L!6!(0!"*"6!$X!!"(4#:00:(6!($A)($ !0*3:*)73*"0"!.:(6=
!0*73(36!7!(*$:(@$N(*["1C#:(6
g30!̀N$$(300RW!B$%O230!-&%=A%9Y
RI9G2#(%<80!B8K$:39%!U(H¥!
D39#%04$9L!ee!
̀5MYXY]!D#0<%0 g30L̀=%$$(300h39G2#(%<80L<%
Y¥8G24G2=&%!q403H9NGA V39H3934$9L!Re
̀5X̲T]e!q403H9NGA BL-&%=A%9h¥B5q403H9=%GAL<%
>O0*.31*¥! ̀#%!I=$8(3$#4#%9=0'!F80!"%4$O987%44%0!H#%$%$!%#0!282%4!E#04O39=0'45 O8$%07#3&!H%#!<%9!B8K$:39%5E0$:#GA&=0'L!IH2)0'#'!F8(!7=!$%4$%0<%0!@98<=A$!(=44
<37=!%#0!O344%0<%9!I=$8(3$#4#%9=0'43043$7!(#$!<%0!9#G2$#'%0!C%9A7%='%0W!689'%5 2%04:%#4%0!=0<!3H'%4$#(($%0!E0$:#GA&=0'4O987%44%0!'%K=0<%0!:%9<%0L!̀%9!E95 K8&'!2)0'$!<3H%#!3=G2!<3F80!3HW!<344!<#%!9#G2$#'%0!"%4$4!%0$:#GA%&$W!<#%4%!"%4$4 4$9=A$=9#%9$!F%9:3&$%$!=0<!"%4$F89'3H%0!#0!<%9!E0$:#GA&=0'!H%9NGA4#G2$#'$!:%9<%0L
̀#%4%9 ! V%9#G2$ ! 3H4$932#%9$ !E9K8&'4K3A$89%0 ! 3=4'%2%0< ! F80 !<%9 ! E#0KN29=0' !%#0%9
"%4$3=$8(3$#4#%9=0' ! H%# ! %#0%( ! A&%#0%0 ! B8K$:39%5E0$:#GA&=0'4=0$%90%2(%0W ! <#%
H%#!<%9!U%4$3&$=0'!%#0%4!#0<#F#<=%&&%0!"%4$O987%44%4!%#0%!:%4%0$&#G2%!c8&&%!4O#%5
&%0W!<3(#$!3=G2!<#%!"%4$3=$8(3$#4#%9=0'!(#$!0%=%0!$%G208&8'#4G2%0!¥%93=4K89<%5 9=0'%0!(#$:3G24%0!A300L!
F$N"(#!"*:(6
̀#%!$^O#4G2%!¥#4$89#%!%#0%4!A&%#0%0!8<%9!(#$$%&'98,%0!J0$%90%2(%04!;-DJ?!#(!V%9%#G2 B8K$:39%5E0$:#GA&=0' !H%4$%2$ !(%#4$ !<39#0W ! <344 ! EfO%9$%0 ! %#0%4 !I0:%0<=0'4H%9%#G24 K%4$4$%&&%0W!<344!4#%!%#0%!B8K$:39%!H%0.$#'%0W!<#%!3=K!#29%!#0<#F#<=%&&%0!I0K89<%9=0'%0 7='%4G20#$$%0!#4$W!<#%4%!3H%9!0#G2$!K#0<%0L!!̀#%4!KN29$!%0$:%<%9!7=9!r%='9N0<=0'!%#0%9 j#9(3!8<%9!%#0%!B8K$:39%!:#9<!#0!%#0%9!j#9(3!#00%923&H!<%4!I0:%0<=0'4H%9%#G24!%0$:#5 GA%&$L!I04G2&#%,%0<!4$%&&%0!D#$39H%#$%9!<300!K%4$W!<344!<#%4%!0%=!%0$:#GA%&$%!B8K$:39%
3=G2!KN9!30<%9%!J0$%90%2(%0!0=$7H39!4%#0!A300L!BG2&#%,&#G2!:#9<!<#%!I=4'9N0<=0'!%#0%9 E0$:#GA&=0'4K#9(3!#0#$##%9$L!jN9!<%0!E9K8&'!<%4!-DJ!#4$!%4!0=0!%44%07#%&&W!<#%!4O%7#%&&%0 CN04G2%!<%4!I0:%0<=0'4H%9%#G24!7=!A%00%0W!=(!4#G2!'%'%0!30<%9%!¥%94$%&&%9W!F#%&5
&%#G2$!K=0A$#803&!()G2$#'%9%9!3H%9!3=K:)0<#'!307=O344%0<%9!B8K$:39%W!<=9G27=4%$7%0L qK$!3=G2!820%!r3G223&$#'A%#$!#(!-3&AN&!7=!23H%0L
D#$!<%0!%94$%0!D39A$%9K8&'%0!:%9<%0!BG29#$$!KN9!BG29#$$!0%=%!1<%%0!=0<!#0<#F#<=%&&%
-=0<%0:N04G2%!#0!<#%!B8K$:39%!%#0'%H3=$L!̀3H%#!(=44!%#0!8K$(3&4!A&%#0%4W!%0'!7=43(5 (%039H%#$%0<%4 ! "%3( ! F80 ! E0$:#GA&%90 ! K9N2%9 ! 8<%9 ! 4O)$%9 ! O%9480%&& ! %9')07$ ! :%9<%0L
BG2&#%,&#G2!(=44!%#0!9%#H=0'4&84%9!pH%9'30'!F80!<%9!|#0<#F#<=%&&%0!¥%&<%0O98'93((#%5 9=0'{W!H%#!<%9!3&&%!V%$%#&#'$%0!3&&%!̀%$3#&4!<%4!@98'93((5a8<%4!A%00%0W!7=(!4^4$%(3$#5 4G2%0!B8K$:39%!E0'#0%%9#0'!4$3$$K#0<%0L!i:39!'#H$!%4!2#%97=!%#0%!6#%&732&!2#&K9%#G2%9!b#5
$%93$=9W!3&&%9<#0'4!#4$!<#%!j93'%W!:%&G2%9!"%#&O987%44!3&4!%94$%4!F%9H%44%9$!:%9<%0!48&&$%W 0#G2$!%#0K3G2!7=!H%30$:89$%0L!j3&4G2%!E0$4G2%#<=0'%0!A.00%0!2#%9H%#!&%#G2$!<#%!Ef#4$%07
%#0%4!-DJ!'%K)29<%0W!4G2&#%,&#G2!(=44!<34!$)'&#G2%!U%4G2)K$!A80$#0=#%9&#G2!:%#$%9&3=5 K%0L!!!
̀#%4%!I9H%#$!7%#'$!7=0)G24$W!:#%!3=K!U9=0<&3'%!%#0%9!43=H%9%0!I03&^4%!%#0%!%9K8&'9%#G2%
6%9H%44%9=0'!<%4!B8K$:39%5E0$:#GA&=0'4O987%44%4!#(!V%9%#G2!<%9!"%4$3=$8(3$#4#%9=0' (#$!BG2:%9O=0A$!3=K!<%(!UJ15"%4$!<=9G2'%KN29$!:=9<%L!I=4'%2%0<!F80!E9A%00$0#44%0
<%9!j3&&4$=<#%!:%9<%0!-9#$%9#%0!3H'%&%#$%$W!<#%!(3,'%H&#G2!KN9!%#0!4^4$%(3$#4G2%4!%9K8&'5 9%#G2%4!"%4$%0!4#0<L!̀3H%#!7%#'$!4#G2!4G20%&&W!<344!:%4%0$&#G2%!j3A$89%0!3=G2!3=,%923&H
<%4!-%90H%9%#G24!<%9![=3&#$)$44#G2%9=0'!;[B?!&#%'%0L!̀34!i#%&!#4$!%4W!&30'K9#4$#'!%9K8&'5 9%#G2%!B8K$:39%5B^4$%(%!7=!'%4$3&$%0W!<%9%0!E0$:#GA&=0'!2#%9!=0$%9!<%(!V%'9#KK!|b80'5
$%9(!B8K$:39%!E0'#0%%9#0'{!;b8$BE?!7=43((%0'%K344$!:#9<L!b8$BE!H%4G2)K$#'$!4#G2!(#$
<%0!08$:%0<#'%0!@987%44%0W!<#%!K9N27%#$#'!#0!%#0%9!B8K$:39%5!E0$:#GA&=0'!H%9NGA4#G2$#'$
:%9<%0!(N44%0W!<3(#$!B8K$:39%!NH%9!F#%&%!g329%!:39$5!=0<!%9:%#$%9H39!H&%#H$L!̀3H%#
(N44%0!<#%!@987%44%!#(!b3=K%!<%9!E0$:#GA&=0'47%#$!(#$!<%9!@98<=A$'9.,%!:3G24%0!=0<
A80$#0=#%9&#G2!3=K!08$:%0<#'%!-899%A$=9(3,032(%0!=0<!(.'&#G2%!qO$#(#%9=0'%0!2#0
=0$%94=G2$!:%9<%0L
̀#%!I9H%#$%0!:=9<%0!$%#&:%#4%!(#$!D#$$%&0!<%4!V=0<%4(#0#4$%9#=(4!KN9!V#&<=0'!=0<!j895 4G2=0'!;VDVj?!#(!@98P%A$!-8F%9g3!;-899%A$%!F%9$%#&$%!g3F35@98'93((%?!<=9G2'%KN29$L
H$S3##0*:@"!$
̀#%4%4!-3O#$%&!K344$!30K)0'&#G2!:%4%0$&#G2%!E9'%H0#44%!<%9!#0!n¥%#RYo!3=4'%39H%#$%$%0
=0<!#0!n¥-RYo!3=KH%9%#$%$%0!j3&&4$=<#%!7=43((%0!=0<!%9')07$ !3A$=%&&%!E9A%00$0#44%
H%#(!E#043$7!<%9!"%4$3=$8(3$#4#%9=0'L
HVF$5.)@:C*$:(@$;(*!.(!27!(
̀#%!j#9(3!I9G2#(%<80!(#$!<%0!B$30<89$%0!D#0<%0!=0<!q403H9NGA!#4$!YTTX!3=4!<%(
"%G208&8'#%A807%90!IVV!2%9F89'%'30'%0W!%#0%(!<%9!KN29%0<%0!J0$%90%2(%0!KN9!I05
&3'%0H3=W!E0%9'#%5!=0<!I=$8(3$#4#%9=0'4$%G20#AL
̀#%!(8<=&39!'%4$3&$%$%!B8K$:39%K3(#&#%!3<(#&%8£!#4$!%#0%!O98K%44#80%&&%!b.4=0'!KN9!7=5 A=0K$489#%0$#%9$%4!D=&$#O98P%A$(303'%(%0$!;D@D?W!q9'30#43$#8045!=0<!@%94803&(3035 '%(%0$!;q@D?W!U%4G2)K$4(303'%(%0$!;UBD?W!@98<=A$&%H%047^A&=4(303'%(%0$!;@bD?
48:#%!KN9!%#0%!#0$%&&#'%0$%W!3H$%#&=0'4NH%9'9%#K%0<%!I=K'3H%04$%=%9=0'L!!3<(#&%8£!&)44$
4#G2!032$&84!30!H%4$%2%0<%!Ec@5!=0<!¥cD5B^4$%(%!30A8OO%&0W!:8H%#!%#0!̀3$%03=45
$3=4G2!H#4!3=K!$#%K4$%!EH%0%0!%9(.'&#G2$!:#9<L!
