Turismo y empleo en México. Una primera aproximación
40
Transcript of Turismo y empleo en México. Una primera aproximación
!"#$%&'"(")*+%&,"&!-./%#+&0&1)+2+#3$&"2&456/)+&
!"#$%&'"(")*+%&,"&!-./%#+&0&1)+2+#3$&"2&456/)+&
!"#$%&#'($)%*+,&'-'%-'+,.'%7!"#$%&8
9./#".$&",/)/:2;&<=>?
@ABA&C&<=>?;&D2/E".%/,$,&$-*:2+#$&,"&F$G$&H$(/I+.2/$&'-.& H$.."*".$&$(&'-.&J#&KAK;&H+(A&4"LM-/*/*+& <N=O=&P$&9$L;&F$G$&H$(/I+.2/$&'-.&
!"#$%&
Q#R."%+&0&S")S+&"2&456/)+'&#($)"*+("*,+")*#(*-).#/%
T-",$&R.+S/U/,$&($&."R.+,-))/:2&*+*$(&+&R$.)/$(&,"&"%*$&R-U(/)$)/:2&R"./:,/)$;&R+.&)-$(M-/".&#",/+&+&R.+)",/#/"2*+;&%/2&R$.$&"((+&)+2*$.&)+2&($&$-*+./L$)/:2&R."E/$;&"6R."%$&0&R+.&"%)./*+&,"(&",/*+.A&!+,$&I+.#$&,"&-*/(/L$)/:2&2+&$-*+./L$,$&%".V& R".%"W-/,$& )+2& (+& "%*$U(")/,+& "2& ($& ("0& I",".$(& ,"(& ,".")S+& ,"& $-*+.A&@".")S+%& B"%".E$,+%& H+2I+.#"& $& ($& ("0A& 1(& )+2*"2/,+& ,"& (+%& $.*3)-(+%& "%&."%R+2%$U/(/,$,&,"(&$-*+.A
H+2*"2/,+
Q2*.+,-))/:2 &&A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&& &A&X0%12*31+4)5*6&/#+7+*8+&/9+
:+;9$<5%*3=*H.")/#/"2*+&")+2:#/)+&0&I(-G+%&*-.3%*/)+%&"2&(+%&"%*$,+%&& ,"&456/)+Y&-2&$2V(/%/%&)-$2*/*$*/E+ &&&A& &&A& &&A& &&A& &&A& &&A& &&A& &&A& &&A& &&A& &&A& &&A& &&>X
:5+<"#+*><1+(+*8?,)@*A?;)@*B*C&+(/#1/%*0+D#)&*'2&)@*E&&)"%("%
:+;9$<5%*33A&H$#U/+&)(/#V*/)+&0&*-./%#+A&D2&$2V(/%/%&,"&R".%R")*/E$&A&&& A&&& A&&& NZ-+)5*F1%&#%*8+&/9+G*:+&5%1*H)B)1*I)/)&*B*F,+&*J+#&*K)&(L(")@*8+&/9+
:+;9$<5%*333A&!-./%#+;&")+%/%*"#$%&0&%-%&%".E/)/+%A&P$&"6R"./"2)/$&& ,"&F$G$&H$(/I+.2/$&'-. &&&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&ZN
0%12*31+4)5*6&/#+7+*8+&/9+*B*:5+<"#+*A%&)(+*A+<$)&#%*-+&$9()@
:+;9$<5%*3MA&!-./%#+&0&"#R("+&"2&456/)+A&D2$&R./#".$&$R.+6/#$)/:2&A&&& A&&& XKN+&5+*>=*I+&&?(*E&&)%5+G*65#1)1*:+1$&%*O5D+&)@B*0)1P1*E($%(#%*-+")&+*'+/Q)/%
:+;9$<5%*MA&H$#U/+&)(/#V*/)+&0&*-./%#+&"2&456/)+&&&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &><XA<#1*H+,?(*-%&)(%*-%&)(%G*M#&7#(#+*8<+"+5<;)*A?;)@*R%&&)1B*-+=*!(1)5,#(+*-+&9(*M+&7+1
:+;9$<5%*M3A&P32"$%&R$.$&-2$&"%*.$*"W/$&,"&)+#-2/)$)/:2&%+)/$(& "2&,"%*/2+%&*-.3%*/)+%&)+%*".+%&"2&)+2,/)/+2"%&,"&)$#U/+&)(/#V*/)+Y&& )$%+&'$2&F($%;&[$0$./*;&456/)+&A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&>KN
-+&9+*E5#/#+*C%(1)/+*-%&+5)1*B*E&,+("%*C&+(S<)@*M#55+1)T%&
:+;9$<5%*\QQA&H.")/#/"2*+&$&($.W+&R($L+&"2&456/)+&/#R-(%$,+&R+.& "(&*-./%#+Y&"E/,"2)/$&"#R3./)$&R$.$&"(&H"2*.+&Q2*"W.$(#"2*"& 9($2/I/)$,+&,"&P+%&H$U+%&&&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &&&A &>ZN
8<1$+D%*:&<@*:QLD)@G*M9/$%&*K)&(L(")@*R&)U%G8)&@+9(*ED#521*'%5+(/%*B*0<"#$Q*0<L&)@*-+(/#55+
:+;9$<5%*\QQQA&]"+*-./%#+;&*-./%#+&%/,".$(&0&,"%$..+((+&A&&& A&&& A&&& A&&& A&&& A&&& A&&>XN0+D#)&*8+#$L(*-%&L(*B*-+(<)5*F1)7<)&+*:QL@+&%*=*** =*** =*** =*** =*** =*** =*** =**VWX
:+;9$<5%*Q^A&H$#U/+&)(/#V*/)+&"2&,"%*/2+%&*-.3%*/)+%&,"(&9$)3I/)+& #"6/)$2+Y&/#R$)*+%;&E-(2".$U/(/,$,&0&$,$R*$)/:2&A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&<>N
E($%(#(+*3D+(%D+*B*!Y+$)&#()*H+,9&)@Z3D+(%D+
'+U."&(+%&$-*+."%&A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&& A&&<NN
XK
:+;9$<5%*3M&!-./%#+&0&"#R("+&"2&456/)+A&D2$&R./#".$&$R.+6/#$)/:2
N+&5+*>=*I+&&?(*E&&)%5+V65#1)1*:+1$&%*O5D+&)@V
0)1P1*E($%(#%*-+")&+*'+/Q)/%V
<3:@93-
1(&*-./%#+&)+#+&I"2:#"2+&")+2:#/)+&S$&#+%*.$,+&-2&)+#R+.*$#/"2*+&).")/"2*"&0&%+%*"2/,+&,"%,"&%-&%-.W/#/"2*+&I+.#$(;&S$%*$&($&I")S$;&$%3&%"&+U%".E$&"2&(+%&."W/%*.+%&,"&)+2*./U-)/:2&$(&/&(&0&$&($&W"2".$)/:2&,"&"#R("+&$&2/E"(&#-2,/$(&0&$(&/2*"./+.&,"&(+%&R$3%"%&,+2,"&%"&S$&/#R($2*$,+&0&R.+b#+E/,+& %-& ).")/#/"2*+A&9$.*/)-($.#"2*";& ($& ."($)/:2& *-./%#+& 0& "#R("+&."%-(*$& ."("E$2*"&R+.M-"&S$& %/,+& ($&U$%"&"2&"(&,/%"f+&,"& ($&R+(3*/)$&,"&,"%$..+((+&"2&R$3%"%&)+#+&456/)+;&,+2,"&%"&)+2%/,".$&$(&*-./%#+&)+#+&%")*+.&R./+./*$./+&R+.&%-&"I")*+&"2&($&"%*.-)*-.$&")+2:#/)$&0&%-&)$R$)/,$,&,/2$#/L$,+.$&"2&($&)."$)/:2&,"&I-"2*"%&,"&*.$U$G+a&%/2&"#U$.W+;&"6/%*"2&$`2&W.$2,"%&E$)3+%&,"&/2I+.#$)/:2&M-"&R".#/*$2&-2&)+2+)/#/"2*+&#V%&R.+I-2,+&%+U."&"%*"&*"#$A&9+.&"((+;&%"&$2$(/L$&($&"%*.-)*-.$&,"(&"#R("+&R+.&.$#$&,"&$)*/E/,$,&."($)/+2$,$&)+2&"(&*-./%#+&"2&456/)+;&-*/(/L$2,+&)+#+& S"..$#/"2*$%& "(& )+"I/)/"2*"& 0& "(& 32,/)"& ,"& "%R")/$(/L$)/:2& ,"(&"#R("+;&)+#+&-2&R./#".&$)".)$#/"2*+&$&($&R.+,-))/:2&,"&/2I+.#$)/:2&M-"&/2)."#"2*"&($&)".*/,-#U."&"2&"(&,/%"f+&"&/#R($2*$)/:2&,"&#+,"(+%&
>A& 9.+I"%+."%b/2E"%*/W$,+."%&,"&($&D2/E".%/,$,&_-*:2+#$&,"&[$0$./*A&H,A&,"&($&H-(*-.$&k_#$,+&[".E+l&%h2;&!"R/);&[$0$./*;&,/&dN>X=A&H+.."+%&"(")*.:2/)+%Y&JU$..+2g-$2A",-A#6;&-)$%*.+$(E$b."LgW#$/(A)+#;&G#$,".$g-$2A",-A#6
Xd
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
,"&,"%$..+((+&,"(&*-./%#+&R".*/2"2*"%&)+#+&$(*".2$*/E$&"2&($&W"2".$)/:2&,"&"#R("+&0&,"&./M-"L$&"2&(+%&V#U/*+%&2$)/+2$(&0&."W/+2$(A
'(&!-6*[email protected]
@"&$)-".,+&)+2&($&n.W$2/L$)/:2&4-2,/$(&,"(&!-./%#+&7<=>N8;&"(&*-./%#+&S$&"6R"./#"2*$,+&-2$&)+2*/2-$&"6R$2%/:2&0&,/E".%/I/)$)/:2;&)+2E/.*/52b,+%"&"2&-2&%")*+.&")+2:#/)+&,"&/#R+.*$2)/$&0&).")/#/"2*+&$&2/E"(&#-2b,/$(A&P$&$)*/E/,$,&*-.3%*/)$&"2&<=><&."R."%"2*:&$&2/E"(&/2*".2$)/+2$(&Xe&,"(&R.+,-)*+& /2*".2+&U.-*+& 7/&(8;& W"2".:&"2&R.+#",/+&-2+&,"& )$,$&>>&"#R("+%a&$%/#/%#+&(+%&/2W."%+%&"M-/E$(/".+2&$&de&,"&($%&"6R+.*$)/+2"%&#-2,/$("%A
P+%&/2W."%+%&,"(&*-./%#+&/2*".2$)/+2$(&$&2/E"(&#-2,/$(&).")/".+2&?e&"2&*5.#/2+%&."$("%&,-.$2*"&<=><;&(+W.$2,+&-2&2-"E+&.5)+.,&)+2&-2&U/((:2&ZK&#/(&#/((+2"%&,"&,:($."%&,"&1%*$,+%&D2/,+%A&1(&).")/#/"2*+&,"&/2W."b%+%&"%&%/#/($.&$(&).")/#/"2*+&,"&($%&(("W$,$%&,"&*-./%*$%&/2*".2$)/+2$("%;&M-"&*$#U/52&$-#"2*$.+2&?e;&(+&M-"&S$)"&"E/,"2*"&($&I-".*"&)+.."($)/:2&"2*."&(+%&,+%&/2,/)$,+."%&7"41;&<=>N8A
9$.$&"(& )$%+&,"&456/)+& (+%& ."%-(*$,+%&"2& *5.#/2+%&#$).+")+2:#/b)+%&R."%"2*$2&($&#/%#$&*"2,"2)/$;&/2,/)$2,+&M-"&"(&*-./%#+&."R."%"2*$&($&)-$.*$&I-"2*"&,"&,/E/%$%&/2*".2$)/+2$("%;&W"2".$2,+&Xe&,"(&/&(&0&"#bR("$2,+&$&ZANe&,"&($&R+U($)/:2&7&4,";&<=>N8A
'/2&"#U$.W+;&"2& *5.#/2+%&,"&$2V(/%/%&,"& ($&")+2+#3$&2$)/+2$(& %+2&R+)+%& (+%& *.$U$G+%&M-"&S$2&$U+.,$,+& ($& ."($)/:2&"6/%*"2*"& "2*."& "(& *-b./%#+&0&($&W"2".$)/:2&,"&"#R("+&R+.&R$.*"&,"(&%")*+.A&12&"%*"&%"2*/,+;&"2&"(&R."%"2*"&)$R3*-(+&%"&U-%)$&"I")*-$.&-2$&R./#".$&$R.+6/#$)/:2&$&($&"%*.-)*-.$&,"(&"#R("+&"2&($%&.$#$%&,"&$)*/E/,$,&M-"&)+#R+2"2&"(&%")*+.&*-.3%*/)+&$&2/E"(&2$)/+2$(A
1(&,+)-#"2*+&%"&"2)-"2*.$&"%*.-)*-.$,+&"2&)/2)+&$R$.*$,+%A&1(&R./b#".+&)+.."%R+2,"&$&($&."E/%/:2&,"&($&(/*".$*-.$&%+U."&($&."($)/:2&*-./%#+&0&"#R("+a&"2&"(&%"W-2,+&%"&R."%"2*$&($&/#R+.*$2)/$&M-"&."R."%"2*$&"(&*-./%b#+&R$.$&($&")+2+#3$&2$)/+2$(a&R+.&%-&R$.*";&(+%&,$*+%&0&,"%$..+((+&,"&(+%&/2,/)$,+."%&$&"%*/#$.&%"&R."%"2*$2&"2&"(&$R$.*$,+&*".)".+a&"2&"(&)-$.*+&$R$.*$,+&%"&R."%"2*$2&(+%&."%-(*$,+%&,"&($%&"%*/#$)/+2"%&,"(&)+"I/)/"2*"&,"&"#R("+;&32,/)"&,"&"%R")/$(/L$)/:2&,"(&"#R("+&2+.#$(/L$,+&0&"(&*$#$bf+&#",/+&,"&"#R."%$a&R+.&`(*/#+;&%"&R."%"2*$2&($%&."I("6/+2"%&I/2$("%A
XZ
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
V=V=*A+*&)5+/#?(*$<,%*B*),;5)%=*H)D#1#?(*")*5+*5#$)&+$<&+
1(& *-./%#+& "%& -2$& /2,-%*./$& S"*".+W52"$& M-"& ."R."%"2*$& -2$& $#R(/$&E$./",$,&,"&2"W+)/+%;&*/R+%&0&*$#$f+%;&"%&,")/.;&2+&"%&-2&%")*+.&"2&"(&%"2b*/,+&*.$,/)/+2$(&0&2+&"2)$G$&"2&"(&)./*"./+&"%*V2,$.&,"&($%&)-"2*$%&2$)/+b2$("%&79"2$bF+M-"*"&0&95."Lb@$)$(;&<=><8A&@"&$)-".,+&)+2&9$/%&7<==d8;&"(&*-./%#+&"%&-2$&/2,-%*./$&)+#R-"%*$;&M-"&W"2".$&/2W."%+%&"2&-2&W.$2&2`#".+&,"&$)*/E/,$,"%&"2& (+%& %")*+."%&0& %-U%")*+."%&"2& ($&)($%/I/)$)/:2&,"&($%&)-"2*$%&2$)/+2$("%;&"2*."&"(($%Y&$8&S+*"("%&0&+*.$%&-2/,$,"%&,"&$(+bG$#/"2*+a&U8&."%*$-.$2*"%a&)8&$W"2)/$%&,"&E/$G"%&0&+R".$,+.$%&*-.3%*/)$%a&,8&%".E/)/+%&,"&*.$2%R+.*"a&"8&)+#R("G+%&*-.3%*/)+%&0&&)1%&$1t&I8&"2*."*"2/b#/"2*+a& W8& I$)/(/,$,"%&,"& )+#R.$;& /2)(-0"2,+&E"2*$%&,"& )-./+%/,$,"%& 0&$.*"%$23$%a&S8&)"2*.+%&,"&)+2E"2)/+2"%&0&)+2I"."2)/$%a&/8&I$)/(/,$,"%&R$.$&,"R+.*"%&*-.3%*/)+%&0&,"&$E"2*-.$a&G8&%".E/)/+%&,"&W-3$A
9$.$&'S-/I$&"*&$(A&7<=>>8;&"(&*-./%#+&"%&-2$&/2,-%*./$&,"&%".E/)/+%&/2b*"2%/E$&"2&"#R("+;&R".+& *$#U/52&"%&-2$& /2,-%*./$& )+#R("G$&U$%$,$&"2&"(&#+E/#/"2*+& ,"& R".%+2$%& 0& "(& )+2%-#+&,"& (+%& E/$G".+%A&P$& /2,-%*./$&*-.3%*/)$&R.+E""&U/"2"%&0&%".E/)/+%&*$2*+&$&($&R+U($)/:2&(+)$(&)+#+&$&(+%&*-./%*$%&7p-#$./;&<=><8;&S$)/"2,+&,/I3)/(&)+2*$U/(/L$.&($&)+2*./U-)/:2&"2b*."& *-./%*$%& 0& (+)$("%A&_%/#/%#+;& ($&S"*".+W"2"/,$,&,"&$)*/E/,$,"%&R".b#/*"&M-"&"6/%*$&-2$&I("6/U/(/,$,&I-2)/+2$(&,"(&"#R("+&M-"&R".#/*$&"(&-%+&"I/)/"2*"&,"&($&I-".L$&($U+.$(;&,+2,"&(+%&*.$U$G$,+."%&%"&,"%R($L$2&"2*."&-2$&0&+*.$a&"2&*$2*+&M-"&(+%&%$($./+%&%"&$G-%*$2&$(&2/E"(&,"&)+2+)/#/"2*+%;&"6R"./"2)/$&0&$2*/W�",$,&"2&"(&"#R("+&7_0J$);&<=>=8A
_(&%".&"(&*-./%#+&-2$&/2,-%*./$&)+#R("G$;&R-","&%".&W"%*/+2$,+&R+.&-2/,$,"%&")+2:#/)$%&R"M-"f$%&0&M-"&)-U."2&-2$&E$./",$,&,"&,/I"."2*"%&%".E/)/+%a&W"2".$(#"2*"&"%*$%&"#R."%$%&%+2&,"&)$.V)*".&I$#/(/$.;&R+.&(+&M-"&$(&"6R$2,/.%"&"(&*-./%#+;&(+%&/2W."%+%&(("W$2&$&($&R+U($)/:2&.VR/,$b#"2*"&7F")"..$;&<==X8A&P$&R.+R/",$,&I$#/(/$.&*$#U/52&R-","&%".&I$)*+.&,"&/2I+.#$(/,$,;&0$&%"$&$&R$.*/.&,"(&*.$U$G+&2+&."#-2".$,+;&+&)+#+&(+&#"2)/+2$&_0J$)& 7<=>=8;& $& *.$E5%& ,"& E"2,",+."%& $#U-($2*"%;& E"2*$&,"&$.*"%$23$%&0&R."%*$)/:2&,"&%".E/)/+%&$(&*-./%#+&"2&(+%&S+W$."%A
