Page 1


    




! (% $.!)*%0(+% (4%*#! ( *#! %%(-!()!  %& !%$#$!*##( $%0)*##%  !"%%(4%*#! ( *#! +%+%" +( +))*3("*+)!)(** (,&( %1-!#!$ /(!% ) )* #*!*



3"**++ !,)# .&**"+/0&010


/ 7(64#)&'4'5'..5%*#(6

I3/A3-2>31=>/?01+,/./<5977/8./8+2</A3<./= =/383==398?8."966/./="378/?/8.313>+6/8)/3>+6 >/<56+<?8.900/8=3@D?./0383/</8?8..+<S,/</38/8,</3 >/898=/8=38/=/66=-2+0> 963>35?8./?<9:N3=-2/88= >3>?>398/82/<D?=>/66/8E

.)"4+!".."06   "+".)!&."(0,.

0+6+#6+80018#6+80 '9')70) 5ME5=ALHMFCL<=K JK;@=AF=FK<A=K=K=JA;@LK:=>AF

<=LKA;@<=J*-!AF<=JME>9F?J=A;@KL=FMF<AFL=F

KANKL=F.LJ9L=?A= AKCMKKAGFK=AL%9@J=F 9:=A?=@L =KME<A=RMCeF>LA?=MKJA;@LMF?<=K*-!AF=AF=E 0E>=D< <9KNGFO9;@K=F<=J&GFCMJJ=FRMF<=AF=J <QF9EAK;@=F FLOA;CDMF?<=J&GEEMFAC9LAGFKL=;@

FGDG?A=F?=HJa?LAKL  AF=JC=FF:9J=K 9LLJ9CLAN=KMF<IM9DALaLKGJA=F

LA=JL=Kd>>=FLDA;@ J=;@LDA;@=K+JG>ADAKL<9>eJ=FL

K;@=A<=F< =J=ALK:=AEFLJALLE=AF=J/aLA?C=AL 9DK"=F=J9D<AJ=CLGJ@9:=A;@MFEAKKN=JKLaF<DA;@ RMEMK<JM;C?=:J9;@LA=OA;@LA?KL=M>?9:= <=JCGEE=F<=F%9@J=OAJ<=KK=AF (AKKAGFMF< -GDD=<=K*-!AEF=M=F<A?AL9D=F5=AL9DL=JCD9J MF<G>>=FKANRM<=>AFA=J=FMF<<9Je:=J=AF=F :J=AL=F&GFK=FKAF"=K=DDK;@9>L +GDALACMF<=MJG

HaAK;@=F$FKLALMLAGF=F@=JRMKL=DD=F 

9>eJKAF<=O=?DA;@C=AL $FFGN9LAGFMF<NGJ 9DD=E<A=!a@A?C=AL=J>GJ<=JDA;@ <=F?=K=LRDA;@ <=>AFA=JL=F^887@F>;5: D75:F>;5:7@G8FD39R=AL?=

EaZ =F?9?A=JLMF<EALDA;C9M><A=KGRA9D=F  <=EGCJ9LAK;@=FMF<CMDLMJ=DD=F=<eJ>FAKK=<=J =NdDC=JMF?O9@JRMF=@E=F

'470&(70-&'4'5'..5%*#(6 X'G4>;5-3>G7S 9DKG<=J)9;@O=AK=AF=KX^887@F>; 5:7@.7DF7ES>eJ"=:e@J=FR9@D=J$FF=FMF<<A= "=K=DDK;@9>L AKL<=J=FLK;@=A<=F<=0FL=JK;@A=< <=K*-!RMHJAN9L=F CGEE=JRA=DD=F+JG?J9EE

9F:A=L=JFMF<RM?D=A;@=AF=@9F<DMF?K9FD=AL=F

<=*JA=FLA=JMF?>eJ<A=+JG<MCLAGF@G;@O=JLA?=J MF<=J>GD?J=A;@=J+JG?J9EE= "=J9<=AF=AF=J 5=ALKA;@J9K;@aF<=JF<=J(=<A=FFMLRMF?AKL<9K =AF=:=KGF<=J=#=J9MK>GJ<=JMF?0E<=F?=K=LRDA

;@=FM>LJ9?MF<K=AF=R9@DJ=A;@=FM>?9:=FKAFF

NGDDRM=J>eDD=F EeKK=F<A=+JG?J9EE=<=K*-!>eJ


<A="=K=DDK;@9>LJ=D=N9FLK=AF <9K@=AZL?=K=@=F  ?=@dJLMF<NGF<=J^>>=FLDA;@C=AL9M;@9F?=FGE

E=FO=J<=F =K@9D:KAF<,M9DALaLMF<,MGL=>eJ <=F*-!C=AF2A<=JKHJM;@

'4 7(64#)#.5 *#0%' =J^887@F>;5: D75:F>;5:7G8FD39:=<=ML=LB=<G;@ E=@J9DK(9JCL9FL=AD= JN=J:AF<=L<=F*-!EAL <=F(=FK;@=FAF^KL=JJ=A;@ 1=JLJ9M=FKOeJ<A?= @8AD?3F;A@ ;>6G@9E MF<"G>FGD3G8FD39 ,@F7D :3>FG@9EAL)AN=9M9KKAF<2=JL= <A=e:=J ,MGL=FMF<"=:e@J=F@AF9MKJ=A;@=FMF<<A= RM?D=A;@1=JH>DA;@LMF?=FMF<0FL=JK;@=A<MF?K

E=JCE9D=<9JKL=DD=F <A=OAJ9M>MFK=J=E2=?AF <A=5MCMF>L9DKR=FLJ9D='=ALOa@JMF?=F9FK=@=F  .=AL=?AFF<=J"=K;@a>LK>e@JMF?KH=JAG<=  @9:=FOAJ:=Oa@JL=,M9DALaLKKL9F<9J<KAF9DD=F *-! (=<A=F=J@9DL=FMF<O=AL=J=FLOA;C=DL 9:=J

9M;@O9@JF=@E:9J=1=JaF<=JMF?=FVNGJ9DD=E AE/1 +JG?J9EEVNGJ?=FGEE=F $E=OMKKL

K=AF <9KKKA;@L:9J=$FFGN9LAGFMF:=<AF?L=J>GJ

<=JDA;@AKL O=FFKA;@<=J*-!O=AL=J@AF9DK EG<=JF=KMF<CJ=9LAN=K'=ALE=<AME>eJ^KL=J

J=A;@:=Oa@J=FOADD 

'*4 '46(E4#..' =J=ALK@=ML=:A=L=L<=J*-!=AFME>9F?J=A;@=K "=K9EL9F?=:GLAF!=JFK=@=F -9<AGMF<$FL=JF=L >eJ<A=?9FR==NdDC=JMF? 9KAKL9M;@AF 5MCMF>LMFK=JIM9DALaLKGJA=FLA=JL=JM>LJ9?  0FK=JF?=:GLAKL<9:=ACD9J =J*-!AKL9M;@AE<A?AL9D=F(=<A=FR=AL9DL=J<=J )G@68G@=67D7E7>>E5:38F  KCGEEL<9J9M>9F  <A=K=#=J9MK>GJ<=JMF?9DK@9F;=RMFMLR=F  .=D:KL:=OMKKL AFALA9LANMF<AFNA=D>9;@=J#AF

KA;@LAF=O=?MF? 

.)"4+!".."06




@1)& )1"> 

I/<R00/8>63-2</-2>63-2/?0><+1./=" /<09<./<>+6>?81?8./38/,/=98./</!?+63>N> .3/=3-2@985977/<D3/66/<985?<</8D?8>/<=-2/3./>E

)1/+0".".$".  1)& )1",*-"0"+66"+0.1*

#65#%*'5)+$6-'+0'0

')<74E%-

&9FaD=>eJB=<= F5MK=@=J$FEAL<A?AL9D=J.9L=DDAL=F9FD9?= %=<=.=CMF<=MKO9@DAF!=JFK=@=F -9<AGMF< $FL=JF=L &GFCMJJ=FRMF<2=LL:=O=J:9DKLa?DA;@=.=D:KLN=JKLaF<DA;@C=AL AF9CLM=DD=JDA;C9M><A=.ALM9LAGF <=J9M<AGNAKM=DD=F(=<A=FAF MJGH9R=A?L=Jd>>=FLDA;@ J=;@LDA;@=-MF<>MFCAKL?=>GJ<=JL A=5=AL=FG@F= &GFCMJJ=FR EAL9MKJ=A;@=F<=J!AF9FRA=JMF? 9DK(GFGHGDAF!=JFK=@=FMF<-9<AGKAF<MFO=A?=JDA;@NGJ:=A  2=J?D9M:L EAL JAFF=JMF?<9J9F:=J=ALKF=M=2=?=MF<'dKMF?=F9FRM:A=L=F AJJL 9KF=M=<A?AL9D=(=<A=F

R=AL9DL=J@9LDaF?KLEALF=M=F#=J9MK>GJ<=JMF?=FMF<F=M=F@9F;=F:=?GFF=F /9LK9;@=AKL9M;@0FK=J=2=DLAKLNGDD=J+JG:D=E= KGRA9D=J0F?D=A;@@=ALMF<G>>=F=J!J9?=F <A=9DD=:=LJ=>>=F B=<= F AFR=DF= FMF<<A="=K=DDK;@9>L "DG:9DAKA=JMF? (A?J9LAGF !AF9FRCJAK=MF<NA=D>aDLA?=0FKA;@=J@=AL=F MF<\F?KL=E9;@=F<=MLDA;@.GRA9D=1=J9FLOGJLMF? M>E=JCK9EC=AL>eJ?=K=DDK;@9>LDA;@=5MK9EE=F@aF?= MF<,M9DALaLAF$F>GJE9LAGFMF<0FL=J@9DLMF?KAF<E=@J9DKB=E9DKRMNGJ?=>J9?L (=FK;@=FKAF<FA;@LFMJ C9M>CJa>LA?=&GFKME=FL$FF=F KGF<=JF(AL:eJ?=J$FF=F .L99LK:eJ?=J$FF=F (ALE=FK;@=F +JAN9L=(=<A=F N=JC9M>=FA@J=+JG<MCL= ^>>=FLDA;@ J=;@LDA;@=-MF<>MFC9FKL9DL=FKAF<<=J"=K=DDK;@9>LN=JH>DA;@L=LMF<@9:=F <9@=J=AF=:=KGF<=J=!MFCLAGFAF<=Jd>>=FLDA;@=F&GEEMFAC9LAGF

'4#75(14&'470)7#.+6C6*#6'+0'04'+5 ,M9DALaLAF<=F(=<A=FOAJ<AEE=JE=@JRME.LJ=AL>9DD2=DLO=ALAKL=AF@9JLFa;CA?=J1=JL=ADMF?K MF<(9;@L

C9EH>9E(=<A=FE9JCLAE"9F? 9:=A?=@L=KME(9JCL9FL=AD=MF<"=K;@a>LKEG<=DD= ME(ADDA9J<=F?=OAF

F=G<=J N=JDMKL= *:3D7:A>67D-3>G7KL=@L@aM>A?AF<AJ=CL=E"=?=FK9LRRM"=E=AFOG@DAFL=J=KK= 9DKG 'G4>;5-3>G7 !eJ<=F*-!AKLCD9J$F>GJE9LAGFMF<0FL=J@9DLMF?KAF<E=@J9DKFMJE9JCL>a@A?=+JG<MCL=  9RMCGEEL&GFCMJJ=FR:=<=ML=LFA;@LFMJFKHGJF KGF<=JF9M;@1=JDMKL%a@JDA;@>DA=Z=F(ADDAGF=F9F2=J:=

?=D<=JF9F<=MLK;@=+JAN9LK=F<=J "=D< <9K<=E*-!>=@DL O=FF=K<9JME?=@L K=AF=F?=K=LRDA;@=FM>LJ9?RM =J>eDD=F =J*-!AKL<9@=JRMaMZ=JKL=J.H9JK9EC=AL9M>?=JM>=F .LA>LMF?KJ9L +GDALACMF<^>>=FLDA;@C=ALN=JD9F?=F =AF=FOAJLK;@9>LDA;@=F&MJK <=JO=FA?=J+=JKGF9DMF<=JC=FF:9J=&eJRMF?=FAF<=FM<?=LK:=<=ML=L 




"D=A;@R=ALA?KGDD<=J*-!:=Oa@JL=,M9DALaLKKL9F<9J<K?9J9FLA=J=FMF<EAL<=F FLOA;CDMF?=FAF<=FF=M=F &GEEMFAC9LAGFKL=;@FGDG?A=FEAL@9DL=F  M;@+GDALACMF<^>>=FLDA;@C=ALKL=DD=F!GJ<=JMF?=FMF<CD9J=!J9?=F29KAKL@=ML=FG;@d>>=FLDA;@ J=;@LDA;@ 2=D;@=F2=JLMF<)MLR=F@9:=F?=:e@J=F>AF9FRA=JL=-MF<>MFCMFL=JF=@E=F2G<MJ;@MFL=JK;@=A<=FKA;@ d>>=FLDA;@ J=;@LDA;@=+JG?J9EE9F:A=L=JNGFA@J=JHJAN9L=F&GFCMJJ=FR ,MGL=FMF<(9JCL9FL=AD=?=:=FC=AF=9MKJ=A;@=F<=FLOGJL<9J9M> =J2=JL<=K?=:e@J=F>AF9FRA=JL=F-MF<

>MFCKAKLFA;@L:dJK=FFGLA=JL .=AF)MLR=F=J>eDDLKA;@FA;@L9DK/Ja?=JNGF2=J:=:GLK;@9>L=F A=MK=AF9F<=J

K=LRMF?ME<A=,M9DALaLAF<=F(=<A=F O=EKA=FeLRLMF<O9KKA=CGKL=L OAJ<AEE=JOA;@LA?=J 

0)'$16

&1-7/'06+'4'0746'+.'0

=@9MHLMF?=FMF<FCeF<A?MF?=FKAF<AF=AF=J(=<A=FO=DLEAL=PHDG<A=J=F<=EF?=:GLKC9L9DG?FA;@L?=FM? =K@9D:AKL=KFGLO=F<A? <9KK<=J*-!<A=$FALA9LAN==J?J=A>L X'G4>;5-3>G7S 9DKGX^887@F>;5:7D.7DFS AKL=AF =?JA>> <=F<A=>eJ<A=2=DL<=Jd>>=FLDA;@ J=;@LDA;@=F+JG?J9EE9F:A=L=J?=HJa?L@9LMF<RMEMK<JM;C :JAF?L"=:e@J=F>AF9FRA=JL=J-MF<>MFCAKL/=AD<=J"=K=DDK;@9>L .=AF=+JG?J9EE=MF<CLANALaL=FD=AKL=F=AF=F O=K=FLDA;@=F/=ADRMJ=EGCJ9LA= FLOA;CDMF?MF<RMJd>>=FLDA;@=F&GEEMFAC9LAGFKIM9DALaL  AFD=AKLMF?KKL9J

C=J*-!AKL<9@=JOA;@LA?=J<=FFB=O=FF=JK=AF=M>?9:=F=F?9?A=JLMF<NGJ9DD=EF9;@O=AK:9J=J>eDDL  !eJ<=F*-!:=<=ML=L=*41+%)4=- ǯ    

(LQ]HLWJHUHFKWHVJ..-6<41+0:-+0<41+0-;:7.14=FLOA;C=DF,@34:[@9;9=7;F"G>FGD3G8FD39;>6G@9E3G8  FD39*F3@63D6E;@67D,@F7D:3>FG@9<A=AE&) 7E7FL<=>AFA=JL=FG8FD[97KAF<FKHJe;@= <A=AEE=J OA=<=JAE&GFL=PL<=J9CLM=DD=F?=K=DDK;@9>LDA;@=F=<AF?MF?=F9CR=FLMA=JLO=J<=FEeKK=F ,M9DALaLAF $F>GJE9LAGFMF<0FL=J@9DLMF?KAF<<9:=ALJGLR2=LL:=O=J:K<JM;CKMF<.H9JCMJK=K=AF=N=J:AF<DA;@= MF<CGFLJGDDA=J:9J=.=D:KLN=JH>DA;@LMF?<=K*-!

ǯ    

-0:&-:<<GCME=FLA=J=F,MGL=FMF<(9JCL9FL=AD=J=A;@=FFA;@L9MK ME,M9DALaLRME=KK=F "=:e@J=FR9@D=J$FF=FOGDD=FOAKK=F O9K2=JLMF<)MLR=F<=J+JG<MCL=MF<CLANALaL=F<=K*-!KAF<  ^>>=FLDA;@ J=;@LDA;@=(=<A=FHJG<MCLAGF:J9M;@L&JAL=JA=FMF<&9L=?GJA=F <A=<=F0FL=JK;@A=<RMJ  HJAN9L=F&GFCMJJ=FR<=MLDA;@E9;@=F 9@=JAKL<=J)9;@O=AK=AF=K=>>ARA=FL=F.7DF7?3@397?7@FE =J>GJ<=JDA;@ 

ǯ   

G..-6<41+0-6=.<:)/D=:=F<A??=KL9DL=F'G4>;5-3>G7AKL?=J9<=AF=AF=J5=AL AF<=J?=K=DDK;@9>LDA;@= 1=J9FLOGJLMF?=JF=ML?=>GJ<=JLAKL =AF=@9F;=MF<C=AF=eJ<= =J&GFL9CL <A=1=J:AF<MF?<=K*-! EAL<=J"=K=DDK;@9>LMF<<=JCJALAK;@=A9DG?EAL<=E+M:DACMEKAF<1GJ9MKK=LRMF?=F>eJ<=F J>GD?  =JFKHJM;@<9:=A-=>GJE MF<$FFGN9LAGFK>a@A?C=AL CJ=9LAN=K"=KL9DL=FKL9LL<=>=FKAN=K1=JL=A<A?=F

=Jd>>=FLDA;@ J=;@LDA;@=M>LJ9?<=K*-!=J>GJ<=JL#9DLMF?MF<=AF=:=KGF<=J=,M9DALaL <A=KA;@NGFCGEE=JRA

=DD=J&GFCMJJ=FRMFL=JK;@=A<=L *:<A=FKLJ=F?MF?=F<9>eJ?=Fe?=F G:KA=?ML?=FM?KAF<MF<FA;@LRMD=LRL  O9K>=@DL9KAKL<=J(=AFMF?<=J^>>=FLDA;@C=ALV<=E+M:DACMEVe:=JD9KK=F  (AL<=ENGJDA=?=F<=F=JA;@L?=:=FOAJ=AF=ME>9F?J=A;@="JMF<D9?=>eJ$@J0JL=AD 

'4 7(64#))+.6 '406'45%*+'&<C*.6 )1/+0".".$".




'470&5'+0 7(64#) =JNGJDA=?=F<='G4>;5-3>G7 =JA;@L:=K;@J=A:L<=F0E>9F?MF<<A=,M9DALaL<=J J>eDDMF?<=Kd>>=FLDA;@  J=;@LDA;@=FM>LJ9?K<MJ;@<=F*-!  $F>eF>,M9DALaLK<AE=FKAGF=FMF<&9L=?GJA=FO=J<=F2=JLMF<)MLR=F<=J*-! '=AKLMF?=F<GCME=FLA=JL  !eJ=AFR=DF=(=<A=FFMLR=J$FF=F >eJ<A="=K=DDK;@9>L >eJ^KL=JJ=A;@AEF9LAGF9D=FMF<AFL=JF9LAGF9D=F&GF

L=PLMF<FA;@LRMD=LRL9DK0FL=JF=@E=FKO=JL 9EALO=J<=F,M9DALaLKE=JCE9D=<=>AFA=JL <A=RMEMK<JM;C :JAF?=F O9K<=F*-!NGFK=AF=F&GFCMJJ=FL$FF=FAE9M<AGNAKM=DD=F=J=A;@MFL=JK;@=A<=L ǯ 

%-:<:)=-69DK2=JL <=JKA;@<MJ;@ME>9KK=F<= RMN=JDaKKA?= ?D9M:OeJ<A?=MF< MF9:@aF?A?==JA;@L=JKL9LLMF?=J?A:L

ǯ

%1-4.)4<9DK2=JL>eJ=AF=G>>=F="=K=DDK;@9>L <A=FA;@LFMJC9M>CJa>LA?=2=J:=RA=D?JMHH=FC=FFL

ǯ

"-:>1+-9DK2=JLMF<MFEALL=D:9J=J)MLR=FRMJ9DDLa?DA;@=F'=:=FK:=OaDLA?MF?

ǯ 

:1-6<1-:=6/9DK2=JL>eJ(=<A=FFMLR=J$FF=F MEKA;@AF=AF=JMFe:=JK;@9M:9J=F(=F?=9F$F>GJE9LAGF RMJ=;@LRM>AF<=F

ǯ

$6<-:0)4<=6/ <A=.L9F<9J<K -A;@LDAFA=FMF<,M9DALaLK9FKHJe;@=C=FFL

ǯ 

HLQ=4<=:)=.<:)/ <=JO=ALe:=J<A=!J9?=FCGEE=JRA=DD=J1=JO=JL:9JC=ALMF<2=J:=OAJCK9EC=AL @AF9MKJ=A;@L

ǯ

6<-/:)<176MF<K:/-:6I0-9DK2=JL= <A=?=K=DDK;@9>LDA;@==L=ADA?MF?>dJ<=JF

ǯ

&1;;-6K MF<14,=6/K9F?=:GL= <A=9DD=FRM?aF?DA;@KAF<

ǯ 

,QIRUPDWLRQXQG8QWHUKDOWXQJGLHVLFKHUVWHOOHQGDVVGLH6<-:-;;-6,-:I6,-:MF<-=?AGF=F O9@J?=FGEE=FO=J<=FKGOA=J;<-::-1+01;+0-&-:<;+0J8.=6/=JEd?DA;@LOAJ<

ǯ

(LQLQWHUQDWLRQDOHU:HUWGHUÂ&#x2DC;VWHUUHLFKPLW=:78)MF<<=J&-4<N=J:AF<=L

ǯ

8QWHUQHKPHQVZHUWHGLH#:)6;8):-6B 667>)<176MF<758-<-6BKA;@L:9JE9;@=F

MF<FA;@LRMD=LRL ǯ 

%-:)6<?7:<=6/9DK2=JL>eJ=AF=KGDA<9JAK;@="=K=DDK;@9>L AF<=JB=F= <A=AE.;@9LL=F<=JM>E=JC  K9EC=ALKL=@=F 9M;@?=K=@=F ?=@dJLMF<O9@J?=FGEE=FO=J<=FVAE=<9J>K>9DD9M;@#AD>==J@9DL=F 

&-:<K*-:-*K0:AKL<=J=JKL==JA;@L<A=K=JJL  J<GCME=FLA=JL9F@9F<9MK?=Oa@DL=J=AKHA=D=MF<+JG

?J9EE@d@=HMFCL=<9K'=AKLMF?KKH=CLJME<=K*-!9:  2A=AEF=M=F,M9DALaLKKA;@=JMF?KKQKL=E<=K *-!AE(aJR :=K;@DGKK=F =J>GD?LCeF>LA?Ba@JDA;@=AF'G4>;5-3>G7 =JA;@L =J=JA;@LKL=AD>eJ<9KD9M

>=F<=%9@J >GD?L =J*-!CGEELEAL<A=K=J'=AKLMF?K<GCME=FL9LAGF=AF=J@aM>A??=KL=DDL=F!GJ<=JMF? F9;@ K=AF="=E=AFOG@DGJA=FLA=JMF?=FLKHJ=;@=F<9MKRMO=AK=F )=:=FR9@DJ=A;@=F=AKHA=D=F9MK<=J+JG

?J9EEHJG<MCLAGFMF<<=FNA=D>aDLA?=FCLANALaL=F<=K*-!>AF<=FKA;@AF<=ENGJDA=?=F<=F=JA;@L =ALJa?= NGF*-! (AL9J:=AL=J$FF=F .A=?=:=F<9JAF AF:DA;CAFA@J=J:=ALKO=DLMF<E9;@=F<=MLDA;@ <9KKd>>=FLDA;@=J2=JL  9DKGX'G4>;5-3>G7S <MJ;@<A=&GEH=L=FR<=J(=FK;@=F=FLKL=@L <A=/9?>eJ/9?B=F=+JG<MCL==FLOA;C=DFMF< HJG<MRA=J=F <A=<9K+M:DACMEAELa?DA;@=F1=J?D=A;@CJALAK;@:=O=JL=L  =JNGJDA=?=F<==JA;@LME>9KKL9DD=*-! (=<A=F!=JFK=@=F -9<AGMF<$FL=JF=L A=&) #3@67EEFG6;AE ?=:=FAF=AF=E=A?=F=F'G4>;5-3>G7 '=AKLMF?K:=JA;@LMKCMF>Le:=JA@J=d>>=FLDA;@ J=;@LDA;@= &GEH=L=FRMF<+JG<MCLIM9DALaL




 !

1GJOGJL$EM>LJ9?<=J"=K=DDK;@9>L     J D=P9F<=J2J9:=LR *-! "=F=J9D<AJ=CLGJ







2-0(X+M:DA;19DM=S       &D9MK0FL=J:=J?=J *-! +M:DA;19DM=&GEH=L=FRR=FLJME







=J*-!MF<K=AFM>LJ9?

















%$!&!#













      

%!#!$         JEAF2GD> 5A       29DLJ9M<'9F?=J *-!$F>GJE9LAGF     =LLAF9-GAL@=J HH *-! -9<AGAF>GJE9LAGF    &9JD+9;@F=J *-!*FDAF=MF</=D=L=PL"E:#G&"  !JALR2=F<D 1GJKALR=F<=J*-! -=<9CL=MJKJ9L    #9FK#M:=J *-! /1.HGJL    

      

    

"!%         <OAF(dK=J &GFCJ=L       -A;9J<9-=AFAK;@ *-! "=KMF<@=ALKCGEH=L=FRR=FLJME  (A;@9=D9AJC9 V-9L9M>J9@L   

   



     

$#!#$       .9F<J92AFCD=J *-! /1&9:9J=LLMF<GE=<Q  &D9MK'AFLK;@AF?=J *-! !=JFK=@>ADE    <?9Jd@E *-! /10FL=J@9DLMF?    .ADNA9'9@F=J ^!=9LMJ=MF<!=MADD=LGF   "=GJ?.H9LL ^ .=F<=J;@=>   

     

         

    

&""          29DL=J&d@D=J 0FAN=JKME       (9JLAF=JF@G>=J *-! #dJ>MFC 2AKK=F AD<MF? "=K=DDK;@9>L  "eFL=J#9;C >MLMJ=RGF= *-! 9L      /@GE9KJ=RAF9 *-! /1&AF<=JHJG?J9EE=  



    

   

%!#&!#$       %dJ?-MEAF9C *-! #ME9FAL9JA9FJG9<;9KLAF?  #9FF=K(aJC *-! #dJ:=@AF<=JL=FK=JNA;=   D:=JL(9DDA ^    



   







     

   

   



 

           


""#"&!#























    





      

%#        2GD>?9F?'GJ=FR /1 +JG?J9EE<AJ=CLGJ  &9JD@=AFR+9HKL '9F<=K<AJ=CLGJ*-!MJ?=FD9F<  "=J@9J<&D=AF *-! /1-=DA?AGF    -9AF=J-GK=F:=J? *-! #dJ>MFC .H=RA9DHJG?J9EE=  'GJ=FR"9DDE=LR=J '0     (9JLAFDME=F9M !(   

    



     

!#!$         %G@9FF=K!AK;@=J *-! /1(9?9RAF=MF<.=JNA;=K=F<MF?=F   -G:=JL.LGHH9;@=J *-! /1+9JD9E=FLKK=F<MF?=F    JF=KL#9M=J ^%GMJF9D +9FGJ9E9      !J9FR#D9N9; ;G        AJ?AL&G@DE9A=J .;@9;@L *-! &GFKMD=FLAF>eJ)9;@@9DLA?C=AL



   

#!#        .ADN9F9(=APF=J *-! /1(AF<=J@=AL=FJ=<9CLAGF  2ADDA#9KDALR=J '9F<=K<AJ=CLGJ*-!&aJFL=F   0DJAC=2eKL=F@9?=F ^&GGJ<AF9LAGF 

   

   

    

   

H!!F        +=L=J-=K=L9JALK .;@9MHD9LR"=JA;@L eJ?=J9FO9DL  JA?ALL=2GD> '9F<=K<AJ=CLGJAF*-!2A=F   @JAKLA9F="GDD=J *-!-9<AG&MDLMJ@9MK 

   

   

   

     

$#$!$#!       (9JLAF/J9PD *-! /1&MDLMJ     +=L=J&D=AF ^'AL=J9LMJ #dJKHA=DMF<!=9LMJ=  (9J?ALRdHH9F *-!K9L     .A=?:=JL.LJGF=??=J '9F<=K<AJ=CLGJ*-!.9DR:MJ?  @JAKLA9F.;@=A: ^(MKAC   

     

     





               

     




 !

G"#!!&!#



















     

##F#        F<J=9K)GN9C *-! /15=AL?=K;@A;@L=   2ADDQ(ALK;@= *-! #dJ>MFC<AJ=CLGJ    @JAKLGH@/9C9;K #=ML=AF^KL=JJ=A;@   .=HH!GJ;@=J &DAF?=F<=K^KL=JJ=A;@    +=L=JMK=C *-! /1GCME=FL9LAGFMF<J;@AN=

     

     

     

     

     

  

&!#"G$      #=AFJA;@(AK *-! !=JFK=@>ADE   #9A<=-MKK /=FF=J ^&D9KKAC/J=>>HMFCL

  

  

  

  

  

     

G!"$"        "=J@9J<J9PD=J '9F<=K<AJ=CLGJ*-!.L=A=JE9JC   #=DEML*:=JE9QJ '9F<=K<AJ=CLGJ*-!*:=JdKL=JJ=A;@  &MJL-9EE=JKLGJ>=J '9F<=K<AJ=CLGJ*-!/AJGD   )GJ:=JL"GDDAF?=J '9F<=K<AJ=CLGJ*-!)A=<=JdKL=JJ=A;@  2GD>?9F?MJLK;@=J '9F<=K<AJ=CLGJ*-!1GJ9JD:=J? 

     

     

     

     









#!#!&!# 











  



     

$!#!#      -9AEMF<'dO *-! &GJJ=KHGF<=FLJeKK=D   JA?ALL=.L9;CD !M;@K ^ MJGH9 %GMJF9D   -=AF@9J<.;GDAC *-! +D9FMF?MF<&GGJ<AF9LAGF  %GK=>'MKK=J  0 =9M>LJ9?L=J<=K*-! 

    

    



    

    

!"#%      GJF=DA91GKH=JFAC *-! &GJJ=KHGF<=FLAF+=CAF?  !J9FR&dKKD=J 2=DLBGMJF9D     F<J=9K+>=A>=J *-! /1CLM=DD=JA=FKL MKD9F<  #9JLEML!A=<D=J *-! #dJ>MFC MZ=FHGDALAC 

    

    



    


$#!"&!#



















       

%#          +=L=J.;@d:=J *-!5=FLJ9D=+JG?J9EE<A=FKL=    !J9FR(9FGD9 *-!GJHGJ9L==KA?F MF<+D9LL>GJEE9F9?=E=FL  /1 +JG?J9EEJ=>GJE        +=L=J(GGKE9FF /=;@FAK;@=JAJ=CLGJ     (A;@9=D29?=F@G>=J "=K;@a>LK>e@J=J*-.     /@GE9K+J9FLF=J AJ=CLGJ*FDAF=MF<F=M=(=<A=F    D>J=</J=A:=J ^+JG?J9EE;@=>    

       

       

          

     

#!"!(        +AMK.LJG:D *-! (9JC=LAF?MF<&GEEMFAC9LAGF   D=E=FK&GH=LRCQ ^(9JC=LAF?     =LLAF9+9JK;@9DC *-! &MF<=F<A=FKL    @JAKLAF=.;@Fd<D *-!F9;@D=K=     2GD>?9F?29?F=J +JGB=CLAFALA9LGJX5AE9;@L.;@MD=S

     

     

     

     

       

#(        #=<OA?5=@=LF=J *-! (9JCL MF<(=<A=F>GJK;@MF?  .A?JA<.NAL=C *-! -9<AG>GJK;@MF?    2GD>?9F?!AK;@=J *-!#ME9F-=KGMJ;=K   %eJ?=F(=F=<=LL=J "=K;@a>LK>e@J=J"$.   "=J@9J<(GK=J *-! 5=FLJ9D:=LJA=:KJ9LKG:E9FF  .AKKQ(9Q=J@G>>=J &9M>EaFFAK;@=AJ=CLGJAF      

      

      

      

      

      











.;@DMKKOGJL *-!AF=O=?MF?

















GK//.7=52,1.; >7-/>742<=.27.O//.7=52,1.70.5.0.71.2=%2;6O0.7 21727-2?2->.55@*1;7.16.7*+.;.;2<=72.6*5<.27.;.27.;2?*=<*,1. 27.;7<.10.;N=8-.;.27 *-28*7C><=.55.7+.-.>=.=.27.7O//.7=52 ,1.7 *>6C>+.=;.=.72.-*->;,1.;5.+=.0.6.27<*6.;/*1;>70 <=.55=>+52,$*5>.)-*;>7-.;02+=.27.72==-.;.<.55<,1*/=)-.7 6*7*>,1!8C2*54*92=*57.77.74*77D   G>25-2709>+52,?*5>.D




     !eJ<=F*-!?ADL0FK=J+M:DACMEN=JK;@OAF<=LFA;@L@AFL=J,MGL=FMF<(9JCL9FL=AD=F %=<= J AFR=DF= N=JD9F?L=AF='=AKLMF? <A=A@J:RO A@EFeLRL @8AD?3F;A@ <=JE9FN=JLJ9M=FC9FF ,@F7D:3>FG@9 <A= ,M9DALaLK9FKHJe;@=C=FFL ;>6G@9E3@974AF7 <A=.;EE7@K;@9>>=F 'DA9D3??78_D";@67D <A=?=O9DL

>J=AKAF<MF<<=F#GJARGFL=JO=AL=JF *7DH;57 <=JAEDDL9?@AD>L ,@F7DEF_FLG@9 <A=OAJCLV:=A=@AF<=

JMF?MF<AF)GL>aDD=F ^>>=FLDA;@ J=;@LDA;@=J-MF<>MFC:=<=ML=L$F>GJE9LAGFKGDDB=<= JN=JKL=@=FCdFF=F DD==JJ=A;@=F  "ML=J-9L<9J>FA;@LL=M=JK=AF 0FL=J@9DLMF?AKLC=AF!9KKG@F=AFL=DD=CLM=DD=FG<=F  .GDA<9JALaLAKLC=AF!J=E<OGJL "=J9<=O=AD<A=0FL=JK;@A=<=RM<=FHJAN9L=FCGEE=JRA=DD=F+JG?J9EE9F:A=L=JFRa@D=F  Ra@DL9M;@<A=!J9?= M>O=D;@=.L9F<9J<KMF<,M9DALaLKE=JCE9D=C9FFKA;@<A= <=J=AFR=DF= (=<A=FCGFKME=FL$FN=JD9KK=F 




%!#!$ "!% $#!#$ &"" %!#&!#$




=.<:)/ 



-1;<=6/    

  

  

  

  

9CLM=DD=$F>GJE9LAGF

ME>9KK=F<==JA;@L=JKL9LLMF?  MF9:@aF?A?NGF+9JL=A=F  OAJLK;@9>LDA;@=FMF<9F<=J=F'G::QK   >9CL=FLJ=M N=JKLaF<DA;@MF<CGEH=L=FL

-0:?-:< %!#!$ .K:-,1-66=<B-:66-6

G&>66.-2*5.7.>,1==>;6@2;-6*7.;<=-*77@.776*7<=;*15=@.77.4*77= 1.2=>7-6*0.<=266.7@.77*+.;?8;*55.6-2.>*52=N=.7-.;>=C.7/P;-.7 27C.57.7-2..<.55<,1*/=P+.;C.>0.7%.;>7<?.;=;*>=@255<2,1*>/-2.>*52=N= >7--.7>=C.7>7<.;.<70.+8=<*>/*55.727-2?2->.550.@P7<,1=.75*==/8;6.7 ?.;5*<<.74O77.7D *;4><!,1N,1=.;&




^>>=FLDA;@ J=;@LDA;@=J-MF<>MFC@9L=JCDaJL= e:=JHJe>:9J= .L9F<9J<KMF<-A;@LDAFA=F MEKA;@=JRMKL=DD=F *-! =JA;@L=JKL9LLMF?AKL$F>GJE9LAGF <=JE9FN=JLJ9M=F C9FF =J*-!:=JA;@L=L9MK<=J?9FR=F2=DL 9MK?9FR ^KL=JJ=A;@ .LMF<=F9E/9? AE1=J:MF<EAL<=FN=J

DaKKDA;@KL=F)9;@JA;@L=FIM=DD=F 0F9:@aF?A?C=ALAKLKG NA=DO=JLOA=<A=&GEH=L=FRMF<<9K.=D:KLN=JLJ9M=F B=F=J <A=KA=K;@eLR=F *-! %GMJF9DAKL$FF=F?9J9FLA=J=F RMN=JDaKKA?=$F>GJE9LAGF&=AFD9F?=JJE<=J+9JL=A=F =JJ=A;@L<=F)=OKJGGE )9;@JA;@L=FO=J<=F9M;@>eJ&AF

<=JMF<%M?=F<DA;@=9F?=:GL=FCD9JMF<N=JKLaF<DA;@  AF ,M9DALaLK +9;C9?= <9KE9FCGFLJGDDA=J=FMF<=AF>GJ<=JF C9FFAF!=JFK=@=F #dJ>MFC *FDAF=MF</ ' / 3/

:)3<1;+0-:=<B-6 

AF2=JL>eJ9DD= <A=<=J$F>GJE9LAGF<A=KA=@dJ=F  K=@=FMF<D=K=F 9M;@N=JLJ9M=FOGDD=F




#5D(('06.+%*4'%*6.+%*'41740#.+5/75 .'+56'0-#0070&51..

I8=>N8.311/7+-2>/<R00/8>63-2</-2>63-2/< 9?<8+63=7?=5+88=9/>A+=A3//38/?-2>>?<7 =/3838/38/7?8S,/<=-2+?,+</8//<+8 809<7+>398?8.%8>/<2+6>?81'3<,/7S2/8 ?8=4/./8$+1E

.*&+,)# &

 (AFML=FLa?DA;@ 9DKG NGF.LMF<=FVE=@J 9DK<A=#aD>L=<=J5=AL <A=OAJFA;@LK;@D9>=F.GNA=D 5=AL@9:=FOAJ9DD= AEMJ;@K;@FALLEAL<=E &GFKMENGF(=<A=FRM?=:J9;@LEAL<=F>J=A=EH

>9F?:9J=F!=JFK=@HJG?J9EE=F9DD=AF=e:=J./-  EALJMF<  <=MLK;@KHJ9;@A?=F5=ALMF?=FMF< 5=ALK;@JA>L=F CF9HH F=M=Fe;@=JF EAL -9<AG (+ K 1K 1A<=GK 1A<=GKHA=D=FMF< GEHML=JFMF<AE=F<DGK=FF?=:GL<=K$FL=JF=LK  <9KEALLD=JO=AD=RO=AJALL=D<=J=NdDC=JMF?FeLR=F

)MF>AJEA=JLB9RA=EDA;@NA=D=KMFL=JX%GMJF9DAKEMKS  MF<NA=D=K<9NGFOAJ<?=F9M<A=K=JR=FLJ9D=FM>?9

:=?9FRMF<?9JFA;@L?=J=;@LA=E=AKL=FNGFMFK OAKK=FE=@Je:=J'3D;E;>FA@9DKe:=J<=F$;FF>7D7@ &EF7@ 2AJCGFFL=FD=K=F <9KKMFK<=J-7DFD39HA@ #;EE34A@ROAF?=FOeJ<= <A=/G<=KKLJ9>=AF^KL=J

J=A;@=AFRM>e@J=F 0F<E9F;@=5=ALMF?<JM;CL?9FR =AF>9;@B=<=K"=Je;@LMF<9M;@K=AF"=?=FL=AD ME KHaL=JVMF<?9JFA;@LRM0FJ=;@LVRM:=@9MHL=F  @A=JOaJ==KRM9DD=J=JKLMF<XLGH=PCDMKANS?=KL9F<=F 

X;7E5:@7>>7-7D3D47;FG@97;@7D3>>7E$7@E5:7@?3V EBD7@97@67@ @8AD?3F;A@E?3EE7S E=AFL<=J<=ML

K;@=&GEEMFAC9LAGFKOAKK=FK;@9>L=J)GJ:=JLGDR  K=AX63E9DAV71;H;>;E3F;A@EBDA4>7?SMFK=J=J5=AL  $F=AF=J=AFRA?=FMK?9:=<=J/9?=KR=ALMF?%7I0AD= +;?7EK=AE=@J$F>GJE9LAGF=FL@9DL=F9DK=AF=E(=F

K;@=F<=K %9@J@MF<=JLKAFK=AF=E?=K9EL=F '=:=F:=?=?F=LK=A :=@9MHL=L=<=J9E=JAC9FAK;@= $F>GJE9LAGFK=PH=JL=-A;@9J<2MJE9FK;@GFNGJ CF9HH %9@J=F 

2A=K=@J@aM>A?:=A/J=F<KAF<=J&GEEMFAC9LAGFK

:J9F;@=R=A?L=AFDA;CAF<A=0. OG@AF<A=-=AK= ?=@=FCdFFL= GJLCGFKMEA=J=FAEE=JE=@J(=F

K;@=FFMJE=@J(=<A=F <A=A@J=JHGDALAK;@=FMKJA;@

LMF?F9@=KL=@=F =EGCJ9LA=HGDALAK;@AKL<A=K=.=?

E=FLA=JMF?FA;@LMF:=<=FCDA;@2=FFB=<=FFMJE=@J B=F=(=AFMF?=FAFL=J=KKA=J=F <A==JG@F=@AFK;@GF@9L VOA=KGDD<9=AF?=K=DDK;@9>LDA;@=JAKCMJK=FLKL=@=F

:=JO9K<9NGFEMKKA;@e:=J@9MHLOAKK=F2GJ9M> C9FFA;@EA;@N=JD9KK=F2=D;@=J,M=DD=C9FFA;@N=J

LJ9M=FA=FLOGJL=F<9J9M>O=J<=FMEKGOA;@LA?=J  B=MFe:=JK;@9M:9J=J<A=$F>GJE9LAGFK>DMLOAJ< <A= La?DA;@e:=JMFK@=J=AF:JA;@L 5M:=OaDLA?=FAKLKA= FMJ AF<=EE9F9MKOa@DL 0F<?=F9M<9KAKL<A=R=FL

J9D=M>?9:=NGF%GMJF9DAKEMKV9MKRMOa@D=FMF<RM MFL=JK;@=A<=F2A;@LA?=KNGF0FOA;@LA?=E 29@J=K NGF!9DK;@=E .AFFNGF0FKAFF 



0F<FG;@=LO9KR=A?LKA;@AF<=F0.9DD=?JGZ=F (=<A=FMFL=JF=@E=FKH9J=F KH9J=FMF<KH9J=F  A=?JGZ=F/9?=KR=ALMF?=FCeF<A?=F<A=K=K%9@J:AK RM=AF=E1A=JL=DA@J=J%GMJF9DAKL=F <A=!=JFK=@KL9LAG

F=FK;@DA=Z=FA@J=MKD9F<K:eJGK $FL=JF=L -=<9C

L=MJ$FF=FO=J<=FFMJE=@JF9;@<=FX&DA;CKS :=R9@DL <A=A@J=.LGJQK:JAF?=F 9K?JGZ=.H9J=F ?=@LKGO=AL <9KKJ=A;@=E=JAC9F=J$FF=FEALLD=J

O=AD=?=E=AFFeLRA?=.LA>LMF?=F?JeF<=F <A=-=;@=J

;@=F>eJ?JGZ=AFN=KLA?9LAN="=K;@A;@L=F>AF9FRA=J=F R  III BDABG4>;53 AD9 O=ADHJG>=KKAGF=DD= (=<A=FMFL=JF=@E=FKA;@<9KAEE=JO=FA?=JD=AKL=F OGDD=F 


   ='464#7'0 M;@AF^KL=JJ=A;@O=J<=F<A=VG@F=@AFOAFRA?=FV -=<9CLAGF=FAEE=JCD=AF=J :=CGEE=F9:=JAEE=J E=@JRMLMF)A;@LE=@JFMJ<A=5=ALMF?G<=J<A=.=F

<MF?EeKK=F?=>eDDLO=J<=F KGF<=JF9M;@<=J$FL=J

F=L M>LJALL <=JF9LeJDA;@KL=LKLGH9CLM=DDMF<K;@F=D

D=J9DK<A=&GFCMJJ=FRK=AFKGDD 29K:D=A:L AKLFG;@ O=FA?=J5=ALRMJ=;@=J;@A=J=F 9DKG$F>GJE9LAGF=FRM K9EE=DF RM:=O=JL=FMF<<=J2AJCDA;@C=AL9M><=F "JMF<RM?=@=F  M;@O=FF=KAE5=AL9DL=J9DD?=?=FOaJLA?=JA?AL9DA

KA=JMF? ^CGFGEAKA=JMF?MF<+JAN9LAKA=JMF?9DLEG

<AK;@CDAF?L^>>=FLDA;@ J=;@LDA;@=(=<A=FO9J=FNA=D

D=A;@LFG;@FA=KGOA;@LA?OA=@=ML= 2=ADA@J=G:=JKL= (9PAE=FA;@L<A=+JG>ALE9PAEA=JMF?AKL <A=Ed?

DA;@KL:ADDA?=XGFL=FLS +JG<MCLAGF>eJE9PAE9D= -=A;@O=AL=F .GF<=JF=AF=O9@J@=ALK?=LJ=M= >9AJ=  MFH9JL=AAK;@=9:=JKL=LK9M;@CJALAK;@=MF<NGJ9DD=E RMN=JDaKKA?=FFa@=JMF?9F<A=2AJCDA;@C=AL  :=F )9;@JA;@L=F 9M><A=E9FKA;@N=JD9KK=FC9FF X.;D IA>>7@G@E7D'G4>;=G?6347;G@F7DEF_FL7@CG3>;8;L;7D F7D3?^887@F>;5:7@;E=GDEF7;>LG@7:?7@S KG@9L<9K <A=?JGZ==AFE9D>eJKA;@<=>AFA=JL X,@697@3G 638_DE;@6I;D63S 

+0S<,<+?-2>/=/3831/&9<+?==/>D?81/8 ǯ9RUDOOHPQDW¾UOLFKHQJDJLHUWH7=:6)41;<66-6EAL &GEH=L=FR 0JL=ADKN=JEd?=FMF<CJALAK;@=JAKL9FR X$7@E5:7@?;F*7@6G@9E47IGEEFE7;@97:^D7@;@6;7 *7@67F75:@;=@;5:F;@6;7)763=F;A@S @9L-G:=JL #G;@F=JE9D?=K9?L 

ǯ(VEUDXFKWDXFK-4, !=JFK=@BGMJF9DAKEMKAKL L=M=J O=ADE=@JFdLA?AKL9DK=AF =-=<9CL=MJ$F =AF /=D=>GFMF<=AFGEHML=J ME=AF="=K;@A;@L=>=JLA? RMKL=DD=F :=JX;7X887@F>;5: )75:F>;5:7@4D3G5:7@ 7>6G?'DA9D3??LG?35:7@ ;7'D;H3F7@4D3G 5:7@'DA9D3??G?7>6LG?35:7@ S"=J<9;@=J ǯ6RODQJHQRFKLPPHU]ZHL'ULWWHOGHU0HQVFKHQ K9?=F <9KK!=JFK=@=FA@J=OA;@LA?KL=$F>GJE9LAGFK

IM=DD=e:=J+GDALACAKL :J9M;@L=AF0FL=JF=@E=FEAL =AF=E=>9;LG (GFGHGDAF<=J/1 $F>GJE9LAGFe:=J ^KL=JJ=A;@B=<=F>9DDK166-:-64=:)41;5=;<=FAFL=J

F=F2=LL:=O=J:NGF-=<9CLAGF=F %GMJF9DAKL$FF=FME <A=OA;@LA?KL=F/@=E=F <A=:=KL=-=;@=J;@= <A= CDe?KL=F9DQK=MF<<A=KH9FF=F<KL="=KL9DLMF?  ǯ(VEUDXFKW"-4*;<*-?=;;<;-16RMJ:O=@JNGF MFRMDaKKA?=F$FL=JN=FLAGF=FMF<=EMLNGJ<=J=A?=

F=F!=@D=J9F>aDDA?C=AL  ǯ,QHUVWHU/LQLHDEHUEUDXFKWHV=*413=5 (=F

K;@=F <A=<A=K=JLNGF%GMJF9DAKEMK9M;@K=@=F OGDD=F '=LRLDA;@?=@L=Kd>>=FLDA;@ J=;@LDA;@=F%GMJF9

DAKL$FF=FB9MEKG=LO9K+9L@=LAK;@=KOA==.34I:=6/  :=JM>CDaJMF? <A=FA=E9F<=FAFL=J=KKA=JL OaJ= FA;@LE=@J9DKAFL=DD=CLM=DD= AFKA=<=D=A  FKLaF<A??=E9;@L=Jd>>=FLDA;@ J=;@LDA;@=J%GMJF9DAK

EMKC9FFKG=LO9KOA==AF'=M;@LLMJEK=AFAF=AF=E MFe:=JK;@9M:9J=F(==J9F$F>GJE9LAGFMF<0FL=J

@9DLMF?  K?=DAF?LFA;@LAEE=J :=JOAJ:=Ee@=F MFKB=<=F/9?

.*&+,)# 


670&'0#-67'..'<78'4.C55+)'0(14/#6+10

I#/8=+>398/8#5+8.+6/&/<,</-2/8?8.%816S-5/.97383/</8 A/6>A/3>.3/+-2<3-2>/8'3<,/<3-2>/883-2>8?<.+<S,/< =98./<8/<56N</8=3/G.+==38.A3<./8/,S2</8D+26/<88/8 =-2?6.31E

.)*,+ %"#."!(0"1.+#,.*0&,+

(-1<1514,=6,(1 1-6.74)//;+01..-

A=!D9?K;@A>>=<=J/1 $F>GJE9LAGF <A=17;F;?;>6ME 0@JMF<<A=1;  KAF<9M;@F9;@==F<A?MF?<=JMJ;@K;@9DLMF?<=J17;F;?;>69M>*-!MF< *-! >eJ=AF=e:=JOA=?=F<=(=@J@=AL<=J^KL=JJ=A;@=J$FF=F$F>GJE9LAGFKIM=DD= )MEE=J=AFK %=<=F2=JCL9?R=@FMK?9:=F<=J1;AF*-!MF<*-! V<9K S#;5:F;@EG@=7>N S%35:43D;@%AFN SA5:I3EE7D:;> =J?A:L

.LMF<=F)9;@JA;@L=FAE%9@J HJG<MRA=JLNGF

(AL9J:=AL=J$FF=F 87N S+73?XEF7DD7;5:N S)3F3G8D3:FN S>F7D@F7>78A@N  9MK>eF>-=KKGJLK <A= /9?=AE%9@J  .LMF<=FHJG/9?LaLA?KAF<  .GRA9DC9EH9?F=FMF<.H=F<=F9M>JM>=>eJ#AD>KGJ?9FA

K9LAGF=F 0FL=JLAL=DMF?>eJ"=@dJ:=@AF<=JL= #dJ>ADE= 5MJ#9MHLK=F<=R=AL9J:=AL=F:AKRM  >eJ<A==AFR=DF=F.=F

>eJ.=@:=@AF<=JL= <=JSD7;@75=7DBD7;E8_D1;H;>5AGD3 <MF?=F <A=MLL=J$FF=FMF<&9E=J9L=9EKFA;@LEAL?=Ra@DL  97NMF<%M?=F<K;@MLR  =J*-!=J:JAF?LK=AL%9@J=F>J=AOADDA?MF<G@F=d>>=FLDA

9K%9@J

KL9F<AE5=A;@=F<=J <=J17;F;?;>6 .=F<MF

;@=FJM;C=AF=1A=DR9@DMF<1A=D>9DL9FKGRA9D=F'=AK

?=F  (AL <=J +JG?J9EEJ=>GJE AE HJAD OMJ<= <A=ABB7>?A67D3F;A@ OA=<=J LMF?=F <A=RMEAF<=KLAF<=J=MJGHaAK;@=F(=<A=FD9F<

=AF?=>e@JL  A= -;67AI3>> MF< F=M= ?J9>AK;@= "=KL9DLMF?K=D=E=FL= ?=:=F K;@9>L=AFE9DA?KAF< #ME9FAL9JA9FJG9<;9KLAF?AKLRM <=E )9;@JA;@L=FL=9E =AF=JMFN=JRA;@L:9J=F.=JNA;==AFJA;@LMF?<=K*-! <A= (d?DA;@C=AL  CGEHD=P= /@=E=F >eJ 5MK=@=J$FF=F N=JKLaF<DA;@=J<9JRMKL=DD=F  ?=OGJ<=F <A=<A=KGRA9D=FCLANALaL=F<=K#9MK=K:eF

<=DLMF<CGGJ<AFA=JL  A=)3ME 

0@J:A=L=L<=F=JKL=F/1 )9;@JA;@L=Fe:=J:DA;C<=K/9?=K  #ME9FAL9JA9FJG9<;9KLAF?N=JKL=@LKA;@9DK&GEH=

<A=)3ME

0@J:A=L=LEALJMF<(AFML=F.=F<=DaF?=<=F=JKL=FME

L=FRR=FLJMEAF9DD=F!J9?=FMF</@=E=F <A=AE5MK9E

>9KK=F<=F_:=J:DA;Ce:=J<9K/9?=K?=K;@=@=F <=JEAL<=J)3ME

0@J E=F@9F?EALCdJH=JDA;@ ?=AKLA?MF< G<=JAFKGRA9D=)GL >GJL?=K=LRLOAJ<  ?=J9L=F=F(ALE=FK;@=FKL=@=F $E0E?9F?EAL<A=K=F /@=E=FAKL=KM>?9:=NGF#ME9FAL9JA9FJG9<;9KLAF?  A=)/3>3736.ME 0@J K=ALHJAD

FMJE=@J9M>*-! AKLF9;@OA= K=JNA;A=J=F<EALRMOAJC=FMF<=AFOAJCDA;@C=ALK?=LJ=M=K NGJ#9MHLAF>GJE9LAGFKIM=DD=NGF<MJ;@K;@FALLDA;@  MF<R=AL?=EaZ=KAD<RMHJGBARA=J=F  ?=:DA=:=F A=AF<A=.=F<MF?AFL=?JA=JL=F)=OK9MK"G>FGDMF<.;EE7@E5:38F KGJ?=F>eJ=AF=F:J=AL=F_:=J:DA;C  .GRA9D=K F?9?=E=FL:=<=ML=L>eJ<=F*-!<9@=JFA;@L FMJ!MF<J9AKAF?KGF<=JFAKL9M;@=AF=BGMJF9DAKLAK;@= A=)3(GFL9?:AK!J=AL9? 

0@J *-! OAJ<K=AL<=J-=>GJEOA=<=J M>?9:= #ME9FAL9JA9FJG9<;9KLAF?@aDL<9@=J&GFL9CL NGF=AF=E=A?=F=F/=9E@=J?=KL=DDLV<A= A?=FKLaF<A?C=AL:=A<=J/@=E=F

RM<=F=AFK;@Da?A?=F*J?9FAK9LAGF=FMF<KL=DDLKA;@ O9@DMF<<A=9CLM=DD=F'AN= $FL=JNA=OK@9:=F@G@=FM>E=JCK9EC=ALK 2=JL 9M;@CJALAK;@=FAKCMKKAGF=FEAL<=E5A=D =AF=FA9DG? :=AE+M:DACME=JJ=A;@L  9M>RM:9M=F =JNGF*-! &MF<=FAEE=JOA=<=J:=OA=

K=F=KGRA9D=5MK9EE=F@9DL:=AC9JAL9LAN=FFDA=?=F <A=FLB=<G;@FA;@L<9RM :M<?=LaJ=1=JH>DA;@LMF?=F<=J d>>=FLDA;@=F#9F<RMe:=JF=@E=F .H=F<=FKAF<<A= XMLL=J9M>KJGLS MEAF<ANA<M=DD=.G>GJL@AD>=MF<+JG

@<-:6-6)4A;-  B=CL=RM=JEd?DA;@=F <A=e:=J<=F>AF9FRA=DD=F-9@E=F NGF AFR=DH=JKGF=FMF<*J?9FAK9LAGF=F@AF9MK?=@=F  (1-:1+0<-:;<)<<=6/=6)*0I6/1/=6,3:1<1;+0 XA= 1=JEMLMF? <=J 1GJB9@JK:=>MF<=  <A= *-! )9;@JA;@L=F:=JA;@L=JKL9L

A=NGF^AFALAA=JL=CLAGFX/=9E^KL=JJ=A;@SR=A?L<A= LMF?CdFFL=RMO=FA?HGDALACCJALAK;@K=AF :=KLaLA?LKA;@FA;@L $E"=?=F

=J>J=MDA;@@G@==J=ALK;@9>L<=J^KL=JJ=A;@=J$FF=FAE L=ADA=*-! )9;@JA;@L=FN=J>GD?=FMF<:=?D=AL=F<A=J:=AL<=J.+^ ^1+

-=?A=JMF?KLaLA?C=AL

AFL=FKAN=J9DKAE1GJB9@J S !9DD=NGFF9LAGF9D=F&9L9KLJGH@=FFA;@LFMJ"=D<KGF

<=JF9M;@5=ALRMKH=F<=FMF<XK=D:KLEAL9FRMH9

+-'DA9D3??3@3>KE767D,@;H7DE;F[F*3>L4GD9;?G8FD3967D)G@68G@= ;C=FS =J=AFE9DHJG%9@JN=JDA=@=F=XD7;@75=7D 'D7;E G@6+7>7=A?)79G>;7DG@9E ?4)+)* 

8_D1;H;>5AGD397N@9LKA;@RMJM>?9:=?=KL=DDL (=F




$2/7/8=-2A/<:?85>637+A+8./6

 OA<E=L= <=J *-! OA;@LA?=F !J9?=F <=J "=K=DDK;@9>L =JKLE9DK+:7?7@E5:I7DBG@=F7  ,M=J <MJ;@ 9DD= +JG?J9EEC9L=?GJA=FVNGF)=OKe:=J(9?9RAF= GCME=FL9LAGF=FMF<!=9LMJ=K:AKRMJ0FL=J@9DLMF?VO=J

<=F<A=/@=E=F=AF=2G;@=D9F?AF9DD=F!9;=LL=F:=@9F<=DL =FF>9F?E9;@L=<=J+:7?7@E5:I7DBG@=F ">;?3I3@67>VM>CDaJMF? F9DQK=  AFD9<MF?RME#9F<=DF>eJ=AF=F9;@@9DLA?=2=DL <=J/J=A:@9MK==CL MF<<A=!GD?=F $FK?=K9EL=JJ=A;@L=<9K*-! !=JFK=@=FEAL N=JK;@A=<=F=F.=F<MF?=F <A=KA;@=AFE9D G<=Jd>L=JEAL<=E&DAE9O9F<=D:=K;@a>LA?L=F AF<A=K=E5=ALJ9ME (AG 5MK;@9M=J <9K=FLKHJA;@L +JGR=FL<=J=NdDC=JMF?9: %9@J=F 

=4<=:=6,&1;;-6)3<=-44

A= "G>FGD47D;5:F7DEF3FFG@9 :DA=: =AF O=K=FLDA;@=J  =MJGH9O=AL =AFRA?9JLA?=J =KL9F<L=AD<=J=JA;@L=JKL9LLMF?AF<=J17;F;?;>6 /a?DA;@OMJ<=EAF<=K

L=FK =AF =ALJ9?  G>L 9:=J 9M;@ E=@J ?=:J9;@L  M;@.;EE7@E5:38FE47D;5:F7 KAF<AF<A=1; .=F<MF?=FAFL=?JA=JL $FK?=K9ELOMJ<=

EAL 2AKK=F

K;@9>LK:=JA;@L=FAFKaELDA;@=F)9;@JA;@L=FK=F<MF?=F=AF=1=J<GHHDMF?AE 1=J?D=A;@RME1GJB9@J

=JJ=A;@L  9:=AOMJ<=F<A=+JG?J9EEHDaLR=<=J*-! .;@A=F=EALA@J=F&MJR>GJE9L=F OA=1;MF<1;>3E:=:=FKGEAL2AKK=FK;@9>LKL@=E=F:=DA=>=JLOA=<A= #9MHLF9;@JA;@L=FK=F<MF?=F17;F;?;>6MF<1; .;@O=JHMFCLL@=E=FO9

J=F$76;L;@ 7EG@6:7;FKGOA=+75:@;=MF<ADE5:G@9

   ='464#7'0

+'"'+6+/ +.&&'4#%*4+%*6'05'0&70)'0

)+0:1+0<-69=)41<I<D?-4<?-1<

&GJJ=KHGF<=FL$FF=F:=JA;@L=F>eJ<=F*-!9MKAFK?=K9EL AFL=JF9LAG

F9D=FMZ=FKL=DD=F .A=?9J9FLA=J=F>eJ<A=)9;@JA;@L=FKK=F<MF?=F<=J17;F ;?;>69ML@=FLAK;@= RMN=JDaKKA?=$F>GJE9LAGFMF<=JEd?DA;@=F <9KKAE=

<9J>K>9DD KH=RA>AK;@ >eJ ^KL=JJ=A;@ OA;@LA?= $F@9DL= NGJ *JL J=;@=J;@A=JL MF< CGEEMFARA=JLO=J<=F  

16,-:-?;

%7IE <9K*-! $F>GJE9LAGFKE9?9RAFNGF&AF<=JF>eJ&AF<=J O9JAE-9@E=F NGFA@87FF;+;-;FA;@LFMJK9EKL9?K  0@J *-!MF<KGFFL9?K

  0@J *-! KGF<=JF9M;@OG;@=FL9?K 0@J *-!RMK=@=F A=.=F

<MF?OMJ<=FA;@LFMJMFL=JLAL=DL KGF<=JFNGF&AF<=JF9M;@AF"=:aJ<=FKHJ9;@= e:=JK=LRL  !eJ

 OMJ<=F ME>9F?J=A;@= \F<=JMF?=F <=K ?=K9EL=F *-! &AF<=JHJG

?J9EEKNGJ:=J=AL=L

@<-:6-6)4A;- ! "81<B-6:-1<-:=6<-:,-6J..-6<41+0:-+0<41+0-6"-6,-:6

X

 >eDDL *-!  K=AF= ?=K=DDK;@9>LDA;@= !MFCLAGF <=J &JALAC MF< &GFLJGDD= NGF '=?AKD9LAN=  P=CMLAN= MF< 9F<=J=F?=K=DDK;@9>LDA;@=F.M:KQKL=E=FFA;@LFMJAFL=FKAN=J9MK9DKAE1GJB9@JVEALK=AF=J/@=E=FK;@O=J

HMFCLK=LRMF?C9FF<9K+JG?J9EE<A=&JALAC MF<&GFLJGDD>MFCLAGFAF<=J+JAE=LAE=KG?9JN=JKLaJC=F  *-! AKLAE0E>9F?<=J>=JFK=@HM:DARAKLAK;@=F=JA;@L=JKL9LLMF?e:=JCGFLJGN=JK=/@=E=F9MK+GDALAC 2AJL

K;@9>LMF<"=K=DDK;@9>L.HALR=FJ=AL=JMFL=J<=Fd>>=FLDA;@ J=;@LDA;@=F.=F<=JF<=J.;@O=AR ^KL=JJ=A;@KMF< =MLK;@D9F<K  :A=L=L RMK9EE=F EAL <=F =JKL=F +JG?J9EE=F <=J - 9FL=ADKEaZA? 9E E=AKL=F =JA;@L=J

KL9LLMF?9MK<=E@d;@KL=F'=AKLMF?K:=J=A;@NGF$F>GJE9LAGFMF<DA=?LO=ALNGJ<=FHJAN9L=F+JG?J9EE=F S +-'DA9D3??3@3>KE767D,@;H7DE;F[F*3>L4GD9;?G8FD3967D)G@68G@=G@6+7>7=A?)79G>;7DG@9E ?4)+)* 




-67'..'0(14/#6+10'0+/'405'*'0? &+(('4'0<+'460#%* .6'45)4722'0

I ?,63-&+6?/2/3J>8+-27/38/7&/<=>N8.83=83-2>= +8./</=+6=0S</3838>/</==3/<>/=R=>/<</3-23=-2/= ?,635?74/./<D/3>?8.G0+=>GS,/<+66.+D?=/38E

)0.1!+$".  +#,.*0&,+

A=9CLM=DD=F)9;@JA;@L=FK=F<MF?=F<=K*-! /1 @9:=F=AF=R=FLJ9D==<=MLMF?>eJ<9KdKL=JJ=A;@A

K;@=+M:DACME=AC=AF=E9F<=J=F!=JFK=@K=F<=J CdFF=F.A=KA;@<9J9M>N=JD9KK=F <9KK.A==AF=<=J

9JLME>9KK=F<=MF<9MK?=OG?=F==JA;@L=JKL9LLMF? RMdKL=JJ=A;@AK;@=FV9:=J9M;@AFL=JF9LAGF9D=FV /@=E=FAF<=F=J=A;@=F'A>;F;= .;DFE5:38F "G>FGD :DA@;= .;EE7@E5:38F *BADFMF<.7FF7D:=CGEE=F  M;@9M>(AF<=J@=AL=FMF<(=FK;@=FEAL=@AF<=

JMF?OAJ<V=LO9AF17;F;?;>6 .=F<MF?=FAF"=:aJ

<=FKHJ9;@=V=<9;@L?=FGEE=F  G;@CdFF=F<A=BMF?=F5MK;@9M=J$FF=FEAL<A=K=E F?=:GLe:=J@9MHLFG;@=JJ=A;@LO=J<=FV AF= !J9?= <A=KA;@d>>=FLDA;@ J=;@LDA;@=.=F<=JAFL=JF9

LAGF9DKL=DD=F .GLAL=DL<=J.HA=?=DAE(9AX!3963G8 6;7!G97@6 7@^887@F>;5: D75:F>;5:7@*7@67D@?35:F 63E:A:7>F7D;:D7D1GE5:3G7DLGE5:3887@ SA=+JG

?J9EEJ=>GJE<=K*-!@9L<A=K:=Re?DA;@AE=J=A;@ $F>GJE9LAGFRM=AF=J=FLK;@=A<=F<=F1=J:=KK=JMF? :=A?=LJ9?=F.=AL@=J?A:L=K9M;@9M>*-!<=MLDA;@ E=@J)9;@JA;@L=FK=F<MF?=F =J+JG?J9EE9M>LJ9?  =AFX6;887D7@L;7DF7E7E3?FBDA9D3??

8_D3>>7S 9FRM:A=L=F OAJ<N=JKLaJCLO9@J?=FGEE=F  2a@J=F<E9F;@=.=F<=JF9;@<=J!GJE=DXBMF? <MEES9J:=AL=F<eJ>L=F :JAF?=F<A=*-! )9;@JA;@

L=FKL9LLHDMEH=JF:A=<=JMF?O=AL?=@=F<CD9KKAK;@ d>>=FLDA;@ J=;@LDA;@=)9;@JA;@L=F 9KBMF?=+M:DACME OAJ<EALK=AF=FAF@9DLDA;@=FFKHJe;@=F=JFKL?=FGE

E=FMF<EALEG<=JF=E=KA?FN=JOd@FL A=.=F<MF

?=FME MF< 0@JKAF<(9JCL>e@J=J "D=A;@

R=ALA?AKL<9KDL=J<=J5MK;@9M=JV=LO9AF<=J1;  V%9@J=BeF?=J9DK<9K<=J17;F;?;>69M>*-!  

A=1=JD9?=JMF?<=J)9;@JA;@L=FME(ALL=JF9;@LNGF *-!9M>*-!:J9;@L=V:=A9FFa@=JF<?D=A;@NA=D=F 5MK;@9M=J$FF=FV=AFMEKA=:=F%9@J=BeF?=J=K+M:DA

CME A=(d?DA;@C=AL=AF=K<A>>=J=FRA=JL=FF?=:GLK >eJBeF?=J=MF<aDL=J=.=@=J$FF=FAF*-!MF<*-! @9L=AF=F=FLK;@=A<=F<=F=ALJ9?<9RM?=D=AKL=L  9M;@>eJBeF?=J=5MK;@9M=J$FF=F9LLJ9CLAN=)9;@JA;@

L=FE9;@=FRMCdFF=F !MFCLAGFA=J=FC9FF<9KFMJ  O=AD<A=:=KL=F%GMJF9DAKL$FF=FKGOA=&GJJ=KHGF<=F

L$FF=F<=K*-!>eJ*-!MF<*-!9J:=AL=F  "D=A;@R=ALA?O=J<=F<=FN=JLJ9ML=F)9;@JA;@L=F9M> *-!9M;@NGFMF9:@aF?A?=F=G:9;@L=JF?ML= 'G4>;5-3>G7 2=JL=9LL=KLA=JL A=+ /G;@L=J $76;3I3F5:CGFKL9LA=JL= F<==R=E:=J <=J 17;F;?;>6=AF(=@J9F+GDALAC 9K1=J@aDLFAKNGF X@9J<SMF<XKG>LF=OKSK=A<MJ;@<A=-=>GJE<=J1; MFN=JaF<=JLMF<=FLKHJ=;@=O=AL?=@=F<<=F<=ML

K;@=Fd>>=FLDA;@ J=;@LDA;@=F/1 )9;@JA;@L=F =JA;@L= RMJ$FF=FHGDALACMF<MZ=FHGDALACD=?L=FKG?9JRM  $E"=?=FK9LRRMHJAN9L=F.=F<=JFCdFF=FKA;@*-!

.=@=J$FF=F<9J9M>N=JD9KK=F <9KKKA=F=:=FR=@F La?DA;@=F)9;@JA;@L=FK=F<MF?=F:=A9CLM=DD=F J=A?

FAKK=F5MK9LRK=F<MF?=F:=CGEE=F .A=J=A;@=FV =LO9:=AE/G<NGFDL:MF<=KHJaKA<=FL29D<@=AEV NGF4D73=;@9@7IE e:=J=AF=F)G@67@+;E5::AK@AF RMJ'AN= _:=JLJ9?MF?<=J=?Ja:FAK>=A=JDA;@C=AL=F  =AAFL=JF9LAGF9D=F/GH J=A?FAKK=FOA=<=E/G<NGF =F9RAJ@MLLGAKL<A= FLK=F<MF?=AF=K%GMJF9DAKL=F F9;@+9CAKL9FK=D:KLN=JKLaF<DA;@  'G4>;5-3>G7@=AZLF9;@E=AF=E1=JKLaF<FAKFA;@LK 9F<=J=K 9DK>eJ=AFAFL=J=KKA=JL=KdKL=JJ=A;@AK;@=K +M:DACMEB=<=JR=ALMF<V>9KLVe:=J9DD<9RMK=AF 2AJ N=JKM;@=FMFK=J=KL=K <A=K=FFKHJM;@MF<<A=K=K 1=JLJ9M=F>eJ9DD=.;@A;@L=FMF<MF9:@aF?A?NGFHGDA

LAK;@=F5M?=@dJA?C=AL=F=AFRMDdK=F

)0.1!+$".


1-6.7:5)<176;..-6;1>-)=.!

MJ;@<A=+JG?J9EEJ=>GJE

OMJ<=<=JFL=ADNGF9CLM=DD=F$F>GJE9LAGFK

K=F<MF?=F <A==A?=FK>eJ*-!HJG<MRA=JLO=J<=F <=MLDA;@=J@d@L  )3/A=06+=2 (GFL9?:AK!J=AL9? ;9  0@J  0@JMF<   0@J  .9EKL9?MF<.GFFL9? ;9    0@J *-! J=A(AFML=FCGEH9CL=$F>GJE9

LAGFAFEG<=JF=J"=KL9DLMF?K>GJEMF<FMF9M;@9E2G;@=F=F<=_:=J:DA;CK

9JLA?O=J<=F<A=OA;@LA?KL=F)9;@JA;@L=FAFJ9K;@=J:>GD?=HJaK=FLA=JL  AF CMJR=J2=LL=J:=JA;@LK;@DA=ZL<A=.=F<MF?9: 

   ='464#7'0

70)''*'400'0)'9100'0 D(('06.+%*'0'*49'46)'56C4-6

)3 La?DA;@ 

0@J *-! A=F=M=1;:A=L=LAF*-!AFKA=:=F(A

FML=F=AF=CGEH9CL=/9?=KRMK9EE=F>9KKMF?EAL<=FOA;@LA?KL=F)9;@JA;@

L=F9MK'A>;F;= .;DFE5:38F :DA@;= "G>FGDMF<*BADF>eJ<A=5A=D?JMHH= :AK  $EFK;@DMKK<9J9F>GD?L=AF=AFEAFeLA?=J2=LL=J:=JA;@L A=AD<KHJ9;@= AKLEG<=JFMF<9M><A=BeF?=J=5A=D?JMHH=NGF*-!RM?=K;@FALL=F  FLKHJ=

;@=F<= "=KL9DLMF?KEALL=D 'AN= &GEE=FL9J= RM =ALJa?=F  'AN= .;@9DLMF?  )=OKLA;C=JMF<.HDALK;J==F  )3 (GFL9?:AK!J=AL9?  

0@J *-! 9KF=M=

EAFeLA?=(ALL=J

F9;@LKE9?9RAF AF *-!  =JK=LRL <A= :AK@=JA?=1;  AF *-!  A= .=F<MF? :A=L=L=AF=FD=LRL=F)9;@JA;@L=Fe:=J:DA;CNGJ<=E.;@D9>=F?=@=F )=:=F<=J CGEH9CL=F5MK9EE=F>9KKMF?<=K2=DL?=K;@=@=FK:A=L=L<A=1; =AF.LM

<AG?=KHJa;@EAL=AF=EG<=JE=@J=J=F"aKL=FRM=AF=EL9?=K9CLM=DD=F/@=

E9KGOA==AF=F.=JNA;=L=ADRM/@=E=F <A=KH=RA=DD<A=BeF?=J= AFL=JF=L?=

HJa?L="=F=J9LAGFAFL=J=KKA=J=F";@A A?BGF7D  + 3@6K A?BGF7D93?7E  #;87EFK>7 $A67 $GE;=  -::.74/16()04-6 A=1;=JJ=A;@L=E=@JBeF?=J=5MK=@=J$FF=F9DK<A=17;F;?;>6 <9KMJ;@

K;@FALLK9DL=J<=J5MK=@=J$FF=FDA=?L:=A%9@J=F A=1; AKL=:=F>9DDK>eJ BeF?=J=5MK=@=J$FF=F9LLJ9CLAN 1GF<=F :AK  %a@JA?=F <A=ME<A=K=5=AL >=JFK=@=F >GD?=F+JGR=FL<=J1; <9KKAF<>9KL<J=AE9DE=@J9MK<A=K=J DL=JK?JMHH= 9DKNGJ<=J-=>GJE:=A<=J1; RMK9@=F  9KMJ;@K;@FALLK9DL=J<=J5MK=@=J$FF=FAKLNGF9M> %9@J=?=KMFC=F

@<-:6-6)4A;- (=.:1-,-60-1<,-:2=6/-6"-0-:66-6;<):3/-;<1-/-6

X$FK?=K9ELCGFFL=<A="=K9ELRM>JA=<=F@=AL9DD=J!GJE9L=?=KL=A?=JLO=J<=F6 7 M>>aDDA?AKL <9KKAE"=

?=FK9LRRMJ.LM<A=NGF

F9@=RMB=<=J5O=AL=<A=K=JMKK9?=X$FK?=K9EL>AF<=A;@<A=,M9DALaL<=J.=F

<MF?=FAE*-!K=@J?MLSRMKLAEEL 29J=F=K

FMJ +JGR=FL KGKAF<=KFMF:=AF9@= +JGR=FL <A= A@J=5MKLAEEMF?RM<A=K=JMKK9?=?=:=F 9<MJ;@R=A?LKA;@ <9KK<A=+JG?J9EEJ=>GJE<MJ;@9MKHGKALAN= >>=CL=9M><A="=K9ELRM>JA=<=F@=AL<=J%M?=F<DA;@=F?=FGEE=F@9L6 7 A=0JK9;@=>eJ=AF=.L=A?=JMF?<=J "=K9ELRM>JA=<=F@=ALC9FFNGJ9DD=E<MJ;@=?=AKL=JMF?K>9CLGJ=F=JJ=A;@LO=J<=F <A=AF<A=K=E!9DDG>>=F

KA;@LDA;@AF$F>GJE9LAGFKK=F<MF?=FDA=?=F S *FG6;767D35::A5:E5:G>7*F '^>F7@ SDI3DFG@97@<G@97D1GE7:7D @@7@3@^887@F>;5: D75:F>;5:7E7D@E7:7@Q N*  8




7#.+6C65,1740#.+5/75+/#&+1

I#>?8./0S<#>?8./38./</<3-2>/<=>+>>?8116/3-2 ,6/3,/8.!?+63>N>==>+8.+<.=+?0</-2>/<2+6>/838 "/-2/<-2/#-28/66315/3>09<7+6/<?0,/</3>?81G .+=5+888?</38R00/8>63-2</-2>63-2/=%8>/<8/27/8E

"00&+,&0%". --  !&,&+#,.*0&,+

29KAKL>eJMFK=J+M:DACME@=ML=<9KOA;@LA?KL= /@=E9MF<OA=:=J=AL=FOAJ=K9M>29KKAF<<A=!J9

?=F <A=KA;@<A=#dJ=J$FF=FKL=DD=FMF<OA=CdFF=F OAJKA=:=9FLOGJL=F29KAKL@=ML=AF^KL=JJ=A;@MF< AFL=JF9LAGF9DNGF=<=MLMF?29K<9NGFAKLOA;@LA? G<=J9MZ=J?=Od@FDA;@?=FM?G<=JNA=DD=A;@L9M;@FMJ KG:=Je@J=F< <9KK=KAF<=F&) )36;A<AGD@3>7@ G<=J<=F%35:D;5:F7@=AF=F.=F<=HD9LR=J@aDL 9KKAF<<A=!J9?=F <A=OAJMFKAF<=J)36;A;@8AD?3 F;A@RO=AE9DLa?DA;@AF<=F-=<9CLAGFKCGF>=J=FR=F KL=DD=F EALNA=D F?9?=E=FLMF<F9LeJDA;@NGJ<=E #AFL=J?JMF<<=K-MF<>MFC?=K=LR=K9K-=KMDL9LKAF< <A=%GMJF9D MF<)9;@JA;@L=FK=F<MF?=FAF^ AF<=F -=?AGF9DJ9<AGKMF<F9LeJDA;@AE#ALJ9<AG^ 0F<:=A 9DD=F.=F<=JFR=A?=F<A=MFN=JaF<=JL=F#d;@KLIMG

L=FRM<=F%GMJF9DR=AL=F OA=OA;@LA?<A=$F>GJE9LAGFK

K=F<MF?=FAE*-! -9<AG>eJMFK=J=#dJ=J$FF=FKAF<  (9F;@E9DK;@J=AL=F<A= J=A?FAKK=KGK;@F=DDNGJ9F  <9KK<A=?=K9EL=-=<9CLAGFRMJK;@F=DD=F AF?J=A>

LJMHH=AEA=FKL=<=J#dJ=JK;@9>LEMLA=JL9K F<= <=J-=?A=JMF?KRMK9EE=F9J:=ALOAJ<ME 0@J1GJ

EALL9?:=C9FFL?=?=:=F AF9DD=F-9<AGK=F<=JF:JAF

?=FOAJKGK;@F=DDMF<KGME>9KK=F<OA=Ed?DA;@ =JA;@L=e:=J<9K J=A?FAK <9RMF9DQK=F $FL=J

NA=OK !9;L:GP=K #AFL=J<=F&MDAKK=FD9M>=F<A= AFL=FKAN=F1GJ:=J=ALMF?=F>eJ=AF=9MZ=JLGMJDA;@= !AGD@3> '3@AD3?3 AKCMKKAGFKJMF<=9E:=F<EAL <=F29@DC9EH>E9F9?=JF<=J+9JD9E=FLKH9JL=A=F  9MK:=KGF<=J=EFD9KK9M>=AF=.LMF<=N=JDaF?=JL  0F<?D=A;@R=ALA?HD9F=FOAJ<9K/GHL@=E9>eJ<A= $AD97@<AGD@3>7<=KCGEE=F<=F/9?=K  

)9LeJDA;@AKL<9K F<==AF=J&G9DALAGF=AFAFF=FHGDALA

K;@=K"JGZ=J=A?FAK 9F<=EC=AF(=<AMENGJ:=A?=

@=FC9FFG<=JOADD 9:=J9F=AF=Fd>>=FLDA;@ J=;@LDA

;@=F.=F<=JCdFF=FMF<EeKK=F@A=J:=KGF<=J= FKHJe;@=?=KL=DDLO=J<=FA==JA;@L=JKL9LLMF?KGDD FA;@LFMJ?MLJ=;@=J;@A=JLMF<LGH9CLM=DDK=AF OAJ EeKK=F9M;@AF<A=/A=>=?=@=F <A=#AFL=J?JeF<= =:=FKG:=D=M;@L=FOA=<A=&GFK=IM=FR=FMF<OAJ KAF<<=F"=:GL=F<=JGE97IA97@:7;FMF<<=J &4<7=F;H;F[FN=JH>DA;@L=LVMF<KH9FF=F<>eJ<A= #dJJ=J$FF=FKGDD=K9MZ=J<=E9M;@K=AF  AFBGMJF9

DAKLAK;@@G;@O=JLA?=K+JG?J9EE9F?=:GL=:=F 9M> <9KE9FKA;@N=JD9KK=FC9FF  AF=K;@D9?CJa>LA?=)36;A;@8AD?3F;A@EMKK?=F9M<9K 9DD=K:A=L=FCdFF=F 9:=J?D=A;@R=ALA?9M;@9F<=J=K #AFL=J?JMF<K=JA=FRM<=F J=A?FAKK=FNGFG<=J  <A=EGF9L=D9F?=>MF<A=JL==JA;@L=JKL9LLMF? e:=J=AF=F2AJLK;@9>LK "JGZHJGR=KKMF<<A=1GJ:=J=A

LMF?<=J+JaKA<=FLK;@9>LKO9@DAF<=F0.  )MFCdFFL=E9FOA=<=JK9?=F <9KKB99DD=(=<A=F e:=J<A=K=AF?=:=JA;@L=FEeKK=FV9:=J.=JA=F e:=JG<=JO=J<=F.A=:=ACGEE=JRA=DD=F -9<AGK=F<=JFN=J?=:DA;@KM;@=F =AF=La?DA;@=&MD

LMJD=AKL=AF<=J(GJ?=FAF>GJE9LAGF>aF<=F.A=:=A

KHA=DKO=AK=9M;@FA;@L )MJ>eJ<A=*-! -9<AGK?ADL )9;@JA;@L=FKLeF<DA;@JMF<ME<A=0@J .;@D9?R=AD=F <9ROAK;@=FMF<%GMJF9DK=F<MF?=FAF'aF?=FNGFKA=

:=F(AFML=F (AFML=F =AF=J@9D:=FMF<=AF=J?9F

R=F.LMF<= #A=JAF<=J=JA;@L=JKL9LLMF??D=A;@:D=A

:=F<=,M9DALaLKKL9F<9J<K9M>J=;@LRM=J@9DL=F <A=<A= &) )36;A;@8AD?3F;A@<=MLDA;@NGF9F<=J=F(=<A=F MFL=JK;@=A<=F AF-=;@=J;@= .;@F=DDA?C=AL >GJE9D=J M>:=J=ALMF?V<9KC9FFFMJ=AFd>>=FLDA;@ J=;@LDA;@=K 0FL=JF=@E=F 

"00&+,&0%". --


G 7=:6)4- 6.7:5)<176,-:5)6>-:<:)=-63)66

LO9

(AFML=FLa?DA;@9MK'A>;F;= .;DFE5:38F 7E7>>E5:38FMF<"G>FGD@9L<=J !),17;-6,-:G 

B=<=F/9?AFK=AF=F%GMJF9D .=F<MF?=FMF<)9;@JA;@

L=F?=:GL=F ^AKL<9EAL=AF=<=JOA;@LA?KL=F$F>GJE9LAGFKIM=DD=F<=K'9F

<=K  -=<9CL=MJ$FF=F <9NGF AF<=F%35:D;5:F7@ !AGD@3> +#+/+  @8AD36;A -=<9CLAGF=F   AF <=F -=KKGJLK GV7@BA>;F;=  @@7@BA>;F;=  .;DF E5:38F  :DA@;=  *BADF  .7FF7D KGOA= GDAB3 !AGD@3> MF< !AGD@3> '3@AD3?3 KGJ?=FNGF(GFL9?:AK.GFFL9?9M>9DD=F.=F<=JF^ *-! -=?AGF9DJ9<AGK  ^ !(>eJ %GMJF9D=MF< )9;@JA;@L=FK=F<MF?=F (=@J$F>GJE9LAGF RM<=F^%GMJF9D=FKA=@=.=AL=F  MF< 

6.7:5)<176-6B=51<6-05-6 -:37;<-647;-G 7,+);<

   ='464#7'0

D4$#4'06'45%*+'&' +'#&+1+0(14/#6+10

A==JKL=?JGZ=$F>GK=F<MF?<=K/9?=KCdFF=F<A=#dJ=J$FF=FB=LRL9M;@9DK 'A653EF<GOFDG9<=F 9K"D=A;@=?ADL>eJ)9;@JA;@L=FAF=F?DAK;@=J >J9FRdKA

K;@=JMF<KH9FAK;@=J.HJ9;@=

$2/7/8=-2A/<:?85>637+A+8./637"+.39 (AL<=F.=F<MF?=FRME">;?3I3@67>NGF^ ^ !(KGOA=B=F=F<=J*-! -=?AGF9DJ9<AGKOMJ<=FHJG/9? JMF< (AG #dJ=J$FF=F=JJ=A;@L,M=DD=-9<AGL=KL



 A=-9<AG %GMJF9D=:=@9F<=DL=FMFL=J 9F<=J=E<A=/@=E=FEEEF^DG@97@ 7@8AA6 3;D +D367 'DA6G=F7MF<7EG@6:7;FED;E;=7@:=AE9F;@=F)9@

JMF?KEALL=DF M;@<=JNGE#ALJ9<AG^ AF5MK9EE=F9J:=ALEAL<=E22!<MJ;@?=>e@JL=">;?35:75=OMJ<= AFL=FKAN?=FMLRL $FK?=K9EL

#dJ=J$FF=F@9:=F<A=ROdD>">;?35:75= !J9?=FGFDAF=:=9FLOGJL=LMF< 9E F<==J>9@J=F MEOA=NA=D"J9<KA;@<9K J<CDAE9=JOaJE=FOeJ<= O=FF9DD==OG@F=J$FF=FMFK=J=K +D9F=L=FKGOA=<=J <A=0K=J$FD=:=FOeJ<=F (AL?=DA=>=JLOMJ<=F9:=J9M;@CGFCJ=L=1GJK;@Da?=MF<#AF

O=AK= OA=B=<=JK=D:KLRMJ1=JJAF?=JMF?<=K&DAE9O9F<=DK:=ALJ9?=FC9FF 

G =6, =:B6)+0:1+0<-651<1>-)=

5MB=<=JNGDD=F.LMF<=N=JKGJ?L<9KCGEH=L=FL=/=9E<=J)36;A;@8AD?3F;A@ 9M;@AE1<:),17G <A=JMF< (AG #dJ=JEALG:B=CLAN=FMF<9MK?=OG?=

F=F$F>GJE9LAGF=FRME/9?=K?=K;@=@=F <A=)9;@JA;@L=FKAF<9M;@9DK'A6 53EF9:JM>:9J   N=JKL=@LKA;@9DK!=FKL=JRMJ2=DL A=)=OK9M>!(KLeF<DA;@NGF

 :AK 

 0@J KHJ=;@=F <A= O=K=FLDA;@KL= 2=DLKHJ9;@= F?DAK;@  0E   MF<  0@JO=J<=F<A=OA;@LA?KL=F J=A?FAKK=<=K/9?=K9M;@AF>J9FRd

KAK;@=J .HJ9;@= HJaK=FLA=JL  A= ?D=A;@:=J=;@LA?L= 1=JO=F<MF? <=J :=A<=F .HJ9;@=F F?DAK;@MF<=MLK;@AE.=F<MF?KK;@=E9AKL/=AD<=J(9JC=!( 

=*413=5;5-16=6/

X +JGR=FL<=J^KL=JJ=A;@=J$FF=F>AF<=F=KOA;@LA? <9KK<=Jd>>=FLDA;@ J=;@LDA;@=-MF<>MFCe:=J9DD=OA;@

LA?=F!J9?=F9MK+GDALAC .GRA9D=E 2AJLK;@9>L &MDLMJMF<.HGJLME>9KK=F<AF>GJEA=JL S *FG6;767E&) 'G4>;=G?ED3F7E7D^887@F>;5: D75:F>;5:7%GFL7@3GE*;5:F67E'G4>;=G?E8"GEFD;3 )7BD[E7@F3F;H478D39G@9




#6

I3>.?<-2=-283>>63-2 39=91/8+88>/8H&3=3>=* :<998+>+6=9/38/<H$+1/=</3-2A/3>/*@980+=> /38/<39%=/<88/8A+<"+>37+2<  .+=73>,=>+8.:9:?6N<=>/8>/<8/>+81/,9> K=>/<</3-2=8.3/=/< 9=3>3982+>"+>/38/ ,/=98./<//?-2>>?<7?85>398D?/<0S66/84/8/ 8+-2L,/<=3-2>59<</5>/</A3-2>?81/8+?31 5/3>?8.,4/5>3@3>N>E

.) %+".  +)&+"1+!")"0"40 * , 

$EO=DLO=AL=F)=LR AF<=EB=<=KF?=:GLFMJ=AF=F &DA;CNGEFa;@KL=F=FL>=JFLAKL EMKK=AF=(9JCLHGKA

LAGFOA=B=F=<=K*-!=JKL<MJ;@=AF@G@=K(9Z9F "D9M:OeJ<A?C=AL=J9J:=AL=LO=J<=F 

&=AF9F<=J=KdKL=JJ=A;@AK;@=K*FDAF= F?=:GLO=AKL <=J$F>GJE9LAGF=AF=9M;@FMJ9FFa@=JF<a@FDA;@ ?=OA;@LA?==<=MLMF?:=A<9EALKL=@L&) 3FAF:=K

L=J'G4>;5*7DH;57 /J9<ALAGF 

=E=JC=FKO=JL=JK;@=AFL <9KK<A=:=9;@LDA;@=59@D NGF5M?JA>>=F <A=NGFE=@J9DK (AG XDA=FLKSHJG (GF9LNGJ?=FGEE=FOMJ<=F KA;@FA;@LVOA=:=A 9F<=J=F(=<A=F9F?=:GL=FV9M>F=M=NAJLM=DD=XKGRA

9D=2=DL=FS &D=AF9FR=A?=F &GFL9CL:dJK=FG<=J!GLG

KLJ=;C=FKLeLRL=F KGF<=JFAFE=@J9DKF=MFNGFR=@F !aDD=F9M>=;@L=J=<9CLAGF=DD=$F@9DL=  A=?=F9M=J=M>?DA=<=JMF?<=J$F@9DL=F9;@)MLRMF? R=A?L <9KKJMF<<J=A1A=JL=D9DD=J9:?=>J9?L=F.=AL=F %35:D;5:F7@ *BADF =JA;@L=9MK<=F#3@67EEFG6;AE  +75:@A>A9;7 @F7D@7FMF<.7FF7D;@8AD?3F;A@7@9F?=

:GL=F@9:=F .GOG@DF?=:GL 9DK9M;@)MLRMF?=FL

KHJ=;@=F<9EALAF@G@=E(9Z=<=JMKJA;@LMF?NGF &) 3F9M>=AF9MK?=OG?=F=Kd>>=FLDA;@ J=;@LDA;@=K .H=CLJME 

&) 3FD=AKL=L9:=JFA;@LFMJ=KGF<=J=K@AFKA;@LDA;@ <=K$F>GJE9LAGFK9F?=:GLKAKRM DA=FLKHJG (GF9LF=@E=F9F<=FN=JK;@A=<=F=FGEEMFALQ

F?=:GL=FNGF&) 3FL=AD O9KKA;@AF<=JKL=A?=F<=F 59@DNGF=:9LL=F:=ALJa?=FRMN=JK;@A=<=F=F?=K=DD

K;@9>LDA;@=FMF<HGDALAK;@=F/@=E=FaMZ=JL <A=:AK RMRO=A(AG NGF0K=J$FF=F=AF?=K9F<L==ALJa?=HJG (GF9L=JJ=A;@=F 

:?=JMF<=LOAJ<<A=K=JKL9JC=&=JFEAL$F>GJE9LAGF=F 9MK<=F=J=A;@=F.;EE7@E5:38F -A>=E9DGBB7@MF< "A@EG?7@F7@E5:GFL =AF=EHa<9?G?AK;@O=JLNGDD=F ";@67D3@974AFMF<<=F*7DH;57E<=J-9<AGK=F<=JMF< <=K!=JFK=@=FK 

A=K=D=:=F<A?=!GJ=FCMDLMJAKLFMJEd?DA;@ O=AD &) 3F<A=?=K=DDK;@9>LDA;@=J=AL=9:<=;CLMF< =JJ=A;@L  KAKLCD9J <9KK<A=K=!GJENGF/=AD@9:=<=E?=K=LR

DA;@=FM>LJ9?9F<=F*-!=FLKHJA;@L RMJ?=K=DD

K;@9>LDA;@=FMF<HGDALAK;@=FAKCMKKAGFAF^KL=JJ=A;@ :=ARMLJ9?=F

.) %+".

