design and syntheses of donor-acceptor dyads and triads for improved light harvesting in
TRANSCRIPT
University of Massachusetts Amherst University of Massachusetts Amherst
ScholarWorks@UMass Amherst ScholarWorks@UMass Amherst
Doctoral Dissertations Dissertations and Theses
April 2014
Design and Syntheses of Donor-Acceptor Dyads and Triads for Design and Syntheses of Donor-Acceptor Dyads and Triads for
Improved Light Harvesting in Organic Photovoltaics Improved Light Harvesting in Organic Photovoltaics
Andrea Della Pelle University of Massachusetts - Amherst
Follow this and additional works at: https://scholarworks.umass.edu/dissertations_2
Part of the Chemistry Commons
Recommended Citation Recommended Citation Della Pelle, Andrea, "Design and Syntheses of Donor-Acceptor Dyads and Triads for Improved Light Harvesting in Organic Photovoltaics" (2014). Doctoral Dissertations. 36. https://scholarworks.umass.edu/dissertations_2/36
This Open Access Dissertation is brought to you for free and open access by the Dissertations and Theses at ScholarWorks@UMass Amherst. It has been accepted for inclusion in Doctoral Dissertations by an authorized administrator of ScholarWorks@UMass Amherst. For more information, please contact [email protected].
! !
!!!!!!!!
!"#$%&'(&!'#)&*+"#"#',-'!,&,./(00"1*,.'!)(!#'(&!'*.$(!#'-,.'
$21.,3"!'4$%+*'+(.3"#*$&%'$&',.%(&$0'1+,*,3,4*($0#'
'
!!!!!!!
"!#$%%&'()($*+!,'&%&+(&-!!./!!
"0#12"!34!#255"!,2552!!!!!!!!!!!
67.8$((&-!(*!(9&!:')-7)(&!6;9**<!*=!(9&!>+$?&'%$(/!*=!3)%%);97%&((%!"89&'%(!$+!@)'($)<!=7<=$<<8&+(!
*=!(9&!'&A7$'&8&+(%!=*'!(9&!-&B'&&!*=!!
#CDEC1!CF!,GH5C6C,GI!!
F&.'7)'/!JKLM!!
#&@)'(8&+(!*=!D9&8$%('/!! !
! !
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
N!D*@/'$B9(!./!"+-'&)!34!#&<<)!,&<<&!JKLM!!
"<<!1$B9(%!1&%&'?&-!!!!!
! !
!!!!
!"#$%&'(&!'#)&*+"#"#',-'!,&,./(00"1*,.'!)(!#'(&!'*.$(!#'-,.'
$21.,3"!'4$%+*'+(.3"#*$&%'$&',.%(&$0'1+,*,3,4*($0#!!!!!!!
"!#$%%&'()($*+!,'&%&+(&-!!./!!
"0#12"!34!#255"!,2552!!!!!
"@@'*?&-!)%!(*!%(/<&!)+-!;*+(&+(!./O!!!
!!PPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPP! !6)+Q)')+!E9)/78)+)?)+R!D9)$'!!!!PPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPP! !,)7<!34!5)9($R!3&8.&'!!!!PPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPP! !3$;9)&<!#4!S)'+&%R!3&8.&'!!!!PPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPP! !1/)+!D4!G)/T)'-R!C7(%$-&!3&8.&'!!!!!
!PPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPP!!D')$B!E4!3)'($+R!#&@)'(8&+(!G&)-!!D9&8$%('/!
! !
!"!$0(*$,&'
'
'
E*!8/!=)8$</O!(9&!*+&!H!T)%!.*'+!$+(*!)+-!(9&!*+&!(9)(!H!9)?&!8)-&!=*'!8/%&<=R!
&%@&;$)<</!8/!)+B&<%!$+!9&)?&+O!F5R!1DR!)+-!554!
'
?!
(05&,64"!%2"&*#'
! !
! E9&'&! )'&! %*!8)+/! @&*@<&! (9)(! H! +&&-! (*! (9)+Q! )+-! );Q+*T<&-B&! =*'! (9&$'!
;*+('$.7($*+%!(*!(9$%!(9&%$%4!!!
! F$'%(</R! H! ;*7<-!+*(!9)?&!-*+&! (9$%!T$(9*7(! (9&! %7@@*'(!)+-!B7$-)+;&!*=!8/!
)-?$%*'!,'*=4!E9)/78)+)?)+4! !E9&'&!)'&!%*!8)+/!(9$+B%! (9)(! H!)-8$'&!)+-!'&%@&;(!
).*7(! ,'*=4! E9)$R! 8*%(! +*().</! )'&! @'*.).</! 9$%! @)%%$*+! =*'! %;$&+;&! )+-! 9$%!
;*88$(8&+(!(*!9$%!'&%&)';9!B'*7@4!!H!9)?&!(*!(9)+Q!9$8!=*'!)<T)/%!.&<$&?$+B!$+!8&!
&%@&;$)<</!T9&+!H!-$-+U(!.&<$&?&!$+!8/%&<=4!
! H!T*7<-!)<%*!<$Q&!(*!(9)+Q!8/!;*88$((&&!8&8.&'%R!,'*=4!5)9($R!,'*=4!S)'+&%R!
)+-! ,'*=4! G)/T)'-R! =*'! (9&$'! ;*+('$.7($*+%! )+-! $+%$B9(%! (9'*7B9*7(! (9&! /&)'%4! ! H!
T*7<-!)<%*! <$Q&!(*!(9)+Q!8/!7+-&'B')-7)(&!'&%&)';9!)-?$%*'!,'*=4!54!V')$B!6(&==&+R!
)+-!)<<! (9&!@'*=&%%*'%!)(!F)$'=$&<-!>+$?&'%$(/R!T9*!.&<$&?&-! $+!8&R!%($<<! ;9&;Q! $+!*+!
8&R!)+-!9)?&!9&<@&-!8&!(*!B&(!(*!T9&'&!H!)8!(*-)/4!
! H! +&&-! (*! (9)+Q! )<<! *=! 8/! ;*<<).*')(*'%O! "8.)()! ,*&R! I*7+BW7! S)&R! ,)7<!
G*8+$;QR!#'4!"Q%9)/!V*Q$<R!#'4!67@')?)(!V)')QR! X);*.R!G)'?&/R!)+-!,'*=4!"<&Y)+-&'!
6$-*'&+Q*4!!H!&%@&;$)<</!+&&-!(*!(9)+Q!#'4!"%9*Q!3)<$)Q)<!=*'!(9&!)8)Z$+B!$+(&'+%9$@!
*@@*'(7+$(/4!!H!9)?&!)<%*!.&&+!<7;Q/!(*!8&+(*'!%*8&!*=!(9&!.'$B9(&%(!7+-&'B')-7)(&!
%(7-&+(%R! )<<! *=! T9*8! 9)?&! ;*+('$.7(&-! (*! (9&! T*'Q! $+! (9$%! (9&%$%O! 2<<&! X&==&'$&%R!
5)7')!6($';9)QR!)+-!6&)+!S/'+&%4!
! H!)<%*!+&&-!(*!(9)+Q!)<<!;7''&+(!)+-!@)%(!8&8.&'%!*=!(9&!E9)$!:'*7@!F)8$</!
)+-! 2+&'B/! 67.B'*7@! &%@&;$)<</R! "8.)()! ,*&! [H! 9)-! (*!8&+($*+! /*7! (T$;&\]R! X$+B!
:7*R! V'$%9+)!1)B97@)(9$R! X$)8$+B! ^97)+BR! V$%9*'&!1)B97@)(9$! R,$/);9)$! V9*8&$+R!
?$!
,'/$))! ,')%)-R! #'4! 1&7.&+! D9);Q*R! #'4! E&W)%T$+$! V)<&R! #'4! :4! S)<)W$R! #'4! #)+$&<<)!
:*+Z)<&Z!E*'*R!#'4!6$'$@*'+! X$T@)+$;9R!#'4!6*8@$(!_)+T*+BR!#'4!"//)B)'$!`&+Q)()!
67.')98)+/)8!)+-!#'4!"4!D9)+-')%&Q)')+4! !"!?&'/! %@&;$)<! (9)+Q!/*7! (*!)<<!*=!8/!
;<)%%8)(&%!T9*! 9)?&! .&&+! (9&'&!T$(9!8&! (9'*7B9! &?&'/! %&;*+-O! #$&B*! F&'+)+-*!
"8)-*! E*''&%R! F&+B! _)+BR! )+-! 1)W)%&Q9)'! 1)8$! 1&--$4! ! H! T$<<! B'&)(</! 8$%%! *7'!
%7.B'*7@!8&&($+B%!)+-!9*(!@*(\!
! H!+&&-!(*!(9)+Q!)<<!8/!='$&+-%!*7(%$-&!*=!(9&!E9)$!5).!=*'!)<<!*=!(9&$'!%7@@*'(!
(9'*7B9*7(! 8/! =$?&! /&)'%! 9&'&O! #'4! :$()+W&<$! ,')%)-R! #'4! "7%($+! D/@9&'%8$(9R! #'4!
6')?)+! 67')8@7-$R! 5)<$(9)! 67')8@7-$R! X&=='&/! 57;)%R! )+-! 8/! @)%(! )+-! @'&%&+(!
a&?&'/!*(9&'!_&-+&%-)/b!%$%(&'%4!!!
! H!T*7<-!+*(!9)?&!.&&+!).<&!(*!B&(!(*!(9$%!@*$+(!T$(9*7(!(9&!9&<@!*=!(9&!&+($'&!
%()==! *=! (9&! D9&8$%('/! #&@)'(8&+(! &%@&;$)<</! 1*.&'(! 6).*<)R! 1/)+! F&/'&'R! 3)'?$+!
2<<$+R!#&++$%!:<$;QR!)+-!8/!<).!8*8!V)'&+!G)Q)<)4!!!
! 5)%(R!.7(!-&=$+$(&</!+*(!<&)%(R!H!+&&-!(*!(9)+Q!(9&!&+($'&!#&<<)!,&<<&R!5)F')Z$)R!
)+-!D*+(')-*!=)8$<$&%!$+!)--$($*+!(*!*7'!='$&+-%!T9*!9)?&!.&;*8&!=)8$</4!!I*7'!<*?&!
)+-!%7@@*'(!8&)+!8*'&!(*!8&!(9)+!H!;*7<-!&?&'!&Y@'&%%!*'!/*7!;*7<-!&?&'!Q+*T4!!H!
)8!T9&'&!H!)8!(*-)/!.&;)7%&!/*7!.&<$&?&-!$+!8&4! !2);9!)+-!&?&'/!*+&!*=!/*7!9)%!
%9)@&-!(9&!@&'%*+!(9)(!H!)8!(*-)/!)+-!H!)8!('7</!.<&%%&-!(*!9)?&!/*7!)%!8/!=)8$</4!!
0*!8)((&'!T9&'&!(9$%!;')Z/!;)'&&'!()Q&%!8&R!'&8&8.&'!(9)(!/*7!)'&!)<T)/%! $+!8/!
9&)'(!)+-!H!T$<<!)<T)/%!W7%(!.&!(9&!<*7-!H()<$)+!B$'<!-'$+Q$+B!DD!c!B$+B&'!)+-!%$+B$+B!
,$)+*!3)+4!!H!T*7<-!)<%*!<$Q&!(*!(9)+Q!8/!)+B&<%!$+!G&)?&+!T9*!H!(7'+!(*!;*+%()+(</!
=*'!%('&+B(9!)+-!B7$-)+;&R!&%@&;$)<</!,)@)R!D*7%$+!1)<@9$&R!)+-!5)7')4!
?$$!
! E*!8/!8*(9&'R!,)('$;$)R!8/! =)(9&'R!,&(&'R!)+-!8/!.$B!%$%(&'R!"+B&<)O! ! H!9*@&!
(9)(!H!9)?&!8)-&!/*7!)<<!%*!@'*7-!*=!8&4!!H!Q+*T!+*T!(9)(!H!9)?&!(9&!B'&)(&%(!=)8$</!
&?&'4!!I*7!9)?&!)<T)/%!%7@@*'(&-!8&!)+-!;9)<<&+B&-!8&!(*!.&!(9&!.&%(!@&'%*+!(9)(!H!
;)+!.&4!!6$+;&!(9&!-)/%!*=!(9&!-'&)-&-!'&-!@&+R!/*7!9)?&!$+%$%(&-!(9)(!H!+&?&'!%&((<&!
=*'!)+/(9$+B!.7(!8/!.&%(4! ! H!Q+*T!(9)(!/*7!+&?&'!7+-&'%(**-!T9)(! H!T)%!-*$+B! $+!
B')-7)(&!%;9**<!.7(!/*7!T&'&!)<T)/%!(9&'&!(*!<$%(&+4!!H(!$%!.&;)7%&!*=!/*7!(9)(!H!9)?&!
8)-&!$(!(9$%!=)'!)+-!H!%9)'&!8/!%7;;&%%!T$(9!/*7R!.&;)7%&!(9$%!(9&%$%!$%!+*(!W7%(!8$+&R!
.7(!/*7'%!)%!T&<<4!
?$$$!
(7#*.(0*'
!"#$%&'(&!'#)&*+"#"#',-'!,&,./(00"1*,.'!)(!#'(&!'*.$(!#'-,.'
$21.,3"!'4$%+*'+(.3"#*$&%'$&',.%(&$0'1+,*,3,4*($0#!!
F2S1>"1I!JKLM!!
"0#12"!34!#255"!,2552R!S464R!F"H1FH25#!>0H`216HEI!!
,94#4R!>0H`216HEI!CF!3"66"DG>62EE6!"3G216E!!
#$'&;(&-!./O!,'*=&%%*'!6)+Q)')+!E9)/78)+)?)+!!
! "<<! *'B)+$;! @9*(*?*<()$;%! [C,`%]! 7+-&'B*! =*7'!8)W*'! @'*;&%%&%! (*! ;*+?&'(!
%7+<$B9(!$+!&<&;('$;)<!&+&'B/4!!E9&!=$'%(!@'*;&%%!$%!(9&!).%*'.)+;&!*=!%7+<$B9(4!!#7&!(*!
(9&! <$8$(! *=! )?)$<).<&! );;&@(*'! 8*<&;7<&%R! (9&! .7'-&+! *=! <$B9(! ).%*'.)+;&! T&$B9%!
9&)?$</! *+! (9&!-*+*'!8)(&'$)<4! ! E9$%! (9&%$%! =*;7%&%!9&)?$</! *+! (9&!-&?&<*@8&+(!*=!
-/&%!;*+%$%($+B!*=!-*+*'d);;&@(*'!-/)-%!)+-!('$)-%!=*'!$8@'*?&-!<$B9(!9)'?&%($+B!$+!
C,`%4!
! 6A7)')$+&! -/&%! %9*T! $8@'&%%$?&! <$B9(! 9)'?&%($+B! @'*@&'($&%! T$(9!
).%*'.)+;&%!$+!(9&!>`!(*!+&)'!H1!'&B$*+!T$(9!&Y($+;($*+!;*&==$;$&+(%!*+!(9&!*'-&'!*=!
LKe! 3dL! ;8dL4! ! >+=*'(7+)(&</R! $8@'*?&-! <$B9(! 9)'?&%($+B! $%! +*(! &+*7B9! (*! $+%7'&!
*@($8$Z&-! C,`%4! ! 2+&'B/! <&?&<! (7+$+B! (*! $+;'&)%&! `CD! )+-! $+%7'&! &==$;$&+(! &Y;$(*+!
-$%%*;$)($*+!$%!)<%*!'&A7$'&-4!!F7+;($*+)<$Z$+B!%A7)')$+&!-/&%!T$(9!&<&;('*+!-*+)($+B!
*'!&<&;('*+!T$(9-')T$+B!B'*7@%!)<<*T!=*'!(9&!%/%(&8)($;!(7+$+B!*=!(9&!GC3C!&+&'B/!
<&?&<%4!!E9$%!(7+).$<$(/!)<<*T%!=*'!(9&!;*+;7''&+(!*@($8$Z)($*+!*=!.)+-B)@!)+-!`CD4!
! D/)+$+&! -/&%! 9)?&! .&&+! &Y@<*'&-! =*'! %8)<<! 8*<&;7<&! C,`%! -7&! (*! (9&$'!
$8@'&%%$?&! ).%*'.)+;&! @'*@&'($&%4! ! E9&! ).%*'.)+;&! *=! Q&(*;/)+$+&! -/&%! ;)+! .&!
(7+&-!./!8)+$@7<)($+B!(9&!%('&+B(9!*=!(9&!);;&@(*'!8*$&(/4!!6('*+B&'!);;&@(*'%!)'&!
.&((&'!).<&!(*!%().$<$Z&!(9&!+&B)($?&!;9)'B&!$+!(9&!;9)'B&!%&@)')(&-!%()(&!*=!(9&!-/&4!!
$Y!
E9$%!%().$<$Z)($*+!)<<*T%!=*'!)!B'&)(&'!;*+('$.7($*+!='*8!(9&!;/)+$+&!%('7;(7'&!*=!(9&!
-/&R! (97%! '&-! %9$=($+B! (9&! ).%*'.)+;&4! ! 6('*+B&'! );;&@(*'%! )<%*! $+;'&)%&! (9&!
;*887+$;)($*+! .&(T&&+! (9&! (T*! )8$+&! =7+;($*+)<$($&%! )%! -&8*+%(')(&-! ./! ;/;<$;!
?*<()88&('/4!!!
! S<*;Q!;*@*</8&'%!%9*T!$8@'&%%$?&!8*'@9*<*B$;)<!;*+('*<!(9'*7B9!(9&!(7+$+B!
*=!(9&!8*<&;7<)'!T&$B9(!*=!(9&!.<*;Q%!)%!T&<<!)%!(9&!;*8@)($.$<$(/!*=!(9&!=7+;($*+)<!
B'*7@%4! ! E9$%! )<<*T%! =*'! (9&! );;&%%! *=!8*'@9*<*B$&%!T$(9! %8)<<R!T&<<! *'-&'&-R! )+-!
;*+($+7*7%! -*8)$+%! (9*7B9(! (*! .&! .&+&=$;$)<! $+! (9&! );($?&! <)/&'! *=! C,`%4!!
>+=*'(7+)(&</R!.<*;Q! ;*@*</8&'%!*=(&+! %9*T! $+=&'$*'! <$B9(!9)'?&%($+B! ;*8@)'&-! (*!
(9&$'! ;*+W7B)(&-! @*</8&'! ;*7+(&'@)'(%4! ! #*+*'d);;&@(*'! %/%(&8%! )'&! &Y@<*'&-! )%!
%&+%$($Z&'%!=*'!.<*;Q!;*@*</8&'!C,`%4! !68)<<!8*<&;7<&%!T$(9*7(!(T$%(%!*'!.&+-%!*'!
);&(/<&+&! <$+Q&'%! T&'&! =*7+-! (*! .&! 8*%(! &==&;($?&! =*'! <*T&'$+B! (9&! .)+-B)@! )+-!
)<$B+$+B!(9&!&+&'B/!<&?&<%4!
Y!
*(74"',-'0,&*"&*#'
!! ,)B&!!"DV0C_52#:320E6!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!?!
"S6E1"DE!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!?$$$!
5H6E!CF!E"S526!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Y$?!
5H6E!CF!FH:>126!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Y?!
5H6E!CF!6DG2326!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!YY!
DG",E21!
L4! H0E1C#>DEHC0!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!L!
L4L!,9*(*?*<()$;%!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!L!L4J!,'*;&%%&%!$+!C'B)+$;!,9*(*?*<()$;%!44444444444444444444444444444444444444444444444444444444444444444444444444444!J!
!L4J4L!5$B9(!G)'?&%($+B!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!J!L4J4J!2Y;$(*+!#$==7%$*+!)+-!#$%%*;$)($*+!444444444444444444444444444444444444444444444444444444444444!e!L4J4f!D9)'B&!3$B')($*+!)+-!D*<<&;($*+!44444444444444444444444444444444444444444444444444444444444444444!g!
!L4f!#&?$;&!,)')8&(&'%!*=!C'B)+$;!,9*(*?*<()$;%!44444444444444444444444444444444444444444444444444444444444!h!L4M!,*</8&'!,9*(*?*<()$;%!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!i!L4e!68)<<!3*<&;7<&!,9*(*?*<()$;%!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Lf!L4g!6788)'/!)+-!#$%%&'()($*+!C?&'?$&T!4444444444444444444444444444444444444444444444444444444444444444444444!LM!L4h!1&=&'&+;&%!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Lg!
!
J4! 2021:I!52`25!E>0H0:!H0!6j>"1"H02!#I26!FC1!H3,1C`2#!5H:GE!G"1`26EH0:!"0#!C,20!DH1D>HE!`C5E":2!FC1!C1:"0HD!,GCEC`C5E"HD6!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!JJ!
!J4L!H+('*-7;($*+!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!JJ!J4J!1&%7<(%!)+-!#$%;7%%$*+!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!JM!
!J4J4L!3*<&;7<)'!#&%$B+!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!JM!J4J4J!C@(*&<&;('*+$;!,'*@&'($&%!444444444444444444444444444444444444444444444444444444444444444444444444444!Ji!J4J4f!D9)'B&!E')+%@*'(!,'*@&'($&%!444444444444444444444444444444444444444444444444444444444444444444444!fM!J4J4M!,9*(*?*<()$;!,'*@&'($&%!4444444444444444444444444444444444444444444444444444444444444444444444444444444!fk!
!J4f!6788)'/!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!ML!J4M!2Y@&'$8&+()<!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!MJ!
Y$!
!J4M4L!6/+(9&%$%!*=!fRed-$8&(9*Y/d0R0d-$@9&+/<)+$<$+&!44444444444444444444444444444!MJ!J4M4J!6/+(9&%$%!*=!ed[-$@9&+/<)8$+*].&+Z&+&dLRfd-$*<!4444444444444444444444444444!Mf!J4M4f!6/+(9&%$%!*=!JRMd.$%[Md[-$@9&+/<)8$+*]dJRgd
-$9/-'*Y/@9&+/<];/;<*.7()dLRfd-$&+&dLRfd.$%[*<)(&]![6AdE""dG]!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Mf!
J4M4M!6/+(9&%$%!*=!0R0d.$%[Md=<7*'*@9&+/<]dfRed-$8&(9*Y/)+$<$+&!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!MM!
J4M4e!6/+(9&%$%!*=!ed[.$%[Md=<7*'*@9&+/<])8$+*].&+Z&+&dLRfd-$*<!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!MM!
J4M4g!6/+(9&%$%!*=!JRMd.$%[Md[.$%[Md=<7*'*@9&+/<])8$+*]dJRgd-$9/-'*Y/@9&+/<];/;<*.7()dLRfd-$&+&dLRfd.$%[*<)(&]![6AdE""dF]!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Me!
J4M4h!6/+(9&%$%!*=!.$%[Md9&Y/<@9&+/<])8$+&!44444444444444444444444444444444444444444444444444!Mg!J4M4k!6/+(9&%$%!*=!0R0d.$%[Md9&Y/<@9&+/<]dfRed
-$8&(9*Y/)+$<$+&!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Mg!J4M4i!6/+(9&%$%!*=!ed[.$%[Md9&Y/<@9&+/<])8$+*].&+Z&+&dLRfd
-$*<!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Mh!J4M4LK!6/+(9&%$%!*=!JRMd.$%[Md[.$%[Md9&Y/<@9&+/<])8$+*]dJRgd
-$9/-'*Y/@9&+/<];/;<*.7()dLRfd-$&+&dLRfd.$%[*<)(&]![6AdE""dDgGLf]!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Mk!
J4M4LL!6/+(9&%$%!*=!fRed-$8&(9*Y/d0R0d.$%[Md8&(9*Y/@9&+/<])+$<$+&!4444444444444444444444444444444444444444444444444444444444444444444444444444!Mi!
J4M4LJ!6/+(9&%$%!*=!ed[.$%[Md9/-'*Y/@9&+/<])8$+*].&+Z&+&dLRfd-$*<!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Mi!
J4M4Lf!6/+(9&%$%!*=!JRMd.$%[Md[.$%[Md9/-'*Y/@9&+/<])8$+*]dJRgd-$9/-'*Y/@9&+/<];/;<*.7()dLRfd-$&+&dLRfd.$%[*<)(&]![6AdE""dCG]!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!eK!
J4M4LM!6/+(9&%$%!*=!0R0d.$%[fRed.$%[('$=<7*'*8&(9/<]@9&+/<]dfRed-$8&(9*Y/)+$<$+&!444444444444444444444444444444444444444444444444444444444444444444444444444444444!eL!
J4M4Le!6/+(9&%$%!*=!ed[.$%[fRed.$%[('$=<7*'*8&(9/<]@9&+/<])8$+*].&+Z&+&dLRfd-$*<!44444444444444444!eL!
J4M4Lg!6/+(9&%$%!*=!JRMd.$%[Md[.$%[fRed.$%[('$=<7*'*8&(9/<]@9&+/<])8$+*]dJRgd-$9/-'*Y/@9&+/<];/;<*.7()dLRfd-$&+&dLRfd.$%[*<)(&]![6AdE""dDFf]!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!eJ!
J4M4Lh!6*<7($*+!)+-!E9$+!F$<8!".%*'.)+;&!44444444444444444444444444444444444444444444444444444!ef!J4M4Lk!D/;<$;!`*<()88&('/!)+-!2+&'B/!5&?&<!2%($8)($*+!444444444444444444444444!ef!J4M4Li!E9$+!F$<8!E')+%$%(*'!F).'$;)($*+!)+-!3&)%7'&8&+(%!44444444444444444!ef!J4M4JK!,9*(*?*<()$;!F).'$;)($*+!)+-!3&)%7'&8&+(%!4444444444444444444444444444444444!eM!
!J4e!1&=&'&+;&%!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gK!
!
f4! 2FF2DE!CF!"DD2,EC1!6E120:EG!C0!V2ECDI"0H02!#I26!44444444444444444444444444444!gf!
Y$$!
f4L!H+('*-7;($*+!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gf!f4J!1&%7<(%!)+-!#$%;7%%$*+!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gg!
!f4J4L!3*<&;7<)'!#&%$B+!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gg!f4J4J!".%*'.)+;&!,'*@&'($&%!444444444444444444444444444444444444444444444444444444444444444444444444444444444!hK!f4J4f!07;<&)'!3)B+&($;!1&%*+)+;&!6(7-$&%!4444444444444444444444444444444444444444444444444444!hJ!f4J4M!F$&<-!2==&;(!E')+%$%(*'!3&)%7'&8&+(%!44444444444444444444444444444444444444444444444444!hg!
!f4f!6788)'/!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!hh!f!4M!2Y@&'$8&+()<!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!hk!
!f4M4L!6/+(9&%$%!*=!fRgd-$.'*8*@9&+)+(9'&+&diRLKd-$*+&!44444444444444444444444!hk!f4M4J!6/+(9&%$%!*=!fRgd-$.'*8*diGd=<7*'&+did*+&!44444444444444444444444444444444444444!hk!f4M4f!6/+(9&%$%!*=!fRgd.$%[-$@9&+/<)8$+*]diGd=<7*'&+did*+&!
[#""dF<]!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!hi!f4M4M!6/+(9&%$%!*=!Jd[fRgd.$%[-$@9&+/<)8$+*]diGd=<7*'&+did
/<$-&+&]8)<*+*+$('$<&![#""dF<dD0]!4444444444444444444444444444444444444444444444444444!kK!f4M4e!6/+(9&%$%!*=!ed[fRgd.$%[-$@9&+/<)8$+*]diGd=<7*'&+did
/<$-&+&]dLRfd-$8&(9/<@/'$8$-$+&dJRMRg[LGRfGReG]d('$*+&![#""dF<dgC]!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444!kK!
f4M4g!6/+(9&%$%!*=!ed[fRgd.$%[-$@9&+/<)8$+*]diGd=<7*'&+did/<$-&+&]dLRfd-$&(9/<dJd(9$*Y*-$9/-'*@/'$8$-$+&dMRg[LGReG]d-$*+&![#""dF<dg6]!44444444444444444444444444444444444444444444444444444444444444!kL!
f4M4h!6/+(9&%$%!*=!Jd[fRgd.$%[-$@9&+/<)8$+*]diGd=<7*'&+did/<$-&+&]dLGd$+-&+&dLRf[JG]d-$*+&![#""dF<dH+]!4444444444444444444444444444!kJ!
f4M4k!6/+(9&%$%!*=!Md[fRgd.$%[-$@9&+/<)8$+*]diGd=<7*'&+did/<$-&+&]dfd@9&+/<$%*Y)Z*<de[MG]d*+&![#""dF<d,H]!4444444444444444444444!kf!
f4M4i!6*<7($*+!".%*'.)+;&!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444!kf!f4M4LK!E9$+!F$<8!E')+%$%(*'!F).'$;)($*+!)+-!3&)%7'&8&+(%!44444444444444444!kM!f4e!1&=&'&+;&%!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!iK!
!
M4! #C0C1!"DD2,EC1!6I6E236!"6!6206HEH^216!FC1!S5CDV!DC,C5I321!,GCEC`C5E"HD6!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!iM!
!M4L!H+('*-7;($*+!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!iM!M4J!1&%7<(%!)+-!#$%;7%%$*+!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!ig!
!M4J4L!3*<&;7<)'!#&%$B+!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!ig!M4J4J!".%*'.)+;&!,'*@&'($&%!4444444444444444444444444444444444444444444444444444444444444444444444444444444!LKJ!M4J4f!2<&;('*;9&8$;)<!,'*@&'($&%!4444444444444444444444444444444444444444444444444444444444444444444444!LKf!M4J4M!#&%$B+!17<&%!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LKh!
!M4f!6788)'/!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LKk!M4M!2Y@&'$8&+()<!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LKk!
!
Y$$$!
M4M4L!6/+(9&%$%!*=!JRid.$%[Jd&(9/<9&Y/<]ded[Md9&Y/<dMGd-$(9$&+*lfRJd.OJmRfmd-n@/''*<dJd/<])+(9')lJRLRid-&=OgReRLKd-m&m=mn-$$%*A7$+*<$+&dLRfRkRLK[JGRiG]d(&(')*+&![#E,d,#H]!4444444444444444444444444444444444444444444444444444444444444444444444444444444444!LKi!
M4M4J!6/+(9&%$%!*=!Jd.7(/<dgd[iGd;)'.)Z*<did/<]dLGd.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&![DS^d0H]!4444444444444444444444444!LLK!
M4M4f!6/+(9&%$%!*=!Jd.7(/<dgd[JRfd-$9/-'*(9$&+*lfRMd.nlLRMn-$*Y$+ded/<]dLGd.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&![2#CEd0H]!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LLL!
M4M4M!6/+(9&%$%!*=!Jd.7(/<dgd[Md[Md9&Y/<@9&+/<]dMGd-$(9$&+*lfRJd.OJmRfmd-n@/''*<dJd/<]dLGd.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&![#E,d0H]!4444444444444444444444444!LLJ!
M4M4e!6/+(9&%$%!*=!Jd.7(/<dgd[[id9&Y/<diGd;)'.)Z*<dfd/<]&(9/+/<]dLGd.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&![DS^d)d0H]!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LLf!
M4M4g!6/+(9&%$%!*=!JRhd.$%[Jd&(9/<9&Y/<]dMRid.$%[[id9&Y/<diGd;)'.)Z*<dfd/<]&(9/+/<].&+Z*l<8+nlfRkn@9&+)+(9'*<$+&dLRfRgRk[JGRhG]d(&(')*+&![DS^d)d0#Hd)dDS^]!44444444444444444444444444444444!LLM!
M4M4Lh!".%*'.)+;&!3&)%7'&8&+(%!4444444444444444444444444444444444444444444444444444444444444444444!LLM!M4M4Lk!D/;<$;!`*<()88&('/!)+-!2+&'B/!5&?&<!2%($8)($*+!4444444444444444444444!LLe!
!M4e!1&=&'&+;&%!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LJJ!
!
e4! 6>33"1I!"0#!F>E>12!#H12DEHC06!4444444444444444444444444444444444444444444444444444444444444444444444444!LJh!
e4L!6788)'/!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LJh!e4J!F7(7'&!#$'&;($*+%!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LJi!
!e4J4L!6A7)')$+&!#/&%!=*'!C'B)+$;!,9*(*?*<()$;%!4444444444444444444444444444444444444444!LJi!e4J4J!V&(*;/)+$+&!#/&%!=*'!C'B)+$;!,9*(*?*<()$;%!444444444444444444444444444444444444!LfK!e4J4f!6&+%$($Z&-!S<*;Q!D*@*</8&'%!=*'!C'B)+$;!,9*(*?*<()$;%!4444444444444!LfL!
!e4f!1&=&'&+;&%!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LfJ!
!
",,20#HoO!2FF2DE!CF!EHE"0H>3!CoH#2p,C5I6EI1202!0"0CDC3,C6HE2!#H252DE1HD6!C0!3C1,GC5C:I!"0#!EGH0!FH53!E1"06H6EC1!,21FC13"0D2!FC1!C1:"0HD!"0#!,C5I321HD!623HDC0#>DEC16!444444444444444444444444!Lfh!!
SHS5HC:1",GI!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LeJ!
!
Y$?!
4$#*',-'*(74"#'
E).<&! ,)B&!!
J4LO!"?&')B&!9*<&!8*.$<$($&%!)+-!%()+-)'-!-&?$)($*+%!*=!6AdE""dCG!EFE%!T$(9!?)'/$+B!;9)++&<!<&+B(9%!44444444444444444444444444444444444444444444444444444444444444444444444444444!fM!
J4JO!"?&')B&!9*<&!8*.$<$($&%!)+-!%()+-)'-!-&?$)($*+%!*=!6AdE""dDgGLf!EFE%!T$(9!?)'/$+B!;9)++&<!<&+B(94!!E9&!8*.$<$(/!$+;'&)%&-!T$(9!)++&)<$+B!;*+=$'8$+B!(9&!$+;'&)%&!$+!*'B)+$Z)($*+!(9)(!T)%!%&&+!$+!(9&!)++&)<&-!(9$+!=$<8!).%*'.)+;&!44444444444444444444444444444444444444444444444444!fe!
J4fO!"?&')B&!9*<&!8*.$<$($&%!)+-!%()+-)'-!-&?$)($*+%!*=!6AdE""dG!EFE%!T$(9!?)'/$+B!;9)++&<!<&+B(9!4444444444444444444444444444444444444444444444444444444444444444444444444444444!fg!
J4MO!"?&')B&!)]!9*<&!)+-!.]!&<&;('*+!8*.$<$($&%!)+-!%()+-)'-!-&?$)($*+%!*=!6AdE""dF!EFE%!T$(9!?)'/$+B!;9)++&<!<&+B(94!!H(!9)%!.&&+!%9*T+!$+!<$(&')(7'&!(9)(!$+%()<<$+B!=<7*'$+&!B'*7@%!*+(*!)!@d(/@&!%&8$;*+-7;(*'!*=(&+!'&%7<(%!$+!)8.$@*<)'!*'!&<&;('*+!(')+%@*'(!.&9)?$*'!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!fg!
J4eO!"?&')B&!&<&;('*+!8*.$<$($&%!)+-!%()+-)'-!-&?$)($*+%!*=!6AdE""dDFf!EFE%!T$(9!?)'/$+B!;9)++&<!<&+B(9!4444444444444444444444444444444444444444444444444444444444444444444!fh!
J4gO!6788)'/!*=!(9&!@)')8&(&'%!*=!(9&!.$<)/&'!C,`!-&?$;&%4!!H(!;)+!.&!%&&+!(9)(!(9&!&==$;$&+;/!*=!6AdE""dG!$%!(9&!9$B9&%(4!!E9&!<*T&%(!`CD!$%!=*'!6AdE""dCG!T9$;9!$%!&Y@&;(&-!='*8!(9&!GC3C!&+&'B/!<&?&<!44444444!MK!
f4LO!6788)'/!*=!(9&!).%*'.)+;&!-)()4!!H(!;)+!.&!%&&+!(9)(!)%!(9&!;9)'B&!%&@)')(&-!%('7;(7'&!$%!%().$<$Z&-R!(9&!-$==&'&+;&!.&(T&&+!(9&!q8)Y!*=!(9&!rdrs!)+-!DE!@&)Q%!$+;'&)%&%!4444444444444444444444444444444444444444444444444444444!hJ!
f4JO!031!@&)Q%!=*'!(9&!=<7*'&+*+&!@'*(*+%!*=!(9&!Q&(*;/)+$+&!-/&%4!!,&)Q!L!%9$=(%!-*T+!=$&<-!T$(9!$+;'&)%$+B!);;&@(*'!%('&+B(9R!T9$<&!@&)Q%!J!)+-!M!%9$=(!7@=$&<-!4444444444444444444444444444444444444444444444444444444444444444444444444444444444!hf!
f4fO!3)Y$878!8*.$<$(/!*=!&);9!-/&!-&(&'8$+&-!7%$+B!.*((*8!;*+();(!F2E!;*+=$B7')($*+4!!"<<!-/&%!%9*T!9*<&!8*.$<$(/R!T9$<&!#""dF<d,H!%9*T%!)8.$@*<)'!;9)'B&!(')+%@*'(!44444444444444444444444444444444444444444444444444444444444444444!hh!!
M4LO!6788)'/!*=!(9&!).%*'.)+;&!@'*@&'($&%!*=!(9&!#d"!%/%(&8%!)+-!(9&$'!@)'&+(!-*+*'!)+-!);;&@(*'!8*$&($&%!444444444444444444444444444444444444444444444444444444444444!LKf!
"4LO!E9&!%7'=);&!'*7B9+&%%!)+-!;*+();(!)+B<&!*=!(9&!+)+*;*8@*%$(&!=$<8%!'&8)$+%!;*+%()+(!);'*%%!(9&!&+($'&!')+B&!*=!.<&+-%!%(7-$&-!4444444444444!LMK!
Y?!
4$#*',-'-$%8."#'
F$B7'&! ,)B&!!
L4LO!"!%788)'/!*=!(9&!.&%(!'&@*'(&-!&==$;$&+;$&%!*=!?)'$*7%!(/@&%!*=!@9*(*?*<()$;!-&?$;&%4!!D'/%()<<$+&!%$<$;*+!$%!%9*T+!$+!.<7&4!!C,`%!;)+!.&!%&&+!$+!(9&!.*((*8!'$B9(!;*'+&'!$+!'&-!44444444444444444444444444444444444!f!
L4JO!E9&!%*<)'!$'')-$)+;&!%@&;('78!;*?&'%!)!<)'B&!')+B&!*=!T)?&<&+B(9!.7(!T&$B9%!9&)?$</!$+!(9&!MKK!+8!p!LLKK!+8!')+B&4!!C'B)+$;!8*<&;7<&%!;)+!.&!(7+&-!$+!*'-&'!(*!).%*'.!<$B9(!$+!(9$%!'&B$*+!4444444444444!M!
L4fO!E9&!(T*!'&%*+)+;&!=*'8%R!%9*T+!*+!(9&!<&=(!)+-!'$B9(R!)'&!$-&+($;)<!$+!%('7;(7'&!8$+$8$Z$+B!(9&!&+&'B/!-$==&'&+;&!.&(T&&+!(9&!(T*!)+-!8$+$8$Z$+B!(9&!.*+-!<&+B(9!)<(&'+)($*+!4444444444444444444444444444444444444444444444444!e!
L4MO!69*T%!(9&!-$%%*;$)($*+!*=!(9&!&Y;$(*+!=*'8&-!$+!(9&!-*+*'!8)(&'$)<4!!G&'&!(9&!&<&;('*+!$+!(9&!5>3C!*=!(9&!&Y;$(&-!%()(&!-*+*'!$%!(')+%=&''&-!(*!(9&!5>3C!*=!(9&!);;&@(*'!)%!<*+B!)%!(9&!&+&'B/!<&?&<!-$==&'&+;&!.&(T&&+!(9&!(T*!5>3C%!$%!)(!<&)%(!K4f!&`!444444444444444444444444!! g!
L4eO!E/@$;)<!Xd`!;9)');(&'$%($;%!*=!)+!C,`4!!E9&!;'$($;)<!-&?$;&!@)')8&(&'%![`CDR!X6DR!`8@@R!)+-!X8@@]!)'&!@*$+(&-!*7(4!!E9&!FF!$%!&A7)<!(*!(9&!')($*!*=!(9&!B'&/!%A7)'&!(*!(9&!%A7)'&!8)-&!./!(9&!-*((&-!<$+&!4444444444444!k!
L4gO!6;9&8)($;!'&@'&%&+()($*+!*=!)!SGX!C,`4!!E9&!SGX!)';9$(&;(7'&!@'*?$-&%!B'&)(&'!$+(&'=);$)<!)'&)!=*'!(9&!-$%%*;$)($*+!*=!&Y;$(*+%!T$(9$+!(9&!&Y;$(*+!-$==7%$*+!-$%()+;&!!444444444444444444444444444444444444444444!LK!
L4hO!D9&8$;)<!%('7;(7'&%!*=!%*8&!*=!(9&!.&((&'!@&'=*'8$+B!@*</8&'!C,`%!(*!-)(&4!!,fGE!%9*T%!&==$;$&+;$&%!)'*7+-!et4!!E9&%&!-*+*'!);;&@(*'!@*</8&'%!)<<!%9*T!&==$;$&+;$&%!).*7(!g4kt!444444444444444444444444444444!LL!
L4kO!1&;&+(!@'*B'&%%!$+!%8)<<!8*<&;7<&!C,`%!9)?&!'&%7<(&-!$+!A7$;Q</!'$%$+B!&==$;$&+;$&%!+&)'$+B!(9*%&!*=!@*</8&'!C,`%!!4444444444444444444444444444444444!Lf!
L4iO!68)<<!8*<&;7<&%!T9$;9!%9*T!9$B9!&==$;$&+;$&%4!!E9&!=$'%(!'*T!$%!-/&%!)+-!(9&!.*((*8!(T*!'*T%!)'&!#d"!%/%(&8%4!!"<<!%9*T!,D2!).*7(!gt4!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LM!
J4LO!5*T!.)+-B)@!8)(&'$)<%!*==&'!&+9)+;&-!<$B9(!).%*'@($*+!=*'!*'B)+$;!@9*(*?*<()$;%!-&?$;&%4!!1)$%$+B!(9&!GC3C!*=!(9&!;9'*8*@9*'&!T*7<-!;*8@'*8$%&!(9&!`CD!*=!(9&!'&%7<($+B!-&?$;&4!!E9&!5>3C!;)+!*+</!.&!<*T&'&-!(*!K4f!&`!).*?&!(9&!5>3C!*=!(9&!);;&@(*'!(*!)<<*T!=*'!&Y;$(*+!-$%%*;$)($*+4!!2+&'B/!<&?&<!(7+$+B!$%!&%%&+($)<!=*'!(9&!*@($8$Z)($*+!*=!C,`%!4444444444444444444444444444444444444444444444444444444444!Jf!
Y?$!
J4JO!3*<&;7<)'!-&%$B+!*=!%A7)')$+&!-/&%!T$(9!(7+).<&!.)+-B)@%!)+-!GC3C!&+&'B/!<&?&<%4!!6AdE""dG!*==&'%!)!;*+('*<!8*<&;7<&!=*'!'&=&'&+;&4!!6AdE""dDgGLf!)+-!6AdE""dCG!)'&!%A7)')$+&!-/&%!T$(9!$+;'&)%$+B!&<&;('*+!-*+*'!%('&+B(94!!6AdE""dF!)+-!6AdE""dDFf!)'&!%A7)')$+&!-/&%!T$(9!$+;'&)%$+B!&<&;('*+!T$(9-')T$+B!%('&+B(9!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Je!
J4fO!6*<7($*+!).%*'.)+;&!%@&;(')!*=!(9&!%A7)')$+&!-/&%!$+!#D34!!E9&!%@&;(')!)'&!@<*((&-!T$(9!'&%@&;(!(*!8*<)'!).%*'@($?$(/!(*!$+-$;)(&!(9&!&Y($+;($*+!;*&==$;$&+(!*=!&);9!-/&4!!H(!;)+!.&!%&&+!(9)(!)%!(9&!&<&;('*+!-*+)($*+!;9)');(&'!*=!(9&!-/&!$%!$+;'&)%&-R!(9&!).%*'.)+;&!'&-!%9$=(%!444444444444444444444444444444444444444444444444444444444444444444444444444444444444!Ji!
J4MO!6*<7($*+!).%*'.)+;&!%@&;(')!*=!(9&!%A7)')$+&!-/&%!$+!EGF4!!H(!;)+!.&!%&&+!(9)(!)!9$B9!&+&'B/!@&)Q!&8&'B&%!)%!)!'&%7<(!*=!(9&!%*<?&+(!9/-'*B&+!.*+-$+B!T$(9!(9&!-/&!)+-!;)7%$+B!)!.'&)Q!$+!(9&!;*+W7B)($*+!-7&!(*!(9&!(T$%(!$+!(9&!.);Q.*+&!44444444444444444444444444444444444444444444!fK!
J4eO!E9$+!=$<8!).%*'.)+;&!*=!(9&!%A7)')$+&!-/&%!)'&!'&-!%9$=(&-!)+-!.'*)-&+&-!)%!;*8@)'&-!(*!(9&!%*<7($*+!).%*'.)+;&!!44444444444444444444444444444!fL!
J4gO!"++&)<$+B!(9&!=$<8%!-*!+*(!)@@&)'!(*!9)?&!)+/!8)W*'!&==&;(!*+!(9&!).%*'.)+;&!T$(9!(9&!&Y;&@($*+!*=!6AdE""dDgGLf4!!_9&+!6AdE""dDgGLf!$%!)++&)<&-!)!<*T!&+&'B/!@&)Q!&8&'B&%!)(!).*7(!kKK!+84!!E9$%!%7BB&%(%!=7'(9&'!*'B)+$Z)($*+!*=!(9&!=$<8!7@*+!(9&'8)<!)++&)<$+B!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!fJ!
J4hO!GC3C!)+-!5>3C!&+&'B/!<&?&<%!*=!(9&!%A7)')$+&!-/&%!;)<;7<)(&-!&<&;('*;9&8$;)<</4!!5>3C!*=!DFf!$%!&%($8)(&-!='*8!(9&!*@($;)<!.)+-B)@4!!E9&!.)+-B)@!$%!(7+&-!./!?)'$)($*+%!$+!(9&!GC3C!&+&'B/!<&?&<%R!T9$<&!(9&!5>3C!&+&'B/!<&?&<%!'&8)$+!'&<)($?&</!;*+%()+(!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!ff!
J4kO!GC3C!)+-!5>3C!&+&'B/!<&?&<%!*=!6AdE""dCG!)+-!6AdE""dDFf!)%!-&(&'8$+&-!(9&*'&($;)<</!./!#FE!7%$+B!:)7%%$)+!Ki!T$(9!Sf5I,!<&?&<!*=!(9&*'/!)+-!gdfLLB[-R!@]!.)%$%!%&(!4444444444444444444444444444444444444!fk!
!J4iO!Xd`!;7'?&%!*=!.$<)/&'!C,`!-&?$;&%!*=!)]!6AdE""dCGR!.]!6AdE""dGR!)+-!
;]!6AdE""dF!T$(9!,DS3!!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!fi!
J4LKO!Xd`!;7'?&!*=!6AdE""dCGO!,DhLS3!.7<Q!9&(&'*W7+;($*+!-&?$;&4!!C@($8$Z&-!&==$;$&+;/!$%!)!'&%7<(!*=!)!8$Y&-!%*<?&+(!%/%(&8![EGFO!DSR!hKOfK]!)+-!%*<?&+(!)--$($?&![#HCR!K4M!?*<t]!444444444444444444444444444444444444444!MK!
Y?$$!
f4LO!:&+&'$;!%('7;(7'&!*=!;/)+$+&!-/&4!!E9&!*--!+78.&'!*=!8&(9$+&!B'*7@%!)<<*T!=*'!'&%*+)+;&!%().$<$Z)($*+!.&(T&&+!(9&!)8$+&!)+-!(9&!$8$+$78!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gf!
f4JO!:&+&'$;!%('7;(7'&!*=!8&'*;/)+$+&!-/&4!!3&'*;/)+$+&!-/&%!)'&!)%/88&('$;!;9)'B&!+&7(')<!)+-!;*+%$%(!*=!)!+$('*B&+!-*+*'!)+-!)+!*Y/B&+!);;&@(*'!;*++&;(&-!(9'*7B9!)!@*</&(9/<&+&!;9)$+!444444444444!gM!
f4fO!:&+&'$;!%('7;(7'&!*=!Q&(*;/)+$+&!-/&4!!V&(*;/)+$+&!-/&%!9)?&!)!%/88&('$;!;9)'B&!+&7(')<!%('7;(7'&R!T9&'&!(9&!(T*!+$('*B&+%!*+</!;*887+$;)(&!$+!(9&!;9)'B&!%&@)')(&-!'&%*+)+;&!%('7;(7'&!444444!ge!
f4MO!6('7;(7'&%!*=!;/)+$+&!-/&%!%7;;&%%=7<</!7%&-!$+!(9&!);($?&!<)/&'!*=!C,`%!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!ge!
f4eO!1&%*+)+;&!%('7;(7'&%!*=!Q&(*;/)+$+&!-/&%4!!H+!(9&!B'*7+-!%()(&!(9&!(T*!)8$+&%!)'&!+*(!$+!&<&;('*+$;!;*887+$;)($*+4!!H+!(9&!;9)'B&!%&@)')(&-!%()(&!(9&!(T*!)8$+&%!)'&!)<<*T&-!(*!;*887+$;)(&!T$(9!&);9!*(9&'!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gg!
f4gO!D9&8$;)<!%('7;(7'&%!*=!(9&!Q&(*;/)+$+&!-/&%!'&@*'(&-!$+!(9$%!;9)@(&'4!!E9&!);;&@(*'!%('&+B(9!$%!(7+&-!T9$<&!(9&!)8$+&!@*'($*+!*=!(9&!-/&%!'&8)$+%!;*+%()+(!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gh!
f4hO!".%*'.)+;&!%@&;(')!*=!(9&!Q&(*;/)+$+&!-/&%4!!E9&!).%*'.)+;&%!*=!(9&!-/&%!)'&!'&-!%9$=(&-!)%!(9&!);;&@(*'!%('&+B(9!$+;'&)%&%!%7BB&%($+B!(9)(!(9&!;/)+$+&!=*'8!$%!8*'&!%().$<$Z&-!./!(9&!%('*+B&'!);;&@(*'%!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!hK!
f4kO!H8)B&!*=!Q&(*;/)+$+&!-/&!%*<7($*+%!$+!#D34!2);9!-/&!%('7;(7'&!$%!;*<*'!8)(;9&-!(*!(9&!'&@'&%&+()($?&!-/&!%*<7($*+4!E9&!;*<*'!;9)+B&!*=!(9&!-/&%!;)+!.&!%&&+!./!(9&!+)Q&-!&/&!4444444444444444444444444444444444444!hJ!
f4iO!LG!031!*=!#""dF<dgC!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!hf!
f4LKO!1&%*+)+;&!%('7;(7'&%!;)+!.&!7%&-!(*!&Y@<)$+!(9&!('&+-%!%&&+!$+!(9&!0314!!E9&!;)'.*+%!(9)(!9)?&!)!+&B)($?&!;9)'B&!$+!(9&!%9*T+!'&%*+)+;&!=*'8%!)'&!7@=$&<-!%9$=(&-R!T9$<&!(9&!*+&!T$(9!)!@*%$($?&!;9)'B&!$%!-*T+=$&<-!%9$=(&-!444444444444444444444444444444444444444444444444444444444444444!hM!
f4LLO!D*8@)'$%*+!*=!LG!031!*=!#""dF<dgC!)+-!#""dF<d,H!444444444444444444444444444444444444444!he!
!f4LJO!D9&8$;)<!%('7;(7'&!*=!(9&!;9)'B&!%&@)')(&-!%()(&!*=!#""dF<d,H!44444444444444444444!he!!
Y?$$$!
f4LfO!GC3C!&+&'B/!<&?&<%!*=!#""dF<dgC!)+-!#""dF<d,H!)%!;)<;7<)(&-!='*8!#FE!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!hg!
M4LO!6;9&8)($;!'&@'&%&+()($*+!*=!)!-*+*'d);;&@(*'!.<*;Q!;*@*</8&'!<$+Q&-!(9'*7B9!)!#d"!%&+%$($Z&'!=*'!$8@'*?&-!<$B9(!9)'?&%($+B4!!E9&!%/%(&8!'&A7$'&%!%@&;$=$;!&+&'B/!<&?&<!)<$B+8&+(!(*!);9$&?&!&==$;$&+(!&Y;$(*+!-$%%*;$)($*+!44444444444444444444444444444444444444444444444444444444444444444444444444444!ih!
M4JO!3*<&;7<)'!-&%$B+%!*=!%8)<<!8*<&;7<&!#d"!%/%(&8%!)%!%&+%$($Z&'%!=*'!.<*;Q!;*@*</8&'%!!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!ik!
M4fO!2+&'B/!<&?&<%!*=!#E,R!#E,d,#HR!)+-!,#H4!!#E,d,#H!9)%!)!<*T&'!.)+-B)@!(9)+!&$(9&'!*=!(9&!@)'&+(!8*<&;7<&%4!!E9&!GC3C!&+&'B/!<&?&<%!)<$B+!)@@'*@'$)(&</!.7(!(9&!5>3C!*=!#E,d,#H!$%!<*T&'!(9)+!,#H!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LKM!
M4MO!2+&'B/!<&?&<%!*=!DS^R!DS^d0HR!)+-!0H4!!DS^d0H!9)%!)!<*T&'!.)+-B)@!(9)+!&$(9&'!*=!(9&!@)'&+(!8*<&;7<&%4!!E9&!GC3C!&+&'B/!<&?&<%!)<$B+!)@@'*@'$)(&</!.7(!(9&!5>3C!*=!DS^d0H!$%!<*T&'!(9)+!0H!!444444444!LKe!
M4eO!2+&'B/!<&?&<%!*=!2#CER!2#CEd0HR!)+-!0H4!!2#CE!9)%!)!<*T&'!.)+-B)@!(9)+!2#CEd0H4!!E9&!&+&'B/!<&?&<%!)<$B+!)@@'*@'$)(&</!!444444444444444444444444!LKe!
M4gO!2+&'B/!<&?&<%!*=!#E,R!#E,d0HR!)+-!0H4!!#E,d0H!9)%!.)+-B)@!%$8$<)'!(*!#E,4!!E9&!GC3C!<&?&<%!)<$B+!)@@'*@'$)(&</!!444444444444444444444444444444444444444444444!LKg!
M4hO!2+&'B/!<&?&<%!*=!DS^R!DS^d)d0HR!)+-!0H4!!DS^d)d0H!9)%!)!<*T&'!.)+-B)@!(9)+!&$(9&'!*=!(9&!@)'&+(!8*<&;7<&%4!!E9&!GC3C!&+&'B/!<&?&<%!)<$B+!)@@'*@'$)(&</!.7(!(9&!5>3C!*=!DS^d)d,0H!$%!<*T&'!(9)+!0H!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LKg!
M4kO!2+&'B/!<&?&<%!*=!DS^R!DS^d)d0#Hd)dDS^R!)+-!0#H4!!DS^d)d0#Hd)dDS^!9)%!)!<*T&'!.)+-B)@!(9)+!&$(9&'!*=!(9&!@)'&+(!8*<&;7<&%4!!E9&!GC3C!&+&'B/!<&?&<%!)<$B+!)@@'*@'$)(&</!.7(!(9&!5>3C!*=!DS^d)d0#Hd)dDS^!$%!<*T&'!(9)+!0#H!44444444444444444444444444444444444444444444444444444444444444444444444!LKh!
e4LO!D'*;*+$78!-/&!@*</8&'%!T$(9!@/''*<&!)+-!-$(9$&+*@/''*<&!);;&@(*'%4!!E9&!).%*'.)+;&!*=!(9&%&!-/&%!)'&!%$B+$=$;)+(</!.'*)-&+&-!)+-!'&-!%9$=(&-!T$(9!).%*'.)+;&%!'&);9$+B!$+(*!(9&!0H1!!4444444444444444444444444444!LfK!
e4JO!SC#H,I!-/&!%&+%$($Z&-!.<*;Q!;*@*</8&'!!4444444444444444444444444444444444444444444444444444444444444444!LfJ!
!
!
Y$Y!
"4LO!6;9&8)($;!'&@'&%&+()($*+!*=!(9&!E$CJd,6!+)+*;*8@*%$(&u!!)]!'&@'&%&+(%!(9&!;*'&d%9&<<!)@@'*);9!()Q&+!=*'!=<&Y$.<&!-$&<&;('$;%!T$(9!9$B9!-$&<&;('$;!;*+%()+(%u!.]!(9&!@*</%(/'&+&!%9&<<!$%!;*?)<&+(</!)(();9&-!(*!(9&!E$CJ!+)+*'*-!(9'*7B9!)!<$B)+-!&Y;9)+B&!'&);($*+!.&(T&&+!)!@9*%@9*+)(&!(&'8$+)(&-!@*</8&'!;9)$+!)+-!)!*<&$;!);$-!;*)(&-!+)+*'*-!444444444444444444444444444444444444444444444444444444444!Lfk!
"4JO!)]!6;9&8)($;!'&@'&%&+()($*+!*=!(9&!.<&+-$+B!*=!(9&!E$CJd,6!+)+*;*8@*%$(&!T$(9!(9&!,6!8)('$Y!'&%7<($+B!$+!(9&!(7+$+B!*=!(9&!-$&<&;('$;!;*+%()+(!*=!(9&!'&%7<($+B!=$<8u!.]!(9&!-$&<&;('$;!;*+%()+(!*=!(9&!'&%7<($+B!=$<8%!$+;'&)%&%!T$(9!$+;'&)%$+B!;*+;&+(')($*+!*=!(9&!E$CJd,6!+)+*;*8@*%$(&!444444444444444444444444444444444444444444!Lfi!
"4fO!)]!D9&8$;)<!%('7;(7'&!*=!@&+();&+&R!)!;'/%()<<$+&!%8)<<!8*<&;7<&!%&8$;*+-7;(*'u!.]!(9&!8*.$<$(/!*=!(9&!@&+();&+&!-&?$;&%!$+;'&)%&%!T$(9!$+;'&)%$+B!-$&<&;('$;!;*+%()+(!444444444444444444444444444444444444444444!LMK!
"4MO!"F3!$8)B&%!*=!(9&!@&+();&+&!=$<8%!*+!-$==&'&+(!-$&<&;('$;!=$<8%!T$(9!?)'$*7%!;*+;&+(')($*+!*=!E$CJd,6!+)+*;*8@*%$(&!4444444444444444444444444444444444!LML!
"4eO!)]!D9&8$;)<!%('7;(7'&!*=!%&Y$(9$*@9&+&![vdgE]u!.]!-&?$;&!)';9$(&;(7'&!*=!(9&!(9$+!=$<8!(')+%$%(*'!4444444444444444444444444444444444444444444444444444444444444444444444444444444444!LML!
"4gO!E9&!8*.$<$(/!*=!(9&!vdgE!-&?$;&%!$+;'&)%&%!T$(9!$+;'&)%$+B!-$&<&;('$;!;*+%()+(!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LMJ!
"4hO!"F3!$8)B&%!*=!(9&!vdgE!=$<8%!*+!-$==&'&+(!-$&<&;('$;!=$<8%!T$(9!?)'$*7%!;*+;&+(')($*+!*=!E$CJd,6!+)+*;*8@*%$(&!4444444444444444444444444444444444!LMJ!
"4kO!F$<8!(')+%=&'!8&(9*-!=*'!(9&!=).'$;)($*+!*=!,fGE!(9$+!=$<8!(')+%$%(*'%4!!E9&!=$<8!(')+%=&'!8&(9*-!)<<*T%!=*'!(9&!%*<?&+(!='&&!-&@*%$($*+!*=!(9&!,fGE!=$<8!*+(*!(9&!+)+*;*8@*%$(&!-$&<&;('$;!44444444444444444444444444444!LMM!
"4iO!E9&!8*.$<$(/!*=!(9&!,fGE!-&?$;&%!*+!-$&<&;('$;!=$<8%!T$(9!$+;'&)%$+B!;*+;&+(')($*+%!*=!E$CJd,6!+)+*;*8@*%$(&!%9*T!+*!;*+%$%(&+(!('&+-!$+!8*.$<$(/!.*(9!)]!.&=*'&!)+-!.]!)=(&'!)++&)<$+B!4444444444444444444444!LMe!
"4LKO!"F3!$8)B&%!*=!(9&!,fGE!=$<8%!*+!-$==&'&+(!-$&<&;('$;!=$<8%!T$(9!?)'$*7%!;*+;&+(')($*+!*=!E$CJd,6!+)+*;*8@*%$(&!.*(9!.&=*'&!)+-!)=(&'!)++&)<$+B!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!LMe!
YY!
4$#*',-'#0+"2"#'
6;9&8&! ,)B&!!
J4LO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!6AdE""dG!44444444444444444444444444444444444444444444444444444444444444444444444!Jg!
J4JO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!6AdE""dCG!44444444444444444444444444444444444444444444444444444444444444444444!Jg!
J4fO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!6AdE""dDgGLf!444444444444444444444444444444444444444444444444444444444444444!Jh!
J4MO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!6AdE""dF!444444444444444444444444444444444444444444444444444444444444444444444444!Jk!
J4eO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!6AdE""dDFf!44444444444444444444444444444444444444444444444444444444444444444444!Jk!
f4LO!6/+(9&%$%!*=!#""dF<!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gk!
f4JO!6/+(9&%$%!*=!#""dF<dD0!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gk!
f4fO!6/+(9&%$%!*=!#""dF<dH+!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gi!
f4MO!6/+(9&%$%!*=!#""dF<dgC!44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gi!
f4eO!6/+(9&%$%!*=!#""dF<dg6!444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!gi!
f4gO!6/+(9&%$%!*=!#""dF<d,H!4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444!hK!
M4LO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!#E,d,#H!44444444444444444444444444444444444444444444444444444444444444444444444444!ii!
M4JO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!DS^d0H!44444444444444444444444444444444444444444444444444444444444444444444444444444!ii!
M4fO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!2#CEd0H!44444444444444444444444444444444444444444444444444444444444444444444444!LKK!
M4MO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!#E,d0H!444444444444444444444444444444444444444444444444444444444444444444444444444!LKK!
M4eO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!DS^d)d0H!44444444444444444444444444444444444444444444444444444444444444444444444!LKL!
M4gO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!DS^d)d0#Hd)dDS^!444444444444444444444444444444444444444444444444444444!LKJ
!
! L!
!!
0+(1*".'9'
!$&*.,!80*$,&'
9:9'1;<=<><?=@ABC'
! H(!9)%!.&&+!&%($8)(&-!(9)(!(9&!%7+!%7@@<$&%!8*'&!&+&'B/!(*!(9&!&)'(9!$+!*+&!
9*7'!)%!(9&!978)+!@*@7<)($*+!;)+!;*+%78&!$+!)!/&)'L4!!H=!&?&+!)!@*'($*+!*=!(9$%!%*<)'!
&+&'B/! ;)+! .&! 9)'?&%(&-R! (9&! -&@&+-&+;&! *+! =*%%$<! =7&<%! ;)+! .&! B'&)(</! '&-7;&-4!!
E9&'&=*'&R! $(! %9*7<-! ;*8&! )%! +*! %7'@'$%&! (9)(! @9*(*?*<()$;%! [,`%]! 9)?&! B)'+&'&-!
87;9! )((&+($*+! *?&'! (9&! @)%(! %&?&')<! /&)'%Jdk4! ! E9&! @9*(*?*<()$;! &==&;(! T)%! =$'%(!
'&@*'(&-!$+!LkifiR!9*T&?&'R!$(!T)%+U(!7+($<!LieM!(9)(!(9&!=$'%(!%$<$;*+!%*<)'!;&<<!T)%!
8)-&! T9$;9! %9*T&-! gt! &==$;$&+;/LK4! ! "! 8)W*'$(/! *=! (9&! %*<)'! ;&<<%! (9)(! )'&!
;*88&';$)<</! )?)$<).<&! )'&! 8)-&! *7(! *=! 9$B9</! ;'/%()<<$+&! %$<$;*+! )+-! &Y9$.$(!
&==$;$&+;$&%!+&)'!Jh4gtLL4! !#&%@$(&!%$<$;*+U%!;7''&+(!@*@7<)'$(/R!@9*(*?*<()$;%!.)%&-!
*+! 9$B9</! ;'/%()<<$+&! %$<$;*+! %7==&'! ='*8! 8)W*'! -')T.);Q%O! $]! -$==$;7<(! @'*;&%%$+B!
;*+-$($*+%!)+-!+&;&%%)'/!9$B9!@7'$(/!@'&?&+(! (9&! =).'$;)($*+!*=! <)'B&!)'&)!-&?$;&%!
)+-!)<%*!8)Q&!%$<$;*+d.)%&-!@9*(*?*<()$;%!&Y@&+%$?&LJu!$$]!<*T!).%*'@($*+!*=!%$<$;*+!
+&;&%%$()(&%!(9&!7%&!*=!(9$;Q!<)/&'%!$+!*'-&'!(*!).%*'.!%7+<$B9(!T9$;9!)<%*!$+;'&)%&%!
(9&!T&$B9(!*=! (9&!-&?$;&Lfu! $$$]! %$<$;*+!-*&%!+*(!)<<*T! =*'! (9&! =).'$;)($*+!*=! =<&Y$.<&!
-&?$;&%! <$8$($+B! (9&! 7%&! *=! @9*(*?*<()$;%! (*! =<)(! %7'=);&%! T9$;9! ;)+! T$(99*<-! (9&!
T&$B9(!*=!%7;9!-&?$;&%4!
! C'B)+$;! @9*(*?*<()$;%! [C,`%]! *==&'! )+! &Y;$($+B! )<(&'+)($?&! (*! %$<$;*+! %*<)'!
;&<<%4!!>+<$Q&!%$<$;*+d.)%&-!-&?$;&%R!C,`%!*==&'!(9&!@*(&+($)<!=*'!=).'$;)($+B!<*T!;*%(R!
!
! J!
<)'B&!)'&)R!<$B9(T&$B9(R!)+-!=<&Y$.<&!-&?$;&%k4!!C'B)+$;!@9*(*?*<()$;%!;)+!.&!%*<7($*+!
@'*;&%%&-! '&8*?$+B! (9&! +&&-! =*'! -$==$;7<(! )+-! &Y@&+%$?&! @'*;&%%$+B! (&;9+$A7&%4!!
E9$%! +*(! *+</! '&-7;&%! (9&! ;*%(! *=! =).'$;)($*+! *=! -&?$;&%R! .7(! )<%*! )<<*T%! =*'! (9&!
=).'$;)($*+! *=! <)'B&! )'&)! -&?$;&%4! ! E7+).<&! ).%*'.)+;&! )+-! 9$B9! &Y($+;($*+!
;*&==$;$&+(%! )<<*T! =*'! (9&! 7($<$Z)($*+! *=! %$B+$=$;)+(</! (9$++&'! =$<8%! )%! ;*8@)'&-! (*!
%$<$;*+R! T9$<&! '&()$+$+B! (9&! %)8&! <$B9(! ).%*'@($*+LM4! ! E9$++&'! =$<8%! )<%*! '&%7<(! $+!
=<&Y$.<&! );($?&! <)/&'%! )<<*T$+B! =*'! (9&!@*(&+($)<! *=! <$B9(T&$B9(! )+-! =<&Y$.<&!-&?$;&%4!!
#&%@$(&! (9&! 8)W*'! $+(&'&%(! $+! C,`%R! (9&! &==$;$&+;$&%! *=! %7;9! -&?$;&%! )'&! %($<<!
%$B+$=$;)+(</! <*T&'! (9)+! %$<$;*+d.)%&-! -&?$;&%4! ! "! ;9)'(! %9*T$+B! (9&! '&;*'-!
&==$;$&+;$&%!$+!&);9!;<)%%!*=!@9*(*?*<()$;%LL!$%!%9*T+!$+!F$B7'&!L4L4!
! H+!*'-&'! (*! $8@'*?&! (9&!&==$;$&+;$&%!*=!C,`%R!&);9!%(&@! $+! (9&!;*+?&'%$*+!*=!
%7+<$B9(! $+(*! &<&;('$;)<! ;7''&+(! 87%(! .&! 7+-&'%(**-! )+-! *@($8$Z&-4! ! 2?&'/! C,`!
'&A7$'&%! =*7'! %(&@%! $+! *'-&'! (*! ;*8@<&(&! (9$%! ;*+?&'%$*+LeO! ! $]! ).%*'@($*+! *=! <$B9(!
B&+&')($+B!&Y;$(*+%u! $$]!&Y;$(*+!-$%%*;$)($*+!'&%7<($+B! $+! ='&&!;9)'B&%u! $$$]! (')+%@*'(!
*=!='&&!;9)'B&%!(9'*7B9!(9&!);($?&!<)/&'!(*T)'-%!(9&$'!'&%@&;($?&!&<&;('*-&%u!)+-!$?]!
;9)'B&!;*<<&;($*+!)(!(9&!&<&;('*-&%4!!H+!(9&!+&Y(!%&;($*+%R!&);9!*=!(9&%&!@'*;&%%&%!T$<<!
.&!&Y@<*'&-4!
9:D'1E<BFCCFC'AG',EH@GAB'1;<=<><?=@ABC'
9:D:9'4AH;='+@E>FC=AGH'
!
!
! f!
! "<<! @9*(*?*<()$;! -&?$;&%! %()'(! T$(9! (9&! @'*;&%%! *=! <$B9(! ).%*'@($*+4! ! H+!
$+*'B)+$;!%*<)'!;&<<%R!(9&!).%*'@($*+!*=!%7+<$B9(!'&%7<(%!$+!(9&!$88&-$)(&!B&+&')($*+!
*=! ='&&! ;9)'B&! ;)''$&'%! -7&! (*! (9&! <)'B&'! -$&<&;('$;! ;*+%()+(! ;*8@)'&-! (*! *'B)+$;!
8)(&'$)<%4! ! E9$%! -$==&'%! ='*8! C,`%! $+! (9)(! ).%*'@($*+! *=! <$B9(! @'*-7;&%! )!
;*7<*8.$;)<</! .*7+-! &<&;('*+d9*<&! @)$'! '&=&''&-! (*! )%! )+! &Y;$(*+R!T9$;9! $%! ;9)'B&!
+&7(')<Lg4! ! C,`%! (/@$;)<</! ;*+%$%(! *=! ;*+W7B)(&-! 8)(&'$)<%! .&;)7%&! (9&/! -$%@<)/!
-&%$').<&! ).%*'@($*+! @'*=$<&%4! ! E9&! ).%*'.)+;&! *=! ;*+W7B)(&-!8*<&;7<&%! )'&! *=(&+!
$+(&+%&! )+-! .'*)-! )+-! &Y(&+-! $+(*! (9&! ?$%$.<&! )+-! +&)'! $+=')'&-! '&B$*+%LM4! ! E9$%!
@'*?$-&%!)+!&Y(&+%$?&!*?&'<)@!T$(9!(9&!%*<)'!%@&;('78R!%&&+!$+!F$B7'&!L4JR!)+-!T9&+!
;*7@<&-! T$(9! (9&! <)'B&! 8*<)'! ).%*'@($?$(/! *=! %7;9! 8*<&;7<&%R! )<<*T%! =*'! (9&!
7($<$Z)($*+!*=!(9$++&'!=$<8%![LKK!p!JKK!+8]4!!!
!!F$B7'&! L4LO! "! %788)'/! *=! (9&! .&%(! '&@*'(&-! &==$;$&+;$&%! *=! ?)'$*7%! (/@&%! *=!@9*(*?*<()$;!-&?$;&%4!!D'/%()<<$+&!%$<$;*+!$%!%9*T+!$+!.<7&4!!C,`%!;)+!.&!%&&+!$+!(9&!.*((*8!'$B9(!;*'+&'!$+!'&-LL4!
!
! M!
! !H+!*'-&'!(*! $8@'*?&!(9&! <$B9(!9)'?&%($+B!*=!@9*(*?*<()$;!-&?$;&%R!%$B+$=$;)+(!
&8@9)%$%!9)%!.&&+!@7(!*+!7($<$Z$+B!<*T!.)+-B)@!%8)<<!8*<&;7<&%!)+-!@*</8&'%LhdJf4!!
1&-7;$+B! (9&! .)+-B)@! *=! )! 8)(&'$)<! ;)+! .&! );9$&?&-! %$8@</! ./! &Y(&+-$+B! (9&!
;*+W7B)($*+! *=! (9&!8)(&'$)<JMdJg4! ! "+*(9&'! %(')(&B/! =*'! <*T&'$+B! (9&! .)+-B)@! $%! (*!
8$+$8$Z&! (9&! .*+-! <&+B(9! )<(&'+)($*+4! ! 3$+$8$Z$+B! (9&! &+&'B/! <&?&<! -$==&'&+;&!
.&(T&&+! (9&! .&+Z&+*$-! )+-! A7$+*$-! '&%*+)+;&! %('7;(7'&%! T$<<! '&%7<(! $+! )! <*T&'!
.)+-B)@JhRJk4! ! 6*8&!-/&%R! %7;9!)%! %A7)')$+&!-/&%R! &Y$%(! $+!)!@)'($)<!.&+Z&+*$-!)+-!
@)'($)<!A7$+*$-!=*'8R!%&&+!$+!F$B7'&!L4f4! !_9&+!(9&%&!8*<&;7<&%!)'&!%/88&('$;R!(9&!
.*+-! <&+B(9! )<(&')($*+! $%! )(! )! 8$+$878! @'*?$-$+B! )! <*T! .)+-B)@Ji4! ! 3$+$8$Z$+B!
.*+-!<&+B(9!)<(&'+)($*+!;)+!)<%*!.&!);9$&?&-!./!(9&!;9)'B&!%().$<$Z)($*+!(9)(!*;;7'%!
='*8! )<(&'+)($+B! -*+*'! )+-! );;&@(*'! 8*<&;7<&%! $+! )! %8)<<! 8*<&;7<&! *'!
@*</8&'LkRJLRfK4! !E9&!.)+-B)@!*=!%7;9!)!8*<&;7<&!;)+!*=(&+!.&!(7+&-!./!?)'/$+B!(9&!
-*+*'!)+-!);;&@(*'!%('&+B(9JJRfL4!
!
!!
