All About Technical Analysis

)*#+%,(!#'-$,'(7-$"+%,(.
8$%%'9; @A4
6?/':C,&B$#,"',-'@?%A/A'4#$?#"'$?/'8,C#"<'DC/+%</'6+%3#"<
E?%""/&
D'E&%AA#2'6,;;#"<'=,+7%$#,"'$,':"3'%'8%X,+'0B&&'8%+9/$
09,,*$*1'%Q3(+*+%R9'391%'3*%-";91)%.;*$()*%<$(291)%/3(11*7
=(+2(>%/"?:"+9'*E%0(975 / J
,55 ,55
L@I$D/0J . K I
!,5 !,5
0 -
8 !
!55
L !55
N
>G?8/:$B&K601$CK"'/1"
7,5 ?@I$D/0J 7,5
9)5
M U 9)5
85 85
65 65
,5 ,5
!5 CSG0(5%T&I%I1296('"$ !5
75 75
+55 +55
5 5
CFGHFG0(5%-./0%I1296('"$
7 )5 )0 +! 7) 8 )! ++ +0 6 )7 +5 +8 7 )5 )8 +! )
+555 "#$%&'%( -'%./ 12%34 -'%./
!"#$%&=() 6?/'=#"%&'6+%"A#$#,"'-+,7'%'0B&&'$,'0/%+'8%+9/$I'6?/'F%A3%L'E,7;,A#$/>'JKKK
T;$<,:*6#E$8079$6+?76$,;$+7<+)+#71$-07?#*$#8#*?#-$06$1"#$6)#<:A01+=#$J:AA$80*>#1$,;
1"#$%&&'6$-*#B$1,$07$#7-$-:*+7?$%&&&$07-$4'''3$W#$"0=#$*#=+#B#-$J*#0-1"$;0+A:*#6
1"01$ 1,,>$ )A0<#$ -:*+7?$ 1"+6$ )#*+,-3$ K:7-08#710A$ =0A:01+,76$ +7-+<01#-$ ?*,66$ ,=#*H
)*+<+7?$,;$61,<>6$J06#-$:),7$-+=+-#7-$)09,:1E$#0*7+7?6E$07-$J,,>$=0A:#$*#A01+,7H
6"+)6$1,$61,<>$)*+<#63$R7=#61,*6E$J,1"$0801#:*$07-$)*,;#66+,70AE$"0-$J#<,8#$"+?"A9
6)#<:A01+=#E$B+1"$+71#*#61$<#71#*+7?$A0*?#A9$,7$1#<"7,A,?9$07-$R71#*7#1$+66:#63$C079E
+;$ 7,1$ 8,61E$ 61:-#716$ ,;$ 1"#$ 61,<>$ 80*>#1$ *#<,?7+e#-$ 1"#$ #F<#66#6$ ,;$ 1"#$ -09E$ J:1
8079$B#*#$0;*0+-$1,$A#0=#$1"#$)0*19$1,,$6,,73$
C,=+7?$0=#*0?#$1*0-+7?$<"077#A6E$",B#=#*E$)*,=+-#-$#F<#AA#71$6+?70A6$1,$#F+1$1"#
;*09E$ 06$ ;+7#$07$ 0**09$,;$#F+1$B0*7+7?6$06$B#$8+?"1$#=#*$#F)#<13$f#1i6$ 1:*7$ 7,B$ 1,
/"0*1$&343
@3A 7'&8%+&$9(!%$9:;+;
E?%+$'YMJI'6?/'!"<+/3#/"$A'
/"0*1$&34$6",B6$0$%VH-09$8,=+7?$0=#*0?#$,;$1"#$b06-0O$/,8),6+1#E$07-$0$8,=+7?
0=#*0?#$1*0-+7?$<"077#A$<*#01#-$B+1"$1*0-+7?$J07-6$Ia$0J,=#$07-$Ia$J#A,B$1"#$%VH
-09$8,=+7?$0=#*0?#3$M#7#01"$1"#$)*+<#$07-$8,=+7?$0=#*0?#$<"0*1$+6$0$<"0*1$,;$1"#
%VH-09$ ^#A01+=#$ S1*#7?1"$ R7-+<01,*$ .^SR5E$ 0$ 8#06:*#$ ,;$ 80*>#1$ 8,8#71:83$ M#A,B
1"01$+6$1"#$7,BH;08+A+0*$%&H$1,$N&H-09$C@/D$R7-+<01,*E$1"#$<,8J+701+,7$8,61$,;1#7
#8)A,9#-$;,*$6#AA+7?$):*),6#63$
R7$0--+1+,7$1,$#F08+7+7?$*#A01+,76"+)6$J#1B##7$1"#$8,=#8#71$,;$)*+<#$07-$1"#
8,=#8#71$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#AE$B#$B+AA$J#$<,76+-#*+7?$*#A01+,7H
6"+)6$ 08,7?$ )*+<#E$ 1"#$ 8,=+7?$ 0=#*0?#$ 1*0-+7?$ <"077#AE$ 07-$ 1"#6#$ 1B,$ ),):A0*
8#06:*#6$ ,;$ 80*>#1$ 8,8#71:8E$ 1"#$ ^SR$ 07-$ C@/D3$ !"#$ ^SR$ B06$ -#=#A,)#-$ J9
W#AA#6$W+A-#*$.0:1",*$ ,;$!"#$%&'(")*+$ ,'$-"(.',(/0$1'/02+,+5$-:*+7?$1"#$A01#$%&d'6E
07-$+1$*#80+76$08,7?$1"#$8,61$),):A0*$1#<"7+<0A$+7-+<01,*63
T:*$070A96+6$,;$1"#$;+*61$8,71"6$,;$9#0*$4'''$J#?+76$B+1"$0$7#B$*:A#$*#?0*-+7?
1*0-+7?$<"077#A6Y
?0,-&UA&RG&#&C#$B-%&%;E&;$&C#$B-%&,;D&48F45#%-F&+1&%"-&#5%4;8&;G&E$45-&C;J-H
C-8%& D4%"48& %"-& C;J48I& #J-$#I-& %$#F48I& 5"#88-,& 4<& 5;8G4$C-F& +1& <0EE;$%48I
%-5"845#,&48F45#%;$<L&%"-&;FF<&;G&#&%$-8F&$-J-$<#,&%#B48I&E,#5-&485$-#<-(&K <18-$H
I4<%45&#EE$;#5"&%;&%$#F48I&+#8F<&4<&F-G484%-,1&0<-G0,(&
f#1i6$7,B$6##$1"#$0))A+<01+,7$,;$1"+6$*:A#3
W%"B%+)'JKKKI'6?/'0B&&'8%+9/$'#"'F%A3%L'8,C/A'D&,"<'*$/%3#&)'
!"#$b06-0O$610*1#-$1"#$9#0*$4'''$+7$0$O:+#1$J:1$61#0-9$:)1*#7-E$B+1"$)*+<#6$*+6+7?
O:+#1A9E$7#+1"#*$*#0<"+7?$1"#$:))#*$J07-$,;$1"#$1*0-+7?$<"077#A$7,*$-#<A+7+7?$1,$06
A,B$06$1"#$A,B#*$J07-3$!"#$8,=+7?$0=#*0?#$+16#A;$B06$:)1*#7-#-3$S:)),*1+7?$1#<"H
7+<0A$+7-+<01,*6$*#;A#<1#-$1"#$O:+#1$61*#7?1"$,;$1"#$b06-0O$/,8),6+1#Y$!"#$^SR$B06
8,=+7?$B+1"+7$0$J:AA+6"$*07?#$J#1B##7$['$.7#:1*0A5$07-$d'$.61*,7?$:)6+-#$8,8#7H
1:853$C@/D$)011#*76$0A6,$1*0=#A#-$+7$0$;A01$J:1$),6+1+=#$0*#0E$<A#0*A9$0J,=#$'3$
@7$+8)*,=#8#71$+7$61*#7?1"$-#=#A,)#-$+7$K#J*:0*9$06$)*+<#6$*#0<"#-$1"#$:))#*
J,:7-0*9$ ,;$ 1"#$ 1*0-+7?$ <"077#A$ .@*#0$ @5E$ 07$ 0<<,8)A+6"8#71$ *#;A#<1#-$ J9
+8)*,=#8#716$ +7$ J,1"$ 1"#$ ^SR$ 07-$ 1"#$ C@/D3$ S:*#$ #7,:?"E$ 1"#$ -#<A+7#$ ;*,8$@
;,:7-$6:)),*1$01$1"#$<#71#*$A+7#$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#AE$ME$.^:A#$V5
J#;,*#$610*1+7?$:)B0*-$0?0+73$
!"#$0-=07<#$1,$1"#$;+70A$)#0>$01$/$B06$;0+*A9$?*0-:0A$J:1$61#0-93$@A1",:?"$1"#
6A,)#$,;$1"#$0-=07<#$;*,8$M$1,$/$B06$8,-#*01#E$1"#$;+70A$"+?"$),+71$./5$B06$<,7H
;+*8#-$J9$J,1"$1"#$^SR$07-$1"#$C@/DE$6,$1"#*#$B06$7,$*#0AA9$<A#0*$B0*7+7?$,;$1"#
+7+1+0A$J#0*$80*>#1$-#<A+7#$1"01$-+*#<1A9$1,,>$)*+<#6$J#A,B$1"#$8,=+7?$0=#*0?#$A+7#
,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#A$1,$DE$7,1$O:+1#$1,$1"#$A,B#*$J07-E$J:1$J#A,B
1"#$ 8,=+7?$ 0=#*0?#$ <#71#*$ A+7#E$ 0$ )#7#1*01+,7$ B0*7+7?$ 1"01$ 6,8#1"+7?$ 8+?"1$ J#
?,+7?$08+663
D+/%':I'6?/'=B"'%"3'U%7/A',-'$?/'0B&&'8%+9/$'E,7/'$,'%"':"3
P*+<#6$1*0<#-$,:1$0$-,:JA#HJ,11,8$;,*801+,7$J#;,*#$1"#9$*,6#$0?0+7E$1"+6$1+8#$1,$\E
07$0*#0$<A,6#$1,$J:1$7,1$01$1"#$:))#*$J07-$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#A3
!"#$;0+A:*#$,;$1"#$b06-0O$/,8),6+1#$1,$*#0<"$1"#$:))#*$J07-$01$\$0;1#*$0<<,8)A+6"H
+7?$1"+6$106>$01$@*#0$/$B06E$+7$+16#A;E$0$6#*+,:6$B0*7+7?$,;$1*,:JA#$1,$<,8#3
)*#+%,(!#'-$,'(7-$"+%,(.8$%%'9; @33
?0,-&'A&RG&#&C#$B-%&E-#B&G#4,<&%;&5#$$1&#<&"4I"&#<&#&E$-J4;0<&C#$B-%&E-#BL&%"-
;FF<&#$-&I;;F&%"#%&%"-&8-P%&F-5,48-&D4,,&5#$$1&%;&#&,-J-,&+-8-#%"&%"-&,-J-,&;G
%"- ,;D&#$-#&+-%D--8&%"-&%D;&E-#B<(&RG&#&C#$B-%&,;D&4<&G;,,;D-F&+1&#&,;D-$&,;DL&%"-
;FF<&#$-&%"#%&#&G;,,;D48I&$#,,1&D4,,&8;%&$4<-&#+;J-&%"-&E-#B&,-J-,&;G&%"-&$#,,1&%"#%
%;;B&E,#5-&+-%D--8&%"-&%D;&,;D<(&
C,*#,=#*E$06$)#*$^:A#$dE$6:)),*1+7?$1#<"7+<0A$+7-+<01,*6$)*,=+-#-$;:*1"#*$B0*7H
+7?$ ,;$ +7<+)+#71$ )*,JA#86$ 1,$ <,8#3$ K,*$ #F08)A#E$ 1"#$ ^SR$ +7-+<01,*$ ;0+A#-E$ 01$ \E$ 1,
*#0<"$ *#<#71$ )#0>$ A#=#A6E$ +7-+<01+7?$ -+8+7+6"+7?$ :)6+-#$ 8,8#71:83$ b,1+<#$ 1"#
-+=#*?#7<#$J#1B##7$)*+<#$07-$^SR3$P*+<#$A#=#A6$B#*#$7#0*A9$06$"+?"$01$\$06$01$/Q$",BH
#=#*E$^SR$A#=#A6$<A#0*A9$-+8+7+6"#-$J#1B##7$)*+<#$)#0>6$S+8+A0*A9E$C@/D$)011#*76
1:*7#-$-,B7$#=#7$06$1"#$)*+<#$"+?"6$,;$#0*A9$C0*<"$B#*#$J#+7?$0))*,0<"#-3$!"#$%&H
1,$N&H-09$C@/D$A+7#$;#AA$J#A,B$+16$6+?70A$A+7#E$1*0<+7?$,:1$0$-#<A+7+7?$-,:JA#H1,)
;,*801+,7$06$1"#$61,<>$80*>#1$-#<A+7#-$;*,8$@*#0$\3
@ -#<A+7#$ 1,$ J#A,B$ 1"#$ A,B6$ ,;$@*#0$ DE$ )*,J0JA9$ 1,$ 1"#$ A,B#*$ J,:7-0*9$ ,;$ 1"#
1*0-+7?$ <"077#AE$ 07-$ ),66+JA9$ 0$ 6+?7+;+<071$ 1*#7-$ *#=#*60A$ B06$ 1,$ J#$ #F)#<1#-$ ;,*
1"#6#$*#06,76Y
g$!"#$*0AA9$1,$\$;0+A#-$1,$*#0<"$1"#$A#=#A6$,;$1"#$*0AA9$1,$/3$!"+6$6:??#61#-$1"01$
1"#$#76:+7?$80*>#1$-#<A+7#$B,:A-$<0**9$1,$J#A,B$1"#$A,B6$,;$@*#0$DE$1"#$A,B6$
1"01$;,AA,B#-$:),7$1"#$*0AA9$1,$/$.^:A#$253$
g$S:)),*1+7?$1#<"7+<0A$+7-+<01,*6$.^SR$07-$C@/D5$"0-$J,1"$1*0<#-$,:1$-#<A+7+7?
"+?"6$.^:A#$d53$
g$S#AA+7?$0<1+,7$B,:A-$J#$+7-+<01#-$07-$:7-#*10>#7$06$1"#$)*+<#$A#=#A$,;$1"#$
b06-0O$/,8),6+1#E$^SRE$07-$C@/D$*#0-+7?6$1:*7#-$-,B7$-:*+7?$1"#$1"+*-$
B##>$,;$C0*<"3$
D+/%'=I'6+/"3'(/C/+A%&'!A'E,"-#+7/3'%"3'E,7;&/$/3
!"#$b06-0O$/,8),6+1#$-+-$-#<A+7#$1,$J#A,B$@*#0$DE$1,$1"#$J,11,8$J07-$,;$1"#
8,=+7?$0=#*0?#$1*0-+7?$<"077#AE$@*#0$K3$!"+6$-#<A+7#$<,7;+*8#-$1"01$01$A#061$07
+71#*8#-+01#$ *#=#*60A$ +7$ 1*#7-$ "0-$ 10>#7$ )A0<#Y$ A,B#*$ "+?"6$ ,;$ /(\E$ 07-$ A,B#*
A,B6$,;$D(K3
@<<,*-+7?$1,$^:A#6$4$07-$NE$B#$8+?"1$"0=#$#F)#<1#-$)#*"0)6$0$*#<,=#*9$1,$1"#
<#71#*$A+7#$,;$1"#$8,=+7?$0=#*0?#$<"077#AE$J:1$1"#$011#8)1$01$*#<,=#*9$;*,8$K$1,$m
)*,-:<#-$=+*1:0AA9$7,1"+7?$+7$1"#$B09$,;$:)6+-#$*#1*0<#8#71$J#;,*#$)*+<#6$-#<A+7#-
1"*,:?"$ 1"#$ J,11,8$ J07-$ ,;$ 1"#$ 8,=+7?$ 0=#*0?#$ 1*0-+7?$ <"077#A$ 1,$@*#0$ LE$ B#AA
J#A,B$ 1"#$ 8,=+7?$ 0=#*0?#$ A,B#*$ J,:7-0*93$ !"+6$ +7-+<01#-$ +7<*#06+7?$ -,B76+-#
8,8#71:83
@*#0$L$)*,-:<#-$0$6",*1H1#*8$80*>#1$0-=07<#$.^:A#$%5$1"01$61,))#-E$06$#F)#<1H
#-E$01$1"#$<#71#*$A+7#$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#A3$!"01$B06$?,,-$#7,:?"E
),66+JA9E$;,*$07$0??*#66+=#$6",*1H1#*8$1*0-#*E$7,1$7#0*A9$#7,:?"$1,$<,7;+*8$0$*#=#*H
60A$,;$B"01$B06$J#<,8+7?$0$6#*+,:6$-,B71*#7-3$
!"#$6",*1HA+=#-$*#<,=#*9$1,$1"#$<#71#*$A+7#$.R5$B06$;,AA,B#-$J9$0$*#7#B#-$80*H
>#1$-#<A+7#$1,$@*#0$GE$;0*$J#A,B$1"#$A,B#*$J,:7-0*9$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?
@3@ 7'&8%+&$9(!%$9:;+;
<"077#A3$!"#$-#<A+7#$)*,-:<#-$=#*9$,=#*6,A-$*#0-+7?6E$06$;0*$06$)*+<#$*#A01+,76"+)6
1,$8,=+7?$0=#*0?#6$B#*#$<,7<#*7#-$.)*+<#6$=#*9$;0*$J#A,B5E$+7$1"#$^SR$.1"#$N'$A#=#A
+6$0$"+?"A9$,=#*6,A-$A#=#A5E$07-$+7$1"#$C@/D$.7,B$O:+1#$#F1#7-#-$+7$7#?01+=#$1#**+H
1,*953$L,B#=#*E$-,B76+-#$8,8#71:8$*#80+7#-$=#*9$"+?"3
6?/'1/C/&,;7/"$',-'%'0,$$,7'=,+7%$#,"'
!"#$b06-0O$/,8),6+1#$;+70AA9$;,:7-$6:)),*1$01$@*#0$G$07-$0-=07<#-$*0)+-A9$1,$nE
B"#*#$+1$8#1$*#6+6107<#$01$1"#$A,B#*$J,:7-0*9$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"07H
7#A$.^:A#$453$
P*+<#6$-+))#-$0$A+11A#$;*,8$@*#0$n$1,$@*#0$fE$B+1"$1#<"7+<0A$)011#*76$+8)*,=+7?
<,76+-#*0JA9$ +7$ 1"#$ )*,<#663$ M#1B##7$ G$ 07-$ fE$ 1"#$ ^SR$ 1*0<#-$ ,:1$ 0$ J:AA+6"$ *+6+7?
-,:JA#HJ,11,8$ ;,*801+,73$ !"#$ ?0)$ J#1B##7$ 1"#$ C@/D$ 07-$ +16$ 6+?70A$ A+7#$ 70*H
*,B#-$-:*+7?$1"+6$)#*+,-E$B+1"$1"#$C@/D$1:*7+7?$:)$06$)*+<#6$*0AA+#-$;*,8$@*#0
f3$!"#$6A,)#$,;$1"#$8,=+7?$0=#*0?#$<"077#AE$B"+<"$"0-$J##7$6"0*)A9$-,B71*#7-H
#-E$ 8,-#*01#-E$ <,7;+*8+7?$ 0$ B#0>#7+7?$ ,;$ -,B76+-#$ 8,8#71:83$ K+70AA9E$ 1"#
b06-0O$/,8),6+1#$+16#A;$-+-$7,1$-#<A+7#$06$;0*$J#A,B$1"#$8,=+7?$0=#*0?#$J07-$01
f 06$+1$"0-$01$G3$
W+1"$@*#0$f -#=#A,)+7?$01$0$"+?"#*$A#=#A$1"07$@*#0$GE$+1$B06$7,1$6:*)*+6+7?$1,$6##
1"#$*0AA9$;*,8$f *+6#$1,$CE$0J,=#$1"#$A#=#A6$,;$@*#0$nE$B"+<"$"0-$;,AA,B#-$:),7$1"#
0-=07<#$;*,8$G3$@ )011#*7$,;$"+?"#*$A,B6E$G(fE$07-$"+?"#*$"+?"6E$n(CE$B06$7,B$+7
)A0<#E$*#=#*6+7?$1"#$+71#*8#-+01#$-#<A+7#$1"01$"0-$J##7$+7$)A0<#3
W#$<07$A#0*7$1"#6#$A#66,76$;*,8$/"0*1$&34Y
g$!"#$A,<01+,76$,;$)*#=+,:6$80*>#1$1:*7+7?$),+716$+7$*#A01+,7$1,$1"#$8,=+7?$0=#*H
0?#$1*0-+7?$<"077#A$,;1#7$)*,=+-#$*,0-80)6$1,$6:J6#O:#71$80*>#1$0<1+,73$
g$@6$0$?#7#*0A$*:A#E$0?0+7E$0-=07<#6$1,$,*$0J,=#$1"#$:))#*$J,:7-0*+#6$,;$8,=+7?$
0=#*0?#$1*0-+7?$<"077#A6$0*#$A+>#A9$1,$J#$;,AA,B#-$J9$*#0<1+,76$1"01$B+AA$;+7-$
6:)),*1$01$1"#$<#71#*$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#A3
g$S+8+A0*A9E$-#<A+7#6$1,$,*$#6)#<+0AA9$J#A,B$1"#$A,B#*$J,:7-0*+#6$,;$1"#$8,=+7?$
0=#*0?#$1*0-+7?$<"077#A$0*#$A+>#A9$1,$8##1$+7+1+0A$*#6+6107<#$01$1"#$<#71#*$A+7#$,;$
1"#$8,=+7?$0=#*0?#$<"077#A3
g$@-=07<#6$1,$B#AA$0J,=#$,*$-#<A+7#6$1,$B#AA$J#A,B$1"#$8,=+7?$0=#*0?#$J,:7-H
0*+#6$8+?"1$8##1$6:)),*1$,*$*#6+6107<#$.*#6)#<1+=#A95$01$1"#$J,:7-0*+#6$,;$1"#$
<"077#A3
g$C0*>#1$0-=07<#6$1"01$<*,66$1"#$<#71#*$A+7#6$,;$1"#$<"077#A$+7$#+1"#*$-+*#<1+,7$
"0=#$01$A#061$0$;0+*$<"07<#$,;$;,AA,B+7?$1"*,:?"$1,$1"#$<"077#A$J,:7-0*93$
g$/,7;+*8$8,=+7?$0=#*0?#$<"077#A$)011#*76$B+1"$,1"#*$1#<"7+<0A$+7-+<01,*63
8,C#"<'DC/+%</'E?%""/&A'%"3'$?/'8%X,+'6+/"3
f+>#$1"#$C@/DE$8,=+7?$0=#*0?#$1*0-+7?$<"077#A6$<07$J#$#8)A,9#-$1,$*#;A#<1$80Z,*H
06$B#AA$06$+71#*8#-+01#H$07-$6",*1H1#*8$80*>#1$1*#7-63$C,71"A9$J06#-$<"0*16$<07$J#
#8)A,9#-$;,*$1"+6$):*),6#3$
)*#+%,(!#'-$,'(7-$"+%,(.8$%%'9; @35
C0*>#1$ +7-+<#6$ 6:<"$ 06$ 1"#$ S107-0*-$ h$ P,,*i6$ [''$ R7-#F$ 07-$ 1"#$ bXS\$ R7-#F
.6",B7$ "#*#E$ 0-Z:61#-$ 1,$ *#;A#<1$ <"07?#6$ +7$ +16$ <0A<:A01+,75$ )#*;,*8#-$ 61*,7?A9
J#1B##7$%&&[$07-$#0*A9$%&&&3$W#$B+AA$1*0<>$1"#$80Z,*$)#*08J:A01+,76$1"01$0))#0*$+7
/"0*1$&3N3
09,,*$*1'%Q3(+*+%R9'391%'3*%-";91)%.;*$()*%<$(291)%/3(11*7
K
855
J 855
665 !"#$%&'()'*+,-.%/'0,123 I L 665
6+5 / 6+5
,05 N ,05
,!5 . ! ,!5
L>>I$D/0J 0
,55 ,55
!65 M !65
!+5
8 U !+5
705 705
7!5
=>?B&0*.$B&K601$CK"'/1" 7!5
755 ?>>I$D/0J 755
+65 +65
05 05
85 85
65 65
,5 ,5
DBE?E=F#9;)!?-<=>/
!5 !5
)+ )+
0 0
! )*:7*;-<=>/?-1@A:?*;-<=>/?B3C='4 !
5 5
6 )**8 )**0 )*** +555 +55) +55+
!"#$%&=(N D'P,"<56/+7'8,C#"<'DC/+%</'6+%3#"<'E?%""/&I'6?/'F.*:'!"3/H>'8,"$?&)
0%A/3>'SYYZ[JKKJ
SYYZ[SYY\I'*$+,"<'0B&&#A?'N;$?+BA$'
!"#$ 61,<>$ 80*>#1$ B06$ 61*,7?A9$ :)1*#7-#-$ J#1B##7$ %&&I$ 07-$ 8+-H%&&23$ P*+<#6
1*0<>#-$ B#AA$ 0J,=#$ 1"#$ :))#*$ J,:7-0*9$ ,;$ 1"#$ 4%H8,71"$ 8,=+7?$ 0=#*0?#$ 1*0-+7?
<"077#AE$ -#<A+7#6$ ;,:7-$ 6:)),*1$ 01$ 1"#$ :))#*$ J,:7-0*9E$ 07-$ 61*#7?1"$ +8)*,=#-
1"*,:?"$@*#0$@ :71+A$0$;+70A$-,:JA#H1,)$;,*801+,7$-#=#A,)#-3$
6?/'=#+A$'E,++/2$#,"'*$,;A'%$'$?/'E/"$/+'E?%""/&'P#"/'
@ 8,*#$ 6#*+,:6$ 80*>#1$ <,**#<1+,7$ -#=#A,)#-$ -:*+7?$ 1"#$ 6:88#*$ ,;$ %&&23
R71#*#61+7?A9$#7,:?"E$1"+6$61,))#-$*+?"1$01$1"#$<#71#*$<"077#A$A+7#$.M5$,;$1"#$80Z,*H
1#*8$<"0*1E$07$#F08)A#$,;$1"#$J#7#;+1$,;$80+710+7+7?$A,7?#*H1#*8$06$B#AA$06$6",*1#*H
1#*8$8,=+7?$0=#*0?#$<"077#A$<0A<:A01+,76$07-$<"0*163$
@36 7'&8%+&$9(!%$9:;+;
(/AB+</"2/',-'8%+9/$'D3C%"2/'
P*+<#6$ *#<,=#*#-$ ;*,8$ ME$ 1"#$ <#71#*$ <"077#A$ A+7#E$ 8,=+7?$ J0<>$ :)B0*-$ 1,$ /E$ 07-
1*0<>+7?$0?0+7$0J,=#$1"#$:))#*$J07-$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#AUJ:1
7,1$06$;0*$0J,=#$1"#$<"077#A$06$1"#9$"0-$1*0<>#-$+7$@*#0$@3$@?0+7E$)*+<#$-#<A+7#6$+7+H
1+0AA9$B#*#$6:)),*1#-$01$1"#$:))#*$J07-E$07-$0$-#<A+7#$+7$A01#$%&&&$;,:7-$6:)),*1$01
1"#$8+-<"077#A$A+7#$.D53$
6/2?"#2%&'4%+"#"<A'1/C/&,;'
@A1",:?"$ )*+<#$ A#=#A6$ *#0<"#-$ 7#B$ "+?"6$ +7$@*#0$ /E$ 0$ 7:8J#*$ ,;$ 7#?01+=#$ -+=#*H
?#7<#6$1"01$"0-$-#=#A,)#-E$6:??#61+7?$+7<*#06+7?$-07?#*$1,$1"#$80Z,*$:)1*#7-Y
g$R7$@*#0$/E$)*+<#$A#=#A6$,;$1"#$bXS\$R7-#F$-+-$7,1$*+6#$06$;0*$0J,=#$1"#$:))#*$
J,:7-0*9$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#A$06$1"#9$"0-$*+6#7$+7$@*#0$@3$
!"+6$;0+A:*#$<,761+1:1#6$0$8,=+7?$0=#*0?#$1*0-+7?$<"077#A$7#?01+=#$-+=#*?#7<#3
g$!"#$%VH8,71"$^SR$1*0<#-$,:1$0$-#<A+7+7?$-,:JA#$1,)$06$@*#0$/$-#=#A,)#-E$
*#;A#<1+7?$-+8+7+6"+7?$:)6+-#$)*+<#$8,8#71:83
g$!"#$%&H$1,$N&H8,71"$C@/D$;0+A#-$1,$<,7;+*8$7#B$80*>#1$"+?"6$06$B#AA3$!"#$
?#7#*0A$)+<1:*#$6:??#61#-$1"01$1"#$80*>#1$0-=07<#$B06$801:*+7?E$1"#$610*1$,;$0$
S10?#$N$-+61*+J:1+,7$)#*+,-3
6?/'6,;'=,+7%$#,"'8,C/A'D&,"<
!"#$-#<A+7#$;*,8$@*#0$/$0?0+7$;,:7-$6:)),*1$01$1"#$4%H8,71"$8,=+7?$0=#*0?#$A+7#
.D53$ P*+<#6$ 1"#7$ *,6#$ 1,$ \E$ 1"#$ :))#*$ <"077#A$ J,:7-0*9Q$ -#<A+7#-$ 1,$ KE$ 1"#$ <#71#*
<"077#A$A+7#Q$07-$*#<,=#*#-$1,$mE$7,1$O:+1#$01$1"#$:))#*$J,:7-0*93$
!"#$;0+A:*#$,;$1"#$61,<>$80*>#1$1,$*#0<"$1"#$:))#*$J07-$6:??#61#-$1"01$1"#$7#F1
-#<A+7#$B,:A-$)#7#1*01#$1"#$<#71#*$,*$8+-<"077#A$A+7#Q$1"+6$B06$1"#$<06#$-:*+7?$1"#
6:J6#O:#71$-#<A+7#$;*,8$m$1,$L3$
8%X,+'1,G"$+/"3'U/$A'*/+#,BA&)'N"3/+G%)'
!"#$A,7?H1#*8$8,=+7?$0=#*0?#$1*0-+7?$<"077#A$"0-$)*,=+-#-$+7=#61,*6$B+1"$8079
B0*7+7?6$,;$07$+7<+)+#71$J#0*$80*>#13$
P#0>6$ 01$@*#06$@E$ /E$ \E$ 07-$ m$ "0-$ 0AA$ 10>#7$ )A0<#$ 01$ 6:<<#66+=#A9$ A,B#*$ A#=#A6E
8#06:*#-$ J9$ 1"#$ -+6107<#$ J#1B##7$ )*+<#$ A#=#A$ ,;$ 1"#$ bXS\$ R7-#F$ 07-$ 1"#$ :))#*
J,:7-0*+#6$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#A3$C0*>#1$-#<A+7#6$01$DE$KE$07-$L
"0-$ <0**+#-$ )*+<#6$ J,1"$ A,B#*$ 07-$ -##)#*$ B+1"+7$ 1"#$ <"077#A3$ !"#$ ^SR$ 07-$ 1"#
C@/D$J,1"$-#=#A,)#-$<A#0*$-,B71*#7-6$07-$:A1+801#A9$;#AA$+71,$7#?01+=#$1#**+1,*93$
)*#+%,(!#'-$,'(7-$"+%,(.8$%%'9; @3<
@%$$/+"A'*B<</A$'%'@?%A#"<5QB$',-'P,"<'@,A#$#,"A'
!"#$ ?*0-:0A$ B#0>#7+7?$ ,;$ 8,=+7?$ 0=#*0?#$ <"077#A$ )011#*76E$ <,:)A#-$ B+1"$ -#H
<A+7+7?$C@/D$)011#*76$07-$*#-:<1+,76$+7$^SR$8,8#71:8E$6:??#61#-$6,8#$+7+1+0A
<0:1+,7$ 06$@*#0$/$-#=#A,)#-E$ ;:*1"#*$ <,7;+*8#-$ J9$ 0$ B#0>#7+7?$ ,;$ 8,8#71:8
+7-+<01,*6$01$1"#$)#0>E$\E$07-$#6)#<+0AA9$01$m3$
@6$)011#*76$,;$1"+6$701:*#$#8#*?#E$1"#$61*01#?9$+6$?#7#*0AA9$1,$?*0-:0AA9$)"06#$,:1
A,7?$),6+1+,76E$1,$)A0<#$<A,6#*$61,)6$,7$*#80+7+7?$),6+1+,76E$07-$1,$+7<*#06#$6#AA+7?
0<1+=+19$06$#0*A9$B0*7+7?6$,;$0$B#0>#7+7?$80*>#1$J#<,8#$<,7;+*8#-3$
W#$0*#$A,,>+7?$7,1$6,$8:<"$;,*$0$,7#H-09$6+?70A$1,$#F+1$0AA$A,7?$),6+1+,76$06$8:<"
06$;,*$0$?#7#*0A$0*#0$+7$B"+<"$1,$6"+;1$#8)"06+6$;*,8$J:9+7?$07-$1"#7$1,$",A-+7?$07-
1"#7$1,$?*0-:0AA9$6#AA+7?$),6+1+,76$06$S10?#$N$.1,))+7?5$,;$1"#$61,<>$80*>#1$8,=#6
0A,7?$1,$1"#$610*1$,;$S10?#$V$.-#<A+7+7?53
*#<"#-#2%"$'1,G"$B+"'!A'E,"-#+7/3'
M9$@*#0$LE$1"#$bXS\$R7-#F$"0-$6",B7$0$6#O:#7<#$,;$A,B#*$"+?"6$07-$A,B#*$A,B6
.J#1B##7$m$07-$L53$!"#$;0+A:*#$,;$1"#$61,<>$80*>#1$1,$)#7#1*01#$1"#$8+-<"077#A$A+7#
B+1"$079$6+?7+;+<07<#$.R5$6+8)A9$<,7;+*8#-$1"#$B0*7+7?$6+?70A6$1"01$B#*#$J#+7?$?#7H
#*01#-3
!"#$ S10?#$ N$ -+61*+J:1+,7$ )#*+,-$ 8,=#-$ +71,$ 0$ S10?#$ V$ -#<A+7#$ 06$ 1"#$ b#B$X,*>
S1,<>$\F<"07?#$R7-#F$-#<A+7#-$;*,8$R$1,$GE$1"#$A,B#*$J,:7-0*9$,;$1"#$8,=+7?$0=#*H
0?#$1*0-+7?$<"077#A3$D:*+7?$1"+6$)*,<#66E$1"#$8,=+7?$0=#*0?#$<"077#A$+16#A;$1:*7#-
8,*#$<A#0*A9$-,B7B0*-3
@6$ B#$ "0=#$ <,8#$ 1,$ #F)#<1E$ 1"#$ 3,4+* *0AA9$ ;*,8$ 1"#$ A,B#*$ J,:7-0*9$ 8#1$ B+1"
*#6+6107<#$01$1"#$<#71#*$<"077#A$A+7#$.n5$J#;,*#$-#<A+7+7?$0?0+7$1,$fE$J#A,B$1"#$A,B#*
J,:7-0*9$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#A3$
!"#$ 61,<>$ 80*>#1$ :A1+801#A9$ ;,:7-$ 6:)),*1$ A01#*$ +7$ 4''4E$ B"#*#$ 1"#$ S10?#$ V
-#<A+7#$?0=#$B09$1,$0$7#B$S10?#$%$)#*+,-$,;$0<<:8:A01+,73$
P*+<#$0<1+,7$-,#6$7,1$0AB096$;,AA,B$8,=+7?$0=#*0?#$1*0-+7?$J07-$*:A#6$B+1"$1"#
)*#<+6+,7$1"01$B#$"0=#$J##7$6##+7?E$J:1$B#$<07$<#*10+7A9$6##$8079$,<<06+,76$B"#7
)*+<#$8,=#8#716$"0=#$;,AA,B#-$1"#$+8)A+<01+,76$,;$8,=+7?$0=#*0?#$1*0-+7?$<"07H
7#A$)011#*763$
@3= 7'&8%+&$9(!%$9:;+;
V,G'$,'E,"A$+B2$'%'@+#2/]8,C#"<'DC/+%</'1#--/+/"$#%&
QA2#&&%$,+
Q$96*V-";91)%.;*$()*%09,,*$*1'9(7%W+6977('"$
/ J
=(+2(>%/"?:"+9'*E%0(975
,55 ,55
K
L@I$D/0J
. I
!,5 !,5
0 ! -
8 L
!55 N !55
>G?8/:$B&K601$CK"'/1"
7,5 ?@I$D/0J 7,5
M U
9)5 Q$96*V-";91)%.;*$()*%09,,*$*1'9(7%W+6977('"$ 9)5
L@I$D/0J
5G5 5G5
;5G) ;5G)
?@I$D/0J
)5 )0 +! 7) 8 )! ++ +0 6 )7 +5 +8 7 )5 )8 +! )
+555 "#$%&'%( -'%./ 12%34
!"#$%&=(Q E,"A$+B2$#"< %'8,C#"<'DC/+%</'@+#2/'QA2#&&%$,+I'6?/'F%A3%L'E,7;,A#$/>