X.GOG@D <A= J?=:FAKK= <=J F?=:GLKKLJMCLMJ  9DK 9M;@ <=J $F@9DLK9F9DQK= NGF *-! 9L :=D=?=F =AF= CD9J= *JA=FLA=JMF?<=K*FDAF= M>LJALL=K<=K*-!9E?=K=LRDA;@=FM>LJ9?MF<=JD9M:=FKGEAL=AF=,M9DA>ARA=JMF? 9DKd>>=FLDA;@ J=;@LDA;@=J*FDAF= F:A=L=J F=OK *-! 9LO=AKLFA;@LFMJ=AFN=J?D=A;@KO=AK=?JdZ=J=KMF<:J=A

L=J=KF?=:GL9F?=FMAF=J*FDAF= =JA;@L=JKL9LLMF?9DK<A=HJAFLE=<A9D :9KA=JL=F*FDAF= A=FKL=9M> M;@ @AFKA;@LDA;@<=J/@=E9LAKA=JMF?KD=AKLMF?DA=?L<9K*-! F?=:GL?=E=KK=F9F<=FAE=FKAGF=F/@=E=F9C

R=FLMA=JMF? /@=E=FKLJMCLMJMF<CLM9DALaLF9;@O=AK:9JNGJ<=F1=J?D=A;@K9F:A=L=JF S  @EF;FGF8_D'G4>;L;EF;=G@6"A??G@;=3F;A@EI;EE7@E5:38F67D,@;H7DE;F[F.;7@*FG6;7;?74DG3D  


M>e:=J *FDAF= &9FaD=FMF<2=:KAL=K:A=L=L!)<$F>GJE9LAGF=FRM9D

D=F J=D=N9FL=F /@=E=F:=J=A;@=F NGF 'A>;F;=  "G>FGD  .;DFE5:38F e:=J *BADF  .7FF7DMF<.;EE7@E5:38F:AKRM @8AD?3F;A@EF75:@A>A9;7@ )7>;9;A@MF<-A>=E 9DGBB7@ $F@9DLDA;@OMJ<=

EAL<=JKLaJC=J=F1=JK;@JaFCMF?NGF/1 MF< -9<AG $F@9DL=F EAL &) 3F MF< <=E MK:9M NGF &) 3F RMJ EMDLAE=<A9D=F +D9LL>GJE:=?GFF=F ME<=EKL=A?=F<=F=<9J><=K+M:DACMEKF9;@R=AL MF< GJLKMF9:@aF?A?=J)MLRMF?NGF*-! F?=:GL=FEAL=FLKHJ=;@=F<=FCGKL=FDG

K=F.=JNA;=K-=;@FMF?RMLJ9?=F

$2/7/8=-2A/<:?85>637+A+8./6+?0"+> A=&) +:7?7@E5:I7DBG@=F F?=:GL=AE$FL=JF=LN=JR=A;@F=L=FAFK?=K9EL (AG 5M?JA=  E@aMT?KL=F9M>?=JM>=FOMJ<=F<A=.H=;A9DK9M>@7IE &) 3FCF9HH

5M?JA= ?=>GD?LNGFA7 EF7DD7;5: &) 3FJMF< 

MF<<=J.;@O=JHMFCL .AL=F:7?7@E5:I7DBG@=F &) 3F

 =J&) +:7?7@E5:I7DBG@=F=J@aDLFA;@LFMJAE$FL=JF=L:=9;@LDA;@=-=KGF9FR ǯ͌͋3UR]HQWGHU˜VWHUUHLFKHU,QQHQRUGQHWHQLQHLQHU,QWHJUDO8PIUDJHGHP+:7?7@E5:I7DBG@=F">;?3I3@ 67><A=LLJA:ML=X=AFOA;@LA?=J=ALJ9?>eJ<A="=K=DDK;@9>LSMF<XH9KKLRME*-!SRM ǯ ͍ͅ 3UR]HQW GHU %HY¸ONHUXQJ VLQG GHU JOHLFKHQ 8PIUDJH ]XIROJH DQ ,QIRUPDWLRQHQ ¾EHU GHQ .OLPDZDQGHO XK=@JSG<=JX=@=JAFL=J=KKA=JLS ǯ'LH,GHHHLQHVVROFKHQ+:7?7@E5:I7DBG@=FEAF9DD=F*-! +JG?J9EE=FMF< (=<A=F@9DL=F +JGR=FL>eJ XK=@J?MLSG<=JX?MLS ǯ͌͊3UR]HQWGHU%HIUDJWHQVHKHQGLH25)*HE¾KUHQJHOGHUI¾UGHUDUWLJH6FKZHUSXQNWHǬVHKUJXWǪE]ZǬJXWǪ =AF?=K=LRL

   ='464#7'0

B56'44'+%*5(E*4'0&' '$5+6' +56'+07#.+6C65241&7-6#6

)+0:1+0<-66416-

M> @7IE &) 3F O=J<=F <A= F=M=KL=F F9LAGF9D=F MF< AFL=JF9LAGF9D=F )9;@

JA;@L=F9MK9DD=FJ=D=N9FL=F=J=A;@=FKGOA==J?aFR=F<=1A<=G=D=E=FL=9F

?=:GL=F 5MKaLRDA;@O=J<=F9M;@9M>A7

&) 3F&MDLMJ MF<$F>GJE9LAGFK9F

?=:GL=9M;@M<AG GF =E9F<:=J=AL?=KL=DDL  A=^KL=JJ=A;@ _:=JKA;@LKK=AL=A7EF7DD7;5: &) 3FKGOA=<A=.=AL=F<=J &) #3@67EEFG6;AEAF>GJEA=J=Fe:=JDGC9D=MF<J=?AGF9D=/@=E=F  $E%9@J

HM:DARA=JL=&) 3FAE-9@E=FK=AF=JL9?=K9CLM=DD=FF?=:GL=   =JA;@L=MF<=J@d@L=<9EAL<=FJ=<9CLAGF=DD=F'=AKLMF?KME>9F?AE 1=J?D=A;@RME1GJB9@J

  NGJ9DD=EAE=J=A;@NGF@7IE &) 3F <=J DGC9D=FMF<J=?AGF9D=F=JA;@L=JKL9LLMF?KGOA=<=J+JG?J9EEAF>GJE9LAGF=F

  81/,9>

 

   *-! 9L AHLN *-! 9L    

O=LL=J *-! 9L   

 

  #>9<C=

 



=ALJa?=



=ALJa?=

#>9<C=

 

$2/7+

 

  

 

 

  

 

)9;@JA;@L=F$FD9F< MKD9F<  2AJLK;@9>L @JGFAC &MDLMJ

 

  

 



  

 

2=LL=J:=JA;@L=  NGJ9MKK9?=F 

O=JL=

   

 

    

 

-=?AGF9D:=JA;@L=JKL9LLMF?  ^KL=JJ=A;@ @JGFAC

G=KL=JJ=A;@ *-! 9L MF<=KDaF<=J &9FaD=    




'.%*'4'*49'46/'*49'46+56

I3/,/3./8 96/./<169,+63=3/<>/8 /.3/8A/6>=38. ?,63-&+6?/*?8. #2+</296./<&+6?/*'/6-2/</2< A/<>.+7/2<A/<>3=>3=>/38/<+1/ ./=4/A/3631/8'/<>/5+898=E

.&06"+!) ,./&06"+!". "!(0"1./.0

=J=?JA>>X'G4>;5-3>G7SKL9EEL:=C9FFLDA;@ MJKHJeF?DA;@9MK<=J^CGFGEA=MF<OMJ<=NGE 3DH3D6 +JG>=KKGJ(9JC(GGJ==FLOA;C=DL ME<A= >>ARA=FRd>>=FLDA;@=J AFJA;@LMF?=F?=F9M=JRM :=KLAEE=F 9KK<=J=?JA>>AFK=AF=J0JKHJeF?DA;@

C=AL9DKGFMJ:=<AF?L>eJd>>=FLDA;@ J=;@LDA;@=F-MF<

>MFCL9M?L AKLKGG>>=FKA;@LDA;@OA=<=J0FL=JK;@A=< ROAK;@=F=9EL=FLMEMF<(=<A=FE9;@=FAEDD?=

E=AF=FMF<%GMJF9DAKEMKAE=KGF<=J=F 29K9DD=J

<AF?KFA;@LK<9J9FaF<=JL <9KK*-! %GMJF9DAKL$FF=F EALFA;@LKO=FA?=J+JG:D=E=@9:=FCdFF=F <eJ>=F  9DKEAL<=E9DDLa?DA;@=F ?=J9<=RMRO9F?KDaM>A?=E +JG<MRA=J=FNGFd>>=FLDA;@ J=;@LDA;@=E(=@JO=JL  !eJ<=Fd>>=FLDA;@ J=;@LDA;@=F-MF<>MFCKAF<0F9:

@aF?A?C=ALMF<"D9M:OeJ<A?C=ALFaEDA;@NGF=PAKL=F

RA=DD=J=<=MLMF?  @ >eJ*-! %GMJF9DAKL$FF=F@9L <A=29@JF=@EMF?MF<+>D=?=<=J?9FR:=KGF<=J=F  ME>9KK=F<=F FA;@LRMD=LRL<=EGCJ9LA=HGDALAK;@=F 1=JH>DA;@LMF?=FNGF(=<A=F=AF=.=D:KLN=JKLaF<DA;@

C=ALRMK=AF :=JB=?DA;@=JFG;@KGN=J9FLOGJLMF?K

:=OMKKL:=LJA=:=F=%GMJF9DAKEMK>AF<=L9M;@AE 0E>=D<=AF=JKA;@J9K9FLN=JaF<=JF<=FAFL=JF9LAGF9

D=F(=<A=FD9F<K;@9>LKL9LL 0F<KG?A:L=K9M;@@A=J

RMD9F<=AEE=JE=@J(=<A=F:=LJ=A:=J >eJ<A= (=<A=FE9;@=F:DGZ=AF"=K;@a>LKRO=A?OA=B=<=J 9F<=J= =AF#9F<=DEAL29J=F9DD=JJLAKL 9RM CGEEL1A=D=FdKL=JJ=A;@AK;@=F(=<A=FMFL=JF=@E=F ?=@L=KOAJLK;@9>LDA;@K;@D=;@L:AK=D=F<A?DA;@ 0F<KG ?A:LKAEE=JO=FA?=J.;@J9FC=F?=?=F<A=O=AL=J= 1=JDM<=JMF?N=JDM<=JL=J(=<A=FKALL=F <=FF?=@LK =AF=E0FL=JF=@E=FFA;@L?ML OAJ<9F<A=(AL9J:=A

L=J$FF=F9HH=DDA=JL XAF=A?=F=E$FL=J=KK=S9M>.CJM

H=DRMN=JRA;@L=F .GO9K>e@JLRM'G@F<MEHAF? 



RMJ1=JR=JJMF?NGF2=LL:=O=J:K:=<AF?MF?=FMF< C9FF:=A%GMJF9DAKL$FF=F9M;@1=JRA;@L9M>BGMJF9DAKLA

K;@=K-e;C?J9L:=<AF?=F  ^>>=FLDA;@ J=;@LDA;@=J-MF<>MFCC9FFKA;@<9K O=AD=J KGFKLK=AF=MJ=A?=FKL='=?ALAE9LAGFN=JDdJ= FA=E9DK D=AKL=F 0F<?=@L8KA@EdCGFGEAK;@9M;@FG;@KG K;@D=;@L 29K9DD=J<AF?KFA;@LK9E"JMF<K9LRaF<=JL  <9KKE9FKA;@BGMJF9DAKLAK;@=!J=A@=AL K9EL<=J!J=A

@=ALRM&JALAC FKLaF<A?C=AL MKO 9M;@>AF9FRA=DDD=AK

L=FCdFF=FEMKK  A=:=A<=F+GD=<=J?DG:9DAKA=JL=F(=<A=FO=DLKAF< X'G4>;5-3>G7SMF<X*:3D7:A>67D-3>G7S 2=D;@=J (=@JO=JL<9E=@JO=JLAKL AKL=AF=!J9?=<=KB=O=ADA

?=F2=JL=C9FGFK !eJ%GMJF9DAKL$FF=FAF=AF=Ed>>=FL

DA;@ J=;@LDA;@=F(=<AMEKL=@L<=J=AF<=MLA?>=KL A= =<AF?MF?=F MFL=J<=F=F<=JL9?La?DA;@=d>>=FLDA;@

J=;@LDA;@=(=@JO=JL?=K;@9>>=FOAJ< KAF<B=<G;@V NGE"=K=LR e:=J<9K-=<9CL=MJKKL9LML :AKRMM<

?=LKVJ=A;@DA;@N=J:=KK=JMF?K:=<eJ>LA? DKG>GJ<=J

L=FMF<>GJ<=JF<A=*-! %GMJF9DAKL$FF=FVFA;@L AEE=JMF:=<AF?LAE AFCD9F?EAL<=JB=O=ADA?=F "=K;@a>LK>e@JMF?VAEE=JOA=<=J9M;@  M 9 AF E=@J=J=F"=KHJa;@=FEAL(=<A=FHGDALAC=J$FF=F GJ<=FLDA;@= ME>9KK=F<=E=<A=F?=K=LRDA;@=-9@E=F

:=<AF?MF?=F &GEE=F<A=FA;@L :=<=ML=L<9K=AF= O=AL=J=1=JOeKLMF?<=J(=<A=FD9F<K;@9>L =FF>=K

K=DLE9F=AF=FMF<<eF?LRM?D=A;@<=F2AD<OM;@K 9DD=J9F<=JF <9J>E9FFA;@L=JO9JL=F <9KK<=J "=>=KK=DL==K9M;@FG;@>=JLA?:JAF?L <9K0FCJ9MLAE 2AD<OM;@KRM:aF<A?=F 

.&06"+!)


XA=!J=A@=AL<=JBGMJF9DAKLAK;@=F=JM>K9MKe:MF?:=KL=@L<9JAF 9MKK;@DA=ZDA;@9M>?JMF<<=JF9;@:=KL=E 2AKK=FMF<"=OAKK=F=J@G:=F=F/9LK9;@=FD9?=RM@9F<=DF<A=K=!J=A@=ALAKLNGJJ=;@LKOA<JA?=F AF?JA>>=F NGFAFF=FMF<NGF9MZ=F AFK:=KGF<=J=<=K.L99L=K H9JL=AHGDALAK;@=J OAJLK;@9>LDA;@=JKGOA=?=K=DDK;@9>LDA

;@=J$FL=J=KK=F?JMHH=F RMK;@eLR=F S &) )763=F7GDEEF3FGF

)G@68G@=97E7FLMF<'DA9D3??D;5:F>;@;7@KL=;C=F<=Fd>>=FLDA;@ J=;@LDA;@=F -9@E=F<=J*-! $F>GJE9LAGF9: <9K)763=F7GDEEF3FGFK;@eLRL<A=0F9:@aF

?A?C=ALMF< A?=FN=J9FLOGJLMF?<=J*-! %GMJF9DAKL$FF=F &=AF9F<=J=K(=<A

ME@9L<=J9JLCD9J=-=?MD9LAN= MF<AFC=AF=E9F<=J=F(=<AMEAKL<A=!J=A@=AL <=J=JM>K9MKe:MF?9M;@FMJ9FFa@=JF<KG?=KA;@=JLOA=AEd>>=FLDA;@ J=;@L

DA;@=F-MF<>MFC  KKAF<E=@J9DK=L@AK;@=.L9F<9J<K 

   ='464#7'0

+'0#$*C0)+)-'+6#.5D(('06.+%*4'%*6.+%*' 7#.+6C6#$)'5+%*'469+4&

A=>=KL?=K;@JA=:=F=F"JMF<KaLR=KAF<NGF<=F*-! %GMJF9DAKL$FF=FLa?DA;@ RM:=>GD?=F A@J= AF@9DLMF?C9FFNGFB=<=J E.L99LK:eJ?=J$FJ=CD9EA=JLO=J

<=F *:B=CLANALaL  .9;@DA;@C=AL  MK?=OG?=F@=AL 1=JE=A<MF? NGF AFK=ALA?

C=AL 1=JE=A<MF?NGF1=J9DD?=E=AF=JMF?=FY -=KH=CLA=JMF?<=J(=AFMF?K

NA=D>9DL MF< <A= ;@LMF? NGF (=FK;@=FOeJ<=  +=JKdFDA;@C=ALKJ=;@L=F MF< +JAN9LKH@aJ= A=K=FKLJ=F?MF?=FOMJ<=F?=J9<=AEN=J?9F?=F=F%9@J9M;@:=ACJALAK;@=J F9DQK=<=KF?=:GL=K<MJ;@9MKJ=?AKLJA=JL X7D,?83@967D7D;5:F7DEF3FFG@93GE67?"7D@47D7;5:97E7>>E5:38F>;5:D7>7 H3@F7D @8AD?3F;A@BA>;F;E5:7G@6=A@FDAH7DE7+:7?7@EF7;9F3G87;@7@.7DF 67@=7;@3@67D7E^887@F>;5: D75:F>;5:7E'DA9D3??7DD7;5:FSMJL=ADL<A=)+)AF A@J=J/1 +JG?J9EE9F9DQK=

e:=J<A=&) @8AD?3F;A@

XA=:=KGF<=J=1=J9FLOGJLMF?MF<<A=:=KGF<=J=F+>DA;@L=F <A=<=F-=<9CL=MJ$FF=F<=KdKL=JJ=A;@AK;@=F -MF<>MFCK<MJ;@<9K*-! "=K=LRe:=JLJ9?=FO=J<=F J=;@L>=JLA?=F<A=.A;@=JMF?<=J!J=A@=AL<=JBGMJF9DA

KLAK;@=F=JM>K9MKe:MF?MF<<A=1=J9FC=JMF?<=J A?=FN=J9FLOGJLDA;@C=AL<=J-=<9CL=MJ$FF=F<MJ;@<A=K=K .L9LML S &) )763=F7GDEEF3FGF

$E&) 7E7FLAKLFA;@LFMJ.GJ?>9DL<=JBGMJF9DAKLAK;@=FJ:=ALN=J9FC=JL 9M;@<A=!J=A@=AL<=J=JA;@L=JKL9L

LMF?AKL?=K=LRDA;@?=J=?=DL X=J^KL=JJ=A;@AK;@=-MF<>MFCMF<K=AF=/G;@L=J?=K=DDK;@9>L=F@9:=F<A=0F9:@aF?A?C=ALMF< A?=F

N=J9FLOGJLDA;@C=AL9DD=JHJG?J9EE?=KL9DL=F<=F(AL9J:=AL=J$FF=FKGOA=<A=!J=A@=AL<=JBGMJF9DAKLAK;@=F =JM>K9MKe:MF? 9DD=J BGMJF9DAKLAK;@=F (AL9J:=AL=J$FF=F :=A =KGJ?MF? 9DD=J A@F=F e:=JLJ9?=F=F M>

?9:=FAE-9@E=F<A=K=KMF<=K?=K=LR=KRM:=9;@L=F A=BGMJF9DAKLAK;@=F(AL9J:=AL=J$FF=F<eJ>=FAF MKe:MF?A@J=J/aLA?C=ALAFK:=KGF<=J=FA;@LN=J@9DL=FO=J<=F =LO9K9:RM>9KK=FG<=JRMN=J9FLOGJL=F  O9K <=J !J=A@=AL <=J BGMJF9DAKLAK;@=F =JM>K9MKe:MF? OA<=JKHJA;@L  MK =AF=J ?=J=;@L>=JLA?L=F 2=A?=

JMF?<9J>A@F=FC=AF)9;@L=AD=JO9;@K=F S &) 7E7FLM  




2146.+%*' '46'

IS<73-2,/./?>/>R00/8>63-2</-2>63-2/< "?8.0?854/./80+66=.3/?01+,/1/7NJ ./7"?8.0?851/=/>D7R163-2=>?70+==/8. 9,4/5>3@?8.+5>?/66D?,/<3-2>/8E

+/1".  -,.0

=Jd>>=FLDA;@ J=;@LDA;@=M>LJ9?OAJ<AE.HGJL:=J=A;@ NGJF=@EDA;@9F@9F<NGFRO=A!9CLGJ=F<GCME=FLA=JL F<=F?JGZ=FHM:DACMEKOAJCK9E=F.HGJL9JL=F 9:=J 9M;@9FB=F=F.HGJLK=?E=FL=F <A=AF<=J^>>=FLDA;@

C=ALFA;@LKGKL9JCO9@J?=FGEE=FO=J<=F <A=G@F= !=JFK=@HJaK=FRC9MED=:=FK>a@A?OaJ=F  =?AFF=FOAJEAL<=F?JGZ=FHM:DACMEKOAJCK9E=F .HGJL9JL=F <A=AE*-!=AF=E:J=AL=F+M:DACMEF9@= ?=:J9;@LO=J<=FCdFF=F 9KK<=J*-!9DKd>>=FLDA;@

J=;@LDA;@=J-MF<>MFC<9:=AK=AF=F!GCMK9M><A= dKL=JJ=A;@KH=RA>AK;@==JA;@L=JKL9LLMF?JA;@L=L AKL 9F@9F<NGFNA=D=F=AKHA=D=FRM<GCME=FLA=J=F  59@DJ=A;@=.HGJL=J=A?FAKK= OA=>B;@7D*=;EBADF  *=;EBD;@97@ K=D:KLN=JKLaF<DA;@GV43>> 9:=J9M;@ AD?7> LJ9?=FAE*-!<A=K=FLQHAK;@dKL=JJ=A;@A

K;@=F.L=EH=D  1A=D=<A=K=J.HGJL=J=A?FAKK=KAF<9M;@:=AFA;@L d>>=FLDA;@ J=;@LDA;@=F.=F<=JF=AFOA;@LA?=K/@=E9  =J?J9NA=J=F<=0FL=JK;@A=<AKL<A=9:KGDMLG:B=CLAN= MF<K=JAdK==JA;@L=JKL9LLMF? 9M><A=?=J9<=AE &) *BADF:=KGF<=J=J2=JL?=D=?LOAJ< %GMJF9DAKLA

K;@="=F9MA?C=AL 9:KGDML=CLM9DALaL 9:=J9M;@MK

?=OG?=F@=AL KAF<<A=-A;@LDAFA=F>eJ<A==JA;@L=J

KL9LLMF?AE*-!  )=:=F<A=K=F9:KGDML=F+M:DACMEKJ=FF=JF?A:L=K 9M;@<A=NA=D=F9F<=J=F.HGJL9JL=F <A=AE+JG

?J9EE=:=F>9DDK=Je;CKA;@LA?MF?>AF<=FMF<<9EAL =AF=J:J=AL=F^>>=FLDA;@C=ALRM?aF?DA;@?=E9;@LO=J

<=F 9KK<9EAL9M;@%M?=F<DA;@=RMJMKe:MF?NGF <AN=JK=F.HGJL9JL=F9FAEA=JLO=J<=F DA=?L9M><=J #9F< 59@DJ=A;@=F.HGJL9JL=FOeJ<=G@F=<A=+JaK=FR AF=AF=EKL9JC=Fd>>=FLDA;@ J=;@LDA;@=F/1 +JG?J9EE



<A=9KAK=FLRG?=FO=J<=F =FFFMJ<MJ;@<A=M>

LJALL=AF<AN=JK=F!=JFK=@K=F<MF?=FCdFF=FKA;@ <A=K=.HGJL9JL=F.HGFKGJ=FKM;@=FMF<<9EAL >AF9FRA=J=F MJ;@<A=9MK?=OG?=F=.HGJL =JA;@L

=JKL9LLMF?OAJ<9:=J9M;@9DDB=F=FL@D=L$FF=F <A= NA=D=/J9AFAF?KKLMF<=FA@J=J.HGJL<AKRAHDAFOA<E=F  <A=(d?DA;@C=AL?=:GL=F KA;@=AF=J:J=AL=F^>>=FL

DA;@C=ALNGJRMKL=DD=F  9KK<=J&) *BADF9M;@AEE=JOA=<=J9M> J=A?FAK

K= <A=>eJ<=FdKL=JJ=A;@AK;@=F.HGJLOA;@LA?KAF<  K=@JJ9K;@J=9?A=JL @9L=JAF<=J1=J?9F?=F@=ALE=@J

>9;@:=OA=K=F 9K%9@J EAL=AF=J!eDD=9F@G;@

C9JaLA?=F J=A?FAKK=F OA=<=J>B;@7@*=; .7>F?7;E F7DE5:38FAF9J= <=J%AD6;E5:7@*=; .7>F?7;EF7D E5:38FAF.9HHGJG @9L<A=-GDD=<=K*-!9DKOA;@LA?=J /Ja?=J>eJ.HGJL J=A?FAKK=MFL=J:=KGF<=J=J=Je;C

KA;@LA?MF?<=K^KL=JJ=A;@ =RM?KMFL=JKLJA;@=F  9K+M:DACME=JO9JL=LNGE*-! <9KK=K?=J9<=AE .HGJLK=@JME>9KK=F<AF>GJEA=JLOAJ< $KL<=J*-!=AF

E9D9MKJ=;@LDA;@=F"JeF<=F:=A=AF=E?JdZ=J=F .HGJL=J=A?FAKFA;@L<A=e:=JLJ9?=F<=FKL9DL KGAKL <A= FLLaMK;@MF?:=A<=F5MK;@9M=JFE=AKL?JGZ  A=KAKLNA=DD=A;@L<=JE9JC9FL=KL=0FL=JK;@A=<RMHJA

N9L=FG<=J9MKDaF<AK;@=F!=JFK=@9F:A=L=JF OGKA;@ <9K+M:DACMEDaF?KL<9J9M>=AF?=KL=DDL@9L <9KKFMJ <9K=AF=G<=J9F<=J= J=A?FAKO9@J?=FGEE=FOAJ<  !eJEA;@:=<=ML=Ld>>=FLDA;@ J=;@LDA;@=J-MF<>MFC B=<=F>9DDK<A=M>?9:=?=EaZ<=E-MF<>MFC?=K=LR Ed?DA;@KLME>9KK=F<G:B=CLANMF<9CLM=DDRM:=JA;@L=F  $;@N=JKM;@=9M;@H=FA:=D<9J9M>RM9;@L=F <9KK<A=K= &JAL=JA=FAF<=J=JA;@L=JKL9LLMF?=AF?=@9DL=FO=J<=F

+/1".


X.HGJLe:=JLJ9?MF?=FKAF<E=@J9DK0FL=J@9DLMF?(AL<=E.HGJLO=J<=F2=JL=OA=!9AJF=KK  AF@9DLMF?NGF -=?=DF $FL=?J9LAGFNGFMKDaF<=JF /=9E9J:=ALMF<'=AKLMF?N=J:MF<=FS  ADEF$ *5:7>>:33V*BADF3>E+7;>67E^887@F>;5: D75:F>;5:7@'DA9D3??3G8FD397E,@;H7DE;F[F"^>@

.HGJLe:=JLJ9?MF?=F MF< 9CLM=DD= KGOA= N=JLA=>=F<= =JA;@L=JKL9LLMF? e:=J .HGJLKAF<LJ9?=F<=J=KL9F<L=AD<=K*-! F?=:GLK #:9<>+7#988>+1;9  

 0@J  <9K 'AN= .HGJLE9?9RAF  :=JA;@L=L e:=J <A= /@=E=F <=J 2G;@=  <9K#:9<>36..GFFL9?(ALL9?N=JKL=@LKA;@9DK+D9LL>GJE>eJ.HGJL9JL=F <A= FA;@LRM<=F#9MHLKHGJL9JL=F?=@dJ=FMF<:A=L=L9M;@=AF=F_:=J:DA;Ce:=J <=FJ=AL=FKHGJLAF<=FMF<=KDaF<=JF  #:9<>:JAF?LLa?DA;@ME 0@J9M>*-! <9K9CLM=DD=.HGJL /9?=K?=K;@=

@=FMF<CGFFL=<MJ;@<A=+JG?J9EEJ=>GJE=AF=<=MLDA;@= J@d@MF?<=J5MK=

@=JR9@D=F=JJ=A;@=F1GE HJAD:AK  =R=E:=J

=JJ=A;@L=E9F9M> <=EF=M=F.=F<=HD9LR<MJ;@K;@FALLDA;@ 

5MK=@=J$FF=F 

   ='464#7'0

2146$'4+%*6'+/

M><=F=J=A;@*BADF=FL>A=D=FAFK?=K9EL  .LMF<=F=JA;@L=JKL9LLMF? <9NGF  .LMF<=F'AN= _:=JLJ9?MF?=F<AN=JK=J.HGJLN=J9FKL9DLMF?=FGV43>> *=; AD?7>  M N E AF*-!MF<*-! @=J9MKJ9?=F<O9J

<A=*=; .$AF9J=  $F<=F.HGJL>Da;@=FNGF*-!OMJ<=F9M;@GCME=FL9LAGF=F9MK?=KLJ9@DL  OA==LO9<A=

EAFeLA?=.=F<MF?e:=J<A=*B75;3>&>K?B;5EAF.@9F?@9A9E *CLG:=JMF<<A=GCME=FL9LAGFe:=J<A=&J=:K=JCJ9FCMF?<=K=@=E9DA

?=F.CAKHJAF?=JKJEAF&G?D=J9E =R=E:=J =E+@aFGE=F<=J"=O9DL AF<=F!MZ:9DDKL9<A=FO9J<A=GCME=FL9LAGF;76G@=>7*7;F767EGV43>>E NGF+=L=J'AKC99E )GN=E:=J9M><=J.HMJ 

XA= .HGJL:=JA;@L=JKL9LLMF? KGDD <MJ;@ _:=JLJ9?MF? NGF 1=J9FKL9DLMF?=F MF< +JaK=FL9LAGF NGF CL=MJ$F

F=F9MK<=E=J=A;@N=JK;@A=<=F=J.HGJL<AKRAHDAF=F9M;@RMJ!dJ<=JMF?<=K$FL=J=KK=K<=J=NdDC=JMF?9F 9CLAN=JKHGJLDA;@=J=LaLA?MF?:=ALJ9?=F KA=AKL<9>eJ9:=JFA;@L9MKJ=A;@=F< A=M>>GJ<=JMF?RMJ9CLAN=F KHGJLDA;@=F=LaLA?MF?EMKKAF=J?aFR=F<=F+JG?J9EE=D=E=FL=FN=JEALL=DLO=J<=F $F.HGJLK=F<MF?=FKGDD AEE=JOA=<=J<A=OA;@LA?=-GDD=<=KJ=AL=FKHGJLKAEA=FKL<=J1GDCK?=KMF<@=AL:=LGFLMF<<A==RA=@MF? ROAK;@=FJ=AL=F MF<.HALR=FKHGJLMF<<=J=F?=K=DDK;@9>LDA;@==<=MLMF?=JCDaJLO=J<=F @9MNAFAKLAK;@=F /=F<=FR=FAE.HGJLAKL=FL?=?=FRMOAJC=F MKOe;@K==PLJ=E=J.HGJL9MKe:MF?G<=JCGEE=JRA=DD=J.HGJLAF

L=J=KK=FKAF<9DKKGD;@=9M>RMR=A?=F S 'DA9D3??D;5:F>;@;7@67E&)7EF3>FG@9E9DG@6E[FL78_D7;@L7>@7'DA9D3??=3F79AD;7@

!"!#$"-:?-1<-:<,);6/-*7<

M;@

:A=L=L<=J=A?=F=.H9JL=FC9F9D*-!.+*-/+'0.RM>=KL?=D=?L=F 5=AL=F9M><=J!J=IM=FRNGF/2<A=(d?DA;@C=ALRM=AF=JMKO=ALMF?<=K+JG

?J9EE9F?=:GL=K 9<MJ;@>AF<=F9M;@O=FA?=JE9KK=FOAJCK9E=.HGJL9JL=F A@J= 5MK=@=J$FF=F  *-! .+*-/ +'0. DA=>=JL= AE %9@J

 AFK?=K9EL   .LMF<=F.HGJLHJG?J9EE <9KO9J=F .LMF<=FE=@J9DKAE%9@J

;87:<!)<

(AFML=F9CLM=DD=  F9LAGF9D= MF< AFL=JF9LAGF9D= .HGJLF9;@JA;@L=F :A=L=L <=J *-!9M>EBADF &) 3F 9KME>9F?J=A;@=$F>GJE9LAGFKHGJL9D:A=L=LF=:=F9C

LM=DD=F )9;@JA;@L=F 9M;@ #AFL=J?JMF<:=JA;@L= MF< F9DQK= RM E=@J 9DK

 .HGJL9JL=FMF<AKL=AF=<=JE=AKL?=D=K=F=F.=AL=FAE2=: F?=:GL<=K*-!


'464#7'0?#-67'..'0(14/#6+10 '+6'4'1214/#6'

-=<-16G;<-::-1+0

2=J OAKK=F OADD  O9K ^KL=JJ=A;@K -=?AGF=F :=O=?L MF< OGJe:=J ^KL=JJ=A;@ J=<=L =J>a@JL=KK=AL HJAD

NGF(GFL9?:AK!J=AL9?ME 0@JAF *-! 7GF7;@XEF7DD7;5:R=A?L#AFL=J?JeF<=MF<5MK9EE=F@aF?=MF<:=

JA;@L=L e:=J 9DD= /@=E=F 9MK <=F MF<=KDaF<=JF  X(=FK;@=F =JRa@D=F "=

K;@A;@L=FSAKL<9KR=FLJ9D=(GLLGAE.=F<MF?KD=AL:AD<  KKGDDHJAEaJ9MK.A;@L <=J=LJG>>=F=F FA;@L<=J+GDALAC=J$FF=FG<=J PH=JL$FF=F:=JA;@L=LO=J<=F  A=F=M=.=F<MF?=L9:DA=JL=KA;@J9K;@:=AE+M:DACMEKA=@=.=AL=

1->1-4;+01+0<1/-66.7:5)<176;"-:>1+-;)=.!)< 81/,9>       

  

G= *-! 9L       G= *-! 9L $F>GJ9<AG >E *-! 9L   K;A=F;= *-! 9L  >MLMJ=RGF= *-! 9L  G= *-! 9L   CAF<=J *-! 9L      @=DH *-! 9L   J=DA?AGF *-! 9L  NGDCK?JMHH=F *-! 9L    

#>9<C= /3><N1/

 

#>9<C= /3><N1/



$2/7+

                     

                                   

(MKAC /@=9L=J 'AL=J9LMJ AD<=F<=&MFKL  $F>GJE9LAGF /J9FKCJAHL=<=J=ALJa?=9MK<=F^ %GMJF9D=F &MDLMJ %M?=F< 2AKK=FK;@9>L /=;@FGDG?A= 5MCMF>L /=D=CGEEMFAC9LAGF 0FL=J@9DLMF? +GHCMDLMJ %M?=F< (=<A=F9<aIM9L=M>:=J=ALMF?NGF$F@9DL=F<=K *-! &AF<=JHJG?J9EEK &GFKME=FL=FAF>GJE9LAGF=F )9;@JA;@L=F /@=E=F9MK<=E=J=A;@-=DA?AGF )9;@JA;@L=F /@=E=F<=JdKL=JJ=A;@AK;@=F 1GDCK?JMHH=F

!##'#=6,!=4<1#-@<

=J&)+#+/+:A=L=LME>9KK=F<=MF<9CLM=DD=)9;@JA;@L=F 2=LL=J MF< .HGJLAF>GJE9LAGF=F 

@9:=FKA;@<MJ;@K;@FALLDA;@ (AG ^KL=JJ=A;@=J

$FF=FRMEAF<=KL=AFE9DHJG2G;@=NA9&)+#+/+AF>GJEA=JL <9EALOMJ

<=F +JGR=FL<=J=NdDC=JMF?e:=J %9@J=F=JJ=A;@L +JG(GF9L@9LL=<=J &)+#+/+<MJ;@K;@FALLDA;@ (AG '=K=J$FF=F <9K=FLKHJA;@LCF9HH<=J #aD>L=<=J?=K9EL=F/1 )MLR=J$FF=F 9EAL?=@dJL<=J&)+#+/+>eJ?JG

Z=/=AD=<=J=NdDC=JMF?RM=AF=JJ=?=DEaZA??=FMLRL=F$F>GJE9LAGFKIM=DD=  A=:=KL?=FMLRL=FF?=:GL=<=K&)+#+/+O9J=FF=:=F<=J AFKLA=?K

K=AL==AFE9DE=@J<A==J=A;@=*BADF 'A>;F;= :DA@;= 7D@E7:7@MF<.7FF7D  =J&)&"$G>F;+7JF:A=L=L>eJ$F@9:=JNGF- + GP=F=:=F>9DDK9CLM=DD=  9MK>e@JDA;@=MF<EMDLAE=<A9D=(=D<MF?=FRM%35:D;5:F7@ .7FF7DMF<*BADF


   ='464#7'0

 

+#!*3*!)*%! *) %*!#,&%(&# +#!*3*!)*)-))! '&)!*!,,&%%&*% (!%) (+$ *+%+#!*3*!)*))##) -)-!(*+%,(#3))#! +% #+-5(!!)* %,*/ .1". 5".&/ %".1+!#1+(




=.<:)/  







 

-1;<=6/ 











'=:=FK@AD>= -9L $F>GJE9LAGFMF<  #AD>=AEDDL9?

9CLM=DD= :eJ?=JF9@=  J=9DALaLKF9@=$F>GJE9LAGF

-0:?-:< "!%.K:)44-

G.+.7<+.;*=>700.1O;=C>>7<.;.6>/=;*0D $854.;.;;.<;80;*66-2;.4=8;;<=.<.>=<,1.<.;7<.1.7




^>>=FLDA;@ J=;@LDA;@=J.=JNA;=AE*-!:=<=ML=LCGFCJ=L= #AD>=>eJ<A=+JG:D=E=AFJ:=ALMF<!J=AR=AL &GFKME=FL=F

K;@MLRAF9DD=F(=<A=F CLM=DD= RMN=JDaKKA?=$F>GJE9LAGF AE1=JC=@J -9LMF<0FL=JKLeLRMF?>eJ&AF<=JMF< DL=JF  /AHHK>eJ<A==OaDLA?MF?<=K'=:=FKO=FF<A="=KMF<

@=ALRME+JG:D=EOAJ< 2=FF<A==<A=FMF?K9FD=ALMF?<=K DDL9?KMFN=JKLaF<DA;@AKL

:)3<1;+0-:=<B-6 

$F>GJE9LAGF9DK.GRA9D 2=JL>eJB=<= F AFR=DF= F




'48+%'70&1057/'06'05%*76<? &'4 7(64#)&'5

G.;*-.27&.2=.7C>7.16.7-.;".>.;>70>7- 27=.;7*=287*5.;$.;7.=C>70-.;%2;=<,1*/=  58+*52<2.;>702<=.<-.7.7<,1.7266.; @2,1=20.;.27.?.;5N<<52,1.7/8;6*=287<:>.55. C>1*+.7-2.-*;P+.;><4>7/=02+=@*<!*,1. 2<=>7-@2.6*7*>,1*5<F45.27.;P;0.;7)-.7 >705.2,1.7*69/0.0.7@2;=<,1*/=52,1P+.; 6N,1=20..07.;0.@277.74*77D

!3&+</". ,+(."0

2=JK=AF=eJ?=J MF<&GFKME=FL=FJ=;@L=C=FFL O=AZ O9KX"=Oa@JD=AKLMF?SMF<X29F<DMF?S:=<=ML=F O=J :=AE'=:=FKEALL=D=AFC9M>=AFCJALAK;@=KM?=9M><9K &D=AF?=<JM;CL=9M><=J1=JH9;CMF?MF<9M><A=$F@9DLK

KLG>>=OAJ>LV9DD=KAF9DD=E O=J9DKEeF<A?= J&GFKM

E=FL$F=AFC9M>=F?=@LVAKLEALRA=EDA;@=J.A;@=J@=AL=AF (AL?DA=<<=JAEE=J?JdZ=JO=J<=F<=F.=@=J$FF=F !9EA

DA=NGF"A@=D7F $E=J=A;@"A@EG?7@F7@E5:GFL9J:=AL=L<A="A@=D7F

-=<9CLAGF=F?EAL<=FOA;@LA?KL=F1=J:J9M;@=JK;@MLR

GJ?9FAK9LAGF=FRMK9EE=F<=FD47;F7D=3??7D@ <=E -7D7;@8_D"A@EG?7@F7@;@8AD?3F;A@ <=E"A@EG?7@F7@ ?;@;EF7D;G? <=FGFA83:D7D5>G4E *F;8FG@9.3D7@F7EF  X=AF7EF MEFMJ=AFA?=RMF=FF=F )=:=FR9@DJ=A;@=F/=KLKKL=@=F PH=JL$FF=F<A=K=J *J?9FAK9LAGF=F9DK-9L?=:=J9M><=J.=AL=<=J&GFKM

E=FL$FF=F <A=KA;@G>LN=JRO=A>=DL9FMFKO=F<=F  2A;@LA?AKLMFK9DK-=<9CLAGFFaEDA;@<=JKLaF<A?= A9DG?EALMFK=J=F5MK=@=J$FF=F /a?DA;@LJ=>>=FAF <=J"A@=D7F -=<9CLAGFR9@DJ=A;@= (9ADK JA=>=  9:=J9M;@1A<=G:aF<=J=AF EAL<=F=F=LJG>>=F=9M> A@J=+JG:D=E=9M>E=JCK9EE9;@=F X-A?=>7;@7@ WD97D4;ELG?9DAV7@*=3@63>S KGMFK=J==NAK= $F NA=D=F!aDD=FC9FFOAJCDA;@O=AL=J ?=@GD>=FO=J<=F  NA=D=!aDD=O=J<=FN=J>ADEL ME<A=+JG:D=E=9M;@ F9;@NGDDRA=@:9J<9JKL=DD=FRMCdFF=F  =FF<A=+JG:D=E=MFK=J=J5MK;@9M=J$FF=FKAF< E=AKLC=AF= AFR=D>aDD=4LA5=7@35:67?G8DG8 3@974>;5:=AEF7@8D7;7DA?7B397E;? @F7D@7FVRM



<A=K=E/@=E9=JJ=A;@L=FMFKE=@J9DKL9MK=F<a@F

DA;@D9ML=F<=#AD>=JM>= \@FDA;@?JGZKAF<<A=+JG:D=

E=EAL+7>7=A??G@;=3F;A@E ,@F7D@7:?7@ %35::3>F;9=7;FMF<<=J^=A>A9;E5:7,?93@9KAF<OA;@

LA?="A@=D7F /@=E=F.;@GFAF<=F=JKL=F2G;@=FAE HJAD KM;@L="A@=D7FF9;@<=EMEO=DLK;@GF=F<K

L=FMLG  ?AH>=DL<A=K=K.=F<MF?KHJAFRAHAE?JG

Z=FXEF7DD7;5:;E5:7@">;?3E5:GFLBD7;E =KGF<=J=FFCD9F?>AF<=F9M;@$76;L;@ MF<*7DH;57 47;FD[97)=M=*H=J9LAGFKE=L@G<=F <A=29@D<=KJA;@

LA?=FJRL=KMF<=AF=.=JA=e:=J<A="=>9@J=FNGF .;@dF@=ALKGH=J9LAGF=F?=@dJ=F:=AE+M:DACMERM<=F #A?@DA?@LK A=/=D=>GF=<=K&) "G@67@6;7@EF7EMF<AF MFK=J=J-=<9CLAGFX?De@=FS:=AHJ9CLAK;@=F/AHHK )MEE=J=AFK<=J#ALH9J9<=<=JF>J9?=FAKL<A=<J=KK= <=K-=H9J9LMJF=LRO=JCK)7B3D;7D7@EF3FF.79I7D87@ <A;@L?=>GD?LNGF=AF=E=ALJ9?e:=J#7;5:F>3G8^>7>eJK MLG <A=C=AF=F^DO=;@K=DE=@J=J>GJ<=JF +=JKH=CLAN=FMF<1AKAGF=F JO=AL=JMF?<=K.=JNA;=9F

?=:GLK<MJ;@=AF=RMKaLRDA;@=-=A@=XA35:;@9+-S>eJ HJ9CLAK;@=/AHHKRMJHGKALAN=F1=JaF<=JMF?=AF=J '=:=FKKALM9LAGFR  );5:F;9EB3D7@ D47;FEEG5:7=L;  MF<"A@=D7F9DK+D9LL>GJE>eJX'G4>;5 @F7D7EFDA36 53EF;@9SV9DKG!=JFK=@=FAEd>>=FLDA;@=F$FL=J=KK=  A=1=J9FKL9DLMF?<=K^EF7DD7;5:;E5:7@">;?3E5:GFL BD7;E7E

AKL=AF=JKL=J.;@JALLAF<A=K=-A;@LMF? 

!3&+</".


-48D,-:76;=5-6<-6;+0=<B4);;13-:>76G 

.9EKL9? NGJ <=E $;FF39E<AGD@3>    0@J AKL >eJ CJALAK;@= &GFKME=FL$F

F=F -9<AG 5=AL  &GEH9CL AF  (AFML=F :=J=AL=L <9K:7>B /=9E <A= J=D=N9F

L=F)=MA?C=AL=F9M>=JA;@L=JKL9LLMF? .=JNA;=MF<$FL=J=KK=FN=JLJ=LMF?>eJ &GFKME=FL$FF=F V NGF CD=AF=J=F DDL9?KHJG:D=E=F :AK RME #9MK:9M  NGF "=Oa@JD=AKLMF?K :AKRMeJ?=JJ=;@L=F A=-=<9CLAGF:=JA;@L=LMF9:@aF?A?  =F?9?A=JL MF< CGFK=IM=FL >eJ 9DD= ^KL=JJ=A;@=J$FF=F 3F7@E5:GFL  )75:FE 8D397@ #747@E?;FF7>MF<"A@EG?7@F7@E5:GFL47;7>697E5:[8F7@O9J=F9M;@

OA=<=JR=FLJ9D=/@=E=F 

0-48!)<D76;=5-6<-616.7:5)<176,-;!15&&& :7>B &) 3F:A=L=LAF5MK9EE=F9J:=ALEAL:7>BMF<<=F"A@EG?7@F7@E5:GFL AD93@;E3F;A@7@ ME>9KK=F<= &GFKME=FL=FAF>GJE9LAGF  =J9LMF? MF< #AD>=

KL=DDMF?=F :=JA;@L=LNGF<=F J?=:FAKK=FNGF+JG<MCL MF<29J=FL=KLKMF< AF>GJEA=JL9CLM=DDe:=J>eJ1=J:J9M;@=J$FF=FAFL=J=KK9FL= FLOA;CDMF?=F 

   ='48+%'

'48+%'?'*49'46&'4*+.(6

$2/7/8=-2A/<:?85><8N2<?81 .7776F:7.AD>6O9J9E (aJR

EAL:AKRM 

5MK;@9M=JFAE*-! !=JFK=@=F<=J=J>GD?J=A;@KL= dKL=JJ=A;@AK;@=GCME=FL9JTDE9DD=J5=AL=F .78776F:7.AD>6?A:LAF=AF<JM;CKNGDD=FAD<=JF AF:DA;CAF<A= +JG<MCLAGFMFK=J=J'=:=FKEALL=DKGOA==JKL=FLOGJL=F9M><A=!J9?= O9K<=J#MF?=J9M><=J2=DLEALMFKRM LMF@9L (AL<=F/@=E=FD;5:F;97 97EG@67D@[:DG@9 ;ABDA6G=F7KGOA=7FF7G@6X>7AF<=F/1 (9?9RAF=F O=;CL=<=J+:7?7@E5:I7DBG@=FFA;@LFMJ<9K$FL=J=KK=R9@DJ=A;@=J/1 5MK=@=J$FF=F  JLJM?9M;@=AF=F?M

L=F/=ADRMJ=OMKKLK=AFK:AD<MF?:=A  =J J>GD?AF59@D=F$FK?=K9EL (AG ^KL=JJ=A;@=J$FF=F@9:=FRMEAF<=KL=AF=F/=AD<=K.;@O=JHMFCLKAE *-! !=JFK=@=FN=J>GD?L <9KKAF<JMF<RO=AJALL=D<=JeJ?=J$FF=F9: %9@J=F 

763:-<D);"-:>1+-5)/)B16

9K.=JNA;=E9?9RAF(GFL9?:AK!J=AL9?  0@J *-! DdKL=EAL<=J+JG

?J9EEJ=>GJE<9K:AK@=JA?=GF47D3F7@XEF7DD7;5:9: "A@=D7FQ3E*7DH;57 ?393L;@<=;CL<9K/@=E=FKH=CLJMED47;F "3DD;7D7 GE G@6.7;F7D4;>6G@9  D47;FE G@6*AL;3>D75:F #747@E?;FF7> %3FGDG@6,?I7>F9: 9K.=JNA;=E9

?9RAF:=@9F<=DL+JG:D=E= <=K La?DA;@=F '=:=FK >e@JL/=KLKNGF+JG<MCL=F MF<A=FKLD=AKLMF?=F<MJ;@ ?A:L/AHHKMF<*JA=FLA=JMF?K@AD>=F>eJ<9KLa?DA

;@='=:=F 

&-<<-:>7:0-:;)/-15!

$F<=F:=A<=F2=LL=JJ=<9CLAGF=FNGF-9<AGMF</19J:=AL=F>9KL9MKK;@DA=Z

DA;@ BGMJF9DAKLAK;@ 9MK?=:AD<=L= !9;@E=L=GJGDG?$FF=F  .A= :=RA=@=F E=@J

E9DK La?DA;@ HJG>=KKAGF=DD=K 9L=F  MF< +JG?FGK=E9L=JA9D NGF <=F 2=LL=J

<A=FKL=F 1$ MF< GEFDA5A@FDA>   2=K=FLDA;@=K D=E=FL <=J D9M>=F< 9CLM9DAKA=JL=F=JA;@L=JKL9LLMF?AKL<A=KLaF<A?=_:=JO9;@MF?<=K2=LL=J?=

K;@=@=FK OG<MJ;@9M;@?=F9M=J=&MJR>JAKLHJG?FGK=FKG? X%AI53EF;@9ES Ed?DA;@O=J<=F O9K:=KGF<=JKAEK;@F=DD=F(=<AME)36;AOA;@LA?AKL  .G?A:L=KR  AE#ALJ9<AG^ EALCeJR=KL=J1GJD9M>R=AL29JFMF?=FNGJ?=>a@J

DA;@=F.ALM9LAGF=FOA=#9?=D "D9LL=AKG<=J.LMJE




'570&*'+6#.5 D(('06.+%*4'%*6.+%*'1/2'6'0<

G#@.2=6P<<.7O//.7=52,1;.,1=52,1.!.7-.;21;.7 0.<.55<,1*/=52,1.7.1;@.;=;.,1=/.;=20.72=-.6 "1.6*.<>7-1.2=2<=-.; <.27.6>+52,$*5>. >/=;*07N1.;*5<62=3.-.6*7-.;.7"1.6*D

& .!"&+&/ %   "/1+!%"&0/(,*-"0"+66"+0.1*

=J*-!AKL=AF=d>>=FLDA;@ J=;@LDA;@=(=<A=F9FKL9DL <A= KA;@AF=AF=ENGFAEE=JKLaJC=J=JHJAN9L=J&GFCMJJ=FR ?=HJa?L=E0E>=D<RM:=@9MHL=F@9L A=GDAB[;E5:7 "A??;EE;A@@9L<9@=J =AF>eF>%9@J=<9M=JF<=K CLAGFKHJG?J9EEAFK'=:=F?=JM>=FX=F;A@EBDA 9D3??67D7?7;@E5:38F;?7D7;5:67D^887@F>;5:7@ 7EG@6:7;FS <9K9DKR=FLJ9D=K/@=E9>eJ<A=d>>=FLDA;@

J=;@LDA;@=F.=F<=J=AF=ME>9KK=F<=M> MF< J9J:=A

LMF?<=J?JGZ=F/@=E=F7EG@6:7;F .7>>@7EE@9L 9K$FL=J=KK=9F"=KMF<@=ALOAJ<AEE=J?JdZ=JMF<<A= =NdDC=JMF?GJA=FLA=JLKA;@AEE=JE=@J9E.=JNA;=;@9

J9CL=J<=J(=<A=F NGJ9DD=EAE=J=A;@7EG@6:7;F  (AL<=E/@=E97EG@6:7;FAKL<=J*-!K=AF=E'G4>;5 -3>G7 M>LJ9?Fa@=J9DKEALB=<=E9F<=J=F/@=E9 MK<A=K=E"JMF<OMJ<=:=J=ALKEALHJAD AF<=J #9MHL9:L=ADMF?;>6G@9G@617;F97E5:7:7@=AF= 7EG@6:7;FED763=F;A@AFKL9DDA=JL <A==ALJa?=RM E=<ARAFAK;@=F/@=E=F>eJ<A=.=F<MF?D_:>;@9E *A? ?7D 7D4EF .;@F7DL7;F?=KL9DL=L 5MJK=D:=F5=ALOMJ<=F*>> AJ 7EG@6:7;FEF3>=EAFK '=:=F?=JM>=F <A=NA=J :AKK=;@KE9DHJG%9@JAE )36;A"G>FGD:3GERM?JGZ=FE=<ARAFAK;@=F/@=E=FOA= R  *5:?7DL ;347F7E 7DL "D7;E>3G8 D=D3@=G@97@ AF!GJENGF&MJRNGJLJa?=FNGF PH=JL$FF=FMF< 9FK;@DA=Z=F<=J!J9?= MF<AKCMKKAGFKEd?DA;@C=AL>eJ <9KAFL=J=KKA=JL=+M:DACME <MJ;@?=>e@JLO=J<=F

$F<=J!GD?=O9J=F=K5A=DMF<M>LJ9?<=J7@7D3>  6;D7=F;A@ =AF&GFR=HLRME/@=E9X7EG@6:7;F;?&)S RM=J9J:=AL=F A=K=K&GFR=HLOMJ<=AE.=HL=E:=J  HJaK=FLA=JL  DK&GFK=IM=FR<9J9MKOMJ<=AE=R=E:=J  <=J&) 7EG@6:7;FE47;D3FMFL=J<=J'=ALMF?NGF 0FAN +JG> J .A=?>JA=<(=JQF=AF?=JA;@L=LMF<<9K &) 7EG@6:7;FE=A?B7F7@LL7@FDG??=K;@9>>=F <9K MFL=JE=AF=J'=ALMF?<=F7EG@6:7;FE47;D3FMFL=JKLeLRL MF<9DK.;@FALLKL=DD=ROAK;@=F<=E=AJ9LMF<<=F=AF

R=DF=F*-! -=<9CLAGF=F9J:=AL=L  "D=A;@R=ALA?OMJ<==AF=9;@E9JC=>eJ"=KMF<@=ALAE *-!=FLOGJ>=F .,**+*,%AKLAE!=:JM9J (aJR  EAL=AF=J=JKL=F?JGZ=F @;F;3F;H7@ .A5:7RME ?JGZ=F/@=E97DL "D7;E>3G8 D=D3@=G@97@<=E+M:DA

CMEEAL?JGZ=E J>GD?NGJ?=KL=DDLOGJ<=F 1GJJ9F?A?=M>?9:=F<A=K=J @;F;3F;H7@ .A5:7@HJG%9@J KAF<RO=A?=HD9FLKAF<+JaN=FLAGFMF<"=KMF<@=ALK>dJ

<=JMF?MF<NA=D= 9M;@*>> 9AJ 1=J9FKL9DLMF?=F <A=<=E +M:DACME@=D>=FKGDD=F =AF?=KeF<=J=KMF<:=OMKKL=K '=:=FRM>e@J=F 2A;@LA?KL=M>?9:=F<=J-=<9CLAGF KAF<=AF=N=JKLaF<DA;@= K=JAdK=MF<G:B=CLAN=(=<ARAF

=JA;@L=JKL9LLMF?MF<=AF=?ML=&GEEMFAC9LAGFMF< 1=JF=LRMF?EAL!9;@J=<9CLAGF=F<=K#9MK=K 9K?JGZ=5A=D>eJ<A=5MCMF>LAKL=AF==A?=F=.,**+ *,% .=F<MF? <9EAL<9K?JGZ= 9FE=<ARAFAK;@=F MF<CGEHD=E=FLaJE=<ARAFAK;@=F/@=E=FAFL=J=KKA=JL= +M:DACME=AF>AP=K+JG?J9EE9F?=:GLNGJ>AF<=LMF<<9EAL 9M;@OA=<=JMEN=JKLaJCL9F<=F*-!?=:MF<=FOAJ< 

& .!"&+&/ % 


"+.39.95>9<G+=K /=?8.2/3>=7+1+D38

9KOd;@=FLDA;@=(9?9RAF(GFL9?  V  0@JEAL&MJR:=JA;@L=FRM9CLM

=DD=F"=KMF<@=ALKL@=E=F <9KL=ADO=AK=K9AKGF:=RG?=F="=KMF<@=ALK=EH>=@

DMF?=F$EH>MF?=F 1GJ:=M?MF?:=A=HA<=EAK;@=F&J9FC@=AL=F=JL=ADL =AKHA=D

@9>L5OAK;@=F %9FM9JMF< !=:JM9JOA<E=L=KA;@)36;A6A=FADQ3EX  7EG@6:7;FE?393L;@=AF=JdKL=JJ=A;@AK;@=FX1GDCKCJ9FC@=ALS <=E"AB8E5:?7DL  $F5MK9EE=F9J:=ALEAL<=JXEF7DD7;5:;E5:7@"AB8E5:?7DL97E7>>E5:38FHJaK=FLA=J

L=E9FAFNA=J!GD?=F<A=OA;@LA?KL=F!J9?=FMF<FLOGJL=F 1A=D=F#dJ=J$FF=F CGFFL=<A=2A;@LA?C=AL=AF=KJRL:=KM;@=K9M;@:=A=AF=JKGD;@9DDLa?DA;@=F&J9FC

@=ALOA=<=E&GH>K;@E=JRF9@=?=:J9;@LO=J<=F 



A=+@GF= AF .=F<MF?:A=L=LOd;@=FLDA;@(GFL9?   V 0@J-=HGJL9?=F G<=J'AN= AKCMKKAGF=FEAL.LM<AG?aKL=FAF^RM9CLM=DD=F"=KMF<@=ALKL@=E=F  AF=:J=AL=AKCMKKAGFOMJ<=AE.=HL=E:=J e:=J<A=!J9?==FL>9;@L G: >3G47MF<7EG@6:7;FAF-=D9LAGFKL=@=FCdFF=F 

   ='48+%'

'4#670)5%*#((6'464#7'0

<9J/=8>/</==/+8/=?8.2/3>=>2/7/8

MK=AF=JNGE*-! +M:DACMEKJ9L AFM>LJ9??=?=:=F"!& .LM<A=RME/@=E97EG@6:7;F;@67@$76;7@ ?=@L@=JNGJ ǯ'LHÂ&#x2DC;VWHUUHLFKHU,QQHQKHJHQHLQKRKHV,QWHUHVVHDP7KHPD7EG@6:7;F  ǯ(LQ)¾QIWHOGHU%HIUDJWHQJLEWDQDXIJUXQGGHU*HVXQGKHLWVEHULFKWHUVWDWWXQJLP25)]XPLQGHVWJHOHJHQWOLFKGDV =A?=F=1=J@9DL=F?=aF<=JLRM@9:=F  ǯ%HVRQGHUV6HQGXQJHQPLW*HVXQGKHLWVVFKZHUSXQNWHQZLH.;>>=A??7@XEF7DD7;5:@=ML=D_:>;@9E *A??7D  7D4EF .;@F7DL7;F=J>J=M=FKA;@?JGZ=J=DA=:L@=ALMF<M>E=JCK9EC=AL 

$2/7/8=-2A/<:?85><8N2<?81 /6:$&D?<8N2<?81=0<+1/8 $E(aJR

KL9F<9J:9J9.Ld;CDK7>B+-?9FRAE5=A;@=F<=K&) +:7?7@E5:I7DBG@=FD@[:DG@9  PH=JL$FF=F<AKCMLA=JL=FMF<AF>GJEA=JL=Fe:=J1G5=7DG@67FF 7E5:?35=EH7DEF[D=7D <=F;A4AA? e:=JK 4@7:?7@MF<e:=JEE7@63EG@E=D3@=?35:F 9J:9J9.Ld;CDK"aKL=AE.LM<AGO9J=F=LO90<G+GDDE=JMF< .9J9@2A=F=J .L9JCd;@AF.9J9@2A=F=JCG;@L=DAN=MF<K9?L=X7EG@67D@[:DG@9:3F@;5:FE?;F-7DL;5:FLGFG@ S

:)3<1;+0--;=6,0-1<;#188;16,-:E"755-:B-1<C

A= F=M= .=F<MF?*A??7D 7D4EF .;@F7D D_:>;@9EL7;F (GFL9? :AK !J=AL9?    0@J *-! KL9JL=L=AE%MDA

EAL=AF=J.=JA=NGF.=JNA;= .=F<MF?=F e:=J(QL@=FMF</9LK9;@=FAEDDL9?KOAKK=FRME?=KMF<=F'=:=F 7IGEEF I;7?9:

E9D/AHHK>eJ=AF=F9F?=F=@E=FMF<?=KMF<=FDDL9?VNGF<=J !J9?= OA=*:KLMF<"=EeK=DaF?=J>JAK;@:D=A:=F :AKRMJ2AJCMF?NGF4G?9 9M> <9K $EEMFKQKL=E 7D4EFL7;F MF< .;@F7DL7;F :J9;@L=F

 =AFE9D HJG 2G;@==AF=F"=KMF<@=ALK:=ALJ9? !J9?=Fe:=J?=KMF<='=:=FKEALL=DOMJ<=F R9@DJ=A;@==ALJa?=?=OA<E=L




+0&'491..'04'&'0)'*D46 '405670&9#*4)'01//'09'4&'0

G5<.2=.;27?87E *=*>/;*1=)+272,1<=85C -*;*>/-*<<-.; <.27181.<=.,172<,1.<78@ 18@26!277.<.27.;<8C2*5.7$.;*7=@8;=>7062==.5< -2.<.<+;.2=0./N,1.;=.7.;*=>70<*70.+8=<*>,1-.7 <,1@N,1<=.72=052.-.;7>7<.;.;.<.55<,1*/=E-.7 27-.;7EC>;$.;/P0>70<=.55=D

2,1*.5*2;4* E *=*>/;*1=

MJ;@<A=MKOAJCMF?=FMFK=J=J&GFKME?=K=DDK;@9>L MF<<A=1=JaF<=JMF?<=J>9EADAaJ=F.LJMCLMJ=FAKL 9M;@>eJNA=D= JO9;@K=F=<=JJM;C?JdZ=J?=OGJ

<=F *>L:D=A:LFA;@L9MKJ=A;@=F<5=AL>eJ=AF?ML=K "=KHJa;@ A=\F?KL=<=J&AF<=JO=J<=FFA;@L =JC9FFLMF<<A=+JG:D=E=<=J%MF?=F9DKX&AF<=J

CJ9ES9:?=O=JL=LMF<FA;@L?=Fe?=F<J=KH=CLA=JL  _:JA?:D=A:=F(AKKN=JKLaF<FAKK= MF?=DdKL=&GF>DACL= MF<NA=D=MF:=9FLOGJL=L=!J9?=FVMF<0FKA;@=J@=AL E9;@LF?KL 

2GD=JF=FOAJX.=D:KLO=JLS OGD=JF=FOAJEALMFK K=AF OGD=JF=FOAJEAL9F<=J=FK=AF OGD=JF=FOAJ &GF>DACL=9MKLJ9?=F OGD=JF=FOAJ"=>e@D=RM:=F=F

F=F KA=RMKHeJ=F KA=RMD=:=F=L; 

%MF?=(=FK;@=F:J9M;@=FFKHJ=;@H9JLF=J$FF=F>eJ A@J=\F?KL=MF<.GJ?=F KA=OGDD=F=JFKL MF<O9@J

?=FGEE=FO=J<=F :=KGF<=JKAF=AF=J FLOA;CDMF?K

H@9K= AF<=JKA=F9;@A@J=J=A?=F=F$<=FLALaLMF< A@J=E+D9LRAF<=J"=K=DDK;@9>LKM;@=F

    

AF=JMF<= AFL=?JA=JL=+=JKdFDA;@C=ALK=LRLKA;@9MK <J=A&GEH=L=FR=FRMK9EE=F;97@=A?B7F7@L EAL; 3>7"A?B7F7@LMF<835:>;5:7"A?B7F7@L 0FK=J= "=K=DDK;@9>L MFK=J?=K9EL=K.;@MD MF<MK:AD

<MF?KKQKL=EAKL?=LJ9?=FNGF<=E"=<9FC=F <A= >9;@DA;@=&GEH=L=FRRMN=J:=KK=JF )G;@K;@F=DD=J  FG;@:=KK=J FG;@E=@J>9;@DA;@=,M9DALaL=F M><=J.LJ=;C=:RO K=@JMFL=J:=DA;@L=L:D=A:=F E=AKL A?=FCGEH=L=FRMF<KGRA9D=&GEH=L=FR 



"=J9<=<A=K=:=A<=F=FGJEOA;@LA?=F&GEH=L=FR=F O=J<=F:=A Q)3F3G8D3:FN=JEALL=DLMF<9F?=

J=?LMF<KGEAL=AFO=JLNGDD=J=ALJ9?>eJ<A=9D9F;= NGF A?=F KGRA9D=JMF<>9;@DA;@=J&GEH=L=FRAF MFK=J=J"=K=DDK;@9>L?=D=AKL=L

9KA=J=F<9M><=J,% "A@H7@F;A@>eJ<A=)75:F767D ";@67D?A:L=KEALLD=JO=AD=X#=DH MF<#GLDAF=KS>eJ BMF?=(=FK;@=FAF9DD=F 0 (AL?DA=<KKL99L=F M> "JMF<K=AF=JD9F?Ba@JA?=F J>9@JMF?O9J Q)3F 3G8D3:F>=<=J>e@J=F<:=A<=J FLOA;CDMF?NGF,M9DA

LaLKKL9F<9J<K>eJ<A=L=D=>GFAK;@==J9LMF?NGF-9L MF<#AD>=KM;@=F<=FBMF?=F(=FK;@=F  .=AL AKL Q)3F3G8D3:F9M;@(AL?DA=<NGF  :;>67>B>;@7 @F7D@3F;A@3> =AF=E)=LRO=JC<=J O=DLO=AL:=J=ALKAFE=@J9DK 'aF<=JF=L9:DA=JL=F /=D=>GF@AD>=>eJ&AF<=JMF<%M?=F<DA;@= 

& %") &.(


D!)<)=.:)0<,1-!#-4-.76014.-.K:16,-:=6,=/-6,41+0-

0FL=J <=J )GLJM>FMEE=J  :A=L=L )3F 3G8 D3:F HKQ;@GDG?AK;@= =J9

LMF?  9FGFQE  JMF< ME <A= 0@J MF< G@F= 1GJO9@D RME )MDDL9JA> 9MK ?9FR ^KL=JJ=A;@  5A=D AKL =K  BMF?=F (=FK;@=F EAL +JG:D=E=F G<=J AF )GLKALM

9LAGF=F #AD>=KL=DDMF? RM :A=L=F MF< <MJ;@ FGFQEALaL =AF= 1=JLJ9M=FK

:9KAK RM K;@9>>=F  KA;@ 9M;@ :=A @=ACD=F /@=E=F :=J9L=F RM D9KK=F  "=

E=AFK9E EAL <=F #AD>=KM;@=F<=F OAJ< 9F =AF=J +JG:D=EDdKMF? ?=9J:=AL=L  #AD>= RMJ .=D:KL@AD>= ?=:GL=F MF<  O=FF FdLA?  =AF CGEH=L=FL=J =PL=JF=J FKHJ=;@H9JLF=J :=A =AF=J O=AL=J>e@J=F<=F .L=DD= ?=KM;@L  9K  CdH>A?= /=9E @9L

    =J9LMF?=F <MJ;@?=>e@JL  E9F;@= FJM>=F<=F AF K;@OA=JA?=F '=:=FKR=AL=F "=O9DL  MF< (AKK:J9M;@K=J>9@JMF?=F :=?D=A

L=L  MKJ=AZ=JF CD9J ?=E9;@L  <9KK <9K 1GF 5M@9MK= 2=?D9M>=F A@J= +JG

:D=E= FA;@L DdKL  MF< E9F;@=F KMARA<?=>a@J<=L=F BMF?=F (=FK;@=F F=M= '=:=FKH=JKH=CLAN=FN=JEALL=DL  (AL=AF=E=C9FFL@=ALK?J9<NGF +JGR=FL:=A:AK %a@JA?=FAKL)3F3G8 D3:F EALLD=JO=AD= <9K :=C9FFL=KL= L=D=>GFAK;@= =J9LMF?K9F?=:GL >eJ BMF?= (=FK;@=FAF^KL=JJ=A;@MF< =AF=<=JE=AKL?=Oa@DL=F)GLJM>FMEE=JFMF

K=J=K'9F<=K 

   ='48+%'

'48+%'.'+5670)'0 (E4+0&'470&7)'0&.+%*'

:)<)=.,:)0<!)<

0EBMF?=(=FK;@=FRM=JJ=A;@=F EMKKE9FKA=<GJL9FKHJ=;@=F OGKA=KA;@ 9M>@9DL=F =K@9D:?A:L=K<A=2=:KAL=9DKOA;@LA?=DL=JF9LAN=MF< J?aFRMF? RMJ /=D=>GF #GLDAF= MF< 9DK F=M= (d?DA;@C=AL RMJ =JKL=F &GFL9CL9M>F9@E=  .=ALHJAD

KL=@L>eJ&AF<=JMF<%M?=F<DA;@=9M;@=AF=O=::9KA=JL=9FG

FQE=MF<CGKL=FDGK=*FDAF= =J9LMF?RMJ1=J>e?MF? 

!*1-<-<14.- G =55-:6=55-:    

)=:=F Q)3F3G8D3:F:A=L=L<=J*-!FG;@O=AL=J=.=JNA;=FMEE=JFA= X "G??7D@G??7DOAJ<K=AL%MDA

?=E=AFK9EEAL<=EXEF7DD7;5:;E5:7@ )AF7@ "D7GL :=LJA=:=F  9EAL KGDD=F <A= J>9@JMF?=F <=K)AF7@ "D7GL7E >eJ =J9LMF?K?=KHJa;@=?=FMLRLO=J<=F 

$2/7/8=-2A/<:?85>38./< $E-9@E=F<=K&) +:7?7@E5:I7DBG@=F";@67D@9LKA;@&)&"EAL9F=JC9FFL=F PH=JL$FF=Fe:=J@9F;=F MF<#=J9MK>GJ<=JMF?=F>eJ&AF<=JAE  %9@J@MF<=JLMFL=J@9DL=F !J9?=F OA=KA;@<A=&AF<@=ALAF<=FD=LR

L=F%9@J=F?=O9F<=DL@9L O=D;@=F AFUMKK=D=CLJGFAK;@=(=<A=F@9:=F G<=JOA= DL=JF<=F5M?9F?RMA@J=F &AF<=JFHGKALAN?=KL9DL=FCdFF=F OMJ<=F<=F=FeLR=J $FF=F<=KF=M=FEMDLAE=<A9D=F/1 5MK9LR<A=FKL=K :=9FLOGJL=L

5>39838./<</./873> &AF<=J@9:=F=LO9KRMK9?=FMF<<=J*-!DaKKLKA=9M;@RM2GJLCGEE=F E  .=HL=E:=J

KL9JL=L= <=J";@67DD767@?;F /1 MKK=AF=/GMJ<MJ;@?9FR^KL=JJ=A;@MF<E9;@L=<=F.;@MD@G>RME!=JFK=@KLM<AG $E $FF=J=F<=KMKK=KO9J=AF=&9E=J9AFKL9DDA=JL NGJ<=JKA;@<A=&AF<=J@AFK=LR=FMF<=AF>9;@A@J=.GJ?=F A@J= /JaME=MF<A@J=2eFK;@=EALL=AD=FCGFFL=F =J*-!Oa@DL=<A=:=KL=F CDe?KL=FMF<OALRA?KL=F(=D<MF?=F9MK MF<HJaK=FLA=JL=KA=9DKCMJR=.HGLKOa@J=F<<=K+:7?7@E5:I7DBG@=F7EAF:=A<=F+JG?J9EE=F XE97:F63DG?6;7";@67DLG478[:;97@6;7.7>F;@67DE;7>747@IA>>7@LG7DO@67@G@6=D73F;HLG97EF3>F7@

3E7DD7;5:7@I;D@GD6GD5:7D@EF:38F7G@67D@EF97@A??7@7'3DF;L;B3F;A@67D";@67D3@67D7E7>>E5:38FQ ;@G@E7D7?3>>6GD5:6;7$;F97EF3>FG@967D";@67D3?G@6;?'DA9D3?? S 7>93!3@;E5: 'DK57-7D3@FIADF>;5:7+:7?7@E5:I7DBG@=F";@67D


'+6'4''48+%'+)*.+)*65&'5

G ;7:/<.K:5-0:%-:3-0:;;1+0-:0-1<

DD=@9D:=F.LMF<=FMF<O=FF=K<A=1=JC=@JKD9?==J>GJ<=JL O=J<=F9M>#AL

J9<AG^ 9CLM=DD=-7D=7:DE;@8AD?3F;A@7@HJaK=FLA=JL 1=JC=@JKJ=<9CL=MJ$F

F=FJ=;@=J;@A=J=FAE.;@A;@L<A=FKL9CLM=DD=.L9MK 1=JC=@JK:=@AF<=JMF?=F <MJ;@0F>aDD=G<=J9MKL=DD=FMF<F9LeJDA;@(=D<MF?=Fe:=J9CML="=>9@J=F  =LO9e:=J"=AKL=J>9@J=J (=@J9DK 

&9E=J9K9M>^KL=JJ=A;@KMLG:9@F=F MF<.;@F=DDKLJ9Z=FKL=@=FRMJ1=J>e?MF?KGOA=9DD=9L=FRMJ1=JC=@JKKLJGE

F9DQK= DD=AFAE=JKL=F#9D:B9@J

EMKKL=^KL=JJ=A;@K:=DA=:L=KL=K-9<AG  E9DNGJ=AF=E"=AKL=J>9@J=JO9JF=F A=(=D<MF?=FO=J<=F=AF=JK=ALKAF ?=KHJG;@=F=J!GJEe:=J#ALJ9<AG^ 9F<=J=JK=ALKe:=J)* +$V<A=<A?AL9

D=1=JC=@JKAF>GJE9LAGFRMJ-GML=FHD9FMF?AE)9NA?9LAGFK?=JaLVOA=<=J?=?=

:=F 

J=?AKLJA=JL=X H7DLJ9?=FD9M>=F<<MJ;@A@J=FJM>=RMJCLM9DALaL <=J-7D=7:DE;@8AD?3F;A@:=A 

"+0J6-:4-*-6

(=FK;@=FAF<=J=NdDC=JMF?K?JMHH=NGF HDMKKL=@=FAE(9?9RAF*5:^@7D >747@.GFFL9?  0@J *-! AE(ALL=DHMFCL .=JNA;= "=KMF<@=ALKLAHHK  @=AEAK;@=MF<>J=E<=&MDLMJ=FMF<!J=AR=AL@AFO=AK=O=J<=FKH=RA=DD>eJ<9K aDL=J=*-! +M:DACME9M>:=J=AL=L 

G "+7<<AD,-:#K:B=#K:!7=<-684)6-:

$E%9FM9J

KL9JL=L=<9K#ALJ9<AG^ ?=E=AFK9EEAL<=F^<=F/eJ RM

/eJ -GML=FHD9F=J*5AFFK *5AFFK?A:LHMFCL?=F9MMKCMF>LRM9DD=F!9@JHD9F

9F>J9?=FAFCDMKAN=!MZO=?=FMF<C=FFL<A=!9@JHDaF=9DD=J^>>=FLDA;@=F1=J

C=@JKEALL=DAF?9FR^KL=JJ=A;@<A=!9@JHDaF=<=J.;7@7D#;@;7@=:=FKGOA= =LO9<A=<=J @@E4DG5=7D-7D=7:DE47FD;747  JC=FFL9M;@<A=!9@JHDaF=CD=AF=J HJAN9L=JMKMFL=JF=@E=JKGOA=KaELDA;@= 

9@F MF<MK@9DL=KL=DD=F  (AL<=EF=M=FMF<De;C=FDGK=F-GML=FHD9F=JOADD^ 9M;@MLG>9@J=JRME X0EKL=A?=FS9FAEA=J=F 

-451D"1+0-:0-1<15%-:3-0:.K:16,-: .=AL(ALL=%MFA

HJaK=FLA=JLKA;@7>?; <A=:=C9FFL=KL=.A;@=J@=ALK>A?MJ ^KL=JJ=A;@K AFF=M=E"=O9F< %=<=F.9EKL9?ME;9 

0@JAF*-!O9J

L=F9M><A=BMF?=F5MK=@=J$FF=FKH9FF=F<="=K;@A;@L=FEAL7>?;MF<*A= D3F7E <A=9M>MFL=J@9DLK9E=2=AK=<A=/@=E=F-7D=7:DG@6*;5:7D:7;F:=@9F

<=DFMF<=AFKHA=D=JAK;@=K JD=JF=FNGFJA;@LA?=F1=J@9DL=FKJ=?=DFAF<=F =J=A;@=F-7D=7:D D7;L7;F 3GE:3>FMF<*BADF=JEd?DA;@=FKGDD=F  LDA;@= AFL=J9CLAN=.=JNA;=KO=J<=F9M;@AE$FL=JF=L9M>:7>?; 3F9F?=:GL=F  G %-:3-0:;)?):,

9K#ALJ9<AG^ MF<<9K$FF=FEAFAKL=JAMEHJaEA=JL=F:=J=ALKRMEK=;@KL=F (9D9DDB=F=EAL<=EX -7D=7:DE3I3D6 <A=L9?La?DA;@=AF=F=ALJ9?RMJ1=J

C=@JKKA;@=J@=ALAF^KL=JJ=A;@D=AKL=F .=ALE=@J9DK %9@J=F@9L<=J*-!<A= 1GJJ=AL=JJGDD=AF<=J9CLM=DD=F1=JC=@JKAF>GJE9LAGF 

=JO=AL=JL=#ALJ9<AG ^ <A=:=Oa@JL=F/=;@FGDG?A=FEAL<=EF=M=F.QKL=EA*?3DF '&2 (9ML

<9L=FDA=>=JF=AF1=JC=@JKD9?=:AD<NGF^KL=JJ=A;@KMLG:9@F=FMF<.;@F=DD

KLJ9Z=F 

6.7:5)<176=6,"-:>1+-15##'#=6,!=4<1#-@<

=J&)+#+/+:A=L=L=AF=FME>9F?J=A;@=F.=JNA;=L=AD $E(AFML=FL9CL 9CLM9DAKA=JL=$F>GJE9LAGF=FRM!De?=FMF<5M?>9@JHDaF=FKAF<=:=FKG=FL@9D

L=FOA=9CLM=DD='M>LE=KKO=JL=G<=J'9OAF=FO9JFMF?=FMF<9MZ=J<=EOA;@

LA?=/=D=>GFFMEE=JF <J=KK=F /=JEAF=MF<^>>FMF?KR=AL=F #AFRMCGEE=F R9@DJ=A;@=/@=E=FE9?9RAF= M;@AE&)&"$G>F;+7JFKL=@=F.=JNA;=AF>GJ

E9LAGF=F:=J=AL


+?=#3-2>./</,S2</8D+26/<88/8

AF=0E>J9?=EAL

^KL=JJ=A;@=J$FF=FRME&) +:7?7@E5:I7DBG@=FD@[:DG@9R=A?L KAKLG=F:9J?=

DMF?=F =OMKKLK=AF>eJ<A=K=K?=K=DDK;@9>LDA;@J=D=N9FL=/@=E9RMK;@9=FMF<<MJ;@K=JAdK=MF<CGEH=

L=FL=$F>GJE9LAGFCGFCJ=L=#AD>=KL=DDMF?=F>eJ<9K+M:DACMERM:A=L=F 5O=AJALL=D<=J=>J9?L=F@9DL=F<=F0E>9F?<=K+:7?7@E5:I7DBG@=FD@[:DG@9>eJX?=J9<=JA;@LA?S 

+JGR=FL:=MJL=ADL=F<A=$<== <9K/@=E9D@[:DG@9AFL=FKANRM:=@9F<=DF EALXK=@J?MLSG<=JX?MLS  A=-MF<>MFC?=:e@J=FK=@=FAF<A=K=E5MK9EE=F@9F? +JGR=FL9DKXK=@J?MLSG<=JX?MLS=AF?=K=LRL

);"-:>1+-.K:,1-/=<-:6I0:=6/ 7+0-651<,-5!

   ='48+%'

$2/7/8=-2A/<:?85><8N2<?81

AK F<=

O9J+=L=J/A;@9LK;@=C"9KL?=:=JMF<(G<=J9LGJ<=J:=DA=:L=F *-! &G;@K@GOD;E5:97=A5:F(GFL9?:AK!J=AL9?  0@J *-!   %=<=F 2G;@=FL9? DM< =J ^KL=JJ=A;@K .HALR=FCd;@= =AF  RMK9EE=F EAL &9F

<A<9L=F=AFCMDAF9JAK;@=K(=AKL=JO=JCRMCJ=A=J=F 0E>9KK=F<=$F>GJE9LAGF e:=J"=JA;@L=MF<5ML9L=FKGOA=9:JM>:9J=-=R=HL=NA9/=D=>GFG<=J$FL=JF=L KAF<MFK=J.=JNA;=>eJ$@J="9ME=F>J=M<=F 5ME+:7?7@E5:I7DBG@=FD@[: DG@9 AE (aJR

 ?9: JFa@JMF?K=PH=JLAF #9FFA -eLRD=J AF <=J .=F<MF? =AF=?9FR=2G;@=D9F?/AHHKRME?=KMF<=F KK=F :

CG;@=FAE*-! @6;>7J

)6B+0D&704.K04-616G 

 (AFML=F La?DA;@ NGF A=FKL9? :AK !J=AL9?  V

 0@J :JAF?L <9K &MJRE9?9RAF3@L 5:=AF:AK<J=A=ALJa?= <A=.=JNA;=MF<$F>GJE9LAGFRME ?=KMF<=F'=:=FMF<FJ=?MF?=F>eJ?=AKLA?=KMF<CdJH=JDA;@=K2G@D:=>AF

<=F:A=L=F 5ME+:7?7@E5:I7DBG@=FD@[:DG@9OA<E=L=KA;@3@L 5:<=F /@=E=F7DBB7F;F >>F393>E-797F3D;7D D_:EF_5=7I;77;@"3;E7DMF<7 >3EE7@7EE7@ 

->J43-:=6/;?):6=6/)4;J..-6<41+0:-+0<41+0-=./)*-

&9L9KLJGH@9D= J=A?FAKK=OA=-=9CLGJMF>aDD= 0FO=LL=J  J<:=:=F @=EA=MF

>aDD= MF< 29D<:JaF<= =J>GJ<=JF =AF= KG>GJLA?= 29JFMF? <=J =NdDC=JMF?  $FKGD;@=F&JAK=F MF<&9L9KLJGH@=F>aDD=FO9JFLMF<AF>GJEA=JL<=J*-!9DK d>>=FLDA;@ J=;@LDA;@=-MF<>MFC9FKL9DL<A=dKL=JJ=A;@AK;@==NdDC=JMF?J9K;@ MF<RMN=JDaKKA? 9KHJAEaJ=1=J:J=ALMF?KE=<AMEAKLAFKGD;@=F!aDD=F<9K -9<AGHJG?J9EE ^  =A J=?AGF9D :=?J=FRL=F 29JFMF?=F OAJ< N=JKLaJCL 9M> <A= -=?AGF9DHJG?J9EE= <=K *-! -9<AG RMJe;C?=?JA>>=F  =?D=AL=L O=J<=F KGD;@=9CML=F29JFMF?=FMF<$F>GJE9LAGF=FNGF<=FF9LAGF9D=F/1 .=F<=JF *-!MF<*-! KGOA=<=E+#+/+MF<<=E$FL=JF=L9F?=:GL<=K*-!  =ADaF?=J9F<9M=JF<=F&9L9KLJGH@=FO=J<=F1=JLJ=L=J<=K*-!AF<A=J:=AL <=K @@7@?;@;EF7D;G?E =AF?=:MF<=F  <9EAL FO=AKMF?=F 9F <A= 5ANAD:=NdD

C=JMF?MF<O=AL=J>e@J=F<=$F>GJE9LAGF=FK;@F=DDMF<<AJ=CLO=AL=J?=?=:=F O=J<=FCdFF=F




=.<:)/  







 

-1;<=6/ 

  

  

  

  

  

0FL=J@9DLMF?>eJ9DD= =NdDC=JMF?KK;@A;@L=FMF<(ADA=MK !ADE .=JA= .@GOMF<GE=<Q EAL,M9DALaLK9FKHJM;@  FL .H9FFMF?AF /1 -9<AGMF<*FDAF=

-0:?-:< $#!#$51<1>-)=

GK//.7=52,1;.,1=52,1.; >7-/>744*7772,1=*>/+.<=266=..7;.<8-.;;80;*66 +.;.2,1.;.->C2.;=@.;-.7*>,172,1=*>/-.7.;.2,1*,1;2,1=.7>7-*4=>.55. .;2,1=.;<=*==>70#7=.;1*5=>7086.-B>7-!92.5/256.+.<2=C.7.+.7<8.27 8=.7C2*5@2.-2.*,1;2,1=.7>7<.;.#6@.5=-*;C><=.55.7>7-<80*;78,1.27. <.1;?2.50;OJ.;.*,1=>7<.;.$8;<=.55>70-*;P+.;*7C>;.0.7@2.>7<.;..<.55 <,1*/=<.274O77=.D 7-;.@;*1*6 GK//.7=52,1;.,1=52,1.; >7-/>7427-.;.684;*=2.D




*-! 0FL=J@9DLMF?=J@=:L<=FFKHJM;@ ,M9DALaLKKL9F

<9J<K=AF MF<9M>J=;@LRM@9DL=F!ADE=O=J<=FFA;@LMFL=J

:JG;@=FNGFDaKLA?=J2=J:MF? .@GOEG<=J9LGJ$FF=F>e@

J=F(=FK;@=FFA;@LNGJ E9;@=FKA=FA;@LDa;@=JDA;@  %M?=F<K;@MLRMF<&=FFR=A;@FMF?<=J+JG?J9EE==J?=:=F =AF=FKA;@L:9J=F0FL=JK;@A=<RMJHJAN9L=F&GFCMJJ=FR  *-! 0FL=J@9DLMF?KGDDKLAEMDA=J=FMF<FA;@L1GJMJL=AD=MF< :ADDA?= >>=CL=HJG<MRA=J=F .A=KL=DDL=AF=FNA=D>aDLA?=FMF< CJALAK;@=F=RM?RM^KL=JJ=A;@AE=MJGHaAK;@=FMF<AFL=J

F9LAGF9D=F&GFL=PL@=J AF=F?=J5MK9EE=F9J:=ALEAL dKL=JJ=A;@AK;@=F&J=9LAN=F 0. .=JA=FV29JMEFA;@L 2=FFKA=AFL=DDA?=FL?=E9;@L 9F=JC9FFLMF<EAL+J=AK=F MF<O9J<K9MK?=R=A;@F=LKAF< 0FL=J@9DLMF?AKLAE*-!=AFF?=:GL>eJ9DD=&MDLMJAFL=J=K

KA=JL=MF<&JAEA !9FK /@=9L=J PH=JL$FF=FMF<*H=J=LL=F

DA=:@9:=J$FF=F +GH -G;C #AH@GH /=;@FG GEEMFALA=K MF<1GDCKEMKAC>J=MF<$FF=F "JGZ=J=A?FAKK=MF< N=FLK N=JK9EE=DF^KL=JJ=A;@NGJ<=FF=M=F!D9LK;J==FKMF<<=F =LO9KaDL=J=F!9LK;J==FK <=F#9F<QKMF<'G4>;5-;7I;@9

+DaLR=F =J*-!Da<L=AFRM=AF=E'9?=J>=M=J>eJ?9FR ^KL=JJ=A;@

:)3<1;+0-:=<B-6 

0FL=J@9DLMF?KIM9DALaL>eJ<A=!J=AR=AL




0018#6+8708'49'%*5'.$#4 27$.+-7/59+4-5#/D56'44'+%*+5%*

G,14*7762=0>=.6.@2<<.7+.1*>9=.7-*<<<2,1-2.  !*=2;.>7-86.-B<18@<26 *55.<*6=->;,1 21;.727=.5520.7=.772?.*>?855.7%2=C>7->68;62= 5*70.6*5=+*;4.2=<-*=>6*><C.2,17.7D

+!.&+()".  ."001+! ,*"!5

"343D7FF@9LAE*-!K=AL&9JD!9JC9K+JG?J9EE=FAF <=F =J%9@J=F=AF=D9F?=/J9<ALAGFMF<AKL/=AD dKL=JJ=A;@AK;@=J&MDLMJ =J*-!@9D><9:=A &9:9J=LLAE '9M>=<=JN=J?9F?=F=F%9@JR=@FL=E9KK=FL9M?DA;@RM E9;@=F "=?=FA?76K?9:=KD9F?=5=AL1GJ:=@9DL=V GE=<Q9J:=AL=E=AKLEAL:ADDA?=F2ALR=FMF<=JR=M?= FA;@LOA=&9:9J=LL=AF=FLD9JN=F<=K KGF<=JFD=<A?DA;@ =AFK;@9<=F>JG@=K'9;@=F #=ML=@9:=FOAJEALNA=D=F .=F<MF?=F<9K"=?=FL=AD:=OA=K=FMF<IM9DALaLKNGDD= GE=<Q@9LA@J='=?ALAE9LAGFAE*-!

<9KE9;@=F OGNGFKGE9F;@= J%GMJF9DAKL$FMF<NA=D= ^KL=JJ=A;@=J$FF=FO9@JK;@=AFDA;@FMJRMLJaME=FO9?L=F  J<9J>MF<C9FF=K<=F+GDALAC=J$FF=FMF<(a;@LA?=F <=K'9F<=KMF<KGD;@=F<A==K?=JF=K=AFOeJ<=FKG JA;@LA?XJ=AFK9?=FS A@F=FA@J=?=OG@FL= E=<A9D= $FKR=FA=JMF?=FLRA=@=FMF<A@F=F<A=@G@D=F+@J9K=F N=J:A=L=F (9F;@==EH>AF<=FK=AF=(9B=KLaL<=K@9D: 9DK?F9<=FDGK 9M><=J9F<=J=F.=AL==EH>AF<=A;@MF< A;@<=FC= NA=D=5MK;@9M=J$FF=FL=AD=FE=AF=(=AFMF? '9;@=Fe:=J<A=-=9DALaL=AF>9;@FMJ:=>J=A=F<

(AL<=FA?76K G@6*3F;D78AD?3F7@C9FF<=J*-!MFL=J =O=AKKL=DD=F <9KK=JHGDALAK;@MF9:@aF?A?AKL 9KLML MFK=J9DD=Jd>>=FLDA;@ J=;@LDA;@=J.=F<=JEALLD=JO=AD= EMLA?EALGJA?AFaJ=F MFN=JO=;@K=D:9J=FGE=<Q  MF<.9LAJ=K@GOK OA=R  D>J=<GJ>=JKAD87DEA@ @7DEF3>= $F<=J=JKL=FdKL=JJ=A;@AK;@=F/1 .9LAJ=K@GO AKLC=AF=+9JL=AMF<C=AF+GDALAC=JNGJGJ>=JKKM:LAD=F  K9LAJAK;@=FLL9;C=FKA;@=J =J*-!:=O=AKL.AFF>eJ #MEGJ AF<=E<A="=K;@a>LK>e@JMF?GJ>=JK@MEGJAKLA

K;@==?=FKLA;@=EAL>=AF=J&DAF?=?=?=FKA;@H=JKdF

DA;@MF<<9K#9MKRMDaKKL O9K<=E.=F<=JNA=D=.QE

H9L@A=HMFCL=:=AE+M:DACME=AF?=:J9;@L@9L

M;@EAL<=F=:=F>9DDKK=@J=J>GD?J=A;@=FGE=<Q !GJ

E9L=FOA=.3E9;4F7E%7G7E 5:F87FF ;7D;E5:>;@97  ;7>;7473?;>;7 ,@67D5AH7DMF<5:F>GEF;9@9:=FOAJ =K?=K;@9>>L ?=J9<=BeF?=J=K+M:DACMERM:=?=AKL=JF MF<<9K<G;@=LO9KN=JKL9M:L=$E9?=<=K*-!OA=<=J RME"DaFR=FRM:JAF?=F A= AF>e@JMF?<=J=J>GD?J=A

;@=FA@@7DEF39%35:F9DK*-! /J9<=E9JC>eJBMF?= 0FL=J@9DLMF?9F=AF=E>AP=F.=F<=HD9LRAKL=AF=AKHA=D <9>eJ

29KAE*-!AE=J=A;@*3F;D7G@6A?76KF>9F?  MFL=J9F<=J=EFG;@>=@DL= O9J=FXKM:N=JKAN=S >J=;@=  OALRA?=$FL=JNA=OKEAL^KL=JJ=A;@K+GDALAC=J$FF=FMF< +JGEAF=FL=F %=E9F< <=J<A=K=FXK=D:KL?=>aDDA?=F (a;@LA?=FS<=K'9F<=K=F<DA;@=AFE9D<A=(=AFMF? ?=A?L (AL.;DE;@6"3;E7D@9:=FOAJ<9K?=K;@9>>L A=

K=J&9AK=J<9J>MF<C9FFFMFAE!=JFK=@=F=F<DA;@9DD



2=AL=JKOMJ<=F<MJ;@<A=K=J=?=DEaZA?=F.=F<MF?=F NA=D=BMF?= dKL=JJ=A;@AK;@=GE=<QL9D=FL=?=>dJ<=JL MF<=L9:DA=J=L  K?=DAF?LFMF9M;@=JKLE9DKAE*-! F=M= BMF?=MLGJ$FF=F9M>RM:9M=F <A=AF!GD?=FA;@L FMJ=PHDARAL>eJGE=<Q KGF<=JF9M;@>eJ9F<=J=0FL=J

@9DLMF?KK=F<MF?=FMF<.@GO>GJE9L=@=J9F?=RG?=F O=J<=FMF<EALAFFGN9LAN=F GJA?AFaJ=F.=F<MF?KA<==F 9M>O9JL=FCdFF=F 

+!.&+()".


  

A=A@@7DEF39%35:F@9LKA;@K=ALA@J=J AF>e@JMF?