1(&"%*-,/+&,"(&*-./%#+&"2&($&$W"2,$&")+2:#/)$&S$&"%*$,+&R."%"2*"&,"%,"& ($&,5)$,$&,"& (+%&+)S"2*$&7P$,J/2;&<=>>8A&12&"(&)$%+&,"(&"#R("+&%"&$2$(/L$2&(+%&/#R$)*+%;&($&W"2".$)/:2&,"&/2W."%+%&0&%$($./+%;&$%3&)+#+&($&"E$(-$)/:2&,"& (+%&U"2"I/)/+%&")+2:#/)+%&M-"&"(& *-./%#+&S$& *.$3,+&$&(+%&,"%*/2+%&0&,"%$..+((+%&*-.3%*/)+%;&)-0+%&."%-(*$,+%&R-","2&%".&W-3$&"2&*5.#/2+%&,"&R+(3*/)$&/2,-%*./$(&0&,"&*+#$&,"&,")/%/+2"%A&H+/2)/,/"2,+&)+2&(+%& R($2*"$#/"2*+%& ,"& j+S2%+2& 0&!S+#$%& 7>XX=8;& M-"& %"f$($2&M-"& (+%&
XO
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
"%*-,/+%&%+U."&($&W"2".$)/:2&,"&"#R("+&R+.&"(&*-./%#+&%+2&,"&E$(+.&"2&*5.#/2+%&R+*"2)/$("%&0&"2&"(&.+(&M-"&%"&("&S$&$*./U-/,+&R$.$&."E/E/.&")+2:b#/)$#"2*"&($%&."W/+2"%&,"R./#/,$%A
9$.$&F+%)S;&'-V."L&0&n(/E$."%&7<==?8;&($&W"2".$)/:2&,"&"#R("+&"%&($&)$R$)/,$,&M-"&*/"2"& ($&$)*/E/,$,&*-.3%*/)$&R$.$&)."$)/:2&,"&2-"E+%&"#bR("+%&"2&-2&,"%*/2+&+&)"2*.+&*-.3%*/)+&0&."%-(*$&-2&*"#$&*.$2%)"2,"2*"&)-$2,+& %"& E/2)-($& $(& ).")/#/"2*+& ,"%#",/,+& ,"& (+%& )"2*.+%& *-.3%*/)+%;&)+#+&"%)$($&,"(&,"%$..+((+&(+)$(A&'/2&"#U$.W+;&(+%&"%*-,/+%&M-"&."($)/+b2$2&"(&*-./%#+&%:(+&*+#$2&"2&)-"2*$&"(&2`#".+&,"&*.$U$G+%&0&2+&($&)$(/b,$,&,"&(+%&"#R("+%&79"2$bF+M-"*"&0&95."Lb@$)$(;&<=><8A
1(&U"2"I/)/+&#V%&,/.")*+&,"(&,"%$..+((+&*-.3%*/)+&"%&($&)."$)/:2&,"&"#bR("+%A&[+&"%&R+%/U("&W"2".$.&,"%$..+((+&*-.3%*/)+&%/2&"#R("$.&#V%&W"2*"a&-2&$(*+&2`#".+&,"&"#R("+%& %/W2/I/)$&#V%& /2W."%+%& 0*$& %-& E"L&#$0+."%&W$%*+%&7!+$,".;&<=>>8A&P$&$)*/E/,$,&*-.3%*/)$&"%&W"2".$,+.$&,"&"#R("+&0&R+%""&E"2*$G$%&."($*/E$%;&%/&%"&($&)+#R$.$&)+2&+*.$%&$)*/E/,$,"%&")+2:#/b)$%A&�%*$&"%&($&.$L:2&R+.&($&)-$(&S$&%/,+&-2+&,"&(+%&R./2)/R$("%&+UG"*/E+%&"2&E$./$%&."W/+2"%&"2&E3$%&,"&,"%$..+((+;&R$.$&%-%&L+2$%&,"R./#/,$%&7F+%)S;&'-V."L&0&n(/E$."%;&<==?8A
!/2+))+&7<==N8&."%-#"&($%&E"2*$G$%&")+2:#/)$%&,"&($&$)*/E/,$,&*-.3%b*/)$;&R+2/"2,+&52I$%/%&"2&($&W"2".$)/:2&,"&"#R("+a&%/2&"#U$.W+;&,"%*$)$&-2$&,"%/W-$(,$,&,"&/2W."%+%&"2*."&,/I"."2*"%&)+#-2/,$,"%;&"(&,"%R($L$b#/"2*+&,"&*.$U$G$,+."%&,"&%")*+."%&*.$,/)/+2$("%&$&($&$)*/E/,$,&*-.3%*/)$&0&(+%&U$G+%&2/E"("%&%$($./$("%&+U*"2/,+%&R+.&(+%&*.$U$G$,+."%A
:<+"&%*V\"2*$G$%&0&,"%E"2*$G$%&")+2:#/)$%&,"(&*-./%#+
M)($+U+1 [)1D)($+U+1Q2I.$"%*.-)*-.$&I3%/)$ @/%*./U-)/:2&,"%/W-$(&,"&(+%&/2W."%+%&W"2".$,+%&R+.&"(&
*-./%#+;&*$2*+&$&2/E"(&W"2".$(&)+#+&,"&($%&)+#-2/,$,"%]"2".$)/:2&,"&"#R("+%& P$&"2*.$,$&,"&,/E/%$%&)+#+&."%-(*$,+&,"&($&$)*/E/,$,&
*-.3%*/)$&"% /#$&R+.&"(&R$M-"*"&*+,+&/2)(-/,+Q2)."#"2*+&0&R".I"))/+2$#/"2*+&,"&($&$.*"%$23$&2$)/+2$(
@"%R($L$#/"2*+&,"&($&#$2+&,"&+U.$&,"(&%")*+.&$W.3)+($&$(&*-./%#+
!")2+(+W3$&$E$2L$,$&"2&($&)+#-2/)$)/:2
H+#R"*"2)/$&,"&R.+,-)*+%&"6*.$2G".+%&)+2&(+)$("%
[/E"(&%$($./$(&U$G+&"2&."($)/:2&)+2&($%&$(*$%&W$2$2)/$%&M-"&W"2".$&"(&*-./%#+
i-"2*"Y&"($U+.$)/:2&R.+R/$&$&R$.*/.&,"&!/2+))+&7<==N8A
XX
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
1(&*-./%#+&%"&.")+2+)"&)+#+&-2&%")*+.& /2*"2%/E+&"2&#$2+&,"&+U.$&79$/%;& <==d8A&P$&2$*-.$("L$&,"(& %")*+.& "%& *$(& M-"&"(&#-(*/R(/)$,+.& 0& (+%&1;#55Z%D)&1&%"&"%R".$&M-"&%"$2&#V%&W.$2,"%&M-"&"2&+*.+%&%")*+."%A&1(&*-b./%#+&*$#U/52&W"2".$&"#R("+&R$.$& *.$U$G$,+."%&"2& *+,+%& (+%&2/E"("%&0&S$U/(/,$,"%A&12&"%*"&*"2+.;&(+%&1;#55Z%D)&1&+)-.."2&)-$2,+&($&$I(-"2)/$&,"&*-./%*$%&/2)."#"2*$&($&,"#$2,$&,"&(+%&U/"2"%&0&%".E/)/+%&(+)$("%;&0$&%"$&R+.&"(&W$%*+&,/.")*+&+&/2,/.")*$#"2*"&$&R$.*/.&,"&(+%&"I")*+%&#-(*/R(/)$,+b."%&7p$,/0$(/&0&p+%+EV;&<=>N8A
9+.& %-&R$.*";&F")"..$& 7<==X8& %"f$($&M-"&"(& *-./%#+&W"2".$&"#R("+&(+)$(&,"&#$2".$&,/.")*$&"2&"(&R.+R/+&%")*+.;&$%3&)+#+&*$#U/52&"2&,/E".%+%&%")*+."%&,"&$R+0+&0&,"&W"%*/:2&,"&.")-.%+%a&$,"#V%&,"&"%*/#-($.&/2,-%b*./$%&2$)/+2$("%&."2*$U("%Y&S+*"("%&0&+*.$%&/2%*$($)/+2"%&,"&$(+G$#/"2*+;&."%*$-.$2*"%& 0& +*.+%& %".E/)/+%& ,"& $(/#"2*$)/:2;& %/%*"#$%& ,"& *.$2%R+.*";&$.*"%$23$%&0&%".E/)/+%&,"&W-3$a&/#R-(%$&*$#U/52&#"G+.$%&"2&"(&*.$2%R+.*";&"2& ($%& *"(")+#-2/)$)/+2"%&0&"2&+*.$%& /2I.$"%*.-)*-.$%&)+#-2/*$./$%&UVb%/)$%a&W"2".$&/2%*$($)/+2"%&,"&"%R$.)/#/"2*+&M-"&R-","2&%".&-%$,$%&R+.&($%&)+#-2/,$,"%&(+)$("%&+&R+.&(+%&E/%/*$2*"%&72$)/+2$("%&0h+&"6*.$2G".+%8a&$,"#V%;&"%*/#-($&0&)+2*./U-0"&$&)+%*"$.&($&)+2%".E$)/:2&,"&(+%&0$)/#/"2b*+%;&",/I/)/+%&0&U$../+%&S/%*:./)+%A
F+%)S;& '-V."L& 0& n(/E$."%& 7<==?8;& %/W-/"2,+& $& 4$*S/"2%+2& 0& �$((&7>XX=8;&"%*$U(")"2&*."%&*/R+%&,"&"#R("+%&M-"&%+2&W"2".$,+%&R+.&($&$)*/bE/,$,Y&,/.")*+%;&/2,/.")*+%&"&/2,-)/,+%A&P+%&R./#".+%&%+2&."%-(*$2*"%&,"&(+%&/2W."%+%&W"2".$,+%&R+.&($&R."%*$)/:2&,"&%".E/)/+%&*-.3%*/)+%&UV%/)+%&0&)+#R("#"2*$./+%&,"(&*-./%#+;&)+#+&%+2&$(+G$#/"2*+;&$(/#"2*$)/:2;&"%bR$.)/#/"2*+;&*.$2%R+.*"&*-.3%*/)+&0&$W"2)/$%&,"&E/$G"%A&
1(& "#R("+& /2,/.")*+& %"& )+2I+.#$& R+.& $M-"((+%& R-"%*+%& ,"& *.$U$G+&W"2".$,+%&R+.&$)*/E/,$,"%&,"&(+%&R.+E"",+."%&,"&(+%&%".E/)/+%&UV%/)+%&0&)+#R("#"2*$./+%A&12&*$2*+&M-"&"(&/2,-)/,+&"%&"(&W"2".$,+&)+#+&)+2%"b)-"2)/$&,"(&"I")*+&#-(*/R(/)$,+.&,"(&W$%*+&*-.3%*/)+&"2&"(&)"2*.+&.")"R*+.;&M-"&."$(/L$2&(+%&.")-.%+%&S-#$2+%&."($)/+2$,+%&)+2&($&$)*/E/,$,A&F")"..$&7<==X8&$W."W$&$&"%*$& )$.$)*"./L$)/:2&-2$&)-$.*$& )$*"W+.3$&,"2+#/2$,$&"#R("+%&*"#R+.$("%;&,"I/2/52,+(+%&)+#+&$M-5((+%&W"2".$,+%&,-.$2*"&($&)+2%*.-))/:2&,"&/2I.$"%*.-)*-.$;&*$("%&)+#+&S+*"("%;&."%*$-.$2*"%;&&)1%&$1&*-.3%*/)+%;&"2*."&+*.+%A
_&2/E"(&/2*".2$)/+2$(&(+%&"%*-,/+%&"#R3./)+%&%+U."&($&."($)/:2&"#R("+&0&*-./%#+&%+2&,/I"."2)/$,+%;&"2*."&"((+%;&"(&*.$U$G+&,"&p$,/0$(/&0&p+%+EV&7<=>N8&$2$(/L$&"(&/#R$)*+&,"&(+%&I(-G+%&*-.3%*/)+%&"2&?N&V."$%&#"*.+R+(/b*$2$%& ,"&1%*$,+%&D2/,+%;& *+#$2,+& )+#+&R.+60& ($& +)-R$)/:2&S+*"(".$&"2&"(&"#R("+&(+)$(&,"&$)*/E/,$,"%&)+#R("#"2*$./$%&,"(&%")*+.a&R$.$&"((+&
>==
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
-*/(/L$2&,$*+%&#/).+")+2:#/)+%&0&*5)2/)$%&,"&R$2"(&,"&,$*+%a&"2)-"2*.$2&M-"&"6/%*"2&"I")*+%&R+%/*/E+%&"2&($%&/2,-%*./$%&*-.3%*/)$%&)+#R("#"2*$./$%;&%-W/./"2,+&M-"&R+.&)$,$&>==&S$U/*$)/+2"%&+)-R$,$%&%"&W"2".$2&"2*."&,+%&0&)/2)+&"#R("+%A
n(/E$&0&')S"G*".&7<==d8&$2$(/L$2&.$#$%&)$.$)*".3%*/)$%&,"(&%")*+.&*-.3%b*/)+&"2&_.W"2*/2$&$&R$.*/.&,"&"2)-"%*$%&+I/)/$("%a&"2)-"2*.$2&M-"&"6/%*"2&,/E".%$%&#"*+,+(+W3$%&"2&($&+U*"2)/:2&,"&($&/2I+.#$)/:2;&$-2&)-$2,+&%+2&)+2I/$U("%;&,"U".3$2&"%*$.&)+2*./U-0"2,+&$&+./"2*$.&($%&R+(3*/)$%&*-.3%*/)$%&"2&($&%+(-)/:2&,"&R.+U("#$%&%+)/$("%;&)+#+&"(&,"%"#R("+A&!$#U/52&R$.$&_.W"2*/2$&%"&$2$(/L$&($&."($)/:2&*-./%#+&0&"#R("+&,"%,"&"(&#".)$,+&S+*"b(".+;&U-%)$2,+&)+2+)".&"(&)+#R+.*$#/"2*+&0&"%*$)/+2$(/,$,&,"(&#".)$,+&,"&*.$U$G+&$&R$.*/.&,"&($&+)-R$)/:2&S+*"(".$;&"2)+2*.$2,+&-2$&)$.$)*"./bL$)/:2&,"&(+)$(/,$,"%&"2*."&")+2+#3$%&)+2&R".I/("%&,/E".%/I/)$,+%&0&(+)$b(/,$,"%&#".$#"2*"&*-.3%*/)$%&7F")"..$;&<==X8A
9$.$&($&")+2+#3$&,"&Q2,/$;&9$/%&7<==d8&$2$(/L$&($%&/#R(/)$)/+2"%&M-"&*/"2"&"(&*-./%#+&"2&"(&"#R("+&$&R$.*/.&,"&($&"%*/#$)/:2&,"&)+"I/)/"2*"%;&#$*./)"%&/2%-#+bR.+,-)*+&0&$2V(/%/%&,"&"M-/(/U./+&W"2".$(a&(+%&."%-(*$,+%&/2,/)$2&M-"&R+.&)$,$&>=�===;===&,"&.-R/$%&7).+."8&W$%*$,+%&R+.&(+%&*-./%b*$%;&"2*."&>XXNbX?&%"&W"2".$.+2&KO?&"#R("+%;&"2&*$2*+&M-"&"2*."&<==?b=K&I-".+2&NXN&"#R("+%A
12&"(&)$%+&"%R")3I/)+&,"&456/)+&%"&S$2&."$(/L$,+&"%*-,/+%&,"&)$.V)*".&."W/+2$(a&%/2&"#U$.W+;&"(&$U+.,$G"&M-"&%"&("&S$&,$,+&$&"%*$&."($)/:2&S$&%/,+&,"%,"&($&)$(/,$,&,"(&"#R("+;&)+2,/)/+2"%&($U+.$("%&0&$&R$.*/.&,"&)$b%+%&"%R")3I/)+%&74V.M-"L;&>XXda&P"0E$;&H$.+&0&95."L;&<=>=a&H.-L;&j-V."L;&D.)/$W$&0&B-/L;&<=>?8A&P$&/2I+.#$)/:2&,"&)$.V)*".&)-$2*/*$*/E+&"2&"%*$&."($)/:2&%"&"2)-"2*.$&"2&I-"2*"%&+I/)/$("%&)+#+&($&'")."*$.3$&,"&!-./%#+&7'")*-.8&0&$Q#(YZ$+(Y1*)+#+&"(&Q2%*/*-*+&4"6/)$2+&,"&($&H+#R"*/*/E/,$,&7&4,"8&M-"&%"f$($&M-"&"(&*-./%#+&."R."%"2*$&($&)-$.*$&I-"2*"&,"&/2W."%+%&/2*".2$)/+2$("%;&W"2".$&Xe&,"(&/&(&2$)/+2$(&0&"#R("$&,"&#$2".$&,/.")b*$&$&ZANe&,"& ($&R+U($)/:2&+)-R$,$&7&4,";&<=>N8A&\$("&,"%*$)$.&M-"&"2&"(&R$3%&($&"%*.-)*-.$&")+2:#/)$&"%*V&)+2I+.#$,$&R+.&#/).+;&R"M-"f$%&0&#",/$2$%&"#R."%$%&M-"&."R."%"2*$2&XXAOe&,"&($%&"#R."%$%;&#/%#$%&M-"&W"2".$2&OdANe&,"(&"#R("+&*+*$(&,"(&%")*+.&0&%:(+&.")/U"2&dXA<e&,"&(+%&/2W."%+%&*+*$("%&7'")*-.;&<=>N8A
V=^=*R<,%*)(*-2.#/%
1(& *-./%#+& "2&456/)+& S$& %/,+& )$(/I/)$,+& )+#+& -2& %")*+.& ,/2$#/L$,+.&,"&($&")+2+#3$&R+.&($&$R+.*$)/:2&M-"&S$)"&$(&/&(A&H.-L;&j-V."L;&D.)/$W$&
>=>
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
0&B-3L& 7<=>?8&,+)-#"2*$2&M-"&$-*+."%& )+#+&F"2%"0& 7<==Z8;&B$#3."L&7<==d8& 0&P:R"L& 7<==<8& )+/2)/,"2& "2& ($& /#R+.*$2)/$& ,"(& %")*+.& $& R$.*/.&,"(&"#R("+&M-"&W"2".$2;&($&(("W$,$&,"&*-./%*$%;&($&,/E".%/,$,&"2&($&+I".*$&,"& R.+,-)*+%& *-.3%*/)+%;& I(-G+%& ,"& R+U($)/:2;& 0&#".)$2)3$%;& "2*."& +*.+%&I$)*+."%A
12&"%*"&%"2*/,+;&"(&]+U/".2+&I",".$(&S$&"%*$U(")/,+&)+#+&+UG"*/E+&"(&,"%$..+((+&,"(&%")*+.A&P$&$,#/2/%*.$)/:2&,"(&R."%/,"2*"&H$(,".:2&7<==db<=><8&R($2*"$U$&($&2")"%/,$,&,"&M-"&"(&R$3%&(+W.$.$&R+%/)/+2$.%"&"2&(+%&R./#".+%&(-W$."%&,"&$)*/E/,$,&*-.3%*/)$&$&2/E"(&/2*".2$)/+2$(;&$&R$.*/.&,"&($&,/E".%/I/)$)/:2&,"&R.+,-)*+%&0&#".)$,+%;&$%3&)+#+&"(&$-#"2*+&,"&($&)+#bR"*/*/E/,$,&"2&($%&"#R."%$%&,"(&%")*+.A&12*."&($%&"%*.$*"W/$%&R$.$&$()$2L$.&"%*"&+UG"*/E+&%"&R($2*"$U$&S$)".&,"(&%")*+.&-2$&R./+./,$,&2$)/+2$(;&R+b2/"2,+&52I$%/%&"2&M-"&"%*$&$)*/E/,$,&R-","&%".&,"*+2$,+.$&,"(&,"%$..+((+&."W/+2$(h(+)$(;&W"2".$,+.&,"&"#R("+&0&)+#+&"%*.$*"W/$&,"&)+#U$*"&$&($&R+U."L$A