W%"B%+)[D;+#&'JKKK
@A1",:?"$)011#*76$1"01$-#=#A,)$B+1"+7$8,=+7?$0=#*0?#$1*0-+7?$<"077#A6$1#AA$1"#+*
,B7$ 61,*9E$ 6,8#1+8#6$ *#A01+,76"+)6$ J#1B##7$ )*+<#$ 07-$ 8,=+7?$ 0=#*0?#$ J#<,8#
<A#0*#*$ +;$ 1"#$ -010$ 1"01$ +6$ *#;A#<1#-$ +7$ 1"#$ 8,=+7?$ 0=#*0?#$ 1*0-+7?$ <"077#A$ +6$ <,7H
=#*1#-$1,$0$8,*#$;08+A+0*$,6<+AA01,*$;,*8013$
@6$ +AA:61*01#-$ +7$ /"0*1$ &3VE$ 1"#$ <,7=#*6+,7$ +6$ *#0-+A9$ 0<<,8)A+6"#-3$ !"+6$ <"0*1
+7<A:-#6$1"#$b06-0O$/,8),6+1#$R7-#F$.-0+A9$J06#-5E$B+1"$0$%VH-09$8,=+7?$0=#*0?#
B+1"$J07-$J,:7-0*+#6$)A0<#-$Ia$0J,=#$07-$J#A,B$1"#$%VH-09$8,=+7?$0=#*0?#3$
!"#$A,B#*$6<0A#$,;$1"#$<"0*1$+6$07$,6<+AA01,*$1"01$<07$J#$<*#01#-$;*,8$8,=+7?$0=#*H
0?#$ <"077#A$ -0103$ !"#$ '$ A+7#$ ,7$ 1"#$ A,B#*$ 6<0A#$ *#)*#6#716$ 1"#$ A#=#A$ ,;$ 1"#$ %VH-09
8,=+7?$0=#*0?#E$B"#*#=#*$1"01$8+?"1$A+#3$!"#$:))#*$A+7#$,;$1"#$,6<+AA01,*$*#)*#6#716
1"#$:))#*$J,:7-0*9$,;$1"#$<"077#A$07-$+6$6#1$Ia$0J,=#$1"#$'$,*$8,=+7?$0=#*0?#$A+7#3
!"#$A,B#*$A+7#$,;$1"#$,6<+AA01,*$*#)*#6#716$1"#$A,B#*$J,:7-0*9$,;$1"#$<"077#AE$6#1$Ia
J#A,B$ 1"#$'$ ,*$ 8,=+7?$ 0=#*0?#$ A+7#3$ P,61+7?6$1,$ 1"#$ ,6<+AA01,*$ 0*#$80-#$ #0<"$-09E
*#;A#<1$1"#$-+;;#*#71+0A$J#1B##7$1"#$)*+<#$<A,6#$07-$1"#$8,=+7?$0=#*0?#3
)*#+%,(!#'-$,'(7-$"+%,(.8$%%'9; @3>
!"#$ ,6<+AA01,*$ -#;+7#-$ 1"#$ <,76+61#71$ 61*#7?1"$ ,;$ 1"#$ b06-0O$ /,8),6+1#$ -:*+7?
K#J*:0*9$07-$#0*A9$C0*<"$4'''3$!"#$)*+<#$A#=#A$,;$1"#$b06-0O$1*0<>#-$J#1B##7$1"#
<#71#*$A+7#$07-$1"#$:))#*$J,:7-0*9$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#AE$B+1"$1"#
,6<+AA01,*$8,=+7?$J#1B##7$1"#$'$A#=#A$07-$1"#$`I3''$A#=#A3$
!"#$ ?*0-:0A$ B#0>#7+7?$ ,;$ 80*>#1$ 8,8#71:8$ 1"01$ -#=#A,)#-$ 0;1#*$ 1"#$ 80*>#1
)#0>$01$/$B06$*#;A#<1#-$+7$1"#$,6<+AA01,*E$B"+<"$6",B#-$61#0-+A9$-#<A+7+7?$)#0>6$07-
A,B#*$A,B6$06$1"#$b06-0O$/,8),6+1#$;+*61$;A011#7#-$07-$1"#7$-#<A+7#-3$
@7$:)6+-#$=+,A01+,7$,;$1"#$-#<A+7+7?$1*#7-A+7#$+7$A01#$@)*+A$<,7;+*8#-$1"#$J:AA+6"
+8)A+<01+,76$,;$1"#$+8)*,=+7?$8,=+7?$0=#*0?#$<"077#A$)011#*76$1"01$-#=#A,)#-$01
@*#0$f 06$1"#$b06-0O$/,8),6+1#$;,:7-$07$+71#*8#-+01#$J,11,83
D'(/C#/G',-'$?/'^/)'(B&/A'DAA,2#%$/3'G#$?'8,C#"<'DC/+%</
6+%3#"<'0%"3'6+%3#"<'
/0A<:A01#$ 07-$ 80+710+7$ 8,=+7?$ 0=#*0?#$ 1*0-+7?$ J07-$ <"077#A6$ 1"01$ :6#$ -+;;#*#71
8,=+7?$0=#*0?#$A#7?1"6$07-$-+;;#*#71$1+8#$;*08#6$1,$*#;A#<1$80Z,*HE$+71#*8#-+01#HE
07-$ 6",*1H1#*8$ 1*#7-6$ ,;$ 1"#$ 61,<>$ 80*>#13$ S#1$ J,:7-0*+#6$ 1,$ #7<,8)066$ J#1B##7
0))*,F+801#A9$2[(&'a$,;$61,<>$80*>#1$8,=#8#713$
g$@6$0$?#7#*0A$*:A#E$+1$+6$60;#$1,$J:9$)#7#1*01+,76$,;$1"#$A,B#*$J07-6$,;$8,=+7?$
0=#*0?#$1*0-+7?$<"077#A6$B+1"$1"#$#F)#<101+,7$1"01E$+7$1"#$7,1H1,,H-+61071$
;:1:*#E$1"#$80*>#1$B+AA$*#<,=#*$01$A#061$1,$9,:*$J:9+7?$A#=#A$07-$)*,J0JA9$6,8#
B"01$"+?"#*3
g$@6$0$?#7#*0A$*:A#E$1"#$;+*61$*0AA9$;,AA,B+7?$0$-,B7B0*-$)#7#1*01+,7$,;$1"#$A,B#*
J,:7-0*9$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"077#A$61,)6$01$1"#$8,=+7?$0=#*0?#E$
B"+<"$B+AA$0<1$06$*#6+6107<#3$R;$1"#$)#7#1*01+,7$,;$1"#$A,B#*$J,:7-0*9$"06$J##7$
<,76+-#*0JA#E$1"#$;+*61$*0AA9$011#8)1$8+?"1$61,)$01$1"#$A,B#*$J,:7-0*9$A+7#3
g$^0AA+#6$1"01$,*+?+701#$;*,8$1"#$A,B#*$J07-$,;$1"#$8,=+7?$0=#*0?#$1*0-+7?$<"07H
7#A$,;1#7$8##1$*#6+6107<#$01$1"#$<#71#*$A+7#$,;$1"#$<"077#A3$R;$1"#$<#71#*$A+7#$,;$
1"#$<"077#A$+6$)#7#1*01#-E$1"#$7#F1$0*#0$,;$*#6+6107<#$+6$A+>#A9$1,$-#=#A,)$01$1"#$
:))#*$J,:7-0*9$,;$1"#$1*0-+7?$<"077#A3
g$R;$1"#$:))#*$J07-$+6$*#0<"#-$07-$<,7;+*8+7?$+7-+<01,*6$0*#$),6+1+=#E$1"#$;+*61$
0*#0$,;$6:)),*1$B+AA$?#7#*0AA9$J#$7,$A,B#*$1"07$1"#$<#71#*$A+7#$,*$0*#0$,;$1"#$
8,=+7?$0=#*0?#3
g$R;$0$80*>#1$0-=07<#$;0+A6$1,$<0**9$)*+<#6$06$;0*$0J,=#$1"#$8,=+7?$0=#*0?#$06$1"#$
)*#=+,:6$80*>#1$0-=07<#E$1"+6$+6$0$6+?7$,;$B#0>#7+7?$:)6+-#$8,8#71:8$07-$
),66+JA9$0$B#0>#7+7?$61,<>$80*>#13$!"+6$)011#*7$6:??#616$0$80*>#1$-,B71:*7$
+7$1"#$*#A01+=#A9$7#0*$;:1:*#3$@ *#=#*6#$,;$1"+6$)011#*7$-:*+7?$80*>#1$-#<A+7#$
6:??#616$0$;,*1"<,8+7?$:)6+-#$*#=#*60A3$
g$R;$0$80*>#1$0-=07<#$;0+A6$1,$<0**9$1,$1"#$:))#*$J07-$,;$1"#$1*0-+7?$<"077#AE$1"#$
7#F1$-#<A+7#$B+AA$)*,J0JA9$)#7#1*01#$1"#$<#71#*$A+7#$,;$1"#$<"077#A3
@3? 7'&8%+&$9(!%$9:;+;
g$R;$0$80*>#1$1,)$.,*$80*>#1$A,B5$+7-+<01#-$J9$8,=+7?$0=#*0?#$1*0-+7?$<"077#A$
)011#*76$+6$<,7;+*8#-$J9$6:)),*1+7?$1#<"7+<0A$+7-+<01,*6E$1"#$,--6$,;$0$1*#7-$
*#=#*60A$10>+7?$)A0<#$+7<*#06#3$
g$R;$0$80*>#1$)#0>$;0+A6$1,$<0**9$06$"+?"$06$0$)*#=+,:6$80*>#1$)#0>E$1"#$,--6$0*#$
1"01$1"#$7#F1$-#<A+7#$B+AA$<0**9$1,$0$A#=#A$J#7#01"$1"#$A#=#A$,;$1"#$A,B$0*#0$
J#1B##7$1"#$1B,$)#0>63$R;$0$80*>#1$A,B$+6$;,AA,B#-$J9$0$A,B#*$A,BE$1"#$,--6$
0*#$?,,-$1"01$07$+88#-+01#$*0AA9$B+AA$7,1$<0**9$0J,=#$1"#$A#=#A$,;$1"#$*0AA9$1"01$
1,,>$)A0<#$J#1B##7$1"#$1B,$A,B63$
3A
@B$$#"<'!$'D&&'6,</$?/+I
Q+<%"#_#"<'.,B+'8%+9/$
*$+%$/<#/A
b,B$1"01$9,:$"0=#$0$<,AA#<1+,7$,;$)*0<1+<0A$),B#*$1,,A6E$1"#$1+8#$"06$<,8#$1,$,*?07H
+e#$9,:*$0**09$,;$1*0-+7?$B#0),76$+71,$07$,*-#*A9$0))*,0<"$1,$1"#$6#A#<1+,7$07-$1"#
1+8+7?$,;$61,<>$80*>#1$+7=#618#7163$W+1",:1$;:*1"#*$0-,E$B#$8,=#$+71,$1"+6$)*,<#663
6?/'=#+A$'*$/;I'1/-#"/'$?/'8%X,+'6+/"3'%"3'8%X,+'6/+7
E)2&/A',-'$?/'*$,29'8%+9/$
!*#7-H-#;+7+7?$1,,A6Y$\8)A,9$1"#$1,,A6$07-$)*,<#-:*#6$J#A,B$1,$-#;+7#$6+?7+;+<071
1*#7-6$+7$1"#$61,<>$80*>#13
g$!"#$-+*#<1+,7$,;$80Z,*$1#*8$8,=+7?$0=#*0?#6U1"#$V'HB##>$,*$0))*,F+801#A9$
4''H-09$8,=+7?$0=#*0?#U+6$=#*9$:6#;:A$;,*$1"+6$):*),6#3$/,76+-#*$7,1$,7A9$1"#$
-+*#<1+,7E$J:1$0A6,$<"07?#6$+7$1"#$6A,)#$,;$1"#$8,=+7?$0=#*0?#3$R1$+6$A#66$6+?7+;+H
<071$+;$)*+<#6$A+#$0J,=#$,*$J#A,B$1"#$8,=+7?$0=#*0?#$,7$07$0J6,A:1#$J06+63$
!*#7-6$+7$1"#$*#A01+,76"+)$,;$)*+<#$1,$8,=+7?$0=#*0?#$0*#$8,*#$6+?7+;+<0713$.S##$
/"0)1#*$NE$pC,=+7?$@=#*0?#6$07-$^01#6$,;$/"07?#Y$!*0<>+7?$!*#7-$07-$
C,8#71:83q5
@@A 7'&8%+&$9(!%$9:;+;
g$S1:-9$1"#$-+*#<1+,7$,;$A,7?#*H1#*8$8,=+7?$0=#*0?#$<"077#A6$07-$1"#$)011#*76$
,;$)*+<#$8,=#8#71$B+1"+7$1"#6#$<"077#A63$.S##$/"0)1#*$&E$pC,=+7?$@=#*0?#$
!*0-+7?$/"077#A6Y$]6+7?$X#61#*-09i6$@<1+,7$1,$/0AA$!,8,**,Bi6$!:*763q5$
g$C0+710+7$8,71"A9$07-$B##>A9E$+7$0--+1+,7$1,$-0+A9E$C@/D$<"0*163$.S##$
/"0)1#*$2E$p@-=07<#-$C,=+7?$@=#*0?#$/,7=#*?#7<#HD+=#*?#7<#$.C@/D5Y$!"#$
]A1+801#$C0*>#1$!+8+7?$R7-+<01,*oq5$f,,>$;,*$8,71"A9$07-$B##>A9$C@/D$)01H
1#*76$;,*$+7-+<01+,76$,;$61*#7?1"$+7$1"#$A,7?#*H1#*8$80*>#1$1*#7-3
g$\8)A,9+7?$1"#$)*#=+,:6A9$8#71+,7#-$1,,A6E$1*9$1,$-#;+7#$07-$#610JA+6"$1"#$),6+H
1+,7$,;$1"#$61,<>$80*>#1$+7$1#*86$,;$+16$;,:*$610?#63$!"#6#$+7<A:-#$S10?#$%E$J06H
+7?$07-$0<<:8:A01+,7Q$S10?#$4E$*+6+7?E$1"#$8,61$),6+1+=#A9$-9708+<$610?#Q$
S10?#$NE$1,))+7?$07-$-+61*+J:1+,7Q$07-$S10?#$VE$-9708+<$-#<A+7#E$1"#$B#0>#61$
610?#3$.S##$/"0)1#*6$N$07-$235
g$n##)$1*0<>$,;$A,7?#*H1#*8$+7-+<01,*6$1"01$"0=#$"0-$0$?,,-$*#<,*-$+7$1"#$)061$,;$
-#;+7+7?$80Z,*H1#*8$80*>#1$A,B$0*#063$K,*$#F08)A#E$*#=+#B$1"#$C0Z,*$!#*8$
r,A01+A+19$C,-#A$.6##$/"0)1#*$dE$pr,A:8#$\F1*#8#6E$r,A01+A+19E$07-$rRlY$^#<,?H
7+e+7?$/A+80<1+<$f#=#A6$07-$M:9+7?$T)),*1:7+1+#6$01$C0*>#1$f,B$P,+716q5E$
07-$<"#<>$;,*$*#=#*60A$)011#*76E$<A+80<1+<$*#0-+7?6$,;$7#B$"+?"$07-$7#B$A,B$-010
.6##$/"0)1#*$IE$pM,11,8$K+6"+7?E$!,)$S),11+7?E$S109+7?$1"#$/,:*6#Y$P,B#*$!,,A6$
!"01$/,8J+7#$C,8#71:8$T6<+AA01,*6$B+1"$C0*>#1$M*#0-1"$C#06:*#8#716$;,*$
R8)*,=#-$C0*>#1$!+8+7?q5E$07-$!^Rb$.6##$/"0)1#*$d5E$06$B#AA$06$;,*$80Z,*$J,1H
1,8$;,*801+,76$+7$1"#$61,<>$80*>#13
g$D,$7,1$7#?A#<1$61,<>$80*>#1$1+8#$07-$),A+1+<0A$<9<A#63$!"#$V2H8,71"$,*$0))*,F+H
801#$;,:*H9#0*$61,<>$80*>#1$<9<A#$"06$J##7$6+?7+;+<071$;,*$-#<0-#63$.S##$/"0)1#*$[E
pP,A+1+<0AE$S#06,70AE$07-$!+8#$/9<A#6Y$^+-+7?$1"#$!+-#6$,;$C0*>#1$W0=#$C,=#H
8#7163q5 1 3/5&4,*"6$P*#H#A#<1+,7$9#0*6$"0=#$6",B7$?0+76$+7$1"#$S107-0*-$h$P,,*i6
[''$R7-#F$-:*+7?$%I$,;$%&$;,:*H9#0*$<9<A#6$6+7<#$%&N%3$T7A9$1B,$9#0*6E$%&N%$07-$
%&N&E$0<1:0AA9$6",B#-$A,66#6Q$%&Vd$B06$0$J*#0>H#=#73$!"#$)*#H#A#<1+,7$9#0*$<9<A#$
)*,-:<#-$%V$<,76#<:1+=#$B+77+7?$9#0*6$J#1B##7$%&[%$07-$4''N3$.S##$/"0)1#*$[35$
6?/'*/2,"3'*$/;I'E?/29'QB$'8%+9/$'8,,3'!"3#2%$,+A'%"3
*/%A,"%&'E)2&/A
g$C0+710+7$07-$>##)$1*0<>$,;$1"#$b06-0O_b#B$X,*>$S1,<>$\F<"07?#$^#A01+=#$
S1*#7?1"$R7-+<01,*3$.S##$/"0)1#*$4E$p!B,$s:+<>H07-HD+*19$S1,<>$C0*>#1$C,,-$
R7-+<01,*63q5$!"#$61,<>$80*>#1$"06$?#7#*0AA9$)*,-:<#-$6:)#*+,*$*01#6$,;$*#1:*7$+7$
=+*1:0AA9$0AA$80*>#1$6#<1,*6$-:*+7?$)#*+,-6$B"#7$1"#$b06-0O$/,8),6+1#$"06$A#-$
1"#$bXS\$R7-#F$+7$*#A01+=#$61*#7?1"3$R7$0--+1+,7$1,$1"#$;,*80A$1#<"7+O:#6$;,*$-#H
;+7+7?$1"#$),6+1+,7$,;$1"+6$+7-+<01,*$-#6<*+J#-$+7$/"0)1#*$4E$9,:$8+?"1$80+710+7$
C@/D$*#0-+7?6$07-$8,=+7?$0=#*0?#$1*0-+7?$<"077#A6$J06#-$:),7$B##>A9$A#=#A6
,;$1"+6$*#A01+=#$61*#7?1"$+7-+<01,*3
BCDD+%,(ED(!99(7*,'D8'-F(G-,$%+H+%,(I*C-()$-J'D(KD-$D',+'; @@3
g$C0+710+7$07-$>##)$1*0<>$,;$1"#$R71#*8#-+01#$C,7#10*9$K+A1#*E$-#6<*+J#-$+7$
/"0)1#*$4E$B"+<"E$A+>#$1"#$b06-0O_bXS\$R7-#F$^#A01+=#$S1*#7?1"$R7-+<01,*E$<07$
J#$#8)A,9#-$1,$6#)0*01#$+7=#618#71$<A+801#6$-:*+7?$B"+<"$61,<>6$0*#$8,61$A+>#A9
1,$1"*+=#$;*,8$+7=#618#71$<A+801#6$-:*+7?$B"+<"$61,<>6$?#7#*0AA9$6",B$*#A01+=#A9
680AA$?0+73$
g$S#06,70A$+7;A:#7<#6$06$B#AA$06$<9<A+<0A$;,*<#6$.6##$/"0)1#*$[5$)*,=+-#$1"#+*$,B7$
80*>#1$8,,-$6:??#61+,763$1 3/5&4,*"6 !"#$1"*##H8,71"$)#*+,-$J#1B##7$b,=#8H
J#*$07-$G07:0*9$"06$0$61*,7?$J+06$1,$1"#$:)6+-#3$T<1,J#*$"+61,*+<0AA9$"06$
J##7$0$8,71"$1"01$6##6$1"#$<,8)A#1+,7$,;$80*>#1$-#<A+7#63
6?/'6?#+3'*$/;I':A$%`&#A?'$?/'1#+/2$#,"'%"3'*$+/"<$?',-'$?/
EB++/"$'!"$/+7/3#%$/'6+/"3'%"3'6+)'$,'@+,X/2$'$?/'6#7/'%"3
@&%2/',-'$?/'F/H$'!"$/+7/3#%$/56/+7'(/C/+A%&'D+/%
]6#;:A$1,,A6$;,*$1"+6$):*),6#$+7<A:-#$1"#6#Y
g !"#$%&#'()*+,%-./ C0+710+7$B##>A9$07-$-0+A9$C@/D$<0A<:A01+,763$f,,>$;,*$
1*#7-6$+7$C@/DE$),6+1+=#$07-$7#?01+=#$-+=#*?#7<#6E$6A,)#6$,;$*+6#6$07-$-#<A+7#6$
+7$C@/DE$07-$)0*1+<:A0*A9$1*#7-A+7#$J*#0>6$+7$1"#$6A,)#6$,;$8,=+7?$0=#*0?#$
A+7#63$SA,B$C@/D$+6$=#*9$:6#;:A$+7$1"+6$*#?0*-3$
g !01234%(1+,(4+%*,(5234%6'(33+78%&#'()*+,%9./ !"#6#$B,*>$B#AA$+7$<,7Z:7<1+,7$
B+1"$C@/D$07-$0A6,$,7$1"#+*$,B7$;,*$+71#*8#-+01#$1*#7-$06$B#AA$06$6",*1#*H1#*8$
07-$A,7?#*H1#*8$1*#7-$070A96+63$
g :(*+%0;%6'(34+%23526(*0,8/ !#7H-09$*01#$,;$<"07?#$8#06:*#8#716E$4%H-09$*01#$,;$
<"07?#$8#06:*#8#716E$07-$,1"#*6$.6##$/"0)1#*$N5$)*,=+-#$)#*6)#<1+=#$,7$
B"#1"#*$1*#7-6$0*#$?0+7+7?$,*$A,6+7?$8,8#71:83$f,,>$;,*$),6+1+=#$07-$7#?01+=#$
-+=#*?#7<#6$J#1B##7$80*>#1$8,8#71:8$07-$)*+<#$;,*$#0*A9$7,1+<#$,;$61,<>$
80*>#1$*#=#*60A3$
g !(,<+*%=,+(5*'%23526(*0,8/ @-=07<#H-#<A+7#$A+7#6$,;$80Z,*$#F<"07?#6E$06$B#AA$06$
1"#$7:8J#*6$,;$+66:#6$*+6+7?$1,$7#B$"+?"6$,*$;0AA+7?$1,$7#B$A,B6$.6##$/"0)1#*$I5E$
6",:A-$J#$;,AA,B#-$;,*$+7-+<01+,76$,;$1"#$61*#7?1"$,;$J*#0-1"$-:*+7?$80*>#1$
0-=07<#6$07-$-#<A+7#63$R1$+6$:7:6:0A$;,*$1"#$61,<>$80*>#1$1,$:7-#*?,$6+?7+;+<071$
-#<A+7#$-:*+7?$)#*+,-6$,;$61*,7?$07-$+8)*,=+7?$J*#0-1"3$f,,>$;,*$+8)*,=#8#716$
+7$7#B$"+?"_A,B$*#A01+,76"+)6$06$0$)*#<:*6,*$1,$1"#$<,8)A#1+,7$,;$80*>#1$-#H
<A+7#6E$1,$6A+))0?#$+7$1"#6#$0*#06$06$07$#0*A9$B0*7+7?$,;$80*>#1$-#<A+7#$1,$;,AA,B3$
!,$)*,Z#<1$A+>#A9$1+8#$;*08#6$07-$A,<01+,76$,;$1:*7+7?$),+716E$:6#$1"#6#$1,,A6Y
g$R71#*8#-+01#H1#*8$1+8#$<9<A#6$07-$!H;,*801+,76$.6##$/"0)1#*$[53
g$/"0*1$)011#*76U@7?A#$<"07?#6E$*#=#*60A$;,*801+,76E$B#-?#6E$1*#7-A+7#$6:)),*1E$
07-$*#6+6107<#$0*#06$.6##$/"0)1#*$VE$pC,*#$!"07$G:61$P*#119$P+<1:*#6Y$P,B#*$!,,A$
/"0*1$P011#*76q53
@@@ 7'&8%+&$9(!%$9:;+;
g$S#06,70A$<,76+-#*01+,763
g$S#71+8#71$+7-+<01+,76E$6:<"$06$rRl$.6##$/"0)1#*$d53
!"#6#$6)#<+0A$6101+61+<0A$1+8+7?$8,-#A6$0*#$:6#;:A$;,*$+71#*8#-+01#$1*0-#*6Y
g$!"#$!*+)A#$C,8#71:8$b06-0O$R7-#F$!*0-+7?$C,-#A$.6##$/"0)1#*$V5$)*,=+-#6$
6101+61+<0AA9$-#*+=#-$J:9$07-$6#AA$6+?70A6$1"01$<07$J#$;,AA,B#-$,7$0$):*#A9$
,JZ#<1+=#$J06+63$
g$!"#$C@/D$K+A1#*#-$M*#0-1"$R8):A6#$C,-#A$.6##$/"0)1#*$25$#8)A,96$0$<,8J+70H
1+,7$,;$1*#7-6$+7$C@/D$A#=#A6$07-$8#06:*#8#716$1"01$-#;+7#$:7:6:0AA9$61*,7?$
:)6+-#$J*#0-1"$+8):A6#6$1,$)*,-:<#$0$),B#*;:A$+71#*8#-+01#$1#*8$J:9_6#AA$
+7-+<01,*3
g$!"#$&'(2'$b#B$L+?"(b#B$f,B$R7-+<01,*$07-$1"#$W##>A9$R8):A6#$/,71+7:01+,7$
S+?70A$J,1"$+7-+<01#$)#*+,-6$,;$0J,=#$0=#*0?#$80*>#1$61*#7?1"3$K,*$06$A,7?$06$
1"#6#$+7-+<01,*6$0*#$1*0<>+7?$+7$;0=,*0JA#$1#**+1,*9E$1"#$61,<>$80*>#1$+6$*01#-$01$
A#061$0$",A-3$.S##$/"0)1#*$I35
6?/'=,B+$?'*$/;I'=#"/56B"/'.,B+'!"$/+7/3#%$/56/+7'*$B3#/A
G#$?'*$B3#/A'0%A/3',"'*?,+$/+56/+7'1%#&)a,+':C/"
V,B+&)a8%+9/$'(/%3#"<A'
!"#$;,AA,B+7?$1,,A6$07-$10<1+<6$6",:A-$"#A)$9,:$-#=#A,)$8,*#$)*#<+6#$#71*+#6$07-
#F+16E$#=#7$+;$9,:$0*#$07$+71#*8#-+01#$1#*8$1*0-#*3$
g$/"#<>$,:1$-0+A9$07-_,*$",:*A9$-010$;,*$6",*1H1#*8$80*>#1$1*#7-6$07-$8,8#7H
1:83$C@/DE$*01#6$,;$<"07?#E$<"0*1$)011#*76E$07-$6",*1#*H1#*8$",:*A9$07-_,*$
-0+A9$80*>#1$<9<A#6$8+?"1$J#$:6#;:A3
g$L#*#i6$0$6)#<+0A$6",*1$1#*8$J:9_6#AA$1+8+7?$8,-#AY$!"#$6",*1H1#*8$=#*6+,7$,;$1"#$
D0+A9$M06#-$M*#0-1"$R8):A6#$S+?70A$1*+??#*6$+7;*#O:#71A9$J:1$=#*9$*#A+0JA9$1,$
+7-+<01#$6",*1#*H1#*8E$"+?"H8,8#71:8$80*>#1$0-=07<#63$!"+6$+7-+<01,*$<07$J#$
#8)A,9#-$B+1"$C@/D$06$0$6#AA$;+A1#*E$+7$B"+<"$<06#$+1$<07$?*0-:01#$+71,$0$;:AAH
6<0A#$+71#*8#-+01#H1#*8$",A-$+7-+<01,*3$.S##$/"0)1#*6$I$07-$235$
(/7/7`/+'QB+'=%C,+#$/'8B$B%&'=B"3'*/&/2$#,"'*$+%$/<)b
T;$ <,:*6#E$ 8079$ 8#06:*#6$ ,;$ +71*+76+<$ =0A:#E$ <:**#71$ 8,8#71:8E$ 07-$ ,1"#*$ 1,,A6
8+?"1$ ?,$ +71,$ 1"#$ 6#A#<1+,7$ ,;$ =#"+<A#6$ +7$ B"+<"$ 1,$ +7=#61E$ B"+<"$ 0*#$ J#9,7-$ 1"#
6<,)#$,;$1"+6$61:-9$,;$1,,A6$,;$1#<"7+<0A$070A96+63
!"#$8#1",-$,;$6#A#<1+7?$8:1:0A$;:7-6$J06#-$,7$*#A01+=#$61*#7?1"$.6##$/"0)1#*$%E
p!"#$b,HK*+AA6$R7=#618#71$S1*01#?9q5$+6$08,7?$,:*$;0=,*+1#$61*01#?+#6$;,*$6#A#<1+7?
07-$*,101+7?$9,:*$+7=#618#7163$!"+6$8#1",-$;#01:*#6E$B+1"+7$+16$61*:<1:*#E$<,7<#)16
*#A01#-$1,$*#A01+=#$61*#7?1"$07-$1"#$J#7#;+16$,;$A,B#*$=,A01+A+19$07-$1*:#$=0A:#3$R1$+6
"+?"A9$*#<,88#7-#-k
!
!"#$%&'(#)*+&)',*+-$%&
./+%%)012'31$%&'4)15)*-+671
(85$"%'5"'.+00',"9"**":71
,;*%1
!"#$%&#"#'(#")*%"($+",-./-.0"#'-&"0%-/+"#*"#+1'.-1(2"(.(2)&-&"3*#'"%&+,%2"(./"'+24,%25
6)"&#(,,"(./"!"+742*)"#'+"#**2&"8+"'(9+"/-&1%&&+/"+(1'"/()"(&"8+"7(:+"#$(/-.0"(./
-.9+&#7+.#"/+1-&-*.&5"!."#'-&"1'(4#+$;")*%"8-22"2+($."8'(#"!"1*.&-/+$"#*"3+"(7*.0"#'+
7*&#"4$(1#-1(2"*,"#'+"4$(1#-1(2"4*8+$"#**2&"-."*%$"/+1-&-*.<7(:-.0"($&+.(2="#'+"7*9<
-.0" (9+$(0+" #$(/-.0" 1'(..+25" >-:+" #'+" 6?@A;" (.*#'+$" *," *%$" ,(9*$-#+" 4$(1#-1(2
4*8+$"#**2&;"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2"1(."3+"+742*)+/"-."9-$#%(22)"(.)
#-7+,$(7+;"-#&"(442-1(#-*."+B#+./-.0",$*7"/()"#$(/-.0"#*"2*.0<#+$7"-.9+&#7+.#5"
?&"%&%(2;"#'-&"1'(4#+$"8*$:&"#'$*%0'"'*8"#*"1*.&#$%1#"#'+".+1+&&($)"/(#("(./
1'($#&" -.#*" (." ($$()" *," 1*.1+4#&" (./" $%2+&" ,*$" -.#+$4$+#-.0" #'+" 1'($#" 4(##+$.&
*3&+$9+/5"C'+"%./+$2)-.0"1*.1+4#&"($+"(1#%(22)"D%-#+"&#$(-0'#,*$8($/;"9+$)"7%1'"-.
:++4-.0"8-#'"1*.1+4#&"(2$+(/)"/-&1%&&+/"-."#'-&"3**:5"C'+$+"($+"+2+7+.#&"*,"&%3<
E+1#-9-#);"*,"1*%$&+;"-."#'+"(.(2)&-&"*,"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2&5"@'($#"$+(/<
-.0;" %.2-:+" &#(#-&#-1(22)" 3(&+/" #-7-.0" 7*/+2&;" *,#+." -.9*29+" &*7+8'(#" &%3E+1#-9+
E%/07+.#F3%#"-."#'+"1(&+"*,"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2&;"#'+"&%3E+1#-9+"+2+<
7+.#&" ($+" ,$+D%+.#2)" 8+22<-.,*$7+/5"?2*.0" 8-#'" #'+" 6?@A;" #'+" 7*9-.0" (9+$(0+
#$(/-.0"1'(..+2"G*$"3(./H"-&"("#+1'.-1(2"#**2"!"$+&4+1#"'-0'2)5"
"#" $%&'()&*+,-(*+./)/
C'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2"1(."3+"+742*)+/",*$"#-7+",$(7+&"$(.0-.0
,$*7"#'+"&'*$#"#+$7"#*"#'+"7(E*$"#+$75"I(##+$.&"*,"4$-1+"7*9+7+.#"8-#'-."#'+"1'(.<
.+2"1(."'+24"/+#+$7-.+"#'+",*22*8-.0=
J"K'+#'+$"#'+"7($:+#&"($+"&'*8-.0"-.1$+(&-.0"&#$+.0#'"*$"($+"2*&-.0"%4&-/+"
7*7+.#%7
J"K'+$+",*$#'1*7-.0"&%44*$#"(./"$+&-&#(.1+"2+9+2&"($+"2-:+2)"#*"/+9+2*4
J"K'+#'+$"-.-#-(2"(##+74#&"#*"$(22)"(44+($"2-:+2)"#*"/+9+2*4"("0**/"
,*22*8<#'$*%0'"
J"K'+."-#"-&"&(,+"#*"3%)"7($:+#"8+(:.+&&
J"K'+$+"(./"8'+."7($:+#"$+#$(1+7+.#&"($+"2-:+2)"#*"*11%$;"(./"8'+#'+$"#'+"
*//&",(9*$"&%3&+D%+.#"$+1*9+$)
,/)'<+1$8'=%&*)-$)%51'">'5/)'!"#$%&'(#)*+&)',*+-$%&
./+%%)0
? 7*9-.0"(9+$(0+"$+,2+1#&"#'+"#$+./"*,"#'+"&#*1:"7($:+#",*$"#'+"#-7+,$(7+"-."8'-1'
)*%"($+"*4+$(#-.05"C'+$+"7-0'#"3+"/+,-.-#+"3+.+,-#&"#*"7(-.#(-.-.0"7%2#-42+"1'(..+2&
#'(#"$+,2+1#;"(7*.0"#'+7;"2*.0+$<"(./"&'*$#+$<#+$7"7($:+#"4+$-*/&"(./"#$+./&5"
?&")*%":.*8"3)".*8;"7*9-.0"(9+$(0+&"($+"#**2&",*$"&7**#'-.0"4$-1+"/(#("#'(#
12($-,)" #'+" /-$+1#-*." (./" &#$+.0#'" *," %./+$2)-.0" 7($:+#" #$+./&" 3)" $+7*9-.0" .*-&+
(&&*1-(#+/" 8-#'" &'*$#<#+$7" 4$-1+" ,2%1#%(#-*.&5" C'+" 2*.0+$" #'+" #+$7" *," #'+" 7*9-.0
(9+$(0+"-&;"#'+"2*.0+$"#'+"#$+./"-#"8-22"$+,2+1#;"(./"#'+"&7**#'+$"(./"&2*8+$"1'(.0+&
8-22"3+"-."/-$+1#-*."*,"#'+"(9+$(0+5
6*9-.0"(9+$(0+&"+742*)+/"-."7*9-.0"(9+$(0+"#$(/-.0"1'(..+2&"7-0'#"9($)"-.
2+.0#'",$*7" L"#*"LM"%.-#&" 3(&+/" %4*.",-9+<7-.%#+" $+(/-.0&"*," #'+"&#*1:"7($:+#"*$
-./-9-/%(2" &+1%$-#-+&;" 3*./&;" *$" 1*77*/-#-+&;" #*" 7*9-.0" (9+$(0+&" *," LM" %.-#&" *$
2*.0+$"3(&+/"*."/(-2);"8++:2);"*$"+9+."7*.#'2)"4*&#-.0&5"C'+"NO</()"7*9-.0"(9+$<
(0+"#+./&"#*"$+,2+1#"7($:+#"#$+./&"3(&+/"%4*."("&+9+.<"#*"+-0'#<8++:"7($:+#"1)12+;
$*%0'2)" #8-1+" #'+" 2+.0#'" *," #'+" 7*9-.0" (9+$(0+" +742*)+/5" C'+" #+.</()" 7*9-.0
(9+$(0+"$+,2+1#&"&'*$#<#+$7"#$+./&"(./"#+./&"#*"$+,2+1#"("#'$++<"#*",*%$<8++:"7($:+#
1)12+5
C'+$+"($+"4$*3(32)".*"'($/"(./",(&#"$%2+&"$+0($/-.0"#'+"&+2+1#-*."*,"7*9-.0"(9+$<
(0+&"#*"+742*);"8'-1'"1(."9($)".*#"*.2)"3)"7($:+#"12-7(#+;"3%#"(2&*"3)"#'+"9*2(#-2-<
#)" *," #'+" 4($#-1%2($" -.9+&#7+.#&" #'(#" )*%" ($+" #$(1:-.05" !" '(9+" ,*%./" #'(#" 7*9-.0
(9+$(0+&"$(.0-.0",$*7"NO"/()&"#*"LM"/()&"G*$"8++:&;",*$"2*.0+$<#+$7"1'($#&H"#*"3+
0+.+$(22)"%&+,%25"
C*"$+9-+8;"7*9-.0"(9+$(0+&"($+"1*.&#$%1#+/"3)"(//-.0"#'+"7*&#"$+1+.#"12*&-.0&