F$B7'&!L4JO!E9&!%*<)'!$'')-$)+;&!%@&;('78!;*?&'%!)!<)'B&!')+B&!*=!T)?&<&+B(9!.7(!T&$B9%!9&)?$</!$+!(9&!MKK!+8!p!LLKK!+8!')+B&4!!C'B)+$;!8*<&;7<&%!;)+!.&!(7+&-!$+!*'-&'!(*!).%*'.!<$B9(!$+!(9$%!'&B$*+Mh4!
!
! e!
!
9:D:D'"IBA=<G'!AJJKCA<G'@GL'!ACC<BA@=A<G'
!! E9&!).%*'@($*+!*=! <$B9(! $+!C,`%!-*&%!+*(!@'*-7;&! ='&&!;9)'B&%!.7(!')(9&'!)!
;9)'B&!+&7(')<! &Y;$(*+4! ! H+! *'-&'! (*! B&+&')(&! ='&&! &<&;('*+%! )+-!9*<&%R! (9&! &Y;$(*+!
87%(! (')?&<! (*! )+! $+(&'=);&! .&(T&&+! (9&! -*+*'! )+-! );;&@(*'! 8)(&'$)<! T9&'&! (9&!
&Y;$(*+! ;)+! .&! %@<$(fJ4! ! #7&! (*! (9&! =);(! (9)(! (9&! &Y;$(*+! $%! ;9)'B&! +&7(')<R! $(! $%!
7+)==&;(&-!./!&<&;('$;)<!=$&<-!)+-!(9&'&=*'&!-$==7%&%!')+-*8</!(9'*7B9*7(!(9&!);($?&!
<)/&'4!!E9&!&Y;$(*+!87%(!'&);9!)+!$+(&'=);&!T$(9$+!$(%!<$=&($8&![LK!p!JK!+8]!*'!$(!T$<<!
-&;)/!.);Q! (*! (9&! B'*7+-! %()(&fJ4! ! E9$%! +&;&%%$()(&%! %8)<<! )+-! '&B7<)'! -*8)$+%! *=!
-*+*'!)+-!);;&@(*'!8)(&'$)<%4!S7<Q!9&(&'*W7+;($*+![SGX]!-&?$;&%R!T9&'&!(9&!-*+*'!
)+-! );;&@(*'! )'&! .<&+-&-! (*B&(9&'! )+-! ;)%(! ='*8! (9&! %)8&! %*<7($*+R! $%! *+&! *=! (9&!
B'&)(!)-?)+;&%!$+!C,`%!.&;)7%&!$(!@'*?$-&%!%7;9!)!8*'@9*<*B/!$+!(9&!);($?&!<)/&'ffd
fg4!!"<(&'+)(&</R!(9&!-*+*'!)+-!);;&@(*'!8*<&;7<&%!;)+!.&!;*?)<&+(</!)(();9&-!(*!&);9!
*(9&'! (*! B7)')+(&&! )+-! -*+*'! )+-! );;&@(*'! $+(&'=);&! T$(9$+! (9&! <$=&($8&! *=! (9&!
&Y;$(*+fh4!
! C+;&! (9&! &Y;$(*+! '&);9&%! )+! $+(&'=);&R! $(! 87%(! (9&+! -$%%*;$)(&! $+(*! ='&&!
;9)'B&%4! ! E9$%! @'*;&%%! $%! -&@$;(&-! $+! F$B7'&! L4M4! ! "%!8&+($*+&-! ).*?&R! (9&! ;9)'B&!
%&@)')($*+! $%! =7&<&-!./! (9&!&+&'B/! <&?&<!-$==&'&+;&! $+! (9&!5>3C%!*=! (9&!-*+*'!)+-!
!!
F$B7'&!L4fO!E9&!(T*!'&%*+)+;&!=*'8%R!%9*T+!*+!(9&!<&=(!)+-!'$B9(R!)'&!$-&+($;)<!$+!%('7;(7'&!8$+$8$Z$+B!(9&!&+&'B/!-$==&'&+;&!.&(T&&+!(9&!(T*!)+-!8$+$8$Z$+B!(9&!.*+-!<&+B(9!)<(&'+)($*+4!
!
! g!
(9&! );;&@(*'fJRfeRfk4! ! H(! 9)%! .&&+! %7BB&%(&-! (9)(! (9$%! &+&'B/! <&?&<! *==%&(!87%(! .&! )(!
<&)%(!K4f!&`!(*!)<<*T!=*'!=);$<&!;9)'B&!%&@)')($*+fk4! !E9&'&=*'&R!%@&;$)<!;)'&!87%(!.&!
()Q&+!$+!(9&!-&%$B+!*=!(9&!);($?&!<)/&'!8)(&'$)<%!(*!&+%7'&!)@@'*@'$)(&!&+&'B/!<&?&<!
)<$B+8&+(4!
9:D:M'0;@EHF'2AHE@=A<G'@GL'0<??FB=A<G'
! C+;&!(9&!='&&!;9)'B&%!9)?&!.&&+!B&+&')(&-R!(9&!&<&;('*+%!)+-!9*<&%!T$<<!8*?&!
(9'*7B9!(9&!);($?&!<)/&'!(*T)'-%!(9&$'!'&%@&;($?&!&<&;('*-&%4!!E9&!&==$;$&+;/!)(!T9$;9!
(9&%&! ;9)'B&%! '&);9! (9&!&<&;('*-&%!T$<<!-&@&+-!*+! (9&!8*.$<$(/!)+-! (9&!8*<&;7<)'!
@);Q$+B! *=! (9&!8)(&'$)<%4! ! D'/%()<<$+&! %8)<<! 8*<&;7<&%R! %7;9! )%! @&+();&+&R! &Y9$.$(!
&+9)+;&-!8*<&;7<)'!@);Q$+B!)+-!9$B9!8*.$<$($&%fi4!!G*T&?&'R!(9&%&!%8)<<!8*<&;7<&%!
)'&!*=(&+!+*(!%*<7.<&!)+-!'&A7$'&!-$==$;7<(!@'*;&%%$+B!(&;9+$A7&%4! !,*</8&'%R!*+!(9&!
*(9&'!9)+-R!;)+!.&!%*<7($*+!@'*;&%%&-!.7(!(/@$;)<</!%9*T!<*T&'!8*.$<$($&%!(9)+!(9&$'!
%8)<<!8*<&;7<&!;*7+(&'@)'(%4! !"--$($*+)<</R! (9&!&<&;('*+!)+-!9*<&!8*.$<$(/!87%(!.&!
!!
F$B7'&!L4MO!6;9&8)($;!'&@'&%&+()($*+!*=!(9&!-$%%*;$)($*+!*=!(9&!&Y;$(*+!=*'8&-!$+!(9&!-*+*'!8)(&'$)<4! !G&'&!(9&!&<&;('*+!$+!(9&!5>3C!*=!(9&!&Y;$(&-!%()(&!-*+*'!$%!(')+%=&''&-! (*! (9&! 5>3C! *=! (9&! );;&@(*'! )%! <*+B! )%! (9&! &+&'B/! <&?&<! -$==&'&+;&!.&(T&&+!(9&!(T*!5>3C%!$%!)(!<&)%(!K4f!&`4!
!
! h!
.)<)+;&-! $+!C,`%!.&;)7%&! %<*T! )+-!7+.)<)+;&-! ;9)'B&! (')+%@*'(! '&%7<(%! $+! <*T&'!
&==$;$&+;$&%MKRML4! !E9&!.7<Q!8*'@9*<*B/!*=!(9&!-&?$;&!T$<<!)<%*!)==&;(!(9&!&==$;$&+;/!*=!
;9)'B&%! '&);9$+B! (9&!&<&;('*-&%MJRMf4! !E9&'&!87%(!.&!;<&)'!@)(9%! =*'! (9&!;9)'B&%! (*!
(')?&<!T$(9*7(! &+;*7+(&'$+B! $%*<)(&-! -*8)$+%4! ! E9&'&=*'&! (9&! -*+*'! )+-! );;&@(*'!
-*8)$+%!%9*7<-!+*(!*+</!.&!%8)<<!)+-!'&B7<)'!.7(!)<%*!;*+($+7*7%!='*8!&<&;('*-&!(*!
&<&;('*-&4!
! D9)'B&! ;*<<&;($*+! )(! (9&! &<&;('*-&%! '&A7$'&%! )@@'*@'$)(&! )<$B+8&+(! *=! (9&!
T*'Q! =7+;($*+! *=! (9&! &<&;('*-&%! T$(9! (9&! &+&'B/! <&?&<%! *=! (9&! );($?&! <)/&'4! ! E9&!
$+(&'=);&!.&(T&&+!(9&!);($?&!<)/&'!)+-!(9&!&<&;('*-&%!$%!)<%*!)!;'$($;)<!@)')8&(&'!$+!
(9&! =).'$;)($*+! *=! C,`%4! ! 6$B+$=$;)+(! =*;7%! 9)%! .&&+! @<);&-! *+! (9&! -&%$B+! *=! (9&%&!
$+(&'=);&%! (*! &+9)+;&! ;*+();(! .&(T&&+! (9&! $+;*8@)($.<&! *'B)+$;! )+-! $+*'B)+$;!
<)/&'%4! ! E9&! 8*%(! ;*88*+! %7'=);&! 8*-$=$;)($*+! $%! (9&! 7($<$Z)($*+! *=! @*</[fRMd
&(9/<&+&-$*Y/(9$*@9&+&]O@*</%(/'&+&d%7<=*+)(&! [,2#CEO,66]R! T9$;9! $%! 7%&-! )%! )+!
&<&;('*+!.<*;Q$+B!<)/&'!.&(T&&+!)!8&()<!*Y$-&!&<&;('*-&!)+-!(9&!);($?&!<)/&'MM4!!
9:M'!F>ABF'1@E@NF=FEC'<J',EH@GAB'1;<=<><?=@ABC'
! H+! *'-&'! (*! ;9)');(&'$Z&! (9&! @&'=*'8)+;&! *=! (9&! -&?$;&R! %()+-)'-$Z&-!
$<<78$+)($*+! ;*+-$($*+%! )'&! (/@$;)<</! 7%&-4! ! "! <$B9(! %*7';&! ["3! L4e:]! $%! 7%&-! (*!
%$87<)(&! (9&! %*<)'! %@&;('78! T$(9! )+! $+(&+%$(/! *=! LKK8_w;8J4! ! E9$%! $%! 8&)+(! (*!
8$8$;!(9&!)?&')B&!$+(&+%$(/!*=!(9&!%7+<$B9(!*?&'!)!/&)'!)(!8$-d<)($(7-&%4!!"+!&Y)8@<&!
*=!)! Xd`!;7'?&! $%! %9*T+! $+!F$B7'&!L4e4! !E9&!&==$;$&+;/!*=!)!,`!-&?$;&! $%!-&(&'8$+&-!
7%$+B! (9'&&! @)')8&(&'%O! (9&! *@&+! ;$';7$(! ?*<()B&! [`CD]R! (9&! %9*'(d;$';7$(! ;7''&+(!
!
! k!
-&+%$(/![X6D]R!)+-!(9&!=$<<!=);(*'![FF]4!!2);9!*=!(9&%&!@)')8&(&'%!)'&!;<*%&</!'&<)(&-!(*!
(9&!8)(&'$)<!7%&-!$+!(9&!-&?$;&!)%!T&<<!)%!(9&!-&?$;&!)';9$(&;(7'&!)+-!8*'@9*<*B/4!
! E9&! `CD! $%! (9&! 8)Y$878! ?*<()B&! possible across a photovoltaic cell and
occurs when no current is flowing. In organic photovoltaics, this value is directly
related to the energy level difference between the HOMO of the donor and the
LUMO of the acceptor. Therefore a donor material with a low HOMO would be
desirable for maximizing the VOC of the device. Unfortunately, as the VOC is
optimized, the bandgap, and thus the light harvesting, of the device is
compromised. Careful tuning of the energy levels of the active layer materials is
essential for the optimization of the VOC.
! E9&! X6D! $%! (9&!8)Y$878!;7''&+(!-&+%$(/!(9)(!)!%*<)'!;&<<!;)+!@'*-7;&!)+-! $%!
the current that flows through a solar cell when there is no external resistance.
The JSC relates to the generation and collection of light generated charge carriers.
For OPVs, the JSC depends on the efficiency of each step discussed in Section 1.2:
!
!!F$B7'&!L4eO!E/@$;)<! Xd`! ;9)');(&'$%($;%!*=! )+!C,`4! !E9&! ;'$($;)<!-&?$;&!@)')8&(&'%![`CDR! X6DR!`8@@R!)+-!X8@@]!)'&!@*$+(&-!*7(4! !E9&!FF! $%!&A7)<! (*! (9&!')($*!*=! (9&!B'&/!%A7)'&!(*!(9&!%A7)'&!8)-&!./!(9&!-*((&-!<$+&4!
!
! i!
light absorption, exciton diffusion and dissociation, charge transport, and charge
collection. As far as the active layer is concerned, the JSC is improved if the
absorbance of the film is improved. Therefore materials with low bandgaps and
high extinction coefficients are desirable. The JSC is also improved if the materials
in the active layer have high charge mobility and appropriate morphology.
The FF is the ratio of the maximum power output to the theoretical power
output. The maximum power output is given as the point on the J-V curve where
the maximum power is produced. On the J-V curve this is represented as a
rectangle with an area equal to the product of the Jmpp and the Vmpp. The
theoretical power output is given as the product of the JSC and the VOC. Therefore
the equation for calculating the FF of an OPV is:
FF =JmppVmpp
JSCVOC
The power conversion efficiency (PCE) of a photovoltaic device is the ratio
of the power output to the power input. The equation for determining the PCE is:
PCE =JmaxVmax
Pin
= FFJSCVOC
Pin
9:O'1<?PNFE'1;<=<><?=@ABC'
! E*! -)(&R! (9&! 8*%(! %7;;&%%=7<! C,`%! 9)?&! $8@<&8&+(&-! )! SGX! )';9$(&;(7'&!
7($<$Z$+B! )! ;*+W7B)(&-! -*+*'d);;&@(*'! [#d"]! @*</8&'! )%! (9&! -*+*'! )+-! )! %*<7.<&!
=7<<&'&+&! -&'$?)($?&R! 8*%(! ;*88*+</! lgRgnd@9&+/<dDgLd.7(/'$;! );$-! 8&(9/<! &%(&'!
[,DgLS3]!*'!lgRgnd@9&+/<dDhLd.7(/'$;!);$-!8&(9/<!&%(&'![,DhLS3]!)%!(9&!);;&@(*'Me4!!
!
! LK!
"!%;9&8)($;!'&@'&%&+()($*+!*=!)!SGX!C,`!;)+!.&!%&&+!$+!F$B7'&!L4g4!!3*%(!;*88*+</R!
SGX! -&?$;&%! )'&! .7$<(! *+! )+! HECdB<)%%! %7.%(')(&R! T9$;9! );(%! )%! .*(9! )! (')+%
@)'&+(!%7.%(')(&!)+-!&<&;('*-&4!!E9&!%7.%(')(&!$%!(/@$;)<</!;*)(&-!T$(9!)+!$+(&'=);$)<!
<)/&'R! ,2#CEO,66R! T9$;9! $%! )! (')+%@)'&+(! ;*+-7;($?&! @*</8&'! )+-! @'*?$-&%! )+!
$8@'*?&-!$+(&'=);&!.&(T&&+!(9&!HEC!)+-!(9&!);($?&!<)/&'!T9$<&!);($+B!)%!)+!&<&;('*+!
.<*;Q$+B!<)/&'MM4!!E9&!@*</8&'O=7<<&'&+&!<)/&'!$%!-&@*%$(&-!*+(*!(9&!,2#CEO,66!<)/&'!
=*<<*T&-!./!(9&!-&@*%$($*+!*=!)!8&()<!;)(9*-&R!8*%(!;*88*+</!)<78$+784!!!
! ,*</8&'%! 9)?&! 8)+/! .&+&=$;$)<! A7)<$($&%! (9)(! 8)Q&! (9&8! %7$().<&! =*'! (9&!
=).'$;)($*+! *=! C,`%4! ! F$'%(</R! @*</8&'$Z)($*+! @'*?$-&%! )+! &Y(&+-&-! ;*+W7B)($*+!
T9$;9!)<<*T%!=*'!B**-!<$B9(!9)'?&%($+B4!!"--$($*+)<</R!;*+W7B)(&-!@*</8&'%!)'&!*=(&+!
'$B$-! )+-!@<)+)'!T9$;9!)<<*T%! =*'! B**-!@$d*'.$()<! *?&'<)@R!T9$;9! =);$<$()(&%! ;9)'B&!
(')+%@*'(4! ! ,*</8&'%! )'&! *=(&+!7($<$Z&-! =*'! (9&$'! B**-! =$<8! =*'8$+B!@'*@&'($&%! )+-!
%*<7.$<$(/R! T9$;9! )<<*T! (9&8! (*! .&! 7%&-! $+! =).'$;)($*+! (&;9+$A7&%! )@@'*@'$)(&! =*'!
<)'B&!)'&)%!%7;9!)%!'*<<d(*d'*<<!@'*;&%%$+BMg4!
!!
F$B7'&! L4gO! 6;9&8)($;! '&@'&%&+()($*+! *=! )! SGX! C,`4! ! E9&! SGX! )';9$(&;(7'&!@'*?$-&%! B'&)(&'! $+(&'=);$)<! )'&)! =*'! (9&! -$%%*;$)($*+! *=! &Y;$(*+%! T$(9$+! (9&!&Y;$(*+!-$==7%$*+!-$%()+;&4!
!
! LL!
! "%!8&+($*+&-! @'&?$*7%</R! (9&!8*%(! ;*88*+! %(')(&B/! =*'! (9&! -&%$B+! *=! <*T!
.)+-B)@!@*</8&'%!$%!(*!)<(&'+)(&!&<&;('*+!'$;9!-*+*'%!T$(9!&<&;('*+!@**'!);;&@(*'%!
$+! (9&!@*</8&'!.);Q.*+&4! !E9$%!'&%7<(%! $+!)!'&-d%9$=(&-!).%*'.)+;&! $+(*! (9&!'&B$*+!
T9&'&! (9&! %*<)'! @9*(*+! =<7Y! $%! 8*%(! $+(&+%&Mh4! ! D*+W7B)(&-! @*</8&'%! 9)?&! .&&+!
%(7-$&-!&Y(&+%$?&</!$+!*'-&'!(*!*@($8$Z&!<$B9(!).%*'@($*+!)%!T&<<!)%!;9)'B&!(')+%@*'(!
)+-!8*'@9*<*B/!;*+('*<! $+!SGX!C,`%LhRJLRJfRfKRMkdeL4! !F$B7'&!L4h!%9*T%!(9&!%('7;(7'&%!
*=!%*8&!@*</8&'%R!T9$;9!9)?&!-&8*+%(')(&-!(9&!9$B9&%(!&==$;$&+;$&%!(97%!=)'4!!!
! ,*</[fd9&Y/<(9$*@9&+&]![,fGE]!$%!;*+%$-&'&-!(9&!B*<-!%()+-)'-!*=!C,`%!)+-!
9)%! .&&+! %(7-$&-! &Y(&+%$?&</gRMJReJRef4! ! ,fGE! -&8*+%(')(&%! 9$B9! 9*<&!8*.$<$(/! )%! )!
'&%7<(! *=! $(%! B**-! %&<=d)%%&8.</! @'*@&'($&%! )+-! ;'/%()<<$+$(/4! ! ,fGEO,DgLS3! SGX!
!!
F$B7'&!L4hO!D9&8$;)<!%('7;(7'&%!*=!%*8&!*=! (9&!.&((&'!@&'=*'8$+B!@*</8&'!C,`%!(*!-)(&4!!,fGE!%9*T%!&==$;$&+;$&%!)'*7+-!et4!!E9&%&!-*+*'!);;&@(*'!@*</8&'%!)<<!%9*T!&==$;$&+;$&%!).*7(!g4ktefReMRee4!
!
! LJ!
-&?$;&%!9)?&!'&@*'(&-!,D2!?)<7&%!*=!MdetgRMJReJRef4!!"<(9*7B9!,fGE!$%!./!=)'!(9&!8*%(!
T$-&</!%(7-$&-!-*+*'!@*</8&'!=*'!C,`%R!$(!$%!+*(!9&!8*%(!$-&)<!@*</8&'4!!,fGE!9)%!)!
.)+-B)@!*=!J!&`R!T9$;9!$%!+*(!%7$().<&!=*'!(9&!).%*'.)+;&!*=!)!%$B+$=$;)+(!@*'($*+!*=!
(9&! %*<)'!@9*(*+! =<7Y4! !"--$($*+)<</R!,fGE!9)%! )!9$B9! </$+B!GC3CR!T9$;9!8)Q&%! $(!
*Y$-)($?&</!7+%().<&!)+-!;*8@'*8$%&%!`CD4!
! #d"!@*</8&'%!*==&'!)!%$B+$=$;)+(!$8@'*?&8&+(!$+!.)+-B)@!*?&'!,fGE4!!C+&!*=!
(9&!8*%(!7%&-!)+-!%7;;&%%=7<!(&;9+$A7&%!$%!(*!$8@<&8&+(!T&)Q!*'!8*-&')(&!-*+*'%!
T$(9!%('*+B!);;&@(*'%JJRfL4!!"%!8&+($*+&-!$+!&)'<$&'!%&;($*+%R!.*(9!)!<*T!.)+-B)@!)+-!
)!9$B9!`CD!)'&!-&%$').<&!=*'!9$B9!&==$;$&+;/!C,`%4!!>($<$Z$+B!)!T&)Q!-*+*'!8)$+()$+%!)!
<*T! </$+B! GC3C! &+&'B/! <&?&<R! T9$<&! )! %('*+B! );;&@(*'! @'*8$%&%! )! <*T! .)+-B)@4!!
2Y)8@<&%!*=!%7;9!@*</8&'%!;)+!.&!%&&+!$+!F$B7'&!L4h4!!E9&%&!@*</8&'%!9)?&!%9*T+!
&==$;$&+;$&%!7@!(*!ktR!8)Q$+B!(9&8!%*8&!*=!(9&!9$B9&%(!&==$;$&+;/!C,`%eMRee4!
! E9&'&! )'&! )<%*! %*8&! -')T.);Q%! (*! @*</8&'! C,`%4! ! D*+W7B)(&-! @*</8&'%R!
&%@&;$)<</! )(! 9$B9! 8*<&;7<)'! T&$B9(%R! )'&! +*(! '&)-$</! %*<7.<&4! ! E9$%! 8)Q&%! (9&!
@'*;&%%$+B! *=! (9&%&! @*</8&'%! $+;'&)%$+B</! -$==$;7<(4! ! "--$($*+)<</R! @*</8&'%! *=(&+!
;*+()$+!$8@7'$($&%!-7&!(*!$+%7==$;$&+(!@7'$=$;)($*+!(&;9+$A7&%4!!H8@7'$($&%!9)?&!.&&+!
%9*T+! (*! B'&)(</! )==&;(! (9&! &==$;$&+;/! *=! C,`%! ./! );($+B! )%! ;9)'B&! (')@%! )+-!
;*8@'*8$%$+B! -&?$;&! 8*'@9*<*B/4! ! ,*</8&'%! )<%*! 9)?&! )! ?)'$)($*+! $+! 8*<&;7<)'!
T&$B9(R!T9$;9!@'&?&+(!;*+%$%(&+(!.)(;9!(*!.)(;9!@'*;&%%$+B!)+-!8)Q&!(9&!%(7-/!*=!
%('7;(7'&d@'*@&'(/!'&<)($*+%9$@%!$+;'&)%$+B</!-$==$;7<(egReh4!
!
! Lf!
9:Q'#N@??'2<?FBK?F'1;<=<><?=@ABC'
! ,*</8&'%!9)?&!.&&+!(9&!8)$+!=*;7%!*=!C,`%!=*'!%&?&')<!/&)'%R!9*T&?&'R!8*'&!
'&;&+(</R!%8)<<!8*<&;7<&!C,`%!9)?&!%9*T+!B'&)(!@'*8$%&JReRLiRJKRekdgL4!!,&'9)@%!*+&!*=!
(9&!B'&)(&%(!)-?)+()B&%!*=! %8)<<!8*<&;7<&!C,`%! $%! (9&$'!;*+%$%(&+;/! ='*8!.)(;9! (*!
.)(;94! ! 68)<<! 8*<&;7<&%! 9)?&! )! T&<<! -&=$+&-! 8*<&;7<)'! %('7;(7'&! T9$;9! ;)+! .&!
;9)');(&'$Z&-! ./! %&?&')<! (&;9+$A7&%4! ! >+<$Q&! (9&$'! @*</8&'! ;*7+(&'@)'(%R! %8)<<!
8*<&;7<&%!9)?&!)!-&=$+$(&!8*<&;7<)'!T&$B9(!)+-!;)+!.&!%/+(9&%$Z&-!T$(9!?&'/!9$B9!
@7'$(/4! ! E9$%! =);$<$()(&%! (9&! %(7-/! *=! (9&! %('7;(7'&d@'*@&'(/! '&<)($*+%9$@! *=! %7;9!
%/%(&8%4!!!"%!%&&+!$+!F$B7'&!L4kR!(9&!&==$;$&+;$&%!*=!%8)<<!8*<&;7<&!C,`%!)'&!')@$-</!
;<$8.$+B! )+-! ;*8$+B! T$(9$+! '&);9! *=! (9&$'! @*</8&'! ;*7+(&'@)'(%4!!
!
! C7(! *=! )<<! *=! (9&! %8)<<! 8*<&;7<&! %&8$;*+-7;(*'%! '&@*'(&-R! %8)<<! 8*<&;7<&!
-/&%!9)?&!./! =)'! %9*T+! (9&!8*%(!@'*8$%&! =*'!C,`%4! !3*%(!-/&%!)'&!8)-&!*=!@7%9!
@7<<! %/%(&8%R! T9$;9! %9*T! -&%$').<&! ).%*'@($*+%! )(! <*+B! T)?&<&+B(9%! T$(9! 9$B9!
!!
F$B7'&! L4kO! 1&;&+(! @'*B'&%%! $+! %8)<<! 8*<&;7<&! C,`%! 9)?&! '&%7<(&-! $+! A7$;Q</!'$%$+B!&==$;$&+;$&%!+&)'$+B!(9*%&!*=!@*</8&'!C,`%4!
!
! LM!
&Y($+;($*+!;*&==$;$&+(%4!!"--$($*+)<</R!./!8)+$@7<)($+B!(9&!;9&8$;)<!%('7;(7'&R!)!<)'B&!
-&B'&&!*=!?)'$).$<$(/!;)+!.&!%&&+!$+!(9&!&+&'B/!<&?&<%4!!!
! H+! )--$($*+! (*! -/&!8*<&;7<&%R! )! =&T! &Y(&+-&-! #d"! %8)<<! 8*<&;7<&! %/%(&8%!
9)?&!)<%*!%9*T+!@'*8$%&!=*'!C,`%4!!6$8$<)'!(*!#d"!@*</8&'%R!(9&%&!%8)<<!8*<&;7<&%!
%9*T!$8@'*?&-!<$B9(!9)'?&%($+B!-7&!(*!(9&!&<&;('*+!'$;9!)+-!&<&;('*+!@**'!+)(7'&!*=!
(9&!8*<&;7<&4!!"!=&T!&Y)8@<&%!*=!(9&%&!%8)<<!8*<&;7<&!-/&%!)+-!#d"!%/%(&8%!;)+!.&!
%&&+!$+!F$B7'&!L4i4!!2);9!*=!(9&%&!-/&%!%9*T!,D2!*=!)(!<&)%(!gtR!T$(9!%*8&!'&);9$+B!
(*!+&)'</!htgJdgg4!!!
!
9:R'#KNN@EP'@GL'!ACCFE=@=A<G',>FE>AFS'
! H+!(9$%!;9)@(&'R!)+!$+('*-7;($*+!$+(*!C,`%!9)%!.&&+!-$%;7%%&-4!!D*+?&+($*+)<!
,`%!)'&!8)-&!='*8!%$<$;*+!)+-!)'&!;*88&';$)<</!)?)$<).<&!T$(9!&==$;$&+;$&%!+&)'$+B!
Jkt4! !E9&!).%*'.)+;&!*=!%$<$;*+!B'&)(</! <$8$(%! $8@'*?&8&+(%!(*!(9&!&==$;$&+;/R!)+-!
!!
F$B7'&!L4iO! 68)<<!8*<&;7<&%!T9$;9!%9*T!9$B9!&==$;$&+;$&%4! !E9&! =$'%(!'*T!$%!-/&%!)+-!(9&!.*((*8!(T*!'*T%!)'&!#d"!%/%(&8%4!!"<<!%9*T!,D2!).*7(!gtgJdgg4!
!
! Le!
(9&! 9$B9! @7'$(/! *=! %$<$;*+! )+-! (9&! @'*;&%%$+B! (&;9+$A7&%! +&;&%%)'/! =*'! =).'$;)($*+!
8)Q&! (9&! -&?$;&%! ;*%(</4! ! C,`%! *+! (9&! *(9&'! 9)+-! *==&'! %*8&! .&+&=$(%! *?&'!
(')-$($*+)<!%$<$;*+!.)%&-!-&?$;&%!$+;<7-$+B!(7+).<&!).%*'.)+;&!T$(9!9$B9!&Y($+;($*+!
;*&==$;$&+(%R! )+-! (9&! @*(&+($)<! =*'! =).'$;)($+B! <*T! ;*%(R! <)'B&! )'&)R! =<&Y$.<&! -&?$;&%4!!
C,`%!9*T&?&'!*@&')(&!./!8*'&!;*8@<$;)(&-!@'*;&%%&%R!T9$;9!9)?&!(97%!=)'!<$8$(&-!
(9&8!='*8!'&);9$+B!9$B9!&==$;$&+;$&%4!!
! E9&'&!)'&!87<($@<&!@'*;&%%&%! (9)(! )+!C,`!-&?$;&!87%(!7+-&'B*! $+!*'-&'! (*!
;*+?&'(! %7+<$B9(! $+(*! &<&;('$;)<! ;7''&+(4! ! C@($8$Z)($*+! *=! (9&%&! @'*;&%%&%! (9'*7B9!
8*<&;7<)'!-&%$B+!*'!-&?$;&!8)+$@7<)($*+!T$<<!.'$+B!(9&!'&)<$Z)($*+!*=!;*88&';$)<</!
?$).<&!9$B9!&==$;$&+;/!C,`%gh4! !"%!-$%;7%%&-! $+! (9$%! ;9)@(&'R! (9&!@'*;&%%&%! (9)(! (9&!
);($?&!<)/&'!8)(&'$)<%!7+-&'B*!)'&!$+(&''&<)(&-!(*!*+&!)+*(9&'!)+-!(9&'&=*'&!'&A7$'&!
)!=$+&!.)<)+;$+B!);(!(*!'&);9!9$B9!&==$;$&+;$&%4!!#&?$;&!@)')8&(&'%!)'&!)<%*!$+=<7&+;&-!
./!87<($@<&!@'*;&%%&%!8&)+$+B!(9)(!;9)+B$+B!*+&!@'*@&'(/!*=!(9&!8*<&;7<)'!-&%$B+!
*=!(9&!);($?&!<)/&'R!T$<<!9)?&!87<($@<&!&==&;(%!*+!(9&!-&?$;&!@'*@&'($&%4!
! 2Y)8@<&%! *=! .*(9! @*</8&'! )+-! %8)<<! 8*<&;7<&! C,`%! )'&! )<%*! -$%;7%%&-4!!
,*</8&'%!*==&'!%7@&'$*'!@'*;&%%$+B!)+-!8*'@9*<*B$;)<!;*+('*<!*?&'!%8)<<!8*<&;7<&%4!!
68)<<!8*<&;7<&%R!*+!(9&!*(9&'!9)+-R!*==&'!)!B'&)(&'!;*+('*<!*?&'!%('7;(7'&d@'*@&'(/!
'&<)($*+%9$@! %(7-$&%4! ! "<(9*7B9! @*</8&'%! 9)?&! %9*T+! B'&)(&'! &==$;$&+;$&%! (*! -)(&R!
%8)<<!8*<&;7<&%!)'&!A7$;Q</!;)(;9$+B!7@!T$(9!(9&$'!@*</8&'!;*7+(&'@)'(%4!
! H+! (9$%! -$%%&'()($*+R! (9&! =*;7%! $%! *+! (9&! )@@<$;)($*+! *=! %8)<<! 8*<&;7<&%! =*'!
C,`%!)+-!(9&!@*(&+($)<!)@@<$;)($*+!*=!%8)<<!8*<&;7<&%!$+!%&+%$($Z$+B!@*</8&'!C,`%4!!
H+! D9)@(&'! JR! %A7)')$+&! -/&%! =*'! C,`%! T$<<! .&! -$%;7%%&-4! ! E9&! &+&'B/! <&?&<%! *=!
('$)'/<)8$+&! %A7)')$+&! -/&%! T$<<! .&! (7+&-! $+! *'-&'! (*! *@($8$Z&! (9&! =$+&! .)<)+;&!
!
! Lg!
.&(T&&+!&+9)+;&-!<$B9(!9)'?&%($+B!)+-!$+;'&)%&-!`CD4!!H+!D9)@(&'!fR!(9&!(7+).$<$(/!*=!
(9&!).%*'.)+;&!*=!Q&(*;/)+$+&!-/&%!$%!&Y@<*'&-4!!E9&!);;&@(*'!%('&+B(9!*=!(9&!-/&%!
)'&!(7+&-!$+!*'-&'!(*!$+;'&)%&!(9&!;/)+$+&!;9)');(&'!*=!(9&!-/&!'&%7<($+B!$+!%9$=(%!$+!
(9&!).%*'.)+;&4! ! H+!D9)@(&'!MR! (9&!-&%$B+!@'*@&'($&%!*=!#d"!%/%(&8%!)%! %&+%$($Z&'%!
)'&! &Y@<*'&-! )+-! (9&$'! )@@<$;)($*+! $+! $8@'*?$+B! (9&! <$B9(! 9)'?&%($+B! *=! .<*;Q!
;*@*</8&'%! $%! -$%;7%%&-4! ! F$+)<</R! $+! D9)@(&'! eR! (9&! B&+&')<! ;*+;<7%$*+%! *=! (9&!
-$%%&'()($*+! T$<<! .&! B$?&+! )+-! =7(7'&! -$'&;($*+%! =*'! &);9! *=! (9&! @'*W&;(%! T$<<! .&!
@'*@*%&-4!
9:T'.FJFEFGBFC'
! [L]! 3*'(*+R!C4!"!0&T!#)/!#)T+$+Bx!6$<$;*+!`)<<&/!67+'$%&4!!"#$%&!DUURR!''(R!LidJJ4!
! [J]! D9)8.&'<)$+R!:4!"4!C'B)+$;!6*<)'!D&<<%O!"!1&?$&T4!)*+"%,-&++.!9VWMR!/R!Mhdkf4!
! [f]! G&<B&%&+R! 34u! 6*+-&'B))'-R! 14u! V'&.%R! F4! D4! "-?)+;&-! 3)(&'$)<%! )+-!,'*;&%%&%!=*'!,*</8&'!6*<)'!D&<<!#&?$;&%4!01,2"#&%1,-3&41!DU9UR!56R!fgdgK4!
! [M]! 6@)+BB))'-R! G4u! V'&.%R! F4! D4! "! S'$&=! G$%(*'/! *=! (9&! #&?&<*@8&+(! *=!C'B)+$;!)+-!,*</8&'$;!,9*(*?*<()$;%4!)*+1,78&%9:,2"#&%1,)*+1,-&++.!DUUOR!/(R!LJedLMg4!
! [e]! E)+BR! D4! _4! ET*d5)/&'! C'B)+$;! ,9*(*?*<()$;! D&<<4! ;<<+1, =3:.1, >&##1!9VWRR!'/R!LkfdLke4!
! [g]! E9*8@%*+R!S4!D4u! F'&;9&(R! X4!34! X4! ,*</8&'dF7<<&'&+&!D*8@*%$(&! 6*<)'!D&<<%4!;89&?1,-3&41,@8#1,7A1!DUUWR!'BR!ekdhh4!
! [h]! _y9'<&R!#4u!3&$%%+&'R!#4!C'B)+$;!6*<)'!D&<<%4!;AC1,2"#&%1!9VV9R!(R!LJidLfk4!
! [k]! 5&T$%R! 04! 64! E*T)'-! D*%(d2==&;($?&! 6*<)'! 2+&'B/! >%&4! )DE&8D&! DUUTR!(FGR!hikdkKL4!
! [i]! S&;A7&'&<R! "4! 24! 3&8*$'&! %7'! <&%! 2==&;(%! 2<&;('$A7&%! ,'*-7$(%! %*7%!5m$+=<7&+&!-&%!1)/*+%!6*<)$'&%4!-1,H1,I&JA1,)&"8D&.,;D"A1,)DE1!9WMVR!KR!egLdegh4!
!
! Lh!
! [LK]! D9)@$+R!#4!34u! F7<<&'R! D4! 64u! ,&)'%*+R!:4! 54!"!0&T!6$<$;*+!@d+! X7+;($*+!,9*(*;&<<! =*'!D*+?&'($+B!6*<)'!1)-$)($*+! $+(*!2<&;('$;)<!,*T&'4! 01,;<<+1,=3:.1!9VQOR!5GR!ghgdghh4!
! [LL]! ,9*(*?*<()$;%R! 04! 04! D4! =4O! S&%(! 1&%&)';9dD&<<! 2==$;$&+;$&%4!9((@OwwTTT4+'&<4B*?w+;@?wR!2-4R!JKLJ4!
! [LJ]! V$@@&<&+R! S4u! S'&-)%R! X4d54! C'B)+$;! ,9*(*?*<()$;%4!78&%9:, 78CE%*81, )DE1!DUUVR!5R!JeLdJgL4!
! [Lf]! 69)9R! "4u! 3&$&'R! X4u! `)<<)(d6)7?)$+R! 24u! #'*ZR! D4u! V'*<<R! >4u! _/'%;9R! 04u!:7$<<&(R! X4u! :')=R! >4! 3$;'*;'/%()<<$+&! "$<$;*+! )+-! z3$;'*8*'@9U! E)+-&8! 6*<)'! D&<<%4!L3E8,)*+EA,ME+4.!DUUDR!'6(N'6'R!LhidLkh4!
! [LM]! S&)7W7B&R!,4!34u!F'&;9&(R!X4!34!X4!3*<&;7<)'!#&%$B+!)+-!C'-&'$+B!2==&;(%!$+! @$dF7+;($*+)<!3)(&'$)<%! =*'! E')+%$%(*'! )+-! 6*<)'! D&<<! "@@<$;)($*+%4! 01, ;41, -3&41,)*D1!DU99R!F((R!JKKKidJKKJi4!
! [Le]! S'&-)%R! X4d54u! 0*'(*+R! X4! 24u! D*'+$<R! X4u! D*'*@;&)+7R! `4! 3*<&;7<)'!>+-&'%()+-$+B! *=! C'B)+$;! 6*<)'! D&<<%O! E9&! D9)<<&+B&%4! ;DD1, -3&41, H&.1! DUUVR! '5R!LgiLdLgii4!
! [Lg]! :'&BBR!S4!"4u!G)++)R!34!D4!D*8@)'$+B!C'B)+$;!(*!H+*'B)+$;!,9*(*?*<()$;!D&<<%O!E9&*'/R!2Y@&'$8&+(R!)+-!6$87<)($*+4!01,;<<+1,=3:.1!DUUMR!K(R!fgKedfgLM4!
! [Lh]! S$)+R! 54u! ^97R! 24u! E)+BR! X4u! E)+BR!_4u! ^9)+BR! F4! 1&;&+(! ,'*B'&%%! $+! (9&!#&%$B+!*=!0)''*T!S)+-B)@!D*+W7B)(&-!,*</8&'%! =*'!G$B9d2==$;$&+;/!C'B)+$;!6*<)'!D&<<%4!=%*91,=*+:41,)DE1!DU9DR!(BR!LJiJdLffL4!
! [Lk]! G)?$+B)R!24!24u! (&+!G*&?&R!_4u!_/+.&'BR!G4!"<(&'+)(&!#*+*'d";;&@(*'!68)<<dS)+-d:)@! 6&8$;*+-7;($+B! ,*</8&'%O! ,*</%A7)')$+&%! )+-! ,*</;'*;*+)$+&%4!):8#31,2!9VVMR!GGR!JiidfKg4!
! [Li]! 5$+R! I4u! 5$R! I4u! ^9)+R! o4! 68)<<! 3*<&;7<&! 6&8$;*+-7;(*'%! =*'! G$B9d2==$;$&+;/!C'B)+$;!,9*(*?*<()$;%4!-3&41,)*D1,H&C1!DU9DR!'FR!MJMedMJhJ4!
! [JK]! 3$%9')R!"4u!S{7&'<&R!,4!68)<<!3*<&;7<&!C'B)+$;!6&8$;*+-7;(*'%!*+!(9&!3*?&O!,'*8$%&%!=*'!F7(7'&!6*<)'!2+&'B/!E&;9+*<*B/4!;89&?1,-3&41,@8#1,7A1!DU9DR!GFR!JKJKdJKgh4!
! [JL]! ^9)+BR!^4d:4u!_)+BR!X4!6('7;(7'&%!)+-!,'*@&'($&%!*=!D*+W7B)(&-!#*+*'d";;&@(*'! D*@*</8&'%! =*'! 6*<)'! D&<<! "@@<$;)($*+%4! 01, 2"#&%1, -3&41!DU9DR! 55R! MLhkdMLkh4!
! [JJ]! ^9*7R! G4u! I)+BR! 54u! ,'$;&R! 64! D4u! V+$B9(R! V4! X4u! I*7R! _4! 2+9)+;&-!,9*(*?*<()$;! ,&'=*'8)+;&! *=! 5*TdS)+-B)@! ,*</8&'%! T$(9! #&&@! 5>3C! 5&?&<%4!;89&?1,-3&41,@8#1,7A1!DU9UR!'KR!hiiJdhiie4!
!
! Lk!
! [Jf]! ^9*7R! G4u! I)+BR! 54u! I*7R! _4! 1)($*+)<! #&%$B+! *=! G$B9! ,&'=*'8)+;&!D*+W7B)(&-!,*</8&'%!=*'!C'B)+$;!6*<)'!D&<<%4!2"D%*4*+&D$+&.!DU9DR!'GR!gKhdgfJ4!
! [JM]! G*7R!X4u!G7*R!54u!G&R!D4u!I)+BR!D4u!5$R!I4!6/+(9&%$%!)+-!".%*'@($*+!6@&;(')!*=! ,*</[fd[@9&+/<&+&?$+/<](9$*@9&+&]%! T$(9! D*+W7B)(&-! 6$-&! D9)$+%4!2"D%*4*+&D$+&.!DUUQR!(KR!eiMdgKf4!
! [Je]! G*7R! X4u! E)+R! ^4! )4u! I)+R! I4u! G&R! I4u! I)+BR! D4u! 5$R! I4! 6/+(9&%$%! )+-!,9*(*?*<()$;! ,'*@&'($&%! *=! ET*d#$8&+%$*+)<! D*+W7B)(&-! ,*</(9$*@9&+&%! T$(9!S$[(9$&+/<&+&?$+/<&+&]!6$-&!D9)$+%4!01,;41,-3&41,)*D1!DUURR!F5/R!MiLLdMiLg4!
! [Jg]! 5$R!I4u!^*7R!I4!D*+W7B)(&-!,*</8&'!,9*(*?*<()$;!3)(&'$)<%!T$(9!S'*)-!".%*'@($*+! S)+-! )+-! G$B9! D9)'B&! D)''$&'! 3*.$<$(/4! ;AC1, 2"#&%1! DUUWR! 56R! JieJdJiek4!
! [Jh]! G7*R!54u!^9)+BR!64u!:7*R!o4u!o7R!F4u!5$R!I4u!G*7R!X4!1&@<);$+B!"<Q*Y/!:'*7@%!T$(9! "<Q/<(9$&+/<! :'*7@%O! "! F&)%$.<&! "@@'*);9! E*! H8@'*?&! (9&! ,'*@&'($&%! *=!,9*(*?*<()$;!,*</8&'%4!;89&?1,-3&41,@8#1,7A1!DU99R!G6R!igihdihKJ4!
! [Jk]! 5$)+BR! I4u! F&+BR! #4u! _7R! I4u! E%)$R! 64dE4u! 5$R! :4u! 1)/R! D4u! I7R! 54! G$B9</!2==$;$&+(!6*<)'!D&<<!,*</8&'%!#&?&<*@&-!?$)!F$+&dE7+$+B!*=!6('7;(7')<!)+-!2<&;('*+$;!,'*@&'($&%4!01,;41,-3&41,)*D1!DUUVR!F(FR!hhiJdhhii4!
! [Ji]! S&?&'$+)R! 54u! 6)<$;&R! ,4! 6A7)')$+&! D*8@*7+-%O! E)$<*'&-! #&%$B+! )+-!6/+(9&%$%! E*T)'-%! )! `)'$&(/! *=! 3)(&'$)<! 6;$&+;&! "@@<$;)($*+%4! 7$%1, 01, O%91, -3&41!DU9UR!56F6R!LJKhdLJJe4!
! [fK]! D9&+BR! I4dX4u! I)+BR! 64dG4u! G%7R! D4d64! 6/+(9&%$%! *=! D*+W7B)(&-! ,*</8&'%!=*'!C'B)+$;!6*<)'!D&<<!"@@<$;)($*+%4!-3&41,H&C1!DUUVR!F6KR!ekgkdeiJf4!
! [fL]! ^9*7R! G4u! I)+BR! 54u! 6(*+&Q$+BR! 64u! I*7R! _4! "! _&)Q! #*+*'|6('*+B!";;&@(*'!6(')(&B/!(*!#&%$B+!H-&)<!,*</8&'%!=*'!C'B)+$;!6*<)'!D&<<%4!;-),;<<+1,2"#&%1,@8#&%P"D&.!DU9UR!5R!LfhhdLfkf4!
! [fJ]! G)<<%R! X4! X4! 34u! ,$;9<&'R! V4u! F'$&+-R! 14! G4! 2Y;$(*+! #$==7%$*+! )+-!#$%%*;$)($*+! $+!)!,*</[@d@9&+/<&+&?$+/<&+&]wDgK!G&(&'*W7+;($*+!,9*(*?*<()$;!D&<<4!;<<+1,=3:.1,>&##1!9VVRR!Q/R!fLJKdfLJJ4!
! [ff]! G)<<%R!X4!X4!34u!_)<%9R!D4!"4u!:'&&+9)8R!04!D4u!3)'%&B<$)R!24!"4u!F'$&+-R!14!G4u!3*')(($R!64!D4u!G*<8&%R!"4!S4!2==$;$&+(!,9*(*-$*-&%!='*8!H+(&'@&+&(')($+B!,*</8&'!0&(T*'Q%4!!"#$%&!9VVQR!(BQR!MikdeKK4!
! [fM]! ,&&(R!X4u!G&&B&'R!"4!X4u!S)Z)+R!:4!D4!},<)%($;}!6*<)'!D&<<%O!6&<=d"%%&8.</!*=!S7<Q! G&(&'*W7+;($*+! 0)+*8)(&'$)<%! ./! 6@*+()+&*7%! ,9)%&! 6&@)')($*+4! ;DD1, -3&41,H&.1!DUUVR!'5R!LhKKdLhKk4!
!
! Li!
! [fe]! 69)9&&+R!64!24u!S').&-R!D4!X4u!6)'$;$=(;$R!04!64u!,)-$+B&'R!F4u!F'*89&'ZR!E4u!G788&<&+R!X4!D4!J4et!2==$;$&+(!C'B)+$;!,<)%($;!6*<)'!D&<<%4!;<<+1,=3:.1,>&##1!DUU9R!B/R!kMLdkMf4!
! [fg]! I7R! :4u! :)*R! X4u! G788&<&+R! X4! D4u! _7-<R! F4u! G&&B&'R! "4! X4! ,*</8&'!,9*(*?*<()$;!D&<<%O!2+9)+;&-!2==$;$&+;$&%!?$)!)!0&(T*'Q!*=!H+(&'+)<!#*+*'d";;&@(*'!G&(&'*W7;($*+%4!)DE&8D&!9VVQR!5'6R!LhkidLhiL4!
! [fh]! D')?$+*R!"4u!6)'$;$=(;$R!04!64!#*7.<&dD).<&!,*</8&'%!=*'!F7<<&'&+&!S)%&-!C'B)+$;!C@(*&<&;('*+$;!"@@<$;)($*+%4!01,2"#&%1,-3&41!DUUDR!F5R!LifLdLiMf4!
! [fk]! 6;9)'.&'R! 34! D4u! 3~9<.);9&'R! #4u! V*@@&R! 34u! #&+QR! ,4u! _)<-)7=R! D4u!G&&B&'R! "4! X4u! S').&;R! D4! X4! #&%$B+! 17<&%! =*'! #*+*'%! $+! S7<QdG&(&'*W7+;($*+! 6*<)'!D&<<%�E*T)'-%!LK�t!2+&'B/dD*+?&'%$*+!2==$;$&+;/4!;AC1,2"#&%1!DUURR!F/R!hkidhiM4!
! [fi]! V*;9R!04!C'B)+$;! 2<&;('*+$;!#&?$;&%! )+-!E9&$'! F7+;($*+)<! H+(&'=);&%4!-3&41,=3:.1,-3&41!DUUTR!/R!LMfkdLMee4!
! [MK]! 3&<Z&'R!D4u!V**@R!24!X4u!3$9)$<&(;9$R!`4!#4u!S<*8R!,4!_4!34!G*<&!E')+%@*'(!$+!,*</[@9&+/<&+&!?$+/<&+&]w3&(9)+*=7<<&'&+&!S7<QdG&(&'*W7+;($*+!6*<)'!D&<<%4!;AC1,M$8D#1,2"#&%1!DUUOR!F'R!kgedkhK4!
! [ML]! S<*8R!,4!_4!34u!3$9)$<&(;9$R!`4!#4u!V*%(&'R!54!X4!"4u!3)'Q*?R!#4!24!#&?$;&!,9/%$;%!*=!,*</8&'OF7<<&'&+&!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%4!;AC1,2"#&%1!DUUTR!FKR!LeeLdLegg4!
! [MJ]! 3)R! _4u! I)+BR! D4u! :*+BR! o4u! 5&&R! V4u! G&&B&'R! "4! X4! E9&'8)<</! 6().<&R!2==$;$&+(! ,*</8&'! 6*<)'! D&<<%! T$(9! 0)+*%;)<&! D*+('*<! *=! (9&! H+(&'@&+&(')($+B!0&(T*'Q!3*'@9*<*B/4!;AC1,M$8D#1,2"#&%1!DUUQR!FGR!LgLhdLgJJ4!
! [Mf]! 3)(7'*?�R!V4u!?)+!S)?&<R!64!64u!_$&+QR!34!34u!X)+%%&+R!14!"4!X4u!V&8&'$+QR!34!#&%;'$@($*+!*=!(9&!3*'@9*<*B/!#&@&+-&+(!D9)'B&!E')+%@*'(!)+-!,&'=*'8)+;&!*=!,*</8&'OF7<<&'&+&!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%4!;AC1,M$8D#1,2"#&%1!DU99R!5FR!JgLdJgi4!
! [MM]! V$';98&/&'R! 64u! 1&7(&'R! V4! 6;$&+($=$;! H8@*'()+;&R! @'*@&'($&%! )+-!:'*T$+B! "@@<$;)($*+%! *=! @*</[fRMd&(9/<&+&-$*Y/(9$*@9&+&]4! 01, 2"#&%1, -3&41! DUUQR!FGR!JKhhdJKkk4!
! [Me]! 5&+&%R! 34u! _&(Z&<)&'R! :4dX4! "4! G4u! V**$%(')R! F4! S4u! `&&+%(')R! 64! D4u!G788&<&+R! X4! D4u! S<*8R! ,4! _4! 34! F7<<&'&+&! S$%)--7;(%! =*'! 2+9)+;&-! C@&+dD$';7$(!`*<()B&%!)+-!2==$;$&+;$&%!$+!,*</8&'!6*<)'!D&<<%4!;AC1,2"#&%1!DUUWR!56R!JLLgdJLLi4!
! [Mg]! V'&.%R!F4!D4u!F/&+.*R!X4u! X*'B&+%&+R!34!,'*-7;(!H+(&B')($*+!*=!D*8@);(!1*<<d(*d1*<<!,'*;&%%&-!,*</8&'!6*<)'!D&<<!3*-7<&%O!3&(9*-%!)+-!3)+7=);(7'&!>%$+B!F<&Y*B')@9$;!,'$+($+BR!6<*(d#$&!D*)($+B!)+-!1*()'/!6;'&&+!,'$+($+B4! 01,2"#&%1,-3&41!DU9UR!56R!kiiMdiKKL4!
!
! JK!
! [Mh]! #'78R! E4! C4O! 6*<)'! H+(&+%$(/! )(! 6&)! 5&?&<! ./! _)?&<&+B(94!9((@OwwTTT4(9&*$<-'784;*8w+*-&wMigMR!2-4R!JKKi4!
! [Mk]! S7+-B))'-R! 24u! V'&.%R! F4! D4! 5*T! S)+-! :)@! ,*</8&'%! =*'! C'B)+$;!,9*(*?*<()$;%4!)*+1,78&%9:,2"#&%1,)*+1,-&++.!DUUTR!KFR!ieMdike4!
! [Mi]! D9&+R!X4u!D)*R!I4!#&?&<*@8&+(!*=!0*?&<!D*+W7B)(&-!#*+*'!,*</8&'%!=*'!G$B9d2==$;$&+;/!S7<QdG&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!;DD1,-3&41,H&.1!DUUVR!'5R!LhKidLhLk4!
! [eK]! F);;9&(($R! "4! rdD*+W7B)(&-! ,*</8&'%! =*'! C'B)+$;! 2<&;('*+$;%! )+-!,9*(*?*<()$;!D&<<!"@@<$;)($*+%4!-3&41,2"#&%1!DU9UR!5(R!hffdhek4!
! [eL]! S').&;R! D4! X4u! 6)'$;$=(;$R!04! 64u!G788&<&+R! X4! D4! ,<)%($;! 6*<)'! D&<<%4!;AC1,M$8D#1,2"#&%1!DUU9R!FFR!LedJg4!
! [eJ]! V$8R!I4u!D**QR!64u!E7<)-9)'R!64!34u!D9*7<$%R!64!"4u!0&<%*+R!X4u!#7'')+(R!X4!14u!S')-<&/R!#4!#4!D4u!:$<&%R!34u!3;D7<<*;9R!H4u!G)R!D4d64u!1&&R!34!"!6('*+B!1&B$*'&B7<)'$(/!2==&;(! $+! 6&<=dC'B)+$Z$+B! D*+W7B)(&-! ,*</8&'! F$<8%! )+-! G$B9d2==$;$&+;/!,*</(9$*@9&+&OF7<<&'&+&!6*<)'!D&<<%4!!"#1,2"#&%1!DUURR!GR!LihdJKf4!
! [ef]! 5$R!:4u!69'*('$/)R!`4u!G7)+BR!X4u!I)*R!I4u!3*'$)'(/R!E4u!28&'/R!V4u!I)+BR!I4!G$B9d2==$;$&+;/! 6*<7($*+! ,'*;&%%).<&! ,*</8&'! ,9*(*?*<()$;! D&<<%! ./! 6&<=dC'B)+$Z)($*+!*=!,*</8&'!S<&+-%4!!"#1,2"#&%1!DUUQR!'R!kgMdkgk4!
! [eM]! G&R!^4u!^9*+BR!D4u!G7)+BR!o4u!_*+BR!_4!I4u!_7R!G4u!D9&+R!54u!67R!64u!D)*R!I4!6$87<()+&*7%!2+9)+;&8&+(!*=!C@&+dD$';7$(!`*<()B&R!69*'(dD$';7$(!D7''&+(!#&+%$(/R!)+-!F$<<!F);(*'!$+!,*</8&'!6*<)'!D&<<%4!;AC1,2"#&%1!DU99R!5(R!MgfgdMgMf4!
! [ee]! ^9*7R!G4u!I)+BR!54u!6(7)'(R!"4!D4u!,'$;&R!64!D4u!5$7R!64u!I*7R!_4!#&?&<*@8&+(!*=!F<7*'$+)(&-!S&+Z*(9$)-$)Z*<&!)%!)!6('7;(7')<!>+$(!=*'!)!,*</8&'!6*<)'!D&<<!*=!ht!2==$;$&+;/4!;89&?1,-3&41,@8#1,7A1!DU99R!G6R!JiiedJiik4!
! [eg]! 6;9$<$+%Q/R! ,4u! "%)T)@$'*8R! >4u! 6;9&'=R! >4u! S$&<&R! 34u! S').&;R! D4! X4!H+=<7&+;&!*=!(9&!3*<&;7<)'!_&$B9(!*=!,*</[fd9&Y/<(9$*@9&+&]!*+!(9&!,&'=*'8)+;&!*=!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%4!-3&41,2"#&%1!DUUQR!FBR!JLhedJLkK4!
! [eh]! ,&&(R! X4u!D9*R!04!64u!5&&R!64!V4u!S)Z)+R!:4!D4!E')+%$($*+! ='*8!6*<7($*+! (*!(9&! 6*<$-! 6()(&! $+! ,*</8&'! 6*<)'! D&<<%! D)%(! ='*8! 3$Y&-! 6*<?&+(%4!2"D%*4*+&D$+&.!DUUWR!'FR!kgeedkgei4!
! [ek]! ,&78)+%R! ,4u! >;9$-)R! 64u! F*''&%(R! 64! 14! 2==$;$&+(! S7<Q! G&(&'*W7+;($*+!,9*(*?*<()$;!D&<<%!>%$+B!68)<<d3*<&;7<)'d_&$B9(!C'B)+$;!E9$+!F$<8%4!!"#$%&!DUUMR!'5GR!LekdLgJ4!
!
! JL!
! [ei]! 1)+-R!S4!,4u!:&+*&R!X4u!G&'&8)+%R!,4u!,**'(8)+%R!X4!6*<)'!D&<<%!>($<$Z$+B!68)<<!3*<&;7<)'!_&$B9(!C'B)+$;!6&8$;*+-7;(*'%4!=%*91,=3*#*C*+#"ED.!DUUTR!FGR!geidghg4!
! [gK]! 1*+;)<$R!X4!3*<&;7<)'!S7<Q!G&(&'*W7+;($*+%O!"+!28&'B$+B!"@@'*);9!(*!C'B)+$;!6*<)'!D&<<%4!;DD1,-3&41,H&.1!DUUVR!'5R!LhLidLhfK4!
! [gL]! ^97R! o4dG4u! ,&+BR! X4u! D)*R! I4u! 1*+;)<$R! X4! 6*<7($*+d,'*;&%%).<&! 6$+B<&d3)(&'$)<! 3*<&;7<)'! 28$((&'%! =*'! C'B)+$;! 5$B9(d28$(($+B! #&?$;&%4! -3&41, )*D1, H&C1!DU99R!'6R!feKidfeJM4!
! [gJ]! D9$7R! 64d_4u! 5$+R! 54dI4u! 5$+R! G4d_4u! D9&+R! I4dG4u! G7)+BR! ^4dI4u! 5$+R! I4dE4u!5$+R! F4u! 5$7R! I4dG4u! _*+BR! V4dE4! "! #*+*'d";;&@(*'d";;&@(*'! 3*<&;7<&! =*'! `);778d,'*;&%%&-! C'B)+$;! 6*<)'! D&<<%!T$(9! )! ,*T&'! D*+?&'%$*+! 2==$;$&+;/! *=! g4Mt4!-3&41,-*44$81!DU9DR!'/R!LkehdLkei4!
! [gf]! D9&+R!:4u!6)%).&R!G4u!_)+BR!^4u!_)+BR!o4dF4u!G*+BR!^4u!I)+BR!I4u!V$-*R! X4!D*d2?)@*')(&-! S7<Q! G&(&'*W7+;($*+! 6*<)'! D&<<%!T$(9! �g4Kt! 2==$;$&+;/4!;AC1,2"#&%1!DU9DR!5'R!JhgkdJhhf4!
! [gM]! 67+R!I4u!_&<;9R!:4!D4u!5&*+BR!_4!54u!E)Q);%R!D4!X4u!S)Z)+R!:4!D4u!G&&B&'R!"4!X4! 6*<7($*+d,'*;&%%&-! 68)<<d3*<&;7<&! 6*<)'! D&<<%! T$(9! g4ht! 2==$;$&+;/4!!"#1, 2"#&%1!DU9DR!FFR!MMdMk4!
! [ge]! 6(&$+8)++R!`4u!V'*+&+.&'BR!04!34u!5&+Z&R!34!14u!:')=R!64!34u!G&'(&<R!#4u!3&&'9*<ZR! V4u! S~';Q%(~88&'R! G4u! E7</)Q*?)R! 24! `4u! _~'(9+&'R! F4! 6$8@<&R! G$B9</!2==$;$&+(!`);778d,'*;&%%&-!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%!S)%&-!*+!3&'*;/)+$+&!#/&%4!;AC1,78&%9:,2"#&%1!DU99R!FR!kkkdkif4!
! [gg]! 5$R!^4u!G&R!:4u!_)+R!o4u!5$7R!I4u!^9*7R!X4u!5*+BR!:4u!^7*R!I4u!^9)+BR!34u!D9&+R!I4!6*<7($*+!,'*;&%%).<&!19*-)+$+&dS)%&-!68)<<!3*<&;7<&!C'B)+$;!,9*(*?*<()$;!D&<<%!T$(9!)!,*T&'!D*+?&'%$*+!2==$;$&+;/!*=!g4Lt4!;AC1,78&%9:,2"#&%1!DU9DR!5R!hMdhh4!
! [gh]! ,*@&'&R! S4! D4u! #&<<)! ,&<<&R! "4! 34u! ,*&R! "4u! E9)/78)+)?)+R! 64!3);'*8*<&;7<)'! "';9$(&;(7'&%! =*'! C'B)+$;! ,9*(*?*<()$;%4! =3:.1, -3&41, -3&41, =3:.1!DU9DR!F'R!MKefdMKeh4!
!!
!
! JJ!
0+(1*".'D'
!"&".%)'4"3"4'*8&$&%'$&'#X8(.($&"'!)"#'-,.'$21.,3"!'4$%+*'
+(.3"#*$&%'(&!',1"&'0$.08$*'3,4*(%"'-,.',.%(&$0'1+,*,3,4*($0#'
D:9'$G=E<LKB=A<G'
! C'B)+$;! @9*(*?*<()$;%! [C,`%]! 7+-&'B*! =*7'! 8)W*'! @'*;&%%&%! $+! *'-&'! (*!
;*+?&'(!%*<)'!&+&'B/!$+(*!&<&;('$;$(/O!$]!).%*'@($*+!*=!)!@9*(*+!B&+&')($+B!)+!&Y;$(*+u!
$$]!&Y;$(*+!-$%%*;$)($*+!B&+&')($+B!='&&!;9)'B&!;)''$&'%u!$$$]!;9)'B&!(')+%@*'(!(9'*7B9!
(9&!);($?&!<)/&'u!)+-!$?]!;9)'B&!;*<<&;($*+!)(!(9&!&<&;('*-&%4!!H8@'*?$+B!(9&!&==$;$&+;/!
*=!)!,`!-&?$;&!-*&%!+*(!%$8@</!'&A7$'&!(9&! $8@'*?&8&+(!*=!&);9!%(&@R!.7(!)<%*!(9&!
*@($8$Z)($*+!*=!&);9!%(&@!T$(9!'&%@&;(!(*!(9&!&+($'&!@'*;&%%4!!!
! E*!$8@'*?&!(9&!<$B9(!).%*'.)+;&!*=!(9&!);($?&!<)/&'R! <*T!.)+-B)@!8)(&'$)<%R!
T9$;9!).%*'.!T&<<!$+(*!(9&!+&)'!H1!'&B$*+R!)'&!*=(&+!7($<$Z&-LdM4!!H+!*'-&'!(*!<*T&'!(9&!
.)+-B)@! *=! )! 8)(&'$)<R! &$(9&'! (9&! GC3C! ;)+! .&! ')$%&-! )+-w*'! (9&! 5>3C! ;)+! .&!
<*T&'&-4!!2?&+!(9'*7B9!')$%$+B!(9&!GC3C!T*7<-!'&%7<(!$+!)!<*T!.)+-B)@R!$(!;)+!9)?&!
+&B)($?&! &==&;(%! *+! (9&! -&?$;&! @&'=*'8)+;&4! ! E9&! *@&+! ;$';7$(! ?*<()B&! [`CD]! $%!
-$'&;(</!'&<)(&-!(*!(9&!&+&'B/!<&?&<!-$==&'&+;&!.&(T&&+!(9&!GC3C!*=!(9&!-*+*'!)+-!
(9&!5>3C!*=!(9&!);;&@(*'eRg4! !"%!%&&+!$+!F$B7'&!J4LR!')$%$+B!(9&!GC3C!*=!(9&!-*+*'!
8)(&'$)<! T*7<-! <*T&'! (9&! (9&*'&($;)<! 8)Y$878! `CD! (9)(! ;)+! .&! );9$&?&-4!!
"--$($*+)<</R! ')$%$+B! (9&!GC3C!;)+! )<%*! ;*8@'*8$%&! (9&! *Y$-)($?&! %().$<$(/! *=! (9&!
-*+*'! 8)(&'$)<4! ! "<(&'+)(&</R! <*T&'$+B! (9&! 5>3C! *=! (9&! -*+*'! 8)(&'$)<! T$<<!
;*8@'*8$%&!(9&!&Y;$(*+!-$%%*;$)($*+!@'*;&%%4!!H(!9)%!.&&+!&%($8)(&-!(9)(!$+!*'-&'!=*'!
=);$<&!&Y;$(*+!-$%%*;$)($*+R!(9&!5>3C!*=!(9&!-*+*'!87%(!.&!)(!<&)%(!K4f!&`!).*?&!(9&!
5>3C!*=!(9&!);;&@(*'h4!!E9&'&=*'&!(9$%!&+&'B/!<&?&<!-$==&'&+;&!87%(!.&!@'&%&'?&-4!
!
! Jf!
! D7''&+(</R!8*%(!C,`!-&?$;&%!)'&! =).'$;)(&-!7%$+B! %*8&! =7<<&'&+&!-&'$?)($?&!
)%! (9&! &<&;('*+! );;&@(*'4! ! 3*%(! ;*88*+</R! @9&+/<dDgLd.7(/'$;d);$-d8&(9/<! &%(&'!
[,DgLS3]! )+-!@9&+/<dDhLd.7(/'$;d);$-d8&(9/<! &%(&'! [,DhLS3]! )'&! 7%&-4! ! E9&'&! )'&!
?&'/! =&T!)<(&'+)($?&!+d(/@&!8)(&'$)<%! (9)(! 9)?&! %9*T+!)%!87;9!@'*8$%&! )%! (9&%&R!
)+-! (9&'&=*'&R! (9&! .7'-&+! *=! *@($8$Z)($*+! *=(&+! =)<<%! *+! (9&! -*+*'!8)(&'$)<4! ! H(! $%!
(9&'&=*'&! $8@&')($?&! (9)(! (9&!&+&'B/! <&?&<%!*=! (9&!-*+*'!;)+!.&! (7+&-! (*!*@($8$Z&!
(9&!;9)');(&'$%($;%!*=!(9&!8)(&'$)<R!%7;9!)%!<$B9(!).%*'@($*+!)+-!&Y;$(*+!-$%%*;$)($*+R!
)%!T&<<!)%!-&?$;&!@)')8&(&'%!%7;9!)%!`CD4!!!
! 5*T!.)+-B)@!@*</8&'%!9)?&!.&&+!&Y(&+%$?&</!%(7-$&-!)%!-*+*'!8)(&'$)<%!$+!
C,`%LRMReRkRi4!!#&;'&)%$+B!.)+-B)@!$%!*=(&+!)!'&%7<(!*=!&Y(&+-&-!;*+W7B)($*+!)%!T&<<!)%!
)<(&'+)($+B!-*+*'!)+-!);;&@(*'!8*$&($&%!$+!(9&!.);Q.*+&!*=!(9&!@*</8&'4!!H-&+($=/$+B!
<*T! .)+-B)@! %8)<<! 8*<&;7<&%! $%! *=(&+! 8*'&! @'*.<&8)($;! .&;)7%&! &Y@<*$($+B!
&Y(&+-&-! ;*+W7B)($*+! $%! +*(! )+! *@($*+4! ! 1&;&+(</R! $+?&%($B)($*+! $+(*! (9&! 7%&! *=!
?)'$*7%! -/&! 8*<&;7<&%R! 9)?&! '&?&)<&-! @'*8$%$+B! ;)+-$-)(&%! =*'! %8)<<! 8*<&;7<&!
C,`%JRfRLKdLM4!!!
!F$B7'&! J4LO! 5*T!.)+-B)@!8)(&'$)<%! *==&'! &+9)+;&-! <$B9(! ).%*'@($*+! =*'! *'B)+$;!@9*(*?*<()$;%!-&?$;&%4!!1)$%$+B!(9&!GC3C!*=!(9&!;9'*8*@9*'&!T*7<-!;*8@'*8$%&!(9&!`CD!*=!(9&!'&%7<($+B!-&?$;&4! !E9&!5>3C!;)+!*+</!.&!<*T&'&-!(*!K4f!&`!).*?&!(9&!5>3C!*=!(9&!);;&@(*'!(*!)<<*T!=*'!&Y;$(*+!-$%%*;$)($*+4!!2+&'B/!<&?&<!(7+$+B!$%!&%%&+($)<!=*'!(9&!*@($8$Z)($*+!*=!C,`%4!
!
! JM!
! 6A7)')$+&%! )'&! )! ;<)%%! *=! -/&%! '&%7<($+B! ='*8! (9&! ;*+-&+%)($*+! *=! %A7)'$;!
);$-R! )! %8)<<! )+-! @<)+)'! &<&;('*+! );;&@(*'R! T$(9! (T*! &<&;('*+d-*+)($+B!8)(&'$)<%4!!
6A7)')$+&! -/&%! (/@$;)<</! ;*+%$%(! *=! )! -*+*'d);;&@(*'d-*+*'! ;*+=$B7')($*+!T$(9! )+!
&<&;('*+!-&=$;$&+(!;*'&!=<)+Q&-!./!(T*!&<&;('*+!'$;9!B'*7@%4!!6A7)')$+&!-/&%!(/@$;)<</!
9)?&!)!%('*+B!).%*'.)+;&!$+!(9&!?$%$.<&!(*!+&)'!H1!'&B$*+!*=!(9&!%@&;('78R!T$(9!8*<)'!
&Y($+;($*+! ;*&==$;$&+(%!*+! (9&!*'-&'!*=!LKM! p!LKe!3dL;8dL! LeRLg4! ! 1&;&+(</R! %A7)')$+&!
-/&%! 9)?&! %9*T&-! @'*8$%&! $+! (9&! =$&<-! *=! %8)<<! 8*<&;7<&! @9*(*?*<()$;%! T$(9!
&==$;$&+;$&%!'&);9$+B!gtLLdLMRLhdJK4!!!
D:D'.FCK?=C'@GL'!ACBKCCA<G'
D:D:9'2<?FBK?@E'!FCAHG'
! "! %A7)')$+&! -/&! .)%&-! *+! ('$)'/<)8$+&! -*+*'! 8*<&;7<&%! T)%! '&;&+(</!
@7.<$%9&-! %9*T$+B! @'*8$%$+B! '&%7<(%! =*'! %8)<<!8*<&;7<&!C,`%LLRLf4! ! E9$%!8*<&;7<&!
[6AdE""dG]R!%9*T+!$+!F$B7'&!J4JR!$%!)+!&Y;&<<&+(!;)+-$-)(&!=*'!%(7-/$+B!(9&!&==&;(!*=!
(9&!&+&'B/!<&?&<!(7+$+B!*=!(9&!%8)<<!8*<&;7<&4! !E'$)'/<)8$+&!$%!(/@$;)<</!;*+%$-&'&-!
)%! )! T&)Q! -*+*'4! ! 3*<&;7<&%! ;*8.$+$+B! T&)Q! -*+*'%! )+-! %('*+B! );;&@(*'%! 9)?&!
.&&+! %9*T+! (*! .&! )-?)+()B&*7%! =*'! @7%9d@7<<! %/%(&8%! )+-! (9&'&=*'&! =*'!
@9*(*?*<()$;%JLRJJ4!!!
! H+!*'-&'!(*!(7+&!(9&!&+&'B/!<&?&<%!*=!(9&!%A7)')$+&!%8)<<!8*<&;7<&%R!&<&;('*+!
-*+)($+B!*'!&<&;('*+!T$(9-')T$+B!B'*7@%!9)?&!.&&+!$+%()<<&-!*+(*!(9&!('$)'/<)8$+&!
8*$&($&%4!!H+%()<<$+B!&<&;('*+!-*+)($+B!B'*7@%!*+(*!('$)'/<)8$+&%!9)%!.&&+!%9*T+!(*!
-&%().$<$Z&! (9&!GC3C! &+&'B/! <&?&<4! ! "<(&'+)($?&</R! $+%()<<$+B! &<&;('*+!T$(9-')T$+B!
B'*7@%!9)?&!.&&+!%9*T+!(*!%().$<$Z&!(9&!GC3C!&+&'B/!<&?&<4!!S/!(7+$+B!(9&!%('&+B(9!
!
! Je!
*=!(9&!&<&;('*+!-*+)($+B!*'!&<&;('*+!T$(9-')T$+B!B'*7@%R!(9&!GC3C!&+&'B/!<&?&<!;)+!
.&!(7+&-!*?&'!)!')+B&JfRJM4!!!
! "%! %&&+! $+! F$B7'&! J4JR! (T*! -$==&'&+(! &<&;('*+! -*+)($+B! )+-! &<&;('*+!
T$(9-')T$+B! B'*7@%! T$<<! .&! 7%&-! (*! (7+&! (9&! GC3C! *=! (9&! %A7)')$+&! -/&4! ! E9&!
&Y@&;(&-! ('&+-! $+! GC3C! &+&'B/! <&?&<! %9*7<-! =*<<*T! (9)(! *=! (9&! 8*%(! &<&;('*+!
-*+)($+B!(*!(9&!8*%(!&<&;('*+!T$(9-')T$+BO!6AdE""dCG!�!6AdE""dDgGLf!�!6AdE""dG!
�! 6AdE""dF! �! 6AdE""dDFf4! ! S/! %&<&;($?&</! (7+$+B! (9&! GC3CR! (9&! .)+-B)@! ;)+! .&!
