIF
    MJTU0UIFSXJTF JUNVTUJOWPLFUIF DPMMBQTF
    Q NFUIPEXJUIUIF TUBSU$POUBJOFS BOE TUBSU0GGTFU WBMVFTPGUIF
    ИSTU 3BOHF PCKFDUJOUIFMJTUBTUIFBSHVNFOUT

    5IF >JGG<KN@2J#I? NFUIPENVTUSBJTFBO */7"-*%@45"5&@&33 Q %0.FYDFQUJPOJGUIFSFBSFOPSBOHFTJOUIFMJTU


    0UIFSXJTF JUNVTUJOWPLFUIF DPMMBQTF
    Q NFUIPEXJUIUIF FOE$POUBJOFS BOE FOE0GGTFU WBMVFTPGUIFMBTU 3BOHF
    PCKFDUJOUIFMJTUBTUIFBSHVNFOUT

    5IF N@G@>OGG!CDG?M@II:K>GM,H=> NFUIPENVTUJOWPLFUIF DPMMBQTF


    Q NFUIPEXJUIUIF ?0A4=C$>34 WBMVFBT
    UIFИSTUBSHVNFOUBOEBTUIFTFDPOEBSHVNFOU BOENVTUUIFOJOWPLFUIF TFMFDU/PEF$POUFOUT
    NFUIPEPOUIF
    ИSTU BOEPOMZ
    SBOHFJOUIFMJTUXJUIUIF ?0A4=C$>34 WBMVFBTUIFBSHVNFOU

    5IF ?@G@O@$MJH"J>PH@IO NFUIPENVTUJOWPLFUIF EFMFUF$POUFOUT


    NFUIPEPOFBDISBOHFJOUIFMJTU JGBOZ GSPN
    ИSTUUPMBTU

    5IF M<IB@!JPIO BUUSJCVUFNVTUSFUVSOUIFOVNCFSPGSBOHFTJOUIFMJTU

    5IF B@O0<IB@OBG=>Q NFUIPENVTUSFUVSOUIF 8=34GUISBOHFJOUIFMJTU*G 8=34G JTMFTTUIBO[FSPPSHSFBUFSPSFRVBM


    UPUIFWBMVFSFUVSOFECZUIF SBOHF$PVOU Q BUUSJCVUF UIFOUIFNFUIPENVTUSBJTFBO */%&9@4*;&@&33 Q %0.
    FYDFQUJPO

    5IF <??0<IB@K:G@> NFUIPENVTUBEEUIFHJWFO A0=64 3BOHFPCKFDUUPUIFMJTUPGTFMFDUJPOT BUUIFFOE TPUIF


    OFXMZBEEFESBOHFJTUIFOFXMBTUSBOHF
    %VQMJDBUFTBSFOPUQSFWFOUFEBSBOHFNBZCFBEEFENPSFUIBOPODFJO
    XIJDIDBTFJUBQQFBSTJOUIFMJTUNPSFUIBOPODF XIJDI GPSFYBNQMF
    XJMMDBVTF TUSJOHJИDBUJPO Q UPSFUVSOUIFSBOHFT
    UFYUUXJDF

    5IF M@HJQ@0<IB@K:G@> NFUIPENVTUSFNPWFUIFИSTUPDDVSSFODFPG A0=64 JOUIFMJTUPGSBOHFT JGJUBQQFBSTBUBMM

    5IF M@HJQ@GG0<IB@N NFUIPENVTUSFNPWFBMMUIFSBOHFTGSPNUIFMJTUPGSBOHFT TVDIUIBUUIF SBOHF$PVOU Q


    BUUSJCVUFSFUVSOTBGUFSUIF SFNPWF"MM3BOHFT
    Q NFUIPEJTJOWPLFE BOEVOUJMBOFXSBOHFJTBEEFEUPUIFMJTU
    FJUIFSUISPVHIUIJTJOUFSGBDFPSWJBVTFSJOUFSBDUJPO
    

    0CKFDUTJNQMFNFOUJOHUIJTJOUFSGBDFNVTU MNLCHAC@S UPBDPODBUFOBUJPOPGUIFSFTVMUTPGJOWPLJOHUIF UP4USJOH

    NFUIPEPGUIF 3BOHF PCKFDUPOFBDIPGUIFSBOHFTPGUIFTFMFDUJPO JOUIFPSEFSUIFZBQQFBSJOUIFMJTU ИSTUUPMBTU


    

    *OUIFGPMMPXJOHEPDVNFOUGSBHNFOU UIFFNQIBTJ[FEQBSUTJOEJDBUFUIFTFMFDUJPO

    Q5IFDVUFHJSMMJLFT OC@ DJUF-SAJM?#IBGDNC %JDUJPOBSZDJUFQ

    *GBTDSJQUJOWPLFE XJOEPXHFU4FMFDUJPO
    UP4USJOH
    UIFSFUVSOWBMVFXPVMECFUIF0YGPSE&OHMJTI

       ,%M@ILNB?N?RN]?F>M?F?=NCIHM

    5IF JOQVU Q BOE UFYUBSFB Q FMFNFOUTEFИOFUIFGPMMPXJOHNFNCFSTJOUIFJS%0.JOUFSGBDFTGPSIBOEMJOHUIFJSUFYU


    TFMFDUJPO

    WPJE TFMFDU
    
    BUUSJCVUFVOTJHOFEMPOH TFMFDUJPO4UBSU
    BUUSJCVUFVOTJHOFEMPOH TFMFDUJPO&OE
    WPJE TFU4FMFDUJPO3BOHF JOVOTJHOFEMPOHTUBSU JOVOTJHOFEMPOHFOE
    

    5IFTFNFUIPETBOEBUUSJCVUFTFYQPTFBOEDPOUSPMUIFTFMFDUJPOPG JOQVU Q BOE UFYUBSFB Q UFYUИFMET

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    >E>F>GM N@G@>O K 
    4FMFDUTFWFSZUIJOHJOUIFUFYUИFME

    >E>F>GM N@G@>ODJI1O<MO 7 O:EN> 8


    3FUVSOTUIFPЗTFUUPUIFTUBSUPGUIFTFMFDUJPO
    $BOCFTFU UPDIBOHFUIFTUBSUPGUIFTFMFDUJPO

    >E>F>GM N@G@>ODJI#I? 7 O:EN> 8


    3FUVSOTUIFPЗTFUUPUIFFOEPGUIFTFMFDUJPO

    
    $BOCFTFU UPDIBOHFUIFFOEPGUIFTFMFDUJPO

    >E>F>GM N@O1@G@>ODJI0<IB@ K LM:KM


    >G=
    $IBOHFTUIFTFMFDUJPOUPDPWFSUIFHJWFOTVCTUSJOH

    8IFOUIFTFNFUIPETBOEBUUSJCVUFTBSFVTFEXJUI JOQVU Q FMFNFOUTXIJMFUIFZEPOUBQQMZ UIFZNVTUSBJTFBO


    */7"-*%@45"5&@&33 Q FYDFQUJPO0UIFSXJTF UIFZNVTUBDUBTEFTDSJCFECFMPX

    5IF N@G@>O NFUIPENVTUDBVTFUIFDPOUFOUTPGUIFUFYUИFMEUPCFGVMMZTFMFDUFE

    5IF N@G@>ODJI1O<MO BUUSJCVUFNVTU POHFUUJOH SFUVSOUIFPЗTFU JOMPHJDBMPSEFS


    UPUIFDIBSBDUFSUIBUJNNFEJBUFMZ
    GPMMPXTUIFTUBSUPGUIFTFMFDUJPO*GUIFSFJTOPTFMFDUJPO UIFOJUNVTUSFUVSOUIFPЗTFU JOMPHJDBMPSEFS
    UPUIF
    DIBSBDUFSUIBUJNNFEJBUFMZGPMMPXTUIFUFYUFOUSZDVSTPS

    0OTFUUJOH JUNVTUBDUBTJGUIF TFU4FMFDUJPO3BOHF


    Q NFUIPEIBECFFODBMMFE XJUIUIFOFXWBMVFBTUIFИSTU
    BSHVNFOU BOEUIFDVSSFOUWBMVFPGUIF TFMFDUJPO&OE Q BUUSJCVUFBTUIFTFDPOEBSHVNFOU VOMFTTUIFDVSSFOUWBMVF
    PGUIF TFMFDUJPO&OE Q JTMFTTUIBOUIFOFXWBMVF JOXIJDIDBTFUIFTFDPOEBSHVNFOUNVTUBMTPCFUIFOFXWBMVF

    5IF N@G@>ODJI#I? BUUSJCVUFNVTU POHFUUJOH SFUVSOUIFPЗTFU JOMPHJDBMPSEFS


    UPUIFDIBSBDUFSUIBUJNNFEJBUFMZ
    GPMMPXTUIFFOEPGUIFTFMFDUJPO*GUIFSFJTOPTFMFDUJPO UIFOJUNVTUSFUVSOUIFPЗTFU JOMPHJDBMPSEFS
    UPUIFDIBSBDUFS
    UIBUJNNFEJBUFMZGPMMPXTUIFUFYUFOUSZDVSTPS

    0OTFUUJOH JUNVTUBDUBTJGUIF TFU4FMFDUJPO3BOHF


    Q NFUIPEIBECFFODBMMFE XJUIUIFDVSSFOUWBMVFPGUIF
    TFMFDUJPO4UBSU Q BUUSJCVUFBTUIFИSTUBSHVNFOU BOEOFXWBMVFBTUIFTFDPOEBSHVNFOU

    5IF N@O1@G@>ODJI0<IB@LM:KM >G= NFUIPENVTUTFUUIFTFMFDUJPOPGUIFUFYUИFMEUPUIFTFRVFODFPGDIBSBDUFST


    TUBSUJOHXJUIUIFDIBSBDUFSBUUIF BC0ACUIQPTJUJPO JOMPHJDBMPSEFS
    BOEFOEJOHXJUIUIFDIBSBDUFSBUUIF 4=3
    UI
    QPTJUJPO"SHVNFOUTHSFBUFSUIBOUIFMFOHUIPGUIFWBMVFJOUIFUFYUИFMENVTUCFUSFBUFEBTQPJOUJOHBUUIFFOEPGUIF
    UFYUИFME*G 4=3 JTMFTTUIBOPSFRVBMUP BC0AC UIFOUIFTUBSUPGUIFTFMFDUJPOBOEUIFFOEPGUIFTFMFDUJPONVTUCPUICF
    QMBDFEJNNFEJBUFMZCFGPSFUIFDIBSBDUFSXJUIPЗTFU 4=3*O6"TXIFSFUIFSFJTOPDPODFQUPGBOFNQUZTFMFDUJPO UIJT
    NVTUTFUUIFDVSTPSUPCFKVTUCFGPSFUIFDIBSBDUFSXJUIPЗTFU 4=3

    5PPCUBJOUIFDVSSFOUMZTFMFDUFEUFYU UIFGPMMPXJOH+BWB4DSJQUTVКDFT

    WBSTFMFDUJPO5FYUDPOUSPMWBMVFTVCTUSJOH DPOUSPMTFMFDUJPO4UBSU DPOUSPMTFMFDUJPO&OE


    

    XIFSF 2>=CA>; JTUIF JOQVU Q PS UFYUBSFB Q FMFNFOU

    $IBSBDUFSTXJUIOPWJTJCMFSFOEFSJOH TVDIBT6 %;&308*%5)+0*/&3 TUJMMDPVOUBTDIBSBDUFST5IVT GPS


    JOTUBODF UIFTFMFDUJPODBOJODMVEFKVTUBOJOWJTJCMFDIBSBDUFS BOEUIFUFYUJOTFSUJPODVSTPSDBOCFQMBDFEUPPOFTJEF
    PSBOPUIFSPGTVDIBDIBSBDUFS

      0B? >JIO@IO@?DO<=G@ K ;NNLC<ON?

    5IF >JIO@IO@?DO<=G@ BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q XIPTFLFZXPSETBSFUIFFNQUZTUSJOH USVF BOE GBMTF


    5IFFNQUZTUSJOHBOEUIF USVF LFZXPSENBQUPUIF CAD4 TUBUF5IF GBMTF LFZXPSENBQTUPUIF 50;B4 TUBUF*OBEEJUJPO
    UIFSFJTBUIJSETUBUF UIF 8=74A8C TUBUF XIJDIJTUIF <8BB8=6E0;D43450D;C BOEUIF 8=E0;83E0;D43450D;C
    

    5IF CAD4 TUBUFJOEJDBUFTUIBUUIFFMFNFOUJTFEJUBCMF5IF 8=74A8C TUBUFJOEJDBUFTUIBUUIFFMFNFOUJTFEJUBCMFJGJUT


    QBSFOUJT5IF 50;B4 TUBUFJOEJDBUFTUIBUUIFFMFNFOUJTOPUFEJUBCMF

    4QFDJИDBMMZ JGBO )5.-FMFNFOU Q IBTB DPOUFOUFEJUBCMF Q BUUSJCVUFTFUUPUIFUSVFTUBUF PSJUIBTJUT


    DPOUFOUFEJUBCMF Q BUUSJCVUFTFUUPUIFJOIFSJUTUBUFBOEJGJUTOFBSFTUBODFTUPS )5.-FMFNFOU Q XJUIUIF
    DPOUFOUFEJUBCMF Q BUUSJCVUFTFUUPBTUBUFPUIFSUIBOUIFJOIFSJUTUBUFIBTJUTBUUSJCVUFTFUUPUIFUSVFTUBUF PSJGJU
    BOEJUTBODFTUPSTBMMIBWFUIFJS DPOUFOUFEJUBCMF Q BUUSJCVUFTFUUPUIFJOIFSJUTUBUFCVUUIF %PDVNFOU Q IBT
    EFTJHO.PEF Q FOBCMFE UIFOUIF6"NVTUUSFBUUIFFMFNFOUBT ?>CN;<F? BTEFTDSJCFECFMPX
    

    0UIFSXJTF FJUIFSUIF )5.-FMFNFOU Q IBTB DPOUFOUFEJUBCMF Q BUUSJCVUFTFUUPUIFGBMTFTUBUF PSJUT


    DPOUFOUFEJUBCMF Q BUUSJCVUFJTTFUUPUIFJOIFSJUTUBUFBOEJUTOFBSFTUBODFTUPS )5.-FMFNFOU Q XJUIUIF
    DPOUFOUFEJUBCMF Q BUUSJCVUFTFUUPBTUBUFPUIFSUIBOUIFJOIFSJUTUBUFIBTJUTBUUSJCVUFTFUUPUIFGBMTFTUBUF PSBMMJUT
    BODFTUPSTIBWFUIFJS DPOUFOUFEJUBCMF Q BUUSJCVUFTFUUPUIFJOIFSJUTUBUFBOEUIF %PDVNFOU Q JUTFMGIBT
    EFTJHO.PEF Q EJTBCMFEFJUIFSXBZ UIFFMFNFOUJTOPUFEJUBCMF

    
    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    >E>F>GM >JIO@IO#?DO<=G@ K 7 O:EN> 8
    3FUVSOTUSVF GBMTF PSJOIFSJU CBTFEPOUIFTUBUFPGUIF DPOUFOUFEJUBCMF Q BUUSJCVUF
    $BOCFTFU UPDIBOHFUIBUTUBUF
    5ISPXTB 4:/5"9@&33 Q FYDFQUJPOJGUIFOFXWBMVFJTOUPOFPGUIPTFTUSJOHT

    >E>F>GM DN!JIO@IO#?DO<=G@ K


    3FUVSOTUSVFJGUIFFMFNFOUJTFEJUBCMFPUIFSXJTF SFUVSOTGBMTF

    5IF >JIO@IO#?DO<=G@ *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFTUSJOHUSVFJGUIFDPOUFOUBUUSJCVUFJTTFUUPUIFUSVF


    TUBUF GBMTFJGUIFDPOUFOUBUUSJCVUFJTTFUUPUIFGBMTFTUBUF BOEJOIFSJUPUIFSXJTF0OTFUUJOH JGUIFOFXWBMVFJT
    BO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHJOIFSJUUIFOUIFDPOUFOUBUUSJCVUFNVTUCFSFNPWFE JGUIFOFX
    WBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHUSVFUIFOUIFDPOUFOUBUUSJCVUFNVTUCFTFUUPUIFTUSJOH
    USVF JGUIFOFXWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHGBMTFUIFOUIFDPOUFOUBUUSJCVUFNVTUCF
    TFUUPUIFTUSJOHGBMTF BOEPUIFSXJTFUIFBUUSJCVUFTFUUFSNVTUSBJTFB 4:/5"9@&33 Q FYDFQUJPO

    5IF DN!JIO@IO#?DO<=G@ *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUSVFJGUIFFMFNFOUJT FEJUBCMF Q BOEGBMTFPUIFSXJTF

    *GBOFMFNFOUJT FEJUBCMF Q BOEJUTQBSFOUFMFNFOUJTOPU PSJGBOFMFNFOUJT FEJUBCMF Q BOEJUIBTOPQBSFOUFMFNFOU


    UIFOUIFFMFNFOUJTBO ?>CNCHABIMN&EJUBCMFFMFNFOUTDBOCFOFTUFE6TFSBHFOUTNVTUNBLFFEJUJOHIPTUT
    GPDVTBCMF XIJDIUZQJDBMMZNFBOTUIFZFOUFSUIF UBCPSEFS Q
    "OFEJUJOHIPTUDBODPOUBJOOPOFEJUBCMFTFDUJPOT
    UIFTFBSFIBOEMFEBTEFTDSJCFECFMPX"OFEJUJOHIPTUDBODPOUBJOOPOFEJUBCMFTFDUJPOTUIBUDPOUBJOGVSUIFSFEJUJOH
    IPTUT

    8IFOBOFEJUJOHIPTUIBTGPDVT JUNVTUIBWFB =;L?NJIMCNCIH UIBUTQFDJИFTXIFSFUIFDVSSFOUFEJUJOHQPTJUJPOJT*U


    NBZBMTPIBWFB TFMFDUJPO Q 

    *HM> $HPMA><:K>M:G=L>E><MBHG:K>K>IK>L>GM>==>I>G=L>GMBK>ERHGMA>1

       1M?L?>CNCHA;=NCIHM

    5IFSFBSFTFWFSBMBDUJPOTUIBUUIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPQFSGPSNXIJMFUIFVTFSJTJOUFSBDUJOHXJUIBO
    FEJUJOHIPTU)PXFYBDUMZFBDIBDUJPOJTUSJHHFSFEJTOPUEFИOFEGPSFWFSZBDUJPO CVUXIFOJUJTOPUEFИOFE TVHHFTUFE
    LFZCJOEJOHTBSFQSPWJEFEUPHVJEFJNQMFNFOUPST

    )IP?NB?=;L?N
    6TFSBHFOUTNVTUBMMPXVTFSTUPNPWFUIFDBSFUUPBOZQPTJUJPOXJUIJOBOFEJUJOHIPTU FWFOJOUPOFTUFEFEJUBCMF
    FMFNFOUT5IJTDPVMECFUSJHHFSFEBTUIFEFGBVMUBDUJPOPG LFZEPXO FWFOUTXJUIWBSJPVTLFZJEFOUJИFSTBOEBTUIF
    EFGBVMUBDUJPOPG NPVTFEPXO FWFOUT

    B;HA?NB?M?F?=NCIH
    6TFSBHFOUTNVTUBMMPXVTFSTUPDIBOHF UIFTFMFDUJPO Q XJUIJOBOFEJUJOHIPTU FWFOJOUPOFTUFEFEJUBCMF
    FMFNFOUT6TFSBHFOUTNBZQSFWFOUTFMFDUJPOTGSPNCFJOHNBEFJOXBZTUIBUDSPTTGSPNFEJUBCMFFMFNFOUTJOUP
    OPOFEJUBCMFFMFNFOUT FHCZNBLJOHFBDIOPOFEJUBCMFEFTDFOEBOUBUPNJDBMMZTFMFDUBCMF CVUOPUBMMPXJOHUFYU
    TFMFDUJPOXJUIJOUIFN
    5IJTDPVMECFUSJHHFSFEBTUIFEFGBVMUBDUJPOPG LFZEPXO FWFOUTXJUIWBSJPVTLFZ
    JEFOUJИFSTBOEBTUIFEFGBVMUBDUJPOPG NPVTFEPXO FWFOUT

    %HM?LNN?RN
    5IJTBDUJPONVTUCFUSJHHFSFEBTUIFEFGBVMUBDUJPOPGB UFYU*OQVU FWFOU BOENBZCFUSJHHFSFECZPUIFS
    DPNNBOETBTXFMM*UNVTUDBVTFUIFVTFSBHFOUUPJOTFSUUIFTQFDJИFEUFYU HJWFOCZUIFFWFOUPCKFDUT EBUB
    BUUSJCVUFJOUIFDBTFPGUIF UFYU*OQVU FWFOU
    BUUIFDBSFU

    *GUIFDBSFUJTQPTJUJPOFETPNFXIFSFXIFSF QISBTJOHDPOUFOU Q JTOPUBMMPXFE FHJOTJEFBOFNQUZ PM Q


    FMFNFOU
    UIFOUIFVTFSBHFOUNVTUOPUJOTFSUUIFUFYUEJSFDUMZBUUIFDBSFUQPTJUJPO*OTVDIDBTFTUIFCFIBWJPSJT
    6"EFQFOEFOU CVUVTFSBHFOUTNVTUOPU JOSFTQPOTFUPBSFRVFTUUPJOTFSUUFYU HFOFSBUFB%0.UIBUJTMFTT
    DPOGPSNBOUUIBOUIF%0.QSJPSUPUIFSFRVFTU

    6TFSBHFOUTTIPVMEBMMPXVTFSTUPJOTFSUOFXQBSBHSBQITJOUPFMFNFOUTUIBUDPOUBJOTPOMZDPOUFOUPUIFSUIBO
    QBSBHSBQIT

    'PSFYBNQMF HJWFOUIFNBSLVQ

    TFDUJPO
    EM

    
    EU#FOEU
    EE(PBUEE
    EM
    TFDUJPO
    UIFVTFSBHFOUTIPVMEBMMPXUIFVTFSUPJOTFSU Q Q FMFNFOUTCFGPSFBOEBGUFSUIF EM Q FMFNFOU BT
    DIJMESFOPGUIF TFDUJPO Q FMFNFOU

    L?;E<FI=E
    6"TTIPVMEPЗFSBXBZGPSUIFVTFSUPSFRVFTUUIBUUIFDVSSFOUQBSBHSBQICFCSPLFOBUUIFDBSFU FHBTUIF
    EFGBVMUBDUJPOPGB LFZEPXO FWFOUXIPTFJEFOUJИFSJTUIF&OUFSLFZBOEUIBUIBTOPNPEJИFSTTFU

    5IFFYBDUCFIBWJPSJT6"EFQFOEFOU CVUVTFSBHFOUTNVTUOPU JOSFTQPOTFUPBSFRVFTUUPCSFBLBQBSBHSBQI


    HFOFSBUFB%0.UIBUJTMFTTDPOGPSNBOUUIBOUIF%0.QSJPSUPUIFSFRVFTU

    %HM?LN;FCH?M?J;L;NIL
    6"TTIPVMEPЗFSBXBZGPSUIFVTFSUPSFRVFTUBOFYQMJDJUMJOFCSFBLBUUIFDBSFUQPTJUJPOXJUIPVUCSFBLJOHUIF
    QBSBHSBQI FHBTUIFEFGBVMUBDUJPOPGB LFZEPXO FWFOUXIPTFJEFOUJИFSJTUIF&OUFSLFZBOEUIBUIBTBTIJGU
    NPEJИFSTFU-JOFTFQBSBUPSTBSFUZQJDBMMZGPVOEXJUIJOBQPFNWFSTFPSBOBEESFTT5PJOTFSUBMJOFCSFBL UIF
    VTFSBHFOUNVTUJOTFSUB CS Q FMFNFOU

    *GUIFDBSFUJTQPTJUJPOFETPNFXIFSFXIFSF QISBTJOHDPOUFOU Q JTOPUBMMPXFE FHJOBOFNQUZ PM Q FMFNFOU



    UIFOUIFVTFSBHFOUNVTUOPUJOTFSUUIF CS Q FMFNFOUEJSFDUMZBUUIFDBSFUQPTJUJPO*OTVDIDBTFTUIFCFIBWJPSJT
    6"EFQFOEFOU CVUVTFSBHFOUTNVTUOPU JOSFTQPOTFUPBSFRVFTUUPJOTFSUBMJOFTFQBSBUPS HFOFSBUFB%0.
    UIBUJTMFTTDPOGPSNBOUUIBOUIF%0.QSJPSUPUIFSFRVFTU

    ?F?N?
    6"TTIPVMEPЗFSBXBZGPSUIFVTFSUPEFMFUFUFYUBOEFMFNFOUT JODMVEJOHOPOFEJUBCMFEFTDFOEBOUT FHBTUIF
    EFGBVMUBDUJPOPG LFZEPXO FWFOUTXIPTFJEFOUJИFSTBSF6 PS6 '

    'JWFFEHFDBTFTJOQBSUJDVMBSOFFEUPCFDPOTJEFSFEDBSFGVMMZXIFOJNQMFNFOUJOHUIJTGFBUVSFCBDLTQBDJOHBUUIF
    TUBSUPGBOFMFNFOU CBDLTQBDJOHXIFOUIFDBSFUJTJNNFEJBUFMZBGUFSBOFMFNFOU GPSXBSEEFMFUJOHBUUIFFOEPG
    BOFMFNFOU GPSXBSEEFMFUJOHXIFOUIFDBSFUJTJNNFEJBUFMZCFGPSFBOFMFNFOU BOEEFMFUJOHB TFMFDUJPO Q
    XIPTFTUBSUBOEFOEQPJOUTEPOPUTIBSFBDPNNPOQBSFOUOPEF

    *OBOZDBTF UIFFYBDUCFIBWJPSJT6"EFQFOEFOU CVUVTFSBHFOUTNVTUOPU JOSFTQPOTFUPBSFRVFTUUPEFMFUF


    UFYUPSBOFMFNFOU HFOFSBUFB%0.UIBUJTMFTTDPOGPSNBOUUIBOUIF%0.QSJPSUPUIFSFRVFTU

    %HM?LN
    ;H>QL;JN?RNCH
    M?G;HNC=?F?G?HNM
    6"TTIPVMEPЗFSUIFVTFSUIFBCJMJUZUPNBSLUFYUBOEQBSBHSBQITXJUITFNBOUJDTUIBU)5.-DBOFYQSFTT

    6"TTIPVMETJNJMBSMZPЗFSBXBZGPSUIFVTFSUPJOTFSUFNQUZTFNBOUJDFMFNFOUTUPTVCTFRVFOUMZИMMCZFOUFSJOH
    UFYUNBOVBMMZ

    6"TTIPVMEBMTPPЗFSBXBZUPSFNPWFUIPTFTFNBOUJDTGSPNNBSLFEVQUFYU BOEUPSFNPWFFNQUZTFNBOUJD
    FMFNFOUUIBUIBWFCFFOJOTFSUFE

    *OSFTQPOTFUPBSFRVFTUGSPNBVTFSUPNBSLUFYUVQJOJUBMJDT VTFSBHFOUTTIPVMEVTFUIF J Q FMFNFOUUP


    SFQSFTFOUUIFTFNBOUJD5IF FN Q FMFNFOUTIPVMECFVTFEPOMZJGUIFVTFSBHFOUJTTVSFUIBUUIFVTFSNFBOTUP
    JOEJDBUFTUSFTTFNQIBTJT

    *OSFTQPOTFUPBSFRVFTUGSPNBVTFSUPNBSLUFYUVQJOCPME VTFSBHFOUTTIPVMEVTFUIF C Q FMFNFOUUP


    SFQSFTFOUUIFTFNBOUJD5IF TUSPOH Q FMFNFOUTIPVMECFVTFEPOMZJGUIFVTFSBHFOUJTTVSFUIBUUIFVTFS
    NFBOTUPJOEJDBUFJNQPSUBODF

    5IFFYBDUCFIBWJPSJT6"EFQFOEFOU CVUVTFSBHFOUTNVTUOPU JOSFTQPOTFUPBSFRVFTUUPXSBQTFNBOUJDT


    BSPVOETPNFUFYUPSUPJOTFSUPSSFNPWFBTFNBOUJDFMFNFOU HFOFSBUFB%0.UIBUJTMFTTDPOGPSNBOUUIBOUIF
    %0.QSJPSUPUIFSFRVFTU

    /?F?=N;H>GIP?HIH ?>CN;<F??F?G?HNMH?MN?>CHMC>??>CNCHABIMNM
    6"TTIPVMEPЗFSBXBZGPSUIFVTFSUPNPWFJNBHFTBOEPUIFSOPOFEJUBCMFQBSUTBSPVOEUIFDPOUFOUXJUIJOBO
    FEJUJOHIPTU5IJTNBZCFEPOFVTJOHUIF ESBHBOEESPQ Q NFDIBOJTN6TFSBHFOUTNVTUOPU JOSFTQPOTFUPB
    SFRVFTUUPNPWFOPOFEJUBCMFFMFNFOUTOFTUFEJOTJEFFEJUJOHIPTUT HFOFSBUFB%0.UIBUJTMFTTDPOGPSNBOUUIBO
    UIF%0.QSJPSUPUIFSFRVFTU

    !>CN@ILG=IHNLIFMH?MN?>CHMC>??>CNCHABIMNM
    8IFOBO FEJUBCMF Q GPSNDPOUSPMJTFEJUFE UIFDIBOHFTNVTUCFSFЙFDUFEJOCPUIJUTDVSSFOUWBMVF 0=3 JUT
    EFGBVMUWBMVF'PS JOQVU Q FMFNFOUTUIJTNFBOTVQEBUJOHUIF EFGBVMU7BMVF Q *%-BUUSJCVUFBTXFMMBTUIF
    WBMVF Q *%-BUUSJCVUFGPS TFMFDU Q FMFNFOUTJUNFBOTVQEBUJOHUIF PQUJPO Q FMFNFOUT EFGBVMU4FMFDUFE Q

    
    *%-BUUSJCVUFBTXFMMBTUIF TFMFDUFE Q *%-BUUSJCVUFGPS UFYUBSFB Q FMFNFOUTUIJTNFBOTVQEBUJOHUIF
    EFGBVMU7BMVF Q *%-BUUSJCVUFBTXFMMBTUIF WBMVF Q *%-BUUSJCVUF 6QEBUJOHUIF EFGBVMU *%-BUUSJCVUFT
    DBVTFTDPOUFOUBUUSJCVUFTUPCFVQEBUFEBTXFMM

    6TFSBHFOUTNBZQFSGPSNTFWFSBMDPNNBOETQFSVTFSSFRVFTUGPSFYBNQMFJGUIFVTFSTFMFDUTBCMPDLPGUFYUBOEIJUT
    &OUFS UIF6"NJHIUJOUFSQSFUUIBUBTBSFRVFTUUPEFMFUFUIFDPOUFOUPG UIFTFMFDUJPO Q GPMMPXFECZBSFRVFTUUP
    CSFBLUIFQBSBHSBQIBUUIBUQPTJUJPO

    6TFSBHFOUTNBZBEE %0.DIBOHFT Q FOUSJFTUPUIF VOEPUSBOTBDUJPOIJTUPSZ Q PGUIF FEJUJOHIPTU Q T %PDVNFOU Q
    PCKFDUFBDIUJNFBOBDUJPOJTUSJHHFSFE

    "MMPGUIFBDUJPOTEFИOFEBCPWF XIFUIFSUSJHHFSFECZUIFVTFSPSQSPHSBNNBUJDBMMZ FHCZ FYFD$PNNBOE


    Q
    DPNNBOET
    NVTUИSFNVUBUJPOFWFOUTBTBQQSPQSJBUF

       );ECHA?HNCL?>I=OG?HNM?>CN;<F?

    %PDVNFOUTIBWFB ?@NDBI+J?@ XIJDIDBOCFFJUIFSFOBCMFEPSEJTBCMFE

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM ?@NDBI+J?@ 7 O:EN> 8
    3FUVSOTPOJGUIFEPDVNFOUJTFEJUBCMF BOEPGGJGJUJTOU
    $BOCFTFU UPDIBOHFUIFEPDVNFOUTDVSSFOUTUBUF

    5IF EFTJHO.PEF Q *%-BUUSJCVUFPOUIF %PDVNFOU Q PCKFDUUBLFTUXPWBMVFT POBOEPGG8IFOJUJTTFU UIFOFX


    WBMVFNVTUCFDPNQBSFEJOBO "4$**DBTFJOTFOTJUJWF Q NBOOFSUPUIFTFUXPWBMVFT*GJUNBUDIFTUIFPOWBMVF UIFO
    EFTJHO.PEF Q NVTUCFFOBCMFE BOEJGJUNBUDIFTUIFPGGWBMVF UIFO EFTJHO.PEF Q NVTUCFEJTBCMFE0UIFS
    WBMVFTNVTUCFJHOPSFE

    8IFO EFTJHO.PEF Q JTFOBCMFE UIF*%-BUUSJCVUFNVTUSFUVSOUIFWBMVFPO BOEXIFOJUJTEJTBCMFE JUNVTUSFUVSO


    UIFWBMVFPGG

    5IFMBTUTUBUFTFUNVTUQFSTJTUVOUJMUIFEPDVNFOUJTEFTUSPZFEPSUIFTUBUFJTDIBOHFE*OJUJBMMZ EPDVNFOUTNVTUIBWF
    UIFJS EFTJHO.PEF Q EJTBCMFE

      /J?FFCHA;H>AL;GG;L=B?=ECHA

    6TFSBHFOUTDBOTVQQPSUUIFDIFDLJOHPGTQFMMJOHBOEHSBNNBSPGFEJUBCMFUFYU FJUIFSJOGPSNDPOUSPMT TVDIBTUIF


    WBMVFPG UFYUBSFB Q FMFNFOUT
    PSJOFMFNFOUTJOBO FEJUJOHIPTU Q VTJOH DPOUFOUFEJUBCMF Q
    

    'PSFBDIFMFNFOU VTFSBHFOUTNVTUFTUBCMJTIB >?@;OFN<?B;PCIL FJUIFSUISPVHIEFGBVMUTPSUISPVHIQSFGFSFODFT


    FYQSFTTFECZUIFVTFS5IFSFBSFUISFFQPTTJCMFEFGBVMUCFIBWJPSTGPSFBDIFMFNFOU

    MKN>
    ;R
    =>?:NEM
    5IFFMFNFOUXJMMCFDIFDLFEGPSTQFMMJOHBOEHSBNNBSJGJUTDPOUFOUTBSFFEJUBCMF

    ?:EL>
    ;R
    =>?:NEM
    5IFFMFNFOUXJMMOFWFSCFDIFDLFEGPSTQFMMJOHBOEHSBNNBS

    BGA>KBM
    ;R
    =>?:NEM
    5IFFMFNFOUTEFGBVMUCFIBWJPSJTUIFTBNFBTJUTQBSFOUFMFNFOUT&MFNFOUTUIBUIBWFOPQBSFOUFMFNFOU
    DBOOPUIBWFUIJTBTUIFJSEFGBVMUCFIBWJPS

    5IF NK@GG>C@>F BUUSJCVUFJTBO FOVNFSBUFEBUUSJCVUF Q XIPTFLFZXPSETBSFUIFFNQUZTUSJOH USVF BOE GBMTF5IF


    FNQUZTUSJOHBOEUIF USVF LFZXPSENBQUPUIF CAD4 TUBUF5IF GBMTF LFZXPSENBQTUPUIF 50;B4 TUBUF*OBEEJUJPO
    UIFSFJTBUIJSETUBUF UIF 3450D;C TUBUF XIJDIJTUIF <8BB8=6E0;D43450D;C BOEUIF 8=E0;83E0;D43450D;C
    

    5IF CAD4 TUBUFJOEJDBUFTUIBUUIFFMFNFOUJTUPIBWFJUTTQFMMJOHBOEHSBNNBSDIFDLFE5IF 3450D;C TUBUFJOEJDBUFTUIBU


    UIFFMFNFOUJTUPBDUBDDPSEJOHUPBEFGBVMUCFIBWJPS QPTTJCMZCBTFEPOUIFQBSFOUFMFNFOUTPXO TQFMMDIFDL Q
    TUBUF5IF 50;B4 TUBUFJOEJDBUFTUIBUUIFFMFNFOUJTOPUUPCFDIFDLFE

    
    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >E>F>GM NK@GG>C@>F 7 O:EN> 8
    3FUVSOTUSVF GBMTF PSEFGBVMU CBTFEPOUIFTUBUFPGUIF TQFMMDIFDL Q BUUSJCVUF
    $BOCFTFU UPDIBOHFUIBUTUBUF
    5ISPXTB 4:/5"9@&33 Q FYDFQUJPOJGUIFOFXWBMVFJTOUPOFPGUIPTFTUSJOHT

    5IF NK@GG>C@>F *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFTUSJOHUSVFJGUIFDPOUFOUBUUSJCVUFJTTFUUPUIFUSVFTUBUF


    GBMTFJGUIFDPOUFOUBUUSJCVUFJTTFUUPUIFGBMTFTUBUF BOEEFGBVMUPUIFSXJTF0OTFUUJOH JGUIFOFXWBMVFJTBO
    "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHEFGBVMUUIFOUIFDPOUFOUBUUSJCVUFNVTUCFSFNPWFE JGUIFOFXWBMVF
    JTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHUSVFUIFOUIFDPOUFOUBUUSJCVUFNVTUCFTFUUPUIFTUSJOHUSVF
    JGUIFOFXWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHGBMTFUIFOUIFDPOUFOUBUUSJCVUFNVTUCFTFUUP
    UIFTUSJOHGBMTF BOEPUIFSXJTFUIFBUUSJCVUFTFUUFSNVTUSBJTFB 4:/5"9@&33 Q FYDFQUJPO

    *HM> 0A> LI>EE<A><D I % (:MMKB;NM>BLGHM:Z><M>=;RNL>KIK>?>K>G<>LMA:MHO>KKB=>MA>


    LI>EE<A><D I <HGM>GM:MMKB;NM> :G=MA>K>?HK>FB@AMGHMK>\><MMA>:<MN:ELI>EE<A><DBG@LM:M>

    0OTFUUJOH JGUIFOFXWBMVFJTUSVF UIFOUIFFMFNFOUT TQFMMDIFDL Q DPOUFOUBUUSJCVUFNVTUCFTFUUPUIFMJUFSBM


    TUSJOHUSVF PUIFSXJTFJUNVTUCFTFUUPUIFMJUFSBMTUSJOHGBMTF

    6TFSBHFOUTNVTUPOMZDPOTJEFSUIFGPMMPXJOHQJFDFTPGUFYUBTDIFDLBCMFGPSUIFQVSQPTFTPGUIJTGFBUVSF

    Ǭ 5IFWBMVFPG JOQVU Q FMFNFOUTUPXIJDIUIF SFBEPOMZ Q BUUSJCVUFBQQMJFT XIPTF UZQF Q BUUSJCVUFTBSF
    OPUJOUIF 1BTTXPSE Q TUBUF BOEUIBUBSFOPU 8<<DC01;4 ?  JFUIBUEPOPUIBWFUIF SFBEPOMZ Q BUUSJCVUF
    TQFDJИFEBOEUIBUBSFOPU EJTBCMFE Q
    

    Ǭ 5IFWBMVFPG UFYUBSFB Q FMFNFOUTUIBUEPOPUIBWFB SFBEPOMZ Q BUUSJCVUFBOEUIBUBSFOPU EJTBCMFE Q 

    Ǭ 5FYUJO UFYUOPEFT Q UIBUBSFDIJMESFOPG FEJUBCMF Q FMFNFOUT

    Ǭ 5FYUJOBUUSJCVUFTPG FEJUBCMF Q FMFNFOUT

    'PSUFYUUIBUJTQBSUPGB UFYUOPEF Q UIFFMFNFOUXJUIXIJDIUIFUFYUJTBTTPDJBUFEJTUIFFMFNFOUUIBUJTUIF


    JNNFEJBUFQBSFOUPGUIFИSTUDIBSBDUFSPGUIFXPSE TFOUFODF PSPUIFSQJFDFPGUFYU'PSUFYUJOBUUSJCVUFT JUJTUIF
    BUUSJCVUFTFMFNFOU'PSUIFWBMVFTPG JOQVU Q BOE UFYUBSFB Q FMFNFOUT JUJTUIFFMFNFOUJUTFMG

    5PEFUFSNJOFJGBXPSE TFOUFODF PSPUIFSQJFDFPGUFYUJOBOBQQMJDBCMFFMFNFOU BTEFИOFEBCPWF


    JTUPIBWFTQFMMJOH
    BOEPSHSBNNBSDIFDLJOHFOBCMFE UIF6"NVTUVTFUIFGPMMPXJOHBMHPSJUIN

     *GUIFVTFSIBTEJTBCMFEUIFDIFDLJOHGPSUIJTUFYU UIFOUIFDIFDLJOHJTEJTBCMFE

     0UIFSXJTF JGUIFVTFSIBTGPSDFEUIFDIFDLJOHGPSUIJTUFYUUPBMXBZTCFFOBCMFE UIFOUIFDIFDLJOHJT


    FOBCMFE

     0UIFSXJTF JGUIFFMFNFOUXJUIXIJDIUIFUFYUJTBTTPDJBUFEIBTB TQFMMDIFDL Q DPOUFOUBUUSJCVUF UIFOJG


    UIBUBUUSJCVUFJTJOUIF CAD4 TUBUF UIFODIFDLJOHJTFOBCMFEPUIFSXJTF JGUIBUBUUSJCVUFJTJOUIF 50;B4 TUBUF
    UIFODIFDLJOHJTEJTBCMFE

     0UIFSXJTF JGUIFSFJTBOBODFTUPSFMFNFOUXJUIB TQFMMDIFDL Q DPOUFOUBUUSJCVUFUIBUJTOPUJOUIF 3450D;C


    TUBUF UIFOJGUIFOFBSFTUTVDIBODFTUPST TQFMMDIFDL Q DPOUFOUBUUSJCVUFJTJOUIF CAD4 TUBUF UIFO
    DIFDLJOHJTFOBCMFEPUIFSXJTF DIFDLJOHJTEJTBCMFE

     0UIFSXJTF JGUIFFMFNFOUT EFGBVMUCFIBWJPS Q JT USVFCZEFGBVMU Q UIFODIFDLJOHJTFOBCMFE

     0UIFSXJTF JGUIFFMFNFOUT EFGBVMUCFIBWJPS Q JT GBMTFCZEFGBVMU Q UIFODIFDLJOHJTEJTBCMFE

     0UIFSXJTF JGUIFFMFNFOUTQBSFOUFMFNFOUIBT 8CB DIFDLJOHFOBCMFE UIFODIFDLJOHJTFOBCMFE

     0UIFSXJTF DIFDLJOHJTEJTBCMFE

    *GUIFDIFDLJOHJTFOBCMFEGPSBXPSETFOUFODFUFYU UIFVTFSBHFOUTIPVMEJOEJDBUFTQFMMJOHBOEPSHSBNNBSFSSPSTJO
    UIBUUFYU6TFSBHFOUTTIPVMEUBLFJOUPBDDPVOUUIFPUIFSTFNBOUJDTHJWFOJOUIFEPDVNFOUXIFOTVHHFTUJOHTQFMMJOH
    BOEHSBNNBSDPSSFDUJPOT6TFSBHFOUTNBZVTFUIFMBOHVBHFPGUIFFMFNFOUUPEFUFSNJOFXIBUTQFMMJOHBOEHSBNNBS
    SVMFTUPVTF PSNBZVTFUIFVTFSTQSFGFSSFEMBOHVBHFTFUUJOHT6"TTIPVMEVTF JOQVU Q FMFNFOUBUUSJCVUFTTVDIBT
    QBUUFSO Q UPFOTVSFUIBUUIFSFTVMUJOHWBMVFJTWBMJE XIFSFQPTTJCMF

    
    *GDIFDLJOHJTEJTBCMFE UIFVTFSBHFOUTIPVMEOPUJOEJDBUFTQFMMJOHPSHSBNNBSFSSPSTGPSUIBUUFYU

    5IFFMFNFOUXJUI*%BJOUIFGPMMPXJOHFYBNQMFXPVMECFUIFPOFVTFEUPEFUFSNJOFJGUIFXPSE)FMMPJT
    DIFDLFEGPSTQFMMJOHFSSPST*OUIJTFYBNQMF JUXPVMEOPUCF

    EJWDPOUFOUFEJUBCMFUSVF
    TQBOTQFMMDIFDLGBMTFJEB)FMMTQBOFNPFN
    EJW

    5IFFMFNFOUXJUI*%CJOUIFGPMMPXJOHFYBNQMFXPVMEIBWFDIFDLJOHFOBCMFE UIFMFBEJOHTQBDFDIBSBDUFSJO
    UIFBUUSJCVUFTWBMVFPOUIF JOQVU Q FMFNFOUDBVTFTUIFBUUSJCVUFUPCFJHOPSFE TPUIFBODFTUPSTWBMVFJTVTFE
    JOTUFBE SFHBSEMFTTPGUIFEFGBVMU
    

    QTQFMMDIFDLUSVF
    MBCFM/BNFJOQVUTQFMMDIFDLGBMTFJECMBCFM
    Q

    *HM> 0ABLLI><B[<:MBHG=H>LGHM=>[G>MA>NL>KBGM>K?:<>?HKLI>EEBG@:G=@K:FF:K<A><D>KL 
    NL>K:@>GM<HNE=HZ>KHG
    =>F:G=<A><DBG@ <HNE=I>K?HKF<HGMBGNHNL<A><DBG@PABE>MA>
    <A><DBG@BL>G:;E>= HK<HNE=NL>HMA>KBGM>K?:<>L

      L;A;H>>LIJ

    5IJTTFDUJPOEFИOFTBOFWFOUCBTFEESBHBOEESPQNFDIBOJTN

    5IJTTQFDJИDBUJPOEPFTOPUEFИOFFYBDUMZXIBUB 3A060=33A>?>?4A0C8>= BDUVBMMZJT

    0OBWJTVBMNFEJVNXJUIBQPJOUJOHEFWJDF BESBHPQFSBUJPODPVMECFUIFEFGBVMUBDUJPOPGB NPVTFEPXO FWFOUUIBUJT


    GPMMPXFECZBTFSJFTPG NPVTFNPWF FWFOUT BOEUIFESPQDPVMECFUSJHHFSFECZUIFNPVTFCFJOHSFMFBTFE

    0ONFEJBXJUIPVUBQPJOUJOHEFWJDF UIFVTFSXPVMEQSPCBCMZIBWFUPFYQMJDJUMZJOEJDBUFIJTJOUFOUJPOUPQFSGPSNB
    ESBHBOEESPQPQFSBUJPO TUBUJOHXIBUIFXJTIFTUPESBHBOEXIBUIFXJTIFTUPESPQ SFTQFDUJWFMZ

    )PXFWFSJUJTJNQMFNFOUFE ESBHBOEESPQPQFSBUJPOTNVTUIBWFBTUBSUJOHQPJOU FHXIFSFUIFNPVTFXBTDMJDLFE PS


    UIFTUBSUPG UIFTFMFDUJPO Q PSFMFNFOUUIBUXBTTFMFDUFEGPSUIFESBH
    NBZIBWFBOZOVNCFSPGJOUFSNFEJBUFTUFQT
    FMFNFOUTUIBUUIFNPVTFNPWFTPWFSEVSJOHBESBH PSFMFNFOUTUIBUUIFVTFSQJDLTBTQPTTJCMFESPQQPJOUTBTIF
    DZDMFTUISPVHIQPTTJCJMJUJFT
    BOENVTUFJUIFSIBWFBOFOEQPJOU UIFFMFNFOUBCPWFXIJDIUIFNPVTFCVUUPOXBT
    SFMFBTFE PSUIFFMFNFOUUIBUXBTИOBMMZTFMFDUFE
    PSCFDBODFMFE5IFFOEQPJOUNVTUCFUIFMBTUFMFNFOUTFMFDUFEBT
    BQPTTJCMFESPQQPJOUCFGPSFUIFESPQPDDVST TPJGUIFPQFSBUJPOJTOPUDBODFMFE UIFSFNVTUCFBUMFBTUPOFFMFNFOUJO
    UIFNJEEMFTUFQ
    

       %HNLI>O=NCIH

    *78BB42C8>=8B=>==>A<0C8E4

    5PNBLFBOFMFNFOUESBHHBCMFJTTJNQMFHJWFUIFFMFNFOUB ESBHHBCMF Q BUUSJCVUF BOETFUBOFWFOUMJTUFOFSGPS


    ESBHTUBSU Q UIBUTUPSFTUIFEBUBCFJOHESBHHFE

    5IFFWFOUIBOEMFSUZQJDBMMZOFFETUPDIFDLUIBUJUTOPUBUFYUTFMFDUJPOUIBUJTCFJOHESBHHFE BOEUIFOOFFETUPTUPSF
    EBUBJOUPUIF %BUB5SBOTGFS Q PCKFDUBOETFUUIFBMMPXFEFЗFDUT DPQZ NPWF MJOL PSTPNFDPNCJOBUJPO
    

    'PSFYBNQMF

    Q8IBUGSVJUTEPZPVMJLF Q
    PMPOESBHTUBSUESBH4UBSU)BOEMFS FWFOU
    
    MJESBHHBCMFEBUBWBMVFGSVJUBQQMF"QQMFTMJ
    MJESBHHBCMFEBUBWBMVFGSVJUPSBOHF0SBOHFTMJ
    MJESBHHBCMFEBUBWBMVFGSVJUQFBS1FBSTMJ
    PM
    TDSJQU
    WBSJOUFSOBM%/%5ZQFUFYUYFYBNQMFTFUUIJTUPTPNFUIJOHTQFDJGJDUPZPVSTJUF
    GVODUJPOESBH4UBSU)BOEMFS FWFOU
    \
    JG FWFOUUBSHFUJOTUBODFPG)5.--*&MFNFOU
    \
    VTFUIFFMFNFOUTEBUBWBMVFBUUSJCVUFBTUIFWBMVFUPCFNPWJOH
    FWFOUEBUB5SBOTGFSTFU%BUB JOUFSOBM%/%5ZQF FWFOUUBSHFUEBUBTFUWBMVF
    
    FWFOUFGGFDU"MMPXFENPWFPOMZBMMPXNPWFT

    
    ^FMTF\
    FWFOUQSFWFOU%FGBVMU
    EPOUBMMPXTFMFDUJPOUPCFESBHHFE
    ^
    ^
    TDSJQU

    5PBDDFQUBESPQ UIFESPQUBSHFUIBTUPMJTUFOUPBUMFBTUUISFFFWFOUT'JSTU UIF ESBHFOUFS Q FWFOU XIJDIJTVTFEUP


    EFUFSNJOFXIFUIFSPSOPUUIFESPQUBSHFUJTUPBDDFQUUIFESPQ*GUIFESPQJTUPCFBDDFQUFE UIFOUIJTFWFOUIBTUPCF
    DBODFMFE4FDPOE UIF ESBHPWFS Q FWFOU XIJDIJTVTFEUPEFUFSNJOFXIBUGFFECBDLJTUPCFTIPXOUPUIFVTFS*GUIF
    FWFOUJTDBODFMFE UIFOUIFGFFECBDL UZQJDBMMZUIFDVSTPS
    JTVQEBUFECBTFEPOUIF ESPQ&GGFDU Q BUUSJCVUFTWBMVF
    BTTFUCZUIFFWFOUIBOEMFSPUIFSXJTF UIFEFGBVMUCFIBWJPS UZQJDBMMZUPEPOPUIJOH
    JTVTFEJOTUFBE'JOBMMZ UIF
    ESPQ Q FWFOU XIJDIBMMPXTUIFBDUVBMESPQUPCFQFSGPSNFE5IJTFWFOUBMTPOFFETUPCFDBODFMFE TPUIBUUIF
    ESPQ&GGFDU Q BUUSJCVUFTWBMVFDBOCFVTFECZUIFTPVSDF PUIFSXJTFJUTSFTFU
    

    'PSFYBNQMF

    Q%SPQZPVSGBWPSJUFGSVJUTCFMPXQ
    PMDMBTTESPQ[POF
    POESBHFOUFSESBH&OUFS)BOEMFS FWFOU
    
    POESBHPWFSESBH0WFS)BOEMFS FWFOU
    
    POESPQESPQ)BOEMFS FWFOU
    
    PM
    TDSJQU
    WBSJOUFSOBM%/%5ZQFUFYUYFYBNQMFTFUUIJTUPTPNFUIJOHTQFDJGJDUPZPVSTJUF
    GVODUJPOESBH&OUFS)BOEMFS FWFOU
    \
    DBODFMUIFFWFOUJGUIFESBHDPOUBJOTEBUBPGPVSUZQF
    JG FWFOUEBUB5SBOTGFSUZQFTDPOUBJOT JOUFSOBM%/%5ZQF

    FWFOUQSFWFOU%FGBVMU
    
    ^
    GVODUJPOESBH0WFS)BOEMFS FWFOU
    \
    FWFOUEBUB5SBOTGFSESPQ&GGFDUNPWF
    FWFOUQSFWFOU%FGBVMU
    
    ^
    GVODUJPOESPQ)BOEMFS FWFOU
    \
    ESPQUIFEBUB
    WBSMJEPDVNFOUDSFBUF&MFNFOU MJ
    
    WBSEBUBFWFOUEBUB5SBOTGFSHFU%BUB JOUFSOBM%/%5ZQF
    
    JG EBUBGSVJUBQQMF
    \
    MJUFYU$POUFOU"QQMFT
    ^FMTFJG EBUBGSVJUPSBOHF
    \
    MJUFYU$POUFOU0SBOHFT
    ^FMTFJG EBUBGSVJUQFBS
    \
    MJUFYU$POUFOU1FBST
    ^FMTF\
    MJUFYU$POUFOU6OLOPXO'SVJU
    ^
    FWFOUUBSHFUBQQFOE$IJME MJ
    
    ^
    TDSJQU

    5PSFNPWFUIFPSJHJOBMFMFNFOU UIFPOFUIBUXBTESBHHFE
    GSPNUIFEJTQMBZ UIF ESBHFOE Q FWFOUDBOCFVTFE

    'PSPVSFYBNQMFIFSF UIBUNFBOTVQEBUJOHUIFPSJHJOBMNBSLVQUPIBOEMFUIBUFWFOU

    Q8IBUGSVJUTEPZPVMJLF Q
    PMPOESBHTUBSUESBH4UBSU)BOEMFS FWFOU
    POESBHFOEESBH&OE)BOEMFS FWFOU
    
    <N=@AJM@
    PM
    TDSJQU
    GVODUJPOESBH4UBSU)BOEMFS FWFOU
    \
     <N=@AJM@
    ^
    GVODUJPOESBH&OE)BOEMFS FWFOU
    \
    SFNPWFUIFESBHHFEFMFNFOU
    FWFOUUBSHFUQBSFOU/PEFSFNPWF$IJME FWFOUUBSHFU
    

    
    ^
    TDSJQU

       0B? "M<B#Q@IO K ;H> "<O<2M<INA@M K CHN?L@;=?M

    5IFESBHBOEESPQQSPDFTTJOHNPEFMJOWPMWFTTFWFSBMFWFOUT5IFZBMMVTFUIF %SBH&WFOU Q JOUFSGBDF

    JOUFSGBDF "M<B#Q@IO  .PVTF&WFOU \


    SFBEPOMZBUUSJCVUF %BUB5SBOTGFS EBUB5SBOTGFS

    WPJE JOJU%SBH&WFOU JO%0.4USJOHUZQF"SH JOCPPMFBODBO#VCCMF"SH JOCPPMFBO


    DBODFMBCMF"SH JOBOZEVNNZ"SH JOMPOHEFUBJM"SH JOMPOHTDSFFO9"SH JOMPOHTDSFFO:"SH
    JOMPOHDMJFOU9"SH JOMPOHDMJFOU:"SH JOCPPMFBODUSM,FZ"SH JOCPPMFBOBMU,FZ"SH JO
    CPPMFBOTIJGU,FZ"SH JOCPPMFBONFUB,FZ"SH JOVOTJHOFETIPSUCVUUPO"SH JO&WFOU5BSHFU
    SFMBUFE5BSHFU"SH JO %BUB5SBOTGFS EBUB5SBOTGFS"SH
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >O>GM ?<O<2M<INA@M
    3FUVSOTUIF %BUB5SBOTGFS Q PCKFDUGPSUIFFWFOU

    5IF DIDO"M<B#Q@IO NFUIPENVTUJOJUJBMJ[FUIFFWFOUJOBNBOOFSBOBMPHPVTUPUIFTJNJMBSMZOBNFENFUIPEJOUIF


    %0.&WFOUTJOUFSGBDFT FYDFQUUIBUUIF 3D<<HA6 BSHVNFOUNVTUCFJHOPSFE <%0.&7&/54> Q

    5IF ?<O<2M<INA@M BUUSJCVUFPGUIF %SBH&WFOU Q JOUFSGBDFSFQSFTFOUTUIFDPOUFYUJOGPSNBUJPOGPSUIFFWFOU

    JOUFSGBDF "<O<2M<INA@M \
    BUUSJCVUF%0.4USJOH ESPQ&GGFDU
    BUUSJCVUF%0.4USJOH FGGFDU"MMPXFE

    SFBEPOMZBUUSJCVUF%0.4USJOH-JTU UZQFT
    WPJE DMFBS%BUB JOPQUJPOBM%0.4USJOHGPSNBU
    
    WPJE TFU%BUB JO%0.4USJOHGPSNBU JO%0.4USJOHEBUB
    
    %0.4USJOH HFU%BUB JO%0.4USJOHGPSNBU
    
    SFBEPOMZBUUSJCVUF 'JMF-JTU GJMFT

    WPJE TFU%SBH*NBHF JO&MFNFOUJNBHF JOMPOHY JOMPOHZ


    
    WPJE BEE&MFNFOU JO&MFNFOUFMFNFOU
    
    ^

    %BUB5SBOTGFS Q PCKFDUTDBOIPMEQJFDFTPGEBUB FBDIBTTPDJBUFEXJUIBVOJRVFGPSNBU'PSNBUTBSFHFOFSBMMZHJWFO


    CZ .*.&UZQFT Q XJUITPNFWBMVFTTQFDJBMDBTFEGPSMFHBDZSFBTPOT)PXFWFS UIF"1*EPFTOPUFOGPSDFUIJTOPO
    .*.&UZQFWBMVFTDBOCFBEEFEBTXFMM"MMGPSNBUTBSFJEFOUJИFECZTUSJOHTUIBUBSF DPOWFSUFEUP"4$**MPXFSDBTF Q
    CZUIF"1*

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =:M:0K:GL?>K ?MJK#AA@>O 7 O:EN> 8
    3FUVSOTUIFLJOEPGPQFSBUJPOUIBUJTDVSSFOUMZTFMFDUFE*GUIFLJOEPGPQFSBUJPOJTOUPOFPGUIPTFUIBUJT
    BMMPXFECZUIF FGGFDU"MMPXFE Q BUUSJCVUF UIFOUIFPQFSBUJPOXJMMGBJM
    $BOCFTFU UPDIBOHFUIFTFMFDUFEPQFSBUJPO
    5IFQPTTJCMFWBMVFTBSF OPOF DPQZ MJOL BOE NPWF

    =:M:0K:GL?>K @AA@>OGGJR@? K 7 O:EN> 8


    3FUVSOTUIFLJOETPGPQFSBUJPOTUIBUBSFUPCFBMMPXFE
    $BOCFTFU UPDIBOHFUIFBMMPXFEPQFSBUJPOT
    5IFQPTTJCMFWBMVFTBSF OPOF DPQZ DPQZ-JOL DPQZ.PWF MJOL MJOL.PWF NPWF BMM BOE VOJOJUJBMJ[FE

    
    =:M:0K:GL?>K OTK@N K
    3FUVSOTB %0.4USJOH-JTU MJTUJOHUIFGPSNBUTUIBUXFSFTFUJOUIF ESBHTUBSU Q FWFOU*OBEEJUJPO JGBOZ
    ИMFTBSFCFJOHESBHHFE UIFOPOFPGUIFUZQFTXJMMCFUIFTUSJOH'JMFT

    =:M:0K:GL?>K >G@<M"<O< K 7 ?HKF:M 8


    3FNPWFTUIFEBUBPGUIFTQFDJИFEGPSNBUT3FNPWFTBMMEBUBJGUIFBSHVNFOUJTPNJUUFE

    =:M:0K:GL?>K N@O"<O< K ?HKF:M


    =:M:
    "EETUIFTQFDJИFEEBUB

    =:M:  =:M:0K:GL?>K B@O"<O< K ?HKF:M


    3FUVSOTUIFTQFDJИFEEBUB*GUIFSFJTOPTVDIEBUB SFUVSOTUIFFNQUZTUSJOH

    =:M:0K:GL?>K ADG@N K


    3FUVSOTB 'JMF-JTU PGUIFИMFTCFJOHESBHHFE JGBOZ

    =:M:0K:GL?>K N@O"M<B'H<B@ K >E>F>GM


    Q
    R
    6TFTUIFHJWFOFMFNFOUUPVQEBUFUIFESBHGFFECBDL SFQMBDJOHBOZQSFWJPVTMZTQFDJИFEGFFECBDL

    =:M:0K:GL?>K <??#G@H@IO K >E>F>GM


    "EETUIFHJWFOFMFNFOUUPUIFMJTUPGFMFNFOUTVTFEUPSFOEFSUIFESBHGFFECBDL

    8IFOB %BUB5SBOTGFS Q PCKFDUJTDSFBUFE JUNVTUCFJOJUJBMJ[FEBTGPMMPXT

    Ǭ 5IF %BUB5SBOTGFS Q PCKFDUNVTUJOJUJBMMZDPOUBJOOPEBUB OPFMFNFOUT BOEIBWFOPBTTPDJBUFEJNBHF

    Ǭ 5IF %BUB5SBOTGFS Q PCKFDUT FGGFDU"MMPXFE Q BUUSJCVUFNVTUCFTFUUPVOJOJUJBMJ[FE

    Ǭ 5IF ESPQ&GGFDU Q BUUSJCVUFNVTUCFTFUUPOPOF

    5IF ?MJK#AA@>O BUUSJCVUFDPOUSPMTUIFESBHBOEESPQGFFECBDLUIBUUIFVTFSJTHJWFOEVSJOHBESBHBOEESPQ


    PQFSBUJPO

    5IFBUUSJCVUFNVTUJHOPSFBOZBUUFNQUTUPTFUJUUPBWBMVFPUIFSUIBO OPOF DPQZ MJOL BOE NPWF0OHFUUJOH UIF


    BUUSJCVUFNVTUSFUVSOUIFMBTUPGUIPTFGPVSWBMVFTUIBUJUXBTTFUUP

    5IF @AA@>OGGJR@? BUUSJCVUFJTVTFEJOUIFESBHBOEESPQQSPDFTTJOHNPEFMUPJOJUJBMJ[FUIF ESPQ&GGFDU Q BUUSJCVUF


    EVSJOHUIF ESBHFOUFS Q BOE ESBHPWFS Q FWFOUT

    5IFBUUSJCVUFNVTUJHOPSFBOZBUUFNQUTUPTFUJUUPBWBMVFPUIFSUIBO OPOF DPQZ DPQZ-JOL DPQZ.PWF MJOL


    MJOL.PWF NPWF BMM BOE VOJOJUJBMJ[FE0OHFUUJOH UIFBUUSJCVUFNVTUSFUVSOUIFMBTUPGUIPTFWBMVFTUIBUJUXBTTFU
    UP

    5IF OTK@N BUUSJCVUFNVTUSFUVSOB MJWF Q %0.4USJOH-JTU UIBUDPOUBJOTUIFMJTUPGGPSNBUTUIBUXFSFBEEFEUPUIF


    %BUB5SBOTGFS Q PCKFDUJOUIFDPSSFTQPOEJOH ESBHTUBSU Q FWFOU5IFTBNFPCKFDUNVTUCFSFUVSOFEFBDIUJNF*G
    BOZИMFTXFSFJODMVEFEJOUIFESBH UIFOUIF %0.4USJOH-JTU PCKFDUNVTUJOBEEJUJPOJODMVEFUIFTUSJOH'JMFT 5IJT
    WBMVFDBOCFEJTUJOHVJTIFEGSPNUIFPUIFSWBMVFTCFDBVTFJUJTOPUMPXFSDBTF

    5IF >G@<M"<O< NFUIPE XIFODBMMFEXJUIOPBSHVNFOUT NVTUDMFBSUIF %BUB5SBOTGFS Q PCKFDUPGBMMEBUB GPSBMM


    GPSNBUT
    

    *HM> 0A> <E>:K#:M: I F>MAH==H>LGHM:Z><MPA>MA>K:GR[E>LP>K>BG<EN=>=BGMA>=K:@ LH


    MA> MRI>L I :MMKB;NM>LEBLMFB@AMLMBEEGHM;>>FIMR:?M>K<:EEBG@ <E>:K#:M: I BMPHNE=LMBEE
    <HGM:BGMA>%BE>LLMKBG@B?:GR[E>LP>K>BG<EN=>=BGMA>=K:@

    8IFODBMMFEXJUIBOBSHVNFOU UIF DMFBS%BUB '*%,


    Q NFUIPENVTUDMFBSUIF %BUB5SBOTGFS Q PCKFDUPGBOZ
    EBUBBTTPDJBUFEXJUIUIFHJWFO 5>A<0C DPOWFSUFEUP"4$**MPXFSDBTF Q *G 5>A<0C BGUFSDPOWFSTJPOUPMPXFSDBTF
    JTUIF
    WBMVFUFYU UIFOJUNVTUCFUSFBUFEBTUFYUQMBJO*GUIF 5>A<0C BGUFSDPOWFSTJPOUPMPXFSDBTF
    JTVSM UIFOJU
    NVTUCFUSFBUFEBTUFYUVSJMJTU

    5IF N@O"<O<?HKF:M =:M: NFUIPENVTUBEE 30C0 UPUIFEBUBTUPSFEJOUIF %BUB5SBOTGFS Q PCKFDU MBCFMFEBT
    CFJOHPGUIFUZQF 5>A<0C DPOWFSUFEUP"4$**MPXFSDBTF Q 5IJTNVTUSFQMBDFBOZQSFWJPVTEBUBUIBUIBECFFOTFUGPS

    
    UIBUGPSNBU*G 5>A<0C BGUFSDPOWFSTJPOUPMPXFSDBTF
    JTUIFWBMVFUFYU UIFOJUNVTUCFUSFBUFEBTUFYUQMBJO*G
    UIF 5>A<0C BGUFSDPOWFSTJPOUPMPXFSDBTF
    JTVSM UIFOJUNVTUCFUSFBUFEBTUFYUVSJMJTU

    5IF B@O"<O<?HKF:M NFUIPENVTUSFUVSOUIFEBUBUIBUJTBTTPDJBUFEXJUIUIFUZQF 5>A<0C DPOWFSUFEUP"4$**


    MPXFSDBTF Q JGBOZ BOENVTUSFUVSOUIFFNQUZTUSJOHPUIFSXJTF*G 5>A<0C BGUFSDPOWFSTJPOUPMPXFSDBTF
    JTUIFWBMVF
    UFYU UIFOJUNVTUCFUSFBUFEBTUFYUQMBJO*GUIF 5>A<0C BGUFSDPOWFSTJPOUPMPXFSDBTF
    JTVSM UIFOUIFEBUB
    BTTPDJBUFEXJUIUIFUFYUVSJMJTUGPSNBUNVTUCFQBSTFEBTBQQSPQSJBUFGPS UFYUVSJMJTU EBUB BOEUIFИSTU63-
    GSPNUIFMJTUNVTUCFSFUVSOFE*GUIFSFJTOPEBUBXJUIUIBUGPSNBU PSJGUIFSFJTCVUJUIBTOP63-T UIFOUIFNFUIPE
    NVTUSFUVSOUIFFNQUZTUSJOH <3'$> Q

    5IF ADG@N BUUSJCVUFNVTUSFUVSOUIF 'JMF-JTU PCKFDUUIBUDPOUBJOTUIFИMFTUIBUBSFTUPSFEJOUIF %BUB5SBOTGFS Q


    PCKFDU5IFSFJTPOFTVDIPCKFDUQFS %BUB5SBOTGFS Q PCKFDU

    *HM> 0ABLO>KLBHGH?MA>,%=H>LGHM>QIHL>MA>MRI>LH?MA>[E>L=NKBG@MA>=K:@

    5IF N@O"M<B'H<B@>E>F>GM Q R NFUIPETFUTXIJDIFMFNFOUUPVTF UPHFOFSBUFUIFESBHGFFECBDL Q 5IF


    4;4<4=C BSHVNFOUDBOCFBOZ &MFNFOU Q JGJUJTBO JNH Q FMFNFOU UIFOUIFVTFSBHFOUTIPVMEVTFUIFFMFNFOUT
    JNBHF BUJUTJOUSJOTJDTJ[F
    UPHFOFSBUFUIFGFFECBDL PUIFSXJTFUIFVTFSBHFOUTIPVMECBTFUIFGFFECBDLPOUIFHJWFO
    FMFNFOU CVUUIFFYBDUNFDIBOJTNGPSEPJOHTPJTOPUTQFDJИFE
    

    5IF <??#G@H@IO>E>F>GM NFUIPEJTBOBMUFSOBUJWFXBZPGTQFDJGZJOHIPXUIFVTFSBHFOUJTUP SFOEFSUIFESBH


    GFFECBDL Q *UBEETBOFMFNFOUUPUIF %BUB5SBOTGFS Q PCKFDU

    *HM> 0A>=BZ>K>G<>;>MP>>G L>M#K:@(F:@> I :G= :==$E>F>GM I BLMA:MMA>E:MM>K


    :NMHF:MB<:EER@>G>K:M>LMA>BF:@>;:L>=HGMA><NKK>GMK>G=>KBG@H?MA>>E>F>GML:==>=
    PA>K>:LMA>?HKF>KNL>LMA>>Q:<MLI><B[>=BF:@>

       !P?HNM]L?>>OLCHA;>L;A ;H> >LIJ;=NCIH

    5IFGPMMPXJOHFWFOUTBSFJOWPMWFEJOUIFESBHBOEESPQNPEFM

    8IFOFWFSUIFQSPDFTTJOHNPEFMEFTDSJCFECFMPXDBVTFTPOFPGUIFTFFWFOUTUPCFИSFE UIFFWFOUИSFENVTUVTFUIF
    %SBH&WFOU Q JOUFSGBDFEFИOFEBCPWF NVTUIBWFUIFCVCCMJOHBOEDBODFMBCMFCFIBWJPSTHJWFOJOUIFUBCMFCFMPX BOE
    NVTUIBWFUIFDPOUFYUJOGPSNBUJPOTFUVQBTEFTDSJCFEBGUFSUIFUBCMF XJUIUIF EFUBJM BUUSJCVUFTFUUP[FSP UIF
    NPVTFBOELFZBUUSJCVUFTTFUBDDPSEJOHUPUIFTUBUFPGUIFJOQVUEFWJDFTBTUIFZXPVMECFGPSVTFSJOUFSBDUJPOFWFOUT
    BOEUIF SFMBUFE5BSHFU BUUSJCVUFTFUUPOVMM

    *GUIFSFJTOPSFMFWBOUQPJOUJOHEFWJDF UIFPCKFDUNVTUIBWFJUT TDSFFO9 TDSFFO: DMJFOU9 DMJFOU: BOE CVUUPO


    BUUSJCVUFTTFUUP

    !P?HN 0;LA?N O<<F?M ;H=?F;<F? ?<O<2M<INA@M @AA@>OGGJR@? K ?MJK#AA@>O K ?@;OFN=NCIH
    *;G?

    ?M<BNO<MO 4PVSDF υ υ$BODFMBCMF $POUBJOT TPVSDFOPEF Q VOMFTTB VOJOJUJBMJ[FE OPOF *OJUJBUFUIF
    OPEF Q #VCCMFT TFMFDUJPOJTCFJOHESBHHFE JOXIJDI ESBHBOEESPQ
    DBTFJUJTFNQUZ GJMFT Q SFUVSOT PQFSBUJPO
    BOZИMFTJODMVEFEJOUIFESBH
    PQFSBUJPO
    ?M<B 4PVSDF υ υ$BODFMBCMF &NQUZ 4BNFBTMBTU OPOF $POUJOVFUIF
    OPEF Q #VCCMFT FWFOU Q ESBHBOEESPQ
    PQFSBUJPO
    ?M<B@IO@M *NNFEJBUF υ υ$BODFMBCMF &NQUZ 4BNFBTMBTU #BTFEPO 3FKFDU
    VTFS #VCCMFT FWFOU Q FGGFDU"MMPXFE JNNFEJBUFVTFS
    TFMFDUJPO Q WBMVF Q TFMFDUJPO Q BT
    PS UIFCPEZ QPUFOUJBM UBSHFU
    FMFNFOU Q FMFNFOU Q
    ?M<BG@<Q@ 1SFWJPVT υ ǡ &NQUZ 4BNFBTMBTU OPOF /POF
    UBSHFU #VCCMFT FWFOU Q
    FMFNFOU Q
    ?M<BJQ@M $VSSFOU υ υ$BODFMBCMF &NQUZ 4BNFBTMBTU #BTFEPO 3FTFUUIF
    UBSHFU #VCCMFT FWFOU Q FGGFDU"MMPXFE DVSSFOUESBH
    FMFNFOU Q WBMVF Q
    PQFSBUJPO Q UP
    OPOF
    ?MJK $VSSFOU υ υ$BODFMBCMF HFU%BUB
    Q SFUVSOTEBUBTFUJO 4BNFBTMBTU $VSSFOUESBH 7BSJFT
    Q
    UBSHFU #VCCMFT ESBHTUBSU FWFOU GJMFT Q SFUVSOT FWFOU PQFSBUJPO Q
    FMFNFOU Q BOZИMFTJODMVEFEJOUIFESBH
    PQFSBUJPO
    ?M<B@I? 4PVSDF υ ǡ &NQUZ 4BNFBTMBTU $VSSFOUESBH 7BSJFT
    OPEF Q #VCCMFT FWFOU Q PQFSBUJPO Q

    
    *HM> !FIMRBGMA>M:;E>:;HO>F>:GLMA:MMA> @>M#:M: I :G= ?BE>L I :MMKB;NM>L:<M:LB?
    MA>K>BLGH=:M:;>BG@=K:@@>=

    5IF EBUB5SBOTGFS Q PCKFDUTDPOUFOUTBSFFNQUZ UIF HFU%BUB


    Q BOE GJMFT Q BUUSJCVUFTBDUBTJGUIFSFJTOPEBUB
    CFJOHESBHHFE
    FYDFQUGPS ESBHTUBSU Q FWFOUTBOE ESPQ Q FWFOUT GPSXIJDIUIFDPOUFOUTBSFTFUBTEFTDSJCFEJOUIF
    QSPDFTTJOHNPEFM CFMPX

    5IF FGGFDU"MMPXFE Q BUUSJCVUFNVTUCFTFUUPVOJOJUJBMJ[FEGPS ESBHTUBSU Q FWFOUT BOEUPXIBUFWFSWBMVFUIF


    ИFMEIBEBGUFSUIFMBTUESBHBOEESPQFWFOUXBTИSFEGPSBMMPUIFSFWFOUT POMZDPVOUJOHFWFOUTИSFECZUIFVTFSBHFOU
    GPSUIFQVSQPTFTPGUIFESBHBOEESPQNPEFMEFTDSJCFECFMPX
    

    5IF ESPQ&GGFDU Q BUUSJCVUFNVTUCFTFUUPOPOFGPS ESBHTUBSU Q ESBH Q BOE ESBHMFBWF Q FWFOUT FYDFQU
    XIFOTUBUFEPUIFSXJTFJOUIFBMHPSJUINTHJWFOJOUIFTFDUJPOTCFMPX
    UPUIFWBMVFDPSSFTQPOEJOHUPUIF DVSSFOUESBH
    PQFSBUJPO Q GPS ESPQ Q BOE ESBHFOE Q FWFOUT BOEUPBWBMVFCBTFEPOUIF FGGFDU"MMPXFE Q BUUSJCVUFTWBMVFBOE
    UPUIFESBHBOEESPQTPVSDF BTHJWFOCZUIFGPMMPXJOHUBCMF GPSUIFSFNBJOJOHFWFOUT ESBHFOUFS Q BOE
    ESBHPWFS Q
    

    @AA@>OGGJR@? K ?MJK#AA@>O K

    OPOF OPOF
    DPQZ DPQZ-JOL DPQZ.PWF BMM DPQZ
    MJOL MJOL.PWF MJOL
    NPWF NPWF
    VOJOJUJBMJ[FE XIFOXIBUJTCFJOHESBHHFEJTBTFMFDUJPOGSPNBUFYUИFME NPWF
    VOJOJUJBMJ[FE XIFOXIBUJTCFJOHESBHHFEJTBTFMFDUJPO DPQZ
    VOJOJUJBMJ[FE XIFOXIBUJTCFJOHESBHHFEJTBO B Q FMFNFOUXJUIBO ISFG BUUSJCVUF MJOL
    "OZPUIFSDBTF DPQZ

       L;A ;H> >LIJJLI=?MMCHAGI>?F

    8IFOUIFVTFSBUUFNQUTUPCFHJOBESBHPQFSBUJPO UIFVTFSBHFOUNVTUИSTUEFUFSNJOFXIBUJTCFJOHESBHHFE*GUIF
    ESBHPQFSBUJPOXBTJOWPLFEPOBTFMFDUJPO UIFOJUJTUIFTFMFDUJPOUIBUJTCFJOHESBHHFE0UIFSXJTF JUJTUIFИSTU
    FMFNFOU HPJOHVQUIFBODFTUPSDIBJO TUBSUJOHBUUIFOPEFUIBUUIFVTFSUSJFEUPESBH UIBUIBTUIF*%-BUUSJCVUF
    ESBHHBCMF Q TFUUPUSVF*GUIFSFJTOPTVDIFMFNFOU UIFOOPUIJOHJTCFJOHESBHHFE UIFESBHBOEESPQPQFSBUJPOJT
    OFWFSTUBSUFE BOEUIFVTFSBHFOUNVTUOPUDPOUJOVFXJUIUIJTBMHPSJUIN

    *HM> BF@ I >E>F>GML:G= : I >E>F>GMLPBMA:G AK>? I :MMKB;NM>A:O>MA>BK =K:@@:;E> I
    :MMKB;NM>L>MMHMKN>;R=>?:NEM

    *GUIFVTFSBHFOUEFUFSNJOFTUIBUTPNFUIJOHDBOCFESBHHFE B ESBHTUBSU Q FWFOUNVTUUIFOCFИSFEBUUIF TPVSDF


    OPEF Q 

    5IF MIOL=?HI>? EFQFOETPOUIFLJOEPGESBHBOEIPXJUXBTJOJUJBUFE*GJUJTBTFMFDUJPOUIBUJTCFJOHESBHHFE UIFO


    UIF TPVSDFOPEF Q JTUIFUFYUOPEFUIBUUIFVTFSTUBSUFEUIFESBHPO UZQJDBMMZUIFUFYUOPEFUIBUUIFVTFSPSJHJOBMMZ
    DMJDLFE
    *GUIFVTFSEJEOPUTQFDJGZBQBSUJDVMBSOPEF GPSFYBNQMFJGUIFVTFSKVTUUPMEUIFVTFSBHFOUUPCFHJOBESBHPG
    UIFTFMFDUJPO UIFOUIF TPVSDFOPEF Q JTUIFИSTUUFYUOPEFDPOUBJOJOHBQBSUPGUIFTFMFDUJPO*GJUJTOPUBTFMFDUJPO
    UIBUJTCFJOHESBHHFE UIFOUIF TPVSDFOPEF Q JTUIFFMFNFOUUIBUJTCFJOHESBHHFE

    .VMUJQMFFWFOUTBSFИSFEPOUIF TPVSDFOPEF Q EVSJOHUIFDPVSTFPGUIFESBHBOEESPQPQFSBUJPO

    5IF FCMNI@>L;AA?>HI>?M BMTPEFQFOETPOUIFLJOEPGESBH*GJUJTBTFMFDUJPOUIBUJTCFJOHESBHHFE UIFOUIF MJTUPG


    ESBHHFEOPEFT Q DPOUBJOT JO USFFPSEFS Q FWFSZOPEFUIBUJTQBSUJBMMZPSDPNQMFUFMZJODMVEFEJOUIFTFMFDUJPO
    JODMVEJOHBMMUIFJSBODFTUPST
    0UIFSXJTF UIF MJTUPGESBHHFEOPEFT Q DPOUBJOTPOMZUIF TPVSDFOPEF Q 

    *GJUJTBTFMFDUJPOUIBUJTCFJOHESBHHFE UIF EBUB5SBOTGFS Q NFNCFSPGUIFFWFOUNVTUCFDSFBUFEXJUIOPOPEFT


    0UIFSXJTF JUNVTUCFDSFBUFEDPOUBJOJOHKVTUUIF TPVSDFOPEF Q 4DSJQUDBOVTFUIF BEE&MFNFOU
    Q NFUIPEUPBEE
    GVSUIFSFMFNFOUTUPUIFMJTUPGXIBUJTCFJOHESBHHFE 5IJTMJTUJTPOMZVTFEGPSSFOEFSJOHUIFESBHGFFECBDL

    5IF EBUB5SBOTGFS Q NFNCFSPGUIFFWFOUBMTPIBTEBUBBEEFEUPJU BTGPMMPXT

    Ǭ *GJUJTBTFMFDUJPOUIBUJTCFJOHESBHHFE UIFOUIFVTFSBHFOUNVTUBEEUIFUFYUPGUIFTFMFDUJPOUPUIF
    EBUB5SBOTGFS Q NFNCFS BTTPDJBUFEXJUIUIF UFYUQMBJO GPSNBU

    
    Ǭ *GИMFTBSFCFJOHESBHHFE UIFOUIFVTFSBHFOUNVTUBEEUIFИMFTUPUIF EBUB5SBOTGFS Q NFNCFST
    GJMFT Q BUUSJCVUFT 'JMF-JTU PCKFDU %SBHHJOHИMFTDBOPOMZIBQQFOGSPNPVUTJEFB CSPXTJOHDPOUFYU Q
    GPSFYBNQMFGSPNBИMFTZTUFNNBOBHFSBQQMJDBUJPO BOEUIVTUIF ESBHTUBSU Q FWFOUJTBDUVBMMZJNQMJFEJO
    UIJTDBTF

    Ǭ 5IFVTFSBHFOUNVTUUBLFUIF MJTUPGESBHHFEOPEFT Q BOE FYUSBDUUIFNJDSPEBUBGSPNUIPTFOPEFTJOUPB


    +40/GPSN Q BOEUIFONVTUBEEUIFSFTVMUJOHTUSJOHUPUIF EBUB5SBOTGFS Q NFNCFS BTTPDJBUFEXJUIUIF
    BQQMJDBUJPONJDSPEBUB KTPO GPSNBU

    Ǭ 5IFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     -FU DA;B CFBOFNQUZMJTUPG BCTPMVUF63-T Q 

     'PSFBDI =>34 JO =>34B

    %@NB?HI>?CM;H < K ?F?G?HNQCNB;H CM@A K


    "EEUP DA;B UIFSFTVMUPG SFTPMWJOH Q UIFFMFNFOUT ISFG Q DPOUFOUBUUSJCVUFSFMBUJWFUPUIF
    FMFNFOU

    %@NB?HI>?CM;H DHB K ?F?G?HNQCNB;H NM> K


    "EEUP DA;B UIFSFTVMUPG SFTPMWJOH Q UIFFMFNFOUT TSD Q DPOUFOUBUUSJCVUFSFMBUJWFUPUIF
    FMFNFOU

     *G DA;B JTTUJMMFNQUZ BCPSUUIFTFTUFQT

     -FU DA;BCA8=6 CFUIFSFTVMUPGDPODBUFOBUJOHUIFTUSJOHTJO DA;B JOUIFPSEFSUIFZXFSFBEEFE


    TFQBSBUFECZB6 %$"33*"(&3&563/6 "-*/&'&&%DIBSBDUFSQBJS $3-'
    

     "EE DA;BCA8=6 UPUIF EBUB5SBOTGFS Q NFNCFS BTTPDJBUFEXJUIUIF UFYUVSJMJTU GPSNBU

    *GUIFFWFOUJTDBODFMFE UIFOUIFESBHBOEESPQPQFSBUJPONVTUOPUPDDVSUIFVTFSBHFOUNVTUOPUDPOUJOVFXJUIUIJT
    BMHPSJUIN

    *GJUJTOPUDBODFMFE UIFOUIFESBHBOEESPQPQFSBUJPONVTUCFJOJUJBUFE

    *HM> /BG<>>O>GMLPBMAGH>O>GMEBLM>G>KLK>@BLM>K>=:K> :EFHLM;R=>[GBMBHG G>O>K<:G<>E>=


    =K:@
    :G=
    =KHIBL:EP:RL:O:BE:;E>MHMA>NL>KB?MA>:NMAHK=H>LGHMLI><B[<:EERIK>O>GMBM

    5IFESBHBOEESPQGFFECBDLNVTUCFHFOFSBUFEGSPNUIFИSTUPGUIFGPMMPXJOHTPVSDFTUIBUJTBWBJMBCMF

     5IFFMFNFOUTQFDJИFEJOUIFMBTUDBMMUPUIF TFU%SBH*NBHF
    Q NFUIPEPGUIF EBUB5SBOTGFS Q PCKFDUPG
    UIF ESBHTUBSU Q FWFOU JGUIFNFUIPEXBTDBMMFE*OWJTVBMNFEJB JGUIJTJTVTFE UIF G BOE H BSHVNFOUT
    UIBUXFSFQBTTFEUPUIBUNFUIPETIPVMECFVTFEBTIJOUTGPSXIFSFUPQVUUIFDVSTPSSFMBUJWFUPUIFSFTVMUJOH
    JNBHF5IFWBMVFTBSFFYQSFTTFEBTEJTUBODFTJO$44QJYFMTGSPNUIFMFGUTJEFBOEGSPNUIFUPQTJEFPGUIF
    JNBHFSFTQFDUJWFMZ <$44> Q

     5IFFMFNFOUTUIBUXFSFBEEFEUPUIF EBUB5SBOTGFS Q PCKFDU CPUICFGPSFUIFFWFOUXBTИSFE BOEEVSJOH


    UIFIBOEMJOHPGUIFFWFOUVTJOHUIF BEE&MFNFOU
    Q NFUIPE JGBOZTVDIFMFNFOUTXFSFJOEFFEBEEFE

     5IFTFMFDUJPOUIBUUIFVTFSJTESBHHJOH

    5IFVTFSBHFOUNVTUUBLFBOPUFPG UIFEBUBUIBUXBTQMBDFE Q JOUIF EBUB5SBOTGFS Q PCKFDU5IJTEBUBXJMMCFNBEF


    BWBJMBCMFBHBJOXIFOUIF ESPQ Q FWFOUJTИSFE

    'SPNUIJTQPJOUVOUJMUIFFOEPGUIFESBHBOEESPQPQFSBUJPO EFWJDFJOQVUFWFOUT FHNPVTFBOELFZCPBSEFWFOUT

    NVTUCFTVQQSFTTFE*OBEEJUJPO UIFVTFSBHFOUNVTUUSBDLBMM%0.DIBOHFTNBEFEVSJOHUIFESBHBOEESPQ
    PQFSBUJPO BOEBEEUIFNUPJUT VOEPIJTUPSZ Q BTPOFBUPNJDPQFSBUJPOPODFUIFESBHBOEESPQPQFSBUJPOIBTFOEFE

    %VSJOHUIFESBHPQFSBUJPO UIFFMFNFOUEJSFDUMZJOEJDBUFECZUIFVTFSBTUIFESPQUBSHFUJTDBMMFEUIF CGG?>C;N?OM?L


    M?F?=NCIH 0OMZFMFNFOUTDBOCFTFMFDUFECZUIFVTFSPUIFSOPEFTNVTUOPUCFNBEFBWBJMBCMFBTESPQUBSHFUT

    )PXFWFS UIF JNNFEJBUFVTFSTFMFDUJPO Q JTOPUOFDFTTBSJMZUIF =OLL?HNN;LA?N?F?G?HN XIJDIJTUIFFMFNFOU


    DVSSFOUMZTFMFDUFEGPSUIFESPQQBSUPGUIFESBHBOEESPQPQFSBUJPO5IF JNNFEJBUFVTFSTFMFDUJPO Q DIBOHFTBTUIF
    VTFSTFMFDUTEJЗFSFOUFMFNFOUT FJUIFSCZQPJOUJOHBUUIFNXJUIBQPJOUJOHEFWJDF PSCZTFMFDUJOHUIFNJOTPNFPUIFS
    XBZ
    5IF DVSSFOUUBSHFUFMFNFOU Q DIBOHFTXIFOUIF JNNFEJBUFVTFSTFMFDUJPO Q DIBOHFT CBTFEPOUIFSFTVMUTPG
    FWFOUMJTUFOFSTJOUIFEPDVNFOU BTEFTDSJCFECFMPX

    
    #PUIUIF DVSSFOUUBSHFUFMFNFOU Q BOEUIF JNNFEJBUFVTFSTFMFDUJPO Q DBOCFOVMM XIJDINFBOTOPUBSHFUFMFNFOU
    JTTFMFDUFE5IFZDBOBMTPCPUICFFMFNFOUTJOPUIFS %0.CBTFE
    EPDVNFOUT PSPUIFS OPO8FC
    QSPHSBNT
    BMUPHFUIFS 'PSFYBNQMF BVTFSDPVMEESBHUFYUUPBXPSEQSPDFTTPS
    5IF DVSSFOUUBSHFUFMFNFOU Q JTJOJUJBMMZOVMM

    *OBEEJUJPO UIFSFJTBMTPB =OLL?HN>L;AIJ?L;NCIH XIJDIDBOUBLFPOUIFWBMVFTOPOF DPQZ MJOL BOENPWF


    *OJUJBMMZ JUIBTUIFWBMVFOPOF*UJTVQEBUFECZUIFVTFSBHFOUBTEFTDSJCFEJOUIFTUFQTCFMPX

    6TFSBHFOUTNVTU BTTPPOBTUIFESBHPQFSBUJPOJTJOJUJBUFEBOEFWFSZNT oNT


    UIFSFBGUFSGPSBTMPOHBTUIF
    ESBHPQFSBUJPOJTPOHPJOH RVFVFBUBTL Q UPQFSGPSNUIFGPMMPXJOHTUFQTJOTFRVFODF

     *GUIFVTFSBHFOUJTTUJMMQFSGPSNJOHUIFQSFWJPVTJUFSBUJPOPGUIFTFRVFODF JGBOZ
    XIFOUIFOFYUJUFSBUJPO
    CFDPNFTEVF UIFVTFSBHFOUNVTUOPUFYFDVUFUIFPWFSEVFJUFSBUJPO FЗFDUJWFMZTLJQQJOHNJTTFEGSBNFT
    PGUIFESBHBOEESPQPQFSBUJPO

     5IFVTFSBHFOUNVTUИSFB ESBH Q FWFOUBUUIF TPVSDFOPEF Q *GUIJTFWFOUJTDBODFMFE UIFVTFSBHFOU


    NVTUTFUUIF DVSSFOUESBHPQFSBUJPO Q UPOPOF OPESBHPQFSBUJPO
    

     /FYU JGUIF ESBH Q FWFOUXBTOPUDBODFMFEBOEUIFVTFSIBTOPUFOEFEUIFESBHBOEESPQPQFSBUJPO UIF


    VTFSBHFOUNVTUDIFDLUIFTUBUFPGUIFESBHBOEESPQPQFSBUJPO BTGPMMPXT

     'JSTU JGUIFVTFSJTJOEJDBUJOHBEJЗFSFOU JNNFEJBUFVTFSTFMFDUJPO Q UIBOEVSJOHUIFMBTUJUFSBUJPO


    PSJGUIJTJTUIFИSTUJUFSBUJPO
    BOEJGUIJT JNNFEJBUFVTFSTFMFDUJPO Q JTOPUUIFTBNFBTUIF
    DVSSFOUUBSHFUFMFNFOU Q UIFOUIF DVSSFOUUBSHFUFMFNFOU Q NVTUCFVQEBUFE BTGPMMPXT
    J
    X %@NB?H?Q CGG?>C;N?OM?LM?F?=NCIH CMHOFF
    ILCMCH;HIH +)>I=OG?HNIL
    ;JJFC=;NCIH
    5IFVTFSBHFOUNVTUTFUUIF DVSSFOUUBSHFUFMFNFOU Q UPUIFTBNFWBMVF

    X +NB?LQCM?
    5IFVTFSBHFOUNVTUИSFB ESBHFOUFS Q FWFOUBUUIF JNNFEJBUFVTFSTFMFDUJPO Q 

    *GUIFFWFOUJTDBODFMFE UIFOUIF DVSSFOUUBSHFUFMFNFOU Q NVTUCFTFUUPUIF


    JNNFEJBUFVTFSTFMFDUJPO Q 

    0UIFSXJTF UIFVTFSBHFOUNVTUBDUBTGPMMPXT
    J
    X %@NB? =OLL?HNN;LA?N?F?G?HN CM;N?RN]?F>? A O@SO<M@< K
    IL;H
    K K
    DIKPO ?F?G?HNQBIM? OTK@ ;NNLC<ON?CMCHNB? 0?RN J MN;N?IL;H
    ?>CN;<F? J ?F?G?HN
    5IF DVSSFOUUBSHFUFMFNFOU Q NVTUCFTFUUPUIF JNNFEJBUFVTFSTFMFDUJPO Q
    BOZXBZ
    J
    X %@NB? =OLL?HNN;LA?N?F?G?HN CM NB?<I>S?F?G?HN J
    Q
    5IF DVSSFOUUBSHFUFMFNFOU JTMFGUVODIBOHFE

    X +NB?LQCM?
    5IFVTFSBHFOUNVTUИSFB ESBHFOUFS Q FWFOUBU UIFCPEZFMFNFOU Q BOEUIF
    DVSSFOUUBSHFUFMFNFOU Q NVTUCFTFUUP UIFCPEZFMFNFOU Q SFHBSEMFTTPG
    XIFUIFSUIBUFWFOUXBTDBODFMFEPSOPU *G UIFCPEZFMFNFOU Q JTOVMM UIFO
    UIF DVSSFOUUBSHFUFMFNFOU Q XPVMECFTFUUPOVMMUPPJOUIJTDBTF JUXPVMEOU
    CFTFUUPUIF %PDVNFOU Q PCKFDU

     *GUIFQSFWJPVTTUFQDBVTFEUIF DVSSFOUUBSHFUFMFNFOU Q UPDIBOHF BOEJGUIFQSFWJPVTUBSHFU


    FMFNFOUXBTOPUOVMMPSBQBSUPGBOPO%0.EPDVNFOU UIFVTFSBHFOUNVTUИSFB ESBHMFBWF Q
    FWFOUBUUIFQSFWJPVTUBSHFUFMFNFOU

     *GUIF DVSSFOUUBSHFUFMFNFOU Q JTB%0.FMFNFOU UIFVTFSBHFOUNVTUИSFB ESBHPWFS Q FWFOU


    BUUIJT DVSSFOUUBSHFUFMFNFOU Q 

    *GUIF ESBHPWFS Q FWFOUJTOPUDBODFMFE UIFVTFSBHFOUNVTUBDUBTGPMMPXT


    J
    X %@NB? =OLL?HNN;LA?N?F?G?HN CM;N?RN]?F>? A O@SO<M@< K
    IL;H DIKPO K
    K
    ?F?G?HNQBIM? OTK@ ;NNLC<ON?CMCHNB? 0?RN J MN;N?IL;H ?>CN;<F? J ?F?G?HN
    5IFVTFSBHFOUNVTUTFUUIF DVSSFOUESBHPQFSBUJPO Q UPFJUIFSDPQZPSNPWF BT
    BQQSPQSJBUFHJWFOUIFQMBUGPSNDPOWFOUJPOT

    X +NB?LQCM?
    5IFVTFSBHFOUNVTUSFTFUUIF DVSSFOUESBHPQFSBUJPO Q UPOPOF

    
    0UIFSXJTF JGUIF ESBHPWFS Q FWFOU 8B DBODFMFE
    UIF DVSSFOUESBHPQFSBUJPO Q NVTUCFTFUCBTFE
    POUIFWBMVFTUIF FGGFDU"MMPXFE Q BOE ESPQ&GGFDU Q BUUSJCVUFTPGUIF EBUB5SBOTGFS Q PCKFDU
    IBEBGUFSUIFFWFOUXBTIBOEMFE BTQFSUIFGPMMPXJOHUBCMF

    @AA@>OGGJR@? K ?MJK#AA@>O K L;AIJ?L;NCIH

    VOJOJUJBMJ[FE DPQZ DPQZ-JOL DPQZ.PWF PS BMM DPQZ DPQZ


    VOJOJUJBMJ[FE MJOL DPQZ-JOL MJOL.PWF PS BMM MJOL MJOL
    VOJOJUJBMJ[FE NPWF DPQZ.PWF MJOL.PWF PS BMM NPWF NPWF
    "OZPUIFSDBTF OPOF

    5IFO SFHBSEMFTTPGXIFUIFSUIF ESBHPWFS Q FWFOUXBTDBODFMFEPSOPU UIFESBHGFFECBDL FH


    UIFNPVTFDVSTPS
    NVTUCFVQEBUFEUPNBUDIUIF DVSSFOUESBHPQFSBUJPO Q BTGPMMPXT

    L;AIJ?L;NCIH "??><;=E

    DPQZ %BUBXJMMCFDPQJFEJGESPQQFEIFSF
    MJOL %BUBXJMMCFMJOLFEJGESPQQFEIFSF
    NPWF %BUBXJMMCFNPWFEJGESPQQFEIFSF
    OPOF /PPQFSBUJPOBMMPXFE ESPQQJOHIFSFXJMMDBODFMUIFESBHBOEESPQPQFSBUJPO

     0UIFSXJTF JGUIF DVSSFOUUBSHFUFMFNFOU Q JTOPUB%0.FMFNFOU UIFVTFSBHFOUNVTUVTF


    QMBUGPSNTQFDJИDNFDIBOJTNTUPEFUFSNJOFXIBUESBHPQFSBUJPOJTCFJOHQFSGPSNFE OPOF DPQZ
    MJOL PSNPWF
    5IJTTFUTUIF 2DAA4=C3A06>?4A0C8>=

     0UIFSXJTF JGUIFVTFSFOEFEUIFESBHBOEESPQPQFSBUJPO FHCZSFMFBTJOHUIFNPVTFCVUUPOJOBNPVTF


    ESJWFOESBHBOEESPQJOUFSGBDF
    PSJGUIF ESBH Q FWFOUXBTDBODFMFE UIFOUIJTXJMMCFUIFMBTUJUFSBUJPO5IF
    VTFSBHFOUNVTUFYFDVUFUIFGPMMPXJOHTUFQT UIFOTUPQMPPQJOH

     *GUIF DVSSFOUESBHPQFSBUJPO Q JTOPOF OPESBHPQFSBUJPO


    PS JGUIFVTFSFOEFEUIFESBHBOE
    ESPQPQFSBUJPOCZDBODFMJOHJU FHCZIJUUJOHUIF &TDBQF LFZ
    PSJGUIF DVSSFOUUBSHFUFMFNFOU Q
    JTOVMM UIFOUIFESBHPQFSBUJPOGBJMFE*GUIF DVSSFOUUBSHFUFMFNFOU Q JTB%0.FMFNFOU UIFVTFS
    BHFOUNVTUИSFB ESBHMFBWF Q FWFOUBUJUPUIFSXJTF JGJUJTOPUOVMM JUNVTUVTFQMBUGPSNTQFDJИD
    DPOWFOUJPOTGPSESBHDBODFMMBUJPO

     0UIFSXJTF UIFESBHPQFSBUJPOXBTBTTVDDFTT*GUIF DVSSFOUUBSHFUFMFNFOU Q JTB%0.FMFNFOU


    UIFVTFSBHFOUNVTUИSFB ESPQ Q FWFOUBUJUPUIFSXJTF JUNVTUVTFQMBUGPSNTQFDJИDDPOWFOUJPOT
    GPSJOEJDBUJOHBESPQ

    8IFOUIFUBSHFUJTB%0.FMFNFOU UIF ESPQ&GGFDU Q BUUSJCVUFPGUIFFWFOUT EBUB5SBOTGFS Q


    PCKFDUNVTUCFHJWFOUIFWBMVFSFQSFTFOUJOHUIF DVSSFOUESBHPQFSBUJPO Q DPQZ MJOL PS NPWF

    BOEUIFPCKFDUNVTUCFTFUVQTPUIBUUIF HFU%BUB
    Q NFUIPEXJMMSFUVSOUIFEBUBUIBUXBT
    BEEFEEVSJOHUIF ESBHTUBSU Q FWFOU BOEUIF GJMFT Q BUUSJCVUFXJMMSFUVSOB 'JMF-JTU PCKFDU
    XJUIBOZИMFTUIBUXFSFESBHHFE

    *GUIFFWFOUJTDBODFMFE UIF DVSSFOUESBHPQFSBUJPO Q NVTUCFTFUUPUIFWBMVFPGUIF


    ESPQ&GGFDU Q BUUSJCVUFPGUIFFWFOUT EBUB5SBOTGFS Q PCKFDUBTJUTUPPEBGUFSUIFFWFOUXBT
    IBOEMFE

    0UIFSXJTF UIFFWFOUJTOPUDBODFMFE BOEUIFVTFSBHFOUNVTUQFSGPSNUIFFWFOUTEFGBVMUBDUJPO


    XIJDIEFQFOETPOUIFFYBDUUBSHFUBTGPMMPXT
    J
    X %@NB? =OLL?HNN;LA?N?F?G?HN CM;N?RN]?F>? A O@SO<M@< K
    IL;H DIKPO K
    K
    ?F?G?HNQBIM? OTK@ ;NNLC<ON?CMCHNB? 0?RN J MN;N?IL;H ?>CN;<F? J ?F?G?HN
    5IFVTFSBHFOUNVTUJOTFSUUIFEBUBBTTPDJBUFEXJUIUIF UFYUQMBJO GPSNBU JGBOZ JOUP
    UIFUFYUИFMEPS FEJUBCMF Q FMFNFOUJOBNBOOFSDPOTJTUFOUXJUIQMBUGPSNTQFDJИD
    DPOWFOUJPOT FHJOTFSUJOHJUBUUIFDVSSFOUNPVTFDVSTPSQPTJUJPO PSJOTFSUJOHJUBUUIF
    FOEPGUIFИFME
    

    X +NB?LQCM?
    3FTFUUIF DVSSFOUESBHPQFSBUJPO Q UPOPOF

     'JOBMMZ UIFVTFSBHFOUNVTUИSFB ESBHFOE Q FWFOUBUUIF TPVSDFOPEF Q XJUIUIF


    ESPQ&GGFDU Q BUUSJCVUFPGUIFFWFOUT EBUB5SBOTGFS Q PCKFDUCFJOHTFUUPUIFWBMVF
    DPSSFTQPOEJOHUPUIF DVSSFOUESBHPQFSBUJPO Q 

    
    *HM> 0A> <NKK>GM=K:@HI>K:MBHG I <:G<A:G@>=NKBG@MA>IKH<>LLBG@H?MA>
    =KHI I >O>GM B?HG>P:L[K>=

    5IFFWFOUJTOPUDBODFMBCMF"GUFSUIFFWFOUIBTCFFOIBOEMFE UIFVTFSBHFOUNVTUBDUBTGPMMPXT
    J
    X %@NB? =OLL?HNN;LA?N?F?G?HN CM;N?RN]?F>? A O@SO<M@< K
    IL;H DIKPO K
    K
    ?F?G?HNQBIM? OTK@ ;NNLC<ON?CMCHNB? 0?RN J MN;N?
    ;H>; ?MJK K ?P?HNQ;M
    ]L?>CHNB?JL?PCIOMMN?J
    ;H>NB? =OLL?HN>L;AIJ?L;NCIH J CMGIP?
    ;H>NB?
    MIOL=?I@NB?>L;A ;H> >LIJIJ?L;NCIHCM;M?F?=NCIHCHNB? +)
    5IFVTFSBHFOUTIPVMEEFMFUFUIFSBOHFSFQSFTFOUJOHUIFESBHHFETFMFDUJPOGSPNUIF
    %0.
    J
    X %@NB? =OLL?HNN;LA?N?F?G?HN CM;N?RN]?F>? A O@SO<M@< K
    IL;H DIKPO K
    ?F?G?HNQBIM? OTK@ K ;NNLC<ON?CMCHNB? 0?RN J MN;N?
    ;H>; ?MJK K ?P?HNQ;M
    ]L?>CHNB?JL?PCIOMMN?J
    ;H>NB? =OLL?HN>L;AIJ?L;NCIH J CMGIP?
    ;H>NB?
    MIOL=?I@NB?>L;A ;H> >LIJIJ?L;NCIHCM;M?F?=NCIHCH;N?RN]?F>
    5IFVTFSBHFOUTIPVMEEFMFUFUIFESBHHFETFMFDUJPOGSPNUIFSFMFWBOUUFYUИFME

    X +NB?LQCM?
    5IFFWFOUIBTOPEFGBVMUBDUJPO

        3B?HNB?>L;A ;H> >LIJIJ?L;NCIHMN;LNMIL?H>MCH;HINB?L>I=OG?HN

    5IFNPEFMEFTDSJCFEBCPWFJTJOEFQFOEFOUPGXIJDI %PDVNFOU Q PCKFDUUIFOPEFTJOWPMWFEBSFGSPNUIFFWFOUTNVTU


    CFИSFEBTEFTDSJCFEBCPWFBOEUIFSFTUPGUIFQSPDFTTJOHNPEFMNVTUCFGPMMPXFEBTEFTDSJCFEBCPWF JSSFTQFDUJWFPG
    IPXNBOZEPDVNFOUTBSFJOWPMWFEJOUIFPQFSBUJPO

        3B?HNB?>L;A ;H> >LIJIJ?L;NCIHMN;LNMIL?H>MCH;HINB?L;JJFC=;NCIH

    *GUIFESBHJTJOJUJBUFEJOBOPUIFSBQQMJDBUJPO UIF TPVSDFOPEF Q JTOPUB%0.OPEF BOEUIFVTFSBHFOUNVTUVTF


    QMBUGPSNTQFDJИDDPOWFOUJPOTJOTUFBEXIFOUIFSFRVJSFNFOUTBCPWFJOWPMWFUIFTPVSDFOPEF6TFSBHFOUTJOUIJT
    TJUVBUJPONVTUBDUBTJGUIFESBHHFEEBUBIBECFFOBEEFEUPUIF %BUB5SBOTGFS Q PCKFDUXIFOUIFESBHTUBSUFE FWFO
    UIPVHIOP ESBHTUBSU Q FWFOUXBTBDUVBMMZИSFEVTFSBHFOUTNVTUTJNJMBSMZVTFQMBUGPSNTQFDJИDDPOWFOUJPOTXIFO
    EFDJEJOHPOXIBUESBHGFFECBDLUPVTF

    "MMUIFGPSNBUTUSJOHTNVTUCF DPOWFSUFEUP"4$**MPXFSDBTF Q *GUIFQMBUGPSNDPOWFOUJPOTEPOPUVTF .*.&UZQFT Q UP


    MBCFMUIFESBHHFEEBUB UIFVTFSBHFOUNVTUNBQUIFUZQFTUP.*.&UZQFTИSTU

    *GBESBHJTTUBSUFEJOBEPDVNFOUCVUFOETJOBOPUIFSBQQMJDBUJPO UIFOUIFVTFSBHFOUNVTUJOTUFBESFQMBDFUIFQBSUT
    PGUIFQSPDFTTJOHNPEFMSFMBUJOHUPIBOEMJOHUIF C0A64C BDDPSEJOHUPQMBUGPSNTQFDJИDDPOWFOUJPOT

    *OBOZDBTF TDSJQUTSVOOJOHJOUIFDPOUFYUPGUIFEPDVNFOUNVTUOPUCFBCMFUPEJTUJOHVJTIUIFDBTFPGBESBHBOEESPQ
    PQFSBUJPOCFJOHTUBSUFEPSFOEFEJOBOPUIFSBQQMJDBUJPOGSPNUIFDBTFPGBESBHBOEESPQPQFSBUJPOCFJOHTUBSUFEPS
    FOEFEJOBOPUIFSEPDVNFOUGSPNBOPUIFSEPNBJO

       0B? ?M<BB<=G@ ;NNLC<ON?

    "MM )5.-FMFNFOUT Q NBZIBWFUIF ESBHHBCMF Q DPOUFOUBUUSJCVUFTFU5IF ESBHHBCMF Q BUUSJCVUFJTBO FOVNFSBUFE
    BUUSJCVUF Q *UIBTUISFFTUBUFT5IFИSTUTUBUFJT CAD4 BOEJUIBTUIFLFZXPSE USVF5IFTFDPOETUBUFJT 50;B4 BOEJUIBT
    UIFLFZXPSE GBMTF5IFUIJSETUBUFJT 0DC>JUIBTOPLFZXPSETCVUJUJTUIF <8BB8=6E0;D43450D;C

    5IF CAD4 TUBUFNFBOTUIFFMFNFOUJTESBHHBCMFUIF 50;B4 TUBUFNFBOTUIBUJUJTOPU5IF 0DC> TUBUFVTFTUIFEFGBVMU


    CFIBWJPSPGUIFVTFSBHFOU

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >E>F>GM ?M<BB<=G@ 7 O:EN> 8
    3FUVSOTUSVFJGUIFFMFNFOUJTESBHHBCMFPUIFSXJTF SFUVSOTGBMTF
    $BOCFTFU UPPWFSSJEFUIFEFGBVMUBOETFUUIF ESBHHBCMF Q DPOUFOUBUUSJCVUF

    
    5IF ?M<BB<=G@ *%-BUUSJCVUF XIPTFWBMVFEFQFOETPOUIFDPOUFOUBUUSJCVUFTJOUIFXBZEFTDSJCFECFMPX DPOUSPMT
    XIFUIFSPSOPUUIFFMFNFOUJTESBHHBCMF(FOFSBMMZ POMZUFYUTFMFDUJPOTBSFESBHHBCMF CVUFMFNFOUTXIPTF
    ESBHHBCMF Q *%-BUUSJCVUFJTUSVFCFDPNFESBHHBCMFBTXFMM

    *GBOFMFNFOUT ESBHHBCMF Q DPOUFOUBUUSJCVUFIBTUIFTUBUF CAD4 UIF ESBHHBCMF Q *%-BUUSJCVUFNVTUSFUVSOUSVF

    0UIFSXJTF JGUIFFMFNFOUT ESBHHBCMF Q DPOUFOUBUUSJCVUFIBTUIFTUBUF 50;B4 UIF ESBHHBCMF Q *%-BUUSJCVUFNVTU
    SFUVSOGBMTF

    0UIFSXJTF UIFFMFNFOUT ESBHHBCMF Q DPOUFOUBUUSJCVUFIBTUIFTUBUF 0DC>*GUIFFMFNFOUJTBO JNH Q FMFNFOU PS JG
    UIFFMFNFOUJTBO B Q FMFNFOUXJUIBO ISFG Q DPOUFOUBUUSJCVUF UIF ESBHHBCMF Q *%-BUUSJCVUFNVTUSFUVSOUSVF

    0UIFSXJTF UIF ESBHHBCMF Q %0.NVTUSFUVSOGBMTF

    *GUIF ESBHHBCMF Q *%-BUUSJCVUFJTTFUUPUIFWBMVFGBMTF UIF ESBHHBCMF Q DPOUFOUBUUSJCVUFNVTUCFTFUUPUIFMJUFSBM


    WBMVF GBMTF*GUIF ESBHHBCMF Q *%-BUUSJCVUFJTTFUUPUIFWBMVFUSVF UIF ESBHHBCMF Q DPOUFOUBUUSJCVUFNVTUCFTFU
    UPUIFMJUFSBMWBMVF USVF

       /?=OLCNSLCMEMCHNB?>L;A ;H> >LIJGI>?F

    6TFSBHFOUTNVTUOPUNBLFUIFEBUBBEEFEUPUIF %BUB5SBOTGFS Q PCKFDUEVSJOHUIF ESBHTUBSU Q FWFOUBWBJMBCMFUP


    TDSJQUTVOUJMUIF ESPQ Q FWFOU CFDBVTFPUIFSXJTF JGBVTFSXFSFUPESBHTFOTJUJWFJOGPSNBUJPOGSPNPOFEPDVNFOUUP
    BTFDPOEEPDVNFOU DSPTTJOHBIPTUJMFUIJSEEPDVNFOUJOUIFQSPDFTT UIFIPTUJMFEPDVNFOUDPVMEJOUFSDFQUUIFEBUB

    'PSUIFTBNFSFBTPO VTFSBHFOUTNVTUDPOTJEFSBESPQUPCFTVDDFTTGVMPOMZJGUIFVTFSTQFDJИDBMMZFOEFEUIFESBH
    PQFSBUJPOǡJGBOZTDSJQUTFOEUIFESBHPQFSBUJPO JUNVTUCFDPOTJEFSFEVOTVDDFTTGVM DBODFMFE
    BOEUIF ESPQ Q
    FWFOUNVTUOPUCFИSFE

    6TFSBHFOUTTIPVMEUBLFDBSFUPOPUTUBSUESBHBOEESPQPQFSBUJPOTJOSFTQPOTFUPTDSJQUBDUJPOT'PSFYBNQMF JOB
    NPVTFBOEXJOEPXFOWJSPONFOU JGBTDSJQUNPWFTBXJOEPXXIJMFUIFVTFSIBTIJTNPVTFCVUUPOEFQSFTTFE UIF6"
    XPVMEOPUDPOTJEFSUIBUUPTUBSUBESBH5IJTJTJNQPSUBOUCFDBVTFPUIFSXJTF6"TDPVMEDBVTFEBUBUPCFESBHHFEGSPN
    TFOTJUJWFTPVSDFTBOEESPQQFEJOUPIPTUJMFEPDVNFOUTXJUIPVUUIFVTFSTDPOTFOU

      1H>IBCMNILS

       ?]HCNCIHM

    5IFVTFSBHFOUNVTUBTTPDJBUFBO OH>INL;HM;=NCIHBCMNILS XJUIFBDI )5.-%PDVNFOU Q PCKFDU

    5IF VOEPUSBOTBDUJPOIJTUPSZ Q JTBMJTUPGFOUSJFT5IFFOUSJFTBSFPGUXPUZQFT %0.DIBOHFT Q BOE VOEP


    PCKFDUT Q 

    &BDI +)=B;HA?M FOUSZJOUIF VOEPUSBOTBDUJPOIJTUPSZ Q DPOTJTUTPGCBUDIFTPGPOFPSNPSFPGUIFGPMMPXJOH

    Ǭ $IBOHFTUPUIFDPOUFOUBUUSJCVUFTPGBO &MFNFOU Q OPEF

    Ǭ $IBOHFTUPUIF%0.IJFSBSDIZPGOPEFTUIBUBSFEFTDFOEBOUTPGUIF )5.-%PDVNFOU Q PCKFDU QBSFOU/PEF Q


    DIJME/PEFT Q
    

    Ǭ $IBOHFTUPJOUFSOBMTUBUF TVDIBTBGPSNDPOUSPMT WBMVF Q PS EJSUZDIFDLFEOFTTЙBH Q 

    1H>II<D?=N FOUSJFTDPOTJTUPGPCKFDUTSFQSFTFOUJOHTUBUFUIBUTDSJQUTSVOOJOHJOUIFEPDVNFOUBSFNBOBHJOH'PS
    FYBNQMF B8FCNBJMBQQMJDBUJPODPVMEVTFBO VOEPPCKFDU Q UPLFFQUSBDLPGUIFGBDUUIBUBVTFSIBTNPWFEBOF
    NBJMUPBQBSUJDVMBSGPMEFS TPUIBUUIFVTFSDBOVOEPUIFBDUJPOBOEIBWFUIFFNBJMSFUVSOUPJUTGPSNFSMPDBUJPO

    #SPBEMZTQFBLJOH %0.DIBOHFT Q FOUSJFTBSFIBOEMFECZUIF6"JOSFTQPOTFUPVTFSFEJUTPGGPSNDPOUSPMTBOE


    FEJUJOHIPTUT Q POUIFQBHF BOE VOEPPCKFDU Q FOUSJFTBSFIBOEMFECZTDSJQUJOSFTQPOTFUPIJHIFSMFWFMVTFSBDUJPOT
    TVDIBTJOUFSBDUJPOTXJUITFSWFSTJEFTUBUF PSJOUIFJNQMFNFOUBUJPOPGBESBXJOHUPPM
    

       0B? 3I?J+<I<B@M K CHN?L@;=?

    5PNBOBHF VOEPPCKFDU Q FOUSJFTJOUIF VOEPUSBOTBDUJPOIJTUPSZ Q UIF 6OEP.BOBHFS Q JOUFSGBDFDBOCFVTFE

    JOUFSGBDF 3I?J+<I<B@M \
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH MFOHUI
    HFUUFSBOZ JUFN JOVOTJHOFEMPOHJOEFY
    

    
    SFBEPOMZBUUSJCVUFVOTJHOFEMPOH QPTJUJPO
    VOTJHOFEMPOH BEE JOBOZEBUB JO%0.4USJOHUJUMF
    
    WPJE SFNPWF JOVOTJHOFEMPOHJOEFY
    
    WPJE DMFBS6OEP
    
    WPJE DMFBS3FEP
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    PBG=HP PI?J+<I<B@M
    3FUVSOTUIF 6OEP.BOBHFS Q PCKFDU

    NG=H):G:@>K G@IBOC K


    3FUVSOTUIFOVNCFSPGFOUSJFTJOUIFVOEPIJTUPSZ

    =:M:  NG=H):G:@>K DO@H K BG=>Q


    NG=H):G:@>K7BG=>Q8
    3FUVSOTUIFFOUSZXJUIJOEFY 8=34G JOUIFVOEPIJTUPSZ
    3FUVSOTOVMMJG 8=34G JTPVUPGSBOHF

    NG=H):G:@>K KJNDODJI K


    3FUVSOTUIFOVNCFSPGUIFDVSSFOUFOUSZJOUIFVOEPIJTUPSZ &OUSJFTBUBOEQBTUUIJTQPJOUBSF A43>
    FOUSJFT

    NG=H):G:@>K <?? K =:M:


    MBME>
    "EETUIFTQFDJИFEFOUSZUPUIFVOEPIJTUPSZ

    NG=H):G:@>K M@HJQ@ K BG=>Q


    3FNPWFTUIFTQFDJИFEFOUSZUPUIFVOEPIJTUPSZ
    5ISPXTBO */%&9@4*;&@&33 Q FYDFQUJPOJGUIFHJWFOJOEFYJTPVUPGSBOHF

    NG=H):G:@>K >G@<M3I?J K 


    3FNPWFTBMMFOUSJFTCFGPSFUIFDVSSFOUQPTJUJPOJOUIFVOEPIJTUPSZ

    NG=H):G:@>K >G@<M0@?J K 


    3FNPWFTBMMFOUSJFTBUBOEBGUFSUIFDVSSFOUQPTJUJPOJOUIFVOEPIJTUPSZ

    5IF PI?J+<I<B@M BUUSJCVUFPGUIF 8JOEPX Q JOUFSGBDFNVTUSFUVSOUIFPCKFDUJNQMFNFOUJOHUIF 6OEP.BOBHFS Q


    JOUFSGBDFGPSUIBU 8JOEPX Q PCKFDUTBTTPDJBUFE )5.-%PDVNFOU Q PCKFDU

    6OEP.BOBHFS Q PCKFDUTSFQSFTFOUUIFJSEPDVNFOUT VOEPUSBOTBDUJPOIJTUPSZ Q 0OMZ VOEPPCKFDU Q FOUSJFTBSF


    WJTJCMFXJUIUIJT"1* CVUUIJTEPFTOPUNFBOUIBU %0.DIBOHFT Q FOUSJFTBSFBCTFOUGSPNUIF VOEPUSBOTBDUJPO
    IJTUPSZ Q 

    5IF G@IBOC BUUSJCVUFNVTUSFUVSOUIFOVNCFSPG VOEPPCKFDU Q FOUSJFTJOUIF VOEPUSBOTBDUJPOIJTUPSZ Q 5IJTJTUIF


    ;4=6C7 ? 