RM=AF=J=;@L=FX/J9

<=E9JCS =FLOA;C=DL  A= .=F<=HDaLR= KAF< >eJ 0FL=J@9DLMF?KHJG?J9EE EAL X(=@JO=JLS J=K=JNA=JL  9:=A OAJ< <9J9M> ?=9;@L=L  <9KK =AF= CGFLAFMA=JDA

;@=!DMCLM9LAGFKL9LL>AF<=L KG<9KKAEE=JOA=<=JF=M=&GFR=HL=MF<$<==F =JHJG:L O=J<=F CdFF=F 

 OMJ<= <A=*7@6G@9 A:@7 %3?7@ NGF <=J G DAB[;E5:7@)G@68G@=G@;A@RM=AF=E?aFRDA;@F=M=F"=FJ==JCDaJL AK

 HJG<MRA=JL=F 9NA< .;@9DCG MF< &GDD=?$FF=F  .=F<MF?=F  A= 'AKL= <=J .=F<MF?=F <A=K=AL@=J<9K+M:DACME:=?=AKL=JF AKLD9F?MF<OAJ<AF5MCMF>L 9M;@FG;@=JO=AL=JLO=J<=F 5:F87FF  J ;7D;E5:>;@97 "GB7FL=K .7D J >_9FQD7?;J76 .;5=;7*>;?73@6'3;B7D *G@E:;@7;D>;@7EM N E 

I3/97/.C31/8:<9.?5>398/81/2R</8D?./8A/831/8#/8.?81/8+?0.3/ =3-2./<"/>A+=/38,36./8.+<03/9<7+>/=38.83-2>8?<./?>63-29<313 8/66/<+6=/>A+#+>3</=/8.?81/837./?>=-2/8/<8=/2/8.3/=3-27/2<9./< A/831/<.+73>,/18S1/8/?>/,/37'3>D//<DN26/8D?0367/8#3/=-2+00/8/= =91+<.3/,/3./<'/<,/A3<>=-2+0>,/=98./<=,/1/2<>//8/<+>3984?81/< /<8=/27?00/6@9<.+=/<N>D?=-2+</83//<0961</3-2=>/8961/8@98'3< =38.+3=/<*?8.9<0/<=988/<=>+65*2+>>/80+=>/38/2+6,/366398#/2/<G 0S<#/8.?81/88+-2 %2</38/=/8=+>398/66/!?9>/E '9601+81<+63-/5+6>/<  

   =06'4*#.670)

 1/'&;70&#6+4'

&1443755-6G;<-::-1+051<"<-:5)66:1;;-5)66

$F.;>>=A??7@XEF7DD7;5:GFF=JKL9? ;9 

0@J *-!D9<=F.L=JE9FF MF< "JAKK=E9FF 9:

 Od;@=FLDA;@ AF <9K :=DA=:L=KL= 2G@FRAEE=J <=K '9F<=K=AF +JGNGC9FL=/@=E=FMF<K;@O9JR=J#MEGJV>=JF9:NGF'A>;F;53> ADD75F@7EEVHJaK=FLA=JLEAL=AF=JE9JC9FL=F(AK;@MF?9MK2ALR :?=CDaJL

@=AL:AKRME5QFAKEMK 

&1:;16,)1;-:

E (9A

@A=DL*7;@7$3<7EF[F)A47DF7;@D;5: 9DA9K-G:=JL+9D>J9<=J =JKLE9DK AF <=J <GFF=JKLa?DA;@=F .9LAJ=  MF< GE=<QD=AKL= #G> MF< :J9;@

L= <=F LGMJAKL=F9LLJ9CLAN=F "D9FR =AF=J MFJ=HJaK=FL9LAN=F (GF9J;@A= AF <=J .9LAJ= /9DCK@GO .;D E;@6 "3;E7D GFF=JKL9?    0@J  *-!  RMJe;C 9M> <A=AD<K;@AJE= 0EKA;@K=AF=E1GDCR=AL?=EaZRMHJaK=FLA=J=F @9LK=AF= (9B=KLaL K=AF= =A?=F= *-! /1 .@GO AFK '=:=F ?=JM>=F  #A=J Ed;@L=)A47DF 7;@D;5:  ?=E=AFK9E EAL K=AF=E&47DEF:A8?7;EF7D *7K887@EF7;@ 9DA9K -M<A -GM:AF=CR=A?=F OA=OA;@LA?A@E<A=FDA=?=F<=K1GDC=KKAF< MF<KG=EH

>aF?L =J :=A <=F /1 M<A=FR=F KGOG@D X<=F CD=AF=F (9FFS 9DK 9M;@ +JGEA

F=FL=9DD=JAKRAHDAF=F 5M<=F9M>>aDDA?KL=F"aKL=F

Ra@DL=F!J9FR!AK;@

D=J  N9 "D9OAK;@FA?  #9FK &J9FCD  F<J=9K &@GD  +=L=J 2=KL=FL@9D=J MF< #=A<=.;@EA<L 

1- ,)

-MH=JL#=FFAF? /@GE9K(9MJ=J !DGJA9F.;@=M:9MF< JOAF.L=AF@9M=JKAF< K=AL

;7 63 %=<=.=F<MF?=JRa@DL=AF=9:?=K;@DGKK=F="=K;@A;@L= 9F <=JKA;@9M;@<9KB=O=ADK?=Oa@DL=9JKL=DDMF?K>GJE9LGJA=FLA=JLVNGE-G9<

EGNA=e:=JGCMMF<&JAEA:AK@AFRMJK;@GFMF?KDGK=F FL@eDDMF?KJ=HGJL9?=  .GCGEEL=KRM=AF=EOd;@=FLDA;@=F2=;@K=DNGF.;@9MHD9LR !A?MJ=F .LAD  JRa@DO=AK=MF<"=FJ=  AF&GFR=HL>eJ/1 .9LAJ= <9K=KAF<A=K=J!GJEFG;@ FA;@L?=?=:=F@9LMF<<9KEAL<=E-=AR<=J$FFGN9LAGFKHA=DL




4'*$7%*70&+./ 0524E%*' D(('06.+%*4'%*6.+%*'47#.+6C65241&7-6+10

G&>;1*7-@.;452,1.7>*52=N=4866=-.;+.<87-.;. 7<9;>,1-.< -.;>7.;5N<<52,1.0.6.27<*6. .77.;+.2*55.;$2.5/*5=-.;;8->4=. -2..;<=.55>70 >7-%2.-.;0*+.O<=.;;.2,12<,1.;-.7=2=N=2725- !9;*,1."1.6*20>;.724=2874>;C -2.#7?.; @.,1<.5+*;4.2=>7<.;.;256.D

)1/&+0/ %&+$".   ".+/"%#&)*

*@F=J=@:M;@C=AF!ADE  K=JKL9MFL9M;@F9;@ RO9FRA?%9@J=F:=JM>DA;@=J/aLA?C=ALAE!ADE?=K;@a>L  <9KK<A=NGDD=/J9?O=AL=<A=K=J!=KLKL=DDMF?KG=LO9K OA==AFD=A;@L:=>D=;CL=K"=@=AEFAKAKL 2=FFF9;@ <=J!=JLA?KL=DDMF?=AF=J+JG<MCLAGF<A==L=ADA?L=FNGJ MF<@AFL=J<=J&9E=J9AF<=J-=A@=F>GD?=A@J=J2A;@

LA?C=AL9F?=KHJG;@=FO=J<=F O=FF-=?AKK=MJ$FF=F  .;@9MKHA=D=J$FF=F +JG<MR=FL$FF=F -=<9CL=MJ$FF=F RM2GJLCGEE=F >J9?LC9MEB=E9F<F9;@<=FMLGJ

$FF=F $@J=J:=ALK;@=AFLN=J?=KK=F ,M9DALaLAE!ADE@9LL9LKa;@DA;@=AF=:=LJa;@LDA;@= FR9@DNGF(eLL=JFMF<1aL=JF 9:=JKA=:=?AFFLEAL <=EJ=@:M;@ (9FC9FF KG=AFO=AL=J=J.L9F<9J<K9LR <=K!ADE@9F<O=JCK 9MK=AF=EK;@D=;@L=FJ=@:M;@ C=AF=F?ML=F!ADEE9;@=F 9:=J9MK=AF=E?ML=FJ=@

:M;@C9FF<MJ;@9MK=AFK;@D=;@L=J!ADE=FLKL=@=F  $E1=J?D=A;@EAL<=MLK;@=F.=F<=JFO=AKL<=J*-!=AF=F @G@=FFL=AD9F=A?=F=FLOA;C=DL=F.LG>>=FAFK=AF=J !=JFK=@>ADEHJG<MCLAGF9M> J=@:e;@=J=FLKL=@=F9DK AFL=FKAN=5MK9EE=F9J:=ALROAK;@=FMLGJ$FF=FMF< -=<9CL=MJ$FF=FMF<J9E9LMJ?$FF=F<=K#9MK=K A= J:=AL=JKLJ=;CLKA;@9M>>9KL9DD="=FJ=K<=K!9;@=K NGF <=J&GEd<A=e:=J<9K(=DG<J9E <A='AL=J9LMJN=J>AD

EMF?:AKRME/@JADD=J A=,M9DALaLKCJAL=JA=FKAF<=AF=J

K=ALK@9F<O=JCDA;@=J)9LMJ  KOeJ<=<=F-9@E=F<A=

K=JFE=JCMF?=FKHJ=F?=F @A=JAFK=L9ADRM?=@=F  )MJKGNA=DJ=@:M;@ .;@J=A:=FAKL=AF#9F<O=JC <9K 9M;@:=ANGJ@9F<=F=E/9D=FLFG;@D9F?='=@JR=AL=F =J>GJ<=JL :AK<A==JM>KJ=A>==JJ=A;@LAKL 



5MJ@9F<O=JCDA;@=F,M9DALaLCGEEL<=J:=KGF<=J= FKHJM;@<=K*-! <=JMF=JDaKKDA;@=?=E=AFK9E=)=F

F=J:=A9DD=J1A=D>9DL<=J+JG<MCL=<A=#=JKL=DDMF?MF< 2A=<=J?9:=dKL=JJ=A;@AK;@=J$<=FLALaLAFAD< .HJ9;@=  /@=E9 !A?MJ=F ACLAGF CMJR<A=0FN=JO=;@K=D:9JC=AL MFK=J=J!ADE= =J*-!:=KALRL=AF=F2=LL:=O=J:KNGJL=AD <=JB=<=E 9M;@FG;@KG?=O9DLA?=E/KMF9EA9FAFL=JF9LAGF9DAKA=J

L=E N=JO=;@K=D:9J=E+JG?J9EEKL9F<@aDL 2AJKAF< O=DLO=AL<=J=AFRA?=F:A=L=J^EF7DD7;5:;E5:7D 67@F;F[F AF>ACLAGF9D=F+JG?J9EE=F &=AF"JGZCGFR=JF<=J2=DL AFL=J=KKA=JLKA;@<9>eJ <=EdKL=JJ=A;@AK;@=F!=JFK=@  HM:DACME<9KdKL=JJ=A;@AK;@=+JG?J9EE9FRM:A=L=F  <9KA@ERMKL=@L 9KXJ=;@F=LSKA;@FA;@L 2AJKGDD=F <9KK=@=F O9K9DD=9F<=J=F9M;@K;@GF?=K=@=F @9:=F 9KJ=;@F=LKA;@ AF=Xd>>=FLDA;@ J=;@LDA;@=S-=;@FMF?KA=@L9F<=JK9MK  .A=OAJ<FA;@L9DD=AF=RM?MFKL=F<=K2AJLK?=E9;@L  KGF<=JFE9Z?=:DA;@RM?MFKL=F<=K"9KL=K =A<=F EMKK=K?ML?=@=F 2AJO=J<=FMFKEAL@=AEAK;@=F!=JF

K=@>ADE +JG<MCLAGF=FKGD9F?=ME<9K2G@D=J?=@=F MFK=J=K"9KL=K:=Ee@=FCdFF=F 9DK<=J*-!KL9JC ?=FM?AKL MEKA=EALK=AF=F+9JLF=J$FF=FAF<=J!ADE

OAJLK;@9>L@=JKL=DD=FRMCdFF=F .GD9F?=<9KAEJ=@

:M;@>eJ<A=5MCMF>LNGJCGEEL OAJ<9E F<=9DD=K?ML  2=FFFA;@L ?ADL<=J(=JCK9LRX.3E@;5:F;?D7:4G5: EF7:F7DE5:7;@F3G5:@;5:F3?*5:;D? S

)1/&+0/ %&+$".


-:!#)<7:<

X-A@ @83@9 4;E @67 EB3@@7@6  D ;EF 9GF ;@EL7@;7DF G@6 :7DHADD397@6 47 E7FLFS  K;@JA=: <A= <=MLK;@= .7>F e:=J <A= 3?;>;7@E35:7  =AF= dKL=JJ=A;@A

K;@=!GD?=<=J+3FADF -=A@=EAL#9J9D<&J9KKFALR=J9DK3GBF=A??;EE3D$AD;FL ;E@7D  /@GE9K -GL@ >e@JL= -=?A= MF< K;@JA=: <9K M;@  =J E=AKL?=<A=FL= dKL=JJ=A;@AK;@=+3FADF &GEEAKK9J=JEALL=DL=

9M;@AF<=J-=?AGF;@=F

K==MFL=J<=E/AL=D+^6>;5:7349;7D 2GD>?9F?(MJF:=J?=JAFKR=FA=JL=AF?=

OG@FLKGMN=JaF=J(9FA=J<=FKH9FF=F<=F&JAEANGF!=DAP(ALL=J=J =J+3FADF AKL MF:=KLJALL=F <A= X(=AKL=JCD9KK=S <=K <=MLK;@KHJ9;@A?=F !=JFK=@CJAEAK  &=AF=9F<=J=.=F<=J=A@=@9L<A=K=FCGFLAFMA=JDA;@=F J>GD?MF<C9FFAF<=F =AFR=DF=F !GD?=F EAL AFL=DDA?=FL=F "=K;@A;@L=F AF <A= :  MF< #AFL=J?JeF<= <=JB=O=ADA?=F-=?AGF=F=AFL9M;@=F $EE=J@AF +3FADF !GD?=FKL9EE=F9MK ^KL=JJ=A;@MF<=JJ=A;@=F9M;@(ADDAGF=F(=FK;@=FAF=MLK;@D9F< 

#%7>1-;

 O9J 9M;@ =AF %9@J 9FKHJM;@KNGDD=J /1 !ADE= 9K %MKLAR<J9E9;7 7 E5:IAD7@7<=KdKL=JJ=A;@AK;@=F-=?AKK=MJK)ACGD9MK'=QLF=JEAL@JAKLA9F= #dJ:A?=JAF<=J#9MHLJGDD= 5O=AO=AL=J=/=AD=NGF#;>>K*5:^@3G7DMF<,?I79 ;@E>_5==J?aFRL=F<A=-GE9FLACJ=A@= AF<=J=KME?=>e@DNGDD= AF<A=.;@dF

@=AL=FdKL=JJ=A;@AK;@=J'9F<K;@9>L=F=AF?=:=LL=L="=K;@A;@L=F?=@L 59@DJ=A

;@=O=AL=J==AKHA=D=9M>.=AL=  

   =06'4*#.670)

06'4*#.670)/+6#.670)

$2/7/8=-2A/<:?85>38./< /-\0( '  ) 50&0)!/ =J&) +:7?7@E5:I7DBG@=F";@67DAE*CLG:=J

 A=1A=D>9DL<=J2eFK;@==JEd?DA;@L=AF= AF:AF<MF?AFF9@=RM9DD=+JG

?J9EE=<=K*-!  ";66KA@F7EF=JOG@D?JdZL=/J9MENA=D=J&AF<=JV=AF.L9JRMK=AFVKL=DDL =AF=F <=J #d@=HMFCL= <=J*5:I7DBG@=FIA5:7 <9J <=J ";66K A@F7EF 

 OAJ<<=J";66KA@F7EF=JKLE9DK9DK?JGZ=#9MHL9:=F<K@GO9E!J=AL9? <=E *CLG:=J 9MK?=KLJ9@DL $E1GJ>=D<O=J<=F&9F<A<9L=FAFB=  EAFeLA?=F GCM .G9HKJMF<ME<A=1GJ:=J=ALMF?=F:=?D=AL=LMF<=@=E9DA?="=OAFF=

J$FF=F <A==KAF<A=@9JLK?=K;@9L@9:=F :=KM;@L  7?A=D3F;7I7D=EF3FF5=AL?D=A;@EAL<=E+:7?7@E5:I7DBG@=F";@67DOMJ<= AE +9JD9E=FL <A= 7?A=D3F;7I7D=EF3FF =JdF=L  5A=D <A=K=K +JGB=CLK AKL =K  &AF<=JF <MJ;@ MFCGFN=FLAGF=DD= (=L@G<=F 2AKK=F e:=J H9JD9E=FL9JAK;@= FLK;@=A<MF?KHJGR=KK=RMN=JEALL=DFMF<KA=>eJ=AF=?=D=:L==EGCJ9LA=RM :=?=AKL=JF  MJ;@ ?=RA=DL= =JA;@L=JKL9LLMF? e:=J <9K +JGB=CL MF< K=AF= $F

@9DL=N=JKM;@L<=J*-! <A=K="JMF<?=<9FC=FNGJ9DD=EK=AF=FBMF?=F5MK=

@=J$FF=FRMN=JEALL=DF M;@<9KC9FFd=FLDA;@ J=;@LDA;@=0FL=J@9DLMF?>eJ &AF<=J:=OAJC=F 

%1-::)=-6=6,-16#7,-;.)44

1A=J=A?=FOADDA?=9E=FNGE'9F< <A=F9;@=?Ja:FAKK=F<9K)9;@>GJK;@=F FA;@LD9KK=FCdFF=FV<9KAKL<9K&GFR=HL<=J*-! .=JA= <A=F9;@=AF=J$<== NGF J>GD?K9MLGJ2GD>#99KMF<FF=E9JA=(ALL=J@G>=J=FLKL9F<  AF J>GD?  <=JFA;@LRMD=LRL2GD>?9F?(MJF:=J?=JRMN=J<9FC=FAKL %=F=E-=?AKK=MJ <=J

9M;@>eJD_67D Q?!3=A4EI79EAL<=J)A?K>eJ<=F:=KL=F!=JFK=@

>ADE

9MK?=R=A;@F=LOMJ<=




4(1.)70& 05247%* D(('06.+%*4'%*6.+%*'406'4*#.670)

G$87.27.6*7<9;>,1<?855.7#7=.;1*5=>70<9;80;*66 4*776*7-*77<9;.,1.7@.77.<+.26>+524>6 7;.0>70>7- ./5.A287*><5O<=%2;@855.7.27.7 0.<,16*,452,1.7>7-.=12<,1.7;>7-487<.7<72,1= ?.;5*<<.7D

!$.<%*  +0".%)01+$

A=,@F7D:3>FG@9AKL=AFAFL=?J9D=J=KL9F<L=AD<=K ?=K=LRDA;@=F'DA9D3??3G8FD39E<=K*-!MF<KGEAL=AF O=K=FLDA;@=J/=AD<=K"=K9ELHJG?J9EEK =J=?JA>> X,@F7D:3>FG@9SMF<NGJ9DD=E<A= JO=AL=JMF?9M> X^887@F>;5: D75:F>;5:7,@F7D:3>FG@9SDdKL:=AB=<=E MFL=JK;@A=<DA;@=1GJKL=DDMF?=F9MK DD<A=K=1GJKL=DDMF

?=F=FLKHJAF?=F=AF=ENA=D>aDLA?=FMF<G>LKA;@OA<=J

KHJ=;@=F<=FFKHJM;@KHJG>AD<=K+M:DACMEK  $F<=JEG<=JF=F!=JFK=@D9F<K;@9>LMFL=JL=ADLKA;@<9K 5MK;@9M=JHGL=FRA9DAFCD=AF=MF<CD=AFKL=5A=D?JMHH=F  <A=KA;@9M;@AFF=J@9D:<=JDL=JK MF<'A>=KLQD=?JMHH=F AFE9FFA?>9;@=$F<ANA<M9DAFL=J=KK=F9M>KHDALL=F 9<=J *-!?JMF<KaLRDA;@+JG?J9EE>eJ9DD=dKL=JJ=A;@AK;@=F .=@=J$FF=FE9;@L C9FF<9@=JMFK=J=+JG?J9EEKLJ9L=

?A=FMJ9M>=AF=JEd?DA;@KL:J=AL=F1A=D>9DL<=KF?=:GLK :=JM@=F A=K=K:J=AL=MF<=:=FNA=D>aDLA?=+JG?J9EE :=?JeF<=LKA;@9M>d>>=FLDA;@ J=;@LDA;@=F"JMF<KL9F

<9J<K <A=MFK=J=E.=D:KLN=JKLaF<FAK=FLKHJ=;@=F

0FL=J@9DLMF?KGJ?L>eJ.H9FFMF?MF< FLKH9FFMF?MF< G>LE9DK9M;@>eJ+JGNGC9LAGF $EE=J9:=J@9LMFK=J= 0FL=J@9DLMF?>eJEA;@EAL#9DLMF?RMLMF9KE=AFLNGJ 9DD=E<=F0E?9F?EAL(=FK;@=FMF<?=K=DDK;@9>LDA

;@=F2=JL=FAF<=F0FL=J@9DLMF?KK=F<MF?=F<=K*-!  2AJOGDD=F=AF=F?=K;@E9;CDA;@=FMF<=L@AK;@=F "JMF<CGFK=FKFA;@LN=JD9KK=F OAJOGDD=FAFC=AF=E !9DDN=Ja;@LDA;@E9;@=FG<=J<A=$FLAEKH@aJ=N=JD=LR=F  A=K=(9PAE=F?=DL=F>eJ9DD==J=A;@=MFK=J=K 0FL=J@9DLMF?K9F?=:GLK1GF<=JA?76Ke:=J<9K BA>;F;E5:7"343D7FFRMJ+3>=E:AI NGE?JGZ=FH7@F BDA9D3??e:=J<A=(G;L G@63?7E:AIE:AKRM -A>=E?GE;=E7@6G@97@

AF"=KA;@LKHMFCLK;@=AFLEAJAE-9@E=FE=AF=JM>?9

:=:=KGF<=JKOA;@LA? 2AJOGDD=FdKL=JJ=A;@AK;@=K+JG?J9EEEALdKL=JJ=A;@A

K;@=F&eFKLD=J$FF=FMF<+JGL9?GFAKL$FF=F@=JKL=DD=F  <9KAENA=D>aDLA?=F&GFR=JL<=KAFL=JF9LAGF9D=F!=JF

K=@9F?=:GLKNGFMFK=J=E+M:DACME9DKA<=FLALaLKKLA>

L=F<=EH>MF<=FOAJ< 0F<ME?=C=@JLKGDD=F<A=?JGZ=F (=AF=J(=AFMF?F9;@C9FFE9FNGF=AF=E9FKHJM;@K

NGDD=F0FL=J@9DLMF?KHJG?J9EE<9FFKHJ=;@=F O=FF=K 0FL=J@9DLMF?K>GJE9L=<=K*-!9M;@=AF'=AKLMF?K9MK

O=AK<=JdKL=JJ=A;@AK;@=F0FL=J@9DLMF?KD9F<K;@9>LAE :=AE+M:DACMEFJ=?MF?MF<-=>D=PAGF9MKDdKL A= <=MLK;@KHJ9;@A?=F)9;@:9JJ9MEK=AF 9DKG=AF!=FKL=J =?JA>>=X(G3>;F[FSMF<X@EBDG5:SKAF<9M;@:=AMFK=

MF<M>LJALLKEd?DA;@C=ALdKL=JJ=A;@AK;@=J&eFKLD=J$FF=F J=EF?=:GLMFLJ=FF:9JN=J:MF<=F A=K=JFKHJM;@ e:=J<A="J=FR=F@AFO=?  D=AL=LKA;@=AF=JK=ALKNGF<=JMKO9@D<=J$F@9DL=V 9F<=J=JK=ALK9:=J9M;@NGF<=JJLMF<2=AK=<=JHJG

?J9EEDA;@=F0EK=LRMF?9: !$.<%*




$6<-:0)4<=6/706-$6<-:*:-+0=6/ 

AF0FL=JK;@A=<RMCGEE=JRA=DD=F.=F<=JF <=J.AFFE9;@L$F@9DL .LAEEMF?  CeFKLD=JAK;@=JMK<JM;CO=J<=FFA;@L<MJ;@2=J:=MFL=J:J=;@MF?=F?=KLdJL 

=;1+)41-"07?

9KK <=J *-! FA;@L FMJ EAL <=J <9HLAGF AFL=JF9LAGF9D=J !GJE9L= HMFCL=F C9FF  KL=DDL= =J

 MFL=J =O=AK  $GE;53> ;7 *:AI  OMJ<= RME 9M>K=

@=F=JJ=?=F<=F J>GD?MF<N=J:9F<%M?=F<DA;@C=AL &MDLMJMF<0FL=J@9DLMF?  ^>>=FLDA;@ J=;@LDA;@= 0FL=J@9DLMF? KGDD AFKHAJA=J=F  RMJ CMDLMJ=DD=F CLANALaL 9FAEA=J=FMF< G<=JCeFKLD=JAK;@@G;@O=JLA?K=AF A=.@GO?9:/9D=FL=F<A= (d?DA;@C=AL <=J +JaK=FL9LAGF  <=EGFKLJA=JL= <=F 5MK;@9M=J$FF=F ?D=A;@R=A

LA? OA=NA=DK=ALA?MF<>GJ<=JF<<9K"=FJ=>eJ<A=9JKL=DD=J$FF=FK=AFC9FF  9K F?9?=E=FLL9MK=F<=J%M?=F<DA;@=JMF<<A=9CLAN==L=ADA?MF?=AF=K@G

@=F+JGR=FLK9LR=K<=JCF9HH=F(ADDAGF5MK=@=JR=A?=F=J*-!C9FFEALGJA

?AFaJ=F+JG?J9EE=FAFKHAJA=J=F   I'3<2+,/873>.3/=/<#29A+J=>N,/1/=/>D>H?=3-+63/#29A*A+</38/ </=:/5>@966/&/<,/?1?81@9</38/7$+6/8>@98./7@3/6/1/=+1>2+,/8.+== /=.+=38K=>/<</3-283-2>13,>'3<2+,/8.+=/1/8>/36,/A3/=/8-2,/.+8 5/73-2,/3+66/8+?0?8.238>/<./<S28/.3/+?=H?=3-+63/#29A*/>A+= 38D31+<>31/=1/7+-2>2+,/8E

   =06'4*#.670)

06'4*#.670)(E4#..' '8D.-'470)55%*+%*6'0

'9601+819</8D" <91<+77.3</5>9<

)6+16/"<):;

^KL=JJ=A;@ ?=JA=L AFK /9FR>A=:=J  DK !GD?= NGF3@5;@9 *F3DE =JD=:L=F /9FR

K;@MD=F =AF=F =FGJE=F GGE  M;@

 CGFFL=F HJGEAF=FL= &9F<A<9L$F

F=F<9K@=AEAK;@=+M:DACMENGF<=F1GJRe?=F<=JJ@QL@EAK;@=F=O=?MF? e:=JR=M?=F  /J9AFAF?KKLMF<=F  /aFR=V<A=-9@E=F<9L=F<=J=J>GD?

J=A;@KL=F*-! .@GO9DD=J5=AL=F 

%8>/<2+6>?8173>3@/+?<3/1?8.<3/./8 '=G/GDKLGAK-GE9F"D;79G@6D;767@ <=JNGF<=JJMKKAK;@=F"=K=DDK;@9>LRMJ5=AL<=J%3BA>7A@;E5:7@"D;797 ROAK;@=F

MF<  =JRa@DL OMJ<=9DK&GHJG<MCLAGFNGFKA=:=F)9LAGF=F>eJK!=JFK=@=FMFL=J=L=ADA

?MF?<=K*-!F=MN=J>ADEL  -=?A=>e@JL=-G:=JLGJF@=DE <=J:=J=ALKEAL#AKLGJA=FN=J>ADEMF?=FOA="DA@BD;@L)G6A>8

 J>GD?= >=A=JL=)A?K>eJ<A=:=KL=-=?A= 9K (AG MJG +JGB=CLOMJ<=

MF<

9F.;@9MHDaLR=FAF.L  +=L=JK:MJ?MF<'AL9M=FJ=9DAKA=JL 

'/3>/</%8>/<2+6>?81==/8.?81/8=3/2/#/3>/

-:;+0?):B-J?-D #%$6<-:0)4<=6/*-/4-1<-<,-6/-;-44;+0).<41+0-6&)6,-4

9KK 9M;@ 0FL=JKLeLRMF? <=J $FL=?J9LAGF MFL=J@9DLK9E K=AF C9FF  R=A?L <=J F=M=*-! !ADENGF2GD>?9F?(MJF:=J?=J$F<=E

=FLKL9F<=F=FdKL=J

J=A;@AK;@=F!=JFK=@>ADEOAJ<<A="=K;@A;@L=<=K@=JMFL=J?=CGEE=F=F *-7;687>6=JRa@DL <=J<9FC<J=A=JFA?=JA9FAK;@=JKQDO=J:=J=J>GD?J=A;@=J <=FFB=AKL G;@=AF=K/9?=K:=CGEEL=AF=J<=J<J=A&A;C=J<=F:K;@A=:=:=

K;@=A<RM?=KL=DDL 9K?9FR=GJ>AKL:=J=AL >eJK=AF=FXK;@O9JR=F'dO=FSRM CaEH>=F  AFE=FK;@DA;@=KOA=HGDALAK;@=KJ9E9FAEELK=AF=F'9M> "D=A;@

R=ALA?OMJ<==AF=GCME=FL9LAGF>eJ?*5:3GB>3FL=J9J:=AL=L <A=<=F=;@L=F XK;@O9JR=F'dO=FS  EE9FM=DFLA?9 AF)A?=JA9R=A?L  


4(4'7.+%*'570&E6<.+%*'5E$'4&#5'$'0

G2=-.6.*=>;.4.1;=-*< *-28C><.27.; >;.20.7<=.7>74=287>7-";*-2=287C>;P,4  5<;CN15.-2>6<,1*//=.<.27.7*4><=2 <,1.7.0.7.7=@>;/C>-.;>7<>60.+.7-.7 >7-*><>7=.;<,12.-52,1<=.7N;6:>.55.7 0.<9.2<=.75*70@.5=D

&)2&%+". : "01."1+! "1&))"0,+

$F<=JDE'A7F;53<=K#GJ9RKL=@L<=J:=Je@EL=.9LR XGFBDA67EE7HA>G@F3GF67>75F3D7BA7F37 S &GJJ=CLe:=JK=LRL:=<=ML=L<A=KX;7;5:F7DIA>>7@ 7@FI767D@_FL7@A67DG@F7D:3>F7@ S9J9M>>GD?L<=J1=JK X3GFE;?G>7F;G5G@637F;6A@736;57D7H;F37S  RM<=MLK;@XA67DLG9>7;5:D8D7G>;5:7EG@6%_FL>;5:7E _47D63E#747@E397@ S 9KAKL=AF+JAFRAH <9K<MJ;@%9@J@MF<=JL==AF$<=9D>eJ <A=E=FK;@DA;@=&GEEMFAC9LAGF9:?9: (9FC9FF K9?=F ?=J9<=<9KJ=D9LANEG<=JF=)36;A873FGD7>GD?L ?=F9M<A=K=E+JAFRAH 9K73FGD7AKLVOA=9M;@<9K #dJKHA=DV=AF=GJA?AFaJ=&MFKL>GJE <A=9MKK;@DA=ZDA;@ 9MK<=E#dJ>MFC <=E(=<AME-9<AG @=JNGJ?=?9F?=F AKL \KL@=LAK;@J9<AGH@GF AF@9DLDA;@>eJ9DD=KRM?aF?DA;@  O9K=AF="=K=DDK;@9>L:=O=?L AKL<9K)36;A873FGD7 RM?D=A;@D=@JJ=A;@MF<MFL=J@9DLK9E $F=AF=E73FGD7 >e@J=FFA;@L<A=!9;@D=ML=<9K2GJL FA;@L<A= PH=JL$F

F=F 9E2GJLKAF<(=FK;@=FEAL"=K;@A;@L=FMF< "=K;@A;@L=  $E&MDLMJK=F<=J^@9:=F<=J@=MLA?=+JG?J9EE;@=> D>J=</J=A:=JMF<K=AF&GDD=?=-A;@9J<"GDD<9K73FGD7 =L9:DA=JL (AL<=EMFLJe?DA;@=F"=KHeJ>eJA9DG?= <A= C=AFMLGJRM=J>AF<=FN=JE9? KL=DDL=F<A=:=A<=FAF <=F =J%9@J=FA@J.L=J=GEACJG>GFAE+J9L=JMF<AE =AKD AEELMF<AE&DGKL=J9M>MF<>AF?=F* /dF==AF  * /dF= <A=VRM=AF=E@GJRMK9EE=F?=>e?LVFA;@L FMJdKL=JJ=A;@AK;@=.ALL=F:AD<=J KGF<=JFAEO9@JKL=F .AFF=<=K2GJL=KX#^-$' -SRML9?=>dJ<=JL=F X73FGD7@S@9LKA;@9DKFA;@L?=F9MRM<=>AFA=J=F<=J =?JA>> <=J"=KL9DLMF?K>J=A@=ALDaKKLMF<AFB=<=J#AF

KA;@L@G;@KL=@=F<=,M9DALaLAFMKKA;@LKL=DDL K;@GF 

D9F?=AF<A=-9<AGKHJ9;@=?=K;@EM??=DL 1GJ<=J?JeF<A? N=JO=F<=LE9F<A=K=K2GJL ME<=F1GJ?9F?RM :=K;@J=A:=F * /dF=FMF<A@J=E9CMKLAK;@=FE:A=FL= AE-9@E=F=AF=K=ALJ9?KG<=J=AF=J.=F<MF?=AF=F KH=RA=DD=F.L=DD=FO=JL=AFRMJaME=F $E.M:L=PLKGDD 9DD=J<AF?K9M;@<A=:KA;@LCD9JO=J<=F <=E^+M:DA

CME=AF=FEd?DA;@KL9ML@=FLAK;@=F#dJ?=FMKKRMN=J

EALL=DF  AF9CMKLAK;@=K JD=:FAK <9K<A=!9FL9KA= 9FJ=?L<9K-9<AG@dJ=F9M;@RM=AF=EKAFFDA;@=F "=FMKKO=J<=FDaKKL 9K-9<AGC=@JL<9:=ARMK=AF=J MJ=A?=FKL=F!MFCLAGFMF</J9<ALAGFRMJe;CDKDL[:> $76;G?K;@9>>L=K=AF=F9CMKLAK;@=F"=?=F=FLOMJ>RM <=JMFKME?=:=F<=FMF<9MKMFL=JK;@A=<DA;@KL=F'aJE

IM=DD=F?=KH=AKL=F&D9F?O=DL 9KCD9KKAK;@=73FGD7EMKKL=KA;@AE'9M>=K=AF=J PAK

L=FRAE&MDLMJK=F<=J^9DK&MFKL>GJE9M;@F=M=J>AF

<=F EMKKL=EAL#dJ?=OG@F@=AL=F:J=;@=FMF<>eJF=M= 5M?aF?=MF<>GJE9D=_:=JJ9K;@MF?KEGE=FL=KGJ?=F  =FFG;@@9LKA;@:=AE73FGD7=AF=KFA;@LN=JaF<=JL=J M>O9F<=J>GJ<=JL.H=RA9DAKL$FF=F <A=KGOG@DK9;@DA;@ GJA=FLA=JLKAF< 9DK9M;@e:=J?=Fe?=F<L=;@FAK;@=K&dF

F=FN=J>e?=F =Jd>>=FLDA;@ J=;@LDA;@=-MF<>MFC@9LAE '9M>=<=J%9@J=KGD;@=.H=RA9DAKL$FF=F@=J9F?=:AD<=L  9K73FGD7OAJ<=AFE9DE=@JRME%GMJF9DAKLAK;@=F MF<=AF9F<=J=K(9DE=@JRME&eFKLD=JAK;@=FF=A?=F VAFB=<=E!9DD=FLKL=@L<MJ;@<A=B9@JR=@FL=D9F?= +J9PAK<=K73FGD7EAEd>>=FLDA;@ J=;@LDA;@=F-MF<

>MFC=AFMFN=JO=;@K=D:9J=K9CMKLAK;@=K::AD<<=J 2=DL AF<=JOAJD=:=F 0F<<A=K=K9CMKLAK;@=::AD< C9FFX

LG9>7;5:D8D7G>;5:7EG@6%_FL>;5:7E_47D 63E#747@E397@ S

&)2&%+".


!),17-)<=:-;

A=.=F<=J=A@=F+A@EBGD7@ ^D4;>67DMF<;39A@3>:A=L=FK=AL%9@J=F(=AK

L=JO=JC=<A=K=K"=FJ=K 

OA<E=L=KA;@;39A@3>.9EKL9?  V

 0@J M  9  <=F /@=E=F "ADDGBF;A@ Q !767D ;EF =[G8>;5:  D?GF Q *5:;5=E3> *5:3@67*5:G>6 )7;5:FG?QD?GFI3D97EF7D@MF<HGJLJaLA=JL=*;?A@767 73GHA;DQ$GFF7D67E7?;@;E?GEG@6+A5:F7D3GE9GF7?3GE7 

)<16--

A=K= .=F<MF? :A=L=L B=<=F .GFFL9? RO=A .LMF<=F D9F?  V   0@J &GFR=JLEALK;@FALL= 9MK dKL=JJ=A;@AK;@=F MF< AFL=JF9LAGF9D=F &GFR=JLKaD=F  !=KLKHA=De:=JLJ9?MF?=FKGOA='AN=e:=JLJ9?MF?=FNGF&GFR=JL@d@=HMFCL=F  RM <=F=F KGFKL O=FA?=J (=FK;@=F 5M?9F? @aLL=F  5M <=F #d@=HMFCL=F AE .GEE=J

Ra@DL=FM 9 <A=$FL=JHJ=L9LAGFNGF2=JC=FcD99JLGCK<MJ;@ <A=2A=F=J+@AD@9JEGFAC=JMF<'9F?'9F?MFL=J<=J'=ALMF?NGF+A=JJ=GMD=R  KGOA=FLGFJM;CF=JK*K?B:A@;7%D  <AJA?A=JLNGF@JAKLA9F/@A=D=E9FF 

   =06'4*#.670)

05247%*581..'06'4*#.670)+0B

8-:6

.A= KL=@=F KGFKL FMJ =AF=E CD=AF=F +=JKGF=FCJ=AK G>>=F V ^ d>>F=L B=<=F .9EKL9? <MJ;@ <A= MF?=CeJRL=F _:=JLJ9?MF?=F <=F 5M?9F? >eJ 9DD=  <A= =K OeFK;@=F 9RM:A=L=LBDABAE&B7D9E.GFFL9? 0@J.=JA=FOA=  &B7D@7D>74@;EE73GEH;7D!3:DL7:@F7@ 

?9:=KKA=:=F_:=JLJ9?MF?=F9MK <=J(=LJGHGDAL9F*H=J9MF<9;@L'AN= _:=JLJ9?MF?=F9MK<=J2A=F=J.L99LK

GH=J 9RMC9E=FNA=J"=K9EL M>R=A;@FMF?=F9MK<=J1GDCKGH=J2A=FMF< RO=A R=AL?=FdKKAK;@= 9E=JAC9FAK;@= *H=JF 9MK <=E /@=9L=J 9F <=J 2A=F 736$3@.3>=;@9 *FD77F53D%3?767E;D7  (AL <=J MKKLJ9@DMF? <=J *H=J 3E +7EF3?7@F NGF 2AD@=DE &A=FRD 9MK <=E '9F<=KL@=9L=J'AFR?9:=KRM<=EOA=<=J=AF=_:=JLJ9?MF?9MK=AF=EdKL=J

J=A;@AK;@=F'9F<=KL@=9L=J 

)6/-I+0<-

A=/J9<ALAGF<=J.GF<=JHJG?J9EEA=JMF?NGF#3@97@%[5:F7@RM:=KLAEEL=F /@=E=F:=J=A;@=FOMJ<=>GJL?=K=LRL M><=E+JG?J9EEKL9F<=FMFL=J9F<=

J=E<A=#3@97%35:F67D@7G7@^EF7DD7;5:;E5:7@$GE;=DAN=9MK"J9RNGE-%$ 7EF;H3> HJAD <A=#3@97%35:F67D@7G7@^EF7DD7;5:;E5:7@$GE;=9MK<=E '9F<=KKLM<AGMJ?=FD9F<  %MFA <A=#3@97%35:F67D>F7@$GE;=9MK$FFK

:JM;C  M?MKL <A=#3@97%35:F67D@7G7@^EF7DD7;5:;E5:7@$GE;=DAN=9MK "J9R RME 

%9@J %M:ADaME <=K *-! !=KLAN9DK ?GE;=BDAFA=A>> AE EF7;D;E5:7@ :7D4EF  .=HL=E:=J <A=#3@97%35:F67D@7G7@^EF7DD7;5:;E5:7@$GE;=DAN= 9MK.9DR:MJ?9FDaKKDA;@<=J%35:F67D"A?BA@;EF7@ )GN=E:=JKGOA=<A= #3@97%35:F67D$GE77@ *CLG:=J 

1-J:;81-4)4-:1-

A=HM:DACMEKOAJCK9E=F#dJKHA=D=<=K*-!B=O=ADK.9EKL9? 

V

 0@J OMJ<=F =J>GD?J=A;@ >GJL?=K=LRL *3@FA *G4;FA NGF :=J@9J< +=LK;@AFC9 (- *-!=J@A=DL<=F') /,)&'9DKX:=KL=K=MJGHaAK;@=K#dJKHA=DS MF<OMJ<=9M;@EAL<=E#dJKHA=D &JALAC=JHJ=AKAE-9@E=F<=J#3@97@%35:F 67E^DEB;7>E9MK?=R=A;@F=L #=AEALGNGFG<=J=JK;7*FDG6>:A8EF;797<J=A /=AD= :=9J:=AL=LNGF#=DEML+=K;@AF9MFL=J<=J-=?A=NGF-G:=JL(9L=BC9OMJ

<=NGE^+M:DACMERMEX#dJKHA=D<=K%9@J=K

S?=Oa@DL 


#&+1 &#4( 2#A /#%*'0 $.'+$6 #$'46416<&'/ '+0''4056'#%*'

G#7<.;>/=;*02<=.27-.>=20  .5.?*7=>7-;2,1=20 6><<.<<.27>*52=N=6><<.<1*+.7#7*+1N7 0204.2=6><<.27><<<.27;2027*52=N=.27 @.<.7=52,1.<1*;*4=.;6.;46*5>7-7.;4.7 7>70.27*J<=*+>74=D

 ",.$-00 :"+!". %"#

$;@?=KL=@= A;@@9DL=FA;@LKNGF<=J?=D=:L=F/J=F

FMF?ROAK;@=F,@F7D:3>FG@9MF< @8AD?3F;A@ 2=<=J GJ?9FAK9LGJAK;@ FG;@AF@9DLDA;@ =FFO9KMFL=JK;@=A<=L=A?=FLDA;@<=FBGMJF9DAKLA

K;@=F0FL=J@9DL=JNGEMFL=J@9DL=F<=F%GMJF9DAKL=F  O9K<=F.9LAJAC=JNGEF9DQLAC=J <=FCJ=9LAN=F+JG

?J9EE=FLOA;CD=JNGECJALAK;@=F$FL=JNA=O=J HJGHGK$KL=A?=FLDA;@<=J&9JAC9LMJAKL=AF=J/9?=K

R=ALMF?E=@JG<=JO=FA?=J%GMJF9DAKL9DK<=J-=<9C

L=MJ <=J<A=La?DA;@=FMKD9F<K ?=FLMJ (=D<MF?=F RM=AF=J5MK9EE=F>9KKMF?J=<A?A=JL0F<O=D;@=J NGF:=A<=FAKLE=@JG<=JO=FA?=J0FL=J@9DL=J %9 <9KHJGNGRA=JL=AF=F=FLK=LRL=FM>K;@J=A<=J ?=F=A?L=F'=K=J$FF=F<A=K=KM>K9LR=K X

FKB;E5: X

:3F=7;@7:@G@9HA@67@HA?&):;EFAD;E5: G@6?76;7@BA>;F;E5:47E7FLF7@;E=GEE;A@7@

=7@@F @;5:F7;@?3>6;77;@E5:>[9;97@+7D?;@;F75:@;5;S=L; #AFL=J<A=K=EM>K;@J=AKL=;CL-=NA=JN=JL=A<A?=FMF< <9K:KA;@=JFNGF?=D=JFL=E AF>DMKKMF<LJ9<ALAGF=D

D=F1=J@9DL=FKEMKL=JFVKGOG@DGJ?9FAK9LGJAK;@9DK 9M;@AF@9DLDA;@ KGOG@DNGF9MZ=F EALG>LRO=A>=D@9>

L=F(GLAN=F9F<=F*-!@=J9F?=LJ9?=F 9DK9M;@*-!

AFL=JF 9MKE=AKL=:=FKGRO=A>=D@9>L=F(GLAN=FEAL NA=D'A=:=?=H>D=?LMF<?=@=?L 0FK=JM>LJ9?V9DKG<=JM>LJ9?9FKG?=F9FFL= 0FL=J@9DLMF?K G<=J$F>GJE9LAGFKJ=<9CL=MJ= G:9F <A=-=<9CLAGF<=K&) )7BADFG<=J9F^VAKLFA;@L FMJNGJ<=E"=K=LR=AF<=MLA?MF<MFEAKKN=JKLaF<

DA;@ =JAKL=K9M;@AF<=J-=9DALaL 0F<<A=K=JM>LJ9? AKLFA;@L9FFa@=JF<KGCGEHDARA=JL OA=OAJA@FMFK 

K=D:KL=JCDaJ=FOGDD=FMF<A@FMFKNGF9F<=J=F =JCDaJ=FD9KK=FEeKK=F -=D=N9FLMF<JA;@LA?EMKK=KK=AF ,M9DALaLEMKK=K @9:=F 0F9:@aF?A?C=ALEMKK=AF(MKKK=AF *JA?AF9

DALaL=AFO=K=FLDA;@=K@9J9CL=JE=JCE9DMF<F=J

C=FFMF?=AF(9ZKL9:+MFCL 9KAKL<=JM>LJ9?9F<=F*-!V9F @8AD?3F;A@MF< ,@F7D:3>FG@9 G@F=0FL=JK;@A=< 9KN=J:AF<=L @8AD ?3F;A@MF<,@F7D:3>FG@9 )*&MF<^ =D7GLG@6 CG7DMF<<A=1; 3@5;@9*F3DEMF<<A=*-! &GJJ=K

HGF<=FL$FF=FAF9DD=J2=DL 0F<<9KAKL9M;@<=J d>>=FLDA;@ J=;@LDA;@=0FL=J@9DLMF?KO=JLNGF^ A=K=EM>LJ9? AF<A=^ .HJ9;@=e:=JK=LRLC9FF E9F9M;@NGEX $3D=7@=7D@KHJ=;@=F @9:=F9DD= ^ CLANALaL=FRM>GD?=FVG: @8AD?3F;A@G<=J,@F7D :3>FG@9 *:%35:D;5:F7@ *7DH;57G<=JA?76K G:$GE;=3GE I3:>G<=JA??G@;FK MF<:3D;FK CLAGF=FVJ=D=

N9FLMF<JA;@LA?EeKK=FKA=K=AF KA=EeKK=F=AF #d;@KLE9Z9FAF@9DLDA;@=JMF<?=KL9DL=JAK;@=J,M9DA

LaL@9:=F <A=0F9:@aF?A?C=ALAKLC=AF-=;@L KGF<=JF +>DA;@L *JA?AF9DALaLAKL<9KO=K=FLDA;@=@9J9CL=J

E=JCE9DMF<<A=F=JC=FFMF?AE!9DDNGF^<A= F=JC=FFMF?=AF=KK=@J?JGZ=F+M:DACMEKAKL=AF RMLA=>KLd>>=FLDA;@ J=;@LDA;@=J(9ZKL9: =AKHA=D=9MK<=E^ DDL9??A:L=K<9RMG@F= F<= $;@O=A?=J=EA;@9:=J AF<=Jd>>=FLDA;@=FAKCMKKAGF ME<=F0FL=J@9DLMF?KO=JLNGF^=AF="J=FRRA=@MF? ROAK;@=Fd>>=FLDA;@ J=;@LDA;@=JMF<FA;@Ld>>=FLDA;@

J=;@LDA;@=J0FL=J@9DLMF?RM<=>AFA=J=F <A=e:=J<A=


   =06'4*#.670) =>AFALAGF<=Kd>>=FLDA;@ J=;@LDA;@=FM>LJ9?K@AF

9MK?=@L .GOA=A;@9M;@EAL9DD=J1=@=E=FR<A= -=<MCLAGF<=JM>?9:=NGF^9M><A=-GDD=9DK 9K@;GO>eJ^9:D=@F= =FFO9KKL=@L9F<=J=K <9@AFL=J9DK<A=FF9@E= <A=XFA;@LKG^>>=FLDA;@

-=;@LDA;@=FSOeJ<=F<A=XRMLA=>KL^>>=FLDA;@ -=;@LDA

;@=FS>AF9FRA=J=F $KL<9K:KHA=D=F<=J*G;F7%D  ;@ GD.- 9MK<=JX.3EE7D?GE;=SNGF"=GJ?!JA=<JA;@#aF<=D 9M>^FMFE=@JG<=JO=FA?=Jd>>=FLDA;@ J=;@LDA;@9DK R  <A=+JaK=FL9LAGF=AF=KF=M=FD:MEK<=J:=<=M

L=F<KL=FD=:=F<=F+GHCeFKLD=JAF $KL<A=)9;@JA;@LNGE F<=<=J?JGZ=F&G9DALAGFAF <=F2GJL=F<=K1AR=C9FRD=JKXED7;5:FS9DK)9;@

JA;@LAF!GJE=AF=J9CLM=DD=F+JG?J9EEMFL=J:J=;@MF? 9M>^E=@JG<=JO=FA?=Jd>>=FLDA;@ J=;@LDA;@ 9DK<A= <A=K:=Re?DA;@=$F>GJE9LAGFAF<=J=FLKHJ=;@=F<Fa;@KL

>GD?=F<=F)9;@JA;@L=FK=F<MF?AE^+JG?J9EE $KL<A=CGEd<A9FLAK;@=.9LAJ=RMEL9?=KHGDALAK;@=F "=K;@=@=FAEX .75=7DFMFE=@JG<=JO=FA?=J d>>=FLDA;@ J=;@LDA;@9DKR  C9:9J=LLa@FDA;@=!GJE9L= <=JA@@7DEF39%35:F $KL<A=+M:DACMEK<AKCMKKAGF9DK+@GF= AF .=F<MF? 9M>^O=FA?=Jd>>=FLDA;@ J=;@LDA;@9DK-A@+39LG+39 MF<#, AKCMKKAGF=F $KL<A='AN= _:=JLJ9?MF?<=J&>K?B;3 FLK;@=A<MF? e:=J (=L=J-e;C=FK;@OAEE=F<=J#=JJ=FAE1GJ

EALL9?KHJG?J9EENGF^FMFO=FA?=Jd>>=FLDA;@

J=;@LDA;@9DK<A=.7>F<AGD@3> -=HGJL9?=RM!J9?=F<=J +J=KK=>J=A@=ALAF@AF9

*<=J9F<=JK?=>J9?L $KL<A=BGMJF9DAKLAK;@=!GJE<=K$FL=JNA=OK <=J-=HGJL9

?= <=K=JA;@LK <=JMZ=FK=F<MF? <=JGEEMFALQ

AD<MF? <=JJ9E9LMJ?A=MF<+JG?J9EEA=JMF?AFA@J=E B=O=ADA?=Fd>>=FLDA;@ J=;@LDA;@=F0FL=J@9DLMF?KO=JL9MK

K;@DA=ZDA;@9:@aF?A?NGF<=JB=O=ADA?=F,M9FLALaL<=J CR=HL9FR<MJ;@<9K+M:DACME .GG<=JKGa@FDA;@9J?ME=FLA=JL<9KR  <=J+JaKA<=FL <=K-X1AF=AF=JMKK=F<MF?NGE%MDA  O=FF=J <9NGFKHJA;@L <9KK<=J(9JCL=FLK;@=A<= AFO=D;@= BGMJF9DAKLAK;@=FF?=:GL=X<=J.L99L=AF?J=A>=F<eJ>=S .=D:KLN=JKLaF<DA;@EeKK=FR  MJ?L@=9L=JMF< .L99LKGH=JO=?=FA@J=KM>LJ9?K O=?=F<=J JO9J

LMF?K@9DLMF?A@J=K+M:DACMEKMF<O=?=F<=J"JdZ= A@J=J5MK;@9M=JJaME=HJGHGK9KAKL<A=KAEHD= =>AFALAGF<=KK=F O9KE9FAE-9<AGAD?3F;7DG@9 F=FFL9F<=JKHJG?J9EEA=J=FMF<AFKR=FA=J=F  9DKR  C9<=EA=L@=9L=JG<=J1GDCKGH=J 29KKA=9:=J?=E=AFK9E@9:=F .A=OGDD=F F=AF KA=?_EE7@MFL=J@9DL=F .A=KAF<AFA@J=EM>LJ9?<9RMN=JH>DA;@L=L 9K^>>=FLDA;@ -=;@LDA;@=9E,@F7D:3>FG@9EI7DFNGF ^AKL<9KN=J:JA=>L=-=;@L<=J^>>=FLDA;@C=AL<9J9M> =K AKL9DKG<A=1=JH>DA;@LMF?MF<1=J9FLOGJLMF?NGF^  K=AF+M:DACMERMG@F7D:3>F7@ -=D=N9FLMF<JA;@LA?EMKK=KK=AF ,M9DALaLEMKK=K @9:=F 0F9:@aF?A?C=ALEMKK=AF(MKKK=AF *JA?AF9DA

LaL=AFO=K=FLDA;@=K@9J9CL=JE=JCE9DMF<F=JC=F

FMF?=AF(9ZKL9:+MFCL

",.$-00 


'+6'4'+)*.+)*65&'406'4*#.670)

$F<=FN=J?9F?=F=F%9@J=F@9LKA;@<A=dKL=JJ=A;@AK;@=(MKACKR=F=NGF"JMF< 9M>=JF=M=JL *-! $FALA9LAN=FOA=*F3D?3@;3 <=J$ *AG@6B3D=G<=J<=J X *AG@65:75=@9LL=F=AF=F?JGZ=FFL=AD<9J9F #ALJ9<AG^ KL=A?=JL=<9K ?9FR=%9@Je:=JAE-9@E=F<=J?JGZ=FMF<D9F?>JAKLA?=F&9EH9?F=;7%7G 7@XEF7DD7;5:7DQ%7G7D'ABG@6)A5=3GEXEF7DD7;5:<A==C9FFL@=AL<=JdK

L=JJ=A;@AK;@=F&eFKLD=J  K:D=A:L<9K5A=D <=F%7G7@XEF7DD7;5:7D@=AF=+D9LL>GJERM:A=L=FMF<KA= <9EAL<=E+M:DACMEN=JLJ9ML=JRME9;@=F 

G "7=6,+0-+3

0FL=J<=E.DG?9FX"=KM;@L)=M=J+GHMF<-G;C9MK^KL=JJ=A;@SK;@A;CL=<9K #ALJ9<AG^ <=FX *AG@65:75=AF<A=<JALL=-MF<= MF<  9F<KE9;@L=F :=AE?JdZL=F9F<O=LL:=O=J:<=K'9F<=KEAL  AF+D9LL=FN=JLJ9?MF<R9@D

J=A;@= M>LJALL= :=A ^ 1=J9FKL9DLMF?=F O9J=F <A= .A=?=KHJaEA=  <A= 9F <A= "JMHH='>G4EAL<=E.A=?=JLAL=DX$7:D$77DS?AF? 

=6/-$6<-:0)4<=6/;3=4<=:15-=:78I1;+0-6"81<B-6.-4,  

MJ;@<A=ADAF?M9DALaL<=K.=F<=JK <A=&GFR=FLJ9LAGF9M>(MKAC9:K=ALK<=K (9AFKLJ=9EKKGOA=<A=BGMJF9DAKLAK;@ J=>D=PAN==K;@a>LA?MF?EAL<=J<AN=J

KA>ARA=JL=F2=DL<=J%M?=F< MF<+GHCMDLMJ@9LKA;@=AF=KL9JC= :=J=A;@Ke:=J

?J=A>=F<=GEEMFALQ?=:AD<=L <A=!(EALLD=JO=AD=9DKK=D:KLN=JKLaF<DA;@=K "ML:=LJ9;@L=L <9K<=J*-!AE-9@E=FK=AF=Kd>>=FLDA;@ J=;@LDA;@=FM>LJ9?K 9FRM:A=L=F@9:=  A=KH=RA>AK;@=/GF9DALaL EAL<=J!(K=AFBMF?=K+M:DACME9FKHJA;@L LJA>>L 9M;@AEMKD9F<9M>5MKLAEEMF? $F<=J7D>;@7D+397EL7;FG@9OMJ<=!(AE .GEE=J

9DK:=KL=J<=MLK;@KHJ9;@A?=J-9<AGK=F<=J9MK?=R=A;@F=L <9K =AF>DMKKJ=A;@==F?DAK;@='A>=KLQD= (9?9RAF$A@A5>7J=A@L=<9K:ADAF?M9D=!( CeJRDA;@MFL=J<A=K=;@K:=KL=F-9<AGHJG?J9EE=O=DLO=AL 

/-0J:</-?=;;<);G =4<=:9=1B

9K -9<AGIMAR OAJ< Od;@=FLDA;@ B=O=ADK KGFFL9?K   V

 0@J 9MK?=

KLJ9@DL A=!J9?=FH9D=LL==JKLJ=;CLKA;@e:=J<A=MFL=JK;@A=<DA;@KL=F/@=E=F  <A=AF<=JN=J?9F?=F=F2G;@=9CLM=DDO9J=FMF<e:=J<A=AE-9<AG:=JA;@L=L OMJ<= .;@O=JHMFCLAKL<9:=A&MDLMJ 9:=JAF=AF=EO=AL?=>9KKL=F.H=CLJME  A=.=F<MF?>9F<9DK'AN=N=J9FKL9DLMF?AE&)"G>FGD387EAL+M:DACMEKL9LL 

-:G 4);;13#:-..8=63<

A= EG<=JA=JL= (MKACK=F<MF? >AF<=L B=<=F .9EKL9?  V   0@J DAN= NGJ +M:DACME AE &) "G>FGD387 KL9LL MF< HJaK=FLA=JL )=M=JK;@=AFMF?=F  KL=DDL=AF=67D.A5:7NGJ :JAF?L(MKACJaLK=DKGOA==AF.LM<AG?=KHJa;@EAL 9FO=K=F<=F.L9J?aKL=F 

M 9 $G9F#GD=F<=J )ACGD9MK#9JFGF;GMJLMF< @JAKLGH@&9J<AF9D.;@dF:GJF 

$""-:1-651<1>-)=

29JMEKHA=DL<=J*-!7EB7D3F7AGE7I;H7E D AGE7MF<D7KE@3FA?K A= FLOGJL 2=AD KA= HJG>=KKAGF=DD= MF< NA=D>9;@ 9MK?=R=A;@F=L= 0FL=J@9D

LMF?K>GJE9L=KAF< DD=AF<A=K=<J=A.=JA=FOMJ<=FAF<=FD=LRL=F%9@J=FEAL AFK?=K9EL ??KEMF<A>67@>A47E9MK?=R=A;@F=L 




5O=A<=J:=DA=:L=KL=F&9:9J=LLAKL=F<=K'9F<=K (A;@9=D)A9N9J9FAMF<F<

J=9K1AL9K=C =J>AF<=F

<9K"=FJ=<=J:=F< .AL;GE>eJ<9KdKL=JJ=A;@A

K;@=+M:DACMEF=M 0FL=JKLeLRLO=J<=F<A=:=A<=FAF<=JRO=AL=F.L9>>=DNGF HJGEAF=FL=F"9KL9M>LJALL=F 

G :K0;<K+3*-151:

D9M<A9.Ld;CDK"=KHJa;@=EAL:=Je@EL=F(=FK;@=FG<=J(=FK;@=FEALAF

L=J=KK9FL=F'=:=FK?=K;@A;@L=F9E.GFFL9?NGJEALL9? 

V

0@JKAF< K=AL%9@J=F!APHMFCL>eJNA=D=^ #dJ=J$FF=F !eJ9DD='9F?K;@Da>=J$FF=F:A=

L=L^ 9M>K=AF=J#GE=H9?==AF=F'A653EF9DD=.=F<MF?=FCdFF=FCGKL=FDGK <GOF?=DG9<=<MF<=AF>9;@KHaL=J?=@dJLO=J<=F 

 !),17"-;;176;

   =06'4*#.670)

7>7<6A=6,):7=,1

A= $  )36;A *7EE;A@E EAL F9E@9>L=F &eFKLD=J$FF=F V

 =LO9 EAL .;D *;@6 7>67@ V >AF<=F NGJ =AF=E AEE=J OA=<=J :=?=AKL=JL=F +M:DACME KL9LL  A=.=KKAGF /A;C=LKO=J<=FFA;@LN=JC9M>L KGF<=JFMFL=J<=F!( #dJ=J$FF=F N=JDGKL A=.=KKAGFKKAF<KGEALAE!( +JG?J9EE=:=FKGOA=AE2=: M>LJALL <=K.=F<=JKOG;@=FD9F?HJaK=FL<A=/A;C=LKKAF<:=?=@JL=/JGH@a=FMF<<A= MKKLJ9@DMF?<=K(ALK;@FALLKAKL=AFF9;@LJa?DA;@=K+JG?J9EE #A?@DA?@L

1-144176-6;07?"8-+1)4;

=J*-!HJG<MRA=JLF=:=F<=F?=OG@FL=J>GD?J=A;@=F.=F<MF?=FEALJEAF KKAF?=J9M;@AEE=JOA=<=J.H=RA9D9MK?9:=F .G=LO9<A=";@67D $;>>;A@7@ E:AI G<=J<A='DA?; $;>>;A@7@E:AI AF<=J:=C9FFL=&9F<A<9L$FF=F>eJ=AF=F OG@DLaLA?=F5O=;CA@J=?J9M=F5=DD=F9FKLJ=F?=F E !=:JM9J

=JKHA=D

L=F<A=+JGEAKAFK?=K9EL

 MJG>eJ<A=*-! CLAGF#;5:F;@EG@=7>

7:.5=;1+61/0<

*: &GFR=JL@A?@DA?@L  (MKAC<GCM G<=J O9J< .H=;A9D V EAL <=J AD8 ?GE;5

@;9:FAKLK=AL HJAD

B=<=F.9EKL9?ME;9 

0@JAF*-!:=K

L=EMKAC9DAK;@=0FL=J@9DLMF??9J9FLA=JL ^ (G<=J9LGJ=FFQ#dJLF9?D>e@JL <MJ;@<A=AD8 ?GE;5 @;9:F1GF,e:=J3@F3 :AK@AFRMJ-9KF=M=*-!

.;@=E9 :A=L=L <=J +GHCMDLMJ =AF=F =A?=F=F J=?=DEaZA?=F .=F<=HD9LR  9M> <=E9M;@<A=R=@FL=ADA?=*-! GCM.7>F47D_:?F;@XEF7DD7;5: HJG<MRA=JLNGF GD=R9D-GKK9;@=J 9MK?=KLJ9@DLOMJ<= 

-:&16B-:3J61/ 1-B?-1<-"<)..-4

A= J>GD?K?=K;@A;@L=OAJ<>GJL?=K=LRL F=M=!GD?=F<=J:=DA=:L=F/1 .=

JA= EAL#9J9D<&J9KKFALR=JAF<=J#9MHLJGDD= OMJ<=F

>eJ<=F*-!AF5M

K9EE=F9J:=ALEAL<=J-HJG<MRA=JL 0F<=KOAJ<.=JA=FMFL=J@9DLMF?>eJ<A= ?9FR=!9EADA= O=AZ/AL=D<9JKL=DD=J#9J9D<&J9KKFALR=J X 5: 8D7G7 ?;5: 63EE I;D G@E FD3G7@ D;5:F;97 7E5:;5:F7@ LG 7DL[:>7@ G@6 @;5:FB>3FF;F_67@:38FE;@6  @EA87D@4;@;5:E7:DEFA>L63EE7EG@E?;F67?&) G@667D);??7DI;767D97>;@9FG@E_47D6;7@AD?3>7*7D;7@8AD?:;@3GELG 47I797@G@67;@7D;5:F;973?;>;7@E393LG7DL[:>7@ S




=.<:)/   

 

 

 

  

-1;<=6/ 

   

   

   

   

   

2AKK=FMF<AD<MF? >eJ9DD==NdDC=JMF?KK;@A;@L=F MF<(ADA=MK AF=d>>=FLDA;@=(=<A9L@=C<=K 2AKK=FK<=J2=DL *>>=F RM?aF?DA;@ MF<N=JKLaF<DA;@>eJ9DD=  AD<MF?K9F?=:GL=G@F=M>HJ=AK   EALDA;C9M><A=5MCMF>L

-0:?-:< &"" 706-(=/)6/;+7,-



G%2..;;.2,1.2,1-*<<-2.7*,1@*,1<.7-.7.7.;*=287.7<2,162=-.7*7<9;>,1< ?855.74>5=>;.55.7>7-@2<<.7<,1*/=52,1.771*5=.7+.<,1N/=20.7-2./P;;/27 ->70<;.2,1=>6>7-&>4>7/=</N1204.2=-.;.<.55<,1*/=>7*+-270+*;78=@.7-20 <27-%2.+5.2+=271*5=52,1@.;=?855.;!=8//<2,1=+*;D 8==/;2.-*70.7<=.27 ";N<2-.7=




$F>GJE9LAGFMF<AD<MF??=OAFF=FAF=AF=J5=ALKA;@J9K;@ =FLOA;C=DF<=J/=;@FGDG?A=FAEE=JE=@J9F=<=MLMF?  2AKK=FMF<2AKK=FK;@9>LKGDD=F9DD=FG>>=FKL=@=F  ^>>=FLDA;@ J=;@LDA;@=J-MF<>MFCAKL<9@=J<=J?=K9EL=F =NdDC=JMF?N=JH>DA;@L=L=F&DM?=FMF<B=F=F <A==K FG;@O=J<=FOGDD=F =F J>9@J=F=FMF<<=FM;@KL9:A=

J=F<=F =F AF@=AEAK;@=FMF<<=F5M?=O9F<=JL=F  9KAKL=AFM>LJ9?>eJ<=F*-! =AF=#=J9MK>GJ<=JMF?>eJ ?=E=AFOG@DGJA=FLA=JL=&GEEMFAC9LAGF AD<MF?AEMF< <MJ;@<=F*-!AKLd>>=FLDA;@=K-=;@L  $#-d>>=FLDA;@=K-=;@L

:)3<1;+0-:=<B-6  AF2AKK=FKO=JL>eJ?9FR^KL=JJ=A;@




+&2"./1*#.57#.+6C65/#4-'

G>*52=N=>7->8=.@*;.7<.2=-.;;P7->70?87 F#72?.;<>6)72..27.0.7<*=C9**;<87-.;7-2. !=.20.;>70+.2-.;;/850<9*;*6.=.;@*;-*< *70.<=;.+=.&2.5D

)0".<%)". +&2"./1*

 O9J>eJ<A=(9JC=,@;H7DEG?=AF%M:ADaMEKB9@J$E .=HL=E:=J OMJ<=<A=VF=:=F<=J17;F;?;>6V OA;@LA?KL=/J9<=E9JC<=K*-! %9@J=9DL 2A=BMF?<A= J>GD?KE9JC=F9;@OA=NGJAKL :=OA=K<A=%M:ADaMEKK=F

<MF?AF.HA=D>ADEDaF?=EAL+JGR=FL(9JCL9FL=AD  (AL,@;H7DEG?@9L<=J*-!=AF=E=@J>9;@=,M9<J9LMJ <=K&J=AK=K?=K;@9>>L (AL=AF=E=A?=FLDA;@RMCD=AF=F &=JFL=9EAE*-!VFMJ>eF>-=<9CL=MJ$FF=F>eJRO=A #9MHL9:=F<L=JEAF=HJG2G;@=V@9L,@;H7DEG?=JKL=FK :=OA=K=F <9KKE9FEALd>>=FLDA;@ J=;@LDA;@=FAD<MF?K

AF@9DL=F O=FFKA=JA;@LA?9M>:=J=AL=LO=J<=F K=@JOG@D ,MGL=E9;@=FC9FF ,@;H7DEG?OGDDL=MF<OADDFA= :=D=@J=F<OAJC=F KGF<=JFK=AF+M:DACMEAEE=JAE :=KL=F.AFF=<=K2GJL=KMFL=J@9DL=F  :=J,@;H7DEG?AKLFA;@LFMJ=AFd>>=FLDA;@ J=;@LDA;@=K !GJE9L =KAKL9M;@=AF=K<=JCGEE=JRA=DD=J>GD?J=A;@K

L=F %=<=K%9@JOAJ<<9KEAL=LO9<J=A=AF@9D:(AG  MJG >eJ #9MHL9:=F<K=F<MF?=F<G;@J=;@LK;@E9D=,@; H7DEG? %9@J=K:M<?=LNGF<=J-=<9CLAGF<MJ;@<A=AFL=J

F9LAGF9D=&GHJG<MCLAGFE=@J9DKN=J<GHH=DL  ,@;H7DEG?AKL@=ML=O=DLO=AL<A=)MEE=JRO=A@AFL=J <=EJ9F;@=F?A?9FL=F FG;@NGJ;E5AH7DKMF< %3F;A@3>7A9D3B:;5  %=<=K%9@JCGEE=F=LO9 F=M=+JG<MCLAGF=F9MK<=J ,@;H7DEG? 2=JCKL9LLAF<=F2=DLN=JLJA=: <A=NGF<=F A?+D9Q=JF<=JJ9F;@=CGHJG<MRA=JLO=J<=F ,@;H7D EG?KL=DDL>9KL<A=#aD>L=<=K0EK9LR=KNGF&) *3>7E  ,@;H7DEG? !ADE=KAF<>9KLe:=J9DD9M><=J2=DLRMK=@=F

M;@<9K:=<=ML=L'G4>;5-3>G7A=&GHJG<MCLAGFKKME

E=F=:=FKGOA=<9K*-! &9HAL9DKL=;CL<A=,@;H7DEG? -=

<9CLAGFAF<A=dKL=JJ=A;@AK;@=!ADEOAJLK;@9>L  ,@;H7DEG?HJG<MRA=JLK=AF=?JGZ=F/@=E=F9MKK;@DA=Z

DA;@EALdKL=JJ=A;@AK;@=F+JG<MR=FL$FF=F:RO >GJEL &GHJG<MCLAGF=FROAK;@=FdKL=JJ=A;@AK;@=F!AJE=FMF< AFL=JF9LAGF9D=E&J=9LANHGL=FRA9D =FFNGF<=J.LJMCLMJ @=J?D=A;@L<A=,@;H7DEG? !9EADA==AF=E.GFF=FKQKL=EV EAL<=J*-! -=<9CLAGF9DK!APKL=JFMF<&J9>LIM=DD=AF<=J (ALL=MF<<=FdKL=JJ=A;@AK;@=F+JG<MR=FL$FF=F9DK+D9F=

L=FAFMFL=JK;@A=<DA;@F9@=F0ED9M>:9@F=F A=K=K.QK

L=E@9L<A=(9JC=,@;H7DEG?F9LAGF9DRM=AF=E<=J :=DA=:L=KL=F!=JFK=@HJG?J9EE=<=J^KL=JJ=A;@=J$FF=F ?=E9;@L  0F<<A=K=KH9JLF=JK;@9>LDA;@=.QKL=E <9K=AF?=K;@DGK

K=F=KM>LJ=L=FNGF*-!MF<+JG<MR=FL=FK;@9>LMFL=J =AF=E?=E=AFK9E=F'9:=D9E2=DLE9JCL=JEd?DA;@L  @9L,@;H7DEG?AFL=JF9LAGF9DRM=AF=E?JGZ=FMK@aF

?=K;@AD<<=K*-!?=E9;@L A= JFL=NGF %9@J=F,@; H7DEG?KAF<FA;@LFMJRM>JA=<=F=.=@=J$FF=FAF9DD=F 5A=D?JMHH=FAF^KL=JJ=A;@V,@;H7DEG?AKLB99M;@ J9LAF?KEaZA?<9K?JdZL=&AF<=JHJG?J9EE<=K*-!V  KGF<=JF9M;@e:=J<A=&GHJG<MCLAGF=FMF<<=F+JG

?J9EEN=JC9M>AF<=J?9FR=F2=DL  A=,M9DALaL<=JdKL=JJ=A;@AK;@=F+JG<MCLAGFAF.9;@=F %3FGD7 *5;7@57MF<;EFADKOMJ<=EALE=@J9DK AFL=J

F9LAGF9D=F+J=AK=F9MK?=R=A;@F=L <9JMFL=J9M;@<A=9DK X?JeF=*K;9JKS:=C9FFL=F#9MHLHJ=AK=<=J!=KLAN9DKNGF D;EFA>MF<!35=EA@A>7 <=JJ=FGEEA=JL=7E53DF7E 'D7;E <=JGDAB[;E5:7@,@;A@MF<NA=D=9F<=J=

)0".<%)". 


$61>-:;=5

=J*-!K=F<=L=AE%9@J

AFK?=K9EL .LMF<=F!ADE9MK<=J-=A@=,@; H7DEG? 2a@J=F<KA;@,@;H7DEG?9EA=FKL9? 0@J *-! 9M><=FCD9K

KAK;@=F /A=J>ADE CGFR=FLJA=JL  HJaK=FLA=JL=,@;H7DEG? 9E GFF=JKL9?   0@J *-! 9F<=J=!9;=LL=F<=J)9LMJMF<:JAF?L<A=K;@dFKL=F.@GLK <A=:=

=AF<JM;C=F<KL=F.LGJQKe:=J<A=2MF<=JMF<-aLK=D<=J J<=MF<<=K&GKEGK 

 >=A=JL= <9K =J>GD?J=A;@= !GJE9L <=F  "=:MJLKL9?  9RM OMJ<= <9K @MF<=JLEAFeLA?= .H=;A9D  !3:D7 ,@;H7DEG? HJG<MRA=JL MF< 9MK?=KLJ9@DL  <MJ;@<9K+JaK=FL9LGJ JA;@+JdDD>e@JL=  KO9J=AFDA;C@AFL=J<A=&MDAKK=F  :=A<=EE9F<A=@9JL=J:=AL<=J)9LMJ>ADE=J$FF=FEAL=JD=:=FCGFFL= 

   = +55'0

5%*#((6 +55'0

$2/7/8=-2A/<:?85>637+A+8./638%83@/<=?7 .H9FFMF? MF< 2AKK=F  F=M= JC=FFLFAKK= MF< ?DG:9D= 5MK9EE=F@aF?= :J9;@L= <A=  GCME=FL9LAGF *5:3FF7@_47D67DD67Q3E':[@A?7@>A43>;??;@9NGF9NA<.AF?LGF <A=9DK,@;H7DEG? *B7L;3>9MK?=

KLJ9@DLOMJ<= $EFK;@DMKK<AKCMLA=JL=AF*5:3FF7@_47D67DD67Q7D&", +3>=MFL=J<=J'=ALMF?NGF$F?JA< /@MJF@=J=AF=AFL=JF9LAGF9D= PH=JL=F$FF=FJMF<=<=F>A43> ;??;@9 7=F A=RO=AL=+:7?7@E5:I7DBG@=F GCME=FL9LAGF%GD7;@D36?7:D9E %9FM9J

=JJ=A;@L=EAL<MJ;@

K;@FALLDA;@

5MK;@9M=J$FF=F<=F<JALL@d;@KL=FA=FKL9? ,@;H7DEG? 2=JLK=AL



-?<76

9JGDAF9$F9E9HJaK=FLA=JLAE*-! 2AKK=FK;@9>LKE9?9RAF%7IFA@B=<=2G

;@=.9EKL9?  0@J *-!)=M=K9MK<=J2=DL<=J2AKK=FK;@9>L  M>K=@=F=JJ=?=F<= OAKK=FK;@9>LDA;@= J?=:FAKK=  KH9FF=F<= PH=JAE=FL=  2AKK=FEAL@9 >>=CLV<9KMF<E=@JE9;@=F<9KF=M=2AKK=FK;@9>LKE9

?9RAF RME CGEH=L=FL=F MF< MFL=J@9DLK9E=F +JG?J9EE  $F   .=F<MF?=F E=D<=L= KA;@ %7IFA@

 9MK '9:GJK MF< NGF 9F<=J=F .;@9MHDaLR=F <=J 2AKK=FK;@9>L .H=RA9D9MK?9:=F<=J.=F<MF??9:=K9FDaKKDA;@<=J&) +:7 ?7@E5:I7DBG@=F7">;?3I3@67> ";@67D MF<D@[:DG@9 5M<=ER=A?L=%7I FA@AE.GEE=J=AF=NA=JL=ADA?=D "@AI .=JA= AF<=JDDL9?KE=AFMF?=FOAK

K=FK;@9>LDA;@e:=JHJe>LOMJ<=F 

6)67D);(=3=6.<;5)/)B16)=. ;)<

9K 2AKK=FK;@9>LKE9?9RAF NGF K9L (GFL9? :AK !J=AL9?    0@J  K9L OAJ<NGE*-!?=E=AFK9EEAL<=F K9L +9JLF=JF- 5!MF<<=E.;@O=AR=J !=JFK=@=F?=KL9DL=L @3@AV<9KAKLLa?DA;@ (AFML=F2AKK=FK;@9>L>9KRA

FA=J=F<=AD<=J9MK<=J2=DL<=J)9LMJ MF<"=AKL=KOAKK=FK;@9>L=F <=J/=;@

FAC MF< <=J (=<ARAF  =JA;@L= e:=J !GJLK;@JALL= AF <=J !GJK;@MF?  <=F 29F

<=DAF<=J"=K=DDK;@9>LMF<e:=J1=JaF<=JMF?=F<=J0EO=DL @3@AOADDG@F= >>=CL@9K;@=J=A MF< .H=CMD9LAGF=F >9CL=FJ=A;@ MF< KH9FF=F< AF>GJEA=J=F  @3@AK;@9>>L2AKK=F




B#.5D(('06.+%*' +55'05 70& +.&70)52.#66(14/

G2.%2<<.7<>7-25->70<95*==/8;6K.;6O052,1=-2. .0.07>70?87%2<<.7<,1*/=>7-K//.7=52,14.2=27 .27.6 *>6487<=;>4=2?.;><.27*7-.;<.=C>7062= 7.>.6%2<<.7D

.0&+".+%,#".  <.#1+( &//"+/ %#0&)!1+$ "/"))/ %#0

=JO=DLO=ALN=J>e?:9J=2AKK=FKKL9F<OAJ<KA;@F9;@ .;@aLRMF?=FCeF>LA?9DD=>eF>%9@J=N=J<GHH=DF 2AK

K=FK;@9>LMF<!GJK;@MF?MFL=JDA=?=F9:=JFA;@LFMJ =AF=J?JGZ=F=K;@D=MFA?MF? .A=O=J<=F9M;@AEE=J KH=RA9DAKA=JL=J 0EKG?=>J9?L=JKAF<CGEH=L=FLN=JEAL

L=DL=$F>GJE9LAGF=F ?=KA;@=JL=K2AKK=FMF<=AF=F9;@

NGDDRA=@:9J=.A;@L9M>CGEHD=P=5MK9EE=F@aF?=  $F<A=K=E&GFL=PL@9L^K=AF=-GDD=9DKX2AKK=FK MF< AD<MF?KHD9LL>GJESF=M<=>AFA=JL $E(ALL=DHMFCLKL=

@=FAFFGN9LAN=5M?aF?=MF<!GJE=F<=J1=JEALLDMF?  <A=9M;@<9K5MKL9F<=CGEE=F <A=5MK9EE=F@aF?=  #AFL=J?JeF<=MF<MKOAJCMF?=F<=KF=M=F2AKK=FK L@=E9LAKA=J=F A=^2AKK=FK;@9>LK MF<AD<MF?K

K=F<MF?=F:JAF?=F2AKK=FK;@9>LMF<^>>=FLDA;@C=ALAF =AF"=KHJa;@ d>>F=F#dJ>=FKL=JRMF=M=F!GJK;@MF?K

=J?=:FAKK=FMF<N=JEALL=DF*JA=FLA=JMF?>eJ<A=2AK

K=FK?=K=DDK;@9>L .A=>MF?A=J=F9DK.=FKGJ>eJF=M= =FCKLJdEMF?=FMF<:A=L=F2=?O=AK=JRMF=M=F '=:=FK MF<2AKK=FK>GJE=F  A=NA=D:=K;@OGJ=F=.;EE7@E97E7>>E5:38F:=KL=@L F9;@OA=NGJO=FA?=J9MKX2AKK=F<=FS 9DK9MK*JA=F

LA=JMF?KM;@=F<=F(=FK;@=F A=(=<A=F>GJK;@MF? :=K;@=AFA?L<=F^2AKK=FK;@9>LK MF<AD<MF?KK=F

<MF?=F=AF=F:=KGF<=JK@G@=F.L=DD=FO=JL>eJ<A= H=JKdFDA;@=2=AL=J:AD<MF? A=)MLRMF?9DKGOFDG9<K AF?JGZ=J59@DAKL=AF$F<AC9LGJ>eJA@J=F9;@@9DLA?=1=J

O=F<MF? 1GJ9MKK=LRMF?<9>eJAKL <9KK<A=-=<9CLAGF KA;@K=D:KL9DKXD=JF=F<=K0FL=JF=@E=FSN=JKL=@L <9K FA;@LFMJ2AKK=FBGMJF9DAKLAK;@XN=JH9;CLS KGF<=JF 9M;@<A==A?=F=F'=JF=J>9@JMF?=F9DK/=AD=AF=JJ=>D=C

LA=JL=F2AKK=FKCMDLMJO=AL=J?A:L 

$F9:O=;@KDMF?KJ=A;@=F JRa@D>GJE=FO=J<=FX:9JJA=

J=>J=A=SAD<MF?K=JD=:FAKK=EAL<=EDDL9?MFK=J=J #dJ=J$FF=FN=JCFeH>L 9K=Ee@=FMEFK;@9MDA;@

C=ALMF<1=JKLaF<DA;@C=ALKGDDF=M=K2AKK=FEAL<=F XAD<MF?K:AG?J9>A=FS=AF=KEd?DA;@KL:J=AL=F?=K=DD

K;@9>LDA;@=F.H=CLJMEKN=J:AF<=FMF<<9:=A9M;@<A= X<A?AL9D=&DM>LSROAK;@=FN=JK;@A=<=F=F(=<A=F?=F=

J9LAGF=Fe:=J:Je;C=F  A=.;EE7@E G@6;>6G@9EB>3FF8AD?^=JEd?DA;@L<A= =?=?FMF?NGF2AKK=FK;@9>LMF<^>>=FLDA;@C=ALAF =AF=E-9MECGFKLJMCLAN=JMK=AF9F<=JK=LRMF?EAL F=M=E2AKK=F 9:=J9M;@EAL-AKACGMF<0FKA;@=J@=AL  <A=d>>=FLDA;@=JAKCMKKAGF:=<eJ>=F =J=FLJe;CL= X D>=F:=AFLMJESJ=HJaK=FLA=JLFA;@LE=@J<=F(ALL=D

HMFCL<=K9C9<=EAK;@=F'=:=FK #=ML=OAJ<2AKK=F

K;@9>L=@=J9M>=AF=EX(9JCLHD9LRSN=JGJL=L OG9M;@ HGDALAK;@= OAJLK;@9>LDA;@= ?=K=DDK;@9>LDA;@=MF<CMDLM

J=DD=$FL=J=KK=F9MK?=@9F<=DLO=J<=FEeKK=F  AFHJG

>MF<=KMF<J=>D=CLA=JL=K2AKK=FK;@9>LKN=JKLaF<FAKV 9DK5A=D<=J^2AKK=FK;@9>LKK=F<MF?=FVAKL=AF=A

LJ9?RMJHGDALAK;@=FAD<MF?<=J2AKK=FK?=K=DDK;@9>L  (AL5MCMF>LKKQEHGKA=F  FIM=L=F @G;@K;@MDHGDALA

K;@=F!GJ=F .;A=F;= N=FLK ;FK*5;7@57+3>=EMF< );E;=A6;3>A97@@9L<A=^2AKK=FK;@9>LKJ=<9CLAGF=AF :J=AL=K.H=CLJME9F1=J9FKL9DLMF?K>GJE=FMF<!GJE9

L=F=FLOA;C=DL =A9DD=F0FL=JK;@A=<=F<=J5M?aF?=  !GJE9L=MF<"=KL9DLMF?K>GJE=FOAJ<<9:=AB=F=NGF DA9K9F=LLA>GJEMDA=JL=(9PAE=AEE=JOA;@LA?=J X3E%;5:FI;EE7@63D83?.;EE7@@;5:FH7D3D?7@ _D <767@FIADF?GEE7;@7D3973G8EBD;@97@6;7HAD:7D 976G5=FE5:>;78 S

.0&+".+%,#". 


(=@J 9DK R=@F MFL=JK;@A=<DA;@= !GJE9L= :A=L=L <A= 2AKK=FK;@9>LK9:L=ADMF? NGF ^ A@J=E +M:DACME V =LO9  .=F<=KLMF<=F AE '9M> <=J 2G;@=  9K J=A;@LNGE)36;A=A>>79:AKRM?3FD;J NGE)36;A6A=FAD:AK"A@F7JF NGF<=F ;?7@E;A@7@:AKRME*3>L4GD97D%35:FEFG6;A  A= <J=A &MJR>GJE9L=7FD;88F 7E5:;5:F7  -A? #747@ 67D %3FGD MF< .;EE7@ 3=FG7>>=J?aFR=F<A=:J=AL?=>a;@=JL=+9D=LL= 

98>/B>

X)=OKQGM;9FMK=SA=.=F<MF?!J=AL9?   V  0@J:eF<=DL<A=MF

e:=JKA;@LDA;@=1A=D>9DL<=JF=M=JK;@=AF=F<=F.9;@:e;@=JVG>LRM:=KLAEEL=F .;@O=JHMFCL=FVMF<:A=L=LKG=AFAF^KL=JJ=A;@=AFE9DA?=K*JA=FLA=JMF?KK=J

NA;= AD<:aF<=MF<-=AK=>e@J=JO=J<=F=:=FKGNGJ?=KL=DDLOA=)=M=JK;@=A

FMF?=F9MK<=F=J=A;@=F'A>;F;=MF<.;DFE5:38F 

   = +55'0

+55'059'46'5+0B

'3==/8+5>?/66

"=:GL=F OAJ< NGF (GFL9? :AK !J=AL9?  V

 0@J /9?=K9CLM=DD=K 9MK ;>6G@9 .;EE7@E5:38FMF<ADE5:G@9 $EHJAD

O9J=F7@67D47IGEEF E7;@ MF< :3@57@9>7;5::7;F <A= "=F=J9DL@=E=F :=A <=F=F;A@EF397@ BA>;F; E5:7 ;>6G@9 "=K;@D=;@L=J?=J=;@L= JRA=@MF? AF 1GDCKK;@MD=F ?=F<=J:=

OMKKL=0FL=JJA;@LKEG<=DD==AF*FDAF= (9?9RAF>eJ!J9M=F(=FK;@=FJ=;@L= >eJKQDO=J:=JAFF=FMF<<9K.;@MDHJGB=CL7@67D?3@;3OMJ<=F<9:=AFa@=J :=KHJG;@=F 

"+.395966/1

A= EAFeLA?=.=F<MF?(GFL9?:AKGFF=JKL9?9:  0@J?DA=<=JLKA;@ AF<J=A/=AD= 9JAFKAF<9DD="=KL9DLMF?K>GJE=F <A=<9K-9<AG:A=L=L <=FC:9J MF< O=J<=F L@=E=FKH=RA>AK;@ ?=Oa@DL  =KLAEE=F<=K D=E=FL <=J .=F<=

J=A@=AKL=AF=JK=ALK'MKL9F<=J JC=FFLFAKRMK;@9>>=FMF<=FC9FKLdZ=RM DA=>=JF 9F<=J=JK=ALK5=ALMF<-9MERM:A=L=F MEEd?DA;@KLNA=D=/@=E=FAF A@J=J .H9FFO=AL= NGF $FL=DD=CL MF< EGLAGF9DALaL 9MKRMDGL=F  &9JAF '=@F=JK )36;A=A>>793:D7@67E-A>= ;77E5:;5:F767D<7@;E5:7@$;@67D:7;F=J@A=DL

<=F)36;ABD7;E67DDI35:E7@7@4;>6G@9 

37/8=398/8

$F<A=K=E2AKK=FK;@9>LKE9?9RAF(GFL9?:AK!J=AL9?  V 0@JKAF< 9DD=!GJE=FEd?DA;@ =J.;@O=JHMFCLDA=?L9M>=JA;@L GCME=FL9LAGF (9

?9RAFMF<!=9LMJ=RMJ=MLMF?=FNGF J=A?FAKK=F A=.=F<MF?=F#747@?;F 67?">;?3I3@67>NGE(9A

OMJ<=FEAL<=E">;?3E5:GFLBD7;E67D397> H7DE;5:7DG@9 9MK?=R=A;@F=L 

3/K38./<?83

E %9FM9J

ME  0@JKL9JL=L=AF^<A==JKL=!GD?=<=JF=M=F-=A@= X ";@67DG@; =J-=CLGJ<=J0FA2A=F "=GJ?2AF;CD=J KL=DDL=KA;@<=J!J9?= X"3@@ ?3@ ;>6G@9 =3G87@S MF< <AKCMLA=JL= EAL &AF<=JF <A= 0FL=JK;@A=<= ROAK;@=F $F>GJE9LAGF  2AKK=F MF< AD<MF? ";@67DG@;.;7@ .LM<A=J=F<= @9

:=F EAL ^ -=HGJL=J$FF=F <=F 2AKK=FK;@9>L=J$FF=F <=J";@67DG@;.;7@ 9M> <=F59@F?=>e@DLMF<'d;@=JAF<=F9M;@?=>J9?L  MK<=FFLOGJL=FMF<<=F!J9?=F<=J&AF<=J=FLKL9F<=F-9<AGK=F<MF?=F  <A= Od;@=FLDA;@ .GFFL9?    V  0@J AF ^ HJaK=FLA=JL O=J<=F  /@=

E=F:=J=A;@=OA=<=JG5:6DG5= <A=@FEF7:G@967D*A@@7 <=J,?93@9?;F $_>>G<=J<=JG843G67DF?G@9EAD93@7>9KRAFA=J=FK=AL@=JFA;@L:DGZ<9K BeF?=J=+M:DACMENGKF^ 




0#$*C0)+)'41740#.+5/75(E4'+0(4'+'5'6<

G7-.;<2,1<,17.55?.;N7-.;7-.7K485802. 38>;7*52<=2<,1.;>7-9*;*38>;7*52<=2<,1.; 70.+8=.26.=C@2.%.+580<>7-00;. 0*=8;.72<=>7-+5.2+=-2.>=>;.C87..27. <=*+25.>7-C>?.;5N<<20.>.55.-2.21;.7 O//.7=52,1;.,1=52,1.77/8;6*=287<>7- 25->70<*>/=;*0.;/P55=D

=+0". ( #101."6,+" 0

9K$FL=JF=LOMJ<=NGF0. 9E=JAC9FAK;@=FMF<=MJG

HaAK;@=F2AKK=FK;@9>L=J$FF=FCGFRAHA=JL ME>J=A=F MF<MFCGEHDARA=JL=F$F>GJE9LAGFK9MKL9MK;@RM ?=Oa@JD=AKL=FMF<<9<MJ;@=AF=KL9:AD=9KAK>eJ<=F !GJLK;@JALLAF<=EGCJ9LAK;@=F"=K=DDK;@9>L=FRM K;@9>>=F !eJ<A=-=<9CLAGF<=JGFGD7LA@7=J?aFRL KA;@<A=K=/J9<ALAGFNGJLJ=>>DA;@EAL<=EM>LJ9?<=K d>>=FLDA;@ J=;@LDA;@=F-MF<>MFCK <=KK=F.L9LMLA@J <A=FGLO=F<A?=F!J=A@=ALK?J9<=?A:L <A= FLOA;CDMF? <=K)=LR=KF9;@@9DLA?RM:=?D=AL=FMF<RM>dJ<=JF GFGD7LA@7 &) 3FAKL<=J$/ &9F9DNGF*-! 9L $E'9M> <=JN=J?9F?=F=FR=@F%9@J=@9LKA;@<A=GFGD7LA@7 =AF=F>=KL=F+D9LRMF<=AFCD9J<=>AFA=JL=K=A?=F=K +JG>AD9M><=E(9JCL<=J<=MLK;@KHJ9;@A?=F$/ =

JA;@L=JKL9LLMF?=J9J:=AL=L A=GFGD7LA@7 -=<9CL=M

J$FF=FKAF<<A=MKD9F<KCGJJ=KHGF<=FL$FF=F<=K*-! 9M><=E @8AD?3F;A@E=A@F;@7@F @F7D@7F .A=:=JA;@L=F e:=JF=M= FLOA;CDMF?=FAF(=<A=F MF<$F>GJE9LA

GFKL=;@FGDG?A=MF<NGJ9DD=E9M;@<9Je:=J O=D;@= MKOAJCMF?=F<A=K= FLOA;CDMF?=F9M>2AJLK;@9>L MF<"=K=DDK;@9>L@9:=F A=GFGD7LA@7K=LRL<9RM KL9JC9M>K=D:KLJ=;@=J;@A=JL=$F@9DL=  A=GFGD7LA@7OAJ<NGFA@J=J'=K=JK;@9>L9F<=F?JG

Z=F$/ +GJL9D=FAE<=MLK;@KHJ9;@A?=F-9ME?=E=K

K=F A=-=<9CLAGF<=JGFGD7LA@7:=?=?F=L<=EEAL =AF=JKH=RA>AK;@9M>^KL=JJ=A;@9MK?=JA;@L=L=F =JA;@L=JKL9LLMF? <A=FA;@LFMJ<A=OA;@LA?=F J=A?

