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9 A8 4: A4G D)4A3#H; A A<9A 5<54:@ BC: 64= @ BCFHG4)4G4@ D)5@ 4ABC8>6= = 4B^A 9:D)j J= @ FHG 4,
9 Di4@ A4)? 6= BCFHG 4k- aG : 8 4)_C9<= 4J 4A+R= j 8 _C= @ FHG<c 6: l B^5 @ 4)fj BC4
8 6BC@ R 4= f BC8 b&4: BC8 aA 5= @ FHG<G a8 8 4Y0 4= D)98.C; G=mA @ 4D)6= B(J4c 6J 8
9 A5<4: G 6: 5< FHG: j 5 4:c @ : 5<BC@ FHG<A@ 4D)6= B^c 6J 4A, BC: 64= D)@ 8>5 4:
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9 ABCFHG 9= 5@ J4A36AA<c 4J4A<4: ? 9A 54A 4:g.C2M "4: f: 4FHG 4A<69 ? G aA J4A<_C9
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5 @ 4)!; 8 6= ? a= BCFHG9 AJ<5 4B^ "9 BCc(4@ BC`6`@ 4: B^_C9<BC6J4AR9A<BC@ A5
A 4f4A<5 4:g; : 5 BC6FHG 4#C6: BCFHG 4= 4: BC8 D)6= B(Nf 4: _C49J 4A5 4 A 5@ _C@ 4A<f 47&6A A8
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9 A5< ; = @ AJ 4A<4f4A ? 6= = B^b&4: 6A8 c(; : 8 = @ FHG<_C4@ FHG A48HR "fc 4J@ J<@ BC8>5 6B
A@ FHG8HR'4:4@ A4A<5 498 BCFHG4A3@ A@ BC8 4: ` : aBC@ 54A 8 4A<9 D)f: @ AJ 8 ,5 4:
BCFHG : 4FH7&8>5; FHG<b&; :BC; = FHG 4A<q 1 6`` 6= @ 4A q
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>A5 ,(0 6A5<69? B04: _!R'N: 5 4BC@ FHG<4@ A<5 498 BCFHG4:%; = @ 8 @ 7&4:o 4D)6= B
c 6J 4A,5 @ 4)D)98 D)6* = @ FHG 4A<@ BC: 64= @ BCFHG4A<!a8 4:_C9<A4A A4A rs@ 4D)6= B!t
@ 4.C: @ D)@ A6= @ BC8 @ 7gBC9 FHG8>f 4@ 54: "9? 7&= a: 9A J<4@ A 4B^"4: f : 4FHG4A B
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J 4; : 5A 48 ,J 4c(4: 8 48>9A 5<J4c @ FHG 8 48HR; 8 @ bgG 4@ * 8 ,54A<: 9 A5<_C9
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5 6BCB(54A<@ BC: 64= @ BCFHG 4A<4G4@ D)5@ 4ABC8; BCBC65<_C9<54A<69? J4= @ BC8 48 4A
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4= f BC8 D); : 5 M: ; ` 6J 6A 56)5 4:g#C; AA 4:"4: 8 9BCFHG 4:9 A5<5 4B
J = 4@ FHGJ 4BCFHG6= 8 48 4A
45 @ 4A 7&6: 8 4= = B^J 4J= 69 f8HR#H6: BCFHG4= B^!; 5<c 6:? N :6= = 4!6f9 ,56B^G 68
o 454:% 4A 7&? aG@ J4)J4BC` N: 8HR@ A<BCFHG c(4@ _C4:9 8 6FHG8 4A<c(9 : 54)9A 8 4: 5 : NFH7&8 ,
5 9: ? 8 4)A@ FHG8>6A<5@ 4Z+? ? 4A8 = @ FHG7&4@ 8>7&; D)D)4A+R4:D)@ 8>54De- 6= = f 48 : 698 4
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4@ A<4J4A J9 8 6FHG8 4A<@ A3N AFHG 4A<4: BC8 4= = 4A ,56B^A 9:BC;<b&; A
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4c 6= 8 4@ Ac @ : 7&9 AJ 4A
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7&; A ? : ; A 8 @ 4: 8 4)@ G A3&
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- = 4FH7&4Av9Dpa9 * 4: 42 4@ FHG 4A<b&; A<BCFHGc 4: 4A< FHG = 6J4@ Ac @ : 7&9 AJ 4A
G 6A 54= 8 4R
9 A<J9 8 ,(#C6: BCFHG 4= c(9 : 54)9D)J 4f: 6FHG8 ,6f 4:c 4:c 6: 4A<5 @ 4Yj : 54: r
: BC8>A 6FHG 54DeA5 4 4`8 4D)f4:%OP P [<"@ FH8 ; :
BC8 : ; b&BC7&d&B#C9FHG
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BC8 4= = 8 4)BC@ FHG<4@ A4)D)4: 7&c(N : 5@ J4Y0 47&8 @ 7%4@ AR
BC8 : ; b&BC7&d&,(u&M; BCBC65< "J4A 8 ,
c 4@ BC8>@ A<BC4@ A 4DE#C9FHG<5 48 6@ = = @ 4: 8>A6FHG,5 6BCB#H6: BCFHG4= b&; De; BCBC65
4: D); : 5 48>c(9 : 54)K "7&8 @ ; A306A A@ f6= LR:BC4= fBC8>4: ? 9G :b&; A<5 4:+: J6A@ BC68 @ ; A
@ A_C4= G4@ 8 4A<N f4:54A3#C6: BCFHG 4= M&; : 5,c 4@ = 4:? N :5 4A3; BCBC65
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D)@ 8>54Dp5aA@ BCFHG4A<4G 4@ D)5 @ 4A BC8>9A 8 4: G @ 4= 8RaA 4D)6: 7%c(6:4f 4A? 6= = B
+`4: 68 @ ; ABCJ 4f@ 48>54B; BCBC65<@ A< 6FHG4A3#C6: BCFHG 4= R#C & / 01%1&0

%1& #!t> 6B; 8 @ bU#C6: BCFHG 4= c(9 BCBC8 4i6= = 4B^N f4:54A<J 4G4@ D)4A
'6? ? 4AM&0 6A5 4= _Cc(@ BCFHG4A< BC: 64= 9A 5< : 6A<K 9Dp54A< : 6A<J4J 4A< 655 6D
09BCBC4@ A<_C9<9A 8 4: BC8 N8 _C4AL ,c(; f 4@.H@ 4= 9A 53.H; ` 4AG 6J 4A<6= B^J 4G4@ D)4
FHG= 49BC4A
? 9A J@ 4: 8 4AR 4:%; BCBC65<f @ = 548 4@ A3; : 55 498 BCFHG= 6A 5 T w @ : 6A @ BCFHG 4
.C6D)` ? ` @ = ; 8 4A<69?_Cc 4@ ` ; : 8 ? = 9 JG a? 4A<69 B!R "= B#H6: BCFHG4= 5 6b&; A
4: ? 9G : ,c(; = = 8 44:5@ 4c @ 5 4: : 4FHG8 = @ FHG4A< "7&8 @ b&@ 8 a8 4A<BC8 ; `` 4A,c ; : 69 ?
