(
)&*+&),-./0
(
)01%0203')2)
46587:9;7=<>9 ?@5 ACBDEFB58G G 5IHKJ@DFL J@G ANM9;B5IHJOP9
QSRUTV@WXWY[Z\V@]^WX_`
abUTcdV@WfeXTghVjiUVlk_nm2V@b
oqpd]@m2rghV;i2V@e.s]@TV@bU]^V@eV^giUV^eQtV@]uR2bUTv`)mUV^e
wxhV@yUpdWfgXV@zFV@bgi|{~}b_nWXzPpgT`)mUViUVlk_nmUV@b
!
}sUs
zhV^rKU&n))2d)d)&2nUU
piUWXV^eXeXVlmUbUTcnV^WXeXV^rvrV2 ) ¡¢f££¤)¤)¤2¦¥d§S¨02§0©U£ªn©)2U
! #"
$%$'&()#*"'+, #"'-./"0(1324 5(687+-9:" !7 ;
<>=?< @(A%B:CEDGF4CHBJI:KMLONGCEPENQAERSRK)=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T= V
<>=XW YZNGPHAEBOF?[GA>DGF?CHB\R%A>D^]K_NQF4Ka`?`?K =T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T= b
<>=Xc @edgfOBOF4D]KUhiKaB^DjNQAE`4Kk=M=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T= b
<>=Xc=?< @ldgfOBOF?D^]KmA>NQF4DGnORk]K_DGF?of:KMK_Dp`?CEPHF?o^fOKq=M=T=T=T=M=U=T=M=T=T=M=T= b
<>=Xc=XW @ldgfOBOF?D^]KmI:KThiCHR%R%AEBOIOK =T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T= r
<>=Xc=Xc @sA%Rk]KaRCHF?NGKUhiKaB^DjNQAE`4Kt=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T= r
<>=Xc=vu @wKTx,f,[y=T=M=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T= z
<>=Xc=XV @ldgn:CENQ`?CEPEK{=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T= z
<>=vu @sKa[|CENGPHAEBOKa[pI}dvKaB^DjN]K_Ka[~+[jCENGDGF?Ka[ =T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=<_
<>=XV K_DGF4DnOF?[jDjCENQF o^f:K=M=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=<_
<>=XV=?< @wKa[|L,NGKaR%FK_NGKa[|RSAEhQnOF?BOKa[mAh_AE`?h_fO`4K_N =T=T=M=U=T=M=T=T=M=T=<_
<>=XV=XW @wKa[|CENIOF?BOA>DjKaf:N[L,NGCEPENQAER%R%A>x`4Ka[1=M=T=T=T=M=U=T=M=T=T=M=T=<E<
<>=XV=Xc @wKa[|CENIOF?BOA>DjKaf:N[L,NGCEPENQAER%R%A>x`4Ka[1=M=T=T=T=M=U=T=M=T=T=M=T=<E<
<>=XV=vu @wKa[|L,NGCEPEN_Ka[pR%A>No^fOAEB^DG[)=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=<E<
<>=XV=XV @wKa[|L,NGKaR%F4K_NQ[R%F hiNGCELONGChiKa[G[jKaf:N[ =M=T=T=T=M=U=T=M=T=T=M=T=<E<
<>=XV=Xb @wKa[|L,NGKaR%F4K_NQ[R%F hiNGC>CENQIOF?B,A>DjKaf:NQ[=M=T=T=T=M=U=T=M=T=T=M=T=<aW
<>=Xb @sKa[p[j[jD_KaRKa[I}dvKiL,`4CHF4DGA>DGF4CHByIOKa[CENQIOF?B,A>DjKaf:NQ[=T=M=U=T=M=T=T=M=T=<aW
<>=Xb=?< @wKa[pI,Fp]K_NGKaB^DG[D3^LKa[pIOKT[j[GDiKaR%Ka[I}dvKiL,`4CHF?DGA>DGF4CHB =T=M=T=<aW
<>= *fO`4DGF R9]KaIOF?AK_Dpn^^LK_NGDjKiDjK=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=<ac
<>=Xr )]Ka[jKaAEf,BDjK_NQBOK_D|K_D| =T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=<ac
<>=Xz @sKU`?AEB:PHA>PEKm p*@ =T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=<ac
<>=?<_@(A%B:CEDGF4CHBJI}dgAE`4PECENQF4DGn,RK¡=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=<aV
<>=?<E<k@(ALONGCEPENAER%R%A>DGF4CHB=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=<aV
<>=?<aW@sKa[pIOF4p]K_NGKaB^DjKa[phiCHfOhn:Ka[¢=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=<ab
£ ¤
1!,s¥O¥,§¦O$a¨H,
O©
W=?< @(A%[jDjNQf,hiDGf:NGKTI}dgfOB)L,NGCEPENQAER%RKTªAE[Gh_AE`«=T=M=T=T=T=M=U=T=M=T=T=M=T=<'
W=XW @(A%B:CEDGF4CHBJI:KM¬+A>NF?A>x,`4K%=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=<ar
W=XW=?< MK_PH`4Ka[I:KM#CENR%A>DGF4CHB\I:Ka[pF?I:KaB^DGF4®,h_A>DjKaf:NQ[)=M=U=T=M=T=T=M=T=<az
W=XW=XW @wKa[|D3^LKa[|IOKMx,AE[jKTK_Dp`?Ka[CEL¯]K_NQA>DGF4CHBO[°=T=T=M=U=T=M=T=T=M=T=<az
W=XW=Xc @wKa[phiCHB,[jDGAEBDjKa[±=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²WEW
W=XW=vu @sA%I¯]Kah_`?A>NA>DGF4CHBJI:Ka[|¬+A>NQF A>x,`4Ka[«=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²WEW
W=Xc @edvKie]Kah_f:DGF?CHB*I}dgf,B)LONGCEPENQAER%R%K =T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²WH
W=Xc=?< ByKiKaRL,`?KTI:KMLONGCEPENQAERSRKUªAE[Gh_AE` =T=T=M=U=T=M=T=T=M=T=²WH
W=vu @sKa[phiCHR%R%KaBDGAEF4NQKa[T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²WEz
W=XV @sKa[|!CHBOhiDGF4CHBO[ =T=M=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²WEz
W=XV=?< \]Kah_`?A>NA>DGF4CHB*IwdgfOB:KM!CHBOhiDGF4CHB\=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²c>
W=XV=XW @sF?[jDjKTIOKML,A>NQAERyK_DjNGKa[#CENRKa`?[¢=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²c>
W=XV=Xc @sAL,A>NQDGF4KTI]Kah_`?A>NQA>DGF4CHB,[ =T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²c<
W=XV=vu @wKTN]Ka[Gf,`4DGA>D =T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²c<
W=XV=XV ByKiKaRL,`?KTI:KM#CHB,hiDGF4CHB =T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²c<
W=XV=Xb pLOLKa`}I}dgf,B:KZ#CHBOhiDGF?CHB =T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²cEW
W=XV= :CHBOhiDGF4CHBO[pLON]KaI¯]K_®,BOF?Ka[y=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²cEW
W=Xb @edgF?BO[jDjNfOhiDGF4CHByAE`4DjK_NQB,A>DGF4¬EK =T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²cEW
W=Xb=?< @wKa[phiCHR%L,A>NQAEF?[jCHB,[=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²cEc
W=Xb=XW
]
¬>AE`?fOA>DGF4CHB\IOKa[KiL,NGKa[G[GF4CHB,[x/CCH` ]K_KaBOB:Ka[ =M=U=T=M=T=T=M=T=²cEV
W=Xb=Xc sKa[jDG[F?RmxONQF?of]Ka[S=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²cEV
W= @edgF?BO[jDjNfOhiDGF4CHByF4D]K_NQA>DGF4¬EK =U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²cEb
W=^=?< h_h_fOR fO`?A>DjKafON =M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²cEr
W=Xr @sKa[|DGA>x,`?KaAEf =T=M=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²cEr
W=Xr=?< @wKTD3^LKTF?B^DjK_NG¬>AE`?`4K =T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²cEz
W=Xr=XW \]Kah_`?A>NA>DGF4CHB*IOKa[DGA>x,`4KaAEfy=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²cEz
W=Xr=Xc JAEBOF?L,fO`?A>DGF4CHB)I:Ka[|DGA>x,`4KaAEf =U=T=M=T=T=T=M=U=T=M=T=T=M=T=uH
W=Xr=vu @wKTD3^LKThQn,A?B:Ka[|I:Kmh_A>NQAEhiDiK_NGKa[ =T=M=T=T=T=M=U=T=M=T=T=M=T=uW
W=Xz YZNGPHAEBOF?[GA>DGF?CHB\I:KT`?ARk]KaRCHF?NGK =T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=uEu
W=?<_ByKiKaRL,`4K !L,NGKa[Gof:KhiCHRL,`?K_D =T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=uV
¤
247,+¥,( !$a:"+ #7/0($%07
^$
¡(
$a/":" !70($%07
$ ;
u:=?< @sKa[phiCHB^¬EK_NQ[GF4CHB,[ =M=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²VEW
u:=?<>=?< @sA%hiCHB^¬EK_NQ[GF4CHB*I]Kah_F?R%AE`}KaB\x,F?BOAEF4NQK =T=T=T=M=U=T=M=T=T=M=T=²VEW
u:=?<>=XW @sA%hiCHB^¬EK_NQ[GF4CHBJx,F?BOAEF?NGKKaBJI]Kah_F?R%AE`=T=T=T=M=U=T=M=T=T=M=T=²VEc
u:=XW @(ANGK_LON]Ka[GKaBDGA>DGF4CHB*I:Ka[KaB^DGF4K_NQ[ =T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²V+u
u:=XW=?< pNQF?DGnOR9]K_DGF?of:K§]Ka`]KaRKaB^DGAEF4NGKUKaB\x,F?BOAEF4NQK =T=M=U=T=M=T=T=M=T=²V+u
u:=XW=XW ¯CHRL,`KaRKaB^D] ASW =T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²VEV
u:=Xc @(ANGK_LON]Ka[GKaBDGA>DGF4CHB*I:Ka[N]K_Ka`?[U=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²VH
u:=Xc=?< @sA%B:CENRKM
[Gf:NpcEWx,F?DG[ =U=T=M=T=T=T=M=U=T=M=T=T=M=T=²VEr
u:=vu @(ANGK_LON]Ka[GKaBDGA>DGF4CHB*I:Ka[|h_A>NQAEhiD_K_NGKa[=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²VEr
; ¤
$S 5s$a"'+&(¨E" !7/s$ ;
V=?< @edgAE[G[jKaRmx,`4Kaf:N =T=M=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²VEz
V=XW @sKa[pF?B,[jDjNQfOhiDGF4CHB,[%=M=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²VEz
V=XW=?< @wKa[pF BO[jDjNQfOhiDGF?CHBO[I:KMDjNQAEBO[j!K_NGDT=U=T=M=T=T=T=M=U=T=M=T=T=M=T=²b>
V=XW=XW @wKa[pF BO[jDjNQfOhiDGF?CHBO[I:KTh_AE`?h_fO`wA>NF4DGnORk]K_DGF?of:KS=M=U=T=M=T=T=M=T=²b>
¯K¯hiCHfONQ[ª[_dgAEI:NGKa[G[GKMAZI:Ka[T]K_DGfOIOF?AEB^DG[ªI:K¯LONGKaR%F4K_Nª[jKaRKa[GDjNGK¯IOKLONQKaR%F5K_NGKAEBOB]K_K
IOKU`?F?hiKaBOhiK I}dgF?B:!CENQR%A>DGF o^f:KE=`sB:K B]KahiKa[G[GF4DjKAEfOh_fOBJLON]KiNGKaofOF?[pKaBJF?B:!CENQR%A>DGF o^f:KE=
`A>x/CENI:K`4Ka[ªB:CEDGF?CHBO[(IOKx,AE[GK¯I}dgA>NhQnOF4DjKahiDGfONGK¯IOKa[(CENIOF?BOA>DjKaf:N[_I:K`dvCENGPHAEB,F?[GA>DGF4CHB
IOKa[|I:CHBOB¯]K_Ka[_I:KT`?ANGK_LON]Ka[GKaBDGA>DGF4CHB§I:Ka[|IOCHBOB]K_Ka[|K_DpIOKa[|F?BO[jDjNfOhiDGF4CHBO[_=
`¯A1AEfO[G[GFeL/CHfONmx,fODmI:K LON]Ka[jKaB^DjK_N%fOB:K)F?B^DjNGCI,fOhiDGF4CHBA§`?A*LONGCEPENQAERSR%A>DGF4CHB
F RL¯]K_NQA>DGF4¬EKTKaBJAE[Qh_AE`=,@wKa[B:CEDGF4CHBO[A>xCENQI¯]K_Ka[[jCHB^Dp`4Ka[|[Gf,F4¬+AEB^DjKa[
D8LKa[|I:KTx,AE[GK
[^]Kao^fOKaBDGF?AE` F4D^]K
A+/KahiDGA>DGF?CHB
#CHB,hiDGF4CHBO[
F?BO[jDjNfOhiDGF4CHB)AE`4DjK_NQBOA>DGF?¬EK
F?BO[jDjNfOhiDGF4CHB)F4D^]K_NQA>DGF4¬EK
DGA>x,`4KaAEf=
KmhiCHf:NQ[Ka[jDZAEh_hiKa[G[GF4x`4KU[Gf:N`?AS (CHF?`4K AEf\!CENQR%A>DG[! "sK_D#$&%(')+*-,-/.
10324*5678$24%/sAEfyAEI:NGKa[Q[jKa[|[GfOF?¬+AEB^DjKa[
:93;<;(=?>A@<@$B<B<BDCFE$G$HJILK<MNE$ODCPH"Q/ORITS(UD@FV/Q(WFXUFY[Z<@FEPMDS[YN\@3X/Y/KFU6]^IL=]
:93;<;(=?>A@<@$B<B<BDCFE$G$HJILK<MNE$ODCPH"Q/ORITS(UD@FV/Q(WFXUFY[Z<@FEPMDS[YN\@3X/Y/KFU6]^IL=D_(S
=
@sKa[DjNQAEBO[GL,A>NGKaB^DG[p[jCHB^D K_PHAE`4KaRKaB^DIOF [jLCHBOF4x,`4Ka[`]
:93;<;(=?>A@<@$B<B<BDCFE$G$HJILK<MNE$ODCPH"Q/ORITS(UD@FV/Q(WFXUFY[Z<@FEPMDS[YN\@/;[UDa$MN]P=bI&=N]
:93;<;(=?>A@<@$B<B<BDCFE$G$HJILK<MNE$ODCPH"Q/ORITS(UD@FV/Q(WFXUFY[Z<@FEPMDS[YN\@/;[UDa$MN]P=bI&=3_<S
=
`KaByKa[jDI:KUR KaRKTLCHf:N|`?Ka[KiK_Nh_F?hiKa[pI:KT c
:93;<;(=?>A@<@$B<B<BDCFE$G$HJILK<MNE$ODCPH"Q/ORITS(UD@FV/Q(WFXUFY[Z<@FEPMDS[YN\@/;<_I&=N]
:93;<;(=?>A@<@$B<B<BDCFE$G$HJILK<MNE$ODCPH"Q/ORITS(UD@FV/Q(WFXUFY[Z<@FEPMDS[YN\@/;<_I&=3_<S
=
²
s
@wKa[CENQI,F?BOA>DjKaf:NQ[[GCHBDpfODGF?`?F?[]Ka[LCHf:N
`4KMDjNQAEF4DjKaR%KaBDpIwdgF?B:!CENQR%A>DGF4CHBO[N
`4KT[jDjCh>A>PEK IwdgF?B:!CENQR%A>DGF4CHBO[a=
@wKU[Ghn]KaR%A%PH`?CEx,AE`}I}dgfOB:KTA>L,L,`?F?h_A>DGF4CHByF B:#CENR%A>DGF?of:KKa[GD|DjCHfjCHf:NQ[|`4KTR KaR%K
N]KahiK_L,DGF4CHB
IwdgF?B:!CENQR%A>DGF4CHBO[
DjNQAEF4DjKaRKaB^D
I:Ka[pF B:#CENR%A>DGF4CHBO[
]
KaRSF?[G[GF4CHB
I}dgF?B:!CENQR%A>DGF4CHB,[
I¯]KaIOf,F4DjKa[
!