̀#%!@98P%G$!30<!V=4#0%44!B8K$:39%!3<(#&%8!H34#%9$!=94O9N0'&#G2!3=K!%#0%9!#0$%90%0!B8K$5 :39%&.4=0' !KN9 ! <34 !D303'%(%0$ ! F80!U98,O98P%A$%0 !#( !-93K$:%9A4H3=L !̀34 !B^4$%(
:=9<%!4%#$!YTTe!(#$!%#0%9!A8(O&%$$!0%=%0!$%G20#4G2%0!V34#4!=0$%9!A804%d=%0$%9!r=$7=0' F80!g3F3!0%=!%0$:#GA%&$L!E4!:#9<!4%#$<%(!A80$#0=#%9&#G2!%9:%#$%9$L!E$:34!<%$3#&&#%9$%9 230<%&$!%4!4#G2!H%#!3<(#&%8!=(!%#0!(8<=&39!3=K'%H3=$%4!a&#%0$5B%9F%95B^4$%(!(#$!̀35
$%0H30A30H#0<=0'W!:%&G2%4!K34$!3=4032(4&84!#0!g3F3!#(O&%(%0$#%9$!#4$L!̀%9!B%9F%9!H#&<%$
<#%!BG20#$$4$%&&%!7=9!̀3$%0H30A!=0<!NH%90#(($!<#%!V%0=$7%9F%9:3&$=0'!=0<!<#%!B$%=%5 9=0'!<%9!-8((=0#A3$#80!(#$!<%0!a&#%0$4L!E9!A300!3=K!<#%4%!C%#4%!7=(!V%#4O#%&!<#%!IA5
$=3#%9=0'!<%9!a&#%0$4!F%930&344%0W!:8<=9G2!<34!B^4$%(!%#0%!A8&&3H89#%9%0<%!I9H%#$45 :%#4%!<%9!r=$7%9!#0!EG2$7%#$!'%:)29&%#4$%$L!̀#%!V%0=$7%98H%9K&)G2%!F80!3<(#&%8!H34#%9$
3=K ! <%( ! B:#0'5j93(%:89A ! =0< ! F%9:%0<%$ ! 732&9%#G2% ! (8<#K#7#%9$% ! =0< ! %9:%#$%9$%
B:#0'5E&%(%0$%!KN9!<#%!̀394$%&&=0'!=0<!<#%!j=0A$#803&#$)$!<%9!UJ15E&%(%0$%L!I0:%05
<=0'4H%#4O#%&%!2#%9KN9!4#0<!<#%!'93K#4G2%!I=K:%9$=0'!F80!r3F#'3$#804H)=(%0!=0<!<#%
̀394$%&&=0'!=0<!E<#$#%9=0'!F80!U93O2%0!=0<!̀#3'93((%0L
IHH#&<=0'!Rm!I0:%0<%9(8<=&%!F80!3<(#&%8
̀#%!F#%9!¥3=O$H%9%#G2%!F80!3<(#&%8!H%4$%2%0!<%97%#$!3=4!YX!I0:%0<%9(8<=&%0W!4#%2%
IHH#&<=0'!RW!=0<!YS!-80K#'=93$#804(8<=&%0!KN9!%#0%!#0<#F#<=%&&%!@987%4430O344=0'!#0
<%9!-=0<%0=('%H=0'L!̀34!B^4$%(!H%4#$7$!%#0%0!J(K30'!F80!:%#$!NH%9!RWS!D#&P%0 b#0%4!8K!a8<%!;b8a?L
̀#%!B8K$:39%!3<(#&%8!#4$!<34!@9%(#=(O98<=A$!<%9!I9G2#(%<80!B8K$:39%!v!a804=&$#0' U(H¥!˜!a8L!-U!nIBaoW!%#0%(!-DJ!(#$!<%97%#$!RZ!D#$39H%#$%90W!<34!3=K!<#%!E0$:#GA5
&=0'!F80!g3F3!B8K$:39%!4O%7#3#%9$!#4$L!̀#%!j#9(3!(#$!¥3=O$4#$7!#0!D#0<%0!;rcC?!=05
$%92)&$!4%#$!YTRT!%#0%!i:%#'4$%&&%!#0!q403H9NGA!;r̀B?L!I9G2#(%<80!39H%#$%$!%0'!(#$!<%9
¥8G24G2=&%!q403H9NGA!7=43((%0L!̀#%!j#9(3!&%'$!48:82&!H%#!<%9!B8K$:39%%0$:#GA&=0'
3&4!3=G2!#0!30<%9%0!U%4G2)K$4O987%44%0!'98,%0!C%9$!3=K!4^4$%(3$#4G2%4!=0<!4$9=A$=9#%95
$%4!689'%2%0!=0<!:#%<%928&H39%!@987%44%L!̀#%4!7%#'$!4#G2!H%#4O#%&4:%#4%!<39#0W!<344!I95 G2#(%<80!1Bq5̲TTRmYTTZ!7%9$#K#7#%9$!#4$!=0<!3=44G2&#%,&#G2!3=K!E0$:#GA&%9!(#$!¥8G25 4G2=&3H4G2&=44!#0!<%9!10K89(3$#A!4%$7$L!V%#!<%9!B8K$:39%%0$:#GA&=0'!23$!I9G2#(%<80 F80!I0K30'!30!&30'K9#4$#'!'%O&30$L!I=4'%2%0<!F80!%#0%(!b%H%047^A&=4!<%9!B8K$:39%!3<5 (#&%8!F80!RS5YT!g329%0!4#0<!4G280!#0!<%9!̀%4#'0O234%!E0$4G2%#<=0'%0!KN9!%#0%!(.'5
&#G24$!%#0K3G2%!E9:%#$%9H39A%#$W!%#0%!282%!C39$H39A%#$!=0<!C#%<%9F%9:%0<H39A%#$!48:#%
%#0%!H%4$(.'&#G2%![=3&#$)$!'%$98KK%0!:89<%0L!¥#%97=!7)2&%0!F89!3&&%(!<#%!D8<=&39#4#%5 9=0'!=0<!<#%!A8(O80%0$%0H34#%9$%!B8K$:39%%0$:#GA&=0'L!jN9!%#0%!03G223&$#'%!B#G2%95 4$%&&=0'!<#%4%9!i#%&%W!KN29$!<#%!j#9(3!9%'%&(),#'!@98P%A$%!7=9!I03&^4%!=0<!7=9!6%9H%44%5 9=0'!<%9!%#0'%4%$7$%0!@987%44%!<=9G2!=0<!%F3&=#%9$!0%=%!"%G20#A%0!=0<!"%G208&8'#%0L V%9%#$4!H%#(!B$39$!<%9!r%=%0$:#GA&=0'!&3'!%#0!:#G2$#'%4!I='%0(%9A!3=K!<%9!E9:%#$%95 H39A%#$!<%9!B8K$:39%L!̀34!30K)0'&#G2!08G2!A&%#0%!"%3(!F80!E0$:#GA&%90!K8&'$!%#0%(!<%5 K#0#%9$%0!B8K$:39%5E0$:#GA&=0'4O987%44L!"%G20#4G2!:=9<%!4#G2!48K89$!KN9!%#0%!D8<=&5 H7:L!-8(O80%0$%04$9=A$=9!%0$4G2#%<%0W!<#%!%#0%!(.'&#G24$!=03H2)0'#'%!E0$:#GA&=0' :%#$%9%9!D8<=&%!%9(.'&#G2$L!U9=0<&3'%!<3KN9!#4$!%#0%!@84$'9%45̀3$%0H30AW!3=K!<#%!%#0%
(#$!g@I!F%9'&%#G2H39%!@%94#4$%074G2#G2$!7=9!6%9%#02%#$&#G2=0'!<%9!̀3$%0H30A0=$7=0' '%&%'$!:=9<%L!
jN9!0%=%!D8<=&%!:%9<%0!7=0)G24$!BO%7#K#A3$#80%0!#0!j89(!F80!b34$%02%K$%0!'%4G29#%5 H%0L!̀#%4%!@98$8$^O%0!<#%0%0!3=G2!7=9!I03&^4%!=0<!7=9!I=4:32&!F80!b.4=0'4F39#30$%0L
̀34!7%0$93&%!̀3$%0(8<%&&!#4$!48!<8A=(%0$#%9$W!<344!IH2)0'#'A%#$%0!7:#4G2%0!D8<=&%0 4G20%&&!%9A%00H39!4#0<L
680!V%'#00!30!4O#%&$%!<#%![=3&#$)$44#G2%9=0'!<%4!@98<=A$%4!%#0%!:#G2$#'%!c8&&%L!E4!:=95
<%!<39NH%9!2#03=4!F80!V%'#00!30!<34!i#%&!F%9K8&'$W!4)($&#G2%!BG29#$$%!#(!B8K$:39%5E0$5 :#GA&=0'4O987%44!F80!<%9!I0K89<%9=0'4303&^4%!H#4!2#0!7=9![=3&#$)$44#G2%9=0'!(.'&#G24$
F8&&4$)0<#'!7=!3=$8(3$#4#%9%0L!B8!:=9<%!3=4!<%9!I0K89<%9=0'4<%K#0#$#80!2%93=4!P%<%!l05
<%9=0'!=0<!r%=%0$:#GA&=0'!<%4!B^4$%(4!NH%9!%#0!:89AK&8:H34#%9$%4!I=K'3H%04$%=%5 9=0'4(303'%(%0$!<=9G2'%KN29$W!:34!%#0%!4%29!<%$3#&&#%9$%!6%94#804O&30=0'!48:#%!%#0!%K5 K#7#%0$%4 ! @98P%A$5a80$98&�' ! %9(.'&#G2$%L ! ̀#% ! I=$8(3$#4#%9=0' ! F80 ! qH%9K&)G2%0$%4$4 :=9<%!7:39!7=!V%'#00!<%9!@98<=A$%0$:#GA&=0'!%F3&=#%9$W!P%<8G2!3=K!U9=0<!<%9!(30'%&05
<%0!C%9A7%='=0$%94$N$7=0'!7=0)G24$!:#%<%9!2#0$%0!30'%4$%&&$L!I=4!<#%4%(!U9=0<!3A7%O5
$#%9$%0!<#%!E0$:#GA&%9!<#%!282%!@98<=A$F%930$:89$=0'W!j%2&%9!<=9G2!#0<#F#<=%&&%!E0$5 :#GA&%9$%4$4!7=!K#0<%0L
B8!:=9<%0!KN9!<#%!K9N2%0t%94$%0!6%94#80%0!#0$%04#F!(30=%&&%!"%4$4!<=9G2'%KN29$W!<#%!<34 '%43($%!i=43((%04O#%&!#0!3<(#&%8!3&4!10$%'93$#8045!=0<!B^4$%($%4$!<=9G2!(%29%9%!@%95 480%0W!(%#4$!E0$:#GA&%9W!H%$93G2$%0L!̀#%4%!"%4$4!4#0<!#0!̀8A=(%0$%0!4O%7#K#7#%9$W!48
<344!4#%!P%<%97%#$!03G2F8&&78'%0!:%9<%0!A.00%0L!U9=0<43$7!2#%9H%#!#4$!<34!|6#%95I='%05
@9#07#O{W!03G2!<%(!P%<%9!"%4$K3&&!%#0(3&!<=9G2!<%0!H%$%#&#'$%0!E0$:#GA&%9!=0<!304G2&#%5 ,%0<!<=9G2!%#0%0!:%#$%9%0!D#$39H%#$%9!'%$%4$%$!:#9<L
1(!b3=K%!<%9!E0$:#GA&=0'!H%0.$#'$%!<#%4%9!(30=%&&%!"%4$O987%44!#((%9!(%29!i%#$W!<3 A804%d=%0$!0#G2$!0=9!0%=%!D8<=&%W!480<%90!3=G2!3&$%!D8<=&%!(#$'%$%4$%$!:=9<%0W!=(
<34!E#04#GA%90!F80!10A804#4$%07%0!#0!<#%!B8K$:39%!7=!F%9(%#<%0L!!I&4!7:%#$%!qO$#(#%5
9=0'4(.'&#G2A%#$!:=9<%!<%9!9%&3$#F!4$399%!c%&%34%5i^A&=4!'%4%2%0W!<%9!<#%!4G29#$$:%#4%