FAKK=MF< FLOA;CDMF?=F9M><=E#=AE9LE9JCL



9:<=;CL KGF<=JF <=E"=?=FKL9F<<=J=JA;@L=JKL9L

LMF?=FLKHJ=;@=F< 9M;@<A=MKOAJCMF?=FAFL=JF9LA

GF9D=JAF>GJE9LAGFKHGDALAK;@=JMF< J=;@LDA;@=J FL

K;@=A<MF?=F9M>^KL=JJ=A;@9M>R=A?LMF<=AFGJ<F=L   :=JA;@L=L=<9K/=9E<=JGFGD7LA@7:=AKHA=DK

O=AK=9MK>e@JDA;@e:=J<A=MKOAJCMF?=F<=K)A3 ?;@9 '3=7FE<=J, "A??;EE;A@9M>2AJLK;@9>LMF< 1=J:J9M;@=J <A=)GN=DDA=JMF?<=K*;5:7D:7;FEBA>;L7; 97E7FL7E <A=&@>;@7 GD5:EG5:G@9NGFGEHML=JF N=J<a;@LA?=J+=JKGF=F <=F0E?9F?<=JdKL=JJ=A;@A

K;@=F FLK;@=A<MF?KLJa?=JEAL<=J );5:F>;@;7LGD -ADD3FE63F7@EB7;5:7DG@9MF<<=F.L9F<<=KMK:9MK <=JdKL=JJ=A;@AK;@=FD7;F43@6=A??G@;=3F;A@E@7FL7 AEDaF<DA;@=F-9ME  )9;@R=@F%9@J=F=J>GD?J=A;@=JBGMJF9DAKLAK;@=JJ:=AL AKL<A=GFGD7LA@7?MLAF<=J<=MLK;@KHJ9;@A?=F$F>G

KH@aJ==L9:DA=JL OA=9M;@R9@DJ=A;@=-=>=J=FR=FMF< 5AL9L=AF)9;@JA;@L=F9?=FLMJ=FMF<9MKDaF<AK;@=F (=<A=FR=A?=F $F<=JKA;@K;@F=DDN=JaF<=JF<=F^CG

DG?A=BGMJF9DAKLAK;@=JMF<H9J9 BGMJF9DAKLAK;@=JF?=

:GL=AE)=LROA=.74>A9EMF<99D793FAD7@AKLMF< :D=A:L<A=GFGD7LA@7=AF=KL9:AD=MF<RMN=JDaKKA?= ,M=DD= <A=A@J=F^887@F>;5: D75:F>;5:7@ @8AD?3F;A@E  G@6;>6G@9E3G8FD39=J>eDDL G@F=<9:=AD9F?O=ADA? G<=J:=D=@J=F<RMK=AF A=GFGD7LA@7N=J>e?Le:=J =AF=LJ=M='=K=JK;@9>LAE$F MF<MKD9F<MF<AKL<A= -=>=J=FRHM:DAC9LAGF>eJ$/ )9;@JA;@L=F9MKMF<>eJ ^KL=JJ=A;@

=+0". (


'3==/898638/

M> E5;7@57 &) 3F OMJ<=F

 FLOA;CDMF?=F  !GJK;@MF?K=J?=:FAKK= MF< FL<=;CMF?=FAE2AKK=FK;@9>LK:=J=A;@9MK &9L=?GJA=FHJaK=FLA=JL Oa@

J=F<KA;@8GFGD7LA@7 &) 3F)9;@JA;@L=F #AFL=J?JMF<:=JA;@L=FMF<F9DQK=F 9MK<=F>eJ0K=J$FF=F:=KGF<=JKAFL=J=KK9FL=F=J=A;@=F$F>GJE9LAGFK MF< &GEEMFAC9LAGFKL=;@FGDG?A=OA<E=L=  =-3/8-/"+>G ?,63-A+</8/==90#-3/8-/ A= &=JFJ=<9CLAGF <A=K=J *-! 2=:KAL= ?J=A>L NGJ 9DD=E 9M> *-! GFL=FL MF< ?=FLMJE=D<MF?=F 9:=J9M;@9M>!9;@R=ALK;@JA>L=FOA=%3FGD7 *5;7@57  %7I@9>3@6!AGD@3>A8$76;5;@7=L; RMJe;C ME<=F0K=J$FF=F=AF=FJ9K;@=F  IM9DA>ARA=JL=F _:=J:DA;C e:=J <A= OA;@LA?KL=F (=D<MF?=F 9MK 2AKK=FK;@9>L MF<!GJK;@MF?9F:A=L=FRMCdFF=F 5A=D<A=K=K+JGB=CLKAKL EAL=AF=J JO=A

L=JMF?<=KGFL=FL F?=:GLK<MJ;@RMKaLRDA;@=&9H9RALaL=F<A=AFFGN9LAN=F '=AKLMF?=FdKL=JJ=A;@AK;@=J!GJK;@MF?KLaJC=JRM:=LGF=F A=K=OMJ<=F:=

OMKKL 9M;@ AF 5MK9EE=F@9F? EAL <=J =MJGHaAK;@=F !GJK;@MF?KD9F<K;@9>L <9J?=KL=DDL 

   = +55'0

+55'05 '46'

=-3/8-/"+>G=5C9?<#-3/8>3=> PH=JL$FF=F9MK2AKK=FK;@9>LMF<!GJK;@MF?:=9FLOGJL=F9FO=F<MF?KGJA

=FLA=JL= 9:=J9M;@?JMF<KaLRDA;@=!J9?=F<=J0K=J$FF=FNGFE5;7@57 &) 3F  OG:=A H=JE9F=FL= 0H<9L=K <A= -=9CLAGF 9M> L9?=K9CLM=DD= !J9?=KL=DDMF?=F =JD9M:=F A=-=<9CLAGF<=J2=:KAL=O=AKLH=JAG<AK;@9M><A=K=KF?=:GL@AF MF<D=AL=L<A=F>J9?=F9FCGEH=L=FL=2AKK=FK;@9>L=J$FF=FO=AL=J A=FL

OGJL=FO=J<=FJ=<9CLAGF=DD:=9J:=AL=LMF<O=:9<aIM9L9M>:=J=AL=L M><A=K= 2=AK==FLKL=@L=AFJ=<9CLAGF=DDEG<=JA=JL=J$F>GJE9LAGFK +GGD

#+6D,?<1/<+-2>=>?.3938K

A=.=F<MF?:JAF?LOd;@=FLDA;@(ALLOG;@  

V

0@JGCME=FL9LA

GF=Fe:=J<A=X?JGZ=F/@=E=FS<=J5=AL9M><=J9KAK=AF=J@ME9FAKLAK;@=F L@AC (AL<=E;FK*5;7@57+3>=?=@L<9K*3>L4GD97D%35:FEFG6;A@AF9MKAF<A= 0FAN=JKALaLKKLa<L= <=J MF<=KDaF<=J MF< <AKCMLA=JL NGJ *JL  EAL #dJ=J$FF=F KGOA= 2AKK=FK;@9>L=J$FF=F 9MK <=E $F  MF< MKD9F<  =AF 9CLM=DD=K  ?=K=DD

K;@9>LKJ=D=N9FL=K/@=E9 

O9J=F<9KM 9 *5:?7DL'>39767E#747@E  $A4;>;F[F;?

!3:D:G@67DF -;7>83>FG@6 @F79D3F;A@  @F7>>;97@L8ADE5:G@9G@6 ;:D797E7>>E5:38F>;5:7767GFG@9

9<?76:,+-2

1GF :AK  M?MKL

>9F<=FAE-9@E=F<=KGDAB[;E5:7@ADG?> B35: <A= >B35:7D +75:@A>A9;797EBD[5:7 KL9LL  <A= Ba@JDA;@ NGF <=J-7D7;@; 9G@9 67D ^EF7DD7;5:;E5:7@ @6GEFD;7  <=F GEFD;3@ )7E73D5: 7@F7DE MF< X  GJ?9FKA=JLO=J<=F $FL=JF9LAGF9D= PH=JL$FF=F9MK2AKK=FK;@9>L 2AJLK;@9>L MF< +GDALAC <AKCMLA=JL=F AF +D=F9JN=J9FKL9DLMF?=F MF< J:=ALKCJ=AK=F e:=J <9K/@=E9?7D97@57;@*5;7@573@6+75:@A>A9K  0F< K>9F<=JKLE9DK<A=X ";@67DG@;>B35:KL9LL <A=&AF<=JAEDL=JROA

K;@=FKA=:=FMF<ROdD>%9@J=F<9RM=AFDM< <=EX2A=SMF<X29JMESNGF2AK

K=FK;@9>LMF</=;@FGDG?A=9M>MFL=J@9DLK9E=2=AK=F9;@RM?=@=F




0524E%*'+/+0&'4241)4#//

G%2;+.05.2=.727-.;->;,1-2.%.5=-.;%2<<.7<,1*/= >7-+.<=N;4.727217.7-2..>02.;>7--2.><=*6 7=-.,4.7>7-8;<,1.7D

%,*/."6&+  &+!".-.,$.**"

FL<=;C=FMF<'=JF=FEAL#AJF #=JRMF<#9F<AKL MFK=J(GLLG 2AJ>e@J=FAFB=<=J.=F<MF?NA=J:AK>eF>1=JKM;@=NGJ  <A=&AF<=J<9@=AEEAL=AF>9;@=F(ALL=DFF9;@E9;@=F CdFF=F  9:=AD=?=FOAJ?JGZ=F2=JL9M>.A;@=J@=ALMF<(9;@

:9JC=AL A=1GJ:=J=ALMF?KH@9K=>eJR=@F!GD?=F!AD E5:7D7JBD7EE<9M=JLE=@J=J=2G;@=F 2AJL=KL=F9DD= 9KF=M=&) ";@67DBDA9D3??K=LRL=KKA;@RMJM>?9 Ed?DA;@=F1=JKM;@=<MJ;@ GHLAEA=J=F<A=)9;@E9;@

:= &AF<=J>eJ<A=2=DLMF<9DD=K O9KKA=RM:A=L=F@9L  :9JC=AL ?=@=FKA;@=J <9KK=KRMC=AF=F FLLaMK;@MF

?=FCGEEL ǯ]XEHJHLVWHUQ ǯ]XEHVW¦UNHQXQG A=.=F<MF?OAJ<NGF!9;@D=ML=F9MK9DD=F=J=A;@=F ǯGXUFKLKUHHUVWHQ/HEHQVMDKUH]XEHJOHLWHQ <=J)9LMJOAKK=FK;@9>L=F:=J9L=F9DD=J=@:e;@=J O=J<=FNGFA@F=F?=D=K=F P=EHD9JAK;@<9>eJKL=@L<A=.=F<MF?ADE5:7D "=<J=@LOAJ<AF/A=JH9JCKMF<2AD<H9JCKAF^KL=JJ=A;@  7JBD7EE 2AJ=J>GJK;@=F&DaJ9FD9?=F?=F9MKGOA=(MK==FMF< (AL<=J.=F<MF?!GJK;@=J=PHJ=KK <A=K=AL>eF>%9@J=F .;@DdKK=J AE&) ";@67DBDA9D3??9MK?=KLJ9@DLOAJ< @9:=FOAJ "JdZL=M>E=JCK9EC=ALOAJ<<=JGHLAK;@=F,M9DALaL MF<<=E'GGC<=J.=F<MF??=OA<E=L <9EAL<A=!GD

<A=#=J9MK>GJ<=JMF?9F?=FGEE=F &AF<=JFRM/@=

?=F@G@=-=H=JLGAJ=>a@A?C=AL:=KALR=FMF<NA=D=%9@J= E=F9MK:7?;7 ':KE;= ;A>A9;7 7E5:;5:F7MF< D9F?9MK?=KLJ9@DLO=J<=FCdFF=F 7A9D38;75M?9F?RMN=JK;@9>>=F "JMF<KaLR=O9J=FNGFF>9F?9F ǯ(VPXVVEHLMHGHP7KHPDHLQH9HUELQGXQJ]XP '=:=FMF<RMJ2=DL<=J&AF<=J?=:=F  ǯ1LHPDOVEHOHKUHQZLU.LQGHUHVPXVVXQVLPPHU ?=DAF?=F KA=>eJ<9K/@=E9RM:=?=AKL=JF  ǯ)UHPGZ¸UWHUXQGXQYHUVW¦QGOLFKH)DFKEHJULIIHVLQG FA;@L=JD9M:L A=.HJ9;@=EMKKCD9JMF<N=JKLaF<DA;@ K=AF  ǯ*U¸¡HQXQG0HQJHQDQJDEHQZHUGHQLPPHULQ9HU

?D=A;@=F?=:J9;@L MEKA=NGJKL=DD:9JRME9;@=F  ǯ:LUEHJOHLWHQ.LQGHUGXUFKGLH:HOWGHU:LVVHQVFKDIW MF<:=KLaJC=FAFA@F=F<A=)=M?A=JMF<<A='MKL9E FL<=;C=FMF<!GJK;@=F



=JADE5:7D7JBD7EE@9LNA=D=9<=RAEE=JMF<&e;@=F dKL=JJ=A;@AK;@=J!9EADA=FAF'9:GJKMF<2=JCKLaLL=F N=JO9F<=DL A= DL=JFE9;@=F:=?=AKL=JLEAL A=.=F

<MF?@9L=AF==FGJE=59@D9F=JO9;@K=F=F5MK=@=J$F

F=F 2A='=@J=J$FF=FAEE=JOA=<=JK;@J=A:=F @GD=F KA=KA;@?=JF=$<==F>eJ<=F0FL=JJA;@L (ALLD=JO=AD=OAJ<<=JADE5:7D7JBD7EE9M;@AF=MLK;@

D9F<9M>)$&9MK?=KLJ9@DL AF2=KL MJGH99M>-/ AF *KL MJGH99M>1$)$' -)$)"MF<AE9J9:AK;@=F -9ME9M>'%5 -&$. A=.=F<MF?ADE5:7D7JBD7EEAKL<=JF>9F?=AF=J -=A@=O=AL=J=J&) ";@67DE7@6G@97@ <A=9M;@9F<=J= /@=E=FOA="D73F;H;F[FG@6"G@EFG<=J97EG@67E#747@ &AF<=JFFa@=J:JAF?=FO=J<=F 

%,*/."6&+


A@87FF;O9J

=AF=HJa?=F<=+JG?J9EEE9JC=AE*-! &AF<=J /1 $F%7IE AE-9@E=FNGFA@87FF;+;-;KA=@=.=AL= G<=JAF1;D=GEG?A@87FF;KL9F<=F $F>GJE9LAGF=FRM.9;@L@=E=F>eJ<A=BeF?KL=F5MK=@=J$FF=FAE(ALL=DHMFCL 'dKMF?K9FKaLR= >eJ 9M>?=OGJ>=F= +JG:D=E= OMJ<=F EAL PH=JL$FF=F <AKCM

LA=JLMF<KGRA9D=K'=JF=FN=JEALL=DL 2=AL=JK+:7?7@E5:I7DBG@=F";@67DQ+)W,$ #% 1,",%+ AE*CLG

:=J

EALR  ";66KA@F7EFMF<7?A=D3F;7I7D=EF3FFKA=@=.=AL= KGOA=<=JCLAGF";@67DD767@?;FKA=@=.=AL= 

383@/<=?7

.H=RA=DD>eJ<A=BeF?=J=F5MK=@=J$FF=F@9L<=J*-!=AF==A?=F=)9LMJ>ADEJ=A

@==L9:DA=JL$;@;H7DEG?.9EKL9? 

0@J *-! #A=JHJaK=FLA=J=F<A= :=A<=F(G<=J9LGJ=FJ #=DEML+=;@D9F=JMF<@JAKLAF9&9JFA;FACOd;@=FL

DA;@2AKK=FKO=JL=K9MK<=J>9KRAFA=J=F<=F/A=JO=DL )=:=F<=E.;@9M MF< .L9MFO=JL KL=@L F9LeJDA;@ 9M;@ <A= .=FKA:ADAKA=JMF? >eJ /A=J  MF< 0EO=DL

K;@MLR9M><=E+JG?J9EEKGOA=FeLRDA;@=/AHHK>eJ<A=#9MKLA=J=<=KBMF?=F +M:DACMEK

   = +55'0

#5(E4&+'+0&'4 +55'05%*#((6

"?.3G"+.390S<38./<

^OADDK=AF+M:DACMENGFEGJ?=F <A=&AF<=JROAK;@=F9;@LMF<=D>%9@J=F  9CMKLAK;@9:@GD=FMF< A@E =AF=F .LeLRHMFCL <MJ;@=AF==A?=F=.=F<=J=A@= :A=L=F 9KH9KKA=JLNGF(GFL9?:AK!J=AL9? V 0@JAF!GJE=AF=K #dJ JD=:FAKK=K <9K9DD=KHJ9;@DA;@=F D=E=FL==FL@aDLOA=#;F7D3FGD .;EE7@ E5:38F ^DEB;7> $GE;= 73FGD7=L; MF<<9KRM<=E>eJ9DD=#dJ=J$FF=F?==A?

F=L 9:=JKH=RA=DD9F&AF<=J?=JA;@L=LAKL

S.7@@+-8_D";@67DEAI3EI;7*5:G>7A67D7;@=>G97EG5:E7;@EA>>EA;EF63E7FDG93?";@6 3EF[F7?3@ @;78_DDI35:E7@7 7EF3>F7@I;D7;@7@E;5:7D7@9>_5=>;5:7@&DFIAE;797D@7E7;@IA>>7@ ;@&DFHA@67? E;7I;EE7@63EE7D;:@7@97:^DF %3F_D>;5:>7D@7@E;73G5:I3E347DI;D>3@9I7;>7@E;76347;@;5:F .;D67@=7@ ;??7D3@6;7";@67D6;7@;7;@3>7D;7@=A??7@A67D;@67@'3D=A67D67@7@@;7HAD97>7E7@I;D6 ";@67D6;7 3>>7;@E;@6HAD67?7D@E7:7DG@6@;5:FEAH;7>>_5=D^:>;5:=7;FG@674AD97@:7;F=7@@7@

*F7:;??7D3G867D*7;F767D";@67D N

++",,!)+$';%.&$""&0".&+!"/ &+!".-.,$.**/

/?=/3>/<,=>

*3G9GF -A>>*F3D= >>7E&=;6A=; D766KG@66;7I;>67@"[87D +A?+GD4A7F7=F;H5>G4 *7DHGE"3EB7D> ... Q<9KAKL&=;6A=; <9KF=M=&) ";@67DBDA9D3?? ;@LF=M==A?=FHJG<MRA=JL=!GJE9L= <9KNAGD=LL=2AD<

K;@O=AFD3@L7D6;@3@69DKF=M=K(9KCGLL;@=F NA=D=9M>J=?=F<="=K;@A;@L=F :=FL=M=JMF<B=<=(=F?= #MEGJ=JO9JL=F<A=BMF?=F5MK;@9M=J$FF=FK=AL .=HL=E:=J

La?DA;@AF*-!




=.<:)/   

 

 

 

  

-1;<=6/ 

 

 

 

 

 

#AD>=>eJ)GLD=A<=F<=  M>E=JCK9EC=AL>eJ.;@O9;@=  .GDA<9JALaL $FALA9LAN=F &9EH9?F=F 0FL=J

KLeLRMF?>eJ:=@AF<=JL=(=FK;@=F MF<KGRA9D=F9;@L=ADA?L=

-0:?-:< %!#&!#$D  ;7B1)4=6,>-:*16,41+0

G2.K//.7=52,1 .,1=52,1.7<27->7-+5.2+.7.27>7?.;C2,1=+*;.;*4=8;-.;/;.2.7 27-2?2->.55.7>7-0.<.55<,1*/=52,1.7%255.7<+25->70%2;1*5=.7-2..<.55<,1*/= C><*66.7>7--*<2<=0>=27.27.;&.2=27-.;-*<.7<,152,1.8/=?2.5C>4>;C 4866=D "186*<;>+.;7=.7-*7=-.<*B.;2<,1.7 >7-/>74<




^>>=FLDA;@ J=;@LDA;@=J-MF<>MFCN=J:AF<=L<A=(=FK;@=F  (9;@L9M>E=JCK9E O=FF#AD>=FGLO=F<A?AKL 2=FF<9K 29KK=JVFA;@LFMJKHJA;@OdJLDA;@V:AKRME#9DKKL=@L  2=FFC=AFMKO=?E=@JEd?DA;@K;@=AFL 2=FF<A=*@F

E9;@L?JGZMF<<A=(d?DA;@C=AL=F?=JAF?KAF<  0FK=J F?9?=E=FL#AD>=>eJ(=FK;@=FAF)GL M>E=JC

K9EC=ALMF<0FL=JKLeLRMF?>eJ(=FK;@=FEAL=@AF<=

JMF? .GRA9D=1=J9FLOGJLMF? <A=E9FK=@=FMF<KHeJ=F C9FFCGFCJ=LMF<OAJCMF?KNGDD 

:)3<1;+0-:=<B-6 

AF#AD>KO=JL>eJ.;@O9;@=MF<=F9;@L=ADA?L=




7/#0+6#4+#0 41#&%#56+0) #.57#.+6C65/'4-/#.

I3/5>3@3>N>/8@98?7+83>+<3+8<9+.-+=>381=38.?= .<?-5./<&/<+8>A9<>?81.3//38 ?,63-<9+.-+=>/<D? S,/<8/27/82+>E

<.$1*&+(  1*+&0.&+.,! /0&+$

#;5:F ;@E G@=7>  %35:43D ;@ %AF  A5:I3EE7D:;>87  +73?XEF7DD7;5: )3F3G8D3:F >F7D@F7>78A@ .GRA9D

C9EH9?F=FMF<.H=F<=F9M>JM>=>eJ#AD>KGJ?9FAK9LAG

F=F 0FL=JLAL=DMF?>eJ"=@dJ:=@AF<=JL= #dJ>ADE=>eJ .=@:=@AF<=JL= <=JD7;@75=7DBD7;E8_D1;H;>5AGD397 MF<%M?=F<K;@MLR =J*-!=J:JAF?LK=AL%9@J=F>J=AOAD

DA?MF<G@F=d>>=FLDA;@=FJM;C=AF=1A=DR9@DMF<1A=D

>9DL9FKGRA9D=F'=AKLMF?=F <A=RMEAF<=KLAF<=J=MJG

HaAK;@=F(=<A=FD9F<K;@9>L=AFE9DA?KAF< G?3@;F3 D;3@DA3653EF;@9AKLRM=AF=JMFN=JRA;@L:9J=F.=JNA;=

=AFJA;@LMF?<=K*-!?=OGJ<=F <A=<A=KGRA9D=FCLANA

LaL=F<=K#9MK=K:eF<=DLMF<CGGJ<AFA=JL  G?3@;F3D;3@DA3653EF;@9N=JKL=@LKA;@9DK&GEH=

L=FRR=FLJMEAF9DD=F!J9?=FMF</@=E=F <A=AE5MK9E

E=F@9F?EALCdJH=JDA;@ ?=AKLA?MF< G<=JAFKGRA9D= )GL?=J9L=F=F(ALE=FK;@=FKL=@=F $E0E?9F?EAL <A=K=F/@=E=FAKL=KM>?9:=NGFG?3@;F3D;3@DA36 53EF;@9  K=JNA;A=J=F< EALRMOAJC=F MF< =AF OAJCDA;@

C=ALK?=LJ=M=K MF< R=AL?=EaZ=K AD< RM HJGBARA=J=F  .GRA9D=K F?9?=E=FL:=<=ML=L>eJ<=F*-!<9@=JFA;@L FMJ!MF<J9AKAF?KGF<=JFAKL9M;@=AF=BGMJF9DAKLAK;@= M>?9:= G?3@;F3D;3@DA3653EF;@9@aDL<9@=J&GF

L9CLRM<=F=AFK;@Da?A?=F*J?9FAK9LAGF=FMF<KL=DDL KA;@9M;@CJALAK;@=FAKCMKKAGF=FEAL<=E5A=D =AF=F A9DG?9M>RM:9M=F  =JNGF*-! &MF<$FF=FAEE=JOA=<=J:=OA=K=F=KGRA

9D=5MK9EE=F@9DL:=AC9JAL9LAN=FFDA=?=F<A=FLB=<G;@ FA;@L<9RM :M<?=LaJ=1=JH>DA;@LMF?=F<=Jd>>=FLDA;@=F #9F<RMe:=JF=@E=F .H=F<=FKAF<<A=XMLL=J9M>K JGLS  ME AF<ANA<M=DD= .G>GJL@AD>= MF< +JGB=CL= RM =JEd?DA;@=F <A=e:=J<=F>AF9FRA=DD=F-9@E=FNGF AFR=DH=JKGF=FMF<*J?9FAK9LAGF=F@AF9MK?=@=F  

A=NGF^AFALAA=JL=CLAGF+73?XEF7DD7;5:R=A?L<A= =J>J=MDA;@@G@==J=ALK;@9>L<=J^KL=JJ=A;@=J$FF=FAE !9DD=NGFF9LAGF9D=F&9L9KLJGH@=FFA;@LFMJ"=D<KGF

<=JF9M;@5=ALRMKH=F<=FMF<XK=D:KLEAL9FRMH9

;C=FS =J=AFE9DHJG%9@JN=JDA=@=F=D7;@75=7DBD7;E 8_D1;H;>5AGD397@9LKA;@RMJM>?9:=?=KL=DDL (=F

K;@=FEAL1GJ:AD<OAJCMF?9MKRMR=A;@F=FMF<<9EAL<A= RANAD=eJ?=J?=K=DDK;@9>LRMKLaJC=F  (9JC=FOA=#;5:F;@EG@=7> %35:43D;@%AFG<=J<A= =J9LMF?K=AFJA;@LMF?MF<)GLJM>FMEE=J>eJ&AF<=J  MF<%M?=F<DA;@= Q)3F3G8D3:F:=KALR=FAF<=J dKL=JJ=A;@AK;@=F=NdDC=JMF?9:KGDML=K1=JLJ9M=FMF< =AF=F=C9FFL@=ALK?J9<NGFE=@J9DKF=MFRA?+JGR=FL  0E DL=JFMF<=RM?KH=JKGF=FAF JRA=@MF?K>J9?=FRM :=J9L=FMF<RMKLeLR=F OMJ<=<A=L=D=>GFAK;@==J9

LMF?K=AFJA;@LMF?>F7D@F7>78A@=AF?=JA;@L=L A=(9Z

F9@E=FMF<K=D:KL9M>=JD=?L=F-=?MD9LAN=AE-9@E=F <=KE=<A9D=F%M?=F<K;@MLR=KKAF<>eJ9DD=*-! (=<A=F

9M>LJALL=?eDLA? J=A;@=Fe:=J<A=NGE"=K=LR?=:=JN=J

D9F?L=F)GJE=FMF<<A=NGJ?=?=:=F=F 0 -A;@LDAFA=F @AF9MKMF<KGDD=F<A=(=<A=FCGEH=L=FR9DD=JDL=JK

?JMHH=FKLaJC=F  )=:=F<=FAF^KL=JJ=A;@DA=?=F<=F&=JF9M>?9:=F=F?9

?A=JLKA;@%35:43D;@%AF9MZ=J@9D:<=JdKL=JJ=A;@A

K;@=F"J=FR=F A=:==AF<JM;C=F<=.H=F<=F:=J=AL

K;@9>L>eJ<A=?JGZ=F@ME9FALaJ=F&9L9KLJGH@=F<=J D=LR=F%9@J=AF9J>MJ +9CAKL9FMF<AF<=FNGE/KMF9

EA:=LJG>>=F=F'aF<=JFAF.e<GKL9KA=F:=O=AKL<9K 1=JKLaF<FAK<9>eJ <9KK<9K2GJLX)9;@:9JS9M;@AE ?DG:9D=F.AFFN=JKL9F<=FOAJ<  A=CLANALaL=FNGFG?3@;F3D;3@DA3653EF;@9KAF< MK<JM;C<=J1=J9FLOGJLMF? <A==AF+M:DA;JG9<;9K

L=JRMe:=JF=@E=F@9L .A=KAF<&MF<=F<A=FKL KA=<A=

F=F<=J-=HML9LAGF<=K#9MK=KMF<KAF<FA;@LRMD=LRL 9M;@/=AD<=J"=:e@J=FD=?ALAE9LAGF

<.$1*&+(


1+0<16;=63-4

A= ;CH>=AD=J<=JE=<A9D=F#AD>=:AD<=L=F

OA=<=J<A=RO=A?JGZ=F!=JF

K=@=N=FLK <=J#;5:F ;@E G@=7> =F=>AR9:=F< EAL 9J:9J9 .Ld;CD  EF 63 <7 ?3@6 9E )GN=E:=J 0@J *-! MF<<A=.=F<MF?9E  =R=E

:=J 9K.H=F<=F=J?=:FAK<=J#;5:F;@EG@=7> &9EH9?F=



:=LJM? AFK?=K9EL (AG  MJG

G &=6,-:<K<-

A=CLAGFX .G@67DF_F7=F<=L=AE(aJR

EAL=AF=J:=9;@LDA;@=FAD9FR 

2MF<=JLeL=FOMJ<=F:=A<=J^ CLAGF>eJ#;5:F;@EG@=7>9:?=?=

:=F  X;7 X .G@67DF_F7 H7DI3@67>F 3>F7 3@6KE ;@ 7;@7 I7DFHA>>7 *B7@67 8_D";@67D;@%AF;@XEF7DD7;5:S0FL=J<A=K=E.DG?9FJA=>^ F>9F?=R=E

:=J

?9FR^KL=JJ=A;@9M> 9DL=#9F<QKMEO=DL?=J=;@LRM=FLKGJ?=FMF< ?D=A;@R=ALA?<9EALRMKH=F<=F =JKL9JC=-e;CD9M>9FX .G@67DF_F7@E9;@

L==AF=.H=F<=FKMEE=NGFE=@J9DK

 MJGEd?DA;@

G #-)5G;<-::-1+0

9K ;FD36;A X  MF< <9K )AF7 "D7GL @9:=F 9E   M?MKL

 AE &9L9KL

JGH@=F@AD>=R=FLJME<=KXEF7DD7;5:;E5:7@)AF7@"D7GL7E=AF=?JGZ9F?=D=?L= 'G4>;5 -3>G7 CLAGF EAL <=E /AL=D+73? XEF7DD7;5: ?=KL9JL=L  (AL <=J 0FL=J

KLeLRMF?<=K?=K9EL=F*-!O=J<=F(=FK;@=F?=KM;@L <A=:=J=ALKAF< 9FRM

H9;C=FMF<9DK+73?XEF7DD7;5:RM@=D>=F 2=FFAE!=JFK=@=F<A=AD<=JNGF )9LMJC9L9KLJGH@=F RM K=@=F KAF< MF< <9K -9<AG AF .GF<=J>GJE9L=F <MJ;@

?=@=F< <9Je:=J :=JA;@L=L  <9FF =FLKL=@L KL=LK =AF=K =AF= e:=JOaDLA?=F<= =J=ALK;@9>L KG>GJLRM@=D>=FVFA;@LFMJEAL"=D< KGF<=JF9M;@EAL<=F =A?=F=F#aF<=F G;@9FO=FO=F<=LE9FKA;@AFKG=AF=E!9DD2=JK9?L =AF=E OGE9FOA=NGF?JGZ=E)MLR=FK=AFC9FFA=K=NGJ@9F<=F=#AD>K

:=J=ALK;@9>LOAJ<K=AL@=JAE+73?XEF7DD7;5:C9F9DAKA=JL =J=ALKCMJRF9;@ FCeF<A?MF? <=J CLAGF CGFFL= ;FD36;A X  e:=J 

 !J=AOADDA?= 9DK Ed?DA;@=#=D>=JJ=?AKLJA=J=F

   ='4#06914670)

+'*7/#0+6C4'00+6+#6+8'0&'5

 +2</+-2,+<389>

E (9A

>=A=JL%35:43D;@%AFK=AF=F %9@J=KL9? =J)9E=AKLRME.QFGFQE>eJJ9K;@= MF:eJG

CJ9LAK;@=MF<=RA=FL=#AD>=9MK^KL=JJ=A;@?=OGJ<=F 2=DLO=AL@9:=F<=J*-!VMF<EALA@E9M;@<A=dKL=J

J=A;@AK;@=F#AD>KGJ?9FAK9LAGF=F +9JLF=J$FF=F9MK2AJLK;@9>L (=<A=FMF<B=<= J=AFR=DF=.H=F<=J$FV<9RM :=A?=LJ9?=F (=FK;@=FAF&JAK=FJ=?AGF=F<9K_:=JD=:=FRMKA;@=JF <A=2A=<=J=JD9F?MF?A@J=J'=:=FK?JMF<

D9?=FRM=JD=A;@L=JFMF<<MJ;@2A=<=J9M>:9M9M;@F9;@@9DLA?RMN=J:=KK=JF %35:43D;@%AFAKL=AF:==AF<JM

;C=F<=K5=A;@=FdKL=JJ=A;@AK;@=J.GDA<9JALaL?=OGJ<=F  (AG  MJGOMJ<=FAF^KL=JJ=A;@AFF=J@9D:NGF %9@J=F>eJ<A=!De;@LDAF?=MF<1=JLJA=:=FAF P %M?GKD9OA=F?=KH=F<=L

1.-)44 %1;176=6,1;;176,-:!1;<E41>-C,)*-1

=J#;873>>V MJGH9K?JdZL=KA<K @9JALQ N=FLV>AF<=LBa@JDA;@K=AL  AE2A=F=J-9L@9MKMF<K=AL

9M;@9E-9L@9MKHD9LRKL9LL 9K*J?9FAK9LA

GFKL=9E@9L=KKA;@NGJ<JAF?DA;@RMJM>?9:=?=E9;@L Ed?DA;@KL?JGZ=>AF9F

RA=DD=.MEE=FRMDMCJA=J=F <A=B=O=ADKRMJ#aD>L=F9LAGF9D=F#AD>KHJGB=CL=F MF<Ve:=J&GGH=J9LAGF=FEALAFL=JF9LAGF9D=F*J?9FAK9LAGF=FOA=<=J?7 D;53@AG@63F;A@8AD;6E)7E73D5:3?8)V(=FK;@=FAF<=F9EKLaJCKL=F :=LJG>>=F=F"=:A=L=F<=J2=DLRM?ML=CGEE=F =J*-!e:=JLJa?LK=AL

 <=F#;873>>AE-9@E=F=AF=K/@=E=F9:=F<KDAN=AE#9MHL9:=F<HJG?J9EE  9<MJ;@HJaK=FLA=JL<=J*-!FA;@LFMJ<9KK;@ADD=JF<KL=.G;A=LQ=N=FL<=K%9@

J=K =JLJa?L9M;@RMJ=OMKKLK=AFK:AD<MF?MF<RM:J=AL=J=JCR=HL9FR:=A  


'405'*'0(E4#..'

G;8C.7=#7=.;=2=.5/P;K<=.;;.2,1<.1O;58<. E.27.!.7<*=287D

++"/;.(  <."%&+!".0"+/".2& "

JAFF=JF.A=KA;@FG;@9F<=F .=HL=E:=J 9K O9JB=F=J.GFFL9? 9F<=E<A=.;7@7DGEFD;3/9:=D

D=F>e@J=JOMJ<= F9;@<=E)3B;6?=?=F*FGD?N=JDGJ=F @9LL= *:=JdKL=JJ=A;@K&MDLMJ:GLK;@9>L=J#M:=JLNGF "GAK=JF:==F<=L=K=AF=A@3G &EF +AGD &9FRD=J "MK=F:9M=JO9JRM"9KLAF$KJ9=DMF<A;@K;@DA=>RA=E

DA;@D9F?= O=ADA;@9E/9?<9NGJE=AF=F"=:MJLKL9? ?=>=A=JL@9LL=  =J=A?=FLDA;@="JMF<<9>eJ <9KKA;@<=F .=HL=E

:=J FA=E=@JN=J?=KK=FO=J<= AKL9:=J=AF?9FR 9F<=J=J  =J-=A@=F9;@ M><=E2=?RM<=F.GFFL9?KR=ALMF

?=FJ=A;@=JL=A;@<=F"D9K;GFL9AF=JEAL<=F?=D==JL=F 5=M?=F<=K"=:MJLKL9?K>=KL=K9F MF<<9FF<9KX&) 7@6>;5:83EF43DD;7D78D7;Q

'DAL7@F,@F7DF;F7>8_D XEF7DD7;5:E7:^D>AE7SKL9F<K=@J=PCDMKAN9M><=E /AL=D:D9LL=AF=JK=@JdKL=JJ=A;@AK;@=F/9?=KR=ALMF?ME FMJ  9K!Je@KLe;CMF<E=AF=!J9MCGFFL=F O9JL=F A=0FL=JLAL=DMF? E=AF'=:=FKO=JC e:=J )9;@LNGF9M> +JGR=FLV=AF=.=FK9LAGFM> <=F5=ALMF?KK=AL=FNA=JMF<>eF>KL9F< O=E<A=JMF<  ?=@dJDGK=FMF<KL9JCK;@O=J@dJA?=F(=F

K;@=F<A=K=K'9F<=K<9K2MF<=JRMN=J<9FC=F@9LL=F  KO9J=FNA=D= &) 7@7D3>6;D7=FADJ D=P9F<=J2J9:=LRX.7D I7@@@;5:F67D^887@F>;5: D75:F>;5:7&)EA>>E;5:<7@7D 7H^>=7DG@9E9DGBB7@3@@7:?7@6;7HA@67D7D@E7: ;@8AD?3F;A@G@6 G@F7D:3>FG@993@LA67DF7;>I7;E73GE 97E5:>AEE7@E;@6,@6;5:H7DEBD75:7

'DAL7@F ,@F7DF;F7>E;@6@A5:@;5:F3>>7E >E@[5:EF7E7DI7;F7D@ I;D63E@974AF8_D6;7974[D67@EBD35:AD;7@F;7DF7@ $7@E5:7@G@67EI;D6?7:D^D8;>?78_D6;74>;@67@ G@6EF3D=E7:47:;@67DF7@$7@E5:7@9747@ !7FLFIA G@E6;7)79;7DG@97@6>;5:63E7>6LGD_5=9;4F63E 

G@E6GD5:6;774_:D7@478D7;G@97@7@F93@97@;EF =^@@7@I;DG@E63E>7;EF7@ S=J@=><=K'G4>;=G?E D3FE "=GJ?2=AZE9FF K9?L=X 5:8D7G7?;5:63EED  .D347FLG@E7D7DAD67DG@9EAD3E5:@35:97=A??7@ ;EFG@64763@=7?;5:93@L47EA@67DE8_D63E:3D?A@; E5:7G@6E35:>;5:77EBD[5:E=>;?347;3>>7@G@E7D7@ -7D:3@6>G@97@ SX-' 7:;@67DF7@EBD75:7D)9LAGF9D

J9LJ !J9FR %GK=>#M9AFA?? <=J<=E*-!?=?=Fe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a@J=F< A;@FG;@e:=JD=?L= G:A;@EA;@<9Je:=JaJ?=JFKGDDL=  OMJ<=A;@O9;@ (=AF=!J9M@9LL=AFROAK;@=F<A= .GFFL9?KR=ALMF?=F?=@GDL  AF=K=@JdKL=JJ=A;@AK;@= /9?=KR=ALMF?LAL=DL=K=@J=PCDMKANX*FDA?D;787'3D =7@*7;F97EF7D@;EF63E#747@F7GD7DQ 'DAL7@F ?7:D8_D67@"GDLB3D=E5:7;@S@9 E:=F<:=JA;@

L=L=<9FF<A=17;F;?;>6ME  0@JMFL=J9F<=J=E e:=J<9K&GFR=JL<=K#M:=JLNGF"GAK=JFVEAL/ '

/ 3/ 0FL=JLAL=DF 1GF<=J"=K;@A;@L=e:=J"MK=F:9M

=JK$KJ9=D =KM;@AF<=J1;ME 0@J@9LL=F<A= #dJ:=@AF<=JL=FJ=D9LANO=FA? A=.=F<MF?O9JFA;@L MFL=JLAL=DL :=J<9KOAJ<K;@GF 

++"/;.( _:JA?=FKE .=HL=E:=J OMJ<=F9M>*-! MF<*-!AFK?=K9EL.=F<MF?=FEAL/ ' / 3/ 0F

L=JLAL=DF9MK?=KLJ9@DL 9KO9J=FCF9HH.LMF<=F !=JFK=@=FRME(ALD=K=F&AF<=JK=JA=F (9?9RAF=  .HA=D>ADE=MF<$F>GJE9LAGFKK=F<MF?=FV=AF,M=J

K;@FALL<MJ;@<9K*-! +JG?J9EE 


/=/8=>+>>2R</8G.+="#/<@3-/0S<R<,/238./<>/

+JG(GF9L:A=L=L<=J*-!<=JR=ALAE.;@FALL  .LMF<=F!=JFK=@=FEAL0FL=J

LAL=DFV)9;@JA;@L=F=:=FKGOA=(9?9RAF= .=JA=F !ADE=MF<GCME=FL9LAG

F=F +JG(GF9LCGEE=F>eF>:AKK=;@KF=MHJG<MRA=JL=.HA=D>ADE=MF<E=@

J=J=GCME=FL9LAGF=F@AFRM 5MKaLRDA;@:A=L=L<9K(9?9RAF#7E7@EF3FF^D7@ 9M><=F+#+/+ .=AL=F :AK #dJ:=@AF<=JL=F$F>GJE9LAGF=Fe:=J<A= CLANALaL=F<=J1=J=AF=AF?9FR^KL=JJ=A;@ =J9LMF?KL=JEAF= <J=KK=FNGF $FKLALMLAGF=F MF< *J?9FAK9LAGF=F  <A= #AD>= 9F:A=L=F  KGOA= KH=RA=DD= )9;@

JA;@L=F>eJ<A=5A=D?JMHH= 9KF?=:GL<=K*-!>eJ<A=AF^KL=JJ=A;@D=:=F<=F?=@dJDGK=FMF<@dJ:=@AF

<=JL=F(=FK;@=FOMJ<=AE%9@J

<=MLDA;@9MK?=:9ML M><=J+#+/+

.=AL=OMJ<=FAFK?=K9EL .LMF<=F!=JFK=@=FEAL+#+/+ 0FL=JLA

L=DF9MK?=KLJ9@DL 9DKG<MJ;@K;@FALLDA;@ .LMF<=FHJG(GF9L 9K:=<=ML=L =AF=.L=A?=JMF?MEE=@J9DK+JGR=FL?=?=Fe:=J

   ='4#06914670)

+.(5 '46'

R</8=>+>>=/2/8G.+="#/<@3-/0S<#/2,/238./<>/

.=AL

:A=L=L<=J*-!=AFKH=RA=DD=K.=JNA;=>eJK=@:=@AF<=JL=MF<:DAF<= 5MK=@=J$FF=F  AF /=AD <=K .HA=D  MF< !=JFK=@>ADE9F?=:GLK OAJ< AF^D8;>? H7DE;A@ 9MK?=KLJ9@DL  9K :=<=ML=L  <9KK =AF !ADE <MJ;@ RMKaLRDA;@= 9CMK

LAK;@= 1=JKL=@=FK@AD>=F RA=D?JMHH=F?=J=;@L 9M>:=J=AL=L OAJ<  A=K= M<A

G<=KCJAHLAGF=F KAF< AF A9DG?H9MK=F =AF?=K;@9DL=L=  CF9HH= KHJ9;@DA;@= =K;@J=A:MF?=F NGF AD<=D=E=FL=F MF< AD<>GD?=F <=K B=O=ADA?=F !ADEK  <=J=F&=FFLFAK>eJ<9K1=JKL=@=F<=J#9F<DMF?:RO >eJ<9K)9;@NGDDRA=@=F NGFLEGKH@aJAK;@=EOA;@LA?AKL MJ;@<A=K=KAFL=JF9LAGF9DAF&AFG /@=9L=J MF</1:=J=ALK=JHJG:L=1=J>9@J=FOAJ<<=JNAKM=DD="=@9DL<=K/1 F?=:GLK >eJ<A=JMF<

.=@:=@AF<=JL=F:RO DAF<=FAF^KL=JJ=A;@9M><=E>eJ KA=O9@JF=@E:9J=F2=?N=JEALL=DL  AF^D8;>?OAJ<AE*-!9CMKLAK;@EALL=DK .A?F9DLGFMF<NAKM=DDV<MJ;@ AF:D=F<MF?=AF=K=FLKHJ=;@=F<=F'G?GKV?=

C=FFR=A;@F=LMF<AE1I7;=3@3>FA@ 1=J>9@J=F9MK?=KLJ9@DL $E%9@J

OMJ<=FAE*-!K=;@K!ADE=MF</1 (GNA=KAE^D8;>?8AD?3F ?=K=F<=L 2=AL=JKK=F<=L<=J*-!J=?=DEaZA?.=JA=FOA=7D>F7G<=J;@3>> 8_D1I7;AE^D8;>?8AD?3F 

/6/,>/=81+1/7/8>" </3=+8+<3>+=?8. <9/8>/

E   %MDA

 OMJ<= RME  (9D <=JD7;@75=7D *7@;AD7@BD7;E N=JDA=@=F  MK?=R=A;@F=LOMJ<=F<9EAL+JGB=CL=>eJ(=FK;@=FAF>AF9FRA=DDK;@OA=JA?=F '=:=FKKALM9LAGF=F =AF=.GRA9D:=?D=ALMF?>eJ(=FK;@=FEALHKQ;@AK;@=F J

CJ9FCMF?=F MF<3D;F3E AJ=CLGJ J  (A;@9=D '9F<9M >eJ K=AF F?9?=E=FL >eJ<A=#GKHAR:=O=?MF?

73/8=>./<661/7/382/3>#9D3+65+7:+18/837"

N=JK;@A=<=F=.MB=LK #AFO=AK=MF<M>JM>=>eJOG@DLaLA?=5O=;C=OMJ<=F

AE*-!CGKL=FDGK9MK?=KLJ9@DL $FK?=K9EL  .GRA9DKHGLKC9E=FAF <=F*-! -9<AGHJG?J9EE=FRME AFK9LR  AF=.GRA9DC9EH9?F=RMJ:3@57@ 9>7;5::7;F9M><=J9KAK<=JNGF<=J 0=JD9KK=F=FFLA<AKCJAEAFA=JMF?KJA;@L

DAFA=FOMJ<=NGE*-!AF-9<AGMF<!=JFK=@=FEAL?=LJ9?=F 


B+0+6+#6+8

IK8377>+6=7/3=>1/2R<>/<"+.39=/8./<37 +8.=/38/&/<+8>A9<>?810S<K=>/<</3-2A+2< A3/5/38+8./</<3>,/A/<,/</60/83=>,/3 K/38/<?8./38=>/66?81E

)".0))& :

=J+JG?J9EE9M>LJ9?M67E&) 7E7FL7EME>9KKL <A=3=FG7>>7 @8AD?3F;A@ .;EE7@E5:38F "G>FGD *BADF MF<,@F7D:3>FG@9  J?ADLMF=AF?=K;@JaFCL>eJ<9K #ALJ9<AG^ ^AKL<9KdKL=JJ=A;@AK;@=#ALJ9<AGEALd>>=FLDA;@

J=;@LDA;@=E(=@JO=JLAF.=JNA;=MF<$F>GJE9LAGF ^R=A;@F=L=AFD=:=F<A?=K HGKALAN=K 9:=JFA;@L MFCJALAK;@=KAD<NGF^KL=JJ=A;@MF<<=J2=DL ^KL=DDLF=:=FHJaRAK=F CGEH9CL=F"JMF<AF>GJE9LA

GF=F<A=:=LJG>>=F=F(=FK;@=FMF<A@J==<eJ>FAKK= AF<=F1GJ<=J?JMF<  ^:A=L=L)MLR=FMF<*JA=FLA=JMF?AEDDL9? =AEG?3@;F3D;3@DA3653EF;@9=J>eDDL<=J.=F<=J R9@DJ=A;@=M>?9:=F>eJ<A=DD?=E=AF@=AL <A=O=AL e:=J<=F"=K=LR=K9M>LJ9?@AF9MK?=@=F &=AF+GH

-9<AGAF MJGH9C9FF<A=K=!eDD=9F+JG?J9EE9CLAG

F=FMF<$FALA9LAN=FNGJO=AK=F O=<=Jd>>=FLDA;@ J=;@L

DA;@=FG;@HJAN9L=.=F<=J $FC=AF=E=J=A;@DaKKL KA;@<=J'G4>;5-3>G7<=Kd>>=FLDA;@ J=;@LDA;@=F-MF<

>MFCKKG=AF<JM;CKNGDD:=D=?=FOA=:=AEG?3@;F3D; 3@DA3653EF;@9<=K#ALJ9<AG^  =J.=F<=J:DA;CL<9:=A9M>=AF=:=O=?L=MF<=AF

<JM;CKNGDD="=K;@A;@L=RMJe;C .;@GFOAJ<<A=X "G??7D@G??7D9DK?=E=AF

K9E=CLAGFNGF*-! <=J3D;F3EMF<<=E*AL;3>?; @;EF7D;G??=?JeF<=L  KCGEE=F9J:=ALKDGK=C9<=

EAC=J$FF=F9DK/=D=>GF:=J9L=J$FF=FRME AFK9LR <A= AE-9@E=F<=KKG?=F9FFL=F=367?;=7DFD3;@;@9E /=D=>GF<A=FKLN=JK=@=F (AL<=EHGDALAK;@=FMK>eJK C9<=EAC=JLJ9AFAF?O9J9M;@<A="G??7D@G??7D ?=>a@J<=L  OAJ<<A=X "G??7D@G??7D9M> $FALA9LAN=<=K-9<AGK=F<=JK?=E=AFK9EEAL<=E 

XEF7DD7;5:;E5:7@)AF7@"D7GL9M>=AFF=M=KEG<=JF=K =J9LMF?KCGFR=HLME?=KL=DDLMF<<A= PAKL=FR<9EAL >eJ%9@J=?=KA;@=JL "ML9MK?=:AD<=L==@J=F9ELDA

;@=)AF "D7GL (AL9J:=AL=J$FF=FKAF<K=AL<9E9DKAF <=F-=LLMF?K<A=FKLKL=DD=FAF?9FR^KL=JJ=A;@>eJ <A=.GJ?=FMF<)dL=<=J^ #dJ=J$FF=F=JJ=A;@:9J  9KAFL=DDA?=FL=/=D=>GFCGFR=HL=FLOA;C=DL^ <9K =J9LMF?KCGFR=HL<9K-GL=&J=MR<A=FJM>=JR9@

D=F=PHDG<A=J=F   OAJ<<=JX "G??7D@G??7D<A=AF?9FR MJGH9 =JJ=A;@:9J=&MJRFMEE=J  RM?=KHJG;@=F  MJG

HaAK;@=&GEE=FL9LGJ=FR=A?=FKA;@N=JOMF<=JL 2A=KG:=CGEELBMKL=AF-9<AGK=F<=J=AF=&MJRFME

E=J>eJ=AF='=:=FK@AD>= #GLDAF=FLOGJL2=AD^ EALC=AF=Ee:DA;@=F-9<AGK=F<=JN=J?D=A;@:9JAKLMF< EAL<=J"G??7D@G??7D9DD=M>D9?=F>eJ=AF==MJG

HaAK;@='=:=FK@AD>= #GLDAF==J>eDDL 9K#ALJ9<AG^MF<<9KXEF7DD7;5:;E5:7)AF7"D7GL 9J:=AL=F=JKLE9DKAE<J9E9LAK;@=F#G;@O9KK=JKGE

E=J =F?RMK9EE=F A=X A5:I3EE7D *A8ADF :;>87OAJ<RMJ?JdZL=F.9;@KH=F<=F9CLAGFAF "=K;@A;@L=<=K.=F<=JK $FFMJO=FA?=F2G;@=FO=J

<=F.9;@KH=F<=FNGF!AJE=F29K;@E9K;@AF=F 5A=

?=D (d:=D '=:=FKEALL=D=L; AE2=JLNGFR=@F(AG  MJG?=K9EE=DL  KKAF<NGJOA=?=F<<A=^ 2=J:=

CMF<$FF=F <A=B=LRLKHGFL9F@=D>=FOGDD=F MJ;@ <9K&FGO @GO<=K)AF7@"D7GL7E?=DAF?L=K <9KK <A="eL=JAFFMJO=FA?=F2G;@=F9M;@L9LKa;@DA;@ :=A<=FNGE#G;@O9KK=J9E@aJL=KL=F:=LJG>>=F=F !9EADA=F9FCGEE=F #AD>= <A=9FCGEEL AKL<9K (GLLG<=K.=F<=JK ^>=A=JLEALK=AF=F#dJ=J$FF=F =AF*H=F AJ &GFR=JL 9DK<9K29KK=J=F<DA;@ RMJe;C?=@L


   ='4#06914670)

Ogilvy

Sind Sie bereit, alles liegen und stehen zu lassen? Hitradio Ã&#x2013;3 und das Rote Kreuz suchen Menschen, die anpacken, wenn Ã&#x2013;sterreich Hilfe braucht. Jetzt anmelden auf OE3.ORF.AT/TEAMOESTERREICH

^N=JO9F<=DLKG?9J9DL= N=JE=AFLDA;@O=JLDGK=#9F

<QKRMO=JLNGDD=E.H=F<=F?=D<>eJ#;5:F;@EG@=7>  A=X .G@67DF_F7AKL=AF= J>AF<MF?<=KCJ=9LAN=F ^ /=9EKMF<@=ML=VG>LCGHA=JLMF<FA==JJ=A;@LV <A=?JdZL=.9EE=D9CLAGF<A=K=JJLAF?9FR MJGH9  DD=AF=:=A<=JCLAGF OMJ<=Fe:=J  #9F<QK?=K9EE=DL<9K=J?A:L=AF=.H=F<=FKMEE= NGF  MJG>eJ!9EADA=FAF)GL $FK?=K9EL CGFFL=FEAL<=F<J=ACLAGF=FK=AL e:=J (AG  MJG?=KH=F<=LO=J<=F 5MKaLRDA;@OMJ<=F1GDD

R=AL9J:=ALKHDaLR=>eJ'9F?R=AL9J:=ALKDGK=AE-9@E=F <=K+JGB=CLKX .G@67DF_F7>AF9FRA=JL M;@ MFL=JKLeLRL^<A=CLAGF*FG@67@A:@7 "A?BDA?;EE 2=FF %M?=F<DA;@=<J=A/9?=D9F? &AF<=JKHA=DHDaLR=J=FGNA=J=F *:<9;@DGK=:=LJ=M=FG<=J DL=JK@=AE=9MKE9D=F CdFF=FKA=9M><A=0FL=JKLeLRMF? A@J=K'A=:DAF?KK=F<=JKRa@D=F (AL<=FM>JM>=FAE -9<AGOAJ<<A=#AD>K9CLAGF<=J"3F:A>;E5:7@!G97@6EAL <=J!G@97@3D;F3E9M;@ =AF?JGZ=J J>GD?  OAJ<9:=J9MK=AF=E9F<=J=F"JMF<AF<A= "=K;@A;@LK:e;@=J=AF?=@=F^?JeF<=L?=E=AFK9EEAL <=EXEF7DD7;5:;E5:7@)AF7@"D7GL<9K+73?XEF7DD7;5:  2=FFAE!=JFK=@=F<A=AD<=JNGF)9LMJC9L9KLJGH@=F RMK=@=FKAF<MF<<9K-9<AGMF=FLO=?L<9Je:=J :=JA;@L=L <9FF=FLKL=@LKL=LK=AF=K =AF=e:=JOaDLA

?=F<==J=ALK;@9>L KG>GJLRM@=D>=F FA;@LFMJEAL "=D< KGF<=JF9M;@EAL<=F=A?=F=F#aF<=F G;@9F O=FO=F<=LE9FKA;@AFKG=AF=E!9DD2=JK9?L =AF=E OA=E9FNGF?JGZ=E)MLR=FK=AFC9FFA=K= NGJ@9F<=F=#AD>K:=J=ALK;@9>LOAJ<AE+73?XEF7DD7;5: =JKLE9DKC9F9DAKA=JL 9K+73?XEF7DD7;5:AKL<9K =JKL=+JGB=CL<A=K=JJL <9K=AF=F=M=!GJE<=J

)9;@:9JK;@9>LK@AD>=KAFFNGDD=JEd?DA;@LMF<HJG>=KKA

GF=DDGJ?9FAKA=JL G@F=<9KK<A=/=9EEAL?DA=<=J<9:=A <9M=J@9>L=1=JH>DA;@LMF?=F=AF?=@=FEeKK=F 9K +73?XEF7DD7;5::=KL=@L9MK(=FK;@=F <A=KA;@NA9 $FL=JF=LAF=AF=J9L=F:9FCJ=?AKLJA=J=F <GJLME>9K

K=F<e:=JA@J=:=KGF<=J=F&=FFLFAKK=MF<!a@A?C=A

L=FMKCMF>L?=:=FMF<=AF=F AF>e@JMF?KCMJKRME /@=E9"3F3EFDAB:7@:;>879:KGDNA=J=F 9F9;@CdF

F=F<A=(AL?DA=<=J<=K+73?XEF7DD7;5::=A?JGZ=F &9L9KLJGH@=FAE$FD9F<CGFL9CLA=JLO=J<=F  A=CLAGFe:=JLJA>>L9DD= JO9JLMF?=FAK@=ML= @9:=FKA;@e:=J ^KL=JJ=A;@=J$FF=F>eJ<9K +73?XEF7DD7;5:J=?AKLJA=JL ^FAEEL9DKE=AKL?=@dJL=J-9<AGK=F<=JAE'9F< K=AF=1=J9FLOGJLMF?>eJ^KL=JJ=A;@9DKGO9@JOA= C=AF9F<=J=J(AL:=O=J:=J #=D>=FAKL:=A^=AF= "JMF<=AFKL=DDMF?#AD>K9CLAGF=FKAF<>AP=J=KL9F<L=AD <=K+JG?J9EEK 2=J:=J=ALAKL AF&JAK=FKALM9LAGF=F 9DD=KDA=?=FMF<KL=@=FRMD9KK=F AKL:=A^MF<K=A

F=E+73?XEF7DD7;5:?=F9MJA;@LA? A=X 7?7;@67 AKLC=AF@G@D=J2=J:=KDG?9FKA==PAKLA=JL 9KK^EALK=AF=E9MZ=JGJ<=FLDA;@=F F?9?=E=FL KGRA9D=2=JL=OA=%35:43DE5:38FE:;>87 ;>8E47D7;F E5:38FG<=J%[5:EF7@>;747@G;@@aDLMF<<9EAL O=K=FLDA;@RM=AF=E:=KK=J=F5MK9EE=FD=:=FAE '9F<:=ALJa?L AKLAF"=D<O=JL=FK;@O=JRM:=RA>>=JF  A=K=J'G4>;5-3>G7<=Kd>>=FLDA;@ J=;@LDA;@=F-MF<

>MFCKAKLMF=JE=KKDA;@ 2aJ=^VOA=+JAN9LK=F<=JV FMJ9M>"=OAFF9MK?=JA;@L=L OaJ=<A=K=K F?9?=

E=FLOG@DFA;@LEd?DA;@?=O=K=F 

)".0))& 





G2.O//.7=52,1;.,1=52,1.7!.7-.;@855.7>+52,$*5>.<,1*//.7E.1; @.;=/P;*55.!2.@855.70.<.55<,1*/=52,1 .5.?*7=.<*7+2.=.7-*<72,1= -.7.<.=C.7-.<*;4=.<0.18;,1=<87-.;7-.7.-P;/72<<.7.27.; =;*7<9*;.7=.7-.684;*=2<,1.7.<.55<,1*/=D 3O;7!=*<,1.7




  %=<= JD=:LAF"=E=AFK;@9>L=F $F<=J!9EADA= 9EJ:=ALKHD9LR AF.L9<LMF<'9F< M;@O=JKA;@9DD=AF >e@DL AKLEAL<=J"=K=DDK;@9>LN=J:MF<=F $F=AF=J2=DLNGDD=J5MK9EE=F@aF?= #AFL=J?JeF<=MF<:@aF

?A?C=AL=F  KCGEEL<9J9M>9F KA=RMN=JKL=@=F  =EGCJ9LA=MF<<9K'=:=FAF=AF=J2=DLMFe:=JK;@9M:9J=J1A=D>9DL=J>GJ<=JF*JA=FLA=JMF?MF<2AKK=F  OA=?=K=DDK;@9>LDA;@=:DaM>=>MFCLAGFA=J=F )GLO=F<A?AKL$F>GJE9LAGF <A=KA;@NGF1GJMJL=AD=F .H=CM

D9LAGFMF<CMJR>JAKLA?=F/J=F<KMFL=JK;@=A<=L 29K(=FK;@=FLJ=FFL AKL/=AD<=JMK=AF9F<=JK=LRMF?=F <A=d>>=FLDA;@ J=;@LDA;@=J-MF<>MFC9::AD<=L  0F9:@aF?A? &JALAK;@ (ALBGMJF9DAKLAK;@=J&GEH=L=FR eJ?=JF9@ AE.LJ=AL MF<&GF>DACL>9DD9M;@EAL<=E DA;C9M><A=.;@9LL=FK=AL=F<=K'=:=FK 29K(=FK;@=FOAKK=FKGDD=F MEA@J=0EO=DLRMN=JKL=@=F AKLAD<MF?K9M>LJ9?<=K*-!  J:=<=ML=L #AFL=J?JeF<=:=D=M;@L=F +GDALAC 2AJLK;@9>L &MFKL 2AKK=FK;@9>L .HGJL -=DA?AGF +@ADGKGH@A=MF<DDL9? N=JKLaF<DA;@E9;@=F =JCDaJ=FMF<@AFL=J>J9?=F 29K(=FK;@=FN=J:AF<=LAFA@J=J'=:=FK9JL O9KKA=AF&MFKLMF<&MDLMJ9M> MF<9FJ=?L HJGNGRA=JLMF< RME)9;@<=FC=F:JAF?LAKL>eJ<=F*-!=AFM>LJ9?B=FK=ALK<=J,MGL= MEKA;@L:9JRME9;@=F &J=9LANALaL9DK'=:=FK MF<MK<JM;CK>GJEAKLAF<=Fd>>=FLDA;@ J=;@LDA;@=F(=<A=F=AFN=JH>DA;@L=F

<=J,M9DALaLK9FKHJM;@ =J*-!AKL=AF=?=K=DDK;@9>LDA;@KAFFNGDD= AFJA;@LMF? 5MCMF>L@9L=JFA;@L9DK:eJGCJ9LAK;@=$FKLALMLAGF G<=J9DK.HA=D:9DD<=J+GDALAC KGF<=JF9DKD=:=F<A?=MF<G>>=F=(=<A=F +D9LL>GJE>eJ<A==<eJ>FAKK=<=J (=FK;@=F (aJCL=N=JO=JL=F+JG<MCL=MF<#ME9FC9HAL9D =J*-!HJG<MRA=JL.GRA9DC9HAL9D !eJ(=F

K;@=F <A=KA;@AF<=J2=DLFA;@LFMJ9DK&GFKME=FL$FF=FOA=<=J>AF<=F 0FK=JM>LJ9?GEEMFALA=KE9LL=J "=K=DDK;@9>LRa@DL




%# !#!$ #!# H!!F     $#$!$#!




=.<:)/    

  

  

  

   

-1;<=6/ 











A=0FL=JK;@A=<=MF< A?=F@=AL=F <=J(=FK;@=F <A=1A=D>9DLAF "=K=DDK;@9>LMF<0EO=DL9M>R=A?=F  L@=E9LAKA=J=FMF<<GCME=FLA=J=F 0FL=J@9DLMF?MF<$F>GJE9LAGF e:=J9DD=V>eJ9DD=

-0:?-:< 1-%#,-:&-4<D  0J:-6;-0-6?)0:6-05-6

G>*52=N=26 >7-/>74+.-.>=.=*>,1-.7=2=N=62=-.60.<.55<,1*/=52,1.7#6/.5- C><=2/=.7>7-.27.6O052,1<=+;.2=.4>5=>;.550.62<,1=.K//.7=52,14.2=C>.;;.2,1.7 .0.7<.2=20.<$.;<=.1.7>7-@.,1<.5<.2=20."85.;*7C<27--2.&2.5.-2.<.;8;6 ?87>*52=N=<<2,1.;>70D 2.=.;O;;>7-.<<2,*!N70.;#72?.;<2=N=*27C




^>>=FLDA;@ J=;@LDA;@=&GEEMFAC9LAGFC=FFLMF<KHJA;@L NA=D=.HJ9;@=F 0FL=J@9DLMF?:RO $F>GJE9LAGFe:=J<A= 1A=D>9DL<=J2=DL=Jd>>F=FF=M=#GJARGFL=MF<+=JKH=CLA

N=F .A;@9MKK;@DA=ZDA;@9FC9M>CJa>LA?=F5A=D?JMHH=FMF< (G<=LJ=F<K9MKRMJA;@L=FAKL>eJ=AF>MFCLAGFA=J=F<=K <=EGCJ9LAK;@=K5MK9EE=FD=:=FFA;@L?=FM? A=M>?9

:=<=K*-!AKL=K<9@=J <9K(GK9AC<=K'=:=FKAF0EO=DL MF<&MDLMJ <A=(=AFMF?KNA=D>9DLAF<=J"=K=DDK;@9>LO9@J

RMF=@E=F RMN=JEALL=DF N=JKL=@=FRMD=JF=F>eJ%MF?MF< DL >eJ!9EADA=FMF<.AF?D=K >eJ(aFF=J !J9M=FMF<&AF

<=J >eJ(=FK;@=FEALG<=JG@F=J=DA?AdK=E=C=FFLFAK !J=E<=KEMKKFA;@L>J=E<:D=A:=F )=M=K:=<JG@LFA;@L FMJ<9K=KL=@=F<= =K=J?aFRLMF<=JO=AL=JL =Jd>>F=L<=F DA;C>eJ<A=2=DLNGFEGJ?=F  1A=D>9DLAKL=AF=@9F;=>eJ<A="=K=DDK;@9>LMF<=AF= RMCMF>LKGJA=FLA=JL=#=J9MK>GJ<=JMF?>eJ<=F*-!

:)3<1;+0-:=<B-6 

AF=EGCJ9LA=O=JL>eJ=AF=G>>=F="=K=DDK;@9>L




14/#6$4#7%*614/#6

G.<<.;62=.27*7-.;5.+.7C>4O77.7C2?252<2.;=.;62=.2 7*7-.;>6C>0.1.7>7-;.<9.4=?85562=.27*7-.;C> ;.-.7 %.77-.; -*C>72,1=?.;5.2=.7>7-?.;/P1 ;.7@855=.?.;*,1=.=..;<.27>+524>6>7-<2,1<.5+<=D

,)#$+$,."+6 .,$.**!&."(0,.

$F9DDK=AF=E/MFMF<#9F<=DFKA=@LKA;@<=J*-!9DK :eJ?=JF9@=JA=FKLD=AKL=J9FK=AF=E+M:DACMEMF< 9DK$<=FLALaLKKLA>L=J<=J"=K=DDK;@9>L 9:=A9J:=AL=L =JAEM>LJ9?<=J"=K=DDK;@9>LVMF<FAEEL?D=A;@R=A

LA? AF>DMKK9M><A="=K=DDK;@9>L  =KK=JEAL=AF9F<=JD=:=FRMCdFF=F RANADAKA=JL=JEAL

=AF9F<=JMERM?=@=FMF<J=KH=CLNGDDEAL=AF9F<=JRM J=<=FV<A=5MCMF>LNGFMFKMF<MFK=J=J&AF<=JE=A

F=F<2=FF<=J*-!<9RMFA;@LN=JD=AL=FMF<N=J>e@J=F OGDDL= N=J9;@L=L==JK=AF+M:DACMEMF<KA;@K=D:KL

<A=MFL=JK;@A=<DA;@KL=FAD<=JNGF"=K=DDK;@9>LRM CGEEMFARA=J=F =J*-!@9LK=AF=E+M:DACME<A= 2=DLAFA@J=J1A=D>9DLMF<D=LRLDA;@9M;@AFA@J=FRANADA

K9LGJAK;@=F@9F;=FNGJRM>e@J=F +DMJ9DAKEMKKL9LL.L=J=GLQH=FRM>dJ<=JF:=AKHA=DK

O=AK=:=A!J9M=F MF<(aFF=JLQH=F :=A%M?=F< G<=J .=FAGJ=F:AD<=JF :=A'=:=FK9JL=FG<=J=RA=@MF?K

EG<=DD=FF<=JKE=AF=F<=FA;@L9DKGHHGKALAGF=DD 9:LMF(AF<=J@=AL=F9DKCMDLMJ=DD=F-=A;@LME=EH>AF

<=F%M?=F<DA;@=AFA@J=J.M;@=F9;@$<=FLALaLMF< $<=FLA>AC9LAGFMFL=JKLeLR=F)=M?A=JRMH>D=?=FMF< <A=DL?A=JA?=FAF!J9?=RMKL=DD=F>J=E<:=KLAEEL= 2=DL:AD<=JCJALAK;@@AFL=J>J9?=F<G>>=F=MF<>9AJ= AKCMJK=e:=J<A=+JG:D=E=@=MLA?=J"=K=DDK;@9>L=F 9MKRMLJ9?=FVCMJRMEA=0FL=J@9DLMF?e:=J9DD= /@=E=F <A=MFK=J'=:=F:=Je@J=F RM>e@J=F<9RM Ed;@L=<=J*-!AFK=AF=ELa?DA;@=F.;@9>>=F:=ALJ9

?=FMF<LaLA?N=J>e@J=F 9KAKL<A=9KAK 9M><=J d>>=FLDA;@=J-MF<>MFCK=AF=R=AL?=FdKKAK;@==J=;@LA

?MF?MF<)GLO=F<A?C=AL>AF<=L 

+JAN9LK=F<=JE9;@=FFMJ>eJ=AF=FF9;@CGEE=JRA=D

D=FKH=CL=F9MK?=Oa@DL=F/=AD<=J"=K=DDK;@9>L F?=:GL= $E(ALL=DHMFCL<=K$FL=J=KK=KKL=@L<=J "=OAFF>eJ<A= A?=FLeE=J$FF=F ^>>=FLDA;@ J=;@LDA

;@=!=JFK=@E9;@=J$FF=FKAF<AFA@J=E?=K=LRDA;@=F M>LJ9?MF<.=D:KLN=JKLaF<FAK9:=J<9RM:=JM>=F  +JG?J9EE=>eJ9DD=9FRM:A=L=F  ?9DO=D;@=JVG>L <MJ;@JALL=EAL:=KLAEEL=FV5A=D?JMHH=KA=9F?=@d

J=F 2AJ?D9M:=F <9KK=K?=>a@JDA;@AKL 5A=D?JMHH=F KGRMN=J;DMKL=JF <9KK<A=(=FK;@=FAFA@J=J$F<ANA

)MJ=O9@J=F>e@JLRM.LADDKL9F<MF<@=EEL-=9CLAGF <M9DALaL<9JAFN=JK;@OAF<=F 9@=JOGDDL=FOAJMFK MFK=J+M:DACME9EDA=:KL=F9DK?JdZLEd?DA;@=FR9@D OA=CLAGF !eJ"=K=DDK;@9>L=FOA=>eJ(=<A=F?ADL NGF(=FK;@=FNGJKL=DD=F<=FF9DKKL9LAKLAK;@="JdZ= 2=JKA;@9MKF?KLNGJ-AKACGMF<0FKA;@=J@=ALEAL :DGZ=FX_:=JD=:=FKEG<=DD=FS:=?Fe?L DaM>L"=>9@J  !GJLK;@JALLMF<5MCMF>LK;@9F;=FRMN=JO=A?=JF  &DAK;@==KEALRMCJ=A=J=FMF<>9DK;@=$E9?=KRM JF=M=JMF?KOADD=MF<-=>GJE>J=M<A?C=AL?=@dJ=F LJ9FKHGJLA=J=FV<9KRa@DLRM<=F=JM>KJAKC=F<=K <9@=JRM<=FO=K=FLDA;@KL=F.LJ9L=?A=F <=J=JKA;@ !=JFK=@=FK G;@<=J!GJLK;@JALL=AF=J5ANADAK9LAGF d>>=FLDA;@ J=;@LDA;@=J-MF<>MFCAFFF9@E=<=J#=J

R=A?LKA;@AFK=AF=J1A=D>9DLMF<FA;@LAEFD=?=FNGF (GFGCMDLMJ=F ^>>=FLDA;@ J=;@LDA;@=J-MF<>MFC@9LAF 9MK>GJ<=JMF?=F:=<A=F=FCdFF=FEeKK=F  DKGX'=:=FKEG<=DD=SK;@9>>=F  K=AF=J+JG?J9EE9MKO9@DMF< =FLOA;CDMF?<9J9M> =<9;@LRMF=@E=FMF<AFK=AF=E"=K9EL9F?=:GL 


      ='4#06914670) =+'.(#.6 DD=J=<=FNGF,M9DALaLMF<B=<=JE=AFL<9EAL=LO9K 9F<=J=K (9F>GJEMDA=JL<9:=AE=AKLH=JKdFDA;@= .L9F<9J<K AF<ANA<M=DD= JO9JLMF?=F CMDLMJ=DD= A?=F:=>AF<DA;@C=AL=F =Jd>>=FLDA;@ J=;@LDA;@=-MF<

>MFCC9FF=F;@E9JCKK=LR=F 9DK'=ALE=<AME#9D

LMF?9FF=@E=F <A=K=<MJ;@$F@9DL= .LADMF<>GJE9

D=K&dFF=F9MK<Je;C=F  A=0EK=LRMF?<=Kd>>=FLDA;@ J=;@LDA;@=FM>LJ9?K C9FF9DAEEA?A6AFA;@L9F@9F<=AFR=DF=J.=F<MF

?=FG<=J?9J.=F<MF?KL=AD=?=E=KK=FO=J<=FV<=J AE"=K=LR>GJEMDA=JL=+JG?J9EE9M>LJ9?JA;@L=LKA;@ 9F<9K+JG?J9EE9F?=:GLAFK=AF=J"=K9EL@=AL  PHDA

RAL9F?=>e@JLAKLK=D:KLN=JKLaF<DA;@9M;@<A=,@F7D:3> FG@9 9@=JAKL<9KG>LNGF9MZ=FHJGNGRA=JL=MK

KHA=D=F<=J&9L=?GJA=F @8AD?3F;A@MF<,@F7D:3>FG@9  O9K<=FFFMFX^887@F>;5: D75:F>;5:SK=AMF<O9K FA;@L G:KGD=L 2A=9MK=AF=J.LM<A=<=K&) 'G4>; =G?ED3FE@=JNGJ?=@L =FLKHJA;@L<9K=<eJ>FAKF9;@ 0FL=J@9DLMF?=AF=E<=JO=K=FLDA;@KL=F2eFK;@= <A= <A=5MK;@9M=J$FF=F9F<=F*-!KL=DD=F 5MKaLRDA;@ O=J<=F<A=CD9KKAK;@=F=?JA>>=<=K-MF<>MFC?=K=L

R=K=LO9 @8AD?3F;A@ "G>FGD ;>6G@9 ,@F7D:3>FG@9 NGF<=F5MK;@9M=J$FF=F@=MLRML9?=G@F=<A=KFA;@L E=@JKGC9L=?GJAK;@O9@J?=FGEE=FMF<?=LJ=FFL 

!eJ<=F*-!AKL<A=!dJ<=JMF?<=KdKL=JJ=A;@AK;@=F /9D=FLK <=JdKL=JJ=A;@AK;@=F&J=9LANALaLMF<<=J dKL=JJ=A;@AK;@=F+JGN=FA=FR<A=9KAK9DD=J&9L=?GJA

=FMF<"=FJ=K 2=K=FLDA;@<9:=AAKL=K <=FX^KL=J

J=A;@ =RM?SFA;@L9DK=?GAKLAK;@ HJGNAFRA=DD=K  X?=K;@DGKK=F=K.QKL=ESIM9KA9DKXGEFDA A5AA @;@9S9:KA;@LDA;@>=@DRMAFL=JHJ=LA=J=F KGF<=JF<A=

K=FKL=LK9M>M?=F@d@=MF<AE&GFL=PLEAL9F<=J=F AFL=JF9LAGF9D=F/J=F<KMF<&MDLMJ=FRMK=@=F 2=JK9?L= O=JR=A?L=9DKG MJGH9 <=J2=DLFG;@ =LO9K9MKMF<e:=J^KL=JJ=A;@ O=FFFA;@L<=J*-! 9KEMKKE9F9FK9?=F D=AKL=F HJG<MRA=J=F 9K CGKL=L"=D< 9>eJ:=CGEEL<=J*-!"=:e@J=F 5MJ JR=M?MF?MF<>eJ<=F/J9FKHGJLF=M=J F9;@@9DLA?=J dKL=JJ=A;@AK;@=J$<=FLALaL 9EALOAJOAKK=F O=JOAJ KAF<MF<O9K9F<=J=NGFMFK@9DL=F $F MJGH9 AF<=J 2=DL A=2=DLCGEELNGF9DD=AF=AFK#9MK ^KL=JJ=A;@ FA;@LK=D:KLN=JKLaF<DA;@AF<A=2=DL  MJGH9=AF MF< 9MK9LE=F <9KC9FF9E9M<AGNAKM=DD=F.=CLGJAF ^KL=JJ=A;@FMJ<=J*-! <A='MF?=<=KADBGEGEFD;3 5GE =J*-!AKL9DKG=AF=F9;@O=AKDA;@=GJ?9FAK;@= )GLO=F<A?C=AL>eJMFK=J'9F< $@FRME9J?AF9DAKA=J=F :=<=ML=L=B=<=F>9DDKCMDLMJ=DD=L=EFGL>eJ<A=eJ?=

J$FF=FG<=J?=AKLA?=F.=D:KL9FK;@DMKK9F:=DA=:A?= =D=CLJGFAK;@=2=DL=F 

,)#$+$,."+6




')+10#.'+'.(#.6#.57#.+6C65/'4-/#.

G2.6.-2*5.*;<=.55>70O;-.;>70>7-/5.0.-.; <9;*,152,1.7>7-4>5=>;.55.7$2.5/*5=5.2<=.=.27.7 @.<.7=52,1.7.2=;*0C>;-.7=2=N=D

.)%"&+6-/0 +!"/!&."(0,. 1.$"+)+!

2=FFB=<=K%9@J9E=JKL=F.GFFL9?AE.=HL=E:=J MFK=J+M:DACMERME&)GD97@>3@6 *FG6;A87EF CGEEL KA=@L=K9DK=?JeZMF?<=F.DG?9F<=K.=F

<=JKX9:AFA;@<9@=AESFA;@LFMJAF=MLK;@ KGF

<=JF9M;@AFMJ?=FD9F<CJG9LAK;@ 0F?9JAK;@MF< -GE9F=K 2AJOGDD=F<9EALRMEMK<JM;C:JAF?=F  <9KKMFK=J=-A>=E9DGBB7@BDA9D3??7AF-9<AG !=JF

K=@=FMF<GFDAF==AFAFL=?J9D=JMF<MFN=JRA;@L:9J=J =KL9F<L=AD<=K?=K9EL=F+JG?J9EE9M>LJALL=KKAF<  (AL<=F-A>=E9DGBB7@BDA9D3??7@=J>eDD=F<A=(AL9J

:=AL=J$FF=F<=J1GDCK?JMHH=FJ=<9CLAGFFA;@L:DGZ<=F ?=K=LRDA;@=FM>LJ9? KA=K;@9>>=FF9;@NGDDRA=@:9J=F (=@JO=JLFA;@LFMJ>eJ<A=9MLG;@L@GF=F1GDCK?JMH

H=F KGF<=JF>eJ<A=?=K9EL=-=?AGF 9:=A:=K;@JaF

C=FOAJMFKFA;@L9M><A=EMLL=JKHJ9;@DA;@=1=JKGJ?MF? 9DD=AF NGDCK?JMHH=FJ=D=N9FL=/@=E=FO=J<=FAF9DD=F +JG?J9EE=F<=K&)GD97@>3@6MF<AF<=F>eJ<9K F9LAGF9D=+JG?J9EEHJG<MRA=JL=F.=F<MF?=F:=Je;C

KA;@LA?L A=K=EAFL=?J9LAN=F+JG?J9EE9FK9LR>GD?L 9M;@<A=K=;@KE9DBa@JDA;@HJG<MRA=JL=/1 .=F<MF? *7DHGE*L;316D3HA7>FG:3 AF<=J9DD=NA=J.HJ9;@=F <=K'9F<=K1=JO=F<MF?>AF<=F A=E=<A9D=9JKL=D

DMF? !dJ<=JMF?MF<+>D=?=<=JKHJ9;@DA;@=FMF<CMDLM

J=DD=F1A=D>9DLD=AKL=L=AF=FO=K=FLDA;@=F=ALJ9?RMJ $<=FLALaL<=KMJ?=FD9F<=K "D=A;@R=ALA?:A=L=LKA=<=E '9F<=KKLM<AG<A=@9F;= <A==AFRA?9JLA?=J=?AGF9D= 1A=D>9DLAF<=F+JG?J9EE=FRMD=:=FMF<<9EALMFN=J

O=;@K=D:9JRM:D=A:=F  A=J=?AGF9D=1A=D>9DLKHA=?=DLKA;@9:=JFA;@LFMJAF <=F-A>=E9DGBB7@BDA9D3??7@OA<=J 0FK=J=F?=:G

L=AE=J=A;@<=JFD36;F;A@7>>7@-A>=E?GE;= <=J"G>FGD



G<=J<=J>3E?GE;==FLKHJ=;@=F=AF=JK=ALK<=F2eF

K;@=F<=K+M:DACMEK 9M><=J9F<=JF.=AL=KAF<KA==AF O=AL=J=K OA;@LA?=K(=JCE9D<=JA>>=J=FRA=JMF? A= 9JKL=DDMF?<A=K=J1A=D>9DLAE.H9FFMF?K>=D<ROAK;@=F #=AE9LN=J:MF<=F@=ALMF<2=DLG>>=F@=ALKGOA=<A= ME>9KK=F<=9CLM=DD==JA;@L=JKL9LLMF?9MK9DD=F/=AD=F <=K'9F<=KMF<<=F9F?J=FR=F<=F-=?AGF=FCGEE=F <=E=<eJ>FAK<=K+M:DACMEKF9;@*JA=FLA=JMF?=FL

?=?=F <9K<MJ;@<A=F=M=-GDD=<=KMJ?=FD9F<=KAF =AF=J=MJGHaAK;@=F-=?AGFMF<<=F<9EALN=J:MF<=F 1=JaF<=JMF?=F #=J9MK>GJ<=JMF?=F @9F;=FMF<-AK

C=F?JdZ=J?=OGJ<=FAKL  $F<=J=D=CLJGFAK;@=F_:=J>DMKK?=K=DDK;@9>LOGDD=FOAJ <9EALNGFMFK=J=E+M:DACME9DKN=JLJ9ML=J N=JLJ9M

=FKOeJ<A?=JMF<N=JDaKKDA;@=J=?D=AL=JO9@J?=FGE

E=FO=J<=F 1=JLJ9M=F=FLKL=@L<MJ;@BGMJF9DAKLAK;@= 0F9:@aF?A?C=AL <MJ;@&GEH=L=FR "D9M:OeJ<A?C=AL MF<&GEEMFAC9LAGFAFM?=F@d@=EAL<=E+M:DACME  A=<9J9MKJ=KMDLA=J=F<=)a@=RME+M:DACMEAKL=AF =J>GD?K=FLK;@=A<=F<=K&JAL=JAME  A=K=)a@=DaKKLKA;@FA;@LFMJ9:KLJ9CL9E) &+*+ G<=J9E+#+*+9:D=K=F ?9FRCGFCJ=LC9FFE9FKA= :=AMFK=J=E*FG6;A87EF9E=JKL=F.GFFL9?AE.=HL=E

:=J=J>9@J=F 9KK<9:=AAE!Je@K;@GHH=F9M;@AEE=J (MKAC=FK=E:D=K<=J:MJ?=FDaF<AK;@=F1GDCK?JMHH=F 9M>LJ=L=F AKLK=D:KLN=JKLaF<DA;@ 9KAF<9M;@KA= <9@=AE 

.)%"&+6-/0


?8./=6+8.2/?>/

G@67E>3@6:7GF7DA=>=JLLa?DA;@

V  *-! 9MK<=FF=MF#3@67E EFG6;AE=ALJa?=MF<)9;@JA;@L=Fe:=J J=A?FAKK=NGJ<=J#9MKLeJ<=J.=@=J$F

F=F .=AL %9@J=FAKLG@67E>3@6:7GF7=AF?=D=:L=K=C=FFLFAKRME!d<=

J9DAKEMK <=J=AF"JMF<HJAFRAH<=Kd>>=FLDA;@ J=;@LDA;@=F*-!<9JKL=DDLVMF< <A=F9;@5MK=@=JR9@D=F:=DA=:L=KL=.=F<MF?<=K*-! (=@J<9RM9:.=AL=  

X.=ALA@J=J"JeF<MF?AE%9@J

AKL<A=.=F<MF?WMF<=KD9F<@=ML=8=AF=K <=J =J>GD?J=A;@KL=F *-! /1 F?=:GL=  A@J= .LaJC=F KAF< J=?AGF9D= &GEH=

L=FR 1=JDaKKDA;@C=AL .=JAGKALaLMF<1A=D>9DL A=F=MF*-! '9F<=KKLM<AGK9DK +JG<MR=FL=FNGFWMF<=KD9F<@=ML=8=JO=AK=FKA;@<9EAL9DK:=Oa@JL=MF< U=PA:D=+9JLF=J<=K+M:DACMEKAF<=FMF<=KDaF<=JFMF<LJ9?=F<9RM:=A <A= $<=FLALaL <=J -=?AGF=F RM KLaJC=F  WMF<=KD9F< @=ML=8 AKL ?=D=:L=J MF< La?

DA;@=J:J9;@L=J+M:DA;19DM= EAL<=EOAJMFKAF<=JE=<A9D=F&GFCMJJ=FRD9F<

K;@9>L^KL=JJ=A;@K<=MLDA;@MF<=J>GD?J=A;@MFL=JK;@=A<=F S

   =+'.(#.6

+0 7(64#)'70 70&'5.C0&'4

.)"4+!".."06  "+".)!&."(0,.

""/1398+6<+.39

A=#3@67EEFG6;AE<=K*-!:A=L=F<A=:=DA=:L=KL=F-9<AGHJG?J9EE=<=K'9F

<=K(=@J9DK<A=#aD>L=<=J^KL=JJ=A;@=J$FF=F9: %9@J=F@dJ=FLa?DA;@RM

EAF<=KL=AF=.=F<MF? <A=NGF=AF=E#3@67EEFG6;AHJG<MRA=JLOAJ< A=.=F

<MF?=FKM;@=F<A=JA;@LA?=9D9F;=ROAK;@=F,@F7D:3>FG@9  @8AD?3F;A@MF< D79;A@3>7D-;7>83>F %=<=K<=JF=MF#3@67EEFG6;AEHJG<MRA=JL=

E=@J9DK

 .LMF<=F -=?AGF9DHJG?J9EE  (=@J <9RM AE'G4>;5 -3>G7 '=AKLMF?K:=

JA;@L<=J&) #3@67EEFG6;AE 

6:/898+?.<3+

9K>B7@ A@3G 6D;3 (9?9RAF.9EKL9?  0@J *-!  ?=KL9DL=LNGE &) #3@67EEFG6;A *F7;7D?3D=  e:=JK;@J=AL=L "J=FR=F  N=J:AF<=L (=FK;@=F MF<=KD=AKL=L@=ML=O=AL=J@AF=AF=FOA;@LA?=F=ALJ9?RMJAFL=JJ=?AGF9D=F1dD

C=JN=JKLaF<A?MF? 

>=A=JL=<9K(9?9RAF<9K  Ba@JA?=%M:ADaME

38>/<1<?8.#/77/<3819-2A3/8G/38/#>+.>D3/2>38=/,3<1/G.950367 29KKA;@AE %9@J@MF<=JL9DKX9DCGFNGF2A=FS=L9:DA=JL@9L AKL@=ML=OA=<=JXAFSA=GCME=FL9LAGF R=A?L= 9E   =R=E:=J

  OA= <=J .=EE=JAF? FG;@ AEE=J EAL <=E "D9FR <=J C9AK=JDA;@=F 1ADD=F MF< "J9F<@GL=DK:=R9M:=JL  +=JKdFDA;@C=AL=FOA=.A?EMF<!J=M< JL@MJ.;@FALRD=J #=AEALGNGFG<=J=JMF<%GK=H@AF=9C=J>e@J=F<MJ;@ <A="=K;@A;@L=<=JX.GEE=J>JAK;@=S <A=@A=J?=K;@JA=:=FOMJ<= =JGCME=FL9JTDENGF&MJL(9Q=J=JRa@DL 9M;@NGE&9EH><=J-=?AGFMEK_:=JD=:=F MF<<9KLJGLRK=AF=J-=F9AKK9F;=AF<=J2=DDF=KK "=K=DDK;@9>L

+8.?8./?>/

9K(9?9RAF.9EKL9?  0@J *-! @9L=AF=Je;C=F>MFCLAGFROAK;@=F '9F<OAJLK;@9>LMF<&GFKME=FL$FF=F %GMJF9DAKL$FF=F9MK<=F#3@67EEFG 6;AE  ?=KL9DL=F -=HGJL9?=F e:=J &MDLMJD9F<K;@9>L=F  0EO=DL:=<AF?MF?=F MF<D9F<OAJLK;@9>LDA;@=+JG<MCL=<=JN=JK;@A=<=F=F-=?AGF=F




+'.(#.6/+6 7)'0/#A

G%2;+.6P1.7>7<>6%!""%2;@855.7 72,1=7>;.;0;P7-.7@*<*74866=<87-.;7*>,1 @8;*>/.<*74866=D

".%.!)"&+  ")&$&,+

A=(G<=JF=@9LEAL<=E1=JK;@OAF<=FNGF-=DA?AGF ?=J=;@F=L 0F<@9LKA;@?=AJJL -=DA?AGF KGe:=J@GDL KA=K;@A=F @9Le:=JD=:L .HAJALM9DALaLMF<.AFFN=JEALL

DMF?@9:=FKA;@=AF=FF=M=F(9JCL=JG:=JL #9F<=DL=K KA;@@A=J:=AMECMJR>JAKLA?=(G<=FG<=JME=AF=LA=>

?J=A>=F<=-=NAKAGF<=K@=JCdEEDA;@=F-=DA?AGFKN=J

KLaF<FAKK=K"=@L=K@A=JMELJ9?>a@A?=F=M='=:=FK

=FLOeJ>=G<=JD=<A?DA;@ME<=F1=JKM;@ <9K$JJ9LAGF9

D=@G>>a@A?RME9;@=F0F<O9JMECdFF=F<A==L9:

DA=JL=F&AJ;@=FMF<-=DA?AGFK?=E=AFK;@9>L=FNGF<A=

K=JJ=DA?AGFK>J=MF<DA;@=FLEGKH@aJ=VOA==KK;@=AFL VFA;@LHJG>ALA=J=F A=:L=ADMF?)7>;9;A@<=K*-!Ed;@L=AF<A=K=J.ALM9

LAGF*JA=FLA=JMF?:A=L=F *JA=FLA=JMF?AF=AF=J5=AL AF <=JNA=D=<A=F=M=0Fe:=JKA;@LDA;@C=ALCGFKL9LA=J=F MF<E9F;@=B=F=EEG<AK;@=F-=D9LANAKEMK9;@K=DRM

;C=F<@MD<A?=F <=JE=AFL E9FCdFF=FA;@LOAKK=F  OG=AF=E<=J&GH>KL=@L  2=FF9DD=NGE*GB7D?3D=F67D)7>;9;A@7@J=<=F EMKK AJ?=F<O=J9M;@9F<=F&GFKME=FL=FK;@MLR<=FC=F G;@OA=KA;@K=D:KLGJA=FLA=J=F A=#AEE=DKJA;@LMF?=F9M>MFK=J=E-=<9CLAGFKCGE

H9KKD9ML=F )""$ -/MF<0)#\)"$" //-&/$1 MF<2 . )/'$# 2AJKAF< )""$ -/ %GMJF9DAKL$FF=F  F?9?A=JLMF< :=LJG>>=F O=ADMFK=J"=?=FKL9F< <A=-=DA?AGF =AF= Ce@D=AKL9FRFA;@LAEE=JRMDaKKL  K?A:L!J9?=F <A= E9F=JKL?9JFA;@LJA;@LA?AF<=FDA;C:=CGEEL O=FF E9FKA;@K=D:KL9MKA@F=F@=J9MK@aDL DK=F?9?A=JL= %GMJF9DAKL$FF=FKAF<OAJB=<G;@0)#\)"$"MF< C=AF=GLK;@9>L$FF=JNGF-=DA?AGF=F 2AJKL=DD=F<=F -=DA?AGF=FC=AF==D=CLJGFAK;@=&9FR=DRMJ1=J>e?MF?  0FK=J=M>?9:=AKL=KNA=DE=@J e:=J<A=1GJ?aF?=9M> <=F&9FR=DF<A=K=J2=DLRM:=JA;@L=FMF<e:=J<A= 

=>AF<DA;@C=AL<=KG<=FH=JKGF9DK &JALAK;@:=JA;@L=F 2AJOGDD=FB=<=-=DA?AGF9FA@J=E0JKHJMF?MF<9E @ME9F=F L@GKE=KK=F &JALAK;@=AKL9FRMF<J=K

H=CLNGDD=)a@=C=FFR=A;@F=FMFK=J1=J@aDLFAKRM<=F -=DA?AGF=F 2AJOGDD=FAF=AF=E(9KK=FE=<AME=J>GD?J=A;@K=AF  #=AZLEd?DA;@KLNA=D=5MK=@=J$FF=F=JJ=A;@=F (d?

DA;@KL@G@= AFK;@9DLRA>>=JFKAF<?=>J9?L A=.M;@= F9;@//-&/$1 )/@=E=FMF<"=K;@A;@L=F :=@=JJK;@L<=F-=<9CLAGFK9DDL9? LLJ9CLANALaL9:=J FA;@LMEB=<=F+J=AK .A;@=JFA;@LME<=F+J=AK<=J/JA

NA9DAKA=JMF?MF<9F9DAKA=JMF?NGF-=DA?AGF =K@9D: :=Ee@=FOAJMFKNA=JL=FKME2 . )/'$#& $/ 2AJ OGDD=FFA;@LFMJ=J?JeF<=F O9K9FCGEEL KGF<=JF 9M;@ OGJ9M>=K9FCGEEL  A=/@=E=FH9D=LL= O9J OA=AEE=J NA=D>aDLA? 2AJ @9:=F<=F+9HKLAF^KL=JJ=A;@AFKJ=;@L='A;@L?=Je;CL MF<?D=A;@R=ALA?NA=D=^KL=JJ=A;@=J$FF=FME.ADF73@ 67@'3BEF?=:=L=F !J=MF<DA;@=MF<O=FA?=J>J=MF<DA

;@= OA<=JKHJ=;@=F<=MF<RMKLAEE=F<=VMF<@9:=F KA=+9HKL=F=<ACLH=JKdFDA;@e:=J?=:=F .;DE;@6 ;E5:A8QHA@67DD7;:7;F7H3@97>;E5:LGE7;@ !7EGE 67D!G67 7I3>FG@6)7>;9;A@ )7>;9;A@G@6+AF3>;F3D;E ?GE "A> E:3:Q67D)344;;EF7;@7D3G *F7D47@?;F G66:3 *5:>7;7DEF3FF$;@;DA5= >3EB:7?;7Q=3@@ ?3@AFF47>7;6;97@@9:=FKA;@EALJ=DA?AdK=F&=JF>J9

?=F:=K;@a>LA? 9Je:=J@AF9MKAFL=J=KKA=J=FMFKV MF<MFK=J+M:DACMEV9M;@/@=E=F<=J+@ADGKGH@A=  L@ACMF<"=K=DDK;@9>L+A67EEFD387Q)_5=83>>;@6;7 3D43D7; >75:FEG@6D;@=EQE;@66;7BA>;F;E5:7@ 67A >A9;7@3?@67 7>63>EAFFG@E7D7D17;FQ"3B;F3>;E ?GE3>E)7>;9;A@ 7D13G47D67E3DDK'AFF7D GF7D *7JQHA?*;@@67DDAF;= 17;FLG97:7@Q3GE7;@7? *F7D47:AEB;L 0F<9F<=J=K 

".%.!)"&+


5</?D?8.;?/<

A=.=F<MF?A=FKL9?  0@J *-! e:=JR=M?LEAL<=F'=AL:=?JA>>=FXCJA

LAK;@=AKL9FRSMF<XJ=KH=CLNGDD=)a@=SMF<N=JKL=@LKA;@9DKBGMJF9DAKLAK;@= FLOGJL9M><=FRMF=@E=F<=F*JA=FLA=JMF?K:=<9J>AF<=F=J=A;@=F)7>;9;A@ MF<F:;= =J(9JCL>eJ.AFFN=JEALLDMF?MF<'=:=FKGJA=FLA=JMF?:GGEL AE

E=Jd>L=J9M;@9:K=ALK<=J=L9:DA=JL=F&AJ;@=FMF<-=DA?AGFK?=E=AFK;@9>L=F  =FF>eJNA=D=<=J5MK=@=J$FF=FKAF<-=DA?AGFMF<-=DA?AGF=FNGFMF=JK=LR:9

J=J=<=MLMF? 