- ª!
N]KahiK_LODGF4CHB§I:K"
¬>AE`4Kaf:N[B^fORk]K_NF?o^fOKa[
[jCHR%RKTIOKThiKa[#"
¬+AE`4KafONQ[K_DpIOF4¬F?[GF?CHB
IOf)N]Ka[QfO`4DGA>D|L,A>N$"
]
KaR%F?[Q[GF4CHByI:KT`?A
RCEKaBOB:K
A>NQF4DGn,R9]K_DGF?o^fOK
sCHf:DDjNQAEF4DjKaR%KaBDZI:KaR%AEBOI¯]K\AS` ASR%AEhnOF?B:KE/L,A>N`dgf:DGF?`?F?[QA>DjKaf:NaO[jK DjNQAEIOfOF?D|L,A>N
`dvKie]Kah_f:DGF4CHB*[^]Kao^fOKaBOh,]K_K I}dvCEL]K_NA>DGF4CHBO[ 5A>L,L/Ka`K_Ka[]
5s$_"+&(¨E" !7($
=
%'&(% )+*-,/.021.',436587/92.$:'92*#;<;-5
@ldvCEx=jK_DK_D`dgF?B^D^]K_N K_DZIOKm`?ASLONGCEPENQAER%RSA>DGF4CHB\Ka[jDZI:KmL/K_NRK_DjDjNGKUI:K [jL]Kah_F4®OK_N%A
f,B:KR%AEhQnOF B:KfOB§DjNQAa¬>AEF?`pA)KiKahiDGf:K_NUI:K5A?>hiCHB«AEf:DjCHR%A>DGF?of:KE=wCHf:NThiKa`?AyF `(5AEf:D
KaB*P(]KaB]K_NQAE` !CHf:NQBOF?NA `?ASR%AEhnOF?B:K `4Ka[¬+AE`?Kaf:NQ[pIOKa[LA>NQAER)K_DjNGKa[Mof:Km`dvCHB§A>LOLKa`?`4K
`?Ka[
07
^$
= B,[GfOF4DjK\`?A.R%AEhQnOF B:K\KiKahiDGf:K§IOKa[%CEL]K_NQA>DGF4CHB,[¡[GfONShiKa[¡IOCHBOB]K_Ka[
KaB [Gf,F4¬+AEB^Dmf,B9[Ghn]KaR%A I:K #CHB,hiDGF4CHBOB:KaRKaB^Do^fOF¯`?fOFAEf:NQA]K_D^]KJLON]Kah_F?[]KElh>dvKa[jDhiK
of:K`dvCHB1A>LOLKa`?`4KUf,B
+7,¥,+,-k-.
=
B:®,B*DjCHf:DMhiKah_FªB}dgA)I}dgF?B^D^]K_N K_DTof:KIOAEBO[Z`?A
R%Ka[Gf:NGKMCwf\` AR%AEhQnOF B:KM#CHfONQBOF4DI:Ka[
$'&(#"'O"'$
=
CHB,B]K_Ka[ lNGCEPENAER%RK )]Ka[Gf,`4DGA>DG[
<>=?< f:KUKiDjK_NQBOKUI}dgfOByR%F hiNGC>CENQIOF?B,A>DjKaf:Na=
%'& 92:$*#,61 * 021.', ;-* 05 9 155
en^[GF o^f:KaR%KaBD_,f,ByCENQIOF?B,A>DjKaf:N|[_dvCENGPHAEBOF [jKUAEf:DjCHf:NI}dgfOB:KTf,BOF4D^]KUhiKaB^DjNQAE`4KmofOF
hiCHBODGF4KaBDmfOB:K%fOBOF?D^]K%A>NF4DGnORk]K_DGF?of:K%K_DU`?CEPHF?o^fOKEwfOB:K%fOBOF?D^]K%IOKShiCHR%R%AEBOIOKEsI:K%`?A
Rk]KaR%CHF4NGKmhiKaB^DjNQAE`4K !CHfJL,NQF?BOh_F4LAE`4KCHf*KaBOhiCENGK F?B^DjK_NQB:K !¬ECHF4N®OPHf:NQKa[T<>=?<UK_D <>=XW =
(CHfO[ hiKa[lhiCHR%L/CH[QAEBDG[l[GCHBDªNGKa`?FKa[ªLA>NlfOB] x,fO[K_Dl[jCHB^Dlh_AEI:KaBOh,]Ka[lL,A>Nlf,B:K¯nOCENQ`4CEPEKE=
%'& )6,61 05 5,!0?92*(5
dvKa[jDM`dgfOBOF?D^]K hiKaBDjNAE`4Ko^fOFhiCHB^DGF4KaBDM`4K CHf1`4Ka[ZR%F?hiNGCEL,NGChiKa[Q[jKaf:NQ[_¬l]K_NQF?DGA>x,`4Ka[
hiK_NQ¬EKaAEf«I:K%`?AyR%AEhnOF?B:KE= dvKa[GDMKa`?`4K%ofOFKi/KahiDGf:K `4Ka[MCEL]K_NQA>DGF?CHBO[TI:KaR%AEB,I]K_Ka[ A
` A.R%AEhnOF?B:KE= Ka[SCEL]K_NQA>DGF?CHBO[)[jCHBD KiLONQF?Rk]K_Ka[¡PEN AEhiK¢A.fOB KafI}dgF?BO[GDjNQfOhiDGF4CHBO[a=
@sKB:CHRUx,NGK IwdgF?BO[jDjNQf,hiDGF4CHBO[I}dgfOB§R%F?hiNGCELONQChiKa[G[GKaf:NZKa[jDM`?F?R%F4D]KE= ¯Ka[MF?BO[GDjNQfOhiDGF4CHBO[
[GCHBD1[jCHF4D1I:Ka[§F?BO[jDjNQf,hiDGF4CHBO[]Ka`KaRKaB^DGAEF4NGKa[«CHf`?CEPHF?o^fOKa[_[jCHF?D*I:Ka[1F?BO[GDjNQfOhiDGF4CHBO[]
h_A>NAEhiD^]K_NF?[GAEB^DJ`4K1RCHf:¬EKaRKaB^DyI:Ka[)I:CHBOB¯]K_Ka[)KaB^DjNGK `?A.Rk]KaRCHF?NGK1K_D)`?Ka[¡CENQPHAEB:Ka[
IwdvKaBDjN]K_Ka[~+[GCENGDGF4Ka[_=
! " #%$'&()+*,
-/.10
)+*3245,
-
*6)7"&
-8-
*:9+;<=)7"&
-
@ldgfOBOF?D^]KMA>NQF?DGnOR9]K_DGF?of:KZK_D|`4CEPHF?of:KZDjNQAEF4DjKT`4Ka[I:CHBOB¯]K_Ka[|L/CHfON¯!CHf:NQB,F4N¯`?Ka[N]Ka[GfO`
DGA>DG[a=
` `4KKa[jDmhiCHB,[jDGF4DGf¯]K_K¡IwdgfOB:K%fOBOF?D^]K¡I:K%DjNQAEF4DjKaR%KaBD A>NQF4DGnORk]K_DGF?of:K 5AEI,IOF4DGF4CHB}
PHF o^f:K 5hiCHRL,A>NQAEF [jCHBO[K_D(CEL]K_NA>DGF4CHBO[ `4CEPHF?of:Ka[ = `?`?KeKa[jDªAE[G[jCh_F]K_KmAIOKa[(Rk]KaRCHF?NGKa[
[GL¯]Kah_F?AE`?F?[]K_Ka[IOAEBO[`4Ka[Gof:Ka`?`?Ka[[jCHBDpKi/KahiDGf¯]Ka[`4Ka[DjNQAEF?DjKaRKaBDG[pK_Dpof:KT`dvCHByA>LOLKa`?`4K
`?Ka[
¥ !$_"$
=
! " #%$'&()+*,
--
; 4 4 . (
-
@ldgfOBOF?D^]KI:K|hiCHR%R%AEBOIOKphiC^CENI:CHBOB:Kp`dvKaBO[jKaRmx,`4KI:Ka[lDAEhn:Ka[¯o^f:K|IOCHF4DlKiKahiDGf:K_N
`dvCENQIOF?BOA>DjKafONa=
`?`4KJKa[GD\hiCHRLCH[^]K_K«I}dvCENGPHAEB:Ka[yofOFI]KahiCI:KaB^DJ`4Ka[)F?B,[jDjNQfOhiDGF4CHB,[§A
KiKahiDGf:K_NK_D`4Ka[ DjNQAEBO[QRK_DjDjKaBDJA1`dgfOB,F4D^]K A>NQF?DGnOR9]K_DGF?of:KSK_D`4CEPHF?of:KE= `?`?KSKa[jDKaB
NQKa`?A>DGF4CHB)Aa¬EKahT` A Rk]KaR%CHF4NGKZLONQF?B,h_F4L,AE`4K|LCHf:N `?F4NGKCHf) KahiNQF4NGKTIOKa[¯F B:#CENR%A>DGF4CHBO[_=]
@edgfOBOF4D]KI:KhiCHR%R%AEBOI:K Ka[jDJ]K_PHAE`4KaRKaB^DTAE[G[jCh_F]K_KJA f,BJNGK_PHF [jDjNGKA>LOLKa`]K
+^¥/ !$_"'+
k !($_"'>&(¨E" !7
ofOF}hiCHBDGF?KaBDp` ALONGChQnOAEF?BOKZF BO[jDjNQfOhiDGF?CHB.AKie]Kah_f:DjK_N'=
! "! # . 45,
- 4 ; )
06- -
(=*
0 . 9 -
@sA%Rk]KaRCHF?NGKUhiKaB^DjNQAE`4KUKa[GDpIOF4NGKahiDjKaR%KaBD|NQKa`?F]K_K A%`dgf,BOF4D^]KUhiKaB^DjNQAE`4KTK_DhiCHBDGF4KaB^D
`?KMCHf\`4Ka[LONQCEPENQAER%RKa[mA%Kie]Kah_f:DjK_Na=
¤
247,+¥,, !$a:" !7/ 0§!.-
-.7/ #+
@sA)L,`?f,[ZL/K_DGF?DjKF B:#CENR%A>DGF4CHB of:K%`dvCHB1L,fOF [G[jKR9]KaRCENQF?[GK_NTCHf«R%AEBOF?L,fO`4K_NKa[jD
A>L,L/Ka`K_K ]
#"
5RCED¬+AE` F?[jKShiCHB^DjNQAEhiDGF4CHB I:K '5N%$$/ZK_DmNGK_LON]Ka[jKaB^DjK IOCHBOh%fOB
hnOFNGKx,F?B,AEF4NGK s\CHf< 5`4KShiCHfONQAEBD B:KL,AE[G[GK%L,AE[TCHf9`4K%hiCHf:NQAEB^DULAE[G[jK= B:K
Rk]KaR%CHF4NGK L/KafODpI:CHBOhK_DjNGK hiCHB,[GF?I¯]K_N]K_KhiCHR%RKfOBJAE[Q[jKaRUx`?A>PEK IOKUx,F4DG[hiCHBDGF?PHfO[_=
YMByA%`dgnOA>x,F?DGfOI:KZI:KTNGK_PENGCHfOL/K_N|`?Ka[x,F4DG[
DjCHf:DTI}dgA>xCENQI§L,A>NZPENGCHf:LKI:K%r x,F4DG[ZhiCHBO[]Kah_fODGF4![UhiK%o^fOF!CENQRKfOB
7}¨E"'^"
"'
KaB\AEB:PH`?AEF [_(AB:KTL,AE[phiCHB:#CHB,I:NGKTAa¬EKahUx,F4DN
b V u c W <
@wKx,F4DKaB¡LCH[GF?DGF4CHBS Ka[jD`4Kx,F4DIOKLCHF?IO[e!AEF?x,`4K|K_D`4Kx,F4DKaB¡LCH[GF?DGF4CHB TKa[jD
`4KMx,F4DI:KUL/CHF IO[¯#CENGD_=
KaBO[GfOF?DjK.LCHf:NJ5AEh_F?`?F?DjK_N§`4K9DjNQAEF4DjKaRKaB^D1K_D `dgAEI:NGKa[G[QA>PEKkI:Ka[§I:CHBOB¯]K_Ka[ of:K
hiCHBDGF?KaBD `?A\Rk]KaRCHF4NQKSCHB«NQK_PENGCHf:LKS`4Ka[MxF4DG[ML,A>N hiK¡of:KS`dvCHB«A>L,L/Ka` `4K%I:Ka[
-.7,"'$J-
-97 !+^$
=w@sAyDGAEF?` `4K%I}dgfOB RCED R9]KaRCHF4NGKSKa[jDUP]KaB¯]K_NQAE`4KaR%KaBDfOB:K
L,fOF?[Q[GAEBOhiKI:KpWHKa`?`?KhiCENQNGKa[jLCHBOIJAM`?AZDGAEF?` `4KIOf
&($
=K_DjDjK|DGAEF?`?`4KI:Ka[eRCEDG[
R9]KaRCHF4NGKa[p¬+A>NF4KT[GfOF4¬>AEB^D`?Ka[|R%AEhQn,F?B:Ka[K_Dp`?Ka[|hiCHBO[jDjNQf,hiDjKaf:NQ[_=
@sA\DGAEF `?`4KSI:Ka[ Rk]KaRCHF4NQKa[ !K_DAEfO[G[GFI:Ka[ F?B:!CENQR%A>DGF4CHBO[Uo^f}dvKa` `4Ka[UhiCHB^DGF4KaBOB:KaB^D
Ka[GD|KiL,NQF?Rk]K_KMKaBJf,ByhiK_NGDGAEF?B\B:CHRmxONGKTIwdvChiDjK_DG[-
F `4C^ChiDjK_Ds<ECt<}HW+u W <_¯ChiDjK_DG[
R9]K_PHA>ChiDjK_D w<UJC t<}>ur VH>b W ! <_"¯ChiDjK_DG[
PHF4PHA>ChiDjK_Ds<$#ZC t<}>cluW rEW+u W ! <_%ChiDjK_DG[
DjK_NQA>ChiDjK_D-w<T (C t<}HzEz V<aW bEV<sE>b W'&() <_*¯ChiDjK_DG[8
$%0 +/"'$%" l$%0*- -97 !+
`Ki:F?[jDjKUIOKaf D3^LKa[!CHBOIOAER%KaBDGAEf\I:KTRk]KaR%CHF4NGKa[#
`4Ka[Rk]KaRCHF4NQKa[
5pAEB,I:CHR h_hiKa[G[JKaRCENG JOR9]KaRCHF4NGKa[|¬ECH`?A>DGF?`4Ka[
¬F4¬EKa[ Cwf\[GCHBD|[jDjChl]Ka[Z`4Ka[LONGCEPENQAERSRKa[K_Dp`4Ka[IOCHBOB]K_Ka[pI:Ka[fODGF?`?F?[GA+