*@($8$Z&-! T9$<&! 8)$+()$+$+B! )@@'*@'$)(&! `CD! )+-! &Y;$(*+! -$%%*;$)($*+4!
!
! E9&! %/+(9&%$%!*=! 6AdE""dG!;)+!.&! %&&+! $+!6;9&8&!J4L4! !fRed-$8&(9*Y/d0R0d
-$@9&+/<)+$<$+&!T)%!%/+(9&%$Z&-!./!)!@)<<)-$78!;)()</Z&-!S7;9T)<-!;*7@<$+B!*=!fRed
-$8&(9*Y/)+$<$+&! )+-! .'*8*.&+Z&+&4! ! fRed-$8&(9*Y/d0R0d-$@9&+/<)+$<$+&! T)%!
-&@'*(&;(&-!T$(9! SS'f! (*! /$&<-! ed[-$@9&+/<)8$+*].&+Z&+&dLRfd-$*<4! ! E9&! 9/-'*Y/<!
B'*7@%! )'&! )! %/+(9&($;! +&;&%%$(/! )%! (9&/! );($?&! (9&! ;)'.*+! .&(T&&+! (9&8! =*'! (9&!
!!F$B7'&!J4JO!3*<&;7<)'!-&%$B+!*=!%A7)')$+&!-/&%!T$(9!(7+).<&!.)+-B)@%!)+-!GC3C!&+&'B/! <&?&<%4! !6AdE""dG!*==&'%!)!;*+('*<!8*<&;7<&! =*'!'&=&'&+;&4! !6AdE""dDgGLf!)+-!6AdE""dCG!)'&!%A7)')$+&!-/&%!T$(9!$+;'&)%$+B!&<&;('*+!-*+*'!%('&+B(94!!6AdE""dF!)+-!6AdE""dDFf!)'&!%A7)')$+&!-/&%!T$(9!$+;'&)%$+B!&<&;('*+!T$(9-')T$+B!%('&+B(94!
!
! Jg!
%7.%&A7&+(! ;*+-&+%)($*+! '&);($*+4! ! E9&!9/-'*Y/<! B'*7@%!*+! (9&! ('$)'/<)8$+&!@<)/!
)+*(9&'!'*<&! $+!(9&!%A7)')$+&!-/&u! (9&!9/-'*Y/<!B'*7@%!)'&!9/-'*B&+!.*+-&-!T$(9!
(9&!*Y$-&%!$+!(9&!;&+(')<!'$+B!'&%7<($+B!$+!)!@<)+)'$Z)($*+!*=!(9&!8*<&;7<&4!!6AdE""dG!
T)%!%/+(9&%$Z&-!./!;*+-&+%)($*+!*=!ed[-$@9&+/<)8$+*].&+Z&+&dLRfd-$*<!)+-!%A7)'$;!
);$-4!!!
! E9&!%/+(9&%$%!*=!6AdE""dCG!;)+!.&!%&&+!$+!6;9&8&!J4J4! !"!;*@@&'!;)()</Z&-!
><<8)++!;*7@<$+B!*=!fRed-$8&(9*Y/)+$<$+&!)+-!$*-*)+$%*<&!=*<<*T&-!./!-&@'*(&;($*+!
T$(9!SS'f!/$&<-%!ed[.$%[Md9/-'*Y/@9&+/<])8$+*].&+Z&+&dLRfd-$*<4! !6AdE""dCG!T)%!
!!6;9&8&!J4LO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!6AdE""dG4!
!!
6;9&8&!J4JO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!6AdE""dCG4!
!
! Jh!
%/+(9&%$Z&-! ./! ;*+-&+%)($*+! *=! ed[.$%[Md9/-'*Y/@9&+/<])8$+*].&+Z&+&dLRfd-$*<!
)+-!%A7)'$;!);$-4!!
! E9&! %/+(9&%$%! *=! 6AdE""dDgGLf! ;)+! .&! %&&+! $+! 6;9&8&! J4f4! ! S$%[Md
9&Y/<@9&+/<])8$+&!T)%!%/+(9&%$Z&-!./!)!@)<<)-$78!;)()</Z&-!S7;9T)<-!;*7@<$+B!*=!
Ld.'*8*dMd9&Y/<.&+Z&+&! )+-! Md9&Y/<)+$<$+&4! ! "! @)<<)-$78! ;)()</Z&-! S7;9T)<-!
;*7@<$+B!*=!Ld.'*8*dfRed-$8&(9*Y/.&+Z&+&!)+-!.$%[Md9&Y/<@9&+/<])8$+&!=*<<*T&-!
./!-&@'*(&;($*+!T$(9!SS'f!/$&<-%!ed[.$%[Md9&Y/<@9&+/<])8$+*].&+Z&+&dLRfd-$*<4!!6Ad
E""dDgGLf! T)%! %/+(9&%$Z&-! ./! ;*+-&+%)($*+! *=! ed[.$%[Md
9&Y/<@9&+/<])8$+*].&+Z&+&dLRfd-$*<!)+-!%A7)'$;!);$-4!! !
!
! E9&!%/+(9&%$%!*=!6AdE""dF!;)+!.&!%&&+!$+!6;9&8&!J4M4!!"!@)<<)-$78!;)()</Z&-!
S7;9T)<-!;*7@<$+B!*=!fRed-$8&(9*Y/)+$<$+&!)+-!Ld.'*8*dMd=<7*'*.&+Z&+&!=*<<*T&-!
./! -&@'*(&;($*+! T$(9! SS'f! /$&<-%! ed[.$%[Md=<7*'*@9&+/<])8$+*].&+Z&+&dLRfd-$*<4!!
6AdE""dF! T)%! %/+(9&%$Z&-! ./! ;*+-&+%)($*+! *=! ed[.$%[Md
=<7*'*@9&+/<])8$+*].&+Z&+&dLRfd-$*<!)+-!%A7)'$;!);$-4!!!
!!6;9&8&!J4fO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!6AdE""dDgGLf4!
!
! Jk!
! E9&! %/+(9&%$%! *=! 6AdE""dDFf! ;)+! .&! %&&+! $+! 6;9&8&! J4e4! ! 0R0d.$%[fRed
.$%[('$=<7*'*8&(9/<]@9&+/<]dfRed-$8&(9*Y/)+$<$+&! T)%! %/+(9&%$Z&-! ./! )! @)<<)-$78!
;)()</Z&-! S7;9T)<-! ;*7@<$+B! *=! fRed-$8&(9*Y/)+$<$+&! )+-! Ld.'*8*dfRed
.$%[('$=<7*'*8&(9/<].&+Z&+&4! !E9&!('$)'/<)8$+&!T)%!-&@'*(&;(&-!T$(9!SS'f! (*!/$&<-!
ed[.$%[fRed.$%[('$=<7*'*8&(9/<]@9&+/<])8$+*].&+Z&+&dLRfd-$*<! T9$;9! T)%!
;*+-&+%&-!T$(9!%A7)'$;!);$-!(*!/$&<-!6AdE""dDFf4!!
!
!!
6;9&8&!J4MO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!6AdE""dF4!
!!
6;9&8&!J4eO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!6AdE""dDFf4!
!
! Ji!
D:D:D',Y=<F?FB=E<GAB'1E<YFE=AFC'
! E9&!).%*'.)+;&!*=!&);9!-/&!T)%!()Q&+!$+!-$;9<*'*8&(9)+&![#D3]!)+-!;)+!.&!
%&&+!$+!F$B7'&!J4f4!!2);9!*=!(9&!-/&%!).%*'.!%$B+$=$;)+(</!)(!<*+B!T)?&<&+B(9%4!!E9$%!$%!
-&%$').<&!)%!$(!.&((&'!*?&'<)@%!T$(9!(9&!%*<)'!$'')-$)+;&!%@&;('784!!E9&!).%*'.)+;&!
%@&;(')! )'&! @<*((&-!T$(9! '&%@&;(! (*! (9&!8*<)'! ).%*'@($?$(/! -&8*+%(')($+B! (9)(! (9&!
&Y($+;($*+!;*&==$;$&+(%!*=!(9&!-/&%!')+B&!='*8!e!Y!LKM!p!J4e!Y!LKe!3dL;8dL4!!!
!
! H(! ;)+! )<%*! .&! %&&+! (9)(! (9&! *+%&(! *=! (9&! ).%*'.)+;&! %9$=(%! (*T)'-%! <*+B&'!
T)?&<&+B(9%!)%!(9&!&<&;('*+!-*+)($+B!;9)');(&'!$+;'&)%&%4!!E9&!).%*'.)+;&!*+%&(!$%!
*=(&+! 7%&-! )%! )+! &%($8)($*+! *=! (9&! .)+-B)@! *=! (9&! 8)(&'$)<4! ! E9$%! =*<<*T%! (9&!
&Y@&;(&-!('&+-!T9&'&!(9&!.)+-!B)@!$+;'&)%&%!$+!(9&!=*<<*T$+B!8)++&'O!6AdE""dDFf!
�!6AdE""dF!�!6AdE""dG!�!6AdE""dDgGLf!�!6AdE""dCG4!!!
! E9&!).%*'.)+;&!%@&;(')!$+!(&(')9/-'*=7')+![EGF]!;)+!.&!%&&+!$+!F$B7'&!J4M4!!
H(!;)+!.&!%&&+!(9)(!T9&+!(9&!-/&%!)'&!-$%%*<?&-!$+!EGFR!)!9$B9d&+&'B/!.)+-!&8&'B&%4!!
!!
F$B7'&! J4fO! 6*<7($*+! ).%*'.)+;&! %@&;(')! *=! (9&! %A7)')$+&! -/&%! $+! #D34! ! E9&!%@&;(')!)'&!@<*((&-!T$(9!'&%@&;(! (*!8*<)'!).%*'@($?$(/! (*!$+-$;)(&!(9&!&Y($+;($*+!;*&==$;$&+(!*=!&);9!-/&4!!H(!;)+!.&!%&&+!(9)(!)%!(9&!&<&;('*+!-*+)($*+!;9)');(&'!*=!(9&!-/&!$%!$+;'&)%&-R!(9&!).%*'.)+;&!'&-!%9$=(%4!
!
! fK!
EGF!$%!;)@).<&!*=!9/-'*B&+!.*+-$+B!T$(9!(9&!9/-'*Y/<!B'*7@%!*+!(9&!('$)'/<)8$+&%4!!
E9$%!;*7<-!@*(&+($)<!'&-7;&!(9&!9/-'*B&+!.*+-$+B!.&(T&&+!(9&!9/-'*Y/<!B'*7@%!)+-!
(9&!%A7)'$;!);$-!;*'&R!'&%7<($+B!$+!(9&!(T$%($+B!*=!(9&!8*<&;7<&4!!H=!(9$%!T&'&!(9&!;)%&R!
(9&+!(9$%!(T$%(!T$<<!;)7%&!)!.'&)Q!$+!(9&!;*+W7B)($*+!'&%7<($+B!$+!)!.<7&!%9$=(&-!@&)Q!
$+! (9&! ).%*'.)+;&4! ! E9&! &8&'B&+;&! *=! (9$%! @&)Q! $%! <&)%(! @'*+*7+;&-! $+!
6AdE""dDgGLf! )+-!8*%(!@'*+*7+;&-! $+!6AdE""dDFfR!T9&'&! (9&! <*T!&+&'B/!@&)Q! $%!
&%%&+($)<</! B*+&! '&@<);&-! ./! )! @&)Q! T$(9! )! q8)Y! *=! )@@'*Y$8)(&</! MKK! +84!!
"--$($*+)<</R! (9&! ;*<*'! *=! (9&! %*<7($*+! ;9)+B&%! ='*8! )! -&&@! .<7&! ;*<*'! T9&+!
-$%%*<?&-!$+!#D3!(*!)!@)<&!/&<<*T!T9&+!-$%%*<?&-!$+!EGF4!!E9$%!@)<&!/&<<*T!;*<*'!$%!
;9)');(&'$%($;!*=!(9&!('$)'/<)8$+&!$(%&<=R!%7BB&%($+B!(9)(!(9&!;9)+B&!$+!;*<*'!$%!-7&!(*!
(9&!.'&)Q!$+!;*+W7B)($*+!'&%7<($+B!='*8!EGF!9/-'*B&+!.*+-$+B!T$(9!(9&!%A7)')$+&!
-/&4!!!
!!
F$B7'&!J4MO!6*<7($*+!).%*'.)+;&!%@&;(')!*=! (9&!%A7)')$+&!-/&%!$+!EGF4! ! H(!;)+!.&!%&&+!(9)(!)!9$B9!&+&'B/!@&)Q!&8&'B&%!)%!)!'&%7<(!*=!(9&!%*<?&+(!9/-'*B&+!.*+-$+B!T$(9! (9&! -/&! )+-! ;)7%$+B! )! .'&)Q! $+! (9&! ;*+W7B)($*+! -7&! (*! (9&! (T$%(! $+! (9&!.);Q.*+&4!!
!
! fL!
! "%!8&+($*+&-!).*?&R! $+;'&)%$+B! (9&!&<&;('*+!T$(9-')T$+B! ;9)');(&'! '&%7<(%!
$+! )! 8*'&! @'*+*7+;&-! 9$B9d&+&'B/! .)+-4! ! E9$%! ;*7<-! .&! )! '&%7<(! *=! (9&! &<&;('*+!
T$(9-')T$+B! B'*7@%! @7<<$+B! &<&;('*+! -&+%$(/! *7(! *=! (9&! ;&+(')<! %A7)')$+&! '$+B!
T&)Q&+$+B!(9&!9/-'*B&+!.*+-!);;&@(*'!%('&+B(9!*=!(9&!*Y$-&%4!!"--$($*+)<</R!@7<<$+B!
&<&;('*+!-&+%$(/!*7(!*=!(9&!@9&+/<!'$+B!)(();9&-!(*!(9&!%A7)')$+&!;*'&!T$<<!8)Q&!(9&!
9/-'*Y/<! B'*7@%! 8*'&! );$-$;! 8)Q$+B! (9&8! %('*+B&'! 9/-'*B&+! .*+-! -*+*'%4!!
E9&'&=*'&R! (9&! 9/-'*Y/<! B'*7@%! T$<<! 8*%(! <$Q&</! 9/-'*B&+! .*+-! T$(9! (9&! EGF!
'&%7<($+B!$+!(9&!.'&)Q!*=!;*+W7B)($*+4!
! E9&! (9$+! =$<8! ).%*'.)+;&! *=! (9&! -/&%R! ;*8@)'&-! (*! (9)(! *=! (9&! %*<7($*+!
).%*'.)+;&R!;)+!.&!%&&+!$+!F$B7'&!J4e4! !H+!)<<!;)%&%!$(!;)+!.&!%&&+!(9)(!(9&!(9$+!=$<8!
).%*'.)+;&! $%! '&-! %9$=(&-! )+-! .'*)-&+&-! ;*8@)'&-! (*! (9&! %*<7($*+! >`4! ! E9$%!
%7BB&%(%!(9)(!(9&'&!$%!%*8&!)BB'&B)($*+!*=!(9&!8*<&;7<&%!$+!(9&!=$<84!!E9&%&!;9)+B&%!
(*! (9&! ).%*'.)+;&! )'&! .&+&=$;$)<! =*'! (9&! <$B9(! 9)'?&%($+B! )%@&;(%! *=! C,`%4!!
"--$($*+)<</R! )BB'&B)($*+! ;)+! 9&<@! T$(9! (9&! ;9)'B&! (')+%@*'(! $+! (9&! );($?&! <)/&'4!
!
!!
F$B7'&! J4eO! E9$+! =$<8! ).%*'.)+;&! *=! (9&! %A7)')$+&! -/&%! )'&! '&-! %9$=(&-! )+-!.'*)-&+&-!)%!;*8@)'&-!(*!(9&!%*<7($*+!).%*'.)+;&!$+!#D34!
!
! fJ!
! "%! ;)+! .&! %&&+! $+! F$B7'&! J4gR! )++&)<$+B! 9)%! ?&'/! <$((<&! &==&;(! *+! *=! (9&!
).%*'.)+;&! *=! (9&! %A7)')$+&! -/&%!T$(9! (9&! &Y;&@($*+! *=! 6AdE""dDgGLf4! ! "<<! *=! (9&!
%A7)')$+&! -/&%! %&&8! (*! .&! ;'/%()<<$+&R! .7(! *+</! 6AdE""dDgGLf! 9)%! %*<7.$<$Z$+B!
B'*7@%4!!E9&%&!B'*7@%!8*%(!<$Q&</!'&*'$&+(!(9&8%&<?&%!-7'$+B!(9&!)++&)<$+B!@'*;&%%!
)<<*T$+B!=*'!=7'(9&'!@);Q$+B!*=!(9&!8*<&;7<&4!!E9&!&==&;(!*=!(9$%!'&*'B)+$Z)($*+!;)+!.&!
%&&+!./!(9&!&8&'B&+;&!*=!(9&!<*T!&+&'B/!@&)Q!$+!(9&!)++&)<&-!=$<8!*=!6AdE""dDgGLf4!!
!
! E9&!GC3C!)+-!5>3C!&+&'B/! <&?&<%!T&'&!-&(&'8$+&-! &<&;('*;9&8$;)<</! ./!
7%$+B! (9$+! =$<8! ;/;<$;! ?*<()88&('/! [D`]! $+! -'/! );&(*+$('$<&! *'! #D3! 7%$+B!
(&(').7(/<)88*+$78! 9&Y)=<7*'*@9*%@9)(&! )%! (9&! %7@@*'($+B! &<&;('*</(&! )+-!
=&''*;&+&! )%! (9&! %()+-)'-4! ! GC3C! )+-! 5>3C! &+&'B/! <&?&<%! T&'&! ;)<;7<)(&-!T$(9!
'&%@&;(!(*!?);778!7%$+B!(9&!@&)Q!*+%&(%!7%$+B!(9&!&A7)($*+%O!
GC3C!�!d[M4k!�!2*Y!*+%&(]!
5>3C!�!d[M4k!�!2'&-!*+%&(]!
!F$B7'&! J4gO! "++&)<$+B! (9&! =$<8%! -*! +*(! )@@&)'! (*! 9)?&! )+/!8)W*'! &==&;(! *+! (9&!).%*'.)+;&!T$(9!(9&!&Y;&@($*+!*=!6AdE""dDgGLf4!!_9&+!6AdE""dDgGLf!$%!)++&)<&-!)!<*T!&+&'B/!@&)Q!&8&'B&%!)(!).*7(!kKK!+84!!E9$%!%7BB&%(%!=7'(9&'!*'B)+$Z)($*+!*=!(9&!=$<8!7@*+!(9&'8)<!)++&)<$+B4!
!
! ff!
E9&%&!&+&'B/! <&?&<%!)'&!%9*T+!$+!F$B7'&!J4h4! !2<&;('*+!-*+)($+B!B'*7@%!'&%7<(! $+!)!
-&%().$<$Z)($*+!*=!(9&!GC3C!&+&'B/!<&?&<!)%!)!'&%7<(!*=!@7%9$+B!&<&;('*+!-&+%$(/!$+(*!
)+! )<'&)-/! &<&;('*+! '$;9! %/%(&84! ! E9$%! ;)7%&%! )! ')$%&! $+! (9&! GC3C4! ! 2<&;('*+!
T$(9-')T$+B!B'*7@%!'&%7<(!$+!)!%().$<$Z)($*+!*=!(9&!GC3C!&+&'B/!<&?&<!)%!)!'&%7<(!*=!
'&8*?$+B!%*8&!*=!(9&!&<&;('*+!-&+%$(/!='*8!(9&!&<&;('*+!'$;9!%/%(&84!!E9$%!;)7%&%!)!
-&;'&)%&! $+! (9&! GC3C4! ! E9&! 5>3C! &+&'B/! <&?&<%! )'&! +*(! )==&;(&-! )%! 87;9! )+-!
(9&'&=*'&! (9&!.)+-!B)@! $+;'&)%&%!8*?$+B! ='*8! <&)%(!&<&;('*+!T$(9-')T$+B! (*!8*%(!
&<&;('*+!T$(9-')T$+B4! ! H(! %9*7<-! .&! +*(&-! (9)(! (9&! GC3C! &+&'B/! <&?&<! *=! (9&! 6Ad
E""dDFf! 8*<&;7<&! ;*7<-! +*(! .&! ;)<;7<)(&-! &<&;('*;9&8$;)<</4! ! D9)+B&%! $+! (9&!
%*<7.$<$(/! )+-! (9&! ;*<*'! *=! (9&! 8*<&;7<&! %7BB&%(! (9)(! (9&'&! $%! )! ;9&8$;)<! ;9)+B&!
*;;7''$+B!7@*+!*Y$-)($*+4! !H(!9)%!.&&+!%9*T+!$+!<$(&')(7'&!(9)(!T9&+!('$)'/<)8$+&%!
T$(9! &<&;('*+! T$(9-')T$+B! B'*7@%! )'&! *Y$-$Z&-R! -$8&'$Z)($*+! $%! 8*'&! ;*88*+
!
-7&!(*!(9&!&)%&!*=!-&@'*(*+)($*+!*=!(9&!')-$;)<!;)($*+Je4!!E9&'&=*'&!(9&!GC3C!&+&'B/!
<&?&<!*=!6AdE""dDFf! $%!;)<;7<)(&-!7%$+B!(9&!*@($;)<!.)+-!B)@4! !E9&!*@($;)<!.)+-!B)@!
!!
F$B7'&! J4hO! GC3C! )+-! 5>3C! &+&'B/! <&?&<%! *=! (9&! %A7)')$+&! -/&%! ;)<;7<)(&-!&<&;('*;9&8$;)<</! ;*8@)'&-! (*! =&''*;&+&4! ! 5>3C! *=! DFf! $%! &%($8)(&-! ='*8! (9&!*@($;)<!.)+-B)@4!!E9&!.)+-B)@!$%!(7+&-!./!?)'$)($*+%!$+!(9&!GC3C!&+&'B/!<&?&<%R!T9$<&!(9&!5>3C!&+&'B/!<&?&<%!'&8)$+!'&<)($?&</!;*+%()+(4!
!
! fM!
;)+!.&!&%($8)(&-!='*8!(9&!*+%&(!*=!(9&!).%*'.)+;&!%@&;(')!7%$+B!(9&!&A7)($*+!2B*@(!�!
LJMK!&`!+8wq*+%&(4!!67.(');($+B!(9&!.)+-!B)@!='*8!(9&!&<&;('*;9&8$;)<</!-&(&'8$+&-!
5>3C!&+&'B/!<&?&<!B$?&%!(9&!GC3C!&+&'B/!<&?&<4!!!
D:D:M'0;@EHF'*E@GCY<E='1E<YFE=AFC'
! "<<! *=! (9&! %A7)')$+&! -/&%! T&'&! $+?&%($B)(&-! =*'! (9&$'! ;9)'B&! (')+%@*'(!
@'*@&'($&%!7%$+B!.*((*8!;*+();(!=$&<-!&==&;(!(')+%$%(*'%4!!E9&!-&?$;&%!T&'&!8&)%7'&-!
.*(9! .&=*'&! )+-! )=(&'! )++&)<$+B! )(! ?)'$*7%! ;9)++&<! <&+B(9%4! ! "<<! 8*<&;7<&%! T&'&!
$+?&%($B)(&-!.*(9!=*'!+d(/@&!)+-!@d(/@&!8*.$<$(/4!
! 6AdE""dCG! T)%! =*7+-! (*! .&! %('$;(</! 9*<&! (')+%@*'($+B4! ! E9&! )?&')B&!
8&)%7'&-!8*.$<$($&%!)'&!'&@*'(&-!$+!E).<&!J4L4!!"%!(9&!;9)++&<!<&+B(9!$+;'&)%&%R!(9&!
8*.$<$(/!-&;'&)%&%4! !E9$%! $%!*=(&+!%&&+!$+!=$<8%!(9)(!9)?&!-&=&;(%R!T9$;9!*=(&+!)'$%&!
='*8! (9&! )((&8@(! (*! %@$+! ;*)(!8*<&;7<&%! (9)(! )'&! ;'/%()<<$+&4! ! E9&! ;9)++&<! <&+B(9
!
'&@'&%&+(%! (9&! -$%()+;&! (9)(! (9&! ;9)'B&! 87%(! (')?&<! .&(T&&+! (9&! %*7';&! )+-! (9&!
-')$+!&<&;('*-&4! !E9&! <)'B&'!-$%()+;&! $+;'&)%&%! (9&!@'*.).$<$(/! (9)(! (9&!;9)'B&!T$<<!
'&);9!)!-&=&;(!*'!)!(')@!<*T&'$+B!(9&!*?&')<<!8*.$<$(/4! !"++&)<$+B!(9&!=$<8!-*&%!+*(!
!!
E).<&! J4LO!"?&')B&!9*<&!8*.$<$($&%! )+-!%()+-)'-! -&?$)($*+%! *=! 6AdE""dCG!EFE%!T$(9!?)'/$+B!;9)++&<!<&+B(9%4!!!
!
! fe!
%9*T!)+/!8)W*'!;9)+B&%!$+-$;)($+B!(9)(!(9&'&!$%!+*!8)W*'!'&*'B)+$Z)($*+!)%!)!'&%7<(!
*=!(9&!)++&)<$+B4!!!
! 6AdE""dDgGLf! T)%! =*7+-! (*! .&! %('$;(</! 9*<&! (')+%@*'($+B4! ! E9&! )?&')B&!
8&)%7'&-!8*.$<$($&%!)'&!'&@*'(&-!$+!E).<&!J4J4! !"++&)<$+B!(9&!=$<8!'&%7<(%!$+!8)W*'!
$+;'&)%&%! $+! (9&! 9*<&! 8*.$<$(/! %7BB&%($+B! )! %$B+$=$;)+(! '&*'B)+$Z)($*+! *=! (9&! =$<8
!
7@*+!)++&)<$+B4!!E9$%!'&*'B)+$Z)($*+!;)+!)<%*!.&!%&&+!$+!(9&!).%*'.)+;&!*=!(9&!=$<8%!
T9&'&!)++&)<$+B!(9&!6AdE""dDgGLf!=$<8!%9*T%!(9&!&8&'B&+;&!*=!)!<*+B!T)?&<&+B(9!
@&)Q4!!
! 6AdE""dG!T)%!=*7+-!(*!.&!%('$;(</!9*<&!(')+%@*'($+B4!!E9&!)?&')B&!8&)%7'&-!
8*.$<$($&%!)'&!'&@*'(&-!$+!E).<&!J4f4!!6$8$<)'!(*!(9&!6AdE""dCG!(')+%$%(*'R!)++&)<$+B!
(9&! =$<8! -*&%! +*(! %9*T! )+/! 8)W*'! ;9)+B&%! $+-$;)($+B! (9)(! (9&'&! $%! +*! 8)W*'!
'&*'B)+$Z)($*+!)%!)!'&%7<(!*=!(9&!)++&)<$+B4!!
!!
E).<&!J4JO!"?&')B&!9*<&!8*.$<$($&%!)+-!%()+-)'-!-&?$)($*+%!*=!6AdE""dDgGLf!EFE%!T$(9!?)'/$+B!;9)++&<! <&+B(94! !E9&!8*.$<$(/! $+;'&)%&-!T$(9!)++&)<$+B!;*+=$'8$+B!(9&!$+;'&)%&!$+!*'B)+$Z)($*+!(9)(!T)%!%&&+!$+!(9&!)++&)<&-!(9$+!=$<8!).%*'.)+;&4!!!
!
! fg!
! 6AdE""dF!T)%! =*7+-! (*!.&!)8.$@*<)'R!8&)+$+B! (9)(! $(! %9*T%!.*(9!9*<&!)+-!
&<&;('*+!8*.$<$(/4! !E9&!)?&')B&!8&)%7'&-!8*.$<$($&%!)'&!'&@*'(&-!$+!E).<&!J4M4! !6Ad
E""dDFf! T)%! =*7+-! (*! .&! %('$;(</! &<&;('*+! (')+%@*'($+B4! ! E9&! )?&')B&! 8&)%7'&-
!
8*.$<$($&%!)'&!'&@*'(&-!$+!E).<&!J4e4!!H+!<$(&')(7'&R!%A7)')$+&!-/&%!9)?&!.&&+!7($<$Z&-!
)%! 9*<&! (')+%@*'(&'%! ')(9&'! (9)+! &<&;('*+! (')+%@*'(&'%4! ! G*T&?&'R! $(! $%! +*(!
7+;*88*+!$+!<$(&')(7'&!(*!%&&!(9)(!$+%()<<$+B!=<7*'$+&!)(*8%!$+(*!)!9*<&!(')+%@*'($+B!
!!
E).<&!J4fO!"?&')B&!9*<&!8*.$<$($&%!)+-!%()+-)'-!-&?$)($*+%!*=!6AdE""dG!EFE%!T$(9!?)'/$+B!;9)++&<!<&+B(94!!!
!!
E).<&!J4MO!"?&')B&!)]!9*<&!)+-!.]!&<&;('*+!8*.$<$($&%!)+-!%()+-)'-!-&?$)($*+%!*=!6AdE""dF!EFE%!T$(9!?)'/$+B!;9)++&<!<&+B(94!!H(!9)%!.&&+!%9*T+!$+!<$(&')(7'&!(9)(!$+%()<<$+B!=<7*'$+&!B'*7@%!*+(*!)!@d(/@&!%&8$;*+-7;(*'!*=(&+!'&%7<(%!$+!)8.$@*<)'!*'!&<&;('*+!(')+%@*'(!.&9)?$*'4!!!
!
! fh!
-/&! '&%7<(%! $+! )! ;9)+B&! $+! (9&! ;9)'B&! ;)''$&'! 8*.$<$(/JgdfL4! ! 6&?&')<! @)@&'%! 9)?&!
)(('$.7(&-!)!;9)+B&!$+!;9)'B&!;)''$&'!8*.$<$(/!(*!(9&! <*T&'$+B!*=!(9&!5>3C!&+&'B/!
<&?&<R! )<<*T$+B! =*'! &)%$&'! '&-7;($*+R! (97%! *@&+$+B! 7@! (9&! &<&;('*+! (')+%@*'($+B
!
;9)++&<fK4!!6$8$<)'!(*!(9&!%A7)')$+&!-/&%!'&@*'(&-!9&'&R!$(!9)%!.&&+!%9*T+!(9)(!(9$%!
@9&+*8&+*+! )<%*! *;;7'%!T9&+! (9&! 5>3C! &+&'B/! <&?&<! $%! '&<)($?&</! 7+)==&;(&-! ./!
$+%()<<$+B!=<7*'$+&!)(*8%Ji4!!#&%@$(&!(9&!%&?&')<!'&@*'(&-!8*<&;7<&%!(9)(!&Y9$.$(!(9$%!
!;9)+B&R!(9&!;)7%&!$%!%($<<!7+Q+*T+4!!!
! H+!)((&8@(%!(*!-&(&'8$+&!(9&!;)7%&!*=!(9&!;9)+B&!$+!(9&!@*<)'$(/!*=!(9&!;9)'B&!
;)''$&'R!(9&!8*<&;7<&%!T&'&!$+?&%($B)(&-!./!#FE!7%$+B!:)7%%$)+!JKKifJ!T$(9!Sf5I,!
<&?&<!*=!(9&*'/!)+-!)!gdfLLB[-R@]!.)%$%!%&(4!!E9&!;)<;7<)(&-!%7'=);&%!*=!(9&!GC3C!)+-!
5>3C!&+&'B/!<&?&<%!=*'!6AdE""dCG!)+-!6AdE""dDFf!)'&!%9*T+!$+!F$B7'&!J4k4!!E9&'&!
-*&%! +*(! )@@&)'! (*! .&! )+/!8)W*'! -$==&'&+;&! $+! (9&! GC3C! *'! 5>3C! &+&'B/! <&?&<%!
7@*+! $+%()<<)($*+! *=! (9&! =<7*'$+&! )(*8%4! ! F7'(9&'! $+?&%($B)($*+! $+(*! (9$%! ;9)+B&! $+!
;9)'B&!;)''$&'!@*<)'$(/!$%!(9&'&=*'&!+&;&%%)'/!(*!7+-&'%()+-!(9&!&==&;(!(9)(!=<7*'$+&!
!!
E).<&!J4eO!"?&')B&!&<&;('*+!8*.$<$($&%!)+-!%()+-)'-!-&?$)($*+%!*=!6AdE""dDFf!EFE%!T$(9!?)'/$+B!;9)++&<!<&+B(94!!!
!
! fk!
)(*8%!9)?&!*+!(9&!%A7)')$+&!-/&%4! !
!
D:D:O'1;<=<><?=@AB'1E<YFE=AFC'
! H+!*'-&'!(*!-&(&'8$+&!(9&!@9*(*?*<()$;!@'*@&'($&%!*=!(9&%&!-/&%R!.*(9!.$<)/&'!
)+-! .7<Q! 9&(&'*W7+;($*+! -&?$;&%! 9)?&! .&&+! $+?&%($B)(&-4! ! S$<)/&'! -&?$;&%! )'&!
=).'$;)(&-!./!%@$+!;*)($+B!)!%*<7($*+!*=!(9&!%A7)')$+&!-/&!*+(*!)+!$+-$78!($+!*Y$-&d
B<)%%! [HECdB<)%%]! %7.%(')(&! =*<<*T&-! ./! %7.%&A7&+(! (9&'8)<! &?)@*')($*+! *=! (9&!
);;&@(*'!8*<&;7<&!)+-!)<78$+78!&<&;('*-&%4!!S$<)/&'!-&?$;&%!)'&!=).'$;)(&-!./!%@$+!
;*)($+B! )! %*<7($*+! *=! %A7)')$+&! -/&! )+-! );;&@(*'! *+(*! )+! HECdB<)%%! %7.%(')(&!
=*<<*T&-!./!(9&!&?)@*')($*+!*=!)<78$+78!&<&;('*-&%4!
! E9&! Xd`! ;7'?&%! =*'! (9&! .$<)/&'! -&?$;&%! *=! 6AdE""dCGO,DgLS3R! 6AdE""d
GO,DgLS3R!)+-!6AdE""dFO,DgLS3!;)+!.&!%&&+!$+!F$B7'&!J4k!)R!.R!)+-!;R!'&%@&;($?&</4!!
!!
F$B7'&!J4kO!GC3C!)+-!5>3C!&+&'B/!<&?&<%!*=!6AdE""dCG!)+-!6AdE""dDFf!)%!-&(&'8$+&-!(9&*'&($;)<</!./!#FE!7%$+B!:)7%%$)+!Ki!T$(9!Sf5I,!<&?&<!*=!(9&*'/!)+-!gdfLLB[-R!@]!.)%$%!%&(4!!
!
! fi!
"!%788)'/!*=!(9&!,`!@)')8&(&'%!;)+!.&!%&&+!$+!E).<&!J4g4!!E9&!6AdE""dCGO,DgLS3!
-&?$;&! 9)%! (9&! <*T&%(! `CD!8*%(! <$Q&</! -7&! (*! $(%! -&%().$<$Z&-! GC3C! &+&'B/! <&?&<4!!
E9$%! ;*7<-! .&! *+&! *=! (9&! '&)%*+%! (9)(! (9&! 6AdE""dCGO,DgLS3! -&?$;&! 9)%! <*T&'!
&==$;$&+;/!(9)+!(9&!6AdE""dGO,DgLS3!-&?$;&!-&%@$(&!(9&!<*T&'!.)+-B)@!*=!6AdE""d
CG4! ! E9&! 6AdE""dGO,DgLS3! -&?$;&! )+-! 6AdE""dFO,DgLS3! -&?$;&! 9)?&! 9$B9&'! `CD!!
(9)+! 6AdE""dCGO,DgLS3!-7&! (9&$'!8*'&! %().$<$Z&-!GC3C!&+&'B/! <&?&<%4! ! 6AdE""d
GO,DgLS3!9)%!)!9$B9&'!&==$;$&+;/!(9)+!6AdE""dFO,DgLS34!!E9$%!;*7<-!'&%7<(!='*8!(9&!
<)'B&'!.)+-B)@!*=!6AdE""dF!-&%@$(&!(9&!%$8$<)'!`*;4!!
!F$B7'&!J4iO!Xd`!;7'?&%!*=!.$<)/&'!C,`!-&?$;&%!*=!)]!6AdE""dCGR!.]!6AdE""dGR!)+-!;]!6AdE""dF!T$(9!,DS34!
!
! MK!
!
! F$B7'&!J4i! %9*T%! (9&! ;7''&+(!-&+%$(/!?%4! ?*<()B&! [Xd`]! ;9)');(&'$%($;%!*=! (9&!
6AdE""dCGO,DhLS3! .7<Q! 9&(&'*W7+;($*+! -&?$;&! 7+-&'! LKK! 8_;8dJ! "3! L4e!
%$87<)(&-!%*<)'!$'')-$)($*+!;*+-$($*+%4!!>%$+B!,DhLS3!)+-!LRkd-$$*-**;()+&![#HC]R!)!
%*<?&+(!)--$($?&R!$8@'*?&%!(9&!&==$;$&+;/!(*!+&)'</!et4!!E9&!%)8@<&%!&Y9$.$(!)!%9*'(d
;$';7$(!;7''&+(!-&+%$(/![X6D]!*=!LJ4eg!8";8dJR!)+!*@&+d;$';7$(!?*<()B&![`CD]!*=!K4hi!`!
)+-! )! =$<<! =);(*'! [FF]! *=! Mh4it!T9$;9! <&)-! (*! )! @*T&'! ;*+?&'%$*+! &==$;$&+;/! [�]! *=!
!!E).<&!J4gO!6788)'/!*=!(9&!@)')8&(&'%!*=!(9&!.$<)/&'!C,`!-&?$;&%4!!H(!;)+!.&!%&&+!(9)(! (9&!&==$;$&+;/!*=!6AdE""dG!$%! (9&!9$B9&%(4! !E9&! <*T&%(!`CD! $%! =*'!6AdE""dCG!T9$;9!$%!&Y@&;(&-!='*8!(9&!GC3C!&+&'B/!<&?&<4!
!F$B7'&!J4LKO!Xd`!;7'?&!*=!6AdE""dCGO!,DhLS3!.7<Q!9&(&'*W7+;($*+!-&?$;&4!!C@($8$Z&-!&==$;$&+;/!$%!)!'&%7<(!*=!)!8$Y&-!%*<?&+(!%/%(&8![EGFO!DSR!hKOfK]!)+-!%*<?&+(!)--$($?&![#HCR!K4M!?*<t]4!
!
! ML!
�M4kJt4!!S7<Q!9&(&'*W7+;($*+!-&?$;&%!*==&'!)-?)+()B&%!*?&'!.$<)/&'!-&?$;&%!.&;)7%&!
*=! (9&! $+;'&)%&-! -*+*'d);;&@(*'! $+(&'=);$)<! )'&)4! ! E9$%! $8@'*?&%! (9&! &Y;$(*+!
-$%%*;$)($*+!*=!(9&!-&?$;&R!)%!)+!&Y;$(*+!$%!8*'&!<$Q&</!(*!'&);9!)+!$+(&'=);&!T$(9$+!$(%!
<$=&($8&!$+!(9&!.7<Q!9&(&'*W7+;($*+!)';9$(&;(7'&4!!E9$%!;*7<-!.&!(9&!;)7%&!*=!(9&!8)W*'!!
$+;'&)%&!$+!&==$;$&+;/4! !S7<Q!9&(&'*W7+;($*+!-&?$;&%!*=!(9&!*(9&'!%A7)')$+&!-/&%!)'&!
;7''&+(</!7+-&'!$+?&%($B)($*+4! !
D:M'#KNN@EP''
! 6A7)')$+&!-/&%!)'&!@'*8$%$+B!8*<&;7<&%!=*'!7%&!$+!*'B)+$;!&<&;('*+$;!-&?$;&%4!!
E9&/!9)?&!%7.%()+($)<!).%*'.)+;&! $+!(9&!?$%$.<&! (*!+&)'! H1!'&B$*+4! !6A7)')$+&!-/&%!
7($<$Z$+B!&<&;('*+!'$;9! ('$)'/<)8$+&!8*$&($&%!*==&'!)!7+$A7&!@<)(=*'8! =*'! (7+$+B! (9&!
&+&'B/! <&?&<%! *=! (9&! %A7)')$+&! -/&4! ! H+%()<<$+B! &<&;('*+! -*+)($+B! *'! &<&;('*+!
T$(9-')T$+B! B'*7@%! *+(*! ('$)'/<)8$+&! -*+*'%! '&%7<(%! $+! %A7)')$+&%! T$(9! (7+).<&!
GC3C!&+&'B/!<&?&<%4!!E7+).<&!&+&'B/!<&?&<%!)<<*T!=*'!*@($8$Z)($*+!*=!@9*(*?*<()$;%!
@)')8&(&'%!%7;9!)%! <$B9(!9)'?&%($+B!)+-!`*;4! !E9&!(9$+! =$<8!).%*'.)+;&!*=! (9&!-/&%!
)'&!'&-!%9$=(&-!)+-!.'*)-&+&-!T$(9!'&%@&;(!(*!(9&!%*<7($*+!)%!)!'&%7<(!*=!)BB'&B)($*+!
)+-!*'B)+$Z)($*+!*=!(9&!8*<&;7<&%4! !6AdE""dDgGLf!%9*T%!=7'(9&'!*'B)+$Z)($*+!7@*+!
)++&)<$+B!8*%(!<$Q&</!*T$+B!(*!(9&!)<Q/<!;9)$+%4!!E9$%!8)/!*==&'!)--&-!.&+&=$(%!$+!(9&!
<$B9(!9)'?&%($+B!)+-!;9)'B&!8*.$<$(/!*=!,`!-&?$;&%4!!E')-$($*+)<</R!%A7)')$+&!-/&%!)'&!
9*<&! (')+%@*'($+B! .7(! $+%()<<$+B! =<7*'$+&! )(*8%! *+(*! (9&! ('$)'/<)8$+&%! '&%7<(%! $+!
)8.$@*<)'! (')+%@*'(! =*'! 6AdE""dF! )+-! &<&;('*+! (')+%@*'(! =*'! 6AdE""dDFf4!!
,'&<$8$+)'/! @9*(*?*<()$;! -&?$;&%! 9)?&! %9*T+! (9)(! (7+$+B! (9&! &+&'B/! <&?&<%! *=! (9&!
-/&%!-*&%!)==&;(!(9&!`*;!*=!(9&!'&%7<($+B!-&?$;&4!!F7(7'&!T*'Q!T$<<!=*;7%!*+!$-&+($=/$+B!
!
! MJ!
)+! )@@'*@'$)(&! );;&@(*'!8*<&;7<&! )+-!-&?$;&! )';9$(&;(7'&! =*'! -&?$;&! *@($8$Z)($*+!
)+-! (*! -&(&'8$+&! (9&! &==&;(! *=! &<&;('*+! -*+)($+B! *'! T$(9-')T$+B! B'*7@%! *+! <$B9(!
9)'?&%($+BR!`*;R!)+-!,D24!!!
D:O'"IYFEANFG=@?'
D:O:9'#PG=;FCAC'<J'MZQ/LANF=;<IP/&Z&/LAY;FGP?@GA?AGF'
!
! fRed-$8&(9*Y/d0R0d-$@9&+/<)+$<$+&! T)%! %/+(9&%$Z&-! 7%$+B! )! @'&?$*7%</!
'&@*'(&-! @'*;&-7'&LL4! ! ,-J[-.)]f! [K4g! BR! K4Kge! 88*<]R! ,[(S7]fGSFM! [K4fk! BR! L4fL!
88*<]R!)+-!0)C(S7![f4hg!BR!fi4Lh!88*<]!T)%!%7%@&+-&-!$+!Je!85!-&B)%%&-!(*<7&+&!
)+-! %($''&-! )(! '**8! (&8@&')(7'&! =*'! LK!8$+%4! ! fRed-$8&(9*Y/)+$<$+&! [J4K! BR! Lf4Kg!
88*<]! )+-! .'*8*.&+Z&+&! [M4e! BR! Jk4hJ!88*<]!T&'&! )--&-! )+-! (9&! '&);($*+!T)%!
'&=<7Y&-!*?&'+$B9(4!!E9&!(*<7&+&!T)%!'&8*?&-!7+-&'!?);778!)+-!(9&!;'7-&!@'*-7;(!
T)%!@7'$=$&-!*+!D*8.$F<)%9![hft]4!!LG!031![MKK3GZR!);&(*+&d-g]O!�!h4Ji![(R!MGR!X!�!
k!GZR!)]R!h4Kg[8R!gGR!.w;]R!g4Li![(R!LGR!X!�!M!GZR!-]R!g4Le![-R!JGR!X!�!M!GZR!&]R!f4gh![%R!gGR!
=]4!
N
MeO OMe
a
a a
a
b bc
c
c
c
d
e e
f f
!
! Mf!
D:O:D'#PG=;FCAC'<J'Q/[LAY;FGP?@NAG<\]FG^FGF/9ZM/LA<?'
!
! ed[-$@9&+/<)8$+*].&+Z&+&dLRfd-$*<! T)%! %/+(9&%$Z&-! ='*8! )! @'&?$*7%</!
'&@*'(&-! @'*;&-7'&LL4! ! fRed-$8&(9*Y/d0R0d-$@9&+/<)+$<$+&! [f4e! BR! LL4e!88*<]!T)%!
-$%%*<?&-!$+!JK!85!#D34!!E9&!8$Y(7'&!T)%!@<);&-!$+!)!-'/!$;&!p!);&(*+&!;**<$+B!.)(9!
=*'! %&?&')<! 8$+7(&%4! ! SS'f! [J4J! 85R! Jf! 88*<]! T)%! )--&-! )+-! (9&! '&);($*+! T)%!
)<<*T&-! (*! %($'! *?&'+$B9(! ;*8$+B! (*! '**8! (&8@&')(7'&4! ! E9&! 8$Y(7'&! T)%! (9&+!
@*7'&-! $+(*!JKK!85!T)(&'!;**<&-! $+!)+! $;&!.)(94! !E9&! '&);($*+!T)%!&Y(');(&-! $+(*!
#D3R! -'$&-! *?&'! %*-$78! %7<=)(&! )+-! (9&! #D3!T)%! '&8*?&-! 7+-&'! ?);7784! ! E9&!
@'*-7;(!T)%! 7%&-!T$(9*7(! =7'(9&'! @7'$=$;)($*+4! ! LG!031! [MKK3GZR! );&(*+&d-g]O! �!
h4Jk![(R!MGR!X!�!k!GZR!)]R!h4KM![8R!gGR!.w;]R!g4Kg![%R!LGR!-]R!g4KK![%R!JGR!&]4!
D:O:M'#PG=;FCAC'<J'DZO/]AC[O/[LAY;FGP?@NAG<\/DZR/LA;PLE<IPY;FGP?\BPB?<]K=@/
9ZM/LAFGF/9ZM/]AC[<?@=F\'[#_/*((/+\'
!
! 6AdE""dG! T)%! %/+(9&%$Z&-! 7%$+B! )! @'&?$*7%</! '&@*'(&-! @'*;&-7'&LL4! ! ed
[-$@9&+/<)8$+*].&+Z&+&dLRfd-$*<![eKK!8BR!L4k!88*<]!)+-!%A7)'$;!);$-![LKf!8BR!K4i!
88*<]!T)%!-$%%*<?&-!$+!e!85!(*<7&+&!)+-!e!85!+dS7CG!)+-!'&=<7Y&-!*?&'+$B9(4!!E9&!
%*<$-! @'&;$@$()(&! T)%! ;*<<&;(&-! )+-! T)%9&-! T$(9! 8&(9)+*<! [gLt]4! ! LG! 031!
HO OH
Na
a a
a
b
b b
b
c c
d
e e
O
O
OH
OH
N N
HO
HO
2+
a a
b
b
b
b
c
c
dee
aab
b
b
b
c
c
d
ee
d
d d
d
d
d
!
! MM!
[MKK3GZR!D#D<f]O!�!LK4ik![%R!MGR!)]R!h4fk![(R!kGR!X!�!k!GZR!.]R!h4Jh![(R!MGR!X!�!k!GZR!;]R!
h4JL![-R!kGR!X!�!k!GZR!-]R!e4kg![%R!MGR!&]4!
D:O:O'#PG=;FCAC'<J'&Z&/]AC[O/J?K<E<Y;FGP?\/MZQ/LANF=;<IP@GA?AGF'
!
! ,-J[-.)]f![K4gM!BR!K4Kh!88*<]R!,[(S7]fGSFM![K4fk!BR!L4f!88*<]R!)+-!0)C(S7!
[f4k!BR!fi4f!88*<]!T&'&!%7%@&+-&-!$+!Je!85!-&B)%%&-!(*<7&+&!)+-!%($''&-!)(!'**8!
(&8@&')(7'&!=*'!LK!8$+%4!!Ld.'*8*dMd=<7*'*.&+Z&+&![f4L!85R!Jk4k!88*<]!T)%!)--&-!
)+-!(9&!'&);($*+!T)%!9&)(&-!(*!gK!�D!)+-!%($''&-!=*'!LK!8$+%4!!fRed-$8&(9*Y/)+$<$+&!
[J4K!BR!Lf4L!88*<]!T)%!)--&-!)+-!(9&!'&);($*+!T)%!'&=<7Y&-!*?&'+$B9(4!!E9&!(*<7&+&!
T)%! '&8*?&-! 7+-&'! ?);778! )+-! (9&! ;'7-&! @'*-7;(! T)%! @7'$=$&-! *+! D*8.$F<)%9!
[ght]4!!LG!031![MKK3GZR!D#D<f]O!�!h4KM![-R!MGR!X!�!k!GZR!)]R!g4ig![-R!MGR!X!�!k!GZR!.]R!
g4LK! [%R! fGR! ;]R! f4gk! [%R! gGR! -]4! ! LfD!031! [LKK3GZR! D#D<f]O! �! LgL4MR! LgK4fR! Leh4iR!
LMi4iR!LMf4hR!LMf4hR!LJg4gR!LJg4eR!LLg4fR!LLg4KR!LKL4KR!iM4JR!ee4f4!!8wZ!;)<;7<)(&-!=*'!
DJKGLhFJ0CJO!fML4L!=*7+-!./!F"SO!fML4L4!
D:O:Q'#PG=;FCAC'<J'Q/[]AC[O/J?K<E<Y;FGP?\@NAG<\]FG^FGF/9ZM/LA<?'
!
MeO OMe
N
F F
a
a a
a
b
b b
b
c
c
d
c
d
HO OH
N
F F
a
a a
a
b
b b
b
c
d d
!
! Me!
! 0R0d.$%[Md=<7*'*@9&+/<]dfRed-$8&(9*Y/)+$<$+&! [J4K! BR! e4i! 88*<]! T)%!
-$%%*<?&-!$+!JK!85!#D34!!E9&!8$Y(7'&!T)%!@<);&-!$+!)!-'/!$;&!p!);&(*+&!;**<$+B!.)(9!
=*'! %&?&')<! 8$+7(&%4! ! SS'f! [L4J!85R! LL4k!88*<]! T)%! )--&-! )+-! (9&! '&);($*+! T)%!
)<<*T&-! (*! %($'! *?&'+$B9(! ;*8$+B! (*! '**8! (&8@&')(7'&4! ! E9&! 8$Y(7'&! T)%! (9&+!
@*7'&-! $+(*!JKK!85!T)(&'!;**<&-! $+!)+! $;&!.)(94! !E9&! '&);($*+!T)%!&Y(');(&-! $+(*!
#D3R! -'$&-! *?&'! %*-$78! %7<=)(&! )+-! (9&! #D3!T)%! '&8*?&-! 7+-&'! ?);7784! ! E9&!
@'*-7;(!T)%! 7%&-!T$(9*7(! =7'(9&'! @7'$=$;)($*+4! ! LG!031! [MKK3GZR! );&(*+&d-g]O! �!
h4Kk![-R!kGR!!X!�!k!GZR!)w.]R!g4KJ![(R!LGR!X!�!M!GZR!;]R!e4iJ![-R!JGR!X!�!M!GZR!-]4!!LfD!031!
[LKK3GZR! D#D<f]O! �! JKg4MR! LgK4iR! Lei4iR! Lek4eR! LeK4hR! LMM4iR! LMM4iR! LJh4MR! LJh4MR!
LLg4kR! LLg4gR! LKL4iR! ik4K4! ! 8wZ! ;)<;7<)(&-! =*'! DJKGLhFJ0CJO! fLf4L! =*7+-! ./! F"SO!
fLf4L4!
D:O:R'#PG=;FCAC'<J'DZO/]AC[O/[]AC[O/J?K<E<Y;FGP?\@NAG<\/DZR/
LA;PLE<IPY;FGP?\BPB?<]K=@/9ZM/LAFGF/9ZM/]AC[<?@=F\'[#_/*((/-\'
!
! ed[.$%[Md=<7*'*@9&+/<])8$+*].&+Z&+&dLRfd-$*<! [eKK! 8BR! L4g! 88*<]! )+-!
%A7)'$;!);$-![iL!8BR!K4k!88*<]!T)%!-$%%*<?&-!$+!e!85!(*<7&+&!)+-!e!85!+dS7CG!)+-!
'&=<7Y&-!*?&'+$B9(4! !E9&!%*<$-!@'&;$@$()(&!T)%!;*<<&;(&-!)+-!T)%9&-!T$(9!8&(9)+*<!
[eft]4!!;R=S(SFB5,LG!031![MKK3GZR!D#D<f]O!�!LL4KK![%R!JGR!)]R!h4Li![-R!kGR!X!�!k!GZR!
.]R!h4Ki![-R!kGR!X!�!k!GZR!;]R!e4hh![%R!MGR!-]4!!LfD!031![LKK3GZR!D#D<f]O!�!LkJ4KR!LgM4MR!
O
O
OH
OH
N N
HO
HO
2+
F
F F
F
a a
b
b
b
b
c
c
aab
b
b
b
c
c
d
d
d
d
c
c
c
c
!
! Mg!
Lgf4eR! LeK4gR! LMK4KR! LJi4MR! LJi4fR! LLh4JR! LLh4KR! ik4e4! ! 8wZ! ;)<;7<)(&-! =*'!
DMKGJMFM0JCgO!hKM4J!=*7+-!./!F"SO!hKe4J4!!,
D:O:T'#PG=;FCAC'<J']AC[O/;FIP?Y;FGP?\@NAGF'
!
! ,-J[-.)]f![L4Ji!BR!L4ML!88*<]R!,[(S7]fGSFM![K4kJ!BR!J4kJ!88*<]R!)+-!0)C(S7!
[k4Lf!BR!kM4g!88*<]!T&'&!%7%@&+-&-!$+!Je!85!-&B)%%&-!(*<7&+&!)+-!%($''&-!)(!'**8!
(&8@&')(7'&!=*'!LK!8$+%4!!Ld.'*8*dMd9&Y/<.&+Z&+&![e4k!85R!Jk4J!88*<]!T)%!)--&-!
)+-! (9&!'&);($*+!T)%!9&)(&-! (*!gK! �D!)+-!%($''&-! =*'!LK!8$+%4! !Md9&Y/<)+$<$+&! [e4K!
85R!Jk4J!88*<]!T)%!)--&-!)+-! (9&! '&);($*+!T)%! '&=<7Y&-!*?&'+$B9(4! !E9&! (*<7&+&!
T)%! '&8*?&-! 7+-&'! ?);778! )+-! (9&! ;'7-&! @'*-7;(! T)%! @7'$=$&-! *+! D*8.$F<)%9!
[gft]4!!LG!031![MKK3GZR!D#D<f]O!�!h4Kh![-R!MGR!X!�!k!GZR!)]R!g4ih![-R!MGR!X!�!k!GZR!.]R!
e4eM![.'R!LGR!;]R!J4ee![(R!MGR!X!�!k!GZR!-]R!L4gfdL4ee![8R!MGR!&]R!L4fkdL4Jh![8R!LJGR!=]R!
K4kk![(R!gGR!X!�!LK4K!GZR!B]4!!LfD!031![LKK3GZR!D#D<f]O!�!LML4fR!Lfe4JR!LJk4iR!LLh4kR!
fe4fR!fL4iR!fL4kR!Ji4LR!JJ4kR!LM4J4! !8wZ!;)<;7<)(&-! =*'!DJMGfe0O!ffh4f! =*7+-!./!F"SO!
ffh4f4!
D:O:W'#PG=;FCAC'<J'&Z&/]AC[O/;FIP?Y;FGP?\/MZQ/LANF=;<IP@GA?AGF'
!
HN
a
a
a
a
b
b
b
b
c
d
e
f
g
d
e
f
g
MeO OMe
Na
a a
a
b
b b
bc
d
c
e
f
g
h
e
i
f
g
h
i
!
! Mh!
! ,-J[-.)]f![K4MM!BR!K4Me!88*<]R!,[(S7]fGSFM![K4Jk!BR!K4ig!88*<]R!)+-!0)C(S7!
[J4k!BR!Jk4k!88*<]!T&'&!%7%@&+-&-!$+!Je!85!-&B)%%&-!(*<7&+&!)+-!%($''&-!)(!'**8!
(&8@&')(7'&!=*'!LK!8$+%4!!Ld.'*8*dfRed-$8&(9*Y/.&+Z&+&![f4Lf!BR!LM4M!88*<]!T)%!
)--&-! )+-! (9&! '&);($*+! T)%! 9&)(&-! (*! gK! �D! )+-! %($''&-! =*'! LK! 8$+%4! ! .$%[Md
9&Y/<@9&+/<])8$+&! [f4JM! BR! i4gK!88*<]!T)%! )--&-! )+-! (9&! '&);($*+!T)%! '&=<7Y&-!
*?&'+$B9(4! ! E9&! (*<7&+&! T)%! '&8*?&-! 7+-&'! ?);778! )+-! (9&! ;'7-&! @'*-7;(! T)%!
@7'$=$&-!*+!D*8.$F<)%9![hJt]4!!7.04 (d, 4H, J = 8 Hz, a), 7.01 (d, 4H, J = 8 Hz, b), 6.17
(d, 2H, J = 2.2 Hz, c), 6.07 (t, 1 H, J = 2.2 Hz, d), 3.67 (s, 6H, e), 2.54 (t, 2 H, J = 8 Hz,
f), 1.59-1.57 (m, 2H, g), 1.34-1.25 (m, 12H, h), 0.88 (t, 6H, J = 8 Hz, i).! ! LfD! 031!
[LKK3GZR!D#D<f]O!�!LgL4JR!LeK4fR!LMe4fR!Lfh4iR!LJi4JR!LJe4KR!LKL4JR!if4kR!ee4eR!fe4eR!
fL4iR! fL4gR! Ji4JR! JJ4kR! LM4J4! ! 8wZ! ;)<;7<)(&-! =*'! DfJGMf0CJO! Mhf4f! =*7+-! ./! F"SO!
Mhf4h4!
D:O:V'#PG=;FCAC'<J'Q/[]AC[O/;FIP?Y;FGP?\@NAG<\]FG^FGF/9ZM/LA<?'
!
! 0R0d.$%[Md9&Y/<@9&+/<]dfRed-$8&(9*Y/)+$<$+&! [K4iJ! BR! L4iM! 88*<]! T)%!
-$%%*<?&-!$+!JK!85!#D34!!E9&!8$Y(7'&!T)%!@<);&-!$+!)!-'/!$;&!p!);&(*+&!;**<$+B!.)(9!
=*'! %&?&')<! 8$+7(&%4! ! SS'f! [f4K!85R! M4Jh!88*<]! T)%! )--&-! )+-! (9&! '&);($*+! T)%!
)<<*T&-! (*! %($'! *?&'+$B9(! ;*8$+B! (*! '**8! (&8@&')(7'&4! ! E9&! 8$Y(7'&! T)%! (9&+!
@*7'&-! $+(*!JKK!85!T)(&'!;**<&-! $+!)+! $;&!.)(94! !E9&! '&);($*+!T)%!&Y(');(&-! $+(*!
#D3R! -'$&-! *?&'! %*-$78! %7<=)(&! )+-! (9&! #D3!T)%! '&8*?&-! 7+-&'! ?);7784! ! E9&!
HO OH
Na
a a
a
b
b b
bc
d
c
e
f
g
h
e
i
f
g
h
i
!
! Mk!
@'*-7;(!T)%!7%&-!T$(9*7(!=7'(9&'!@7'$=$;)($*+4!!LG!031![MKK3GZR!D#D<f]O!�!h4Kg![-R!
MGR!X!�!k!GZR!)]R!h4KL![-R!MGR!X!�!k!GZR!.]R!g4KJ![-R!JGR!X!�!J!GZR!;]R!e4iK![(R!LGR!X!�!J!GZR!
-]R!M4ke![.'R!JGR!&]R!J4ee![(R!MGR!X!�!k!GZR!=]R!L4gJdL4ek![8R!MGR!B]R!L4fkdL4Ji![8R!LJGR!9]R!
K4iK! [-R! gGR! X! �! k!GZR! $]4! LfD!031! [LKK3GZR! D#D<f]O! �! Leh4LR! LeK4gR! LMe4LR! Lfk4JR!
LJi4JR! LJe4MR! LKL4hR! ig4JR! fe4eR! fL4iR! fL4gR! Ji4JR! JJ4hR! LM4J4! ! 8wZ! ;)<;7<)(&-! =*'!
DfKGfi0CJO!MMe4f!=*7+-!./!F"SO!MMe4f4!
D:O:9U'#PG=;FCAC'<J'DZO/]AC[O/[]AC[O/;FIP?Y;FGP?\@NAG<\/DZR/
LA;PLE<IPY;FGP?\BPB?<]K=@/9ZM/LAFGF/9ZM/]AC[<?@=F\'[#_/*((/0R+9M\'
!
! ed[.$%[Md9&Y/<@9&+/<])8$+*].&+Z&+&dLRfd-$*<! [MKK! 8BR! J4he! 88*<]! )+-!
%A7)'$;!);$-![Leh!8BR!L4fh!88*<]!T)%!-$%%*<?&-!$+!e!85!(*<7&+&!)+-!e!85!+dS7CG!
)+-! '&=<7Y&-! *?&'+$B9(4! ! E9&! %*<$-! @'&;$@$()(&! T)%! ;*<<&;(&-! )+-! T)%9&-! T$(9!
8&(9)+*<![iLt]4!!TUSFSF(Q,LG!031![MKK3GZR!D#D<f]O!�!10.96 (s, 4H, a), 7.17 (d, 8H,
J = 8 Hz, b), 7.10 (d, 8H, J = 8 Hz, c), 5.84 (s, 4H, d), 2.59 (t, 8H, J = 8 Hz, e), 1.61-1.59
(m, 8H, J = 8 Hz, f), 1.35-1.25 (m, 24H, g), 0.89 (t, 12H, J = 8 Hz, h). LfD! 031!
[LKK3GZR! D#D<f]O! �! LkL4eR! Lgf4KR! LgJ4kR! Lei4gR! LMJ4LR! LML4kR! LJi4kR! LJh4MR! LKM4kR!
ik4eR!fe4hR!fL4kR!fL4MR!Ji4JR!JJ4hR!LM4J4!!8wZ!;)<;7<)(&-!=*'!DgMGhg0JCgO!igk4g!=*7+-!./!
F"SO!ihK4L4!,
O
O
OH
OH
N N
HO
HO
2+
a a
b
b
b
b
c
c
aab
b
b
b
c
c
d
d
d
d
c
c
c
c
f
e
gh
f
e
g
h
f
e
g
h
f
e
g
h
!
! Mi!
D:O:99'#PG=;FCAC'<J'MZQ/LANF=;<IP/&Z&/]AC[O/NF=;<IPY;FGP?\@GA?AGF'
!
! fRed-$8&(9*Y/)+$<$+&! [K4ee! BR! f4gJ!88*<]R! $*-*)+$%*<&! [J4eM! BR! LK4i!88*<]R!
D7![K4Ke!BR!K4hJ!88*<]R!D76CM![K4Keh!BR!K4fg!88*<]R!%*-$78!)%;*'.)(&![K4KhL!BR!K4fg!
88*<]R! )+-! VJDCf! [L4Le! BR! k4ff! 88*<]! T&'&! -$%%*<?&-! $+! JK! 85! *=! *d
-$;9<*'*.&+Z&+&! )+-! (9&! '&);($*+! 8$Y(7'&! 9&)(&-! )(! JfK!�D! =*'! (9'&&! -)/%4! ! E9&!
'&);($*+!8$Y(7'&!T)%!)<<*T&-!(*!;**<!(*!'**8!(&8@&')(7'&R! =$<(&'&-!(9'*7B9!D&<$(&R!
)+-!;*+;&+(')(&-!7+-&'!?);7784!!E9&!;'7-&!8$Y(7'&!T)%!@7'$=$&-!*+!%$<$;)![gM!t]4!!
LG!031![MKK!3GZR!#36Cd-g]O!�!h4KL![-R!MGR!X!�!k!GZR!)]R!g4ki![-R!MGR!X!�!k!GZR!.]R!g4KJ!
[(R!LGR!X!�!J!GZR!;]R!e4kM![-R!JGR!X!�!J!GZR!-]R!f4hf![%R!gGR!&]R!f4ei![%R!gGR!=]4! !LfD!031!
[LKK3GZR!#36Cd-g]O!�!LgK4iR!Lee4kR!LeK4JR!Lfi4iR!LJh4KR!LLM4kR!ik4KR!iL4iR!ee4JR!eM4i4!!
8wZ!;)<;7<)(&-!=*'!DJJGJf0CMO!fge4J!=*7+-!./!F"SO!fge4J4!
D:O:9D'#PG=;FCAC'<J'Q/[]AC[O/;PLE<IPY;FGP?\@NAG<\]FG^FGF/9ZM/LA<?'
!
! fRed-$8&(9*Y/d0R0d.$%[Md8&(9*Y/@9&+/<])+$<$+&! [L4J! BR! f4f! 88*<]! T)%!
-$%%*<?&-!$+!Lg!85!#D34!!E9&!8$Y(7'&!T)%!@<);&-!$+!)!-'/!$;&!p!);&(*+&!;**<$+B!.)(9!
=*'! %&?&')<! 8$+7(&%4! ! SS'f! [L4f!85R! Lf4J!88*<]! T)%! )--&-! )+-! (9&! '&);($*+! T)%!
N
OMeMeO
OMeMeO
a
aa
a
b
b b
b
d
c
d
e e
f f
HO OH
N
HO OH
a a
b b
c
c
d
cd
c
d
d
e
f f
!
! eK!
)<<*T&-! (*! %($'! *?&'+$B9(! ;*8$+B! (*! '**8! (&8@&')(7'&4! ! E9&! 8$Y(7'&! T)%! (9&+!
@*7'&-! $+(*!JKK!85!T)(&'!;**<&-! $+!)+! $;&!.)(94! !E9&! '&);($*+!T)%!&Y(');(&-! $+(*!
#D3R! -'$&-! *?&'! %*-$78! %7<=)(&! )+-! (9&! #D3!T)%! '&8*?&-! 7+-&'! ?);7784! ! E9&!
@'*-7;(! T)%! 7%&-! T$(9*7(! =7'(9&'! @7'$=$;)($*+4! ! LGd031! [MKK! 3GZR! #36Cd-g]O! �!
i4Jg![%R!JGR!)]R!k4kM![%R!JGR!.]R!g4kk![-R!MGR!X!�!k!GZR!;]R!g4hK![-R!MGR!X!�!k!GZR!-]R!e4gL![(R!
LGR! X! �!J!GZR! &]R! e4eg! [-R! JGR! X! �!J!GZR! =]4! ! LfD!031! [LKK!3GZR!#36Cd-g]O! �!Lek4eR!
Lef4iR! LeK4kR! Lfk4iR! LJh4gR! LLe4iR! ig4iR! iM4f4! !8wZ! ;)<;7<)(&-! =*'! DLkGLe0CMO! fKi4L!
=*7+-!./!F"SO!fKi4L4!
D:O:9M'#PG=;FCAC'<J'DZO/]AC[O/[]AC[O/;PLE<IPY;FGP?\@NAG<\/DZR/
LA;PLE<IPY;FGP?\BPB?<]K=@/9ZM/LAFGF/9ZM/]AC[<?@=F\'[#_/*((/,+\'
!
! ed[.$%[Md9/-'*Y/@9&+/<])8$+*].&+Z&+&dLRfd-$*<! [L4Lk! BR! f4kL! 88*<]! )+-!
%A7)'$;!);$-![K4JJ!BR!L4iL!88*<]!T)%!-$%%*<?&-!$+!LK!85!*=!(*<7&+&!)+-!LK!85!*=!+d
S7CG!)+-!'&=<7Y&-!*?&'+$B9(4!!E9&!@'&;$@$()(&!T)%!;*<<&;(&-!)+-!T)%9&-!(9*'*7B9</!
T$(9!(*<7&+&R!(9&+!9&Y)+&%![he!t]4!!=0IS(SF'F!LGd031![MKK!3GZR!#36Cd-g]O!�!LL4f!
[%R!MGR!)]R!i4hg![%R!MGR!.]R!h4LM![-R!kGR!X!�!k!GZR!;]R!g4kJ![-R!kGR!X!�!k!GZR!-]R!e4Mh![%R!MGR!
-]4!!LfD!031![LKK!3GZR!#36Cd-g]O!�!LkK4gR!LgM4MR!LgJ4JR!Lei4JR!Leg4gR!Lfe4LR!LJk4hR!
LLg4MR!LKf4fR!ie4k4!!8wZ!;)<;7<)(&-!=*'!DMKGJk0JCLKO!gig4J!=*7+-!./!F"SO!gig4J4!
O
O
OH
OH
N N
HO
HO
2+
HO
HO OH
OH
a a
b
bb
b
c
c
aa
c
c
d
d
d
d
c
c
c
c
d
d
d
d
e
e
e
e
!
! eL!
D:O:9O'#PG=;FCAC'<J'&Z&/]AC[MZQ/]AC[=EAJ?K<E<NF=;P?\Y;FGP?\/MZQ/
LANF=;<IP@GA?AGF'
!
! ,-J[-.)]f! [K4g! BR! K4ge!88*<]R! ,[(S7]fGSFM! [K4fk! BR! L4f!88*<]R! )+-!0)C(S7!
[f4hh! BR! fi4Lk! 88*<]! T&'&! %7%@&+-&-! $+! Je! 85! -&B)%%&-! (*<7&+&! )+-! %($''&-! )(!
'**8!(&8@&')(7'&!=*'!LK!8$+%4! !Ld.'*8*dfRed.$%[('$=<7*'*8&(9/<].&+Z&+&![M4e!85R!
Jg4LJ!88*<]!T)%! )--&-! )+-! (9&! '&);($*+!T)%! 9&)(&-! (*! gK! �D! )+-! %($''&-! =*'! LK!
8$+%4! ! fRed-$8&(9*Y/)+$<$+&! [J4K! BR! Lf4Kg!88*<]!T)%! )--&-! )+-! (9&! '&);($*+!T)%!
'&=<7Y&-!*?&'+$B9(4!!E9&!(*<7&+&!T)%!'&8*?&-!7+-&'!?);778!)+-!(9&!;'7-&!@'*-7;(!
T)%!@7'$=$&-!*+!D*8.$F<)%9![kLt]4!!LG!031![MKK3GZR!D#D<f]O!�!h4ee![%R!JGR!)]R!h4Mi!
[%R!MGR!.]R!g4MK![(R!LGR!X!�!M!GZR!;]R!g4Je![-R!JGR!X!�!M!GZR!-]R!f4hg![%R!gGR!&]4!!LfD!031!
[LKK3GZR! D#D<f]O! �! LgJ4eR! LMh4iR! LMg4gR! Lff4kR! Lff4eR! Lff4JR! LfJ4kR! LJh4JR! LJM4eR!
LJJ4iR! LJL4hR! LLi4KR! LLh4KR! LLh4KR! LLg4iR! LKM4gR! ik4hR! ee4h4! ! 8wZ! ;)<;7<)(&-! =*'!
DJMGLeFLJ0CJO!ehh4L!=*7+-!./!F"SO!ehh4J4!
D:O:9Q'#PG=;FCAC'<J'Q/[]AC[MZQ/]AC[=EAJ?K<E<NF=;P?\Y;FGP?\@NAG<\]FG^FGF/9ZM/
LA<?'
!
! 0R0d.$%[fRed.$%[('$=<7*'*8&(9/<]@9&+/<]dfRed-$8&(9*Y/)+$<$+&! [J4K! BR! e4i!
MeO OMe
NF3C
CF3 CF3
CF3
a a
b
b b
b
d
c
d
e e
HO OH
NF3C
CF3 CF3
CF3
a a
b
b b
b
d
c
d
e e
!
! eJ!
88*<]!T)%!-$%%*<?&-!$+!JK!85!#D34!!E9&!8$Y(7'&!T)%!@<);&-!$+!)!-'/!$;&!p!);&(*+&!
;**<$+B! .)(9! =*'! %&?&')<! 8$+7(&%4! ! SS'f! [L4J! 85R! LL4k! 88*<]! T)%! )--&-! )+-! (9&!
'&);($*+!T)%!)<<*T&-! (*!%($'!*?&'+$B9(!;*8$+B! (*!'**8!(&8@&')(7'&4! !E9&!8$Y(7'&!
T)%! (9&+! @*7'&-! $+(*! JKK! 85! T)(&'! ;**<&-! $+! )+! $;&! .)(94! ! E9&! '&);($*+! T)%!
&Y(');(&-! $+(*! #D3R! -'$&-! *?&'! %*-$78! %7<=)(&! )+-! (9&! #D3!T)%! '&8*?&-! 7+-&'!
?);7784! ! E9&! @'*-7;(! T)%! 7%&-!T$(9*7(! =7'(9&'! @7'$=$;)($*+4! ! LG!031! [MKK3GZR!
D#D<f]O!�!h4eh![%R!JGR!)]R!h4Mh![%R!MGR!.]R!g4Je![%R!LGR!;]R!g4Li![%R!JGR!-]R!e4LK![%R!JGR!&]4!!
LfD!031![LKK3GZR!D#D<f]O!�!Lek4fR!LMh4hR!LMh4JR!Lff4iR!Lff4gR!Lff4fR!LfJ4iR!LJh4LR!
LJM4MR! LJf4LR! LJL4hR! LLk4iR! LLh4fR! LLh4fR! LLh4fR! LKe4kR! LKL4M4! ! 8wZ! ;)<;7<)(&-! =*'!
DJJGLLFLJ0CJO!eMi4L!=*7+-!./!F"SO!eMi4M4!
D:O:9R'#PG=;FCAC'<J'DZO/]AC[O/[]AC[MZQ/]AC[=EAJ?K<E<NF=;P?\Y;FGP?\@NAG<\/DZR/
LA;PLE<IPY;FGP?\BPB?<]K=@/9ZM/LAFGF/9ZM/]AC[<?@=F\'[#_/*((/0-M\'
!