,*$" #'+" .%73+$" *," /()&" )*%" 8(.#" #*" #$(1:" (./" #'+." /-9-/-.0" 3)" #'+" .%73+$" *,
+.#$-+&5" P*$" +B(742+;" -," )*%" ($+" 7(-.#(-.-.0" (" #+.</()" 7*9-.0" (9+$(0+" *," #'+
Q(&/(D"@*74*&-#+"!./+B;")*%"8*%2/"&+1%$+"(./"#*#(2"#'+"12*&-.0"4$-1+&"*,"#'+"7*&#
$+1+.#"#+."/()&;"(./"#'+."/-9-/+"#'(#"#*#(2"3)"OM5"R."#'+"+2+9+.#'"/();")*%"8*%2/
(//"-."#'(#"+2+9+.#'"/()"(./"$+7*9+"#'+",($#'+&#"/()"3(1:"*,"#'+"4$+9-*%&"#*#(2"&*
012)(3,-2%4*3%,$4*5)(3,6'*((%+/ "#7
#'(#" )*%" ($+" (28()&" (9+$(0-.0" #'+" 7*&#" $+1+.#" #+.</()" 12*&-.0" #*#(25" ?27*&#" (.)
1*74%#+$"4$*0$(7"#'(#"$+2(#+&"#*"#+1'.-1(2"(.(2)&-&"8-22"'(9+"#'+",(1-2-#)"#*"4$*9-/+
7*9-.0"(9+$(0+&"*,"9($-*%&"%&+$<&+2+1#+/"2+.0#'&;"(&"8+22"(&"#'+"3*%./($-+&"*,"7*9<
-.0"(9+$(0+"#$(/-.0"1'(..+2&5
?0(-.;"#'+"&'*$#+$"#'+"7*9-.0"(9+$(0+"-&;"#'+"7*$+"12*&+2)"-#"8-22",*22*8"&'*$#+$<
#+$7"7($:+#",2%1#%(#-*.&5"C'+"2*.0+$"#'+"7*9-.0"(9+$(0+"-&;"#'+"2*.0+$"#'+"#$+./&"-#
8-22"#$(1:5"K+"8-22"3+"&++-.0"1'($#&"#'(#"$+,2+1#"7*9-.0"(9+$(0+&"*,"9($)-.0"2+.0#'&5
!#"-&"4$*3(32)".*#"1$%1-(2"-,")*%"+742*);",*$"+B(742+;"("OM</()"(9+$(0+"-."2-+%"*,"("ON<
/()"(9+$(0+;"*$"9-1+"9+$&(5"
!#" -&" (/9-&(32+" #*" 1$+(#+" 1'(..+2&" #'(#" $+,2+1#" 2*.0+$<#+$7" #$+./&;" 1+.#+$+/" *.
2*.0+$<#+$7"7*9-.0"(9+$(0+&;"(&"8+22"(&"1'(..+2&"#'(#"$+,2+1#"&'*$#+$<#+$7"#$+./&;
1+.#+$+/" *." &'*$#+$<#+$7" 7*9-.0" (9+$(0+&;" ,*$" )*%$" (.(2)&+&" *," -.#+$(1#-*.&
3+#8++."&'*$#+$<#+$7"(./"2*.0+$<#+$7"7($:+#"#$+./&5"
.*)+5$%&'5/)'./+%%)0
@$+(#+" (" 1'(..+2" ($*%./" #'+" 7*9-.0" (9+$(0+&" #'(#" )*%" +742*)" 3)" /$(8-.0" 2-.+&
3(&+/"*."*,,&+#&"3)"("/+,-.+/"4+$1+.#(0+"(3*9+"(./"3+2*8"#'+"2+9+2"*,"#'+"7*9-.0
(9+$(0+&"3+-.0"%&+/5"C'+"2-.+&"1$+(#+/"#'+$+3)"3+1*7+"#'+"%44+$"(./"2*8+$"3*%./<
($-+&"*,")*%$"7*9-.0"(9+$(0+"1'(..+25"? 2-.+"$+4$+&+.#-.0"#'+"2+9+2"*,"#'+"7*9-.0
(9+$(0+"-#&+2,"3+1*7+&"#'+"1+.#+$"2-.+"*,"#'+"1'(..+25"
P*$" +B(742+;" &%44*&+" #'(#" #'+" NO</()" 7*9-.0" (9+$(0+" *," #'+" 12*&-.0&" *," #'+
S#(./($/"T"I**$U&"LMM"!./+B"&#(./&"(#"O;MMM"(./"#'(#"8+"8(.#"#*"1$+(#+"("1'(..+2
8-#'"3*%./($-+&"VW"(3*9+"(./"VW"3+2*8"#'+"7*9-.0"(9+$(0+"G(1#%(22);"("4$+##)".*$<
7(2"1*.,-0%$(#-*.",*$"#'-&"-./+BH5"C'+"NO</()"(9+$(0+;"O;MMM;"8*%2/"2-+"(#"#'+"1+.#+$
*,")*%$"1'(..+25"? 2-.+"VW"(3*9+"#'+"NO</()"(9+$(0+"GO;MMM"X"VW"*,"O;MMM"Y"O;MVMH
8*%2/"/+&-0.(#+"#'+"%44+$"3*%./($)"*,"#'+"NO</()"1'(..+2;"(./"("2-.+"VW"3+2*8"#'+
NO</()"(9+$(0+"GO;MMM"Z"VW"*,"O;MMM"Y"[\MH"8*%2/"/+&-0.(#+"#'+"2*8+$"3*%./($)"*,
#'+"NO</()"1'(..+25
?/+5'@)%&5/'">'A>>1)5'B/";0-'<)'31)-C'
6(#'+7(#-1(2",*$7%2(&"1(."3+"+742*)+/"#*"/+#+$7-.+"(7*%.#&"*,"*,,&+#"#'(#"7-0'#
3+" %&+/" -." 7*9-.0" (9+$(0+" #$(/-.0" 3(./&;" #*" +.1*74(&&" /+,-.-#+" 4+$1+.#(0+&" *,
4$-1+"7*9+7+.#"3%#;",*$"4$(1#-1(2"4%$4*&+&;"#'+"+B(1#"(7*%.#"*,"*,,&+#"+742*)+/"-&
4$*3(32)".*#"1$-#-1(25"
C'+"7*$+"9*2(#-2+"#'+"%./+$2)-.0"7($:+#"3+-.0"#$(1:+/"-&;"#'+"8-/+$"#'+"1'(..+2
&'*%2/"3+"(./"#'+"0$+(#+$")*%$"*,,&+#&"8-22"3+",*$"(.)"0-9+."2+.0#'"*,"7*9-.0"(9+$<
(0+5"?&"("0+.+$(2"$%2+;")*%"&'*%2/"+742*)"*,,&+#&"#*")*%$"7*9-.0"(9+$(0+&"&*"#'(#
(44$*B-7(#+2)"]LZ[MW"*,"4$-1+"7*9+7+.#"*,"#'+"/(#("#'(#")*%"($+"#$(1:-.0"2-+&"8-#'<
-." #'+" 3*%./($-+&" *," #'+" #$(/-.0" 1'(..+25" C'+" +B(1#" 4+$1+.#(0+" -&" .*#" 1$%1-(25" C'+
3(./&"1(."0+.+$(22)"3+"&+#"3)"+)+"-,")*%"'(9+"("1*74%#+$"4$*0$(7"#'(#"(22*8&")*%
#*"+B4+$-7+.#"8-#'"9($)-.0"1'(..+2"8-/#'&5"
S*7+"(.(2)&#&"&%00+&#"#'(#"3(./&"3+"&+#"&*"#'(#"[LW"*,"(1#-9-#)"#(:+&"42(1+"8-#'<
-."#'+"1'(..+25"!",-./"-#"%&+,%2"#*"(22*8"("2-##2+"7*$+",$+D%+.1)"-."+B1%$&-*.&"*%#&-/+
#'+"7*9-.0"(9+$(0+"1'(..+2;"3%#"#'-&"-&"(27*&#"1+$#(-.2)".*#"("1$%1-(2"/-,,+$+.#-(#-*.5"
"#8 $%&'()&*+,-(*+./)/
C'+"(7*%.#"*,"*,,&+#",$*7"#'+"7*9-.0"(9+$(0+"-&"-.,2%+.1+/"3)"#8*",(1#*$&="#'+
9*2(#-2-#)"*,"#'+"7($:+#" -./+B" *$"-.9+&#7+.#"9+'-12+" #'(#" )*%"($+"#$(1:-.0"(./"#'+
2+.0#'"*,"#'+"7*9-.0"(9+$(0+5"C'+"7*$+"9*2(#-2+"#'+"/(#("-&;"#'+"7*$+"#'+",2%1#%(#-*.
-&"(./"#'+"8-/+$"#'+"7*9-.0"(9+$(0+"1'(..+2"-&5"C'+"2*.0+$"#'+"7*9-.0"(9+$(0+"-&;
#'+" 8-/+$" #'+" 1'(..+2" -&" 3+1(%&+" 2*.0+$<#+$7" 7($:+#" &8-.0&" +.1*74(&&" 2($0+$
$(.0+&"*,"7*9+7+.#"#'(."&'*$#+$<#+$7"7($:+#"&8-.0&5"!,")*%"'(9+"(11+&&"#*"("#+1'<
.-1(2" 1*74%#+$" 4$*0$(7;" )*%" 1(." +B4+$-7+.#" (./" &+#" )*%$" 1'(..+2&" #*" 8'(#" )*%
3+2-+9+"#*"3+"("3+&#",-#",*$")*%$"-.9+&#7+.#"9+'-12+5
6(.)" %&+$&" *," 7*9-.0" (9+$(0+" #$(/-.0" 3(./&" (/E%&#" 3(./" 8-/#'" (&" 7($:+#
9*2(#-2-#-+&" $-&+" (./" ,(22;" %&-.0" &#(#-&#-1(2" /+9-1+&" &%1'" (&" &#(./($/" /+9-(#-*.&" *9+$
9($-*%&"4+$-*/&"*,"#-7+"#*"#$(1:"1'(.0-.0"9*2(#-2-#)5"^(./"8-/#'&".($$*8"(&"7($:+#
9*2(#-2-#)"/+1$+(&+&"(./"+B4(./"(&"7($:+#"9*2(#-2-#)"-.1$+(&+&5"_*'."^*22-.0+$"/+9+2<
*4+/" ^*22-.0+$" 3(./&",*$" #'-&" 4%$4*&+;" 8'-1'"/+,-.-#+2)"4$*9-/+"1+$#(-."3+.+,-1-(2
-.,*$7(#-*.5"!"4$+,+$"1*.&#(.#<8-/#'"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2&"#'(#"4$*9-/+
1+$#(-."-.,*$7(#-*."-."(",*$7"#'(#"!",-./"7*&#"%&+,%25"`+(/+$&"7-0'#"8(.#"#*"+B42*$+
#'+"%&+"*,"^*22-.0+$"3(./&"*."_*'."^*22-.0+$U&"K+3"&-#+;"88853*22-.0+$3(./&51*75"
`+7+73+$"&).+$0)a"6(-.#(-."1*.,-$7-.0"-./-1(#*$&"(./"#-7+"1)12+&"#*"0*"(2*.0
8-#'" )*%$"#$(/-.0" 1'(..+2&5" `+7(-." (2+$#" #*" 3%22-&'" (./" 3+($-&'" 1'($#" ,*$7(#-*.&5
6*9-.0"(9+$(0+"#$(/-.0"1'(..+2&"($+"4*8+$,%2"#**2&"-."(./"*,"#'+7&+29+&;"3%#;"2-:+
6?@A;"#'+)"3+.+,-#",$*7"*%#&-/+"1*.,-$7(#-*."8'+."&%1'"1*.,-$7(#-*."-&"(9(-2(32+5
!"#$%&'(#)*+&)',*+-$%&'./+%%)01'$%'AD)*+5$"%'
!"#$%&'()%*+,&(-&.(/$)0&1/*2"0*&32"4$)0&'5"))*6
7"#4"8&'(9+(#$,*&:;<<=>?&@"$6A
5"#$%&'( K J
F
! @ I
"++ E "++
H
1
G
L )*!+&,$-./0'1$2/34&13
' !"#$%&'(
0!+ 0!+
+ +
LM =BCDBC@"A&.1'@&E)4$%",(2
!" !# "$ " # !$ "* *+ / !
%&'() ,-.
!"#$%&'() <+1$8'."%8)D512',/)'E+1-+F'."9D"1$5)G'HIIJ
012)(3,-2%4*3%,$4*5)(3,6'*((%+/ "#9
!."(//-#-*."#*"("OV</()"7*9-.0"(9+$(0+"2-.+;"($*%./"8'-1'"($+"%44+$"(./"2*8+$
3(./"3*%./($-+&"G]W"(3*9+"(./"3+2*8"#'+"7*9-.0"(9+$(0+H;"#'+"1'($#"&'*8&"#'+
O[<"#*"b[</()"6?@A"-./-1(#*$5"!#&"4(##+$.&"-.#+$(1#"8+22"8-#'"4(##+$.&"#'(#"1(."3+
*3&+$9+/"-."#'+"$+2(#-*.&'-4&"3+#8++."/(-2)"2+9+2&"*,"#'+"Q(&/(D"@*74*&-#+"(./
-#&"7*9-.0"(9+$(0+"#$(/-.0"1'(..+25
(*)+'(2',/)'./+*5'AD)%1':$5/'+'!+*K)5'L":%5*)%-'
?&"@'($#"[5O"&#($#&"-."6($1'"NMMO;"("&+$-*%&"&#*1:"7($:+#"/*8.#$+./"-&"%./+$8()5
I$-1+" 2+9+2&" *," #'+" Q(&/(D" @*74*&-#+" ($+" /+12-.-.0;" #$(1:-.0" (2*.0" #'+" 2*8+$
3*%./($)"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2;"8'-1';"-#&+2,;"-&"-."("12+($"/*8.<
#$+./5"!."(//-#-*.;"#'+"/+12-.+&"-."4$-1+"#$+./"(./"1'(..+2"/-$+1#-*."($+"1*.,-$7+/
3)"#'+"O[<"#*"b[</()"6?@A"-./-1(#*$;"-."-#&"7*&#".+0(#-9+"1*.,-0%$(#-*.;"/+12-.<
-.0" 3+2*8" -#&" &-0.(2" 2-.+" (./" 3+2*8" M5" C'-&" 1*.,2%+.1+" *," .+0(#-9+" 4$-1+" #$+./&;
.+0(#-9+" 2*.0+$" 7*9-.0" (9+$(0+" #$+./;" (./" .+0(#-9+" 6?@A" 4(##+$.&" &%00+&#&
2*8+$"4$-1+&"('+(/5"
c*8+9+$;"(&"4$-1+&"-."?$+("? *."#'+"1'($#"#$(-2"/*8.;"#'+)"&#$(//2+"#'+"2*8+$
3*%./($)"*," #'+" 7*9-.0"(9+$(0+" #$(/-.0"1'(..+2;"$+,2+1#-.0" (."*9+$&*2/"1*./-<
#-*."-."#'+"&#*1:"7($:+#d"#'+"/*8.8($/"7*7+.#%7"*,"#'+"/+12-.+"-&"'-0'5"?&"(
0+.+$(2"$%2+;"*+,-.&)/0&%".&1%234&5#$4.%&,1,#--6&*72%&#-8#61/&3#7&9.&:,$3"#1.;
<2$& #%& -.#1%& #& 1"2$%=%.$5& ,:18>7?& 8".7& :$>3.1& ;.3->7.& %2& 9.-28& %".& -28.$
92,7;#$>.1&2<&#&1>?7><>3#7%&52@>7?&#@.$#?.&%$#;>7?&3"#77.-(&C'+$+"-&"("&#$*.0
2-:+2-'**/" *," &*7+" &*$#" *," (" $+1*9+$)" 8'+." 4$-1+&" 0+#" #'-&" ,($" +B#+./+/" #*" #'+
/*8.&-/+5"S%$+"+.*%0';"(2#'*%0'"("3%)"(#"#'+"2+,#"*,"#'+"1'($#;"8'+."(22"*,"("/(-2)
$(.0+"2()"3+2*8"#'+"2*8+$"#$(/-.0"3(./;"*39-*%&2)"8*%2/"'(9+"3++."4$+7(#%$+;
-#"1*%2/"'(9+"3++."12*&+/"*%#"8-#'"("&2-0'#"4$*,-#"*$"3$+(:<+9+."(#"?$+("^;"8'+.
4$-1+&".+B#"$(22-+/"#*"#'+"($+("*,"#'+"/*8.#$+./+/"7*9-.0"(9+$(0+5
^)"(./"2($0+;"'*8+9+$;"&%1'"&1(24-.0"(##+74#&"($+"3+&#"(9*-/+/"8'+."9-$#%(2<
2)"(22"#$+./&"(./"7+(&%$+&"*,"4$-1+"7*7+.#%7"$+7(-."-."("&#(#+"*,"/+#+$-*$(#-*.5
!#"-&"%&%(22)"("3+##+$"4*2-1)"#*"(8(-#"&*7+"-74$*9+7+.#"-."#'+"#+1'.-1(2"&#$%1#%$+5
(*)+'<2',/)'M$*15'N)8"#)*6'N+006
C'+",-$&#"$+1*9+$)"$(22)"#(:+&"42(1+"(#"?$+("^;"(./"8+"1*7+"#*"*%$"&+1*./"#$(/-.0
$%2+"$+2(#-.0"#*"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2&=
+,-.&A0&B1&#&?.7.$#-&$,-.C&%".&<>$1%&$#--6&<2--28>7?&#&;2871>;.&:.7.%$#%>27&2<
%".&-28.$&92,7;#$6&2<&#&52@>7?&#@.$#?.&%$#;>7?&3"#77.-&>1&->4.-6&%2&<#>-C&<$.=
D,.7%-6&1%#-->7?&#%&%".&52@>7?&#@.$#?.&->7.&>7&%".&3.7%.$&2<&%".&3"#77.-C&8">3"
72$5#--6&#3%1&#1&$.1>1%#73.&%2&>7>%>#-&$#-->.1&<$25&@.$6&2@.$12-;&:21>%>271(&
!,"#'+"4+.+#$(#-*."#'$*%0'"(./"3+2*8"#'+"2*8+$"3*%./($)"*,"#'+"#$(/-.0"1'(.<
.+2"'(&"3++."1*.&-/+$(32+;"4+$'(4&"(&"8-/+"(&"'(2,"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0
1'(..+2"-#&+2,;"#'+",-$&#"($+("*,"$+&-&#(.1+"7-0'#"2-+"(#"#'+"2*8+$"3(./"*,"#'+"1'(.<
.+2"$(#'+$"#'(."(#"#'+"1+.#+$"3(./"7*9-.0"(9+$(0+"2-.+5"
"#: $%&'()&*+,-(*+./)/
!.",(1#;"#'+"Q(&/(D"@*74*&-#+"(#"?$+("^"/-/"$+1*9+$"#*"#'+"1+.#+$"2-.+"*,"#'+"#$(/<
-.0"1'(..+2;"#'+"OV</()"7*9-.0"(9+$(0+;"8'+$+"-#"7+#"8'(#"1*%2/"'(9+"3++."(.#-1-<
4(#+/"$+&-&#(.1+5"C'-&"8(&"#'+",-$&#"&+$-*%&"(##+74#"(#"$+1*9+$)",*22*8-.0"("&+$-+&"*,
/*8.&-/+"4+.+#$(#-*.&"#'$*%0'"#'+"2*8+$"3*%./($)"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0
1'(..+25"?&"4+$"`%2+"N;"#'+",(-2%$+"*,"#'+"$(22)"(#"#'+"1+.#+$"3(./"8(&"#*"3+"+B4+1#+/5
(*)+'O2',/)',)8/%$8+0'P$85;*)'=9D*"#)1'
?#"@;"4$-1+&"'(9+"(0(-.",(22+."#*"3+2*8"#'+"2*8+$"3*%./($)"*,"#'+"#$(/-.0"1'(..+25
c*8+9+$;"1+$#(-."1'(.0+&"'(9+"#(:+."42(1+"-."(".%73+$"*,"-./-1(#*$&;"&%00+&#-.0"(.
-74$*9-.0"#+1'.-1(2"4-1#%$+5"
P*$"*.+"#'-.0;"#'+"6?@A"-&".*"2*.0+$"-."/+12-.+"(./"-&"1$+(#-.0"("4*&-#-9+"/-9+$<
0+.1+="2*8+$"4$-1+&;"$-&-.0"6?@A5"? /*%32+"3*##*7"-."#'+"6?@A"'(&"/+9+2*4+/;"(&
&'*8."-."?$+("e5"!."(//-#-*.;"#'+"4(##+$."*,"4$-1+"/+12-.+",$*7"^"#*"@"(44+($&"#*"3+
#(:-.0"#'+",*$7"*,"("/+12-.-.0"8+/0+;"("3%22-&'",*$7(#-*.5"GC'+"/*8.&-/+"&2*4+&"#'(#
1(."3+"/$(8.",$*7"^Z@"(./"?Z@"($+"1*.9+$0-.05H"
!."2-0'#"*,"#'+&+"/+9+2*47+.#&;"(00$+&&-9+"-.9+&#*$&"7-0'#"3+"E%&#-,-+/"-."(&&%7<
-.0"2*.0"4*&-#-*.&"/%$-.0"#'+"4+$-*/&"($*%./"?$+("@"8'+."4$-1+&"2-+"(#"*$"3+2*8"#'+
2*8+$"3(./"*,"#'+"#$(/-.0"1'(..+2"G$+7+73+$"`%2+"OH5"C'+"0+.+$(2"4(##+$."&%00+&#&
("7($:+#"$+1*9+$)"#*"(#"2+(&#"#'+"7-//2+"3(./"*,"#'+"#$(/-.0"1'(..+2;"8-#'"(#"2+(&#
,(-$"4*&&-3-2-#-+&"*,"(."(##(1:"*."#'+"%44+$"3(./"3+1(%&+"#'-&"-&"#'+"&+1*./;".*#"#'+
,-$&#;"(##+74#"(#"$(22)",$*7"#'+"2*8+$"3(./5"
(*)+'L2',/)'3DD)*',*+-$%&'<+%-'=1'N)+8/)-
?&"7(##+$&"#%$.+/"*%#;"4$-1+&"7*9+/"#'$*%0'"#'+"7-//2+"3(./"*,"#'+"#$(/-.0"1'(.<
.+2" #*" #'+" %44+$" 3*%./($)" G?$+(" AH5" C'-&" 3$-.0&" %&" #*" `%2+" b" *," 7*9-.0" (9+$(0+
1'(..+2&=
+,-.& E0& +#-->.1& %"#%& 2$>?>7#%.& <$25& %".& -28.$& 9#7;& 92,7;#$6& 2<& %".& 52@>7?
#@.$#?.& %$#;>7?& 3"#77.-& ,1,#--6& 5..%& $.1>1%#73.& #%& %".& 3.7%.$& ->7.C& .1:.3>#--6& ><
1,3"&$#-->.1&#$.&%".&<>$1%&#%%.5:%&#%&$#--6&<$25&%".&-28.$&9#7;(&F28.@.$C&><&%".&3.7=
%.$&->7.&2<&%".&3"#77.-&>1&:.7.%$#%.;C&%".&7.G%&#$.#&2<&$.1>1%#73.&8>--&2<%.7&9.&%".
,::.$&92,7;#$6&->7.&2<&%".&52@>7?&#@.$#?.&%$#;>7?&3"#77.-(&
(*)+'Q2'P*$8)1'N)5*+8)'5"'5/)'.)%5)*'./+%%)0'
?#"?$+("A;"4$-1+&"$+(1'"#'+"%44+$"3*%./($)"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2;
$+#$+(#-.0"#'+$+(,#+$"#*"f;"#'+"1+.#+$"2-.+"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+25"
+,-.&H0&I<&:$>3.1&$.#3"&%".&,::.$&92,7;#$6&2<&%".&%$#;>7?&3"#77.-C&,7-.11&%.3"=
7>3#-& 327;>%>271& #$.& ,7,1,#--6& 8.#4C& %".& <>$1%& #$.#1& 2<& 1,::2$%& ;,$>7?& >7>%>#-
;2871>;.&32$$.3%>271&#$.&->4.-6&%2&;.@.-2:&#%&%".&3.7%.$&->7.&2<&%".&3"#77.-C&2$&#%
%".&52@>7?&#@.$#?.&->7.(&
?0(-.;" 4$-1+&" '(9+" (/9(.1+/" (./" $+(1'+/" #'+" %44+$" 3*%./($)" *," #'+" #$(/-.0
1'(..+25"C+1'.-1(2"-./-1(#*$&"($+"-74$*9-.05"C'+"6?@A"'(&"#%$.+/"%4;"$-&-.0"(3*9+
-#&"&-0.(2"2-.+5"C'+"7*9-.0"(9+$(0+"1'(..+2"-#&+2,"'(&"#%$.+/"%45"S#(0+"O"*,"6?@A
G3(&-.0H" '(&" 0-9+." 8()" #*" S#(0+" N" G$-&-.0H5" ?2#'*%0'" #'+" &#*1:" 7($:+#" -&" 12+($2)
&'*8-.0" -74$*9-.0" &#$+.0#';" -#" 1(." &#-22" 3+" /(.0+$*%&" #*" 3%)" .+($" *$" (3*9+" #'+
%44+$"3*%./($-+&"*,"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2&5"!#"-&"0+.+$(22)"&(,+$"#*"8(-#
012)(3,-2%4*3%,$4*5)(3,6'*((%+/ "#;
,*$"("7($:+#"4%223(1:"#*"#'+",-$&#"($+("*,"&%44*$#;"#'+"7*9-.0"(9+$(0+"2-.+"*,"#'+
#$(/-.0" 1'(..+25" C'-&" ($+(" %&%(22)" $+4$+&+.#&" (." +B1+22+.#" 3%)-.0" g*.+" -," )*%
7-&&+/"#'+"-.-#-(2"4'(&+"*,"#'+"$(22)"*$"8(.#"#*"(//"#*"4*&-#-*.&5"C'+"-.-#-(2"$+#$(1+<
7+.#",$*7"#'+"%44+$"3*%./($)"*,"#'+"1'(..+2"GAH",-./&"&%44*$#"(#"#'+"1+.#+$"2-.+
*,"#'+"1'(..+2"GfH5"
(*)+'M2'=9D*"#$%&'!+*K)5'!"9)%5;9'."%>$*9)-
C'+" &#*1:" 7($:+#" (0(-." ,*22*8&" #'$*%0'5" I$-1+&" .*#" *.2)" $-&+" ,$*7" ?$+(" f" #*" #'+
%44+$"3*%./($)"*,"#'+"#$(/-.0"1'(..+2;"3%#"#'+)"3$+(:"#'$*%0'"#*"(3*9+"#'+"%44+$
3(./"3*%./($)5"
<;00$1/'=%-$8+5$"%1
@*74($+" #'+" &2*4+" *," #'+" (/9(.1+" ,$*7" @" #*" A" G@'($#" [5OH" 8-#'" #'+" &2*4+" *," #'+
(/9(.1+",$*7"f"#*"P5"C'+"(/9(.1+",$*7"f"#*"P"-&"#(:-.0"42(1+"8-#'"("0$+(#+$"9+$#-1(2
&2*4+;"-./-1(#-.0"(."-.1$+(&+"-."4*&-#-9+"7*7+.#%75"^%22-&'a"C'+"7*9-.0"(9+$(0+
1'(..+2"-&"(2&*"$-&-.0"(#"(."-.1$+(&-.0"$(#+5"^%22-&'a"C'+"$-&-.0"&2*4+"*,"#'+"6?@A"-&
-.1$+(&-.0"(&"8+225"
!74$*9-.0"&2*4+&;"("$-&-.0"6?@A;"(./"%4&-/+"4+.+#$(#-*."*,"#'+"1'(..+2"($+"(22
4*&-#-9+"-./-1(#-*.&5"C'+"*//&"($+"'-0'"#'(#"#'+".+B#"7($:+#"$+(1#-*."8-22",-./"&%4<
4*$#"(#".*"2*8+$"#'(."#'+"7-/2-.+"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+25"
(*)+'R2',/)'.)%5)*'@$%)'">'5/)'!"#$%&'(#)*+&)',*+-$%&'./+%%)0
?&"+B4+1#+/;"4$-1+&",-./"&%44*$#"(#"h;"#'+"1+.#+$"2-.+"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0
1'(..+25"C'+"#$(/-.0"&8-.0"'(&"(0+/"("3-#;"3%#"8-#'"%4&-/+"7*7+.#%7"&#-22"*."#'+
$-&+;" #'+" /+12-.+" #*" h" 4$*9-/+&" *.+" 7*$+" *44*$#%.-#)" #*" #(:+" (" $+2(#-9+2)" 2*8<$-&:
+.#$)"-.#*"#'+"&#*1:"7($:+#5
(*)+'S2'?+*%$%&'B$&%1'
I$-1+&" (/9(.1+" #*" #'+" %44+$" 3*%./($)" *," #'+" 1'(..+2" GcH;" 3%#" 8($.-.0" &-0.&" ($+
3+0-..-.0"#*"(44+($5"C'+"&2*4+"*,"(/9(.1+",$*7"h"#*"c"-&".*#"(&"&'($4"(&"#'+"&2*4+
*,"(/9(.1+",$*7"f"#*"P5"i4&-/+"7*7+.#%7"-&"/+12-.-.05"
I$-1+&"(#"c"($+"%.(32+"#*"4+.+#$(#+"#'+"%44+$"3(./"(&"#'+)"/-/"(#"P5"C'-&"-&"(.*#'<
+$"&-0."*,"8+(:+.-.0"7*7+.#%7;"8'-1'"-.#$*/%1+&"*%$".+B#"$%2+=
+,-.&J0&I<&#&5#$4.%&#;@#73.&;2.1&72%&3#$$6&:$>3.1&#1&<#$&#92@.&2$&#1&3-21.&%2&%".
,::.$&52@>7?&#@.$#?.&3"#77.-&92,7;#$6&#1&%".&:$.@>2,1&#;@#73.C&%">1&>1&#&1>?7
2<& 8.#4.7>7?& 5#$4.%& 525.7%,5& #7;& #& 8.#4.7>7?& 5#$4.%( !." #+$7&" *," 7*9-.0
(9+$(0+"1'(..+2"#'+*$);"#'-&",(-2%$+"#*"1($$)"(&",($"(3*9+"*$"#*"#'+"%44+$"3(./"3*%./<
($);"+9+."-,"4$-1+&"$+(1'".+8"$+1*9+$)"'-0'&;"$+4$+&+.#&"(".+0(#-9+"/-9+$0+.1+"8-#'
3+($-&'"-742-1(#-*.&5"
(*)+1'='5"'T2'A%)'M$%+0'(55)9D5',/+5'M+$01'
C'+$+"8(&"E%&#"+.*%0'"-74+#%&"#*"#'+"7($:+#"(/9(.1+",*$"4$-1+&"#*"&%44*$#"*.+"2(&#
#-7+"(#"#'+"1+.#+$"2-.+"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2"G!H;"8'+$+"#'+"7($:+#
&#(0+/"*.+",-.(2"$(22)"(##+74#"#*"_5"c*8+9+$;"#'-&",(-2+/"#*"$+(1'"#'+"%44+$"3(./"*,
#'+"#$(/-.0"1'(..+2"3+,*$+"-#"1(7+"#*"("1*.12%&-*.5
"#< $%&'()&*+,-(*+./)/
C'+$+"-&".*8"("&%11+&&-*."*,"#'$++"7($:+#"4+(:&;"8'-1'"'(9+"/+9+2*4+/"(#"4$*<
0$+&&-9+2)"2*8+$"2+9+2&"-."$+2(#-*."#*"#'+"%44+$"3(./"3*%./($)"*,"#'+"7*9-.0"(9+$<
(0+"#$(/-.0"1'(..+25"?2#'*%0'"#'+"4+(:"(#"c"8(&"(1#%(22)"'-0'+$"-."#+$7&"*,"4$-1+
#'(." #'+" 4+(:" (#" P;" -#" 8(&" .*#" '-0'+$" -." #+$7&" *," #'+" $+2(#-*.&'-4" *," 4$-1+" #*" #'+
3*%./($-+&"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+25"C'+"4+(:"(#"_",(-2+/"*."(22"1*%.#&
#*"7(#1'"4$+9-*%&"4+(:&5"C'-&"4$*0$+&&-*."*,"8+(:+.-.0"4+(:&FP;"c;"_F-742-+&"(
8+(:+.-.0"*,"#'+"&#*1:"7($:+#5"
C'+",(-2%$+"(#"c"*,"#'+"&#*1:"7($:+#"#*"4+.+#$(#+"#'+"%44+$"3*%./($)"*,"#'+"7*9<
-.0" (9+$(0+" #$(/-.0" 1'(..+2" 4$*9-/+/" (" 8($.-.0" *," 8+(:+.-.0" &#$+.0#'5" C$(/+$&
8*%2/" '(9+" 3++." 8+22<(/9-&+/" #*" 2-0'#+." %4" *." &'*$#<#+$7" 7($:+#" &#$+.0#';" ,*$
+B(742+;".+($"c;"(./"/+,-.-#+2)"-."#'+"($+("*,"_5"
G!#"0*+&"8-#'*%#"&()-.0"#'(#"4+(:&"($+"7*$+"*39-*%&"(,#+$"#'+)"'(9+"*11%$$+/"#'(.
(#" #'+" #-7+" #'+)" ($+" (1#%(22)" #(:-.0" 42(1+5"?#" _;" )*%" 7-0'#" '(9+" 3++." '+24+/" 3)" (
7-.*$"C<,*$7(#-*.;"cZ!Z_;"#'(#"/+9+2*4+/",$*7"("/-7-.-&'-.0"&2*4+"#*"#'+"(/9(.1+
,$*7"!"#*"_;"8-#'"#'+"4+(:"(#"_"%2#-7(#+2)"$+1+-9-.0"1*.,-$7(#-*."#'+".+B#"/()"8'+.
4$-1+&"+&#(32-&'+/"2*8+$"'-0'&"(./"2*8+$"2*8&"*."("/(-2)"3(&-&5"?&"8+":.*8;"("1+$<
#(-."(7*%.#"*,"&%3E+1#-9-#)"(28()&"-&"-.9*29+/"-."1'($#"(.(2)&-&5H
C'+" &%3&+D%+.#" /+12-.+" #*" j" 3$*%0'#" 4$-1+&" /*8." #*" 3+2*8" #'+" 1+.#+$" 7*9-.0
(9+$(0+"2-.+;"8'-1';"(#"f;"h;"(./"!;"'(/"3++."(32+"#*"1*.#(-."7($:+#"/+12-.+&5"
+,-.&K0&I<&#&5#$4.%&#;@#73.&<#>-1&%2&3#$$6&%2&%".&,::.$&9#7;&2<&#&%$#;>7?&3"#7=
7.-C& %".& 7.G%& ;.3->7.& 8>--& :$29#9-6& :.7.%$#%.& %".& 52@>7?& #@.$#?.& 2$& 3.7%.$& ->7.
1,::2$%(
,/)'<+1$8'."%8)D5'
K-#'"+(1'"&8-.0"*,"#'+"&#*1:"7($:+#"G(./"*#'+$"7($:+#&H;"1*74($+"#'+"4*8+$"*,"-#&
-74%2&+"8-#'"#'+"4*8+$"*,"#'+"-74%2&+"*,"#'+"7($:+#"&8-.0"#'(#"4$+1+/+/5"!,"4$-1+&
($+",(22-.0;")*%"7-0'#"8(.#"#*"1'+1:"*%#"&*7+"4+$#-.+.#"-&&%+&5"!&"#'+"6?@A"2*&-.0
*$" 0(-.-.0" /*8.&-/+" 7*7+.#%7k" ?$+" /+12-.+&" 1($$)-.0" 2*8+$" -." $+2(#-*." #*" #'+
7*9-.0" (9+$(0+" 2-.+" (./" #*" #'+" 3*##*7" 3*%./($)" *," #'+" 7*9-.0" (9+$(0+" #$(/-.0
1'(..+2k" ?$+" &2*4+&" #*" /+12-.+&" -.1$+(&-.0" *$" 7*/+$(#-.0k" !&" #'+" 1'(..+2" -#&+2,
/+12-.-.0"8-#'"0$+(#+$"*$"2+&&+$"7*7+.#%7k