E#0KN29=0'!0%=%9!j=0A$#803&#$)$!%94G2:%9$%L
̀#%4!KN29$%!7=9!4$93$%'#4G2%0!J0$%90%2(%04%0$4G2%#<=0'W!<%0!@987%44!!<%9![=3&#$)$44#5 G2%9=0' ! #( ! c32(%0 ! %#0%4 ! a80$#0=8=4 ! 10$%'93$#80 ! @987%44%4 ! 7= ! 3=$8(3$#4#%9%0L ! I=4 B#G2$ ! <%9 ! &30'K9#4$#'%0 ! C39$5 ! =0< ! E9:%#$%9H39A%#$ ! 48&&$%0 ! 0%=% ! B8K$:39%56%94#80%0 4G20%&&!%94$%&&$!=0<!(.'&#G24$!F8&&3=$8(3$#4G2!'%$%4$%$!:%9<%0L!̀3H%#!&#%'$!<%9!j8A=4!7=5 0)G24$!3=K!<%0!'%0300$%0!(30=%&&!3=4'%KN29$%0!10$%'93$#8045!=0<!B^4$%($%4$4L
HVH$E!:!.$U,<5.)G!00
IHH#&<=0'!Ym!V=#&<5@987%44!(#$!#0$%'9#%9$%9![=3&#$)$44#G2%9=0'!n¥-RYo
̀34!#0!IHH#&<=0'!Y!'%7%#'$%!BG23=H#&<!'#H$!%#0%0!pH%9H&#GA!NH%9!<%0!3=$8(3$#4#%9$%0 a80$#0=8=4510$%'93$#805@987%44!F80!<%9!10$%'93$#80!%#0%9!B8K$:39%)0<%9=0'!H#4!2#0!7=9 3=$8(3$#4#%9$%0![=3&#$)$44#G2%9=0'L!̀#%!:%4%0$&#G2%0!BG29#$$%!<%4!@987%44%4!4#0<m
X:"#@m!D#$!¥#&K%!<%4!C%9A7%='4!g%0A#04!:#9<!2#%9!3=K!%#0!E9%#'0#4!'%:39$%$W!:%&G2%4
%#0%0 ! A8(O&%$$%0 ! 10$%'93$#804&3=K ! 4$39$%$ ! ;NH&#G2%9:%#4% ! <34 ! E#0G2%GA%0 ! F80 [=%&&G8<% ! 8<%9 ! <#% ! (30=%&&% ! I=4KN29=0'?L ! EH%0K3&&4 ! NH%90#(($ ! g%0A#04 ! <#%
B$%=%9=0'!<%4!V=#&<5689'30'4W!#0<%(!%4!NH%9!%#0!I=4G2%GA%0!<%4![=%&&G8<%4 3=4!B=HF%94#80!<#%!KN9!<#%!&3=KK)2#'%!B8K$:39%!H%0.$#'$%0!I9$%K3A$%!<=9G2!I0$5 BA9#O$%!%97%='$L
;("*< !0*m!̀#%!3=4KN29H39%!B8K$:39%!:#9<!0=0!(#$$%&4!gJ0#$!<%0!J0#$5!=0<!10$%'93$#5 804$%4$4!=0$%978'%0L!I0$!NH%90#(($!<3H%#!3=G2!2#%9!:#%<%9!<#%!I=4KN29=0'L!D#$5
$%&4!%#0'%H=0<%0%(!g3a8a8!:#9<!7%#$'&%#G2!<#%!"%4$NH%9<%GA=0'!O98$8A8&&#%9$L I&4!E9'%H0#44%!<#%4%4!BG29#$$%4!:%9<%0!gJ0#$5"%4$%9'%H0#44%!=0<!<#%!D%44<3$%0
<%9!"%4$NH%9<%GA=0'!3H'%4O%#G2%9$L!
L;%< !0*0m!1(!0)G24$%0!BG29#$$!:#9<!<34!C%9A7%='![j5"%4$!%#0'%4%$7$W!=(!<#%!V%5 0=$7%98H%9K&)G2%05"%4$4!<=9G27=KN29%0L!J(!4#G2%97=4$%&&%0W!<344!H%#!4)($&#G2%0
"%4$4!<#%!'&%#G2%!I=4'30'44#$=3$#80!F89&#%'$W!:%9<%0!<#%4%!"%4$4!3=K!F#9$=3#%95
$%0!c%G20%90!3=4'%KN29$W!3=K!<%0%0!%#0%!g%0A#045104$307!#(!B&3F%5V%$9#%H!!&)=K$L I=G2!2#%9!:%9<%0!:#%<%9!<#%!"%4$%9'%H0#44%!=0<!<#%!D%44<3$%0!<%9!"%4$NH%9<%5 GA=0'!O98$8A8&&#%9$L
,)(3.<;(*!.0:12:(6m!̀#%4%9!IH&3=K4G29#$$!H%4$%2$!#(!C%4%0$&#G2%0!3=4!7:%#!6895 ')0'%0m!i=(!%#0%0!:#9<!<%9!'%43($%![=%&&G8<%!<%4!@98<=A$%4!%#0%9!4$3$#4G2%0 a8<%303&^4%!(#$!@D̀!=0<!a2%GA4$^&%!=0$%978'%0L!i=(!30<%9%0!:%9<%0!<#%!E95 '%H0#44%!<#%4%9!I03&^4%!(#$!<%0!7=F89!'%43((%&$%0!"%4$%9'%H0#44%0!=0<!pH%95
<%GA=0'4<3$%0!A8(H#0#%9$!#0!<%9![=3&#$)$4(303'%(%0$5@&3$$K89(!B8039!3H'%4O%#5 G2%9$L!
%(*!6.3*")(00'0*!7!m!B#0<!4)($&#G2%!BG29#$$%!%9K8&'9%#G2!3H'%&3=K%0W!:%9<%0!<#%!485 '%0300$%0!10$%'93$#8044^4$%(%!%97%='$W!:%&G2%!(#$!&3=KK)2#'%0!̀%(85̀3$%0!'%5 KN&&$!:%9<%0W!=(!4$)0<#'!<#%!3A$=%&&%!B8K$:39%!O9)4%0$#%9%0!=0<!<%0!(8(%0$30%0 E0$:#GA&=0'44$30<!03G2F8&&7#%2%0!7=!A.00%0L
jN9!P%<%0!%#07%&0%0!BG29#$$!#(!V=#&<5689'30'!'#&$m!BG2%#$%9$!<%9!%0$4O9%G2%0<%!689'30'W H9#G2$!<%9!@987%44!30!<#%4%9!B$%&&%!(#$!%#0%9!V%03G29#G2$#'=0'!30!<#%!F%930$:89$&#G2%;0?
@%9480;%0?!3HL!̀3(#$!:#9<!'%:)29&%#4$%$W!<344!3=K!<#%!10$%'93$#80!%#0%9!B8K$:39%5l0<%5 9=0'!4G20%&&4$(.'&#G2!%#0%!cNGA(%&<=0'!3=4!<%(!a80$#0=8=4510$%'93$#805B^4$%(!<395 NH%9!%9K8&'$W!:%&G2%!0%'3$#F%0!:#%!O84#$#F%0!I=4:#9A=0'%0!<#%!48%H%0!'%$)$#'$%!l0<%5 9=0'!3=K!<34!@98<=A$!23$L
HV]$S3G"*$@!.$5.)G!003(-300:(6
i=9!9%#0!$%G20#4G2%0!J(4%$7=0'!<%4!10$%'93$#8045!=0<!"%4$O987%44%4!&)44$!#4$!K%4$7=4$%&5
&%0W!<344!<#%4%!4%29!9%#H=0'4&84!#(O&%(%0$#%9$!:%9<%0!A800$%!=0<!4#G2!032$&84!#0!<%0 H#42%9#'%0!E0$:#GA&=0'4O987%44!%#0KN'$L!B)($&#G2%!2#%9!F%9:%0<%$%0!"88&4!4#0<!48!3=45 '%9%#K$!=0<!4$3H#&W!<344!4#%!#0!<%9!3&&$)'&#G2%0!6%9:%0<=0'!A%#0%!0%00%04:%9$%0!@98H&%5 (%!H%9%#$%0L!̀%9!V%$9#%H!%#0%4!48&G2%0!a80$#0=8=4!10$%'93$#805!=0<!"%4$#0'5B^4$%(4 H9#0'$!%#0%0!C39$=0'43=K:30<!F80!:%0#'%0!D3004$=0<%0!O98!D803$!(#$!4#G2W!<%(!4$%5 2%0!F#%&%!689$%#&%!'%'%0NH%9W!<#%!%#0%!48&G2%!J('%H=0'!F8&&3=$8(3$#4G2!(#$!4#G2!H9#0'$L 104H%480<%9%!4#0<!2#%9!7=!0%00%0m
B$)0<#'%!6%9KN'H39A%#$!F80!3=4KN29H39%0!"%4$4^4$%(%0!KN9!(30=%&&%!"%4$4!485 :#%!@98<=A$O9)4%0$3$#80%0
I=4KN29=0'!3&&%9!3=$8(3$#4#%9$%0!"%4$4!820%!V%0=$7%9%#0'9#KK
c#4#A8(#0#(#%9=0'!KN9!<%0!c%&%34%:%G24%&!H%#(!-=0<%0!;<#%4%9!:#9<!(#$!P%5
<%(!V=#&<5BG29#$$!(#$'%$%4$%$?
̀#%!:%4%0$&#G2%!¥%93=4K89<%9=0'!H%#!<%9!J(4%$7=0'!<%4!@987%44%4!&#%'$!<32%9!:%0#'%9
#0!<%9!$%G20#4G2%0!1(O&%(%0$#%9=0'!<%9!C%9A7%='%!=0<!6%9K329%0W!480<%90!F#%&(%29!#0
<%9!10$%'93$#80!<%9!"%4$3=$8(3$#4#%9=0'!#0!<%0!E0$:#GA&=0'4O987%44L!̀3(#$!%#0!A80$#0=5
#%9&#G2%9!"%4$O987%44!4%#0%!6897N'%!F8&&!%0$K3&$%0!A300W!#4$!%4!=03H<#0'H39W!<#%!J(4$%&5
&=0'!F80!(30=%&&%0!3=K!3=$8(3$#4G2%!"%4$4!(.'&#G24$!:%#$9%#G2%0<!<=9G27=KN29%0L!¥#%95
H%#!23$!%4!4#G2!3&4!E9K8&'4K3A$89!2%93=4A9#4$3&#%9$W!<#%!$%G20#4G2%!6%930$:89$=0'!KN9!<34
"%4$:%9A7%='!30!%#0%!<%K#0#%9$%!B$%&&%!7=!'%H%0L!U9=0<!<3KN9!#4$W!<344!<%9!I=K:30<W!%#0 '%43($%4!E0$:#GA&=0'4$%3(!#0!4)($&#G2%!"#%K%0!%#0%4!"%4$:%9A7%='4!:#%![j"%4$!%#07=5 39H%#$%0W!4%29!28G2!#4$L!̀39NH%9!2#03=4!H#%$%$![j"%4$!<#%!D.'&#G2A%#$W!"%4$K)&&%!<32#0'%5 2%0<!7=!4$9=A$=9#%9%0W!<344!4)($&#G2%!V%0=$7%9#0$%93A$#80%0!(#$!<%(!7=!$%4$%0<%0!B^45
$%(!#0!V#H$2%A%0!3&4!E#07%&K=0A$#80%0!2#0$%9&%'H39!4#0<W!=0<!8O$#(3&%9!C%#4%!#0!<%0
"%4$K)&&%0!4%&H4$!<#%4%!0=9!08G2!30%#030<%9'%9%#2$!:%9<%0!(N44%0L!̀39NH%9!2#03=4!23$
%#0%!$%3(NH%9'9%#K%0<%!B$9=A$=9!<#%4%9!V#H$2%A%0!=0<!3=G2!<%9!"%4$K)&&%!4%&H4$!<%0 '&%#G2%0!EKK%A$!<%9!C#%<%9F%9:%0<=0'4(.'&#G2A%#$!F80!H%9%#$4!#(O&%(%0$#%9$%0!D%$285
<%0!:#%!H%9%#$4!3=4!<%9!B8K$:39%5E0$:#GA&=0'!4%&H4$!H%A300$L!