! ed[.$%[fRed.$%[('$=<7*'*8&(9/<]@9&+/<])8$+*].&+Z&+&dLRfd-$*<![eKK!8BR!K4iL!
88*<]!)+-!%A7)'$;!);$-![Mi!8BR!K4Mf!88*<]!T)%!-$%%*<?&-!$+!e!85!(*<7&+&!)+-!e!85!
+dS7CG! )+-! '&=<7Y&-! *?&'+$B9(4! ! E9&! %*<$-! @'&;$@$()(&! T)%! ;*<<&;(&-! )+-! T)%9&-!
T$(9!8&(9)+*<! [Mgt]4! !)HUSFSG5! LG!031! [MKK3GZR! );&(*+&d-g]O! �!k4Li! [%R! kGR! )]R!
k4Ke![%R!MGR!.]R!e4iM![%R!MGR!;]4!!LfD!031![LKK3GZR!);&(*+&d-g]O!�!LkL4gR!LMe4hR!LMK4hR!
LfM4LR! Lff4kR! LJi4hR! LJe4fR! LJJ4kR! LLJ4iR! LKL4K4! !8wZ! ;)<;7<)(&-! =*'! DMkGJKFJM0JCgO!
LLhg4L!=*7+-!./!F"SO!LLhh4M4!
O
O
OH
OH
N N
HO
HO
2+
CF3
F3C
F3C
CF3 F3C
CF3
CF3
F3C
a
a
a
a
a
a
a
a
b
b
b
b
c
c c
c
!
! ef!
D:O:9T'#<?K=A<G'@GL'*;AG'-A?N'(]C<E]@GBF'
! 6*<7($*+! ).%*'.)+;&! %@&;(')! T&'&! '&;*'-&-! *+! )! D)'/! LKK!
%@&;('*@9*(*8&(&'4!!"<<!&Y($+;($*+!;*&==$;$&+(%!T&'&!-&(&'8$+&-!='*8!)!<$+&)'!=$(!*=!
=$?&! -)()! @*$+(%4! ! E9$+! =$<8! ).%*'.)+;&! %@&;(')!T&'&! '&;*'-&-! *+! )! 69$8)-Z7!>`!
fgKK4! !D*+;&+(')(&-!%*<7($*+%!*=!(9&!%A7)')$+&%!T&'&!%@$+!;*)(&-!*+(*!B<)%%!;*?&'!
%<$@%!)+-!(9&!).%*'.)+;&!T)%!()Q&+4!!F$<8%!T&'&!)++&)<&-!)(!LKK!�D!=*'!L!9*7'!)+-!
(9&+!8&)%7'&-!)B)$+4!
D:O:9W'0PB?AB'3<?=@NNF=EP'@GL'"GFEHP'4F>F?'"C=AN@=A<G'
! E9$+!=$<8!;/;<$;!?*<()88&('/!&Y@&'$8&+(%!T&'&!;)''$&-!*7(!7%$+B!)!S"6$!Df!
;&<<!%()+-!=$((&-!T$(9!(9'&&!&<&;('*-&%O!)!@<)($+78!-$%Q!T*'Q$+B!&<&;('*-&R!@<)($+78!
)7Y$<$)'/!&<&;('*-&!)+-!"Bw"B�!'&=&'&+;&!&<&;('*-&4!E9&!=$<8!T)%!-'*@!;)%(!*+(*!(9&!
T*'Q$+B!&<&;('*-&!='*8!)!;*+;&+(')(&-!%*<7($*+!*=!(9&!%A7)')$+&!-/&!$+!#D34! !E9&!
?*<()88*B')8%! T&'&! '&;*'-&-! $+! -'/! );&(*+$('$<&! [6AdE""dGR! 6AdE""dDgGLfR! 6Ad
E""dF]! *'! -'/! #D3! [6AdE""dCGR! 6AdE""dDFf]! 7%$+B! (&(').7(/<)88*+$78!
9&Y)=<7*'*@9*%@9)(&! )%! (9&! %7@@*'($+B! &<&;('*</(&! )+-! =&''*;&+&! )%! (9&! %()+-)'-4!!
GC3C! )+-! 5>3C! &+&'B/! <&?&<%! T&'&! ;)<;7<)(&-! 7%$+B! (9&! @&)Q! *+%&(%! 7%$+B! (9&!
&A7)($*+%O!
GC3C!�!d[M4k!�!2*Y!*+%&(]!
5>3C!�!d[M4k!�!2'&-!*+%&(]!
D:O:9V'*;AG'-A?N'*E@GCAC=<E'-@]EAB@=A<G'@GL'2F@CKEFNFG=C'
! "<<! 8&)%7'&8&+(%! T&'&! ;)''$&-! *7(! 7+-&'! $+&'(! )(8*%@9&'&! 7%$+B! "B$<&+(!
MLegD! @'&;$%$*+! %&8$;*+-7;(*'! @)')8&(&'! )+)</Z&'4! ! E9&! =$&<-! &==&;(! (')+%$%(*'%!
!
! eM!
T&'&! ;*+%('7;(&-! 7%$+B! @'&d@)((&'+&-! %7.%(')(&%!8)-&! *=! 9&)?$</! +d-*@&-! %$<$;*+!
%7.%(')(&!T$(9!)!JfK!+8!%$<$;*+!-$*Y$-&!<)/&'!)+-!)!;)@);$()+;&!*=!LM4i!+Fw;8J4!!E9&!
B*<-!%*7';&!)+-!-')$+!&<&;('*-&%!T&'&!-&@*%$(&-!*+!(9&!B)(&!*Y$-&!<)/&'!'&%7<($+B!$+!
.*((*8!;*+();(!F2E%4!!S&=*'&!(9&!%A7)')$+&!=$<8%!T&'&!%@$+!;*)(&-!*+(*!(9&!%7'=);&R!
(9&!%7.%(')(&%!T&'&!;<&)+&-!T$(9!);&(*+&!)+-!-'$&-!T$(9!)+!)'B*+!%('&)84!!6*<7($*+%!
*=!LK8Bw!85!$+!;9<*'*=*'8![6AdE""dGR!6AdE""dDgGLfR!6AdE""dF]!*'!EGF![6AdE""d
CGR!6AdE""dDFf]!T&'&!%@$+!;*)(&-!*+(*!(9&!%7'=);&![LeKK!'@8!=*'!Me!%&;*+-%]4!!E9&!
-&?$;&%!T&'&!8&)%7'&-!.*(9!.&=*'&!)+-!)=(&'!)++&)<$+B!)(!kK!�D!=*'!fK!8$+%4! !E9&!
;9)++&<!T$-(9!*=!)<<!(')+%$%(*'%!T)%!LK!88!)+-!;9)++&<!<&+B(9%!T&'&!J4e!�8R!e!�8R!
LK! �8R! )+-! JK! �84! ! 3*.$<$($&%! T&'&! -&(&'8$+&-! ='*8! (9&! %)(7')(&-! '&B$8&! )+-!
)?&')B&-!)+-!%()+-)'-!-&?$)($*+%!)'&!'&@*'(&-4!!!
D:O:DU'1;<=<><?=@AB'-@]EAB@=A<G'@GL'2F@CKEFNFG=C'
! E9&!.$<)/&'! %*<)'! ;&<<%!T&'&!@'&@)'&-!)+-!8&)%7'&-!./!"Q%9)/!V*Q$<4! ! E9&!
@'&@)')($*+!T)%! );9$&?&-!./! %@$+! ;*)($+B! )! %*<7($*+!*=! (9&!-/&%R! @'&@)'&-! $+! LRJd
-$;9<*'*.&+Z&+&![e!8Bw85]!)(!kK!�DR!*+!;<&)+&-!HEC!;*)(&-!B<)%%!%<$-&%![eK!�w%A]!
)(!kKK!'@84!!E9&!,DgLS3!<)/&'!T)%!(9&'8)<</!&?)@*')(&-!*+!(9&!%A7)')$+&!<)/&'!)(!)!
.)%&! @'&%%7'&! *=! f�LKdh! E*''4! ! E9&! );($?&! <)/&'! T)%! %*<?&+(! )++&)<&-! )(! )8.$&+(!
(&8@&')(7'&! $+! )! %&)<&-! ;9)8.&'! ;*+()$+$+B! -$;9<*'*8&(9)+&! =*'! f! 8$+4! ! E9&!
)<78$+78! ;)(9*-&! [LKK! +8]! T)%! (9&+! (9&'8)<</! &?)@*')(&-! *+! (9&! );($?&! <)/&'4!!
E9&!-&?$;&!;9)');(&'$%($;%!T&'&!8&)%7'&-!)(!)8.$&+(!(&8@&')(7'&%!7+-&'!"3!L4e:!
$<<78$+)($*+4!
!
! ee!
! E9&!.7<Q!9&(&'*W7+;($*+!%*<)'!;&<<%!T&'&!@'&@)'&-!)+-!8&)%7'&-!./!67@')?)(!
V)')Q!(9'*7B9!(9&!*@($8$Z)($*+!*=!%&?&')<!@)')8&(&'%4!!E9&!HECdB<)%%!%7.%(')(&![JK!
�w%A]!T)%! ;<&)+&-! ./! %7.%&A7&+(! %*+$;)($*+! $+! -&(&'B&+(R! );&(*+&R! )+-! $%*@'*@/<!
)<;*9*<4!!E9&!;<&)+&-!HECdB<)%%!T)%!(9&+!&Y@*%&-!(*!>`w*Z*+&!('&)(8&+(!=*'!JK!8$+!
=*<<*T&-! ./! %@$+! ;*)($+B! ,2#CEO,66! [JKKK! '@8! =*'! J! 8$+]4! ! E9&! 6jd
S#GC,"O,DhLS3![-*+*'O);;&@(*']!.<&+-!%*<7($*+!T)%!@'&@)'&-!T$(9!)!T&$B9(!')($*!
*=!LOe!)+-!)! =$+)<!;*+;&+(')($*+!*=!fK!8Bw8<! $+!)!8$Y&-!%*<?&+(!%/%(&8!*=!EGFODS!
[hKOfK!?*<t]!T$(9!K4M!?*<t!*=!#HC!)--$($?&4! !"=(&'!%($''$+B!*?&'+$B9(!)(!ee! �DR! (9&!
.<&+-!T)%!9&)(&-!(*!iK!�D!=*'!Le!8$+!.&=*'&!%@$+!;*)($+B4!!E9&!.7<Q!9&(&'*W7+;($*+!
=$<8!T)%!*.()$+&-!='*8!%@$+!;)%($+B!(9&!%*<7($*+!)(!LeKK!'@8!=*'!gK!%4! !E9&!;*)(&-!
.7<Q!9&(&'*W7+;($*+!=$<8%!T&'&!.)Q&-!(*!kK!�D!=*'!LK!8$+!(*!&?)@*')(&!(9&!'&%$-7)<!
%*<?&+(4! ! 5$F! [L4e! +8]! T)%! (9&'8)<</! &?)@*')(&-! )%! )! .7==&'! <)/&'! =*<<*T&-! ./!
-&@*%$($*+!*=!)!LKK!+8!)<78$+78!;)(9*-&!T$(9!)+!&==&;($?&!-&?$;&!)'&)!*=!K4Kg!;8J4!!
E9&! Xp`! ;9)');(&'$%($;%! *=! (9&! %*<)'! ;&<<%! T&'&! 8&)%7'&-! ./! )! V&$(9<&/! JMKK!
%*7';&8&(&'!7+$(4! !E9&! <$B9(! %*7';&!T)%! ;)<$.')(&-!./!7%$+B! %$<$;*+! '&=&'&+;&! ;&<<%!
T$(9!)+!"3!L4e!:!%*<)'!%$87<)(*'!T$(9!)+!$+(&+%$(/!*=!LKK!8_w;8J4! !"<<!%*<)'!;&<<%!
T&'&!(&%(&-!7+-&'!)8.$&+(!;*+-$($*+%4!!
!
! eg!
!
!
LG!)+-!LfD!031!*=!6AdE""dF4!
!
! eh!
!
LG!)+-!LfD!031!*=!6AdE""dDgGLf4!
!
! ek!
!
LG!)+-!LfD!031!*=!6AdE""dCG4!
!
! ei!
!
LG!)+-!LfD!031!*=!6AdE""dDFf4!
!
! gK!
D:Q'.FJFEFGBFC'
! [L]! S$)+R! 54u! ^97R! 24u! E)+BR! X4u! E)+BR!_4u! ^9)+BR! F4! 1&;&+(! ,'*B'&%%! $+! (9&!#&%$B+!*=!0)''*T!S)+-B)@!D*+W7B)(&-!,*</8&'%! =*'!G$B9d2==$;$&+;/!C'B)+$;!6*<)'!D&<<%4!=%*91,=*+:41,)DE1!DU9DR!(BR!LJiJdLffL4!
! [J]! 5$+R! I4u! 5$R! I4u! ^9)+R! o4! 68)<<! 3*<&;7<&! 6&8$;*+-7;(*'%! =*'! G$B9d2==$;$&+;/!C'B)+$;!,9*(*?*<()$;%4!-3&41,)*D1,H&C1!DU9DR!'FR!MJMedMJhJ4!
! [f]! 3$%9')R!"4u!S{7&'<&R!,4!68)<<!3*<&;7<&!C'B)+$;!6&8$;*+-7;(*'%!*+!(9&!3*?&O!,'*8$%&%!=*'!F7(7'&!6*<)'!2+&'B/!E&;9+*<*B/4!;89&?1,-3&41,@8#1,7A1!DU9DR!GFR!JKJKdJKgh4!
! [M]! ^9*7R! G4u! I)+BR! 54u! I*7R! _4! 1)($*+)<! #&%$B+! *=! G$B9! ,&'=*'8)+;&!D*+W7B)(&-!,*</8&'%!=*'!C'B)+$;!6*<)'!D&<<%4!2"D%*4*+&D$+&.!DU9DR!'GR!gKhdgfJ4!
! [e]! S7+-B))'-R! 24u! V'&.%R! F4! D4! 5*T! S)+-! :)@! ,*</8&'%! =*'! C'B)+$;!,9*(*?*<()$;%4!)*+1,78&%91,2"#1,)*+1,-1!DUUTR!KFR!ieMdike4!
! [g]! V$@@&<&+R! S4u! S'&-)%R! X4d54! C'B)+$;! @9*(*?*<()$;%4!78&%9:, 78CE%*81, )DE1!DUUVR!5R!JeLdJgL4!
! [h]! F*''&%(R!64!14!E9&!,)(9!(*!>.$A7$(*7%!)+-!5*TdD*%(!C'B)+$;!2<&;('*+$;!"@@<$)+;&%!*+!,<)%($;4!!"#$%&!DUUOR!'5/R!iLLdiLk4!
! [k]! ^9)+BR!^4d:4u!_)+BR!X4!6('7;(7'&%!)+-!,'*@&'($&%!*=!D*+W7B)(&-!#*+*'d";;&@(*'! D*@*</8&'%! =*'! 6*<)'! D&<<! "@@<$;)($*+%4! 01, 2"#&%1, -3&41!DU9DR! 55R! MLhkdMLkh4!
! [i]! E9*8@%*+R!S4!D4u! F'&;9&(R! X4!34! X4! ,*</8&'dF7<<&'&+&!D*8@*%$(&! 6*<)'!D&<<%4!;89&?1,-3&41,@8#1,7A1!DUUWR!'BR!ekdhh4!
! [LK]! E)Q&;9$R! V4u! V)8)(R! ,4! `4u! "?$')9R! 14! 14u! X/*(9$%9R! V4u! 1)8)$)9R! #4!G)'?&%($+B!H+=')'&-!,9*(*+%!T$(9!D'*;*+)(&!#/&%4!-3&41,2"#&%1!DUUTR!56R!JgedJhJ4!
! [LL]! _)+BR!64u!G)<<R!54u!#$&?R!`4!`4u!G)$B&%R!14u!_&$R!:4u!o$)*R!o4u!#W7'*?$;9R!,4!H4u!F*''&%(R!64!14u!E9*8@%*+R!34!24!0R0d#$)'/<)+$<$+*%A7)')$+&%!)+-!E9&$'!"@@<$;)($*+!(*!C'B)+$;!,9*(*?*<()$;%4!-3&41,2"#&%1!DU99R!5(R!MhkidMhik4!
! [LJ]! _&$R! :4u! o$)*R! o4u! _)+BR! 64u! ^$88&'8)+R! X4! #4u! 67+R! V4u! #$&?R! `4! `4u!E9*8@%*+R! 34! 24u! F*''&%(R! 64! 14! "'/<)8$+&dS)%&-! 6A7)')$+&! #*+*'%! =*'! >%&! $+!C'B)+$;!6*<)'!D&<<%4!!"8*,>&##&%.!DU99R!FFR!MJgLdMJgM4!
! [Lf]! _&$R!:4u!o$)*R!o4u!_)+BR!64u!67+R!V4u!S&'B&8)++R!V4!X4u!E9*8@%*+R!34!24u!F*''&%(R! 64! 14! F7+;($*+)<$Z&-! 6A7)')$+&! #*+*'%! =*'! 0)+*;'/%()<<$+&! C'B)+$;!,9*(*?*<()$;%4!;-),!"8*!DU99R!QR!ihJdihk4!
!
! gL!
! [LM]! o$)*R! o4u! _&$R! :4u! _)+BR! 64u! ^$88&'8)+R! X4! #4u! 1&+%9)TR! D4! V4u!E9*8@%*+R! 34! 24u! F*''&%(R! 64! 14! 68)<<d3*<&;7<&! ,9*(*?*<()$;%! S)%&-! *+!F7+;($*+)<$Z&-!6A7)')$+&!#*+*'!S<&+-%4!;AC1,2"#&%1!DU9DR!5'R!LiegdLigK4!
! [Le]! S&?&'$+)R! 54u! 6)<$;&R! ,4! 6A7)')$+&! D*8@*7+-%O! E)$<*'&-! #&%$B+! )+-!6/+(9&%$%! E*T)'-%! )! `)'$&(/! *=! 3)(&'$)<! 6;$&+;&! "@@<$;)($*+%4! 7$%1, 01, O%91, -3&41!DU9UR!56F6R!LJKhdLJJe4!
! [Lg]! 6*+BR! o4u! F*<&/R! X4!_4!"!0&T!_)(&'d6*<7.<&!0&)'dH+=')'&-!D'*;*+$78!#/&4!R:&.,=E94&8#.!DUUWR!B/R!gKdgM4!
! [Lh]! D9&+R!:4u!6)%).&R!G4u!_)+BR!^4u!_)+BR!o4dF4u!G*+BR!^4u!I)+BR!I4u!V$-*R! X4!D*d2?)@*')(&-! S7<Q! G&(&'*W7+;($*+! 6*<)'! D&<<%!T$(9! �g4Kt! 2==$;$&+;/4!;AC1,2"#&%1!DU9DR!5'R!JhgkdJhhf4!
! [Lk]! ,)+-&/R! 64! 64u! 3$Z7+*R! E4u! #)%R! 64! V4u! CB*8$R! I4u! G)/)%&R! 64! 6*<7($*+!,'*;&%%).<&!E9$+!F$<8!C'B)+$;!,9*(*?*<()$;!D&<<%!S)%&-!*+!F)'!1&-!6&+%$($?&!6*<7.<&!6A7)')$+&!#/&%4!L3E8,)*+EA,ME+4.!DU9DR!G55R!MKLdMKg4!
! [Li]! D9)+BR! D4dG4u! D9&+R! I4dD4u! G%7R! D4dI4u! D9*7R! G4dG4u! 5$+R! X4! E4! 6A7)')$+&d"'/<)8$+&! 6&+%$($Z&'%! =*'! G$B9</! 2==$;$&+(! @dE/@&! #/&d6&+%$($Z&-! 6*<)'! D&<<%4! O%91,>&##1!DU9DR!F'R!MhJgdMhJi4!
! [JK]! #&$+BR!V4!D4u!3)/&'9*==&'R!>4u!_7'(9+&'R!F4u!3&&'9*<ZR!V4!"BB'&B)($*+d#&@&+-&+(! ,9*(*?*<()$;! ,'*@&'($&%! *=! 6A7)')$+&w,DgLS3! S7<Q! G&(&'*W7+;($*+%4!=3:.1,-3&41,-3&41,=3:.1!DU9DR!F'R!kfJkdkffM4!
! [JL]! ^9*7R! G4u! I)+BR! 54u! 6(*+&Q$+BR! 64u! I*7R! _4! "! _&)Q! #*+*'|6('*+B!";;&@(*'!6(')(&B/!(*!#&%$B+!H-&)<!,*</8&'%!=*'!C'B)+$;!6*<)'!D&<<%4!;-),;<<+1,2"#&%1,@8#&%P"D&.!DU9UR!5R!LfhhdLfkf4!
! [JJ]! ^9*7R! G4u! I)+BR! 54u! ,'$;&R! 64! D4u! V+$B9(R! V4! X4u! I*7R! _4! 2+9)+;&-!,9*(*?*<()$;! ,&'=*'8)+;&! *=! 5*TdS)+-B)@! ,*</8&'%! T$(9! #&&@! 5>3C! 5&?&<%4!;89&?1,-3&41,@8#1,7A1!DU9UR!'KR!hiiJdhiie4!
! [Jf]! D$)%R! ,4u! 6<7B*?;R! D4u! :&%;9&$-(R! :4! G*<&! E')+%@*'(! $+! E'$@9&+/<)8$+&!S)%&-!C52#!#&?$;&%O! F'*8!E9&*'&($;)<!3*-&<$+B! (*! ,'*@&'($&%! ,'&-$;($*+4! 01, =3:.1,-3&41,;!DU99R!FFGR!LMeLidLMeJe4!
! [JM]! G7((+&'R!64u!6*88&'R!34u!6(&$+&'R!>4u!E9&<)QQ)(R!34!C'B)+$;!F$&<-!2==&;(!E')+%$%(*'%! ='*8! E'$)'/<)8$+&! 6$-&dD9)$+! ,*</8&'%4! ;<<+1, =3:.1, >&##1! DU9UR! KQR!KhfeKfdKhfeKg4!
! [Je]! ^9)*R! G4u! E)+W7(;*R! D4u! E9)/78)+)?)+R! 64! #&%$B+! )+-! 6/+(9&%$%! *=!6().<&! E'$)'/<)8$+&%! =*'!G*<&dE')+%@*'(! "@@<$;)($*+%4!L&#%"3&A%*8, >&##1!DUU9R!'5R!MMJLdMMJM4!
!
! gJ!
! [Jg]! F);;9&(($R!"4u!I**+R!34dG4u!6(&'+R!D4!54u!V)(ZR!G4!24u!3)'Q%R!E4!X4!S7$<-$+B!S<*;Q%! =*'! +dE/@&! C'B)+$;! 2<&;('*+$;%O! 1&B$*;9&8$;)<</! 3*-7<)(&-! H+?&'%$*+! *=!3)W*'$(/! D)''$&'! 6$B+! $+! ,&'=<7*'*)'&+&d3*-$=$&-! ,*</(9$*@9&+&! 6&8$;*+-7;(*'%4!;89&?1,-3&41,@8#1,7A1!DUUMR!'5R!fiKKdfiKf4!
! [Jh]! F);;9&(($R! "4u!37%9'7%9R!34u! V)(ZR! G4! 24u!3)'Q%R! E4! X4! +dE/@&! S7$<-$+B!S<*;Q%! =*'!C'B)+$;!2<&;('*+$;%O!"!G*8*<*B*7%!F)8$</!*=! F<7*'*;)'.*+d67.%($(7(&-!E9$*@9&+&!C<$B*8&'%!T$(9!G$B9!D)''$&'!3*.$<$(/4!;AC1,2"#&%1!DUUMR!FGR!ffdfk4!
! [Jk]! F);;9&(($R! "4u!37%9'7%9R!34u! I**+R!34dG4u!G7(;9$%*+R!:4!14u!1)(+&'R!34!"4u! 3)'Q%R! E4! X4! S7$<-$+B! S<*;Q%! =*'! +dE/@&! 3*<&;7<)'! )+-! ,*</8&'$;! 2<&;('*+$;%4!,&'=<7*'*)<Q/<d! ?&'%7%! "<Q/<dF7+;($*+)<$Z&-! C<$B*(9$*@9&+&%! [+Eu! +! �! J|g]4!6/%(&8)($;%!*=!E9$+!F$<8!3$;'*%('7;(7'&R!6&8$;*+-7;(*'!,&'=*'8)+;&R!)+-!3*-&<$+B!*=!3)W*'$(/!D9)'B&!H+W&;($*+!$+!F$&<-d2==&;(!E')+%$%(*'%4!01,;41,-3&41,)*D1!DUUOR!F5QR!LfkeidLfkhM4!
! [Ji]! 1&--/R!X4!64u!V)<&R!E4u!S)<)W$R!:4u!D9)+-')%&Q)')+R!"4u!E9)/78)+)?)+R!64!D/;<*@&+()-$(9$*@9&+&dS)%&-! C'B)+$;! 6&8$;*+-7;(*'%O! 2==&;(! *=! F<7*'$+)(&-!67.%($(7&+(%! *+! 2<&;('*;9&8$;)<! )+-! D9)'B&! E')+%@*'(! ,'*@&'($&%4! 01, =3:.1, -3&41,>&##1!DU99R!5R!gMkdgeM4!
! [fK]! I**+R! 34dG4u! F);;9&(($R! "4u! 6(&'+R! D4! 24u! 3)'Q%R! E4! X4! F<7*'*;)'.*+d3*-$=$&-!C'B)+$;! 6&8$;*+-7;(*'%O�!3*<&;7<)'! "';9$(&;(7'&R! 2<&;('*+$;R! )+-! D'/%()<!6('7;(7'&! E7+$+B! *=! "'&+&d! ?&'%7%! F<7*'*)'&+&dE9$*@9&+&! C<$B*8&'! E9$+dF$<8!,'*@&'($&%4!01,;41,-3&41,)*D1!DUURR!F5/R!ehiJdekKL4!
! [fL]! I**+R!34dG4u!#$S&+&-&((*R!64!"4u!17%%&<<R!34!E4u!F);;9&(($R!"4u!3)'Q%R!E4!X4!G$B9d,&'=*'8)+;&! +dD9)++&<! D)'.*+/<dF7+;($*+)<$Z&-! j7)(&'(9$*@9&+&!6&8$;*+-7;(*'%O�! E9$+dF$<8! E')+%$%(*'! 1&%@*+%&! )+-! 3)W*'$(/! D)''$&'! E/@&!H+?&'%$*+! ?$)! 6$8@<&! D9&8$;)<! ,'*(&;($*+w#&@'*(&;($*+4! -3&41, 2"#&%1! DUUTR! FKR!MkgMdMkkL4!
! [fJ]! :)7%%$)+!KiR!1&?$%$*+!"4LR!F'$%;9R!34! X4u!E'7;Q%R!:4!_4u!6;9<&B&<R!G4!S4u!6;7%&'$)R!:4!24u!1*..R!34!"4u!D9&&%&8)+R!X4!14u!6;)<8)+$R!:4u!S)'*+&R!`4u!3&++7;;$R!S4u!,&(&'%%*+R!:4!"4u!0)Q)(%7W$R!G4u! D)'$;)(*R!34u! 5$R! o4u!G')(;9$)+R!G4!,4u! HZ8)/<*?R!"4! F4u!S<*$+*R! X4u! ^9&+BR!:4u! 6*++&+.&'BR! X4! 54u!G)-)R!34u! 29)')R!34u! E*/*()R!V4u! F7Q7-)R!14u!G)%&B)T)R! X4u! H%9$-)R! 34u! 0)Q)W$8)R! E4u! G*+-)R! I4u! V$()*R! C4u! 0)Q)$R! G4u! `'&?&+R! E4u!3*+(B*8&'/R!X'4R!X4!"4u!,&')<()R!X4!24u!CB<$)'*R!F4u!S&)'@)'QR!34u!G&/-R!X4!X4u!S'*(9&'%R!24u!V7-$+R!V4!04u!6()'*?&'*?R!`4!04u!V*.)/)%9$R!14u!0*'8)+-R!X4u!1)B9)?);9)'$R!V4u!1&+-&<<R!"4u!S7')+(R!X4!D4u!H/&+B)'R!64!64u!E*8)%$R!X4u!D*%%$R!34u!1&B)R!04u!3$<<)8R!X4!34u!V<&+&R!34u!V+*YR!X4!24u!D'*%%R!X4!S4u!S)QQ&+R!`4u!"-)8*R!D4u!X)')8$<<*R!X4u!:*8@&'(%R!14u!6(')(8)++R!14!24u!I)Z/&?R!C4u!"7%($+R!"4! X4u!D)88$R!14u!,*8&<<$R!D4u!C;9(&'%Q$R! X4!_4u!3)'($+R!14!54u!3*'*Q78)R!V4u!^)Q'Z&T%Q$R!`4!:4u!`*(9R!:4!"4u!6)<?)-*'R!,4u!#)++&+.&'BR!X4!X4u!#)@@'$;9R!64u! #)+$&<%R! "4! #4u! F)'Q)%R! �4u! F*'&%8)+R! X4! S4u! C'($ZR! X4! `4u! D$*%<*T%Q$R! X4u! F*YR! #4! X4!:)7%%$)+R!H+;4R!_)<<$+B=*'-!DER!JKKi4!
!
!
! gf!
0+(1*".'M'
"--"0*',-'(00"1*,.'#*."&%*+',&'5"*,0)(&$&"'!)"#'
M:9'$G=E<LKB=A<G''
! D/)+$+&! -/&%! )'&! )! %@&;$=$;! (/@&! *=! @*</8&(9$+&! -/&! (9)(! ;*+()$+%! (T*!
+$('*B&+!)(*8%!.'$-B&-!./!)+!*--!+78.&'!*=!8&(9$+&!B'*7@%L4!!C+&!*=!(9&!+$('*B&+!
)(*8%! $%! @*%$($?&</! ;9)'B&-! )+-! (9&! *--! +78.&'! *=! 8&(9$+&! B'*7@%! )<<*T! =*'!
'&%*+)+;&! %().$<$Z)($*+R! %9*T+! $+! F$B7'&! f4L4! ! H+! (9$%! ;)%&R! (9&! (T*! +$('*B&+!
;*+()$+$+B! &+-! B'*7@%! )'&! $-&+($;)<! )+-! (9&'&=*'&! (9&'&! $%! +*! &+&'B/! -$==&'&+;&!
.&(T&&+! (9&! (T*! '&%*+)+;&! =*'8%4! ! E9&! &A7)<! ;*+('$.7($*+! ='*8! .*(9! '&%*+)+;&!
%('7;(7'&%!8$+$8$Z&%!(9&!.*+-!<&+B(9!)<(&'+)($*+!(*!(9&!;/)+$+&!<$8$(J4!!E9&!8$+$8)<!
%('7;(7')<! ;9)+B&!.&(T&&+! (9&! (T*! %()(&%! '&%7<(%! $+! )! '&-! %9$=(&-! ).%*'@($*+!T$(9!
9$B9!&Y($+;($*+!;*&==$;$&+(%f4! !E9&$'!$+(&+%&!).%*'.)+;&!8*($?)(&%!(9&$'!7%&!)%!-/&%!
$+!.$*<*B$;)<!$8)B$+BMdh4!!
!
! 3&'*;/)+$+&!-/&%!-$==&'!='*8!;*+?&+($*+)<!;/)+$+&!-/&%!$+!(9)(!(9&/!;*+%$%(!
*=!)!+&7(')<!)%/88&('$;)<!%('7;(7'&!;*+%$%($+B!*=!)!-*+*'!)+-!);;&@(*'!@*'($*+!
kRi4! ! "! B&+&'$;! %('7;(7'&! *=! 8&'*;/)+$+&! -/&! ;)+! .&! %&&+! $+! F$B7'&! f4JR! T9&'&! )!
+$('*B&+! ;*+()$+$+B!-*+*'! )+-! )! *Y/B&+! ;*+()$+$+B! );;&@(*'! )'&! <$+Q&-! (9'*7B9! )!
@*</&(9/<&+&! ;9)$+4! ! E9$%! '&%7<(%! $+! )! @7%9d@7<<! %/%(&8! %$8$<)'! (*! (/@$;)<! -*+*'d
);;&@(*'! (/@&! 8*<&;7<&%4! ! 3&'*;/)+$+&! -/&%! )'&! &Y;&<<&+(! -&(&;(*'%! *=!
!!
F$B7'&!f4LO!:&+&'$;!%('7;(7'&!*=!;/)+$+&!-/&4!!E9&!*--!+78.&'!*=!8&(9$+&!B'*7@%!)<<*T!=*'!'&%*+)+;&!%().$<$Z)($*+!.&(T&&+!(9&!)8$+&!)+-!(9&!$8$+$784!
!
! gM!
8$;'*&+?$'*+8&+(%!)%!(9&/!)'&!$+-$;)(*'%!*=!.*(9!@*<)'$(/!)+-!@GLKdLe4! !E9&!;9)'B&!
%&@)')(&-!%()(&!;)+!.&!%().$<$Z&-!./!)+!$+;'&)%&!$+!(9&!@*<)'$(/!*=!(9&!%*<?&+(4! !H+!)!
%$8$<)'!T)/R!@'*(*+)($*+!*=! (9&!*Y/B&+!)+$*+!7+-&'!);$-$;!;*+-$($*+%!T$<<! <$Q&T$%&!
@'*8*(&! (9&! ;9)'B&! %&@)')(&-! %()(&4! ! S*(9! $+;'&)%$+B! @*<)'$(/! )+-! -&;'&)%$+B! @G!
T$<<!*=(&+!'&%7<(! $+!)! '&-!%9$=(!*=! (9&!).%*'.)+;&!*=! (9&%&!-/&%4! !3&'*;/)+$+&!-/&%!
=7+;($*+)<$Z&-!T$(9! ;'*T+! &(9&'%! ;)+! ;**'-$+)(&! .$*<*B$;)<</! '&<&?)+(! ;*7+(&'! $*+!
%7;9! )%! 0)�R! V�R! D)J�! *'! 3BJ�R! 8)Q$+B! (9&8! @'*8$%$+B! ;)+-$-)(&%! )%! ;)($*+!
$+-$;)(*'%LgRLh4!
! V&(*;/)+$+&!-/&%!;*8.$+&!(9&!.&+&=$(%!*=!(')-$($*+)<!;/)+$+&!-/&%!T$(9!(9*%&!
*=! 8&'*;/)+$+&! -/&%LkdJf4! ! "%! %&&+! $+! F$B7'&! f4fR! Q&(*;/)+$+&! -/&%! )'&! +&7(')<R!
%/88&('$;)<R! )+-! ;*+%$%(! *=! (T*! )8$+&! ;*+()$+$+B! -*+*'%! )%! T&<<! )%! )+! *Y/B&+!
;*+()$+$+BR!*'!*(9&'!&<&;('*+!T$(9-')T$+B!);;&@(*'4! ! 6$8$<)'! (*!8&'*;/)+$+&!-/&%R!
Q&(*;/)+$+&!-/&%!)<%*!&Y9$.$(!%*<?)(*;9'*8$;!)%!T&<<!)%!9)<*;9'*8$;!.&9)?$*'LMRJMRJe4!!
! `)'$*7%! ;/)+$+&! )+-! 8&'*;/)+$+&! -/&%! 9)?&! )<%*! .&&+! &Y@<*'&-! =*'!
)@@<$;)($*+%! $+! <)/&'&-! )+-! .7<Q! 9&(&'*W7+;($*+! *'B)+$;! @9*(*?*<()$;%JgdfL4! ! E9&%&!
-/&%! @*%%&%%! 9$B9! ).%*'@($*+! ;*&==$;$&+(%! T$(9! (7+).<&! ).%*'.)+;&R! T9$;9! 8)Q&
!!
F$B7'&! f4JO! :&+&'$;! %('7;(7'&! *=! 8&'*;/)+$+&! -/&4! ! 3&'*;/)+$+&! -/&%! )'&!)%/88&('$;! ;9)'B&! +&7(')<! )+-! ;*+%$%(! *=! )! +$('*B&+! -*+*'! )+-! )+! *Y/B&+!);;&@(*'!;*++&;(&-!(9'*7B9!)!@*</&(9/<&+&!;9)$+4!!!
!
! ge!
!
(9&8!-&%$').<&!=*'!<$B9(!9)'?&%($+B4!!E9&%&!-/&%!9)?&!)<%*!.&&+!)<%*!7($<$Z&-!=*'!(9&!
=).'$;)($*+! *=! -/&! %&+%$($Z&-! %*<)'! ;&<<%fJ4! ! 2Y)8@<&%! *=! %*8&! 9$B9! &==$;$&+;/! C,`!
-&?$;&%!T$(9!;/)+$+&!);($?&!<)/&'%!)'&!%9*T+!$+!F$B7'&!f4M4!
!
!
!!
F$B7'&! f4fO! :&+&'$;! %('7;(7'&! *=! Q&(*;/)+$+&! -/&4! ! V&(*;/)+$+&! -/&%! 9)?&! )!%/88&('$;!;9)'B&!+&7(')<!%('7;(7'&R!T9&'&!(9&!(T*!+$('*B&+%!*+</!;*887+$;)(&!$+!(9&!;9)'B&!%&@)')(&-!'&%*+)+;&!%('7;(7'&4!
!!
F$B7'&!f4MO!6('7;(7'&%!*=!;/)+$+&d(/@&!-/&%!%7;;&%%=7<</!7%&-!$+!(9&!);($?&!<)/&'!*=!C,`%4!
!
! gg!
M:D'.FCK?=C'@GL'!ACBKCCA<G'
M:D:9'2<?FBK?@E'!FCAHG'
! E9&! Q&(*;/)+$+&! -/&%! '&@*'(&-! 9&'&! ;*+%$%(! *=! )! -*+*'d);;&@(*'d-*+*'!
)';9$(&;(7'&! T9&'&! -$@9&+/<)8$+&! T$<<! );(! )%! (9&! &<&;('*+! -*+)($+B! 8*$&(/! )+-!
=<7*'&+*+&!T$<<! );(!)%! (9&!&<&;('*+!);;&@($+B!8*$&(/4! !"%! %&&+! $+!F$B7'&!f4eR! $+! (9&!
B'*7+-!%()(&!*=! (9$%!8*<&;7<&! (9&!(T*!)8$+&%!)'&!+*(! $+!&<&;('*+$;!;*887+$;)($*+!
T$(9! &);9! *(9&'R! 9*T&?&'R! $+! (9&! ;9)'B&! %&@)')(&-! %()(&R! (9&!8*<&;7<&! );;&%%&%! )!
@)'($)<!.&+Z&+*$-d@)'($)<!A7$+*$-!=*'8!)<<*T$+B!&<&;('*+$;!;*887+$;)($*+!.&(T&&+!
(9&! (T*!)8$+&%4! ! H+! (9&! ;9)'B&! %&@)')(&-!%()(&!*=! (9&!8*<&;7<&R! (9&'&! $%! )!@*%$($?&!
;9)'B&!<*;)<$Z&-!*+!*+&!*=!(9&!+$('*B&+!)(*8%!*=!(9&!-$@9&+/<)8$+&!)+-!)!+&B)($?&
!
;9)'B&! <*;)<$Z&-! *+! (9&! *Y/B&+! )(*8! *=! (9&! =<7*'&+*+&4! ! H+;'&)%$+B! (9&! );;&@(*'!
%('&+B(9! $+! (9$%! Q&(*;/)+$+&! -/&! %9*7<-! %().$<$Z&! (9&! +&B)($?&! ;9)'B&! $+! (9$%! =*'8!
)+-!'&%7<(!$+!)!B'&)(&'!;*+('$.7($*+!='*8!(9$%!'&%*+)+;&!=*'84!!H+!*'-&'!(*!(&%(!(9$%!
9/@*(9&%$%R! )! %&'$&%!*=! Q&(*;/)+$+&!-/&%!T$(9!);;&@(*'%!*=! ?)'/$+B! %('&+B(9%!T&'&!
!!
F$B7'&! f4eO! 1&%*+)+;&! %('7;(7'&%! *=! Q&(*;/)+$+&! -/&%4! ! H+! (9&! B'*7+-! %()(&! (9&!(T*!)8$+&%!)'&!+*(! $+!&<&;('*+$;!;*887+$;)($*+4! ! H+! (9&!;9)'B&!%&@)')(&-!%()(&!(9&!(T*!)8$+&%!)'&!)<<*T&-!(*!;*887+$;)(&!T$(9!&);9!*(9&'4!
!
! gh!
%/+(9&%$Z&-R!)+-!;)+!.&!%&&+!$+!F$B7'&!f4g4!!E9&!);;&@(*'!%('&+B(9!$+;'&)%&%!T$(9!(9&!
=*<<*T$+B! ('&+-O!Q&(*+&!�!8)<*+*+$('$<&!�!LRfd$+-)+-$*+&!�!LRfd-$8&(9/<.)'.$(7'$;!
);$-! �! LRfd-$&(9/<dJd(9$*.)'.$(7'$;! );$-ffdfe4! ! H(! $%! +*(! ;<&)'! T9&'&! fd@9&+/<ded
$%*Y)Z*<*+&! =)<<%! $+(*! (9$%! <$%(! .&;)7%&R! 7+<$Q&! (9&! *(9&'! );;&@(*'%R! $(! )-*@(%! )+!
)'*8)($;! =*'8! T9&+! %().$<$Z$+B! (9&! +&B)($?&! ;9)'B&fg4! ! E9$%! %&(%! fd@9&+/<ded
$%*Y)Z*<*+&!)@)'(!='*8!(9&!*(9&'!);;&@(*'%!)+-!(9&'&=*'&!#""dF<d,H!;)++*(!)<T)/%!
.&!;*8@)'&-!T$(9!(9&!*(9&'!8*<&;7<&%4!
! #""dF<!T)%!%/+(9&%$Z&-!);;*'-$+B!(*!)!@'&?$*7%</!@7.<$%9&-!@'*;&-7'&fh!)+-!
$%! %9*T+! $+! 6;9&8&! f4L4! ! S'$&=</R! fRgd-$.'*8*diGd=<7*'&+did*+&! T)%! %/+(9&%$Z&-!
='*8! (9&! .'*8$+)($*+! )+-! %7.%&A7&+(! '$+B! ;*+(');($*+! *=! fRgd
-$.'*8*@9&+)+(9'&+&diRLKd-$*+&4! ! fRgd-$.'*8*diGd=<7*'&+did*+&! T)%! (9&+!
%7.W&;(&-! (*! )!S7;9T)<-! ;*7@<$+B!T$(9!-$@9&+/<)8$+&! (*! %/+(9&%$Z&!#""dF<! )%! )+!
*')+B&! %*<$-4! ! E9&! '&8)$+$+B! Q&(*;/)+$+&! -/&%! T&'&! %/+(9&%$Z&-! ./! ;*+-&+%$+B!
!!
F$B7'&!f4gO!D9&8$;)<!%('7;(7'&%!*=!(9&!Q&(*;/)+$+&!-/&%!'&@*'(&-!$+!(9$%!;9)@(&'4!!E9&! );;&@(*'! %('&+B(9! $%! (7+&-! T9$<&! (9&! )8$+&! @*'($*+! *=! (9&! -/&%! '&8)$+%!;*+%()+(4!
!
! gk!
?)'$*7%!);;&@(*'%!T$(9!#""dF<4! !
!
! #""dF5dD0! T)%! %/+(9&%$Z&-! ./! )! @$@&'$-$+&! ;)()</Z&-! V+*&?&+)B<&!
;*+-&+%)($*+!*=!#""dF<!T$(9!8)<*+*+$('$<&!'&%7<($+B!$+!)!.'*T+!%*<$-4!!E9&!%/+(9&($;!
%;9&8&!;)+!.&!%&&+!$+!6;9&8&!f4J4! !!
!
! #""dF<dH+! T)%! %/+(9&%$Z&-! ./! (9&! ;*+-&+%)($*+! *=! #""dF<! T$(9! LRfd
$+-)+-$*+&! $+! (9&! @'&%&+;&! *=! );&($;! );$-! )+-! );&($;! )+9/-'$-&! /$&<-$+B! )! @7'@<&!
;*<*'&-!%*<$-4!!E9&!%/+(9&%$%!*=!#""dF<dH+!;)+!.&!%&&+!$+!6;9&8&!f4f4!!
!!
6;9&8&!f4LO!6/+(9&%$%!*=!#""dF<4!!!
!!
6;9&8&!f4JO!6/+(9&%$%!*=!#""dF<dD04!
!
! gi!
!
! E9&!);&($;!);$-d);&($;!)+9/-'$-&!;*+-&+%)($*+!*=!#""dF<!T$(9!.)'.$(7'$;!);$-!
/$&<-&-! #""dF5dgCR! )! .<7&! %*<$-4! ! E9&! %/+(9&%$%! $%! %9*T+! $+! 6;9&8&! f4M4!
!
! 6;9&8&!f4e!%9*T%!(9&!%/+(9&%$%!*=!#""dF<dg64! !#""dF<!T)%!;*+-&+%&-!T$(9!
(9$*.)'.$(7'$;!);$-!$+!(9&!@'&%&+;&!*=!);&($;!);$-!)+-!);&($;!)+9/-'$-&!'&%7<($+B!$+!)!
B'&&+!%*<$-4! !
!
! #""dF<d,H!T)%!%/+(9&%$Z&-!./! (9&!;*+-&+%)($*+!*=!#""dF<!T$(9!fd,9&+/<ded
$%*Y)Z*<*+&! $+! (9&! @'&%&+;&! *=! );&($;! );$-! )+-! );&($;! )+9/-'$-&! /$&<-$+B! )! @7'@<&!
!6;9&8&!f4fO!6/+(9&%$%!*=!#""dF<dH+4!
!6;9&8&!f4MO!6/+(9&%$%!*=!#""dF<dgC4!
!6;9&8&!f4eO!6/+(9&%$%!*=!#""dF<dg64!
!
! hK!
;*<*'&-!%*<$-4!!E9&!%/+(9&%$%!*=!#""dF<d,H!;)+!.&!%&&+!$+!6;9&8&!f4g4! !
!
M:D:D'(]C<E]@GBF'1E<YFE=AFC'
! E9&! ).%*'.)+;&! *=! &);9! -/&!T)%!8&)%7'&-! $+! -$;9<*'*8&(9)+&! [#D3]! )+-!
;)+!.&!%&&+!$+!F$B7'&!f4h4! !2);9!*=!(9&!-/&%!9)%!%$B+$=$;)+(!).%*'.)+;&!*?&'!)!T$-&!
')+B&! *=! T)?&<&+B(9%4! ! E9&'&! )'&! (T*! 8)W*'! @&)Q%! =*'! &);9! *=! (9&! -/&%! T9$;9!
;*''&%@*+-!(*!(9&!rdrs!)+-!;9)'B&!(')+%=&'!(')+%$($*+%4!!E9&!).%*'.)+;&!%@&;(')!)'&!
!6;9&8&!f4gO!6/+(9&%$%!*=!#""dF<d,H4!
!!
F$B7'&!f4hO!".%*'.)+;&!%@&;(')!*=!(9&!Q&(*;/)+$+&!-/&%4!!E9&!).%*'.)+;&%!*=!(9&!-/&%! )'&! '&-! %9$=(&-! )%! (9&! );;&@(*'! %('&+B(9! $+;'&)%&%! %7BB&%($+B! (9)(! (9&!;/)+$+&!=*'8!$%!8*'&!%().$<$Z&-!./!(9&!%('*+B&'!);;&@(*'%4!
!
! hL!
@<*((&-! T$(9! '&%@&;(! (*! (9&! 8*<)'! ).%*'@($?$(/! -&8*+%(')($+B! (9)(! (9&! &Y($+;($*+!
;*&==$;$&+(%!*=!(9&!-/&%!')+B&!='*8!M!Y!LKf!p!f!Y!LKM!3dL;8dL!=*'!(9&!rdrs!(')+%$($*+4!
! H(!;)+!.&!%&&+!(9)(!)%! (9&!);;&@(*'!%('&+B(9! $+;'&)%&%! (9&'&! $%!)!'&-!%9$=(! $+!
(9&!).%*'.)+;&!*=!.*(9!(9&!rdrs!)+-!;9)'B&!(')+%=&'!.)+-%4! !E9&!9/@*(9&%$%!$%!(9)(!
$+;'&)%$+B! (9&! );;&@(*'! %('&+B(9! T$<<! %().$<$Z&! (9&! +&B)($?&! ;9)'B&! @'*8*($+B! (9&!
;9)'B&!%&@)')(&-!%()(&R!@'*?$-$+B!'&-!%9$=(&-!).%*'.)+;&4!!#""dF<d,H!9)%!)!q8)Y!)+-!
q*+%&(! (9)(! <$&%!.&(T&&+!#""dF<dH+! )+-!#""dF<dgC4! !E9$%! %7BB&%(%! (9)(! (9&!);;&@(*'!
%('&+B(9!*=!,H!<$&%!.&(T&&+!(9)(!*=!H+!)+-!gC4!!E9&!&+&'B/!-$==&'&+;&!.&(T&&+!(9&!rd
rs!)+-!;9)'B&!(')+%=&'!.)+-%!$+;'&)%&%!T$(9!$+;'&)%$+B!);;&@(*'!%('&+B(94!!E9&!�q8)Y!
B')-7)<</! $+;'&)%&%!./!)@@'*Y$8)(&</!LgK!+8!*?&'!(9&!')+B&!*=!);;&@(*'%!%(7-$&-4!!
E9$%! -$==&'&+;&! $%! 8*%(! @'*+*7+;&-! $+! #""dF<d,H4! ! E9&! ;9)'B&! (')+%=&'! .)+-! $%!
.&<$&?&-!(*!;*''&%@*+-!(*!)+!$+(')8*<&;7<)'!;9)'B&!(')+%=&'!='*8!(9&!)8$+&!(*!(9&!
$8$+$78!(9'*7B9!(9&!.);Q.*+&!*=!(9&!-/&4!!H+!(9&!;)%&!*=!(9&!%('*+B&'!);;&@(*'%R!(9&!
;/)+$+&! %('7;(7'&! $%! 8*'&! @'*+*7+;&-! )<<*T$+B! =*'! )! B'&)(&'! %().$<$Z)($*+! *=! (9$%!
;9)'B&! (')+%=&'! .)+-! '&%7<($+B! $+! (9&! B'&)(&'! %9$=(! $+! ).%*'.)+;&! .&(T&&+! (9&!
8)Y$878!*=! (9&!rdrs!)+-! (9&!;9)'B&! (')+%=&'!@&)Q%4! ! H+! (9&!;)%&!*=! (9&!#""dF<d,H!
-/&R! (9&! ;9)'B&! %&@)')(&-! %('7;(7'&! $%! %$B+$=$;)+(</! %().$<$Z&-! -7&! (*! (9&!
)'*8)($Z)($*+!*=! (9&!);;&@(*'4! !E9&'&=*'&! (9$%!;9)'B&! (')+%=&'!.)+-! $%!%$B+$=$;)+(</!
'&-!%9$=(&-!;*8@)'&-!(*!(9&!rdrs!@&)Q4!!E9&!).%*'.)+;&!-)()!$%!%788)'$Z&-!$+!E).<&!
f4L4!!H(!;)+!)<%*!.&!%&&+!='*8!F$B7'&!f4kR!(9)(!(9&!;*<*'!;9)+B&!$%!?$%$.<&4!!
!
! hJ!
!
!
M:D:M'&KB?F@E'2@HGF=AB'.FC<G@GBF'#=KLAFC'
! H+!*'-&'!(*!B)$+!=7'(9&'!$+%$B9(!$+(*!(9&!%('7;(7'&!*=!(9&!;/)+$+&!-/&%R!@'*(*+!
+7;<&)'!8)B+&($;!'&%*+)+;&![LG!031]!%@&;(')!T&'&!()Q&+!)+-!;*8@)'&-4!!E9&!031!
*=! #""dF<dgC! ;)+! .&! %&&+! $+! F$B7'&! f4i4! ! H(! ;)+! .&! %&&+! ='*8! (9$%! 031! (9)(! (9&!
!!
E).<&! f4LO! 6788)'/! *=! (9&! ).%*'.)+;&! -)()4! ! H(! ;)+! .&! %&&+! (9)(! )%! (9&! ;9)'B&!%&@)')(&-!%('7;(7'&!$%!%().$<$Z&-R!(9&!-$==&'&+;&!.&(T&&+!(9&!q8)Y!*=!(9&!rdrs!)+-!DE!@&)Q%!$+;'&)%&%4!
!!F$B7'&!f4kO!H8)B&!*=!Q&(*;/)+$+&!-/&!%*<7($*+%!$+!#D34!2);9!-/&!%('7;(7'&!$%!;*<*'!8)(;9&-!(*!(9&!'&@'&%&+()($?&!-/&!%*<7($*+4!E9&!;*<*'!;9)+B&!*=!(9&!-/&%!;)+!.&!%&&+!./!(9&!+)Q&-!&/&4!!
!
! hf!
%('7;(7'&! $%! %/88&('$;! %7BB&%($+B! -&<*;)<$Z)($*+! )<*+B! (9&! .);Q.*+&! *=! (9&!
%('7;(7'&4! !E9&'&!)'&!%9$=(%! $+!(9&!@&)Q%!)%%$B+&-!(*!(9&!=<7*'&+*+&!@'*(*+%R!T9$;9!
)'&! %788)'$Z&-! $+!E).<&!f4J4! ! H(! ;)+!.&! %&&+! (9)(! (9&!@&)Q! (9)(!*'$B$+)(&%! )(! h4Mf
!
@@8! %9$=(! -*T+=$&<-! T9&+! %('*+B&'! );;&@(*'%! )'&! $+%()<<&-4! ! "<(&'+)($?&</R! T$(9!
%('*+B&'! );;&@(*'%R! (9&! @&)Q%! (9)(! *'$B$+)(&! )(! h4LJ!@@8!)+-!g4he!@@8!.*(9! %9$=(!
7@=$&<-4! !E9&%&!%9$=(%! ;)+!.&!&Y@<)$+&-!./! <**Q$+B!)(! (9&!'&%*+)+;&!%('7;(7'&%!*=!)!
!!F$B7'&!f4iO!LG!031!*=!#""dF<dgC4!!
!!
E).<&!f4JO!031!@&)Q%!=*'!(9&!=<7*'&+*+&!@'*(*+%!*=!(9&!Q&(*;/)+$+&!-/&%4!!,&)Q!L!%9$=(%! -*T+! =$&<-! T$(9! $+;'&)%$+B! );;&@(*'! %('&+B(9R! T9$<&! @&)Q%! J! )+-! M! %9$=(!7@=$&<-4!
!
! hM!
B&+&'$;! Q&(*;/)+$+&! -/&R! %9*T+! $+! F$B7'&! f4LK4! ! H+! (9&! =$'%(! (T*! '&%*+)+;&!
%('7;(7'&%R! (9&!+&B)($?&! ;9)'B&! $%! -&<*;)<$Z&-! (*! (9&! (T*!)+-! =*7'!@*%$($*+%!*=! (9&!
=<7*'&+*+&4!
!
H+;'&)%&-!&<&;('*+!-*+)($+B! ;9)');(&'! )(! (9&%&!@*%$($*+%R! )%! )! '&%7<(! *=! (9&! ;9)'B&!
%&@)')(&-! ;/)+$+&! %()(&R! '&%7<(%! $+! )+! 7@=$&<-! %9$=(! *=! (9&! @'*(*+%! )(! (9&%&! (T*!
@*%$($*+%4! ! H+! (9&! (9$'-R! )! @*%$($?&! ;9)'B&! $%! -&<*;)<$Z&-! (*! (9&! *+&! @*%$($*+! *=! (9&!
=<7*'&+*+&4! !E9&!&<&;('*+!T$(9-')T$+B!;9)');(&'!)(! (9&!*+&!@*%$($*+!*=! (9&!;9)'B&!
%&@)')(&-!;/)+$+&!%()(&R!'&%7<(%!$+!)!-*T+=$&<-!%9$=(!*=!(9&!@'*(*+!)(!(9$%!@*%$($*+4!!
! E9&!031!*=!#""dF<d,H!?)'$&%!%$B+$=$;)+(</!='*8!(9&!*(9&'!-/&%4!!"!;*8@)'$%*+!
*=!#""dF<dgC!)+-!#""dF<d,H!;)+!.&!%&&+!$+!F$B7'&!f4LL4!!E9&!LG!031!%7BB&%(%!(9)(!
(9&!8*<&;7<)'! %('7;(7'&! *=! (9$%! -/&! $%! +*(! %/88&('$;)<4! ! "--$($*+)<</R! (9&! X! ?)<7&%!
9&<@!7%!(*!$-&+($=/!T9$;9!@&)Q%!;*''&%@*+-!(*!(9&!=<7*'&+*+&!@&)Q%4!!H(!;)+!.&!%&&+!
(9)(! &);9! *=! (9&! %$Y! @'*(*+%! (9)(! ;*''&%@*+-! (*! (9&! =<7*'&+*+&! )'&! 8)B+&($;)<</!
$+&A7$?)<&+(4!!E9&%&!@&)Q%!)'&!)<%*!?)%(</!-$==&'&+(!$+!;9&8$;)<!%9$=(4! !E9$%!%7BB&%(%!
!!
F$B7'&!f4LKO!1&%*+)+;&!%('7;(7'&%!;)+!.&!7%&-!(*!&Y@<)$+!(9&!('&+-%!%&&+! $+!(9&!0314!!E9&!;)'.*+%!(9)(!9)?&!)!+&B)($?&!;9)'B&!$+!(9&!%9*T+!'&%*+)+;&!=*'8%!)'&!7@=$&<-!%9$=(&-R!T9$<&!(9&!*+&!T$(9!)!@*%$($?&!;9)'B&!$%!-*T+=$&<-!%9$=(&-4!
!
! he!
(9)(!#""dF<d,H!-&8*+%(')(&%!)!@)'($)<!.&+Z&+*$-!)+-!@)'($)<!A7$+*$-!%()(&R!%9*T+!$+!
F$B7'&!f4LJ4! !E9&!.&+Z&+*$-!@*'($*+!*=!(9&!=<7*'&+*+&!9)%!@'*(*+%!(9)(!)'&!7@=$&<-!
%9$=(&-!-7&!(*!(9&!<);Q!*=!)'*8)($;!'$+B!;7''&+(4!!E9&!@)'($)<!A7$+*$-!=*'8!*=!#""dF<d
,H!8*%(! <$Q&</! '&%7<(%! ='*8! (9&!);;&@(*'!B)$+$+B!)'*8)($;$(/! '&%7<($+B! $+!&+9)+;&-!
%().$<$Z)($*+!*=!(9&!;/)+$+&!-/&4! !
!
! H+!*'-&'!(*!=7'(9&'!%7@@*'(!(9&%&!'&%7<(%R!(9&!-/&%!T&'&!$+?&%($B)(&-!./!#FE!
7%$+B!:)7%%$)+! Kifk!T$(9! )! Sf5I,! <&?&<! *=! (9&*'/! )+-! gdfLLB[-R@]! .)%$%! %&(4! ! E9&!
%7'=);&%!;)<;7<)(&-!=*'!(9&!GC3C!&+&'B/!<&?&<%!*=!#""dF<dgC!)+-!#""dF<d,H!;)+!.&!
!!
F$B7'&!f4LLO!D*8@)'$%*+!*=!LG!031!*=!#""dF<dgC!)+-!#""dF<d,H4!
!!
F$B7'&!f4LJO!D9&8$;)<!%('7;(7'&!*=!(9&!;9)'B&!%&@)')(&-!%()(&!*=!#""dF<d,H4!!
!
! hg!
%&&+!$+!F$B7'&!f4Lf4!!H(!;)+!.&!%&&+!(9)(!$+!(9&!;)%&!*=!#""dF<dgCR!(9&!GC3C!&+&'B/!
<&?&<!$%!&?&+</!-$%('$.7(&-!(9'*7B9*7(!(9&!.);Q.*+&4!!E9$%!=7'(9&'!%7BB&%(%!(9)(!(9&!
%('7;(7'&! $%! %/88&('$;! )+-! (9)(! (9&'&! $%! -&<*;)<$Z)($*+! (9'*7B9*7(! (9&! 8*<&;7<&4!!
E9&! GC3C! *=! #""dF<d,H! $%! @'&=&'&+($)<</! <*;)<$Z&-! *+(*! 9)<=! *=! (9&! .);Q.*+&!
%7BB&%($+B! )+! )%/88&('$;! %('7;(7'&4! ! E9$%! $%! 8*%(! <$Q&</! )! '&%7<(! *=! #""dF<d,H!
&Y$%($+B!$+!(9&!;9)'B&!%&@)')(&-!%()(&4!
M:D:O'-AF?L'"JJFB='*E@GCAC=<E'2F@CKEFNFG=C'
! E9&! =$&<-! &==&;(! (')+%$%(*'! [F2E]!8*.$<$($&%! *=! (9$+! =$<8%! *=! (9&! Q&(*;/)+$+&!
-/&%! T&'&! 8&)%7'&-! 7%$+B! .*((*8! ;*+();(! -&?$;&%! T$(9! ?)'$*7%! ;9)++&<! <&+B(9%!
.*(9!.&=*'&!)+-!)=(&'!)++&)<$+B4!!"<<!*=!(9&!-/&%!T&'&!=*7+-!(*!.&!9*<&!(')+%@*'($+B!
&Y;&@(!=*'!#""dF<d,HR!T9$;9!$%!)8.$@*<)'4!!E9&!8)Y$878!8*.$<$(/!*=!&);9!8)(&'$)<R!
.&=*'&!)+-!)=(&'!)++&)<$+BR!$%!'&@*'(&-!$+!E).<&!f4f4!!H(!;)+!.&!%&&+!(9)(!$+!)<<!;)%&%!
&Y;&@(! #""dF<d,HR! (9&!8*.$<$(/! $%! <*T&%(! $+! (9&! ;)%&! *=! #""dF<! )+-! 9$B9&%(! $+! (9&!
;)%&%! *=! (9&! %('*+B&'! (T*! );;&@(*'%R! #""dF<dgC! )+-! #""dF<dg64! ! E9&! 8*.$<$(/! *=!
!!
F$B7'&!f4LfO!GC3C!&+&'B/!<&?&<%!*=!#""dF<dgC!)+-!#""dF<d,H!)%!;)<;7<)(&-!='*8!#FE4!!
!
! hh!
#""dF<!$%!*+!(9&!*'-&'!*=!LKdk!;8J!`dL!%dL4!!E9$%!$%!)@@'*Y$8)(&</!(9&!8*.$<$(/!*=!%8)<<!
8*<&;7<&! ('$)'/<)8$+&!8*<&;7<&%4! ! E9&! -/&%!T$(9! %('*+B! );;&@(*'%! )'&! ;*+W7B)(&-!
(9'*7B9*7(! (9&!8*<&;7<&! )+-! (9&'&=*'&! (9&!8*.$<$(/! $+;'&)%&%4! ! E9$%! )<%*! %7BB&%(%!
(9)(!(9&!-/&%!T$(9!%('*+B!);;&@(*'%!9)?&!$+;'&)%&%!;/)+$+&!;9)');(&'4!!E9&!8*.$<$(/!
*=! #""dF<d,H! $%! )@@'*Y$8)(&</! (9&! %)8&! )%! #""dF<4! ! E9$%! ;*7<-! .&! )! '&%7<(! *=! (9&!
;9)'B&!%&@)')(&-!%()(&!'&%7<($+B!$+!;9)'B&!(')@@$+B4!!
!
M:M'#KNN@EP''
! D/)+$+&! -/&%! 9)?&! %9*T+! @'*8$%&! =*'! )@@<$;)($*+%! $+! C,`%! -7&! (*! (9&$'!
&+9)+;&-! <$B9(! 9)'?&%($+B! ).$<$($&%4! ! V&(*;/)+$+&! -/&%! %9*T! (7+).<&! ).%*'.)+;&!
;9)');(&'$%($;%! (9'*7B9!8*-$=$;)($*+!*=! (9&! ;9&8$;)<! %('7;(7'&4! ! H+%()<<$+B! %('*+B&'!
&<&;('*+!);;&@(*'%!*+(*!(9&! =<7*'&+*+&!;*'&!'&%7<(%! $+!)!%$B+$=$;)+(!'&-!%9$=(! $+! (9&!
).%*'.)+;&! %@&;(')4! ! E9&! ;9&8$;)<! %9$=(%! $+! (9&! LG!031!*=!#""dF<d,H! %7BB&%(! (9)(!
!!E).<&!f4fO!3)Y$878!8*.$<$(/!*=!&);9!-/&!-&(&'8$+&-!7%$+B!.*((*8!;*+();(!F2E!;*+=$B7')($*+4! ! "<<! -/&%! %9*T! 9*<&! 8*.$<$(/R! T9$<&! #""dF<d,H! %9*T%! )8.$@*<)'!;9)'B&!(')+%@*'(4!
!
! hk!
(9$%! -/&! &Y$%(%! %*<&</! $+! (9&! @)'($)<! A7$+*$-! =*'8! '&%7<($+B! ='*8! &+9)+;&-!
%().$<$Z)($*+! *=! (9&! +&B)($?&! ;9)'B&! -7&! (*! (9&! B)$+! $+! )'*8)($;$(/! *=! (9&! );;&@(*'!
8*$&(/4! ! E9&! <$B9(! 9)'?&%($+B! )+-! 9*<&! (')+%@*'(! @'*@&'($&%! *=! (9&%&! -/&%! %7BB&%(!
(9)(!(9&/!8$B9(!.&!7%&=7<!)%!-*+*'!8)(&'$)<%!=*'!C,`%4!!!
M':O'"IYFEANFG=@?'
M:O:9'#PG=;FCAC'<J'MZR/LA]E<N<Y;FG@G=;EFGF/VZ9U/LA<GF'
!
! fRgd-$.'*8*@9&+)+(9'&+&diRLKd-$*+&! T)%! %/+(9&%$Z&-! );;*'-$+B! (*! )!
@7.<$%9&-!@'*;&-7'&fh4! !,9&+)+(9'&+&diRLKd-$*+&![e4eg!BR!Jg4h!88*<]!)+-!.&+Z*/<!
@&'*Y$-&![JLM!8BR!K4ki!88*<]!T&'&!%7%@&+-&-!$+!Je!85!+$('*.&+Z&+&4!!S'*8$+&![f!
85R! eh4h! 88*<]! T)%! -$%%*<?&-! $+! e! 85! +$('*.&+Z&+&! )+-! )--&-! -'*@T$%&4! ! E9&!
'&);($*+! T)%! )<<*T&-! (*! 9&)(! )(! LJK! �D! *?&'+$B9(4! ! 2(9)+*<! T)%! @*7'&-! $+(*! (9&!
'&);($*+!)+-! (9&!@'&;$@$()(&!T)%!;*<<&;(&-!)+-!T)%9&-!T$(9!&(9)+*<4! !E9&!@'*-7;(!
T)%!7%&-!T$(9*7(!=7'(9&'!@7'$=$;)($*+![ki!t]4!!LG!031![MKK3GZR!D#D<f]O!�!k4LJ![%R!
JGR!)]R!k4Kh![-R!JGR!X!�!k!GZR!.]R!h4gh![-R!JGR!X!�!k!GZR!;]4!
M:O:D'#PG=;FCAC'<J'MZR/LA]E<N</V+/J?K<EFG/V/<GF'
!
O O
Br Bra a
bb
c c
O
Br Braa
bb
c c
!
! hi!
! fRgd-$.'*8*diGd=<7*'&+did*+&! T)%! %/+(9&%$Z&-! );;*'-$+B! (*! )! @7.<$%9&-!
@'*;&-7'&ff4!!VCG![g4eJ!BR!LLi!88*<]!T)%!%7%@&+-&-!$+!Le!85!T)(&'!)+-!9&)(&-!(*!
LfK!�D4!!fRgd-$.'*8*@9&+)+(9'&+&diRLKd-$*+&![M4K!BR!LL4i!88*<]!T)%!)--&-4!!C+;&!
(9&! %*<7($*+! (7'+&-! .<);QR! V3+CM! [i4LM! BR! eJ4k! 88*<]! T)%! )--&-! $+! @)'(%! *?&'!
%&?&')<!8$+7(&%! )+-! '&);(&-! =*'! L! 9*7'4! ! E9&! '&);($*+!T)%!+&7(')<$Z&-!T$(9!M!85!
%7<=7'$;! );$-4! ! 6*-$78! .$%7<=$(&! T)%! )--&-! 7+($<! (9&! '&);($*+! (7+&-! /&<<*T4! ! E9&!
@'&;$@$()(&!T)%! ;*<<&;(&-! )+-!T)%9&-!T$(9!T)(&'4! ! E9&!@'*-7;(!T)%!7%&-!T$(9*7(!
=7'(9&'!@7'$=$;)($*+![ek!t]4!!LG!031![MKK3GZR!D#D<f]O!�!h4gh![%R!JGR!)]R!h4ee![-R!JGR!X!
�!k!GZR!.]R!h4Mi![-R!JGR!X!�!k!GZR!;]4!
M:O:M'#PG=;FCAC'<J'MZR/]AC[LAY;FGP?@NAG<\/V+/J?K<EFG/V/<GF'[!((/-?\'
!
! ,-J[-.)]f! [K4Jh! BR! K4f!88*<]R! ,[(S7]fGSFM! [K4Lh! BR! K4g!88*<]R! )+-!0)C(S7!
[L4h!BR!Lh4h!88*<]!T)%!%7%@&+-&-! $+!Je!85!-&B)%%&-!(*<7&+&!)+-!%($''&-!)(!'**8!
(&8@&')(7'&!=*'!LK!8$+%4! !#$@9&+/<)8$+&![J4f!BR!Lf4g!88*<]!)+-!fRgd-$.'*8*diGd
=<7*'&+did*+&![J4K!BR!e4i!88*<]!T)%!)--&-!)+-!(9&!'&);($*+!T)%!'&=<7Y&-!*?&'+$B9(4!!
E9&! (*<7&+&! T)%! '&8*?&-! 7+-&'! ?);778! )+-! (9&! ;'7-&! @'*-7;(! T)%! @7'$=$&-! *+!
D*8.$F<)%9![JJt]4!!LG!031![MKK3GZR!);&(*+&d-g]O!�!h4Mf![-R!JGR!X!�!k!GZR!)]R!h4fe!
[(R!kGR!X!�!k!GZR!.]R!h4Le![8R!LJGR!X!�!k!GZR!;w-]R!h4LJ![-R!JGR!X!�!J!GZR!&]R!g4he![--R!JGR!X!
�! kGZR! =]4! ! LfD! 031! [LKK3GZR! D#D<f]O! �! LiL4KR! LgJ4KR! Lef4eR! LMg4kR! LMe4fR! LJi4kR!
O
N N
aa
b
b
b
b
bb b
b
c
c
c
c
d
d
dd
d
dd
d
ee
f f
!
! kK!
LJi4hR!LJk4gR!LJg4LLJe4hR!LJe4JR!LJM4kR!LJM4eR!LJJ4MR!LJL4MR!LLe4JR!LLf4MR!Ji4L4!!8wZ!
;)<;7<)(&-!=*'!DfhGJg0JCO!eLM4J!=*7+-!./!F"SO!eLe4M4!
M:O:O'#PG=;FCAC'<J'D/[MZR/]AC[LAY;FGP?@NAG<\/V+/J?K<EFG/V/
P?ALFGF\N@?<G<GA=EA?F'[!((/-?/0&\'
!
! #""dF<! [LKK! 8BR! K4J! 88*<]! )+-! 8)<*+*+$('$<&! ! [fi! 8BR! K4ei! 88*<]! T&'&!
-$%%*<?&-!$+!Le!85!;9<*'*=*'84!!,$@&'$-$+&![K4LJ!85R!L4Lh!88*<]!T)%!)--&-!)+-!(9&!
'&);($*+!T)%!'&=<7Y&-!*?&'+$B9(4!!E9&!%*<?&+(%!T&'&!'&8*?&-!7+-&'!?);778!)+-!(9&!
;'7-&!8$Y(7'&!T)%! @7'$=$&-! ./! D*8.$=<)%9! [LKt]4! !;R=S(SFK6! LG!031! [MKK3GZR!
D#D<f]O!�!k4LM![-R!JGR!X!�!k!GZR!)]R!h4fL![(R!kGR!X!�!k!GZR!.]R!h4LM![8R!LJGR!;w-]R!g4ig![-R!
JGR!X!�!M!GZR!&]R!g4hf![--R!JGR!X!�!k!GZR!=]4!!LfD!031![LKK3GZR!D#D<f]O!�!Lef4fR!LMg4JR!
LMf4eR!LJi4iR!LJk4KR!LJh4hR!LJg4JR!LJe4fR!LJK4JR!LLe4fR!LLJ4gR!L4J4!!8wZ!;)<;7<)(&-!=*'!
DMKGJg0MO!egJ4J!=*7+-!./!F"SO!egJ4M4!
M:O:Q'#PG=;FCAC'<J'Q/[MZR/]AC[LAY;FGP?@NAG<\/V+/J?K<EFG/V/P?ALFGF\/9ZM/
LANF=;P?YPEANALAGF/DZOZR[9+ZM+ZQ+\/=EA<GF'[!((/-?/R,\'
!
N N
NC CN
aa
b
b
b
b
bb b
b
c
c
c
c
d
d
dd
d
dd
d
ee
f f
N N
NN
O
O
O
aa
b
b
b
b
bb b
b
c
c
c
c
d
g
d
dd
d
dd
d
ee
f f
g
!
! kL!
! #""dF<![eK!8BR!K4L!88*<]!)+-!LRfd-$8&(9/<.)'.$(7'$;!);$-![Mh!8BR!K4f!88*<]!
T&'&! -$%%*<?&-! $+! J! 85! );&($;! );$-! )+-! J! 85! );&($;! )+9/-'$-&! )+-! '&=<7Y&-!
*?&'+$B9(4! !E9&!);&($;!);$-!)+-!);&($;!)+9/-'$-&!T&'&!'&8*?&-!7+-&'!?);778!)+-!
(9&! ;'7-&!8$Y(7'&!T)%! -$%%*<?&-! $+! #D3! )+-!T)%9&-! (T$;&!T$(9!T)(&'! )+-! *+;&!
T$(9!%)(7')(&-!%*-$78!.$;)'.*+)(&4!!E9&!@'*-7;(!T)%!@7'$=$&-!./!D*8.$=<)%9![eLt]4!!