    5IFPCKFDUT JOEJDFTPGUIFTVQQPSUFEJOEFYFEQSPQFSUJFT BSFUIFOVNCFSTJOUIFSBOHF[FSPUP ;4=6C7 ?  VOMFTTUIF


    ;4=6C7 ? JT[FSP JOXIJDIDBTFUIFSFBSFOP TVQQPSUFEJOEFYFEQSPQFSUJFT

    5IF DO@HG NFUIPENVTUSFUVSOUIF =UI VOEPPCKFDU Q FOUSZJOUIF VOEPUSBOTBDUJPOIJTUPSZ Q JGUIFSFJTPOF PS
    OVMMPUIFSXJTF

    5IF VOEPUSBOTBDUJPOIJTUPSZ Q IBTB =OLL?HNJIMCNCIH5IJTJTUIFQPTJUJPOCFUXFFOUXPFOUSJFTJOUIF VOEP


    USBOTBDUJPOIJTUPSZ Q TMJTUXIFSFUIFQSFWJPVTFOUSZSFQSFTFOUTXIBUOFFETUPIBQQFOJGUIFVTFSJOWPLFTUIFVOEP
    DPNNBOE UIFVOEPTJEF MPXFSOVNCFST
    BOEUIFOFYUFOUSZSFQSFTFOUTXIBUOFFETUPIBQQFOJGUIFVTFSJOWPLFT
    UIFSFEPDPNNBOE UIFSFEPTJEF IJHIFSOVNCFST
    

    5IF KJNDODJI BUUSJCVUFNVTUSFUVSOUIFJOEFYPGUIF VOEPPCKFDU Q FOUSZOFBSFTUUPUIF VOEPQPTJUJPO Q POUIF


    SFEPTJEF*GUIFSFBSFOP VOEPPCKFDU Q FOUSJFTPOUIFSFEPTJEF UIFOUIFBUUSJCVUFNVTUSFUVSOUIFTBNFBTUIF
    MFOHUI Q BUUSJCVUF*GUIFSFBSFOP VOEPPCKFDU Q FOUSJFTPOUIFVOEPTJEFPGUIF VOEPQPTJUJPO Q UIF
    QPTJUJPO Q BUUSJCVUFSFUVSOT[FSP

    
    *HM> /BG<>MA> NG=HMK:GL:<MBHGABLMHKR I <HGM:BGL;HMA NG=HH;C><M I >GMKB>L:G= +)
    <A:G@>L I >GMKB>L ;NMMA> IHLBMBHG I :MMKB;NM>HGERK>MNKGLBG=B<>LK>E:MBO>MH NG=HH;C><M I
    >GMKB>L BMBLIHLLB;E>?HKL>O>K:ENG=HHKK>=H:<MBHGLMH;>I>K?HKF>=PBMAHNMMA>O:EN>H?
    MA> IHLBMBHG I :MMKB;NM><A:G@BG@

    5IF <??=:M: MBME> NFUIPETCFIBWJPSEFQFOETPOUIFDVSSFOUTUBUF/PSNBMMZ JUNVTUJOTFSUUIF 30C0 PCKFDU


    QBTTFEBTBOBSHVNFOUJOUPUIF VOEPUSBOTBDUJPOIJTUPSZ Q JNNFEJBUFMZCFGPSFUIF VOEPQPTJUJPO Q PQUJPOBMMZ
    SFNFNCFSJOHUIFHJWFO C8C;4 UPVTFJOUIF6**GUIFNFUIPEJTDBMMFE EVSJOHBOVOEPPQFSBUJPO Q IPXFWFS UIFPCKFDU
    NVTUJOTUFBECFBEEFEJNNFEJBUFMZ 05C4A UIF VOEPQPTJUJPO Q 

    *GUIFNFUIPEJTDBMMFEBOEUIFSFJTOFJUIFS BOVOEPPQFSBUJPOJOQSPHSFTT Q OPS BSFEPPQFSBUJPOJOQSPHSFTT Q UIFO


    BOZFOUSJFTJOUIF VOEPUSBOTBDUJPOIJTUPSZ Q BGUFSUIF VOEPQPTJUJPO Q NVTUCFSFNPWFE BTJG DMFBS3FEP
    Q IBE
    CFFODBMMFE
    

    5IF M@HJQ@BG=>Q NFUIPENVTUSFNPWFUIF VOEPPCKFDU Q FOUSZXJUIUIFTQFDJИFE 8=34G*GUIFJOEFYJTMFTTUIBO


    [FSPPSHSFBUFSUIBOPSFRVBMUP MFOHUI Q UIFOUIFNFUIPENVTUSBJTFBO */%&9@4*;&@&33 Q FYDFQUJPO %0.
    DIBOHFT Q FOUSJFTBSFVOBЗFDUFECZUIJTNFUIPE

    5IF >G@<M3I?J NFUIPENVTUSFNPWFBMMFOUSJFTJOUIF VOEPUSBOTBDUJPOIJTUPSZ Q CFGPSFUIF VOEPQPTJUJPO Q CF


    UIFZ %0.DIBOHFT Q FOUSJFTPS VOEPPCKFDU Q FOUSJFT

    5IF >G@<M0@?J NFUIPENVTUSFNPWFBMMFOUSJFTJOUIF VOEPUSBOTBDUJPOIJTUPSZ Q BGUFSUIF VOEPQPTJUJPO Q CF


    UIFZ %0.DIBOHFT Q FOUSJFTPS VOEPPCKFDU Q FOUSJFT

       1H>IGIPCHA<;=ECHNB?OH>INL;HM;=NCIHBCMNILS

    8IFOUIFVTFSJOWPLFTBOVOEPPQFSBUJPO PSXIFOUIF FYFD$PNNBOE


    Q NFUIPEJTDBMMFEXJUIUIF VOEP Q
    DPNNBOE UIFVTFSBHFOUNVTUQFSGPSNBOVOEPPQFSBUJPO

    *GUIF VOEPQPTJUJPO Q JTBUUIFTUBSUPGUIF VOEPUSBOTBDUJPOIJTUPSZ Q UIFOUIFVTFSBHFOUNVTUEPOPUIJOH

    *GUIFFOUSZJNNFEJBUFMZCFGPSFUIF VOEPQPTJUJPO Q JTB %0.DIBOHFT Q FOUSZ UIFOUIFVTFSBHFOUNVTUSFNPWF


    UIBU %0.DIBOHFT Q FOUSZ SFWFSTFUIF%0.DIBOHFTUIBUXFSFMJTUFEJOUIBUFOUSZ BOE JGUIFDIBOHFTXFSF
    SFWFSTFEXJUIOPQSPCMFNT BEEBOFX %0.DIBOHFT Q FOUSZ DPOTJTUJOHPGUIFPQQPTJUFPGUIPTF%0.DIBOHFT
    UP
    UIF VOEPUSBOTBDUJPOIJTUPSZ Q POUIFPUIFSTJEFPGUIF VOEPQPTJUJPO Q 

    *GUIF%0.DIBOHFTDBOOPUCFVOEPOF FHCFDBVTFUIF%0.TUBUFJTOPMPOHFSDPOTJTUFOUXJUIUIFDIBOHFT
    SFQSFTFOUFEJOUIFFOUSZ
    UIFOUIFVTFSBHFOUNVTUTJNQMZSFNPWFUIF %0.DIBOHFT Q FOUSZ XJUIPVUEPJOHBOZUIJOH
    FMTF

    *GUIFFOUSZJNNFEJBUFMZCFGPSFUIF VOEPQPTJUJPO Q JTBO VOEPPCKFDU Q FOUSZ UIFOUIFVTFSBHFOUNVTUИSTUSFNPWF


    UIBU VOEPPCKFDU Q FOUSZGSPNUIF VOEPUSBOTBDUJPOIJTUPSZ Q BOEUIFONVTUИSFBO VOEP Q FWFOUBUUIF 8JOEPX Q
    PCKFDU VTJOHUIF VOEPPCKFDU Q FOUSZTBTTPDJBUFEVOEPPCKFDUBTUIFFWFOUTEBUB

    "OZDBMMTUP BEE
    Q XIJMFUIFFWFOUJTCFJOHIBOEMFEXJMMCFVTFEUPQPQVMBUFUIFSFEPIJTUPSZ BOEXJMMUIFOCFVTFE
    JGUIFVTFSJOWPLFTUIFSFEPDPNNBOEUPVOEPIJTVOEP

       .?>IGIPCHA@ILQ;L>CHNB?OH>INL;HM;=NCIHBCMNILS

    8IFOUIFVTFSJOWPLFTBSFEPPQFSBUJPO PSXIFOUIF FYFD$PNNBOE


    Q NFUIPEJTDBMMFEXJUIUIF SFEP Q DPNNBOE
    UIFVTFSBHFOUNVTUQFSGPSNBSFEPPQFSBUJPO

    5IJTJTNPTUMZUIFPQQPTJUFPGBO VOEPPQFSBUJPO Q CVUUIFGVMMEFИOJUJPOJTJODMVEFEIFSFGPSDPNQMFUFOFTT

    *GUIF VOEPQPTJUJPO Q JTBUUIFFOEPGUIF VOEPUSBOTBDUJPOIJTUPSZ Q UIFOUIFVTFSBHFOUNVTUEPOPUIJOH

    *GUIFFOUSZJNNFEJBUFMZBGUFSUIF VOEPQPTJUJPO Q JTB %0.DIBOHFT Q FOUSZ UIFOUIFVTFSBHFOUNVTUSFNPWFUIBU


    %0.DIBOHFT Q FOUSZ SFWFSTFUIF%0.DIBOHFTUIBUXFSFMJTUFEJOUIBUFOUSZ BOE JGUIFDIBOHFTXFSFSFWFSTFE
    XJUIOPQSPCMFNT BEEBOFX %0.DIBOHFT Q FOUSZ DPOTJTUJOHPGUIFPQQPTJUFPGUIPTF%0.DIBOHFT
    UPUIF VOEP
    USBOTBDUJPOIJTUPSZ Q POUIFPUIFSTJEFPGUIF VOEPQPTJUJPO Q 

    *GUIF%0.DIBOHFTDBOOPUCFSFEPOF FHCFDBVTFUIF%0.TUBUFJTOPMPOHFSDPOTJTUFOUXJUIUIFDIBOHFT
    SFQSFTFOUFEJOUIFFOUSZ
    UIFOUIFVTFSBHFOUNVTUTJNQMZSFNPWFUIF %0.DIBOHFT Q FOUSZ XJUIPVUEPJOHBOZUIJOH
    FMTF

    
    *GUIFFOUSZJNNFEJBUFMZBGUFSUIF VOEPQPTJUJPO Q JTBO VOEPPCKFDU Q FOUSZ UIFOUIFVTFSBHFOUNVTUИSTUSFNPWF
    UIBU VOEPPCKFDU Q FOUSZGSPNUIF VOEPUSBOTBDUJPOIJTUPSZ Q BOEUIFONVTUИSFB SFEP Q FWFOUBUUIF 8JOEPX Q
    PCKFDU VTJOHUIF VOEPPCKFDU Q FOUSZTBTTPDJBUFEVOEPPCKFDUBTUIFFWFOUTEBUB

       0B? 3I?J+<I<B@M#Q@IO K CHN?L@;=?;H>NB? PI?J K ;H> M@?J K ?P?HNM

    JOUFSGBDF 3I?J+<I<B@M#Q@IO  &WFOU \


    SFBEPOMZBUUSJCVUFBOZ EBUB
    WPJE JOJU6OEP.BOBHFS&WFOU JO%0.4USJOHUZQF"SH JOCPPMFBODBO#VCCMF"SH JOCPPMFBO
    DBODFMBCMF"SH JOBOZEBUB"SH
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    >O>GM ?<O< K
    3FUVSOTUIFEBUBUIBUXBTQBTTFEUPUIF BEE
    Q NFUIPE

    5IF DIDO3I?J+<I<B@M#Q@IO NFUIPENVTUJOJUJBMJ[FUIFFWFOUJOBNBOOFSBOBMPHPVTUPUIFTJNJMBSMZOBNFENFUIPE


    JOUIF%0.&WFOUTJOUFSGBDFT <%0.&7&/54> Q

    5IF ?<O< BUUSJCVUFSFQSFTFOUTUIF VOEPPCKFDU Q GPSUIFFWFOU

    5IF PI?J BOE M@?J FWFOUTEPOPUCVCCMF DBOOPUCFDBODFMFE BOEIBWFOPEFGBVMUBDUJPO8IFOUIFVTFSBHFOUИSFT


    POFPGUIFTFFWFOUTJUNVTUVTFUIF 6OEP.BOBHFS&WFOU Q JOUFSGBDF XJUIUIF EBUB Q ИFMEDPOUBJOJOHUIFSFMFWBOU
    VOEPPCKFDU Q 

       %GJF?G?HN;NCIHHIN?M

    )PXVTFSBHFOUTQSFTFOUUIFBCPWFDPODFQUVBMNPEFMUPUIFVTFSJTOPUEFИOFE5IFVOEPJOUFSGBDFDPVMECFBИMUFSFE
    WJFXPGUIF VOEPUSBOTBDUJPOIJTUPSZ Q JUDPVMENBOJQVMBUFUIF VOEPUSBOTBDUJPOIJTUPSZ Q JOXBZTOPUEFTDSJCFE
    BCPWF BOETPGPSUI'PSFYBNQMF JUJTQPTTJCMFUPEFTJHOB6"UIBUBQQFBSTUPIBWFTFQBSBUF VOEPUSBOTBDUJPO
    IJTUPSJFT Q GPSFBDIGPSNDPOUSPMTJNJMBSMZ JUJTQPTTJCMFUPEFTJHOTZTUFNTXIFSFUIFVTFSIBTBDDFTTUPNPSFVOEP
    JOGPSNBUJPOUIBOJTQSFTFOUJOUIFPКDJBM BTEFTDSJCFEBCPWF
    VOEPUSBOTBDUJPOIJTUPSZ Q TVDIBTQSPWJEJOHBUSFF
    CBTFEBQQSPBDIUPEPDVNFOUTUBUF
    4VDI6*NPEFMTTIPVMECFCBTFEVQPOUIFTJOHMF VOEPUSBOTBDUJPOIJTUPSZ Q
    EFTDSJCFEJOUIJTTFDUJPO IPXFWFS TVDIUIBUUPBTDSJQUUIFSFJTOPEFUFDUBCMFEJЗFSFODF

      !>CNCHA,%M

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    =H<NF>GM @S@>!JHH<I? <HFF:G=%= 7
    LAHP1% 7
    O:EN> 88
    3VOTUIFBDUJPOTQFDJИFECZUIFИSTUBSHVNFOU BTEFTDSJCFEJOUIFMJTUCFMPX5IFTFDPOEBOEUIJSE
    BSHVNFOUTTPNFUJNFTBЗFDUUIFBDUJPO *GUIFZEPOUUIFZBSFJHOPSFE

    =H<NF>GM LP@MT!JHH<I?#I<=G@? K <HFF:G=%=


    3FUVSOTXIFUIFSUIFHJWFODPNNBOEJTFOBCMFE BTEFTDSJCFEJOUIFMJTUCFMPX

    =H<NF>GM LP@MT!JHH<I?'I?@O@MH K <HFF:G=%=


    3FUVSOTXIFUIFSUIFHJWFODPNNBOEJTJOEFUFSNJOBUF BTEFTDSJCFEJOUIFMJTUCFMPX

    =H<NF>GM LP@MT!JHH<I?1O<O@ K <HFF:G=%=


    3FUVSOTUIFTUBUFPGUIFDPNNBOE BTEFTDSJCFEJOUIFMJTUCFMPX

    =H<NF>GM LP@MT!JHH<I?1PKKJMO@? K <HFF:G=%=


    3FUVSOTUSVFJGUIFDPNNBOEJTTVQQPSUFEPUIFSXJTF SFUVSOTGBMTF

    
    =H<NF>GM LP@MT!JHH<I?4<GP@ K <HFF:G=%=
    3FUVSOTUIFWBMVFPGUIFDPNNBOE BTEFTDSJCFEJOUIFMJTUCFMPX

    5IF @S@>!JHH<I?<HFF:G=(= LAHP3( O:EN> NFUIPEPOUIF )5.-%PDVNFOU Q JOUFSGBDFBMMPXTTDSJQUTUPQFSGPSN


    BDUJPOTPOUIF DVSSFOUTFMFDUJPO Q PSBUUIFDVSSFOUDBSFUQPTJUJPO(FOFSBMMZ UIFTFDPNNBOETXPVMECFVTFEUP
    JNQMFNFOUFEJUPS6* GPSFYBNQMFIBWJOHBEFMFUFCVUUPOPOBUPPMCBS

    5IFSFBSFUISFFWBSJBOUTUPUIJTNFUIPE XJUIPOF UXP BOEUISFFBSHVNFOUTSFTQFDUJWFMZ5IF B7>F+ BOE E0;D4


    QBSBNFUFST FWFOJGTQFDJИFE BSFJHOPSFEFYDFQUXIFSFPUIFSXJTFTUBUFE

    8IFO FYFD$PNNBOE
    Q JTJOWPLFE UIFVTFSBHFOUNVTUGPMMPXUIFGPMMPXJOHTUFQT

     *GUIFHJWFO 2><<0=33 NBQTUPBOFOUSZJOUIFMJTUCFMPXXIPTF&OBCMFE8IFOFOUSZIBTBDPOEJUJPOUIBU


    JTDVSSFOUMZGBMTF EPOPUIJOHBCPSUUIFTFTUFQT

     0UIFSXJTF FYFDVUFUIF"DUJPOMJTUFECFMPXGPSUIFHJWFO 2><<0=33

    "EPDVNFOUJT L?;>S@IL?>CNCHABIMN=IGG;H>M JGJUIBTBTFMFDUJPOUIBUJTFOUJSFMZXJUIJOBO FEJUJOHIPTU Q PSJG


    JUIBTOPTFMFDUJPOCVUJUTDBSFUJTJOTJEFBO FEJUJOHIPTU Q 

    5IF LP@MT!JHH<I?#I<=G@?<HFF:G=(= NFUIPE XIFOJOWPLFE NVTUSFUVSOUSVFJGUIFDPOEJUJPOMJTUFECFMPXVOEFS


    &OBCMFE8IFOGPSUIFHJWFO 2><<0=33 JTUSVF BOEGBMTFPUIFSXJTF

    5IF LP@MT!JHH<I?'I?@O@MH<HFF:G=(= NFUIPE XIFOJOWPLFE NVTUSFUVSOUSVFJGUIFDPOEJUJPOMJTUFECFMPXVOEFS


    *OEFUFSNJOBUF8IFOGPSUIFHJWFO 2><<0=33 JTUSVF BOEGBMTFPUIFSXJTF

    5IF LP@MT!JHH<I?1O<O@<HFF:G=(= NFUIPE XIFOJOWPLFE NVTUSFUVSOUIFWBMVFFYQSFTTFECFMPXVOEFS4UBUFGPS


    UIFHJWFO 2><<0=33

    5IF LP@MT!JHH<I?1PKKJMO@?<HFF:G=(= NFUIPE XIFOJOWPLFE NVTUSFUVSOUSVFJGUIFHJWFO 2><<0=33 JTJOUIF


    MJTUCFMPX BOEGBMTFPUIFSXJTF

    5IF LP@MT!JHH<I?4<GP@<HFF:G=(= NFUIPE XIFOJOWPLFE NVTUSFUVSOUIFWBMVFFYQSFTTFECFMPXVOEFS7BMVF


    GPSUIFHJWFO 2><<0=33

    5IFQPTTJCMFWBMVFTGPS 2><<0=33 BOEUIFJSDPSSFTQPOEJOHNFBOJOHT BSFBTGPMMPXT 5IFTFWBMVFTNVTUCF


    DPNQBSFEUPUIFBSHVNFOUJOBO "4$**DBTFJOTFOTJUJWF Q NBOOFS

    ;HE=
    /OGG;LS5PHHMFTXIFUIFSUIFTFMFDUJPOJTCPME
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBESFRVFTUFEUIBUUIFTFMFDUJPO CFXSBQQFEJOUIFTFNBOUJDT Q
    PGUIF  (
    FMFNFOU PS BHBJO VOXSBQQFE PSIBWFUIBUTFNBOUJDJOTFSUFEPSSFNPWFE BTEFИOFECZUIF6"
    
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?5SVFJGUIFTFMFDUJPO PSUIFDBSFU JGUIFSFJTOPTFMFDUJPO JT PSJTDPOUBJOFEXJUIJO B C Q FMFNFOU'BMTF
    PUIFSXJTF
    2;FO?5IFTUSJOHUSVFJGUIFFYQSFTTJPOHJWFOGPSUIF4UBUFBCPWFJTUSVF UIFTUSJOHGBMTFPUIFSXJTF

    <K>:M>*BGD
    /OGG;LS5PHHMFTXIFUIFSUIFTFMFDUJPOJTBMJOLPSOPU*GUIFTFDPOEBSHVNFOUJTUSVF BOEBMJOLJTUPCF
    BEEFE UIFVTFSBHFOUXJMMBTLUIFVTFSGPSUIFBEESFTT0UIFSXJTF UIFUIJSEBSHVNFOUXJMMCFVTFEBTUIF
    BEESFTT
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBESFRVFTUFEUIBUUIFTFMFDUJPO CFXSBQQFEJOUIFTFNBOUJDT Q
    PGUIF  (  FMFNFOU PS BHBJO VOXSBQQFE PSIBWFUIBUTFNBOUJDJOTFSUFEPSSFNPWFE BTEFИOFECZUIF6"
    *G
    UIFVTFSBHFOUDSFBUFTBO B Q FMFNFOUPSNPEJИFTBOFYJTUJOH B Q FMFNFOU UIFOJGUIF B7>F+ BSHVNFOUJT
    QSFTFOUBOEIBTUIFWBMVFGBMTF UIFOUIFWBMVFPGUIF E0;D4 BSHVNFOUNVTUCFVTFEBTUIF 63- Q PGUIFMJOL
    0UIFSXJTF UIFVTFSBHFOUTIPVMEQSPNQUUIFVTFSGPSUIF63-PGUIFMJOL
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    =>E>M>
    /OGG;LS%FMFUFTUIFTFMFDUJPOPSUIFDIBSBDUFSCFGPSFUIFDVSTPS
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBEQFSGPSNFE BCBDLTQBDFPQFSBUJPO Q 
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 

    
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    ?HKF:M!EH<D
    /OGG;LS8SBQTUIFTFMFDUJPOJOUIFFMFNFOUHJWFOCZUIFTFDPOEBSHVNFOU*GUIFTFDPOEBSHVNFOUEPFTOU
    TQFDJGZBOFMFNFOUUIBUJTB AJMH<O GJ>F =;H>C>;N? EPFTOPUIJOH
    =NCIH5IFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     *GUIF E0;D4 BSHVNFOUXBTOUTQFDJИFE BCPSUUIFTFTUFQTXJUIPVUEPJOHBOZUIJOH

     *GUIF E0;D4 BSHVNFOUIBTBMFBEJOH6 $-&445)"/4*(/DIBSBDUFS 


    BOEBUSBJMJOH6 &
    (3&"5&35)"/4*(/DIBSBDUFS 
    UIFOSFNPWFUIFИSTUBOEMBTUDIBSBDUFSTGSPN E0;D4

     *G E0;D4 JT OPX


    BO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFUBHOBNFPGBOFMFNFOUEFИOFECZUIJT
    TQFDJИDBUJPOUIBUJTEFИOFEUPCFB GPSNBU#MPDL DBOEJEBUF Q UIFO GPSFWFSZQPTJUJPOJOUIF
    TFMFDUJPO UBLFUIFOFBSFTU GPSNBU#MPDL DBOEJEBUF Q BODFTUPSFMFNFOUPGUIBUQPTJUJPOUIBUDPOUBJOT
    POMZ QISBTJOHDPOUFOU Q BOE JGUIBUFMFNFOUJT FEJUBCMF Q JTOPUBO FEJUJOHIPTU Q BOEIBTBQBSFOU
    FMFNFOUXIPTFDPOUFOUNPEFMBMMPXTUIBUQBSFOUUPDPOUBJOBOZ ЙPXDPOUFOU Q SFQMBDFJUXJUIBO
    FMFNFOUJOUIF)5.-OBNFTQBDFXIPTFOBNFJT E0;D4 BOENPWFBMMUIFDIJMESFOUIBUXFSFJOJUUPUIF
    OFXFMFNFOU BOEDPQZBMMUIFBUUSJCVUFTUIBUXFSFPOJUUPUIFOFXFMFNFOU

    *GUIFSFJTOPTFMFDUJPO UIFO XIFSFJOUIFEFTDSJQUJPOBCPWFSFGFSTUPUIFTFMFDUJPO UIFVTFSBHFOU


    NVTUBDUBTJGUIFTFMFDUJPOXBTBOFNQUZSBOHF XJUIKVTUPOFQPTJUJPO
    BUUIFDBSFUQPTJUJPO

    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 


    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    ?HKP:K=#>E>M>
    /OGG;LS%FMFUFTUIFTFMFDUJPOPSUIFDIBSBDUFSBGUFSUIFDVSTPS
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBEQFSGPSNFE BGPSXBSEEFMFUFPQFSBUJPO Q 
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    BGL>KM(F:@>
    /OGG;LS5PHHMFTXIFUIFSUIFTFMFDUJPOJTBOJNBHFPSOPU*GUIFTFDPOEBSHVNFOUJTUSVF BOEBOJNBHFJTUP
    CFBEEFE UIFVTFSBHFOUXJMMBTLUIFVTFSGPSUIFBEESFTT0UIFSXJTF UIFUIJSEBSHVNFOUXJMMCFVTFEBTUIF
    BEESFTT
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBESFRVFTUFEUIBUUIFTFMFDUJPO CFXSBQQFEJOUIFTFNBOUJDT Q
    PGUIF "% ( FMFNFOU PS BHBJO VOXSBQQFE PSIBWFUIBUTFNBOUJDJOTFSUFEPSSFNPWFE BTEFИOFECZUIF6"
    
    *GUIFVTFSBHFOUDSFBUFTBO JNH Q FMFNFOUPSNPEJИFTBOFYJTUJOH JNH Q FMFNFOU UIFOJGUIF B7>F+ BSHVNFOU
    JTQSFTFOUBOEIBTUIFWBMVFGBMTF UIFOUIFWBMVFPGUIF E0;D4 BSHVNFOUNVTUCFVTFEBTUIF 63- Q PGUIF
    JNBHF0UIFSXJTF UIFVTFSBHFOUTIPVMEQSPNQUUIFVTFSGPSUIF63-PGUIFJNBHF
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    BGL>KM'2+*
    /OGG;LS3FQMBDFTUIFTFMFDUJPOXJUIUIFWBMVFPGUIFUIJSEBSHVNFOUQBSTFEBT)5.-
    =NCIH5IFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     *GUIFEPDVNFOUJTBO 9.-EPDVNFOU Q UIFOUISPXBO */7"-*%@"$$&44@&33 Q FYDFQUJPOBOEBCPSU


    UIFTFTUFQT

     *GUIF E0;D4 BSHVNFOUXBTOUTQFDJИFE BCPSUUIFTFTUFQTXJUIPVUEPJOHBOZUIJOH

     *GUIFSFJTBTFMFDUJPO BDUBTJGUIFVTFSIBESFRVFTUFEUIBU UIFTFMFDUJPOCFEFMFUFE Q 

     *OWPLFUIF )5.-GSBHNFOUQBSTJOHBMHPSJUIN Q XJUIBOBSCJUSBSZPSQIBO CPEZ Q FMFNFOUPXOFECZ


    UIFTBNF %PDVNFOU Q BTUIF 2>=C4GC ?  FMFNFOUBOEXJUIUIF E0;D4 BSHVNFOUBT 8=?DC ? 

     *OTFSUUIFOPEFTSFUVSOFECZUIFQSFWJPVTTUFQJOUPUIFEPDVNFOUBUUIFMPDBUJPOPGUIFDBSFU ИSJOHBOZ
    NVUBUJPOFWFOUTBTBQQSPQSJBUF

    
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    BGL>KM*BG>!K>:D
    /OGG;LS*OTFSUTBMJOFCSFBL
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBE SFRVFTUFEBMJOFTFQBSBUPS Q 
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    BGL>KM-K=>K>=*BLM
    /OGG;LS5PHHMFTXIFUIFSUIFTFMFDUJPOJTBOPSEFSFEMJTU
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBESFRVFTUFEUIBUUIFTFMFDUJPO CFXSBQQFEJOUIFTFNBOUJDT Q
    PGUIF PM Q FMFNFOU PSVOXSBQQFE PS JGUIFSFJTOPTFMFDUJPO IBWFUIBUTFNBOUJDJOTFSUFEPSSFNPWFEǡUIF
    FYBDUCFIBWJPSJT6"EFИOFE
    
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    BGL>KM3GHK=>K>=*BLM
    /OGG;LS5PHHMFTXIFUIFSUIFTFMFDUJPOJTBOVOPSEFSFEMJTU
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBESFRVFTUFEUIBUUIFTFMFDUJPO CFXSBQQFEJOUIFTFNBOUJDT Q
    PGUIF VM Q FMFNFOU PSVOXSBQQFE PS JGUIFSFJTOPTFMFDUJPO IBWFUIBUTFNBOUJDJOTFSUFEPSSFNPWFEǡUIF
    FYBDUCFIBWJPSJT6"EFИOFE
    
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    BGL>KM.:K:@K:IA
    /OGG;LS*OTFSUTBQBSBHSBQICSFBL
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBEQFSGPSNFEB CSFBLCMPDL Q FEJUJOHBDUJPO
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    BGL>KM2>QM
    /OGG;LS*OTFSUTUIFUFYUHJWFOJOUIFUIJSEQBSBNFUFS
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBE JOTFSUFEUFYU Q DPSSFTQPOEJOHUPUIF E0;D4 QBSBNFUFS
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    BM:EB<
    /OGG;LS5PHHMFTXIFUIFSUIFTFMFDUJPOJTJUBMJD
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBESFRVFTUFEUIBUUIFTFMFDUJPO CFXSBQQFEJOUIFTFNBOUJDT Q
    PGUIF " ( FMFNFOU PS BHBJO VOXSBQQFE PSIBWFUIBUTFNBOUJDJOTFSUFEPSSFNPWFE BTEFИOFECZUIF6"
    
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?5SVFJGUIFTFMFDUJPO PSUIFDBSFU JGUIFSFJTOPTFMFDUJPO JT PSJTDPOUBJOFEXJUIJO B J Q FMFNFOU'BMTF
    PUIFSXJTF
    2;FO?5IFTUSJOHUSVFJGUIFFYQSFTTJPOHJWFOGPSUIF4UBUFBCPWFJTUSVF UIFTUSJOHGBMTFPUIFSXJTF

    K>=H
    /OGG;LS"DUTBTJGUIFVTFSIBESFRVFTUFEBSFEP
    =NCIH5IFVTFSBHFOUNVTU NPWFGPSXBSEPOFTUFQ Q JOJUT VOEPUSBOTBDUJPOIJTUPSZ Q SFTUPSJOHUIF
    BTTPDJBUFETUBUF*GUIF VOEPQPTJUJPO Q JTBUUIFFOEPGUIF VOEPUSBOTBDUJPOIJTUPSZ Q UIFVTFSBHFOUNVTUEP
    OPUIJOH4FFUIF VOEPIJTUPSZ Q 
    !H;<F?>3B?H5IF VOEPQPTJUJPO Q JTOPUBUUIFFOEPGUIF VOEPUSBOTBDUJPOIJTUPSZ Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF

    
    2;FO?"MXBZTUIFTUSJOHGBMTF

    L>E><M EE
    /OGG;LS4FMFDUTBMMUIFFEJUBCMFDPOUFOU
    =NCIH5IFVTFSBHFOUNVTUDIBOHFUIFTFMFDUJPOTPUIBUBMMUIFDPOUFOUJOUIFDVSSFOUMZGPDVTFE FEJUJOHIPTU Q
    JTTFMFDUFE*GOP FEJUJOHIPTU Q JTGPDVTFE UIFOUIFDPOUFOUPGUIFFOUJSFEPDVNFOUNVTUCFTFMFDUFE
    !H;<F?>3B?H"MXBZT
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    LN;L<KBIM
    /OGG;LS5PHHMFTXIFUIFSUIFTFMFDUJPOJTTVCTDSJQUFE
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBESFRVFTUFEUIBUUIFTFMFDUJPO CFXSBQQFEJOUIFTFNBOUJDT Q
    PGUIF +- ( FMFNFOU PS BHBJO VOXSBQQFE PSIBWFUIBUTFNBOUJDJOTFSUFEPSSFNPWFE BTEFИOFECZUIF6"
    
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?5SVFJGUIFTFMFDUJPO PSUIFDBSFU JGUIFSFJTOPTFMFDUJPO JT PSJTDPOUBJOFEXJUIJO B TVC Q FMFNFOU
    'BMTFPUIFSXJTF
    2;FO?5IFTUSJOHUSVFJGUIFFYQSFTTJPOHJWFOGPSUIF4UBUFBCPWFJTUSVF UIFTUSJOHGBMTFPUIFSXJTF

    LNI>KL<KBIM
    /OGG;LS5PHHMFTXIFUIFSUIFTFMFDUJPOJTTVQFSTDSJQUFE
    =NCIH5IFVTFSBHFOUNVTUBDUBTJGUIFVTFSIBESFRVFTUFEUIBUUIFTFMFDUJPO CFXSBQQFEJOUIFTFNBOUJDT Q
    PGUIF TVQ Q FMFNFOU PSVOXSBQQFE PS JGUIFSFJTOPTFMFDUJPO IBWFUIBUTFNBOUJDJOTFSUFEPSSFNPWFEǡUIF
    FYBDUCFIBWJPSJT6"EFИOFE
    
    !H;<F?>3B?H5IFEPDVNFOUJT SFBEZGPSFEJUJOHIPTUDPNNBOET Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?5SVFJGUIFTFMFDUJPO PSUIFDBSFU JGUIFSFJTOPTFMFDUJPO JT PSJTDPOUBJOFEXJUIJO B TVQ Q FMFNFOU
    'BMTFPUIFSXJTF
    2;FO?5IFTUSJOHUSVFJGUIFFYQSFTTJPOHJWFOGPSUIF4UBUFBCPWFJTUSVF UIFTUSJOHGBMTFPUIFSXJTF

    NG=H
    /OGG;LS"DUTBTJGUIFVTFSIBESFRVFTUFEBOVOEP
    =NCIH5IFVTFSBHFOUNVTU NPWFCBDLPOFTUFQ Q JOJUT VOEPUSBOTBDUJPOIJTUPSZ Q SFTUPSJOHUIFBTTPDJBUFE
    TUBUF*GUIF VOEPQPTJUJPO Q JTBUUIFTUBSUPGUIF VOEPUSBOTBDUJPOIJTUPSZ Q UIFVTFSBHFOUNVTUEPOPUIJOH
    4FFUIF VOEPIJTUPSZ Q 
    !H;<F?>3B?H5IF VOEPQPTJUJPO Q JTOPUBUUIFTUBSUPGUIF VOEPUSBOTBDUJPOIJTUPSZ Q 
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    NGEBGD
    /OGG;LS3FNPWFTBMMMJOLTGSPNUIFTFMFDUJPO
    =NCIH5IFVTFSBHFOUNVTUSFNPWFBMM B Q FMFNFOUTUIBUIBWF ISFG Q BUUSJCVUFTBOEUIBUBSFQBSUJBMMZPS
    DPNQMFUFMZJODMVEFEJOUIFDVSSFOUTFMFDUJPO
    !H;<F?>3B?H5IFEPDVNFOUIBTBTFMFDUJPOUIBUJTFOUJSFMZXJUIJOBO FEJUJOHIPTU Q BOEUIBUDPOUBJOT FJUIFS
    QBSUJBMMZPSDPNQMFUFMZ
    BUMFBTUPOF B Q FMFNFOUUIBUIBTBO ISFG Q BUUSJCVUF
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    NGL>E><M
    /OGG;LS6OTFMFDUTFWFSZUIJOH
    =NCIH5IFVTFSBHFOUNVTUDIBOHFUIFTFMFDUJPOTPUIBUOPUIJOHJTTFMFDUFE
    !H;<F?>3B?H"MXBZT
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    O>G=HK(# <NLMHF"HFF:G=(#
    =NCIH6TFSBHFOUTNBZJNQMFNFOUWFOEPSTQFDJИDFYUFOTJPOTUPUIJT"1*7FOEPSTQFDJИDFYUFOTJPOTUPUIFMJTU
    PGDPNNBOETTIPVMEVTFUIFTZOUBY .&'*-+,'%'%%& TPBTUPQSFWFOUDMBTIFTCFUXFFOFYUFOTJPOT
    GSPNEJЗFSFOUWFOEPSTBOEGVUVSFBEEJUJPOTUPUIJTTQFDJИDBUJPO
    !H;<F?>3B?H6"EFИOFE
    %H>?N?LGCH;N?3B?H6"EFИOFE
    /N;N?6"EFИOFE

    
    2;FO?6"EFИOFE

    HSNBCHA?FM?
    =NCIH6TFSBHFOUTNVTUEPOPUIJOH
    !H;<F?>3B?H/FWFS
    %H>?N?LGCH;N?3B?H/FWFS
    /N;N?"MXBZTGBMTF
    2;FO?"MXBZTUIFTUSJOHGBMTF

    
     IGGOHC=;NCIH

      !P?HN>?]HCNCIHM

    .FTTBHFTJO TFSWFSTFOUFWFOUT 8FCTPDLFUT DSPTTEPDVNFOUNFTTBHJOH Q BOE DIBOOFMNFTTBHJOH Q VTFUIF


    H@NN<B@ FWFOU <&7&/54063$&> Q <8&#40$,&5> Q

    5IFGPMMPXJOHJOUFSGBDFJTEFИOFEGPSUIJTFWFOU

    JOUFSGBDF +@NN<B@#Q@IO  &WFOU \


    SFBEPOMZBUUSJCVUFBOZ EBUB
    SFBEPOMZBUUSJCVUF%0.4USJOH PSJHJO
    SFBEPOMZBUUSJCVUF%0.4USJOH MBTU&WFOU*E
    SFBEPOMZBUUSJCVUF 8JOEPX1SPYZ TPVSDF
    SFBEPOMZBUUSJCVUF .FTTBHF1PSU"SSBZ QPSUT
    WPJE JOJU.FTTBHF&WFOU JO%0.4USJOHUZQF"SH JOCPPMFBODBO#VCCMF"SH JOCPPMFBO
    DBODFMBCMF"SH JOBOZEBUB"SH JO%0.4USJOHPSJHJO"SH JO%0.4USJOHMBTU&WFOU*E"SH JO
    8JOEPX1SPYZ TPVSDF"SH JO .FTTBHF1PSU"SSBZ QPSUT"SH
    
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    >O>GM ?<O<
    3FUVSOTUIFEBUBPGUIFNFTTBHF

    >O>GM JMDBDI K


    3FUVSOTUIFPSJHJOPGUIFNFTTBHF GPS TFSWFSTFOUFWFOUT BOE DSPTTEPDVNFOUNFTTBHJOH Q 

    >O>GM G<NO#Q@IO'? K


    3FUVSOTUIFMBTUFWFOU*% GPS TFSWFSTFOUFWFOUT

    >O>GM NJPM>@ K


    3FUVSOTUIF 8JOEPX1SPYZ Q PGUIFTPVSDFXJOEPX GPS DSPTTEPDVNFOUNFTTBHJOH Q 

    >O>GM KJMON K


    3FUVSOTUIF .FTTBHF1PSU"SSBZ Q TFOUXJUIUIFNFTTBHF GPS DSPTTEPDVNFOUNFTTBHJOH Q BOE DIBOOFM
    NFTTBHJOH Q 

    5IF DIDO+@NN<B@#Q@IO NFUIPENVTUJOJUJBMJ[FUIFFWFOUJOBNBOOFSBOBMPHPVTUPUIFTJNJMBSMZOBNFENFUIPEJO


    UIF%0.&WFOUTJOUFSGBDFT <%0.&7&/54> Q

    5IF ?<O< BUUSJCVUFSFQSFTFOUTUIFNFTTBHFCFJOHTFOU

    5IF JMDBDI BUUSJCVUFSFQSFTFOUT JO TFSWFSTFOUFWFOUT BOE DSPTTEPDVNFOUNFTTBHJOH Q UIF PSJHJO Q PGUIF
    EPDVNFOUUIBUTFOUUIFNFTTBHF UZQJDBMMZUIFTDIFNF IPTUOBNF BOEQPSUPGUIFEPDVNFOU CVUOPUJUTQBUIPS
    GSBHNFOUJEFOUJИFS
    

    5IF G<NO#Q@IO'? BUUSJCVUFSFQSFTFOUT JO TFSWFSTFOUFWFOUT UIF MBTUFWFOU*%TUSJOH PGUIFFWFOUTPVSDF

    5IF NJPM>@ BUUSJCVUFSFQSFTFOUT JO DSPTTEPDVNFOUNFTTBHJOH Q UIF 8JOEPX1SPYZ Q PGUIF CSPXTJOHDPOUFYU Q PG
    UIF 8JOEPX Q PCKFDUGSPNXIJDIUIFNFTTBHFDBNF

    5IF KJMON BUUSJCVUFSFQSFTFOUT JO DSPTTEPDVNFOUNFTTBHJOH Q BOE DIBOOFMNFTTBHJOH Q UIF
    .FTTBHF1PSU"SSBZ Q CFJOHTFOU JGBOZ

    &YDFQUXIFSFPUIFSXJTFTQFDJИFE XIFOUIFVTFSBHFOUDSFBUFTBOEEJTQBUDIFTB NFTTBHF Q FWFOUJOUIFBMHPSJUINT


    EFTDSJCFEJOUIFGPMMPXJOHTFDUJPOT UIF MBTU&WFOU*E Q BUUSJCVUFNVTUCFUIFFNQUZTUSJOH UIF PSJHJO Q BUUSJCVUF
    NVTUCFUIFFNQUZTUSJOH UIF TPVSDF Q BUUSJCVUFNVTUCFOVMM BOEUIF QPSUT Q BUUSJCVUFNVTUCFOVMM

    
      LIMM >I=OG?HNG?MM;ACHA

    8FCCSPXTFST GPSTFDVSJUZBOEQSJWBDZSFBTPOT QSFWFOUEPDVNFOUTJOEJЗFSFOUEPNBJOTGSPNBЗFDUJOHFBDIPUIFS


    UIBUJT DSPTTTJUFTDSJQUJOHJTEJTBMMPXFE

    8IJMFUIJTJTBOJNQPSUBOUTFDVSJUZGFBUVSF JUQSFWFOUTQBHFTGSPNEJЗFSFOUEPNBJOTGSPNDPNNVOJDBUJOHFWFOXIFO
    UIPTFQBHFTBSFOPUIPTUJMF5IJTTFDUJPOJOUSPEVDFTBNFTTBHJOHTZTUFNUIBUBMMPXTEPDVNFOUTUPDPNNVOJDBUFXJUI
    FBDIPUIFSSFHBSEMFTTPGUIFJSTPVSDFEPNBJO JOBXBZEFTJHOFEUPOPUFOBCMFDSPTTTJUFTDSJQUJOHBUUBDLT

    5IF UBTLTPVSDF Q GPSUIF UBTLT Q JO DSPTTEPDVNFOUNFTTBHJOH Q JTUIF JIMN?>G?MM;A?N;MEMIOL=?

       %HNLI>O=NCIH

    *78BB42C8>=8B=>==>A<0C8E4

    'PSFYBNQMF JGEPDVNFOU"DPOUBJOTBO JGSBNF Q FMFNFOUUIBUDPOUBJOTEPDVNFOU# BOETDSJQUJOEPDVNFOU"


    DBMMT QPTU.FTTBHF
    Q POUIF 8JOEPX Q PCKFDUPGEPDVNFOU# UIFOBNFTTBHFFWFOUXJMMCFИSFEPOUIBU
    PCKFDU NBSLFEBTPSJHJOBUJOHGSPNUIF 8JOEPX Q PGEPDVNFOU"5IFTDSJQUJOEPDVNFOU"NJHIUMPPLMJLF

    WBSPEPDVNFOUHFU&MFNFOUT#Z5BH/BNF JGSBNF
    <>
    PDPOUFOU8JOEPXQPTU.FTTBHF )FMMPXPSME IUUQCFYBNQMFPSH
    

    5PSFHJTUFSBOFWFOUIBOEMFSGPSJODPNJOHFWFOUT UIFTDSJQUXPVMEVTF BEE&WFOU-JTUFOFS


    PSTJNJMBS
    NFDIBOJTNT
    'PSFYBNQMF UIFTDSJQUJOEPDVNFOU#NJHIUMPPLMJLF

    XJOEPXBEE&WFOU-JTUFOFS NFTTBHF SFDFJWFS GBMTF


    
    GVODUJPOSFDFJWFS F
    \
    JG FPSJHJOIUUQFYBNQMFDPN
    \
    JG FEBUB)FMMPXPSME
    \
    FTPVSDFQPTU.FTTBHF )FMMP FPSJHJO
    
    ^FMTF\
    BMFSU FEBUB
    
    ^
    ^
    ^

    5IJTTDSJQUИSTUDIFDLTUIFEPNBJOJTUIFFYQFDUFEEPNBJO BOEUIFOMPPLTBUUIFNFTTBHF XIJDIJUFJUIFS


    EJTQMBZTUPUIFVTFS PSSFTQPOETUPCZTFOEJOHBNFTTBHFCBDLUPUIFEPDVNFOUXIJDITFOUUIFNFTTBHFJOUIF
    ИSTUQMBDF

       /?=OLCNS

        ONBILM

    [3;LHCHA 1L>H?MABL,%K>JNBK>L>QMK:<:K>MHIKHM><MNL>KL?KHFAHLMBE>>GMBMB>L:;NLBG@:LBM>?HK
    MA>BKHPGINKIHL>L

    "VUIPSTTIPVMEDIFDLUIF PSJHJO Q BUUSJCVUFUPFOTVSFUIBUNFTTBHFTBSFPOMZBDDFQUFEGSPNEPNBJOTUIBUUIFZ


    FYQFDUUPSFDFJWFNFTTBHFTGSPN0UIFSXJTF CVHTJOUIFBVUIPSTNFTTBHFIBOEMJOHDPEFDPVMECFFYQMPJUFECZ
    IPTUJMFTJUFT

    'VSUIFSNPSF FWFOBGUFSDIFDLJOHUIF PSJHJO Q BUUSJCVUF BVUIPSTTIPVMEBMTPDIFDLUIBUUIFEBUBJORVFTUJPOJTPGUIF


    FYQFDUFEGPSNBU0UIFSXJTF JGUIFTPVSDFPGUIFFWFOUIBTCFFOBUUBDLFEVTJOHBDSPTTTJUFTDSJQUJOHЙBX GVSUIFS
    VODIFDLFEQSPDFTTJOHPGJOGPSNBUJPOTFOUVTJOHUIF QPTU.FTTBHF
    Q NFUIPEDPVMESFTVMUJOUIFBUUBDLCFJOH
    QSPQBHBUFEJOUPUIFSFDFJWFS

    "VUIPSTTIPVMEOPUVTFUIFXJMEDBSELFZXPSE
    JOUIF C0A64C%A868= BSHVNFOUJONFTTBHFTUIBUDPOUBJOBOZ
    DPOИEFOUJBMJOGPSNBUJPO BTPUIFSXJTFUIFSFJTOPXBZUPHVBSBOUFFUIBUUIFNFTTBHFJTPOMZEFMJWFSFEUPUIFSFDJQJFOU
    UPXIJDIJUXBTJOUFOEFE

        1M?L;A?HNM

    5IFJOUFHSJUZPGUIJT"1*JTCBTFEPOUIFJOBCJMJUZGPSTDSJQUTPGPOF PSJHJO Q UPQPTUBSCJUSBSZFWFOUT VTJOH


    EJTQBUDI&WFOU
    PSPUIFSXJTF
    UPPCKFDUTJOPUIFSPSJHJOT UIPTFUIBUBSFOPUUIF TBNF Q
    

    
    *HM> %FIE>F>GMHKL:K>NK@>=MHM:D>>QMK:<:K>BGMA>BFIE>F>GM:MBHGH?MABL?>:MNK> %M:EEHPL
    :NMAHKLMHMK:GLFBMBG?HKF:MBHG?KHFHG>=HF:BGMH:GHMA>K=HF:BG PAB<ABLGHKF:EER=BL:EEHP>=
    ?HKL><NKBMRK>:LHGL %M:ELHK>JNBK>LMA:M1L;><:K>?NEMH:EEHP:<<>LLMH<>KM:BGIKHI>KMB>L;NM
    GHMHMA>KL

       ,IMNCHAG?MM;A?M

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    K
    PBG=HP KJNO+@NN<B@ F>LL:@>
    7 IHKML
    8 M:K@>M+KB@BG
    1PTUTBNFTTBHF PQUJPOBMMZXJUIBOBSSBZPGQPSUT UPUIFHJWFOXJOEPX
    *GUIFPSJHJOPGUIFUBSHFUXJOEPXEPFTOUNBUDIUIFHJWFOPSJHJO UIFNFTTBHFJTEJTDBSEFE UPBWPJE
    JOGPSNBUJPOMFBLBHF5PTFOEUIFNFTTBHFUPUIFUBSHFUSFHBSEMFTTPGPSJHJO TFUUIFUBSHFUPSJHJOUP 5P
    SFTUSJDUUIFNFTTBHFUPTBNFPSJHJOUBSHFUTPOMZ XJUIPVUOFFEJOHUPFYQMJDJUMZTUBUFUIFPSJHJO TFUUIF
    UBSHFUPSJHJOUP
    5ISPXTBO */7"-*%@45"5&@&33 Q JGUIF ?>ACB BSSBZJTOPUOVMMBOEJUDPOUBJOTFJUIFSOVMMFOUSJFTPS
    EVQMJDBUFQPSUT

    8IFOBTDSJQUJOWPLFTUIF KJNO+@NN<B@F>LL:@> M:K@>M-KB@BG NFUIPE XJUIPOMZUXPBSHVNFOUT


    POB 8JOEPX Q
    PCKFDU UIFVTFSBHFOUNVTUGPMMPXUIFTFTUFQT

     *GUIFWBMVFPGUIF C0A64C%A868= BSHVNFOUJTOFJUIFSBTJOHMF6 ""45&3*4,DIBSBDUFS


    BTJOHMF
    6 '40-*%64DIBSBDUFS 
    OPSBO BCTPMVUF63- Q XJUIB IPTUTQFDJGJD Q DPNQPOFOUUIBUJTFJUIFS
    FNQUZPSBTJOHMF6 '40-*%64DIBSBDUFS 
    UIFOUISPXB 4:/5"9@&33 Q FYDFQUJPOBOEBCPSUUIF
    PWFSBMMTFUPGTUFQT

     -FU <4BB0642;>=4 CFUIFSFTVMUPGPCUBJOJOHB TUSVDUVSFEDMPOF Q PGUIF <4BB064 BSHVNFOU*GUIJTUISPXT


    BOFYDFQUJPO UIFOUISPXUIBUFYDFQUJPOBOEBCPSUUIFTFTUFQT

     3FUVSOGSPNUIF QPTU.FTTBHF
    Q NFUIPE CVUBTZODISPOPVTMZDPOUJOVFSVOOJOHUIFTFTUFQT

     *GUIF C0A64C%A868= BSHVNFOUJTBTJOHMFMJUFSBM6 '40-*%64DIBSBDUFS 


    BOEUIF %PDVNFOU Q PGUIF
    8JOEPX Q PCKFDUPOXIJDIUIFNFUIPEXBTJOWPLFEEPFTOPUIBWFUIF TBNFPSJHJO Q BTUIF FOUSZ
    TDSJQU Q T EPDVNFOU Q UIFOBCPSUUIFTFTUFQTTJMFOUMZ

    0UIFSXJTF JGUIF C0A64C%A868= BSHVNFOUJTBO BCTPMVUF63- Q BOEUIF %PDVNFOU Q PGUIF 8JOEPX Q PCKFDU
    POXIJDIUIFNFUIPEXBTJOWPLFEEPFTOPUIBWFUIF TBNFPSJHJO Q BT C0A64C%A868= UIFOBCPSUUIFTFTUFQT
    TJMFOUMZ

    0UIFSXJTF UIF C0A64C%A868= BSHVNFOUJTBTJOHMFMJUFSBM6 ""45&3*4,DIBSBDUFS


    BOEOPPSJHJODIFDL
    JTNBEF

     $SFBUFBOFWFOUUIBUVTFTUIF .FTTBHF&WFOU Q JOUFSGBDF XJUIUIFFWFOUOBNF NFTTBHF Q XIJDIEPFTOPU


    CVCCMF JTOPUDBODFMBCMF BOEIBTOPEFGBVMUBDUJPO5IF EBUB Q BUUSJCVUFNVTUCFTFUUPUIFWBMVFPG
    <4BB0642;>=4 UIF PSJHJO Q BUUSJCVUFNVTUCFTFUUPUIF 6OJDPEFTFSJBMJ[BUJPO Q PGUIF PSJHJO Q PGUIF
    TDSJQUUIBUJOWPLFEUIFNFUIPE BOEUIF TPVSDF Q BUUSJCVUFNVTUCFTFUUPUIF TDSJQUTHMPCBMPCKFDU Q T
    8JOEPX1SPYZ Q PCKFDU

     2VFVFBUBTL Q UPEJTQBUDIUIFFWFOUDSFBUFEJOUIFQSFWJPVTTUFQBUUIF 8JOEPX Q PCKFDUPOXIJDIUIF


    NFUIPEXBTJOWPLFE5IF UBTLTPVSDF Q GPSUIJT UBTL Q JTUIF QPTUFENFTTBHFUBTLTPVSDF Q 

       ,IMNCHAG?MM;A?MQCNBG?MM;A?JILNM

    8IFOBTDSJQUJOWPLFTUIF KJNO+@NN<B@F>LL:@> M:K@>M-KB@BG IHKML NFUIPE XJUIUISFFBSHVNFOUT


    POB
    8JOEPX Q PCKFDU UIFVTFSBHFOUNVTUGPMMPXUIFTFTUFQT

     *GUIFWBMVFPGUIF C0A64C%A868= BSHVNFOUJTOFJUIFSBTJOHMF6 ""45&3*4,DIBSBDUFS


    BTJOHMF
    6 '40-*%64DIBSBDUFS 
    OPSBO BCTPMVUF63- Q XJUIB IPTUTQFDJGJD Q DPNQPOFOUUIBUJTFJUIFS
    FNQUZPSBTJOHMF6 '40-*%64DIBSBDUFS 
    UIFOUISPXB 4:/5"9@&33 Q FYDFQUJPOBOEBCPSUUIF
    PWFSBMMTFUPGTUFQT

    
     -FU <4BB0642;>=4 CFUIFSFTVMUPGPCUBJOJOHB TUSVDUVSFEDMPOF Q PGUIF <4BB064 BSHVNFOU*GUIJTUISPXT
    BOFYDFQUJPO UIFOUISPXUIBUFYDFQUJPOBOEBCPSUUIFTFTUFQT

     *GUIF ?>ACB BSHVNFOUJTFNQUZ UIFOBDUBTJGUIFNFUIPEIBEKVTUCFFO DBMMFEXJUIUXPBSHVNFOUT Q


    <4BB064 BOE C0A64C%A868=

     *GBOZPGUIFFOUSJFTJO ?>ACB BSFOVMM JGBOZ .FTTBHF1PSU Q PCKFDUJTMJTUFEJO ?>ACB NPSFUIBOPODF PSJGBOZ
    PGUIF .FTTBHF1PSU Q PCKFDUTMJTUFEJO ?>ACB IBWFBMSFBEZCFFODMPOFEPODFCFGPSF UIFOUISPXBO
    */7"-*%@45"5&@&33 Q FYDFQUJPO

     -FU =4F?>ACB CFBOFNQUZBSSBZ

    'PSFBDIQPSUJO ?>ACB JOUVSO PCUBJOBOFXQPSUCZ DMPOJOH Q UIFQPSUXJUIUIF 8JOEPX Q PCKFDUPOXIJDI
    UIFNFUIPEXBTJOWPLFEBTUIFPXOFSPGUIFDMPOF BOEBQQFOEUIFDMPOFUPUIF =4F?>ACB BSSBZ

     3FUVSOGSPNUIF QPTU.FTTBHF
    Q NFUIPE CVUBTZODISPOPVTMZDPOUJOVFSVOOJOHUIFTFTUFQT

     *GUIF C0A64C%A868= BSHVNFOUJTBTJOHMFMJUFSBM6 '40-*%64DIBSBDUFS 


    BOEUIF %PDVNFOU Q PGUIF
    8JOEPX Q PCKFDUPOXIJDIUIFNFUIPEXBTJOWPLFEEPFTOPUIBWFUIF TBNFPSJHJO Q BTUIF FOUSZ
    TDSJQU Q T EPDVNFOU Q UIFOBCPSUUIFTFTUFQTTJMFOUMZ

    0UIFSXJTF JGUIF C0A64C%A868= BSHVNFOUJTBO BCTPMVUF63- Q BOEUIF %PDVNFOU Q PGUIF 8JOEPX Q PCKFDU
    POXIJDIUIFNFUIPEXBTJOWPLFEEPFTOPUIBWFUIF TBNFPSJHJO Q BT C0A64C%A868= UIFOBCPSUUIFTFTUFQT
    TJMFOUMZ

    0UIFSXJTF UIF C0A64C%A868= BSHVNFOUJTBTJOHMFMJUFSBM6 ""45&3*4,DIBSBDUFS


    BOEOPPSJHJODIFDL
    JTNBEF

     $SFBUFBOFWFOUUIBUVTFTUIF .FTTBHF&WFOU Q JOUFSGBDF XJUIUIFFWFOUOBNF NFTTBHF Q XIJDIEPFTOPU


    CVCCMF JTOPUDBODFMBCMF BOEIBTOPEFGBVMUBDUJPO5IF EBUB Q BUUSJCVUFNVTUCFTFUUPUIFWBMVFPG
    <4BB0642;>=4 UIF PSJHJO Q BUUSJCVUFNVTUCFTFUUPUIF 6OJDPEFTFSJBMJ[BUJPO Q PGUIF PSJHJO Q PGUIF
    TDSJQUUIBUJOWPLFEUIFNFUIPE BOEUIF TPVSDF Q BUUSJCVUFNVTUCFTFUUPUIF TDSJQUTHMPCBMPCKFDU Q T
    8JOEPX1SPYZ Q PCKFDU

     -FUUIF QPSUT Q BUUSJCVUFPGUIFFWFOUCFUIF =4F?>ACB BSSBZ

     2VFVFBUBTL Q UPEJTQBUDIUIFFWFOUDSFBUFEJOUIFQSFWJPVTTUFQBUUIF 8JOEPX Q PCKFDUPOXIJDIUIF


    NFUIPEXBTJOWPLFE5IF UBTLTPVSDF Q GPSUIJT UBTL Q JTUIF QPTUFENFTTBHFUBTLTPVSDF Q 

    *HM> 0A>L>LM>IL PBMAMA>>Q<>IMBHGH?MA>MABK= ?HNKMA :G=[?MALM>IL:G=MA>I>GNEMBF:M>


    LM>I :K>B=>GMB<:EMHMAHL>BGMA>IK>OBHNLL><MBHG

      B;HH?FG?MM;ACHA

       %HNLI>O=NCIH

    *78BB42C8>=8B=>==>A<0C8E4

    5PFOBCMFJOEFQFOEFOUQJFDFTPGDPEF FHSVOOJOHJOEJЗFSFOU CSPXTJOHDPOUFYUT Q


    UPDPNNVOJDBUFEJSFDUMZ
    BVUIPSTDBOVTF DIBOOFMNFTTBHJOH Q 

    $PNNVOJDBUJPODIBOOFMTJOUIJTNFDIBOJTNTBSFJNQMFNFOUFEBTUXPXBZTQJQFT XJUIBQPSUBUFBDIFOE.FTTBHFT
    TFOUJOPOFQPSUBSFEFMJWFSFEBUUIFPUIFSQPSU BOEWJDFWFSTB.FTTBHFTBSFBTZODISPOPVT BOEEFMJWFSFEBT%0.
    FWFOUT

    5PDSFBUFBDPOOFDUJPO UXPFOUBOHMFEQPSUT
    UIF .FTTBHF$IBOOFM
    DPOTUSVDUPSJTDBMMFE

    WBSDIBOOFMOFX.FTTBHF$IBOOFM
    

    0OFPGUIFQPSUTJTLFQUBTUIFMPDBMQPSU BOEUIFPUIFSQPSUJTTFOUUPUIFSFNPUFDPEF FHVTJOH QPTU.FTTBHF


    Q 

    PUIFS8JOEPXQPTU.FTTBHF IFMMP IUUQFYBNQMFDPN <DIBOOFMQPSU>


    

    5PTFOENFTTBHFT UIF QPTU.FTTBHF


    Q NFUIPEPOUIFQPSUJTVTFE

    DIBOOFMQPSUQPTU.FTTBHF IFMMP
    

    5PSFDFJWFNFTTBHFT POFMJTUFOTUP NFTTBHF Q FWFOUT

    
    DIBOOFMQPSUPONFTTBHFIBOEMF.FTTBHF
    GVODUJPOIBOEMF.FTTBHF FWFOU
    \
    NFTTBHFJTJOFWFOUEBUB
    
    ^

       )?MM;A?=B;HH?FM

    <$POTUSVDUPS>
    JOUFSGBDF +@NN<B@!C<II@G \
    SFBEPOMZBUUSJCVUF .FTTBHF1PSU QPSU
    SFBEPOMZBUUSJCVUF .FTTBHF1PSU QPSU
    ^

    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    <A:GG>E H?Q +@NN<B@!C<II@G K 
    3FUVSOTBOFX .FTTBHF$IBOOFM Q PCKFDUXJUIUXPOFX .FTTBHF1PSU Q PCKFDUT

    <A:GG>E KJMO
    3FUVSOTUIFИSTU .FTTBHF1PSU Q PCKFDU

    <A:GG>E KJMO
    3FUVSOTUIFTFDPOE .FTTBHF1PSU Q PCKFDU

    8IFOUIF +@NN<B@!C<II@G DPOTUSVDUPSJTDBMMFE JUNVTUSVOUIFGPMMPXJOHBMHPSJUIN

     $SFBUFBOFX .FTTBHF1PSU PCKFDU Q PXOFECZUIF TDSJQUTHMPCBMPCKFDU Q BOEMFU ?>AC CFUIBUPCKFDU

     $SFBUFBOFX .FTTBHF1PSU PCKFDU Q PXOFECZUIF TDSJQUTHMPCBMPCKFDU Q BOEMFU ?>AC CFUIBUPCKFDU

     &OUBOHMF Q UIF ?>AC BOE ?>AC PCKFDUT

     *OTUBOUJBUFBOFX .FTTBHF$IBOOFM Q PCKFDU BOEMFU 270==4; CFUIBUPCKFDU

     -FUUIF QPSU Q BUUSJCVUFPGUIF 270==4; PCKFDUCF ?>AC 

     -FUUIF QPSU Q BUUSJCVUFPGUIF 270==4; PCKFDUCF ?>AC 

     3FUVSO 270==4;

    5IJTDPOTUSVDUPSNVTUCFWJTJCMFXIFOUIF TDSJQUTHMPCBMPCKFDU Q JTFJUIFSB 8JOEPX Q PCKFDUPSBOPCKFDU


    JNQMFNFOUJOHUIF 8PSLFS6UJMT JOUFSGBDF

    5IF KJMO BOE KJMO BUUSJCVUFTNVTUSFUVSOUIFWBMVFTUIFZXFSFBTTJHOFEXIFOUIF .FTTBHF$IBOOFM Q PCKFDUXBT


    DSFBUFE

       )?MM;A?JILNM

    &BDIDIBOOFMIBTUXPNFTTBHFQPSUT%BUBTFOUUISPVHIPOFQPSUJTSFDFJWFECZUIFPUIFSQPSU BOEWJDFWFSTB

    UZQFEFGTFRVFODF.FTTBHF1PSU +@NN<B@.JMOMM<T

    JOUFSGBDF +@NN<B@.JMO \
    WPJE QPTU.FTTBHF JOBOZNFTTBHF JOPQUJPOBM .FTTBHF1PSU"SSBZ QPSUT
    
    WPJE TUBSU
    
    WPJE DMPTF
    

    FWFOUIBOEMFST
    BUUSJCVUF 'VODUJPO PONFTTBHF
    ^
    .FTTBHF1PSU JNQMFNFOUT &WFOU5BSHFU

    
    *78B1>G8B=>==>A<0C8E4 <?;4<4=C0C8>=A4@D8A4<4=CB0A468E4=14;>FC78B1>G
    IHKM KJNO+@NN<B@F>LL:@> 7
    IHKML8
    1PTUTBNFTTBHFUISPVHIUIFDIBOOFM PQUJPOBMMZXJUIUIFHJWFOQPSUT
    5ISPXTBO */7"-*%@45"5&@&33 Q JGUIF ?>ACB BSSBZJTOPUOVMMBOEJUDPOUBJOTFJUIFSOVMMFOUSJFT EVQMJDBUF
    QPSUT PSUIFTPVSDFPSUBSHFUQPSU

    IHKM NO<MO K 


    #FHJOTEJTQBUDIJOHNFTTBHFTSFDFJWFEPOUIFQPSU

    IHKM >GJN@ K 


    %JTDPOOFDUTUIFQPSU TPUIBUJUJTOPMPOHFSBDUJWF

    &BDI .FTTBHF1PSU Q PCKFDUDBOCFFOUBOHMFEXJUIBOPUIFS BTZNNFUSJDSFMBUJPOTIJQ


    &BDI .FTTBHF1PSU Q PCKFDU
    BMTPIBTB UBTLTPVSDF Q DBMMFEUIF JILNG?MM;A?KO?O? JOJUJBMFNQUZ" QPSUNFTTBHFRVFVF Q DBOCFFOBCMFEPS
    EJTBCMFE BOEJTJOJUJBMMZEJTBCMFE0ODFFOBCMFE BQPSUDBOOFWFSCFEJTBCMFEBHBJO UIPVHINFTTBHFTJOUIFRVFVF
    DBOHFUNPWFEUPBOPUIFSRVFVFPSSFNPWFEBMUPHFUIFS XIJDIIBTNVDIUIFTBNFFЗFDU
    

    8IFOUIFVTFSBHFOUJTUP =L?;N?;H?Q +@NN<B@.JMO I<D?=N PXOFECZB TDSJQUTHMPCBMPCKFDU Q PCKFDU >F=4A JU
    NVTUJOTUBOUJBUFBOFX .FTTBHF1PSU Q PCKFDU BOEMFUJUTPXOFSCF >F=4A

    8IFOUIFVTFSBHFOUJTUP ?HN;HAF? UXP .FTTBHF1PSU Q PCKFDUT JUNVTUSVOUIFGPMMPXJOHTUFQT

     *GPOFPGUIFQPSUTJTBMSFBEZFOUBOHMFE UIFOEJTFOUBOHMFJUBOEUIFQPSUUIBUJUXBTFOUBOHMFEXJUI

    *HM> %?MAHL>MPHIK>OBHNLER>GM:G@E>=IHKMLP>K>MA>MPHIHKMLH?: +>LL:@>"A:GG>E I


    H;C><M MA>GMA:M +>LL:@>"A:GG>E I H;C><MGHEHG@>KK>IK>L>GML:G:<MN:E<A:GG>EMA>
    MPHIHKMLBGMA:MH;C><M:K>GHEHG@>K>GM:G@E>=

     "TTPDJBUFUIFUXPQPSUTUPCFFOUBOHMFE TPUIBUUIFZGPSNUIFUXPQBSUTPGBOFXDIBOOFM 5IFSFJTOP


    .FTTBHF$IBOOFM Q PCKFDUUIBUSFQSFTFOUTUIJTDIBOOFM

    8IFOUIFVTFSBHFOUJTUP =FIH?;JILN >A868=0;?>AC XJUIUIFDMPOFCFJOHPXOFECZ >F=4A JUNVTUSVOUIFGPMMPXJOH


    TUFQT XIJDISFUVSOBOFX .FTTBHF1PSU Q PCKFDU5IFTFTUFQTNVTUCFSVOBUPNJDBMMZ

     $SFBUFBOFX .FTTBHF1PSU PCKFDU Q PXOFECZ >F=4A BOEMFU =4F?>AC CFUIBUPCKFDU

     .PWFBMMUIFFWFOUTJOUIF QPSUNFTTBHFRVFVF Q PG >A868=0;?>AC UPUIF QPSUNFTTBHFRVFVF Q PG =4F


    ?>AC JGBOZ MFBWJOHUIF =4F?>ACT QPSUNFTTBHFRVFVF Q JOJUTJOJUJBMEJTBCMFETUBUF

     *GUIF >A868=0;?>AC JTFOUBOHMFEXJUIBOPUIFSQPSU UIFOSVOUIFTFTVCTUFQT

     -FUUIF A4<>C4?>AC CFUIFQPSUXJUIXIJDIUIF >A868=0;?>AC JTFOUBOHMFE

     &OUBOHMF Q UIF A4<>C4?>AC BOE =4F?>AC PCKFDUT5IF >A868=0;?>AC PCKFDUXJMMCFEJTFOUBOHMFECZ


    UIJTQSPDFTT

     3FUVSO =4F?>AC*UJTUIFDMPOF

    5IF KJNO+@NN<B@ NFUIPE XIFODBMMFEPOBQPSU B>DA24?>AC NVTUDBVTFUIFVTFSBHFOUUPSVOUIFGPMMPXJOHTUFQT

     -FU C0A64C?>AC CFUIFQPSUXJUIXIJDI B>DA24?>AC JTFOUBOHMFE JGBOZ

     *GUIFNFUIPEXBTDBMMFEXJUIBTFDPOEBSHVNFOU ?>ACB BOEUIBUBSHVNFOUJTOUOVMM UIFO JGBOZPGUIF


    FOUSJFTJO ?>ACB BSFOVMM JGBOZ .FTTBHF1PSU Q PCKFDUJTMJTUFEJO ?>ACB NPSFUIBOPODF JGBOZPGUIF
    .FTTBHF1PSU Q PCKFDUTMJTUFEJO ?>ACB IBWFBMSFBEZCFFODMPOFEPODFCFGPSF PSJGBOZPGUIFFOUSJFTJO ?>ACB
    BSFFJUIFSUIF B>DA24?>AC PSUIF C0A64C?>AC JGBOZ
    UIFOUISPXBO */7"-*%@45"5&@&33 Q FYDFQUJPO

     *GUIFSFJTOP C0A64C?>AC JFJG B>DA24?>AC JTOPUFOUBOHMFE


    UIFOBCPSUUIFTFTUFQT

     $SFBUFBOFWFOUUIBUVTFTUIF .FTTBHF&WFOU Q JOUFSGBDF XJUIUIFOBNF NFTTBHF Q XIJDIEPFTOPU


    CVCCMF JTOPUDBODFMBCMF BOEIBTOPEFGBVMUBDUJPO

     -FU <4BB064 CFUIFNFUIPETИSTUBSHVNFOU

    
     -FU <4BB0642;>=4 CFUIFSFTVMUPGPCUBJOJOHB TUSVDUVSFEDMPOF Q PG <4BB064*GUIJTUISPXTBOFYDFQUJPO
    UIFOUISPXUIBUFYDFQUJPOBOEBCPSUUIFTFTUFQT

     -FUUIF EBUB Q BUUSJCVUFPGUIFFWFOUIBWFUIFWBMVFPG <4BB0642;>=4

     *GUIFNFUIPEXBTDBMMFEXJUIBTFDPOEBSHVNFOU ?>ACB BOEUIBUBSHVNFOUJTOUOVMM UIFOSVOUIFGPMMPXJOH


    TVCTUFQT

     -FU =4F?>ACB CFBOFNQUZBSSBZ

    'PSFBDIQPSUJO ?>ACB JOUVSO PCUBJOBOFXQPSUCZ DMPOJOH Q UIFQPSUXJUIUIFPXOFSPGUIF C0A64C


    ?>AC BTUIFPXOFSPGUIFDMPOF BOEBQQFOEUIFDMPOFUPUIF =4F?>ACB BSSBZ

    *HM> %?MA>HKB@BG:E IHKML :KK:RP:L>FIMR MA>GMA> G>PIHKML :KK:RPBEE:ELH;>


    >FIMR

     -FUUIF QPSUT Q BUUSJCVUFPGUIFFWFOUCFUIF =4F?>ACB BSSBZ

     "EEUIFFWFOUUPUIF QPSUNFTTBHFRVFVF Q PG C0A64C?>AC

    5IF NO<MO NFUIPENVTUFOBCMFJUTQPSUT QPSUNFTTBHFRVFVF Q JGJUJTOPUBMSFBEZFOBCMFE

    8IFOBQPSUT QPSUNFTTBHFRVFVF Q JTFOBCMFE UIF FWFOUMPPQ Q NVTUVTFJUBTPOFPGJUT UBTLTPVSDFT Q 

    *HM> %?MA> #H<NF>GM I H?MA>IHKML>O>GMEBLM>G>KL @EH;:EH;C><M I BLGHM ?NEER:<MBO> I MA>G
    MA>F>LL:@>L:K>EHLM

    5IF >GJN@ NFUIPE XIFODBMMFEPOBQPSU ;>20;?>AC UIBUJTFOUBOHMFEXJUIBOPUIFSQPSU NVTUDBVTFUIFVTFSBHFOUT


    UPEJTFOUBOHMFUIFUXPQPSUT*GUIFNFUIPEJTDBMMFEPOBQPSUUIBUJTOPUFOUBOHMFE UIFOUIFNFUIPENVTUEPOPUIJOH

    5IFGPMMPXJOHBSFUIF FWFOUIBOEMFST Q BOEUIFJSDPSSFTQPOEJOH FWFOUIBOEMFSFWFOUUZQFT Q


    UIBUNVTUCF
    TVQQPSUFE BT*%-BUUSJCVUFT CZBMMPCKFDUTJNQMFNFOUJOHUIF .FTTBHF1PSU Q JOUFSGBDF

    !P?HNB;H>F?L J !P?HNB;H>F?L?P?HNNSJ? J

    JIH@NN<B@ NFTTBHF Q

    5IFИSTUUJNFB .FTTBHF1PSU Q PCKFDUT PONFTTBHF Q *%-BUUSJCVUFJTTFU UIFQPSUT QPSUNFTTBHFRVFVF Q NVTUCF
    FOBCMFE BTJGUIF TUBSU
    Q NFUIPEIBECFFODBMMFE

        ,ILNM;H>A;L<;A?=IFF?=NCIH

    8IFOB .FTTBHF1PSU Q PCKFDU > JTFOUBOHMFE VTFSBHFOUTNVTUFJUIFSBDUBTJG >TFOUBOHMFE .FTTBHF1PSU Q PCKFDU
    IBTBTUSPOHSFGFSFODFUP > PSBTJG >TPXOFSIBTBTUSPOHSFGFSFODFUP >

    0ANL :F>LL:@>IHKM<:G;>K><>BO>= @BO>G:G>O>GMEBLM>G>K :G=MA>G?HK@HMM>G :G=LHEHG@:L


    MA:M>O>GMEBLM>G>K<HNE=K><>BO>:F>LL:@> MA><A:GG>EPBEE;>F:BGM:BG>=

    +?<HNKL> B?MABLP:LMHH<<NKHG;HMALB=>LH?MA><A:GG>E MA>G;HMAIHKML<HNE=;>@:K;:@>


    <HEE><M>= LBG<>MA>RPHNE=GHM;>K>:<A:;E>?KHFEBO><H=> =>LIBM>A:OBG@:LMKHG@K>?>K>G<>MH
    >:<AHMA>K

    'VSUIFSNPSF B .FTTBHF1PSU Q PCKFDUNVTUOPUCFHBSCBHFDPMMFDUFEXIJMFUIFSFFYJTUTBNFTTBHFJOB UBTLRVFVF Q


    UIBUJTUPCFEJTQBUDIFEPOUIBU .FTTBHF1PSU Q PCKFDU PSXIJMFUIF .FTTBHF1PSU Q PCKFDUT QPSUNFTTBHFRVFVF Q
    JTPQFOBOEUIFSFFYJTUTB NFTTBHF Q FWFOUJOUIBURVFVF

    *HM> NMAHKL:K>LMKHG@ER>G<HNK:@>=MH>QIEB<BMER<EHL> +>LL:@>.HKM I H;C><MLMH=BL>GM:G@E>


    MA>F LHMA:MMA>BKK>LHNK<>L<:G;>K><HEE><M>= K>:MBG@F:GR +>LL:@>.HKM I H;C><ML:G=
    =BL<:K=BG@MA>FPBMAHNM<EHLBG@MA>F<:GE>:=MHAB@AF>FHKRNL:@>

    
     0B?$0)(MSHN;R

    *HM> 0ABLL><MBHGHGER=>L<KB;>LMA>KNE>L?HKK>LHNK<>LE:;>E>=PBMA:G $0)()%)!MRI> I


    .NE>L?HK4)(K>LHNK<>L:K>=BL<NLL>=BGMA>L><MBHG;>EHP>GMBME>=0A>4$0)(LRGM:Q I 

      3LCNCHA$0)(>I=OG?HNM

    *78BB42C8>=>=;H0??;84BC>3>2D<4=CB0DC7>A8=6C>>;B0=3<0A:D?64=4A0C>AB =?0AC82D;0A8C3>4B=>C0??;HC>
    2>=5>A<0=242742:4AB2>=5>A<0=242742:4AB<DBCDB4C74A4@D8A4<4=CB68E4=8=C74=4GCB42C8>=?0AB8=6*#"
    3>2D<4=CB

    %PDVNFOUTNVTUDPOTJTUPGUIFGPMMPXJOHQBSUT JOUIFHJWFOPSEFS

     0QUJPOBMMZ BTJOHMF6 '&''#:5&03%&3."3, #0.


    DIBSBDUFS

     "OZOVNCFSPG DPNNFOUT Q BOE TQBDFDIBSBDUFST Q 

     " %0$5:1& Q 

     "OZOVNCFSPG DPNNFOUT Q BOE TQBDFDIBSBDUFST Q 

     5IFSPPUFMFNFOU JOUIFGPSNPGBO IUNM Q FMFNFOU Q 

     "OZOVNCFSPG DPNNFOUT Q BOE TQBDFDIBSBDUFST Q 

    5IFWBSJPVTUZQFTPGDPOUFOUNFOUJPOFEBCPWFBSFEFTDSJCFEJOUIFOFYUGFXTFDUJPOT

    *OBEEJUJPO UIFSFBSFTPNFSFTUSJDUJPOTPOIPX DIBSBDUFSFODPEJOHEFDMBSBUJPOT Q BSFUPCFTFSJBMJ[FE BTEJTDVTTFEJO


    UIFTFDUJPOPOUIBUUPQJD

    /I:<><A:K:<M>KL;>?HK>MA>KHHM AMFE I >E>F>GM :G=LI:<><A:K:<M>KL:MMA>LM:KMH?MA> AMFE I


    >E>F>GM:G=;>?HK>MA> A>:= I >E>F>GM PBEE;>=KHII>=PA>GMA>=H<NF>GMBLI:KL>=LI:<>
    <A:K:<M>KL :?M>K MA>KHHM AMFE I >E>F>GMPBEE;>I:KL>=:LB?MA>RP>K>:MMA>>G=H?MA> ;H=R I
    >E>F>GM 0ANL LI:<><A:K:<M>KL:KHNG=MA>KHHM>E>F>GM=HGHMKHNG=
    MKBI

    %MBLLN@@>LM>=MA:MG>PEBG>L;>BGL>KM>=:?M>KMA> +05,! :?M>K:GR<HFF>GMLMA:M:K>;>?HK>


    MA>KHHM>E>F>GM :?M>KMA> AMFE I >E>F>GMLLM:KMM:@B?BMBLGHM HFBMM>= I  :G=:?M>K:GR
    <HFF>GMLMA:M:K>BGLB=>MA> AMFE I >E>F>GM;NM;>?HK>MA> A>:= I >E>F>GM

    .BOZTUSJOHTJOUIF)5.-TZOUBY FHUIFOBNFTPGFMFNFOUTBOEUIFJSBUUSJCVUFT
    BSFDBTFJOTFOTJUJWF CVUPOMZGPS
    DIBSBDUFSTJOUIFSBOHFT6 UP6 " -"5*/$"1*5"--&55&3"UP-"5*/$"1*5"--&55&3;
    BOE6 UP
    6 " -"5*/4."---&55&3"UP-"5*/4."---&55&3;
    'PSDPOWFOJFODF JOUIJTTFDUJPOUIJTJTKVTUSFGFSSFEUPBT
    DBTFJOTFOTJUJWF

       0B? +05,!

    " +05,! JTBSFRVJSFEQSFBNCMF

    *HM> +05,!L:K>K>JNBK>=?HKE>@:<RK>:LHGL 3A>GHFBMM>= ;KHPL>KLM>G=MHNL>:=BZ>K>GM


    K>G=>KBG@FH=>MA:MBLBG<HFI:MB;E>PBMALHF>LI><B[<:MBHGL %G<EN=BG@MA> +05,!BG:
    =H<NF>GM>GLNK>LMA:MMA>;KHPL>KF:D>L:;>LM
    >ZHKM:MM>FIM:M?HEEHPBG@MA>K>E>O:GM
    LI><B[<:MBHGL

    "%0$5:1&NVTUDPOTJTUPGUIFGPMMPXJOHDIBSBDUFST JOUIJTPSEFS

     "TUSJOHUIBUJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOH%0$5:1&


     0OFPSNPSF TQBDFDIBSBDUFST Q 
     "TUSJOHUIBUJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOH)5.-
     0QUJPOBMMZ B %0$5:1&MFHBDZTUSJOH Q PSBO PCTPMFUFQFSNJUUFE%0$5:1&TUSJOH Q EFИOFECFMPX
    
     ;FSPPSNPSF TQBDFDIBSBDUFST Q 
     "6 &(3&"5&35)"/4*(/DIBSBDUFS 
    

    *HM> %GHMA>KPHK=L #-"27.$'2+* <:L>


    BGL>GLBMBO>ER

    
    'PSUIFQVSQPTFTPG)5.-HFOFSBUPSTUIBUDBOOPUPVUQVU)5.-NBSLVQXJUIUIFTIPSU%0$5:1&%0$5:1&)5.- B
    +05,!F?A;=SMNLCHA NBZCFJOTFSUFEJOUPUIF%0$5:1& JOUIFQPTJUJPOEFИOFEBCPWF
    5IJTTUSJOHNVTUDPOTJTU
    PG

     0OFPSNPSF TQBDFDIBSBDUFST Q 


     "TUSJOHUIBUJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOH4:45&.
     0OFPSNPSF TQBDFDIBSBDUFST Q 
     "6 2605"5*0/."3,PS6 "1045301)&DIBSBDUFS UIF @D>C4<0A:
    
     5IFMJUFSBMTUSJOHBCPVUMFHBDZDPNQBU Q 
     "NBUDIJOH6 2605"5*0/."3,PS6 "1045301)&DIBSBDUFS JFUIFTBNFDIBSBDUFSBTJOUIF
    FBSMJFSTUFQMBCFMFE @D>C4<0A:
    

    *HM> %GHMA>KPHK=L #-"27.$'2+*1712$+:;HNME>@:<R <HFI:M HK #-"27.$'2+*1712$+


    :;HNME>@:<R <HFI:M <:L>
    BGL>GLBMBO>ER>Q<>IM?HKMA>;BMBGLBG@E>HK=HN;E>JNHM>L

    5IF %0$5:1&MFHBDZTUSJOH Q TIPVMEOPUCFVTFEVOMFTTUIFEPDVNFOUJTHFOFSBUFEGSPNBTZTUFNUIBUDBOOPU


    PVUQVUUIFTIPSUFSTUSJOH

    5PIFMQBVUIPSTUSBOTJUJPOGSPN)5.-BOE9)5.- BO I<MIF?N?J?LGCNN?> +05,!MNLCHA DBOCFJOTFSUFEJOUP


    UIF%0$5:1& JOUIFQPTJUJPOEFИOFEBCPWF
    5IJTTUSJOHNVTUDPOTJTUPG

     0OFPSNPSF TQBDFDIBSBDUFST Q 


     "TUSJOHUIBUJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOH16#-*$
     0OFPSNPSF TQBDFDIBSBDUFST Q 
     "6 2605"5*0/."3,PS6 "1045301)&DIBSBDUFS UIF PABC@D>C4<0A:
    
     5IFTUSJOHGSPNPOFPGUIFDFMMTJOUIFИSTUDPMVNOPGUIFUBCMFCFMPX5IFSPXUPXIJDIUIJTDFMMCFMPOHTJT
    UIF B4;42C43A>F
     "NBUDIJOH6 2605"5*0/."3,PS6 "1045301)&DIBSBDUFS JFUIFTBNFDIBSBDUFSBTJOUIF
    FBSMJFSTUFQMBCFMFE PABC@D>C4<0A:
    
     *GUIFDFMMJOUIFTFDPOEDPMVNOPGUIF B4;42C43A>F JTOPUCMBOL POFPSNPSF TQBDFDIBSBDUFST Q 
     *GUIFDFMMJOUIFTFDPOEDPMVNOPGUIF B4;42C43A>F JTOPUCMBOL B6 2605"5*0/."3,PS6 
    "1045301)&DIBSBDUFS UIF C78A3@D>C4<0A:
    
     *GUIFDFMMJOUIFTFDPOEDPMVNOPGUIF B4;42C43A>F JTOPUCMBOL UIFTUSJOHGSPNUIFDFMMJOUIFTFDPOE
    DPMVNOPGUIF B4;42C43A>F
     *GUIFDFMMJOUIFTFDPOEDPMVNOPGUIF B4;42C43A>F JTOPUCMBOL BNBUDIJOH6 2605"5*0/."3,PS
    6 "1045301)&DIBSBDUFS JFUIFTBNFDIBSBDUFSBTJOUIFFBSMJFSTUFQMBCFMFE C78A3@D>C4<0A:
    

    "MMPXFEWBMVFTGPSQVCMJDBOETZTUFNJEFOUJИFSTJOBO PCTPMFUFQFSNJUUFE%0$5:1&TUSJOH Q 


    ,O<FC=C>?HNC]?L /SMN?GC>?HNC]?L

    8$%5% )5.- &/


    8$%5% )5.- &/ IUUQXXXXPSH533&$IUNMTUSJDUEUE
    8$%5% )5.- &/
    8$%5% )5.- &/ IUUQXXXXPSH53IUNMTUSJDUEUE
    8$%5% 9)5.-  4USJDU&/ IUUQXXXXPSH53YIUNM%5%YIUNMTUSJDUEUE
    8$%5% 9)5.- &/ IUUQXXXXPSH53YIUNM%5%YIUNMEUE

    " %0$5:1& Q DPOUBJOJOHBO PCTPMFUFQFSNJUUFE%0$5:1&TUSJOH Q JTBO I<MIF?N?J?LGCNN?> +05,!"VUIPST


    TIPVMEOPUVTF PCTPMFUFQFSNJUUFE%0$5:1&T Q BTUIFZBSFVOOFDFTTBSJMZMPOH

       !F?G?HNM

    5IFSFBSFИWFEJЗFSFOULJOETPG ?F?G?HNM WPJEFMFNFOUT Q SBXUFYUFMFNFOUT Q 3$%"5"FMFNFOUT Q GPSFJHO


    FMFNFOUT Q BOE OPSNBMFMFNFOUT Q 

    2HB=>E>F>GML
    BSFB Q CBTF Q CS Q DPM Q DPNNBOE Q FNCFE Q IS Q JNH Q JOQVU Q LFZHFO Q MJOL Q NFUB Q
    QBSBN Q TPVSDF Q XCS Q

    .:PM>QM>E>F>GML
    TDSJQU Q TUZMF Q

    . 0>E>F>GML
    UFYUBSFB Q UJUMF Q

    "HK>B@G>E>F>GML
    &MFNFOUTGSPNUIF .BUI.-OBNFTQBDF Q BOEUIF 47(OBNFTQBDF Q 

    *HKF:E>E>F>GML
    "MMPUIFSBMMPXFE )5.-FMFNFOUT Q BSFOPSNBMFMFNFOUT

    
    0;AM BSFVTFEUPEFMJNJUUIFTUBSUBOEFOEPGFMFNFOUTJOUIFNBSLVQ 3BXUFYU Q 3$%"5" Q BOE OPSNBM Q
    FMFNFOUTIBWFB TUBSUUBH Q UPJOEJDBUFXIFSFUIFZCFHJO BOEBO FOEUBH Q UPJOEJDBUFXIFSFUIFZFOE5IFTUBSU
    BOEFOEUBHTPGDFSUBJO OPSNBMFMFNFOUT Q DBOCF PNJUUFE Q BTEFTDSJCFEMBUFS5IPTFUIBUDBOOPUCFPNJUUFENVTU
    OPUCFPNJUUFE 7PJEFMFNFOUT Q POMZIBWFBTUBSUUBHFOEUBHTNVTUOPUCFTQFDJИFEGPS WPJEFMFNFOUT Q  'PSFJHO
    FMFNFOUT Q NVTUFJUIFSIBWFBTUBSUUBHBOEBOFOEUBH PSBTUBSUUBHUIBUJTNBSLFEBTTFMGDMPTJOH JOXIJDIDBTF
    UIFZNVTUOPUIBWFBOFOEUBH

    5IFDPOUFOUTPGUIFFMFNFOUNVTUCFQMBDFECFUXFFOKVTUBGUFSUIFTUBSUUBH XIJDI NJHIUCFJNQMJFE JODFSUBJO


    DBTFT Q
    BOEKVTUCFGPSFUIFFOEUBH XIJDIBHBJO NJHIUCFJNQMJFEJODFSUBJODBTFT Q
    5IFFYBDUBMMPXFEDPOUFOUT
    PGFBDIJOEJWJEVBMFMFNFOUEFQFOETPOUIFDPOUFOUNPEFMPGUIBUFMFNFOU BTEFTDSJCFEFBSMJFSJOUIJTTQFDJИDBUJPO
    &MFNFOUTNVTUOPUDPOUBJODPOUFOUUIBUUIFJSDPOUFOUNPEFMEJTBMMPXT*OBEEJUJPOUPUIFSFTUSJDUJPOTQMBDFEPOUIF
    DPOUFOUTCZUIPTFDPOUFOUNPEFMT IPXFWFS UIFИWFUZQFTPGFMFNFOUTIBWFBEEJUJPOBM BH=C02C82 SFRVJSFNFOUT

    7PJEFMFNFOUT Q DBOUIBWFBOZDPOUFOUT TJODFUIFSFTOPFOEUBH OPDPOUFOUDBOCFQVUCFUXFFOUIFTUBSUUBHBOE


    UIFFOEUBH
    

    3BXUFYUFMFNFOUT Q DBOIBWF UFYU Q UIPVHIJUIBT SFTUSJDUJPOT Q EFTDSJCFECFMPX

    3$%"5"FMFNFOUT Q DBOIBWF UFYU Q BOE DIBSBDUFSSFGFSFODFT Q CVUUIFUFYUNVTUOPUDPOUBJOBO BNCJHVPVT
    BNQFSTBOE Q 5IFSFBSFBMTP GVSUIFSSFTUSJDUJPOT Q EFTDSJCFECFMPX

    'PSFJHOFMFNFOUT Q XIPTFTUBSUUBHJTNBSLFEBTTFMGDMPTJOHDBOUIBWFBOZDPOUFOUT TJODF BHBJO BTUIFSFTOPFOE


    UBH OPDPOUFOUDBOCFQVUCFUXFFOUIFTUBSUUBHBOEUIFFOEUBH
     'PSFJHOFMFNFOUT Q XIPTFTUBSUUBHJT =>C NBSLFE
    BTTFMGDMPTJOHDBOIBWF UFYU Q DIBSBDUFSSFGFSFODFT Q $%"5"TFDUJPOT Q PUIFS FMFNFOUT Q BOE DPNNFOUT Q
    CVUUIFUFYUNVTUOPUDPOUBJOUIFDIBSBDUFS6 $-&445)"/4*(/ 
    PSBO BNCJHVPVTBNQFSTBOE Q 

    0A>$0)(LRGM:Q=H>LGHMLNIIHKMG:F>LI:<>=><E:K:MBHGL >O>GBG ?HK>B@G>E>F>GML I

    "HKBGLM:G<> <HGLB=>KMA>?HEEHPBG@$0)(?K:@F>GM

    I
    LO@
    F>M:=:M:
     MABLBLBGO:EB= 
    <=KEB<>GL>QFEGL<=KAMMIPPP >Q:FIE> <HF<=KF>M:=:M:G:F>+(2
    F>M:=:M:
    LO@
    I

    0A>BGG>KFHLM>E>F>GM <=KEB<>GL> BL:<MN:EERBGMA>/2#G:F>LI:<> :LMA>QFEGL<=K


    :MMKB;NM>A:LGH>Z><MNGEBD>BG4)( %G?:<M :LMA><HFF>GMBGMA>?K:@F>GM:;HO>L:RL MA>
    ?K:@F>GMBL:<MN:EERGHG
    <HG?HKFBG@ 0ABLBL;><:NL>MA>/2#LI><B[<:MBHG=H>LGHM=>[G>:GR
    >E>F>GML<:EE>=<=KEB<>GL>BGMA>/2#G:F>LI:<>

    /PSNBMFMFNFOUT Q DBOIBWF UFYU Q DIBSBDUFSSFGFSFODFT Q PUIFS FMFNFOUT Q BOE DPNNFOUT Q CVUUIFUFYU
    NVTUOPUDPOUBJOUIFDIBSBDUFS6 $-&445)"/4*(/ 
    PSBO BNCJHVPVTBNQFSTBOE Q 4PNF OPSNBM
    FMFNFOUT Q BMTPIBWF ZFUNPSFSFTUSJDUJPOT Q POXIBUDPOUFOUUIFZBSFBMMPXFEUPIPME CFZPOEUIFSFTUSJDUJPOT
    JNQPTFECZUIFDPOUFOUNPEFMBOEUIPTFEFTDSJCFEJOUIJTQBSBHSBQI5IPTFSFTUSJDUJPOTBSFEFTDSJCFECFMPX

    5BHTDPOUBJOB N;AH;G? HJWJOHUIFFMFNFOUTOBNF)5.-FMFNFOUTBMMIBWFOBNFTUIBUPOMZVTFDIBSBDUFSTJOUIF


    SBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    6 -"5*/4."---&55&3"UP6 "-"5*/4."--
    -&55&3; BOE6 -"5*/$"1*5"--&55&3"UP6 "-"5*/$"1*5"--&55&3;*OUIF)5.-TZOUBY UBHOBNFT
    FWFOUIPTFGPS GPSFJHOFMFNFOUT Q NBZCFXSJUUFOXJUIBOZNJYPGMPXFSBOEVQQFSDBTFMFUUFSTUIBU XIFODPOWFSUFE
    UPBMMMPXFSDBTF NBUDIFTUIFFMFNFOUTUBHOBNFUBHOBNFTBSFDBTFJOTFOTJUJWF

        /N;LNN;AM

    /N;LNN;AM NVTUIBWFUIFGPMMPXJOHGPSNBU

     5IFИSTUDIBSBDUFSPGBTUBSUUBHNVTUCFB6 $-&445)"/4*(/DIBSBDUFS 
    

     5IFOFYUGFXDIBSBDUFSTPGBTUBSUUBHNVTUCFUIFFMFNFOUT UBHOBNF Q 

     *GUIFSFBSFUPCFBOZBUUSJCVUFTJOUIFOFYUTUFQ UIFSFNVTUИSTUCFPOFPSNPSF TQBDFDIBSBDUFST Q 

     5IFO UIFTUBSUUBHNBZIBWFBOVNCFSPGBUUSJCVUFT UIF TZOUBYGPSXIJDI Q JTEFTDSJCFECFMPX"UUSJCVUFT


    NBZCFTFQBSBUFEGSPNFBDIPUIFSCZPOFPSNPSF TQBDFDIBSBDUFST Q 

    
     "GUFSUIFBUUSJCVUFT PSBGUFSUIF UBHOBNF Q JGUIFSFBSFOPBUUSJCVUFT UIFSFNBZCFPOFPSNPSF TQBDF
    DIBSBDUFST Q  4PNFBUUSJCVUFTBSFSFRVJSFEUPCFGPMMPXFECZBTQBDF4FFUIF BUUSJCVUFTTFDUJPO Q CFMPX

     5IFO JGUIFFMFNFOUJTPOFPGUIF WPJEFMFNFOUT Q PSJGUIFFMFNFOUJTB GPSFJHOFMFNFOU Q UIFOUIFSF


    NBZCFBTJOHMF6 '40-*%64DIBSBDUFS 
    5IJTDIBSBDUFSIBTOPFЗFDUPO WPJEFMFNFOUT Q CVUPO
    GPSFJHOFMFNFOUT Q JUNBSLTUIFTUBSUUBHBTTFMGDMPTJOH

     'JOBMMZ TUBSUUBHTNVTUCFDMPTFECZB6 &(3&"5&35)"/4*(/DIBSBDUFS 


    

        !H>N;AM

    !H>N;AM NVTUIBWFUIFGPMMPXJOHGPSNBU

     5IFИSTUDIBSBDUFSPGBOFOEUBHNVTUCFB6 $-&445)"/4*(/DIBSBDUFS 
    

     5IFTFDPOEDIBSBDUFSPGBOFOEUBHNVTUCFB6 '40-*%64DIBSBDUFS 
    

     5IFOFYUGFXDIBSBDUFSTPGBOFOEUBHNVTUCFUIFFMFNFOUT UBHOBNF Q 

     "GUFSUIFUBHOBNF UIFSFNBZCFPOFPSNPSF TQBDFDIBSBDUFST Q 

     'JOBMMZ FOEUBHTNVTUCFDMPTFECZB6 &(3&"5&35)"/4*(/DIBSBDUFS 


    

        NNLC<ON?M

    NNLC<ON?M GPSBOFMFNFOUBSFFYQSFTTFEJOTJEFUIFFMFNFOUTTUBSUUBH

    "UUSJCVUFTIBWFBOBNFBOEBWBMVF NNLC<ON?H;G?M NVTUDPOTJTUPGPOFPSNPSFDIBSBDUFSTPUIFSUIBOUIF TQBDF


    DIBSBDUFST Q 6 /6-- 6 2605"5*0/."3, 
    6 "1045301)& 
    6 &(3&"5&35)"/4*(/
    
    6 '40-*%64 
    BOE6 %&26"-44*(/ 
    DIBSBDUFST UIFDPOUSPMDIBSBDUFST BOEBOZDIBSBDUFSTUIBU
    BSFOPUEFИOFECZ6OJDPEF*OUIF)5.-TZOUBY BUUSJCVUFOBNFT FWFOUIPTFGPS GPSFJHOFMFNFOUT Q NBZCFXSJUUFO
    XJUIBOZNJYPGMPXFSBOEVQQFSDBTFMFUUFSTUIBUBSFBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFBUUSJCVUFTOBNF

    NNLC<ON?P;FO?M BSFBNJYUVSFPG UFYU Q BOE DIBSBDUFSSFGFSFODFT Q FYDFQUXJUIUIFBEEJUJPOBMSFTUSJDUJPOUIBUUIF


    UFYUDBOOPUDPOUBJOBO BNCJHVPVTBNQFSTBOE Q 

    "UUSJCVUFTDBOCFTQFDJИFEJOGPVSEJЗFSFOUXBZT

    !GJNS;NNLC<ON?MSHN;R
    +VTUUIF BUUSJCVUFOBNF Q 5IFWBMVFJTJNQMJDJUMZUIFFNQUZTUSJOH

    *OUIFGPMMPXJOHFYBNQMF UIF EJTBCMFE Q BUUSJCVUFJTHJWFOXJUIUIFFNQUZBUUSJCVUFTZOUBY

    JOQVU ?DN<=G@?
    *GBOBUUSJCVUFVTJOHUIFFNQUZBUUSJCVUFTZOUBYJTUPCFGPMMPXFECZBOPUIFSBUUSJCVUF UIFOUIFSFNVTUCFB
    TQBDFDIBSBDUFS Q TFQBSBUJOHUIFUXP

    1HKOIN?>;NNLC<ON?P;FO?MSHN;R
    5IF BUUSJCVUFOBNF Q GPMMPXFECZ[FSPPSNPSF TQBDFDIBSBDUFST Q GPMMPXFECZBTJOHMF6 %&26"-44*(/
    DIBSBDUFS GPMMPXFECZ[FSPPSNPSF TQBDFDIBSBDUFST Q GPMMPXFECZUIF BUUSJCVUFWBMVF Q XIJDI JOBEEJUJPOUP
    UIFSFRVJSFNFOUTHJWFOBCPWFGPSBUUSJCVUFWBMVFT NVTUOPUDPOUBJOBOZMJUFSBM TQBDFDIBSBDUFST Q BOZ6 
    2605"5*0/."3,DIBSBDUFST 
    6 "1045301)&DIBSBDUFST 
    6 %&26"-44*(/DIBSBDUFST 

    6 $-&445)"/4*(/DIBSBDUFST 
    6 &(3&"5&35)"/4*(/DIBSBDUFST 
    PS6 (3"7&
    "$$&/5DIBSBDUFST A
    BOENVTUOPUCFUIFFNQUZTUSJOH

    *OUIFGPMMPXJOHFYBNQMF UIF WBMVF Q BUUSJCVUFJTHJWFOXJUIUIFVORVPUFEBUUSJCVUFWBMVFTZOUBY

    JOQVU Q<GP@T@N
    *GBOBUUSJCVUFVTJOHUIFVORVPUFEBUUSJCVUFTZOUBYJTUPCFGPMMPXFECZBOPUIFSBUUSJCVUFPSCZUIFPQUJPOBM
    6 '40-*%64DIBSBDUFS 
    BMMPXFEJOTUFQPGUIF TUBSUUBH Q TZOUBYBCPWF UIFOUIFSFNVTUCFB TQBDF
    DIBSBDUFS Q TFQBSBUJOHUIFUXP

    /CHAF? KOIN?>;NNLC<ON?P;FO?MSHN;R
    5IF BUUSJCVUFOBNF Q GPMMPXFECZ[FSPPSNPSF TQBDFDIBSBDUFST Q GPMMPXFECZBTJOHMF6 %&26"-44*(/
    DIBSBDUFS GPMMPXFECZ[FSPPSNPSF TQBDFDIBSBDUFST Q GPMMPXFECZBTJOHMF6 "1045301)&DIBSBDUFS 

    GPMMPXFECZUIF BUUSJCVUFWBMVF Q XIJDI JOBEEJUJPOUPUIFSFRVJSFNFOUTHJWFOBCPWFGPSBUUSJCVUFWBMVFT NVTU

    
    OPUDPOUBJOBOZMJUFSBM6 "1045301)&DIBSBDUFST 
    BOEИOBMMZGPMMPXFECZBTFDPOETJOHMF6 
    "1045301)&DIBSBDUFS 
    

    *OUIFGPMMPXJOHFYBNQMF UIF UZQF Q BUUSJCVUFJTHJWFOXJUIUIFTJOHMFRVPUFEBUUSJCVUFWBMVFTZOUBY

    JOQVU OTK@>C@>F=JS
    *GBOBUUSJCVUFVTJOHUIFTJOHMFRVPUFEBUUSJCVUFTZOUBYJTUPCFGPMMPXFECZBOPUIFSBUUSJCVUF UIFOUIFSFNVTUCF
    B TQBDFDIBSBDUFS Q TFQBSBUJOHUIFUXP

    IO<F? KOIN?>;NNLC<ON?P;FO?MSHN;R
    5IF BUUSJCVUFOBNF Q GPMMPXFECZ[FSPPSNPSF TQBDFDIBSBDUFST Q GPMMPXFECZBTJOHMF6 %&26"-44*(/
    DIBSBDUFS GPMMPXFECZ[FSPPSNPSF TQBDFDIBSBDUFST Q GPMMPXFECZBTJOHMF6 2605"5*0/."3,
    DIBSBDUFS 
    GPMMPXFECZUIF BUUSJCVUFWBMVF Q XIJDI JOBEEJUJPOUPUIFSFRVJSFNFOUTHJWFOBCPWFGPSBUUSJCVUF
    WBMVFT NVTUOPUDPOUBJOBOZMJUFSBM6 2605"5*0/."3,DIBSBDUFST 
    BOEИOBMMZGPMMPXFECZBTFDPOE
    TJOHMF6 2605"5*0/."3,DIBSBDUFS 
    

    *OUIFGPMMPXJOHFYBNQMF UIF OBNF Q BUUSJCVUFJTHJWFOXJUIUIFEPVCMFRVPUFEBUUSJCVUFWBMVFTZOUBY

    JOQVU I<H@=@@QDG
    *GBOBUUSJCVUFVTJOHUIFEPVCMFRVPUFEBUUSJCVUFTZOUBYJTUPCFGPMMPXFECZBOPUIFSBUUSJCVUF UIFOUIFSFNVTUCF
    B TQBDFDIBSBDUFS Q TFQBSBUJOHUIFUXP

    5IFSFNVTUOFWFSCFUXPPSNPSFBUUSJCVUFTPOUIFTBNFTUBSUUBHXIPTFOBNFTBSFBO "4$**DBTFJOTFOTJUJWF Q


    NBUDIGPSFBDIPUIFS

    8IFOB GPSFJHOFMFNFOU Q IBTPOFPGUIFOBNFTQBDFEBUUSJCVUFTHJWFOCZUIFMPDBMOBNFBOEOBNFTQBDFPGUIFИSTU


    BOETFDPOEDFMMTPGBSPXGSPNUIFGPMMPXJOHUBCMF JUNVTUCFXSJUUFOVTJOHUIFOBNFHJWFOCZUIFUIJSEDFMMGSPNUIF
    TBNFSPX

    (I=;FH;G? *;G?MJ;=? NNLC<ON?H;G?

    BDUVBUF 9-JOLOBNFTQBDF Q YMJOLBDUVBUF


    BSDSPMF 9-JOLOBNFTQBDF Q YMJOLBSDSPMF
    Q
    ISFG 9-JOLOBNFTQBDF YMJOLISFG
    Q
    SPMF 9-JOLOBNFTQBDF YMJOLSPMF
    TIPX 9-JOLOBNFTQBDF Q YMJOLTIPX
    UJUMF 9-JOLOBNFTQBDF Q YMJOLUJUMF
    UZQF 9-JOLOBNFTQBDF Q YMJOLUZQF
    CBTF 9.-OBNFTQBDF Q YNMCBTF
    MBOH 9.-OBNFTQBDF Q YNMMBOH
    Q
    TQBDF 9.-OBNFTQBDF YNMTQBDF
    YNMOT 9.-/4OBNFTQBDF Q YNMOT
    YMJOL 9.-/4OBNFTQBDF Q YNMOTYMJOL

    /PPUIFSOBNFTQBDFEBUUSJCVUFDBOCFFYQSFTTFEJO UIF)5.-TZOUBY Q 

        +JNCIH;FN;AM

    $FSUBJOUBHTDBOCF IGCNN?>

    *HM> +FBMMBG@:G>E>F>GML LM:KMM:@ I =H>LGHMF>:GMA>>E>F>GMBLGHMIK>L>GMBMBLBFIEB>=


    ;NMBMBLLMBEEMA>K> G$0)(=H<NF>GM:EP:RLA:L:KHHM AMFE I >E>F>GM >O>GB?MA>LMKBG@ AMFE
    =H>LGM:II>:K:GRPA>K>BGMA>F:KDNI

    "O IUNM Q FMFNFOUT TUBSUUBH Q NBZCFPNJUUFEJGUIFИSTUUIJOHJOTJEFUIF IUNM Q FMFNFOUJTOPUB DPNNFOU Q 

    "O IUNM Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF IUNM Q FMFNFOUJTOPUJNNFEJBUFMZGPMMPXFECZB
    DPNNFOU Q 

    " IFBE Q FMFNFOUT TUBSUUBH Q NBZCFPNJUUFEJGUIFFMFNFOUJTFNQUZ PSJGUIFИSTUUIJOHJOTJEFUIF IFBE Q
    FMFNFOUJTBOFMFNFOU

    " IFBE Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF IFBE Q FMFNFOUJTOPUJNNFEJBUFMZGPMMPXFECZB TQBDF
    DIBSBDUFS Q PSB DPNNFOU Q 

    
    " CPEZ Q FMFNFOUT TUBSUUBH Q NBZCFPNJUUFEJGUIFFMFNFOUJTFNQUZ PSJGUIFИSTUUIJOHJOTJEFUIF CPEZ Q
    FMFNFOUJTOPUB TQBDFDIBSBDUFS Q PSB DPNNFOU Q FYDFQUJGUIFИSTUUIJOHJOTJEFUIF CPEZ Q FMFNFOUJTB
    TDSJQU Q PS TUZMF Q FMFNFOU

    " CPEZ Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF CPEZ Q FMFNFOUJTOPUJNNFEJBUFMZGPMMPXFECZB DPNNFOU Q 

    " MJ Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF MJ Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZBOPUIFS MJ Q FMFNFOU
    PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOU

    " EU Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF EU Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZBOPUIFS EU Q FMFNFOU
    PSB EE Q FMFNFOU

    " EE Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF EE Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZBOPUIFS EE Q FMFNFOU
    PSB EU Q FMFNFOU PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOU

    " Q Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF Q Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZBO BEESFTT Q
    BSUJDMF Q BTJEF Q CMPDLRVPUF Q EJS Q EJW Q EM Q GJFMETFU Q GPPUFS Q GPSN Q I Q I Q I Q
    I Q I Q I Q IFBEFS Q IHSPVQ Q IS Q NFOV Q OBW Q PM Q Q Q QSF Q TFDUJPO Q UBCMF Q PS
    VM Q FMFNFOU PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOUBOEUIFQBSFOUFMFNFOUJTOPUBO B Q FMFNFOU

    "O SU Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF SU Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZBO SU Q PS SQ Q
    FMFNFOU PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOU

    "O SQ Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF SQ Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZBO SU Q PS SQ Q
    FMFNFOU PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOU

    "O PQUHSPVQ Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF PQUHSPVQ Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZBOPUIFS
    PQUHSPVQ Q FMFNFOU PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOU

    "O PQUJPO Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF PQUJPO Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZBOPUIFS
    PQUJPO Q FMFNFOU PSJGJUJTJNNFEJBUFMZGPMMPXFECZBO PQUHSPVQ Q FMFNFOU PSJGUIFSFJTOPNPSFDPOUFOUJOUIF
    QBSFOUFMFNFOU

    " DPMHSPVQ Q FMFNFOUT TUBSUUBH Q NBZCFPNJUUFEJGUIFИSTUUIJOHJOTJEFUIF DPMHSPVQ Q FMFNFOUJTB DPM Q
    FMFNFOU BOEJGUIFFMFNFOUJTOPUJNNFEJBUFMZQSFDFEFECZBOPUIFS DPMHSPVQ Q FMFNFOUXIPTF FOEUBH Q IBTCFFO
    PNJUUFE *UDBOUCFPNJUUFEJGUIFFMFNFOUJTFNQUZ

    " DPMHSPVQ Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF DPMHSPVQ Q FMFNFOUJTOPUJNNFEJBUFMZGPMMPXFECZB
    TQBDFDIBSBDUFS Q PSB DPNNFOU Q 

    " UIFBE Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF UIFBE Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZB UCPEZ Q PS
    UGPPU Q FMFNFOU

    " UCPEZ Q FMFNFOUT TUBSUUBH Q NBZCFPNJUUFEJGUIFИSTUUIJOHJOTJEFUIF UCPEZ Q FMFNFOUJTB US Q FMFNFOU
    BOEJGUIFFMFNFOUJTOPUJNNFEJBUFMZQSFDFEFECZB UCPEZ Q UIFBE Q PS UGPPU Q FMFNFOUXIPTF FOEUBH Q IBT
    CFFOPNJUUFE *UDBOUCFPNJUUFEJGUIFFMFNFOUJTFNQUZ

    " UCPEZ Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF UCPEZ Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZB UCPEZ Q PS
    UGPPU Q FMFNFOU PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOU

    " UGPPU Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF UGPPU Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZB UCPEZ Q
    FMFNFOU PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOU

    " US Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF US Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZBOPUIFS US Q FMFNFOU
    PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOU

    " UE Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF UE Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZB UE Q PS UI Q
    FMFNFOU PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOU

    " UI Q FMFNFOUT FOEUBH Q NBZCFPNJUUFEJGUIF UI Q FMFNFOUJTJNNFEJBUFMZGPMMPXFECZB UE Q PS UI Q
    FMFNFOU PSJGUIFSFJTOPNPSFDPOUFOUJOUIFQBSFOUFMFNFOU

    $IQ?P?L B TUBSUUBH Q NVTUOFWFSCFPNJUUFEJGJUIBTBOZBUUSJCVUFT

        .?MNLC=NCIHMIH=IHN?HNGI>?FM

    'PSIJTUPSJDBMSFBTPOT DFSUBJOFMFNFOUTIBWFFYUSBSFTUSJDUJPOTCFZPOEFWFOUIFSFTUSJDUJPOTHJWFOCZUIFJSDPOUFOU
    NPEFM

    
    " UBCMF Q FMFNFOUNVTUOPUDPOUBJO US Q FMFNFOUT FWFOUIPVHIUIFTFFMFNFOUTBSFUFDIOJDBMMZBMMPXFEJOTJEF
    UBCMF Q FMFNFOUTBDDPSEJOHUPUIFDPOUFOUNPEFMTEFTDSJCFEJOUIJTTQFDJИDBUJPO *GB US Q FMFNFOUJTQVUJOTJEFB
    UBCMF Q JOUIFNBSLVQ JUXJMMJOGBDUJNQMZB UCPEZ Q TUBSUUBHCFGPSFJU

    "TJOHMF OFXMJOF Q NBZCFQMBDFEJNNFEJBUFMZBGUFSUIF TUBSUUBH Q PG QSF Q BOE UFYUBSFB Q FMFNFOUT5IJTEPFT
    OPUBЗFDUUIFQSPDFTTJOHPGUIFFMFNFOU5IFPUIFSXJTFPQUJPOBM OFXMJOF Q <DBC CFJODMVEFEJGUIFFMFNFOUT
    DPOUFOUTUIFNTFMWFTTUBSUXJUIB OFXMJOF Q CFDBVTFPUIFSXJTFUIFMFBEJOHOFXMJOFJOUIFDPOUFOUTXPVMECFUSFBUFE
    MJLFUIFPQUJPOBMOFXMJOF BOEJHOPSFE
    

    5IFGPMMPXJOHUXP QSF Q CMPDLTBSFFRVJWBMFOU

    QSF)FMMPQSF
    QSF
    )FMMPQSF

        .?MNLC=NCIHMIHNB?=IHN?HNMI@L;QN?RN;H>. 0?F?G?HNM

    5IFUFYUJO SBXUFYU Q BOE 3$%"5"FMFNFOUT Q NVTUOPUDPOUBJOBOZPDDVSSFODFTPGUIFTUSJOH 6 $-&44


    5)"/4*(/ 6 '40-*%64
    GPMMPXFECZDIBSBDUFSTUIBUDBTFJOTFOTJUJWFMZNBUDIUIFUBHOBNFPGUIFFMFNFOU
    GPMMPXFECZPOFPG6 $)"3"$5&35"#6-"5*0/ 6 "-*/&'&&% -'
    6 $'03.'&&% ''
    6 %
    $"33*"(&3&563/ $3
    6 41"$& 6 &(3&"5&35)"/4*(/ 
    PS6 '40-*%64 
    

       0?RN

    0?RN JTBMMPXFEJOTJEFFMFNFOUT BUUSJCVUFT BOEDPNNFOUT5FYUNVTUDPOTJTUPG6OJDPEFDIBSBDUFST5FYUNVTUOPU


    DPOUBJO6 DIBSBDUFST5FYUNVTUOPUDPOUBJOQFSNBOFOUMZVOEFИOFE6OJDPEFDIBSBDUFST OPODIBSBDUFST
    5FYU
    NVTUOPUDPOUBJODPOUSPMDIBSBDUFSTPUIFSUIBO TQBDFDIBSBDUFST Q &YUSBDPOTUSBJOUTBSFQMBDFEPOXIBUJTBOEXIBU
    JTOPUBMMPXFEJOUFYUCBTFEPOXIFSFUIFUFYUJTUPCFQVU BTEFTDSJCFEJOUIFPUIFSTFDUJPOT

        *?QFCH?M

    *?QFCH?M JO)5.-NBZCFSFQSFTFOUFEFJUIFSBT6 %$"33*"(&3&563/ $3


    DIBSBDUFST 6 "-*/&'&&% -'

    DIBSBDUFST PSQBJSTPG6 %$"33*"(&3&563/ $3


    6 "-*/&'&&% -'
    DIBSBDUFSTJOUIBUPSEFS

    8IFSF DIBSBDUFSSFGFSFODFT Q BSFBMMPXFE BDIBSBDUFSSFGFSFODFPGB6 "-*/&'&&% -'


    DIBSBDUFS CVUOPUB
    6 %$"33*"(&3&563/ $3
    DIBSBDUFS
    BMTPSFQSFTFOUTB OFXMJOF Q 

       B;L;=N?LL?@?L?H=?M

    *ODFSUBJODBTFTEFTDSJCFEJOPUIFSTFDUJPOT UFYU Q NBZCFNJYFEXJUI =B;L;=N?LL?@?L?H=?M5IFTFDBOCFVTFEUP


    FTDBQFDIBSBDUFSTUIBUDPVMEOUPUIFSXJTFMFHBMMZCFJODMVEFEJO UFYU Q 

    $IBSBDUFSSFGFSFODFTNVTUTUBSUXJUIB6 ".1&34"/%DIBSBDUFS 
    'PMMPXJOHUIJT UIFSFBSFUISFFQPTTJCMF
    LJOETPGDIBSBDUFSSFGFSFODFT

    *;G?>=B;L;=N?LL?@?L?H=?M
    5IFBNQFSTBOENVTUCFGPMMPXFECZPOFPGUIFOBNFTHJWFOJOUIF OBNFEDIBSBDUFSSFGFSFODFT Q TFDUJPO
    VTJOHUIFTBNFDBTF 5IFOBNFNVTUCFPOFUIBUJTUFSNJOBUFECZB6 #4&.*$0-0/DIBSBDUFS 
    

    ?=CG;FHOG?LC==B;L;=N?LL?@?L?H=?
    5IFBNQFSTBOENVTUCFGPMMPXFECZB6 /6.#&34*(/DIBSBDUFS 
    GPMMPXFECZPOFPSNPSFEJHJUTJO
    UIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    SFQSFTFOUJOHBCBTFUFOJOUFHFSUIBUDPSSFTQPOET
    UPB6OJDPEFDPEFQPJOUUIBUJTBMMPXFEBDDPSEJOHUPUIFEFИOJUJPOCFMPX5IFEJHJUTNVTUUIFOCFGPMMPXFECZB
    6 #4&.*$0-0/DIBSBDUFS 
    

    $?R;>?=CG;FHOG?LC==B;L;=N?LL?@?L?H=?
    5IFBNQFSTBOENVTUCFGPMMPXFECZB6 /6.#&34*(/DIBSBDUFS 
    XIJDINVTUCFGPMMPXFECZFJUIFSB
    6 -"5*/4."---&55&39DIBSBDUFS Y
    PSB6 -"5*/$"1*5"--&55&39DIBSBDUFS 9
    XIJDINVTU
    UIFOCFGPMMPXFECZPOFPSNPSFEJHJUTJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    6 
    -"5*/4."---&55&3"UP6 -"5*/4."---&55&3' BOE6 -"5*/$"1*5"--&55&3"UP6 
    -"5*/$"1*5"--&55&3' SFQSFTFOUJOHBCBTFTJYUFFOJOUFHFSUIBUDPSSFTQPOETUPB6OJDPEFDPEFQPJOUUIBUJT
    BMMPXFEBDDPSEJOHUPUIFEFИOJUJPOCFMPX5IFEJHJUTNVTUUIFOCFGPMMPXFECZB6 #4&.*$0-0/DIBSBDUFS
    
    

    
    5IFOVNFSJDDIBSBDUFSSFGFSFODFGPSNTEFTDSJCFEBCPWFBSFBMMPXFEUPSFGFSFODFBOZ6OJDPEFDPEFQPJOUPUIFSUIBO
    6  6 % QFSNBOFOUMZVOEFИOFE6OJDPEFDIBSBDUFST OPODIBSBDUFST
    BOEDPOUSPMDIBSBDUFSTPUIFSUIBO
    TQBDFDIBSBDUFST Q 

    "O ;G<CAOIOM;GJ?LM;H> JTB6 ".1&34"/%DIBSBDUFS 


    UIBUJTGPMMPXFECZPOFPSNPSFDIBSBDUFSTJOUIF
    SBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    6 -"5*/4."---&55&3"UP6 "-"5*/4."--
    -&55&3; BOE6 -"5*/$"1*5"--&55&3"UP6 "-"5*/$"1*5"--&55&3; GPMMPXFECZB6 #
    4&.*$0-0/DIBSBDUFS 
    XIFSFUIFTFDIBSBDUFSTEPOPUNBUDIBOZPGUIFOBNFTHJWFOJOUIF OBNFEDIBSBDUFS
    SFGFSFODFT Q TFDUJPO

        0M?=NCIHM

     0M?=NCIHM NVTUTUBSUXJUIUIFDIBSBDUFSTFRVFODF6 $-&445)"/4*(/ 6 &9$-"."5*0/."3,


    6 #-&'5426"3&#3"$,&5 6 -"5*/$"1*5"--&55&3$ 6 -"5*/$"1*5"--&55&3% 6 -"5*/
    $"1*5"--&55&3" 6 -"5*/$"1*5"--&55&35 6 -"5*/$"1*5"--&55&3" 6 #-&'5426"3&
    #3"$,&5 <$%"5"<
    'PMMPXJOHUIJTTFRVFODF UIF$%"5"TFDUJPONBZIBWF UFYU Q XJUIUIFBEEJUJPOBMSFTUSJDUJPO
    UIBUUIFUFYUNVTUOPUDPOUBJOUIFUISFFDIBSBDUFSTFRVFODF6 %3*()5426"3&#3"$,&5 6 %3*()5
    426"3&#3"$,&5 6 &(3&"5&35)"/4*(/ >>
    'JOBMMZ UIF$%"5"TFDUJPONVTUCFFOEFECZUIFUISFF
    DIBSBDUFSTFRVFODF6 %3*()5426"3&#3"$,&5 6 %3*()5426"3&#3"$,&5 6 &(3&"5&35)"/
    4*(/ >>
    

    $%"5"TFDUJPOTDBOPOMZCFVTFEJOGPSFJHODPOUFOU .BUI.-PS47(
    *OUIJTFYBNQMF B$%"5"TFDUJPOJTVTFE
    UPFTDBQFUIFDPOUFOUTPGBO NT FMFNFOU

    Q:PVDBOBEEBTUSJOHUPBOVNCFS CVUUIJTTUSJOHJGJFTUIFOVNCFSQ
    NBUI
    NT<$%"5"<YZ>>NT
    NP NP
    NONO
    NPNP
    NT<$%"5"<YZ>>NT
    NBUI

       IGG?HNM

    IGG?HNM NVTUTUBSUXJUIUIFGPVSDIBSBDUFSTFRVFODF6 $-&445)"/4*(/ 6 &9$-"."5*0/."3,


    6 %):1)&/.*/64 6 %):1)&/.*/64 
    'PMMPXJOHUIJTTFRVFODF UIFDPNNFOUNBZIBWF UFYU Q
    XJUIUIFBEEJUJPOBMSFTUSJDUJPOUIBUUIFUFYUNVTUOPUTUBSUXJUIBTJOHMF6 &(3&"5&35)"/4*(/DIBSBDUFS 

    OPSTUBSUXJUIB6 %):1)&/.*/64DIBSBDUFS 
    GPMMPXFECZB6 &(3&"5&35)"/4*(/ 
    DIBSBDUFS OPS
    DPOUBJOUXPDPOTFDVUJWF6 %):1)&/.*/64DIBSBDUFST 
    OPSFOEXJUIB6 %):1)&/.*/64DIBSBDUFS
    
    'JOBMMZ UIFDPNNFOUNVTUCFFOEFECZUIFUISFFDIBSBDUFSTFRVFODF6 %):1)&/.*/64 6 %):1)&/
    .*/64 6 &(3&"5&35)"/4*(/ 
    

      ,;LMCHA$0)(>I=OG?HNM

    *78BB42C8>=>=;H0??;84BC>DB4A064=CB30C0<8=8=6C>>;B0=32>=5>A<0=242742:4AB

    *HM> 0A>KNE>L?HKI:KLBG@4)(=H<NF>GMLBGMH +)MK>>L:K><HO>K>=;RMA>G>QML><MBHG


    >GMBME>=0A>4$0)(LRGM:Q I 

    'PS )5.-EPDVNFOUT Q VTFSBHFOUTNVTUVTFUIFQBSTJOHSVMFTEFTDSJCFEJOUIJTTFDUJPOUPHFOFSBUFUIF%0.USFFT


    5PHFUIFS UIFTFSVMFTEFИOFXIBUJTSFGFSSFEUPBTUIF $0)(J;LM?L

    3ABE>MA>$0)(LRGM:Q=>L<KB;>=BGMABLLI><B[<:MBHG;>:KL:<EHL>K>L>F;E:G<>MH/#)(:G=
    4)( BMBL:L>I:K:M>E:G@N:@>PBMABMLHPGI:KLBG@KNE>L

    /HF>>:KEB>KO>KLBHGLH?$0)(BGI:KMB<NE:K?KHF$0)(MH$0)(P>K>;:L>=HG/#)(:G=
    NL>=/#)(I:KLBG@KNE>L $HP>O>K ?>PB?:GRP>;;KHPL>KL>O>KBFIE>F>GM>=MKN>/#)(
    I:KLBG@?HK$0)(=H<NF>GMLMA>HGERNL>K:@>GMLMHLMKB<MERA:G=E>$0)(:L:G/#)(:IIEB<:MBHG
    A:O>ABLMHKB<:EER;>>GO:EB=:MHKL 0A>K>LNEMBG@<HG?NLBHGWPBMAO:EB=:MHKL<E:BFBG@=H<NF>GMLMH
    A:O>HG>K>IK>L>GM:MBHGPABE>PB=>ER=>IEHR>=3>;;KHPL>KLBGM>KHI>K:;ERBFIE>F>GM>=:
    =BZ>K>GMK>IK>L>GM:MBHGWA:LP:LM>==><:=>LH?IKH=N<MBOBMR 0ABLO>KLBHGH?$0)(MANLK>MNKGL
    MH:GHG
    /#)(;:LBL

    
    NMAHKLBGM>K>LM>=BGNLBG@/#)(MHHELBGMA>BK:NMAHKBG@IBI>EBG>:K>>G<HNK:@>=MHNL>4)(
    MHHEL:G=MA>4)(L>KB:EBS:MBHGH?$0)(

    5IJTTQFDJИDBUJPOEFИOFTUIFQBSTJOHSVMFTGPS)5.-EPDVNFOUT XIFUIFSUIFZBSFTZOUBDUJDBMMZDPSSFDUPSOPU$FSUBJO
    QPJOUTJOUIFQBSTJOHBMHPSJUINBSFTBJEUPCF J;LM??LLILM5IFFSSPSIBOEMJOHGPSQBSTFFSSPSTJTXFMMEFИOFEVTFS
    BHFOUTNVTUFJUIFSBDUBTEFTDSJCFECFMPXXIFOFODPVOUFSJOHTVDIQSPCMFNT PSNVTUBCPSUQSPDFTTJOHBUUIFИSTU
    FSSPSUIBUUIFZFODPVOUFSGPSXIJDIUIFZEPOPUXJTIUPBQQMZUIFSVMFTEFTDSJCFECFMPX

    $POGPSNBODFDIFDLFSTNVTUSFQPSUBUMFBTUPOFQBSTFFSSPSDPOEJUJPOUPUIFVTFSJGPOFPSNPSFQBSTFFSSPSDPOEJUJPOT
    FYJTUJOUIFEPDVNFOUBOENVTUOPUSFQPSUQBSTFFSSPSDPOEJUJPOTJGOPOFFYJTUJOUIFEPDVNFOU$POGPSNBODFDIFDLFST
    NBZSFQPSUNPSFUIBOPOFQBSTFFSSPSDPOEJUJPOJGNPSFUIBOPOFQBSTFFSSPSDPOEJUJPOFYJTUTJOUIFEPDVNFOU
    $POGPSNBODFDIFDLFSTBSFOPUSFRVJSFEUPSFDPWFSGSPNQBSTFFSSPST

    *HM> ,:KL>>KKHKL:K>HGER>KKHKLPBMAMA> LRGM:Q H?$0)( %G:==BMBHGMH<A><DBG@?HKI:KL>


    >KKHKL <HG?HKF:G<><A><D>KLPBEE:ELHO>KB?RMA:MMA>=H<NF>GMH;>RL:EEMA>HMA>K<HG?HKF:G<>
    K>JNBK>F>GML=>L<KB;>=BGMABLLI><B[<:MBHG

    'PSUIFQVSQPTFTPGDPOGPSNBODFDIFDLFST JGBSFTPVSDFJTEFUFSNJOFEUPCFJO UIF)5.-TZOUBY Q UIFOJUJTBO )5.-


    EPDVNFOU Q 

       +P?LPC?QI@NB?J;LMCHAGI>?F

    5IFJOQVUUPUIF)5.-QBSTJOHQSPDFTTDPOTJTUTPGBTUSFBNPG6OJDPEFDIBSBDUFST XIJDIJTQBTTFEUISPVHIB
    UPLFOJ[BUJPO Q TUBHFGPMMPXFECZB USFFDPOTUSVDUJPO Q TUBHF5IFPVUQVUJTB %PDVNFOU Q PCKFDU

    *HM> %FIE>F>GM:MBHGLMA:M =HGHMLNIIHKML<KBIMBG@ I =HGHMA:O>MH:<MN:EER<K>:M>: +)


    #H<NF>GM I H;C><M ;NMMA> +)MK>>BGLN<A<:L>LBLLMBEENL>=:LMA>FH=>E?HKMA>K>LMH?MA>
    LI><B[<:MBHG

    *OUIFDPNNPODBTF UIFEBUBIBOEMFECZUIFUPLFOJ[BUJPOTUBHFDPNFTGSPNUIFOFUXPSL CVU JUDBOBMTPDPNFGSPN


    TDSJQU Q FHVTJOHUIF EPDVNFOUXSJUF
    Q "1*

    
    5IFSFJTPOMZPOFTFUPGTUBUFTGPSUIFUPLFOJ[FSTUBHFBOEUIFUSFFDPOTUSVDUJPOTUBHF CVUUIFUSFFDPOTUSVDUJPOTUBHF
    JTSFFOUSBOU NFBOJOHUIBUXIJMFUIFUSFFDPOTUSVDUJPOTUBHFJTIBOEMJOHPOFUPLFO UIFUPLFOJ[FSNJHIUCFSFTVNFE
    DBVTJOHGVSUIFSUPLFOTUPCFFNJUUFEBOEQSPDFTTFECFGPSFUIFИSTUUPLFOTQSPDFTTJOHJTDPNQMFUF

    *OUIFGPMMPXJOHFYBNQMF UIFUSFFDPOTUSVDUJPOTUBHFXJMMCFDBMMFEVQPOUPIBOEMFBQTUBSUUBHUPLFOXIJMF
    IBOEMJOHUIFTDSJQUTUBSUUBHUPLFO

    
    TDSJQU
    EPDVNFOUXSJUF Q
    
    TDSJQU
    

    5PIBOEMFUIFTFDBTFT QBSTFSTIBWFB M=LCJNH?MNCHAF?P?F XIJDINVTUCFJOJUJBMMZTFUUP[FSP BOEB J;LM?LJ;OM?


