H
[\QZNMM]QZMXSQYQQZ
_[QSMZWQXUVW[ZPQ]bUV^
E_UOT_UZSCUM_BB []SMZU^M_UQa[[][\QZNMM]QZ MXSQYQQZ_[QSMZWQXUVW[ZPQ]bUV^
;QYQQZ_Q5^_QZ 7[XXQSQaMZ 6 I C[^_N`^ )0' ,.)'5; 5^_QZ
8Q`]ZQ^QbQS ,.'05<<QXY[ZP F '+0)*0)(() 9 UZR[4\XM_[[%ZX
= bbb%\XM_[[%ZX
;9@99AF9 5EF9A
UZSQW[YQZ
42BC< '9C;8 %#$' 35B@56B F85=AE*9F5
>=F5@5B (-"+-"$'!$&&
' +1, %#$'
Z]%1 5RP%2
;QMOT_Q XQPQZ aMZ TQ_7[XXQSQ#SQMOT_Q TQQ]@M]_QZ^#
B\ ()V`ZUVX% [Z_aUZS UW`b N]UQRYQ_PMM]UZ `ba[[]SQZ[YQZ NQ^X`U_ !cMMWZ`YYQ]
)'(0''/*,*" [aQ][ZcQMMZa]MMS a[[]aQ]aMZSQZPQZUQ`bN[`baMZ B6E <Q_F[aQ]W]`UP% =Z
`b N]UQRSQQR_` MMZ PM_ <Q_F[aQ]W]`UP ZUQ_ UZMMZYQ]WUZS W[Y_ a[[]aQ]aMZSQZPQ
ZUQ`bN[`b QZ PQ^OT[[X PQ]TMXaQ aQ]bUV^_ZMM]TQ_ T`UPUSQ SQN[`b aMZ <Q_ ?[aQ]% B\ )(V`ZU VX% TQN UWUZ ]QMO_UQ [\ `b N]UQR^OT]UR_QXUVWYUVZ aQ]NMcUZSSQ`U_[aQ]PQ P[[] `SQW[cQZ
\][OQ^SMZS P[[]TQ_a[[]SQZ[YQZ NQ^X`U_QQ]^_ YQ_PQ ]MMP^O[YYU^^UQ _Q NQ^\]QWQZ
MXa[]QZ^PU_ YQ_ CUM_BB _Q NQ^\]QWQZ% B\),V`ZU )'(0 TQN UW_UVPQZ^QQZ NQ^_``]XUVW[aQ]XQS Y[ZPQXUZSQQZ ]QMO_UQ SQSQaQZ [\ `b NQ^X`U_% =WPUQZ YUPPQX^ PU_^OT]UVaQZ[[W^OT]UR_QXUVWQQZ cUQZ^bUVcQ UZ_QSQZ `ba[[]SQZ[YQZ NQ^X`U_%
5MZa]MMSaQ]aMZSQZPQ ZUQ`bN[`b
B\ *'VMZ`M]UVX% TQQR_ CUM_BBQQZ MMZa]MMS UZSQPUQZP a[[]aQ]aMZSQZPQ ZUQ`bN[`baMZ B6E
<Q_F[aQ]W]`UP UZ ?[aQ]N[^OT a[[] ()' WUZPQ]QZ% 7[ZR[]Y PQaQ][]PQZUZSa[[]cUQZUZSQZ T`U^aQ^_UZS [ZPQ]bUV^ !6UVXMSQ (# 8QQX5M]_UWQX 5%)HQ]aMZSQZPQN[`b" WMZaQ]aMZSQZPQ ZUQ`bN[`b TQ_SQa[XS cUVZaMZ QQZ _bQQ_MX ^U_`M_UQ^1
(% 8Q ^XQOT_Q O[ZPU_UQ !N[`bW`ZPUSQ^_MM_aMZ QQZ SQN[`b"#[R )% 9QZ TQ]^OTUWWUZS^[\Q]M_UQ%
#( " $)3.)'+4)'0/(,4,)