12& ($&$)*-$(&$,#/2/%*.$)/:2& 79"f$&[/"*+&<=><b<=>O8&"(&+UG"*/E+&"2&."($)/:2&)+2&"(&*-./%#+&2+&"%&,/I"."2)/$,+&$&($&$2*"./+.;&U-%)$2,+&$&R$.*/.&,"&5(&W"2".$.&-2$&#$0+.&,"..$#$&")+2:#/)$&M-"&%"&*.$,-L)$&"2&U/"2"%b*$.&%+)/$(&$&R$.*/.&,"&(+%&/2W."%+%&*-.3%*/)+%a&$%/#/%#+;&U-%)$&/#R-(%$.&"(&$-#"2*+&,"&($&)+#R"*/*/E/,$,&0&"(&I/2$2)/$#/"2*+&,"(&%")*+.A
:<+"&%*^456/)+Y&+UG"*/E+%&,"&R+(3*/)$&R`U(/)$&"2&."($)/:2&)+2&"(&*-./%#+
E",#(#1$&+/#?(*\)")&+5
^__eZ^_V^ ^_VXZ^_VinUG"*/E+&><A&c$)".&,"&456/)+&-2&R$3%&(3,".&"2&($&$)*/E/,$,&*-.3%*/)$&$&*.$E5%&,"&($&,/E".%/I/)$)/:2&,"&#".)$,+%;&R.+,-)*+%&0&,"%*/2+%&$%3&)+#+&"(&I+#"2*+&$&($&)+#R"*/*/E/,$,&,"&($%&"#R."%$%&,"(&%")*+.&,"&I+.#$&M-"&U./2,"2&-2&%".E/)/+&,"&)$(/,$,&/2*".2$)/+2$(A
nUG"*/E+&?A>>A&_R.+E")S$.&"(&R+*"2)/$(&*-.3%*/)+&,"&456/)+&R$.$&W"2".$.&-2$&#$0+.&,"..$#$&")+2:#/)$&"2&"(&R$3%A
1%*.$*"W/$&><A>A&c$)".&,"(&*-./%#+&-2$&R./+./,$,&2$)/+2$(&R$.$&W"2".$.&/2E".%/+2"%;&"#R("+%&0&)+#U$*/.&($&R+U."L$&"2&($%&L+2$%&)+2&$*.$)*/E+%&*-.3%*/)+%&)+#R"*/*/E+%A&
1%*.$*"W/$&?A>>A>A&Q#R-(%$.&"(&+.,"2$#/"2*+&0&*.$2%I+.#$)/:2&,"(&%")*+.&*-.3%*/)+A
>=<
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
E",#(#1$&+/#?(*\)")&+5
^__eZ^_V^ ^_VXZ^_Vi1%*.$*"W/$&><A<A&4"G+.$.&%-%*$2)/$(#"2*"&($&)+#R"*/*/E/,$,&0&,/E".%/I/)$)/:2&,"&($&+I".*$&*-.3%*/)$&2$)/+2$(;&W$.$2*/L$2,+&-2&,"%$..+((+&*-.3%*/)+&%-%*"2*$U("&0&"(&+.,"2$#/"2*+&*"../*+./$(&/2*"W.$(A&
1%*.$*"W/$&?A>>A<A&Q#R-(%$.&($&/22+E$)/:2&,"&($&+I".*$&0&"("E$.&($&)+#R"*/*/E/,$,&,"(&%")*+.&*-.3%*/)+A
1%*.$*"W/$&><ANA&@"%$..+(($.&R.+W.$#$%&R$.$&R.+#+E".&($&)$(/,$,&,"&(+%&%".E/)/+%&*-.3%*/)+%;&($&%$*/%I$))/:2&0&%"W-./,$,&,"(&*-./%*$A
1%*.$*"W/$&?A>>ANA&i+#"2*$.&-2&#$0+.&I(-G+&,"&/2E".%/+2"%&0&I/2$2)/$#/"2*+&"2&"(&%")*+.&*-./%#+&0&($&R.+#+)/:2&"I/)$L&,"&(+%&,"%*/2+%&*-.3%*/)+%A
1%*.$*"W/$&><A?A&_)*-$(/L$.&0&I+.*$(")".&"(&#$.)+&2+.#$*/E+&,"(&%")*+.&*-./%#+A1%*.$*"W/$&><AKA&i+.*$(")".&(+%&#".)$,+%&"6/%*"2*"%&0&,"%$..+(($.&2-"E+%&#".)$,+%A
1%*.$*"W/$&?A>>A?A&Q#R-(%$.&($&%-%*"2*$U/(/,$,&0&M-"&(+%&/2W."%+%&W"2".$,+%&R+.&"(&*-./%#+&%"$2&I-"2*"&,"&U/"2"%*$.&%+)/$(A
1%*.$*"W/$&><AdA&_%"W-.$.&-2&,"%$..+((+&*-.3%*/)+&/2*"W.$(A
i-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#$)/:2&,"(&9($2&[$)/+2$(&,"&@"%$..+((+&<==Zb<=><&0&9.+W.$#$&'")*+./$(&,"&!-./%#+&<=><b<=>Z;&'")*-.A
12&."($)/:2&)+2&"(&"#R("+;&($&H-"2*$&'$*5(/*"&,"&!-./%#+&+I.")"&/2I+.#$b)/:2&*"#R+.$(&."%R")*+&$(&*+*$(&,"(&%")*+.&"2*."&<==N&0&<=>>A&12&"(&)$%+&,"&(+%&R-"%*+%&,"&*.$U$G+&W"2".$,+%&R+.&(+%&%".E/)/+%&."($)/+2$,+%&)+2&"(&*-./%#+;&."W/%*.$.+2&-2&*$%$&,"&).")/#/"2*+&R.+#",/+&$2-$(&,"&>ANZe;&"2&*$2*+&M-"&($%&#/%#$%&$)*/E/,$,"%&$%+)/$,$%&$(&*-./%#+&."W/%*.$.+2&"2&*+*$(&-2$&*$%$&,"&).")/#/"2*+&#",/+&$2-$(&,"&=A?Oea&%/2&"#U$.W+;&"(&"#R("+&."W/%*.$,+& "2& */"#R+%& )+#R$.*/,+%& R."%"2*:& -2& ,"%"#R"f+& ,"(& +.,"2&,"&KAZNe&R.+#",/+&$2-$(a&#/"2*.$%&M-"& (+%&"#R("+%&."($)/+2$,+%&)+2&+*.+%&U/"2"%&*-.3%*/)+%&."W/%*.$.+2&-2$&)$3,$&,"&NA==e&R.+#",/+&$2-$(A&1%& /#R+.*$2*"&S$)".&2+*$.&M-"& ($&)./%/%&")+2:#/)$& /2*".2$)/+2$(&."W/%b*.$,$&"2&<==O&*-E+&."R".)-%/:2&"2&<==X;&)-$2,+&"(&"#R("+&,"(&*+*$(&,"(&R$3%&."W/%*.:&-2$&)$3,$&."%R")*+&$(&$f+&$2*"./+.&,"&NAdea&"(&"#R("+&*-.3%b*/)+&,/%#/2-0:&"2&<ANe;&%/"2,+&($%&$.*"%$23$%&($&$)*/E/,$,&#V%&)$%*/W$,$;&)+2&-2$&,/%#/2-)/:2&"2&"(&"#R("+&,"&OANea&($&`2/)$&$)*/E/,$,&*-.3%*/)$&M-"&."W/%*.:&-2&$-#"2*+&"2&"(&"#R("+&"2&"%"&R"./+,+&I-"&*/"#R+%&)+#bR$.*/,+%;&)+2&-2$&E$./$)/:2&,"&N<A>e&."%R")*+&$&<==O;&$)*/E/,$,&M-"&"2&*5.#/2+%&."($*/E+%&%:(+&."R."%"2*$&=ANXe&,"(&*+*$(&,"(&"#R("+&*-.3%*/)+A
>=N
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
8&L\#/+*V456/)+Y&R-"%*+%&,"&*.$U$G+&."#-2".$,+%&"2&"(&%")*+.&*-.3%*/)+
'&%"&."I/"."&$&/2I+.#$)/:2&R."(/#/2$.Ai-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#$)/:2&,"&&3$-&:%#,34A&H-"2*$&'$*5(/*"&,"&!-./%#+A
P$&H-"2*$&'$*5(/*"&,"&!-./%#+& *$#U/52&$..+G$& /2I+.#$)/:2& ."%R")*+&$&($&R.+,-)*/E/,$,&,"&($%&$)*/E/,$,"%&*-.3%*/)$%;&."($)/+2$2,+&"(&E$(+.&$W."bW$,+&0&(+%&R-"%*+%&,"&*.$U$G+&+)-R$,+%&."#-2".$,+%a&"2*."&<==N&0&<=>>&($&R.+,-)*/E/,$,&,"&($%&$)*/E/,$,"%&)$.$)*".3%*/)$%&*-E+&-2$&*$%$&,"&).")/b#/"2*+&R.+#",/+&$2-$(&,"&>Ade;&"%&,")/.&R$%$.+2&,"&�d>;>Z=&$&�ZZ;>Zd&#/((+2"%&,"&R"%+%a&%/2&"#U$.W+;&($&R.+,-)*/E/,$,&"2&"(&*.$2%R+.*"&7$5."+;&*".."%*.";&*-.3%*/)+;&"*)A8&*-E+&-2&$-#"2*+&,"&OANde&R.+#",/+&$2-$(;&"2&*$2*+&M-"&($&#"2+.&,/2V#/)$&,"&).")/#/"2*+&,"&($&R.+,-)*/E/,$,&%"&."W/%b*.:&"2&(+%&%".E/)/+%&,"&$(+G$#/"2*+A
P+%& U/"2"%& 0& %".E/)/+%& )+2"6+%& ,"(& *-./%#+;& R+.& %-& R$.*";& ."W/%*.$b.+2&,"&#$2".$&$W."W$,$&-2&$-#"2*+&,"&($&R.+,-)*/E/,$,&,"(&"#R("+&,"&?ANXe&R.+#",/+&$2-$(a&,"&#$2".$&R$.*/)-($.;&($%&$.*"%$23$%&*-E/".+2&-2&$-#"2*+&,"&($&R.+,-)*/E/,$,&,"(&+.,"2&,"&KA??e&R.+#",/+&$2-$(;&R$%$2b,+&,"&�>X;=dZ&"2&<==N&$&�<=;NZd&#/((+2"%&,"&R"%+%&"2&<=>>A&P$&R.+,-)*/bE/,$,&"2&(/U.+%;&R"./:,/)+%&0&."E/%*$%&."W/%*.:&-2$&)$3,$&,"&($&R.+,-)*/E/b,$,&R.+#",/+&$2-$(&,"&<ANOeA
>=?
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
8&L\#/+*^456/)+Y&32,/)"&,"&R.+,-)*/E/,$,&,"&($&#$2+&,"&+U.$&"2&($&R.+,-))/:2&
,"&U/"2"%&0&%".E/)/+%&)$.$)*".3%*/)+%&,"(&*-./%#+74/("%&,"&R"%+%8
'&%"&."I/"."&$&,$*+&R."(/#/2$.Ai-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#$)/:2&,"&&3$-&:%#,34A&H-"2*$&'$*5(/*"&,"&*-./%#+A
_-2M-"&"%*$&/2I+.#$)/:2&."%-(*$&."("E$2*"&R$.$&,"*".#/2$.&($&/#R+.*$2b)/$&,"& ($%&$)*/E/,$,"%&")+2:#/)$%&M-"&)+2I+.#$2&"(& %")*+.& *-.3%*/)+;&"(&2/E"(&,"&,"%$W."W$)/:2&M-"&+I.")"&"%&(/#/*$,+;&R+.&"((+&%"&-*/(/L$&/2I+.b#$)/:2&,"& (+%&H"2%+%&1)+2:#/)+%;&M-"&$&R$.*/.&,"& ($&",/)/:2&,"&<==?&W"2".$&,$*+%&,"(&%")*+.&*-.3%*/)+;&$-2M-"&)+2&($&,"%E"2*$G$&,"&M-"&%:(+&%"&+U*/"2"2&,$*+%&,"&"%*$&I-"2*"&)$,$&)/2)+&$f+%A
12*."&<==N&0&<==O;& ($&$R+.*$)/:2& ."($*/E$&,"(& %")*+.& *-.3%*/)+&$(& *+b*$(&2$)/+2$(&"2&."($)/:2&)+2&"(&2`#".+&,"&-2/,$,"%&")+2:#/)$%&."W/%*.:&-2&$-#"2*+&,"&dA<&0&<AXe&."%R")*+&$(&R".%+2$(&+)-R$,+a&."%R")*+&$&($&$R+.*$)/:2&M-"&S$)"&"(&%")*+.&"2&."#-2".$)/+2"%&0&E$(+.&$W."W$,+;&%:(+&I-".+2&,"&=AX&0&=A>e;&."%R")*/E$#"2*"A&1(&%")*+.&M-"&."W/%*.:&($&#$0+.&R$.*/)/R$)/:2&I-"&"(&."($)/+2$,+&)+2&(+%&%".E/)/+%&,"&$(+G$#/"2*+&*"#R+b.$(&0&R."R$.$)/:2&,"&$(/#"2*+%&0&U"U/,$%;&."R."%"2*$2,+&"2&<==N&$R.+b6/#$,$#"2*"&K=e&,"(&*+*$(&2$)/+2$(&"2&($%&E$./$U("%;&$-#"2*$2,+&"%*$&R$.*/)/R$)/:2&"2&<==O&$&dZe;&(+&)-$(&R-","&%".&"6R(/)$,+&R+.&($&#$0+.&R."%"2)/$&,"&"%*$%&-2/,$,"%&")+2:#/)$%&"2&%/*/+%&*-.3%*/)+%A&'/2&"#U$.W+;&"(&%")*+.&M-"&*-E+&-2$&#$0+.&E$./$)/:2&."%R")*+&$&%-&$R+.*$)/:2&."($*/E$&
>=K
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
$(&*+*$(&2$)/+2$(;&I-"&"(&%")*+.&/2#+U/(/$./+&0&,"&$(M-/(".&,"&U/"2"%;&."W/%b*.$2,+&-2$&E$./$)/:2&R+%/*/E$&"2*."&$#U+%&)"2%+%&,"(&+.,"2&,"&<Z;&<XAX;&Nd&0&NOAZ&R-2*+%&R+.)"2*-$("%&"2&-2/,$,"%&")+2:#/)$%;&R".%+2$(&+)-R$b,+;&."#-2".$)/+2"%&0&E$(+.&$W."W$,+;&."%R")*/E$#"2*"A&12&*$2*+&M-"&"(&%")*+.&M-"&."W/%*.:& ($&#$0+.&R5.,/,$&I-"&"(&,"&+*.+%&%".E/)/+%;&)+2&-2$&.",-))/:2&,"&>=AX;&>?A?;&>XA<&0&<=AZ&R-2*+%&R+.)"2*-$("%&"2&($%&#/%#$%&E$./$U("%;&."%R")*/E$#"2*"A
8&L\#/+*X456/)+Y&32,/)"&,"&R.+,-)*/E/,$,&,"&($&#$2+&,"&+U.$&
"2&($&R.+,-))/:2&,"&U/"2"%&0&%".E/)/+%&)+2"6+%&,"(&*-./%#+74/("%&,"&R"%+%8
'&%"&."I/"."&$&/2I+.#$)/:2&R."(/#/2$.Ai-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#$)/:2&,"&&3$-&:%#,34A&H-"2*$&'$*5(/*"&,"&!-./%#+A
P+%&H"2%+%&1)+2:#/)+%&*$#U/52&U./2,$2&($&+R+.*-2/,$,&,"&)+2+)".&($&"%*.-)*-.$&")+2:#/)$&,"(&%")*+.A&12&<==N;&XXANOe&,"&($%&"#R."%$%&".$2&#/).+;&R"M-"f$%&0&#",/$2$%&7#/R0#"%8;&+)-R$2,+&dZAdNe&,"(&R".%+2$(&+)-R$,+a& %/2& "#U$.W+;& "2& ."($)/:2& )+2& ($%& ."#-2".$)/+2"%& %:(+& .")/bU"2&?=A>Xe;&"2&E$(+.&$W."W$,+&$R+.*$2&KZA>e&0&"2&($&I+.#$)/:2&U.-*$&,"& )$R/*$(& I/G+& NXA?NeA& 9$.$& <==O& (+%& R+.)"2*$G"%& M-"& ."R."%"2*$2& ($%&#/R0#"%;&XXAdX;&ZZAXN;&KNAd;&d>ANO&0&NXA?Ne;&."%R")*/E$#"2*"A
>=d
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
:<+"&%*X456/)+Y&$R+.*$)/:2&."($*/E$&,"&(+%&%")*+."%&,"&$)*/E/,$,&
*-.3%*/)$&"2&"(&*+*$(&,"(&%")*+.&2$)/+2$(
>)/$%&*")*+/$#D#"+"*)/%(?,#/+^__X
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
H),<()&+Z/#%()1
M+5%&*+7&)7+"%
^__g ^__X ^__g ^__X ^__g ^__X ^__g! !+*$(&2$)/+2$( XAN >KAK XAK >NA? ZA< OA> KAZ KAO
'")*+.&?d
'")*+.&?d;&H+#".)/+&$(&R+.&#"2+.
XA> >NA< >?A= >XAK >XAO <ZA< >dA> <?A<
'")*+.&?Ob?X
'")*+.&?Ob?X;&!.$2%R+.*"%;&)+.."+%&0&$(#$)"2$#/"2*+
>?AZ >KAO N>A< >?A< ??A< <ZA? K<AX NOAN
'")*+.&K<
'")*+.&K<;&'".E/)/+%&I/2$2)/".+%&0&,"&%"W-.+%
><A= >=AZ >AO >A? =AO =AK =A? =AN
'")*+.&KN
'")*+.&KN;&'".E/)/+%&/2#+U/(/$./+%&0&,"&$(M-/(".&,"&U/"2"%&#-"U("%&"&/2*$2W/U("%
>NA? ?=A? >KAX ?KAO >ZAN KNAN <?A? dNA>
'")*+.&K?
'")*+.&K?;&'".E/)/+%&R.+I"%/+2$("%;&)/"2*3I/)+%&0&*5)2/)+%
<A? KAX =AX <A< =A< =A? =AN =Ad
'")*+.&Kd
'")*+.&Kd;&'".E/)/+%&,"&$R+0+&$&(+%&2"W+)/+%&0&#$2"G+&,"&,"%")S+%&0&%".E/)/+%&,"&."#",/$)/:2
XA? ZA? ?A> NA> <AO <A= dAZ ?Ad
'")*+.&d>
'")*+.&d>;&'".E/)/+%&",-)$*/E+%
=AZ dAZ dA= >NAK XA< >OA= XA? >XAN
'")*+.&Z>
'")*+.&Z>;&'".E/)/+%&,"&"%R$.)/#/"2*+;&)-(*-.$("%&0&,"R+.*/E+%;&0&+*.+%&%".E/)/+%&.")."$*/E+%
<=A< NXAO <dAO NXA= <ZA> N=AX N=A> <?AN
'")*+.&Z<
'")*+.&Z<;&'".E/)/+%&,"&$(+G$#/"2*+&*"#R+.$(&0&,"&R."R$.$)/:2&,"&$(/#"2*+%&0&U"U/,$%
N<A= KKAd ?ZAZ d?AX d=A= ZKAX KXAO Z<A?