DjKaf:NQ[_=O@edgAEh_h+Ka[AShiKTD8LKUI:KTRk]KaRCHF4NQKTKa[jD|DjNaKa[pNQA>L,F?I:KE=
`4Ka[\Rk]KaRCHF?NGKa[
5|KaAEI YZBO`4\KaR%CENG pR9]KaRCHF4NGKa[JLK_NQ[GF?[jDGAEB^DjKa[
5B:CHB)¬ECH`?A>DGF?`?Ka[CHf1RCENGDjKa[ ofOF}hiCHB^DGF4KaBOB:KaB^DI:Ka[|I:CHBOB¯]K_Ka[|K_D|I:Ka[LONGC>
PENQAER%RKa[¡®OP]Ka[ DjKa`?[ o^f:K*I:Ka[¡hiCI:Ka[ I:K*h_A>NAEhiDiK_NQKa[)CHfI:Ka[¡LONGCEPENAER%RKa[
I}dvKiL,`4CHF4DGA>DGF4CHByIOKT`?AR%AEhQn,F?B:KE=
! " #
-
&
@wK)
&s$
Ka[jD¯fOB%h A>x,`4K)]Ka`?KahiDjNQF?of:KpI:CHB^D`4KpN CH`4KKa[jD¯I:K|DjNQAEBO[GL/CENQDjK_Ne`4Ka[eIOCHBOB]K_Ka[
IwdgfOByCENGPHAEB:K ¬EK_NQ[fOB\CHfJL,`?fO[QF4Kaf:NQ[AEf:DjNQKa[_= ¯Kmh A>x,`4KUKa[GDhiCHRLCH[]KI:KUL,` fO[GF4Kaf:N[
®`?[_ehnOAEo^fOK§®`|LCHf:¬>AEBD K_DjNGK R%F?[ AEf LCEDjKaB^DGF4Ka`ZB^fO`pCHfAEf LCEDjKaB^DGF4Ka`pLCH[GF?DGF43=
nOAEo^fOK®,`DjNQAEBO[GL/CENQDjKI:CHB,hfOBOKF?BO#CENQRSA>DGF4CHB¡ofOFLKaf:DeLONQKaBOI:NGKI:KafS¬>AE`4Kaf:NQ[J
%CHf«<>=
! " #%$'2;
0
9;<
-
@ldgn:CENQ`?CEPEK¯h_AEI:KaB,hiK` AphiCHR%R fOBOF?h_A>DGF?CHB)A`dgF?B^D^]K_NQF4Kaf:NªI:K`dvCENQIOF?BOA>DjKafONa= nOAEof:K
CENQPHAEB:KZKa[jDNGKa`?FK%] A`dgn:CENQ`4CEPEKZK_D!CHBOhiDGF4CHBOB:KZAEf)NGDGnORKZo^fwdvKa`?`4KZIOF?hiDjKE=:@wKZLONGChiKa[
[GKaf:NKiKahiDGf:KfOB:K F?BO[jDjNfOhiDGF4CHBkA hQn,AEo^f:KF?R%L,fO`?[GF?CHB}= B:KI:CHBOB¯]K_K L,`?AEh]K_K[Gf:NZ`4K
xfO[|B}dvKa[jDIOF?[jLCHBOF?x,`4KZo^f:KmLKaBOIOAEB^DpfOB
¨
¨^#
I}dgn:CENQ`4CEPEK 5fOBJhih_`4KmKa[jD`?ASIOf:N]K_K
ofOFO[]K_LA>NGKI:Kaf:F RL,fO`?[QF4CHBO[ => sCHfODjKpCEL]K_NQA>DGF4CHB Ka[jD¯I]KahiCHRLCH[GA>x,`4KpKaB¡fOBOK|[GfOF4DjK
IwdgF?BO[jDjNQf,hiDGF4CHBO[}A>DjCHR%F?of:Ka[_+hQnOAEh_f,B:KI}dvKa` `4Ka[wLONQKaBOAEBDsKiAEhiDjKaRKaB^D fOBUhih_`4K¯I}dgn:CENj
`?CEPEKE=
¯CHBO[GF?I¯]K_NQCHBO[_L,A>NKiKaRL,`?KE`dvCEL]K_NA>DGF4CHByo^f,FhiCHBO[QF?[jDjK%A AER%KaB:K_NfOB:KZI:CHBOB¯]K_K
IOK\`?A«Rk]KaRCHF4NQK/jf,[Go^fwdgAEf LONGChiKa[G[jKaf:N 5AEh_h>Ka[«A.` A1¬+AE`4KafONSI}dgfOB:K)¬>A>NQF?A>x,`?K= B
[QF?RL,`?F?®,AEBD¯fOByLKaf}:hiK_DjDjKUCEL]K_NA>DGF4CHB*[GKTI]KahiCHRLCH[jKmhiCHR%R%KU[GfOF4D
<>=p`4KyLONGChiKa[G[jKafON%L,`?AEhiKEl[GfON%`4Kyx,fO[_l`?K\B^fORk]K_NQC 5AEI:NGKa[G[GKI:K\`?A h_AE[jK*IOAEBO[
`?AEof:Ka`?`4KM[jKTDjNQCHf:¬EKU`?AI:CHB,B]K_K
W=p`4KThiCELONGChiKa[G[jKafON|PEKa[jDGF4CHBOB,AEF4NGKTI:KT`?A LONQKaBOIyhiKUBfOR9]K_NGCS[GfON|`4KMx,fO["
c=p`4KUhiCELONQChiKa[G[GKaf:NPEKa[GDGF4CHBOBOAEF4NQKUI:KU`?A¡ Z `?F4D|`4KmhiCHBDjKaBf1I:KU`?A¡h_AE[jKmI:CHB^D
F?`¬F4KaBD|IOKMNGKahiK_¬ECHF4N`dgAEI:NGKa[G[jKE,K_Dp`4KML,`?AEhiKT[Qf:N|`4KMx,fO["
u:=p`4KMLONGChiKa[G[jKafON|N]Kah_f:LwK_NGK `?AI:CHBOB¯]K_KU[Qf:N|`4KMx,fO[a=
B1P(]KaB]K_NQAE`s` A h_AEIOKaBOhiKSI:K`dgn:CEN`4CEPEKKa[jDTI:CHBOB¯]K_KKaB #Z !PHF4PHAEn:K_NQD=YZB
LA>NQ`4KEL,A>NKiKaR%L,`4KEI}dvCENQIOF?B,A>DjKaf:NQ[Z<QVl*EOhiKTofOF/[GF4PHBOF4®,Kof:KM`?AIOf:N]K_KMI}dgfOB
hih_`4KTKa[GDpI:K
!!!!!!
[jKahiCHBOI:KU[GCHF4D|GEEHb8[GKahiCHBOI:KE=
! #"%$'&)($*&,+.-0/1$2$43526%-051$879+.:<;=51-<:>$':<+?/131@BA$#3!+C"ED4+."B51$4"FAE34G$*HI;CD4$':>+C/131@BA$':J;K&E;CDML->"%$8$*35N&,->3!$
L+C/13N51$4"%3!->+."PO%$4:>:>$K$435'6%-051$Q"+C" 79+C:J;=51->:<$R3!->"%+."PS
@wKa[¡CENGPHAEB:Ka[ I}dvKaBDjN]K_Ka[ ~+[jCENGDGF4Ka[)[jK_NG¬EKaB^D«A«5AEF4NGKJhiCHR%R fOBOF o^f:K_N¡`?A«R%AEhnOF?B:K
A'¬EKah`4KRCHB,I:KeKiD^]K_NQF4Kaf:NªK_DªB:CEDGAER%RKaB^DA!CHf:NQBOF4NAp`?AR%AEhQnOF B:K`4Ka[(LONGCEPENAER%RKa[
K_D1`4Ka[*I:CHBOB¯]K_Ka[1I:CHB^D*`dvKie]Kah_f:DGF4CHBNGKaBOI:NA LCH[G[GF4x,`?K KaB NGK_DjCHfON§`dvCEx,DjKaBDGF4CHBI:K
N]Ka[QfO`4DGA>DG[_=O`?[LK_NQRK_DjDjKaB^D A%`dgn:CHR%RKTI:KThiCHRSR%AEBOI:K_N|K_DI}dgf:DGF?`?F [jK_N`?AR%AEhQn,F?B:KE=
¯Ka[ZCENGPHAEB:Ka[T[GCHBD§]K_PHAE`4KaRKaB^DTA>LOLKa`Ka[ZCENGPHAEB:Ka[]
+
> w&($
=wªA>NQR%Fª`4Ka[
I,Fp]K_NGKaB^DG[|L]K_NF4L,n¯]K_NQF?of:Ka[Ki:F?[jDGAEB^DG[_OCHByLKaf:D|h_F?DjK_N#
`4Ka[|fOB,F4D^]Ka[|I:KM¬F?[GfOAE`?F [GA>DGF4CHB !¬F [Gf:Ka`¬F?[Gf}:RCHBOF?DjKaf:N
`4KTh_`?A'¬F4K_N /* (' 1%$!}`?A[jCHf:NQF [ T2 /0[1* ,`?KThiNQAaECHB*CELODGF?of:K
`4Ka[|F?R%LONQF?R%AEB^DjKa[ 56 * /`?Ka[DjNQAEhiKaf:NQ[pI:KThiCHf:NGxKa[
`4Ka[|RCI:KaR%["
fOB)NGCExCED_,`dgAE` A>NQRKMI:KU[GARSAEF?[jCHB}OfOB)!KafyDjNQF hiCH`4CENGKE
`w5AEf:DpAEf,[G[GFwNAEB:PEK_NIOAEB,[phiK_DjDjKh_A>D^]K_PECENQF4K`4Ka[pf,BOF4D^]Ka[pI:K R9]KaRCHF4NGKa[[jKahiCHBOI,AEF4NGKa[
!CHfJKiDjK_NB:Ka[
IOF?[Gof:Ka[IOfONQ[N
`4KahiDjKaf:NQ[pI:KTIOF?[Gof:K_DjDjKa[
`4KahiDjKaf:NQ[ ~PENQAa¬EKaf:N[pI:K p8|YM1~
8YTc
`4KahiDjKaf:NQ[pI:KMx,AEBOI:Ka[pR%A>PHB]K_DGF?of:Ka[_=
Ka[(LONGChiKa[G[jKafONQ[}[jL]Kah_F?AE`?F [^]Ka[ 5A>LOLKa`Ka[(hiCELONGChiKa[G[jKaf:NQ[] [jCHB^DsAE[G[jCh_F]Ka[AphQnOAEof:K
L]K_NF4L,n¯]K_NQF?of:KE=
%'& 5 021 061 0?.'9 1 /5
" # -
06-
4 )
- 06-
4 .
2)(
-
. . 9
&9
- 0
<abEWEc F?` `?F?AERhQn,F+A>NI L,NGKaR%FK_NGKTR%AEhnOF?B:K¡ASh_AE`?h_fO`4K_N
<ab+uW ¯` AEF?[jKTªAE[Gh_AE` ªAE[Gh_AE` F?B:K
AEI,IOF4DGF4CHB K_D[GCHfO[jDjNQAEhiDGF4CHB
<abH>c #CEDjDj#NF4KaI\F?`?n:KaR ¬ECHB*@wKaF4x,B,F R fO`4DGF?L,`?F?h_A>DGF4CHB¡K_DpIOF?¬F?[QF4CHB
<arEc+u nOA>NQ`4Ka[A>xOxA>PEK IOKaf)RSAEhQnOF?BOKa[
RSAEhQnOF?BOKTIOFp]K_NQKaBDGF4Ka` `4K
RSAEhQnOF?BOKTAEBOAE`4DGF?o^fOK
<arEz> pK_NQRSAEB\pCH` `4K_NQF4DGn h_A>NQDjKa[|LK_NG!CEN]K_Ka[|LCHf:N|AEBOAE`4[jK_N
`?Ka[N]Ka[GfO`4DGA>DG[IOf)NGKahiKaBO[GKaRKaBD
AEf:
]
DGA>DG[ BOF?[
- 0 . - 0 0 06. . -
<azEcH pC
A>NQI FEKaB JA>N(¡I}dv
<'ªR I:KT`?CHB:P:,WXVlR n,AEf:D
cEc>E%KaB:PENQKaBOA>PEKa[_s<iuHE hiCHR%R f:DGA>DjKaf:NQ[
r>E R I:KM®,`?[
<azEcEr MCHB:NQAEI :f _K }c
NGKa`?AEF?[¡]Ka`4KahiDjNQCHBOF?of:Ka[
LONGKaR%F?K_NmAf:DGF?`?F?[GK_N`?KMx,F?BOAEF4NQK
<az+u^ JA>N)G hiCHRLCH[GAEB^DG[ Ka`4KahiDjNGCHBOF o^f:Ka[]
"! # - ; 0
)(
. * - & 0
. 9 . 4 -
<az+uW ECHnOB
F?BOhiKaB^D DGAEBOAE[jC>
`?FCENQI ¯K_NGNG DGAEBOAE[GC>¯K_NGNG ¯CHRL,f:DjK_N
<az+ub ECHnOBJ*AEfOhnO`4
ECHnOB hEK_NGD `4KahiDjNGCHBOF?h fOR%K_NQF?h_AE`BDjK_PENQA>DjCEN
BOI ¯CHR%L,f:DjK_N LONQCEPENQAER%R%A>x,`?K
R%AEBf:Ka`?`?KaRKaBD|A'¬EKahmIOKa[
hiCHR%R f:DGA>DjKaf:N[pCHf\IOKa[|h A>x,`4Ka[
AKaBO®,hQn:K_N
<az+ub ECHnOBJ*AEfOhnO`4
ECHnOB hEK_NGD `4KahiDjNGCHBOF?h F [GhiNGK_DjK
A>NQF A>x,`4K
ECHnOB
CHB
Kaf,R%AEB ¯CHR%L,f:DjK_N
<_HW+u)RCEDG[KaB\Rk]KaR%CHF4NGKUhiKaB^DjNQAE`4K
W>lEE¡RCEDG[p[Qf:N|fOBy[Gf:L,L/CENQD
R%A>PHB¯]K_DGF o^f:K
<az+ur ECHnOBJ*AEfOhnO`4
ECHnOB hEK_NGD ¬EK_NQ[GAE` fODjCHR%A>DGF?h ¯CHR%L,f:DjK_N
<_EE RCEDG[|I:K%<aW%x,F4DG[
rEcEcEc¡AEIOIOF4DGF?CHBO[¯CHf
VEVEVSRmfO`?DGF4L,`?F?h_A>DGF?CHBO[~[
WEV R M[Gf:LK_NG®,h_F4KZAEfJ[GCH`
" # -
0 ; < 0
-
:4
.10 7"&
.