OMJ<==D7GLG@6CG7D9M> (AFML=FN=JDaF?=JLMF<<=J.=F<MF?K:=

?AFF9M> 0@JNGJN=JD=?L 2A;@LA?=.=F<MF?=FAE%9@J

O9J=FM 9  <A=GCME=FL9LAGFMF<AKCMKKAGFRME3>>![97DEF[FF7DMF<9MKFD9KK<=K +:7?7@E5:I7DBG@=FD@[:DG@9<A=GCME=FL9LAGF+A6E_@67-^>>7D7; A=B:;>AEAB:;5G? "=KHJa;@=:=@9F<=DF/@=E=F<=J5=ALEAL<=EFKHJM;@  #AFL=J?JeF<=MF<KHAJALM=DD=AE=FKAGF=F9M;@?=?=F<=F9CLM=DD=F5=AL?=AKL KA;@L:9JRME9;@=F (=@J$F>GJE9LAGFMFL=JD7>;9;A@ &) 3F

   =+'.(#.6

'.+)+10+/

<3/8>3/<?81

&D;7@F;7DG@9 AKL <9K X<A=FKLaDL=KL=S !=JFK=@E9?9RAF <=K *-! MF< K=D:KL K;@GF=AF.Le;CJ=DA?AdK=MF<CAJ;@DA;@=5=AL?=K;@A;@L=  KKL9JL=L= MF< >=A=JL=AE#=J:KL:=J=ALKK=AF=

MK?9:= #A=J=FLOA;C=DL=KA;@e:=J =AF1A=JL=DB9@J@MF<=JL<=JEG<=JF=MF<MF9:@aF?A?=dKL=JJ=A;@AK;@=-=DA?A

GFKBGMJF9DAKEMK 9K*-! /1 -=DA?AGFKE9?9RAF&D;7@F;7DG@9:=JA;@L=L9E .GFFL9?RM(ALL9? 0@J *-! e:=J#AFL=J?JeF<=MF<9CLM=DD= J=A?FAKK=9MK<=F2=DLJ=DA?AGF=F 

KL9F<=F<A=+JG:D=E=<=JD;FF7@ .7>FMF<<=J'3BEF47EG5: 9:=J9M;@DDL9?K>J9?=FOA=<A=<=J*A@@F39E 3D47;FAE(ALL=DHMFCL

38>/<1<?8.3-2>928/7/389:0>?-2G $2/7/8+,/8.S,/<./8=6+7+7#/:>/7,/< 9K .Le;C .LG @9L AF <=F ?=K=DDK;@9>LDA;@=F MF< HGDALAK;@=F AKCMKKAGF=F =AF=:=KGF<=J=.L=DDMF?=AF?=FGEE=F <A=FA;@LRMD=LRL9M;@G>LKL=DDN=JLJ=

L=F<>eJ<A=+JG:D=E=?=>e@JLO=J<=F <A=<MJ;@>J=E<='=:=FK>GJE=FAF M

JGH9MF<^KL=JJ=A;@=FLKL=@=F A=GCME=FL9LAGFNGF9J:9J9&J=FFO9J> <A=!J9?=F9;@<=E&=JFB=<=K-=;@LKKL99L=KV/J=FFMF?NGF.L99LMF<-=DA?A

GFV9M>MF<N=JKM;@L=RMCDaJ=F OA=KA;@L:9J-=DA?AGKALaLMF<MKe:MF?<=J AKD9EAK;@=F-=DA?AGFAF MJGH9K=AF<9J> =D7GLG@6CG7D>J9?L=AF<=EJMF<

EAFeLA?=F!ADEF9;@(GLAN=FEMKDAEAK;@=J&GH>LM;@LJa?=JAFF=FAF^KL=J

J=A;@ <A=KA;@:=OMKKL>eJ<A=K==CD=A<MF?K>GJE=FLK;@A=<=F@9:=F

"/63139838K

763@=7@8_D67@+39E9;@=FKA;@(GFL9?:AK.9EKL9? 0@J9E.GFFL9?3E7H3@97>;E5:7.ADFNGJ <=E(GJ?=FBGMJF9DMFL=JK;@A=<DA;@=+=JKdFDA;@C=AL=F #A9AE:=K;@a>LA?LKA;@B=<=F.9EKL9? V  0@JEALL@=GDG?AK;@=FMF<=L@AK;@=F!J9?=F 'D3J;EOA<E=L=AF=@9D:=.LMF<=Od;@=FLDA;@(GFL9? 

V  0@J<=J?=K=DDK;@9>LDA;@=F=<=MLMF?<=J-=DA?AGF=F )7>;9;A@3=FG7>>:A=L=LOG;@=FL9?K V

 0@J>eF>(AFML=F=AFK;@Da?A?=)=OK +3AR=A;@F=L9F!=A=JL9?=F V 0@JMFL=JK;@A=<DA;@=2=?= <=J.AFFKM;@=F9;@ #A?@DA?@LK9MK<A=K=F.=F<MF?=FO9J=F

 $7;@ )7;5: ;EF HA@ 6;7E7D .7>F Q >47DF 3?GE G@6 63E :D;EF7@FG?  RME   %9@J=KL9? <=K )G:=DHJ=AK=K  -7D4AF7@7D_5:F7HA?3G?67DD=7@@F@;EVe:=J<9K1=J@aDLFAKNGF)9LMJOAKK=FK;@9>L=FMF< L@AC .;7 -7DIG@6G@9:7;>FG@6D7;:7;FI[5:EFQ);5:3D6)A:DG@6E7;@.7967D @;F;3F;A@;@E$7@E5:E7;@  


B(('06.+%*-'+656#66"+'.)4722'0

G<6P<<.772,1= ./5.A.*70.<9;8,1.7>7-*><0.7P=C= @.;-.7<87-.;7.<6><<C>;O052,14.2=-.; ./5.A2 87*70.;.0=@.;-.7#7--.<1*5+<27-O//.7=52,1 ;.,1=52,1..5.4=;872<,1..-2.7<8@2,1=20D

&+".,/"+".$  <.#1+( -"6&)-.,$.**"

%=<=K.=E=KL=JN=JKM;@=A;@F=M=F.LM<A=J=F<=F<9K 2=K=F<=K(=<AMEK)36;AFa@=JRM:JAF?=F A= "=K;@A;@L= <=F5OA=KH9DLROAK;@=F0FL=J@9DLMF? MF<$F>GJE9LAGF <=F.eF<=F>9DD<=J+JGH9?9F<9  0F<AEE=JOA=<=J?=@L=KME<9K5A=DX^>>=FLDA;@C=AL @=JKL=DD=FS 9KE9??MLMF<K;@dFK=AF <A=!J9?= :D=A:L9:=JOG>eJ ^>>=FLDA;@C=AL@=JKL=DD=F>eJ2=J:=CMF<=F <A=OG@D

9:?=H9;CL=#dJ=J$FF=F?JMHH=F9DK+9C=L=NGFMFL=J

K;@A=<DA;@=FCGEE=JRA=DDGJA=FLA=JL=F.=F<=JF?=DA=

>=JL:=CGEE=F G<=J9:=JKGDD>eJ?=K=DDK;@9>LDA;@= 1GJ?aF?=^>>=FLDA;@C=AL?=K;@9>>=FO=J<=F <A==JKL =EGCJ9LA==JEd?DA;@=F O=ADFMJ=AF=OG@DAF>GJ

EA=JL=^>>=FLDA;@C=ALOAJCDA;@HGDALAK;@= FLK;@=A<MF

?=FLJ=>>=FC9FF MFAF>GJEA=JL=(=FK;@=F@AF?=?=F =@=JFMJJ=>D=P9JLA? KL=J=GLQH=F9:@aF?A? FLK;@=A

<MF?=FLJ=>>=FCdFF=F =K@9D:KAF<(=<A=F <A=AFd>>=FLDA;@=E$FL=J=KK= 9J:=AL=F MF<=EGCJ9LA=MFLJ=FF:9JEAL=AF9F<=J N=J:MF<=F A=K@9LRMFa;@KLFA;@LK<9EALRMLMF OA=<A=K= (=<A=FGJ?9FAKA=JLKAF<%=<=F>9DDKKGDDL=FKA=AFA@J=J =JA;@L=JKL9LLMF?KL99LK>=JFK=AF <=E+M:DACMEKGDD

L=FKA=E=@JN=JH>DA;@L=LK=AF9DK<=F&9HAL9D?=:=J$F

F=F >J=AKGDDL=FKA=K=AF MFL=J9F<=J=EAF<=E .AFF= <9KK<A=(AL9J:=AL=J$FF=F>J=A:=JA;@L=FCdF

F=F &GEE=FL9JMF<=JA;@LKGDDL=FMFL=JK;@=A<:9J K=AF 2=J:MF?9DKKGD;@==JC=FF:9J 2A=?=K9?L  <9K@9LFA;@LKEAL<=J*J?9FAK9LAGFK>GJERMLMF KGF

<=JFEAL<=J,M9DALaL<=KB=O=ADA?=F(=<AMEK 2AJFa@=JFMFK<=J!J9?=<=KX2=JL=K>eJ<A=^>>=FL

DA;@C=ALS MF<<9KE9;@L&JAL=JA=FCD9J F9;@<=F=F (=<A=FRM:=MJL=AD=FKAF< DK%GMJF9DAKL <=JNGJ 9DD=E>eJ.=F<MF?=FAE+JG?J9EE^RMKLaF<A?AKL  

@9:=A;@=KAF<A=K=E+MFCLD=A;@L #A=JEMKKFA;@L NA=D9J?ME=FLA=JLO=J<=F O9JME^2=JL>eJ<A= ^>>=FLDA;@C=AL@9L <A=B9@J=D9F?=M>OaJLK=FLOA;C

DMF?:=KLaLA?L<A=K=K&MDLMJ MF<$F>GJE9LAGFKHJG

?J9EERMKaLRDA;@ AEE=JOA=<=J<A=FL=KRMJX"=:e@

J=FD=?ALAE9LAGFS<=K*-!  .G9:=JOAJ<<A='=?ALAE9LAGF9:KGDMLMFNGDDKLaF<A? ?=K=@=F FaEDA;@NGF<=J+JG<MCLK=AL=MF<FA;@LNGF <=J.=AL=<=J#dJ=JK;@9>L)9LeJDA;@:J9M;@L=AF=?=:AD

<=L= HGDALAC MF<CMDLMJAFL=J=KKA=JL="=K=DDK;@9>L=AF +JG?J9EEOA=^ 9:=J>eJ<A==EGCJ9LA= >eJ<9K 2=;@K=DKHA=DNGF^>>=FLDA;@C=ALMF<+GDALACKAF<+JG

?J9EE=>eJ<A=?=K9EL="=K=DDK;@9>LFGLO=F<A? <A= Ed?DA;@KL9DD=2a@D=J$FF=FMF<K=D:KL<A=)G;@ FA;@L

2a@D=F<=F9FKHJ=;@=F 9EeKK=F<A=?=K=DDK;@9>LDA

;@=FAKCMJK=N=JD9M>=F EMKKAF>GJEA=JLO=J<=F =FFK;@GFAFA@J=J/J9<ALAGF@9:=F+JAFLE=<A=FMF< =D=CLJGFAK;@=(=<A=F?J9NA=J=F<=0FL=JK;@A=<=.L=

@=F5=ALMF?=FE=@J@=ALDA;@AF<=J/J9<ALAGF<=JM>

CDaJMF?MF<<=K&9EH>=KME<A=+J=KK=>J=A@=AL  @9:=F<A==D=CLJGFAK;@=F(=<A=FVOA=K;@GF9F?=

<=ML=LV=AF=NdDDA?9F<=J=/J9<ALAGF "A:L=KAE+JAFL

:=J=A;@>J9?DGKR9@DJ=A;@=E9JCLGJA=FLA=JL=,M9DALaLK

R=ALMF?=F KGKAF<=KAE=D=CLJGFAK;@=F=J=A;@ RMEAF<=KLAF MJGH9<A=d>>=FLDA;@ J=;@LDA;@=F+JG

?J9EEHJG<MR=FL$FF=F <A=<A=,M9DALaLKE9ZKLa:= ?=K=LRL@9:=FMF<FG;@AEE=JK=LR=F K;@DA=ZDA;@AKL @A=J<9KGFEGLMFOA<=JD=?L&GEE=JRA=DD=F:A=L=J :J9M;@=F+JG?J9EE=ME"=D<RME9;@=F d>>=FLDA;@

J=;@LDA;@=:J9M;@=F"=D<ME+JG?J9EERME9;@=FV <9EALKA=>eJ<A=?=K9EL=^>>=FLDA;@C=AL<9K=AFCdF

F=F >eJ9DD= <A=9F<=J=EGCJ9LA=L=AD@9:=FKGDD=F

&+".,/"+".$


G 1)/76)4

A=.=F<MF?.9EKL9?  V 0@JAKLEALRME/=ADe:=J<A=?aF?A?==A

LJ9?KDaF?=@AF9MKJ=A;@=F<=F!=9LMJ= GCME=FL9LAGFK MF<"=KHJa;@KH9K

K9?=F9MK?=KL9LL=L A=E=@J>9;=LLA?=M>9J:=ALMF?=AF=KK=EA 9CLM=DD=F /@=E9K =AF=J.L9<LG<=J=AF=J+=JKGF:A=L=F<=F#dJ=J$FF=F=AF=AF<ANA<M=D

D=MK=AF9F<=JK=LRMF?EAL<=EB=O=ADA?=F/@=E9 !=JF=JOAJ<CLM=DD=K9MK +GDALAC &MDLMJ (MKAC EG<=JF=E'=:=F +@ADGKGH@A=MF</@=GDG?A=?=:GL=F   ?AF?=KMFL=J9F<=J=E@aM>A?ME"=D<"ADDGBF;A@!767D;EF=[G8>;5:  D?GF*5:;5=E3>*5:3@67*5:G>6 )7;5:FG?D?GFI3D97EF7D@

38>/<1<?8.3/+81/+-2>./<?=//838K +JG:=DA=?=FAE A;@=FK9J?C9FFE9FAE2A=F=J=KL9LLMF?KEMK=ME AE/AJG

D=J.;@O9RC9FFE9FKA;@e:=J<A=F>aF?=<=K.CAD9M>KAF>GJEA=J=FMF<AE 2=AFEMK=MEAF AK=FKL9<L?9:=K:=KLAEEL=AFA?=KRME&GKL=F $EE=JE=@J CD=AF=(MK==F <A=AEDDL9?G>Le:=JK=@=FO=J<=F FMLR=F<A=#3@97%35:F  ME9M>KA;@9M>E=JCK9ERME9;@=F 0F<<9K+M:DACMEFAEEL<9KNA=DK=ALA?= F?=:GLEALO9;@K=F<=E$FL=J=KK=9F (=@J9DK

^KL=JJ=A;@=J$FF=F :=KM;@L=FAE*CLG:=J (MK==F $F^OMJ<==AF='AN= .GF<=JK=F<MF?EAL =JA;@L=F MF< .R=F=J=HGJL9?=F 9MK 9DD=F MF<=KDaF<=JF 9MK?=KLJ9@DL  <A= 9M;@9M>A7

&) 3FRME)9;@@dJ=F9F?=:GL=FOMJ<=

   =+'.(#.6    ='4#06914670)

#&+1+'.(#.6

"766<)/;15G &-+3-:

%=<=F.GFFL9?ROAK;@=F

MF< 

0@JCdFF=F<A=^ #dJ=J$FF=FXA@

J=FS-=DA?AGFK:=ALJ9?N=JF=@E=F M;@9F<=F!=A=JL9?=F *:<A= "=:GL=  G:$FL=JNA=OKEAL.HGJLD=J$FF=Fe:=JA@J=F"D9M:=F G:<A=J=DA?AdK=F#AFL=J

?JeF<=<=J!MZ:9DD 2( G: AFKL=AFKX"GLLOeJ>=DLFA;@LS "=:MJLKL9?$F>eF> (AFML=F OAJ< AEE=J OA=<=J <=J 1=JKM;@ MFL=JFGEE=F  <=F N=JK;@A=<=F=F -=DA?AGF=F<=J2=DL=AFO=FA?Fa@=JRMCGEE=F

G -@<:)

A=-=A@=AKL=AFN9JA9:D=K!GJE9L <9KKA;@KL=LKNA=DK=ALA?MF<FA;@LK=DL=F F9;@@9DLA? HJaK=FLA=JL  A= 9F<:J=AL= J=A;@L NGF !=9LMJ=K e:=J "=KHJa;@= :AK@AFRMGCME=FL9LAGF=F $E-9@E=F<=J.=F<MF?.9EKL9?  V

 0@J O=J<=F @9MHLKa;@DA;@ (ALK;@FALL= 9MK <=E)36;A"G>FGD:3GE ?=:J9;@L  >9DDO=AK=<A=FLKA=9:=J9M;@9DKG>>=F=.=F<=>Da;@=>eJ9DD=:L=ADMF?=F<=K #9MK=K 

?9DL=AF.;@O=JHMFCL<=J=A?=F=F"=K;@A;@L=1A=J.=F<MF?=F e:=JNA=J%9@JR=@FL=^AE*CLG:=JAE-9@E=FNGF !3:D7X ?=KL9DL=LNGF -A;@9J<"GDD

G 75-6<D-*-60-=<-

=J &MDLMJK=F<=J :A=L=L NGF (GFL9? :AK !J=AL9? ME  0@J =AF= 9CLM=DD= MK=AF9F<=JK=LRMF?EAL<=EX:=FL=M=JDDL9?SAF<=FN=JK;@A=<=FKL=F'=

:=FK:=J=A;@=F EAL NA=D=F (d?DA;@C=AL=F RMJ $<=FLA>AC9LAGF EAL <9J?=KL=DDL=F +=JKGF=F  A= /@=E=F KLJ=;CL=F KA;@ NGFD3G7@ ;@ 67D 3G4D3@5:7 :AK @AF RM=AF=J=LJ9;@LMF?<=J^EF7DD7;5:;E5:7@%35:43DE5:38FE47L;7:G@97@ 

 KL9F<=FMFL=J9F<=J=E/@=E=FOA=>7;5:47:3@6>G@9MF<-7DE5:G>6G@9HA@ BD;H3F7@3GE:3>F7@AE(ALL=DHMFCL 


+'.(#.6+/'524C%*

G7/8;62.;.7*7*5B<2.;.7-2//.;.7C2.;.7E*6+.<=.7 27-.66*7.=;8//.7.4=.>;77.7>7-A9.;=77.7 C>;/;.2.787/;87=*=28721;.;!=*7-9>74=.0.0.7 P+.;<=.55=E<84*77-.;#).27.7.2=;*0C>6 4;2=2<,1.7>7-/;.2.7.74.75.2<=.7D

,."+6 ))*"06". 

DK<A="=K;@a>LK>e@JMF?<=K*-!AE.GEE=J  :=K;@DGKK <=FD=?=F<aJ=F>G4OA=<=JRM:=D=:=F  ?9:=KNGFN=JK;@A=<=F=F.=AL=F5O=A>=D 5O=A>=D G: <A=K=!GJE<=JAKCMKKAGFKK=F<MF?FG;@R=AL?=EaZ K=A G:<A=K=K!GJE9LAE2=LL:=O=J:EAL<=FVKL9JC 9M><A=+=JKGF=F<=J(G<=J9LGJ$FF=FRM?=K;@FALL=

F=FV/9DCK=F<MF?=F<=J<=MLK;@=F&GFCMJJ=FRK=F

<=J:=KL=@=FCdFF= G:<9K+M:DACME=LO9KKGRMK9

?=FXM>?=OaJEL=KS9M;@9FF=@E=FO=J<=

<=MLK;@=.=F<=JMF<CdFF=FROAK;@=F=:=FKGNA=D=F AKCMKKAGFKK=F<MF?=F9MKOa@D=F "=:GL=FOAJ<9DD=K 1GE.==D=F .LJAHL=9K=MF<-=9DALQ /9DCe:=J+GDAL AK

CMKKAGF=F 'AL=J9LMJ<=:9LL=F:AKRM-=DA?AGFK MF<+@A

DGKGH@A= AKCMKKAGFK>GJE9L=F

:=J?=J9<=O=ADOAJ@=ML=NGF=AF=JH=JE9F=FL=F $F>GJE9LAGFK>DMLe:=JJGDDLO=J<=F C9FF=AF=.=F<MF? OA=<=J#,=AF=O=JLNGDD=M>?9:=AEd>>=FLDA;@

J=;@LDA;@=F!=JFK=@=F=J>eDD=F 9K+JG:D=EAKL@=ML

RML9?=FA;@LE=@J<=J(9F?=D9FAKCMKKAGFK MF< .;@GF<A==JKL=F.=F<MF?=F@9:=F?=R=A?L <9KK<A= .=D:KL<9JKL=DDMF?KHD9LL>GJE=F9M;@>eJ=AF>9;@=eJ

-=;@FMF?9M>?=?9F?=FAKL 9K5MK=@=JAFL=J=KK=O9J MF<AKL?JGZ <A=-=9CLAGF=FO9J=F?JdZL=FL=ADKHGKALAN ?=J$FF=FG<=J?=OAKK=(AF<=J@=AL=F 29K@=ML=NA=D K;@OA=JA?=JRM?=Oa@JD=AKL=FAKL <9KAKL<A=,M9DALaL :AKCJALAK;@ HGKALAN A=.QEH9L@A= <A=<=E#,9DK (9JC==FL?=?=F?=:J9;@LOAJ< @9LMFK9DD=e:=JJ9K;@L  <=K"=:GL=F=F 9K#9MHL9FDA=?=F<=KF=M=F#, $F%9@J=FAKL<=JX9DL=>G4SRME(QL@GK?=OGJ<=F AKL<=K@9D:<9KCJALAK;@=MF<>J=A==FC=F &JALAK;@=K MF<RM?D=A;@RMEA<=FLALaLKKLA>L=F<=FMK@aF?=K;@AD< MF<>J=A=K=FC=F <9K<=F5MK=@=J$FF=F@=D>=FKGDD  <A=9M>MFKFA=<=JHJ9KK=DF<=$F>GJE9LAGFK MF< <=K*-! A=D=?=F<aJ=AKCMKKAGFKK=F<MF?@9LNGF KL9JC=F+=JKdFDA;@C=AL=FV+=L=J#M=E=J "eFL@=J)=F $EHMDK>DMLRM:=OaDLA?=F KA;@AFA@JRMJ=;@LRM>AF<=F  KA=RM9F9DQKA=J=FVMEKA;@K;@DA=ZDA;@=AF=9MLGFG

FAF? D>J=<#GDDG<=JP=DGJLA MEFMJ=AFA?=RMF=F

E=(=AFMF?:AD<=FRMCdFF=F =K@9D::=Ee@=FOAJ F=FV?=D=:L 5M?D=A;@O9J<=J>G4=AF=AFFGN9LAN=  MFK:=A<=JMKO9@D<=J/@=E=FMF<NGJ9DD=E:=A ;GMJ9?A=JL=+AGFA=JD=AKLMF? <A=X(MLL=J9DD=J/9DC

.@GOKSAE<=MLK;@KHJ9;@A?=F/1?=OAKK=JE9Z=F .=AF <=J AFD9<MF?<=J"aKL= +GKALAGF=FAE#,N=JLJ=

L=FRM@9:=F <A=?=?=FHD9LL=1GJMJL=AD=9FCaEH>=F #9MHLC=FFR=A;@=FO9J<9K>J=A=2GJL 'AN=MF<EAL *H=F F< <9EALB=<=J"9KL9MKJ=A;@=F<5=AL@9L K=AF= MF<<=E(9AFKLJ=9E =FC=F A?=FKLaF<A?=K=FL?=

?=F@9DL=F  J?ME=FL=<9JRMD=?=FMF<FA;@LK?=KLJA;@=F XR=FKM

$F>GJEA=J=F 9F9DQKA=J=F <A>>=J=FRA=J=FV9E:=KL=F JA=JLSO=J<=FC9FF !eJ<9E9DKJ=NGDMLAGFaJMF<<=E AF<=EE9F=LJG>>=F= CL=MJ$FF=FMF< PH=JL$FF=F "=AKL<=J =J%9@J=?9FR=FLKHJ=;@=F< C9E=FAE RMJ>J=A=F&GF>JGFL9LAGFA@J=J.L9F<HMFCL=?=?=F

>G49M;@9DD<A=B=FA?=FRM2GJL <=F=FKGFKLC9ME =AF=+D9LL>GJEAF<=F(=<A=F?=:GL=FOMJ<==AF>9;@= e:=JKL=DDLVKGC9FF<=J#,=AF=F=ALJ9?RMECJA

LAK;@=FMF<>J=A=F=FC=FD=AKL=F 0F<EeF<A?=eJ

'=ML= MZ=FK=AL=J AKKA<=FL=F (AF<=J@=AL=FV ?=J$FF=FKAF<B9:=C9FFLDA;@<A=9KAK=AF=J>MFCLAG

MF<9MK>e@JDA;@$FL=DD=CLM=DD= FA=J=F<=F=EGCJ9LA=  =JOA=<=J:=D=:L=#,KL=@L@=ML=F9LeJDA;@=AF=E NGDDCGEE=F9F<=J=F0E>=D<?=?=Fe:=J  +JGR=FL <=JdKL=JJ=A;@AK;@=F#9MK@9DL==EH>9F?=F<MLR=F<= ,."+6 ))*"06". 


$

E =R=E:=J O9J=KKGO=ALVF9;@E=@J9DKROdD>%9@J=F+9MK=<AKCM

LA=JL=FAE#,(ALLOG;@  *-!OA=<=J"aKL= 9KF=M=/GH /9DC

!GJE9L<=K*-!KL=DDL<=FFKHJM;@ NGJ?=>=JLA?L=MF<<GEAFA=J=F<=(=AFMF?=F KGOA=&DAK;@==KRM@AFL=J>J9?=F AKCMLA=JLO=J<=F?=K=DDK;@9>LKHGDALAK;@=/@=

E=FG@F=/9:MKVDAN=MF<EAL*H=F F<

S7D#,EF7>>F7;@767GF>;5:7GEI7;FG@9G@E7D7E+3>= @974AFE63D  5:I_@E5:7?;D63EE67D#,7;@77EBD[5:E4_:@78_D63E;@F7>>7=FG7>>7 XEF7DD7;5:I;D6 ;@7_:@73G867D3>>7EI;D=>;5:3>>7E?^9>;5:;EFI3EG@E 67D)3:?7@67E&) 7E7FL7E97EF3FF7FN

)*.".%1/". +#,.*0&,+/!&."(0,.

   =+'.(#.6    ='4#06914670)

'524C%*'%*+%-5#.''05%*'0+/

5"+0)=84)<B

?*5:3GB>3FL@9LKA;@RM=AF=JMFN=JO=;@K=D:9J=F*-! (9JC==FLOA;C=DLMF< e:=JKA=<=DL

9M>=AF=F>Je@=J=F.=F<=HD9LR9E!J=AL9?ME  0@J  )=:=F-=<9CLAGFKD=AL=J@JAKLA9F.;@eDD=JKAF<9;@L-=<9CL=MJ$FF=F<9JME:=

Ee@L EAL<=JFdLA?=F!=AF>e@DA?C=AL 9:=J9M;@EAL<=JFGLO=F<A?=F+JaRAKAGF MF<.;@aJ>=<A=+JG:D=E=MF<'=:=FKD9?=F<=J(=FK;@=FMF<.M:CMDLMJ=F MFK=J=K'9F<=K=AFRM>9F?=F =E=JC=FKO=JLO9J=F

M 9 <A=-=HGJL9

?=e:=J-7D4AF7@7#;747 &AF<=JNGF=K9LRMF?KKGD<9L=F9M><=J.M;@=F9;@ A@J=F1aL=JF MF<+DAFL3>>7?7;?I7:e:=JBe<AK;@= PADdKL=JJ=A;@=J$FF=FAF J?=FLAFA=F #=DEML(9FFAF?=JMF<+=L=J'AKC9=J@A=DL=F?=E=AFK9E<=F  !AGD@3>;EF @@7@BD7;E67E;>8EI7D=E (9FFAF?=J=J@A=DL<A=MKR=A;@FMF?>eJ K=AF=-=HGJL9?=%35:978D39F$3963G817;F 'AKC9>eJ*F3D=7D3G7@

38>/<1<?8.$2/7/8=-2A/<:?85>38./< L,/<6/,/8=5S8=>6/<37#>88+38./<=:3>+6

&AF<=J <A=9F&J=:KD=A<=F OGDD=FFMJ=AF=Ke:=JD=:=F .A=OeFK;@=FKA;@ <9KK<A=5=AL=AF=F.HJMF?E9;@L MF<<9KK<=J.;@E=JR=F<DA;@NGJ:=AAKL 9:=AEeKK=F<A=E=AKL=FNGFA@F=F:AKRM=AF=E%9@JAE.HAL9D:D=A:=F MF<G>LIM9DNGDD==@9F<DMF?=F<MJ;@KL=@=F 9KHKQ;@GKGRA9D=/=9E<=K*F @@3 ";@67DEB;F3>E@AD>LEAL +KQ;@GL@=J9HA= (MKACMF<.==DKGJ?=9MK<=J&JAK=MF<O=AZ&AF<=JFOA=F?=@dJA?=FRM@=D>=F A=F=MFBa@JA

?=)AF9=JRa@DLNGEX(GFKL=J&J=:KSAFA@J=FD:LJaME=F <A=%M?=F<DA;@=F.=:9KLA9FMF<.L=H@9F<9NGF OA==K AKL KLaJC=J9DKKL9JCK=AFRMEeKK=F 29JMEV>J9?=FKA;@(eLL=JOA=+9KIM9D=MF<O=J<=FRGJFA?V@9L"GLLFA;@L 9M>?=H9KKL&AF<=J <A=&J=:Ke:=JD=:L@9:=FMF<<A=>GJL9FEAL<=JF?KLD=:=F =JCdFFL=OA=<=JCGEE=F KAF< :=KGF<=J= &AF<=J  AF !ADE e:=J <A= 2=DL CD=AF=J MF< ?JGZ=J _:=JD=:=FKCeFKLD=J EAL <=J A9?FGK= &J=:K           CJ=MRMF<IM=J  *CLG:=J 

?1-*1<<-

A=1A=D>9DL<=KDDLa?DA;@=FOAJ<K=AL

NGF N9+dDRDHJaK=FLA=JL 9K(9

?9RAFK=LRL=KA;@RMFa;@KLLa?DA;@AE1GJ9:=F<EAL?=K=DDK;@9>LDA;@=F/@=E=F MF< /J=F<K 9MK=AF9F<=J MF< AKL 9M> MFL=J@9DLK9E= 2=AK= <=F +@aFGE=F=F <=KLa?DA;@=F'=:=FK9M><=J.HMJ .=AL<=E%9@J=KO=;@K=DOAJ<<9K(9?9RAF Od;@=FLDA;@A=FKL9? ;9  0@J *-!9MK?=KLJ9@DL 


+'.(#.6<C*.6

G@255.7<=.;C>;%.5=<.27-2.584*5.;.*=2?2=N= /O;-.;7>7-C>05.2,1487/;87=2.;.7D

.0&+)1*"+1



9K.;@dF=9F<=JEALLD=JO=AD=?=JF=N=JCDaJL=F"JeF

<MF?K?=K;@A;@L=<=K-9<AGK=F<=JK!(AKL <9KKKA;@ <A=R=FLJ9D=F+MFCL= <A=<9E9DK 9MKK;@D9?

?=:=F<<9>eJO9J=F <9KKKA;@=AFH99J-9<AGE9;@=

J$FF=F <A=>=KL9F<A==<=MLMF?NGF9CLAN?=D=:L=J %M?=F<CMDLMJ?D9M:L=F >eJ=AF?9FRKH=RA=DD=K+JG

?J9EERMK9EE=F>9F<=F KHaL=J9M;@9DK<A=O=K=FLDA

;@=F!9CLGJ=F>eJ<A=.AFF@9>LA?C=ALNGFd>>=FLDA;@

J=;@LDA;@=E-MF<>MFC=FLHMHHL=F 29K:=A!(NGJ %9@J=FFG;@AFK;@O9EEA?=F=?JA>>=FOA=X.AFFKLA>

LMF?SG<=JX#=JR=FK:AD<MF?SRMK9EE=F?=>9KKL OMJ<= @aDL@=ML=9DKX)9;@@9DLA?C=ALSG<=JX+M:DA; 19DM=S AFRM?AF<=F(=<A=F (9AFKLJ=9EVMF<>AF<=L  F9;@<=E=KB9@J=D9F?9DK9N9FL?9J<AKLAK;@=J'MPMK ?=@9F<=DLOMJ<= EALLD=JO=AD=9M;@<A=N=J<A=FL= =9;@LMF?

MF=JJ=A;@:9J=K(MKL=J:=AKHA=D=AF=K%M?=F<E=<AMEK  >eJ.3>>B3B7D J>AF<=J/QD=JJMD=AKL=K<=JMFN=JRA;@L

:9J==MJGHaAK;@='A=:DAF?KK=F<=J AKL<=E9M;@F9;@ e:=J=AF=E%9@JR=@FLMF:==AF<JM;CL=F5M?9F?<=J (G<=J9LGJ$FF=F -=<9CL=MJ$FF=FRMN=J<9FC=F <A= /@=E=FMF<<=J=F=@9F<DMF?FA;@L9DKJ=AF=F%G: :=LJ9;@L=F KGF<=JF9DK#=JR=FK9F?=D=?=F@=ALMF< 9M;@9DK=AFOA;@LA?=K.Le;C#=AE9LVKGOA=<9K@=ML= :=A<=FF=M=F(=<A=F <=F2=: GEEMFALA=K 9DDK=ALK 0KMKAKL *<=J9M;@VME@A=J=AF@d;@KL9DLEG<AK;@=K 2GJLRMN=JO=F<=FV9DKR=AL?=EaZ=X1GDCK:AD<MF?S

MK<=J!( $FF=FKA;@LAKL<A=AKCMKKAGFMEd>>=FLDA;@

J=;@LDA;@=KH=CL==AF=G>>=F=MF<NGF=AF=E?D=A;@

OG@DLJ=M=FMF<CJALAK;@=F+M:DACMENA=D>9;@=AF?=J9FF

L=/eJ :=J9MK<=J!( $FF=FKA;@LAKL9M;@<A=?=JF ?=H>DG?=F=MZ=FO9@JF=@EMF? <9KK=KKA;@:=AE 9KaMZ=JLKA;@<9JAF OA=!(=LO9B=<=K=AFR=DF=<=J +M:DACMEMF<:=A<=FJ=<9CLAGF=DD:=@9F<=DL=F$F@9DL=F ?=KHA=DL=FMF<KGJ?>aDLA?9MK?=Oa@DL=F(MKACKLe;C= ME=LO9K#GEG?=F=K@9F<=DL =AFO=FA?K=DLK9E M;@ O=ADKA=<=FKGFKLOGFAJ?=F<K?=O9?L=F.H9?9LROA

9DKHGHCMDLMJ=DD=K.L9L=E=FLN=JKL=@LG<=J<9KK!( K;@=F<=FAFA@J=JAN=JKA>ARA=JMF?MF?=E=AFK;@O=JRM KA;@?D=A;@R=ALA?9DK-=>D=CLGJMF<9DK+G<AME>eJ<A= >9KK=F<=FMF<FG;@K;@O=J=JRMK9EE=FRM>9KK=F<=F @=AEAK;@=+GHMD9JCMDLMJN=JKL=@L 9DKG+JaK=FL9LAGF MF<CJALAK;@==LJ9;@LMF?N=J:AF<=L 9KKAE%9@J

 .M: .R=F=FMF< "=FJ=K<9EAL9DK=LO9K'=A;@L=K@AF

KL=DDL OG<G;@<9KCJ9KK="=?=FL=AD<=J!9DDAKL <A=EALLD=JO=AD=K=D:KLN=JKLaF<DA;@= AF:AF<MF?NGF =F?DAK;@KHJ9;@A?=F$F@9DL=F<9RMC9E H9KKLAFKAD< !(OADD!=FKL=JRMJ2=DLK=AF <A=DGC9D=&J=9LANALaL>dJ

A=9JKL=DDMF?CJ=9LAN=J1A=D>9DLAKL KG>=JFE9FKA= FA;@LE=<A9D9MK:=ML=FEd;@L=G<=JFMJ<9FF:=D=M;@

<=JFMF<RM?D=A;@CGF>JGFLA=J=F <9EALKA=FA;@LAE L=L O=FFKA=KA;@RM>aDDA?9M><=F.;@9MECJGF=F<=J =A?=F=F.9>L=JLJAFCL !(KLJ=:LFA;@L<=FCMJR>JAKLA

(9AFKLJ=9E 2=DD=F:=>AF<=L =AF=<=DAC9L=MF<@d;@KL ?=F&A;C9F KGF<=JF<=FD9F?>JAKLA?=FM>:9M K;@OA=JA?=F?=D=?=F@=AL >eJ<A==KAEE=JFG;@<=F 9KK<A=K9DD=K>MFCLAGFA=JL <9KK!(NGF<=F@=AEA

K;@=F.R=F=FAF(MKAC !ADE =KA?F (G<= $/G<=JNGF 2ADD=FRM.AFFKLA>LMF?MF<<=F AFK9LRNGF#=JR:DML .;@eD=J MF<.LM<=FL=FN=JLJ=L=J$FF=FEALLD=JO=AD=9DK :J9M;@LV?9FR=?9D OA=E9F<A=K=2=JL=?=J9<= K=D:KLN=JKLaF<DA;@=J+9JLF=J:=@9F<=DLOAJ< MF<<9KK :=F=FFL =K<=E.=F<=J9M;@?=DAF?L e:=J^KL=JJ=A;@@AF9MK .LJ9@DCJ9>LRM=FLOA;C=DFAF=MLK;@D9F<?ADL!(9DK .0&+)1*"+1




 :-;-6<-,166/41;0

F?DAK;@AKLRO=A>=DDGK<A=OA;@LA?KL=.HJ9;@=<=J2=DL *:9DK#9F<=DK +GDA

LAC G<=J&MDLMJKHJ9;@= =AFd>>=FLDA;@ J=;@LDA;@=J.=F<=JEMKK9M><A==<=M

LMF?<=J>;@9G38D3@53AF?==A?F=L=E(9Z==RM?F=@E=F /a?DA;@ROAK;@=F

MF<

0@JO=J<=F<A=.=F<MF?=FNGF!(AF=F?DAK;@=J.HJ9;@= EG<=JA=JL  #A=J:=A ?ADL <9K )9LAN= .H=9C=J +JAFRAH %=<= J "9KLCGEE=FL9LGJ$F G<=J$FL=JNA=OH9JLF=J$FKHJA;@LAFA@J=J K=AF=JB=O=ADA?=F(MLL=JKHJ9;@=

 766-+<-,

$ A@@75F76(GFL9?:AK!J=AL9? 

V

0@J .9EKL9?MF<.GFFL9?  

V

0@JAKLKG=LO9KOA==AF=.HA=DOA=K=9E)9;@EALL9? =J+D9LR >eJ(MKACOeFK;@=MF<'AN=?aKL= M;@LAHHKMF<)=M@=AL=F9E.HA=D=E9JCL  A=.=F<MF?X<JA>L=LSFA;@LK=DL=FAFHGDALAK;@=AKCMKKAGF=F9:MF<MFL=J@aDL F9LeJDA;@RM?D=A;@EALNA=D(MKAC !eJ<A=#dJ=J$FF=FNGF!(:A=L=LA@@75F76 AKCMKKAGFKEd?DA;@C=AL=F $F>GJE9LAGFMF<MKL9MK;@

.5 !)<

   =+'.(#.6    ='4#06914670)

#&+1+'.5%*+%*6+)'5 0)'$16

$KL<=J?D=A;@:=J=;@LA?L=*FDAF=9M>LJALL<=K-9<AGK=F<=JK!( "D=A;@R=ALA?9M;@*F

DAF= %M?=F<CMDLMJ +D9LL>GJEEAL@G@=EGEEMFALQ @9J9CL=J )A;@LFMJ#AFL=J?JMF<

AF>GJE9LAGF=FMF<2AKK=FKO=JL=KRM<=F.=F<MF?=FO=J<=F@A=JHD9LRA=JL=A?=F= 2=:@GKLK<=;C=FN=JK;@A=<=F=.;@O=JHMFCL=9:MF<:=JA;@L=F9MK9DD=FEd?DA;@=F ;C=F<=J2=DL )9LeJDA;@KAF<9M;@9DD=#dJ=J$FF=F9M>?=JM>=F KA;@L9LCJa>LA?9E$F

@9DL<=J!( 2=:KAL=RM:=L=ADA?=F =AF9@=K=D:KLN=JKLaF<DA;@KAF<@A=J<A=9C

LM=DD=F&GFR=JLL=JEAF=MF<=AF9MK>e@JDA;@=J!=KLAN9D "MA<=>eJ<=F.GEE=J

=/-6,B155-:D7;F39 

Q

,:D S3E!G97@6L;??7D;EF7;@67?A=D3F;E5:7EADG?8_DG@E7D7^D7DE5:38FQ<767D67D?;DE5:D7;4F=A??F;@ 6;7*7@6G@9  5:I[:>7@;5:F@35:*K?B3F:;7A67D @F7D7EE7@  5:97:763HA@3GE63EE?7;@7[EF77;@7@ DG@6:347@E;5:_47D7;@7)36;AE7@6G@9?;FLGF7;>7@G@66ADF?;F3@67D7@_47D;:D7*F3@6BG@=F7LG6;E=G F;7D7@ 36GD5:E;@66;7*7@6G@97@G@47D75:7@43D?3@5:?3>I;FL;9?3@5:?3>E7:D=A@FDAH7DE;7>>G@6 ?3@5:?3>>3@9I7;>;9QI;763E#747@E7>4EF N 



















)&/"0% %.+$ 

!),17 

=J(ALL=DO=DD=FK=F<=J<=K*-!:A=L=LLa?DA;@=AF(AK;@HJG?J9EE9MK.=F

<MF?=F NGF ^ &MDLMJ  MF< $F>GJE9LAGFKHJG?J9EE  1GDCK?JMHH=FK=F<MF

?=F -=?AGF9DJ9<AGHJG?J9EE=FKGOA= A?=FHJG?J9EE=FAF=AF=J PH=JAE=F

L9DRGF= <A=NGF=A?=FKLaF<A?=F-=<9CLAGF=FEALN=JK;@A=<=FKL=F$FL=J=KK=F ?=FMLRLOAJ< )=:=F<=E*5:_>7DD36;A(GFL9?:AKGFF=JKL9?  V

0@JOAJ<=LO9 9M;@)36;A8D;=3La?DA;@;9   V

0@JNGF=@J=F9ELDA;@=F(AL9J:=A

L=J$FF=FHJG<MRA=JL A=.=F<MF?=FKAF<9M;@9M>  &) 3FDAN=RM@dJ=F

G 16.)+0B=5)+0,-63-6

FJ=?MF?=F  FKLdZ=  H@GJAKE=F  "=<9FC=F  (=AFMF?=F  +GKALAGF=F  #9D

LMF?=FMF<#=J9MK>GJ<=JMF?=F.GFFL9?:AK!J=AL9?   V

0@J )A;@L RME1GJ<=FC=F KGF<=JF9DKF?=:GLKA;@K=D:KL"=<9FC=FRME9;@=F (=F

K;@=F9MKN=JK;@A=<=F=F-=DA?AGF=FKHJ=;@=FH=JKdFDA;@e:=JA@J=F"D9M:=F




=.<:)/   

 

 

 

  

-1;<=6/ 

  

  

  

  

  

5MK9EE=F@aF?=9M>R=A?=F  #AFL=J?JeF<=9M><=;C=F  JCDaJMF?=FDA=>=JF  GCME=FL9LAGF  -=HGJL9?=  !=9LMJ=  "=KHJa;@

-0:?-:< !#!$  5J/41+05)+0-6

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




^>>=FLDA;@ J=;@LDA;@=J-MF<>MFCD=AKL=L=AF=F=ALJ9? KA;@ AF=AF=J2=DLNGDD=J2A<=JKHJe;@=MF<"=?=FKaLR=RMGJA=F

LA=J=F &GEH=L=FL= N=JLJ9M=FKOeJ<A?=$F>GJE9LAGF=J?A:L =AFF?=:GL KA;@AF<=J!DML<=J)9;@JA;@L=F <=J.;@D9?

R=AD=FMF<E=<A9D=FM>J=?MF?=F=AFAD<RME9;@=F  <9EAL9MK=AF=E_:=J>DMKK9F AF<Je;C=F=AF=:J9M;@:9J= "JMF<D9?=RME1=JKL=@=FMF<=MJL=AD=FO=J<=FC9FF  =JM>LJ9?9F<=F*-!$FN=KLA?9LAN=J%GMJF9DAKEMK  JCDaJMF?=FMF<$F>GJE9LAGF=Fe:=J#AFL=J?JeF<= O9K<A= 2=DLRMK9EE=F@aDL OA=+GDALACMF<2AJLK;@9>L>MFCLAGFA=

J=FNGJMF<@AFL=J<=F&MDAKK=F $E+9JD9E=FL $E'9F<

L9? $F<=J5ANAD?=K=DDK;@9>L $F>GJE9LAGFMF<0FL=J@9DLMF?  <A=<=F?=K=DDK;@9>LDA;@=F29F<=D:=?D=AL=F 

:)3<1;+0-:=<B-6 

*JA=FLA=JMF? <A=1=JKLaF<FAKEd?DA;@E9;@L 




#.5/1&'40'1.-5*1%*5%*7.'

G;<=-2.>*52=N=-.;!.7->70.7E-*<1.2J=21;. N>J.;<=0.7*>. .,1.;,1.21;.></P1;52,14.2=21;. ><@*15-.;/P;-*<0*7C.>+524>6;.5.?*7=.7"1. 6.7.;6O052,1=-2.;2.7=2.;>70D

,%++"/ &/ %".  $6&+"1+!".2& "/"+!1+$"+

F<=JK9DK<A=HJAN9L=V9MKK;@DA=ZDA;@HJG>ALGJA=F

LA=JL=V&GFCMJJ=FRC9FF<=Jd>>=FLDA;@ J=;@LDA;@= .=F<=JL9LKa;@DA;@KG=LO9KOA=<A=1GDCK@G;@K;@MD= =AF=J)9LAGFK=AF O=FF?D=A;@<A==<=MLMF?<=K =?JA>>=K=:=FKG=AF=J29F<DMF?MFL=JDA=?LOA=<A= 1GDCK@G;@K;@MD=K=D:KL X7D@E7:7@;EF,@F7D:3>FG@9S JMFG&J=AKCQ NGJE9DKMF<=KC9FRD=J X7D@E7:7@;EF6;7-A>=E:A5:E5:G>767D%3F;A@S "=J<9;@=J NGJE9DK'9F?R=AL;@=><=K*-! 29KKLAEEL1GJ9DD=E@=ML= AF=AF=JNdDDA?N=JaF<=J

L=F!=JFK=@O=DLEAL@9JL=JHJAN9L=J&GFCMJJ=FRMF< NdDDA?F=M=F(=<A=F>GJE=F <A=NGJ9DD=EBMF?=(=F

K;@=FRMF=@E=F<KLaJC=JFMLR=F9DK<9K?ML=9DL= !=JFK=@=F $KLd>>=FLDA;@ J=;@LDA;@=J-MF<>MFCAF=JKL=J'AFA=1=J

D9ML:9JMF?KE=<AMEEALCD=AF=E0FL=J@9DLMF?K;@9

J9CL=J *<=JAKLd>>=FLDA;@ J=;@LDA;@=J-MF<>MFCE=@J 5O=A.LA;@OGJL= 67@F;F[FMF<(G3>;F[F !eJEA;@<A=OA;@LA?KL=F ;CHMFCL==AF=J=>AFALAGF <=K^>>=FLDA;@ -=;@LDA;@=F $<=FLALaLE=AFL<9:=AFA;@L HDMEH=F9LAGF9D=eEH=D=A $<=FLALaLK;@9>>L*JA=FLA=

JMF?AF=AF=JAEE=JCGEHD=P=JO=J<=F<=F2=DL $<=F

LALaLK;@9>>L1=JLJ9M=FAF=AF=J0E?=:MF? <A=AEE=J KLaJC=JNGF1=JLJ9M=FKN=JDMKL=F?=HJa?LOAJ< 1=JLJ9M

=FKN=JDMKL=AEH=JKdFDA;@=F OAJLK;@9>LDA;@=FMF< HGDALAK;@=F=J=A;@ 'GC9DVF9LAGF9DVAFL=JF9LAGF9D =Jd>>=FLDA;@ J=;@LDA;@=*-!OAJCL@A=JLA=>AF9DD= =NdDC=JMF?KK;@A;@L=F@AF=AF  J?A:L<AJ=CLMF< MFEALL=D:9JEAL=AF=J1A=DR9@DNGF+JG?J9EE=F9MK 9DD=F=J=A;@=F NGE*BADF e:=J<A= @8AD?3F;A@ :AK RMJ.;EE7@E5:38FMF<,@F7D:3>FG@91=JLJ9M=FAF<A= =A?=F=F.LaJC=F (d?DA;@C=AL=FMF<+=JKH=CLAN=F =AF=K'9F<=K 

$FMFRa@DA?=F.=F<MF?=F<=J#9MHL9:L=ADMF?$393L;@7 DA=>=JF<A=%GMJF9DAKL$FF=F<=K#9MK=K/9?>eJ/9??9FR CGFCJ=L=*JA=FLA=JMF?>eJ<A=5MK=@=J$FF=FAFNA=D=F =J=A;@=F<=K'=:=FK ?=:=F#9F<DMF?K9FD=ALMF?=F  <A=>eJ<A=5MK=@=J$FF=FKGMF<AF<A=K=J!GJEG@F= d>>=FLDA;@ J=;@LDA;@=K!=JFK=@=FFA;@L?=DA=>=JLOeJ<=F  9K:=<=ML=LFA;@L <9KKd>>=FLDA;@ J=;@LDA;@=K!=JFK=

@=FEAL=J@G:=F=E5=A?=>AF?=J<=F(=FK;@=FR=A?L OG =KD9F??=@L KGF<=JF?9FRAE"=?=FL=AD<A=5MK=@=J$F

F=F=JEMFL=JLO=J<=F AF<=FN=JK;@A=<=FKL=F=J=A

;@=FA@J'=:=FMF<A@J=F'=:=FKNGDDRM?MFEALL=D:9JMF< <=MLDA;@RMN=J:=KK=JF ,M9DALaLAKL<9:=AMFN=JRA;@L:9J JKL<A=,M9DALaL<=J=AFR=DF=F.=F<MF?=FV<9K @=AZLA@J=aMZ=JKL?=F9M=-=;@=J;@= A@J=MK>e@J

DA;@C=AL A@J=MKO9@D<=J>eJ<9K+M:DACMEJ=D=N9F

L=F/@=E=FMF< PH=JL$FF=F=JEd?DA;@L<A=*JA=FLA=

JMF?<=J5MK=@=J$FF=F 9M><A=KA=KA;@9M;@=FLKHJ=

;@=F<N=JD9KK=FCdFF=F .=D:KLN=JKLaF<DA;@MFL=JDA=?=F(=<A=F <9@=J9M;@ d>>=FLDA;@ J=;@LDA;@= =AF=EKL=LA?=F29F<=D A=!GJE<=J$F@9DL= <=J/@=E=FMF<<=J+JaK=FL9LA

GFEMKK<=J&GFCMJJ=FR9F?=H9KKLO=J<=F MEFA;@L <=FFK;@DMKKRMN=JDA=J=F d>>=FLDA;@ J=;@LDA;@=K !=JFK=@=FAKLKLaF<A?<9NGF:=<JG@LXMFEG<=JFMF< MF;GGDS9MKRMK=@=FMF<<9@=JNGF<=F&GFCMJJ=FR

HJG?J9EE=F9:?=@aF?LRMO=J<=F 9KaF<=JLFA;@LK <9J9F <9KK<=JFKHJM;@9Fd>>=FLDA;@ J=;@LDA;@=K !=JFK=@=FLJGLR<=E?D=A;@:D=A:L O=FF?D=A;@AEE=J K;@OA=JA?=JRMN=JOAJCDA;@=F 

,%++"/ &/ %".


#0-5)

9K (GFL9?KE9?9RAF +:7?3     0@J  *-!  AF>GJEA=JL e:=J J=A?FAKK= MF<.;@A;CK9D= <A=:=O=?=F 9:=AOAJ<:=KGF<=JK9M><A=#AFL=J?JeF<=MF< <=FX)=OKO=JLS?=9;@L=L =J$76;7@BD7;E67EXEF7DD7;5:;E5:7@1;H;> @H3>; 67@H7D43@67E?AF?

9F9NA<&JMLRD=J>eJK=AF=F+:7?3 =ALJ9?>;@67 !GD;EF;@  +:7?3 -=HGJL=J @JAKLGH@ !=MJKL=AF ?=O9FF

 <=F :=?=@JL=F %%!AGD@3>;EFI3D6>eJ)9;@OM;@KBGMJF9DAKL=F9MK=MLK;@D9F< ^KL=JJ=A;@ MF<<=J.;@O=AR >eJK=AF=-=HGJL9?=RME !3:D7EF3967D"3F3EFDAB:7HA@ +E5:7D@A4K>

38>/<1<?8.$2/7/8+,/8.<+8D?-2=

  ='4#06914670) =4+'06+'470)   

+06'4)4E0&+)'5+0&'0#)#<+0'0

A=JA=>:GE:=FMF<<=J(GJ<9FK;@D9?NGF*:=JO9JL@A=DL=F^KL=JJ=A;@RO=A %9@J=D9F?AFL=E E *CLG:=J

Ba@JL=KA;@<A=1=J@9>LMF?NGF!J9FR !M;@KRMER=@FL=F(9D MK<A=K=EFD9KKR=A?L=<=J*-!9E *CLG:=J=A

F=F<J=AL=ADA?=F/@=E=F9:=F< ǯ(OLVDEHWK6FKDUDQJV'RNX'UDPDD3@LG5:EQ;@'3FD;AFEAL&9JD(9JCG

NA;KAF<=J#9MHLJGDD= 9KGCM J9E9R=A;@F=L=AF+KQ;@G?J9EENGF!J9FR !M;@K  :9KA=J=F< 9M> <=F "=JA;@LKHJGLGCGDD=F  DAK9:=L@ .;@9J9F? MF< &9JD (9JCGNA;KOMJ<=F:=A<=J;39A@3>7 >eJ<=F!ADEEAL<=E D;5: %7G 47D9 'D7;E9MK?=R=A;@F=L =?JeF<MF?A=!ADE=E9;@=JAFXH7D4;@67F9D_@6 >;5:7)75:7D5:7G@6I35:797E7>>E5:38FEBA>;F;E5:7.3:D@7:?G@9?;F3G8D;5: F;97D;>?7DL[:>G@9S ǯ 'LH 'RNXPHQWDWLRQ 7D 3>> D;784A?47@ Q ;7 A7@7@ D397@ :=D=M;@L=

L=<A=2A<=JKHJe;@DA;@C=AL=FMF<<A=2=?= <A=<A= JEALLDMF?=F?=FGEE=F @9:=F JA=>:GE:=F *H>=J(9JA9'GD=QG<=J P $FF=FEAFAKL=J9KH9J AF=E 9JLACMDA=JL=F@A=J9M;@5O=A>=D9F<=J AFR=DLaL=J /@=GJA=  ǯ$OV$EVFKOXVVEDW,QJULG7KXUQKHU]XP)G@67@+;E5: #A=J<AKCMLA=JL=F<A= =JEALL=DF<=F=9EL=F <=J:=@9F<=DF<=+KQ;@A9L=JKGOA= DAK9:=L@.;@9J9F? MF<&9JD(9JCGNA;K

,73.145

DK=AF=J<=J?9FRO=FA?=F.=F<=JAF MJGH9OA<E=L*-! 9:

9E.GFF

L9??=?=F

0@J<=EGCME=FL9J>ADE G>LE9DK+M:DACMEKE9?F=LAE+JG

?J9EE &AFG MF< 9M> !=KLAN9DK  =AF= =A?=F= Od;@=FLDA;@= .=F<=>Da;@=  5M K=@=FKAF<?JGZ=MF<9M>J=?=F<=JRa@DL="=K;@A;@L=F AFL=JF9LAGF9D=!ADE= KGOA=@=AEAK;@= NGE*-!EAL>AF9FRA=JL=+JG<MCLAGF=F 5M<=F#A?@DA?@LK<=J F=M=F-=A@=?=@dJL=F

.MK9FF=!J=MF<K!ADE;9>?3 9:=J9M;@*DAN=J .LGF=K9KLJG +GJLJaLA?3@63@F7MF<(A;@9=D(GGJ=KAI>;@98ADA>G?4;@7

-6;+0-6I+0<-

A= F=M= GCME=FL9LAGFKD=AKL=$7@E5:7@  $[5:F7 GFF=JKL9?  ;9     0@J  *-!  OADD :=<=MLK9E= +=JKdFDA;@C=AL=F MF< OA;@LA?= !J9?=F >eJ <9K #9MHL9:=F<HM:DACME9M>:=J=AL=F 2A;@LA?= A?=FHJG<MCLAGF=F

D "GDF .3>6:7;?  Q =AF+GJLJaL<=KN=JKLGJ:=F=FMF<=KHJaKA<=FL=FMF< 0)* "=F=J9DK=CJ=LaJK MF<'3BEF7@76;=F/- Q$7;@-3F;=3@KGOA=.3DG? .G@67D=;@67D=7;@.G@67DE;@6 =AF!ADEe:=J<=F(QL@GK<=J.GF<=J:=?9:L=F 


+'(70-6+10+'46 '/1-4#6+' 

G%2;4O77.7>7-@855.7-.7P;0.;77.74.27.9852=2 <,1.77=<,1.2->70.7*+7.16.7%*<@2;*55.;-270< *7+2.=.72<=-*< P<=C.>0/P;-2..684;*=2.D

,".00,-- %".  .)*"+0//"+!1+$"+

2=FF=EGCJ9LA=>MFCLAGFA=J=FKGDD :J9M;@L=KNGJ 9DD=E=AF=KAF>GJEA=JL=eJ?=J$FF=F 2=FF<9K+9J

D9E=FL<9K.AFF:AD<>eJ=EGCJ9LA=AKL <9FF:J9M;@L =KNGJ9DD=E=AF=KME>9KK=F<=$F>GJE9LAGFe:=J<9K +9JD9E=FLMF<HGDALAK;@= FLK;@=A<MF?KHJGR=KK=  "=F9M<9>eJ?A:L=KVK=AL>9KL<J=A%9@JR=@FL=FV<A= *-! +9JD9E=FLKJ=<9CLAGF 2G;@=>eJ2G;@=KL=DDL KA;@<9K/=9E<=KA:7@3GE7E<=J#=J9MK>GJ<=

JMF? K=AF=E+M:DACME*JA=FLA=JMF?RM:A=L=F =AF 2=?O=AK=JRMK=AFAF=AF=J+GDAL 2=DL AF<=J=KEALMF

L=JK;@O=JAKL ROAK;@=F!9CL=FMF<(=AFMF? ROA

K;@=F'e?=MF<29@J@=AL ROAK;@=F.AFFMF<0FKAFF RMMFL=JK;@=A<=F 9:=AAKL?=J9<=<A=K=K$6<-: K;@=A<=F<A=1GJ9MKK=LRMF?>eJ<9K6<K;@=A<=FAE HGDALAK;@=F+9JLARAH9LAGFKHJGR=KK  F<=JK?=K9?L2AJ@9:=F=LO9K?=?=F+GDALACN=J

<JGKK=F@=AL)aEDA;@=AF,M9DALaLK MF<&GEH=L=FR

R=FLJMEF9E=FKA:7E3GE  AFCD=AF=K =F?9?A=J

L=K/=9EVAF<=J(=@JR9@De:JA?=FK!J9M=FV <9K9DD K=AF=&GEH=L=FR K=AF= J>9@JMF?MF<K=AF2AKK=F =AF:JAF?L ME@AFL=J<=F-9M;@K;@O9<=FNGFDaF?DA

;@=F+9JD9E=FLK<=:9LL=F<9K@=J9MKRM9J:=AL=F O9K >eJ<=FeJ?=J$FF=FL9LKa;@DA;@J=D=N9FLAKL 29KKA= RM.L99LK:eJ?=J$FF=FE9;@L 29KKA=<AJ=CL:=LJA>>L  29KA@F=F?9JFA;@L=?9DK=AFC9FF O=AD=KA@J= 5MCMF>L:=KLAEEL A@J=@9F;=F A@J"=D<:dJK=D +GDA

LAC=:=F +9JD9E=FL=:=F #=JMFL=J?=:JG;@=F9M><9K &GFCJ=L=.=A=K<=J=JA;@Le:=J<A=MKOAJCMF?=F =AF=K+>D=?=?=K=LR=KG<=J=AF=J+=FKAGFKJ=>GJE K=A =K=AF=-=HGJL9?=RMJ$FL=?J9LAGFKHGDALAC K=A=K=AF= #AFL=J?JMF<AF>GJE9LAGFRM+GDALAC=J:=Re?=F K=A=K <9KH=JKdFDA;@=+GJLJaL=AF=K:?=GJ<F=L=F 

9KAKL<=J(=@JO=JLd>>=FLDA;@ J=;@LDA;@=J$F>GJE9LA

GF  AF=+D9LL>GJE<=JAKCMKKAGFRM:A=L=F EAL ;C

H>=AD=JFOA=-;7>83>F '>GD3>;E?GE &4<7=F;H;F[FMF< (G3>;F[F =FF+GDALAC:=LJA>>L9DD= 9M;@B=F= <A=E=A

F=F <9K?=@=KA=FA;@LK9F #A=JEAL$F>GJE9LAGFMF< M>CDaJMF?AECD9KKAK;@=F.AFF=9FRMK=LR=F G@F= =AF=F:=D=@J=F<=F-=LJG .;@MD>MFCRM:=LJ=A:=F AKL <=JM>LJ9?<=J*-! +9JD9E=FLKJ=<9CL=MJ$FF=F  :=FKGOA=<A=FGLO=F<A?=_:=JK=LRMF?NGFG>LN=J

JaL=JAK;@ N=JK;@D=A=JF<=E+GDAL MF<!MFCLAGFaJK

.HJ=;@AF9DD?=E=AFN=JKLaF<DA;@=2GJL= X0F>9KK:9

J=S+GDALACRMEF>9KK=F RME J>9KK=F A= FLK;@=A

<MF?K>AF<MF?AE+9JD9E=FLLJ9FKH9J=FLE9;@=F  2A<=JKHJe;@=G>>=FD=?=F G@F=/9:MK 9RM<=JDA;C e:=J<=F/=DD=JJ9F<-=?=DEaZA?==JA;@L=JKL9LLMF? e:=J<9KGDAB[;E5:7'3D>3?7@F9MK=JKL=J#9F< 9MK .LJ9Z:MJ?MF<JeKK=D O=AD<GJLAFROAK;@=FK;@GF9DD B=F= FLK;@=A<MF?=F>9DD=F <A=>eJMFKMFEALL=D:9J OAJCK9EO=J<=F 0F<+9JD9E=FLXHMJS9DKO=AL=J=J .=JNA;=A='AN= _:=JLJ9?MF?=F9MK<=E+D=FME<=K %3F;A@3>D3F7E F<A= .LMF<=FHJG%9@J  AF=AF?=

KHA=DL=K+JG>A /=9E9MK-=?A= /=;@FACMF<-=<9CLAGF KGJ?L<9>eJ <9KK.A=C=AF=OA;@LA?==:9LL=N=JKaM

E=F  2AJCdFF=FMF<OGDD=F<=FeJ?=J$FF=FC=AF=HGDALA

K;@=F FLK;@=A<MF?=F9:F=@E=F 29KOAJ9DD=J<AF?K 9F:A=L=F AKL<9K-eKLR=M?>eJ<A==EGCJ9LA= 29K OAJ9F:A=L=F AKL=AF=$F>GJE9LAGFKH9D=LL=9DK1GJ9MK

K=LRMF?<9>eJ <9KKMFK=J+M:DACME<A="JMF<D9?= @9L K=D:KL9E<=EGCJ9LAK;@=F+JGR=KKAE'9F<L=AD

RMF=@E=F AFO=D;@=J!GJE9M;@AEE=JVMF<K=A=K FMJ AF<=ENGE29@DJ=;@L"=:J9M;@?=E9;@LOAJ< 

,".00,-- %". 


!-87:<

#AFL=J?JMF<:=JA;@L=RME9CLM=DD=F HGDALAK;@=F"=K;@=@=FAE$FD9F<MF<AF <=J 0 :A=L=L 9M;@

 B=<=F A=FKL9? <9K 2G;@=FE9?9RAF)7BADF    0@J  *-!   !e@J=F<= +GDALAC=J$FF=F MF< PH=JL=F$FF=F :=D=M;@L=F #AFL=J

?JeF<= NGF FLK;@=A<MF?=F MF< FLOA;CDMF?=F  $F@9DLDA;@= 9M=J:J=FF=J O9J=F

<A=GDA8;9:F7D <A=. 88[D7MF<<A=<9RM?=@dJ=F<=FB3D >3?7@F3D;E5:7@,@F7DEG5:G@9E3GEE5:_EE7

70-;)=;

.=ALHJAD

HJaK=FLA=JL+9LJA;A9+9ODA;CAB=<=F.GFFL9?EALL9?<A=.=F<MF? A:7E 3GE  "=K=LR= MF< A@J= MKOAJCMF?=F 9M> <9K '=:=F <=J =AFR=DF=F .L99LK:eJ?=J$FF=FO=J<=F9F9DQKA=JL $FL=JNA=OKRMCGFLJGN=JK=F/@=E=FAE H9JD9E=FL9JAK;@=F "=K;@=@=F JMF<=F <9K +JG?J9EE 9:  M;@A:7E 3GE OA<E=L= KA;@ AE *CLG:=J

 <=E +:7?7@E5:I7DBG@=F ";@67D  A= Jd>>

FMF?<=J7?A=D3F;7I7D=EF3FFOMJ<=9MK>e@JDA;@<GCME=FLA=JL  AF=J.LM<A=  OGF9;@<9K&AF<=JOG@DAF^KL=JJ=A;@@AFL=J<=F JO9JLMF?=FDA=?L OMJ<=9M> <=F"JMF<?=?9F?=F

  ='4#06914670) =4+'06+'470)   

1.+6+-B(('06.+%*'456C0&.+%*

38>/<1<?8. )GA3/)?5?80>G=+>95?7/8>+>398=</32/D?./8<+1/8./=+2<2?8./<>= 2G@AF?=@=FOAJ2A=O=J<=FOAJD=:=F D=JF=F 9J:=AL=F)A=RMNGJAKL<=J?=K=DDK;@9>LDA;@= L=;@FAK;@=MF< HGDALAK;@=29F<=DK;@F=DD=JMF<NA=DK;@A;@LA?=J?=O=K=F (AL=AF=JK=;@KL=ADA?=FGCME=FL9LAGFKJ=A@=MF< 0FL=JKLeLRMF?NGF2AKK=FK;@9>L=J$FF=F:DA;CL= K9LAE%MDAMF<M?MKL

AF<A=5MCMF>L  .=;@K!GD?=Fe:=J5MCMF>LK9KH=CL=9MK<=F'=:=FK:=J=A;@=F>F7D@ $76;L;@ D47;F7@ *5:G>7G@6;>6G@9  .A:@7@KGOA=97E7>>E5:38F>;5:7E1GE3??7@>747@ A==AFR=DF=F!GD?=F $7F:GE3>7?E7:7;?@;EE7,@E7D71G=G@8F;?>F7D $7@E5: $3E5:;@7@Q6;71G=G@8FG@E7D7E"^DB7DE -7D @7FLF7%A?367@Q6;71G=G@8FG@E7D7DD47;F 7I79>;5:71;7>7Q6;71G=G@8FG@E7D7D;>6G@9 7?35:F7$7F DABA>7@Q6;71G=G@8FG@E7D7D*F[6F7 7:7DLF7_D97DQ6;71G=G@8FG@E7D7D1;H;>97E7>>E5:38F

15(#!$

A=KGFFLa?DA;@=AKCMKKAGFKK=F<MF?9M>*-! ;9   0@J9MK<=E#99K

#9MKAE5=FLJME2A=FKKL9JL=L=9E HJAD

 A="9KL?=:=J$FF=F DE9J *:=J@9MK=J +=L=J+=DAFC9 "9:A29D<F=JMF<$F?JA</@MJF@=J:=@9F<=DF<A= HGDALAK;@=F/@=E=F<=J2G;@= =J)9;@>GD?=JNGF&887@97E39FHJaK=FLA=JL <9K OA;@LA?KL= <=J D=LRL=F KA=:=F /9?= AFCDMKAN= K=AF=K ?=K=DDK;@9>LKHGDALA

K;@=F#AFL=J?JMF<K =FF>9F?E9;@L= DE9J*:=J@9MK=JEAL=AF=J.=F<MF?  RM<=J9DD=+9JL=A;@=>K<=JAE+9JD9E=FLN=JLJ=L=F=F+9JL=A=F?=D9<=FO9J=F

!=6,-:#1;+0

29FF AEE=J =K <A= /@=E=FD9?= =J>GJ<=JL  OAJ< F9;@ <=J 1;  RM =AF=E )G@67@ +;E5: ?=:=L=F  AK RM >eF> "aKL= <AKCMLA=J=F MFL=J <=J '=ALMF? NGF $F?JA< /@MJF@=J <9K L9?=K9CLM=DD= /@=E9 9MK 9DD=F DA;COAFC=DF MF< :A=

L=F KH9FF=F<= #AFL=J?JMF<AF>GJE9LAGF=F  $E HJAD

 CGFFL= =AF?=

@=F< e:=J <=F GDA8;9:F7D 73>  AE .=HL=E:=J e:=J <A= > "3;63 MF< AE )GN=E:=J e:=J <9K dKL=JJ=A;@AK;@= 7E3?FE5:G>BDA<7=F <=:9LLA=JL O=J<=F 


1740#.#014#/#10'0'4#.5'-4'6C4'0 .E%*6.+0)'070&@ +..#>4#7'0

G%.;;.0.56NJ20-2.!.7->70.71O;=1*=.27.+.<<.;. 1*7,.C>?.;<=.1.7@*<>62178-.;<2.9*<<2.;=>7- @*;>6D

.+"/01". :,1.+)+,.*

1A=JE9DAF<=J2G;@=!AGD@3> '3@AD3?3 NA=JE9DAF <=J2G;@==AF=@9D:=.LMF<=#AFL=J?JMF<AF>GJE9LAGF 9MK9DD=F=J=A;@=F <A=?=K=DDK;@9>LKHGDALAK;@NGF =<=MLMF?KAF< FKHJM;@MF<5A=DKL=DDMF?F9;@ MFK=J=J.=F<MF?K<=>AFALAGF>eJ<A="ML9;@L=F <A= <A=+M:DARAKLAC $FKLALML=2A=FMF<.9DR:MJ?AE%9@J  e:=J<A=.=F<MF?=JKL=DDL=FX1GE3??7@:[@97 EA>>7@@35:HA>>L;7:43D.;67DEBD_5:7:7D3GE973D47; F7F@FI;5=>G@97@FD3@EB3D7@F97?35:FI7D67@ 1;7> 7DAD;LA@FEA>>F76347;EAI7;FI;7?^9>;5:E7;@ S 9K?ADLAE=F?=J=FHGDALAK;@=F.AFFAF^KL=JJ=A;@ .;@DA=ZDA;@:=C9E<A=K=K'9F<F>9F?<=K%9@J=K  =AF=F=M=-=?A=JMF? !AGD@3> '3@AD3?3<GCM

E=FLA=JL=<A=-=?A=JMF?K=JCDaJMF?MF<<A==:9LL= <9RMAE)9LAGF9DJ9L 0F<=K:=?D=AL=L=<A=K=-=?A=

JMF?EALR9@DJ=A;@=F%GMJF9DAKL$FF=F MF<+GDALAC=J$F

F=F AKCMKKAGF=F<MJ;@A@J=JKL=K%9@J 0F<O=J=LO9 <A="=F=J9DK=CJ=LaJ=%GK=>&9DAF9MF<#9FF=K(AK

K=L@GFMF<<=F+GDALGDG?=F+=L=J!ADRE9A=J9E  %MFARMJ'9?=<=J&G9DALAGF<AKCMLA=J=F@dJL= CGFFL= K=@JD=A;@L5O=A>=D=FLOA;C=DF G:<A=K=-=?A=JMF? K=@JD9F?=@9DL=FOeJ<=VEAL-=;@L OA=OAJAF<=J 5OAK;@=FR=ALOAKK=F  :=J+GDALACAKLFA;@L9DD=K <9KOAJCDA;@='=:=FKHA=DL KA;@9F<=JKOG9:AEMLG:MKRME=AKHA=DV,@F7D I79E?;F67@R;>>32 D3G7@"=KL9DL=JAF DAK9:=L@ *@F=EMKO9J=AF=HJ=AK?=CJdFL=-=HGJL9?= F<=J= :=JA;@L=L=FNGED=LRL=F/9?<=J1G5=7D834D;=A:7@3G  NGE=Ee@=F<=JD9AF:7D3B7GF @@7@ (=FK;@=F RMJe;CAF=AFK=D:KL:=KLAEEL=K'=:=FRM@=D>=F NGF 7I3>FBD[H7@F;A@9F<=F.;@MD=F  

.LA;@OGJL.;@MD=DK' *OA=<=J=AFE9D<A=.;@D9?

R=AD=F<GEAFA=JL= DA=>=JL=!AGD@3> '3@AD3?3AF=AF=E RO=ALa?A?=F.;@O=JHMFCLKGOG@D=AF=<=L9ADDA=JL= 9JKL=DDMF?<=J J?=:FAKK= 9DK9M;@<A=#AD>=RM <=J=F AFGJ<FMF?<MJ;@=AF= PH=JL$FF=F<AKCMKKAGF MK=AF9F<=JK=LRMF?EAL17;F97E5:;5:F7O9J9M;@AE FA;@LNGF%9@J=KL9?=F<GEAFA=JL=F%9@J =AF OA;@LA?=K/@=E9VO=J+GDALAC@=ML=:=?J=A>=FOADD  KGDDL=K;@DA=ZDA;@OAKK=F O9KAED=LRL=F%9@J@MF<=JL H9KKA=JLAKLV@A=JRMD9F<=MF<9F<=JKOG '=:=FK=JAF

F=JMF?=F=AF=K-9D>"AGJ<9FG )9;@JM>=9M>&MJL 29D<@=AEG<=J'=GF5=DE9F .LM<A=Fe:=J5O9F?K9J

:=ALAEJALL=F-=A;@ <A=9JKL=DDMF?NGFCLAGF=F RME=?J=A>=F<=J1=J?9F?=F@=ALOA=#7FF7DFAF:7 *F3DE  JAFF=JMF?=F9F<A=LK;@=;@AK;@=:3DF3V <A=5M?aF?=KAF<NA=D>aDLA? 0F<1A=D>9DLAKL9M;@<9K&=FFR=A;@=F<=JAFL=JF9LAG

F9D=F=JA;@L=JKL9LLMF?=JA;@L=NGFB=FK=ALK<=K KA;@L:9J=F#GJARGFLKKGDD=F@=D>=F =AF=2=DL <A= AEE=J=F?=JN=JF=LRLOAJ< 9DKMFK=J=2=DLRM:=?J=A

>=F *:=KME<A=&JAK=<=JMLGEG:ADAF<MKLJA=AF =LJGAL ME<A=2MJR=DF<=KAKD9EAK;@=F!MF<9E=FL9

DAKEMKAF+9CAKL9F ME<A=X?=D=FCL==EGCJ9LA=S 2D9<AEAJ+MLAFK?=@LVAE!AGD@3> '3@AD3?3KGDDL= E9F=J>9@J=F O9KH9KKA=JLMF<O9K=K>eJMFK:=<=M

L=FC9FF 0F<O=FF<A=.;@AD<=JMF?=F<=J.;@A;CK9D= NGF!De;@LDAF?=F9MK>JAC9G<=J9MK/K;@=LK;@=FA=F  O=FF=AF'GC9D9M?=FK;@=AFAF<=JKDGO9CAK;@=F#=A

E9L<=J=LLD=JNGF"J9R@=D>=FCGFFL=F NGJKA;@LA?=J RMK=AFEAL0JL=AD=Fe:=J(=FK;@=F <A=NGFO=AL@=J FA;@LG@F="JMF<RMMFK?=CGEE=FKAF<V<9FFAKL <9K9M;@=AF=.HMJNGF*JA=FLA=JMF?K@AD>= RM<=JKA;@ <A=-=<9CLAGFNGF!AGD@3> '3@AD3?3?=JF=:=C=FFL 

.+"/01".


G 7=:6)4)67:)5)

1GF (GFL9? :AK GFF=JKL9?  V  0@J HJaK=FLA=JL ^ K=AF HG

DALAK;@=K #AFL=J?JMF<E9?9RAF  A= /@=E=F KAF< KG :J=AL ?=>a;@=JL OA= <A= HGDALAK;@= MF< CMDLMJ=DD= '9F<K;@9>L 

 KH9FFL= <A= -=<9CLAGF <=F G?=F NGE PGJRAKEMK  e:=J <9K +@aFGE=F 9J9;C *:9E9 :AK @AF RMJ CMDLMJ=DD=F .ALM9LAGF AF <=J /eJC=A  ?=>9F?=F ROAK;@=F $KD9E MF< &=

E9DAKEMK  $EE=J OA=<=J O=J<=F 9M;@ dKL=JJ=A;@AK;@= /@=E=F RME "=

?=FKL9F< <=J =JA;@L=JKL9LLMF?  9K !AGD@3> '3@AD3?3 OMJ<= :=AE

 )36;ABD7;E67DDI35:E7@7@4;>6G@99DKX=KL=.=F<=J=A@=S9MK?=R=A;@F=L 

G 54):<-@<

AFE9DAE(GF9LDa<L"9:A29D<F=JAF^DAN=NGJ+M:DACMEAE)36;A"G>FGD:3GE +GDALAC=J$FF=FRME.LJ=AL?=KHJa;@RM9CLM=DD=FHGDALAK;@=F/@=E=F "=:GL=F OAJ<$F>GJE9LAGFEAL0FL=J@9DLMF?KO=JLAE-9@E=F?=H>D=?L=JAKCMKKAGFKCMD

LMJ 

O9J=FM 9 %GK=>&9DAF9 #9FF=K(AKK=L@GF F<J=9&<GDKCQ #=A<= .;@EA<L 9JD9EAF99?@9B9LAMF<+=L=J2=KL=FL@9D=JRM"9KL  AF#d@=HMFCL N9"D9OAK;@FA?MF<%dJ?#9A<=JRM.;7F;5=F"[D@F7@Q7D&DFEF387>EFD7;F

  ='4#06914670) =4+'06+'470)   

'(.':+10'0<7/#)'5)'5%*'*'0+/#&+1

38>/<1<?8.$2/7/8+,/8.98>/<1+8  %9@J=F9;@<=EA@F7D93@ .C9F<9D =AF=E<=J<MFC=DKL=F&9HAL=D<=J(=

<ARAF?=K;@A;@L= R=A?L=F*-!MF<-9E MF< )GN=E:=J<=F.HA=DTDE

5O=AL=AD=JA@F7D93@ $F=MLK;@D9F<K;@JA=:<A=K=J!ADE/1 "=K;@A;@L= FG;@ :=NGJ=JAF<A=K=J2G;@=RME=JKL=F(9DRMK=@=FO9J "JMF<<9>eJAKL=AF 9F<=JL@9D:Ba@JA?=J -=;@LKKLJ=AL ME <A= MKKLJ9@DMF? <=K 5O=AL=AD=JK  =J #=JKL=DD=J<=K(AKK:AD<MF?=F N=JMJK9;@=F<=F JRF=AEALL=DK <A=!AJE9D_ @7@F:3> @9LL=N=JKM;@L <A=MKKLJ9@DMF?RMN=J@AF<=JF A@F7D93@O9J F<= <=J =J%9@J=K;@O9F?=J=F!J9M=F9DK.;@D9> MF<=JM@A?MF?KEALL=DN=J

K;@JA=:=FOGJ<=F  K>e@JL=AF=MLK;@D9F<:=AL9MK=F<=F)=M?=:GJ=F=FRM K;@O=J=F(AKK:AD<MF?=F9F<=F"DA=<E9Z=FMF<OMJ<=F>9F?<=J =J%9@

J=9MK<=E#9F<=D?=FGEE=F $F^KL=JJ=A;@O9J<9K(ALL=DJ=R=HLHUA;@LA?V =K?A:L@A=JRM'9F<=<9@=JXFMJSF=MFGRA=DD:=C9FFL=A@F7D93@ *H>=J %MLL9"JQDC9KGCME=FL9LAGF7DA@F7D93@*=3@63>;7&B87DQ6;7A> 97@$7@E5:7@$[5:F7EB7L;3>9E )GN=E:=J

ME 0@J AF*-! @9F<=DL=NGF<=FdKL=JJ=A;@AK;@=F*H>=JF<=K.C9F<9DK  9RM C9E=F =JA;@L= e:=J dKL=JJ=A;@AK;@= *H>=J AF <=F -=?AGF9DJ9<AGK MF< =AF .LM<AG?=KHJa;@ EAL 0FAN +JG>  J  .A=?>JA=< (=JQF AF 7D4EFL7;F RME/@=E9

G 5)/7D-6;+0-6A<0-6!-41/176-6

1GJ!=A=JL9?=FHJaK=FLA=JL^;9 

V

0@J=AF=AF@9DLDA;@MF<R=AL

DA;@ :J=AL 9F?=D=?L= -=DA?AGFK  MF< +@ADGKGH@A=K=F<MF?  29K :=O=?L (=F

K;@=F O=FF=KME<A==PAKL=FRA=DD=F!J9?=F<=K'=:=FK ME<A=XD=LRL=FAF

?=S ?=@L  9DKG ME "=:MJL  'A=:=  &JA=?  "=E=AFK;@9>L  1=J?=:MF?  /G< MF< <A=5MCMF>L<9F9;@A=-=DA?AGF=F<=J2=DL@9:=F<9RMK=@JMFL=JK;@A=<DA

;@=FLOGJL=F9FRM:A=L=F <A=NGF<=F(=FK;@=FAE'9M><=J5=AL9M;@K=@J N=JK;@A=<=F?=D=:LOMJ<=F  ?39AKHeJL<A=K=F!J9?=FAF(QL@=F J=DA?AdK=F /J9<ALAGF=FMF<H=JKdFDA;@=F J>9@JMF?=FF9;@  


'$'0+56 +465%*#(6

G7>7<.;.6.2=<*=C<27-C@.2@.<.7=52,1.7<9;P,1,1. .7=1*5=.7  5*>+@P;-204.2=869.=.7C.@<1*;*4=.; .+.76.7<,152,1.;.C>0>=C.7/P;-.727C.57.7D

.+6)2   ,

9K/@=E9.;DFE5:38F:=LJA>>LH=JE9F=FLB=<=F(=F

K;@=F 1GE"=@9DLe:=J<A=.L=M=JF:AKRM<=F+=FKA

GF=FJ=A;@L<A=+9D=LL= EAL<=F=FKA;@<A=5MK;@9M=

J$FF=F9FA@J=JK=FKA:=DKL=F.L=DD= FaEDA;@<=E =A?=F=F"=D<:=ML=D 9FKHJ=;@=FD9KK=F )9;@<A=K=E (9ZKL9:FAEEL<A=2AJLK;@9>L:=J=ALK=AF=F=FGJE=F +D9LR?=J9<=:=A<=F*-! )9;@JA;@L=FMF<*-! (9?9

RAF=F=AF 5O9J@9F<=DL=KKA;@@A=J:=AFA;@LAEE=J MEB=F=2AJLK;@9>LK:=JA;@L=JKL9LLMF? OA=KA=KA;@<=J 1GJKL9F<=AF=K"JGZCGFR=JFKNA=DD=A;@LOeFK;@=F OeJ<= G;@2AJLK;@9>LOAJ<KG>eJ<A==AFR=DF=F 5MK;@9M=J$FF=FLJ9FKH9J=FL  =J*-!@9LAE0.+<=K2AJLK;@9>LKE9?9RAFK5A >=KL?=@9DL=F2AJ9DD=KAF<2AJLK;@9>L 9:=JFMJ5A :A=L=LE=@J>eJK:=KK=J='=:=F 5A:=RA=@L+GKALAGF  =JCDaJL0JK9;@=FMF<5MK9EE=F@aF?=MF<R=A?L 'dKMF?=F 5A:A=L=L=AF=F$F>G 1GJKHJMF?<9FC<=J &GEH=L=FR<=J-=<9CLAGF  ?9DG:=KKA;@ME-=?A=

JMF?KHDaF=>eJ"=K=LR=KaF<=JMF?=F G:=KKA;@ME 0 :=<AF?L=!9CLGJ=FG<=JJ=?AGF9D= J=A?FAKK=@9F

<=DL2AJAE*-!N=JKM;@=F2AJLK;@9>LNGF?J9M=F 59@D=F9M>KHJ9CLAK;@='=:=FMERMK=LR=F 5ARME =AKHA=D@9LAF<=JAEE=JK;@OA=JA?=JO=J<=F<=F &GFCMJJ=FRKALM9LAGFEAL@MF<=JL=F.9L=DDAL=FHJG

?J9EE=FKGK=AF=LJ=M=.=@=JK;@9>L?=@9DL=F  9:=AAKL<9K JCDaJ=FNGFOAJLK;@9>LDA;@=F5MK9E

E=F@aF?=F=AFaMZ=JKLMF<9FC:9J=K"=:A=L>eJ<9K !=JFK=@=F 2=FF5=ALK;@JA>L=FK=AL=FKL9JC= PLJ9K :=FdLA?=F MEEALNA=D=F$F>G?J9>AC=F /9:=DD=FMF< KGFKLA?=F.;@9M:AD<=JFA@J=F'=K=J$FF=F+=FKAGFK  .L=M=J G<=J1=JKA;@=JMF?KJ=?=DFCD9JRME9;@=F  

EMKK<9K/1<A=KAFCMJR=F 9FK;@9MDA;@=F!ADE:=ALJa

?=FD=AKL=F !eJ<=F*-!AKLKGD;@==JA;@L=JKL9LLMF? K=D:KLN=JKLaF<DA;@=+>DA;@LAE"=?=FRM?>eJ<A= "=:e@J=F=AFF9@E=F A=&) .;DFE5:38FE47D;5:F 7DEF3FFG@9:=K;@JaFCLKA;@FA;@L9M>/@=E=F (9?9

RAF= KGF<=JFAKL=KL9F<L=AD9DD=J$F>GJE9LAGFKK=F

<MF?=F<=K*-!  =J*-!KM;@L=9DK=AF=J<=J=JKL=FFLOGJL=F9M><9K =EG?J9>A= +JG:D=EEAL<=J!J9?= G:9M;@9M>9M=J <A=!AF9FRA=JMF?<=J+=FKAGF=F>eJ<A=DL=F?=KA

;@=JLO=J<=FC9FF 2AJR=A?L=F9M;@RM=JKL'dKMF?K

Ed?DA;@C=AL=F>eJ=AF=9F<=J=!J9?=<=J_:=J9DL=

JMF?$EE=JE=@J(=FK;@=F>9DD=FAE>GJL?=K;@JALL=

F=FDL=JAF<A==E=FRG<=JKAF<KG?=:J=;@DA;@ <9K KA=JMF<ME<A=0@JV9DKG/9?MF<)9;@LV?=H>D=?L O=J<=FEeKK=F A=!AF9FRA=JMF?<A=K=J+>D=?= KL=DDL<9K"=E=AFO=K=FNGJMF?=@=M=J=M>?9:=F  A=D9F?>JAKLA?=!AF9FRA=JMF?MFK=J=K"=KMF<@=ALK

KQKL=EKG<=J<A= FLOA;CDMF?<=J-G@KLG>>HJ=AK= G<=J<=J2" .C9F<9DVMEFMJO=FA?==AKHA=

D=RMF=FF=FVOMJ<=NGF<=F*-! !9;@J=<9CL=M

J$FF=FG>L:=KK=J9DKNGF9F<=J=F=AF?=GJ<F=LMF< K;@F=DD=JME?=K=LRL  1GJRO9FRA?%9@J=F@9:=FOAJAE*-!<=F'DA9D3?? E5:I7DBG@=FGDAB3?=KL9JL=L 9E9DK?AF?=KFG;@ ME<A=/=ADF9@E=9E?=E=AFK9E=FGDAB[;E5:7@ ;@@7@?3D=F 2AJR=A?L=F<9E9DK O9K<A=GDAB[; E5:77?7;@E5:38F^KL=JJ=A;@:JAF?LMF<O9KKA=CGK

L=L (ALLD=JO=AD=CGGJ<AFA=J=F=LO9 AFL=JF9LAGF9D= &GFR=JF=A@J="=K;@a>L=AF5=FLJ9D MF<*KL=MJGH9 NGF^KL=JJ=A;@9MK .HaL=KL=FKEAL<=J JO=AL=JMF? <=J 0MEROdD>'aF<=JAKL^KL=JJ=A;@HGDALAK;@MF< OAJLK;@9>LDA;@AFK5=FLJME<=KF=M=F MJGH9?=Je;CL  ^KL=JJ=A;@AK;@=0FL=JF=@E=JO9J=FF9;@<=E!9DD <=K AK=JF=F1GJ@9F?KDaF?KL<GJL 9DK<A= 0 JO=A

L=JMF?>eJNA=D=FG;@=AF=HGDALAK;@=1AKAGFO9J 

.+6)2 


+7,);&1:<;+0).<;5)/)B16

9K *-! 2AJLK;@9>LKE9?9RAF 5A GFF=JKL9?   0@J  *-!  AF>GJEA=JL e:=J )=MA?C=AL=F 9MK <=J 2=DL <=J 2AJLK;@9>L MF< !AF9FR  *-! 2AJLK;@9>LK

=PH=JLAF F?=DAC9 @J=FK HJaK=FLA=JL <=F 5MK;@9M=J$FF=F #AFL=J?JMF<9F9DQ

K=FRMJAFL=JF9LAGF9D=F2=DLOAJLK;@9>LMF<AF>GJEA=JLe:=J<A='=AKLMF?=F<=J @=AEAK;@=F 2AJLK;@9>L  $E %9FM9J

 :=JA;@L=L=5A *B7L;3> RME +:7?7@ E5:I7DBG@=Fe:=J <A= OAJLK;@9>LDA;@=F &GFK=IM=FR=F <=K &DAE9O9F<=DK  A= 9MK>e@JDA;@= -=HGJL9?= KL=DDL= &GKL=F )MLR=F 1=J?D=A;@= :=A +9KKAN@aMK=JF MF<<=J"=OAFFMF?NGF.GD9J=F=J?A=NGJ 5ME+:7?7@E5:I7DBG@=FD@[:DG@9 :=JA;@L=L=<9K2AJLK;@9>LKE9?9RAFAF=AF=E=ALJ9?e:=J">;?347IGEEFEE7@

  ='4#06914670) =4+'06+'470)   

+' +465%*#(6+01070& +.&

G ")4,7D);&1:<;+0).<;5)/)B16

*3>6A AKL =AF .H=RA9DE9?9RAF RMJ 9F9DQLAK;@=F 9JKL=DDMF? OAJLK;@9>LDA;@=J +@aFGE=F=MF< FLOA;CDMF?=F!J=AL9?   0@J MK>e@JDA;@=$FL=JNA=OK EAL>e@J=F<=F(9F9?=J$FF=FMF<2AJLK;@9>LKLJ=A:=F<=F:A=L=F$F>GJE9LAGF  *JA=FLA=JMF?MF<=AF=F@G@=F)MLRO=JL>eJAFL=J=KKA=JL=#dJ=J$FF=F 2A;@LA

?=MK?9:=FO9J=F

$AD3>G@67I;@@AE!=:JM9J =LDA;@==ALJa?=e:=J <A=F=M=F 0 'aF<=JMF<3E7D_5:F;@67D.;DFE5:38FAE=R=E:=J

38>/<1<?8.3/'+2<2/3>S,/<$=-2/<89,C6 5ME %9@J=KL9?<=J-=9CLGJC9L9KLJGH@=AF<=J0CJ9AF=HJaK=FLA=JL=$7@E5:7@$[5:F7AEHJAD

<9K  GCM<J9E9;7.3:D:7;F_47D+E5:7D@A4K> <9K<=L9ADDA=JL<A=1=JKM;@=<=J-=9CLGJE9FFK;@9>LMF<<=K &JAK=FKL9:=KR=A?L EAL<=J&9L9KLJGH@=RM-9F<=RMCGEE=F $FCGEH=L=FR<=J=@dJ<=F 1=JLMK;@MF?KN=J

KM;@= 9:=J9M;@*H>=J:=J=ALK;@9>LKAF<?D=A;@=JE9Z=F=AF&=FFR=A;@=F<=J<J9E9LAK;@=F/9?= F<=HJAD  AF/K;@=JFG:QD ?=F9M?=K;@AD<=JLAF<=FM>R=A;@FMF?=F<=KKGOB=LAK;@=FLGEOAKK=FK;@9>L=JK19D=JQ '=?9KGO  9KGCM J9E9:=KLA;@L<MJ;@=L9ADLJ=M=MF<=AF=J9E9LMJ?A= <A=<A=5MK=@=J$FF=FFA;@LC9DLDaKKLMF< KA=MFO=A?=JDA;@RMJ!J9?=>e@JL2A=KL=@L=K=A?=FLDA;@EAL<=J.A;@=J@=ALMF<2AJLK;@9>LDA;@C=AL<=JLGE

CJ9>LO=JC=E=@J9DK %9@J=F9;@/K;@=JFG:QD

-:&1:<;+0).<;#)43

=J.;DFE5:38FE +3>=AKL=AF=9FD9KK:=RG?=F=AKCMKKAGFKJ=A@=RM9CLM=DD=F  OAJLK;@9>LDA;@=F /@=E=F  <A= E=@JE9DK HJG %9@J KL9LL>AF<=L  /9DC?aKL= KAF< B=O=ADKRO=A+=JKdFDA;@C=AL=F9MK<=J2AJLK;@9>L A=(G<=J9LAGFKH99J=O=;@

K=DFKA;@<9:=A9:(9? 29DLJ9M<'9F?=JMF<J C>E 29DL=J.GFFD=ALF=J  J !J9FR#D9N9;MF<J *LLG#dJE9FF A="aKL=K=LR=FKA;@9MK<=J DAL=<=J 0FAN=JKALaL=F &GJQH@a=F9MK2AJLK;@9>LMF<$F<MKLJA=KGOA=%GMJF9DAKL$FF=F RMK9EE=F E (aJR

<AKCMLA=JL=F!J9FC#=FK=D1GJKL9F<).DAGBGEFD;3 MF<9NA<)=OE9F(9F9?AF?AJ=;LGJ$5A@3>6UEGEFD;3AE-9@E=F<=K &) +:7?7@E5:I7DBG@=FE<A=!J9?=D@[:DG@9.;797EG@6;EF63E@974AF 


'4#/ ')<74#%**#.6+)-'+6

G5*;2<=-*<<-.; 72,1=7>;*5<.2=6.-2>6-2.<.< *7-.<<87-.;7*>,1*5<.=;2.+>7-2.7<=0.+.; .=@*</P;-2.*,11*5=204.2=>7--.7526*<,1>=C =>74*77>7-6><<D

&.$&0,%)*&". % %0  ,+/1)"+0&+#=. %%)0&$("&0

X%35::3>F;9=7;FSAKL=AF0FOGJLV9DD=C=FF=F=K 9:=J <A==>AFALAGF=FMF<AD<=J<9RMKAF<G>L?JMF<N=J

K;@A=<=F 9EAL?=@LK<=J%35::3>F;9=7;FOA=<=E 'G4>;5-3>G7%9 =KAKLOA;@LA? 9:=JOGJME?=@LK<9 =A?=FLDA;@MF<O9K:=<=ML=L<9K?9FRCGFCJ=L>eJ MFK=J=La?DA;@=J:=ALAE?JdZL=F&GEEMFAC9LAGFK

MFL=JF=@E=F<=K'9F<=K "=F9M<A=K=AKCMKKAGF>e@J=A;@K=ALF>9F?<=K%9@

J=KEALR9@DJ=A;@=F+=JKGF=FMF<-=<9CLAGF=F ME =AF=AFL=FKAN=D9M>=F<=AKCMKKAGFMF<MK=AF9F<=J

K=LRMF?EAL<=E+JAFRAH<=J)9;@@9DLA?C=ALMF<A@J=F R9@DJ=A;@=FKH=CL=F9FRMJ=?=F A=K=AKCMKKAGF=F KAF<MF?D9M:DA;@KH9FF=F<MF<A;@O=J<=AEE=JOA=

<=JNGF<=J?JGZ=F5MKLAEEMF?<=J(AL9J:=AL=J$FF=F RMEN=JKLaJCL=F F?9?=E=FL<=K*-!MF<<=J@G@=F (GLAN9LAGF <9RM:=ARMLJ9?=F e:=JJ9K;@L #AFL=J?JMF<E=AF=J=Ee@MF?=FAKL<9K5A=D <=J*-! Ed?=AE.AFF=K=AF=Kd>>=FLDA;@ J=;@LDA;@=FM>LJ9?K LJ=A:=F<=&J9>L<9:=AK=AF <A=dKL=JJ=A;@AK;@=^>>=FL

DA;@C=ALAFK5=AL9DL=J<=J)9;@@9DLA?C=ALRM>e@J=FV <9RMAKLEALL=D>JAKLA?=AF?=K=DDK;@9>LKHGDALAK;@=J29F

<=DFGLO=F<A? <=JK=@JNA=DEAL2=JL=FMF<'=:=FK

KLADRMLMF@9L  KAKL=AF=M>?9:=>eJ"=F=J9LAGF=F >eJ<A=OAJB=LRLRO9JFMJ<=F"JMF<KLG;CD=?=F <9:=A 9:=J9M;@F=M=(9ZKLa:=K=LR=FCdFF=F  $F<A=K=E.AFF=AKLE=AFe:=J?=GJ<F=L=K5A=D <9K $A67>>&):=A J>GD?MF<A;@:AFe:=JR=M?L<9NGF  <9KKOAJ<=FAF=AF RO=A%9@J=F?ML<GCME=FLA=J=F O=J<=FCdFF=F9M>=MJGHaAK;@=J :=F=RMN=J9FC=JF MF<KGEALRO=A?JGZ= 0 AKCMKKAGF=FEAL=AF9F<=J



RMN=JCFeH>=FFaEDA;@=AF=JK=ALK<A=!J9?=X2A= :JAF?=FOAJ<A=)9;@@9DLA?C=AL9M><=FG<=FSMF< <A='=?ALAE9LAGFK<=:9LL=X^>>=FLDA;@ -=;@LDA;@=JS 9F<=J=JK=ALK 0E9:=JFA;@LFMJVAEE=JFG;@=LO9K9:?=@G:=F=V 1=JKLaF<FAK<AKCMKKAGF=FRM>e@J=F KGF<=JFK;@GF B=LRL9M;@)a?=DEAL&dH>=FRME9;@=F KL=DD=FOAJ MFKEAL<=J$FALA9LAN=,@E7D">;?3;@'>3@7F ;@1;7>  =AF=J<=J?JdZL=F?=K=DDK;@9>LDA;@=F#=J9MK>GJ<=JMF

?=FMFK=J=J"=F=J9LAGFV<A=K=K F?9?=E=FL@9L FA;@LFMJK;@GFB=LRLRM=AF=JE=JC:9J=F,M9DALaLK

KL=A?=JMF?<=Jd>>=FLDA;@=FMK=AF9F<=JK=LRMF?EAL <=E&DAE9O9F<=D?=>e@JL KGF<=JF=J>J=MLKA;@9M;@ =AF=J?JGZ=F5MKLAEEMF?MFK=J=K+M:DACMEK AF= e:=JOaDLA?=F<=(=@J@=AL:=?JeZL=K9DKXOA;@LA?=F =ALJ9?>eJ<A="=K=DDK;@9>LSMF<KA=@L<A=-MF<>MFC

?=:e@J=F<9>eJ9DKXK=@J?MLSG<=JX?MLS=AF?=K=LRL &D9JAKL <9KK<=J*-!FA;@LFMJ9DK'=ALE=<AME<A=K=K '9F<=K KGF<=JF9M;@9DK=LJA=:MF<A=FKL?=:=J =LO9K>eJ<A=)9;@@9DLA?C=ALMF<<=F&DAE9K;@MLRLMF C9FFMF<EMKK $F=AF=E+ADGLHJGB=CLOAJ<@=M=J<=J .L9F<GJLG@=:3GEAF=RM?9M>K=AF=& ;>3@L =N9DMA=JLMF<=AF(9ZF9@E=FH9C=L9MK?=9J:=AL=L  ME<=F F=J?A=N=J:J9M;@<J9KLAK;@RMJ=<MRA=J=F  =F(AL9J:=AL=J$FF=F<=KG@=:3GE7EKGOA=<=J#3@ 67EEFG6;AEOMJ<=F9M>=A?=F=F2MFK;@A=FKL>9@JJa

<=JRMJ1=J>e?MF??=KL=DDL 2=AL=J= AFR=DHJGB=CL= KAF<AF0EK=LRMF?:=?JA>>=F KG=LO99M>$FALA9LAN= <=J&) 74[G67F75:@;==AF=L@=JEAK;@=.GD9J9FD9?= >eJ<9K&) 17@FDG?9E&eFA?D:=J?