)HUSFS('!LG!031![MKK3GZR!);&(*+&d-g]O!�!k4KM![-R!JGR!X!�!k!GZR!)]R!h4fM![(R!kGR!X!�!k!
GZR!.]R!h4LM![8R!LJGR!;w-]R!g4kg![-R!JGR!X!�!M!GZR!&]R!g4Me![--R!JGR!X!�!k!GZR!=]R!f4Jg![%R!
gGR!B]4!!LfD!031![LKK3GZR!D#D<f]O!�!LgJ4LR!Lef4eR!LeL4kR!LMg4fR!LMg4KR!Lff4iR!LfJ4eR!
LJi4hR!LJg4MR!LJe4hR!LJe4fR!LLi4JR!LLL4gR!LKg4k4!Jk4h4!!8wZ!;)<;7<)(&-!=*'!DMfGfJ0MCfO!
geJ4f!=*7+-!./!F"SO!gef4e4!
M:O:R'#PG=;FCAC'<J'Q/[MZR/]AC[LAY;FGP?@NAG<\/V+/J?K<EFG/V/P?ALFGF\/9ZM/
LAF=;P?/D/=;A<I<LA;PLE<YPEANALAGF/OZR[9+ZQ+\/LA<GF'[!((/-?/R#\'
!
! #""dF<![eK!8BR!K4L!88*<]!)+-!LRfd-$&(9/<dJd(9$*.)'.$(7'$;!);$-![LgK!8BR!K4k!
88*<]!T&'&!-$%%*<?&-!$+!J!85!);&($;!);$-!)+-!J!85!);&($;!)+9/-'$-&!)+-!'&=<7Y&-!
*?&'+$B9(4! !E9&!);&($;!);$-!)+-!);&($;!)+9/-'$-&!T&'&!'&8*?&-!7+-&'!?);778!)+-!
(9&! ;'7-&!8$Y(7'&!T)%! -$%%*<?&-! $+! #D3! )+-!T)%9&-! (T$;&!T$(9!T)(&'! )+-! *+;&!
T$(9!%)(7')(&-!%*-$78!.$;)'.*+)(&4!!E9&!@'*-7;(!T)%!@7'$=$&-!./!D*8.$=<)%9![kgt]4!!
)HUSFS'F!LG!031![MKK3GZR!);&(*+&d-g]O!�!k4KL![-R!JGR!X!�!k!GZR!)]R!h4fg![(R!kGR!X!�!k!
N N
NN
O
S
O
aa
b
b
b
b
bb b
b
c
c
c
c
d
d
dd
d
dd
d
ee
f f
!
! kJ!
GZR!.]R!h4Lh![8R!LJGR!X!�!k!GZR!;w-]R!g4kf![-R!JGR!X!�!M!GZR!&]R!g4Mf![--R!JGR!X!�!k!GZR!=]4!!
LfD!031![LKK3GZR!D#D<f]O!�!Lik4fR!Lhh4eR!Lgh4kR!LgK4LR!Lei4KR!Lef4eR!LMg4kR!LMg4MR!
LMe4kR! LMe4fR! LfM4fR! LfJ4hR! LJi4hR! LJi4hR! LJk4gR! LJg4eR! LJe4hR! LJe4gR! LJe4fR! LJM4eR!
LJL4MR! LLi4KR! LLf4MR! LLL4hR! ih4eR! Mf4MR! Mf4LR! Je4gR! LJ4kR! LJ4eR! LJ4MR! LJ4L4! ! 8wZ!
;)<;7<)(&-!=*'!DMeGfg0MCJ6O!gig4f!=*7+-!./!F"SO!gih4g4!
M:O:T'#PG=;FCAC'<J'D/[MZR/]AC[LAY;FGP?@NAG<\/V+/J?K<EFG/V/P?ALFGF\/9+/
AGLFGF/9ZM[D+\/LA<GF'[!((/-?/$G\'
!
! #""dF<! [Je! 8BR! K4Ke! 88*<]! )+-! LRfd$+-)+-$*+&! [J! 8BR! K4Le! 88*<]! T&'&!
-$%%*<?&-!$+!J!85!);&($;!);$-!)+-!J!85!);&($;!)+9/-'$-&!)+-!'&=<7Y&-!*?&'+$B9(4!!E9&!
);&($;! );$-! )+-! );&($;! )+9/-'$-&! T&'&! '&8*?&-! 7+-&'! ?);778! )+-! (9&! ;'7-&!
8$Y(7'&! T)%! -$%%*<?&-! $+! #D3! )+-! T)%9&-! (T$;&! T$(9! T)(&'! )+-! *+;&! T$(9!
%)(7')(&-! %*-$78! .$;)'.*+)(&4! ! E9&! @'*-7;(! T)%! @7'$=$&-! ./! D*8.$=<)%9! [Met]4''
)HUSFS(B' LG!031! [MKK3GZR! );&(*+&d-g]O! �! k4gK! [-R! JGR! X! �! k!GZR! )]R! h4kk! [8R! MGR!
.w;]R!h4fh![(R!kGR!X!�!k!GZR!-]R!h4Lh![8R!LJGR!&w=]R!g4ii![-R!JGR!X!�!M!GZR!B]R!g4gM![--R!JGR!
X!�!k!GZR!9]4! !LfD!031![LKK3GZR!D#D<f]O!�!LiK4hR!LeJ4eR!LMg4eR!LMe4gR!LML4gR!LfM4fR!
Lff4gR! LfL4JR! LJi4hR! LJg4MR! LJg4LR! LJM4kR! LJJ4eR! LJK4LR! LLJ4e4! ! 8wZ! ;)<;7<)(&-! =*'!
DMgGfK0JCJO!gMJ4J!=*7+-!./!F"SO!gMf4e4!
N N
O O
aa
b b
c c
dd
d
d
d
d
d
de
e
f
f
e
e
ff f
f
f
f
g g
h h
!
! kf!
M:O:W'#PG=;FCAC'<J'O/[MZR/]AC[LAY;FGP?@NAG<\/V+/J?K<EFG/V/P?ALFGF\/M/
Y;FGP?AC<I@^<?/Q[O+\/<GF'[!((/-?/1$\'
!
! #""dF<![LLK!8BR!K4J!88*<]!)+-!fd@9&+/<ded$%*Y)Z*<*+&![LiJ!8BR!L4J!88*<]!
T&'&! -$%%*<?&-! $+! J! 85! );&($;! );$-! )+-! J! 85! );&($;! )+9/-'$-&! )+-! '&=<7Y&-!
*?&'+$B9(4! !E9&!);&($;!);$-!)+-!);&($;!)+9/-'$-&!T&'&!'&8*?&-!7+-&'!?);778!)+-!
(9&! ;'7-&!8$Y(7'&!T)%! -$%%*<?&-! $+! #D3! )+-!T)%9&-! (T$;&!T$(9!T)(&'! )+-! *+;&!
T$(9!%)(7')(&-!%*-$78!.$;)'.*+)(&4!!E9&!@'*-7;(!T)%!@7'$=$&-!./!D*8.$=<)%9![Lkt]4!!
)HUSFSGK!LG!031![MKK3GZR!);&(*+&d-g]O!�!k4hJ![-R!LGR!X!�!k!GZR!)]R!h4eJ![--R!JGR!X!�!
k!GZR!.]R!h4Mgdh4fL![8R!LLGR!;d=]R!h4JJdh4LM![8R!kGR!Bd$]R!h4Kh![--R!MGR!X!�!k!GZR!W]R!h4KL!
[-R!LGR!X!�!M!GZR!Q]R!g4iL![-R!LGR!X!�!M!GZR!<]R!g4ge![--R!LGR!X!�!k!GZR!8]R!g4fe![-R!LGR!X!�!k!
GZR! +]R! e4ik! [--R! LGR! X! �! k!GZR! *]4! ! LfD!031! [LKK3GZR! );&(*+&d-g]O! �! LhL4gR! Lgf4kR!
Lei4gR! LeM4MR! Lef4eR! LMg4iR! LMg4hR! LMg4KR! LMe4iR! Lff4hR! Lff4KR! LfJ4fR! LfK4iR! LfK4hR!
LfK4hR! LfK4gR! LJi4hR! LJi4fR! LJh4fR! LJh4LR! LJg4fR! LJg4fR! LLi4MR! LLk4JR! LLJ4hR! LLJ4MR!
LKh4f4!!8wZ!;)<;7<)(&-!=*'!DMgGfL0fCJO!geh4J!=*7+-!./!F"SO!gek4M4!
M:O:V'#<?K=A<G'(]C<E]@GBF'
! 6*<7($*+! ).%*'.)+;&! %@&;(')! T&'&! '&;*'-&-! *+! )! D)'/! LKK!
%@&;('*@9*(*8&(&'! $+! #D34! ! "<<! &Y($+;($*+! ;*&==$;$&+(%! T&'&! -&(&'8$+&-! ='*8! )!
<$+&)'!=$(!*=!=$?&!-)()!@*$+(%4!!!
N N
ON
O
a
b
c
d
e
f
h
i
j
k l
m
n
o
jj
j
i
h
h
h
g
g b
c
cc
d
d
d
e
!
! kM!
M:O:9U'*;AG'-A?N'*E@GCAC=<E'-@]EAB@=A<G'@GL'2F@CKEFNFG=C'
! "<<! 8&)%7'&8&+(%! T&'&! ;)''$&-! *7(! 7+-&'! $+&'(! )(8*%@9&'&! 7%$+B! "B$<&+(!
MLegD! @'&;$%$*+! %&8$;*+-7;(*'! @)')8&(&'! )+)</Z&'4! ! E9&! =$&<-! &==&;(! (')+%$%(*'%!
T&'&! ;*+%('7;(&-! 7%$+B! @'&d@)((&'+&-! %7.%(')(&%!8)-&! *=! 9&)?$</! +d-*@&-! %$<$;*+!
%7.%(')(&!T$(9!)!JfK!+8!%$<$;*+!-$*Y$-&!<)/&'!)+-!)!;)@);$()+;&!*=!LM4i!+Fw;8J4!!E9&!
B*<-!%*7';&!)+-!-')$+!&<&;('*-&%!T&'&!-&@*%$(&-!*+!(9&!B)(&!*Y$-&!<)/&'!'&%7<($+B!$+!
.*((*8! ;*+();(! F2E%4! ! S&=*'&! (9&! =$<8%! T&'&! %@$+! ;*)(&-! *+(*! (9&! %7'=);&R! (9&!
%7.%(')(&%!T&'&!;<&)+&-!T$(9!);&(*+&!)+-!-'$&-!T$(9!)+!)'B*+!%('&)84!!6*<7($*+%!*=!
LK8Bw! 85! $+! ;9<*'*=*'8! T&'&! %@$+! ;*)(&-! *+(*! (9&! %7'=);&! [LeKK! '@8! =*'! Me!
%&;*+-%]4!!E9&!-&?$;&%!T&'&!8&)%7'&-!.*(9!.&=*'&!)+-!)=(&'!)++&)<$+B!)(!kK!�D!=*'!
fK!8$+%4!!E9&!;9)++&<!T$-(9!*=!)<<!(')+%$%(*'%!T)%!LK!88!)+-!;9)++&<!<&+B(9%!T&'&!
J4e!�8R!e!�8R!LK!�8R!)+-!JK!�84! !3*.$<$($&%!T&'&!-&(&'8$+&-! ='*8!(9&!%)(7')(&-!
'&B$8&!)+-!8)Y$878!8*.$<$(/!)'&!'&@*'(&-4!!!
!
!
!
! ke!
!
LG!)+-!LfD!031!*=!#""dF<dD0!
!
! kg!
!
LG!)+-!LfD!031!*=!#""dF<dgC!
!
! kh!
!
LG!)+-!LfD!031!*=!#""dF<dg6!
!
! kk!
!
LG!)+-!LfD!031!*=!#""dF<dH+!
!
! ki!
!
LG!)+-!LfD!031!*=!#""dF<d,H!
!
! iK!
M:Q'.FJFEFGBFC'
! [L]! 3$%9')R! "4u! S&9&')R! 14! V4u! S&9&')R! ,4! V4u! 3$%9')R! S4! V4u! S&9&')R! :4! S4!D/)+$+&%!#7'$+B!(9&!LiiK%O�!"!1&?$&T4!-3&41,H&C1!DUUUR!F66R!LihfdJKLJ4!
! [J]! _~'(9+&'R! F4u!_*'(8)++R! 14u!3)(%;9$+&'R! 14u! 57Q)%Z7QR! V4u!3&&'9*<ZR!V4u!#&0)'-$+R!I4u!S$((+&'R!14u!S'{7;9<&R!D4u!6&+%R!14!3&'*;/)+$+&!#/&%!$+!(9&!D/)+$+&!5$8$(O! "! 0&T! D<)%%! *=! D9'*8*@9*'&%! =*'! ,9*(*'&=');($?&!3)(&'$)<%4!;89&?1, -3&41,@8#1,7A1!9VVTR!(QR!JhgedJhgk4!
! [f]! :7$<<)78&R! 34u! 5$�B&*$%R! `4u! D9)8@)B+&R! S4u! ^7((&'8)+R! F4! E$8&d#&@&+-&+(!#&+%$(/!F7+;($*+)<!E9&*'/!H+?&%($B)($*+!*=!(9&!".%*'@($*+!)+-!28$%%$*+!6@&;(')!*=!)!D/)+$+&!#/&4!-3&41,=3:.V,>&##1!DUUTR!''QR!LgedLgi4!
! [M]! G$<-&'.')+-R! 64! "4u! V&<</R! V4! "4u! _&$%%<&-&'R! 14u! E7+BR! D4dG4!3*+*=7+;($*+)<! 0&)'dH+=')'&-! F<7*'*;9'*8&%! =*'! H8)B$+B! "@@<$;)($*+%4!UE*D*8W$9"#&,-3&41!DUUQR!FQR!LJhedLJkL4!
! [e]! X7R! X4u! :<)Z&'R! "4! 04u! 3)(9$&%R! 14! "4! D)%%&((&! 5).&<$+B! =*'! F);$<&!D*+%('7;($*+!*=! 2+&'B/!E')+%=&'! F<7*'&%;&+(!,'$8&'%4!!$D+&ED,;DEA.,H&.1!9VVRR!5'R!LLMMdLLMk4!
! [g]! 1*%&+.<78R!S4!S4u!5&&R!54!:4u!6@7'B&*+R!64!54u!V9)+R!64!G4u!3&+;9&+R!64!34u!G&$+&'R! D4! 14u! D9&+R! 64! 34! 0&T! #/&d5).&<&-! E&'8$+)(*'%! =*'! H8@'*?&-! #0"!6&A7&+;$+B!,)((&'+%4!!$D+&ED,;DEA.,H&.1!9VVTR!5GR!MeKKdMeKM4!
! [h]! E*7(;9Q$+&R!"4u!V')/+*?R!`4u!G)9+R!V4!6*<?&+(d6&+%$($?&!#/&%!(*!1&@*'(!,'*(&$+!D*+=*'8)($*+)<!D9)+B&%!$+!5$?$+B!D&<<%4!01,;41,-3&41,)*D1!DUUMR!F5GR!MLfJdMLMe4!
! [k]! V7<$+$;9R! "4! `4u! H%9;9&+Q*R! "4! "4! 3&'*;/)+$+&! #/&%O! 6/+(9&%$%R!6('7;(7'&R!,'*@&'($&%!)+-!"@@<$;)($*+%4!H$..1,-3&41,H&C1!DUUVR!B/R!LML4!
! [i]! 6('&Q*T%Q$R!54u!69$'$+$)+R!`4!^4u!69$8Q$+R!"4!"4O!3&'*;/)+$+&%O!6/+(9&%$%!)+-!"@@<$;)($*+4!H+!I&#&%*D:D+ED,=*+:4E8&,R:&.u!E*@$;%!$+!G&(&'*;/;<$;!D9&8$%('/u!6@'$+B&'!S&'<$+!G&$-&<.&'BR!JKKku!`*<4!LMu!@@!hedLKe4!
! [LK]! S'**Q&'R!54!:4!64u!V&/&%R!:4!G4u!6@')B7&R!14!G4u!`)+#/Q&R!14!G4u!`)+5)'&R!24u!`)+^)+-(R!:4u!_9$(&R!F4!54u!D'&%%8)+R!G4!_4!X4u!#&+(R!64!:4!D*<*'!)+-!D*+%($(7($*+O!".%*'@($*+!*=!(9&!3&'*;/)+$+&%4!01,;41,-3&41,)*D1!9VQ9R!B(R!effJdefeK4!
! [LL]! S'**Q&'R!54!:4!64u!V&/&%R!:4!G4u!G&%&<($+&R!#4!_4!D*<*'!)+-!D*+%($(7($*+O!"+9/-'*+$78!S)%&%! *=! @dG/-'*Y/%(/'/<!#/&%! )%! 6*<?&+(!,*<)'$(/! H+-$;)(*'%4! 01, ;41,-3&41,)*D1!9VQ9R!B(R!efeKdefeg4!
! [LJ]! D$((&'$*R!#4u!V)T)-)R!E4u!I)B$R!X4u!H%9$B)Q$R!E4u!G$%)8*(*R!G4u!6)%)Q$R!64d$4u!67Z7Q$R!V4!3*<&;7<)'!#&%$B+R!D9)');(&'$Z)($*+R!)+-!"@@<$;)($*+!*=!37<($$+=*'8)($*+!
!
! iL!
#/&%! =*'! C@($;)<! D9&8$;)<! 6&+%$+BO! H`4! 37<($$+=*'8)($*+! #/&%! T$(9! 2Y(&+-&-!6@&;(')<!6&+%$($?$(/!$+!(9&!0&)'dH+=')'&-!6@&;(')<!1)+B&4!;8"+1,-3E41,;D#"!DUUMR!'/5R!LidJk4!
! [Lf]! 1&$;9)'-(R! D4! 6*<?)(*;9'*8$;! #/&%! )%! 6*<?&+(! ,*<)'$(/! H+-$;)(*'%4!-3&41,H&C1!9VVOR!K'R!JfLidJfek4!
! [LM]! 1&Z&+-&R!34!D4u!D)8@*-*+$;*R!,4u!".7$+R!24u!V*%%)+/$R!X4!3&'*;/)+$+&dE/@&! #/&%! ='*8! S)'.$(7'$;! ";$-! #&'$?)($?&%4! )<&D#%*D3E41, ;D#"V, ="%#, ;! DUU9R! GBR!LLkfdLLiK4!
! [Le]! ^9)+BR! ^4u! ";9$<&=7R! 64! #&%$B+R! 6/+(9&%$%! )+-! 2?)<7)($*+! *=! 0&)'dH+=')'&-! F<7*'&%;&+(! @G! H+-$;)(*'%! $+! )! ,9/%$*<*B$;)<</! 1&<&?)+(! 1)+B&4! -3&41,-*44$81!DUUQR!ekkhdekki4!
! [Lg]! D$((&'$*R!#4u!C8)B)'$R!34u!V)T)-)R!E4u!6)%)Q$R!64d$4u!67Z7Q$R!I4u!67Z7Q$R!V4!D9'*8*B&+$;!S&()$+&!5)'$)(&%!=*'!G$B9</!6&<&;($?&!D)<;$78!H*+!6&+%$+B!$+!"A7&*7%!2+?$'*+8&+(4!;8"+1,-3E41,;D#"!DUUOR!G6'R!JJhdJfM4!
! [Lh]! E9*8)%R!V4!X4u!E9*8)%R!V4!:4u!3)+*WQ78)'R!E4!V4u!#)%R!64u!:&*'B&R!34!`4!D)($*+! S$+-$+B! )+-! ,9*(*@9/%$;)<! ,'*@&'($&%! *=! )! 3*+*)Z)dLedD'*T+ded2(9&'!5$+Q&-!D/)+$+&!#/&4!=%*D1,@8AE"8,;D"A1,)DE1,X-3&41,)DE1Y!9VVOR!F6QR!LfhedLfkJ4!
! [Lk]! S)'+).)%R!34!`4u!5$7R!"4!#4u!E'$=7+);R!"4!#4u!V'*+B)7ZR!`4!`4u!D9)+BR!D4!E4!6*<?&+(! 2==&;(%! *+! (9&! ,9*(*;9&8$%('/! *=! )! V&(*;/)+$+&! #/&! )+-! $(%! F7+;($*+)<!"+)<*B4!3$;9<&'m%!V&(*+&4!01,=3:.1,-3&41!9VVDR!KQR!JLJdJLh4!
! [Li]! #)%R! 34u! 6)'-)'R! 64! V4u! S)B;9$R! 64! 2<&;('*+$;! 6@&;(')! )+-![G/@&'],*<)'$Z).$<$($&%!*=!V&(*;/)+$+&!#/&!D*8@<&Y&%!T$(9!3&()<!H*+%4!01,2*+1,)#%$D#1!DU9MR!F6((R!JfgdJMJ4!
! [JK]! #*'*%9&+Q*R!"4!C4u!,$?*?)'&+Q*R!`4!:4!F<7*'&%;&+;&!j7&+;9$+B!*=! (9&!V&(*;/)+$+&!#/&%! $+!,*<)'!6*<?&+(%O!"+($dEHDE!S&9)?$*'4! 01,=3*#*D3&41,=3*#*JE*+1,;!DUUMR!FGQR!eedgM4!
! [JL]! #*'*%9&+Q*R!"4!C4u!S$<*Q$+R!34!#4u!,$?*?)'&+Q*R!`4!:4!0&T!F<7*'&%;&+(!#/&! *=!#$.&+Z)<;/;<*@&+()+*+&! 6&'$&%! ,*%%&%%$+B! H+;'&)%&-! 6*<?)(*;9'*8$%8! )+-!a2+&'B/! :)@! 5)Tb! 1&B7<)(&-! F<7*'&%;&+;&! j7&+;9$+B! $+! ,*<)'! 6*<?&+(%4! 01,=3*#*D3&41,=3*#*JE*+1,;!DUUOR!FQ(R!iedLKJ4!
! [JJ]! V&-$)R!04u! 6)'Q)'R!"4u!,7'Q)/)%(9)R!,4u!S)B;9$R! 64!V&(*;/)+$+&!#/&%!)%!6&+%*'%!=*'!,'*($;$(/!)+-!@G!*=!)!3&-$784!)<&D#%*D3E41,;D#",="%#,;!DU9DR!KGR!egidehe4!
! [Jf]! ,7/*<R!34u!2+;$+)%R!D4u!1$?&')R!54u!3$<(%*?R!64u!"<*+%*R!X4!6/+(9&%$%!*=!0&T!V&(*;/)+$+&!#/&%!=*'!(9&!#&?&<*@8&+(!*=!C@($;)<!6&+%*'%O!C@($;)<!D9)');(&'$%)($*+!)+-!6*<?)(*;9'*8$;!S&9)?$*7'4!)&8.1,;D#$"#*%.,U!DUURR!FFGR!JkhdJig4!
!
! iJ!
! [JM]! 3$<(%*?R!64u!2+;$+)%R!D4u!"<*+%*R!X4!0*?&<!6/+(9&%$%!*=!V&(*;/)+$+&!#/&%4!L&#%"3&A%*8,>&##1!DUU9R!'5R!gLJidgLfL4!
! [Je]! 1$?&')R! 54u! ,7/*<R! 34u! 3$<(%*?R! 64u! `$<<7&+-)%R! F4u! "<*+%*R! X4! 0&T!V&(*;/)+$+&dS)%&-! F<7*'&%;&+(! C@(*-&%! =*'! (9&! #&?&<*@8&+(! *=! H+(&B')(&-!_)?&B7$-&!6&+%*'%4!)&8.1,;D#$"#*%.,U!DUURR!FF'R!hKedhLJ4!
! [Jg]! S7';Q%(788&'R! G4u! V'*+&+.&'BR! 04! 34u! :%)+B&'R! 34u! 6(*<(&R! 34u!3&&'9*<ZR!V4u!_7'(9+&'R! F4! E)$<*'&-!3&'*;/)+$+&!#/&%! =*'! 6*<7($*+d,'*;&%%&-!SGX!6*<)'!D&<<%4!01,2"#&%1,-3&41!DU9UR!56R!JMKdJMf4!
! [Jh]! 3&+BR! F4u! D9&+R! V4u! E$)+R! G4u! ^7@@$'*<$R! 54u! 07&%;9R! F4! D/)+$+&! #/&!";($+B! S*(9! )%! #*+*'! )+-! ";;&@(*'! $+! G&(&'*W7+;($*+! ,9*(*?*<()$;! #&?$;&%4!;<<+1,=3:.1,>&##1!DUUMR!/5R!fhkkdfhiK4!
! [Jk]! 0~&%;9R! F4u! F)&%R! "4u! ^7@@$'*<$R! 54u! 3&+BR! F4u! D9&+R! V4u! E$)+R! G4!D*7+(&'$*+! 2==&;(%! $+! D/)+$+&! G&(&'*W7+;($*+! ,9*(*?*<()$;! #&?$;&%4! 01, 2"#&%1, )DE1!DUUQR!'6R!LfefdLfeh4!
! [Ji]! E)8&&?R! "4! 14u! `)++$Q*?R! "4! `4u! 6;9**R! G4! F4! 34! D9)'B&! 3*.$<$(/! )+-!,9*(*?*<()$;! S&9)?$*7'! *=! D)'.*;/)+$+&! #/&! 5)/&'%! #&@*%$(&-! ./! E9&'8)<!2?)@*')($*+!$+!`);7784!L3E8,)*+EA,ME+4.!DUUOR!'GFN'G5R!LKidLLL4!
! [fK]! D)%('*R!F4!"4u!F)&%R!"4u!:&$B&'R!E4u!:')&==R!D4!F4!C4u!0)B&<R!34u!0~&%;9R!F4u!G)+/R! 14! C+! (9&! >%&! *=! D/)+$+&! #/&%! )%! 5*TdS)+-B)@! 3)(&'$)<%! $+! S7<Q!G&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!):8#31,2!DUURR!FGQR!ihfdihk4!
! [fL]! 0~&%;9R! F4u! E*'+)'&R! :4u! ^7@@$'*<$R! 54u! 3&+BR! F4u! D9&+R! V4u! E$)+R! G4!H+(&'=);&! 3*-$=$;)($*+! (*! C@($8$Z&! D9)'B&! 6&@)')($*+! $+! D/)+$+&! G&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!)*+1,78&%9:,2"#&%1,)*+1,-&++.!DUUQR!/BR!kLhdkJM4!
! [fJ]! C()Q)R!G4u!V$')R!34u!I)+*R!V4u!H(*R!64u!3$(&Q7')R!G4u!V)T)()R!E4u!3)(%7$R!F4!37<($dD*<*'&-!#/&d6&+%$($Z&-!6*<)'!D&<<%4! 01,=3*#*D3&41,=3*#*JE*+1,;!DUUOR!FQ'R!ghdhf4!
! [ff] "+-'&7R!14u!D)'')%A7&'R!54u!:)'�+R!X4u!3*-'&B*R!34!X4u!C'-7+)R!X4u!"<$;)+(&R!14u!`$<<);)8@)R!S4u!"<<)$+R!34!0&T!C+&d!)+-!ET*d#$8&+%$*+)<!MGd,/')+/<$-&+&!05Cd,9*'&%4!L&#%"3&A%*8,>&##1!DUUVR!G6R!JiJKdJiJM4!
! [fM] I)*R!I4d64u!o$)*R!X4u!_)+BR!o4d64u!#&+BR!o4dS4u!^9)+BR!S4d_4!6()'.7'%(!#D3dE/@&!1&-d5$B9(d28$(($+B!3)(&'$)<%!=*'!2<&;('*<78$+&%;&+;&!"@@<$;)($*+%4!;AC1,M$8D#1,2"#&%1!DUURR!FQR!hKidhLk4!
! [fe]! E&9=&R! 34d"4u! #787'R! F4u! :')==R! S4u! 3*'<&(d6)?)'/R! F4u! :$B8&%R! #4u!F*7)%%$&'R! X4d,4u! 5)<&?�&R! X4! ,7%9p,7<<! [E9$*]S)'.$(7'$;! ";$-! #&'$?)($?&%! $+! #/&!,9*(*%&+%$($Z&-!1)-$;)<!)+-!D)($*+$;!,*</8&'$Z)($*+!1&);($*+%!>+-&'!MehwMhf!+8!5)%&'!S&)8%!*'!S<7&!52#%4!=*+:41,-3&41!DU9MR!'R!fkggdfkhe4!
!
! if!
! [fg]! 3)'-&'R! 64! 14u! D9&+BR! 54dE4u! E$&8)++R! SR! :4u! F'$&-<$R! "4! D4u! S<)+;9)'-d#&%;&R! 34u! ,&''/R! X4! _4u! 6Q$+-9*WR! X4! 5)'B&! F$'%(! G/@&'@*<)'$Z).$<$($&%! $+! ,7%9d,7<<!,*</&+&%!./!E7+$+B!*=!(9&!S*+-!5&+B(9!"<(&'+)($*+!)+-!"'*8)($;$(/4!)DE&8D&!9VVOR!5Q(R!eLLdeLM4!!! [fh]! V*.$+R! S4u! :'7.&'(R! 54u! S<78%(&+B&<R! 64u! G&++&.&'B&'R! F4u! G&;9(R! 64!`);778d,'*;&%%).<&! 5)--&'dE/@&! C<$B*@9&+/<&+&%! =*'! C'B)+$;dH+*'B)+$;! G/.'$-!6('7;(7'&%O! 6/+(9&%$%R! C@($;)<! )+-! 2<&;('*;9&8$;)<! ,'*@&'($&%! >@*+! H+;'&)%$+B!,<)+)'$Z)($*+!)%!_&<<!)%!E9$+!F$<8!:'*T(94!01,2"#&%1,-3&41!DU9DR!55R!MfkfdMfiK4!
!! [fk]! :)7%%$)+!KiR!1&?$%$*+!"4LR!F'$%;9R!34! X4u!E'7;Q%R!:4!_4u!6;9<&B&<R!G4!S4u!6;7%&'$)R!:4!24u!1*..R!34!"4u!D9&&%&8)+R!X4!14u!6;)<8)+$R!:4u!S)'*+&R!`4u!3&++7;;$R!S4u!,&(&'%%*+R!:4!"4u!0)Q)(%7W$R!G4u! D)'$;)(*R!34u! 5$R! o4u!G')(;9$)+R!G4!,4u! HZ8)/<*?R!"4! F4u!S<*$+*R! X4u! ^9&+BR!:4u! 6*++&+.&'BR! X4! 54u!G)-)R!34u! 29)')R!34u! E*/*()R!V4u! F7Q7-)R!14u!G)%&B)T)R! X4u! H%9$-)R! 34u! 0)Q)W$8)R! E4u! G*+-)R! I4u! V$()*R! C4u! 0)Q)$R! G4u! `'&?&+R! E4u!3*+(B*8&'/R!X'4R!X4!"4u!,&')<()R!X4!24u!CB<$)'*R!F4u!S&)'@)'QR!34u!G&/-R!X4!X4u!S'*(9&'%R!24u!V7-$+R!V4!04u!6()'*?&'*?R!`4!04u!V*.)/)%9$R!14u!0*'8)+-R!X4u!1)B9)?);9)'$R!V4u!1&+-&<<R!"4u!S7')+(R!X4!D4u!H/&+B)'R!64!64u!E*8)%$R!X4u!D*%%$R!34u!1&B)R!04u!3$<<)8R!X4!34u!V<&+&R!34u!V+*YR!X4!24u!D'*%%R!X4!S4u!S)QQ&+R!`4u!"-)8*R!D4u!X)')8$<<*R!X4u!:*8@&'(%R!14u!6(')(8)++R!14!24u!I)Z/&?R!C4u!"7%($+R!"4! X4u!D)88$R!14u!,*8&<<$R!D4u!C;9(&'%Q$R! X4!_4u!3)'($+R!14!54u!3*'*Q78)R!V4u!^)Q'Z&T%Q$R!`4!:4u!`*(9R!:4!"4u!6)<?)-*'R!,4u!#)++&+.&'BR!X4!X4u!#)@@'$;9R!64u! #)+$&<%R! "4! #4u! F)'Q)%R! �4u! F*'&%8)+R! X4! S4u! C'($ZR! X4! `4u! D$*%<*T%Q$R! X4u! F*YR! #4! X4!:)7%%$)+R!H+;4R!_)<<$+B=*'-!DER!JKKi4!
!
! iM!
0+(1*".'O'
!,&,.'(00"1*,.'#)#*"2#'(#'#"&#$*$`".#'-,.'74,05'0,1,4)2".'
1+,*,3,4*($0#'
O:9'$G=E<LKB=A<G''
! E9&!8*%(!%7;;&%%=7<!C,`%!(*!-)(&!)'&!=).'$;)(&-!='*8!)!;*+W7B)(&-!@*</8&'!
-*+*'! )+-! )!8*-$=$&-! =7<<&'&+&! );;&@(*'! $+! )! .7<Q! 9&(&'*W7+;($*+! ;*+=$B7')($*+LRJ4!!
E9&!).%*'@($*+!*=!(9&!);($?&!<)/&'!'&<$&%!@'&-*8$+)+(</!*+!(9&!;*+W7B)(&-!@*</8&'4!!
E9&'&=*'&R!%$B+$=$;)+(!)((&+($*+!9)%!.&&+!@)$-!(*!(9&!-&%$B+!)+-!%/+(9&%$%!*=!-*+*'d
);;&@(*'! [#d"]! @*</8&'%! T$(9! <*T! .)+-B)@%! =*'! &+9)+;&-! <$B9(! 9)'?&%($+Bfdg4!!
C'.$()<!8$Y$+B!*=! (9&!-*+*'!)+-!);;&@(*'!8*$&($&%! $+! (9&!.);Q.*+&!*=! (9&!@*</8&'!
'&%7<(! $+! )! -&;'&)%&! *=! (9&! .)+-B)@! T9$;9! ;)+! .&! 8)+$@7<)(&-! ./! ?)'/$+B! (9&!
$+-$?$-7)<!;*8@*+&+(%hdLf4!
! E9&!8*'@9*<*B/!*=!(9&!);($?&!<)/&'!$%!)<%*!;'$($;)<!=*'!'&)<$Z$+B!9$B9!&==$;$&+;/!
-&?$;&%4! ! 2==$;$&+(! ;9)'B&! %&@)')($*+R! ;9)'B&! (')+%@*'(R! )+-! ;9)'B&! ;*<<&;($*+! )<<!
-&@&+-! %$B+$=$;)+(</! *+! (9&! 8*'@9*<*B/! *=! (9&! );($?&! <)/&'LMdLg4! ! H(! $%! (9&'&=*'&!
+&;&%%)'/! (9)(! (9&! );($?&! <)/&'! *=! (9&! -&?$;&%! 9)?&! )!T&<<d*'-&'&-! )+-! ;*+('*<<&-!
8*'@9*<*B/4! !>+=*'(7+)(&</R!(9&!8*'@9*<*B$&%!'&%7<($+B!='*8!(9&!@9)%&!%&@)')($*+!
*=! ;*+W7B)(&-!@*</8&'%!)'&! $''&B7<)'!)+-!-$==$;7<(! (*! ;*+('*<LhdLi4! ! 6$B+$=$;)+(! =*;7%!
9)%!.&&+!@<);&-!*+!8)+$@7<)($+B!%*<?&+(!%/%(&8%JKRJLR!)++&)<$+B!;*+-$($*+%JJdJMR!)+-!
(9&!7%&!*=! %*<?&+(! )--$($?&%JedJh! $+!*'-&'! (*! B)$+! ;*+('*<! *?&'! (9&! <&+B(9! %;)<&! )+-!
;*+($+7$(/!*=!(9&!);($?&!<)/&'!-*8)$+%4!
! S<*;Q! ;*@*</8&'%! )'&! )! %@&;$=$;! (/@&! *=! ;*@*</8&'! (9)(! ;*+%$%(%! *=! (T*!
-$==&'&+(!9*8*@*</8&'%!(9)(!)'&!;*?)<&+(</!)(();9&-4!!6$B+$=$;)+(!)((&+($*+!9)%!.&&+!
!
! ie!
@)$-!(*!(9&!%(7-/!*=!.<*;Q!;*@*</8&'%!-7&!(*!(9&$'!%7@&'$*'!8*'@9*<*B$;)<!;*+('*<Jkd
fK4! ! S<*;Q! ;*@*</8&'%! )'&! ;)@).<&! *=! B&+&')($+B! )! ?)'$&(/! *=! +)+*%('7;(7'&-!
8*'@9*<*B$&%!$+!(9$+!=$<8%4!!E9&!8*'@9*<*B/!*=!)!.<*;Q!;*@*</8&'!$%!-$;()(&-!./!(T*!
@)')8&(&'%O! 0R! (9&! 8*<&;7<)'! T&$B9(! *=! &);9! .<*;QR! )+-! �R! (9&! F<*'/dG7BB$+%!
$+(&');($*+!@)')8&(&'R!)!8&)%7'&!*=!(9&!$+;*8@)($.$<$(/!*=!(9&!(T*!.<*;Q%JkRJi4!!
! S<*;Q! ;*@*</8&'%! 9)?&! 8)+/! -&%$').<&! ;9)');(&'$%($;%! =*'! C,`%4! ! F$'%(</R!
=<&Y$.<&! @*</8&'%! T$(9! $+%7<)($+B! .);Q.*+&%! )'&! %$B+$=$;)+(</! 8*'&! %*<7.<&! (9)+!
;*+W7B)(&-! @*</8&'%R! T9$;9! '&A7$'&! %$B+$=$;)+(! %*<7.$<$Z$+B! B'*7@%! =*'! %*<7($*+!
@'*;&%%$+B4! ! 6&;*+-</R! $+! )! .<*;Q! ;*@*</8&'R! (9&! -*+*'! )+-! );;&@(*'! -*8)$+%! )'&!
;*?)<&+(</!)(();9&-! (*!&);9!*(9&'R! $+;'&)%$+B! (9&! $+(&'=);$)<!)'&)!)+-!B7)')+(&&$+B!
)+!$+(&'=);&!=*'!&Y;$(*+!-$%%*;$)($*+!T$(9$+!(9&!&Y;$(*+!-$==7%$*+!<&+B(9fLdfh4! !5)%(</R!
(9&!8*'@9*<*B/! ;*+('*<! *=! .<*;Q! ;*@*</8&'%! )<<*T%! );;&%%! (*! a$-&)<b! -*8)$+%! =*'!
C,`%4! ! 68)<<R! ;*+($+7*7%R! )+-! T&<<d*'-&'&-! -*8)$+%! '&%7<(! $+! &==$;$&+(! &Y;$(*+!
-$%%*;$)($*+! -7&! (*! $+;'&)%&-! $+(&'=);$)<! )'&)JiRfkRfi4! ! "--$($*+)<</R! %7;9! -*8)$+%!
@'*-7;&!7+*.%('7;(&-!@)(9T)/%!=*'!(9&!;9)'B&%!(*!(')?&<!(9'*7B9*7(!(9&!=$<84!!E9$%!
B'&)(</!$8@'*?&%!(9&!&==$;$&+;/!)(!T9$;9!;9)'B&%!8$B')(&!(*T)'-%!)+-!)'&!;*<<&;(&-!
./!(9&!&<&;('*-&%MK4!
! #&%@$(&! )<<! *=! (9&! .&+&=$(%! *=! .<*;Q! ;*@*</8&'%R! C,`%! .)%&-! *+! %7;9! );($?&!
<)/&'%! 9)?&! %9*T+! -$%)@@*$+($+B! &==$;$&+;$&%4! ! >+=*'(7+)(&</R! .<*;Q! ;*@*</8&'%!
%7==&'! ='*8! *+&! 8)W*'! -$%)-?)+()B&! <$8$($+B! (9&$'! %7;;&%%4! ! D*$<d;*$<! .<*;Q!
;*@*</8&'%R! T9$;9! ;*+%$%(! *=! ;9)'B&! (')+%@*'($+B! =7+;($*+)<! B'*7@%! )(();9&-!
(9'*7B9!)+!$+%7<)($+B!.);Q.*+&R!-*!+*(!*==&'!(9&!&Y(&+-&-!;*+W7B)($*+!)+-!(97%!(9&!
<*T! .)+-B)@! (9)(! ;*+W7B)(&-! @*</8&'%! -*4! ! E9&'&=*'&R! .<*;Q! ;*@*</8&'%! )'&!
!
! ig!
(/@$;)<</! +*(! B**-! <$B9(! 9)'?&%(&'%4! ! H8@'*?$+B! (9&! <$B9(! 9)'?&%($+B! @'*@&'($&%! *=!
.<*;Q!;*@*</8&'%!8)/!'&%7<(!$+!9$B9!&==$;$&+;/!C,`%4!!6*8&!&==*'(%!9)?&!=*;7%&-!*+!
(9&! -&%$B+! *=! '*-d;*$<! .<*;Q! ;*@*</8&'%R! $+! T9$;9! (9&! '*-! @*'($*+! ;*+%$%(%! *=! )!
;*+W7B)(&-!@*</8&'!T$(9!&==$;$&+(!<$B9(!9)'?&%($+BMLdMf4! !"<(9*7B9!%7;9!@*</8&'%!-*!
*==&'! $8@'*?&-!).%*'.)+;&R!;9)+B$+B!(9&!'$B$-$(/!*=!(9&!.<*;Q!@&'(7'.%!(9&!%/%(&8R!
8)Q$+B! (9&! 8*'@9*<*B/! 7+@'&-$;().<&MJRMMdMh4! ! H+%()<<$+B! <*T! .)+-B)@! 8*$&($&%R!
T9$<&!8)$+()$+$+B!(')-$($*+)<!;*$<d;*$<!.<*;Q!;*@*</8&'!)';9$(&;(7'&R!;*7<-!'&%7<(!$+!
)! %/%(&8! T$(9! $8@'*?&-! <$B9(! 9)'?&%($+B! )+-! &==$;$&+(! ;9)'B&! %&@)')($*+! )+-!
8*.$<$(/4!
O:D'.FCK?=C'@GL'!ACBKCCA<G'
O:D:9'2<?FBK?@E'!FCAHG'
! S<*;Q! ;*@*</8&'%! )'&! &Y;&<<&+(! ;)+-$-)(&%! =*'! C,`%! .&;)7%&! *=! (9&$'!
@'&-$;().<&! ;*+('*<! *?&'! =$<8! 8*'@9*<*B/fKRMkdeKR! T9$;9! <&)-%! (*! B**-! ;9)'B&!
%&@)')($*+! )+-! 8*.$<$(/4! ! E*! -)(&R! (9&! &==$;$&+;$&%! *=! .<*;Q! ;*@*</8&'! C,`%! )'&!
-$%)@@*$+($+BR! 8*%(! <$Q&</! -7&! (*! @**'! <$B9(! 9)'?&%($+B! )%! )! '&%7<(! *=! <$8$(&-!
;*+W7B)($*+4!!H+%()<<$+B!)!%&+%$($Z&'!.&(T&&+!(9&!(T*!.<*;Q%!*=!(9&!;*@*</8&'!%9*7<-!
$8@'*?&!(9&!).%*'.)+;&!*=!(9&!%/%(&84!!H+!*'-&'!(*!8$+$8$Z&!(9&!@&'(7'.)($*+!*=!(9&!
%/%(&8R!)!%8)<<!8*<&;7<&R!')(9&'!(9)+!)!;*+W7B)(&-!.<*;QR!%9*7<-!.&!7%&-!(*!8)$+()$+!
(9&! @'&-$;().<&! 8*'@9*<*B/4! ! 68)<<! 8*<&;7<&! #d"! %/%(&8%! %9*T! %$B+$=$;)+(!
'&-7;($*+! *=! .)+-B)@! T$(9*7(! (9&! +&&-! (*! &Y(&+-&-! ;*+W7B)($*+4! ! E9&'&=*'&R! #d"!
%/%(&8%!T$<<!.&!7($<$Z&-!=*'!(9&!@7'@*%&!*=!%&+%$($Z$+B!(9&!.<*;Q!;*@*</8&'%4!
!
! ih!
! H+!)--$($*+!(*!<*T!.)+-B)@R!(9&!%&+%$($Z&'!87%(!)<%*!9)?&!&+&'B/!<&?&<%!(9)(!
)<$B+!)@@'*@'$)(&</!T$(9!(9&!-*+*'!)+-!);;&@(*'!@*</8&'%!(*!)<<*T!=*'!=);$<&!;9)'B&!
(')+%=&'4! !H+!*'-&'!(*!8)$+()$+!)@@'*@'$)(&!&+&'B/!<&?&<!)<$B+8&+(R!(9&!%)8&!-*+*'!
)+-! );;&@(*'! 8*$&($&%! 7($<$Z&-! =*'! (9&! %&+%$($Z&'! T$<<! .&! 7%&-! )%! (9&! =7+;($*+)<!
B'*7@%!*=! (9&!@*</8&'%4! !_9&+!)!-*+*'! $%!;*+W7B)(&-!(*!)+!);;&@(*'R! (9&!'&%7<($+B!
8*<&;7<&!T$<<!9)?&!)!%().$<$Z&-!GC3C!&+&'B/!<&?&<4!!E9&'&=*'&R!(9&!GC3C!*=!(9&!#d"!
8*<&;7<&! %9*7<-!+&;&%%)'$</! .&!.&<*T! (9)(! *=! (9&!-*+*'! $(%&<=4! ! 5$Q&T$%&R!T9&+! )+!
);;&@(*'! $%! ;*+W7B)(&-! (*! )! -*+*'R! (9&! '&%7<($+B!8*<&;7<&!T$<<! .&!8*'&!-$==$;7<(! (*!
'&-7;&4! ! E9&'&=*'&! (9&! 5>3C! *=! (9&! #d"! 8*<&;7<&! %9*7<-! .&! ).*?&! (9)(! *=! (9&!
);;&@(*'! $(%&<=4! ! "! %;9&8)($;! '&@'&%&+()($*+! *=! %7;9! )! .<*;Q! ;*@*</8&'R! T$(9!
)@@'*@'$)(&!&+&'B/!)<$B+8&+(R!;)+!.&!%&&+!$+!F$B7'&!M4L4! !"@@'*@'$)(&!&+&'B/!<&?&<!
)<$B+8&+(! $%!);9$&?&-!T9&+!&$(9&'!(9&!GC3C!*=! (9&!-*+*'! $%!)(! <&)%(!K4f!&`!).*?&!
(9)(!*=!(9&!#d"!8*<&;7<&R!*'!(9&!5>3C!*=!(9&!#d"!8*<&;7<&!$%!)(! <&)%(!K4f!&`!).*?&!
(9)(!*=!(9&!);;&@(*'R!*'!.*(94!
!
!!
F$B7'&!M4LO!6;9&8)($;!'&@'&%&+()($*+!*=!)!-*+*'d);;&@(*'!.<*;Q!;*@*</8&'!<$+Q&-!(9'*7B9! )! #d"! %&+%$($Z&'! =*'! $8@'*?&-! <$B9(! 9)'?&%($+B4! ! E9&! %/%(&8! '&A7$'&%!%@&;$=$;!&+&'B/!<&?&<!)<$B+8&+(!(*!);9$&?&!&==$;$&+(!&Y;$(*+!-$%%*;$)($*+4!
!
! ik!
! H+!*'-&'!(*!-&(&'8$+&!(9&!-&%$B+!;'$(&'$)!=*'!%7;9!)!#d"!%/%(&8R!)!=&T!-*+*'%R!
[-$(9$&+*@/''*<&![#E,]R!fRMd&(9/<&+&-$*Y/<(9$*@9&+&![2#CE]R!)+-!;)'.)Z*<&![DS^]]R!
)+-! );;&@(*'%! [@&'/<&+&-$$8$-&! [,#H]R! +)@9(9)<&+&-$$8$-&! [0#H]R! )+-!
+)@9(9)<$;$8$-&! [0H]]! T&'&! ;9*%&+4! ! "--$($*+)<</R! .*(9! -$'&;(</d<$+Q&-! )+-!
);&(/<&+&d<$+Q&-! 8*<&;7<&%! T&'&! $+?&%($B)(&-4! ! "! %&'$&%! *=! #d"! %/%(&8%! T&'&!
-&%$B+&-!)+-!(9&!%('7;(7'&%!)'&!%9*T+!$+!F$B7'&!M4J4!! !
!
! E9&! %/+(9&%$%! *=! JRid.$%[Jd&(9/<9&Y/<]ded[Md9&Y/<dMGd-$(9$&+*lfRJd.OJmRfmd
-n@/''*<dJd/<])+(9')lJRLRid-&=OgReRLKd-m&m=mn-$$%*A7$+*<$+&dLRfRkRLK[JGRiG]d(&(')*+&!
[#E,d,#H]R!%&&+!$+!6;9&8&!M4LR!%()'(&-!T$(9!(9&!%/+(9&%$%!*=!(9&!#E,!-*+*'!)+-!(9&!
,#H! );;&@(*'4! ! E*! %/+(9&%$Z&! (9&!#E,R! JRJmd.$(9$*@9&+&!T)%! .'*8$+)(&-! 7%$+B! S'J!
)+-! );&($;! );$-R! =*<<*T&-! ./! %&<&;($?&! -&.'*8$+)($*+! 7%$+B! Z$+;! )+-! 9/-'*;9<*'$;!
);$-4! ! "! @)<<)-$78! ;)()</Z&-! '$+Bd;<*%$+B! S7;9T)<-! ;*7@<$+B! T$(9! 9&Y/<)8$+&!
'&%7<(&-! $+! #E,4! ! 1&);($*+! *=! #E,! T$(9! .7(/<<$(9$78! =*<<*T&-! ./! Jd
!!
F$B7'&! M4JO!3*<&;7<)'! -&%$B+%! *=! %8)<<!8*<&;7<&! #d"! %/%(&8%! )%! %&+%$($Z&'%! =*'!.<*;Q!;*@*</8&'%4!
!
! ii!
[('$.7(/<%()++/<](9$*@9&+&R!'&%7<(&-!$+!Md9&Y/<dJd[('$.7(/<%()++/<]dMGd-$(9$&+*lfRJd
.OJmRfmd-n@/''*<&eL4! ! E9&! %/+(9&%$%! *=! ed.'*8*dJRid.$%[Jd&(9/<9&Y/<])+(9')lJRLRid
-&=OgReRLKd-m&m=mn-$$%*A7$+*<$+&dLRfRkRLK[JGRiG]d(&(')*+&!.&B)+!T$(9!(9&!'&);($*+!*=!
@&'/<&+&-$)+9/-'$-&! T$(9! &(9/<9&Y/<)8$+&R! =*<<*T&-! ./! 8*+*.'*8$+)($*+! T$(9!
S'JeJ4!!E9&!=$+)<!@'*-7;(R!#E,d,#HR!T)%!%/+(9&%$Z&-!./!)!6($<<&!;*7@<$+B!.&(T&&+!(9&!
%()+/<#E,!)+-!8*+*.'*8*,#H4!!!
! E9&! %/+(9&%$%! *=! Jd.7(/<dgd[iGd;)'.)Z*<did/<]dLGd.&+Z*l-&n$%*A7$+*<$+&d
LRf[JG]d-$*+&![DS^d0H]R!%9*T+!$+!6;9&8&!M4JR!%()'(&-!T$(9!(9&!'&);($*+!*=!Md.'*8*d
LRkd+)@9(9)<$;!)+9/-'$-&!T$(9!.7(/<)8$+&R! '&%7<($+B! $+!0Hef4! !"!S7;9T)<-!;*7@<$+B!
T$(9!DS^!'&%7<(&-!$+!(9&!-&%$'&-!@'*-7;(R!DS^d0H4!!
!
!!
6;9&8&!M4LO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!#E,d,#H4!
!!
6;9&8&!M4JO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!DS^d0H4!
!
! LKK!
! E9&! %/+(9&%$%! *=! Jd.7(/<dgd[JRfd-$9/-'*(9$&+*lfRMd.nlLRMn-$*Y$+ded/<]dLGd
.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&! [2#CEd0H]R! 6;9&8&! M4fR! .&B)+! ./! '&);($+B!
2#CE! T$(9! .7(/<<$(9$78! =*<<*T&-! ./! Jd[('$.7(/<%()++/<](9$*@9&+&R! (*! B$?&!
%()++/<2#CE4! ! 6($<<&! ;*7@<$+B! T$(9! 0H! [-&%;'$.&-! ).*?&]! '&%7<(&-! $+! 2#CEd0H4!
!
! E9&! %/+(9&%$%! *=! Jd.7(/<dgd[Md[Md9&Y/<@9&+/<]dMGd-$(9$&+*lfRJd.OJmRfmd
-n@/''*<dJd/<]dLGd.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&! [#E,d0H]R! 6;9&8&! M4MR!
.&B)+! T$(9! (9&! %/+(9&%$%! *=! #E,! %$8$<)'! (*! (9)(! -&%;'$.&-! ).*?&4!!
#$.'*8*.$(9$*@9&+&! T)%! %7.W&;(&-! (*! S7;9T)<-! ;*7@<$+B! T$(9! 9&Y/<)+$<$+&!
=*<<*T&-!./!.7(/<<$(9$78!)+-!Jd$%*@'*@*Y/dMRMReRed(&(')8&(9/<dLRfRJd-$*Y).*'*<)+&!
(*! /$&<-! .*'*+)(&! &%(&'! #E,4! ! 0H! T)%! %/+(9&%$Z&-! )%! -&%;'$.&-! ).*?&4! ! F$+)<</R! )!
67Z7Q$!;*7@<$+B!.&(T&&+!0H!)+-!.*'*+)(&!&%(&'!#E,!'&%7<(&-!$+!(9&!-&%$'&-!@'*-7;(R!
#E,d0H4!
!
!!
6;9&8&!M4fO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!2#CEd0H4!
!!
6;9&8&!M4MO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!#E,d0H4!
!
! LKL!
! E9&! %/+(9&%$%! *=! Jd.7(/<dgd[[id9&Y/<diGd;)'.)Z*<dfd/<]&(9/+/<]dLGd
.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&! [DS^d)d0H]R! 6;9&8&! M4eR! .&B)+! T$(9! (9&!
%/+(9&%$%! *=! );&(/<&+&! =7+;($*+)<$Z&-! ;)'.)Z*<&4! ! D)'.)Z*<&! T)%! 8*+*.'*8$+)(&-!
7%$+B! 0S6! )+-! )<Q/<)(&-! T$(9! 9&Y/<)8$+&4! ! 6*+*B)%9$')! ;*7@<$+B! T$(9! E36d
);&(/<&+&! )+-! %7.%&A7&+(! -&@'*(&;($*+! T$(9! VJDCfR! '&%7<(&-! $+! DS^d)&(/<&+&eM4!!
6*+*B)%9$')!;*7@<$+B!T$(9!0HR!-&%;'$.&-!).*?&R!'&%7<(&-!$+!(9&!-&%$'&-!@'*-7;(!DS^d
)d0H4!
!
! E9&! %/+(9&%$%! *=! JRhd.$%[Jd&(9/<9&Y/<]dMRid.$%[[id9&Y/<diGd;)'.)Z*<dfd
/<]&(9/+/<].&+Z*l<8+nlfRkn@9&+)+(9'*<$+&dLRfRgRk[JGRhG]d(&(')*+&! [DS^d)d0#Hd)d
DS^]R!6;9&8&!M4gR!.&B)+!T$(9!(9&!%/+(9&%$%!*=!-$.'*8*0#H4!!0)@9(9)<$;-$)+9/-'$-&!
T)%!.'*8$+)(&-!T$(9!-$.'*8*$%*;/)+7'$;!);$-!7+-&'!);$-$;!;*+-$($*+%R!=*<<*T&-!./!
'&);($*+!T$(9! &(9/<9&Y/<)8$+&! (*! /$&<-! -$.'*8*0#Hee4! ! 6*+*B)%9$')! ;*7@<$+B!T$(9!
DS^!);&(/<&+&!'&%7<(&-!$+!DS^d)d0#Hd)dDS^4!
!!
6;9&8&!M4eO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!DS^d)d0H4!
!
! LKJ!
!
!
O:D:D'(]C<E]@GBF'1E<YFE=AFC'
! E9&! ).%*'.)+;&! @'*@&'($&%! *=! (9&%&! #d"! %/%(&8%! $+! ;*8@)'$%*+! (*! (9&$'!
$+-$?$-7)<!8*$&($&%!T&'&! $+?&%($B)(&-!)+-!(9&!'&%7<(%!)'&!'&@*'(&-! $+!E).<&!M4L4! ! H(!
;)+!.&! %&&+! (9)(! $+!8*%(! ;)%&%R! (9&! ).%*'.)+;&!*=! (9&!#d"!8*<&;7<&! $%! '&-! %9$=(&-!
T9&+!;*8@)'&-! (*! (9&!@)'&+(!-*+*'!)+-!);;&@(*'!8*<&;7<&%4! ! H+! (9&! ;)%&!*=!#E,d
,#HR! (9&! ).%*'.)+;&! $%! +&)'</! (9&! %)8&! )%! $+! ,#H! $(%&<=4! ! 6$8$<)'</R! (9&! *@($;)<!
.)+-B)@!*=!)<<!(9&!#d"!8*<&;7<&%!)'&!%8)<<&'!(9)+!(9&!@)'&+(!;*8@*7+-%4!!"B)$+R!(9&!
.)+-B)@!*=!#E,d,#H! $%! %$8$<)'! (*! (9)(! *=!,#H! $(%&<=4! ! E9$%! $%!8*%(! <$Q&</!-7&! (*! (9&!
%(&'$;%!*=! (9&!8*<&;7<&!'&%7<($+B! $+!)!.'&)Q! $+! (9&!;*+W7B)($*+4! ! H(!;)+!)<%*!.&!%&&+!
(9)(!)<<!*=!(9&!#d"!%/%(&8%!%9*T!%$B+$=$;)+(!).%*'.)+;&!T$(9!&Y($+;($*+!;*&==$;$&+(%!
')+B$+B!='*8!e4ih!�!LKf!3dL!;8dL!p!L4MK!�!LKM!3dL!;8dL4!!!
!!
6;9&8&!M4gO!6;9&8&!=*'!(9&!%/+(9&%$%!*=!DS^d)d0#Hd)dDS^4!
!
! LKf!
!
O:D:M'"?FB=E<B;FNAB@?'1E<YFE=AFC'
! "%!8&+($*+&-!@'&?$*7%</R!$+!)--$($*+!(*!<*T!.)+-B)@R!(9&!#d"!%/%(&8%!87%(!
)<%*!9)?&!T&<<!)<$B+&-!GC3C!)+-!5>3C!&+&'B/!<&?&<%!T$(9!(9&!@)'&+(!-*+*'%!)+-!
);;&@(*'%4! ! H+! *'-&'! (*! -&(&'8$+&! (9&! ?)<7&%! *=! (9&! GC3C! )+-! (9&! 5>3CR! ;/;<$;!
?*<()88&('/!*=!(9&!#d"!8*<&;7<&%!T&'&!()Q&+4!!"<<!*=!(9&!#d"!8*<&;7<&%!&Y9$.$(!.*(9!
*Y$-)($*+!)+-!'&-7;($*+!)<<*T$+B!=*'!(9&!-$'&;(!-&(&'8$+)($*+!*=!GC3CR!5>3CR!)+-!
&<&;('*;9&8$;)<! .)+-B)@! [2B&<&;]4! ! E9&! -*+*'! 8*<&;7<&%! &Y9$.$(! *+</! *Y$-)($*+R!
)<<*T$+B!=*'!(9&!-$'&;(!;)<;7<)($*+!*=!GC3C4!!E9&!5>3C!$%!-&(&'8$+&-!./!7%$+B!(9&!
*@($;)<! .)+-B)@4! ! "<(&'+)($?&</R! (9&! );;&@(*'! 8*<&;7<&%! &Y9$.$(! *+</! '&-7;($*+R!
)<<*T$+B! =*'! (9&! -$'&;(! -&(&'8$+)($*+! *=! (9&! 5>3C! &+&'B/! <&?&<! *+</4! ! F*'! (9&!
);;&@(*'!8*<&;7<&%R!(9&!GC3C!$%!&%($8)(&-!='*8!(9&!*@($;)<!.)+-B)@4!
!!
E).<&! M4LO! 6788)'/!*=! (9&!).%*'.)+;&! @'*@&'($&%!*=! (9&!#d"!%/%(&8%!)+-! (9&$'!@)'&+(!-*+*'!)+-!);;&@(*'!8*$&($&%4!!
!
! LKM!
! E9&!&+&'B/!<&?&<%!=*'!(9&!#E,d,#H!%/%(&8!;)+!.&!%&&+!$+!F$B7'&!M4f4!!H(!;)+!.&!
%&&+! (9)(! (9&!.)+-B)@!*=!#E,d,#H! $%! %$B+$=$;)+(</! <*T&'! (9)+! (9)(!*=!#E,!)+-!,#HR!
)+-! (9)(! (9&!GC3C!*=!#E,! $%!T&<<!).*?&! (9)(!*=!#E,d,#H4! !E9&!5>3C!*=!#E,d,#HR!
9*T&?&'R!$%!+*(!)<$B+&-!)@@'*@'$)(&</R!)%!$(!<$&%!.&<*T!(9)(!*=!,#H4!!E9$%!T$<<!+*(!)<<*T
!
=*'!&<&;('*+!(')+%=&'!='*8!(9&!5>3C!*=!(9&!&Y;$(&-!%()(&!*=!#E,d,#H!(*!(9&!5>3C!*=!
,#H4! ! ,#H! $%! )! <)'B&!8*<&;7<&! )+-! (9&'&=*'&! $%!8*%(! <$Q&</! (T$%(&-!T$(9! '&%@&;(! (*!
#E,4! ! E9$%! <&)-%! (*! .'&)Q! $+! ;*+W7B)($*+! .&(T&&+! (9&! (T*! 8*$&($&%R! @'&?&+($+B!
;*887+$;)($*+!.&(T&&+!(9&!-*+*'!)+-!(9&!);;&@(*'4!!!
! E9&!&+&'B/!<&?&<%!*=!(9&!DS^d0H!%/%(&8!;)+!.&!%&&+!$+!F$B7'&!M4M4!!6$8$<)'!(*!
(9&!#E,d,#H!%/%(&8R!(9&!.)+-B)@!*=!DS^d0H!$%!<*T&'!(9)+!(9)(!*=!DS^!)+-!0HR!)+-!(9&!
GC3C!*=!DS^!$%!@'*@&'</!)<$B+&-!T$(9!(9&!GC3C!*=!DS^d0H4! !E9&!DS^d0H!%/%(&8!$%!
)<%*!8*%(!<$Q&</!(T$%(&-R!)+-!$(!;)+!.&!%&&+!(9)(!(9&!5>3C!*=!DS^d0H!<$&%!.&<*T!(9)(!
*=!0H4!!E9&%&!'&%7<(%!%7BB&%(!(9)(R!$+!*'-&'!=*'!)@@'*@'$)(&!)<$B+8&+(R!(9&!#d"!%/%(&8!
%9*7<-!.&!)!%8)<<!8*<&;7<&!(9)(!$%!+*(!%(&'$;)<</!9$+-&'&-4!!
!!
F$B7'&! M4fO! 2+&'B/! <&?&<%! *=! #E,R! #E,d,#HR! )+-! ,#H4! ! #E,d,#H! 9)%! )! <*T&'!.)+-B)@! (9)+! &$(9&'! *=! (9&! @)'&+(! 8*<&;7<&%4! ! E9&! GC3C! &+&'B/! <&?&<%! )<$B+!)@@'*@'$)(&</!.7(!(9&!5>3C!*=!#E,d,#H!$%!<*T&'!(9)+!,#H4!
!
! LKe!
!
! E9&!&+&'B/!<&?&<%!=*'!(9&!2#CEd0H!%/%(&8!;)+!.&!%&&+!$+!F$B7'&!M4e4!!H(!;)+!.&!
%&&+! (9)(! (9&!.)+-B)@!*=!2#CEd0H! $%! %$B+$=$;)+(</! <)'B&'! (9)+! (9)(!*=!,2#CE4! ! H(! $%
!
(9&'&=*'&!+&;&%%)'/!(9)(!(9&!@*</8&'%!7%&-!%9*7<-!.&!@&+-&+(!@*</8&'%!')(9&'!(9)+!
;*+W7B)(&-!@*</8&'%4!!E9&!<$+Q)B&!*=!(9&!8*<&;7<&!$%!.&(T&&+!)!=$?&!8&8.&'&-!)+-!
)!%$Y!8&8.&'&-!'$+B4! !E9$%!-&8*+%(')(&%!8$+$8)<! (T$%($+B!)+-! (9&'&=*'&!.*(9! (9&!
GC3C!)+-!(9&!5>3C!&+&'B/!<&?&<%!)'&!)<$B+&-!;*''&;(</4! !E9&!&+&'B/!<&?&<%!*=!(9&!
#E,d0H!%/%(&8!;)+!.&!%&&+!$+!F$B7'&!M4g4!!6$8$<)'!(*!(9&!2#CEd0H!%/%(&8R!(9&!GC3C!
)+-!5>3C!&+&'B/!<&?&<%!)'&!)<$B+&-!)@@'*@'$)(&</!-&%@$(&!(9&!=);(!(9)(!(9&!.)+-B)@!
!!
F$B7'&! M4MO! 2+&'B/! <&?&<%!*=! DS^R! DS^d0HR! )+-!0H4! !DS^d0H! 9)%!)! <*T&'!.)+-B)@!(9)+!&$(9&'!*=!(9&!@)'&+(!8*<&;7<&%4!!E9&!GC3C!&+&'B/!<&?&<%!)<$B+!)@@'*@'$)(&</!.7(!(9&!5>3C!*=!DS^d0H!$%!<*T&'!(9)+!0H4!!
!!
F$B7'&!M4eO!2+&'B/!<&?&<%!*=!2#CER!2#CEd0HR!)+-!0H4!!2#CE!9)%!)!<*T&'!.)+-B)@!(9)+!2#CEd0H4!!E9&!&+&'B/!<&?&<%!)<$B+!)@@'*@'$)(&</4!!
!
! LKg!
*=!#E,d0H! $%!%$8$<)'! (*! (9)(!*=!#E,4! !3$+$8$Z$+B! (9&!%(&'$;! (T$%($+B! $+!#d"!%/%(&8%!
%&&8%! (*! =)?*'! )@@'*@'$)(&! &+&'B/! <&?&<%4! ! G*T&?&'R! (9&%&! %('$;(! '&A7$'&8&+(%!
&Y;<7-&!8)+/!*=!(9&!)?)$<).<&!-*+*'%!)+-!);;&@(*'%4!
! 3$+$8$Z$+B! %(&'$;%! ;)+! )<%*! .&! );9$&?&-! (9'*7B9! (9&! 7($<$Z)($*+! *=! <$+Q&'%R!
%7;9! )%! );&(/<&+&4! ! #7&! (*! (9&! +)(7'&! *=! (9&! );&(/<&+&! <$+Q&'R! ;*+W7B)($*+! $%!
8)$+()$+&-!T9$<&! =*';$+B!@<)+)'$(/!.&(T&&+! (9&!-*+*'!)+-!);;&@(*'R! '&B)'-<&%%!*=!
(9&!%$Z&!*=! (9&!8*<&;7<&4! !E9&!&+&'B/! <&?&<%! =*'! (9&!DS^d)d0H!)+-!DS^d)d0#Hd)dDS^!
%/%(&8%!;)+!.&!%&&+!$+!F$B7'&!M4h!)+-!F$B7'&!M4kR!'&%@&;($?&</4!!H+!.*(9!;)%&%R!$(!;)+
!
!!
F$B7'&!M4gO!2+&'B/! <&?&<%!*=!#E,R!#E,d0HR! )+-!0H4! !#E,d0H!9)%!.)+-B)@!%$8$<)'! (*!#E,4!!E9&!GC3C!<&?&<%!)<$B+!)@@'*@'$)(&</4!!
!!
F$B7'&!M4hO!2+&'B/!<&?&<%!*=!DS^R!DS^d)d0HR!)+-!0H4!!DS^d)d0H!9)%!)!<*T&'!.)+-B)@!(9)+!&$(9&'!*=!(9&!@)'&+(!8*<&;7<&%4!!E9&!GC3C!&+&'B/!<&?&<%!)<$B+!)@@'*@'$)(&</!.7(!(9&!5>3C!*=!DS^d)d,0H!$%!<*T&'!(9)+!0H4!!
!
! LKh!
.&! %&&+! (9)(! (9&! #d"! %/%(&8%! 9)?&! <*T&'! .)+-B)@%! (9)+! (9&$'! @)'&+(! -*+*'! )+-!
);;&@(*'!8*$&($&%4!!S*(9!%/%(&8%!)<%*!%9*T!$8@'*@&'!)<$B+8&+(!*=!.*(9!GC3C!)+-!
5>3C!&+&'B/!<&?&<%4!!1&;&+(</R!$(!9)%!.&&+!'&@*'(&-!(9)(!T9&+!);&(/<&+&!<$+Q&'%!)'&!
7($<$Z&-!$+!#d"!%/%(&8%R!(9&!;*887+$;)($*+!.&(T&&+!(9&!-*+*'!)+-!(9&!);;&@(*'!$%!
$+(&''7@(&-!.&;)7%&! (9&!);&(/<&+&! $(%&<=! );(%!)%!)+!);;&@(*'egReh4! !E9$%!-$%'7@(%! (9&!
@7%9!@7<<!+)(7'&!*=!.*(9!(9&!DS^d)d0H!)+-!DS^d)d0#Hd)dDS^!%/%(&8%4!!
!
O:D:O'!FCAHG'.K?FC'
! #&?&<*@$+B! (9&! %&+%$($Z&'!7+$(! =*'! )!.<*;Q! ;*@*</8&'!9)%!.&&+!)! %$B+$=$;)+(!
;9)<<&+B&!$+!'&)<$Z$+B!%7;9!)!%/%(&84! !"<<!*=!(9&!=*<<*T$+B!;'$(&'$)!87%(!.&!8&(! $+!)!
%7;;&%%=7<!%/%(&8O!$]!(9&!.)+-B)@!*=!(9&!%&+%$($Z&'!87%(!.&!%8)<<&'!(9)+!(9)(!*=!(9&!
-*+*'!)+-!);;&@(*'!@*</8&'%u!$$]!(9&!&+&'B/!<&?&<%!87%(!)<$B+!)@@'*@'$)(&</!(*!)<<*T!
=*'! &==$;$&+(! ;9)'B&! (')+%=&'u! $$$]! (9&! @*</8&'%! $+! (9&! %/%(&8! %9*7<-! +*(! .&!
;*+W7B)(&-R! .7(! ')(9&'! =<&Y$.<&! @*</8&'%!T$(9! @&+-&+(! B'*7@%! (9)(! %9*T! &==$;$&+(!
;9)'B&!(')+%=&'u!$?]!(9&!%&+%$($Z&'!%9*7<-!.&!)!%8)<<!8*<&;7<&!(*!@'&?&+(!%$B+$=$;)+(!
!!
F$B7'&! M4kO! 2+&'B/! <&?&<%! *=! DS^R! DS^d)d0#Hd)dDS^R! )+-!0#H4! ! DS^d)d0#Hd)dDS^!9)%! )! <*T&'! .)+-B)@! (9)+! &$(9&'! *=! (9&! @)'&+(! 8*<&;7<&%4! ! E9&! GC3C! &+&'B/!<&?&<%!)<$B+!)@@'*@'$)(&</!.7(!(9&!5>3C!*=!DS^d)d0#Hd)dDS^!$%!<*T&'!(9)+!0#H4!!
!
! LKk!
@&'(7'.)($*+! *=! (9&! %/%(&8u! ?]! (9&! %(&'$;%! *=! (9&! %/%(&8! %9*7<-! .&! 8$+$8$Z&-! (*!
@'&?&+(!(T$%(%!)+-!.&+-%!T9$;9!.'&)Q!;*+W7B)($*+u!?$]!);&(/<&+&!<$+Q&'%!%9*7<-!+*(!
.&!7($<$Z&-!)%!(9&/!(&+-!(*!);(!)%!);;&@(*'%4!!E9$%!$%!)!%$B+$=$;)+(!<$%(!*=!'&A7$'&8&+(%R!
T9$;9!T$<<!.&!9)'-!(*!%)($%=/!T$(9!%7;9!)!%/%(&84!!!
O:M'#KNN@EP''
! H+%()<<$+B! )! %&+%$($Z&'! $+(*! )! .<*;Q! ;*@*</8&'! ;)+! B'&)(</! $+;'&)%&! (9&! <$B9(!
9)'?&%($+B!*=!(9&!%/%(&84!!E9$%!$8@'*?&-!<$B9(!9)'?&%($+BR!$+!)--$($*+!(*!(9&!.&+&=$(%!
*=! .<*;Q! ;*@*</8&'%R! $4&4! &==$;$&+(! &Y;$(*+! -$==7%$*+R! ;9)'B&! 8*.$<$(/R! )+-! -&%$'&-!
8*'@9*<*B/R!'&%7<(%!$+!)!%/%(&8!(9)(!%)($%=$&%!)<<!(9&!'&A7$'&8&+(%!=*'!&==$;$&+(!C,`%4!!
#d"!%/%(&8%!T&'&!$+?&%($B)(&-!)%!@*%%$.<&!%&+%$($Z&'%!=*'!(9&%&!%/%(&8%4!!E9&!-*+*'!
);;&@(*'! %/%(&8%! %9*T! -&%$').<&! '&-! %9$=(&-! ).%*'.)+;&! .7(! *=(&+! &Y9$.$(!
$+)@@'*@'$)(&! &+&'B/! <&?&<! )<$B+8&+(4! ! E9&! %/%(&8%! %(7-$&-! $+! (9$%! ;9)@(&'! 9)?&!
'&%7<(&-!$+!)+!7+-&'%()+-$+B!*=!(9&!-&%$B+!'7<&%!=*'!%7;9!)!%/%(&84! !E9$%!&Y(&+%$?&!
<$%(!*=!'&A7$'&8&+(%!<$8$(%!(9&!'&)<$Z)($*+!*=!%7;9!)!%/%(&84!!
O:O'"IYFEANFG=@?'
! 6&?&')<! *=! (9&! $+(&'8&-$)(&! ()'B&(%! =*'! (9&! %/+(9&%$%! *=! (9&! -*+*'d);;&@(*'!