B\ NM^U^aMZ QQZ N[`bW`ZPUSQ]M\\[]_MSQ [\S][ZP aMZ A9A ).-. b[]P_aM^_SQ^_QXP [RQ]
^\]MWQ U^ aMZ aQ]aMZSQZPQ ZUQ`bN[`b% BY UZ MMZYQ]WUZS _Q W[YQZa[[]aQ]aMZSQZPQ ZUQ`bN[`b Y[Q_`U_PQO[ZPU_UQYQ_UZS NXUVWQZPM_ TQ_SQN[`bO[ZPU_UQ ,[R- TQQR_QZ TQ_
[ZPQ]T[`P [\ QQZ aQ]MZ_b[[]PQ bUVcQ TQQR_\XMM_^SQa[ZPQZ%
7[ZR[]Y PQ aQ][]PQZUZS a[[]cUQZUZSQZ T`U^aQ^_UZS [ZPQ]bUV^M]_UWQX .# TQNUWQQZ
N[`bW`ZPUSQ ]M\\[]_MSQXM_QZ [\^_QXXQZ a[[]<Q_F[aQ]W]`UPPUQ UW`P%P% (+ YMM]_ )'(0 TQN P[QZ_[QW[YQZ% =Z PQcQ]M\\[]_MSQ TQQR_` W`ZZQZ XQcQZ PM_ CUM_BB TQ_^OT[[XSQN[`b $ MX^
QUSQZMM]aMZ TQ_SQN[`b$ PQ MRSQX[\QZVM]QZ !_Q"S[QP TQQR_[ZPQ]T[`PQZ% <UQ]P[[] U^ TQ_
SQN[`b Z` Z[S UZ S[QPQO[ZPU_UQ%
CUM_BB
bMM]PQa[XXQYQFU^QZ%%%bMM]PQa[X[ZPQ]bUV^&
U65AZ]%A?..]MN[[U./[U+,)+
>H>9UZPT[aQZ(.)*+-0- CXM_BB^_MM_UZSQ^OT]QaQZNUVTQ_
@UZU^_Q]UQaMZ[Ob[ZPQ]Z`YYQ]6D=A+(/-'
,
[\QZNMM]QZMXSQYQQZ
_[QSMZWQXUVW[ZPQ]bUV^
9OT_Q]# [YPM_ TQ_SQN[`b *'VMM]SQXQPQZ MX^^QYU\Q]YMZQZ_ SQN[`b U^SQN[`bP# U^ PQ XQaQZ^P``] UZYUPPQX^]`UY aQ]^_]QWQZ% <Q_b[]P_ YQ_S[QP [ZPQ]T[`P QOT_Q]SQQZ
\Q]YMZQZ_QT`U^aQ^_UZS% 8Q XQQ]XUZSQZ aQ]PUQZQZ PM_ UZYUPPQX^bQX# \Q]YMZQZ_QT`U^aQ^_UZS%
=Za[[]YQXPQ ]M\\[]_MSQTQQR_`_QaQZ^W`ZZQZ XQcQZ PM_Q][\cQQ]W[]_Q_Q]YUVZ bQQ]
ZUQ`bQ# R[]^Q UZaQ^_Q]UZSQZ SQPMMZ Y[Q_QZb[]PQZ% =ZPQ _[QXUOT_UZS aMZ PQaQ][]PQZUZS NUV NUVXMSQ (# PQQX5%)# U^MMZSQSQaQZ PM_aQ]aMZSQZPQ ZUQ`bN[`bQQZ ]QXM_UQTQQR_YQ_
[ZPQ]T[`P QZ TQ_MMZ\M^^QZ aMZ TQ_^OT[[XSQN[`bbMM]a[[]TQ_ NQa[QSP SQcMS PQ
NQW[^_USUZS ]QOT_^_]QQW^aMZ PQ YUZU^_Q]aMZ B7I[Z_aMZS_% 8Q[ZPQ]T[`P^W[^_QZ PUQCXM_BB Y[YQZ_QQX TQQR_# cUVZT[[S QZ aQQX T[SQ]PMZPQaQ]S[QPUZS PUQ CXM_BBaMZ TQ_DUVW W]UVS_%