    ^;A XIJDINVTUCFJOJUJBMMZTFUUPGBMTF

       0B? CHJONMNL?;G

    5IFTUSFBNPG6OJDPEFDIBSBDUFSTUIBUDPNQSJTFTUIFJOQVUUPUIFUPLFOJ[BUJPOTUBHFXJMMCFJOJUJBMMZTFFOCZUIFVTFS
    BHFOUBTBTUSFBNPGCZUFT UZQJDBMMZDPNJOHPWFSUIFOFUXPSLPSGSPNUIFMPDBMИMFTZTUFN
    5IFCZUFTFODPEFUIF
    BDUVBMDIBSBDUFSTBDDPSEJOHUPBQBSUJDVMBS 270A02C4A4=2>38=6 XIJDIUIFVTFSBHFOUNVTUVTFUPEFDPEFUIFCZUFT
    JOUPDIBSBDUFST

    
    *HM> "HK4)(=H<NF>GML MA>:E@HKBMAFNL>K:@>GMLFNLMNL>MH=>M>KFBG>MA><A:K:<M>K
    >G<H=BG@BL@BO>G;RMA>4)(LI><B[<:MBHG 0ABLL><MBHG=H>LGHM:IIERMH4)(=H<NF>GML
    74)(8 I

        ?N?LGCHCHANB?=B;L;=N?L?H=I>CHA

    *OTPNFDBTFT JUNJHIUCFJNQSBDUJDBMUPVOBNCJHVPVTMZEFUFSNJOFUIFFODPEJOHCFGPSFQBSTJOHUIFEPDVNFOU
    #FDBVTFPGUIJT UIJTTQFDJИDBUJPOQSPWJEFTGPSBUXPQBTTNFDIBOJTNXJUIBOPQUJPOBMQSFTDBO*NQMFNFOUBUJPOTBSF
    BMMPXFE BTEFTDSJCFECFMPX UPBQQMZBTJNQMJИFEQBSTJOHBMHPSJUINUPXIBUFWFSCZUFTUIFZIBWFBWBJMBCMFCFGPSF
    CFHJOOJOHUPQBSTFUIFEPDVNFOU5IFO UIFSFBMQBSTFSJTTUBSUFE VTJOHBUFOUBUJWFFODPEJOHEFSJWFEGSPNUIJTQSF
    QBSTFBOEPUIFSPVUPGCBOENFUBEBUB*G XIJMFUIFEPDVNFOUJTCFJOHMPBEFE UIFVTFSBHFOUEJTDPWFSTBOFODPEJOH
    EFDMBSBUJPOUIBUDPOЙJDUTXJUIUIJTJOGPSNBUJPO UIFOUIFQBSTFSDBOHFUSFJOWPLFEUPQFSGPSNBQBSTFPGUIFEPDVNFOU
    XJUIUIFSFBMFODPEJOH

    6TFSBHFOUTNVTUVTFUIFGPMMPXJOHBMHPSJUIN UIF ?H=I>CHAMHC_HA;FAILCNBG


    UPEFUFSNJOFUIFDIBSBDUFS
    FODPEJOHUPVTFXIFOEFDPEJOHBEPDVNFOUJOUIFИSTUQBTT5IJTBMHPSJUINUBLFTBTJOQVUBOZPVUPGCBOENFUBEBUB
    BWBJMBCMFUPUIFVTFSBHFOU FHUIF $POUFOU5ZQFNFUBEBUB Q PGUIFEPDVNFOU
    BOEBMMUIFCZUFTBWBJMBCMFTPGBS BOE
    SFUVSOTBOFODPEJOHBOEB =IH]>?H=?5IFDPOИEFODFJTFJUIFS C4=C0C8E4 24AC08= PS 8AA4;4E0=C5IFFODPEJOHVTFE
    BOEXIFUIFSUIFDPOИEFODFJOUIBUFODPEJOHJT C4=C0C8E4 PS 24AC08= JT VTFEEVSJOHUIFQBSTJOH Q UPEFUFSNJOF
    XIFUIFSUP DIBOHFUIFFODPEJOH Q *GOPFODPEJOHJTOFDFTTBSZ FHCFDBVTFUIFQBSTFSJTPQFSBUJOHPOBTUSFBNPG
    6OJDPEFDIBSBDUFSTBOEEPFTOUIBWFUPVTFBOFODPEJOHBUBMM UIFOUIF DPOИEFODF Q JT 8AA4;4E0=C

     *GUIFUSBOTQPSUMBZFSTQFDJИFTBOFODPEJOH BOEJUJTTVQQPSUFE SFUVSOUIBUFODPEJOHXJUIUIF DPOИEFODF Q


    24AC08= BOEBCPSUUIFTFTUFQT

     5IFVTFSBHFOUNBZXBJUGPSNPSFCZUFTPGUIFSFTPVSDFUPCFBWBJMBCMF FJUIFSJOUIJTTUFQPSBUBOZMBUFS
    TUFQJOUIJTBMHPSJUIN'PSJOTUBODF BVTFSBHFOUNJHIUXBJUNTPSCZUFT XIJDIFWFSDBNFИSTU*O
    HFOFSBMQSFQBSTJOHUIFTPVSDFUPИOEUIFFODPEJOHJNQSPWFTQFSGPSNBODF BTJUSFEVDFTUIFOFFEUPUISPX
    BXBZUIFEBUBTUSVDUVSFTVTFEXIFOQBSTJOHVQPOИOEJOHUIFFODPEJOHJOGPSNBUJPO)PXFWFS JGUIFVTFS
    BHFOUEFMBZTUPPMPOHUPPCUBJOEBUBUPEFUFSNJOFUIFFODPEJOH UIFOUIFDPTUPGUIFEFMBZDPVMEPVUXFJHI
    BOZQFSGPSNBODFJNQSPWFNFOUTGSPNUIFQSFQBSTF

     'PSFBDIPGUIFSPXTJOUIFGPMMPXJOHUBCMF TUBSUJOHXJUIUIFИSTUPOFBOEHPJOHEPXO JGUIFSFBSFBTNBOZPS


    NPSFCZUFTBWBJMBCMFUIBOUIFOVNCFSPGCZUFTJOUIFИSTUDPMVNO BOEUIFИSTUCZUFTPGUIFИMFNBUDIUIF
    CZUFTHJWFOJOUIFИSTUDPMVNO UIFOSFUVSOUIFFODPEJOHHJWFOJOUIFDFMMJOUIFTFDPOEDPMVNOPGUIBUSPX
    XJUIUIF DPOИEFODF Q 24AC08= BOEBCPSUUIFTFTUFQT

    SN?MCH$?R;>?=CG;F !H=I>CHA

    '&'' 65'#&
    '''& 65'-&
    &'###' 65'

    *HM> 0ABLLM>IEHHDL?HK1GB<H=>RM>+K=>K):KDL+)L

     0UIFSXJTF UIFVTFSBHFOUXJMMIBWFUPTFBSDIGPSFYQMJDJUDIBSBDUFSFODPEJOHJOGPSNBUJPOJOUIFИMFJUTFMG
    5IJTTIPVMEQSPDFFEBTGPMMPXT

    -FU ?>B8C8>= CFBQPJOUFSUPBCZUFJOUIFJOQVUTUSFBN JOJUJBMMZQPJOUJOHBUUIFИSTUCZUF*GBUBOZQPJOUEVSJOH


    UIFTFTVCTUFQTUIFVTFSBHFOUFJUIFSSVOTPVUPGCZUFTPSEFDJEFTUIBUTDBOOJOHGVSUIFSCZUFTXPVMEOPUCF
    FКDJFOU UIFOTLJQUPUIFOFYUTUFQPGUIFPWFSBMMDIBSBDUFSFODPEJOHEFUFDUJPOBMHPSJUIN6TFSBHFOUTNBZ
    EFDJEFUIBUTDBOOJOH 0=H CZUFTJTOPUFКDJFOU JOXIJDIDBTFUIFTFTVCTUFQTBSFFOUJSFMZTLJQQFE

    /PX SFQFBUUIFGPMMPXJOHUXPTUFQTVOUJMUIFBMHPSJUINBCPSUT FJUIFSCFDBVTFVTFSBHFOUBCPSUT BT


    EFTDSJCFEBCPWF PSCFDBVTFBDIBSBDUFSFODPEJOHJTGPVOE
    

     *G ?>B8C8>= QPJOUTUP

    X M?KO?H=?I@<SN?MMN;LNCHAQCNBRRR R /%% 


    "EWBODFUIF ?>B8C8>= QPJOUFSTPUIBUJUQPJOUTBUUIFИSTUY&CZUFXIJDIJTQSFDFEFECZ
    UXPY%CZUFT JFBUUIFFOEPGBO"4$**TFRVFODF
    BOEDPNFTBGUFSUIFY$
    CZUFUIBUXBTGPVOE 5IFUXPY%CZUFTDBOCFUIFTBNFBTUIFUIPTFJOUIF
    TFRVFODF

    
    X M?KO?H=?I@<SN?MMN;LNCHAQCNBR
    R ILR
    RILR
    RILR

    RILR
    ;H>]H;FFSIH?I@R
    R
    R
    R
    R
    R"=;M?
    CHM?HMCNCP?/%%G?N;@IFFIQ?><S;MJ;=?ILMF;MB

     "EWBODFUIF ?>B8C8>= QPJOUFSTPUIBUJUQPJOUTBUUIFOFYUY Y" Y$


    Y% Y PSY'CZUF UIFPOFJOTFRVFODFPGDIBSBDUFSTNBUDIFEBCPWF
    

     (FUBOBUUSJCVUF Q BOEJUTWBMVF*GOPBUUSJCVUFXBTTOJЗFE UIFOTLJQUIJT


    JOOFSTFUPGTUFQT BOEKVNQUPUIFTFDPOETUFQJOUIFPWFSBMMUXPTUFQ
    BMHPSJUIN

     *GUIFBUUSJCVUFTOBNFJTOFJUIFSDIBSTFUOPSDPOUFOU UIFOSFUVSOUPTUFQ
    JOUIFTFJOOFSTUFQT

     *GUIFBUUSJCVUFTOBNFJTDIBSTFU MFU 270AB4C CFUIFBUUSJCVUFTWBMVF


    JOUFSQSFUFEBTBDIBSBDUFSFODPEJOH

     0UIFSXJTF UIFBUUSJCVUFTOBNFJTDPOUFOUBQQMZUIF BMHPSJUINGPS


    FYUSBDUJOHBOFODPEJOHGSPNB$POUFOU5ZQF Q HJWJOHUIFBUUSJCVUFTWBMVFBT
    UIFTUSJOHUPQBSTF*GBOFODPEJOHJTSFUVSOFE MFU 270AB4C CFUIBUFODPEJOH
    0UIFSXJTF SFUVSOUPTUFQJOUIFTFJOOFSTUFQT

     *G 270AB4C JTB65'FODPEJOH DIBOHFUIFWBMVFPG 270AB4C UP65'

     *G 270AB4C JTBTVQQPSUFEDIBSBDUFSFODPEJOH UIFOSFUVSOUIFHJWFOFODPEJOH


    XJUI DPOИEFODF Q C4=C0C8E4 BOEBCPSUBMMUIFTFTUFQT

     0UIFSXJTF SFUVSOUPTUFQJOUIFTFJOOFSTUFQT

    X M?KO?H=?I@<SN?MMN;LNCHAQCNB;R<SN?/%%
    IJNCIH;FFS;R"<SN?
    /%% 
    ;H>]H;FFS;<SN?CHNB?L;HA?R RILR R;H/%%F?NN?L

     "EWBODFUIF ?>B8C8>= QPJOUFSTPUIBUJUQPJOUTBUUIFOFYUY "4$**5"#



    Y" "4$**-'
    Y$ "4$**''
    Y% "4$**$3
    Y "4$**TQBDF
    PSY&
    "4$**
    CZUF

     3FQFBUFEMZ HFUBOBUUSJCVUF Q VOUJMOPGVSUIFSBUUSJCVUFTDBOCFGPVOE UIFO


    KVNQUPUIFTFDPOETUFQJOUIFPWFSBMMUXPTUFQBMHPSJUIN

    X M?KO?H=?I@<SN?MMN;LNCHAQCNBRR/%%
    X M?KO?H=?I@<SN?MMN;LNCHAQCNBRR"/%% 
    X M?KO?H=?I@<SN?MMN;LNCHAQCNBRR"/%%
    "EWBODFUIF ?>B8C8>= QPJOUFSTPUIBUJUQPJOUTBUUIFИSTUY&CZUF "4$**
    UIBUDPNFT
    BGUFSUIFY$CZUFUIBUXBTGPVOE

    X HSINB?L<SN?
    %POPUIJOHXJUIUIBUCZUF

     .PWF ?>B8C8>= TPJUQPJOUTBUUIFOFYUCZUFJOUIFJOQVUTUSFBN BOESFUVSOUPUIFИSTUTUFQPGUIJT


    UXPTUFQBMHPSJUIN

    8IFOUIFBCPWFUXPTUFQBMHPSJUINTBZTUP A?N;H;NNLC<ON? JUNFBOTEPJOHUIJT

     *GUIFCZUFBU ?>B8C8>= JTPOFPGY "4$**5"#


    Y" "4$**-'
    Y$ "4$**''
    Y% "4$**$3

    Y "4$**TQBDF
    PSY' "4$**
    UIFOBEWBODF ?>B8C8>= UPUIFOFYUCZUFBOESFEPUIJTTVCTUFQ

     *GUIFCZUFBU ?>B8C8>= JTY& "4$**


    UIFOBCPSUUIFHFUBOBUUSJCVUFBMHPSJUIN5IFSFJTOU
    POF

     0UIFSXJTF UIFCZUFBU ?>B8C8>= JTUIFTUBSUPGUIFBUUSJCVUFOBNF-FU 0CCA81DC4=0<4 BOE 0CCA81DC4


    E0;D4 CFUIFFNQUZTUSJOH

     CCA81DC4=0<41SPDFTTUIFCZUFBU ?>B8C8>= BTGPMMPXT

    X %@CNCMR /%%
    ;H>NB? :MMKB;NM>G:F> CMFIHA?LNB;HNB??GJNSMNLCHA
    "EWBODF ?>B8C8>= UPUIFOFYUCZUFBOEKVNQUPUIFTUFQCFMPXMBCFMFE E0;D4

    X %@CNCMR/%%0
    R/%%("
    R/%%""
    R /%%.
    ILR
    /%%MJ;=?
    +VNQUPUIFTUFQCFMPXMBCFMFE B?024B

    
    X %@CNCMR"/%% ILR!/%%
    "CPSUUIFHFUBOBUUSJCVUFBMHPSJUIN5IFBUUSJCVUFTOBNFJTUIFWBMVFPG 0CCA81DC4
    =0<4 JUTWBMVFJTUIFFNQUZTUSJOH

    X %@CNCMCHNB?L;HA?R/%%NIR/%%6
    "QQFOEUIF6OJDPEFDIBSBDUFSXJUIDPEFQPJOU 1 Y UP 0CCA81DC4=0<4 XIFSF 1 JTUIF
    WBMVFPGUIFCZUFBU ?>B8C8>=
    

    X HSNBCHA?FM?
    "QQFOEUIF6OJDPEFDIBSBDUFSXJUIUIFTBNFDPEFQPJOUBTUIFWBMVFPGUIFCZUFBU
    ?>B8C8>=
    UP 0CCA81DC4=0<4 *UEPFTOUBDUVBMMZNBUUFSIPXCZUFTPVUTJEFUIF"4$**SBOHF
    BSFIBOEMFEIFSF TJODFPOMZ"4$**DIBSBDUFSTDBODPOUSJCVUFUPUIFEFUFDUJPOPGB
    DIBSBDUFSFODPEJOH

     "EWBODF ?>B8C8>= UPUIFOFYUCZUFBOESFUVSOUPUIFQSFWJPVTTUFQ

     )?024B*GUIFCZUFBU ?>B8C8>= JTPOFPGY "4$**5"#


    Y" "4$**-'
    Y$ "4$**''
    Y%
    "4$**$3
    PSY "4$**TQBDF
    UIFOBEWBODF ?>B8C8>= UPUIFOFYUCZUF UIFO SFQFBUUIJTTUFQ

     *GUIFCZUFBU ?>B8C8>= JT =>C Y% "4$**


    BCPSUUIFHFUBOBUUSJCVUFBMHPSJUIN5IFBUUSJCVUFT
    OBNFJTUIFWBMVFPG 0CCA81DC4=0<4 JUTWBMVFJTUIFFNQUZTUSJOH

     "EWBODF ?>B8C8>= QBTUUIFY% "4$**


    CZUF

     ,0;D4 *GUIFCZUFBU ?>B8C8>= JTPOFPGY "4$**5"#


    Y" "4$**-'
    Y$ "4$**''
    Y%
    "4$**$3
    PSY "4$**TQBDF
    UIFOBEWBODF ?>B8C8>= UPUIFOFYUCZUF UIFO SFQFBUUIJTTUFQ

     1SPDFTTUIFCZUFBU ?>B8C8>= BTGPMMPXT

    X %@CNCMR/%%ILR/%%

     -FU 1 CFUIFWBMVFPGUIFCZUFBU ?>B8C8>=

     "EWBODF ?>B8C8>= UPUIFOFYUCZUF

     *GUIFWBMVFPGUIFCZUFBU ?>B8C8>= JTUIFWBMVFPG 1 UIFOBEWBODF ?>B8C8>= UP


    UIFOFYUCZUFBOEBCPSUUIFHFUBOBUUSJCVUFBMHPSJUIN5IFBUUSJCVUFTOBNF
    JTUIFWBMVFPG 0CCA81DC4=0<4 BOEJUTWBMVFJTUIFWBMVFPG 0CCA81DC4E0;D4

     0UIFSXJTF JGUIFWBMVFPGUIFCZUFBU ?>B8C8>= JTJOUIFSBOHFY "4$**"


    UP
    Y" "4$**;
    UIFOBQQFOEB6OJDPEFDIBSBDUFSUP 0CCA81DC4E0;D4 XIPTFDPEF
    QPJOUJTYNPSFUIBOUIFWBMVFPGUIFCZUFBU ?>B8C8>=

     0UIFSXJTF BQQFOEB6OJDPEFDIBSBDUFSUP 0CCA81DC4E0;D4 XIPTFDPEFQPJOUJT


    UIFTBNFBTUIFWBMVFPGUIFCZUFBU ?>B8C8>=

     3FUVSOUPUIFTFDPOETUFQJOUIFTFTVCTUFQT

    X %@CNCMR!/%%
    "CPSUUIFHFUBOBUUSJCVUFBMHPSJUIN5IFBUUSJCVUFTOBNFJTUIFWBMVFPG 0CCA81DC4
    =0<4 JUTWBMVFJTUIFFNQUZTUSJOH

    X %@CNCMCHNB?L;HA?R/%%NIR/%%6
    "QQFOEUIF6OJDPEFDIBSBDUFSXJUIDPEFQPJOU 1 Y UP 0CCA81DC4E0;D4 XIFSF 1 JTUIF
    WBMVFPGUIFCZUFBU ?>B8C8>=
    "EWBODF ?>B8C8>= UPUIFOFYUCZUF

    X HSNBCHA?FM?
    "QQFOEUIF6OJDPEFDIBSBDUFSXJUIUIFTBNFDPEFQPJOUBTUIFWBMVFPGUIFCZUFBU
    ?>B8C8>=
    UP 0CCA81DC4E0;D4"EWBODF ?>B8C8>= UPUIFOFYUCZUF

     1SPDFTTUIFCZUFBU ?>B8C8>= BTGPMMPXT

    X %@CNCMR/%%0
    R/%%("
    R/%%""
    R /%%.
    R
    /%%MJ;=?
    ILR!/%%
    "CPSUUIFHFUBOBUUSJCVUFBMHPSJUIN5IFBUUSJCVUFTOBNFJTUIFWBMVFPG 0CCA81DC4
    =0<4 BOEJUTWBMVFJTUIFWBMVFPG 0CCA81DC4E0;D4

    X %@CNCMCHNB?L;HA?R/%%NIR/%%6
    "QQFOEUIF6OJDPEFDIBSBDUFSXJUIDPEFQPJOU 1 Y UP 0CCA81DC4E0;D4 XIFSF 1 JTUIF
    WBMVFPGUIFCZUFBU ?>B8C8>=
    

    
    X HSNBCHA?FM?
    "QQFOEUIF6OJDPEFDIBSBDUFSXJUIUIFTBNFDPEFQPJOUBTUIFWBMVFPGUIFCZUFBU
    ?>B8C8>=
    UP 0CCA81DC4E0;D4

     "EWBODF ?>B8C8>= UPUIFOFYUCZUFBOESFUVSOUPUIFQSFWJPVTTUFQ

    'PSUIFTBLFPGJOUFSPQFSBCJMJUZ VTFSBHFOUTTIPVMEOPUVTFBQSFTDBOBMHPSJUINUIBUSFUVSOTEJЗFSFOUSFTVMUT
    UIBOUIFPOFEFTDSJCFEBCPWF #VU JGZPVEP QMFBTFBUMFBTUMFUVTLOPX TPUIBUXFDBOJNQSPWFUIJT
    BMHPSJUINBOECFOFИUFWFSZPOF

     *GUIFVTFSBHFOUIBTJOGPSNBUJPOPOUIFMJLFMZFODPEJOHGPSUIJTQBHF FHCBTFEPOUIFFODPEJOHPGUIFQBHF
    XIFOJUXBTMBTUWJTJUFE UIFOSFUVSOUIBUFODPEJOH XJUIUIF DPOИEFODF Q C4=C0C8E4 BOEBCPSUUIFTFTUFQT

     5IFVTFSBHFOUNBZBUUFNQUUPBVUPEFUFDUUIFDIBSBDUFSFODPEJOHGSPNBQQMZJOHGSFRVFODZBOBMZTJTPSPUIFS
    BMHPSJUINTUPUIFEBUBTUSFBN4VDIBMHPSJUINTNBZVTFJOGPSNBUJPOBCPVUUIFSFTPVSDFPUIFSUIBOUIF
    SFTPVSDFTDPOUFOUT JODMVEJOHUIFBEESFTTPGUIFSFTPVSDF*GBVUPEFUFDUJPOTVDDFFETJOEFUFSNJOJOHB
    DIBSBDUFSFODPEJOH UIFOSFUVSOUIBUFODPEJOH XJUIUIF DPOИEFODF Q C4=C0C8E4 BOEBCPSUUIFTFTUFQT
    <6/*7$)"3%&5> Q

    *HM> 0A>10"
    >G<H=BG@A:L:AB@AER=>M><M:;E>;BMI:MM>KG  H<NF>GMLMA:M<HGM:BG
    ;RM>LPBMAO:EN>L@K>:M>KMA:G Q"PAB<AF:M<AMA>10"
    I:MM>KG:K>O>KREBD>ERMH;>
    10"
     PABE>=H<NF>GMLPBMA;RM>L>JN>G<>LMA:M=HGHMF:M<ABM:K>O>KREBD>ERGHM
    1L>K
    :@>GML:K>MA>K>?HK>>G<HNK:@>=MHL>:K<A?HKMABL<HFFHG>G<H=BG@ 7,,10"8 I
    710" !08 I

     0UIFSXJTF SFUVSOBOJNQMFNFOUBUJPOEFИOFEPSVTFSTQFDJИFEEFGBVMUDIBSBDUFSFODPEJOH XJUIUIF


    DPOИEFODF Q C4=C0C8E4

    *ODPOUSPMMFEFOWJSPONFOUTPSJOFOWJSPONFOUTXIFSFUIFFODPEJOHPGEPDVNFOUTDBOCFQSFTDSJCFE GPS
    FYBNQMF GPSVTFSBHFOUTJOUFOEFEGPSEFEJDBUFEVTFJOOFXOFUXPSLT
    UIFDPNQSFIFOTJWF 65' FODPEJOHJT
    TVHHFTUFE

    *OPUIFSFOWJSPONFOUT UIFEFGBVMUFODPEJOHJTUZQJDBMMZEFQFOEFOUPOUIFVTFSTMPDBMF BOBQQSPYJNBUJPOPG


    UIFMBOHVBHFT BOEUIVTPGUFOFODPEJOHT PGUIFQBHFTUIBUUIFVTFSJTMJLFMZUPGSFRVFOU
    5IFGPMMPXJOHUBCMF
    HJWFTTVHHFTUFEEFGBVMUTCBTFEPOUIFVTFSTMPDBMF GPSDPNQBUJCJMJUZXJUIMFHBDZDPOUFOU-PDBMFTBSF
    JEFOUJИFECZ#$1MBOHVBHFDPEFT <#$1> Q

    (I=;F?F;HAO;A? /OAA?MN?>>?@;OFN?H=I>CHA

    BS 65'
    CF *40
    CH XJOEPXT
    DT *40
    DZ 65'
    GB 65'
    IF XJOEPXT
    IS 65'
    IV *40
    KB 8JOEPXT+
    LL 65'
    LP XJOEPXT
    LV XJOEPXT
    MU XJOEPXT
    MW *40
    NL 65'
    PS 65'
    QM *40
    SP 65'
    SV XJOEPXT
    TL XJOEPXT
    TM *40
    TS 65'
    UI XJOEPXT
    US XJOEPXT

    
    (I=;F?F;HAO;A? /OAA?MN?>>?@;OFN?H=I>CHA
    VL XJOEPXT
    WJ 65'
    [I$/ (#
    [I58 #JH
    "MMPUIFSMPDBMFT XJOEPXT

    5IF EPDVNFOUTDIBSBDUFSFODPEJOH Q NVTUJNNFEJBUFMZCFTFUUPUIFWBMVFSFUVSOFEGSPNUIJTBMHPSJUIN BUUIFTBNF


    UJNFBTUIFVTFSBHFOUVTFTUIFSFUVSOFEWBMVFUPTFMFDUUIFEFDPEFSUPVTFGPSUIFJOQVUTUSFBN

    *HM> 0ABL:E@HKBMAFBL: PBEE?NEOBHE:MBHG I H?MA>$00,LI><B[<:MBHG PAB<AK>JNBK>LMA:MMA>


    >G<H=BG@;>:LLNF>=MH;>%/+
    
    BGMA>:;L>G<>H?: <A:K:<M>K>G<H=BG@=><E:K:MBHG I MH
    MA><HGMK:KR :G=H?."  PAB<AK>JNBK>LMA:MMA>>G<H=BG@;>:LLNF>=MH;>1/
    /%%BGMA>
    :;L>G<>H?: <A:K:<M>K>G<H=BG@=><E:K:MBHG I MHMA><HGMK:KR 0ABLLI><B[<:MBHGLMABK=
    :IIKH:<ABLFHMBO:M>=;R:=>LBK>MH;>F:QBF:EER<HFI:MB;E>PBMAE>@:<R<HGM>GM 7$00,8 I
    7." 8 I

        B;L;=N?L?H=I>CHAM

    6TFSBHFOUTNVTUBUBNJOJNVNTVQQPSUUIF65'BOE8JOEPXTFODPEJOHT CVUNBZTVQQPSUNPSF

    *HM> %MBLGHMNGNLN:E?HK3>;;KHPL>KLMHLNIIHKM=HS>GLB?GHMNIP:K=LH?:ANG=K>==BLMBG<M
    <A:K:<M>K>G<H=BG@L

    6TFSBHFOUTNVTUTVQQPSUUIF QSFGFSSFE.*.&OBNF Q PGFWFSZDIBSBDUFSFODPEJOHUIFZTVQQPSU BOETIPVMETVQQPSU


    BMMUIF*"/"SFHJTUFSFEOBNFTBOEBMJBTFTPGFWFSZDIBSBDUFSFODPEJOHUIFZTVQQPSU <*"/"$)"34&5> Q

    8IFODPNQBSJOHBTUSJOHTQFDJGZJOHBDIBSBDUFSFODPEJOHXJUIUIFOBNFPSBMJBTPGBDIBSBDUFSFODPEJOHUPEFUFSNJOF
    JGUIFZBSFFRVBM VTFSBHFOUTNVTUSFNPWFBOZMFBEJOHPSUSBJMJOH TQBDFDIBSBDUFST Q JOCPUIOBNFT BOEUIFO
    QFSGPSNUIFDPNQBSJTPOJOBO "4$**DBTFJOTFOTJUJWF Q NBOOFS

    8IFOBVTFSBHFOUXPVMEPUIFSXJTFVTFBOFODPEJOHHJWFOJOUIFИSTUDPMVNOPGUIFGPMMPXJOHUBCMFUPFJUIFSDPOWFSU
    DPOUFOUUP6OJDPEFDIBSBDUFSTPSDPOWFSU6OJDPEFDIBSBDUFSTUPCZUFT JUNVTUJOTUFBEVTFUIFFODPEJOHHJWFOJOUIF
    DFMMJOUIFTFDPOEDPMVNOPGUIFTBNFSPX8IFOBCZUFPSTFRVFODFPGCZUFTJTUSFBUFEEJЗFSFOUMZEVFUPUIJT
    FODPEJOHBMJBTJOH JUJTTBJEUPIBWFCFFO GCMCHN?LJL?N?>@IL=IGJ;NC<CFCNS

    $IBSBDUFSFODPEJOHPWFSSJEFT
    %HJON?H=I>CHA .?JF;=?G?HN?H=I>CHA .?@?L?H=?M

    &6$,3 XJOEPXT <&6$,3> Q <8*/> Q


    (# (#, <3'$> Q <(#,> Q
    (#@ (#, <3'$> Q <(#,> Q
    *40 XJOEPXT <3'$> Q <8*/> Q
    *40 XJOEPXT <3'$> Q <8*/> Q
    *40 XJOEPXT <*40> Q <8*/> Q
    ,4@$@ XJOEPXT <3'$> Q <8*/> Q
    4IJGU@+*4 8JOEPXT+ <4)*'5+*4> Q <8*/+> Q
    5*4 XJOEPXT <5*4> Q <8*/> Q
    64"4$** XJOEPXT <3'$> Q <8*/> Q

    *HM> 0A>K>JNBK>F>GMMHMK>:M<>KM:BG>G<H=BG@L:LHMA>K>G<H=BG@L:<<HK=BG@MHMA>M:;E>:;HO>
    BL: PBEE?NEOBHE:MBHG I H?MA>3A:K:<M>K)H=>ELI><B[<:MBHG FHMBO:M>=;R:=>LBK>?HK
    <HFI:MB;BEBMRPBMAE>@:<R<HGM>GM 7$.)+ 8 I

    8IFOBVTFSBHFOUJTUPVTFUIF65'FODPEJOHCVUOP#0.IBTCFFOGPVOE VTFSBHFOUTNVTUEFGBVMUUP65'-&

    *HM> 0A>K>JNBK>F>GMMH=>?:NEM10"
    MH(!K:MA>KMA:G!BL: PBEE?NEOBHE:MBHG I H?."
    FHMBO:M>=;R:=>LBK>?HK<HFI:MB;BEBMRPBMAE>@:<R<HGM>GM 7."8 I

    6TFSBHFOUTNVTUOPUTVQQPSUUIF$&46 65' #0$6BOE4$46FODPEJOHT <$&46> Q <65'> Q <#0$6> Q


    <4$46> Q

    
    4VQQPSUGPSFODPEJOHTCBTFEPO&#$%*$JTOPUSFDPNNFOEFE5IJTFODPEJOHJTSBSFMZVTFEGPSQVCMJDMZGBDJOH8FC
    DPOUFOU

    4VQQPSUGPS65'JTOPUSFDPNNFOEFE5IJTFODPEJOHJTSBSFMZVTFE BOEGSFRVFOUMZJNQMFNFOUFEJODPSSFDUMZ

    *HM> 0ABLLI><B[<:MBHG=H>LGHMF:D>:GR:MM>FIMMHLNIIHKM! %
    ;:L>=>G<H=BG@L:G=
    10"
    BGBML:E@HKBMAFLLNIIHKM:G=NL>H?MA>L>>G<H=BG@L<:GMANLE>:=MHNG>QI><M>=
    ;>A:OBHKBGBFIE>F>GM:MBHGLH?MABLLI><B[<:MBHG

        ,L?JLI=?MMCHANB?CHJONMNL?;G

    (JWFOBOFODPEJOH UIFCZUFTJOUIFJOQVUTUSFBNNVTUCFDPOWFSUFEUP6OJDPEFDIBSBDUFSTGPSUIFUPLFOJ[FS BT


    EFTDSJCFECZUIFSVMFTGPSUIBUFODPEJOH FYDFQUUIBUUIFMFBEJOH6 '&''#:5&03%&3."3,DIBSBDUFS JGBOZ NVTU
    OPUCFTUSJQQFECZUIFFODPEJOHMBZFS JUJTTUSJQQFECZUIFSVMFCFMPX
    

    #ZUFTPSTFRVFODFTPGCZUFTJOUIFPSJHJOBMCZUFTUSFBNUIBUDPVMEOPUCFDPOWFSUFEUP6OJDPEFDPEFQPJOUTNVTUCF
    DPOWFSUFEUP6 '''%3&1-"$&.&/5$)"3"$5&3T

    *HM> RM>LHKL>JN>G<>LH?;RM>LBGMA>HKB@BG:E;RM>LMK>:FMA:M=B=GHM<HG?HKFMHMA>
    >G<H=BG@LI><B[<:MBHG> @ BGO:EB=10"
    ;RM>L>JN>G<>LBG:10"
    BGINMLMK>:F:K>>KKHKLMA:M
    <HG?HKF:G<><A><D>KL:K>>QI><M>=MHK>IHKM

    "OZCZUFPSTFRVFODFPGCZUFTJOUIFPSJHJOBMCZUFTUSFBNUIBUJT NJTJOUFSQSFUFEGPSDPNQBUJCJMJUZ Q JTB QBSTF


    FSSPS Q 

    0OFMFBEJOH6 '&''#:5&03%&3."3,DIBSBDUFSNVTUCFJHOPSFEJGBOZBSFQSFTFOU

    *HM> 0A>K>JNBK>F>GMMHLMKBI:1"!""50!+. !.).'<A:K:<M>KK>@:K=E>LLH?PA>MA>KMA:M


    <A:K:<M>KP:LNL>=MH=>M>KFBG>MA>;RM>HK=>KBL: PBEE?NEOBHE:MBHG I H?1GB<H=> FHMBO:M>=;R:
    =>LBK>MHBG<K>:L>MA>K>LBEB>G<>H?NL>K:@>GMLBGMA>?:<>H?G:TO>MK:GL<H=>KL

    "MM6 /6--DIBSBDUFSTBOEDPEFQPJOUTJOUIFSBOHF6 %UP6 %'''JOUIFJOQVUNVTUCFSFQMBDFECZ


    6 '''%3&1-"$&.&/5$)"3"$5&3T"OZPDDVSSFODFTPGTVDIDIBSBDUFSTBOEDPEFQPJOUTBSF QBSTFFSSPST Q 

    "OZPDDVSSFODFTPGBOZDIBSBDUFSTJOUIFSBOHFT6 UP6  6 &UP6 ' 6 'UP6 '


    6 '%%UP6 '%&' BOEDIBSBDUFST6 # 6 '''& 6 '''' 6 '''& 6 '''' 6 '''& 6 '''' 6 '''&
    6 '''' 6 '''& 6 '''' 6 '''& 6 '''' 6 '''& 6 '''' 6 '''& 6 '''' 6 '''& 6 ''''
    6 '''& 6 '''' 6 "'''& 6 "'''' 6 #'''& 6 #'''' 6 $'''& 6 $'''' 6 %'''& 6 %'''' 6 &'''&
    6 &'''' 6 ''''& 6 ''''' 6 '''& BOE6 ''''BSF QBSTFFSSPST Q 5IFTFBSFBMMDPOUSPMDIBSBDUFSTPS
    QFSNBOFOUMZVOEFИOFE6OJDPEFDIBSBDUFST OPODIBSBDUFST
    

    6 %$"33*"(&3&563/ $3
    DIBSBDUFSTBOE6 "-*/&'&&% -'
    DIBSBDUFSTBSFUSFBUFETQFDJBMMZ"OZ$3
    DIBSBDUFSTUIBUBSFGPMMPXFECZ-'DIBSBDUFSTNVTUCFSFNPWFE BOEBOZ$3DIBSBDUFSTOPUGPMMPXFECZ-'DIBSBDUFST
    NVTUCFDPOWFSUFEUP-'DIBSBDUFST5IVT OFXMJOFTJO)5.-%0.TBSFSFQSFTFOUFECZ-'DIBSBDUFST BOEUIFSFBSF
    OFWFSBOZ$3DIBSBDUFSTJOUIFJOQVUUPUIF UPLFOJ[BUJPO Q TUBHF

    5IF H?RNCHJON=B;L;=N?L JTUIFИSTUDIBSBDUFSJOUIFJOQVUTUSFBNUIBUIBTOPUZFUCFFO =IHMOG?>*OJUJBMMZ UIF


    =4GC8=?DC270A02C4A ? JTUIFИSTUDIBSBDUFSJOUIFJOQVU5IF =OLL?HNCHJON=B;L;=N?L JTUIFMBTUDIBSBDUFSUPIBWF
    CFFO 2>=BD<43 ? 

    5IF CHM?LNCIHJICHN JTUIFQPTJUJPO KVTUCFGPSFBDIBSBDUFSPSKVTUCFGPSFUIFFOEPGUIFJOQVUTUSFBN


    XIFSFDPOUFOU
    JOTFSUFEVTJOH EPDVNFOUXSJUF
    Q JTBDUVBMMZJOTFSUFE5IFJOTFSUJPOQPJOUJTSFMBUJWFUPUIFQPTJUJPOPGUIFDIBSBDUFS
    JNNFEJBUFMZBGUFSJU JUJTOPUBOBCTPMVUFPЗTFUJOUPUIFJOQVUTUSFBN*OJUJBMMZ UIFJOTFSUJPOQPJOUJTVOEFИOFE

    5IF&0'DIBSBDUFSJOUIFUBCMFTCFMPXJTBDPODFQUVBMDIBSBDUFSSFQSFTFOUJOHUIFFOEPGUIF JOQVUTUSFBN Q *GUIF


    QBSTFSJTB TDSJQUDSFBUFEQBSTFS Q UIFOUIFFOEPGUIF JOQVUTUSFBN Q JTSFBDIFEXIFOBO ?RJFC=CN!+"
    =B;L;=N?L JOTFSUFECZUIF EPDVNFOUDMPTF
    Q NFUIPE
    JTDPOTVNFE0UIFSXJTF UIF&0'DIBSBDUFSJTOPUBSFBM
    DIBSBDUFSJOUIFTUSFBN CVUSBUIFSUIFMBDLPGBOZGVSUIFSDIBSBDUFST

        B;HACHANB??H=I>CHAQBCF?J;LMCHA

    8IFOUIFQBSTFSSFRVJSFTUIFVTFSBHFOUUP =B;HA?NB??H=I>CHA JUNVTUSVOUIFGPMMPXJOHTUFQT5IJTNJHIUIBQQFO


    JGUIF FODPEJOHTOJКOHBMHPSJUIN Q EFTDSJCFEBCPWFGBJMFEUPИOEBOFODPEJOH PSJGJUGPVOEBOFODPEJOHUIBUXBTOPU
    UIFBDUVBMFODPEJOHPGUIFИMF

    
     *GUIFOFXFODPEJOHJTJEFOUJDBMPSFRVJWBMFOUUPUIFFODPEJOHUIBUJTBMSFBEZCFJOHVTFEUPJOUFSQSFUUIF
    JOQVUTUSFBN UIFOTFUUIF DPOИEFODF Q UP 24AC08= BOEBCPSUUIFTFTUFQT5IJTIBQQFOTXIFOUIFFODPEJOH
    JOGPSNBUJPOGPVOEJOUIFИMFNBUDIFTXIBUUIF FODPEJOHTOJКOHBMHPSJUIN Q EFUFSNJOFEUPCFUIF
    FODPEJOH BOEJOUIFTFDPOEQBTTUISPVHIUIFQBSTFSJGUIFИSTUQBTTGPVOEUIBUUIFFODPEJOHTOJКOH
    BMHPSJUINEFTDSJCFEJOUIFFBSMJFSTFDUJPOGBJMFEUPИOEUIFSJHIUFODPEJOH

     *GUIFFODPEJOHUIBUJTBMSFBEZCFJOHVTFEUPJOUFSQSFUUIFJOQVUTUSFBNJTB65'FODPEJOH UIFOTFUUIF
    DPOИEFODF Q UP 24AC08= BOEBCPSUUIFTFTUFQT5IFOFXFODPEJOHJTJHOPSFEJGJUXBTBOZUIJOHCVUUIFTBNF
    FODPEJOH UIFOJUXPVMECFDMFBSMZJODPSSFDU

     *GUIFOFXFODPEJOHJTB65'FODPEJOH DIBOHFJUUP65'

     *GBMMUIFCZUFTVQUPUIFMBTUCZUFDPOWFSUFECZUIFDVSSFOUEFDPEFSIBWFUIFTBNF6OJDPEFJOUFSQSFUBUJPOT
    JOCPUIUIFDVSSFOUFODPEJOHBOEUIFOFXFODPEJOH BOEJGUIFVTFSBHFOUTVQQPSUTDIBOHJOHUIFDPOWFSUFS
    POUIFЙZ UIFOUIFVTFSBHFOUNBZDIBOHFUPUIFOFXDPOWFSUFSGPSUIFFODPEJOHPOUIFЙZ4FUUIF
    EPDVNFOUTDIBSBDUFSFODPEJOH Q BOEUIFFODPEJOHVTFEUPDPOWFSUUIFJOQVUTUSFBNUPUIFOFXFODPEJOH
    TFUUIF DPOИEFODF Q UP 24AC08= BOEBCPSUUIFTFTUFQT

     0UIFSXJTF OBWJHBUF Q UPUIFEPDVNFOUBHBJO XJUI SFQMBDFNFOUFOBCMFE Q BOEVTJOHUIFTBNF TPVSDF


    CSPXTJOHDPOUFYU Q CVUUIJTUJNFTLJQUIF FODPEJOHTOJКOHBMHPSJUIN Q BOEJOTUFBEKVTUTFUUIFFODPEJOH
    UPUIFOFXFODPEJOHBOEUIF DPOИEFODF Q UP 24AC08=8IFOFWFSQPTTJCMF UIJTTIPVMECFEPOFXJUIPVU
    BDUVBMMZDPOUBDUJOHUIFOFUXPSLMBZFS UIFCZUFTTIPVMECFSFQBSTFEGSPNNFNPSZ
    FWFOJG FH UIF
    EPDVNFOUJTNBSLFEBTOPUCFJOHDBDIFBCMF*GUIJTJTOPUQPTTJCMFBOEDPOUBDUJOHUIFOFUXPSLMBZFSXPVME
    JOWPMWFSFQFBUJOHBSFRVFTUUIBUVTFTBNFUIPEPUIFSUIBO)551(&5 PSFRVJWBMFOU Q GPSOPO)55163-T

    UIFOJOTUFBETFUUIF DPOИEFODF Q UP 24AC08= BOEJHOPSFUIFOFXFODPEJOH5IFSFTPVSDFXJMMCF
    NJTJOUFSQSFUFE6TFSBHFOUTNBZOPUJGZUIFVTFSPGUIFTJUVBUJPO UPBJEJOBQQMJDBUJPOEFWFMPQNFOU

       ,;LM?MN;N?
        0B?CHM?LNCIHGI>?

    5IF CHM?LNCIHGI>? JTBTUBUFWBSJBCMFUIBUDPOUSPMTUIFQSJNBSZPQFSBUJPOPGUIFUSFFDPOTUSVDUJPOTUBHF

    *OJUJBMMZ UIF JOTFSUJPONPEF Q JTJOJUJBM Q *UDBODIBOHFUPCFGPSFIUNM Q  CFGPSFIFBE Q  JOIFBE Q  JO
    IFBEOPTDSJQU Q  BGUFSIFBE Q  JOCPEZ Q  UFYU Q  JOUBCMF Q  JOUBCMFUFYU Q  JODBQUJPO Q  JO
    DPMVNOHSPVQ Q  JOUBCMFCPEZ Q  JOSPX Q  JODFMM Q  JOTFMFDU Q  JOTFMFDUJOUBCMF Q  JOGPSFJHO
    DPOUFOU Q  BGUFSCPEZ Q  JOGSBNFTFU Q  BGUFSGSBNFTFU Q  BGUFSBGUFSCPEZ Q  BOEBGUFSBGUFS
    GSBNFTFU Q EVSJOHUIFDPVSTFPGUIFQBSTJOH BTEFTDSJCFEJOUIF USFFDPOTUSVDUJPO Q TUBHF5IFJOTFSUJPONPEF
    BЗFDUTIPXUPLFOTBSFQSPDFTTFEBOEXIFUIFS$%"5"TFDUJPOTBSFTVQQPSUFE

    4FWFOPGUIFTFNPEFT OBNFMZJOIFBE Q  JOCPEZ Q  JOUBCMF Q  JOUBCMFCPEZ Q  JOSPX Q  JODFMM Q 
    BOEJOTFMFDU Q  BSFTQFDJBM JOUIBUUIFPUIFSNPEFTEFGFSUPUIFNBUWBSJPVTUJNFT8IFOUIFBMHPSJUINCFMPXTBZT
    UIBUUIFVTFSBHFOUJTUPEPTPNFUIJOHOMCHANB?LOF?M@IL UIF < JOTFSUJPONPEF XIFSF < JTPOFPGUIFTFNPEFT
    UIFVTFSBHFOUNVTUVTFUIFSVMFTEFTDSJCFEVOEFSUIF < JOTFSUJPONPEF Q TTFDUJPO CVUNVTUMFBWFUIF JOTFSUJPO
    NPEF Q VODIBOHFEVOMFTTUIFSVMFTJO < UIFNTFMWFTTXJUDIUIF JOTFSUJPONPEF Q UPBOFXWBMVF

    8IFOUIFJOTFSUJPONPEFJTTXJUDIFEUPUFYU Q PSJOUBCMFUFYU Q  UIF ILCACH;FCHM?LNCIHGI>? JTBMTPTFU5IJT


    JTUIFJOTFSUJPONPEFUPXIJDIUIFUSFFDPOTUSVDUJPOTUBHFXJMMSFUVSO

    8IFOUIFJOTFSUJPONPEFJTTXJUDIFEUPJOGPSFJHODPOUFOU Q  UIF M?=IH>;LSCHM?LNCIHGI>? JTBMTPTFU5IJT


    TFDPOEBSZNPEFJTVTFEXJUIJOUIFSVMFTGPSUIFJOGPSFJHODPOUFOU Q NPEFUPIBOEMF)5.- JFOPUGPSFJHO

    DPOUFOU

    8IFOUIFTUFQTCFMPXSFRVJSFUIF6"UP L?M?NNB?CHM?LNCIHGI>?;JJLIJLC;N?FS JUNFBOTUIF6"NVTUGPMMPX


    UIFTFTUFQT

     -FU ;0BC CFGBMTF

     -FU 5>A486= CFGBMTF

     -FU =>34 CFUIFMBTUOPEFJOUIF TUBDLPGPQFOFMFNFOUT Q 

     ">>?*G =>34 JTUIFИSTUOPEFJOUIFTUBDLPGPQFOFMFNFOUT UIFOTFU ;0BC UPUSVFBOETFU =>34 UPUIF 2>=C4GC


    FMFNFOU GSBHNFOUDBTF Q

     *G =>34 JTB TFMFDU Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOTFMFDU Q BOEKVNQUPUIFTUFQ
    MBCFMFE 4=3 GSBHNFOUDBTF Q

    
     *G =>34 JTB UE Q PS UI Q FMFNFOUBOE ;0BC JTGBMTF UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJODFMM Q BOE
    KVNQUPUIFTUFQMBCFMFE 4=3

     *G =>34 JTB US Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOSPX Q BOEKVNQUPUIFTUFQMBCFMFE
    4=3

     *G =>34 JTB UCPEZ Q UIFBE Q PS UGPPU Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOUBCMF
    CPEZ Q BOEKVNQUPUIFTUFQMBCFMFE 4=3

     *G =>34 JTB DBQUJPO Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJODBQUJPO Q BOEKVNQUPUIFTUFQ
    MBCFMFE 4=3

     *G =>34 JTB DPMHSPVQ Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJODPMVNOHSPVQ Q BOEKVNQUP
    UIFTUFQMBCFMFE 4=3 GSBHNFOUDBTF Q

     *G =>34 JTB UBCMF Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOUBCMF Q BOEKVNQUPUIFTUFQ
    MBCFMFE 4=3

     *G =>34 JTB IFBE Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOCPEZ Q  JOCPEZ Q  =>C8=
    7403 ?  
    BOEKVNQUPUIFTUFQMBCFMFE 4=3 GSBHNFOUDBTF Q

     *G =>34 JTB CPEZ Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOCPEZ Q BOEKVNQUPUIFTUFQ
    MBCFMFE 4=3

     *G =>34 JTB GSBNFTFU Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOGSBNFTFU Q BOEKVNQUPUIF
    TUFQMBCFMFE 4=3 GSBHNFOUDBTF Q

     *G =>34 JTBO IUNM Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UPCFGPSFIFBE Q 5IFO KVNQUPUIFTUFQ
    MBCFMFE 4=3 GSBHNFOUDBTF Q

     *G =>34 JTBOFMFNFOUGSPNUIF .BUI.-OBNFTQBDF Q PSUIF 47(OBNFTQBDF Q UIFOTFUUIF 5>A486= ЙBHUP
    USVF

     *G ;0BC JTUSVF UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOCPEZ Q BOEKVNQUPUIFTUFQMBCFMFE 4=3 GSBHNFOU
    DBTF Q

     -FU =>34 OPXCFUIFOPEFCFGPSF =>34 JOUIF TUBDLPGPQFOFMFNFOUT Q 

     3FUVSOUPUIFTUFQMBCFMFE ;>>?

     =3*G 5>A486= JTUSVF TXJUDIUIF TFDPOEBSZJOTFSUJPONPEF Q UPXIBUFWFSUIF JOTFSUJPONPEF Q JTTFUUP
    BOETXJUDIUIF JOTFSUJPONPEF Q UPJOGPSFJHODPOUFOU Q 

        0B?MN;=EI@IJ?H?F?G?HNM

    *OJUJBMMZ UIF MN;=EI@IJ?H?F?G?HNM JTFNQUZ5IFTUBDLHSPXTEPXOXBSETUIFUPQNPTUOPEFPOUIFTUBDLJTUIF


    ИSTUPOFBEEFEUPUIFTUBDL BOEUIFCPUUPNNPTUOPEFPGUIFTUBDLJTUIFNPTUSFDFOUMZBEEFEOPEFJOUIFTUBDL
    OPUXJUITUBOEJOHXIFOUIFTUBDLJTNBOJQVMBUFEJOBSBOEPNBDDFTTGBTIJPOBTQBSUPG UIFIBOEMJOHGPSNJTOFTUFE
    UBHT Q
    

    5IFCFGPSFIUNM Q  JOTFSUJPONPEF Q DSFBUFTUIF IUNM Q SPPUFMFNFOUOPEF XIJDIJTUIFOBEEFEUPUIFTUBDL

    *OUIF GSBHNFOUDBTF Q UIF TUBDLPGPQFOFMFNFOUT Q JTJOJUJBMJ[FEUPDPOUBJOBO IUNM Q FMFNFOUUIBUJTDSFBUFEBT
    QBSUPG UIBUBMHPSJUIN Q  5IF GSBHNFOUDBTF Q TLJQTUIFCFGPSFIUNM Q  JOTFSUJPONPEF Q 

    5IF IUNM Q OPEF IPXFWFSJUJTDSFBUFE JTUIFUPQNPTUOPEFPGUIFTUBDL*UPOMZHFUTQPQQFEPЗUIFTUBDLXIFOUIF


    QBSTFS ИOJTIFT Q 

    5IF =OLL?HNHI>? JTUIFCPUUPNNPTUOPEFJOUIJTTUBDL

    5IF =OLL?HNN;<F? JTUIFMBTU UBCMF Q FMFNFOUJOUIF TUBDLPGPQFOFMFNFOUT Q JGUIFSFJTPOF*GUIFSFJTOP


    UBCMF Q FMFNFOUJOUIF TUBDLPGPQFOFMFNFOUT Q GSBHNFOUDBTF Q
    UIFOUIF DVSSFOUUBCMF Q JTUIFИSTUFMFNFOU
    JOUIF TUBDLPGPQFOFMFNFOUT Q UIF IUNM Q FMFNFOU
    

    &MFNFOUTJOUIFTUBDLGBMMJOUPUIFGPMMPXJOHDBUFHPSJFT

    /I><B:E
    5IFGPMMPXJOH)5.-FMFNFOUTIBWFWBSZJOHMFWFMTPGTQFDJBMQBSTJOHSVMFT BEESFTT Q BSFB Q BSUJDMF Q
    BTJEF Q CBTF Q CBTFGPOU Q CHTPVOE Q CMPDLRVPUF Q CPEZ Q CS Q DFOUFS Q DPM Q DPMHSPVQ Q

    
    DPNNBOE Q  EE Q EFUBJMT Q EJS Q EJW Q EM Q EU Q FNCFE Q GJFMETFU Q GJHVSF Q GPPUFS Q
    GPSN Q GSBNF Q GSBNFTFU Q I Q I Q I Q I Q I Q I Q IFBE Q IFBEFS Q IHSPVQ Q
    IS Q JGSBNF Q JNH Q JOQVU Q JTJOEFY Q MJ Q MJOL Q MJTUJOH Q NFOV Q NFUB Q OBW Q
    OPFNCFE Q OPGSBNFT Q OPTDSJQU Q PM Q Q Q QBSBN Q QMBJOUFYU Q QSF Q TDSJQU Q TFDUJPO Q
    TFMFDU Q TUZMF Q UCPEZ Q UFYUBSFB Q UGPPU Q UIFBE Q UJUMF Q US Q VM Q XCS Q BOE YNQ Q 

    /<HIBG@
    5IFGPMMPXJOH)5.-FMFNFOUTJOUSPEVDFOFX TDPQFT Q GPSWBSJPVTQBSUTPGUIFQBSTJOH BQQMFU Q CVUUPO Q
    DBQUJPO Q IUNM Q NBSRVFF Q PCKFDU Q UBCMF Q UE Q UI Q BOE47(T GPSFJHO0CKFDU

    "HKF:MMBG@
    5IFGPMMPXJOH)5.-FMFNFOUTBSFUIPTFUIBUFOEVQJOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q  B Q C Q
    CJH Q DPEF Q FN Q GPOU Q J Q OPCS Q T Q TNBMM Q TUSJLF Q TUSPOH Q UU Q BOE V Q 

    ,AK:LBG@
    "MMPUIFSFMFNFOUTGPVOEXIJMFQBSTJOHBO)5.-EPDVNFOU

    5IF TUBDLPGPQFOFMFNFOUT Q JTTBJEUP B;P?;H?F?G?HNCH;MJ?=C]=M=IJ? DPOTJTUJOHPGBMJTUPGFMFNFOUUZQFT


    ;8BC XIFOUIFGPMMPXJOHBMHPSJUINUFSNJOBUFTJOBNBUDITUBUF

     *OJUJBMJ[F =>34 UPCFUIF DVSSFOUOPEF Q UIFCPUUPNNPTUOPEFPGUIFTUBDL


    

     *G =>34 JTUIFUBSHFUOPEF UFSNJOBUFJOBNBUDITUBUF

     0UIFSXJTF JG =>34 JTPOFPGUIFFMFNFOUUZQFTJO ;8BC UFSNJOBUFJOBGBJMVSFTUBUF

     0UIFSXJTF TFU =>34 UPUIFQSFWJPVTFOUSZJOUIF TUBDLPGPQFOFMFNFOUT Q BOESFUVSOUPTUFQ 5IJTXJMM


    OFWFSGBJM TJODFUIFMPPQXJMMBMXBZTUFSNJOBUFJOUIFQSFWJPVTTUFQJGUIFUPQPGUIFTUBDLǡBO IUNM Q
    FMFNFOUǡJTSFBDIFE

    5IF TUBDLPGPQFOFMFNFOUT Q JTTBJEUP B;P?;H?F?G?HNCHM=IJ? XIFOJU IBTBOFMFNFOUJOUIFTQFDJИDTDPQF Q


    DPOTJTUJOHPGUIFGPMMPXJOHFMFNFOUUZQFT

    Ǭ BQQMFU Q JOUIF)5.-OBNFTQBDF


    Ǭ DBQUJPO Q JOUIF)5.-OBNFTQBDF
    Ǭ IUNM Q JOUIF)5.-OBNFTQBDF
    Ǭ UBCMF Q JOUIF)5.-OBNFTQBDF
    Ǭ UE Q JOUIF)5.-OBNFTQBDF
    Ǭ UI Q JOUIF)5.-OBNFTQBDF
    Ǭ CVUUPO Q JOUIF)5.-OBNFTQBDF
    Ǭ NBSRVFF Q JOUIF)5.-OBNFTQBDF
    Ǭ PCKFDU Q JOUIF)5.-OBNFTQBDF
    Ǭ GPSFJHO0CKFDU JOUIF47(OBNFTQBDF

    5IF TUBDLPGPQFOFMFNFOUT Q JTTBJEUP B;P?;H?F?G?HNCHFCMNCN?GM=IJ? XIFOJU IBTBOFMFNFOUJOUIFTQFDJИD


    TDPQF Q DPOTJTUJOHPGUIFGPMMPXJOHFMFNFOUUZQFT

    Ǭ "MMUIFFMFNFOUUZQFTMJTUFEBCPWFGPSUIF 70B0=4;4<4=C8=B2>?4 ? BMHPSJUIN


    Ǭ PM Q JOUIF)5.-OBNFTQBDF
    Ǭ VM Q JOUIF)5.-OBNFTQBDF

    5IF TUBDLPGPQFOFMFNFOUT Q JTTBJEUP B;P?;H?F?G?HNCH M:;E>L<HI> XIFOJU IBTBOFMFNFOUJOUIFTQFDJИD


    TDPQF Q DPOTJTUJOHPGUIFGPMMPXJOHFMFNFOUUZQFT

    Ǭ IUNM Q JOUIF)5.-OBNFTQBDF


    Ǭ UBCMF Q JOUIF)5.-OBNFTQBDF

    /PUIJOHIBQQFOTJGBUBOZUJNFBOZPGUIFFMFNFOUTJOUIF TUBDLPGPQFOFMFNFOUT Q BSFNPWFEUPBOFXMPDBUJPOJO


    PSSFNPWFEGSPN UIF %PDVNFOU Q USFF*OQBSUJDVMBS UIFTUBDLJTOPUDIBOHFEJOUIJTTJUVBUJPO5IJTDBODBVTF
    BNPOHTUPUIFSTUSBOHFFЗFDUT DPOUFOUUPCFBQQFOEFEUPOPEFTUIBUBSFOPMPOHFSJOUIF%0.

    *HM> %GLHF><:L>LG:F>ER PA>G <EHLBG@FBLG>LM>=?HKF:MMBG@>E>F>GML I  MA>LM:<DBL


    F:GBINE:M>=BG:K:G=HF
    :<<>LL?:LABHG

        0B?FCMNI@;=NCP?@ILG;NNCHA?F?G?HNM

    *OJUJBMMZ UIF FCMNI@;=NCP?@ILG;NNCHA?F?G?HNM JTFNQUZ*UJTVTFEUPIBOEMFNJTOFTUFE GPSNBUUJOHFMFNFOU


    UBHT Q 

    
    5IFMJTUDPOUBJOTFMFNFOUTJOUIF GPSNBUUJOH Q DBUFHPSZ BOETDPQFNBSLFST5IFTDPQFNBSLFSTBSFJOTFSUFEXIFO
    FOUFSJOH BQQMFU Q FMFNFOUT CVUUPOT PCKFDU Q FMFNFOUT NBSRVFFT UBCMFDFMMT BOEUBCMFDBQUJPOT BOEBSFVTFEUP
    QSFWFOUGPSNBUUJOHGSPNMFBLJOH 8=C> BQQMFU Q FMFNFOUT CVUUPOT PCKFDU Q FMFNFOUT NBSRVFFT BOEUBCMFT

    *HM> 0A>L<HI>F:KD>KL:K>NGK>E:M>=MHMA><HG<>IMH?:G>E>F>GM;>BG@ BGL<HI> I

    *OBEEJUJPO FBDIFMFNFOUJOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q JTBTTPDJBUFEXJUIUIFUPLFOGPSXIJDIJUXBT


    DSFBUFE TPUIBUGVSUIFSFMFNFOUTDBOCFDSFBUFEGPSUIBUUPLFOJGOFDFTTBSZ

    8IFOUIFTUFQTCFMPXSFRVJSFUIF6"UP L?=IHMNLO=NNB?;=NCP?@ILG;NNCHA?F?G?HNM UIF6"NVTUQFSGPSNUIF


    GPMMPXJOHTUFQT

     *GUIFSFBSFOPFOUSJFTJOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q UIFOUIFSFJTOPUIJOHUPSFDPOTUSVDUTUPQ


    UIJTBMHPSJUIN

     *GUIFMBTU NPTUSFDFOUMZBEEFE
    FOUSZJOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q JTBNBSLFS PSJGJUJTBO
    FMFNFOUUIBUJTJOUIF TUBDLPGPQFOFMFNFOUT Q UIFOUIFSFJTOPUIJOHUPSFDPOTUSVDUTUPQUIJTBMHPSJUIN

     -FU 4=CAH CFUIFMBTU NPTUSFDFOUMZBEEFE


    FMFNFOUJOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

     *GUIFSFBSFOPFOUSJFTCFGPSF 4=CAH JOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q UIFOKVNQUPTUFQ

     -FU 4=CAH CFUIFFOUSZPOFFBSMJFSUIBO 4=CAH JOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

     *G 4=CAH JTOFJUIFSBNBSLFSOPSBOFMFNFOUUIBUJTBMTPJOUIF TUBDLPGPQFOFMFNFOUT Q HPUPTUFQ

     -FU 4=CAH CFUIFFMFNFOUPOFMBUFSUIBO 4=CAH JOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

     $SFBUFBOFMFNFOUGPSUIFUPLFO Q GPSXIJDIUIFFMFNFOU 4=CAH XBTDSFBUFE UPPCUBJO =4F4;4<4=C

     "QQFOE =4F4;4<4=C UPUIF DVSSFOUOPEF Q BOEQVTIJUPOUPUIF TUBDLPGPQFOFMFNFOUT Q TPUIBUJUJTUIF


    OFX DVSSFOUOPEF Q 

     3FQMBDFUIFFOUSZGPS 4=CAH JOUIFMJTUXJUIBOFOUSZGPS =4F4;4<4=C

     *GUIFFOUSZGPS =4F4;4<4=C JOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q JTOPUUIFMBTUFOUSZJOUIFMJTU SFUVSO


    UPTUFQ

    5IJTIBTUIFFЗFDUPGSFPQFOJOHBMMUIFGPSNBUUJOHFMFNFOUTUIBUXFSFPQFOFEJOUIFDVSSFOUCPEZ DFMM PSDBQUJPO


    XIJDIFWFSJTZPVOHFTU
    UIBUIBWFOUCFFOFYQMJDJUMZDMPTFE

    *HM> 0A>P:RMABLLI><B[<:MBHGBLPKBMM>G MA> EBLMH?:<MBO>?HKF:MMBG@>E>F>GML I :EP:RL


    <HGLBLMLH?>E>F>GMLBG<AKHGHEH@B<:EHK=>KPBMAMA>E>:LMK><>GMER:==>=>E>F>GM[KLM:G=MA>
    FHLMK><>GMER:==>=>E>F>GME:LM>Q<>IM?HKPABE>LM>ILMHH?MA>:;HO>:E@HKBMAF:K>;>BG@
    >Q><NM>= H?<HNKL>

    8IFOUIFTUFQTCFMPXSFRVJSFUIF6"UP =F?;LNB?FCMNI@;=NCP?@ILG;NNCHA?F?G?HNMOJNINB?F;MNG;LE?L UIF


    6"NVTUQFSGPSNUIFGPMMPXJOHTUFQT

     -FU 4=CAH CFUIFMBTU NPTUSFDFOUMZBEEFE


    FOUSZJOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

     3FNPWF 4=CAH GSPNUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

     *G 4=CAH XBTBNBSLFS UIFOTUPQUIFBMHPSJUINBUUIJTQPJOU5IFMJTUIBTCFFODMFBSFEVQUPUIFMBTUNBSLFS

     (PUPTUFQ

        0B??F?G?HNJICHN?LM

    *OJUJBMMZ UIF C@<? ?F?G?HNJICHN?L BOEUIF AJMH ?F?G?HNJICHN?L BSFCPUIOVMM

    0ODFB IFBE Q FMFNFOUIBTCFFOQBSTFE XIFUIFSJNQMJDJUMZPSFYQMJDJUMZ


    UIF IFBE FMFNFOUQPJOUFS Q HFUTTFUUP
    QPJOUUPUIJTOPEF

    5IF GPSN FMFNFOUQPJOUFS Q QPJOUTUPUIFMBTU GPSN Q FMFNFOUUIBUXBTPQFOFEBOEXIPTFFOEUBHIBTOPUZFUCFFO


    TFFO*UJTVTFEUPNBLFGPSNDPOUSPMTBTTPDJBUFXJUIGPSNTJOUIFGBDFPGESBNBUJDBMMZCBENBSLVQ GPSIJTUPSJDBM
    SFBTPOT

    
        +NB?LJ;LMCHAMN;N?^;AM

    5IF M=LCJNCHA^;A JTTFUUPFOBCMFEJG TDSJQUJOHXBTFOBCMFE Q GPSUIF %PDVNFOU Q XJUIXIJDIUIFQBSTFSJT


    BTTPDJBUFEXIFOUIFQBSTFSXBTDSFBUFE BOEEJTBCMFEPUIFSXJTF

    *HM> 0A> L<KBIMBG@\:@ I <:G;>>G:;E>=>O>GPA>GMA>I:KL>KP:LHKB@BG:EER<K>:M>=?HKMA>


    $0)(?K:@F>GMI:KLBG@:E@HKBMAF I >O>GMAHN@A L<KBIM I >E>F>GML=HGM>Q><NM>BGMA:M<:L>

    5IF @L;G?M?N IE^;A JTTFUUPPLXIFOUIFQBSTFSJTDSFBUFE*UJTTFUUPOPUPLBGUFSDFSUBJOUPLFOTBSFTFFO

       0IE?HCT;NCIH

    *NQMFNFOUBUJPOTNVTUBDUBTJGUIFZVTFEUIFGPMMPXJOHTUBUFNBDIJOFUPUPLFOJ[F)5.-5IFTUBUFNBDIJOFNVTUTUBSU
    JOUIF EBUBTUBUF Q .PTUTUBUFTDPOTVNFBTJOHMFDIBSBDUFS XIJDINBZIBWFWBSJPVTTJEFFЗFDUT BOEFJUIFSTXJUDIFT
    UIFTUBUFNBDIJOFUPBOFXTUBUFUP A42>=BD<4 UIFTBNFDIBSBDUFS PSTXJUDIFTJUUPBOFXTUBUF UPDPOTVNFUIFOFYU
    DIBSBDUFS
    PSSFQFBUTUIFTBNFTUBUF UPDPOTVNFUIFOFYUDIBSBDUFS
    4PNFTUBUFTIBWFNPSFDPNQMJDBUFECFIBWJPS
    BOEDBODPOTVNFTFWFSBMDIBSBDUFSTCFGPSFTXJUDIJOHUPBOPUIFSTUBUF*OTPNFDBTFT UIFUPLFOJ[FSTUBUFJTBMTP
    DIBOHFECZUIFUSFFDPOTUSVDUJPOTUBHF

    5IFFYBDUCFIBWJPSPGDFSUBJOTUBUFTEFQFOETPOUIF JOTFSUJPONPEF Q BOEUIF TUBDLPGPQFOFMFNFOUT Q $FSUBJO


    TUBUFTBMTPVTFB M>FIHK:KR;NZ>K UPUSBDLQSPHSFTT

    5IFPVUQVUPGUIFUPLFOJ[BUJPOTUFQJTBTFSJFTPG[FSPPSNPSFPGUIFGPMMPXJOHUPLFOT%0$5:1& TUBSUUBH FOEUBH


    DPNNFOU DIBSBDUFS FOEPGИMF%0$5:1&UPLFOTIBWFBOBNF BQVCMJDJEFOUJИFS BTZTUFNJEFOUJИFS BOEB 5>A24
    @D8A:BQ068IFOB%0$5:1&UPLFOJTDSFBUFE JUTOBNF QVCMJDJEFOUJИFS BOETZTUFNJEFOUJИFSNVTUCFNBSLFEBT
    NJTTJOH XIJDIJTBEJTUJODUTUBUFGSPNUIFFNQUZTUSJOH
    BOEUIF 5>A24@D8A:BQ06 NVTUCFTFUUP >O JUTPUIFSTUBUFJT
    >=
    4UBSUBOEFOEUBHUPLFOTIBWFBUBHOBNF B B4;52;>B8=6Q06 BOEBMJTUPGBUUSJCVUFT FBDIPGXIJDIIBTBOBNF
    BOEBWBMVF8IFOBTUBSUPSFOEUBHUPLFOJTDSFBUFE JUT B4;52;>B8=6Q06 NVTUCFVOTFU JUTPUIFSTUBUFJTUIBUJUCF
    TFU
    BOEJUTBUUSJCVUFTMJTUNVTUCFFNQUZ$PNNFOUBOEDIBSBDUFSUPLFOTIBWFEBUB

    8IFOBUPLFOJTFNJUUFE JUNVTUJNNFEJBUFMZCFIBOEMFECZUIF USFFDPOTUSVDUJPO Q TUBHF5IFUSFFDPOTUSVDUJPO


    TUBHFDBOBЗFDUUIFTUBUFPGUIFUPLFOJ[BUJPOTUBHF BOEDBOJOTFSUBEEJUJPOBMDIBSBDUFSTJOUPUIFTUSFBN 'PSFYBNQMF
    UIF TDSJQU Q FMFNFOUDBOSFTVMUJOTDSJQUTFYFDVUJOHBOEVTJOHUIF EZOBNJDNBSLVQJOTFSUJPO Q "1*TUPJOTFSU
    DIBSBDUFSTJOUPUIFTUSFBNCFJOHUPLFOJ[FE

    8IFOBTUBSUUBHUPLFOJTFNJUUFEXJUIJUT B4;52;>B8=6Q06 TFU JGUIFЙBHJTOPU ;=EHIQF?>A?> XIFOJUJTQSPDFTTFECZ


    UIFUSFFDPOTUSVDUJPOTUBHF UIBUJTB QBSTFFSSPS Q 

    8IFOBOFOEUBHUPLFOJTFNJUUFEXJUIBUUSJCVUFT UIBUJTB QBSTFFSSPS Q 

    8IFOBOFOEUBHUPLFOJTFNJUUFEXJUIJUT B4;52;>B8=6Q06 TFU UIBUJTB QBSTFFSSPS Q 

    "O ;JJLIJLC;N??H>N;ANIE?H JTBOFOEUBHUPLFOXIPTFUBHOBNFNBUDIFTUIFUBHOBNFPGUIFMBTUTUBSUUBHUP


    IBWFCFFOFNJUUFEGSPNUIJTUPLFOJ[FS JGBOZ*GOPTUBSUUBHIBTCFFOFNJUUFEGSPNUIJTUPLFOJ[FS UIFOOPFOEUBH
    UPLFOJTBQQSPQSJBUF

    #FGPSFFBDITUFQPGUIFUPLFOJ[FS UIFVTFSBHFOUNVTUИSTUDIFDLUIF QBSTFSQBVTFЙBH Q *GJUJTUSVF UIFOUIF


    UPLFOJ[FSNVTUBCPSUUIFQSPDFTTJOHPGBOZOFTUFEJOWPDBUJPOTPGUIFUPLFOJ[FS ZJFMEJOHDPOUSPMCBDLUPUIFDBMMFS

    5IFUPLFOJ[FSTUBUFNBDIJOFDPOTJTUTPGUIFTUBUFTEFИOFEJOUIFGPMMPXJOHTVCTFDUJPOT

        ;N;MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 ),!./* 
    4XJUDIUPUIF DIBSBDUFSSFGFSFODFJOEBUBTUBUF Q 

    X 1 (!// 0$*/%#*
    4XJUDIUPUIF UBHPQFOTUBUF Q 

    X !+"
    &NJUBOFOEPGИMFUPLFO

    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4UBZJOUIF EBUBTUBUF Q 

    
        B;L;=N?LL?@?L?H=?CH>;N;MN;N?

    "UUFNQUUP DPOTVNFBDIBSBDUFSSFGFSFODF Q XJUIOP BEEJUJPOBMBMMPXFEDIBSBDUFS Q 

    *GOPUIJOHJTSFUVSOFE FNJUB6 ".1&34"/%DIBSBDUFSUPLFO

    0UIFSXJTF FNJUUIFDIBSBDUFSUPLFOUIBUXBTSFUVSOFE

    'JOBMMZ TXJUDIUPUIF EBUBTUBUF Q 

        . 0MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 ),!./* 
    4XJUDIUPUIF DIBSBDUFSSFGFSFODFJO3$%"5"TUBUF Q 

    X 1 (!// 0$*/%#*
    4XJUDIUPUIF 3$%"5"MFTTUIBOTJHOTUBUF Q 

    X !+"
    &NJUBOFOEPGИMFUPLFO

    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4UBZJOUIF 3$%"5"TUBUF Q 

        B;L;=N?LL?@?L?H=?CH. 0MN;N?

    "UUFNQUUP DPOTVNFBDIBSBDUFSSFGFSFODF Q XJUIOP BEEJUJPOBMBMMPXFEDIBSBDUFS Q 

    *GOPUIJOHJTSFUVSOFE FNJUB6 ".1&34"/%DIBSBDUFSUPLFO

    0UIFSXJTF FNJUUIFDIBSBDUFSUPLFOUIBUXBTSFUVSOFE

    'JOBMMZ TXJUDIUPUIF 3$%"5"TUBUF Q 

        .30!40MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 (!// 0$*/%#*
    4XJUDIUPUIF 3"85&95MFTTUIBOTJHOTUBUF Q 

    X !+"
    &NJUBOFOEPGИMFUPLFO

    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4UBZJOUIF 3"85&95TUBUF Q 

        /=LCJN>;N;MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 (!// 0$*/%#*
    4XJUDIUPUIF TDSJQUEBUBMFTTUIBOTJHOTUBUF Q 

    X !+"
    &NJUBOFOEPGИMFUPLFO

    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4UBZJOUIF TDSJQUEBUBTUBUF Q 

        ,(%*0!40MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    
    X !+"
    &NJUBOFOEPGИMFUPLFO

    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4UBZJOUIF 1-"*/5&95TUBUF Q 

        0;AIJ?HMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 !4()0%+*).'
    4XJUDIUPUIF NBSLVQEFDMBSBUJPOPQFOTUBUF Q 

    X 1 "/+(% 1/ 
    4XJUDIUPUIF FOEUBHPQFOTUBUF Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    $SFBUFBOFXTUBSUUBHUPLFO TFUJUTUBHOBNFUPUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q
    BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    UIFOTXJUDIUPUIF UBHOBNFTUBUF Q  %POUFNJUUIFUPLFOZFU
    GVSUIFSEFUBJMTXJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    $SFBUFBOFXTUBSUUBHUPLFO TFUJUTUBHOBNFUPUIF DVSSFOUJOQVUDIBSBDUFS Q UIFOTXJUDIUPUIF UBHOBNF
    TUBUF Q  %POUFNJUUIFUPLFOZFUGVSUIFSEFUBJMTXJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X 1 "-1!/0%+*).'
    1BSTFFSSPS Q 4XJUDIUPUIF CPHVTDPNNFOUTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFOBOESFDPOTVNFUIF DVSSFOUJOQVU
    DIBSBDUFS Q JOUIF EBUBTUBUF Q 

        !H>N;AIJ?HMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    $SFBUFBOFXFOEUBHUPLFO TFUJUTUBHOBNFUPUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q BEE
    YUPUIFDIBSBDUFSTDPEFQPJOU
    UIFOTXJUDIUPUIF UBHOBNFTUBUF Q  %POUFNJUUIFUPLFOZFU
    GVSUIFSEFUBJMTXJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    $SFBUFBOFXFOEUBHUPLFO TFUJUTUBHOBNFUPUIF DVSSFOUJOQVUDIBSBDUFS Q UIFOTXJUDIUPUIF UBHOBNF
    TUBUF Q  %POUFNJUUIFUPLFOZFUGVSUIFSEFUBJMTXJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q 4XJUDIUPUIF EBUBTUBUF Q 

    X !+"
    1BSTFFSSPS Q &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFOBOEB6 '40-*%64DIBSBDUFSUPLFO
    3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 4XJUDIUPUIF CPHVTDPNNFOUTUBUF Q 

        0;AH;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4XJUDIUPUIF CFGPSFBUUSJCVUFOBNFTUBUF Q 

    
    X 1 "/+(% 1/ 
    4XJUDIUPUIF TFMGDMPTJOHTUBSUUBHTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOUUBHUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    "QQFOEUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU

    UPUIFDVSSFOUUBHUPLFOTUBHOBNF4UBZJOUIF UBHOBNFTUBUF Q 

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOUUBHUPLFOTUBHOBNF4UBZJOUIF UBHOBNFTUBUF Q 

        . 0F?MM NB;HMCAHMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 "/+(% 1/ 
    4FUUIF C4<?>A0AH1DO4A ? UPUIFFNQUZTUSJOH4XJUDIUPUIF 3$%"5"FOEUBHPQFOTUBUF Q 

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFOBOESFDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF
    3$%"5"TUBUF Q 

        . 0?H>N;AIJ?HMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    $SFBUFBOFXFOEUBHUPLFO BOETFUJUTUBHOBNFUPUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q
    BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF C4<?>A0AH
    1DO4A ? 'JOBMMZ TXJUDIUPUIF 3$%"5"FOEUBHOBNFTUBUF Q  %POUFNJUUIFUPLFOZFUGVSUIFSEFUBJMTXJMM
    CFИMMFEJOCFGPSFJUJTFNJUUFE

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    $SFBUFBOFXFOEUBHUPLFO BOETFUJUTUBHOBNFUPUIF DVSSFOUJOQVUDIBSBDUFS Q "QQFOEUIF DVSSFOUJOQVU
    DIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 'JOBMMZ TXJUDIUPUIF 3$%"5"FOEUBHOBNFTUBUF Q  %POUFNJU
    UIFUPLFOZFUGVSUIFSEFUBJMTXJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO B6 '40-*%64DIBSBDUFSUPLFO BOESFDPOTVNFUIF
    DVSSFOUJOQVUDIBSBDUFS Q JOUIF 3$%"5"TUBUF Q 

        . 0?H>N;AH;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOTXJUDIUPUIF CFGPSFBUUSJCVUFOBNF
    TUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X 1 "/+(% 1/ 
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOTXJUDIUPUIF TFMGDMPTJOHTUBSUUBH
    TUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X 1 !#.!0!. 0$*/%#*
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOFNJUUIFDVSSFOUUBHUPLFOBOETXJUDIUP
    UIF EBUBTUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    
    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    "QQFOEUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU

    UPUIFDVSSFOUUBHUPLFOTUBHOBNF"QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 4UBZ


    JOUIF 3$%"5"FOEUBHOBNFTUBUF Q 

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOUUBHUPLFOTUBHOBNF"QQFOEUIF DVSSFOUJOQVU
    DIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 4UBZJOUIF 3$%"5"FOEUBHOBNFTUBUF Q 

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO B6 '40-*%64DIBSBDUFSUPLFO BDIBSBDUFSUPLFOGPS
    FBDIPGUIFDIBSBDUFSTJOUIF C4<?>A0AH1DO4A ? JOUIFPSEFSUIFZXFSFBEEFEUPUIFCVЗFS
    BOE
    SFDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF 3$%"5"TUBUF Q 

        .30!40F?MM NB;HMCAHMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 "/+(% 1/ 
    4FUUIF C4<?>A0AH1DO4A ? UPUIFFNQUZTUSJOH4XJUDIUPUIF 3"85&95FOEUBHPQFOTUBUF Q 

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFOBOESFDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF
    3"85&95TUBUF Q 

        .30!40?H>N;AIJ?HMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    $SFBUFBOFXFOEUBHUPLFO BOETFUJUTUBHOBNFUPUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q
    BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF C4<?>A0AH
    1DO4A ? 'JOBMMZ TXJUDIUPUIF 3"85&95FOEUBHOBNFTUBUF Q  %POUFNJUUIFUPLFOZFUGVSUIFSEFUBJMT
    XJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    $SFBUFBOFXFOEUBHUPLFO BOETFUJUTUBHOBNFUPUIF DVSSFOUJOQVUDIBSBDUFS Q "QQFOEUIF DVSSFOUJOQVU
    DIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 'JOBMMZ TXJUDIUPUIF 3"85&95FOEUBHOBNFTUBUF Q  %POUFNJU
    UIFUPLFOZFUGVSUIFSEFUBJMTXJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO B6 '40-*%64DIBSBDUFSUPLFO BOESFDPOTVNFUIF
    DVSSFOUJOQVUDIBSBDUFS Q JOUIF 3"85&95TUBUF Q 

        .30!40?H>N;AH;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOTXJUDIUPUIF CFGPSFBUUSJCVUFOBNF
    TUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X 1 "/+(% 1/ 
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOTXJUDIUPUIF TFMGDMPTJOHTUBSUUBH
    TUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X 1 !#.!0!. 0$*/%#*
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOFNJUUIFDVSSFOUUBHUPLFOBOETXJUDIUP
    UIF EBUBTUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    
    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    "QQFOEUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU

    UPUIFDVSSFOUUBHUPLFOTUBHOBNF"QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 4UBZ


    JOUIF 3"85&95FOEUBHOBNFTUBUF Q 

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOUUBHUPLFOTUBHOBNF"QQFOEUIF DVSSFOUJOQVU
    DIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 4UBZJOUIF 3"85&95FOEUBHOBNFTUBUF Q 

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO B6 '40-*%64DIBSBDUFSUPLFO BDIBSBDUFSUPLFOGPS
    FBDIPGUIFDIBSBDUFSTJOUIF C4<?>A0AH1DO4A ? JOUIFPSEFSUIFZXFSFBEEFEUPUIFCVЗFS
    BOE
    SFDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF 3"85&95TUBUF Q 

        /=LCJN>;N;F?MM NB;HMCAHMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 "/+(% 1/ 
    4FUUIF C4<?>A0AH1DO4A ? UPUIFFNQUZTUSJOH4XJUDIUPUIF TDSJQUEBUBFOEUBHPQFOTUBUF Q 

    X 1 !4()0%+*).'
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFOBOEB6 &9$-"."5*0/."3,DIBSBDUFSUPLFO4XJUDI
    UPUIF TDSJQUEBUBFTDBQFTUBSUTUBUF Q 

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFOBOESFDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQU
    EBUBTUBUF Q 

        /=LCJN>;N;?H>N;AIJ?HMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    $SFBUFBOFXFOEUBHUPLFO BOETFUJUTUBHOBNFUPUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q
    BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF C4<?>A0AH
    1DO4A ? 'JOBMMZ TXJUDIUPUIF TDSJQUEBUBFOEUBHOBNFTUBUF Q  %POUFNJUUIFUPLFOZFUGVSUIFSEFUBJMT
    XJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    $SFBUFBOFXFOEUBHUPLFO BOETFUJUTUBHOBNFUPUIF DVSSFOUJOQVUDIBSBDUFS Q "QQFOEUIF DVSSFOUJOQVU
    DIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 'JOBMMZ TXJUDIUPUIF TDSJQUEBUBFOEUBHOBNFTUBUF Q  %POU
    FNJUUIFUPLFOZFUGVSUIFSEFUBJMTXJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO B6 '40-*%64DIBSBDUFSUPLFO BOESFDPOTVNFUIF
    DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQUEBUBTUBUF Q 

        /=LCJN>;N;?H>N;AH;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOTXJUDIUPUIF CFGPSFBUUSJCVUFOBNF
    TUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X 1 "/+(% 1/ 
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOTXJUDIUPUIF TFMGDMPTJOHTUBSUUBH
    TUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    
    X 1 !#.!0!. 0$*/%#*
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOFNJUUIFDVSSFOUUBHUPLFOBOETXJUDIUP
    UIF EBUBTUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    "QQFOEUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU

    UPUIFDVSSFOUUBHUPLFOTUBHOBNF"QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 4UBZ


    JOUIF TDSJQUEBUBFOEUBHOBNFTUBUF Q 

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOUUBHUPLFOTUBHOBNF"QQFOEUIF DVSSFOUJOQVU
    DIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 4UBZJOUIF TDSJQUEBUBFOEUBHOBNFTUBUF Q 

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO B6 '40-*%64DIBSBDUFSUPLFO BDIBSBDUFSUPLFOGPS
    FBDIPGUIFDIBSBDUFSTJOUIF C4<?>A0AH1DO4A ? JOUIFPSEFSUIFZXFSFBEEFEUPUIFCVЗFS
    BOE
    SFDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQUEBUBTUBUF Q 

        /=LCJN>;N;?M=;J?MN;LNMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    &NJUB6 %):1)&/.*/64DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBFTDBQFTUBSUEBTITUBUF Q 

    X HSNBCHA?FM?
    3FDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQUEBUBTUBUF Q 

        /=LCJN>;N;?M=;J?MN;LN>;MBMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    &NJUB6 %):1)&/.*/64DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBFTDBQFEEBTIEBTITUBUF Q 

    X HSNBCHA?FM?
    3FDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQUEBUBTUBUF Q 

        /=LCJN>;N;?M=;J?>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    &NJUB6 %):1)&/.*/64DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBFTDBQFEEBTITUBUF Q 

    X 1 (!// 0$*/%#*
    4XJUDIUPUIF TDSJQUEBUBFTDBQFEMFTTUIBOTJHOTUBUF Q 

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4UBZJOUIF TDSJQUEBUBFTDBQFETUBUF Q 

        /=LCJN>;N;?M=;J?>>;MBMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    &NJUB6 %):1)&/.*/64DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBFTDBQFEEBTIEBTITUBUF Q 

    X 1 (!// 0$*/%#*
    4XJUDIUPUIF TDSJQUEBUBFTDBQFEMFTTUIBOTJHOTUBUF Q 

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    
    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBFTDBQFETUBUF Q 

        /=LCJN>;N;?M=;J?>>;MB>;MBMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    &NJUB6 %):1)&/.*/64DIBSBDUFSUPLFO4UBZJOUIF TDSJQUEBUBFTDBQFEEBTIEBTITUBUF Q 

    X 1 (!// 0$*/%#*
    4XJUDIUPUIF TDSJQUEBUBFTDBQFEMFTTUIBOTJHOTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUB6 &(3&"5&35)"/4*(/DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBTUBUF Q 

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBFTDBQFETUBUF Q 

        /=LCJN>;N;?M=;J?>F?MM NB;HMCAHMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 "/+(% 1/ 
    4FUUIF C4<?>A0AH1DO4A ? UPUIFFNQUZTUSJOH4XJUDIUPUIF TDSJQUEBUBFTDBQFEFOEUBHPQFOTUBUF Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFOBOEUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO
    4FUUIF C4<?>A0AH1DO4A ? UPUIFFNQUZTUSJOH"QQFOEUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVU
    DIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    UPUIF C4<?>A0AH1DO4A ? 4XJUDIUPUIF TDSJQU
    EBUBEPVCMFFTDBQFTUBSUTUBUF Q 

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFOBOEUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO
    4FUUIF C4<?>A0AH1DO4A ? UPUIFFNQUZTUSJOH"QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF C4<?>A0AH
    1DO4A ? 4XJUDIUPUIF TDSJQUEBUBEPVCMFFTDBQFTUBSUTUBUF Q 

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFOBOESFDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQU
    EBUBFTDBQFETUBUF Q 

        /=LCJN>;N;?M=;J?>?H>N;AIJ?HMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    $SFBUFBOFXFOEUBHUPLFO BOETFUJUTUBHOBNFUPUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q
    BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF C4<?>A0AH
    1DO4A ? 'JOBMMZ TXJUDIUPUIF TDSJQUEBUBFTDBQFEFOEUBHOBNFTUBUF Q  %POUFNJUUIFUPLFOZFUGVSUIFS
    EFUBJMTXJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    $SFBUFBOFXFOEUBHUPLFO BOETFUJUTUBHOBNFUPUIF DVSSFOUJOQVUDIBSBDUFS Q "QQFOEUIF DVSSFOUJOQVU
    DIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 'JOBMMZ TXJUDIUPUIF TDSJQUEBUBFTDBQFEFOEUBHOBNFTUBUF Q 
    %POUFNJUUIFUPLFOZFUGVSUIFSEFUBJMTXJMMCFИMMFEJOCFGPSFJUJTFNJUUFE

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO B6 '40-*%64DIBSBDUFSUPLFO BOESFDPOTVNFUIF
    DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQUEBUBFTDBQFETUBUF Q 

    
        /=LCJN>;N;?M=;J?>?H>N;AH;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOTXJUDIUPUIF CFGPSFBUUSJCVUFOBNF
    TUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X 1 "/+(% 1/ 
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOTXJUDIUPUIF TFMGDMPTJOHTUBSUUBH
    TUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X 1 !#.!0!. 0$*/%#*
    *GUIFDVSSFOUFOEUBHUPLFOJTBO BQQSPQSJBUFFOEUBHUPLFO Q UIFOFNJUUIFDVSSFOUUBHUPLFOBOETXJUDIUP
    UIF EBUBTUBUF Q 0UIFSXJTF USFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    "QQFOEUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU

    UPUIFDVSSFOUUBHUPLFOTUBHOBNF"QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 4UBZ


    JOUIF TDSJQUEBUBFTDBQFEFOEUBHOBNFTUBUF Q 

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOUUBHUPLFOTUBHOBNF"QQFOEUIF DVSSFOUJOQVU
    DIBSBDUFS Q UPUIF C4<?>A0AH1DO4A ? 4UBZJOUIF TDSJQUEBUBFTDBQFEFOEUBHOBNFTUBUF Q 

    X HSNBCHA?FM?
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO B6 '40-*%64DIBSBDUFSUPLFO BDIBSBDUFSUPLFOGPS
    FBDIPGUIFDIBSBDUFSTJOUIF C4<?>A0AH1DO4A ? JOUIFPSEFSUIFZXFSFBEEFEUPUIFCVЗFS
    BOE
    SFDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQUEBUBFTDBQFETUBUF Q 

        /=LCJN>;N;>IO<F??M=;J?MN;LNMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    X 1 "/+(% 1/ 
    X 1 !#.!0!. 0$*/%#*
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO*GUIF C4<?>A0AH1DO4A ? JTUIFTUSJOHTDSJQU
    UIFOTXJUDIUPUIF TDSJQUEBUBEPVCMFFTDBQFETUBUF Q 0UIFSXJTF TXJUDIUPUIF TDSJQUEBUBFTDBQFE
    TUBUF Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO"QQFOEUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVU
    DIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    UPUIF C4<?>A0AH1DO4A ? 4UBZJOUIF TDSJQUEBUB
    EPVCMFFTDBQFTUBSUTUBUF Q 

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO"QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF
    C4<?>A0AH1DO4A ? 4UBZJOUIF TDSJQUEBUBEPVCMFFTDBQFTUBSUTUBUF Q 

    X HSNBCHA?FM?
    3FDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQUEBUBFTDBQFETUBUF Q 

        /=LCJN>;N;>IO<F??M=;J?>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    &NJUB6 %):1)&/.*/64DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBEPVCMFFTDBQFEEBTITUBUF Q 

    
    X 1 (!// 0$*/%#*
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBEPVCMFFTDBQFEMFTTUIBOTJHO
    TUBUF Q 

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4UBZJOUIF TDSJQUEBUBEPVCMFFTDBQFETUBUF Q 

        /=LCJN>;N;>IO<F??M=;J?>>;MBMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    &NJUB6 %):1)&/.*/64DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBEPVCMFFTDBQFEEBTIEBTI
    TUBUF Q 

    X 1 (!// 0$*/%#*
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBEPVCMFFTDBQFEMFTTUIBOTJHO
    TUBUF Q 

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBEPVCMFFTDBQFETUBUF Q 

        /=LCJN>;N;>IO<F??M=;J?>>;MB>;MBMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    &NJUB6 %):1)&/.*/64DIBSBDUFSUPLFO4UBZJOUIF TDSJQUEBUBEPVCMFFTDBQFEEBTIEBTITUBUF Q 

    X 1 (!// 0$*/%#*
    &NJUB6 $-&445)"/4*(/DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBEPVCMFFTDBQFEMFTTUIBOTJHO
    TUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUB6 &(3&"5&35)"/4*(/DIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBTUBUF Q 

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO4XJUDIUPUIF TDSJQUEBUBEPVCMFFTDBQFETUBUF Q 

        /=LCJN>;N;>IO<F??M=;J?>F?MM NB;HMCAHMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 "/+(% 1/ 
    &NJUB6 '40-*%64DIBSBDUFSUPLFO4FUUIF C4<?>A0AH1DO4A ? UPUIFFNQUZTUSJOH4XJUDIUPUIF
    TDSJQUEBUBEPVCMFFTDBQFFOETUBUF Q 

    X HSNBCHA?FM?
    3FDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQUEBUBEPVCMFFTDBQFETUBUF Q 

        /=LCJN>;N;>IO<F??M=;J??H>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    
    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    X 1 "/+(% 1/ 
    X 1 !#.!0!. 0$*/%#*
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO*GUIF C4<?>A0AH1DO4A ? JTUIFTUSJOHTDSJQU
    UIFOTXJUDIUPUIF TDSJQUEBUBFTDBQFETUBUF Q 0UIFSXJTF TXJUDIUPUIF TDSJQUEBUBEPVCMFFTDBQFE
    TUBUF Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO"QQFOEUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVU
    DIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    UPUIF C4<?>A0AH1DO4A ? 4UBZJOUIF TDSJQUEBUB
    EPVCMFFTDBQFFOETUBUF Q 

    X 1 (0%*/)(((!00!.NBLIOABNI1 (0%*/)(((!00!.6
    &NJUUIF DVSSFOUJOQVUDIBSBDUFS Q BTBDIBSBDUFSUPLFO"QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF
    C4<?>A0AH1DO4A ? 4UBZJOUIF TDSJQUEBUBEPVCMFFTDBQFFOETUBUF Q 

    X HSNBCHA?FM?
    3FDPOTVNFUIF DVSSFOUJOQVUDIBSBDUFS Q JOUIF TDSJQUEBUBEPVCMFFTDBQFETUBUF Q 

        ?@IL?;NNLC<ON?H;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4UBZJOUIF CFGPSFBUUSJCVUFOBNFTUBUF Q 

    X 1 "/+(% 1/ 
    4XJUDIUPUIF TFMGDMPTJOHTUBSUUBHTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOUUBHUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    4UBSUBOFXBUUSJCVUFJOUIFDVSSFOUUBHUPLFO4FUUIBUBUUSJCVUFTOBNFUPUIFMPXFSDBTFWFSTJPOPGUIF
    DVSSFOUJOQVUDIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    BOEJUTWBMVFUPUIFFNQUZTUSJOH
    4XJUDIUPUIF BUUSJCVUFOBNFTUBUF Q 

    X 1 -1+00%+*).'
    X 1 ,+/0.+,$!
    X 1 (!// 0$*/%#*
    X 1  !-1(//%#*
    1BSTFFSSPS Q 5SFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    4UBSUBOFXBUUSJCVUFJOUIFDVSSFOUUBHUPLFO4FUUIBUBUUSJCVUFTOBNFUPUIF DVSSFOUJOQVUDIBSBDUFS Q
    BOEJUTWBMVFUPUIFFNQUZTUSJOH4XJUDIUPUIF BUUSJCVUFOBNFTUBUF Q 

        NNLC<ON?H;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    
    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4XJUDIUPUIF BGUFSBUUSJCVUFOBNFTUBUF Q 

    X 1 "/+(% 1/ 
    4XJUDIUPUIF TFMGDMPTJOHTUBSUUBHTUBUF Q 

    X 1  !-1(//%#*
    4XJUDIUPUIF CFGPSFBUUSJCVUFWBMVFTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOUUBHUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    "QQFOEUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU

    UPUIFDVSSFOUBUUSJCVUFTOBNF4UBZJOUIF BUUSJCVUFOBNFTUBUF Q 

    X 1 -1+00%+*).'
    X 1 ,+/0.+,$!
    X 1 (!// 0$*/%#*
    1BSTFFSSPS Q 5SFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOUBUUSJCVUFTOBNF4UBZJOUIF BUUSJCVUFOBNFTUBUF Q 

    8IFOUIFVTFSBHFOUMFBWFTUIFBUUSJCVUFOBNFTUBUF BOECFGPSFFNJUUJOHUIFUBHUPLFO JGBQQSPQSJBUF


    UIFDPNQMFUF
    BUUSJCVUFTOBNFNVTUCFDPNQBSFEUPUIFPUIFSBUUSJCVUFTPOUIFTBNFUPLFOJGUIFSFJTBMSFBEZBOBUUSJCVUFPOUIF
    UPLFOXJUIUIFFYBDUTBNFOBNF UIFOUIJTJTB QBSTFFSSPS Q BOEUIFOFXBUUSJCVUFNVTUCFESPQQFE BMPOHXJUIUIF
    WBMVFUIBUHFUTBTTPDJBUFEXJUIJU JGBOZ
    

        @N?L;NNLC<ON?H;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4UBZJOUIF BGUFSBUUSJCVUFOBNFTUBUF Q 

    X 1 "/+(% 1/ 
    4XJUDIUPUIF TFMGDMPTJOHTUBSUUBHTUBUF Q 

    X 1  !-1(//%#*
    4XJUDIUPUIF CFGPSFBUUSJCVUFWBMVFTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOUUBHUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    4UBSUBOFXBUUSJCVUFJOUIFDVSSFOUUBHUPLFO4FUUIBUBUUSJCVUFTOBNFUPUIFMPXFSDBTFWFSTJPOPGUIF
    DVSSFOUJOQVUDIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    BOEJUTWBMVFUPUIFFNQUZTUSJOH
    4XJUDIUPUIF BUUSJCVUFOBNFTUBUF Q 

    X 1 -1+00%+*).'
    X 1 ,+/0.+,$!
    X 1 (!// 0$*/%#*
    1BSTFFSSPS Q 5SFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    
    X HSNBCHA?FM?
    4UBSUBOFXBUUSJCVUFJOUIFDVSSFOUUBHUPLFO4FUUIBUBUUSJCVUFTOBNFUPUIF DVSSFOUJOQVUDIBSBDUFS Q
    BOEJUTWBMVFUPUIFFNQUZTUSJOH4XJUDIUPUIF BUUSJCVUFOBNFTUBUF Q 

        ?@IL?;NNLC<ON?P;FO?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4UBZJOUIF CFGPSFBUUSJCVUFWBMVFTUBUF Q 

    X 1 -1+00%+*).'
    4XJUDIUPUIF BUUSJCVUFWBMVF EPVCMFRVPUFE
    TUBUF Q 

    X 1 ),!./* 
    4XJUDIUPUIF BUUSJCVUFWBMVF VORVPUFE
    TUBUF Q BOESFDPOTVNFUIJT DVSSFOUJOQVUDIBSBDUFS Q 

    X 1 ,+/0.+,$!
    4XJUDIUPUIF BUUSJCVUFWBMVF TJOHMFRVPUFE
    TUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q &NJUUIFDVSSFOUUBHUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X 1 (!// 0$*/%#*
    X 1  !-1(//%#*
    X 1 #.2!!*0:
    1BSTFFSSPS Q 5SFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOUBUUSJCVUFTWBMVF4XJUDIUPUIF BUUSJCVUFWBMVF
    VORVPUFE
    TUBUF Q 

        NNLC<ON?P;FO?>IO<F? KOIN?>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 -1+00%+*).'
    4XJUDIUPUIF BGUFSBUUSJCVUFWBMVF RVPUFE
    TUBUF Q 

    X 1 ),!./* 
    4XJUDIUPUIF DIBSBDUFSSFGFSFODFJOBUUSJCVUFWBMVFTUBUF Q XJUIUIF BEEJUJPOBMBMMPXFEDIBSBDUFS Q CFJOH
    6 2605"5*0/."3, 
    

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOUBUUSJCVUFTWBMVF4UBZJOUIF BUUSJCVUFWBMVF EPVCMF
    RVPUFE
    TUBUF Q 

        NNLC<ON?P;FO?MCHAF? KOIN?>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 ,+/0.+,$!
    4XJUDIUPUIF BGUFSBUUSJCVUFWBMVF RVPUFE
    TUBUF Q 

    X 1 ),!./* 
    4XJUDIUPUIF DIBSBDUFSSFGFSFODFJOBUUSJCVUFWBMVFTUBUF Q XJUIUIF BEEJUJPOBMBMMPXFEDIBSBDUFS Q CFJOH
    6 "1045301)& 
    

    
    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOUBUUSJCVUFTWBMVF4UBZJOUIF BUUSJCVUFWBMVF TJOHMF
    RVPUFE
    TUBUF Q 

        NNLC<ON?P;FO?OHKOIN?>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4XJUDIUPUIF CFGPSFBUUSJCVUFOBNFTUBUF Q 

    X 1 ),!./* 
    4XJUDIUPUIF DIBSBDUFSSFGFSFODFJOBUUSJCVUFWBMVFTUBUF Q XJUIUIF BEEJUJPOBMBMMPXFEDIBSBDUFS Q CFJOH
    6 &(3&"5&35)"/4*(/ 
    

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOUUBHUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X 1 -1+00%+*).'
    X 1 ,+/0.+,$!
    X 1 (!// 0$*/%#*
    X 1  !-1(//%#*
    X 1 #.2!!*0:
    1BSTFFSSPS Q 5SFBUJUBTQFSUIFBOZUIJOHFMTFFOUSZCFMPX

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOUBUUSJCVUFTWBMVF4UBZJOUIF BUUSJCVUFWBMVF VORVPUFE

    TUBUF Q 

        B;L;=N?LL?@?L?H=?CH;NNLC<ON?P;FO?MN;N?

    "UUFNQUUP DPOTVNFBDIBSBDUFSSFGFSFODF Q 

    *GOPUIJOHJTSFUVSOFE BQQFOEB6 ".1&34"/%DIBSBDUFSUPUIFDVSSFOUBUUSJCVUFTWBMVF

    0UIFSXJTF BQQFOEUIFSFUVSOFEDIBSBDUFSUPLFOUPUIFDVSSFOUBUUSJCVUFTWBMVF

    'JOBMMZ TXJUDICBDLUPUIFBUUSJCVUFWBMVFTUBUFUIBUZPVXFSFJOXIFOXFSFTXJUDIFEJOUPUIJTTUBUF

        @N?L;NNLC<ON?P;FO?KOIN?>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4XJUDIUPUIF CFGPSFBUUSJCVUFOBNFTUBUF Q 

    X 1 "/+(% 1/ 
    4XJUDIUPUIF TFMGDMPTJOHTUBSUUBHTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOUUBHUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    
    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 3FDPOTVNFUIFDIBSBDUFSJOUIF CFGPSFBUUSJCVUFOBNFTUBUF Q 

        /?F@ =FIMCHAMN;LNN;AMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 !#.!0!. 0$*/%#*
    4FUUIF B4;52;>B8=6Q06 PGUIFDVSSFOUUBHUPLFO&NJUUIFDVSSFOUUBHUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X !+"
    1BSTFFSSPS Q 3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 3FDPOTVNFUIFDIBSBDUFSJOUIF CFGPSFBUUSJCVUFOBNFTUBUF Q 

        IAOM=IGG?HNMN;N?

    $POTVNFFWFSZDIBSBDUFSVQUPBOEJODMVEJOHUIFИSTU6 &(3&"5&35)"/4*(/DIBSBDUFS 
    PSUIFFOEPGUIF
    ИMF &0'
    XIJDIFWFSDPNFTИSTU&NJUBDPNNFOUUPLFOXIPTFEBUBJTUIFDPODBUFOBUJPOPGBMMUIFDIBSBDUFSTTUBSUJOH
    GSPNBOEJODMVEJOHUIFDIBSBDUFSUIBUDBVTFEUIFTUBUFNBDIJOFUPTXJUDIJOUPUIFCPHVTDPNNFOUTUBUF VQUPBOE
    JODMVEJOHUIFDIBSBDUFSJNNFEJBUFMZCFGPSFUIFMBTUDPOTVNFEDIBSBDUFS JFVQUPUIFDIBSBDUFSKVTUCFGPSFUIF
    6 &PS&0'DIBSBDUFS
     *GUIFDPNNFOUXBTTUBSUFECZUIFFOEPGUIFИMF &0'
    UIFUPLFOJTFNQUZ

    4XJUDIUPUIF EBUBTUBUF Q 

    *GUIFFOEPGUIFИMFXBTSFBDIFE SFDPOTVNFUIF&0'DIBSBDUFS

        );LEOJ>?=F;L;NCIHIJ?HMN;N?

    *GUIFOFYUUXPDIBSBDUFSTBSFCPUI6 %):1)&/.*/64DIBSBDUFST 
    DPOTVNFUIPTFUXPDIBSBDUFST DSFBUFB
    DPNNFOUUPLFOXIPTFEBUBJTUIFFNQUZTUSJOH BOETXJUDIUPUIF DPNNFOUTUBSUTUBUF Q 

    0UIFSXJTF JGUIFOFYUTFWFODIBSBDUFSTBSFBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFXPSE%0$5:1& UIFODPOTVNF


    UIPTFDIBSBDUFSTBOETXJUDIUPUIF %0$5:1&TUBUF Q 

    0UIFSXJTF JGUIF JOTFSUJPONPEF Q JTJOGPSFJHODPOUFOU Q BOEUIF DVSSFOUOPEF Q JTOPUBOFMFNFOUJOUIF )5.-
    OBNFTQBDF Q BOEUIFOFYUTFWFODIBSBDUFSTBSFBO DBTFTFOTJUJWF Q NBUDIGPSUIFTUSJOH<$%"5"< UIFИWF
    VQQFSDBTFMFUUFST$%"5"XJUIB6 #-&'5426"3&#3"$,&5DIBSBDUFSCFGPSFBOEBGUFS
    UIFODPOTVNFUIPTF
    DIBSBDUFSTBOETXJUDIUPUIF $%"5"TFDUJPOTUBUF Q 

    0UIFSXJTF UIJTJTB QBSTFFSSPS Q 4XJUDIUPUIF CPHVTDPNNFOUTUBUF Q 5IFOFYUDIBSBDUFSUIBUJTDPOTVNFE JG


    BOZ JTUIFИSTUDIBSBDUFSUIBUXJMMCFJOUIFDPNNFOU

        IGG?HNMN;LNMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    4XJUDIUPUIF DPNNFOUTUBSUEBTITUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q &NJUUIFDPNNFOUUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X !+"
    1BSTFFSSPS Q &NJUUIFDPNNFOUUPLFO3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDPNNFOUUPLFOTEBUB4XJUDIUPUIF DPNNFOUTUBUF Q 

    
        IGG?HNMN;LN>;MBMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    4XJUDIUPUIF DPNNFOUFOETUBUF Q

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q &NJUUIFDPNNFOUUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X !+"
    1BSTFFSSPS Q &NJUUIFDPNNFOUUPLFO3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEB6 %):1)&/.*/64DIBSBDUFS 
    BOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDPNNFOUUPLFOT
    EBUB4XJUDIUPUIF DPNNFOUTUBUF Q 

        IGG?HNMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    4XJUDIUPUIF DPNNFOUFOEEBTITUBUF Q

    X !+"
    1BSTFFSSPS Q &NJUUIFDPNNFOUUPLFO3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDPNNFOUUPLFOTEBUB4UBZJOUIF DPNNFOUTUBUF Q 

        IGG?HN?H>>;MBMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    4XJUDIUPUIF DPNNFOUFOETUBUF Q

    X !+"
    1BSTFFSSPS Q &NJUUIFDPNNFOUUPLFO3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEB6 %):1)&/.*/64DIBSBDUFS 
    BOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDPNNFOUUPLFOT
    EBUB4XJUDIUPUIF DPNNFOUTUBUF Q 

        IGG?HN?H>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDPNNFOUUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    1BSTFFSSPS Q "QQFOEUXP6 %):1)&/.*/64DIBSBDUFST 
    BOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF
    DPNNFOUUPLFOTEBUB4XJUDIUPUIF DPNNFOUFOETQBDFTUBUF Q 

    X 1 !4()0%+*).'
    1BSTFFSSPS Q 4XJUDIUPUIF DPNNFOUFOECBOHTUBUF Q 

    X 1  $5,$!* )%*1/ 


    1BSTFFSSPS Q "QQFOEB6 %):1)&/.*/64DIBSBDUFS 
    UPUIFDPNNFOUUPLFOTEBUB4UBZJOUIF
    DPNNFOUFOETUBUF Q 

    X !+"
    1BSTFFSSPS Q &NJUUIFDPNNFOUUPLFO3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    
    X HSNBCHA?FM?
    1BSTFFSSPS Q "QQFOEUXP6 %):1)&/.*/64DIBSBDUFST 
    BOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIF
    DPNNFOUUPLFOTEBUB4XJUDIUPUIF DPNNFOUTUBUF Q 

        IGG?HN?H><;HAMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1  $5,$!* )%*1/ 


    "QQFOEUXP6 %):1)&/.*/64DIBSBDUFST 
    BOEB6 &9$-"."5*0/."3,DIBSBDUFS 
    UPUIF
    DPNNFOUUPLFOTEBUB4XJUDIUPUIF DPNNFOUFOEEBTITUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDPNNFOUUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X !+"
    1BSTFFSSPS Q &NJUUIFDPNNFOUUPLFO3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUXP6 %):1)&/.*/64DIBSBDUFST 
    B6 &9$-"."5*0/."3,DIBSBDUFS 
    BOEUIF
    DVSSFOUJOQVUDIBSBDUFS Q UPUIFDPNNFOUUPLFOTEBUB4XJUDIUPUIF DPNNFOUTUBUF Q 

        IGG?HN?H>MJ;=?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDPNNFOUUPLFOTEBUB4UBZJOUIF DPNNFOUFOETQBDF
    TUBUF Q 

    X 1  $5,$!* )%*1/ 


    4XJUDIUPUIF DPNNFOUFOEEBTITUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDPNNFOUUPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X !+"
    1BSTFFSSPS Q &NJUUIFDPNNFOUUPLFO3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDPNNFOUUPLFOTEBUB4XJUDIUPUIF DPNNFOUTUBUF Q 

        +05,!MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4XJUDIUPUIF CFGPSF%0$5:1&OBNFTUBUF Q 

    X !+"
    1BSTFFSSPS Q $SFBUFBOFX%0$5:1&UPLFO4FUJUT 5>A24@D8A:BQ06 UP >=&NJUUIFUPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 3FDPOTVNFUIFDIBSBDUFSJOUIF CFGPSF%0$5:1&OBNFTUBUF Q 

    
        ?@IL? +05,!H;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4UBZJOUIF CFGPSF%0$5:1&OBNFTUBUF Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    $SFBUFBOFX%0$5:1&UPLFO4FUUIFUPLFOTOBNFUPUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVU
    DIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU
    4XJUDIUPUIF %0$5:1&OBNFTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q $SFBUFBOFX%0$5:1&UPLFO4FUJUT 5>A24@D8A:BQ06 UP >=&NJUUIFUPLFO4XJUDIUPUIF
    EBUBTUBUF Q 

    X !+"
    1BSTFFSSPS Q $SFBUFBOFX%0$5:1&UPLFO4FUJUT 5>A24@D8A:BQ06 UP >=&NJUUIFUPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    $SFBUFBOFX%0$5:1&UPLFO4FUUIFUPLFOTOBNFUPUIF DVSSFOUJOQVUDIBSBDUFS Q 4XJUDIUPUIF
    %0$5:1&OBNFTUBUF Q 

        +05,!H;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4XJUDIUPUIF BGUFS%0$5:1&OBNFTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOU%0$5:1&UPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X 1 (0%*,%0((!00!.NBLIOABNI1 (0%*,%0((!00!.6
    "QQFOEUIFMPXFSDBTFWFSTJPOPGUIF DVSSFOUJOQVUDIBSBDUFS Q BEEYUPUIFDIBSBDUFSTDPEFQPJOU

    UPUIFDVSSFOU%0$5:1&UPLFOTOBNF4UBZJOUIF %0$5:1&OBNFTUBUF Q 

    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOU%0$5:1&UPLFOTOBNF4UBZJOUIF %0$5:1&OBNF
    TUBUF Q 

        @N?L +05,!H;G?MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4UBZJOUIF BGUFS%0$5:1&OBNFTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOU%0$5:1&UPLFO4XJUDIUPUIF EBUBTUBUF Q 

    
    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    *GUIFTJYDIBSBDUFSTTUBSUJOHGSPNUIF DVSSFOUJOQVUDIBSBDUFS Q BSFBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPS
    UIFXPSE16#-*$ UIFODPOTVNFUIPTFDIBSBDUFSTBOETXJUDIUPUIF BGUFS%0$5:1&QVCMJDLFZXPSE
    TUBUF Q 

    0UIFSXJTF JGUIFTJYDIBSBDUFSTTUBSUJOHGSPNUIF DVSSFOUJOQVUDIBSBDUFS Q BSFBO "4$**DBTFJOTFOTJUJWF Q


    NBUDIGPSUIFXPSE4:45&. UIFODPOTVNFUIPTFDIBSBDUFSTBOETXJUDIUPUIF BGUFS%0$5:1&TZTUFN
    LFZXPSETUBUF Q 

    0UIFSXJTF UIJTJTUIF QBSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=4XJUDIUPUIF CPHVT


    %0$5:1&TUBUF Q 

        @N?L +05,!JO<FC=E?SQIL>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4XJUDIUPUIF CFGPSF%0$5:1&QVCMJDJEFOUJИFSTUBUF Q 

    X 1 -1+00%+*).'
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOTQVCMJDJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUPUIF
    %0$5:1&QVCMJDJEFOUJИFS EPVCMFRVPUFE
    TUBUF Q 

    X 1 ,+/0.+,$!
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOTQVCMJDJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUPUIF
    %0$5:1&QVCMJDJEFOUJИFS TJOHMFRVPUFE
    TUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO4XJUDIUPUIF EBUB
    TUBUF Q 

    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=4XJUDIUPUIF CPHVT%0$5:1&TUBUF Q 

        ?@IL? +05,!JO<FC=C>?HNC]?LMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4UBZJOUIF CFGPSF%0$5:1&QVCMJDJEFOUJИFSTUBUF Q 

    X 1 -1+00%+*).'
    4FUUIF%0$5:1&UPLFOTQVCMJDJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUPUIF %0$5:1&
    QVCMJDJEFOUJИFS EPVCMFRVPUFE
    TUBUF Q 

    X 1 ,+/0.+,$!
    4FUUIF%0$5:1&UPLFOTQVCMJDJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUPUIF %0$5:1&
    QVCMJDJEFOUJИFS TJOHMFRVPUFE
    TUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO4XJUDIUPUIF EBUB
    TUBUF Q 

    
    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=4XJUDIUPUIF CPHVT%0$5:1&TUBUF Q 

        +05,!JO<FC=C>?HNC]?L>IO<F? KOIN?>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 -1+00%+*).'
    4XJUDIUPUIF BGUFS%0$5:1&QVCMJDJEFOUJИFSTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO4XJUDIUPUIF EBUB
    TUBUF Q 

    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOU%0$5:1&UPLFOTQVCMJDJEFOUJИFS4UBZJOUIF %0$5:1&
    QVCMJDJEFOUJИFS EPVCMFRVPUFE
    TUBUF Q 

        +05,!JO<FC=C>?HNC]?LMCHAF? KOIN?>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 ,+/0.+,$!
    4XJUDIUPUIF BGUFS%0$5:1&QVCMJDJEFOUJИFSTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO4XJUDIUPUIF EBUB
    TUBUF Q 

    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOU%0$5:1&UPLFOTQVCMJDJEFOUJИFS4UBZJOUIF %0$5:1&
    QVCMJDJEFOUJИFS TJOHMFRVPUFE
    TUBUF Q 

        @N?L +05,!JO<FC=C>?HNC]?LMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4XJUDIUPUIF CFUXFFO%0$5:1&QVCMJDBOETZTUFNJEFOUJИFSTTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOU%0$5:1&UPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X 1 -1+00%+*).'
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOTTZTUFNJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUP
    UIF %0$5:1&TZTUFNJEFOUJИFS EPVCMFRVPUFE
    TUBUF Q 

    X 1 ,+/0.+,$!
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOTTZTUFNJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUP
    UIF %0$5:1&TZTUFNJEFOUJИFS TJOHMFRVPUFE
    TUBUF Q 

    
    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=4XJUDIUPUIF CPHVT%0$5:1&TUBUF Q 

        ?NQ??H +05,!JO<FC=;H>MSMN?GC>?HNC]?LMMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4UBZJOUIF CFUXFFO%0$5:1&QVCMJDBOETZTUFNJEFOUJИFSTTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOU%0$5:1&UPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X 1 -1+00%+*).'
    4FUUIF%0$5:1&UPLFOTTZTUFNJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUPUIF %0$5:1&
    TZTUFNJEFOUJИFS EPVCMFRVPUFE
    TUBUF Q 

    X 1 ,+/0.+,$!
    4FUUIF%0$5:1&UPLFOTTZTUFNJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUPUIF %0$5:1&
    TZTUFNJEFOUJИFS TJOHMFRVPUFE
    TUBUF Q 

    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=4XJUDIUPUIF CPHVT%0$5:1&TUBUF Q 

        @N?L +05,!MSMN?GE?SQIL>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4XJUDIUPUIF CFGPSF%0$5:1&TZTUFNJEFOUJИFSTUBUF Q 

    X 1 -1+00%+*).'
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOTTZTUFNJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUP
    UIF %0$5:1&TZTUFNJEFOUJИFS EPVCMFRVPUFE
    TUBUF Q 

    X 1 ,+/0.+,$!
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOTTZTUFNJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUP
    UIF %0$5:1&TZTUFNJEFOUJИFS TJOHMFRVPUFE
    TUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO4XJUDIUPUIF EBUB
    TUBUF Q 

    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=4XJUDIUPUIF CPHVT%0$5:1&TUBUF Q 

    
        ?@IL? +05,!MSMN?GC>?HNC]?LMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4UBZJOUIF CFGPSF%0$5:1&TZTUFNJEFOUJИFSTUBUF Q 

    X 1 -1+00%+*).'
    4FUUIF%0$5:1&UPLFOTTZTUFNJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUPUIF %0$5:1&
    TZTUFNJEFOUJИFS EPVCMFRVPUFE
    TUBUF Q 

    X 1 ,+/0.+,$!
    4FUUIF%0$5:1&UPLFOTTZTUFNJEFOUJИFSUPUIFFNQUZTUSJOH OPUNJTTJOH
    UIFOTXJUDIUPUIF %0$5:1&
    TZTUFNJEFOUJИFS TJOHMFRVPUFE
    TUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO4XJUDIUPUIF EBUB
    TUBUF Q 

    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=4XJUDIUPUIF CPHVT%0$5:1&TUBUF Q 

        +05,!MSMN?GC>?HNC]?L>IO<F? KOIN?>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 -1+00%+*).'
    4XJUDIUPUIF BGUFS%0$5:1&TZTUFNJEFOUJИFSTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO4XJUDIUPUIF EBUB
    TUBUF Q 

    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOU%0$5:1&UPLFOTTZTUFNJEFOUJИFS4UBZJOUIF
    %0$5:1&TZTUFNJEFOUJИFS EPVCMFRVPUFE
    TUBUF Q 

        +05,!MSMN?GC>?HNC]?LMCHAF? KOIN?>MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 ,+/0.+,$!
    4XJUDIUPUIF BGUFS%0$5:1&TZTUFNJEFOUJИFSTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO4XJUDIUPUIF EBUB
    TUBUF Q 

    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    "QQFOEUIF DVSSFOUJOQVUDIBSBDUFS Q UPUIFDVSSFOU%0$5:1&UPLFOTTZTUFNJEFOUJИFS4UBZJOUIF
    %0$5:1&TZTUFNJEFOUJИFS TJOHMFRVPUFE
    TUBUF Q 

    
        @N?L +05,!MSMN?GC>?HNC]?LMN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    4UBZJOUIF BGUFS%0$5:1&TZTUFNJEFOUJИFSTUBUF Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIFDVSSFOU%0$5:1&UPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X !+"
    1BSTFFSSPS Q 4FUUIF%0$5:1&UPLFOT 5>A24@D8A:BQ06 UP >=&NJUUIBU%0$5:1&UPLFO3FDPOTVNFUIF
    &0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 4XJUDIUPUIF CPHVT%0$5:1&TUBUF Q  5IJTEPFT =>C TFUUIF%0$5:1&UPLFOT 5>A24@D8A:B
    Q06 UP >=

        IAOM +05,!MN;N?

    $POTVNFUIF OFYUJOQVUDIBSBDUFS Q 

    X 1 !#.!0!. 0$*/%#*
    &NJUUIF%0$5:1&UPLFO4XJUDIUPUIF EBUBTUBUF Q 

    X !+"
    &NJUUIF%0$5:1&UPLFO3FDPOTVNFUIF&0'DIBSBDUFSJOUIF EBUBTUBUF Q 

    X HSNBCHA?FM?
    4UBZJOUIF CPHVT%0$5:1&TUBUF Q 

         0M?=NCIHMN;N?