%/%(&8%!T&'&!@7.<$%9&-! );;*'-$+B! (*!@'&?$*7%</!@7.<$%9&-!@'*;&-7'&%O! Md9&Y/<dJd
[('$.7(/<%()++/<]dMGd-$(9$&+*lfRJd.OJmRfmd-n@/''*<&eLu! ed.'*8*dJRid.$%[Jd
&(9/<9&Y/<])+(9')lJRLRid-&=OgReRLKd-m&m=mn-$$%*A7$+*<$+&dLRfRkRLK[JGRiG]d(&(')*+&eJu!
gd.'*8*dJd.7(/<dLGd.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&efu! fd&(9/+/<did9&Y/<diGd
;)'.)Z*<&eMu! MRid-$.'*8*dJRhd.$%[Jd&(9/<9&Y/<].&+Z*l<8+nlfRkn@9&+)+(9'*<$+&d
LRfRgRk[JGRhG]d(&(')*+&ee4!
!
! LKi!
O:O:9'#PG=;FCAC'<J'DZV/]AC[D/F=;P?;FIP?\/Q/[O/;FIP?/O+/LA=;AFG<aMZD/]bDcZMc/
LdYPEE<?/D/P?\@G=;E@aDZ9ZV/LFJbRZQZ9U/LcFcJcdLAAC<_KAG<?AGF/
9ZMZWZ9U[D+ZV+\/=F=E@<GF'[!*1/1!$\'
!
! ed.'*8*dJRid.$%[Jd&(9/<9&Y/<])+(9')lJRLRid-&=OgReRLKd-m&m=mn-$$%*A7$+*<$+&d
LRfRkRLK[JGRiG]d(&(')*+&! [JgK! 8BR! K4fh! 88*<]R! Md9&Y/<dJd[('$.7(/<%()++/<]dMGd
-$(9$&+*lfRJd.OJmRfmd-n@/''*<&![JMf!8BR!K4MM!88*<]R!)+-!,-[,,9f]JD<J! [f!8BR!K4KKM!
88*<]!T&'&!-$%%*<?&-!$+!#3F!)+-!9&)(&-!(*!hK!�D!*?&'+$B9(4!!E9&!'&);($*+!8$Y(7'&!
T)%! T)%9&-! T$(9! T)(&'! )+-! &Y(');(&-! $+(*! &(9/<! );&()(&4! ! E9&! *'B)+$;! <)/&'! T)%!
-'$&-! *?&'! %*-$78! %7<=)(&! )+-! ;*+;&+(')(&-! 7+-&'! ?);7784! ! E9&! @'*-7;(! T)%!
@7'$=$&-!*+!D*8.$=<)%9![fft]4!!;R=SFSFBQ!LG!031![MKK3GZR!D#D<f]O!�!i4gk![-R!LGR!X!
�!k!GZR!)]R!k4hi![%R!LGR!.]R!k4ek![(R!eGR!X!�!k!GZR!;]R!k4MM![--R!fGR!-w&]R!M4LK![8R!gGR!=]R!
L4if! [8R! JGR! B]R! L4fJ! [8R! JMGR! 9]R! K4iM! [8R! LeGR! $]4! ! LfD!031! [LKK3GZR! D#D<f]O! �!
LgM4KR! Lgf4gR! Lgf4gR! LgJ4hR! Lfi4fR! Lfh4kR! Lfh4KR! Lfe4KR! LfM4KR! Lff4gR! LfL4JR! LfK4hR!
LJi4gR! LJk4kR! LJk4hR! LJk4JR! LJk4KR! LJh4iR! LJh4LR! LJe4KR! LJM4iR! LJM4JR! LJf4iR! LJf4hR!
LJf4eR! LJf4LR! LJJ4kR! LJL4LR! MM4gR! MM4eR! fk4LR! fk4LR! fK4iR! Jk4kR! JM4JR! Jf4fR! Jf4JR! LM4fR!
LK4kR!LK4k4!!8wZ!;)<;7<)(&-!=*'!DeMGeh0fCM6JO!khg4J!=*7+-!./!F"SO!khe4L4!
N
N
O
O
O
O
S
N
S
i
e
d
c
c
c
c
c
b
a
e
g
g
f
f
f
i
i
i
h
h
h
h
h
i
!
! LLK!
O:O:D'#PG=;FCAC'<J'D/]K=P?/R/[V+/B@E]@^<?/V/P?\/9+/]FG^<aLFdAC<_KAG<?AGF/
9ZM[D+\/LA<GF'[07`/&$\'
!
! ,-J[-.)]f! [g4h! 8BR! K4Kf! 88*<]R! ,[(S7]fGSFM! [Mf4e! 8BR! K4Le! 88*<]R! )+-!
0)C(S7![Mff!8BR!M4e!88*<]!T&'&!%7%@&+-&-!$+!-&B)%%&-!(*<7&+&!)+-!%($''&-!7+-&'!
)'B*+! (*!LK!8$+%4! ! gd.'*8*dJd.7(/<dLGd.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&! [eKK!
8BR! L4e!88*<]! T)%! )--&-! )+-! (9&! '&);($*+! T)%! 9&)(&-! (*! gK! �D! =*'! LK!8$+7(&%4!!
D)'.)Z*<&![fKK!8BR!L4k!88*<]!T)%!)--&-!)+-!(9&!'&);($*+!T)%!'&=<7Y&-!*?&'+$B9(4!!
E9&! (*<7&+&! T)%! '&8*?&-! 7+-&'! ?);778! )+-! (9&! @'*-7;(! T)%! @7'$=$&-! *+!
D*8.$=<)%9![ght]4! !;R=S5S'6!LG!031![MKK3GZR!D#D<f]O!�!k4kK![-R!LGR!X!�!k!GZR!)]R!
k4gh![--R!LGR!X!�!k!GZR!.]R!k4gL![--R!LGR!X!�!k!GZR!;]R!k4JL![--R!JGR!X!�!k!GZR!-]R!h4iL![-R!
LGR!X!�!k!GZR!&]R!h4hk![(R!LGR!X!�!k!GZR!=]R!h4gJ![(R!LGR!X!�!k!GZR!B]R!h4fg![8R!fGR!9]R!h4KJ!
[--R!JGR!X!�!k!GZR!$]R!M4Jg![(R!JGR!X!�!k!GZR!W]R!L4hk![8R!JGR!Q]R!L4Mi![8R!JGR!<]R!L4KJ![(R!fGR!
8]4! ! LfD! 031! [LKK3GZR! D#D<f]O! �! LgM4LR! Lgf4iR! Lgf4eR! LML4hR! LMK4JR! Lff4kR! LfL4iR!
LfL4gR! LfL4LR! LfK4LR! LJi4hR! LJi4KR! LJk4LR! LJh4gR! LJh4MR! LJg4iR! LJg4MR! LJf4kR! LJf4eR!
LJJ4kR!LJJ4hR!LJK4hR!LJK4gR!LLK4KR!MK4MR!MK4fR!fK4fR!fK4fR!JK4eR!Lf4i4!!8wZ!;)<;7<)(&-!=*'!
DJkGJJ0JCJO!MLk4J!=*7+-!./!F"SO!MLi4J4!
N
NO O
a b
c
d d
f
e
i
h
hh
i
g
jk
lm
!
! LLL!
O:O:M'#PG=;FCAC'<J'D/]K=P?/R/[DZM/LA;PLE<=;AFG<aMZO/]da9ZOdLA<IAG/Q/P?\/9+/
]FG^<aLFdAC<_KAG<?AGF/9ZM[D+\/LA<GF'["!,*/&$\'
!
! fRMd&(9/<&+&-$*Y/<(9$*@9&+&![K4LMi!85R!L4M!88*<]!T)%!-$%%*<?&-!$+!-'/!EGF!
)+-!;**<&-!$+!)!-'/!$;&d);&(*+&!.)(94! !+S75$![K4i!85!*=!L4g3!$+!9&Y)+&R!L4M!88*<]!
T)%!)--&-!%<*T</!)+-!)<<*T&-!(*!'&);(!=*'!*+&!9*7'4!!S7f6+D<![K4M!85R!L4eM!88*<]!
T)%!)--&-!)+-! (9&!'&);($*+!T)%!)<<*T&-! (*!;*8&! (*!'**8!(&8@&')(7'&!*?&'+$B9(4!!
,-[,,9f]JD<J![i4k!8BR!K4KLM!88*<]!)+-!gd.'*8*dJd.7(/<dLGd.&+Z*l-&n$%*A7$+*<$+&d
LRf[JG]d-$*+&! [eek! 8BR! L4gk! 88*<]! T&'&! )--&-! )+-! (9&! '&);($*+! T)%! '&=<7Y&-!
*?&'+$B9(4! ! E9&! '&);($*+!T)%!T)%9&-!T$(9!T)(&'! )+-! &Y(');(&-! $+(*! &(9/<! );&()(&4!!
E9&!*'B)+$;! <)/&'!T)%!-'$&-!*?&'!%*-$78!%7<=)(&!)+-!;*+;&+(')(&-!7+-&'!?);7784!!
E9&! @'*-7;(! T)%! @7'$=$&-! *+! D*8.$=<)%9! [Lkt]4! ! ;R=S5S(K! LG! 031! [MKK3GZR!
D#D<f]O!�!k4gf![--R!LGR!X!�!k!GZR!)]R!k4gK![-R!LGR!X!�!k!GZR!.]R!k4Mg![--R!LGR!X!�!k!GZR!;]R!
h4kK![-R!LGR!X!�!k!GZR!-]R!h4he![(R!LGR!X!�!k!GZR!&]R!g4gK![%R!LGR!=]R!M4fK![8R!JGR!B]R!M4Je!
[8R!JGR!B]R!M4JK![(R!JGR!X!�!k!GZR!9]R!L4hJ![8R!JGR!$]R!L4MeR![8R!JGR!W]R!K4ik![(R!fGR!X!�!k!GZR!
Q]4! ! LfD! 031! [LKK3GZR! D#D<f]O! �! LgM4eR! LgM4JR! LMf4KR! LML4iR! Lfi4fR! Lfh4JR! Lff4fR!
LfJ4hR! LfL4eR! LfK4kR! LfK4LR! LJi4gR! LJi4eR! LJk4iR! LJg4iR! LJf4LR! LJJ4hR! LJJ4LR! LJL4hR!
LLf4hR! LKL4eR! hh4MR! ge4KR! gM4hR! gM4JR! MK4MR! fK4MR! JK4gR! LM4K4! ! 8wZ! ;)<;7<)(&-! =*'!
DJJGLi0CM6O!fif4L!=*7+-!./!F"SO!fiM4L4!
S
OO
N
O
O k
j
i
h
g
f
e
d
c
b
a
g
!
! LLJ!
O:O:O'#PG=;FCAC'<J'D/]K=P?/R/[O/[O/;FIP?Y;FGP?\/O+/LA=;AFG<aMZD/]bDcZMc/
LdYPEE<?/D/P?\/9+/]FG^<aLFdAC<_KAG<?AGF/9ZM[D+\/LA<GF'[!*1/&$\'
!
! gd.'*8*dJd.7(/<dLGd.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&![fJe!8BR!L!88*<]!
)+-! Md[Md9&Y/<@9&+/<]dJd[MRMReRed(&(')8&(9/<dLRfRJd-$*Y).*'*<)+dJd/<]dMGd
-$(9$&+*lfRJd.OJmRfmd-n@/''*<&![eLJ!8BR!L4L!88*<]!T&'&!-$%%*<?&-!$+!Le!85!-'/!EGF4!!
VJDCf! [J4kBwLK85R! )A]! T)%! )--&-! )+-! (9&! '&);($*+! T)%! %($''&-! 7+-&'! )'B*+4!!
,-[,,9f]M! [ig!8BR!K4L!88*<]!T)%!)--&-!)+-! (9&! '&);($*+!T)%! '&=<7Y&-!*?&'+$B9(4!!
E9&!'&);($*+!T)%!T)%9&-!T$(9!T)(&'!)+-!&Y(');(&-!$+(*!&(9/<!);&()(&4!!E9&!*'B)+$;!
<)/&'!T)%!-'$&-!*?&'!%*-$78!%7<=)(&!)+-!;*+;&+(')(&-!7+-&'!?);7784!!E9&!@'*-7;(!
T)%!@7'$=$&-!*+!D*8.$=<)%9![JLt]4! !;R=S5SF6!LG!031![MKK3GZR!D#D<f]O!�!k4he![-R!
LGR!X!�!k!GZR!)]R!k4gf![-R!LGR!X!�!k!GZR!.]R!k4ei![-R!LGR!X!�!k!GZR!;]R!h4kg![-R!LGR!X!�!k!GZR!
-]R!h4hM![(R!LGR!X!�!k!GZR!&]R!h4ef![-R!JGR!X!�!k!GZR!=]R!h4Mf![%R!LGR!B]R!h4fe![-R!JGR!X!�!k!GZR!
9]R!h4Jg![-R!LGR!X!�!k!GZR!$]R!h4Lk![-R!LGR!X!�!M!GZR!W]R!M4Lh![(R!JGR!X!�!k!GZR!Q]R!J4gk![(R!JGR!
X!�!k!GZR!<]R!L4hi![8R!JGR!8]R!L4gh![8R!JGR!+]R!L4ff![8R!kGR!*]R!L4Kf![(R!fGR!X!�!k!GZR!@]R!
K4iK! [(R! fGR! X! �! k!GZR! A]4! ! LfD!031! [LKK3GZR! D#D<f]O! �! LgM4MR! LgM4LR! LMM4gR! LMM4fR!
LML4gR! LMK4LR! Lfh4fR! Lfh4JR! LfJ4gR! LfL4MR! LfK4kR! LfK4KR! LJi4LR! LJk4hR! LJh4fR! LJh4KR!
LJe4LR! LJf4LR! LJJ4kR! LJL4gR! LLk4gR! LLg4hR! LLM4JR! LLJ4MR! MJ4LR! fe4hR! fL4kR! fL4gR! Ji4JR!
JJ4hR!JL4eR!LM4JR!LL4h4!!8wZ!;)<;7<)(&-!=*'!DfeGfJ0JCJ6JO!ehg4J!=*7+-!./!F"SO!ehh4J4!
S
N
S N
O
O
q
p
o
n
m
l
kj
i
h
gf
e
d c
b
a
f
h
o
!
! LLf!
O:O:Q'#PG=;FCAC'<J'D/]K=P?/R/[[V/;FIP?/V+/B@E]@^<?/M/P?\F=;PGP?\/9+/
]FG^<aLFdAC<_KAG<?AGF/9ZM[D+\/LA<GF'[07`/@/&$\'
!
! fd&(9/+/<did9&Y/<diGd;)'.)Z*<&! [eK! 8BR! K4Lk! 88*<]R! gd.'*8*dJd.7(/<dLGd
.&+Z*l-&n$%*A7$+*<$+&dLRf[JG]d-$*+&! [gK! 8BR! K4Lk! 88*<]R! ,-[,,9f]JD<J! [Lf! 8BR!
K4KLk! 88*<]R! )+-! D7H! [h! 8BR! K4Kfg! 88*<]! T&'&! -$%%*<?&-! $+! ('$&(9/<)8$+&! )+-!
9&)(&-!(*!hK!�D!*?&'+$B9(4! !E9&!('$&(9/<)8$+&!T)%!'&8*?&-!7+-&'!?);778!)+-!(9&!
@'*-7;(!T)%!@7'$=$&-!./!D*8.$=<)%9![fJt]4! !;R=S'S5K!LG!031![MKK3GZR!D#D<f]O!�!
k4kM![--R!LGR!X!�!k!GZR!)]R!k4ge![--R!LGR!X!�!k!GZR!.]R!k4eg![-R!LGR!X!�!k!GZR!;]R!k4Mf![%R!
LGR!-]R!k4LM![-R!LGR!X!�!k!GZR!&]R!h4ih![-R!LGR!X!�!k!GZR!=]R!h4kg![(R!LGR!X!�!k!GZR!B]R!h4hh!
[--R!LGR!X!�!k!GZR!9]R!h4eJ![(R!LGR!X!�!k!GZR!$]R!h4MM![-R!JGR!X!�!k!GZR!W]R!h4fK![(R!LGR!X!�!k!
GZR!Q]R!M4ff![(R!JGR!X!�!k!GZR!<]R!M4JK![(R!JGR!X!�!k!GZR!8]R!L4iK![(R!JGR!X!�!k!GZR!+]R!L4hgd
L4hJ![8R!JGR!*]R!L4eKdL4Je![8R!kGR!@]R!K4ii![(R!fGR!X!�!k!GZR!A]R!K4kk![(R!fGR!X!�!k!GZR!']4!!
LfD!031![LKK3GZR!D#D<f]O!�!LgM4fR!LgM4LR!LML4KR!LfJ4kR!LfL4hR!LfL4hR!LfK4hR!LfK4MR!
LJi4gR!LJh4MR!LJg4gR!LJM4hR!LJK4hR!LLi4kR!LKi4fR!LKi4JR!LKL4gR!LKL4gR!ke4fR!Mf4eR!MK4eR!
fL4hR! fK4MR! Ji4LR! Jh4LR! JJ4hR! JK4gR! LM4JR! LM4K4! !8wZ! ;)<;7<)(&-! =*'! DfgGfM0JCJO! eJg4f!
=*7+-!./!F"SO!eJh4f4!
N
N
O
O
a
b
cd
e
f
g
h
i
j
j
k
l
m
n o
p
qr
p
!
! LLM!
O:O:R'#PG=;FCAC'<J'DZT/]AC[D/F=;P?;FIP?\/OZV/]AC[[V/;FIP?/V+/B@E]@^<?/M/
P?\F=;PGP?\]FG^<a?NGdaMZWdY;FG@G=;E<?AGF/9ZMZRZW[D+ZT+\/=F=E@<GF'
[07`/@/&!$/@/07`\'
!
! fd&(9/+/<did9&Y/<diGd;)'.)Z*<&! [LKK! 8BR! K4fg! 88*<]R! MRid-$.'*8*dJRhd
.$%[Jd&(9/<9&Y/<].&+Z*l<8+nlfRkn@9&+)+(9'*<$+&dLRfRgRk[JGRhG]d(&(')*+&! [JfJ! 8BR!
K4fg!88*<]R!,-[,,9f]JD<J![Je!8BR!K4Kfg!88*<]R!)+-!D7H![LM!8BR!K4KhJ!88*<]!T&'&!
-$%%*<?&-! $+! -'/! EGF! T$(9! L! 85! ('$&(9/<)8$+&4! ! E9&! '&);($*+! T)%! %($''&-! =*'! L!
8$+7(&4!!E9&!%*<?&+(%!T&'&!'&8*?&-!7+-&'!?);778!)+-!(9&!@'*-7;(!T)%!@7'$=$&-!*+!
D*8.$=<)%9![eht]4! !;R=S5SFF/!LG!031![MKK3GZR!D#D<f]O!�!k4kk![%R!JGR!)]R!k4Mi![%R!
JGR!.]R!k4Le![-R!JGR!X!�!k!GZR!;]R!h4kM![--R!JGR!X!�!k!GZR!-]R!h4eK![(R!JGR!X!�!k!GZR!&]R!h4Mf!
[--R!MGR!X!�!k!GZR!=]R!h4fL![(R!JGR!X!�!k!GZR!B]R!M4fJ![(R!MGR!X!�!k!GZR!9]R!M4Jf![(R!MGR!X!�!k!
GZR!$]R!J4Kg![8R!JGR!W]R!L4ki![8R!MGR!Q]R!L4fi![8R!JkGR!<]R!L4KL![(R!gGR!X!�!k!GZR!8]R!K4igd
K4ke! [8R! LJGR! +]4! ! LfD!031! [LKK3GZR! D#D<f]O! �! LgJ4kR! LgJ4KR! LML4LR! LMK4iR! Lfh4LR!
LfK4eR! LJh4JR! LJg4eR! LJg4JR! LJe4hR! LJM4gR! LJM4JR! LJf4LR! LJJ4eR! LJK4hR! LLi4iR! LLJ4hR!
LKi4fR!LKi4KR!LKe4gR!iK4KR!MM4gR!Mf4MR!fk4KR!fL4hR!fK4iR!Ji4LR!Jk4kR!Jh4LR!JM4fR!Jf4fR!JJ4hR!
LM4MR!LM4LR!LK4k4!!8wZ!;)<;7<)(&-!=*'!DhKGhg0MCMO!LKfg4g!=*7+-!./!F"SO!LKfh4J4!
O:O:9T'(]C<E]@GBF'2F@CKEFNFG=C'
! 6*<7($*+! ).%*'.)+;&! %@&;(')! T&'&! '&;*'-&-! *+! )! D)'/! LKK!
N
N
O
O
O
O
NN
n
m
l
k
j
i
h
gf e
d
cb
a
a
b
c
d
e
f
f
f
g
h
i
j
l
l
l
l
l
k
m
n
n
n
!
! LLe!
%@&;('*@9*(*8&(&'4!!"<<!&Y($+;($*+!;*&==$;$&+(%!T&'&!-&(&'8$+&-!='*8!)!<$+&)'!=$(!*=!
=$?&!-)()!@*$+(%4!!!
O:O:9W'0PB?AB'3<?=@NNF=EP'@GL'"GFEHP'4F>F?'"C=AN@=A<G'
! D/;<$;!?*<()88&('/!&Y@&'$8&+(%!T&'&!;)''$&-!*7(!7%$+B!)!S"6$!Df!;&<<!%()+-!
=$((&-!T$(9!(9'&&!&<&;('*-&%O!)!@<)($+78!-$%Q!T*'Q$+B!&<&;('*-&R!@<)($+78!)7Y$<$)'/!
&<&;('*-&! )+-!"Bw"B�! '&=&'&+;&! &<&;('*-&4! ! E9&! ?*<()88*B')8%!T&'&! '&;*'-&-! $+!
-'/! #D3! 7%$+B! (&(').7(/<)88*+$78! 9&Y)=<7*'*@9*%@9)(&! )%! (9&! %7@@*'($+B!
&<&;('*</(&! )+-! =&''*;&+&! )%! (9&! %()+-)'-4! ! GC3C! )+-! 5>3C! &+&'B/! <&?&<%! T&'&!
;)<;7<)(&-!7%$+B!(9&!@&)Q!*+%&(%!7%$+B!(9&!&A7)($*+%O!
GC3C!�!d[M4k!�!2*Y!*+%&(]!
5>3C!�!d[M4k!�!2'&-!*+%&(]!
!
!
!
!
! LLg!
!
LG!)+-!LfD!031!*=!#E,d,#H4!
!
! LLh!
!
LG!)+-!LfD!031!*=!DS^d0H4!
!
! LLk!
!
LG!)+-!LfD!031!*=!2#CEd0H4!
!
! LLi!
!
LG!)+-!LfD!031!*=!#E,d0H4!
!
! LJK!
!
LG!)+-!LfD!031!*=!DS^d)d0H4!!
!
! LJL!
!
LG!)+-!LfD!031!*=!DS^d)d0#Hd)dDS^4!
!
!
!
! LJJ!
O:Q'.FJFEFGBFC'
! [L]! G&<B&%&+R! 34u! 6*+-&'B))'-R! 14u! V'&.%R! F4! D4! "-?)+;&-! 3)(&'$)<%! )+-!,'*;&%%&%!=*'!,*</8&'!6*<)'!D&<<!#&?$;&%4!01,2"#&%1,-3&41!DU9UR!56R!fgdgK4!
! [J]! E9*8@%*+R!S4!D4u! F'&;9&(R! X4!34! X4! ,*</8&'dF7<<&'&+&!D*8@*%$(&! 6*<)'!D&<<%4!;89&?1,-3&41,@8#1,7A1!DUUWR!'BR!ekdhh4!
! [f]! D9&+BR! I4dX4u! I)+BR! 64dG4u! G%7R! D4d64! 6/+(9&%$%! *=! D*+W7B)(&-! ,*</8&'%!=*'!C'B)+$;!6*<)'!D&<<!"@@<$;)($*+%4!-3&41,H&C1!DUUVR!F6KR!ekgkdeiJf4!
! [M]! ^9)+BR!^4d:4u!_)+BR!X4!6('7;(7'&%!)+-!,'*@&'($&%!*=!D*+W7B)(&-!#*+*'d";;&@(*'! D*@*</8&'%! =*'! 6*<)'! D&<<! "@@<$;)($*+%4! 01, 2"#&%1, -3&41!DU9DR! 55R! MLhkdMLkh4!
! [e]! S$)+R! 54u! ^97R! 24u! E)+BR! X4u! E)+BR!_4u! ^9)+BR! F4! 1&;&+(! ,'*B'&%%! $+! (9&!#&%$B+!*=!0)''*T!S)+-B)@!D*+W7B)(&-!,*</8&'%! =*'!G$B9d2==$;$&+;/!C'B)+$;!6*<)'!D&<<%4!=%*91,=*+:41,)DE1!DU9DR!(BR!LJiJdLffL4!
! [g]! D9&+R!X4u!D)*R!I4!#&?&<*@8&+(!*=!0*?&<!D*+W7B)(&-!#*+*'!,*</8&'%!=*'!G$B9d2==$;$&+;/!S7<QdG&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!;DD1,-3&41,H&.1!DUUVR!'5R!LhKidLhLk4!
! [h]! S<*7$+R!04u!3$;9)7-R!"4u!:&+-'*+R!#4u!_)Q$8R!64u!S<)$'R!24u!0&)B7d,<&%7R!14u! S&<<&(�(&R! 34u! #7'*;9&'R! :4u! E)*R! I4u! 5&;<&';R! 34! E*T)'-! )! 1)($*+)<! #&%$B+! *=!,*</[JRhdD)'.)Z*<&]!#&'$?)($?&%!=*'!6*<)'!D&<<%4!01,;41,-3&41,)*D1!DUUTR!F(6R!hfJdhMJ4!
! [k]! D9&+R!G4dI4u!G*7R!X4u!^9)+BR!64u!5$)+BR!I4u!I)+BR!:4u!I)+BR!I4u!I7R!54u!_7R!I4u!5$R!:4!,*</8&'!6*<)'!D&<<%!T$(9!2+9)+;&-!C@&+dD$';7$(!`*<()B&! )+-!2==$;$&+;/4!!"#1,=3*#*81!DUUVR!(R!gMidgef4!
! [i]! G*7R! X4u! ,)'QR! 34dG4u! ^9)+BR! 64u! I)*R! I4u! D9&+R! 54d34u! 5$R! X4dG4u! I)+BR! I4!S)+-B)@! )+-!3*<&;7<)'! 2+&'B/! 5&?&<! D*+('*<! *=! D*+W7B)(&-!,*</8&'!,9*(*?*<()$;!3)(&'$)<%!S)%&-!*+!S&+Z*lLRJd.OMRed.�n-$(9$*@9&+&4!2"D%*4*+&D$+&.!DUUWR!'FR!gKLJdgKLk4!
! [LK]! G*7R! X4u! D9&+R! G4dI4u! ^9)+BR! 64u! 5$R! :4u! I)+BR! I4! 6/+(9&%$%R!D9)');(&'$Z)($*+R!)+-!,9*(*?*<()$;!,'*@&'($&%!*=!)!5*T!S)+-!:)@!,*</8&'!S)%&-!*+!6$<*<&dD*+()$+$+B! ,*</(9$*@9&+&%! )+-! JRLRfdS&+Z*(9$)-$)Z*<&4! 01, ;41, -3&41, )*D1!DUUWR!F(6R!LgLMMdLgLMe4!
! [LL]! 5$)+BR! I4u! F&+BR! #4u! _7R! I4u! E%)$R! 64dE4u! 5$R! :4u! 1)/R! D4u! I7R! 54! G$B9</!2==$;$&+(!6*<)'!D&<<!,*</8&'%!#&?&<*@&-!?$)!F$+&dE7+$+B!*=!6('7;(7')<!)+-!2<&;('*+$;!,'*@&'($&%4!01,;41,-3&41,)*D1!DUUVR!F(FR!hhiJdhhii4!
!
! LJf!
! [LJ]! 5$)+BR!I4u!o7R!^4u!o$)R!X4u!E%)$R!64dE4u!_7R!I4u!5$R!:4u!1)/R!D4u!I7R!54!F*'!(9&!S'$B9(! F7(7'&�S7<Q! G&(&'*W7+;($*+! ,*</8&'! 6*<)'! D&<<%! T$(9! ,*T&'! D*+?&'%$*+!2==$;$&+;/!*=!h4Mt4!;AC1,2"#&%1!DU9UR!55R!2Lfed2Lfk4!
! [Lf]! I7&R!_4u! ^9)*R! I4u! 69)*R! 64u! E$)+R!G4u! o$&R! ^4u! :&+BR! I4u!_)+BR! F4! 0*?&<!0H1d".%*'.$+B!D*+W7B)(&-!,*</8&'%!=*'!2==$;$&+(!,*</8&'!6*<)'!D&<<%O!2==&;(!*=!"<Q/<!D9)$+!5&+B(9!*+!#&?$;&!,&'=*'8)+;&4!01,2"#&%1,-3&41!DUUVR!FKR!JLiidJJKg4!
! [LM]! S&+)+($R! E4! 54u! `&+Q)()')8)+R! #4! C'B)+$;! 6*<)'! D&<<%O! "+! C?&'?$&T!F*;7%$+B!*+!";($?&!5)/&'!3*'@9*<*B/4!=3*#*.:81,H&.1!DUURR!/BR!hfdkL4!
! [Le]! I)+BR!o4u!5**%R! X4!E*T)'-!G$B9d,&'=*'8)+;&!,*</8&'!6*<)'!D&<<%O�!E9&!H8@*'()+;&!*=!3*'@9*<*B/!D*+('*<4!2"D%*4*+&D$+&.!DUUTR!'6R!LfefdLfgJ4!
! [Lg]! I7R! :4u! :)*R! X4u! G788&<&+R! X4! D4u! _7-<R! F4u! G&&B&'R! "4! X4! ,*</8&'!,9*(*?*<()$;!D&<<%O!2+9)+;&-!2==$;$&+;$&%!?$)!)!0&(T*'Q!*=!H+(&'+)<!#*+*'d";;&@(*'!G&(&'*W7+;($*+%4!)DE&8D&!9VVQR!5B6R!LhkidLhiL4!
! [Lh]! "'$)%R!"4!D4u!3);V&+Z$&R!X4!#4u!6(&?&+%*+R!14u!G)<<%R!X4!X4!34u!H+.)%&Q)')+R!34u!_**R!24!,4u!1$;9)'-%R!#4u!F'$&+-R!14!G4!,9*(*?*<()$;!,&'=*'8)+;&!)+-!3*'@9*<*B/!*=! ,*</=<7*'&+&! S<&+-%O�! "! D*8.$+&-! 3$;'*%;*@$;! )+-! ,9*(*?*<()$;! H+?&%($B)($*+4!2"D%*4*+&D$+&.!DUU9R!('R!gKKedgKLf4!
! [Lk]! V$8R!I4u!D**QR!64u!D9*7<$%R!64!"4u!0&<%*+R!X4u!#7'')+(R!X4!14u!S')-<&/R!#4!#4!D4!C'B)+$;! ,9*(*?*<()$;! #&?$;&%! S)%&-! *+! S<&+-%! *=! 1&B$*'&B7<)'! ,*</[fd9&Y/<(9$*@9&+&]! )+-! ,*</[iRid-$*;(/<=<7*'&+&d;*d.&+Z*(9$)-$)Z*<&]4! -3&41, 2"#&%1!DUUOR!FQR!MkLJdMkLk4!
! [Li]! V$8R!I4u!D**QR!64u!E7<)-9)'R!64!34u!D9*7<$%R!64!"4u!0&<%*+R!X4u!#7'')+(R!X4!14u!S')-<&/R!#4!#4!D4u!:$<&%R!34u!3;D7<<*;9R!H4u!G)R!D4d64u!1&&R!34!"!6('*+B!1&B$*'&B7<)'$(/!2==&;(! $+! 6&<=dC'B)+$Z$+B! D*+W7B)(&-! ,*</8&'! F$<8%! )+-! G$B9d2==$;$&+;/!,*</(9$*@9&+&OF7<<&'&+&!6*<)'!D&<<%4!!"#1,2"#&%1!DUURR!GR!LihdJKf4!
! [JK]! "'$)%R! "4! D4u! D*';*')+R!04u! S)+);9R!34u! F'$&+-R!14!G4u!3);V&+Z$&R! X4! #4u!G7;QR! _4! E4! 64! `&'($;)<</! 6&B'&B)(&-! ,*</8&'dS<&+-! ,9*(*?*<()$;! E9$+dF$<8!6('7;(7'&%!E9'*7B9!67'=);&d3&-$)(&-!6*<7($*+!,'*;&%%$+B4!;<<+1,=3:.1,>&##1!DUUDR!/6R!LgiedLgih4!
! [JL]! ^9)+BR!F4u!X&%@&'%&+R!V4!:4u!SWy'%('y8R!D4u!6?&+%%*+R!34u!"+-&'%%*+R!34!14u! 67+-%('y8R! `4u! 3)B+7%%*+R! V4u! 3**+%R! 24u! I)'(%&?R! "4u! H+B)+{%R! C4! H+=<7&+;&! *=!6*<?&+(! 3$Y$+B! *+! (9&! 3*'@9*<*B/! )+-! ,&'=*'8)+;&! *=! 6*<)'! D&<<%! S)%&-! *+!,*</=<7*'&+&!D*@*</8&'wF7<<&'&+&!S<&+-%4!;AC1,M$8D#1,2"#&%1!DUURR!FQR!gghdghM4!
! [JJ]! S&'(9*R! 64u! G)&<-&'8)+%R! H4u! 6T$++&+R! "4u! 3**+%R! _4u! 3)'(&+%R! E4u!57(%&+R!54u!`)+-&'Z)+-&R!#4u!3)+;)R! X4u! 6&+&%R!"4u!S*+=$B<$*R!"4! H+=<7&+;&!*=!E9&'8)<!"B&$+B! *+! (9&! 6().$<$(/! *=! ,*</8&'! S7<Q! G&(&'*W7+;($*+! 6*<)'! D&<<%4! )*+1, 78&%9:,2"#&%1,)*+1,-&++.!DUUTR!KFR!fkedfki4!
!
! LJM!
! [Jf]! G*@@&R!G4u!0$BB&8)++R!34u!_$+-&'R!D4u!V')7(R!X4u!G$&%B&+R!14u!G$+%;9R!"4u!3&$%%+&'R! #4u! 6)'$;$=(;$R! 04! 64! 0)+*%;)<&! 3*'@9*<*B/! *=! D*+W7B)(&-!,*</8&'wF7<<&'&+&dS)%&-!S7<Qd!G&(&'*W7+;($*+!6*<)'!D&<<%4!;AC1,M$8D#1,2"#&%1!DUUOR!F'R!LKKedLKLL4!
! [JM]! 3)R! _4u! I)+BR! D4u! :*+BR! o4u! 5&&R! V4u! G&&B&'R! "4! X4! E9&'8)<</! 6().<&R!2==$;$&+(! ,*</8&'! 6*<)'! D&<<%! T$(9! 0)+*%;)<&! D*+('*<! *=! (9&! H+(&'@&+&(')($+B!0&(T*'Q!3*'@9*<*B/4!;AC1,M$8D#1,2"#&%1!DUUQR!FGR!LgLhdLgJJ4!
! [Je]! 5&&R!X4!V4u!3)R!_4!54u!S').&;R!D4!X4u!I7&+R!X4u!3**+R!X4!64u!V$8R!X4!I4u!5&&R!V4u!S)Z)+R! :4! D4u! G&&B&'R! "4! X4! ,'*;&%%$+B! "--$($?&%! =*'! H8@'*?&-! 2==$;$&+;/! ='*8!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%4!01,;41,-3&41,)*D1!DUUWR!F(6R!fgLidfgJf4!
! [Jg]! ,&&(R! X4u! V$8R! X4! I4u! D*)(&%R! 04! 24u! 3)R! _4! 54u! 3*%&%R! #4u! G&&B&'R! "4! X4u!S)Z)+R! :4! D4! 2==$;$&+;/! 2+9)+;&8&+(! $+! 5*TdS)+-B)@! ,*</8&'! 6*<)'! D&<<%! ./!,'*;&%%$+B!T$(9!"<Q)+&!#$(9$*<%4!!"#1,2"#&%1!DUUTR!QR!MihdeKK4!
! [Jh]! ,$?'$Q)%R! "4u! 0&7B&.)7&'R! G4u! 6)'$;$=(;$R! 04! 64! H+=<7&+;&! *=! ,'*;&%%$+B!"--$($?&%!(*!0)+*d3*'@9*<*B/!)+-!2==$;$&+;/!*=!S7<QdG&(&'*W7+;($*+!6*<)'!D&<<%O!"!D*8@)')($?&!1&?$&T4!)*+1,78&%1!DU99R!/GR!LJJgdLJfh4!
! [Jk]! S)(&%R! F4u! F'&-'$;Q%*+R! :4! S<*;Q! D*@*</8&'%d#&%$B+&'! 6*=(! 3)(&'$)<%4!=3:.1,L*A":!9VVVR!G5R!fJdfk4!
! [Ji]! ,)'QR! D4u! I**+R! X4u! E9*8)%R! 24! 54! 2+).<$+B! 0)+*(&;9+*<*B/! T$(9! 6&<=!"%%&8.<&-!S<*;Q!D*@*</8&'!,)((&'+%4!=*+:4&%!DUUMR!''R!ghJedghgK4!
! [fK]! 6*88&'R! 34u! G7&((+&'R! 64u! E9&<)QQ)(R! 34! #*+*'d";;&@(*'! S<*;Q!D*@*</8&'%!=*'!,9*(*?*<()$;!"@@<$;)($*+%4!01,2"#&%1,-3&41!DU9UR!56R!LKhkkdLKhih4!
! [fL]! F*''&%(R!64!14!E9&!,)(9!(*!>.$A7$(*7%!)+-!5*TdD*%(!C'B)+$;!2<&;('*+$;!"@@<$)+;&%!*+!,<)%($;4!!"#$%&!DUUOR!'5/R!iLLdiLk4!
! [fJ]! G)<<%R! X4! X4! 34u! ,$;9<&'R! V4u! F'$&+-R! 14! G4! 2Y;$(*+! #$==7%$*+! )+-!#$%%*;$)($*+! $+!)!,*</[@d@9&+/<&+&?$+/<&+&]wDgK!G&(&'*W7+;($*+!,9*(*?*<()$;!D&<<4!;<<+1,=3:.1,>&##1!9VVRR!Q/R!fLJKdfLJJ4!
! [ff]! 5$+-+&'R!64!34u!G7((+&'R!64u!D9$;9&R!"4u!E9&<)QQ)(R!34u!V')7%;9R!:4!D9)'B&!6&@)')($*+! )(! 6&<=d"%%&8.<&-!0)+*%('7;(7'&-!S7<Q! H+(&'=);&! $+!S<*;Q! D*@*</8&'%4!;89&?1,-3&41,@8#1,7A1!DUURR!'GR!ffgMdffgk4!
! [fM]! 6;9)'.&'R! 34! D4u! 3~9<.);9&'R! #4u! V*@@&R! 34u! #&+QR! ,4u! _)<-)7=R! D4u!G&&B&'R! "4! X4u! S').&;R! D4! X4! #&%$B+! 17<&%! =*'! #*+*'%! $+! S7<QdG&(&'*W7+;($*+! 6*<)'!D&<<%�E*T)'-%!LK�t!2+&'B/dD*+?&'%$*+!2==$;$&+;/4!;AC1,2"#&%1!DUURR!F/R!hkidhiM4!
!
! LJe!
! [fe]! 69)9&&+R!64!24u!S').&-R!D4!X4u!6)'$;$=(;$R!04!64u!,)-$+B&'R!F4u!F'*89&'ZR!E4u!G788&<&+R!X4!D4!J4et!2==$;$&+(!C'B)+$;!,<)%($;!6*<)'!D&<<%4!;<<+1,=3:.1,>&##1!DUU9R!B/R!kMLdkMf4!
! [fg]! D')?$+*R!"4u!6)'$;$=(;$R!04!64!#*7.<&dD).<&!,*</8&'%!=*'!F7<<&'&+&!S)%&-!C'B)+$;!C@(*&<&;('*+$;!"@@<$;)($*+%4!01,2"#&%1,-3&41!DUUDR!F5R!LifLdLiMf4!
! [fh]! ^9)+BR! F4u! 6?&+%%*+R! 34u! "+-&'%%*+R! 34! 14u! 3)BB$+$R! 34u! S7;&<<)R! 64u!3&++)R! 24u! H+B)+{%R! C4! 6*<7.<&! ,*</(9$*@9&+&%! T$(9! ,&+-)+(! F7<<&'&+&! :'*7@%! )%!#*7.<&!D).<&!3)(&'$)<%!=*'!,9*(*-$*-&%4!;AC1,2"#&%1!DUU9R!F(R!LkhLdLkhM4!
! [fk]! G)8<&/R! H4! _4! 0)+*%('7;(7'&! F).'$;)($*+! >%$+B! S<*;Q! D*@*</8&'%4!!"8*#&D38*+*9:!DUUMR!F'R!1fi4!
! [fi]! 5)ZZ)'$R! 34u! 5�@&Zdj7$+(&<)R! 34! "4! S<*;Q! D*@*</8&'%! )%! )! E**<! =*'!0)+*8)(&'$)<!F).'$;)($*+4!;AC1,2"#&%1!DUUMR!FGR!LekfdLeiM4!
! [MK]! 3)(7'*?�R!V4u!?)+!S)?&<R!64!64u!_$&+QR!34!34u!X)+%%&+R!14!"4!X4u!V&8&'$+QR!34!#&%;'$@($*+!*=!(9&!3*'@9*<*B/!#&@&+-&+(!D9)'B&!E')+%@*'(!)+-!,&'=*'8)+;&!*=!,*</8&'OF7<<&'&+&!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%4!;AC1,M$8D#1,2"#&%1!DU99R!5FR!JgLdJgi4!
! [ML]! 6)'/R! 04u! 17.)()(R! 54u! S'*;9*+R! D4u! G)-Z$$*)++*7R! :4u! 17*Q*<)$+&+R! X4u!3&ZZ&+B)R! 14! 6&<=d"%%&8.</! *=! ,*</[-$&(9/<9&Y/<*Y/d@d@9&+/<&+&?$+/<&+&]d.d@*</[Md?$+/<@/'$-$+&]!1*-dD*$<!S<*;Q!D*@*</8&'!6/%(&8%4!2"D%*4*+&D$+&.!DUUTR!'6R!giiKdgiih4!
! [MJ]! 6()<8);9R!>4u!-&!S*&'R!S4u!`$-&<*(R!D4u!?)+!G7((&+R!,4!F4u!G)-Z$$*)++*7R!:4!6&8$;*+-7;($+B!#$.<*;Q!D*@*</8&'%!6/+(9&%$Z&-!./!3&)+%!*=!D*+('*<<&-!1)-$;)<!,*</8&'$Z)($*+!E&;9+$A7&%4!01,;41,-3&41,)*D1!DUUUR!F55R!eMgMdeMhJ4!
! [Mf]! I)%%)'R! "4u! 3$*ZZ*R! 54u! :$'*+-)R! 14u! G*'*T$(ZR! :4! 1*-pD*$<! )+-! "<<dD*+W7B)(&-!S<*;Q!D*@*</8&'%!=*'!,9*(*?*<()$;!"@@<$;)($*+%4!=%*91,=*+:41,)DE1!DU9MR!(/R!hiLdkMM4!
! [MM]! D9&+R!X4!E4u!E9*8)%R!24!54u!C.&'R!D4!V4u!GT)+BR!64!64!^$BZ)B!3*'@9*<*B/!*=!)! ,*</[%(/'&+&d.d9&Y/<! $%*;/)+)(&]! 1*-dD*$<! S<*;Q! D*@*</8&'4! 2"D%*4*+&D$+&.!9VVQR!5/R!LgkkdLgih4!
! [Me]! D9&+R!X4!6(7-/!*=!6&<=d"%%&8.</!*=!6/88&('$;!D*$<d1*-dD*$<!"S"dE/@&!E'$.<*;Q! D*@*</8&'%! ./! 6&<=dD*+%$%(&+(! F$&<-! 5)(($;&!3&(9*-4! 01, -3&41, =3:.1!DUUTR!F5BR!KJMLKedKJMLKLdKJMLKedKJMLKe4!
! [Mg]! 5&&R! 34u! D9*R! S4dV4u! ^$+R! _4dD4! 67@')8*<&;7<)'! 6('7;(7'&%! ='*8!1*-|D*$<!S<*;Q!D*@*</8&'%4!-3&41,H&C1!DUU9R!F6FR!fkgidfkiJ4!
!
! LJg!
! [Mh]! 57-T$B%R!64u!V')7%;9R!:4u!3)B&'<&R!14!,9)%&!S&9)?$*'!*=!"SD!E'$.<*;Q!E&'@*</8&'%!$+!E9$+!F$<8%O!3&%*%;)<&!6$87<)($*+%4!2"D%*4*+&D$+&.!DUUQR!(/R!LkeidLkgh4!
! [Mk]! #)'<$+BR!64!S4!S<*;Q!D*@*</8&'%!=*'!,9*(*?*<()$;%4!78&%9:,78CE%*81,)DE1!DUUVR!5R!LJggdLJhf4!
! [Mi]! G)-Z$$*)++*7R! :4! 6&8$;*+-7;($+B! S<*;Q! D*@*</8&'%! =*'! 6&<=d"%%&8.<&-!,9*(*?*<()$;!#&?$;&%4!2H),U$++1!DUUDR!5BR!MegdMgK4!
! [eK]! 6&B)<8)+R! 14! "4u! 3;D7<<*;9R! S4u! V$'8)/&'R! 64u! >'.)+R! X4! X4! S<*;Q!D*@*</8&'%!=*'!C'B)+$;!C@(*&<&;('*+$;%4!2"D%*4*+&D$+&.!DUUVR!'5R!iJKediJLg4!
! [eL]! #&<;)8@R! X4! G4u! 69$R! I4u! I78R! X4dG4u! 6)W*(*R! E4u! #&<<mC'(*R! 24u! S)'<*TR! 64u!0)Z&&'7--$+R! 34! V4u! 3)'-&'R! 64! 14u! :'{(Z&<R! 34! E9&! 1*<&! *=! r!S'$-B&%! $+! G$B9d2==$;$&+;/!#6D%!S)%&-!*+!>+%/88&('$;)<!6A7)')$+&%4!-3&41,7$%1, 01!DU9MR!FKR!LkLidLkJh4!
! [eJ]! 5$7R! I4u! ^9)*R! X4! `$%$.<&! 5$B9(dG)'?&%($+B! ,&'/<&+&.$%$8$-&dF7<<&'&+&![DgK]! #/)-%! T$(9! S$-$'&;($*+)<! },$+Bd,*+B}! 2+&'B/! E')+%=&'! )%! E'$@<&(!,9*(*%&+%$($Z&'%! =*'! ,9*(**Y$-)($*+! *=! LRed#$9/-'*Y/+)@9(9)<&+&4!-3&41, -*44$81!DU9DR!'/R!fheLdfhef4!
! [ef]! G*<('7@R!F4!C4u!3~<<&'R!:4!14!X4u!j7)+(&R!G4u!#&!F&/(&'R!64u!#&!6;9'/?&'R!F4!D4u!3~<<&+R!V4!E&''/<&+$8$-&%O!0&T!0H1!F<7*'&%;&+(!#/&%4!-3&41,7$%1,01!9VVTR!(R!JLidJJe4!
! [eM]! 5&&R!64u!E9*8)%R!V4!14!X4u!E9)/78)+)?)+R!64u!S)'-&&+R!D4!X4!#&@&+-&+;&!*=! (9&! ET*d,9*(*+! ".%*'@($*+! D'*%%! 6&;($*+! *+! (9&! D*+W7B)($*+! *=! (9&!,9&+/<);&(/<&+&!5$+Q&'! $+!#$@*<)'!#*+*'|S'$-B&|";;&@(*'!D9'*8*@9*'&%4! 01, =3:.1,-3&41,;!DUUQR!F6KR!ihghdihhM4!
! [ee]! :7*R! 64u! 67+R! X4u! 3)R! 54u! I*7R! _4u! I)+BR! ,4u! ^9)*R! X4! `$%$.<&! 5$B9(dG)'?&%($+B! 0)@9(9)<&+&-$$8$-&! [0#H]dDgK! #/)-%! )%! G&)?/d"(*8dF'&&! C'B)+$;!E'$@<&(!,9*(*%&+%$($Z&'%! =*'!E'$@<&(pE'$@<&(!"++$9$<)($*+!S)%&-!>@;*+?&'%$*+4!R:&.,=E941!DU9MR!KQR!MMidMek4!
! [eg]! S')7+&;Q&'R!_4!"4u!C*%(&'9*7(R!64!#4u!CT;Z)';Z/QR!^4!14u!5)'%&+R!14!24u!5)'%*+R!S4!_4u!:$+<&/R!#4!64u!S*<()<$+)R!C4!`4u!6(')7%%R!64!G4u!V*@$-)Q$%R!04u!C<%*+R!#4!D4!2(9/+/<&+&d5$+Q&-!#*+*'p";;&@(*'!"<(&'+)($+B!D*@*</8&'%4!2"D%*4*+&D$+&.!DU9MR!'QR!ffghdffhe4!
! [eh]! V$?)<)R! 34u! #$&-&'$;9R! F4! *4! ";&(/<&+&d#&'$?&-! 6('*+B! C'B)+$;!";;&@(*'%!=*'!,<)+)'!)+-!0*+@<)+)'!,7%9|,7<<!D9'*8*@9*'&%4!;DD1,-3&41,H&.1!DUUWR!'5R!JfedJMk4!
!
! LJh!
0+(1*".'Q'
#822(.)'(&!'-8*8."'!$."0*$,&#'
Q:9'#KNN@EP'
! "<<! *'B)+$;! @9*(*?*<()$;%! [C,`%]! 7+-&'B*! =*7'! $+(&''&<)(&-! @'*;&%%&%! (*!
;*+?&'(!%7+<$B9(!$+(*!&<&;('$;)<!&+&'B/O!<$B9(!).%*'.)+;&R!&Y;$(*+!-$%%*;$)($*+R!;9)'B&!
8$B')($*+R! )+-! ;9)'B&! ;*<<&;($*+L4! ! C@($8$Z)($*+! *=! (9&! );($?&! <)/&'! (9'*7B9!
8*<&;7<)'!-&%$B+!)+-!@'*;&%%$+B!;*+-$($*+%!9)%!'&%7<(&-!$+!)!%(&)-/!$+;'&)%&!$+!(9&!
&==$;$&+;$&%! *=! C,`%Jde4! ! 6$B+$=$;)+(! &==*'(%! 9)?&! =*;7%&-! *+! $8@'*?$+B! (9&! <$B9(!
).%*'.)+;&!*=! (9&!-*+*'!8)(&'$)<! (9'*7B9! (9'&&!8&(9*-%O! 7($<$Z$+B!@*</8&'%!T$(9!
&Y(&+-&-! ;*+W7B)($*+gdkR! -&%$B+$+B!@*</8&'%!T$(9! %().$<$Z&-!A7$+*$-! =*'8%iRLKR! )+-!
-&?&<*@$+B!@*</8&'%!T$(9!.);Q.*+&%!;*+%$%($+B!*=!)<(&'+)($+B!-*+*'!)+-!);;&@(*'!
8*$&($&%eRLL4! !3*'&!'&;&+(</R!%8)<<!8*<&;7<&!-/&%!;)@).<&!*=!).%*'.$+B!)!%$B+$=$;)+(!
@*'($*+!*=! (9&! %*<)'! %@&;('78!9)?&!.&&+!-&8*+%(')(&-! (*! '&%7<(! $+!9$B9!&==$;$&+;/!
C,`%LJdLi4! !D9)@(&'!L!=*;7%&%!*+!$+('*-7;$+B!(9&!@'*;&%%&%!)+-!@)')8&(&'%!*=!C,`%!
)%!T&<<!)%!;7''&+(!%7;;&%%=7<!-&%$B+%!$+!.*(9!@*</8&'!)+-!%8)<<!8*<&;7<&!C,`%4!!!
! H+!D9)@(&'!JR!%8)<<!8*<&;7<&!%A7)')$+&!-/&%!T&'&!$+?&%($B)(&-!=*'!(9&$'!7%&!
$+! C,`%4! ! 6A7)')$+&! -/&%! T$(9! ('$)'/<)8$+&! =7+;($*+)<! B'*7@%! )'&! @'*8$%$+B!
;)+-$-)(&! =*'!C,`%JKdJg4! ! "<<! *=! (9&! %A7)')$+&! -/&%! %9*T! %$B+$=$;)+(! ).%*'.)+;&! )(!
<*+B! T)?&<&+B(9%4! ! F7+;($*+)<$Z$+B! (9&! ('$)'/<)8$+&! T$(9! &<&;('*+! -*+)($+B! )+-!
&<&;('*+! T$(9-')T$+B! B'*7@%! '&%7<(%! $+! )! (7+$+B! *=! (9&! GC3C! &+&'B/! <&?&<4!!
6(')(&B$;)<</! (7+$+B! (9&!.)+-B)@!)+-!GC3C!&+&'B/! <&?&<!@<);&8&+(!)<<*T%! =*'! (9&!
*@($8$Z)($*+!*=!(9&!<$B9(!9)'?&%($+B!)+-!(9&!`CD!*=!(9&!%/%(&84!!6AdE""dCGR!6AdE""d
!
! LJk!
DgGLfR!)+-!6AdE""dG!%9*T!%('$;(</!9*<&!8*.$<$(/!$+!(9$+!=$<8!(')+%$%(*'!;*+=$B7')($*+4!!
E9&!=<7*'$+)(&-!8*<&;7<&%!-&8*+%(')(&!)!;9)+B&!$+!(9&!;9)'B&!;)''$&'R!T$(9!6AdE""d
F!.&$+B!)8.$@*<)'!)+-!6AdE""dDFf!.&$+B!%('$;(</!&<&;('*+!(')+%@*'($+B4!!,'&<$8$+)'/!
,`!-&?$;&%!%9*T!(9)(!(9&%&!8*<&;7<&%!)'&!@'*8$%$+B!;)+-$-)(&%!=*'!%8)<<!8*<&;7<&!
C,`%4!
! H+! D9)@(&'! fR! (9&! );;&@(*'! %('&+B(9! *=! Q&(*;/)+$+&! -/&%! )'&! (7+&-! (*!
8)+$@7<)(&! (9&! ).%*'.)+;&! @'*@&'($&%! *=! (9&! -/&%4! ! V&(*;/)+$+&! -/&%! 9)?&! .&&+!
$+?&%($B)(&-! =*'! C,`%! -7&! (*! (9&$'! &+9)+;&-! <$B9(! ).%*'.)+;&JhdfL4! ! "<<! *=! (9&!
Q&(*;/)+$+&! -/&%! $+?&%($B)(&-! %9*T! %$B+$=$;)+(! ).%*'.)+;&! )+-! <*+B!T)?&<&+B(9%!
T$(9!.*(9!)!rdrs!(')+%$($*+!)%!T&<<!)%!)!;9)'B&!(')+%=&'!.)+-4! !H(!T)%!=*7+-!(9)(!)%!
(9&!);;&@(*'!%('&+B(9!$%!$+;'&)%&-R!.*(9!(9&!rdrs!)+-!DE!@&)Q%!)'&!'&-!%9$=(&-4!!E9&!
;9)+B&%!$+!(9&!;9&8$;)<!%('7;(7'&!)<%*!)==&;(!(9&!%9$=(%!$+!(9&!LG!031!*=!(9&!-/&%R!)%!
T&<<!)%!(9&$'!;9)'B&!(')+%@*'(!@'*@&'($&%4!
! H+!D9)@(&'!MR!#d"!%/%(&8%!)'&!$+?&%($B)(&-!=*'!%&+%$($Z$+B!.<*;Q!;*@*</8&'%4!!
S<*;Q! ;*@*</8&'%! %9*T! -&%$').<&! 8*'@9*<*B$;)<! ;*+('*<R! '&%7<($+B! $+! =$<8%! T$(9!
%8)<<R!T&<<d*'-&'&-R!)+-!;*+($+7*7%!-*8)$+%fJdfe4!!>+=*'(7+)(&</R!.<*;Q!;*@*</8&'%!
*=(&+! %7==&'! ='*8! @**'! <$B9(! 9)'?&%($+B! -7&! (*! =<&Y$.<&R! ')(9&'! (9)+! ;*+W7B)(&-R!
.);Q.*+&%4! ! E9&! -&%$B+! '7<&%! =*'! #d"! %8)<<!8*<&;7<&! %&+%$($Z&'%! )'&! $+?&%($B)(&-4!!
68)<<!8*<&;7<&!%&+%$($Z&'%!)'&!-&%$'&-!-7&!(*!8$+$8)<!@&'(7'.)($*+!(*!(9&!@*</8&'!
%/%(&84!!68)<<!8*<&;7<&%!T$(9!;*++&;($*+%!(9)(!8$+$8$Z&!%(&'$;%!)'&!+&&-&-4!!S7<Q/!
8*<&;7<&%! '&%7<(! $+! (T$%(%! )+-! .&+-%! $+! (9&! #d"! %/%(&8R! ;)7%$+B! .'&)Q%! $+!
;*+W7B)($*+4! ! E9$%! @'&?&+(%! )@@'*@'$)(&! ;*887+$;)($*+! .&(T&&+! (9&! -*+*'! )+-!
);;&@(*'R! )+-! (97%! $8@'*@&'! )<$B+8&+(! *=! (9&! &+&'B/! <&?&<%4! ! ";&(/<&+&! <$+Q&'%!
!
! LJi!
%9*7<-! )<%*! .&! )?*$-&-R! )%! (9&/! );(! )%! );;&@(*'%! )+-! -$%'7@(! (9&! ;*887+$;)($*+!
.&(T&&+!-*+*'!)+-!);;&@(*'4!
Q:D'-K=KEF'!AEFB=A<GC'
Q:D:9'#_K@E@AGF'!PFC'J<E',EH@GAB'1;<=<><?=@ABC'
! 6A7)')$+&!-/&%!9)?&!%9*T+!%$B+$=$;)+(!@'*8$%&!)%!-*+*'!8)(&'$)<%!$+!*'B)+$;!
@9*(*?*<()$;%4! ! H+(&'&%($+B</R! .*(9! 6AdE""dF! )+-! 6AdE""dDFf! %9*T! %$B+$=$;)+(!
&<&;('*+! 8*.$<$(/4! ! H(! 9)%! .&&+! %9*T+! @'&?$*7%</! (9)(! $+%()<<$+B! =<7*'$+&! )(*8%!
'&%7<(%! $+! )! ;9)+B&! $+! ;9)'B&! ;)''$&'fgdML4! ! H(! $%! +*(! ;<&)'!T9)(! ;)7%&%! (9$%! ;9)+B&4!!
6A7)')$+&! -/&%! ;)+! &)%$</! .&! %/+(9&%$Z&-! T$(9! ?)'$*7%! =<7*'$+&d;*+()$+$+B!
('$)'/<)8$+&%! (*! -&(&'8$+&! T9)(! )==&;(! =<7*'$+&! $%! 9)?$+B! *+! (9&! -/&%4! ! S*(9! (9&!
<*;)($*+! )+-! +78.&'! *=! =<7*'$+&%! %9*7<-! .&! (7+&-! (*! B)$+! $+%$B9(4! ! "--$($*+)<</R!
&<&;('*+! (')+%@*'($+B! %A7)')$+&! -/&%! ;*7<-! @*(&+($)<</! );(! )%! );;&@(*'%! =*'! C,`%4!!
E9$%! ;*7<-! *==&'! )! %$B+$=$;)+(! )-?)+()B&! *?&'! =7<<&'&+&! );;&@(*'%! -7&! (*! (9&!
&+9)+;&-!<$B9(!).%*'.)+;&4!!!
! D'*;*+$78!-/&%!9)?&!.&&+! &Y@<*'&-! &Y(&+%$?&</! $+! (9&! =$&<-! *=! %&+%$+BMJdMM4!!
D'*;*+$;! );$-! $%! )! %('*+B&'! );;&@(*'! (9)+! %A7)'$;! );$-! )+-! (9&'&=*'&! ;*7<-!
@*(&+($)<</! *==&'!8)(&'$)<%!T$(9! &?&+! <*T&'! .)+-B)@%4! ! 68)<<!8*<&;7<&! ;'*;*+$78!
-/&%! 9)?&! ).%*'.)+;&%! (9)(! &Y(&+-! (*! +&)'</! iKK! +84! ! 6*8&! @*</8&'%! .)%&-! *+!
;'*;*+$;! );$-! ;*+-&+%&-! T$(9! ?)'$*7%! &<&;('*+! -*+)($+B! 8*$&($&%! 9)?&! .&&+!
$+?&%($B)(&-R! )+-!)'&! %9*T+!)<*+B!T$(9! (9&$'! ).%*'.)+;&! %@&;(')! $+!F$B7'&!e4L4! ! H(!
;)+!.&!%&&+!(9)(!(9&%&!-/&%!9)?&!%$B+$=$;)+(</!<*T!.)+-B)@%R!8)Q$+B!(9&8!&==$;$&+(!
!
! LfK!
<$B9(!9)'?&%(&'%4!!>+=*'(7+)(&</R!8)(&'$)<%!T$(9!?&'/!%8)<<!.)+-B)@%!*=(&+!%7==&'!<*T!
`CD!*'!&Y;$(*+!-$%%*;$)($*+!-7&!(*!$8@'*@&'</!@<);&-!&+&'B/!<&?&<%4!!
!
Q:D:D'5F=<BP@GAGF'!PFC'J<E',EH@GAB'1;<=<><?=@ABC'
! D/)+$+&! -/&%! 9)?&! .&&+! &Y@<*'&-! =*'! %&?&')<! )@@<$;)($*+%! $+;<7-$+B!
.$*$8)B$+BR! @*<)'$(/! )+-! @G! %&+%*'%! *=! 8$;'*&+?$'*+8&+(%R! )+-! *'B)+$;!
@9*(*?*<()$;%4!!E9&%&!%@&;$=$;!-/&%!T&'&!-&%$B+&-!T$(9!@9*(*?*<()$;!)@@<$;)($*+%!$+!
8$+-4! ! S*(9! =<7*'&+*+&! )+-! ('$)'/<)8$+&%! 9)?&! .&&+! &Y(&+%$?&</! %(7-$&-! $+!
@9*(*?*<()$;%4! ! 6*8&! *=! (9&! -/&%! T$(9! %('*+B&'! );;&@(*'%! %9*T! %$B+$=$;)+(! 9*<&!
8*.$<$(/R!)+-!(9&'&=*'&!=7(7'&!%(7-$&%!T$<<!$+;<7-&!8)Q$+B!)+-!8&)%7'$+B!C,`%!='*8!
(9&%&!-/&%4!
! F7'(9&'!?)'$)($*+!*=! (9&!8*<&;7<)'!%('7;(7'&!;)+! <&)-!(*!)!B'&)(&'!-&B'&&!*=!
).%*'.)+;&!)+-!&+&'B/!<&?&<!(7+$+B4!!E9'*7B9*7(!(9&!%&'$&%!*=!-/&%!'&@*'(&-!$+!(9$%!
;9)@(&'R! (9&! );;&@(*'! %('&+B(9! T)%! ?)'$&-! .7(! (9&! -*+*'! '&8)$+&-! ;*+%$%(&+(!
(9'*7B9*7(! (9&! %(7-/4! ! E7+$+B! (9&! -*+*'! %('&+B(9! ;)+! '&%7<(! $+! (9&! (7+$+B! *=! (9&!
!!
F$B7'&!e4LO!D'*;*+$78!-/&!@*</8&'%!T$(9!@/''*<&!)+-!-$(9$&+*@/''*<&!);;&@(*'%4!!E9&! ).%*'.)+;&! *=! (9&%&! -/&%! )'&! %$B+$=$;)+(</! .'*)-&+&-! )+-! '&-! %9$=(&-!T$(9!).%*'.)+;&%!'&);9$+B!$+(*!(9&!0H14!
!
! LfL!
&+&'B/! <&?&<%! *=! (9&! -/&%R! )<<*T$+B! =*'! *@($8$Z)($*+! *=! <$B9(! 9)'?&%($+B! )+-! C,`!
@)')8&(&'%R!%7;9!)%!&Y;$(*+!-$%%*;$)($*+!)+-!`CD4!!!
Q:D:M'#FGCA=A^FL'7?<Be'0<Y<?PNFEC'J<E',EH@GAB'1;<=<><?=@ABC'
! E9&! -&%$B+! ;'$(&'$)! =*'! #d"! %8)<<! 8*<&;7<&%! )%! %&+%$($Z&'%! =*'! .<*;Q!
;*@*</8&'%! )'&! *7(<$+&-! $+! D9)@(&'! M4! ! E9&%&! ;'$(&'$)! )'&! &Y(&+%$?&! )+-! '&A7$'&!
%$B+$=$;)+(! ;*8@'*8$%&%! (*! (9&! 8*<&;7<)'! -&%$B+! $+! *'-&'! (*! );9$&?&! )@@'*@'$)(&!
&+&'B/!<&?&<!)<$B+8&+(4!!#/&!8*<&;7<&%!8)/!*==&'!)!%$B+$=$;)+(!$8@'*?&8&+(!*?&'!#d
"! %/%(&8%4! !#/&%R! %7;9!)%!SC#H,IR! %9*T! $+(&+%&!).%*'.)+;&%!)(! <*+B!T)?&<&+B(9%!
)+-! &Y9$.$(! .)+-B)@%! <*T&'! (9)+! 8*%(! -*+*'! )+-! );;&@(*'! @*</8&'%! T$(9! +*+d
;*+W7B)(&-!.);Q.*+&%4!!6$B+$=$;)+(!T*'Q!9)!.&&+!-*+&!$+!(9&!E9)/78)+)?)+!B'*7@!
T$(9!SC#H,I!.)%&-!@*</8&'%!)%!T&<<!)%!%8)<<!8*<&;7<&%MeRMg4! !SC#H,I!-/&%!;)+!.&!
=7+;($*+)<$Z&-!$+!.*(9!(9&!.&()d!)+-!8&%*d@*%$($*+%4!!E9&!.&()d@*%$($*+%!;)+!.&!7%&-!
)%!)!%/+(9&($;!9)+-<&!=*'!)(();9$+B!(9&!-*+*'!)+-!);;&@(*'!@*</8&'%!(*!(9&!SC#H,I4!!
E9&!8&%*d@*%$($*+! *=! (9&! SC#H,I! ;)+! .&! 7%&-! =*'! (7+$+B! (9&! &+&'B/! <&?&<%! *=! (9&!
SC#H,I!-/&4!!E9&'&=*'&R!-*+*'!)+-!);;&@(*'!@*</8&'%!;)+!.&!;9*%&+!)+-!(9&!-/&!(*!
;)+!.&!8)+$@7<)(&-!%/+(9&($;)<</!(*!'&%7<(!$+!&+&'B/!<&?&<%!(9)(!)<$B+!T$(9!(9&!;9*%&+!
@*</8&'%4!!"+!&Y)8@<&!*=!%7;9!)%!%/%(&8!;)+!.&!%&&+!$+!F$B7'&!e4J4!
!
! LfJ!
!
Q:M'.FJFEFGBFC'
! [L]! S'&-)%R! X4d54u! 0*'(*+R! X4! 24u! D*'+$<R! X4u! D*'*@;&)+7R! `4! 3*<&;7<)'!>+-&'%()+-$+B! *=! C'B)+$;! 6*<)'! D&<<%O! E9&! D9)<<&+B&%4! ;DD1, -3&41, H&.1! DUUVR! '5R!LgiLdLgii4!
! [J]! S$)+R! 54u! ^97R! 24u! E)+BR! X4u! E)+BR!_4u! ^9)+BR! F4! 1&;&+(! ,'*B'&%%! $+! (9&!#&%$B+!*=!0)''*T!S)+-B)@!D*+W7B)(&-!,*</8&'%! =*'!G$B9d2==$;$&+;/!C'B)+$;!6*<)'!D&<<%4!=%*91,=*+:41,)DE1!DU9DR!(BR!LJiJdLffL4!
! [f]! S').&;R! D4! X4u! 6)'$;$=(;$R!04! 64u!G788&<&+R! X4! D4! ,<)%($;! 6*<)'! D&<<%4!;AC1,M$8D#1,2"#&%1!DUU9R!FFR!LedJg4!
! [M]! D9&+R!X4u!D)*R!I4!#&?&<*@8&+(!*=!0*?&<!D*+W7B)(&-!#*+*'!,*</8&'%!=*'!G$B9d2==$;$&+;/!S7<QdG&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!;DD1,-3&41,H&.1!DUUVR!'5R!LhKidLhLk4!
! [e]! D9&+BR! I4dX4u! I)+BR! 64dG4u! G%7R! D4d64! 6/+(9&%$%! *=! D*+W7B)(&-! ,*</8&'%!=*'!C'B)+$;!6*<)'!D&<<!"@@<$;)($*+%4!-3&41,H&C1!DUUVR!F6KR!ekgkdeiJf4!
! [g]! G*7R!X4u!G7*R!54u!G&R!D4u!I)+BR!D4u!5$R!I4!6/+(9&%$%!)+-!".%*'@($*+!6@&;(')!*=! ,*</[fd[@9&+/<&+&?$+/<](9$*@9&+&]%! T$(9! D*+W7B)(&-! 6$-&! D9)$+%4!2"D%*4*+&D$+&.!DUUQR!(KR!eiMdgKf4!
! [h]! G*7R! X4u! E)+R! ^4! )4u! I)+R! I4u! G&R! I4u! I)+BR! D4u! 5$R! I4! 6/+(9&%$%! )+-!,9*(*?*<()$;! ,'*@&'($&%! *=! ET*d#$8&+%$*+)<! D*+W7B)(&-! ,*</(9$*@9&+&%! T$(9!S$[(9$&+/<&+&?$+/<&+&]!6$-&!D9)$+%4!01,;41,-3&41,)*D1!DUURR!F5/R!MiLLdMiLg4!
! [k]! 5$R!I4u!^*7R!I4!D*+W7B)(&-!,*</8&'!,9*(*?*<()$;!3)(&'$)<%!T$(9!S'*)-!".%*'@($*+! S)+-! )+-! G$B9! D9)'B&! D)''$&'! 3*.$<$(/4! ;AC1, 2"#&%1! DUUWR! 56R! JieJdJiek4!
!!
F$B7'&!e4JO!SC#H,I!-/&!%&+%$($Z&-!.<*;Q!;*@*</8&'4!!!
!
! Lff!
! [i]! G7*R!54u!^9)+BR!64u!:7*R!o4u!o7R!F4u!5$R!I4u!G*7R!X4!1&@<);$+B!"<Q*Y/!:'*7@%!T$(9! "<Q/<(9$&+/<! :'*7@%O! "! F&)%$.<&! "@@'*);9! E*! H8@'*?&! (9&! ,'*@&'($&%! *=!,9*(*?*<()$;!,*</8&'%4!;89&?1,-3&41,@8#1,7A1!DU99R!G6R!igihdihKJ4!
! [LK]! 5$)+BR! I4u! F&+BR! #4u! _7R! I4u! E%)$R! 64dE4u! 5$R! :4u! 1)/R! D4u! I7R! 54! G$B9</!2==$;$&+(!6*<)'!D&<<!,*</8&'%!#&?&<*@&-!?$)!F$+&dE7+$+B!*=!6('7;(7')<!)+-!2<&;('*+$;!,'*@&'($&%4!01,;41,-3&41,)*D1!DUUVR!F(FR!hhiJdhhii4!
! [LL]! ^9)+BR!^4d:4u!_)+BR!X4!6('7;(7'&%!)+-!,'*@&'($&%!*=!D*+W7B)(&-!#*+*'d";;&@(*'! D*@*</8&'%! =*'! 6*<)'! D&<<! "@@<$;)($*+%4! 01, 2"#&%1, -3&41!DU9DR! 55R! MLhkdMLkh4!
! [LJ]! D9$7R! 64d_4u! 5$+R! 54dI4u! 5$+R! G4d_4u! D9&+R! I4dG4u! G7)+BR! ^4dI4u! 5$+R! I4dE4u!5$+R! F4u! 5$7R! I4dG4u! _*+BR! V4dE4! "! #*+*'d";;&@(*'d";;&@(*'! 3*<&;7<&! =*'! `);778d,'*;&%%&-! C'B)+$;! 6*<)'! D&<<%!T$(9! )! ,*T&'! D*+?&'%$*+! 2==$;$&+;/! *=! g4Mt4!-3&41,-*44$81!DU9DR!'/R!LkehdLkei4!
! [Lf]! 5$R!^4u!G&R!:4u!_)+R!o4u!5$7R!I4u!^9*7R!X4u!5*+BR!:4u!^7*R!I4u!^9)+BR!34u!D9&+R!I4!6*<7($*+!,'*;&%%).<&!19*-)+$+&dS)%&-!68)<<!3*<&;7<&!C'B)+$;!,9*(*?*<()$;!D&<<%!T$(9!)!,*T&'!D*+?&'%$*+!2==$;$&+;/!*=!g4Lt4!;AC1,78&%9:,2"#&%1!DU9DR!5R!hMdhh4!
! [LM]! 5$+R!54dI4u!D9&+R!I4dG4u!G7)+BR!^4dI4u!5$+R!G4d_4u!D9*7R!64dG4u!5$+R!F4u!D9&+R!D4d_4u!5$7R!I4dG4u!_*+BR!V4dE4!"!5*Td2+&'B/d:)@!C'B)+$;!#/&!=*'!G$B9d,&'=*'8)+;&!68)<<d3*<&;7<&!C'B)+$;!6*<)'!D&<<%4!01,;41,-3&41,)*D1!DU99R!F((R!LekJJdLekJe4!
! [Le]! 3$%9')R!"4u!S)7&'<&R!,4!68)<<!3*<&;7<&!C'B)+$;!6&8$;*+-7;(*'%!*+!(9&!3*?&O!,'*8$%&%!=*'!F7(7'&!6*<)'!2+&'B/!E&;9+*<*B/4!;89&?1,-3&41,@8#1,7A1!DU9DR!GFR!JKJKdJKgh4!
! [Lg]! ,&78)+%R! ,4u! >;9$-)R! 64u! F*''&%(R! 64! 14! 2==$;$&+(! S7<Q! G&(&'*W7+;($*+!,9*(*?*<()$;!D&<<%!>%$+B!68)<<d3*<&;7<)'d_&$B9(!C'B)+$;!E9$+!F$<8%4!!"#$%&!DUUMR!'5GR!LekdLgJ4!
! [Lh]! 1)+-R!S4!,4u!:&+*&R!X4u!G&'&8)+%R!,4u!,**'(8)+%R!X4!6*<)'!D&<<%!>($<$Z$+B!68)<<!3*<&;7<)'!_&$B9(!C'B)+$;!6&8$;*+-7;(*'%4!=%*91,=3*#*C*+#"ED.!DUUTR!FGR!geidghg4!