5 4:g; BCBC65<D)@ 80@ = ? 4)54B#"K 54:549 8 BCFHG 44G 4@ D)5 @ 4A BC8 L+4@ A4
FHGD)9 8 _C7&6D)`6JA 4J 4J4A<@ GA<BC8 6: 8 48 4,9 Di@ GA<_C9<BC8 N: _C4AR#H6: BCFHG4= B
: 4BCBC4: 4? 4: 4A84@ A 4:g? 4@ ? ? 4:Mb&; DE; BCBC65<q'G @ BC8 = 4: q
J 4A6AA 8>K 5 6B(4AJ = @ BCFHG4)'; : 8>? N :g? 4@ ? 4: L+Mc(9 : 54)D)@ 8>4@ A4:%: ; BC8 @ 8 9 @ 4: 8 4A
4: ` : 4BCBC8 ,9 Dib&; A<@ GDp5@ ? ? 6D)@ 4: 4A5 4 "9 BCBC6J 4A<Nf 4:BC4@ A4A</"G 4?_C9
f 47&; D)D)4A+R
4Di"4: ? 6BCBC9 AJ BCBCFHG9 8 _(c(9 : 54A<J 4? a= BCFHG 8 4) A? ; : D)68 @ ; A 4A<_C9J 4BC`@ 4= 8HU
#C6: BCFHG 4= B#H: 9 54:BC4@ 4@ A< 8 : ; G D)6A A<@ Dp'6? ? 4A M06A 54= K f4@- a= BCFHG9 AJ 4A
b&; A3; 7&9D)4A 8 4A<@ BC8>A@ 4D)6A 5<f4BCBC4:6= B^5 4:g; BCBC65xBC@ 4G4)5@ 4
J 4? a= BCFHG 8 4A
6`@ 4: 4J 4J4A<'6= 5 G4@ D),54:J4? a= BCFHG8 4 "9 BCc(4@ B^b&; Ay 4D)o 6A o 9 7
9 BCcR LR6A A<c(9 : 54)4@ A 4 4u&7&6D)` 6J A4)J4J 4A3#H6: BCFHG4= B^` ; = @ 8 @ BCFHG4A
.C; A7&9 : : 4A8 4A
A JG ; = DpK  L+@ ABC_C4A @ 4: 8 ,54: 4A3#C47&6A A8 D)6FHG 9A J<b&; A<54A<G @ = ? BCc @ = = @ J4A
45 @ 4A<9 A5<5 4DiJ 47&69 ? 8 4A3? 4@ ? ? 4:g#C6: BCFHG 4= 9A 8 4: J 4BCFHG; f 4A<c(9 : 54R
#C6: BCFHG 4= 7&; AA 8 4A<5 4DE: 9FH7%54:7&; A_C4: 8 @ 4: 8 4A<"4: = 49 D)59 AJ BCM9A 5
1 N J4A ; `4: 68 @ ; A<A@ FHG8>= aA J4:BC8 6A5 G6= 8 4A<9A 5<8 : 68>6D T R%+7&8 ; f 4:
OP z Q_C9: N FH7R24G A<!6J 4BC` a8 4:BC; = = 8 44:b&; :4@ A4DpA 8 4: BC9 FHG9 AJ BCM
"9 BCBCFHG9 BCB
@ DE.C@ 4= 4:g1 6A5 8 6J<69 BCBC6J 4A+R#C6: BCFHG 4= c(; = = 8 46= = 46A<54A
FHGD)9 8 _C7&6D)`6JA 4A
9 A5<@ = = 4J6= 4A<'6? ? 4AJ 4BCFHGa? 8 4A<f48 4@ = @ J 8 4A3; = @ 8 @ 7&4:69 ? ? = @ 4J4A
= 6BCBC4AR; BCBC65<M `@ 8 _C4A 6J 4A8>q&6Aq
: @ 4?^#H6: BCFHG4= 6A
BC4@ A4Dp: = 69 fBC5 ; D)@ _C@ = 69 ?54A<7&6A6: @ BCFHG 4A< ABC4= A<6A ,9Dp@ G A<D)@ 8
6AJ 4f= @ FHG 4A<c(4@ 8 4: 4A< A ? ; : D)68 @ ; A4A<A 6FHG<4A ?_C9<= ; FH7&4AR29 DiJ = 4@ FHG4A
2 4@ 8 `9 A7&8>? = ; J<4@ A4): 9` `4)b&; A<Q<f @ B(P3; BCBC65<Mgj : 54: A<K q .C@ 5 ; Aq L
4f 4A? 6= = B(A6FHG<4A?CR
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@ 4)!68HUq 6A q
8 : 6?^#H6: BCFHG4= @ DE0; 8 4=#C4693@ b&6J4)69 ?2@ D)D)4:
X OQR:G68 8 4.CaBC4)D)@ 8 J4f : 6FHG 8>9A 5<f4BC8 4= = 8 4)'4@ AR 6AA<f ; 8>4:
#C6: BCFHG 4= b&@ 4= 4= 5,9 Dib&; :54DpA 8 4: BC9 FHG9 AJ BC69 BCBCFHG9 BCB^_C9<BCFHG c(4@ J4AR
#C6: BCFHG 4= = 4G A8 46f+R6B(c(6:BC4@ A<!; 54BC9 : 8 4@ = t Dp'4@ A<c 6:4@ A<BC8 6: 7&4B
FHG= 6? D)@ 8 8 4= ,56B^6f4:A; FHG<A @ FHG 8>BC4@ A 4J 6A _C4'@ : 7&9A J<4A8 ? 6= 8 48
G 68 8 4R@ 4Y; BCBC65<Mgj : 5 4:BCFHG = 9 J4A3#C6: BCFHG 4= f: 9 8 6= _C9BC6D)D)4A,? NG : 8 4A
@ GDpD)@ 8>4@ A4Dp9D)D)@ BCFHG= 69 FHG3@ = = 4A<4@ A<9A 5<G4@ _C8 4A<D)@ 8- @ 4f4: _Ca`? FHG4A
5 4A3.Hj : ` 4:6A+R6A A<BCFHGD)@ BCBC4A<BC@ 4)@ G A<@ A<5 @ 4Y#H654c 6A A4,5 @ 4)D)@ 8
@ BCc(N : ? 4= A<J4? N= = 8>c 6: ,c 6B(4@ A 49 A6f5 @ A Jf 6: 4Y0 4: _C68 8 6FH7&4)D)@ 8
!; 5 4BC? ; = J4
69BC= j BC8 4R
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+BC8 : ; b&BC7&d%A4A A8>69? 4@ 8 4 T PO
? ?6f4:A; FHG<4@ A<6A 54: 4B; 8 @ b&,
#C6: BCFHG 4= _C9<8 j 8 4A+UqB^J 6f<@ DE; BCBC65<9A 5<f4@ 5 4A<: 4FHG8 4A3= 4D)4A 8 4A<@ A
5 4:g4J@ 4: 9A J<_C9A 4GD)4A 54)A _C9? : @ 45 4AG 4@ 8>N f4:56B^"4: G 6= 8 4A
b&; A3.C6A _C= 4:%0 4= D)98.C; G= ,54:5 @ : 47&8 4A<@ BC: 64= @ BCFHG4A<'6: A9 AJ 4A
{ b&@ 4= = 4@ FHG8>: @ FHG8 @ J 4:&U'4@ BC9 AJ 4A,5 @ 4Y&45 67&8 @ ; A |+f4_CN J= @ FHG<BC4@ A4:
#C4_C@ 4G 9A J<_C9Dpj BC8 4: : 4@ FHG@ BCFHG4A3: aBC@ 5 4A8 4A3.H9 : 8>'6= 5G 4@ Dp8 : ; 8 _C8 4YR R R
.C; G= c @ BCFHG 8 4)5@ 4@ BC: 64= @ BCFHG 4A3 : ; G 9A J4A<6= B; ABC4A B^f 4@ BC4@ 8 4
9 A5<b&4: 9 : BC6FHG 8 4)56D)@ 8>'9 8 69BCf : NFHG 4
@ A<@ BC: 64= @ BCFHG4A<4G 4@ D)5 @ 4A BC8 7&: 4@ BC4A3R R R
#C6: BCFHG 4= B#H4BC4@ 8 @ J9 AJ<c N: 5 4J = 4@ FHG_C4@ 8 @ J<4@ A< FHG= 6J<? N:%0 4= D)98.C; G=
BC4@ A,
5 4:J 4: 65 44@ A4)'6G = J4c ; AA 4A<G68 8 49 A5
BC@ FHG<54BCG 6= f<A9 A<A; FHG<9 A6AJ 4A4G D)4:69? ? N G: 4A
c N: 5 4,6= B^@ A<54:"4: J6AJ 4AG 4@ 8HR q
4:g; BCBC65<? a= BCFHG 8 4Y ; 7&9 D)4A8 4,5@ 4.C9: 8>'6= 5 G4@ D)B
@ A8 4: A68 @ ; A6= 4)}"FHG8 9A J<6= B^BC; J 4A6AA 8 4:
6_C@ M&.H: @ 4JBCb&4: f : 4FHG4:f4c @ : 7&4A<BC; = = 8 4A+R
q @ 4J 4? a= BCFHG 8 4A3; 7&9D)4A 8 4