K-#'"+(1'"&8-.0"*,"#'+"7($:+#"#*"#'+"%4&-/+;"D%+&#-*."#'+"$+9+$&+5"?$+"%4&8-.0&
0(-.-.0"*$"2*&-.0"7*7+.#%7k"S2*4+&k"6?@A"4(##+$.&k"`+2(#-*.&'-4&"*,"4$-1+"#*"#'+
%44+$"3*%./($-+&"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2k"l*%"8-22"*,#+."3+"(32+"#*
0(-."-.&-0'#"-.#*",%#%$+"/+9+2*47+.#&"3)"1*74($-.0"#'+"4$+&+.#"#*"#'+"4(&#5"
012)(3,-2%4*3%,$4*5)(3,6'*((%+/ "#!
,/)'Q#"0;5$"%'">'P/+1)1'?$5/$%'5/)'!"#$%&'(#)*+&)',*+-$%&
./+%%)0
('.0+11$8',"DD$%&'M"*9+5$"%'5"'Q%-'+'!+U"*'<;00'!+*K)5
@$--*2*),&N5"#*#&O$,5$)&,5*&.(/$)0&1/*2"0*&32"4$)0&'5"))*6
7"#4"8&'(9+(#$,*?&@"$6A ' G
9++ 9++
56#$%&'( 1 H E
29+ 29+
@ .
! F
2++
I 2++
K
)*!+&,$-./0'1$2/34&13
*9+ !6#$%&'( *9+
0!+
J S 0!+
/+ /+
$+ $+
9+ 9+
2+ =PC@"A&QRE&E)4$%",(2 2+
*+ *+
"++ "++
+ +
=BCDBC@"A&.1'@&E)4$%",(2
* !+ !1 "2 *! / !2 "" "1 $ !* "+ "/ * !+ !/ "2 !
"+++ 345'6-'. ,-'78 %&'() ,-'78
!"#$%&'(A ,/)'M$%+0',*+%1$5$"%'>*"9'+'<;00'5"'<)+*'!+*K)52',/)'E+1-+F'."9D"1$5)G'HIII
R,"1*%$&+;"7(.)"&-0.&"*,"-.1-4-+.#"/(.0+$"+7+$0+/"(&"#'+"&4+1%2(#-9+"3%22"7($:+#"*,
#'+"O[[M&"/$+8"#*"(."+./"/%$-.0"O[[["(./"NMMM5"K+"'(9+"$+9-+8+/"3$+(/#'",(-2%$+&
#'(#" #**:" 42(1+" /%$-.0" #'-&" 4+$-*/5" P%./(7+.#(2" 9(2%(#-*.&" -./-1(#+/" 0$*&&" *9+$<
4$-1-.0"*,"&#*1:&"3(&+/"%4*."/-9-/+./"4()*%#;"+($.-.0&;"(./"3**:"9(2%+"$+2(#-*.<
&'-4&"#*"&#*1:"4$-1+&5"!.9+&#*$&;"3*#'"(7(#+%$"(./"4$*,+&&-*.(2;"'(/"3+1*7+"'-0'2)
&4+1%2(#-9+;"8-#'"-.#+$+&#"1+.#+$-.0"2($0+2)"*."#+1'.*2*0)"(./"!.#+$.+#"-&&%+&5"6(.);
-," .*#" 7*&#;" &#%/+.#&" *," #'+" &#*1:" 7($:+#" $+1*0.-g+/" #'+" +B1+&&+&" *," #'+" /();" 3%#
7(.)"8+$+"(,$(-/"#*"2+(9+"#'+"4($#)"#**"&**.5"
6*9-.0"(9+$(0+"#$(/-.0"1'(..+2&;"'*8+9+$;"4$*9-/+/"+B1+22+.#"&-0.(2&"#*"+B-#"#'+
,$();" (&" ,-.+"(." ($$()"*,"+B-#"8($.-.0&"(&"8+"7-0'#"+9+$"+B4+1#5">+#U&" #%$." .*8" #*
@'($#"[5N5
"=# $%&'()&*+,-(*+./)/
./+*5'VWH2',/)'=%&*)-$)%51'
@'($#"[5N"&'*8&"("OV</()"7*9-.0"(9+$(0+"*,"#'+"Q(&/(D"@*74*&-#+;"(./"("7*9-.0
(9+$(0+"#$(/-.0"1'(..+2"1$+(#+/"8-#'"#$(/-.0"3(./&"\W"(3*9+"(./"\W"3+2*8"#'+"OV<
/()"7*9-.0"(9+$(0+5"^+.+(#'"#'+"4$-1+"(./"7*9-.0"(9+$(0+"1'($#"-&"("1'($#"*,"#'+
OV</()" `+2(#-9+" S#$+.0#'" !./-1(#*$" G`S!H;" (" 7+(&%$+" *," 7($:+#" 7*7+.#%75" ^+2*8
#'(#"-&"#'+".*8<,(7-2-($"O[<"#*"b[</()"6?@A"!./-1(#*$;"#'+"1*73-.(#-*."7*&#"*,#+.
+742*)+/",*$"&+22-.0"4%$4*&+&5"
!."(//-#-*."#*"+B(7-.-.0"$+2(#-*.&'-4&"3+#8++."#'+"7*9+7+.#"*,"4$-1+"(./"#'+
7*9+7+.#"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2;"8+"8-22"3+"1*.&-/+$-.0"$+2(#-*.<
&'-4&" (7*.0" 4$-1+;" #'+" 7*9-.0" (9+$(0+" #$(/-.0" 1'(..+2;" (./" #'+&+" #8*" 4*4%2($
7+(&%$+&" *," 7($:+#" 7*7+.#%7;" #'+" `S!" (./" 6?@A5" C'+" `S!" 8(&" /+9+2*4+/" 3)
K+22+&"K-2/+$"G(%#'*$" *,"!"#$%&'(")*+$ ,'$-"(.',(/0$1'/02+,+H"/%$-.0"#'+"2(#+"O[mM&;
(./"-#"$+7(-.&"(7*.0"#'+"7*&#"4*4%2($"#+1'.-1(2"-./-1(#*$&5
R%$"(.(2)&-&"*,"#'+",-$&#"7*.#'&"*,")+($"NMMM"3+0-.&"8-#'"(".+8"$%2+"$+0($/-.0
#$(/-.0"1'(..+2&=
+,-.&L0&I<&#&5#$4.%&%2:&2$&5#$4.%&-28&>7;>3#%.;&96&%".&#3%>27&2<&:$>3.&52@.=
5.7%& 8>%">7& %".& 52@>7?& #@.$#?.& %$#;>7?& 3"#77.-& >1& 327<>$5.;& 96& 1,::2$%>7?
%.3"7>3#-&>7;>3#%2$1C&%".&2;;1&2<&#&%$.7;&$.@.$1#-&%#4>7?&:-#3.&>73$.#1.(&B 167.$=
?>1%>3&#::$2#3"&%2&%$#;>7?&9#7;1&>1&;.<>7>%.-6&,1.<,-(&
>+#U&".*8"&++"#'+"(442-1(#-*."*,"#'-&"$%2+5
T+%;+*6'HIII2',/)'<;00'!+*K)5'$%'E+1-+F'!"#)1'(0"%&'B5)+-$06'
C'+"Q(&/(D"&#($#+/"#'+")+($"NMMM"-."("D%-+#"3%#"&#+(/)"%4#$+./;"8-#'"4$-1+&"$-&-.0
D%-+#2);".+-#'+$"$+(1'-.0"#'+"%44+$"3(./"*,"#'+"#$(/-.0"1'(..+2".*$"/+12-.-.0"#*"(&
2*8"(&"#'+"2*8+$"3(./5"C'+"7*9-.0"(9+$(0+"-#&+2,"8(&"%4#$+./+/5"S%44*$#-.0"#+1'<
.-1(2"-./-1(#*$&"$+,2+1#+/"#'+"D%-+#"&#$+.0#'"*,"#'+"Q(&/(D"@*74*&-#+="C'+"`S!"8(&
7*9-.0"8-#'-."("3%22-&'"$(.0+"3+#8++."LM"G.+%#$(2H"(./"mM"G&#$*.0"%4&-/+"7*7+.<
#%7H5"6?@A"4(##+$.&"(2&*"#$(9+2+/"-."(",2(#"3%#"4*&-#-9+"($+(;"12+($2)"(3*9+"M5"
?."-74$*9+7+.#"-."&#$+.0#'"/+9+2*4+/"-."P+3$%($)"(&"4$-1+&"$+(1'+/"#'+"%44+$
3*%./($)" *," #'+" #$(/-.0" 1'(..+2" G?$+(" ?H;" (." (11*742-&'7+.#" $+,2+1#+/" 3)
-74$*9+7+.#&" -." 3*#'" #'+" `S!" (./" #'+" 6?@A5" S%$+" +.*%0';" #'+" /+12-.+" ,$*7"?
,*%./"&%44*$#"(#"#'+"1+.#+$"2-.+"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2;"^;"G`%2+"VH
3+,*$+"&#($#-.0"%48($/"(0(-.5"
C'+"(/9(.1+"#*"#'+",-.(2"4+(:"(#"@"8(&",(-$2)"0$(/%(2"3%#"&#+(/)5"?2#'*%0'"#'+
&2*4+"*,"#'+"(/9(.1+",$*7"^"#*"@"8(&"7*/+$(#+;"#'+",-.(2"'-0'"4*-.#"G@H"8(&"1*.<
,-$7+/"3)"3*#'"#'+"`S!"(./"#'+"6?@A;"&*"#'+$+"8(&".*"$+(22)"12+($"8($.-.0"*,"#'+
-.-#-(2"3+($"7($:+#"/+12-.+"#'(#"/-$+1#2)"#**:"4$-1+&"3+2*8"#'+"7*9-.0"(9+$(0+"2-.+
*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2"#*"A;".*#"D%-#+"#*"#'+"2*8+$"3(./;"3%#"3+2*8
#'+" 7*9-.0" (9+$(0+" 1+.#+$" 2-.+;" (" 4+.+#$(#-*." 8($.-.0" #'(#" &*7+#'-.0" 7-0'#" 3+
0*-.0"(7-&&5
(*)+'Q2',/)'M;%'+%-'R+9)1'">'5/)'<;00'!+*K)5'."9)'5"'+%'Q%-
I$-1+&"#$(1+/"*%#"("/*%32+<3*##*7",*$7(#-*."3+,*$+"#'+)"$*&+"(0(-.;"#'-&"#-7+"#*"f;
(."($+("12*&+"#*"3%#".*#"(#"#'+"%44+$"3(./"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+25
C'+",(-2%$+"*,"#'+"Q(&/(D"@*74*&-#+"#*"$+(1'"#'+"%44+$"3(./"(#"f"(,#+$"(11*742-&'<
-.0"#'-&"#(&:"(#"?$+("@"8(&;"-."-#&+2,;"("&+$-*%&"8($.-.0"*,"#$*%32+"#*"1*7+5
012)(3,-2%4*3%,$4*5)(3,6'*((%+/ "==
+,-.&M0&I<&#&5#$4.%&:.#4&<#>-1&%2&3#$$6&#1&">?"&#1&#&:$.@>2,1&5#$4.%&:.#4C&%".
2;;1&#$.&?22;&%"#%&%".&7.G%&;.3->7.&8>--&3#$$6&%2&#&-.@.-&9.7.#%"&%".&-.@.-&2<
%". -28&#$.#&9.%8..7&%".&%82&:.#41(&I<&#&5#$4.%&-28&>1&<2--28.;&96&#&-28.$&-28C&%".
2;;1&#$.&%"#%&#&<2--28>7?&$#--6&8>--&72%&$>1.&#92@.&%".&:.#4&-.@.-&2<&%".&$#--6&%"#%
%224&:-#3.&9.%8..7&%".&%82&-281(&
6*$+*9+$;"(&"4+$"`%2+"m;"&%44*$#-.0"#+1'.-1(2"-./-1(#*$&"4$*9-/+/",%$#'+$"8($.<
-.0" *," -.1-4-+.#" 4$*32+7&" #*" 1*7+5" P*$" +B(742+;" #'+" `S!" -./-1(#*$" ,(-2+/;" (#" f;" #*
$+(1'" $+1+.#" 4+(:" 2+9+2&;" -./-1(#-.0" /-7-.-&'-.0" %4&-/+" 7*7+.#%75" Q*#-1+" #'+
/-9+$0+.1+"3+#8++."4$-1+"(./"`S!5"I$-1+"2+9+2&"8+$+".+($2)"(&"'-0'"(#"f"(&"(#"@d"'*8<
+9+$;"`S!"2+9+2&"12+($2)"/-7-.-&'+/"3+#8++."4$-1+"4+(:&"S-7-2($2);"6?@A"4(##+$.&
#%$.+/"/*8."+9+."(&"#'+"4$-1+"'-0'&"*,"+($2)"6($1'"8+$+"3+-.0"(44$*(1'+/5"C'+"O[<
#*"b[</()"6?@A"2-.+",+22"3+2*8"-#&"&-0.(2"2-.+;"#$(1-.0"*%#"("/+12-.-.0"/*%32+<#*4
,*$7(#-*."(&"#'+"&#*1:"7($:+#"/+12-.+/",$*7"?$+("f5
? /+12-.+" #*" 3+2*8" #'+" 2*8&" *,"?$+(" A;" 4$*3(32)" #*" #'+" 2*8+$" 3*%./($)" *," #'+
#$(/-.0" 1'(..+2;" (./" 4*&&-32)" (" &-0.-,-1(.#" #$+./" $+9+$&(2" 8(&" #*" 3+" +B4+1#+/" ,*$
#'+&+"$+(&*.&=
J"C'+"$(22)"#*"f",(-2+/"#*"$+(1'"#'+"2+9+2&"*,"#'+"$(22)"#*"@5"C'-&"&%00+&#+/"#'(#"
#'+"+.&%-.0"7($:+#"/+12-.+"8*%2/"1($$)"#*"3+2*8"#'+"2*8&"*,"?$+("A;"#'+"2*8&"
#'(#",*22*8+/"%4*."#'+"$(22)"#*"@"G`%2+"]H5"
J"S%44*$#-.0"#+1'.-1(2"-./-1(#*$&"G`S!"(./"6?@AH"'(/"3*#'"#$(1+/"*%#"/+12-.-.0
'-0'&"G`%2+"mH5"
J"S+22-.0"(1#-*."8*%2/"3+"-./-1(#+/"(./"%./+$#(:+."(&"#'+"4$-1+"2+9+2"*,"#'+"
Q(&/(D"@*74*&-#+;"`S!;"(./"6?@A"$+(/-.0&"#%$.+/"/*8."/%$-.0"#'+"#'-$/"
8++:"*,"6($1'5"
(*)+'M2',*)%-'N)#)*1+0'=1'."%>$*9)-'+%-'."9D0)5)-
C'+"Q(&/(D"@*74*&-#+"/-/"/+12-.+"#*"3+2*8"?$+("A;"#*"#'+"3*##*7"3(./"*,"#'+
7*9-.0"(9+$(0+"#$(/-.0"1'(..+2;"?$+("P5"C'-&"/+12-.+"1*.,-$7+/"#'(#"(#"2+(&#"(.
-.#+$7+/-(#+" $+9+$&(2" -." #$+./" '(/" #(:+." 42(1+=" 2*8+$" '-0'&" *," @Zf;" (./" 2*8+$
2*8&"*,"AZP5
?11*$/-.0"#*"`%2+&"N"(./"b;"8+"7-0'#"'(9+"+B4+1#+/"4+$'(4&"("$+1*9+$)"#*"#'+
1+.#+$"2-.+"*,"#'+"7*9-.0"(9+$(0+"1'(..+2;"3%#"#'+"(##+74#"(#"$+1*9+$)",$*7"P"#*"h
4$*/%1+/"9-$#%(22)".*#'-.0"-."#'+"8()"*,"%4&-/+"$+#$(1+7+.#"3+,*$+"4$-1+&"/+12-.+/
#'$*%0'" #'+" 3*##*7" 3(./" *," #'+" 7*9-.0" (9+$(0+" #$(/-.0" 1'(..+2" #*"?$+(" c;" 8+22
3+2*8" #'+" 7*9-.0" (9+$(0+" 2*8+$" 3*%./($)5" C'-&" -./-1(#+/" -.1$+(&-.0" /*8.&-/+
7*7+.#%75
?$+("c"4$*/%1+/"("&'*$#<#+$7"7($:+#"(/9(.1+"G`%2+"OH"#'(#"&#*44+/;"(&"+B4+1#<
+/;"(#"#'+"1+.#+$"2-.+"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+25"C'(#"8(&"0**/"+.*%0';
4*&&-32);",*$"(."(00$+&&-9+"&'*$#<#+$7"#$(/+$;".*#".+($2)"+.*%0'"#*"1*.,-$7"("$+9+$<
&(2"*,"8'(#"8(&"3+1*7-.0"("&+$-*%&"/*8.#$+./5"
C'+"&'*$#<2-9+/"$+1*9+$)"#*"#'+"1+.#+$"2-.+"G!H"8(&",*22*8+/"3)"("$+.+8+/"7($<
:+#"/+12-.+"#*"?$+("_;",($"3+2*8"#'+"2*8+$"3*%./($)"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0
"=" $%&'()&*+,-(*+./)/
1'(..+25"C'+"/+12-.+"4$*/%1+/"9+$)"*9+$&*2/"$+(/-.0&;"(&",($"(&"4$-1+"$+2(#-*.&'-4&
#*"7*9-.0"(9+$(0+&"8+$+"1*.1+$.+/"G4$-1+&"9+$)",($"3+2*8H;"-."#'+"`S!"G#'+"bM"2+9+2
-&"("'-0'2)"*9+$&*2/"2+9+2H;"(./"-."#'+"6?@A"G.*8"D%-#+"+B#+./+/"-.".+0(#-9+"#+$$-<
#*$)H5"c*8+9+$;"/*8.&-/+"7*7+.#%7"$+7(-.+/"9+$)"'-0'5
,/)'L)#)0"D9)%5'">'+'<"55"9'M"*9+5$"%'
C'+"Q(&/(D"@*74*&-#+",-.(22)",*%./"&%44*$#"(#"?$+("_"(./"(/9(.1+/"$(4-/2)"#*"j;
8'+$+"-#"7+#"$+&-&#(.1+"(#"#'+"2*8+$"3*%./($)"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(.<
.+2"G`%2+"NH5"
I$-1+&"/-44+/"("2-##2+",$*7"?$+("j"#*"?$+(">;"8-#'"#+1'.-1(2"4(##+$.&"-74$*9-.0
1*.&-/+$(32)" -." #'+" 4$*1+&&5" ^+#8++." _" (./" >;" #'+" `S!" #$(1+/" *%#" (" 3%22-&'" $-&-.0
/*%32+<3*##*7" ,*$7(#-*.5" C'+" 0(4" 3+#8++." #'+" 6?@A" (./" -#&" &-0.(2" 2-.+" .($<
$*8+/"/%$-.0"#'-&"4+$-*/;"8-#'"#'+"6?@A"#%$.-.0"%4"(&"4$-1+&"$(22-+/",$*7"?$+(
>5"C'+"&2*4+"*,"#'+"7*9-.0"(9+$(0+"1'(..+2;"8'-1'"'(/"3++."&'($42)"/*8.#$+./<
+/;" 7*/+$(#+/;" 1*.,-$7-.0" (" 8+(:+.-.0" *," /*8.&-/+" 7*7+.#%75" P-.(22);" #'+
Q(&/(D"@*74*&-#+"-#&+2,"/-/".*#"/+12-.+"(&",($"3+2*8"#'+"7*9-.0"(9+$(0+"3(./"(#
> (&"-#"'(/"(#"_5"
K-#'"?$+("> /+9+2*4-.0"(#"("'-0'+$"2+9+2"#'(."?$+("_;"-#"8(&".*#"&%$4$-&-.0"#*"&++
#'+"$(22)",$*7"> $-&+"#*"6;"(3*9+"#'+"2+9+2&"*,"?$+("j;"8'-1'"'(/",*22*8+/"%4*."#'+
(/9(.1+",$*7"_5"? 4(##+$."*,"'-0'+$"2*8&;"_Z>;"(./"'-0'+$"'-0'&;"jZ6;"8(&".*8"-.
42(1+;"$+9+$&-.0"#'+"-.#+$7+/-(#+"/+12-.+"#'(#"'(/"3++."-."42(1+5
K+"1(."2+($."#'+&+"2+&&*.&",$*7"@'($#"[5N=
J"C'+"2*1(#-*.&"*,"4$+9-*%&"7($:+#"#%$.-.0"4*-.#&"-."$+2(#-*."#*"#'+"7*9-.0"(9+$<
(0+"#$(/-.0"1'(..+2"*,#+."4$*9-/+"$*(/7(4&"#*"&%3&+D%+.#"7($:+#"(1#-*.5"
J"?&"("0+.+$(2"$%2+;"(0(-.;"(/9(.1+&"#*"*$"(3*9+"#'+"%44+$"3*%./($-+&"*,"7*9-.0"
(9+$(0+"#$(/-.0"1'(..+2&"($+"2-:+2)"#*"3+",*22*8+/"3)"$+(1#-*.&"#'(#"8-22",-./"
&%44*$#"(#"#'+"1+.#+$"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+25
J"S-7-2($2);"/+12-.+&"#*"*$"+&4+1-(22)"3+2*8"#'+"2*8+$"3*%./($-+&"*,"#'+"7*9-.0"
(9+$(0+"#$(/-.0"1'(..+2"($+"2-:+2)"#*"7++#"-.-#-(2"$+&-&#(.1+"(#"#'+"1+.#+$"2-.+"*,"
#'+"7*9-.0"(9+$(0+"1'(..+25
J"?/9(.1+&"#*"8+22"(3*9+"*$"/+12-.+&"#*"8+22"3+2*8"#'+"7*9-.0"(9+$(0+"3*%./<
($-+&"7-0'#"7++#"&%44*$#"*$"$+&-&#(.1+"G$+&4+1#-9+2)H"(#"#'+"3*%./($-+&"*,"#'+"
1'(..+25
J"6($:+#"(/9(.1+&"#'(#"1$*&&"#'+"1+.#+$"2-.+&"*,"#'+"1'(..+2"-."+-#'+$"/-$+1#-*."
'(9+"(#"2+(&#"(",(-$"1'(.1+"*,",*22*8-.0"#'$*%0'"#*"#'+"1'(..+2"3*%./($)5"
J"@*.,-$7"7*9-.0"(9+$(0+"1'(..+2"4(##+$.&"8-#'"*#'+$"#+1'.-1(2"-./-1(#*$&5
!"#$%&'(#)*+&)'./+%%)01'+%-'5/)'!+U"*',*)%-
>-:+"#'+"6?@A;"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2&"1(."3+"+742*)+/"#*"$+,2+1#"7(E*$<
(&"8+22"(&"-.#+$7+/-(#+<"(./"&'*$#<#+$7"7($:+#"#$+./&5"6*.#'2)"3(&+/"1'($#&"1(."3+
+742*)+/",*$"#'-&"4%$4*&+5"
012)(3,-2%4*3%,$4*5)(3,6'*((%+/ "=7
6($:+#" -./-1+&" &%1'" (&" #'+" S#(./($/" T" I**$U&" LMM" !./+B" (./" #'+" QlSf" !./+B
G&'*8." '+$+;" (/E%&#+/" #*" $+,2+1#" 1'(.0+&" -." -#&" 1(21%2(#-*.H" 4+$,*$7+/" &#$*.02)
3+#8++."O[[L"(./"+($2)"O[[[5"K+"8-22"#$(1:"#'+"7(E*$"4+$(73%2(#-*.&"#'(#"(44+($"-.
@'($#"[5b5
@$--*2*),&N5"#*#&O$,5$)&,5*&.(/$)0&1/*2"0*&32"4$)0&'5"))*6
H
/++
G /++
$$+ !"#$%&'()'*+,-.%/'0,123 E I $$+
$"+ ' $"+
91+ K 91+
92+ 1 F 92+
5))#$%&'( @
9++ 9++
2$+ J 2$+
2"+
! S 2"+
*1+ *1+
*2+
7)!-.'89$-./0'1$2/34&13 *2+
*++ !))#$%&'( *++
"$+ "$+
1+ 1+
/+ /+
$+ $+
9+ 9+
DBE?E=F40;!2?,<=>8
2+ 2+
!" !"
1 1
2 !#:*#;,<=>8?,%@A:?#;,<=>8?B(C=-) 2
+ +
$ !##/ !##1 !### "+++ "++! "++"
!"#$%&'(E ('@"%&X,)*9'!"#$%&'(#)*+&)',*+-$%&'./+%%)02',/)'E4BQ'=%-)YG'!"%5/06
<+1)-G'JVVZ[HIIH
JVVZ[JVV\2'B5*"%&'<;00$1/'3D5/*;15'
C'+" &#*1:" 7($:+#" 8(&" &#$*.02)" %4#$+./+/" 3+#8++." O[[\" (./" 7-/<O[[]5" I$-1+&
#$(1:+/" 8+22" (3*9+" #'+" %44+$" 3*%./($)" *," #'+" NO<7*.#'" 7*9-.0" (9+$(0+" #$(/-.0
1'(..+2;" /+12-.+&" ,*%./" &%44*$#" (#" #'+" %44+$" 3*%./($);" (./" &#$+.0#'" -74$*9+/
#'$*%0'"?$+("? %.#-2"(",-.(2"/*%32+<#*4",*$7(#-*."/+9+2*4+/5"
,/)'M$*15'."**)85$"%'B5"D1'+5'5/)'.)%5)*'./+%%)0'@$%)'
? 7*$+" &+$-*%&" 7($:+#" 1*$$+1#-*." /+9+2*4+/" /%$-.0" #'+" &%77+$" *," O[[]5
!.#+$+&#-.02)"+.*%0';"#'-&"&#*44+/"$-0'#"(#"#'+"1+.#+$"1'(..+2"2-.+"G^H"*,"#'+"7(E*$<
#+$7"1'($#;"(."+B(742+"*,"#'+"3+.+,-#"*,"7(-.#(-.-.0"2*.0+$<#+$7"(&"8+22"(&"&'*$#+$<
#+$7"7*9-.0"(9+$(0+"1'(..+2"1(21%2(#-*.&"(./"1'($#&5"
"=8 $%&'()&*+,-(*+./)/
N)1;*&)%8)'">'!+*K)5'(-#+%8)'
I$-1+&" $+1*9+$+/" ,$*7" ^;" #'+" 1+.#+$" 1'(..+2" 2-.+;" 7*9-.0" 3(1:" %48($/" #*" @;" (./
#$(1:-.0"(0(-."(3*9+"#'+"%44+$"3(./"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2F3%#
.*#"(&",($"(3*9+"#'+"1'(..+2"(&"#'+)"'(/"#$(1:+/"-."?$+("?5"?0(-.;"4$-1+"/+12-.+&"-.-<
#-(22)"8+$+"&%44*$#+/"(#"#'+"%44+$"3(./;"(./"("/+12-.+"-."2(#+"O[[[",*%./"&%44*$#"(#
#'+"7-/1'(..+2"2-.+"GAH5"
,)8/%$8+0'?+*%$%&1'L)#)0"D'
?2#'*%0'" 4$-1+" 2+9+2&" $+(1'+/" .+8" '-0'&" -."?$+(" @;" (" .%73+$" *," .+0(#-9+" /-9+$<
0+.1+&"#'(#"'(/"/+9+2*4+/;"&%00+&#-.0"-.1$+(&-.0"/(.0+$"#*"#'+"7(E*$"%4#$+./=
J"!."?$+("@;"4$-1+"2+9+2&"*,"#'+"QlSf"!./+B"/-/".*#"$-&+"(&",($"(3*9+"#'+"%44+$"
3*%./($)"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2"(&"#'+)"'(/"$-&+."-."?$+("?5"
C'-&",(-2%$+"1*.&#-#%#+&"("7*9-.0"(9+$(0+"#$(/-.0"1'(..+2".+0(#-9+"/-9+$0+.1+5
J"C'+"OV<7*.#'"`S!"#$(1+/"*%#"("/+12-.-.0"/*%32+"#*4"(&"?$+("@"/+9+2*4+/;"
$+,2+1#-.0"/-7-.-&'-.0"%4&-/+"4$-1+"7*7+.#%75
J"C'+"O[<"#*"b[<7*.#'"6?@A",(-2+/"#*"1*.,-$7".+8"7($:+#"'-0'&"(&"8+225"C'+"
0+.+$(2"4-1#%$+"&%00+&#+/"#'(#"#'+"7($:+#"(/9(.1+"8(&"7(#%$-.0;"#'+"&#($#"*,"("
S#(0+"b"/-&#$-3%#-*."4+$-*/5
,/)',"D'M"*9+5$"%'!"#)1'(0"%&
C'+"/+12-.+",$*7"?$+("@"(0(-.",*%./"&%44*$#"(#"#'+"NO<7*.#'"7*9-.0"(9+$(0+"2-.+
GAH5" I$-1+&" #'+." $*&+" #*" f;" #'+" %44+$" 1'(..+2" 3*%./($)d" /+12-.+/" #*" P;" #'+" 1+.#+$
1'(..+2"2-.+d"(./"$+1*9+$+/"#*"h;".*#"D%-#+"(#"#'+"%44+$"3*%./($)5"
C'+",(-2%$+"*,"#'+"&#*1:"7($:+#"#*"$+(1'"#'+"%44+$"3(./"&%00+&#+/"#'(#"#'+".+B#
/+12-.+"8*%2/"4+.+#$(#+"#'+"1+.#+$"*$"7-/1'(..+2"2-.+d"#'-&"8(&"#'+"1(&+"/%$-.0"#'+
&%3&+D%+.#"/+12-.+",$*7"h"#*"c5"
!+U"*'L":%5*)%-'R)51'B)*$";106'3%-)*:+6'
C'+"2*.0<#+$7"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2"'(/"4$*9-/+/"-.9+&#*$&"8-#'"7(.)
8($.-.0&"*,"(."-.1-4-+.#"3+($"7($:+#5"
I+(:&" (#"?$+(&"?;" @;" f;" (./" h" '(/" (22" #(:+." 42(1+" (#" &%11+&&-9+2)" 2*8+$" 2+9+2&;
7+(&%$+/" 3)" #'+" /-&#(.1+" 3+#8++." 4$-1+" 2+9+2" *," #'+" QlSf" !./+B" (./" #'+" %44+$
3*%./($-+&"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+25"6($:+#"/+12-.+&"(#"A;"P;"(./"c
'(/" 1($$-+/" 4$-1+&" 3*#'" 2*8+$" (./" /++4+$" 8-#'-." #'+" 1'(..+25" C'+" `S!" (./" #'+
6?@A"3*#'"/+9+2*4+/"12+($"/*8.#$+./&"(./"%2#-7(#+2)",+22"-.#*".+0(#-9+"#+$$-#*$)5"
012)(3,-2%4*3%,$4*5)(3,6'*((%+/ "=9
P+55)*%1'B;&&)15'+'P/+1$%&XA;5'">'@"%&'P"1$5$"%1'
C'+" 0$(/%(2" 8+(:+.-.0" *," 7*9-.0" (9+$(0+" 1'(..+2" 4(##+$.&;" 1*%42+/" 8-#'" /+<
12-.-.0"6?@A"4(##+$.&"(./"$+/%1#-*.&"-."`S!"7*7+.#%7;"&%00+&#+/"&*7+"-.-#-(2
1(%#-*." (&"?$+("@"/+9+2*4+/;" ,%$#'+$" 1*.,-$7+/" 3)" (" 8+(:+.-.0" *," 7*7+.#%7
-./-1(#*$&"(#"#'+"4+(:;"f;"(./"+&4+1-(22)"(#"h5"
?&"4(##+$.&"*,"#'-&".(#%$+"+7+$0+;"#'+"&#$(#+0)"-&"0+.+$(22)"#*"0$(/%(22)"4'(&+"*%#
2*.0"4*&-#-*.&;"#*"42(1+"12*&+$"&#*4&"*."$+7(-.-.0"4*&-#-*.&;"(./"#*"-.1$+(&+"&+22-.0
(1#-9-#)"(&"+($2)"8($.-.0&"*,"("8+(:+.-.0"7($:+#"3+1*7+"1*.,-$7+/5"
K+"($+"2**:-.0".*#"&*"7%1'",*$"("*.+</()"&-0.(2"#*"+B-#"(22"2*.0"4*&-#-*.&"(&"7%1'
(&",*$"("0+.+$(2"($+("-."8'-1'"#*"&'-,#"+74'(&-&",$*7"3%)-.0"(./"#'+."#*"'*2/-.0"(./
#'+."#*"0$(/%(22)"&+22-.0"4*&-#-*.&"(&"S#(0+"b"G#*44-.0H"*,"#'+"&#*1:"7($:+#"7*9+&
(2*.0"#*"#'+"&#($#"*,"S#(0+"V"G/+12-.-.0H5
B$&%$>$8+%5'L":%5;*%'=1'."%>$*9)-'
^)"?$+("c;"#'+"QlSf"!./+B"'(/"&'*8."("&+D%+.1+"*,"2*8+$"'-0'&"(./"2*8+$"2*8&
G3+#8++."h"(./"cH5"C'+",(-2%$+"*,"#'+"&#*1:"7($:+#"#*"4+.+#$(#+"#'+"7-/1'(..+2"2-.+
8-#'"(.)"&-0.-,-1(.1+"G!H"&-742)"1*.,-$7+/"#'+"8($.-.0"&-0.(2&"#'(#"8+$+"3+-.0"0+.<
+$(#+/5
C'+" S#(0+" b" /-&#$-3%#-*." 4+$-*/" 7*9+/" -.#*" (" S#(0+" V" /+12-.+" (&" #'+" Q+8"l*$:
S#*1:"fB1'(.0+"!./+B"/+12-.+/",$*7"!"#*"_;"#'+"2*8+$"3*%./($)"*,"#'+"7*9-.0"(9+$<
(0+"#$(/-.0"1'(..+25"A%$-.0"#'-&"4$*1+&&;"#'+"7*9-.0"(9+$(0+"1'(..+2"-#&+2,"#%$.+/
7*$+"12+($2)"/*8.8($/5
?&" 8+" '(9+" 1*7+" #*" +B4+1#;" #'+" 3,4+* $(22)" ,$*7" #'+" 2*8+$" 3*%./($)" 7+#" 8-#'
$+&-&#(.1+"(#"#'+"1+.#+$"1'(..+2"2-.+"GjH"3+,*$+"/+12-.-.0"(0(-."#*">;"3+2*8"#'+"2*8+$
3*%./($)"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+25"
C'+" &#*1:" 7($:+#" %2#-7(#+2)" ,*%./" &%44*$#" 2(#+$" -." NMMN;" 8'+$+" #'+" S#(0+" V
/+12-.+"0(9+"8()"#*"(".+8"S#(0+"O"4+$-*/"*,"(11%7%2(#-*.5"
I$-1+"(1#-*."/*+&".*#"(28()&",*22*8"7*9-.0"(9+$(0+"#$(/-.0"3(./"$%2+&"8-#'"#'+
4$+1-&-*."#'(#"8+"'(9+"3++."&++-.0;"3%#"8+"1(."1+$#(-.2)"&++"7(.)"*11(&-*.&"8'+.
4$-1+"7*9+7+.#&"'(9+",*22*8+/"#'+"-742-1(#-*.&"*,"7*9-.0"(9+$(0+"#$(/-.0"1'(.<
.+2"4(##+$.&5"
"=: $%&'()&*+,-(*+./)/
S":'5"'."%15*;85'+'P*$8)]!"#$%&'(#)*+&)'L$>>)*)%5$+0
A18$00+5"*
N2$%*T.(/$)0&1/*2"0*&@$--*2*),$"6&U#%$66",(2
' G
7"#4"8&'(9+(#$,*?&@"$6A
9++ 9++
H
56#$%&'(
1 E
29+ 29+
@ F .
! I
2++ K 2++
)*!+&,$-./0'1$2/34&13
*9+ !6#$%&'( *9+
J S
0!+ N2$%*T.(/$)0&1/*2"0*&@$--*2*),$"6&U#%$66",(2 0!+
56#$%&'(
+G+ +G+
;+G! ;+G!
!6#$%&'(
!+ !1 "2 *! / !2 "" "1 $ !* "+ "/ * !+ !/ "2 !