'")*+.&O>
'")*+.&O>;&n*.+%&%".E/)/+%&"6)"R*+&$)*/E/,$,"%&W-U".2$#"2*$("%
<KAK >?Ad <dAX ><AK N=AN >>A> <ZAK dAO
i-"2*"Y&"%*$,3%*/)$%&,"& *-./%#+&)+2&U$%"&"2& (+%& ."%-(*$,+%&,"& (+%&H"2%+%&1)+2:#/)+%;&<==?;&<==X;%&3$-&=
>=Z
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
P$&,/I"."2)/$&"2*."&"(&2`#".+&,"&-2/,$,"%&")+2:#/)$%&$%3&)+#+&,"(&R".%+2$(& +)-R$,+&"2& ."($)/:2& )+2& ($%& ."#-2".$)/+2"%;& E$(+.& $W."W$,+&0&I+.#$)/:2&U.-*$&,"&)$R/*$(&I/G+&R-","&"6R(/)$.%"&"2&"(&%"2*/,+&,"&M-"&($&#$0+.&R$.*"&,"&($%&#/R0#"%&%+2&,"&)$.V)*".&I$#/(/$.;&)+2&-2$&#$0+.&R."%"2)/$&,"(& *.$U$G+&2+& ."#-2".$,+a&$%/#/%#+& ($%&"#R."%$%&W.$2,"%;&$(&*"2".&#$0+."%&/2E".%/+2"%;&R".#/*"2&+I.")".&U/"2"%&0&%".E/)/+%&)+2&-2&#$0+.&E$(+.&$W."W$,+;&$%3&)+#+&/2E".%/+2"%&,"&#$0+.&"2E".W$,-.$&R$.$&%-%&"#R."%$%A<
:<+"&%*f456/)+Y&"%*.-)*-.$&")+2:#/)$&."($*/E$&,"(&%")*+.&*-.3%*/)+&R+.&*$#$f+
ET%R+,+T%*),
;&)1+
6(#"+")1*
)/%(?,
#/+1
')&1%(+5*%/<;+"%
H),
<()&+/#%()1
M+5%&*+7&)7+"%*
4&<$%*/)(1+5
C%&,+/#?(*4&<$+*
")*/+;#$+5*\#U%
<==N !+*$( >==A== >==A== >==A== >==A== >==A==4/).+ XNAON ?>Ad? >KANK <NAKK >OAZ=9"M-"f$ ?AXZ >OAKd >ZA?< <NAZ< >OAXO4",/$2$ =AKO ZA?N ZA?< XAON XAKX].$2," =Ad< N<ANZ KXAO= ?<AX> K<AZN
<==O !+*$( >==A== >==A== >==A== >==A== >==A==4/).+ X?Ad= K>AZ? <<A=N <NAXO ><A<d9"M-"f$ ?AKK >XAN? <NA>O <KAX? >KA=N4",/$2$ =A?d dAOK OANX >>A?d ><A>?].$2," =ANX <<A=d ?dA?= NOAd< d=AKZ
i-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#$)/:2&,"&($%&1%*$,3%*/)$%&,"&*-./%#+&)+2&U$%"&"2&(+%&H"2%+%&1)+2:#/)+%;&<==?&0&<==X;&&3$-&A
<A& P$&)($%/I/)$)/:2&,"&($%&"#R."%$%&,"&$)-".,+&)+2&"(&2`#".+&,"&"#R("$,+%&"%*V&,$,$&$&R$.*/.&,"&($&R-U(/)$)/:2&M-"&%"&S/L+&"2&"(&[#+&#%*F\#/#+5*")*5+*C)")&+/#?(&"(&N=&,"&,/)/"#U."&,"&<==<A&P$%&#/).+"#R."%$%&%+2&,"&=&$&>=&"#R("$,+%&"2&/2,-%*./$;&)+#".)/+&0&%".E/)/+%a&R"M-"f$%&"#R."%$%&E$2&,"&>>&$&N=&"#R("$,+%&"2&)+#".)/+;&0&"2&#$2-I$)*-.$&0&%".E/)/+%&,"&>>&$&K=a&#",/$2$&E$&,"&N>&$&>==&"2&)+#".)/+&0&,"&K>&$&>==&R$.$&#$2-I$)*-.$&0&%".E/)/+%a&"2&*+,+%&(+%&%")*+."%&%"&)+2%/,".$&"#R."%$&W.$2,"&$&R$.*/.&,"&>=>&"#R("$,+%&7&3$-&;&<==?U8A
>=O
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
7(&F,63*.,43:&Q&9R6525:
1(& Q2%*/*-*+& [$)/+2$(& ,"& 1%*$,3%*/)$;& ]"+W.$I3$& "& Q2I+.#V*/)$& 7&3$-&8&%"f$($&M-"& ($&W"2".$)/:2&,"& /2I+.#$)/:2& *-.3%*/)$&"2&456/)+&)+#"2L:&,"%R-5%&,"&>XXd;&)-$2,+&($&"41&R-U(/):&"(&*".)".&U+..$,+.&,"&($&H-"2*$&'$*5(/*"&,"(&!-./%#+;&M-"&R".#/*/:&#",/.&($&/#R+.*$2)/$&,"(&%")*+.&*-.3%b*/)+&"2&($&")+2+#3$&2$)/+2$(;&R$.*/"2,+&,"(&)V()-(+&,"&$W."W$,+%&#$).+b")+2:#/)+%&%/#/($."%&$&(+%&/2)(-/,+%&"2&($&)+2*$U/(/,$,&2$)/+2$(A
P$&/2I+.#$)/:2&W"2".$,$&$&R$.*/.&,"&($&H-"2*$&'$*5(/*"&,"(&!-./%#+&"2&456/)+&7,#148&(+W.:&.",/#"2%/+2$.&"(&/#R$)*+&,"&($&$)*/E/,$,&*-.3%b*/)$;& )+#+& ($& )+2*./U-)/:2& $(& E$(+.& $W."W$,+&U.-*+&,"& ($& ")+2+#3$a& "(&.VR/,+&).")/#/"2*+&,"&($%&"6R+.*$)/+2"%&,"(&%")*+.a&($&,"#$2,$&W"2".$,$&,"&U/"2"%&0&%".E/)/+%a&($&/#R+.*$2)/$&,"(&*-./%#+&,+#5%*/)+;&$%3&)+#+&($&R.+,-)*/E/,$,&,"&($&/2,-%*./$&*-.3%*/)$A
_-2&)-$2,+&($&,#14&S$U3$&R.+R+.)/+2$,+&/2I+.#$)/:2&."("E$2*"&"2&"(&%")*+.;&"(&2/E"(&,"&$W."W$)/:2&2+&("&R".#/*3$&%".&-2&/2%*.-#"2*+&M-"&,"*".#/2$.$& ,"&#$2".$& )($.$& ($& %/*-$)/:2& ,"& ($& $)*/E/,$,& *-.3%*/)$;& $%3&)+#+&,+2,"&%"&+U%".E$.$2&($%&)$."2)/$%&0&+R+.*-2/,$,"%&,"&,"%$..+((+A&12&E/.*-,&,"&"((+;&($&'")*-.&0&"(&&3$-&&,")/,/".+2&$R.+E")S$.&($&$R(/)$)/:2&,"&(+%&H"2%+%&1)+2:#/)+%&<==?&0&*+#$2,+&)+#+&U$%"&($&,"(/#/*$)/:2&,"&$)*/E/,$,"%&")+2:#/)$%&0&V."$%&W"+W.VI/)$%&S")S$&R+.&($&'")*-.;&%"&W"2"b.$2&($%&"%*$,3%*/)$%&,"&*-./%#+&)+2&U$%"&"2&(+%&."%-(*$,+%&,"&(+%&H"2%+%&1)+2:#/)+%&7$1(+,$8A
12*."&(+%&+UG"*/E+%&,"&($%&$1(+,$&%"&"2)-"2*.$&($&W"2".$)/:2&,"&/2bI+.#$)/:2&."($*/E$&$&($%&-2/,$,"%&")+2:#/)$%&M-"&R$.*/)/R$2&"2&($&R.+bE/%/:2&,"&U/"2"%&0&%".E/)/+%&R$.$&"(&*-./%#+;&$&I/2&,"&$R+0$.&$&($&*+#$&,"&,")/%/+2"%&*$2*+&,"(&%")*+.&R`U(/)+&)+#+&R./E$,+a&$%3&)+#+&$&)+2+)".&,"&#$2".$&#V%&,"%$W."W$,$& ($&"%*.-)*-.$;& )+#R+%/)/:2&0& I-2)/+2$#/"2*+&,"&($%&-2/,$,"%&")+2:#/)$%&M-"&$R+0$2&$(&%")*+.&*-.3%*/)+A
P$%&$1(+,$&/2)(-0"2&($&/2I+.#$)/:2&,"&$)*/E/,$,"%&")+2:#/)$%&,"2+b#/2$,$%&)$.$)*".3%*/)$%&0&)+2"6$%&,"(&*-./%#+a&($%&R./#".$%&)+.."%R+2,"2&$&$M-5(($%&)-0$&R.+,-))/:2&%"&."I/"."&$&-2&U/"2&+&%".E/)/+&M-"&"2&$-%"2)/$&,"&E/%/*$2*"%&,"G$.3$2&,"&"6/%*/.;&"2&*$2*+&M-"&($%&%"W-2,$%&)+.."%R+2,"2&$&(+%&R.+,-)*+%&)+2%-#/,+%&R+.&E/%/*$2*"%&0&R.+E"",+."%&"2&)$2*/,$,"%&%/W2/I/)$*/E$%AN&@"&/W-$(&I+.#$;&($&+U*"2)/:2&,"&($&/2I+.#$)/:2&%:(+&)+2%/b
NA& 12&($%&$1(+,$&<==?&%"&/2)(-0".+2&>><&$)*/E/,$,"%;&,"&($%&)-$("%&N>&)+.."%R+2,3$2&$&)$.$)*".3%*/b)$%&0&O>&$&$)*/E/,$,"%&)+2"6$%A&12&*$2*+&M-"&R$.$&($%&$1(+,$&<=>?;&/2)(-/.V2&%:(+&N=&$)*/E/,$,"%&)$.$)*".3%*/)$%&0&ZX&)+2"6$%A
>=X
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
,".$&)+#+&,"%*/2+%&*-.3%*/)+%?&0&)/-,$,"%&)+2&R+U($)/:2&#$0+.&$&d==;===&S$U/*$2*"%A& _,/)/+2$(#"2*"& ($%& $1(+,$& /2)(-0"2& /2I+.#$)/:2& ,"& L+2$%&W"+W.VI/)$%& .-.$("%& M-"& %+2& *-.3%*/)$#"2*"& /#R+.*$2*"%;& ,"2+#/2$,$%&)+..",+."%&*-.3%*/)+%AK
_&R$.*/.&,"&"%*$&/2I+.#$)/:2;&0&%/W-/"2,+&(+%&R($2*"$#/"2*+%&,"&9$/%&7<==d8;&%"&"%*/#$&"(&)+"I/)/"2*"&,"(&"#R("+;&M-"&"%&($&*$%$&"2*."&"(&"#R("+&72`#".+&,"&*.$U$G+%8&0&"(&R.+,-)*+A&1(&)+"I/)/"2*"&"%&,"./E$,+&)+#+&-2&R.+#",/+&R+2,".$,+&,"&(+%&)+"I/)/"2*"%&,"&(+%&%")*+."%&0&%-U%")*+."%&"2&(+%&)-$("%&"(&"#R("+&"%&W"2".$,+&)+#+&."%-(*$,+&,"(&*-./%#+Ad
P$&"%*/#$)/:2&"%*V&,$,$&)+#+&%/W-"Y&%/&(&"%&"(&2`#".+&,"&*.$U$G$,+b."%&"#R("$,+%&"2&"(&%")*+.&#;&0&D&"%&"(&E$(+.&$W."W$,+&)"2%$(;&"2*+2)"%&"(&)+"I/)/"2*"&,"(&"#R("+&,"(&%")*+.&#&"%Y
12&*$2*+&M-"&"(&)+"I/)/"2*"&,"(&"#R("+&$W."W$,+&"%*V&,$,+&R+.Y
,+2,"&,&"%&"(&2`#".+& *+*$(&,"&%-U%")*+."%&M-"&)+2I+.#$2&"(& %")*+.&0&&"%&($&R+2,".$)/:2&,"(&%")*+.& #&0&,"R"2,"&,"(&*$#$f+a&R$.$&"%*"&)$%+&%"&,"./E$& ,"& ($& R$.*/)/R$)/:2& "2& "(& 2`#".+&,"&-2/,$,"%& ")+2:#/)$%A&P+%&R./2)/R$("%&%-R-"%*+%&,"&(+%&)-$("%&R$.*"&"%*$&"%*/#$)/:2&%+2&(+%&%/W-/"2b
?A& 9$.$&%".&)+2%/,".$,+&)+#+&,"%*/2+&*-.3%*/)+&"2&<==?;& %"&"%*$U(")/:&M-"&,"U".3$2&)+2*$.&)+2&$(W-2$&+&#V%&,"&($%&%/W-/"2*"%&)$.$)*".3%*/)$%Y&$8&)+2*$.&)+2&<;===&)-$.*+%&,"&S+*"(a&U8&%".&)$bR/*$(&,"&-2$&"2*/,$,&I",".$*/E$a&)8&%".&(+)$(/,$,&.")"R*+.$&,"&*-./%*$%&0&"6)-.%/+2/%*$%&,"&I+.#$&R"./:,/)$a&,8&%".&-2$&)/-,$,&,"&($&I.+2*".$&2+.*"&)+2&."W/%*.+&,"&#V%&,"&NAK&#/((+2"%&,"&E/%/*$%&/2*".2$)/+2$("%&$&456/)+&,-.$2*"&-2&$f+a&"8&R$.*/)/R$.&"2&$(W-2+&,"&(+%&R.+W.$#$%&,"&($&'")*-.&)+#+Y&4-2,+&4$0$;&F$..$2)$&,"(&H+U.";&H/-,$,"%&H+(+2/$("%;&i.+2*".$&[+.*"&0&H"2*.+%&,"&9($0$;&0&I8&)+2%*/*-/.&-2&)+#R("G+&*-.3%*/)+&/2*"W.$(#"2*"&R($2"$,+&R+.&"(&i+2,+&[$)/+2$(&,"&i+#"2*+&$(&!-./%#+A&9$.$&($%&$1(+,$&<=>?&%"&/2)(-0"&"2&(+%&R.+W.$#$%&,"&($&'")*-.&($&B-*$&,"&(+%&@/+%"%;&12&"(&H+.$L:2&,"&456/)+&0&9-"U(+%&4VW/)+%a&$%3&)+#+&)$.$)*".3%*/)$&$,/)/+2$(&%".&-2$&H/-,$,&9$*./#+2/+&,"&($&c-#$2/,$,A
KA& 12&<==?&%"&)+2*"#R($.+2Y&$8&!/G-$2$b12%"2$,$a&U8&1%)$(".$&[V-*/)$a&)8&'$2&F($%bH+#R+%*"($b[-"E+& \$(($.*$a& ,8& 9-".*+& \$(($.*$bF$S3$& ,"& F$2,".$%a& "8& H+%*$& _("W."a& I8& F$..$2)$%& ,"(&H+U.";&0&W8&H+..",+.&H$2)`2bB/E/".$&4$0$A&12&<=>?&%"&S$2&/2)(-/,+&,+%&)+..",+."%&#V%&-U/b)$,+%&"2&"(&"%*$,+&,"&n$6$)$;&,"2+#/2$,+%&'/"..$&[+.*"&0&H+%*$A
dA& _&,/I"."2)/$&,"&(+%&R($2*"$#/"2*+%&,"&9$/%&7<==d8;&%"&-*/(/L$&($&R+2,".$)/:2&."%R")*+&$(&2`#".+&,"&"%*$U(")/#/"2*+%&M-"&"6/%*"2&,"&)$,$&-2+&,"&(+%&%")*+."%;&0$&M-"&R$.$&($&")+2+#3$&#"6/)$2$&2+&%"&"2)-"2*.$&,/%R+2/U("&/2I+.#$)/:2&"2&($&$1(,$&%+U."&"(&R$*.:2&,"(&)+2%-#+&,"&(+%&*-./%*$%a&($&,#14!B?!-.*B*">/!*B>/!4"C1.$/+45"D!B4"!*$A/.E1D!B1"!C,*">*B!"1!+1$-/./AF*B%
>>=
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
*"%Y&$8&%"&$%-#"&M-"&*+,+%&(+%&U/"2"%&0&%".E/)/+%&R.+E/%*+%&$&(+%&*-./%*$%&I-".+2&R.+,-)/,+%&"2&"(&R$3%;&0&U8&"(&)+"I/)/"2*"&,"(&"#R("+&"%*/#$,+&"%&/W-$(&R$.$&*+,$%&($%&"#R."%$%&R+.&/W-$(A
9$.$& ($& "%*/#$)/:2& ,"& (+%& )+"I/)/"2*"%& ,"& "#R("+& %"& -*/(/L:& /2I+.b#$)/:2&,"&($%&1%*$,3%*/)$%&,"&*-./%#+&)+2&U$%"&"2&(+%&."%-(*$,+%&,"&(+%&H"2%+%&1)+2:#/)+%& <==?& 0& <==X& ,"(& &3$-&A& P$& /2I+.#$)/:2& $& 2/E"(& ,"&,+%&,3W/*+%&,"&$)-".,+&)+2&"(&'/%*"#$&,"&H($%/I/)$)/:2&,"&_)*/E/,$,"%&,"&_#5./)$&,"(&[+.*"&7#,&'38A
_,/)/+2$(#"2*";&%/W-/"2,+&(+%&R($2*"$#/"2*+%&,"&@$(-#;&P$-.%"2&0&\"%R$.W"2& 7>XXX8;& %"& )$()-($&"(& 32,/)"&,"&"%R")/$(/L$)/:2&2+.#$(/L$,+;&)-0$&E".%/:2&2+.#$(/L$,$&%"&"6R."%$&)+#+Y
,+2,"&(+%&%-U32,/)"%&#&0&>&%"&."I/"."2&$(&W.-R+&0&$(&%")*+.;&#/"2*.$%&M-"&!&0&]&S$)"2&$(-%/:2&$(&)$.V)*".&%")*+./$(&7*-.3%*/)+8&0&*+*$(&2$)/+2$(&,"&($& /2I+.#$)/:2;& ."%R")*/E$#"2*"A&9$.$&"((+& %"&-*/(/L$& /2I+.#$)/:2&,"& ($&$1(+,$& <==?& 0& <==X;& $& 2/E"(& ,"& )-$*.+&,3W/*+%& 7.$#$%8& ,"& $)-".,+& )+2&#,&'3A
12&"%*"&#/%#+&2/E"(&,"&,"%$W."W$)/:2&,"&($&/2I+.#$)/:2&0&R+.&*$#$bf+&,"&"#R."%$;&%"&"%*/#:&"(&*$#$f+&#",/+&,"&($&"#R."%$;&M-"&."($)/+2$&($%&R".%+2$%&+)-R$,$%&"2&"(&%")*+.&7P8&0&"(&2`#".+&,"&"%*$U(")/#/"2*+%&7[8;&$&I/2&,"&+U*"2".&"(&2`#".+&,"&*.$U$G$,+."%&2")"%$./+%&R$.$&($&+Ub*"2)/:2&,"(&R.+,-)*+;&M-"&,"&$)-".,+& )+2&B+#+&0&B"0"%& 7<===8;& "%*V&"6R."%$,+&)+#+Y
;(&<3:@46,25:
X=V=*!1$#,+/#?(*")5*/%)\#/#)($)*")5*),;5)%*b,'c