c 9: 5 4A<56AA<b&; A<5 4Di@ BC: 64= @ BCFHG 4A3#H; 8 BCFHG6? 8 4:f 4@ 54:%+,(#H4A o 6D)@ A
48 6A d&6G 9, { BC`a8 4:@ BC: 64= @ BCFHG4:%@ A @ BC8 4: `: aBC@ 5 4A8>f @ B6@OP P P |
l 4A8 54FH7&8 l R6B(c(6:!4@ = 4@ A 4:g@ ? ? 6D)@ 4: 9 AJ BC7&6D)` 6J A4)J4J 4A<'6= 5G 4@ D),
5 4:5 4A<@ BC: 64= @ BCFHG4A< "7&8 @ b&@ 8 a8 4A<@ DiBCN 5= @ FHG 4A31 @ f 6A ; A<7&: @ 8 @ BCFHG
J 4J4A Nf 4:BC8 6A 5+R q
K 4@ 8 4 T POL)6FHG<54De#H6: BCFHG4= M; : 5<c 9: 5 4
.C; G= _C9 DiJ 4? N J@ JBC8 4A< ABC8 : 9D)4A 8>@ BC: 64= @ BCFHGM o N 5@ BCFHG4:%; = @ 8 @ 7&,c(@ 4
BC@ FHG<_C4@ J 4A<BC; = = 8 4R
.C01&U - 1 ~O w ha0& % 1 < 1 #H
C. ; G= BC; = = 8 46= BC;? N :BC4@ A4Y0 6= 8 9A J,5 @ 4)A@ FHG8>@ D)D)4:D)@ 8>54A<@ BC: 64= @ BCFHG 4A
'4= 8 D)6FHG8 @ A 8 4: 4BCBC4A<N f4: 4@ ABC8 @ D)D)8 4A,D)@ 8>54De; : 5<6A<BC4@ A4De- : 49 A5
#C6: BCFHG 4= f4BC8 : 6? 8>c(4: 5 4A+R4:g@ FH7&4)D); FHG8 45 @ 4)h9 54A<A @ FHG 8 ,5 6B
c 6:? N :o 454A3.C4AA 4:5 4:g68 4: @ 4f 4@ J: N A5 = @ FHG4: "A6= d&BC4)BC4@ A 4:
06A 5= 9A J4A
9 A5<BC4@ A4B(D)J 6A JB(4: 7&4AA f6:&R ;BCFHG= 9J<4:54:J4BC6D)8 4A<h95 4Ac 4= 8
D)@ 8 8 4A<@ A B^4BC@ FHG8 ,6= B^4:D)@ 8>5 4Di4G 4D)6= @ J 4A< M: aBC@ 5 4A8; A6= 5
46J 6A3OP z ] 54A< ; = 5 68 4A? : @ 45 G; ?^#C@ 8 f9 : J<f4BC9 FHG8 4R- N :5 @ 4
h95 4A; : J 6A @ BC68 @ ; A4A
c 6:56B^4@ A<!6f 9M&#H: 9 FHG,5 6)549 8 BCFHG 4 ; = 5 68 4A<b&; A<54A<>  f@ B^5 6G @ A
A @ FHG 8>J44G : 8>c(4: 5 4A<59 : ? 8 4A+R 4@ A<` 4: BCj A= @ FHG 4:gu&M&#H4: 68 4: ,(68 4:
#C6BC@ = @ 9B( 8 : 4@ 8 G; ? 4A,b&4: 7&N A5 48 4)f4@ BC4@ A4A345A 4: 69 ? 8 : @ 8 8 4A ,
5 6BCB(h9 54A<9 A53; = 4A<5@ 4J : j * 8 4A< "9 BCf49 8 4:54B(549 8 BCFHG 4A
8 49 4: _C6G = 4: B
BC4@ 4A,c 6B( 8 : 4@ 8 G; ? 4A<4@ A<4: @ FHG8 BCb&4: ? 6G: 4A<4@ Af : 6FHG 8 4R `a8 4:
= 4@ BC8 48 4) 8 : 4@ 8 G; ? 4A<K 69?^.C; G= B: aA J4A L+j ? ? 4A8 = @ FHG< "ff @ 8 8 4RB(@ BC8
6f4:69 BCJ4BCFHG = ; BCBC4A ,€56BCB^ 8 : 4@ 8 G ; ? 4A<5 4: 6: 8 @ J 4B^45 6A 7&4AJ 98
` ? = 4J8 4
9 A5<J = 4@ FHG_C4@ 8 @ J<`4: BCj A = @ FHG4:%#H4: 68 4:b&; A3.H6A_C= 4:g.C; G= BC4@ A<7&; AA 8 4
M4B(BC4@ 54A A,5 4:/"G 4?56FHG8 4c @ 4)BC4@ A3#C4: 68 4: 8 : 4@ G; ? 4A+R
>A5v56B^c 9BCBC8 4A<5@ 4h95 4A,4J 6= D)@ 8>c(@ 4b&@ 4= "9BCFHG c(@ 8 _CM 4BC48 _C4A<9 A5
D)@ 8
c @ 4)b&@ 4= f : 6FHG @ 6= 4A<"4: ? ; = J 9A JBCD)6* A6GD)4A<K 69 FHG<J4J 4AN f4:%O w o aG: @ J4A
'@ 7&@ A J<Mh9 J4A 5= @ FHG 4AL+4:BC@ FHG<4@ A< "= @ f@m_C9<b&4: BCFHG 6? ? 4A<b&4: BC9 FHG8 4R

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9 A5<5 4:g- "2<= 4BC4A ,56BCB^5 @ 4YA8 GN = = 9A J4A<+BC8 : ; b&BC7&d&B(4: ABC8>_C9<A 4GD)4A
BC4@ 4A+R@ 4Y- "2<6D T zR PR OP P [69 ? 4@ 8 4YO[<N f4:54A< "9 8 ; :&Uq
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4:Nf 4:b&@ 4= 4: = 4@ J9 8>@ A ? ; : D)@ 4: 8>@ BC8HR q
"f 4:A 9:c(4A @ J‚BC` a8 4:
c 9: 5 4+BC8 : ; b&BC7&d%c(@ 454:69 B^5 4A345@ 4A<G4: 69BCJ 4A; D)D)4A ,BC; ABC8>c a: 4
5 @ 4Y1 NJ 4b&; Dƒ 4= fBC8 D); : 5<A@ FHG8>D)4G :G 6= 8 f 6:J4c 4BC4A+R"@ 4= _C9<b&@ 4=
c 6:f4: 4@ 8 B(6A B^!6J4BC= @ FHG 8>J4= 6A J8HR„A 5<4@ A3#C6: BCFHG 4= M 4= fBC8 D); : 5M
2 c(4@ ? 4= M "4: f ; 8 BCJ 4BC48 _(K aGA = @ FHG<54D…0 ; = ; FH69 BC8 M 24@ ? 4= M "4: f ; 8 BCJ 4BC48 _CL
c 6:A; FHG<A @ FHG 8>59 : FHGBC48 _Cf6:&R "Di[R O R OP P [f: 6FHG8 4A<A; FHG‚4@ A@ J4
: 4J @ ; A 6= 42 4@ 8 9A J4A<? ; = J 4A5 45 `6M4= 59 AJUqR R R#H6: BCFHG4= BC4@
5 9: FHG<5 4A<@ BC: 64= @ BCFHG4A‚4G 4@ D)5 @ 4A BC8; BCBC65<= @ † 9@ 5@ 4: 8>c(; : 5 4A+R q
; FHG<56B^c 6:56B^= 48 _C8 46= ,€5 6BCB(54:%; BCBC65<j ? ? 4A 8 = @ FHG<6= B(!a8 4:
J 4A6AA 8>c(9 : 54R "f<5 4Di\R O R OP P [c(9 : 54)9A 8 4:‡ "9? f@ 48 9 AJ<6= = 4:
45 @ 4A M
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9 A8 4: BC8 4= = 8>@ BC8 L ,G68>qA 6FHG36: BC8 4= = 9A J<54:%1 Nf 4FH7&4: 8 668 BC6A c(6= 8 BCFHG6? 8
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1 4@ 8 4A 54ˆ
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b&; De#H9 A5 4BC6D)8>? N:"4: ? 6BCBC9A JBCBCFHG 98 _‰9 AD)@ 8 8 4= f 6:&R q
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"7&8 4Ab&4: A @ FHG 8 9 AJ
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69?^1 6A5 4BCM ,BC; A 54: AŠ#C9A 54BC4f 4A4R q