]$T!00)(0$T!3.(!@
̀#%!-3O#$%&!K344$W!(8$#F#%9$!F80!<%0!E9'%H0#44%0!<%4!F892%9#'%0!-3O#$%&4W!:%4%0$&#G2%
E9K8&'4K3A$89%0!KN9!%#0!&30'K9#4$#'!:39$5!=0<!%9:%#$%9H39%4!@98P%A$!(#$!<%(!j8A=4!3=K!<#%
[B!7=43((%0L!10!<#%!E9'%H0#44%!K&#%,%0!-%00$0#44%!3=4!:%#$%9%0!@98P%A$%0!%#0W!<#%!#(
V%9%#G2![B!=0<!B8K$:39%5E0'#0%%9#0'!8K$!3&4!IH4G2&=4439H%#$%0!H%#!:%#$%9%0!J0$%90%25 (%0W!(%#4$!-DJW!<=9G2'%KN29$!:=9<%0L
]VF$ !0*3.12"*!C*:.
̀%9!¥3=O$A9#$#AO=0A$!30!%#0%9!"%4$3=$8(3$#4#%9=0'!#4$W!<344!<#%!%0$4$30<%0%0!"%4$4!4%29 '=$!7=(!3A$=%&&!'%$%4$%$%0!B^4$%(!O344%0W!3&&%9<#0'4!(#$!<%9!C%#$%9%0$:#GA&=0'!<%4!B^45
$%(4!#((%9!:%9$&84%9!:%9<%0L!!̀#%!J943G2%0!4#0<!(%#4$W!<344!<#%!I0O344=0'!<%9!"%4$4 3&4!7=!3=K:)0<#'!30'%4%2%0!:#9<!=0<!<344!0%=%!"%4$%9!<#%!E#039H%#$=0'!#0!<#%!A8(O&%f%
"%4$%0$:#GA&=0'!4G2%=%0L
̀#%!%&%(%0$39%!b.4=0'!2#%9!#4$!<#%!D8<=&39#4#%9=0'!F80!"%4$4W!<#%!7=(!4^4$%(3$#4G2%0 I=KH3=!%#0%9!"%4$39G2#$%A$=9!KN29%0L!!̀#%4!&)44$!4#G2!&%#G2$!30230<!F80!"%4$4!%#0%9!qH%95 K&)G2%!F%9304G23=&#G2%0W!<3!'%93<%!qH%9K&)G2%0!8K$!'%)0<%9$!:%9<%0L!10!%#0%(!4G2&%G25
$%0!"%4$4^4$%(!:#9<!#0!P%<%(!"%4$!<#9%A$!P%<%9!D3=4A&#GA!3=K!H%4$#(($%!-0.OK%!=0<
P%<%!I=4'3H%!#0!H%4$#(($%0!j%&<%90!3=4O98'93((#%9$L!C%4%0$&#G2!43=H%9%9!:%9<%0!<#%
"%4$4W!:%00!7=0)G24$!%#0%!V34#4K=0A$#803&#$)$!3=K'%H3=$!:#9<W!#0!<%9!#0!A&%#0%0!D%$285
<%0!%#07%&0%!E&%(%0$%!<%9!qH%9K&)G2%!H%<#%0$!8<%9!3=4'%&%4%0!:%9<%0L!j#0<%$!<300!0=9
%#0%!J('%4$3&$=0'!<%9!qH%9K&)G2%!4$3$$W!4#0<!8K$!0=9!<#%4%!%&%(%0$39%0!D%$28<%0!7=!F%95 )0<%90W!<3!KN9!<#%!0=$7%0<%0!"%4$4!0=9!:#G2$#'!#4$W!<344!NH%923=O$!<#%4%!j=0A$#803&#$)$
'%0=$7$!:#9<L!10!n-&%RMo!H%K#0<%$!4#G2!<37=!%#0!V%#4O#%&W!H%#!<%(!KN9!%#0%!g3F35B:#0'5q5 H%9K&)G2% !%#0!032$&84%9!C%G24%&!F80!%#0%( !"%4$5j93(%:89AW !<34 !B:#0'!<#9%A$ !0=$7$
;jEB"W!j#f$=9%4!K89!E34^!B8K$:39%!"%4$#0'!nhj%4o?!7=!%#0%9!"%4$5V#H$2%AW!<#%!H%&#%5 H#'%!qH%9K&)G2%0!4$%=%9$!;B#A=&#!g3F3!I@1!nhB#Ao?!KN9!%#0%!A&%#0%!j3&&4$=<#%!'%7%#'$
:#9<L!̀=9G2!J0$%94G2#%<%!#0!<%9!30'%H8$%0%0!j=0A$#803&#$)$!A300!48!%#0!032$&84%9!pH%95 '30'!0#G2$!#((%9!F8&&4$)0<#'!'3930$#%9$!:%9<%0L
E#0%!"%4$39G2#$%A$=9!#4$!<3(#$!%#0!7%0$93&%4!D#$$%&W!K&%f#H%&!3=K!l0<%9=0'%0!#(!7=!$%4$%05
<%0!B^4$%(!8<%9!3=K!0%=%!D.'&#G2A%#$%0!7=!9%3'#%9%0L!̀#%!"%4$39G2#$%A$=9!4O#%'%&$!8K$!#0
F%9%#0K3G2$%9!j89(!<#%!B8K$:39%5I9G2#$%A$=9!:#%<%9W!<3!48!<#%!"%4$4!<%9!%#07%&0%0!V3=5 4$%#0%!=0<!<#%!10$%'93$#804$%4$4!#0!03$N9&#G2%9!C%#4%!4$9=A$=9#%9$!:%9<%0L!E$:3#'%!D)0'%&
<%9!B8K$:39%5I9G2#$%A$=9!:%9<%0!<3H%#!(#$$%&K9#4$#'!3=G2!4#G2$H39L!̀#%4!:=9<%!#0!%#0%9 30<%9%0!B$=<#%!nC#$RMo!KN9!%#0%!A8((%97#%&&%!C%H5B8K$:39%!<%=$&#G2W!<%9%0!qH%9K&)G2%
03G2!'=$!KN0K!g329%0!0%=!'%4$3&$%$!:%9<%0!48&&$%L!̀#%!=94O9N0'&#G2%!qH%9K&)G2%!:=9<%
(#$!gBj!RLR!%0$:#GA%&$W!%#0%9!9%&3$#F!K9N2%0!6%94#80W!<#%!9%G2$!:%0#'!'93O2#4G2%!D.'5
&#G2A%#$%0!(#$H9#0'$!=0<!(#$!<%9!<#%!E0$:#GA&=0'!9%G2$!3=K:)0<#'!#4$L!̀#%4!'#&$!#04H%4805
<%9%W!:%00!(30!4#G2!3A$=%&&%!qH%9K&)G2%05"%G208&8'#%0!=0<!j93(%:89A4!304#%2$L!gBj H34#%9$!3=K!%#0%9!D8<%&56#%:5a80$98&&%9!639#30$%W!<#%!%#0%!%94$%!B$9=A$=9#%9=0'!H%#!<%9 I9G2#$%A$=9!F89'#H$L!̀#%4%9!I043$7W!7=43((%0!(#$!%#0%(!43=H%9!3=K'%H3=$%0!K3G2&#G2%0 D8<%&&!=0<!<%9!7='%2.9#'%0!̀3$%023&$=0'W!:39!U9=0<&3'%!<%4!=94O9N0'&#G2%0!B^4$%(4L
̀%9!I9G2#$%A$=93043$7!:39!KN9!<34!H#42%9#'%!@98P%A$!%9K8&'9%#G2W!:34!4#G2!<3<=9G2!7%#'$%W
<344!<#%!:3G24%0<%!B8K$:39%!:39$5!=0<!%9:%#$%9H39!H&#%HL!̀=9G2!<#%!j89<%9=0'!03G2!%#5 0%9 !0%=%0!qH%9K&)G2%05"%G208&8'#% !(=44$% !<#%4% !V%:%9$=0' !&%#G2$!9%F#<#%9$ !:%9<%0L 689=0$%94=G2=0'%0!7%#'$%0W!<344!%4!%#0%!6#%&K3&$!F80!I&$%903$#F%0!'#H$W!F80!<%0%0!7:%#
(#$ ! @98$8$^O%0 ! '%03=%9 ! F%9K8&'$ ! :=9<%0L ! ̀#% ! E9'%H0#44% ! 7%#'%0W ! <344 ! '%0%9%&& ! 0%=%
"%G208&8'#%0!0=$7H39!4#0<W!3&&%9<#0'4!%#0%!%#0K3G2%!IH$9%00=0'!8H%923&H!<%9!D8<%&5 BG2#G2$!0#G2$!F8&&4$)0<#'!(.'&#G2!:39L!!1(!A80A9%$%0!j3&&!#4$!<%9!J94O9=0'!<%4!@98H&%(4
%#0%!-&344%!j3G%4a80$%f$!3=4!gBjW!<#%!4%29!()G2$#'%!D.'&#G2A%#$%0!H#%$%$W!#0!<#%!'%43(5
$%!gBj5B$%=%9=0'!%#07='9%#K%0L!gBj!H34#%9$!'%0%9%&&!3=K!B%9F&%$4W!:8H%#!<#%4!0=9!4%&$%0 H%#!<%9!E0$:#GA&=0'!7=!H%3G2$%0!#4$L!B=G2$!(30!3&&%9<#0'4!03G2!4G20%&&%0!=0<!%KK#7#%0$%0 b.4=0'%0W!:#9<!8K$!<#%!j3G%4a80$%f$5-&344%!'%0=$7$W!<3!(30!NH%9!4#%!3=K!3&&%!̀%$3#&4!<%9 B%9F&%$5r=$7=0'!7='9%#K%0!=0<!<%0!'%43($%0!6%939H%#$=0'4O987%44!(8<#K#7#%9%0!A300L
̀3!#0!30<%9%0!I04)$7%0!%#0%!48&G2%!-&344%!0#G2$!F89230<%0!#4$W!(=44!<#%!'%43($%!B8K$5 :39%!=0<!<3(#$!3=G2!<#%!7='%2.9#'%0!"%4$4!=('%H3=$!:%9<%0L!!̀3!K34$!P%<%4!j93(%:89A 48&G2%!H%480<%9%0!D.'&#G2A%#$%0!7L!VL!3=G2!H%#!<%9!6%9A0NOK=0'!<%9!qH%9K&)G2%!(#$
B$%=%9=0'4%&%(%0$%0!!:#%!EF%0$5!=0<!@98O%9$^b#4$%0%90!H#%$%$W!(=44!%#0%!O8$%07#%&&!3H5
$9%00H39%!BG2#G2$!:%#$%9!'%A3O4%&$!:%9<%0L!