"+++ 345'6-'. ,-'78 %&'()
!"#$%&'(H ."%15*;85$%& +'!"#$%&'(#)*+&)'P*$8)'A18$00+5"*2',/)'E+1-+F'."9D"1$5)G

T+%;+*6[(D*$0'HIII
?2#'*%0'"4(##+$.&"#'(#"/+9+2*4"8-#'-."7*9-.0"(9+$(0+"#$(/-.0"1'(..+2&"#+22"#'+-$
*8." &#*$);" &*7+#-7+&" $+2(#-*.&'-4&" 3+#8++." 4$-1+" (./" 7*9-.0" (9+$(0+" 3+1*7+
12+($+$" -," #'+" /(#(" #'(#" -&" $+,2+1#+/" -." #'+" 7*9-.0" (9+$(0+" #$(/-.0" 1'(..+2" -&" 1*.<
9+$#+/"#*"("7*$+",(7-2-($"*&1-22(#*$",*$7(#5"
?&" -22%&#$(#+/" -." @'($#" [5V;" #'+" 1*.9+$&-*." -&" $+(/-2)" (11*742-&'+/5" C'-&" 1'($#
-.12%/+&"#'+"Q(&/(D"@*74*&-#+"!./+B"G/(-2)"3(&+/H;"8-#'"("OV</()"7*9-.0"(9+$(0+
8-#'"3(./"3*%./($-+&"42(1+/"\W"(3*9+"(./"3+2*8"#'+"OV</()"7*9-.0"(9+$(0+5"
C'+"2*8+$"&1(2+"*,"#'+"1'($#"-&"(."*&1-22(#*$"#'(#"1(."3+"1$+(#+/",$*7"7*9-.0"(9+$<
(0+" 1'(..+2" /(#(5" C'+" M" 2-.+" *." #'+" 2*8+$" &1(2+" $+4$+&+.#&" #'+" 2+9+2" *," #'+" OV</()
7*9-.0"(9+$(0+;"8'+$+9+$"#'(#"7-0'#"2-+5"C'+"%44+$"2-.+"*,"#'+"*&1-22(#*$"$+4$+&+.#&
#'+"%44+$"3*%./($)"*,"#'+"1'(..+2"(./"-&"&+#"\W"(3*9+"#'+"M"*$"7*9-.0"(9+$(0+"2-.+5
C'+"2*8+$"2-.+"*,"#'+"*&1-22(#*$"$+4$+&+.#&"#'+"2*8+$"3*%./($)"*,"#'+"1'(..+2;"&+#"\W
3+2*8" #'+"M" *$" 7*9-.0" (9+$(0+" 2-.+5" I*&#-.0&"#*" #'+" *&1-22(#*$" ($+"7(/+" +(1'"/();
$+,2+1#"#'+"/-,,+$+.#-(2"3+#8++."#'+"4$-1+"12*&+"(./"#'+"7*9-.0"(9+$(0+5
012)(3,-2%4*3%,$4*5)(3,6'*((%+/ "=;
C'+" *&1-22(#*$" /+,-.+/" #'+" 1*.&-&#+.#" &#$+.0#'" *," #'+" Q(&/(D" @*74*&-#+" /%$-.0
P+3$%($)"(./"+($2)"6($1'"NMMM5"C'+"4$-1+"2+9+2"*,"#'+"Q(&/(D"#$(1:+/"3+#8++."#'+
1+.#+$"2-.+"(./"#'+"%44+$"3*%./($)"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2;"8-#'"#'+
*&1-22(#*$"7*9-.0"3+#8++."#'+"M"2+9+2"(./"#'+"X\5MM"2+9+25"
C'+" 0$(/%(2" 8+(:+.-.0" *," 7($:+#" 7*7+.#%7" #'(#" /+9+2*4+/" (,#+$" #'+" 7($:+#
4+(:"(#"@"8(&"$+,2+1#+/"-."#'+"*&1-22(#*$;"8'-1'"&'*8+/"&#+(/-2)"/+12-.-.0"4+(:&"(./
2*8+$"2*8&"(&"#'+"Q(&/(D"@*74*&-#+",-$&#",2(##+.+/"(./"#'+."/+12-.+/5"
?."%4&-/+"9-*2(#-*."*,"#'+"/+12-.-.0"#$+./2-.+"-."2(#+"?4$-2"1*.,-$7+/"#'+"3%22-&'
-742-1(#-*.&"*,"#'+"-74$*9-.0"7*9-.0"(9+$(0+"1'(..+2"4(##+$.&"#'(#"/+9+2*4+/"(#
?$+("> (&"#'+"Q(&/(D"@*74*&-#+",*%./"(."-.#+$7+/-(#+"3*##*75
('N)#$):'">'5/)'^)6'N;0)1'(11"8$+5)-':$5/'!"#$%&'(#)*+&)
,*+-$%&'<+%-',*+-$%&'
@(21%2(#+" (./" 7(-.#(-." 7*9-.0" (9+$(0+" #$(/-.0" 3(./" 1'(..+2&" #'(#" %&+" /-,,+$+.#
7*9-.0"(9+$(0+"2+.0#'&"(./"/-,,+$+.#"#-7+",$(7+&"#*"$+,2+1#"7(E*$<;"-.#+$7+/-(#+<;
(./" &'*$#<#+$7" #$+./&" *," #'+" &#*1:" 7($:+#5" S+#" 3*%./($-+&" #*" +.1*74(&&" 3+#8++.
(44$*B-7(#+2)"]LZ[MW"*,"&#*1:"7($:+#"7*9+7+.#5"
J"?&"("0+.+$(2"$%2+;"-#"-&"&(,+"#*"3%)"4+.+#$(#-*.&"*,"#'+"2*8+$"3(./&"*,"7*9-.0"
(9+$(0+"#$(/-.0"1'(..+2&"8-#'"#'+"+B4+1#(#-*."#'(#;"-."#'+".*#<#**</-&#(.#"
,%#%$+;"#'+"7($:+#"8-22"$+1*9+$"(#"2+(&#"#*")*%$"3%)-.0"2+9+2"(./"4$*3(32)"&*7+
8'(#"'-0'+$5
J"?&"("0+.+$(2"$%2+;"#'+",-$&#"$(22)",*22*8-.0"("/*8.8($/"4+.+#$(#-*."*,"#'+"2*8+$
3*%./($)"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2"&#*4&"(#"#'+"7*9-.0"(9+$(0+;"
8'-1'"8-22"(1#"(&"$+&-&#(.1+5"!,"#'+"4+.+#$(#-*."*,"#'+"2*8+$"3*%./($)"'(&"3++."
1*.&-/+$(32+;"#'+",-$&#"$(22)"(##+74#"7-0'#"&#*4"(#"#'+"2*8+$"3*%./($)"2-.+5
J"`(22-+&"#'(#"*$-0-.(#+",$*7"#'+"2*8+$"3(./"*,"#'+"7*9-.0"(9+$(0+"#$(/-.0"1'(.<
.+2"*,#+."7++#"$+&-&#(.1+"(#"#'+"1+.#+$"2-.+"*,"#'+"1'(..+25"!,"#'+"1+.#+$"2-.+"*,"
#'+"1'(..+2"-&"4+.+#$(#+/;"#'+".+B#"($+("*,"$+&-&#(.1+"-&"2-:+2)"#*"/+9+2*4"(#"#'+"
%44+$"3*%./($)"*,"#'+"#$(/-.0"1'(..+25
J"!,"#'+"%44+$"3(./"-&"$+(1'+/"(./"1*.,-$7-.0"-./-1(#*$&"($+"4*&-#-9+;"#'+",-$&#"
($+("*,"&%44*$#"8-22"0+.+$(22)"3+".*"2*8+$"#'(."#'+"1+.#+$"2-.+"*$"($+("*,"#'+"
7*9-.0"(9+$(0+5
J"!,"("7($:+#"(/9(.1+",(-2&"#*"1($$)"4$-1+&"(&",($"(3*9+"#'+"7*9-.0"(9+$(0+"(&"#'+"
4$+9-*%&"7($:+#"(/9(.1+;"#'-&"-&"("&-0."*,"8+(:+.-.0"%4&-/+"7*7+.#%7"(./"
4*&&-32)"("8+(:+.-.0"&#*1:"7($:+#5"C'-&"4(##+$."&%00+&#&"("7($:+#"/*8.#%$."
-."#'+"$+2(#-9+2)".+($",%#%$+5"? $+9+$&+"*,"#'-&"4(##+$."/%$-.0"7($:+#"/+12-.+"
&%00+&#&"(",*$#'1*7-.0"%4&-/+"$+9+$&(25"
J"!,"("7($:+#"(/9(.1+",(-2&"#*"1($$)"#*"#'+"%44+$"3(./"*,"#'+"#$(/-.0"1'(..+2;"#'+"
.+B#"/+12-.+"8-22"4$*3(32)"4+.+#$(#+"#'+"1+.#+$"2-.+"*,"#'+"1'(..+25
"=< $%&'()&*+,-(*+./)/
J"!,"("7($:+#"#*4"G*$"7($:+#"2*8H"-./-1(#+/"3)"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2"
4(##+$.&"-&"1*.,-$7+/"3)"&%44*$#-.0"#+1'.-1(2"-./-1(#*$&;"#'+"*//&"*,"("#$+./"
$+9+$&(2"#(:-.0"42(1+"-.1$+(&+5"
J"!,"("7($:+#"4+(:",(-2&"#*"1($$)"(&"'-0'"(&"("4$+9-*%&"7($:+#"4+(:;"#'+"*//&"($+"
#'(#"#'+".+B#"/+12-.+"8-22"1($$)"#*"("2+9+2"3+.+(#'"#'+"2+9+2"*,"#'+"2*8"($+("
3+#8++."#'+"#8*"4+(:&5"!,"("7($:+#"2*8"-&",*22*8+/"3)"("2*8+$"2*8;"#'+"*//&"
($+"0**/"#'(#"(."-77+/-(#+"$(22)"8-22".*#"1($$)"(3*9+"#'+"2+9+2"*,"#'+"$(22)"#'(#"
#**:"42(1+"3+#8++."#'+"#8*"2*8&5"
=#
P;55$%&'=5'(00',"&)5/)*2
A*&+%$_$%&'4";*'!+*K)5
B5*+5)&$)1
Q*8"#'(#")*%"'(9+"("1*22+1#-*."*,"4$(1#-1(2"4*8+$"#**2&;"#'+"#-7+"'(&"1*7+"#*"*$0(.<
-g+")*%$"($$()"*,"#$(/-.0"8+(4*.&"-.#*"(."*$/+$2)"(44$*(1'"#*"#'+"&+2+1#-*."(./"#'+
#-7-.0"*,"&#*1:"7($:+#"-.9+&#7+.#&5"K-#'*%#",%$#'+$"(/*;"8+"7*9+"-.#*"#'-&"4$*1+&&5
,/)'M$*15'B5)D2'L)>$%)'5/)'!+U"*',*)%-'+%-'!+U"*',)*9
.680)1'">'5/)'B5"8K'!+*K)5
C$+./</+,-.-.0"#**2&="f742*)"#'+"#**2&"(./"4$*1+/%$+&"3+2*8"#*"/+,-.+"&-0.-,-1(.#
#$+./&"-."#'+"&#*1:"7($:+#5
J"C'+"/-$+1#-*."*,"7(E*$"#+$7"7*9-.0"(9+$(0+&F#'+"VM<8++:"*$"(44$*B-7(#+2)"
NMM</()"7*9-.0"(9+$(0+F-&"9+$)"%&+,%2",*$"#'-&"4%$4*&+5"@*.&-/+$".*#"*.2)"#'+"
/-$+1#-*.;"3%#"(2&*"1'(.0+&"-."#'+"&2*4+"*,"#'+"7*9-.0"(9+$(0+5"!#"-&"2+&&"&-0.-,-<
1(.#"-,"4$-1+&"2-+"(3*9+"*$"3+2*8"#'+"7*9-.0"(9+$(0+"*."(."(3&*2%#+"3(&-&5"
C$+./&"-."#'+"$+2(#-*.&'-4"*,"4$-1+"#*"7*9-.0"(9+$(0+"($+"7*$+"&-0.-,-1(.#5"GS++"
@'(4#+$"b;"n6*9-.0"?9+$(0+&"(./"`(#+&"*,"@'(.0+="C$(1:-.0"C$+./"(./"
6*7+.#%75oH
""# $%&'()&*+,-(*+./)/
J"S#%/)"#'+"/-$+1#-*."*,"2*.0+$<#+$7"7*9-.0"(9+$(0+"1'(..+2&"(./"#'+"4(##+$.&"
*,"4$-1+"7*9+7+.#"8-#'-."#'+&+"1'(..+2&5"GS++"@'(4#+$"[;"n6*9-.0"?9+$(0+"
C$(/-.0"@'(..+2&="i&-.0"l+&#+$/()U&"?1#-*."#*"@(22"C*7*$$*8U&"C%$.&5oH"
J"6(-.#(-."7*.#'2)"(./"8++:2);"-."(//-#-*."#*"/(-2);"6?@A"1'($#&5"GS++"
@'(4#+$"];"n?/9(.1+/"6*9-.0"?9+$(0+"@*.9+$0+.1+<A-9+$0+.1+"G6?@AH="C'+"
i2#-7(#+"6($:+#"C-7-.0"!./-1(#*$koH">**:",*$"7*.#'2)"(./"8++:2)"6?@A"4(#<
#+$.&",*$"-./-1(#-*.&"*,"&#$+.0#'"-."#'+"2*.0+$<#+$7"7($:+#"#$+./5
J"f742*)-.0"#'+"4$+9-*%&2)"7+.#-*.+/"#**2&;"#$)"#*"/+,-.+"(./"+&#(32-&'"#'+"4*&-<
#-*."*,"#'+"&#*1:"7($:+#"-."#+$7&"*,"-#&",*%$"&#(0+&5"C'+&+"-.12%/+"S#(0+"O;"3(&<
-.0"(./"(11%7%2(#-*.d"S#(0+"N;"$-&-.0;"#'+"7*&#"4*&-#-9+2)"/).(7-1"&#(0+d"
S#(0+"b;"#*44-.0"(./"/-&#$-3%#-*.d"(./"S#(0+"V;"/).(7-1"/+12-.+;"#'+"8+(:+&#"
&#(0+5"GS++"@'(4#+$&"b"(./"]5H
J"j++4"#$(1:"*,"2*.0+$<#+$7"-./-1(#*$&"#'(#"'(9+"'(/"("0**/"$+1*$/"-."#'+"4(&#"*,"
/+,-.-.0"7(E*$<#+$7"7($:+#"2*8"($+(&5"P*$"+B(742+;"$+9-+8"#'+"6(E*$"C+$7"
p*2(#-2-#)"6*/+2"G&++"@'(4#+$"m;"np*2%7+"fB#$+7+&;"p*2(#-2-#);"(./"p!e="`+1*0<
.-g-.0"@2-7(1#-1">+9+2&"(./"^%)-.0"R44*$#%.-#-+&"(#"6($:+#">*8"I*-.#&oH;"
(./"1'+1:",*$"$+9+$&(2"4(##+$.&;"12-7(1#-1"$+(/-.0&"*,".+8"'-0'"(./".+8"2*8"/(#(
G&++"@'(4#+$"\;"n^*##*7"P-&'-.0;"C*4"S4*##-.0;"S#()-.0"#'+"@*%$&+="I*8+$"C**2&"
C'(#"@*73-.+"6*7+.#%7"R&1-22(#*$&"8-#'"6($:+#"^$+(/#'"6+(&%$+7+.#&",*$"
!74$*9+/"6($:+#"C-7-.0oH;"(./"C`!Q"G&++"@'(4#+$"mH;"(&"8+22"(&",*$"7(E*$"3*#<
#*7",*$7(#-*.&"-."#'+"&#*1:"7($:+#5
J"A*".*#".+02+1#"&#*1:"7($:+#"#-7+"(./"4*2-#-1(2"1)12+&5"C'+"V]<7*.#'"*$"(44$*B-<
7(#+",*%$<)+($"&#*1:"7($:+#"1)12+"'(&"3++."&-0.-,-1(.#",*$"/+1(/+&5"GS++"@'(4#+$"L;
nI*2-#-1(2;"S+(&*.(2;"(./"C-7+"@)12+&="`-/-.0"#'+"C-/+&"*,"6($:+#"K(9+"6*9+<
7+.#&5oH 1 3/5&4,*"6$I$+<+2+1#-*.")+($&"'(9+"&'*8."0(-.&"-."#'+"S#(./($/"T"I**$U&
LMM"!./+B"/%$-.0"O\"*,"O[",*%$<)+($"1)12+&"&-.1+"O[bO5"R.2)"#8*")+($&;"O[bO"(./"
O[b[;"(1#%(22)"&'*8+/"2*&&+&d"O[Vm"8(&"("3$+(:<+9+.5"C'+"4$+<+2+1#-*.")+($"1)12+"
4$*/%1+/"OV"1*.&+1%#-9+"8-..-.0")+($&"3+#8++."O[LO"(./"NMMb5"GS++"@'(4#+$"L5H"
,/)'B)8"%-'B5)D2'./)8K'A;5'!+*K)5'!""-'=%-$8+5"*1'+%-
B)+1"%+0'.680)1
J"6(-.#(-."(./":++4"#$(1:"*,"#'+"Q(&/(DqQ+8"l*$:"S#*1:"fB1'(.0+"`+2(#-9+"
S#$+.0#'"!./-1(#*$5"GS++"@'(4#+$"N;"nC8*"r%-1:<(./<A-$#)"S#*1:"6($:+#"6**/"
!./-1(#*$&5oH"C'+"&#*1:"7($:+#"'(&"0+.+$(22)"4$*/%1+/"&%4+$-*$"$(#+&"*,"$+#%$."-."
9-$#%(22)"(22"7($:+#"&+1#*$&"/%$-.0"4+$-*/&"8'+."#'+"Q(&/(D"@*74*&-#+"'(&"2+/"
#'+"QlSf"!./+B"-."$+2(#-9+"&#$+.0#'5"!."(//-#-*."#*"#'+",*$7(2"#+1'.-D%+&",*$"/+<
,-.-.0"#'+"4*&-#-*."*,"#'-&"-./-1(#*$"/+&1$-3+/"-."@'(4#+$"N;")*%"7-0'#"7(-.#(-."
6?@A"$+(/-.0&"(./"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2&"3(&+/"%4*."8++:2)"2+9+2&
*,"#'-&"$+2(#-9+"&#$+.0#'"-./-1(#*$5
>?@@)(3,A@,-++,$13%@'%4B,C43*()D)(3,E1?4,0*4F%@,G@4*@%3)%/ ""=
J"6(-.#(-."(./":++4"#$(1:"*,"#'+"!.#+$7+/-(#+"6*.+#($)"P-2#+$;"/+&1$-3+/"-."
@'(4#+$"N;"8'-1';"2-:+"#'+"Q(&/(DqQlSf"!./+B"`+2(#-9+"S#$+.0#'"!./-1(#*$;"1(."
3+"+742*)+/"#*"&+4($(#+"-.9+&#7+.#"12-7(#+&"/%$-.0"8'-1'"&#*1:&"($+"7*&#"2-:+2)
#*"#'$-9+",$*7"-.9+&#7+.#"12-7(#+&"/%$-.0"8'-1'"&#*1:&"0+.+$(22)"&'*8"$+2(#-9+2)
&7(22"0(-.5"
J"S+(&*.(2"-.,2%+.1+&"(&"8+22"(&"1)12-1(2",*$1+&"G&++"@'(4#+$"LH"4$*9-/+"#'+-$"*8."
7($:+#"7**/"&%00+&#-*.&5"1 3/5&4,*"6 C'+"#'$++<7*.#'"4+$-*/"3+#8++."Q*9+7<
3+$"(./"_(.%($)"'(&"("&#$*.0"3-(&"#*"#'+"%4&-/+5"R1#*3+$"'-&#*$-1(22)"'(&"
3++."("7*.#'"#'(#"&++&"#'+"1*742+#-*."*,"7($:+#"/+12-.+&5
,/)',/$*-'B5)D2'Q15+`0$1/'5/)'L$*)85$"%'+%-'B5*)%&5/'">'5/)
.;**)%5'=%5)*9)-$+5)',*)%-'+%-',*6'5"'P*"U)85'5/)',$9)'+%-
P0+8)'">'5/)'E)Y5'=%5)*9)-$+5)X,)*9'N)#)*1+0'(*)+
i&+,%2"#**2&",*$"#'-&"4%$4*&+"-.12%/+"#'+&+=
J !"#$%&#'()*+,%-./ 6(-.#(-."8++:2)"(./"/(-2)"6?@A"1(21%2(#-*.&5">**:",*$"
#$+./&"-."6?@A;"4*&-#-9+"(./".+0(#-9+"/-9+$0+.1+&;"&2*4+&"*,"$-&+&"(./"/+12-.+&"
-."6?@A;"(./"4($#-1%2($2)"#$+./2-.+"3$+(:&"-."#'+"&2*4+&"*,"7*9-.0"(9+$(0+"
2-.+&5"S2*8"6?@A"-&"9+$)"%&+,%2"-."#'-&"$+0($/5"
J !01234%(1+,(4+%*,(5234%6'(33+78%&#'()*+,%9./ C'+&+"8*$:"8+22"-."1*.E%.1#-*."
8-#'"6?@A"(./"(2&*"*."#'+-$"*8.",*$"-.#+$7+/-(#+"#$+./"(&"8+22"(&"&'*$#+$<#+$7"
(./"2*.0+$<#+$7"#$+./"(.(2)&-&5"
J :(*+%0;%6'(34+%23526(*0,8/ C+.</()"$(#+"*,"1'(.0+"7+(&%$+7+.#&;"NO</()"$(#+"*,"
1'(.0+"7+(&%$+7+.#&;"(./"*#'+$&"G&++"@'(4#+$"bH"4$*9-/+"4+$&4+1#-9+"*."
8'+#'+$"#$+./&"($+"0(-.-.0"*$"2*&-.0"7*7+.#%75">**:",*$"4*&-#-9+"(./".+0(#-9+"
/-9+$0+.1+&"3+#8++."7($:+#"7*7+.#%7"(./"4$-1+",*$"+($2)".*#-1+"*,"&#*1:"
7($:+#"$+9+$&(25"
J !(,<+*%=,+(5*'%23526(*0,8/ ?/9(.1+</+12-.+"2-.+&"*,"7(E*$"+B1'(.0+&;"(&"8+22"(&"
#'+".%73+$&"*,"-&&%+&"$-&-.0"#*".+8"'-0'&"*$",(22-.0"#*".+8"2*8&"G&++"@'(4#+$"\H;"
&'*%2/"3+",*22*8+/",*$"-./-1(#-*.&"*,"#'+"&#$+.0#'"*,"3$+(/#'"/%$-.0"7($:+#"
(/9(.1+&"(./"/+12-.+&5"!#"-&"%.%&%(2",*$"#'+"&#*1:"7($:+#"#*"%./+$0*"&-0.-,-1(.#"
/+12-.+"/%$-.0"4+$-*/&"*,"&#$*.0"(./"-74$*9-.0"3$+(/#'5">**:",*$"-74$*9+7+.#&"
-.".+8"'-0'q2*8"$+2(#-*.&'-4&"(&"("4$+1%$&*$"#*"#'+"1*742+#-*."*,"7($:+#"/+<
12-.+&;"#*"&2-44(0+"-."#'+&+"($+(&"(&"(."+($2)"8($.-.0"*,"7($:+#"/+12-.+"#*",*22*85"
C*"4$*E+1#"2-:+2)"#-7+",$(7+&"(./"2*1(#-*.&"*,"#%$.-.0"4*-.#&;"%&+"#'+&+"#**2&=
J"!.#+$7+/-(#+<#+$7"#-7+"1)12+&"(./"C<,*$7(#-*.&"G&++"@'(4#+$"LH5
J"@'($#"4(##+$.&F?.02+"1'(.0+&;"$+9+$&(2",*$7(#-*.&;"8+/0+&;"#$+./2-.+"&%44*$#;"
(./"$+&-&#(.1+"($+(&"G&++"@'(4#+$"V;"n6*$+"C'(."_%&#"I$+##)"I-1#%$+&="I*8+$"C**2"
@'($#"I(##+$.&oH5
""" $%&'()&*+,-(*+./)/
J"S+(&*.(2"1*.&-/+$(#-*.&5
J"S+.#-7+.#"-./-1(#-*.&;"&%1'"(&"p!e"G&++"@'(4#+$"mH5
C'+&+"&4+1-(2"&#(#-&#-1(2"#-7-.0"7*/+2&"($+"%&+,%2",*$"-.#+$7+/-(#+"#$(/+$&=
J"C'+"C$-42+"6*7+.#%7"Q(&/(D"!./+B"C$(/-.0"6*/+2"G&++"@'(4#+$"VH"4$*9-/+&"
&#(#-&#-1(22)"/+$-9+/"3%)"(./"&+22"&-0.(2&"#'(#"1(."3+",*22*8+/"*."("4%$+2)"
*3E+1#-9+"3(&-&5"
J"C'+"6?@A"P-2#+$+/"^$+(/#'"!74%2&+"6*/+2"G&++"@'(4#+$"]H"+742*)&"("1*73-.(<
#-*."*,"#$+./&"-."6?@A"2+9+2&"(./"7+(&%$+7+.#&"#'(#"/+,-.+"%.%&%(22)"&#$*.0"
%4&-/+"3$+(/#'"-74%2&+&"#*"4$*/%1+"("4*8+$,%2"-.#+$7+/-(#+"#+$7"3%)q&+22"
-./-1(#*$5
J"C'+"[MZ]M"Q+8"c-0'ZQ+8">*8"!./-1(#*$"(./"#'+"K++:2)"!74%2&+"@*.#-.%(#-*."
S-0.(2"3*#'"-./-1(#+"4+$-*/&"*,"(3*9+"(9+$(0+"7($:+#"&#$+.0#'5"P*$"(&"2*.0"(&"
#'+&+"-./-1(#*$&"($+"#$(1:-.0"-.",(9*$(32+"#+$$-#*$);"#'+"&#*1:"7($:+#"-&"$(#+/"(#"
2+(&#"("'*2/5"GS++"@'(4#+$"\5H
,/)'M";*5/'B5)D2'M$%)X,;%)'4";*'=%5)*9)-$+5)X,)*9'B5;-$)1
:$5/'B5;-$)1'<+1)-'"%'B/"*5)*X,)*9'L+$06a"*'Q#)%
S";*06a!+*K)5'N)+-$%&1'
C'+",*22*8-.0"#**2&"(./"#(1#-1&"&'*%2/"'+24")*%"/+9+2*4"7*$+"4$+1-&+"+.#$-+&"(./
+B-#&;"+9+."-,")*%"($+"(."-.#+$7+/-(#+"#+$7"#$(/+$5"
J"@'+1:"*%#"/(-2)"(./q*$"'*%$2)"/(#(",*$"&'*$#<#+$7"7($:+#"#$+./&"(./"7*7+.<
#%75"6?@A;"$(#+&"*,"1'(.0+;"1'($#"4(##+$.&;"(./"&'*$#+$<#+$7"'*%$2)"(./q*$"
/(-2)"7($:+#"1)12+&"7-0'#"3+"%&+,%25
J"c+$+U&"("&4+1-(2"&'*$#"#+$7"3%)q&+22"#-7-.0"7*/+2="C'+"&'*$#<#+$7"9+$&-*."*,"#'+"
A(-2)"^(&+/"^$+(/#'"!74%2&+"S-0.(2"#$-00+$&"-.,$+D%+.#2)"3%#"9+$)"$+2-(32)"#*"
-./-1(#+"&'*$#+$<#+$7;"'-0'<7*7+.#%7"7($:+#"(/9(.1+&5"C'-&"-./-1(#*$"1(."3+"
+742*)+/"8-#'"6?@A"(&"("&+22",-2#+$;"-."8'-1'"1(&+"-#"1(."0$(/%(#+"-.#*"(",%22<
&1(2+"-.#+$7+/-(#+<#+$7"'*2/"-./-1(#*$5"GS++"@'(4#+$&"\"(./"]5H"
N)9)9`)*'A;*'M+#"*$5)'!;5;+0'M;%-'B)0)85$"%'B5*+5)&6b
R," 1*%$&+;" 7(.)" 7+(&%$+&" *," -.#$-.&-1" 9(2%+;" 1%$$+.#" 7*7+.#%7;" (./" *#'+$" #**2&
7-0'#" 0*" -.#*" #'+" &+2+1#-*." *," 9+'-12+&" -." 8'-1'" #*" -.9+&#;" 8'-1'" ($+" 3+)*./" #'+
&1*4+"*,"#'-&"&#%/)"*,"#**2&"*,"#+1'.-1(2"(.(2)&-&5
C'+"7+#'*/"*,"&+2+1#-.0"7%#%(2",%./&"3(&+/"*."$+2(#-9+"&#$+.0#'"G&++"@'(4#+$"O;
nC'+"Q*<P$-22&"!.9+&#7+.#"S#$(#+0)oH"-&"(7*.0"*%$",(9*$-#+"&#$(#+0-+&",*$"&+2+1#-.0
(./"$*#(#-.0")*%$"-.9+&#7+.#&5"C'-&"7+#'*/",+(#%$+&;"8-#'-."-#&"&#$%1#%$+;"1*.1+4#&
$+2(#+/"#*"$+2(#-9+"&#$+.0#'"(./"#'+"3+.+,-#&"*,"2*8+$"9*2(#-2-#)"(./"#$%+"9(2%+5"!#"-&
'-0'2)"$+1*77+./+/a
>?@@)(3,A@,-++,$13%@'%4B,C43*()D)(3,E1?4,0*4F%@,G@4*@%3)%/ ""7
@)11"%1'='S+#)'@)+*%)-'L;*$%&'cI'4)+*1'+1'+',*+-)*
C'+&+"($+"'($/2)"*$-0-.(2;"8'-1'"7(:+&"#'+7".*"2+&&"9(2-/5"?&")*%"7-0'#".*#-1+;
7(.);"-,".*#"7*&#;"($+"(&&*1-(#+/".*#"&*"7%1'"8-#'"#'+"&#*1:"7($:+#"(&"8-#'"*%$
*8."(##-#%/+&"(&"#$(/+$&5"i.,*$#%.(#+2);"7*&#"-.9+&#*$&"4()",*$"8'(#"#'+)"2+($.
*9+$"#'+")+($&"-."&*7+"8()5"!"'(9+"1+$#(-.2)"4(-/"-."3(/"+B4+$-+.1+&",*$"7%1'"*,
8'(#"!"'(9+"2+($.+/5"6()3+")*%"1(."&(9+")*%$&+2,"&*7+"7*.+)"3)"1*.&-/+$-.0