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c @ 4)@ D)D)4:c(@ 454:J= 69 fG 6? 8>b&4: BC@ FHG 4: 8>c(@ : 5+R "= BC;<b&; A<5 4:"4: BC@ ; A,
5 @ 4)5@ 44A BCFHG4A<? 6BC8>N f4: 6= = 69?5 4:'4= 8>f4@ j ? ? 4A 8 = @ FHG 4A<}"9BCBC4: 9 AJ 4A
69? BC6J 4A<D)NBCBC4A ,c(; = = 4A<BC@ 4A @ FHG 8>f4BC8 : 6? 8>c(4: 5 4A+R 5 4A8 @ 8 a8 BCb&4: = 9 BC8
f 4549 8 48>? N:‡ BC: 64= A @ FHG 8 B(6A 54: 4BC,6= B(56BCB^5 4: 8 668>9 A5<5 @ 4
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5 6B0 ; = ; FH69 BC8 M 
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o 454B(9A = @ 4fBC6D)4- ; : BCFHG9 AJ BC4: J4f A@ B^@ A< 6FHG4A30; = ; FH69BC8
= ; J@ BCFHG4: c 4@ BC4
6= B4u&@ BC8 4A8 @ 4= = 4Y#H45 : ; G9 AJ<f 48 : 6FHG8 48R>A= @ 4f BC6D)4Y0 ; = ; FH69 BC8 M
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BC4@ 8>4@ A @ J 4A<h6G: 4A<5 @ 4)!4A5 4A_(59 : FHG,5 6BCB(5@ 4o 9A J4)549 8 BCFHG 4
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G 68HR€ @ 4454A BC6: 8 ,q@ FHG<G6f4)A@ FHG8 B^5 6D)@ 8>_C9<8 9 A,b&4: ` @ BCBC8
49 FHGq ,c(9 : 54)_C9DƒJ4? = N J4= 8 4A<'; : 8HR'4AA<5 4:g; BCBC65<BCFHG; A
5 4A3.H6A_C= 4: ? : 49 A53#C6: BCFHG 4= 9D)f : @ A J8 ,9De.H; G = 4@ A 4k1 47&8 @ ; A<? N:
#C@ 8 f9 : J<9A 5<? N :5 @ 4)A@ FHG8>69? J47&N A5 @ J 8 4Y- : 49 A5 BCFHG6? 8>_C93.C9: 8>'6= 5 G4@ D
_C9‚4: 8 4@ = 4A,_C9<c 6B(4: BC8>D)9BCB(5@ 4BC4+: J6A@ BC68 @ ; A<? aG @ J<BC4@ A,c 4AA
BC@ 45 4A3#H4BC8 6A 5<54B4@ J 4A4A< 8 668 4B^9 A5<5 @ 4)o N 5@ BCFHG4)'4= 8 D)6FHG 8
@ A<4? 6G:BC@ 4G 8 r>Di9 ABC4: 4)h9 J4A 5<@ AŠ#C9BCBCG 6= 8 9 AJ<9 A5<4c @ J 4:
"A f48 9A J
5 4B^h95 4ABC8 668 4B(_C9<G6= 8 4A,c ; = = 8 4)@ G :5 4:g; BCBC65<; ? ? 4Af 6:‡4@ A 4A
A 494A< FHG9 = 5 7&; D)`= 4ug@ A<5@ 4 44= 4)f: 4A A4AR "9FHG<BC; = = 8 4b&4: G @ A 54: 8
c 4: 54A ,56BCB‰A 68 @ ; A 6= 46: 8 4@ 4A<_C9:%#H9 A5 4BC8 6JBCc 6G = _C9
8 @ D)D)4: ? ; = J4A
7&; D)D)4A<c N: 5 4A+R
X R#"   / 01 "Y"YZ1&1&
2 94: BC8>f : 6A A8 45 6B0 69B(54B(8 N : 7&@ BCFHG 4AŠ&69BCFHG J@ ? 8 GaA5 = 4: B(9A 5
2 9G a= 8 4: B- 6: 97% ": BC= 6A<@ A3j = = AR : 4@ !N : 7&@ A A4A<7&6D)4A<@ A<5 4A
- = 6D)D)4A<9DYR4:g; : 5<6A<54A<5 : 4@ 8 N : 7&@ BCFHG 4A3- : 694A<b&; A3j = = A<7&j A A8 4
@ A<29 BC6D)D)4A 6: f 4@ 8D)@ 8>54Dp8 N : 7&@ BCFHG 4A<4G4@ D)5@ 4ABC8>J 4BCFHG4G 4A
BC4@ A+R
@ 4Y- : 694A<c 6: 4A<4@ AJ 4BC`4: : 8 ,5@ 4 FHG= NBCBC4= BC8 4FH7&8 4A<b&; A<69* 4A ,
BC;56BCB^BC@ 4A @ FHG 8>? = NFHG 8 4A<7&; A A8 4A+R@ 4) BC: 64= = ; f fd&B= 4@ BC8 48 4A
D)@ 8>@ G : 4A<'4= 8 D)45@ 4A<K 5 @ 4BC4)f4? @ A 54A<BC@ FHG<_C9<? 6BC8>G9 A5 4: 8: ; _C4A8
@ A<o N 5@ BCFHG4D…#H4BC@ 8 _CL+J 6A _C4 ": f 4@ 8HR @ 4048 _C7&6D)`6JA 4A<J4J 4A
498 BCFHG= 6A 5,
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OP [ \A@ 45 6)J4c 4BC4A4Y0 d&BC8 4: @ 4R>A6f= aBCBC@ J<c(9 : 54)54:
'4= 8 f 4b&j = 7&4: 9 AJ
5 @ 4)4? 6G:4@ A 4B^'% "%-."^ "! ) 1  +> l@ A<5@ 4
G d&`A ; 8 @ BC@ 4: 8 4A
4G @ : A 4J 48 : @ 4f4AR 6A6FHG<c(6:g498 BCFHG= 6A 5<c(@ 54: BC` : 9FHG BC= ; B(f4: 4@ 8 ,
.C: @ 4J BCJ4: a8>6A< BC: 64= B("4: fN A5 48 4A ,5@ 4!N : 7&4@ ,? N:54A3.C9: 5 4AD); : 5
_C9 DE9 = = 8 6: @ ?_C9‚= @ 4? 4: A+R= 4@ FHG _C4@ 8 @ J<8 : 6A BC? 4: @ 4: 8 4)56B#C; AA 4:
- @ A 6A _CD)@ A @ BC8 4: @ 9 Di_C9 BCa8 _C= @ FHG4Y@ = = @ 6: 5 4A‚A6FHG< BC: 64= ,9Dp69 B
5 4A< FHG = 6J_C4@ = 4A<5 4:'4= 8 ` : 4BCBC4_C9<7&; D)D)4A<K 54:; ? ? @ _C@ 4= = 4
"4: c 4A5 9A JBC_Cc 4FH7
c 6:A68 N : = @ FHG<4@ A<6A5 4: 4: LR4:4G 4D)6= @ J 4 A A4A BC4A68 ; :b&; A3#H4: = @ A
K / >L’9A 5<= 6AJ o aG: @ J4Y#H9 A5 4BC8 6JBC6fJ 4; : 5A 48 4Y0 4@ A: @ FHG31 9D)D)4:
f : 6FHG 8 4
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4c 6= 8 8 68 4A<G@ 4: _C9= 6A 54)6= B^8 67&8 @ BCFHG 4B6Aj b&4: ,9 Di= 4@ FHG 8 4:6A3#C; AA 4:
4= 5<_C9<7&; D)D)4A+R q1 %^^Uq @ FHG 8 @ J<@ BC8 ,56BCB^ BC: 64= BC; = FHG 4
.C: @ 8 @ 7%69 FHG<D)@ 8? @ A 6A _C@ 4= = 4A3- ; : 54: 9 AJ 4A<b&4: f@ A5 48R q
K BC8 4: A
T T – OP P X , 4@ 8 4 T [ z L’2c 4@ c(@ = = 7&N: = @ FHG<b&4: G 6? 8 48 4o 9A J4Y1 498 469B
5 4Di>D)? 4= 5‚A68 @ ; A6= 4:h9 J4A 57&: 4@ BC4J 4BC8 6A5 4A<A6FHG<4@ A @ J 4A<q
; A5 4: b&4: A4G D)9A J4A q
_C9A aFHG BC854A3#C: 6A 56ABCFHG = 6J<b&; A3j = = A,
c @ 5 4: : @ 4? 4A<o 45 ; FHG<b&; :4: @ FHG8HR @ 448 G; 5 4A<_C9Dƒq 04: 69 BC7&@ 8 _C4= A q