E#0!48&G2%9!I9G2#$%A$=93043$7!:#9<!7L!VL!(#$!<%(!D8<%&56#%:56#%:D8<%&5I043$7!F%95 K8&'$W !<%9 !U9=0<&3'% !<%4 ! yIDb5qH%9K&)G2%03043$7%4 ! (#$ ! <%9! C#0<8:4 ! @9%4%0$3$#80 j8=0<3$#80!!n¥=HRTo!F80!D#G9848K$!#4$W!<%9!3H%9!3=G2!3=K!30<%9%!I04)$7%!NH%9$93'H39!#4$L
̀34!6#%:D8<%&!4$%&&$!<#%!10K89(3$#80%0!KN9!<#%!I07%#'%!H%9%#$!=0<!NH%90#(($!<#%!6%95 A0NOK=0'!<%9!B$%=%9=0'4%&%(%0$%!<%9!qH%9K&)G2%!(#$!<%9!B8K$:39%L!I=K!3H4$93A$%9!EH%5 0%!'#H$!%4!<3(#$!%#0%0!&%#G2$!:#%<%9F%9:%0<H39%0!I0$%#&!<%9!10K89(3$#804H%9%#$4$%&&=0'
=0<!%#0%0!#0<#F#<=%&&%0!I0$%#&!7=9!J(4%$7=0'!<%4!-8((=0#A3$#804(%G230#4(=4L!V%#
%#0%(!I=4$3=4G2!<%9!qH%9K&)G2%0!(=44!0=9!<#%4%9!#0<#F#<=%&&%!"%#&!'%)0<%9$!:%9<%0W :34!4#G2!3=G2!=0(#$$%&H39!3=K!<#%!"%4$%94$%&&=0'!3=4:#9A$L!B#0<!<#%!"%4$4!(8<=&39!3=K'%5 H3=$W!A.00%0!4#%!(#$!9%&3$#F!:%0#'!I=K:30<!30!<#%!0%=%!B8K$:39%5I9G2#$%A$=9!30'%O344$
:%9<%0L!̀#%4!(3G2$!<%0!i=43((%0230'!7:#4G2%0!'=$%9!B8K$:39%5!=0<!'=$%9!"%4$39G2#5
$%A$=9!=0(#$$%&H39!<%=$&#G2L!!̀%9!'%0%9%&&%!I=KH3=!%#0%4!B^4$%(4!#4$!#0!IHH#&<=0'!M!4A#75 7#%9$L
jN9!-8(O80%0$%0W!<#%!0#G2$!%0'!#0!<%9!I9G2#$%A$=9!F%90%$7$!4#0<W!:#%!7L!VL!qH%9K&)G2%0W H#%$%$!4#G2!<300!%#0%!BG2#G2$!(#$!C%HB%9F#G%4!30W!NH%9!<#%!<#%!qH%9K&)G2%0!<#%!H%0.$#'5
$%0!̀3$%0!3H9=K%0!A.00%0L!̀#%4%9!I043$7!F%9&30'43($!%F%0$=%&&!<#%!J(4%$7=0'!H%#!<%9 r=$7=0'!4O%7#%&&%9!j93(%:89A4W!:8H%#!<300!#0<#F#<=%&&!7=!A&)9%0!#4$W!8H!<#%4!I=4:#95
A=0'%0!3=K!<#%!r=$7H39A%#$!23$L!B$=<#%0!KN9!A8((%97#%&&%!@98<=A$%!23H%0!'%7%#'$W!<344
<=9G2!<#%!r=$7=0'!F80!C%HB%9F#G%4!nV=9RXonhcEBo!H34#%9%0<!3=K!gBqr!%#0%!"9%05 0=0'!7:#4G2%0!a&#%0$!=0<!B%9F%9!A%#0%0!EKK%A$!KN9!<%0!E0<0=$7%9!23H%0!(=44!n-&8RMoL
̀3!<=9G2!C%HB%9F#G%4!<#%!-8((=0#A3$#80!NH&#G2%9:%#4%!0=9!F8(!I=K9=K%9!7=(!I=K9=5 K%0<%0!'%2$W!(=44!H%#!V%<39K!<39NH%9!03G2'%<3G2$!:%9<%0W!:#%!%#0%!%G2$%!H#<#9%A$#803&%
-8((=0#A3$#80!2%9'%4$%&&$ !:%9<%0!A300L!B$=<#%0W!:#%!#0!ǹ#$RXo!7%#'%0W !<344!C%H5 B8GA%$4!nhC%Ho!%#0%0!4%29!F#%&F%94O9%G2%0<%0!I043$7!<394$%&&%0L
IHH#&<=0'!Mm!V34#439G2#$%A$=9!KN9!:39$5!=0<!%9:%#$%9H39%!B^4$%(%
I=4!B#G2$!<%9![=3&#$)$44#G2%9=0'!23H%0!<#%!pH%939H%#$=0'%0!<%9!H%$93G2$%$%0!B^4$%(%
3=G2!<%=$&#G2!'%(3G2$W!<344!%4!:#G2$#'!#4$W!<344!"%4$4W!#04H%480<%9%!IH032(%$%4$4!A&39 4O%7#K#7#%9$!4#0<W!<3!4#%!<#%!U9=0<&3'%!<%9!"%4$4!KN9!<34!0%=%!B^4$%(!H#&<%0L!10!<%0!A805 A9%$%0!j)&&%0!A8((%0!A&344#4G2%!"%4$4O%7#K#A3$#80%0!#0!"%f$5j89(!7=(!E#043$7L!!
]VH$ !0*).63("03*")($:(@$ !0*73(36!7!(*
q20%!<%0!E#043$7!4O%7#%&&%9!"%4$(303'%(%0$:%9A7%='%!:%9<%0!<#%!"%4$4!$^O#4G2%9:%#5 4%!#0!J0#$5$%4$H34#%9$%0!B^4$%(%0!9%G2$!%#0K3G2!'%89<0%$L!E#07%&0%!"%4$4!:%9<%0!-&344%0 8<%9!-8(O80%0$%0!7='%89<0%$W!<#%4%!%#07%&0%0!"%4$4!:%9<%0!<300!O98!-&344%W!-8(O85 0%0$%!8<%9!"%#&4^4$%(!7=!48'%0300$%0!"%4$5B=#$%4!7=43((%0'%K344$!n-&%RMoL!̀3H%#!A.05 0%0!"%4$5B=#$%4!:#%<%9!"%4$5B=#$%4!%0$23&$%0W!48!<344!%#0!2#%939G2#4G2%9!I=KH3=!<%9!"%4$5 89'30#43$#80!%0$4$%2$W!<%9!%0'!(#$!<%9!B8K$:39%5I9G2#$%A$=9!F%9A0NOK$!#4$L!U%0%9%&&!A300
%#0!"%4$!3=G2!#0!(%29%9%0!"%4$5B=#$%0!%0$23&$%0!4%#0W!48!<344!%9!'%'%H%0%0K3&&4!(%29K3G2 3=4'%KN29$!:#9<L!̀#%4%!B$9=A$=9#%9=0'4(.'&#G2A%#$!#4$!<300!4#00F8&&W!:%00!0#G2$!#((%9 3&&%!"%4$4!3=4'%KN29$!:%9<%0!48&&%0W!<3!(30!7L!VL!i%#$!4O39%0!(.G2$%L!
I9H%#$%$!(30!(#$!%#0%(!a80$#0=8=4!V=#&<!D303'%(%0$4^4$%(!n¥jRToW!<34!H%#(!r#'2$&^
V=#&<!3=G2!3&&%!"%4$4!3=4KN29$W!A300!%4!O344#%9%0W!<344!3=4!i%#$'9N0<%0!0#G2$!(%29!3&&%
"%4$4!3=4KN29H39!4#0<L!¥#%9!:)9%!%4!4#00F8&&W!"%4$4!(#$!D%$35̀3$%0!7=!F%94%2%0W!48!<344 (30!NH%9!j#&$%9A9#$%9#%0!#0<#F#<=%&&!%#0%!O344%0<%!"%4$5B=#$%!KN9!%#0%!r3G2$!8<%9!KN9!%#0%
H%4$#(($%!E0$:#GA&=0'4O234%!3=4:)2&%0!A300L!E#0!48&G2%4!B^4$%(!A300!7L!VL!NH%9!<#%
I03&^4% !H%4$#(($%9!4$9=A$=9#%9$%9!-8((%0$39%!#0!"%4$4!8<%9!<=9G2!I008$3$#80%0!<#%
O344%0<%0!"%4$4!3=4:)2&%0L!E#0!K9%#%4!B^4$%(W!<34!4#G2!&%#G2$!#0!V=#&<!D303'%(%0$4^45
$%(%!%#0H3=%0!&)44$W!K%2&$!3H%9L
]V]$E!:!$ !12()#)6"!(
̀#%!A80$#0=#%9&#G2%!C%#$%9%0$:#GA&=0'!#(!V%9%#G2!B8K$:39%!E0'#0%%9#0'!23$!=0(#$$%&H35 9%!I=4:#9A=0'%0!3=K!<#%!"%4$%0$:#GA&=0'L!E#0!A80A9%$%4!V%#4O#%&!4#0<!<#%!D.'&#G2A%#5
$%0W!<#%!#0!g3F3!<=9G2!à1!;a80$%f$4!30<!̀%O%0<%0G^!10P%G$#80!nhà1o?!9%&3$#F!0%=!KN9
<#%!E0$%9O9#4%!E<#$#80!;gEE?W!3H%9!3=G2!0=$7H39!#0!<%9!B$30<39<!!E<#$#80!;g3F3!BE?!2#07=5 '%A8((%0!4#0<L!à1!=(K344$!(%29%9%!D.'&#G2A%#$%0W!<#%!J(4%$7=0'!F80!j=0A$#803&#$)$
3&$%903$#F!7=!O98'93((#%9%0L!E#0!:#G2$#'%9!I043$7!#4$W!KN9!qHP%A$F39#3H&%0!0=9!BG20#$$5 4$%&&%0!7=!0=$7%0W!48!<344!<=9G2!F%94G2#%<%0%!1(O&%(%0$#%9=0'%0!<%9!BG20#$$4$%&&%0!<#%4%
&%#G2$!'%'%0%#030<%9!3=4'%$3=4G2$!:%9<%0!A.00%0L!1(!j3&&!F80!gEE!A300!<%9!=('%H%0<%
B%9F%9!<3KN9!F%930$:89$&#G2!4%#0W!<#%!O344%0<%!1(O&%(%0$#%9=0'!7=9!6%9KN'=0'!7=!4$%&5
&%0L!̀#%4!A300!#(!A80A9%$%0!j3&&!H%<%=$%0W!<344!<%9!@98'93((#%9%9!0=9!08G2!4O%7#K#5 7#%9$W!<344!%9!%#0%!$93043A$#803&%!̀3$%0H30AF%9H#0<=0'!23H%0!(.G2$%L
!"#$%&'
()*+,'% -%).*.'%#/0%)+*&% 123 444
(526*& +7*1 (%).*.'892$%&' 72$%&': ; 124(%).*.'872$%&':3
<
1(!:%#$%9%0!@98'93((!:#9<!<300!<#%!639#3H&%!<H!7L!VL!#0!<%9!D%$28<%!O%94#4$;?!%#0K3G2 '%0=$7$W!820%!<344!#29!%fO#$!%#0%0!C%9$!7='%:#%4%0!:=9<%L
à1!=0$%94$N$7$!:%#$%92#0!<#9%A$W!<344!(#$!¥#&K%!%#0%9!yDb5-80K#'=93$#804<3$%#!%#0K3G2 30'%'%H%0!:%9<%0!A300W!:%&G2%!A80A9%$%0!-&344%0!KN9!:%&G2%!BG20#$$4$%&&%0!'%0=$7$
:%9<%0!48&&%0L!!B8!:#9<!%4!7L!VL!4%29!%#0K3G2W!D8GA5qHP%A$%!7=!#0P#7#%9%0L!̀#%4!A300!H%#
<%9!E94$%&&=0'!F80!"%4$4!<%0!I=K:30<!H%#(!I=KH3=!%#0%4 !F8&&4$)0<#'%0!"%4$8HP%A$4
<%=$&#G2!%9&%#G2$%90!=0<!<#%!b%4H39A%#$!F80!"%4$4!%92.2%0L!