#'+"4$-1+"*,"#'-&"3**:")*%$"4()7+.#"(./"0*"/-$+1#2)"*.",$*7"#'+$+5"c+$+"#'+)"($+;
-.".*"4($#-1%2($"*$/+$=
J"C'+".+8&"7+/-(;"-.12%/-.0"#'+"&#*1:"7($:+#"Cp"1'(..+2&;"#+./"#*"3+"#'+"2(&#"
#*":.*8"(./"(27*&#"(28()&"#+./"#*",*22*8"&#*1:"7($:+#"#$+./&"$(#'+$"#'(."#*"
2+(/"#'+75"?&"("0+.+$(2"$%2+;"("0**/"#-7+"#*"3%)"&#*1:&"-&"8'+."#'+"4*4%2($"
7(0(g-.+&"(./",$*.#"4(0+&"*,"7(E*$".+8&4(4+$&"($+",+(#%$-.0"&#*$-+&"/+(2-.0"
8-#'"3+($"7($:+#&"(./"-.9+&#*$"/**75"!."("&-7-2($"9+-.;"&#*1:"7($:+#".+8&2+#<
#+$&"(./"(/9-&*$)"&+$9-1+&"'(9+".*#"'(/"#'+"9+$)"3+&#"*,"$+1*$/&"-."#+$7&"*,"
7($:+#",*$+1(&#-.05"C'+"0$+(#+$"n0%$%&o"'(9+"*,#+."#+./+/".*#"#*"3+"7*$+"
1*$$+1#"#'(."*#'+$&5
J"C'+$+"7-0'#"3+"7(.)"3+.+,-#&"-."(##+./-.0"2+1#%$+&;"7++#-.0&;"(./"#+1'.-1(2"
12(&&+&"$+0($/-.0"#$(/-.0"#(1#-1&"(./"-.9+&#-.0;"3%#"-#"-&"4$*3(32)"3+&#"#*"*4+$<
(#+"(2*.+"-."7(:-.0"(./"-742+7+.#-.0"(1#%(2"#$(/-.0"/+1-&-*.&"(./"#*"(&&%7+;
8-#'-.")*%$&+2,;"#'+"$+&4*.&-3-2-#-+&"*,"4**$"#$(/+&"(./"#'+"1$+/-#",*$"0**/"
*.+&5
J"S-7-2($2);"-#"-&"3+&#"#*":++4")*%$"$+&%2#&"(./"4+$,*$7(.1+"4$-9(#+5"C'+"#+74#(<
#-*."#*"3*(&#"*,")*%$"&%11+&&+&"(./",+($&"*,"$+4*$#-.0",(-2%$+&"8-22"(27*&#"
1+$#(-.2)".*#"'+24")*%$"4+$,*$7(.1+5
J"c%7(.".(#%$+"*4+$(#+&"(0(-.&#"0**/"#$(/-.0"4$(1#-1+&5"K+"+.E*)"#(:-.0"4$*,-#&
(./"'(#+"#(:-.0"2*&&+&5"?&"("$+&%2#;"#$(/+$&"*,#+."#+./"#*"12*&+"*%#"#'+-$"&#$*.<
0+&#"4*&-#-*.&"#**"+($2)"G2*1:-.0"%4"#'+"4$*,-#H"(./"7(-.#(-."#'+-$"8+(:+&#"
4*&-#-*.&",*$"#**"2*.0"Gn.*#"("2*&&"%.#-2"!"#(:+"-#oH"-.&#+(/"*,"2+##-.0"#'+-$"&#$*.<
0+&#"4*&-#-*.&"$%."(./"12*&-.0"*%#"#'+-$"8+(:+&#"8-#'"&7(22"2*&&+&5
j++4"-."7-./"#'(#"+9+."#'+"3+&#"#-7-.0"7*/+2&"#+./"#*"3+"4$*,-#(32+"*.2)"("
1+$#(-."4+$1+.#(0+"*,"#'+"#-7+;"3%#"#'+-$"8-..-.0"#$(/+&"($+"7%1'"2($0+$;"*."
(9+$(0+;"#'(."#'+-$"2*&-.0"#$(/+&5"
J"C'+".(7+"*,"#'+"0(7+"-&"#*"7(:+"("0**/"G3%#".*#"%.$+(&*.(32)"0**/H"$+#%$."
,*$")*%$"#-7+"(./"1(4-#(2;".*#"#*",++2"n&7($#5o"!":.*8"7(.);"7(.)"4+*42+"8'*"
*9+$+B#+./+/"#'+-$"8+21*7+"-."#'+"&#*1:"7($:+#"(&"O[[["7*9+/"-.#*"NMMM;".*#"
3+1(%&+"#'+)",(-2+/"#*"$+1*0.-g+"#'+"/(.0+$&"*,"#'+"&#*1:"7($:+#;"3%#"3+1(%&+"
#'+)"8+$+"'(9-.0"&%1'"("0**/"#-7+",++2-.0"&7($#"/%$-.0"#'+"3%22"7($:+#"#'(#"
#'+)"'(#+/"#*"2+(9+"#'+"4($#)5"
J"A*.U#"1*.,%&+"$-&-.0"&#*1:"4$-1+&"8-#'"3+-.0"(",-.(.1-(2"0+.-%&5
""8 $%&'()&*+,-(*+./)/
J"P*$"7*&#"4+*42+;"-.<(./<*%#"#$(/-.0"8-22".*#"3+"(&"4$*,-#(32+"(&"8+22<1*.&-/+$+/"
-.#+$7+/-(#+<#+$7"#$(/-.05"!#"-&".*#"+(&)"#*"*9+$1*7+"#'+"(//-#-*.(2" 1*&#&"-."
#$(.&(1#-*."+B4+.&+&"(./"3-/<(&:"&4$+(/&"-.9*29+/"-."/()"#$(/-.0"(./"9+$)"
&'*$#<#+$7"#$(/-.0;"(2#'*%0'"#'+$+"($+;".*"/*%3#;"&%11+&&,%2"#$(/+$&"-."#'-&"$+0($/5
J"!#"-&"3+##+$"#*"7-&&"("4$*,-#"#'(."#*"#(:+"("2*&&5"h*"3(1:"#*"@'(4#+$"O"$+0($/-.0"#'-&
&%3E+1#5
J"P*$"#'+"7*&#"4($#;"-#"-&"4$*3(32)"3+&#".*#"#*"*4+$(#+"(#"#'+"7($:+#"*4+.-.05"C'+$+"
($+"4(%&+&"/%$-.0"#'+"/();"%&%(22)"(#"($*%./"OM=bM"(575"f(&#+$."#-7+"(./"($*%./"
O=OL"#*"O=bM"4575;"8'+."#'+"&#*1:"7($:+#"-&"D%-+#+$"(./"8'+.")*%"1(."(1#"8-#'"
$+2(#-9+"1(275
J"A*".*#"+.#+$"-.#*"(."-.9+&#+/"4*&-#-*."8-#'*%#"(."+B-#"42(.5
J"!#"-&"7%1'"3+##+$"#*"#$(/+"8-#'".*"7*$+"1(4-#(2"#'(.")*%"1(."1*7,*$#(32)"$-&:5"
J"R.+"&%11+&&,%2"#$(/+"7(:+&"%&",++2"0**/5"C8*"&%11+&&,%2"#$(/+&"-."("$*8"7(:+"%&
,++2"4$+##)"&7($#5"C'$++"1*.&+1%#-9+"&%11+&&,%2"#$(/+&"7(:+&"%&",++2"2-:+"("0+.-%&5"
C'(#U&"8'+."#'+)"0+#"%&5555
J"6(:+".*#+"*,")*%$"2*&-.0"#$(.&(1#-*.&5"c(9+")*%"9-*2(#+/"&*7+"3(&-1"$%2+&"*,"
#$(/-.0"*$"-.9+&#-.0"3+1(%&+"*,"&*7+"+7*#-*.(2"$+(&*.k"C'+$+"8-22"3+"2*&&+&5"
Q*#"+9+$)"2*&-.0"#$(/+"-&"("7-&#(:+5"C'+"&#*1:"7($:+#;"(#"3+&#;"-&"("0(7+"*,"
4$*3(3-2-#-+&5"
J"P-.(22);"8+"'(9+"$+9-+8+/"-."#'-&"3**:"7(.)"#+1'.-D%+&"(./"#**2&"#'(#"($+"
/+&-0.+/"#*"'+24")*%"-/+.#-,)"7($:+#"1*./-#-*.&"#'(#"7*&#",(9*$"4$*,-#(32+"
-.9+&#-.05"C'+$+"-&".*".++/"#*"3+"-.9+&#+/"-."#'+"&#*1:"7($:+#"(#"(22"#-7+&5"!,"7(#<
#+$&"(44+($"%.12+($"*$"-,")*%"($+"2+&&"1+$#(-."#'(."%&%(2"G#'+$+U&".*"&%1'"#'-.0"(&"
1+$#(-.#)"$+0($/-.0"&#*1:&H;"3+",$++"#*"&-742)"&#(./"(&-/+"%.#-2"7(##+$&"12($-,)5
N)8"99)%-)-'N)+-$%&'+%-'N)1";*8)1
C'+" ,*22*8-.0" -&" 3)" .*" 7+(.&" (." (22<-.12%&-9+" 2-&#" *," %&+,%2" 2-#+$(#%$+;" 3%#" -#" /*+&
-.12%/+"7(.)"*,"7)",(9*$-#+"$+&*%$1+&5"
./+*5$%&'N)1";*8)1'
!+*(8*06</%>?@28%A3*+,3(*203(7B%9C%D0@*'%ECC%F+8*B%D@2*+%GHCB%D(7*%I(<+
#2*JB%KLB%-EMCM%&!""#$%%&&&'()*+,'-./.N
C'-&"#+1'.-1(2"1'($#-.0"&+$9-1+"4$*9-/+&"'-&#*$-1(2"/(#("#'(#")*%"1(."/*8.2*(/;"(&
8+22"(&"#'+"1(4(1-#)"#*"1$+(#+"2*.0+$<"(./"&'*$#+$<#+$7"1'($#&"#'(#"-.12%/+"4$-1+"2+9<
+2&"(&"8+22"(&"9($-*%&"-./-1(#*$&"(./"1)12-1(2"/(#(5"C'+"7(E*$-#)"*,"1'($#&"-."#'-&"8*$:
8+$+"1$+(#+/"8-#'"#'-&"4$*0$(75"
>?@@)(3,A@,-++,$13%@'%4B,C43*()D)(3,E1?4,0*4F%@,G@4*@%3)%/ ""9
L,(5+D*(*203/%L,(5+D*(*203%D+6@,2*2+8B%A36NB%L,(5+D*(*203%O@275234B%
-CPC%DF%MC*'%D*,++*B%D@2*+%HCCCB%Q7(3*(*203B%RIB%SSSHE
&!""#$%%&&&'0123(,"2"+.45.163'-./.N
C'-&"$+(2<#-7+"*.2-.+"D%*#(#-*."&+$9-1+"4$*9-/+/"3)"("3$*:+$(0+",-$7"1(."3+
+742*)+/"#*"#$(1:"#'+"7*9+7+.#"*,"#'+"&#*1:"7($:+#"(./"-./-9-/%(2"&+1%$-#-+&
/%$-.0"#'+"/()5"C'+"4$*0$(7"(2&*"4$*9-/+&"'-&#*$-1(2"/(#("(&",($"3(1:"(&"O[]O;
(2*.0"8-#'"#'+"1(4(1-#)"#*"1'($#"(./"#*"1*./%1#"$+&+($1'"9-("("3%-2#<-."4$*0$(7
(./"2(.0%(0+",(1-2-#)5"l*%"1(.",-./"1'($#&"(#"("$+2(#-9+2)"2*8"4$-1+;"1*74($+/"#*
7(.)"&%1'"&+$9-1+&5"`(#+&"($+"$+/%1+/",%$#'+$"-,")*%"3+1*7+"("12-+.#"*,"#'+"
3$*:+$(0+",-$75"
B";*8)1'>"*'N)1)+*8/'
7.1/*6289(,(21-!B%=J%T+7803%RN%R,++=@,4B%>52*0,B%EGEG%Q0)7(,%"1+3@+B
D@2*+%ECMB%!+U)'28B%LTB%S-MMV%&MW-CCXVHCX-GCV.N
C'-&"-&"("'-0'2)"$+0($/+/"&*%$1+"*,"$+&+($1'"(./"&%00+&#+/"#-7-.0"7*/+2&"$+2(#<
-.0"#*"#'+"&#*1:;"3*./;"(./"*#'+$"7($:+#&5"`+&+($1'"&#%/-+&;"%&%(22)"3(&+/"%4*.
&#(#-&#-1(2"&#%/-+&"*,"2*.0<#+$7"7($:+#"'-&#*$);"($+"*3E+1#-9+"(./"$+(&*.(32+"-."#'+-$
4$*7-&+"(./"/+&1$-4#-*.5"C'+"7(#'+7(#-1(2"3(&+&"$+D%-$+"&*7+"&#(#-&#-1(2"&(99);
3%#".*#"7*$+"#'(."-&"$+D%-$+/"-."#'-&"3**:5"!#"-&"%.2-:+2)"#'(#")*%"8-22",-./"0+#<$-1'
&1'+7+&F#'+"+/-#*$&"($+"#**"$+(2-&#-1",*$"#'(#F3%#")*%"8-22"2+($."#'-.0&"(3*%#
&#*1:"7($:+#"3+'(9-*$"-."0+.+$(2;"-."(//-#-*."#*"&4+1-,-1"#-7-.0"7*/+2&5"
0(-!4+-268:426;,+,8.<8=".->,8?8@.//.3+"+(,B%EVPV%#(72;0,32(%"1+N%DNFNB
D+(**7+B%F"B%9-MMG%&!""#$%%&&&'"123(1,'-./.N
C'-&"7*.#'2)"4%32-1(#-*."4%32-&'+&"*,#+."'-0'2)"&*4'-&#-1(#+/"($#-12+&"$+2(#-.0
#*"&#*1:"(./"1*77*/-#)"7($:+#"1'($#-.0;"$+&+($1';"#$(/-.0"&#$(#+0-+&;"7*.+)"7(.<
(0+7+.#;"(./"*#'+$"#*4-1&5"?$#-12+&"*,#+."$+D%-$+",(7-2-($-#)"8-#'"(/9(.1+/"7(#'+<
7(#-1(2"1*.1+4#&"(./"1*74%#+$"4$*0$(77-.05"!#U&"(",(9*$-#+"(7*.0"$+&+($1'<*$-<
+.#+/"#+1'.-1-(.&;"8-#'"-.#+$+&#-.0"1*.1+4#&"+9+.",*$"$+2(#-9+2)"-.+B4+$-+.1+/"#+1'<
.-1(2"(.(2)&#&5"
<""K1'N)0+5$%&'5"',)8/%$8+0'(%+061$1'
0123+4A8<.1828B+C+4AB%=J%$,N%"7+Y(35+,%>75+,%&Z0'3%F27+J%[%D038B%M99S.N%
C'-&"-&"(",-.+"0+.+$(2"-.#$*/%1#-*."#*"#+1'.-1(2"(.(2)&-&;"#'+"4&)1'*2*0)"*,
-.9+&#-.0;"(./"7*.+)"7(.(0+7+.#"3)"A$5"?2+B(./+$"f2/+$;"("8+22<:.*8."+/%1(#*$
*."7(##+$&"-.9*29-.0"#$(/-.0"(./"("4&)1'-(#$-&#5"?2&*"$+1*77+./+/"3)"#'+"&(7+
(%#'*$"-&"%&7"$,'*&$82$-4/9,':$;&&7 GNMMNH;"("7*$+"/+#(-2+/"8*$:"*."#'+"&(7+
&%3E+1#&;"(2&*"4%32-&'+/"3)"K-2+)5"A$5"f2/+$"4$*9-/+&"+/%1(#-*.(2"4$*0$(7&"-.
&#*1:"7($:+#"#$(/-.0"(#"&4+1-(2"-.9+&#*$"&+7-.($&5"P%$#'+$"-.,*$7(#-*."7()"3+
&+1%$+/"(#"###<"09"4<(&75
"": $%&'()&*+,-(*+./)/
D.66+4A(18.48D.66+4A(18D243,B%=J%Z0'3%O077234+,%&!6\,(]W^277B%HCCH.N%
C'-&"-&"_*'."^*22-.0+$U&"/+,-.-#-9+"3**:"*."#'+"1$+(#-*."(./"%&+"*,"7*9-.0
(9+$(0+"#$(/-.0"3(./&"#'(#"($+"(/E%&#+/",*$"7($:+#"9*2(#-2-#)5"!#"-.12%/+&"7(.)
&%00+&#-*.&"*."#'+"%&+"*,"#$(/-.0"3(./&"(./"(."+/%1(#-*."-.#*"#+1'.-1(2"(.(2)&-&
-."0+.+$(25"C'-&"3**:"-&"(",-.+"&%442+7+.#"#*"@'(4#+$"["*,"#'-&"3**:;"8'-1'"/-&<
1%&&+&"7*9-.0"(9+$(0+"#$(/-.0"1'(..+2&5
0!(8=".->80123(1E,8:6/242-B%=J%*'+%^2,86'%_,4(32`(*203%&F27+J%[%#0NB
HCCP.N
?."(..%(2"4%32-1(#-*."&-.1+"O[\\;"*$-0-.(22)"+/-#+/"3)"l(2+"c-$&1'"(./".*8"3)
_+,,$+)"c-$&1'5"P*$7+$2)"/-&#$-3%#+/"3)"#'+"c-$&1'"R$0(.-g(#-*.;"-#"-&".*8"4%3<
2-&'+/"3)"K-2+)"T"@*5"C'-&"-&"#'+"%2#-7(#+"&+(&*.(2"4%32-1(#-*.;"8-#'"($#-12+&
$+0($/-.0"&#*1:"7($:+#"-.9+&#7+.#"-."0+.+$(2"(./"&+(&*.(2"-.,2%+.1+&"%4*."#'+
&#*1:"7($:+#"-."4($#-1%2($5"l(2+"c-$&1'"'(&"3++."("8+22<:.*8."4-*.++$"-."&+(&*.(2
-.9+&#-.05"C'+"?27(.(1"1*.#(-.&"+B1+22+.#"'-&#*$-1(2"/(#("(2*.0"8-#'"$+4*$#&
$+0($/-.0"1'(.0+&"-."&+(&*.(2"-.,2%+.1+&"(./"#$+./&5"
=%#)159)%5'E):10)55)*1'
F.B.2387*43GHB%HSP%!03*40U+,J%D*NB%D@2*+%MCE9B%D(3%R,(362860B%#"B
9EMCE%&!""#$%%&&&'<*43I'-./.N
C'-&"-.9+&#7+.#".+8&2+##+$"7(-.#(-.&"(./"$+1*77+./&"7%#%(2",%./"4*$#,*2-*&
#'(#",-#"&#$(#+0-+&"/-&1%&&+/"-."@'(4#+$"O"$+2(#+/"#*"#'+"7(-.#+.(.1+"*,"7%#%(2",%./
4*$#,*2-*&"*."#'+"3(&-&"*,"$+2(#-9+"&#$+.0#'5"C'+"c%23+$#"P-.(.1-(2"A-0+&#"'(&
(8($/+/"'-0'"7($:&"#*"#'-&".+8&2+##+$",*$"-#&"4+$,*$7(.1+"*9+$"#'+")+($&5
0!(8J26*(8B+4(8K4C(,"/(4"8=*1C(;B%HHC%>N%EH35%D*NB%T+]%a0,<B%TaB%MCCMV
&!""#$%%&&&'C26*(6+4('-./.N
C'-&"9+.+$(32+".+8&2+##+$"'(&"&+1%$+/"(3*9+<(9+$(0+"4+$,*$7(.1+"*9+$"#'+
/+1(/+&"8-#'"4*$#,*2-*&"*,"&+2+1#-*.&",$*7"7*$+"#'(."O;mMM"7*.-#*$+/"&#*1:&
$(.:+/",*$"#-7+2-.+&&"(./"&(,+#)5"!#"-&"&%-#+/"7*$+",*$"-.9+&#*$&"#'(."&'*$#<#+$7
#$(/+$&5"P*$"3+&#"$+&%2#&;"&%,,-1-+.#"(&&+#&"($+"$+D%-$+/"#*"&%44*$#"("/-9+$&-,-+/"4*$#<
,*2-*5"C'+"4+$,*$7(.1+"*,"#'-&"$+4*$#"'(&"3++."7*.-#*$+/"3)"#'+"c%23+$#"P-.(.1-(2
A-0+&#;"8'-1'"'(&"$(#+/"#'+".+8&2+##+$"'-0'2)5"
0!(8@!21"+,"B%QN_N%O0Y%VP-B%D+(7%O+(6'B%#"B%9CVECN
!."4%32-1(#-*."&-.1+"O[\[;"-."$%./4*,+*;"+/-#+/"3)"A(."S%22-9(.;"'(&"3++.
(7*.0"#'+"2*.0+&#<2(&#-.0"-.9+&#*$".+8&2+##+$&;"E*-.+/"3)"-."$%./4*,+*$8=*=/0
>='9$?"**"4;"&-.1+"O[]]5"-." %./4*,+* -&"("#+1'.-1(22)"*$-+.#+/".+8&2+##+$"8-#'"(
7(E*$",*1%&"*."-.#+$7+/-(#+"7($:+#"#$+./&"(./"$+2(#-9+2)"-.,$+D%+.#"#$(/-.05
I*$#,*2-*&"$+1*77+./+/"-."#'+".+8&2+##+$"($+"7(-.#(-.+/"3)"#'+"+/-#*$&"-."$+(2
#-7+"8-#'"$+(2"1(4-#(25"
>?@@)(3,A@,-++,$13%@'%4B,C43*()D)(3,E1?4,0*4F%@,G@4*@%3)%/ "";
F(3 L2C+,89(,(21-!8K4C(,"/(4"8="12"(A;B%HMCC%:21+,>54+%Q(,<](JB%D@2*+
VPCB%"*7(3*(B%\"B%SCSH-%&&&&'431'-./.N
? '-0'2)"$+0($/+/"4%32-1(#-*.;"8-/+2)"+742*)+/"3)"-.&#-#%#-*.(2"4*$#,*2-*"(./
7*.+)"7(.(0+$&5"!.12%/+&"("9($-+#)"*,"4$-.#+/"(./"*.2-.+"$+4*$#&"-.12%/-.0"+1*<
.*7-1"/(#(;"#+1'.-1(2"-./-1(#*$&;"#-7-.0"7*/+2&;"-./%&#$);"-./-9-/%(2"&#*1:"(.(2)&-&
(./"7($:+#"*%#2**:&"(./"7*$+5"I+$-*/-1"1*.,+$+.1+"1(22&"#*"&%3&1$-3+$&"&%442+<
7+.#"#'+"4%32-1(#-*.5
R.+",-.(2"8*$/=
l*%"'(9+"2+($.+/"8'(#"!"3+2-+9+")*%"8-22",-./"#*"3+"(".%73+$"*,"%&+,%2"4$(1#-1(2
4*8+$"#**2&5"!,")*%"'(9+"0*##+."#'-&",($"(2*.0;"!"3+2-+9+"#'(#")*%"'(9+"#'+"8-225"C'+$+
8-22"3+"8-..+$&5"?./"#'+$+"8-22"3+"2*&+$&5"c*4+",*$"#'+"*.+;"3%#"/*"+B4+1#"#'+"*#'+$5
j++4"(#"-#5"K-#'"7)"9+$)"3+&#",*$"0**/"#$(/-.05555
\+,(75%"))+7
!"#$%
"#$%&'( 2*.0<#+$7"NMM</();"VL
7($:+#"1)12+;"V[<LN
OM</()"$(#+"*,"1'(.0+;"QlSf"!./+B 7)#'&;"V]<V[
(/9(.1+</+12-.+"2-.+;"Obb<ObV 9+$)"2*.0<#+$7;"Vm<V]
O]<7*.#'"7($:+#"1)12+&;"OMV 8++:2)<3(&+/"2*.0+$<#+$7;"V\<Vm
NO</()"$(#+"*,"1'(.0+;"QlSf"!./+B
(/9(.1+</+12-.+"2-.+;"ObM<ObN !
LM</()"$(#+"*,"1'(.0+"-./-1(#*$;"OML<OM\
3(./"1'(..+2&;"NOm
Lb</()"7($:+#"1)12+;"[L<[m
!"##$%&'( bO;"OV]
[MZ]M"Q+8"c-0'ZQ+8">*8"!./-1(#*$;"NNN
3+($"7($:+#&
NMM</()"7*9-.0"(9+$(0+&;"VL
7($:+#"1)12+"&+07+.#(#-*.;"[]<[[
) 4$+<3+($"7($:+#"1*74($-&*.&;"ONm
$(#+"*,"1'(.0+"4(##+$.&;"LL<L\
?<A"2-.+&5"/,, (/9(.1+</+12-.+"2-.+& $+1*0.-g-.0"-.#+$7+/-(#+"/+12-.+&;"OV]
(/9(.1+</+12-.+"2-.+&"G7($:+#"3$+(/#' 3+&#"7*.#'&"*,"#'+")+($"G#-7+<1)12+"
7+(&%$+7+.#H;"OO[ 4(##+$.&H;"[M
Q(&/(D"@*74*&-#+"!./+B;"ON] 3+&#"&-B<7*.#'"4+$-*/"G#-7+<1)12+"
QlSf"!./+B;"ONm<ON] 4(##+$.&H;"[N
OM</()"$(#+"*,"1'(.0+;"Obb<ObV ^2(1:<S1'*2+&",*$7%2(;"OLV
NO</()"$(#+"*,"1'(.0+;"ObM<ObN !$))*%+,#-$%-!$))*%+,#-!"%.' G^*22-.0+$H;"NN\
NMMN<NMMV;"ON[ ^*22-.0+$;"_*'.;"NN\
(.02+"1'(.0+&;"&#*1:"7($:+#"1'($#&;"\m<\[ ^$+(/#'"C'$%&#"7*/+2;"O[\<O[]
01,-2#3'-4%.,5-60#*%-4%.,578-2%-4%9#$.:;9*$% 3%)"&-0.(2&;"O[m
9$-<$):3,-2%")='*' G?$7&H;"OV] 1*./-#-*.&;"O[m<O[]
?$7&"!./+B5"/,, C`!Q"!./+B Q(&/(D"@*74*&-#+"!./+B;"O[]
?$7&;"`-1'($/"K5;"_$5;"OV] &+22"&-0.(2&;"O[m
(9+$(0+&;"7*9-.0"(9+$(0+&;"Vb 3%22"7($:+#&
+B4*.+.#-(2"7*9-.0"(9+$(0+& 3$+(/#'"4(##+$.&;"ObN
&+1%$-.0"(9+$(0+&;"Ob\ 6?@A"4+$,*$7(.1+"O[]N<NMMM;"O]\<O]m
&7**#'-.0"1*.&#(.#&;"ObV<ObL 7($:+#"1)12+"&+07+.#(#-*.;"[]<[[
&4+1-(2"D%(2-#-+&;"Ob\<Obm $(#+"*,"1'(.0+"4(##+$.&;"LL<L\
-.#+$7+/-(#+<#+$7;"VL p!e"Gp*2(#-2-#)"!./+BH;"OL\
"7# A(5%H
3%)"&-0.(2& '+(/"(./"&'*%2/+$",*$7(#-*.&;"mN
,(2&+"3$+(:*%#&q3$+(:/*8.&"G&#*1:" 1*.,-$7(#-*."3)"7+(&%$+&"*,"7($:+#
7($:+#"1'($#&H;"]\ 7*7+.#%7;"mL
6?@A"G6*9-.0"?9+$(0+" +&#(32-&'-.0"/*8.&-/+"4$-1+"*3E+1#-9+&;
@*.9+$0+.1+<A-9+$0+.1+H mb<mL
/-9+$0+.1+<1*.,-$7+/"&-0.(2&;"OmO<Omb &+22-.0"12-7(B;"m\
-74$*9-.0"&-0.(2&"3)"%&-.0"6?@A 9*2%7+"&4-:+&;"m\
1*73-.(#-*.&;"OmV<OmL 7(E*$<#+$7"(.02+"1'(.0+&;"]M
7($:+#"/*8.#$+./&;"Om\<Omm 7($:+#"/*8.#$+./&;"]M
7($:+#"%4#$+./&;"OmL<Om\ Q(&/(D"@*74*&-#+"&(742+;"m[<]M
$(#-*.(2+;"OmM $+&-&#(.1+"g*.+&;"m[
$%2+&"(./"4$*1+/%$+&;"Omm<Om[;"O[L &%44*$#"g*.+&;"mm<m]
&#*4<2*&&"&-0.(2&;"O]M<O]O &).+$0-&#-1"1'($#"4(##+$.&;"mO
6(E*$"`+9+$&(2"p*2(#-2-#)"6*/+2;"OLm<O\b #$+./2-.+&;"]O<]V
K++:2)"!74%2&+"S-0.(2;"Ob[<OVM 8+/0+",*$7(#-*.;"\[<mO
3%)<(./<'*2/"&#$(#+0)"9+$&%&"$+2(#-9+ 12-7(#+&",*$"-.9+&#7+.#&;"-/+.#-,-1(#-*.;"
&#$+.0#'"-.9+&#-.0;"Om;"NO<NN Nm<N]
3%)q'*2/"4($(7+#+$&;"ONV<ON\ 1*73-.-.0"7*.+#($)"(./"$+2(#-9+
&#$+.0#'"-./-1(#*$&;"VM<VN
* 6*.+#($)"6*/+2;"bL<VM
1(21%2(#-*.& $+2(#-9+"&#$+.0#'"-./-1(#*$&;"N]<bV
6(E*$"`+9+$&(2"p*2(#-2-#)"6*/+2;"OLm 1*73-.(#-*.&"G6?@AH;"-74$*9-.0"3%)q&+22
6*.+#($)"6*/+2"-./-1(#*$;"bm<VM &-0.(2&;"OmV<OmL
C`!Q"!./+B;"OV[<OLM 1*.,-0%$(#-*.&;"6?@A"-./-1(#*$;"O]L
K++:2)"!74%2&+"S-0.(2;"Ob[ 1*.,-$7(#-*.
1(2+./($<3(&+/"1)12+&;"OOL -./-1(#*$&
3+&#"(./"8*$&#"7*.#'&"*,"#'+")+($;"[M 6?@A"G6*9-.0"?9+$(0+"
3+&#"&-B<7*.#'"4+$-*/;"[N @*.9+$0+.1+<A-9+$0+.1+H;"
/()&"*,"#'+"7*.#';"[M O]O<O]b
4+$,*$7(.1+"+9(2%(#-*.;"[N<[b $(#+"*,"1'(.0+;"OMV<OM\
4$+<'*2-/()"4(##+$.&;"[M `S!"G`+2(#-9+"S#$+.0#'"!./+BH;"OMO<OMb
8*$&#"&-B<7*.#'"4+$-*/;"[N 4$-1+"#$+./&;"ONM
1(4-#(2"4$+&+$9(#-*.;"ON 1*.&#$%1#-*.
1+.#+$"2-.+;"7*9-.0"(9+$(0+"#$(/-.0" A(-2)"^(&+/"^$+(/#'"!74%2&+"S-0.(2;"
1'(..+2&;"NMm OVb<OVV
1'(..+2"&%44*$#"(./"$+&-&#(.1+;"]b<]V 6?@A"G6*9-.0"?9+$(0+"
1'($#-.0"$+&*%$1+&;"NNV @*.9+$0+.1+<A-9+$0+.1+H;"O\\<O\m