4@ A4B(4BC8 aA5 @ BClBC@ A5<f 4@ 4= @ 7&8 4A<b&; A<5@ 4BC4:` ; = @ 8 @ BCFHG4A
!: 6Jc 4@ 8 4a9BCBC4: BC8>c @ : 7&BC6DYR "9?o 454A3- 6= = BC8 4= = 8 44@ A
#C: 6A 5BC6FHGb&4: BC8 aA 5@ J4:
? 4BC8 ,5 6BCB5@ 4#C: 6A 5f 4BCFHG= 49A @ J 4:J 6:A@ FHG8>6A<54: 8 4= = 4@ A<56B
069 B^J 4c(; : ? 4A<c(9 : 54A ,5@ 4b&; A<4@ A4Dƒ54:"4: 5aFHG8 @ J 4A<@ A<BC4@ A4D
q 4BC8 aA5 A@ BCq
J4A 6A A8>c 9: 5 4R 6B^9 8 6FHG8 4A<c(9 : 54ˆ6f J4= 4GA 8 ,
5 @ 4)"4: 9: 8 4@ = 9A J<4: ? ; = J8 49 A8 4:"4: = 48 _C9 AJ<5 4:? 9A 56D)4A8 6= BC8 4A<: 9 A5 M
9 A5Š4A BCFHG4A : 4FHG8 4R 4:h9 J4A 5<c(9 : 54)c(@ 454:4@ A D)6= 4: ? ; = J : 4@ FHG
q f4c @ 4BC4A q,5 6BCBo 45 4:g498 BCFHG4)D)@ 8>4@ A4Dpqf j BC4A
4A q
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4J@ 4: 9A J<? 68 6= 69 BCc(@ : 7&4A<c(N : 54R- 6_C@ 8U6FHG<54Dpq #C: 6A 5b&4: f : 4FHG4A
5 498 BCFHG4:4AM&6FHG 6: 8 q
f45 498 45 4:A 68 @ ; A 6= 4'4J<5 4:'4J<5 4B
q#Hj BC4A q R€#C4BCBC4:BC4@ 4BC,69FHG<c 4@ 8 4: G@ A<@ A3@ FHG 8 9 AJ
 BC: 64= _C9<BCFHG694A<9 A5<BC@ FHG<@ A<4c @ J 4:‘2 6G = 9 AJ BCf4: 4@ 8 BCFHG 6? 8>A68 @ ; A6=
69? _C9J 4f4AR

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9 A5<D)9 BCBC8 4A<5 4BCG6= f<c 4@ 8 4: 4? NA ?!N: 7&4A ? : 694A<@ A< ; = @ A J4A
b&4: f : 4AA 4Ar
'; G = J 4D)4: 7&8 ,5 @ 4)
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9 : ; `6M "4: 8 : 48 9 AJ<5 4:Π.!.^D)6FHG 8 4)= 698- "2<b&; D T R \R OP P [f4: 4@ 8 B
6DEO Rh9A @OP P X 5 4A<8 N : 7&@ BCFHG 4A<4G4@ D)5@ 4ABC8>? N:‡54A< ; = @ AJ 4:
#C: 6A 56ABCFHG = 6J<b&4: 6A 8 c ; : 8 = @ FHGR 4= fBC8 b&4: BC8 aA5 = @ FHG<c(9 : 54)5@ 4BC4:c @ FHG 8 @ J4
0@ A c(4@ B^5 4:5 498 BCFHG4A<Z+? ? 4A8 = @ FHG7&4@ 8>b&4: BCFHGc @ 4J 4A<9A 5<7&4@ A 4: = 4@
: D)@ 8 8 = 9 AJ 4A
@ A<5@ 4BC4k@ FHG 8 9 AJ<4@ AJ 4= 4@ 8 48HR'@ 4)@ A3j = = A ,c(6: 4A<69 FHG<@ A< ; = @ AJ 4A
5 @ 4)!N: 4A<o 4A4:2@ D)D)4:b&; A‚69BCBC4Avb&4: BCFHG= ; BCBC4A,@ A<54A 4A<BC@ FHG
5 @ 4Y- : 694A<f 4? 6A5 4A+R "9 FHG<G@ 4:J 6f<4B(? N :5 @ 4)
` ? 4:‡7&4@ A 4
- = 9 FHG8 D)j J= @ FHG 7&4@ 8HR
@ A4) ; = @ A J4: "9J 4A_C49 J@ A,5 @ 4Y0 @ = ? 4G ; = 4A<c ; = = 8 4,BC6G<4@ A 4: 9 `` 4
b&; A<8 N: 7&@ BCFHG4A3aAA 4: A<b&; :5 4Di@ A3- = 6D)D)4A<BC8 4G4A 54A3069 B^8 68 4A= ; B
G 4: 9D)= 9A J4: AR„ "= B(5@ 4498 BCFHG4)5@ 4!N : 7&4A<69 ? ? ; : 54: 8 4,5@ 4
- 494: c 4G:
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: 45 4A<c(N : 54R@ 4)!N: 7&4@ G 68 ,c(@ 4c @ :c(@ BCBC4A,4@ A<BC8 6: 7&4B‰ A 8 4: 4BCBC4
5 6: 6A,5 6BCB(@ G : 41 6A5 BC= 49 8 4)@ A3498 BCFHG= 6A 5<5@ 4_Cc 4@ 8 4
8 668 BCfN : J4: BCFHG 6? 8
4: G 6= 8 4AR6FHG<5 4Di "A BCFHG= 6J<c 9: 5 45 6B(!G4D)6)G ; FHGJ 4BCFHG697&4= 8>9A 5
A 9A
@ BC8>56B^2 @ 4= 4: : 4@ FHG8M5 @ 4)!N: 7&4A<c 4: 54A3498 BCFHG4)9A 5<Nf 4: A4G D)4A
9 ABC4:%1 6A 5<c(@ 4BC@ 4.C9: 5 @ BC8 6A<J 4A; D)D)4A<G 6f 4A+R„>A5<7&4@ A4:c(6J8
@ A3 49 8 BCFHG = 6A5<_C9<c @ 5 4: BC`: 4FHG 4A+R- N:54A<@ BC: 64= @ BCFHG 4A<4G4@ D)5@ 4ABC8
c 6:4B‰c @ FHG 8 @ J,5 6BCB(4@ A<c 4@ 8 4: 4B^'9 A5 D)6= @ A<5@ 4 44= 4)54:
5 498 BCFHG4A
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  Z)1  / 0.! ! M&  "% ^—- %% / 0+
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"4: ? 6BCBC9 AJ BCBCFHG9 8 _CM ` @ 8 _C4= B( FHG D)@ 8 8>BC; ? ; : 8>69? J48 : @ 4f 4A+R FHGD)@ 8 8>= 4@ 8 48 4
4@ A4˜.H6: 68 47&6D)` ? BC` ; : 8 BCFHG 9= 4@ A< ; = @ A J4A ,f; 8>BC@ FHG<54De&4FHG 8 4A
1 6J4:6A<9 A5<4: BC8 4= = 8 4)? N :5 @ 4˜#H4G j : 54)54B; : 5: G 4@ A<'4BC8 ? a= @ BCFHG4A
 A A4A D)@ A @ BC8 4: B^ FHGA ; ; :g4: BCj A = @ FHG7&4@ 8 BC5 @ 6J: 6D)D)45 4:‘f 4@ @ G D
8 : 6@ A@ 4: 4A5 4A
h9J 4A5 = @ FHG4AR @ 4BC4@ 6J: 6D)D)44: = 4@ FHG 8 4: 8 4A<4B^BC` a8 4:5 4A<549 8 BCFHG 4A
4G 4@ D)5 @ 4A BC8 4A<9 A5<5 4DE; BCBC65,f 4Aj 8 @ J 8 4)!a8 4:_C9<? 6f : @ _C@ 4: 4A+R
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BC@ A5<4B(4A8 c(45 4:‘J 6A _^o 9A J4Y#HN fFHG 4A<K FH6>RO ] h6G : 4L+; 54:= 6f@ = 4
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04: 69 BC7&@ 8 _C4= 4@ 4Aq
A @ FHG 8>69 ?q9 AA j 8 @ J4q
FHGc @ 4: @ J7&4@ 8 4A
BC8 j BCBC8 rs4A<o 9 AJ 4A31 498 4A<c(9 : 54)J45 : ; G8 ,BC@ 4)c(N : 54A<@ A<24= = 4A<D)@ 8
!N : 7&4A<b&4: = 4J 8>c(4: 5 4A‚9A 5<4B^c 9: 5 4@ GA 4A<f4@ 5 4A<BC8 9 A5 4= 6AJ 4A