B$%2$!%#0!48&G2%9!I043$7!0%=!7=9!6%9KN'=0'W!(=44!A9#$#4G2!'%O9NK$!:%9<%0W!8H!%9!H%#!<%9 E94$%&&=0'!0%=%9!"%4$4!'%0=$7$!:#9<!=0<!:#%!(#$!%f#4$#%9%0<%0!"%4$4!=('%'30'%0!:%95
<%0!48&&L!D30!A300!%f#4$#%9%0<%!"%4$4!%#0K3G2!NH%90%2(%0W!<3!4#%!:%#$%9&3=K%0!48&&$%0W :34!#0!g3F3!K34$!#((%9!'3930$#%9$!#4$L!̀%(!:%4%0$&#G2%0!-9#$%9#=(!KN9!<#%!%#0K3G2%!pH%95 032(%W!<344!A%#0%!7=4)$7&#G2%!!I9H%#$!%0$4$%2$W!#4$!'%'%0NH%9!7=!4$%&&%0W!<344!<300!7:%#
F%94G2#%<%0%!-807%O$%!#0!<%0!"%4$4!'%0=$7$!:%9<%0L!̀#%4!A300!4#G2!(#$$%&K9#4$#'!H%#!<%9 C39$=0'!<%9!"%4$4!0%'3$#F!3=4:#9A%0W!<3!#((%9!H%#<%!-807%O$%!F80!<%0!V%39H%#$%90 F%94$30<%0!:%9<%0!(N44%0L
I&4!:%#$%9%0!I043$7!H#%$%$!à1!D.'&#G2A%#$%0!<%9!I4O%A$89#%0$#%9=0'L!̀#%4!H%#023&$%$W
<344!(30!K%4$&%'%0!A300W!<344!H%#!H%4$#(($%0!IA$#80%0!:#%!%#0%(!D%$28<%03=K9=K!7=5 4)$7&#G2%9!@98'93((G8<%!3=4'%KN29$!:%9<%0!48&&L!10!<%(!@98'93((G8<%!A300!<300!3=K
<#%!H%$%#&#'$%0!qHP%A$%!7='%'9#KK%0!=0<!#29%!10K89(3$#80%0!3=4'%:%9$%$!:%9<%0L!100%95 23&H!<%9!3=K'%9=K%0%0!j=0A$#803&#$)$!A300!H%#!à1!K%4$'%&%'$!:%9<%0W!8H!<#%!=0$%9H985 G2%0%!IA$#80!#0!<%9!=94O9N0'&#G2%0!j89(!3=4'%KN29$!8<%9!3H'%H98G2%0!:%9<%0!48&&L
!"#'%)&%('=5,6*>*%) ?? @%'A71%# 1*%.%) B6,..% 2%72,&A'%#
(526*& &6,.. C+%#'D7#.5E%) ; 444
<
!"#'%)&%('=5,6*>*%)
!"#'%)&%('7) ?? .7 ,##7'*%)'% B6,..% 2%72,&A'%' !"#'%)&%('=5,6*>*%) (526*& &6,.. @%*#"#'%)&%('7) ;
!F)75#1"#+7G% ?? @%'A71% H*)1 +7) $%1%) @%'A71% +7# C+%#'D7#.5E%) ?? ,5>I%)5>%#J K%',*6. L2%) -,),E%'%) ,2>),I2,) (526*& 92$%&' 67ID,668"#+7&,'*7#D7#'%N' &7#'%N':
'A)7H. CN&%('*7# ; 444
)%'5)# &7#'%N'4()7&%%18:3 ?? 5).()L#I6*&A% @%'A71% >7)'.%'/%#
IHH#&<=0'!Xm!I=K9=K!F80!"%4$4!(#$!r=$7=0'!F80!I4O%A$89#%0$#%9=0'
̀#%4%9!I043$7!H#%$%$ !'%93<% !3=4 !B#G2$!<%4!"%4$%04!3=K!-8(O80%0$%0%H%0%!4%29!'=$%
D.'&#G2A%#$%0W!!<3!"%4$4!%#0K3G2!<300!|&3=4G2%0<%{!D%$28<%0!:%9<%0W!<%9%0!I=K9=K!'%5 03=!<300!%9K8&'$W!:%00!<#%!7=!$%4$%0<%!9%3&%!IA$#80!3=K'%9=K%0!:#9<L!̀34!'%43($%!@985 '93((!:N9<%!<300!:#%<%9!#(!c32(%0! !089(3&%9!"%4$4!3=K'%9=K%0!:%9<%0W!:8H%#!KN9
<#%4%!34O%A$89#%0$#%9$%0!"%4$4!0#G2$!4#G2%9'%4$%&&$!#4$W!8H!H7:L!:300!#29!'%03=%9!I=K9=K
%9K8&'$L!̀3!(30!#0!<%0!34O%A$89#%0$#%9$%0!"%4$4!7L!VL!3=G2!#0!'&8H3&%0!-&344%0F39#3H&%0 '%23&$%0%!¥#&K4F39#3H&%0!7=(!i)2&%0!<%9!I0732&!<%9!I=K9=K%!%9')07%0!A300W!#4$!<#%4%
30<%9%!I9$!<%9!"%4$%94$%&&=0'!0=9!A804%d=%0$!(#$!<%9!A&344#4G2%0!"%4$%94$%&&=0'!7=!F%95 A0NOK%0L!̀#%!9%4=&$#%9%0<%!I=K9=K4$9=A$=9!!#4$!IHH#&<=0'!X!<39'%4$%&&$
à1!#4$!<3(#$!%#0!:%#$%9%9!V3=4$%#0W!<%9!H%#!<%9!"%4$O&30=0'W!:34!48&&!:300!:#%!'%$%4$%$
:%9<%0W!7=!H%3G2$%0!#4$L!I0'%(%9A$!4%#W!<344!<34!"2%(3!I4O%A$89#%0$#%9=0'!4G280!9%&35
$#F!&30'%!H%A300$!#4$!nb3<TMo!=0<!%4!3=G2!(%29%9%!'=$!0=$7H39%!j93(%:89A4!<37=!'#H$W
<#%!6%9H9%#$=0'!<%4!I043$7%4!3H%9!#((%9!'%9#0'!:39L!̀3!<=9G2!à1!<#%!I4O%A$89#%0$#%5 9=0'!%#0!:%#$%9%9!<#9%A$!7=!0=$7%0<%9!V3=4$%#0!<%9!E0$:#GA&=0'!:#9<W!4$%#'$!<3<=9G2!<#%
@8O=&39#$)$!<%4!I043$7%4!<%=$&#G2!30L
̀#%!K9%#%!D8GA5V#H$2%A!D8GA#$8!nhD8Go!H#%$%$!0%H%0!<%9!D8GA5E94$%&&=0'!KN9!08G2 0#G2$!9%3#%9$%!-&344%0!<#%!D.'&#G2A%#$W!%f#4$#%9%0<%!-&344%0!8<%9!%#07%&0%!D%$28<%0
<3F80!7=!(8GA%0L!̀#%4!H%<%=$%$W!<344!#0!<%9!&3=K%0<%0!B8K$:39%!%#0!D%$28<%03=K9=K!3H5 '%K30'%0!=0<!<=9G2!%#'%0%!j=0A$#803&#$)$!%94%$7$!:%9<%0!A300L!̀3!<#%!0#G2$!'%(8GA$%0
D%$28<%0!%923&$%0!H&%#H%0W!A300!48!%#0%!A80A9%$%!1(O&%(%0$#%9=0'!%#0K3G2!#0!%#0%0 D8GA!=('%:30<%&$!:%9<%0L!̀#%4!#4$!7L!VL!<300!4%29!0N$7&#G2W!:%00!(30!4#G2%94$%&&%0 :#&&W!<344!%#0%!H%4$#(($%!D%$28<%!KN9!A80A9%$%!@393(%$%9:%9$%!'3930$#%9$!%#0%!EfG%O$#5 80!:#9K$L!̀34!03G2K8&'%0<%!V%#4O#%&!7%#'$W!<344!<%9!A80A9%$%!I=K9=K!'%$;T?!KN9!%#0%!b#4$%
4$3$$!<%(!%#0'%$93'%0%0!C%9$!R!<%0!C%9$!XY!&#%K%9$L
(526*& .','*& +7*1 E,*#80')*#IOP ,)I.: ;
Q*.'R"#'%I%)S 6*.' T #%H Q*#G%1Q*.'R"#'%I%)S8:3 6*.'4,118U:3
Q*.'R"#'%I%)S .(V T @7&G*'74.(V86*.':3 @7&G*'7417W%'5)#8XY:4HA%#8.(V:4I%'8Z:3
0V.'%E475'4()*#'6#8.(V4I%'8Z: [¥ ]] ¥ [ .(V4.*/%8::3
<
̀#%!D.'&#G2A%#$%0!<%4!I043$7%4!4#0<!:#%<%9!:%#$9%#G2%0<!=0<!F%9:30<$!(#$!<%0!F892%9 '%0300$%0!D.'&#G2A%#$%0!<%9!34O%A$89#%0$#%9$%0!!"%4$4L!r%H%0!<%9!<#9%A$%0!r=$7=0'!<%4 I043$7%4!H%#!<%9!"%4$%94$%&&=0'W!%9'#H$!4#G2!:#%<%9!<#%!D.'&#G2A%#$W!"%4$4!#0!<#%!'%(8GA5
$%0!D%$28<%0!7=!#0$%'9#%9%0W!<#%!<300!0#G2$!<#9%A$!F80!<%9!"%4$4$%=%9=0'45B8K$:39%!4805
<%90!#00%923&H!30<%9%9!"%4$4!3=K'%9=K%0!:%9<%0L!