<Q_U^QQZ WQ`cQ aMZ CXM_BB[Y TQ_NUZZQZWXUYMM_a[[]PQ XQQ]XUZSQZc[ S`Z^_US Y[SQXUVW_Q XM_QZcUVZ QZPQ ^_MM_aMZ TQ_ SQN[`bSQQZ UZaX[QP _Q XM_QZ TQNNQZ [\PQ
[ZPQ]bUV^[\N]QZS^_QZ% 9QZ WQ`cQPUQQUSQZXUVW ZUQ_SQYMMW_ c[` T[QaQZ b[]PQZ P[[] CXM_BB%
=Z NQSUZ^QX TMP <Q_F[aQ]W]`UP MX aQQXQQ]PQ]\Q]YMZQZ_Q [ZPQ]bUV^T`U^aQ^_UZS Y[Q_QZ W`ZZQZ NQ_]QWWQZ UZ PU_a[QPUZS^SQNUQP%
B[W UZ TQ_ E<C U^SQO[ZOX`PQQ]P PM_ TQ_SQN[`baMZ <Q_F[aQ]W]`UP QQZ YM_USQ WbMXU_QU_
TQQR_% HQ]]M^_ !QZ PM_U^cMOT_ SQcQSP" NQZ UWPMZ [[WPM_` UZ `b N]UQRaMZ ()V`ZUVX%
O[ZOX`PQQ]_ PM_ TQ_ PU^O`_MNQX U^ [R<Q_F[aQ]W]`UP UZMMZYQ]WUZS W[Y_ a[[]aQ]aMZSQZPQ ZUQ`bN[`b% G [ZPQ]N[`b_ `b^_QXXUZSQZ PMM]_[Q SQQZ^cUZ^QZ XMMW_PMM]YQQcQXR^PQ P[[]
CXM_BB MMZSQP]MSQZ NQbUV^a[Q]UZS% <UQ]^OT]UW UWaMZ% G _]QQP_UYYQ]^[\ZMYQZ^TQ_SQTQXQ O[XXQSQ aMZ 6 I# aMZ`U_PQbQ__QXUVWQc[]S\XUOT_a[[]S[QPQ[ZPQ]bUV^T`U^aQ^_UZSa[[]PQ
^OT[XQZ UZ `bSQYQQZ_Q%
G aQ]bUV^_<Q_F[aQ]W]`UPa[[]_^ cQXR^ ZMM]TQ_ XQQSW[YQZPQSQN[`baMZ <Q_?[aQ]% 9QZ SQN[`b aMZ NUVZM +'VMM]# PQ Z[]YMXQ XQaQZ^P``]aMZ QQZ \Q]YMZQZ_^OT[[XSQN[`b% ;QcUQZ PQ XQaQZ^P``]aMZ TQ_SQN[`b WMZaQ]bMOT_b[]PQZ PM_Q]UZPQ ZMNUVQ_[QW[Y^_
UZaQ^_Q]UZSQZ NQZ[PUSP cUVZ[Y TQ_SQN[`b Z[S Y[SQXUVW )'VMM]_QW`ZZQZ XM_QZ PUQZQZ MX^
PQ`SPQXUVWQ T`U^aQ^_UZS% 8U_ NQ_QWQZ_bQXXUOT_PM_` aQ]bMOT_PM_ CXM_BBbQQ]SQXP $ PM_
NQ^_QYP U^a[[]TQ_[ZPQ]bUV^ $SMM_ NQ^_QPQZ MMZ QQZ SQN[`b% 8U_ U^ a[[]CXM_BB
[ZNQ^\]QQWNMM]% 8U_WXQY__Q YQQ][YPM_PQcQ [\_UQSQQZ `U_bQ]WUZS U^aMZ QZUSQ NQ^\]QWUZS PUQ CXM_BB YQ_` TUQ][aQ]TQQR_SQTMP UZ TQ_MRSQX[\QZVMM]QZ a[XXQPUS X[^^_MM_aMZ QXWQ MR^\]MMW PUQbQ YQ_ ` TQNNQZ SQYMMW_[aQ]PQ T`U^aQ^_UZSaMZ <Q_F[aQ]W]`UP% B[W_UVPQZ^