P$&"%*/#$)/:2&,"(&$,&%"&(("E:&$&)$U+&-*/(/L$2,+&,$*+%&,"(&R".%+2$(&+)-bR$,+&*+*$(&0&"(&E$(+.&$W."W$,+&77'8&W"2".$,+&R+.&)$,$&-2+&,"&(+%&%")*+."%&M-"&)+#R+2"2&($&$)*/E/,$,&*-.3%*/)$;&$%3&)+#+&"(&E$(+.&."($*/E+&M-"&."R."b%"2*$2&5%*+%&"2&"(&*+*$(&,"&(+%&"%*$U(")/#/"2*+%&)+#+&R+2,".$,+.A
P+%&."%-(*$,+%&#-"%*.$2&M-"&R$.$&<==N;&R+.&)$,$&>;===&R"%+%&W"2"b.$,+%&,"&E$(+.&$W."W$,+;&"(&%")*+.&M-"&."M-".3$&#$0+.&2`#".+&,"&*.$U$b
>>>
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
G$,+."%&".$&"(&O>&7)(32/)$%&,"&U"(("L$;&%".E/)/+%&,"&I+*+W.$I3$;&"2*."&+*.+%8;&-*/(/L$2,+&N>& *.$U$G$,+."%a& %"W-/,+&R+.&"(& %")*+.&,"& %".E/)/+%&R.+I"%/+b2$("%;&*5)2/)+%&0&)/"2*3I/)+%&"2&,+2,"&".$2&2")"%$./+%&<>&"#R("+%a&"2&."b($)/:2&)+2&(+%&%")*+."%&M-"&2")"%/*$U$2&"(&#"2+.&2`#".+&,"&R-"%*+%&,"&*.$U$G+&R+.&)$,$&>;===&R"%+%&,"&7';&%"&"2)-"2*.$2&(+%&%")*+."%&,"&*.$2%bR+.*"%;&)+.."+&0&$(#$)"2$#/"2*+;&$%3&)+#+&%".E/)/+%&/2#+U/(/$./+%&0&,"&$(M-/(".&,"&U/"2"%;&M-"&%:(+&2")"%/*$U$2&*."%A
9$.$&<==O&($&S/%*+./$&"%&R.V)*/)$#"2*"&($&#/%#$;&%:(+&."W/%*.V2,+%"&$(W-2$%& E$./$)/+2"%;& %/"2,+& ($%&#V%& /#R+.*$2*"%& "2& "(& %")*+.&,"& *.$2%bR+.*"%& 0& )+.."+%& ,+2,"&R$.$& W"2".$.& >;===& R"%+%& ,"&7'& "2& "%"& $f+& %"&."M-".3$2&%:(+&>A?&*.$U$G$,+."%a&0&"2&"(&%")*+.&,"&%".E/)/+%&I/2$2)/".+%&,"&*.$U$G+;&,+2,"&%"&."M-/./".+2&,+%&*.$U$,+."%&#V%&R+.&)$,$&>;===&R"%+%A
1%*$%&,/I"."2)/$%&"2*."& %")*+."%&M-"&)+#R+2"2& ($&$)*/E/,$,& *-.3%*/b)$&R-","2&"6R(/)$.&(+%&."%-(*$,+%&,"(&)+"I/)/"2*"&R+2,".$,+&,"(&"#R("+;&S$)/"2,+&2")"%$./+%&R$.$&<==N;&>;O?X&"#R("$,+%&R+.& )$,$&>;===&R"%+%&,"&7'a&"2&*$2*+&M-"&R$.$&<==O&I-".+2&2")"%$./+%&KOZ&"#R("+%&#V%A&P+%&."%-(*$,+%;&"2&)/".*$&#",/,$;&)+/2)/,"2&)+2&(+%&R($2*"$#/"2*+%&,"&n)"bW-",$& 7<=>=8& 0& "(&,&0',& 7<=>>8;& ,+2,"& %"& "%*$U(")"& M-"& S$& S$U/,+& -2&,")."#"2*+&,"&($&R.+,-)*/E/,$,&R+.&-2$&"6R$2%/:2&,"(&"#R("+A
X=^=*u("#/)*")*)1;)/#+5#@+/#?(*")5*),;5)%*(%&,+5#@+"%*b),,.c
D2$&,"&($%&E"2*$G$%&,"&-*/(/L$.&"(& &$$3&"%&M-"&(+%&."%-(*$,+%&M-"&+I.")"&E$2&,"&-2&.$2W+&,"&b>&$&>;&"(&R./#".&E$(+.&%/W2/I/)$.3$&M-"&($&$)*/E/,$,&2+&%"&"2)-"2*.$&R."%"2*"&"2&"(&%")*+.&*-.3%*/)+;&#/"2*.$%&M-"&-2&E$(+.&,"&>&%/W2/I/)$.3$&M-"&($&$)*/E/,$,&%:(+&)+.."%R+2,"&$(&%")*+.A&P+%&E$(+."%&/2*".b#",/+%&"2*."&#V%&)".)$2+%&%"$2&$& >;&"%*$.3$2&/2,/)$2,+&"(&R.+)"%+&,"&"%R")/$(/L$)/:2&U$%$,+&"2&-2&7,"8&).")/#/"2*+&#V%&("2*+&,"&($&$)*/E/,$,&"2&"(&%")*+.&*-.3%*/)+&72$)/+2$(8A
_&2/E"(& ,"& %")*+."%& ,"& $)*/E/,$,;& "(& %")*+.& )$.$)*".3%*/)+& Z<& 7$(+G$b#/"2*+&*"#R+.$(&0&R."R$.$)/:2&,"&$(/#"2*+%&0&U"U/,$%8&"%&"(&M-"&R."%"2b*$&-2$&#$0+.& "%R")/$(/L$)/:2&R$.$& (+%&,+%&R"./+,+%&$2$(/L$,+%;& %/"2,+&)".)$2$&$&=AZA&12&*$2*+&M-"&"(&%")*+.&K?;&M-"&)+.."%R+2,"&$&%".E/)/+%&R.+bI"%/+2$("%;&*5)2/)+%&0&)/"2*3I/)+%;&#-"%*.$&($&#$0+.&,"%"%R")/$(/L$)/:2A
_&2/E"(&,"&)-$*.+&,3W/*+%&,"&($&)($%/I/)$)/:2&#,&'3;&($%&.$#$%&,"&$)*/bE/,$,&M-"&R."%"2*$2&-2&#$0+.&,"%"%R")/$(/L$)/:2&,"(&%")*+.&%+2&$M-"(($%&M-"&+I.")"2&%".E/)/+%&",-)$*/E+%&$&2/E"(&UV%/)+&0&+*.+%&7d>>d&0&d>>Z8a&%"bW-/,$%&,"&($%&.$#$%&,",/)$,$%&$&%".E/)/+%&/2#+U/(/$./+%&0&U/"2"%&.$3)"%;&
>><
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
:<+"&%*h
1%*/#$)/:2&,"(&)+"I/)/"2*"&,"(&"#R("+&"2&"(&%")*+.&*-.3%*/)+
>)/$%&*")*+/$#D#"+"
6(#"+")1*
)/%(?,
#/+1
')&1%(+5*%/<;+"%
M+5%&*+7&)7+"%
-#5)1*")*;)1%1
!/`
(mD
r:%)\#/#)($)*
;%(")&+"%*")5*
),;5)%
^__X
^__g
^__X
^__g
^__X
^__g
^__X
^__g
^__X
^__g
^__X
^__g
'")*+.&?d;&H+#
".)/+&$(&R+.&
#"2+.
>Nd;==X<N=;NdK
KdN;KdK
XO<;<KZ
K>;N=>;ZXX
O<;KNK;dO?
>=AXOK
>>AX=>
XA>
>NA<
XXAXdd
>KZAKdX
'")*+.&?Ob?X;&!.$2%R+.*"%;&
)+.."+%&0&$(#$)"2$#
/"2*+
d;>O=
<;ZXN
>XZ;O<d
>=>;Z=O
dK;X=?;N<X
Z=;Xd=;N=>
NA==<
>A?NN
>?AZ
>KAO
??A><K
<<Ad?d
'")*+.&K<;&'".E/)/+%&I/2$2)/".+%&
0&,"&%"W-.+%
>;<K>
<;==Z
K;=XO
d;KKZ
>;>>N;Nd>
>;=NN;OOZ
?AKZX
dAN?<
><>=AZ
K?AX?Z
dZAOd=
'")*+.&KN;&'".E/)/+%&
/2#+U/(/$./+%&0&,"&$(M-/(".&,"&
U/"2"%&#-"U("%&"&/2*$2W/U("%
d;>=?
<>;X=X
<O;Kdd
>=Z;N=<
X;K<=;ON<<K;>X<;KOZ
NA===
?A<KX
>NA?
?=A?
?=A<=K
>Z<A=Z?
'")*+.&K?;&'".E/)/+%&
R.+I"%/+2$("%;&)/"2*3I/)+%&0&
*5)2/)+%
>;dZ>
K;=<?
?;>NX
><;?K>
>X?;?=Z
K?<;=d<
<>A<X=
<<AXZ=
<A?
KAX
K>A=XZ
>NKAK<>
'")*+.&Kd;&'".E/)/+%&,"&$R+0+&
$&(+%&2"W+)/+%&0&#$2"G+&
,"&,"%")S+%&0&%".E/)/+%&,"&
."#",/$)/:2
?;=Zd
K;XXN
NN;N<>
?<;dXX
d;=<X;=OK
Z;O=X;ZXX
KAK<Z
KA?dZ
XA?
ZA?
K>AXK>
?=A?KO
'")*+.&d>;&'".E/)/+%&",-)$*/E+%
<<K
<;X=Z
N>;>d?
OK;KZ>
K;=O>;X>>>N;ZNO;>dX
dA>N<
dA<<X
=AZ
dAZ
?A<XN
?>AZN<
'")*+.&Z>;&'".E/)/+%&,"&
"%R$.)/#/"2*+;&)-(*-.$("%&0&
,"R+.*/E+%;&0&+*.+%&%".E/)/+%&
.")."$*/E+%
d;?N<
>d;dKX
NO;?<?
Zd;dZ>
N;?>N;O<Z
K;?N=;XXd
>>A<KK
>?A>>Z
<=A<
NXAO
<<ZANKX
Kd>AOdX
'")*+.&Z<;&'".E/)/+%&,"&
$(+G$#
/"2*+&*"#R+.$(&0&,"&
R."R$.$)/:2&,"&$(/#
"2*+%&0&
U"U/,$%
OO;ON?
<>O;<?>
KO=;X=d>;>N=;XXN
NO;ddX;Z?N
ZX;Zd>;N<<
>KA=<<
>?A>O=
N<KKAd
?O=AZ><
ZOOANX<
'")*+.&O>;&n*.+%&%".E/)/+%&
"6)"R*+&$)*/E/,$,"%&
W-U".2$#
"2*$("%
<K;ZXd
Z<;<Nd
?>;ZK?
>K>;N=X
>;NNX;NdO
?;X<=;NNX
N>A>Z?
N=AZK<
<KAK
>?Ad
ZX?AX?Z
??OAXZK
H+"I/)/"2*"&$W."W$,+&,"(&"#R("+&,"(&%")*+.&*-.3%*/)+
>O?XAd=<
<?NZA=XX
i-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#
$)/:2&,"&($%&1%*$,3%*/)$%&*-.3%*/)$%&)+2&U$%"&"2&(+%&H"2%+%&1)+2:#/)+%;&<==?&0&<==XA&Q[1]QA
>>N
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
)+#".)/+&$(&R+.&#"2+.&,"&(+%&$.*3)-(+%&,")+.$*/E+%&7KN><&0&?ddN;&."%R")b*/E$#"2*"8A
P$%&.$#$%&M-"&*-E/".+2&-2$&"%R")/$(/L$)/:2&#",/$&,"(&"#R("+;&)".)$b2$&$&=AK=;&%+2&($%&,"&$)*/E/,$,"%&."($)/+2$,$%&)+2&"(&*.$2%R+.*"&R+.&$W-$&7?OON8a&)$%$%&,"&U+(%$&0&,"&)$#U/+&7K<N>8a&%".E/)/+%&,"&$(M-/(".&%/2&/2*".b#",/$)/:2& 7KN>>8a& R$.M-"%& "& /2%*$($)/+2"%& .")."$*/E$%& 0&+*.+%& %".E/)/+%&.")."$*/E+%&7Z>N>&0&Z>NX8a&."%*$-.$2*"%&,"&$-*+%".E/)/+&7Z<<<8&0&%$(+2"%&0&)(32/)$%&,"&U"(("L$&7O><>8A
P$%&.$#$%&,"&$)*/E/,$,&M-"&R."%"2*$2&-2$&#$0+.&"%R")/$(/L$)/:2&%+2&"2&%-&#$0+.3$&$)*/E/,$,"%&)$.$)*".3%*/)$%&,"(&*-./%#+;&"2*."&"(($%&%"&"2b)-"2*.$2&($%&."($)/+2$,$%&)+2&"(&*.$2%R+.*"&$5."+;&I"..+)$../(;&#$.3*/#+&0&*-.3%*/)+&7?O>>;&?O><;&?O<>&0&?ON>a&?OZ>;&?OZ<;&?OZX&0&?OO>8a&$W"2)/$%&,"&E/$G"%&7Kd>K8&0&($&#$0+.&R$.*"&,"&($%&.$#$%&,"(&%")*+.&,"&$(+G$#/"2*+&0&$(/#"2*+%&7Z<>>;&Z<><;&Z<>N&0&Z<<>8A
P$%&.$#$%&M-"&R."%"2*$.+2&-2&#$0+.&).")/#/"2*+&,"(&"#R("+&"2*."&<==N&0&<==O&I-".+2&$M-"(($%&M-"&$(&/2/)/+&,"(&$2V(/%/%&R."%"2*$U$2&-2&%/Wb2+&2"W$*/E+&0&S$)/$&"(&I/2$(;&5%*"&".$&R+%/*/E+a&"%*$%&.$#$%&%+2Y&"%)-"($%&,"&",-)$)/:2&R+%U$)S/((".$*+&7d>><8;&"%)-"($%&,"&+I/)/+%&7d>>K8&0&$%+)/$)/+b2"%&0&+.W$2/L$)/+2"%&)+#".)/$("%&7O>N>8A
X=X=*!1$#,+/#?(*")5*$+,+T%*,)"#%*")*5+*),;&)1+*b+/,c
@"&$)-".,+&)+2&B+#+&0&B"0"%&7<===8;&($&"%*/#$)/:2&,"(&14$&R".#/*/.V&,/#"2%/+2$.&,"&#"G+.&#$2".$&(+%&"%*$U(")/#/"2*+%&,"&-2&%")*+.;&$(&R+,".&)+#R$.$.&%/&($&"#R."%$&"%&W.$2,"&+&R"M-"f$&$(&/2*"./+.&,"&($&.$#$%A
12&($%&.$#$%&,"&$)*/E/,$,&."($)/+2$,$%&)+2&"(&)+#".)/+&%"&"2)+2*.:&M-"&($&,"&)+#".)/+&$(&R+.&#"2+.&"2&*/"2,$%&,"R$.*$#"2*$("%&7?d<<8&"%&"2&*+,+&"(&%")*+.&($&M-"&"2&<==N&*"23$&"(&R.+#",/+&#V%&$(*+&,"&2`#".+&,"&"#R("+%;&,"&>=dAdX;&#/%#$&M-"&R$.$&<==O&,/%#/2-0:&$&ZXA=>&"#R("$,+%A&12&"%*$&.$#$&"(&R.+#",/+&"%&%"%W$,+&R+.&"(&*$#$f+&#",/+&,"&($&"#R."%$&W.$2,"&7#$0+.&$&>==&"#R("$,+%8;&M-"&$()$2L$U$&<d=A?d&0&N=NA<X;&"2&<==N&0&<==O;&."%R")*/E$#"2*"A
P$&.$#$&,"&$)*/E/,$,&)+#".)/$(&)+2&-2&*$#$f+&R.+#",/+&#"2+.&I-"&($&,",/)$,$&$&($&E"2*$&,"&#$%)+*$%;&."W$(+%&0&$.*3)-(+%&."(/W/+%+%&7?dKX8;&)+2&-2&*$#$f+&R.+#",/+&,"&,+%&"#R("$,+%;&"%*"&"%*.$*+&)+2)"2*.:&ZZe&,"(&R".%+2$(&+)-R$,+&"2&<==N;&,/%#/2-0"2,+&$&ONe&"2&<==OA
>>?
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
:<+"&%*e
456/)+Y&"%R")/$(/L$)/:2&,"(&"#R("+&"2&"(&%")*+.&*-.3%*/)+
E/$#D#"+"
!,;5)%*$%$+5*(+/#%(+5!,;5)%*$%$+5*$<&91$#/%
),,.
E/$#D#"+"
!,;5)%*$%$+5*(+/#%(+5
!,;5)%*$%$+5*
$<&91$#/%
),,.
^__X
^__g
^__X
^__g
^__X
^__g
^__X
^__g
^__X
^__g
^__X
^__g
!+*$(&
2$)/+2$(
>d;<NX;KNd
<=;>>d;ON?
>;KNd;Kdd<;dXZ;K>O
&&
B$#
$&KN><
Nd;=ON
??;Zd<
>>;d?X
??;Zd<
=AK?Z
=AZd?
'")*+.&?d&
?;=NK;<<N
K;=<Z;?dN
KdN;KdK
XO<;<KZ
=A>X<
=A>OdB$#
$&KN><
<N;>ON
<X;><<
><?
<>=
b=AOXN
b=AOXO
B$#
$&?d<>
?=?;XXK
?ZN;Od<
>?=;NZZ
<K?;N?N
=AKZ>
=Ad=='")*+.&K?
?Z<;N?O
KZ=;dNZ
?;>NX
><;?K>
b=AON=
b=AZ<=
B$#
$&?d<<
><d;X??
>dK;KX?
d>;<NX
>=?;KNN
=AdZ<
=AdK=B$#
$&K?>X
?K;XZ=
KX;>X=
?;>NX
><;?K>
b=A=<K
=A<<>
B$#
$&?dN<
<d<;?>d
NKN;KK=
>>Z;KKZ
<=?;N?O
=AdK>
=Ad<N'")*+.&Kd
O>K;NOO
>;NdK;K=X
NN;N<>
?<;dXX
b=ANXZ
b=Ad<<
B$#
$&?dNN
Xd;ZZK
>>?;>KZ
?=;==d
Z>;K?=
=Ad<Z
=Ad?ZB$#
$&Kd>K
NN;ONZ
?=;<>K
N<;=N<
?=;<>K
=AO>O
=AZd?
B$#
$&?d?>
>ZK;O><
<N=;<=N
K<;KO=
>=K;<NK
=AK>X
=AK?dB$#
$&Kd>X
>X;>KK
N<;<>K
>;<OX
<;?O?
b=A>dX
b=A<Z=
B$#
$&?dK>
KX;<Kd
Z<;N>>
<Z;XK>
K=;>dX
=Addd
=AdZd'")*+.&d>
K>Z;XKO
dN<;?<<
N>;>d?
OK;KZ>
b=A<<N
=A==K
B$#
$&?dK<
d=;<>Z
Z<;>KN
<>;?Z=
?Z;?d>
=AKO>
=Add>B$#
$&d>>>
NNd;??Z
NON;>=N
<dK
>;N=K
b=AXON
b=AXK=
B$#
$&?dKN
>OO;>=O
<?>;N==
>N;NX=
>Z;XXN
b=A>?>
b=A<OK
B$#
$&d>><
<;ZOO
<;XNd
>dK
>;ZZd
b=A<N=
=AdNZ
B$#
$&?dKX
>N<;<<O
>K<;dON
dN;O>>
ZN;><<
=AdZ<
=AKdNB$#
$&d>>N
>>X;N<?
>?>;d<d
N=;>Z=
Z<;XK=
=A?KK
=AKOZ
B$#
$&?ddN
KX;<ZN
O=;<KK
OdO
>;?KO
b=AZN<
b=AZd>
B$#
$&d>>K
d;>N?
d;ZNd
?NO
?;=ZO
b=A>?=
=AdNZ
B$#
$&?dO?
>dZ;NO>
>X>;Kd=
<?;N>d
K<;=KK
=A<>>
=ANNXB$#
$&d>>d
N>;?>X
d?;O>N
><K
?;=<=
b=AX>X
b=ANdZ
'")*+.&?O
dN?;X?=
Z>O;=d<
>XZ;O<d
>=>;Z=O
=AKN?