̀#9%A$!3=K!<%0!"%4$H%9%#G2!H%78'%0!4#%2$!(30!<#%!0%=%0!"%4$(.'&#G2A%#$%0!7L!VL!30!<%9 A80$#0=#%9&#G2%0!C%#$%9%0$:#GA&=0'!<%9!#0$%'9#%9$%0!8<%9!&%#G2$!7=!#04$3&&#%9%0<%0!E9:%#5
$%9=0'%0!#0!<%9!E0$:#GA&=0'4=('%H=0'!6#4=3&!B$=<#8!F80!D#G9848K$W!:34!#04H%480<%9%
<#%!48'%0300$%0!J&$#(3$%!E<#$#804!H%$9#KK$L!c%&3$#F!0%=!#4$!<#%!D.'&#G2A%#$W!=0(#$$%&H39
%#0!3=4KN29H39%4!@98'93((!7=!H%%#0K&=44%0W!#0<%(!K%4$'%&%'$!:#9<W!<344!H%#!H%4$#(($%0 D%$28<%03=K9=K%0!30<%9%9!a8<%!3=4'%KN29$!:#9<W!:34!F%9:30<$!(#$!<%(!F89'%4$%&&$%0 D8GA#$85I043$7!#4$L!̀34!D#G9848K$!j3A%4!j93(%:89A!2#&K$!<3H%#W!7=!$%4$%0<%0!a8<%!7=
#48&#%9%0L!̀3H%#!:%9<%0!"%#&%!<%4!a8<%4!<=9G2!48'%0300$%!B$=H4!8<%9!B2#(4!%94%$7$L
̀#%4!4#0<!A&%#0%!a8<%5j93'(%0$%W!<#%!F.&&#'!=0$%9!-80$98&&%!<%9!"%4$4!4$%2%0!nhD#GoL
̀%9!I043$7!%9&3=H$!%4W!K%9$#'%!B8K$:39%!7=!303&^4#%9%0!=0<!7=!H%%#0K&=44%0W!:34!3=K!A805 7%O$#80%&&%9!EH%0%!<%0!F89'%4$%&&$%0!D.'&#G2A%#$%0!<%9!I4O%A$89#%0$#%9=0'!=0<!<3(#$
à1!%0$4O9#G2$L
r3$N9&#G2!'#H$!%4!3=G2!F#%&%!r%=%9=0'%0W!:#%!<%9!#0!g3F3!Z!%#0'%KN29$%!b3(H<35I043$7W
<#%!A%#0%!<#9%A$%!I=4:#9A=0'!3=K!'%4G29#%H%0%!"%4$4!8<%9!<#%!"%4$%0$:#GA&=0'!23H%0L V%#!0%=!7=!4G29%#H%0<%0!"%4$4!A.00%0!"%4$4!<=9G2!<%0!b3(H<35I043$7!%$:34!A8(O3A5
$%9W!<3(#$!3=G2!&%4H39%9!'%4G29#%H%0!:%9<%0W!48!<344!<#%!r=$7=0'!KN9!0%=%!"%4$4!4#00F8&&
#4$L!E#0%!c%#(O&%(%0$#%9=0'!%f#4$#%9%0<%9!"%4$4!#4$!3H%9!0#G2$!08$:%0<#'L!l20&#G2%4!'#&$
KN9!<34!(#$!g3F3!Z!0%=!%#0'%KN29$%!j#&%5¥30<�'W!<34!<%=$&#G2!30'%0%2(%9!#0!<%9!r=$5 7=0'!KN9!E0$:#GA&%9!#4$W!3H%9!!=94O9N0'&#G2%!"%4$4!0#G2$!H%%#0K&=44$L!
]V^$Q!*."C!($:(@$hO!.@!1C:(6!(
10!<%9!F89'%4$%&&$%0!j3&&4$=<#%!:=9<%0!C%9A7%='%!7=9!D%44=0'!%#0#'%9!D%$9#A%0!=0<!7=9 I03&^4% !<%9!%99%#G2$%0 !pH%9<%GA=0'4'93<% !%#0'%H3=$L!V%#<% !I04)$7%!7%#'%0 !4#G2!3&4 2#&K9%#G2L!D%$9#A%0!%#'0%0!4#G2!#04H%480<%9%!7=9!I03&^4%!<%9!-8(O&%f#$)$!%#07%&0%9!D%5
$28<%0!=0<!-&344%0!48:#%!7=9!I03&^4%!<%9!I0732&!<%9!6%9A0NOK=0'%0!=0<!<3(#$!IH5 2)0'#'A%#$%0!F80!-&344%0L!D#$!pH%9<%GA=0'%0!:#9<!#04H%480<%9%!K%4$'%4$%&&$W!:%&G2%
V%9%#G2%!<%4!@98'93((4!0#G2$!8<%9!0=9!#0!'%9#0'%(!D3,%!'%$%4$%$!:%9<%0L!̀#%!'%03005
$%0!D3,%!4#0<!3H%9!(#$!6894#G2$!7=!H%$93G2$%0W!<3!4#%!#((%9!0=9!10<#A3$89%0!&#%K%90W!3H%9 :%<%9!%#0%!I=443'%!%9&3=H%0W!<344!<#%!7=!$%4$%0<%!B8K$:39%!=0<!<#%!"%4$4!#0!%#0%(!'=5
$%0!i=4$30<!4#0<W!08G2!<344!6%94$.,%!<#9%A$!3=K!@98H&%(%!2#0:%#4%0!(N44%0L
̀344!%4!4#G2!0=9!=(!10<#A3$89%0!230<%&$W!#4$!=0H%<#0'$!H%#!<%9!"%4$%94$%&&=0'!7=!H%9NGA5 4#G2$#'%0L!U%0%9%&&!K8A=44#%9%0!"%4$4!7=0)G24$!3=K!<#%!$^O#4G2%0W!F8(!E0<0=$7%9!4O)$%9 3(!(%#4$%0!'%0=$7$%0!IH&)=K%W!:34!03$N9&#G2!KN9!B^4$%($%4$4!3H%9!8K$!3=G2!KN9!J0#$5
"%4$4!'#&$L!1(!0)G24$%0!BG29#$$!:%9<%0!<#%!c30<K)&&%!=0<!%9:39$%$%0!I=4032(%K)&&%!!H%5 9NGA4#G2$#'$L!E94$!<300!#4$!%4!4#00F8&&W!3=K!pH%9<%GA=0'%0!7=!3G2$%0!=0<!7L!VL!<#%!j93'% 5 4$%&&=0'!3=K7=:%9K%0W!:39=(!'%:#44%!D%$28<%0!#0!<%0!%94$%&&$%0!"%4$K)&&%0!0#G2$!H%5 9NGA4#G2$#'$!:%9<%0L!E94$!:%00!4#G2%9'%4$%&&$!#4$W!<344!<#%!D%$28<%!H%0.$#'$!:#9<W!48&&$%
(30!KN9!4#%!:%#$%9%!"%4$4!%9')07%0L!B%29!:#G2$#'!H&%#H$!<3H%#!$98$7<%(W!<344!<#%!pH%9<%5 GA=0'!%#0!4%29!$9N'%9#4G2%4!D3,!4%#0!A300W!:#%!<34!V%#4O#%&!#0!IHH#&<=0'!S!7%#'$W!<34 n-&%RMo!%0$08((%0!#4$!=0<!#0!nBO#RXo!(#$!:%#$%9%0!V%#4O#%&%0!3=K'%'9#KK%0!:#9<L!
IHH#&<=0'!Sm!K3&4G2%!B8K$:39%!(#$!O%9K%A$%9!pH%9<%GA=0'
̀#%!IHH#&<=0'!S!7%#'$!�A4!%#0%!%#0K3G2%!D%$28<%!7=(!V%9%G20%0!<%4!D3f#(=(4!<9%#5
%9!NH%9'%H%0%9!C%9$%L!̀#%!9%G2$%!B%#$%!7%#'$!<%0!7='%2.9#'%0!-80$98&&K&=44'93O2%0L!D#$
<%0!�A4=0$%0!4O%7#K#7#%9$%0!"%4$K)&&%0!:%9<%0!3&&%!-30$%0!<%4!U93O2%0!'%0=$7$W!(30 4O9#G2$!F80!%#0%9!F8&&4$)0<#'%0!i:%#'3H<%GA=0'!;aR5pH%9<%GA=0'?!8<%9!3=G2!<%9!U35 930$#%W!<344!P%<%9!(.'&#G2%!IH&3=K4G29#$$!%#0(3&!3=4'%KN29$!:=9<%L!"98$7!<%9!F8&&4$)0<#5 '%0!"%4$3H<%GA=0'W!:8H%#!#0!P%<%(!"%4$!<34!%9:39$%$%!E9'%H0#4!F89&#%'$W!:%9<%0!<#%
7:%#!%0$23&$%0%0!'93F#%9%0<%0!j%2&%9!0#G2$!'%K=0<%0L!̀#%!D%$28<%!&#%K%9$!7=0)G24$!#(5 (%9!<%0!C%9$!0=&&W!:%00!3&&%!@393(%$%9!<%0!'&%#G2%0!C%9$!23H%0L!C%#$%92#0!&#%K%9$!<#%
D%$28<%!<34!K3&4G2%!E9'%H0#4W!:%00!f!<%9!'9.,$%!C%9$!=0<!7!'9.,%9!3&4!^!#4$L!!
]Vb$U:3#"4"C3*")($A)($Q"*3.O!"*!.(
̀#%!F892%9#'%0!-3O#$%&!(3G2%0!4%29!<%=$&#G2W!<344!<#%!I0K89<%9=0'%0!30!<#%![=3&#K#A3$#5 80!F80!D#$39H%#$%90!<%9![B!4$)0<#'!4$%#'%0L!r%H%0!<%0!7%0$93&%0!U9=0<H%'9#KK%0!=0<
%&%(%0$39%0!@987%44%0!<%9![B!nBCTRoW!(N44%0!7=(#0<%4$!%#0#'%!D#$39H%#$%9!E9K329=05 '%0!#0!<%9!B8K$:39%5I9G2#$%A$=9!H%4#$7%0!=0<!4#G2!A80$#0=#%9&#G2!#0!0%=%0!E0$:#GA&=0'45
=0<!"%4$$%G208&8'#%0!4G2=&%0L
E#0%0!7%0$93&%0!I043$7!H#%$%$!<3H%#!<#%!1B"[V5i%9$#K#7#%9=0'!nBbRYo!nBcCRXoW!<#%!%4 NH%9!(%29%9%!B$=K%0!%9(.'&#G2$W!%#0%!%#02%#$&#G2%!V%'9#KK4:%&$!KN9!j3G2H%'9#KK%!=0<!$^5 O#4G2%!@987%44%!7=!4G23KK%0L!U%93<%!#0!-DJ!48&&$%!%#0!%0'%9!I=4$3=4G2!7:#4G2%0!E0$5 :#GA&=0'!=0<![=3&#$)$44#G2%9=0'!%9K8&'%0L!qO$#(3&!23$!%#0!"%4$5"%3(!7=(#0<%4$!%#0%0
%9K329%0%0!E0$:#GA&%9W!<%9!303&^$#4G2!4%29!4$39A!=0<!#0!@987%44%0!=0<!D%$28<%0!<%9 [=3&#$)$44#G2%9=0'!3=4'%H#&<%$!#4$L!E#0!I=4$3=4G2W!H%#!<%(!E0$:#GA&%9!#0!%#0%(!@98P%A$
7=!"%4$%90!#0!30<%9%0!@98P%A$%0!:%9<%0W!A300!<#%![=3&#$)$!#0!H%#<%0!V%9%#G2%0!F%9H%45 4%90W!<3!H%#!<%9!E0$:#GA&=0'!(%29!NH%9!<#%!"%4$H39A%#$!=0<!H%#!<%9!"%4$%94$%&&=0'!(%29 NH%9!@98'93((#%9O98H&%(%!03G2'%<3G2$!:#9<L!i=!H%3G2$%0!H&%#H$W!<344!-%903=K'3H%0
<%9![=3&#$)$44#G2%9=0'W!:#%!<%9!I=KH3=!F80!"%4$30&3'%0!=0<!<34!"%4$(303'%(%0$!:%#5
$%92#0!O393&&%&!F80!%9K329%0%0![B5D#$39H%#$%90!%9K8&'%0!(N44%0L