TQ_ NQ^_``]XUVW[aQ]XQS P%P% - YQU )'(0 [aQ][ZcQUZSQPUQZPQ MMZa]MMS U^ PQcQ Y[SQXUVWTQUP ZUQ_NQ^\][WQZ% Gb NQ^X`U_P[Q_PMZ[[WSQQZ ]QOT_MMZ PQ^U_`M_UQQZPQ
aQ]MZ_b[[]PQXUVWTQPQZPUQbQ [aQ]QZbQQ]ZMM]QXWMM]TQNNQZ%
#( !" %)/+)23'+,--,/*301)2&4,)
7[ZR[]Y PQ aQ][]PQZUZS WMZ aQ]aMZSQZPQ ZUQ`bN[`b[[WMMZ PQ []PQcUVZbMZZQQ]Q]^\]MWQ U^ aMZ QQZ TQ]^OTUWWUZS^[\Q]M_UQ% =ZPQaQ][]PQZUZS !6UVXMSQ (# 8QQX5M]_UWQX 5%)HQ]aMZSQZPQ N[`b" ^_MM_MMZSQSQaQZbMZZQQ]QQZ TQ]^OTUWWUZS^[\Q]M_UQcUOT WMZ a[[]P[QZ1
CXM_BB
bMM]PQa[XXQYQZ^QZ%%%bMM]PQa[X[ZPQ]bUV^&
#(*3 4
[\QZNMM]!QZ!MXSQYQQZ
_[QSMZWQXUVW![ZPQ]bUV^
6Qa[QSPQ!SQcMS^[]SMZQZ!W`ZZQZ![aQ]QQZW[YQZ![Y!^OT[[XSQN[`bQZ!_Q!]`UXQZ![YPM_!U^! aM^_SQ^_QXP!PM_!Q]!a[XP[QZPQ!OM\MOU_QU_!a[[]!TQ_!T`U^aQ^_QZ!aMZ!PQ!XQQ]XUZSQZ!NQ^OTUWNMM]! U^#!YMM]!PM_!TQ_!QZQ!^OT[[XSQN[`b!QQZ![aQ]YMM_!MMZ!OM\MOU_QU_!TQQR_!QZ!TQ_!MZPQ]Q!
^OT[[XSQN[`b!QQZ!_QW[]_!MMZ!OM\MOU_QU_%!8[[]![ZPQ]XUZSQ!]`UX#!QaQZ_`QQX!UZ!]QXM_UQ!YQ_! aQ]aMZSQZPQ!ZUQ`bN[`b!WMZ!QQZ!QRRUOUfZ_Q!NQcQ__UZS!aMZ!PQ!^OT[[XSQN[`bQZ!b[]PQZ! SQ]QMXU^QQ]P%
:`^UQ^!aMZ!^OT[XQZ!W`ZZQZ!MMZXQUPUZS!cUVZ!a[[]!QQZ!TQ]^OTUWWUZS^[\Q]M_UQ![YPM_!QQZ!R`^UQ! [\!^OT[[XZUaQM`![[W!SQa[XSQZ!TQQR_!a[[]!PQ!XQQ]XUZSQZ^_][YQZ#!bMM]P[[]!P[[]!QQZ!
NQ\Q]W_Q!`U_N]QUPUZS!!3!aQ]aMSQZPQ!ZUQ`bN[`b"!aMZ!TQ_!QZQ!^OT[[XSQN[`b!TQ_!MZPQ]Q!
^OT[[XSQN[`b!WMZ!b[]PQZ!MRSQ^_[_QZ2
HQ]aMZSQZPQ!ZUQ`bN[`b!WMZ!aQ]NMZP!T[`PQZ!YQ_![Z_bUWWQXUZSQZ!UZ!PQ!]`UY_QXUVWQ! []PQZUZS#!MX^!SQa[XS!aMZ!NUVa[[]NQQXP!^_MP^aQ]ZUQ`bUZS#![R!TQ_!TQ]UZ]UOT_QZ!aMZ!QQZ!bUVW#! bMM]a[[]!TQ_!Z[[PcMWQXUVW!U^!PM_!TQ_!NQ^_MMZPQ!^OT[[XSQN[`b![R!PQ!NQ^_MMZPQ!