"4: G j : 4A<; ? 8 D)6= B^c aG : 4A5<5 4:J 6A _C4A<24@ 8>4@ A 4BCFHG c(6: _C4.C6` 98 _C4
N f4:54A3.C; `?J 4BC8 N = ` 8R€R R R #! <' ."Y#"2  A
c 4A@ J4A
!6J4A<G 68 8 4A<5 @ 4)4G4@ D)5@ 4ABC8 46= = 4B^@ DE.C6BC8 4A+RBBCFHG@ 4A,6= B
G a8 8 4A<BC@ 45 4A3#H4G j : 54A<b&; : J 4? 4: 8 @ J 8 4)!a8 4:J 4= @ 4? 4: 8HR "= = 4: 5@ AJ B
c 9: 5 4_C9‚G 6BC8 @ J<J 46: f 4@ 8 48 ,c 6B(D)@ 8>b&@ 4= 4A36AA 4A<4@ A G4: J @ A J+R
6B(24@ 8 5 @ 6J: 6D)D)M 9 8 6FHG8 4A<54:‹- 49 4: c(4G :BC8 4= = 8 4)_Cc(4@ ? 4= BC? : 4@
? 4BC8 ,5 6BCB(5@ 4b&@ 4:g#C4BCFHG9 = 5 @ J 8 4A<_C9 :g#C: 6A 5_C4@ 8>J6:A @ FHG 86Dp!68 ; : 8
J 4c(4BC4A<BC4@ A<7&; AA 8 4AR 6: Nf 4:G @ A 69 B^BC8 4= = 8 4)4@ A<FHG 4D)@ BCFHG 4B^9 8 6FHG8 4A
4@ A5 498 @ J‚? 4BC8 ,5 6BCB(4B^BC@ FHG<f4@ 5 4DE#C: 6A 5f 4BCFHG= 49A @ J 4:A @ FHG 8
9 DE#C4A_C@ A,BC; A 54: A<9 D™@ A@ 4A8 4: `4A 8 @ = j = G 6A 54= 8 4R@ A@ 4A8 4: `4A 8 @ = j =
@ BC8>4@ A<@ A<54:!N: 7&4@ J 4f: a9FHG = @ FHG4:‹#H: 6A5 f4BCFHG = 49 A@ J4: ,@ A
498 BCFHG= 6A 5
BC;J9 8>c(@ 4A @ FHG 8>4: Ga= 8 = @ FHG+R "9 ?o 45 4A3- 6= = 7&; A A8 4A‚5@ 4b&@ 4:
h9A JB(5@ 4BC4B@ 8 8 4= A@ FHG8>f 4@ 54:%#"
!6A 7&BC8 4= = 4)J47&69? 8>G6f4A ,c(@ 4
BC@ 44B(f4@ 5 4A‚"4: Gj : 4A<q J4BC8 6A 54A q
G6f4AR€.H 
0U
#!  )  %- } 1&1   V "/ 0h48 _C8>BC48 _C8 4Y6A @ 7%4@ AR 6B
#C: 6A 5G 69 B
c 9: 5 4N f4:%6FHG 8>54D…: 5f ; 54A<J = 4@ FHGJ 4D)6FHG 8 ,c 4@ 8 4: 49 8 6FHG8 4A
7&; A A8 4A<6= BC;<A @ FHG 8>D)4G:4: BC8 4= = 8>c 4: 54A<M5 6B(/"; : `9 B‰5 4= @ FH8 @
c 6:b&4: A@ FHG8 48R@ 4)98 6FHG 8 4A<b&; A<b&4: 4@ 5@ J8 4A3#H: 6A5 M 6FHG b&4: BC8 aA5 @ J 4A,
5 @ 4ˆf4c @ 4BC4A<G a8 8 4A ,56BCB^5 @ 4)b&@ 4:o 9 AJ 4A3aA A4:54A3#C: 6A 5<A@ FHG8
J 4= 4J 8>G6f4A<7&; A A8 4A,= @ 4*56BNBCBC4= 5; : ? 4:+f4: = 6A 54BCJ 4: @ FHG 8
BC` a8 4:@ DE: ; _C4BCB(A@ FHG8>_C9R0 6AB1 95 c(@ J<26FHG4: 8 ,: aBC@ 54A 8>54B
#C9A 54BC7&: @ D)@ A 6= 6D)8 BC,7&6DpBCFHG; A<b&; : G 4:@ AB( FHG c(6A7&4AR A<54:'V1 
b&; DpPR O T R OP P X f 4D)4: 7&8 4)4: ,56BCB^5 @ 4Y#H4c 4@ BC4)? N :4@ A4)c(4@ 8 4: 4
 A G6? 8 @ 4: 9 AJ
5 4:b&@ 4:‘b&4: 5 aFHG 8 @ J4A3#C9f 4A<c(; G = A@ FHG8>69BC: 4@ FHG4A<c N: 5 4A+R6
c 9: 5 4BC4@ A<"; : J4BC48 _C8 4: ,€ A A4A D)@ A @ BC8 4:g.C6A 8 G 4: ,c(@ = 5R:b&4: = 6A J8 4
b&; A<2 6FHG 4: 8>= 698('+/ 0 b&; D T R O T R OP P X qA @ FHG 8
9 Ab&; : 4@ AJ 4A; D)D)4A
_C9<4: D)@ 8 8 4= A ,BC; A5 4: A<= @ 4f4:5@ 4"; : c N: ? 4J 4J4A<5 @ 4)b&@ 4:
A 6FHG _C9f 4BCBC4: A+R q
-& " <h 0 ‚>A5<BC;7&6Dp4B^69FHG<_C9 DE: ; _C4BCB!R- : 69< A FH4,5@ 4
9 8 8 4:5 4:‘b&4: f : 6A A8 4A3.H@ A5 4: ,c(9 : 54)b&; A<54A345 @ 4A<_C9 :g- : 69
5 4B^h6G : 4B^J 47&N: 8 ,54:D)6A<5 6: 69? G@ A‚9A D)j J= @ FHG<4@ A4A3- : 4@ BC` : 9FHG
5 4:9 ABCFHG 9= 5@ J4A<h9A JB(q_C9 D)98 4Aq
7&; A A8 4R @ 4'4= 8 ` : 4BCBC4
7&; A A8 4b&; A<5 4A<qf j BC4Aq
4A 4A<f4@ 5 4A<549 8 BCFHG 4A34ABCFHG 4A
A 6FHG<o 454Dƒ"4: G6A5 = 9 AJ BC8 6J<f4: @ FHG8 4A+R4AA ; FHG<= @ 4?54:%: ; _C4BCB
A @ FHG 8>BC; ,c(@ 4BC@ FHG<56B^b&@ 4= = 4@ FHG 80 4: :‹.H6A8 G4: ,; 5 4:f 4BCBC4: ,
5 4:@ BC: 64= @ BCFHG 4; BCBC65<J4c NA BCFHG8>G a8 8 4AR€ <#H%0^ .H

6FHG<54A<c @ 5 4: : 9? 4A4A<4BC8 aA 5A @ BCBC4A<J 4BC8 6A5<5 4:"4: 5 aFHG 8 @ J4
6: 7&9B
6: 8 D)6AA<4: A 498HR 4@ A<4BC8 aA5 A@ B^c 6:? 4@ A<BCa9 f4: = @ FHG<D)@ 8
FHG: 4@ fD)6BCFHG@ A4
6fJ 4? 6BCBC8>M@ A<5 4:2 4= = 4J 4BCFHG: @ 4f4A<9 A5<6A<5@ 4#C1& M 24@ 8 9 AJ<b&4: BCFHG @ FH7&8HR
'@ 4A 48 8HR9: ,6: 8 D)6AA<@ BC8>_C9<? 6BC8O w w : ; _C4A 8> "A6= ` G6f48 ,54B
FHG: 4@ f4A B^A @ FHG 8>D)aFHG 8 @ J+R„4G ; = ? 4A<c(@ = = @ GDp6f 4:69FHG<A @ 4D)6A5
G 6f 4A+R6: 8 D)6AA<5 9: ? 8 4)b&; :4: @ FHG8>b&; A<5 4A<6A 54: 4A‚ "A c(a= 8 4A<A@ FHG8
f 4? : 6J8>c 4: 54AR
? ? 4A f6:G 68 8 4)D)6A< "A JBC8 ,56BCB^4:J= 4@ FHG
_C9 BC6D)D)4A J4f : ; FHG4A
c a: 4R+f,9 A5<c 6B(6: 8 D)6A A<? N :BC4@ A<q4BC8 aA 5A @ BCq
b&4: BC` : ; FHG4A
c 9: 5 4,c(@ BCBC4A‚c(@ :A @ FHG 8R "f 4:5 4:g: ; _C4BCB(c(6: 8 48 4A ; FHG<D)@ 8>4@ A@ J4A
6A5 4: 4A<f 4: : 6BCFHG 9A J4A<69?CR„h45 4A? 6= = B(D)9BCBC8 45 4:g1 4@ 8 4:54:
: D)@ 8 8 = 9 AJ BC7&; D)D)@ BCBC@ ; A
b&; :4: @ FHG 8>_C9J 4f4A ,q5 6BCB(4B^@ DE#C9A 54BC7&: @ D)@ A 6= 6D)8A ; FHG<4@ A 4
"4: BCFHG = 9 BCBC67&8 4J 4f4,5 4: 4A< AG 6= 8>l BC8 : 4AJ<b&4: 8 : 69 = @ FHGlBC4@
9 A5<5 4BCG6= f‚c 454: "Ac a= 8 4A ,J4BCFHG c(4@ J4)54A A<54:Z