&.$&0,%)*&". % %0


.=;;)*,:=+3!)<

0FL=J8GEE346DG5= &) 3FKL=@LK=AL)GN=E:=J

=AF*FDAF=J=;@F=JRMJ1=J

>e?MF? EAL<=KK=F#AD>=eJ?=J$FF=F<A=)9;@@9DLA?C=AL<=K=A?=F=F'=:=FK

KLADKe:=JHJe>=FCdFF=F #=JRKLe;C<=J$FL=JF=L .=AL=AKL=AF=J=;@FMF?KHJG

?J9EE :=A<=EB=<= JK=AF=F A@J=FH=JKdFDA;@=F^=A>A9;E5:7@GV346DG5= :=KLAEE=FC9FF 9EALC9FF=JKA;@LDA;@?=E9;@LO=J<=F OA=NA=D-=KKGMJ

;=F<A= <=J AFR=DF=AFA@J=E K=AF=ELa?DA;@=F'=:=FN=J:J9M;@L

38>/<1<?8.  #>?8./80S<./8637+=-2?>DG3@/+<>2+C  .LMF<=FD9F?VNGF 0@JNGJEALL9?K:AK0@JEGJ?=FKVKL9F<=F*-!MF< ^ 9E %MDA

9FDaKKDA;@<=K#;H73DF: N=FLK?9FRAE5=A;@=F<=K&DA

E9L9?=K 9K/@=E9">;?3I3@67>OMJ<=EALR9@DJ=A;@=F.LM<AG?=KHJa;@=F  F9LAGF9D=F MF< AFL=JF9LAGF9D=F #AFL=J?JMF<J=HGJL9?=F  =JA;@L=F <=J *-!

&GJJ=KHGF<=FL$FF=F MF< N=JKA=JL=F PH=JL$FF=F :=@9F<=DL  (=@J 9DK

 ^KL=JJ=A;@=J$FF=F K9F<L=F H=J (9AD H=JKdFDA;@= 1=J@9DL=FKLAHHK 9F <=F *-! A=K=AF<ANA<M=DD=F$FALA9LAN=FR=A?=F O=D;@?JGZ=KFDA=?=F<A=K=K/@=

E9<=J=NdDC=JMF?AKL $FK?=K9EL=JJ=A;@L=<9K*-! !=JFK=@=FROAK;@=F  MF<0@J (AG 5MK;@9M=J$FF=FMF<<9EAL +JGR=FL<=J@=AEAK;@=F /1 =NdDC=JMF?9: %9@J=F A=GCME=FL9LAGF;@7G@47CG7?7.3:D:7;F <=K 9E=JAC9FAK;@=F P 1AR=HJaKA<=FL=F D "GJ= KL9F< AE (ALL=DHMFCL <=K :=F<K FK;@DA=Z=F<<AKCMLA=J=FAEA=G +3>=MFL=J<=J'=ALMF?NGF9J:9J9 .Ld;CD PH=JL$FF=F  5ME'G4>;5-;7I;@9 N=FL9E2A=F=J-9L@9MKHD9LR <=JNGE*-!MF<<=J.L9<L 2A=F<MJ;@?=>e@JLOMJ<= C9E=FJMF<

=KM;@=J$FF=F 

  ='4#06914670) =4+'06+'470)   

'4#06914670)(E4&+' '.6

^ O9JGRA=DD=J+9JLF=JNGF#;H73DF: <=E&GFR=JL=J=A?FAKAE5=A;@=F<=K &DAE9O9F<=DK ;@L&GFR=JL=VKA=:=F&GFLAF=FL= .MH=JKL9JKOA=(9<GFF9  GF%GNAG<=J'AFCAF+9JCKHA=DL=F>eJ<=F&DAE9K;@MLR ^ e:=JLJM?DAN=

G 415)0-+3

$E%9FM9JOA<E=L=KA;@<9K;FD36;AX AE-9@E=F<=K+:7?7@E5:I7DBG@=F ">;?3I3@67><=FO=DLO=AL=F&DAE9N=JaF<=JMF?=F &=JF<=J.;@O=JHMFCLOG

;@=O9J<=JX ">;?3 :75=9M>III =>;?35:75= 3F <=JAF5MK9EE=F9J:=AL EAL<=E.AD>6.;>6>;87A@6E..=FLOA;C=DLOMJ<= !9KL

^KL=JJ=A;@=

J$FF=FF9@E=F:=J=ALKAF<=J/@=E=FOG;@=<9J9FL=AD A=AD9FRO9J>J=ADA;@ 9M;@=JK;@J=;C=F<A=<MJ;@K;@FALLDA;@=&DAE9=JOaJEMF? <A=NGF<=F/=KL

/=ADF=@E=J$FF=FN=JMJK9;@LOAJ< DA=?L:=A "J9<=DKAMK DD=.LM<A=F?=

@=F@=ML=<9NGF9MK <9KK9:RO=A"J9< J<=JOaJEMF?C9L9KLJGH@9D=!GD?=F RM=JO9JL=FKAF<

B76&):6=6/8-:""

(AL<=FKL=A?=F<=F/=EH=J9LMJ=FKL=A?L9M;@<A="=>9@J=AF=J@G@=F*RGF:=

D9KLMF? ^ :A=L=LAF5MK9EE=F9J:=ALEAL<=E,?I7>F4G@67E3?F=AFF=M=K .(. .=JNA;= MF< O9JFL KG>GJL  O=FF <A= *RGFO=JL= e:=JK;@JALL=F O=J<=F  .G:9D<<A=*RGF:=D9KLMF?<A=G>>ARA=DD=F.;@O=DD=FO=JL=$F>GJE9LAGFK MF< D9JEK;@O=DD=e:=JKL=A?L =J@9DL=F<A=:GFF=FL$FF=F=AF=.3D@ *$*




=.<:)/     

  

  

  

   

-1;<=6/ 

 

 

 

 

 

A=FDA=?=F<=J1GDCK?JMHH=FMF< (AF<=J@=AL=F:=Je;CKA;@LA?=F   (A?J9LAGF9DK?=K=DDK;@9>LDA;@= #=J9MK>GJ<=JMF?O9@JF=@E=F &GEEMFAC9LAGFe:=J:=KL=@=F<=  0FL=JK;@A=<=@AFO=?

-0:?-:< #!#  )4;-:;8-3<1>-

G;.2072<<.@2.-2.#7;>1.727-.7/;*7CO<2<,1.7$8;<=N-=.7-.;*;24*=>;.7<=;.2= 27N7.6*;4>7--2.".;;8;*7<,15N0.27?.;<,12.-.7.7.>;89N2<,1.7N7-.;7 <27-.27-.>=52,1.<5*;6<207*5-*<>7<C.20=-*<<<2,17=.0;*=2875.2,1+.;.,1 =20>70>7-.27/;2.-52,1.;2*580C@2<,1.7-.7>5=>;.772,1=*>=86*=2<,1.;0. +.7%2;6P<<.7-.72*580>7--2.0.0.7<.2=20.7.;4.77>70*4=2?>7=.;<=P=C.7 2..-2.727<+.<87-.;.-2.O//.7=52,1;.,1=52,1.7 >7-/>74*7<=*5=.71*+.7 -*+.2.27.7+.-.>=.7-.7.2=;*0C>5.2<=.7D ;2=C5.2=0.7;N<2-.7=-.;>;89N2<,1.7 >7-/>74>7287




^>>=FLDA;@ J=;@LDA;@=JM>LJ9?RMJ$FL=?J9LAGFE=AFL+JG:

D=E=MF<@9F;=F=JC=FF=F &GEEMFAC9LAGF9M><=J9KAK ?=?=FK=ALA?=JF=JC=FFMF? $F>GJE9LAGFMF<0FL=J@9D

LMF? <A=F?KLFA;@LK;@eJ=F 1GJMJL=AD=FA;@LMFL=JKLeL

R=F KGF<=JF?=K=DDK;@9>LDA;@=F5MK9EE=F@9DLAFK.HA=D :JAF?=F "=OAFF=J$FF=FMF<1=JDA=J=J$FF=F &J9FC=MF<"=KMF<=  KL9:DAK@E=FLMF<AFMF>J=AOADDA?=J$KGD9LAGFD=:=F<=(=F

K;@=F  AF@=AEAK;@=MF<(A?J9FL$FF=F.A=9DD=D=:=FAF <=JK=D:=F2=DL AEK=D:=F'9F< =JM>LJ9?9F<=F*-! D9ML=L=K9M;@KA;@L:9J @dJ:9JMF<O9@JF=@E:9JRM E9;@=FMF<(d?DA;@C=AL=F>eJ=AF?=DMF?=F=K5MK9EE=F

D=:=F9M>RMR=A?=F 

:)3<1;+0-:=<B-6 

AF2=JL>eJ=AF="=K=DDK;@9>L AF<=J(=FK;@=F EAL=AF9F<=JRMLMF@9:=F




+8'45+6C6+56'#.+6C6

G27+;.2=.;52,4P+.;-.7".55.;;*7-127*><<=.1= 6.27.<;*,1=.7</P;-*<.6P1.7>67=.0;*=287 5.2,1+.;.,1=20>70>7-$.;<=N7-20>70E*55.< ;>7-<N=C.-.< D

&)2+"&4+".  &+!".%"&0"+."!(0&,+

"=K=DDK;@9>LDA;@:=F9;@L=ADA?L==NdDC=JMF?K?JMHH=F OA=(AF<=J@=AL=FG<=J<A=!J9?=<=J(=FK;@=FJ=;@L= ?9DL=FMF<?=DL=FAF<=J2=DL<=J(=<A=F9DKJ=D9LAN MF9LLJ9CLAN (9F;@==NdDC=JMF?K?JMHH=FOMJ<=F MF<O=J<=FD=<A?DA;@EAL)=?9LANK;@D9?R=AD=FAF1=J

:AF<MF??=:J9;@L (AL<=E%9@JK=LRL=<=J*-!=AF=AF<=MLA?=K5=A

;@=FAE.AFF=<=JMK=AF9F<=JK=LRMF?EAL<=JdKL=J

J=A;@AK;@=F?=K=DDK;@9>LDA;@=F1A=D>9DL(AL<=J AF>e@

JMF?<=J1GDCK?JMHH=FK=F<MF?>eJ<A=9MLG;@L@GF= KDGO=FAK;@=1GDCK?JMHH=AF&aJFL=FA47D63@ "ADA=3MF<B=F=J>eJ<A=CJG9LAK;@=1GDCK?JMHH=AE MJ?=FD9F<A43D63@DH3F;OMJ<=EAL<=E(9?9

RAF7;?3F8D7?677;?3F=AF=.=F<MF??=K;@9>>=F  <A=KA;@HJAEaJEAL<=FRM?=O9F<=JL=F"JMHH=F9MK <=E=@=E9DA?=F%M?GKD9OA=FKGOA=<=J/eJC=A:=>9K

K=FKGDDL= =F?=K=DDK;@9>LDA;@=F1=JaF<=JMF?=F<A=

K=J%9@J=>GD?=F<@9LKA;@<9K(9?9RAFVHJG<MRA=JL NGF-=<9CL=MJ$FF=F<=J$;@67D:7;F7@D763=F;A@VRM =AF=J.=F<MF?=FLOA;C=DLEAL<=EHJG?J9EE9LAK;@=F 5M?9F?X;H7DE;F[F;EF)73>;F[FS <A=<A=DD?=E=AF@=AL e:=JHGDALAK;@= CMDLMJ=DD= KGRA9D=G<=J9M;@OAJL

K;@9>LDA;@=!J9?=FAE=J=A;@<=J-A>=E9DGBB7@ $;9 D3@F @@7@MF<$7@E5:7@D75:F7AF>GJEA=J=FOADD 

<=K*-!?=?=Fe:=J<=F1GDCK?JMHH=F DK(AL:=?JeF

<=JAF D9F?Ba@JA?=(AL?=KL9DL=JAFMF<B=LRA?='=AL=JAF <=J.=F<MF?7;?3F8D7?677;?3F:AFA;@EAJ<=K (=@J9M>O9F<KNGFEMLL=JKHJ9;@DA;@=F$F>GJE9LAGFK

:=ALJa?=F:=OMKKL O=D;@=JNGF<=F(AL9J:=AL=J$FF=F <=J$;@67D:7;F7@D763=F;A@FA;@L?=K;@=MLOAJ< "9FR AE"=?=FL=AD <A=2A<=JKHA=?=DMF?<=JKHJ9;@DA;@=F 1A=D>9DLAF^KL=JJ=A;@OAJ<NGF<=F%GMJF9DAKL$FF=F EAL?=LJ9?=F FA;@LRMD=LRL9M;@<MJ;@<A=H=JKdFDA

;@=F=L@FAK;@=FMF<<9EALKHJ9;@DA;@=F9;C

?JGMF<K A=<9EAL=JJ=A;@L=,M9DALaLKKL=A?=JMF?AKL =FLKHJ=;@=F<MFN=JC=FF:9J

7;?3F8D7?677;?3FN=JKL=@LKA;@9DK(9?9RAF <9K <A=CMDLMJ=DD=1A=D>9DLAE'9F<OA<=JKHA=?=DLMF<<A= ?=K=DDK;@9>LKHGDALAK;@=F FLOA;CDMF?=FAE5MK9E

E=FD=:=FROAK;@=F(=@J@=ALMF<(AF<=J@=AL<=E !=JFK=@HM:DACMEFa@=J:JAF?=FOADD MJ;@=EGLAGF9

D=DDL9?K?=K;@A;@L=FKGDD<9K1=JKLaF<FAK>eJK;@=AF

:9JF<=JK9JLA?=KK=FKA:ADAKA=JLO=J<=F A=(AF<=J

@=AL=FJ=<9CLAGFCGFFL=KA;@AF<=F>9KLRO=A%9@JR=@F

L=FA@J=JJ:=AL9DK1GJJ=AL=JAFAF.9;@=F<=J$F>GJE9LA

GFKN=JEALLDMF?e:=J$FL=?J9LAGF=AF=F)9E=F E9;@=F =J&GFL9CL<=J-=<9CL=MJ$FF=FRM<=F 1GDCK?JMHH=FMF<<=FRM?=O9F<=JL=FGEEMFALA=K D9KK=F=KRM <9KKOA;@LA?=!J9?=F>Je@R=ALA?=JC9FFL MF<L@=E9LAKA=JLO=J<=F .GCGFFL=:=AKHA=DKO=AK= :=J=ALKAF<=F =J%9@J=FEAL<=J=JA;@L=JKL9LLMF? e:=J<A=-GE9MF<.AFLA<9RM:=A?=LJ9?=FO=J<=F  <9KK<=J1GDCK?JMHH=RMEAF<=KLE=@JM>E=JCK9E

C=AL O=FFFA;@L9M;@E=@JF=JC=FFMF?<MJ;@<A= AF=F:=KGF<=J=F(=@JO=JL=JJ=A;@L7;?3F8D7?67 "=K=DDK;@9>L=FL?=?=F?=:J9;@LOMJ<= *<=JAF=AF=J 7;?3FEAL<=E+JAFRAH<=JEMLL=JKHJ9;@DA;@=F 5=AL AF<=JC9MEB=E9F<e:=J<=F$KD9EMF<(GK;@=

=JA;@L=JKL9LLMF?MF<<=J<=MLK;@=F0FL=JLAL=DMF?  9K*-! (9?9RAFK=LRL:=OMKKL9M>0FL=JLAL=DMF?KL9LL =F:=JA;@L=L= OMJ<=F<A=K=/@=E=FAE.AFF=<=K 9M>.QF;@JGFAKA=JMF? ME<MJ;@<A=(=@JKHJ9;@A?C=AL AFL=JJ=DA?AdK=FA9DG?KAF<=J.=F<MF?7;?3F8D7? 677;?3F:=J=ALKAFL=FKAN:=D=M;@L=L  <A=?=K=DDK;@9>LDA;@=+DMJ9DALaLMFL=JKLJ=A;@=FRMCdF

F=F 9KEMLL=JKHJ9;@DA;@=F?=:GL=FLKHJA;@L<9EAL 9M;@<=E:=KGF<=J=Fd>>=FLDA;@ J=;@LDA;@=FM>LJ9? &)2+"&4+".




-15)<.:-5,--15)<

7;?3F8D7?677;?3F.GFFL9?  V

0@J *-! :A=L=L$F>GJE9LAGF  0FL=J@9DLMF?MF<.=JNA;=AF<=MLK;@=J.HJ9;@=MF<AF<=JB=O=ADA?=F(MLL=J

KHJ9;@=<=JF=M=F(AF<=J@=AL=FKGOA=<=J1GDCK?JMHH=F  AF5A=DAKL=K <9K (AL=AF9F<=J  <A= CMDLMJ=DD= 1A=D>9DL MF< <A= $FL=?J9LAGF AF ^KL=JJ=A;@ RM >dJ

<=JF  AF.;@O=JHMFCLAE%9@J

OA<E=L=KA;@<=E/@=E9"=K9ELK;@MD= EAL :=KGF<=J=E DA;C 9M> (A?J9FL=FCAF<=J MF< (AF<=J@=AL=F  )=:=F 9DD?=

E=AF=F (A?J9LAGFK  MF< $FL=?J9LAGFKL@=E=F ?9: =K =ALJa?= e:=J AF ^KL=J

J=A;@D=:=F<=(A?J9FL$FF=F9MK-MKKD9F< +GD=F J9KADA=F /K;@=;@A=F <=J .DGO9C=A GKFA=F >JAC9 /eJC=A 0F?9JF -MEaFA=F <=E$J9FMF<@AD=KG

OA=e:=JLK;@=;@AK;@=-GE9MF<&aJFLF=J.DGO=F$FF=F

   ='4#06914670) =06')4#6+10   

'+/#6(4'/&''+/#6

38>/<1<?8."+.39'3/8#:/D3+6+?=1+,//37+>0</7.//37+> 0F?=Od@FDA;@=2=?=:=K;@JALL7;?3F8D7?677;?3F9E M?MKL

 A=?=K9EL=-9<AGK=F<MF?OMJ

<=NGF%GMJF9DAKEMK .LM<=FL$FF=F<=J.;7@?=KL9DL=L 9K/@=E9 <9K<A=%MF?BGMJF9DAKL$FF=FMF<7;?3F8D7?677;?3FN=J:AF<=L=AF=MKO9@D9F(=<A=FNGF MF<>eJ(A?J9FL$FF=F 0FL=JKM;@LOMJ<=F<9K2A=F=J(9?9RAF;47D <A=*-! .=F<MF?I;74;FF7MF< )36;A8D;=3 <9KEAL=@J=F9ELDA;@=F(AL9J:=AL=J$FF=F:=J=ALKK=ALR=@F%9@J=F9MK2A=FK=F<=L 

!),17%!

E  (aJR

KL9JL=L=)36;A- &) <9KKDGO=FAK;@KHJ9;@A?=-9

<AGHJG?J9EEAF&aJFL=F 9DK&GGH=J9LAGFROAK;@=F<=J"&#A=3>D36;A?4 MF<<=E*-! 0FL=J<=E9;@<=J"&#A=3>D36;A?4?=KL9DL=F)36;A- MF<)36;A&) .LMF<=F+JG?J9EEHJG/9? 2=AL=J=9;@L.LMF<=FKDGO=

FAK;@=K+JG?J9EELa?DA;@O=J<=FNGEH=JKGF=DD=JO=AL=JL=F/=9E<=JKDGO=

FAK;@=F-=<9CLAGFAE&) #3@67EEFG6;A"[D@F7@:=A?=KL=M=JL

!=:/-64)6, "-:>=;"B1)(,:)>7-4<=0)

$EE=@JKHJ9;@A?=F!=JFK=@E9?9RAF<=K&)GD97@>3@6HJaK=FLA=JLKA;@<9K MJ?=FD9F<NA=JKHJ9;@A? A=.=F<MF?*7DHGE*L;316D3HA7>FG:3OAJ< K=;@KE9DAE%9@J9MK?=KLJ9@DL A=Od;@=FLDA;@=F.=F<MF?=FO=J<=FK=AL

AF<=JGHH=D;GF>cJ=F;=NGF(=D9FA=9D9KCGNA;KMF<'AR9#9MKE9FF

!9JC9KEG<=JA=JL

!),17=:/-64)6,51<<I/41+0-6"-6,=6/-6=6,)+0:1+0<-6)=. $6/):1;+0=:/-64)6,3:7)<1;+0=6,!75)6-;

AF=FO=K=FLDA;@=FFL=AD9F-=?AGF9DALaLMF<1A=D>9DL@9:=F<A=1GDCK?JMH

H=FHJG?J9EE=<=K&)GD97@>3@6 .A=KAF<=AFAFL=?J9D=J=KL9F<L=AD<=K ?=K9EL=F +JG?J9EE9M>LJALL=K <=K #3@67EEFG6;AE AF -9<AG  !=JFK=@=F MF< GFDAF=  A= F?=:GL= 9M> MJ?=FD9F<CJG9LAK;@  0F?9JAK;@ MF< -GE9F=K O=J<=F FA;@L FMJ <=F :=KGF<=J=F M>LJa?=F <=K M  67E &) 7E7FL7E ?=

J=;@L  KGF<=JF K;@9>>=F <9Je:=J @AF9MK =AF=F MFN=JRA;@L:9J=F (=@JO=JL >eJ <A= 9MLG;@L@GF=F 1GDCK?JMHH=F MF< >eJ <A= ?=K9EL= -=?AGF  A= E=

<A9D= 9JKL=DDMF?  !dJ<=JMF? MF< +>D=?= <=J KHJ9;@DA;@=F MF< CMDLMJ=DD=F 1A=D>9DL D=AKL=L =AF=F O=K=FLDA;@=F =ALJ9? RMJ $<=FLALaL <=K MJ?=FD9F<=K 


".21/."+, &, ? '+0'#4-'#/ 4'+.C0&'4'%-

G<2<=>7<.;.1258<8912.62=-.72==.57-.; #7=.;1*5=>70>7--.<7/8=*276.7=<P+.;-2. *,1+*;77.7C>+.;2,1=.7>7-*>/-2.<.%.2<. -2.$854<0;>99.7.27*7-.;7N1.;C>+;270.7D

 &))&/)&06". +!"/!&."(0,. ;.+0"+

9K:=KGF<=J=FDA=?=F<=J+JG?J9EEE9;@=JAE &)"[D@F7@AKL<=J/J9FKHGJLNGF'G4>;5-3>G7 $F@9D

L=FRM<=F:=KL=F.=F<=R=AL=FMF<<9Je:=J@AF9MK EAL<A=K=F$F@9DL=F<A=AF&aJFL=F>=KLRMKL=DD=F<=F @=JNGJJ9?=F<=F(9JCL9FL=AD=KG?9JFG;@RM=JO=A

L=JF  K:=<9J>9LLJ9CLAN=J1=JH9;CMF?=FMF<@G;@

HJG>=KKAGF=DD=J9JKL=DDMF?=F ME<=F@9J9CL=J d>>=FLDA;@ J=;@LDA;@=J+>DA;@Le:MF?=FRMN=JE=A<=F MF<FA;@L:=<AF?L<MJ;@,MGL=FN=JDMKL=RMEX*75D7F -3>G7S9:RM?D=AL=F $F<A=K=E5MK9EE=F@9F?KAF< <A==Ee@MF?=F<=K#3@67EEFG6;AERMN=JKL=@=F 9K%9@J AKLFMJ=AF=!GJLK=LRMF?<=J J>GD?K?=

K;@A;@L= EALF9@=RM9MKK;@DA=ZDA;@'G4>;5-3>G7

$F@9DL=FAF9DD=F+JG?J9EE:=J=A;@=F 9K/@=E9<=J $FL=?J9LAGF:=<=ML=LAF&aJFL=FNGJ9DD=E::9MNGF -=KK=FLAE=FLKROAK;@=F<=F1GDCK?JMHH=F  AF1GJ

?9F? <=J<MJ;@<A= AF>e@JMF?NGF*7DHGE*D7@A ;3A?9FRO=K=FLDA;@:=K;@D=MFA?LOMJ<= A=K= (9JC= /AL=D=AF=JLa?DA;@=F<J=AKLeF<A?=F-9<AGK=F

<MF?MF<=AF=J!=JFK=@K=F<MF?AEFK;@DMKK9F "[D@F7@:7GF7B=<=F.9EKL9? KL=@L>eJ=AF=F=JO=A

L=JL=F#=AE9L:=?JA>>AE.AFF= MJGH9K OG:=A<A=AL9

DA=FAK;@=F D=E=FL=?D=A;@K9E9DK!=JE=FLROAK;@=F <=E.DGO=FAK;@=FMF<<=E&aJFL=FRM?=GJ<F=L=F /=AD=AF?=K=LRLO=J<=F 



(AL<=F(ALL=DF<=J0FL=J@9DLMF?MF<<=K$F>GL9AF

E=FLKe:=J<A=)9;@:9J$FF=FRM:=JA;@L=FMF<9M> <A=K=2=AK=<A=1GDCK?JMHH=F=AF9F<=JFa@=JRM:JAF

?=F AKL<A=+@ADGKGH@A= A=MKKLJ9@DMF?<=J-9<AG

K=F<MF?=FRMJJAN=LAE=9:0@JMF<<A=+JaK=FL9

LAGF<=J!=JFK=@:=ALJa?=<MJ;@RO=A<=JHGHMDaJKL=F (=<A=FH=JKdFDA;@C=AL=F<=K.LM<AGK 0L=+A;@D=JMF< JFMD>+J9K;@ =FLKHJA;@L9M;@<=J=<=MLMF? <A= <A=K=E$FL=?J9LAGFKHJGB=CL:=A?=E=KK=FOAJ< <9KAE -9@E=F=AF=K 0 +JG?J9EEKMFL=JKLeLRLOMJ<=  =KGF<=JK9FRME=JC=FAKL<A=FGFN=J:9D=GLK;@9>L <=J+JaK=FL9LAGF<MJ;@JFMD>+J9K;@ <=JEALK=AF=E $E9?=9MK.7@@6;7$GE;EB;7>F=F?EAL<=E=?JA>> X#=AE9LSN=J:MF<=FOAJ<MF<KA;@:=AKHA=DKO=AK= 9MK<=EKDGO=FAK;@=F&9JKLG<=JNGF<=J(GD=AF "J9<G9FK+M:DACMEO=F<=L  $F<=J .=F<MF?*7DHGE*D7@A;3A-9<AG MF</1O9J<=J.DGO=FAK;@=.L99LKHJaKA<=FL%9F=R JFGN=C"9KL=AF=J/9DCK@GOAE!MFC@9MK "D=A;@

R=ALA?CGFFL=EALMKD9M>=F<=J 0 !dJ<=JMF?=AF= &GGH=J9LAGFEAL=AF=EF9E@9>L=F+9JLF=J"[D@F@7D *B3D=3EE7NGJ?=KL=DDLO=J<=F ME<=F(=@J9M>O9F< <=J?J=FRe:=JK;@J=AL=F<=FCLANALaL=F9:RM<=;C=F  AFO=AL=J=K 0 +JGB=CLAKLAFJ:=AL 

&))&/)&06".


!I:6<-6 7*-:,)67:73)

$E*-! !=JFK=@=FAF>GJEA=JLA47D63@"ADA=3B=<=F.GFFL9?ME 0@J e:=J/@=E=F <A=?9FR&aJFL=FAFL=J=KKA=J=F <A=.=F<MF?OAJ<K=AL%MDA  AE!=JFK=@HJG?J9EENGF)+-*>AH7@;<3OA=<=J@GDL 

!I:6<-6 "-:>=;":-671)7

=J=ALKE=@J9DK

E9DK=F<=L=<9K'9F<=KKLM<AG&aJFL=FAF-9<AGMF< !=JFK=@=F.9EKL9?  0@J+JG?J9EE=EAL<A=K=E/AL=D 5A=DK=LRMF?AKL FG;@AEE=J<A= JR=M?MF?=AF=JE=@J>9;@=F2=;@K=DOAJCMF? AF=JK=ALK<A= FLKH9FFMF?<=JLEGKH@aJ=ROAK;@=F<=F1GDCK?JMHH=F9FRMJ=?=F 9F<=

J=JK=ALKe:=J<A==>AFALAGF<=K#=AE9L:=?JA>>=KF9;@RM<=FC=FMF<D=LRLDA;@ <A="=E=AFK9EC=AL<=J(=FK;@=FAF&aJFL=F !JA9MDMF<.DGO=FA=F9M>=EGLA

GF9D=J :=F=RM>dJ<=JF .=AL HJAD

>e@J=F9:O=;@K=DF<JFMD>+J9K;@ MF<0L=+A;@D=J<MJ;@<A=.=F<MF?

   =06')4#6+10    ='4#06914670)

24#%*'070&7.674'0 +0''4#75(14&'470)(E4&'0

38>/<1<?8.L,/<.3/</8D/G0S808=3-2>/8@98+-2,+<8G.95F67 !eF> 'aF<=J  !eF> -=?AKK=MJ$FF=F  !eF> <GCME=FL9JAK;@= MKDGLMF?=F <=K '=:=FK 9F <=J "J=FR= Y47D 6;7 D7@L7AKL=AFGCME=FL9JTDEe:=J"J=FR=J>9@JMF?=F9E=?AFF<=K  %9@J@MF<=JLK $F=AF=JTDEAK;@=F HAKG<=F -=AK=NGF)GJ<F9;@.e<R=A?L=F>eF>-=?AKK=MJ$FF=F9MK+GD=F /K;@=;@A=F .DGO9C=A 0F?9JFMF< .DGO=FA=F9E %MDA

AF*-! A@J=.A;@LMF<1AKAGFNGF)9LAGF $<=FLALaLMF< MJGH9

!),17=4<=:0)=; !75)=4<=:.-;<1>)4

9K)"O9J

.HA=DGJLMF<&GGH=J9LAGFKH9JLF=J<=KRO=AL=F)A?3"G> FGD87EF;H3>EAF2A=F 'MAK=DD9FGMF<K=AF=K=;@KCdH>A?=9F<CGE:AFA=JL=F -GE9 /J9<ALAGF9DK EAL .OAF?  GKK9 )GN9 MF< .9E:9  "=KMF?=F OMJ<= 9M> -GE9F=KMF< F?DAK;@ 9K)"MFL=JKLeLRL<A=+JaK=FL9LAGF=AF=J1GDCK?JMH

H= <A=AF MJGH9FG;@AEE=JMEF=JC=FFMF?JAF?L 

9@/7/1/8./<G/38/$2/7/8A9-2/+?0

$F"=<9FC=F 9M><A=K=E.=F<=JOA=<=JE9D=AF=2G;@=D9F?=AF/@=E9RME/GH $KKM=RME9;@=F  C9EAE_:=JD=?=F=:=F<A=K=KX?=F<=JS6<K;@=F<97AFK"=KHJa;@ $E"=?=FK9LRRMXK=PS <=E:AGDG?AK;@=F "=K;@D=;@L KL=@LX?=F<=JS>eJ<A=KGRA9D= ?=K=DDK;@9>LDA;@= CMDLMJ=DD="=K;@D=;@LKRM?=@dJA?C=AL 9K?=

E=AF@AF<=F:AHGD9J=F&9L=?GJA=FEaFFDA;@ O=A:DA;@5M?=<9;@L=AKL9DKGFA;@LKO=AL=J9DK=AF&GFKLJMCLMF

K=J=JKGRA9D=FMF<CMDLMJ=DD=F0EKLaF<= /QHAK;@O=A:DA;@=K EaFFDA;@=K1=J@9DL=FAKL<=EF9;@FA;@LF9LeJ

DA;@ NGJ?=?=:=F MF9MKO=A;@DA;@ KGF<=JFCMDLMJ=DD?=HJa?LMF<NGFB=<=J E AFR=DF=F=JD=JFL OA=<=J@GDL  O=AL=J?=:=F 9K J>JAK;@=F<=<9J9F\F<=JMF?=FKAF<VF9LeJDA;@VEd?DA;@ AF=2G;@=D9F? NGE :AK  (aJR

 OMJ<=9M>!(e:=J<9K/@=E9?=KHJG;@=FMF<F9;@?=<9;@L 




'*4#.5'0&'/+076'0 #.58'464#7'05$+.&'0&'#A0#*/'

G%2;<.=C=.7>7<+.@><<=-*<&2.5?87-.; =*0.<9852=2<,1.72<4><<287@.0C>4866.7 >7->7<<=*==-.<<.762=.<,12,1=.>7- >5=>;2=.;*=>;>7-%2<<.7<,1*/=><24 >7- .520287%2;=<,1*/=>7-.+.7<*;=27 >7<.;.7*,1+*;5N7-.;7C>+.<,1N/=20.7D

 ).&("=/0"+%$"+ :,,.!&+0&,+

2A=?MLC=FF=FOAJ=A?=FLDA;@MFK=J=)9;@:9JKL99L=F AF5=FLJ9D MF<*KL=MJGH929KOAKK=FOAJNGF<A=K=F 'aF<=JFMF<A@J=F FLOA;CDMF?=FK=AL<=E!9DD<=K AK=JF=F1GJ@9F?K29Ke:=J<A=/@=E=F <A=A@J= 'AL=J9LMJ:=K;@a>LA?=F <9K/@=9L=JMF<<A=!ADE=  O9Ke:=J<A=F=M=F/=F<=FR=FAF(MKACMF<J;@AL=C

LMJ e:=JMFL=J:JG;@=F=MF<B=LRLOA=<=J9M>?=FGE

E=F=/J9<ALAGF=F DKOAJMFKAF=AF=J^-=<9CLAGFKKALRMF?AE!Je@

@=J:KL<=K%9@J=K <A=K=!J9?=FKL=DDL=F @9LL=F OAJHDdLRDA;@<A=KHJA;@OdJLDA;@='9F<C9JL=EALO=A

Z=F!D=;C=FNGJMFK )MJHMFCLM=DD=$F>GJE9LAGF=F  RME=AKLNGF9CLM=DD=F J=A?FAKK=F?=HJa?L OA==LO9 <A=MK=AF9F<=JK=LRMF?=FME<9K?J=FRF9@=LGE

CJ9>LO=JC/=E=DAF :=KLAEEL=FNA=D>9;@MFK=J2AKK=F  =KO=?=F=FLK;@DGKK=FOAJMFK AF^9: =AF=F =ALJ9?RME:=KK=J=F?=?=FK=ALA?=F1=JKLaF<FAKRM D=AKL=FMF<<=F^KL=JJ=A;@=J$FF=F#AFL=J?JMF<AF>GJ

E9LAGF=Fe:=JMFK=J=)9;@:9JKL99L=FMF<<=J=F =NdDC=JMF?RM:A=L=F  0FL=J<=E/AL=D%747@3@ D=G@6G@97@;@XEF7DD7;5:E %35:43DE5:38FKL9JL=L=<9E9DK=AF=K<=J?JdZL=F ^+JGB=CL= <9K:AK@=ML=>GJL<9M=JLMF<<=E ^+M:DACME'9F<MF<'=ML=<=J.L99L=FAE*KL=F ^KL=JJ=A;@KFa@=J:JAF?=FKGDD 2AJK=LRL=FMFK :=OMKKL<9K5A=D NGF<=JL9?=KHGDALAK;@=FAKCMKKA

GFO=?RMCGEE=FMF<$F>GJE9LAGF=FB=FK=ALKNGF 29;@KLMEKJ9L=FMF<'G@F?=>aDD=F NGF(A?J9LAGFK

:=J=ALK;@9>LMF<.LAEE?=OA;@LMF?AF<=J 0RM>e@

J=FMF<MFKKL9LL<=KK=FEAL"=K;@A;@L=MF<&MDLMJ 



'AL=J9LMJMF<2AKK=FK;@9>L (MKACMF<-=DA?AGF 2AJL

K;@9>LMF<'=:=FK9JLAFMFK=J=F)9;@:9JDaF<=JFRM :=K;@a>LA?=F )9;@<A=K=E+JAFRAHKL9F<=FNGF :AK  B=O=ADK=AF=2G;@=D9F?MFL=JK;@A=<DA;@=.L99L=F AF^KL=JJ=A;@KFa@=J=JMF<>=JF=J)9;@:9JK;@9>LAE (ALL=DHMFCL<=K+JG?J9EEK  OMJ<=<9K+JGB=CL RO9JNGJDaM>A?9:?=K;@DGKK=F 9M>?JMF<<=J?JGZ=F -=KGF9FRMF<<=K J>GD?=KK=LRL=FOAJ=K9:=J9: #=J:KL >GJL 9E9DK>GD?L=MFL=J<=E/AL=DGDA B3:^D7@ ;7+_D=7;=AF=O=AL=J=.;@O=JHMFCLOG;@=  <A=N=JKM;@L= 9FDaKKDA;@<=JM>F9@E=<=J 0 =A

LJALLKN=J@9F<DMF?=FEAL<=J/eJC=A<=EdKL=JJ=A;@A

K;@=F+M:DACME1GDC &MDLMJ 2AJLK;@9>L 2AKK=F

K;@9>L -=DA?AGF DDL9?KD=:=FAF<=J/eJC=AFa@=JRM

:JAF?=F 0F<AE)GN=E:=J HGJLJaLA=JL=FOAJ 9CMKLAK;@9FDaKKDA;@A@J=K 0 =ALJALL=K<A=.L99L=F -MEaFA=FMF<MD?9JA=F $E(aJR OAJ<e:JA?=FK 'AL9M=FV1ADFAMKAKL?=E=AFK9EEAL'AFRAEFa;@KL=F %9@JGDAB[;E5:7"G>FGD:3GBFEF36FV=AF=2G;@=D9F? AE(ALL=DHMFCLMFK=J=J-9<AGK=F<MF?=FKL=@=F (AL<=J+JGB=CLD=ALMF?>eJ%747@3@ D=G@6G@97@;@ XEF7DD7;5:E%35:43DE5:38F:=LJ9ML AKL=K<=JX "AAD 6;@3F;A@=AFFDA=?=F <=FB=O=ADA?=F.L99LG<=J<9K RMJAKCMKKAGFKL=@=F<=/@=E9Ed?DA;@KLME>9KK=F< AFNA=D=FMFL=JK;@A=<DA;@=F!9;=LL=F<9JRMKL=DD=F  9:=AKL=DD=FKGD;@=.;@O=JHMFCLOG;@=FFA;@LFMJ =AFKH=RA=DD=KF?=:GL>eJMFK=J=#dJ=J$FF=F<9J  9M;@OAJK=D:KLHJG>ALA=J=FNGFKGD;@=F+JGB=CL=F 9K ^/=9EK=D:KL@9L&GEH=L=FRMF<2AKK=F9M>?=

:9ML <9KOAJNGJ@=JAF<A=K=EMKE9ZFA;@L@9LL=F MF<OAJKAF<9M>MFK=J=)9;@:9J$FF=FF=M?A=JA? ?=OGJ<=F 0F<9M;@O=FF=KMFKFA;@L?=DAF?=F C9FF =AFNGDDKLaF<A?=KAD<=AF=K'9F<=KG<=J=AF=K KH=RA=DD=F/@=E9KRMR=A;@F=F OGDD=FOAJ<G;@=AF .H=CLJME9F$F@9DL=F9F:A=L=F <9KKG:J=ALOA=Ed?

DA;@AKL .G:J=ALOA=<=J&MDLMJ:=?JA>>NGF^ 

).&("=/0"+%$"+


G "-6,-;+0?-:8=63< =4/):1-6=6,!=5I61-6

=F F=M=F 0 (AL?DA=<=J MD?9JA=F MF< -MEaFA=F O9J NGF (GFL9?  <=E  )GN=E:=J  :AK .GFFL9?  <=E   )GN=E:=J

  =AF .=F<MF?KK;@O=JHMFCL AF ^ ?=OA<E=L $E -9@E=F <=J -=A@=%747@3@  D=G@6G@97@ ;@ XEF7DD7;5:E %35:43DE5:38FOMJ<=RO=A2G;@=FD9F?9:K=ALKNGFL9?=K9CLM=DD=J+GDALAC=AF AF:DA;CAF"=K;@A;@L= &MDLMJ 2AKK=FK;@9>LMF<2AJLK;@9>L<=J:=A<=F'aF<=J ?=?=:=F 

+=&965=1<?::/881/,9>+?0""+.39 

=J*-!O=AL=L=<9K+JG?J9EE9F?=:GL>eJ&))36;A AF<=F.HJ9;@=F<=J9MLG;@L@GF=F1GDCK?JMHH=F AF^KL=JJ=A;@:=J=ALKAE%9@J=

ME<J=A.LMF<=F9MK (AL<=FF=M=F1GDCK?JMHH=FHJG?J9EE=F9M>&) )36;A K=F<=L<=J*-!+JG?J9EE= <A==AF=EF9;@@9DLA?=FE=<A=FHa<9?G?AK;@=FFK9LR=FLKHJ=;@=F 

"+.39<MM5

   =06')4#6+10    ='4#06914670)

1//70+-#6+10(E4'+0+6'+0#0&'4

9KLK;@=;@AK;@=2G;@=FE9?9RAF(GFL9?  V 0@JD=?L<9K#9MHL9M?=FE=JC9M><A="=K;@=@FAK

K=AFF=J@9D:<=J1GDCK?JMHH=<=J2A=F=J/K;@=;@$FF=F .=F<MF?KL@=E=F=JKLJ=;C=FKA;@NGF+GDALACe:=J &MDLMJ:AK@AFRME.HGJL 

=P:=8C/6@

9KMF?9JAK;@=(9?9RAF.9EKL9? 

V 0@JAKL=AF=+D9LL>GJE>eJ$F>GJE9LAGFK9MKL9MK;@AF<=J5A=D

?JMHH= E]BE@K7>H:=<=ML=LRM=MLK;@X*5:3D871G@97S

"+.39+5>?=

9K2G;@=FE9?9RAF<=JdKL=JJ=A;@AK;@=F-GE9!J=AL9? 

V 0@J?=KL9DL=LKA;@RO=AKHJ9;@A? 9M> -GE9FAMF<=MLK;@ 9:=ATF<=FMFL=JK;@A=<DA;@=.HJ9;@=F<=J=MJGHaAK;@=F-GE9MF<.AFLA=Je;CKA;@

LA?MF? OA='GN9J9 -GE9FAG<=J<A=A9D=CL=<=J-GE99MK-MEaFA=FG<=J.=J:A=FMF<(GFL=F=?JG A=M>

9J:=ALMF?<=J"=K;@A;@L= <A= JAFF=JMF?K9J:=ALMF<<A=AKCJAEAFA=JMF?O9J=F9M;@

G>L/@=E=F<=J .=F<MF? 

"+.39:9813+

)36;A BA@9;3 AKL =AF=  La?DA;@= KDGO9CAK;@= %M?=F<K=F<MF? B=<=F RO=AL=F GFF=JKL9?   V  0@J $E(ALL=DHMFCLKL=@L<A=2A=F=JKDGO9CAK;@=%M?=F<MF<<=J=F!J9?=FRMJCMDLMJ=DD=F$<=FLALaLMF<RMJ (MLL=JKHJ9;@= 

)@P.+@735<9098

9K%M?=F< (9?9RAF<=J2A=F=J/K;@=;@$FF=F!J=AL9?  V 0@JK=LRLKA;@EAL9DD=F/@=E=F=AF=J MJ:9F=F.L9<L9MK=AF9F<=J  JFa@JMF? &MFKLMF<!J=AR=ALKAF<FMJ=AFA?=<=J=J=A;@=

"+.393+$Q8

A=.=F<MF?B=<=FRO=AL=FGFF=JKL9?  V 0@JAKL9M><A=1GDCK?JMHH=<=J2A=F=J.DGO9C$FF=F >GCMKKA=JL 9KEMLL=JKHJ9;@DA;@=(9?9RAF:=KL=@L9MK=AF=E/@=E=FK;@O=JHMFCLMF</AHHK>eJ N=FLK )=

:=F J=A?FAKK=F 9M><A=KA;@<A=1GDCK?JMHH=FHGDALACAF^KL=JJ=A;@:=RA=@L FAEEL<A=.=F<MF?9M;@/@=E=F =MJGHaAK;@=JAE=FKAGFO9@J

>743;/:=88-6!)<

=J *-! :A=L=L 9M;@ AE $FL=JF=L $F>GJE9LAGF=F MF< .=JNA;=D=AKLMF?=F >eJ <A= =AFR=DF=F 1GDCK?JMHH=F AF ^KL=JJ=A;@  )=:=F E=@JKHJ9;@A?=F )9;@JA;@L=F ?A:L =K =AF ME>9KK=F<=K &@ 7?3@6  MF< #;H7 *FD73?

F?=:GL 




=.<:)/    

 

 

 

  

-1;<=6/ 

 

 

 

 

 

X-MF<>MFC<=J"=K=DDK;@9>LS :=<=ML=L&GEEMFAC9LAGF<AJ=CL  MF<MF?=K;@EAFCL (=FK;@=FRM2GJLCGEE=FD9KK=F  D=:=F<A?=F&GFL9CL RME+M:DACMEH>D=?=F

-0:?-:< H!!F16-:6;-0-6 

!),17=6,6416-

G275*7.=-.;?862<4>;<<.27.;.@817.;5.+=2<=C>6"8-.?.;>;=.25=@.77.; -2.<.74;.*=2?.7;8C.<<*+@P;0=D 70;2-!,1.2=1*>.;2<29,866>72,*=287<




eJ?=JJ=;@L=KAF<=AF!9DD>eJ<=F*-! ^>>=FLDA;@ J=;@LDA

;@=J-MF<>MFC:A=L=L=AF=+D9LL>GJE>eJ1GDCK9FOaDL$FF=F  -=;@LK9FOaDL$FF=F +9LA=FL=F9FOaDL$FF=FMF<=LJG>>=F=  <A=MEA@J-=;@LCaEH>=F FKHJM;@MF<M>LJ9?KAF<CD9J ML@=FLAK;@='=:=FKO=DLKL9LLAFKR=FA=JL=J&GF>DACL  =J-MF<>MFC<=J"=K=DDK;@9>L:=O=?LKA;@EALL=FMFL=J <=F(=FK;@=F +M:DA;.=JNA;=?G=KHM:DA; A= AFD9<MF? 2AJCGEE=FRM$@F=F .A=J=<=FEAL 

:)3<1;+0-:=<B-6 

&GEEMFAC9LAGF <A==L=ADA?MF? 9Ed>>=FLDA;@=F'=:=F>dJ<=JL




+'7%*'0#%*'4'%*6+)-'+6

G$854<+25->704874;.=.25/.>7->8=. %*<@2556*76.1;+.2.27.6O//.7=52,1 ;.,1=52,1.7!.7-.;D

"0"."/"0.&0/  %1-)06 ".& %0 =.$".+3)0

9K'=:=FK;@J=A:L<A=KH9FF=F<KL=FJ=@:e;@=J  29@JK;@=AFDA;@OaJ=F<A=NA=D=F G>LMF?D9M:DA;@=F '=:=FKK9;@N=J@9DL=JMF<MEK2G@F=F &9M>=F  J:=F MF<5MK9EE=FD=:=F <A=MFK>eJ<A=XeJ?=JK=F<MF

?=FSL9?La?DA;@RM?=LJ9?=FO=J<=F 9M;@=AF?ML=J -G@KLG>>>eJ>ACLAGF9D=K+JG?J9EEMF<J=@:M;@9MLGJ$F

F=F  KDG@FL=KA;@ <9K=AFE9D9FRM?=@=F  29KEA;@9FE=AF=JJ:=AL:=AE_D97D3@I3>F9:=J :=KGF<=JK>J=ML AKL <9KK<A=K=.=F<MF?FA;@LFMJ '=:=FKJ=9DALaL=FOA<=JKHA=?=DL KGF<=JF<A='=:=FK

J=9DALaLG>L9M;@=AFO=FA?N=JaF<=JL A=1=JKA;@=JMF? <A=B9@J=D9F?C=AF=F.;@9<=F=J

K9LR>eJ=AF0F>9DDGH>=J:=R9@D=FOGDDL= MF<CMJRNGJ MKKLJ9@DMF?<=K!9DD=KX:=AFG;@E9DA?=J+Je>MF?S <J9M>CGEEL <9KKE9F<G;@<A=  MJGe:=J

O=AK=FC9FF  A=KL99LDA;@=$FKLALMLAGF <A=HDdLRDA;@=AF=#aJL=>9DD

CD9MK=D=FL<=;CL F9;@<=J<=JL=MJ= D=CLJGJGDDKLM@D <G;@:=R9@DLO=J<=FC9FF  9K&J9FC=F@9MK <9KEAL<=EN=JH>MK;@L=F+9LA=F

L=FCMJRNGJ<=J.=F<MF?=AF=FXN=JFeF>LA?=FS1=J

?D=A;@?=K;@DGKK=F@9L 0F<FA;@LFMJAE AFR=D>9DDH9KKA=JL=LO9K M;@?=F=

J=DD=-=?=DMF?=FaF<=JFKA;@F9;@"=K;@A;@L=F <A= AE AFR=D>9DD9M>R=A?=F OGJ9F<9K.QKL=E:=A JKL=D

DMF?NGF?=F=J=DD=F-=?=DMF?=FXFA;@L?=<9;@LS@9L



)9;@MFK=J=F.=F<MF?=F?A:L=KHDdLRDA;@\F<=JMF

?=F:=A<=J$FN9DA<ALaLKH=FKAGF =FLKL=@LHDdLRDA;@=AF !GF<K:=A<=JWDLF7=3??7D <=JKA;@<=J*H>=JCJAEA

F=DD=J\JRL$FF=F9FFAEEL =J9J:=AL=L=E9F\F<=JMF

?=F>eJ<9K+>D=?=?=D<:=A:=@AF<=JL=F&D=AFCAF<=JF MF<NA=D=KE=@J 0F<FA;@LFMJ<9K M;@O=FFOAJK;@=AF:9J9MK

KA;@LKDGK=!aDD=R=A?=F C9FF<9KFG;@=LO9K:=OAJ

C=F 2A=:=A<=J9DL=F!J9M <A=EAL@G@=J29@J

K;@=AFDA;@C=ALAE.HAL9DN=JH>MK;@LOGJ<=FO9J  AF K=DLK9E=K"ML9;@L=F:=R=A;@F=L==AFX:DALR9JLA?=K 2MF<DA=?=FS9DKXK;@A;CK9D@9>L=!e?MF?S A= K;@O=JCJ9FC=!J9MN=JDGJ=AF=F+JGR=KKMF<KGDDL= <=E.HAL9DB=LRL9M;@FG;@  MJG+JGR=KKCGK

L=F=JK=LR=F A=@9LL=KA=FA;@L MF<KGOGDDL=E9F A@J<9K#9MKO=?F=@E=F )9;@<=J.=F<MF?E=D<=

L=FKA;@G@F=M>JM><J=A.H=F<=J <A=B=  MJG KH=F<=L=F O=ADKA=<=J!9DDKG=EHdJL@9LL= 0F<OA=<=JO9JB=E9F<9MK=AF=JK;@=AF:9J9MK

KA;@LKDGK=F.ALM9LAGF?=J=LL=L 9K_:=JJ9K;@=F<=<9:=AA=,MGL=F:=A<A=K=F .=F<MF?=FKLAEE=F9M;@ .A=DA=?=F O9K<A=(9JCL

9FL=AD=:=LJA>>L J=?=DEaZA?:=A<=F.HALR=FO=JL=F 1GDCK:AD<MF? CGFCJ=L=#AD>=MF<,MGL= 29KOADDE9F E=@J:=A=AF=Ed>>=FLDA;@ J=;@LDA;@=F.=F<=J

"0"."/"0.&0/


-:K:/-:)6?)4<D14.-.K:,1-,-616B-46-6

A=.=F<MF?-A>=E3@I3>FQ>7;5:7E)75:F8_D3>>7EAL+=L=J-=K=L9JALKOMJ<= EAL<=J+JG?J9EEJ=>GJE

F=MCGFRAHA=JL _D97D3@I3>F.9EKL9?   0@J *-! N=J>e?LFMFEAL (AFML=F.=F<=R=ALe:=JRMKaLRDA;@=(d?DA;@

C=AL=F F=:=F.LM<AGCGF>JGFL9LAGF=FMF<$FL=JNA=OKFG;@E=@J-=HGJL9?=F MF<=ALJa?=e:=J=AFR=DF=.;@A;CK9D=NGF(=FK;@=F9FRM:A=L=F <A=KA;@MF

?=J=;@L :=@9F<=DL >e@D=F MF< ?=?=F e:=JEa;@LA? K;@=AF=F<= $FKLALMLAGF=F 9M>#AD>=9F?=OA=K=FKAF< A=<J=A1GDCK9FOaDL$FF=F:=KLJ=AL=FO=AL=J@AF<=F "JGZL=AD<=J.=F<MF? =J?aFRLME-=;@LK9FOaDL$FF=F +9LA=FL=F9FOaDL$FF=F MF<*E:M<KEaFF=JMF< >J9M=F (=@J9DK<A=#aD>L=9DD=J!aDD=CGFFL=<MJ;@ <=F_D97D3@I3>F?=DdKLO=J<=F  .=ALHJAD

?J=A>=F+=L=J-=K=L9JALKMF<<9K_D97D3@I3>F /=9EAFB=<=J .=F<MF?9M;@!aDD=9M> <A=e:=J<=F=F??=KL=;CL=F&GEH=L=FR:=J=A;@<=J 1GDCK9FOaDL$FF=F@AF9MK?=@=F "=J9<=AE=J=A;@NGFG>LE9DK9MKKA;@LKDGK K;@=AF=F<=F!aDD=F@9LKA;@F9;@<=JMKKLJ9@DMF?AE!=JFK=@=F=JKL9MFDA;@ NA=DRME+GKALAN=F=FLOA;C=DL =KGF<=JK=EHdJL@9L<A=5MK;@9M=J$FF=F<A= '=A<=FK?=K;@A;@L=<=J&aJFLF=JAF JAC9.MFFALK;@ <A=F9;@=AF=J*H=J9LAGF =AF=K;@J=;CDA;@=2MF<=9E"=KaZ@9LL= $E%MFAOMJ<=e:=J<=F!9DD=AF=K

%a@JA?=F K=ALK=AF=J"=:MJL?=AKLA?:=@AF<=JL=F(9FF=K:=JA;@L=L <=JNGF K=AF=E FA;@L MFN=JEd?=F<=F 19L=J C=AF=F 0FL=J@9DL :=CGEEL  O=AD <=J AE "=>aF?FAKKALRL $E(9AOMJ<=e:=J<A=!GD?=F<=K&GFCMJK=K=AF=K(9JCL MF<(=AFMF?K>GJ

K;@MF?KMFL=JF=@E=FK:=JA;@L=L -MF< A=FKLF=@E=J$FF=F KG?=F9FFL= 9LQHAK;@ =K;@a>LA?L=  KGDDL=F <9F9;@ ME A@J=F 9MKKLaF<A?=F 'G@F XME>9D

D=FS DK9J:=ALKJ=;@LDA;@X1G?=D>J=A=S@aLL=FKA=C=AF=$FKGDN=FR=FL?=DLN=JKA

;@=JMF? $E.LM<AG@9LL==AF1=JLJ=L=J<=JD47;F7D=3??7D<9FF=AF=$<==MF< <A='=ML=:=C9E=FA@J"=D< $EE=J OA=<=J ?A:L =K 9M;@ =K;@O=J<=F e:=J -=;@LK9FOaDL$FF=F  <A= <9K "=D< <9KA@F=FA@J=&DA=FL$FF=F?=:=F >eJKA;@:=@9DL=F N=JDA=J=FG<=JN=J

KHA=D=F MF<<9FFHD=AL=KAF<  AF.9DR:MJ?=J @=H99J@9LL=<MJ;@=AF=2A=F=J <NGC9LAF R=@FL9MK=F<= MJG N=JDGJ=F  )9;@ <=J .=F<MF? ?9: =K "=D< 9MK =AF=E)GL>9DD>GF<K<=J)75:FE3@I3>FE=3??7D

   = E4)'40C*'    ='4#06914670)

+0#..(E4&'0

K:/-:.7:=5

'$1 <AJ=CLMF<EALeJ?=J:=L=ADA?MF?9KF=M=&) _D97D8ADG?K=LRL9M> <=F<AJ=CL=FJ9@LRME+M:DACME $@J=(=AFMF?Ra@DLV9FD9KK:=RG?=FV:=A <=F?JGZ=F?=K=DDK;@9>LDA;@=F#=J9MK>GJ<=JMF?=F<=J5=AL 

"+0)=84)<B-:1+0<

9K=AFRA?9JLA?="=JA;@LKE9?9RAFKL9JL=L=

9M>=AF=EF=M=F.=F<=HD9LR !J=AL9?   0@J *-! MF<DA=Ze:=J2G;@=F (GF9L=MF<%9@J==LJG>>=F=V &Da?=J$FF=FMF<=CD9?L=VKGOA=<=J=F-=;@LK9FOaDL$FF=FRM2GJLCGEE=F  =A <A=K=F '9F?R=AL:=G:9;@LMF?=F OMJ<=F G>L "=K;@A;@L=F <GCME=FLA=JL  <A=K=D:KLCJ=9LAN=FJ=@:M;@9MLGJ$FF=FC9ME=AF?=>9DD=FOaJ=F .H9FF=F<  =EGLAGF9DMF<9M>CDaJ=F<O9J=F=LO9<A=-=;@LK>J9?=F <A=AF<=J.=F<MF? 3GEG@6A8<9J?=KL=DDLMF<<AKCMLA=JLOMJ<=F 

G %76#)/B=#)/

A= .=F<MF? :A=L=L La?DA;@ (GFL9? :AK !J=AL9?  V  0@J =AF=F <A

J=CL=F A9DG? ROAK;@=F .LM<AG?9KL MF< #dJ=J$FF=F H=J /=D=>GF  $FL=J=KKA=J

L=CdFF=F:=A9CLM=DD=FMF<J=D=N9FL=F/@=E=FAF<A=AKCMKKAGF=AFKL=A?=F MF<KG<9K+JG?J9EE<AJ=CLEAL?=KL9DL=F 5M<=F"aKL=F

?=@dJL=FM 9  GLK;@9>L=J 2GD>?9F? +=LJALK;@ 9DC9F PH=JL=  -G:=JL (=F9KK= .;@JA>L

KL=DD=J "M<JMF#9JJ=J)9@GKL PH=JLAF  JFA(9F?GD<.;@9MKHA=D=JAF <GD> #GDD/@=GDG?=MF<FLGFAG!A9F.;@JA>LKL=DD=J




E4)'40C*'#.57$.+% &&'&#.7'

GP;0.;7N1.;5*<<.7<2,1?.;6>=52,1<80*;26@.5= @.2=.7*J<=*++.=;*,1=.= *-28>7-.;7<.1.7 72,1=6*,1.7D

 

 

   .&$&00",)# +!"/!&."(0,.&+ &"+

&MJR?=K9?L<=J=J=A;@<=JKGRMK9?=FN=JK;@aJ>L=F eJ?=JFa@= A=K=F=J=A;@:=9J:=AL=F<A=F=MF#3@ 67EEFG6;AE<=K*-! eJ?=JFa@=J9DKNGF<A=K=FD9KK=F KA;@ N=JEMLDA;@KG?9JAEO=DLO=AL=F(9ZKL9::=LJ9;@

L=L -9<AGMF<!=JFK=@=FFA;@LE9;@=F %=<=J-9<AG MF<B=<=J!=JFK=@9F:A=L=J?D9M:LNGFKA;@ K=D:KL X:eJ?=JF9@SRMK=AF 2=J:eJ?=J>=JF9?A=JL  O=E=KFA;@L?=DAF?L =AF=Je;C=RME+M:DACMERM :9M=F OAJ<NGE(9JCL9:?=KLJ9>L 1GF<=J=@9MH

LMF?9DD=AF :eJ?=JF9@GJA=FLA=JLRMK=AF DaKKLKA;@9DKG C=AF'G4>;5-3>G79:D=AL=F )G;@O=FA?=J=AF'G4>;5 6676-3>G7 <=JNGF=AF=Ed>>=FLDA;@ J=;@LDA;@=F  ?=:e@J=F?=KLeLRL=F-MF<>MFCN=J9FKL9DL=JRM-=;@L ?=>GJ<=JLO=J<=FC9FF A=NGFNA=D=F"=:e@J=FR9@D=J$FF=F?=JF=MF<G>LCGF

KMEA=JL=F0FL=J@9DLMF?K $F>G G<=J.HGJLHJG?J9EE= EALF9LAGF9D=FMF<AFL=JF9LAGF9D=F$F@9DL=FKAF<AFNA=

D=JD=A#AFKA;@LK=D:KLN=JKLaF<DA;@9M;@:eJ?=JF9@ KAF< KA==KFA;@L O=J<=FKA=NGE,MGL=F "GLLRMJ-=;@=F

K;@9>L?=RG?=F DD=<A=K=!GJE9L=<=;C=F9FL@JGHGDG

?AK;@==<eJ>FAKK=9:VOAJOGDD=F9F<=JF9LAGF9D=F =:9LL=L=AD@9:=F OAJOGDD=FMFK=J=5=AL?=FGKK=F

K;@9>LAE2=DLE9ZKL9:D=:=F OAJOGDD=F<A=.A=?=J NGF2AE:D=<GFMF<&ALR:e@=DOAKK=F :AKO=AD=FOGD

D=FOAJ9M;@FMJ9:K;@9DL=F9:=JFA;@L=AFK;@D9>=F EeKK=F DD=KRMLA=>KLE=FK;@DA;@==<eJ>FAKK=NGF eJ?=J$FF=FNGJ<=E-9<AG G<=J!=JFK=@?=JaL %=<= =AFR=DF=.=F<=EAFML= <A=OAJ@=JKL=DD=FMF<N=JLJ=A

:=F AKL<=J1=JKM;@ :eJ?=JF9@RMK=AF  :=J=K?A:LFG;@=AF=<eJ>FAK =KFAEEL=AF=JL.GF

<=JKL=DDMF?=AF=K@9F<=DLNGF<=JMFKN=JLJ9ML=F2=DL NGJ<=J#9MKLeJ= NGF<=F.LJ9Z=F <A=OAJK=D:KLMF<9DD

La?DA;@:=>9@J=F NGF<=F J=A?FAKK=F <=J=FMFEALL=D:9

J=5=M?$FF=FOAJO9J=FG<=J@aLL=FK=AFCdFF=F NGF =K;@DeKK=F <A=MFKMFEALL=D:9JMF<FA;@Le:=J/J9FK

EAKKAGFKJA=E=F:=LJ=>>=F9KAKL<=J=J=A;@<=J&D=AF

O=LL=JD9?= <=J'GC9DDA?9 <=K'9F<=KL@=9L=JK <=J =RAJCKHGDALACMF<<=J)9;@:9JK;@9>LK @JGFAC  

5M?=?=:=FVAF<=FN=J?9F?=F=F>eF>:AKR=@F%9@J=F @9:=FKA;@9M;@R9@DJ=A;@=CGEE=JRA=DD='GC9DJ9<AGK MF<HJAN9L=!=JFK=@N=JKM;@=AFDGC9D=F&9:=DF=LR=F ME<A=K=!GJENGFeJ?=JFa@=:=Ee@L DD=J<AF?K @dJLMF<KA=@L<=J <A=9F?=KHJG;@=F=eJ?=J$F<A=K=F +JGB=CL=FMF<+JG<MCL=F=AF=?=OAKK= F?=9F F?= <=JB=O=ADA?=F(ACJG (aJCL=  F?=<=J+JG<MCLAGFKEAL

L=D  F?=<=J:=@9F<=DL=F/@=E9LAC NGJ9DD=E9:=J 9M;@ F?=<=JCGEE=JRA=DD=F(GLAN= 9KC9FF<9FF MF<O9FFRM<MJ;@9MKF=LL=F J?=:FAKK=F>e@J=F MF< <=J=AF=G<=J9F<=J=E9?<9K9DK=ALJ9?RMJ(=<A=F

+DMJ9DALaL?=DL=FD9KK=F :=J<=J>GJ;A=JL='G4>;5 6676-3>G7 <=F<A=&) #3@67EFG6;AE@=JNGJ:JAF

?=F DA=?LHJaRAKAF<=J_:=JOAF<MF?<A=K=J==F?MF

?=F ǯPLWHLQHUSHUPDQHQWHQ:HLWHUHQWZLFNOXQJLQQRYDWL

N=J+JG<MCLAGFKHJGR=KK= ǯPLW5HGDNWHXU,QQHQXQG7HFKQLNHU,QQHQGLHDXIGHP .L9F<9J<?JGZ=JF9LAGF9D=J+JG?J9EE=?=K;@MDLMF< 9F<A=K=FGJA=FLA=JLKAF< ǯPLW-RXUQDOLVW,QQHQGLHYRPVHOEHQULJRURVHQ5HGDN

L=MJKKL9LML?=K;@eLRLO=J<=F <9K<A=0F9:@aF?A?C=AL NGF1; -=<9CL=MJ$FF=FKA;@=JKL=DDL M><A=X)9;@JA;@L=FNGJ<=J#9MKLeJS<=J9JLE9KKAN DGKRM?=@=F E9?=AF=PLJ=E=J*N=JCADDK=AF :=J=AF=K KL=@L>=KL5MK9EE=F?=J=;@F=L=JJ=A;@L<=J*-!:RO  =JJ=A;@=F<A=.=F<MF?=F<=J#3@67EEFG6;AE2G;@=>eJ 2G;@=>9KL<J=A(AG eJ?=J$FF=FAE!=JFK=@=FMF< >9KLNA=J(AG AE-9<AGEAL<A=K=JN=JK;@aJ>L=F!GJE NGFeJ?=JFa@= OA=KA=FMJVO=FFe:=J@9MHLVAE d>>=FLDA;@ J=;@LDA;@=F5MK9EE=F@9F??=<=A@=FC9FF  

.&$&00",)#


"76)0?1-5J/41+0 ,1-!)6,-;;<=,17;

A= &) #3@67EEFG6;AE KAF< EAL A@J=J La?DA;@=F =JA;@L=JKL9LLMF? Fa@=J 9F <=F^KL=JJ=A;@=J$FF=F9DKAJ?=F<=AF9F<=J=K1GDDHJG?J9EEAE<=MLK;@KHJ9

;@A?=F-9ME !eJ9DD=F=MFMF<=KDaF<=JO=J<=FLa?DA;@=ALJa?==JKL=DDLMF< HJaK=FLA=JL <=J=F/@=E=FMF<$F@9DL=MFEALL=D:9J>eJ<A=-=?AGF=FMF<A@J= =OG@F=J$FF=FJ=D=N9FL MFL=J@9DLK9EMF<AF>GJE9LANKAF< 2=AL=J=$F>GJE9

LAGF=FAE'G4>;5-3>G7 #7;EFG@9E47D;5:F<=J&) #3@67EEFG6;AE

38>/<1<?8.38/"/3=/38=88/</@98'3/8G.95F67 "=J@9J<-GL@ <=JKA;@K=D:KL9DKXJ;@aGDG?=<=J'AL=J9LMJS:=R=A;@F=L >=A=JL=9E  %MFA

K=AF=F  "=:MJLKL9? 5M<A=K=EFD9KKR=A?L=*-! <=F KK9Q:9F<;@7)7;E7;@E @@7D7HA@.;7@AF<=J1=JTD

EMF?NGF%9F.;@eLL= ;@7)7;E7;@E @@7D7HA@.;7@AKL=AF-=AK=>e@J=J <=J<A=K==DAK;@=F=TF<DA;@C=AL=F <=J.L9<L2A=FMF<A@J=J=OG@F=J$FF=FAF=P=EHD9JAK;@=F=L9ADK<9JKL=DDL 

   ='4#06914670)    = E4)'40C*'

'4*D46<7 ? '44'&'6/+6 

3<176-6,-:)6,-;;<=,17; 16-=;?)04

CLAGF=F <=J &) #3@67EEFG6;AE CdFF=F CMDLMJ=DD=F @9J9CL=J @9:=F G<=J KA=KAF<K=JNA;= MF<?=K=DDK;@9>LKGJA=FLA=JL $FB=<=E!9DDKAF<KA=9:=JXF9@ 9EeJ?=JS < @ KA=?=KL9DL=F:=OMKKL<9K?=E=AFK;@9>LDA;@='=:=FAF<=F =AFR=DF=FMF<=KDaF<=JFEALMF<O=J<=FNGFNA=D=F(=FK;@=F?=JF=AFF

KHJM;@?=FGEE=F  5M =JOa@F=F AKL =LO9 <=J &47D^EF7DD7;5:;E5:7 7D;7@E5:75=  <=J EAL =AF=J Ba@JDA;@=FM>D9?=NGF

.Le;CAFCF9HHRO=A2G;@=FN=J?JA>>=FAKLMF< O=ALE=@J9DK=AF?=Od@FDA;@=K"MLK;@=AF@=>LAKL  eJ?=J MF<)9;@:9JK;@9>LKFa@=:=OA=K<=J!"<-1-:5):3 <=J

=AF= @9F<DA;@=MF<?MLN=JKLaF<DA;@=JGK;@eJ=RMJ1=J:=KK=JMF?<=J&GEEMFAC9

LAGFEALMFK=J=FKDGO=FAK;@=F)9;@:9J$FF=F@=J9MK?9: A=JGK;@eJ= $;F7;@3@67D Q E>AI7@;E5: 9D76F AKL =AF= AFD9<MF?  <A= &GEEMFAC9LAGF EAL MFK=J=F )9;@:9J$FF=F RM AFL=FKANA=J=F  OG:=A <A= OA;@LA?KL=F =?JA>>= >eJ NA=D=DDL9?KKALM9LAGF=F<9K1=JKLaF<FAK>eJ=AF9F<=J>dJ<=JFKGDD=F M>CD=:=JEAL$F>GJE9LAGF=F>eJ JKL@=D>=J$FF=F %Q-7DEF[@6;9G@9;?%AF 83>>VMFL=J<A=K=E)9E=F@9:=F#3@6+;DA> X$+MF<!#1:74=AF=F=M= .A;@=J@=ALKC9EH9?F=?=KL9JL=L  AFM>CD=:=J9M><=E!9@JR=M?G<=J(G:AD

L=D=>GFKGDD#=D>=J$FF=FR=A?=F OGKA=OA;@LA?=$F>GJE9LAGF=F>AF<=F ! 1-,-:J;<-::-1+0 KL9JL=L= #7@=7@ A:@7 4>7@=G@9  .=AL %9@J=F AFALAA=JL <9K#3@67EEFG6;A?=E=AFK9EEALK=AF=F+9JLF=J$FF=F&9EH9?F=FRME/@=

E9-7D=7:DEE;5:7D:7;F: %MFAOMJ<=AF-9<AG MF<!=JFK=@KHGLKKGOA= J=<9CLAGF=DD=F=ALJa?=F9M><A=NA=D>aDLA?=F:D=FCMF?=F@AF?=OA=K=FVNGE 2=;@K=DF NGF K Oa@J=F< <=J !9@JL e:=J <9K .M;@=F NGF "=?=FKLaF<=F AE MLG <9K)9;@K;@D9?=FAE/=JEAFC9D=F<=J:AKRME/=D=>GFA=J=FEAL<=E#9F<Q =J ! *-:J;<-::-1+0 O9J OA= B=<=K %9@J 9M;@

 (ALAFALA9LGJ <=J#;@ L7D">3@9IA>=7 E .=HL=E:=J=JK;@9DDL=<A=";@67D=>3@9IA>=7MF<L9?K <9J9M><A==>3EE;E5:7">3@9IA>=7 =J=ALK=AF=2G;@=<9NGJ?9:=K<A=H;EG 3>;E;7DF7">3@9IA>=7AE'AFR=JGF9MH9JCNGJ<=EJM;CF=J@9MKF9;@=AF=E &GFR=HLNGF!GDC=/=?=LL@G>>  


#00#&+1*D4'01&'4'405'*'0)4#6+55'+0 

G2.$.;<8;0>7062=:>*52=*=2?18,1@.;=20.;7/8;6*=287 CN15=/P;62,1C>-.7;>7-;.,1=.7-.;.7<,1.7?.; 05.2,1+*;62=-.6-.684;*=2<,1.7&>0*70C>%*<<.; 8-.;25->70D

%.&/0&+" ,))".  !&,1)01.%1/

&9FF-9<AG@dJ=FG<=J!=JFK=@=F?J9LAKK=AF 2=<=JAF@AF9 )GJ<CGJ=9 %9H9F 1=F=RM=D9FG;@AF <=F0.G<=J MJGH9AKL<A=KEd?DA;@  ?9DOG9M> <A=K=J2=DL.A=<A=+GO=J /9KL=$@J=K-9<AG G<=J !=JFK=@?=JaL=K<Je;C=F .A=EeKK=F<9>eJ:=R9@D=F .GG<=JKG %=<=J#9F<?JA>><=JAF(=<A=FMFL=JF=@E=F=K;@a>

LA?L=FEMKK=FLDG@FLO=J<=F 9KM>KL=DD=FMF< J@9DL=FB=<=K.=F<=E9KLK !GJK;@MF?KHJGB=CL==LO9 RMJ1=J:=KK=JMF?<=K EH>9F?KG<=J<A=+JG<MCLAGF NGF$<==F 9DD<A=KCGKL=L"=D< "=D< <9KOAJ9DD=RM:=R9@D=F@9:=F =FLO=<=J<MJ;@ .L=M=J9:?9:=F <A=e:=JM<?=LN=JL=ADMF?9F<A= (=<A=FMFL=JF=@E=F>DA=Z=F <MJ;@<A==R9@DMF? NGF<AJ=CL=F"=:e@J=FHJGCGFKMEA=JL=J AF@=AL+9Q

/1 e:=JCD9KKAK;@=Xd>>=FLDA;@ J=;@LDA;@=S"=:e@

J=F>AF9FRA=JMF?G<=J<MJ;@<=F&9M>NGF+JG<MCL=F  :=A<=F=FOAJe:=J<=F&9M>HJ=AK<A=2=J:= MF<(9J

C=LAF?:M<?=LKEAL>AF9FRA=J=F O=D;@=OA=<=JME<=F X+JAN9L=FSA@J'=:=F=JEd?DA;@=F .GG<=JKG "=D<@9LC=AF(9K;@=JD



=J59@DMF?K?JMF< K=AFX?=K=DDK;@9>LKHGDALAK;@=J _:=J:9MS K=@JOG@D 2=JR9@DL :=KLAEEL #=AZL=K A=,M9DALaL<A=K=K =KLAEE=FCdFF=FKAKL9DD=J<AF?KK=@JMFL=JK;@A=<

DA;@ $;@@9DL==K=LO9>eJF9@=RM9MK?=K;@DGKK=F  <MJ;@?=RA=DL=F JO=J:=AF=K:=KLAEEL=F+JG<MCL=K AJ?=F<=AF=F AF>DMKK9M>=AFHJAN9L=K(=<A=FMFL=J

F=@E=FF=@E=FRMCdFF=F  AF=;@AF=KAK;@=!=JF

K=@ &GFKME=FLAFC9FFA@J=-=?A=JMF? <A=>eJ<A= 1=JL=ADMF?<=JM<?=L?=D<=JRMKLaF<A?AKL FA;@LOa@

D=F  A=CD9KKAK;@=Xd>>=FLDA;@ J=;@LDA;@=S"=:e@J=F>AF9F

RA=JMF?AKL@A=JRMAE1=J?D=A;@<A=<=EGCJ9LAK;@KL=  .G@9:=F<A=^KL=JJ=A;@=J$FF=F AF>DMKK9M>XA@J=FS *-! .GMFL=JDA=?=F=LO9+M:DACMEKJ9LMF<.LA>LMF?K

J9L=AF=J<=EGCJ9LAK;@KLJMCLMJA=JL=F5MK9EE=FK=L

RMF? 9Je:=J@AF9MK=J:JAF?L<=J*-!=AF=F&MDLMJ

9M>LJ9? &=AF==EGCJ9LA=G@F=&MDLMJ &=AF=&MDLMJG@F= =EGCJ9LA=


   = E4)'40C*' 9K)36;A"G>FGD:3GE=J>eDDLVF=:=F9F<=J=F*-!

$FKLALMLAGF=FOA=:=AKHA=DKO=AK=<=E)*&.;7@VK=AL E=@J9DKR=@F%9@J=FB=F=FCMDLMJ=DD=F(=@JO=JL <=F KA;@<A=&GFKME=FL$FF=FNGF=AF=Ed>>=FLDA;@ J=;@L

DA;@=F ?=:e@J=F>AF9FRA=JL=F.=F<=JRM-=;@L=JO9J

L=F 'G4>;5-3>G7=:=F 9K)36;A"G>FGD:3GEAKLOA;@LA?=JFKHJ=;@H9JLF=J >eJ<A=dKL=JJ=A;@AK;@=&MDLMJKR=F=MF<:A=L=L<=F &eFKLD=J$FF=FFA;@LFMJ=AF=d>>=FLDA;@= KGF<=JF <MJ;@<A==F?=1=JF=LRMF?EAL<=F-9<AGK=F<=JF^  !(MF<9M;@^=AF=E=<A9D=+D9LL>GJEMF<MFL=J

KLeLRL<=F*-!:=AK=AF=Jd>>=FLDA;@ J=;@LDA;@=FM>

?9:=9DK&MDLMJHJG<MR=FL  KAKL2=JCKL9LL:e@F= 9M> <=J>eJ<9K-9<AGE9Z?=K;@F=A<=JL=+JG?J9EEO9J= HJG<MRA=JLOAJ< MF<.;@FALLKL=DD=ROAK;@=F<=E*-! MF<<=KK=F+M:DACME <9KKGEAL:=A<=JM>R=A;@

FMF?NGF-9<AGK=F<MF?=FG<=J:=A'AN= +JG<MCLAG

F=F@9MLF9@<9:=AK=AFC9FF -9<AGRMEF>9KK=F  #A=JO=J<=FF=M=CeFKLD=JAK;@=+JG?J9EE==FLOA

;C=DL BMF?=)9;@OM;@KCeFKLD=J$FF=FNGJ?=KL=DDL  K >AF<=FCGFLJGN=JKA=DD?=>e@JL="=KHJa;@=RM9CLM=DD=F AFF=FHGDALAK;@=F OAKK=FK;@9>LDA;@=FMF<?=K=DD

K;@9>LKJ=D=N9FL=F/@=E=FKL9LL $F<=FN=J?9F?=F=F R=@F%9@J=F?9:=K  1=J9FKL9DLMF?=F =KO9J=F

 =KM;@=J$FF=FRM"9KLMF<=KOMJ<=F   .LMF<=F-9<AGHJG?J9EE?=F=JA=JL  DK=NAK=?ADL1A=D=KAKLEd?DA;@ AF@9DLDA;@NA=DK=ALA?  9M>@G@=E)AN=9M EALBGMJF9DAKLAK;@=E5M?9F? A=+JG?J9EE@d@=HMFCL=9MK<=E%9@J "9KL

9M>LJALL=<=K.L9J<AJA?=FL=FMF<*J?9FAKL=F29QF= (9JK@9DD %G@F:=J;JGE:A=KNAJLMGK=K"AL9JJ=FIM9J

L=LL .N=F JA;=;@LGD>KDAL=J9JAK;@=K=:eL !J9FR &G?DE9FF:=AE!3LL H3@F93D67 7EF;H3> <9KX 'D; H3F=A@L7DFNGF*;?B>K)76 %3=76#G@5:EALF=M=J  ">3EE;E5:7-7D8_:DG@97@<=K)*&.;7@ #9FKA '9F?KDF?3@@ 1=JLGFMF?=F  JAC9+DM@9J @JAKL9 'M<OA? D>J=<GJ>=J &9L@9JAF9.L=E:=J?=JM N E A=1=JKGJ?MF?EALIM9DAL9LAN@G;@O=JLA?=J$F>GJE9LA

GFRa@DL>eJEA;@RM<=F"JMF<J=;@L=F<=J(=FK;@=F  N=J?D=A;@:9JEAL<=E<=EGCJ9LAK;@=F5M?9F?RM 29KK=JG<=JAD<MF? 0F<ME<A=K9M;@O=AL=J@AF Ed?DA;@RME9;@=F AKL<A=HGDALAK;@=.A;@=JMF?NGF -MF<>MFC MF<!=JFK=@?=:e@J=FMFME?aF?DA;@ 2=J =AF=Fd>>=FLDA;@ J=;@LDA;@=F.=F<=JOADD EMKKV=AF O=FA?V<9>eJ:=R9@D=F 

%.&/0&+" ,))".




E4)'400'0+/ 756#75%* /+6'&+'0/#%*'400'0 !1)47/.7:=5

9K &) ;3>A98ADG? AKL =AF= -=A@= d>>=FLDA;@ RM?aF?DA;@=J AKCMKKAG

F=F  =J =JKL= :=F< <A=K=J F=M=F *-! $FALA9LAN= AE =R=E:=J

 MF

L=J<=E/AL=D4>3EE>?AE7@A67D3=F;H7E7EF3>F7@1;H;>7E@9397?7@F ;?.3@67>KL9F<?9FRAE5=A;@=F=AF=KKA;@N=JaF<=JF<=F2=JL=C9L9DG?K MF<F=M=J!GJE=F?=K=DDK;@9>LDA;@=J=L=ADA?MF?  K<AKCMLA=JL=FFF=DA=

K= -G@J=J %GMJF9DAKLAF  !J9FR &e:=JD 3D;F3E +JaKA<=FL  #9FK +=L=J #9

K=DKL=AF=J 0FL=JF=@E=J  EE=JA;@ /`DGK +GDALACOAKK=FK;@9>L=J  #=AC= 5AJ<=F =F;A@ $7@E5:  +JGB=CLD=AL=JAF <=J $FALA9LAN= 6;77E7>>E5:38F7D 67 MF<%dJ?-MEAF9C*-! #ME9FAL9JA9FJG9<;9KLAF?MFL=J<=J'=ALMF?NGF &) @8AD?3F;A@E6;D7=FAD DE9J*:=J@9MK=J

!),17=4<=:0)=; (A34=;"K,;<

$FRO=AKHJ9;@A?=F'=KMF?=FMF<$FL=JNA=OKOMJ<=

<9KR=AL?=FdKKAK;@= DAL=J9JAK;@='=:=FNGF'aF<=JFNGJ?=KL=DDL <=J=F&MDLMJE9F@A=JC9MEC=FFL D:9FA=F (GD<9OA=F (GFL=F=?JGMF<K=J:9A<K;@9F  KCGFFL=FX:DAF<=!D=

;C=FS9M><=JCMDLMJ=DD=F'9F<C9JL==FL<=;CLO=J<=FMF<FCFeH>MF?KHMFCL= EAL9MKDaF<AK;@=F'AL=J9L$FF=FMF<_:=JK=LR=J$FF=F?=>MF<=FO=J<=F

!),17=4<=:0)=; %-:4-10=6/,-:"7B1)4):1-

5ME<JALL=F(9DOMJ<=F

CJ=9LAN=MF<AFFGN9LAN=.GRA9DHJGB=CL=EAL<=J *AL;3>$3D;7<=J,@DG:7 'D;H3FEF;8FG@9:=DG@FL =F=JKL=F+D9LR=J@A=DLAF<A=

K=E%9@J<=J1=J=AFA@@75F;@9'7AB>7 <=JKA;@ME+9L=FK;@9>L=F>eJEAF<=J

Ba@JA?=!De;@LDAF?=G@F=F?=@dJA?=:=Ee@L 

!),17=4<=:0)=; :-)3!),17

D73=)36;AAKL=AF=EGF9LDA;@=.=JNA;= 1=J9FKL9DLMF?<=K)">eJ(=FK;@=F EAL=@AF<=JMF?  KCGEE=F"aKL=9MK.=D:KL@AD>=?JMHH=F (=<ARAFMF<"=

E=AF<=HGDALAC (=FK;@=FEAL:=KGF<=J=F=<eJ>FAKK=F>AF<=F@A=J$F>GJE9LA

GF (=AFMF?K9MKL9MK;@MF<)=LOGJCAF? 

:-16-+3-:"-617:-68:-1;

$F "=<=FC=F 9F K=AF= N=JKLGJ:=F= @=>J9M (9JA9  <A= =AF= :=KGF<=JK LJ=M= .=@=JAF<=J*-! .=F<MF?*7@;AD7@5>G4O9J :=K;@DGKK<=J2A=F=J!JALR"J=A

F=;C=J =AF=F*7@;AD7@5>G4 +J=AKRMKH=F<=F 9EALKGDD=F+=JKdFDA;@C=A

L=F?==@JLMF<9MK?=R=A;@F=LO=J<=F <A=<MJ;@A@JX?=D=:L=K F?9?=E=FLS (ALE=FK;@=F @=D>=F MF< 1GJ:AD< >eJ <A= "=K=DDK;@9>L KAF<  E  %MDA

 e:=JJ=A;@L= *-! "=F=J9D<AJ=CLGJ J  D=P9F<=J 2J9:=LR <=F EAL AFK?=K9EL

 MJG<GLA=JL=F+J=AK9F(A;@9=D'9F<9M 3D;F3E AJ=CLGJ<=J JR<AdR=K= 2A=F  N=DQF #9Q<=F  "=K;@a>LK>e@J=JAF MF< 1GJKL9F<KNGJKALR=F<= NGF;7 1I7;F7.;7@7D-7D7;@E *B3D53EE7 MF<&9JD9FL=F<GJ>=JNGFBDA?7@F7.;7@ 

G 7=6<)165)61)

9K ;FD36;A X  KM;@L <=F +M:DACMEKCGFL9CL FA;@L FMJ e:=J <=F \L@=J  KGF

<=JGJ?9FAKA=JLB=<=K%9@JRO=A&GFR=JLLGMJ=F ME<A=(=FK;@=FNGJ*JLRMMF

L=J@9DL=F $E!=:JM9JLGMJL=<A=X $AG@F3;@?3@;3EAL(MKAC9MK^KL=JJ=A;@ :=A>J=A=E AFLJALLOA=<=JNA=JE9D<MJ;@<9K'9F< (AL<9:=AO9J=F@=AEAK;@= &eFKLD=JOA=<A=X *AG@65:75= /=ADF=@E=J*:7*3KE *:;H7D #7AMF<J5GE7 ?7 $AE7E  9MZ=J<=E $A@6E5:7;@7D  $ADFA@  #GFF7@47D97D">G9 MF< 1I7;F 8D3G .L9LAGFOMJ<=AF#9MKAE FFKL9D AF'=JEGGKMF<9E)9KK>=D<?=E9;@L




.GEE=JR=AL@=AZL7EF;H3>D36;A9M>!( A=:=KL=F!=KLAN9DKO=J<=FNGF!( AFA@J=J?9FR=F1A=D>9DL?=OeJ<A?L A=$ 7EF;H3> -=HGJL=J$FF=F:=JA;@L=F NGJ *JL NGF <=F K;@dFKL=F (GE=FL=F  ?JdZL=F 9EHAF?HDaLR=F MF< =J?J=A

>=F<KL=F &GFR=JL=JD=:FAKK=F  9RM ?A:LK $FL=JNA=OK  #AFL=J?JMF<:=JA;@L=  'AN= (ALK;@FALL=  /A;C=LN=JDGKMF?=F MF< <A= 'A=:DAF?KHD9LL=F <=J !=KLAN9D

:9F<K -MF<ME<A=!=KLAN9DK?A:LK9M;@<AN=JK=CLAGF=FMF<.H=;A9DK =LO9 <9K$ 7EF;H3>:3@6K <9K$ GFA9D3??L7>FG<=J<9K$ 'AEF3?F 'AN=

=JA;@L=JKL9LLMF? ?9: =K

 =LO9 e:=J <9K$  D7CG7@5K9E .9DR:MJ?