    $POTVNFFWFSZDIBSBDUFSVQUPUIFOFYUPDDVSSFODFPGUIFUISFFDIBSBDUFSTFRVFODF6 %3*()5426"3&
    #3"$,&56 %3*()5426"3&#3"$,&56 &(3&"5&35)"/4*(/ >>
    PSUIFFOEPGUIFИMF &0'

    XIJDIFWFSDPNFTИSTU&NJUBTFSJFTPGDIBSBDUFSUPLFOTDPOTJTUJOHPGBMMUIFDIBSBDUFSTDPOTVNFEFYDFQUUIF
    NBUDIJOHUISFFDIBSBDUFSTFRVFODFBUUIFFOE JGPOFXBTGPVOECFGPSFUIFFOEPGUIFИMF
    

    4XJUDIUPUIF EBUBTUBUF Q 

    *GUIFFOEPGUIFИMFXBTSFBDIFE SFDPOTVNFUIF&0'DIBSBDUFS

        0IE?HCTCHA=B;L;=N?LL?@?L?H=?M

    5IJTTFDUJPOEFИOFTIPXUP =IHMOG?;=B;L;=N?LL?@?L?H=?5IJTEFИOJUJPOJTVTFEXIFOQBSTJOHDIBSBDUFS
    SFGFSFODFT JOUFYU Q BOE JOBUUSJCVUFT Q 

    5IFCFIBWJPSEFQFOETPOUIFJEFOUJUZPGUIFOFYUDIBSBDUFS UIFPOFJNNFEJBUFMZBGUFSUIF6 ".1&34"/%


    DIBSBDUFS
    

    X 1 $.0!.01(0%+*
    X 1 (%*!"!! ("
    X 1 "+.)"!! ""
    X 1 /,!
    X 1 (!// 0$*/%#*
    X 1 ),!./*
    X !+"
    X 0B? :==BMBHG:E:EEHP>=<A:K:<M>K
    C@NB?L?CMIH?
    /PUBDIBSBDUFSSFGFSFODF/PDIBSBDUFSTBSFDPOTVNFE BOEOPUIJOHJTSFUVSOFE 5IJTJTOPUBOFSSPS FJUIFS

    
    X 1 *1)!./%#*
    $POTVNFUIF6 /6.#&34*(/

    5IFCFIBWJPSGVSUIFSEFQFOETPOUIFDIBSBDUFSBGUFSUIF6 /6.#&34*(/

    X 1 (0%*/)(((!00!.4
    X 1 (0%*,%0((!00!.4
    $POTVNFUIF9

    'PMMPXUIFTUFQTCFMPX CVUVTJOHUIFSBOHFPGDIBSBDUFST6 %*(*5;&30 


    UP6 %*(*5
    /*/& 
    6 -"5*/4."---&55&3"UP6 -"5*/4."---&55&3' BOE6 -"5*/
    $"1*5"--&55&3"UP6 -"5*/$"1*5"--&55&3' JOPUIFSXPSET  "' BG
    

    8IFOJUDPNFTUPJOUFSQSFUJOHUIFOVNCFS JOUFSQSFUJUBTBIFYBEFDJNBMOVNCFS

    X HSNBCHA?FM?
    'PMMPXUIFTUFQTCFMPX CVUVTJOHUIFSBOHFPGDIBSBDUFST6 %*(*5;&30 
    UP6 %*(*5
    /*/& 
    

    8IFOJUDPNFTUPJOUFSQSFUJOHUIFOVNCFS JOUFSQSFUJUBTBEFDJNBMOVNCFS

    $POTVNFBTNBOZDIBSBDUFSTBTNBUDIUIFSBOHFPGDIBSBDUFSTHJWFOBCPWF

    *GOPDIBSBDUFSTNBUDIUIFSBOHF UIFOEPOUDPOTVNFBOZDIBSBDUFST BOEVODPOTVNFUIF6 /6.#&3


    4*(/DIBSBDUFSBOE JGBQQSPQSJBUF UIF9DIBSBDUFS
    5IJTJTB QBSTFFSSPS Q OPUIJOHJTSFUVSOFE

    0UIFSXJTF JGUIFOFYUDIBSBDUFSJTB6 #4&.*$0-0/ DPOTVNFUIBUUPP*GJUJTOU UIFSFJTB QBSTF


    FSSPS Q 

    *GPOFPSNPSFDIBSBDUFSTNBUDIUIFSBOHF UIFOUBLFUIFNBMMBOEJOUFSQSFUUIFTUSJOHPGDIBSBDUFSTBTB
    OVNCFS FJUIFSIFYBEFDJNBMPSEFDJNBMBTBQQSPQSJBUF
    

    *GUIBUOVNCFSJTPOFPGUIFOVNCFSTJOUIFИSTUDPMVNOPGUIFGPMMPXJOHUBCMF UIFOUIJTJTB QBSTFFSSPS Q 


    'JOEUIFSPXXJUIUIBUOVNCFSJOUIFИSTUDPMVNO BOESFUVSOBDIBSBDUFSUPLFOGPSUIF6OJDPEFDIBSBDUFS
    HJWFOJOUIFTFDPOEDPMVNOPGUIBUSPX

    *OG<?L 1HC=I>?=B;L;=N?L

    Y 6 '''% 3&1-"$&.&/5$)"3"$5&3


    Y% 6 % $"33*"(&3&563/ $3

    Y 6 "$ &6304*(/ ǿ

    Y 6  DPOUSPM


    Y 6 " 4*/(-&-082605"5*0/."3, Ǧ

    Y 6  -"5*/4."---&55&3'8*5))00, Ķ

    Y 6 & %06#-&-082605"5*0/."3, ǩ

    Y 6  )03*;0/5"-&--*14*4 Ǯ

    Y 6  %"((&3 Ǫ

    Y 6  %06#-&%"((&3 ǫ

    Y 6 $ .0%*'*&3-&55&3$*3$6.'-&9"$$&/5 ĺ

    Y 6  1&3.*--&4*(/ ǯ

    Y" 6  -"5*/$"1*5"--&55&348*5)$"30/ ė

    Y# 6  4*/(-&-&'510*/5*/("/(-&2605"5*0/."3, ǵ

    Y$ 6  -"5*/$"1*5"--*("563&0& ĉ

    Y% 6 % DPOUSPM


    Y& 6 % -"5*/$"1*5"--&55&3;8*5)$"30/ Ĵ

    Y' 6 ' DPOUSPM


    Y 6  DPOUSPM
    Y 6  -&'54*/(-&2605"5*0/."3, Ǥ

    Y 6  3*()54*/(-&2605"5*0/."3, ǥ

    Y 6 $ -&'5%06#-&2605"5*0/."3, ǧ

    Y 6 % 3*()5%06#-&2605"5*0/."3, Ǩ

    Y 6  #6--&5 Ǭ

    Y 6  &/%"4) Ǡ

    Y 6  &.%"4) ǡ

    Y 6 %$ 4."--5*-%& ŀ

    Y 6  53"%&."3,4*(/ ȕ

    
    *OG<?L 1HC=I>?=B;L;=N?L
    Y" 6  -"5*/4."---&55&348*5)$"30/ Ę

    Y# 6 " 4*/(-&3*()510*/5*/("/(-&2605"5*0/."3, Ƕ

    Y$ 6  -"5*/4."---*("563&0& Ċ

    Y% 6 % DPOUSPM


    Y& 6 & -"5*/4."---&55&3;8*5)$"30/ ĵ

    Y' 6  -"5*/$"1*5"--&55&3:8*5)%*"&3&4*4 į

    0UIFSXJTF JGUIFOVNCFSJTJOUIFSBOHFY%UPY%'''PSJTHSFBUFSUIBOY'''' UIFOUIJTJTB QBSTF


    FSSPS Q 3FUVSOB6 '''%3&1-"$&.&/5$)"3"$5&3

    0UIFSXJTF SFUVSOBDIBSBDUFSUPLFOGPSUIF6OJDPEFDIBSBDUFSXIPTFDPEFQPJOUJTUIBUOVNCFS*GUIF
    OVNCFSJTJOUIFSBOHFYUPY Y&UPY' Y'UPY' Y'%%UPY'%&' PSJT
    POFPGY# Y'''& Y'''' Y'''& Y'''' Y'''& Y'''' Y'''& Y'''' Y'''& Y''''
    Y'''& Y'''' Y'''& Y'''' Y'''& Y'''' Y'''& Y'''' Y'''& Y'''' Y"'''&
    Y"'''' Y#'''& Y#'''' Y$'''& Y$'''' Y%'''& Y%'''' Y&'''& Y&'''' Y''''& Y'''''
    Y'''& PSY'''' UIFOUIJTJTB QBSTFFSSPS Q 

    X HSNBCHA?FM?
    $POTVNFUIFNBYJNVNOVNCFSPGDIBSBDUFSTQPTTJCMF XJUIUIFDPOTVNFEDIBSBDUFSTNBUDIJOHPOFPGUIF
    JEFOUJИFSTJOUIFИSTUDPMVNOPGUIF OBNFEDIBSBDUFSSFGFSFODFT Q UBCMF JOB DBTFTFOTJUJWF Q NBOOFS
    

    *GOPNBUDIDBOCFNBEF UIFOOPDIBSBDUFSTBSFDPOTVNFE BOEOPUIJOHJTSFUVSOFE*OUIJTDBTF JGUIF


    DIBSBDUFSTBGUFSUIF6 ".1&34"/%DIBSBDUFS 
    DPOTJTUPGBTFRVFODFPGPOFPSNPSFDIBSBDUFSTJO
    UIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    6 -"5*/4."---&55&3"UP6 "
    -"5*/4."---&55&3; BOE6 -"5*/$"1*5"--&55&3"UP6 "-"5*/$"1*5"--&55&3; GPMMPXFE
    CZB6 #4&.*$0-0/DIBSBDUFS 
    UIFOUIJTJTB QBSTFFSSPS Q 

    *GUIFDIBSBDUFSSFGFSFODFJTCFJOHDPOTVNFE BTQBSUPGBOBUUSJCVUF Q BOEUIFMBTUDIBSBDUFSNBUDIFEJTOPU


    B6 #4&.*$0-0/DIBSBDUFS 
    BOEUIFOFYUDIBSBDUFSJTFJUIFSB6 %&26"-44*(/DIBSBDUFS 

    PSJOUIFSBOHF6 %*(*5;&30 
    UP6 %*(*5/*/& 
    6 -"5*/$"1*5"--&55&3"UP
    6 "-"5*/$"1*5"--&55&3; PS6 -"5*/4."---&55&3"UP6 "-"5*/4."---&55&3;
    UIFO GPSIJTUPSJDBMSFBTPOT BMMUIFDIBSBDUFSTUIBUXFSFNBUDIFEBGUFSUIF6 ".1&34"/%DIBSBDUFS
    
    NVTUCFVODPOTVNFE BOEOPUIJOHJTSFUVSOFE

    0UIFSXJTF BDIBSBDUFSSFGFSFODFJTQBSTFE*GUIFMBTUDIBSBDUFSNBUDIFEJTOPUB6 #4&.*$0-0/


    DIBSBDUFS 
    UIFSFJTB QBSTFFSSPS Q 

    3FUVSOBDIBSBDUFSUPLFOGPSUIFDIBSBDUFSDPSSFTQPOEJOHUPUIFDIBSBDUFSSFGFSFODFOBNF BTHJWFOCZUIF
    TFDPOEDPMVNOPGUIF OBNFEDIBSBDUFSSFGFSFODFT Q UBCMF
    

    *GUIFNBSLVQDPOUBJOT OPUJOBOBUUSJCVUF
    UIFTUSJOH *NOPUJU*UFMMZPV UIFDIBSBDUFS
    SFGFSFODFJTQBSTFEBTOPU BTJO *NbJU*UFMMZPV BOEUIJTJTBQBSTFFSSPS
    #VUJGUIFNBSLVQ
    XBT *NOPUJO*UFMMZPV UIFDIBSBDUFSSFGFSFODFXPVMECFQBSTFEBTOPUJO SFTVMUJOHJO *N}
    *UFMMZPV BOEOPQBSTFFSSPS
    

       0L??=IHMNLO=NCIH

    5IFJOQVUUPUIFUSFFDPOTUSVDUJPOTUBHFJTBTFRVFODFPGUPLFOTGSPNUIF UPLFOJ[BUJPO Q TUBHF5IFUSFFDPOTUSVDUJPO


    TUBHFJTBTTPDJBUFEXJUIB%0. %PDVNFOU Q PCKFDUXIFOBQBSTFSJTDSFBUFE5IFPVUQVUPGUIJTTUBHFDPOTJTUTPG
    EZOBNJDBMMZNPEJGZJOHPSFYUFOEJOHUIBUEPDVNFOUT%0.USFF

    5IJTTQFDJИDBUJPOEPFTOPUEFИOFXIFOBOJOUFSBDUJWFVTFSBHFOUIBTUPSFOEFSUIF %PDVNFOU Q TPUIBUJUJTBWBJMBCMF


    UPUIFVTFS PSXIFOJUIBTUPCFHJOBDDFQUJOHVTFSJOQVU

    "TFBDIUPLFOJTFNJUUFEGSPNUIFUPLFOJ[FS UIFVTFSBHFOUNVTUQSPDFTTUIFUPLFOBDDPSEJOHUPUIFSVMFTHJWFOJOUIF
    TFDUJPODPSSFTQPOEJOHUPUIFDVSSFOU JOTFSUJPONPEF Q 

    8IFOUIFTUFQTCFMPXSFRVJSFUIF6"UP CHM?LN;=B;L;=N?L JOUPBOPEF JGUIBUOPEFIBTBDIJMEJNNFEJBUFMZCFGPSF


    XIFSFUIFDIBSBDUFSJTUPCFJOTFSUFE BOEUIBUDIJMEJTB 5FYU Q OPEF BOEUIBU 5FYU Q OPEFXBTUIFMBTUOPEFUIBU
    UIFQBSTFSJOTFSUFEJOUPUIFEPDVNFOU UIFOUIFDIBSBDUFSNVTUCFBQQFOEFEUPUIBU 5FYU Q OPEFPUIFSXJTF BOFX
    5FYU Q OPEFXIPTFEBUBJTKVTUUIBUDIBSBDUFSNVTUCFJOTFSUFEJOUIFBQQSPQSJBUFQMBDF

    )FSFBSFTPNFTBNQMFJOQVUTUPUIFQBSTFSBOEUIFDPSSFTQPOEJOHOVNCFSPGUFYUOPEFTUIBUUIFZSFTVMUJO
    BTTVNJOHBVTFSBHFOUUIBUFYFDVUFTTDSJQUT

    
    %HJON *OG<?LI@N?RNHI>?M

    "TDSJQU 5XPBEKBDFOUUFYUOPEFTJOUIFEPDVNFOU
    WBS TDSJQU  EPDVNFOUHFU&MFNFOUT#Z5BH/BNF TDSJQU
    <> DPOUBJOJOH"BOE#
    EPDVNFOUCPEZSFNPWF$IJME TDSJQU
    
    TDSJQU#
    "TDSJQU 'PVSUFYUOPEFT"CFGPSFUIFTDSJQU UIFTDSJQUT
    WBS UFYU  EPDVNFOUDSFBUF5FYU/PEF #
     DPOUFOUT #BGUFSUIFTDSJQU BOEUIFO
    EPDVNFOUCPEZBQQFOE$IJME UFYU
     JNNFEJBUFMZBGUFSUIBU $
    TDSJQU$
    "TDSJQU 5XPBEKBDFOUUFYUOPEFTJOUIFEPDVNFOU
    WBS UFYU  EPDVNFOUHFU&MFNFOUT#Z5BH/BNF TDSJQU
    <>GJSTU$IJME DPOUBJOJOH"BOE##
    UFYUEBUB  #
    EPDVNFOUCPEZBQQFOE$IJME UFYU
    
    TDSJQU#
    "UBCMF#US$US$UBCMF 5ISFFBEKBDFOUUFYUOPEFTCFGPSFUIFUBCMF
    DPOUBJOJOH" # BOE$$SFTQFDUJWFMZ 5IJTJT
    DBVTFECZ GPTUFSQBSFOUJOH Q 

    "UBCMFUS #US #UBCMF 5XPBEKBDFOUUFYUOPEFTCFGPSFUIFUBCMF


    DPOUBJOJOH"BOE # # TQBDF#TQBDF#

    SFTQFDUJWFMZ 5IJTJTDBVTFECZ GPTUFS


    QBSFOUJOH Q 

    "UBCMFUS #US FN$UBCMF 5ISFFBEKBDFOUUFYUOPEFTCFGPSFUIFUBCMF


    DPOUBJOJOH"  # TQBDF#
    BOE$
    SFTQFDUJWFMZ BOEPOFUFYUOPEFJOTJEFUIFUBCMF BT
    BDIJMEPGB UCPEZ Q
    XJUIBTJOHMFTQBDF
    DIBSBDUFS 4QBDFDIBSBDUFSTTFQBSBUFEGSPNOPO
    TQBDFDIBSBDUFSTCZOPODIBSBDUFSUPLFOTBSFOPU
    BЗFDUFECZ GPTUFSQBSFOUJOH Q FWFOJGUIPTFPUIFS
    UPLFOTUIFOHFUJHOPSFE

    %0.NVUBUJPOFWFOUTNVTUOPUИSFGPSDIBOHFTDBVTFECZUIF6"QBSTJOHUIFEPDVNFOU $PODFQUVBMMZ UIFQBSTFSJT


    OPUNVUBUJOHUIF%0. JUJTDPOTUSVDUJOHJU
    5IJTJODMVEFTUIFQBSTJOHPGBOZDPOUFOUJOTFSUFEVTJOH
    EPDVNFOUXSJUF
    Q BOE EPDVNFOUXSJUFMO
    Q DBMMT <%0.&7&/54> Q

    *HM> *HM:EEH?MA>M:@G:F>LF>GMBHG>=;>EHP:K><HG?HKF:GMM:@G:F>LBGMABLLI><B[<:MBHG
    F:GR:K>BG<EN=>=MHA:G=E>E>@:<R<HGM>GM 0A>RLMBEE?HKFI:KMH?MA>:E@HKBMAFMA:M
    BFIE>F>GM:MBHGL:K>K>JNBK>=MHBFIE>F>GMMH<E:BF<HG?HKF:G<>

    *HM> 0A>:E@HKBMAF=>L<KB;>=;>EHPIE:<>LGHEBFBMHGMA>=>IMAH?MA> +)MK>>@>G>K:M>= HK


    HGMA>E>G@MAH?M:@G:F>L :MMKB;NM>G:F>L :MMKB;NM>O:EN>L M>QMGH=>L >M< 3ABE>
    BFIE>F>GMHKL:K>>G<HNK:@>=MH:OHB=:K;BMK:KREBFBML BMBLK><H@GBS>=MA:M IK:<MB<:E<HG<>KGL I
    PBEEEBD>ER?HK<>NL>K:@>GMLMHBFIHL>G>LMBG@=>IMA<HGLMK:BGML

        L?;NCHA;H>CHM?LNCHA?F?G?HNM

    8IFOUIFTUFQTCFMPXSFRVJSFUIF6"UP =L?;N?;H?F?G?HN@IL;NIE?H JOBQBSUJDVMBSOBNFTQBDF UIF6"NVTU


    DSFBUFBOPEFJNQMFNFOUJOHUIFJOUFSGBDFBQQSPQSJBUFGPSUIFFMFNFOUUZQFDPSSFTQPOEJOHUPUIFUBHOBNFPGUIFUPLFO
    JOUIFHJWFOOBNFTQBDF BTHJWFOJOUIFTQFDJИDBUJPOUIBUEFИOFTUIBUFMFNFOU FHGPSBO B Q FMFNFOUJOUIF )5.-
    OBNFTQBDF Q UIJTTQFDJИDBUJPOEFИOFTJUUPCFUIF )5.-"ODIPS&MFNFOU Q JOUFSGBDF
    XJUIUIFUBHOBNFCFJOHUIF
    OBNFPGUIBUFMFNFOU XJUIUIFOPEFCFJOHJOUIFHJWFOOBNFTQBDF BOEXJUIUIFBUUSJCVUFTPOUIFOPEFCFJOHUIPTF
    HJWFOJOUIFHJWFOUPLFO

    5IFJOUFSGBDFBQQSPQSJBUFGPSBOFMFNFOUJOUIF )5.-OBNFTQBDF Q UIBUJTOPUEFИOFEJOUIJTTQFDJИDBUJPO PS PUIFS


    BQQMJDBCMFTQFDJИDBUJPOT Q
    JT )5.-6OLOPXO&MFNFOU Q &MFNFOUJOPUIFSOBNFTQBDFTXIPTFJOUFSGBDFJTOPUEFИOFE
    CZUIBUOBNFTQBDFTTQFDJИDBUJPONVTUVTFUIFJOUFSGBDF &MFNFOU Q 

    8IFOB SFTFUUBCMFFMFNFOU Q JTDSFBUFEJOUIJTNBOOFS JUT SFTFUBMHPSJUIN Q NVTUCFJOWPLFEPODFUIFBUUSJCVUFT


    BSFTFU 5IJTJOJUJBMJ[FTUIFFMFNFOUT WBMVF Q BOE DIFDLFEOFTT Q CBTFEPOUIFFMFNFOUTBUUSJCVUFT

    8IFOUIFTUFQTCFMPXSFRVJSFUIF6"UP CHM?LN;H$0)(?F?G?HN GPSBUPLFO UIF6"NVTUИSTU DSFBUFBOFMFNFOUGPS


    UIFUPLFO Q JOUIF )5.-OBNFTQBDF Q BOEUIFOBQQFOEUIJTOPEFUPUIF DVSSFOUOPEF Q BOEQVTIJUPOUPUIF TUBDL
    PGPQFOFMFNFOUT Q TPUIBUJUJTUIFOFX DVSSFOUOPEF Q 

    5IFTUFQTCFMPXNBZBMTPSFRVJSFUIBUUIF6"JOTFSUBO)5.-FMFNFOUJOBQBSUJDVMBSQMBDF JOXIJDIDBTFUIF6"NVTU
    GPMMPXUIFTBNFTUFQTFYDFQUUIBUJUNVTUJOTFSUPSBQQFOEUIFOFXOPEFJOUIFMPDBUJPOTQFDJИFEJOTUFBEPGBQQFOEJOH
    JUUPUIF DVSSFOUOPEF Q  5IJTIBQQFOTJOQBSUJDVMBSEVSJOHUIFQBSTJOHPGUBCMFTXJUIJOWBMJEDPOUFOU

    
    *GBOFMFNFOUDSFBUFECZUIF JOTFSUBO)5.-FMFNFOU Q BMHPSJUINJTB GPSNBTTPDJBUFEFMFNFOU Q BOEUIF GPSN
    FMFNFOUQPJOUFS Q JTOPUOVMM BOEUIFOFXMZDSFBUFEFMFNFOUEPFTOUIBWFB GPSN Q BUUSJCVUF UIFVTFSBHFOUNVTU
    BTTPDJBUF Q UIFOFXMZDSFBUFEFMFNFOUXJUIUIF GPSN Q FMFNFOUQPJOUFEUPCZUIF GPSN FMFNFOUQPJOUFS Q CFGPSF
    JOTFSUJOHJUXIFSFWFSJUJTUPCFJOTFSUFE

    8IFOUIFTUFQTCFMPXSFRVJSFUIF6"UP CHM?LN;@IL?CAH?F?G?HN GPSBUPLFO UIF6"NVTUИSTU DSFBUFBOFMFNFOU


    GPSUIFUPLFO Q JOUIFHJWFOOBNFTQBDF BOEUIFOBQQFOEUIJTOPEFUPUIF DVSSFOUOPEF Q BOEQVTIJUPOUPUIF
    TUBDLPGPQFOFMFNFOUT Q TPUIBUJUJTUIFOFX DVSSFOUOPEF Q *GUIFOFXMZDSFBUFEFMFNFOUIBTBO YNMOT BUUSJCVUF
    JOUIF 9.-/4OBNFTQBDF Q XIPTFWBMVFJTOPUFYBDUMZUIFTBNFBTUIFFMFNFOUTOBNFTQBDF UIBUJTB QBSTF
    FSSPS Q 4JNJMBSMZ JGUIFOFXMZDSFBUFEFMFNFOUIBTBO YNMOTYMJOL BUUSJCVUFJOUIF 9.-/4OBNFTQBDF Q XIPTF
    WBMVFJTOPUUIF 9-JOL/BNFTQBDF Q UIBUJTB QBSTFFSSPS Q 

    8IFOUIFTUFQTCFMPXSFRVJSFUIFVTFSBHFOUUP ;>DOMN);NB)(;NNLC<ON?M GPSBUPLFO UIFO JGUIFUPLFOIBTBO


    BUUSJCVUFOBNFE EFGJOJUJPOVSM DIBOHFJUTOBNFUP EFGJOJUJPO63- OPUFUIFDBTFEJЗFSFODF
    

    8IFOUIFTUFQTCFMPXSFRVJSFUIFVTFSBHFOUUP ;>DOMN/2#;NNLC<ON?M GPSBUPLFO UIFO GPSFBDIBUUSJCVUFPOUIF


    UPLFOXIPTFBUUSJCVUFOBNFJTPOFPGUIFPOFTJOUIFИSTUDPMVNOPGUIFGPMMPXJOHUBCMF DIBOHFUIFBUUSJCVUFTOBNF
    UPUIFOBNFHJWFOJOUIFDPSSFTQPOEJOHDFMMJOUIFTFDPOEDPMVNO 5IJTИYFTUIFDBTFPG47(BUUSJCVUFTUIBUBSFOPUBMM
    MPXFSDBTF

    NNLC<ON?H;G?IHNIE?H NNLC<ON?H;G?IH?F?G?HN

    BUUSJCVUFOBNF BUUSJCVUF/BNF
    BUUSJCVUFUZQF BUUSJCVUF5ZQF
    CBTFGSFRVFODZ CBTF'SFRVFODZ
    CBTFQSPGJMF CBTF1SPGJMF
    DBMDNPEF DBMD.PEF
    DMJQQBUIVOJUT DMJQ1BUI6OJUT
    DPOUFOUTDSJQUUZQF DPOUFOU4DSJQU5ZQF
    DPOUFOUTUZMFUZQF DPOUFOU4UZMF5ZQF
    EJGGVTFDPOTUBOU EJGGVTF$POTUBOU
    FEHFNPEF FEHF.PEF
    FYUFSOBMSFTPVSDFTSFRVJSFE FYUFSOBM3FTPVSDFT3FRVJSFE
    GJMUFSSFT GJMUFS3FT
    GJMUFSVOJUT GJMUFS6OJUT
    HMZQISFG HMZQI3FG
    HSBEJFOUUSBOTGPSN HSBEJFOU5SBOTGPSN
    HSBEJFOUVOJUT HSBEJFOU6OJUT
    LFSOFMNBUSJY LFSOFM.BUSJY
    LFSOFMVOJUMFOHUI LFSOFM6OJU-FOHUI
    LFZQPJOUT LFZ1PJOUT
    LFZTQMJOFT LFZ4QMJOFT
    LFZUJNFT LFZ5JNFT
    MFOHUIBEKVTU MFOHUI"EKVTU
    MJNJUJOHDPOFBOHMF MJNJUJOH$POF"OHMF
    NBSLFSIFJHIU NBSLFS)FJHIU
    NBSLFSVOJUT NBSLFS6OJUT
    NBSLFSXJEUI NBSLFS8JEUI
    NBTLDPOUFOUVOJUT NBTL$POUFOU6OJUT
    NBTLVOJUT NBTL6OJUT
    OVNPDUBWFT OVN0DUBWFT
    QBUIMFOHUI QBUI-FOHUI
    QBUUFSODPOUFOUVOJUT QBUUFSO$POUFOU6OJUT
    QBUUFSOUSBOTGPSN QBUUFSO5SBOTGPSN
    QBUUFSOVOJUT QBUUFSO6OJUT
    QPJOUTBUY QPJOUT"U9
    QPJOUTBUZ QPJOUT"U:
    QPJOUTBU[ QPJOUT"U;
    QSFTFSWFBMQIB QSFTFSWF"MQIB
    QSFTFSWFBTQFDUSBUJP QSFTFSWF"TQFDU3BUJP
    QSJNJUJWFVOJUT QSJNJUJWF6OJUT
    SFGY SFG9

    
    NNLC<ON?H;G?IHNIE?H NNLC<ON?H;G?IH?F?G?HN
    SFGZ SFG:
    SFQFBUDPVOU SFQFBU$PVOU
    SFQFBUEVS SFQFBU%VS
    SFRVJSFEFYUFOTJPOT SFRVJSFE&YUFOTJPOT
    SFRVJSFEGFBUVSFT SFRVJSFE'FBUVSFT
    TQFDVMBSDPOTUBOU TQFDVMBS$POTUBOU
    TQFDVMBSFYQPOFOU TQFDVMBS&YQPOFOU
    TQSFBENFUIPE TQSFBE.FUIPE
    TUBSUPGGTFU TUBSU0GGTFU
    TUEEFWJBUJPO TUE%FWJBUJPO
    TUJUDIUJMFT TUJUDI5JMFT
    TVSGBDFTDBMF TVSGBDF4DBMF
    TZTUFNMBOHVBHF TZTUFN-BOHVBHF
    UBCMFWBMVFT UBCMF7BMVFT
    UBSHFUY UBSHFU9
    UBSHFUZ UBSHFU:
    UFYUMFOHUI UFYU-FOHUI
    WJFXCPY WJFX#PY
    WJFXUBSHFU WJFX5BSHFU
    YDIBOOFMTFMFDUPS Y$IBOOFM4FMFDUPS
    ZDIBOOFMTFMFDUPS Z$IBOOFM4FMFDUPS
    [PPNBOEQBO [PPN"OE1BO

    8IFOUIFTUFQTCFMPXSFRVJSFUIFVTFSBHFOUUP ;>DOMN@IL?CAH;NNLC<ON?M GPSBUPLFO UIFO JGBOZPGUIFBUUSJCVUFT


    POUIFUPLFONBUDIUIFTUSJOHTHJWFOJOUIFИSTUDPMVNOPGUIFGPMMPXJOHUBCMF MFUUIFBUUSJCVUFCFBOBNFTQBDFE
    BUUSJCVUF XJUIUIFQSFИYCFJOHUIFTUSJOHHJWFOJOUIFDPSSFTQPOEJOHDFMMJOUIFTFDPOEDPMVNO UIFMPDBMOBNFCFJOH
    UIFTUSJOHHJWFOJOUIFDPSSFTQPOEJOHDFMMJOUIFUIJSEDPMVNO BOEUIFOBNFTQBDFCFJOHUIFOBNFTQBDFHJWFOJOUIF
    DPSSFTQPOEJOHDFMMJOUIFGPVSUIDPMVNO 5IJTИYFTUIFVTFPGOBNFTQBDFEBUUSJCVUFT JOQBSUJDVMBS MBOH BUUSJCVUFTJO
    UIF 9.-OBNFTQBDF Q 

    NNLC<ON?H;G? ,L?]R (I=;FH;G? *;G?MJ;=?

    YMJOLBDUVBUF YMJOL BDUVBUF 9-JOLOBNFTQBDF Q


    YMJOLBSDSPMF YMJOL BSDSPMF 9-JOLOBNFTQBDF Q
    YMJOLISFG YMJOL ISFG 9-JOLOBNFTQBDF Q
    YMJOLSPMF YMJOL SPMF 9-JOLOBNFTQBDF Q
    YMJOLTIPX YMJOL TIPX 9-JOLOBNFTQBDF Q
    YMJOLUJUMF YMJOL UJUMF 9-JOLOBNFTQBDF Q
    YMJOLUZQF YMJOL UZQF 9-JOLOBNFTQBDF Q
    YNMCBTF YNM CBTF 9.-OBNFTQBDF Q
    YNMMBOH YNM MBOH 9.-OBNFTQBDF Q
    YNMTQBDF YNM TQBDF 9.-OBNFTQBDF Q
    YNMOT OPOF
    YNMOT 9.-/4OBNFTQBDF Q
    YNMOTYMJOL YNMOT YMJOL 9.-/4OBNFTQBDF Q

    5IF A?H?LC=L;QN?RN?F?G?HNJ;LMCHA;FAILCNBG BOEUIF A?H?LC=. 0?F?G?HNJ;LMCHA;FAILCNBG DPOTJTU


    PGUIFGPMMPXJOHTUFQT5IFTFBMHPSJUINTBSFBMXBZTJOWPLFEJOSFTQPOTFUPBTUBSUUBHUPLFO

     *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

     *GUIFBMHPSJUINUIBUXBTJOWPLFEJTUIF HFOFSJDSBXUFYUFMFNFOUQBSTJOHBMHPSJUIN Q TXJUDIUIFUPLFOJ[FS


    UPUIF 3"85&95TUBUF Q PUIFSXJTFUIFBMHPSJUINJOWPLFEXBTUIF HFOFSJD3$%"5"FMFNFOUQBSTJOH
    BMHPSJUIN Q TXJUDIUIFUPLFOJ[FSUPUIF 3$%"5"TUBUF Q 

     -FUUIF PSJHJOBMJOTFSUJPONPEF Q CFUIFDVSSFOU JOTFSUJPONPEF Q 

     5IFO TXJUDIUIF JOTFSUJPONPEF Q UPUFYU Q 

    
        FIMCHA?F?G?HNMNB;NB;P?CGJFC?>?H>N;AM

    8IFOUIFTUFQTCFMPXSFRVJSFUIF6"UP A?H?L;N?CGJFC?>?H>N;AM UIFO XIJMFUIF DVSSFOUOPEF Q JTB EE Q


    FMFNFOU B EU Q FMFNFOU BO MJ Q FMFNFOU BO PQUJPO Q FMFNFOU BO PQUHSPVQ Q FMFNFOU B Q Q FMFNFOU BO
    SQ Q FMFNFOU PSBO SU Q FMFNFOU UIF6"NVTUQPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFOFMFNFOUT Q 

    *GBTUFQSFRVJSFTUIF6"UPHFOFSBUFJNQMJFEFOEUBHTCVUMJTUTBOFMFNFOUUPFYDMVEFGSPNUIFQSPDFTT UIFOUIF6"
    NVTUQFSGPSNUIFBCPWFTUFQTBTJGUIBUFMFNFOUXBTOPUJOUIFBCPWFMJTU

        "IMN?LJ;L?HNCHA

    'PTUFSQBSFOUJOHIBQQFOTXIFODPOUFOUJTNJTOFTUFEJOUBCMFT

    8IFOBOPEF =>34 JTUPCF @IMN?LJ;L?HN?> UIFOPEF =>34 NVTUCFJOTFSUFEJOUPUIF 5>BC4A?0A4=C4;4<4=C ?  

    5IF @IMN?LJ;L?HN?F?G?HN JTUIFQBSFOUFMFNFOUPGUIFMBTU UBCMF Q FMFNFOUJOUIF TUBDLPGPQFOFMFNFOUT Q JG


    UIFSFJTB UBCMF Q FMFNFOUBOEJUIBTTVDIBQBSFOUFMFNFOU*GUIFSFJTOP UBCMF Q FMFNFOUJOUIF TUBDLPGPQFO
    FMFNFOUT Q GSBHNFOUDBTF Q
    UIFOUIF 5>BC4A?0A4=C4;4<4=C ?  JTUIFИSTUFMFNFOUJOUIF TUBDLPGPQFO
    FMFNFOUT Q UIF IUNM Q FMFNFOU
    0UIFSXJTF JGUIFSFJTB UBCMF Q FMFNFOUJOUIF TUBDLPGPQFOFMFNFOUT Q CVU
    UIFMBTU UBCMF Q FMFNFOUJOUIF TUBDLPGPQFOFMFNFOUT Q IBTOPQBSFOU PSJUTQBSFOUOPEFJTOPUBOFMFNFOU UIFO
    UIF 5>BC4A?0A4=C4;4<4=C ?  JTUIFFMFNFOUCFGPSFUIFMBTU UBCMF Q FMFNFOUJOUIF TUBDLPGPQFOFMFNFOUT Q 

    *GUIF 5>BC4A?0A4=C4;4<4=C ?  JTUIFQBSFOUFMFNFOUPGUIFMBTU UBCMF Q FMFNFOUJOUIF TUBDLPGPQFOFMFNFOUT Q


    UIFO =>34 NVTUCFJOTFSUFEJNNFEJBUFMZ 145>A4 UIFMBTU UBCMF Q FMFNFOUJOUIF TUBDLPGPQFOFMFNFOUT Q JOUIF
    5>BC4A?0A4=C4;4<4=C ?  PUIFSXJTF =>34 NVTUCF 0??4=343 UPUIF 5>BC4A?0A4=C4;4<4=C ?  

        0B?CHCNC;FCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOJUJBM Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    *HOPSFUIFUPLFO

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF %PDVNFOU Q PCKFDUXJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    *GUIF%0$5:1&UPLFOTOBNFJTOPUB DBTFTFOTJUJWF Q NBUDIGPSUIFTUSJOHIUNM PSUIFUPLFOTQVCMJD
    JEFOUJИFSJTOPUNJTTJOH PSUIFUPLFOTTZTUFNJEFOUJИFSJTOFJUIFSNJTTJOHOPSB DBTFTFOTJUJWF Q NBUDIGPS
    UIFTUSJOHBCPVUMFHBDZDPNQBU Q  BOEOPOFPGUIFTFUTPGDPOEJUJPOTJOUIFGPMMPXJOHMJTUBSFNBUDIFE
    UIFOUIFSFJTB QBSTFFSSPS Q 

    Ǭ 5IF%0$5:1&UPLFOTOBNFJTB DBTFTFOTJUJWF Q NBUDIGPSUIFTUSJOHIUNM UIFUPLFOTQVCMJD


    JEFOUJИFSJTUIF DBTFTFOTJUJWF Q TUSJOH8$%5% )5.- &/ BOEUIFUPLFOTTZTUFN
    JEFOUJИFSJTFJUIFSNJTTJOHPSUIF DBTFTFOTJUJWF Q TUSJOHIUUQXXXXPSH533&$IUNM
    TUSJDUEUE

    Ǭ 5IF%0$5:1&UPLFOTOBNFJTB DBTFTFOTJUJWF Q NBUDIGPSUIFTUSJOHIUNM UIFUPLFOTQVCMJD


    JEFOUJИFSJTUIF DBTFTFOTJUJWF Q TUSJOH8$%5% )5.- &/ BOEUIFUPLFOTTZTUFN
    JEFOUJИFSJTFJUIFSNJTTJOHPSUIF DBTFTFOTJUJWF Q TUSJOHIUUQXXXXPSH53IUNM
    TUSJDUEUE

    Ǭ 5IF%0$5:1&UPLFOTOBNFJTB DBTFTFOTJUJWF Q NBUDIGPSUIFTUSJOHIUNM UIFUPLFOTQVCMJD


    JEFOUJИFSJTUIF DBTFTFOTJUJWF Q TUSJOH8$%5% 9)5.-  4USJDU&/ BOEUIFUPLFOT
    TZTUFNJEFOUJИFSJTUIF DBTFTFOTJUJWF Q TUSJOHIUUQXXXXPSH53YIUNM%5%
    YIUNMTUSJDUEUE

    Ǭ 5IF%0$5:1&UPLFOTOBNFJTB DBTFTFOTJUJWF Q NBUDIGPSUIFTUSJOHIUNM UIFUPLFOTQVCMJD


    JEFOUJИFSJTUIF DBTFTFOTJUJWF Q TUSJOH8$%5% 9)5.- &/ BOEUIFUPLFOTTZTUFN
    JEFOUJИFSJTUIF DBTFTFOTJUJWF Q TUSJOHIUUQXXXXPSH53YIUNM%5%YIUNMEUE

    $POGPSNBODFDIFDLFSTNBZ CBTFEPOUIFWBMVFT JODMVEJOHQSFTFODFPSMBDLUIFSFPG


    PGUIF%0$5:1&UPLFOT
    OBNF QVCMJDJEFOUJИFS PSTZTUFNJEFOUJИFS TXJUDIUPBDPOGPSNBODFDIFDLJOHNPEFGPSBOPUIFSMBOHVBHF

    
    FHCBTFEPOUIF%0$5:1&UPLFOBDPOGPSNBODFDIFDLFSDPVMESFDPHOJ[FUIBUUIFEPDVNFOUJTBO
    )5.-FSBEPDVNFOU BOEEFGFSUPBO)5.-DPOGPSNBODFDIFDLFS

    "QQFOEB %PDVNFOU5ZQF Q OPEFUPUIF %PDVNFOU Q OPEF XJUIUIF OBNF BUUSJCVUFTFUUPUIFOBNFHJWFOJO
    UIF%0$5:1&UPLFO PSUIFFNQUZTUSJOHJGUIFOBNFXBTNJTTJOHUIF QVCMJD*E BUUSJCVUFTFUUPUIFQVCMJD
    JEFOUJИFSHJWFOJOUIF%0$5:1&UPLFO PSUIFFNQUZTUSJOHJGUIFQVCMJDJEFOUJИFSXBTNJTTJOHUIF TZTUFN*E
    BUUSJCVUFTFUUPUIFTZTUFNJEFOUJИFSHJWFOJOUIF%0$5:1&UPLFO PSUIFFNQUZTUSJOHJGUIFTZTUFNJEFOUJИFS
    XBTNJTTJOHBOEUIFPUIFSBUUSJCVUFTTQFDJИDUP %PDVNFOU5ZQF Q PCKFDUTTFUUPOVMMBOEFNQUZMJTUTBT
    BQQSPQSJBUF"TTPDJBUFUIF %PDVNFOU5ZQF Q OPEFXJUIUIF %PDVNFOU Q PCKFDUTPUIBUJUJTSFUVSOFEBTUIF
    WBMVFPGUIF EPDUZQF BUUSJCVUFPGUIF %PDVNFOU Q PCKFDU

    5IFO JGUIF%0$5:1&UPLFONBUDIFTPOFPGUIFDPOEJUJPOTJOUIFGPMMPXJOHMJTU UIFOTFUUIF %PDVNFOU Q UP


    RVJSLTNPEF Q 

    Ǭ 5IF 5>A24@D8A:BQ06 JTTFUUP >=


    Ǭ 5IFOBNFJTTFUUPBOZUIJOHPUIFSUIBOIUNM DPNQBSFE DBTFTFOTJUJWFMZ Q
    
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI 4JMNBSJMEUEIUNM1SPWS
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI"EWB4PGU-UE%5%)5.-BT8FEJU FYUFOTJPOT
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI"4%5%)5.-BT8FEJU FYUFOTJPOT
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.--FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.--FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-4USJDU-FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-4USJDU-FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-4USJDU
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-&
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-'JOBM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.--FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.--FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.--FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.--FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-4USJDU-FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-4USJDU-FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-4USJDU-FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-4USJDU-FWFM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-4USJDU
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI*&5'%5%)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI.FUSJVT%5%.FUSJVT1SFTFOUBUJPOBM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI.JDSPTPGU%5%*OUFSOFU&YQMPSFS)5.-4USJDU
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI.JDSPTPGU%5%*OUFSOFU&YQMPSFS)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI.JDSPTPGU%5%*OUFSOFU&YQMPSFS5BCMFT
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI.JDSPTPGU%5%*OUFSOFU&YQMPSFS)5.-4USJDU
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI.JDSPTPGU%5%*OUFSOFU&YQMPSFS)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI.JDSPTPGU%5%*OUFSOFU&YQMPSFS5BCMFT
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI/FUTDBQF$PNN$PSQ%5%)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI/FUTDBQF$PNN$PSQ%5%4USJDU)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI03FJMMZBOE"TTPDJBUFT%5%)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI03FJMMZBOE"TTPDJBUFT%5%)5.-&YUFOEFE
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI03FJMMZBOE"TTPDJBUFT%5%)5.-&YUFOEFE3FMBYFE
    
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI4PGU2VBE4PGUXBSF%5%)P5.FUB-130
    FYUFOTJPOTUP)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI4PGU2VBE%5%)P5.FUB-130FYUFOTJPOT
    UP)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI4QZHMBTT%5%)5.-&YUFOEFE
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI42%5%)5.-)P5.FUB- FYUFOTJPOT
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI4VO.JDSPTZTUFNT$PSQ%5%)PU+BWB)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI4VO.JDSPTZTUFNT$PSQ%5%)PU+BWB4USJDU)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-%SBGU
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-'JOBM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-4%SBGU
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-'SBNFTFU
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-5SBOTJUJPOBM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-&YQFSJNFOUBM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-&YQFSJNFOUBM
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%8)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI80%5%8)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSJTTFUUP80%5%8)5.-4USJDU&/
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8FC5FDIT%5%.P[JMMB)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8FC5FDIT%5%.P[JMMB)5.-
    Ǭ 5IFQVCMJDJEFOUJИFSJTTFUUP8$%5%)5.-5SBOTJUJPOBM&/
    Ǭ 5IFQVCMJDJEFOUJИFSJTTFUUP)5.-

    
    Ǭ 5IFTZTUFNJEFOUJИFSJTTFUUPIUUQXXXJCNDPNEBUBEUEW
    JCNYIUNMUSBOTJUJPOBMEUE
    Ǭ 5IFTZTUFNJEFOUJИFSJTNJTTJOHBOEUIFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-
    'SBNFTFU
    Ǭ 5IFTZTUFNJEFOUJИFSJTNJTTJOHBOEUIFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-
    5SBOTJUJPOBM

    0UIFSXJTF JGUIF%0$5:1&UPLFONBUDIFTPOFPGUIFDPOEJUJPOTJOUIFGPMMPXJOHMJTU UIFOTFUUIF %PDVNFOU Q


    UP MJNJUFERVJSLTNPEF Q 

    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%9)5.-'SBNFTFU
    Ǭ 5IFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%9)5.-5SBOTJUJPOBM
    Ǭ 5IFTZTUFNJEFOUJИFSJTOPUNJTTJOHBOEUIFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-
    'SBNFTFU
    Ǭ 5IFTZTUFNJEFOUJИFSJTOPUNJTTJOHBOEUIFQVCMJDJEFOUJИFSTUBSUTXJUI8$%5%)5.-
    5SBOTJUJPOBM

    5IFTZTUFNJEFOUJИFSBOEQVCMJDJEFOUJИFSTUSJOHTNVTUCFDPNQBSFEUPUIFWBMVFTHJWFOJOUIFMJTUTBCPWFJO
    BO "4$**DBTFJOTFOTJUJWF Q NBOOFS"TZTUFNJEFOUJИFSXIPTFWBMVFJTUIFFNQUZTUSJOHJTOPUDPOTJEFSFE
    NJTTJOHGPSUIFQVSQPTFTPGUIFDPOEJUJPOTBCPWF

    5IFO TXJUDIUIF JOTFSUJPONPEF Q UPCFGPSFIUNM Q 

    X HSNBCHA?FM?
    *GUIFEPDVNFOUJT =>C BO JGSBNF TSDEPD EPDVNFOU Q UIFOUIJTJTB QBSTFFSSPS Q TFUUIF %PDVNFOU Q UP
    RVJSLTNPEF Q 

    *OBOZDBTF TXJUDIUIF JOTFSUJPONPEF Q UPCFGPSFIUNM Q  UIFOSFQSPDFTTUIFDVSSFOUUPLFO

        0B?<?@IL?BNGFCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTCFGPSFIUNM Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF %PDVNFOU Q PCKFDUXJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    $SFBUFBOFMFNFOUGPSUIFUPLFO Q JOUIF )5.-OBNFTQBDF Q "QQFOEJUUPUIF %PDVNFOU Q PCKFDU1VUUIJT
    FMFNFOUJOUIF TUBDLPGPQFOFMFNFOUT Q 

    *GUIF %PDVNFOU Q JTCFJOHMPBEFEBTQBSUPG OBWJHBUJPO Q PGB CSPXTJOHDPOUFYU Q UIFOJGUIFOFXMZ
    DSFBUFEFMFNFOUIBTB NBOJGFTU Q BUUSJCVUFXIPTFWBMVFJTOPUUIFFNQUZTUSJOH UIFO SFTPMWF Q UIFWBMVF
    PGUIBUBUUSJCVUFUPBO BCTPMVUF63- Q SFMBUJWFUPUIFOFXMZDSFBUFEFMFNFOU BOEJGUIBUJTTVDDFTTGVM SVO
    UIF BQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN Q XJUIUIFSFTVMUJOH BCTPMVUF63- Q XJUIBOZ GSBHNFOU Q
    DPNQPOFOUSFNPWFEPUIFSXJTF JGUIFSFJTOPTVDIBUUSJCVUF PSJUTWBMVFJTUIFFNQUZTUSJOH PSSFTPMWJOHJUT
    WBMVFGBJMT SVOUIF BQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN Q XJUIOPNBOJGFTU5IFBMHPSJUINNVTUCFQBTTFE
    UIF %PDVNFOU Q PCKFDU

    4XJUDIUIF JOTFSUJPONPEF Q UPCFGPSFIFBE Q 

    X H?H>N;AQBIM?N;AH;G?CMIH?I@B?;>
    <I>S
    BNGF
    <L
    "DUBTEFTDSJCFEJOUIFBOZUIJOHFMTFFOUSZCFMPX

    X HSINB?L?H>N;A
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X HSNBCHA?FM?
    $SFBUFBO IUNM Q FMFNFOU"QQFOEJUUPUIF %PDVNFOU Q PCKFDU1VUUIJTFMFNFOUJOUIF TUBDLPGPQFO
    FMFNFOUT Q 

    
    *GUIF %PDVNFOU Q JTCFJOHMPBEFEBTQBSUPG OBWJHBUJPO Q PGB CSPXTJOHDPOUFYU Q UIFOSVOUIF
    BQQMJDBUJPODBDIFTFMFDUJPOBMHPSJUIN Q XJUIOPNBOJGFTU QBTTJOHJUUIF %PDVNFOU Q PCKFDU

    4XJUDIUIF JOTFSUJPONPEF Q UPCFGPSFIFBE Q  UIFOSFQSPDFTTUIFDVSSFOUUPLFO

    5IFSPPUFMFNFOUDBOFOEVQCFJOHSFNPWFEGSPNUIF %PDVNFOU Q PCKFDU FHCZTDSJQUTOPUIJOHJOQBSUJDVMBS


    IBQQFOTJOTVDIDBTFT DPOUFOUDPOUJOVFTCFJOHBQQFOEFEUPUIFOPEFTBTEFTDSJCFEJOUIFOFYUTFDUJPO

        0B?<?@IL?B?;>CHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTCFGPSFIFBE Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    *HOPSFUIFUPLFO

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF DVSSFOUOPEF Q XJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X MN;LNN;AQBIM?N;AH;G?CMB?;>
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    4FUUIF IFBE FMFNFOUQPJOUFS Q UPUIFOFXMZDSFBUFE IFBE Q FMFNFOU

    4XJUDIUIF JOTFSUJPONPEF Q UPJOIFBE Q 

    X H?H>N;AQBIM?N;AH;G?CMIH?I@B?;>
    <I>S
    BNGF
    <L
    "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFIFBEBOEOPBUUSJCVUFTIBECFFOTFFO UIFOSFQSPDFTTUIF
    DVSSFOUUPLFO

    X HSINB?L?H>N;A
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X HSNBCHA?FM?
    "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFIFBEBOEOPBUUSJCVUFTIBECFFOTFFO UIFOSFQSPDFTTUIF
    DVSSFOUUPLFO

        0B?CHB?;>CHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOIFBE Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    *OTFSUUIFDIBSBDUFS Q JOUPUIF DVSSFOUOPEF Q 

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF DVSSFOUOPEF Q XJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@<;M?
    =IGG;H>
    FCHE
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO*NNFEJBUFMZQPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFO
    FMFNFOUT Q 

    
    "DLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q JGJUJTTFU

    X MN;LNN;AQBIM?N;AH;G?CMG?N;
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO*NNFEJBUFMZQPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFO
    FMFNFOUT Q 

    "DLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q JGJUJTTFU

    *GUIFFMFNFOUIBTB DIBSTFU Q BUUSJCVUF BOEJUTWBMVFJTBTVQQPSUFEFODPEJOH BOEUIF DPOИEFODF Q JT


    DVSSFOUMZ C4=C0C8E4 UIFO DIBOHFUIFFODPEJOH Q UPUIFFODPEJOHHJWFOCZUIFWBMVFPGUIF DIBSTFU Q
    BUUSJCVUF

    0UIFSXJTF JGUIFFMFNFOUIBTB DPOUFOU Q BUUSJCVUF BOEBQQMZJOHUIF BMHPSJUINGPSFYUSBDUJOHBOFODPEJOH


    GSPNB$POUFOU5ZQF Q UPJUTWBMVFSFUVSOTBTVQQPSUFEFODPEJOH 4=2>38=6 BOEUIF DPOИEFODF Q JT
    DVSSFOUMZ C4=C0C8E4 UIFO DIBOHFUIFFODPEJOH Q UPUIFFODPEJOH 4=2>38=6

    X MN;LNN;AQBIM?N;AH;G?CMNCNF?
    'PMMPXUIF HFOFSJD3$%"5"FMFNFOUQBSTJOHBMHPSJUIN Q 
    J
    X MN;LNN;AQBIM?N;AH;G?CMHIM=LCJN
    C@NB? M=LCJNCHA^;A CM?H;<F?>
    X MN;LNN;AQBIM?N;AH;G?CMIH?I@HI@L;G?M
    MNSF?
    'PMMPXUIF HFOFSJDSBXUFYUFMFNFOUQBSTJOHBMHPSJUIN Q 
    J
    X MN;LNN;AQBIM?N;AH;G?CMHIM=LCJN
    C@NB? M=LCJNCHA^;A CM>CM;<F?>
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    4XJUDIUIF JOTFSUJPONPEF Q UPJOIFBEOPTDSJQU Q 

    X MN;LNN;AQBIM?N;AH;G?CMM=LCJN
    3VOUIFTFTUFQT

     $SFBUFBOFMFNFOUGPSUIFUPLFO Q JOUIF )5.-OBNFTQBDF Q 

     .BSLUIFFMFNFOUBTCFJOH QBSTFSJOTFSUFE Q 

    *HM> 0ABL>GLNK>LMA:M B?MA>L<KBIMBL>QM>KG:E :GR =H<NF>GM PKBM> I <:EELBG


    MA>L<KBIMPBEE>Q><NM>BG
    EBG> BGLM>:=H?;EHPBG@MA>=H<NF>GM:P:R :LPHNE=
    A:II>GBGFHLMHMA>K<:L>L %M:ELHIK>O>GMLMA>L<KBIM?KHF>Q><NMBG@NGMBEMA>
    >G=M:@BLL>>G

     *GUIFQBSTFSXBTPSJHJOBMMZDSFBUFEGPSUIF )5.-GSBHNFOUQBSTJOHBMHPSJUIN Q UIFONBSLUIF


    TDSJQU Q FMFNFOUBT BMSFBEZTUBSUFE Q  GSBHNFOUDBTF Q

     "QQFOEUIFOFXFMFNFOUUPUIF DVSSFOUOPEF Q BOEQVTIJUPOUPUIF TUBDLPGPQFOFMFNFOUT Q 

     4XJUDIUIFUPLFOJ[FSUPUIF TDSJQUEBUBTUBUF Q 

     -FUUIF PSJHJOBMJOTFSUJPONPEF Q CFUIFDVSSFOU JOTFSUJPONPEF Q 

     4XJUDIUIF JOTFSUJPONPEF Q UPUFYU Q 

    X H?H>N;AQBIM?N;AH;G?CMB?;>
    1PQUIF DVSSFOUOPEF Q XIJDIXJMMCFUIF IFBE Q FMFNFOU
    PЗUIF TUBDLPGPQFOFMFNFOUT Q 

    4XJUDIUIF JOTFSUJPONPEF Q UPBGUFSIFBE Q 

    X H?H>N;AQBIM?N;AH;G?CMIH?I@<I>S
    BNGF
    <L
    "DUBTEFTDSJCFEJOUIFBOZUIJOHFMTFFOUSZCFMPX

    X MN;LNN;AQBIM?N;AH;G?CMB?;>
    X HSINB?L?H>N;A
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X HSNBCHA?FM?
    "DUBTJGBOFOEUBHUPLFOXJUIUIFUBHOBNFIFBEIBECFFOTFFO BOESFQSPDFTTUIFDVSSFOUUPLFO

    
        0B?CHB?;>HIM=LCJNCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOIFBEOPTDSJQU Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X H?H>N;AQBIM?N;AH;G?CMHIM=LCJN
    1PQUIF DVSSFOUOPEF Q XIJDIXJMMCFB OPTDSJQU Q FMFNFOU
    GSPNUIF TUBDLPGPQFOFMFNFOUT Q UIFOFX
    DVSSFOUOPEF Q XJMMCFB IFBE Q FMFNFOU

    4XJUDIUIF JOTFSUJPONPEF Q UPJOIFBE Q 

    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    X =IGG?HNNIE?H
    X MN;LNN;AQBIM?N;AH;G?CMIH?I@FCHE
    G?N;
    HI@L;G?M
    MNSF?
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOIFBE Q  JOTFSUJPONPEF Q 

    X H?H>N;AQBIM?N;AH;G?CM<L
    "DUBTEFTDSJCFEJOUIFBOZUIJOHFMTFFOUSZCFMPX

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@B?;>
    HIM=LCJN
    X HSINB?L?H>N;A
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X HSNBCHA?FM?
    1BSTFFSSPS Q "DUBTJGBOFOEUBHXJUIUIFUBHOBNFOPTDSJQUIBECFFOTFFOBOESFQSPDFTTUIFDVSSFOU
    UPLFO

        0B?;@N?LB?;>CHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTBGUFSIFBE Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    *OTFSUUIFDIBSBDUFS Q JOUPUIF DVSSFOUOPEF Q 

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF DVSSFOUOPEF Q XJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X MN;LNN;AQBIM?N;AH;G?CM<I>S
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

    4XJUDIUIF JOTFSUJPONPEF Q UPJOCPEZ Q 

    X MN;LNN;AQBIM?N;AH;G?CM@L;G?M?N
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    4XJUDIUIF JOTFSUJPONPEF Q UPJOGSBNFTFU Q 

    X MN;LNN;ANIE?HQBIM?N;AH;G?CMIH?I@<;M?
    FCHE
    G?N;
    HI@L;G?M
    M=LCJN
    MNSF?

    NCNF?
    1BSTFFSSPS Q 

    
    1VTIUIFOPEFQPJOUFEUPCZUIF IFBE FMFNFOUQPJOUFS Q POUPUIF TUBDLPGPQFOFMFNFOUT Q 

    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOIFBE Q  JOTFSUJPONPEF Q 

    3FNPWFUIFOPEFQPJOUFEUPCZUIF IFBE FMFNFOUQPJOUFS Q GSPNUIF TUBDLPGPQFOFMFNFOUT Q 

    *HM> 0A> A>:= >E>F>GMIHBGM>K I <:GGHM;>GNEE:MMABLIHBGM

    X H?H>N;AQBIM?N;AH;G?CMIH?I@<I>S
    BNGF
    <L
    "DUBTEFTDSJCFEJOUIFBOZUIJOHFMTFFOUSZCFMPX

    X MN;LNN;AQBIM?N;AH;G?CMB?;>
    X HSINB?L?H>N;A
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X HSNBCHA?FM?
    "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFCPEZBOEOPBUUSJCVUFTIBECFFOTFFO UIFOTFUUIF GSBNFTFU
    PLЙBH Q CBDLUPPL BOEUIFOSFQSPDFTTUIFDVSSFOUUPLFO

        0B?CH<I>SCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOCPEZ Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?H
    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    *OTFSUUIFUPLFOTDIBSBDUFS Q JOUPUIF DVSSFOUOPEF Q 

    *GUIFUPLFOJTOPUPOFPG6 $)"3"$5&35"#6-"5*0/ 6 "-*/&'&&% -'


    6 $'03.'&&%
    ''
    6 %$"33*"(&3&563/ $3
    PS6 41"$& UIFOTFUUIF GSBNFTFUPLЙBH Q UPOPUPL

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF DVSSFOUOPEF Q XJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1BSTFFSSPS Q 'PSFBDIBUUSJCVUFPOUIFUPLFO DIFDLUPTFFJGUIFBUUSJCVUFJTBMSFBEZQSFTFOUPOUIFUPQ
    FMFNFOUPGUIF TUBDLPGPQFOFMFNFOUT Q *GJUJTOPU BEEUIFBUUSJCVUFBOEJUTDPSSFTQPOEJOHWBMVFUPUIBU
    FMFNFOU

    X MN;LNN;ANIE?HQBIM?N;AH;G?CMIH?I@<;M?
    =IGG;H>
    FCHE
    G?N;
    HI@L;G?M
    M=LCJN

    MNSF?
    NCNF?
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOIFBE Q  JOTFSUJPONPEF Q 

    X MN;LNN;AQBIM?N;AH;G?CM<I>S
    1BSTFFSSPS Q 

    *GUIFTFDPOEFMFNFOUPOUIF TUBDLPGPQFOFMFNFOUT Q JTOPUB CPEZ Q FMFNFOU PS JGUIF TUBDLPGPQFO
    FMFNFOUT Q IBTPOMZPOFOPEFPOJU UIFOJHOPSFUIFUPLFO GSBHNFOUDBTF Q

    0UIFSXJTF GPSFBDIBUUSJCVUFPOUIFUPLFO DIFDLUPTFFJGUIFBUUSJCVUFJTBMSFBEZQSFTFOUPOUIF CPEZ Q


    FMFNFOU UIFTFDPOEFMFNFOU
    POUIF TUBDLPGPQFOFMFNFOUT Q *GJUJTOPU BEEUIFBUUSJCVUFBOEJUT
    DPSSFTQPOEJOHWBMVFUPUIBUFMFNFOU

    X MN;LNN;AQBIM?N;AH;G?CM@L;G?M?N
    1BSTFFSSPS Q 

    *GUIFTFDPOEFMFNFOUPOUIF TUBDLPGPQFOFMFNFOUT Q JTOPUB CPEZ Q FMFNFOU PS JGUIF TUBDLPGPQFO
    FMFNFOUT Q IBTPOMZPOFOPEFPOJU UIFOJHOPSFUIFUPLFO GSBHNFOUDBTF Q

    *GUIF GSBNFTFUPLЙBH Q JTTFUUPOPUPL JHOPSFUIFUPLFO

    0UIFSXJTF SVOUIFGPMMPXJOHTUFQT

    
     3FNPWFUIFTFDPOEFMFNFOUPOUIF TUBDLPGPQFOFMFNFOUT Q GSPNJUTQBSFOUOPEF JGJUIBTPOF

     1PQBMMUIFOPEFTGSPNUIFCPUUPNPGUIF TUBDLPGPQFOFMFNFOUT Q GSPNUIF DVSSFOUOPEF Q VQ


    UP CVUOPUJODMVEJOH UIFSPPU IUNM Q FMFNFOU

     *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

     4XJUDIUIF JOTFSUJPONPEF Q UPJOGSBNFTFU Q 

    X H?H> I@ ]F?NIE?H
    *GUIFSFJTBOPEFJOUIF TUBDLPGPQFOFMFNFOUT Q UIBUJTOPUFJUIFSB EE Q FMFNFOU B EU Q FMFNFOU BO
    MJ Q FMFNFOU B Q Q FMFNFOU B UCPEZ Q FMFNFOU B UE Q FMFNFOU B UGPPU Q FMFNFOU B UI Q FMFNFOU
    B UIFBE Q FMFNFOU B US Q FMFNFOU UIF CPEZ Q FMFNFOU PSUIF IUNM Q FMFNFOU UIFOUIJTJTB QBSTF
    FSSPS Q 

    4UPQQBSTJOH Q 

    X H?H>N;AQBIM?N;AH;G?CM<I>S
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFB CPEZ FMFNFOUJOTDPQF Q UIJTJTB QBSTFFSSPS Q JHOPSF
    UIFUPLFO

    0UIFSXJTF JGUIFSFJTBOPEFJOUIF TUBDLPGPQFOFMFNFOUT Q UIBUJTOPUFJUIFSB EE Q FMFNFOU B EU Q


    FMFNFOU BO MJ Q FMFNFOU BO PQUHSPVQ Q FMFNFOU BO PQUJPO Q FMFNFOU B Q Q FMFNFOU BO SQ Q
    FMFNFOU BO SU Q FMFNFOU B UCPEZ Q FMFNFOU B UE Q FMFNFOU B UGPPU Q FMFNFOU B UI Q FMFNFOU B
    UIFBE Q FMFNFOU B US Q FMFNFOU UIF CPEZ Q FMFNFOU PSUIF IUNM Q FMFNFOU UIFOUIJTJTB QBSTF
    FSSPS Q 

    4XJUDIUIF JOTFSUJPONPEF Q UPBGUFSCPEZ Q 

    X H?H>N;AQBIM?N;AH;G?CMBNGF
    "DUBTJGBOFOEUBHXJUIUBHOBNFCPEZIBECFFOTFFO UIFO JGUIBUUPLFOXBTOUJHOPSFE SFQSPDFTTUIF
    DVSSFOUUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@;>>L?MM
    ;LNC=F?
    ;MC>?
    <FI=EKOIN?
    =?HN?L
    >?N;CFM

    >CL
    >CP
    >F
    ]?F>M?N
    ]AOL?
    @IIN?L
    B?;>?L
    BALIOJ
    G?HO
    H;P
    IF
    J
    M?=NCIH

    OF
    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB Q FMFNFOUJOTDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNF
    QIBECFFOTFFO

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@B
    B
    B
    B
    B
    B
    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB Q FMFNFOUJOTDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNF
    QIBECFFOTFFO

    *GUIF DVSSFOUOPEF Q JTBOFMFNFOUXIPTFUBHOBNFJTPOFPGI I I I I PSI UIFOUIJT
    JTB QBSTFFSSPS Q QPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFOFMFNFOUT Q 

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@JL?
    FCMNCHA
    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB Q FMFNFOUJOTDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNF
    QIBECFFOTFFO

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    *GUIFOFYUUPLFOJTB6 "-*/&'&&% -'


    DIBSBDUFSUPLFO UIFOJHOPSFUIBUUPLFOBOENPWFPOUPUIF
    OFYUPOF /FXMJOFTBUUIFTUBSUPG QSF Q CMPDLTBSFJHOPSFEBTBOBVUIPSJOHDPOWFOJFODF

    4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

    X MN;LNN;AQBIM?N;AH;G?CM@ILG
    *GUIF GPSN FMFNFOUQPJOUFS Q JTOPUOVMM UIFOUIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO

    0UIFSXJTF

    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB Q FMFNFOUJOTDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNF


    QIBECFFOTFFO

    
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO BOETFUUIF GPSN FMFNFOUQPJOUFS Q UPQPJOUUPUIFFMFNFOU
    DSFBUFE

    X MN;LNN;AQBIM?N;AH;G?CMFC
    3VOUIFTFTUFQT

     4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

     *OJUJBMJ[F =>34 UPCFUIF DVSSFOUOPEF Q UIFCPUUPNNPTUOPEFPGUIFTUBDL


    

     ">>?*G =>34 JTBO MJ Q FMFNFOU UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNFMJIBECFFOTFFO


    UIFOKVNQUPUIFMBTUTUFQ

     *G =>34 JTOPUJOUIF GPSNBUUJOH Q DBUFHPSZ BOEJTOPUJOUIF QISBTJOH Q DBUFHPSZ BOEJTOPUBO
    BEESFTT Q EJW Q PS Q Q FMFNFOU UIFOKVNQUPUIFMBTUTUFQ

     0UIFSXJTF TFU =>34 UPUIFQSFWJPVTFOUSZJOUIF TUBDLPGPQFOFMFNFOUT Q BOESFUVSOUPUIFTUFQ


    MBCFMFE ;>>?

     5IJTJTUIFMBTUTUFQ

    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB Q FMFNFOUJOTDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIF


    UBHOBNFQIBECFFOTFFO

    'JOBMMZ JOTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@>>
    >N
    3VOUIFTFTUFQT

     4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

     *OJUJBMJ[F =>34 UPCFUIF DVSSFOUOPEF Q UIFCPUUPNNPTUOPEFPGUIFTUBDL


    

     ">>?*G =>34 JTB EE Q PS EU Q FMFNFOU UIFOBDUBTJGBOFOEUBHXJUIUIFTBNFUBHOBNFBT


    =>34 IBECFFOTFFO UIFOKVNQUPUIFMBTUTUFQ

     *G =>34 JTOPUJOUIF GPSNBUUJOH Q DBUFHPSZ BOEJTOPUJOUIF QISBTJOH Q DBUFHPSZ BOEJTOPUBO
    BEESFTT Q EJW Q PS Q Q FMFNFOU UIFOKVNQUPUIFMBTUTUFQ

     0UIFSXJTF TFU =>34 UPUIFQSFWJPVTFOUSZJOUIF TUBDLPGPQFOFMFNFOUT Q BOESFUVSOUPUIFTUFQ


    MBCFMFE ;>>?

     5IJTJTUIFMBTUTUFQ

    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB Q FMFNFOUJOTDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIF


    UBHOBNFQIBECFFOTFFO

    'JOBMMZ JOTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMJF;CHN?RN
    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB Q FMFNFOUJOTDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNF
    QIBECFFOTFFO

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    4XJUDIUIFUPLFOJ[FSUPUIF 1-"*/5&95TUBUF Q 

    *HM> +G<>:LM:KMM:@PBMAMA>M:@G:F>IE:BGM>QMA:L;>>GL>>G MA:MPBEE;>MA>E:LM


    MHD>G>O>KL>>GHMA>KMA:G<A:K:<M>KMHD>GL:G=MA>>G=
    H?
    [E>MHD>G ;><:NL>MA>K>BL
    GHP:RMHLPBM<AHNMH?MA> ,(%*0!40LM:M> I

    X H?H>N;AQBIM?N;AH;G?CMIH?I@;>>L?MM
    ;LNC=F?
    ;MC>?
    <FI=EKOIN?
    =?HN?L
    >?N;CFM

    >CL
    >CP
    >F
    ]?F>M?N
    ]AOL?
    @IIN?L
    B?;>?L
    BALIOJ
    FCMNCHA
    G?HO
    H;P
    IF
    JL?

    M?=NCIH
    OF
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOTDPQF Q XJUIUIFTBNFUBHOBNFBTUIBUPG
    UIFUPLFO UIFOUIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO

    0UIFSXJTF SVOUIFTFTUFQT

    
     (FOFSBUFJNQMJFEFOEUBHT Q 

     *GUIF DVSSFOUOPEF Q JTOPUBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIBUPGUIFUPLFO UIFOUIJTJTB


    QBSTFFSSPS Q 

     1PQFMFNFOUTGSPNUIF TUBDLPGPQFOFMFNFOUT Q VOUJMBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIF


    UPLFOIBTCFFOQPQQFEGSPNUIFTUBDL

    X H?H>N;AQBIM?N;AH;G?CM@ILG
    -FU =>34 CFUIFFMFNFOUUIBUUIF GPSN FMFNFOUQPJOUFS Q JTTFUUP

    4FUUIF GPSN FMFNFOUQPJOUFS Q UPOVMM

    *G =>34 JTOVMMPSUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWF =>34 JOTDPQF Q UIFOUIJTJTB QBSTF
    FSSPS Q JHOPSFUIFUPLFO

    0UIFSXJTF SVOUIFTFTUFQT

     (FOFSBUFJNQMJFEFOEUBHT Q 

     *GUIF DVSSFOUOPEF Q JTOPU =>34 UIFOUIJTJTB QBSTFFSSPS Q 

     3FNPWF =>34 GSPNUIF TUBDLPGPQFOFMFNFOUT Q 

    X H?H>N;AQBIM?N;AH;G?CMJ
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOTDPQF Q XJUIUIFTBNFUBHOBNFBTUIBUPG
    UIFUPLFO UIFOUIJTJTB QBSTFFSSPS Q BDUBTJGBTUBSUUBHXJUIUIFUBHOBNFQIBECFFOTFFO UIFO
    SFQSPDFTTUIFDVSSFOUUPLFO

    0UIFSXJTF SVOUIFTFTUFQT

     (FOFSBUFJNQMJFEFOEUBHT Q FYDFQUGPSFMFNFOUTXJUIUIFTBNFUBHOBNFBTUIFUPLFO

     *GUIF DVSSFOUOPEF Q JTOPUBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIBUPGUIFUPLFO UIFOUIJTJTB


    QBSTFFSSPS Q 

     1PQFMFNFOUTGSPNUIF TUBDLPGPQFOFMFNFOUT Q VOUJMBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIF


    UPLFOIBTCFFOQPQQFEGSPNUIFTUBDL

    X H?H>N;AQBIM?N;AH;G?CMFC
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOMJTUJUFNTDPQF Q XJUIUIFTBNFUBHOBNFBT
    UIBUPGUIFUPLFO UIFOUIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO

    0UIFSXJTF SVOUIFTFTUFQT

     (FOFSBUFJNQMJFEFOEUBHT Q FYDFQUGPSFMFNFOUTXJUIUIFTBNFUBHOBNFBTUIFUPLFO

     *GUIF DVSSFOUOPEF Q JTOPUBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIBUPGUIFUPLFO UIFOUIJTJTB


    QBSTFFSSPS Q 

     1PQFMFNFOUTGSPNUIF TUBDLPGPQFOFMFNFOUT Q VOUJMBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIF


    UPLFOIBTCFFOQPQQFEGSPNUIFTUBDL

    X H?H>N;AQBIM?N;AH;G?CMIH?I@>>
    >N
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOTDPQF Q XJUIUIFTBNFUBHOBNFBTUIBUPG
    UIFUPLFO UIFOUIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO

    0UIFSXJTF SVOUIFTFTUFQT

     (FOFSBUFJNQMJFEFOEUBHT Q FYDFQUGPSFMFNFOUTXJUIUIFTBNFUBHOBNFBTUIFUPLFO

     *GUIF DVSSFOUOPEF Q JTOPUBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIBUPGUIFUPLFO UIFOUIJTJTB


    QBSTFFSSPS Q 

     1PQFMFNFOUTGSPNUIF TUBDLPGPQFOFMFNFOUT Q VOUJMBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIF


    UPLFOIBTCFFOQPQQFEGSPNUIFTUBDL

    X H?H>N;AQBIM?N;AH;G?CMIH?I@B
    B
    B
    B
    B
    B
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOTDPQF Q XIPTFUBHOBNFJTPOFPGI I
    I I I PSI UIFOUIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO

    
    0UIFSXJTF SVOUIFTFTUFQT

     (FOFSBUFJNQMJFEFOEUBHT Q 

     *GUIF DVSSFOUOPEF Q JTOPUBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIBUPGUIFUPLFO UIFOUIJTJTB


    QBSTFFSSPS Q 

     1PQFMFNFOUTGSPNUIF TUBDLPGPQFOFMFNFOUT Q VOUJMBOFMFNFOUXIPTFUBHOBNFJTPOFPGI


    I I I I PSIIBTCFFOQPQQFEGSPNUIFTUBDL

    X H?H>N;AQBIM?N;AH;G?CMM;L=;MG
    5BLFBEFFQCSFBUI UIFOBDUBTEFTDSJCFEJOUIFBOZPUIFSFOEUBHFOUSZCFMPX

    X MN;LNN;AQBIM?N;AH;G?CM;
    *GUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q DPOUBJOTBOFMFNFOUXIPTFUBHOBNFJTBCFUXFFOUIFFOEPG
    UIFMJTUBOEUIFMBTUNBSLFSPOUIFMJTU PSUIFTUBSUPGUIFMJTUJGUIFSFJTOPNBSLFSPOUIFMJTU
    UIFOUIJTJTB
    QBSTFFSSPS Q BDUBTJGBOFOEUBHXJUIUIFUBHOBNFBIBECFFOTFFO UIFOSFNPWFUIBUFMFNFOUGSPNUIF
    MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q BOEUIF TUBDLPGPQFOFMFNFOUT Q JGUIFFOEUBHEJEOUBMSFBEZSFNPWF
    JU JUNJHIUOPUIBWFJGUIFFMFNFOUJTOPU JOUBCMFTDPQF Q
    

    *OUIFOPODPOGPSNJOHTUSFBN B ISFGBBUBCMFB ISFGCCUBCMFY UIFИSTU B Q


    FMFNFOUXPVMECFDMPTFEVQPOTFFJOHUIFTFDPOEPOF BOEUIFYDIBSBDUFSXPVMECFJOTJEFBMJOLUP
    C OPUUPB5IJTJTEFTQJUFUIFGBDUUIBUUIFPVUFS B Q FMFNFOUJTOPUJOUBCMFTDPQF NFBOJOHUIBU
    BSFHVMBS B FOEUBHBUUIFTUBSUPGUIFUBCMFXPVMEOUDMPTFUIFPVUFS B Q FMFNFOU
    5IFSFTVMUJT
    UIBUUIFUXP B Q FMFNFOUTBSFJOEJSFDUMZOFTUFEJOTJEFFBDIPUIFSǡOPODPOGPSNJOHNBSLVQXJMMPGUFO
    SFTVMUJOOPODPOGPSNJOH%0.TXIFOQBSTFE

    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO"EEUIBUFMFNFOUUPUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@<
    <CA
    =I>?
    ?G
    @IHN
    C
    M
    MG;FF
    MNLCE?

    MNLIHA
    NN
    O
    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO"EEUIBUFMFNFOUUPUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

    X MN;LNN;AQBIM?N;AH;G?CMHI<L
    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB OPCS FMFNFOUJOTDPQF Q UIFOUIJTJTB QBSTFFSSPS Q BDUBTJGBO
    FOEUBHXJUIUIFUBHOBNFOPCSIBECFFOTFFO UIFOPODFBHBJO SFDPOTUSVDUUIFBDUJWFGPSNBUUJOH
    FMFNFOUT Q JGBOZ

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO"EEUIBUFMFNFOUUPUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

    X H?H>N;AQBIM?N;AH;G?CMIH?I@;
    <
    <CA
    =I>?
    ?G
    @IHN
    C
    HI<L
    M
    MG;FF

    MNLCE?
    MNLIHA
    NN
    O
    3VOUIFTFTUFQT

     -FUUIF 5>A<0CC8=64;4<4=C CFUIFMBTUFMFNFOUJOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q UIBU

    Ǭ JTCFUXFFOUIFFOEPGUIFMJTUBOEUIFMBTUTDPQFNBSLFSJOUIFMJTU JGBOZ PSUIFTUBSUPG


    UIFMJTUPUIFSXJTF BOE

    Ǭ IBTUIFTBNFUBHOBNFBTUIFUPLFO

    *GUIFSFJTOPTVDIOPEF PS JGUIBUOPEFJTBMTPJOUIF TUBDLPGPQFOFMFNFOUT Q CVUUIFFMFNFOUJT


    OPU JOTDPQF Q UIFOUIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO BOEBCPSUUIFTFTUFQT

    0UIFSXJTF JGUIFSFJTTVDIBOPEF CVUUIBUOPEFJTOPUJOUIF TUBDLPGPQFOFMFNFOUT Q UIFOUIJT


    JTB QBSTFFSSPS Q SFNPWFUIFFMFNFOUGSPNUIFMJTU BOEBCPSUUIFTFTUFQT

    0UIFSXJTF UIFSFJTB 5>A<0CC8=64;4<4=C BOEUIBUFMFNFOUJTJO UIFTUBDL Q BOEJT JOTDPQF Q *G
    UIFFMFNFOUJTOPUUIF DVSSFOUOPEF Q UIJTJTB QBSTFFSSPS Q *OBOZDBTF QSPDFFEXJUIUIF
    BMHPSJUINBTXSJUUFOJOUIFGPMMPXJOHTUFQT

    
     -FUUIF 5DAC74BC1;>2: CFUIFUPQNPTUOPEFJOUIF TUBDLPGPQFOFMFNFOUT Q UIBUJTMPXFSJOUIF
    TUBDLUIBOUIF 5>A<0CC8=64;4<4=C BOEJTOPUBOFMFNFOUJOUIF QISBTJOH Q PS GPSNBUUJOH Q
    DBUFHPSJFT5IFSFNJHIUOPUCFPOF

     *GUIFSFJTOP 5DAC74BC1;>2: UIFOUIF6"NVTUTLJQUIFTVCTFRVFOUTUFQTBOEJOTUFBEKVTUQPQBMM


    UIFOPEFTGSPNUIFCPUUPNPGUIF TUBDLPGPQFOFMFNFOUT Q GSPNUIF DVSSFOUOPEF Q VQUPBOE
    JODMVEJOHUIF 5>A<0CC8=64;4<4=C BOESFNPWFUIF 5>A<0CC8=64;4<4=C GSPNUIF MJTUPGBDUJWF
    GPSNBUUJOHFMFNFOUT Q 

     -FUUIF 2><<>=0=24BC>A CFUIFFMFNFOUJNNFEJBUFMZBCPWFUIF 5>A<0CC8=64;4<4=C JOUIF TUBDL


    PGPQFOFMFNFOUT Q 

     -FUBCPPLNBSLOPUFUIFQPTJUJPOPGUIF 5>A<0CC8=64;4<4=C JOUIF MJTUPGBDUJWFGPSNBUUJOH


    FMFNFOUT Q SFMBUJWFUPUIFFMFNFOUTPOFJUIFSTJEFPGJUJOUIFMJTU

     -FU =>34 BOE ;0BC=>34 CFUIF 5DAC74BC1;>2:'PMMPXUIFTFTUFQT

     -FU =>34 CFUIFFMFNFOUJNNFEJBUFMZBCPWF =>34 JOUIF TUBDLPGPQFOFMFNFOUT Q PSJG


    =>34 JTOPMPOHFSJOUIF TUBDLPGPQFOFMFNFOUT Q FHCFDBVTFJUHPUSFNPWFECZUIF
    OFYUTUFQ
    UIFFMFNFOUUIBUXBTJNNFEJBUFMZBCPWF =>34 JOUIF TUBDLPGPQFO
    FMFNFOUT Q CFGPSF =>34 XBTSFNPWFE

     *G =>34 JTOPUJOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q UIFOSFNPWF =>34 GSPNUIF


    TUBDLPGPQFOFMFNFOUT Q BOEUIFOHPCBDLUPTUFQ

     0UIFSXJTF JG =>34 JTUIF 5>A<0CC8=64;4<4=C UIFOHPUPUIFOFYUTUFQJOUIFPWFSBMM


    BMHPSJUIN

     0UIFSXJTF JG ;0BC=>34 JTUIF 5DAC74BC1;>2: UIFONPWFUIFBGPSFNFOUJPOFECPPLNBSLUP


    CFJNNFEJBUFMZBGUFSUIF =>34 JOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

     $SFBUFBOFMFNFOUGPSUIFUPLFO Q GPSXIJDIUIFFMFNFOU =>34 XBTDSFBUFE SFQMBDFUIF


    FOUSZGPS =>34 JOUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q XJUIBOFOUSZGPSUIFOFX
    FMFNFOU SFQMBDFUIFFOUSZGPS =>34 JOUIF TUBDLPGPQFOFMFNFOUT Q XJUIBOFOUSZGPS
    UIFOFXFMFNFOU BOEMFU =>34 CFUIFOFXFMFNFOU

     *OTFSU ;0BC=>34 JOUP =>34 ИSTUSFNPWJOHJUGSPNJUTQSFWJPVTQBSFOUOPEFJGBOZ

     -FU ;0BC=>34 CF =>34

     3FUVSOUPTUFQPGUIJTJOOFSTFUPGTUFQT

     *GUIF 2><<>=0=24BC>A OPEFJTB UBCMF Q UCPEZ Q UGPPU Q UIFBE Q PS US Q FMFNFOU UIFO
    GPTUFSQBSFOU Q XIBUFWFS ;0BC=>34 FOEFEVQCFJOHJOUIFQSFWJPVTTUFQ ИSTUSFNPWJOHJUGSPNJUT
    QSFWJPVTQBSFOUOPEFJGBOZ

    0UIFSXJTF BQQFOEXIBUFWFS ;0BC=>34 FOEFEVQCFJOHJOUIFQSFWJPVTTUFQUPUIF 2><<>=


    0=24BC>A OPEF ИSTUSFNPWJOHJUGSPNJUTQSFWJPVTQBSFOUOPEFJGBOZ

     $SFBUFBOFMFNFOUGPSUIFUPLFO Q GPSXIJDIUIF 5>A<0CC8=64;4<4=C XBTDSFBUFE

     5BLFBMMPGUIFDIJMEOPEFTPGUIF 5DAC74BC1;>2: BOEBQQFOEUIFNUPUIFFMFNFOUDSFBUFEJOUIFMBTU


    TUFQ

     "QQFOEUIBUOFXFMFNFOUUPUIF 5DAC74BC1;>2:

     3FNPWFUIF 5>A<0CC8=64;4<4=C GSPNUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q BOEJOTFSUUIFOFX


    FMFNFOUJOUPUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q BUUIFQPTJUJPOPGUIFBGPSFNFOUJPOFE
    CPPLNBSL

     3FNPWFUIF 5>A<0CC8=64;4<4=C GSPNUIF TUBDLPGPQFOFMFNFOUT Q BOEJOTFSUUIFOFXFMFNFOU


    JOUPUIF TUBDLPGPQFOFMFNFOUT Q JNNFEJBUFMZCFMPXUIFQPTJUJPOPGUIF 5DAC74BC1;>2: JOUIBU
    TUBDL

     +VNQCBDLUPTUFQJOUIJTTFSJFTPGTUFQT

    *HM> ><:NL>H?MA>P:RMABL:E@HKBMAF<:NL>L>E>F>GMLMH<A:G@>I:K>GML BMA:L;>>G


    =N;;>=MA>:=HIMBHG:@>G<R:E@HKBMAFBG<HGMK:LMPBMAHMA>KIHLLB;E>:E@HKBMAFL?HK

    
    =>:EBG@PBMAFBLG>LM>=<HGM>GM PAB<ABG<EN=>=MA>BG<>LM:E@HKBMAF MA>L><K>M:Z:BK
    :E@HKBMAF :G=MA>$>BL>G;>K@:E@HKBMAF

    X MN;LNN;AQBIM?N;AH;G?CM<ONNIH
    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB CVUUPO FMFNFOUJOTDPQF Q UIFOUIJTJTB QBSTFFSSPS Q BDUBTJGBO
    FOEUBHXJUIUIFUBHOBNFCVUUPOIBECFFOTFFO UIFOSFQSPDFTTUIFUPLFO

    0UIFSXJTF

    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    *OTFSUBNBSLFSBUUIFFOEPGUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

    4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

    X MN;LNN;ANIE?HQBIM?N;AH;G?CMIH?I@;JJF?N
    G;LKO??
    I<D?=N
    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    *OTFSUBNBSLFSBUUIFFOEPGUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

    4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

    X H?H>N;ANIE?HQBIM?N;AH;G?CMIH?I@;JJF?N
    <ONNIH
    G;LKO??
    I<D?=N
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOTDPQF Q XJUIUIFTBNFUBHOBNFBTUIBUPG
    UIFUPLFO UIFOUIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO

    0UIFSXJTF SVOUIFTFTUFQT

     (FOFSBUFJNQMJFEFOEUBHT Q 

     *GUIF DVSSFOUOPEF Q JTOPUBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIBUPGUIFUPLFO UIFOUIJTJTB


    QBSTFFSSPS Q 

     1PQFMFNFOUTGSPNUIF TUBDLPGPQFOFMFNFOUT Q VOUJMBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIF


    UPLFOIBTCFFOQPQQFEGSPNUIFTUBDL

     $MFBSUIFMJTUPGBDUJWFGPSNBUUJOHFMFNFOUTVQUPUIFMBTUNBSLFS Q 

    X MN;LNN;AQBIM?N;AH;G?CMN;<F?
    *GUIF %PDVNFOU Q JT =>C TFUUP RVJSLTNPEF Q BOEUIF TUBDLPGPQFOFMFNFOUT Q IBTB Q FMFNFOUJO
    TDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNFQIBECFFOTFFO

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

    4XJUDIUIF JOTFSUJPONPEF Q UPJOUBCMF Q 

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@;L?;
    <;M?@IHN
    <AMIOH>
    <L
    ?G<?>
    CGA
    CHJON

    E?SA?H
    Q<L
    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO*NNFEJBUFMZQPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFO


    FMFNFOUT Q 

    "DLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q JGJUJTTFU

    4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@J;L;G
    MIOL=?
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO*NNFEJBUFMZQPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFO
    FMFNFOUT Q 

    "DLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q JGJUJTTFU

    
    X MN;LNN;AQBIM?N;AH;G?CMBL
    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB Q FMFNFOUJOTDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNF
    QIBECFFOTFFO

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO*NNFEJBUFMZQPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFO


    FMFNFOUT Q 

    "DLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q JGJUJTTFU

    4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

    X MN;LNN;AQBIM?N;AH;G?CMCG;A?
    1BSTFFSSPS Q $IBOHFUIFUPLFOTUBHOBNFUPJNHBOESFQSPDFTTJU %POUBTL

    X MN;LNN;AQBIM?N;AH;G?CMCMCH>?R
    1BSTFFSSPS Q 

    *GUIF GPSN FMFNFOUQPJOUFS Q JTOPUOVMM UIFOJHOPSFUIFUPLFO

    0UIFSXJTF

    "DLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q JGJUJTTFU

    "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFGPSNIBECFFOTFFO

    *GUIFUPLFOIBTBOBUUSJCVUFDBMMFEBDUJPO TFUUIF BDUJPO BUUSJCVUFPOUIFSFTVMUJOH GPSN Q FMFNFOUUPUIF


    WBMVFPGUIFBDUJPOBUUSJCVUFPGUIFUPLFO

    "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFISIBECFFOTFFO

    "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFMBCFMIBECFFOTFFO

    "DUBTJGBTUSFBNPGDIBSBDUFSUPLFOTIBECFFOTFFO TFFCFMPXGPSXIBUUIFZTIPVMETBZ
    

    "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFJOQVUIBECFFOTFFO XJUIBMMUIFBUUSJCVUFTGSPNUIFJTJOEFY
    UPLFOFYDFQUOBNF BDUJPO BOEQSPNQU4FUUIF OBNF Q BUUSJCVUFPGUIFSFTVMUJOH JOQVU Q FMFNFOUUP
    UIFWBMVFJTJOEFY

    "DUBTJGBTUSFBNPGDIBSBDUFSUPLFOTIBECFFOTFFO TFFCFMPXGPSXIBUUIFZTIPVMETBZ
    

    "DUBTJGBOFOEUBHUPLFOXJUIUIFUBHOBNFMBCFMIBECFFOTFFO

    "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFISIBECFFOTFFO

    "DUBTJGBOFOEUBHUPLFOXJUIUIFUBHOBNFGPSNIBECFFOTFFO

    *GUIFUPLFOIBTBOBUUSJCVUFXJUIUIFOBNFQSPNQU UIFOUIFИSTUTUSFBNPGDIBSBDUFSTNVTUCFUIFTBNF
    TUSJOHBTHJWFOJOUIBUBUUSJCVUF BOEUIFTFDPOETUSFBNPGDIBSBDUFSTNVTUCFFNQUZ0UIFSXJTF UIFUXP
    TUSFBNTPGDIBSBDUFSUPLFOTUPHFUIFSTIPVME UPHFUIFSXJUIUIF JOQVU Q FMFNFOU FYQSFTTUIFFRVJWBMFOUPG
    5IJTJTBTFBSDIBCMFJOEFY&OUFSTFBSDILFZXPSET JOQVUИFME
    JOUIFVTFSTQSFGFSSFEMBOHVBHF

    X MN;LNN;AQBIM?N;AH;G?CMN?RN;L?;
    3VOUIFTFTUFQT

     *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

     *GUIFOFYUUPLFOJTB6 "-*/&'&&% -'


    DIBSBDUFSUPLFO UIFOJHOPSFUIBUUPLFOBOENPWFPO
    UPUIFOFYUPOF /FXMJOFTBUUIFTUBSUPG UFYUBSFB Q FMFNFOUTBSFJHOPSFEBTBOBVUIPSJOH
    DPOWFOJFODF

     4XJUDIUIFUPLFOJ[FSUPUIF 3$%"5"TUBUF Q 

     -FUUIF PSJHJOBMJOTFSUJPONPEF Q CFUIFDVSSFOU JOTFSUJPONPEF Q 

     4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

     4XJUDIUIF JOTFSUJPONPEF Q UPUFYU Q 

    X MN;LNN;AQBIM?N;AH;G?CMRGJ
    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB Q FMFNFOUJOTDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNF
    QIBECFFOTFFO

    
    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

    'PMMPXUIF HFOFSJDSBXUFYUFMFNFOUQBSTJOHBMHPSJUIN Q 

    X MN;LNN;AQBIM?N;AH;G?CMC@L;G?
    4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

    'PMMPXUIF HFOFSJDSBXUFYUFMFNFOUQBSTJOHBMHPSJUIN Q 

    X MN;LNN;AQBIM?N;AH;G?CMHI?G<?>
    J
    X MN;LNN;AQBIM?N;AH;G?CMHIM=LCJN
    C@NB? M=LCJNCHA^;A CM?H;<F?>
    'PMMPXUIF HFOFSJDSBXUFYUFMFNFOUQBSTJOHBMHPSJUIN Q 

    X MN;LNN;AQBIM?N;AH;G?CMM?F?=N
    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    4FUUIF GSBNFTFUPLЙBH Q UPOPUPL

    *GUIF JOTFSUJPONPEF Q JTPOFPG JOUBCMF Q  JODBQUJPO Q  JODPMVNOHSPVQ Q  JOUBCMFCPEZ Q  JO
    SPX Q  PSJODFMM Q  UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOTFMFDUJOUBCMF Q 0UIFSXJTF TXJUDIUIF
    JOTFSUJPONPEF Q UPJOTFMFDU Q 

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@IJNALIOJ
    IJNCIH
    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTBO PQUJPO FMFNFOUJOTDPQF Q UIFOBDUBTJGBOFOEUBHXJUIUIFUBH
    OBNFPQUJPOIBECFFOTFFO

    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@LJ
    LN
    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB SVCZ FMFNFOUJOTDPQF Q UIFO HFOFSBUFJNQMJFEFOEUBHT Q *GUIF
    DVSSFOUOPEF Q JTOPUUIFOB SVCZ Q FMFNFOU UIJTJTB QBSTFFSSPS Q QPQBMMUIFOPEFTGSPNUIF DVSSFOU
    OPEF Q VQUPUIFOPEFJNNFEJBUFMZCFGPSFUIFCPUUPNNPTU SVCZ Q FMFNFOUPOUIF TUBDLPGPQFO
    FMFNFOUT Q 

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    X H?H>N;AQBIM?N;AH;G?CM<L
    1BSTFFSSPS Q "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFCSIBECFFOTFFO*HOPSFUIFFOEUBHUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMG;NB
    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    "EKVTU.BUI.-BUUSJCVUFT Q GPSUIFUPLFO 5IJTИYFTUIFDBTFPG.BUI.-BUUSJCVUFTUIBUBSFOPUBMM


    MPXFSDBTF

    "EKVTUGPSFJHOBUUSJCVUFT Q GPSUIFUPLFO 5IJTИYFTUIFVTFPGOBNFTQBDFEBUUSJCVUFT JOQBSUJDVMBS9-JOL

    *OTFSUBGPSFJHOFMFNFOU Q GPSUIFUPLFO JOUIF .BUI.-OBNFTQBDF Q 

    *GUIFUPLFOIBTJUT B4;52;>B8=6Q06 TFU QPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFOFMFNFOUT Q BOE
    BDLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q 

    0UIFSXJTF JGUIF JOTFSUJPONPEF Q JTOPUBMSFBEZJOGPSFJHODPOUFOU Q  MFUUIF TFDPOEBSZJOTFSUJPO


    NPEF Q CFUIFDVSSFOU JOTFSUJPONPEF Q BOEUIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOGPSFJHO
    DPOUFOU Q 

    X MN;LNN;AQBIM?N;AH;G?CMMPA
    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    "EKVTU47(BUUSJCVUFT Q GPSUIFUPLFO 5IJTИYFTUIFDBTFPG47(BUUSJCVUFTUIBUBSFOPUBMMMPXFSDBTF

    "EKVTUGPSFJHOBUUSJCVUFT Q GPSUIFUPLFO 5IJTИYFTUIFVTFPGOBNFTQBDFEBUUSJCVUFT JOQBSUJDVMBS9-JOLJO


    47(

    
    *OTFSUBGPSFJHOFMFNFOU Q GPSUIFUPLFO JOUIF 47(OBNFTQBDF Q 

    *GUIFUPLFOIBTJUT B4;52;>B8=6Q06 TFU QPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFOFMFNFOUT Q BOE
    BDLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q 

    0UIFSXJTF JGUIF JOTFSUJPONPEF Q JTOPUBMSFBEZJOGPSFJHODPOUFOU Q  MFUUIF TFDPOEBSZJOTFSUJPO


    NPEF Q CFUIFDVSSFOU JOTFSUJPONPEF Q BOEUIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOGPSFJHO
    DPOUFOU Q 

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@=;JNCIH
    =IF
    =IFALIOJ
    @L;G?
    B?;>
    N<I>S
    N>

    N@IIN
    NB
    NB?;>
    NL
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X HSINB?LMN;LNN;A
    3FDPOTUSVDUUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JGBOZ

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    *HM> 0ABL>E>F>GMPBEE;>: IAK:LBG@ I >E>F>GM

    X HSINB?L?H>N;A
    3VOUIFTFTUFQT

     *OJUJBMJ[F =>34 UPCFUIF DVSSFOUOPEF Q UIFCPUUPNNPTUOPEFPGUIFTUBDL


    

     *G =>34 IBTUIFTBNFUBHOBNFBTUIFUPLFO UIFO

     (FOFSBUFJNQMJFEFOEUBHT Q 

     *GUIFUBHOBNFPGUIFFOEUBHUPLFOEPFTOPUNBUDIUIFUBHOBNFPGUIF DVSSFOU
    OPEF Q UIJTJTB QBSTFFSSPS Q 

     1PQBMMUIFOPEFTGSPNUIF DVSSFOUOPEF Q VQUP =>34 JODMVEJOH =>34 UIFOTUPQUIFTF


    TUFQT

     0UIFSXJTF JG =>34 JTJOOFJUIFSUIF GPSNBUUJOH Q DBUFHPSZOPSUIF QISBTJOH Q DBUFHPSZ UIFOUIJT
    JTB QBSTFFSSPS Q JHOPSFUIFUPLFO BOEBCPSUUIFTFTUFQT

     4FU =>34 UPUIFQSFWJPVTFOUSZJOUIF TUBDLPGPQFOFMFNFOUT Q 

     3FUVSOUPTUFQ

        0B?N?RNCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTUFYU Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?H
    *OTFSUUIFUPLFOTDIBSBDUFS Q JOUPUIF DVSSFOUOPEF Q 

    X H?H> I@ ]F?NIE?H
    1BSTFFSSPS Q 

    *GUIF DVSSFOUOPEF Q JTB TDSJQU Q FMFNFOU NBSLUIF TDSJQU Q FMFNFOUBT BMSFBEZTUBSUFE Q 

    1PQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFOFMFNFOUT Q 

    4XJUDIUIF JOTFSUJPONPEF Q UPUIF PSJHJOBMJOTFSUJPONPEF Q BOESFQSPDFTTUIFDVSSFOUUPLFO

    X H?H>N;AQBIM?N;AH;G?CMM=LCJN
    -FU B2A8?C CFUIF DVSSFOUOPEF Q XIJDIXJMMCFB TDSJQU Q FMFNFOU
    

    1PQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFOFMFNFOUT Q 

    4XJUDIUIF JOTFSUJPONPEF Q UPUIF PSJHJOBMJOTFSUJPONPEF Q 

    -FUUIF >;38=B4AC8>=?>8=C IBWFUIFTBNFWBMVFBTUIFDVSSFOU JOTFSUJPOQPJOU Q -FUUIF JOTFSUJPOQPJOU Q


    CFKVTUCFGPSFUIF OFYUJOQVUDIBSBDUFS Q 

    
    *ODSFNFOUUIFQBSTFST TDSJQUOFTUJOHMFWFM Q CZPOF

    3VO Q UIF B2A8?C5IJTNJHIUDBVTFTPNFTDSJQUUPFYFDVUF XIJDINJHIUDBVTF OFXDIBSBDUFSTUPCFJOTFSUFE


    JOUPUIFUPLFOJ[FS Q BOENJHIUDBVTFUIFUPLFOJ[FSUPPVUQVUNPSFUPLFOT SFTVMUJOHJOB SFFOUSBOU
    JOWPDBUJPOPGUIFQBSTFS Q 

    %FDSFNFOUUIFQBSTFST TDSJQUOFTUJOHMFWFM Q CZPOF*GUIFQBSTFST TDSJQUOFTUJOHMFWFM Q JT[FSP UIFOTFU


    UIF QBSTFSQBVTFЙBH Q UPGBMTF

    -FUUIF JOTFSUJPOQPJOU Q IBWFUIFWBMVFPGUIF >;38=B4AC8>=?>8=C *OPUIFSXPSET SFTUPSFUIF JOTFSUJPO


    QPJOU Q UPJUTQSFWJPVTWBMVF5IJTWBMVFNJHIUCFUIFVOEFИOFEWBMVF

    "UUIJTTUBHF JGUIFSFJTB QFOEJOHQBSTJOHCMPDLJOHTDSJQU Q UIFO


    J
    X %@NB? M=LCJNH?MNCHAF?P?F CMHINT?LI
    4FUUIF QBSTFSQBVTFЙBH Q UPUSVF BOEBCPSUUIFQSPDFTTJOHPGBOZOFTUFEJOWPDBUJPOTPGUIF
    UPLFOJ[FS ZJFMEJOHDPOUSPMCBDLUPUIFDBMMFS 5PLFOJ[BUJPOXJMMSFTVNFXIFOUIFDBMMFSSFUVSOTUP
    UIFPVUFSUSFFDPOTUSVDUJPOTUBHF

    *HM> 0A>MK>><HGLMKN<MBHGLM:@>H?MABLI:KMB<NE:KI:KL>KBL ;>BG@<:EE>=


    K>>GMK:GMER I L:R?KHF:<:EEMH =H<NF>GM PKBM> I

    X +NB?LQCM?
    3VOUIFTFTUFQT

     -FU C74B2A8?C CFUIF QFOEJOHQBSTJOHCMPDLJOHTDSJQU Q 5IFSFJTOPMPOHFSB QFOEJOH


    QBSTJOHCMPDLJOHTDSJQU Q 

     #MPDLUIF UPLFOJ[FS Q GPSUIJTJOTUBODFPGUIF )5.-QBSTFS Q TVDIUIBUUIF FWFOU


    MPPQ Q XJMMOPUSVO UBTLT Q UIBUJOWPLFUIF UPLFOJ[FS Q 

     4QJOUIFFWFOUMPPQ Q VOUJMUIFSFJTOP TUZMFTIFFUCMPDLJOHTDSJQUT Q BOE C74B2A8?CT


    SFBEZUPCFQBSTFSFYFDVUFE Q ЙBHJTTFU

     6OCMPDLUIF UPLFOJ[FS Q GPSUIJTJOTUBODFPGUIF )5.-QBSTFS Q TVDIUIBU UBTLT Q UIBU
    JOWPLFUIF UPLFOJ[FS Q DBOBHBJOCFSVO

     -FUUIF JOTFSUJPOQPJOU Q CFKVTUCFGPSFUIF OFYUJOQVUDIBSBDUFS Q 

     *ODSFNFOUUIFQBSTFST TDSJQUOFTUJOHMFWFM Q CZPOF JUTIPVMECF[FSPCFGPSFUIJTTUFQ


    TPUIJTTFUTJUUPPOF
    

     &YFDVUF Q C74B2A8?C

     %FDSFNFOUUIFQBSTFST TDSJQUOFTUJOHMFWFM Q CZPOF*GUIFQBSTFST TDSJQUOFTUJOH


    MFWFM Q JT[FSP XIJDIJUBMXBZTTIPVMECFBUUIJTQPJOU
    UIFOTFUUIF QBSTFSQBVTF
    ЙBH Q UPGBMTF

     -FUUIF JOTFSUJPOQPJOU Q CFVOEFИOFEBHBJO

     *GUIFSFJTPODFBHBJOB QFOEJOHQBSTJOHCMPDLJOHTDSJQU Q UIFOSFQFBUUIFTFTUFQTGSPN


    TUFQ

    X HSINB?L?H>N;A
    1PQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFOFMFNFOUT Q 

    4XJUDIUIF JOTFSUJPONPEF Q UPUIF PSJHJOBMJOTFSUJPONPEF Q 

        0B?CHN;<F?CHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOUBCMF Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?H
    -FUUIF I>G=BG@M:;E><A:K:<M>KMHD>GL CFBOFNQUZMJTUPGUPLFOT

    -FUUIF PSJHJOBMJOTFSUJPONPEF Q CFUIFDVSSFOU JOTFSUJPONPEF Q 

    4XJUDIUIF JOTFSUJPONPEF Q UPJOUBCMFUFYU Q BOESFQSPDFTTUIFUPLFO

    
    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF DVSSFOUOPEF Q XJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CM=;JNCIH
    $MFBSUIFTUBDLCBDLUPBUBCMFDPOUFYU Q  4FFCFMPX

    *OTFSUBNBSLFSBUUIFFOEPGUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJODBQUJPO Q 

    X MN;LNN;AQBIM?N;AH;G?CM=IFALIOJ
    $MFBSUIFTUBDLCBDLUPBUBCMFDPOUFYU Q  4FFCFMPX

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJODPMVNOHSPVQ Q 

    X MN;LNN;AQBIM?N;AH;G?CM=IF
    "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFDPMHSPVQIBECFFOTFFO UIFOSFQSPDFTTUIFDVSSFOUUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@N<I>S
    N@IIN
    NB?;>
    $MFBSUIFTUBDLCBDLUPBUBCMFDPOUFYU Q  4FFCFMPX

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOUBCMFCPEZ Q 

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@N>
    NB
    NL
    "DUBTJGBTUBSUUBHUPLFOXJUIUIFUBHOBNFUCPEZIBECFFOTFFO UIFOSFQSPDFTTUIFDVSSFOUUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMN;<F?
    1BSTFFSSPS Q "DUBTJGBOFOEUBHUPLFOXJUIUIFUBHOBNFUBCMFIBECFFOTFFO UIFO JGUIBUUPLFOXBTOU
    JHOPSFE SFQSPDFTTUIFDVSSFOUUPLFO

    *HM> 0A>?:D>>G=M:@MHD>GA>K><:GHGER;>B@GHK>=BGMA> ?K:@F>GM<:L> I

    X H?H>N;AQBIM?N;AH;G?CMN;<F?
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOUBCMFTDPQF Q XJUIUIFTBNFUBHOBNFBTUIF
    UPLFO UIJTJTB QBSTFFSSPS Q *HOPSFUIFUPLFO GSBHNFOUDBTF Q

    0UIFSXJTF

    1PQFMFNFOUTGSPNUIJTTUBDLVOUJMB UBCMF Q FMFNFOUIBTCFFOQPQQFEGSPNUIFTUBDL

    3FTFUUIFJOTFSUJPONPEFBQQSPQSJBUFMZ Q 

    X H?H>N;AQBIM?N;AH;G?CMIH?I@<I>S
    =;JNCIH
    =IF
    =IFALIOJ
    BNGF
    N<I>S
    N>

    N@IIN
    NB
    NB?;>
    NL
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@MNSF?
    M=LCJN
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOIFBE Q  JOTFSUJPONPEF Q 

    X MN;LNN;AQBIM?N;AH;G?CMCHJON
    *GUIFUPLFOEPFTOPUIBWFBOBUUSJCVUFXJUIUIFOBNFUZQF PSJGJUEPFT CVUUIBUBUUSJCVUFTWBMVFJTOPUBO
    "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHIJEEFO UIFOBDUBTEFTDSJCFEJOUIFBOZUIJOHFMTFFOUSZ
    CFMPX

    0UIFSXJTF

    1BSTFFSSPS Q 

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    1PQUIBU JOQVU Q FMFNFOUPЗUIF TUBDLPGPQFOFMFNFOUT Q 

    X MN;LNN;AQBIM?N;AH;G?CM@ILG
    1BSTFFSSPS Q 

    
    *GUIF GPSN FMFNFOUQPJOUFS Q JTOPUOVMM JHOPSFUIFUPLFO

    0UIFSXJTF

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    1PQUIBU GPSN Q FMFNFOUPЗUIF TUBDLPGPQFOFMFNFOUT Q 

    X H?H> I@ ]F?NIE?H
    *GUIF DVSSFOUOPEF Q JTOPUUIFSPPU IUNM Q FMFNFOU UIFOUIJTJTB QBSTFFSSPS Q 

    *HM> %M<:GHGER;>MA> <NKK>GMGH=> I BGMA> ?K:@F>GM<:L> I

    4UPQQBSTJOH Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q FYDFQUUIBUJG
    UIF DVSSFOUOPEF Q JTB UBCMF Q UCPEZ Q UGPPU Q UIFBE Q PS US Q FMFNFOU UIFO XIFOFWFSBOPEF
    XPVMECFJOTFSUFEJOUPUIF DVSSFOUOPEF Q JUNVTUJOTUFBECF GPTUFSQBSFOUFE Q 

    8IFOUIFTUFQTBCPWFSFRVJSFUIF6"UP =F?;LNB?MN;=E<;=ENI;N;<F?=IHN?RN JUNFBOTUIBUUIF6"NVTU XIJMF


    UIF DVSSFOUOPEF Q JTOPUB UBCMF Q FMFNFOUPSBO IUNM Q FMFNFOU QPQFMFNFOUTGSPNUIF TUBDLPGPQFO
    FMFNFOUT Q 

    *HM> 0A> <NKK>GMGH=> I ;>BG@:G AMFE I >E>F>GM:?M>KMABLIKH<>LLBL: ?K:@F>GM<:L> I

        0B?CHN;<F?N?RNCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOUBCMFUFYU Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?H
    "QQFOEUIFDIBSBDUFSUPLFOUPUIF ?4=38=6C01;4270A02C4AC>:4=B ? MJTU

    X HSNBCHA?FM?
    *GBOZPGUIFUPLFOTJOUIF ?4=38=6C01;4270A02C4AC>:4=B ? MJTUBSFDIBSBDUFSUPLFOTUIBUBSFOPUPOFPG
    6 $)"3"$5&35"#6-"5*0/ 6 "-*/&'&&% -'
    6 $'03.'&&% ''
    6 %$"33*"(&
    3&563/ $3
    PS6 41"$& UIFOSFQSPDFTTUIPTFDIBSBDUFSUPLFOTVTJOHUIFSVMFTHJWFOJOUIF
    BOZUIJOHFMTFFOUSZJOUIF JOUBCMF Q JOTFSUJPONPEF

    0UIFSXJTF JOTFSUUIFDIBSBDUFST Q HJWFOCZUIF ?4=38=6C01;4270A02C4AC>:4=B ? MJTUJOUPUIF DVSSFOU


    OPEF Q 

    4XJUDIUIF JOTFSUJPONPEF Q UPUIF PSJHJOBMJOTFSUJPONPEF Q BOESFQSPDFTTUIFUPLFO

        0B?CH=;JNCIHCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJODBQUJPO Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X H?H>N;AQBIM?N;AH;G?CM=;JNCIH
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOUBCMFTDPQF Q XJUIUIFTBNFUBHOBNFBTUIF
    UPLFO UIJTJTB QBSTFFSSPS Q *HOPSFUIFUPLFO GSBHNFOUDBTF Q

    0UIFSXJTF

    (FOFSBUFJNQMJFEFOEUBHT Q 

    /PX JGUIF DVSSFOUOPEF Q JTOPUB DBQUJPO Q FMFNFOU UIFOUIJTJTB QBSTFFSSPS Q 

    1PQFMFNFOUTGSPNUIJTTUBDLVOUJMB DBQUJPO Q FMFNFOUIBTCFFOQPQQFEGSPNUIFTUBDL

    $MFBSUIFMJTUPGBDUJWFGPSNBUUJOHFMFNFOUTVQUPUIFMBTUNBSLFS Q 

    4XJUDIUIF JOTFSUJPONPEF Q UPJOUBCMF Q 

    
    X MN;LNN;AQBIM?N;AH;G?CMIH?I@=;JNCIH
    =IF
    =IFALIOJ
    N<I>S
    N>
    N@IIN
    NB
    NB?;>

    NL
    X H?H>N;AQBIM?N;AH;G?CMN;<F?
    1BSTFFSSPS Q "DUBTJGBOFOEUBHXJUIUIFUBHOBNFDBQUJPOIBECFFOTFFO UIFO JGUIBUUPLFOXBTOU
    JHOPSFE SFQSPDFTTUIFDVSSFOUUPLFO

    *HM> 0A>?:D>>G=M:@MHD>GA>K><:GHGER;>B@GHK>=BGMA> ?K:@F>GM<:L> I

    X H?H>N;AQBIM?N;AH;G?CMIH?I@<I>S
    =IF
    =IFALIOJ
    BNGF
    N<I>S
    N>
    N@IIN
    NB

    NB?;>
    NL
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X HSNBCHA?FM?
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

        0B?CH=IFOGHALIOJCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJODPMVNOHSPVQ Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    *OTFSUUIFDIBSBDUFS Q JOUPUIF DVSSFOUOPEF Q 

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF DVSSFOUOPEF Q XJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X MN;LNN;AQBIM?N;AH;G?CM=IF
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO*NNFEJBUFMZQPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFO
    FMFNFOUT Q 

    "DLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q JGJUJTTFU

    X H?H>N;AQBIM?N;AH;G?CM=IFALIOJ
    *GUIF DVSSFOUOPEF Q JTUIFSPPU IUNM Q FMFNFOU UIFOUIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO GSBHNFOU
    DBTF Q

    0UIFSXJTF QPQUIF DVSSFOUOPEF Q XIJDIXJMMCFB DPMHSPVQ Q FMFNFOU


    GSPNUIF TUBDLPGPQFO
    FMFNFOUT Q 4XJUDIUIF JOTFSUJPONPEF Q UPJOUBCMF Q 

    X H?H>N;AQBIM?N;AH;G?CM=IF
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X H?H> I@ ]F?NIE?H
    *GUIF DVSSFOUOPEF Q JTUIFSPPU IUNM Q FMFNFOU UIFO TUPQQBSTJOH Q  GSBHNFOUDBTF Q

    0UIFSXJTF BDUBTEFTDSJCFEJOUIFBOZUIJOHFMTFFOUSZCFMPX

    X HSNBCHA?FM?
    "DUBTJGBOFOEUBHXJUIUIFUBHOBNFDPMHSPVQIBECFFOTFFO BOEUIFO JGUIBUUPLFOXBTOUJHOPSFE
    SFQSPDFTTUIFDVSSFOUUPLFO

    *HM> 0A>?:D>>G=M:@MHD>GA>K><:GHGER;>B@GHK>=BGMA> ?K:@F>GM<:L> I

        0B?CHN;<F?<I>SCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOUBCMFCPEZ Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    
    X MN;LNN;AQBIM?N;AH;G?CMNL
    $MFBSUIFTUBDLCBDLUPBUBCMFCPEZDPOUFYU Q  4FFCFMPX

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJOSPX Q 

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@NB
    N>
    1BSTFFSSPS Q "DUBTJGBTUBSUUBHXJUIUIFUBHOBNFUSIBECFFOTFFO UIFOSFQSPDFTTUIFDVSSFOUUPLFO

    X H?H>N;AQBIM?N;AH;G?CMIH?I@N<I>S
    N@IIN
    NB?;>
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOUBCMFTDPQF Q XJUIUIFTBNFUBHOBNFBTUIF
    UPLFO UIJTJTB QBSTFFSSPS Q *HOPSFUIFUPLFO

    0UIFSXJTF

    $MFBSUIFTUBDLCBDLUPBUBCMFCPEZDPOUFYU Q  4FFCFMPX

    1PQUIF DVSSFOUOPEF Q GSPNUIF TUBDLPGPQFOFMFNFOUT Q 4XJUDIUIF JOTFSUJPONPEF Q UPJOUBCMF Q 

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@=;JNCIH
    =IF
    =IFALIOJ
    N<I>S
    N@IIN
    NB?;>
    X H?H>N;AQBIM?N;AH;G?CMN;<F?
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFB UCPEZ UIFBE PS UGPPU FMFNFOUJOUBCMFTDPQF Q UIJTJTB
    QBSTFFSSPS Q *HOPSFUIFUPLFO GSBHNFOUDBTF Q

    0UIFSXJTF

    $MFBSUIFTUBDLCBDLUPBUBCMFCPEZDPOUFYU Q  4FFCFMPX

    "DUBTJGBOFOEUBHXJUIUIFTBNFUBHOBNFBTUIF DVSSFOUOPEF Q UCPEZ UGPPU PSUIFBE


    IBECFFO
    TFFO UIFOSFQSPDFTTUIFDVSSFOUUPLFO

    X H?H>N;AQBIM?N;AH;G?CMIH?I@<I>S
    =;JNCIH
    =IF
    =IFALIOJ
    BNGF
    N>
    NB
    NL
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X HSNBCHA?FM?
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOUBCMF Q  JOTFSUJPONPEF Q 

    8IFOUIFTUFQTBCPWFSFRVJSFUIF6"UP =F?;LNB?MN;=E<;=ENI;N;<F?<I>S=IHN?RN JUNFBOTUIBUUIF6"NVTU


    XIJMFUIF DVSSFOUOPEF Q JTOPUB UCPEZ Q UGPPU Q UIFBE Q PS IUNM Q FMFNFOU QPQFMFNFOUTGSPNUIF TUBDLPG
    PQFOFMFNFOUT Q 

    *HM> 0A> <NKK>GMGH=> I ;>BG@:G AMFE I >E>F>GM:?M>KMABLIKH<>LLBL: ?K:@F>GM<:L> I

        0B?CHLIQCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOSPX Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@NB
    N>
    $MFBSUIFTUBDLCBDLUPBUBCMFSPXDPOUFYU Q  4FFCFMPX

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO UIFOTXJUDIUIF JOTFSUJPONPEF Q UPJODFMM Q 

    *OTFSUBNBSLFSBUUIFFOEPGUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q 

    X H?H>N;AQBIM?N;AH;G?CMNL
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOUBCMFTDPQF Q XJUIUIFTBNFUBHOBNFBTUIF
    UPLFO UIJTJTB QBSTFFSSPS Q *HOPSFUIFUPLFO GSBHNFOUDBTF Q

    0UIFSXJTF

    $MFBSUIFTUBDLCBDLUPBUBCMFSPXDPOUFYU Q  4FFCFMPX

    1PQUIF DVSSFOUOPEF Q XIJDIXJMMCFB US Q FMFNFOU


    GSPNUIF TUBDLPGPQFOFMFNFOUT Q 4XJUDIUIF
    JOTFSUJPONPEF Q UPJOUBCMFCPEZ Q 

    
    X MN;LNN;AQBIM?N;AH;G?CMIH?I@=;JNCIH
    =IF
    =IFALIOJ
    N<I>S
    N@IIN
    NB?;>
    NL
    X H?H>N;AQBIM?N;AH;G?CMN;<F?
    "DUBTJGBOFOEUBHXJUIUIFUBHOBNFUSIBECFFOTFFO UIFO JGUIBUUPLFOXBTOUJHOPSFE SFQSPDFTTUIF
    DVSSFOUUPLFO

    *HM> 0A>?:D>>G=M:@MHD>GA>K><:GHGER;>B@GHK>=BGMA> ?K:@F>GM<:L> I

    X H?H>N;AQBIM?N;AH;G?CMIH?I@N<I>S
    N@IIN
    NB?;>
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOUBCMFTDPQF Q XJUIUIFTBNFUBHOBNFBTUIF
    UPLFO UIJTJTB QBSTFFSSPS Q *HOPSFUIFUPLFO

    0UIFSXJTF BDUBTJGBOFOEUBHXJUIUIFUBHOBNFUSIBECFFOTFFO UIFOSFQSPDFTTUIFDVSSFOUUPLFO

    X H?H>N;AQBIM?N;AH;G?CMIH?I@<I>S
    =;JNCIH
    =IF
    =IFALIOJ
    BNGF
    N>
    NB
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X HSNBCHA?FM?
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOUBCMF Q  JOTFSUJPONPEF Q 

    8IFOUIFTUFQTBCPWFSFRVJSFUIF6"UP =F?;LNB?MN;=E<;=ENI;N;<F?LIQ=IHN?RN JUNFBOTUIBUUIF6"NVTU


    XIJMFUIF DVSSFOUOPEF Q JTOPUB US Q FMFNFOUPSBO IUNM Q FMFNFOU QPQFMFNFOUTGSPNUIF TUBDLPGPQFO
    FMFNFOUT Q 

    *HM> 0A> <NKK>GMGH=> I ;>BG@:G AMFE I >E>F>GM:?M>KMABLIKH<>LLBL: ?K:@F>GM<:L> I

        0B?CH=?FFCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJODFMM Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X H?H>N;AQBIM?N;AH;G?CMIH?I@N>
    NB
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOUBCMFTDPQF Q XJUIUIFTBNFUBHOBNFBT
    UIBUPGUIFUPLFO UIFOUIJTJTB QBSTFFSSPS Q BOEUIFUPLFONVTUCFJHOPSFE

    0UIFSXJTF

    (FOFSBUFJNQMJFEFOEUBHT Q 

    /PX JGUIF DVSSFOUOPEF Q JTOPUBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIFUPLFO UIFOUIJTJTB QBSTF


    FSSPS Q 

    1PQFMFNFOUTGSPNUIF TUBDLPGPQFOFMFNFOUT Q TUBDLVOUJMBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIF


    UPLFOIBTCFFOQPQQFEGSPNUIFTUBDL

    $MFBSUIFMJTUPGBDUJWFGPSNBUUJOHFMFNFOUTVQUPUIFMBTUNBSLFS Q 

    4XJUDIUIF JOTFSUJPONPEF Q UPJOSPX Q  5IF DVSSFOUOPEF Q XJMMCFB US Q FMFNFOUBUUIJTQPJOU

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@=;JNCIH
    =IF
    =IFALIOJ
    N<I>S
    N>
    N@IIN
    NB
    NB?;>

    NL
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFT =>C IBWFB UE PS UI FMFNFOUJOUBCMFTDPQF Q UIFOUIJTJTB QBSTF
    FSSPS Q JHOPSFUIFUPLFO GSBHNFOUDBTF Q

    0UIFSXJTF DMPTFUIFDFMM Q TFFCFMPX


    BOESFQSPDFTTUIFDVSSFOUUPLFO

    X H?H>N;AQBIM?N;AH;G?CMIH?I@<I>S
    =;JNCIH
    =IF
    =IFALIOJ
    BNGF
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X H?H>N;AQBIM?N;AH;G?CMIH?I@N;<F?
    N<I>S
    N@IIN
    NB?;>
    NL
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOUBCMFTDPQF Q XJUIUIFTBNFUBHOBNFBT
    UIBUPGUIFUPLFO XIJDIDBOPOMZIBQQFOGPSUCPEZ UGPPUBOEUIFBE PS JOUIF GSBHNFOUDBTF Q
    UIFO
    UIJTJTB QBSTFFSSPS Q BOEUIFUPLFONVTUCFJHOPSFE

    0UIFSXJTF DMPTFUIFDFMM Q TFFCFMPX


    BOESFQSPDFTTUIFDVSSFOUUPLFO

    X HSNBCHA?FM?
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    
    8IFSFUIFTUFQTBCPWFTBZUP =FIM?NB?=?FF UIFZNFBOUPSVOUIFGPMMPXJOHBMHPSJUIN

     *GUIF TUBDLPGPQFOFMFNFOUT Q IBTB UE FMFNFOUJOUBCMFTDPQF Q UIFOBDUBTJGBOFOEUBHUPLFOXJUIUIF


    UBHOBNFUEIBECFFOTFFO

     0UIFSXJTF UIF TUBDLPGPQFOFMFNFOUT Q XJMM IBWFB UI FMFNFOUJOUBCMFTDPQF Q BDUBTJGBOFOEUBH


    UPLFOXJUIUIFUBHOBNFUIIBECFFOTFFO

    *HM> 0A> LM:<DH?HI>G>E>F>GML I <:GGHMA:O>;HMA: M= I :G=: MA I >E>F>GM BGM:;E>
    L<HI> I :MMA>L:F>MBF> GHK<:GBMA:O>G>BMA>KPA>GMA> BGL>KMBHGFH=> I BLBG<>EE I 

        0B?CHM?F?=NCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOTFMFDU Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?H
    *OTFSUUIFUPLFOTDIBSBDUFS Q JOUPUIF DVSSFOUOPEF Q 

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF DVSSFOUOPEF Q XJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X MN;LNN;AQBIM?N;AH;G?CMIJNCIH
    *GUIF DVSSFOUOPEF Q JTBO PQUJPO Q FMFNFOU BDUBTJGBOFOEUBHXJUIUIFUBHOBNFPQUJPOIBECFFO
    TFFO

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMIJNALIOJ
    *GUIF DVSSFOUOPEF Q JTBO PQUJPO Q FMFNFOU BDUBTJGBOFOEUBHXJUIUIFUBHOBNFPQUJPOIBECFFO
    TFFO

    *GUIF DVSSFOUOPEF Q JTBO PQUHSPVQ Q FMFNFOU BDUBTJGBOFOEUBHXJUIUIFUBHOBNFPQUHSPVQIBE


    CFFOTFFO

    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    X H?H>N;AQBIM?N;AH;G?CMIJNALIOJ
    'JSTU JGUIF DVSSFOUOPEF Q JTBO PQUJPO Q FMFNFOU BOEUIFOPEFJNNFEJBUFMZCFGPSFJUJOUIF TUBDLPGPQFO
    FMFNFOUT Q JTBO PQUHSPVQ Q FMFNFOU UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNFPQUJPOIBECFFOTFFO

    *GUIF DVSSFOUOPEF Q JTBO PQUHSPVQ Q FMFNFOU UIFOQPQUIBUOPEFGSPNUIF TUBDLPGPQFOFMFNFOUT Q 
    0UIFSXJTF UIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO

    X H?H>N;AQBIM?N;AH;G?CMIJNCIH
    *GUIF DVSSFOUOPEF Q JTBO PQUJPO Q FMFNFOU UIFOQPQUIBUOPEFGSPNUIF TUBDLPGPQFOFMFNFOUT Q 
    0UIFSXJTF UIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO

    X H?H>N;AQBIM?N;AH;G?CMM?F?=N
    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFBOFMFNFOUJOUBCMFTDPQF Q XJUIUIFTBNFUBHOBNFBTUIF
    UPLFO UIJTJTB QBSTFFSSPS Q *HOPSFUIFUPLFO GSBHNFOUDBTF Q

    0UIFSXJTF

    1PQFMFNFOUTGSPNUIF TUBDLPGPQFOFMFNFOUT Q VOUJMB TFMFDU Q FMFNFOUIBTCFFOQPQQFEGSPNUIF


    TUBDL

    3FTFUUIFJOTFSUJPONPEFBQQSPQSJBUFMZ Q 

    
    X MN;LNN;AQBIM?N;AH;G?CMM?F?=N
    1BSTFFSSPS Q "DUBTJGUIFUPLFOIBECFFOBOFOEUBHXJUIUIFUBHOBNFTFMFDUJOTUFBE

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@CHJON
    E?SA?H
    N?RN;L?;
    1BSTFFSSPS Q 

    *GUIF TUBDLPGPQFOFMFNFOUT Q EPFTOPU IBWFB TFMFDU FMFNFOUJOUBCMFTDPQF Q JHOPSFUIFUPLFO


    GSBHNFOUDBTF Q

    0UIFSXJTF BDUBTJGBOFOEUBHXJUIUIFUBHOBNFTFMFDUIBECFFOTFFO BOESFQSPDFTTUIFUPLFO

    X MN;LNN;ANIE?HQBIM?N;AH;G?CMM=LCJN
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOIFBE Q  JOTFSUJPONPEF Q 

    X H?H> I@ ]F?NIE?H
    *GUIF DVSSFOUOPEF Q JTOPUUIFSPPU IUNM Q FMFNFOU UIFOUIJTJTB QBSTFFSSPS Q 

    *HM> %M<:GHGER;>MA> <NKK>GMGH=> I BGMA> ?K:@F>GM<:L> I

    4UPQQBSTJOH Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q *HOPSFUIFUPLFO

        0B?CHM?F?=NCHN;<F?CHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOTFMFDUJOUBCMF Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@=;JNCIH
    N;<F?
    N<I>S
    N@IIN
    NB?;>
    NL
    N>
    NB
    1BSTFFSSPS Q "DUBTJGBOFOEUBHXJUIUIFUBHOBNFTFMFDUIBECFFOTFFO BOESFQSPDFTTUIFUPLFO

    X H?H>N;AQBIM?N;AH;G?CMIH?I@=;JNCIH
    N;<F?
    N<I>S
    N@IIN
    NB?;>
    NL
    N>
    NB
    1BSTFFSSPS Q 

    *GUIF TUBDLPGPQFOFMFNFOUT Q IBTBOFMFNFOUJOUBCMFTDPQF Q XJUIUIFTBNFUBHOBNFBTUIBUPGUIF


    UPLFO UIFOBDUBTJGBOFOEUBHXJUIUIFUBHOBNFTFMFDUIBECFFOTFFO BOESFQSPDFTTUIFUPLFO
    0UIFSXJTF JHOPSFUIFUPLFO

    X HSNBCHA?FM?
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOTFMFDU Q  JOTFSUJPONPEF Q 

        0B?CH@IL?CAH=IHN?HNCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOGPSFJHODPOUFOU Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?H
    *OTFSUUIFUPLFOTDIBSBDUFS Q JOUPUIF DVSSFOUOPEF Q 

    *GUIFUPLFOJTOPUPOFPG6 $)"3"$5&35"#6-"5*0/ 6 "-*/&'&&% -'


    6 $'03.'&&%
    ''
    6 %$"33*"(&3&563/ $3
    PS6 41"$& UIFOTFUUIF GSBNFTFUPLЙBH Q UPOPUPL

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF DVSSFOUOPEF Q XJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO
    J
    X H?H>N;AQBIM?N;AH;G?CMM=LCJN
    C@NB? =OLL?HNHI>? CM; N>MDKO ?F?G?HNCHNB? /2#
    H;G?MJ;=? J
    1PQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFOFMFNFOUT Q 

    -FUUIF >;38=B4AC8>=?>8=C IBWFUIFTBNFWBMVFBTUIFDVSSFOU JOTFSUJPOQPJOU Q -FUUIF JOTFSUJPOQPJOU Q


    CFKVTUCFGPSFUIF OFYUJOQVUDIBSBDUFS Q 

    
    *ODSFNFOUUIFQBSTFST TDSJQUOFTUJOHMFWFM Q CZPOF4FUUIF QBSTFSQBVTFЙBH Q UPUSVF

    1SPDFTTUIF TDSJQU FMFNFOU BDDPSEJOHUPUIF47(SVMFT JGUIFVTFSBHFOUTVQQPSUT47( <47(> Q

    *HM> !O>GB?MABL<:NL>L G>P<A:K:<M>KLMH;>BGL>KM>=BGMHMA>MHD>GBS>K I  MA>I:KL>K


    PBEEGHM;>>Q><NM>=K>>GMK:GMER LBG<>MA> I:KL>KI:NL>\:@ I BLMKN>

    %FDSFNFOUUIFQBSTFST TDSJQUOFTUJOHMFWFM Q CZPOF*GUIFQBSTFST TDSJQUOFTUJOHMFWFM Q JT[FSP UIFOTFU


    UIF QBSTFSQBVTFЙBH Q UPGBMTF

    -FUUIF JOTFSUJPOQPJOU Q IBWFUIFWBMVFPGUIF >;38=B4AC8>=?>8=C *OPUIFSXPSET SFTUPSFUIF JOTFSUJPO


    QPJOU Q UPJUTQSFWJPVTWBMVF5IJTWBMVFNJHIUCFUIFVOEFИOFEWBMVF

    J
    X H?H>N;A
    C@NB? =OLL?HNHI>? CMHIN;H?F?G?HNCHNB? $0)(H;G?MJ;=? J
    3VOUIFTFTUFQT

     *OJUJBMJ[F =>34 UPCFUIF DVSSFOUOPEF Q UIFCPUUPNNPTUOPEFPGUIFTUBDL


    

     *G =>34 JTOPUBOFMFNFOUXJUIUIFTBNFUBHOBNFBTUIFUPLFO UIFOUIJTJTB QBSTFFSSPS Q 

     ">>?*G =>34 IBTUIFTBNFUBHOBNFBTUIFUPLFO QPQFMFNFOUTGSPNUIF TUBDLPGPQFO


    FMFNFOUT Q VOUJM =>34 IBTCFFOQPQQFEGSPNUIFTUBDL BOEUIFOBCPSUUIFTFTUFQT

     4FU =>34 UPUIFQSFWJPVTFOUSZJOUIF TUBDLPGPQFOFMFNFOUT Q 

     *G =>34 JTBOFMFNFOUJOUIF )5.-OBNFTQBDF Q QSPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIF


    TFDPOEBSZJOTFSUJPONPEF Q *G BGUFSEPJOHTP UIF JOTFSUJPONPEF Q JTTUJMMJOGPSFJHO
    DPOUFOU Q  CVUUIFSFJTOPFMFNFOU JOTDPQF Q UIBUIBTBOBNFTQBDFPUIFSUIBOUIF )5.-
    OBNFTQBDF Q TXJUDIUIF JOTFSUJPONPEF Q UPUIF TFDPOEBSZJOTFSUJPONPEF Q 

     3FUVSOUPUIFTUFQMBCFMFE ;>>?
    J
    X MN;LNN;AQBIM?N;AH;G?CMH?CNB?LGAFSJBHILG;FCAHG;LE
    C@NB? =OLL?HNHI>? CM;H HD
    J
    ?F?G?HNCHNB? );NB)(H;G?MJ;=?
    J
    X MN;LNN;AQBIM?N;AH;G?CMH?CNB?LGAFSJBHILG;FCAHG;LE
    C@NB? =OLL?HNHI>? CM;H HJ
    J
    ?F?G?HNCHNB? );NB)(H;G?MJ;=?
    J
    X MN;LNN;AQBIM?N;AH;G?CMH?CNB?LGAFSJBHILG;FCAHG;LE
    C@NB? =OLL?HNHI>? CM;H HI
    J
    ?F?G?HNCHNB? );NB)(H;G?MJ;=?
    J
    X MN;LNN;AQBIM?N;AH;G?CMH?CNB?LGAFSJBHILG;FCAHG;LE
    C@NB? =OLL?HNHI>? CM;H HN
    ?F?G?HNCHNB? );NB)(H;G?MJ;=? J
    J
    X MN;LNN;AQBIM?N;AH;G?CMH?CNB?LGAFSJBHILG;FCAHG;LE
    C@NB? =OLL?HNHI>? CM;H HO@SO
    ?F?G?HNCHNB? );NB)(H;G?MJ;=? J
    J
    X MN;LNN;AQBIM?N;AH;G?CMMPA
    C@NB? =OLL?HNHI>? CM;H <IIJO<ODJI SHG ?F?G?HNCHNB?
    J
    );NB)(H;G?MJ;=?
    J
    X MN;LNN;A
    C@NB? =OLL?HNHI>? CM; AJM@DBI-=E@>O ?F?G?HNCHNB? /2#H;G?MJ;=? J
    J
    X MN;LNN;A
    C@NB? =OLL?HNHI>? CM; ?@N> ?F?G?HNCHNB? /2#H;G?MJ;=? J
    J
    X MN;LNN;A
    C@NB? =OLL?HNHI>? CM; ODOG@ ?F?G?HNCHNB? /2#H;G?MJ;=? J
    J
    X MN;LNN;A
    C@NB? =OLL?HNHI>? CM;H?F?G?HNCHNB? $0)(H;G?MJ;=? J
    X HSINB?L?H>N;A
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIF TFDPOEBSZJOTFSUJPONPEF Q 

    *G BGUFSEPJOHTP UIF JOTFSUJPONPEF Q JTTUJMMJOGPSFJHODPOUFOU Q  CVUUIFSFJTOPFMFNFOU JOTDPQF Q


    UIBUIBTBOBNFTQBDFPUIFSUIBOUIF )5.-OBNFTQBDF Q TXJUDIUIF JOTFSUJPONPEF Q UPUIF TFDPOEBSZ
    JOTFSUJPONPEF Q 

    X MN;LNN;AQBIM?N;AH;G?CMIH?I@<
    <CA
    <FI=EKOIN?
    <I>S
    <L
    =?HN?L
    =I>?
    >>

    >CP
    >F
    >N
    ?G
    ?G<?>
    B
    B
    B
    B
    B
    B
    B?;>
    BL
    C
    CGA
    FC

    FCMNCHA
    G?HO
    G?N;
    HI<L
    IF
    J
    JL?
    LO<S
    M
    MG;FF
    MJ;H
    MNLIHA
    MNLCE?