? ? 4A 8 = @ FHG 7&4@ 8 ,
_C9 JaAJ = @ FHG<J4D)6FHG8>c 4: 54A<7&j A A4R„ A G6= 8>5 4: "7&8 4A+U"4: 8 : 69 = @ FHG4
0@ A c(4@ BC46A5 4: 4:g#C4Gj : 5 4A<c(@ 45 4DE1 6A5 4BCM9A 5<54D
"4: ? 6BCBC9 AJ BCBCFHG9 8 _!R q
K )1 %%! "%#"1 "!!, T \R zR P [ , ROLR qš'@ 4BC;5N : ? 4A<q
C# 4c(4@ BC4q
b&; :4: @ FHG8>A @ FHG 8>4@ A J4f : 6FHG 8>c(4: 5 4Ar+54:G6A5 4= 8
4BBC@ FHG<9 DE; 7&9D)4A 8 4)Nf 4:5 @ 4)"4: c(@ FH7&= 9 AJ<b&; A<4G 4@ D)5 @ 4A BC8 4A r

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%
"9 ?o 45 4A3- 6= = 7&j A A8 4BC@ FHG<54:%; BCBC65 ,59 : FHG<5@ 4BCFHG 4@ A f6:
f 45@ AJ 9A JBC= ; BC4
0@ A J6f4)54:549 8 BCFHG 4A<4G4@ D)5@ 4ABC8 49 A5<5 4B^"4: ? 6BCBC9 AJ BCBCFHG9 8 _C4BC,
4: D)9 8 @ J8>J 4? N G= 8>G6f4A ,D)@ 8>5 4DE#C: 6A 56ABCFHG = 6J<6D T \R X R OP P [<69?5 @ 4
d&A6J; J 4@ A31 Nf 4FH7Œ? N:4@ A 4A30 j G 4`9 A7&8>6A8 @ 5 498 BCFHG4: "J@ 8 68 @ ; A
J 4BC; : J8>_C9<G 6f 4A+R "FHG<c 6B(c(a: 45 6B(? N :4@ A‚ ` 47&8 67&4= J4c 4BC4A,
c 4AA<5 4: d&A6J; J 4AM&#H: 6A5 6A BCFHG= 6J<4f 4ABC;`: ; f = 4D)= ; B^c @ 4)o 4A 4@ A
j = = A
9 A5< ; = @ AJ 4A<6f J4= 69 ? 4A<c a: 4R4A<'4= 8 D)45@ 4A<54: BC: 64= = ; f fd%: 6A A
f 4: 4@ 8 B^5 4:Œ048 _CBC` 4@ FHG 4= 59 : FHG<5@ 49 A5 c(@ A7&4= 6= B(BC@ 4)J4@ ? 4: A 5
69?5 @ 4Y&4@ FHGBC7&: @ BC8 6= = A6FHG8>b&; A3OP X zb&4: c(@ 4BC4A+Uq 6B^ "8 8 4A 8 68
b&; D T \R X R OP P [<69?5 6B(o N 5@ BCFHG4)4f48 BCG69B(G68 8 4c 4= 8 c(4@ 8> "9? BC4G4A
4: : 4J 8R qšK- "2,(O\R [R OP P \ , R T L+ "9FHG<= @ 4*4@ A 409A 54: 8 BCFHG6? 8
b&; A306: 8 7&4: AM& 4` `4A<A @ FHG 8>= 6AJ 469?›BC@ FHG<c(6: 8 4A<9 A5<5 4D); ABC8 : @ 4: 8 4
D)@ 8.H4: _C4A<@ A<54:%0 6A5<9 A5<5 4Dih95 4ABC8 4: A<69 ?54:%#H: 9 BC8J4J 4A
@ : J4A 5c 4= FHG 4; D)@ Aj BC4A<q6_C@ BCq R@ 4Y.H: j A 9A J<6= = 4:‡4G4@ D)5@ 4ABC8 M
#C: 6A 56ABCFHG = aJ4)BCFHG@ 4A<@ A31 N f4FH7%J4= 9A J4AR„'%#CV
%0 .H

"f 4:5 @ 4BCD)6= = @ 4?6= = 4B(J6A_(6A 54: B!R#C4: 4@ 8 B^4@ A4A<!6J<A6FHG<54D
"A BCFHG= 6J<= @ 4*54:4A4: 6= f 9A 54BC6Ac 6= 8>D)@ 8 8 4@ = 4A ,56BCB^4B(7&4@ A 4
0@ A c(4@ BC4
? N:4@ A 4!a8 4: BCFHG 6? 8>69 B^5 4DE4FHG8 4A31 6J 4:J af 4Rh9 54A ? N G: 4:
#C9f @ B(b&4: BCFHGc 6A 5<`= j 8 _C= @ FHG‚7&= 4@ A = 698>b&; A<5 4A3#H@ = 5 BCFHG@ : D)4A<9A 5
f 47&= 4D)D)4A 54) 8 @ = = 4)7&4G: 8 44@ A+R6A A<7&6Dp4B^A ; FHG‚BCFHG= @ D)D)4:? N :
 BC: 64= R('V1 D)4= 5 48 4)6DpPR [R OP P [ ,56BCB^69B(J4G 4@ D)4A< "7&8 4A<54:
#C9A 54BC6Ac 6= 8 BCFHG 6? 8>G4: b&; : J @ A J4,q 56BCB^5 @ 4Y : 6G8 _C@ 4G 4:5 4B^ "A BCFHG= 6J B
69?5 @ 4Y1 Nf 4FH7&4:‘ d&A6J; J 4b&4: D)9 8 = @ FHG<@ DE6G4A<+BC8 4A<BC@ 8 _C4AR q
'@ 454:4G4@ D)67&8 4A,5 @ 4)A@ FHG8>J 4j ? ? A48>c 4: 54A<5 9: ? 8 4AR DE; : 5 ? 6= =
#C6: BCFHG 4= b&4: A@ FHG8 48 4)54:"4: ? 6BCBC9A JBCBCFHG 98 _^6= = 44G 4@ D)67&8 4AR A< 6FHG4A
j = = A , ; = @ A J4A‚9 A531 N f4FH7%c(9 : 54A<5 @ 4) "7&8 4A<4@ A? 6FHG<A @ FHG 8>J4j ? ? A 48R
; FHG<A @ FHG 8>4@ A D)6= ? N:5@ 4= 69 ? 4A 54A‚4: @ FHG8 BCb&4: G6A5 = 9 AJ 4A+R "9 ?
"A ? : 6J4)f4@ 5 4:4A 4: 6= M#C9A 54BC6Ac 6= 8 BCFHG 6? 8 ,; f<69FHG<J 4J4A<5 4A
@ BC: 64= @ BCFHG 4A<4G4@ D)5@ 4ABC8; BCBC65<4: D)@ 8 8 4= 8>c(N : 54,5 4:o 6)_C9<54A
b&4: 5 aFHG 8 @ J4A
A 6G j BC8 = @ FHG 4A3 : 6G8 _C@ 4G 4: A<J4G j : 4,c(9 : 54)D)@ 8 J48 4@ = 8Uq @ 4: D)@ 8 8 = 9 AJ 4A
5 69 4: A<6A ,€BC@ 4)f4: N FH7&BC@ FHG 8 @ J4A<6= = 45 4A7&f 6: 4A3j J = @ FHG7&4@ 8 4AR q
"= BC;<BC8 4= = 8 4)54:%; BCBC65<? N:5@ 4k#C9A 54BC6Ac 6= 8 BCFHG 6? 8>6= B: 6G 8 _C@ 4G4:
4@ A4)54A 7&f6: 4j J = @ FHG7&4@ 8>56:&R€ ."#! >/ 0#"g.H)01‡ "D T R
6@OP P [<BC8 68 8 48 44@ A4)G; G 4h95 4A5 4= 4J 68 @ ; A<f 4@#H9 A5 4BC7&6A _C= 4:
.C; G= 69BCBC4: ` = 6AD)aBCBC@ J<4@ A4A3: @ A J= @ FHG 7&4@ 8 BCf4BC9 FHG<6fR
4= 4J 68 @ ; A BC8 4@ = A 4GD)4:
c 6: 4A< J A68 _œ#H9 f@ BC,54:? : 6A_Cj BC@ BCFHG4)h9 54A ? N G: 4:h46A3.H6GA<BC; c @ 4
5 4:69B.H6A656)4@ AJ 4? = ; J4A 44A 4: 6= BC47&: 48 a:5 4B^hN5 @ BCFHG 4A
'4= 8 7&; A J: 4BCBC,
 BC: 64= @ AJ 4:&R'6B(c(9 : 54)D)@ 8.C; G=mf 4BC`: ; FHG 4Ar+? ? @ _C@ 4= = G @ 4*
5 6B(!G4D)6Y- : 4D)54A ? 4@ A5 = @ FHG7&4@ 8R "f 4:? N:5@ 4BC4B^!G 4D)6)@ A
6= = J4D)4@ A4:
68 9 :J @ f 8>4B^7&4@ A4A<69* 4:`= 6A D)a* @ J4A3#C4BC9FHG BCJ: 9 A5RB^= @ 4J 8>A6G4,
5 6BCB(D)6A‚@ A< 6FHG4A< d&A6J; J 4AM&#H: 6A5<4@ A4Y@ A @ J 9A J<BC9FHG 8 4R.C; G=