-AF? <9KEBD;@9E7H7@AF"J9R <9KA@3G;@E7>87EFAF2A=FM N 9

G 1+361+3

;FD36;AX AKL9M;@

EAL=AF=E:=DA=:L=F*>> AJ N=FL>eJ<A=?9FR=!9

EADA=AF<=F!Je@DAF??=KL9JL=LEAL<=EX ';5=@;5= 9KX *FG6;A8_D";6E  :=A<=E<A=&AF<=JEALA@J=F=A?=F=F$FL=JNA=OKX-=HGJL=JKHA=D=FSCGFFL=F  =AF=G;;A9 9@F9M>.9F<MF<=AF-A=K=F (=EGJQ .HA=D>eJ<A=&D=AFKL=F O9J=FEAL<9:=A A=+A;CFA;C<=;C=FOMJ<=FAF"J9R .9DR:MJ?MF<2A=F9MK

?=:J=AL=L  

   = E4)'40C*'

 -;<1>)4:),17

76.-<<1)=.#7=:

9K :=DA=:L= MK@aF?=K;@AD< <=J &) ";@67DE7@6G@97@ LGMJL= 9M;@

 <MJ;@ ^KL=JJ=A;@ MF< N=J9FKL9DL=L= !9EADA=FL9?=  :=A <=F=F &AF<=J XA@J=S *-! .L9JKLJ=>>=FCGFFL=F $E.GEE=J

E9;@L=A@87FF;3G8+AGDAFJMFF 9E"=:AJ?= .;@D9<EAF? 'MLRE9FFK:MJ? 29A<@G>=F9F<=J4::K 2A=FMF< DM<=FR.L9LAGF

G 5-;8:I+0

eJ?=J$FF=F<A==LO9KRMK9?=F@9:=F =F?9?A=JL=(=FK;@=FMF<@dJ=FKO=J

L=5=AL?=FGKK$FF=F=A ?7EBD[5:GFF=JKL9?  

V

0@JO9JL=L E9FN=J?=:DA;@9M><A=KL9F<9J<AKA=JL=F* /dF=<=J?=@G:=F=F"=K=DDK;@9>L  #A=JR=A?LKA;@eJ?=JFa@=AF<=JMKO9@D<=J"aKL= <A=EALA@J=F1GJ@9:=F  '=:=FK?=K;@A;@L=FMF<9CLM=DD=F+JGB=CL=F=AF=F=ALJ9?RMJ"=KL9DLMF?MF

K=J=J"=K=DDK;@9>LD=AKL=FMF<RMJ&MDLMJ:=ALJ9?=F A=^.=F<MF? ?7 EBD[5:>=A=JL=

A@J=F "=:MJLKL9?AE)36;A"G>FGD:3GE (A;@9=D&=J:D=J KHJ9;@EALK=AF=E"9KL-=AF@GD<(=KKF=Je:=J=<JG@MF?MF<29F<=D<=J )9LMJ<MJ;@<A=&DAE9N=JaF<=JMF?=F

,-*)<<-!)<

$E-9@E=F<=JIM9DALaLKe:=JO9;@L=F!GJ=FMF<=:9LL=F <A=&) 3FRMJ1=J

>e?MF?KL=DDL KAF<0K=J$FF=F@=JRDA;@=AF?=D9<=F KA;@9EAKCMJKe:=J<9K ?=K=DDK;@9>LDA;@= MF< HGDALAK;@= "=K;@=@=F AF ^KL=JJ=A;@ RM :=L=ADA?=F  M> <A=K=E 2=? O=J<=F <A= eJ?=J$FF=F AF <9K (=<AME =AF?=:MF<=F MF< KAF< /=AD<=JHM:DARAKLAK;@=F'=AKLMF?<=K*-! A=*-! !GJ=F?DA=<=JFKA;@AFR9@D

J=A;@=/@=E=F:=J=A;@=.;A=F;= ^ MF<=KDaF<=J9F?=:GL=Y KG<9KKKA;@ B=<=$FL=J=KK=F?JMHH=AFA@J=E=J=A;@9MKL9MK;@=F AF>GJEA=J=FMF<MFL=J

@9DL=FC9FF

!&-*+);<3<176E)0=6,,7+0.:-5,D?);)6,-:-/4)=*-6C

X"A@EG?7@F7@ I7D67@ 'DA6GL7@F7@S  <9K AKL <9K (GLLG <=J.7453EF CLAGF  <=J*-! #9MHL9:L=ADMF?)7>;9;A@AE!=JFK=@=F A=1GJ9MKK=LRMF?=F>eJ=AF= /=ADF9@E=KAF<=AF=$<== =AF=1A<=GC9E=J9MF<=AF.;@FALLHJG?J9EE A= 5MK=@=J$FF=F O=J<=F =AF?=D9<=F  9: KG>GJL =A?=F= 1A<=GK RM HJG<MRA=J=F  <A=9M><=J$FL=JF=LHD9LL>GJE<=J:L=ADMF?)7>;9;A@?=R=A?LO=J<=F MK?=

Oa@DL==ALJa?=O=J<=FAF<=F.=F<MF?=F&D;7@F;7DG@9MF<=D7GLG@6CG7D 9MK?=KLJ9@DL 


=.<:)/  







 

-1;<=6/ 

   

   

   

   

   

&MFKL &MDLMJ &J=9LANALaL>eJ(=FK;@=F  FA;@L>eJ(9JCL9FL=AD= &MDLMJHJGNGC9FLG@6LJ9<ALAGF=DD  K;@dFG@69F<=JK  AF@9DLKK;@O=JG@6?=<9FC=FD=A;@L  N=JKLaF<DA;@G@6CJ=9LAN  @G;@?=AKLA?G@6NGDCKN=J:MF<=F

-0:?-:< $#$!$#!  2-6;-1<;,-: =7<-

G$87-.;>5=>;4O77=.6*7<*0.7<2.<.2!277>7-.<,16*,4*6*<.27><=*6 .+.7.>02.;-.*>/-*<@*<78,14866=1*7=*<2.27-.;.>=>70-.<#7*+ @.7-+*;.7>,1-*<+;*>,1=3.-.;-.;72,1=27.27.;%.5=5.+.7>7-<=.;+.7@25527 -.;@2.+.2*/4*>;2.;..27*7-.;>7?.;<=N7-52,10.@8;-.7.8=<,1*/=.7C><=.55.7 !.;?2,.>+52,+.-.>=.=>5=>;*><-.;2<,1.-.;!9.C2*52<=.7>7-A9.;=.71.;*>< C>185.7>7-<2.C>.27.670.+8=/P;-2.550.6.271.2=C>6*,1.7D <8*6*;=27G.5?.-.;.*<<,1O7..;7<.1.7D




=J*-! &MDLMJ9M>LJ9??ADL>eJ9DD=AF<=J"=K=DDK;@9>L  9K.;@dF= 29@J=MF<"ML=AKLFA;@LFMJ#G;@?D9FRHJG

<MCL>eJ<A=G:=J=F5=@FL9MK=F< KGF<=JF=AFF?=:GL 9F9DD==NdDC=JMF?KK;@A;@L=F $F>GJE9LAGFe:=JMF< CJ=9LAN=MK=AF9F<=JK=LRMF?EAL/@=9L=J !ADE *H=J  (MKAC <9JKL=DD=F<=JMF<:AD<=F<=J&MFKL 'AL=J9LMJ  -=DA?AGF +@ADGKGH@A= /9FRMF<DDL9?KCMDLMJKAF<R=FL

J9D=1=JH>DA;@LMF?=F>eJ<=F*-!V9M;@B=FK=ALKNGF ,MGL=FMF<(9JCL9FL=AD=F  AFM>LJ9? <=F<=J*-!9M;@L=ADLMF<O=AL=J?A:L9F+JG

<MR=FL$FF=F &MFKL MF<&MDLMJK;@9>>=F<= 9F<A=&J=9LAN

OAJLK;@9>L 

:)3<1;+0-:=<B-6 

&MDLMJ &MFKLMF<&J=9LANALaL9DKMFN=JRA;@L:9J=J MF<RM?aF?DA;@=J/=AD<=Kd>>=FLDA;@=F'=:=FK




7.674*'4814$4+0)'0

G#7<.;&2.56><<<.27>5=>;72,1=7>;*+C>+25 -.7<87-.;7*>,11.;?8;C>+;270.7D

 .0&+.4)  1)01.

<A=&MDLMJK=F<MF?=FR=AL?=EaZ=J=JK;@=AF=FRMD9K

K=FMF<AF@9DLDA;@9M>F=M=/@=E=FRMK=LR=F )9LeJ

DA;@KGJ?L=<9K9F>9F?K9M;@>eJ$JJAL9LAGF  K?A:L C9ME=AF@=L=JG?=F=J=KMF<CJALAK;@=J=K+M:DACME 9DK<A=&MDLMJCGFKME=FL$FF=F 0EKG=J>J=MDA;@=JAKL <A=/9LK9;@= <9KK<A=F=M=FF?=:GL=AEE=J:=KK=J 9F?=FGEE=FO=J<=F 2=FFE9F<A=+JG?J9EE=AFL=JF9LAGF9D=J/1 F:A=L=J :=LJ9;@L=L OAJ<C=AF5O=A>=D<9Je:=J9M>CGEE=F  <9KK<A="G>FGDRME&=JF:=J=A;@<=Jd>>=FLDA;@ J=;@L

DA;@=F.=F<=9FKL9DL=FRa@DL &GEE=JRA=DDGJA=FLA=JL= (=<A=FMFL=JF=@E=F@9DL=FKA;@C=AF=&MDLMJ G<=J (MKACJ=<9CLAGF=F M;@<=J.L99L@aDL&MFKLMF<&MD

LMJ>eJ@d@=J= ?=K=DDK;@9>LKHGDALAK;@:=<=ML=F<= "eL=J <A=MFL=JKLeLRLO=J<=FEeKK=F MEFA;@LJ=AF ?=K;@a>LKGJA=FLA=JL=F5OaF?=FRMMFL=JDA=?=F =K@9D:NGF<=J/9LK9;@=9MKRM?=@=F <9KK<A=&MD

LMJAE!=JFK=@=F=AF?=K;@eLRL=J K9CJGK9FCL=J =J=A;@AKL OaJ=<=J>9DK;@=FK9LR M;@<A=&MDLMJ EMKKA@J+M:DACME>AF<=F KGFKLOaJ=KA=AEd>>=FL

DA;@ J=;@LDA;@=F&GFL=PLRO9JJ=;@LDA;@ 9:=JFA;@L E=@Jd>>=FLDA;@ 9@=JAKL=AFG>>=FKAN=J0E?9F?EAL CMDLMJ=DD=F$F@9DL=FMF< FLOA;CDMF?=FMFME?aF?

DA;@ A="=K=DDK;@9>LMF<<A=FLOGJL=F<=J&MDLMJ

K;@9>>=F<=FaF<=JFKA;@MF=FLO=?L $FKR=FA=JMF?=F  MKKL=DDMF?K9J;@AL=CLMJ=FMF<EMKAC9DAK;@==MLMF

?=FHJaK=FLA=J=FKA;@@=ML=NdDDA?9F<=JK9DKFG;@ NGJ>eF>G<=JR=@F%9@J=F ?9FRRMK;@O=A?=FNGF<=F AF@9DLDA;@=F.;@O=JHMFCL=F  AFO=K=FLDA;@=K&JAL=JA

ME:=A<=J::AD<MF?CMDLMJ=DD=J1GJ?aF?=AKL<9@=J <A=29;@K9EC=AL  K?ADL 1=JaF<=JMF?=FAF<=J "=K=DDK;@9>LJ=;@LR=ALA?RM=JC=FF=F AE$<=9D>9DD KG?9JEALRMHJa?=F (9FEMKK<=F(ML@9:=F  :=Oa@JL=+>9<=EALMFL=J9M;@RMN=JD9KK=F MEFA;@L AJ?=F<O9FF<=E5M?<=J5=AL@AFL=J@=JRM@=;@=DF 9K%9@J O9J=AF?ML=K=AKHA=D<9>eJ .aELDA;@= &MDLMJ9F?=:GL=<=K*-! !=JFK=@=FKOMJ<=FCJa>LA? e:=J9J:=AL=LG<=JNdDDA?F=M9M>?=KL=DDL 9K5A=DO9J  

9K<=ML=L=AF=JK=ALK9M>=AF=F"=Od@FMF?KHJGR=KK @AF 9F<=JK=ALK9M;@9M>=AF=,M9DALaLKKL=A?=JMF?MF< =AF=KLJAF?=FL=J=5A=D?JMHH=FGJA=FLA=JMF? (AL<=J +JG?J9EEJ=>GJEAEHJADOMJ<=FF=M=!GJE9L= ?=K;@9>>=F <A=<9K.H=CLJME>eJ<A=CMDLMJAFL=J=K

KA=JL=F5MK;@9M=J$FF=F<=MLDA;@=JO=AL=JL@9:=F1GF <=J PH=JAE=FL9D>ADEF9;@L:AKRMJ*H=JFe:=JLJ9?MF?  NGEGCME=FL9J>ADE:AKRME&MDLMJC9D=F<=J NGE (9?9RAF:=ALJ9?:AKRMJ@9D:KLeF<A?=F-=HGJL9?=  +GKALANAKLAF<A=K=E5MK9EE=F@9F?RMN=JE=JC=F  <9KK<=J?=K9EL=*MLHML<=J"G>FGD34F7;>G@99M;@ IM9FLAL9LAN?=KLA=?=FAKLMF<RO9JMEE=@J9DKR=@F +JGR=FL?=?=Fe:=J   =J&J=9LANO=JL=AF=Kd>>=FLDA;@ J=;@LDA;@=F(=<A=F

MFL=JF=@E=FKR=A?LKA;@9:=JFA;@L9DD=AFAF<=J-=>D=

PAGFCMDLMJ=DD=J1GJ?aF?=AF!GJENGF9MK?=OG?=F=J =JA;@L=JKL9LLMF? 0FK=J5A=DEMKKK=AF &MDLMJFA;@L FMJ9:RM:AD<=F KGF<=JF9M;@@=JNGJRM:JAF?=F  AF =AKHA=D<9>eJO9J<A=!MZ:9DD *H=J'>3K;@9I3K:=A <=FD797@L7D7EFEB;7>7@ <A=<MJ;@AFL=FKAN= 5MK9EE=F9J:=ALEAL<=F1=J9FKL9DL=JFRM=AF=E AFL=JE=<A9D=F+JGB=CLOMJ<= A=&9E=J9L=9EKOMJ

<=FAFL=?J9D=J=KL9F<L=AD<=J$FKR=FA=JMF?MF<DA=

>=JL=F'AN= AD<=J9M><=Je@F= <A=>eJMFK9DK "JMF<D9?==AF=J=A?=F=FCGEE=FLA=JL=F/1 *H=JF

>9KKMF?<A=FL=F .G=FLKL9F<=AF J=A?FAK <9K=K G@F=!=JFK=@=F?9JFA;@L?=?=:=F@aLL= (ALKGD;@=F CLAGF=FKHJ=F?L<=J*-!KG?9J<A="J=FR=F<=K=A?=

F=F(=<AMEKMF<K;@9>>LCMDLMJ=DD=F(=@JO=JLAE d>>=FLDA;@=F-9ME 

.0&+.4)


=4<=:576<)/

=J "G>FGD?A@F39 AF *-!   V;9    0@J  *-!  AKL NA=DK=ALA? MF< K=AL

F=MA=5MK9EE=FKL=DDMF?<=J-M:JAC=F>747@E 3DF 3DF 97@AEE7@ MF<3DF 8;>?AF<=J"G>FGD?A@F39 !Da;@=OAJ<9F@9F<<=J/@=E=F<=J2G;@= =FLKHJ=;@=F<N9JAA=JLMF<C9FFKG9M>9CLM=DD= J=A?FAKK=MF<R=AL9:@aF?A?= .;@O=JHMFCL=J=9?A=J=F (9JLAF/J9PDMF<D9JAKK9.L9<D=J>e@J=F<MJ;@<=F :=F< <=KK=F/@=E=FFA;@LFMJNGE&MDLMJC9D=F<=J KGF<=JF9M;@NGF?=

K=DDK;@9>LDA;@=FMF<CMDLMJHGDALAK;@=F FLOA;CDMF?=F:=KLAEELO=J<=F >747@E 3DF <9KCGEH9CL=&MDLMJE9?9RAF

0@J AKL>=MADD=LGFAKLAK;@ @AF

L=J?JeF<A?MF<J=>D=PAN 

   ='4#06914670) =7.674#7(64#)   

7.674?0+%*6074+00'7'/'9#0&

3DF 97@AEE7@ :A=L=L AE FK;@DMKK =AF=F N=JLA=>=F<=F AF:DA;C AF <9K /@=E9 <=K"G>FGD?A@F39 "=:GL=FO=J<=FG>L=A?=FKHJG<MRA=JL=GCME=FL9LAGF=F MF<-=HGJL9?=F <A=G>LO=FA?:=9;@L=L=.;@9LLA=JMF?=F<=KCMDLMJ=DD=FDD

L9?K9MKD=M;@L=F

38>/<1<?8."2C>273=3>G.95F67=:/D3+6  =JDAF=J&AF<=JMF<%M?=F<DA;@=9MK )9LAGF=FL9FR=F$?GJ.LJ9OAFKCQK#7*35D76G'D;@F7?BE  ;@GJ=G?J9H@A=JL NGF -GQKLGF (9D<GGE MF< :=?D=AL=L NGF <=F =JDAF=J +@AD@9JEGFAC=JF EAL A@J=E @=><A

JA?=FL=F .AJ .AEGF -9LLD= V =AF !ADE e:=J <A= !9KRAF9LAGF <=J (MKAC  =AF &AFG=JD=:FAK NGDD=J '=A<=FK;@9>L  -=KH=CLMF<'=:=FK>J=M<=MF<=AF=@AFJ=AZ=F<='A=:=K=JCDaJMF?9F<A=L9FR=F<=F/==F9?=JMF<A@J=(=FLG

J$FF=F ?=K=F<=L9E (9A

 

):<.145

=J(GFL9?9:=F<:A=L=LF=:=F<=J=JA;@L=JKL9LLMF?e:=J&MFKLMF<&MDLMJ F9LeJDA;@9M;@K=D:KLCeFKLD=JAK;@ CMDLMJ=DD=+JG<MCL=RME"=FA=Z=F  $F3DF 8;>?OA<E=LE9FKA;@<=J!ADECMFKL =AF=J.H9JL= <A=NGF<=F!=JFK=@

KL9LAGF=FG>LFMJKLA=>EeLL=JDA;@G<=JE=AKL?9JFA;@L:=@9F<=DLOAJ<  3DF 8;>?AKL<9K!GJME>eJ!=KLAN9D>ADE= $F<=H=F<=FL MF<HJ=AK?=CJdFL=JL@9MK

+JG<MCLAGF=FAE*-! 

R=A?L=3DF 8;>?MFL=J9F<=J=E>GD?=F<=/AL=D  ǯ3E

H3@97>;G?Q$3FF:[GE NGF+A=J+9GDG+9KGDAFA  ǯ)GE:?AD7 NGF2=KF<=JKGF  ǯD;63 NGF%MDA=/9QEGJ=  ǯ7D#;747E4D;78 NGF+=L=J@9F  ǯ'A>>A5= NGF <#9JJAK

4-;):<

.=AL(GFL9? <=E *CLG:=J



0@J *-!  :A=L=L>7E 3DFNA=JE9D Ba@JDA;@=AF=F=:=FKGAF>GJE9LAN=FOA=MFL=J@9DLK9E=F(AP9MK?=KL9DL=L=F =ALJa?=F "=KHJa;@=FMF<'=KMF?=F:=C9FFL=JMLGJ$FF=F +JGEAF=FL=J(G

<=J9LGJ<=JF=M=F'AL=J9LMJK=F<MF?AKL<=J.;@9MKHA=D=J +JG<MR=FLMF<.aF

?=JA=L=J(GGJ <=J>eJ<=F*-!:=J=ALK<A="G@EF *F_5=7HJaK=FLA=JL= 


0744'070&744'0? +6'4#6748'4/+66.70)+/#&+1 G2=><7*16.-.<O;<92.5<?2.55.2,1=-*< .27..20.7<=N7-20.;*-289187.2=.;*=>;/8;6 ;.9;N<.7=2.;=-2.7=2=.;*=>;26 *-28-.; $8;+.;.2=>70-.;>/+.;.2=>70-.;2=.;* =>;?.;62==5>70D

"0".)"&+ :&0".01.<./-&")1+! "01."

DK'AL=J9LMJ MF<#dJKHA=DJ=<9CL=MJ:J9M;@LE9FNGJ 9DD=E=AF=K=AF<A;C=K!=DD 0F<=AFKL9:AD=K"=EeL  =FFF9LeJDA;@e:=JOA=?=F<A=&D9?=F =J-MF<>MFC  K9?=F<A=MLGJ$FF=FVMF<EALMFL=J9M;@<=J=F1=J

D=?=J$FF=FV K=F<=L=FLO=<=JRMO=FA?'AL=J9LMJ G<=J O=FFK;@GFFA;@LRMO=FA? <9FFAFB=<=E!9DD <A=>9DK;@= 0F<O=FFK;@GFFA;@L<A=>9DK;@=<9FF RMJ>9DK;@=F/9?=KR=AL 5M>Je@ RMKHaL 9E>9DK;@=F 2G;@=FL9?  (AL!9CL=FAKL<A=K=J&JALACFMJK;@O=J:=ARMCGEE=F  2=D;@=MLGJAFMF<O=D;@=FMLGJ <=J=FG<=J<=K

K=F(9FMKCJAHLOAJFA;@L9F?=FGEE=FMF<<=J=F G<=J<=KK=FM;@OAJFA;@LO9@J?=FGEE=F@9:=F  AFL=J=KKA=JLK;@GF<A=/9LK9;@= <9KK^AFE=@J9DK =AF=EMLR=F<.=F<=J=A@=F#;F7D3FGDK=F<=LG<=J <9KK^%9@J>eJ%9@JCF9HH=AFL9MK=F<e;@=JNGJ

KL=DDLMF<:=KHJA;@L )9;@OA=NGJK=F<=L^Ba@JDA;@ 9F<A=@MF<=JL#dJKHA=D= HGJLJaLA=JLA;@L=J$FF=F  K=F<=L1=JD=?L=KMF<0FN=Jd>>=FLDA;@L=K KH9FFL<=F G?=F<=J'QJAC29DL@=JKNGF<=J1G?=DO=A<=e:=J -ADC=MF<"GLL>JA=<=FF:AKRMFFGLL=FMF<!=J<A

F9F<.;@E9LR (9F;@=MFK=J=J'AL=J9LMJK=F<MF?=F =JJ=A;@=FE=@J9DK #dJ=J$FF=F 9F<=J=OA=

<=JMEEeKK=FKA;@EAL=AF=E5=@FL=D<A=K=K+M:DA

CMEK:=?Fe?=F A=+JG?J9EEJA;@LDAFA=F<=K*-! K;@J=A:=FMFKN=J:AF<DA;@NGJ <9KKX47;67D'DA 9D3??97EF3>FG@9TD7>7H3@F797E7>>E5:38F>;5:7 BA>;F;E5:797;EF;97G@6=_@EF>7D;E5:7*FD^?G@97@LG 47D_5=E;5:F;97@E;@6S  'AL=J9LMJ MF<&MDLMJBGMJF9DAKEMKMFL=JK;@=A<=FKA;@ FA;@L?JMF<KaLRDA;@NGF9F<=J=FBGMJF9DAKLAK;@=F  

.H9JL=F  J=A?FAKK=MF<+@aFGE=F=O=J<=FO9@J?=

FGEE=F :=O=JL=LMF<:=JA;@L=L "D=A;@R=ALA?9:=J AKL<=J-MF<>MFC9M;@M>LJ9??=:=JMF<+JG<MR=FL  1GJ9DD=EAE^DEB;7>?=F=JA=JLMF<H>D=?L<9K-9<AG =AF"=FJ= <9K=KFMJAF=:=F<A=K=E?A:L $E-MF<

>MFC?=@L=K<9@=JFA;@LFMJME<A=1=JL=ADMF?NGF M>E=JCK9EC=AL =K?=@L9M;@ME<A=1=JL=ADMF?NGF "=D<  K>DA=ZL9F<A=1=JD9?= 9F<A=1=JO=JLMF?K?=

K=DDK;@9>L=FMF<9F<A=MLGJ$FF=FK=D:KL =FFG;@ C9FF 9M;@AF+@9K=FH=JE9F=FL@=J9F:J9F<=F<=J .H9JO=DD=F AE-9<AG"=D<N=J<A=FLO=J<=F 2=FF 9M;@VMF<<9KAKLG@F=!J9?=<A=:ALL=JKL=9DD=J&D9

?=FVFA;@L?=J9<=NA=D =J1=J?D=A;@EAL<=F#GFGJ9

J=F<=J-E9;@LMFKMFKA;@=J  K?A:LC9MEFG;@ -9<AG &eFKLD=J$FF=F <A=NGFA@J=JJ:=ALD=:=FCdF

F=F _:=JCMJRG<=JD9F?OAJ<<=Jd>>=FLDA;@ J=;@LDA

;@=-MF<>MFCKA;@e:=JD=?=FEeKK=F OA==JRM<=F CJ=9LAN=F&dH>=F<A=K=K'9F<=KKL=@L 5ME=AF=F 9J:=AL=F<A=A;@L=J$FF=FVO=FF9M;@ KA=@=G:=F  ?=D=?=FLDA;@CFMJJ=F<MF<EMJJ=F<VK=ALE=@J9DK 9;@L%9@JR=@FL=FCGFLAFMA=JDA;@>eJ<9K-9<AG RME 9F<=J=FOAJ<'AL=J9LMJAE-9<AG OA==FLKHJ=;@=F<= ,M9DALaLK=J@=:MF?=F=AF<JM;CKNGDD:=O=AK=F RMEAF

<=KLNGE^+M:DACME9MZ=JGJ<=FLDA;@HGKALAN :=O=JL=L  AF=J<=J"JeF<=DA=?LKA;@=JAF<=J*JA=F

LA=JMF?K>MFCLAGF <A=<9K-9<AG:A=L=L DD=AFOa@

J=F<<=JD3@=8GDF7DG5:?7EE7O=J<=F%9@J>eJ%9@J 9F<A= e;@=JNGJ?=KL=DDL M;@<A=D=A<=F

K;@9>LDA;@KL=F'=K=J$FF=F:J9M;@=F=AF=F.=D=CLAGFK  MF<=O=JLMF?KE=;@9FAKEMK <=EKA=N=JLJ9M=F CdFF=F 9RMCGEELFG;@=AF9F<=J=KO=K=FLDA;@=K D=E=FL -9<AGE9;@L'AL=J9LMJ@dJ:9J  AF.H=RA>ACME <9KKA;@<=Je:=J:GJ<=F<=#dJ:M;@

E9JCL KHaL9:=J<G;@ =:=F>9DDKRMFMLR=E9;@L =F

FG;@DA=?L=KMFK>=JF MFK$DDMKAGF=F@AFRM?=:=F (AL MKF9@E=<=K#dJKHA=DKNA=DD=A;@L <9K=AF==A?=F

KLaF<A?=J9<AGH@GF='AL=J9LMJ>GJEJ=HJaK=FLA=JL  <A=FL'AL=J9LMJAE-9<AG<=J1GJ:=J=ALMF? <=JM>:=

J=ALMF? <=J1=JEALLDMF? <=J2=J:MF? -9<AG@dJ=F C9FF<A='=CLeJ=FA;@L=JK=LR=F 

"0".)"&+


G =6;<:),17

A=.=F<MF?.GFFL9?  V 0@J>=A=JL=

A@J

Ba@JA?=K=KL=

@=F  +JaK=FL9LAGF CeFKLD=JAK;@=J -9<AG9J:=AL=F NGF &eFKLD=J$FF=F 9MK <=F MFL=JK;@A=<DA;@KL=F .H9JL=F ;>67@67 "G@EF  #;F7D3FGD  $76;7@=G@EF MKO   KGOA='AN= *F AJ *FDAF= *F .AL= &MFKLHJGB=CL= <A=KA;@CeFKLD=JAK;@EAL <=J&GFN=J?=FRNGF9DLMF<F=M:=>9KK=F ?=@dJ=FRM<=F$F@9DL=F<=J-=A

@= 0FL=J<=E/AL=D;7.;767D=7:D67D6D3:F>AE7@3@F3E;7Q !3:D7)36;A >9F<NGF :AK %9FM9J

<A=1=J9FKL9DLMF?$76;7@ "G@EF ADE5:G@9 AF5MK9EE=F9J:=ALNGFX "G@EFD36;AMF<<=E#G6I;9A>FL?3@@ @EF;FGFAE )36;A"G>FGD:3GE9MKFD9KKNGF

%9@J=F-9<AGMF< %9@J=F^KL9LL

   ='4#06914670) =7.674#7(64#)   

D47.674

G );<1++17

A=.=F<MF?(GFL9?:AK.9EKL9? 

V

0@JAKLE=AKL=AF=EKH=RA

=DD=F/@=E9<=J(MKAC?=OA<E=LVRME=AKHA=D=AF=J.LAEEMF? <=J+9MK=  =AF=E?=OAKK=F/9CLG<=J?9FR=F HG;@=F

1<-:)<=:16G

)=:=F <=F :=C9FFL=F .=F<=J=A@=F OA= )36;A97E5:;5:F7@  ^DEB;7> *FG6;A  ^DEB;7> 3>7D;7MF<7;EB;7>7KL=DDL#7E7BDA47=AF=M;@F=M=JK;@=AFMF?9MK =AF=E dKL=JJ=A;@AK;@=F 1=JD9? .;@O=JHMFCL &D=AFN=JD9?= <MJ;@ MLGJ=FAF

L=JNA=OMF<'=KMF?NGJ +7DD3;@5A9@;F3>=A=JL=

<9K

Ba@JA?==KL=@=F MF<OA<E=L=KA;@MFL=J9F<=J=E<=J'AL=J9LMJ9MKMD?9JA=FMF<-MEaFA=F  9M;@+7JF7MF<+A@EBGD7@KL=DD=FDAL=J9JAK;@=2=JC=NGJ

G 4);;13#:-..8=63<

A= -9<AGK=F<MF?  <A= B=<=F .9EKL9?  V   0@J 9:O=;@K=DF< NGF *LLGJMK9LLAMF<#9A<=/=FF=JEG<=JA=JLOAJ< >AF<=L:=A>J=A=E AFLJALLNGJ +M:DACMEAE&)"G>FGD387KL9LL !AP=J=KL9F<L=ADB=<=JMK?9:=AKL?=?=F F<=<=J.=F<=R=AL=AF,MAREAL=AF=ECMJR=F#dJKLe;C <9KEAL<=J67D .A5:7AF1=J:AF<MF?KL=@L O=D;@=<=E <=J"=OAFF=J$F9M;@9DK+J=AKOAFCL

G =074,-=6;<

A='QJACK=F<MF?OAJ<B=<=F.GFFL9?MF<9F!=A=JL9?=F

V 

0@JAF ^9MK?=KLJ9@DL  JKLE9DK?=K=F<=L @9F<=DL=KKA;@ME<A=aDL=KL=J=

?=DEaZA?9MK?=KLJ9@DL=-9<AGK=F<MF?<=K*-! $F@9DL<=J-=A@=KAF<NGF:=

C9FFL=F.;@9MKHA=D=J$FF=F?=KHJG;@=F=DQJAK;@=/=PL= <A=KA;@L@=E9LAK;@ E=AKL9F%9@J=KR=AL=FMF<9F<=J=FOA=<=JC=@J=F<=F J=A?FAKK=FGJA=FLA=J=F  M;@

?=@dJL=G:A>67"G@EFRM<=FNGE^+M:DACMED9ML)36;AF397 4G5::=KL:=O=JL=L=F.=F<MF?=F

!),17  =6;<=6,=4<=::),17"+0J8.?-:3

&MDLMJ=DD=K V 2AKK=FKO=JL=K V $FL=J=KK9FL=K V 1=J@dJKHA=DL=K V M>J=?=F

<=KV(G<=JF=KV'AL=J9JAK;@=KV(MKAC9DAK;@=KVNGF.;@dH>O=JC=JFV>eJ .;@dH>O=JC=JMF<<=F-=KL<=J2=DL9K"G@EF G@6"G>FGDD36;A*5:^B8I7D= V:=F9FFLF9;@K=AF=E.ALR?*5:^B8I7D=AE =RAJC2A=FKV:=JA;@L=L <9K ?9FR= %9@J

 e:=J <=F =AFRA?=F ;3>7=F 'A7FDK *>3? AE <=MLK;@=F .HJ9;@J9ME   


'405'*'0+566'7'4? 7#.+6C65('405'*'0+566'74'4

G2+=.<217P+.;1*>9=-.7O//.7=52,1;.,1=52,1.7 &><,1*>.;)*=P;52,102+=.<21727*><;.2,1.7-.; &*15>6?.;05.2,1<@.2<.=.>;.<O//.7=52,1;.,1=52,1.< .;7<.1.7C>;.,1=/.;=20.7D

.$&0 6<--+  /0

&J=9LANALaLAKL<G;@C=AF=!J9?=<=J&GKL=F29JME OGDD=F+JG?J9EEE9;@=J$FF=FAEE=JE=@J"=D<9 EMKKE9F>D=PA:=DK=AFVME<=FC=FVFA;@LAF9DL=F (MKL=JFN=J@9JJ=F .H9J=F?=@L9M;@G@F=,M9DALaLK

N=JDMKL (9FEMKKKA;@=:=F=LO9K=AF>9DD=FD9KK=FV FA;@LAEE=JFMJB9EE=JF <9KK<9K"=D<FA;@LJ=A;@L *>L?=@dJL=.aLR= -A;@LA?G<=J>9DK;@)MFVFA;@L?9FR >9DK;@ :=J<=K@9D:FG;@D9F?=FA;@L?9FRJA;@LA?  )9LeJDA;@>e@JL<=J AFK9LRNGFE=@J"=D<FA;@L9MLG

E9LAK;@RME=@J,M9DALaL :=J<A=!GJ<=JMF?F9;@ E=@J,M9DALaL>e@JL9MLGE9LAK;@RM@d@=J=F&GKL=F  29JMEAKL<9KKG2=AD A?=FHJG<MCLAGF=FE=@JCGK

L=F9DK&aM>==AF1A=D>9;@=K 2=AD.HALR=F<GCME=F

L9LAGF=FAE AFC9M>E=@JCGKL=F9DK0. 9E=JAC9FA

K;@= F<DGK .=JA=F 2=AD?JeF<DA;@=K-=;@=J;@A=J=F DaF?=J<9M=JL9DKBGMJF9DAKLAK;@=.;@F=DDK;@eKK=G<=J <9K:K;@J=A:=FNGF?=FLMJ (=D<MF?=F !=JFK=@=F AKLL=M=J ^>>=FLDA;@ J=;@LDA;@=K,M9DALaLK>=JFK=@=FAKL L=MJ=J  AF==AF>9;@=dCGFGEAK;@=/9LK9;@= <=J D=LRLDA;@O=<=J<MJ;@&J=9LANALaL !D=PA:ADALaL H=FA

:=DKL=.H9JK9EC=ALG<=J#GJ<=FNGF=LJA=:K

:=J9L=J$FF=F:=ARMCGEE=FAKL 

 

:=JO=JOADDd>>=FLDA;@ J=;@LDA;@=K!=JFK=@=FOAJC

DA;@2=J@9L=AF=;@L=K=<eJ>FAK<9F9;@VB=FK=ALK :AD<MF?K:eJ?=JDA;@=J'AHH=F:=C=FFLFAKK=2=J :J9M;@L<A=dKL=JJ=A;@AK;@= A?=FHJG<MCLAGF KL9LL EAL<=E&9M>HJG?J9EERM>JA=<=FRMK=AF2=JO=AZ ,M9DALaLKBGMJF9DAKEMKRMK;@aLR=FVAE0FL=JK;@A=< RM)9;@JA;@L=F9MK<=JBGMJF9DAKLAK;@=F'=?=:9LL=JA= "A:L=KA@Fe:=J@9MHL <=FXd>>=FLDA;@ J=;@LDA;@=F 5MK;@9M=JS )9LeJDA;@?A:L=KA@F 1A=DD=A;@LFA;@LAEE=JAFKG?JG

Z=J59@D OA=KA;@<9K<A=+JG?J9EEE9;@=JOeF

K;@=FOeJ<=F 9:=JKA;@=JAF9MKJ=A;@=F<=J59@D ME N=J?D=A;@KO=AK=L=MJ=Kd>>=FLDA;@ J=;@LDA;@=K!=JFK=

@=FRMJ=;@L>=JLA?=F "=E=AFK9E=JJ=A;@=F<A= d>>=FLDA;@ J=;@LDA;@=F.=F<=J*-! K9L - 5!  -/ =L; AEE=JFG;@(9JCL9FL=AD=ME<A= +JGR=FL


   =7.674#7(64#) %=FK=ALK<=JLa?DA;@=F+JG?J9EED=AKLMF?=J>eDDL<=J *-!9:=JFG;@=AF=CGKL=FAFL=FKAN=M>?9:= J :=KALRLMF<:=LJ=ML<9KOG@DME>9KK=F<KL=NAKM=DD= J;@AN^KL=JJ=A;@KV?=OAKK=JE9Z=F<A=X)9LAGF9DNA

<=GL@=CS<=K'9F<=K 2G@D=AF=DMH=FJ=AFd>>=FLDA;@

J=;@LDA;@=M>?9:= 9M;@O=FFKA=AE-MF<>MFC?=K=LR FA;@L=PHDARAL9F?=>e@JLAKL $F<=J1=J?9F?=F@=AL@9L <=J*-!<A=K=M>?9:=?=OAKK=JE9Z=FF=:=F:=A =J>eDDL A=dKL=JJ=A;@AK;@= JKL9MKKLJ9@DMF?=AF=K 2GD>?9F? 9M=J .Le;C=KVME=AF:=DA=:A?=K=AKHA=D RMF=FF=FVO9JF9LeJDA;@AF=JKL=J'AFA=+JG?J9EE  9K9:=JAEJ;@AN?=D9F<=LAKLMF<9DK=AF.Le;C&MD

LMJ?=K;@A;@L=<GJL>eJ9DD=5=AL=F9M> :=O9@JLAKL  .GD;@=+JG<MCLAGF=F>AF<=FC9MEE=@JKL9LLVO=AD

KA=L=M=JKAF<MF<FMJO=FA?=KA=K=@=FOGDD=F G;@ O9K@=ML=FA;@L9M>?=R=A;@F=LOAJ< AKL>eJAEE=JN=J

DGJ=F #A=JROAF?L=PLJ=E=J.H9J<JM;CRM=PLJ=E=J &MJRKA;@LA?C=AL #A=JC9FF;@LMF?V%=LRLOAJ<K H9L@=LAK;@@AKLGJAK;@=1=J9FLOGJLMF?FA;@LO9@J?=

FGEE=FO=J<=F $;@K9?=:=OMKKL=3@@FA;@LO9@J

?=FGEE=FO=J<=F  2=ERME*-!9DKGFA;@LK9F<=J=K=AF>aDDL9DKAEE=J OA=<=JC=@J=F<=.H9J HH=DD= <=JKGDDL=RMEAF<=KL OAKK=F O9K=J<9EAL9M;@:=OAJC=FC9FF

.$&0 6<--+




0(14/#6+1070&7.674#7(7412#0+8'#7?5#6

.=AL :A=L=L<=J*-!?=E=AFK9EEAL<=E1I7;F7@7GFE5:7@7D@E7:7@ 5! MF< <=J*5:I7;L7D;E5:7@ )36;A  G@6 7D@E7:97E7>>E5:38F .-" =AF AF

L=JF9LAGF9D=K<=MLK;@KHJ9;@A?=K.9L=DDAL=F !=JFK=@HJG?J9EE .=AL<=E=A

LJALL<=JD47;FE97?7;@E5:38F67D^887@F>;5: D75:F>;5:7@)G@68G@=3@EF3>F7@67D G@67ED7BG4>;=7GFE5:>3@6- F<= KAF<9DD=NA=Jd>>=FLDA;@ J=;@L

DA;@=F-MF<>MFC9FKL9DL=F<=K<=MLK;@=F.HJ9;@J9MEK9F K9L:=L=ADA?L 9K .;@O=J?=OA;@LDA=?L9M>&MDLMJMF<$F>GJE9LAGF <=J*-!DA=>=JLJMF< +JG

R=FL<=K+JG?J9EEK =ALJa?=9MK^KL=JJ=A;@O=J<=FNA9 K9L=AF=EAFL=JF9

LAGF9D=F+M:DACMERM?aF?DA;@?=E9;@L  .=AL *CLG:=J

AKL<9K?=K9EL=+JG?J9EENGF K9L9M;@NA9- + GP =EH>9F?:9JMF<=JJ=A;@LKGRMKaLRDA;@L9MK=F<=#9MK@9DL=

38>/<1<?8.I380+-238.=/38E " <91<+77=-2A/<:?85>D?7 /,?<>=>+1@98=><3.38.1</8 )=:=FNA=J^.=F<MF?=FMF< !GD?=F';BB;#3@9EFDG?B89M>*-!OMJ<=F9M;@<J=A!ADE=NA9 K9L9MK?=

KLJ9@DLE )GN=E:=JKL9F<=F;7D_67D#^I7@:7DL9M><=E+JG?J9EE L9?K<9J9M>:=J=ALK)A@<3)[G 47DFA5:F7DMF<9EK=D:=F/9?AE#9MHL9:=F<HJG?J9EE<9K+GJLJaLEFD;6#;@69D7@NGFFAL9 A;@@GDR =J !ADER=A?L<A= FLOA;CDMF?<=JO=DL:=C9FFL=F&AF<=J:M;@9MLGJAFNGF<=JKEbDaF<AK;@=F9M=JFLG;@L=JRMJ HGDALAK;@=F?9?A=JL=FX.;@O=<AF<=K%9@J@MF<=JLKS (ALA@J=F#=D<$FF=F@9L'AF<?J=F$<=FLATC9LAGFKT?MJ=F ?=K;@9=F <A=9M>=AFRA?9JLA?=2=AK=<A=(d?DA;@C=AL=FCAF<DA;@=J.=D:KL:=@9MHLMF?AF=AF=J JO9;@K=F=F

O=DLN=JCdJH=JF 

-: ;)<73=5-6<):.1458:-1;

.=AL KLA>L=F<A=NA=J K9L +9JLF=J5! *-! .-"MF<-<=FEAL

 MJG<GLA=JL=F E3F A=G?7@F3D8;>?BD7;E>eJ=AF=F@=J9MKJ9?=F<=F!ADE<=J 9DDBa@JDA;@=FG;E4GD97D;>?IA5:7 

?AF?<=J+J=AK9F1,&1Q;@F7D @ F7D@3FE?3G7D@ ;@ 67D *5:I7;L NGF 9FA=DD9 (9JP=J  AF !ADE  <=J <A= (9;@L

KLJMCLMJ=FMF<-=?=DF=AF=K(ACJGCGKEGKAF=AF<JAF?DA;@=F.R=F=FMF<AD

<=JF9F9DQKA=JL 

3=4<=:B-1<=6, ;)<*=+0B-1<

9KLa?DA;@=(9?9RAF=G>FGDL7;F(GFL9?:AK!J=AL9?  0@J  K9LOA<E=L KA;@J=?=DEaZA?9M;@<=JdKL=JJ=A;@AK;@=F&MFKLMF<&MDLMJ A= E3F4G5:L7;FOA<E=LKA;@<=J<=MLK;@KHJ9;@A?=F'AL=J9LMJMF<?9FR:=

KGF<=JK<=E2=LLD=K=FME=AF=FADDMKLJ=FMF<@G;@<GLA=JL=F+J=AK 

;)<#0-5-6<)/-=6,:7/:)55;+0?-:8=63<-

E %9FM9J

KL9F< K9L=AF=F?9FR=F/9?MFL=J<=E/@=E9 ?%3?7@ AFF7E"3?B8G@6+A>7D3@L67D"G>FGD7@  KO9J=AF=.HMJ=FKM;@=F9;@<=F (GLAN=F >eJ <=F 9??J=KKAN=F !MF<9E=FL9DAKEMK  OG:=A 9:=J 9M;@ AF GCM

E=FL9LAGF=F (9?9RAF=FMF<!ADE=F<A=HGKALAN=F.=AL=F<=J-=F9AKK9F;=<=K -=DA?AdK=F?=R=A?LOMJ<=F  AFO=AL=J=J/@=E=FL9?OA<E=L=KA;@9E  M?MKL=AF=JE=<A9D=F-=NGDM

LAGF<=E3D487D@E7:7@ E .=HL=E:=JKL9JL=L=<A=

L=ADA?==G>FGDL7;F

-=A@=*F3F;A@E $7;EF7DI7D=7L7;F97@^EE;E5:7D"G@EF :=A<=J@=J9MKJ9?=F<= 2=JC=MF<A@J=&eFKLD=J$FF=FAE(ALL=DHMFCLKL9F<=F 




!#

.=AL ?A:L=K=AF=&GGH=J9LAGF<=K*-!EAL<=E<=MLK;@ >J9FRdKAK;@=F&MDLMJC9F9D-/ K=ALHJAD

 AKL<=J*-!9KKGRAA=JL=K(AL?DA=<NGF-/ MF<<9EALAF<9KAFKLALMLAGF=DD='=:=F<=J-/ 5=FLJ9D=AF.LJ9Z

:MJ?=AF?=:MF<=F !eJ<=F*-!:A=L=L<A=&GGH=J9LAGFEAL-/ <A=@9F;= <A=.LAEE=^KL=JJ=A;@KAF MJGH9 RMN=JKLaJC=FMF<NGJ9DD=E9M><=ENGF K9LC9ME:=Je@JL=F>J9FRdKAK;@=F(9JCL9DK&MDLMJHJG<MR=FL9M>

RMLJ=L=F #AFRMCGEEL <9KK-/ AF!J9FCJ=A;@F=:=F<=J.9L=DDAL=F9MKKLJ9@DMF?9M;@L=JJ=KLJAK;@9F?=:G

L=FOAJ<MF<<=E=FLKHJ=;@=F<e:=J=AF=?JGZ=.=@=J$FF=FK;@9>LN=J>e?L 2=AL=JKAKL-/ V=:=FKGOA= K9L V=MJGH9O=ALe:=J&9:=DMF<.9L=DDAL=EH>9F?:9JMF<KGEAL>eJ<A=9FdKL=JJ=A;@AK;@=J&J=9LANALaL$FL=J=KKA=JL=F AFNA=D=F'aF<=JFRM?aF?DA;@ 

"$3126312>=73>"/>/3631?81 

   =7.674#7(64#)

?7.674#7(64#)274

ǯ&KULVWPDVLQ9LHQQD9K2=A@F9;@LKCGFR=JL9MK<=E2A=F=J&GFR=JL@9MK EAL<=E)36;A *K?B:A@;7AD5:7EF7D.;7@EAL DF9"9J9F9 %GKcMJ9  L=JA '9EGJAKMF<+9MDJEAF <=DE9FF -/ R=A?L==AF=F(ALK;@FALL<=K&GFR=JLK NGE =R=E:=J

  ǯ>A:3;?D7;H;7DF7>F3=F9E =R=E:=J

A=GCME=FL9LAGF=JRa@DL <A=V@A=JRMD9F<=C9ME:=C9FFL=V"=K;@A;@L=<=K29DR=JK9M>#9O9AAMF< KH9FFL =AF=F @AKLGJAK;@=F G?=F NGE F<= <=K  %9@J@MF<=JLK :AK AF <A= "=?=FO9JL ǯ$PÍ&#x2026;Í&#x2020;2NWREHUÍ&#x2020;Í&#x201E;Í&#x201E;Í&#x2039;VHQGHWH$57(8OULFK6HLGOVEHHLQGUXFNHQGHQ'RNX

E=FL9JTDE!7EGE6GI7;VF  ǯ'LH=HLWGLHPDQ/HEHQQHQQW=J!=JFK=@TDEHGJLJaLA=JL<9K.;@A;CK9D<=K BMF?=F+A9FAKL=F'M;9 <=JCMJRNGJ<=EAFL=JF9LAGF9D=FMJ;@:JM;@KL=@L 9DK =AF0F>9DDK=AF=5MCMF>LRMJ9M:=FK;@=AFL +JG<MRA=JL

MFL=J=L=ADA?MF? <=K*-! 9MK?=KLJ9@DL9E %9FM9J

 ǯ'HUJHIDOOHQH9DPSLU+:73>>7@-3?B;D7=JRa@DL=9E )GN=E:=J

 <A="=K;@A;@L=<=KD=?=F<aJ=F#GDDQOGG< .;@9MKHA=D=JK=D9'M?GKA <=JAF <=F =J%9@J=F<A=!A?MJ<=KD35G>39M>=AFRA?9JLA?=2=AK=9M><A='=AFO9F< :J9;@L=MF<<=KK=F J>GD?A@ERME!DM;@OMJ<= 

 


7.674&'4')+10'0?+0''4#75(14&'470)

G<2<=-.; -.;-2.0.<.55<,1*/=52,1. $.;*7=@8;=>70-8;=62==;N0=@8.;<= ->;,1-2.*><0.9;N0=.6.-2*5.869.=.7C .27..;7<=C>7.16.7-.+;.2=.;..+*==. .7=<=.1=D

 &"$".00.,+"$$". +!"/!&."(0,. )61.$

 =KM;@=J$FF=FN=JK9EE=DFKA;@AF<A=K=F <J=A7EFEB;7>@[5:F7 2G;@=FNGJ<=J"JGZD=AFO9F< 9M><=E&9HAL=DHD9LRMF<<9KF?=:GL=FLKHJA;@LAF $F@9DLMF<L=;@FAK;@=J,M9DALaL?=F9M<=F JO9JLMF

?=F <A=<A=(=FK;@=F9F<A=NGE*-!RM=J:JAF?=F

<=&MDLMJD=AKLMF?KL=DD=F A=#3@67EEFG6;AEKAF<<MJ;@<A=)a@=RMJ'=:=FK

O=DLA@J=J#dJ=J$FF=FMF<.=@=J$FF=F=FLK;@=A<=F< :=L=ADA?L9F<=JMK>GJEMF?MF<CR=FLMA=JMF?dKL=J

J=A;@AK;@=J$<=FLALaL 0F<<A=K=dKL=JJ=A;@AK;@=$<=F

LALaLAKLAF.L9<LMF<'9F<.9DR:MJ?O=K=FLDA;@EAL:=

KLAEEL<MJ;@<A=&J9>L<=JCMDLMJ=DD=FMF<CeFKLD=JA

K;@=F'=AKLMF?=F <A=KA;@AF<=J-=?AGF9MK>GJE=F 2=FF<9K#3@67EEFG6;AAF=AF=J&MDLMJJ=?AGFOA= .9DR:MJ?<9J9M>9;@L=L KGOG@D9DK&MDLMJN=JEALLD=J 9DK9M;@9DK1=J9FKL9DL=J9CLANRMK=AF <9FFAKL<9K =AF=KAFFNGDD=.LJ9L=?A=<=K.LaJC=FK<=JF9;@O=AK

DA;@NGJ@9F<=F=F.LaJC=F =AKHA=D=AFKA=2=DL?=DLMF?<=J*3>L4GD97D7EF EB;7>7DA=?LAF<=J=AFRA?9JLA?=F+JG<MCLANALaL B=<=K %9@JAE.GEE=JK=;@K?JGZ=(MKACL@=9L=JHJG<MCLAG

F=F@=J9MKRM:JAF?=F 2a@J=F<<=J*-!<9K2A;@LA?K

L=<9NGFRME/=ADEAL&GGH=J9LAGFKH9JLF=J$FF=FEAL =FGJE=EM>O9F<9M>R=A;@F=LMF<9M;@DAN=>eJ=AF F9LAGF9D=KMF<AFL=JF9LAGF9D=K+M:DACMEe:=JLJa?L  @9L<9K#3@67EEFG6;A<9Je:=J@AF9MKAF<=FD=LRL=F R=@F%9@J=FCGFLAFMA=JDA;@<=F5M?9F?=AF=J:J=AL=F ^>>=FLDA;@C=ALRM<A=K=F?JGZ=F*H=JF=J=A?FAKK=F N=J:=KK=JL

=AKHA=DRO=A.GO=DLG>>=F.9DR:MJ?KA;@<MJ;@<A= 7EFEB;7>7 <A= @F7D@3F;A@3>7*F;8FG@9$AL3DF7G? <A= @F7D@3F;A@3>7*A??7D3=367?;78_D;>67@67"G@EF  <9K!3LL87EF;H3>;@*33>87>67@MF<<=F!3LL:7D4EF;@ *3>L4GD99M;@?A:L KGEe@K9EOAJ<<A=1=JEALLDMF? NGFR=AL?=FdKKAK;@=F+GKALAGF=F O=FF=KME&MFKL AEd>>=FLDA;@=F-9ME?=@L $F<A=K=J.ALM9LAGF@9L<9K&) #3@67EEFG6;A*3>L 4GD9AE.GEE=J =AF=AKCMKKAGFKJ=A@=?=KL9J

L=L <A==AFO=K=FLDA;@=J=ALJ9?RMJ1=JK9;@DA;@MF? <=JMK=AF9F<=JK=LRMF?ME&MFKLAEd>>=FLDA;@=F -9MEO9J .L=LKC9E=F=>eJOGJL=J$FF=FMF<&JALAC=

J$FF=F<=J9M>RMKL=DD=F<=FCeFKLD=JAK;@=F2=JC=RM 2GJL <A="=KHJa;@=OMJ<=F<MJ;@<A=BGMJF9DAKLAK;@= &GEH=L=FR<=K#3@67EEFG6;AEAFCGFKLJMCLAN=9@

F=F?=D=FCL :AKRM =KM;@=J$FF=FC9E=FB=O=ADK AFK#9MK ME<9:=ARMK=AF O=FF<=J*-!KA;@<=J KLJALLA?=F/@=E=FROAK;@=FDLKL9<LK;@MLRMF<R=AL

?=EaZ=J+GKALAGFA=JMF?NGF&MFKLO=JC=F9FF9@E

!9RAL&=AFCGEE=JRA=DD=J+JG?J9EE9F:A=L=JOADDMF< C9FFKA;@<=J9JLA?=FCMDLMJ=DD=FM>?9:=FKL=DD=F  K AKL<=J*-! <=J<A=?=K=DDK;@9>LDA;@=1=J9FLOGJLMF? <GJLEALLJa?L OG=JKL<MJ;@<A=9MK?=HJa?L=E=<A9D= &GEH=L=FR=AF==JFKLRMF=@E=F<=:J=AL=J==:9LL= =FLKL=@L A=NGE&) #3@67EEFG6;Ae:=J<9KJ=?AG

A=NGE#3@67EEFG6;ARMK9EE=FEAL<=F*3>L4GD97D F9D=&=JF?=K;@a>LAF<=J-9<AG MF<!=JFK=@AF>GJE9

7EFEB;7>7@AFALAA=JL=F&B7D@@[5:F79M><=EGEHD9LR LAGF@AF9MKJ=A;@=F<=&GEEMFAC9LAGFKD=AKLMF?>=KLA?L RM<=EB=F=&MF<$FF=F:AF<MF? <A=9F?=KA;@LK<=J <9M=JL=F9F>9F?K>eF>/9?= F9;@<=J_:=JKA=<DMF? 1A=D>9DL<=J<A?AL9D=F+JG?J9EE9F:A=L=JMF<1=J

9M><=F?JdZ=J=F-=KA<=FRHD9LRMF<K;@DA=ZDA;@9M> LJA=:KO=?=AEE=JOA;@LA?=JOAJ<  <=F@d;@KLKLAEEMF?KNGDD=F&9HAL=DHD9LROMJ<=<9K F?=:GL9F@AKLGJAK;@=FMF<9CLM=DD=F*H=JFe:=JLJ9

?MF?=FFMFE=@J9M><J=A2G;@=F9MK?=O=AL=L &"$".00.,+"$$".

 


)<16--

$3F;@77AKL<A=/1 &MDLMJD=AKL=9E.GFFL9?NGJEALL9?  0@J *-!  O=D

;@= ?=JF ?=K=@=F= &MDLMJ<GCME=FL9LAGF=F MF< &eFKLD=J$FF=FHGJLJaLK HJa

K=FLA=JL #A?@DA?@LK<=J$3F;@77O9J=F

=LO9<A= Jd>>FMF?<=J1GDCKGH=J  <A=9E .=HL=E:=JEALA@J=EF=M=FAJ=CLGJ-G:=JL(=Q=J<9KNA=DK=ALA?= +JG?J9EEKL9JL=L= G<=J<A=.=F<MF? @?7?AD;3?!A713I;@G> <A=<=FOG@D :=C9FFL=KL=F%9RREMKAC=J<=K'9F<=KOeJ<A?L= 

38>/<1<?8.#?77/<909@/G.95F67

   ='4#06914670) =7.674#7(64#)   

75+-#.5-7.674'..' 4E%-'<7/7$.+-7/

=J*G??7DA8#AH7 KL=@L?9FRAE5=A;@=FNGFX#AH7'73573@63BB;@7EES G;@@dJ=F#AHHA=KFMJ -G;CG<=J9M;@ D=;LJG.AF<KA=e:=J@9MHLFG;@@AH0F<O=D;@=KHAJALM=DD=F2AJCMF?=F@9:=FKA=9MK?=

DdKL#9FF=K-GKK9;@=JR=A?L=AFK=AF=JRO=AL=ADA?=FGCME=FL9LAGFAE.GEE=J

 MF< M?MKL  O=D;@='A9AKGF=F-=DA?AGFMF<+GHCMDLMJAF<=F%9@JR=@FL=FK=AL@=J=AF?=?9F?=FKAF<

")4B*=:/-:-;<;81-4-15!

A=*3>L4GD97D7EFEB;7>7O9J=F9M;@

OA=<=JFD9KK>eJME>9F?J=A;@= =JA;@L=JKL9LLMF?<=K*-!AF-9<AGMF<!=JFK=@=F 1A=D=M>>e@JMF?=FOMJ

<=FR=ALN=JK=LRLG<=JKG?9JDAN=e:=JLJ9?=F  ^K=F<=L=AFK?=K9EL +JG<MCLAGF=F 9;@L<9NGFDAN= )=:=FG97@&@7 9;@9E  %MDA

O9J=F<A=O=AL=J=F#A?@DA?@LK%GK=H@#9Q<FK*H=JD ?;63MF<'M<OA?N9F==L@GN=FK.;@9MKHA=DEMKACRM9?A@F <AJA?A=JLNGF =JLJ9F<<=ADDQEAL<=F.GDAKL=FFF=LL=9K;@ %G@9FGL@9MF</G:A9K(GJ=LLA 5MKaLRDA;@RM<=F_:=JLJ9?MF?=F?9:=K9DDBa@JDA;@9CLM=DD=!=KLKHA=D:=JA;@L= AF<=FX !AGD@3>7@ AE"G>FGD<AGD@3>MF<AF @FD363KGOA=<=FMK?9:=F<=K X ">3EE;=+D788BG@=FAF.9DR:MJ? E .GFFL9?  <=E   %MDA

  KL9F< ME  (AFML=F R=ALN=JK=LRL <A= +J=

EA=J=<=J/K;@9ACGOKCQ *H=JG97@&@79;@9: 0@JFA;@LFMJ9M><=E *-! .HA=DHD9F XE;EFG@E93@L=GDL8D;EF;997>G@97@RG97@&@79;@2;@ E3FLG B>3FL;7D7@ ;7E;EF6;77DEF797?7;@E3?7Y47DFD39G@97;@7D#;H7 'D7?;7D7HA@ 67@*3>L4GD97D7EFEB;7>7@S >J=ML=KA;@&) "G>FGD5:78(9JLAF/J9PDe:=J=AF :J=AL=J=KMF<NGJ9DD=E=MJGHaAK;@=K!=JFK=@HM:DACME A=+J=EA=J=OMJ<= 9M;@NGF^e:=JLJ9?=F

:-/-6B-:-;<;81-4-15!

&9E=J9KMF< (AL9J:=AL=J$FF=F@9:=F9E %MDA

<9>eJ?=KGJ?L  <9KK<A=!=JFK=@RMK;@9M=J$FF=FDAN=:=A"A9;GEG+M;;AFAK*H=JFL@JADD=J+AE 53<9:=AO9J=F =J*-!@9L9DKG=AF=F:=LJa;@LDA;@=FM>O9F<?=KL9JL=L <9

EAL<9K.HA=DME'A=:= (9;@LMF< A>=JKM;@LAF=AF=E<ACL9LGJAK;@=F_:=JO9

;@MF?KKL99L9M;@9M><=EAD<K;@AJED=:=F<A?O=J<=FCGFFL=  ^e:=JLJM?+A6;@-7@76;9DAN=9KD=LRL=(MKACL@=9L=JO=JC<=K:JALAK;@=F &GEHGFAKL=F=FB9EAFJALL=FO9J9DK*H=JAE!=KLKHA=D@9MKRM=JD=:=F

 


*1/&(-.,0,(,))&*/0"&.&/ %"+%"./0 +.#0<'+0'4112'4#6+10

G*< .<=2?*5F6><249;8=8485526<=.2;2<,1.7 1.;+<=)/.2.;=.62=<.27.;?2.;C20<=.7><0*+.-2. 27=.;7*=287*5;.78662.;=.87=27>2=N=-.<<.2= 262.7<=.-.<O<=.;;.2,12<,1.7><24<,1*/ /.7<*02.;.7-.7.<=2?*5<D

 %.&/0&+ %"& :1/&(

AF"J9R?=?JeF<=LV<9E9DKE9Z?=:DA;@AFALAA=JL NGF'9F<=KAFL=F<9FL EADJ=AK9;@EAL0FL=JKLeLRMF? NGF"=F=J9DAFL=F<9FL"=J<9;@=JVAKL<9K*-! !=K

LAN9D?GE;=BDAFA=A>>;?EF7;D;E5:7@:7D4EFK=ALFMF

E=@JE=@J9DKNA=JRA?%9@J=F=AF=J<=JE9Z?=:DA;@=F (GLGJ=F>eJdKL=JJ=A;@AK;@=R=AL?=FdKKAK;@=(MKAC 9M>A@J=E2=?RME=@J^>>=FLDA;@C=ALNGJ*JLMF<AE -9<AGMF<NGJ9DD=E9M;@AF<A=$FL=JF9LAGF9DALaL  #MF<=JL=NGF&GEHGKALAGFK9M>LJa?=FOMJ<=FK=AL@=J V@9MHLKa;@DA;@ 9:=JFA;@L9MKK;@DA=ZDA;@9FdKL=J

J=A;@AK;@=&GEHGFAKL$FF=FVN=J?=:=FMF<RMJ0J9M>

>e@JMF??=:J9;@L .GOG@D<A=@9J9CL=JAKLAC<=J1=J

9FKL9DLMF?K=D:KL 9DKG<A=(AK;@MF?<=J:=KL=F dKL=JJ=A;@AK;@=FEAL<=FJ=FGEEA=JL=KL=FAFL=JF9LAG

F9D=F FK=E:D=K OA=9M;@<9K+GMNGAJ<=Kd>>=FL

DA;@ J=;@LDA;@=F-MF<>MFCKEALK=AF=J=MJGH9 MF< O=DLO=AL=F1=J:J=ALMF?KEd?DA;@C=ALNA9,D9KK=F <A=K=M>>e@JMF?=FdKL=JJ=A;@AK;@=J(MKACRMO=AL E=@J9DK=AF=EJ=?AGF9D=FG<=JF9LAGF9D=F J=A?FAK O=J<=F  .=AL<=F =J%9@J=FOAJ<<9K!=KLAN9DHJG?J9EE<=K ?GE;=BDAFA=A>>;?EF7;D;E5:7@:7D4EFAF:=KGF<=JK =F?=J:KLAEEMF?EAL<=E-9<AGHJG?J9EENGF^ ?=KL9DL=L O=AD<A=+JG<M;=JK;@9>L<=JOG;@=FLa?DA

;@=F=AFKLeF<A?=F.=F<=J=A@=17;F +A@ <A=9CLM=DD= (MKACRME=@J9DK +JGR=FLdKL=JJ=A;@AK;@=J+JGN=

FA=FRHJaK=FLA=JL MF<<A=+JG?J9EE<AJ=CLAGF<=K !=KLAN9DKAF=AF=J#9F<DA=?=F $E%9@J  RMJNA=JRA?KL=FMK?9:=<=K*-! !=KLA

N9DK?GE;=BDAFA=A>>;?EF7;D;E5:7@:7D4EF OeJ<A?L=F OAJ=AF=JK=ALK<A=?=K;@A;@LDA;@==<=MLMF?<MJ;@=AF !=KLCGFR=JLEAL9MKK;@DA=ZDA;@dKL=JJ=A;@AK;@=F2=J

C=F :DA=:=F9:=JRM?D=A;@<=J-GDD=<=K!GJMEK>eJ  

BMF?=&MFKLLJ=M !eJ<9K!=KLCGFR=JLCGFFL=FOAJ<=F GQ=F<=JdKL=JJ=A;@AK;@=FR=AL?=FdKKAK;@=F(MKAC  !JA=<JA;@=J@9 <9RM?=OAFF=F K=AFD=LRL=KAJA?9L EAL<=E)*&.;7@=A?=F=J(MKACV=AF=JdKL=JJ=A;@A

K;@=F JKL9M>>e@JMF?MF<=AF=J0J9M>>e@JMF?VKGOA= (MKAC<=JF9;@>GD?=F<=F"=F=J9LAGF=F AF<A=K=E !9DD2=JC=FNGF*D?9)=MOAJL@MF<"=GJ?!JA=<JA;@ #99KRMOA<E=F 9K!=KLCGFR=JLAE.L=>9FA=FK99D <=K"J9R=JGF?J=KK=K?=JA=L<9FF9M;@RME?=>=A=J

L=FKGOG@DEMKAC9DAK;@=FOA=9M;@?=K=DDK;@9>LDA

;@=F J>GD?  A=BMF?=&MFKL<=K!=KLAN9DKR=A?L=KA;@AF<=F/9?=F JMF<@=JMEAF<=FN=JK;@A=<=FKL=F!9;=LL=F0J9M>

>e@JMF?=FNGF2=JC=FNGF=9L!MJJ=JMF<"=GJ? !JA=<JA;@#99K KGOA=NGJ9DD=E<=JK;@GFFa;@KL=F "=F=J9LAGF9FdKL=JJ=A;@AK;@=F&GEHGFAKL=FOA= @JAKLG>A=FR +=L=J%9CG:=J =JF@9J<"9F<=JMF< 2GD>?9F?.MHH9FO9J=FAFC9EE=JEMKAC9DAK;@=F &GFR=JL=FRM=JD=:=F Oa@J=F<<A==PH=JAE=FL=DD=J=F &MFKL>GJE=FROAK;@=F#9HH=FAF?MF<(=<A=FCMFKL AFM>LJALL=F<=K"J9R=J&GDD=CLANK*7IF77F: <=K2A=

F=J @EF;FGFE8_DFD3@E3=GEF;E5:7ADE5:G@9 <=K 7?_E7AD5:7EF7DE KGOA=AFJ:=AL=FNGF(A;@9=D +AFL=JMF<<=K(MKAC (=<A=F 2=DDF=KK "J=FR?aF?=JK E:3 A@J=FMK<JM;C>9F<=F $F<=F%9@J=F MF< CMJ9LA=JL=MF<HJG<M

RA=JL=AE_:JA?=F=JKLE9DKAF<=J"=K;@A;@L=<=KEF7; D;E5:7@:7D4EF<9K&) ?GE;=BDAFA=A>><A=B=O=ADA?=F :7D4EF Jd>>FMF?K9:=F<=EALK=EA KR=FAK;@=F"JGZ

HJG<MCLAGF=F<=K=JDAF=J*F33>B>33F*AG@6EKEF7? KGOA=<=J^KL=JJ=A;@=J"=GJ?)MKK:9ME=J*5:I7D7 87>6?;F#G8F346D_5=7@MF<&D9MK'9F?8;5:F7@ 0F<  CGFFL=<A=?GE;=BDAFA=A>> M>LJ9?KCGEHGKALAGF <=JAF"J9RD=:=F<=F&GEHGFAKLAF JAF"== AFL=JHJ=

LA=JLNGE)*&.;7@MF<=AF?=J=A;@LNGF^ <=F J=FGEEA=JL=F#9MHLHJ=AK<=J+D;4G@767EA?BAE; F7GDE:=A<=J,%*&AF+9JAK?=OAFF=F 

%.&/0&+ %"&


G =4<=:)3<=-44

9KR=@FEAFeLA?=(9?9RAF(GFL9?:AK.9EKL9?   V  0@JAE-9@

E=F<=K$AD97@<AGD@3>E:A=L=L=AF=5MK9EE=F>9KKMF?<=JOA;@LA?KL=F&MD

LMJ=J=A?FAKK= KGOA==JA;@L=e:=JO=K=FLDA;@=+J=EA=J=F MKKL=DDMF?K=Jd>>

FMF?=FMF<NA=D=KE=@J  KOAJ<KGOG@D=AF-e;C:DA;C9M><=F1GJ9:=F<9DK 9M;@=AF=9CLM=DD=/9?=KNGJK;@9M9M><9K&MDLMJ?=K;@=@=F?=:GL=F

&7:<4)=< -: 1<-:)<=:?-<<*-?-:*

Ba@JLKA;@.ADF>3GF <A=!( CLAGFRMJ!dJ<=JMF?<=KdKL=JJ=A;@AK;@=F .;@JA>LKL=DD=J$FF=F )9;@OM;@K=KRMEK=;@KL=F(9D A=K=K%9@JKL9F<=F<A= 

 AFK=F<MF?=F <A=NGF =AF=JE=@JCdH>A?=F!9;@BMJQ:=O=JL=LOMJ<=F  MFL=J<=E/@=E9>GF 2A=B=<=K%9@JCGFFL=<=J.A=?=JL=PL <A=KE9DNGFFFA

F9.;@EA< AF<=J/9?=KR=ALMF?7D*F3@63D6MF<AE'AL=J9LMJE9?9RAF-A>>F7JF AFNGDD=J'aF?=N=Jd>>=FLDA;@LO=J<=F 

   ='4#06914670) =7.674#7(64#)   

+'.(#.67.67470&7056+/

8-:6K*-:<:)/=6/-615!

HJaK=FLA=JL=<=J*-!K=AF=F5MK;@9M=J$FF=F?D=A;@NA=J*H=JFe:=JLJ9

?MF?=FAE#9MHL9:=F<$3@A@  <A= =JKL= 'AN= _:=JLJ9?MF?9MK<=J2A=F=J .L99LKGH=J K=AL   %9@J=F EAL <=E 'A=:DAF? <=J *H=JFO=DL  FF9 )=LJ=:CG  C9E9E (aJRAE.;@FALL9M>

5MK;@9M=J$FF=F  K>GD?L=F#38;>>7 6GD\9;?7@F =:=F>9DDK9MK<=E#9MK9E-AF? KGOA=+AE53NGF<=FD797@L7D 7EFEB;7>7@MF<G97@&@79;@NGF<=F*3>L4GD97D7EFEB;7>7@ 

*)+05)668:-1;!)<

=J *-! :A=L=L >eJ =AF= <=J OA;@LA?KL=F DAL=J9JAK;@=F MKR=A;@FMF?=F <=K <=MLK;@KHJ9;@A?=F-9MEK=AF==A?=F=$FL=JF=LHD9LL>GJE .GC9FF<A=E=@J

La?A?= 1=J9FKL9DLMF? G@F= 0FL=J:J=;@MF? N=J>GD?L MF< E=<A9D 9M>:=J=AL=L O=J<=F  KO=J<=F#;H7 *FD73? MF<&@ 7?3@6 .=JNA;=K=:=FKG9F?=:GL=F OA=/J9FKCJAHL=RM<=F/=ADF=@E=J$FF=FL=PL=F 

KL=DDL=FKA;@ MLGJ$F

F=F<=EJ=FGEEA=JL=F.7FF>7E7@ =FEAL 

 MJG<GLA=JL=F#9MHLHJ=AK =J@A=DL'MLR.=AD=J>eJK=AF=F/=PL+GD=E;4 

)>1;7

3 H;EA.GFFL9?   0@J *-! :A=L=LK=AL HJAD

=AF=F2G;@=F

e:=J:DA;Ce:=JF=FF=FKO=JL=&MDLMJ=J=A?FAKK=VEAL-=HGJL9?=FMF<&GEE=F

L9J=F  $FL=JNA=OK MF< .R=F=F9MKK;@FALL=F  (AL <A=K=J $F>G .=JNA;=K=F<MF? :=CGEE=FAE=KGF<=J=F<A=&MDLMJN=J9FKL9DL=J$FF=FAF<=FMF<=KDaF<=JF =AF=RMKaLRDA;@=+D9LL>GJE  AFO=K=FLDA;@=JKH=CLAKL<=JK=F<MF?K:=RG?=

F=2=:9M>LJALL3H;EA=3>7@67D &) 3F <=JM 9 FG;@E9DK<=F_:=J:DA;Ce:=J <A=1=J9FKL9DLMF?=FDA=>=JL

:;4-+<:761+)15!

A= DE >75FDA@;53 AKL 9M;@

 ?=D9F<=L MF< N=JO9F<=DL= 'AFR RM =AF=E &GF?DGE=J9L AFL=JF9LAGF9D=J (=<A=FCMFKL MF< L@=GJA=  A=KE9D 9J:=AL=L= KA;@ <9K !=KLAN9D 9E .H9FFMF?K>=D< ROAK;@=F MF>J=AOADDA?=J <A?AL9D=J /J9FK

H9J=FRMF<>J=AOADDA?=J1=JaMZ=JMF?NGF+JAN9L@=AL9:AA64K7'D;H35K !( :GL F=:=F <=J =JA;@L=JKL9LLMF? =AF=F 9MK>e@JDA;@=F 1A<=G:DG?  ^ K=F<=L= K;@O=JHMFCLEaZA?AE)36;A=A>>79KGOA=AF?3FD;JMF<17;F +A@ 

 


 


G>+52,!.;?2,.;8*-,*<=.;<18>5-*5@*B<6*4.2=<*>-2.7,./..5*=186.272=<8@7<8,2.=B*7-,>5=>;. ,87/2-.7=272=<8@77*=287*5*7-,>5=>;*52-.7=2=B?.;B6>,1*9*;=8/=1.7*=287<=*=.H *;85*4>+8@2,C G/78=><=1.7@18>+52,<.;?2,.+;8*-,*<=270*7-,>5=>;.27=1.<=,.7=>;BH

 


" #=AE9LV/J9<ALAGFV$<=FLALaL^KL=JJ=A;@AKLFA;@L=FLO=<=J G<=J K;@O9JRG<=JO=AZ KGF<=JFD=:=F<A

?=1A=D>9DL =J1=JKGJ?MF?K9M>LJ9?N=JH>DA;@L=L<=F*-!RM$F>GJE9LAGFMF<0FL=J@9DLMF?AFF=MF'9F

<=KKLM<AGKMF<RM+JG?J9EE=FMF<.=F<MF?=FdKL=JJ=A;@O=ALMF<AF<=FMF<=KDaF<=JF  =J*-!:=?D=AL=L<=F?=K=DDK;@9>LDA;@=F29F<=DAF?9FR^KL=JJ=A;@ <9K'=:=F<=J(=FK;@=FAF<=F .La<L=FMF<-=?AGF=F $F&GF>DACL=FMF<!=A=JKLMF<=F?ADL=J*-!AKLEAL<=J=NdDC=JMF? K=AF=E +M:DACME MFEALL=D:9JN=J:MF<=F  =JM>LJ9?&GGH=J9LAGFEAL<=JdKL=JJ=A;@AK;@=F&J=9LANAF<MKLJA= 5MK9EE=F9J:=AL O=FF=KME dKL=JJ=A;@AK;@=,M9DALaL?=@L !d<=J9DAKEMK9DKD=:=F<A?=K+JAFRAH =J*-!AKL=AF!9DD>eJ9DD=^KL=JJ=A;@=J$FF=F 1GEG<=FK==:AKRME.==OAFC=D

 


##F# &!#"G$ G!"$"




=.<:)/   

 

 

 

  

-1;<=6/ 

1=J?9F?=F@=AL  "=?=FO9JLMF<5MCMF>L 9MKdKL=JJ=A;@AK;@=J+=JKH=CLAN=

^KL=JJ=A;@AFAD< /GFMF</=PL

-0:?-:< ##F# )4;-:)=;.7:,-:=6/

G>+52,<.;?2,.+;8*-,*<=.;<<18>5-;.6*270>*;*7=8;<8/8;2027*52=B2778?*=287*7- ,;.*=2?2=B*,;8<<*@2-.;*70.8/0.7;.<79*;=2,>5*;=1.B<18>5-,;.*=..A9.;2.7,.< =1*=+;270=1.7*=287=80.=1.;'I(H  G>52-2709>+52,?*5>.D




"DG:9DAKA=JMF?DdKL<A="J=FR=F<=J2=DLFA;@L9M>  ^KL=JJ=A;@AKL9M;@AF5MCMF>LE=@J9DKFMJ=AF2GJL <9K =AF=F+D9LR9M><=J'9F<C9JL=:=K;@J=A:L A=CJALAK;@= MK=AF9F<=JK=LRMF?EAL/J9<ALAGF $<=FLALaL 1=J?9F?=F

@=ALMF<5MCMF>L^KL=JJ=A;@KAKL=AF=R=FLJ9D=M>?9:= >eJ<=F*-!  ^KL=JJ=A;@AK;@=J$F@9DLRa@DLJ9M;@LME &MDLMJ=J:= MF<?=K=DDK;@9>LDA;@=1=JaF<=JMF? M>E=JCK9E E9;@=F OG^KL=JJ=A;@=AF/=AD<=J2=DLAKL  *@F=!J=E<=F@9KKMF<<MEH>=F)9LAGF9DAKEMK  0FK=JM>LJ9?^KL=JJ=A;@AK;@=,M9DALaLAF!=JFK=@=F  -9<AGMF<$FL=JF=L

:)3<1;+0-:=<B-6 

^KL=JJ=A;@V=AF2=JLAE?DG:9D=F&GFL=PL

 


"'+6)'5%*+%*6'+/

G%2;@855.7-2..>02.;-.-.;27-.;/P;-2. .<,12,1=.21;.;5=.;7>7-;8J.5=.;7 @.,4.7<2.62=.27*7-.;27<.<9;N,1+;27 0.7.27.7;.<9.4=?855.78//.7.72<4>;< +./O;-.;7D

+!."/,2(  "&0$"/ %& %0"

X :@7@:347;5:*35:7@3GE?7;@7D#747@E97E5:;5:F7 7DL[:>F6;7;5:@A5:@;7?3@67@7DL[:>F:347@;5:F 7;@?3>?7;@7D3?;>;7S K9?L=<=J=@=E9DA?=2=@J

E9;@LKKGD<9LF9;@ F<=<=K/1 $FL=JNA=OKAE.GE

E=J  0F<<9FF?=K;@9@$FL=J=KK9FL=K 9KFG;@ FA==JA;@L=L= :AK@=JLA=>1=J?J9:=F==JRa@DL=<=J 5=ALR=M?=e:=J<=F0EO=?=D=CLJGFAK;@=J-=HJG<MC

LAGFFMF9M;@=JKLE9DKK=AF=J!9EADA=  M;@<A=&AF<=J  FC=DMF<0J=FC=D<=J  Ba@JA?=F #=JEAF=#AFF=J@9:=FAE(9A AF-G:=JL"GCDK /1 GCME=FL9LAGF";@67D<3:D7;@67D$A@3D5:;7RME =JKL=F(9De:=J<A=:J9;@A9D=F JRA=@MF?KE=L@G<=F =J>9@J=F <=F=FA@J=0JGE9RMJ&9AK=JR=AL9MK?=K=LRL O9J 9:=J9M;@e:=J<A=LJAKL=F'=:=FK  AFCGEE=FK  MF<2G@FN=J@aDLFAKK=  A=K=0EO=?CGEEMFAC9LAGF@9LL=FA;@LFMJAF<A=

K=F!aDD=F@d;@KLHGKALAN=2AJCMF? .A=OMJ<=MF< OAJ<AEE=JOA=<=JRMJ$FALA9DReF<MF?>eJD9F?=!9EA

DA=F?=KHJa;@= >eJ!J9?=FMF<AKCMKKAGF=F 2AJ:=?J=A>=FMFK9DK JAFF=JMF?K9J:=AL=J$FF=F 9DK A=FKLD=AKL=JAE.AFF=<=J.;@aJ>MF?<=Kd>>=FLDA;@=F "=<a;@LFAKK=K 2AJN=JKL=@=F<A=M>9J:=ALMF?NGF "=K;@A;@L=9M;@9DK=ALJ9?RMJF9LAGF9D=F.=D:KL>AF

<MF? RMJXF9LAGF9D=FJ;@aGDG?A=S 9DKOA;@LA?=K D=

E=FLHGDALAK;@=J#Q?A=F= 9DK=AF$FKLJME=FLRMJ .;@aJ>MF?<=KAF<ANA<M=DD=FMF<CGDD=CLAN=F JAF

F=JFK #A=JOGDD=FOAJ=AF=BGMJF9DAKLAK;@=/J9<ALAGF >GJLK=LR=F <A=#M?G+GJLAK;@EALK=AF=F*-! .=JA=F XEF7DD7;5: MF<XEF7DD7;5: :=?GFF=F@9L 

17;F97E5:;5:F7AE*-!Ed;@L=$FALA9DReF<MF?>eJ-=>D=

PAGF=Fe:=J#=JCMF>L )9LAGF9D?=>e@D F9LAGF9D=$<=FLA

LaLMF<+9LJAGLAKEMKK=AF 9:=AOGDD=FOAJMFKFA;@L 9DK@G>JaLDA;@=1=JLJ=L=J$FF=F<=K5=A?=>AF?=JK;@OAF

?=F<=F EGJ9DAKA=J=F<=FAD<MF?K>=JFK=@=FKN=JKL=

@=F KGF<=JF=AF>9;@<=F"=OAFFNGF2AKK=FMF< $F>GJE9LAGF9F:A=L=F  2=J:AK@=JE=AFL= 2=LL:=O=J:AF<=J(=<A=FD9F<

K;@9>L:=<=ML=1A=D>9DL :J9M;@LKA;@FMJ<9KNGQ=MJAK

LAK;@= AF@=ALK?=:JaMHJAN9L=J&GFCMJJ=FL=FNGJ M?=FRM>e@J=FVMF<<=J LAC=LL=FK;@OAF<=D=FL

D9JNLKA;@9M?=F:DA;CDA;@ 9@=JKAF<"=:e@J=F?=D<=J ?=J9<=AE+JG?J9EEK=?E=FL<=J17;F97E5:;5:F7

GCME=FL9LAGF=F?MLAFN=KLA=JL <9KA=RM<A=K=J1A=D

>9DL:=ALJ9?=FMF<?D=A;@R=ALA?d>>=FLDA;@ J=;@LDA;@= PCDMKANALaLKA;@=JF <9<A=HJAN9L=&GFCMJJ=FRE=AKL 9M><A=K=!GJE9L=N=JRA;@L=L "=J9<=<=JBGMJF9DAKLA

K;@=X*MLHMLSd>>=FLDA;@ J=;@LDA;@=J0FL=JF=@E=F EMKKAEE=JOA=<=JRMLA=>KL?=K=DDK;@9>LK MF<<=EG

CJ9LA=HGDALAK;@=!J9?=FL9F?A=J=F K=FKA:D=J/J9FKEAK

KAGFKJA=E=FMF<(GLGJ>eJAKCMJK=K=AF <A=9:K=ALK <=K&JAL=JAMEK<=J(=@J@=ALK>a@A?C=ALMF<<=J,MGL= 9F?=KA=<=DLKAF<  MJ;@<=F.H9JCMJK<ACLA=JL=KLJ=F?=:M<?=LaJ=&9D

CMD9LAGF=FKAF<<9K AF= Ed?DA;@=MK<eFFMF?NGF $F>GJE9LAGFK9M>LJ9? +DMJ9DALaL AFL=DDA?=FL=JeJ?=J

Fa@= $FL=JF9LAGF9DALaLMF<-9F<?JMHH=F:=JA;@L=J

KL9LLMF?<9K"=>9@J=FHGL=FRA9D9M><=J9F<=J=F .=AL= /JGLR<=JLJAKL=F-=9DALaL<=K!9CLAK;@=FEeK

K=FOAJ9DD=<MJ;@ F?9?=E=FLMF<&J=9LANALaL<9>eJ .GJ?=LJ9?=F <9KK<A=X.=F<=>Da;@=5=AL?=K;@A;@L=S FA;@L"=>9@JDaM>L RMEAEE=J<eFF=J=F1=LL=JAF<=J d>>=FLDA;@ J=;@LDA;@=F/AK;@?=K=DDK;@9>LRMO=J<=F  2AJLMF<9K0FK=J= ME!dJ<=JH9JLF=JRM?=OAFF=F  ?D=A;@R=ALA?KAF<B=<G;@9M;@CD9J==C=FFLFAKK=<=K *F;8FG@9ED3F7EMF<<=J&) 7E5:[8FE8_:DG@9?=>GJ<=JL 

+!."/,2(  


-6;+0-6I+0<- =<<-:316,-:DH*-:4-*-66)+0,-5:1-/

$F<A=K=J*-! GCME=FL9LAGF?AF?=KME=AF="=F=J9LAGF <A=EAL<=E.;@J=;C=F <=K5O=AL=F2=DLCJA=?K9M>?=O9;@K=FAKL ME<A=E9FKA;@FA;@LOAJCDA;@CeE

E=JL= O=AD<A=+JAGJALaL=FOG9F<=JKD9?=F A=&AF<=JO9J=FRMCD=AF MEA@J= F?KL  A@J=F .;@E=JR  A@J= 0FKA;@=J@=AL MF< A@J=F #MF?=J RM 9JLACMDA=J=F  =J !ADEAE-9@E=F<=J-=A@=$7@E5:7@$[5:F7HGJLJaLA=JL=<9K.;@A;CK9D<A=K=J &AF<=J <A=RMJ J@GDMF?:=A"9KL>9EADA=F9M>?=FGEE=FOMJ<=F $FE9F;@=F!aD

D=F=FLKL9F<=AF=LA=>=AF<MF?MF<FA;@LK=DL=FOMJ<==AF=K<=JMFL=J=JFa@JL=F &AF<=J9M;@9<GHLA=JL A=GCME=FL9LAGF <A=AF*-! 9E =R=E:=J

 ?=R=A?LOMJ<= O9J<=F!9EADA=FAF?9FR MJGH9?=OA<E=L <A=AFK?=K9ELE=@J 9DK

dKL=JJ=A;@AK;@=&AF<=J9M>?=FGEE=F@9LL=F 

:=/77:<1;+0D160:761;<G;<-::-1+0;

B  =&'06+6C6    ='4#06914670)

'5%*+%*6'&+''05%*'08'4$+0&'6

#M?G+GJLAK;@AKLFA;@LFMJF9DQLAC=JMF<1=JEALLD=J<=K2=DL?=K;@=@=FK 9C

JA:AK;@=JGCME=FL9JAKLdKL=JJ=A;@AK;@=J5=AL?=K;@A;@L= KGF<=JF9M;@K=D:KL 5=ALR=M?=MF<@JGFAKL<=K %9@J@MF<=JLK A=K=:AK@=JO=FA?:=D=M;@L=L= !9;=LL= OMJ<= AF <=J GCME=FL9LAGF NGF F<J=9K )GN9C 9FDaKKDA;@ <=K

 "=:MJLKL9?K<=J%GMJF9DAKL=FD=?=F<=9E !=:JM9J

L@=E9LAKA=JL DD=AF<=J)9E='ADF;E5:CGEELAEJ;@AN;GEHML=J<=K*-!AF   AFLJ9

?MF?=FNGJ !eJF<J=9K)GN9CMF<K=AF-=;@=J;@=L=9E?9DL=K<9@=J AFEG

F9L=D9F?=JAFL=FKAN=JJ:=AL@MF<=JL=!ADE=MF<&9KK=LL=FEAL&GEE=FL9J=F  F9DQK=F -=HGJL9?=F GCME=FL9LAGF=FMF<.=JA=FRMKA;@L=F 

$<+.3>398?8.'+8./638./<4+2</38./<98+<-23/ A=?ML=9DL=5=AL :=JO9JKA=OAJCDA;@KG?ML <A=K=5=ALJMF<ME

 '=LRL= FG;@ D=:=F<= 5=ALR=M?$FF=F =JRa@DL=F AF <A=K=J GCME=FL9LAGF  <A= <=J*-!9E (9A

9MKKLJ9@DL= 9MKA@J=F&AF<=J MF<%M?=F<L9?=F -9J= !ADE<GCME=FL= MF< /GF9M>F9@E=F MF< NGJ 9DD=E K=DL=F= !9J:>GLG?J9T=F :GL=F=AF=F>9KRAFA=J=F<=F AF:DA;CAF<=FDDL9?<=J(=FK;@=FME<A=%9@J

@MF<=JLO=F<= A=TDEAK;@=GDD9?=DaKKL=AFNA=DK;@A;@LA?=K.LAEEMF?K:AD< =AF=J5=AL=FLKL=@=FMF<K=LRLKA;@:=OMKKLCJALAK;@EAL<=F(QL@=FMF<1=J

CDaJMF?=F9MK=AF9F<=J <A=AE'9M>=<=J%9@J==FLKL9F<=F

3:-=B=6,9=-: "<):3-#J+0<-:7<<-;

DKFLOGJL9M><=F+>D=?=FGLKL9F<AF<=J-=A;@K@9MHLKL9<LOMJ<=F<A=3D? :7DL;97@ *5:I7EF7D@ NGF 2A=F "MEH=F<GJ> NGJ  %9@J=F 9MK /AJGD F9;@ 2A=F ?=JM>=F  $@J= &AF<=J?aJL=F  .;@MD=F  &J9FC=F@aMK=J MF< DL=F@=AE= K;@A=F=FD9F?=5=ALMFN=JRA;@L:9J .GK=LRL=<9K2A=F=J*B;F3>67D3D?:7DL; 97@*5:I7EF7D@e:=J%9@JR=@FL=@AFO=?(9ZKLa:=AF<=J#GEdGH9L@A= #=ML= D=A<=L<A=&GF?J=?9LAGFOA=NA=D=C9JAL9LAN=*J<=FMFL=JE9KKAN=F)9;@OM;@K

HJG:D=E=F  A=GCME=FL9LAGFR=A?L=9E =R=E:=J

<A=F=M=F2=?= E=<ARAFA

K;@=/aLA?C=ALMF<.HAJALM9DALaLRMN=J:AF<=F MF<K;@DM?<A=Je;C=RMJ9DD?=

E=AF=F.ALM9LAGFAEdKL=JJ=A;@AK;@=F"=KMF<@=ALKO=K=F 

 


7('+0'4 '..'? &+' !&,/#.5'$'059'.6'0

G.;;/850>7--*62=-*<L+.;5.+.7?87 *-28<.7-.;7 2<=-*770.@N1;5.2<=.=@.77<2..27.7.77.7<@.;=. >7-7*,11*5=20.O;.;77.7+27->70<,1*//.7D

 &))5&0/ %"  <.#1+(!&."(0,.