=A=<ZB$#
$&d>>Z
<;<XK
<;dNK
>>;??<
b=AXX>
=Ad=d
B$#
$&?O>>
<N;Kd=
<O;O<?
<N;Kd=
<O;O<?
=AO<Z
=AZd?'")*+.&Z>
>?N;KOX
>Xd;ZXN
NO;?<?
Zd;dZ>
=A?ZO
=A?OO
B$#
$&?O><
<;>N>
<;NON
<;>N>
<;NON
=AO<Z
=AZd?B$#
$&Z><>
<;Z?d
?;<N>
>;d<<
?;<N>
=AZ<?
=AZd?
B$#
$&?O<>
>?;K<N
>N;Z>?
>?;K<N
>N;Z>?
=AO<Z
=AZd?B$#
$&Z>N>
N<;=ZZ
?K;OdO
>=;NOK
<d;KNO
=AK?O
=Ad<?
B$#
$&?ON>
X;d<O
X;??K
N;d=d
N;=KX
=AKXZ
=A?>?B$#
$&Z>NX
dO;==K
X=;NX<
<<;dN=
?K;X=<
=AKKZ
=AKO<
B$#
$&?ON<
>;O=Z
>;ZXO
>;O=Z
>;ZXO
=AO<Z
=AZd?'")*+.&Z<
>;<>O;<d<
>;Z?N;?O<
KO=;X=d
>;>N=;XXN
=AddX
=AdKZ
B$#
$&?OKK
dZK
>;KZ=
NNK
>;KZ=
=AdO=
=AZd?B$#
$&Z<>>
<Nd;d>X
N>X;ddK
<Nd;d>X
N>X;ddK
=AO<Z
=AZd?
B$#
$&?OZ>
>=;NNZ
>=;>X?
>=;NNZ
>=;>X?
=AO<Z
=AZd?B$#
$&Z<>>
>;>><
XdZ
>;>><
XdZ
=AO<Z
=AZd?
B$#
$&?OZ<
>=;dNZ
O;=<d
>=;dNZ
O;=<d
=AO<Z
=AZd?B$#
$&Z<><
?;ZNN
Z;>?X
?;ZNN
Z;>?X
=AO<Z
=AZd?
B$#
$&?OZX
<KN?
<KN?
=AO<Z
=AZd?B$#
$&Z<<>
NX>;>XO
<NO;=ON
>dN;<Z=
>??;?OK
=AdN=
=AdNO
B$#
$&?OO>
><;KXZ
>N;<O<
><;KXZ
>N;<O<
=AO<Z
=AZd?B$#
$&Z<<<
?Zd;X=K
>;=NK;d<d
>??;>OO
KdO;K?Z
=AK<N
=Ad=Z
B$#
$&?OON
><;<??
>d;=?<
N;=ZN
N;=OX
=A?K<
=A>ZXB$#
$&Z<<?
ZK;<XZ
>=K;N<=
N=;XO?
dO;>XN
=Ad<d
=AdKZ
>>K
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
B$#
$&?OO?
<N;dNO
<N;>O?
>O;?XO
>K;ZNK
=AZO?
=AdZ='")*+.&O>
X?>;Z?X
>;<><;Nd<
?X;<d<
>K>;N=X
b=A<OO
b=A=Nd
'")*+.&K<
<ZK;ON=
?O=;KKZ
K;=XO
d;KKZ
b=AdZN
b=AO>K
B$#
$&O><>
>KK;>O?
<<K;Nd=
?>;ZK?
>=d;d>Z
=A?O=
=AKKO
B$#
$&K<N>
>O;NN>
>O;<KX
K;=XO
d;KKZ
=A?X<
=A?KdB$#
$&O><X
<>;?ZO
>>;X<=
K;?K=
N;Z?O
=A?KZ
=A?=<
'")*+.&KN
>ZX;>?d
<N?;K?O
<O;Kdd
>=Z;N=<
=A<KK
=AK?ZB$#
$&O>N>
KZ;=dd
dK;d=<
<;=KO
?=;X??
b=A??O
=Ad?d
B$#
$&KN>>
?K;X??
ZO;Z>>
>?;>?d
?=;?ZX
=AKN=
=AKOdB"%*+&
,"&($%&
$)*/E/,$,"%&
")+2:#
/)$%
Z=O;=<><=;>>d;ON?
=>Z;?>X;N>d
b>A===
=AZN<
9$.$&)+2%-(*$.&($&"%R")/I/)$)/:2&,"&($%&.$#$%&0&%")*+."%&,"&$)*/E/,$,;&)+2%`(*"%"&"(&_2"6+&>A
i-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#
$)/:2&,"&($%&1%*$,3%*/)$%&*-.3%*/)$%&)+2&U$%"&"2&(+%&H"2%+%&1)+2:#/)+%;&<==?&0&<==X;& &3$-&A
>>d
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
:<+"&%*i456/)+Y&*$#$f+&#",/+&,"&"#R."%$&"2&.$#$%&*-.3%*/)$%&
."($)/+2$,$%&)+2&"(&)+#".)/+
H+,+ R+,+T%*),;&)1+
^__X ^__g ^__X ^__g6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
+/,
B$#$&?d<>;&H+#".)/+&$(&R+.&#"2+.&"2&*/"2,$%&,"&$-*+%".E/)/+
!+*$( Z;Xdd >?=;NZZ ><;Z?< <K?;N?N >ZAd< >XAXd4/).+ d;ON< <=;X?X >=;dd? ?<;K=O NA=Z NAXX9"M-"f$ NXd O;dO? ZKd ><;OXO <>AXN >ZA=d4",/$2$ <?Z >N;ZXN ?O? N=;?ZO KKAO? d<AXZ].$2," NZ= Xd;XK> dO> >dO;?KX <d<A=N <?ZANZ
B$#$&?d<<;&H+#".)/+&$(&R+.&#"2+.&"2&*/"2,$%&,"R$.*$#"2*$("%
!+*$( KZ? d>;<NX >;N<N >=?;KNN >=dAdX ZXA=>4/).+ XK N?= >== ZdN NAKO ZAdN9"M-"f$ ZO >;KOZ NOX d;X<= <=ANK >ZAZX4",/$2$ <=K >>;><Z d<K NK;OOO K?A<O KZA?<].$2," >OK ?O;>OK <=> d=;Xd< <d=A?d N=NA<X
B$#$&?dN<;&H+#".)/+&$(&R+.&#"2+.&,"&.+R$;&U/%-*".3$&0&$))"%+./+%&,"&E"%*/.
!+*$( ?O;N>O >>Z;KKZ O?;?XN <=?;N?O <A?N <A?<4/).+ ?Z;?dX Xd;XO> ON;<=X >ZO;=?> <A=? <A>?9"M-"f$ Z=O >>;dNO >;><K >Z;KKZ >dA?? >KAd>4",/$2$ ><N K;Z<d >?d d;OK= ?dAKK ?dAX<].$2," z N;<>< >N >;X== z >?dA>K
B$#$&?dNN;&H+#".)/+&$(&R+.&#"2+.&,"&)$(L$,+
!+*$( ><;XX= ?=;==d <?;>O= Z>;K?= NA=O <AXd4/).+ ><;KK= N=;NKN <N;?O? KO;>KN <A?< <A?O9"M-"f$ NZ= K;OON d<d X;d?? >KAX= >KA?>4",/$2$ dd N;=Zd ?X <;ZZd ?dAd> KdAdK].$2," z >;<NX &z XdZ z z
B$#$&?dK<;&H+#".)/+&$(&R+.&#"2+.&,"&$.*3)-(+%&R$.$&"(&"%R$.)/#/"2*+
!+*$( Z;ZON <>;?Z= >O;dZ> ?Z;?d> <AZd <AK?4/).+ Z;KO> >d;KK< >O;N>> NX;<?? <A>O <A>?9"M-"f$ >Z? <;X>< N>= K;>O< >dAZ? >dAZ<4",/$2$ z >;==K ?? <;=XN z ?ZAKZ].$2," z >;==> z X?< z z
B$#$&?dKN;&H+#".)/+&$(&R+.&#"2+.&,"&$.*3)-(+%&,"&R$R"(".3$;&(/U.+%;&."E/%*$%&0&R"./:,/)+%
!+*$( ?;=>Z >N;NX= K;O?< >Z;XXN NANN NA=O4/).+ N;Od> O;d=Z K;d=O ><;NKK <A<N <A<=9"M-"f$ >>O <;=<X z >Od >ZA>X z4",/$2$ N> >;?Zd N? <;=ZX ?ZAd> d>A>K].$2," z >;<ZO &z <K< z z
B$#$&?dKX;&H+#".)/+&$(&R+.&#"2+.&,"&#$%)+*$%;&."W$(+%;&$.*3)-(+%&."(/W/+%+%;&,"%")S$U("%&0&+*.+%&$.*3)-(+%&,"&-%+&R".%+2$(
!+*$( N>;=?Z dN;O>> N?;OON ZN;><< <A=d <A>=4/).+ N=;Zd= KZ;K<> N?;dOO dO;XX< >AOZ >AXX9"M-"f$ <?? N;X=X >dK <;d=d >dA=< >KAZX4",/$2$ <Z >;XKZ <? >;><O Z<A?O ?ZA==].$2," z ?<? &z NXd z z
>>Z
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
H+,+ R+,+T%*),;&)1+
^__X ^__g ^__X ^__g6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
+/,
B$#$&?ddN;&H+#".)/+&$(&R+.&#"2+.&,"&$.*3)-(+%&R$.$&($&,")+.$)/:2&,"&/2*"./+."%
!+*$( NZ> OdO d=K >;?KO <AN? <A?>4/).+ NKN O<d KXX >;NZd <AN? <AN=9"M-"f$ z ?< z O< z z
B$#$&?dO?;&H+#".)/+&$(&R+.&#"2+.&,"&)+#U-%*/U("%;&$)"/*"%&0&W.$%$%&(-U./)$2*"%
!+*$( >;<Nd <?;N>d N;=O? K<;=KK >XAdZ >dAOO4/).+ N=> >;XZ< OZK K;OK> dAKK dAdX9"M-"f$ Zd> >?;=KZ >;X<N NN;OZ< >OA?Z >ZAd>4",/$2$ >NN Z;<Z= <NZ ><;=KK K?Add K=AOd].$2," z >;=>Z &z <ZZ z z
i-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#$)/:2&,"&($%&1%*$,3%*/)$%&,"&*-./%#+&)+2&U$%"&"2&(+%&H"2%+%&1)+2:#/)+%;&<==?&0&<==X;&&3$-&A
12&)-$2*+&$&($%&"#R."%$%&,",/)$,$%&$&$)*/E/,$,"%&."($)/+2$,$%&)+2&"(&*.$2%R+.*";&%"&"2)-"2*.$&M-"&"(&#$0+.&*$#$f+&#",/+&.$,/)$&"2&"(&*.$2%R+.b*"&$5."+&."W-($.&7?O>>8;&)+2&-2&*$#$f+&R.+#",/+&,"&Kd>&0&dZ=&"#R("$,+%&"2&<==N&0&<==O;&."%R")*/E$#"2*"a&"2&"(&)$%+&+R-"%*+&%"&(+)$(/L$2&($%&$)*/E/b,$,"%&,"&*.$2%R+.*"&R+.&$W-$%&/2*"./+."%&7?ON>8;&,+2,"&"(&*$#$f+&R.+#"b,/+&+%)/($U$&"2&"(&R"./+,+&"2*."&)/2)+&0&%"/%&"#R("$,+%A&1%*+%&."%-(*$,+%&/2,/)$2&M-"&$&#$0+.& ."M-"./#/"2*+&,"& /2I.$"%*.-)*-.$&,"&-2$&"#R."%$;&#$0+.&"%&"(&2`#".+&,"&R-"%*+%&,"&*.$U$G+&M-"&W"2".$2&7_2"6+&<8A
P+%&%".E/)/+%&",-)$*/E+%&."($)/+2$,+%&)+2&"(&*-./%#+&R."%"2*$2&R$.$&($& ",-)$)/:2& %-R"./+.& 7d>>N8& "(&#$0+.& *$#$f+& R.+#",/+& ,"& "#R."%$;&)+2&<<d&"#R("$,+%&"2&<==N&0&Kd&"2&<==Oa&"%*$&,/%#/2-)/:2&"2&"(&*$#$f+&#",/+&%"&"6R(/)$&R+.&"(&$-#"2*+&,"(&2`#".+&,"&"%*$U(")/#/"2*+%&,"&"%*$&.$#$&"2&*+,+%&(+%&"%*.$*+%&,"&"#R."%$%A&n*.+&%".E/)/+%&",-)$*/E+%&7d>>d8&R."%"2*$;&R+.&"(&)+2*.$./+;&"(&#"2+.&*$#$f+&,"&"#R."%$&)+2&)/2)+&0&%"/%&"#R("$,+%&."%R")*/E$#"2*"&"2*."&<==N&0&<==O&7_2"6+&N8A
P+%&%".E/)/+%&,"&S+%R",$G"&0&$(+G$#/"2*+&7Z<>>8&*-E/".+2&-2&14$&,"&<=AOd&"#R("$,+%&"2&<==N&0&>OAd=&"2&<==O&,"2*.+&,"&($&)$*"W+.3$&,"&R"bM-"f$&"#R."%$a&%/2&"#U$.W+;&"(&"%*.$*+&M-"&)+2)"2*.:&K>e&,"&(+%&"#bR("+%&"2&$#U+%&R"./+,+%;&)+2&-2$&R$.*/)/R$)/:2&"2&"(&2`#".+&,"&-2/,$b,"%&")+2:#/)$%&)+2&-2&R.+#",/+&,"&NAKe;&I-".+2&($%&"#R."%$%&W.$2,"%A&P$&.$#$&."($)/+2$,$&)+2&"%*"&*/R+&,"&%".E/)/+%&M-"&*-E+&"(&#"2+.&14$&I-"&($&,"&R"2%/+2"%&0&)$%$%&,"&S-5%R","%;&)+2&-2&R.+#",/+&,"&*."%&"#R("$b,+%a&,"&S")S+&($&)+2)"2*.$)/:2&,"&"#R."%$%&"2&"(&"%*.$*+&#/).+&)+.."%bR+2,"&$&XOe&,"&($&.$#$&)+2&-2$&$U%+.)/:2&,"(&"#R("+&)".)$2+&$&OKeA
P$&R."R$.$)/:2&,"&$(/#"2*+%&%"&"2)-"2*.$&)+2%*/*-/,$&"2&%-&#$0+.3$&R+.&"#R."%$%&,"&*$#$f+&#/).+a&($&.$#$&Z<<>;&)+.."%R+2,/"2*"&$&."%*$-b
>>O
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
.$2*"%&)+2&%".E/)/+&)+#R("*+;&"2&<==N&R."%"2*$U$&-2&R.+#",/+&,"&%/"*"&"#R("$,+%;&#/%#+&"%*.$*+&M-"&)+2)"2*.$U$&OKe&,"&"%*$U(")/#/"2*+%&0&?de&,"&(+%&"#R("$,+%a&"%*$&#/%#$&.$#$&"2&<==O&."W/%*.:&-2&$-#"2*+&"2&"(&14$&7<KAZ<&"#R("$,+%8;&%/"2,+&"(&"%*.$*+&,"&($&R"M-"f$&"#R."%$&$(&M-"&R-","&$%+)/$.%"&"%*"&$-#"2*+;&."R."%"2*$2,+&O>e&,"&(+%&"%*$U(")/#/"2b*+%&0&W"2".$2,+&dde&,"&(+%&"#R("+%A
12&+*.+&*/R+&,"&%".E/)/+%&*-.3%*/)+%&,"%*$)$2&($%&.$#$%&O><>&0&O>N>;&)+.."%R+2,/"2*"%&$&%$(+2"%&0&)(32/)$%&,"&U"(("L$&0&#$%$G"%&0&$%+)/$)/+2"%&0&+.W$2/L$)/+2"%&)+#".)/$("%;&R.+I"%/+2$("%;&"*)5*".$;&"(&14$&.")$"&"2&"(&"%*.$*+&,"&($&#/).+"#R."%$;&M-"&"2&$#U+%&)$%+%&."R."%"2*$2&#V%&,"&O=e&,"&(+%&"%*$U(")/#/"2*+%&0&W"2".$2&$R.+6/#$,$#"2*"&?=e&,"&(+%&"#R("+%A
:<+"&%*g456/)+Y&*$#$f+&#",/+&,"&"#R."%$&"2&.$#$%&*-.3%*/)$%&."($)/+2$,$%&
)+2&$(+G$#/"2*+;&."%*$-.$2*"%&0&%".E/)/+%&R".%+2$("%
H+,+ R+,+T%*),;&)1+
^__X ^__g ^__X ^__g6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
+/,
B$#$&Z<>>;&c+*"("%;&#+*"("%&0&%/#/($."%
!+*$( >>;N?? <Nd;d>X >Z;>X= N>X;ddK <=AOd >OAd=4/).+ O;=ZK Nd;<<= ><;XON KN;O=? ?A?X ?A>?9"M-"f$ <;??= K<;ZdN N;>ZO dZ;Od< <>Ad< <>ANK4",/$2$ NO< <d;XKO ?OK N?;NNX Z=AKZ Z=AO=].$2," ??Z ><=;dZO K?? >dN;dd= <dXAXZ N==AOK
B$#$&Z<><;&H$#R$#"2*+%&0&$(U".W-"%&.")."$*/E+%
!+*$( d? >;>>< >>O XdZ >ZANO OA>X4/).+ K= >ZZ X? NZ? NAK? NAXO9"M-"f$ z <=? >N K=O z NXA=O4",/$2$ z d? &z OK z z].$2," z ddZ ! ! z !
B$#$&Z<>N;&9"2%/+2"%&0&)$%$%&,"&S-5%R","%;&0&,"R$.*$#"2*+%&0&)$%$%&$#-"U($,+%&)+2&%".E/)/+%&,"&S+*"(".3$
!+*$( >;KdX ?;ZNN <;NXK Z;>?X NA=< <AXO4/).+ >;KK> ?;<NZ <;N?N d;=<Z <AZN <AKZ9"M-"f$ >= <<< <Z X?d <<A<= NKA=?4",/$2$ z <Z? &z KX z z].$2," ! ! &z >>Z ! z
B$#$&Z<<>;&B"%*$-.$2*"%&)+2&%".E/)/+&)+#R("*+
!+*$( <>;=NK >dN;<Z= K;d>O >??;?OK ZAZd <KAZ<4/).+ >Z;XKd dZ;XN> ?KO N;==? NAZO dAKd9"M-"f$ <;d?X K<;?NO ?;Kdd XK;ZKK >XAO= <=AXZ4",/$2$ <XK <>;=K? K<X N?;Z?? Z>ANZ dKAdO].$2," ><K <>;O?Z KO >=;XO< >Z?AZO >OXAN?
B$#$&Z<<<;&B"%*$-.$2*"%&,"&$-*+%".E/)/+;&)+#/,$&R$.$&(("E$.&0&+*.+%&."%*$-.$2*"%&)+2&%".E/)/+&(/#/*$,+
!+*$( ?O;O>O >??;>OO >ZZ;=<? KdO;K?Z <AXK NA<>4/).+ ?Z;dZ> >>N;dZZ >ZN;ZOZ K=>;dN> <ANO <AOX9"M-"f$ >;=>O <=;KZ? N;=XZ KN;<OZ <=A<> >ZA<>4",/$2$ >>< Z;d>> >=? Z;Nd= dZAXd Z=AZZ].$2," >Z <;N<d Nd d;<dX >NdAO< >Z?A>?