(=*
<az+ur DjNQAEBO[GF?[GDjCEN Ka` `w@sA>x,[
<azEVEr h_F4NQh_fOF4DF?B^D^]K_PEN]K sKi:AE[pBO[jDjNfORKaB^DG[
<azEb> LONGKaR%F4K_NCENIOF?BOA>DjKaf:N ²+EE
Ax,AE[jKTI:KUDjNQAEBO[GF?[GDjCENQ[
" # -
06-
4 ) - 0 4 ) 0
;
0 ; -
- & 0
<azH< B^DjKa`}uHE>u uxF4DG[
<azH>W B^DjKa`sr>EHr r xF4DG[
- 06- - 0 0 0 . - 0
<azH< MKaBxAEh < WEVEb%ChiDjK_DG[
<azH>c JF?hiNAE`
<azH>V `4DGAEF?NrEr>E
<azH>b pLOL`4KZ <U*
DjK_¬EKU C aBOF A u EC Z
DjK_¬EK HCEx,[ < EC R9]KaRCHF4NGKT¬F?I¯]K_C
<azHE pLOL`4KZG
<azEr< BDjKa`(r>Hr> VE*
%'& )+5 0 5;-5 3 57.!1 0?* 021.!, 365 .$923 1 ,/* 0?5/9
f I¯]K_L,A>NQD%`?A1R%AEhQnOF B:KyB:KyhiCHRLCENGDjK\o^fOK)`?K)RSA>D^]K_NF4Ka` lfOBOF4D]KyhiKaB^DjNQAE`4KyK_D
L]K_NF4L,n¯]K_NQF?of:Ka[¯LK_NQRK_DjDGAEB^Dp`?A`?F?AEF [jCHB)Aa¬EKahU`dgf:DGF?`?F?[QA>DjKaf:Na=
`?AR%F?[GKKaB\NGCHf:DjKTIOf
[G[jD_KaRKMfOB¡LK_DGF4DlLONQCEPENQAER%RKKa[jD`?AEBOh,]KofOFPK_NGKM`dvKaBO[jKaRmx,`4KI:Ka[eL]K_NF4L,n¯]K_NQF?of:Ka[
K_D `?A\[]Kaof:KaBOhiK)I:Ka[TCEL]K_NA>DGF4CHBO[yA\KiKahiDGf:K_Na= ¯K%LK_DGF4DTLONQCEPENQAER%RKS[adgA>LOLKa`?`4K%`4K
-97 #"'&s
K_DeF?`:[jDjChl]KpKaB%|YM.=H`:[jK_NGD]K_PHAE`4KaRKaB^DZAM` AEBOhiK_Ne`4K
$
$a"
-9%024
ª!7 #"':"+ #7/
I:Kl`?A|R%AEhnOF?B:KlofOFa` fOF_I:CHF4D K_DjNGK¯[jDjChl]K¯KaBURk]KaR%CHF4NGKe[jKahiCHB,IOAEF4NGKE=B
[G[jD_KaRK|IwdvKiL,`?CHF4DGA>DGF4CHBmKa[jD fOB LONGCEPENQAER%R%K¯ofOF[jK_NGD I}dgF?B^DjK_NG5AEhiK 5F BDjK_NQRk]KaI,F?AEF4NGK
KaB^DjNGKfOB\CENIOF?BOA>DjKaf:NK_D`?Ka[f:DGF `?F?[GA>DjKaf:N[IOAEBO[`4KUx,fODpI:KUNQKaBOI:NGK `dgf:DGF?`?F [GA>DGF4CHByI:K
`dvCENQIOF?BOA>DjKafONU5AEh_F?`4KSK_D KSh_AEhiKE=l@sKa[ULONF?BOh_F4L,AE`?Ka[M#CHB,hiDGF4CHBO[ I}dgfOB.[G[jD_KaRKyI}dvKi
L`4CHF4DGA>DGF4CHBy[jCHB^D#
`?A PEKa[jDGF4CHB)K_D|`?A hiCHBO[jK_NQ¬+A>DGF4CHBJI:Ka[F?B:!CENQR%A>DGF4CHBO[¯L,A>N`dgF BDjK_NQRk]KaI,F?AEF4NGKZI}dgfOB
[j[jDiKaRKmI:K
¨ ( !$
`?A PEKa[jDGF?CHB I:K9`dvKaBO[jKaRmx,`4K.IOKa[\NGKa[G[GCHf:NQhiKa[ !L,NGChiKa[Q[jKaf:NQ[_R9]KaRCHF4NGKa[_NGKi
PHF?[jDjNGKa[aOF?RLONQF R%AEBDjKa[a/=4=4=L/K_NRK_DjDGAEBD`dvKie]Kah_f:DGF?CHB*I}dgf,B)LONGCEPENQAER%R%K
#CHfONQBOF4NUA%`dgfODGF?`?F?[GA>DjKafON¯fOBJ`?AEB:PHA>PEKUI:KThiCHRSR%AEBOI:KT5AEh_F?`4KMK_DpKSh_AEhiKE=
!
- ª!^$
BOF4/F?BOI:C
[_O@sF B^fOJAEh'Y / ¯KY /
" # -
) ,
- 06-
(=* * - -
R *
- 4 - $
-
9; )* .
*6)+; (
B«[G[jD_KaRK¡I}dvKiL`4CHF4DGA>DGF4CHB1Ka[jD
-.7/s7
"O¨ (
[_dgF?` B:KLKaf:DZ!CHf:NQBOF4NMof}dgfOB:K
[GKafO`4KDAEhQn:K1A ` A¡!CHF?[MAEf R%F hiNGCELONGChiKa[G[jKaf:N'F `sKa[jD
- &#"
"O¨ s
[_dgF?`LKaf:DP(]K_NQK_N
`?K§[Gf,F4¬F[GF?R fO`4DGAEB¯]K1I:K§L,`?fO[GF?Kaf:NQ[DAEhn:Ka[)L,A>Ny`4K§LONGChiKa[G[jKaf:Na= ZAEBO[)hiK1IOK_NQBOF4K_N
h_AE[aZ`?K9[j[jDiKaRK¢I:CHF4D*!AEF?NGK.LONQCEPENGKa[G[jK_N1DjCHf:DjKa[ `4Ka[*DAEhQnOKa[ [GF?R fO`4DGAEB¯]KaRKaB^D_=Z `
DjNAEF4DjKyfOB RCENQhiKaAEf¢I:Ky`?A*LONGKaRSF5K_NGKEªL,fOF?[ I:Ky`?A1[jKahiCHBOI:KEªK_DGh>=¯YMB9LA>NQ`4K)AE`4CENQ[
Iwd
7,+0(7/((,(¨H-9/"
I:Ka[DAEhn:Ka[_=
B9[j[GDiKaR%K I}dvKiL,`4CHF?DGA>DGF4CHB Ka[jD
-97(7
&s" 55 !$a:"'&s
[_dgF ` B:K%LKaf:DTP]K_NGK_N`4Ka[
IOKaR%AEBOI:Ka[of:KyI}dgfOB [jKafO`fODGF?`?F?[GA>DjKafONyA `?A§!CHF?[_ F?`¯Ka[jD
- &#"
&w" 55 !$a:"'&(
[_dgF?`
LKaf:DP]K_NGK_NZ[GF?R fO`4DGAEB¯]KaRKaB^Dp`4Ka[pI:KaR%AEBOI:Ka[IOKTL,`?fO[QF4Kaf:NQ[¯f:DGF?`?F [GA>DjKaf:NQ[_=
-.O w&(
OfOBJ[j[GDiKaR%KURmf,`4DGF8f:DGF?` F?[GA>DjKaf:N¯Ka[jD|DjCHfjCHf:NQ[pRmfO`?DGFDAEhQn:KE=
BCENIOF?BOA>DjKaf:N Ka[GD
- &(#" 5-
^0ª !
[adgF?`LKaf:Dl[jDjChEK_NeK_DeDjNQAEF4DjK_NeI:Ka[lDjKiDjKa[_I:Ka[
[GCHBO[_OI:Ka[|F R%A>PEKa[|®:Ka[K_DpIOKa[|F?R%A>PEKa[¬F?I¯]K_CH[_=
B9I:Ch_f,RKaBD
l^"' "'
Ka[jDUhiCHBO[GDGF4DGf]KSL,A>N fOB KaBO[GKaRUx,`?KSI:K%L,A>PEKa[ !®:
hnOF4K_NQ[ NGKa`?FK_Ka[|LA>N|I:Ka[|`?F4KaB,[] !NGKaB¬ECHF [ ¯L,`?AEh]Ka[IOAEBO[|`4KMDjKiDjKE=
%'& 5 5 * ,!0?5 9 ,/5 0 5 0
B
$a,&
LK_NQRK_DI:KhiCHB,B:KahiDjK_N L,`?fO[QF4Kaf:NQ[CENQI,F?BOA>DjKaf:NQ[sKaBDjNQKKaf=HYZBTLKaf:D
I,F?[jDGF?B:PHfOK_NAEfJRCHF?BO[I:Kaf: D3^LKa[|I:KUN]Ka[jKaAEf
`4Ka[N]Ka[jKaAEf `?Ch_AEf%LK_NQR%K_DjDjKaBDI:KNGKa`?F4K_N¯I:Ka[eCENIOF?BOA>DjKaf:N[eIOAEBO[¯fOB¡R KaRK
`?F4Kaf.A`dgAEF I:KTI:KTh A>x,`4Ka[|CHfJ`?F?AEF [jCHBO[¯CELODGF?of:Ka["
`4Ka[¡N]Ka[jKaAEfIOF [jDGAEBDG[¡LK_NQRK_DjDjKaB^D IOKJNGKa`?F?K_N¡I:Ka[¡CENQIOF?B,A>DjKaf:NQ[%IOF [jDGAEBDG[ A
`dgAEF?I:KMI:Km`?F?AEF?[jCHB D]Ka`K_L,n:CHB,F?o^fOKa[_,[GA>DjKa`?` F4DjKa[_]
@ldgF?B^D^]K_N K_DIOKa[TN]Ka[jKaAEf9Ka[jDUKaB^DjNGKa[AEf:DjNGKa[ `4K%L,A>NQDGA>PEK I:Ka[UNGKa[G[jCHfONQhiKa[UK_D I:Ka[
`?CEPHF?h_F4Ka`?[_:`?AhiCHRSRmfOB,F?h_A>DGF4CHByK_Dp`?KMDjNQAEBO[j!K_NGD|I}dgF?BO#CENQRSA>DGF4CHBO[_=
/"'^>("
Ka[jD I¯]K_®BOFphiCHR%R%K§`4K*N]Ka[jKaAEfI:Ka[¡N]Ka[jKaAEf=@sKa[SCENIOF?BOA>DjKaf:N[SIOf
R%CHBOI:KKaBDGF?K_Ne[jCHB^DehiCHBOB:KahiD]Ka[KaBDjNGKpKaf\AM`dgAEF?I:KI:K|h A>x,`4Ka[aHI:K|`?F4PHB:Ka[ªD]Ka`K_L,nOCHBOF]
of:Ka[K_DI:KT[GA>DjKa`?`?F?DjKa[_=
Ka[`4CEPHF?h_F4Ka` [[jL¯]Kah_F4®,of:Ka[LK_NQRK_DjDjKaB^DpI}dgAEh_h]KaI:K_NZAEf)LONQF?B,h_F4L,AEf¡[GK_NG¬F hiKa[
`dgAEh_h+Ka[I,F?[jDGAEB^D
;3W3QM6W(;
]<]19 6
`?ARKa[G[QA>PEK_NQF4K1]Ka`4KahiDjNGCHB,F?o^fOK
HNaFE(Q 6
`4KMDjNQAEBO[G#K_NGD|IwdgF?B:!CENQR%A>DGF4CHBO[
S[; = ]S[; =
`?AhiCHBO[Gf,`4DGA>DGF4CHB\I:KM!CENQfORS[
MDW BN]
`?AhiCHBO[Gf,`4DGA>DGF4CHB\I:KT` A sCHF?`?K *P'CHf
@sA sCHF?`?K !CHf $) &' * * 'CHf *P' |Ka[jDZhiCHBO[jDGF4DGf¯]K_KL,A>NZfOB*KaBO[jKaRmx,`4K
IwdgF?B:!CENQR%A>DGF4CHBO[R fO`4DGF?Rk]KaIOF A¡hiCHB^DjKaBOAEB^DmIOf§DjKiDjKEsI:Ka[MF?R%A>PEKa[awI:Ka[Z¬F I]K_CH[_wI:Ka[
[GCHBO[_
@wKa[T`4CEPHF h_F4Ka`?[LK_NQRK_DjDGAEB^DTI:K 03*[GfONZ` Ay sCHF?`?K[GCHBDTA>LOLKa`Ka[MI:Ka[UBOAa¬F4PHA+]
DjKafONQ[ ' ^1* =@wKa[LONF?BOh_F4L,AEf:¡[jCHB^D-*1 % F*|K_D 56 *5N*1 "! )+$ * =
@wK*` AEB:PHA>PEKJLONF?BOh_F4L,AE`I}dKahiNQF?DGf:NGK*IOK\L,A>PEKa[#] *P'%Ka[jDS p*@ %$ F*'&*(!
)
%$ .T0P +*8%/5/0D% <* =
`KiF [jDjK IOKa[ R%CEDjKaf:NQ[I:KSNQKahQn:K_NQhn:K %, )&%- &%/.0"!(1*1.32b1( )+*1.4$/65 /.
-$73*58*97[.;:6%/731> ¡LCHf:N\NQA>L,F I:KaRKaB^D)`?Ch_AE`?F [jK_N\I:Ka[JF B:#CENR%A>DGF4CHBO[«A
LA>NGDGF4N|I:KTRCEDG[h_`]Ka[_=
%'&< )+5*#,/:'*:$5>=@?# )
@wKT`?AEB:PHA>PEKmI:KMx,AE[jKUIOKTI:Ka[GhiNQF4L,DGF4CHB)I:Ka[[GF4DjKa[|[Qf:N|`?A (CHF?`4KZKa[jDpfOBy` AEB:PHA>PEK A
xAE`?F?[jKE=:@sAS`?F4PHB:KM[GfOF?¬+AEB^DjK
ACBED9FGA
@
BED
B F
@wKa[TxAE`?F?[jKa[
AED
A D
AGD K_D
AGD
[jCHB^DmF BOIOF?[jLKaBO[QA>x,`4Ka[_= `
Ki:F?[jDjK%IOKBOCHRUxONQKafO[jKa[Zx,AE`?F [jKmLCHf:NMRK_DjDjNQK%KaB1#CENRK%`4KDjKiDjKSK_DM§F?B,[^]K_NGK_NTI:Ka[
F R%A>PEKa[_,IOfy[GCHBO[_OI:Ka[|` F4KaBO[[Gf:N|IwdgAEf:DjNGKa[|[GF?DjKa[_=
F?B,[GF`4KM®,hQn,F4K_Np[GfOF?¬+AEB^D
AED
A D
AGD
WHF=6Q[W:_3W Q3E<X W$M"X/W \ A @
GD
A @ D
AGD
A
9F;[;(=>A@<@$B<B<BRI&K[M"E$OFC U3Y$KDW/MRITS[U D
A "!#
Q(Y[G<Y3C$K3URI%$/=DG
a<Q ; '&
M"EOFW UN][E;(<W3aFXPKF;3W*) _3W
Y/KDW/M D
A @ ED
A
\ D
#
Y$KFU] _,+ E MDS<Y(U$H"a ;6E/Z/K6W:_3W QFE[X W/MNX W
A @ \ D
A-8D
=FU3WHE W(U ]/WHW6] ;<UFW
A @ .- D
A/D
=FU3WHE(3W(G[UFa OFW0)AU3W aM<M(<W3a3X KF;3W*) W
A @ /8D
# W X/Y/K3UN]:WD]; aFX[X WD]<][E1Q(W W/M Q3E/G/M6W a$K
a(_(UFW6][]/WD] ]PKNE$OFa$MF;3W6]
A&GD
A D
A9D2
YD];
!