    MO<
    MOJ
    N;<F?
    NN
    O
    OF
    P;L
    X MN;LNN;AQBIM?N;AH;G?CM@IHN
    C@NB?NIE?HB;M;HS;NNLC<ON?MH;G?>=IFIL
    @;=?
    ILMCT?
    X H?H> I@ ]F?NIE?H
    1BSTFFSSPS Q 

    
    1PQFMFNFOUTGSPNUIF TUBDLPGPQFOFMFNFOUT Q VOUJMFJUIFSB NBUI Q FMFNFOUPSBO TWH Q FMFNFOUIBT
    CFFOQPQQFEGSPNUIFTUBDL BOESFQSPDFTTUIFUPLFO

    X HSINB?LMN;LNN;A
    *GUIF DVSSFOUOPEF Q JTBOFMFNFOUJOUIF .BUI.-OBNFTQBDF Q BEKVTU.BUI.-BUUSJCVUFT Q GPSUIFUPLFO
    5IJTИYFTUIFDBTFPG.BUI.-BUUSJCVUFTUIBUBSFOPUBMMMPXFSDBTF

    *GUIF DVSSFOUOPEF Q JTBOFMFNFOUJOUIF 47(OBNFTQBDF Q BOEUIFUPLFOTUBHOBNFJTPOFPGUIFPOFT


    JOUIFИSTUDPMVNOPGUIFGPMMPXJOHUBCMF DIBOHFUIFUBHOBNFUPUIFOBNFHJWFOJOUIFDPSSFTQPOEJOHDFMMJO
    UIFTFDPOEDPMVNO 5IJTИYFTUIFDBTFPG47(FMFNFOUTUIBUBSFOPUBMMMPXFSDBTF

    0;AH;G? !F?G?HNH;G?

    BMUHMZQI BMU(MZQI
    BMUHMZQIEFG BMU(MZQI%FG
    BMUHMZQIJUFN BMU(MZQI*UFN
    BOJNBUFDPMPS BOJNBUF$PMPS
    BOJNBUFNPUJPO BOJNBUF.PUJPO
    BOJNBUFUSBOTGPSN BOJNBUF5SBOTGPSN
    DMJQQBUI DMJQ1BUI
    GFCMFOE GF#MFOE
    GFDPMPSNBUSJY GF$PMPS.BUSJY
    GFDPNQPOFOUUSBOTGFS GF$PNQPOFOU5SBOTGFS
    GFDPNQPTJUF GF$PNQPTJUF
    GFDPOWPMWFNBUSJY GF$POWPMWF.BUSJY
    GFEJGGVTFMJHIUJOH GF%JGGVTF-JHIUJOH
    GFEJTQMBDFNFOUNBQ GF%JTQMBDFNFOU.BQ
    GFEJTUBOUMJHIU GF%JTUBOU-JHIU
    GFGMPPE GF'MPPE
    GFGVODB GF'VOD"
    GFGVODC GF'VOD#
    GFGVODH GF'VOD(
    GFGVODS GF'VOD3
    GFHBVTTJBOCMVS GF(BVTTJBO#MVS
    GFJNBHF GF*NBHF
    GFNFSHF GF.FSHF
    GFNFSHFOPEF GF.FSHF/PEF
    GFNPSQIPMPHZ GF.PSQIPMPHZ
    GFPGGTFU GF0GGTFU
    GFQPJOUMJHIU GF1PJOU-JHIU
    GFTQFDVMBSMJHIUJOH GF4QFDVMBS-JHIUJOH
    GFTQPUMJHIU GF4QPU-JHIU
    GFUJMF GF5JMF
    GFUVSCVMFODF GF5VSCVMFODF
    GPSFJHOPCKFDU GPSFJHO0CKFDU
    HMZQISFG HMZQI3FG
    MJOFBSHSBEJFOU MJOFBS(SBEJFOU
    SBEJBMHSBEJFOU SBEJBM(SBEJFOU
    UFYUQBUI UFYU1BUI

    *GUIF DVSSFOUOPEF Q JTBOFMFNFOUJOUIF 47(OBNFTQBDF Q BEKVTU47(BUUSJCVUFT Q GPSUIFUPLFO 5IJT
    ИYFTUIFDBTFPG47(BUUSJCVUFTUIBUBSFOPUBMMMPXFSDBTF

    "EKVTUGPSFJHOBUUSJCVUFT Q GPSUIFUPLFO 5IJTИYFTUIFVTFPGOBNFTQBDFEBUUSJCVUFT JOQBSUJDVMBS9-JOLJO


    47(

    *OTFSUBGPSFJHOFMFNFOU Q GPSUIFUPLFO JOUIFTBNFOBNFTQBDFBTUIF DVSSFOUOPEF Q 

    *GUIFUPLFOIBTJUT B4;52;>B8=6Q06 TFU QPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFOFMFNFOUT Q BOE
    BDLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q 

    
        0B?;@N?L<I>SCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTBGUFSCPEZ Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIFИSTUFMFNFOUJOUIF TUBDLPGPQFOFMFNFOUT Q UIF IUNM Q FMFNFOU
    XJUI
    UIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIFDPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X H?H>N;AQBIM?N;AH;G?CMBNGF
    *GUIFQBSTFSXBTPSJHJOBMMZDSFBUFEBTQBSUPGUIF )5.-GSBHNFOUQBSTJOHBMHPSJUIN Q UIJTJTB QBSTF
    FSSPS Q JHOPSFUIFUPLFO GSBHNFOUDBTF Q

    0UIFSXJTF TXJUDIUIF JOTFSUJPONPEF Q UPBGUFSBGUFSCPEZ Q 

    X H?H> I@ ]F?NIE?H
    4UPQQBSTJOH Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 4XJUDIUIF JOTFSUJPONPEF Q UPJOCPEZ Q BOESFQSPDFTTUIFUPLFO

        0B?CH@L;G?M?NCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTJOGSBNFTFU Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    *OTFSUUIFDIBSBDUFS Q JOUPUIF DVSSFOUOPEF Q 

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF DVSSFOUOPEF Q XJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X MN;LNN;AQBIM?N;AH;G?CM@L;G?M?N
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO

    X H?H>N;AQBIM?N;AH;G?CM@L;G?M?N
    *GUIF DVSSFOUOPEF Q JTUIFSPPU IUNM Q FMFNFOU UIFOUIJTJTB QBSTFFSSPS Q JHOPSFUIFUPLFO GSBHNFOU
    DBTF Q

    0UIFSXJTF QPQUIF DVSSFOUOPEF Q GSPNUIF TUBDLPGPQFOFMFNFOUT Q 

    *GUIFQBSTFSXBT =>C PSJHJOBMMZDSFBUFEBTQBSUPGUIF )5.-GSBHNFOUQBSTJOHBMHPSJUIN Q GSBHNFOU


    DBTF Q
    BOEUIF DVSSFOUOPEF Q JTOPMPOHFSB GSBNFTFU Q FMFNFOU UIFOTXJUDIUIF JOTFSUJPONPEF Q UP
    BGUFSGSBNFTFU Q 

    X MN;LNN;AQBIM?N;AH;G?CM@L;G?
    *OTFSUBO)5.-FMFNFOU Q GPSUIFUPLFO*NNFEJBUFMZQPQUIF DVSSFOUOPEF Q PЗUIF TUBDLPGPQFO
    FMFNFOUT Q 

    "DLOPXMFEHFUIFUPLFOT B4;52;>B8=6Q06 Q JGJUJTTFU

    
    X MN;LNN;AQBIM?N;AH;G?CMHI@L;G?M
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOIFBE Q  JOTFSUJPONPEF Q 

    X H?H> I@ ]F?NIE?H
    *GUIF DVSSFOUOPEF Q JTOPUUIFSPPU IUNM Q FMFNFOU UIFOUIJTJTB QBSTFFSSPS Q 

    *HM> %M<:GHGER;>MA> <NKK>GMGH=> I BGMA> ?K:@F>GM<:L> I

    4UPQQBSTJOH Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q *HOPSFUIFUPLFO

        0B?;@N?L@L;G?M?NCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTBGUFSGSBNFTFU Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    *OTFSUUIFDIBSBDUFS Q JOUPUIF DVSSFOUOPEF Q 

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF DVSSFOUOPEF Q XJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    1BSTFFSSPS Q *HOPSFUIFUPLFO

    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X H?H>N;AQBIM?N;AH;G?CMBNGF
    4XJUDIUIF JOTFSUJPONPEF Q UPBGUFSBGUFSGSBNFTFU Q 

    X MN;LNN;AQBIM?N;AH;G?CMHI@L;G?M
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOIFBE Q  JOTFSUJPONPEF Q 

    X H?H> I@ ]F?NIE?H
    4UPQQBSTJOH Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q *HOPSFUIFUPLFO

        0B?;@N?L;@N?L<I>SCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTBGUFSBGUFSCPEZ Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF %PDVNFOU Q PCKFDUXJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X H?H> I@ ]F?NIE?H
    4UPQQBSTJOH Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q 4XJUDIUIF JOTFSUJPONPEF Q UPJOCPEZ Q BOESFQSPDFTTUIFUPLFO

    
        0B?;@N?L;@N?L@L;G?M?NCHM?LNCIHGI>?

    8IFOUIF JOTFSUJPONPEF Q JTBGUFSBGUFSGSBNFTFU Q  UPLFOTNVTUCFIBOEMFEBTGPMMPXT

    X =IGG?HNNIE?H
    "QQFOEB $PNNFOU Q OPEFUPUIF %PDVNFOU Q PCKFDUXJUIUIF EBUB BUUSJCVUFTFUUPUIFEBUBHJWFOJOUIF
    DPNNFOUUPLFO

    X  +05,!NIE?H
    X =B;L;=N?LNIE?HNB;NCMIH?I@1 $.0!.01(0%+*
    1 (%*!"!! ("
    1 
    "+.)"!! ""
    1  ..%#!.!01.*.
    IL1 /,!
    X MN;LNN;AQBIM?N;AH;G?CMBNGF
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOCPEZ Q  JOTFSUJPONPEF Q 

    X H?H> I@ ]F?NIE?H
    4UPQQBSTJOH Q 

    X MN;LNN;AQBIM?N;AH;G?CMHI@L;G?M
    1SPDFTTUIFUPLFO VTJOHUIFSVMFTGPS Q UIFJOIFBE Q  JOTFSUJPONPEF Q 

    X HSNBCHA?FM?
    1BSTFFSSPS Q *HOPSFUIFUPLFO

       0B??H>

    0ODFUIFVTFSBHFOU MNIJMJ;LMCHA UIFEPDVNFOU UIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     4FUUIF DVSSFOUEPDVNFOUSFBEJOFTT Q UPJOUFSBDUJWFBOEUIF JOTFSUJPOQPJOU Q UPVOEFИOFE

     1PQ 0;; UIFOPEFTPЗUIF TUBDLPGPQFOFMFNFOUT Q 

     *GUIF MJTUPGTDSJQUTUIBUXJMMFYFDVUFXIFOUIFEPDVNFOUIBTИOJTIFEQBSTJOH Q JTOPUFNQUZ SVOUIFTF


    TVCTUFQT

     4QJOUIFFWFOUMPPQ Q VOUJMUIFИSTU TDSJQU Q JOUIF MJTUPGTDSJQUTUIBUXJMMFYFDVUFXIFOUIF


    EPDVNFOUIBTИOJTIFEQBSTJOH Q IBTJUT SFBEZUPCFQBSTFSFYFDVUFE Q ЙBHTFU 0=3 UIFSFJTOP
    TUZMFTIFFUCMPDLJOHTDSJQUT Q 

     &YFDVUF Q UIFИSTU TDSJQU Q JOUIF MJTUPGTDSJQUTUIBUXJMMFYFDVUFXIFOUIFEPDVNFOUIBT


    ИOJTIFEQBSTJOH Q 

     3FNPWFUIFИSTU TDSJQU Q FMFNFOUGSPNUIF MJTUPGTDSJQUTUIBUXJMMFYFDVUFXIFOUIFEPDVNFOU


    IBTИOJTIFEQBSTJOH Q JFTIJGUPVUUIFИSTUFOUSZJOUIFMJTU
    

     *GUIF MJTUPGTDSJQUTUIBUXJMMFYFDVUFXIFOUIFEPDVNFOUIBTИOJTIFEQBSTJOH Q JTTUJMMOPUFNQUZ


    SFQFBUUIFTFTVCTUFQTBHBJOGSPNTVCTUFQ

     2VFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE %0.$POUFOU-PBEFE BUUIF %PDVNFOU Q 

     4QJOUIFFWFOUMPPQ Q VOUJMUIF TFUPGTDSJQUTUIBUXJMMFYFDVUFBTTPPOBTQPTTJCMF Q JTFNQUZ

     4QJOUIFFWFOUMPPQ Q VOUJMUIFSFJTOPUIJOHUIBU >?F;SMNB?FI;>?P?HN JOUIF %PDVNFOU Q 

     2VFVFBUBTL Q UPTFUUIF DVSSFOUEPDVNFOUSFBEJOFTT Q UPDPNQMFUF

     *GUIF %PDVNFOU Q JTJOB CSPXTJOHDPOUFYU Q UIFO RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BU
    UIF %PDVNFOU Q T 8JOEPX Q PCKFDU CVUXJUIJUT UBSHFU Q TFUUPUIF %PDVNFOU Q PCKFDU BOEUIF
    DVSSFOU5BSHFU TFUUPUIF 8JOEPX Q PCKFDU
    

     *GUIF %PDVNFOU Q JTJOB CSPXTJOHDPOUFYU Q UIFO RVFVFBUBTL Q UPИSFB QBHFTIPX Q FWFOUBUUIF
    8JOEPX Q PCKFDUPGUIF %PDVNFOU Q CVUXJUIJUT UBSHFU Q TFUUPUIF %PDVNFOU Q PCKFDU BOEUIF
    DVSSFOU5BSHFU TFUUPUIF 8JOEPX Q PCKFDU
    VTJOHUIF 1BHF5SBOTJUJPO&WFOU Q JOUFSGBDF XJUIUIF
    QFSTJTUFE Q BUUSJCVUFTFUUPGBMTF5IJTFWFOUNVTUOPUCVCCMF NVTUOPUCFDBODFMBCMF BOEIBTOPEFGBVMU
    BDUJPO

     *GUIF %PDVNFOU Q IBTB QFOEJOHTUBUFPCKFDU Q UIFO RVFVFBUBTL Q UPИSFB QPQTUBUF Q FWFOUBUUIF
    %PDVNFOU Q T 8JOEPX Q PCKFDUVTJOHUIF 1PQ4UBUF&WFOU Q JOUFSGBDF XJUIUIF TUBUF Q BUUSJCVUFTFUUPUIF

    
    DVSSFOUWBMVFPGUIF QFOEJOHTUBUFPCKFDU Q 5IJTFWFOUNVTUCVCCMFCVUOPUCFDBODFMBCMFBOEIBTOP
    EFGBVMUBDUJPO

     *GUIF %PDVNFOU Q IBTBOZ QFOEJOHBQQMJDBUJPODBDIFEPXOMPBEQSPDFTTUBTLT Q UIFO RVFVF Q FBDITVDI
    UBTL Q JOUIFPSEFSUIFZXFSFBEEFEUPUIFMJTUPG QFOEJOHBQQMJDBUJPODBDIFEPXOMPBEQSPDFTTUBTLT Q
    BOEUIFOFNQUZUIFMJTUPG QFOEJOHBQQMJDBUJPODBDIFEPXOMPBEQSPDFTTUBTLT Q 5IF UBTLTPVSDF Q GPS
    UIFTF UBTLT Q JTUIF OFUXPSLJOHUBTLTPVSDF Q 

     5IF %PDVNFOU Q JTOPX =IGJF?N?FSFI;>?>

    8IFOUIFVTFSBHFOUJTUP ;<ILN;H$0)(J;LM?L JUNVTUSVOUIFGPMMPXJOHTUFQT

     5ISPXBXBZBOZQFOEJOHDPOUFOUJOUIF JOQVUTUSFBN Q BOEEJTDBSEBOZGVUVSFDPOUFOUUIBUXPVMEIBWF


    CFFOBEEFEUPJU

     1PQ 0;; UIFOPEFTPЗUIF TUBDLPGPQFOFMFNFOUT Q 

    &YDFQUXIFSFPUIFSXJTFTQFDJИFE UIF UBTLTPVSDF Q GPSUIF UBTLT Q NFOUJPOFEJOUIJTTFDUJPOJTUIF %0.


    NBOJQVMBUJPOUBTLTPVSDF Q 

       I?L=CHA;H$0)( +)CHNI;HCH@IM?N

    8IFOBOBQQMJDBUJPOVTFTBO )5.-QBSTFS Q JODPOKVODUJPOXJUIBO9.-QJQFMJOF JUJTQPTTJCMFUIBUUIFDPOTUSVDUFE


    %0.JTOPUDPNQBUJCMFXJUIUIF9.-UPPMDIBJOJODFSUBJOTVCUMFXBZT'PSFYBNQMF BO9.-UPPMDIBJONJHIUOPUCF
    BCMFUPSFQSFTFOUBUUSJCVUFTXJUIUIFOBNF YNMOT TJODFUIFZDPOЙJDUXJUIUIF/BNFTQBDFTJO9.-TZOUBY5IFSFJTBMTP
    TPNFEBUBUIBUUIF )5.-QBSTFS Q HFOFSBUFTUIBUJTOUJODMVEFEJOUIF%0.JUTFMG5IJTTFDUJPOTQFDJИFTTPNFSVMFT
    GPSIBOEMJOHUIFTFJTTVFT

    *GUIF9.-"1*CFJOHVTFEEPFTOUTVQQPSU%0$5:1&T UIFUPPMNBZESPQ%0$5:1&TBMUPHFUIFS

    *GUIF9.-"1*EPFTOUTVQQPSUBUUSJCVUFTJOOPOBNFTQBDFUIBUBSFOBNFEYNMOT BUUSJCVUFTXIPTFOBNFTTUBSUXJUI
    YNMOT PSBUUSJCVUFTJOUIF 9.-/4OBNFTQBDF Q UIFOUIFUPPMNBZESPQTVDIBUUSJCVUFT

    5IFUPPMNBZBOOPUBUFUIFPVUQVUXJUIBOZOBNFTQBDFEFDMBSBUJPOTSFRVJSFEGPSQSPQFSPQFSBUJPO

    *GUIF9.-"1*CFJOHVTFESFTUSJDUTUIFBMMPXBCMFDIBSBDUFSTJOUIFMPDBMOBNFTPGFMFNFOUTBOEBUUSJCVUFT UIFOUIF
    UPPMNBZNBQBMMFMFNFOUBOEBUUSJCVUFMPDBMOBNFTUIBUUIF"1*XPVMEOUTVQQPSUUPBTFUPGOBNFTUIBU 0A4 BMMPXFE
    CZSFQMBDJOHBOZDIBSBDUFSUIBUJTOUTVQQPSUFEXJUIUIFVQQFSDBTFMFUUFS6BOEUIFTJYEJHJUTPGUIFDIBSBDUFST
    6OJDPEFDPEFQPJOUXIFOFYQSFTTFEJOIFYBEFDJNBM VTJOHEJHJUTBOEDBQJUBMMFUUFST"'BTUIFTZNCPMT JO
    JODSFBTJOHOVNFSJDPSEFS

    'PSFYBNQMF UIFFMFNFOUOBNF GPPCBS XIJDIDBOCFPVUQVUCZUIF )5.-QBSTFS Q UIPVHIJUJTOFJUIFSB


    MFHBM)5.-FMFNFOUOBNFOPSBXFMMGPSNFE9.-FMFNFOUOBNF XPVMECFDPOWFSUFEJOUP GPP6$CBS
    XIJDI 8B BXFMMGPSNFE9.-FMFNFOUOBNF UIPVHIJUTTUJMMOPUMFHBMJO)5.-CZBOZNFBOT
    

    "TBOPUIFSFYBNQMF DPOTJEFSUIFBUUSJCVUF YMJOLISFG6TFEPOB.BUI.-FMFNFOU JUCFDPNFT BGUFSCFJOH


    BEKVTUFE Q BOBUUSJCVUFXJUIBQSFИYYMJOLBOEBMPDBMOBNFISFG)PXFWFS VTFEPOBO)5.-FMFNFOU JU
    CFDPNFTBOBUUSJCVUFXJUIOPQSFИYBOEUIFMPDBMOBNFYMJOLISFG XIJDIJTOPUBWBMJE/$/BNF BOEUIVT
    NJHIUOPUCFBDDFQUFECZBO9.-"1**UDPVMEUIVTHFUDPOWFSUFE CFDPNJOHYMJOL6"ISFG

    *HM> 0A>K>LNEMBG@G:F>L?KHFMABL<HGO>KLBHG<HGO>GB>GMER<:GM<E:LAPBMA:GR:MMKB;NM>
    @>G>K:M>=;RMA> $0)(I:KL>K I LBG<>MAHL>:K>:EE>BMA>KEHP>K<:L>HKMAHL>EBLM>=BGMA>
    :=CNLM?HK>B@G:MMKB;NM>L I :E@HKBMAFLM:;E>

    *GUIF9.-"1*SFTUSJDUTDPNNFOUTGSPNIBWJOHUXPDPOTFDVUJWF6 %):1)&/.*/64DIBSBDUFST 
    UIFUPPMNBZ
    JOTFSUBTJOHMF6 41"$&DIBSBDUFSCFUXFFOBOZTVDIPЗFOEJOHDIBSBDUFST

    *GUIF9.-"1*SFTUSJDUTDPNNFOUTGSPNFOEJOHJOB6 %):1)&/.*/64DIBSBDUFS 
    UIFUPPMNBZJOTFSUBTJOHMF
    6 41"$&DIBSBDUFSBUUIFFOEPGTVDIDPNNFOUT

    *GUIF9.-"1*SFTUSJDUTBMMPXFEDIBSBDUFSTJODIBSBDUFSEBUB BUUSJCVUFWBMVFT PSDPNNFOUT UIFUPPMNBZSFQMBDFBOZ


    6 $'03.'&&% ''
    DIBSBDUFSXJUIB6 41"$&DIBSBDUFS BOEBOZPUIFSMJUFSBMOPO9.-DIBSBDUFSXJUIB
    6 '''%3&1-"$&.&/5$)"3"$5&3

    *GUIFUPPMIBTOPXBZUPDPOWFZPVUPGCBOEJOGPSNBUJPO UIFOUIFUPPMNBZESPQUIFGPMMPXJOHJOGPSNBUJPO

    Ǭ 8IFUIFSUIFEPDVNFOUJTTFUUP =>@D8A:B<>34 ? ;8<8C43@D8A:B<>34 ? PS @D8A:B<>34 ?

    
    Ǭ 5IFBTTPDJBUJPOCFUXFFOGPSNDPOUSPMTBOEGPSNTUIBUBSFOUUIFJSOFBSFTU GPSN Q FMFNFOUBODFTUPS VTFPG
    UIF GPSN FMFNFOUQPJOUFS Q JOUIFQBSTFS

    *HM> 0A>FNM:MBHGL:EEHP>=;RMABLL><MBHG:IIER :?M>K MA> $0)(I:KL>K I LKNE>LA:O>;>>G


    :IIEB>= "HK>Q:FIE> : : LM:KMM:@PBEE;><EHL>=;R: : >G=M:@ :G=G>O>K;R:
    :3 3  >G=M:@ >O>GB?MA>NL>K:@>GMBLNLBG@MA>KNE>L:;HO>MHMA>G@>G>K:M>:G
    :<MN:E>E>F>GMBGMA> +)PBMAMA>G:F> :3 3 ?HKMA:MLM:KMM:@

       HCHNLI>O=NCIHNI?LLILB;H>FCHA;H>MNL;HA?=;M?MCHNB?J;LM?L

    *78BB42C8>=8B=>==>A<0C8E4

    5IJTTFDUJPOFYBNJOFTTPNFFSSPOFPVTNBSLVQBOEEJTDVTTFTIPXUIF )5.-QBSTFS Q IBOEMFTUIFTFDBTFT

        )CMH?MN?>N;AM<C < C

    *78BB42C8>=8B=>==>A<0C8E4

    5IFNPTUPGUFOEJTDVTTFEFYBNQMFPGFSSPOFPVTNBSLVQJTBTGPMMPXT

    QCJCJQ

    5IFQBSTJOHPGUIJTNBSLVQJTTUSBJHIUGPSXBSEVQUPUIF"UUIJTQPJOU UIF%0.MPPLTMJLFUIJT

    COHG K
    C@<? K
    =J?T K
    K K
    O@SO 
    = K
    O@SO 
    D K
    O@SO

    )FSF UIF TUBDLPGPQFOFMFNFOUT Q IBTИWFFMFNFOUTPOJU IUNM Q CPEZ Q Q Q C Q BOE J Q 5IF MJTUPGBDUJWF
    GPSNBUUJOHFMFNFOUT Q KVTUIBTUXP C Q BOE J Q 5IF JOTFSUJPONPEF Q JTJOCPEZ Q 

    6QPOSFDFJWJOHUIFFOEUBHUPLFOXJUIUIFUBHOBNFC UIFBEPQUJPOBHFODZBMHPSJUIN Q JTJOWPLFE5IJTJTB


    TJNQMFDBTF JOUIBUUIF 5>A<0CC8=64;4<4=C JTUIF C Q FMFNFOU BOEUIFSFJTOP 5DAC74BC1;>2:5IVT UIF TUBDLPGPQFO
    FMFNFOUT Q FOETVQXJUIKVTUUISFFFMFNFOUT IUNM Q CPEZ Q BOE Q Q XIJMFUIF MJTUPGBDUJWFGPSNBUUJOH
    FMFNFOUT Q IBTKVTUPOF J Q 5IF%0.USFFJTVONPEJИFEBUUIJTQPJOU

    5IFOFYUUPLFOJTBDIBSBDUFS 
    USJHHFSTUIF SFDPOTUSVDUJPOPGUIFBDUJWFGPSNBUUJOHFMFNFOUT Q JOUIJTDBTFKVTU
    UIF J Q FMFNFOU"OFX J Q FMFNFOUJTUIVTDSFBUFEGPSUIFUFYUOPEF"GUFSUIFFOEUBHUPLFOGPSUIFJJTBMTP
    SFDFJWFE BOEUIFUFYUOPEFJTJOTFSUFE UIF%0.MPPLTBTGPMMPXT

    COHG K
    C@<? K
    =J?T K
    K K
    O@SO 
    = K
    O@SO 
    D K
    O@SO
    D K
    O@SO

    O@SO

        )CMH?MN?>N;AM<J < J

    *78BB42C8>=8B=>==>A<0C8E4

    "DBTFTJNJMBSUPUIFQSFWJPVTPOFJTUIFGPMMPXJOH

    CQCQ

    
    6QUPUIFUIFQBSTJOHIFSFJTTUSBJHIUGPSXBSE

    COHG K
    C@<? K
    =J?T K
    = K
    O@SO 
    K K
    O@SO 

    5IFJOUFSFTUJOHQBSUJTXIFOUIFFOEUBHUPLFOXJUIUIFUBHOBNFCJTQBSTFE

    #FGPSFUIBUUPLFOJTTFFO UIF TUBDLPGPQFOFMFNFOUT Q IBTGPVSFMFNFOUTPOJU IUNM Q CPEZ Q C Q BOE Q Q 
    5IF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q KVTUIBTUIFPOF C Q 5IF JOTFSUJPONPEF Q JTJOCPEZ Q 

    6QPOSFDFJWJOHUIFFOEUBHUPLFOXJUIUIFUBHOBNFC UIFBEPQUJPOBHFODZBMHPSJUIN Q JTJOWPLFE BTJOUIF


    QSFWJPVTFYBNQMF)PXFWFS JOUIJTDBTF UIFSF 8B B 5DAC74BC1;>2: OBNFMZUIF Q Q FMFNFOU5IVT UIJTUJNFUIF
    BEPQUJPOBHFODZBMHPSJUINJTOUTLJQQFEPWFS

    5IF 2><<>=0=24BC>A JTUIF CPEZ Q FMFNFOU"DPODFQUVBMCPPLNBSLNBSLTUIFQPTJUJPOPGUIF C Q JOUIF MJTUPG


    BDUJWFGPSNBUUJOHFMFNFOUT Q CVUTJODFUIBUMJTUIBTPOMZPOFFMFNFOUJOJU JUXPOUIBWFNVDIFЗFDU

    "TUIFBMHPSJUINQSPHSFTTFT =>34 FOETVQTFUUPUIFGPSNBUUJOHFMFNFOU C Q


    BOE ;0BC=>34 FOETVQTFUUPUIF
    5DAC74BC1;>2: Q Q
    

    5IF ;0BC=>34 HFUTBQQFOEFE NPWFE


    UPUIF 2><<>=0=24BC>A TPUIBUUIF%0.MPPLTMJLF

    COHG K
    C@<? K
    =J?T K
    = K
    O@SO 
    K K
    O@SO 

    "OFX C Q FMFNFOUJTDSFBUFE BOEUIFDIJMESFOPGUIF Q Q FMFNFOUBSFNPWFEUPJU

    COHG K
    C@<? K
    =J?T K
    = K
    O@SO 
    K K
    = K
    O@SO 

    'JOBMMZ UIFOFX C Q FMFNFOUJTBQQFOEFEUPUIF Q Q FMFNFOU TPUIBUUIF%0.MPPLTMJLF

    COHG K
    C@<? K
    =J?T K
    = K
    O@SO 
    K K
    = K
    O@SO 

    5IF C Q FMFNFOUJTSFNPWFEGSPNUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q BOEUIF TUBDLPGPQFOFMFNFOUT Q TP


    UIBUXIFOUIFJTQBSTFE JUJTBQQFOEFEUPUIF Q Q FMFNFOU

    COHG K
    C@<? K
    =J?T K
    = K
    O@SO 
    K K
    = K
    O@SO 

    
    O@SO

        1H?RJ?=N?>G;LEOJCHN;<F?M

    *78BB42C8>=8B=>==>A<0C8E4

    &SSPSIBOEMJOHJOUBCMFTJT GPSIJTUPSJDBMSFBTPOT FTQFDJBMMZTUSBOHF'PSFYBNQMF DPOTJEFSUIFGPMMPXJOHNBSLVQ

    UBCMF=USUEBBBUEUS===UBCMFDDD

    5IFIJHIMJHIUFE C Q FMFNFOUTUBSUUBHJTOPUBMMPXFEEJSFDUMZJOTJEFBUBCMFMJLFUIBU BOEUIFQBSTFSIBOEMFTUIJTDBTF


    CZQMBDJOHUIFFMFNFOU 145>A4 UIFUBCMF 5IJTJTDBMMFE 5>BC4A?0A4=C8=6 ?  
    5IJTDBOCFTFFOCZFYBNJOJOHUIF%0.
    USFFBTJUTUBOETKVTUBGUFSUIF UBCMF Q FMFNFOUTTUBSUUBHIBTCFFOTFFO

    COHG K
    C@<? K
    =J?T K
    O<=G@ K

    BOEUIFOJNNFEJBUFMZBGUFSUIF C Q FMFNFOUTUBSUUBHIBTCFFOTFFO

    COHG K
    C@<? K
    =J?T K
    = K
    O<=G@ K

    "UUIJTQPJOU UIF TUBDLPGPQFOFMFNFOUT Q IBTPOJUUIFFMFNFOUT IUNM Q CPEZ Q UBCMF Q BOE C Q JOUIBU
    PSEFS EFTQJUFUIFSFTVMUJOH%0.USFF
    UIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q KVTUIBTUIF C Q FMFNFOUJOJUBOE
    UIF JOTFSUJPONPEF Q JTJOUBCMF Q 

    5IF US Q TUBSUUBHDBVTFTUIF C Q FMFNFOUUPCFQPQQFEPЗUIFTUBDLBOEB UCPEZ Q TUBSUUBHUPCFJNQMJFEUIF


    UCPEZ Q BOE US Q FMFNFOUTBSFUIFOIBOEMFEJOBSBUIFSTUSBJHIUGPSXBSENBOOFS UBLJOHUIFQBSTFSUISPVHIUIFJO
    UBCMFCPEZ Q BOEJOSPX Q JOTFSUJPONPEFT BGUFSXIJDIUIF%0.MPPLTBTGPMMPXT

    COHG K
    C@<? K
    =J?T K
    = K
    O<=G@ K
    O=J?T K
    OM K

    )FSF UIF TUBDLPGPQFOFMFNFOUT Q IBTPOJUUIFFMFNFOUT IUNM Q CPEZ Q UBCMF Q UCPEZ Q BOE US Q UIF MJTU
    PGBDUJWFGPSNBUUJOHFMFNFOUT Q TUJMMIBTUIF C Q FMFNFOUJOJUBOEUIF JOTFSUJPONPEF Q JTJOSPX Q 

    5IF UE Q FMFNFOUTUBSUUBHUPLFO BGUFSQVUUJOHB UE Q FMFNFOUPOUIFUSFF QVUTBNBSLFSPOUIF MJTUPGBDUJWF


    GPSNBUUJOHFMFNFOUT Q JUBMTPTXJUDIFTUPUIFJODFMM Q  JOTFSUJPONPEF Q
    

    COHG K
    C@<? K
    =J?T K
    = K
    O<=G@ K
    O=J?T K
    OM K
    O? K

    5IFNBSLFSNFBOTUIBUXIFOUIFBBBDIBSBDUFSUPLFOTBSFTFFO OP C Q FMFNFOUJTDSFBUFEUPIPMEUIFSFTVMUJOH


    UFYUOPEF

    COHG K
    C@<? K
    =J?T K
    = K
    O<=G@ K
    O=J?T K

    
    OM K
    O? K
    O@SO 

    5IFFOEUBHTBSFIBOEMFEJOBTUSBJHIUGPSXBSENBOOFSBGUFSIBOEMJOHUIFN UIF TUBDLPGPQFOFMFNFOUT Q IBTPOJU


    UIFFMFNFOUT IUNM Q CPEZ Q UBCMF Q BOE UCPEZ Q UIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q TUJMMIBTUIF C Q
    FMFNFOUJOJU UIFNBSLFSIBWJOHCFFOSFNPWFECZUIFUEFOEUBHUPLFO
    BOEUIF JOTFSUJPONPEF Q JTJOUBCMF
    CPEZ Q 

    5IVTJUJTUIBUUIFCCCDIBSBDUFSUPLFOTBSFGPVOE5IFTFUSJHHFSUIFJOUBCMFUFYU Q JOTFSUJPONPEFUPCFVTFE


    XJUIUIF PSJHJOBMJOTFSUJPONPEF Q TFUUPJOUBCMFCPEZ Q 
    5IFDIBSBDUFSUPLFOTBSFDPMMFDUFE BOEXIFOUIFOFYU
    UPLFO UIF UBCMF Q FMFNFOUFOEUBH
    JTTFFO UIFZBSFQSPDFTTFEBTBHSPVQ4JODFUIFZBSFOPUBMMTQBDFT UIFZBSF
    IBOEMFEBTQFSUIFBOZUIJOHFMTFSVMFTJOUIFJOUBCMF Q JOTFSUJPONPEF XIJDIEFGFSUPUIFJOCPEZ Q JOTFSUJPO
    NPEFCVUXJUI GPTUFSQBSFOUJOH Q 

    8IFO UIFBDUJWFGPSNBUUJOHFMFNFOUTBSFSFDPOTUSVDUFE Q B C Q FMFNFOUJTDSFBUFEBOE GPTUFSQBSFOUFE Q BOE


    UIFOUIFCCCUFYUOPEFJTBQQFOEFEUPJU

    COHG K
    C@<? K
    =J?T K
    = K
    = K
    O@SO 
    O<=G@ K
    O=J?T K
    OM K
    O? K
    O@SO 

    5IF TUBDLPGPQFOFMFNFOUT Q IBTPOJUUIFFMFNFOUT IUNM Q CPEZ Q UBCMF Q UCPEZ Q BOEUIFOFX C Q
    BHBJO OPUFUIBUUIJTEPFTOUNBUDIUIFSFTVMUJOHUSFF
    UIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q IBTUIFOFX C Q
    FMFNFOUJOJUBOEUIF JOTFSUJPONPEF Q JTTUJMMJOUBCMFCPEZ Q 

    )BEUIFDIBSBDUFSUPLFOTCFFOPOMZ TQBDFDIBSBDUFST Q JOTUFBEPGCCC UIFOUIPTF TQBDFDIBSBDUFST Q XPVMEKVTUCF


    BQQFOEFEUPUIF UCPEZ Q FMFNFOU

    'JOBMMZ UIF UBCMF Q JTDMPTFECZBUBCMFFOEUBH5IJTQPQTBMMUIFOPEFTGSPNUIF TUBDLPGPQFOFMFNFOUT Q VQUP


    BOEJODMVEJOHUIF UBCMF Q FMFNFOU CVUJUEPFTOUBЗFDUUIF MJTUPGBDUJWFGPSNBUUJOHFMFNFOUT Q TPUIFDDD
    DIBSBDUFSUPLFOTBGUFSUIFUBCMFSFTVMUJOZFUBOPUIFS C Q FMFNFOUCFJOHDSFBUFE UIJTUJNFBGUFSUIFUBCMF

    COHG K
    C@<? K
    =J?T K
    = K
    = K
    O@SO 
    O<=G@ K
    O=J?T K
    OM K
    O? K
    O@SO 
    = K
    O@SO 

        /=LCJNMNB;NGI>C@SNB?J;A?;MCNCM<?CHAJ;LM?>

    *78BB42C8>=8B=>==>A<0C8E4

    $POTJEFSUIFGPMMPXJOHNBSLVQ XIJDIGPSUIJTFYBNQMFXFXJMMBTTVNFJTUIFEPDVNFOUXJUI 63- Q


    IUUQFYBNQMFDPNJOOFS CFJOHSFOEFSFEBTUIFDPOUFOUPGBO JGSBNF Q JOBOPUIFSEPDVNFOUXJUIUIF 63- Q
    IUUQFYBNQMFDPNPVUFS

    EJWJEB
    TDSJQU
    WBSEJWEPDVNFOUHFU&MFNFOU#Z*E B
    

    
    QBSFOUEPDVNFOUCPEZBQQFOE$IJME EJW
    
    TDSJQU
    TDSJQU
    BMFSU EPDVNFOU63-
    
    TDSJQU
    EJW
    TDSJQU
    BMFSU EPDVNFOU63-
    
    TDSJQU

    6QUPUIFИSTUTDSJQUFOEUBH CFGPSFUIFTDSJQUJTQBSTFE UIFSFTVMUJTSFMBUJWFMZTUSBJHIUGPSXBSE

    COHG K
    C@<? K
    =J?T K
    ?DQ K D?B Q 
    O@SO
    N>MDKO K
    O@SO +'!+ %*#$))"#$)- &'$)%*#$)%-&&$ !"!+

    "GUFSUIFTDSJQUJTQBSTFE UIPVHI UIF EJW Q FMFNFOUBOEJUTDIJME TDSJQU Q FMFNFOUBSFHPOF

    COHG K
    C@<? K
    =J?T K

    5IFZBSF BUUIJTQPJOU JOUIF %PDVNFOU Q PGUIFBGPSFNFOUJPOFEPVUFS CSPXTJOHDPOUFYU Q )PXFWFS UIF TUBDLPG
    PQFOFMFNFOUT Q BC8;;2>=C08=BC74 ". ( 4;4<4=C

    5IVT XIFOUIFTFDPOE TDSJQU Q FMFNFOUJTQBSTFE JUJTJOTFSUFE 8=C>C74>DC4A '-%&, ( >1942C

    5IJTBMTPNFBOTUIBUUIF TDSJQUTHMPCBMPCKFDU Q JTUIFPVUFS CSPXTJOHDPOUFYU Q T 8JOEPX Q PCKFDU =>C UIF
    8JOEPX Q PCKFDUJOTJEFUIF JGSBNF Q 

    *HM> 0ABLBLGM:L><NKBMRIKH;E>FLBG<>MA>L<KBIMMA:MFHO>LMA> =BO I BGMHMA>HNM>K #H<NF>GM I


    <:GHGER=HLH;><:NL>MA>MPH #H<NF>GM I H;C><MA:O>MA>L:F> HKB@BG I

    5IVT UIFИSTUBMFSUTBZTIUUQFYBNQMFDPNPVUFS

    0ODFUIF EJW Q FMFNFOUTFOEUBHJTQBSTFE UIF EJW Q FMFNFOUJTQPQQFEPЗUIFTUBDL BOETPUIFOFYU TDSJQU Q
    FMFNFOUJTJOUIFJOOFS %PDVNFOU Q 

    COHG K
    C@<? K
    =J?T K
    N>MDKO K
    O@SO "')%*#$)

    5IJTTFDPOEBMFSUXJMMTBZIUUQFYBNQMFDPNJOOFS

      /?LC;FCTCHA$0)(@L;AG?HNM

    5IFGPMMPXJOHTUFQTGPSNUIF $0)(@L;AG?HNM?LC;FCT;NCIH;FAILCNBG5IFBMHPSJUINUBLFTBTJOQVUB%0.
    &MFNFOU Q PS %PDVNFOU Q SFGFSSFEUPBT C74=>34 BOEFJUIFSSFUVSOTBTUSJOHPSSBJTFTBOFYDFQUJPO

    *HM> 0ABL:E@HKBMAFL>KB:EBS>LMA> <ABE=K>G H?MA>GH=>;>BG@L>KB:EBS>= GHMMA>GH=>BML>E?

     -FU B CFBTUSJOH BOEJOJUJBMJ[FJUUPUIFFNQUZTUSJOH

     'PSFBDIDIJMEOPEFPG C74=>34 JO USFFPSEFS Q SVOUIFGPMMPXJOHTUFQT

     -FU 2DAA4=C=>34 CFUIFDIJMEOPEFCFJOHQSPDFTTFE

     "QQFOEUIFBQQSPQSJBUFTUSJOHGSPNUIFGPMMPXJOHMJTUUP B

    
    X %@ <NKK>GMGH=> CM;H #G@H@IO
    "QQFOEB6 $-&445)"/4*(/DIBSBDUFSDIBSBDUFS 
    GPMMPXFECZUIFFMFNFOUT
    UBHOBNF 'PSOPEFTDSFBUFECZUIF )5.-QBSTFS Q PS %PDVNFOUDSFBUF&MFNFOU
    UIF
    UBHOBNFXJMMCFMPXFSDBTF

    'PSFBDIBUUSJCVUFUIBUUIFFMFNFOUIBT BQQFOEB6 41"$&DIBSBDUFS UIF


    BUUSJCVUFTOBNF XIJDI GPSBUUSJCVUFTTFUCZUIF )5.-QBSTFS Q PSCZ
    &MFNFOUTFU"UUSJCVUF/PEF
    PS &MFNFOUTFU"UUSJCVUF
    XJMMCFMPXFSDBTF
    B
    6 %&26"-44*(/DIBSBDUFS 
    B6 2605"5*0/."3,DIBSBDUFS 
    UIF
    BUUSJCVUFTWBMVF FTDBQFEBTEFTDSJCFECFMPX Q JO 0CCA81DC4<>34 BOEBTFDPOE
    6 2605"5*0/."3,DIBSBDUFS 
    

    8IJMFUIFFYBDUPSEFSPGBUUSJCVUFTJT6"EFИOFE BOENBZEFQFOEPOGBDUPSTTVDIBTUIF
    PSEFSUIBUUIFBUUSJCVUFTXFSFHJWFOJOUIFPSJHJOBMNBSLVQ UIFTPSUPSEFSNVTUCFTUBCMF
    TVDIUIBUDPOTFDVUJWFJOWPDBUJPOTPGUIJTBMHPSJUINTFSJBMJ[FBOFMFNFOUTBUUSJCVUFTJO
    UIFTBNFPSEFS

    "QQFOEB6 &(3&"5&35)"/4*(/DIBSBDUFS 
    

    *G 2DAA4=C=>34 JTBO BSFB Q CBTF Q CBTFGPOU Q CHTPVOE Q CS Q DPM Q
    FNCFE Q GSBNF Q IS Q JNH Q JOQVU Q LFZHFO Q MJOL Q NFUB Q QBSBN Q PS
    XCS Q FMFNFOU UIFODPOUJOVFPOUPUIFOFYUDIJMEOPEFBUUIJTQPJOU

    *G 2DAA4=C=>34 JTB QSF Q UFYUBSFB Q PS MJTUJOH Q FMFNFOU BQQFOEB6 "-*/&
    '&&% -'
    DIBSBDUFS

    "QQFOEUIFWBMVFPGSVOOJOHUIF )5.-GSBHNFOUTFSJBMJ[BUJPOBMHPSJUIN Q POUIF 2DAA4=C


    =>34 FMFNFOU UIVTSFDVSTJOHJOUPUIJTBMHPSJUINGPSUIBUFMFNFOU
    GPMMPXFECZB6 $
    -&445)"/4*(/DIBSBDUFS 
    B6 '40-*%64DIBSBDUFS 
    UIFFMFNFOUTUBHOBNF
    BHBJO BOEИOBMMZB6 &(3&"5&35)"/4*(/DIBSBDUFS 
    

    X %@ <NKK>GMGH=> CM; 2@SO IL !"21@>ODJI HI>?


    *GUIFQBSFOUPG 2DAA4=C=>34 JTB TUZMF Q TDSJQU Q YNQ Q JGSBNF Q OPFNCFE Q
    OPGSBNFT Q PS QMBJOUFYU Q FMFNFOU PSJGUIFQBSFOUPG 2DAA4=C=>34 JT OPTDSJQU Q
    FMFNFOUBOE TDSJQUJOHJTFOBCMFE Q GPSUIFOPEF UIFOBQQFOEUIFWBMVFPG 2DAA4=C
    =>34T EBUB *%-BUUSJCVUFMJUFSBMMZ

    0UIFSXJTF BQQFOEUIFWBMVFPG 2DAA4=C=>34T EBUB *%-BUUSJCVUF FTDBQFEBTEFTDSJCFE


    CFMPX Q 

    X %@ <NKK>GMGH=> CM; !JHH@IO


    "QQFOEUIFMJUFSBMTUSJOH  6 $-&445)"/4*(/ 6 &9$-"."5*0/."3,
    6 %):1)&/.*/64 6 %):1)&/.*/64
    GPMMPXFECZUIFWBMVFPG 2DAA4=C
    =>34T EBUB *%-BUUSJCVUF GPMMPXFECZUIFMJUFSBMTUSJOH  6 %):1)&/.*/64
    6 %):1)&/.*/64 6 &(3&"5&35)"/4*(/
    

    X %@ <NKK>GMGH=> CM; .MJ>@NNDIB'INOMP>ODJI


    "QQFOEUIFMJUFSBMTUSJOH  6 $-&445)"/4*(/ 6 '26&45*0/."3,

    GPMMPXFECZUIFWBMVFPG 2DAA4=C=>34T UBSHFU *%-BUUSJCVUF GPMMPXFECZBTJOHMF
    6 41"$&DIBSBDUFS GPMMPXFECZUIFWBMVFPG 2DAA4=C=>34T EBUB *%-BUUSJCVUF
    GPMMPXFECZBTJOHMF6 &(3&"5&35)"/4*(/DIBSBDUFS 
    

    X %@ <NKK>GMGH=> CM; "J>PH@IO2TK@


    "QQFOEUIFMJUFSBMTUSJOH %0$5:1& 6 $-&445)"/4*(/ 6 &9$-"."5*0/
    ."3, 6 -"5*/$"1*5"--&55&3% 6 '-"5*/$"1*5"--&55&30 6 
    -"5*/$"1*5"--&55&3$ 6 -"5*/$"1*5"--&55&35 6 -"5*/$"1*5"-
    -&55&3: 6 -"5*/$"1*5"--&55&31 6 -"5*/$"1*5"--&55&3&
    GPMMPXFE
    CZBTQBDF 6 41"$&
    GPMMPXFECZUIFWBMVFPG 2DAA4=C=>34T OBNF *%-BUUSJCVUF
    GPMMPXFECZUIFMJUFSBMTUSJOH  6 &(3&"5&35)"/4*(/
    

    0UIFSOPEFUZQFT FH "UUS


    DBOOPUPDDVSBTDIJMESFOPGFMFNFOUT*G EFTQJUFUIJT UIFZTPNFIPX
    EPPDDVS UIJTBMHPSJUINNVTUSBJTFBO */7"-*%@45"5&@&33 Q FYDFQUJPO

     5IFSFTVMUPGUIFBMHPSJUINJTUIFTUSJOH B

    !M=;JCHA;MNLCHA GPSUIFQVSQPTFTPGUIFBMHPSJUINBCPWF
    DPOTJTUTPGSFQMBDJOHBOZPDDVSSFODFTPGUIF
    DIBSBDUFSCZUIFTUSJOHBNQ BOZPDDVSSFODFTPGUIF6 "/0#3&",41"$&DIBSBDUFSCZUIFTUSJOHOCTQ
    BOE JGUIFBMHPSJUINXBTJOWPLFEJOUIF 0CCA81DC4<>34 BOZPDDVSSFODFTPGUIFDIBSBDUFSCZUIFTUSJOHRVPU

    
    PSJGJUXBTOPU BOZPDDVSSFODFTPGUIFDIBSBDUFSCZUIFTUSJOHMU BOZPDDVSSFODFTPGUIFDIBSBDUFSCZUIF
    TUSJOHHU

    *HM> !GMBMRK>?>K>G<>GH=>L:K> :LLNF>=MH;>>QI:G=>= I ;RMA>NL>K:@>GM :G=:K>MA>K>?HK>


    GHM<HO>K>=BGMA>:E@HKBMAF:;HO>

    *HM> %MBLIHLLB;E>MA:MMA>HNMINMH?MABL:E@HKBMAF B?I:KL>=PBMA:G $0)(I:KL>K I PBEEGHM


    K>MNKGMA>HKB@BG:EMK>>LMKN<MNK> "HKBGLM:G<> B?: M>QM:K>: I >E>F>GMMHPAB<A: "HFF>GM GH=>
    A:L;>>G:II>G=>=BLL>KB:EBS>=:G=MA>HNMINMBLMA>GK>I:KL>= MA><HFF>GMPBEE>G=NI;>BG@
    =BLIE:R>=BGMA>M>QM[>E= /BFBE:KER B? :L:K>LNEMH? +)F:GBINE:MBHG :G>E>F>GM<HGM:BGL:
    <HFF>GMMA:M<HGM:BGLMA>EBM>K:ELMKBG@  MA>GPA>GMA>K>LNEMH?L>KB:EBSBG@MA>>E>F>GMBL
    I:KL>= MA><HFF>GMPBEE;>MKNG<:M>=:MMA:MIHBGM:G=MA>K>LMH?MA><HFF>GMPBEE;>
    BGM>KIK>M>=:LF:KDNI )HK>>Q:FIE>LPHNE=;>F:DBG@: L<KBIM I >E>F>GM<HGM:BG:M>QMGH=>
    PBMAMA>M>QMLMKBG@L<KBIM HKA:OBG@: I I >E>F>GMMA:M<HGM:BGL: NE I >E>F>GM:LMA>
    NE I >E>F>GML LM:KMM:@ I PHNE=BFIERMA>>G=M:@?HKMA> I I 

      ,;LMCHA$0)(@L;AG?HNM

    5IFGPMMPXJOHTUFQTGPSNUIF $0)(@L;AG?HNJ;LMCHA;FAILCNBG5IFBMHPSJUINPQUJPOBMMZUBLFTBTJOQVUBO
    &MFNFOU Q OPEF SFGFSSFEUPBTUIF 2>=C4GC FMFNFOU XIJDIHJWFTUIFDPOUFYUGPSUIFQBSTFS BTXFMMBT 8=?DC BTUSJOH
    UPQBSTF BOESFUVSOTBMJTUPG[FSPPSNPSFOPEFT

    *HM> ,:KMLF:KD>= @L;AG?HN=;M? BG:E@HKBMAFLBGMA>I:KL>KL><MBHG:K>I:KMLMA:MHGERH<<NKB?


    MA>I:KL>KP:L<K>:M>=?HKMA>INKIHL>LH?MABL:E@HKBMAF:G=PBMA: <HGM>QM >E>F>GM 0A>
    :E@HKBMAFLA:O>;>>G:GGHM:M>=PBMALN<AF:KDBG@L?HKBG?HKF:MBHG:EINKIHL>LHGERLN<A
    F:KDBG@LA:O>GHGHKF:MBO>P>B@AM %?BMBLIHLLB;E>?HK:<HG=BMBHG=>L<KB;>=:L: ?K:@F>GM
    <:L> I MHH<<NK>O>GPA>GMA>I:KL>KP:LGM<K>:M>=?HKMA>INKIHL>LH?A:G=EBG@MABL:E@HKBMAF
    MA>GMA:MBL:G>KKHKBGMA>LI><B[<:MBHG

     $SFBUFBOFX %PDVNFOU Q OPEF BOENBSLJUBTCFJOHBO )5.-EPDVNFOU Q 

     *GUIFSFJTB 2>=C4GC FMFNFOU BOEUIF %PDVNFOU Q PGUIF 2>=C4GC FMFNFOUJTJO RVJSLTNPEF Q UIFOMFUUIF
    %PDVNFOU Q CFJO RVJSLTNPEF Q 0UIFSXJTF JGUIFSFJTB 2>=C4GC FMFNFOU BOEUIF %PDVNFOU Q PGUIF
    2>=C4GC FMFNFOUJTJO MJNJUFERVJSLTNPEF Q UIFOMFUUIF %PDVNFOU Q CFJO MJNJUFERVJSLTNPEF Q 
    0UIFSXJTF MFBWFUIF %PDVNFOU Q JO OPRVJSLTNPEF Q 

     $SFBUFBOFX )5.-QBSTFS Q BOEBTTPDJBUFJUXJUIUIFKVTUDSFBUFE %PDVNFOU Q OPEF

     *GUIFSFJTB 2>=C4GC FMFNFOU SVOUIFTFTVCTUFQT

     4FUUIFTUBUFPGUIF )5.-QBSTFS Q T UPLFOJ[BUJPO Q TUBHFBTGPMMPXT


    K
    X %@CNCM; ODOG@ IL O@SO<M@< K ?F?G?HN
    4XJUDIUIFUPLFOJ[FSUPUIF 3$%"5"TUBUF Q 
    K
    X %@CNCM; NOTG@
    SHK K
    DAM<H@ K
    IJ@H=@? K
    IL IJAM<H@N K ?F?G?HN
    4XJUDIUIFUPLFOJ[FSUPUIF 3"85&95TUBUF Q 
    K
    X %@CNCM; N>MDKO ?F?G?HN
    4XJUDIUIFUPLFOJ[FSUPUIF TDSJQUEBUBTUBUF Q 
    K
    X %@CNCM; IJN>MDKO ?F?G?HN
    *GUIF TDSJQUJOHЙBH Q JTFOBCMFE TXJUDIUIFUPLFOJ[FSUPUIF 3"85&95TUBUF Q 
    0UIFSXJTF MFBWFUIFUPLFOJ[FSJOUIF EBUBTUBUF Q 
    K
    X %@CNCM; KG<DIO@SO ?F?G?HN
    4XJUDIUIFUPLFOJ[FSUPUIF 1-"*/5&95TUBUF Q 

    X +NB?LQCM?
    -FBWFUIFUPLFOJ[FSJOUIF EBUBTUBUF Q 

    *HM> "HKI>K?HKF:G<>K>:LHGL :GBFIE>F>GM:MBHGMA:M=H>LGHMK>IHKM>KKHKL


    :G=MA:MNL>LMA>:<MN:ELM:M>F:<ABG>=>L<KB;>=BGMABLLI><B[<:MBHG=BK><MER
    <HNE=NL>MA>,(%*0!40LM:M>BGLM>:=H?MA>.30!40:G=L<KBIM=:M:LM:M>L

    
    PA>K>MAHL>:K>F>GMBHG>=BGMA>EBLM:;HO> !Q<>IM?HKKNE>LK>@:K=BG@I:KL>
    >KKHKL MA>R:K>>JNBO:E>GM LBG<>MA>K>BLGH :IIKHIKB:M>>G=M:@MHD>G I BG
    MA>?K:@F>GM<:L> R>MMA>RBGOHEO>?:K?>P>KLM:M>MK:GLBMBHGL

     -FU A>>C CFBOFX IUNM Q FMFNFOUXJUIOPBUUSJCVUFT

     "QQFOEUIFFMFNFOU A>>C UPUIF %PDVNFOU Q OPEFDSFBUFEBCPWF

     4FUVQUIFQBSTFST TUBDLPGPQFOFMFNFOUT Q TPUIBUJUDPOUBJOTKVTUUIFTJOHMFFMFNFOU A>>C

     3FTFUUIFQBSTFSTJOTFSUJPONPEFBQQSPQSJBUFMZ Q 

    *HM> 0A>I:KL>KPBEEK>?>K>G<>MA> <HGM>QM >E>F>GM:LI:KMH?MA:M:E@HKBMAF

     4FUUIFQBSTFST GPSN FMFNFOUQPJOUFS Q UPUIFOFBSFTUOPEFUPUIF 2>=C4GC FMFNFOUUIBUJTB


    GPSN Q FMFNFOU HPJOHTUSBJHIUVQUIFBODFTUPSDIBJO BOEJODMVEJOHUIFFMFNFOUJUTFMG JGJUJTB
    GPSN Q FMFNFOU
    PS JGUIFSFJTOPTVDI GPSN Q FMFNFOU UPOVMM

     1MBDFJOUPUIF JOQVUTUSFBN Q GPSUIF )5.-QBSTFS Q KVTUDSFBUFEUIF 8=?DC5IFFODPEJOH DPOИEFODF Q JT
    8AA4;4E0=C

     4UBSUUIFQBSTFSBOEMFUJUSVOVOUJMJUIBTDPOTVNFEBMMUIFDIBSBDUFSTKVTUJOTFSUFEJOUPUIFJOQVUTUSFBN

     *GUIFSFJTB 2>=C4GC FMFNFOU SFUVSOUIFDIJMEOPEFTPG A>>C JO USFFPSEFS Q 

    0UIFSXJTF SFUVSOUIFDIJMESFOPGUIF %PDVNFOU Q PCKFDU JO USFFPSEFS Q 

      *;G?>=B;L;=N?LL?@?L?H=?M

    5IJTUBCMFMJTUTUIFDIBSBDUFSSFGFSFODFOBNFTUIBUBSFTVQQPSUFECZ)5.- BOEUIFDPEFQPJOUTUPXIJDIUIFZSFGFS*U
    JTSFGFSFODFECZUIFQSFWJPVTTFDUJPOT
    *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB

    "&MJH 6 $ „ $DFEJM 6 $ … %JGGFSFOUJBM% 6  Ȧ &HSBWF 6 $ †

    "&MJH 6 $ „ $DFEJM 6 $ … %PQG 6 %# О &MFNFOU 6  ʉ

    ".1 6   $DJSD 6  Æ %PU 6 " g &NBDS 6  Ð

    ".1 6   $DPOJOU 6  ʪ %PU%PU 6 %$ ΰ &NQUZ4NBMM4RVBSF 6 '# ζ

    "BDVUF 6 $  $EPU 6 " È %PU&RVBM 6  ˉ &NQUZ7FSZ4NBMM4RVBSF 6 "# Π

    "BDVUF 6 $  $FEJMMB 6 # v %PVCMF$POUPVS*OUFHSBM 6 ' ʩ &PHPO 6  Ô

    "CSFWF 6  À $FOUFS%PU 6 # u %PVCMF%PU 6 " g &PQG 6 %$ П

    "DJSD 6 $ € $GS 6 % ț %PVCMF%PXO"SSPX 6 % ɲ &QTJMPO 6  Ň

    "DJSD 6 $ € $IJ 6 " Ř %PVCMF-FGU"SSPX 6 % ɯ &RVBM 6 "

    "DZ 6  ƌ $JSDMF%PU 6  ̌ %PVCMF-FGU3JHIU"SSPX 6 % ɳ &RVBM5JMEF 6  ʻ

    "GS 6 % $JSDMF.JOVT 6  ̉ %PVCMF-FGU5FF 6 "& &RVJMJCSJVN 6 $$ ɫ

    "HSBWF 6 $ ~ $JSDMF1MVT 6  ̈ %PVCMF-POH-FGU"SSPX 6 ' ϓ &TDS 6  ȝ

    "HSBWF 6 $ ~ $JSDMF5JNFT 6  ̊ %PVCMF-POH-FGU3JHIU"SSPX 6 '" ϕ &TJN 6 "

    "MQIB 6  Ń $MPDLXJTF$POUPVS*OUFHSBM 6  ʬ %PVCMF-POH3JHIU"SSPX 6 ' ϔ &UB 6  ʼn

    "NBDS 6  ¾ $MPTF$VSMZ%PVCMF2VPUF 6 % Ǩ %PVCMF3JHIU"SSPX 6 % ɱ &VNM 6 $# ‰

    "OE 6 " $MPTF$VSMZ2VPUF 6  ǥ %PVCMF3JHIU5FF 6 " ̙ &VNM 6 $# ‰

    "PHPO 6  Â $PMPO 6  ʱ %PVCMF6Q"SSPX 6 % ɰ &YJTUT 6  ʅ

    "PQG 6 % М $PMPOF 6 " %PVCMF6Q%PXO"SSPX 6 % ɴ &YQPOFOUJBM& 6  ȧ

    "QQMZ'VODUJPO 6  $POHSVFOU 6  ˖ %PVCMF7FSUJDBM#BS 6  ʟ 'DZ 6  Ơ

    "SJOH 6 $ ƒ $POJOU 6 ' ʩ %PXO"SSPX 6  ȸ 'GS 6 %

    "SJOH 6 $ ƒ $POUPVS*OUFHSBM 6 & ʨ %PXO"SSPX#BS 6  'JMMFE4NBMM4RVBSF 6 '$ η

    "TDS 6 %$ $PQG 6  Ȁ %PXO"SSPX6Q"SSPX 6 ' ɾ 'JMMFE7FSZ4NBMM4RVBSF 6 "" Ο

    "TTJHO 6  ˍ $PQSPEVDU 6  ʎ %PXO#SFWF 6  ΰł 'PQG 6 %% Р

    "UJMEF 6 $  $PVOUFS$MPDLXJTF$POUPVS*OUFHSBM 6  ʭ %PXO-FGU3JHIU7FDUPS 6  'PS"MM 6  ʂ

    "UJMEF 6 $  $SPTT 6 "' ϩ %PXO-FGU5FF7FDUPS 6 & 'PVSJFSUSG 6  Ȟ

    "VNM 6 $ ‚ $TDS 6 %& %PXO-FGU7FDUPS 6 #% ɜ 'TDS 6  Ȟ

    "VNM 6 $ ‚ $VQ 6 % %PXO-FGU7FDUPS#BS 6  (+DZ 6  ƀ

    #BDLTMBTI 6  ʓ $VQ$BQ 6 % ˆ %PXO3JHIU5FF7FDUPS 6 ' (5 6 & 

    #BSW 6 "& %% 6  ȥ %PXO3JHIU7FDUPS 6 $ ɠ (5 6 & 

    #BSXFE 6  ͠ %%PUSBIE 6  %PXO3JHIU7FDUPS#BS 6  (BNNB 6  Ņ

    #DZ 6  ƍ %+DZ 6  ſ %PXO5FF 6 " ̖ (BNNBE 6 %$ Ÿ

    #FDBVTF 6  ʯ %4DZ 6  Ƃ %PXO5FF"SSPX 6 " ɋ (CSFWF 6 & Ú

    #FSOPVMMJT 6 $ Ț %;DZ 6 ' Ƌ %PXOBSSPX 6 % ɲ (DFEJM 6  Þ

    #FUB 6  ń %BHHFS 6  ǫ %TDS 6 %' (DJSD 6 $ Ø

    #GS 6 % %BSS 6 " Ʌ %TUSPL 6  Î (DZ 6  Ə

    #PQG 6 % Н %BTIW 6 "& &/( 6 " ă (EPU 6  Ü

    #SFWF 6 % ļ %DBSPO 6 & Ì &5) 6 % Ž (GS 6 %"

    #TDS 6 $ Ț %DZ 6  Ɛ &5) 6 % Ž (H 6 % ̾

    #VNQFR 6 & ˇ %FM 6  ʈ &BDVUF 6 $ ‡ (PQG 6 %& С

    $)DZ 6  ƣ %FMUB 6  ņ &BDVUF 6 $ ‡ (SFBUFS&RVBM 6  ˙

    $01: 6 " h %GS 6 % &DBSPO 6 " Ö (SFBUFS&RVBM-FTT 6 %# ̀

    $01: 6 " h %JBDSJUJDBM"DVUF 6 # r &DJSD 6 $" ˆ (SFBUFS'VMM&RVBM 6  ˛

    $BDVUF 6  Ä %JBDSJUJDBM%PU 6 % Ľ &DJSD 6 $" ˆ (SFBUFS(SFBUFS 6 ""

    $BQ 6 % %JBDSJUJDBM%PVCMF"DVUF 6 %% Ł &DZ 6 % Ʃ (SFBUFS-FTT 6  ˫

    $BQJUBM%JGGFSFOUJBM% 6  ȥ %JBDSJUJDBM(SBWF 6  A &EPU 6  Ò (SFBUFS4MBOU&RVBM 6 "& ϫ

    $BZMFZT 6 % ț %JBDSJUJDBM5JMEF 6 %$ ŀ &GS 6 % (SFBUFS5JMEF 6  ˧

    $DBSPO 6 $ Ê %JBNPOE 6 $ ̲ &HSBWF 6 $ † (TDS 6 %"

    
    *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB

    (U 6 # ˟ -FTT&RVBM(SFBUFS 6 %" ̿ 0HSBWF 6 %  4DBSPO 6  ė


    )"3%DZ 6 " Ʀ -FTT'VMM&RVBM 6  ˚ 0NBDS 6 $ ą 4DFEJM 6 & ĕ
    )BDFL 6 $ Ļ -FTT(SFBUFS 6  ˪ 0NFHB 6 " Ś 4DJSD 6 $ ē
    )BU 6 & ? -FTT-FTT 6 "" 0NJDSPO 6 ' ő 4DZ 6  Ɲ
    )DJSD 6  ß -FTT4MBOU&RVBM 6 "% Ϫ 0PQG 6 % Ч 4GS 6 %
    )GS 6 $ ȃ -FTT5JMEF 6  ˦ 0QFO$VSMZ%PVCMF2VPUF 6 $ ǧ 4IPSU%PXO"SSPX 6  ȸ
    )JMCFSU4QBDF 6 # Ȃ -GS 6 %' 0QFO$VSMZ2VPUF 6  Ǥ 4IPSU-FGU"SSPX 6  ȵ
    )PQG 6 % Ȅ -M 6 % ̽ 0S 6 " 4IPSU3JHIU"SSPX 6  ȷ
    )PSJ[POUBM-JOF 6  Ͱ -MFGUBSSPX 6 %" ɹ 0TDS 6 %"" 4IPSU6Q"SSPX 6  ȶ
    )TDS 6 # Ȃ -NJEPU 6 ' ø 0TMBTI 6 % – 4JHNB 6 " Ŕ
    )TUSPL 6  á -POH-FGU"SSPX 6 ' ϐ 0TMBTI 6 % – 4NBMM$JSDMF 6  ʕ
    )VNQ%PXO)VNQ 6 & ˇ -POH-FGU3JHIU"SSPX 6 ' ϒ 0UJMEF 6 % “ 4PQG 6 %" Ш
    )VNQ&RVBM 6 ' ˈ -POH3JHIU"SSPX 6 ' ϑ 0UJMEF 6 % “ 4RSU 6 " ʖ
    *&DZ 6  Ƒ -POHMFGUBSSPX 6 ' ϓ 0UJNFT 6 " 4RVBSF 6 " Ξ
    *+MJH 6  ë -POHMFGUSJHIUBSSPX 6 '" ϕ 0VNM 6 % ” 4RVBSF*OUFSTFDUJPO 6  ̆
    *0DZ 6  ž -POHSJHIUBSSPX 6 ' ϔ 0VNM 6 % ” 4RVBSF4VCTFU 6 ' ̂
    *BDVUF 6 $% ‹ -PQG 6 % Х 0WFS#BS 6 & Ƿ 4RVBSF4VCTFU&RVBM 6  ̄
    *BDVUF 6 $% ‹ -PXFS-FGU"SSPX 6  Ⱦ 0WFS#SBDF 6 %& 4RVBSF4VQFSTFU 6  ̃
    *DJSD 6 $& Œ -PXFS3JHIU"SSPX 6  Ƚ 0WFS#SBDLFU 6 # 4RVBSF4VQFSTFU&RVBM 6  ̅
    *DJSD 6 $& Œ -TDS 6  ȉ 0WFS1BSFOUIFTJT 6 %$ 4RVBSF6OJPO 6  ̇
    *DZ 6  Ɣ -TI 6 # ɒ 1BSUJBM% 6  ʄ 4TDS 6 %"&
    Q
    *EPU 6  é -TUSPL 6  ú 1DZ 6 ' ƛ 4UBS 6 $ ̴
    *GS 6  Ȉ -U 6 " ˞ 1GS 6 % 4VC 6 %
    *HSBWF 6 $$ Š .BQ 6  1IJ 6 " ŗ 4VCTFU 6 %
    *HSBWF 6 $$ Š .DZ 6 $ Ƙ 1J 6 " Œ 4VCTFU&RVBM 6  ˺
    *N 6  Ȉ .FEJVN4QBDF 6 ' 1MVT.JOVT 6 # o 4VDDFFET 6 # ˯
    *NBDS 6 " å .FMMJOUSG 6  ȟ 1PJODBSFQMBOF 6 $ ȃ 4VDDFFET&RVBM 6 "# Ў
    *NBHJOBSZ* 6  Ȩ .GS 6 % 1PQG 6  ȏ 4VDDFFET4MBOU&RVBM 6 % ˱
    *NQMJFT 6 % ɱ .JOVT1MVT 6  ʑ 1S 6 "## 4VDDFFET5JMEF 6 ' ˳
    *OU 6 $ ʦ .PQG 6 % Ц 1SFDFEFT 6 " ˮ 4VDI5IBU 6 # ʋ
    *OUFHSBM 6 # ʥ .TDS 6  ȟ 1SFDFEFT&RVBM 6 ""' Ѝ 4VN 6  ʏ
    *OUFSTFDUJPO 6 $ ̰ .V 6 $ Ŏ 1SFDFEFT4MBOU&RVBM 6 $ ˰ 4VQ 6 %
    *OWJTJCMF$PNNB 6  Ǿ /+DZ 6 " Ƈ 1SFDFEFT5JMEF 6 & ˲ 4VQFSTFU 6  ˷
    *OWJTJCMF5JNFT 6  /BDVUF 6  ü 1SJNF 6  Dz 4VQFSTFU&RVBM 6  ˻
    *PHPO 6 & ç /DBSPO 6  Ā 1SPEVDU 6 ' ʍ 4VQTFU 6 %
    *PQG 6 % Т /DFEJM 6  þ 1SPQPSUJPO 6  ʱ 5)03/ 6 %& œ
    *PUB 6  ŋ /DZ 6 % ƙ 1SPQPSUJPOBM 6 % ʗ 5)03/ 6 %& œ
    *TDS 6  ȇ /FHBUJWF.FEJVN4QBDF 6 # 1TDS 6 %"# 53"%& 6  ȕ
    *UJMEF 6  ã /FHBUJWF5IJDL4QBDF 6 # 1TJ 6 " ř 54)DZ 6 # ƈ
    *VLDZ 6  ƃ /FHBUJWF5IJO4QBDF 6 # 2605 6   54DZ 6  Ƣ
    *VNM 6 $'  /FHBUJWF7FSZ5IJO4QBDF 6 # 2605 6   5BC 6 
    *VNM 6 $'  /FTUFE(SFBUFS(SFBUFS 6 # ˟ 2GS 6 % 5BV 6 " ŕ
    +DJSD 6  í /FTUFE-FTT-FTT 6 " ˞ 2PQG 6 " Ȑ 5DBSPO 6  ě
    +DZ 6  ƕ /FX-JOF 6 " 2TDS 6 %"$ 5DFEJM 6  ę
    +GS 6 %% /GS 6 % 3#BSS 6  5DZ 6  ƞ
    +PQG 6 % У /P#SFBL 6  ǽ 3&( 6 "& l 5GS 6 %
    +TDS 6 %" /PO#SFBLJOH4QBDF 6 " 3&( 6 "& l 5IFSFGPSF 6  ʮ
    +TFSDZ 6  ƅ /PQG 6  ȋ 3BDVUF 6  ċ 5IFUB 6  Ŋ
    +VLDZ 6  Ɓ /PU 6 "&$ 3BOH 6 &# Ϗ 5IJO4QBDF 6 
    ,)DZ 6  ơ /PU$POHSVFOU 6  ˗ 3BSS 6 " Ʉ 5JMEF 6 $ ʵ
    ,+DZ 6 $ Ɖ /PU$VQ$BQ 6 % ˡ 3BSSUM 6  5JMEF&RVBM 6  ʼ
    ,BQQB 6 " Ō /PU%PVCMF7FSUJDBM#BS 6  ʠ 3DBSPO 6  ď 5JMEF'VMM&RVBM 6  ʾ
    ,DFEJM 6  ï /PU&MFNFOU 6  ʊ 3DFEJM 6  č 5JMEF5JMEF 6  ˁ
    ,DZ 6 " Ɩ /PU&RVBM 6  ˕ 3DZ 6  Ɯ 5PQG 6 %# Щ
    ,GS 6 %& /PU&YJTUT 6  ʆ 3F 6 $ Ȓ 5SJQMF%PU 6 %# ΰ
    ,PQG 6 % Ф /PU(SFBUFS 6 ' ˣ 3FWFSTF&MFNFOU 6 # ʋ 5TDS 6 %"'
    ,TDS 6 %" /PU(SFBUFS&RVBM 6  ˥ 3FWFSTF&RVJMJCSJVN 6 $# ɪ 5TUSPL 6  ĝ
    -+DZ 6  Ɔ /PU(SFBUFS-FTT 6  ˭ 3FWFSTF6Q&RVJMJCSJVN 6 ' 6BDVUF 6 %" ˜
    -5 6 $  /PU(SFBUFS5JMEF 6  ˩ 3GS 6 $ Ȓ 6BDVUF 6 %" ˜
    -5 6 $  /PU-FGU5SJBOHMF 6 &" ͋ 3IP 6 " œ 6BSS 6 ' Ƀ
    -BDVUF 6  ò /PU-FGU5SJBOHMF&RVBM 6 &$ ͍ 3JHIU"OHMF#SBDLFU 6 & 6BSSPDJS 6 
    -BNCEB 6 # ō /PU-FTT 6 & ˢ 3JHIU"SSPX 6  ȷ 6CSDZ 6 & Ɗ
    -BOH 6 &" ώ /PU-FTT&RVBM 6  ˤ 3JHIU"SSPX#BS 6 & ɽ 6CSFWF 6 $ ģ
    -BQMBDFUSG 6  ȉ /PU-FTT(SFBUFS 6  ˬ 3JHIU"SSPX-FGU"SSPX 6 $ ɣ 6DJSD 6 %# ™
    -BSS 6 & ɂ /PU-FTT5JMEF 6  ˨ 3JHIU$FJMJOH 6  ͢ 6DJSD 6 %# ™
    -DBSPO 6 % ö /PU1SFDFEFT 6  ˴ 3JHIU%PVCMF#SBDLFU 6 & ύ 6DZ 6  Ɵ
    -DFEJM 6 # ô /PU1SFDFEFT4MBOU&RVBM 6 & ̓ 3JHIU%PXO5FF7FDUPS 6 % 6ECMBD 6  ħ
    -DZ 6 # Ɨ /PU3FWFSTF&MFNFOU 6 $ ʌ 3JHIU%PXO7FDUPS 6 $ ɡ 6GS 6 %
    -FGU"OHMF#SBDLFU 6 & /PU3JHIU5SJBOHMF 6 &# ͌ 3JHIU%PXO7FDUPS#BS 6  6HSBWF 6 % —
    -FGU"SSPX 6  ȵ /PU3JHIU5SJBOHMF&RVBM 6 &% ͎ 3JHIU'MPPS 6 # ͤ 6HSBWF 6 % —
    -FGU"SSPX#BS 6 & ɼ /PU4RVBSF4VCTFU&RVBM 6 & ͅ 3JHIU5FF 6 " ̔ 6NBDS 6 " ġ
    -FGU"SSPX3JHIU"SSPX 6 $ ɥ /PU4RVBSF4VQFSTFU&RVBM 6 & ͆ 3JHIU5FF"SSPX 6 " Ɋ 6OEFS#BS 6 ' @
    -FGU$FJMJOH 6  ͡ /PU4VCTFU&RVBM 6  ˼ 3JHIU5FF7FDUPS 6 # 6OEFS#SBDF 6 %'
    -FGU%PVCMF#SBDLFU 6 & ό /PU4VDDFFET 6  ˵ 3JHIU5SJBOHMF 6 # ̢ 6OEFS#SBDLFU 6 #
    -FGU%PXO5FF7FDUPS 6  /PU4VDDFFET4MBOU&RVBM 6 & ̈́ 3JHIU5SJBOHMF#BS 6 % Ϛ 6OEFS1BSFOUIFTJT 6 %%
    -FGU%PXO7FDUPS 6 $ ɢ /PU4VQFSTFU&RVBM 6  ˽ 3JHIU5SJBOHMF&RVBM 6 # ̤ 6OJPO 6 $ ̱
    -FGU%PXO7FDUPS#BS 6  /PU5JMEF 6  ʺ 3JHIU6Q%PXO7FDUPS 6 ' 6OJPO1MVT 6 & ́
    -FGU'MPPS 6 " ͣ /PU5JMEF&RVBM 6  ʽ 3JHIU6Q5FF7FDUPS 6 $ 6PHPO 6  ĩ
    -FGU3JHIU"SSPX 6  ȹ /PU5JMEF'VMM&RVBM 6  ˀ 3JHIU6Q7FDUPS 6 #& ɝ 6PQG 6 %$ Ъ
    -FGU3JHIU7FDUPS 6 & /PU5JMEF5JMEF 6  ˂ 3JHIU6Q7FDUPS#BS 6  6Q"SSPX 6  ȶ
    -FGU5FF 6 " ̕ /PU7FSUJDBM#BS 6  ʞ 3JHIU7FDUPS 6 $ ɟ 6Q"SSPX#BS 6 
    -FGU5FF"SSPX 6 " Ɉ /TDS 6 %" 3JHIU7FDUPS#BS 6  6Q"SSPX%PXO"SSPX 6 $ ɤ
    -FGU5FF7FDUPS 6 " /UJMEF 6 %  3JHIUBSSPX 6 % ɱ 6Q%PXO"SSPX 6  Ⱥ
    -FGU5SJBOHMF 6 # ̡ /UJMEF 6 %  3PQG 6 % ȓ 6Q&RVJMJCSJVN 6 &
    -FGU5SJBOHMF#BS 6 $' ϙ /V 6 % ŏ 3PVOE*NQMJFT 6  6Q5FF 6 " ̗
    -FGU5SJBOHMF&RVBM 6 # ̣ 0&MJH 6  ĉ 3SJHIUBSSPX 6 %# ɺ 6Q5FF"SSPX 6 " ɉ
    -FGU6Q%PXO7FDUPS 6  0BDVUF 6 % ‘ 3TDS 6 # ȑ 6QBSSPX 6 % ɰ
    -FGU6Q5FF7FDUPS 6  0BDVUF 6 % ‘ 3TI 6 # ɓ 6QEPXOBSSPX 6 % ɴ
    -FGU6Q7FDUPS 6 #' ɞ 0DJSD 6 % ’ 3VMF%FMBZFE 6 ' 6QQFS-FGU"SSPX 6  Ȼ
    -FGU6Q7FDUPS#BS 6  0DJSD 6 % ’ 4)$)DZ 6  ƥ 6QQFS3JHIU"SSPX 6  ȼ
    -FGU7FDUPS 6 #$ ɛ 0DZ 6 & ƚ 4)DZ 6  Ƥ 6QTJ 6 % ŵ
    -FGU7FDUPS#BS 6  0ECMBD 6  ć 40'5DZ 6 $ ƨ 6QTJMPO 6 " Ŗ
    -FGUBSSPX 6 % ɯ 0GS 6 % 4BDVUF 6 " đ 6SJOH 6 & ĥ
    -FGUSJHIUBSSPX 6 % ɳ 0HSBWF 6 %  4D 6 "#$ 6TDS 6 %#

    
    *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB

    6UJMEF 6  ğ BOHTU 6 $ ƒ CPY7I 6 # Ζ DPNQ 6  ʃ


    6VNM 6 %$ š BOH[BSS 6 $ CPY7M 6  ΍ DPNQGO 6  ʕ
    6VNM 6 %$ š BPHPO 6  à CPY7S 6 ' Ί DPNQMFNFOU 6  ʃ
    7%BTI 6 "# ̜ BPQG 6 % Я CPYCPY 6 $ DPNQMFYFT 6  Ȁ
    7CBS 6 "&# BQ 6  ˁ CPYE- 6  ΀ DPOH 6  ʾ
    7DZ 6  Ǝ BQ& 6 " CPYE3 6  ͽ DPOHEPU 6 "%
    7EBTI 6 " ̚ BQBDJS 6 "' CPYEM 6  ͳ DPOJOU 6 & ʨ
    7EBTIM 6 "& BQF 6 " ˃ CPYES 6 $ Ͳ DPQG 6 % б
    7FF 6 $ ̯ BQJE 6 # ˄ CPYI 6  Ͱ DPQSPE 6  ʎ
    7FSCBS 6  ǣ BQPT 6   CPYI% 6  ΐ DPQZ 6 " h
    7FSU 6  ǣ BQQSPY 6  ˁ CPYI6 6  Γ DPQZ 6 " h
    7FSUJDBM#BS 6  ʝ BQQSPYFR 6 " ˃ CPYIE 6 $ ͸ DPQZTS 6  ȍ
    7FSUJDBM-JOF 6 $ ] BSJOH 6 & £ CPYIV 6  ͹ DSBSS 6 # ɖ
    7FSUJDBM4FQBSBUPS 6  ω BSJOH 6 & £ CPYNJOVT 6 ' ̑ DSPTT 6  φ
    7FSUJDBM5JMEF 6  ʹ BTDS 6 %# CPYQMVT 6 & ̐ DTDS 6 %#
    7FSZ5IJO4QBDF 6 " BTU 6 " CPYUJNFT 6 " ̒ DTVC 6 "$'
    7GS 6 % BTZNQ 6  ˁ CPYV- 6 # Ά DTVCF 6 "%
    7PQG 6 %% Ы BTZNQFR 6 % ˆ CPYV3 6  ΃ DTVQ 6 "%
    7TDS 6 %# BUJMEF 6 & ¡ CPYVM 6  ͵ DTVQF 6 "%
    7WEBTI 6 "" ̛ BUJMEF 6 & ¡ CPYVS 6  ʹ DUEPU 6 &' ͐
    8DJSD 6  ī BVNM 6 & ¢ CPYW 6  ͱ DVEBSSM 6 
    8FEHF 6 $ ̮ BVNM 6 & ¢ CPYW) 6 " Ε DVEBSSS 6 
    8GS 6 %" BXDPOJOU 6  ʭ CPYW- 6  Ό DVFQS 6 %& ́
    8PQG 6 %& Ь BXJOU 6 " Ϣ CPYW3 6 & Ή DVFTD 6 %' ͂
    8TDS 6 %# C/PU 6 "&% CPYWI 6 $ ͺ DVMBSS 6 # ɗ
    9GS 6 %# CBDLDPOH 6 $ ˅ CPYWM 6  ͷ DVMBSSQ 6 %
    9J 6 & Ő CBDLFQTJMPO 6 ' Ž CPYWS 6 $ Ͷ DVQ 6 " ʤ
    9PQG 6 %' Э CBDLQSJNF 6  Ǵ CQSJNF 6  Ǵ DVQCSDBQ 6 "
    9TDS 6 %# CBDLTJN 6 % ʶ CSFWF 6 % ļ DVQDBQ 6 "
    :"DZ 6 ' ƫ CBDLTJNFR 6 $% ̺ CSWCBS 6 " e DVQDVQ 6 ""
    :*DZ 6  Ƅ CBSWFF 6 #% ̫ CSWCBS 6 " e DVQEPU 6 % ̀
    :6DZ 6 & ƪ CBSXFE 6  ͟ CTDS 6 %# DVQPS 6 "
    :BDVUF 6 %% › CBSXFEHF 6  ͟ CTFNJ 6 ' ǻ DVSBSS 6 # ɘ
    :BDVUF 6 %% › CCSL 6 # CTJN 6 % ʶ DVSBSSN 6 $
    :DJSD 6  ĭ CCSLUCSL 6 # CTJNF 6 $% ̺ DVSMZFRQSFD 6 %& ́
    :DZ 6 # Ƨ CDPOH 6 $ ˅ CTPM 6 $ = DVSMZFRTVDD 6 %' ͂
    :GS 6 %$ CDZ 6  ƭ CTPMC 6 $ DVSMZWFF 6 $&
    :PQG 6 % Ю CERVP 6 & ǩ CTPMITVC 6 $ DVSMZXFEHF 6 $'
    :TDS 6 %# CFDBVT 6  ʯ CVMM 6  Ǭ DVSSFO 6 " c
    :VNM 6  į CFDBVTF 6  ʯ CVMMFU 6  Ǭ DVSSFO 6 " c
    ;)DZ 6  ƒ CFNQUZW 6 # CVNQ 6 & ˇ DVSWFBSSPXMFGU 6 # ɗ
    ;BDVUF 6  İ CFQTJ 6 ' Ž CVNQ& 6 ""& Ќ DVSWFBSSPXSJHIU 6 # ɘ
    ;DBSPO 6 % Ĵ CFSOPV 6 $ Ț CVNQF 6 ' ˈ DVWFF 6 $&
    ;DZ 6  Ɠ CFUB 6 # Ŝ CVNQFR 6 ' ˈ DVXFE 6 $'
    ;EPU 6 # IJ CFUI 6  Ȣ DBDVUF 6  Å DXDPOJOU 6  ʬ
    ;FSP8JEUI4QBDF 6 # CFUXFFO 6 $ ˠ DBQ 6  ʣ DXJOU 6  ʫ
    ;FUB 6  ň CGS 6 %' DBQBOE 6 " DZMDUZ 6 %
    ;GS 6  Ș CJHDBQ 6 $ ̰ DBQCSDVQ 6 " E"SS 6 % ɲ
    ;PQG 6  Ȗ CJHDJSD 6 &' β DBQDBQ 6 "# E)BS 6 
    ;TDS 6 %# CJHDVQ 6 $ ̱ DBQDVQ 6 " EBHHFS 6  Ǫ
    BBDVUF 6 & Ÿ CJHPEPU 6 " Ϝ DBQEPU 6 " EBMFUI 6  Ȥ
    BBDVUF 6 & Ÿ CJHPQMVT 6 " ϝ DBSFU 6  Ǹ EBSS 6  ȸ
    BCSFWF 6  Á CJHPUJNFT 6 " Ϟ DBSPO 6 $ Ļ EBTI 6  ǟ
    BD 6 & ʷ CJHTRDVQ 6 " DDBQT 6 "% EBTIW 6 " ̕
    BDE 6 ' ʸ CJHTUBS 6  θ DDBSPO 6 % Ë ECLBSPX 6 '
    BDJSD 6 &   CJHUSJBOHMFEPXO 6 #% Ω DDFEJM 6 & ¥ ECMBD 6 %% Ł
    BDJSD 6 &   CJHUSJBOHMFVQ 6 # Τ DDFEJM 6 & ¥ EDBSPO 6 ' Í
    BDVUF 6 # r CJHVQMVT 6 " DDJSD 6  Ç EDZ 6  ư
    BDVUF 6 # r CJHWFF 6 $ ̯ DDVQT 6 "$ EE 6  Ȧ
    BDZ 6  Ƭ CJHXFEHF 6 $ ̮ DDVQTTN 6 " EEBHHFS 6  ǫ
    BFMJH 6 & ¤ CLBSPX 6 % DEPU 6 # É EEBSS 6 $" ɩ
    BFMJH 6 & ¤ CMBDLMP[FOHF 6 &# ϛ DFEJM 6 # v EEPUTFR 6 "
    BG 6  CMBDLTRVBSF 6 "" Ο DFEJM 6 # v EFH 6 # n
    BGS 6 %& CMBDLUSJBOHMF 6 # Υ DFNQUZW 6 # EFH 6 # n
    BHSBWF 6 & ž CMBDLUSJBOHMFEPXO 6 #& Ϊ DFOU 6 " a EFMUB 6 # Ş
    BHSBWF 6 & ž CMBDLUSJBOHMFMFGU 6 $ ά DFOU 6 " a EFNQUZW 6 #
    BMFGTZN 6  ȡ CMBDLUSJBOHMFSJHIU 6 # Χ DFOUFSEPU 6 # u EGJTIU 6 '
    BMFQI 6  ȡ CMBOL 6  ͯ DGS 6 % EGS 6 %
    BMQIB 6 # ś CML 6  Μ DIDZ 6  ǃ EIBSM 6 $ ɢ
    BNBDS 6  ¿ CML 6  Λ DIFDL 6  υ EIBSS 6 $ ɡ
    BNBMH 6 "' CML 6  Ν DIFDLNBSL 6  υ EJBN 6 $ ̲
    BNQ 6   CMPDL 6  Κ DIJ 6 $ ű EJBNPOE 6 $ ̲
    BNQ 6   COPU 6  ͩ DJS 6 $# ί EJBNPOETVJU 6  π
    BOE 6  ʡ CPQG 6 % а DJS& 6 $ EJBNT 6  π
    BOEBOE 6 " CPU 6 " ̗ DJSD 6 $ ĺ EJF 6 " g
    BOEE 6 "$ CPUUPN 6 " ̗ DJSDFR 6  ː EJHBNNB 6 %% Ź
    BOETMPQF 6 " CPXUJF 6 $ ̵ DJSDMFBSSPXMFGU 6 #" ə EJTJO 6 ' ͓
    BOEW 6 "" CPY%- 6  ΂ DJSDMFBSSPXSJHIU 6 ## ɚ EJW 6 ' µ
    BOH 6  ʚ CPY%3 6  Ϳ DJSDMFE3 6 "& l EJWJEF 6 ' µ
    BOHF 6 " CPY%M 6  ΁ DJSDMFE4 6 $ EJWJEF 6 ' µ
    BOHMF 6  ʚ CPY%S 6  ; DJSDMFEBTU 6 # ̎ EJWJEFPOUJNFT 6 $
    BOHNTE 6  ʛ CPY) 6  ͻ DJSDMFEDJSD 6 " ̍ EJWPOY 6 $
    BOHNTEBB 6 " CPY)% 6  Α DJSDMFEEBTI 6 % ̏ EKDZ 6  Ǎ
    BOHNTEBC 6 " CPY)6 6  Δ DJSF 6  ː EMDPSO 6 & ͬ
    BOHNTEBD 6 "" CPY)E 6  Ώ DJSGOJOU 6 " ϡ EMDSPQ 6 % ͦ
    BOHNTEBE 6 "# CPY)V 6  Β DJSNJE 6 "&' EPMMBS 6  
    BOHNTEBF 6 "$ CPY6- 6 % Έ DJSTDJS 6 $ EPQG 6 % в
    BOHNTEBG 6 "% CPY63 6 " ΅ DMVCT 6  ξ EPU 6 % Ľ
    BOHNTEBH 6 "& CPY6M 6 $ · DMVCTVJU 6  ξ EPUFR 6  ˉ
    BOHNTEBI 6 "' CPY6S 6  ΄ DPMPO 6 "  EPUFREPU 6  ˊ
    BOHSU 6 ' ʙ CPY7 6  ͼ DPMPOF 6  ˍ EPUNJOVT 6  ʲ
    BOHSUWC 6 #& ̬ CPY7) 6 $ Η DPMPOFR 6  ˍ EPUQMVT 6  ʒ
    BOHSUWCE 6 % CPY7- 6  Ύ DPNNB 6 $ EPUTRVBSF 6 " ̓
    BOHTQI 6  ʜ CPY73 6  ΋ DPNNBU 6  ! EPVCMFCBSXFEHF 6  ͠

    
    *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB

    EPXOBSSPX 6  ȸ GMBU 6 % ς IBSSX 6 "% ɐ LTDS 6 %$


    EPXOEPXOBSSPXT 6 $" ɩ GMMJH 6 '# Й ICBS 6 ' Ȇ M"BSS 6 %" ɹ
    EPXOIBSQPPOMFGU 6 $ ɢ GMUOT 6 # Σ IDJSD 6  à M"SS 6 % ɯ
    EPXOIBSQPPOSJHIU 6 $ ɡ GOPG 6  Ķ IFBSUT 6  ο M"UBJM 6 #
    ESCLBSPX 6  GPQG 6 % д IFBSUTVJU 6  ο M#BSS 6 &
    ESDPSO 6 ' ͭ GPSBMM 6  ʂ IFMMJQ 6  Ǯ M& 6  ˚
    ESDSPQ 6 $ ͥ GPSL 6 % IFSDPO 6 # ̨ M&H 6 "# ϸ
    ETDS 6 %# GPSLW 6 "% IGS 6 % M)BS 6 
    ETDZ 6  ǐ GQBSUJOU 6 "% Ϡ ILTFBSPX 6  MBDVUF 6 " ó
    ETPM 6 ' GSBD 6 #% { ILTXBSPX 6  MBFNQUZW 6 #
    ETUSPL 6  Ï GSBD 6 #% { IPBSS 6 '' ʁ MBHSBO 6  ȉ
    EUEPU 6 ' ͒ GSBD 6  ȩ IPNUIU 6 # ʴ MBNCEB 6 ## ť
    EUSJ 6 #' Ϋ GSBD 6 #$ z IPPLMFGUBSSPX 6 " Ɍ MBOH 6 &
    EUSJG 6 #& Ϊ GSBD 6 #$ z IPPLSJHIUBSSPX 6 "" ɍ MBOHE 6 
    EVBSS 6 ' ɾ GSBD 6  ȫ IPQG 6 % ж MBOHMF 6 &
    EVIBS 6 ' GSBD 6  ȯ IPSCBS 6  Ǣ MBQ 6 " ϲ
    EXBOHMF 6 " GSBD 6 # ȱ ITDS 6 %#% MBRVP 6 "# j
    E[DZ 6 ' Ǚ GSBD 6  Ȫ ITMBTI 6 ' Ȇ MBRVP 6 "# j
    E[JHSBSS 6 '' ϗ GSBD 6  Ȭ ITUSPL 6  â MBSS 6  ȵ
    F%%PU 6 " GSBD 6 #& | IZCVMM 6  ǹ MBSSC 6 & ɼ
    F%PU 6  ˊ GSBD 6 #& | IZQIFO 6  ǟ MBSSCGT 6 '
    FBDVUF 6 & § GSBD 6  ȭ JBDVUF 6 &% « MBSSGT 6 %
    FBDVUF 6 & § GSBD 6 $ Ȳ JBDVUF 6 &% « MBSSIL 6 " Ɍ
    FBTUFS 6 "& GSBD 6  Ȯ JD 6  Ǿ MBSSMQ 6 "# Ɏ
    FDBSPO 6 # × GSBD 6 " Ȱ JDJSD 6 && ¬ MBSSQM 6 
    FDJS 6  ˏ GSBD 6 % ȳ JDJSD 6 && ¬ MBSSTJN 6 
    FDJSD 6 &" ¨ GSBD 6 & ȴ JDZ 6  ƴ MBSSUM 6 " Ɇ
    FDJSD 6 &" ¨ GSBTM 6  Ǻ JFDZ 6  Ʊ MBU 6 ""#
    FDPMPO 6  ˎ GSPXO 6  JFYDM 6 " ` MBUBJM 6 
    FDZ 6 % lj GTDS 6 %## JFYDM 6 " ` MBUF 6 ""%
    FEPU 6  Ó H& 6  ˛ JGG 6 % ɳ MCBSS 6 $
    FF 6  ȧ H&M 6 "$ Ϲ JGS 6 % MCCSL 6  ϊ
    FG%PU 6  ˋ HBDVUF 6 ' ĸ JHSBWF 6 &$ ª MCSBDF 6 # \
    FGS 6 % HBNNB 6 # ŝ JHSBWF 6 &$ ª MCSBDL 6 # <
    FH 6 "" Ї HBNNBE 6 %% Ź JJ 6  Ȩ MCSLF 6 #
    FHSBWF 6 & ¦ HBQ 6 " ϳ JJJJOU 6 "$ ϟ MCSLTME 6 '
    FHSBWF 6 & ¦ HCSFWF 6 ' Û JJJOU 6 % ʧ MCSLTMV 6 %
    FHT 6 " Ѓ HDJSD 6 % Ù JJOGJO 6 %$ MDBSPO 6 & ÷
    FHTEPU 6 " Ѕ HDZ 6  Ư JJPUB 6  ș MDFEJM 6 $ õ
    FM 6 " І HEPU 6  Ý JKMJH 6  ì MDFJM 6  ͡
    FMJOUFST 6 & HF 6  ˙ JNBDS 6 # æ MDVC 6 # \
    FMM 6  Ȋ HFM 6 %# ̀ JNBHF 6  Ȉ MDZ 6 # Ʒ
    FMT 6 " Ђ HFR 6  ˙ JNBHMJOF 6  ȇ MEDB 6 
    FMTEPU 6 " Є HFRR 6  ˛ JNBHQBSU 6  Ȉ MERVP 6 $ ǧ
    FNBDS 6  Ñ HFRTMBOU 6 "& ϫ JNBUI 6  ê MERVPS 6 & ǩ
    FNQUZ 6  ʇ HFT 6 "& ϫ JNPG 6 # ̦ MESEIBS 6 
    FNQUZTFU 6  ʇ HFTDD 6 "" JNQFE 6 # ķ MESVTIBS 6 #
    FNQUZW 6  ʇ HFTEPU 6 " ϭ JO 6  ʉ METI 6 # ɔ
    FNTQ 6  HFTEPUP 6 " ϯ JODBSF 6  ȁ MF 6  ˘
    FNTQ 6  HFTEPUPM 6 " ϱ JOGJO 6 & ʘ MFGUBSSPX 6  ȵ
    FNTQ 6  HFTMFT 6 " Ё JOGJOUJF 6 %% MFGUBSSPXUBJM 6 " Ɇ
    FOH 6 # Ą HGS 6 % JOPEPU 6  ê MFGUIBSQPPOEPXO 6 #% ɜ
    FOTQ 6  HH 6 # ˟ JOU 6 # ʥ MFGUIBSQPPOVQ 6 #$ ɛ
    FPHPO 6  Õ HHH 6 % ̾ JOUDBM 6 #" ̩ MFGUMFGUBSSPXT 6 $ ɦ
    FPQG 6 % г HJNFM 6  ȣ JOUFHFST 6  Ȗ MFGUSJHIUBSSPX 6  ȹ
    FQBS 6 % HKDZ 6  ǎ JOUFSDBM 6 #" ̩ MFGUSJHIUBSSPXT 6 $ ɥ
    FQBSTM 6 & HM 6  ˫ JOUMBSIL 6 " Ϩ MFGUSJHIUIBSQPPOT 6 $# ɪ
    FQMVT 6 " HM& 6 " Ͽ JOUQSPE 6 "$ MFGUSJHIUTRVJHBSSPX 6 "% ɐ
    FQTJ 6 # ş HMB 6 "" JPDZ 6  nj MFGUUISFFUJNFT 6 $# ̸
    FQTJMPO 6 # ş HMK 6 "" JPHPO 6 ' è MFH 6 %" ̿
    FQTJW 6 ' ż HO& 6  ˝ JPQG 6 %" з MFR 6  ˘
    FRDJSD 6  ˏ HOBQ 6 "" Ϸ JPUB 6 # ţ MFRR 6  ˚
    FRDPMPO 6  ˎ HOBQQSPY 6 "" Ϸ JQSPE 6 "$ MFRTMBOU 6 "% Ϫ
    FRTJN 6  ʻ HOF 6 " ϵ JRVFTU 6 #' } MFT 6 "% Ϫ
    FRTMBOUHUS 6 " Ѓ HOFR 6 " ϵ JRVFTU 6 #' } MFTDD 6 ""
    FRTMBOUMFTT 6 " Ђ HOFRR 6  ˝ JTDS 6 %#& MFTEPU 6 "' Ϭ
    FRVBMT 6 %  HOTJN 6 & ͈ JTJO 6  ʉ MFTEPUP 6 " Ϯ
    FRVFTU 6 ' ˔ HPQG 6 % е JTJO& 6 ' ͙ MFTEPUPS 6 " ϰ
    FRVJW 6  ˖ HSBWF 6  A JTJOEPU 6 ' ͖ MFTHFT 6 " Ѐ
    FRVJW%% 6 " HTDS 6 " H JTJOT 6 ' ͕ MFTTBQQSPY 6 " ϲ
    FRWQBSTM 6 & HTJN 6  ˧ JTJOTW 6 ' ͔ MFTTEPU 6 % ̻
    FS%PU 6  ˌ HTJNF 6 "& ϻ JTJOW 6  ʉ MFTTFRHUS 6 %" ̿
    FSBSS 6  HTJNM 6 " Ͻ JU 6  MFTTFRRHUS 6 "# ϸ
    FTDS 6 ' Ȝ HU 6 &  JUJMEF 6  ä MFTTHUS 6  ˪
    FTEPU 6  ˉ HU 6 &  JVLDZ 6  Ǒ MFTTTJN 6  ˦
    FTJN 6  ʻ HUDD 6 "" JVNM 6 &' ­ MGJTIU 6 $
    FUB 6 # š HUDJS 6 "" JVNM 6 &' ­ MGMPPS 6 " ͣ
    FUI 6 ' ® HUEPU 6 % ̼ KDJSD 6  î MGS 6 %
    FUI 6 ' ® HUM1BS 6  KDZ 6  Ƶ MH 6  ˪
    FVNM 6 &# © HURVFTU 6 "$ KGS 6 % MH& 6 " Ͼ
    FVNM 6 &# © HUSBQQSPY 6 " ϳ KNBUI 6  Ĺ MIBSE 6 #% ɜ
    FVSP 6 "$ ǿ HUSBSS 6  KPQG 6 %# и MIBSV 6 #$ ɛ
    FYDM 6   HUSEPU 6 % ̼ KTDS 6 %#' MIBSVM 6 "
    FYJTU 6  ʅ HUSFRMFTT 6 %# ̀ KTFSDZ 6  Ǔ MICML 6  Ι
    FYQFDUBUJPO 6  ȝ HUSFRRMFTT 6 "$ Ϲ KVLDZ 6  Ǐ MKDZ 6  ǔ
    FYQPOFOUJBMF 6  ȧ HUSMFTT 6  ˫ LBQQB 6 #" Ť MM 6 " ˞
    GBMMJOHEPUTFR 6  ˋ HUSTJN 6  ˧ LBQQBW 6 ' ź MMBSS 6 $ ɦ
    GDZ 6  ǀ I"SS 6 % ɳ LDFEJM 6  ð MMDPSOFS 6 & ͬ
    GFNBMF 6  λ IBJSTQ 6 " LDZ 6 " ƶ MMIBSE 6 #
    GGJMJH 6 '# К IBMG 6 #% { LGS 6 % MMUSJ 6 '" ε
    GGMJH 6 '# З IBNJMU 6 # Ȃ LHSFFO 6  ñ MNJEPU 6  ù
    GGMMJH 6 '# Л IBSEDZ 6 " dž LIDZ 6  ǁ MNPVTU 6 #
    GGS 6 % IBSS 6  ȹ LKDZ 6 $ Ǘ MNPVTUBDIF 6 #
    GJMJH 6 '# И IBSSDJS 6  LPQG 6 %$ й MO& 6  ˜

    
    *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB

    MOBQ 6 " ϶ NV 6 #$ Ŧ OTRTVQF 6 & ͆ QBSB 6 # t


    MOBQQSPY 6 " ϶ NVMUJNBQ 6 # ̧ OTVC 6  ˸ QBSBMMFM 6  ʟ
    MOF 6 " ϴ NVNBQ 6 # ̧ OTVCF 6  ˼ QBSTJN 6 "'
    MOFR 6 " ϴ O-FGUBSSPX 6 $% ɬ OTVCTFUFR 6  ˼ QBSTM 6 "'%
    MOFRR 6  ˜ O-FGUSJHIUBSSPX 6 $& ɭ OTVDD 6  ˵ QBSU 6  ʄ
    MOTJN 6 & ͇ O3JHIUBSSPX 6 $' ɮ OTVQ 6  ˹ QDZ 6 ' ƻ
    MPBOH 6 &$ O7%BTI 6 "' ̠ OTVQF 6  ˽ QFSDOU 6  
    MPBSS 6 '% ɿ O7EBTI 6 "& ̟ OTVQTFUFR 6  ˽ QFSJPE 6 & 
    MPCSL 6 & ό OBCMB 6  ʈ OUHM 6  ˭ QFSNJM 6  ǯ
    MPOHMFGUBSSPX 6 ' ϐ OBDVUF 6  ý OUJMEF 6 ' ¯ QFSQ 6 " ̗
    MPOHMFGUSJHIUBSSPX 6 ' ϒ OBQ 6  ˂ OUJMEF 6 ' ¯ QFSUFOL 6  ǰ
    MPOHNBQTUP 6 '$ ϖ OBQPT 6  Ă OUMH 6  ˬ QGS 6 %%
    MPOHSJHIUBSSPX 6 ' ϑ OBQQSPY 6  ˂ OUSJBOHMFMFGU 6 &" ͋ QIJ 6 $ Ű
    MPPQBSSPXMFGU 6 "# Ɏ OBUVS 6 & σ OUSJBOHMFMFGUFR 6 &$ ͍ QIJW 6 % Ŷ
    MPPQBSSPXSJHIU 6 "$ ɏ OBUVSBM 6 & σ OUSJBOHMFSJHIU 6 &# ͌ QINNBU 6  ȟ
    MPQBS 6  OBUVSBMT 6  ȋ OUSJBOHMFSJHIUFR 6 &% ͎ QIPOF 6 & κ
    MPQG 6 %% к OCTQ 6 " OV 6 #% ŧ QJ 6 $ Ū
    MPQMVT 6 "% OCTQ 6 " OVN 6   QJUDIGPSL 6 %
    MPUJNFT 6 " ODBQ 6 " OVNFSP 6  Ȍ QJW 6 % ŷ
    MPXBTU 6  ʔ ODBSPO 6  ā OVNTQ 6  ǚ QMBODL 6 ' Ȇ
    MPXCBS 6 ' @ ODFEJM 6  ÿ OW%BTI 6 "% ̞ QMBODLI 6 & ȅ
    MP[ 6 $" ή ODPOH 6  ˀ OW)BSS 6  QMBOLW 6 ' Ȇ
    MP[FOHF 6 $" ή ODVQ 6 " OWEBTI 6 "$ ̝ QMVT 6 #
    MP[G 6 &# ϛ ODZ 6 % ƹ OWJOGJO 6 %& QMVTBDJS 6 "
    MQBS 6  OEBTI 6  Ǡ OWM"SS 6  QMVTC 6 & ̐
    MQBSMU 6  OF 6  ˕ OWS"SS 6  QMVTDJS 6 "
    MSBSS 6 $ ɥ OF"SS 6 % ɶ OX"SS 6 % ɵ QMVTEP 6  ʒ
    MSDPSOFS 6 ' ͭ OFBSIL 6  OXBSIL 6  QMVTEV 6 "
    MSIBS 6 $# ɪ OFBSS 6  ȼ OXBSS 6  Ȼ QMVTF 6 "
    MSIBSE 6 % OFBSSPX 6  ȼ OXBSSPX 6  Ȼ QMVTNO 6 # o
    MSN 6 & ǝ OFRVJW 6  ˗ OXOFBS 6  QMVTNO 6 # o
    MSUSJ 6 #' ̭ OFTFBS 6  P4 6 $ QMVTTJN 6 "
    MTBRVP 6  ǵ OFYJTU 6  ʆ PBDVUF 6 ' ± QMVTUXP 6 "
    MTDS 6 %$ OFYJTUT 6  ʆ PBDVUF 6 ' ± QN 6 # o
    MTI 6 # ɒ OGS 6 %# PBTU 6 # ̎ QPJOUJOU 6 " Ϧ
    MTJN 6  ˦ OHF 6  ˥ PDJS 6 " ̍ QPQG 6 % о
    MTJNF 6 "% Ϻ OHFR 6  ˥ PDJSD 6 ' ² QPVOE 6 " b
    MTJNH 6 "' ϼ OHTJN 6  ˩ PDJSD 6 ' ² QPVOE 6 " b
    MTRC 6 # < OHU 6 ' ˣ PDZ 6 & ƺ QS 6 " ˮ
    MTRVP 6  Ǥ OHUS 6 ' ˣ PEBTI 6 % ̏ QS& 6 "# Џ
    MTRVPS 6 " Ǧ OI"SS 6 $& ɭ PECMBD 6  Ĉ QSBQ 6 "# Г
    MTUSPL 6  û OIBSS 6 "& ɑ PEJW 6 " QSDVF 6 $ ˰
    MU 6 $  OIQBS 6 "' PEPU 6  ̌ QSF 6 ""' Ѝ
    MU 6 $  OJ 6 # ʋ PETPME 6 #$ QSFD 6 " ˮ
    MUDD 6 "" OJT 6 '$ ͜ PFMJH 6  Ċ QSFDBQQSPY 6 "# Г
    MUDJS 6 " OJTE 6 '" ͚ PGDJS 6 #' QSFDDVSMZFR 6 $ ˰
    MUEPU 6 % ̻ OJW 6 # ʋ PGS 6 %$ QSFDFR 6 ""' Ѝ
    MUISFF 6 $# ̸ OKDZ 6 " Ǖ PHPO 6 %# Ŀ QSFDOBQQSPY 6 "# Е
    MUJNFT 6 $ ̶ OM"SS 6 $% ɬ PHSBWF 6 ' ° QSFDOFRR 6 "# Б
    MUMBSS 6  OMBSS 6 " ȿ PHSBWF 6 ' ° QSFDOTJN 6 & ͉
    MURVFTU 6 "# OMES 6  ǭ PHU 6 $ QSFDTJN 6 & ˲
    MUS1BS 6  OMF 6  ˤ PICBS 6 # QSJNF 6  DZ
    MUSJ 6 $ έ OMFGUBSSPX 6 " ȿ PIN 6 " Ś QSJNFT 6  ȏ
    MUSJF 6 # ̣ OMFGUSJHIUBSSPX 6 "& ɑ PJOU 6 & ʨ QSO& 6 "# Б
    MUSJG 6 $ ά OMFR 6  ˤ PMBSS 6 #" ə QSOBQ 6 "# Е
    MVSETIBS 6 " OMFTT 6 & ˢ PMDJS 6 #& QSOTJN 6 & ͉
    MVSVIBS 6  OMTJN 6  ˨ PMDSPTT 6 ## QSPE 6 ' ʍ
    N%%PU 6 " ʳ OMU 6 & ˢ PMJOF 6 & Ƿ QSPGBMBS 6 &
    NBDS 6 "' m OMUSJ 6 &" ͋ PMU 6 $ QSPGMJOF 6  
    NBDS 6 "' m OMUSJF 6 &$ ͍ PNBDS 6 % Ć QSPGTVSG 6 
    NBMF 6  μ ONJE 6  ʞ PNFHB 6 $ ų QSPQ 6 % ʗ
    NBMU 6  χ OPQG 6 %' м PNJDSPO 6 #' ũ QSPQUP 6 % ʗ
    NBMUFTF 6  χ OPU 6 "$ k PNJE 6 # QSTJN 6 & ˲
    NBQ 6 " Ɋ OPU 6 "$ k PNJOVT 6  ̉ QSVSFM 6 #
    NBQTUP 6 " Ɋ OPUJO 6  ʊ PPQG 6 % н QTDS 6 %$
    NBQTUPEPXO 6 " ɋ OPUJOWB 6  ʊ PQBS 6 # QTJ 6 $ Ų
    NBQTUPMFGU 6 " Ɉ OPUJOWC 6 ' ͘ PQFSQ 6 # QVODTQ 6 
    NBQTUPVQ 6 " ɉ OPUJOWD 6 ' ͗ PQMVT 6  ̈ RGS 6 %&
    NBSLFS 6 "& ΢ OPUOJ 6 $ ʌ PS 6  ʢ RJOU 6 "$ ϟ
    NDPNNB 6 " OPUOJWB 6 $ ʌ PSBSS 6 ## ɚ RPQG 6 % п
    NDZ 6 $ Ƹ OPUOJWC 6 '& ͞ PSE 6 "% RQSJNF 6  Ǽ
    NEBTI 6  ǡ OPUOJWD 6 '% ͝ PSEFS 6  Ƞ RTDS 6 %$
    NFBTVSFEBOHMF 6  ʛ OQBS 6  ʠ PSEFSPG 6  Ƞ RVBUFSOJPOT 6 % Ȅ
    NGS 6 %" OQBSBMMFM 6  ʠ PSEG 6 "" i RVBUJOU 6 " ϧ
    NIP 6  ȗ OQPMJOU 6 " ϥ PSEG 6 "" i RVFTU 6 '
    NJDSP 6 # s OQS 6  ˴ PSEN 6 #" x RVFTUFR 6 ' ˔
    NJDSP 6 # s OQSDVF 6 & ̓ PSEN 6 #" x RVPU 6  
    NJE 6  ʝ OQSFD 6  ˴ PSJHPG 6 # ̥ RVPU 6  
    NJEBTU 6 " OS"SS 6 $' ɮ PSPS 6 " S"BSS 6 %# ɺ
    NJEDJS 6 "' OSBSS 6 # ɀ PSTMPQF 6 " S"SS 6 % ɱ
    NJEEPU 6 # u OSJHIUBSSPX 6 # ɀ PSW 6 "# S"UBJM 6 $
    NJEEPU 6 # u OSUSJ 6 &# ͌ PTDS 6  Ƞ S#BSS 6 '
    NJOVT 6  ʐ OSUSJF 6 &% ͎ PTMBTI 6 ' ¶ S)BS 6 
    NJOVTC 6 ' ̑ OTD 6  ˵ PTMBTI 6 ' ¶ SBDVUF 6  Č
    NJOVTE 6  ʲ OTDDVF 6 & ̈́ PTPM 6  ̋ SBEJD 6 " ʖ
    NJOVTEV 6 "" OTDS 6 %$ PUJMEF 6 ' ³ SBFNQUZW 6 #
    NMDQ 6 "%# OTIPSUNJE 6  ʞ PUJMEF 6 ' ³ SBOH 6 &
    NMES 6  Ǯ OTIPSUQBSBMMFM 6  ʠ PUJNFT 6  ̊ SBOHE 6 
    NOQMVT 6  ʑ OTJN 6  ʺ PUJNFTBT 6 " SBOHF 6 "
    NPEFMT 6 " ̘ OTJNF 6  ʽ PVNM 6 ' ´ SBOHMF 6 &
    NPQG 6 %& л OTJNFR 6  ʽ PVNM 6 ' ´ SBRVP 6 ## y
    NQ 6  ʑ OTNJE 6  ʞ PWCBS 6 % SBRVP 6 ## y
    NTDS 6 %$ OTQBS 6  ʠ QBS 6  ʟ SBSS 6  ȷ
    NTUQPT 6 & ʷ OTRTVCF 6 & ͅ QBSB 6 # t SBSSBQ 6 

    
    *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB

    SBSSC 6 & ɽ TDF 6 "# Ў TVCQMVT 6 "#' USJBOHMFMFGUFR 6 # ̣


    SBSSCGT 6  TDFEJM 6 ' Ė TVCSBSS 6  USJBOHMFR 6 $ ˓
    SBSSD 6  TDJSD 6 % Ĕ TVCTFU 6  ˶ USJBOHMFSJHIU 6 # Ψ
    SBSSGT 6 & TDO& 6 "# В TVCTFUFR 6  ˺ USJBOHMFSJHIUFR 6 # ̤
    SBSSIL 6 "" ɍ TDOBQ 6 "#" Ж TVCTFUFRR 6 "$ USJEPU 6 &$ α
    SBSSMQ 6 "$ ɏ TDOTJN 6 & ͊ TVCTFUOFR 6 " ˾ USJF 6 $ ˓
    SBSSQM 6  TDQPMJOU 6 " Ϥ TVCTFUOFRR 6 "$# USJNJOVT 6 ""
    SBSSTJN 6  TDTJN 6 ' ˳ TVCTJN 6 "$ USJQMVT 6 "
    SBSSUM 6 " ɇ TDZ 6  ƽ TVCTVC 6 "% USJTC 6 $%
    SBSSX 6 % Ɂ TEPU 6 $ ̳ TVCTVQ 6 "% USJUJNF 6 "#
    SBUBJM 6 " TEPUC 6 " ̓ TVDD 6 # ˯ USQF[JVN 6 &
    SBUJP 6  ʰ TEPUF 6 " TVDDBQQSPY 6 "# Д UTDS 6 %$
    SBUJPOBMT 6 " Ȑ TF"SS 6 % ɷ TVDDDVSMZFR 6 % ˱ UTDZ 6  ǂ
    SCBSS 6 % TFBSIL 6  TVDDFR 6 "# Ў UTIDZ 6 # ǖ
    SCCSL 6  ϋ TFBSS 6  Ƚ TVDDOBQQSPY 6 "#" Ж UTUSPL 6  Ğ
    SCSBDF 6 % ^ TFBSSPX 6  Ƚ TVDDOFRR 6 "# В UXJYU 6 $ ˠ
    SCSBDL 6 % > TFDU 6 " f TVDDOTJN 6 & ͊ UXPIFBEMFGUBSSPX 6 & ɂ
    SCSLF 6 $ TFDU 6 " f TVDDTJN 6 ' ˳ UXPIFBESJHIUBSSPX 6 " Ʉ
    SCSLTME 6 & TFNJ 6 #  TVN 6  ʏ V"SS 6 % ɰ
    SCSLTMV 6  TFTXBS 6  TVOH 6 " ρ V)BS 6 
    SDBSPO 6  Đ TFUNJOVT 6  ʓ TVQ 6 # w VBDVUF 6 '" ¸
    SDFEJM 6  Ď TFUNO 6  ʓ TVQ 6 # w VBDVUF 6 '" ¸
    SDFJM 6  ͢ TFYU 6  ψ TVQ 6 # p VBSS 6  ȶ
    SDVC 6 % ^ TGS 6 % TVQ 6 # p VCSDZ 6 & ǘ
    SDZ 6  Ƽ TGSPXO 6  TVQ 6 # q VCSFWF 6 % Ĥ
    SEDB 6  TIBSQ 6 ' τ TVQ 6 # q VDJSD 6 '# ¹
    SEMEIBS 6  TIDIDZ 6  Dž TVQ 6  ˷ VDJSD 6 '# ¹
    SERVP 6 % Ǩ TIDZ 6  DŽ TVQ& 6 "$ VDZ 6  ƿ
    SERVPS 6 % Ǩ TIPSUNJE 6  ʝ TVQEPU 6 "#& VEBSS 6 $ ɤ
    SETI 6 # ɕ TIPSUQBSBMMFM 6  ʟ TVQETVC 6 "% VECMBD 6  Ĩ
    SFBM 6 $ Ȓ TIZ 6 "% TVQF 6  ˻ VEIBS 6 &
    SFBMJOF 6 # ȑ TIZ 6 "% TVQFEPU 6 "$ VGJTIU 6 &
    SFBMQBSU 6 $ Ȓ TJHNB 6 $ ŭ TVQITPM 6 $ VGS 6 %
    SFBMT 6 % ȓ TJHNBG 6 $ Ŭ TVQITVC 6 "% VHSBWF 6 ' ·
    SFDU 6 "% Ρ TJHNBW 6 $ Ŭ TVQMBSS 6 # VHSBWF 6 ' ·
    SFH 6 "& l TJN 6 $ ʵ TVQNVMU 6 "$ VIBSM 6 #' ɞ
    SFH 6 "& l TJNEPU 6 "" TVQO& 6 "$$ VIBSS 6 #& ɝ
    SGJTIU 6 % TJNF 6  ʼ TVQOF 6 # ˿ VICML 6  Θ
    SGMPPS 6 # ͤ TJNFR 6  ʼ TVQQMVT 6 "$ VMDPSO 6 $ ͪ
    SGS 6 %' TJNH 6 "& Љ TVQTFU 6  ˷ VMDPSOFS 6 $ ͪ
    SIBSE 6 $ ɠ TJNH& 6 "" Ћ TVQTFUFR 6  ˻ VMDSPQ 6 ' ͨ
    SIBSV 6 $ ɟ TJNM 6 "% Ј TVQTFUFRR 6 "$ VMUSJ 6 ' γ
    SIBSVM 6 $ TJNM& 6 "' Њ TVQTFUOFR 6 # ˿ VNBDS 6 # Ģ
    SIP 6 $ ū TJNOF 6  ʿ TVQTFUOFRR 6 "$$ VNM 6 " g
    SIPW 6 ' Ż TJNQMVT 6 " TVQTJN 6 "$ VNM 6 " g
    SJHIUBSSPX 6  ȷ TJNSBSS 6  TVQTVC 6 "% VPHPO 6  Ī
    SJHIUBSSPXUBJM 6 " ɇ TMBSS 6  ȵ TVQTVQ 6 "% VPQG 6 % у
    SJHIUIBSQPPOEPXO 6 $ ɠ TNBMMTFUNJOVT 6  ʓ TX"SS 6 % ɸ VQBSSPX 6  ȶ
    SJHIUIBSQPPOVQ 6 $ ɟ TNBTIQ 6 " TXBSIL 6  VQEPXOBSSPX 6  Ⱥ
    SJHIUMFGUBSSPXT 6 $ ɣ TNFQBSTM 6 & TXBSS 6  Ⱦ VQIBSQPPOMFGU 6 #' ɞ
    SJHIUMFGUIBSQPPOT 6 $$ ɫ TNJE 6  ʝ TXBSSPX 6  Ⱦ VQIBSQPPOSJHIU 6 #& ɝ
    SJHIUSJHIUBSSPXT 6 $ ɨ TNJMF 6  TXOXBS 6 " VQMVT 6 & ́
    SJHIUTRVJHBSSPX 6 % Ɂ TNU 6 """ T[MJH 6 %'  VQTJ 6 $ ů
    SJHIUUISFFUJNFT 6 $$ ̹ TNUF 6 ""$ T[MJH 6 %'  VQTJI 6 % ŵ
    SJOH 6 %" ľ TPGUDZ 6 $ Lj UBSHFU 6  VQTJMPO 6 $ ů
    SJTJOHEPUTFR 6  ˌ TPM 6 '  UBV 6 $ Ů VQVQBSSPXT 6 $ ɧ
    SMBSS 6 $ ɣ TPMC 6 $ UCSL 6 # VSDPSO 6 % ͫ
    SMIBS 6 $$ ɫ TPMCBS 6 ' UDBSPO 6  Ĝ VSDPSOFS 6 % ͫ
    SMN 6 ' Ǟ TPQG 6 % с UDFEJM 6  Ě VSDSPQ 6 & ͧ
    SNPVTU 6 # TQBEFT 6  ν UDZ 6  ƾ VSJOH 6 ' Ħ
    SNPVTUBDIF 6 # TQBEFTVJU 6  ν UEPU 6 %# ΰ VSUSJ 6 ' δ
    SONJE 6 "&& TQBS 6  ʟ UFMSFD 6  VTDS 6 %$"
    SPBOH 6 &% TRDBQ 6  ̆ UGS 6 % VUEPU 6 ' ͑
    SPBSS 6 '& ʀ TRDVQ 6  ̇ UIFSF 6  ʮ VUJMEF 6  Ġ
    SPCSL 6 & ύ TRTVC 6 ' ̂ UIFSFGPSF 6  ʮ VUSJ 6 # Φ
    SPQBS 6  TRTVCF 6  ̄ UIFUB 6 # Ţ VUSJG 6 # Υ
    SPQG 6 % р TRTVCTFU 6 ' ̂ UIFUBTZN 6 % Ŵ VVBSS 6 $ ɧ
    SPQMVT 6 "& TRTVCTFUFR 6  ̄ UIFUBW 6 % Ŵ VVNM 6 '$ º
    SPUJNFT 6 " TRTVQ 6  ̃ UIJDLBQQSPY 6  ˁ VVNM 6 '$ º
    SQBS 6 
    TRTVQF 6  ̅ UIJDLTJN 6 $ ʵ VXBOHMF 6 "
    SQBSHU 6  TRTVQTFU 6  ̃ UIJOTQ 6  W"SS 6 % ɴ
    SQQPMJOU 6 " ϣ TRTVQTFUFR 6  ̅ UILBQ 6  ˁ W#BS 6 "&
    SSBSS 6 $ ɨ TRV 6 " Ξ UILTJN 6 $ ʵ W#BSW 6 "&
    STBRVP 6 " Ƕ TRVBSF 6 " Ξ UIPSO 6 '& ¼ W%BTI 6 " ̙
    STDS 6 %$ TRVBSG 6 "" Ο UIPSO 6 '& ¼ WBOHSU 6 $
    STI 6 # ɓ TRVG 6 "" Ο UJMEF 6 %$ ŀ WBSFQTJMPO 6 ' ż
    STRC 6 % > TSBSS 6  ȷ UJNFT 6 % • WBSLBQQB 6 ' ź
    STRVP 6  ǥ TTDS 6 %$ UJNFT 6 % • WBSOPUIJOH 6  ʇ
    STRVPS 6  ǥ TTFUNO 6  ʓ UJNFTC 6 " ̒ WBSQIJ 6 % Ŷ
    SUISFF 6 $$ ̹ TTNJMF 6  UJNFTCBS 6 " WBSQJ 6 % ŷ
    SUJNFT 6 $" ̷ TTUBSG 6 $ ̴ UJNFTE 6 " WBSQSPQUP 6 % ʗ
    SUSJ 6 # Ψ TUBS 6  ι UJOU 6 % ʧ WBSS 6  Ⱥ
    SUSJF 6 # ̤ TUBSG 6  θ UPFB 6  WBSSIP 6 ' Ż
    SUSJG 6 # Χ TUSBJHIUFQTJMPO 6 ' ż UPQ 6 " ̖ WBSTJHNB 6 $ Ŭ
    SUSJMUSJ 6 $& Ϙ TUSBJHIUQIJ 6 % Ŷ UPQCPU 6  WBSUIFUB 6 % Ŵ
    SVMVIBS 6  TUSOT 6 "' m UPQDJS 6 "' WBSUSJBOHMFMFGU 6 # ̡
    SY 6 & Ȕ TVC 6  ˶ UPQG 6 % т WBSUSJBOHMFSJHIU 6 # ̢
    TBDVUF 6 # Ē TVC& 6 "$ UPQGPSL 6 "%" WDZ 6  Ʈ
    TCRVP 6 " Ǧ TVCEPU 6 "#% UPTB 6  WEBTI 6 " ̔
    TD 6 # ˯ TVCF 6  ˺ UQSJNF 6  dz WFF 6  ʢ
    TD& 6 "# А TVCFEPU 6 "$ USBEF 6  ȕ WFFCBS 6 ## ̪
    TDBQ 6 "# Д TVCNVMU 6 "$ USJBOHMF 6 # Φ WFFFR 6 " ˒
    TDBSPO 6  Ę TVCO& 6 "$# USJBOHMFEPXO 6 #' Ϋ WFMMJQ 6 && ͏
    TDDVF 6 % ˱ TVCOF 6 " ˾ USJBOHMFMFGU 6 $ έ WFSCBS 6 $ ]

    
    *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB *;G? B;L;=N?L #FSJB

    WFSU 6 $ ] XTDS 6 %$$ YSBSS 6 ' ϑ ZVDZ 6 & NJ


    WGS 6 % YDBQ 6 $ ̰ YTDS 6 %$% ZVNM 6 '' ½
    WMUSJ 6 # ̡ YDJSD 6 &' β YTRDVQ 6 " ZVNM 6 '' ½
    WPQG 6 % ф YDVQ 6 $ ̱ YVQMVT 6 " [BDVUF 6 " ı
    WQSPQ 6 % ʗ YEUSJ 6 #% Ω YVUSJ 6 # Τ [DBSPO 6 & ĵ
    WSUSJ 6 # ̢ YGS 6 % YWFF 6 $ ̯ [DZ 6  Ƴ
    WTDS 6 %$# YI"SS 6 '" ϕ YXFEHF 6 $ ̮ [EPU 6 $ ij
    W[JH[BH 6 " YIBSS 6 ' ϒ ZBDVUF 6 '% » [FFUSG 6  Ș
    XDJSD 6  Ĭ YJ 6 #& Ũ ZBDVUF 6 '% » [FUB 6 # Š
    XFECBS 6 "' YM"SS 6 ' ϓ ZBDZ 6 ' Nj [GS 6 %
    XFEHF 6  ʡ YMBSS 6 ' ϐ ZDJSD 6  Į [IDZ 6  Ʋ
    XFEHFR 6  ˑ YNBQ 6 '$ ϖ ZDZ 6 # LJ [JHSBSS 6 %% ɻ
    XFJFSQ 6  Ȏ YOJT 6 '# ͛ ZFO 6 " d [PQG 6 %# ш
    XGS 6 % YPEPU 6 " Ϝ ZFO 6 " d [TDS 6 %$'
    XPQG 6 % х YPQG 6 % ц ZGS 6 % [XK 6 % ǜ
    XQ 6  Ȏ YPQMVT 6 " ϝ ZJDZ 6  ǒ [XOK 6 $ Ǜ
    XS 6  ʹ YPUJNF 6 " Ϟ ZPQG 6 %" ч
    XSFBUI 6  ʹ YS"SS 6 ' ϔ ZTDS 6 %$&

    *746;H?7B38B?;0H4301>E40A4=>==>A<0C8E4 (454AC>C74+=82>34B?428P20C8>=B5>A5>A<0;34P=8C8>=B>5C74
    270A02C4AB;8BC4301>E4

    
     0B?4$0)(MSHN;R

    *HM> 0ABLL><MBHGHGER=>L<KB;>LMA>KNE>L?HK4)(K>LHNK<>L .NE>L?HK M>QMAMFE I K>LHNK<>L:K>


    =BL<NLL>=BGMA>L><MBHG:;HO>>GMBME>=0A>$0)(LRGM:Q I 

      3LCNCHA4$0)(>I=OG?HNM

    5IFTZOUBYGPSVTJOH)5.-XJUI9.- XIFUIFSJO9)5.-EPDVNFOUTPSFNCFEEFEJOPUIFS9.-EPDVNFOUT JTEFИOFE


    JOUIF9.-BOE/BNFTQBDFTJO9.-TQFDJИDBUJPOT <9.-> Q <9.-/4> Q

    5IJTTQFDJИDBUJPOEPFTOPUEFИOFBOZTZOUBYMFWFMSFRVJSFNFOUTCFZPOEUIPTFEFИOFEGPS9.-QSPQFS

    9.-EPDVNFOUTNBZDPOUBJOB %0$5:1& JGEFTJSFE CVUUIJTJTOPUSFRVJSFEUPDPOGPSNUPUIJTTQFDJИDBUJPO5IJT


    TQFDJИDBUJPOEPFTOPUEFИOFBQVCMJDPSTZTUFNJEFOUJИFS OPSQSPWJEFBGPSNBU%5%

    *HM> <<HK=BG@MHMA>4)(LI><B[<:MBHG 4)(IKH<>LLHKL:K>GHM@N:K:GM>>=MHIKH<>LLMA>


    >QM>KG:E 0 LN;L>MK>?>K>G<>=BGMA> +05,! 0ABLF>:GL ?HK>Q:FIE> MA:MNLBG@>GMBMR
    K>?>K>G<>L?HK<A:K:<M>KLBG4$0)(=H<NF>GMLBLNGL:?>B?MA>R:K>=>[G>=BG:G>QM>KG:E[E>
    >Q<>IM?HK EM @M :FI JNHM :G= :IHL

      ,;LMCHA4$0)(>I=OG?HNM

    5IJTTFDUJPOEFTDSJCFTUIFSFMBUJPOTIJQCFUXFFO9.-BOEUIF%0. XJUIBQBSUJDVMBSFNQIBTJTPOIPXUIJTJOUFSBDUT
    XJUI)5.-

    "O 4)(J;LM?L GPSUIFQVSQPTFTPGUIJTTQFDJИDBUJPO JTBDPOTUSVDUUIBUGPMMPXTUIFSVMFTHJWFOJOUIF9.-


    TQFDJИDBUJPOUPNBQBTUSJOHPGCZUFTPSDIBSBDUFSTJOUPB %PDVNFOU Q PCKFDU

    "O 9.-QBSTFS Q JTFJUIFSBTTPDJBUFEXJUIB %PDVNFOU Q PCKFDUXIFOJUJTDSFBUFE PSDSFBUFTPOFJNQMJDJUMZ

    5IJT %PDVNFOU Q NVTUUIFOCFQPQVMBUFEXJUI%0.OPEFTUIBUSFQSFTFOUUIFUSFFTUSVDUVSFPGUIFJOQVUQBTTFEUPUIF


    QBSTFS BTEFИOFECZUIF9.-TQFDJИDBUJPO UIF/BNFTQBDFTJO9.-TQFDJИDBUJPO BOEUIF%0.$PSFTQFDJИDBUJPO
    %0.NVUBUJPOFWFOUTNVTUOPUИSFGPSUIFPQFSBUJPOTUIBUUIF 9.-QBSTFS Q QFSGPSNTPOUIF %PDVNFOU Q TUSFF CVU
    UIFVTFSBHFOUNVTUBDUBTJGFMFNFOUTBOEBUUSJCVUFTXFSFJOEJWJEVBMMZBQQFOEFEBOETFUSFTQFDUJWFMZTPBTUPUSJHHFS
    SVMFTJOUIJTTQFDJИDBUJPOSFHBSEJOHXIBUIBQQFOTXIFOBOFMFNFOUJOJOTFSUFEJOUPBEPDVNFOUPSIBTJUTBUUSJCVUFT
    TFU <9.-> Q <9.-/4> Q <%0.$03&> Q <%0.&7&/54> Q

    #FUXFFOUIFUJNFBOFMFNFOUTTUBSUUBHJTQBSTFEBOEUIFUJNFFJUIFSUIFFMFNFOUTFOEUBHJTQBSTFEPOUIFQBSTFS
    EFUFDUTBXFMMGPSNFEOFTTFSSPS UIFVTFSBHFOUNVTUBDUBTJGUIFFMFNFOUXBTJOB TUBDLPGPQFOFMFNFOUT Q 

    *HM> 0ABLBLNL>=;RMA> H;C><M I >E>F>GMMH:OHB=BGLM:GMB:MBG@IEN@BGL;>?HK>MA> I:K:F I


    >E>F>GM<ABE=K>GA:O>;>>GI:KL>=

    5IJTTQFDJИDBUJPOQSPWJEFTUIFGPMMPXJOHBEEJUJPOBMJOGPSNBUJPOUIBUVTFSBHFOUTTIPVMEVTFXIFOSFUSJFWJOHBOFYUFSOBM
    FOUJUZUIFQVCMJDJEFOUJИFSTHJWFOJOUIFGPMMPXJOHMJTUBMMDPSSFTQPOEUP UIF63-HJWFOCZUIJTMJOL

    Ǭ 8$%5% 9)5.-  5SBOTJUJPOBM&/


    Ǭ 8$%5% 9)5.- &/
    Ǭ 8$%5% 9)5.-  4USJDU&/
    Ǭ 8$%5% 9)5.-  'SBNFTFU&/
    Ǭ 8$%5% 9)5.- #BTJD &/
    Ǭ 8$%5% 9)5.-  QMVT .BUI.- &/
    Ǭ 8$%5% 9)5.-  QMVT .BUI.-  QMVT 47( &/
    Ǭ 8$%5% .BUI.- &/
    Ǭ 8"1'036.%5% 9)5.- .PCJMF &/

    'VSUIFSNPSF VTFSBHFOUTTIPVMEBUUFNQUUPSFUSJFWFUIFBCPWFFYUFSOBMFOUJUZTDPOUFOUXIFOPOFPGUIFBCPWFQVCMJD
    JEFOUJИFSTJTVTFE BOETIPVMEOPUBUUFNQUUPSFUSJFWFBOZPUIFSFYUFSOBMFOUJUZTDPOUFOU

    *HM> 0ABLBLGHMLMKB<MER: OBHE:MBHG I H?MA>4)(LI><B[<:MBHG ;NMBM=H>L<HGMK:=B<MMA>LIBKBMH?