>>X
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
H+,+ R+,+T%*),;&)1+
^__X ^__g ^__X ^__g6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
+/,
B$#$&Z<<?;&H"2*.+%&2+)*-.2+%;&U$."%;&)$2*/2$%&0&%/#/($."%
!+*$( d;==? N=;XO? >K;<NN dO;>XN KA>d ?A?O4/).+ K;K>= >Z;>O? >?;=ZX ?N;K?> NA>< NA=X9"M-"f$ ?KO O;O?? >;>=O <=;NXZ >XAN> >OA?>4",/$2$ <d >;dZZ NK <;<K? d?AK= d?A?=].$2," z N;<ZX z <;==> z z
B$#$&O><>;&'$(+2"%&0&)(32/)$%&,"&U"(("L$;&U$f+%&R`U(/)+%&0&U+(".3$%
!+*$( <K;ZXd ?>;ZK? dK;ZN? >=d;d>Z >Ad< >Ad<4/).+ <K;dO? NX;ddK dK;KN> >=N;NO> >AK? >AKO9"M-"f$ >=? >;O=X >X? N;=<X >ZANX >KAd>4",/$2$ z >K> &z Kd z z].$2," z ><X &z >K> z z
B$#$&O><X;&'".E/)/+%&,"&."E"($,+&"&/#R."%/:2&,"&I+*+W.$I3$%&0&+*.+%&%".E/)/+%&R".%+2$("%
!+*$( >;NXK K;?K= Xd? N;Z?O NAX> NAOX4/).+ >;N<< N;XNO X=O <;Od= <AXO NA>K9"M-"f$ dK >;>Od ?X OOO >OA<K >OA><4",/$2$ z >Xd ! ! z !
].$2," z >N= ! ! z !
B$#$&O>N>&$%+)/$)/+2"%&0&+.W$2/L$)/+2"%&)+#".)/$("%;&($U+.$("%;&R.+I"%/+2$("%&0&.")."$*/E$%
!+*$( <?< <;=KO K;KNO ?=;X?? OAK= ZANX4/).+ >X? dZN ?;?O? >d;>>< NA?Z NAKX9"M-"f$ NK X<> XO> >Z;ZNX <dAN> >OA=O4",/$2$ z <Kd KZ N;OZ= z dZAOX].$2," z <=O z N;<<N z z
&z&1(&,$*+&2+&"%*V&,/%R+2/U("Ai-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#$)/:2&,"&($%&1%*$,3%*/)$%&,"&*-./%#+&)+2&U$%"&"2&(+%&H"2%+%&
1)+2:#/)+%;&<==?&0&<==X;&&3$-&A
E(&<3=43S.5-3:&=.-,43:
1(& *-./%#+& "%& %/2& ,-,$& -2$& $)*/E/,$,& /#R+.*$2*"& R$.$& ($%& ")+2+#3$%&2$)/+2$("%&"2&*5.#/2+%&,"&($%&E$./$U("%&$W."W$,$%;&)+#+&%+2&($&W"2".$b)/:2&,"&,/E/%$%;&($&)+2*./U-)/:2&M-"&S$)"&$(&/&(;&0&"(&"#R("+&$%+)/$,+&$&"%*"&%")*+.&,"&$)*/E/,$,A
9$.$&"(&)$%+&,"&456/)+;&"(&*-./%#+&S$&%/,+&)+2%/,".$,+&-2&%")*+.&,"&."("E$2)/$&2$)/+2$(;&R($2*"$,+&)+#+&-2$&"%*.$*"W/$&R$.$& ($&W"2".$)/:2&,"&"#R("+&"2&($%&."W/+2"%&#V%&,"R./#/,$%a&%/2&"#U$.W+;&(+%&"%*-,/+%&M-"&R".#/*$2&)+2I/.#$.&*$(&)+2*./U-)/:2&%"&"2)-"2*.$2&$-%"2*"%&,"&($&$W"2b,$&,"& /2E"%*/W$)/:2&")+2:#/)$;& (+&M-"&R+,.3$&"%*$.&$%+)/$,+&$& ($&R+)$&,/%R+2/U/(/,$,&,"&/2I+.#$)/:2&"2&($%&I-"2*"%&+I/)/$("%&,"&/2I+.#$)/:2;&($&*"#R+.$(/,$,&,"&($&M-"&%"&,/%R+2"&0&($&2+&)+#R$.$U/(/,$,&"2*."&,/E".%$%&"%*$,3%*/)$%A
P$&."($)/:2&"2*."&*-./%#+&0&"#R("+&"%&-2&+UG"*+&,"&"%*-,/+&)+#R("G+&"2&"(&M-"&"%&2")"%$./+&)+2*"#R($.&,/E".%$%&,/#"2%/+2"%&"2&%-&$U+.,$G";&
><=
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
"2*."&+*.+%;&%"&"2)-"2*.$2&$%R")*+%&)+#+&($&)$(/,$,&,"(&"#R("+&W"2".$,+&0&%-&)+2*./U-)/:2&$&($&R.+,-)*/E/,$,&2$)/+2$(&0&$(&,"%$..+((+&,"&($&%+)/"b,$,;&*"#R+.$(/,$,&"2&"(&"#R("+&R+.&R$.*"&,"&(+%&*.$U$G$,+."%&0&)$(/,$,&,"&E/,$;&$R+.*$)/:2&,"(&"#R("+&*-.3%*/)+&$(&,"%$..+((+&*")2+(:W/)+;&).")/b#/"2*+&")+2:#/)+&0&,/%*./U-)/:2&,"&($&./M-"L$A
12&)+2%")-"2)/$;&)+2&"%*"&*.$U$G+&%"&U-%)$&-2&R./#".&$)".)$#/"2*+&$&"%*"&$2V(/%/%;&(+&M-"&R".#/*"&$U+2$.&$(&)+2+)/#/"2*+&,"&-2&%")*+.&%-b#$#"2*"&S"*".+W52"+;&"(&)-$(&R."%"2*:&-2&).")/#/"2*+&,"(&"#R("+&,"&>>AKe&R.+#",/+&$2-$(&"2*."&<==N&0&<==Oa&%/2&"#U$.W+;&"%*"&).")/#/"2*+&2+&I-"&."W/%*.$,+&"2&"(&/2)."#"2*+&)+.."%R+2,/"2*"&,"(&E$(+.&$W."W$,+;&#/%#+&M-"&I-"&"E/,"2)/$,+&$&R$.*/.&,"&($&"%*/#$)/:2&,"(&)+"I/)/"2*"&,"(&"#R("+A
12&*5.#/2+%&,"&"%R")/$(/L$)/:2&,"(&"#R("+;&(+%&."%-(*$,+%&#-"%*.$2&M-"&($&"%R")/$(/L$)/:2&,"(&"#R("+&"%*V&$%+)/$,$&$&($%&$)*/E/,$,"%&)$.$)*"b.3%*/)$%&,"(&%")*+.&*-.3%*/)+a&"%*"&."%-(*$,+&2+&"%&)+2)(-0"2*";&"2&"(&%"2*/b,+&M-"&*"2,.3$&M-"&"%*$.%"&)+#R$.$2,+&$&($&R.+,-)*/E/,$,&,"&"%*$%&.$#$%&)+2&"(&I/2&,"&/,"2*/I/)$.&$M-"(($%&M-"&R-",$2&%".&#+*+.&,"&$..$%*."&"2&"(&%")*+.&*-.3%*/)+A
P$& S"*".+W"2"/,$,& ,"(& %")*+.& %"& S/L+& $`2&#V%& "E/,"2*"& $(& )+2*$.&)+2&/2I+.#$)/:2&,"&($%&.$#$%&,"&$)*/E/,$,&R+.&"%*.$*+&"#R."%$./$(a& (+%&."%-(*$,+%&#-"%*.$2&($&/#R+.*$2)/$&,"&($%&#/).+;&R"M-"f$%&0&#",/$2$%&"#R."%$%&"2&($&"%*.-)*-.$&R.+,-)*/E$&,"(&%")*+.a&%"&"2)+2*.$.+2&#$.)$b,$%&"2&,+%&.$#$%&,"&$)*/E/,$,&"2&."($)/:2&)+2&"(&."%*+&,"&($%&.$#$%&M-"&)+#R+2"2&"(&%")*+.;&"2&"%R")3I/)+&*.$2%R+.*"&$5."+;&,+2,"&<=e&,"& ($%&-2/,$,"%&")+2:#/)$%&7W.$2,"%8&W"2".$2&#V%&,"&XKe&,"(&"#R("+&"2&($&.$#$a&%/*-$)/:2&%/#/($.&$&($&.$#$&,"&S+*"("%&0&#+*"("%;&,+2,"&($%&W.$2,"%&"#R."%$%&7NAKe&,"&($%&-2/,$,"%8&W"2".$2&#V%&,"&K=e&,"(&"#R("+A
1%*+%&."%-(*$,+%;&#V%&M-"&)+2)(-%/+2"%;&$U."2&2-"E$%&E"*$%&,"&+R+.b*-2/,$,&"2&($&/2E"%*/W$)/:2&,"(&/#R$)*+&,"(&*-./%#+&"2&($&W"2".$)/:2&,"&"#R("+&"2&($%&."W/+2"%&*-.3%*/)$%a&$%/#/%#+;&."%$(*$&($&$-%"2)/$&"&/#R+.b*$2)/$&,"&($&W"2".$)/:2&,"&/2I+.#$)/:2&$&2/E"(&,"&,"%*/2+&*-.3%*/)+;&"%R$b)/+%&,+2,"&,"&#$2".$&,/.")*$&%"&R."%"2*$&($&W"2".$)/:2&,"&"#R("+A&1(&)+2*$.&)+2&"%*+%&"("#"2*+%&R".#/*/.V&$&(+%&*+#$,+."%&,"&,")/%/+2"%&W"b2".$.&R($2*"$#/"2*+%&,"&R+(3*/)$&")+2:#/)$&M-"&R".#/*$2&($&R.+#+)/:2&,"(&,"%$..+((+&,"(&*-./%#+&U$G+&#+,"(+%&#V%&R".*/2"2*"%&R$.$&($&W"2".$b)/:2&,"&"#R("+&0&,/%*./U-)/:2&,"&($&./M-"L$;&$(&)+2*$.&)+2&"("#"2*+%&,"&)+2+)/#/"2*+&R$.$&"%*/#-($.&($%&$)*/E/,$,"%&,"&#$0+.&"I")*+&R+%/*/E+&"2&($%&"%*.-)*-.$%&")+2:#/)$&0&%+)/$(A
><>
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
G(&<3=3*3-0.,:&>.>4.5+*?=.0,:
_0J$);&_A&7<=>=8A&!+-./%#&1#R(+0#"2*Y&!+r$.,%&$2&Q2*"W.$*",&9+(/)0&_RR.+$)SA&E(+$%5#+l*E(*3($)&(+$#%(+5*0%<&(+5*%\*R%<,*+("*K%1;#$+5#$B*H)1)+&/QG&<>7>8;&RRA&>>b<ZA
F")"..$;&4A&7<==X8A&!-./%#+&0&*.$U$G+Y&D2$&$R.+6/#$)/:2&,"%,"&"(&#".)$,+&S+b*"(".+A&H)D#1$+*")*)1$<"#%1*&)7#%(+5)1*B*,)&/+"%*")*$&+4+U%G!"#$%!GD!--%!(&HI8%
F+%)S;&jA&P;&'-V."L;&'A;&0&n(/E$."%;&]A&7<==?8A&P$&/#R+.*$2)/$&,"&($&W"2".$)/:2&,"&"#R("+&)+#+&,/2$#/L$,+.$&,"(&,"%$..+((+&(+)$(&"2&-2&)"2*.+&*-.3%*/)+Y&'$2&H$.(+%&F$./(+)S"A&E;%&$)1*B*R&+(1\)&)(/#+1G!O7==<8;&RRA&<Kb??A
H"2*.+&,"&Q2E"%*/W$)/:2&R$.$&"(&@"%$..+((+&7,&0',8A&7<=>>8A&K+/)&5%*,)U%&=*u("#/)*")*;&%"</$#D#"+"*-2.#/%=*S**RYhhrrrA)/,$)A+.Wh"%Rh-R(+$,%h>hr"UAR,I
H.-L;&9A;&j-V."L;&jA;&D.)/$W$;&jA;&0&B-/L;&iA&7<=>?8A&9".%R")*/E$%&,"(&*-./%#+Y&H$%+&456/)+A&H)D#1$+*3($)&(+/#%(+5*")*E",#(#1$&+/#?(*B*C#(+(@+1G*Z7>8;&RRA&KNbdZA
@$(-#;& FA;& p"(,;& PA;& "*& $(A& 7>XXX8A& @+"%& %R")/$(/L$*/+2& #$**".& I+.& W.+r*St&3("<1$&#+5*+("*:%&;%&+$)*:Q+(7)G&O7<8A&n6I+.,&D2/E".%/*0&9."%%;&RRA&<dZb<OOA
]+U/".2+& ,"& (+%& 1%*$,+%& D2/,+%& 4"6/)$2+%;& 9."%/,"2)/$& ,"& ($& B"R`U(/)$A&7<==Z8A&'5+(*]+/#%(+5*")*[)1+&&%55%*^__iZ^_V^A&S**RYhhrrrA)"2/,"*A",-A#6h,+)%hR2,s<==Zs<=><AR,I
Q2%*/*-*+&4"6/)$2+&,"& ($&H+#R"*/*/E/,$,&7&4,"8A&7<=>N8;&]<)D+*;%59$#/+* $<&91$#Z/+*;+&+*&)/<;)&+&*5+*/%,;)$#$#D#"+"*")5*1)/$%&*B*")$%(+&*)5*")1+&&%55%*&)7#%(+5=&S**RYhh/#)+A+.WA#6hrRb)+2*"2*h-R(+$,%h<=>Nh>=h!-./%#+<=>NsH+#R("*+AR,I
Q2%*/*-*+& [$)/+2$(& ,"& 1%*$,3%*/)$;& ]"+W.$I3$& "& Q2I+.#V*/)$& 7&3$-&8A& 7<==?$8A&!1$+"91$#/+1*$<&91$#/+1*/%(*4+1)*)(*5%1*:)(1%1*!/%(?,#/%1*^__f=*S**RYhhrrrA/2"W/A+.WA#6h"%*h)+2*"2/,+%h9.+0")*+%h)"h)"<==?h*-./%#+A$%R6
{{A&7<==?U8A&-#/&%G*;)S<)T+G*,)"#+(+*B*7&+(*),;&)1+=*!1$&+$#\#/+/#?(*")*5%1*)1Z$+45)/#,#)($%1A& S**RYhhrrrA/2"W/A+.WA#6hR.+,s%".Eh)+2*"2/,+%h"%R$2+(hUE/b2"W/hR.+,-)*+%h)"2%+%h")+2+#/)+%h<==?h/2,-%*./$(h"%*.$*/I/)$<==?AR,I
{{A&7<==X8A&!1$+"91$#/+1*$<&91$#/+1*/%(*4+1)*)(*5%1*:)(1%1*!/%(?,#/%1*^__W=*{{A& 7%hI8A&:<)($+* >+$25#$)* ")* R<,%* )(*-2.#/%A& S**RYhhrrrA/2"W/A+.WA#6h"%*h
)+2*"2/,+%hR.+0")*+%h)2h*-.h,"I$-(*A$%R6j+S2%+2;&9A;&0&!S+#$%;&FA&7>XX=8A&1#R(+0#"2*&/2&*+-./%#Y&_&."E/"rA&3("<1$&#+5*
H)5+$#%(1*0%<&(+5G*<>7>8;&RRA&Ndb?OAp$,/0$(/;& \A;& 0& p+%+EV;&BA& 7<=>N8A& Q2*".b/2,-%*.0& "#R(+0#"2*& %R/((+E".%& I.+#&
*+-./%#&/2I(+r%=*H)7#%(+5*>/#)(/)*+("*6&4+(*!/%(%,#/1G!"#$%!J'D!--%!2(2K2I&%
p-#$./;&9A&7<=><8A&1%*/#$*/+2&+I&"#R(+0#"2*&,-"&*+&*+-./%#&/2&Q2,/$A&)R&+D)&1)G&N7>8A
P$,J/2W;&_A&7<=>>8A&16R(+./2W&*+-./%#&($U+.A&E((+51*%\*R%<,*H)1)+&/Q;&NO7N8;&RRA&>>NKb>>KKA
><<
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
P"0E$;&HA;&H$.+;&4A;& 0&95."L;&cA& 7<=>=8A& Q2I(-"2)/$&,"& ($& /2E".%/:2&"2&"(& %-Ub%")*+.&*-.3%*/)+&%+U."&(+%&2/E"("%&,"&"#R("+&"2&45./,$;&o-)$*V2A&H)D#1$+*")*!/%(%,9+*01!2G*<Z7ZK8;&RRA&NZbZ>A
4V.M-"L;&4A&7>XXd8A&1(&/#R$)*+&,"(&*-./%#+&"2&45./,$Y&D2&"%*-,/+&,"(&"#R("+&,"&#$2+&,"&+U.$&"2&(+%&"%*$U(")/#/"2*+%&,"&$(/#"2*+%&0&U"U/,$%A&!/%(%,9+G&<>7><8;&RRA&XXb><>A
n)"W-",$;& jA& 7<=>=8A& R)(")(/#+1* ")5* /&)/#,#)($%* )/%(?,#/%* )(* -2.#/%=&H+2I"."2)/$& Q2$-W-.$(& ,"(& QQ& i+.+& @/I"."2*"%& \/%/+2"%& ,"(& H.")/#/"2*+&1)+2:#/)+&"2&456/)+A
n(/E$;&4A;&0&')S"G*".;&HA&7<==d8A&1#R("+&"2&($%&.$#$%&)$.$)*".3%*/)$%&,"(&*-./%#+&"2&_.W"2*/2$A&E;%&$)1*B*R&+(1\)&)(/#+1G*>=7<8;&RRA&NdbdOA
n.W$2/L$)/:2&4-2,/$(& ,"(& !-./%#+& 7"418A& 7<=>N8A&'+(%&+,+*"/+* ")5* $<,%*#($)&(+/#%(+5=* S**RYhh#J*A-2r*+A+.Wh"%hR-U(/)$*/+2hR$2+.$#$b+#*b,"(b*-./%b#+b/2*".2$)/+2$(b",/)/+2b<=>N
9$/%;& jA& 7<==d8A& R%<,* ),;5%B,)($=* E(* +(+5B1#1* %\* \%&)#(7* $%<,* #(* 3("#+A&Q2%*/*/*-*"&I+.&'*-,/"%&/2&Q2,-%*./$(&@"E"(+R#"2*;&�+.J/2W&R$R".A&<==dh=?A
9"2$bF+M-"*";&oA;&0&95."Lb@$)$(;&@A&7<=><8A&!\\)/$1*%\*R%<,*r+7)1*+("*),Z;5%B,)($* \%&* $Q)*>;+(#1Q* &)7#%(1l*>)+1%(+5#$B* D)&1<1*R%<,*>;)/#+5#@+$#%(A&Q2*".2$*/+2$(&H+2I"."2)"&+2&B"W/+2$(&')/"2)"A
B+#+;&_A;&0&B"0"%;&1A&7<===8A&P$&+.W$2/L$)/:2&/2,-%*./$(&,"&_W-$%)$(/"2*"%&R+.&.$#$&,"&$)*/E/,$,A&3(D)1$#7+/#?(*B*:#)(/#+G&O7<>8;&RRA&?Nbd?A
'")*-.A&7<=>N8A&'&%7&+,+*>)/$%&#+5*")*R<,%*^_VXZ^_Vi=*S**RYhhrrrA%")*-.AW+UA#6hr+.Jh#+,"(%h%")*-.hB"%+-.)"hZKX?h>h/#$W"%hR.+W.$#$s*-./%#+AR,I
'S-/I$;&pA;&HS"2W-$2W;&9A;&j/$S-$;&9A;&o$2;&qA;&0&o/2W;&qA&7<=>>8A&!S"&#-(*/R(/".&"II")*&+I&*S"&,"E"(+R#"2*&+I&I+."%*&R$.J&*+-./%#&+2&"#R(+0#"2*&/2&HS/2$A&0%<&(+5*%\*!,;5%B,)($*:%<(1)5#(7G&?O7N8;&RRA&>Ndb>??A
!/2+)+;&nA&7<==N8A&P+%&/#R$)*+%&,"(&*-./%#+&"2&"(&9".`A&3("<1$&#+5*[+$+G&d7>8;&RRA&?Zbd=A
!+$,".;&\A&7<=>>8A&!S"&")+2+#/)&"II")*%&+I&*+-./%#Y&!S"&)$%"&+I&.+#$2/$2&")+b2+#0A&>$<"#+*6(#D)&1#$+$#1*I+4)1ZI5#B+#G*])7%$#+G&)7&7>8;&RRA&K<bdKA
><N
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
I(&8-3S5:
E().%*V=*-2.#/%l*1)/$%&)1*B*&+,+1*")*+/$#D#"+"*)/%(?,#/+*S<)*/%,;&)(")(*5+*+/$#D#"+"*$<&91$#/+
E/$#D#"+" E/$#D#"+" E/$#D#"+"
'")*+.&?d&)+#".)/+&$(&R+.&#"2+.