c ; = = 8 4)@ De0 4: f BC8>54BCBC4= f4A<h6G : 4B‰c @ 45 4: J4c aG = 8>c 4: 54A ,6f 4:
5 @ 4)J4BC6D)8 4Y45@ 4AD)6FHG8>5 4: BC: 64= = ; ff dgG 68 8 4)@ G A<c(4J 4A<BC4@ A 4:
q "4: ? 4G = 9 AJ 4Aq
K '6= 5G 4@ D),(#C@ 8 f9 : J<9BCc<R L+f 4: 4@ 8 B^69?5 @ 4
"f BCFHG9 BCBC= @ BC8 4)J4BC48 _C8R€.C01'%#! "-ˆB^@ BC8>? 4: A<o 454:
'@ : 7&= @ FHG7&4@ 8 ,_C9<J = 69f 4A,b&@ 4:6BC; _C@ 6= 4˜#HN : BCFHGFHG 4A<Ga8 8 4A<9A J4BC4G 4A
5 9: FHG<4@ A4A<5 @ FHG 8 4A3; = @ _C4@ 7&; : 5; A<_C9 : d&A6J; J 4b&; : 5 : @ A J4A ,; = = @ B
c 4: ? 4A<9 A5<c @ 45 4:9 AJ 4BC4G4A<5 9: FHG<5 @ 4Y; = @ _C4@ : 4@ G4A<4A 8 7&; D)D)4A
7&j A A4AR
"= = 4ˆ d&A 6J ; J4A<BC@ A5<A aD)= @ FHG<b&; A<BC8 6: 7&4A3; = @ _C4@ 7&: a? 8 4A<: 9 A5<9 D
5 @ 4)G :f 4c(6FHG8HR€ @ 4b&@ 4:? 4BC8 J 4A; D)D)4A 4A<"4: 5aFHG8 @ J 4A, 8 4` G6A
'VR€@ FH;<!,(#C; : @ B0R M9A 5<9A 53 @ : 7#C,BC8 : @ 8 8 4A<o 45 4#C48 4@ = @ J9 AJ
6A<54De#H: 6A5 6A BCFHG= 6J<69?5 @ 4˜1 Nf 4FH7&4: d&A6J; J 46f+R6FHG<54D
#C4BC9FHG
5 4:G ; G4A<h95 4AM& 4= 4J68 @ ; A<f4@.C6A _C= 4:%0 4= D)98.C; G=m6D T R6@
OP P [qJ 4BC8 6A5 4Aq
5 @ 4)b&@ 4:%#H4BCFHG 9= 5@ J8 4A<q` = j 8 _C= @ FHG
9 A5‚9 A4: c 6: 8 48 q ,54A3#C: 6A 56ABCFHG = 6J<69 ?5@ 4 d&A6J; J 49 A5
? ; : 8 6A<c(9 : 54A<q A6Gj BC8 = @ FHG4˜ : 6G8 _C@ 4G 4: q
@ A<5 4A345@ 4A
A @ FHG 8>D)4G:4: c(aGA 8R% +%1BCFHG: @ 4f<@ A3:&R€OP – OP P [Uq
'6B^BC@ A5<BC; = FHG4ˆ4BC8 aA5 A@ BCBC4BCFHG ; A<c(4: 8 rsR R R5@ 4 9FHG 4A 6FHG<5 4A
: 6G 8 _C@ 4G4: A<5 4B^ "A BCFHG= 6J B^c @ : 5<@ AB1 44: 4= 69 ? 4AR q
>A5<BC@ 4G4
5 6,c 4:G a8 8 4)56B^J 456FHG8 ,b&; A<5@ 4BC4DE; D)4A 8>6A‚J 6= 8
#C9A 54BC7&6A_C= 4:
.C; G= J 4J4A Nf 4:5 4Di  M&0 4: 69BC? ; : 54: 4: FHG 6: ` @ A J<c(@ 454:6= B^5 4:
q f4BCBC4: 4q.C6A _C= 4: 7&6A5 @ 5 68>@ A<54A345 @ 4A<5 4: BC: 64= = ; ff dR
4= f BC8 b&4: BC8 aA 5= @ FHG‚J 4c(6AA3.C; G= 69FHG<5 @ 4)'6G = R€6FHG3.H; G = B
'@ 454: c 6G = ? 6A5<5 4:g: ; _C4BCB(J4J 4A<5@ 4b&@ 4:‘o 9A J4A31 49 8 4)c(4J 4A
q ? N A? ? 6FHG4A<b&4: BC9 FHG8 4A3; : 54B(@ A<!68 4@ AG 4@ 8>D)@ 8>BCFHGc 4: 4:
#C: 6A 5BC8 @ ? 8 9 AJ q
BC8 68 8HRq 6ˆ4B^7&4@ A4); fo 47&8 @ b&4A3#H4c 4@ BCD)@ 8 8 4=
9 A5<2 49J 4A<J@ f8 ,7&; D)D)8>54A<4BC8 aA 5A @ BCBC4A<5 4:5 : 4@‘0 69` 8 8 a8 4:
4A 8 BCFHG 4@ 5 4A5 4#C4549 8 9 AJ<_C9R2c 6:G68 8 4A< 8 4`G 6A<'VR9 A53@ FH;<
R@ G: 4
FHG9 = 5 f47&4A A8 A@ BCBC4 "A ? 6AJ3a: _^_C9 : NFH7&J 4_C; J4A3R R R+? ? 4AJ 4f= @ 4f 4A<@ BC8 ,
c ;<5 @ 4˜#H: 6A5 f4BCFHG = 49 A@ J4:G4: 7&6D)4A<9A 5<c(4:BC@ 4)G4: BC8 4= = 8 4, q
7&; D)D)4A 8 @ 4: 8 4Y ž'V1 6DEO X R [R OP P \5@ 4: ; _C4BCBCM&- 6: FH4J 4J4A<5 @ 4
b&@ 4:h9A JB(69 ? 4@ 8 4 T R„q 4: T T h6G: 4)6= 8 4Y @ : 7#!R ,5 4:
6= B(4@ A _C@ J 4:7&4@ A‚4BC8 aA5 A@ B^6fJ 4= 4J 8>G68 8 4,4: G@ 4= 8>c 4J4A3#C4@ G @ = ? 4
_C9 :g#C: 6A 5BC8 @ ? 8 9 AJ<4@ A4)h9 J4A 5BC8 : 6? 4b&; A‚_Cc 4@ h6G: 4A<9 A5<BC4FHG B
; A 68 4A3R R R 4: T \<h6G : 46= 8 4 8 4` G6A<'VR4: G@ 4= 8>4@ A4˜- : 4@ G4@ 8 BCBC8 : 6? 4
b&; A<b&@ 4: 4@ A G6= f<h6G : 4A+R4J 4A<5@ 4f 4@ 5 4A T w h6G : 46= 8 4A3aA A4:
@ FH;‚
R9 A53#C; : @ B0R M^Rc 9: 5 4A<h9 J4A 5BC8 : 6? 4A<b&; A<o 4c 4@ = B^5 : 4@
h6G : 4A<9A 5<A49 A3; A68 4A‚b&4: G aA J8HR q
K  'V1 !,(O\R [R OP P \ ,
R T Lˆ6FHG<J aA J@ J4:%: 6u&@ B^@ A<54:%#H9 A5 4BC: 4`9 f= @ 7 49 8 BCFHG = 6A5
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9 A5<A 6FHG<J aA J@ J4:%: 6u&@ B^A ; FHG<BCFHGa: ? 4:69 BC? 6= = 4A<D)NBCBC4AR0 @ 4:c 6:
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4BC8 aA 5A @ BCBC4
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G j FHGBC8 c(6G: BCFHG 4@ A = @ FHG<G6A5 4= 8 44B(BC@ FHG<5 6f 4@ 9Dp4@ A 4 ": 8>f 4BC; A5 4: 4:
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7&; D)D)4A<BC@ 4,c(@ 44: c aG A8 ,6A<5 4: 6: 8 @ J 4 `4_C@ 6= 8 4FHG A@ 7gJ 6:‡A@ FHG8
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5 4:9 8 6FHG8 4:= 6BCBC4A‚69? G; : FHG 4A+Ul 4:%0 69` 8 8 a8 4:@ BC8#H46D)8 4:
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9 A5<` ; = @ 8 @ BCFHG4A< A BC8 6A_C4A<BC@ A5 ,6= B^5 @ 4ˆ549 8 BCFHG 4A+R6B: J4f A@ BC,
5 @ 4)!a8 4:BC@ A5<@ Di 8 668 BC5@ 4ABC8>K 4G4@ D)5@ 4ABC8 L+_C9<BC9FHG 4A+R€#C4G69` 8 4A
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