X$U6E =3;
A @ D >
A
9F;<; =>A@<@/B[B<BDCFE/GHJILK<ME$ODCPHNQ/ORI S(UF@6VQ[WDXU3Y(ZF@3EPMFS3Y6\ I&="]
D
9F;[;(=>A@<@$B<B<BDCFE$G$HJILK<MNE$ODCPH"Q/OIS[U3@6V/Q(WFXUFY(Z3@3E M3S3YN\ IL="]
A @ D
A @ 9D
A D
AED2
Y U<;Fa1Q(W
YDXPK(HNW$MF;
Y(U$H"a ; A @ GD
>
A
9F;<; =>A@<@/B[B<BDCFE/GHJILK<ME$ODCPHNQ/ORI S(UF@6VQ[WDXU3Y(ZF@3EPMFS3Y6\ I&=F_[S D
9F;[;(=>A@<@$B<B<BDCFE$G$HJILK<MNE$ODCPH"Q/OIS[U3@6V/Q(WFXUFY(Z3@3E M3S3YN\ IL=F_<S A @
ED
A @ 9D
A @
&ED
A @ GD
A @ GD
[jK_NQA¬F?[GfOAE` F?[^]KMhiCHR%RKUIOAEB,[`?A®OPHf:NQK<>=Xc=
%'&(% )+*<,/.#0 1(.',3 *(:$.'9 1 0 6;<5
(CHfON|N]Ka[jCHfOI:NQKTfOB LONGCEx,`KaRKTIOKTR%AEBOFK_NGKTF?BO#CENQRSA>DGF?o^fOKEF?`/)AfOByhQnOKaR%F?B:Ki
R%KaBDpRk]K_DGnOCIOF o^f:K¡ANQKa[jLKahiDjK_N
eNGCEx,`KaRK
]
B:CHBOh]K
AE`?PECENQF4DGnOR%F o^f:K
`4PECENQF4DGn,RK
eNGCEPENQAER%R%K
5[GfOF4DjKTI}dgF BO[jDjNQfOhiDGF?CHBO[
)]Ka[GfO`4DGA>DG[
B
#¥7,> #" (-9
Ka[GDU`?A)I:Ka[GhiNQF?LODGF4CHB§#CENRKa`?`4KI}dgfOB1L,NGCh]KaI¯]K I:KDjNQAEF4DjKaRKaB^D
ofOFLK_NQRK_DmA%L,A>NGDGF4N|I}dgf,B)KaBO[jKaRmx,`4KTI}dgF?BO#CENQRSA>DGF4CHBO[F?BOF4DGF AE`4Ka[I}dvCExODjKaBOF4N|IOKa[pF?B
!CENQR%A>DGF?CHBO[I]KaIOfOF4DjKa[a= ZdvKa[jDfOB:KM[GfOh_hiKa[G[QF4CHB)®,BOF4KK_DB:CHByAERmx,F4PHfKTI}dvCEL]K_NQA>DGF?CHBO[
h_` AEF4NGKaRKaB^DLCH[^]K_KE= B\AE`4PECENQF4DGn,RKT[jKMDjK_NQR%F B:KTI:CHBOhZDjCHfjCHf:NQ[a=
B
7¥,+,-k-.
Ka[jD%f,B:K [QfOF4DjKyI}dgF?BO[GDjNQfOhiDGF4CHBO[mI]K_®,BOF4Ka[I,AEBO[fOB `?AEB:PHA>PEK
IOCHBOB]KTLCHf:¬>AEBD|I¯]KahiNQF?NGKTfOByAE`4PECENQF?DGnORKE=
%'&(%'% )+*<7/92.':$92*#; ;-* 0 1(.',
@wK[jKafO` `?AEBOPHA>PEK%hiCHBOB^f IOK` A¡R%AEhnOF?B:Kk]K_DGAEB^DU`4K`?AEB:PHA>PEKxF?BOAEF4NGKE/F?`Ka[jDTF?B
I,F?[jLKaBO[GA>x,`?KUI:KLCHf:¬ECHF4NT[jL]Kah_F4®,K_NT`4Ka[M[^]Kao^fOKaBOhiKa[TI}dgF?B,[jDjNQfOhiDGF4CHB,[pK_DT`4Ka[MIOCHBOB]K_Ka[
[GCHfO[|fOB:KM!CENQRKML`?fO[¯!AEh_F `4KaRKaB^DpR%AEBOF4LfO`?A>x,`4KL,A>Np`dgfODGF?`?F?[GA>DjKafONa=
`?Ka[AEhiDGF?CHBO[%A¡KiKahiDGf:K_NTIOAEB,[I:Ka[Z`?AEBOPHA>PEKa[M[jRmxCH`?F?of:Ka[#hiK[jCHB^DZ`?Ka[` AEB:PHA>PEKa[
IOKMLONGCEPENQAER%RSA>DGF4CHB}=
YZB¢LKaf:DS[QfOh_h_F?BOhiDjKaRKaB^D)I]KahiNQF4NGK§`4Ka[¡I,Fp]K_NGKaB^DG[¡D8L/Ka[ I:K§`?AEB:PHA>PEK1hiCHR%RK
[QfOF4D
`?AEB:PHA>PEKURSAEhQnOF?BOK ,IOF4NGKahiDjKaR%KaBDphiCHR%LON]Kan:KaBO[GF?x,`4KZL,A>Np`?ARSAEhQnOF?BOK
`?AEB:PHA>PEKJIwdgAE[G[jKaRmx,`?A>PEK !CHf
,$a$a-
!&s
DjN_Ka[S5AEh_F?`4KaR%KaBDDjNQAEI,fOF?[GF4x`4K
LCHf:N K_DjNGKmhiCHRL,NQF?[L,A>Np` AR%AEhQnOF B:K
`?AEB:PHA>PEKUIOKMLONGCEPENQAER%RSA>DGF4CHB OI:CHF4D K_DjNGKmhiCHRL,F?`KMCHf\F BDjK_NGL,N]] K_D^]KmLCHf:N K_DjNGK
hiCHRLONQF [L,A>Np`?AR%AEhnOF?B:KE=
`KiF?[GDjKI:KafMD3^LKa[sIOK`?AEB:PHA>PEKa[I:KLONGCEPENQAER%RSA>DGF4CHB4+`4Ka[s`?AEBOPHA>PEKa[hiCHR%L,F?` ]Ka[
K_D`4Ka[|`?AEB:PHA>PEKa[F?B^DjK_NGLON]K_D^]Ka[_=
(CHfONp`4Ka[|`?AEBOPHA>PEKa[phiCHRL,F `]Ka[CHBJA`4KT[QhQn¯]KaR%A [GfOF4¬>AEB^D
!
B1hiCHRL,F `?A>DjKaf:NKa[jDMfOBJL,NGCEPENQAER%RKI:CHB^DM`4Ka[IOCHBOB]K_Ka[ !#CHfONQBOF4Ka[L,A>NM`dgf:DGF
` F?[GA>DjKaf:N ¯[GCHBDphiCHB,[jDGF4DGf¯]K_Ka[L,A>NpfOB)LONQCEPENQAER%RKU[GCHf:NQhiKTK_Dp`?Ka[N]Ka[GfO`4DGA>DG[ !#CHfONQBOF?[
AS`dgf:DGF?`?F [GA>DjKaf:N lL,A>N|fOByL,NGCEPENQAER%RKMCEx K_D_=
!
- ª!^$
AE[Qh_AE` m (YZª |
(CHfONp`4Ka[|`?AEBOPHA>PEKa[pF?B^DjK_NGLON]K_D]Ka[`?A[GF4DGfOA>DGF?CHByKa[jD|`?A[Gf,F4¬+AEB^DjK4
851->:<->31;=51$4A%/ "
"35!/1A%D*51->+."
3!+CA%/1D4$ "
"B51$*/$# / $*51$4A%/(
"
"35!/1AD51-<+C"
&E;CDML->"$
%
$& ($*D4A%5M;(':>$
->&,&($6%-<;=51$4&,$4"B5
#;=/8:J;&E;CDML->"$*)
nOAEof:K F BO[jDjNQfOhiDGF?CHB\Ka[jDDjNQAEIOfOF?DjKmKaB§`?AEB:PHA>PEKR%AEhnOF?B:KAEf§!f:NK_DSA¡R%Ka[Gf:NGK
IOKT`dvKie]Kah_f:DGF?CHBJIOf)LONQCEPENQAER%RKE=
!
- ª!^$
¯AE[QF?h>,@w
%'&(% )+5 3 1*+ 5 925,!0?5 . /5
YZB§¬F4KaB^DTI:CHBOhI:K¬ECHF4NTof}dgF?`(Ki:F?[jDjK%IOFp]K_NGKaB^DjKa[ThiCHfOhQnOKa[TI}dvCENGPHAEBOF [GA>DGF4CHB I:K
`dvCHf:DGF?`}F?B:!CENQR%A>DGF o^f:K
fOB:KThiCHfOhn:KUR%A>D]K_NQF?Ka`?`4K
fOB:KThiCHfOhn:KU[j[jD_KaRK I}dvKiL`4CHF4DGA>DGF4CHB
fOB:K hiCHfOhQnOK¢`4CEPHF?h_F4Ka`I}dgA>LOL`?F?h_A>DGF4CHBO[ !DjNQAEF4DjKaR%KaBDG[«IOKkDjKiDjKa[_TDGA>x`4Kaf:NQ[_
N
fOB:KThiCHfOhn:KTLONQCEPENQAER%RKTf:DGF `?F?[GA>DjKaf:N[_=
@sA*LONGKaR%FK_NGK hiCHfOhQnOK hiCENGNQKa[jLCHBOI9AEfkR%A>D]K_NQF4Ka` 7<%/ %/ * `4Ka[mAEf:DjNGKa[hiCENj
NQKa[jLCHBOI:KaB^DAEf*`4CEPHF?h_F4Ka` %$ * =
¯ ²
@wK)`?AEB:PHA>PEKyªAE[Gh_AE`A]K_D]KJhiN]K/]K9A f:NQF hQn«LA>N fOBOK¢]KaofOF4LK¡fOB,F4¬EK_NQ[GF4DGAEF?NGKSIOF
NF4P(]K_K*L,A>N F h`?AEfO[F4NGDGn}=@sA«L,NGKaR%FK_NGK*¬EK_NQ[GF4CHB Ka[jD¡A>LOLA>NQf:K\KaB <azEbEr= B:K
hiCIOF4®h_A>DGF4CHB !KaBO[jKaRmx,`4K%I:KNaK_PH`?Ka[ Ka[jDTA>LOLA>NQf:KKaB <azH>c\A'¬EKahS`4K%` AEB:PHA>PEKSªAE[
h_AE` DGAEBOIOA>NQIyofOF}[jK_NQD|I:KMN]K_a]K_NGKaB,hiKULCHf:NDjCHfO[|`?Ka[hiCHRL,F?`?A>DjKafONQ[ªAE[Gh_AE`,hiKUofOF
BwdvKih_`?fODL,AE[|I:Ka[KiDjKaBO[GF?CHBO[_=O@wKa[h_A>NQAEhiD^]K_NQF?[jDGF o^f:Ka[IOfy`?AEB:PHA>PEK ªAE[Gh_AE`s[jCHB^D#
`?AEB:PHA>PEKUIwdvKaBO[jKaF4PHB:KaR%KaBD
`?AEB:PHA>PEKU[GDjNQfOhiDGf:N]K
F?RL,` AEBDGA>DGF4CHByAEF [^]K_Km[Gf:N|f,B:KZPENQAEBOI:KTPHAERSRKUI:KTR%A>D]K_NQF?Ka`?[8
¬ECh_A>DGF?CHBJfOBOF?¬EK_NQ[jKa`?`4K 5[Gh_F4KaB^DGF4®,of:KE:PEKa[jDGF?CHB}N
I:Ka[GhiNQF?LODGF4CHB NQF4PECHf:NQKafO[jKTIOfy`?AEBOPHA>PEKE=
&(% )+* 0 9 01/925 3 6, 7/92.$:'92*#;<;-5 * *
B L,NGCEPENQAER%RK%ªAE[Gh_AE`eKa[jDTfOB:K%[QfOF4DjKI}dvCENQI:NQKa[MI:CHBOB¯]Ka[ Ay` AyR%AEhQnOF B:KE= ¯Ka[
CENI:NGKa[[jCHBDZI:CHBOB¯]Ka[KaB1f:DGF?` F?[GAEB^DpfOB:K [jB^DGA+K xF4KaBJL,N]Kah_F?[jK K_DKaB1f:DGF?` F?[GAEB^DpI:Ka[
R%CEDG[ph_`Ka[_=]
ByL,NGCEPENQAER%RKTªAE[Gh_AE`sKa[jDphiCHRLCH[]K I:KTI:Kaf)L,A>NGDGF4Ka[#
fOB:KML,A>NQDGF4KTI]Kah_`?A>NQA>DGF4CHB,[
fOB:KML,A>NQDGF4KTF?BO[jDjNfOhiDGF4CHBO[_=
@sAZL,A>NGDGF?K|I]Kah_`?A>NQA>DGF4CHBO[eLK_NQRK_D I:K|I¯]Kah_`?A>NGK_NDjCHf:DjKa[e`?Ka[ªKaBDGF4D]Ka[¯f:DGF?`?F [^]K_Ka[ IOAEBO[
` A%L,A>NGDGF?KUF?BO[jDjNfOhiDGF4CHBO[hiCHBO[jDGAEB^DjKa[_D8LKa[_,¬>A>NQF?A>x`4Ka[_OLONQCh]KaIOf:NQKa[pK_D#CHB,hiDGF4CHBO[
5I,AEBO[|hiK_D|CENQIONGK= ` `4KMhiCHR%RKaBOhiKTLA>Np`?AI¯]Kah_`?A>NQA>DGF?CHBJIOfyB:CHRIOfyLONGCEPENAER%RKE=
@sAL,A>NGDGF4K¯F?BO[jDjNfOhiDGF4CHBO[(Ka[jDªhiCHBO[jDGF4DGf¯]K_KL,A>N fOBOK¯[Gf,F4DjKI}dgF BO[jDjNQfOhiDGF?CHBO[s[]K_L,A>N]K_Ka[
LA>N(I:Ka[sL/CHF BDG[¬F4NGPHf,`4Ka[
)
=
`?`?KlhiCHR%RKaBOhiKL,A>N(`4KRCED(h_`K]
1DW[GDE M
K_D([jKlDjK_NR%F?B:K
LA>Nª`?K¯RCED h_`K]
W/MF_
[QfOF4¬FI}dgfOBmLCHF?B^D
I
= K_DjDjKL,A>NGDGF4K¯Ka[jD AEfO[G[GFA>LOLKa`K_K`4KhiCENGL,[]
I,f)LONGCEPENQAER%R%KE=
=FUFY(G[UFa H
B:CHRf,lNGCEPENQAERSRK
E M<=[KF;" Y/K3;(=<K3;
LA>NGDGF4KTI¯]Kah_`?A>NQA>DGF?CHBO[
16W[GDE M