    MA>4)(LI><B[<:MBHGLK>JNBK>F>GML 0ABLBLFHMBO:M>=;R:=>LBK>?HKNL>K:@>GMLMH:EEA:G=E>
    >GMBMB>LBG:GBGM>KHI>K:;E>?:LABHGPBMAHNMK>JNBKBG@:GRG>MPHKD:<<>LL?HKA:G=EBG@>QM>KG:E
    LN;L>ML 74)(8 I

    
    8IFOBO 9.-QBSTFS Q DSFBUFTB TDSJQU Q FMFNFOU JUNVTUCFNBSLFEBTCFJOH QBSTFSJOTFSUFE Q *GUIFQBSTFS
    XBTPSJHJOBMMZDSFBUFEGPSUIF 9.-GSBHNFOUQBSTJOHBMHPSJUIN Q UIFOUIFFMFNFOUNVTUCFNBSLFEBT BMSFBEZ
    TUBSUFE Q BMTP8IFOUIFFMFNFOUTFOEUBHJTQBSTFE UIFVTFSBHFOUNVTU SVO Q UIF TDSJQU Q FMFNFOU*GUIJT
    DBVTFTUIFSFUPCFB QFOEJOHQBSTJOHCMPDLJOHTDSJQU Q UIFOUIFVTFSBHFOUNVTUSVOUIFGPMMPXJOHTUFQT

     #MPDLUIJTJOTUBODFPGUIF 9.-QBSTFS Q TVDIUIBUUIF FWFOUMPPQ Q XJMMOPUSVO UBTLT Q UIBUJOWPLFJU

     4QJOUIFFWFOUMPPQ Q VOUJMUIFSFJTOP TUZMFTIFFUCMPDLJOHTDSJQUT Q BOEUIF QFOEJOHQBSTJOHCMPDLJOH


    TDSJQU Q T SFBEZUPCFQBSTFSFYFDVUFE Q ЙBHJTTFU

     6OCMPDLUIJTJOTUBODFPGUIF 9.-QBSTFS Q TVDIUIBU UBTLT Q UIBUJOWPLFJUDBOBHBJOCFSVO

     &YFDVUF Q UIF QFOEJOHQBSTJOHCMPDLJOHTDSJQU Q 

     5IFSFJTOPMPOHFSB QFOEJOHQBSTJOHCMPDLJOHTDSJQU Q 

    *HM> /BG<>MA> =H<NF>GM PKBM> I ,%BLGHM:O:BE:;E>?HK 4)(=H<NF>GML I FN<AH?MA>


    <HFIE>QBMRBGMA> $0)(I:KL>K I BLGHMG>>=>=BGMA> 4)(I:KL>K I

    $FSUBJOBMHPSJUINTJOUIJTTQFDJИDBUJPO MJIIH @??>NB?J;LM?L DIBSBDUFSTPOFTUSJOHBUBUJNF*OTVDIDBTFT UIF


    9.-QBSTFS Q NVTUBDUBTJUXPVMEIBWFJGGBDFEXJUIBTJOHMFTUSJOHDPOTJTUJOHPGUIFDPODBUFOBUJPOPGBMMUIPTF
    DIBSBDUFST

    8IFOBO 9.-QBSTFS Q SFBDIFTUIFFOEPGJUTJOQVU JUNVTU TUPQQBSTJOH Q GPMMPXJOHUIFTBNFSVMFTBTUIF )5.-


    QBSTFS Q 

    'PSUIFQVSQPTFTPGDPOGPSNBODFDIFDLFST JGBSFTPVSDFJTEFUFSNJOFEUPCFJO UIF9)5.-TZOUBY Q UIFOJUJTBO 9.-


    EPDVNFOU Q 

      /?LC;FCTCHA4$0)(@L;AG?HNM

    5IF 4)(@L;AG?HNM?LC;FCT;NCIH;FAILCNBG GPSB %PDVNFOU Q PS &MFNFOU Q OPEFFJUIFSSFUVSOTBGSBHNFOUPG9.-


    UIBUSFQSFTFOUTUIBUOPEFPSSBJTFTBOFYDFQUJPO

    'PS %PDVNFOU Q T UIFBMHPSJUINNVTUSFUVSOBTUSJOHJOUIFGPSNPGB EPDVNFOUFOUJUZ JGOPOFPGUIFFSSPSDBTFTCFMPX


    BQQMZ

    'PS &MFNFOU Q T UIFBMHPSJUINNVTUSFUVSOBTUSJOHJOUIFGPSNPGBO JOUFSOBMHFOFSBMQBSTFEFOUJUZ JGOPOFPGUIFFSSPS


    DBTFTCFMPXBQQMZ

    *OCPUIDBTFT UIFTUSJOHSFUVSOFENVTUCF9.-OBNFTQBDFXFMMGPSNFEBOENVTUCFBOJTPNPSQIJDTFSJBMJ[BUJPOPGBMM
    PGUIBUOPEFTDIJMEOPEFT JO USFFPSEFS Q 6TFSBHFOUTNBZBEKVTUQSFИYFTBOEOBNFTQBDFEFDMBSBUJPOTJOUIF
    TFSJBMJ[BUJPO BOEJOEFFENJHIUCFGPSDFEUPEPTPJOTPNFDBTFTUPPCUBJOOBNFTQBDFXFMMGPSNFE9.-
    6TFSBHFOUT
    NBZVTFBDPNCJOBUJPOPGSFHVMBSUFYU DIBSBDUFSSFGFSFODFT BOE$%"5"TFDUJPOTUPSFQSFTFOU UFYUOPEFT Q JOUIF
    %0. BOEJOEFFENJHIUCFGPSDFEUPVTFSFQSFTFOUBUJPOTUIBUEPOUNBUDIUIF%0.T FHJGB $%"5"4FDUJPO Q OPEF
    DPOUBJOTUIFTUSJOH>>
    

    'PS &MFNFOU Q T JGBOZPGUIFFMFNFOUTJOUIFTFSJBMJ[BUJPOBSFJOOPOBNFTQBDF UIFEFGBVMUOBNFTQBDFJOTDPQFGPS


    UIPTFFMFNFOUTNVTUCFFYQMJDJUMZEFDMBSFEBTUIFFNQUZTUSJOH 5IJTEPFTOUBQQMZJOUIF %PDVNFOU Q DBTF
    <9.-> Q
    <9.-/4> Q

    'PSUIFQVSQPTFTPGUIJTTFDUJPO BOJOUFSOBMHFOFSBMQBSTFEFOUJUZJTDPOTJEFSFE9.-OBNFTQBDFXFMMGPSNFEJGB
    EPDVNFOUDPOTJTUJOHPGBOFMFNFOUXJUIOPOBNFTQBDFEFDMBSBUJPOTXIPTFDPOUFOUTBSFUIFJOUFSOBMHFOFSBMQBSTFE
    FOUJUZXPVMEJUTFMGCF9.-OBNFTQBDFXFMMGPSNFE

    *GBOZPGUIFGPMMPXJOHFSSPSDBTFTBSFGPVOEJOUIF%0.TVCUSFFCFJOHTFSJBMJ[FE UIFOUIFBMHPSJUINNVTUSBJTFBO
    */7"-*%@45"5&@&33 Q FYDFQUJPOJOTUFBEPGSFUVSOJOHBTUSJOH

    Ǭ " %PDVNFOU Q OPEFXJUIOPDIJMEFMFNFOUOPEFT

    Ǭ " %PDVNFOU5ZQF Q OPEFUIBUIBTBOFYUFSOBMTVCTFUQVCMJDJEFOUJИFSUIBUDPOUBJOTDIBSBDUFSTUIBUBSFOPU


    NBUDIFECZUIF9.- 1VCJE$IBS QSPEVDUJPO <9.-> Q

    Ǭ " %PDVNFOU5ZQF Q OPEFUIBUIBTBOFYUFSOBMTVCTFUTZTUFNJEFOUJИFSUIBUDPOUBJOTCPUIB6 


    2605"5*0/."3, 
    BOEB6 "1045301)& 
    PSUIBUDPOUBJOTDIBSBDUFSTUIBUBSFOPUNBUDIFECZ
    UIF9.- $IBS QSPEVDUJPO <9.-> Q

    
    Ǭ "OPEFXJUIBMPDBMOBNFDPOUBJOJOHB6 "$0-0/ 
    

    Ǭ "OPEFXJUIBMPDBMOBNFUIBUEPFTOPUNBUDIUIF9.- /BNF QSPEVDUJPO <9.-> Q

    Ǭ "O "UUS Q OPEFXJUIOPOBNFTQBDFXIPTFMPDBMOBNFJTUIFMPXFSDBTFTUSJOHYNMOT <9.-/4> Q

    Ǭ "O &MFNFOU Q OPEFXJUIUXPPSNPSFBUUSJCVUFTXJUIUIFTBNFMPDBMOBNFBOEOBNFTQBDF

    Ǭ "O "UUS Q OPEF 5FYU Q OPEF $%"5"4FDUJPO Q OPEF $PNNFOU Q OPEF PS 1SPDFTTJOH*OTUSVDUJPO Q OPEF
    XIPTFEBUBDPOUBJOTDIBSBDUFSTUIBUBSFOPUNBUDIFECZUIF9.- $IBS QSPEVDUJPO <9.-> Q

    Ǭ " $PNNFOU Q OPEFXIPTFEBUBDPOUBJOTUXPBEKBDFOU6 %):1)&/.*/64DIBSBDUFST 


    PSFOETXJUI
    TVDIBDIBSBDUFS

    Ǭ " 1SPDFTTJOH*OTUSVDUJPO Q OPEFXIPTFUBSHFUOBNFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOH


    YNM

    Ǭ " 1SPDFTTJOH*OTUSVDUJPO Q OPEFXIPTFUBSHFUOBNFDPOUBJOTB6 "$0-0/ 


    

    Ǭ " 1SPDFTTJOH*OTUSVDUJPO Q OPEFXIPTFEBUBDPOUBJOTUIFTUSJOH 

    *HM> 0A>L>:K>MA>HGERP:RLMHF:D>: +)NGL>KB:EBS:;E> 0A> +)>G?HK<>L:EEMA>HMA>K4)(


    <HGLMK:BGML?HK>Q:FIE> MKRBG@MH:II>G=MPH>E>F>GMLMH: #H<NF>GM I GH=>PBEEK:BL>:
    '($0 0"'790$/3$129$00 I >Q<>IMBHG

      ,;LMCHA4$0)(@L;AG?HNM

    5IF 4)(@L;AG?HNJ;LMCHA;FAILCNBG GPSFJUIFSSFUVSOTB %PDVNFOU Q PSSBJTFTB 4:/5"9@&33 Q FYDFQUJPO(JWFOB


    TUSJOH 8=?DC BOEBOPQUJPOBMDPOUFYUFMFNFOU 2>=C4GC UIFBMHPSJUINJTBTGPMMPXT

     $SFBUFBOFX 9.-QBSTFS Q 

     *GUIFSFJTB 2>=C4GC FMFNFOU GFFEUIFQBSTFS Q KVTUDSFBUFEUIFTUSJOHDPSSFTQPOEJOHUPUIFTUBSUUBHPGUIBU


    FMFNFOU EFDMBSJOHBMMUIFOBNFTQBDFQSFИYFTUIBUBSFJOTDPQFPOUIBUFMFNFOUJOUIF%0. BTXFMMBT
    EFDMBSJOHUIFEFGBVMUOBNFTQBDF JGBOZ
    UIBUJTJOTDPQFPOUIBUFMFNFOUJOUIF%0.

    "OBNFTQBDFQSFИYJTJOTDPQFJGUIF%0.$PSF MPPLVQ/BNFTQBDF63*
    NFUIPEPOUIFFMFNFOUXPVME
    SFUVSOBOPOOVMMWBMVFGPSUIBUQSFИY

    5IFEFGBVMUOBNFTQBDFJTUIFOBNFTQBDFGPSXIJDIUIF%0.$PSF JT%FGBVMU/BNFTQBDF
    NFUIPEPOUIF
    FMFNFOUXPVMESFUVSOUSVF

    *HM> %?MA>K>BL: <HGM>QM >E>F>GM GH #-"27.$ BLI:LL>=MHMA>I:KL>K :G=MA>K>?HK>GH


    >QM>KG:ELN;L>MBLK>?>K>G<>= :G=MA>K>?HK>GH>GMBMB>LPBEE;>K><H@GBS>=

     'FFEUIFQBSTFS Q KVTUDSFBUFEUIFTUSJOH 8=?DC

     *GUIFSFJTB 2>=C4GC FMFNFOU GFFEUIFQBSTFS Q KVTUDSFBUFEUIFTUSJOHDPSSFTQPOEJOHUPUIFFOEUBHPGUIBU


    FMFNFOU

     *GUIFSFJTBO9.-XFMMGPSNFEOFTTPS9.-OBNFTQBDFXFMMGPSNFEOFTTFSSPS UIFOSBJTFB 4:/5"9@&33 Q


    FYDFQUJPOBOEBCPSUUIFTFTUFQT

     *GUIFSFJTB 2>=C4GC FMFNFOU UIFOSFUVSOUIFDIJMEOPEFTPGUIFSPPUFMFNFOUPGUIFSFTVMUJOH %PDVNFOU Q JO


    USFFPSEFS Q 

    0UIFSXJTF SFUVSOUIFDIJMESFOPGUIF %PDVNFOU Q PCKFDU JO USFFPSEFS Q 

    
     .?H>?LCHA
    +B4A064=CB0A4=>CA4@D8A43C>?A4B4=C*#"3>2D<4=CB8=0=H?0AC82D;0AF0H >F4E4AC78BB42C8>=?A>E834B0B4C>5
    BD664BC8>=B5>AA4=34A8=6*#"3>2D<4=CBC70C855>;;>F430A4;8:4;HC>;403C>0DB4A4G?4A84=24C70C2;>B4;H
    A4B4<1;4BC744G?4A84=248=C4=3431HC743>2D<4=CB0DC7>AB )>0BC>0E>832>=5DB8>=A460A38=6C74=>A<0C8E8CH>5
    C78BB42C8>=( C4A<B70E4=>C144=DB43 =BC403C74C4A<4G?42C438BDB43C>8=3820C41470E8>AC70CF8;;
    ;403C>C78B4G?4A84=24

      %HNLI>O=NCIH

    *OHFOFSBM VTFSBHFOUTBSFFYQFDUFEUPTVQQPSU$44 BOENBOZPGUIFTVHHFTUJPOTJOUIJTTFDUJPOBSFFYQSFTTFEJO$44


    UFSNT6TFSBHFOUTUIBUVTFPUIFSQSFTFOUBUJPONFDIBOJTNTDBOEFSJWFUIFJSFYQFDUFECFIBWJPSCZUSBOTMBUJOHGSPN
    UIF$44SVMFTHJWFOJOUIJTTFDUJPO

    *OUIFBCTFODFPGTUZMFMBZFSSVMFTUPUIFDPOUSBSZ FHBVUIPSTUZMFTIFFUT
    VTFSBHFOUTBSFFYQFDUFEUPSFOEFSBO
    FMFNFOUTPUIBUJUDPOWFZTUPUIFVTFSUIFNFBOJOHUIBUUIFFMFNFOU L?JL?M?HNM BTEFTDSJCFECZUIJTTQFDJИDBUJPO

    5IFTVHHFTUJPOTJOUIJTTFDUJPOHFOFSBMMZBTTVNFBWJTVBMPVUQVUNFEJVNXJUIBSFTPMVUJPOPGEQJPSHSFBUFS CVU
    )5.-JTJOUFOEFEUPBQQMZUPNVMUJQMFNFEJB JUJTB <43808=34?4=34=C MBOHVBHF
    6TFSBHFOUTBSFFODPVSBHFEUP
    BEBQUUIFTVHHFTUJPOTJOUIJTTFDUJPOUPUIFJSUBSHFUNFEJB

    "OFMFNFOUJT <?CHAL?H>?L?> JGJUJT JOB %PDVNFOU Q FJUIFSJUTQBSFOUOPEFJTJUTFMG CFJOHSFOEFSFE Q PSJUJTUIF
    %PDVNFOU Q OPEF BOEJUJTOPUFYQMJDJUMZFYDMVEFEGSPNUIFSFOEFSJOHVTJOHFJUIFS

    Ǭ UIF$44EJTQMBZQSPQFSUZTOPOFWBMVF PS
    Ǭ UIFWJTJCJMJUZQSPQFSUZTDPMMBQTFWBMVFVOMFTTJUJTCFJOHUSFBUFEBTFRVJWBMFOUUPUIFIJEEFOWBMVF PS
    Ǭ TPNFFRVJWBMFOUJOPUIFSTUZMJOHMBOHVBHFT

    *HM> &NLM;>BG@HZ
    L<K>>G=H>LGHMF>:GMA>>E>F>GMBLGHM ;>BG@K>G=>K>= I 0A>IK>L>G<>H?
    MA> AB==>G I :MMKB;NM>GHKF:EERF>:GLMA>>E>F>GMBLGHM ;>BG@K>G=>K>= I MAHN@AMABLFB@AM
    ;>HO>KKB=>G;RMA>LMRE>LA>>ML

      0B?//OM?L;A?HNMNSF?MB??N;H>JL?M?HN;NCIH;FBCHNM

       %HNLI>O=NCIH

    5IF$44SVMFTHJWFOJOUIFTFTVCTFDUJPOTBSF FYDFQUXIFSFPUIFSXJTFTQFDJИFE FYQFDUFEUPCFVTFEBTQBSUPGUIF


    VTFSBHFOUMFWFMTUZMFTIFFUEFGBVMUTGPSBMMEPDVNFOUTUIBUDPOUBJO )5.-FMFNFOUT Q 

    4PNFSVMFTBSFJOUFOEFEGPSUIFBVUIPSMFWFM[FSPTQFDJИDJUZQSFTFOUBUJPOBMIJOUTQBSUPGUIF$44DBTDBEFUIFTFBSF
    FYQMJDJUMZDBMMFEPVUBT JL?M?HN;NCIH;FBCHNM

    4PNFPGUIFSVMFTSFHBSEJOHMFGUBOESJHIUNBSHJOTBSFHJWFOIFSFBTBQQSPQSJBUFGPSFMFNFOUTXIPTFEJSFDUJPO
    QSPQFSUZJTMUS BOEBSFFYQFDUFEUPCFЙJQQFEBSPVOEPOFMFNFOUTXIPTFEJSFDUJPOQSPQFSUZJTSUM5IFTFBSFNBSLFE
    (0. MJ?=C]=

    'PSUIFQVSQPTFPGUIFSVMFTNBSLFEDBTFTFOTJUJWF VTFSBHFOUTBSFFYQFDUFEUPVTFDBTFTFOTJUJWFNBUDIJOHPG
    BUUSJCVUFWBMVFTSBUIFSUIBODBTFJOTFOTJUJWFNBUDIJOH SFHBSEMFTTPGXIFUIFSBDBTFJOTFOTJUJWFNBUDIJOHJTOPSNBMMZ
    SFRVJSFEGPSUIFHJWFOBUUSJCVUF

    4JNJMBSMZ GPSUIFQVSQPTFPGUIFSVMFTNBSLFEDBTFJOTFOTJUJWF VTFSBHFOUTBSFFYQFDUFEUPVTF "4$**DBTF


    JOTFOTJUJWF Q NBUDIJOHPGBUUSJCVUFWBMVFTSBUIFSUIBODBTFTFOTJUJWFNBUDIJOH FWFOGPSBUUSJCVUFTJO9)5.-
    EPDVNFOUT

    *HM> 0A>L>F:KDBG@LHGER:Z><MMA>A:G=EBG@H?:MMKB;NM> O:EN>L GHM:MMKB;NM>G:F>LHK>E>F>GM


    G:F>L

    8IFOUIFUFYUCFMPXTBZTUIBUBOBUUSJCVUF 0CCA81DC4 POBOFMFNFOU 4;4<4=C G;JMNINB?JCR?FF?HANBJLIJ?LNS PS


    QSPQFSUJFT
    ?A>?4AC84B JUNFBOTUIBUJG 4;4<4=C IBTBOBUUSJCVUF 0CCA81DC4 TFU BOEQBSTJOHUIBUBUUSJCVUFTWBMVFVTJOH
    UIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q EPFTOUHFOFSBUFBOFSSPS UIFOUIFVTFSBHFOUJTFYQFDUFEUPVTFUIF
    QBSTFEWBMVFBTBQJYFMMFOHUIGPSB QSFTFOUBUJPOBMIJOU Q GPS ?A>?4AC84B

    
    8IFOUIFUFYUCFMPXTBZTUIBUBOBUUSJCVUF 0CCA81DC4 POBOFMFNFOU 4;4<4=C G;JMNINB?>CG?HMCIHJLIJ?LNS PS
    QSPQFSUJFT
    ?A>?4AC84B JUNFBOTUIBUJG 4;4<4=C IBTBOBUUSJCVUF 0CCA81DC4 TFU BOEQBSTJOHUIBUBUUSJCVUFTWBMVFVTJOH
    UIF SVMFTGPSQBSTJOHEJNFOTJPOWBMVFT Q EPFTOUHFOFSBUFBOFSSPS UIFOUIFVTFSBHFOUJTFYQFDUFEUPVTFUIFQBSTFE
    EJNFOTJPOBTUIFWBMVFGPSB QSFTFOUBUJPOBMIJOU Q GPS ?A>?4AC84B XJUIUIFWBMVFHJWFOBTBQJYFMMFOHUIJGUIF
    EJNFOTJPOXBTBOJOUFHFS BOEXJUIUIFWBMVFHJWFOBTBQFSDFOUBHFJGUIFEJNFOTJPOXBTBQFSDFOUBHF

       CMJF;SNSJ?M

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    <IJEEFO> BSFB CBTF CBTFGPOU DPNNBOE EBUBMJTU IFBE


    JOQVU<UZQFIJEEFO> MJOL NFOV<UZQFDPOUFYU> NFUB OPFNCFE OPGSBNFT
    QBSBN SQ TDSJQU TPVSDF TUZMF UJUMF\ DBTFJOTFOTJUJWF 
    EJTQMBZOPOF
    ^

    BEESFTT BSUJDMF BTJEF CMPDLRVPUF CPEZ DFOUFS EE EJS EJW EM
    EU GJHVSF GJHDBQUJPO GPPUFS GPSN I I I I I I IFBEFS
    IHSPVQ IS IUNM MFHFOE MJTUJOH NFOV OBW PM Q QMBJOUFYU QSF
    TFDUJPO TVNNBSZ VM YNQ\EJTQMBZCMPDL^

    UBCMF\EJTQMBZUBCMF^
    DBQUJPO\EJTQMBZUBCMFDBQUJPO^
    DPMHSPVQ\EJTQMBZUBCMFDPMVNOHSPVQ^
    DPM\EJTQMBZUBCMFDPMVNO^
    UIFBE\EJTQMBZUBCMFIFBEFSHSPVQ^
    UCPEZ\EJTQMBZUBCMFSPXHSPVQ^
    UGPPU\EJTQMBZUBCMFGPPUFSHSPVQ^
    US\EJTQMBZUBCMFSPX^
    UE UI\EJTQMBZUBCMFDFMM^

    MJ\EJTQMBZMJTUJUFN^

    SVCZ\EJTQMBZSVCZ^
    SU\EJTQMBZSVCZUFYU^

    'PSUIFQVSQPTFTPGUIF$44UBCMFNPEFM UIF DPM Q FMFNFOUJTFYQFDUFEUPCFUSFBUFEBTJGJUXBTQSFTFOUBTNBOZ


    UJNFTBTJUT TQBO Q BUUSJCVUF TQFDJИFT Q 

    'PSUIFQVSQPTFTPGUIF$44UBCMFNPEFM UIF DPMHSPVQ Q FMFNFOU JGJUDPOUBJOTOP DPM Q FMFNFOU JTFYQFDUFEUPCF
    USFBUFEBTJGJUIBEBTNBOZTVDIDIJMESFOBTJUT TQBO Q BUUSJCVUF TQFDJИFT Q 

    'PSUIFQVSQPTFTPGUIF$44UBCMFNPEFM UIF DPMTQBO Q BOE SPXTQBO Q BUUSJCVUFTPO UE Q BOE UI Q FMFNFOUTBSF
    FYQFDUFEUP QSPWJEF Q UIF B?4280;:=>F;4364 SFHBSEJOHDFMMTTQBOOJOHSPXTBOEDPMVNOT

    'PSUIFQVSQPTFTPGUIF$44SVCZNPEFM SVOTPGDIJMESFOPG SVCZ Q FMFNFOUTUIBUBSFOPU SU Q PS SQ Q FMFNFOUTBSF


    FYQFDUFEUPCFXSBQQFEJOBOPOZNPVTCPYFTXIPTFEJTQMBZQSPQFSUZIBTUIFWBMVFSVCZCBTF

    6TFSBHFOUTUIBUEPOPUTVQQPSUDPSSFDUSVCZSFOEFSJOHBSFFYQFDUFEUPSFOEFSQBSFOUIFTFTBSPVOEUIFUFYUPG SU Q
    FMFNFOUTJOUIFBCTFODFPG SQ Q FMFNFOUT

    5IF CS Q FMFNFOUJTFYQFDUFEUPSFOEFSBTJGJUTDPOUFOUTXFSFBTJOHMF6 "-*/&'&&% -'


    DIBSBDUFSBOEJUT
    XIJUFTQBDFQSPQFSUZXBTQSF6TFSBHFOUTBSFFYQFDUFEUPTVQQPSUUIFDMFBSQSPQFSUZPOJOMJOFFMFNFOUT JOPSEFS
    UPSFOEFS CS Q FMFNFOUTXJUI DMFBS Q BUUSJCVUFT
    JOUIFNBOOFSEFTDSJCFEJOUIFOPOOPSNBUJWFOPUFUPUIJTFЗFDUJO
    $44

    5IFVTFSBHFOUJTFYQFDUFEUPIJEF OPTDSJQU Q FMFNFOUTGPSXIPN TDSJQUJOHJTFOBCMFE Q JSSFTQFDUJWFPG$44SVMFT

    *O )5.-EPDVNFOUT Q UIFVTFSBHFOUJTFYQFDUFEUPIJEF GPSN Q FMFNFOUTUIBUBSFDIJMESFOPG UBCMF Q UIFBE Q
    UCPEZ Q UGPPU Q PS US Q FMFNFOUT JSSFTQFDUJWFPG$44SVMFT

       );LACHM;H>J;>>CHA

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    
    CMPDLRVPUF EJS EM GJHVSF MJTUJOH NFOV PM Q QMBJOUFYU
    QSF VM YNQ\
    NBSHJOUPQFNNBSHJOCPUUPNFN
    ^

    EJSEJS EJSEM EJSNFOV EJSPM EJSVM


    EMEJS EMEM EMNFOV EMPM EMVM
    NFOVEJS NFOVEM NFOVNFOV NFOVPM NFOVVM
    PMEJS PMEM PMNFOV PMPM PMVM
    VMEJS VMEM VMNFOV VMPM VMVM\
    NBSHJOUPQNBSHJOCPUUPN
    ^

    I\NBSHJOUPQFNNBSHJOCPUUPNFN^
    I\NBSHJOUPQFNNBSHJOCPUUPNFN^
    I\NBSHJOUPQFNNBSHJOCPUUPNFN^
    I\NBSHJOUPQFNNBSHJOCPUUPNFN^
    I\NBSHJOUPQFNNBSHJOCPUUPNFN^
    I\NBSHJOUPQFNNBSHJOCPUUPNFN^

    EE\NBSHJOMFGUQY^ -53TQFDJGJDVTFNBSHJOSJHIUGPSSUMFMFNFOUT 
    EJS NFOV PM VM\QBEEJOHMFGUQY^ -53TQFDJGJDVTFQBEEJOHSJHIUGPSSUM
    FMFNFOUT 
    CMPDLRVPUF GJHVSF\NBSHJOMFGUQYNBSHJOSJHIUQY^

    UBCMF\CPSEFSTQBDJOHQYCPSEFSDPMMBQTFTFQBSBUF^
    UE UI\QBEEJOHQY^

    5IF BSUJDMF Q BTJEF Q OBW Q BOE TFDUJPO Q FMFNFOUTBSFFYQFDUFEUPBЗFDUUIFNBSHJOTPG I Q FMFNFOUT
    CBTFEPOUIFOFTUJOHEFQUI*G G JTBTFMFDUPSUIBUNBUDIFTFMFNFOUTUIBUBSFFJUIFS BSUJDMF Q BTJEF Q OBW Q PS
    TFDUJPO Q FMFNFOUT UIFOUIFGPMMPXJOHSVMFTDBQUVSFXIBUJTFYQFDUFE

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    0 I\NBSHJOUPQFNNBSHJOCPUUPNFN^
    0 0 I\NBSHJOUPQFNNBSHJOCPUUPNFN^
    0 0 0 I\NBSHJOUPQFNNBSHJOCPUUPNFN^
    0 0 0 0 I\NBSHJOUPQFNNBSHJOCPUUPNFN^
    0 0 0 0 0 I\NBSHJOUPQFNNBSHJOCPUUPNFN^

    'PSFBDIQSPQFSUZJOUIFUBCMFCFMPX HJWFOB CPEZ Q FMFNFOU UIFИSTUBUUSJCVUFUIBUFYJTUT NBQTUPUIFQJYFMMFOHUI


    QSPQFSUZ Q POUIF CPEZ Q FMFNFOU*GOPOFPGUIFBUUSJCVUFTGPSBQSPQFSUZBSFGPVOE PSJGUIFWBMVFPGUIFBUUSJCVUF
    UIBUXBTGPVOEDBOOPUCFQBSTFETVDDFTTGVMMZ UIFOBEFGBVMUWBMVFPGQYJTFYQFDUFEUPCFVTFEGPSUIBUQSPQFSUZ
    JOTUFBE

    ,LIJ?LNS /IOL=?

    NBSHJOUPQ CPEZ Q FMFNFOUT NBSHJOIFJHIU Q BUUSJCVUF


    5IF CPEZ Q FMFNFOUT DPOUBJOFSGSBNFFMFNFOU Q T NBSHJOIFJHIU Q BUUSJCVUF
    CPEZ Q FMFNFOUT UPQNBSHJO BUUSJCVUF
    NBSHJOSJHIU CPEZ Q FMFNFOUT NBSHJOXJEUI Q BUUSJCVUF
    5IF CPEZ Q FMFNFOUT DPOUBJOFSGSBNFFMFNFOU Q T NBSHJOXJEUI Q BUUSJCVUF
    CPEZ Q FMFNFOUT SJHIUNBSHJO BUUSJCVUF
    NBSHJOCPUUPN CPEZ Q FMFNFOUT NBSHJOIFJHIU Q BUUSJCVUF
    5IF CPEZ Q FMFNFOUT DPOUBJOFSGSBNFFMFNFOU Q T NBSHJOIFJHIU Q BUUSJCVUF
    CPEZ Q FMFNFOUT UPQNBSHJO BUUSJCVUF
    NBSHJOMFGU CPEZ Q FMFNFOUT NBSHJOXJEUI Q BUUSJCVUF
    5IF CPEZ Q FMFNFOUT DPOUBJOFSGSBNFFMFNFOU Q T NBSHJOXJEUI Q BUUSJCVUF
    CPEZ Q FMFNFOUT SJHIUNBSHJO BUUSJCVUF

    *GUIF CPEZ Q FMFNFOUT %PDVNFOU Q T CSPXTJOHDPOUFYU Q JTB OFTUFECSPXTJOHDPOUFYU Q BOEUIF CSPXTJOHDPOUFYU
    DPOUBJOFS Q PGUIBU OFTUFECSPXTJOHDPOUFYU Q JTB GSBNF Q PS JGSBNF Q FMFNFOU UIFOUIF =IHN;CH?L@L;G?

    
    ?F?G?HN PGUIF CPEZ Q FMFNFOUJTUIBU GSBNF Q PS JGSBNF Q FMFNFOU0UIFSXJTF UIFSFJTOP DPOUBJOFSGSBNF
    FMFNFOU Q 

    [3;LHCHA 0A>:;HO>K>JNBK>F>GMLBFIERMA:M:I:@><:G<A:G@>MA>F:K@BGLH?:GHMA>KI:@>BG<EN=BG@
    HG>?KHF:GHMA>K HKB@BG I NLBG@ ?HK>Q:FIE> :G B?K:F> I 0ABLBLIHM>GMB:EER:L><NKBMRKBLD :LBM
    FB@AMBGLHF><:L>L:EEHP:G:MM:<DMH<HGMKBO>:LBMN:MBHGBGPAB<A:I:@>BLK>G=>K>=GHM:LMA>:NMAHK
    BGM>G=>= IHLLB;ER?HKMA>INKIHL>LH?IABLABG@HKHMA>KPBL>FBLE>:=BG@MA>NL>K

    *GUIF %PDVNFOU Q IBTB SPPUFMFNFOU Q BOEUIF %PDVNFOU Q T CSPXTJOHDPOUFYU Q JTB OFTUFECSPXTJOHDPOUFYU Q
    BOEUIF CSPXTJOHDPOUFYUDPOUBJOFS Q PGUIBU OFTUFECSPXTJOHDPOUFYU Q JTB GSBNF Q PS JGSBNF Q FMFNFOU BOE
    UIBUFMFNFOUIBTB TDSPMMJOH BUUSJCVUF UIFOUIFVTFSBHFOUJTFYQFDUFEUPDPNQBSFUIFWBMVFPGUIFBUUSJCVUFJOBO
    "4$**DBTFJOTFOTJUJWF Q NBOOFSUPUIFWBMVFTJOUIFИSTUDPMVNOPGUIFGPMMPXJOHUBCMF BOEJGPOFPGUIFNNBUDIFT
    UIFOUIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIBUBUUSJCVUFBTB QSFTFOUBUJPOBMIJOU Q GPSUIFBGPSFNFOUJPOFESPPU
    FMFNFOUTPWFSЙPXQSPQFSUZ TFUUJOHJUUPUIFWBMVFHJWFOJOUIFDPSSFTQPOEJOHDFMMPOUIFTBNFSPXJOUIFTFDPOE
    DPMVNO

    NNLC<ON?P;FO? IP?L^IQP;FO?

    PO TDSPMM
    TDSPMM TDSPMM
    ZFT TDSPMM
    PGG IJEEFO
    OPTDSPMM IJEEFO
    OP IJEEFO
    BVUP BVUP

    5IF UBCMF Q FMFNFOUT DFMMTQBDJOH Q BUUSJCVUF NBQTUPUIFQJYFMMFOHUIQSPQFSUZ Q CPSEFSTQBDJOHPOUIF
    FMFNFOU

    5IF UBCMF Q FMFNFOUT DFMMQBEEJOH Q BUUSJCVUF NBQTUPUIFQJYFMMFOHUIQSPQFSUJFT Q QBEEJOHUPQ QBEEJOH
    SJHIU QBEEJOHCPUUPN BOEQBEEJOHMFGUPGBOZ UE Q BOE UI Q FMFNFOUTUIBUIBWFDPSSFTQPOEJOH DFMMT Q JOUIF
    UBCMF Q DPSSFTQPOEJOHUPUIF UBCMF Q FMFNFOU

    5IF UBCMF Q FMFNFOUT ITQBDF BUUSJCVUF NBQTUPUIFEJNFOTJPOQSPQFSUJFT Q NBSHJOMFGUBOENBSHJOSJHIUPOUIF


    UBCMF Q FMFNFOU

    5IF UBCMF Q FMFNFOUT WTQBDF BUUSJCVUF NBQTUPUIFEJNFOTJPOQSPQFSUJFT Q NBSHJOUPQBOENBSHJOCPUUPNPO


    UIF UBCMF Q FMFNFOU

    5IF UBCMF Q FMFNFOUT IFJHIU BUUSJCVUF NBQTUPUIFEJNFOTJPOQSPQFSUZ Q IFJHIUPOUIF UBCMF Q FMFNFOU

    5IF UBCMF Q FMFNFOUT XJEUI Q BUUSJCVUF NBQTUPUIFEJNFOTJPOQSPQFSUZ Q XJEUIPOUIF UBCMF Q FMFNFOU

    5IF DPM Q FMFNFOUT XJEUI Q BUUSJCVUF NBQTUPUIFEJNFOTJPOQSPQFSUZ Q XJEUIPOUIF DPM Q FMFNFOU

    5IF US Q FMFNFOUT IFJHIU BUUSJCVUF NBQTUPUIFEJNFOTJPOQSPQFSUZ Q IFJHIUPOUIF US Q FMFNFOU

    5IF UE Q BOE UI Q FMFNFOUT IFJHIU Q BUUSJCVUFT NBQUPUIFEJNFOTJPOQSPQFSUZ Q IFJHIUPOUIFFMFNFOU

    5IF UE Q BOE UI Q FMFNFOUT XJEUI Q BUUSJCVUFT NBQUPUIFEJNFOTJPOQSPQFSUZ Q XJEUIPOUIFFMFNFOU

    *O RVJSLTNPEF Q UIFGPMMPXJOHSVMFTBSFBMTPFYQFDUFEUPBQQMZ

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    GPSN\NBSHJOCPUUPNFN^

    8IFOB %PDVNFOU Q JTJO RVJSLTNPEF Q NBSHJOTPO )5.-FMFNFOUT Q BUUIFUPQPSCPUUPNPG CPEZ Q UE Q PS
    UI Q FMFNFOUTBSFFYQFDUFEUPCFDPMMBQTFEUP[FSP

       FCAHG?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    UIFBE UCPEZ UGPPU UBCMFUS\WFSUJDBMBMJHONJEEMF^

    
    US UE UI\WFSUJDBMBMJHOJOIFSJU^
    TVC\WFSUJDBMBMJHOTVC^
    TVQ\WFSUJDBMBMJHOTVQFS^
    UI\UFYUBMJHODFOUFS^

    5IFGPMMPXJOHSVMFTBSFBMTPFYQFDUFEUPBQQMZ BT QSFTFOUBUJPOBMIJOUT Q 

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    UBCMF<BMJHOMFGU>\GMPBUMFGU^ DBTFJOTFOTJUJWF 
    UBCMF<BMJHOSJHIU>\GMPBUSJHIU^ DBTFJOTFOTJUJWF 
    UBCMF<BMJHODFOUFS> UBCMF<BMJHOBCTDFOUFS>
    UBCMF<BMJHOBCTNJEEMF> UBCMF<BMJHONJEEMF>\ DBTFJOTFOTJUJWF 
    NBSHJOMFGUBVUPNBSHJOSJHIUBVUP
    ^

    DBQUJPO<BMJHOCPUUPN>\DBQUJPOTJEFCPUUPN^ DBTFJOTFOTJUJWF 
    Q<BMJHOMFGU> I<BMJHOMFGU> I<BMJHOMFGU> I<BMJHOMFGU>
    I<BMJHOMFGU> I<BMJHOMFGU> I<BMJHOMFGU>\ DBTFJOTFOTJUJWF 
    UFYUBMJHOMFGU
    ^
    Q<BMJHOSJHIU> I<BMJHOSJHIU> I<BMJHOSJHIU> I<BMJHOSJHIU>
    I<BMJHOSJHIU> I<BMJHOSJHIU> I<BMJHOSJHIU>\ DBTFJOTFOTJUJWF 
    UFYUBMJHOSJHIU
    ^
    Q<BMJHODFOUFS> I<BMJHODFOUFS> I<BMJHODFOUFS> I<BMJHODFOUFS>
    I<BMJHODFOUFS> I<BMJHODFOUFS> I<BMJHODFOUFS>\ DBTFJOTFOTJUJWF 
    UFYUBMJHODFOUFS
    ^
    Q<BMJHOKVTUJGZ> I<BMJHOKVTUJGZ> I<BMJHOKVTUJGZ> I<BMJHOKVTUJGZ>
    I<BMJHOKVTUJGZ> I<BMJHOKVTUJGZ> I<BMJHOKVTUJGZ>\ DBTFJOTFOTJUJWF 
    UFYUBMJHOKVTUJGZ
    ^
    DPM<WBMJHOUPQ> UIFBE<WBMJHOUPQ> UCPEZ<WBMJHOUPQ>
    UGPPU<WBMJHOUPQ> US<WBMJHOUPQ> UE<WBMJHOUPQ> UI<WBMJHOUPQ>\ DBTFJOTFOTJUJWF 
    WFSUJDBMBMJHOUPQ
    ^
    DPM<WBMJHONJEEMF> UIFBE<WBMJHONJEEMF> UCPEZ<WBMJHONJEEMF>
    UGPPU<WBMJHONJEEMF> US<WBMJHONJEEMF> UE<WBMJHONJEEMF> UI<WBMJHONJEEMF>\
    DBTFJOTFOTJUJWF 
    WFSUJDBMBMJHONJEEMF
    ^
    DPM<WBMJHOCPUUPN> UIFBE<WBMJHOCPUUPN> UCPEZ<WBMJHOCPUUPN>
    UGPPU<WBMJHOCPUUPN> US<WBMJHOCPUUPN> UE<WBMJHOCPUUPN> UI<WBMJHOCPUUPN>\
    DBTFJOTFOTJUJWF 
    WFSUJDBMBMJHOCPUUPN
    ^
    DPM<WBMJHOCBTFMJOF> UIFBE<WBMJHOCBTFMJOF> UCPEZ<WBMJHOCBTFMJOF>
    UGPPU<WBMJHOCBTFMJOF> US<WBMJHOCBTFMJOF> UE<WBMJHOCBTFMJOF> UI<WBMJHOCBTFMJOF>\
    DBTFJOTFOTJUJWF 
    WFSUJDBMBMJHOCBTFMJOF
    ^

    5IF DFOUFS Q FMFNFOU UIF DBQUJPO Q FMFNFOUVOMFTTTQFDJИFEPUIFSXJTFCFMPX BOEUIF EJW Q UIFBE Q
    UCPEZ Q UGPPU Q US Q UE Q BOE UI Q FMFNFOUTXIFOUIFZIBWFBO BMJHO Q BUUSJCVUFXIPTFWBMVFJTBO "4$**
    DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHDFOUFS BSFFYQFDUFEUPDFOUFSUFYUXJUIJOUIFNTFMWFT BTJGUIFZIBEUIFJS
    UFYUBMJHOQSPQFSUZTFUUPDFOUFSJOB QSFTFOUBUJPOBMIJOU Q BOEUP BMJHOEFTDFOEBOUT Q UPUIFDFOUFS

    5IF EJW Q DBQUJPO Q UIFBE Q UCPEZ Q UGPPU Q US Q UE Q BOE UI Q FMFNFOUT XIFOUIFZIBWFBO BMJHO
    BUUSJCVUFXIPTFWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHMFGU BSFFYQFDUFEUPMFGUBMJHOUFYUXJUIJO
    UIFNTFMWFT BTJGUIFZIBEUIFJSUFYUBMJHOQSPQFSUZTFUUPMFGUJOB QSFTFOUBUJPOBMIJOU Q BOEUP BMJHO
    EFTDFOEBOUT Q UPUIFMFGU

    
    5IF EJW Q DBQUJPO Q UIFBE Q UCPEZ Q UGPPU Q US Q UE Q BOE UI Q FMFNFOUT XIFOUIFZIBWFBO BMJHO
    BUUSJCVUFXIPTFWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHSJHIU BSFFYQFDUFEUPSJHIUBMJHOUFYU
    XJUIJOUIFNTFMWFT BTJGUIFZIBEUIFJSUFYUBMJHOQSPQFSUZTFUUPSJHIUJOB QSFTFOUBUJPOBMIJOU Q BOEUP BMJHO
    EFTDFOEBOUT Q UPUIFSJHIU

    5IF EJW Q DBQUJPO Q UIFBE Q UCPEZ Q UGPPU Q US Q UE Q BOE UI Q FMFNFOUT XIFOUIFZIBWFBO BMJHO
    BUUSJCVUFXIPTFWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHKVTUJGZ BSFFYQFDUFEUPGVMMKVTUJGZUFYU
    XJUIJOUIFNTFMWFT BTJGUIFZIBEUIFJSUFYUBMJHOQSPQFSUZTFUUPKVTUJGZJOB QSFTFOUBUJPOBMIJOU Q BOEUP BMJHO
    EFTDFOEBOUT Q UPUIFMFGU

    8IFOBVTFSBHFOUJTUP ;FCAH>?M=?H>;HNM PGBOPEF UIFVTFSBHFOUJTFYQFDUFEUPBMJHOPOMZUIPTFEFTDFOEBOUT


    UIBUIBWFCPUIUIFJSNBSHJOMFGUBOENBSHJOSJHIUQSPQFSUJFTDPNQVUJOHUPBWBMVFPUIFSUIBOBVUP UIBUBSFPWFS
    DPOTUSBJOFEBOEUIBUIBWFPOFPGUIPTFUXPNBSHJOTXJUIBVTFEWBMVFGPSDFEUPBHSFBUFSWBMVF BOEUIBUEPOPU
    UIFNTFMWFTIBWFBOBQQMJDBCMF BMJHO BUUSJCVUF8IFONVMUJQMFFMFNFOUTBSFUP BMJHO Q BQBSUJDVMBSEFTDFOEBOU UIF
    NPTUEFFQMZOFTUFETVDIFMFNFOUJTFYQFDUFEUPPWFSSJEFUIFPUIFST

       "IHNM;H>=IFILM

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    BEESFTT DJUF EGO FN J WBS\GPOUTUZMFJUBMJD^


    C TUSPOH UI\GPOUXFJHIUCPME^
    DPEF LCE MJTUJOH QMBJOUFYU QSF TBNQ UU YNQ\GPOUGBNJMZNPOPTQBDF^
    I\GPOUTJ[FFNGPOUXFJHIUCPME^
    I\GPOUTJ[FFNGPOUXFJHIUCPME^
    I\GPOUTJ[FFNGPOUXFJHIUCPME^
    I\GPOUTJ[FFNGPOUXFJHIUCPME^
    I\GPOUTJ[FFNGPOUXFJHIUCPME^
    I\GPOUTJ[FFNGPOUXFJHIUCPME^
    CJH\GPOUTJ[FMBSHFS^
    TNBMM TVC TVQ\GPOUTJ[FTNBMMFS^
    TVC TVQ\MJOFIFJHIUOPSNBM^

    MJOL\DPMPSCMVF^
    WJTJUFE\DPMPSQVSQMF^
    NBSL\CBDLHSPVOEZFMMPXDPMPSCMBDL^

    UBCMF UE UI\CPSEFSDPMPSHSBZ^


    UIFBE UCPEZ UGPPU US\CPSEFSDPMPSJOIFSJU^
    UBCMF<SVMFTOPOF> UBCMF<SVMFTHSPVQT> UBCMF<SVMFTSPXT>
    UBCMF<SVMFTDPMT> UBCMF<SVMFTBMM> UBCMF<GSBNFWPJE>
    UBCMF<GSBNFBCPWF> UBCMF<GSBNFCFMPX> UBCMF<GSBNFITJEFT>
    UBCMF<GSBNFMIT> UBCMF<GSBNFSIT> UBCMF<GSBNFWTJEFT>
    UBCMF<GSBNFCPY> UBCMF<GSBNFCPSEFS>
    UBCMF<SVMFTOPOF>USUE UBCMF<SVMFTOPOF>USUI
    UBCMF<SVMFTHSPVQT>USUE UBCMF<SVMFTHSPVQT>USUI
    UBCMF<SVMFTSPXT>USUE UBCMF<SVMFTSPXT>USUI
    UBCMF<SVMFTDPMT>USUE UBCMF<SVMFTDPMT>USUI
    UBCMF<SVMFTBMM>USUE UBCMF<SVMFTBMM>USUI
    UBCMF<SVMFTOPOF>UIFBEUSUE UBCMF<SVMFTOPOF>UIFBEUSUI
    UBCMF<SVMFTHSPVQT>UIFBEUSUE UBCMF<SVMFTHSPVQT>UIFBEUSUI
    UBCMF<SVMFTSPXT>UIFBEUSUE UBCMF<SVMFTSPXT>UIFBEUSUI
    UBCMF<SVMFTDPMT>UIFBEUSUE UBCMF<SVMFTDPMT>UIFBEUSUI
    UBCMF<SVMFTBMM>UIFBEUSUE UBCMF<SVMFTBMM>UIFBEUSUI
    UBCMF<SVMFTOPOF>UCPEZUSUE UBCMF<SVMFTOPOF>UCPEZUSUI
    UBCMF<SVMFTHSPVQT>UCPEZUSUE UBCMF<SVMFTHSPVQT>UCPEZUSUI
    UBCMF<SVMFTSPXT>UCPEZUSUE UBCMF<SVMFTSPXT>UCPEZUSUI
    UBCMF<SVMFTDPMT>UCPEZUSUE UBCMF<SVMFTDPMT>UCPEZUSUI
    UBCMF<SVMFTBMM>UCPEZUSUE UBCMF<SVMFTBMM>UCPEZUSUI
    UBCMF<SVMFTOPOF>UGPPUUSUE UBCMF<SVMFTOPOF>UGPPUUSUI
    UBCMF<SVMFTHSPVQT>UGPPUUSUE UBCMF<SVMFTHSPVQT>UGPPUUSUI
    UBCMF<SVMFTSPXT>UGPPUUSUE UBCMF<SVMFTSPXT>UGPPUUSUI
    UBCMF<SVMFTDPMT>UGPPUUSUE UBCMF<SVMFTDPMT>UGPPUUSUI
    UBCMF<SVMFTBMM>UGPPUUSUE UBCMF<SVMFTBMM>UGPPUUSUI\
    DBTFJOTFOTJUJWF 

    
    CPSEFSDPMPSCMBDL
    ^

    5IFJOJUJBMWBMVFGPSUIFDPMPSQSPQFSUZJTFYQFDUFEUPCFCMBDL5IFJOJUJBMWBMVFGPSUIFCBDLHSPVOEDPMPSQSPQFSUZJT
    FYQFDUFEUPCFUSBOTQBSFOU5IFDBOWBTTCBDLHSPVOEJTFYQFDUFEUPCFXIJUF

    5IF BSUJDMF Q BTJEF Q OBW Q BOE TFDUJPO Q FMFNFOUTBSFFYQFDUFEUPBЗFDUUIFGPOUTJ[FPG I Q FMFNFOUT
    CBTFEPOUIFOFTUJOHEFQUI*G G JTBTFMFDUPSUIBUNBUDIFTFMFNFOUTUIBUBSFFJUIFS BSUJDMF Q BTJEF Q OBW Q PS
    TFDUJPO Q FMFNFOUT UIFOUIFGPMMPXJOHSVMFTDBQUVSFXIBUJTFYQFDUFE

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    0 I\GPOUTJ[FFN^
    0 0 I\GPOUTJ[FFN^
    0 0 0 I\GPOUTJ[FFN^
    0 0 0 0 I\GPOUTJ[FFN^
    0 0 0 0 0 I\GPOUTJ[FFN^

    8IFOB CPEZ Q UBCMF Q UIFBE Q UCPEZ Q UGPPU Q US Q UE Q PS UI Q FMFNFOUIBTB CBDLHSPVOE Q
    BUUSJCVUFTFUUPBOPOFNQUZWBMVF UIFOFXWBMVFJTFYQFDUFEUPCF SFTPMWFE Q SFMBUJWFUPUIFFMFNFOU BOEJGUIJTJT
    TVDDFTTGVM UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBTB QSFTFOUBUJPOBMIJOU Q TFUUJOHUIFFMFNFOUT
    CBDLHSPVOEJNBHFQSPQFSUZUPUIFSFTVMUJOH BCTPMVUF63- Q 

    8IFOB CPEZ Q UBCMF Q UIFBE Q UCPEZ Q UGPPU Q US Q UE Q PS UI Q FMFNFOUIBTB CHDPMPS BUUSJCVUFTFU
    UIFOFXWBMVFJTFYQFDUFEUPCFQBSTFEVTJOHUIF SVMFTGPSQBSTJOHBMFHBDZDPMPSWBMVF Q BOEJGUIBUEPFTOPUSFUVSO
    BOFSSPS UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBTB QSFTFOUBUJPOBMIJOU Q TFUUJOHUIFFMFNFOUT
    CBDLHSPVOEDPMPSQSPQFSUZUPUIFSFTVMUJOHDPMPS

    8IFOB CPEZ Q FMFNFOUIBTB UFYU Q BUUSJCVUF JUTWBMVFJTFYQFDUFEUPCFQBSTFEVTJOHUIF SVMFTGPSQBSTJOHB


    MFHBDZDPMPSWBMVF Q BOEJGUIBUEPFTOPUSFUVSOBOFSSPS UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBTB
    QSFTFOUBUJPOBMIJOU Q TFUUJOHUIFFMFNFOUTDPMPSQSPQFSUZUPUIFSFTVMUJOHDPMPS

    8IFOB CPEZ Q FMFNFOUIBTB MJOL Q BUUSJCVUF JUTWBMVFJTFYQFDUFEUPCFQBSTFEVTJOHUIF SVMFTGPSQBSTJOHB


    MFHBDZDPMPSWBMVF Q BOEJGUIBUEPFTOPUSFUVSOBOFSSPS UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBTB
    QSFTFOUBUJPOBMIJOU Q TFUUJOHUIFDPMPSQSPQFSUZPGBOZFMFNFOUJOUIF %PDVNFOU Q NBUDIJOHUIFMJOLQTFVEPDMBTT
    UPUIFSFTVMUJOHDPMPS

    8IFOB CPEZ Q FMFNFOUIBTB WMJOL Q BUUSJCVUF JUTWBMVFJTFYQFDUFEUPCFQBSTFEVTJOHUIF SVMFTGPSQBSTJOHB


    MFHBDZDPMPSWBMVF Q BOEJGUIBUEPFTOPUSFUVSOBOFSSPS UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBTB
    QSFTFOUBUJPOBMIJOU Q TFUUJOHUIFDPMPSQSPQFSUZPGBOZFMFNFOUJOUIF %PDVNFOU Q NBUDIJOHUIFWJTJUFEQTFVEP
    DMBTTUPUIFSFTVMUJOHDPMPS

    8IFOB CPEZ Q FMFNFOUIBTB BMJOL Q BUUSJCVUF JUTWBMVFJTFYQFDUFEUPCFQBSTFEVTJOHUIF SVMFTGPSQBSTJOHB


    MFHBDZDPMPSWBMVF Q BOEJGUIBUEPFTOPUSFUVSOBOFSSPS UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBTB
    QSFTFOUBUJPOBMIJOU Q TFUUJOHUIFDPMPSQSPQFSUZPGBOZFMFNFOUJOUIF %PDVNFOU Q NBUDIJOHUIFBDUJWFQTFVEP
    DMBTTBOEFJUIFSUIFMJOLQTFVEPDMBTTPSUIFWJTJUFEQTFVEPDMBTTUPUIFSFTVMUJOHDPMPS

    8IFOB UBCMF Q FMFNFOUIBTB CPSEFSDPMPS BUUSJCVUF JUTWBMVFJTFYQFDUFEUPCFQBSTFEVTJOHUIF SVMFTGPSQBSTJOHB


    MFHBDZDPMPSWBMVF Q BOEJGUIBUEPFTOPUSFUVSOBOFSSPS UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBTB
    QSFTFOUBUJPOBMIJOU Q TFUUJOHUIFFMFNFOUTCPSEFSUPQDPMPS CPSEFSSJHIUDPMPS CPSEFSCPUUPNDPMPS BOECPSEFS
    SJHIUDPMPSQSPQFSUJFTUPUIFSFTVMUJOHDPMPS

    8IFOB GPOU Q FMFNFOUIBTB DPMPS BUUSJCVUF JUTWBMVFJTFYQFDUFEUPCFQBSTFEVTJOHUIF SVMFTGPSQBSTJOHBMFHBDZ


    DPMPSWBMVF Q BOEJGUIBUEPFTOPUSFUVSOBOFSSPS UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBTB QSFTFOUBUJPOBM
    IJOU Q TFUUJOHUIFFMFNFOUTDPMPSQSPQFSUZUPUIFSFTVMUJOHDPMPS

    8IFOB GPOU Q FMFNFOUIBTB GBDF BUUSJCVUF UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBTB QSFTFOUBUJPOBM


    IJOU Q TFUUJOHUIFFMFNFOUTGPOUGBNJMZQSPQFSUZUPUIFBUUSJCVUFTWBMVF

    8IFOB GPOU Q FMFNFOUIBTB TJ[F BUUSJCVUF UIFVTFSBHFOUJTFYQFDUFEUPVTFUIFGPMMPXJOHTUFQTUPUSFBUUIF


    BUUSJCVUFBTB QSFTFOUBUJPOBMIJOU Q TFUUJOHUIFFMFNFOUTGPOUTJ[FQSPQFSUZ

     -FU 8=?DC CFUIFBUUSJCVUFTWBMVF

    
     -FU ?>B8C8>= CFBQPJOUFSJOUP 8=?DC JOJUJBMMZQPJOUJOHBUUIFTUBSUPGUIFTUSJOH

     4LJQXIJUFTQBDF Q 

     *G ?>B8C8>= JTQBTUUIFFOEPG 8=?DC UIFSFJTOP QSFTFOUBUJPOBMIJOU Q "CPSUUIFTFTUFQT

     *GUIFDIBSBDUFSBU ?>B8C8>= JTB6 #1-644*(/DIBSBDUFS


    UIFOMFU <>34 CF A4;0C8E4?;DB BOE
    BEWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS0UIFSXJTF JGUIFDIBSBDUFSBU ?>B8C8>= JTB6 %):1)&/.*/64
    DIBSBDUFS 
    UIFOMFU <>34 CF A4;0C8E4<8=DB BOEBEWBODF ?>B8C8>= UPUIFOFYUDIBSBDUFS0UIFSXJTF MFU
    <>34 CF 01B>;DC4

     $PMMFDUBTFRVFODFPGDIBSBDUFST Q JOUIFSBOHF6 %*(*5;&30 


    UP6 %*(*5/*/& 
    BOEMFU
    UIFSFTVMUJOHTFRVFODFCF 3868CB

     *G 3868CB JTUIFFNQUZTUSJOH UIFSFJTOP QSFTFOUBUJPOBMIJOU Q "CPSUUIFTFTUFQT

     *OUFSQSFU 3868CB BTBCBTFUFOJOUFHFS-FU E0;D4 CFUIFSFTVMUJOHOVNCFS

     *G <>34 JT A4;0C8E4?;DB UIFOJODSFNFOU E0;D4 CZ*G <>34 JT A4;0C8E4<8=DB UIFOMFU E0;D4 CFUIFSFTVMUPG
    TVCUSBDUJOH E0;D4 GSPN

     *G E0;D4 JTHSFBUFSUIBO MFUJUCF

     *G E0;D4 JTMFTTUIBO MFUJUCF

     4FUGPOUTJ[FUPUIFLFZXPSEDPSSFTQPOEJOHUPUIFWBMVFPG E0;D4 BDDPSEJOHUPUIFGPMMPXJOHUBCMF

    O:EN> @IHN MCT?E?SQIL> *IN?M

     YYTNBMM
     TNBMM
     NFEJVN
     MBSHF
     YMBSHF
     YYMBSHF
     YYYMBSHF B4414;>F

    5IFYYYMBSHFWBMVFJTBOPO$44WBMVFVTFEIFSFUPJOEJDBUFBGPOUTJ[FPOFTUFQMBSHFSUIBOYYMBSHF

       ,OH=NO;NCIH;H>>?=IL;NCIHM

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    MJOL WJTJUFE JOT V\UFYUEFDPSBUJPOVOEFSMJOF^


    BCCS<UJUMF> BDSPOZN<UJUMF>\UFYUEFDPSBUJPOEPUUFEVOEFSMJOF^
    EFM T TUSJLF\UFYUEFDPSBUJPOMJOFUISPVHI^
    CMJOL\UFYUEFDPSBUJPOCMJOL^

    RCFGPSF\DPOUFOUPQFORVPUF^
    RBGUFS\DPOUFOUDMPTFRVPUF^

    OPCS\XIJUFTQBDFOPXSBQ^
    MJTUJOH QMBJOUFYU QSF YNQ\XIJUFTQBDFQSF^

    PM\MJTUTUZMFUZQFEFDJNBM^

    EJS NFOV VM\


    MJTUTUZMFUZQFEJTD
    ^

    EJSEM EJSNFOV EJSVM


    NFOVEM NFOVNFOV NFOVVM
    PMEM PMNFOV PMVM
    VMEM VMNFOV VMVM\
    MJTUTUZMFUZQFDJSDMF
    ^

    
    EJSEJSEM EJSEJSNFOV EJSEJSVM
    EJSNFOVEM EJSNFOVNFOV EJSNFOVVM
    EJSPMEM EJSPMNFOV EJSPMVM
    EJSVMEM EJSVMNFOV EJSVMVM
    NFOVEJSEM NFOVEJSNFOV NFOVEJSVM
    NFOVNFOVEM NFOVNFOVNFOV NFOVNFOVVM
    NFOVPMEM NFOVPMNFOV NFOVPMVM
    NFOVVMEM NFOVVMNFOV NFOVVMVM
    PMEJSEM PMEJSNFOV PMEJSVM
    PMNFOVEM PMNFOVNFOV PMNFOVVM
    PMPMEM PMPMNFOV PMPMVM
    PMVMEM PMVMNFOV PMVMVM
    VMEJSEM VMEJSNFOV VMEJSVM
    VMNFOVEM VMNFOVNFOV VMNFOVVM
    VMPMEM VMPMNFOV VMPMVM
    VMVMEM VMVMNFOV VMVMVM\
    MJTUTUZMFUZQFTRVBSF
    ^

    UBCMF\CPSEFSTUZMFPVUTFU^
    UE UI\CPSEFSTUZMFJOTFU^

    <EJSMUS>\EJSFDUJPOMUSVOJDPEFCJEJFNCFE^ DBTFJOTFOTJUJWF 
    <EJSSUM>\EJSFDUJPOSUMVOJDPEFCJEJFNCFE^ DBTFJOTFOTJUJWF 
    CEP<EJSMUS> CEP<EJSSUM>\VOJDPEFCJEJCJEJPWFSSJEF^ DBTFJOTFOTJUJWF 

    *OBEEJUJPO SVMFTTFUUJOHUIFRVPUFTQSPQFSUZBQQSPQSJBUFMZGPSUIFMPDBMFTBOEMBOHVBHFTVOEFSTUPPECZUIFVTFSBSF
    FYQFDUFEUPCFQSFTFOU

    5IFGPMMPXJOHSVMFTBSFBMTPFYQFDUFEUPBQQMZ BT QSFTFOUBUJPOBMIJOUT Q 

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    UE<OPXSBQ> UI<OPXSBQ>\XIJUFTQBDFOPXSBQ^
    QSF<XSBQ>\XIJUFTQBDFQSFXSBQ^

    CS<DMFBSMFGU>\DMFBSMFGU^ DBTFJOTFOTJUJWF 
    CS<DMFBSSJHIU>\DMFBSSJHIU^ DBTFJOTFOTJUJWF 
    CS<DMFBSBMM> CS<DMFBSCPUI>\DMFBSCPUI^ DBTFJOTFOTJUJWF 

    PM<UZQF> MJ<UZQF>\MJTUTUZMFUZQFEFDJNBM^
    PM<UZQFB> MJ<UZQFB>\MJTUTUZMFUZQFMPXFSBMQIB^ DBTFTFOTJUJWF 
    PM<UZQF"> MJ<UZQF">\MJTUTUZMFUZQFVQQFSBMQIB^ DBTFTFOTJUJWF 
    PM<UZQFJ> MJ<UZQFJ>\MJTUTUZMFUZQFMPXFSSPNBO^ DBTFTFOTJUJWF 
    PM<UZQF*> MJ<UZQF*>\MJTUTUZMFUZQFVQQFSSPNBO^ DBTFTFOTJUJWF 
    VM<UZQFEJTD> MJ<UZQFEJTD>\MJTUTUZMFUZQFEJTD^
    VM<UZQFDJSDMF> MJ<UZQFDJSDMF>\MJTUTUZMFUZQFDJSDMF^
    VM<UZQFTRVBSF> MJ<UZQFTRVBSF>\MJTUTUZMFUZQFTRVBSF^

    UBCMF<SVMFTOPOF> UBCMF<SVMFTHSPVQT> UBCMF<SVMFTSPXT>


    UBCMF<SVMFTDPMT> UBCMF<SVMFTBMM>\
    CPSEFSTUZMFOPOF
    CPSEFSDPMMBQTFDPMMBQTF
    ^

    UBCMF<GSBNFWPJE>\CPSEFSTUZMFIJEEFOIJEEFOIJEEFOIJEEFO^
    UBCMF<GSBNFBCPWF>\CPSEFSTUZMFTPMJEIJEEFOIJEEFOIJEEFO^
    UBCMF<GSBNFCFMPX>\CPSEFSTUZMFIJEEFOIJEEFOTPMJEIJEEFO^
    UBCMF<GSBNFITJEFT>\CPSEFSTUZMFTPMJEIJEEFOTPMJEIJEEFO^
    UBCMF<GSBNFMIT>\CPSEFSTUZMFIJEEFOIJEEFOIJEEFOTPMJE^
    UBCMF<GSBNFSIT>\CPSEFSTUZMFIJEEFOTPMJEIJEEFOIJEEFO^
    UBCMF<GSBNFWTJEFT>\CPSEFSTUZMFIJEEFOTPMJEIJEEFOTPMJE^
    UBCMF<GSBNFCPY>
    UBCMF<GSBNFCPSEFS>\CPSEFSTUZMFTPMJETPMJETPMJETPMJE^

    
    UBCMF<SVMFTOPOF>USUE UBCMF<SVMFTOPOF>USUI
    UBCMF<SVMFTOPOF>UIFBEUSUE UBCMF<SVMFTOPOF>UIFBEUSUI
    UBCMF<SVMFTOPOF>UCPEZUSUE UBCMF<SVMFTOPOF>UCPEZUSUI
    UBCMF<SVMFTOPOF>UGPPUUSUE UBCMF<SVMFTOPOF>UGPPUUSUI
    UBCMF<SVMFTHSPVQT>USUE UBCMF<SVMFTHSPVQT>USUI
    UBCMF<SVMFTHSPVQT>UIFBEUSUE UBCMF<SVMFTHSPVQT>UIFBEUSUI
    UBCMF<SVMFTHSPVQT>UCPEZUSUE UBCMF<SVMFTHSPVQT>UCPEZUSUI
    UBCMF<SVMFTHSPVQT>UGPPUUSUE UBCMF<SVMFTHSPVQT>UGPPUUSUI
    UBCMF<SVMFTSPXT>USUE UBCMF<SVMFTSPXT>USUI
    UBCMF<SVMFTSPXT>UIFBEUSUE UBCMF<SVMFTSPXT>UIFBEUSUI
    UBCMF<SVMFTSPXT>UCPEZUSUE UBCMF<SVMFTSPXT>UCPEZUSUI
    UBCMF<SVMFTSPXT>UGPPUUSUE UBCMF<SVMFTSPXT>UGPPUUSUI\
    CPSEFSTUZMFOPOF
    ^

    UBCMF<SVMFTHSPVQT>DPMHSPVQ UBCMF<SVMFTHSPVQT>UIFBE
    UBCMF<SVMFTHSPVQT>UCPEZ UBCMF<SVMFTHSPVQT>UGPPU\
    CPSEFSTUZMFTPMJE
    ^

    UBCMF<SVMFTSPXT>US UBCMF<SVMFTSPXT>UIFBEUS
    UBCMF<SVMFTSPXT>UCPEZUS UBCMF<SVMFTSPXT>UGPPUUS\
    CPSEFSTUZMFTPMJE
    ^

    UBCMF<SVMFTDPMT>USUE UBCMF<SVMFTDPMT>USUI
    UBCMF<SVMFTDPMT>UIFBEUSUE UBCMF<SVMFTDPMT>UIFBEUSUI
    UBCMF<SVMFTDPMT>UCPEZUSUE UBCMF<SVMFTDPMT>UCPEZUSUI
    UBCMF<SVMFTDPMT>UGPPUUSUE UBCMF<SVMFTDPMT>UGPPUUSUI\
    CPSEFSTUZMFOPOFTPMJEOPOFTPMJE
    ^

    UBCMF<SVMFTBMM>USUE UBCMF<SVMFTBMM>USUI
    UBCMF<SVMFTBMM>UIFBEUSUE UBCMF<SVMFTBMM>UIFBEUSUI
    UBCMF<SVMFTBMM>UCPEZUSUE UBCMF<SVMFTBMM>UCPEZUSUI
    UBCMF<SVMFTBMM>UGPPUUSUE UBCMF<SVMFTBMM>UGPPUUSUI\
    CPSEFSTUZMFTPMJE
    ^

    UBCMF<CPSEFS>USUE UBCMF<CPSEFS>USUI
    UBCMF<CPSEFS>UIFBEUSUE UBCMF<CPSEFS>UIFBEUSUI
    UBCMF<CPSEFS>UCPEZUSUE UBCMF<CPSEFS>UCPEZUSUI
    UBCMF<CPSEFS>UGPPUUSUE UBCMF<CPSEFS>UGPPUUSUI\
    CPSEFSXJEUIQY
    ^

    8IFOSFOEFSJOH MJ Q FMFNFOUT VTFSBHFOUTBSFFYQFDUFEUPVTFUIFPSEJOBMWBMVFPGUIF MJ Q FMFNFOUUPSFOEFSUIF


    DPVOUFSJOUIFMJTUJUFNNBSLFS

    5IF UBCMF Q FMFNFOUT CPSEFS Q BUUSJCVUF NBQTUPUIFQJYFMMFOHUIQSPQFSUJFT Q CPSEFSUPQXJEUI CPSEFSSJHIU
    XJEUI CPSEFSCPUUPNXJEUI CPSEFSMFGUXJEUIPOUIFFMFNFOU*GUIFBUUSJCVUFJTQSFTFOUCVUQBSTJOHUIFBUUSJCVUFT
    WBMVFVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q HFOFSBUFTBOFSSPS BEFGBVMUWBMVFPGQYJTFYQFDUFEUPCF
    VTFEGPSUIBUQSPQFSUZJOTUFBE

    5IF XCS Q FMFNFOUJTFYQFDUFEUPPWFSSJEFUIFXIJUFTQBDFQSPQFSUZBOEBMXBZTQSPWJEFBMJOFCSFBLJOHPQQPSUVOJUZ

       .?M?NNCHALOF?M@ILCHB?LCN?>JLIJ?LNC?M

    5IFGPMMPXJOHSVMFTBSFBMTPFYQFDUFEUPCFJOQMBZ SFTFUUJOHDFSUBJOQSPQFSUJFTUPCMPDLJOIFSJUBODFCZEFGBVMU

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    UBCMF JOQVU TFMFDU PQUJPO PQUHSPVQ CVUUPO UFYUBSFB LFZHFO\

    
    UFYUJOEFOUJOJUJBM
    ^

    *O RVJSLTNPEF Q UIFGPMMPXJOHSVMFTBSFBMTPFYQFDUFEUPBQQMZ

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    UBCMF\
    GPOUXFJHIUJOJUJBM
    GPOUTUZMFJOJUJBM
    GPOUWBSJBOUJOJUJBM
    GPOUTJ[FJOJUJBM
    MJOFIFJHIUJOJUJBM
    XIJUFTQBDFJOJUJBM
    UFYUBMJHOJOJUJBM
    ^

    JOQVU\CPYTJ[JOHCPSEFSCPY^

       0B? CM K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    IS\DPMPSHSBZCPSEFSTUZMFJOTFUCPSEFSXJEUIQY^

    5IFGPMMPXJOHSVMFTBSFBMTPFYQFDUFEUPBQQMZ BT QSFTFOUBUJPOBMIJOUT Q 

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    IS<BMJHOMFGU>\NBSHJOMFGUNBSHJOSJHIUBVUP^ DBTFJOTFOTJUJWF 
    IS<BMJHOSJHIU>\NBSHJOMFGUBVUPNBSHJOSJHIU^ DBTFJOTFOTJUJWF 
    IS<BMJHODFOUFS>\NBSHJOMFGUBVUPNBSHJOSJHIUBVUP^ DBTFJOTFOTJUJWF 
    IS<DPMPS> IS<OPTIBEF>\CPSEFSTUZMFTPMJE^

    *GBO IS Q FMFNFOUIBTFJUIFSB DPMPS Q BUUSJCVUFPSB OPTIBEF Q BUUSJCVUF BOEGVSUIFSNPSFBMTPIBTB TJ[F Q
    BUUSJCVUF BOEQBSTJOHUIBUBUUSJCVUFTWBMVFVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q EPFTOUHFOFSBUFBO
    FSSPS UIFOUIFVTFSBHFOUJTFYQFDUFEUPVTFUIFQBSTFEWBMVFEJWJEFECZUXPBTBQJYFMMFOHUIGPS QSFTFOUBUJPOBM
    IJOUT Q GPSUIFQSPQFSUJFTCPSEFSUPQXJEUI CPSEFSSJHIUXJEUI CPSEFSCPUUPNXJEUI BOECPSEFSMFGUXJEUIPOUIF
    FMFNFOU

    0UIFSXJTF JGBO IS Q FMFNFOUIBTOFJUIFSB DPMPS Q BUUSJCVUFOPSB OPTIBEF Q BUUSJCVUF CVUEPFTIBWFB TJ[F Q
    BUUSJCVUF BOEQBSTJOHUIBUBUUSJCVUFTWBMVFVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q EPFTOUHFOFSBUFBO
    FSSPS UIFOJGUIFQBSTFEWBMVFJTPOF UIFOUIFVTFSBHFOUJTFYQFDUFEUPVTFUIFBUUSJCVUFBTB QSFTFOUBUJPOBMIJOU Q
    TFUUJOHUIFFMFNFOUTCPSEFSCPUUPNXJEUIUPPUIFSXJTF JGUIFQBSTFEWBMVFJTHSFBUFSUIBOPOF UIFOUIFVTFS
    BHFOUJTFYQFDUFEUPVTFUIFQBSTFEWBMVFNJOVTUXPBTBQJYFMMFOHUIGPS QSFTFOUBUJPOBMIJOUT Q GPSUIFIFJHIU
    QSPQFSUZPOUIFFMFNFOU

    5IF XJEUI Q BUUSJCVUFPOBO IS Q FMFNFOU NBQTUPUIFEJNFOTJPOQSPQFSUZ Q XJEUIPOUIFFMFNFOU

    8IFOBO IS Q FMFNFOUIBTB DPMPS Q BUUSJCVUF JUTWBMVFJTFYQFDUFEUPCFQBSTFEVTJOHUIF SVMFTGPSQBSTJOHB


    MFHBDZDPMPSWBMVF Q BOEJGUIBUEPFTOPUSFUVSOBOFSSPS UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBTB
    QSFTFOUBUJPOBMIJOU Q TFUUJOHUIFFMFNFOUTDPMPSQSPQFSUZUPUIFSFTVMUJOHDPMPS

       0B? AD@G?N@O K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    GJFMETFU\
    NBSHJOMFGUQYNBSHJOSJHIUQY
    CPSEFSHSPPWFQY5ISFF%'BDF
    QBEEJOHFNFNFN
    ^

    
    5IF GJFMETFU Q FMFNFOUJTFYQFDUFEUPFTUBCMJTIBOFXCMPDLGPSNBUUJOHDPOUFYU

    5IFИSTU MFHFOE Q FMFNFOUDIJMEPGB GJFMETFU Q FMFNFOU JGBOZ JTFYQFDUFEUPCFSFOEFSFEPWFSUIFUPQCPSEFS


    FEHFPGUIF GJFMETFU Q FMFNFOU*GUIF MFHFOE Q FMFNFOUJORVFTUJPOIBTBO BMJHO Q BUUSJCVUF BOEJUTWBMVFJTBO
    "4$**DBTFJOTFOTJUJWF Q NBUDIGPSPOFPGUIFTUSJOHTJOUIFИSTUDPMVNOPGUIFGPMMPXJOHUBCMF UIFOUIF MFHFOE Q JT
    FYQFDUFEUPCFSFOEFSFEIPSJ[POUBMMZBMJHOFEPWFSUIFCPSEFSFEHFJOUIFQPTJUJPOHJWFOJOUIFDPSSFTQPOEJOHDFMMPO
    UIFTBNFSPXJOUIFTFDPOEDPMVNO*GUIFBUUSJCVUFJTBCTFOUPSIBTBWBMVFUIBUEPFTOUNBUDIBOZPGUIFDBTFTJOUIF
    UBCMF UIFOUIFQPTJUJPOJTFYQFDUFEUPCFPOUIFSJHIUJGUIFEJSFDUJPOQSPQFSUZPOUIJTFMFNFOUIBTBDPNQVUFEWBMVF
    PGSUM BOEPOUIFMFGUPUIFSXJTF

    NNLC<ON?P;FO? FCAHG?HNJIMCNCIH

    MFGU 0OUIFMFGU
    SJHIU 0OUIFSJHIU
    DFOUFS *OUIFNJEEMF

      .?JF;=?>?F?G?HNM

       !G<?>>?>=IHN?HN

    5IF FNCFE Q JGSBNF Q BOE WJEFP Q FMFNFOUTBSFFYQFDUFEUPCFUSFBUFEBTSFQMBDFEFMFNFOUT

    " DBOWBT Q FMFNFOUUIBU SFQSFTFOUT Q FNCFEEFEDPOUFOU Q JTFYQFDUFEUPCFUSFBUFEBTBSFQMBDFEFMFNFOU0UIFS


    DBOWBT Q FMFNFOUTBSFFYQFDUFEUPCFUSFBUFEBTPSEJOBSZFMFNFOUTJOUIFSFOEFSJOHNPEFM

    "O PCKFDU Q FMFNFOUUIBU SFQSFTFOUT Q BOJNBHF QMVHJO PS OFTUFECSPXTJOHDPOUFYU Q JTFYQFDUFEUPCFUSFBUFE
    BTBSFQMBDFEFMFNFOU0UIFS PCKFDU Q FMFNFOUTBSFFYQFDUFEUPCFUSFBUFEBTPSEJOBSZFMFNFOUTJOUIFSFOEFSJOH
    NPEFM

    "O BQQMFU Q FMFNFOUUIBU SFQSFTFOUT Q B QMVHJO Q JTFYQFDUFEUPCFUSFBUFEBTBSFQMBDFEFMFNFOU0UIFS


    BQQMFU Q FMFNFOUTBSFFYQFDUFEUPCFUSFBUFEBTPSEJOBSZFMFNFOUTJOUIFSFOEFSJOHNPEFM

    5IF BVEJP Q FMFNFOU XIFOJUJT FYQPTJOHBVTFSJOUFSGBDF Q JTFYQFDUFEUPCFUSFBUFEBTBSFQMBDFEFMFNFOUBCPVU


    POFMJOFIJHI BTXJEFBTJTOFDFTTBSZUPFYQPTFUIFVTFSBHFOUTVTFSJOUFSGBDFGFBUVSFT8IFOBO BVEJP Q FMFNFOUJT
    OPU FYQPTJOHBVTFSJOUFSGBDF Q UIFVTFSBHFOUJTFYQFDUFEUPIJEFJU JSSFTQFDUJWFPG$44SVMFT

    8IFUIFSB WJEFP Q FMFNFOUJT FYQPTJOHBVTFSJOUFSGBDF Q JTOPUFYQFDUFEUPBЗFDUUIFTJ[FPGUIFSFOEFSJOH


    DPOUSPMTBSFFYQFDUFEUPCFPWFSMBJEXJUIUIFQBHFDPOUFOUXJUIPVUDBVTJOHBOZMBZPVUDIBOHFT BOEBSFFYQFDUFEUP
    EJTBQQFBSXIFOUIFVTFSEPFTOPUOFFEUIFN

    8IFOB WJEFP Q FMFNFOUSFQSFTFOUTBQPTUFSGSBNFPSGSBNFPGWJEFP UIFQPTUFSGSBNFPSGSBNFPGWJEFPJTFYQFDUFE


    UPCFSFOEFSFEBUUIFMBSHFTUTJ[FUIBUNBJOUBJOTUIFBTQFDUSBUJPPGUIBUQPTUFSGSBNFPSGSBNFPGWJEFPXJUIPVUCFJOH
    UBMMFSPSXJEFSUIBOUIF WJEFP Q FMFNFOUJUTFMG BOEJTFYQFDUFEUPCFDFOUFSFEJOUIF WJEFP Q FMFNFOU

    *HM> .>LBSBG@ OB=>H I :G= <:GO:L I >E>F>GML=H>LGHMBGM>KKNIMOB=>HIE:R;:<DHK<E>:KMA>


    <:GO:L

    5IFGPMMPXJOH$44SVMFTBSFFYQFDUFEUPBQQMZ

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    JGSBNF\CPSEFSQYJOTFU^

       %G;A?M

    8IFOBO JNH Q FMFNFOUPSBO JOQVU Q FMFNFOUXIFOJUT UZQF Q BUUSJCVUFJTJOUIF *NBHF#VUUPO Q TUBUF
    SFQSFTFOUT Q BOJNBHF JUJTFYQFDUFEUPCFUSFBUFEBTBSFQMBDFEFMFNFOU

    8IFOBO JNH Q FMFNFOUPSBO JOQVU Q FMFNFOUXIFOJUT UZQF Q BUUSJCVUFJTJOUIF *NBHF#VUUPO Q TUBUFEPFTOPU
    SFQSFTFOU Q BOJNBHF CVUUIFFMFNFOUBMSFBEZIBTJOUSJOTJDEJNFOTJPOT FHGSPNUIF EJNFOTJPOBUUSJCVUFT Q PS$44
    SVMFT
    BOEFJUIFSUIFVTFSBHFOUIBTSFBTPOUPCFMJFWFUIBUUIFJNBHFXJMMCFDPNF 0E08;01;4 ?  BOECFSFOEFSFEJO
    EVFDPVSTFPSUIF %PDVNFOU Q JTJO RVJSLTNPEF Q UIFFMFNFOUJTFYQFDUFEUPCFUSFBUFEBTBSFQMBDFEFMFNFOU
    XIPTFDPOUFOUJTUIFUFYUUIBUUIFFMFNFOUSFQSFTFOUT JGBOZ PQUJPOBMMZBMPOHTJEFBOJDPOJOEJDBUJOHUIBUUIFJNBHFJT

    
    CFJOHPCUBJOFE'PS JOQVU Q FMFNFOUT UIFUFYUJTFYQFDUFEUPBQQFBSCVUUPOMJLFUPJOEJDBUFUIBUUIFFMFNFOUJTB
    CVUUPO Q 

    8IFOBO JNH Q FMFNFOU SFQSFTFOUT Q TPNFUFYUBOEUIFVTFSBHFOUEPFTOPUFYQFDUUIJTUPDIBOHF UIFFMFNFOUJT


    FYQFDUFEUPCFUSFBUFEBTBOJOMJOFFMFNFOUXIPTFDPOUFOUJTUIFUFYU PQUJPOBMMZXJUIBOJDPOJOEJDBUJOHUIBUBOJNBHF
    JTNJTTJOH

    8IFOBO JNH Q FMFNFOU SFQSFTFOUT Q OPUIJOHBOEUIFVTFSBHFOUEPFTOPUFYQFDUUIJTUPDIBOHF UIFFMFNFOUJT


    FYQFDUFEUPOPUCFSFOEFSFEBUBMM

    8IFOBO JNH Q FMFNFOUNJHIUCFBLFZQBSUPGUIFDPOUFOU CVUOFJUIFSUIFJNBHFOPSBOZLJOEPGBMUFSOBUJWFUFYUJT


    BWBJMBCMF BOEUIFVTFSBHFOUEPFTOPUFYQFDUUIJTUPDIBOHF UIFFMFNFOUJTFYQFDUFEUPCFUSFBUFEBTBOJOMJOF
    FMFNFOUXIPTFDPOUFOUJTBOJDPOJOEJDBUJOHUIBUBOJNBHFJTNJTTJOH

    8IFOBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF *NBHF#VUUPO Q TUBUFEPFTOPU SFQSFTFOU Q BOJNBHF
    BOEUIFVTFSBHFOUEPFTOPUFYQFDUUIJTUPDIBOHF UIFFMFNFOUJTFYQFDUFEUPCFUSFBUFEBTBSFQMBDFEFMFNFOU
    DPOTJTUJOHPGBCVUUPOXIPTFDPOUFOUJTUIFFMFNFOUTBMUFSOBUJWFUFYU5IFJOUSJOTJDEJNFOTJPOTPGUIFCVUUPOBSF
    FYQFDUFEUPCFBCPVUPOFMJOFJOIFJHIUBOEXIBUFWFSXJEUIJTOFDFTTBSZUPSFOEFSUIFUFYUPOPOFMJOF

    5IFJDPOTNFOUJPOFEBCPWFBSFFYQFDUFEUPCFSFMBUJWFMZTNBMMTPBTOPUUPEJTSVQUNPTUUFYUCVUCFFBTJMZDMJDLBCMF*O
    BWJTVBMFOWJSPONFOU GPSJOTUBODF JDPOTDPVMECFQJYFMTCZQJYFMTTRVBSF PSFNCZFNJGUIFJNBHFTBSF
    TDBMBCMF*OBOBVEJPFOWJSPONFOU UIFJDPODPVMECFBTIPSUCMFFQ5IFJDPOTBSFJOUFOEFEUPJOEJDBUFUPUIFVTFSUIBU
    UIFZDBOCFVTFEUPHFUUPXIBUFWFSPQUJPOTUIF6"QSPWJEFTGPSJNBHFT BOE XIFSFBQQSPQSJBUF BSFFYQFDUFEUP
    QSPWJEFBDDFTTUPUIFDPOUFYUNFOVUIBUXPVMEIBWFDPNFVQJGUIFVTFSJOUFSBDUFEXJUIUIFBDUVBMJNBHF

    5IFGPMMPXJOH$44SVMFTBSFFYQFDUFEUPBQQMZXIFOUIF %PDVNFOU Q JTJO RVJSLTNPEF Q 

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    JNH<BMJHOMFGU>\NBSHJOSJHIUQY^ DBTFJOTFOTJUJWF 
    JNH<BMJHOSJHIU>\NBSHJOMFGUQY^ DBTFJOTFOTJUJWF 

       NNLC<ON?M@IL?G<?>>?>=IHN?HN;H>CG;A?M

    5IFGPMMPXJOH$44SVMFTBSFFYQFDUFEUPBQQMZBT QSFTFOUBUJPOBMIJOUT Q 

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    JGSBNF<GSBNFCPSEFS> JGSBNF<GSBNFCPSEFSOP>\CPSEFSOPOF^ DBTFJOTFOTJUJWF 

    BQQMFU<BMJHOMFGU> FNCFE<BMJHOMFGU> JGSBNF<BMJHOMFGU>


    JNH<BMJHOMFGU> JOQVU<UZQFJNBHF><BMJHOMFGU> PCKFDU<BMJHOMFGU>\ DBTFJOTFOTJUJWF 
    GMPBUMFGU
    ^

    BQQMFU<BMJHOSJHIU> FNCFE<BMJHOSJHIU> JGSBNF<BMJHOSJHIU>


    JNH<BMJHOSJHIU> JOQVU<UZQFJNBHF><BMJHOSJHIU> PCKFDU<BMJHOSJHIU>\ DBTFJOTFOTJUJWF
    
    GMPBUSJHIU
    ^

    BQQMFU<BMJHOUPQ> FNCFE<BMJHOUPQ> JGSBNF<BMJHOUPQ>


    JNH<BMJHOUPQ> JOQVU<UZQFJNBHF><BMJHOUPQ> PCKFDU<BMJHOUPQ>\ DBTFJOTFOTJUJWF 
    WFSUJDBMBMJHOUPQ
    ^

    BQQMFU<BMJHOCPUUPN> FNCFE<BMJHOCPUUPN> JGSBNF<BMJHOCPUUPN>


    JNH<BMJHOCPUUPN> JOQVU<UZQFJNBHF><BMJHOCPUUPN> PCKFDU<BMJHOCPUUPN>
    BQQMFU<BMJHOCBTFMJOF> FNCFE<BMJHOCBTFMJOF> JGSBNF<BMJHOCBTFMJOF>
    JNH<BMJHOCBTFMJOF> JOQVU<UZQFJNBHF><BMJHOCBTFMJOF> PCKFDU<BMJHOCBTFMJOF>\
    DBTFJOTFOTJUJWF 
    WFSUJDBMBMJHOCBTFMJOF
    ^

    
    BQQMFU<BMJHOUFYUUPQ> FNCFE<BMJHOUFYUUPQ> JGSBNF<BMJHOUFYUUPQ>
    JNH<BMJHOUFYUUPQ> JOQVU<UZQFJNBHF><BMJHOUFYUUPQ> PCKFDU<BMJHOUFYUUPQ>\
    DBTFJOTFOTJUJWF 
    WFSUJDBMBMJHOUFYUUPQ
    ^

    BQQMFU<BMJHOBCTNJEEMF> FNCFE<BMJHOBCTNJEEMF> JGSBNF<BMJHOBCTNJEEMF>


    JNH<BMJHOBCTNJEEMF> JOQVU<UZQFJNBHF><BMJHOBCTNJEEMF> PCKFDU<BMJHOBCTNJEEMF>
    BQQMFU<BMJHOBCTDFOUFS> FNCFE<BMJHOBCTDFOUFS> JGSBNF<BMJHOBCTDFOUFS>
    JNH<BMJHOBCTDFOUFS> JOQVU<UZQFJNBHF><BMJHOBCTDFOUFS> PCKFDU<BMJHOBCTDFOUFS>\
    DBTFJOTFOTJUJWF 
    WFSUJDBMBMJHONJEEMF
    ^

    BQQMFU<BMJHOCPUUPN> FNCFE<BMJHOCPUUPN> JGSBNF<BMJHOCPUUPN>


    JNH<BMJHOCPUUPN> JOQVU<UZQFJNBHF><BMJHOCPUUPN>
    PCKFDU<BMJHOCPUUPN>\ DBTFJOTFOTJUJWF 
    WFSUJDBMBMJHOCPUUPN
    ^

    8IFOBO BQQMFU Q FNCFE Q JGSBNF Q JNH Q PS PCKFDU Q FMFNFOU PSBO JOQVU Q FMFNFOUXIPTF UZQF Q
    BUUSJCVUFJTJOUIF *NBHF#VUUPO Q TUBUF IBTBO BMJHO BUUSJCVUFXIPTFWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPS
    UIFTUSJOHDFOUFSPSUIFTUSJOHNJEEMF UIFVTFSBHFOUJTFYQFDUFEUPBDUBTJGUIFFMFNFOUTWFSUJDBMBMJHOQSPQFSUZ
    XBTTFUUPBWBMVFUIBUBMJHOTUIFWFSUJDBMNJEEMFPGUIFFMFNFOUXJUIUIFQBSFOUFMFNFOUTCBTFMJOF

    5IF ITQBDF BUUSJCVUFPG BQQMFU Q FNCFE Q JGSBNF Q JNH Q PS PCKFDU Q FMFNFOUT BOE JOQVU Q FMFNFOUTXJUI
    B UZQF Q BUUSJCVUFJOUIF *NBHF#VUUPO Q TUBUF NBQTUPUIFEJNFOTJPOQSPQFSUJFT Q NBSHJOMFGUBOENBSHJOSJHIU
    POUIFFMFNFOU

    5IF WTQBDF BUUSJCVUFPG BQQMFU Q FNCFE Q JGSBNF Q JNH Q PS PCKFDU Q FMFNFOUT BOE JOQVU Q FMFNFOUTXJUI
    B UZQF Q BUUSJCVUFJOUIF *NBHF#VUUPO Q TUBUF NBQTUPUIFEJNFOTJPOQSPQFSUJFT Q NBSHJOUPQBOENBSHJO
    CPUUPNPOUIFFMFNFOU

    8IFOBO JNH Q FMFNFOU PCKFDU Q FMFNFOU PS JOQVU Q FMFNFOUXJUIB UZQF Q BUUSJCVUFJOUIF *NBHF#VUUPO Q
    TUBUFJTDPOUBJOFEXJUIJOB IZQFSMJOL Q BOEIBTB CPSEFS BUUSJCVUFXIPTFWBMVF XIFOQBSTFEVTJOHUIF SVMFTGPS
    QBSTJOHOPOOFHBUJWFJOUFHFST Q JTGPVOEUPCFBOVNCFSHSFBUFSUIBO[FSP UIFVTFSBHFOUJTFYQFDUFEUPVTFUIF
    QBSTFEWBMVFGPSFJHIU QSFTFOUBUJPOBMIJOUT Q GPVSTFUUJOHUIFQBSTFEWBMVFBTBQJYFMMFOHUIGPSUIFFMFNFOUT
    CPSEFSUPQXJEUI CPSEFSSJHIUXJEUI CPSEFSCPUUPNXJEUI BOECPSEFSMFGUXJEUIQSPQFSUJFT BOEGPVSTFUUJOHUIF
    FMFNFOUTCPSEFSUPQTUZMF CPSEFSSJHIUTUZMF CPSEFSCPUUPNTUZMF BOECPSEFSMFGUTUZMFQSPQFSUJFTUPUIFWBMVF
    TPMJE

    5IF XJEUI Q BOE IFJHIU Q BUUSJCVUFTPO BQQMFU Q FNCFE Q JGSBNF Q JNH Q PCKFDU Q PS WJEFP Q FMFNFOUT
    BOE JOQVU Q FMFNFOUTXJUIB UZQF Q BUUSJCVUFJOUIF *NBHF#VUUPO Q TUBUF NBQUPUIFEJNFOTJPOQSPQFSUJFT Q
    XJEUIBOEIFJHIUPOUIFFMFNFOUSFTQFDUJWFMZ

       %G;A?G;JM

    4IBQFTPOBO JNBHFNBQ Q BSFFYQFDUFEUPBDU GPSUIFQVSQPTFPGUIF$44DBTDBEF BTFMFNFOUTJOEFQFOEFOUPGUIF


    PSJHJOBM BSFB Q FMFNFOUUIBUIBQQFOUPNBUDIUIFTBNFTUZMFSVMFTCVUJOIFSJUGSPNUIF JNH Q PS PCKFDU Q FMFNFOU

    'PSUIFQVSQPTFTPGUIFSFOEFSJOH POMZUIFDVSTPSQSPQFSUZJTFYQFDUFEUPIBWFBOZFЗFDUPOUIFTIBQF

    5IVT GPSFYBNQMF JGBO BSFB Q FMFNFOUIBTB TUZMF Q BUUSJCVUFUIBUTFUTUIFDVSTPSQSPQFSUZUPIFMQ UIFO
    XIFOUIFVTFSEFTJHOBUFTUIBUTIBQF UIFDVSTPSXPVMEDIBOHFUPB)FMQDVSTPS

    4JNJMBSMZ JGBO BSFB Q FMFNFOUIBEB$44SVMFUIBUTFUJUTDVSTPSQSPQFSUZUPJOIFSJU PSJGOPSVMFTFUUJOHUIF


    DVSTPSQSPQFSUZNBUDIFEUIFFMFNFOUBUBMM
    UIFTIBQFTDVSTPSXPVMECFJOIFSJUFEGSPNUIF JNH Q PS
    PCKFDU Q FMFNFOUPGUIF JNBHFNBQ Q OPUGSPNUIFQBSFOUPGUIF BSFB Q FMFNFOU

       0IIF<;LM

    8IFOB NFOV Q FMFNFOUT UZQF Q BUUSJCVUFJTJOUIF UPPMCBS Q TUBUF UIFFMFNFOUJTFYQFDUFEUPCFUSFBUFEBTB
    SFQMBDFEFMFNFOUXJUIBIFJHIUBCPVUUXPMJOFTIJHIBOEBXJEUIEFSJWFEGSPNUIFDPOUFOUTPGUIFFMFNFOU

    
    5IFFMFNFOUJTFYQFDUFEUPIBWF CZEFGBVMU UIFBQQFBSBODFPGBUPPMCBSPOUIFVTFSBHFOUTQMBUGPSN*UJTFYQFDUFE
    UPDPOUBJOUIFNFOVUIBUJT CVJMU Q GSPNUIFFMFNFOU

      CH>CHAM

       %HNLI>O=NCIH

    "OVNCFSPGFMFNFOUTIBWFUIFJSSFOEFSJOHEFИOFEJOUFSNTPGUIFCJOEJOHQSPQFSUZ <#&$44> Q

    5IF$44TOJQQFUTCFMPXTFUUIFCJOEJOHQSPQFSUZUPBVTFSBHFOUEFИOFEWBMVF SFQSFTFOUFECFMPXCZLFZXPSETMJLF
    -,,'&5IFSVMFTUIFOEFTDSJCFEGPSUIFTFCJOEJOHTBSFPOMZFYQFDUFEUPBQQMZJGUIFFMFNFOUTCJOEJOHQSPQFSUZIBT
    OPUCFFOPWFSSJEEFO FHCZUIFBVUIPS
    UPIBWFBOPUIFSWBMVF

    &YBDUMZIPXUIFCJOEJOHTBSFJNQMFNFOUFEJTOPUTQFDJИFECZUIJTTQFDJИDBUJPO6TFSBHFOUTBSFFODPVSBHFEUPNBLF
    UIFJSCJOEJOHTTFUUIFBQQFBSBODF$44QSPQFSUZBQQSPQSJBUFMZUPBDIJFWFQMBUGPSNOBUJWFBQQFBSBODFTGPSXJEHFUT
    BOEBSFFYQFDUFEUPJNQMFNFOUBOZSFMFWBOUBOJNBUJPOT FUD UIBUBSFBQQSPQSJBUFGPSUIFQMBUGPSN <$446*> Q

       0B? =POOJI K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    CVUUPO\CJOEJOH -,,'&^

    8IFOUIF 1DCC>= CJOEJOHBQQMJFTUPB CVUUPO Q FMFNFOU UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPY


    SFOEFSFEBTBCVUUPOXIPTFDPOUFOUTBSFUIFDPOUFOUTPGUIFFMFNFOU

       0B? ?@O<DGN K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    EFUBJMT\CJOEJOH ,"$+^

    8IFOUIF 34C08;B CJOEJOHBQQMJFTUPB EFUBJMT Q FMFNFOU UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBCMPDLCPYXJUIJUT


    QBEEJOHMFGUQSPQFSUZTFUUPQYGPSMFGUUPSJHIUFMFNFOUT -53TQFDJИD Q
    BOEXJUIJUTQBEEJOHSJHIUQSPQFSUZTFU
    UPQYGPSSJHIUUPMFGUFMFNFOUT5IFFMFNFOUTTIBEPXUSFFJTFYQFDUFEUPUBLFUIFFMFNFOUTИSTUDIJME TVNNBSZ Q
    FMFNFOU JGBOZ BOEQMBDFJUJOBИSTUCMPDLCPYDPOUBJOFS BOEUIFOUBLFUIFFMFNFOUTSFNBJOJOHEFTDFOEBOUT JGBOZ
    BOEQMBDFUIFNJOBTFDPOECMPDLCPYDPOUBJOFS

    5IFИSTUDPOUBJOFSJTFYQFDUFEUPDPOUBJOBUMFBTUPOFMJOFCPY BOEUIBUMJOFCPYJTFYQFDUFEUPDPOUBJOBEJTDMPTVSF
    XJEHFU UZQJDBMMZBUSJBOHMF
    IPSJ[POUBMMZQPTJUJPOFEXJUIJOUIFMFGUQBEEJOHPGUIF EFUBJMT Q FMFNFOU5IBUXJEHFUJT
    FYQFDUFEUPBMMPXUIFVTFSUPSFRVFTUUIBUUIFEFUBJMTCFTIPXOPSIJEEFO

    5IFTFDPOEDPOUBJOFSJTFYQFDUFEUPIBWFJUTPWFSЙPXQSPQFSUZTFUUPIJEEFO8IFOUIF EFUBJMT Q FMFNFOUEPFT


    OPUIBWFBO PQFO Q BUUSJCVUF UIJTTFDPOEDPOUBJOFSJTFYQFDUFEUPCFSFNPWFEGSPNUIFSFOEFSJOH

       0B? DIKPO K ?F?G?HN;M;N?RN?HNLSQC>A?N

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    JOQVU\CJOEJOH "&(-,,0,"$^
    JOQVU<UZQFQBTTXPSE>\CJOEJOH "&(-,(++/'*^ DBTFJOTFOTJUJWF 
     MBUFSSVMFTPWFSSJEFUIJTGPSPUIFSWBMVFTPGUZQF 

    8IFOUIF 8=?DCC4GCP4;3 CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 5FYU Q 4FBSDI Q
    5FMFQIPOF Q 63- Q PS &NBJM Q TUBUF UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYSFOEFSFEBTBUFYU
    ИFME

    8IFOUIF 8=?DC?0BBF>A3 CJOEJOHBQQMJFT UPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 1BTTXPSE Q
    TUBUF UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYSFOEFSFEBTBUFYUИFMEXIPTFDPOUFOUTBSFPCTDVSFE

    
    *GBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOPOFPGUIFBCPWFTUBUFTIBTB TJ[F Q BUUSJCVUF BOEQBSTJOHUIBU
    BUUSJCVUFTWBMVFVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q EPFTOUHFOFSBUFBOFSSPS UIFOUIFVTFSBHFOUJT
    FYQFDUFEUPVTFUIFBUUSJCVUFBTB QSFTFOUBUJPOBMIJOU Q GPSUIFXJEUIQSPQFSUZPOUIFFMFNFOU XJUIUIFWBMVF
    PCUBJOFEGSPNBQQMZJOHUIF DPOWFSUJOHBDIBSBDUFSXJEUIUPQJYFMT Q BMHPSJUINUPUIFWBMVFPGUIFBUUSJCVUF

    *GBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOPOFPGUIFBCPWFTUBUFTEPFT =>C IBWFB TJ[F Q BUUSJCVUF UIFO
    UIFVTFSBHFOUJTFYQFDUFEUPBDUBTJGJUIBEBVTFSBHFOUMFWFMTUZMFTIFFUSVMFTFUUJOHUIFXJEUIQSPQFSUZPOUIF
    FMFNFOUUPUIFWBMVFPCUBJOFEGSPNBQQMZJOHUIF DPOWFSUJOHBDIBSBDUFSXJEUIUPQJYFMT Q BMHPSJUINUPUIFOVNCFS
    

    5IF =IHP?LNCHA;=B;L;=N?LQC>NBNIJCR?FM BMHPSJUINSFUVSOT B8I4


    •0E6 <0G XIFSF B8I4 JTUIFDIBSBDUFS
    XJEUIUPDPOWFSU 0E6 JTUIFBWFSBHFDIBSBDUFSXJEUIPGUIFQSJNBSZGPOUGPSUIFFMFNFOUGPSXIJDIUIFBMHPSJUINJT
    CFJOHSVO JOQJYFMT BOE <0G JTUIFNBYJNVNDIBSBDUFSXJEUIPGUIBUTBNFGPOU BMTPJOQJYFMT 5IFFMFNFOUTMFUUFS
    TQBDJOHQSPQFSUZEPFTOPUBЗFDUUIFSFTVMU

       0B? DIKPO K ?F?G?HN;M>IG;CH MJ?=C]=QC>A?NM

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    JOQVU<UZQFEBUFUJNF>\CJOEJOH "&(-,,,"%^ DBTFJOTFOTJUJWF 


    JOQVU<UZQFEBUF>\CJOEJOH "&(-,,^ DBTFJOTFOTJUJWF 
    JOQVU<UZQFNPOUI>\CJOEJOH "&(-,%'&,!^ DBTFJOTFOTJUJWF 
    JOQVU<UZQFXFFL>\CJOEJOH "&(-,/#^ DBTFJOTFOTJUJWF 
    JOQVU<UZQFUJNF>\CJOEJOH "&(-,,"%^ DBTFJOTFOTJUJWF 
    JOQVU<UZQFEBUFUJNFMPDBM>\CJOEJOH "&(-,,,"%$'$^ DBTFJOTFOTJUJWF 
    JOQVU<UZQFOVNCFS>\CJOEJOH "&(-,&-%*^ DBTFJOTFOTJUJWF 

    8IFOUIF 8=?DC30C4C8<4 CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF %BUFBOE5JNF Q
    TUBUF UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYEFQJDUJOHB%BUFBOE5JNFDPOUSPM

    8IFOUIF 8=?DC30C4 CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF %BUF Q TUBUF UIF
    FMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYEFQJDUJOHB%BUFDPOUSPM

    8IFOUIF 8=?DC<>=C7 CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF .POUI Q TUBUF UIF
    FMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYEFQJDUJOHB.POUIDPOUSPM

    8IFOUIF 8=?DCF44: CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 8FFL Q TUBUF UIF
    FMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYEFQJDUJOHB8FFLDPOUSPM

    8IFOUIF 8=?DCC8<4 CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 5JNF Q TUBUF UIF
    FMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYEFQJDUJOHB5JNFDPOUSPM

    8IFOUIF 8=?DC30C4C8<4;>20; CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF -PDBM%BUF
    BOE5JNF Q TUBUF UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYEFQJDUJOHB-PDBM%BUFBOE5JNFDPOUSPM

    8IFOUIF 8=?DC=D<14A CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF /VNCFS Q TUBUF
    UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYEFQJDUJOHB/VNCFSDPOUSPM

    5IFTFDPOUSPMTBSFBMMFYQFDUFEUPCFBCPVUPOFMJOFIJHI BOEBCPVUBTXJEFBTOFDFTTBSZUPTIPXUIFXJEFTUQPTTJCMF
    WBMVF

       0B? DIKPO K ?F?G?HN;M;L;HA?=IHNLIF

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    JOQVU<UZQFSBOHF>\CJOEJOH "&(-,*& ^ DBTFJOTFOTJUJWF 

    8IFOUIF 8=?DCA0=64 CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 3BOHF Q TUBUF UIF
    FMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYEFQJDUJOHBTMJEFSDPOUSPM

    8IFOUIFDPOUSPMJTXJEFSUIBOJUJTUBMM PSTRVBSF
    UIFDPOUSPMJTFYQFDUFEUPCFBIPSJ[POUBMTMJEFS XJUIUIFMPXFTU
    WBMVFPOUIFSJHIUJGUIFEJSFDUJPOQSPQFSUZPOUIJTFMFNFOUIBTBDPNQVUFEWBMVFPGSUM BOEPOUIFMFGUPUIFSXJTF
    8IFOUIFDPOUSPMJTUBMMFSUIBOJUJTXJEF JUJTFYQFDUFEUPCFBWFSUJDBMTMJEFS XJUIUIFMPXFTUWBMVFPOUIFCPUUPN

    
    1SFEFИOFETVHHFTUFEWBMVFT QSPWJEFECZUIF MJTU Q BUUSJCVUF
    BSFFYQFDUFEUPCFTIPXOBTUJDLNBSLTPOUIFTMJEFS
    XIJDIUIFTMJEFSDBOTOBQUP

       0B? DIKPO K ?F?G?HN;M;=IFILQ?FF

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    JOQVU<UZQFDPMPS>\CJOEJOH "&(-,'$'*^ DBTFJOTFOTJUJWF 

    8IFOUIF 8=?DC2>;>A CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF $PMPS Q TUBUF UIF
    FMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYEFQJDUJOHBDPMPSXFMM XIJDI XIFOBDUJWBUFE QSPWJEFTUIFVTFS
    XJUIBDPMPSQJDLFS FHBDPMPSXIFFMPSDPMPSQBMFUUF
    GSPNXIJDIUIFDPMPSDBOCFDIBOHFE

    1SFEFИOFETVHHFTUFEWBMVFT QSPWJEFECZUIF MJTU Q BUUSJCVUF


    BSFFYQFDUFEUPCFTIPXOJOUIFDPMPSQJDLFS
    JOUFSGBDF OPUPOUIFDPMPSXFMMJUTFMG

       0B? DIKPO K ?F?G?HN;M;=B?=E<IR;H>L;>CI<ONNIHQC>A?NM

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    JOQVU<UZQFDIFDLCPY>\CJOEJOH "&(-,!#'0^ DBTFJOTFOTJUJWF 


    JOQVU<UZQFSBEJP>\CJOEJOH "&(-,*"'^ DBTFJOTFOTJUJWF 

    8IFOUIF 8=?DC2742:1>G CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF $IFDLCPY Q
    TUBUF UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYDPOUBJOJOHBTJOHMFDIFDLCPYDPOUSPM XJUIOPMBCFM

    8IFOUIF 8=?DCA038> CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 3BEJP#VUUPO Q TUBUF
    UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYDPOUBJOJOHBTJOHMFSBEJPCVUUPODPOUSPM XJUIOPMBCFM

       0B? DIKPO K ?F?G?HN;M;]F?OJFI;>=IHNLIF

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    JOQVU<UZQFGJMF>\CJOEJOH "&(-,"$^ DBTFJOTFOTJUJWF 

    8IFOUIF 8=?DCP;4 CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 'JMF6QMPBE Q TUBUF UIF
    FMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYDPOUBJOJOHBTQBOPGUFYUHJWJOHUIFИMFOBNF T
    PGUIF TFMFDUFE
    ИMFT Q JGBOZ GPMMPXFECZBCVUUPOUIBU XIFOBDUJWBUFE QSPWJEFTUIFVTFSXJUIBИMFQJDLFSGSPNXIJDIUIFTFMFDUJPO
    DBOCFDIBOHFE

       0B? DIKPO K ?F?G?HN;M;<ONNIH

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    JOQVU<UZQFTVCNJU> JOQVU<UZQFSFTFU> JOQVU<UZQFCVUUPO>\ DBTFJOTFOTJUJWF 


    CJOEJOH "&(-,-,,'&
    ^

    8IFOUIF 8=?DC1DCC>= CJOEJOHBQQMJFTUPBO JOQVU Q FMFNFOUXIPTF UZQF Q BUUSJCVUFJTJOUIF 4VCNJU#VUUPO Q
    3FTFU#VUUPO Q PS #VUUPO Q TUBUF UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYSFOEFSFEBTBCVUUPO
    BCPVUPOFMJOFIJHI DPOUBJOJOHUIFDPOUFOUTPGUIFFMFNFOUT WBMVF Q BUUSJCVUF JGBOZ PSUFYUEFSJWFEGSPNUIF
    FMFNFOUT UZQF Q BUUSJCVUFJOBVTFSBHFOUEFИOFE BOEQSPCBCMZMPDBMFTQFDJИD
    GBTIJPO JGOPU

       0B? H<MLP@@ K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    NBSRVFF\

    
    CJOEJOH %*)-
    ^

    8IFOUIF <0A@D44 CJOEJOHBQQMJFTUPB NBSRVFF Q FMFNFOU XIJMFUIFFMFNFOUJT UVSOFEPO Q UIFFMFNFOUJT
    FYQFDUFEUPSFOEFSJOBOBOJNBUFEGBTIJPOBDDPSEJOHUPJUTBUUSJCVUFTBTGPMMPXT

    %@NB??F?G?HNM =@C<QDJM K ;NNLC<ON?CMCHNB? M=LIFF J MN;N?


    4MJEFUIFDPOUFOUTPGUIFFMFNFOUJOUIFEJSFDUJPOEFTDSJCFECZUIF EJSFDUJPO Q BUUSJCVUFBTEFИOFECFMPX
    TVDIUIBUJUCFHJOTPЗUIFTUBSUTJEFPGUIF NBSRVFF Q BOEFOETЙVTIXJUIUIFJOOFSFOETJEF

    'PSFYBNQMF JGUIF EJSFDUJPO Q BUUSJCVUFJT MFGU Q UIFEFGBVMU


    UIFOUIFDPOUFOUTXPVMETUBSUTVDIUIBU
    UIFJSMFGUFEHFBSFPЗUIFTJEFPGUIFSJHIUFEHFPGUIF NBSRVFF Q TDPOUFOUBSFB BOEUIFDPOUFOUTXPVME
    UIFOTMJEFVQUPUIFQPJOUXIFSFUIFMFGUFEHFPGUIFDPOUFOUTBSFЙVTIXJUIUIFMFGUJOOFSFEHFPGUIF
    NBSRVFF Q TDPOUFOUBSFB

    0ODFUIFBOJNBUJPOIBTFOEFE UIFVTFSBHFOUJTFYQFDUFEUP JODSFNFOUUIFNBSRVFFDVSSFOUMPPQJOEFY Q *G


    UIFFMFNFOUJTTUJMM UVSOFEPO Q BGUFSUIJT UIFOUIFVTFSBHFOUJTFYQFDUFEUPSFTUBSUUIFBOJNBUJPO

    %@NB??F?G?HNM =@C<QDJM K ;NNLC<ON?CMCHNB? MFC>? J MN;N?


    4MJEFUIFDPOUFOUTPGUIFFMFNFOUJOUIFEJSFDUJPOEFTDSJCFECZUIF EJSFDUJPO Q BUUSJCVUFBTEFИOFECFMPX
    TVDIUIBUJUCFHJOTPЗUIFTUBSUTJEFPGUIF NBSRVFF Q BOEFOETPЗUIFFOETJEFPGUIF NBSRVFF Q 

    'PSFYBNQMF JGUIF EJSFDUJPO Q BUUSJCVUFJT MFGU Q UIFEFGBVMU


    UIFOUIFDPOUFOUTXPVMETUBSUTVDIUIBU
    UIFJSMFGUFEHFBSFPЗUIFTJEFPGUIFSJHIUFEHFPGUIF NBSRVFF Q TDPOUFOUBSFB BOEUIFDPOUFOUTXPVME
    UIFOTMJEFVQUPUIFQPJOUXIFSFUIF A867C FEHFPGUIFDPOUFOUTBSFЙVTIXJUIUIFMFGUJOOFSFEHFPGUIF
    NBSRVFF Q TDPOUFOUBSFB

    0ODFUIFBOJNBUJPOIBTFOEFE UIFVTFSBHFOUJTFYQFDUFEUP JODSFNFOUUIFNBSRVFFDVSSFOUMPPQJOEFY Q *G


    UIFFMFNFOUJTTUJMM UVSOFEPO Q BGUFSUIJT UIFOUIFVTFSBHFOUJTFYQFDUFEUPSFTUBSUUIFBOJNBUJPO

    %@NB??F?G?HNM =@C<QDJM K ;NNLC<ON?CMCHNB? ;FN?LH;N? J MN;N?