B$#$&?OZ<&*.$2%R+.*"&*-.3%*/)+&R+.&$W-$
B$#$&d>>K&"%)-"($%&,"&+I/)/+%
B$#$&?d<>&)+#".)/+&$(&R+.&#"2+.&"2&*/"2,$%&,"&$-*+%".E/)/+
B$#$&?OZX&+*.+&*.$2%R+.*"&*-.3%*/)+
B$#$&d>>d&+*.+%&%".E/)/+%&",-)$*/E+%
B$#$&?d<<&)+#".)/+&$(&R+.&#"2+.&"2&*/"2,$%&,"R$.*$#"2*$("%
B$#$&?OO>&%".E/)/+%&."($)/+2$,+%&)+2&"(&*.$2%R+.*"&$5."+
B$#$&d>>Z&%".E/)/+%&,"&$R+0+&$&($&",-)$)/:2
B$#$&?dN<&)+#".)/+&$(&R+.&#"2+.&,"&.+R$;&U/%-*".3$&0&$))"%+./+%&,"&E"%*/.
B$#$&?OON&%".E/)/+%&."($)/+2$,+%&)+2&"(&*.$2%R+.*"&R+.&$W-$
'")*+.&Z>&%".E/)/+%&,"&"%R$.)/#/"2*+;&)-(*-.$("%&0&,"R+.*/E+%;&0&+*.+%&%".E/)/+%&.")."$*/E+%
B$#$&?dNN&)+#".)/+&$(&R+.&#"2+.&,"&)$(L$,+
B$#$&?OO?&%".E/)/+%&."($)/+2$,+%&)+2&"(&*.$2%R+.*"&R+.&)$.."*".$
B$#$&Z><>&#-%"+%;&%/*/+%&S/%*:./)+%;&L++(:W/)+%&0&%/#/($."%
B$#$&?d?>&)+#".)/+&$(&R+.&#"2+.&,"&$.*3)-(+%&R$.$&"(&)-/,$,+&,"&($&%$(-,
'")*+.&K<&%".E/)/+%&I/2$2)/".+%&0&,"&%"W-.+%
B$#$&Z>N>&R$.M-"%&)+2&/2%*$($)/+2"%&.")."$*/E$%&0&)$%$%&,"&G-"W+%&"(")*.:2/)+%
B$#$&?dK>&)+#".)/+&$(&R+.&#"2+.&,"&$.*3)-(+%&,"&R".I-#".3$&0&G+0".3$
B$#$&K<N>&)$%$%&,"&U+(%$;&)$%$%&,"&)$#U/+&0&)"2*.+%&)$#U/$./+%
B$#$&Z>NX&+*.+%&%".E/)/+%&.")."$*/E+%
B$#$&?dK<&)+#".)/+&$(&R+.&#"2+.&,"&$.*3)-(+%&R$.$&"(&"%R$.)/#/"2*+
'")*+.&KN&%".E/)/+%&/2#+U/(/$./+%&0&,"&$(M-/(".&,"&U/"2"%&#-"U("%&"&/2*$2W/U("%
'")*+.&Z<&%".E/)/+%&,"&$(+G$#/"2*+&*"#R+.$(&0&,"&R."R$.$)/:2&,"&$(/#"2*+%&0&U"U/,$%
B$#$&?dKN&)+#".)/+&$(&R+.&#"2+.&,"&$.*3)-(+%&,"&R$R"(".3$;&(/U.+%;&."E/%*$%&0&R"./:,/)+%
B$#$&KN>>&$(M-/(".&%/2&/2*".#",/$)/:2&,"&U/"2"%&.$3)"%
B$#$&Z<>>&S+*"("%;&#+*"("%&0&%/#/($."%
B$#$&?dKX&)+#".)/+&$(&R+.&#"2+.&,"&#$%)+*$%;&."W$(+%;&$.*3)-(+%&."(/W/+%+%;&,"%")S$U("%&0&+*.+%&$.*3)-(+%&,"&-%+&R".%+2$(
B$#$&KN><&/2#+U/(/$./$%&0&)+..",+."%&,"&U/"2"%&.$3)"%
B$#$&Z<><&)$#R$#"2*+%&0&$(U".W-"%&.")."$*/E+%
><?
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
E/$#D#"+" E/$#D#"+" E/$#D#"+"
B$#$&?ddN&)+#".)/+&$(&R+.&#"2+.&,"&$.*3)-(+%&R$.$&($&,")+.$)/:2&,"&/2*"./+."%
B$#$&KN<?&$(M-/(".&,"&#$M-/2$./$&0&"M-/R+&$W.+R")-$./+;&R"%M-".+;&/2,-%*./$(;&)+#".)/$(&0&,"&%".E/)/+%
B$#$&Z<>N&R"2%/+2"%&0&)$%$%&,"&S-5%R","%;&0&,"R$.*$#"2*+%&0&)$%$%&$#-"U($,+%&)+2&%".E/)/+%&,"&S+*"(".3$
B$#$&?dO?&)+#".)/+&$(&R+.&#"2+.&,"&)+#U-%*/U("%;&$)"/*"%&0&W.$%$%&(-U./)$2*"%
'")*+.&K?&%".E/)/+%&R.+I"%/+2$("%;&)/"2*3I/)+%&0&*5)2/)+%
B$#$&Z<<>&."%*$-.$2*"%&)+2&%".E/)/+&)+#R("*+
'")*+.&?Ob?X&*.$2%R+.*"%;&)+.."+%&0&$(#$)"2$#/"2*+
B$#$&K?>X&+*.+%&%".E/)/+%&R.+I"%/+2$("%;&)/"2*3I/)+%&0&*5)2/)+%
B$#$&Z<<<&."%*$-.$2*"%&,"&$-*+%".E/)/+;&)+#/,$&R$.$&(("E$.&0&+*.+%&."%*$-.$2*"%&)+2&%".E/)/+&(/#/*$,+
B$#$&?O>>&*.$2%R+.*"&$5."+&."W-($.
'")*+.&Kd&%".E/)/+%&,"&$R+0+&$&(+%&2"W+)/+%&0&#$2"G+&,"&,"%")S+%&0&%".E/)/+%&,"&."#",/$)/:2
B$#$&Z<<?&)"2*.+%&2+)*-.2+%;&U$."%;&)$2*/2$%&0&%/#/($."%
B$#$&?O><&*.$2%R+.*"&$5."+&2+&."W-($.
B$#$&Kd>K&$W"2)/$%&,"&E/$G"%&0&%".E/)/+%&,"&."%".E$)/+2"%
'")*+.&O>&+*.+%&%".E/)/+%&"6)"R*+&$)*/E/,$,"%&W-U".2$#"2*$("%
B$#$&?O<>&*.$2%R+.*"&R+.&I"..+)$../(
B$#$&Kd>X&+*.+%&%".E/)/+%&,"&$R+0+&$&(+%&2"W+)/+%
B$#$&O><>&%$(+2"%&0&)(32/)$%&,"&U"(("L$;&U$f+%&R`U(/)+%&0&U+(".3$%
B$#$&?ON>&*.$2%R+.*"&#$.3*/#+
'")*+.&d>&%".E/)/+%&",-)$*/E+%
B$#$&O><X&%".E/)/+%&,"&."E"($,+&"&/#R."%/:2&,"&I+*+W.$I3$%&0&+*.+%&%".E/)/+%&R".%+2$("%
B$#$&?ON<&*.$2%R+.*"&R+.&$W-$%&/2*"./+."%
B$#$&d>>>&"%)-"($%&,"&",-)$)/:2&UV%/)$;&#",/$&0&R$.$&2")"%/,$,"%&"%R")/$("%
B$#$&O>N>&$%+)/$)/+2"%&0&+.W$2/L$)/+2"%&)+#".)/$("%;&($U+.$("%;&R.+I"%/+2$("%&0&.")."$*/E$%
B$#$&?OKK&$(M-/(".&,"&$-*+U-%"%&)+2&)S+I".
B$#$&d>><&"%)-"($%&,"&",-)$)/:2&R+%U$)S/((".$*+
&
B$#$&?OZ>&*.$2%R+.*"&*-.3%*/)+&R+.&*/"..$
B$#$&d>>N&"%)-"($%&,"&",-)$)/:2&%-R"./+.
&
&
><K
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
E().%*^=*-2.#/%l*$+,+T%*,)"#%*")*),;&)1+*)(*&+,+1*$<&91$#/+1*&)5+/#%(+"+1*/%(*)5*$&+(1;%&$)
H+,+ R+,+T%*),;&)1+
^__X ^__g ^__X ^__g
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
+/,
B$#$&?O>>&*.$2%R+.*"&$5."+&."W-($.
!+*$( ?< <N;Kd= ?N <O;O<? Kd=AXK dZ=ANN4/).+ >N N>d &z >= <?AN> z9"M-"f$ N N=? X ?OK >=>ANN KNAOX4",/$2$ K ?ZN Z K=O X?Ad= Z<AKZ].$2," X <<;?dZ Z <Z;O<> <?XdANN NXZ?A?N
B$#$&?O><&!.$2%R+.*"&$5."+&2+&."W-($.
!+*$( >NZ <;>N> >>> <;NON >KAKK <>A?Z4/).+ >>Z >;d=X d> NK< >NAZK KAZZ9"M-"f$ z ?<< >? ZKK z KNAXN4",/$2$ z >== &z <ZN z z].$2," & & z >;==N & z
B$#$&?O<>&*.$2%R+.*"&R+.&I"..+)$../(
!+*$( z >?;K<N &z >N;Z>? z z9"M-"f$ z >d & & z &4",/$2$ & & &z O= & z].$2," z >?;K=Z z >N;dN? z z
B$#$&?ON>&*.$2%R+.*"&#$.3*/#+
!+*$( >O N;d=d >O N;=KX <==ANN >dXAX?4/).+ z O=< z <= z z9"M-"f$ z KN z X> z z4",/$2$ z <Xd &z <K> z z].$2," z <;?KK z <;dXZ z z
B$#$&?ON<&*.$2%R+.*"&R+.&$W-$%&/2*"./+."%
!+*$( Ndd >;O=Z <OO >;ZXO ?AX? dA<?4/).+ N<> Z<d <?d dK= <A<d <Ad?9"M-"f$ NO OX> NO O=N <NA?K <>A>N4",/$2$ z >X= &z <=K z z].$2," & & &z >?= & z
B$#$&?OKK&$(M-/(".&,"&$-*+U-%"%&)+2&)S+I".
!+*$( <d NNK ><> >;KZ= ><AOO ><AXO4/).+ O Kd OZ NOO ZA== ?A?d9"M-"f$ = X? >= KZd z KZAd=4",/$2$ z dX &z <=N z z].$2," z >>d &z ?=N z z
B$#$&?OZ>&*.$2%R+.*"&*-.3%*/)+&R+.&*/"..$
!+*$( >;=ZX >=;NNZ ZKd >=;>X? XAKO >NA?O4/).+ X== N;=Xd K<X <;NOZ NA?? ?AK>9"M-"f$ >KN N;<?> >XX ?;>NX <>A>O <=AO=4",/$2$ >N XKN >K >;=ON ZNAN> Z<A<=].$2," z N;=?Z z <;KOK z z
B$#$&?OZ<&*.$2%R+.*"&*-.3%*/)+&R+.&$W-$
!+*$( >;>dO >=;dNZ ZXN O;=<d XA>> >=A><4/).+ XdO N;OON d>O <;>NZ ?A=> NA?d9"M-"f$ >Z? N;Z>? >KK N;=Xd <>AN? >XAXZ4",/$2$ <= >;NOX &z >;=XO dXA?K z].$2," z >;dK> z >;dXK z z
B$#$&?OZX&+*.+&*.$2%R+.*"&*-.3%*/)+
!+*$( z <K &z N? z z9"M-"f$ z <K z N? z z
><d
!"#$"%&'%("##)*%+##,-$".%/$01,1%2"13#-%4$5"#,6%7%8,191%+*3-*0-%:";,#"%<"=>,=-
H+,+ R+,+T%*),;&)1+
^__X ^__g ^__X ^__g
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
+/,
B$#$&?OO>&%".E/)/+%&."($)/+2$,+%&)+2&"(&*.$2%R+.*"&$5."+
!+*$( <=d ><;KXZ <Nd >N;<O< d>A>K KdA<O4/).+ K> <ZZ dZ ?=d KA?N dA=d9"M-"f$ >=d <;OXN >>? <;X=< <ZA<X <KA?d4",/$2$ <? >;Z<< N? <;NNZ Z>AZK dOAZ?].$2," >O Z;Z=K >K Z;dNZ ?<OA=d K=XA>N
B$#$&?OON&%".E/)/+%&."($)/+2$,+%&)+2&"(&*.$2%R+.*"&R+.&$W-$
!+*$( NO N;=ZN NK N;=OX O=AOZ OOA<d4/).+ z ?N z >X z z9"M-"f$ O ??O z N<N KdA== z4",/$2$ z dNZ >> Z=d z d?A>O].$2," Z >;X?K z <;=?> <ZZAOd z
B$#$&?OO?&%".E/)/+%&."($)/+2$,+%&)+2&"(&*.$2%R+.*"&R+.&)$.."*".$
!+*$( ?OX >O;?XO NO? >K;ZNK NZAON ?=AXO4/).+ <=? Z<? ><K ?X? NAKK NAXK9"M-"f$ >XZ K;>ZZ <>< K;dZ< <dA<O <dAZK4",/$2$ Kd N;dO> <Z >;X=K dKAZN Z=AKd].$2," <> O;X>d >? Z;dd? ?<?AKZ K?ZA?N
z&1(&,$*+&2+&"%*V&,/%R+2/U("Ai-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#$)/:2&,"&($%&1%*$,3%*/)$%&,"&*-./%#+&)+2&U$%"&"2&
(+%&H"2%+%&1)+2:#/)+%;&<==?&0&<==X;&&3$-&A
E().%*X=*-2.#/%l*$+,+T%*,)"#%*")*),;&)1+*)(*&+,+1*$<&91$#/+1*&)5+/#%(+"+1*/%(*)"</+/#?(*B*&)/&)+/#?(
H+,+ R+,+T%*),;&)1+
^__X ^__g ^__X ^__g
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
+/,
B$#$&d>>>&"%)-"($%&,"&",-)$)/:2&UV%/)$;&#",/$&0&R$.$&2")"%/,$,"%&"%R")/$("%
!+*$( z <dK >=N >;N=K z ><AdZ4/).+ z >d KO <OO z ?AXZ9"M-"f$ z <?X NX Xd? z <?AZ<4",/$2$ ! ! &z KN ! z
B$#$&d>><&"%)-"($%&,"&",-)$)/:2&R+%U$)S/((".$*+
!+*$( >Z >dK >ZX >;ZZd XAZ> XAX<4/).+ Z ZX >=K KK> >>A<X KA<K9"M-"f$ z Od dN >;<<K z >XA??
B$#$&d>>N&"%)-"($%&,"&",-)$)/:2&%-R"./+.
!+*$( >NN N=;>Z= >;N=N Z<;XK= <<dAO? KKAXX4/).+ z ?Z ?<= <;=>O z ?AO=9"M-"f$ Nd >;>Xd KdK >?;KZ? NNA<< <KAZX4",/$2$ <= >;??? >Kd >=;dKO Z<A<= dOAN<].$2," Kd <Z;?ON >d< ?K;Z== ?X=AZZ <O<A>=
B$#$&d>>K&"%)-"($%&,"&+I/)/+%
!+*$( NZ ?NO K?X ?;=ZO >>AO? ZA?N4/).+ >> ><? ?K> >;d<d >>A<Z NAd>9"M-"f$ z >>N X> >;OdN z <=A?Z4",/$2$ z <=> &z NXX z z].$2," ! ! &z >X= ! z
><Z
!"#$%&'()(*&+,*'(*-(./0$1'2(3-4(+#$&*#4(4+#'0$&41$5-
H+,+ R+,+T%*),;&)1+
^__X ^__g ^__X ^__g
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
6(#"+")1*)/%(?,#/+1
')&1%(+5*%/<;+"%
+/,
B$#$&d>>d&+*.+%&%".E/)/+%&",-)$*/E+%
!+*$( <? ><K d>> ?;=<= KA<> dAKO4/).+ >= >>= K?< >;Z=? >>A== NA>?9"M-"f$ z >K d> >;?>< z <NA>K4",/$2$ ! ! &z <== ! z].$2," ! ! &z Z=? ! z
B$#$&d>>Z&%".E/)/+%&,"&$R+0+&$&($&",-)$)/:2
!+*$( z > >d< >;??< z OAX=4/).+ z > >?> ?dO z NAN<9"M-"f$ ! ! z NZK ! z4",/$2$ ! ! &z >N> ! z].$2," ! ! &z ?dO ! z
B$#$&Z><>&#-%"+%;&%/*/+%&S/%*:./)+%;&L++(:W/)+%&0&%/#/($."%
!+*$( XN >;d<< NO= ?;<N> >ZA?? >>A>N4/).+ d= <N? N>N X>> NAX= <AX>9"M-"f$ z KO? ?> >;=<K z <KA==4",/$2$ z NZZ X d<> z dXA==].$2," z ?<Z X >;dZ? z >OdA==
B$#$&Z>N>&R$.M-"%&)+2&/2%*$($)/+2"%&.")."$*/E$%&0&)$%$%&,"&G-"W+%&"(")*.:2/)+%
!+*$( <;OK= >=;NOK O;NZd <d;KNO NAd? NA>Z4/).+ <;O== ?;OO= O;>Z> >K;NdK >AZ? >AOO9"M-"f$ <K OdX >d? N;<OK N?AZd <=A=N4",/$2$ z >OO <d >;O=N z dXANK].$2," z ?;??O Z d;=OK z OdXA<X
B$#$&Z>NX&+*.+%&%".E/)/+%&.")."$*/E+%
!+*$( N;N>< <<;dN= Z;X=N ?K;X=< dAON KAO>4/).+ N;=>K O;<=X Z;NNO >X;<<d <AZ< <Ad<9"M-"f$ <Nd ?;XO< ?d< X;?=O <>A>> <=ANd4",/$2$ <O >;XOd K< N;ZZd Z=AXN Z<Ad<].$2," <N Z;?KN NO >N;?X< N<?A=? NKKA=K
z&1(&,$*+&2+&"%*V&,/%R+2/U("Ai-"2*"Y&"($U+.$)/:2&R.+R/$&)+2&/2I+.#$)/:2&,"&($%&1%*$,3%*/)$%&,"&*-./%#+&)+2&U$%"&"2&
(+%&H"2%+%&1)+2:#/)+%;&<==?&0&<==X;&&3$-&A