01,->1"#9*'9 G.+8&2+##+$H;"NN\ C<,*$7(#-*.&;"OM]<OOM
1'($#&"G&#*1:"7($:+#H 1%7%2(#-9+"2-.+&"G7($:+#"3$+(/#'"
(.02+"1'(.0+&;"\m<\[ 7+(&%$+7+.#H;"OO[
,(2&+"3$+(:*%#&"(./"3$+(:/*8.&;"]L<]\ Q(&/(D"@*74*&-#+"!./+B;"ON]
QlSf"!./+B;"ONm<ObV
!"#$% &'(
!"!#$!%#&'()!*+ -$N*)6*,!*.!(,'$):*-&+$6,%#+&QDEFGR0&
!%#*,-%)./%+*-&!"!#*+0&12.130&445 4>4.4>3
#*,678+0&11 G(<&I,-?+7)$%#+0&449
49.:(,78&!"!#*+0&42; !"#$%"&'($)*(+&'(($,&-$.+&,&/+,0$1''2034 49
-%"&7)%-$,6&<$78&+8()7.7*):&!"!#*+0 -(<,+$-*&A)(S*!7$(,+0&+7(!@&:%)@*7&!8%)7+0
42=.42> >3.>;
'(?)."*%)&:%)@*7&!"!#*+0&422.424 -(<,7)*,-+&Q:%)@*7&-(<,7)*,-+R0&92
$,7*):*-$%7*&!"!#*+&<$78&!(,'$):$,6 DEFG0&4>=.4>>
$,-$!%7()+0&424.423 :(N$,6&%N*)%6*&7)%-$,6&!8%,,*#+0&C25
A)*+$-*,7$%#&+7(!@&:%)@*7&!"!#*+0&13.1; -)%<-(<,
+*6:*,7%7$(,0&1>.11 A*)'():%,!*&+$:$#%)$7$*+&/*7<**,&KTJU
B.'():%7$(,+0&42> I,-*M&%,-&JVW0&3;
!(,+7)?!7$(,0&429.442 )$+@X)*<%)-&!(:A%)$+(,+&/*7<**,&
#(,6.7*):&!"!#*+0&443 :?7?%#&'?,-&A()7'(#$(+0&45.4=
:$))()&A%77*),+0&444.44C
+?AA#*:*,7%#&$,-$!%7()+0&44; "
+",*)6"0&442.444 U#-*)0&G)Y&E#*M%,-*)0&56,-+&7$8"6$,$
7$:*.!"!#*&A%77*),+0&15.1>0&445 9+:+&74 CC5
!"!#$!%#&+7?-$*+0&!(,'$):$,6&DEFG&+$6,%#+0 UBZ+&Q*M!8%,6*&7)%-*-&'?,-+R0&45
49C.493 [[[+0&45
)*#%7$N*&+7)*,678&)*/%#%,!$,60&C2
! JVTGOJ0&45
G%$#"&H%+*-&H)*%-78&I:A?#+*&J$6,%#0&4;C *N(#?7$(,&('&A8%+*+&Q:(N$,6&%N*)%6*&
%AA#$!%7$(,&7(&K%+-%L&F(:A(+$7*&I,-*M0 7)%-$,6&!8%,,*#+R
4;5.4;= /?##&:%)@*7&*,-+0&C42.C44
%AA#"$,6&DEFG&7(&!(,N*)7&7(& !#%++$!&7(AA$,6&'():%7$(,&7(&*,-&/?##
$,7*):*-$%7*&*,7)"0&41=.419 :%)@*70&C21.C4C
!(,+7)?!7$(,&%,-&:%$,7*,%,!*0&4;3.4;; !(,'$):%7$(,&('&7)*,-&)*N*)+%#0&C44.C4C
A*)'():%,!*&)*!()-0&4;;.4;5 -*N*#(A:*,7&('&/(77(:&'():%7$(,0&C4C
-%7%&)*L?$)*:*,7+ K%+-%L&/?##&:%)@*70&\%,?%)"&C2220&C42
!(:A?7$,6&BOIK&I,-*M0&4;1 *M!8%,6*&7)%-*-&'?,-+Y&;'' UBZ+
D(,*7%)"&D(-*#&$,-$!%7()0&3=.3> *MA(,*,7$%#&:(N$,6&%N*)%6*+
P**@#"&I:A?#+*&J$6,%#0&43> +*!?)$,6&%N*)%6*+0&43=
-%"&7)%-$,6 +:((78$,6&!(,+7%,7+0&43;.435
DEFG&QD(N$,6&EN*)%6*& +A*!$%#&L?%#$7$*+0&43=.43>
F(,N*)6*,!*.G$N*)6*,!*R& *M7*,-*-&!8%,,*#&+?AA()70&+7(!@&:%)@*7
A*)'():%,!*0&49>.499 !8%)7+0&9;
+8()7.7*):&!"!#*+0&42=.42> ]*M7*),%#^&+7(!@&:%)@*7&N*)+?+&]$,7*),%#0^
-%"+&('&78*&:(,780&7$:*.!"!#*&A%77*),+0&12 449.441
-*!#$,$,6&<*-6*&'():%7$(,+&Q+7(!@&:%)@*7
!8%)7+R0&>2.>4
&'& !"#$%
# '
'%#+*&/)*%@(?7+X/)*%@-(<,+&Q+7(!@&:%)@*7 $-*,7$'$!%7$(,&('&$,N*+7:*,7&!#$:%7*+0&C>
!8%)7+R0&95.9= !(:/$,$,6&:(,*7%)"&%,-&)*#%7$N*&+7)*,678
Z*-*)%#&O*+*)N*&H(%)-0&3= $,-$!%7()+0&;2.;C
'$N*."*%)&B)*%+?)"&,(7*+0&3= D(,*7%)"&D(-*#0&35
."6<*0,$='(',6/> QZ)**/?)6R0&C20&CC5 !%#!?#%7$(,0&3>.;2
'():?#%+ -%7%&)*L?$)*:*,7+0&3=.3>
H#%!@.J!8(#*+&'():?#%0&45; )?#*+&%,-&A)(!*-?)*+0&3>.;2
!(:A?7$,6&BOIK&I,-*M0&4;1.452 )*#%7$N*&+7)*,678&$,-$!%7()+
'(?)."*%)&:%)@*7&!"!#*+0&422.424 :%$,7*,%,!*&%,-&$,7*)A)*7%7$(,0&32.3C
Z)**/?)60&K*#+(,&ZY0&."6<*0,$='(',6/>4 CC5 K%+-%L&F(:A(+$7*&I,-*M0&C1.32
KTJU&I,-*M0&C9.3;
$%& $:A#$*-&N(#%7$#$7"0&455
6%$,XA%$,&)%7$(+0&:?7?%#&'?,-&A()7'(#$(+0&43 $,-$!%7()+0&;C
6%$,+&%,-&#(++*+&A*)!*,7%6*0&A*)'():%,!* 12b92&K*<&_$68bK*<&c(<&I,-$!%7()0&CCC
KTJU&I,-*M&N*)+?+&JVW0&33 !(:/$,$,6&:(,*7%)"&%,-&)*#%7$N*&+7)*,678
$,-$!%7()+0&;2.;C
_%)-$,60&J"0&13 G%$#"&H%+*-&H)*%-78&I:A?#+*&J$6,%#0&4;C
8*%-&%,-&+8(?#-*)&'():%7$(,+&Q+7(!@& %AA#$!%7$(,&7(&K%+-%L&F(:A(+$7*
:%)@*7&!8%)7+R0&>C I,-*M0&4;5.4;=
!(,'$):%7$(,&/"&:*%+?)*+&('&:%)@*7 !(,+7)?!7$(,&%,-&:%$,7*,%,!*0&4;3.4;;
:(:*,7?:0&>5 A*)'():%,!*&)*!()-0&4;;.4;5
*+7%/#$+8$,6&-(<,+$-*&A)$!*&(/S*!7$N*+0 DEFG&QD(N$,6&EN*)%6*&
>3.>5 F(,N*)6*,!*.G$N*)6*,!*R0&4=3
+*##$,6&!#$:%M0&>= /%+$!&!(,!*A7+0&4=9
N(#?:*&+A$@*+0&>= !(,+7)?!7$(,0&4==.4=>
8$68.)$+@&$,N*+7:*,7+0&$-*,7$'$!%7$(,0&C> !(,N*)7$,6&78*&-%$#"&H)*%-78&B8)?+7
!(:/$,$,6&:(,*7%)"&%,-&)*#%7$N* :(-*#&$,7(&%,&$,7*):*-$%7*&*,7)"0
+7)*,678&$,-$!%7()+0&;2.;C 41=.419
D(,*7%)"&D(-*#0&35.;2 -$N*)6*,!*.!(,'$):*-&+$6,%#+0&4>4.4>3
)*#%7$N*&+7)*,678&$,-$!%7()+0&C9.3; $-*,7$'$!%7$(,&('&+$6,$'$!%,7&:%)@*7
_$)+!80&\*'')*"0&CC= #(<+0&412.41;
_$)+!8&`)6%,$a%7$(,0&5>'$;?"/2$56,-'6@( $:A)(N$,6&+$6,%#+&/"&?+$,6&DEFG
A0<,&,/4 130&CC= !(:/$,%7$(,+0&4>;.4>5
_$)+!80&T%#*0&130&CC= :%)@*7&!"!#*&+7%6*+0&415
8(#$-%".)*#%7*-&+*%+(,%#&A%77*),+&Q+7(!@ :%)@*7&-(<,7)*,-+0&4>=.4>>
:%)@*7&!"!#*+R0&12 :%)@*7&?A7)*,-+0&4>5.4>=
A*)'():%,!*0&495.412
)?#*+&%,-&A)(!*-?)*+0&415.41=
)?#*+&:(-$'$!%7$(,+0&4>>.4>1
+$6,%#&#$,*0&4=1.4>2
!"#$% &''
+7(A.#(++&+$6,%#+0&492.494 :%S().7*):&%,6#*&!8%,6*+0&92
+?AA#*:*,7%)"&/?"&%,-&+*##&)?#*+0&4>2 :%)@*7&-(<,7)*,-+0&92
+",*)6"0&494.495 K%+-%L&F(:A(+$7*&+%:A#*0&>1.92
7)*,-&!(,'$):%7$(,0&4=9.4=1 )*+$+7%,!*&a(,*+0&>1
:%)@*7&/)*%-78&$,-$!%7()+0&CC4 +?AA()7&a(,*+0&>>.>9
D(,*7%)"&D(-*#0&35 +",*)6$+7$!&!8%)7&A%77*),+0&>4
!%#!?#%7$(,0&3>.;2 7)*,-#$,*+0&94.9;
-%7%&)*L?$)*:*,7+0&3=.3> <*-6*&'():%7$(,0&=1.>4
)?#*+&%,-&A)(!*-?)*+0&3>.;2 BOIK&I,-*M0&4;9
,*<&8$68X,*<&#(<&$,-$!%7()0&441 %+&/(77(:&'$,-$,6&7((#0&454.453
%AA#$!%7$(,&7(&78*&K%+-%L&F(:A(+$7*0 -%7%&)*L?$)*:*,7+&'()&!(:A?7$,60&4;1
4C=.4C> '():?#%&'()&!%#!?#%7$,60&4;1.452
/?"X8(#-&A%)%:*7*)+0&4C;.4C= $,7*)A)*7$,6&BOIK&#*N*#+0&452.454
!(,'$):%7$(,+&('&A)$!*&7)*,-+0&4C2 B)$A#*&D(:*,7?:&K%+-%L&I,-*M&B)%-$,6
:*%+?)$,6&#*N*#&('&A(+$7$N*&/)*%-78 D(-*#0&59
?,%,$:$7"0&4C; :%$,7*,%,!*&A)(!*-?)*0&51.=C
,*6%7$N*&-$N*)6*,!*+0&4C2.4CC )*+*%)!8&+7)?!7?)*0&=C.=3
A(+$7$N*&-$N*)6*,!*+0&4CC.4C3 dIW&Qd(#%7$#$7"&I,-*MR0&453
A)*./*%)&:%)@*7&!(:A%)$+(,+0&4C> /?##&:%)@*7+0&45=
()6%,$a%7$(,&('&:%)@*7&+7)%7*6$*+0&CC2.CC4 $:A#$*-&N(#%7$#$7"0&455
)%7*&('&!8%,6*0&42;.42=0&CC4 )%,6*+0&455
49.:(,78&:%)@*7&!"!#*+0&42; 78*()*7$!%#&A)$!$,6&('&(A7$(,+0&45;
%-S?+7$,6&(N*)/(?687X(N*)+(#-&#*N*#+ P**@#"&I:A?#+*&J$6,%#
'()&:%)@*7&7)*,-0&5=.5> /%+$!&!(,!*A7+0&4;2.4;4
/*%)&:%)@*7&A%77*),+0&55.5= /?"X+*##&+$6,%#+0&431.4;2
/?##&:%)@*7&A%77*),+0&55.5= !%#!?#%7$(,&+*L?*,!*0&431
!(,+7)?!7$,6&:*%+?)*:*,7+0&53.5; -%7%&)*L?$)*:*,7+0&43>
:%)@*7&!"!#*0&=3 $,-$!*+
KTJU&I,-*M&%-N%,!*.-*!#$,*&#$,*0& G(<&I,-?+7)$%#+0&449
432.43; K%+-%L&422&I,-*M0&;3
N%)$%/#*+0&5>.59 K%+-%L&F(:A(+$7*&I,-*M0&C1.3C0&449
)*#%7$N*&+7)*,678&$,-$!%7()+ KTJU&I,-*M0&C9.3;0&449
!(:/$,$,6&<$78&D(,*7%)"&D(-*#0& J7%,-%)-&e&V(()f+&522&I,-*M0&449
;2.;C BOIK&I,-*M0&4;9
:%$,7*,%,!*&%,-&$,7*)A)*7%7$(,0&32.3C %+&/(77(:&'$,-$,6&7((#0&454.453
K%+-%L&F(:A(+$7*&I,-*M0&C1.32 -%7%&)*L?$)*:*,7+&'()&!(:A?7$,60&4;1
KTJU&I,-*M0&C9.3; '():?#%&'()&!%#!?#%7$,60&4;1.452
OJI&QO*#%7$N*&J7)*,678&I,-*MR0&424.423 $,7*)A)*7$,6&BOIK&#*N*#+0&452.454
+7(!@&:%)@*7&!8%)7+ d%#?*&c$,*&E)$78:*7$!&EN*)%6*0&449
%,6#*&!8%,6*+0&=>.=1 $,7*)*+7&)%7*+0&Z*-*)%#&O*+*)N*&H(%)-0&3=
'%#+*&/)*%@(?7+X/)*%@-(<,+0&95.9= $,7*):*-$%7*&:%)@*7&!"!#*+&<$78&!(,'$):$,6
8*%-&%,-&+8(?#-*)&'():%7$(,+0&>C.>= $,-$!%7()+0&424.423
&') !"#$%
$,7*):*-$%7*.7*):&:(N$,6&%N*)%6*+0&;5
]$,7*),%#^&+7(!@&:%)@*7&N*)+?+&]*M7*),%#0^
+
449.441 DEFG&QD(N$,6&EN*)%6*&
$,7*),%#&+7)*,678&('&+7(!@&:%)@*70&,*< F(,N*)6*,!*.G$N*)6*,!*R0&4=30&CC4
8$68X,*<&#(<&$,-$!%7()0&441 /%+$!&!(,!*A7+0&4=9
%AA#$!%7$(,&7(&78*&K%+-%L&F(:A(+$7*0 !(,+7)?!7$(,0&4==.4=>
4C=.4C> !(,N*)7$,6&78*&-%$#"&H)*%-78&B8)?+7
/?"X8(#-&A%)%:*7*)+0&4C;.4C= :(-*#&$,7(&%,&$,7*):*-$%7*&*,7)"0
!(,'$):%7$(,+&('&A)$!*&7)*,-+0&4C2 41=.419
:*%+?)$,6&#*N*#&('&A(+$7$N*&/)*%-78& /?"&+$6,%#+0&41>
?,%,$:$7"0&4C; !(,-$7$(,+0&41>.419
,*6%7$N*&-$N*)6*,!*+0&4C2.4CC K%+-%L&F(:A(+$7*&I,-*M0&419
A(+$7$N*&-$N*)6*,!*+0&4CC.4C3 +*##&+$6,%#+0&41>
A)*./*%)&:%)@*7&!(:A%)$+(,+0&4C> -$N*)6*,!*.!(,'$):*-&+$6,%#+0&4>4.4>3
$,7*)A)*7%7$(, Z$#7*)*-&H)*%-78&I:A?#+*&D(-*#0&CCC
)*#%7$N*&+7)*,678&$,-$!%7()+0&32.3C $-*,7$'$!%7$(,&('&+$6,$'$!%,7&:%)@*7&#(<+0
BOIK&I,-*M&#*N*#+0&452.454 412.41;
$,N*)+*&7)*,-#$,*&+?AA()7&%,-&)*+$+7%,!* $:A)(N$,6&+$6,%#+&/"&?+$,6&DEFG&
a(,*+0&9C !(:/$,%7$(,+0&4>;.4>5
$,N*+7:*,7&N*8$!#*+0&44.4C :%)@*7&!"!#*&+7%6*+0&415
:%)@*7&-(<,7)*,-+0&4>=.4>>
(%)%* :%)@*7&?A7)*,-+0&4>5.4>=
A*)'():%,!*0&495
#*,678+&('&:%)@*7&!"!#*+0&11
/?##&:%)@*7&('&419C.C2220&49=.49>
49.:(,78&!"!#*+0&42;
-%"&7)%-$,60&49>.499
-%"&7)%-$,6&<$78&+8()7.7*):&!"!#*+0&
:%S()&:%)@*7&7)*,-+0&499.412
42=.42>
+7(A.#(++&+$6,%#&$,&%!7$(,0&49>
'(?)."*%)&:%)@*7&!"!#*+0&422.424
)?#*+&%,-&A)(!*-?)*+0&415.41=
$,7*):*-$%7*&!"!#*+&<$78&!(,'$):$,6&
)?#*+&:(-$'$!%7$(,+0&4>>.4>1
$,-$!%7()+0&424.423
+$6,%#&#$,*0&4=1.4>2
#*++(,+&('&%&7)%-*)0&CC3.CC;
+7(A.#(++&+$6,%#+0&492.494
#(,6.7*):&C22.-%"&:(N$,6&%N*)%6*+0&;5
+?AA#*:*,7%)"&/?"&%,-&+*##&)?#*+0&4>2
#(,6.7*):&!"!#*+0&B.'():%7$(,+0&443
+",*)6"
#(++*+&%,-&6%$,+0&A*)'():%,!*&KTJU&I,-*M
!(,'$6?)%7$(,+&78%7&+?66*+7&:()*&%!7$N*
N*)+?+&JVW0&33
+*##$,60&495
#(<.)$+@&$,N*+7:*,7+0&$-*,7$'$!%7$(,0&C>
!"!#$!%#&+7?-$*+&!(,'$):%7$(,0&49C.493
!(:/$,$,6&:(,*7%)"&%,-&)*#%7$N*
#*++&78%,&7$:*#"&+$6,%#+0&493.49;
+7)*,678&$,-$!%7()+0&;2.;C
:(,*"&:%,%6*:*,70&49;
D(,*7%)"&D(-*#0&35.;2
7)*,-#$,*&!(,'$):%7$(,0&494
)*#%7$N*&+7)*,678&$,-$!%7()+0&C9.3;
7)*,-&!(,'$):%7$(,0&4=9.4=1
#(<+&Q+7(!@&:%)@*7&#(<+R0&DEFG&
$-*,7$'$!%7$(,0&412.41;
!"#$% &'*
:%$,7*,%,!* #(<+0&4;9
G%$#"&H%+*-&H)*%-78&I:A?#+*&J$6,%#0& :(:*,7?:0&5C.=3
4;3.4;; +7)%7*6$*+
)*#%7$N*&+7)*,678&$,-$!%7()+0&32.3C %AA#"$,6&$,-$!%7()+&%,-&+*%+(,%#
B)$A#*&D(:*,7?:&K%+-%L&I,-*M&B)%-$,6 !"!#*+0&CC2.CC4
D(-*#0&51.=C -*'$,$,6&:%S()&7)*,-+&%,-&7*):&!"!#*+0
D%S()&O*N*)+%#&d(#%7$#$7"&D(-*#0&45= C41.CC2
!%#!?#%7$(,0&45> *+7%/#$+8$,6&-$)*!7$(,&%,-&+7)*,678&('
:%)@*7.)*N*)+%#&/?"&+$6,%#+0&45>.4=3 !?))*,7&7)*,-+0&CCC
:%)@*7&Q+7(!@&:%)@*7R '$,*.7?,$,6&$,7*):*-$%7*.7*):&
/)*%-78&:*%+?)*:*,7+0&441.4;= +7?-$*+0&CCC
!8%)7+ 7)*,-+
%,6#*&!8%,6*+0&=>.=1 %-S?+7$,6&(N*)/(?687&%,-&(N*)+(#-&)%7*
'%#+*&/)*%@(?7+X/)*%@-(<,+0&95.9= ('&!8%,6*&#*N*#+0&5=.5>
8*%-&%,-&+8(?#-*)&'():%7$(,+0&>C.>= -(<,7)*,-+0&920&4>=.4>>0&C25
:%S().7*):&%,6#*&!8%,6*+0&92 DEFG&QD(N$,6&EN*)%6*&
:%)@*7&-(<,7)*,-+0&92 F(,N*)6*,!*.G$N*)6*,!*R&
K%+-%L&F(:A(+$7*&+%:A#*0&>1.92 A*)'():%,!*0&499.412
)*+$+7%,!*&a(,*+0&>1 ?A7)*,-+0&4>5.4>=
+?AA()7&a(,*+0&>>.>9 N(#%7$#$7"0&D%S()&O*N*)+%#&d(#%7$#$7"
+",*)6$+7$!&!8%)7&A%77*),+0&>4 D(-*#0&45=.4=3
7)*,-#$,*+0&94.9; <%N*+
<*-6*&'():%7$(,0&=1.>4 !%#*,-%)./%+*-&!"!#*+0&12.130&445
!"!#*+ #*,678+0&11.42>
:(N$,6&%N*)%6*+0&;1.5C A)*+$-*,7$%#&+7(!@&:%)@*7&!"!#*+0&13.1;
)%7*&('&!8%,6*&A%77*),+0&=3 +*6:*,7%7$(,0&1>.11
!"!#$!%#&'()!*+ B.'():%7$(,+0&42>.445
!%#*,-%)./%+*-&!"!#*+0&12.130&445 7$:*.!"!#*&A%77*),+0&15.1>0&445
#*,678+0&11.42> :%)@*7.)*N*)+%#&/?"&+$6,%#+0&D%S()&O*N*)+%#
A)*+$-*,7$%#&+7(!@&:%)@*7&!"!#*0&13.1; d(#%7$#$7"&D(-*#0&45>.4=3
+*6:*,7%7$(,0&1>.11 :*%+?)*:*,7+
B.'():%7$(,+0&42>.445 :%)@*7&/)*%-78
7$:*.!"!#*&A%77*),+0&15.1>0&445 %-N%,!*.-*!#$,*&#$,*0&4410&4C>.43;
8$68+0&4;9 G%$#"&H%+*-&H)*%-78&I:A?#+*&J$6,%#0
$,-$!%7()+Y ;'' $,-$!%7()+ 4;C.4;=
:%$,7*,%,!*&%,-&$,7*)A)*7%7$(,0&32.3C ,*<&8$68X,*<&#(<&$,-$!%7()0&441.4C>
K%+-%L&F(:A(+$7*&I,-*M0&C1.32 P**@#"&I:A?#+*&F(,7$,?%7$(,&J$6,%#0
KTJU&I,-*M0&C9.3; 43;.43>
BOIK&I,-*M0&4;9.453 P**@#"&I:A?#+*&J$6,%#0&43>.4;C
dIW&Qd(#%7$#$7"&I,-*MR0&453.45= )%7*&('&!8%,6*&$,-$!%7()0&53.5;
]$,7*),%#^&N*)+?+&]*M7*),%#0^&449.441 :$))()&A%77*),+0&B.'():%7$(,+0&444.44C
&'+ !"#$%
:(-*#+ !(,'$):%7$(,&('&7)*,-&)*N*)+%#0&C44.C4C
-%$#"&H)*%-78&B8)?+7&:(-*#0&41=.419 -*N*#(A:*,7&('&/(77(:&'():%7$(,0&C4C
DEFG&Z$#7*)*-&H)*%-78&I:A?#+*& K%+-%L&/?##&:%)@*70&
D(-*#0&CCC \%,?%)"&C2220&C42
D%S()&O*N*)+%#&d(#%7$#$7"&D(-*#0&45= $:A)(N*-&7*!8,$!%#&A$!7?)*0&C2=
!%#!?#%7$,60&45> :%)@*7&-(<,7)*,-0&C25
:%)@*7.)*N*)+%#&/?"&+$6,%#+0&45>.4=3 A8%+*+
B)$A#*&D(:*,7?:&K%+-%L&I,-*M&B)%-$,6 /?##&:%)@*7&*,-+0&C42.C44
D(-*#0&590&CCC !#%++$!&7(AA$,6&'():%7$(,&7(&*,-&/?##
:%$,7*,%,!*&A)(!*-?)*0&51.=C :%)@*70&C21.C4C
)*+*%)!8&+7)?!7?)*0&=C.=3 !(,'$):%7$(,&('&7)*,-&)*N*)+%#0&C44.C4C
:(:*,7?:&('&+7(!@&:%)@*70&)%7*&('&!8%,6* -*N*#(A:*,7&('&/(77(:&'():%7$(,0&C4C
$,-$!%7()+0&5C K%+-%L&/?##&:%)@*70&
%-S?+7$,6&(N*)/(?687&%,-&(N*)+(#-&#*N*#+ \%,?%)"&C2220&C42
'()&:%)@*7&7)*,-0&5=.5> A)$!*&)*7)%!*&7(&!*,7*)&!8%,,*#0&C2=.C2>
/*%)&:%)@*7&A%77*),+0&55.5= )*%!8$,6&?AA*)&7)%-$,6&/%,-0&C2=
/?##&:%)@*7&A%77*),+0&55.5= )*!(N*)"&)%##"0&C25.C2=
!(,+7)?!7$,6&:*%+?)*:*,7+0&53.5; )*'#*!7$(,&('&:%S()&7)*,-+0&411=.C22C0&
:%)@*7&!"!#*0&=3 C4C.C45
N%)$%/#*+0&5>.59 )?#*+&%,-&A)(!*-?)*+0&C25.C44
:(:*,7?:.:*%+?)$,6&$,-$!%7()+0&OJI <%),$,6&+$6,+0&C2>
QO*#%7$N*&J7)*,678&I,-*MR0&424.423 :(N$,6&%N*)%6*+0&;3
D(,*7%)"&D(-*#&$,-$!%7()0&35 *MA(,*,7$%#&:(N$,6&%N*)%6*+
!%#!?#%7$(,0&3>.;2 +*!?)$,6&%N*)%6*+0&43=
!(:/$,$,6&<$78&)*#%7$N*&+7)*,678& +:((78$,6&!(,+7%,7+0&43;.435
$,-$!%7()+0&;2.;C +A*!$%#&L?%#$7$*+0&43=.43>
-%7%&)*L?$)*:*,7+0&3=.3> $,7*):*-$%7*.7*):0&;5
)?#*+&%,-&A)(!*-?)*+0&3>.;2 #(,6.7*):&C22.-%"0&;5
:(,*"&:%,%6*:*,70&DEFG&$,-$!%7()0&49; :%)@*7&!"!#*0&;1.5C
D(N$,6&EN*)%6*&F(,N*)6*,!*.G$N*)6*,!*Y :"78+0&;9.;1
;'' DEFG N*)"&#(,6.7*):0&;>.;9
:(N$,6&%N*)%6*&7)%-$,6&!8%,,*#+0&C24.CC4 <**@#"./%+*-&#(,6*).7*):0&;=.;>
/%,-&!8%,,*#+0&C4> :?7?%#&'?,-&A()7'(#$(+0&C=
/%+$!&!(,!*A7+0&C29 /?".%,-.8(#-&+7)%7*6"0&C4.CC
!*,7*)&#$,*0&C2> )*#%7$N*&+7)*,678&$,N*+7$,60&4>.C=
!(,'$):%7$(,&('&$:A)(N*-&:%)@*7 8$68#"&N(#%7$#*&'?,-+0&C;.C5
:(:*,7?:0&C2> A*)'():%,!*&%,%#"+$+0&CC.C3
!(,+7)?!7$,6&:(N$,6&%N*)%6*&A)$!*& )*/%#%,!$,6&A()7'(#$(+0&C2.C4
(+!$##%7()+0&C4=.C4> )$+@X)*<%)-&!(:A%)$+(,+0&4C.4>
!)*%7$,6&!8%,,*#+0&C23 -)%<-(<,0&45.4=
-*7*):$,$,6&(''+*70&C23.C2; 6%$,XA%$,&)%7$(+0&43
*N(#?7$(,&('&A8%+*+
/?##&:%)@*7&*,-+0&C42.C44
!#%++$!&7(AA$,6&'():%7$(,&7(&*,-&/?##
:%)@*70&C21.C4C
!"#$% &',
)*+?)6*,!*&('&:%)@*7&%-N%,!*0&C4;
, +7)(,6&/?##$+8&?A78)?+70&C43
K%+-%L&422&I,-*M0&;3 7*!8,$!%#&<%),$,6+0&C4;
K%+-%L&F(:A(+$7*&I,-*M0&440&C1.320&449 7(A&'():%7$(,0&C4;
%-N%,!*.-*!#$,*&#$,*+0&4C9 A*)'():%,!*&+$:$#%)$7"&7(&JVW0&33.3;
%AA#$!%7$(,&7(&G%$#"&H%+*-&H)*%-78
I:A?#+*&J$6,%#0&4;5.4;= -
%AA#$!%7$(,&7(&,*<&8$68X,*<&#(<&
(''+*7&Q:(N$,6&%N*)%6*&7)%-$,6&!8%,,*#+R0
$,-$!%7()0&4C=.4C>
C23.C2;
:%$,7*,%,!*&%,-&$,7*)A)*7%7$(,0&32.3C
(A7$(,+0&78*()*7$!%#&A)$!$,60&45;
B)$A#*&D(:*,7?:&B)%-$,6&D(-*#0&59.=3
()6%,$a%7$(,&('&:%)@*7&+7)%7*6$*+
B'-$!,:+($='(',6/>$C&:'(?<'&?$;?6,?'73
%AA#"$,6&$,-$!%7()+&%,-&+*%+(,%#&!"!#*+0
Q,*<+#*77*)R0&CC>
CC2.CC4
B'#$D"&/'E?($+&$5'/>&+/,0$A&,03(+(
-*'$,$,6&:%S()&7)*,-+&%,-&7*):&!"!#*+0
QP$#-*)R0&C42
C41.CC2
,*<&8$68X,*<&#(<&$,-$!%7()&Q:%)@*7
*+7%/#$+8$,6&-$)*!7$(,&%,-&+7)*,678&('&
/)*%-78&:*%+?)*:*,7R0&441
!?))*,7&7)*,-+0&CCC