[QfOF4DjKTI}dgF?B,[jDjNQfOhiDGF4CHB,[¯[]K_LA>N]K_Ka[pL,A>NI:Ka[LCHF?B^DG[¬F?NGPHfO`4Ka[
W/MD_I
& )+*-,/.021.',4365*9 1*5
`ª5AEf:D K_DjNGKSh_A>L,A>x`4K%I:K%[jDjChEK_N I:Ka[TF?B:!CENQR%A>DGF?CHBO[Zf:DGF?`4Ka[KaB«Rk]KaRCHF?NGK%hiKaB
DjNAE`4K¡IOfONQAEBDm`dvKie]Kah_f:DGF?CHBkIwdgfOB LONGCEPENAER%RKE=(CHf:N9]K_¬F4DjK_N IwdgAa¬ECHF4N\AJR%AEB,F4L,fO`4K_N
I,F4NGKahiDjKaRKaB^D`4Ka[AEI:NGKa[Q[jKa[pN]K_Ka` `4Ka[IOKa[h_AE[jKa[ZRk]KaRCHF?NGKa[pCwf§[jCHB^D[GDjCh(l]K_Ka[ThiKa[ZF?B
!CENQR%A>DGF?CHBO[_e`4Ka[S`?AEB:PHA>PEKa[ I:K\LONGCEPENAER%R%A>DGF4CHB C>NGKaB^D¡`?A«L/CH[Q[GF4x,F?` F4D^]K I}dgfODGF?`?F?[jK_N
IOKa[¬+A>NF?A>x,`4Ka[_=
AEB,[ @wKJ (N]Ka[jCENa¯IOF?hiDGF4CHBOB,AEF4NGK)I:Ka[S[Gh_F?KaBOhiKa[Evb lCHB LKaf:DDjNGCHfO¬EK_N¡`?A
I¯]K_®BOF4DGF4CHBy[Gf,F4¬+AEB^DjKMLCHf:N|`4KTRCEDp¬+A>NQF A>x,`4K
CHf:N `dgF?BO#CENQRSA>DGF?h_F4KaB}'f,B:K¬>A>NQF?A>x`4KeKa[jD fOBOK¯hnOA?B:KI:Kh_A>NQAEhiDiK_NGKa[_h>dvKa[GD A+
I,F4NGKefOB RCEDªo^f,FI¯]Ka[GF4PHBOK¯fOBOKh_AE[jKI:K`?ApRk]KaR%CHF4NGKE= #N AEhiKUAhiKRCED_>F?`Ka[jD`?CHF?[GF4x,`?K
IwdgAEh_h,]KaIOK_N%AEf:DGAEBDI:K¡#CHF [mof}dvCHBk`4K¡[jCHf,nOAEF4DjK1A§hiK_DjDjK\h_AE[jK K_D IwdvKaBkR%CIOF?®OK_NU`4K
hiCHB^DjKaBf¡hnOAEo^fOKp!CHF?[eof:K`dvKaB¬F4K|B:CHfO[eKaB%LONQKaBOI}[GAEB,[ GAER%AEF?[eA'¬ECHF4NTAU[jKp[GCHfOh_F4K_N
IOK|`?AM`4Ch_AE`?F?[GA>DGF4CHB Ki:AEhiDjKIOK|hiK_DjDjKh_AE[jKpI,AEBO[l`?AZRk]KaRCHF4NQKE^AEf:DjNGKaR%KaBDeI,F4D I:K|[jCHB
AEIONGKa[G[jKE= B\[jCHR%R%KE,`4Ka[¬>A>NQF?A>x,`?Ka[|[jCHB^DpI:Ka[LCHF4PHB¯]K_Ka[AERC'¬F4x,`4Ka[pK_D|LONGC¬F [jCHF4NGKa[
5AEh_F?`?F?DGAEBD|`?ARSAEBOF4L,fO` A>DGF4CHB¡IOKa[L,AEBOF4K_N[o^f:KT[GCHBDp`?Ka[|h_AE[jKa[I:KT`?ARk]KaRCHF4NQKE=
¯KMo^fOFNGK_¬F4KaB^DTAIOF?NGKof:KZ`4KZLONGCEPENQAERSRKaf:NI:CHBOB:KMAEfS¬>A>NQF?A>x`4Ka[I:Ka[B:CHR%[
IOK [jCHB1hn:CHF= Ka[¬>A>NQF?A>x`4Ka[ZI]Ka[GF4PHB:KaB^DMfOB:KUCHf1L`?fO[GF4KafONQ[|h_AE[jKa[MRk]KaRCHF?NGKa[MA>®,B
Iwdvm[jDjChEK_NI:Ka[ª¬>AE`4Kaf:NQ[ªL,A>NQDGF?h_fO`?FK_NGKa[ª[GAEB,[l[jKLON]K_Ch_h_f:LK_NlI:K|`dgAEI:NQKa[G[jKL,n^[GF o^f:K
CwfJ[jK_NGCHB^Dp[jDjChl]K_Ka[ZhiKa[p¬+AE`4KafONQ[IOAEBO[|` AR9]KaRCHF4NGKE=
B:KM¬>A>NQF?A>x`4KMLCH[G[iKaI:KTofOA>DjNGKTLONQCELONQFK_D^]] Ka[#
fOByB:CHR
fOB:KTAEI:NQKa[G[jK
fOB)D8LK
fOB:KM¬>AE`4Kaf:Na=
YZB LKaf:DLKaBO[jK_NSAEf ¬>A>NQF?A>x,`4Ka[hiCHRSRKkA«I:Ka[%x/CHF?DjKa[%[jL]Kah_F4®,of:Ka[%I,AEBO[%`?A
Rk]KaR%CHF4NGKUhiCHB^DjKaBOAEB^DfOBOKZ[QfOF4DjKTI:KU%K_DpI:KS<>=,@sKUB:CHR IOKT`?A¬>A>NQF?A>x,`4KMI¯]Ka[GF?PHB:KU`?A
xCHF4DjKE/`dgAEI:NGKa[Q[jKmI¯]Ka[GF?PHB:Km`dvKaR%L,`?AEhiKaRKaB^DIOKm`?ASx/CHF?DjKmIOAEBO[`?ASRk]KaR%CHF4NGKE}`4KTD3^LK
LK_NQR%K_DIOKZI¯]K_DjK_NR%F?B:K_N|`?AmDGAEF?`?`?KZIOKZ` AmxCHF4DjKK_D|`4KMRCEKaB\I:KMI]KahiCIOK_Np`dgF?B:!CENQR%A+
DGF?CHBSof}dvKa`?`4K|hiCHB^DGF4KaB^D_KaB:®,BS`?AM¬>AE`4Kaf:NlKa[jD¯`4KpI¯]KahnOFNQA>PEKI:Ka[TK_DeIOKa[p<phiCHB^DjKaBfO[
I,AEBO[` AUxCHF4DjKKaB¡AEh_hiCENQIyA'¬EKahM`4KD8L/K !¬ECHF4N[jKahiDGF4CHB u[Gf:N¯`?AUNQK_LON]Ka[jKaB^DGA>DGF4CHByI:Ka[
IOCHBOB]K_Ka[ =
- - - 0 . - - . - 0
@wKa[B:CHR%[IOKa[¬+A>NQF A>x,`4Ka[ 5AEF?BO[GFof:KM`4Ka[B:CHR%[IOKa[L,NGCEPENQAER%RKa[aOhiCHBO[jDGAEB^DjKa[_
D3^LKa[_,LONGCh,]KaI,f:NGKa[K_D|!CHBOhiDGF4CHB,[ [jCHB^DpA>LOLKa`Ka[|I:Ka[]
#0/"
¨HO"'&(+$
=,@wKa[F?I:KaB
DGF?®,h_A>DjKaf:NQ[N]K_LCHBOIOKaBDmA%IOKa[N_K_PH`4Ka[I:KM#CENR%A>DGF4CHByx,F?KaByI]K_®,BOF4Ka[
fOB\F?IOKaBDGF4®h_A>DjKaf:NKa[jDpfOBOKT[GfOF4DjKTI:Km`4K_DjDjNGKa[ 5RSF?B^f,[Gh_fO`4Ka[
+ a +
=4=
+,+
CHf\R%A+
jf,[Gh_fO`4Ka[
+ +
=4=
+0+
OI:KThQn,F/NQKa[
+ *+
=4=
+*+
K_DI:KTh_A>NQAEhiD_K_NGKa[ZI:KU[GCHfO`?F4PHB:Ki
RKaB^D
+ +
`4KMLONGKaRSF4K_N|h_A>NQAEhiDiK_NGKI}dgfOByF?I:KaB^DGF4®,h_A>DjKafON|I:CHF4D K_DjNGKUf,B:KT`4K_DjDjNGK
`?AS`?CHB:PHf:Kaf:NI}dgfOBJF I:KaBDGF?®,h_A>DjKaf:NpKa[GDxCENQB¯]K_KE= ¯K_DjDjKxCENQB:KT¬>A>NQF4KmKaBJ!CHBOh
DGF4CHB\IOfyhiCHR%L,F?`?A>DjKaf:N|fODGF?`?F?[]KE=
!
- ª!^$
a
#-
Ka[GDpfOByF?I:KaB^DGF4®,h_A>DjKafON8
<a
#-
BwdvKa[jD|L,AE[|f,ByF?I:KaB^DGF4®,h_A>DjKaf:N
a1
BwdvKa[jD|L,AE[|f,B\F?I:KaB^DGF4®,h_A>DjKaf:N'=
¡-., w&(^$
HF?`Ka[jD xCHBI:KLONGKaBOIONGK¯`dgnOA>x,F4DGfOIOK¯I:KI:CHB,B:K_NlI:Ka[lB:CHRS[ [GF4PHBOF
®h_A>DGF4![MAEf:§¬>A>NQF?A>x,`?Ka[_=KSR KaR%KEZ]K_¬F?DjKBS`4Kh_A>NQAEhiDiK_NGK)I:K[jCHfO`?F4PHBOKaRKaBDMofOFª[jK
hiCHBO#CHBOI\DjN_Ka[p5AEh_F?`4KaRKaB^DpA'¬EKahm`4Km[GF4PHB:KTRCHF BO[
+ C +
=OCHf:Np!CENQRK_NI:Ka[|F?I:KaB^DGF4®:
h_A>DjKafONQ[TAU`dgAEF?IOKpI:KpL`?fO[GF4KafONQ[ RCEDG[_e]KahiNQF4¬EKBZ`4KpL,NGKaR%F4K_N¯RCEDeKaB R%F?BfO[Gh_fO`?KEHL,fOF?[
LCHf:Nw`?Ka[wRCEDG[s[QfOF4¬>AEBDG[w`?Ka[wF?BOF4DGF AE`4Ka[/KaBUR%A GfO[Gh_fO`?KK_D`4Ka[wAEf:DjNQKa[s`4K_DjDjNGKa[sKaBTR%F?BfO[
h_f,`4KE= KaRKU[GF`4KZªAE[Gh_AE`}B:KZ5AEF4DLAE[`?AmI,F?[jDGF?BOhiDGF?CHB%KaB^DjNGKM`4Ka[R%F?BfO[Gh_fO`?Ka[lK_D`4Ka[
RSA jfO[Qh_fO`4Ka[_:hiKUofOF}B}dvKa[jDpL,AE[|`4KTh_AE[I:KMDjCHfO[|`4Ka[p`?AEB:PHA>PEKa[pIOKMLONGCEPENQAER%RSA>DGF4CHB =
CHBOh§]K_¬F4DjKB
!
K_D
2
Of:DGF?` F?[jKBZL,`?f:DCED
]/YH[HNW
W6]FY ;FW6]
K_D
=3UFY[_/K"E;
WD]
MF;E/W(U]
=
" # - * -
-.
- -
*:9
- ; ,
- 0 .
*6); (
@wKa[|IOF4p]K_NGKaB^DG[|D3^LKa[pIOKMx,AE[jKMKaB\ªAE[Gh_AE`[jCHB^D
@wKa[KaB^DGF4K_NQ[ 5RCEDh_`K] E MF;3W[G<W(U D
`4Ka[N]K_Ka`?[ 5RCEDph_`K]
UFW3a[Q
`4Ka[|h_A>NQAEhiD_K_NGKa[ 5RCEDh_`]K X 96a U 6
`4Ka[xCCH`]K_KaBO[ 5RCEDph_`K]
1DY<Y3Q(W3aM
=
@wKa[KaB^DGF4K_NQ[_`4Ka[|h_A>NQAEhiD_K_NGKa[K_Dp`4Ka[|x/CCH`K_KaBO[!CENQRKaB^Dp`4Ka[D3^LKa[pCENQIOF?BOAEf:/=]
¤
$%/"+ #+$
AEB,[xKaAEfOhiCHfOL I:KZ`?AEB:PHA>PEKa[IOKLONQCEPENQAER%R%A>DGF4CHBw^K_D¯KaB L,A>NGDGF?h_fO` F4K_NeKaB)ªAE[
h_AE`w`4Ka[ZKaBDGF?K_NQ[T[jCHB^DTNGK_LON]Ka[GKaBD]Ka[ [Gf:NTfOB1RCEDURSAEhQnOF?BOKE= f:NMfOB:KR%AEhnOF?B:K*A "
xF4DG[CHB1L/KafODNGK_L,N]Ka[jKaBDjK_N WJKaB^DGF4K_NQ[_}[jCHF4DM`4Ka[KaB^DGF4K_NQ[MhiCHRL,NQF?[KaBDjNQKpW ZK_D
W <>= CHBOh§[Gf:N¡f,B:KJR%AEhnOF?B:K A<ab.x,F4DG[SCHB LKaf:D%NQK_LON]Ka[jKaB^DjK_NyW"JKaB
DGF?K_NQ[_[jCHF4D`4Ka[¯KaBDGF?K_NQ[hiCHRLONQF [eKaB^DjNGKZ3cEWH>bEr pW M eK_D
cEWH>bH
W M k<=O@wKa[
CEL]K_NA>DGF4CHBO[|LCH[G[QF4x,`4Ka[[Gf:N|`?Ka[KaBDGF?K_NQ[|[jCHB^D#
`dvCELOLCH[]K !CEL]K_NQA>DGF4CHB§fOBOAEF?NGKE:B:CED^]K_K
C
`dgAEIOIOF?DGF4CHB !CEL¯]K_NQA>DGF4CHB*x,F?BOAEF4NQKEB:CED]K_K
`?A[jCHfO[GDjNQAEhiDGF4CHB !CEL]K_NQA>DGF?CHBJx,F BOAEF4NGKE:B:CED]K_K
C
`?AR fO`4DGF4L,` F?h_A>DGF4CHB !CEL¯]K_NQA>DGF4CHB*x,F?BOAEF4NQKEB:CED]K_K
_DE$O
`4KMNGKa[jDjKmI:KT`?AIOF4¬F?[GF?CHBSKaB^DGF5K_NGK !CEL]K_NA>DGF4CHBJxF?BOAEF4NGKEB:CED]K_K
HY[_
6
DjDjKaBDGF4CHBS`?AR fO`4DGF?L,`?F?h_A>DGF4CHBmB}dvKa[jDªL,AE[ F?R%L,`?F?h_F4DjKE`4K[jRmxCH`4K
I:CHF4DDjCHfjCHf:NQ[
K_DjNGK F?BOIOF o^f¯]KZKiL,`?F?h_F4DjKaR%KaBDKaB^DjNGKU`4Ka[|IOKaf CEL]K_NAEBOI:Ka[_=
!