^OT[[XSQN[`bQZ!aQ]aMZSQZ!b[]P_&b[]PQZ%
CXM_BB!cUQ_!TQ_!E<C!QZ!PQ!\XMZZQZ!PUQ!PMM]`U_!a[XSQZ!MX^!QQZ!TQ]^OTUWWUZS^[\Q]M_UQ!c[MX^! NQP[QXP!UZ!PQ!aQ][]PQZUZS!QZ!TUQ]N[aQZ!U^!NQ^OT]QaQZ%!BZcQ!MMZa]MMS!a[[]!aQ]aMZSQZPQ! ZUQ`bN[`b!aMZ!<Q_!F[aQ]W]`UP!U^!$!YQ_!`U_c[ZPQ]UZS!aMZ!PQ![YaMZS!$!UZ!XUVZ!YQ_!TQ_!E<C%! B[W!UZ!TQ_!E<C!U^!a[[]!PQ!ZUQ`bQ!bUVW!?[aQ]N[^OT!aQ]aMZSQZPQ!ZUQ`bN[`b!a[[]!QQZ! [\QZNM]Q!^OT[[X![\SQZ[YQZ%!G!SQQR_!QOT_Q]!UZ!`b!N]UQR!P%P%!((!V`ZU!)'(0!MMZ!PM_!Q]!SQQZ!
^\]MWQ!U^!aMZ!TQ]^OTUWWUZS^[\Q]M_UQ![YPM_!Q]!^XQOT_^!a[[]!eeZ!^OT[[XSQN[`b#!ZMYQXUVW!<Q_! F[aQ]W]`UP#!aQ]aMZSQZPQ!ZUQ`bN[`b!b[]P_!MMZSQa]MMSP%!BYPM_![ZcQ!MMZa]MMS!a[[]!
aQ]aMZSQZPQ!ZUQ`bN[`b!UZ!X[OM_UQ!?[aQ]N[^OT!]QOT_^_]QQW^!W[Y_!`U_!TQ_!E<C#!XUVW_![Z^!PM_!Q]! QOT_Q]!bQX!PQSQXUVW!^\]MWQ!U^!aMZ!QQZ!TQ]^OTUWWUZS^a]MMS^_`W!PUQ!aQ]NMZP!T[`P_!YQ_!PQ! [Z_bUWWQXUZS!UZ!PQ!]`UY_QXUVWQ![]PQZUZS%!5XXQ!NM^U^^OT[XQZ!UZ!5^_QZ!$!YQ_!`U_c[ZPQ]UZS!aMZ!8Q!
<[]Uc[Z!$!YMWQZ![ZPQ]PQQX!aMZ!PQ!TQ]^OTUWWUZS^[\Q]M_UQ!bQXWQ!SQa[XSQZ!TQQR_!a[[]!PQ! XQQ]XUZSQZ^_][YQZ!NUZZQZ!TQQX!5^_QZ%
CXM_BB!U^!PQ]TMXaQ!aMZ!YQZUZS!PM_!c[bQX!PQ!_QOTZU^OTQ!^_MM_!aMZ!TQ_!SQN[`b!MX^!TQ_!RQU_!PM_! Q]!^\]MWQ!U^!aMZ!QQZ!TQ]^OTUWWUZS^[\Q]M_UQ!UZ!5^_QZ#!PQ!MMZa]MMS!a[[]!aQ]aMZSQZPQ!
ZUQ`bN[`b!a[[]!<Q_!F[aQ]W]`UP!]QOT_aMM]PUS_%!=Z!TQ_!NQ^_``]XUVW![aQ]XQS!P%P%!-!YQU!)'(0!U^! aMZ`U_!PQ!SQYQQZ_Q![[W!ZUQ_!SQ^\][WQZ!PM_!<Q_!F[aQ]W]`UP!SQQZ!]QOT_!c[`!TQNNQZ![\! aQ]aMZSQZPQ!ZUQ`bN[`b%!FUVPQZ^!PU_![aQ]XQS!U^!^XQOT_^!SQ^\][WQZ![aQ]!bQXWQ![YaMZS!a[[]!