    8IFOUIF NBSRVFFDVSSFOUMPPQJOEFY Q JTFWFO PS[FSP
    TMJEFUIFDPOUFOUTPGUIFFMFNFOUJOUIFEJSFDUJPO
    EFTDSJCFECZUIF EJSFDUJPO Q BUUSJCVUFBTEFИOFECFMPX TVDIUIBUJUCFHJOTЙVTIXJUIUIFTUBSUTJEFPGUIF
    NBSRVFF Q BOEFOETЙVTIXJUIUIFFOETJEFPGUIF NBSRVFF Q 

    8IFOUIF NBSRVFFDVSSFOUMPPQJOEFY Q JTPEE TMJEFUIFDPOUFOUTPGUIFFMFNFOUJOUIFPQQPTJUFEJSFDUJPOUIBO


    UIBUEFTDSJCFECZUIF EJSFDUJPO Q BUUSJCVUFBTEFИOFECFMPX TVDIUIBUJUCFHJOTЙVTIXJUIUIFFOETJEFPGUIF
    NBSRVFF Q BOEFOETЙVTIXJUIUIFTUBSUTJEFPGUIF NBSRVFF Q 

    'PSFYBNQMF JGUIF EJSFDUJPO Q BUUSJCVUFJT MFGU Q UIFEFGBVMU


    UIFOUIFDPOUFOUTXPVMEXJUIUIFJSSJHIU
    FEHFЙVTIXJUIUIFSJHIUJOOFSFEHFPGUIF NBSRVFF Q TDPOUFOUBSFB BOEUIFDPOUFOUTXPVMEUIFOTMJEF
    VQUPUIFQPJOUXIFSFUIF ;45C FEHFPGUIFDPOUFOUTBSFЙVTIXJUIUIFMFGUJOOFSFEHFPGUIF NBSRVFF Q T
    DPOUFOUBSFB

    0ODFUIFBOJNBUJPOIBTFOEFE UIFVTFSBHFOUJTFYQFDUFEUP JODSFNFOUUIFNBSRVFFDVSSFOUMPPQJOEFY Q *G


    UIFFMFNFOUJTTUJMM UVSOFEPO Q BGUFSUIJT UIFOUIFVTFSBHFOUJTFYQFDUFEUPDPOUJOVFUIFBOJNBUJPO

    5IF EJSFDUJPO Q BUUSJCVUFIBTUIFNFBOJOHTEFTDSJCFEJOUIFGPMMPXJOHUBCMF

    ?DM@>ODJI K ;NNLC<ON?MN;N? CL?=NCIHI@;HCG;NCIH /N;LN?>A? !H>?>A? +JJIMCN?>CL?=NCIH

    MFGU Q ȵ3JHIUUPMFGU 3JHIU -FGU ȷ-FGUUP3JHIU


    SJHIU Q ȷ-FGUUP3JHIU -FGU 3JHIU ȵ3JHIUUPMFGU
    VQ Q ȶ6Q #PUUPNUP5PQ
    #PUUPN 5PQ ȸ%PXO 5PQUP#PUUPN

    EPXO Q ȸ%PXO 5PQUP#PUUPN


    5PQ #PUUPN ȶ6Q #PUUPNUP5PQ

    *OBOZDBTF UIFBOJNBUJPOTIPVMEQSPDFFETVDIUIBUUIFSFJTBEFMBZHJWFOCZUIF NBSRVFFTDSPMMJOUFSWBM Q CFUXFFO


    FBDIGSBNF BOETVDIUIBUUIFDPOUFOUNPWFTBUNPTUUIFEJTUBODFHJWFOCZUIF NBSRVFFTDSPMMEJTUBODF Q XJUIFBDI
    GSBNF

    8IFOB NBSRVFF Q FMFNFOUIBTB CHDPMPS BUUSJCVUFTFU UIFWBMVFJTFYQFDUFEUPCFQBSTFEVTJOHUIF SVMFTGPS


    QBSTJOHBMFHBDZDPMPSWBMVF Q BOEJGUIBUEPFTOPUSFUVSOBOFSSPS UIFVTFSBHFOUJTFYQFDUFEUPUSFBUUIFBUUSJCVUFBT
    B QSFTFOUBUJPOBMIJOU Q TFUUJOHUIFFMFNFOUTCBDLHSPVOEDPMPSQSPQFSUZUPUIFSFTVMUJOHDPMPS

    5IF XJEUI BOE IFJHIU BUUSJCVUFTPOB NBSRVFF Q FMFNFOU NBQUPUIFEJNFOTJPOQSPQFSUJFT Q XJEUIBOEIFJHIUPO
    UIFFMFNFOUSFTQFDUJWFMZ

    
    5IFJOUSJOTJDIFJHIUPGB NBSRVFF Q FMFNFOUXJUIJUT EJSFDUJPO Q BUUSJCVUFJOUIF VQ Q PS EPXO Q TUBUFTJT
    $44QJYFMT

    5IF WTQBDF BUUSJCVUFPGB NBSRVFF Q FMFNFOU NBQTUPUIFEJNFOTJPOQSPQFSUJFT Q NBSHJOUPQBOENBSHJOCPUUPN


    POUIFFMFNFOU5IF ITQBDF BUUSJCVUFPGB NBSRVFF Q FMFNFOU NBQTUPUIFEJNFOTJPOQSPQFSUJFT Q NBSHJOMFGUBOE
    NBSHJOSJHIUPOUIFFMFNFOU

    5IFPWFSЙPXQSPQFSUZPOUIF NBSRVFF Q FMFNFOUJTFYQFDUFEUPCFJHOPSFEPWFSЙPXJTFYQFDUFEUPBMXBZTCF


    IJEEFO

       0B? H@O@M K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    NFUFS\
    CJOEJOH %,*
    ^

    8IFOUIF <4C4A CJOEJOHBQQMJFTUPB NFUFS Q FMFNFOU UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYXJUI


    BIFJHIUPGFNBOEBXJEUIPGFN BWFSUJDBMBMJHOPGFN BOEXJUIJUTDPOUFOUTEFQJDUJOHBHBVHF

    8IFOUIFFMFNFOUJTXJEFSUIBOJUJTUBMM PSTRVBSF
    UIFEFQJDUJPOJTFYQFDUFEUPCFPGBIPSJ[POUBMHBVHF XJUIUIF
    NJOJNVNWBMVFPOUIFSJHIUJGUIFEJSFDUJPOQSPQFSUZPOUIJTFMFNFOUIBTBDPNQVUFEWBMVFPGSUM BOEPOUIFMFGU
    PUIFSXJTF8IFOUIFFMFNFOUJTUBMMFSUIBOJUJTXJEF JUJTFYQFDUFEUPEFQJDUBWFSUJDBMHBVHF XJUIUIFNJOJNVNWBMVF
    POUIFCPUUPN

    6TFSBHFOUTBSFFYQFDUFEUPVTFBQSFTFOUBUJPODPOTJTUFOUXJUIQMBUGPSNDPOWFOUJPOTGPSHBVHFT JGBOZ

    *HM> .>JNBK>F>GML?HKPA:MFNLM;>=>IB<M>=BGMA>@:N@>:K>BG<EN=>=BGMA>=>[GBMBHGH?MA>
    F>M>K I >E>F>GM

       0B? KMJBM@NN K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    QSPHSFTT\
    CJOEJOH (*' *++
    ^

    8IFOUIF ?A>6A4BB CJOEJOHBQQMJFTUPB QSPHSFTT Q FMFNFOU UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDL


    CPYXJUIBIFJHIUPGFNBOEBXJEUIPGFN BWFSUJDBMBMJHOPGFN BOEXJUIJUTDPOUFOUTEFQJDUJOHB
    IPSJ[POUBMQSPHSFTTCBS XJUIUIFTUBSUPOUIFSJHIUBOEUIFFOEPOUIFMFGUJGUIFEJSFDUJPOQSPQFSUZPOUIJTFMFNFOU
    IBTBDPNQVUFEWBMVFPGSUM BOEXJUIUIFTUBSUPOUIFMFGUBOEUIFFOEPOUIFSJHIUPUIFSXJTF

    6TFSBHFOUTBSFFYQFDUFEUPVTFBQSFTFOUBUJPODPOTJTUFOUXJUIQMBUGPSNDPOWFOUJPOTGPSQSPHSFTTCBST*OQBSUJDVMBS
    VTFSBHFOUTBSFFYQFDUFEUPVTFEJЗFSFOUQSFTFOUBUJPOTGPSEFUFSNJOBUFBOEJOEFUFSNJOBUFQSPHSFTTCBST6TFSBHFOUT
    BSFBMTPFYQFDUFEUPWBSZUIFQSFTFOUBUJPOCBTFEPOUIFEJNFOTJPOTPGUIFFMFNFOU

    'PSFYBNQMF POTPNFQMBUGPSNTGPSTIPXJOHJOEFUFSNJOBUFQSPHSFTTUIFSFJTBOBTZODISPOPVTQSPHSFTTJOEJDBUPS
    XJUITRVBSFEJNFOTJPOT XIJDIDPVMECFVTFEXIFOUIFFMFNFOUJTTRVBSF BOEBOJOEFUFSNJOBUFQSPHSFTTCBS
    XIJDIDPVMECFVTFEXIFOUIFFMFNFOUJTXJEF

    *HM> .>JNBK>F>GML?HKAHPMH=>M>KFBG>B?MA>IKH@K>LL;:KBL=>M>KFBG:M>HKBG=>M>KFBG:M> :G=


    PA:MIKH@K>LL:=>M>KFBG:M>IKH@K>LL;:KBLMHLAHP :K>BG<EN=>=BGMA>=>[GBMBHGH?MA>
    IKH@K>LL I >E>F>GM

       0B? N@G@>O K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    TFMFDU\

    
    CJOEJOH +$,
    ^

    8IFOUIF B4;42C CJOEJOHBQQMJFTUPB TFMFDU Q FMFNFOUXIPTF NVMUJQMF Q BUUSJCVUFJTQSFTFOU UIFFMFNFOUJT
    FYQFDUFEUPSFOEFSBTBNVMUJTFMFDUMJTUCPY

    8IFOUIF B4;42C CJOEJOHBQQMJFTUPB TFMFDU Q FMFNFOUXIPTF NVMUJQMF Q BUUSJCVUFJTBCTFOU BOEUIFFMFNFOUT
    TJ[F Q BUUSJCVUF TQFDJИFT Q BWBMVFHSFBUFSUIBO UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBTJOHMFTFMFDUMJTUCPY

    8IFOUIFFMFNFOUSFOEFSTBTBMJTUCPY JUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPYXIPTFIFJHIUJTUIFIFJHIU
    OFDFTTBSZUPDPOUBJOBTNBOZSPXTGPSJUFNTBT TQFDJИFE Q CZUIFFMFNFOUT TJ[F Q BUUSJCVUF PSGPVSSPXTJGUIF
    BUUSJCVUFJTBCTFOU BOEXIPTFXJEUIJTUIF XJEUIPGUIF TFMFDUTMBCFMT Q QMVTUIFXJEUIPGBTDSPMMCBS

    8IFOUIF B4;42C CJOEJOHBQQMJFTUPB TFMFDU Q FMFNFOUXIPTF NVMUJQMF Q BUUSJCVUFJTBCTFOU BOEUIFFMFNFOUT
    TJ[F Q BUUSJCVUFJTFJUIFSBCTFOUPS TQFDJИFT Q FJUIFSOPWBMVF BOFSSPS
    PSBWBMVFMFTTUIBOPSFRVBMUP UIF
    FMFNFOUJTFYQFDUFEUPSFOEFSBTBPOFMJOFESPQEPXOCPYXIPTFXJEUIJTUIF XJEUIPGUIF TFMFDUTMBCFMT Q 

    *OFJUIFSDBTF MJTUCPYPSESPQEPXOCPY
    UIFFMFNFOUTJUFNTBSFFYQFDUFEUPCFUIFFMFNFOUT MJTUPGPQUJPOT Q XJUI
    UIFFMFNFOUT PQUHSPVQ Q FMFNFOUDIJMESFOQSPWJEJOHIFBEFSTGPSHSPVQTPGPQUJPOTXIFSFBQQMJDBCMF

    5IF QC>NBI@NB? N@G@>OMF;<?FM JTUIFXJEFSPGUIFXJEUIOFDFTTBSZUPSFOEFSUIFXJEFTU PQUHSPVQ Q BOEUIF


    XJEUIOFDFTTBSZUPSFOEFSUIFXJEFTU PQUJPO Q FMFNFOUJOUIFFMFNFOUT MJTUPGPQUJPOT Q JODMVEJOHJUTJOEFOU JG
    BOZ
    

    "O PQUHSPVQ Q FMFNFOUJTFYQFDUFEUPCFSFOEFSFECZEJTQMBZJOHUIFFMFNFOUT MBCFM Q BUUSJCVUF

    "O PQUJPO Q FMFNFOUJTFYQFDUFEUPCFSFOEFSFECZEJTQMBZJOHUIFFMFNFOUT MBCFM Q JOEFOUFEVOEFSJUT


    PQUHSPVQ Q FMFNFOUJGJUIBTPOF

       0B? O@SO<M@< K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    UFYUBSFB\CJOEJOH ,0,*^

    8IFOUIF C4GC0A40 CJOEJOHBQQMJFTUPB UFYUBSFB Q FMFNFOU UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDL


    CPYSFOEFSFEBTBNVMUJMJOFUFYUИFME

    *GUIFFMFNFOUIBTB DPMT Q BUUSJCVUF BOEQBSTJOHUIBUBUUSJCVUFTWBMVFVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWF


    JOUFHFST Q EPFTOUHFOFSBUFBOFSSPS UIFOUIFVTFSBHFOUJTFYQFDUFEUPVTFUIFBUUSJCVUFBTB QSFTFOUBUJPOBMIJOU Q
    GPSUIFXJEUIQSPQFSUZPOUIFFMFNFOU XJUIUIFWBMVFCFJOHUIF UFYUBSFBFЗFDUJWFXJEUI Q BTEFИOFECFMPX
    
    0UIFSXJTF UIFVTFSBHFOUJTFYQFDUFEUPBDUBTJGJUIBEBVTFSBHFOUMFWFMTUZMFTIFFUSVMFTFUUJOHUIFXJEUIQSPQFSUZ
    POUIFFMFNFOUUPUIF UFYUBSFBFЗFDUJWFXJEUI Q 

    5IF N?RN;L?;?\?=NCP?QC>NB PGB UFYUBSFB Q FMFNFOUJT B8I4•0E6 B1F XIFSF B8I4 JTUIFFMFNFOUT DIBSBDUFS
    XJEUI Q 0E6 JTUIFBWFSBHFDIBSBDUFSXJEUIPGUIFQSJNBSZGPOUPGUIFFMFNFOU JO$44QJYFMT BOE B1F JTUIFXJEUIPG
    BTDSPMMCBS JO$44QJYFMT 5IFFMFNFOUTMFUUFSTQBDJOHQSPQFSUZEPFTOPUBЗFDUUIFSFTVMU

    *GUIFFMFNFOUIBTB SPXT Q BUUSJCVUF BOEQBSTJOHUIBUBUUSJCVUFTWBMVFVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWF


    JOUFHFST Q EPFTOUHFOFSBUFBOFSSPS UIFOUIFVTFSBHFOUJTFYQFDUFEUPVTFUIFBUUSJCVUFBTB QSFTFOUBUJPOBMIJOU Q
    GPSUIFIFJHIUQSPQFSUZPOUIFFMFNFOU XJUIUIFWBMVFCFJOHUIF UFYUBSFBFЗFDUJWFIFJHIU Q BTEFИOFECFMPX
    
    0UIFSXJTF UIFVTFSBHFOUJTFYQFDUFEUPBDUBTJGJUIBEBVTFSBHFOUMFWFMTUZMFTIFFUSVMFTFUUJOHUIFIFJHIUQSPQFSUZ
    POUIFFMFNFOUUPUIF UFYUBSFBFЗFDUJWFIFJHIU Q 

    5IF N?RN;L?;?\?=NCP?B?CABN PGB UFYUBSFB Q FMFNFOUJTUIFIFJHIUJO$44QJYFMTPGUIFOVNCFSPGMJOFTTQFDJИFE


    UIFFMFNFOUT DIBSBDUFSIFJHIU Q QMVTUIFIFJHIUPGBTDSPMMCBSJO$44QJYFMT

    'PSIJTUPSJDBMSFBTPOT JGUIFFMFNFOUIBTB XSBQ Q BUUSJCVUFXIPTFWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIF


    TUSJOHPGG UIFOUIFVTFSBHFOUJTFYQFDUFEUPOPUXSBQUIFSFOEFSFEWBMVFPUIFSXJTF UIFWBMVFPGUIFDPOUSPMJT
    FYQFDUFEUPCFXSBQQFEUPUIFXJEUIPGUIFDPOUSPM

    
       0B? F@TB@I K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    LFZHFO\CJOEJOH #1 &^

    8IFOUIF :4H64= CJOEJOHBQQMJFTUPB LFZHFO Q FMFNFOU UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTBOJOMJOFCMPDLCPY


    DPOUBJOJOHBVTFSJOUFSGBDFUPDPOИHVSFUIFLFZQBJSUPCFHFOFSBUFE

       0B? ODH@ K ?F?G?HN

    !OBNFTQBDFVSM IUUQXXXXPSHYIUNM
    

    UJNFFNQUZ\CJOEJOH ,"%^

    8IFOUIF C8<4 CJOEJOHBQQMJFTUPB UJNF Q FMFNFOU UIFFMFNFOUJTFYQFDUFEUPSFOEFSBTJGJUDPOUBJOFEUFYU


    DPOWFZJOHUIF EBUF Q JGLOPXO
    UJNF Q JGLOPXO
    BOE UJNF[POFPЗTFU Q JGLOPXO
    SFQSFTFOUFECZUIFFMFNFOU
    JOUIFGBTIJPONPTUDPOWFOJFOUGPSUIFVTFS

      "L;G?M;H>@L;G?M?NM

    8IFOBO IUNM Q FMFNFOUTTFDPOEDIJMEFMFNFOUJTB GSBNFTFU Q FMFNFOU UIFVTFSBHFOUJTFYQFDUFEUPSFOEFSUIF


    GSBNFTFU Q FMFNFOUBTEFTDSJCFECFMPXBDSPTTUIFTVSGBDFPGUIFWJFXQPSU JOTUFBEPGBQQMZJOHUIFVTVBM$44
    SFOEFSJOHSVMFT

    8IFOSFOEFSJOHB GSBNFTFU Q POBTVSGBDF UIFVTFSBHFOUJTFYQFDUFEUPVTFUIFGPMMPXJOHMBZPVUBMHPSJUIN

     5IF 2>;B BOE A>FB WBSJBCMFTBSFMJTUTPG[FSPPSNPSFQBJSTDPOTJTUJOHPGBOVNCFSBOEBVOJU UIFVOJUCFJOH


    POFPG ?4A24=C064 A4;0C8E4 BOE 01B>;DC4

    6TFUIF SVMFTGPSQBSTJOHBMJTUPGEJNFOTJPOT Q UPQBSTFUIFWBMVFPGUIFFMFNFOUT DPMT BUUSJCVUF JGUIFSFJT


    POF-FU 2>;B CFUIFSFTVMU PSBOFNQUZMJTUJGUIFSFJTOPTVDIBUUSJCVUF

    6TFUIF SVMFTGPSQBSTJOHBMJTUPGEJNFOTJPOT Q UPQBSTFUIFWBMVFPGUIFFMFNFOUT SPXT BUUSJCVUF JGUIFSFJT


    POF-FU A>FB CFUIFSFTVMU PSBOFNQUZMJTUJGUIFSFJTOPTVDIBUUSJCVUF

     'PSBOZPGUIFFOUSJFTJO 2>;B PS A>FB UIBUIBWFUIFOVNCFS[FSPBOEUIFVOJU A4;0C8E4 DIBOHFUIFFOUSZT


    OVNCFSUPPOF

     *G 2>;B IBTOPFOUSJFT UIFOBEEBTJOHMFFOUSZDPOTJTUJOHPGUIFWBMVFBOEUIFVOJU A4;0C8E4 UP 2>;B

    *G A>FB IBTOPFOUSJFT UIFOBEEBTJOHMFFOUSZDPOTJTUJOHPGUIFWBMVFBOEUIFVOJU A4;0C8E4 UP A>FB

     *OWPLFUIFBMHPSJUINEFИOFECFMPXUP DPOWFSUBMJTUPGEJNFOTJPOTUPBMJTUPGQJYFMWBMVFT Q VTJOH 2>;B BT


    UIFJOQVUMJTU BOEUIFXJEUIPGUIFTVSGBDFUIBUUIF GSBNFTFU Q JTCFJOHSFOEFSFEJOUP JO$44QJYFMT BTUIF
    JOQVUEJNFOTJPO-FU B8I432>;B CFUIFSFTVMUJOHMJTU

    *OWPLFUIFBMHPSJUINEFИOFECFMPXUP DPOWFSUBMJTUPGEJNFOTJPOTUPBMJTUPGQJYFMWBMVFT Q VTJOH A>FB BT


    UIFJOQVUMJTU BOEUIFIFJHIUPGUIFTVSGBDFUIBUUIF GSBNFTFU Q JTCFJOHSFOEFSFEJOUP JO$44QJYFMT BTUIF
    JOQVUEJNFOTJPO-FU B8I43A>FB CFUIFSFTVMUJOHMJTU

     4QMJUUIFTVSGBDFJOUPBHSJEPG F•7 SFDUBOHMFT XIFSF F JTUIFOVNCFSPGFOUSJFTJO B8I432>;B BOE 7 JTUIF


    OVNCFSPGFOUSJFTJO B8I43A>FB

    4J[FUIFDPMVNOTTPUIBUFBDIDPMVNOJOUIFHSJEJTBTNBOZ$44QJYFMTXJEFBTUIFDPSSFTQPOEJOHFOUSZJO
    UIF B8I432>;B MJTU

    4J[FUIFSPXTTPUIBUFBDISPXJOUIFHSJEJTBTNBOZ$44QJYFMTIJHIBTUIFDPSSFTQPOEJOHFOUSZJOUIF B8I43
    A>FB MJTU

     -FU 278;3A4= CFUIFMJTUPG GSBNF Q BOE GSBNFTFU Q FMFNFOUTUIBUBSFDIJMESFOPGUIF GSBNFTFU Q FMFNFOU
    GPSXIJDIUIFBMHPSJUINXBTJOWPLFE

     'PSFBDISPXPGUIFHSJEPGSFDUBOHMFTDSFBUFEJOUIFQSFWJPVTTUFQ GSPNUPQUPCPUUPN SVOUIFTFTVCTUFQT

     'PSFBDISFDUBOHMFJOUIFSPX GSPNMFGUUPSJHIU SVOUIFTFTVCTUFQT

    
     *GUIFSFBSFBOZFMFNFOUTMFGUJO 278;3A4= UBLFUIFИSTUFMFNFOUJOUIFMJTU BOEBTTJHOJU
    UPUIFSFDUBOHMF

    *GUIJTJTB GSBNFTFU Q FMFNFOU UIFOSFDVSTFUIFFOUJSF GSBNFTFU Q MBZPVUBMHPSJUIN


    GPSUIBU GSBNFTFU Q FMFNFOU XJUIUIFSFDUBOHMFBTUIFTVSGBDF

    0UIFSXJTF JUJTB GSBNF Q FMFNFOUDSFBUFB OFTUFECSPXTJOHDPOUFYU Q TJ[FEUPИUUIF


    SFDUBOHMF

     *GUIFSFBSFBOZFMFNFOUTMFGUJO 278;3A4= SFNPWFUIFИSTUFMFNFOUGSPN 278;3A4=

     *GUIF GSBNFTFU Q FMFNFOU IBTBCPSEFS Q ESBXBOPVUFSTFUPGCPSEFSTBSPVOEUIFSFDUBOHMFT VTJOHUIF


    FMFNFOUT GSBNFCPSEFSDPMPS Q 

    'PSFBDISFDUBOHMF JGUIFSFJTBOFMFNFOUBTTJHOFEUPUIBUSFDUBOHMF BOEUIBUFMFNFOU IBTBCPSEFS Q


    ESBXBOJOOFSTFUPGCPSEFSTBSPVOEUIBUSFDUBOHMF VTJOHUIFFMFNFOUT GSBNFCPSEFSDPMPS Q 

    'PSFBDI WJTJCMF
    CPSEFSUIBUEPFTOPUBCVUBSFDUBOHMFUIBUJTBTTJHOFEB GSBNF Q FMFNFOUXJUIB OPSFTJ[F
    BUUSJCVUF JODMVEJOHSFDUBOHMFTJOGVSUIFSOFTUFE GSBNFTFU Q FMFNFOUT
    UIFVTFSBHFOUJTFYQFDUFEUPBMMPX
    UIFVTFSUPNPWFUIFCPSEFS SFTJ[JOHUIFSFDUBOHMFTXJUIJO LFFQJOHUIFQSPQPSUJPOTPGBOZOFTUFE
    GSBNFTFU Q HSJET

    " GSBNFTFU Q PS GSBNF Q FMFNFOU B;M;<IL>?L JGUIFGPMMPXJOHBMHPSJUINSFUVSOTUSVF

     *GUIFFMFNFOUIBTB GSBNFCPSEFS BUUSJCVUFXIPTFWBMVFJTOPUUIFFNQUZTUSJOHBOEXIPTFИSTU


    DIBSBDUFSJTFJUIFSB6 %*(*50/& 
    DIBSBDUFS B6 -"5*/4."---&55&3:DIBSBDUFS
    Z
    PSB6 -"5*/$"1*5"--&55&3:DIBSBDUFS :
    UIFOSFUVSOUSVF

     0UIFSXJTF JGUIFFMFNFOUIBTB GSBNFCPSEFS BUUSJCVUF SFUVSOGBMTF

     0UIFSXJTF JGUIFFMFNFOUIBTBQBSFOUFMFNFOUUIBUJTB GSBNFTFU Q FMFNFOU UIFOSFUVSOUSVFJG


    C70C FMFNFOU IBTBCPSEFS Q BOEGBMTFJGJUEPFTOPU

     0UIFSXJTF SFUVSOUSVF

    5IF @L;G?<IL>?L=IFIL PGB GSBNFTFU Q PS GSBNF Q FMFNFOUJTUIFDPMPSPCUBJOFEGSPNUIFGPMMPXJOH


    BMHPSJUIN

     *GUIFFMFNFOUIBTB CPSEFSDPMPS BUUSJCVUF BOEBQQMZJOHUIF SVMFTGPSQBSTJOHBMFHBDZDPMPS


    WBMVF Q UPUIBUBUUSJCVUFTWBMVFEPFTOPUSFTVMUJOBOFSSPS UIFOSFUVSOUIFDPMPSTPPCUBJOFE

     0UIFSXJTF JGUIFFMFNFOUIBTBQBSFOUFMFNFOUUIBUJTB GSBNFTFU Q FMFNFOU UIFOUIF GSBNF


    CPSEFSDPMPS Q PGUIBUFMFNFOU

     0UIFSXJTF SFUVSOHSBZ

    5IFBMHPSJUINUP =IHP?LN;FCMNI@>CG?HMCIHMNI;FCMNI@JCR?FP;FO?M DPOTJTUTPGUIFGPMMPXJOHTUFQT

     -FU 8=?DC;8BC CFUIFMJTUPGOVNCFSTBOEVOJUTQBTTFEUPUIFBMHPSJUIN

    -FU >DC?DC;8BC CFBMJTUPGOVNCFSTUIFTBNFMFOHUIBT 8=?DC;8BC BMM[FSP

    &OUSJFTJO >DC?DC;8BC DPSSFTQPOEUPUIFFOUSJFTJO 8=?DC;8BC UIBUIBWFUIFTBNFQPTJUJPO

     -FU 8=?DC38<4=B8>= CFUIFTJ[FQBTTFEUPUIFBMHPSJUIN

     -FU 2>D=C?4A24=C064 CFUIFOVNCFSPGFOUSJFTJO 8=?DC;8BC XIPTFVOJUJT ?4A24=C064

    -FU C>C0;?4A24=C064 CFUIFTVNPGBMMUIFOVNCFSTJO 8=?DC;8BC XIPTFVOJUJT ?4A24=C064

    -FU 2>D=CA4;0C8E4 CFUIFOVNCFSPGFOUSJFTJO 8=?DC;8BC XIPTFVOJUJT A4;0C8E4

    -FU C>C0;A4;0C8E4 CFUIFTVNPGBMMUIFOVNCFSTJO 8=?DC;8BC XIPTFVOJUJT A4;0C8E4

    -FU 2>D=C01B>;DC4 CFUIFOVNCFSPGFOUSJFTJO 8=?DC;8BC XIPTFVOJUJT 01B>;DC4

    -FU C>C0;01B>;DC4 CFUIFTVNPGBMMUIFOVNCFSTJO 8=?DC;8BC XIPTFVOJUJT 01B>;DC4

    -FU A4<08=8=6B?024 CFUIFWBMVFPG 8=?DC38<4=B8>=

    
     *G C>C0;01B>;DC4 JTHSFBUFSUIBO A4<08=8=6B?024 UIFOGPSFBDIFOUSZJO 8=?DC;8BC XIPTFVOJUJT 01B>;DC4 TFU
    UIFDPSSFTQPOEJOHWBMVFJO >DC?DC;8BC UPUIFOVNCFSPGUIFFOUSZJO 8=?DC;8BC NVMUJQMJFECZ A4<08=8=6B?024
    BOEEJWJEFECZ C>C0;01B>;DC45IFO TFU A4<08=8=6B?024 UP[FSP

    0UIFSXJTF GPSFBDIFOUSZJO 8=?DC;8BC XIPTFVOJUJT 01B>;DC4 TFUUIFDPSSFTQPOEJOHWBMVFJO >DC?DC;8BC UPUIF


    OVNCFSPGUIFFOUSZJO 8=?DC;8BC5IFO EFDSFNFOU A4<08=8=6B?024 CZ C>C0;01B>;DC4

     *G C>C0;?4A24=C064 NVMUJQMJFECZUIF 8=?DC38<4=B8>= BOEEJWJEFECZJTHSFBUFSUIBO A4<08=8=6B?024


    UIFOGPSFBDIFOUSZJO 8=?DC;8BC XIPTFVOJUJT ?4A24=C064 TFUUIFDPSSFTQPOEJOHWBMVFJO >DC?DC;8BC UPUIF
    OVNCFSPGUIFFOUSZJO 8=?DC;8BC NVMUJQMJFECZ A4<08=8=6B?024 BOEEJWJEFECZ C>C0;?4A24=C0645IFO TFU
    A4<08=8=6B?024 UP[FSP

    0UIFSXJTF GPSFBDIFOUSZJO 8=?DC;8BC XIPTFVOJUJT ?4A24=C064 TFUUIFDPSSFTQPOEJOHWBMVFJO >DC?DC;8BC UP


    UIFOVNCFSPGUIFFOUSZJO 8=?DC;8BC NVMUJQMJFECZUIF 8=?DC38<4=B8>= BOEEJWJEFECZ5IFO EFDSFNFOU
    A4<08=8=6B?024 CZ C>C0;?4A24=C064 NVMUJQMJFECZUIF 8=?DC38<4=B8>= BOEEJWJEFECZ

     'PSFBDIFOUSZJO 8=?DC;8BC XIPTFVOJUJT A4;0C8E4 TFUUIFDPSSFTQPOEJOHWBMVFJO >DC?DC;8BC UPUIFOVNCFSPG


    UIFFOUSZJO 8=?DC;8BC NVMUJQMJFECZ A4<08=8=6B?024 BOEEJWJEFECZ C>C0;A4;0C8E4

     3FUVSO >DC?DC;8BC

    6TFSBHFOUTXPSLJOHXJUIJOUFHFSWBMVFTGPSGSBNFXJEUIT BTPQQPTFEUPVTFSBHFOUTUIBUDBOMBZGSBNFTPVUXJUI
    TVCQJYFMBDDVSBDZ
    BSFFYQFDUFEUPEJTUSJCVUFUIFSFNBJOEFSИSTUUPUIFMBTUFOUSZXIPTFVOJUJT A4;0C8E4 UIFOFRVBMMZ
    OPUQSPQPSUJPOBMMZ
    UPFBDIFOUSZXIPTFVOJUJT ?4A24=C064 UIFOFRVBMMZ OPUQSPQPSUJPOBMMZ
    UPFBDIFOUSZXIPTFVOJU
    JT 01B>;DC4 BOEИOBMMZ GBJMJOHBMMFMTF UPUIFMBTUFOUSZ

      %HN?L;=NCP?G?>C;

       (CHEM
    @ILGM
    ;H>H;PCA;NCIH

    6TFSBHFOUTBSFFYQFDUFEUPBMMPXUIFVTFSUPDPOUSPMBTQFDUTPG IZQFSMJOL Q BDUJWBUJPOBOE GPSNTVCNJTTJPO Q TVDI


    BTXIJDI CSPXTJOHDPOUFYU Q JTUPCFVTFEGPSUIFTVCTFRVFOU OBWJHBUJPO Q 

    6TFSBHFOUTBSFFYQFDUFEUPBMMPXVTFSTUPEJTDPWFSUIFEFTUJOBUJPOPG IZQFSMJOLT Q BOEPG GPSNT Q CFGPSFUSJHHFSJOH


    UIFJS OBWJHBUJPO Q 

    6TFSBHFOUTBSFFYQFDUFEUPJOGPSNUIFVTFSPGXIFUIFSB IZQFSMJOL Q JODMVEFT IZQFSMJOLBVEJUJOH Q BOEUPMFUUIFN


    LOPXBUBNJOJNVNXIJDIEPNBJOTXJMMCFDPOUBDUFEBTQBSUPGTVDIBVEJUJOH

    6TFSBHFOUTBSFFYQFDUFEUPBMMPXVTFSTUP OBWJHBUF Q CSPXTJOHDPOUFYUT Q UPUIFSFTPVSDFT JOEJDBUFE Q CZUIF


    DJUF BUUSJCVUFTPO R Q CMPDLRVPUF Q TFDUJPO Q BSUJDMF Q JOT Q BOE EFM Q FMFNFOUT

    6TFSBHFOUTBSFFYQFDUFEUPTVSGBDF IZQFSMJOLT Q DSFBUFECZ MJOL Q FMFNFOUTJOUIFJSVTFSJOUFSGBDF

    *HM> 3ABE> EBGD I >E>F>GMLMA:M<K>:M> ARI>KEBGDL I  PBEEF:M<AMA>EBGDHKOBLBM>=IL>N=H

    <E:LL>L PBEEK>:<MMH<EB<DLB?OBLB;E> :G=LH?HKMA MABL=H>LGHM>QM>G=MH:GR;KHPL>KBGM>K?:<>


    <HGLMKN<MLMA:M>QIHL>MAHL>L:F>EBGDL <MBO:MBG@:EBGDMAKHN@AMA>;KHPL>KLBGM>K?:<> K:MA>K
    MA:GBGMA>I:@>BML>E? =H>LGHMMKB@@>K <EB<D I >O>GML:G=MA>EBD>

       0B? ODOG@ K ;NNLC<ON?

    (JWFOBOFMFNFOU FHUIFFMFNFOUEFTJHOBUFECZUIFNPVTFDVSTPS
    JGUIFFMFNFOU PSPOFPGJUTBODFTUPST IBTB
    UJUMF Q BUUSJCVUF BOEUIFOFBSFTUTVDIBUUSJCVUFIBTBWBMVFUIBUJTOPUUIFFNQUZTUSJOH JUJTFYQFDUFEUIBUUIFVTFS
    BHFOUXJMMFYQPTFUIFDPOUFOUTPGUIBUBUUSJCVUFBTBUPPMUJQ

    6TFSBHFOUTBSFFODPVSBHFEUPNBLFJUQPTTJCMFUPWJFXUPPMUJQTXJUIPVUUIFVTFPGBQPJOUJOHEFWJDF TJODFOPUBMM
    VTFSTBSFBCMFUPVTFQPJOUJOHEFWJDFT

    6 "-*/&'&&% -'
    DIBSBDUFSTBSFFYQFDUFEUPDBVTFMJOFCSFBLTJOUIFUPPMUJQ

       !>CNCHABIMNM

    5IFDVSSFOUUFYUFEJUJOHDBSFU UIFPOFBUUIF DBSFUQPTJUJPO Q JOBGPDVTFE FEJUJOHIPTU Q


    JTFYQFDUFEUPBDUMJLFBO
    JOMJOFSFQMBDFEFMFNFOUXJUIUIFWFSUJDBMEJNFOTJPOTPGUIFDBSFUBOEXJUI[FSPXJEUIGPSUIFQVSQPTFTPGUIF$44
    SFOEFSJOHNPEFM

    
    *HM> 0ABLF>:GLMA:M>O>G:G>FIMR;EH<D<:GA:O>MA><:K>MBGLB=>BM :G=MA:MPA>GMA><:K>M
    BLBGLN<A:G>E>F>GM BMIK>O>GMLF:K@BGL?KHF<HEE:ILBG@MAKHN@AMA>>E>F>GM

      ,LCHNG?>C;

    6TFSBHFOUTBSFFYQFDUFEUPBMMPXUIFVTFSUPSFRVFTUUIFPQQPSUVOJUZUP I<N;CH;JBSMC=;F@ILG PSBSFQSFTFOUBUJPO


    PGBQIZTJDBMGPSN
    PGB %PDVNFOU Q 'PSFYBNQMF TFMFDUJOHUIFPQUJPOUPQSJOUBQBHFPSDPOWFSUJUUP1%'GPSNBU

    8IFOUIFVTFSBDUVBMMZ PCUBJOTBQIZTJDBMGPSN Q PSBSFQSFTFOUBUJPOPGBQIZTJDBMGPSN


    PGB %PDVNFOU Q UIFVTFS
    BHFOUJTFYQFDUFEUPDSFBUFBOFXSFOEFSJOHPGUIF %PDVNFOU Q GPSUIFQSJOUNFEJB

    
     +<MIF?N?@?;NOL?M

      +<MIF?N?<ON=IH@ILGCHA@?;NOL?M

    'FBUVSFTMJTUFEJOUIJTTFDUJPOXJMMUSJHHFSXBSOJOHTJODPOGPSNBODFDIFDLFST

    "VUIPSTTIPVMEOPUTQFDJGZBO IUUQFRVJW Q BUUSJCVUFJOUIF $POUFOU-BOHVBHF Q TUBUFPOB NFUB Q FMFNFOU5IF
    MBOH Q BUUSJCVUFTIPVMECFVTFEJOTUFBE

    "VUIPSTTIPVMEOPUTQFDJGZB CPSEFS Q BUUSJCVUFPOBO JNH Q FMFNFOU*GUIFBUUSJCVUFJTQSFTFOU JUTWBMVFNVTUCF


    UIFTUSJOH$44TIPVMECFVTFEJOTUFBE

    "VUIPSTTIPVMEOPUTQFDJGZB MBOHVBHF Q BUUSJCVUFPOB TDSJQU Q FMFNFOU*GUIFBUUSJCVUFJTQSFTFOU JUTWBMVFNVTU


    CFBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOH+BWB4DSJQUBOEFJUIFSUIF UZQF Q BUUSJCVUFNVTUCFPNJUUFEPS
    JUTWBMVFNVTUCFBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHUFYUKBWBTDSJQU5IFBUUSJCVUFTIPVMECFFOUJSFMZ
    PNJUUFEJOTUFBE XJUIUIFWBMVF+BWB4DSJQU JUIBTOPFЗFDU
    PSSFQMBDFEXJUIVTFPGUIF UZQF Q BUUSJCVUF

    "VUIPSTTIPVMEOPUTQFDJGZUIF OBNF Q BUUSJCVUFPO B Q FMFNFOUT*GUIFBUUSJCVUFJTQSFTFOU JUTWBMVFNVTUOPUCFUIF


    FNQUZTUSJOHBOENVTUOFJUIFSCFFRVBMUPUIFWBMVFPGBOZPGUIF *%T Q JOUIFFMFNFOUT IPNFTVCUSFF Q PUIFSUIBO
    UIFFMFNFOUTPXO *% Q JGBOZ OPSCFFRVBMUPUIFWBMVFPGBOZPGUIFPUIFS OBNF Q BUUSJCVUFTPO B Q FMFNFOUTJO
    UIFFMFNFOUT IPNFTVCUSFF Q *GUIJTBUUSJCVUFJTQSFTFOUBOEUIFFMFNFOUIBTBO *% Q UIFOUIFBUUSJCVUFTWBMVF
    NVTUCFFRVBMUPUIFFMFNFOUT *% Q *OFBSMJFSWFSTJPOTPGUIFMBOHVBHF UIJTBUUSJCVUFXBTJOUFOEFEBTBXBZUP
    TQFDJGZQPTTJCMFUBSHFUTGPSGSBHNFOUJEFOUJИFSTJO 63-T Q 5IF JE Q BUUSJCVUFTIPVMECFVTFEJOTUFBE

    *HM> %G MA>$0)(LRGM:Q I LI><B?RBG@: +05,! I MA:MBL:G H;LHE>M>I>KFBMM>= +05,! I
    PBEE:ELHMKB@@>K:P:KGBG@

    *HM> 0A> LNFF:KR I :MMKB;NM> =>[G>=BGMA> M:;E> I L><MBHG PBEE:ELHMKB@@>K:P:KGBG@

       3;LHCHAM@ILI<MIF?N?<ON=IH@ILGCHA@?;NOL?M

    5PFBTFUIFUSBOTJUJPOGSPN)5.-5SBOTJUJPOBMEPDVNFOUTUPUIFMBOHVBHFEFИOFEJO C78B TQFDJИDBUJPO BOEUP


    EJTDPVSBHFDFSUBJOGFBUVSFTUIBUBSFPOMZBMMPXFEJOWFSZGFXDJSDVNTUBODFT DPOGPSNBODFDIFDLFSTBSFSFRVJSFEUP
    XBSOUIFVTFSXIFOUIFGPMMPXJOHGFBUVSFTBSFVTFEJOBEPDVNFOU5IFTFBSFHFOFSBMMZPMEPCTPMFUFGFBUVSFTUIBUIBWF
    OPFЗFDU BOEBSFBMMPXFEPOMZUPEJTUJOHVJTICFUXFFOMJLFMZNJTUBLFT SFHVMBSDPOGPSNBODFFSSPST
    BOENFSFWFTUJHJBM
    NBSLVQPSVOVTVBMBOEEJTDPVSBHFEQSBDUJDFT UIFTFXBSOJOHT
    

    5IFGPMMPXJOHGFBUVSFTNVTUCFDBUFHPSJ[FEBTEFTDSJCFEBCPWF

    Ǭ 5IFQSFTFODFPGBO PCTPMFUFQFSNJUUFE%0$5:1& Q JOBO )5.-EPDVNFOU Q 

    Ǭ 5IFQSFTFODFPGB NFUB Q FMFNFOUXJUIBO IUUQFRVJW Q BUUSJCVUFJOUIF $POUFOU-BOHVBHF Q TUBUF

    Ǭ 5IFQSFTFODFPGB CPSEFS Q BUUSJCVUFPOBO JNH Q FMFNFOUJGJUTWBMVFJTUIFTUSJOH

    Ǭ 5IFQSFTFODFPGB MBOHVBHF Q BUUSJCVUFPOB TDSJQU Q FMFNFOUJGJUTWBMVFJTBO "4$**DBTFJOTFOTJUJWF Q


    NBUDIGPSUIFTUSJOH+BWB4DSJQUBOEJGUIFSFJTOP UZQF Q BUUSJCVUFPSUIFSFJTBOEJUTWBMVFJTBO "4$**
    DBTFJOTFOTJUJWF Q NBUDIGPSUIFTUSJOHUFYUKBWBTDSJQU

    Ǭ 5IFQSFTFODFPGB OBNF Q BUUSJCVUFPOBO B Q FMFNFOU JGJUTWBMVFJTOPUUIFFNQUZTUSJOH

    Ǭ 5IFQSFTFODFPGB TVNNBSZ Q BUUSJCVUFPOB UBCMF Q FMFNFOU

    $POGPSNBODFDIFDLFSTNVTUEJTUJOHVJTICFUXFFOQBHFTUIBUIBWFOPDPOGPSNBODFFSSPSTBOEIBWFOPOFPGUIFTF
    PCTPMFUFGFBUVSFT BOEQBHFTUIBUIBWFOPDPOGPSNBODFFSSPSTCVUEPIBWFTPNFPGUIFTFPCTPMFUFGFBUVSFT

    'PSFYBNQMF BWBMJEBUPSDPVMESFQPSUTPNFQBHFTBT7BMJE)5.-BOEPUIFSTBT7BMJE)5.-XJUIXBSOJOHT

      *IH =IH@ILGCHA@?;NOL?M

    &MFNFOUTJOUIFGPMMPXJOHMJTUBSFFOUJSFMZPCTPMFUF BOENVTUOPUCFVTFECZBVUIPST

    <KKG@O K
    6TF FNCFE Q PS PCKFDU Q JOTUFBE

    
    :<KHGRF
    6TF BCCS Q JOTUFBE

    ;@LHNG=
    6TF BVEJP Q JOTUFBE

    =BK
    6TF VM Q JOTUFBE

    AM<H@ K
    AM<H@N@O K
    GH?K:F>L
    &JUIFSVTF JGSBNF Q BOE$44JOTUFBE PSVTFTFSWFSTJEFJODMVEFTUPHFOFSBUFDPNQMFUFQBHFTXJUIUIFWBSJPVT
    JOWBSJBOUQBSUTNFSHFEJO

    BLBG=>Q
    6TFBOFYQMJDJU GPSN Q BOE UFYUИFME Q DPNCJOBUJPOJOTUFBE

    EBLMBG@
    QFI
    6TF QSF Q BOE DPEF Q JOTUFBE

    G>QMB=
    6TF(6*%TJOTUFBE

    GH>F;>=
    6TF PCKFDU Q JOTUFBEPG FNCFE Q XIFOGBMMCBDLJTOFDFTTBSZ

    IE:BGM>QM
    6TFUIFUFYUQMBJO .*.&UZQF Q JOTUFBE

    K;
    1SPWJEJOHUIFSVCZCBTFEJSFDUMZJOTJEFUIF SVCZ Q FMFNFOUJTTVКDJFOUUIF SC Q FMFNFOUJTVOOFDFTTBSZ0NJU
    JUBMUPHFUIFS

    ;:L>?HGM
    ;B@
    ;EBGD
    <>GM>K
    ?HGM
    H<MLP@@ K
    FNEMB<HE
    GH;K
    L
    LI:<>K
    LMKBD>
    MM
    N
    6TFBQQSPQSJBUFFMFNFOUTBOEPS$44JOTUFBE

    'PSUIF T Q BOE TUSJLF Q FMFNFOUT JGUIFZBSFNBSLJOHVQBSFNPWBMGSPNUIFFMFNFOU DPOTJEFSVTJOHUIF


    EFM Q FMFNFOUJOTUFBE

    8IFSFUIF UU Q FMFNFOUXPVMEIBWFCFFOVTFEGPSNBSLJOHVQLFZCPBSEJOQVU DPOTJEFSUIF LCE Q FMFNFOUGPS


    WBSJBCMFT DPOTJEFSUIF WBS Q FMFNFOUGPSDPNQVUFSDPEF DPOTJEFSUIF DPEF Q FMFNFOUBOEGPSDPNQVUFS
    PVUQVU DPOTJEFSUIF TBNQ Q FMFNFOU

    4JNJMBSMZ JGUIF V Q FMFNFOUJTCFJOHVTFEUPJOEJDBUFFNQIBTJT DPOTJEFSVTJOHUIF FN Q FMFNFOUJGJUJTCFJOH


    VTFEGPSNBSLJOHVQLFZXPSET DPOTJEFSUIF C Q FMFNFOUBOEJGJUJTCFJOHVTFEGPSIJHIMJHIUJOHUFYUGPS
    SFGFSFODFQVSQPTFT DPOTJEFSUIF NBSL Q FMFNFOU

    4FFBMTPUIF UFYUMFWFMTFNBOUJDTVTBHFTVNNBSZ Q GPSNPSFTVHHFTUJPOTXJUIFYBNQMFT

    
    5IFGPMMPXJOHBUUSJCVUFTBSFPCTPMFUF UIPVHIUIFFMFNFOUTBSFTUJMMQBSUPGUIFMBOHVBHF
    BOENVTUOPUCFVTFECZ
    BVUIPST

    <A:KL>M IH < K ?F?G?HNM


    <A:KL>M IH GDIF K ?F?G?HNM
    6TFBO)551$POUFOU5ZQFIFBEFSPOUIFMJOLFESFTPVSDFJOTUFBE

    <HHK=L IH < K ?F?G?HNM


    LA:I> IH < K ?F?G?HNM
    6TF BSFB Q JOTUFBEPG B Q GPSJNBHFNBQT

    F>MAH=L IH < K ?F?G?HNM


    F>MAH=L IH GDIF K ?F?G?HNM
    6TFUIF)551015*0/4GFBUVSFJOTUFBE

    G:F> IH < K ?F?G?HNM?R=?JN;MHIN?>CHNB?JL?PCIOMM?=NCIH


    G:F> IH @H=@? K ?F?G?HNM
    G:F> IH DHB K ?F?G?HNM
    G:F> IH JKODJI K ?F?G?HNM
    6TFUIF JE Q BUUSJCVUFJOTUFBE

    K>O IH < K ?F?G?HNM


    K>O IH GDIF K ?F?G?HNM
    6TFUIF SFM Q BUUSJCVUFJOTUFBE XJUIBOPQQPTJUFUFSN 'PSFYBNQMF JOTUFBEPG SFWNBEF VTF
    SFMBVUIPS

    NKG IH < K ?F?G?HNM


    NKG IH GDIF K ?F?G?HNM
    4QFDJGZUIFQSFGFSSFEQFSTJTUFOUJEFOUJИFSVTJOHUIF ISFG Q BUUSJCVUFJOTUFBE

    GHAK>? IH <M@< K ?F?G?HNM


    0NJUUJOHUIF ISFG Q BUUSJCVUFJTTVКDJFOUUIF OPISFG Q BUUSJCVUFJTVOOFDFTTBSZ0NJUJUBMUPHFUIFS

    IKH?BE> IH C@<? K ?F?G?HNM


    8IFOVTFEGPSEFDMBSJOHXIJDI NFUB Q UFSNTBSFVTFEJOUIFEPDVNFOU VOOFDFTTBSZPNJUJUBMUPHFUIFS BOE
    SFHJTUFSUIFOBNFT Q 

    8IFOVTFEGPSUSJHHFSJOHTQFDJИDVTFSBHFOUCFIBWJPSTVTFB MJOL Q FMFNFOUJOTUFBE

    O>KLBHG IH COHG K ?F?G?HNM


    6OOFDFTTBSZ0NJUJUBMUPHFUIFS

    NL>F:I IH DIKPO K ?F?G?HNM


    6TF JNH Q JOTUFBEPG JOQVU Q GPSJNBHFNBQT

    EHG@=>L< IH DAM<H@ K ?F?G?HNM


    EHG@=>L< IH DHB K ?F?G?HNM
    6TFBSFHVMBS B Q FMFNFOUUPMJOLUPUIFEFTDSJQUJPO

    M:K@>M IH GDIF K ?F?G?HNM


    6OOFDFTTBSZ0NJUJUBMUPHFUIFS

    L<A>F> IH H@O< K ?F?G?HNM


    6TFPOMZPOFTDIFNFQFSИFME PSNBLFUIFTDIFNFEFDMBSBUJPOQBSUPGUIFWBMVF

    :K<ABO> IH J=E@>O K ?F?G?HNM


    <E:LLB= IH J=E@>O K ?F?G?HNM
    <H=> IH J=E@>O K ?F?G?HNM
    <H=>;:L> IH J=E@>O K ?F?G?HNM
    <H=>MRI> IH J=E@>O K ?F?G?HNM
    6TFUIF EBUB Q BOE UZQF Q BUUSJCVUFTUPJOWPLF QMVHJOT Q 5PTFUQBSBNFUFSTXJUIUIFTFOBNFTJOQBSUJDVMBS
    UIF QBSBN Q FMFNFOUDBOCFVTFE

    
    =><E:K> IH J=E@>O K ?F?G?HNM
    3FQFBUUIF PCKFDU Q FMFNFOUDPNQMFUFMZFBDIUJNFUIFSFTPVSDFJTUPCFSFVTFE

    LM:G=;R IH J=E@>O K ?F?G?HNM


    0QUJNJ[FUIFMJOLFESFTPVSDFTPUIBUJUMPBETRVJDLMZPS BUMFBTU JODSFNFOUBMMZ

    MRI> IH K<M<H K ?F?G?HNM


    O:EN>MRI> IH K<M<H K ?F?G?HNM
    6TFUIF OBNF Q BOE WBMVF Q BUUSJCVUFTXJUIPVUEFDMBSJOHWBMVFUZQFT

    E:G@N:@> IH N>MDKO K ?F?G?HNM?R=?JN;MHIN?>CHNB?JL?PCIOMM?=NCIH


    6TFUIF UZQF Q BUUSJCVUFJOTUFBE

    >O>GM IH N>MDKO K ?F?G?HNM


    ?HK IH N>MDKO K ?F?G?HNM
    6TF%0.&WFOUTNFDIBOJTNTUPSFHJTUFSFWFOUMJTUFOFST <%0.&7&/54> Q

    =:M:I:@>LBS> IH O<=G@ K ?F?G?HNM


    6OOFDFTTBSZ0NJUJUBMUPHFUIFS

    :;;K IH O? K ;H> OC K ?F?G?HNM


    6TFUFYUUIBUCFHJOTJOBOVOBNCJHVPVTBOEUFSTFNBOOFS BOEJODMVEFBOZNPSFFMBCPSBUFUFYUBGUFSUIBU

    :QBL IH O? K ;H> OC K ?F?G?HNM


    6TFUIF TDPQF Q BUUSJCVUFPOUIFSFMFWBOU UI Q 

    =:M:LK< IH < K


    <KKG@O K
    =POOJI K
    ?DQ K
    AM<H@ K
    DAM<H@ K
    DHB K
    DIKPO K
    G<=@G K
    G@B@I? K

    H<MLP@@ K
    J=E@>O K
    JKODJI K
    N@G@>O K
    NK<I K
    O<=G@ K
    ;H> O@SO<M@< K ?F?G?HNM
    =:M:?E= IH < K
    <KKG@O K
    =POOJI K
    ?DQ K
    AD@G?N@O K
    AM<H@ K
    DAM<H@ K
    DHB K
    DIKPO K
    G<=@G K

    G@B@I? K
    H<MLP@@ K
    J=E@>O K
    K<M<H K
    N@G@>O K
    NK<I K
    ;H> O@SO<M@< K ?F?G?HNM
    =:M:?HKF:M:L IH =POOJI K
    ?DQ K
    DIKPO K
    G<=@G K
    G@B@I? K
    H<MLP@@ K
    J=E@>O K
    JKODJI K

    N@G@>O K
    NK<I K
    O<=G@ K
    6TFTDSJQUBOEBNFDIBOJTNTVDIBT 9.-)UUQ3FRVFTU UPQPQVMBUFUIFQBHFEZOBNJDBMMZ <9)3> Q

    
    :EBGD IH =J?T K ?F?G?HNM
    ;@<HEHK IH =J?T K ?F?G?HNM
    EBGD IH =J?T K ?F?G?HNM
    F:K@BG;HMMHF IH =J?T K ?F?G?HNM
    F:K@BGA>B@AM IH =J?T K ?F?G?HNM
    F:K@BGE>?M IH =J?T K ?F?G?HNM
    F:K@BGKB@AM IH =J?T K ?F?G?HNM
    F:K@BGA>B@AM IH =J?T K ?F?G?HNM
    F:K@BGPB=MA IH =J?T K ?F?G?HNM
    M>QM IH =J?T K ?F?G?HNM
    OEBGD IH =J?T K ?F?G?HNM
    <E>:K IH =M K ?F?G?HNM
    :EB@G IH ><KODJI K ?F?G?HNM
    :EB@G IH >JG K ?F?G?HNM
    <A:K IH >JG K ?F?G?HNM
    <A:KH?? IH >JG K ?F?G?HNM
    O:EB@G IH >JG K ?F?G?HNM
    PB=MA IH >JG K ?F?G?HNM
    :EB@G IH ?DQ K ?F?G?HNM
    <HFI:<M IH ?G K ?F?G?HNM
    :EB@G IH @H=@? K ?F?G?HNM
    ALI:<> IH @H=@? K ?F?G?HNM
    OLI:<> IH @H=@? K ?F?G?HNM
    :EB@G IH CM K ?F?G?HNM
    <HEHK IH CM K ?F?G?HNM
    GHLA:=> IH CM K ?F?G?HNM
    LBS> IH CM K ?F?G?HNM
    PB=MA IH CM K ?F?G?HNM
    :EB@G IH C K WC K ?F?G?HNM
    :EB@G IH DAM<H@ K ?F?G?HNM
    :EEHPMK:GLI:K>G<R IH DAM<H@ K ?F?G?HNM
    ?K:F>;HK=>K IH DAM<H@ K ?F?G?HNM
    ALI:<> IH DAM<H@ K ?F?G?HNM
    F:K@BGA>B@AM IH DAM<H@ K ?F?G?HNM
    F:K@BGPB=MA IH DAM<H@ K ?F?G?HNM
    L<KHEEBG@ IH DAM<H@ K ?F?G?HNM
    OLI:<> IH DAM<H@ K ?F?G?HNM
    :EB@G IH DIKPO K ?F?G?HNM
    ALI:<> IH DIKPO K ?F?G?HNM
    OLI:<> IH DIKPO K ?F?G?HNM
    :EB@G IH DHB K ?F?G?HNM
    ;HK=>K IH DHB K ?F?G?HNM?R=?JN;MHIN?>CHNB?JL?PCIOMM?=NCIH
    ALI:<> IH DHB K ?F?G?HNM
    OLI:<> IH DHB K ?F?G?HNM
    :EB@G IH G@B@I? K ?F?G?HNM
    MRI> IH GD K ?F?G?HNM
    <HFI:<M IH H@IP K ?F?G?HNM
    :EB@G IH J=E@>O K ?F?G?HNM
    ;HK=>K IH J=E@>O K ?F?G?HNM
    ALI:<> IH J=E@>O K ?F?G?HNM
    OLI:<> IH J=E@>O K ?F?G?HNM
    <HFI:<M IH JG K ?F?G?HNM
    MRI> IH JG K ?F?G?HNM
    :EB@G IH K K ?F?G?HNM

    
    PB=MA IH KM@ K ?F?G?HNM
    :EB@G IH O<=G@ K ?F?G?HNM
    ;@<HEHK IH O<=G@ K ?F?G?HNM
    ;HK=>K IH O<=G@ K ?F?G?HNM
    <>EEI:==BG@ IH O<=G@ K ?F?G?HNM
    <>EELI:<BG@ IH O<=G@ K ?F?G?HNM
    ?K:F> IH O<=G@ K ?F?G?HNM
    KNE>L IH O<=G@ K ?F?G?HNM
    PB=MA IH O<=G@ K ?F?G?HNM
    :EB@G IH O=J?T K
    OC@<? K
    ;H> OAJJO K ?F?G?HNM
    <A:K IH O=J?T K
    OC@<? K
    ;H> OAJJO K ?F?G?HNM
    <A:KH?? IH O=J?T K
    OC@<? K
    ;H> OAJJO K ?F?G?HNM
    O:EB@G IH O=J?T K
    OC@<? K
    ;H> OAJJO K ?F?G?HNM
    :EB@G IH O? K ;H> OC K ?F?G?HNM
    ;@<HEHK IH O? K ;H> OC K ?F?G?HNM
    <A:K IH O? K ;H> OC K ?F?G?HNM
    <A:KH?? IH O? K ;H> OC K ?F?G?HNM
    A>B@AM IH O? K ;H> OC K ?F?G?HNM
    GHPK:I IH O? K ;H> OC K ?F?G?HNM
    O:EB@G IH O? K ;H> OC K ?F?G?HNM
    PB=MA IH O? K ;H> OC K ?F?G?HNM
    :EB@G IH OM K ?F?G?HNM
    ;@<HEHK IH OM K ?F?G?HNM
    <A:K IH OM K ?F?G?HNM
    <A:KH?? IH OM K ?F?G?HNM
    O:EB@G IH OM K ?F?G?HNM
    <HFI:<M IH PG K ?F?G?HNM
    MRI> IH PG K ?F?G?HNM
    ;:<D@KHNG= IH =J?T K
    O<=G@ K
    OC@<? K
    O=J?T K
    OAJJO K
    OM K
    O? K
    ;H> OC K ?F?G?HNM
    6TF$44JOTUFBE

      .?KOCL?G?HNM@ILCGJF?G?HN;NCIHM

       0B? <KKG@O ?F?G?HN

    5IF BQQMFU Q FMFNFOUJTB+BWBTQFDJИDWBSJBOUPGUIF FNCFE Q FMFNFOU5IF BQQMFU Q FMFNFOUJTOPXPCTPMFUFETP
    UIBUBMMFYUFOTJPOGSBNFXPSLT +BWB /&5 'MBTI FUD
    BSFIBOEMFEJOBDPOTJTUFOUNBOOFS

    8IFOUIFFMFNFOUJTTUJMMJOUIF TUBDLPGPQFOFMFNFOUT Q PGBO )5.-QBSTFS Q PS 9.-QBSTFS Q BOEXIFOUIF


    FMFNFOUJTOPU JOB %PDVNFOU Q BOEXIFOUIFFMFNFOUTEPDVNFOUJTOPU GVMMZBDUJWF Q BOEXIFOUIFFMFNFOUT
    %PDVNFOU Q T CSPXTJOHDPOUFYU Q IBEJUT TBOECPYFEQMVHJOTCSPXTJOHDPOUFYUЙBH Q XIFOUIBU %PDVNFOU Q XBT
    DSFBUFE BOEXIFOUIFFMFNFOUT %PDVNFOU Q XBTQBSTFEGSPNBSFTPVSDFXIPTF TOJЗFEUZQF Q BTEFUFSNJOFEEVSJOH
    OBWJHBUJPO Q JT UFYUIUNMTBOECPYFE Q BOEXIFOUIFFMFNFOUIBTBOBODFTUPS NFEJBFMFNFOU Q BOEXIFOUIF
    FMFNFOUIBTBOBODFTUPS PCKFDU Q FMFNFOUUIBUJT =>C TIPXJOHJUT GBMMCBDLDPOUFOU Q BOEXIFOOP+BWB-BOHVBHF
    SVOUJNF QMVHJO Q JTBWBJMBCMF BOEXIFOPOF 8B BWBJMBCMFCVUJUJTEJTBCMFE UIFFMFNFOU SFQSFTFOUT Q JUTDPOUFOUT

    0UIFSXJTF UIFVTFSBHFOUTIPVMEJOTUBOUJBUFB+BWB-BOHVBHFSVOUJNF QMVHJO Q BOETIPVMEQBTTUIFOBNFTBOE


    WBMVFTPGBMMUIFBUUSJCVUFTPOUIFFMFNFOU JOUIFPSEFSUIFZXFSFBEEFEUPUIFFMFNFOU XJUIUIFBUUSJCVUFTBEEFECZ
    UIFQBSTFSCFJOHPSEFSFEJOTPVSDFPSEFS BOEUIFOBQBSBNFUFSOBNFE1"3".XIPTFWBMVFJTOVMM BOEUIFOBMMUIF
    OBNFTBOEWBMVFTPG QBSBNFUFST Q HJWFOCZ QBSBN Q FMFNFOUTUIBUBSFDIJMESFOPGUIF BQQMFU Q FMFNFOU JO USFF
    PSEFS Q UPUIF QMVHJO Q VTFE*GUIF QMVHJO Q TVQQPSUTBTDSJQUBCMFJOUFSGBDF UIF )5.-"QQMFU&MFNFOU Q PCKFDU
    SFQSFTFOUJOHUIFFMFNFOUTIPVMEFYQPTFUIBUJOUFSGBDF5IF BQQMFU Q FMFNFOU SFQSFTFOUT Q UIF QMVHJO Q 

    *HM> 0A> :IIE>M I >E>F>GMBLNG:Z><M>=;RMA>//=BLIE:RIKHI>KMR 0A>&:O:(:G@N:@>


    KNGMBF>BLBGLM:GMB:M>=>O>GB?MA>>E>F>GMBLAB==>GPBMA:=BLIE:RGHG>//LMRE>

    5IF BQQMFU Q FMFNFOUNVTUJNQMFNFOUUIF )5.-"QQMFU&MFNFOU Q JOUFSGBDF

    
    JOUFSGBDF &2+*KKG@O#G@H@IO  )5.-&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    BUUSJCVUF%0.4USJOH BMU
    BUUSJCVUF%0.4USJOH BSDIJWF
    BUUSJCVUF%0.4USJOH DPEF
    BUUSJCVUF%0.4USJOH DPEF#BTF
    BUUSJCVUF%0.4USJOH IFJHIU
    BUUSJCVUFVOTJHOFEMPOH ITQBDF
    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUF%0.4USJOH@PCKFDUUIFVOEFSTDPSFJTOPUQBSUPGUIFJEFOUJGJFS
    BUUSJCVUFVOTJHOFEMPOH WTQBDF
    BUUSJCVUF%0.4USJOH XJEUI
    ^

    5IF <GDBI <GO <M>CDQ@ >J?@ C@DBCO CNK<>@ I<H@ J=E@>O QNK<>@ BOE RD?OC *%-BUUSJCVUFTNVTU SFЙFDU Q UIF
    SFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF >J?@ <N@ *%-BUUSJCVUFNVTU SFЙFDU Q UIF DPEFCBTF DPOUFOUBUUSJCVUF

       0B? H<MLP@@ ?F?G?HN

    5IF NBSRVFF Q FMFNFOUJTBQSFTFOUBUJPOBMFMFNFOUUIBUBOJNBUFTDPOUFOU$44USBOTJUJPOTBOEBOJNBUJPOTBSFB


    NPSFBQQSPQSJBUFNFDIBOJTN

    5IF UBTLTPVSDF Q GPSUBTLTNFOUJPOFEJOUIJTTFDUJPOJTUIF %0.NBOJQVMBUJPOUBTLTPVSDF Q 

    5IF NBSRVFF Q FMFNFOUNVTUJNQMFNFOUUIF )5.-.BSRVFF&MFNFOU Q JOUFSGBDF

    JOUFSGBDF &2+*+<MLP@@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH CFIBWJPS
    BUUSJCVUF%0.4USJOH CH$PMPS
    BUUSJCVUF%0.4USJOH EJSFDUJPO
    BUUSJCVUF%0.4USJOH IFJHIU
    BUUSJCVUFVOTJHOFEMPOH ITQBDF
    BUUSJCVUFMPOH MPPQ
    BUUSJCVUFVOTJHOFEMPOH TDSPMM"NPVOU
    BUUSJCVUFVOTJHOFEMPOH TDSPMM%FMBZ
    BUUSJCVUF%0.4USJOH USVF4QFFE
    BUUSJCVUFVOTJHOFEMPOH WTQBDF
    BUUSJCVUF%0.4USJOH XJEUI

    BUUSJCVUF 'VODUJPO POCPVODF


    BUUSJCVUF 'VODUJPO POGJOJTI
    BUUSJCVUF 'VODUJPO POTUBSU

    WPJE TUBSU
    
    WPJE TUPQ
    
    ^

    " NBSRVFF Q FMFNFOUDBOCF NOLH?>IH PS NOLH?>I\8IFOJUJTDSFBUFE JUJT UVSOFEPO Q 

    8IFOUIF NO<MO NFUIPEJTDBMMFE UIF NBSRVFF Q FMFNFOUNVTUCF UVSOFEPO Q 

    8IFOUIF NOJK NFUIPEJTDBMMFE UIF NBSRVFF Q FMFNFOUNVTUCF UVSOFEPЗ Q 

    8IFOB NBSRVFF Q FMFNFOUJTDSFBUFE UIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE TUBSU
    BUUIFFMFNFOU

    5IF =@C<QDJM DPOUFOUBUUSJCVUFPO NBSRVFF Q FMFNFOUTJTBO FOVNFSBUFEBUUSJCVUF Q XJUIUIFGPMMPXJOHLFZXPSET BMM
    OPODPOGPSNJOH
    

    '?SQIL> /N;N?

    TDSPMM M=LIFF
    TMJEF MFC>?

    
    '?SQIL> /N;N?
    BMUFSOBUF ;FN?LH;N?

    5IF <8BB8=6E0;D43450D;C JTUIF TDSPMM Q TUBUF

    5IF ?DM@>ODJI DPOUFOUBUUSJCVUFPO NBSRVFF Q FMFNFOUTJTBO FOVNFSBUFEBUUSJCVUF Q XJUIUIFGPMMPXJOHLFZXPSET


    BMMOPODPOGPSNJOH
    

    '?SQIL> /N;N?

    MFGU F?@N
    SJHIU LCABN
    VQ OJ
    EPXO >IQH

    5IF <8BB8=6E0;D43450D;C JTUIF MFGU Q TUBUF

    5IF OMP@NK@@? DPOUFOUBUUSJCVUFPO NBSRVFF Q FMFNFOUTJTBO FOVNFSBUFEBUUSJCVUF Q XJUIUIFGPMMPXJOHLFZXPSET


    BMMOPODPOGPSNJOH
    

    '?SQIL> /N;N?

    USVF NLO?
    GBMTF @;FM?

    5IF <8BB8=6E0;D43450D;C JTUIF GBMTF Q TUBUF

    " NBSRVFF Q FMFNFOUIBTB G;LKO??M=LIFFCHN?LP;F XIJDIJTPCUBJOFEBTGPMMPXT

     *GUIFFMFNFOUIBTB TDSPMMEFMBZ BUUSJCVUF BOEQBSTJOHJUTWBMVFVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWF


    JOUFHFST Q EPFTOPUSFUVSOBOFSSPS UIFOMFU 34;0H CFUIFQBSTFEWBMVF0UIFSXJTF MFU 34;0H CF

     *GUIFFMFNFOUEPFTOPUIBWFB USVFTQFFE Q BUUSJCVUF PSJGJUEPFTCVUUIBUBUUSJCVUFJTJOUIF GBMTF Q TUBUF


    BOEUIF 34;0H WBMVFJTMFTTUIBO UIFOMFU 34;0H CFJOTUFBE

     5IF NBSRVFFTDSPMMJOUFSWBM Q JT 34;0H JOUFSQSFUFEJONJMMJTFDPOET

    " NBSRVFF Q FMFNFOUIBTB G;LKO??M=LIFF>CMN;H=? XIJDI JGUIFFMFNFOUIBTB TDSPMMBNPVOU BUUSJCVUF BOE
    QBSTJOHJUTWBMVFVTJOHUIF SVMFTGPSQBSTJOHOPOOFHBUJWFJOUFHFST Q EPFTOPUSFUVSOBOFSSPS JTUIFQBSTFEWBMVF
    JOUFSQSFUFEJO$44QJYFMT BOEPUIFSXJTFJT$44QJYFMT

    " NBSRVFF Q FMFNFOUIBTB G;LKO??FIIJ=IOHN XIJDI JGUIFFMFNFOUIBTB MPPQ BUUSJCVUF BOEQBSTJOHJUTWBMVF
    VTJOHUIF SVMFTGPSQBSTJOHJOUFHFST Q EPFTOPUSFUVSOBOFSSPSPSBOVNCFSMFTTUIBO JTUIFQBSTFEWBMVF BOE
    PUIFSXJTFJTʐ

    5IF GJJK *%-BUUSJCVUF POHFUUJOH NVTUSFUVSOUIFFMFNFOUT NBSRVFFMPPQDPVOU Q BOEPOTFUUJOH JGUIFOFXWBMVF


    JTEJЗFSFOUUIBOUIFFMFNFOUT NBSRVFFMPPQDPVOU Q BOEFJUIFSHSFBUFSUIBO[FSPPSFRVBMUPʐ NVTUTFUUIF
    FMFNFOUT MPPQ DPOUFOUBUUSJCVUF BEEJOHJUJGOFDFTTBSZ
    UPUIF WBMJEJOUFHFS Q UIBUSFQSFTFOUTUIFOFXWBMVF 0UIFS
    WBMVFTBSFJHOPSFE

    " NBSRVFF Q FMFNFOUBMTPIBTB G;LKO??=OLL?HNFIIJCH>?R XIJDIJT[FSPXIFOUIFFMFNFOUJTDSFBUFE

    5IFSFOEFSJOHMBZFSXJMMPDDBTJPOBMMZ CH=L?G?HNNB?G;LKO??=OLL?HNFIIJCH>?R XIJDINVTUDBVTFUIFGPMMPXJOH


    TUFQTUPCFSVO

     *GUIF NBSRVFFMPPQDPVOU Q JTʐ UIFOBCPSUUIFTFTUFQT

     *ODSFNFOUUIF NBSRVFFDVSSFOUMPPQJOEFY Q CZPOF

     *GUIF NBSRVFFDVSSFOUMPPQJOEFY Q JTOPXFRVBMUPPSHSFBUFSUIBOUIFFMFNFOUT NBSRVFFMPPQDPVOU Q


    UVSOPЗ Q UIF NBSRVFF Q FMFNFOUBOE RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE GJOJTI BUUIF
    NBSRVFF Q FMFNFOU

    0UIFSXJTF JGUIF CFIBWJPS Q BUUSJCVUFJTJOUIF BMUFSOBUF Q TUBUF UIFO RVFVFBUBTL Q UP ИSFBTJNQMF
    FWFOU Q OBNFE CPVODF BUUIF NBSRVFF Q FMFNFOU

    
    0UIFSXJTF RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE TUBSU BUUIF NBSRVFF Q FMFNFOU

    5IFGPMMPXJOHBSFUIF FWFOUIBOEMFST Q BOEUIFJSDPSSFTQPOEJOH FWFOUIBOEMFSFWFOUUZQFT Q


    UIBUNVTUCF
    TVQQPSUFE BTDPOUFOUBOE*%-BUUSJCVUFT CZ NBSRVFF Q FMFNFOUT

    !P?HNB;H>F?L J !P?HNB;H>F?L?P?HNNSJ? J

    JI=JPI>@ CPVODF
    JIADIDNC GJOJTI
    JINO<MO TUBSU

    5IF =@C<QDJM ?DM@>ODJI C@DBCO CNK<>@ QNK<>@ BOE RD?OC *%-BUUSJCVUFTNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOU
    BUUSJCVUFTPGUIFTBNFOBNF

    5IF =B!JGJM *%-BUUSJCVUFNVTU SFЙFDU Q UIF CHDPMPS DPOUFOUBUUSJCVUF

    5IF N>MJGGHJPIO *%-BUUSJCVUFNVTU SFЙFDU Q UIF TDSPMMBNPVOU DPOUFOUBUUSJCVUF5IFEFGBVMUWBMVFJT

    5IF N>MJGG"@G<T *%-BUUSJCVUFNVTU SFЙFDU Q UIF TDSPMMEFMBZ DPOUFOUBUUSJCVUF5IFEFGBVMUWBMVFJT

    5IF OMP@1K@@? *%-BUUSJCVUFNVTU SFЙFDU Q UIF USVFTQFFE Q DPOUFOUBUUSJCVUF

       "L;G?M

    5IF AM<H@N@O FMFNFOUBDUTBT UIFCPEZFMFNFOU Q JOEPDVNFOUTUIBUVTFGSBNFT

    5IF GSBNFTFU Q FMFNFOUNVTUJNQMFNFOUUIF )5.-'SBNF4FU&MFNFOU Q JOUFSGBDF

    JOUFSGBDF &2+*$M<H@1@O#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH DPMT
    BUUSJCVUF%0.4USJOH SPXT
    BUUSJCVUF 'VODUJPO POBGUFSQSJOU
    BUUSJCVUF 'VODUJPO POCFGPSFQSJOU
    BUUSJCVUF 'VODUJPO POCFGPSFVOMPBE
    BUUSJCVUF 'VODUJPO POCMVS
    BUUSJCVUF 'VODUJPO POFSSPS
    BUUSJCVUF 'VODUJPO POGPDVT
    BUUSJCVUF 'VODUJPO POIBTIDIBOHF
    BUUSJCVUF 'VODUJPO POMPBE
    BUUSJCVUF 'VODUJPO PONFTTBHF
    BUUSJCVUF 'VODUJPO POPGGMJOF
    BUUSJCVUF 'VODUJPO POPOMJOF
    BUUSJCVUF 'VODUJPO POQBHFIJEF
    BUUSJCVUF 'VODUJPO POQBHFTIPX
    BUUSJCVUF 'VODUJPO POQPQTUBUF
    BUUSJCVUF 'VODUJPO POSFEP
    BUUSJCVUF 'VODUJPO POSFTJ[F
    BUUSJCVUF 'VODUJPO POTUPSBHF
    BUUSJCVUF 'VODUJPO POVOEP
    BUUSJCVUF 'VODUJPO POVOMPBE
    ^

    5IF >JGN BOE MJRN *%-BUUSJCVUFTPGUIF GSBNFTFU Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIF
    TBNFOBNF

    5IF GSBNFTFU Q FMFNFOUNVTUTVQQPSUUIFGPMMPXJOH FWFOUIBOEMFSDPOUFOUBUUSJCVUFT Q FYQPTJOHUIF FWFOU


    IBOEMFST Q PGUIF 8JOEPX Q PCKFDU

    Ǭ POBGUFSQSJOU Q
    Ǭ POCFGPSFQSJOU Q
    Ǭ POCFGPSFVOMPBE Q
    Ǭ POCMVS Q
    Ǭ POFSSPS Q
    Ǭ POGPDVT Q
    Ǭ POIBTIDIBOHF Q

    
    Ǭ POMPBE Q
    Ǭ PONFTTBHF Q
    Ǭ POPGGMJOF Q
    Ǭ POPOMJOF Q
    Ǭ POQBHFIJEF Q
    Ǭ POQBHFTIPX Q
    Ǭ POQPQTUBUF Q
    Ǭ POSFEP Q
    Ǭ POSFTJ[F Q
    Ǭ POTUPSBHF Q
    Ǭ POVOEP Q
    Ǭ POVOMPBE Q

    5IF%0.JOUFSGBDFBMTPFYQPTFT FWFOUIBOEMFS*%-BUUSJCVUFT Q UIBUNJSSPSUIPTFPOUIF 8JOEPX Q FMFNFOU

    5IF POCMVS Q POFSSPS Q POGPDVT Q BOE POMPBE Q FWFOUIBOEMFS*%-BUUSJCVUFT Q PGUIF 8JOEPX Q PCKFDU
    FYQPTFEPOUIF GSBNFTFU Q FMFNFOU TIBEPXUIFHFOFSJD FWFOUIBOEMFS*%-BUUSJCVUFT Q XJUIUIFTBNFOBNFT
    OPSNBMMZTVQQPSUFECZ )5.-FMFNFOUT Q 

    5IF AM<H@ FMFNFOUEFИOFTB OFTUFECSPXTJOHDPOUFYU Q TJNJMBSUPUIF JGSBNF Q FMFNFOU CVUSFOEFSFEXJUIJOB
    GSBNFTFU Q FMFNFOU

    8IFOUIFCSPXTJOHDPOUFYUJTDSFBUFE JGB TSD BUUSJCVUFJTQSFTFOU UIFVTFSBHFOUNVTU SFTPMWF Q UIFWBMVFPGUIBU


    BUUSJCVUF SFMBUJWFUPUIFFMFNFOU BOEJGUIBUJTTVDDFTTGVM NVTUUIFO OBWJHBUF Q UIFFMFNFOUTCSPXTJOHDPOUFYUUP
    UIFSFTVMUJOH BCTPMVUF63- Q XJUI SFQMBDFNFOUFOBCMFE Q BOEXJUIUIF GSBNF Q FMFNFOUTEPDVNFOUT CSPXTJOH
    DPOUFYU Q BTUIF TPVSDFCSPXTJOHDPOUFYU Q 

    8IFOFWFSUIF TSD BUUSJCVUFJTTFU UIFVTFSBHFOUNVTU SFTPMWF Q UIFWBMVFPGUIBUBUUSJCVUF SFMBUJWFUPUIFFMFNFOU


    BOEJGUIBUJTTVDDFTTGVM UIFOFTUFE CSPXTJOHDPOUFYU Q NVTUCF OBWJHBUFE Q UPUIFSFTVMUJOH BCTPMVUF63- Q XJUI
    UIF GSBNF Q FMFNFOUTEPDVNFOUT CSPXTJOHDPOUFYU Q BTUIF TPVSDFCSPXTJOHDPOUFYU Q 

    8IFOUIFCSPXTJOHDPOUFYUJTDSFBUFE JGB OBNF BUUSJCVUFJTQSFTFOU UIF CSPXTJOHDPOUFYUOBNF Q NVTUCFTFUUPUIF


    WBMVFPGUIJTBUUSJCVUFPUIFSXJTF UIF CSPXTJOHDPOUFYUOBNF Q NVTUCFTFUUPUIFFNQUZTUSJOH

    8IFOFWFSUIF OBNF BUUSJCVUFJTTFU UIFOFTUFE CSPXTJOHDPOUFYU Q T OBNF Q NVTUCFDIBOHFEUPUIFOFXWBMVF*G


    UIFBUUSJCVUFJTSFNPWFE UIF CSPXTJOHDPOUFYUOBNF Q NVTUCFTFUUPUIFFNQUZTUSJOH

    8IFODPOUFOUMPBETJOB GSBNF Q BGUFSBOZ MPBE FWFOUTBSFИSFEXJUIJOUIFDPOUFOUJUTFMG UIFVTFSBHFOUNVTU RVFVF


    BUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE MPBE BUUIF GSBNF Q FMFNFOU8IFODPOUFOUGBJMTUPMPBE FHEVFUPB
    OFUXPSLFSSPS
    UIFOUIFVTFSBHFOUNVTU RVFVFBUBTL Q UP ИSFBTJNQMFFWFOU Q OBNFE FSSPS BUUIFFMFNFOU
    JOTUFBE

    5IF UBTLTPVSDF Q GPSUIF UBTLT Q BCPWFJTUIF %0.NBOJQVMBUJPOUBTLTPVSDF Q 

    8IFOUIFSFJTBO BDUJWFQBSTFS Q JOUIF GSBNF Q BOEXIFOBOZUIJOHJOUIF GSBNF Q JT EFMBZJOHUIFMPBEFWFOU Q PG
    UIF GSBNF Q T CSPXTJOHDPOUFYU Q T BDUJWFEPDVNFOU Q UIF GSBNF Q NVTU EFMBZUIFMPBEFWFOU Q PGJUT
    EPDVNFOU

    5IF GSBNF Q FMFNFOUNVTUJNQMFNFOUUIF )5.-'SBNF&MFNFOU Q JOUFSGBDF

    JOUFSGBDF &2+*$M<H@#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH GSBNF#PSEFS
    BUUSJCVUF%0.4USJOH MPOH%FTD
    BUUSJCVUF%0.4USJOH NBSHJO)FJHIU
    BUUSJCVUF%0.4USJOH NBSHJO8JEUI
    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUFCPPMFBO OP3FTJ[F
    BUUSJCVUF%0.4USJOH TDSPMMJOH
    BUUSJCVUF%0.4USJOH TSD
    SFBEPOMZBUUSJCVUF%PDVNFOU DPOUFOU%PDVNFOU
    ^

    5IF I<H@ N>MJGGDIB BOE NM> *%-BUUSJCVUFTPGUIF GSBNF Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFT
    PGUIFTBNFOBNF

    5IF AM<H@ JM?@M *%-BUUSJCVUFPGUIF GSBNF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT GSBNFCPSEFS DPOUFOUBUUSJCVUF

    
    5IF GJIB"@N> *%-BUUSJCVUFPGUIF GSBNF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT MPOHEFTD DPOUFOUBUUSJCVUF

    5IF H<MBDI&@DBCO *%-BUUSJCVUFPGUIF GSBNF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT NBSHJOIFJHIU DPOUFOU
    BUUSJCVUF

    5IF H<MBDI5D?OC *%-BUUSJCVUFPGUIF GSBNF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT NBSHJOXJEUI DPOUFOUBUUSJCVUF

    5IF IJ0@NDU@ *%-BUUSJCVUFPGUIF GSBNF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT OPSFTJ[F DPOUFOUBUUSJCVUF

    5IF >JIO@IO"J>PH@IO *%-BUUSJCVUFPGUIF GSBNF Q FMFNFOUNVTUSFUVSOUIF %PDVNFOU Q PCKFDUPGUIF BDUJWF
    EPDVNFOU Q PGUIF GSBNF Q FMFNFOUT OFTUFECSPXTJOHDPOUFYU Q 

       +NB?L?F?G?HNM
    ;NNLC<ON?M;H>,%M

    6TFSBHFOUTNVTUUSFBU BDSPOZN Q FMFNFOUTJOBNBOOFSFRVJWBMFOUUP BCCS Q FMFNFOUT

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-"ODIPS&MFNFOU \
    BUUSJCVUF%0.4USJOH DPPSET
    BUUSJCVUF%0.4USJOH DIBSTFU
    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUF%0.4USJOH SFW
    BUUSJCVUF%0.4USJOH TIBQF
    ^

    5IF >JJM?N >C<MN@O I<H@ M@Q BOE NC<K@ *%-BUUSJCVUFTPGUIF B Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOU
    BUUSJCVUFTPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-"SFB&MFNFOU \
    BUUSJCVUFCPPMFBO OP)SFG
    ^

    5IF IJ&M@A *%-BUUSJCVUFPGUIF BSFB Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT OPISFG Q DPOUFOUBUUSJCVUF

    5IF CBTFGPOU Q FMFNFOUNVTUJNQMFNFOUUIF )5.-#BTF'POU&MFNFOU Q JOUFSGBDF

    JOUFSGBDF &2+* <N@$JIO#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH DPMPS
    BUUSJCVUF%0.4USJOH GBDF
    BUUSJCVUFMPOH TJ[F
    ^

    5IF >JGJM A<>@ BOE NDU@ *%-BUUSJCVUFTPGUIF CBTFGPOU Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFT
    PGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-#PEZ&MFNFOU \
    BUUSJCVUF%0.4USJOH UFYU
    BUUSJCVUF%0.4USJOH CH$PMPS
    BUUSJCVUF%0.4USJOH CBDLHSPVOE
    BUUSJCVUF%0.4USJOH MJOL
    BUUSJCVUF%0.4USJOH W-JOL
    BUUSJCVUF%0.4USJOH B-JOL
    ^

    5IF O@SO *%-BUUSJCVUFPGUIF CPEZ Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT UFYU Q DPOUFOUBUUSJCVUF

    5IF =B!JGJM *%-BUUSJCVUFPGUIF CPEZ Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT CHDPMPS Q DPOUFOUBUUSJCVUF

    
    5IF =<>FBMJPI? *%-BUUSJCVUFPGUIF CPEZ Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT CBDLHSPVOE Q DPOUFOUBUUSJCVUF
    5IF CBDLHSPVOE Q DPOUFOUJT =>C EFИOFEUPDPOUBJOB 63- Q EFTQJUFSVMFTSFHBSEJOHJUTIBOEMJOHJOUIFSFOEFSJOH
    TFDUJPOBCPWF

    5IF GDIF *%-BUUSJCVUFPGUIF CPEZ Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT MJOL Q DPOUFOUBUUSJCVUF

    5IF <*DIF *%-BUUSJCVUFPGUIF CPEZ Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT BMJOL Q DPOUFOUBUUSJCVUF

    5IF Q*DIF *%-BUUSJCVUFPGUIF CPEZ Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT WMJOL Q DPOUFOUBUUSJCVUF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-#3&MFNFOU \
    BUUSJCVUF%0.4USJOH DMFBS
    ^

    5IF >G@<M *%-BUUSJCVUFPGUIF CS Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-5BCMF$BQUJPO&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    ^

    5IF <GDBI *%-BUUSJCVUFPGUIF DBQUJPO Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-5BCMF$PM&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    BUUSJCVUF%0.4USJOH DI
    BUUSJCVUF%0.4USJOH DI0GG
    BUUSJCVUF%0.4USJOH W"MJHO
    BUUSJCVUF%0.4USJOH XJEUI
    ^

    5IF <GDBI BOE RD?OC *%-BUUSJCVUFTPGUIF DPM Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIF
    TBNFOBNF

    5IF >C *%-BUUSJCVUFPGUIF DPM Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT DIBS Q DPOUFOUBUUSJCVUF

    5IF >C-AA *%-BUUSJCVUFPGUIF DPM Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT DIBSPGG Q DPOUFOUBUUSJCVUF

    5IF QGDBI *%-BUUSJCVUFPGUIF DPM Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT WBMJHO Q DPOUFOUBUUSJCVUF

    6TFSBHFOUTNVTUUSFBU EJS Q FMFNFOUTJOBNBOOFSFRVJWBMFOUUP VM Q FMFNFOUT

    5IF EJS Q FMFNFOUNVTUJNQMFNFOUUIF )5.-%JSFDUPSZ&MFNFOU Q JOUFSGBDF

    JOUFSGBDF &2+*"DM@>OJMT#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUFCPPMFBO DPNQBDU
    ^

    5IF >JHK<>O *%-BUUSJCVUFPGUIF EJS Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-%JW&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    ^

    5IF <GDBI *%-BUUSJCVUFPGUIF EJW Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    
    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-%-JTU&MFNFOU \
    BUUSJCVUFCPPMFBO DPNQBDU
    ^

    5IF >JHK<>O *%-BUUSJCVUFPGUIF EM Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-&NCFE&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    BUUSJCVUF%0.4USJOH OBNF
    ^

    5IF I<H@ BOE <GDBI *%-BUUSJCVUFTPGUIF FNCFE Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIF
    TBNFOBNF

    5IF GPOU Q FMFNFOUNVTUJNQMFNFOUUIF )5.-'POU&MFNFOU Q JOUFSGBDF

    JOUFSGBDF &2+*$JIO#G@H@IO  )5.-&MFNFOU \


    BUUSJCVUF%0.4USJOH DPMPS
    BUUSJCVUF%0.4USJOH GBDF
    BUUSJCVUF%0.4USJOH TJ[F
    ^

    5IF >JGJM A<>@ BOE NDU@ *%-BUUSJCVUFTPGUIF GPOU Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPG
    UIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-)FBEJOH&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    ^

    5IF <GDBI *%-BUUSJCVUFPGUIF I Q ǠI Q FMFNFOUTNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-)FBE&MFNFOU \
    BUUSJCVUF%0.4USJOH QSPGJMF
    ^

    6TFSBHFOUTTIPVMEJHOPSFUIF QSPGJMF Q DPOUFOUBUUSJCVUFPO IFBE Q FMFNFOUT

    8IFOUIFBUUSJCVUFXPVMECFVTFEBTBMJTUPG 63-T Q JEFOUJGZJOHNFUBEBUBQSPИMFT UIFVTFSBHFOUTIPVMEJOTUFBE


    BMXBZTBTTVNFUIBUBMMLOPXOQSPИMFTBQQMZUPBMMQBHFT BOETIPVMEUIFSFGPSFBQQMZUIFDPOWFOUJPOTPGBMMLOPXO
    NFUBEBUBQSPИMFTUPUIFEPDVNFOU JHOPSJOHUIFWBMVFPGUIFBUUSJCVUF

    8IFOUIFBUUSJCVUFTWBMVFXPVMECFIBOEMFEBTBMJTUPG 63-T Q UPCFEFSFGFSFODFE UIFVTFSBHFOUNVTUVTFUIF


    GPMMPXJOHTUFQT

     4QMJUPOTQBDFT Q UIFWBMVFPGUIF QSPGJMF Q BUUSJCVUF

     3FTPMWF Q FBDISFTVMUJOHUPLFOSFMBUJWFUPUIF IFBE Q FMFNFOU

     'PSFBDIUPLFOUIBUJTTVDDFTTGVMMZSFTPMWFE GFUDI Q UIFSFTVMUJOH BCTPMVUF63- Q BOEBQQMZUIFBQQSPQSJBUF


    QSPDFTTJOH

    5IF KMJADG@ *%-BUUSJCVUFPGUIF IFBE Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF BTJGUIF
    BUUSJCVUFTWBMVFXBTKVTUBTUSJOH *OPUIFSXPSET UIFWBMVFJTOPU SFTPMWFE Q JOBOZXBZPOHFUUJOH

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-)3&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO

    
    BUUSJCVUF%0.4USJOH DPMPS
    BUUSJCVUFCPPMFBO OP4IBEF
    BUUSJCVUF%0.4USJOH TJ[F
    BUUSJCVUF%0.4USJOH XJEUI
    ^

    5IF <GDBI >JGJM NDU@ BOE RD?OC *%-BUUSJCVUFTPGUIF IS Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOU
    BUUSJCVUFTPGUIFTBNFOBNF

    5IF IJ1C<?@ *%-BUUSJCVUFPGUIF IS Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT OPTIBEF DPOUFOUBUUSJCVUF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-)UNM&MFNFOU \
    BUUSJCVUF%0.4USJOH WFSTJPO
    ^

    5IF Q@MNDJI *%-BUUSJCVUFPGUIF IUNM Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-*'SBNF&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    BUUSJCVUF%0.4USJOH GSBNF#PSEFS
    BUUSJCVUF%0.4USJOH MPOH%FTD
    BUUSJCVUF%0.4USJOH NBSHJO)FJHIU
    BUUSJCVUF%0.4USJOH NBSHJO8JEUI
    BUUSJCVUF%0.4USJOH TDSPMMJOH
    ^

    5IF <GDBI BOE N>MJGGDIB *%-BUUSJCVUFTPGUIF JGSBNF Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPG
    UIFTBNFOBNF

    5IF AM<H@ JM?@M *%-BUUSJCVUFPGUIF JGSBNF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT GSBNFCPSEFS Q DPOUFOU
    BUUSJCVUF

    5IF GJIB"@N> *%-BUUSJCVUFPGUIF JGSBNF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT MPOHEFTD Q DPOUFOUBUUSJCVUF

    5IF H<MBDI&@DBCO *%-BUUSJCVUFPGUIF JGSBNF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT NBSHJOIFJHIU Q DPOUFOU
    BUUSJCVUF

    5IF H<MBDI5D?OC *%-BUUSJCVUFPGUIF JGSBNF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT NBSHJOXJEUI Q DPOUFOU
    BUUSJCVUF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-*NBHF&MFNFOU \
    BUUSJCVUF%0.4USJOH OBNF
    BUUSJCVUF%0.4USJOH BMJHO
    BUUSJCVUF%0.4USJOH CPSEFS
    BUUSJCVUFVOTJHOFEMPOH ITQBDF
    BUUSJCVUF%0.4USJOH MPOH%FTD
    BUUSJCVUFVOTJHOFEMPOH WTQBDF
    ^

    5IF I<H@ <GDBI =JM?@M CNK<>@ BOE QNK<>@ *%-BUUSJCVUFTPGUIF JNH Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWF
    DPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF GJIB"@N> *%-BUUSJCVUFPGUIF JNH Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT MPOHEFTD Q DPOUFOUBUUSJCVUF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-*OQVU&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO

    
    BUUSJCVUF%0.4USJOH VTF.BQ
    ^

    5IF <GDBI *%-BUUSJCVUFPGUIF JOQVU Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    5IF PN@+<K *%-BUUSJCVUFPGUIF JOQVU Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT VTFNBQ Q DPOUFOUBUUSJCVUF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.--FHFOE&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    ^

    5IF <GDBI *%-BUUSJCVUFPGUIF MFHFOE Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.--*&MFNFOU \
    BUUSJCVUF%0.4USJOH UZQF
    ^

    5IF OTK@ *%-BUUSJCVUFPGUIF MJ Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.--JOL&MFNFOU \
    BUUSJCVUF%0.4USJOH DIBSTFU
    BUUSJCVUF%0.4USJOH SFW
    BUUSJCVUF%0.4USJOH UBSHFU
    ^

    5IF >C<MN@O M@Q BOE O<MB@O *%-BUUSJCVUFTPGUIF MJOL Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFT
    PGUIFTBNFOBNF

    6TFSBHFOUTNVTUUSFBU MJTUJOH Q FMFNFOUTJOBNBOOFSFRVJWBMFOUUP QSF Q FMFNFOUT

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-.FOV&MFNFOU \
    BUUSJCVUFCPPMFBO DPNQBDU
    ^

    5IF >JHK<>O *%-BUUSJCVUFPGUIF NFOV Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-.FUB&MFNFOU \
    BUUSJCVUF%0.4USJOH TDIFNF
    ^

    6TFSBHFOUTNBZUSFBUUIF TDIFNF Q DPOUFOUBUUSJCVUFPOUIF NFUB Q FMFNFOUBTBOFYUFOTJPOPGUIFFMFNFOUT


    OBNF Q DPOUFOUBUUSJCVUFXIFOQSPDFTTJOHB NFUB Q FMFNFOUXJUIB OBNF Q BUUSJCVUFXIPTFWBMVFJTPOFUIBUUIF
    VTFSBHFOUSFDPHOJ[FTBTTVQQPSUJOHUIF TDIFNF Q BUUSJCVUF

    6TFSBHFOUTBSFFODPVSBHFEUPJHOPSFUIF TDIFNF Q BUUSJCVUFBOEJOTUFBEQSPDFTTUIFWBMVFHJWFOUPUIFNFUBEBUB


    OBNFBTJGJUIBECFFOTQFDJИFEGPSFBDIFYQFDUFEWBMVFPGUIF TDIFNF Q BUUSJCVUF

    'PSFYBNQMF JGUIFVTFSBHFOUBDUTPO NFUB Q FMFNFOUTXJUI OBNF Q BUUSJCVUFTIBWJOHUIFWBMVF


    F(.4TVCKFDULFZXPSE BOELOPXTUIBUUIF TDIFNF Q BUUSJCVUFJTVTFEXJUIUIJTNFUBEBUBOBNF UIFOJUDPVME
    UBLFUIF TDIFNF Q BUUSJCVUFJOUPBDDPVOU BDUJOHBTJGJUXBTBOFYUFOTJPOPGUIF OBNF Q BUUSJCVUF5IVTUIF
    GPMMPXJOHUXP NFUB Q FMFNFOUTDPVMECFUSFBUFEBTUXPFMFNFOUTHJWJOHWBMVFTGPSUXPEJЗFSFOUNFUBEBUB
    OBNFT POFDPOTJTUJOHPGBDPNCJOBUJPOPGF(.4TVCKFDULFZXPSEBOE-($- BOEUIFPUIFSDPOTJTUJOHPGB
    DPNCJOBUJPOPGF(.4TVCKFDULFZXPSEBOE03-:

    
    UIJTNBSLVQJTJOWBMJE
    NFUBOBNFF(.4TVCKFDULFZXPSETDIFNF-($-DPOUFOU"CBOEPOFEWFIJDMFT
    NFUBOBNFF(.4TVCKFDULFZXPSETDIFNF03-:DPOUFOU.BIDBSLUIYCZF

    5IFSFDPNNFOEFEQSPDFTTJOHPGUIJTNBSLVQ IPXFWFS XPVMECFFRVJWBMFOUUPUIFGPMMPXJOH

    NFUBOBNFF(.4TVCKFDULFZXPSEDPOUFOU"CBOEPOFEWFIJDMFT
    NFUBOBNFF(.4TVCKFDULFZXPSEDPOUFOU.BIDBSLUIYCZF

    5IF N>C@H@ *%-BUUSJCVUFPGUIF NFUB Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-0CKFDU&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    BUUSJCVUF%0.4USJOH BSDIJWF
    BUUSJCVUF%0.4USJOH CPSEFS
    BUUSJCVUF%0.4USJOH DPEF
    BUUSJCVUF%0.4USJOH DPEF#BTF
    BUUSJCVUF%0.4USJOH DPEF5ZQF
    BUUSJCVUFCPPMFBO EFDMBSF
    BUUSJCVUFVOTJHOFEMPOH ITQBDF
    BUUSJCVUF%0.4USJOH TUBOECZ
    BUUSJCVUFVOTJHOFEMPOH WTQBDF
    ^

    5IF <GDBI <M>CDQ@ =JM?@M >J?@ ?@>G<M@ CNK<>@ NO<I?=T BOE QNK<>@ *%-BUUSJCVUFTPGUIF PCKFDU Q FMFNFOU
    NVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF >J?@ <N@ *%-BUUSJCVUFPGUIF PCKFDU Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT DPEFCBTF Q DPOUFOUBUUSJCVUF

    5IF >J?@2TK@ *%-BUUSJCVUFPGUIF PCKFDU Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT DPEFUZQF Q DPOUFOUBUUSJCVUF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-0-JTU&MFNFOU \
    BUUSJCVUFCPPMFBO DPNQBDU
    BUUSJCVUF%0.4USJOH UZQF
    ^

    5IF >JHK<>O BOE OTK@ *%-BUUSJCVUFTPGUIF PM Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIF
    TBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-1BSBHSBQI&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    ^

    5IF <GDBI *%-BUUSJCVUFPGUIF Q Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-1BSBN&MFNFOU \
    BUUSJCVUF%0.4USJOH UZQF
    BUUSJCVUF%0.4USJOH WBMVF5ZQF
    ^

    5IF OTK@ *%-BUUSJCVUFPGUIF QBSBN Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    5IF Q<GP@2TK@ *%-BUUSJCVUFPGUIF QBSBN Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT WBMVFUZQF Q DPOUFOUBUUSJCVUF

    6TFSBHFOUTNVTUUSFBU QMBJOUFYU Q FMFNFOUTJOBNBOOFSFRVJWBMFOUUP QSF Q FMFNFOUT

    
    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-1SF&MFNFOU \
    BUUSJCVUFVOTJHOFEMPOH XJEUI
    ^

    5IF RD?OC *%-BUUSJCVUFPGUIF QSF Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-4DSJQU&MFNFOU \
    BUUSJCVUF%0.4USJOH FWFOU
    BUUSJCVUF%0.4USJOH IUNM'PS
    ^

    5IF @Q@IO BOE COHG$JM *%-BUUSJCVUFTPGUIF TDSJQU Q FMFNFOUNVTUSFUVSOUIFFNQUZTUSJOHPOHFUUJOH BOEEP


    OPUIJOHPOTFUUJOH

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-5BCMF&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    BUUSJCVUF%0.4USJOH CH$PMPS
    BUUSJCVUF%0.4USJOH CPSEFS
    BUUSJCVUF%0.4USJOH DFMM1BEEJOH
    BUUSJCVUF%0.4USJOH DFMM4QBDJOH
    BUUSJCVUF%0.4USJOH GSBNF
    BUUSJCVUF%0.4USJOH SVMFT
    BUUSJCVUF%0.4USJOH XJEUI
    ^

    5IF <GDBI =JM?@M AM<H@ MPG@N BOE RD?OC *%-BUUSJCVUFTPGUIF UBCMF Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWF
    DPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF =B!JGJM *%-BUUSJCVUFPGUIF UBCMF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT CHDPMPS Q DPOUFOUBUUSJCVUF

    5IF >@GG.<??DIB *%-BUUSJCVUFPGUIF UBCMF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT DFMMQBEEJOH Q DPOUFOU
    BUUSJCVUF

    5IF >@GG1K<>DIB *%-BUUSJCVUFPGUIF UBCMF Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT DFMMTQBDJOH Q DPOUFOU
    BUUSJCVUF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-5BCMF4FDUJPO&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    BUUSJCVUF%0.4USJOH DI
    BUUSJCVUF%0.4USJOH DI0GG
    BUUSJCVUF%0.4USJOH W"MJHO
    ^

    5IF <GDBI *%-BUUSJCVUFPGUIF UCPEZ Q UIFBE Q BOE UGPPU Q FMFNFOUTNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIF
    TBNFOBNF

    5IF >C *%-BUUSJCVUFPGUIF UCPEZ Q UIFBE Q BOE UGPPU Q FMFNFOUTNVTU SFЙFDU Q UIFFMFNFOUT DIBS Q DPOUFOU
    BUUSJCVUFT

    5IF >C-AA *%-BUUSJCVUFPGUIF UCPEZ Q UIFBE Q BOE UGPPU Q FMFNFOUTNVTU SFЙFDU Q UIFFMFNFOUT DIBSPGG Q
    DPOUFOUBUUSJCVUFT

    5IF QGDBI *%-BUUSJCVUFPGUIF UCPEZ Q UIFBE Q BOE UGPPU Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT WBMJHO Q
    DPOUFOUBUUSJCVUFT

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-5BCMF$FMM&MFNFOU \

    
    BUUSJCVUF%0.4USJOH BCCS
    BUUSJCVUF%0.4USJOH BMJHO
    BUUSJCVUF%0.4USJOH BYJT
    BUUSJCVUF%0.4USJOH CH$PMPS
    BUUSJCVUF%0.4USJOH DI
    BUUSJCVUF%0.4USJOH DI0GG
    BUUSJCVUF%0.4USJOH IFJHIU
    BUUSJCVUFCPPMFBO OP8SBQ
    BUUSJCVUF%0.4USJOH W"MJHO
    BUUSJCVUF%0.4USJOH XJEUI
    ^

    5IF <==M <GDBI <SDN C@DBCO BOE RD?OC *%-BUUSJCVUFTPGUIF UE Q BOE UI Q FMFNFOUTNVTU SFЙFDU Q UIF
    SFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIFTBNFOBNF

    5IF =B!JGJM *%-BUUSJCVUFPGUIF UE Q BOE UI Q FMFNFOUTNVTU SFЙFDU Q UIFFMFNFOUT CHDPMPS Q DPOUFOU
    BUUSJCVUFT

    5IF >C *%-BUUSJCVUFPGUIF UE Q BOE UI Q FMFNFOUTNVTU SFЙFDU Q UIFFMFNFOUT DIBS Q DPOUFOUBUUSJCVUFT

    5IF >C-AA *%-BUUSJCVUFPGUIF UE Q BOE UI Q FMFNFOUTNVTU SFЙFDU Q UIFFMFNFOUT DIBSPGG Q DPOUFOUBUUSJCVUFT

    5IF IJ5M<K *%-BUUSJCVUFPGUIF UE Q BOE UI Q FMFNFOUTNVTU SFЙFDU Q UIFFMFNFOUT OPXSBQ Q DPOUFOUBUUSJCVUFT

    5IF QGDBI *%-BUUSJCVUFPGUIF UE Q BOE UI Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT WBMJHO Q DPOUFOUBUUSJCVUFT

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-5BCMF3PX&MFNFOU \
    BUUSJCVUF%0.4USJOH BMJHO
    BUUSJCVUF%0.4USJOH CH$PMPS
    BUUSJCVUF%0.4USJOH DI
    BUUSJCVUF%0.4USJOH DI0GG
    BUUSJCVUF%0.4USJOH W"MJHO
    ^

    5IF <GDBI *%-BUUSJCVUFPGUIF US Q FMFNFOUNVTU SFЙFDU Q UIFDPOUFOUBUUSJCVUFPGUIFTBNFOBNF

    5IF =B!JGJM *%-BUUSJCVUFPGUIF US Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT CHDPMPS Q DPOUFOUBUUSJCVUF

    5IF >C *%-BUUSJCVUFPGUIF US Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT DIBS Q DPOUFOUBUUSJCVUF

    5IF >C-AA *%-BUUSJCVUFPGUIF US Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT DIBSPGG Q DPOUFOUBUUSJCVUF

    5IF QGDBI *%-BUUSJCVUFPGUIF US Q FMFNFOUNVTU SFЙFDU Q UIFFMFNFOUT WBMJHO Q DPOUFOUBUUSJCVUF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-6-JTU&MFNFOU \
    BUUSJCVUFCPPMFBO DPNQBDU
    BUUSJCVUF%0.4USJOH UZQF
    ^

    5IF >JHK<>O BOE OTK@ *%-BUUSJCVUFTPGUIF VM Q FMFNFOUNVTU SFЙFDU Q UIFSFTQFDUJWFDPOUFOUBUUSJCVUFTPGUIF
    TBNFOBNF

    6TFSBHFOUTNVTUUSFBU YNQ Q FMFNFOUTJOBNBOOFSFRVJWBMFOUUP QSF Q FMFNFOUT

    5IF CHTPVOE Q JTJOEFY Q NVMUJDPM Q OFYUJE Q SC Q BOE TQBDFS Q FMFNFOUTNVTUVTFUIF
    )5.-6OLOPXO&MFNFOU Q JOUFSGBDF

    <4VQQMFNFOUBM>
    JOUFSGBDF )5.-%PDVNFOU \
    BUUSJCVUF%0.4USJOH GH$PMPS

    
    BUUSJCVUF%0.4USJOH CH$PMPS
    BUUSJCVUF%0.4USJOH MJOL$PMPS
    BUUSJCVUF%0.4USJOH WMJOL$PMPS
    BUUSJCVUF%0.4USJOH BMJOL$PMPS

    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO BODIPST


    SFBEPOMZBUUSJCVUF )5.-$PMMFDUJPO BQQMFUT

    WPJE DMFBS
    

    SFBEPOMZBUUSJCVUF )5.-"MM$PMMFDUJPO BMM


    ^

    5IFBUUSJCVUFTPGUIF %PDVNFOU Q PCKFDUMJTUFEJOUIFИSTUDPMVNOPGUIFGPMMPXJOHUBCMFNVTU SFЙFDU Q UIFDPOUFOU


    BUUSJCVUFPO UIFCPEZFMFNFOU Q XJUIUIFOBNFHJWFOJOUIFDPSSFTQPOEJOHDFMMJOUIFTFDPOEDPMVNOPOUIFTBNFSPX
    JG UIFCPEZFMFNFOU Q JTB CPEZ Q FMFNFOU BTPQQPTFEUPB GSBNFTFU Q FMFNFOU
    8IFOUIFSFJTOP CPEZ
    FMFNFOU Q PSJGJUJTB GSBNFTFU Q FMFNFOU UIFBUUSJCVUFTNVTUJOTUFBESFUVSOUIFFNQUZTUSJOHPOHFUUJOHBOEEP
    OPUIJOHPOTFUUJOH

    % (;NNLC<ON? IHN?HN;NNLC<ON?

    AB!JGJM UFYU Q


    =B!JGJM CHDPMPS Q
    GDIF!JGJM MJOL Q
    Q*DIF!JGJM WMJOL Q
    <*DIF!JGJM BMJOL Q

    5IF <I>CJMN BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZ
    B Q FMFNFOUTXJUI OBNF Q BUUSJCVUFT

    5IF <KKG@ON BUUSJCVUFNVTUSFUVSOBO )5.-$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTPOMZ
    BQQMFU Q FMFNFOUT

    5IF >G@<M NFUIPENVTUEPOPUIJOH

    5IF <GG BUUSJCVUFNVTUSFUVSOBO )5.-"MM$PMMFDUJPO Q SPPUFEBUUIF %PDVNFOU Q OPEF XIPTFИMUFSNBUDIFTBMM
    FMFNFOUT

    5IFPCKFDUSFUVSOFEGPS BMM Q IBTTFWFSBMVOVTVBMCFIBWJPST

    Ǭ 5IFVTFSBHFOUNVTUBDUBTJGUIF5P#PPMFBO
    PQFSBUPSJO+BWB4DSJQUDPOWFSUTUIFPCKFDUSFUVSOFEGPS BMM Q
    UPUIFGBMTFWBMVF

    Ǭ 5IFVTFSBHFOUNVTUBDUBTJG GPSUIFQVSQPTFTPGUIF  BOE  PQFSBUPSTJO+BWB4DSJQU UIFPCKFDUSFUVSOFE


    GPS BMM Q JTFRVBMUPUIF VOEFGJOFE WBMVF

    Ǭ 5IFVTFSBHFOUNVTUBDUTVDIUIBUUIF UZQFPG PQFSBUPSJO+BWB4DSJQUSFUVSOTUIFTUSJOH VOEFGJOFE XIFO


    BQQMJFEUPUIFPCKFDUSFUVSOFEGPS BMM Q 

    *HM> 0A>L>K>JNBK>F>GML:K>: PBEE?NEOBHE:MBHG I H?MA>&:O:/<KBIMLI><B[<:MBHG<NKK>GM:MMA>


    MBF>H?PKBMBG@!)/<KBIM>=BMBHG 0A>&:O:/<KBIMLI><B[<:MBHGK>JNBK>LMA:MMA>0HHHE>:G
    HI>K:MHK<HGO>KM:EEH;C><MLMHMA>MKN>O:EN> :G==H>LGHMA:O>IKHOBLBHGL?HKH;C><ML:<MBG@:LB?
    MA>RP>K> NG=>?BG>= ?HKMA>INKIHL>LH?<>KM:BGHI>K:MHKL 0ABLOBHE:MBHGBLFHMBO:M>=;R:=>LBK>
    ?HK<HFI:MB;BEBMRPBMAMPH<E:LL>LH?E>@:<R<HGM>GMHG>MA:MNL>LMA>IK>L>G<>H?
    =H<NF>GM :EE I :L:P:RMH=>M><ME>@:<RNL>K:@>GML :G=HG>MA:MHGERLNIIHKMLMAHL>E>@:<R
    NL>K:@>GML:G=NL>LMA> =H<NF>GM :EE I H;C><MPBMAHNMM>LMBG@?HKBMLIK>L>G<>[KLM
    7!)8 I

    
     %*=IHMC>?L;NCIHM

      O@SOCOHG

    5IJTSFHJTUSBUJPOJTGPSDPNNVOJUZSFWJFXBOEXJMMCFTVCNJUUFEUPUIF*&4(GPSSFWJFX BQQSPWBM BOESFHJTUSBUJPOXJUI


    *"/"

    0SJ?H;G?
    UFYU

    /O<NSJ?H;G?
    IUNM

    .?KOCL?>J;L;G?N?LM
    /PSFRVJSFEQBSBNFUFST

    +JNCIH;FJ;L;G?N?LM
    >C<MN@O
    5IF DIBSTFU QBSBNFUFSNBZCFQSPWJEFEUPEFИOJUJWFMZTQFDJGZUIF EPDVNFOUTDIBSBDUFSFODPEJOH Q
    PWFSSJEJOHBOZ DIBSBDUFSFODPEJOHEFDMBSBUJPOT Q JOUIFEPDVNFOU5IFQBSBNFUFSTWBMVFNVTUCFUIF
    OBNFPGUIFDIBSBDUFSFODPEJOHVTFEUPTFSJBMJ[FUIFИMF NVTUCFBWBMJEDIBSBDUFSFODPEJOHOBNF BOE
    NVTUCFBO "4$**DBTFJOTFOTJUJWF Q NBUDIGPSUIF QSFGFSSFE.*.&OBNF Q GPSUIBUFODPEJOH
    <*"/"$)"34&5> Q

    !H=I>CHA=IHMC>?L;NCIHM
    4FFUIFTFDUJPOPO DIBSBDUFSFODPEJOHEFDMBSBUJPOT Q 

    /?=OLCNS=IHMC>?L;NCIHM
    &OUJSFOPWFMTIBWFCFFOXSJUUFOBCPVUUIFTFDVSJUZDPOTJEFSBUJPOTUIBUBQQMZUP)5.-EPDVNFOUT.BOZBSFMJTUFE
    JOUIJTEPDVNFOU UPXIJDIUIFSFBEFSJTSFGFSSFEGPSNPSFEFUBJMT4PNFHFOFSBMDPODFSOTCFBSNFOUJPOJOHIFSF
    IPXFWFS

    )5.-JTTDSJQUFEMBOHVBHF BOEIBTBMBSHFOVNCFSPG"1*T TPNFPGXIJDIBSFEFTDSJCFEJOUIJTEPDVNFOU


    
    4DSJQUDBOFYQPTFUIFVTFSUPQPUFOUJBMSJTLTPGJOGPSNBUJPOMFBLBHF DSFEFOUJBMMFBLBHF DSPTTTJUFTDSJQUJOH
    BUUBDLT DSPTTTJUFSFRVFTUGPSHFSJFT BOEBIPTUPGPUIFSQSPCMFNT8IJMFUIFEFTJHOTJOUIJTTQFDJИDBUJPOBSF
    JOUFOEFEUPCFTBGFJGJNQMFNFOUFEDPSSFDUMZ BGVMMJNQMFNFOUBUJPOJTBNBTTJWFVOEFSUBLJOHBOE BTXJUIBOZ
    TPGUXBSF VTFSBHFOUTBSFMJLFMZUPIBWFTFDVSJUZCVHT

    &WFOXJUIPVUTDSJQUJOH UIFSFBSFTQFDJИDGFBUVSFTJO)5.-XIJDI GPSIJTUPSJDBMSFBTPOT BSFSFRVJSFEGPSCSPBE


    DPNQBUJCJMJUZXJUIMFHBDZDPOUFOUCVUUIBUFYQPTFUIFVTFSUPVOGPSUVOBUFTFDVSJUZQSPCMFNT*OQBSUJDVMBS UIF
    JNH Q FMFNFOUDBOCFVTFEJODPOKVODUJPOXJUITPNFPUIFSGFBUVSFTBTBXBZUPFЗFDUBQPSUTDBOGSPNUIF
    VTFSTMPDBUJPOPOUIF*OUFSOFU5IJTDBOFYQPTFMPDBMOFUXPSLUPQPMPHJFTUIBUUIFBUUBDLFSXPVMEPUIFSXJTFOPUCF
    BCMFUPEFUFSNJOF

    )5.-SFMJFTPOBDPNQBSUNFOUBMJ[BUJPOTDIFNFTPNFUJNFTLOPXOBTUIF B0<4>A868=?>;82H"O PSJHJO Q JONPTU


    DBTFTDPOTJTUTPGBMMUIFQBHFTTFSWFEGSPNUIFTBNFIPTU POUIFTBNFQPSU VTJOHUIFTBNFQSPUPDPM

    *UJTDSJUJDBM UIFSFGPSF UPFOTVSFUIBUBOZVOUSVTUFEDPOUFOUUIBUGPSNTQBSUPGBTJUFCFIPTUFEPOBEJЗFSFOU


    PSJHJO Q UIBOBOZTFOTJUJWFDPOUFOUPOUIBUTJUF6OUSVTUFEDPOUFOUDBOFBTJMZTQPPGBOZPUIFSQBHFPOUIFTBNF
    PSJHJO SFBEEBUBGSPNUIBUPSJHJO DBVTFTDSJQUTJOUIBUPSJHJOUPFYFDVUF TVCNJUGPSNTUPBOEGSPNUIBUPSJHJO
    FWFOJGUIFZBSFQSPUFDUFEGSPNDSPTTTJUFSFRVFTUGPSHFSZBUUBDLTCZVOJRVFUPLFOT BOENBLFVTFPGBOZUIJSE
    QBSUZSFTPVSDFTFYQPTFEUPPSSJHIUTHSBOUFEUPUIBUPSJHJO

    %HN?LIJ?L;<CFCNS=IHMC>?L;NCIHM
    3VMFTGPSQSPDFTTJOHCPUIDPOGPSNJOHBOEOPODPOGPSNJOHDPOUFOUBSFEFИOFEJOUIJTTQFDJИDBUJPO

    ,O<FCMB?>MJ?=C]=;NCIH
    5IJTEPDVNFOUJTUIFSFMFWBOUTQFDJИDBUJPO-BCFMJOHBSFTPVSDFXJUIUIF UFYUIUNM Q UZQFBTTFSUTUIBUUIF
    SFTPVSDFJTBO )5.-EPDVNFOU Q VTJOH UIF)5.-TZOUBY Q 

    JJFC=;NCIHMNB;NOM?NBCMG?>C;NSJ?
    8FCCSPXTFST UPPMTGPSQSPDFTTJOH8FCDPOUFOU )5.-BVUIPSJOHUPPMT TFBSDIFOHJOFT WBMJEBUPST

    >>CNCIH;FCH@ILG;NCIH
    );AC=HOG<?LM
    /PTFRVFODFPGCZUFTDBOVOJRVFMZJEFOUJGZBO)5.-EPDVNFOU.PSFJOGPSNBUJPOPOEFUFDUJOH)5.-
    EPDVNFOUTJTBWBJMBCMFJOUIF$POUFOU5ZQF1SPDFTTJOH.PEFMTQFDJИDBUJPO <.*.&4/*''> Q

    
    "CF??RN?HMCIHM
    IUNMBOEIUNBSFDPNNPOMZ CVUDFSUBJOMZOPUFYDMVTJWFMZ VTFEBTUIFFYUFOTJPOGPS)5.-EPDVNFOUT
    );=CHNIMB]F?NSJ?=I>?M
    5&95

    ,?LMIH?G;CF;>>L?MMNI=IHN;=N@IL@OLNB?LCH@ILG;NCIH
    *BO)JDLTPOJBO!IJYJFDI

    %HN?H>?>OM;A?
    $PNNPO

    .?MNLC=NCIHMIHOM;A?
    /PSFTUSJDUJPOTBQQMZ

    ONBIL
    *BO)JDLTPOJBO!IJYJFDI

    B;HA?=IHNLIFF?L
    8$BOE8)"58(

    'SBHNFOUJEFOUJИFSTVTFEXJUI UFYUIUNM Q SFTPVSDFTSFGFSUP UIFJOEJDBUFEQBSUPGUIFEPDVNFOU Q 

      O@SOCOHG N<I?=JS@?