! [Lk]! 67+R!I4u!_&<;9R!:4!D4u!5&*+BR!_4!54u!E)Q);%R!D4!X4u!S)Z)+R!:4!D4u!G&&B&'R!"4!X4! 6*<7($*+d,'*;&%%&-! 68)<<d3*<&;7<&! 6*<)'! D&<<%! T$(9! g4ht! 2==$;$&+;/4!!"#1, 2"#&%1!DU9DR!FFR!MMdMk4!
! [Li]! E)+BR! D4! _4! ET*d5)/&'! C'B)+$;! ,9*(*?*<()$;! D&<<4! ;<<+1, =3:.1, >&##1!9VWRR!'/R!LkfdLke4!
! [JK]! D9)+BR! D4dG4u! D9&+R! I4dD4u! G%7R! D4dI4u! D9*7R! G4dG4u! 5$+R! X4! E4! 6A7)')$+&d"'/<)8$+&! 6&+%$($Z&'%! =*'! G$B9</! 2==$;$&+(! @dE/@&! #/&d6&+%$($Z&-! 6*<)'! D&<<%4! O%91,>&##1!DU9DR!F'R!MhJgdMhJi4!
!
! LfM!
! [JL]! D9&+R!:4u!6)%).&R!G4u!_)+BR!^4u!_)+BR!o4dF4u!G*+BR!^4u!I)+BR!I4u!V$-*R! X4!D*d2?)@*')(&-! S7<Q! G&(&'*W7+;($*+! 6*<)'! D&<<%!T$(9! �g4Kt! 2==$;$&+;/4!;AC1,2"#&%1!DU9DR!5'R!JhgkdJhhf4!
! [JJ]! #&$+BR!V4!D4u!3)/&'9*==&'R!>4u!_7'(9+&'R!F4u!3&&'9*<ZR!V4!"BB'&B)($*+d#&@&+-&+(! ,9*(*?*<()$;! ,'*@&'($&%! *=! 6A7)')$+&w,DgLS3! S7<Q! G&(&'*W7+;($*+%4!=3:.1,-3&41,-3&41,=3:.1!DU9DR!F'R!kfJkdkffM4!
! [Jf]! ,)+-&/R! 64! 64u! 3$Z7+*R! E4u! #)%R! 64! V4u! CB*8$R! I4u! G)/)%&R! 64! 6*<7($*+!,'*;&%%).<&!E9$+!F$<8!C'B)+$;!,9*(*?*<()$;!D&<<%!S)%&-!*+!F)'!1&-!6&+%$($?&!6*<7.<&!6A7)')$+&!#/&%4!L3E8,)*+EA,ME+4.!DU9DR!G55R!MKLdMKg4!
! [JM]! _&$R! :4u! o$)*R! o4u! _)+BR! 64u! ^$88&'8)+R! X4! #4u! 67+R! V4u! #$&?R! `4! `4u!E9*8@%*+R! 34! 24u! F*''&%(R! 64! 14! "'/<)8$+&dS)%&-! 6A7)')$+&! #*+*'%! =*'! >%&! $+!C'B)+$;!6*<)'!D&<<%4!!"8*,>&##1!DU99R!FFR!MJgLdMJgM4!
! [Je]! _&$R!:4u!o$)*R!o4u!_)+BR!64u!67+R!V4u!S&'B&8)++R!V4!X4u!E9*8@%*+R!34!24u!F*''&%(R! 64! 14! F7+;($*+)<$Z&-! 6A7)')$+&! #*+*'%! =*'! 0)+*;'/%()<<$+&! C'B)+$;!,9*(*?*<()$;%4!;-),!"8*!DU99R!QR!ihJdihk4!
! [Jg]! o$)*R! o4u! _&$R! :4u! _)+BR! 64u! ^$88&'8)+R! X4! #4u! 1&+%9)TR! D4! V4u!E9*8@%*+R! 34! 24u! F*''&%(R! 64! 14! 68)<<d3*<&;7<&! ,9*(*?*<()$;%! S)%&-! *+!F7+;($*+)<$Z&-!6A7)')$+&!#*+*'!S<&+-%4!;AC1,2"#&%1!DU9DR!5'R!LiegdLigK4!
! [Jh]! S7';Q%(788&'R! G4u! V'*+&+.&'BR! 04! 34u! :%)+B&'R! 34u! 6(*<(&R! 34u!3&&'9*<ZR!V4u!_7'(9+&'R! F4! E)$<*'&-!3&'*;/)+$+&!#/&%! =*'! 6*<7($*+d,'*;&%%&-!SGX!6*<)'!D&<<%4!01,2"#&%1,-3&41!DU9UR!56R!JMKdJMf4!
! [Jk]! S~';Q%(~88&'R! G4u! E7</)Q*?)R! 24! `4u! #&@@$%;9R! 34u! 5&+Z&R! 34! 14u!V'*+&+.&'BR! 04! 34u! :%{+B&'R! 34u! 6(*<(&R! 34u! 3&&'9*<ZR! V4u! _~'(9+&'R! F4! 2==$;$&+(!6*<7($*+d,'*;&%%&-!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%!./!"+($@)')<<&<!67@')8*<&;7<)'!"'')+B&8&+(! *=! #$@*<)'! #*+*'p";;&@(*'! #/&%4! ;89&?1, -3&41, @8#1, 7A1! DU99R! G6R!LLgJkdLLgfJ4!
! [Ji]! D)%('*R!F4!"4u!F)&%R!"4u!:&$B&'R!E4u!:')&==R!D4!F4!C4u!0)B&<R!34u!0~&%;9R!F4u!G)+/R! 14! C+! (9&! >%&! *=! D/)+$+&! #/&%! )%! 5*TdS)+-B)@! 3)(&'$)<%! $+! S7<Q!G&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!):8#31,2!DUURR!FGQR!ihfdihk4!
! [fK]! 3&+BR! F4u! D9&+R! V4u! E$)+R! G4u! ^7@@$'*<$R! 54u! 07&%;9R! F4! D/)+$+&! #/&!";($+B! S*(9! )%! #*+*'! )+-! ";;&@(*'! $+! G&(&'*W7+;($*+! ,9*(*?*<()$;! #&?$;&%4!;<<+1,=3:.1,>&##1!DUUMR!/5R!fhkkdfhiK4!
! [fL]! 6(&$+8)++R!`4u!V'*+&+.&'BR!04!34u!5&+Z&R!34!14u!:')=R!64!34u!G&'(&<R!#4u!3&&'9*<ZR! V4u! S~';Q%(~88&'R! G4u! E7</)Q*?)R! 24! `4u! _~'(9+&'R! F4! 6$8@<&R! G$B9</!2==$;$&+(!`);778d,'*;&%%&-!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%!S)%&-!*+!3&'*;/)+$+&!#/&%4!;AC1,78&%9:,2"#&%1!DU99R!FR!kkkdkif4!
!
! Lfe!
! [fJ]! #)'<$+BR!64!S4!S<*;Q!D*@*</8&'%!=*'!,9*(*?*<()$;%4!78&%9:,78CE%*81,)DE1!DUUVR!5R!LJggdLJhf4!
! [ff]! G)-Z$$*)++*7R! :4! 6&8$;*+-7;($+B! S<*;Q! D*@*</8&'%! =*'! 6&<=d"%%&8.<&-!,9*(*?*<()$;!#&?$;&%4!2H),U$++1!DUUDR!5BR!MegdMgK4!
! [fM]! 6&B)<8)+R! 14! "4u! 3;D7<<*;9R! S4u! V$'8)/&'R! 64u! >'.)+R! X4! X4! S<*;Q!D*@*</8&'%!=*'!C'B)+$;!C@(*&<&;('*+$;%4!2"D%*4*+&D$+&.!DUUVR!'5R!iJKediJLg4!
! [fe]! 6*88&'R! 34u! G7&((+&'R! 64u! E9&<)QQ)(R! 34! #*+*'d";;&@(*'! S<*;Q!D*@*</8&'%!=*'!,9*(*?*<()$;!"@@<$;)($*+%4!01,2"#&%1,-3&41!DU9UR!56R!LKhkkdLKhih4!
! [fg]! F);;9&(($R! "4u!37%9'7%9R!34u! V)(ZR! G4! 24u!3)'Q%R! E4! X4! +dE/@&! S7$<-$+B!S<*;Q%! =*'!C'B)+$;!2<&;('*+$;%O!"!G*8*<*B*7%!F)8$</!*=! F<7*'*;)'.*+d67.%($(7(&-!E9$*@9&+&!C<$B*8&'%!T$(9!G$B9!D)''$&'!3*.$<$(/4!;AC1,2"#&%1!DUUMR!FGR!ffdfk4!
! [fh]! F);;9&(($R!"4u!I**+R!34dG4u!6(&'+R!D4!54u!V)(ZR!G4!24u!3)'Q%R!E4!X4!S7$<-$+B!S<*;Q%! =*'! +dE/@&! C'B)+$;! 2<&;('*+$;%O! 1&B$*;9&8$;)<</! 3*-7<)(&-! H+?&'%$*+! *=!3)W*'$(/! D)''$&'! 6$B+! $+! ,&'=<7*'*)'&+&d3*-$=$&-! ,*</(9$*@9&+&! 6&8$;*+-7;(*'%4!;89&?1,-3&41,@8#1,7A1!DUUMR!'5R!fiKKdfiKf4!
! [fk]! F);;9&(($R! "4u!37%9'7%9R!34u! I**+R!34dG4u!G7(;9$%*+R!:4!14u!1)(+&'R!34!"4u! 3)'Q%R! E4! X4! S7$<-$+B! S<*;Q%! =*'! +dE/@&! 3*<&;7<)'! )+-! ,*</8&'$;! 2<&;('*+$;%4!,&'=<7*'*)<Q/<d! ?&'%7%! "<Q/<dF7+;($*+)<$Z&-! C<$B*(9$*@9&+&%! [+Eu! +! �! J|g]4!6/%(&8)($;%!*=!E9$+!F$<8!3$;'*%('7;(7'&R!6&8$;*+-7;(*'!,&'=*'8)+;&R!)+-!3*-&<$+B!*=!3)W*'$(/!D9)'B&!H+W&;($*+!$+!F$&<-d2==&;(!E')+%$%(*'%4!01,;41,-3&41,)*D1!DUUOR!F5QR!LfkeidLfkhM4!
! [fi]! 1&--/R!X4!64u!V)<&R!E4u!S)<)W$R!:4u!D9)+-')%&Q)')+R!"4u!E9)/78)+)?)+R!64!D/;<*@&+()-$(9$*@9&+&dS)%&-! C'B)+$;! 6&8$;*+-7;(*'%O! 2==&;(! *=! F<7*'$+)(&-!67.%($(7&+(%! *+! 2<&;('*;9&8$;)<! )+-! D9)'B&! E')+%@*'(! ,'*@&'($&%4! 01, =3:.1, -3&41,>&##1!DU99R!5R!gMkdgeM4!
! [MK]! I**+R! 34dG4u! F);;9&(($R! "4u! 6(&'+R! D4! 24u! 3)'Q%R! E4! X4! F<7*'*;)'.*+d3*-$=$&-!C'B)+$;! 6&8$;*+-7;(*'%O�!3*<&;7<)'! "';9$(&;(7'&R! 2<&;('*+$;R! )+-! D'/%()<!6('7;(7'&! E7+$+B! *=! "'&+&d! ?&'%7%! F<7*'*)'&+&dE9$*@9&+&! C<$B*8&'! E9$+dF$<8!,'*@&'($&%4!01,;41,-3&41,)*D1!DUURR!F5/R!ehiJdekKL4!
! [ML]! I**+R!34dG4u!#$S&+&-&((*R!64!"4u!17%%&<<R!34!E4u!F);;9&(($R!"4u!3)'Q%R!E4!X4!G$B9d,&'=*'8)+;&! +dD9)++&<! D)'.*+/<dF7+;($*+)<$Z&-! j7)(&'(9$*@9&+&!6&8$;*+-7;(*'%O�! E9$+dF$<8! E')+%$%(*'! 1&%@*+%&! )+-! 3)W*'$(/! D)''$&'! E/@&!H+?&'%$*+! ?$)! 6$8@<&! D9&8$;)<! ,'*(&;($*+w#&@'*(&;($*+4! -3&41, 2"#&%1! DUUTR! FKR!MkgMdMkkL4!
! [MJ]! G)?$+B)R!24!24u!G*&?&R!_4u!_/+.&'BR!G4!"!0&T!D<)%%!*=!68)<<!S)+-!:)@!C'B)+$;!,*</8&'!D*+-7;(*'%4!=*+:41,U$++1!9VVDR!5KR!LLidLJg4!
!
! Lfg!
! [Mf]! G)?$+B)R!24!24u! (&+!G*&?&R!_4u!_/+.&'BR!G4!"<(&'+)(&!#*+*'d";;&@(*'!68)<<dS)+-d:)@! 6&8$;*+-7;($+B! ,*</8&'%O! ,*</%A7)')$+&%! )+-! ,*</;'*;*+)$+&%4!):8#31,2!9VVMR!GGR!JiidfKg4!
! [MM]! 6*+BR! o4u! F*<&/R! X4!_4!"!0&T!_)(&'d6*<7.<&!0&)'dH+=')'&-!D'*;*+$78!#/&4!R:&.,=E94&8#.!DUUWR!B/R!gKdgM4!
! [Me]! ,*@&'&R! S4! D4u! #&<<)! ,&<<&R! "4! 34u! E9)/78)+)?)+R! 64! SC#H,IdS)%&-!#*+*'d";;&@(*'! rdD*+W7B)(&-! "<(&'+)($+B! D*@*</8&'%4!2"D%*4*+&D$+&.! DU99R! ''R!MhghdMhhg4!!! [Mg]! ,*@&'&R!S4! D4u!#&<<)! ,&<<&R!"4!34u! ,*&R!"4u! S)<)W$R! :4u! E9)/78)+)?)+R! 64!,'&-$;().</!E7+$+B&!F'*+(&$'!3*<&;7<)'!C'.$()<!2+&'B/!5&?&<%!*=!,)+;9'*8)($;!5*T!S)+-! :)@! SC#H,IdS)%&-! D*+W7B)(&-! ,*</8&'%4! -3&41, )DE1! DU9DR! (R! fKifdfLKJ4
!
! Lfh!
(11"&!$f'
"--"0*',-'*$*(&$82',f$!"g1,4)#*)."&"'&(&,0,21,#$*"'!$"4"0*.$0#'
,&'2,.1+,4,%)'(&!'*+$&'-$42'*.(&#$#*,.'1".-,.2(&0"'-,.',.%(&$0'
(&!'1,4)2".$0'#"2$0,&!80*,.#'
(:9'$G=E<LKB=A<G'
! C'B)+$;!(9$+!=$<8!(')+%$%(*'%![CEFE%]!9)?&!'&;&$?&-!87;9!)((&+($*+!*?&'!(9&!
@)%(!(T*!-&;)-&%!-7&!(*!(9&$'!@*(&+($)<!=*'!(9&!=).'$;)($*+!*=!<*T!;*%(!)+-!<)'B&!)'&)!
-&?$;&%LdM4! ! ,&'9)@%! *+&! *=! (9&! 8*'&! &Y;$($+B! )@@<$;)($*+%! *=! CEFE%! $%! $+! (9&!
);9$&?&8&+(! *=! =<&Y$.<&! -&?$;&%4! ! #&%$B+$+B! =<&Y$.<&! CEFE%! $%! +*(! ('$?$)<! )%! (9&%&!
-&?$;&%! ;*+()$+!8)+/!;*8@*+&+(%R!T9$;9!87%(!.&!8)-&! =<&Y$.<&!)+-!*@($8$Z&-! (*!
=7+;($*+!T$(9!(9&!*(9&'!@)'(%!*=!(9&!-&?$;&4!
! 6$B+$=$;)+(!)-?)+;&%!9)?&!.&&+!8)-&!$+!(9&!=$&<-!*=!%&8$;*+-7;(*'%!T$(9!9$B9!
;9)'B&! ;)''$&'! 8*.$<$($&%LRf4! ! C+&! *=! (9&! .*((<&+&;Q%! =*'! (9&! '&)<$Z)($*+! *=! =<&Y$.<&!
-&?$;&%!$%!(9&!<);Q!*=!*@($*+%!=*'!=<&Y$.<&!B)(&!-$&<&;('$;%4!!H+!)--$($*+!(*!=<&Y$.$<$(/R!$(!
$%! )<%*! ;'$($;)<! (9)(! (9&!-$&<&;('$;!8)(&'$)<!9)?&!9$B9! ;)@);$()+;&! (*!@&'8$(! B'&)(&'!
;9)'B&!$+W&;($*+!$+(*!(9&!%&8$;*+-7;(*'!<)/&'e4!!E9$%!T$<<!)<<*T!(9&!-&?$;&!(*!*@&')(&!
)(!<*T&'!B)(&!?*<()B&%R!T9$;9!$%!)-?)+()B&*7%!$=!(9&!-&?$;&!$%!(*!.&!=).'$;)(&-!*+(*!)!
@<)%($;!%7.%(')(&4!!E9&!8*%(!;*88*+</!7%&-!-$&<&;('$;%!)'&!$+*'B)+$;!*Y$-&%R!%7;9!)%!
($()+$78!-$*Y$-&![E$CJ]!)+-!%$<$;*+!-$*Y$-&![6$CJ]4!!"<(9*7B9!(9&%&!-$&<&;('$;%!9)?&!)!
9$B9! ;)@);$()+;&R! (9&/! *=(&+! '&A7$'&! -$==$;7<(! @'*;&%%$+B! (&;9+$A7&%! (9)(! @'&?&+(!
(9&$'!7($<$(/! $+!=<&Y$.<&!-&?$;&%g4! !2)%$</!@'*;&%%).<&!@*</8&'!-$&<&;('$;%!%7==&'!='*8!
<*T! -$&<&;('$;! ;*+%()+(%eRh4! ! 6&?&')<! (&;9+$A7&%! 9)?&! .&&+! 7($<$Z&-! $+! *'-&'! (*!
$+;'&)%&!(9&!;)@);$()+;&!*=!@*</8&'!-$&<&;('$;%R!*=(&+!'&%7<($+B!$+!)!<);Q!*=!=<&Y$.$<$(/!
*=!(9&!'&%7<($+B!=$<8kdLK4!
!
! Lfk!
! E9&! ;*'&d%9&<<! )@@'*);9! )<<*T%! =*'! (9&! ;*8.$+&-! .&+&=$(%! *=! $+*'B)+$;! )+-!
*'B)+$;!-$&<&;('$;%4!!E9&!$+*'B)+$;!*Y$-&!+)+*@)'($;<&!;*'&!$8@)'(%!)!9$B9!-$&<&;('$;!
;*+%()+(! (*! (9&!8)(&'$)<! )+-! (9&! @*</8&'! %9&<<! )<<*T%! =*'! =<&Y$.$<$(/! )+-! %*<7($*+!
@'*;&%%).$<$(/4! ! "%! %&&+! $+! F$B7'&! "4LR! (9&! E$CJ! +)+*'*-! $%! ;*?)<&+(</! )(();9&-! (*!
@*</%(/'&+&! [,6]! ;9)$+%! '&%7<($+B! $+! (9&! E$CJd,6! +)+*;*8@*%$(&LL4! ! E9&%&!
+)+*@)'($;<&%!)'&!8*+*-$%@&'%&!)+)()%&!'*-%!T$(9!)!<&+B(9!*=!JK!+8!)+-!)!-$)8&(&'!
*=!M!+84!!E9&!8*+*-$%@&'%&!@*</%(/'&+&!%9&<<R!T$(9!)!8*<&;7<)'!T&$B9(!*=!kdLK!Q#)R!
$%!)(();9&-!(*!(9&!+)+*'*-!@'&?&+($+B!7+T)+(&-!)BB'&B)($*+!)+-!@9)%&!%&@)')($*+4!!
E9&! &==&;($?&!-$&<&;('$;! ;*+%()+(! *=! (9&!+)+*;*8@*%$(&! $%! k4J4! ! E9&!+)+*;*8@*%$(&!
;)+!.&!.<&+-&-!$+!?)'/$+B!')($*%!T$(9!)!,6!8)('$YR!'&%7<($+B!$+!=$<8%!T$(9!-$&<&;('$;!
;*+%()+(%!.&(T&&+!J4e!)+-!k4JLJR!%9*T+!$+!F$B7'&!"4J4!
! 1&;&+(!%(7-$&%!9)?&!%*7B9(!(*!&Y@<*'&!(9&!'*<<!(9)(!-$&<&;('$;!%('&+B(9!9)%!*+!
(9&!8*.$<$(/!*=!(9&!%&8$;*+-7;(*'!$+!(9$+!=$<8!(')+%$%(*'%4!!6*8&!%(7-$&%!9)?&!%9*T+!
(9)(! (9&! 8*.$<$(/! *=! (9&! (')+%$%(*'! -&;'&)%&-! T$(9! $+;'&)%$+B! -$&<&;('$;!
;*+%()+(eRLfRLM4!!G*T&?&'R!%7'=);&!'*7B9+&%%!)+-!%7'=);&!(&+%$*+!T&'&!+*(!;*+('*<<&-!
!F$B7'&! "4LO! 6;9&8)($;! '&@'&%&+()($*+! *=! (9&! E$CJd,6! +)+*;*8@*%$(&u! ! )]!'&@'&%&+(%! (9&! ;*'&d%9&<<! )@@'*);9! ()Q&+! =*'! =<&Y$.<&! -$&<&;('$;%! T$(9! 9$B9!-$&<&;('$;! ;*+%()+(%u! .]! (9&! @*</%(/'&+&! %9&<<! $%! ;*?)<&+(</! )(();9&-! (*! (9&!E$CJ!+)+*'*-!(9'*7B9!)!<$B)+-!&Y;9)+B&!'&);($*+!.&(T&&+!)!@9*%@9*+)(&!(&'8$+)(&-!@*</8&'!;9)$+!)+-!)!*<&$;!);$-!;*)(&-!+)+*'*-4!
!
! Lfi!
'&%7<($+B!$+!%&?&')<!?)'$)($*+%!(*!(9&!-&?$;&!*(9&'!(9)+!-$&<&;('$;!;*+%()+(4!!"+*(9&'!
%(7-/! %*7B9(! (*! ;*+('*<! %7'=);&! &+&'B/! )+-! =*7+-! (9)(! (9&! 8*.$<$(/! *=! )!
%&8$;*+-7;(*'! $+;'&)%&%!T$(9! $+;'&)%$+B!-$&<&;('$;! %('&+B(9R!.7(!*+</!*?&'!)! %8)<<!
')+B&!*=!-$&<&;('$;!;*+%()+(%Le4!
(:D'.FCK?=C'@GL'!ACBKCCA<G'
(:D:9'"JJFB='<J'!AF?FB=EAB'#=EFGH=;'<G'0EPC=@??AGF'#N@??'2<?FBK?F'
#FNAB<GLKB=<EC'
! >+<$Q&! (9&! @'&?$*7%</! '&@*'(&-! %(7-$&%R! E).<&! "4L! %9*T%! (9)(! (9&! %7'=);&!
'*7B9+&%%! )+-! ;*+();(! )+B<&! '&8)$+! ;*+%()+(! *?&'! (9&! T9*<&! ')+B&! *=! -$&<&;('$;!
;*+%()+(%4! ! E9$%! )<<*T%! =*'! )! 7+$A7&! *@@*'(7+$(/! $+! T9$;9! (9&! &==&;(! *=! -$&<&;('$;!
;*+%()+(! *+! %&8$;*+-7;(*'! 8*.$<$(/! ;)+! .&! %(7-$&-! $+-&@&+-&+(! *=! %7'=);&!
!F$B7'&! "4JO! )]! 6;9&8)($;! '&@'&%&+()($*+! *=! (9&! .<&+-$+B! *=! (9&! E$CJd,6!+)+*;*8@*%$(&! T$(9! (9&! ,6! 8)('$Y! '&%7<($+B! $+! (9&! (7+$+B! *=! (9&! -$&<&;('$;!;*+%()+(! *=! (9&! '&%7<($+B! =$<8u! .]! (9&! -$&<&;('$;! ;*+%()+(! *=! (9&! '&%7<($+B! =$<8%!$+;'&)%&%!T$(9!$+;'&)%$+B!;*+;&+(')($*+!*=!(9&!E$CJd,6!+)+*;*8@*%$(&4!
!
! LMK!
'*7B9+&%%! *'! %7'=);&! (&+%$*+4! ! H(! T)%! @'&?$*7%</! '&@*'(&-! (9)(! @&+();&+&! =$<8%!
&?)@*')(&-! *+(*! (9&! %7'=);&! *=! (9&%&! +)+*;*8@*%$(&! -$&<&;('$;%! -&8*+%(')(&-!
$+;'&)%&-!8*.$<$(/!T$(9!$+;'&)%&-!-$&<&;('$;!;*+%()+(LJR!)%!%&&+!$+!F$B7'&!"4f4!!!H(!T)%!
)<%*! *.%&'?&-! (9)(! (9&! B')$+! %$Z&! *=! (9&! @&+();&+&! =$<8%! -&;'&)%&-! T$(9
!
!E).<&!"4LO!E9&! %7'=);&!'*7B9+&%%!)+-!;*+();(!)+B<&!*=! (9&!+)+*;*8@*%$(&! =$<8%!'&8)$+%!;*+%()+(!);'*%%!(9&!&+($'&!')+B&!*=!.<&+-%!%(7-$&-4!
!!
F$B7'&! "4fO! )]! D9&8$;)<! %('7;(7'&! *=! @&+();&+&R! )! ;'/%()<<$+&! %8)<<! 8*<&;7<&!%&8$;*+-7;(*'u! .]! (9&! 8*.$<$(/! *=! (9&! @&+();&+&! -&?$;&%! $+;'&)%&%! T$(9!$+;'&)%$+B!-$&<&;('$;!;*+%()+(4!!!
!
! LML!
$+;'&)%$+B!-$&<&;('$;!;*+%()+(%R!)%!%&&+!$+!F$B7'&!"4M4!!H(!9)%!@'&?$*7%</!.&&+!%9*T+!
$+!<$(&')(7'&!(9)(!%8)<<&'!B')$+%!$+!@&+();&+&!=$<8%!'&%7<(%!$+!9$B9&'!8*.$<$($&%LgdLk4!!
!
! 6&Y$(9$*@9&+&! [vdgE]R! )+*(9&'! ;'/%()<<$+&! %8)<<! 8*<&;7<&! %&8$;*+-7;(*'R!
*==&'%!)!B'&)(&'!-&B'&&!*=!=<&Y$.$<$(/!*?&'!@&+();&+&!-7&!(*!(9&!%$+B<&!.*+-%!.&(T&&+!
(9$*@9&+&! '$+B%4! ! #&?$;&%! T&'&! =).'$;)(&-! 7%$+B! )! (*@! ;*+();(! .*((*8! B)(&!
;*+=$B7')($*+! *+(*! )+! $+-$78! ($+! *Y$-&! [HEC]! ;*)(&-! B<)%%! %7.%(')(&4! ! E9&! -&?$;&!
)';9$(&;(7'&!)+-!;9&8$;)<!%('7;(7'&!*=!vdgE!;)+!.&!%&&+!$+!F$B7'&!"4e4!!E9&!E$CJd,6!
+)+*;*8@*%$(&!.<&+-%!)'&!%@$+!;*)(&-!*+(*!(9&!HECdB<)%%R!=*<<*T&-!./!&?)@*')($*+!
*=!(9&!vdgE!<)/&'!)+-!%7.%&A7&+(!&?)@*')($*+!*=!B*<-!&<&;('*-&%4!
!F$B7'&!"4MO!"F3!$8)B&%!*=! (9&!@&+();&+&! =$<8%!*+!-$==&'&+(!-$&<&;('$;! =$<8%!T$(9!?)'$*7%!;*+;&+(')($*+!*=!E$CJd,6!+)+*;*8@*%$(&4!!!
!!
F$B7'&!"4eO!)]!D9&8$;)<!%('7;(7'&!*=!%&Y$(9$*@9&+&![vdgE]u!.]!-&?$;&!)';9$(&;(7'&!*=!(9&!(9$+!=$<8!(')+%$%(*'4!!!
!
! LMJ!
! "%! %&&+! $+! F$B7'&! "4gR! (9&! 8*.$<$(/! *=! vdgE! $+;'&)%&%! T$(9! $+;'&)%$+B!
-$&<&;('$;! %('&+B(94! !E9&%&!-&?$;&%!9)?&!)! ;9)'B&!8*.$<$(/! (9)(! $%! ;*8@)').<&!T$(9!
;*+?&+($*+)<! vdgE! -&?$;&%! %7@@*'($+B! (9&! ?)<$-$(/! *=! (9$%! +)+*;*8@*%$(&! .<&+-!
-$&<&;('$;LidJL4!!E9&%&!'&%7<(%!)'&!;*+%$%(&+(!T$(9!(9*%&!*=!(9&!@&+();&+&!-&?$;&%4!!E9&!
8*'@9*<*B/! *=! (9&! vdgE! <)/&'! T)%! -&(&'8$+&-! 7%$+B! )(*8$;! =*';&! 8$;'*%;*@/!
["F3]4! !"%!%&&+!$+!F$B7'&!"4hR! (9&!B')$+!%$Z&!*=! (9&!vdgE!-&;'&)%&%!T$(9! $+;'&)%$+B!
;*+;&+(')($*+%! *=! (9&! +)+*;*8@*%$(&! $+! (9&! @*</%(/'&+&!8)('$Y4! ! E9$%! $%! (9&! %)8&
!
!F$B7'&!"4gO!E9&!8*.$<$(/!*=!(9&!vdgE!-&?$;&%!$+;'&)%&%!T$(9!$+;'&)%$+B!-$&<&;('$;!;*+%()+(4!!
!!
F$B7'&!"4hO!"F3!$8)B&%!*=!(9&!vdgE!=$<8%!*+!-$==&'&+(!-$&<&;('$;!=$<8%!T$(9!?)'$*7%!;*+;&+(')($*+!*=!E$CJd,6!+)+*;*8@*%$(&4!!!
!
! LMf!
('&+-! (9)(!T)%! %&&+! =*'! (9&! @&+();&+&!8*'@9*<*B/! )<(9*7B9! $(! %&&8%! (*! .&!8*'&!
@'*+*7+;&-!$+!(9&!;)%&!*=!vdgE4!!
! H(! )@@&)'%! (9)(! (9&!E$CJd,6!+)+*;*8@*%$(&! $+;'&)%&%! (9&!+7;<&)($*+! ')(&! *=!
(9&!%&8$;*+-7;(*'!T9$<&!(9&!=$<8!$%!=*'8$+BJJRJf4!!E9$%!'&%7<(%!$+!)!<)'B&'!+78.&'!*=!
B')$+%R!T9$;9!)'&! %8)<<&'! $+! %$Z&4! ! H+!)--$($*+! (*! %8)<<&'!B')$+! %$Z&%R!T&<<d*'$&+(&-!
B')$+! .*7+-)'$&%! )<<*T! =*'! )! <)'B&'! +78.&'! *=! <*T! )+B<&! @)(9T)/%! =*'! ;9)'B&!
(')+%@*'(!'&%7<($+B!$+!9$B9&'!&==&;($?&!8*.$<$($&%LgdLkRJMRJe4!
(:D:D'"JJFB='<J'!AF?FB=EAB'#=EFGH=;'<G'#FNABEPC=@??AGF'1<?PNFE'#FNAB<GLKB=<EC'
! E*! &Y@<*'&! (9&!B&+&')<$(/!*=! (9$%!8*.$<$(/! &+9)+;&8&+(! &==&;(R! -&?$;&%!T$(9!
%&8$;'/%()<<$+&! @*</8&'R! @*</[fd9&Y/<(9$*@9&+&]! [,fGE]R! T&'&! =).'$;)(&-4! ! 68)<<!
8*<&;7<&! %&8$;*+-7;(*'%! ;)+! .&! (9&'8)<</! &?)@*')(&-! )<<*T$+B! =*'! &)%/!
&?)@*')($*+! *+(*! )! @*</8&'$;! -$&<&;('$;4! ! ,*</8&'%R! %7;9! )%! ,fGER! ;)++*(! .&!
(9&'8)<</!&?)@*')(&-4!!"--$($*+)<</R!.&;)7%&!(9&!,fGE!<)/&'!$%!.&$+B!-&@*%$(&-!*+(*!
)!@*</8&'$;!-$&<&;('$;R!(')-$($*+)<!%*<7($*+!;)%($+B!(&;9+$A7&%R!%7;9!)%!%@$+!;*)($+BR!
)'&! +*(! =&)%$.<&4! ! "((&8@($+B! (*! %@$+! ;*)(! (9&! ,fGE! =$<8! T*7<-! '&%7<(! $+! )!
;*8@'*8$%&-!-$&<&;('$;! <)/&'!)+-!)!@**'! $+(&'=);&!T$(9! (9&!%&8$;*+-7;(*'4! ! H(!9)%!
.&&+!%9*T+!(9)(!(9&!$+(&'=);&!.&(T&&+!(9&!-$&<&;('$;!)+-!(9&!%&8$;*+-7;(*'!$%!?&'/!
$8@*'()+(! (*! -&?$;&! @&'=*'8)+;&MReRh4! ! E*! ;$';78?&+(! (9&! %*<?&+(! ;*8@)($.$<$(/!
$%%7&JgRJhR! )! =$<8! (')+%=&'! (&;9+$A7&! T)%! &8@<*/&-Jk4! ! "%! %&&+! $+! F$B7'&! "4kR! (9&!
!
! LMM!
-$&<&;('$;! =$<8! T)%! %@$+! ;*)(&-! *+(*! (9&! HECdB<)%%! %7.%(')(&4! ! "! %);'$=$;$)<! <)/&'R!
@*</%(/'&+&%7<=*+)(&!%*-$78!%)<(![,660)]R!T)%!%@$+!;*)(&-!*+(*!)!B<)%%!%<$-&4! !E9$%!
<)/&'!T)%!%@7+!='*8!)+!)A7&*7%!%*<7($*+!)+-!$%!7+)==&;(&-!./!*'B)+$;!%*<?&+(%4! !"!
%*<7($*+! *=! ,fGE! $+! ;9<*'*.&+Z&+&! T)%! (9&+! %@7+! *+(*! (9&! %);'$=$;$)<! <)/&'! )+-!
)++&)<&-! (*! '&8*?&! (9&! '&%$-7)<! *'B)+$;! %*<?&+(4! ! E9&! (T*! %7.%(')(&%! T&'&! (9&+!
%)+-T$;9&-! (*B&(9&'! )+-! T)(&'! T)%! )--&-! (*! %&<&;($?&</! -$%%*<?&! (9&! %);'$=$;$)<!
<)/&'!)<<*T$+B!(9&!,fGE!=$<8!(*!'&<&)%&!)+-!.&!(')+%=&''&-!*+(*!(9&!-$&<&;('$;!=$<84!!
"<78$+78! &<&;('*-&%! T&'&! (9&+! -&@*%$(&-! *+! (9&! %7'=);&! (*! ;*8@<&(&! (9&!
=).'$;)($*+!*=!(9&!(')+%$%(*'%4!
! "%!%&&+! $+!F$B7'&!"4iR! (9&!8*.$<$(/!*=! (9&!%&8$;*+-7;(*'!T)%!7+)==&;(&-!./!
(9&!;*8@*%$($*+!*=! (9&!-$&<&;('$;! <)/&'4! !"--$($*+)<</R! (9&!8*.$<$(/!-$-!+*(! $8@'*?&!
7@*+! )++&)<$+B! *=! (9&! -&?$;&%4! ! #7&! (*! (9&! )++&)<$+B! *=! (9&! ,fGE! =$<8! @'$*'! (*!
(')+%=&'R! (9&! 8*'@9*<*B/! 9)%! .&&+! %&(! @'&?&+($+B! (9&! -$&<&;('$;! 8)(&'$)<! ='*8!
$8@)'($+B!;9)+B&%!$+!(9&!8*'@9*<*B/!(*!(9&!%&8$;*+-7;(*'!=$<84!!"%!%&&+!$+!F$B7'&!
"4LKR!(9&!,fGE!=$<8!%9*T%!(/@$;)<</!B')$+/!=&)(7'&%!@'$*'!(*!(')+%=&'4!!"=(&'!(')+%=&'R!
(9&! =$<8%! )@@&)'! (*! .&! %$B+$=$;)+(</! %8**(9&'4! ! E9$%! $%! 8*%(! <$Q&</! .&;)7%&! )=(&'!
(')+%=&'R!(9&!(*@!*=!(9&!=$<8!$%!(9&!=);&!(9)(!T)%!$+!;*+();(!T$(9!(9&!%);'$=$;$)<!<)/&'4!
!!F$B7'&!"4kO!F$<8!(')+%=&'!8&(9*-!=*'!(9&!=).'$;)($*+!*=!,fGE!(9$+!=$<8!(')+%$%(*'%4!!E9&!=$<8!(')+%=&'!8&(9*-!)<<*T%!=*'!(9&!%*<?&+(!='&&!-&@*%$($*+!*=!(9&!,fGE!=$<8!*+(*!(9&!+)+*;*8@*%$(&!-$&<&;('$;4!!!
!
! LMe!
!!
"=(&'!)++&)<$+BR!(9&'&!)'&!?&'/!%<$B9(!;9)+B&%!(*!(9&!8*'@9*<*B/!*=!(9&!=$<8!.7(!(9&/!
-*! +*(! )@@&)'! (*! .&! %$B+$=$;)+(! &+*7B9! (*! )==&;(! (9&! 8*.$<$(/! *=! (9&! ,fGE! =$<84!
!
!!
F$B7'&!"4iO!E9&!8*.$<$(/!*=! (9&!,fGE!-&?$;&%!*+!-$&<&;('$;! =$<8%!T$(9! $+;'&)%$+B!;*+;&+(')($*+%!*=! E$CJd,6! +)+*;*8@*%$(&! %9*T!+*! ;*+%$%(&+(! ('&+-! $+!8*.$<$(/!.*(9!)]!.&=*'&!)+-!.]!)=(&'!)++&)<$+B4!!!
!!
F$B7'&! "4LKO! "F3! $8)B&%! *=! (9&! ,fGE! =$<8%! *+! -$==&'&+(! -$&<&;('$;! =$<8%! T$(9!?)'$*7%!;*+;&+(')($*+!*=!E$CJd,6!+)+*;*8@*%$(&!.*(9!.&=*'&!)+-!)=(&'!)++&)<$+B4!!!
!
! LMg!
(:M'#KNN@EP'
! E$CJd,6! +)+*;*8@*%$(&! -$&<&;('$;%! *==&'! )! +*?&<! @<)(=*'8! =*'! %(7-/$+B! (9&!
&==&;(! *=! -$&<&;('$;! %('&+B(9! *+! %&8$;*+-7;(*'! 8*.$<$(/! $+-&@&+-&+(! *=! %7'=);&!
'*7B9+&%%!)+-!%7'=);&!&+&'B/4! !E9&!8*.$<$($&%!*=!@&+();&+&R!vdgER!)+-!,fGE!T&'&!
8&)%7'&-! 7%$+B! (*@d;*+();(! .*((*8dB)(&! (9$+! =$<8! (')+%$%(*'%4! ! F*'! (9&! ;'/%()<<$+&!
%8)<<!8*<&;7<&%R!(9&!8*.$<$(/!$+;'&)%&%!T$(9!$+;'&)%$+B!;*+;&+(')($*+%!*=!(9&!E$CJd
,6!+)+*;*8@*%$(&4! ! H+!(9&!;)%&!*=!@&+();&+&R! (9&!8*.$<$(/! $%!LL!($8&%!B'&)(&'!*+!)!
=$<8!*=!LKKt!E$CJd,6!(9)+!=*'!LKKt!,64!!H+!(9&!;)%&!*=!vdgER!(9&!8*.$<$(/!$+;'&)%&-!
./!LLe!($8&%!='*8!LKKt!,6!(*!het!E$CJd,64!!E9$%!$+;'&)%&!$+!8*.$<$(/!$(!)(('$.7(&-!
(*!(9&!%8)<<&'!B')$+!%$Z&%!=*7+-!$+!(9&!%&8$;*+-7;(*'!=$<8%!T9&+!(9&/!)'&!)!=*'8&-!
*+!-$&<&;('$;%!T$(9!9$B9&'!;*+;&+(')($*+%!*=!E$CJd,6!+)+*;*8@*%$(&%4!
(:O'"IYFEANFG=@?'
(:O:9'1EFY@E@=A<G'<J'*A,D/1#h1#'7?FGL'!AF?FB=EABC'
! E$CJp,6w,6!.<&+-&-!-$&<&;('$;%!T&'&!@'&@)'&-!)%!@'&?$*7%</!'&@*'(&-LL4
(:O:D'1EFY@E@=A<G'<J'1FG=@BFGF'@GL'i/R*'!F>ABFC'<G'*A,D/1#h1#'7?FGL'
!AF?FB=EABC'
! ,&+();&+&! -&?$;&%! T&'&! @'&@)'&-! )%! @'&?$*7%</! '&@*'(&-LJ4! ! vdgE! T)%!
-&@*%$(&-!$+!)!8&(9*-!%$8$<)'!(*!(9)(!7%&-!=*'!@&+();&+&4!!E9&!%7.%(')(&!T)%!9&)(&-!
(*!MK! �DR!)+-!vdgE!T)%! (9&'8)<</!&?)@*')(&-!7%$+B!)+!2-T)'-%!"7(*!fKg! (9&'8)<!
&?)@*')(*'4! !gK!+8!*=!vdgE!T)%!-&@*%$(&-!)(!�!K4L!+8w%!)%!8&)%7'&-!./!)!A7)'(Z!
;'/%()<! -&@*%$($*+!8*+$(*'4! 67.%&A7&+(! (*! (9&! -&@*%$($*+! *=! vdgER! B*<-! &<&;('*-&%!
[eK!+8]!T&'&!-&@*%$(&-!)(!)!-&@*%$($*+!')(&!.&<*T!L!�w%4!
!
! LMh!
(:O:M'1EFY@E@=A<G'<J'1M+*'!F>ABFC'<G'*A,D/1#h1#'7?FGL'!AF?FB=EABC'
! ,fGE! =$<8%! T&'&! @'&@)'&-! *+! )! ,660)! %);'$=$;$)<! '&<&)%&! =$<8! *+! )! B<)%%!
%7.%(')(&4!!F$'%(R!)!JKt!,660)!T)(&'!%*<7($*+!T)%!%@$+!;*)(&-!*+(*!)!B<)%%!%7.%(')(&!
)(! MKK! '@8! =*'! fK! %! =*<<*T&-! ./! LKKK! '@8! =*'! fK! %4! ! H88&-$)(&</! =*<<*T$+B! (9&!
-&@*%$($*+!*=!,660)R!)!Le!T(4tw?*<!,fGE!%*<7($*+!$+!;9<*'*.&+Z&+&!T)%!%@7+!*+(*!
(9&!,660)!=$<8!)(!LKKK!'@8!=*'!gK!%4!!E9&!.$<)/&'!=$<8!*+!B<)%%!$%!)++&)<&-!=*'!fK!8$+!
)(!LKK!�D4! ! H+!*'-&'! (*! (')+%=&'! (9&!,fGE!=$<8!(*! (9&!.<&+-&-!-$&<&;('$;%R! (9&!B<)%%d
,660)d,fGE!=$<8!$%!@<);&-!*+!(*@!*=!(9&!.<&+-&-!E$CJp,6w,6!-$&<&;('$;%wHECpB<)%%!
%7.%(')(&4!!"!=&T!-'*@%!*=!T)(&'!)'&!@<);&-!)'*7+-!(9&!&-B&%!*=!(9&!=$<8%!(*!-$%%*<?&!
(9&!%);'$=$;$)<!,660)!=$<84!!"=(&'!L!9R!(9&!(')+%=&'!$%!;*8@<&(&4!!E9&!=$<8%!T&'&!T)%9&-!
T$(9! T)(&'! )+-! (9&! '&%$-7)<! T)(&'! T)%! '&8*?&-! ./! )+! )'B*+! %('&)84! ! E9&! a)%!
(')+%=&''&-b! -&?$;&%! )'&! .'*7B9(! $+(*! (9&! B<*?&! .*Y! =*'! -&?$;&! =).'$;)($*+! ./!
&?)@*')($*+!*=!JKK!+8!(9$;Q!)<78$+78!%*7';&w-')$+!&<&;('*-&!.)'%4!!"!%&;*+-!%&(!*=!
-&?$;&%!T)%!)++&)<&-!$+!)!?);778!*?&+!=*'!fK!8$+!)(!LLK!�D!)+-!(9&+!.'*7B9(!$+(*!
B<*?&!.*Y!=*'!-&?$;&!=).'$;)($*+4!
(:O:O'*-*'2F@CKEFNFG=C'
! E9&!%*7';&d-')$+!;7''&+(![H6#]! $+!(9&!%)(7')($*+!'&B$*+!T)%!8&)%7'&-!7%$+B!
)+! "B$<&+(! MLegD! @'&;$%$*+! %&8$;*+-7;(*'! @)')8&(&'! )+)</Z&'! )+-! %)(7')($*+!
8*.$<$(/!T)%!;)<;7<)(&-!7%$+B!(9&!=*<<*T$+B!&A7)($*+O!
ISD=Z
2LCµ(V
G−V
T)2
H+!(9$%!&A7)($*+R!^!$%!(9&!;9)++&<!T$-(9R!5!$%!(9&!;9)++&<!<&+B(9R!D!$%!(9&!;)@);$()+;&!
@&'!7+$(!)'&)R!�!$%!(9&!8*.$<$(/R!`:!$%!(9&!B)(&!?*<()B&R!)+-!`E!$%!(9&!(9'&%9*<-!?*<()B&4!
!
! LMk!
! D)@);$()+;&!?)<7&%!T&'&!*.()$+&-!='*8!@'$*'!8&)%7'&8&+(%!*=!(9&!&==&;($?&!
-$&<&;('$;! ;*+%()+(! [�&==]! =*'! (9&! .<&+-&-! -$&<&;('$;! =$<8%LJR! =$<8! (9$;Q+&%%!
8&)%7'&8&+(%!7%$+B!)!#&Q()Q!%7'=);&!@'*=$<&'R!)+-!(9&!&A7)($*+!.&<*T![T9&'&!D!$%!
(9&! ;)@);$()+;&! @&'! 7+$(! )'&)R! �*! $%! (9&! @&'8$(($?$(/! *=! ='&&! %@);&R! )+-! -! $%! (9&!
8&)%7'&-!=$<8!(9$;Q+&%%]4!
C =ε0εeff
d!
(:O:Q'(-2'0;@E@B=FEA^@=A<G'
! "F3! ;9)');(&'$Z)($*+! *=! (9&! (9$+! =$<8%! T)%! @&'=*'8&-! 7%$+B! )+! H++*?)!
%;)++$+B! =*';&!8$;'*%;*@&! [`&&;*]! $+! (9&! ()@@$+B!8*-&4! ! E9&! ;)+($<&?&'! [S7-B&(!
6&+%*'%R!E)@LiKd:]!;9)');(&'$%($;%!)'&!)%!=*<<*T%O!=*';&!;*+%()+(!Mk!0w8R!'&%*+)+(!
='&A7&+;/!LiK!QGZR!)+-!($@!')-$7%!;)4!LK!+84!!"+)</%$%!*=!(9&!"F3!$8)B&%![=<)((&+$+BR!
'8%!8&)%7'&8&+(%]!T)%!@&'=*'8&-!T$(9!_6Y3!%*=(T)'&![0)+*(&;!2<&;('*+$;)]Ji4!
(:Q'.FJFEFGBFC'
! [L]! #$8$(')Q*@*7<*%R! D4! #4u! 3)<&+=)+(R! ,4! 14! 54! C'B)+$;! E9$+! F$<8!E')+%$%(*'%!=*'!5)'B&!"'&)!2<&;('*+$;%4!;AC1,2"#&%1!DUUDR!F'R!iidLLh4!
! [J]! F*''&%(R!64!14!E9&!,)(9!(*!>.$A7$(*7%!)+-!5*TdD*%(!C'B)+$;!2<&;('*+$;!"@@<$)+;&%!*+!,<)%($;4!!"#$%&!DUUOR!'5/R!iLLdiLk4!
! [f]! V)(ZR! G4! 24! 1&;&+(! "-?)+;&%! $+! 6&8$;*+-7;(*'! ,&'=*'8)+;&! )+-!,'$+($+B!,'*;&%%&%!=*'!C'B)+$;!E')+%$%(*'dS)%&-!2<&;('*+$;%4!-3&41,2"#&%1!DUUOR!FQR!MhMkdMheg4!
! [M]! 6$''$+B9)7%R! G4! #&?$;&! ,9/%$;%! *=! 6*<7($*+d,'*;&%%&-! C'B)+$;! F$&<-d2==&;(!E')+%$%(*'%4!;AC1,2"#&%1!DUUQR!FBR!JMLLdJMJe4!
! [e]! `&'&%R! X4u!CB$&'R! 64u!5<*/-R!:4u!-&!5&&7TR!#4!:)(&! H+%7<)(*'%! $+!C'B)+$;!F$&<-d2==&;(!E')+%$%(*'%4!-3&41,2"#&%1!DUUOR!FQR!MeMfdMeee4!
!
! LMi!
! [g]! :*9R!:4!V4!54u!#*+(97R!64!V4u!,)<<)(9)-Q)R!,4!V4!D');Q$+B!)+-!C'$&+()($*+!*=!6*<7($*+d#&@*%$(&-!17($<&!E$CJ!F$<8%4!-3&41,2"#&%1!DUUOR!FQR!JkehdJkgL4!
! [h]! F);;9&(($R! "4u! I**+R! 34! G4u! 3)'Q%R! E4! X4! :)(&! #$&<&;('$;%! =*'! C'B)+$;!F$&<-d2==&;(! E')+%$%(*'%O! 0&T! C@@*'(7+$($&%! =*'! C'B)+$;! 2<&;('*+$;%4! ;AC1, 2"#&%1!DUUQR!FBR!LhKedLhJe4!
! [k]! "*Q$R! I4u! V7+$()Q&R! E4! 6*<7($*+dS)%&-! F).'$;)($*+! *=! G$B9d�! :)(&!#$&<&;('$;%!=*'!0&Y(d:&+&')($*+!3&()<dCY$-&!6&8$;*+-7;(*'!E')+%$%(*'%4!;AC1,2"#&%1!DUUOR!FQR!LLkdLJf4!
! [i]! 6;9'*&-&'R! 14u! 3)W&T%Q$R! 54! "4u! :'&<<R! 34! G$B9d,&'=*'8)+;&! C'B)+$;!E')+%$%(*'%! >%$+B! 6*<7($*+d,'*;&%%&-! 0)+*@)'($;<&dF$<<&-! G$B9dQ! ,*</8&'! :)(&!H+%7<)(*'%4!;AC1,2"#&%1!DUUQR!FBR!LefedLefi4!
! [LK]! S)$R!I4u!D9&+BR!^4dI4u!S9)'($R!`4u!o7R!G4!64u!^9)+BR!j4!34!G$B9d#$&<&;('$;dD*+%()+(! D&')8$;d,*T-&'! ,*</8&'! D*8@*%$(&%4! ;<<+1, =3:.1, >&##1! DUUUR! BQR! fkKMdfkKg4!
! [LL]! 3)<$)Q)<R!"4u!V)(ZR!G4u!D*((%R!,4!34u!67.')8*+&/R!64u!3$')7R!,4!H+*'B)+$;!CY$-&! D*'&R! ,*</8&'! 69&<<!0)+*;*8@*%$(&! )%! )!G$B9!V!:)(&!#$&<&;('$;! =*'! F<&Y$.<&!2<&;('*+$;%!"@@<$;)($*+%4!01,;41,-3&41,)*D1!DUUQR!F5BR!LMgeedLMggJ4!
! [LJ]! X7+BR!D4u!3)<$)Q)<R!"4u!6$-*'&+Q*R!"4u!6$&B'$%(R!E4!,&+();&+&dS)%&-!E9$+!F$<8! E')+%$%(*'%! T$(9! E$()+$78! CY$-&d,*</%(/'&+&w,*</%(/'&+&! H+%7<)(*'! S<&+-%O!G$B9!3*.$<$(/!*+!G$B9!V!#$&<&;('$;!F$<8%4!;<<+1,=3:.1,>&##1!DUUTR!K6R!KgJLLLdKgJLLf4!
! [Lf]! `&'&%R! X4u! CB$&'R! 64! #4u! 5&&8$+BR! 64! _4u! D7@&'($+*R! #4! D4u! 3*9$)<-$+!V9)==)=R! 64! 5*TdQ! H+%7<)(*'%! )%! (9&! D9*$;&! *=! #$&<&;('$;%! $+! C'B)+$;! F$&<-d2==&;(!E')+%$%(*'%4!;AC1,M$8D#1,2"#&%1!DUUMR!F(R!LiidJKM4!
! [LM]! ^$&<Q&R!#4u!"'?&-R!D4!G4u!G)9+R!>4u!S')+-(R!04u!S)'(Z%;9R!34u!F7B8)++R!>4u!F$%;9&'R!E4u!`&'&%R! X4u!CB$&'R!64!,*</8&'dS)%&-!C'B)+$;!F$&<-d2==&;(!E')+%$%(*'!>%$+B!C==%&(!,'$+(&-!6*7';&w#')$+!6('7;(7'&%4!;<<+1,=3:.1,>&##1!DUUQR!/BR!LJfeKkdLJfeLK4!
! [Le]! X)+BR! I4u! V$8R! #4! G4u! ,)'QR! I4! #4u! D9*R! X4! G4u! GT)+BR! 34u! V$<T*+R! D4!H+=<7&+;&! *=! (9&! #$&<&;('$;! D*+%()+(! *=! )! ,*</?$+/<! ,9&+*<! H+%7<)(*'! *+! (9&! F$&<-d2==&;(!3*.$<$(/!*=!)!,&+();&+&dS)%&-!E9$+dF$<8!E')+%$%(*'4!;<<+1,=3:.1,>&##1!DUUQR!/BR!LeJLKedLeJLKh4!
! [Lg]! D$;*$')R! F4u! 6)+()(*R!D4u!#$+&<<$R! F4u!37'B$)R!34u! 5*$R!34!"4u!S$%;)'$+$R! F4u!^)8.*+$R! 14u! G&'&8)+%R! ,4u! 37;;$+$R! 34! 3*'@9*<*B/! )+-! F$&<-d2==&;(dE')+%$%(*'!3*.$<$(/!$+!E&(');&+&!E9$+!F$<8%4!;AC1,M$8D#1,2"#&%1!DUUQR!FGR!fhedfkK4!
! [Lh]! 69(&$+R! 34u! 3)@&<R! X4u! S&+Z$B&'R! X4! S4u! F*''&%(R! 64! 14! 2==&;(%! *=! F$<8!3*'@9*<*B/!)+-!:)(&!#$&<&;('$;!67'=);&!,'&@)')($*+!*+!(9&!2<&;('$;)<!D9)');(&'$%($;%!
!
! LeK!
*=!C'B)+$;d`)@*'d,9)%&d#&@*%$(&-!,&+();&+&!E9$+dF$<8!E')+%$%(*'%4!;<<+1,=3:.1,>&##1!DUUDR!/FR!JgkdJhK4!
! [Lk]! I)+BR! 64! I4u! 69$+R! V4u! ,)'QR! D4! 24! E9&! 2==&;(! *=! :)(&d#$&<&;('$;! 67'=);&!2+&'B/! *+! ,&+();&+&! 3*'@9*<*B/! )+-! C'B)+$;! F$&<-d2==&;(! E')+%$%(*'!D9)');(&'$%($;%4!;AC1,M$8D#1,2"#&%1!DUUQR!FGR!LkKgdLkLM4!
! [Li]! :)'+$&'R!F4u!I)%%)'R!"4u!G)W<)*7$R!14u!G*'*T$(ZR!:4u!#&<*=='&R!F4u!6&'?&(R!S4u!1$&%R!64u!"<+*(R!,4!3*<&;7<)'!2+B$+&&'$+B!*=!C'B)+$;!6&8$;*+-7;(*'%O!#&%$B+!*=!6&<=d"%%&8.</! ,'*@&'($&%! $+! D*+W7B)(&-! E9$*@9&+&!C<$B*8&'%4! 01, ;41, -3&41, )*D1!9VVMR!FFGR!khLgdkhJL4!
! [JK]! G*'*T$(ZR! :4u! G)W<)*7$R! 34! 24u! G)W<)*7$R! 14! E&8@&')(7'&! )+-! :)(&!`*<()B&! #&@&+-&+;&! *=! G*<&!3*.$<$(/! $+! ,*</;'/%()<<$+&! C<$B*(9$*@9&+&! E9$+! F$<8!E')+%$%(*'%4!01,;<<+1,=3:.1!DUUUR!/BR!MMegdMMgf4!
! [JL]! 6&'?&(R! S4u! G*'*T$(ZR! :4u! 1$&%R! 64u! 5)B*'%%&R! C4u! "<+*(R! ,4u! I)%%)'R! "4u!#&<*=='&R! F4u! 6'$?)%()?)R! ,4u! G)W<)*7$R! 14! ,*</8*'@9$%8! )+-! D9)'B&! E')+%@*'(! $+!`);778d2?)@*')(&-!6&Y$(9$*@9&+&!F$<8%4!-3&41,2"#&%1!9VVOR!QR!LkKidLkLe4!
! [JJ]! 17$ZR!14u!D9*7-9)'/R!#4u!0$;Q&<R!S4u!E*;;*<$R!E4u!D9)+BR!V4dD4u!3)/&'R!"4!D4u! D<)+;/R!,4u!S<)Q&</R! X4!34u!G&)-'$;QR!14! 54u! H)++*(()R! 64u!3)<<$)')%R!:4!:4!,&+();&+&!E9$+!F$<8!:'*T(94!-3&41,2"#&%1!DUUOR!FQR!MMihdMeKk4!
! [Jf]! G&'$+B-*'=R!F4!34! Z4u!1&7(&'R!34!D4u!E'*8@R!14!34!:'*T(9!#/+)8$;%!*=!,&+();&+&!E9$+!F$<8%4!!"#$%&!DUU9R!'F5R!eLhdeJK4!
! [JM]! V<$+&R! 14! X4u!3;:&9&&R!34! #4u! V)-+$Q*?)R! 24! 04u! 5$7R! X4u! F'�;9&(R! X4!34! X4!D*+('*<<$+B!(9&!F$&<-d2==&;(!3*.$<$(/!*=!1&B$*'&B7<)'!,*</(9$*@9&+&!./!D9)+B$+B!(9&!3*<&;7<)'!_&$B9(4!;AC1,2"#&%1!DUUMR!FGR!LeLidLeJJ4!
! [Je]! 6('&&(R! 14! "4u! 0*'(9'7@R! X4! 24u! 6)<<&*R! "4! E')+%@*'(! $+! ,*</;'/%()<<$+&!,*</8&'!E9$+dF$<8!E')+%$%(*'%4!=3:.1,H&C1,U!DUUQR!BFR!LgeJKJdLgeJLM4!
! [Jg]! ,)'QR! X4u! 69$8R! 64dC4u! G*+BR! G4! 54! ,*</8&'! E9$+dF$<8! E')+%$%(*'%!F).'$;)(&-! ./! #'/! E')+%=&'! *=! ,*</8&'! 6&8$;*+-7;(*'4!;<<1, =3:.1, >&##1!DUUQR! /QR!KhfeKedKhfeKh4!
! [Jh]! I)+BR! F4! I4u! G%7R!34! I4u! GT)+BR! :4!_4u! D9)+BR! V4! X4! G$B9d,&'=*'8)+;&!@*</[fd9&Y/<(9$*@9&+&]! E*@d:)(&! E')+%$%(*'%! H+;*'@*')($+B! E$CJ! 0)+*;*8@*%$(&!#$&<&;('$;%4!O%91,7+&D#%*81!DU9UR!FFR!kLdkk4!
! [Jk]! _&$R! j4u! E)W$8)R! V4u! G)%9$8*(*R! V4! S$<)/&'! "8.$@*<)'! C'B)+$;! E9$+dF$<8!E')+%$%(*'%!)+-!H+?&'(&'%!,'&@)'&-!./!(9&!D*+();(dF$<8dE')+%=&'!3&(9*-4!;-),;<<+1,2"#&%1,@8#&%P"D&.!DUUVR!FR!LkgedLkgk4!
!
! LeL!
! [Ji]! G*';)%R!H4u!F&'+)+-&ZR!14u!:*8&Zd1*-'$B7&ZR!X4!34u!D*<;9&'*R!X4u!:*8&ZdG&''&'*R!X4u!S)'*R!"4!34!_6o3O!"!6*=(T)'&!=*'!6;)++$+B!,'*.&!3$;'*%;*@/!)+-!)!E**<!=*'!0)+*(&;9+*<*B/4!H&C1,)DE1,@8.#%$41!DUUTR!B/R!KLfhKedKLfhLJ4!
!!
!!!
!
!!
!
!
! LeJ!
7$74$,%.(1+)'
"+-'&7R!14u!D)'')%A7&'R!54u!:)'�+R!X4u!3*-'&B*R!34!X4u!C'-7+)R!X4u!"<$;)+(&R!14u!`$<<);)8@)R!S4u!"<<)$+R!34!0&T!C+&d!)+-!ET*d#$8&+%$*+)<!MGd,/')+/<$-&+&!05Cd,9*'&%4!L&#%"3&A%*8,>&##1!DUUVR!G6R!JiJKdJiJM4!
"*Q$R!I4u!V7+$()Q&R!E4!6*<7($*+dS)%&-!F).'$;)($*+!*=!G$B9d�!:)(&!#$&<&;('$;%!=*'!0&Y(d:&+&')($*+!3&()<dCY$-&!6&8$;*+-7;(*'!E')+%$%(*'%4!;AC1,2"#&%1!DUUOR!FQR!LLkdLJf4!
"'$)%R!"4!D4u!3);V&+Z$&R!X4!#4u!6(&?&+%*+R!14u!G)<<%R!X4!X4!34u!H+.)%&Q)')+R!34u!_**R!24!,4u!1$;9)'-%R!#4u!F'$&+-R!14!G4!,9*(*?*<()$;!,&'=*'8)+;&!)+-!3*'@9*<*B/!*=!,*</=<7*'&+&!S<&+-%O�!"!D*8.$+&-!3$;'*%;*@$;!)+-!,9*(*?*<()$;!H+?&%($B)($*+4!2"D%*4*+&D$+&.!DUU9R!('R!gKKedgKLf4!
"'$)%R!"4!D4u!D*';*')+R!04u!S)+);9R!34u!F'$&+-R!14!G4u!3);V&+Z$&R!X4!#4u!G7;QR!_4!E4!64!`&'($;)<</!6&B'&B)(&-!,*</8&'dS<&+-!,9*(*?*<()$;!E9$+dF$<8!6('7;(7'&%!E9'*7B9!67'=);&d3&-$)(&-!6*<7($*+!,'*;&%%$+B4!;<<+1,=3:.1,>&##1!DUUDR!/6R!LgiedLgih4!
S)$R!I4u!D9&+BR!^4dI4u!S9)'($R!`4u!o7R!G4!64u!^9)+BR!j4!34!G$B9d#$&<&;('$;dD*+%()+(!D&')8$;d,*T-&'!,*</8&'!D*8@*%$(&%4!;<<+1,=3:.1,>&##1!DUUUR!BQR!fkKMdfkKg4!
S)'+).)%R!34!`4u!5$7R!"4!#4u!E'$=7+);R!"4!#4u!V'*+B)7ZR!`4!`4u!D9)+BR!D4!E4!6*<?&+(!2==&;(%!*+!(9&!,9*(*;9&8$%('/!*=!)!V&(*;/)+$+&!#/&!)+-!$(%!F7+;($*+)<!"+)<*B4!3$;9<&'m%!V&(*+&4!01,=3:.1,-3&41!9VVDR!KQR!JLJdJLh4!
S)(&%R!F4u!F'&-'$;Q%*+R!:4!S<*;Q!D*@*</8&'%d#&%$B+&'!6*=(!3)(&'$)<%4!=3:.1,L*A":!9VVVR!G5R!fJdfk4!
S&)7W7B&R!,4!34u!F'&;9&(R!X4!34!X4!3*<&;7<)'!#&%$B+!)+-!C'-&'$+B!2==&;(%!$+!@$dF7+;($*+)<!3)(&'$)<%!=*'!E')+%$%(*'!)+-!6*<)'!D&<<!"@@<$;)($*+%4!01,;41,-3&41,)*D1!DU99R!F((R!JKKKidJKKJi4!
S&;A7&'&<R!"4!24!3&8*$'&!%7'!<&%!2==&;(%!2<&;('$A7&%!,'*-7$(%!%*7%!5m$+=<7&+&!-&%!1)/*+%!6*<)$'&%4!-1,H1,I&JA1,)&"8D&.,;D"A1,)DE1!9WMVR!KR!egLdegh4!
S&+)+($R!E4!54u!`&+Q)()')8)+R!#4!C'B)+$;!6*<)'!D&<<%O!"+!C?&'?$&T!F*;7%$+B!*+!";($?&!5)/&'!3*'@9*<*B/4!=3*#*.:81,H&.1!DUURR!/BR!hfdkL4!
S&'(9*R!64u!G)&<-&'8)+%R!H4u!6T$++&+R!"4u!3**+%R!_4u!3)'(&+%R!E4u!57(%&+R!54u!`)+-&'Z)+-&R!#4u!3)+;)R!X4u!6&+&%R!"4u!S*+=$B<$*R!"4!H+=<7&+;&!*=!E9&'8)<!"B&$+B!*+!(9&!6().$<$(/!*=!,*</8&'!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%4!)*+1,78&%9:,2"#&%1,)*+1,-&++.!DUUTR!KFR!fkedfki4!
S&?&'$+)R!54u!6)<$;&R!,4!6A7)')$+&!D*8@*7+-%O!E)$<*'&-!#&%$B+!)+-!6/+(9&%$%!E*T)'-%!)!`)'$&(/!*=!3)(&'$)<!6;$&+;&!"@@<$;)($*+%4!7$%1,01,O%91,-3&41!DU9UR!56F6R!LJKhdLJJe4!
!
! Lef!
S$)+R!54u!^97R!24u!E)+BR!X4u!E)+BR!_4u!^9)+BR!F4!1&;&+(!,'*B'&%%!$+!(9&!#&%$B+!*=!0)''*T!S)+-B)@!D*+W7B)(&-!,*</8&'%!=*'!G$B9d2==$;$&+;/!C'B)+$;!6*<)'!D&<<%4!=%*91,=*+:41,)DE1!DU9DR!(BR!LJiJdLffL4!
S<*8R!,4!_4!34u!3$9)$<&(;9$R!`4!#4u!V*%(&'R!54!X4!"4u!3)'Q*?R!#4!24!#&?$;&!,9/%$;%!*=!,*</8&'OF7<<&'&+&!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%4!;AC1,2"#&%1!DUUTR!FKR!LeeLdLegg4!
S<*7$+R!04u!3$;9)7-R!"4u!:&+-'*+R!#4u!_)Q$8R!64u!S<)$'R!24u!0&)B7d,<&%7R!14u!S&<<&(�(&R!34u!#7'*;9&'R!:4u!E)*R!I4u!5&;<&';R!34!E*T)'-!)!1)($*+)<!#&%$B+!*=!,*</[JRhdD)'.)Z*<&]!#&'$?)($?&%!=*'!6*<)'!D&<<%4!01,;41,-3&41,)*D1!DUUTR!F(6R!hfJdhMJ4!
S').&;R!D4!X4u!6)'$;$=(;$R!04!64u!G788&<&+R!X4!D4!,<)%($;!6*<)'!D&<<%4!;AC1,M$8D#1,2"#&%1!DUU9R!FFR!LedJg4!
S')7+&;Q&'R!_4!"4u!C*%(&'9*7(R!64!#4u!CT;Z)';Z/QR!^4!14u!5)'%&+R!14!24u!5)'%*+R!S4!_4u!:$+<&/R!#4!64u!S*<()<$+)R!C4!`4u!6(')7%%R!64!G4u!V*@$-)Q$%R!04u!C<%*+R!#4!D4!2(9/+/<&+&d5$+Q&-!#*+*'p";;&@(*'!"<(&'+)($+B!D*@*</8&'%4!2"D%*4*+&D$+&.!DU9MR!'QR!ffghdffhe4!
S'&-)%R!X4d54u!0*'(*+R!X4!24u!D*'+$<R!X4u!D*'*@;&)+7R!`4!3*<&;7<)'!>+-&'%()+-$+B!*=!C'B)+$;!6*<)'!D&<<%O!E9&!D9)<<&+B&%4!;DD1,-3&41,H&.1!DUUVR!'5R!LgiLdLgii4!
S'**Q&'R!54!:4!64u!V&/&%R!:4!G4u!G&%&<($+&R!#4!_4!D*<*'!)+-!D*+%($(7($*+O!"+9/-'*+$78!S)%&%!*=!@dG/-'*Y/%(/'/<!#/&%!)%!6*<?&+(!,*<)'$(/!H+-$;)(*'%4!01,;41,-3&41,)*D1!9VQ9R!B(R!efeKdefeg4!
S'**Q&'R!54!:4!64u!V&/&%R!:4!G4u!6@')B7&R!14!G4u!`)+#/Q&R!14!G4u!`)+5)'&R!24u!`)+^)+-(R!:4u!_9$(&R!F4!54u!D'&%%8)+R!G4!_4!X4u!#&+(R!64!:4!D*<*'!)+-!D*+%($(7($*+O!".%*'@($*+!*=!(9&!3&'*;/)+$+&%4!01,;41,-3&41,)*D1!9VQ9R!B(R!effJdefeK4!
S7+-B))'-R!24u!V'&.%R!F4!D4!5*T!S)+-!:)@!,*</8&'%!=*'!C'B)+$;!,9*(*?*<()$;%4!)*+1,78&%9:,2"#&%1,)*+1,-&++.!DUUTR!KFR!ieMdike4!
S7';Q%(788&'R!G4u!V'*+&+.&'BR!04!34u!:%)+B&'R!34u!6(*<(&R!34u!3&&'9*<ZR!V4u!_7'(9+&'R!F4!E)$<*'&-!3&'*;/)+$+&!#/&%!=*'!6*<7($*+d,'*;&%%&-!SGX!6*<)'!D&<<%4!01,2"#&%1,-3&41!DU9UR!56R!JMKdJMf4!
S~';Q%(~88&'R!G4u!E7</)Q*?)R!24!`4u!#&@@$%;9R!34u!5&+Z&R!34!14u!V'*+&+.&'BR!04!34u!:%{+B&'R!34u!6(*<(&R!34u!3&&'9*<ZR!V4u!_~'(9+&'R!F4!2==$;$&+(!6*<7($*+d,'*;&%%&-!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%!./!"+($@)')<<&<!67@')8*<&;7<)'!"'')+B&8&+(!*=!#$@*<)'!#*+*'p";;&@(*'!#/&%4!;89&?1,-3&41,@8#1,7A1!DU99R!G6R!LLgJkdLLgfJ4!
D)%('*R!F4!"4u!F)&%R!"4u!:&$B&'R!E4u!:')&==R!D4!F4!C4u!0)B&<R!34u!0~&%;9R!F4u!G)+/R!14!C+!(9&!>%&!*=!D/)+$+&!#/&%!)%!5*TdS)+-B)@!3)(&'$)<%!$+!S7<Q!G&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!):8#31,2!DUURR!FGQR!ihfdihk4!
!
! LeM!
D9)8.&'<)$+R!:4!"4!C'B)+$;!6*<)'!D&<<%O!"!1&?$&T4!)*+"%,-&++.!9VWMR!/R!Mhdkf4!
D9)+BR!D4dG4u!D9&+R!I4dD4u!G%7R!D4dI4u!D9*7R!G4dG4u!5$+R!X4!E4!6A7)')$+&d"'/<)8$+&!6&+%$($Z&'%!=*'!G$B9</!2==$;$&+(!@dE/@&!#/&d6&+%$($Z&-!6*<)'!D&<<%4!O%91,>&##1!DU9DR!F'R!MhJgdMhJi4!
D9)@$+R!#4!34u!F7<<&'R!D4!64u!,&)'%*+R!:4!54!"!0&T!6$<$;*+!@d+!X7+;($*+!,9*(*;&<<!=*'!D*+?&'($+B!6*<)'!1)-$)($*+!$+(*!2<&;('$;)<!,*T&'4!01,;<<+1,=3:.1!9VQOR!5GR!ghgdghh4!
D9&+R!:4u!6)%).&R!G4u!_)+BR!^4u!_)+BR!o4dF4u!G*+BR!^4u!I)+BR!I4u!V$-*R!X4!D*d2?)@*')(&-!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%!T$(9!�g4Kt!2==$;$&+;/4!;AC1,2"#&%1!DU9DR!5'R!JhgkdJhhf4!
D9&+R!G4dI4u!G*7R!X4u!^9)+BR!64u!5$)+BR!I4u!I)+BR!:4u!I)+BR!I4u!I7R!54u!_7R!I4u!5$R!:4!,*</8&'!6*<)'!D&<<%!T$(9!2+9)+;&-!C@&+dD$';7$(!`*<()B&!)+-!2==$;$&+;/4!!"#1,=3*#*81!DUUVR!(R!gMidgef4!
D9&+R!X4!6(7-/!*=!6&<=d"%%&8.</!*=!6/88&('$;!D*$<d1*-dD*$<!"S"dE/@&!E'$.<*;Q!D*@*</8&'%!./!6&<=dD*+%$%(&+(!F$&<-!5)(($;&!3&(9*-4!01,-3&41,=3:.1!DUUTR!F5BR!KJMLKedKJMLKLdKJMLKedKJMLKe4!
D9&+R!X4u!D)*R!I4!#&?&<*@8&+(!*=!0*?&<!D*+W7B)(&-!#*+*'!,*</8&'%!=*'!G$B9d2==$;$&+;/!S7<QdG&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!;DD1,-3&41,H&.1!DUUVR!'5R!LhKidLhLk4!
D9&+R!X4!E4u!E9*8)%R!24!54u!C.&'R!D4!V4u!GT)+BR!64!64!^$BZ)B!3*'@9*<*B/!*=!)!,*</[%(/'&+&d.d9&Y/<!$%*;/)+)(&]!1*-dD*$<!S<*;Q!D*@*</8&'4!2"D%*4*+&D$+&.!9VVQR!5/R!LgkkdLgih4!