<Q_!F[aQ]W]`UP!Z[PUS!U^%!Gb!a[[]SQZ[YQZ!NQ^X`U_!PM_!<Q_!F[aQ]W]`UP!SQQZ!aQ]aMZSQZPQ! ZUQ`bN[`b!W]UVS_#!aQ]NMM^_![Z^!PMZ!QOT_!_QZ!cQQ]^_Q%
'+ ($ + ("#*!%))&
AMM^_!PM_!`!UZ!`b!N]UQR!P%P%!()!V`ZU!)'(0!MMZSQQR_!PM_!<Q_!F[aQ]W]`UP!ZMM]!`b![[]PQQX!SQQZ! ]QOT_!TQQR_![\!aQ]aMZSQZPQ!ZUQ`bN[`b#!SQQR_!`![[W!MMZ!PM_!<Q_!F[aQ]W]`UP!]QOT_!TQQR_![\! QQZ![YaMZS!aMZ!/*!XQQ]XUZSQZ!!TQ_!MMZ_MX!SQ\][SZ[^_UOQQ]PQ!XQQ]XUZSQZ!UZ!)'*'"!QZ!ZUQ_![\!PQ! SQa]MMSPQ![YaMZS!aMZ!()'!XQQ]XUZSQZ%
/;2B..
2%%/&'1.++'
!,'-0'-!!!
!2%%/&'1.+
!.-&'/2()0$
[\QZNMM]QZMXSQYQQZ
_[QSMZWQXUVW[ZPQ]bUV^
8QMMZa]MMS PUQCXM_BBTQQR_ UZSQPUQZP# U^`U_SQSMMZaMZ ()' XQQ]XUZSQZ% <Q_MMZ_MX
XQQ]XUZSQZ bMM]a[[]CXM_BB aQ]aMZSQZPQZUQ`bN[`b TQQR_MMZSQa]MMSP U^ YQQ]PMZbMM]PQ
\][SZ[^Q^[\ NM^U^aMZ PQ T`UPUSQ^U_`M_UQ aMZ`U_SMMZ% ;QXQ_ QOT_Q][\ TQ_RQU_PM_ P[[]PQ TQ]^OTUWWUZSaMZ ^OT[XQZ PQ a[QPUZS^SQNUQPQZbUVcUSQZ QZ TQ_ RQU_PM_ TQ_[\QZNMM][ZPQ]bUV^
UZ 5^_QZMMZ TQ_S][QUQZ U^# U^QQZ[YaMZS aMZ ()' XQQ]XUZSQZ ZMM]YUVZ [[]PQQX
SQ]QOT_aMM]PUSP% 6[aQZPUQZ SMMZ PQ\][SZ[^Q^ bMM]PQ SQYQQZ_QcUOT [\ NM^QQ]_`U_aMZ PQ T`UPUSQ ^U_`M_UQ% 8[[]QOT_Q] PQaQ]\XMM_^UZSaMZ PQPUaQ]^Q^OT[XQZ UZ5^_QZ# bUVcUSQZPQ a[QPUZS^SQNUQPQZQZ PQ]TMXaQPQXQQ]XUZSQZ^_][YQZ% <Q_ U^PMM][Y ZUQ_ ]QMXU^_U^OT[Y PQ [YaMZS aMZPQ ZUQ`bQSQN[`bQZ_Q NM^Q]QZ [\PQ T`UPUSQ \][SZ[^Q^bMM]NUVb[]P_
`U_SQSMMZ aMZ NQT[`PaMZ MXXQ NQ^_MMZPQ ^OT[XQZ UZ5^_QZ$B[^_% 8M_U^ UYYQ]^ZUQ_MMZPQ []PQ% <Q_[\TQRRQZaMZ NM^U^^OT[[X <Q_?[aQ]TQQR_ SQa[XSQZa[[]TQ_ MMZ_MX XQQ]XUZSQZ[\ <Q_
F[aQ]W]`UP%
)5B 35>>@45;5=D2=45 22=D@275=D@227B>< 8=B57@2;8B58B