    5IJTSFHJTUSBUJPOJTGPSDPNNVOJUZSFWJFXBOEXJMMCFTVCNJUUFEUPUIF*&4(GPSSFWJFX BQQSPWBM BOESFHJTUSBUJPOXJUI


    *"/"

    0SJ?H;G?
    UFYU

    /O<NSJ?H;G?
    IUNMTBOECPYFE

    .?KOCL?>J;L;G?N?LM
    /PSFRVJSFEQBSBNFUFST

    +JNCIH;FJ;L;G?N?LM
    4BNFBTGPS UFYUIUNM Q

    !H=I>CHA=IHMC>?L;NCIHM
    4BNFBTGPS UFYUIUNM Q

    /?=OLCNS=IHMC>?L;NCIHM
    5IFQVSQPTFPGUIF UFYUIUNMTBOECPYFE Q .*.&UZQFJTUPQSPWJEFBXBZGPSDPOUFOUQSPWJEFSTUPJOEJDBUFUIBU
    UIFZXBOUUIFИMFUPCFJOUFSQSFUFEJOBNBOOFSUIBUEPFTOPUHJWFUIFИMFTDPOUFOUTBDDFTTUPUIFSFTUPGUIF
    TJUF5IJTJTBDIJFWFECZBTTJHOJOHUIF %PDVNFOU Q PCKFDUTHFOFSBUFEGSPNSFTPVSDFTMBCFMFEBT UFYUIUNM
    TBOECPYFE Q VOJRVFPSJHJOT

    5PBWPJEIBWJOHMFHBDZVTFSBHFOUTUSFBUJOHSFTPVSDFTMBCFMFEBT UFYUIUNMTBOECPYFE Q BTSFHVMBS UFYU


    IUNM Q ИMFT BVUIPSTTIPVMEBWPJEVTJOHUIF IUNM PS IUN FYUFOTJPOTGPSSFTPVSDFTMBCFMFEBT UFYUIUNM
    TBOECPYFE Q 

    #FZPOEUIJT UIFUZQFJTJEFOUJDBMUP UFYUIUNM Q BOEUIFTBNFDPOTJEFSBUJPOTBQQMZ

    %HN?LIJ?L;<CFCNS=IHMC>?L;NCIHM
    4BNFBTGPS UFYUIUNM Q

    ,O<FCMB?>MJ?=C]=;NCIH
    5IJTEPDVNFOUJTUIFSFMFWBOUTQFDJИDBUJPO-BCFMJOHBSFTPVSDFXJUIUIF UFYUIUNMTBOECPYFE Q UZQFBTTFSUT
    UIBUUIFSFTPVSDFJTBO )5.-EPDVNFOU Q VTJOH UIF)5.-TZOUBY Q 

    JJFC=;NCIHMNB;NOM?NBCMG?>C;NSJ?
    4BNFBTGPS UFYUIUNM Q

    >>CNCIH;FCH@ILG;NCIH
    );AC=HOG<?LM
    %PDVNFOUTMBCFMFEBT UFYUIUNMTBOECPYFE Q BSFIFVSJTUJDBMMZJOEJTUJOHVJTIBCMFGSPNUIPTFMBCFMFEBT
    UFYUIUNM Q 

    
    "CF??RN?HMCIHM
    TBOECPYFE
    );=CHNIMB]F?NSJ?=I>?M
    5&95

    ,?LMIH?G;CF;>>L?MMNI=IHN;=N@IL@OLNB?LCH@ILG;NCIH
    *BO)JDLTPOJBO!IJYJFDI

    %HN?H>?>OM;A?
    $PNNPO

    .?MNLC=NCIHMIHOM;A?
    /PSFTUSJDUJPOTBQQMZ

    ONBIL
    *BO)JDLTPOJBO!IJYJFDI

    B;HA?=IHNLIFF?L
    8$BOE8)"58(

    'SBHNFOUJEFOUJИFSTVTFEXJUI UFYUIUNMTBOECPYFE Q SFTPVSDFTSFGFSUP UIFJOEJDBUFEQBSUPGUIFEPDVNFOU Q 

      <KKGD><ODJISCOHG
    SHG

    5IJTSFHJTUSBUJPOJTGPSDPNNVOJUZSFWJFXBOEXJMMCFTVCNJUUFEUPUIF*&4(GPSSFWJFX BQQSPWBM BOESFHJTUSBUJPOXJUI


    *"/"

    0SJ?H;G?
    BQQMJDBUJPO

    /O<NSJ?H;G?
    YIUNM YNM

    .?KOCL?>J;L;G?N?LM
    4BNFBTGPS BQQMJDBUJPOYNM <3'$> Q

    +JNCIH;FJ;L;G?N?LM
    4BNFBTGPS BQQMJDBUJPOYNM <3'$> Q

    !H=I>CHA=IHMC>?L;NCIHM
    4BNFBTGPS BQQMJDBUJPOYNM <3'$> Q

    /?=OLCNS=IHMC>?L;NCIHM
    4BNFBTGPS BQQMJDBUJPOYNM <3'$> Q

    %HN?LIJ?L;<CFCNS=IHMC>?L;NCIHM
    4BNFBTGPS BQQMJDBUJPOYNM <3'$> Q

    ,O<FCMB?>MJ?=C]=;NCIH
    -BCFMJOHBSFTPVSDFXJUIUIF BQQMJDBUJPOYIUNM YNM Q UZQFBTTFSUTUIBUUIFSFTPVSDFJTBO9.-EPDVNFOUUIBU
    MJLFMZIBTBSPPUFMFNFOUGSPNUIF )5.-OBNFTQBDF Q "TTVDI UIFSFMFWBOUTQFDJИDBUJPOTBSFUIF9.-
    TQFDJИDBUJPO UIF/BNFTQBDFTJO9.-TQFDJИDBUJPO BOEUIJTTQFDJИDBUJPO <9.-> Q <9.-/4> Q

    JJFC=;NCIHMNB;NOM?NBCMG?>C;NSJ?
    4BNFBTGPS BQQMJDBUJPOYNM <3'$> Q

    >>CNCIH;FCH@ILG;NCIH
    );AC=HOG<?LM
    4BNFBTGPS BQQMJDBUJPOYNM <3'$> Q
    "CF??RN?HMCIHM
    YIUNMBOEYIUBSFTPNFUJNFTVTFEBTFYUFOTJPOTGPS9.-SFTPVSDFTUIBUIBWFBSPPUFMFNFOUGSPNUIF
    )5.-OBNFTQBDF Q 
    );=CHNIMB]F?NSJ?=I>?M
    5&95

    ,?LMIH?G;CF;>>L?MMNI=IHN;=N@IL@OLNB?LCH@ILG;NCIH
    *BO)JDLTPOJBO!IJYJFDI

    
    %HN?H>?>OM;A?
    $PNNPO

    .?MNLC=NCIHMIHOM;A?
    /PSFTUSJDUJPOTBQQMZ

    ONBIL
    *BO)JDLTPOJBO!IJYJFDI

    B;HA?=IHNLIFF?L
    8$BOE8)"58(

    'SBHNFOUJEFOUJИFSTVTFEXJUI BQQMJDBUJPOYIUNM YNM Q SFTPVSDFTIBWFUIFTBNFTFNBOUJDTBTXJUIBOZ 9.-.*.&


    UZQF Q  <3'$> Q

      O@SO><>C@ H<IDA@NO

    5IJTSFHJTUSBUJPOJTGPSDPNNVOJUZSFWJFXBOEXJMMCFTVCNJUUFEUPUIF*&4(GPSSFWJFX BQQSPWBM BOESFHJTUSBUJPOXJUI


    *"/"

    0SJ?H;G?
    UFYU

    /O<NSJ?H;G?
    DBDIFNBOJGFTU

    .?KOCL?>J;L;G?N?LM
    /PQBSBNFUFST

    +JNCIH;FJ;L;G?N?LM
    /PQBSBNFUFST

    !H=I>CHA=IHMC>?L;NCIHM
    "MXBZT65'

    /?=OLCNS=IHMC>?L;NCIHM
    $BDIFNBOJGFTUTUIFNTFMWFTQPTFOPJNNFEJBUFSJTLVOMFTTTFOTJUJWFJOGPSNBUJPOJTJODMVEFEXJUIJOUIFNBOJGFTU
    *NQMFNFOUBUJPOT IPXFWFS BSFSFRVJSFEUPGPMMPXTQFDJИDSVMFTXIFOQPQVMBUJOHBDBDIFCBTFEPOBDBDIF
    NBOJGFTU UPFOTVSFUIBUDFSUBJOPSJHJOCBTFESFTUSJDUJPOTBSFIPOPSFE'BJMVSFUPDPSSFDUMZJNQMFNFOUUIFTFSVMFT
    DBOSFTVMUJOJOGPSNBUJPOMFBLBHF DSPTTTJUFTDSJQUJOHBUUBDLT BOEUIFMJLF

    %HN?LIJ?L;<CFCNS=IHMC>?L;NCIHM
    3VMFTGPSQSPDFTTJOHCPUIDPOGPSNJOHBOEOPODPOGPSNJOHDPOUFOUBSFEFИOFEJOUIJTTQFDJИDBUJPO

    ,O<FCMB?>MJ?=C]=;NCIH
    5IJTEPDVNFOUJTUIFSFMFWBOUTQFDJИDBUJPO

    JJFC=;NCIHMNB;NOM?NBCMG?>C;NSJ?
    8FCCSPXTFST

    >>CNCIH;FCH@ILG;NCIH
    );AC=HOG<?LM
    $BDIFNBOJGFTUTCFHJOXJUIUIFTUSJOH$"$)&."/*'&45 GPMMPXFECZFJUIFSB6 41"$&DIBSBDUFS B
    6 $)"3"$5&35"#6-"5*0/ UBC
    DIBSBDUFS B6 "-*/&'&&% -'
    DIBSBDUFS PSB6 %
    $"33*"(&3&563/ $3
    DIBSBDUFS
    "CF??RN?HMCIHM
    NBOJGFTU
    );=CHNIMB]F?NSJ?=I>?M
    /PTQFDJИD.BDJOUPTIИMFUZQFDPEFTBSFSFDPNNFOEFEGPSUIJTUZQF

    ,?LMIH?G;CF;>>L?MMNI=IHN;=N@IL@OLNB?LCH@ILG;NCIH
    *BO)JDLTPOJBO!IJYJFDI

    %HN?H>?>OM;A?
    $PNNPO

    .?MNLC=NCIHMIHOM;A?
    /PSFTUSJDUJPOTBQQMZ

    
    ONBIL
    *BO)JDLTPOJBO!IJYJFDI

    B;HA?=IHNLIFF?L
    8$BOE8)"58(

    'SBHNFOUJEFOUJИFSTIBWFOPNFBOJOHXJUI UFYUDBDIFNBOJGFTU Q SFTPVSDFT

      O@SOKDIB

    5IJTSFHJTUSBUJPOJTGPSDPNNVOJUZSFWJFXBOEXJMMCFTVCNJUUFEUPUIF*&4(GPSSFWJFX BQQSPWBM BOESFHJTUSBUJPOXJUI


    *"/"

    0SJ?H;G?
    UFYU

    /O<NSJ?H;G?
    QJOH

    .?KOCL?>J;L;G?N?LM
    /PQBSBNFUFST

    +JNCIH;FJ;L;G?N?LM
    /PQBSBNFUFST

    !H=I>CHA=IHMC>?L;NCIHM
    /PUBQQMJDBCMF

    /?=OLCNS=IHMC>?L;NCIHM
    *GVTFEFYDMVTJWFMZJOUIFGBTIJPOEFTDSJCFEJOUIFDPOUFYUPG IZQFSMJOLBVEJUJOH Q UIJTUZQFJOUSPEVDFTOPOFX
    TFDVSJUZDPODFSOT

    %HN?LIJ?L;<CFCNS=IHMC>?L;NCIHM
    3VMFTBQQMJDBCMFUPUIJTUZQFBSFEFИOFEJOUIJTTQFDJИDBUJPO

    ,O<FCMB?>MJ?=C]=;NCIH
    5IJTEPDVNFOUJTUIFSFMFWBOUTQFDJИDBUJPO

    JJFC=;NCIHMNB;NOM?NBCMG?>C;NSJ?
    8FCCSPXTFST

    >>CNCIH;FCH@ILG;NCIH
    );AC=HOG<?LM
    UFYUQJOH Q SFTPVSDFTBMXBZTDPOTJTUPGUIFGPVSCZUFTYYY&Y "4$**1*/(
    
    "CF??RN?HMCIHM
    /PTQFDJИDИMFFYUFOTJPOJTSFDPNNFOEFEGPSUIJTUZQF
    );=CHNIMB]F?NSJ?=I>?M
    /PTQFDJИD.BDJOUPTIИMFUZQFDPEFTBSFSFDPNNFOEFEGPSUIJTUZQF

    ,?LMIH?G;CF;>>L?MMNI=IHN;=N@IL@OLNB?LCH@ILG;NCIH
    *BO)JDLTPOJBO!IJYJFDI

    %HN?H>?>OM;A?
    $PNNPO

    .?MNLC=NCIHMIHOM;A?
    0OMZJOUFOEFEGPSVTFXJUI)5511045SFRVFTUTHFOFSBUFEBTQBSUPGB8FCCSPXTFSTQSPDFTTJOHPGUIF QJOH Q
    BUUSJCVUF

    ONBIL
    *BO)JDLTPOJBO!IJYJFDI

    B;HA?=IHNLIFF?L
    8$BOE8)"58(

    'SBHNFOUJEFOUJИFSTIBWFOPNFBOJOHXJUI UFYUQJOH Q SFTPVSDFT

    
      <KKGD><ODJIHD>MJ?<O<
    ENJI

    5IJTSFHJTUSBUJPOJTGPSDPNNVOJUZSFWJFXBOEXJMMCFTVCNJUUFEUPUIF*&4(GPSSFWJFX BQQSPWBM BOESFHJTUSBUJPOXJUI


    *"/"

    0SJ?H;G?
    BQQMJDBUJPO

    /O<NSJ?H;G?
    NJDSPEBUB KTPO

    .?KOCL?>J;L;G?N?LM
    4BNFBTGPS BQQMJDBUJPOKTPO <+40/> Q

    +JNCIH;FJ;L;G?N?LM
    4BNFBTGPS BQQMJDBUJPOKTPO <+40/> Q

    !H=I>CHA=IHMC>?L;NCIHM
    "MXBZT65'

    /?=OLCNS=IHMC>?L;NCIHM
    4BNFBTGPS BQQMJDBUJPOKTPO <+40/> Q

    %HN?LIJ?L;<CFCNS=IHMC>?L;NCIHM
    4BNFBTGPS BQQMJDBUJPOKTPO <+40/> Q

    ,O<FCMB?>MJ?=C]=;NCIH
    -BCFMJOHBSFTPVSDFXJUIUIF BQQMJDBUJPONJDSPEBUB KTPO Q UZQFBTTFSUTUIBUUIFSFTPVSDFJTB+40/UFYUUIBU
    DPOTJTUTPGBOPCKFDUXJUIBTJOHMFFOUSZDBMMFEJUFNTDPOTJTUJOHPGBOBSSBZPGFOUSJFT FBDIPGXIJDIDPOTJTUTPG
    BOPCKFDUXJUIUXPFOUSJFT POFDBMMFEUZQFXIPTFWBMVFJTBOBSSBZPGTUSJOHT BOEPOFDBMMFEQSPQFSUJFT
    XIPTFWBMVFJTBOPCKFDUXIPTFFOUSJFTFBDIIBWFBWBMVFDPOTJTUJOHPGBOBSSBZPGFJUIFSPCKFDUTPSTUSJOHT UIF
    PCKFDUTCFJOHPGUIFTBNFGPSNBTUIFPCKFDUTJOUIFBGPSFNFOUJPOFEJUFNTFOUSZ"TTVDI UIFSFMFWBOU
    TQFDJИDBUJPOTBSFUIF+40/TQFDJИDBUJPOBOEUIJTTQFDJИDBUJPO <+40/> Q

    JJFC=;NCIHMNB;NOM?NBCMG?>C;NSJ?
    4BNFBTGPS BQQMJDBUJPOKTPO <+40/> Q

    >>CNCIH;FCH@ILG;NCIH
    );AC=HOG<?LM
    4BNFBTGPS BQQMJDBUJPOKTPO <+40/> Q
    "CF??RN?HMCIHM
    4BNFBTGPS BQQMJDBUJPOKTPO <+40/> Q
    );=CHNIMB]F?NSJ?=I>?M
    4BNFBTGPS BQQMJDBUJPOKTPO <+40/> Q

    ,?LMIH?G;CF;>>L?MMNI=IHN;=N@IL@OLNB?LCH@ILG;NCIH
    *BO)JDLTPOJBO!IJYJFDI

    %HN?H>?>OM;A?
    $PNNPO

    .?MNLC=NCIHMIHOM;A?
    /PSFTUSJDUJPOTBQQMZ

    ONBIL
    *BO)JDLTPOJBO!IJYJFDI

    B;HA?=IHNLIFF?L
    8$BOE8)"58(

    'SBHNFOUJEFOUJИFSTVTFEXJUI BQQMJDBUJPONJDSPEBUB KTPO Q SFTPVSDFTIBWFUIFTBNFTFNBOUJDTBTXIFOVTFE


    XJUI BQQMJDBUJPOKTPO <+40/> Q

      .DIB $MJH

    5IJTTFDUJPOEFTDSJCFTBIFBEFSИFMEGPSSFHJTUSBUJPOJOUIF1FSNBOFOU.FTTBHF)FBEFS'JFME3FHJTUSZ <3'$> Q

    
    $?;>?L]?F>H;G?
    1JOH'SPN

    JJFC=;<F?JLINI=IF
    IUUQ

    /N;NOM
    TUBOEBSE

    ONBIL B;HA?=IHNLIFF?L
    8$BOE8)"58(

    /J?=C]=;NCIH>I=OG?HNM
    5IJTEPDVNFOUJTUIFSFMFWBOUTQFDJИDBUJPO

    .?F;N?>CH@ILG;NCIH
    /POF

      .DIB 2J

    5IJTTFDUJPOEFTDSJCFTBIFBEFSИFMEGPSSFHJTUSBUJPOJOUIF1FSNBOFOU.FTTBHF)FBEFS'JFME3FHJTUSZ <3'$> Q

    $?;>?L]?F>H;G?
    1JOH5P

    JJFC=;<F?JLINI=IF
    IUUQ

    /N;NOM
    TUBOEBSE

    ONBIL B;HA?=IHNLIFF?L
    8$BOE8)"58(

    /J?=C]=;NCIH>I=OG?HNM
    5IJTEPDVNFOUJTUIFSFMFWBOUTQFDJИDBUJPO

    .?F;N?>CH@ILG;NCIH
    /POF

    
    %H>?R
    5IFGPMMPXJOHTFDUJPOTPOMZDPWFSDPOGPSNJOHFMFNFOUTBOEGFBUVSFT

    !F?G?HNM

    *78BB42C8>=8B=>==>A<0C8E4

    -JTUPGFMFNFOUT
    !F?G?HN ?M=LCJNCIH ;N?AILC?M ,;L?HNM BCF>L?H NNLC<ON?M %HN?L@;=?
    K Q Q Q Q Q
    < )ZQFSMJOL ЙPX  QISBTJOH USBOTQBSFOU HMPCBMT  ISFG  )5.-"ODIPS&MFNFOU Q
    QISBTJOH Q  UBSHFU Q  QJOH Q 
    JOUFSBDUJWF Q SFM Q  NFEJB Q 
    ISFGMBOH Q  UZQF Q
    <==M K "CCSFWJBUJPO ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    QISBTJOH Q
    <??M@NN K $POUBDU ЙPX Q  ЙPX Q ЙPX Q HMPCBMT Q )5.-&MFNFOU Q
    JOGPSNBUJPO GPSNBU#MPDL
    GPSBQBHFPS DBOEJEBUF Q
    TFDUJPO
    <M@< K )ZQFSMJOLPS ЙPX Q  QISBTJOH Q FNQUZ HMPCBMT Q  BMU Q  )5.-"SFB&MFNFOU Q
    EFBEBSFBPO QISBTJOH Q DPPSET Q  TIBQF Q 
    BOJNBHF ISFG Q  UBSHFU Q 
    NBQ QJOH Q  SFM Q 
    NFEJB Q 
    ISFGMBOH Q  UZQF Q
    <MOD>G@ K 4FMG ЙPX Q  ЙPX Q ЙPX Q HMPCBMT Q )5.-&MFNFOU Q
    DPOUBJOFE TFDUJPOJOH Q 
    TZOEJDBUBCMF GPSNBU#MPDL
    PSSFVTBCMF DBOEJEBUF Q
    DPNQPTJUJPO
    <ND?@ K 4JEFCBSGPS ЙPX Q  ЙPX Q ЙPX Q HMPCBMT Q )5.-&MFNFOU Q
    UBOHFOUJBMMZ TFDUJPOJOH Q 
    SFMBUFE GPSNBU#MPDL
    DPOUFOU DBOEJEBUF Q
    <P?DJ K "VEJPQMBZFS ЙPX Q  QISBTJOH Q TPVSDF Q  HMPCBMT Q  TSD Q  )5.-"VEJP&MFNFOU Q
    QISBTJOH Q  USBOTQBSFOU Q QSFMPBE Q
    
    FNCFEEFE Q  BVUPQMBZ Q  MPPQ Q 
    JOUFSBDUJWF Q DPOUSPMT Q

    = K ,FZXPSET ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    QISBTJOH Q
    =<N@ K #BTF63-BOE NFUBEBUB Q IFBE Q FNQUZ HMPCBMT Q  ISFG Q  )5.-#BTF&MFNFOU Q
    EFGBVMUUBSHFU UBSHFU Q
    CSPXTJOH
    DPOUFYU Q
    GPS
    IZQFSMJOLT Q
    BOE GPSNT Q
    =?J K 5FYU ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    EJSFDUJPOBMJUZ QISBTJOH Q
    GPSNBUUJOH
    =GJ>FLPJO@ K "TFDUJPO ЙPX Q  ЙPX Q ЙPX Q HMPCBMT Q  DJUF Q )5.-2VPUF&MFNFOU Q
    RVPUFEGSPN TFDUJPOJOH
    BOPUIFS SPPU Q 
    TPVSDF GPSNBU#MPDL
    DBOEJEBUF Q
    =J?T K %PDVNFOU TFDUJPOJOH IUNM Q ЙPX Q HMPCBMT Q  )5.-#PEZ&MFNFOU Q
    CPEZ SPPU Q POBGUFSQSJOU Q 
    POCFGPSFQSJOU Q 
    POCFGPSFVOMPBE Q 
    POCMVS Q 
    POFSSPS Q 
    POGPDVT Q 
    POIBTIDIBOHF Q 
    POMPBE Q 
    PONFTTBHF Q 
    POPGGMJOF Q 
    POPOMJOF Q 
    POQBHFIJEF Q 
    POQBHFTIPX Q 
    POQPQTUBUF Q 

    
    !F?G?HN ?M=LCJNCIH ;N?AILC?M ,;L?HNM BCF>L?H NNLC<ON?M %HN?L@;=?
    POSFEP Q 
    POSFTJ[F Q 
    POTUPSBHF Q 
    POVOEP Q 
    POVOMPBE Q
    =M K -JOFCSFBL ЙPX Q  QISBTJOH Q FNQUZ HMPCBMT Q )5.-#3&MFNFOU Q
    FHJOQPFN QISBTJOH Q
    PSQPTUBM
    BEESFTT
    =POOJI K #VUUPODPOUSPM ЙPX Q  QISBTJOH Q 1ISBTJOH HMPCBMT Q  )5.-#VUUPO&MFNFOU Q
    QISBTJOH  Q
    DPOUFOU Q BVUPGPDVT Q
    
    JOUFSBDUJWF Q  EJTBCMFE Q  GPSN Q 
    MJTUFE Q  GPSNBDUJPO Q
    
    MBCFMBCMF Q  GPSNFODUZQF Q 
    TVCNJUUBCMF Q  GPSNNFUIPE Q 
    GPSN GPSNOPWBMJEBUF Q 
    BTTPDJBUFE Q GPSNUBSHFU Q 
    OBNF Q  UZQF Q 
    WBMVF Q
    ><IQ<N K 4DSJQUBCMF ЙPX Q  QISBTJOH Q USBOTQBSFOU Q HMPCBMT Q  XJEUI Q  )5.-$BOWBT&MFNFOU Q
    CJUNBQ QISBTJOH Q  IFJHIU Q
    DBOWBT FNCFEEFE Q
    ><KODJI K 5BCMFDBQUJPO OPOF UBCMF Q ЙPX Q HMPCBMT Q )5.-5BCMF$BQUJPO&MFNFOU Q
    >DO@ K 5JUMFPGBXPSL ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    QISBTJOH Q
    >J?@ K $PNQVUFS ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    DPEF QISBTJOH Q
    >JG K 5BCMFDPMVNO OPOF DPMHSPVQ Q FNQUZ HMPCBMT Q  TQBO Q )5.-5BCMF$PM&MFNFOU Q
    K Q Q Q Q
    >JGBMJPK (SPVQPG OPOF UBCMF DPM HMPCBMT  TQBO )5.-5BCMF$PM&MFNFOU Q
    DPMVNOTJOB
    UBCMF
    >JHH<I? K .FOV NFUBEBUB Q  IFBE Q  FNQUZ HMPCBMT Q  UZQF Q  )5.-$PNNBOE&MFNFOU Q
    DPNNBOE ЙPX Q  QISBTJOH Q MBCFM Q  JDPO Q 
    QISBTJOH Q EJTBCMFE Q 
    DIFDLFE Q 
    SBEJPHSPVQ Q
    ?<O<GDNO K $POUBJOFSGPS ЙPX Q  QISBTJOH Q QISBTJOH Q  HMPCBMT Q )5.-%BUB-JTU&MFNFOU Q
    PQUJPOTGPS QISBTJOH Q PQUJPO Q
    DPNCPCPY
    DPOUSPM Q
    ?? K $POUFOUGPS OPOF EM Q ЙPX Q HMPCBMT Q )5.-&MFNFOU Q
    DPSSFTQPOEJOH
    EU Q
    FMFNFOU T

    ?@G K "SFNPWBM ЙPX Q  QISBTJOH Q USBOTQBSFOU Q HMPCBMT Q  DJUF Q  )5.-.PE&MFNFOU Q
    GSPNUIF QISBTJOH Q EBUFUJNF Q
    EPDVNFOU
    ?@O<DGN K %JTDMPTVSF ЙPX Q  ЙPX Q TVNNBSZ Q  HMPCBMT Q  PQFO Q )5.-%FUBJMT&MFNFOU Q
    DPOUSPMGPS TFDUJPOJOH ЙPX Q
    IJEJOHEFUBJMT SPPU Q 
    JOUFSBDUJWF Q
    ?AI K %FИOJOH ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    JOTUBODF QISBTJOH Q
    ?DQ K (FOFSJDЙPX ЙPX Q  ЙPX Q ЙPX Q HMPCBMT Q )5.-%JW&MFNFOU Q
    DPOUBJOFS GPSNBU#MPDL
    DBOEJEBUF Q
    ?G K "TTPDJBUJPO ЙPX Q ЙPX Q EU Q  EE Q HMPCBMT Q )5.-%-JTU&MFNFOU Q
    MJTUDPOTJTUJOH
    PG[FSPPS
    NPSFOBNF
    WBMVFHSPVQT
    ?O K -FHFOEGPS OPOF EM Q WBSJFT HMPCBMT Q )5.-&MFNFOU Q
    DPSSFTQPOEJOH
    EE Q
    FMFNFOU T

    @H K 4USFTT ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    FNQIBTJT QISBTJOH Q

    
    !F?G?HN ?M=LCJNCIH ;N?AILC?M ,;L?HNM BCF>L?H NNLC<ON?M %HN?L@;=?
    @H=@? K 1MVHJO Q ЙPX Q  QISBTJOH Q FNQUZ HMPCBMT Q  TSD Q  )5.-&NCFE&MFNFOU Q
    QISBTJOH Q  UZQF Q  XJEUI Q 
    FNCFEEFE Q  IFJHIU Q BOZ
    JOUFSBDUJWF Q
    AD@G?N@O K (SPVQPGGPSN ЙPX Q  ЙPX Q MFHFOE Q  HMPCBMT Q  )5.-'JFME4FU&MFNFOU Q
    DPOUSPMT TFDUJPOJOH ЙPX Q EJTBCMFE Q  GPSN Q 
    SPPU Q  OBNF Q
    MJTUFE Q  GPSN
    BTTPDJBUFE Q
    ADB><KODJI K $BQUJPOGPS OPOF GJHVSF Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    GJHVSF Q
    ADBPM@ K 'JHVSFXJUI ЙPX Q  ЙPX Q GJHDBQUJPO Q  HMPCBMT Q )5.-&MFNFOU Q
    PQUJPOBM TFDUJPOJOH ЙPX Q
    DBQUJPO SPPU Q
    AJJO@M K 'PPUFSGPSB ЙPX Q  ЙPX Q ЙPX Q HMPCBMT Q )5.-&MFNFOU Q
    QBHFPS GPSNBU#MPDL
    TFDUJPO DBOEJEBUF Q
    AJMH K 6TFS ЙPX Q ЙPX Q ЙPX Q HMPCBMT Q  BDDFQU )5.-'PSN&MFNFOU Q
    TVCNJUUBCMF DIBSTFU Q 
    GPSN BDUJPO Q 
    BVUPDPNQMFUF Q 
    FODUZQF Q 
    NFUIPE Q  OBNF Q 
    OPWBMJEBUF Q 
    UBSHFU Q
    C K
    C K
    4FDUJPO ЙPX Q  IHSPVQ Q  QISBTJOH Q HMPCBMT Q )5.-)FBEJOH&MFNFOU Q
    C K
    C K
    IFBEJOH IFBEJOH Q  ЙPX Q
    C K
    C K GPSNBU#MPDL
    DBOEJEBUF Q
    C@<? K $POUBJOFSGPS OPOF IUNM Q NFUBEBUB HMPCBMT Q )5.-)FBE&MFNFOU Q
    EPDVNFOU DPOUFOU Q
    NFUBEBUB
    C@<?@M K *OUSPEVDUPSZ ЙPX Q  ЙPX Q ЙPX Q HMPCBMT Q )5.-&MFNFOU Q
    PS GPSNBU#MPDL
    OBWJHBUJPOBM DBOEJEBUF Q
    BJETGPSB
    QBHFPS
    TFDUJPO
    CBMJPK K IFBEJOH ЙPX Q  ЙPX Q 0OFPSNPSF HMPCBMT Q )5.-&MFNFOU Q
    HSPVQ IFBEJOH Q  I Q I Q
    GPSNBU#MPDL I Q I Q
    DBOEJEBUF Q I Q BOEPS
    I Q
    CM K 5IFNBUJD ЙPX Q ЙPX Q FNQUZ HMPCBMT Q )5.-)3&MFNFOU Q
    CSFBL
    COHG K 3PPUFMFNFOU OPOF OPOF IFBE Q  HMPCBMT Q  )5.-)UNM&MFNFOU Q
    CPEZ Q NBOJGFTU Q
    D K "MUFSOBUF ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    WPJDF QISBTJOH Q
    DAM<H@ K /FTUFE ЙPX Q  QISBTJOH Q UFYU HMPCBMT Q  TSD Q  )5.-*'SBNF&MFNFOU Q
    CSPXTJOH QISBTJOH Q  TSDEPD Q  OBNF Q 
    DPOUFYU Q FNCFEEFE Q  TBOECPY Q 
    JOUFSBDUJWF Q TFBNMFTT Q 
    XJEUI Q  IFJHIU Q
    DHB K *NBHF ЙPX Q  QISBTJOH Q FNQUZ HMPCBMT Q  BMU Q  )5.-*NBHF&MFNFOU Q
    QISBTJOH Q  TSD Q  VTFNBQ Q 
    FNCFEEFE Q  JTNBQ Q  XJEUI Q 
    JOUFSBDUJWF Q IFJHIU Q
    DIKPO K 'PSNDPOUSPM ЙPX Q  QISBTJOH Q FNQUZ HMPCBMT Q  BDDFQU Q  )5.-*OQVU&MFNFOU Q
    QISBTJOH Q  BMU Q 
    JOUFSBDUJWF Q  BVUPDPNQMFUF Q 
    MJTUFE Q  BVUPGPDVT Q 
    MBCFMBCMF Q  DIFDLFE Q 
    TVCNJUUBCMF Q  EJTBCMFE Q  GPSN Q 
    SFTFUUBCMF Q  GPSNBDUJPO Q 
    GPSN GPSNFODUZQF Q 
    BTTPDJBUFE Q GPSNNFUIPE Q 
    GPSNOPWBMJEBUF Q 
    GPSNUBSHFU Q 
    IFJHIU Q  MJTU Q 

    
    !F?G?HN ?M=LCJNCIH ;N?AILC?M ,;L?HNM BCF>L?H NNLC<ON?M %HN?L@;=?
    NBY Q  NBYMFOHUI Q 
    NJO Q  NVMUJQMF Q 
    OBNF Q  QBUUFSO Q 
    QMBDFIPMEFS Q 
    SFBEPOMZ Q 
    SFRVJSFE Q  TJ[F Q 
    TSD Q  TUFQ Q 
    UZQF Q  WBMVF Q 
    XJEUI Q
    DIN K "OBEEJUJPOUP ЙPX Q  QISBTJOH Q USBOTQBSFOU Q HMPCBMT Q  DJUF Q  )5.-.PE&MFNFOU Q
    UIFEPDVNFOU QISBTJOH Q EBUFUJNF Q
    F=? K 6TFSJOQVU ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    QISBTJOH Q
    F@TB@I K $SZQUPHSBQIJD ЙPX Q  QISBTJOH Q FNQUZ HMPCBMT Q  )5.-,FZHFO&MFNFOU Q
    LFZQBJS QISBTJOH Q  BVUPGPDVT Q 
    HFOFSBUPS JOUFSBDUJWF Q  DIBMMFOHF Q 
    GPSNDPOUSPM MJTUFE Q  EJTBCMFE Q  GPSN Q 
    MBCFMBCMF Q  LFZUZQF Q  OBNF Q
    TVCNJUUBCMF Q 
    SFTFUUBCMF Q 
    GPSN
    BTTPDJBUFE Q
    G<=@G K $BQUJPOGPSB ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q  GPSN Q  )5.--BCFM&MFNFOU Q
    GPSNDPOUSPM QISBTJOH Q  GPS Q
    JOUFSBDUJWF Q 
    GPSN
    BTTPDJBUFE Q
    G@B@I? K $BQUJPOGPS OPOF GJFMETFU Q QISBTJOH Q HMPCBMT Q )5.--FHFOE&MFNFOU Q
    GJFMETFU Q
    GD K -JTUJUFN OPOF PM Q  VM Q  ЙPX Q HMPCBMT Q  WBMVF Q )5.--*&MFNFOU Q
    NFOV Q
    GDIF K -JOL NFUBEBUB Q  IFBE Q  FNQUZ HMPCBMT Q  ISFG Q  )5.--JOL&MFNFOU Q
    NFUBEBUB ЙPX Q  OPTDSJQU Q  SFM Q  NFEJB Q 
    QISBTJOH Q QISBTJOH Q ISFGMBOH Q  UZQF Q 
    TJ[FT Q
    H<K K *NBHF ЙPX Q  QISBTJOH Q USBOTQBSFOU Q  HMPCBMT Q  OBNF Q )5.-.BQ&MFNFOU Q
    NBQ Q QISBTJOH Q BSFB Q
    H<MF K )JHIMJHIU ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    QISBTJOH Q
    H@IP K .FOVPG ЙPX Q  ЙPX Q MJ Q  ЙPX Q HMPCBMT Q  UZQF Q  )5.-.FOV&MFNFOU Q
    DPNNBOET JOUFSBDUJWF Q MBCFM Q
    H@O< K 5FYU NFUBEBUB Q  IFBE Q  FNQUZ HMPCBMT Q  OBNF Q  )5.-.FUB&MFNFOU Q
    NFUBEBUB ЙPX Q  OPTDSJQU Q  IUUQFRVJW Q 
    QISBTJOH Q QISBTJOH Q DPOUFOU Q 
    DIBSTFU Q
    H@O@M K (BVHF ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q  WBMVF Q  )5.-.FUFS&MFNFOU Q
    QISBTJOH Q  NJO Q  NBY Q 
    MBCFMBCMF Q  MPX Q  IJHI Q 
    GPSN PQUJNVN Q  GPSN Q
    BTTPDJBUFE Q
    I<Q K 4FDUJPOXJUI ЙPX Q  ЙPX Q ЙPX Q HMPCBMT Q )5.-&MFNFOU Q
    OBWJHBUJPOBM TFDUJPOJOH Q 
    MJOLT GPSNBU#MPDL
    DBOEJEBUF Q
    IJN>MDKO K 'BMMCBDL NFUBEBUB Q  IFBE Q  WBSJFT HMPCBMT Q )5.-&MFNFOU Q
    DPOUFOUGPS ЙPX Q  QISBTJOH Q
    TDSJQU QISBTJOH Q
    J=E@>O K *NBHF ЙPX Q  QISBTJOH Q QBSBN Q  HMPCBMT Q  EBUB Q  )5.-0CKFDU&MFNFOU Q
    OFTUFE QISBTJOH Q  USBOTQBSFOU Q UZQF Q  OBNF Q 
    CSPXTJOH FNCFEEFE Q  VTFNBQ Q  GPSN Q 
    DPOUFYU Q PS JOUFSBDUJWF Q  XJEUI Q  IFJHIU Q
    QMVHJO Q MJTUFE Q 
    TVCNJUUBCMF Q 
    GPSN
    BTTPDJBUFE Q
    JG K 0SEFSFEMJTU ЙPX Q ЙPX Q MJ Q HMPCBMT Q  )5.-0-JTU&MFNFOU Q
    SFWFSTFE Q  TUBSU Q

    
    !F?G?HN ?M=LCJNCIH ;N?AILC?M ,;L?HNM BCF>L?H NNLC<ON?M %HN?L@;=?
    JKOBMJPK K (SPVQPG OPOF TFMFDU Q PQUJPO Q HMPCBMT Q  )5.-0QU(SPVQ&MFNFOU Q
    PQUJPOTJOB EJTBCMFE Q  MBCFM Q
    MJTUCPY
    JKODJI K 0QUJPOJOB OPOF TFMFDU Q  UFYU Q HMPCBMT Q  )5.-0QUJPO&MFNFOU Q
    MJTUCPYPS EBUBMJTU Q  EJTBCMFE Q 
    DPNCPCPY PQUHSPVQ Q MBCFM Q 
    DPOUSPM TFMFDUFE Q  WBMVF Q
    JPOKPO K $BMDVMBUFE ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q  GPS Q  )5.-0VUQVU&MFNFOU Q
    PVUQVUWBMVF QISBTJOH Q  GPSN Q  OBNF Q
    MJTUFE Q 
    MBCFMBCMF Q 
    SFTFUUBCMF Q 
    GPSN
    BTTPDJBUFE Q
    K K 1BSBHSBQI ЙPX Q  ЙPX Q QISBTJOH Q HMPCBMT Q )5.-1BSBHSBQI&MFNFOU Q
    GPSNBU#MPDL
    DBOEJEBUF Q
    K<M<H K 1BSBNFUFSGPS OPOF PCKFDU Q FNQUZ HMPCBMT Q  OBNF Q  )5.-1BSBN&MFNFOU Q
    PCKFDU Q WBMVF Q
    KM@ K #MPDLPG ЙPX Q  ЙPX Q QISBTJOH Q HMPCBMT Q )5.-1SF&MFNFOU Q
    QSFGPSNBUUFE GPSNBU#MPDL
    UFYU DBOEJEBUF Q
    KMJBM@NN K 1SPHSFTTCBS ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q  WBMVF Q  )5.-1SPHSFTT&MFNFOU Q
    QISBTJOH Q  NBY Q  GPSN Q
    MBCFMBCMF Q 
    GPSN
    BTTPDJBUFE Q
    L K 2VPUBUJPO ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q  DJUF Q )5.-2VPUF&MFNFOU Q
    QISBTJOH Q
    MK K 1BSFOUIFTJT OPOF SVCZ Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    GPSSVCZ
    BOOPUBUJPO
    UFYU
    MO K 3VCZ OPOF SVCZ Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    BOOPUBUJPO
    UFYU
    MP=T K 3VCZ ЙPX Q  QISBTJOH Q QISBTJOH Q  HMPCBMT Q )5.-&MFNFOU Q
    BOOPUBUJPO T
    QISBTJOH Q SU Q FMFNFOU
    SQ Q FMFNFOU
    N<HK K $PNQVUFS ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    PVUQVU QISBTJOH Q
    N>MDKO K &NCFEEFE NFUBEBUB Q  IFBE Q  TDSJQU EBUB PS HMPCBMT Q  TSD Q  )5.-4DSJQU&MFNFOU Q
    TDSJQU ЙPX Q  QISBTJOH Q TDSJQU BTZOD Q  EFGFS Q 
    QISBTJOH Q EPDVNFOUBUJPO UZQF Q  DIBSTFU Q
    N@>ODJI K (FOFSJD ЙPX Q  ЙPX Q ЙPX Q HMPCBMT Q )5.-&MFNFOU Q
    EPDVNFOUPS TFDUJPOJOH Q 
    BQQMJDBUJPO GPSNBU#MPDL
    TFDUJPO DBOEJEBUF Q
    N@G@>O K -JTUCPY ЙPX Q  QISBTJOH Q PQUJPO Q HMPCBMT Q  )5.-4FMFDU&MFNFOU Q
    DPOUSPM QISBTJOH Q  PQUHSPVQ Q BVUPGPDVT Q 
    JOUFSBDUJWF Q  EJTBCMFE Q  GPSN Q 
    MJTUFE Q  NVMUJQMF Q  OBNF Q 
    MBCFMBCMF Q  TJ[F Q
    TVCNJUUBCMF Q 
    SFTFUUBCMF Q 
    GPSN
    BTTPDJBUFE Q
    NH<GG K 4JEF ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    DPNNFOU QISBTJOH Q
    NJPM>@ K .FEJBTPVSDF OPOF WJEFP Q  FNQUZ HMPCBMT Q  TSD Q  )5.-4PVSDF&MFNFOU Q
    GPS WJEFP Q BVEJP Q UZQF Q  NFEJB Q
    PS BVEJP Q
    NK<I K (FOFSJD ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-4QBO&MFNFOU Q
    QISBTJOH QISBTJOH Q
    DPOUBJOFS
    NOMJIB K *NQPSUBODF ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    QISBTJOH Q

    
    !F?G?HN ?M=LCJNCIH ;N?AILC?M ,;L?HNM BCF>L?H NNLC<ON?M %HN?L@;=?
    NOTG@ K &NCFEEFE NFUBEBUB Q  IFBE Q  WBSJFT HMPCBMT Q  NFEJB Q  )5.-4UZMF&MFNFOU Q
    TUZMJOH ЙPX Q OPTDSJQU Q  UZQF Q  TDPQFE Q
    JOGPSNBUJPO ЙPX Q
    NP= K 4VCTDSJQU ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    QISBTJOH Q
    NPHH<MT K $BQUJPOGPS OPOF EFUBJMT Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    EFUBJMT Q
    NPK K 4VQFSTDSJQU ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q )5.-&MFNFOU Q
    QISBTJOH Q
    O<=G@ K 5BCMF ЙPX Q ЙPX Q DBQUJPO Q  HMPCBMT Q  TVNNBSZ Q )5.-5BCMF&MFNFOU Q
    DPMHSPVQ Q 
    UIFBE Q 
    UCPEZ Q 
    UGPPU Q 
    US Q
    O=J?T K (SPVQPGSPXT OPOF UBCMF Q US Q HMPCBMT Q )5.-5BCMF4FDUJPO&MFNFOU Q
    JOBUBCMF
    O? K 5BCMFDFMM TFDUJPOJOH US Q ЙPX Q HMPCBMT Q  DPMTQBO Q  )5.-5BCMF%BUB$FMM&MFNFOU Q
    SPPU Q SPXTQBO Q 
    IFBEFST Q
    O@SO<M@< K .VMUJMJOFUFYU ЙPX Q  QISBTJOH Q UFYU Q HMPCBMT Q  )5.-5FYU"SFB&MFNFOU Q
    ИFME QISBTJOH Q  BVUPGPDVT Q 
    JOUFSBDUJWF Q  DPMT Q  EJTBCMFE Q 
    MJTUFE Q  GPSN Q 
    MBCFMBCMF Q  NBYMFOHUI Q 
    TVCNJUUBCMF Q  OBNF Q 
    SFTFUUBCMF Q  QMBDFIPMEFS Q 
    GPSN SFBEPOMZ Q 
    BTTPDJBUFE Q SFRVJSFE Q  SPXT Q 
    XSBQ Q
    OAJJO K (SPVQPG OPOF UBCMF Q US Q HMPCBMT Q )5.-5BCMF4FDUJPO&MFNFOU Q
    GPPUFSSPXTJO
    BUBCMF
    OC K 5BCMFIFBEFS OPOF US Q QISBTJOH Q HMPCBMT Q  DPMTQBO Q  )5.-5BCMF)FBEFS$FMM&MFNFOU Q
    DFMM SPXTQBO Q 
    IFBEFST Q  TDPQF Q
    OC@<? K (SPVQPG OPOF UBCMF Q US Q HMPCBMT Q )5.-5BCMF4FDUJPO&MFNFOU Q
    IFBEJOHSPXT
    JOBUBCMF
    ODH@ K %BUFBOEPS ЙPX Q  QISBTJOH Q QISBTJOH Q HMPCBMT Q  )5.-5JNF&MFNFOU Q
    UJNF QISBTJOH Q EBUFUJNF Q 
    QVCEBUF Q
    ODOG@ K %PDVNFOU NFUBEBUB Q IFBE Q UFYU Q HMPCBMT Q )5.-5JUMF&MFNFOU Q
    UJUMF
    OM K 5BCMFSPX OPOF UBCMF Q  UI Q  UE Q HMPCBMT Q )5.-5BCMF3PX&MFNFOU Q
    UIFBE Q 
    UCPEZ Q 
    UGPPU Q
    PG K -JTU ЙPX Q ЙPX Q MJ Q HMPCBMT Q )5.-6-JTU&MFNFOU Q
    K Q Q Q Q
    Q<M 7BSJBCMF ЙPX  QISBTJOH QISBTJOH HMPCBMT )5.-&MFNFOU Q
    QISBTJOH Q
    QD?@J K 7JEFPQMBZFS ЙPX Q  QISBTJOH Q TPVSDF Q  HMPCBMT Q  TSD Q  )5.-7JEFP&MFNFOU Q
    QISBTJOH Q  USBOTQBSFOU Q QPTUFS Q 
    FNCFEEFE Q  QSFMPBE Q 
    JOUFSBDUJWF Q BVUPQMBZ Q  MPPQ Q 
    DPOUSPMT Q 
    XJEUI Q  IFJHIU Q
    R=M K -JOFCSFBLJOH ЙPX Q  QISBTJOH Q FNQUZ HMPCBMT Q )5.-&MFNFOU Q
    PQQPSUVOJUZ QISBTJOH Q

    "OBTUFSJTL
    JOBDFMMJOEJDBUFTUIBUUIFBDUVBMSVMFTBSFNPSFDPNQMJDBUFEUIBOJOEJDBUFEJOUIFUBCMFBCPWF

    !F?G?HN=IHN?HN=;N?AILC?M

    *78BB42C8>=8B=>==>A<0C8E4

    
    -JTUPGFMFNFOUDPOUFOUDBUFHPSJFT
    ;N?AILS !F?G?HNM !F?G?HNMQCNB?R=?JNCIHM

    .FUBEBUB CBTF Q  DPNNBOE Q  MJOL Q  NFUB Q  OPTDSJQU Q  TDSJQU Q  TUZMF Q  ǡ
    DPOUFOU Q UJUMF Q
    'MPX B Q  BCCS Q  BEESFTT Q  BSUJDMF Q  BTJEF Q  BVEJP Q  C Q  CEP Q  BSFB Q JGJUJTBEFTDFOEBOUPGB
    DPOUFOU Q CMPDLRVPUF Q  CS Q  CVUUPO Q  DBOWBT Q  DJUF Q  DPEF Q  DPNNBOE Q  NBQ Q FMFNFOU
     MJOL Q JGUIF
    EBUBMJTU Q  EFM Q  EFUBJMT Q  EGO Q  EJW Q  EM Q  FN Q  FNCFE Q  JUFNQSPQ Q BUUSJCVUFJTQSFTFOU
    
    GJFMETFU Q  GJHVSF Q  GPPUFS Q  GPSN Q  I Q  I Q  I Q  I Q  I Q  NFUB Q JGUIF JUFNQSPQ Q BUUSJCVUF
    I Q  IFBEFS Q  IHSPVQ Q  IS Q  J Q  JGSBNF Q  JNH Q  JOQVU Q  JOT Q  JTQSFTFOU
     TUZMF Q JGUIF TDPQFE Q
    LCE Q  LFZHFO Q  MBCFM Q  NBQ Q  NBSL Q  NBUI Q  NFOV Q  NFUFS Q  OBW Q  BUUSJCVUFJTQSFTFOU

    OPTDSJQU Q  PCKFDU Q  PM Q  PVUQVU Q  Q Q  QSF Q  QSPHSFTT Q  R Q 
    SVCZ Q  TBNQ Q  TDSJQU Q  TFDUJPO Q  TFMFDU Q  TNBMM Q  TQBO Q  TUSPOH Q 
    TVC Q  TVQ Q  TWH Q  UBCMF Q  UFYUBSFB Q  UJNF Q  VM Q  WBS Q  WJEFP Q 
    XCS Q  5FYU Q
    4FDUJPOJOH BSUJDMF Q  BTJEF Q  OBW Q  TFDUJPO Q ǡ
    DPOUFOU Q
    )FBEJOH I Q  I Q  I Q  I Q  I Q  I Q  IHSPVQ Q ǡ
    DPOUFOU Q
    1ISBTJOH BCCS Q  BVEJP Q  C Q  CEP Q  CS Q  CVUUPO Q  DBOWBT Q  DJUF Q  DPEF Q  B Q JGJUDPOUBJOTPOMZ QISBTJOH
    DPOUFOU Q DPNNBOE Q  EBUBMJTU Q  EGO Q  FN Q  FNCFE Q  J Q  JGSBNF Q  JNH Q  DPOUFOU Q
     BSFB Q JGJUJTB
    JOQVU Q  LCE Q  LFZHFO Q  MBCFM Q  NBSL Q  NBUI Q  NFUFS Q  OPTDSJQU Q  EFTDFOEBOUPGB NBQ Q FMFNFOU
    
    PCKFDU Q  PVUQVU Q  QSPHSFTT Q  R Q  SVCZ Q  TBNQ Q  TDSJQU Q  TFMFDU Q  EFM Q JGJUDPOUBJOTPOMZ QISBTJOH
    TNBMM Q  TQBO Q  TUSPOH Q  TVC Q  TVQ Q  TWH Q  UFYUBSFB Q  UJNF Q  DPOUFOU Q
     JOT Q JGJUDPOUBJOTPOMZ
    WBS Q  WJEFP Q  XCS Q  5FYU Q QISBTJOHDPOUFOU Q
     MJOL Q JGUIF
    JUFNQSPQ Q BUUSJCVUFJTQSFTFOU
    
    NBQ Q JGJUDPOUBJOTPOMZ QISBTJOH
    DPOUFOU Q
     NFUB Q JGUIF
    JUFNQSPQ Q BUUSJCVUFJTQSFTFOU

    &NCFEEFE BVEJP Q DBOWBT Q FNCFE Q JGSBNF Q JNH Q NBUI Q PCKFDU Q TWH Q WJEFP Q ǡ
    DPOUFOU Q
    *OUFSBDUJWF B Q  CVUUPO Q  EFUBJMT Q  FNCFE Q  JGSBNF Q  LFZHFO Q  MBCFM Q  TFMFDU Q  BVEJP Q JGUIF DPOUSPMT Q BUUSJCVUF
    DPOUFOU Q UFYUBSFB Q  JTQSFTFOU
     JNH Q JGUIF VTFNBQ Q
    BUUSJCVUFJTQSFTFOU
     JOQVU Q JGUIF
    UZQF Q BUUSJCVUFJT =>C JOUIF
    )JEEFO Q TUBUF
     NFOV Q JGUIF
    UZQF Q BUUSJCVUFJTJOUIF UPPMCBS Q
    TUBUF
     PCKFDU Q JGUIF VTFNBQ Q
    BUUSJCVUFJTQSFTFOU
     WJEFP Q JGUIF
    DPOUSPMT Q BUUSJCVUFJTQSFTFOU

    4FDUJPOJOH CMPDLRVPUF Q  CPEZ Q  EFUBJMT Q  GJFMETFU Q  GJHVSF Q  UE Q ǡ
    SPPUT Q
    'PSN CVUUPO Q  GJFMETFU Q  JOQVU Q  LFZHFO Q  MBCFM Q  NFUFS Q  PCKFDU Q  ǡ
    BTTPDJBUFE PVUQVU Q  QSPHSFTT Q  TFMFDU Q  UFYUBSFB Q
    FMFNFOUT Q
    -JTUFE CVUUPO Q  GJFMETFU Q  JOQVU Q  LFZHFO Q  PCKFDU Q  PVUQVU Q  TFMFDU Q  ǡ
    FMFNFOUT Q UFYUBSFB Q
    -BCFMBCMF CVUUPO Q  JOQVU Q  LFZHFO Q  NFUFS Q  PVUQVU Q  QSPHSFTT Q  TFMFDU Q  ǡ
    FMFNFOUT Q UFYUBSFB Q
    4VCNJUUBCMF CVUUPO Q  JOQVU Q  LFZHFO Q  PCKFDU Q  TFMFDU Q  UFYUBSFB Q ǡ
    FMFNFOUT Q
    3FTFUUBCMF JOQVU Q  LFZHFO Q  PVUQVU Q  TFMFDU Q  UFYUBSFB Q ǡ
    FMFNFOUT Q
    GPSNBU#MPDL TFDUJPO Q  OBW Q  BSUJDMF Q  BTJEF Q  I Q  I Q  I Q  I Q  I Q  I Q  ǡ
    DBOEJEBUFT Q IHSPVQ Q  IFBEFS Q  GPPUFS Q  BEESFTT Q  Q Q  QSF Q  CMPDLRVPUF Q  EJW Q

    NNLC<ON?M

    *78BB42C8>=8B=>==>A<0C8E4

    -JTUPGBUUSJCVUFT FYDMVEJOHFWFOUIBOEMFSDPOUFOUBUUSJCVUFT

    NNLC<ON? !F?G?HNM ?M=LCJNCIH 2;FO?


    Q
    <>>@KO JOQVU )JOUGPSFYQFDUFEИMFUZQFJO ИMF 4FUPGDPNNBTFQBSBUFEUPLFOT Q
    VQMPBEDPOUSPMT Q DPOTJTUJOHPG WBMJE.*.&UZQFTXJUIOP
    QBSBNFUFST Q PS BVEJP WJEFP PS
    JNBHF
    <>>@KO >C<MN@O GPSN Q $IBSBDUFSFODPEJOHTUPVTFGPS GPSN 0SEFSFETFUPGVOJRVFTQBDFTFQBSBUFE
    TVCNJTTJPO Q UPLFOT Q DPOTJTUJOHPG QSFGFSSFE.*.&

    
    NNLC<ON? !F?G?HNM ?M=LCJNCIH 2;FO?
    OBNFT Q PG "4$**DPNQBUJCMFDIBSBDUFS
    FODPEJOHT Q
    <>>@NNF@T )5.-FMFNFOUT Q ,FZCPBSETIPSUDVUUPBDUJWBUFPS 0SEFSFETFUPGVOJRVFTQBDFTFQBSBUFE
    GPDVTFMFNFOU UPLFOT Q DPOTJTUJOHPGPOF6OJDPEFDPEF
    QPJOUJOMFOHUI
    <>ODJI GPSN Q 63- Q UPVTFGPS GPSN 7BMJE63- Q
    TVCNJTTJPO Q
    <GO BSFB Q  JNH Q  JOQVU Q 3FQMBDFNFOUUFYUGPSVTFXIFO 5FYU
    JNBHFTBSFOPUBWBJMBCMF
    <NTI> TDSJQU Q &YFDVUFTDSJQUBTZODISPOPVTMZ #PPMFBOBUUSJCVUF Q
    Q Q
    <POJ>JHKG@O@ GPSN  JOQVU 1SFWFOUUIFVTFSBHFOUGSPN POPGG
    QSPWJEJOHBVUPDPNQMFUJPOTGPSUIF
    GPSNDPOUSPM T

    <POJAJ>PN CVUUPO Q  JOQVU Q  LFZHFO Q  "VUPNBUJDBMMZGPDVTUIFGPSNDPOUSPM #PPMFBOBUUSJCVUF Q
    TFMFDU Q  UFYUBSFB Q XIFOUIFQBHFJTMPBEFE
    <POJKG<T BVEJP Q  WJEFP Q )JOUUIBUUIF NFEJBSFTPVSDF Q DBO #PPMFBOBUUSJCVUF Q
    CFTUBSUFEBVUPNBUJDBMMZXIFOUIF
    QBHFJTMPBEFE
    >C<GG@IB@ LFZHFO Q 4USJOHUPQBDLBHFXJUIUIF 5FYU
    HFOFSBUFEBOETJHOFEQVCMJDLFZ
    >C<MN@O NFUB Q $IBSBDUFSFODPEJOHEFDMBSBUJPO Q 1SFGFSSFE.*.&OBNF Q PGBOFODPEJOH
    Q
    >C<MN@O TDSJQU $IBSBDUFSFODPEJOHPGUIFFYUFSOBM 1SFGFSSFE.*.&OBNF Q PGBOFODPEJOH
    TDSJQUSFTPVSDF
    >C@>F@? DPNNBOE Q  JOQVU Q 8IFUIFSUIFDPNNBOEPSDPOUSPMJT #PPMFBOBUUSJCVUF Q
    DIFDLFE
    >DO@ CMPDLRVPUF Q  EFM Q  JOT Q  R Q -JOLUPUIFTPVSDFPGUIFRVPUBUJPO 7BMJE63- Q
    PSNPSFJOGPSNBUJPOBCPVUUIFFEJU
    >G<NN )5.-FMFNFOUT Q $MBTTFTUPXIJDIUIFFMFNFOU 6OPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFE
    CFMPOHT UPLFOT Q
    >JGN UFYUBSFB Q .BYJNVNOVNCFSPGDIBSBDUFSTQFS 7BMJEOPOOFHBUJWFJOUFHFS Q HSFBUFSUIBO
    MJOF [FSP
    >JGNK<I UE Q  UI Q /VNCFSPGDPMVNOTUIBUUIFDFMMJTUP 7BMJEOPOOFHBUJWFJOUFHFS Q HSFBUFSUIBO
    TQBO [FSP
    >JIO@IO NFUB Q 7BMVFPGUIFFMFNFOU 5FYU
    >JIO@IO@?DO<=G@ )5.-FMFNFOUT Q 8IFUIFSUIFFMFNFOUJT FEJUBCMF Q USVFGBMTF
    >JIO@SOH@IP )5.-FMFNFOUT Q 5IFFMFNFOUTDPOUFYUNFOV *%
    Q Q
    >JIOMJGN BVEJP  WJEFP 4IPXVTFSBHFOUDPOUSPMT #PPMFBOBUUSJCVUF Q
    Q
    >JJM?N BSFB $PPSEJOBUFTGPSUIFTIBQFUPCF 7BMJEMJTUPGJOUFHFST Q
    DSFBUFEJOBO JNBHFNBQ Q
    ?<O< PCKFDU Q "EESFTTPGUIFSFTPVSDF 7BMJEOPOFNQUZ63- Q
    ?<O@ODH@ EFM Q  JOT Q 5JNFBOEEBUFPGUIFDIBOHF 7BMJEHMPCBMEBUFBOEUJNFTUSJOH Q
    Q
    ?<O@ODH@ UJNF 7BMVFPGUIFFMFNFOU 7BMJEEBUFPSUJNFTUSJOH Q
    Q
    ?@A@M TDSJQU %FGFSTDSJQUFYFDVUJPO #PPMFBOBUUSJCVUF Q
    Q Q
    ?DM )5.-FMFNFOUT 5IFUFYUEJSFDUJPOBMJUZ PGUIF MUSSUM
    FMFNFOU
    ?DN<=G@? CVUUPO Q  DPNNBOE Q  GJFMETFU Q  8IFUIFSUIFGPSNDPOUSPMJTEJTBCMFE #PPMFBOBUUSJCVUF Q
    JOQVU Q  LFZHFO Q  PQUHSPVQ Q 
    PQUJPO Q  TFMFDU Q  UFYUBSFB Q
    ?M<BB<=G@ )5.-FMFNFOUT Q 8IFUIFSUIFFMFNFOUJTESBHHBCMF USVFGBMTF
    @I>OTK@ GPSN Q 'PSNEBUBTFUFODPEJOHUZQFUPVTF BQQMJDBUJPOYXXXGPSN
    GPS GPSNTVCNJTTJPO Q VSMFODPEFE Q NVMUJQBSUGPSN
    EBUB Q UFYUQMBJO Q 
    AJM MBCFM Q "TTPDJBUFUIFMBCFMXJUIGPSNDPOUSPM *%
    AJM PVUQVU Q 4QFDJИFTDPOUSPMTGSPNXIJDIUIF 6OPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFE
    PVUQVUXBTDBMDVMBUFE UPLFOT Q DPOTJTUJOHPG*%T
    AJMH CVUUPO Q  GJFMETFU Q  JOQVU Q  "TTPDJBUFTUIFDPOUSPMXJUIB *%
    LFZHFO Q  MBCFM Q  NFUFS Q  GPSN Q FMFNFOU
    PCKFDU Q  PVUQVU Q  QSPHSFTT Q 
    TFMFDU Q  UFYUBSFB Q
    AJMH<>ODJI CVUUPO Q  JOQVU Q 63- Q UPVTFGPS GPSN 7BMJE63- Q
    TVCNJTTJPO Q
    AJMH@I>OTK@ CVUUPO Q  JOQVU Q 'PSNEBUBTFUFODPEJOHUZQFUPVTF BQQMJDBUJPOYXXXGPSN
    GPS GPSNTVCNJTTJPO Q VSMFODPEFE Q NVMUJQBSUGPSN
    EBUB Q UFYUQMBJO Q 

    
    NNLC<ON? !F?G?HNM ?M=LCJNCIH 2;FO?
    AJMHH@OCJ? CVUUPO Q  JOQVU Q )551NFUIPEUPVTFGPS GPSN (&51045165%&-&5&
    TVCNJTTJPO Q
    AJMHIJQ<GD?<O@ CVUUPO Q  JOQVU Q #ZQBTTGPSNDPOUSPMWBMJEBUJPOGPS #PPMFBOBUUSJCVUF Q
    GPSNTVCNJTTJPO Q
    AJMHO<MB@O CVUUPO Q  JOQVU Q #SPXTJOHDPOUFYU Q GPS GPSN 7BMJECSPXTJOHDPOUFYUOBNFPS
    TVCNJTTJPO Q LFZXPSE Q
    C@<?@MN UE Q  UI Q 5IFIFBEFSDFMMTGPSUIJTDFMM 6OPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFE
    UPLFOT Q DPOTJTUJOHPG*%T
    C@DBCO DBOWBT Q  FNCFE Q  JGSBNF Q  7FSUJDBMEJNFOTJPO 7BMJEOPOOFHBUJWFJOUFHFS Q
    JNH Q  JOQVU Q  PCKFDU Q  WJEFP Q
    CD??@I )5.-FMFNFOUT Q 8IFUIFSUIFFMFNFOUJTSFMFWBOU #PPMFBOBUUSJCVUF Q
    Q
    CDBC NFUFS -PXMJNJUPGIJHISBOHF 7BMJEЙPBUJOHQPJOUOVNCFS Q
    CM@A B Q  BSFB Q "EESFTTPGUIF IZQFSMJOL Q 7BMJE63- Q
    Q Q
    CM@A MJOL "EESFTTPGUIF IZQFSMJOL 7BMJEOPOFNQUZ63- Q
    Q Q
    CM@A CBTF %PDVNFOUCBTF63- 7BMJE63- Q
    Q Q Q
    CM@AG<IB B  BSFB  MJOL -BOHVBHFPGUIFMJOLFESFTPVSDF 7BMJE#$1MBOHVBHFDPEF
    COOK @LPDQ NFUB Q 1SBHNBEJSFDUJWF 5FYU
    D>JI DPNNBOE Q *DPOGPSUIFDPNNBOE 7BMJEOPOFNQUZ63- Q
    D? )5.-FMFNFOUT Q 5IFFMFNFOUT *% Q 5FYU
    DNH<K JNH Q 8IFUIFSUIFJNBHFJTBTFSWFSTJEF #PPMFBOBUUSJCVUF Q
    JNBHFNBQ
    DO@HD? )5.-FMFNFOUT Q (MPCBMJEFOUJИFS Q GPSBNJDSPEBUB 7BMJE63- Q
    JUFN
    DO@HKMJK )5.-FMFNFOUT Q 1SPQFSUZOBNFT Q PGBNJDSPEBUB 6OPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFE
    JUFN UPLFOT Q DPOTJTUJOHPG WBMJEBCTPMVUF
    63-T Q EFИOFEQSPQFSUZOBNFT Q PS
    UFYU
    DO@HM@A JUFNSFG Q 3FGFSFODFEFMFNFOUT 6OPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFE
    UPLFOT Q DPOTJTUJOHPG*%T
    DO@HN>JK@ )5.-FMFNFOUT Q *OUSPEVDFTBNJDSPEBUBJUFN #PPMFBOBUUSJCVUF Q
    Q Q
    DO@HOTK@ )5.-FMFNFOUT *UFNUZQF PGBNJDSPEBUBJUFN 7BMJEBCTPMVUF63- Q
    Q
    F@TOTK@ LFZHFO 5IFUZQFPGDSZQUPHSBQIJDLFZUP 5FYU
    HFOFSBUF
    G<=@G DPNNBOE Q  NFOV Q  PQUHSPVQ Q  6TFSWJTJCMFMBCFM 5FYU
    PQUJPO Q
    G<IB )5.-FMFNFOUT Q -BOHVBHF Q PGUIFFMFNFOU 7BMJE#$1MBOHVBHFDPEFPSUIFFNQUZ
    TUSJOH
    GDNO JOQVU Q -JTUPGBVUPDPNQMFUFPQUJPOT *%
    GJJK BVEJP Q  WJEFP Q 8IFUIFSUPMPPQUIF NFEJB #PPMFBOBUUSJCVUF Q
    SFTPVSDF Q
    GJR NFUFS Q )JHIMJNJUPGMPXSBOHF 7BMJEЙPBUJOHQPJOUOVNCFS Q
    Q Q
    H<IDA@NO IUNM "QQMJDBUJPODBDIFNBOJGFTU 7BMJEOPOFNQUZ63- Q
    Q
    H<S JOQVU .BYJNVNWBMVF WBSJFT
    H<S NFUFS Q  QSPHSFTT Q 6QQFSCPVOEPGSBOHF 7BMJEЙPBUJOHQPJOUOVNCFS Q
    H<SG@IBOC JOQVU Q  UFYUBSFB Q .BYJNVNMFOHUIPGWBMVF 7BMJEOPOOFHBUJWFJOUFHFS Q
    Q Q Q Q
    H@?D< B  BSFB  MJOL  TPVSDF  "QQMJDBCMFNFEJB 7BMJENFEJBRVFSZ Q
    TUZMF Q
    H@OCJ? GPSN Q )551NFUIPEUPVTFGPS GPSN (&51045165%&-&5&
    TVCNJTTJPO Q
    HDI JOQVU Q .JOJNVNWBMVF WBSJFT
    HDI NFUFS Q -PXFSCPVOEPGSBOHF 7BMJEЙPBUJOHQPJOUOVNCFS Q
    HPGODKG@ JOQVU Q  TFMFDU Q 8IFUIFSUPBMMPXNVMUJQMFWBMVFT #PPMFBOBUUSJCVUF Q
    Q Q Q
    I<H@ CVUUPO  GJFMETFU  JOQVU  /BNFPGGPSNDPOUSPMUPVTFGPS GPSN 5FYU
    LFZHFO Q  PVUQVU Q  TFMFDU Q  TVCNJTTJPO Q BOEJOUIF
    UFYUBSFB Q GPSNFMFNFOUT Q "1*
    I<H@ GPSN Q /BNFPGGPSNUPVTFJOUIF 5FYU
    EPDVNFOUGPSNT Q "1*
    I<H@ JGSBNF Q  PCKFDU Q /BNFPG OFTUFECSPXTJOHDPOUFYU Q 7BMJECSPXTJOHDPOUFYUOBNFPS
    LFZXPSE Q
    I<H@ NBQ Q /BNFPG JNBHFNBQ Q UPSFGFSFODF 5FYU
    GSPNUIF VTFNBQ Q BUUSJCVUF
    I<H@ NFUB Q .FUBEBUBOBNF 5FYU

    
    NNLC<ON? !F?G?HNM ?M=LCJNCIH 2;FO?
    I<H@ QBSBN Q /BNFPGQBSBNFUFS 5FYU
    IJQ<GD?<O@ GPSN Q #ZQBTTGPSNDPOUSPMWBMJEBUJPOGPS #PPMFBOBUUSJCVUF Q
    GPSNTVCNJTTJPO Q
    JK@I EFUBJMT Q 8IFUIFSUIFEFUBJMTBSFWJTJCMF #PPMFBOBUUSJCVUF Q
    Q
    JKODHPH NFUFS 0QUJNVNWBMVFJOHBVHF 7BMJEЙPBUJOHQPJOUOVNCFS Q
    Q
    K<OO@MI JOQVU 1BUUFSOUPCFNBUDIFECZUIFGPSN 3FHVMBSFYQSFTTJPONBUDIJOHUIF
    DPOUSPMTWBMVF +BWB4DSJQU &0CC4A= QSPEVDUJPO
    KDIB B Q  BSFB Q 63-T Q UPQJOH 4FUPGTQBDFTFQBSBUFEUPLFOT Q
    DPOTJTUJOHPG WBMJEOPOFNQUZ63-T Q
    KG<>@CJG?@M JOQVU Q  UFYUBSFB Q 6TFSWJTJCMFMBCFMUPCFQMBDFEXJUIJO 5FYU
    UIFGPSNDPOUSPM
    KJNO@M WJEFP Q 1PTUFSGSBNFUPTIPXQSJPSUPWJEFP 7BMJEOPOFNQUZ63- Q
    QMBZCBDL
    KM@GJ<? BVEJP Q  WJEFP Q )JOUTIPXNVDICVЗFSJOHUIF NFEJB OPOF Q NFUBEBUB Q BVUP Q 
    SFTPVSDF Q XJMMMJLFMZOFFE
    KP=?<O@ UJNF Q 8IFUIFSUIFFMFNFOUTWBMVF #PPMFBOBUUSJCVUF Q
    SFQSFTFOUTBQVCMJDBUJPOUJNFGPSUIF
    OFBSFTU BSUJDMF Q PS CPEZ Q
    M<?DJBMJPK DPNNBOE Q /BNFPGHSPVQPGDPNNBOETUPUSFBU 5FYU
    BTBSBEJPCVUUPOHSPVQ
    M@<?JIGT JOQVU Q  UFYUBSFB Q 8IFUIFSUPBMMPXUIFWBMVFUPCF #PPMFBOBUUSJCVUF Q
    FEJUFECZUIFVTFS
    M@G B Q  BSFB Q  MJOL Q 3FMBUJPOTIJQCFUXFFOUIFEPDVNFOU 4FUPGTQBDFTFQBSBUFEUPLFOT Q
    DPOUBJOJOHUIFIZQFSMJOLBOEUIF
    EFTUJOBUJPOSFTPVSDF
    M@LPDM@? JOQVU Q  UFYUBSFB Q 8IFUIFSUIFDPOUSPMJTSFRVJSFEGPS #PPMFBOBUUSJCVUF Q
    GPSNTVCNJTTJPO Q
    M@Q@MN@? PM Q /VNCFSUIFMJTUCBDLXBSET #PPMFBOBUUSJCVUF Q
    Q
    MJRN UFYUBSFB /VNCFSPGMJOFTUPTIPX 7BMJEOPOOFHBUJWFJOUFHFS Q HSFBUFSUIBO
    [FSP
    MJRNK<I UE Q  UI Q /VNCFSPGSPXTUIBUUIFDFMMJTUP 7BMJEOPOOFHBUJWFJOUFHFS Q
    TQBO
    N<I?=JS JGSBNF Q 4FDVSJUZSVMFTGPSOFTUFEDPOUFOU 6OPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFE
    UPLFOT Q DPOTJTUJOHPGBMMPXTBNF
    PSJHJO Q  BMMPXGPSNT Q  BOE
    BMMPXTDSJQUT Q 
    NK@GG>C@>F )5.-FMFNFOUT Q 8IFUIFSUIFFMFNFOUJTUPIBWFJUT USVFGBMTF
    TQFMMJOHBOEHSBNNBSDIFDLFE
    N>JK@ UI Q 4QFDJИFTXIJDIDFMMTUIFIFBEFSDFMM SPX Q DPM Q SPXHSPVQ Q 
    BQQMJFTUP DPMHSPVQ Q 
    N>JK@? TUZMF Q 8IFUIFSUIFTUZMFTBQQMZUPUIF #PPMFBOBUUSJCVUF Q
    FOUJSFEPDVNFOUPSKVTUUIFQBSFOU
    TVCUSFF
    N@<HG@NN JGSBNF Q 8IFUIFSUPBQQMZUIFEPDVNFOUT #PPMFBOBUUSJCVUF Q
    TUZMFTUPUIFOFTUFEDPOUFOU
    N@G@>O@? PQUJPO Q 8IFUIFSUIFPQUJPOJTTFMFDUFECZ #PPMFBOBUUSJCVUF Q
    EFGBVMU
    NC<K@ BSFB Q 5IFLJOEPGTIBQFUPCFDSFBUFEJO DJSDMF Q EFGBVMU Q QPMZ Q 
    BO JNBHFNBQ Q SFDU Q 
    NDU@ JOQVU Q  TFMFDU Q 4J[FPGUIFDPOUSPM 7BMJEOPOOFHBUJWFJOUFHFS Q HSFBUFSUIBO
    [FSP
    NDU@N MJOL Q 4J[FTPGUIFJDPOT GPS 6OPSEFSFETFUPGVOJRVFTQBDFTFQBSBUFE
    SFM Q JDPO Q 
    UPLFOT Q DPOTJTUJOHPGTJ[FT
    NK<I DPM Q  DPMHSPVQ Q /VNCFSPGDPMVNOTTQBOOFECZUIF 7BMJEOPOOFHBUJWFJOUFHFS Q HSFBUFSUIBO
    FMFNFOU [FSP
    NM> BVEJP Q  FNCFE Q  JGSBNF Q  JNH Q  "EESFTTPGUIFSFTPVSDF 7BMJEOPOFNQUZ63- Q
    JOQVU Q  TDSJQU Q  TPVSDF Q 
    WJEFP Q
    NM>?J> JGSBNF Q "EPDVNFOUUPSFOEFSJOUIF 5IFTPVSDFPG BO JGSBNF TSDEPD
    JGSBNF Q EPDVNFOU Q
    NO<MO PM Q 0SEJOBMWBMVFPGUIFИSTUJUFN 7BMJEJOUFHFS Q
    Q
    NO@K JOQVU (SBOVMBSJUZUPCFNBUDIFECZUIF 7BMJEЙPBUJOHQPJOUOVNCFS Q HSFBUFS
    GPSNDPOUSPMTWBMVF UIBO[FSP PSBOZ
    NOTG@ )5.-FMFNFOUT Q 1SFTFOUBUJPOBMBOEGPSNBUUJOH $44EFDMBSBUJPOT
    JOTUSVDUJPOT

    
    NNLC<ON? !F?G?HNM ?M=LCJNCIH 2;FO?
    NPHH<MT UBCMF Q &YQMBOBUPSZUFYUGPSDPNQMFYUBCMFT 5FYU
    GPSVTFSTPGTDSFFOSFBEFST
    O<=DI?@S )5.-FMFNFOUT Q 8IFUIFSUIFFMFNFOUJTGPDVTBCMF 7BMJEJOUFHFS Q
    BOEUIFSFMBUJWFPSEFSPGUIFFMFNFOU
    GPSUIFQVSQPTFTPGTFRVFOUJBMGPDVT
    OBWJHBUJPO
    O<MB@O B Q  BSFB Q #SPXTJOHDPOUFYU Q GPS 7BMJECSPXTJOHDPOUFYUOBNFPS
    IZQFSMJOL Q OBWJHBUJPO Q LFZXPSE Q
    O<MB@O CBTF Q %FGBVMU CSPXTJOHDPOUFYU Q GPS 7BMJECSPXTJOHDPOUFYUOBNFPS
    Q
    IZQFSMJOL Q OBWJHBUJPO Q BOE GPSN LFZXPSE
    TVCNJTTJPO Q
    O<MB@O GPSN Q #SPXTJOHDPOUFYU Q GPS GPSN 7BMJECSPXTJOHDPOUFYUOBNFPS
    TVCNJTTJPO Q LFZXPSE Q
    ODOG@ )5.-FMFNFOUT Q "EWJTPSZJOGPSNBUJPOGPSUIFFMFNFOU 5FYU
    ODOG@ BCCS Q  EGO Q 'VMMUFSNPSFYQBOTJPOPG 5FYU
    BCCSFWJBUJPO
    ODOG@ DPNNBOE Q )JOUEFTDSJCJOHUIFDPNNBOE 5FYU
    ODOG@ MJOL Q 5JUMFPGUIFMJOL 5FYU
    ODOG@ MJOL Q  TUZMF Q "MUFSOBUJWFTUZMFTIFFUTFUOBNF 5FYU
    OTK@ B Q  BSFB Q  MJOL Q )JOUGPSUIFUZQFPGUIFSFGFSFODFE 7BMJE.*.&UZQF Q
    SFTPVSDF
    OTK@ CVUUPO Q 5ZQFPGCVUUPO TVCNJU Q SFTFU Q CVUUPO Q 
    Q Q
    OTK@ CVUUPO  JOQVU 5ZQFPGGPSNDPOUSPM JOQVU UZQFLFZXPSE Q
    OTK@ DPNNBOE Q 5ZQFPGDPNNBOE DPNNBOE Q DIFDLCPY Q SBEJP Q 
    Q Q Q
    OTK@ FNCFE  PCKFDU  TDSJQU  5ZQFPGFNCFEEFESFTPVSDF 7BMJE.*.&UZQF Q
    TPVSDF Q  TUZMF Q
    OTK@ NFOV Q 5ZQFPGNFOV DPOUFYU Q UPPMCBS Q 
    Q Q Q
    PN@H<K JNH  PCKFDU /BNFPG JNBHFNBQ UPVTF 7BMJEIBTIOBNFSFGFSFODF Q
    Q<GP@ CVUUPO Q  PQUJPO Q 7BMVFUPCFVTFEGPS GPSN 5FYU
    TVCNJTTJPO Q
    Q<GP@ JOQVU Q 7BMVFPGUIFGPSNDPOUSPM WBSJFT
    Q<GP@ MJ Q 0SEJOBMWBMVFPGUIFMJTUJUFN 7BMJEJOUFHFS Q
    Q Q
    Q<GP@ NFUFS  QSPHSFTT $VSSFOUWBMVFPGUIFFMFNFOU 7BMJEЙPBUJOHQPJOUOVNCFS Q
    Q
    Q<GP@ QBSBN 7BMVFPGQBSBNFUFS 5FYU
    RD?OC DBOWBT Q  FNCFE Q  JGSBNF Q  )PSJ[POUBMEJNFOTJPO 7BMJEOPOOFHBUJWFJOUFHFS Q
    JNH Q  JOQVU Q  PCKFDU Q  WJEFP Q
    RM<K UFYUBSFB Q )PXUIFWBMVFPGUIFGPSNDPOUSPMJT TPGU Q IBSE Q 
    UPCFXSBQQFEGPS GPSN
    TVCNJTTJPO Q

    "OBTUFSJTL
    JOBDFMMJOEJDBUFTUIBUUIFBDUVBMSVMFTBSFNPSFDPNQMJDBUFEUIBOJOEJDBUFEJOUIFUBCMFBCPWF

    -JTUPGFWFOUIBOEMFSDPOUFOUBUUSJCVUFT
    NNLC<ON? !F?G?HNM ?M=LCJNCIH 2;FO?

    JI<=JMO )5.- BCPSU FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU


    FMFNFOUT Q BUUSJCVUF Q
    JI<AO@MKMDIO CPEZ Q BGUFSQSJOU FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JI=@AJM@KMDIO CPEZ Q CFGPSFQSJOU FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JI=@AJM@PIGJ<? CPEZ Q CFGPSFVOMPBE FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JI=GPM CPEZ Q CMVS FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JI=GPM )5.- CMVS FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI><IKG<T )5.- DBOQMBZ Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI><IKG<TOCMJPBC )5.- DBOQMBZUISPVHI Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI>C<IB@ )5.- DIBOHF FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q

    
    NNLC<ON? !F?G?HNM ?M=LCJNCIH 2;FO?
    JI>GD>F )5.- DMJDL Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI>JIO@SOH@IP )5.- DPOUFYUNFOV FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI?=G>GD>F )5.- ECMDMJDL FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI?M<B )5.- ESBH Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI?M<B@I? )5.- ESBHFOE Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI?M<B@IO@M )5.- ESBHFOUFS Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI?M<BG@<Q@ )5.- ESBHMFBWF Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI?M<BJQ@M )5.- ESBHPWFS Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI?M<BNO<MO )5.- ESBHTUBSU Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI?MJK )5.- ESPQ Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI?PM<ODJI>C<IB@ )5.- EVSBUJPODIBOHF Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI@HKOD@? )5.- FNQUJFE Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI@I?@? )5.- FOEFE Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JI@MMJM CPEZ Q FSSPS FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU BOEIBOEMFSGPS TDSJQUFSSPS &WFOUIBOEMFSDPOUFOU
    OPUJИDBUJPOT Q BUUSJCVUF Q
    JI@MMJM )5.- FSSPS FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIAJ>PN CPEZ Q GPDVT FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIAJ>PN )5.- GPDVT FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIAJMH>C<IB@ )5.- GPSNDIBOHF FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIAJMHDIKPO )5.- GPSNJOQVU FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIC<NC>C<IB@ CPEZ Q IBTIDIBOHF Q FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIDIKPO )5.- JOQVU FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIDIQ<GD? )5.- JOWBMJE FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIF@T?JRI )5.- LFZEPXO FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIF@TKM@NN )5.- LFZQSFTT FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIF@TPK )5.- LFZVQ FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIGJ<? CPEZ Q MPBE FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIGJ<? )5.- MPBE FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIGJ<?@??<O< )5.- MPBEFEEBUB Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIGJ<?@?H@O<?<O< )5.- MPBEFENFUBEBUB Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIGJ<?NO<MO )5.- MPBETUBSU Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIH@NN<B@ CPEZ Q NFTTBHF Q FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIHJPN@?JRI )5.- NPVTFEPXO FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q

    
    NNLC<ON? !F?G?HNM ?M=LCJNCIH 2;FO?
    JIHJPN@HJQ@ )5.- NPVTFNPWF FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIHJPN@JPO )5.- NPVTFPVU FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIHJPN@JQ@M )5.- NPVTFPWFS FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIHJPN@PK )5.- NPVTFVQ FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIHJPN@RC@@G )5.- NPVTFXIFFM FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIJAAGDI@ CPEZ Q PGGMJOF Q FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIJIGDI@ CPEZ Q POMJOF Q FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIK<PN@ )5.- QBVTF Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIKG<T )5.- QMBZ Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIKG<TDIB )5.- QMBZJOH Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIK<B@CD?@ CPEZ Q QBHFIJEF Q FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIK<B@NCJR CPEZ Q QBHFTIPX Q FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIKJKNO<O@ CPEZ Q QPQTUBUF Q FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIKMJBM@NN )5.- QSPHSFTT Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIM<O@>C<IB@ )5.- SBUFDIBOHF Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIM@<?TNO<O@>C<IB@ )5.- SFBEZTUBUFDIBOHF FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIM@?J CPEZ Q SFEP Q FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIM@NDU@ CPEZ Q SFTJ[F FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIN>MJGG )5.- TDSPMM FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIN@@F@? )5.- TFFLFE Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIN@@FDIB )5.- TFFLJOH Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIN@G@>O )5.- TFMFDU FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JINCJR )5.- TIPX FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JINO<GG@? )5.- TUBMMFE Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JINOJM<B@ CPEZ Q TUPSBHF FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JINP=HDO )5.- TVCNJU FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JINPNK@I? )5.- TVTQFOE Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIODH@PK?<O@ )5.- UJNFVQEBUF Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIPI?J CPEZ Q VOEP Q FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIPIGJ<? CPEZ Q VOMPBE FWFOUIBOEMFSGPS 8JOEPX Q PCKFDU &WFOUIBOEMFSDPOUFOU
    BUUSJCVUF Q
    JIQJGPH@>C<IB@ )5.- WPMVNFDIBOHF Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q
    JIR<DODIB )5.- XBJUJOH Q FWFOUIBOEMFS &WFOUIBOEMFSDPOUFOU
    FMFNFOUT Q BUUSJCVUF Q

    
    %HN?L@;=?M

    *78BB42C8>=8B=>==>A<0C8E4

    -JTUPGJOUFSGBDFTGPSFMFNFOUT
    !F?G?HNM %HN?L@;=?M
    Q Q
    B )5.-"ODIPS&MFNFOU  )5.-&MFNFOU Q
    Q Q
    BCCS )5.-&MFNFOU
    BEESFTT Q )5.-&MFNFOU Q
    Q
    BSFB )5.-"SFB&MFNFOU Q  )5.-&MFNFOU Q
    Q
    BSUJDMF )5.-&MFNFOU Q
    Q
    BTJEF )5.-&MFNFOU Q
    BVEJP Q )5.-"VEJP&MFNFOU Q  )5.-.FEJB&MFNFOU Q  )5.-&MFNFOU Q
    Q
    C )5.-&MFNFOU Q
    Q
    CBTF )5.-#BTF&MFNFOU Q  )5.-&MFNFOU Q
    Q
    CEP )5.-&MFNFOU Q
    Q
    CMPDLRVPUF )5.-2VPUF&MFNFOU Q  )5.-&MFNFOU Q
    Q
    CPEZ )5.-#PEZ&MFNFOU Q  )5.-&MFNFOU Q
    CS Q )5.-#3&MFNFOU Q  )5.-&MFNFOU Q
    CVUUPO Q )5.-#VUUPO&MFNFOU Q  )5.-&MFNFOU Q
    Q
    DBOWBT )5.-$BOWBT&MFNFOU Q  )5.-&MFNFOU Q
    Q
    DBQUJPO )5.-5BCMF$BQUJPO&MFNFOU Q  )5.-&MFNFOU Q
    Q
    DJUF )5.-&MFNFOU Q
    Q
    DPEF )5.-&MFNFOU Q
    Q
    DPM )5.-5BCMF4FDUJPO&MFNFOU Q  )5.-&MFNFOU Q
    DPMHSPVQ Q )5.-5BCMF$PM&MFNFOU Q  )5.-&MFNFOU Q
    Q
    DPNNBOE )5.-$PNNBOE&MFNFOU Q  )5.-&MFNFOU Q
    Q
    EBUBMJTU )5.-%BUB-JTU&MFNFOU Q  )5.-&MFNFOU Q
    Q
    EE )5.-&MFNFOU Q
    Q
    EFM )5.-.PE&MFNFOU Q  )5.-&MFNFOU Q
    Q
    EFUBJMT )5.-%FUBJMT&MFNFOU Q  )5.-&MFNFOU Q
    Q
    EJW )5.-%JW&MFNFOU Q  )5.-&MFNFOU Q
    EM Q )5.-%-JTU&MFNFOU Q  )5.-&MFNFOU Q
    Q
    EU )5.-&MFNFOU Q
    Q
    FN )5.-&MFNFOU Q
    Q
    FNCFE )5.-&NCFE&MFNFOU Q  )5.-&MFNFOU Q
    Q
    GJFMETFU )5.-'JFME4FU&MFNFOU Q  )5.-&MFNFOU Q
    Q
    GJHDBQUJPO )5.-&MFNFOU Q
    GJHVSF Q )5.-&MFNFOU Q
    GPPUFS Q )5.-&MFNFOU Q
    Q
    GPSN )5.-'PSN&MFNFOU Q  )5.-&MFNFOU Q
    Q
    IFBE )5.-)FBE&MFNFOU Q  )5.-&MFNFOU Q
    Q
    I )5.-)FBEJOH&MFNFOU Q  )5.-&MFNFOU Q
    Q
    I )5.-)FBEJOH&MFNFOU Q  )5.-&MFNFOU Q
    Q
    I )5.-)FBEJOH&MFNFOU Q  )5.-&MFNFOU Q
    I Q )5.-)FBEJOH&MFNFOU Q  )5.-&MFNFOU Q
    Q
    I )5.-)FBEJOH&MFNFOU Q  )5.-&MFNFOU Q
    Q
    I )5.-)FBEJOH&MFNFOU Q  )5.-&MFNFOU Q
    Q
    IFBEFS )5.-&MFNFOU Q
    Q
    IHSPVQ )5.-&MFNFOU Q
    Q
    IS )5.-)3&MFNFOU Q  )5.-&MFNFOU Q
    Q
    IUNM )5.-)UNM&MFNFOU Q  )5.-&MFNFOU Q
    J Q )5.-&MFNFOU Q
    Q
    JGSBNF )5.-*'SBNF&MFNFOU Q  )5.-&MFNFOU Q
    Q
    JNH )5.-*NBHF&MFNFOU Q  )5.-&MFNFOU Q
    Q
    JOQVU )5.-*OQVU&MFNFOU Q  )5.-&MFNFOU Q
    Q
    JOT )5.-.PE&MFNFOU Q  )5.-&MFNFOU Q
    Q
    LCE )5.-&MFNFOU Q

    
    !F?G?HNM %HN?L@;=?M
    LFZHFO Q )5.-,FZHFO&MFNFOU Q  )5.-&MFNFOU Q
    MBCFM Q )5.--BCFM&MFNFOU Q  )5.-&MFNFOU Q
    Q
    MFHFOE )5.--FHFOE&MFNFOU Q  )5.-&MFNFOU Q
    MJ Q )5.--*&MFNFOU Q  )5.-&MFNFOU Q
    Q
    MJOL )5.--JOL&MFNFOU Q  )5.-&MFNFOU Q
    Q
    NBQ )5.-.BQ&MFNFOU Q  )5.-&MFNFOU Q
    Q
    NBSL )5.-&MFNFOU Q
    Q
    NFUFS )5.-.FUFS&MFNFOU Q  )5.-&MFNFOU Q
    Q
    OBW )5.-&MFNFOU Q
    Q
    OPTDSJQU )5.-&MFNFOU Q
    PCKFDU Q )5.-0CKFDU&MFNFOU Q  )5.-&MFNFOU Q
    Q
    PM )5.-0-JTU&MFNFOU Q  )5.-&MFNFOU Q
    Q
    PQUHSPVQ )5.-0QU(SPVQ&MFNFOU Q  )5.-&MFNFOU Q
    Q
    PQUJPO )5.-0QUJPO&MFNFOU Q  )5.-&MFNFOU Q
    Q
    PVUQVU )5.-0VUQVU&MFNFOU Q  )5.-&MFNFOU Q
    Q
    Q )5.-1BSBHSBQI&MFNFOU Q  )5.-&MFNFOU Q
    QBSBN Q )5.-1BSBN&MFNFOU Q  )5.-&MFNFOU Q
    QSF Q )5.-1SF&MFNFOU Q  )5.-&MFNFOU Q
    Q
    QSPHSFTT )5.-1SPHSFTT&MFNFOU Q  )5.-&MFNFOU Q
    Q
    R )5.-&MFNFOU Q
    Q
    SQ )5.-&MFNFOU Q
    Q
    SU )5.-&MFNFOU Q
    Q
    SVCZ )5.-&MFNFOU Q
    TBNQ Q )5.-&MFNFOU Q
    Q
    TFDUJPO )5.-&MFNFOU Q
    Q
    TFMFDU )5.-4FMFDU&MFNFOU Q  )5.-&MFNFOU Q
    Q
    TNBMM )5.-&MFNFOU Q
    Q
    TPVSDF )5.-4PVSDF&MFNFOU Q  )5.-&MFNFOU Q
    Q
    TQBO )5.-4QBO&MFNFOU Q  )5.-&MFNFOU Q
    Q
    TUSPOH )5.-&MFNFOU Q
    TUZMF Q )5.-4UZMF&MFNFOU Q  )5.-&MFNFOU Q
    Q
    TVC )5.-&MFNFOU Q
    Q
    TVNNBSZ )5.-&MFNFOU Q
    Q
    TVQ )5.-&MFNFOU Q
    Q
    UBCMF )5.-5BCMF&MFNFOU Q  )5.-&MFNFOU Q
    Q
    UE )5.-5BCMF%BUB$FMM&MFNFOU Q  )5.-5BCMF$FMM&MFNFOU Q  )5.-&MFNFOU Q
    UFYUBSFB Q )5.-5FYU"SFB&MFNFOU Q  )5.-&MFNFOU Q
    UI Q )5.-5BCMF)FBEFS$FMM&MFNFOU Q  )5.-5BCMF$FMM&MFNFOU Q  )5.-&MFNFOU Q
    Q
    UIFBE )5.-5BCMF3PX&MFNFOU Q  )5.-&MFNFOU Q
    Q
    UJNF )5.-5JNF&MFNFOU Q  )5.-&MFNFOU Q
    Q
    UJUMF )5.-5JUMF&MFNFOU Q  )5.-&MFNFOU Q
    Q
    VM )5.-6-JTU&MFNFOU Q  )5.-&MFNFOU Q
    Q
    WBS )5.-&MFNFOU Q
    WJEFP Q )5.-7JEFP&MFNFOU Q  )5.-.FEJB&MFNFOU Q  )5.-&MFNFOU Q
    Q
    XCS )5.-&MFNFOU Q

    !P?HNM

    *78BB42C8>=8B=>==>A<0C8E4

    -JTUPGFWFOUT
    !P?HN %HN?L@;=? ?M=LCJNCIH
    Q Q
    %0."DUJWBUF &WFOU 'JSFEBUBOFMFNFOUCFGPSFJUT BDUJWBUJPOCFIBWJPS Q JTSVO
    Q
    %0.$POUFOU-PBEFE &WFOU 'JSFEBUUIF %PDVNFOU Q PODFJUBOEJUTTDSJQUTIBWFMPBEFE XJUIPVUXBJUJOHGPSPUIFS
    TVCSFTPVSDFT
    BCPSU &WFOU Q 'JSFEBUUIF 8JOEPX Q XIFOUIFEPXOMPBEXBTBCPSUFECZUIFVTFS

    
    !P?HN %HN?L@;=? ?M=LCJNCIH
    BGUFSQSJOU &WFOU Q 'JSFEBUUIF 8JOEPX Q BGUFSQSJOUJOH
    CFGPSFQSJOU &WFOU Q 'JSFEBUUIF 8JOEPX Q CFGPSFQSJOUJOH
    Q
    CFGPSFVOMPBE #FGPSF6OMPBE&WFOU 'JSFEBUUIF 8JOEPX Q XIFOUIFQBHFJTBCPVUUPCFVOMPBEFE JODBTFUIFQBHFXPVMEMJLFUP
    TIPXBXBSOJOHQSPNQU
    CMVS &WFOU Q 'JSFEBUOPEFTMPTJOHGPDVT
    DIBOHF &WFOU Q 'JSFEBUDPOUSPMTXIFOUIFVTFSDPNNJUTBWBMVFDIBOHF
    DPOUFYUNFOV &WFOU Q 'JSFEBUFMFNFOUTXIFOUIFVTFSSFRVFTUTUIFJSDPOUFYUNFOV
    FSSPS &WFOU Q 'JSFEBUFMFNFOUTXIFOOFUXPSLBOETDSJQUFSSPSTPDDVS
    GPDVT &WFOU Q 'JSFEBUOPEFTHBJOJOHGPDVT
    GPSNDIBOHF &WFOU Q 'JSFEBUGPSNDPOUSPMTXIFOUIFVTFSDPNNJUTBWBMVFDIBOHFUPBDPOUSPMPOUIFGPSN
    Q
    GPSNJOQVU &WFOU 'JSFEBUGPSNDPOUSPMTXIFOUIFVTFSDIBOHFTUIFWBMVFPGBDPOUSPMPOUIFGPSN
    Q Q
    IBTIDIBOHF )BTI$IBOHF&WFOU 'JSFEBUUIF 8JOEPX Q XIFOUIFGSBHNFOUJEFOUJИFSQBSUPG UIFEPDVNFOUTDVSSFOUBEESFTT Q
    DIBOHFT
    JOQVU &WFOU Q 'JSFEBUDPOUSPMTXIFOUIFVTFSDIBOHFTUIFWBMVF
    JOWBMJE &WFOU Q 'JSFEBUDPOUSPMTEVSJOHGPSNWBMJEBUJPOJGUIFZEPOPUTBUJTGZUIFJSDPOTUSBJOUT
    MPBE &WFOU Q 'JSFEBUUIF 8JOEPX Q XIFOUIFEPDVNFOUIBTИOJTIFEMPBEJOHИSFEBUBOFMFNFOU
    DPOUBJOJOHBSFTPVSDF FH JNH Q FNCFE Q
    XIFOJUTSFTPVSDFIBTИOJTIFEMPBEJOH
    NFTTBHF Q .FTTBHF&WFOU Q 'JSFEBUBOPCKFDUXIFOUIFPCKFDUSFDFJWFTBNFTTBHF
    Q
    PGGMJOF &WFOU Q 'JSFEBUUIF 8JOEPX Q XIFOUIFOFUXPSLDPOOFDUJPOTGBJMT
    Q Q
    POMJOF &WFOU 'JSFEBUUIF 8JOEPX Q XIFOUIFOFUXPSLDPOOFDUJPOTSFUVSOT
    QBHFIJEF Q 1BHF5SBOTJUJPO&WFOU Q 'JSFEBUUIF 8JOEPX Q XIFOUIFQBHFTFOUSZJOUIF TFTTJPOIJTUPSZ Q TUPQTCFJOHUIF DVSSFOU
    FOUSZ Q
    QBHFTIPX Q 1BHF5SBOTJUJPO&WFOU Q 'JSFEBUUIF 8JOEPX Q XIFOUIFQBHFTFOUSZJOUIF TFTTJPOIJTUPSZ Q CFDPNFTUIF DVSSFOU
    FOUSZ Q
    QPQTUBUF Q 1PQ4UBUF&WFOU Q 'JSFEBUUIF 8JOEPX Q XIFOUIFVTFSOBWJHBUFTUIF TFTTJPOIJTUPSZ Q
    SFBEZTUBUFDIBOHF &WFOU Q 'JSFEBUUIF %PDVNFOU Q XIFOJUИOJTIFTQBSTJOHBOEBHBJOXIFOBMMJUTTVCSFTPVSDFTIBWF
    ИOJTIFEMPBEJOH
    SFEP Q 6OEP.BOBHFS&WFOU Q 'JSFEBUUIF 8JOEPX Q PCKFDUXIFOUIFVTFS HPFTGPSXBSEJOUIFVOEPUSBOTBDUJPOIJTUPSZ Q
    Q
    SFTFU &WFOU 'JSFEBUB GPSN Q FMFNFOUXIFOJUJT SFTFU Q
    Q
    TIPX &WFOU 'JSFEBUB NFOV Q FMFNFOUXIFOJUJTTIPXOBTBDPOUFYUNFOV
    TVCNJU &WFOU Q 'JSFEBUB GPSN Q FMFNFOUXIFOJUJT TVCNJUUFE Q
    VOEP Q 6OEP.BOBHFS&WFOU Q 'JSFEBUUIF 8JOEPX Q PCKFDUXIFOUIFVTFS HPFTCBDLXBSEJOUIFVOEPUSBOTBDUJPOIJTUPSZ Q
    Q
    VOMPBE &WFOU 'JSFEBUUIF 8JOEPX Q PCKFDUXIFOUIFQBHFJTHPJOHBXBZ

    *HM> />>:ELH F>=B:>E>F>GM>O>GML I :IIEB<:MBHG<:<A>>O>GML I :G= =K:@


    :G=
    =KHI
    >O>GML I

    
    .?@?L?H=?M
    "MMSFGFSFODFTBSFOPSNBUJWFVOMFTTNBSLFE/POOPSNBUJWF

    7*"8
    D6<4=C43$5>A)H=C0G)?428P20C8>=B$ %$SPDLFS 10WFSFMM*&5'

    7+108
    *7401>DC+(B274<4 +)PMTUFO -)VOU*&5'

    7.%8
    224BB81;4(827=C4A=4C??;820C8>=B-( +$SBJH .$PPQFS -1BQQBT 34DIXFSEUGFHFS -4FFNBO
    8$

    7.%%),(8
    -( +B4A64=C<?;4<4=C0C8>=D834 "4OPX8FBWFS .$PPQFS8$

    70#8
    /POOPSNBUJWF
    DC7>A8=6*>>;224BB818;8CHD834;8=4B* +3JDIBSET +4QFMMNBO +5SFWJSBOVT8$

    70+)8
    /POOPSNBUJWF
    *74C><)H=3820C8>=>A<0C ./PUUJOHIBN 34BZSF*&5'

    7,8
    *06B5>A34=C85H8=6"0=6D064B#0C278=6>5"0=6D064*06B "1IJMMJQT .%BWJT*&5'

    7!//8
    470E8>A0;GC4=B8>=BC>)) *)JDLTPO8$

    7!6%!.8
    >DA14BK?>;4B 1EF$BTUFMKBV*/1* 

    7% %8
    +.+=82>34838A42C8>=0;;6>A8C7< .%BWJT6OJDPEF$POTPSUJVN

    7+18
    /POOPSNBUJWF
    +*$%+ ##><?0C81;4+=82>34><?A4BB8>= .4DIFSFS .%BWJT6OJDPEF
    $POTPSUJVN

    7!/18
    /POOPSNBUJWF
    +*( ><?0C818;8CH=2>38=6)274<4>A+* *)+ 51IJQQT6OJDPEF
    $POTPSUJVN

    7$.)+ 8
    /POOPSNBUJWF
    70A02C4A#>34;5>AC74->A;3-834-41 D=30<4=C0;B .%ºSTU ':FSHFBV 3*TIJEB .
    8PMG 55FYJO8$

    7+),10(!8
    /POOPSNBUJWF
    %=2><?DC01;4=D<14ABF8C70=0??;820C8>=C>C74=CB27483D=6B?A>1;4< "5VSJOH*O
    &A>24438=6B>5C74">=3>=#0C74<0C820;)>284CH TFSJFT WPMVNF QBHFT-POEPO.BUIFNBUJDBM
    4PDJFUZ 

    7++'%!/8
    **&)C0C4#0=064<4=C#4270=8B< "#BSUI*&5'

    7+./8
    A>BB%A868=(4B>DA24)70A8=6 "WBO,FTUFSFO8$

    7//8
    0B2038=6)CH;4)744CB"4E4; (4E8B8>= ##PT 5…FMJL *)JDLTPO )-JF8$

    7//00.8
    )))CH;8=6CCA81DC4)H=C0G &&UFNBE8$

    7//+(+.8
    ))>;>A#>3D;4"4E4; 5…FMJL $-JMMFZ -#BSPO8$

    7//"+*0/8
    ))>=CB#>3D;4"4E4; +%BHHFUU8$

    
    7//+)8
    0B2038=6)CH;4)744CB%1942C#>34;))%# "WBO,FTUFSFO8$

    7//1%8
    ))0B82+B4A=C4A5024#>3D;4 5…FMJL8$

    7 +)+.!8
    >2D<4=C%1942C#>34;%#"4E4;>A4)?428P20C8>= "-F)PST 1-F)FHBSFU -8PPE (/JDPM +3PCJF
    .$IBNQJPO 4#ZSOFT8$

    7 +)!2!*0/8
    >2D<4=C%1942C#>34;%#"4E4;E4=CB)?428P20C8>= %4DIFQFST8$

    7 +).*#!8
    >2D<4=C%1942C#>34;%#"4E4; *A0E4AB0;0=3(0=64)?428P20C8>= +,FTTFMNBO +3PCJF .$IBNQJPO 1
    4IBSQF 7"QQBSBP -8PPE8$

    7!8
    (42><<4=30C8>= N$D<14A8=6&;0=5>A*74=C4A=0C8>=0;*4;4?7>=4)4AE824 $$*55#MVF#PPL 'BTDJDMF
    ** QQ /PWFNCFS

    7!)8
    #)2A8?C"0=6D064)?428P20C8>=&$."

    7!)8
    /POOPSNBUJWF
    #)2A8?C5>A.#".)?428P20C8>=&$."

    7!1'.8
    0=6D;+=8G=E8A>=<4=C,PSFB*OEVTUSJBM4UBOEBSET"TTPDJBUJPO3FG/P,4$

    7!2!*0/+1.!8
    )4AE4A)4=CE4=CB *)JDLTPO8$

    7"%(!,%8
    8;4& "3BOHBOBUIBO8$

    7#'8
    78=4B4=C4A=0;>34)?428P20C8>=$IJOFTF*54UBOEBSEJ[BUJPO5FDIOJDBM$PNNJUUFF

    7#.,$%/8
    /POOPSNBUJWF
    ><?DC4AA0?782B&A8=28?;4B0=3&A02C8248= 4FDPOE&EJUJPO +'PMFZ "WBO%BN 4'FJOFS
    +)VHIFT"EEJTPO8FTMFZ*4#/

    7#.!#+.%*8
    /POOPSNBUJWF
    =C4AA0E8BB8<0B "-JMJVT $$MBWJVT(SFHPSZ9***1BQBM#VMMT 'FCSVBSZ

    7$0+)8
    /POOPSNBUJWF
    7C>< %+BOFT.JDSPGPSNBUT

    7$0)( %""8
    /POOPSNBUJWF
    *#"38O4A4=24B5A><*#" "WBO,FTUFSFO8$

    7$00,8
    H?4AC4GC*A0=B54A&A>C>2>;N**&
    3'JFMEJOH +(FUUZT +.PHVM )'SZTUZL -.BTJOUFS 1-FBDI 5
    #FSOFST-FF*&5'

    7%*$./!08
    70A02C4A)4CB*"/"

    7%*,!.)$! !./8
    &4A<0=4=C#4BB0644034A84;3$0<4B*"/"

    7%/+8
    )% 0C04;4<4=CB0=38=C4A270=645>A<0CBN=5>A<0C8>=8=C4A270=64N(4?A4B4=C0C8>=>530C4B0=3
    C8<4B*40

    7%/+8
    )% =5>A<0C8>=C427=>;>6HN18CB8=6;41HC42>3436A0?782270A02C4AB4CBN&0AC "0C8=
    *708
    0;?7014C*40

    
    7&/+*8
    *740??;820C8>=
    9B>=#4380*H?45>A 0E0)2A8?C%1942C$>C0C8>= )%$ %$SPDLGPSE*&5'

    7&/1.(8
    *7490E0B2A8?CA4B>DA24834=C8P4AB274<4 #)´ISNBOO*&5'

    7)%(0+8
    *74<08;C>+("B274<4 1)PЗNBO -.BTJOUFS +;BXJOTLJ*&5'

    7)0$)(8
    #0C74<0C820;#0A:D?"0=6D064#0C7#" %$BSMJTMF 1*PO 3.JOFS /1PQQFMJFS8$

    7)%)!/*%""8
    >=C4=C*H?4&A>24BB8=6#>34; "#BSUI *)JDLTPO*&5'

    7)-8
    #4380'D4A84B )-JF 5…FMJL %(MB[NBO "WBO,FTUFSFO8$

    7*,,%8
    /POOPSNBUJWF
    42:>&;D68=&(454A4=24.P[JMMB

    7+,!*/!.$8
    DC>38B2>E4AH8=*#"
    .*#"*O %?4=)40A27 A05C 4FDUJPO0QFO4FBSDIPSH

    7+.%#%*8
    *74**&%A868=4034A "#BSUI $+BDLTPO *)JDLTPO*&5'

    7,%*#'8
    &8=6102: 4-BOHSJEHF *)JDLTPO

    7,*#8
    &>AC01;4$4CF>A:A0?782B&$)?428P20C8>= %%VDF8$

    7,+.0!. 1""8
    ><?>B8C8=6868C0;<064B 51PSUFS 5%VЗ*O ><?DC4A6A0?782B WPMVNF OVNCFS QQ"$.
    1SFTT +VMZ

    7,,10"8
    /POOPSNBUJWF
    *74&A>?4AC84B0=3&A><8B4B>5+* .%ºSTU6OJWFSTJUZPG;ºSJDI*O &A>24438=6B>5C74 C7
    =C4A=0C8>=0;+=82>34>=54A4=24

    7,.+#.!//8
    &A>6A4BBE4=CB $.D$BUIJF/FWJMF8$

    7,/(8
    &D1;82)DRG"8BC.P[JMMB'PVOEBUJPO

    7."8
    ><08=$0<4B>=24?CB0=3028;8C84B 1.PDLBQFUSJT*&5' /PWFNCFS

    7."8
    70A02C4A#=4<>=82B0=370A02C4A)4CB ,4JNPOTFO*&5'

    7."8
    0?0=4B470A02C4A=2>38=65>A=C4A=4C#4BB064B +.VSBJ .$SJTQJO &WBOEFS1PFM*&5'

    7."8
    )%  & #D;C8;8=6D0;GC4=B8>=>5)%  & .0IUB ,)BOEB*&5'

    7."8
    !>A40=70A02C4A=2>38=65>A=C4A=4C#4BB064B 6$IPJ ,$IPO )1BSL*&5'

    7."8
    )&A8=C01;470A02C4AB0B4378=4B470A02C4A=2>38=65>A=C4A=4C#4BB064B :8FJ :;IBOH +-J +
    %JOH :+JBOH*&5'

    7."8
    78=4B470A02C4A=2>38=65>A=C4A=4C#4BB064B )';IV %:)V ;(8BOH 5$,BP 8$)$IBOH .$SJTQJO
    *&5'

    
    7."8
    #D;C8?DA?>B4=C4A=4C#08;GC4=B8>=B##&0AC%=4>A<0C>5=C4A=4C#4BB064>384B /'SFFE /
    #PSFOTUFJO*&5'

    7."8
    #D;C8?DA?>B4=C4A=4C#08;GC4=B8>=B##&0AC*F>#4380*H?4B /'SFFE /#PSFOTUFJO*&5'

    7."8
    !4HF>A3B5>ADB48=(BC>=3820C4(4@D8A4<4=C"4E4;B 4#SBEOFS*&5'

    7."8
    0?0=4B470A02C4A=2>38=65>A=C4A=4C#4BB064B ,5BNBSV*&5'

    7."8
    &!) ()=2AH?C8>= #,BMJTLJ*&5'

    7."8
    *74C4GC
    2BB#4380*H?4 )-JF ##PT $-JMMFZ*&5'

    7."8
    (4CDA=8=6,0;D4B5A><>A<B<D;C8?0AC
    5>A<30C0 -.BTJOUFS*&5'

    7."8
    ##>=C4=C*H?45>A8A42C>AH=5>A<0C8>= 5)PXFT .4NJUI '%BXTPO*&5'

    7."8
    E0A3##8A42C>AH&A>P;4 '%BXTPO 5)PXFT*&5'

    7."8
    =C4A=4C0;4=30A8=60=3)2743D;8=6>A4%1942C)?428P20C8>=80;4=30A '%BXTPO %4UFOFSTPO*&5'

    7."8
    +((4B>;DC8>=)4AE824B$424BB0AH5>A+($(4B>;DC8>= ..FBMMJOH 3%BOJFM*&5'

    7."8
    +* 0=4=2>38=6>5)%  1)PЗNBO ':FSHFBV*&5'

    7."8
    *74*4GC
    &;08=>A<0C&0A0<4C4A 3(FMMFOT*&5'

    7."8
    .#"#4380*H?4B ..VSBUB 44U-BVSFOU %,PIO*&5'

    7."8
    ;6>A8C7<B0=334=C8P4AB5>AC74=C4A=4C.  &D1;82!4H=5A0BCAD2CDA44AC8P20C40=34AC8P20C4(4E>20C8>=
    "8BC("&A>P;4 81PML 3)PVTMFZ -#BTTIBN*&5'

    7."8
    =C4A=0C8>=0;8I8=6><08=$0<4B8=??;820C8>=B$ 1'BMUTUSPN 1)PЗNBO "$PTUFMMP*&5'

    7."8
    *740B4 0B4 0=30B40C0=2>38=6B 4+PTFGTTPO*&5'

    7."8
    (468BCA0C8>=&A>243DA4B5>A#4BB0644034A84;3B (,MZOF ./PUUJOHIBN +.PHVM*&5'

    7."8
    +=85>A<(4B>DA2434=C8P4A+(4=4A82)H=C0G 5#FSOFST-FF 3'JFMEJOH -.BTJOUFS*&5'

    7."8
    =C4A=0C8>=0;8I43(4B>DA2434=C8P4AB(B .%ºSTU .4VJHOBSE*&5'

    7."8
    *74>342B&0A0<4C4A5>AD2:4C#4380*H?4B 3(FMMFOT %4JOHFS 1'SPKEI*&5'

    7."8
    /POOPSNBUJWF
    )2A8?C8=6#4380*H?4B #)´ISNBOO*&5'

    7."8
    E0A3GC4=B8>=B5>A=BC0=C#4BB068=6# $+FOOJOHT +3FTDILF*&5'

    
    7."8
    =C4A=4C.  &D1;82!4H=5A0BCAD2CDA44AC8P20C40=34AC8P20C4(4E>20C8>="8BC("&A>P;4 %$PPQFS 4
    4BOUFTTPO 4'BSSFMM 4#PFZFO 3)PVTMFZ 81PML*&5'

    7."8
    =C4A=4C#4BB064>A<0C 13FTOJDL*&5'

    7."8
    +()274<45>A;>10;)HBC4<5>A#>18;4><<D=820C8>=B)#)7>AC#4BB064)4AE824)#) &8JMEF "7BIB
    4JQJMB*&5'

    7//18
    /POOPSNBUJWF
    +*()C0=30A3><?A4BB8>=)274<4>A+=82>34 .8PMG ,8IJTUMFS $8JDLTUFFE .
    %BWJT "'SFZUBH .4DIFSFS6OJDPEF$POTPSUJVN

    7/!(!0+./8
    )4;42C>AB 5…FMJL &&UFNBE %(MB[NBO *)JDLTPO 1-JOTT +8JMMJBNT8$

    7/$%"0&%/8
    ). 18C0=318C3>D1;41HC42>343!$ B4CB5>A8=5>A<0C8>=8=C4A270=64+BQBOFTF4UBOEBSET
    "TTPDJBUJPO

    7/.#8
       #D;C8<4380BHBC4<B0=34@D8?<4=CN>;>DA<40BDA4<4=C0=3<0=064<4=CN&0AC  >;>DA
    <0=064<4=CN450D;C(2>;>DAB?024NB(*&$

    7/2#8
    )20;01;4,42C>AA0?782B),*8=H )?428P20C8>= 0"OEFSTTPO 3#FSKPO &%BIMTUS´N "&NNPOT +
    'FSSBJPMP "(SBTTP 7)BSEZ 4)BZNBO %+BDLTPO $-JMMFZ $.D$PSNBDL "/FVNBOO $/PSUIXBZ "
    2VJOU /3BNBOJ %4DIFQFST "4IFMMTIFBS8$

    70%/8
    +     5IBJ*OEVTUSJBM4UBOEBSET*OTUJUVUF .JOJTUSZPG*OEVTUSZ 3PZBM5IBJ(PWFSONFOU*4#/
    

    71#8
    /POOPSNBUJWF
    -41>=C4=C224BB818;8CHD834;8=4B+ +"MMBO ,'PSE +3JDIBSET +4QFMMNBO8$

    71*%+ !8
    *74+=82>34)C0=30A36OJDPEF$POTPSUJVN

    71*%2$. !08
    /POOPSNBUJWF
    2><?>B8C40??A>027C>;0=6D064
    4=2>38=634C42C8>= 4-J ,.PNPJ/FUTDBQF*O
    &A>24438=6B>5C74 C7=C4A=0C8>=0;+=82>34>=54A4=24

    710"8
    +*#08;)054*A0=B5>A<0C8>=>A<0C>5+=82>34 %(PMETNJUI .%BWJT*&5'

    710" !08
    /POOPSNBUJWF
    #D;C8;8=6D0;5>A<4=2>38=6 .%ºSTU8$

    710.8
    /POOPSNBUJWF
    +*(+=82>34)42DA8CH>=B834A0C8>=B .%BWJT .4VJHOBSE6OJDPEF$POTPSUJVN

    73#8
    /POOPSNBUJWF
    -41>=C4=C224BB818;8CHD834;8=4B- #$BMEXFMM .$PPQFS -3FJE (
    7BOEFSIFJEFO8$

    73!% (8
    -41" $.D$PSNBDL8$

    73!(%*'8
    -41"8=:8=6 ./PUUJOHIBN*&5'

    73!/+'!08
    *74-41)>2:4C& *)JDLTPO8$

    73!/-(8
    -41)'"0C010B4 *)JDLTPO8$

    
    73!/0+.#!8
    -41)C>A064 *)JDLTPO8$

    73!3+.'!./8
    -41->A:4AB *)JDLTPO8$

    73$03#3%'%8
    *74-*--8:88)"58(

    73%*8
    -8=3>FB  .JDSPTPGU

    73%*8
    -8=3>FB .JDSPTPGU

    73%*&8
    -8=3>FB>34?064 .JDSPTPGU

    73%*8
    -8=3>FB.JDSPTPGU

    73%*8
    -8=3>FB>34?064.JDSPTPGU

    748
    (42><<4=30C8>=. N=C4A=0C8>=0;$D<14A8=6&;0=5>A&D1;820C0$4CF>A:B $$*55#MVF#PPL 'BTDJDMF
    7*** QQ

    748
    (42><<4=30C8>=.  N=5>A<0C8>=*427=>;>6HN)$ =2>38=6(D;4BN)?428P20C8>=>50B82=2>38=6
    (D;4B(0=>=820;=2>38=6(D;4B(0=38BC8=6D8B743=2>38=6(D;4B(*OUFSOBUJPOBM
    5FMFDPNNVOJDBUJPO6OJPO

    74$.8
    ,,()-+, "WBO,FTUFSFO8$

    74)(8
    GC4=B81;4#0A:D?"0=6D064 5#SBZ +1BPMJ $4QFSCFSH.D2VFFO &.BMFS ':FSHFBV8$

    74)(/!8
    .#"0B4 +.BSTI 35PCJO8$

    74)(*/8
    $0<4B?024B8=.#" 5#SBZ %)PMMBOEFS "-BZNBO 35PCJO8$

    74,0$8
    .#"&0C7"0=6D064.&0C7,4AB8>= +$MBSL 4%F3PTF8$

    74/(08
    .)"*A0=B5>A<0C8>=B.)"*,4AB8>= +$MBSL8$

    
    =EHIQF?>A?G?HNM
    5IBOLTUP"BOLIFO "BSPO#PPENBO "BSPO-FWFOUIBM "EBN#BSUI "EBNEF#PPS "EBN)FQUPO "EBN3PCFO
    "EEJTPO1IJMMJQT "EFMF1FUFSTPO "ESJBO#BUFNBO "ESJBO4VUUPO "HVTU«O'FSOŸOEF[ "KBJ5JSVNBMJ "LBUTVLJ,JUBNVSB
    "MBO1MVN "MBTUBJS$BNQCFMM "MFY#JTIPQ "MFY/JDPMBPV "MFY3PVTTLPW "MFYBOEFS+7JODFOU "MFYFZ'FMEHFOEMFS
    ƌƷƱƶƽƱƵƛƼƺƽƶƿƼNjƶƺƮ "MFYFZ1SPTLVSZBLPW
    "MFYJT%FWFSJB "MMBO$MFNFOUT "NPT+FЗSJFT "OEFST$BSMTTPO "OESFBT
    "OESFJ1PQFTDV "OES§&7FMUTUSB "OESFX$MPWFS "OESFX(PWF "OESFX(SJFWF "OESFX0BLMFZ "OESFX4JEXFMM
    "OESFX4NJUI "OESFX8)BHFO "OESFZ7-VLZBOPW "OEZ)FZEPO "OEZ1BMBZ "OOFWBO,FTUFSFO "OUIPOZ#PZE
    "OUIPOZ#SZBO "OUIPOZ)JDLTPO "OUIPOZ3JDBVE "OUUJ,PJWJTUP "SPO4QPIS "SQIFO-JO "SZFI(SFHPS "TCK¶SO
    6MTCFSH "TIMFZ4IFSJEBO "UTVTIJ5BLBZBNB "VSFMJFO-FWZ "WF8SJHMFZ #FO#PZMF #FO(PEGSFZ #FO-FSOFS #FO
    -FTMJF #FO.FBEPXDSPGU #FO.JMMBSE #FOKBNJO$BSM8JMFZ4JUUMFS #FOKBNJO)BXLFT-FXJT #FSU#PT #JKBO1BSTJB #JM
    $PSSZ #JMM.BTPO #JMM.D$PZ #JMMZ8POH #KBSUVS5IPSMBDJVT #K´SO)´ISNBOO #MBLF'SBOU[ #PSJT;CBSTLZ #SBE'VMUT
    #SBE/FVCFSH #SBEZ&JETPO #SFOEBO&JDI #SFOUPO4JNQTPO #SFUU8JMTPO #SFUU;BNJS #SJBO$BNQCFMM #SJBO,PSWFS
    #SJBO,VIO #SJBO3ZOFS #SJBO4NJUI #SJBO8JMTPO #SZBO4VMMJWBO #SVDF%"SDVT #SVDF-BXTPO #SVDF.JMMFS $
    8JMMJBNT $BNFSPO.D$PSNBDL $BP:JQFOH $BSMPT(BCSJFM$BSEPOB $BSMPT1FSFMM±.BS«O $IBP$BJ  $IBOOZ
    :VO
    $IBSMWBO/JFLFSL $IBSMFT*MJZB,SFNQFBVY $IBSMFT.D$BUIJF/FWJMF $ISJT$SFTTNBO $ISJT&WBOT $ISJT.PSSJT
    $ISJT1FBSDF $ISJTUJBO#JFTJOHFS $ISJTUJBO+PIBOTFO $ISJTUJBO4DINJEU $ISJTUPQIFS"JMMPO $ISJTXB $PMF3PCJTPO
    $PMJO'JOF $PMMJO+BDLTPO $PSQSFX3FFE $SBJH$PDLCVSO $TBCB(BCPS $TBCB.BSUPO %BOJFM#BSDMBZ %BOJFM#SBUFMM
    %BOJFM#SPPLT %BOJFM#SVNCBVHI,FFOFZ %BOJFM$IFOH %BOJFM%BWJT %BOJFM(MB[NBO %BOJFM1FOH %BOJFM
    4DIBUUFOLJSDIOFS %BOJFM4Q£OH %BOJFM4UFJOCFSH %BOOZ4VMMJWBO %BSJO"EMFS %BSJO'JTIFS %BSYVT %BWF$BNQ %BWF
    )PEEFS %BWF-BNQUPO %BWF4JOHFS %BWF5PXOTFOE %BWJE#BSPO %BWJE#MPPN %BWJE#SVBOU %BWJE$BSMJTMF %BWJE
    &$MFBSZ %BWJE&HBO&WBOT %BWJE'MBOBHBO %BWJE(FSBSE %BWJE)£T¢UIFS %BWJE)ZBUU %BWJE*-FIO %BWJE.BUKB
    %BWJE3FNBIM %BWJE4NJUI %BWJE8PPMMFZ %F8JUU$MJOUPO %FBO&ESJEHF %FBO&EXBSET %FCJ0SUPO %FSFL
    'FBUIFSTUPOF %FWEBUUB %JNJUSJ(MB[LPW %JNJUSZ(PMVCPWTLZ %JWZB.BOJBO EPMQIJOMJOH %PNJOJRVF)B[B©M.BTTJFVY
    %PO#SVU[NBO %PSPO3PTFOCFSH %PVH,SBNFS %SFX8JMTPO &ENVOE-BJ &EVBSE1BTDVBM &EVBSEP7FMB &EXBSE
    0$POOPS &EXBSE8FMCPVSOF &EXBSE;:BOH &JSB.POTUBE &JUBO"EMFS &MJPU(SBЗ &MJ[BCFUI$BTUSP &MMJPUU4QSFIO
    &MMJPUUF)BSPME &SJD$BSMTPO &SJD-BX &SJD3FTDPSMB &SJL"SWJETTPO &WBO.BSUJO &WBO1SPESPNPV &WFSU GBOUBTBJ 'FMJY
    4BTBLJ 'SBODFTDP4DIXBS[ 'SBODJT#SPTOBO#MB[RVF[ 'SBODL4IJGU2V§MBJO 'SBOL#BSDIBSE   'VNJUPTIJ6LBJ

    'VUPNJ)BUBOP (BWJO$BSPUIFST (BSFUI3FFT (BSSFUU4NJUI (FPЗSFZ(BSFO (FPЗSFZ4OFEEPO (FPSHF-VOE
    (JBONBSDP"SNFMMJO (JPWBOOJ$BNQBHOB (SBIBN,MZOF (SFH#PUUFO (SFH)PVTUPO (SFH8JMLJOT (SFHH5BWBSFT
    (SFZ (ZUJT+BLVUPOJT )£LPO8JVN-JF )BMMWPSE3FJBS.JDIBFMTFO4UFFO )BOT45¶NNFSIBMU )FOSJ4JWPOFO )FOSJL
    -JFE )FOSZ.BTPO )VHI8JOLMFS *BO#JDLJOH *BO%BWJT *HOBDJP+BWJFS *WBO&OEFSMJO *WP&NBOVFM(PO¥BMWFT +,JOH
    +BDRVFT%JTUMFS +BNFT$SBJH +BNFT(SBIBN +BNFT+VTUJO)BSSFMM +BNFT.4OFMM +BNFT1FSSFUU +BNFT3PCJOTPO +BO
    ,MBBT,PMMIPG +BTPO,FSTFZ +BTPO-VTUJH +BTPO8IJUF +BTQFS#SZBOU(SFFOF +BUJOEFS.BOO +FE)BSUNBO +FЗ#BMPHI
    +FЗ$VUTJOHFS +FЗ4DIJMMFS +FЗ8BMEFO +FЗSFZ;FMENBO  +FOOJGFS#SBJUIXBJUF
    +FOT#BOONBOO +FOT'FOEMFS
    +FOT-JOETUS´N +FOT.FJFSU +FSFNZ,FJUI +FSFNZ0SMPX +FSPFOWBOEFS.FFS +JBO-J +JN+FXFUU +JN-FZ +JN.FFIBO
    +KHPE+JBOH +P¡P&JSBT +PF$MBSL +PF(SFHPSJP +PFM4QPMTLZ +PIBO)FSMBOE +PIO#PZFS +PIO#VTTKBFHFS +PIO
    $BSQFOUFS +PIO'BMMPXT +PIO'PMJPU +PIO)BSEJOH +PIO,FJTFS +PIO4OZEFST +PIO.BSL#FMM +PIOOZ4UFOCBDL +PO
    'FSSBJPMP +PO(JCCJOT +PO1FSMPX +POBT4JDLJOH +POBUIBO$PPL +POBUIBO3FFT +POBUIBO8PSFOU +POOZ"YFMTTPO
    +PSHFO)PSTUJOL +PSVOO%BOJFMTFO/FXUI +PTFQI,FTTFMNBO +PTFQI1FDPSBSP +PTI"BT +PTI-FWFOCFSH +PTIVB
    3BOEBMM +VLLB,,PSQFMB +VMFT$M§NFOU3JQPDIF +VMJBO3FTDILF +VTUJO-FCBS +VTUJO4JODMBJS ,BJ)FOESZ ,BSUJLBZB
    (VQUB ,BUIZ8BMUPO ,FMMZ/PSUPO ,FWJO#FOTPO ,PSO§M1ŸM ,PSOFM-FTJOTLJ ,SJTUPG;FMFDIPWTLJ   ,VSPTBXB
    5BLFTIJ
    ,ZMF)PGNBOO -§POBSE#PVDIFU -BDIMBO)VOU -BSSZ.BTJOUFS -BSSZ1BHF -BST(VOUIFS -BST4PMCFSH -BVSB
    (SBOLB -BVSB-$BSMTPO -BVSB8JTFXFMM -BVSFOT)PMTU -FF,PXBMLPXTLJ -FJG)BMWBSE4JMMJ -FOOZ%PNOJUTFS -FPOT
    1FUSB[JDLJT -PCPUPN%ZTNPO -PHBO -PVOF -VLF,FOOFUI$BTTPO-FJHIUPO .BDJFK4UBDIPXJBL .BHOVT,SJTUJBOTFO
    .BJL.FSUFO .BMDPMN3PXF .BSL#JSCFDL .BSL.JMMFS .BSL/PUUJOHIBN .BSL1JMHSJN .BSL3PXF .BSL4DIFOL .BSL
    8JMUPO+POFT .BSUJKO8BSHFST .BSUJO"ULJOT .BSUJO%ºSTU .BSUJO)POOFO .BSUJO,VUTDILFS .BSUJO5IPNTPO
    .BTBUBLB:BLVSB .BUIJFV)FOSJ .BUU4DINJEU .BUU8SJHIU .BUUIFX(SFHBO .BUUIFX.BTUSBDDJ .BUUIFX3BZNPOE
    .BUUIFX5IPNBT .BUUJBT8BMEBV .BY3PNBOUTDIVL .FOOPWBO4MPPUFO .JDBI%VCJOLP .JDIBFM3BUU*BOOBSFMMJ
    .JDIBFM"/BDICBVS .JDIBFM"1VMT** .JDIBFM$BSUFS .JDIBFM%BTLBMPW .JDIBFM&OSJHIU .JDIBFM(SBUUPO .JDIBFM
    /PSENBO .JDIBFM1PXFST .JDIBFM UN
    4NJUI .JDIBM;BMFXTLJ .JDIFM'PSUJO .JDIFMBOHFMP%F4JNPOF .JDIJFMWBOEFS
    #MPOL .JIBJĕVDBO .JLF#SPXO .JLF%JFSLFO .JLF%JYPO .JLF4DIJOLFM .JLF4IBWFS .JLLP3BOUBMBJOFO .PIBNFE
    ;FSHBPVJ .THFS /"364&:VJ /FJM%FBLJO /FJM3BTICSPPL /FJM4PJЗFS /JDIPMBT4IBOLT /JDIPMBT4UJNQTPO /JDIPMBT
    ;BLBT /JDPMBT(BMMBHIFS /PBI.FOEFMTPIO /PBI4MBUFS 0KBO7BGBJ 0MBG)PЗNBOO 0MBW+VOLFS,K¤S 0MEĐJDI
    7FUFĘO«L 0MJWFS)VOU 0MJWFS3JHCZ 0MJWJFS(FOESJO 0MMJ1FUUBZ 1BUSJDL)-BVLF 1BVM/PSNBO 1FS&SJL#SPEJO 1FSSZ
    4NJUI 1FUFS,BSMTTPO 1FUFS,BTUJOH 1FUFS4UBSL 1FUFS1BVM,PDI 1IJM1JDLFSJOH 1IJMJQ+¢HFOTUFEU 1IJMJQ5BZMPS 1IJMJQ
    5":-03 1SBUFFL3VOHUB 3BDIJE'JOHF 3BKBT.PPOLB 3BMG4UPMU[F 3BMQI(JMFT 3BQIBFM$IBNQFJNPOU 3FNDP 3FNZ
    4IBSQ 3FOF4BBSTPP 3FOF4UBDI 3JD)BSEBDSF 3JDI%PVHIUZ 3JDIBSE*TIJEB 3JHP8FOOJOH 3JLLFSU,PQQFT 3JNBOUBT
    -JVCFSUBT 3PC&OOBMT 3PC+FMMJOHIBVT 3PCFSU#MBVU 3PCFSU$PMMJOT 3PCFSU0$BMMBIBO 3PCFSU4BZSF 3PCJO#FSKPO
    3PMBOE4UFJOFS 3PNBO*WBOPW 3PZ'JFMEJOH 3ZBO,JOH 4.JLF%JFSLFO 4BN%VUUPO 4BN,VQFS 4BN3VCZ 4BN
    8FJOJH 4BOEFSWBO-BNCBMHFO 4BSWFO$BQBEJTMJ 4DPUU(PO[ŸMF[ 4DPUU)FTT 4FBO'SBTFS 4FBO)PHBO 4FBO,OBQQ
    4FCBTUJBO.BSLC£HF 4FCBTUJBO4DIOJU[FOCBVNFS 4FUI$BMM 4IBOUJ3BP 4IBVO*ONBO 4IJLJ0LBTBLB 4JFSL
    #PSOFNBOO 4JHCK¶SO7JL 4JMWJB1GFJЗFS 4JNPO.POUBHV 4JNPO1JFUFST 4JNPO4QJFHFM TLFXX 4UFGBO)BVTUFJO 4UFGBO
    4BOUFTTPO 4UFЗFO.FTDILBU 4UFQIFO.B 4UFWF'BVMLOFS 4UFWF3VOZPO 4UFWFO#FOOFUU 4UFWFO(BSSJUZ 4UFWFO5BUF

    
    4UFXBSU#SPEJF 4UVBSU#BMMBSE 4UVBSU1BSNFOUFS 4VCSBNBOJBO1FSVWFNCB 4VOBWB%VUUB 4VTBO#PSHSJOL 4VTBO
    -FTDI 4ZMWBJO1BTDIF 5+$SPXEFS 5BOUFL…FMJL  
     5".63",FOU
    5FE.JFMD[BSFL 5FSSFODF8PPE 5IPNBT
    #SPZFS 5IPNBT0$POOPS 5JN"MUNBO 5JN+PIBOTTPO 5PCZ*OLTUFS 5PEE.PPEZ 5PN1JLF 5PNNZ5IPSTFO 5SBWJT
    -FJUIFBE 5ZMFS$MPTF 7MBEJNJS,BUBSEKJFW 7MBEJNJS7VLJÅFWJÅ WPSBDJUZ 8BLBCB 8BZOF1PMMPDL 8FMMJOHUPO'FSOBOEPEF
    .BDFEP 8JMM-FWJOF 8JMMJBN4XBOTPO 8MBEJNJS1BMBOU 8PKDJFDI.BDI 8PMGSBN,SJFTJOH :BOH$IFO :FIVEB,BU[ :J
    "O)VBOH :OHWF/ZTBFUFS1FUUFSTFO :V[P'VKJTIJNB ;IFOCJO9V ;PMUBO)FSD[FH BOE–JTUFJO&"OEFSTFO GPSUIFJS
    VTFGVMDPNNFOUT CPUIMBSHFBOETNBMM UIBUIBWFMFEUPDIBOHFTUPUIJTTQFDJИDBUJPOPWFSUIFZFBST

    5IBOLTBMTPUPFWFSZPOFXIPIBTFWFSQPTUFEBCPVU)5.-UPUIFJSCMPHT QVCMJDNBJMJOHMJTUT PSGPSVNT JODMVEJOHBMM


    UIFDPOUSJCVUPSTUPUIF WBSJPVT8$)5.-8(MJTUT BOEUIF WBSJPVT8)"58(MJTUT

    4QFDJBMUIBOLTUP3JDIBSE8JMMJBNTPOGPSDSFBUJOHUIFИSTUJNQMFNFOUBUJPOPG DBOWBT Q JO4BGBSJ GSPNXIJDIUIF


    DBOWBTGFBUVSFXBTEFTJHOFE

    4QFDJBMUIBOLTBMTPUPUIF.JDSPTPGUFNQMPZFFTXIPИSTUJNQMFNFOUFEUIFFWFOUCBTFEESBHBOEESPQNFDIBOJTN
    DPOUFOUFEJUBCMF Q BOEPUIFSGFBUVSFTИSTUXJEFMZEFQMPZFECZUIF8JOEPXT*OUFSOFU&YQMPSFSCSPXTFS

    5IBOLTUPUIFQBSUJDJQBOUTPGUIFNJDSPEBUBVTBCJMJUZTUVEZGPSBMMPXJOHVTUPVTFUIFJSNJTUBLFTBTBHVJEFGPS
    EFTJHOJOHUIFNJDSPEBUBGFBUVSF

    4QFDJBMUIBOLTBOE UP%BWJE)ZBUUXIPDBNFVQXJUIBCSPLFOJNQMFNFOUBUJPOPGUIF BEPQUJPOBHFODZ


    BMHPSJUIN Q UIBUUIFFEJUPSIBEUPSFWFSTFFOHJOFFSBOEИYCFGPSFVTJOHJUJOUIFQBSTJOHTFDUJPO

    5IBOLTUPUIFNBOZTPVSDFTUIBUQSPWJEFEJOTQJSBUJPOGPSUIFFYBNQMFTVTFEJOUIFTQFDJИDBUJPO

    5IBOLTBMTPUPUIF.JDSPTPGUCMPHHJOHDPNNVOJUZGPSTPNFJEFBT UPUIFBUUFOEFFTPGUIF8$8PSLTIPQPO8FC
    "QQMJDBUJPOTBOE$PNQPVOE%PDVNFOUTGPSJOTQJSBUJPO UPUIFNSUDSFX UIFNSUOPDSFX BOEUIFXIBUXHDSFX
    BOEUP1JMMBSBOE)FESBMGPSUIFJSJEFBTBOETVQQPSU

    

    Das könnte Ihnen auch gefallen