D9&+BR!I4dX4u!I)+BR!64dG4u!G%7R!D4d64!6/+(9&%$%!*=!D*+W7B)(&-!,*</8&'%!=*'!C'B)+$;!6*<)'!D&<<!"@@<$;)($*+%4!-3&41,H&C1!DUUVR!F6KR!ekgkdeiJf4!
D9$7R!64d_4u!5$+R!54dI4u!5$+R!G4d_4u!D9&+R!I4dG4u!G7)+BR!^4dI4u!5$+R!I4dE4u!5$+R!F4u!5$7R!I4dG4u!_*+BR!V4dE4!"!#*+*'d";;&@(*'d";;&@(*'!3*<&;7<&!=*'!`);778d,'*;&%%&-!C'B)+$;!6*<)'!D&<<%!T$(9!)!,*T&'!D*+?&'%$*+!2==$;$&+;/!*=!g4Mt4!-3&41,-*44$81!DU9DR!'/R!LkehdLkei4!
D$)%R!,4u!6<7B*?;R!D4u!:&%;9&$-(R!:4!G*<&!E')+%@*'(!$+!E'$@9&+/<)8$+&!S)%&-!C52#!#&?$;&%O!F'*8!E9&*'&($;)<!3*-&<$+B!(*!,'*@&'($&%!,'&-$;($*+4!01,=3:.1,-3&41,;!DU99R!FFGR!LMeLidLMeJe4!
D$;*$')R!F4u!6)+()(*R!D4u!#$+&<<$R!F4u!37'B$)R!34u!5*$R!34!"4u!S$%;)'$+$R!F4u!^)8.*+$R!14u!G&'&8)+%R!,4u!37;;$+$R!34!3*'@9*<*B/!)+-!F$&<-d2==&;(dE')+%$%(*'!3*.$<$(/!$+!E&(');&+&!E9$+!F$<8%4!;AC1,M$8D#1,2"#&%1!DUUQR!FGR!fhedfkK4!
D$((&'$*R!#4u!V)T)-)R!E4u!I)B$R!X4u!H%9$B)Q$R!E4u!G$%)8*(*R!G4u!6)%)Q$R!64d$4u!67Z7Q$R!V4!3*<&;7<)'!#&%$B+R!D9)');(&'$Z)($*+R!)+-!"@@<$;)($*+!*=!37<($$+=*'8)($*+!#/&%!=*'!
!
! Lee!
C@($;)<!D9&8$;)<!6&+%$+BO!H`4!37<($$+=*'8)($*+!#/&%!T$(9!2Y(&+-&-!6@&;(')<!6&+%$($?$(/!$+!(9&!0&)'dH+=')'&-!6@&;(')<!1)+B&4!;8"+1,-3E41,;D#"!DUUMR!'/5R!LidJk4!
D$((&'$*R!#4u!C8)B)'$R!34u!V)T)-)R!E4u!6)%)Q$R!64d$4u!67Z7Q$R!I4u!67Z7Q$R!V4!D9'*8*B&+$;!S&()$+&!5)'$)(&%!=*'!G$B9</!6&<&;($?&!D)<;$78!H*+!6&+%$+B!$+!"A7&*7%!2+?$'*+8&+(4!;8"+1,-3E41,;D#"!DUUOR!G6'R!JJhdJfM4!
D')?$+*R!"4u!6)'$;$=(;$R!04!64!#*7.<&dD).<&!,*</8&'%!=*'!F7<<&'&+&!S)%&-!C'B)+$;!C@(*&<&;('*+$;!"@@<$;)($*+%4!01,2"#&%1,-3&41!DUUDR!F5R!LifLdLiMf4!
#)'<$+BR!64!S4!S<*;Q!D*@*</8&'%!=*'!,9*(*?*<()$;%4!78&%9:,78CE%*81,)DE1!DUUVR!5R!LJggdLJhf4!
#)%R!34u!6)'-)'R!64!V4u!S)B;9$R!64!2<&;('*+$;!6@&;(')!)+-![G/@&'],*<)'$Z).$<$($&%!*=!V&(*;/)+$+&!#/&!D*8@<&Y&%!T$(9!3&()<!H*+%4!01,2*+1,)#%$D#1!DU9MR!F6((R!JfgdJMJ4!
#&$+BR!V4!D4u!3)/&'9*==&'R!>4u!_7'(9+&'R!F4u!3&&'9*<ZR!V4!"BB'&B)($*+d#&@&+-&+(!,9*(*?*<()$;!,'*@&'($&%!*=!6A7)')$+&w,DgLS3!S7<Q!G&(&'*W7+;($*+%4!=3:.1,-3&41,-3&41,=3:.1!DU9DR!F'R!kfJkdkffM4!
#&<;)8@R!X4!G4u!69$R!I4u!I78R!X4dG4u!6)W*(*R!E4u!#&<<mC'(*R!24u!S)'<*TR!64u!0)Z&&'7--$+R!34!V4u!3)'-&'R!64!14u!:'{(Z&<R!34!E9&!1*<&!*=!r!S'$-B&%!$+!G$B9d2==$;$&+;/!#6D%!S)%&-!*+!>+%/88&('$;)<!6A7)')$+&%4!-3&41,7$%1,01!DU9MR!FKR!LkLidLkJh4!
#$8$(')Q*@*7<*%R!D4!#4u!3)<&+=)+(R!,4!14!54!C'B)+$;!E9$+!F$<8!E')+%$%(*'%!=*'!5)'B&!"'&)!2<&;('*+$;%4!;AC1,2"#&%1!DUUDR!F'R!iidLLh4!
#*'*%9&+Q*R!"4!C4u!,$?*?)'&+Q*R!`4!:4!F<7*'&%;&+;&!j7&+;9$+B!*=!(9&!V&(*;/)+$+&!#/&%!$+!,*<)'!6*<?&+(%O!"+($dEHDE!S&9)?$*'4!01,=3*#*D3&41,=3*#*JE*+1,;!DUUMR!FGQR!eedgM4!
#*'*%9&+Q*R!"4!C4u!S$<*Q$+R!34!#4u!,$?*?)'&+Q*R!`4!:4!0&T!F<7*'&%;&+(!#/&!*=!#$.&+Z)<;/;<*@&+()+*+&!6&'$&%!,*%%&%%$+B!H+;'&)%&-!6*<?)(*;9'*8$%8!)+-!a2+&'B/!:)@!5)Tb!1&B7<)(&-!F<7*'&%;&+;&!j7&+;9$+B!$+!,*<)'!6*<?&+(%4!01,=3*#*D3&41,=3*#*JE*+1,;!DUUOR!FQ(R!iedLKJ4!
#'78R!E4!C4O!6*<)'!H+(&+%$(/!)(!6&)!5&?&<!./!_)?&<&+B(94!9((@OwwTTT4(9&*$<-'784;*8w+*-&wMigMR!2-4R!JKKi4!
F);;9&(($R!"4u!37%9'7%9R!34u!V)(ZR!G4!24u!3)'Q%R!E4!X4!+dE/@&!S7$<-$+B!S<*;Q%!=*'!C'B)+$;!2<&;('*+$;%O!"!G*8*<*B*7%!F)8$</!*=!F<7*'*;)'.*+d67.%($(7(&-!E9$*@9&+&!C<$B*8&'%!T$(9!G$B9!D)''$&'!3*.$<$(/4!;AC1,2"#&%1!DUUMR!FGR!ffdfk4!
F);;9&(($R!"4u!I**+R!34dG4u!6(&'+R!D4!54u!V)(ZR!G4!24u!3)'Q%R!E4!X4!S7$<-$+B!S<*;Q%!=*'!+dE/@&!C'B)+$;!2<&;('*+$;%O!1&B$*;9&8$;)<</!3*-7<)(&-!H+?&'%$*+!*=!3)W*'$(/!D)''$&'!6$B+!$+!,&'=<7*'*)'&+&d3*-$=$&-!,*</(9$*@9&+&!6&8$;*+-7;(*'%4!;89&?1,-3&41,@8#1,7A1!DUUMR!'5R!fiKKdfiKf4!
!
! Leg!
F);;9&(($R!"4u!37%9'7%9R!34u!I**+R!34dG4u!G7(;9$%*+R!:4!14u!1)(+&'R!34!"4u!3)'Q%R!E4!X4!S7$<-$+B!S<*;Q%!=*'!+dE/@&!3*<&;7<)'!)+-!,*</8&'$;!2<&;('*+$;%4!,&'=<7*'*)<Q/<d!?&'%7%!"<Q/<dF7+;($*+)<$Z&-!C<$B*(9$*@9&+&%![+Eu!+!�!J|g]4!6/%(&8)($;%!*=!E9$+!F$<8!3$;'*%('7;(7'&R!6&8$;*+-7;(*'!,&'=*'8)+;&R!)+-!3*-&<$+B!*=!3)W*'$(/!D9)'B&!H+W&;($*+!$+!F$&<-d2==&;(!E')+%$%(*'%4!01,;41,-3&41,)*D1!DUUOR!F5QR!LfkeidLfkhM4!
F);;9&(($R!"4u!I**+R!34!G4u!3)'Q%R!E4!X4!:)(&!#$&<&;('$;%!=*'!C'B)+$;!F$&<-d2==&;(!E')+%$%(*'%O!0&T!C@@*'(7+$($&%!=*'!C'B)+$;!2<&;('*+$;%4!;AC1,2"#&%1!DUUQR!FBR!LhKedLhJe4!
F);;9&(($R!"4!rdD*+W7B)(&-!,*</8&'%!=*'!C'B)+$;!2<&;('*+$;%!)+-!,9*(*?*<()$;!D&<<!"@@<$;)($*+%4!-3&41,2"#&%1!DU9UR!5(R!hffdhek4!
F*''&%(R!64!14!E9&!,)(9!(*!>.$A7$(*7%!)+-!5*TdD*%(!C'B)+$;!2<&;('*+$;!"@@<$)+;&%!*+!,<)%($;4!!"#$%&!DUUOR!'5/R!iLLdiLk4!
:)'+$&'R!F4u!I)%%)'R!"4u!G)W<)*7$R!14u!G*'*T$(ZR!:4u!#&<*=='&R!F4u!6&'?&(R!S4u!1$&%R!64u!"<+*(R!,4!3*<&;7<)'!2+B$+&&'$+B!*=!C'B)+$;!6&8$;*+-7;(*'%O!#&%$B+!*=!6&<=d"%%&8.</!,'*@&'($&%!$+!D*+W7B)(&-!E9$*@9&+&!C<$B*8&'%4!01,;41,-3&41,)*D1!9VVMR!FFGR!khLgdkhJL4!
:)7%%$)+!KiR!1&?$%$*+!"4LR!F'$%;9R!34!X4u!E'7;Q%R!:4!_4u!6;9<&B&<R!G4!S4u!6;7%&'$)R!:4!24u!1*..R!34!"4u!D9&&%&8)+R!X4!14u!6;)<8)+$R!:4u!S)'*+&R!`4u!3&++7;;$R!S4u!,&(&'%%*+R!:4!"4u!0)Q)(%7W$R!G4u!D)'$;)(*R!34u!5$R!o4u!G')(;9$)+R!G4!,4u!HZ8)/<*?R!"4!F4u!S<*$+*R!X4u!^9&+BR!:4u!6*++&+.&'BR!X4!54u!G)-)R!34u!29)')R!34u!E*/*()R!V4u!F7Q7-)R!14u!G)%&B)T)R!X4u!H%9$-)R!34u!0)Q)W$8)R!E4u!G*+-)R!I4u!V$()*R!C4u!0)Q)$R!G4u!`'&?&+R!E4u!3*+(B*8&'/R!X'4R!X4!"4u!,&')<()R!X4!24u!CB<$)'*R!F4u!S&)'@)'QR!34u!G&/-R!X4!X4u!S'*(9&'%R!24u!V7-$+R!V4!04u!6()'*?&'*?R!`4!04u!V*.)/)%9$R!14u!0*'8)+-R!X4u!1)B9)?);9)'$R!V4u!1&+-&<<R!"4u!S7')+(R!X4!D4u!H/&+B)'R!64!64u!E*8)%$R!X4u!D*%%$R!34u!1&B)R!04u!3$<<)8R!X4!34u!V<&+&R!34u!V+*YR!X4!24u!D'*%%R!X4!S4u!S)QQ&+R!`4u!"-)8*R!D4u!X)')8$<<*R!X4u!:*8@&'(%R!14u!6(')(8)++R!14!24u!I)Z/&?R!C4u!"7%($+R!"4!X4u!D)88$R!14u!,*8&<<$R!D4u!C;9(&'%Q$R!X4!_4u!3)'($+R!14!54u!3*'*Q78)R!V4u!^)Q'Z&T%Q$R!`4!:4u!`*(9R!:4!"4u!6)<?)-*'R!,4u!#)++&+.&'BR!X4!X4u!#)@@'$;9R!64u!#)+$&<%R!"4!#4u!F)'Q)%R!�4u!F*'&%8)+R!X4!S4u!C'($ZR!X4!`4u!D$*%<*T%Q$R!X4u!F*YR!#4!X4!:)7%%$)+R!H+;4R!_)<<$+B=*'-!DER!JKKi4!
:*9R!:4!V4!54u!#*+(97R!64!V4u!,)<<)(9)-Q)R!,4!V4!D');Q$+B!)+-!C'$&+()($*+!*=!6*<7($*+d#&@*%$(&-!17($<&!E$CJ!F$<8%4!-3&41,2"#&%1!DUUOR!FQR!JkehdJkgL4!
:'&BBR!S4!"4u!G)++)R!34!D4!D*8@)'$+B!C'B)+$;!(*!H+*'B)+$;!,9*(*?*<()$;!D&<<%O!E9&*'/R!2Y@&'$8&+(R!)+-!6$87<)($*+4!01,;<<+1,=3:.1!DUUMR!K(R!fgKedfgLM4!
:7$<<)78&R!34u!5$�B&*$%R!`4u!D9)8@)B+&R!S4u!^7((&'8)+R!F4!E$8&d#&@&+-&+(!#&+%$(/!F7+;($*+)<!E9&*'/!H+?&%($B)($*+!*=!(9&!".%*'@($*+!)+-!28$%%$*+!6@&;(')!*=!)!D/)+$+&!#/&4!-3&41,=3:.V,>&##1!DUUTR!''QR!LgedLgi4!
:7*R!64u!67+R!X4u!3)R!54u!I*7R!_4u!I)+BR!,4u!^9)*R!X4!`$%$.<&!5$B9(dG)'?&%($+B!0)@9(9)<&+&-$$8$-&![0#H]dDgK!#/)-%!)%!G&)?/d"(*8dF'&&!C'B)+$;!E'$@<&(!
!
! Leh!
,9*(*%&+%$($Z&'%!=*'!E'$@<&(pE'$@<&(!"++$9$<)($*+!S)%&-!>@;*+?&'%$*+4!R:&.,=E941!DU9MR!KQR!MMidMek4!
G)-Z$$*)++*7R!:4!6&8$;*+-7;($+B!S<*;Q!D*@*</8&'%!=*'!6&<=d"%%&8.<&-!,9*(*?*<()$;!#&?$;&%4!2H),U$++1!DUUDR!5BR!MegdMgK4!
G)<<%R!X4!X4!34u!_)<%9R!D4!"4u!:'&&+9)8R!04!D4u!3)'%&B<$)R!24!"4u!F'$&+-R!14!G4u!3*')(($R!64!D4u!G*<8&%R!"4!S4!2==$;$&+(!,9*(*-$*-&%!='*8!H+(&'@&+&(')($+B!,*</8&'!0&(T*'Q%4!!"#$%&!9VVQR!(BQR!MikdeKK4!
G)<<%R!X4!X4!34u!,$;9<&'R!V4u!F'$&+-R!14!G4!2Y;$(*+!#$==7%$*+!)+-!#$%%*;$)($*+!$+!)!,*</[@d@9&+/<&+&?$+/<&+&]wDgK!G&(&'*W7+;($*+!,9*(*?*<()$;!D&<<4!;<<+1,=3:.1,>&##1!9VVRR!Q/R!fLJKdfLJJ4!
G)8<&/R!H4!_4!0)+*%('7;(7'&!F).'$;)($*+!>%$+B!S<*;Q!D*@*</8&'%4!!"8*#&D38*+*9:!DUUMR!F'R!1fi4!
G)?$+B)R!24!24u!G*&?&R!_4u!_/+.&'BR!G4!"!0&T!D<)%%!*=!68)<<!S)+-!:)@!C'B)+$;!,*</8&'!D*+-7;(*'%4!=*+:41,U$++1!9VVDR!5KR!LLidLJg4!
G)?$+B)R!24!24u!(&+!G*&?&R!_4u!_/+.&'BR!G4!"<(&'+)(&!#*+*'d";;&@(*'!68)<<dS)+-d:)@!6&8$;*+-7;($+B!,*</8&'%O!,*</%A7)')$+&%!)+-!,*</;'*;*+)$+&%4!):8#31,2!9VVMR!GGR!JiidfKg4!
G&R!^4u!^9*+BR!D4u!G7)+BR!o4u!_*+BR!_4!I4u!_7R!G4u!D9&+R!54u!67R!64u!D)*R!I4!6$87<()+&*7%!2+9)+;&8&+(!*=!C@&+dD$';7$(!`*<()B&R!69*'(dD$';7$(!D7''&+(!#&+%$(/R!)+-!F$<<!F);(*'!$+!,*</8&'!6*<)'!D&<<%4!;AC1,2"#&%1!DU99R!5(R!MgfgdMgMf4!
G&<B&%&+R!34u!6*+-&'B))'-R!14u!V'&.%R!F4!D4!"-?)+;&-!3)(&'$)<%!)+-!,'*;&%%&%!=*'!,*</8&'!6*<)'!D&<<!#&?$;&%4!01,2"#&%1,-3&41!DU9UR!56R!fgdgK4!
G&'$+B-*'=R!F4!34!Z4u!1&7(&'R!34!D4u!E'*8@R!14!34!:'*T(9!#/+)8$;%!*=!,&+();&+&!E9$+!F$<8%4!!"#$%&!DUU9R!'F5R!eLhdeJK4!
G$<-&'.')+-R!64!"4u!V&<</R!V4!"4u!_&$%%<&-&'R!14u!E7+BR!D4dG4!3*+*=7+;($*+)<!0&)'dH+=')'&-!F<7*'*;9'*8&%!=*'!H8)B$+B!"@@<$;)($*+%4!UE*D*8W$9"#&,-3&41!DUUQR!FQR!LJhedLJkL4!
G*<('7@R!F4!C4u!3~<<&'R!:4!14!X4u!j7)+(&R!G4u!#&!F&/(&'R!64u!#&!6;9'/?&'R!F4!D4u!3~<<&+R!V4!E&''/<&+$8$-&%O!0&T!0H1!F<7*'&%;&+(!#/&%4!-3&41,7$%1,01!9VVTR!(R!JLidJJe4!
G*@@&R!G4u!0$BB&8)++R!34u!_$+-&'R!D4u!V')7(R!X4u!G$&%B&+R!14u!G$+%;9R!"4u!3&$%%+&'R!#4u!6)'$;$=(;$R!04!64!0)+*%;)<&!3*'@9*<*B/!*=!D*+W7B)(&-!,*</8&'wF7<<&'&+&dS)%&-!S7<Qd!G&(&'*W7+;($*+!6*<)'!D&<<%4!;AC1,M$8D#1,2"#&%1!DUUOR!F'R!LKKedLKLL4!
!
! Lek!
G*';)%R!H4u!F&'+)+-&ZR!14u!:*8&Zd1*-'$B7&ZR!X4!34u!D*<;9&'*R!X4u!:*8&ZdG&''&'*R!X4u!S)'*R!"4!34!_6o3O!"!6*=(T)'&!=*'!6;)++$+B!,'*.&!3$;'*%;*@/!)+-!)!E**<!=*'!0)+*(&;9+*<*B/4!H&C1,)DE1,@8.#%$41!DUUTR!B/R!KLfhKedKLfhLJ4!
G*'*T$(ZR!:4u!G)W<)*7$R!34!24u!G)W<)*7$R!14!E&8@&')(7'&!)+-!:)(&!`*<()B&!#&@&+-&+;&!*=!G*<&!3*.$<$(/!$+!,*</;'/%()<<$+&!C<$B*(9$*@9&+&!E9$+!F$<8!E')+%$%(*'%4!01,;<<+1,=3:.1!DUUUR!/BR!MMegdMMgf4!
G*7R!X4u!G7*R!54u!G&R!D4u!I)+BR!D4u!5$R!I4!6/+(9&%$%!)+-!".%*'@($*+!6@&;(')!*=!,*</[fd[@9&+/<&+&?$+/<](9$*@9&+&]%!T$(9!D*+W7B)(&-!6$-&!D9)$+%4!2"D%*4*+&D$+&.!DUUQR!(KR!eiMdgKf4!
G*7R!X4u!E)+R!^4!)4u!I)+R!I4u!G&R!I4u!I)+BR!D4u!5$R!I4!6/+(9&%$%!)+-!,9*(*?*<()$;!,'*@&'($&%!*=!ET*d#$8&+%$*+)<!D*+W7B)(&-!,*</(9$*@9&+&%!T$(9!S$[(9$&+/<&+&?$+/<&+&]!6$-&!D9)$+%4!01,;41,-3&41,)*D1!DUURR!F5/R!MiLLdMiLg4!
G*7R!X4u!D9&+R!G4dI4u!^9)+BR!64u!5$R!:4u!I)+BR!I4!6/+(9&%$%R!D9)');(&'$Z)($*+R!)+-!,9*(*?*<()$;!,'*@&'($&%!*=!)!5*T!S)+-!:)@!,*</8&'!S)%&-!*+!6$<*<&dD*+()$+$+B!,*</(9$*@9&+&%!)+-!JRLRfdS&+Z*(9$)-$)Z*<&4!01,;41,-3&41,)*D1!DUUWR!F(6R!LgLMMdLgLMe4!
G*7R!X4u!,)'QR!34dG4u!^9)+BR!64u!I)*R!I4u!D9&+R!54d34u!5$R!X4dG4u!I)+BR!I4!S)+-B)@!)+-!3*<&;7<)'!2+&'B/!5&?&<!D*+('*<!*=!D*+W7B)(&-!,*</8&'!,9*(*?*<()$;!3)(&'$)<%!S)%&-!*+!S&+Z*lLRJd.OMRed.�n-$(9$*@9&+&4!2"D%*4*+&D$+&.!DUUWR!'FR!gKLJdgKLk4!
G7*R!54u!^9)+BR!64u!:7*R!o4u!o7R!F4u!5$R!I4u!G*7R!X4!1&@<);$+B!"<Q*Y/!:'*7@%!T$(9!"<Q/<(9$&+/<!:'*7@%O!"!F&)%$.<&!"@@'*);9!E*!H8@'*?&!(9&!,'*@&'($&%!*=!,9*(*?*<()$;!,*</8&'%4!;89&?1,-3&41,@8#1,7A1!DU99R!G6R!igihdihKJ4!
G7((+&'R!64u!6*88&'R!34u!6(&$+&'R!>4u!E9&<)QQ)(R!34!C'B)+$;!F$&<-!2==&;(!E')+%$%(*'%!='*8!E'$)'/<)8$+&!6$-&dD9)$+!,*</8&'%4!;<<+1,=3:.1,>&##1!DU9UR!KQR!KhfeKfdKhfeKg4!
X)+BR!I4u!V$8R!#4!G4u!,)'QR!I4!#4u!D9*R!X4!G4u!GT)+BR!34u!V$<T*+R!D4!H+=<7&+;&!*=!(9&!#$&<&;('$;!D*+%()+(!*=!)!,*</?$+/<!,9&+*<!H+%7<)(*'!*+!(9&!F$&<-d2==&;(!3*.$<$(/!*=!)!,&+();&+&dS)%&-!E9$+dF$<8!E')+%$%(*'4!;<<+1,=3:.1,>&##1!DUUQR!/BR!LeJLKedLeJLKh4!
X7R!X4u!:<)Z&'R!"4!04u!3)(9$&%R!14!"4!D)%%&((&!5).&<$+B!=*'!F);$<&!D*+%('7;($*+!*=!2+&'B/!E')+%=&'!F<7*'&%;&+(!,'$8&'%4!!$D+&ED,;DEA.,H&.1!9VVRR!5'R!LLMMdLLMk4!
X7+BR!D4u!3)<$)Q)<R!"4u!6$-*'&+Q*R!"4u!6$&B'$%(R!E4!,&+();&+&dS)%&-!E9$+!F$<8!E')+%$%(*'%!T$(9!E$()+$78!CY$-&d,*</%(/'&+&w,*</%(/'&+&!H+%7<)(*'!S<&+-%O!G$B9!3*.$<$(/!*+!G$B9!V!#$&<&;('$;!F$<8%4!;<<+1,=3:.1,>&##1!DUUTR!K6R!KgJLLLdKgJLLf4!
V)(ZR!G4!24!1&;&+(!"-?)+;&%!$+!6&8$;*+-7;(*'!,&'=*'8)+;&!)+-!,'$+($+B!,'*;&%%&%!=*'!C'B)+$;!E')+%$%(*'dS)%&-!2<&;('*+$;%4!-3&41,2"#&%1!DUUOR!FQR!MhMkdMheg4!
!
! Lei!
V&-$)R!04u!6)'Q)'R!"4u!,7'Q)/)%(9)R!,4u!S)B;9$R!64!V&(*;/)+$+&!#/&%!)%!6&+%*'%!=*'!,'*($;$(/!)+-!@G!*=!)!3&-$784!)<&D#%*D3E41,;D#",="%#,;!DU9DR!KGR!egidehe4!
V$8R!I4u!D**QR!64u!D9*7<$%R!64!"4u!0&<%*+R!X4u!#7'')+(R!X4!14u!S')-<&/R!#4!#4!D4!C'B)+$;!,9*(*?*<()$;!#&?$;&%!S)%&-!*+!S<&+-%!*=!1&B$*'&B7<)'!,*</[fd9&Y/<(9$*@9&+&]!)+-!,*</[iRid-$*;(/<=<7*'&+&d;*d.&+Z*(9$)-$)Z*<&]4!-3&41,2"#&%1!DUUOR!FQR!MkLJdMkLk4!
V$8R!I4u!D**QR!64u!E7<)-9)'R!64!34u!D9*7<$%R!64!"4u!0&<%*+R!X4u!#7'')+(R!X4!14u!S')-<&/R!#4!#4!D4u!:$<&%R!34u!3;D7<<*;9R!H4u!G)R!D4d64u!1&&R!34!"!6('*+B!1&B$*'&B7<)'$(/!2==&;(!$+!6&<=dC'B)+$Z$+B!D*+W7B)(&-!,*</8&'!F$<8%!)+-!G$B9d2==$;$&+;/!,*</(9$*@9&+&OF7<<&'&+&!6*<)'!D&<<%4!!"#1,2"#&%1!DUURR!GR!LihdJKf4!
V$@@&<&+R!S4u!S'&-)%R!X4d54!C'B)+$;!,9*(*?*<()$;%4!78&%9:,78CE%*81,)DE1!DUUVR!5R!JeLdJgL4!
V$';98&/&'R!64u!1&7(&'R!V4!6;$&+($=$;!H8@*'()+;&R!@'*@&'($&%!)+-!:'*T$+B!"@@<$;)($*+%!*=!@*</[fRMd&(9/<&+&-$*Y/(9$*@9&+&]4!01,2"#&%1,-3&41!DUUQR!FGR!JKhhdJKkk4!
V$?)<)R!34u!#$&-&'$;9R!F4!*4!";&(/<&+&d#&'$?&-!6('*+B!C'B)+$;!";;&@(*'%!=*'!,<)+)'!)+-!0*+@<)+)'!,7%9|,7<<!D9'*8*@9*'&%4!;DD1,-3&41,H&.1!DUUWR!'5R!JfedJMk4!
V<$+&R!14!X4u!3;:&9&&R!34!#4u!V)-+$Q*?)R!24!04u!5$7R!X4u!F'�;9&(R!X4!34!X4!D*+('*<<$+B!(9&!F$&<-d2==&;(!3*.$<$(/!*=!1&B$*'&B7<)'!,*</(9$*@9&+&!./!D9)+B$+B!(9&!3*<&;7<)'!_&$B9(4!;AC1,2"#&%1!DUUMR!FGR!LeLidLeJJ4!
V*.$+R!S4u!:'7.&'(R!54u!S<78%(&+B&<R!64u!G&++&.&'B&'R!F4u!G&;9(R!64!`);778d,'*;&%%).<&!5)--&'dE/@&!C<$B*@9&+/<&+&%!=*'!C'B)+$;dH+*'B)+$;!G/.'$-!6('7;(7'&%O!6/+(9&%$%R!C@($;)<!)+-!2<&;('*;9&8$;)<!,'*@&'($&%!>@*+!H+;'&)%$+B!,<)+)'$Z)($*+!)%!_&<<!)%!E9$+!F$<8!:'*T(94!01,2"#&%1,-3&41!DU9DR!55R!MfkfdMfiK4!
V*;9R!04!C'B)+$;!2<&;('*+$;!#&?$;&%!)+-!E9&$'!F7+;($*+)<!H+(&'=);&%4!-3&41,=3:.1,-3&41!DUUTR!/R!LMfkdLMee4!
V'&.%R!F4!D4u!F/&+.*R!X4u!X*'B&+%&+R!34!,'*-7;(!H+(&B')($*+!*=!D*8@);(!1*<<d(*d1*<<!,'*;&%%&-!,*</8&'!6*<)'!D&<<!3*-7<&%O!3&(9*-%!)+-!3)+7=);(7'&!>%$+B!F<&Y*B')@9$;!,'$+($+BR!6<*(d#$&!D*)($+B!)+-!1*()'/!6;'&&+!,'$+($+B4!01,2"#&%1,-3&41!DU9UR!56R!kiiMdiKKL4!
V7<$+$;9R!"4!`4u!H%9;9&+Q*R!"4!"4!3&'*;/)+$+&!#/&%O!6/+(9&%$%R!6('7;(7'&R!,'*@&'($&%!)+-!"@@<$;)($*+%4!H$..1,-3&41,H&C1!DUUVR!B/R!LML4!
5)ZZ)'$R!34u!5�@&Zdj7$+(&<)R!34!"4!S<*;Q!D*@*</8&'%!)%!)!E**<!=*'!0)+*8)(&'$)<!F).'$;)($*+4!;AC1,2"#&%1!DUUMR!FGR!LekfdLeiM4!
!
! LgK!
5&&R!X4!V4u!3)R!_4!54u!S').&;R!D4!X4u!I7&+R!X4u!3**+R!X4!64u!V$8R!X4!I4u!5&&R!V4u!S)Z)+R!:4!D4u!G&&B&'R!"4!X4!,'*;&%%$+B!"--$($?&%!=*'!H8@'*?&-!2==$;$&+;/!='*8!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%4!01,;41,-3&41,)*D1!DUUWR!F(6R!fgLidfgJf4!
5&&R!34u!D9*R!S4dV4u!^$+R!_4dD4!67@')8*<&;7<)'!6('7;(7'&%!='*8!1*-|D*$<!S<*;Q!D*@*</8&'%4!-3&41,H&C1!DUU9R!F6FR!fkgidfkiJ4!
5&&R!64u!E9*8)%R!V4!14!X4u!E9)/78)+)?)+R!64u!S)'-&&+R!D4!X4!#&@&+-&+;&!*=!(9&!ET*d,9*(*+!".%*'@($*+!D'*%%!6&;($*+!*+!(9&!D*+W7B)($*+!*=!(9&!,9&+/<);&(/<&+&!5$+Q&'!$+!#$@*<)'!#*+*'|S'$-B&|";;&@(*'!D9'*8*@9*'&%4!01,=3:.1,-3&41,;!DUUQR!F6KR!ihghdihhM4!
5&+&%R!34u!_&(Z&<)&'R!:4dX4!"4!G4u!V**$%(')R!F4!S4u!`&&+%(')R!64!D4u!G788&<&+R!X4!D4u!S<*8R!,4!_4!34!F7<<&'&+&!S$%)--7;(%!=*'!2+9)+;&-!C@&+dD$';7$(!`*<()B&%!)+-!2==$;$&+;$&%!$+!,*</8&'!6*<)'!D&<<%4!;AC1,2"#&%1!DUUWR!56R!JLLgdJLLi4!
5&T$%R!04!64!E*T)'-!D*%(d2==&;($?&!6*<)'!2+&'B/!>%&4!)DE&8D&!DUUTR!(FGR!hikdkKL4!
5$)+BR!I4u!F&+BR!#4u!_7R!I4u!E%)$R!64dE4u!5$R!:4u!1)/R!D4u!I7R!54!G$B9</!2==$;$&+(!6*<)'!D&<<!,*</8&'%!#&?&<*@&-!?$)!F$+&dE7+$+B!*=!6('7;(7')<!)+-!2<&;('*+$;!,'*@&'($&%4!01,;41,-3&41,)*D1!DUUVR!F(FR!hhiJdhhii4!
5$R!:4u!69'*('$/)R!`4u!G7)+BR!X4u!I)*R!I4u!3*'$)'(/R!E4u!28&'/R!V4u!I)+BR!I4!G$B9d2==$;$&+;/!6*<7($*+!,'*;&%%).<&!,*</8&'!,9*(*?*<()$;!D&<<%!./!6&<=dC'B)+$Z)($*+!*=!,*</8&'!S<&+-%4!!"#1,2"#&%1!DUUQR!'R!kgMdkgk4!
5$R!I4u!^*7R!I4!D*+W7B)(&-!,*</8&'!,9*(*?*<()$;!3)(&'$)<%!T$(9!S'*)-!".%*'@($*+!S)+-!)+-!G$B9!D9)'B&!D)''$&'!3*.$<$(/4!;AC1,2"#&%1!DUUWR!56R!JieJdJiek4!
5$R!^4u!G&R!:4u!_)+R!o4u!5$7R!I4u!^9*7R!X4u!5*+BR!:4u!^7*R!I4u!^9)+BR!34u!D9&+R!I4!6*<7($*+!,'*;&%%).<&!19*-)+$+&dS)%&-!68)<<!3*<&;7<&!C'B)+$;!,9*(*?*<()$;!D&<<%!T$(9!)!,*T&'!D*+?&'%$*+!2==$;$&+;/!*=!g4Lt4!;AC1,78&%9:,2"#&%1!DU9DR!5R!hMdhh4!
5$)+BR!I4u!F&+BR!#4u!_7R!I4u!E%)$R!64dE4u!5$R!:4u!1)/R!D4u!I7R!54!G$B9</!2==$;$&+(!6*<)'!D&<<!,*</8&'%!#&?&<*@&-!?$)!F$+&dE7+$+B!*=!6('7;(7')<!)+-!2<&;('*+$;!,'*@&'($&%4!01,;41,-3&41,)*D1!DUUVR!F(FR!hhiJdhhii4!
5$)+BR!I4u!o7R!^4u!o$)R!X4u!E%)$R!64dE4u!_7R!I4u!5$R!:4u!1)/R!D4u!I7R!54!F*'!(9&!S'$B9(!F7(7'&�S7<Q!G&(&'*W7+;($*+!,*</8&'!6*<)'!D&<<%!T$(9!,*T&'!D*+?&'%$*+!2==$;$&+;/!*=!h4Mt4!;AC1,2"#&%1!DU9UR!55R!2Lfed2Lfk4!
5$+R!54dI4u!D9&+R!I4dG4u!G7)+BR!^4dI4u!5$+R!G4d_4u!D9*7R!64dG4u!5$+R!F4u!D9&+R!D4d_4u!5$7R!I4dG4u!_*+BR!V4dE4!"!5*Td2+&'B/d:)@!C'B)+$;!#/&!=*'!G$B9d,&'=*'8)+;&!68)<<d3*<&;7<&!C'B)+$;!6*<)'!D&<<%4!01,;41,-3&41,)*D1!DU99R!F((R!LekJJdLekJe4!
5$+R!I4u!5$R!I4u!^9)+R!o4!68)<<!3*<&;7<&!6&8$;*+-7;(*'%!=*'!G$B9d2==$;$&+;/!C'B)+$;!,9*(*?*<()$;%4!-3&41,)*D1,H&C1!DU9DR!'FR!MJMedMJhJ4!
!
! LgL!
5$+-+&'R!64!34u!G7((+&'R!64u!D9$;9&R!"4u!E9&<)QQ)(R!34u!V')7%;9R!:4!D9)'B&!6&@)')($*+!)(!6&<=d"%%&8.<&-!0)+*%('7;(7'&-!S7<Q!H+(&'=);&!$+!S<*;Q!D*@*</8&'%4!;89&?1,-3&41,@8#1,7A1!DUURR!'GR!ffgMdffgk4!
5$7R!I4u!^9)*R!X4!`$%$.<&!5$B9(dG)'?&%($+B!,&'/<&+&.$%$8$-&dF7<<&'&+&![DgK]!#/)-%!T$(9!S$-$'&;($*+)<!},$+Bd,*+B}!2+&'B/!E')+%=&'!)%!E'$@<&(!,9*(*%&+%$($Z&'%!=*'!,9*(**Y$-)($*+!*=!LRed#$9/-'*Y/+)@9(9)<&+&4!-3&41,-*44$81!DU9DR!'/R!fheLdfhef4!
57-T$B%R!64u!V')7%;9R!:4u!3)B&'<&R!14!,9)%&!S&9)?$*'!*=!"SD!E'$.<*;Q!E&'@*</8&'%!$+!E9$+!F$<8%O!3&%*%;)<&!6$87<)($*+%4!2"D%*4*+&D$+&.!DUUQR!(/R!LkeidLkgh4!
3)R!_4u!I)+BR!D4u!:*+BR!o4u!5&&R!V4u!G&&B&'R!"4!X4!E9&'8)<</!6().<&R!2==$;$&+(!,*</8&'!6*<)'!D&<<%!T$(9!0)+*%;)<&!D*+('*<!*=!(9&!H+(&'@&+&(')($+B!0&(T*'Q!3*'@9*<*B/4!;AC1,M$8D#1,2"#&%1!DUUQR!FGR!LgLhdLgJJ4!
3)<$)Q)<R!"4u!V)(ZR!G4u!D*((%R!,4!34u!67.')8*+&/R!64u!3$')7R!,4!H+*'B)+$;!CY$-&!D*'&R!,*</8&'!69&<<!0)+*;*8@*%$(&!)%!)!G$B9!V!:)(&!#$&<&;('$;!=*'!F<&Y$.<&!2<&;('*+$;%!"@@<$;)($*+%4!01,;41,-3&41,)*D1!DUUQR!F5BR!LMgeedLMggJ4!
3)'-&'R!64!14u!D9&+BR!54dE4u!E$&8)++R!SR!:4u!F'$&-<$R!"4!D4u!S<)+;9)'-d#&%;&R!34u!,&''/R!X4!_4u!6Q$+-9*WR!X4!5)'B&!F$'%(!G/@&'@*<)'$Z).$<$($&%!$+!,7%9d,7<<!,*</&+&%!./!E7+$+B!*=!(9&!S*+-!5&+B(9!"<(&'+)($*+!)+-!"'*8)($;$(/4!)DE&8D&!9VVOR!5Q(R!eLLdeLM4!!3)(7'*?�R!V4u!?)+!S)?&<R!64!64u!_$&+QR!34!34u!X)+%%&+R!14!"4!X4u!V&8&'$+QR!34!#&%;'$@($*+!*=!(9&!3*'@9*<*B/!#&@&+-&+(!D9)'B&!E')+%@*'(!)+-!,&'=*'8)+;&!*=!,*</8&'OF7<<&'&+&!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%4!;AC1,M$8D#1,2"#&%1!DU99R!5FR!JgLdJgi4!
3&<Z&'R!D4u!V**@R!24!X4u!3$9)$<&(;9$R!`4!#4u!S<*8R!,4!_4!34!G*<&!E')+%@*'(!$+!,*</[@9&+/<&+&!?$+/<&+&]w3&(9)+*=7<<&'&+&!S7<QdG&(&'*W7+;($*+!6*<)'!D&<<%4!;AC1,M$8D#1,2"#&%1!DUUOR!F'R!kgedkhK4!
3&+BR!F4u!D9&+R!V4u!E$)+R!G4u!^7@@$'*<$R!54u!07&%;9R!F4!D/)+$+&!#/&!";($+B!S*(9!)%!#*+*'!)+-!";;&@(*'!$+!G&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!;<<+1,=3:.1,>&##1!DUUMR!/5R!fhkkdfhiK4!
3$<(%*?R!64u!2+;$+)%R!D4u!"<*+%*R!X4!0*?&<!6/+(9&%$%!*=!V&(*;/)+$+&!#/&%4!L&#%"3&A%*8,>&##1!DUU9R!'5R!gLJidgLfL4!
3$%9')R!"4u!S&9&')R!14!V4u!S&9&')R!,4!V4u!3$%9')R!S4!V4u!S&9&')R!:4!S4!D/)+$+&%!#7'$+B!(9&!LiiK%O�!"!1&?$&T4!-3&41,H&C1!DUUUR!F66R!LihfdJKLJ4!
3$%9')R!"4u!S{7&'<&R!,4!68)<<!3*<&;7<&!C'B)+$;!6&8$;*+-7;(*'%!*+!(9&!3*?&O!,'*8$%&%!=*'!F7(7'&!6*<)'!2+&'B/!E&;9+*<*B/4!;89&?1,-3&41,@8#1,7A1!DU9DR!GFR!JKJKdJKgh4!
3*'(*+R!C4!"!0&T!#)/!#)T+$+Bx!6$<$;*+!`)<<&/!67+'$%&4!!"#$%&!DUURR!''(R!LidJJ4!
!
! LgJ!
0~&%;9R!F4u!F)&%R!"4u!^7@@$'*<$R!54u!3&+BR!F4u!D9&+R!V4u!E$)+R!G4!D*7+(&'$*+!2==&;(%!$+!D/)+$+&!G&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!01,2"#&%1,)DE1!DUUQR!'6R!LfefdLfeh4!
0~&%;9R!F4u!E*'+)'&R!:4u!^7@@$'*<$R!54u!3&+BR!F4u!D9&+R!V4u!E$)+R!G4!H+(&'=);&!3*-$=$;)($*+!(*!C@($8$Z&!D9)'B&!6&@)')($*+!$+!D/)+$+&!G&(&'*W7+;($*+!,9*(*?*<()$;!#&?$;&%4!)*+1,78&%9:,2"#&%1,)*+1,-&++.!DUUQR!/BR!kLhdkJM4!
C()Q)R!G4u!V$')R!34u!I)+*R!V4u!H(*R!64u!3$(&Q7')R!G4u!V)T)()R!E4u!3)(%7$R!F4!37<($dD*<*'&-!#/&d6&+%$($Z&-!6*<)'!D&<<%4!01,=3*#*D3&41,=3*#*JE*+1,;!DUUOR!FQ'R!ghdhf4!
,)+-&/R!64!64u!3$Z7+*R!E4u!#)%R!64!V4u!CB*8$R!I4u!G)/)%&R!64!6*<7($*+!,'*;&%%).<&!E9$+!F$<8!C'B)+$;!,9*(*?*<()$;!D&<<%!S)%&-!*+!F)'!1&-!6&+%$($?&!6*<7.<&!6A7)')$+&!#/&%4!L3E8,)*+EA,ME+4.!DU9DR!G55R!MKLdMKg4!
,)'QR!D4u!I**+R!X4u!E9*8)%R!24!54!2+).<$+B!0)+*(&;9+*<*B/!T$(9!6&<=!"%%&8.<&-!S<*;Q!D*@*</8&'!,)((&'+%4!=*+:4&%!DUUMR!''R!ghJedghgK4!
,)'QR!X4u!69$8R!64dC4u!G*+BR!G4!54!,*</8&'!E9$+dF$<8!E')+%$%(*'%!F).'$;)(&-!./!#'/!E')+%=&'!*=!,*</8&'!6&8$;*+-7;(*'4!;<<1,=3:.1,>&##1!DUUQR!/QR!KhfeKedKhfeKh4!
,&&(R!X4u!V$8R!X4!I4u!D*)(&%R!04!24u!3)R!_4!54u!3*%&%R!#4u!G&&B&'R!"4!X4u!S)Z)+R!:4!D4!2==$;$&+;/!2+9)+;&8&+(!$+!5*TdS)+-B)@!,*</8&'!6*<)'!D&<<%!./!,'*;&%%$+B!T$(9!"<Q)+&!#$(9$*<%4!!"#1,2"#&%1!DUUTR!QR!MihdeKK4!
,&&(R!X4u!D9*R!04!64u!5&&R!64!V4u!S)Z)+R!:4!D4!E')+%$($*+!='*8!6*<7($*+!(*!(9&!6*<$-!6()(&!$+!,*</8&'!6*<)'!D&<<%!D)%(!='*8!3$Y&-!6*<?&+(%4!2"D%*4*+&D$+&.!DUUWR!'FR!kgeedkgei4!
,&&(R!X4u!G&&B&'R!"4!X4u!S)Z)+R!:4!D4!},<)%($;}!6*<)'!D&<<%O!6&<=d"%%&8.</!*=!S7<Q!G&(&'*W7+;($*+!0)+*8)(&'$)<%!./!6@*+()+&*7%!,9)%&!6&@)')($*+4!;DD1,-3&41,H&.1!DUUVR!'5R!LhKKdLhKk4!
,&78)+%R!,4u!>;9$-)R!64u!F*''&%(R!64!14!2==$;$&+(!S7<Q!G&(&'*W7+;($*+!,9*(*?*<()$;!D&<<%!>%$+B!68)<<d3*<&;7<)'d_&$B9(!C'B)+$;!E9$+!F$<8%4!!"#$%&!DUUMR!'5GR!LekdLgJ4!
,9*(*?*<()$;%R!04!04!D4!=4O!S&%(!1&%&)';9dD&<<!2==$;$&+;$&%4!9((@OwwTTT4+'&<4B*?w+;@?wR!2-4R!JKLJ4!
,$?'$Q)%R!"4u!0&7B&.)7&'R!G4u!6)'$;$=(;$R!04!64!H+=<7&+;&!*=!,'*;&%%$+B!"--$($?&%!(*!0)+*d3*'@9*<*B/!)+-!2==$;$&+;/!*=!S7<QdG&(&'*W7+;($*+!6*<)'!D&<<%O!"!D*8@)')($?&!1&?$&T4!)*+1,78&%1!DU99R!/GR!LJJgdLJfh4!
,*@&'&R!S4!D4u!#&<<)!,&<<&R!"4!34u!,*&R!"4u!E9)/78)+)?)+R!64!3);'*8*<&;7<)'!"';9$(&;(7'&%!=*'!C'B)+$;!,9*(*?*<()$;%4!=3:.1,-3&41,-3&41,=3:.1!DU9DR!F'R!MKefdMKeh4!
!
! Lgf!
,7/*<R!34u!2+;$+)%R!D4u!1$?&')R!54u!3$<(%*?R!64u!"<*+%*R!X4!6/+(9&%$%!*=!0&T!V&(*;/)+$+&!#/&%!=*'!(9&!#&?&<*@8&+(!*=!C@($;)<!6&+%*'%O!C@($;)<!D9)');(&'$%)($*+!)+-!6*<?)(*;9'*8$;!S&9)?$*7'4!)&8.1,;D#$"#*%.,U!DUURR!FFGR!JkhdJig4!
1)+-R!S4!,4u!:&+*&R!X4u!G&'&8)+%R!,4u!,**'(8)+%R!X4!6*<)'!D&<<%!>($<$Z$+B!68)<<!3*<&;7<)'!_&$B9(!C'B)+$;!6&8$;*+-7;(*'%4!=%*91,=3*#*C*+#"ED.!DUUTR!FGR!geidghg4!
1&--/R!X4!64u!V)<&R!E4u!S)<)W$R!:4u!D9)+-')%&Q)')+R!"4u!E9)/78)+)?)+R!64!D/;<*@&+()-$(9$*@9&+&dS)%&-!C'B)+$;!6&8$;*+-7;(*'%O!2==&;(!*=!F<7*'$+)(&-!67.%($(7&+(%!*+!2<&;('*;9&8$;)<!)+-!D9)'B&!E')+%@*'(!,'*@&'($&%4!01,=3:.1,-3&41,>&##1!DU99R!5R!gMkdgeM4!
1&$;9)'-(R!D4!6*<?)(*;9'*8$;!#/&%!)%!6*<?&+(!,*<)'$(/!H+-$;)(*'%4!-3&41,H&C1!9VVOR!K'R!JfLidJfek4!
1&Z&+-&R!34!D4u!D)8@*-*+$;*R!,4u!".7$+R!24u!V*%%)+/$R!X4!3&'*;/)+$+&dE/@&!#/&%!='*8!S)'.$(7'$;!";$-!#&'$?)($?&%4!)<&D#%*D3E41,;D#"V,="%#,;!DUU9R!GBR!LLkfdLLiK4!
1$?&')R!54u!,7/*<R!34u!3$<(%*?R!64u!`$<<7&+-)%R!F4u!"<*+%*R!X4!0&T!V&(*;/)+$+&dS)%&-!F<7*'&%;&+(!C@(*-&%!=*'!(9&!#&?&<*@8&+(!*=!H+(&B')(&-!_)?&B7$-&!6&+%*'%4!)&8.1,;D#$"#*%.,U!DUURR!FF'R!hKedhLJ4!
1*+;)<$R!X4!3*<&;7<)'!S7<Q!G&(&'*W7+;($*+%O!"+!28&'B$+B!"@@'*);9!(*!C'B)+$;!6*<)'!D&<<%4!;DD1,-3&41,H&.1!DUUVR!'5R!LhLidLhfK4!
1*%&+.<78R!S4!S4u!5&&R!54!:4u!6@7'B&*+R!64!54u!V9)+R!64!G4u!3&+;9&+R!64!34u!G&$+&'R!D4!14u!D9&+R!64!34!0&T!#/&d5).&<&-!E&'8$+)(*'%!=*'!H8@'*?&-!#0"!6&A7&+;$+B!,)((&'+%4!!$D+&ED,;DEA.,H&.1!9VVTR!5GR!MeKKdMeKM4!
17$ZR!14u!D9*7-9)'/R!#4u!0$;Q&<R!S4u!E*;;*<$R!E4u!D9)+BR!V4dD4u!3)/&'R!"4!D4u!D<)+;/R!,4u!S<)Q&</R!X4!34u!G&)-'$;QR!14!54u!H)++*(()R!64u!3)<<$)')%R!:4!:4!,&+();&+&!E9$+!F$<8!:'*T(94!-3&41,2"#&%1!DUUOR!FQR!MMihdMeKk4!
6)'/R!04u!17.)()(R!54u!S'*;9*+R!D4u!G)-Z$$*)++*7R!:4u!17*Q*<)$+&+R!X4u!3&ZZ&+B)R!14!6&<=d"%%&8.</!*=!,*</[-$&(9/<9&Y/<*Y/d@d@9&+/<&+&?$+/<&+&]d.d@*</[Md?$+/<@/'$-$+&]!1*-dD*$<!S<*;Q!D*@*</8&'!6/%(&8%4!2"D%*4*+&D$+&.!DUUTR!'6R!giiKdgiih4!
6;9)'.&'R!34!D4u!3~9<.);9&'R!#4u!V*@@&R!34u!#&+QR!,4u!_)<-)7=R!D4u!G&&B&'R!"4!X4u!S').&;R!D4!X4!#&%$B+!17<&%!=*'!#*+*'%!$+!S7<QdG&(&'*W7+;($*+!6*<)'!D&<<%�E*T)'-%!LK�t!2+&'B/dD*+?&'%$*+!2==$;$&+;/4!;AC1,2"#&%1!DUURR!F/R!hkidhiM4!
6;9$<$+%Q/R!,4u!"%)T)@$'*8R!>4u!6;9&'=R!>4u!S$&<&R!34u!S').&;R!D4!X4!H+=<7&+;&!*=!(9&!3*<&;7<)'!_&$B9(!*=!,*</[fd9&Y/<(9$*@9&+&]!*+!(9&!,&'=*'8)+;&!*=!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%4!-3&41,2"#&%1!DUUQR!FBR!JLhedJLkK4!
!
! LgM!
6;9'*&-&'R!14u!3)W&T%Q$R!54!"4u!:'&<<R!34!G$B9d,&'=*'8)+;&!C'B)+$;!E')+%$%(*'%!>%$+B!6*<7($*+d,'*;&%%&-!0)+*@)'($;<&dF$<<&-!G$B9dQ!,*</8&'!:)(&!H+%7<)(*'%4!;AC1,2"#&%1!DUUQR!FBR!LefedLefi4!
6&B)<8)+R!14!"4u!3;D7<<*;9R!S4u!V$'8)/&'R!64u!>'.)+R!X4!X4!S<*;Q!D*@*</8&'%!=*'!C'B)+$;!C@(*&<&;('*+$;%4!2"D%*4*+&D$+&.!DUUVR!'5R!iJKediJLg4!
6&'?&(R!S4u!G*'*T$(ZR!:4u!1$&%R!64u!5)B*'%%&R!C4u!"<+*(R!,4u!I)%%)'R!"4u!#&<*=='&R!F4u!6'$?)%()?)R!,4u!G)W<)*7$R!14!,*</8*'@9$%8!)+-!D9)'B&!E')+%@*'(!$+!`);778d2?)@*')(&-!6&Y$(9$*@9&+&!F$<8%4!-3&41,2"#&%1!9VVOR!QR!LkKidLkLe4!
69)9R!"4u!3&$&'R!X4u!`)<<)(d6)7?)$+R!24u!#'*ZR!D4u!V'*<<R!>4u!_/'%;9R!04u!:7$<<&(R!X4u!:')=R!>4!3$;'*;'/%()<<$+&!"$<$;*+!)+-!z3$;'*8*'@9U!E)+-&8!6*<)'!D&<<%4!L3E8,)*+EA,ME+4.!DUUDR!'6(N'6'R!LhidLkh4!
69)9&&+R!64!24u!S').&-R!D4!X4u!6)'$;$=(;$R!04!64u!,)-$+B&'R!F4u!F'*89&'ZR!E4u!G788&<&+R!X4!D4!J4et!2==$;$&+(!C'B)+$;!,<)%($;!6*<)'!D&<<%4!;<<+1,=3:.1,>&##1!DUU9R!B/R!kMLdkMf4!
69(&$+R!34u!3)@&<R!X4u!S&+Z$B&'R!X4!S4u!F*''&%(R!64!14!2==&;(%!*=!F$<8!3*'@9*<*B/!)+-!:)(&!#$&<&;('$;!67'=);&!,'&@)')($*+!*+!(9&!2<&;('$;)<!D9)');(&'$%($;%!*=!C'B)+$;d`)@*'d,9)%&d#&@*%$(&-!,&+();&+&!E9$+dF$<8!E')+%$%(*'%4!;<<+1,=3:.1,>&##1!DUUDR!/FR!JgkdJhK4!
6$''$+B9)7%R!G4!#&?$;&!,9/%$;%!*=!6*<7($*+d,'*;&%%&-!C'B)+$;!F$&<-d2==&;(!E')+%$%(*'%4!;AC1,2"#&%1!DUUQR!FBR!JMLLdJMJe4!
6*88&'R!34u!G7&((+&'R!64u!E9&<)QQ)(R!34!#*+*'d";;&@(*'!S<*;Q!D*@*</8&'%!=*'!,9*(*?*<()$;!"@@<$;)($*+%4!01,2"#&%1,-3&41!DU9UR!56R!LKhkkdLKhih4!
6*+BR!o4u!F*<&/R!X4!_4!"!0&T!_)(&'d6*<7.<&!0&)'dH+=')'&-!D'*;*+$78!#/&4!R:&.,=E94&8#.!DUUWR!B/R!gKdgM4!
6@)+BB))'-R!G4u!V'&.%R!F4!D4!"!S'$&=!G$%(*'/!*=!(9&!#&?&<*@8&+(!*=!C'B)+$;!)+-!,*</8&'$;!,9*(*?*<()$;%4!)*+1,78&%9:,2"#&%1,)*+1,-&++.!DUUOR!/(R!LJedLMg4!
6()<8);9R!>4u!-&!S*&'R!S4u!`$-&<*(R!D4u!?)+!G7((&+R!,4!F4u!G)-Z$$*)++*7R!:4!6&8$;*+-7;($+B!#$.<*;Q!D*@*</8&'%!6/+(9&%$Z&-!./!3&)+%!*=!D*+('*<<&-!1)-$;)<!,*</8&'$Z)($*+!E&;9+$A7&%4!01,;41,-3&41,)*D1!DUUUR!F55R!eMgMdeMhJ4!
6(&$+8)++R!`4u!V'*+&+.&'BR!04!34u!5&+Z&R!34!14u!:')=R!64!34u!G&'(&<R!#4u!3&&'9*<ZR!V4u!S~';Q%(~88&'R!G4u!E7</)Q*?)R!24!`4u!_~'(9+&'R!F4!6$8@<&R!G$B9</!2==$;$&+(!`);778d,'*;&%%&-!S7<Q!G&(&'*W7+;($*+!6*<)'!D&<<%!S)%&-!*+!3&'*;/)+$+&!#/&%4!;AC1,78&%9:,2"#&%1!DU99R!FR!kkkdkif4!
6('&&(R!14!"4u!0*'(9'7@R!X4!24u!6)<<&*R!"4!E')+%@*'(!$+!,*</;'/%()<<$+&!,*</8&'!E9$+dF$<8!E')+%$%(*'%4!=3:.1,H&C1,U!DUUQR!BFR!LgeJKJdLgeJLM4!
!
! Lge!
6('&Q*T%Q$R!54u!69$'$+$)+R!`4!^4u!69$8Q$+R!"4!"4O!3&'*;/)+$+&%O!6/+(9&%$%!)+-!"@@<$;)($*+4!H+!I&#&%*D:D+ED,=*+:4E8&,R:&.u!E*@$;%!$+!G&(&'*;/;<$;!D9&8$%('/u!6@'$+B&'!S&'<$+!G&$-&<.&'BR!JKKku!`*<4!LMu!@@!hedLKe4!
67+R!I4u!_&<;9R!:4!D4u!5&*+BR!_4!54u!E)Q);%R!D4!X4u!S)Z)+R!:4!D4u!G&&B&'R!"4!X4!6*<7($*+d,'*;&%%&-!68)<<d3*<&;7<&!6*<)'!D&<<%!T$(9!g4ht!2==$;$&+;/4!!"#1,2"#&%1!DU9DR!FFR!MMdMk4!
E)Q&;9$R!V4u!V)8)(R!,4!`4u!"?$')9R!14!14u!X/*(9$%9R!V4u!1)8)$)9R!#4!G)'?&%($+B!H+=')'&-!,9*(*+%!T$(9!D'*;*+)(&!#/&%4!-3&41,2"#&%1!DUUTR!56R!JgedJhJ4!
E)8&&?R!"4!14u!`)++$Q*?R!"4!`4u!6;9**R!G4!F4!34!D9)'B&!3*.$<$(/!)+-!,9*(*?*<()$;!S&9)?$*7'!*=!D)'.*;/)+$+&!#/&!5)/&'%!#&@*%$(&-!./!E9&'8)<!2?)@*')($*+!$+!`);7784!L3E8,)*+EA,ME+4.!DUUOR!'GFN'G5R!LKidLLL4!
E)+BR!D4!_4!ET*d5)/&'!C'B)+$;!,9*(*?*<()$;!D&<<4!;<<+1,=3:.1,>&##1!9VWRR!'/R!LkfdLke4!
E&9=&R!34d"4u!#787'R!F4u!:')==R!S4u!3*'<&(d6)?)'/R!F4u!:$B8&%R!#4u!F*7)%%$&'R!X4d,4u!5)<&?�&R!X4!,7%9p,7<<![E9$*]S)'.$(7'$;!";$-!#&'$?)($?&%!$+!#/&!,9*(*%&+%$($Z&-!1)-$;)<!)+-!D)($*+$;!,*</8&'$Z)($*+!1&);($*+%!>+-&'!MehwMhf!+8!5)%&'!S&)8%!*'!S<7&!52#%4!=*+:41,-3&41!DU9MR!'R!fkggdfkhe4!
E9*8)%R!V4!X4u!E9*8)%R!V4!:4u!3)+*WQ78)'R!E4!V4u!#)%R!64u!:&*'B&R!34!`4!D)($*+!S$+-$+B!)+-!,9*(*@9/%$;)<!,'*@&'($&%!*=!)!3*+*)Z)dLedD'*T+ded2(9&'!5$+Q&-!D/)+$+&!#/&4!=%*D1,@8AE"8,;D"A1,)DE1,X-3&41,)DE1Y!9VVOR!F6QR!LfhedLfkJ4!
E9*8@%*+R!S4!D4u!F'&;9&(R!X4!34!X4!,*</8&'dF7<<&'&+&!D*8@*%$(&!6*<)'!D&<<%4!;89&?1,-3&41,@8#1,7A1!DUUWR!'BR!ekdhh4!
E*7(;9Q$+&R!"4u!V')/+*?R!`4u!G)9+R!V4!6*<?&+(d6&+%$($?&!#/&%!(*!1&@*'(!,'*(&$+!D*+=*'8)($*+)<!D9)+B&%!$+!5$?$+B!D&<<%4!01,;41,-3&41,)*D1!DUUMR!F5GR!MLfJdMLMe4!
`&'&%R!X4u!CB$&'R!64!#4u!5&&8$+BR!64!_4u!D7@&'($+*R!#4!D4u!3*9$)<-$+!V9)==)=R!64!5*TdQ!H+%7<)(*'%!)%!(9&!D9*$;&!*=!#$&<&;('$;%!$+!C'B)+$;!F$&<-d2==&;(!E')+%$%(*'%4!;AC1,M$8D#1,2"#&%1!DUUMR!F(R!LiidJKM4!
`&'&%R!X4u!CB$&'R!64u!5<*/-R!:4u!-&!5&&7TR!#4!:)(&!H+%7<)(*'%!$+!C'B)+$;!F$&<-d2==&;(!E')+%$%(*'%4!-3&41,2"#&%1!DUUOR!FQR!MeMfdMeee4!
_)+BR!64u!G)<<R!54u!#$&?R!`4!`4u!G)$B&%R!14u!_&$R!:4u!o$)*R!o4u!#W7'*?$;9R!,4!H4u!F*''&%(R!64!14u!E9*8@%*+R!34!24!0R0d#$)'/<)+$<$+*%A7)')$+&%!)+-!E9&$'!"@@<$;)($*+!(*!C'B)+$;!,9*(*?*<()$;%4!-3&41,2"#&%1!DU99R!5(R!MhkidMhik4!
_&$R!:4u!o$)*R!o4u!_)+BR!64u!^$88&'8)+R!X4!#4u!67+R!V4u!#$&?R!`4!`4u!E9*8@%*+R!34!24u!F*''&%(R!64!14!"'/<)8$+&dS)%&-!6A7)')$+&!#*+*'%!=*'!>%&!$+!C'B)+$;!6*<)'!D&<<%4!!"8*,>&##&%.!DU99R!FFR!MJgLdMJgM4!
!
! Lgg!
_&$R!:4u!o$)*R!o4u!_)+BR!64u!67+R!V4u!S&'B&8)++R!V4!X4u!E9*8@%*+R!34!24u!F*''&%(R!64!14!F7+;($*+)<$Z&-!6A7)')$+&!#*+*'%!=*'!0)+*;'/%()<<$+&!C'B)+$;!,9*(*?*<()$;%4!;-),!"8*!DU99R!QR!ihJdihk4!
_&$R!j4u!E)W$8)R!V4u!G)%9$8*(*R!V4!S$<)/&'!"8.$@*<)'!C'B)+$;!E9$+dF$<8!E')+%$%(*'%!)+-!H+?&'(&'%!,'&@)'&-!./!(9&!D*+();(dF$<8dE')+%=&'!3&(9*-4!;-),;<<+1,2"#&%1,@8#&%P"D&.!DUUVR!FR!LkgedLkgk4!
_y9'<&R!#4u!3&$%%+&'R!#4!C'B)+$;!6*<)'!D&<<%4!;AC1,2"#&%1!9VV9R!(R!LJidLfk4!
_~'(9+&'R!F4u!_*'(8)++R!14u!3)(%;9$+&'R!14u!57Q)%Z7QR!V4u!3&&'9*<ZR!V4u!#&0)'-$+R!I4u!S$((+&'R!14u!S'{7;9<&R!D4u!6&+%R!14!3&'*;/)+$+&!#/&%!$+!(9&!D/)+$+&!5$8$(O!"!0&T!D<)%%!*=!D9'*8*@9*'&%!=*'!,9*(*'&=');($?&!3)(&'$)<%4!;89&?1,-3&41,@8#1,7A1!9VVTR!(QR!JhgedJhgk4!
o$)*R!o4u!_&$R!:4u!_)+BR!64u!^$88&'8)+R!X4!#4u!1&+%9)TR!D4!V4u!E9*8@%*+R!34!24u!F*''&%(R!64!14!68)<<d3*<&;7<&!,9*(*?*<()$;%!S)%&-!*+!F7+;($*+)<$Z&-!6A7)')$+&!#*+*'!S<&+-%4!;AC1,2"#&%1!DU9DR!5'R!LiegdLigK4!
I)+BR!F4!I4u!G%7R!34!I4u!GT)+BR!:4!_4u!D9)+BR!V4!X4!G$B9d,&'=*'8)+;&!@*</[fd9&Y/<(9$*@9&+&]!E*@d:)(&!E')+%$%(*'%!H+;*'@*')($+B!E$CJ!0)+*;*8@*%$(&!#$&<&;('$;%4!O%91,7+&D#%*81!DU9UR!FFR!kLdkk4!
I)+BR!64!I4u!69$+R!V4u!,)'QR!D4!24!E9&!2==&;(!*=!:)(&d#$&<&;('$;!67'=);&!2+&'B/!*+!,&+();&+&!3*'@9*<*B/!)+-!C'B)+$;!F$&<-d2==&;(!E')+%$%(*'!D9)');(&'$%($;%4!;AC1,M$8D#1,2"#&%1!DUUQR!FGR!LkKgdLkLM4!
I)+BR!o4u!5**%R!X4!E*T)'-!G$B9d,&'=*'8)+;&!,*</8&'!6*<)'!D&<<%O�!E9&!H8@*'()+;&!*=!3*'@9*<*B/!D*+('*<4!2"D%*4*+&D$+&.!DUUTR!'6R!LfefdLfgJ4!
I)*R! I4d64u! o$)*R! X4u!_)+BR! o4d64u! #&+BR! o4dS4u! ^9)+BR! S4d_4! 6()'.7'%(!#D3dE/@&!1&-d5$B9(d28$(($+B! 3)(&'$)<%! =*'! 2<&;('*<78$+&%;&+;&! "@@<$;)($*+%4! ;AC1, M$8D#1, 2"#&%1!DUURR!FQR!hKidhLk4!
I)%%)'R!"4u!3$*ZZ*R!54u!:$'*+-)R!14u!G*'*T$(ZR!:4!1*-pD*$<!)+-!"<<dD*+W7B)(&-!S<*;Q!D*@*</8&'%!=*'!,9*(*?*<()$;!"@@<$;)($*+%4!=%*91,=*+:41,)DE1!DU9MR!(/R!hiLdkMM4!
I**+R!34dG4u!F);;9&(($R!"4u!6(&'+R!D4!24u!3)'Q%R!E4!X4!F<7*'*;)'.*+d3*-$=$&-!C'B)+$;!6&8$;*+-7;(*'%O�!3*<&;7<)'!"';9$(&;(7'&R!2<&;('*+$;R!)+-!D'/%()<!6('7;(7'&!E7+$+B!*=!"'&+&d!?&'%7%!F<7*'*)'&+&dE9$*@9&+&!C<$B*8&'!E9$+dF$<8!,'*@&'($&%4!01,;41,-3&41,)*D1!DUURR!F5/R!ehiJdekKL4!
I**+R!34dG4u!#$S&+&-&((*R!64!"4u!17%%&<<R!34!E4u!F);;9&(($R!"4u!3)'Q%R!E4!X4!G$B9d,&'=*'8)+;&!+dD9)++&<!D)'.*+/<dF7+;($*+)<$Z&-!j7)(&'(9$*@9&+&!6&8$;*+-7;(*'%O�!E9$+dF$<8!E')+%$%(*'!1&%@*+%&!)+-!3)W*'$(/!D)''$&'!E/@&!H+?&'%$*+!?$)!6$8@<&!D9&8$;)<!,'*(&;($*+w#&@'*(&;($*+4!-3&41,2"#&%1!DUUTR!FKR!MkgMdMkkL4!
!
! Lgh!
I7R!:4u!:)*R!X4u!G788&<&+R!X4!D4u!_7-<R!F4u!G&&B&'R!"4!X4!,*</8&'!,9*(*?*<()$;!D&<<%O!2+9)+;&-!2==$;$&+;$&%!?$)!)!0&(T*'Q!*=!H+(&'+)<!#*+*'d";;&@(*'!G&(&'*W7;($*+%4!)DE&8D&!9VVQR!5'6R!LhkidLhiL4!
I7&R!_4u!^9)*R!I4u!69)*R!64u!E$)+R!G4u!o$&R!^4u!:&+BR!I4u!_)+BR!F4!0*?&<!0H1d".%*'.$+B!D*+W7B)(&-!,*</8&'%!=*'!2==$;$&+(!,*</8&'!6*<)'!D&<<%O!2==&;(!*=!"<Q/<!D9)$+!5&+B(9!*+!#&?$;&!,&'=*'8)+;&4!01,2"#&%1,-3&41!DUUVR!FKR!JLiidJJKg4!
^9)+BR!F4u!6?&+%%*+R!34u!"+-&'%%*+R!34!14u!3)BB$+$R!34u!S7;&<<)R!64u!3&++)R!24u!H+B)+{%R!C4!6*<7.<&!,*</(9$*@9&+&%!T$(9!,&+-)+(!F7<<&'&+&!:'*7@%!)%!#*7.<&!D).<&!3)(&'$)<%!=*'!,9*(*-$*-&%4!;AC1,2"#&%1!DUU9R!F(R!LkhLdLkhM4!
^9)+BR!F4u!X&%@&'%&+R!V4!:4u!SWy'%('y8R!D4u!6?&+%%*+R!34u!"+-&'%%*+R!34!14u!67+-%('y8R!`4u!3)B+7%%*+R!V4u!3**+%R!24u!I)'(%&?R!"4u!H+B)+{%R!C4!H+=<7&+;&!*=!6*<?&+(!3$Y$+B!*+!(9&!3*'@9*<*B/!)+-!,&'=*'8)+;&!*=!6*<)'!D&<<%!S)%&-!*+!,*</=<7*'&+&!D*@*</8&'wF7<<&'&+&!S<&+-%4!;AC1,M$8D#1,2"#&%1!DUURR!FQR!gghdghM4!
^9)+BR!^4u!";9$<&=7R!64!#&%$B+R!6/+(9&%$%!)+-!2?)<7)($*+!*=!0&)'dH+=')'&-!F<7*'&%;&+(!@G!H+-$;)(*'%!$+!)!,9/%$*<*B$;)<</!1&<&?)+(!1)+B&4!-3&41,-*44$81!DUUQR!ekkhdekki4!
^9)+BR!^4d:4u!_)+BR!X4!6('7;(7'&%!)+-!,'*@&'($&%!*=!D*+W7B)(&-!#*+*'d";;&@(*'!D*@*</8&'%!=*'!6*<)'!D&<<!"@@<$;)($*+%4!01,2"#&%1,-3&41!DU9DR!55R!MLhkdMLkh4!
^9)*R!G4u!E)+W7(;*R!D4u!E9)/78)+)?)+R!64!#&%$B+!)+-!6/+(9&%$%!*=!6().<&!E'$)'/<)8$+&%!=*'!G*<&dE')+%@*'(!"@@<$;)($*+%4!L&#%"3&A%*8,>&##1!DUU9R!'5R!MMJLdMMJM4!
^9*7R!G4u!I)+BR!54u!,'$;&R!64!D4u!V+$B9(R!V4!X4u!I*7R!_4!2+9)+;&-!,9*(*?*<()$;!,&'=*'8)+;&!*=!5*TdS)+-B)@!,*</8&'%!T$(9!#&&@!5>3C!5&?&<%4!;89&?1,-3&41,@8#1,7A1!DU9UR!'KR!hiiJdhiie4!
^9*7R!G4u!I)+BR!54u!6(*+&Q$+BR!64u!I*7R!_4!"!_&)Q!#*+*'|6('*+B!";;&@(*'!6(')(&B/!(*!#&%$B+!H-&)<!,*</8&'%!=*'!C'B)+$;!6*<)'!D&<<%4!;-),;<<+1,2"#&%1,@8#&%P"D&.!DU9UR!5R!LfhhdLfkf4!
^9*7R!G4u!I)+BR!54u!6(7)'(R!"4!D4u!,'$;&R!64!D4u!5$7R!64u!I*7R!_4!#&?&<*@8&+(!*=!F<7*'$+)(&-!S&+Z*(9$)-$)Z*<&!)%!)!6('7;(7')<!>+$(!=*'!)!,*</8&'!6*<)'!D&<<!*=!ht!2==$;$&+;/4!;89&?1,-3&41,@8#1,7A1!DU99R!G6R!JiiedJiik4!
^9*7R!G4u!I)+BR!54u!I*7R!_4!1)($*+)<!#&%$B+!*=!G$B9!,&'=*'8)+;&!D*+W7B)(&-!,*</8&'%!=*'!C'B)+$;!6*<)'!D&<<%4!2"D%*4*+&D$+&.!DU9DR!'GR!gKhdgfJ4!
^97R!o4dG4u!,&+BR!X4u!D)*R!I4u!1*+;)<$R!X4!6*<7($*+d,'*;&%%).<&!6$+B<&d3)(&'$)<!3*<&;7<)'!28$((&'%!=*'!C'B)+$;!5$B9(d28$(($+B!#&?$;&%4!-3&41,)*D1,H&C1!DU99R!'6R!feKidfeJM4!
!
! Lgk!
^$&<Q&R!#4u!"'?&-R!D4!G4u!G)9+R!>4u!S')+-(R!04u!S)'(Z%;9R!34u!F7B8)++R!>4u!F$%;9&'R!E4u!`&'&%R!X4u!CB$&'R!64!,*</8&'dS)%&-!C'B)+$;!F$&<-d2==&;(!E')+%$%(*'!>%$+B!C==%&(!,'$+(&-!6*7';&w#')$+!6('7;(7'&%4!;<<+1,=3:.1,>&##1!DUUQR!/BR!LJfeKkdLJfeLK4!
!
!
!