8[[]PQ `U_a[Q]UZS aMZ TQ_E<CaQ]MZPQ]_ a[[]aQQX ^OT[XQZ TQ_a[QPUZS^SQNUQP% 8U_ TQQR_PQ Z[PUSQQRRQO_QZ [\PQ XQQ]XUZSQZ^_][YQZ UZ PQ _[QW[Y^_% J[MX^ NUV ` NQWQZPQZ YQQ]PQ]Q WQ]QZ YQ_ ` U^ NQ^\][WQZ !a[[]TQ_QQ]^_P%P% (/ [W_[NQ])'(/"QZ ^OT]UR_QXUVWNQaQ^_USP !N]UQR P%P% , Z[aQYNQ])'(/" TQQR_ CXM_BB NQ^X[_QZ [Y 8Q <[]Uc[Z UZ5^_QZ IQ^__QNQT[`PQZ% <Q_
aQ]\XMM_^QZ aMZ QQZ ^OT[[Xa]MMS_ [Y UZ^_QYYUZS aMZ PQ @D% <Q_ NXUVW_PM_ PQ @DaMZ 8Q
<[]Uc[Z ZUQ_cMX UZ^_QYYQZ YQ_ TQ_aQ]\XMM_^QZaMZ PQ^OT[[X ZMM]5^_QZ B[^_MMZSQcUQZ PQ
<[]Uc[Z QQZ S[QPQ^OT[[X U^# YQ_S[QPQ ]Q^`X_M_QZ QZ QQZ SQc[ZPQ[YaMZS% 9]U^SQQZ QZWQXQ ]QPQZ [Y PQcQ ^OT[[X_QaQ]\XMM_^QZ ZMM]QQZ MZPQ]Q X[OM_UQ UZQQZ MZPQ]PQQX aMZ 5^_QZ%
J[MX^ `U_TQ_[ZPQ]c[QWaMZ HBE&566P%P% )0[W_[NQ])'(/ U^SQNXQWQZ# QZ c[MX^`cQXR[[W Y[ZPQXUZS TQQR_NQaQ^_USP# WUQcQZ [`PQ]^[[Wa[[]MX a[[]^OT[XQZ _T`U^ZMNUV% <Q_U^PMZ [[W ZUQ__Q aQ]bMOT_QZ PM_QQZS][[_ PQQXaMZ PQ [`PQ]^`U_5^_QZIQ^_c`XXQZ WUQcQZ a[[]PQ
^OT[[X UZ 5^_QZ B[^_%
6UV PQNQ[[]PQXUZS aMZ `bMMZa]MSQZ T[`P_ ` Q]QOT_Q]SQQZ ]QWQZUZS YQQPM_[`PQ]^ aQQXMX a[[]QQZ ^OT[[X_T`U^ZMNUV WUQcQZ% CXM_BB YU^_ PQ[ZPQ]N[`bUZS [\ S][ZP bMM]aMZ SQ^_QXP WMZ b[]PQZ PM_MXXQ[`PQ]^ `U_5^_QZ$A[[]PbQ^_# IQ^_QZ J`UPbQ^_ WUQcQZa[[]PQZUQ`b_Q ]QMXU^Q]QZ ^OT[[XUZHM]QZP[ZOW% 6UV PQ \XMZa[]YUZSaMZ PQcQ ZUQ`bQ NM^U^^OT[[X UZ
HM]QZP[ZOWPUQZ_` YQ_ 8Q <[]Uc[Z $SQXQSQZ UZ TQ_cQXRPQ a[QPUZS^SQNUQP $ ]QWQZUZS _Q T[`PQZ% @UPPQX^PQcQ N]UQRYMWQZ bUV PMZ [[WNQcbMM]_QSQZ `b a[[]SQZ[YQZ NQ^X`U_[Y UZ HM]QZP[ZOWQQZ ^OT[[X_Q]QMXU^Q]QZ YQ_ QQZ[YaMZS aMZ )-- XQQ]XUZSQZ% G W`Z_QZ YMS TQ_
NXUVaQZ a[[]_NQ^_MMZ aMZ 8Q <[]Uc[Z [\ PQ T`UPUSQ X[OM_UQ ZUQ_ZQSQ]QZ