E#0!<%=$&#G2!A9#$#4G2%9!7=!H%:%9$%0<%9!C%'!#4$!'%93<%!H%#!<%9!E#0KN29=0'!%#0%9!"%4$3=$85 (3$#4#%9=0'W![B5=0%9K329%0%!D#$39H%#$%9!(#$!<%(!I=KH3=!%#0%4!48&G2%0!@987%44%4!7=!H%5 3=K$93'%0L!@344#%9$!<#%4!7L!VL!#(!c32(%0!F80!IH4G2&=4439H%#$%0W!23$!(30!8K$!%0'3'#%9$%
B$=<#%9%0<%W!<#%!3H%9!0#G2$!<%0!pH%9H&#GA!NH%9!<#%!D.'&#G2A%#$%0!23H%0!=0<!H%#!E0$5 4G2%#<=0'%0!<#%!-9#$%9#%0!KN9!<%0!9#G2$#'%0!C%'!0#G2$!=0H%<#0'$!A899%A$!H%:%9$%0!A.05 0%0L!̀#%4!#4$!<=9G2!%#0%!%9K329%0%!V%$9%==0'!3=47='&%#G2%0W!<3!304804$%0!<#%!9%4=&$#%9%05
<%![=3&#$)$!<%4!E9'%H0#44%4!%2%9!%#0!i=K3&&4O98<=A$!#4$L!E#0!V%#4O#%&!#4$!<#%!r=$7=0'!<%4 qH%9K&)G2%0$%4$:%9A7%='4!KN9!:%HH34#%9$%!B8K$:39%!B%&%0#=(!nhB%&oW!<34!7:%#!639#305
$%0!30H#%$%$L!10!<%9!%94$%0!639#30$%!:%9<%0!"%4$4!H%#!<%9!I=4KN29=0'!3=K'%7%#G20%$!=0<
A.00%0!:)29%0<!=0<!03G2!<%9!I=K7%#G20=0'!=(!i=4#G2%9=0'%0!%9:%#$%9$!:%9<%0L!̀#%
7:%#$%!639#30$%!%9(.'&#G2$!<#%!F8&&4$)0<#'%!"%4$%94$%&&=0'!<#9%A$!#0!%#0%9!@98'93((#%95 4O93G2%W!#0!<%9!7=0)G24$!<#%!O344%0<%0!I04$%=%9=0'4H%K%2&%!KN9!<#%!qH%9K&)G2%0!%0$:#5 GA%&$!:%9<%0!(N44%0L!C)29%0<!<%9!%94$%!I043$7!KN9!4G20%&&%!"%4$4W!<#%!$^O#4G2%9:%#4%
0#G2$!KN9!c%'9%44#804$%4$4!'%0=$7$!:%9<%0W!4%29!'=$!'%%#'0%$!#4$W!O344$!<%9!7:%#$%!30K)0'5
&#G2!3=K:)0<#'%9%!I043$7!<%=$&#G2!H%44%9!7=9!E0$:#GA&=0'!:39$H39%9!"%4$4!H34#%9%0<!3=K
%#0%9!A&39%0!"%4$39G2#$%A$=9L!E4!#4$!<%423&H!K93':N9<#'W!03G2!-807%O$%0!7=!4=G2%0W!(#$
<%0%0!<#%!C39$H39A%#$!H%#(!%94$%0!I043$7!&%#G2$!F%9H%44%9$!:#9<L
^$W:0377!(4300:(6$:(@$>:0O#"1C
̀%9!C%'!7=!&30'K9#4$#'!:39$5!=0<!%9:%#$%9H39%9!B8K$:39%!H%4$%2$!3=4!<%9!A80$#0=#%9 G2%0!I0O344=0'!<%9!E0$:#GA&=0'4O987%44%!30!0%=%!@98P%A$'%'%H%02%#$%0W!:#%!<#%!@985 P%A$'9.,%!=0<!@98P%A$F39#30$%0L!E#0!7%0$93&%9!@987%44!<%4!b8$BE!#4$!<3H%#!<#%![=3&#$)$44#5 G2%9=0'L!̀#%!I=$8(3$#4#%9=0'!:%4%0$&#G2%9!BG29#$$%!<%9![=3&#$)$44#G2%9=0'!'3930$#%9$!<35 H%#!<#%!"%4$H39A%#$!<%4!B^4$%(4W!#4$!3H%9!0=9!%#0!"%#&!<%4!I043$7%4L!C%#$%9%W!2#%9!0#G2$!#(
̀%$3#&!H%$93G2$%$%!V%4$30<$%#&%W!=(K344%0!<%0!A8(O80%0$%0H34#%9$%0!B8K$:39%5I=KH3=W
<#%!282%![=3&#K#A3$#80!<%9!D#$39H%#$%9!=0<!<#%!A80$#0=#%9&#G2%!B=G2%!03G2!@987%44F%95 H%44%9=0'4(.'&#G2A%#$%0L
̀#%!#0!<%9!j3&&4$=<#%!H%4G29#%H%0%!@987%448O$#(#%9=0'!7%#'$!%#0!%9K8&'9%#G2%4!V%#4O#%&
<3KN9W!:#%!<=9G2!6%9H%44%9=0'%0!%#0%4!3A$=%&&!'%&%H$%0!E0$:#GA&=0'4O987%44%4!%#0%!EK5 K#7#%074$%#'%9=0' ! #0 ! %#0%( ! B8K$:39%52%94$%&&%0<%0 ! -DJ ! <=9G2 ! I=$8(3$#4#%9=0' ! F80
;UJ15?"%4$4!%99%#G2$!:#9<L!V%3G2$%$!:%9<%0!(=44W!<344!<%9!C%'!F80!<%9!1<%%!7=9!I=$85 (3$#4#%9=0'!H#4!2#0!7=9!J(4%$7=0'!0#G2$!$9#F#3&!#4$W!'%03=!'%O&30$!:%9<%0!(=44!=0<!%4
<=9G23=4!j3A$89%0!'%H%0!A300W!<#%!7=9!r#G2$=(4%$7=0'!KN29%0!A.00%0L!̀%9!H%4G29#%H%5 0%!I=$8(3$#4#%9=0'43043$7!:#9<!:%#$%9%0$:#GA%&$L!
V%#!<%0![B5@987%44%0!=0<![B5C%9A7%='%0W!3H%9!3=G2!#0!30<%9%0!V%9%#G2%0W!(=44!(30 NH%9!1008F3$#80%0!=0<!#29%!(.'&#G2%!10$%'93$#80!#0!<%0!H#42%9#'%0!E0$:#GA&=0'4:%' 03G2<%0A%0L!i=!H%3G2$%0!#4$W!<344!%#0!%#0K3G2%9!-9#$%9#%0A3$3&8'!H7'&L!<%9!'%K89<%9$%0 j=0A$#803&#$)$!7=!9%4$9#A$#F!4%#0!A300L!D30!(=44!7=0)G24$!<#%!D.'&#G2A%#$%0!303&^4#%9%0W :%&G2%!C%9A7%='%!30H#%$%0W!<#%!3H%9!#(!3A$=%&&%0!E0$:#GA&=0'4O987%44!08G2!A%#0%!c8&5
&%!'%4O#%&$!23H%0L!̀#%4%!1008F3$#804(.'&#G2A%#$!#4$!#0!<%9!IHH#&<=0'!e!7=43((%0'%5 K344$W!<#%!F80!<%9!I=4'30'44#$=3$#80!3=K!<%9!�A%0!B%#$%!03G2!<%9!6893=4:32&!'%%#'0%$%9 C%9A7%='%!;C?!<%0!@987%44!7=9!EF3&=3$#80!<%9!C%9A7%='(.'&#G2A%#$%0!=0<!<#%!9%4=&5
$#%9%0<%!0%=%!E0$:#GA&=0'4=('%H=0'!3=K!<%9!9%G2$%0!B%#$%!7%#'$L!
IHH#&<=0'!em!EF3&=3$#80!#008F3$#F%9![B5C%9A7%='%
U%0%9%&&!#4$!<#%![B!%#0!@987%44W!<%9!<=9G2!0%=%!"%G208&8'#%0!3=G2!#(!V%9%#G2!<%4!B8K$5 :39%5E0'#0%%9#0'!4#G2!#0!4$)0<#'%9!E0$:#GA&=0'!H%K#0<%$!=0<!0=9!<=9G2!28G2d=3&#K#7#%95
$%!D#$39H%#$%9!&30'K9#4$#'!H%#!%#0%9!4#G2!:%#$%9%0$:#GA%&0<%0!B8K$:39%!%KK#7#%0$!0=$7H39 H&%#H%0!A300L!
T"*!.3*:.A!.G!"12("0
Fbnhà1o gBc!MXem!a80$%f$4!30<!̀%O%0<%0G^!10P%G$#80!K89!g3F3!EE!RLRW!
2$$O4mttPGOL89't%0tP49t<%$3#&>#<xMXe
nhj%4o K%4$!5!j#f$=9%4!K89!E34^!B8K$:39%!"%4$#0'W!2$$O4mttG8<%L'88'&%LG8(tOtK%4$t nhD#Go! D#G9848K$!̀%F%&8O%9!r%$:89ALW!148&3$#0'!a8<%!=0<%9!"%4$!:#$2!D#G9848K$!j3A%4W!
2$$Omtt(4<0L(#G9848K$LG8(t<%5<%t&#H939^t22SX̲R]SL34Of
nhD8Go (8GA#$8!Q!4#(O&%9!˜!H%$$%9!(8GA#0'W!2$$O4mttG8<%L'88'&%LG8(tOt(8GA#$8t nhcEBo gBc!MM̲m!gIy5cB!YLTm!"2%!g3F3!I@1!K89!cEB"K=&!C%H!B%9F#G%4W!
2$$O4mttPGOL89't%0tP49t<%$3#&>#<xMM̲
nhB%&o B%&%0#=(!Q!C%H!V98:4%9!I=$8(3$#80W!2$$Omtt:::L4%&%0#=(2dL89't nhB#Go 4#A=5O#!5!B#A=&#!g3F3!I@1W!2$$O4mttG8<%L'88'&%LG8(tOt4#A=5O#t nhC%Ho gBc!MSem!g3F3!I@1!K89!C%HB8GA%$W!2$$O4mttPGOL89't%0tP49t<%$3#&>#<xMSe
nV=9RXo! VL!V=9A%W!cEB"K=&!g3F3!:#$2!gIy5cB!YLTW!q⁄c%#&&^W!B%H34$8O8&!;aI?W!JBIW!YTRX ǹ#$RXo IL!̀#$&%9W!@98$8$^O#4G2%!c%3#%9=0'!%#0%4!EG2$7%#$5C%HG23$4!3&4!a9844O&3$$K89(5IOO
A3$#80!3=K!V34#4!F80!C%HB8GA%$4W!V3G2%&8939H%#$W!¥8G24G2=&%!q403H9NGAW!YTRX n¥%#RYo IL!¥%#<$W!-807%O$#80!=0<!c%3#%9=0'!%#0%9!3=$8(3$#4#%9$%0!"%4$=('%H=0'!#0!%#0%(!
a80$#0=8=4!10$%'93$#80!@987%44!KN9!3<(#&%8W!VI5I9H%#$W!¥8G24G2=&%!q403H9NGAW!YTRY n¥jRTo gL!¥=(H&%W!̀L!j39&%^W!a80$#0=8=4!̀%&#F%9^m!c%H&%!B8K$:39%!c%&%34%4!$298='2!V=#&<W!
"%4$W!30<!̀%O&8^(%0$!I=$8(3$#80W!RW!I<<#4805C%4&%^!b80'(30W!I(4$%9<3(W!YTRT n¥-RYo! IL!¥%#<$W!BL!-&%=A%9W!-80$#0=#%9&#G2%!@987%44F%9H%44%9=0'!<=9G2!"%4$3=$8(3$#4#%9=0'L!
10m!¥L!V930<$5@88AW!IL!j&%%9W!"L!BO#$$3W!DL!C3$$%0H%9'W!r3G223&$#'%4!B8K$:39%!D303'%5 (%0$W!V#%&%K%&<W!YTRYW!U15E<#$#80!5!br1W!@5YT̲L!B%#$%0!e̲5]ZW!-.&&%0W!V800!YTRY n¥=HRTo "L!aL!¥=H%9W!C#0<8:4!@9%4%0$3$#80!j8=0<3$#80!Q!̀34!=(K344%0<%!¥30<H=G2W!U3&#&%8!
a8(O=$#0'W!V800!YTRT
n-&%RMo! BL!-&%=A%9W