%AA#$!%7$(,&7(&78*&K%+-%L&F(:A(+$7*0
'$,*.7?,$,6&$,7*):*-$%7*.7*):&
4C=.4C>
+7?-$*+0&CCC
/?"X8(#-&A%)%:*7*)+0&4C;.4C=
(+!$##%7()+0&C4=.C4>
!(,'$):%7$(,+&('&A)$!*&7)*,-+0&4C2
(N*)/(?687&)%7*&('&!8%,6*&#*N*#+0&5=.5>
:*%+?)$,6&#*N*#&('&A(+$7$N*&/)*%-78&
(N*)+(#-&)%7*&('&!8%,6*&#*N*#+0&5=.5>
?,%,$:$7"0&4C;
,*6%7$N*&-$N*)6*,!*+0&4C2.4CC
A(+$7$N*&-$N*)6*,!*+0&4CC.4C3
.
A)*./*%)&:%)@*7&!(:A%)$+(,+0&4C> A*,,%,7&'():%7$(,+&Q+7(!@&:%)@*7&
K*<&T()@&J7(!@&UM!8%,6*&I,-*MY&;'' !8%)7+R0&=9
KTJU&I,-*M A*)!*,7%6*&('&A)('$7%/#*&7)%-*+0&
,*<+#*77*)+0&CC=.CC> A*)'():%,!*&KTJU&I,-*M&
B"9",-$.*&-FG Q,*<+#*77*)R0&490&CC= N*)+?+&JVW0&33
KTJU&I,-*M0&C9.3;0&;=0&449 A*)'():%,!*
%-N%,!*.-*!#$,*&#$,*+0&4C>.43; G%$#"&H%+*-&H)*%-78&I:A?#+*&J$6,%#0&
42.-%"&)%7*&('&!8%,6*0&433.43; 4;;.4;5
C22C.C22;0&4C1 DEFG&QD(N$,6&EN*)%6*&
C4.-%"&)%7*&('&!8%,6*0&432.43C F(,N*)6*,!*.G$N*)6*,!*R&
:%$,7*,%,!*&%,-&$,7*)A)*7%7$(,0&32.3C $,-$!%7()0&495
:(N$,6&%N*)%6*&7)%-$,6&!8%,,*#+& /?##&:%)@*7&('&419C.C2220&49=.49>
)*'#*!7$(,&('&:%S()&7)*,-+0&C4C.C45 -%"&7)%-$,60&49>.499
!*,7*)&!8%,,*#&#$,*0&C43 :%S()&:%)@*7&7)*,-+0&499.412
!(,'$):%7$(,&('&-(<,7?),0&C45 +7(A.#(++&+$6,%#&$,&%!7$(,0&49>
:%S()&-(<,7)*,-0&C4; )*#%7$N*&+7)*,678&$,N*+7$,60&CC.C3
A8%+$,6.(?7&('&#(,6&A(+$7$(,+0&C45 7$:*.!"!#*&A%77*),+0&1C.13
&'- !"#$%
A8%+*+0&:(N$,6&%N*)%6*&7)%-$,6&!8%,,*#+ )*!(N*)"&)%##"0&:(N$,6&%N*)%6*&7)%-$,6
/?##&:%)@*7&*,-+0&C42.C44 !8%,,*#+0&C25.C2=
!#%++$!&7(AA$,6&'():%7$(,&7(&*,-&/?## O*#%7$N*&J7)*,678&I,-*MY&;'' OJI
:%)@*70&C21.C4C )*#%7$N*&+7)*,678&$,-$!%7()+0&C9
!(,'$):%7$(,&('&7)*,-&)*N*)+%#0&C44.C4C !(:/$,$,6&<$78&D(,*7%)"&D(-*#0&;2.;C
-*N*#(A:*,7&('&/(77(:&'():%7$(,0&C4C :%$,7*,%,!*&%,-&$,7*)A)*7%7$(,0&32.3C
K%+-%L&/?##&:%)@*70&\%,?%)"&C2220&C42 K%+-%L&F(:A(+$7*&I,-*M0&C1.32
A()7'(#$(+0&)*/%#%,!$,60&41.C4 KTJU&I,-*M0&C9.3;
A)*.8(#$-%"&:%)@*7&A%77*),+0&12 )*#%7$N*&+7)*,678&$,N*+7$,60&49.C=
A)*+$-*,7$%#&+7(!@&:%)@*7&!"!#*+0&13.1; 8$68#"&N(#%7$#*&'?,-+0&C;.C5
A)$!*&(+!$##%7()+0&C4=.C4> A*)'():%,!*&%,%#"+$+0&CC.C3
A)$!$,6&(A7$(,+0&45; )*/%#%,!$,6&A()7'(#$(+0&C2.C4
A)(!*-?)*+ N*)+?+&/?".%,-.8(#-&+7)%7*6"0&4>.CC
DEFG&$,-$!%7()0&415.41= )*L?$)*:*,7+
D(,*7%)"&D(-*#&$,-$!%7()0&3>.;2 D(,*7%)"&D(-*#0&3=.3>
:(N$,6&%N*)%6*&7)%-$,6&!8%,,*#+0&C25.C44 P**@#"&I:A?#+*&J$6,%#0&43>
)*+*%)!8&+(?)!*+0&CC5
/%0 )*+*%)!8&+7)?!7?)*0&B)$A#*&D(:*,7?:&
)%,6*+0&dIW&Qd(#%7$#$7"&I,-*MR0&455 K%+-%L&I,-*M&B)%-$,6&D(-*#0&
)%7*&('&!8%,6*&$,-$!%7()+0&5C0&CC4 =C.=3
49.:(,78&:%)@*7&!"!#*+0&42; )*+$+7%,!*&a(,*+&Q+7(!@&:%)@*7&!8%)7+R0&>1.9C
%-S?+7$,6&(N*)/(?687X(N*)+(#-&#*N*#+&'() )*+(?)!*+
:%)@*7&7)*,-0&5=.5> !8%)7$,6&)*+(?)!*+0&CC;
/*%)&:%)@*7&A%77*),+0&55.5= $,N*+7:*,7&,*<+#*77*)+0&CC=.CC>
/?##&:%)@*7&A%77*),+0&55.5= )*+*%)!8&+(?)!*+0&CC5
!(,+7)?!7$,6&:*%+?)*:*,7+0&53.5; 7*!8,$!%#&%,%#"+$+&+(?)!*+0&CC5.CC=
:%)@*7&!"!#*0&=3 )$+$,6&<*-6*&'():%7$(,+&Q+7(!@&:%)@*7
KTJU&I,-*M&%-N%,!*.-*!#$,*&#$,* !8%)7+R0&>4
42.-%"&)%7*&('&!8%,6*0&433.43; )$+@
C4.-%"&)%7*&('&!8%,6*0&432.43C )*#%7$N*&+7)*,678&$,N*+7$,6
N%)$%/#*+0&5>.59 8$68#"&N(#%7$#*&'?,-+0&C;.C5
)%7$(+0&6%$,XA%$,0&43 A*)'():%,!*&%,%#"+$+0&CC.C3
)*%-$,6+&Q)*!(::*,-*-&)*+(?)!*+R )*<%)-&!(:A%)$+(,+&/*7<**,&*L?$7"
!8%)7$,6&)*+(?)!*+0&CC; :?7?%#&'?,-&A()7'(#$(+0&4C.4>
$,N*+7:*,7&,*<+#*77*)+0&CC=.CC> -)%<-(<,0&45.4=
)*+*%)!8&+(?)!*+0&CC5 6%$,XA%$,&)%7$(+0&43
7*!8,$!%#&%,%#"+$+&+(?)!*+0&CC5.CC= OJI&QO*#%7$N*&J7)*,678&I,-*MR0&424.4230&C42
)*/%#%,!$,6&A()7'(#$(+0&41.C4 )?#*+
)*!(::*,-*-&)*+(?)!*+ DEFG&$,-$!%7()0&415.41=
!8%)7$,6&)*+(?)!*+0&CC; D(,*7%)"&D(-*#&$,-$!%7()0&3>.;2
$,N*+7:*,7&,*<+#*77*)+0&CC=.CC> :(N$,6&%N*)%6*&7)%-$,6&!8%,,*#+0&C25.C44
)*+*%)!8&+(?)!*+0&CC5
7*!8,$!%#&%,%#"+$+&+(?)!*+0&CC5.CC=
!"#$% &'.
+7%6*+&Q:%)@*7&!"!#*R
1 DEFG&QD(N$,6&EN*)%6*&
+*%+(,%#&:%)@*7&!"!#*+ F(,N*)6*,!*.G$N*)6*,!*R&
!%#*,-%)./%+*-0&12.130&445 $,-$!%7()0&415
/*+7&%,-&<()+7&:(,78+&('&78*&"*%)0&12 :(N$,6&%N*)%6*+0&;1.5C
/*+7&+$M.:(,78&A*)$(-0&1C )%7*&('&!8%,6*&A%77*),+0&=3
-%"+&('&78*&:(,780&12 J7%,-%)-&e&V(()f+&422&I,-*MY&;'' JVW
A*)'():%,!*&*N%#?%7$(,0&1C.13 +7(!@&:%)@*7
A)*.8(#$-%"&A%77*),+0&12 /)*%-78&:*%+?)*:*,7+0&441.4;=
<()+7&+$M.:(,78&A*)$(-0&1C !8%)7+
()6%,$a%7$(,&('&:%)@*7&+7)%7*6$*+0&CC2.CC4 %,6#*&!8%,6*+0&=>.=1
A)*+$-*,7$%#&+7(!@&:%)@*7&!"!#*+0&13.1; '%#+*&/)*%@(?7+X/)*%@-(<,+0&95.9=
;',("&,0$5+<+&7$;?6,?'73 Q_%)-$,6R0&13 8*%-&%,-&+8(?#-*)&'():%7$(,+0&>C.>=
+*!?)$,6&*MA(,*,7$%#&:(N$,6&%N*)%6*+0&43= :%S().7*):&%,6#*&!8%,6*+0&92
+*!?)$7$*+0&UBZ+&Q*M!8%,6*&7)%-*-&'?,-+R0&45 :%)@*7&-(<,7)*,-+0&92
+*6:*,7%7$(,0&:%)@*7&!"!#*+0&1>.11 K%+-%L&F(:A(+$7*&+%:A#*0&>1.92
+*##&+$6,%#+ )*+$+7%,!*&a(,*+0&>1
'%#+*&/)*%@(?7+X/)*%@-(<,+&Q+7(!@& +?AA()7&a(,*+0&>>.>9
:%)@*7&!8%)7+R0&95.9= +",*)6$+7$!&!8%)7&A%77*),+0&>4
DEFG&QD(N$,6&EN*)%6*& 7)*,-#$,*+0&94.9;
F(,N*)6*,!*.G$N*)6*,!*R <*-6*&'():%7$(,0&=1.>4
-$N*)6*,!*.!(,'$):*-&+$6,%#+0&4>4.4>3 !"!#*+
$:A)(N$,6&+$6,%#+&/"&?+$,6&DEFG :(N$,6&%N*)%6*+0&;1.5C
!(:/$,%7$(,+0&4>;.4>5 )%7*&('&!8%,6*&A%77*),+0&=3
:%)@*7&-(<,7)*,-+0&4>=.4>> !"!#$!%#&'()!*+
:%)@*7&?A7)*,-+0&4>5.4>= !%#*,-%)./%+*-&!"!#*+0&12.130&445
)%7$(,%#*0&4>2 #*,678+0&11.42>
)?#*+&%,-&A)(!*-?)*+0&41= A)*+$-*,7$%#&+7(!@&:%)@*7&!"!#*0&13.1;
)?#*+&:(-$'$!%7$(,+0&4>>.4>1 +*6:*,7%7$(,0&1>.11
+7(A.#(++&+$6,%#+0&492.494 B.'():%7$(,+0&42>.445
P**@#"&I:A?#+*&J$6,%#0&431.4;2 7$:*.!"!#*&A%77*),+0&15.1>0&445
+8()7.7*):&!"!#*+0&-%"&7)%-$,60&42=.42> 8$68+0&4;9
J8()7.B*):&B)%-$,6&I,-*MY&;'' BOIK&I,-*M $,-$!%7()+Y ;'' $,-$!%7()+
+$6,%#&#$,*&QDEFG&$,-$!%7()R0&4=1.4>2 :%$,7*,%,!*&%,-&$,7*)A)*7%7$(,0&32.3C
J$6,%#*)7&F()A()%7$(,0&C2 K%+-%L&F(:A(+$7*&I,-*M0&C1.32
+:((78$,6&!(,+7%,7+0&*MA(,*,7$%#&:(N$,6 KTJU&I,-*M0&C9.3;
%N*)%6*+0&43;.435 BOIK&I,-*M0&4;9.453
JVW&QJ7%,-%)-&e&V(()f+&522&I,-*MR0&490& dIW&Qd(#%7$#$7"&I,-*MR0&453.45=
33.3;0&;>0&4490&45; ]$,7*),%#^&N*)+?+&]*M7*),%#0^&449.441
JVTGOJ0&45 #(<+0&4;9
:(:*,7?:0&5C.=3
&)/ !"#$%
+7)%7*6$*+ A*)'():%,!*&%,%#"+$+0&CC.C3
%AA#"$,6&$,-$!%7()+&%,-&+*%+(,%# )*/%#%,!$,6&A()7'(#$(+0&C2.C4
!"!#*+0&CC2.CC4 ;?6''?$;<,6?$='E"6?$H&0+&'4 13
-*'$,$,6&:%S()&7)*,-+&%,-&7*):&!"!#*+0 +?AA#*:*,7%#&$,-$!%7()+0&B.'():%7$(,+0&44;
C41.CC2 +?AA#*:*,7%)"&/?"&%,-&+*##&)?#*+0&DEFG
*+7%/#$+8$,6&-$)*!7$(,&%,-&+7)*,678&(' $,-$!%7()0&4>2
!?))*,7&7)*,-+0&CCC +?AA()7&a(,*+&Q+7(!@&:%)@*7&!8%)7+R0&>>.9C
'$,*.7?,$,6&$,7*):*-$%7*.7*):& +",*)6"0&=5.=>
+7?-$*+0&CCC DEFG&QD(N$,6&EN*)%6*&
7)*,-+ F(,N*)6*,!*.G$N*)6*,!*R
%-S?+7$,6&(N*)/(?687&%,-&(N*)+(#-&)%7* !(,'$6?)%7$(,+&78%7&+?66*+7&:()*&%!7$N*
('&!8%,6*&#*N*#+0&5=.5> +*##$,60&495
-(<,7)*,-+0&920&4>=.4>>0&C25 !"!#$!%#&+7?-$*+&!(,'$):%7$(,0&49C.493
DEFG&QD(N$,6&EN*)%6*& #*++&78%,&7$:*#"&+$6,%#+0&493.49;
F(,N*)6*,!*.G$N*)6*,!*R& :(,*"&:%,%6*:*,70&49;
A*)'():%,!*0&499.412 7)*,-#$,*&!(,'$):%7$(,0&494
?A7)*,-+0&4>5.4>= :%)@*7&!"!#*&+*6:*,7%7$(,0&11
N(#%7$#$7"0&D%S()&O*N*)+%#&d(#%7$#$7" )%7*+&('&!8%,6*&%,-&!"!#$!%#&A%77*),+0&
D(-*#0&45=.4=3 42;.425
<%N*+ +7(!@&:%)@*7&!8%)7+0&>4
!%#*,-%)./%+*-&!"!#*+0&12.130&445 B.'():%7$(,+0&442.444
#*,678+0&11.42> ;3(?'<($,&-$."6'/,(?(4 49
A)*+$-*,7$%#&+7(!@&:%)@*7&!"!#*+0&13.1;
+*6:*,7%7$(,0&1>.11 2
B.'():%7$(,+0&42>.445 B.'():%7$(,+0&42>.445
7$:*.!"!#*&A%77*),+0&15.1>0&445 !(,+7)?!7$(,0&429.442
5>'$;?"/2$56,-'6@($A0<,&,/ Q_$)+!8 #(,6.7*):&!"!#*+0&443
`)6%,$a%7$(,R0&130&CC= :$))()&A%77*),+0&444.44C
+7(A.#(++&+$6,%#+0&DEFG&$,-$!%7()0& +?AA#*:*,7%#&$,-$!%7()+0&44;
492.4940&49> +",*)6"0&442.444
+7)%7*6$*+ 5'/>&+/,0$A&,03(+($"8$;?"/2($I$
/?".%,-.8(#-&N*)+?+&)*#%7$N*&+7)*,678 D"<<"-+?+'(4 CC5
$,N*+7$,60&4>0&C4.CC 7*!8,$!%#&%,%#"+$+&+(?)!*+0&CC5.CC=
$,N*+7:*,7&N*8$!#*+0&44.4C 7*,.-%"&:(N$,6&%N*)%6*+0&;3.;5
:%)@*7&+7)%7*6$*+ 78)**."*%)&B)*%+?)"&,(7*0&D(,*7%)"&D(-*#
%AA#"$,6&$,-$!%7()+&%,-&+*%+(,%# )*L?$)*:*,7+0&3=
!"!#*+0&CC2.CC4 7$:*.!"!#*&A%77*),+
-*'$,$,6&:%S()&7)*,-+&%,-&7*):&!"!#*+0 53.-%"&:%)@*7&!"!#*0&15.1>
C41.CC2 #*,678+0&11
*+7%/#$+8$,6&-$)*!7$(,&%,-&+7)*,678&(' 49.:(,78&!"!#*+0&42;
!?))*,7&7)*,-+0&CCC -%"&7)%-$,6&<$78&+8()7.7*):&!"!#*+0
'$,*.7?,$,6&$,7*):*-$%7*.7*):& 42=.42>
+7?-$*+0&CCC '(?)."*%)&:%)@*7&!"!#*+0&422.424
)*#%7$N*&+7)*,678&$,N*+7$,60&49.C= $,7*):*-$%7*&!"!#*+&<$78&!(,'$):$,6
8$68#"&N(#%7$#*&'?,-+0&C;.C5 $,-$!%7()+0&424.423
!"#$% &)(
+*6:*,7%7$(,0&1>.11 N(#%7$#$7"
B.'():%7$(,+ D%S()&O*N*)+%#&d(#%7$#$7"&D(-*#0&45=
!(,+7)?!7$(,0&429.442 !%#!?#%7$,60&45>
#(,6.7*):&!"!#*+0&443 :%)@*7.)*N*)+%#&/?"&+$6,%#+0&45>.4=3
:$))()&A%77*),+0&444.44C )*#%7$N*&+7)*,678&$,N*+7$,6
+?AA#*:*,7%#&$,-$!%7()+0&44; 8$68#"&N(#%7$#*&'?,-+0&C;.C5
+",*)6"0&442.444 A*)'():%,!*&%,%#"+$+0&CC.C3
B)%-*J7%7$(,g&B)%-*J7%7$(,&J*!?)$7$*+0&I,!Y )$+@X)*<%)-&!(:A%)$+(,+&/*7<**,&
Q!8%)7$,6&)*+(?)!*R0&CC5 :?7?%#&'?,-&A()7'(#$(+0&4C.4>
56,-+&7$8"6$,$9+:+&7 QU#-*)R0&CC5 -)%<-(<,0&45.4=
B)*%+?)"&,(7*+0&D(,*7%)"&D(-*#& 6%$,XA%$,&)%7$(+0&43
)*L?$)*:*,7+0&3= dIW&Qd(#%7$#$7"&I,-*MR0&453
7)*,-#$,*+&Q+7(!@&:%)@*7&!8%)7+R0&94 /?##&:%)@*7+0&45=
!8%,,*#&+?AA()7&%,-&)*+$+7%,!*0&93.9; $:A#$*-&N(#%7$#$7"0&455
!(,'$):$,6&DEFG&+$6,%#+0&494 )%,6*+0&455
$,N*)+*&7)*,-#$,*&+?AA()7&%,-&)*+$+7%,!* 78*()*7$!%#&A)$!$,6&('&(A7$(,+0&45;
a(,*+0&9C d(#%7$#$7"&I,-*MY&;'' dIW
7)*,-+ N(#?:*&*M7)*:*+0&+7(!@&:%)@*7&8$68+&%,-
!(,'$):%7$(,0&DEFG&$,-$!%7()0&4=9.4=1 #(<+0&4;9
:(N$,6&%N*)%6*&7)%-$,6&!8%,,*#+0&C4C.C45
7)*,-.-*'$,$,6&7((#+0&C41.CC2 5%6
BOIK&I,-*M0&4;9 <%),$,6&+$6,+0&:(N$,6&%N*)%6*&7)%-$,6
%+&/(77(:&'$,-$,6&7((#0&454.453 !8%,,*#+0&C2>
-%7%&)*L?$)*:*,7+&'()&!(:A?7$,60&4;1 <%N*&'():%7$(,+&Q+7(!@&:%)@*7&!8%)7+R0&=9
'():?#%&'()&!%#!?#%7$,60&4;1.452 <*-6*&'():%7$(,+&Q+7(!@&:%)@*7&!8%)7+R0&
$,7*)A)*7%7$(,&('&BOIK&#*N*#+0&452.454 =1.>4
B)$A#*&D(:*,7?:&K%+-%L&I,-*M&B)%-$,6 P**@#"&I:A?#+*&F(,7$,?%7$(,&J$6,%#0&CCC
D(-*#0&590&CCC *MA(,*,7$%#&:(N$,6&%N*)%6*+
:%$,7*,%,!*&A)(!*-?)*0&51.=C +*!?)$,6&%N*)%6*+0&43=
)*+*%)!8&+7)?!7?)*0&=C.=3 +:((78$,6&!(,+7%,7+0&43;.435
+A*!$%#&L?%#$7$*+0&43=.43>
3%4 P**@#"&I:A?#+*&J$6,%#
?A7)*,-+&Q:%)@*7&?A7)*,-+R0&4>5.4>= /%+$!&!(,!*A7+0&4;2.4;4
/?"X+*##&+$6,%#+0&431.4;2
d%#?*&c$,*&E)$78:*7$!&EN*)%6*0&449
!%#!?#%7$(,&+*L?*,!*0&431
5>'$J,0*'$9+&'$C&:'(?<'&?$;*6:'3
-%7%&)*L?$)*:*,7+0&43>
Q,*<+#*77*)R0&CC=
<**@#"./%+*-&#(,6*).7*):&:(N$,6&
N%)$%/#*+0&)%7*&('&!8%,6*&$,-$!%7()+0&5>.59
%N*)%6*+0&;=.;>
N*8$!#*+&'()&$,N*+7:*,70&44.4C
P$#-*)0&P*##*+
N*)"&#(,6.7*):&:(N$,6&%N*)%6*+0&;>.;9
B'#$D"&/'E?($+&$5'/>&+/,0$A&,03(+(4 C42
dIW&Qd(#%7$#$7"&I,-*MR0&453
OJI&QO*#%7$N*&J7)*,678&I,-*MR0&42C
/?##&:%)@*7+0&45=
$:A#$*-&N(#%7$#$7"0&455
)%,6*+0&455
78*()*7$!%#&A)$!$,6&('&(A7$(,+0&45;
2%3
7
>> (8&!
>1. -9! 4" ()
*$* $0%!
%(, *!:
55
00 ;<=
/. *
6
0& 3!5
+(& &)
#1' #%9
!!!"#$#%#&'#!'%()('*+!,-.(&#.. 0? %(.
@,( #!2
A= %(*
#? +!*
01* )
!!!!!!!!!!!!!./(++.!(&!*&!(&.)*&)!0&+(&#1 .9
75B"CD "0"%/$,-)%'<"$6),-6'
,('&3-4$"46',('>,,76
6)230/#-",3601='
E"FG75 >,,76'>1'%#/"9,$1='
A"$36"'/&"'0#/"6/'/)/0"6'($,2'
/,4#1H6'2,6/'#3/&,$)/#/)<"'
>36)-"66'#3/&,$6='
4HIJ #-6;"$6')-'#-')-6/#-/*
!"#$%&'!#(#$)*'+"$,')-',-'".#%/01'/&"')-(,$2#/),-'1,3'-""4'/,'%,250"/"'/&"'/#67'#/'&#-4'8'($,2'%$"#/)-9'
7)00"$'5$"6"-/#/),-6:'/,'3-4"$6/#-4)-9'&,;'635501'%&#)-6';,$7:'/,'&,-)-9'1,3$')-/"$<)";'67)006='!"#$%&'
#%$,66'#00'>,,76')-'/&"'0)>$#$1'6)230/#-",3601'/,'5)-5,)-/'".#%/01'/&"'%&#5/"$:'6"-/"-%"'#-4'".#250"'1,3
-""4='?"#4'>,,76'($,2'%,<"$'/,'%,<"$='@$:'(0)5'$)9&/'/,'/&"'5#9"'1,3'-""4=
A$"<)";'!#(#$)'#6',3$'93"6/'#/'>36=6#(#$)>,,76,-0)-"=%,2',$'6)9-'35
(,$'#'($""'"-/"$5$)6"'/$)#0'#/';;;=6#(#$)>,,76,-0)-"=%,2B>)C4"2,=#65=
D06,'%&"%7',3/'!#(#$)E6'5$"2)"$'0)>$#$1'(,$'5$,9$#22"$6'#-4'FG
5$,("66),-#06'#/'6#(#$)=)-(,$2)/=%,2=
!1#.9$<)(()=&.3
>)=$71#2-$!129#1/$?2@#$?&((&)./$&.$A,$)1$4)=.$?21@#-/
!"#+,&(-).#/0#&'1).
U-,&#&1'(#B$$>C#0$:,4#1*(#1'&#*#1$2,#)."#='&1#'&CV
!"#$%&'()*+#F+'&$)5'"501',9#$9#0-)56/4$78-81#/$9$+,-&)./$:232;&.#
UW'31*,4#0$:,46(#!1#.<$7)(()=&.3>#F((,"&'*4CV
,-%.)/01("+ D),"+#X$44$=,)#9$)#LQ#/,*)(#*"+#Y)';'"*4#W*)>,&#Z'[*)+
X$)#L8#/,*)(?#$",#&)*+'";#(&)*&,;/#1*(#3$"('(&,"&4/#+,4':,),+#,@&)*$)+'"*)/#%)$95
'&(#'"#B.44#*"+#B,*)#2*)>,&(#*4'>,<#D),"+#X$44$='";C#\.(&#*(>#&1,#B'44'$"*'),#&)*+,)(#
=1$#),4/#$"#'&C#!"#&1'(#B$$>?#/$.644#2,,&#&1,2]*"+#/$.644#+'(3$:,)#1$=#&$#.(,#
D),"+#X$44$='";#'"#/$.)#$="#%$)&9$4'$C#F:,"#'9#/$.6),#"$&#*#B'44'$"*'),C#^,&C#
W'31*,4#0$:,4#)';$)$.(4/#*"*4/[,(#1'(&$)'3#%,)9$)2*"3,#+*&*#%)$:'";#&1*&#D),"+#
X$44$='";#&)*+'";#=$)>(C#_,#;$,(#)';1&# &$#&1,#($.)3,#9$)#'"(';1&#9)$2#($2,#$9#
&1,#B,(&#&),"+#9$44$=,)(#,:,)C#_$=#&$#4'2'&#)'(>?#,2%4$/#+'(3'%4'",?#*"+#(='";#9$)#
&1,#1$2,#)."#*),#*44#%*)&#$9#D),"+#X$44$='";C#0$:,4#*4($#+,B.">(#3$22$"4/#*35
3,%&,+#Z*44#H&),,&#_$4/#-)*'4(#(.31#*(#B./#*"+#1$4+#*"+#&1,#.(,#$9#9."+*2,"&*4(#
9$)#&)*+'";#+,3'('$"(C#
!HIJ#8KLKNN78LM?#O#P88N?#LL7#%%C?#SPTCTQ
!"#$%&'(#$)*$+,-&)./$0-12-#3&#/
!"#$4#5.&-&6#$78&9#$*)1$:12;-&;2($!129&.3$0-12-#3&#/
!"#$%"#&'()*
!"#!"#$%&'(#$)*$+,-&)./$0-12-#3&#/4$$%&'$"(#&)*+,)#-./#0$1,"#(/(&,2*&'3*44/#%),(5
,"&(#&$+*/6(#78#2$(&#,99,3&':,#(&)*&,;',(#9$)#&)*+'";#$%&'$"(<#1$=#*"+#=1/#&1,/#
=$)>?#=1,"#&1,/6),#*%%)$%)'*&,?#*"+#,@*3&4/#1$=#&$#.(,#,*31#$",A(&,%#B/#(&,%C#
D1,#$"4/#3$2%),1,"(':,#),9,),"3,#$9#'&(#>'"+?#&1'(#B$$>#='44#1,4%#/$.#'+,"&'9/#*"+#
'2%4,2,"&# &1,# $%&'2*4# (&)*&,;/# 9$)# ,:,)/# $%%$)&."'&/?# &)*+'";# ,":')$"2,"&?# *"+#
;$*4C#!&6(#%)*3&'3*4#9)$2#(&*)&#&$#E"'(1<#2$+.4*)?#,*(/#&$#"*:';*&,?#*"+#&1$)$.;14/#
3)$((5),9,),"3,+?#($#/$.#3*"#E"+#=1*&#/$.#",,+#9*(&?#*"+#*3&#B,9$),#/$.)#$%5
%$)&."'&/#+'(*%%,*)(C#0$1,"#(/(&,2*&'3*44/# 3$:,)(#*44# E:,#>,/#*),*(# $9#$%&'$"(#
(&)*&,;/<#'"3$2,#(&)*&,;',(?#:$4*&'4'&/#(&)*&,;',(?#('+,=*/(#2*)>,&#(&)*&,;',(?#4,:5
,)*;,+#(&)*&,;',(?#*"+#(/"&1,&'3#(&)*&,;',(C#F:,"#&1,#2$(&#3$2%4,@#&,31"'G.,(#
*),# ,@%4*'",+# ='&1# ."(.)%*((,+# 34*)'&/A2*>'";# &1,2# *33,(('B4,# &$# *"/# &)*+,)#
='&1#,:,"#2$+,(&#$%&'$"(#,@%,)',"3,C#
!HIJ#8KLKMK877N?#O#P88Q?#LRN#%%C?#SNTCTQ

All About Technical Analysis

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

All About Technical Analysis

Uploaded by

Copyright:

Available Formats

)*#+%,(!#'-$,'(7-$"+%,(.

6 )8 )0 )*** +555 +55) +55+

!"#$%&=(Q E,"A$+B2$#"< %'8,C#"<'DC/+%</'@+#2/'QA2#&&%$,+I'6?/'F%A3%L'E,7;,A#$/>

$ !##/ !##1 !### "+++ "++! "++"

!+ !1 "2 ! / !2 "" "1 $ ! "+ "/ * !+ !/ "2 !

!"#$%&'(H ."%15;85$%& +'!"#$%&'(#)+&)'P$8)'A18$00+5"2',/)'E+1-+F'."9D"1$5)G

You might also like