- ª!^$
CEL¯]K_NQA>DGF4CHB N]Ka[Gf,`4DGA>D
-
C - c
-
<_
_DE$O
- W
HY[_
- <
@wKa[xCENQB:Ka[p[jCHBDI:CHBOB¯]K_Ka[L,A>N
C
B
C6\
K_D
8B
=
¤
$%
#$
@sATNQK_LON]Ka[jKaB^DGA>DGF4CHB)I:Ka[lN]K_Ka`?[¯¬>A>NQF4Kp[QfOF4¬>AEBDe`?Ka[`?AEBOPHA>PEKa[I:KLONGCEPENQAERSR%A>DGF4CHB}
`?Ka[|R%AEhQn,F?B:Ka[K_Dp`?Ka[|B:CENQRKa[fODGF?`?F?[]Ka[_=
@wKa[CEL]K_NQA>DGF?CHBO[pLCH[G[QF4x,`4Ka[¯[Gf:Np`?Ka[N]K_Ka`?[p[jCHB^D#
`dvCELOLCH[]K !CEL]K_NQA>DGF4CHB§fOBOAEF?NGKE:B:CED^]K_K
C
`dgAEIOIOF?DGF4CHB !CEL¯]K_NQA>DGF4CHB*x,F?BOAEF4NQKEB:CED]K_K
`?A[jCHfO[GDjNQAEhiDGF4CHB !CEL]K_NQA>DGF?CHBJx,F BOAEF4NGKE:B:CED]K_K
C
`?AR fO`4DGF4L,` F?h_A>DGF4CHB !CEL¯]K_NQA>DGF4CHB*x,F?BOAEF4NQKEB:CED]K_K
`?AIOF4¬F?[GF?CHB !CEL]K_NQA>DGF?CHBJx,F BOAEF4NGKE:B:CED]K_K
@
!
- ª!^$
CEL]K_NQA>DGF?CHB N]Ka[GfO`?DGA>D
I
-
I
r=XV
I C -
I
W=
I -
I
<ab=XW+u
I @ -
I
<>=XzEc<_Hc+uV
¤
$%¨HO+O¨E"
+^$
@wKa[¬>A>NQF?A>x,`?Ka[I:KMD8LK
XP9a U
LK_NQRK_DjDjKaB^DpI:KT[jDjChEK_NZfOBy[jKaf,`}h_A>NQAEhiDiK_NGKE=}@wKa[
¬>AE`4Kaf:N[¯IOKD3^LKMh_A>NQAEhiD_K_NGK[jCHB^DBOCED^]K_Ka[KaB^DjNGKMA>L/CH[GDjNGCEL,n:K !KiKaRL,`4K + +
=:@wKa[
h_A>NAEhiDiK_NQKa[f:DGF?`?F?[QA>x,`4Ka[[jCHBD¯hiKaf%I:Kp`?AZDGA>x`4K ¯G R%K_NQF?h_AEB DGAEB,IOA>NQI ¯CI:K
!CENlB:!CENQR%A>DGF4CHBB^DjK_NQhQnOAEBOPEK K_DjKaBOIOfOKE=] ¯K_DjDjKDGA>x,`4K|AE[G[jCh_F4Kpf,B%B^f,R9]K_NGCmfOB,F?o^fOK
KaB^DjNGK|ZK_DeWEVEVSAMhnOAEof:K|h_A>NQAEhiDiK_NGKEhiK|o^fOFLK_NQRK_D I}dgF BDjNGCIOfOF?NGKefOBCENQIONGK[Gf:N `4Ka[
h_A>NAEhiDiK_NQKa[_=OCHf:N¯f,B:K|¬>A>NQF?A>x,`4Kh_A>NQAEhiDiK_NGK
X
I:CHBOB¯]K_KECHBSLKaf:DlCEx,DjKaBOF4N`?KBfOR9]K_NGC
I,fJh_A>NQAEhiD_K_NGKS[GDjCh(l]K%IOAEBO[
X
A¡`dgAEF?I:KmIOKm`?AS#CHBOhiDGF?CHB
Y(U<_ X
=,)]Kah_F4L,NGCof:KaRKaB^D
IOKT`?A#CHB,hiDGF4CHB
X 93U =
!
- ª!^$
CEL]K_NA>DGF4CHB N]Ka[GfO`4DGA>D
Y U3_ + +
bEV
X 9FU + +
@wKa[ZA>LCH[jDjNGCEL,n:Ka[ZAEf:DjCHfONZIOK
+ +
[GK_NG¬EKaBDSA)IOF?[GDGF?B:PHf:K_N`4Kmh_A>NQAEhiD_K_NGK
+ + I:K
` A¬+A>NQF A>x,`4K =
¤
$
7}7
($
@wKa[¬>A>NQF?A>x,`?Ka[I:KTD8LKMxC^CH`K_KaB*B:KMLKaf:¬EKaBDL,NGKaBOI:NGKMof:KTI:Kaf)¬>AE`4Kaf:NQ[]
¬^NAEF 5RCEDph_`K]
;<U(KDW
!AEf: 5RCEDh_`]K
SFa[QD]$W
=
@wKa[CEL]K_NQA>DGF?CHBO[pLCH[G[QF4x,`4Ka[¯[Gf:Np`?Ka[x/CCH`K_KaBO[[jCHBD]
`?AB¯]K_PHA>DGF4CHB !CEL¯]K_NQA>DGF4CHB*fOBOAEF4NGKEOR%CED|h_`]K
M6Y ; 6
`?AhiCHBjCHBOhiDGF4CHB !CEL]K_NA>DGF4CHBJxF?BOAEF4NGKE:RCED|h_`K]
aMD_
D
`?AIOF?[CHBOhiDGF?CHB !CEL¯]K_NQA>DGF4CHB\xF?BOAEF4NGKE:RCEDh_`]K Y U
=
(CHfON(h_AE`?h_fO`?K_Ns`4KlN]Ka[Gf,`4DGA>D(I:KhiKa[sCEL]K_NQA>DGF?CHBO[sCHBmf:DGF?`?F [jK I:Ka[wDGA>x,`?Ka[wIOF4DjKa[sDGA>x,`4Ka[
IOKM¬l]K_NQF4D]K
M6Y ;
S3a<QF]/W ;<U(KDW
;<U(KDW S3a<QF]/W
a$MF_ S3a<QF]/W ;<U K6W
S3a<QF]/W S3a<QF]/W SFa[QD]/W
;<U(KDW S3a<QF]/W ;<U K6W
Y U S3a<QF]/W ;<U K6W
S3a<QF]/W S3a<QF]/W ;<U K6W
;<U(KDW ;<U(KDW ;<U K6W
KUL,`?fO[`4KMD3^LKMxCCH`]K_KaByKa[jD|CENQIOCHBOB]K4
SFa[QD]/W ;<U K6W
=
(CHfONDjCHf:DjKZ¬>A>NQF?A>x,`?KpI:KpD3^LKCENQIOF?BOAE`F?`OKa[GDLCH[G[GF?x,`4K|I:KN]Kah_f:L¯]K_NGK_N|[jCHB¡NQAEB:P
!!CHBOhiDGF4CHB
Y U3_
EI}dgAEh_h]KaI:K_NTAM[jCHB%[QfOh_hiKa[G[jKaf:N !!CHBOhiDGF4CHB
]1K"X[X
sK_DeI}dgAEh_h]KaI:K_NTAM[jCHB
L,N]KaI]KahiKa[G[jKaf:N !#CHB,hiDGF4CHB
=FU3W[_
=
- . -
AE[Qh_AE`|LK_NQRK_DI:K\R%AEB,F4L,fO`4K_NI:Ka[
¨H7/s$a"',/"'$
I:K\hnOAEo^fOK\D8LK\I:K)x,AE[jKE=
@(A¬>AE`4Kaf:NpI}dgf,B:KMhiCHBO[jDGAEB^DjKmKa[jDI:CHBOB¯]K_KUAEf*I]K_x,f:DpI}dgf,B)LONGCEPENQAER%R%KTK_DpB:KMLKaf:D
K_DjNGK\hnOAEB:P]K_K\L,A>N`?A§[GfOF?DjKE=(@wKyRCEDh_`K] X Y$M] ;
LK_NQR%K_D I}dgF BDjNGCIOfOF?NGK%`?A*L,A>NGDGF4K
IOK*I¯]Kah_`?A>NQA>DGF?CHBIOK*hiCHB^DGAEBDjKa[ 5hiK_DjDjK LA>NGDGF4K\Ka[jD CELODGF4CHB,B:Ka`?`4K=¯@wKa[ hiCHBO[jDGAEB^DjKa[
LKaf:¬EKaB^DKaBO[Gf,F4DjK K_DjNGKmI¯]Kah_`?A>N]K_Ka[ZI:KT` AR%AEBOFK_NGKT[Gf,F4¬+AEB^DjK4
B:CHR K¯CHBO[jDGAEB^DjK
¬>AE`4Kaf:N
)
@ldgf:DGF?` F?[GA>DGF4CHB%IOKhiCHBO[GDGAEBDjKa[LK_NQRK_D¯KaB^DjNGKAEfODjNGKa[fOB:KR%KaF?`?`4Kaf:NQKp`?F?[GF?x,F?`?F4D]KK_D
f,B:K%R%F?[jKJAjCHf:NTL`?fO[MAEF?[]K_KSIOKa[MLONGCEPENQAERSRKa[_=sªA>NUKiKaRL,`?KEw[GF CHB«I:CHF?D*]KahiNF4NGK
f,B1LONGCEPENQAER%R%KSI:K%h_AE`?h_fO` IwdgF?BD]K_N K_Do^f,F R%AEBOF4L,f,`4K f,B B:CHRUx,NGK®:KSI}dgAEBOBfOF4D]Ka[
[Qf:N`?Kao^f:Ka`[jCHB^DMh_AE`?h_fO`Ka[ZhiKa[MF?B^D^]] K_N K_DG[TK_DZ[QFhiKB:CHRmxONGKB}dvKa[jDM[GfO[QhiK_LODGF4x,`4KmI}dK_DjNGK
R%CIOF?®¯]K*of}dgfOB:K*#CHF?[¡L,A>N)I]Kah_AEI:KEAE`4CENQ[ `4K1I]Kah_`?A>NGK_N)KaBhiCHB,[jDGAEBDjK LK_NQR%K_D¡I:K
`?Ch_AE`?F [jK_NDjN_Ka[%NQA>L,F I:KaRKaB^D`?K)[GKafO`K_DSfOBOF o^f:K KaBOI:NQCHF4D I,AEBO[%`4K)LONGCEPENAER%RKyCwf
IOCHF4D K_DjNGKpKiKahiDGf¯]KM`4K|hQn,AEB:PEKaRKaB^D¯I:Kp¬+AE`4KafONa= KpL,`?f,[ `?AM¬>AE`4Kaf:NeI}dgf,B:K|hiCHBO[jDGAEB^DjK
LKaf:D K_DjNGKmKiL,NQF?Rk]K_KMKaBy!CHBOhiDGF4CHB\IwdgAEf:DjNGKa[phiCHB,[jDGAEBDjKa[I¯]Kah_`?A>N]K_Ka[AEfyLON]KaAE`?A>x`4KE=
!
- ª!^$
X Y$M] ;
MDYH1FUFW M<M<KNE$;3W6]
"/
)
MDYH1FUFW W
YDE<]
\ -
:MDYH1FUFW M<M<KNE$;3W6] )
" # . ,
- 9 .106.
*3); ( -
.10 ). 9 -
sCHf:DjKa[¯`4Ka[¬+A>NF?A>x,`4Ka[lfODGF?`?F?[]K_Ka[IOAEBO[e` AML,A>NGDGF4KF?BO[jDjNQf,hiDGF4CHBO[lI:CHF?¬EKaBD¯Aa¬ECHF4NS]K_D^]K
I¯]Kah_` A>N]K_Ka[AEfJLON]KaAE`?A>x,`4KTI,AEBO[|`?AL,A>NQDGF4KMI]Kah_`?A>NQA>DGF4CHBO[a=
@sA%LA>NGDGF4KTI:KUI¯]Kah_` A>NQA>DGF4CHBO[I:KT¬>A>NQF?A>x,`?Ka[Ka[jDF BDjNGCIOfOF?DjKML,A>Np`4KUR%CEDh_`K]
ODa U =
K_DjDjKTL,A>NGDGF4KM[jKZL,` AEhiKTA>LON_Ka[|`?AL,A>NQDGF4KMI:KMI]Kah_`?A>NQA>DGF4CHBO[pI:Ka[hiCHBO[jDGAEB^DjKa[_=
`?`4KKa[jD
]
K_PHAE`4KaR%KaBDCELODGF4CHB,B:Ka`?`4KEH[GF`4K|LONQCEPENQAER%RKpBOKR%AEBOF?L,fO`4KL,AE[¯I:K|¬>A>NQF?A>x,`?Ka[ 5hiKofOF
Ka[GD|DjN_Ka[|NQA>NQK=
@sA%I¯]Kah_`?A>NA>DGF4CHBJI:KM¬>A>NQF?A>x`4Ka[LONGKaBOI)KaB,[GfOF4DjKM`?A!CENQRKU[QfOF4¬>AEBDjK
`?F?[jDjK§I:K§BOCHR%[)I:K*¬>A>NQF?A>x`4Ka[ 5[]K_LA>N]K_Ka[\L,A>NyI:Ka[¡¬F?NGPHfO`4Ka[ >
D8LK§IOKa[¡¬>A+
NF?A>x,`4Ka[
)
C}f\`4Ka[|B:CHRS[|I:KM¬>A>NQF?A>x,`4Ka[[GCHBDpIOKa[|F?I:KaB^DGF4®,h_A>DjKaf:N[hiCENGNGKahiDjKaRKaB^D!CENQRk]Ka[_=
!
- ª!^$
ODa/U
> EPMF;FW(G3W U )
a 1 > X 9a/U )
. . . - .10 . -
pLONaKa[M[QAyI]K_®,BOF4DGF4CHB 5I¯]Kah_`?A>NQA>DGF?CHB
AE`?`4Ch_A>DGF4CHB1I}dgfOB:Kh_AE[jK%Rk]KaRCHF?NGK%AEf:DjC>
RSA>DGF?o^fOKaRKaBDKiKahiDGf¯]K_K`4CENQ[|I:KT`dvKie]Kah_f:DGF4CHBfOB:KZ¬>A>NQF?A>x,`?KLCH[G[_KaIOKUfOB:KM¬>AE`4Kaf:N
ofOF}hiCENGNQKa[jLCHBOI.A%`dK_DGA>DIOKT`?Ah_AE[jKmRk]] KaR%CHF4NGKUAEf\R%CHRKaBDI:KT[GA%I¯]K_®,B,F4DGF4CHB}=
¤
24 e¨E"':"+ #7/
@ldvCEL]K_NQA>DGF4CHBI}dgA+KahiDGA>DGF4CHB LK_NQR%K_D%I:K\I:CHBOB:K_N¡fOB:KyB:CHf:¬EKa`?`?Ky¬+AE`4KafON*A«fOB:K
¬>A>NQF?A>x`4KE=:@sA%[jB^DGA+KUIOKThiK_DjDjKmCEL]K_NQA>DGF?CHB\Ka[jDp` A[GfOF4¬>AEBDjK
B:CHR K
A>NQF?A>x,`?K
>
KiLONGKa[Q[GF4CHB
@sAU[]KaRSAEBDGF?of:KKaB%Ka[jD ^h_AE` h_fO` !CHf K_¬+AE`?f,A>DGF4CHB] eI:Kp`?AU¬+AE`4KafONI:Kp`dvKiLONQKa[G[GF4CHB
K_DNQAEBOPEKaRKaBDI:KZhiK_DjDjKM¬+AE`?Kaf:N¯I,AEBO[` Amh_AE[jKMRk]KaRCHF?NGKAE[Q[jCh_FK_K¡A] hiK_DjDjKM¬>A>NQF?A>x,`4KE=
!