CXM_BB bUX NQP]`WWQZPM_ TQ_ NQXMZS]UVW U^[Y MXXQ MMZa]MSQZ UZcUVZ _[_MXU_QU__Q NQ[[]PQXQZ QZ ZUQ_MX^ ^[XU_MU]Q MMZa]MMS% 8Q TQ]^OTUWWUZS aMZ [ZPQ]bUV^T`U^aQ^_UZS UZ5^_QZ P[QVQ UYYQ]^
ZUQ_QXWVMM]% J[MX^SQcQSP# bUVcUSQZ PQa[QPUZS^SQNUQPQZ QZ PQXQQ]XUZSQZ^_][YQZ ZM PQ aQ]\XMM_^UZS aMZ PQ^OT[XQZ% H[[]W[YQZ Y[Q_b[]PQZPM_ Q]^_]MW^UZ 5^_QZ$IQ^_QQZ [aQ]^OT[_MMZ OM\MOU_QU_U^QZ UZ 5^_QZ$B[^_V`U^_QQZ _QW[]_% =W a[[]cUQQOT_Q]PM_ YQ_PQ P[[] TQ_O[XXQSQ aMZ 6 IUZSQcQ__Q XUVZP[[]TQ_a[[]SQZ[YQZNQ^X`U_# PU_ TQ_SQaMXcMX cUVZ%
8QXQQ]XUZSQZQZ T`Z [`PQ]^# UZb[ZQ]^aMZ 5^_QZ# cUVZ PMM]YQQ ZUQ_ SQPUQZP%
CXM_BB
bMM]PQa[XXQYQZ^QZ%%%bMM]PQa[X[ZPQ]bUV^
$"*3+6
[\QZNMM]QZMXSQYQQZ
_[QSMZWQXUVW[ZPQ]bUV^
<Q_ O[XXQSQ aMZ 6 I TQQR_ PQ bQ__QXUVWQ c[]S\XUOT_ a[[] PQ a[[]cUQZUZS UZ PQ`SPQXUVWQ
[ZPQ]bUV^T`U^aQ^_UZS a[[] PQ ^OT[XQZ SQXQSQZ UZ PQ SQYQQZ_Q 5^_QZ% @Q_ `b ^OT]UVaQZ P%P% () V`ZU )'(0 TQN UW aQQX Y[QU_Q [Y _Q cUQZ [\ bQXWQ bUVcQ ` PUQ c[]S\XUOT_ ]UOT_UZS CXM_BB QZ PQ
XQQ]XUZSQZ [\ PQ ^OT[XQZ aMZ CXM_BB MMZ TQ_ UZa`XXQZ NQZ_% =W aQ]c[QW ` PQ]TMXaQ [Y [ZcQ MMZa]MMS [\ZUQ`b _Q NQ[[]PQXQZ bMM]NUV ]QWQZUZS b[]P_ SQT[`PQZ YQ_ [ZcQ M]S`YQZ_QZ UZ PQcQ N]UQR QZ PQ MR^\]MWQZ PUQ bUV _UVPQZ^ TQ_ NQ^_``]XUVW [aQ]XQS P%P% - YQU )'(0 YQ_ QXWMM]
SQYMMW_ TQNNQZ%
=ZPUQZ SQbQZ^_# NQZ UW MX_UVP NQ]QUP [Y PQcQ N]UQR Y[ZPQXUZS _Q W[YQZ _[QXUOT_QZ%
@Q_ a]UQZPQXUVWQ S][Q_#
5%@%6% @M]_QZ^
7[XXQSQ aMZ 6Q^_``]
>[\UQ1 ]MMP^O[YYU^^UQ N`]SQ]^
/;2B..
E22@45D>;;5 <5=A5=!!! E22@45D>; >=45@E89 A"
<RQgUh
>?5=322@ 5= 2;75<55=
B>572=:5;89: >=45@E89A 8Q`]ZQ^QbQS(*#,.'05<<QXY[ZP
;9@99AF9 5EF9A
UZSQW[ZUQZ
# ' +1, %#$'
dKaG bLLL
/;2B..
3 E22@45D>;;5 <5=A508!!! E22@45D>; >=45@E89A