- ª!^$
CEL]K_NA>DGF4CHB F?BO[GDjNQfOhiDGF4CHB ¬>AE`4Kaf:N|I:KU` A¬+A>NQF A>x,`4K
A+KahiDjK_NZ`?A¬+AE`?Kaf:NT<¡A%`?A¬>A>NQF?A>x`4K
> \ <
A+KahiDjK_NZ`?A¬+AE`?Kaf:NpcJA%`?A¬>A>NQF?A>x`4K
F F > / F c
¯Ka[CEL¯]K_NQA>DGF4CHBO[p[jCHBDI:Ka[CEL]K_NA>DGF4CHBO[|I}d
e^¨H"':" !7
=@wKM[jRUxCH`4KMI}dgA+KahiDGA+
DGF?CHB9Ka[GD
> = ¯KyofOFe®,PHf:NGK1A§PHAEfOhn:K\I:K)hiKy[jRmxCH`4K Ka[jDmCEx`?F4PHA>DjCHF4NGKaR%KaBDfOB
F I:KaBDGF?®,h_A>DjKaf:N|I:KT¬>A>NQF?A>x`4KE=O@sALA>NGDGF4KTI:NGCHF?DjKMKa[jDpfOB:K
$a$' !7
=@(A¬>A>NQF?A>x,`4K
K_D`dvKiLONGKa[G[GF?CHByI:CHF4¬EKaB^D K_DjNGKmIOKUR KaRKUD3^LK GA¡RCHF?BO[po^f:Km`dvKiL,NGKa[G[GF4CHByBOKU[jCHF4D
I,fD8LK
E M3;FW(G3W(U
K_D¯`?AM¬>A>NQF?A>x,`4KIOfD8LK
UFW<a<Q
AEfOo^fOKa`,h_AE[¯`?AT¬>AE`4Kaf:NlKaB^DGFK_NGKKa[jD
hiCHB^¬EK_NGDGF4K F?RL,` F?h_F4DjKaRKaB^D =
B:KMKiLONGKa[Q[GF4CHByLKaf:D K_DjNGK4
fOB:KM¬>AE`4Kaf:N|hiCHBO[GDGAEBDjK !KiKaRL`4Ka[
-
I
+ K + CHf
;<U K6W
fOB:KM¬>A>NQF?A>x,`?K
DjCHf:DjKa[ZhiCHRUxF?BOAEF?[jCHB,[pI}dvCEL]K_NQA>DGF?CHBO[¬+AE`?F I:Ka[pRK_DjDGAEB^DZKaBUf:¬^NQKUI:Ka[hiCHBO[
DGAEBDjKa[K_D~CHfJIOKa[¬+A>NF?A>x,`4Ka[_=
@wKa[KiLONGKa[G[QF4CHBO[[jCHB^D K_¬+AE`?f¯]] K_Ka[I:KMPHAEfOhn:K AI:NGCHF?DjKZ[QfOF4¬>AEBD`dvCENQIONGKMI:KMLONQF4C>
NF4D^]KUI]KahiNGCHF?[G[QAEBDp[QfOF4¬>AEBD
BOAEF?NGK F?B,AEF4NGK
MDY(;
@ _DE$O HNY(_ a$MF_
C C Y U
A A A8D D D
YZByLKaf:Df:DGF?`?F [jK_NI:Ka[L,A>NGKaB^DGn}Ka[jKa[LCHf:N|RCIOF4®OK_NhiK_D|CENQIONGKTI:KMLONQF?CENQF4D^]KE=
- ª!^$
CEL¯]K_NQA>DGF4CHB ¬>AE`4Kaf:N
-
<ac
-
<ar
YZByLKaf:DRCIOF4®OK_N`?A¬>AE`4Kaf:NpIOKa[¬+A>NF?A>x,`4Ka[DjCHf:DAEf\`4CHB:P%IOf\LONGCEPENQAER%R%KE=
!
- ª!^$
CEL¯]K_NQA>DGF4CHB F BO[jDjNQfOhiDGF?CHB ¬>AE`4Kaf:NpI:KT` A¬+A>NQF A>x,`4K
A+KahiDjK_NZ`?A¬+AE`?Kaf:N
\
A%`?A¬>A>NQF?A>x,`4K
> \ W
A+KahiDjK_NZ`?A¬+AE`?Kaf:N
F
A%`?A¬>A>NQF?A>x,`4K
F F > F F V
!
- ª!^$024 e¨E"':"+ #7/s$
B:K !CHF?[mI¯]K_®BOF4Ka[`4Ka[m¬+A>NQF A>x,`4Ka[mL/CH[Q[iKaI:KaBDfOB:K ¬>AE`4Kaf:NR KaRKy[GFeKa` `4K¡B}dvCHB^D
5AEF4D|`dvCEx K_D|I}dgAEf,h_fOB:KTF?BO[GDjNQfOhiDGF4CHByI}dgA+KahiDGA>DGF4CHB}=
=FUFY(G[UFa H S<S3WFX$;Fa ;E/Y/M"] )
ODa U a 1 X _ > E M3;FW[G<W(U,)
16W[GDE M
B3U6E$;3W3Q$M + a
+8 a +1
+8 1 +X
+8 X + _
+8 _ )
a > \ )
B3U6E$;3W3Q$M + a
+8 a +1
+8 1 +X
+8 X + _
+8 _ )
1 >
"/
)
B3U6E$;3W3Q$M + a
+8 a +1
+8 1 +X
+8 X + _
+8 _ )
X>
a 1 )
B3U6E$;3W3Q$M + a
+8 a +1
+8 1 +X
+8 X + _
+8 _ )
_ > a C 1 )
B3U6E$;3W3Q$M + a
+8 a +1
+8 1 +X
+8 X + _
+8 _ )
a > a - 1 )
B3U6E$;3W3Q$M + a
+8 a +1
+8 1 +X
+8 X + _
+8 _ )
1 > X 1 )
B3U6E$;3W3Q$M + a
+8 a +1
+8 1 +X
+8 X + _
+8 _ )
X>
a 1 )
B3U6E$;3W3Q$M + a
+8 a +1
+8 1 +X
+8 X + _
+8 _
W/MD_I
¤ $a, !$' !j7/& !^¨H"&s+
@sA[GAEF?[QF4KLK_NQR%K_DIwdgA+/KahiDjK_NAfOB:KZ¬+A>NF?A>x,`4KZfOB:KZ¬>AE`4Kaf:NDGA>L]K_KU[GfON|`4KMh_`?Aa¬F4K_N
CHfSI:K|R%AEBOFK_NGKpL,`?fO[P(]KaB]K_NQAE`4KZI:KDjCHf:DjKpIOCHBOB]K_K|LONGC¬EKaBOAEB^DeI:K|`dvKaB^DjN]K_K[jDGAEB,IOA>NQI}=
U3W3a _FQ$M
@wKa[eh_A>NAEhiDiK_NQKa[DGA>L¯]Ka[[GfONe`4Kph_`?A'¬F?K_Ne[jCHB^DhiCI]Ka[ ¯G (L,fOF [ªL,`?AEh,]Ka[I,AEBO[l`?A
Rk]KaR%CHF4NGK|DGAERLCHB
&8e
ªI,f%h_`?Aa¬F4K_N _CHB:KRk]KaRCHF?NGKp[GF4DGf¯]K_K[Gf:Ne` AMh_A>NGDjKI}dvKi
DjKaB,[GF4CHB hQnOA>NGP]K_KpIOK¯`?AhiCHR%R fOBOF?h_A>DGF?CHBmA'¬EKah`4K¯h_` Aa¬F4K_N = ¯K_DjDjK|R9]KaRCHF4NGK¯DGAERLCHB
!CHBOhiDGF4CHB,B:K¡hiCHR%R%K¡fOB:K¡®,`4KSIwdgA>DjDjKaBDjK !LONGKaRSF4K_NmA>NGNF4¬l]KELONGKaR%F?K_Nm[jK_NG¬F= Kaf
IOCHBOB]K_Ka[\[GfOh_hiKa[Q[GF4¬EKa[y[jCHB^Dy[^]K_L,A>N]K_Ka[JLA>N\fOBNGK_DjCHf:N\hQn,A>NQF4CED !DjCHfOhQnOK
B^DjN]K_K
f,BKa[GL,AEhiK CHffOB:K1DGA>x,fO` A>DGF4CHB !DjCHfOhQn:K A>x =|@sCENQ[Gof:K§` AkRk]KaR%CHF4NGK
DGAER%L/CHB)Ka[GD|¬F I:KE:`dgF?BO[jDjNfOhiDGF4CHB
U3W3a(_3Q$M
A>DjDjKaBOI 5h>dvKa[jD A+8IOF4NGKmo^f:KT`?KMLONGChiKa[G[jKaf:N
Ka[GDmx,`?Cof]K GfO[Gof}d#AJ`?A\®,B9IOK¡`dgF?B,[jDjNQfOhiDGF4CHBpof}dgfOBOK¡I:CHBOB¯]K_K)A>NGNQF?¬EKSIOAEBO[ hiK_DjDjK
Rk]KaR%CHF4NGKyDGAERLCHB}=ª@wCENQof:Ky`?A1Rk]KaRCHF4NQKyDGAERLCHBkhiCHB^DGF4KaB^DSfOB:K !CHf L,` fO[GF4Kaf:N[
IOCHBOB]K_Ka[_:`dgF?BO[GDjNQfOhiDGF4CHB
UFW3a _FQM
LONQKaBOIS`?AmLONGKaRSF5K_NGKE` AU[Gf:L,LONQF?RKIOf%DGAERLCHB}`?A
DjNAEIOfOF4D)]K_¬EKaB^DGf:Ka`?`4KaR%KaBDZAEf\xCHBy!CENQR%A>DK_DpL,`?AEhiK `?A¬>AE`4Kaf:NAEF?BO[GFCExODjKaBf:K IOAEBO[
` A¬+A>NF?A>x,`4KE=,@(AS[GAEF [GF4KTKa[jDI:CHBOhmfOB:KUA+KahiDGA>DGF4CHB}}`?A¬>AE`4Kaf:N[jDjChl]K_K%Bwd3]K_DGAEB^DZL,AE[
`?KyN]Ka[GfO`4DGA>DSIOKJ`d3]K_¬+AE` fOA>DGF4CHB IwdgfOB:K)KiL,NGKa[G[GF4CHB R%AEF?[fOB:K\IOCHBOB]K_K*I:KaRSAEBOI]K_KkA
`dgf:DGF?`?F?[QA>DjKaf:Na=
YZB§L/KafOD\]K_PHAE`4KaRKaB^DURK_DjDjNQK KaB^DjNGK%`4Ka[L,A>NQKaBDGn}Ka[jKa[a}L,`?fO[GF?Kaf:NQ[|B:CHRS[IOK ¬>A+
NF?A>x,`4Ka[_:[]K_L,A>N]Ka[L,A>NpIOKa[¬F?NGPHfO`4Ka[_=
B^DGA+K
U3W3a _FQ$M
Q`?F?[jDjKZI:KTB:CHRS[|I:KM¬>A>NQF?A>x,`4Ka[[]K_LA>N]Ka[LA>NpI:Ka[¬F4NGPHfO`?Ka[
@sA¬>AE`4Kaf:N|I:KThnOAEof:KT¬>A>NQF?A>x,`4KM[jK_NA%AE`4CENQ[|[QAEF?[GF4KMAEfJh_` Aa¬F4K_Na=
@ldvKie]Kah_fODGF4CHB I:K«`dgF?BO[jDjNQf,hiDGF4CHB
UFW3a _FQM
hiCHBO[GF?[jDjKA I¯]K_L`?AEhiK_N*`4K h_f:N[jKaf:N\I:K
`?KahiDGf:NGKF?R%Rk]KaIOF A>DjKaRKaBDTA>L,N_Ka[T`4KLONGChQnOAEF B§[GRmxCH`4K IOK®,B1I:K`?F4PHB:K 5[jRUxCH`4K
NQKaB¬ECl]K L,A>N B^DjN]K_K *`4CEN[Go^fOKT`4K,f)I}dvKaBDjN]K_KmKa[jDp`4KTh_` Aa¬F4K_N =
`(KiF [jDjK«]K_PHAE`4KaR%KaBDMfOB:Km¬+A>NF?AEBDjKI:K `dgF?BO[jDjNfOhiDGF4CHB
UFW<a(_FQM
I¯]Ka[GF4PHB¯]K_KL,A>NZ`4K
R%CEDph_`]K
UFW<a(_
!¬ECHF4N |iW =
@ldvKie]Kah_fODGF4CHBI:K`dgF?BO[jDjNQf,hiDGF4CHB
UFW<a(_
}hiCHBO[QF?[jDjKTA`?F?NGKEAL,A>NGDGF4NI:K`?ALCH[GF4DGF4CHB
hiCHfONQAEBDjKTI,f¡h_f:N[jKaf:NI:KZ`4KahiDGf:NGKE:fOB:KZ[GfOF?DjKI:KMh_A>NQAEhiD_K_NGKa[AaHAEB^Dp`?A [jBDGA+KTI:Ka[
hiCHB,[jDGAEBDjKa[ I,fUD3^LKI:K`?A¬>A>NQF?A>x,`4KK_DAI]K_L,`?AEhiK_Nl`4K¯h_f:NQ[jKafON(AEf !fON(K_D|AR%Ka[Gf:NGK
IOKT`?A`4KahiDGf:NGKE=
AEB,[S`4K\h_AE[¡I:K\`?A `4KahiDGf:NQK\I}dgfOB:Ky¬>A>NQF?A>x,`?K)IOKyD8L/K
EPMF;3W[G3W U CHf
U3W3a<Q
`4K
[GRmxCH`4K IOK ®B§IOK `?F?PHB:KmK_DT`?K h_A>NQAEhiD_K_NGK I:KDGA>x,fO`?A>DGF?CHB§[GCHBDTAE[G[QF?R%F?`Ka[AEf] 5h_A+
NAEhiDiK_NQKx,` AEBOh>=l@wKa[x`?AEBOh_[L,` AEh,]Ka[SKaB D K_DjK§[GCHBD F4PHB:CEN]Ka[_= ZdvKa[jDSfOB:KyK_NQNGKaf:N*A
`dvKie]Kah_f:DGF4CHBk[GF(A>LON_Ka[Aa¬ECHF4N[GAEf:D]K)`4Ka[Tx,` AEBOh_[UI:K¡D K_DjKECHB9DjNGCHf:¬EK fOB.h_A>NAEhiDiK_NQK
BOKhiCENGNQKa[jLCHBOIOAEB^DL,AE[MA`?A [jB^DGA+KZIOKa[hiCHBO[GDGAEBDjKa[|IOKD3^LK
EPMF;3W[G3W U CHf
UFW<a<Q
=
:F?B:CHB}:`?A`4KahiDGf:NQKUhiKa[G[jKUI}Ka[o^fOKT`4KMh_f:NQ[jKaf:NI:KT`4KahiDGf:NGKML,N]Kah+KaIOKmfOB)x,` AEBOhZCHf\fOB
h_A>NAEhiDiK_NQK\o^fOFsA CHfOD^]KyAEf.h_A>NAEhiDiK_NQKa[%I]K 'A§`?fO[ULCHf:NT!CENQRK_N`?AJhiCHBO[GDGAEBDjKE B:K
hiCENQNGKa[jLCHBOI L,AE[UA`?A[jB^DGA+KTI:Ka[hiCHB,[jDGAEBDjKa[I:KMD8LK
EPMF;FW(G3W U CHf
U3W3a[Q
= dvKa[jD
f,B:KmK_NQNGKaf:NSA)`dvKie]Kah_f:DGF?CHB«[GF`?A ¬+AE`4KafONZIOK `?A)hiCHBO[GDGAEBDjK%ofOFªA¢]K_D]K `?f:KB}dvKa[jDZL,AE[
hiCHR%L,A>DGF4x,`4KMLCHf:N`dgA+KahiDGA>DGF4CHB§Aa¬EKahm`4KMD8LKUI:KT`?A¬>A>NQF?A>x,`?KE=