=AF=F(=@JO=JL>eJ<9K+M:DACME@9:=F =FF<A=K=K d>>=FLDA;@ J=;@LDA;@="=K9EL9F?=:GLNGF^e:=J^ :AKRM!( NGF)36;A.;7@:AK)36;A-AD3D>47D9  ME>9KKLKGOG@D<A=X=JFKL@9>L=S=K;@a>LA?MF?EAL "G>FGDMF<'A>;F;=MF<<A=!dJ<=JMF?<=K=D73F;H7@ 'AF7@L;3>E9DK9M;@<A=,@F7D:3>FG@9 !=JF=J<A= ::AD<MF?<=JD79;A@3>7@)73>;F[FMF<<A=MK=AF9F

9KAKL=AF=E=AF=J'A=:DAF?KKR=F=F9MK<=EGCM

<=JK=LRMF?EAL<=J!G97@6=G>FGDV9M;@B=FK=ALK<=K E=FL9J>ADEGF7@$AD97@XEF7DD7;5:NGF#9FF=DGJ= /A=>=FL@9D=J AF<=EKA=F=MF^KL=JJ=A;@=J$FF=F=AF=F (9KK=F?=K;@E9;CK =J(=FK;@NGF@=ML=@9LLJGLR ?9FR=F/9?D9F?:=?D=AL=L 9K-9<AGAKLAEE=J<9:=A  NGJ9FK;@J=AL=F<=J.H=RA9DAKA=JMF?=AF=MFe:=JK=@:9J= .=@FKM;@LF9;@?9FR@=ALDA;@=E=FC=FMF<#9F<=DF  AE&J9FC=F@9MK AEMLG AF<=J+GDAR=AO9;@KLM:=  :=AE1=JC9M>K?=KHJa;@=AF=K!=FKL=J@aF<D=JK AF<=J 0F<<9@=J?=@L=KFA;@LFMJME<A=1=JEALLDMF?NGF 2AKK=F 2=JL=FMF<2G@D:=>AF<=F KGF<=JF9M;@ME !9:JAC 29JMEA;@<A=K=KAD<KGE9? @9L=AF=F=AF

=EGLAGF9D=)a@= >9;@=F"JMF< KN=JEALL=DL O9K<A=&) )36;AEV MF<^@9LAF<A=K=EAD<FMJ=AKHA=D>MFCLAGFV>eJ 9K+M:DACMEKGDDL=:=AXK=AF=ES.=F<=JFA=<9K A@J+M:DACMEAF^KL=JJ=A;@<9JKL=DD=F FaEDA;@ "=>e@D@9:=F KA;@O=K=FLDA;@=$F>GJE9LAGF=FG<=J '=:=FKO=DL=F AF<=F=FKA;@<9K+M:DACMERM#9MK= EGLAGF=F9F<=JKOG@GD=FRMEeKK=F 9K+M:DACME >e@DL  (AG ^KL=JJ=A;@=J$FF=F@dJ=FLa?DA;@  EMKK<A=_:=JR=M?MF??=OAFF=F <9KKAF?= <A= .LMF<=F&) )36;A 9EALAKL<9K-9<AG<9KE=AKL?=

FMLRL=(=<AME FG;@NGJ<=E!=JFK=@=FMF<O=ALNGJ XK=AFS.=F<=JFA;@L:JAF?L FA;@LOAJCDA;@OA;@LA? KAF< 0F<<9KKFMJXK=AFS.=F<=J<9KKLAEEA?= <=E$FL=JF=L '=:=FK?=>e@DN=JEALL=DL  G;@O9KE9;@L<A= FLK;@=A<MF?>eJ<A=K=K(=<AME A=K=#dJ=J$FF=F:AF<MF?OAJ<<MJ;@=FLKHJ=;@=F<= +JG?J9EEIM9DALaL $<=FLALaLKKLA>LMF?MF<e:=JR=M

)36;A9MK29JME?D9M:=FOAJ <9KK<9K(=<AME )36;A <9KNGJ<=FK=D:=F#=J9MK>GJ<=JMF?=FOA=<A= ?=F<=A=FKLD=AKLMF?=JJ=A;@LLa?DA;@AF<=F&) )36;AE .LMF<=F9E/9? /9?=AE%9@J 9F<=J=F(=<A=FKL=@LVFaEDA;@AE&9EH>ME<9K 0F<<9@=JCGEE=A;@FG;@E9DK9M>E=AF AF?9F?K

(=<A=FR=AL:M<?=L<=J&MF<$FF=FV 9M;@:=AHJA

N9L=F(AL:=O=J:=J$FF=FMF<9DD?=E=AFRMF=@E=F<=J :AD<RMJe;C-9<AGAKLAEE=J<9:=A AE&J9FC=F@9MK  AEMLG AF<=J+GDAR=AO9;@KLM:= :=AE1=JC9M>K?=

(=<A=FNA=D>9DLK=AF==<=MLMF?AF<=FFa;@KL=F%9@

KHJa;@=AF=K!=FKL=J@aF<D=JK AF<=J!9:JAC AE&M@

J=FFA;@LN=JDA=J=FOAJ< KL9DD 2=AD=K-=D=N9FR@9L>eJK=AF=#dJ=J$FF=F O=AD 2=AD)36;AK=AF=:AK@=JA?=F XCD9KKAK;@=FS!MFCLAG

=K/=ADA@J=J'=:=FKO=DL=FAKL O=AD=K>eJ<A=#dJ=J$F

F=FR   @8AD?3F;A@MF<,@F7D:3>FG@9MF<@9J9C

F=F=AF=F2=JL@9L'G4>;5-3>G7 L=JAKLAC9R  *5:@7>>;9=7;F -7D8_943D=7;F=L;  ?JMF<KaLRDA;@:=@9DL=FOAJ< 0F<O=AD<A=&) )36;AE .=@J>Je@9E(GFL9?EGJ?=F<=K (aJRAE%9@J   AF9M=JLJ=A:LK=AF=&e@=RME(=DC=FAF<=F .L9DD 2a@J=F<<A=(=DCE9K;@AF=F9F?=K;@DGKK=F O=J<=F @dJLE9F<MJ;@<=F?9FR=F&M@KL9DD X7DX.75=7D?;F)A47DF"D3F=KS 

&))5&0/ %"

 


G -<:1..< -;+01+0<-

#AKLGJAK;@$FL=J=KKA=JL=>AF<=FA@JF?=:GLAF^AF<=J.=F<=J=A@=7FD;88F 7E5:;5:F7(GFL9?:AK!J=AL9?  V

0@J $F>eF>!GD?=FHJG2G;@= OAJ<B=O=ADK>eF>(AFML=FD9F?HMFCLM=DD=AF?=K;@A;@LDA;@=K J=A?FAK=JRa@DL  NGF <=J +Ja@AKLGJA= :AK RMJ "=?=FO9JL 

 O9J> MFL=J 9F<=J=E 2GD>?9F? +=LJALK;@=AF=FCJALAK;@=FDA;C9M><9K'DA<7=F!G9AE>3I;7@ .MK9FF=2=A?=

DAF .;@OA=<JRAC:=D=M;@L=L=<=F5:;@7E;E5: <3B3@;E5:7@"D;79NGF V MF<JA?ALL=#9E9FF=JAFF=JL=MFK9F<9KFF7@F3F;@*3D3<7HA 

G J:;81-4"<=,17

B  =&'06+6C6    ='4#06914670)

'5%*+%*6'0<74'5%*+%*6'

9K ^DEB;7> *FG6;A MF< <A= ^DEB;7> 3>7D;7 A=FKL9?  

V

 0@J KGOA= .9EKL9?  

V

 0@J JA;@L=F KA;@ 9F =AF KH=RA>AK;@ DAL=J9JAK;@ AFL=J=KKA=JL=K +M:DACME G<=J =AF>9;@ FMJ 9F (=FK;@=F  <A= ?=JF= =AF=J "=

K;@A;@L=D9MK;@=F 9K"=FJ=<=K#dJKHA=DK=J>J=MLKA;@K=AL?=J9ME=J5=AL=AF=J MF?=9@FL=F-=F9AKK9F;= )A;@L:DGZ<=K@9D:@AD>L<=J*-!EAL'=A<=FK;@9>LF=M= #dJKHA=DHJGB=CL=RMJ=9DAKA=J=F 

=FLKL9F<MFL=J<=J'=ALMF?NGF"dLR!JALK;@ =AF=@dJKHA=D?=J=;@L==9J:=ALMF?NGF3E7?7;@67=;@6 <=E-GE9FNGF(9JA= NGF :F=J K;@=F:9;@ "=D=K=FOMJ<=<9K.Le;CNGF DAK9:=L@*JL@ !eJ<A=(M

KACR=A;@F=L=*LLG'=;@F=JN=J9FLOGJLDA;@ ^K=F<=L=<A=RO=AL=ADA?=#dJKHA=D

+JG<MCLAGF9E&9JK9EKL9? <=E MF<9E  (aJR



$<+.3>398?8.'+8./6<+8D8>/6G38/,/80S<./8367 E M?MKL

:J9;@L=<=J*-!=AF=FTDEAK;@=F)9;@JM>9M><=F?JGZ=FdKL=JJ=A;@AK;@=F-=?AKK=MJ !J9FR FL=D  9K +GJLJaL AKL =AF :MFL=J MF< 9EeK9FL=J (AP 9MK R=AL?=K;@A;@LDA;@=F MF< 9CLM=DD=F !ADE9MK

K;@FALL=FEAL5=ALR=M?$FF=FNGF=AFKLMF<B=LRL FL=DK!J=MF<$FF=FMF<2=??=>a@JL$FF=FKHJ=;@=Fe:=J<=F DLE=AKL=J MF< D9KK=F :=AF9@= C=AF /@=E9 9MK  !J9M=F  !MZ:9DD  +GDALAC >=@D=F AF <=J '=:=FK:=K;@J=A:MF? ?=F9MKGO=FA?OA=&G;@=F !J=MF<K;@9>LMF<!=A=JFRMB=<=EOeJ<A?=FFD9KK 9K+GJLJaLAKL=AFDA;C9M> <9K:=JMUA;@=.;@9=F <9KO=ALe:=J3?.A>893@9E77@AF9MKJ=A;@L MF<=AF&=FF=FD=JF=F<=K+JAN9L

E=FK;@=FFL=D <=J9E M?MKL

N=JKL9J: =J*-!OeJ<A?L=<=F?JGZ=F!ADE=E9;@=J!J9FRFL=DFA;@LFMJEAL=AF=E+GJLJaL KGF<=JF9M;@EAL<J=A K=AF=J:=DA=:L=KL=F!ADE= 7DA5=7D7D  MF< - $F<A=K=JGHMD=FL=F!9EADA=FK9?9>e@JL&9JD(=JC9LR9DK D=:=FK>J=M<A?=JMF<MF?=FA=JL=J2A=F=J!D=AK;@@9M=J<MJ;@<A=OA;@LA?KL=F J=A?FAKK=<=JdKL=JJ=A;@AK;@=F MF<=MJGHaAK;@=F"=K;@A;@L= 

G !),17/-;+01+0<-6

1GF(GFL9?:AK(ALLOG;@HJaK=FLA=JL^  V

0@J=AF=9:?=K;@DGK

K=F= DAL=J9JAK;@= JRa@DMF? <A=KA;@EAL,M9DALaLK9FKHJM;@MF<LLJ9CLANALaL 9F=AF:J=AL=K+M:DACMEJA;@L=L E %9FM9J

O9J)36;A97E5:;5:F7@=AF= <=JNA=J.=F<=J=A@=F <A=KA;@EAL=AF=J.H=RA9D9MK?9:=<=E

/G<=KL9? <=K'AL=J9L=FMF<(9D=JK2AD@=DEMK;@OA<E=L=F  N=DQF#9E9FFD9KRM<A=

K=EFD9KK;7DA??77>7@7 =AF2=JC <9KEALLA=>K;@O9JR=E#MEGJ<A= .;@=AF@=ADA?C=AL<=JKHA=Z:eJ?=JDA;@=FMF<>JdEE=DF<=F"=K=DDK;@9>LR=A?L

 


0(14/#6+10#.52'45D0.+%*'41452470)

G27.+<*0.*7-*< .2J.;2<,1.)8>;7*52<=2 <,1.<78@18@+3.4=2?2=N=4=>*52=N=?.;<>< $8B.>;2<6><!.7<*=287<02.;>7-8>5.?*;-D

  %.&/0,-%( / "10"&+:/0".."& %

X.3DG?I3D7GF7;@XEF7DD7;5:2:7GF7@;5:FA@ 67?3@6;? @F7D@7FLGE7:7@ SA=K= (9AD=J@A=DLA;@ NGF?D=A;@E=@J=J=FMKD9F<KdKL=JJ=A;@=J$FF=FJMF< ME<=F"DG:MKAE!Je@B9@J   AFL=;@FAK;@=K+JG:

D=E <9KK;@F=DD?=DdKLO9J !eJEA;@=FL@eDDL=<A=K= (9AD9:=J9M;@=LO9K?9FR9F<=J=K 7GF7;@XEF7DD7;5: AKLE=@J9DK=AFLa?DA;@=K@JGFACE9?9RAF A=K=.=F

<MF?AKLA<=FLALaLKKLA>L=F<AE$F MF<MKD9F< =J'AFC NA=D=JMKD9F<dKL=JJ=A;@=J$FF=FAFA@J#=AE9LD9F<  29K^KL=JJ=A;@:=?=AKL=JL OGJe:=J^KL=JJ=A;@ KHJA;@L O9K^KL=JJ=A;@:=O=?L A=K=1AKAGF@9LL=F A;@MF<E=AF/=9E9EF>9F?<=J FLOA;CDMF?NGF 7GF7;@XEF7DD7;5: #=ML= E=@J9DK MK?9:=F <=K1GJ9:=F<E9?9RAFKKHaL=J AKL9MK<=J1AKAGF-=9

DALaL?=OGJ<=F 9K-=R=HL<9>eJK;@=AFL=AF>9;@ 9M> <=F=JKL=FDA;C7GF7;@XEF7DD7;5:KHA=?=DL<9K /9?=K?=K;@=@=FAE'9F<OA<=J 9KAKL=AF=CD9J=1GJ

?9:=  AF5A=D <9K=AF?9FR=K-=<9CLAGFK /=9EN=JLJ=

L=FC9FF  AF5A=D EAL<=EOAJMFKA<=FLA>ARA=J=F =J RO=AL=DA;CR=A?L<A=.;@OA=JA?C=AL=F <A==KLa?DA;@ RME=AKL=JF?ADL  AF=:K9?=9F<9KX-=AZ=JAK;@=S  %GMJF9DAKLAK;@=K&FGO @GO *:B=CLANALaL CLM9DALaL N=JKMK1GQ=MJAKEMK .=FK9LAGFK?A=JMF<GMD=N9J< 



A=K=La?DA;@=MK=AF9F<=JK=LRMF?>AF<=LAFMFK=J=F -=<9CLAGFKKALRMF?=FKL9LL  KAKL=AF:Oa?=F =AF -=>D=CLA=J=FMF<D=LRLDA;@<9K/J=>>=F=AF=JV<=JJA;@

LA?=FV FLK;@=A<MF?  9K/=9ENGF7GF7;@XEF7DD7;5:=FLK;@=A<=LKA;@La?

DA;@F=M La?DA;@=AFKLAEEA? 2AJE9;@=F+JG?J9EE>eJ MFK=J=&MF<$FF=F 2AJKAF<A=FKLD=AKL=J 0FK=J= A=FKLD=AKLMF?AKL$F>GJE9LAGF G:B=CLANMF<<A=/9LK9

;@=FOA=<=J?=:=F< 9K<9FC=F<A=.=@=J$FF=F $E .;@FALLB=<= J<JALL=/1 &GFKME=FL$F <A= <=JME<A=K= 5=AL>=JFKA=@L =FLK;@=A<=LKA;@LJGLRE=@J9DK  <=MLK;@KHJ9;@A?=J&GFCMJJ=FR9F?=:GL=>eJ7GF7;@ XEF7DD7;5: .9L=DDAL@AF A?AL9DAKA=JMF?@=J  2AJK=@=F<9K9DKM>LJ9?DKM>LJ9? <A=K=F2=? O=AL=JRM?=@=F &GFK=IM=FLMF<G@F=F=A<AK;@=.=A

L=F:DA;C=RMJHJAN9L=F&GFCMJJ=FR  KCGEEL9M><=F $F@9DL9FMF<FA;@LFMJ9M><A=1=JH9;CMF? $F>GJE9LA

GF9DKH=JKdFDA;@=F1GJKHJMF?B=<=J K=AFR=DF=F/1

&GFKME=FL=F$F #A=JK;@DA=ZLKA;@<=J&J=AK <=J,M9

DALaLRMJ,MGL=O=J<=FDaKKL

%.&/0,-%( /


-=<-16G;<-::-1+0D-16-"-6,=6/,1-G;<-::-1+0*-?-/<

7GF7;@XEF7DD7;5:E=D<=LKA;@NGF(GFL9?:AK!J=AL9?ME 0@J9M>*-!  9MK <=J K;@dFKL=F &MDAKK= ^KL=JJ=A;@  9K /=9E  <9K EAL <=J FLOA;CDMF? <=J .=F<MF? :=9M>LJ9?L O9J  AKL FA;@L FMJ 9M> <A= *HLAC <=K .LM<AGK KLGDR  <A= e:=J RO=A -;6;I3>>E <=F %9@J=KR=AL=F =FLKHJ=;@=F<= .LAEEMF?K:AD<=J 9MK^KL=JJ=A;@=AFKHA=DL 5O=A<=J:=DA=:L=KL=F(G<=J9LGJ$FF=F^KL=JJ=A;@K  2GD>J9E+AJ;@F=JMF<&9L@9JAF9&J9E=J HJaK=FLA=J=F<9K/9?=K?=K;@=@=F  0FL=JKLeLRLO=J<=FKA=NGFR9@DJ=A;@=F'AN= -=HGJL=J$FF=F <A=<AJ=CL9E*JL <=K"=K;@=@=FKAF<=FdKL=JJ=A;@AK;@=FMF<=KDaF<=JF<A="=K;@A;@L=F<=J (=FK;@=F=AF>9F?=F AF=<=J:=DA=:L=KL=F-M:JAC=FAKL<=J <A=^KL=JJ=A;@=J$F<=K/9?=K )A;@LK=D

L=FO=J<=F(=FK;@=F <A=KA;@<MJ;@=AF=:=KGF<=J='=AKLMF?@=JNGJLMF RM O=FA?AF<=F(ALL=DHMFCL?=KL=DDL 7GF7;@XEF7DD7;5:>AF<=L<A=K=(=FK;@=F  <A=RMEJA;@LA?=F5=ALHMFCL9EJA;@LA?=F*JLO9J=F <A=<MJ;@A@J F?9?=E=FL MF?D9M:DA;@='=AKLMF?=FNGDD:JAF?=F '=AKLMF?=F <A=!J9MMF<#=JJF^KL=JJ=A

;@=J$FRMDDL9?K@=D<$FF=F RM?9FR:=KGF<=J=F(=FK;@=FE9;@=F 

B  =&'06+6C6    ='4#06914670)

B56'44'+%*?#)(E4#)

<>!)<76,-5)6,

7GF7 ;@ XEF7DD7;5: C9FF  OA= R9@DJ=A;@= 9F<=J= .=F<MF?=F <=K *-!  K=AL

9M;@e:=J<9K$FL=JF=L9:?=JM>=FO=J<=F 9<MJ;@CdFF=FNA=D=+=JKG

F=F <A=RMEMKKLJ9@DMF?KR=ALHMFCLN=J@AF<=JLKAF<G<=J<=F*-!=LO9AE MKD9F<FA;@L=EH>9F?=FCdFF=F <9K2A;@LA?KL=<=K/9?=KMF<<9K'=:=FAF ^KL=JJ=A;@EALN=J>GD?=F

$<+.3>398?8.'+8./6'/6>,/<S27>38K=>/<</3-2 A=+GHEMKAC@9L<A=D=LRL=F:=A<=F"=F=J9LAGF=F<=J^KL=JJ=A;@=J$FF=F ?=HJa?L OA= C9ME =AF= &MDLMJ RMNGJ  (ALL= )GN=E:=J

 KL9JL=L= AE 5M?=<=JA@@7DEF39%35:FAF*-!<A=9;@LL=ADA?=A)A GCME=FL9LAGF .7>F47D_:?F;@XEF7DD7;5: A=GCME=FL9LAGFKJ=A@=:=D=M;@L=L=<A="=

K;@A;@L=<=KMKLJGHGH:RO <=JHGHMDaJ=F(MKAC9MK@=AEAK;@=F'9F<=F AF9DDA@J=F!9;=LL=F  &eFKLD=J$FF=FOMJ<=FHGJLJaLA=JL 9RM=JK;@A=F <A=?D=A;@F9EA?= .=JA= A=:=?D=AL=F<=1 <ALAGFNGF.7>F47D_:?F;@XEF7DD7;5:OMJ<=:=J=ALKEAL K=;@K>9;@=E"GD<9MK?=R=A;@F=LMF<AKL9DK1 GPAF=AF=JKH=RA=DD=F)=M

9MU9?==J@aDLDA;@ <A= (AFML=FdKL=JJ=A;@AK;@=+GHCMDLMJEALe:=JD9F

?=FX;D75FADEGFES<=J=AFR=DF=F!GD?=FMF<9MK?=Oa@DL=EGFMKE9L=JA9D AFCDMKAN=E=@J9DK

9MK?=KHA=DL=JGFMKKGF?K:=AF@9DL=L

4816-"31:-1/61;;-)4;)<<:)3<1>--/)>-6<;

=J &) *BADF CGFFL=

 =JF=ML K=AF= &GEH=L=FR AF .9;@=F#;H7 *=; Y47DFD39G@97@ MFL=J =O=AK KL=D

D=F 2=ALe:=J=AF=(AG 5MK;@9M=J$FF=F:=A.9AKGF #A?@DA?@LKMF<=AF.9AKGF MJ;@K;@FALLNGF

5M

K;@9M=J$FF=F:=D=?=F<A=LLJ9CLANALaL A=K=59@D=F9DD=AF=J=;@L>=JLA?=F:=J=ALK<=F=PLJ=E=FL=;@FAK;@=F M>O9F<<=K*-! (AL<=J_:=JLJ9?MF?NGFOAFL=JDA;@=FAD<=JF9MK<=FdKL=JJ=A;@AK;@=F.CA -=?AGF=FAFK MKD9F<AKL<=J*-!VKH=RA=DD<MJ;@<A=2AFL=JKHGJLe:=JLJ9?MF?=FV9M;@=AFOA;@LA?=J+9JLF=J>eJ<=F dKL=JJ=A;@AK;@=F/GMJAKEMK




1.-5/75+-?9+'B56'44'+%*-.+0)6

G!.2=-.6*1;+.6P1.7@2;>7<.27.; ";*-2=2870.;.,1=C>@.;-.7-2.*+<.2=< *55.;68-2<,1.7!=;O6>70.752.0=>7-27 <2,10.;*-.-.<1*5+.27.>705*>+52,1. 7C2.1>70<4;*/=/P;?2.5..7<,1.7+2;0=D

 "-- ,. %". )&+$"+!"/:/0".."& %

(AL<=E=?JA>>'G4>;5-3>G7C9FFA;@FA;@LNA=D9F>9F

?=FMF<O=FFA;@<9K2GJL-A>=E=G>FGDN=JF=@E=  :=?AFF=A;@<9JMFL=JRMD=A<=F <9KKE9F=KFG;@ AEE=JFA;@LRM.L9F<=?=:J9;@L@9L <A=K=F=?JA>> =AF<=MLA?RM<=>AFA=J=F 1GDCKCMDLMJ9DK,M9DALaLK

E=JCE9D:=?AFFL:=AEAJRO9F?KDaM>A?AE">;@97@67@ XEF7DD7;5:"=KL9DL9FRMF=@E=F  &MDLMJ@=AZL>eJEA;@B=FK=ALKNGE&ALK;@RMK=AF #=A

E9LAE:=KL=F.AFF=<=K2GJL=KRMN=JEALL=DF $F EALLD=JO=AD=.=F<MF?=F@9:=FOAJ=AF9MLG;@L@G

F=KdKL=JJ=A;@AK;@=K!=JFK=@>GJE9L?=K;@9>>=F <9K <=F+JAFRAHA=F<=Kd>>=FLDA;@ J=;@LDA;@=F-MF<>MFCK AF:=KL=J2=AK==FLKHJA;@L  !=JFK=@HJG?J9EERME9;@=F <9K:AD<=LMF<MFL=J

@aDL <9:=AEd?DA;@KLNA=D=5MK=@=J$FF=F=JJ=A;@L AKL =AF=?JGZ=#=J9MK>GJ<=JMF? <A=OAJ?=JF=9F?=FGE

E=F@9:=F .=AL<=E%9@J:=Ee@=FOAJMFK  =AF=J/J9<ALAGF?=J=;@LRMO=J<=F <A=9:K=ALK9DD=J EG<AK;@=F.LJdEMF?=FDA=?LMF<AFKA;@?=J9<=<=K

@9D:=AF=MF?D9M:DA;@=FRA=@MF?KCJ9>L>eJNA=D=(=F

K;@=F:AJ?L 



AF=0FL=JKM;@MF?9MK<=JF>9F?KR=ALMFK=J=J.=F

<MF?@G::=KGF<=JK@=JNGJ <9KKKA==AF"=K;@=FC >eJ<A=aDL=J="=F=J9LAGFK=A =ERMOA<=JKHJ=;@=F E9;@LEAJAFKG>=JF1=J?Fe?=F O=ADA;@O=AZ <9KK MFK=J+M:DACMEIM=J<MJ;@9DD=DL=JKK;@A;@L=F J=A;@L =JK;@dFKL==O=AK>eJ<A=K=/9LK9;@=KAF< NA=D=BMF?=1GDCKEMKAC9FL$FF=F <A=@=ML=AE">;@ 97@67@XEF7DD7;5:9M>LJ=L=F 1A=D=NGFA@F=FO9J=F FG;@FA;@L9M><=J2=DL 9DKOAJMFK9M><=F2=? E9;@L=F 1GDCKCMDLMJ9DK,M9DALaLKE=JCE9DAEdKL=J

J=A;@AK;@=F!=JFK=@=FRME9FA>=KLA=J=F =JDA;CAF <A=5MCMF>LE9;@LEA;@@G>>FMF?K>JG@ O=AD9MKB=<=J "=F=J9LAGF=AF=aDL=J=OAJ< 

"-- ,. %".


416/-6,-;G;<-::-1+0

.=;@KE9D AE %9@J :=?A:L KA;@ .=HH !GJ;@=J AF K=AF=F .=F<MF?=F 9M> 29F

<=JK;@9>L IM=J <MJ;@ ^KL=JJ=A;@  J9M;@LME MF< '9F<K;@9>L  MFN=J>aDK;@L= 1GDCKEMKACMF<LJ9<ALAGF=DD=$FKLJME=FL=KAF<<A=5ML9L=F>eJ<A= J>GD?KK=F

<MF?">;@97@67EXEF7DD7;5: A=.=F<MF?OAJ<9DL=JFA=J=F<NGF<=F&) #3@ 67EEFG6;AE*3>L4GD9MF<*F7;7D?3D=HJG<MRA=JL  $F<=J .=F<MF?">;@97@67EXEF7DD7;5:AE=R=E:=J

@9L.=HH!GJ

;@=J9M><=E=A?=FLDA;@J=;@LCMJR=F2=?-A?";D5:7@47D9LG?.7;@47D9<A= D9F<K;@9>LDA;@=MF<CMDLMJ=DD=1A=D>9DL<=J"=?=F<JMF<ME<A=KL=AJAK;@='9F

<=K@9MHLKL9<L"J9RRMJ"=DLMF??=:J9;@L

-141)*;<-&-1;

.=AL 

 HJaK=FLA=JL !J9FR +GK;@ <A= /1 1GDCKEMKACK=F<MF?  :=A <=J BMF?=MF<9JJANA=JL=1GDCEMKAC=J$FF=F<A=LJ9<ALAGF=DD=F'A=<=J<=J=AFR=D

F=F-=?AGF=FHJaK=FLA=J=F .=AL AKL<A=.=F<MF?AE.9EKL9? #9MHL

9:=F<HJG?J9EEMF<=J>J=MLKA;@K=AL@=J=AF=JCGFKL9FL@G@=F5MK=@=J$F

F=FR9@D  /J9<ALAGFKJ=A;@=  :G<=FKLaF<A?= 2AJLK@aMK=J AF ^KL=JJ=A;@ MF< <=F )9;@:9JDaF<=JF :A=L=F <A= &MDAKK= >eJ !J9FR +GK;@ MF< K=AF= "aKL=  5A=D<=J+JG<MCLAGF<=K&) #3@67EEFG6;AE+;DA>KAF<+>D=?=MF<+JaK=FL9

LAGF<=J@=AEAK;@=F1GDCKEMKACLJ9<ALAGF  !J9FR+GK;@:=KM;@L=

R  .LJG:D9E2GD>?9F?K==MF<DM<<A= DDE77 >[E7D <A=3?;>;7#3;?7DMF<<A=+3@@I;@=>7D7;97@?GE;=RME(MKARA=J=F =AF $F#AJK;@=??:9L=J<A=)AG9>7D <A=>?:_FF@ *[@97DMF<<A=BMF?=F(M

KAC=J<=J(G7FE5:97;97DME<=J=F>;34EF7.7;E 

B  =&'06+6C6    ='4#06914670)

1.-5-7.674+/

$<+.3>398?8.'+8./6#-26?<0G37#A3811/1/8./86/3-2=-2<3>>G.95F67 .A=:=F9@E=FKA;@DaKKA?MF<@9LL=FD9F?=#99J= KA=DA=:L=F<=F.OAF?MF<<=F%9RR KA=@9KKL=F<=F"D=A;@

K;@JALLV<A=*5:>GD8E A=@=ML=F9@=RMN=J?=KK=F=%M?=F<CMDLMJ=L9:DA=JL=KA;@AF<=F =J%9@J=FNGJ9D

D=EAF2A=F 9K@=AEAK;@=+=F<9FLRM<=F=JDAF=J*I;@9E=FLK;@A=<KA;@:=OMKKLRM=AF=J'=:=FKCMDLMJ <A= O=AL=FL>=JFLNGF<=F$<=9D=F=AF=JF9LAGF9DKGRA9DAKLAK;@=F"=K=DDK;@9>LKL9F< /9MK=F<=%M?=F<DA;@=K;@DGK

K=FKA;@<A=K=J=O=?MF?9FMF<HJGL=KLA=JL=FKG9M>A@J=?9FR=A?=F=JLMF<2=AK= =JGCME=FL9JTDE RME.=F<=KL9JLNGF6A= O>?9E HJAD

NGF(GFA;9'9<MJF=JMF<2GD>?9F?=Q=J=JRa@DLNGF=AF=J N=J?=KK=F=F-=:=DDAGF <A=FG;@FA=RMNGJTDEAK;@<9J?=KL=DDLOMJ<= 

-:6;-0:K0;+0788-6

(AL<=E&) 7D@E7: D_:E5:ABB7@!=A=JL9? 

0@J *-! HJaK=FLA=JL <=J*-!X=;@L=S1GDCKEMKACMF<:A=L=L=AF= AFKLAEEMF?9M><=F!=A=JL9? A= NGE&) #3@67EEFG6;A*3>L4GD9HJG<MRA=JL=.=F<MF?=FL>e@JL<9K+M:DACME 9F<A=K;@dFKL=F*JL=^KL=JJ=A;@K FB=<=E!=A=JL9?Da<L<=J*-!=AF=FHJG

EAF=FL=F"9KLOA=F<J=9K"GD<:=J?=J &D9MK :=J@9JLAF?=J FB9&JMK=G<=J "=J@9J<5=E9FF=AF ME:=AGJA?AF9D=J1GDCEMKAC<A=JaM;@=<=J-=?AGF=F RM<=F:=KLAEEL=F!=KLL9?=FC=FF=FRMD=JF=F .GD9MK;@L=R  )AE7@:7;? AB%GK=H@#9FF=KK;@Da?=JRMDD=J@=ADA?=F<=FK;@9MJA?=FMF<EQKLAK;@=F .9?=F<=K$FFNA=JL=DK




#5 4%*+8 +0D56'44'+%*+5%*'47.6745%*#6<

G.2-.7.;7<.1;,12?.72<=K<=.;;.2,162==5.;@.25. .27.;8J6*,1=*< ;,12?4O77=.*5<?2;=>.5 5.<.-N,1=72<)-.;*=287+.C.2,17.=@.;-.7D

 "0". 1/"(   ,(1*"+00&,+1+!. %&2"

(9FCdFFL==K9DKXH;DFG7>>7E76[5:F@;E67D%3F;A@S :=R=A;@F=FV<9K@G;@EG<=JF=*-! !=JFK=@9J;@AN  <9KA;@NGF:AK RO=A%9@JR=@FL=D9F??=D=A

L=L@9:= A=1GJ?=K;@A;@L=O9J=F<A=$76;7@=A887D <=JKHaL=F =J%9@J=MF<<9FFVMFL=J<=J'=ALMF? NGFJ #M?G+GJLAK;@V<A=FMFK;@GFD=?=F<aJ=F .=JA=FXEF7DD7;5: MF<XEF7DD7;5: 9E9DKO9J A;@X)GL@=D>=JS <=FF<A="=K;@A;@L=<=J(=<A=F9J

;@AN=AF^KL=JJ=A;@AKLV=LO99M;@AE1=J?D=A;@RM !J9FCJ=A;@ #GDD9F<G<=J.;@O=<=FV=AF=AD9FR <=JXN=JKaMEL=F(d?DA;@C=AL=FS %=<=F>9DDKO9J=K FMJ<MJ;@=AF=/1 "JGZL9LOA=XEF7DD7;5: Ed?DA;@  <A=<9E9DKFG;@AF9DD=2=DLN=JKLJ=ML=F!ADE<GCM

E=FL=<=JdKL=JJ=A;@AK;@=F5=AL?=K;@A;@L=F9;@ ^KL=JJ=A;@RMJe;CRM>e@J=F:RO &GHA=FRMK9E

E=DFMF<RM=JK;@DA=Z=F  A="=:MJL<=KX;EFAD;E5:7@D5:;HESO9J<A=!GD?= MF<<A=<9E9DK:DMLBMF?=F#AKLGJAC=J$FF=FV<9JMFL=J E=AFB=LRA?=J)9;@>GD?=JMF<D9F?Ba@JA?=J.L=DDN=JLJ=

L=J#=J:=JL#9Q<M;CVO9J=FL9LKa;@DA;@(=<A=F9J

;@AN +AGFA=J$FF=F 9K*-! !=JFK=@9J;@AN>JAKL=L= <9E9DKFG;@=AFOAJCDA;@=KX.LA=>EeLL=J;@=FS

9K=AF 1GJRO9FRA?%9@J=Fe:=JF9@EA;@<9FF ?=E=AFK9EEAL<=F(AL9J:=AL=J$FF=F<=K;EFAD; E5:7@D5:;HE<A='=ALMF?<=K&) 7D@E7: 3GBF3D 5:;HE 0F<FMF?AF?=K.;@D9?9M>.;@D9?A=(G<=J

FAKA=JMF?:RO A?AL9DAKA=JMF?<=KJ;@ANK:=?9FF ?=E=AFK9EEAL=D> 0 +JGB=CL=FOA=GDA?76;3OMJ<= <9K*-! /1 J;@ANRMJX#=JR=A?= FKL9DLS9M;@AE AFL=JF9LAGF9D=F1=J?D=A;@ 

1GF:AK O9JA;@+JaKA<=FL<=K2=DLN=J:9F

<=K<=J!=JFK=@ J;@AN= + K=AL.=HL=E:=J AKL #=J:=JL#9Q<M;CF=M=J+JaKA<=FL<=J + A=K= !MFCLAGF=F@9:=Fe:DA;@=JO=AK=<A=?JGZ=F J=A;@=F d>>=FLDA;@ J=;@LDA;@=FFKL9DL=FOA=<A=>J9FRdKAK;@= $) @EF;FGF%3F;A@3>67>G6;H;EG7> <A=:JALAK;@= G<=J<A=AL9DA=FAK;@=-$AFF= G;@:=A<=F!=JF

K=@ J;@AN=FAKL^KL=JJ=A;@EALLD=JO=AD==AF="JGZ

E9;@L $FEALL=F<=JLJ9<ALAGFKJ=A;@=FJ;@AN MK:AD

<MF?AE @EF;FGF8_DXEF7DD7;5:;E5:77E5:;5:FE8AD E5:G@9 e:=J<9K#=AEALGNGFG<=J=JAF<=F[?A @7@:RO AF<=J*FDG67>:A8EF;797DAL=J9JAK;@:=JA;@L=L @9L ?A:L=K=AF=A?=F=K1 (=<A=F (G<MD #A=J>MF

?A=J=FAF=JKL=J'AFA=<A=(AL9J:=AL=J$FF=F<=K*-!

!=JFK=@ J;@ANK9DK'=@J=J$FF=F  A=1;OAJ<:=J=ALKXL9H=D=KKS 9DKGNGDD <A?AL9DAKA=JL :=DA=>=JL J;@AN=?=KL9DL=L=F.=JA=FOA=1;6353BA MF<J=<A?A=JL=F5MKHA=DMF?=F>eJ-7D3G<=J#=DEML 5ADCK#747@E=_@EF>7D A=)MLRMF?<=KJ;@ANK@9L KA;@AF<=FN=J?9F?=F=F %9@J=FN=JR=@F>9;@L <A= -=;@L==JK;@DA=ZMF?:=J=AL=L<9K&) D5:;H9M><A= e:=J>aDDA?=^>>FMF?NGJ 0F<<9K=JKL=CGFCJ=L=+JG

B=CLX;9;F3>;E;7DG@967D'3D>3?7@FE47D;5:F7S <9KA;@ ?=E=AFK9EEAL.N=F.9=C=JLD=AL= KGDDOA;@LA?=HGDA

LAK;@=$F>GJE9LAGFNA9$FL=JF=LAF!GJE<=KXA>67@ D5:;H7E'DA<75FE8AD'3D>;3?7@FES9F<A=%M?=F<@=J

9F:JAF?=F  AFOA;@LA?=J.;@JALL <=FA;@F9;@E=AF=J _:=J?9:=9F#=J:=JL#9Q<M;CFG;@9DK&GFKMD=FL :=LJ=M=FO=J<= =J/1 &MDLMJK;@9LROAJ<9DKG:9D< >eJ<A=:J=AL=^>>=FLDA;@C=ALRM?aF?DA;@O=J<=F  

"0". 1/"(




-=2)0:;376B-:<

.=AL %9@JR=@FL=F HJaK=FLA=J=F <A= 2A=F=J +@AD@9JEGFAC=J A@J=E +M:DACME RME %9@J=KO=;@K=D =AF @=AL=J=K MF< RM?D=A;@ :=KAFFDA;@=K +JG?J9EE 9MK <=EJ=A;@=F-=H=JLGAJ=<=J.LJ9MZ QF9KLA=MF<<=J=F5=AL?=FGKK=F A=K= %7G<3:DE=A@L7DF7 =J>J=M=F KA;@ FA;@L FMJ AE (MKACN=J=AFKK99D AF 2A=F ?JG

Z=J=DA=:L@=AL KGF<=JF ?=FA=Z=F <MJ;@ <A= O=DLO=AL=!=JFK=@e:=JLJ9?MF? <=K*-! <A=EALLD=JO=AD= 'aF<=J=JJ=A;@L =AF@G@=K(9Z9F+GHMD9JALaLAE $F MF<MKD9F< 

KL9F<5M:AF(=@L9RMENA=JL=F(9D9EAJA?=FL=FHMDL  :=FKGLJ9<ALAGF=DDOA=<9K&GFR=JLK=D:KLAKL9M;@<=J+M:DACMEK=J>GD?>eJ<=F*-!

 :7<-;<;76/+76<-;<

)9;@<=EFMF:=J=ALKK=AL

=J>GD?J=A;@HJGL=KLA=JLOAJ< @9LKA;@<9K+JG

B=CL=AF=F?ML=F-M>=J9J:=AL=L MF<KGO=J<=FB=<=K%9@JE=@J"aKL= 9F<K MF<(MKAC=J$FF=F<9J9M>9M>E=JCK9E =J'DAF7EFEA@95A@F7EFAKL<=E9FLA

>9K;@AKLAK;@=FM>KL9F<<=K!=:JM9J ?=OA<E=LMF<KG=J>GD?L=<=JM>

L9CL9M;@

OA=<=JNGE:AD67D.;7@7DD47;F7D @@7@ MKO=ALe:=J

 AFK=F<MF?=FOMJ<=FRMFa;@KL .GF?K>eJ<9K1GJ>AF9D=9MK?=Oa@DL <A= R=@F:=KL=FOMJ<=FDAN=AE2A=F=J-9:=F@G>HJaK=FLA=JL "=OGFF=F@9:=F <=F2=LL:=O=J:

$;7L7$76GE3+7@67D4AK873F -;A>7FF3'3D;E;@;

B  =&'06+6C6    ='4#06914670)

B56'44'+%*+'.(#.6<C*.6

5),-=;=;<:1)6=;1+?):,

E (9A

KL9F<^KL=JJ=A;@K(MKACKR=F=OA=<=J?9FRAE5=A;@=F<=K ?367GE GEFD;3@ $GE;5 I3D6E MF< <=J *-! O9J DAN= <9:=A  =J?367GE OAJ< 9F <A= AF ^KL=JJ=A;@ =J>GD?J=A;@KL=F @=AEAK;@=F MF< AFL=JF9LAGF9D=F &eFKLD=J$FF=FN=JDA=@=F A="=OAFF=J$FF=FO=J<=FNGF<=J?367GE %MJQ V

+=JKGF=F9MK<=JdKL=JJ=A;@AK;@=F(MKAC MF<(=<A=F:J9F;@=V?=

Oa@DL =F"=OAFF=J$FF=FAF<=J&9L=?GJA=$ >F7D@3F;H75F67E!3:D7E :=KLAEE=F <A= !( #dJ=J$FF=F 

 ?9: =K 9:=J 9M;@ =AF= F=M= &9L=

?GJA= (AL <=E ?367GE 5367?K I3D6 OMJ<=F <A= :=KL=F dKL=JJ=A;@A

K;@=F &eFKLD=J$FF=F MF< 9F<K MF9:@aF?A? NGF A@J=J @9JL +D9LRA=JMF? 9MK?=R=A;@F=L  0FL=J <=F +J=AKLJa?=JF O9J=F $7>   #GFF7@47D97D">G9  )747==33==7@MF<J5GE7?7$AE7E 

-;<:7A

^KL=JJ=A;@K/@=9L=JKR=F=AKLO=ALe:=JK=AF="J=FR=F@AF9MK:=C9FFLMF<>=A

=JL?JGZ= J>GD?=NGJ@=AEAK;@=EMF<AFL=JF9LAGF9D=E+M:DACME "JMF<?=

FM?  <A= /@=9L=JK;@9>>=F<=F <=K '9F<=K =AFE9D AE %9@J EAL =AF=E +J=AK RM =@J=F M;@<=J*-!:=L=ADA?LKA;@9F<A=K=E+J=AKMF<e:=JLJa?L<A=1=JD=A

@MF? 

OMJ<=<=J"9D99:=F<=JKLE9DKDAN=9M>/2MF<R=ALN=JK=LRLAF *-! 9MK?=KLJ9@DL L9?K<9J9M>NA9 K9L MK?=R=A;@F=LOMJ<=F.QDNA9-G@J=J 9DK :=KL= .;@9MKHA=D=JAF  =JF@9J< .;@AJ 9DK :=KL=J .;@9MKHA=D=J  "JR=?GJR %9JRQF9>eJ<A=:=KL=-=?A=MF<-=Fc+GDD=K;@9DK:=KL=JMLGJ 

=;13-;<1>)4:).-6-//

^KL=JJ=A;@@9LK=ALM?MKL

=AFF=M=K.GEE=J>=KLAN9D<9K$GE;= 7EF;H3> D387@799  <9K MFL=J <=J CeFKLD=JAK;@=F '=ALMF? <=K dKL=JJ=A;@AK;@=F .L9J

HA9FAKL=F-M<GD>M;@:AF<=JKL=@L =J*-!e:=JLJM?<A= Jd>>FMF?K?9D9NGJ <=E.A>=7@FGD?EAL <=J AFL=JF9LAGF9D ?=>J9?L=F*H=JF AN9-=Fc=!D=EAF? 9E M?MKL

 




=.<:)/     

   

   

   

    

-1;<=6/ 











&GHJG<MCLAGF  !dJ<=JMF?  5MK9EE=F9J:=AL  dKL=JJ=A;@AK;@=J$F@9DL  dKL=JJ=A;@AK;@=+JG<MCLAGF &GGH=J9LAGFEAL<=F&J=9LAN=F <=K'9F<=K

-0:?-:< &!#"G$  .K:G;<-::-1+0

G<0.1=26.;7-*;>6;80;*66.*>J.;1*5+-.;;.27.7*;4=6.,1*72<6.71.;?8; C>+;270.7E.27*>=1.7=2<,1.<25--.;%2;452,14.2=C>C.2,17.7-*<$.;<=N7-72<C> /O;-.;7>7<C><=26>52.;.7>7<C>6*,1.7C>+;270.7817.*7-.;.1.;*+C><.=C.7 'I(2.@2;452,1@2,1=20.7.;<87.727-2.<.6&><*66.71*70<27--2.;8->C.7=.7 -2..-2.7<,1*//.7-.7>7--2.<..7<,1.7+;*>,1.7.27.727<=2=>=287.55.7 *1 6.7-.;<2.27<92;2.;=>7--.;.27.7=18<-.<0.6.27@8158;2.7=2.;=.7 >7-/>74< +.;.2=<=.55=D 7-;.@;*1*6 GK//.7=52,1;.,1=52,1.; >7-/>7427-.;.684;*=2.D




=J*-!MFL=JKLeLRLMF<>dJ<=JL<A=dKL=JJ=A;@AK;@= &J=9LANOAJLK;@9>L !ADE=O=J<=F=FLOA;C=DL .=F<MF?=F ?=HD9FL +JG<MCLAGF=FAFM>LJ9??=?=:=F ^>>=FLDA;@=J -MF<>MFC:A=L=L=AF=Fd>>=FLDA;@=F-9ME *>>=F9M;@>eJ &MFKL MF<&MDLMJK;@9>>=F<=9MK^KL=JJ=A;@  ,M9DALaLKHJG<MCLAGFAF!=JFK=@=F -9<AGMF<$FL=JF=LAKL L=M=J /JGLR<=E?ADL2=FF<=J"=AKLO=@L OG=JOADD  EMKKA@E<=JX-MF<>MFC<=J"=K=DDK;@9>LS9M;@<A= /eJ=Fd>>F=F 

:)3<1;+0-:=<B-6 

AF=JC=FF:9J=J2=JL>eJ<A=&J=9LAN 2AJLK;@9>L AF^KL=JJ=A;@




"746+(670)810&'06+6C6

G;*6.786O-2.7!*=2;.7>7-#7=.;1*5=>70< 9;80;*66.O<=.;;.2,12<,1.;;.*=2?.;-2.7.7 -.;.<.55<,1*/=*5<!92.0.5*5<>.55.-.; ;+*>>70#7=.;1*5=>70>7--.; ./5.A287D

 "&+.& %&/   ".+/"%#&)*

^KL=JJ=A;@AK;@=!ADE=MF<.=JA=FKAF<=AF=R=FLJ9D= &MDLMJD=AKLMF?<=K*-! $EO=AL=KL=F.AFF=0FL=J@9D

LMF? B=<G;@0FL=J@9DLMF?EAL#9DLMF? EALFKHJM;@  =AFRA?9JLA? A<=FLALaLK MF<KHJ9;@:AD<=F< -=A@=FOA='A>FMF<+D3GF?3@@:9KA=J=F9M>2=JC=F dKL=JJ=A;@AK;@=J.;@JA>LKL=DD=JOA=&GE9J=CMF<#AF

L=J:=J?=JMF<KAF<<=FFG;@=A?=FKLaF<A?=J:=AL=F >eJ<9K!=JFK=@=F !9EADA=FK=JA=FOA=7D.;@L7D=^ @;9LJ9FKHGJLA=J=FLGMJAKLAK;@=.;@dF:AD<=J B=<G;@ =JdJL=JFKA=9M;@?=K=DDK;@9>LKHGDALAK;@J=D=N9FL= /@=E=F "JGZHJG<MCLAGF=FOA="DA@BD;@L)G6A>8 :=O=AK=F<A='=:=FK>a@A?C=ALMF<?=KL9DL=JAK;@= &J9>L<=K*-!AFF=J@9D:AFL=JF9LAGF9D=J"JGZHJG<MCLA

GF=F !=JFK=@>ADE=OA=D3@LG5:EQ;@'3FD;AF>=K

K=DF<A=)9LAGFMF<?=OAFF=FAFL=JF9LAGF9D=+J=AK= 0FL=J@9DLMF?KK=JA=FOA=$  KHaL=J%AHAF@K G@6$3DAG6;MF<<=EFa;@KL;7#AFFAE;797D  FE5:GE5:7@BAI7D -;FZE7= 7DG8E5:@7;67D=L;  KAF<>J=;@ CJALAK;@MF<LJ9FKHGJLA=J=F=A?=FKLaF<A

?=F#MEGJ 0F<KA=KAF<=AF<=MLA?<=E*-!RM?=GJ<

F=L +JG?J9EE= <A=<=J*-!=PCDMKAN9F:A=L=FC9FF  OA=9M;@<A=!9EADA=FK=JA=&47@A:@7 DA=?=FAF<=J +M:DACMEK?MFKL?9FRG:=F  9KF?=:GLNGF?D=A;@R=ALA?9MK?=KLJ9@DL=F AF&GHJG

<MCLAGF@=J?=KL=DDL=F.=JA=FMF<!ADE=FAKL=AF#AD>KEAL

L=D =AF=&Je;C=RMJ(9PAEA=JMF?<=J+JG?J9EED=AKLMF? AF-=D9LAGFRM<=F=AF?=K=LRL=F(ALL=DF 5O9J<A=FL<A=

K=K#AD>KEALL=D<=E&MDLMJ=PHGJLdKL=JJ=A;@AK;@=F+JG

?J9EEKNGJ9DD=EAFK<=MLK;@KHJ9;@A?=MKD9F< AKL 9:=JAF@9DLDA;@MF<>GJE9D=AF&GEHJGEAKKHJG?J9EE  EALKA;@L:9J=F&GFR=KKAGF=F9F<A=&G>AF9FRA=JKMF< 

&GHJG<MR=FL$FF=F $EK;@D=;@L=KL=F!9DDKAF<<9K <=MLK;@=!=JFK=@>ADE=EALdKL=JJ=A;@AK;@=FMLG

FMEE=JF A=K=KF?=:GLOeJ<=NGE+M:DACME<=K *-!K=DL=F9DK=A?=FKLaF<A?=+JG?J9EED=AKLMF? O9@J?=FGEE=FO=J<=F !ACLAGF9D=+JG<MCLAGF=F?=@dJ=FRM<=FL=M=JKL=F +JG?J9EEEAFML=F<=K!=JFK=@=FK $FOAJLK;@9>LDA;@ @9JL=F5=AL=FAKL<A=1=JDG;CMF? ?=J9<=@A=J?JGZ= AFKH9JMF?=FRME9;@=F K=@J@G;@ MF<<9K:=AN=J

?D=A;@KO=AK=?=JAF?=E1=JDMKL9F+JG?J9EER=AL  !aDDL<A==A?=FKLaF<A?=+JG<MCLAGFNGF!ADE=FMF< .=JA=F<MJ;@<=F*-!MFL=J=AF=CJALAK;@=(9KK=  FAEEL<9K+M:DACME<=F*-!FA;@LE=@J9DK.;@dH>=J dKL=JJ=A;@AK;@=J$<=FLALaLO9@J =J>ADEOAJLK;@9>LDA;@=KH=CLKL=DDLKA;@G>L9DKR=F

LJ9D<9J N=JKL=DDL<=FDA;C9M><A==<=MLMF?<=J dKL=JJ=A;@AK;@=F+JG?J9EEK;@dH>MF?9DKO=K=FLDA

;@=KF?=:GL>eJ=AFdKL=JJ=A;@AK;@=K+M:DACME =J *-!:=9M>LJ9?LFA;@L!ADE=MF<.=JA=F ME=AF=J)GL D=A<=F<=F&J=9LAN:J9F;@=<9K_:=JD=:=FRM=JEd?DA

;@=F  K?=@LME=AFR=FLJ9D=K.L9F<:=AF<=K!=JFK=

@=FKK;@D=;@L@AF =J*-!=FLOA;C=DL >AF9FRA=JLMF<HJG<MRA=JLdKL=JJ=A

;@AK;@=!ADE=MF<.=JA=F ME<=ER9@D=F<=F+M:DA

CMER=AL?=EaZ=>ACLAGF9D=$F@9DL=9FRM:A=L=F 0E K=AF= PAKL=FR:=J=;@LA?MF?9DKCMDLMJKLA>L=F<= FKL9DLRM=J@9DL=F RM:=O=AK=FMF<9MKRM:9M=F  MF<MEK=AF=E+M:DACME<9K=PCDMKAN=1=J?Fe?=FRM :A=L=F KA;@K=D:KL <9K'9F<MF<K=AF=5MKLaF<=AF @G;@O=JLA?=F+JG?J9EE=FOA=<=JRM=JC=FF=F 0FL=J

@9DLMF?9M>@G@=E)AN=9M 0FL=J@9DLMF?EAL#9DLMF?  

"&+.& %&/


=J *-! AKL R=FLJ9D=J M>LJ9??=:=J >eJ <A= dKL=JJ=A;@AK;@= !ADEOAJLK;@9>L  1GE&AF<=JHJG?J9EE:AKRM#G;@?D9FR !ADEHJG<MCLAGF=FV=AF?ML=J/=AD<=K *-! +JG?J9EEKOAJ<NGF/1 +JG<MCLAGFK>AJE=FAF9DD=FMF<=KDaF<=JF@=J

?=KL=DDL $FK?=K9ELOMJ<=F

M>LJa?=AE1GDME=FNGF (AG  MJGN=J?=:=F    (AG  <A= AF AFK?=K9EL

 .=F<=EAFML=F dKL=JJ=A;@AK;@= $<=FLALaL MF<&MDLMJLJ9FKHGJLA=J=FMF<-=>D=PAGF=Fe:=JdKL=JJ=A;@AK;@= A?=F@=AL=F =JEd?DA;@=FKGDDL=F

 











38?>/8



?0><+1==?77/

M>LJa?=9FdKL=JJ=A;@AK;@=+JG<MR=FL$FF=F

  



  

GCME=FL9LAGF=FMF<(9?9RAF=  .@GO     .=JA=F     /1 !ADE     &AFGTDE !ADE !=JFK=@9:CGEE=F 

     

   

    

     

        

    

B  = '465%*D2(70)    ='4#06914670)

'*49'46&74%*D56'44'+%*+5%*'4'#6+89+465%*#(6

-:!)4;J:,-:-:>76167.145-6

_:=J<9K;>? 7D@E7:34=A??7@>AF9FRA=JL=<=J*-!AE5=ALJ9ME

  &AFG>ADE +JGB=CL=  9:=A 9;@L=L <=J *-! FA;@L FMJ 9M> =AF=F Ed?DA;@=F CGEE=JRA=DD=F J>GD? KGF<=JF9M;@9M><A=CMDLMJ=DD=:RO ?=K=DDK;@9>LDA;@= -=D=N9FRMF<<=F<9J9MKJ=KMDLA=J=F<=FAD<MF?K=>>=CL  AF=J<=J#d@=HMFCL=<=K!ADEB9@J=K

O9JG@F=5O=A>=D?#;?;F 

 &AFG:=KM;@=J$FF=F =J!ADER=A?L=AF=F-=CGJ<N=JKM;@<=JJe<=J/@GE9K MF<D=P9F<=J#M:=J <A=RM<=FO=DL:=KL=F PLJ=E MF<DHAFCD=LL=J=JFMF

K=J=J5=ALRa@D=F +=H=9FIM9JLAKL<=F:=A<=FJe<=JFAF<A=0.MF<F9;@ +9L9?GFA=F?=>GD?L A=AD<=J<=J&D=LL=J=JKAF<9L=E:=J9M:=F<MF<R=A?=F <A="J=FR=<=KH@QKAK;@MF<HKQ;@AK;@(9;@:9J=F  :=FKGAFL=J=KK9FLO9J0<G(9MJ=JK!ADEY47D.3EE7D A=GCME=FL9LAGF=J

Ra@DLAF<J=A&9HAL=DF 9MK<J=AMFL=JK;@A=<DA;@=F/=AD=FMFK=J=J J<= NGF<=J =PAKL=FRA=DD=F=<=MLMF?<=K D=E=FLK29KK=J>eJ<A=(=FK;@@=AL =J!ADE ?9: <MJ;@ <A= .;@AD<=JMF? MFL=JK;@A=<DA;@=J '=:=FKNGJ9MKK=LRMF?=F =FC

9FKLdZ=RMJ.L=A?=JMF?<=KdCGDG?AK;@=F=OMKKLK=AFK  FB9.9DGEGFGOALR?9:EAL"GDL63HAD;EF7EB3EE;7DF=AF=F:==AF<JM;C=F<=F AF

:DA;CAF<A=-=9DALaL<=KEG<=JF=F(=FK;@=F@9F<=DK !eF>+=JKGF=F=JRa@D=FAF A@J=E9DDLa?DA;@=F0E>=D<"=K;@A;@L=F <A=KA=FA==JD=:L@9:=F .A=?=:=F<A= =JA;@L= NGF =LJG>>=F=F <=K !J9M=F@9F<=DK OA=<=J  A= "=K;@A;@L=F :J=;@=F AF<=FDDL9?=AF .A==JRa@D=FNGF>9DK;@=F1=JKHJ=;@MF?=F 1=JK;@MD<MF?MF< /aMK;@MF? 5O9F? "=O9DLMF<MK:=MLMF? NGF)dLA?MF? =<JG@MF?MF<.CD9

N=J=A 9KKAF<<A=(=;@9FAKE=F <A=!J9M=F@9F<=D<=>AFA=J=F  M>JeLL=DF< MF< :=O=?=F< O9J=F 9M;@ <A= R9@DJ=A;@=F GCME=FL9J>ADE=  <A= =AF R=AL?=K;@A;@LDA;@=K /@=E9 AF <=F (ALL=DHMFCL KL=DDL=F -;7@@3E >AEF 63G9:F7DENGF(AJB9E0F?=JK=LRL=KA;@EAL<=J"=K;@A;@L=NGF!J9M=F9MK=A

F9F<=J <A=AF<=F =J%9@J=F9MK2A=FN=JLJA=:=FOMJ<=F  DAK9:=L@.;@9

J9F?KGCME=FL9LAGF$7;@7>;747)7BG4>;=:=?D=AL=L=<9K). *H>=J!JA=<JA;@ 59OJ=D <=JK=AF= JAFF=JMF?=F9F<A= ML@9F9KA=9FKL9DLX?*B;797>9DG@6S >eJ<A=&9E=J9>=KL@A=DL  


4'+5)'-4D06'4'*49'46 -:&-4<-:.74/ 1-I4;+0-:

=JNGE-=?AKK=MJMF<J=@:M;@9MLGJ.L=>9F-MRGOALRCQAFKR=FA=JL=!ADE:9

KA=JL9M>=AF=EJ=9D=F"=K;@=@=FMF<@9F<=DLNGE?JdZL=F"=D<>aDK;@MF?K

HJG?J9EE <=J )9LAGF9DKGRA9DAKL=F Oa@J=F< <=K 5O=AL=F 2=DLCJA=?=K  <=J X=F;A@7D@:3D6S DKAF<=FD=LRL=F&JA=?KB9@J=F<A='9?=RMF=@E=F<9MK

KA;@LKDGKOMJ<= :=K;@DGKK<A=!e@JMF?<=K7GFE5:7@)7;5:E CMJR=J@9F<<A= 9FCFGL=F <=J OA;@LA?KL=F &JA=?K?=?F=J K=D:KL @=JRMKL=DD=F  &5 #a>LDAF?= EAL !aDK;@=J &FGO @GO OMJ<=F AF <9K &GFR=FLJ9LAGFKD9?=J .9;@K=F@9MK=F ?=:J9;@L ME<GJL<=F+D9F<=J)9RAKMERMK=LR=F A="JMHH=ME.9EM=D.G

JGOALK;@&9JD(9JCGNA;KOMJ<=RMEKLJ=F??=@=AE=F!aDK;@=JCGEE9F<G A=:=O=?=F<="=K;@A;@L= <A=9M><=F JAFF=JMF?=FNGF<GD>MJ?=J:=JM@L  =J@A=DL

<=F&E53D>eJ<=F:=KL=FFA;@L =F?DAK;@KHJ9;@A?=F!ADEMF<AKL KGEAL<A=:AKD9F?=AFRA?=dKL=JJ=A;@AK;@=+JG<MCLAGF <A=<A=K=MKR=A;@FMF? =J@A=DL =J!ADEEAL=AF=EM<?=LNGFNA=J(AG  MJGOMJ<=NGE*-!AE-9@

E=F<=K;>? 7D@E7:34=A??7@EEAL>AF9FRA=JL

587:<@87:<

KAKLC9DLMF<?J9M 2AFL=JR=AL A=(=FK;@=F>JA=J=F 9KAKLKGAF^KL=JJ=A;@  9KAKLKGAF<=J0CJ9AF= 5O=AN=JK;@A=<=F=2=DL=F <A==AF9F<=JAEE=JE=@J RMa@F=DF:=?AFF=F $F<A=K=JLEGKH@aJ=KHA=D=FRO=A"=K;@A;@L=F <A=9M><=F =JKL=FDA;CFA;@LKEAL=AF9F<=JRMLMF@9:=F A==AF=AKL=AF=$EHGJL "=K;@A;@L=  .A=:=?AFFLAF<=J0CJ9AF=MF<>e@JLF9;@^KL=JJ=A;@V=AF=!J9M9M><=E2=?AF <=F2=KL=F A=9F<=J=AKL=AF= PHGJL "=K;@A;@L= KA=:=?AFFLAF^KL=JJ=A;@MF< =F<=LAF<=J0CJ9AF=V=AF(9FF9M><=E2=?AF<=F*KL=F .=AL K=AF=J AFL=JF9LAGF9D=F +J=EA=J= AE 2=LL:=O=J: <=J  ;>?87EFEB;7>7 HA@ 3@@7EOMJ<=0DJA;@.=A<DKRO=AL=J.HA=D>ADEAF 'aF<=JN=JC9M>L =J!ADE@9L <J=A+J=AK=#9MHLHJ=AK:=AE F:.AD>6;>?7EF;H3>A83@9=A= A>67@BD;5AFAF 07D7I3@ D?7@;7@MF<<=FK=J:AK;@=F'3>;+AI7D:=CGEE=F X,>D;5: *7;6> D;5:F7F E7;@7 "3?7D3 3G8 63E I3E ?3@ @;5:F G@476;@9F E7:7@ I;>>347DEALI;@97@663EE?3@@;5:FI79E5:3G7@=3@@  ?BADFJBADF2;EF 7;@;>?67D7;@76A@@7D@67*F;>>7:;@F7D>;7V S +>4+3-9./7?=3/)/3>

8>/<8+>398+6/<<0961,/37I/A(9<5/=>3@+6E

=AEJ=FGEEA=JL=F%7I0AD=7EF;H3>OMJ<=F

<J=A*-! AFJ=A;@MF?=F9MK?=R=A;@F=L A=+JG<MCLAGF 3E;E4D;5:F9MK<=J*-! (QKL=JQ !ADE -=A@= J OMJ<=AF<=J&9L=?GJA=+- $AH;7 D3?3*B75;3>EAL<=J "GD<E=<9ADD=MF<RMKaLRDA;@EAL<=ED3@6I3D69DKX7EF@F7DF3;@;@9'DA9D3?S9MK?=R=A;@F=L A=,@; H7DEG? GCM.;>6;EF67D.7EF7D@:=C9EAF<=J&9L=?GJA=A=G?7@F3F;A@"GD< A=K;@Ja?=*-! .=JA="G B7FL=K <A=AE-9@E=F<=JA@@7DEF39%35:F9M><=E+JG?J9EENGF*-!KL9F< OMJ<=AF)=O4GJCEAL=AF=J JGFR=E=<9ADD=AF<=J&9L=?GJA=0AG@96G>F*B75;3>:=DG@FL

#%78:7,=3<176-6)4;@87:<):<13-4 "1<B*K0-4

A=.GF<=J=JEALLD=J$FF=FAF<=J/AJGD=JDH=F MF</GMJAKEMKJ=?AGFKAF<FA;@L FMJKH9FF=F<=0FL=J@9DLMF?>eJ<9KdKL=JJ=A;@AK;@=+M:DACME KGF<=JF9M;@ =AFAFL=JF9LAGF9D=J PHGJLK;@D9?=J A=+JG<MCLAGF<=K*-!AF5MK9EE=F9J:=AL EAL<=E5!CGFFL=<MJ;@&GGH=J9LAGFEAL1 @F7DBD;E7:=J=ALKAFE=@J=J= FA;@L <=MLK;@KHJ9;@A?= 'aF<=J  OA= R    !AFFD9F<  N=JC9M>L O=J<=F  M;@ AF =MLK;@D9F<=J>J=MLKA;@<A=dKL=JJ=A;@AK;@=*&"&?JdZL=J=DA=:L@=AL (AL=AF "JMF< O9JME

:=J=ALK<A=KA=:=FL=.L9>>=D?=R=A?LO=J<=FCGFFL=

"76)=

A= <JALL= .L9>>=D <=J &JAEA .=JA= =J>M@J =AF=F 9M>O=F<A?=F -=D9MF;@  =J J>GD? ?9: <=E dKL=JJ=A;@AK;@=F FLOA;CD=JL=9E -=;@L  A= +JG<MCLAGF NGF *3F7> ;>? *-!MF<5!@9LFMF=AF<=MLA?=J=dKL=JJ=A;@AK;@==Re?= 


=A<A=K=JGHMD=FL=F/1 $FKR=FA=JMF? <A=?9FRAF<=J/J9<ALAGF?JGZ=J!=JF

K=@ N=FLKKL9F< O9J^KL=JJ=A;@FA;@L:DGZ<A=e@F=<=K"=K;@=@=FK =A <=J&GHJG<MCLAGFNGF$) ;>? *-!MF<.9L KL9EELKGOG@D<9KJ=@:M;@  N9.HJ=AR@G>=J 9DK9M;@<A=-=?A=F<J=9K+JG;@9KC99MK<=E=A?=F=F '9F< M;@O=K=FLDA;@=-GDD=FO9J=FEALdKL=JJ=A;@AK;@=F.;@9MKHA=D=J$FF=F :=K=LRL!JALR&9JD !JA=<JA;@NGF/@MF

-::B<>75&J:<0-:;--

A=+JaK=FL9LAGF<=JdKL=JJ=A;@AK;@=F/GMJAKEMK?=:A=L=AF=J>GD?J=A;@=F/1

+JG<MCLAGF=FAKL=AFOA;@LA?=KFDA=?=F<=K*-! 

CGFFL=<=JF=M=!=JF

K=@>ADE<=J:=DA=:L=F-=A@=7DDLFHA?.^DF:7DE77EAL<=E/AL=D*5:3FF7@;? '3D36;7E=JKLE9DK9MK?=KLJ9@DLO=J<=F A=-=A@=HJaK=FLA=JL<A=-=?AGFME <=F2dJL@=JK==RM9DD=F%9@J=KR=AL=FMF<R=A?LKGEAL<A=NA=D>aDLA?=F/GMJAK

EMK9F?=:GL=<=K'9F<=K A=5MK9EE=F9J:=ALEAL<=J-?9J9FLA=JL@G@= 5MK=@=JR9@D=FAF=MLK;@D9F<MF<e:=J.9L=DDAL

744A78;

B  = '465%*D2(70)

(7,1)3D-:7:7;378J:,-:

+JG<MR=FL MF< J=@:M;@9MLGJ +=L=J #9B=C "A??;EE3D )7J CJ=A=JL= AF 5M

K9EE=F9J:=ALEAL*-!MF<5!KGOA=EAL0FL=JKLeLRMF?<=K'9F<=K.9DR:MJ? =AF=F=M=.=JA= :=A<=J<A=+JG:D=E9LAC<=K.;@dF@=ALKO9@FKMFL=J@9DLK9E 9M>?=9J:=AL=LOAJ< A=.=JA=OMJ<=9F<=F*JA?AF9DK;@9MHDaLR=FAF.9DR:MJ? J=9DAKA=JL MF< KG CGFFL= 9M;@ :=A <A=K=J +JG<MCLAGF =AF ?JGZ=J /=AD <=J (AL

OAJC=F<=F9MK<=J@=AEAK;@=F!ADEOAJLK;@9>L@=J9F?=RG?=FO=J<=F 2A=<=J =J?9:=FKA;@<MJ;@<A=5MK9EE=F9J:=ALEAL=AF=E?JGZ=F<=MLK;@=F!=JF

K=@K=F<=J <A=KE9D<=E5! OeFK;@=FKO=JL=.QF=J?A=FOA=<A=O=AL=J=1=J

:J=ALMF?AE<=MLK;@KHJ9;@A?=F-9ME

1-)=-:68:16B-;;16

OMJ<=;73G7D@BD;@L7EE;@9MK<=J-=A@=<=JKG?=F9FFL=FX>B7@ 6D3?7@S =AF=JD9F?>JAKLA?9F?=D=?L=F&GGH=J9LAGFNGF*-!MF<9Q=JAK;@=E -MF<>MFC 9MK?=KLJ9@DL A=+JG<MCLAGFNGF*-! -MF<*" ;>?G@67D@E7: BDA6G=F;A@OMJ<=NGF M?MKL

:AK .=HL=E:=J

AE.9DR:MJ?=J '9F<?=<J=@L A=-GDD=F<=J+AFR?9M=J=J?:9M=JFOMJ<=F?JGZL=ADKNGF@=A

EAK;@=F.;@9MKHA=D=JF<9J?=KL=DDL

1--;+0?7:-6-

;7 7E5:IAD7@7 AKL =AF dKL=JJ=A;@AK;@=J !=JFK=@>ADE  <=J AF 5MK9EE=F9J

:=AL EAL *-!  >>79DA ;>? MF< )- EAL !dJ<=JMF? <=K ;>?8A@6E .;7@ MF< <=K 7D@E7:8A@6E GEFD;3 )+) =FLKL9F<  =F !ADE R=A;@F=L FA;@L FMJ K=AF= @G@= ,M9DALaL  KGF<=JF 9M;@ K=AF= =AKHA=D>MFCLAGF >eJ <A= 2=JLK;@dH>MF? AF <=J dKL=JJ=A;@AK;@=F !ADEOAJLK;@9>L 9MK  A= :=E=JC=FKO=JL= MF< RM

CMF>LKO=AK=F<= !AF9FRA=JMF?K>GJE OMJ<= NGF <=F +9JLF=JF =A?=FK >eJ <A=

K= +JG<MCLAGF =FLOA;C=DL  =J !ADE AKL FA;@L :DGZ KH9FF=F<= 0FL=J@9DLMF?  KGF<=JF9M;@=AF=>=KK=DF<=+9J9H@J9K=9M><=F@AKLGJAK;@=F!9DD+;4ADA5A

-14-&-4<

%GDDQ  DDA=MF<DGRLJ9?=F.C9L=J "=O9F<MF<ME?=<J=@L=9K=:9DD &9HH=F  .A=CD9M=F2G<C9>D9K;@=FAE.MH=JE9JCLMF<:=K9M>=FKA;@9MK'9F?=O=AD=  2ADDCGEE=FAE'=:=F<J=A=J"J9R=J$FL=JF9L &A<K5OAK;@=F??J=KKAGF=FMF< #AD>DGKA?C=AL (MLHJG:=FMF<(9;@G .HJe;@=FK=@F=FKA=KA;@AE"JMF<=F9;@ )GJE9DALaL <A=A@F=F9:=JNGF<=JC9DL=F JO9;@K=F=FO=DLN=JO=@JL:D=A:L =J =JKL  Ba@JA?=-=?AKK=MJ%9CG:(  JO9DA=>=JLEALK=AF=EK=EA <GCME=FL9JA

K;@=E.HA=D>ADE =:eL7;>7.7>F=AF=E=@J9DK9;@L:9J=/9D=FLHJG:=9:




#5#&+1;/2*10+'14%*'56'4 +'0

G*< !2<=.27@2,1=20.<7<=;>6.7=/P;-2. ;6O052,1>70>7-$.;+;.2=>707*=287*5.7 >5=>;0>=<D

&!"1//"++". :)//&(."##-1+(0

=JL=ADL="=J<9;@=JAE-9@E=F<=J-MF<>MFCJ=

>GJE<=FM>LJ9? =AF&) *K?B:A@;7AD5:7EF7DF9;@ <=MLK;@=E1GJ:AD<RM?JeF<=F 1GDD=J)=A<@9LL=F:AK <9@AFdKL=JJ=A;@AK;@=(MKAC=J$FF=F:=A<=F<=ML

K;@=F&GDD=?$FF=F:=G:9;@L=L OA=<A=M>>e@JMF?=F F=M=JMF<MF:=C9FFL=J2=JC==AF=CGFLAFMA=JDA;@= FLOA;CDMF?<=J(MKACAFMFK=J=E)9;@:9JD9F< =JEd?DA;@L@9LL=F .=AL<9E9DKKL=@L<9K*J;@=KL=J <=K*-!>eJ<A=CLM9DAKA=JMF?<=JdKL=JJ=A;@AK;@=F (MKACD9F<K;@9>L @9L?9FR=F"=F=J9LAGF=FNGF&GE

HGFAKL$FF=F<9K'=:=F=JD=A;@L=JLMF<<9KCJ=9LAN= +GL=FRA9DMFK=J=K'9F<=K?=>dJ<=JL  AF.HALR=FGJ

;@=KL=J <9KG@F=5O9F?RMJ,MGL=G<=JRMJMKD9K

LMF?<=J1=J:J=ALMF?NGFXF=M=ES-=H=JLGAJ=<A=FL  =J>eDDL<9EAL=AF=FM>LJ9? <=F@=JCdEEDA;@= *J;@=KL=JFA;@L=J>eDD=FCdFF=FMF<9M;@FA;@LEeK

K=F $;@@9:=AF<=FD=LRL=F%9@J=F<9K2GJLXF=MS FA;@LFMJ9DKR=AL?=FdKKAK;@ KGF<=JFAEE=J9M;@9DK X<=E+M:DACMEMF:=C9FFLSN=JKL9F<=FV=AF==>AFA

LAGFMF<<A=KA;@<9J9MK=J?=:=F<=M>?9:= <A= 9DD=F(AL9J:=AL=J$FF=F<=K*J;@=KL=JK <=F(MKAC=

J$FF=FMF<K=D:KLN=JKLaF<DA;@9M;@<=E@=><AJA?=F

L=FFDA=?=FAKL =JM>>e@JMF?NGF(MKACN=JLJA=:=

F=JMF<N=J?=KK=F=F&GEHGFAKL$FF=FCGEEL<9:=A =AF:=KGF<=J=J.L=DD=FO=JLRM  @9LL=FOAJAE$GE;=H7D7;@CGFK=IM=FLAFB=<=E &GFR=JL(MKAC=AF=K JD=:=F<=F^KL=JJ=A;@=JK AFAE +JG?J9EEMF<=AFA?=<=J:=C9FFL=KL=F!=KLAN9DK MFK=J=K'9F<=KOaJ=FG@F=<9K)*&AF<=J:=KL=@=F

<=F!GJEC9MENGJKL=DD:9J .;7@$A67D@AE&GFR=JL

@9MK <9K?GE;=BDAFA=A>>AEEF7;D;E5:7@:7D4EFKAF< <9>eJ=AKHA=D=



A=&GFR=JL=<=K*-! *J;@=KL=JKAE.;7@7D$GE;=H7D 7;@MF<AE.;7@7D"A@L7DF:3GEKAF<&GHJG<MCLAGF=F <=K*-!EAL<=F1=J9FKL9DL=JF 1A=D=KOAJ<<MJ;@ <A=K=5MK9EE=FD=?MF?NGF(ALL=DF=JKLEd?DA;@ =J *-!AKL<9EAL9M;@=AF=J<=J:=<=ML=F<KL=F(MKAC

EaR=F=<=K'9F<=K MJ;@<A=5MK9EE=F9J:=AL<=J (MKACJ=<9CLAGFNGF^EAL<=E*J;@=KL=J <A=A;@AF <=FD=LRL=F%9@J=FAFL=FKANA=J=FCGFFL= D=AKL=L<9K *J;@=KL=JFA;@LFMJ=AF=FO=K=FLDA;@=F=ALJ9?RME +JG?J9EE KGF<=JF<MJ;@=J?aFR=F<=.=F<MF?=FAKL <9K+M:DACME<=K.=F<=JK)MLRFA=Z=J=AF=KKL9JC=F .QF=J?A= >>=CL=K A= JEd?DA;@MF?NGF&GEHGKALA

GFK9M>LJa?=F>eJ?JGZ=K*J;@=KL=JAKL=AFO=AL=J=J KH=CL<A=K=J.QF=J?A= $E-MF<>MFC?=K=LRAKLNGFX-7D?;FF>G@9G@6^D67DG@9 HA@"G@EFS<A=-=<= =K@9D:AKL9M;@>eJ<9K*J;@=K

L=J<=K*-!<A=1=JEALLDMF?:=KGF<=JKOA;@LA? .=F<=

J=A@=FOA=<A=">3EE;E5:7-7D8_:DG@9AF5MK9EE=F9J

:=ALEAL<=E*F36FE5:G>D3FE9;@=F<9K<=MLDA;@  A=M>>e@JMF?MF<.=F<MF?dKL=JJ=A;@AK;@=J&GE

HGFAKL$FF=FAKL9:=JFA;@LFMJAE=A?=F=F'9F<NGF =<=MLMF? A=1=J:J=ALMF?<=J&GFR=JL9M>F9@E=F <=K)*&AF?9FR MJGH9E9;@L<A=(MKACdKL=JJ=A;@A

K;@=J&GEHGFAKL$FF=F9M;@AFL=JF9LAGF9D:=C9FFL   >e@JL=F-=AK=F<9K*J;@=KL=JFA;@LFMJAFMFK=J= )9;@:9JDaF<=J KGF<=JF9M;@F9;@%9H9F ^=J@aDLK=AF=F9LAGF9D=$<=FLALaLM 9 <MJ;@<A=MK

KLJ9@DMF?<=J2=JC=dKL=JJ=A;@AK;@=JR=AL?=FdKKA

K;@=J&GEHGFAKL$FF=F =FFB=<=K'9F<HJG<MRA=JL (MKAC<=J=A?=F=F&J=9LAN=FVdKL=JJ=A;@AK;@=(MKAC >eJ?JGZ=K*J;@=KL=JC9FFE9FAEMKD9F<C9MEC9M

>=F 9K)*&AKL9DKG=AFOA;@LA?=K$FKLJME=FL>eJ<A= JEd?DA;@MF?MF<1=J:J=ALMF?F9LAGF9D=F&MDLMJ?MLK 

&!"1//"++".


!!),17"A580761-7:+0-;<-:&1-6

9K)36;A *K?B:A@;7AD5:7EF7D.;7@)*&AKL=AF=K<=JNA=DK=ALA?KL=F*J;@=K

L=JAF^KL=JJ=A;@ 9K-=H=JLGAJ=<=K*J;@=KL=JKMFL=J@=><AJA?=FL=JLJ9F< <=ADDQ=JO=AL=JLKA;@KMCR=KKAN= AE(ALL=DHMFCLKL=@=F9:=J<9K0F:=C9FF

L= <9KK=DL=F"=KHA=DL=MF<<9K_:=JJ9K;@=F<= )=:=F=A?=F=F&GFR=JLJ=A

@=FAE(MKACN=J=AFMF<AE2A=F=J&GFR=JL@9MKLJALL<9K*J;@=KL=JJ=?=DEaZA? :=A<=F?JGZ=F!=KLAN9DKAE$F MF<MKD9F<9M>  AF=:=KGF<=JK=F?==RA=

@MF?:=KL=@LRM<=F*3>L4GD97D7EFEB;7>7@ $F<=FD=LRL=F%9@J=F@9LKA;@<9K *J;@=KL=JAE/@=9L=J9F<=J2A=F9M;@9DK*H=JFGJ;@=KL=J=L9:DA=JL O9KRM =AF=J=F?=F5MK9EE=F9J:=AL>e@JL= A=M>F9@E=LaLA?C=AL<=K)*&.;7@>eJ <=F*-!MF<>eJ +JG<MCLAGF=F@9LRM=AF=JME>9F?J=A;@=FAKCG?J9H@A= ?=>e@JLVEAL2=JC=F9DD=J"=FJ=KMF<NA=D=F JKL=AFKHA=DMF?=F

=/-6,):*-1<,-;!"

+@ADGKGH@A=<=K)*&.;7@AKL=K9M;@ <=EEMKAC9DAK;@=F)9;@OM;@K?JdZL= M>E=JCK9EC=ALRMK;@=FC=F =AKHA=D=>eJ<A=K=?=JF=O9@J?=FGEE=F=M>

?9:=KAF<F=:=F<=J&D5:7EF7D3=367?;7<A=:K;@DMKKCGFR=JL=<=JAJA?=F

L=FCD9KK=F <=J 0FAN=JKALaL  <=J 77F:AH7@ ">3H;7DI7FF47I7D4  +JGB=CL= EAL !7G@7EE7 +JG:=F>eJ&AF<=JMF<<A=-=A@=">3EE;E5:7-7D8_:DG@9 =A<A=K=F 7EBD[5:E=A@L7DF7@ AE )36;A"G>FGD:3GE O=J<=F &AF<=JF MF< %M?=F<DA;@=F JA;@LMF?KO=AK=F<=2=JC=<=J(MKAC?=K;@A;@L=Fa@=J?=:J9;@L (AL<=JMK

KLJ9@DMF?<A=K=J-=A@=MF<&GFR=JLe:=JLJ9?MF?=FDA=>=JL<9K*-! *J;@=KL=J 9M;@=AF=FO=K=FLDA;@=F=ALJ9?RME+JG?J9EENGF^

B  = '465%*D2(70)    ='4#06914670)

'4-'70& '46'

?=D/3-28?810S</38"R<=:3/6 =JJ=FGEEA=JL='D;JGDAB3OMJ<=9M;@

OA=<=JAF=JDAFN=JDA=@=F A=MKR=A;@FMF?AF<=J&9L=?GJA= ^DEB;7>?AF?9F<=FdKL=JJ=A;@AK;@=FMLGJ :=J@9J<+=LK;@AFC9MF<K=AF#dJKHA=D*3@FA*G4;FA =AF=&GHJG

<MCLAGFNGF*-!MF<(- ^K=F<=L=<9KHJaEA=JL=.Le;C9EA=FKL9? <=E *CLG:=JAE^DEB;7> *FG6;A  A=.9LAJ=@9F<=DLNGF<=FD=LRL=F'=:=FKL9?=FNGF+9HKL%G@9FF=K+9MD$$ MF<<=F=KLJ=:MF?=F A@FKG J9K;@OA=Ed?DA;@@=ADA?RMKHJ=;@=F

 "7=6,8):3

=J$ *AG@6B3D=AKL<A=dKL=JJ=A;@AK;@=(MKACHD9LL>GJE 9M><=J(MKAC=J$FF=F A@J=(=AKL=JO=JC=N=Jd>>=FLDA;@=F 2=ALe:=J

&eFKLD=J$FF=FLMEE=DFKA;@ EALLD=JO=AD=K;@GFAF<=J<A?AL9D=F(MKAC GEEMFALQ8? &) 3F EAG@6B3D= 'G

;9D.L9JKLJ=>>=F9M>)=O;GE=J9MK^KL=JJ=A;@MF<MEDA=?=F<=F)9;@:9JDaF<=JF  /a?DA;@O=J<=FNA=D=F=M=/J9;CKMF<.GF?KAF<=F.GMF<H9JC@G;@?=D9<=F <A= 9M;@D9M>=F<9M><=J.L9JLK=AL=NGJ?=KL=DDLO=J<=F =J$ *AG@6B3D= 'A653EF HJaK=FLA=JLLa?DA;@<A=>JAK;@=KL=FNA=J)MEE=JFVX:A?79DAI@?GE;5S9MKF9

LeJDA;@=EF:9M )A;@LK=DL=F>e@JL<9KRMN=JE=@JL=F AFKaLR=FAE-9<AGMF< O=JO=AZ OG@AF<A=-=AK=<9FFFG;@?=@=FE9?




=.<:)/   

 

 

 

  

)9;@JA;@L=FMF<#AFL=J?JeF<= 9MK<=FMF<=KDaF<=JF MF<-=?AGF=F

   

&GEEMFAC9LAGFKIM9DALaL>eJ9DD=   <A=AF^KL=JJ=A;@D=:=F  )=MF'9F<=KKLM<AGK9DK/=AD =AF=JD=:=F<A?=FdKL=JJ=A;@AK;@=F (=<A=FCMDLMJ

-1;<=6/ 

   

   

   

   

-0:?-:< G!"$"  )3<=-44=6,6)+00)4<1/

G>5=>;2<=.27.C>=2./<=;.0287*5?.;@>;C.5=.;<,1.27>70 -2.72,1=.27/*,1?87*7-C>*7-?.;<,12.++*;2<=D 8<./,41*;-= G%2..;/P55=-.;O//.7=52,1;.,1=52,1. >7- />74<.27.7>5=>;*>/=;*0D




=J*-!AKLF=MFE9D^KL=JJ=A;@ 1GE"=K=LRN=JH>DA;@

L=L EAL<=J=NdDC=JMF?<MJ;@La?DA;@=+JG?J9EEHJG

<MCLAGFN=J:MF<=F .=AF=.LaJC=AKL<=J&GFL9CLRME +M:DACME <=J^>>=FLDA;@C=AL <=F(=FK;@=FAF<=F-=?A

GF=F !d<=J9DAKEMKAKL>eJ<=F*-!C=AFL@=GJ=LAK;@=J FKHJM;@ KGF<=JF&GEEMFAC9LAGFKIM9DALaL <A=KA;@=J

KL=DDL^KL=JJ=A;@Ra@DLFA;@LFMJ9DK5MK9EE=F>9KKMF?  KGF<=JF9DKJ=?AGF9D=1A=D>9DL

:)3<1;+0-:=<B-6 

^KL=JJ=A;@AF9DD=F!9;=LL=F 




#56'+4+5%*'#05+%*$'.'$'0

G<2<=>7<.270;8J.<752.0.71.;*><C>/27-.7 @2.-2..7<,1.727>7<.;.6*7-.69/27-.7 >7--.;.7>;.20.7<=.%P7<,1..-P;/72<<.>7- ./P15./P15+*;>7-.;5.++*;C>6*,1.7D

".%.! .4)". +!"/!&."(0,. 0"&".*.(

RM?=@=F (AL<=J&)*F7;7D?3D=">3@9IA>=7AKL=K MFK?=DMF?=F =AF=F=AF>9;@=F5M?9F?RM=AF=E&MD

LMJ=JD=:FAK9M>9DD=J@d;@KL=E)AN=9MRMK;@9>>=FMF< =AF?JGZ9JLA?=K&GFR=JL=J=A?FAK9DD?=E=AFN=J>e?:9J MF<=JD=::9JRME9;@=F 9K#G;@CMDLMJ=J=A?FAK 3D@A@5AGDF6;D;9;7DF77F:AH7@AE%MFA @9L<A= ?9FR=.L=A=JE9JCAF#G;@KLAEEMF?N=JK=LRL )36;A 'G4>;5-3>G7RMCJ=A=J=F 9DKG?=K=DDK;@9>LDA;@=F *F7;7D?3D=e:=JLJM?<A=K=K&GFR=JLDAN=MF<DA=>=JL= (=@JO=JLRMK;@9>>=F AKL/=AD<=K.=D:KLN=JKLaF<FAK

K=K<=K&)*F7;7D?3D= =J&)*F7;7D?3D=AKLKGEAL KGEAL<=F/GF>eJ<A==AFRA?9JLA?=&)*F7;7D?3D= ">3@9IA>=7AF=AF=J?JGZ9F?=D=?L=F?=E=AFK9E=F E=@J9DKXFMJ(=<AMESAF/1 -9<AGMF<$FL=JF=L  J $FALA9LAN=OMJ<=<A=?=K9EL=.L=A=JE9JCV.La<L=  AKL=AF=?=K=DDK;@9>LDA;@=&J9>LMF<+D9LL>GJE 9M><=J "=E=AF<=F /GMJAKEMKN=J:aF<= 0FL=JF=@E=F  NA=D>aDLA?='G4>;5-3>G7 +JGB=CL=ME?=K=LRLO=J<=F d>>=FLDA;@=MF<HJAN9L=$FKLALMLAGF=FV<9RM=AF?=D9

MF<<A=>eJ<A=(=FK;@=F<A=K=K'9F<=K=OMKKL

<=F KA;@9F<A=K=E&GFR=JL=J=A?FAKRM:=L=ADA?=F K=AF O=JLNGDD=*JA=FLA=JMF?MF< EGLAGF?A:L  MF<<A=&)*F7;7D?3D=">3@9IA>=7EALRMLJ9?=FMF< $E+JG?J9EEK;@O=JHMFCL7;?3FEA??7DOa@J=F< EALRM?=KL9DL=F A=K=$<===FL>9;@L==AF=MF?D9M:DA

<=J.GEE=JEGF9L= OA<E=L=KA;@<=J&)*F7; 7D?3D=<=F'=A<=FK;@9>L=F =KGF<=J@=AL=FMF<<=E ;@==?=AKL=JMF?(AL=FGJE=E&J=9LANHGL=FRA9D  #=AE9L?=>e@DAF<=J.L=A=JE9JC $F/1 -9<AG $FL=JF=L  KHGFL9F=J=?=AKL=JMF?MF<?JGZ=EH=JKdFDA;@=E AFK9LR<=JR9@DJ=A;@=F.L=AJ=J$FF=F <A=9F<A=K=E +JAFLMF<1=J9FKL9DLMF?=FOMJ<=F<A=:=KGF<=J=F &GFR=JLHJGB=CLEALOAJCL=F =J@G:KA;@AE%MFA  J=A?FAKK= +JGB=CL=MF<+@aFGE=F=9M>=AF=J+JG

?J9EEHD9LL>GJEN=J=AFLMF<B=F=(GE=FL=MF< J=A? =AF=e:=JJ9?=F<=">3@9IA>=7AF<=J?=K9EL=F.L=A=J

FAKK=>GCMKKA=JL <A=<9KX9@=AE "=>e@DSAF<=J.L=A E9JC ==L@GN=FK(MKAC=JCD9F?9E9;@KL=AF?D=L

K;@=JOA=9EDL9MKK==J.===:=FKGOA=AE/@=JE=F

=JE9JCHJa?=F A=K=+JG?J9EEAFALA9LAN=:=D=M;@L=

D9F<MF<AF<=FKe<KL=AJAK;@=F2=AF:=J?=F  AF=NdD

L= :=D=:L=MF<:=JA;@L=L=X<9K.L=AJAK;@=9FKA;@S DA?F=M=1=J:J=ALMF?K<AE=FKAGF>eJ&GFR=JL ^>>=FL

MF<E9;@L=@dJ:9J KA;@L:9JMF<>e@D:9J O9K<A= DA;@C=ALOMJ<==L9:DA=JL  >9F<<A=K=K+JGB=CL (=FK;@=FAF<=J.L=A=JE9JC:=O=?L  AF=1A=DR9@D =AF=F9;@@9DLA?=!GJLK=LRMF? NGF-9<AG MF</1 -=HGJL9?=F9MK<=J?9FR=F.L=A=J

A=$FALA9LAN=F CLAGF=F 1=J9FKL9DLMF?=FMF<&9E

E9JC <A=+JaK=FR:=AR9@DJ=A;@=FKL=AJAK;@=F1=J9F

KL9DLMF?=FKGOA=<A=:=DA=:L=F7;?3FEA??7DFAGD7@ H9?F=F <A=<=J&)*F7;7D?3D=RM'G4>;5-3>G7

.;@O=JHMFCL=FE9;@L KAF<R9@DJ=A;@MF<@9:=F<9K <MJ;@MFK=J'9F<J=>D=CLA=JL=FNA=D>9;@<9KLa?DA;@= 5A=D <A="=K=DDK;@9>L AF<=JMFK=J=(=<A=FOAJC=F  'AN= F?9?=E=FLMFK=J=K?=K9EL=F/=9EKMF< RM:=D=:=F RM:=J=A;@=JFMF<RM:=O=?=F A=+JG

=JR=M?L=FKGEAL?JGZ=-=KGF9FR:=AE$FL=JF=L  ?J9EEAFALA9LAN=7;?3FEA??7DMF<<A=&)*F7;7D -9<AG MF<!=JFK=@HM:DACME $E.GEE=J  OMJ<=<A=K==J>GD?J=A;@=$FALA9LAN=AFF=M=EX=KA?FS ?3D=">3@9IA>=7KAF<FMJRO=A=AKHA=D=>eJF9;@@9D

LA?=HM:DACMEKGJA=FLA=JL=CLANALaL=F <A=MFK=J=J=?A

OA=<=J.;@O=JHMFCL<=K+JG?J9EEK  GF9D=F=KGF<=J@=AL=FAF=AF=J?DG:9D=FMF<<A?AL9DA

KAKLMFK9M;@=AF?9FR:=KGF<=J=K=<eJ>FAK @=J9MK

J9?=F<=&MDLMJ=J=A?FAKK=<=J.L=A=JE9JCAF<=Fd>>=FLDA KA=JL=F2=DL@=J9MK@=:=F   ;@=F-9MERM:JAF?=FMF<@A=JF=M= AFFGN9LAN=2=?=

".%.! .4)".




G2=-2.<.;;.0287*5.7869.=.7C?.;62==.57-2. *7-.<<=>-28<-2.N1.C>6 /5N,1.7-.,4.7- 270*7CK<=.;;.2,1!2.6*,1.7-.>=52,1-*<<-.;  +.2-.7.7<,1.72<=D

")*10".*5. +!"/!&."(0,. ".</0".."& %

OA=<A=*A??7DFAGDHA@)36;A&47D^EF7DD7;5:AF9DD= =RAJC=>e@JL =J)36;A&47D^EF7DD7;5: *F3??F;E5: EALK=AF=FAKCMKKAGF=FRM9CLM=DD=F/@=E=FAKL"9KL AF2AJLK@aMK=JF9DD=J-=?AGF=F  (AL<A=K=JJ=?AGF9D=F&GEH=L=FRN=JEALL=DF<A=#3@ 67EEFG6;AE<A=)a@=RME*-!>Da;@=F<=;C=F<AF?9FR ^KL=JJ=A;@AK;@=$<=FLALaL:=OMKKLRME9;@=FAKL=AF= ^KL=JJ=A;@ .A=E9;@=F<=MLDA;@ <9KK<=J*-!:=A <=F(=FK;@=FAKL A=DGC9D=+JaK=FR?9J9FLA=JL9M;@  <=JO=K=FLDA;@=FM>?9:=FAE&) 7E7FL A=K= <9KK<A=2eFK;@=MFK=J=K+M:DACMEK<=F<AJ=CL=F dKL=JJ=A;@AK;@=$<=FLALaLAKL?=HJa?LNGF<=J1A=D>9DL MF<<=F0FL=JK;@A=<=F<=J-=?AGF=FMF<'aF<=J .A= 2=?RM<=F+JG?J9EEN=J9FLOGJLDA;@=F>AF<=F AKLFA;@LK AF@=ALDA;@=K KGF<=JF=AF:MFL=KAD< 9K =KGF<=JKOA;@LA?AKL<9K#3@67EEFG6;A>eJ<A=J=?AG

RMN=JEALL=DFMF<<=J1A=D>9DLAF9DD=F(=<A=FMF<+JG F9D=&MDLMJMF<<=FJ=?AGF9D=F.HGJL 9K#3@67EEFG 6;AAKL<A=X'9F<=K:e@F=S>eJNA=D=&eFKLD=J$FF=F ?J9EE=F?=J=;@LRMO=J<=FAKL<A=M>?9:=<=J &) #3@67EEFG6;AE <A==AF=JK=ALK>eJA@JMF<=KD9F< 9DD=J.H9JL=F <A=<9EAL=AF=F2=?RM=AF=E:J=AL=F +M:DACME>AF<=F "D=A;@=K?ADL>eJ<=FDGC9D=F.HGJL  =AF:J=AL=KE=<A9D=KF?=:GLHJG<MRA=J=F 9F<=J=J

.;@DA=ZDA;@?9J9FLA=J=F<A=#3@67EEFG6;AE9M;@<A= K=ALK9:=J9M;@<9>eJKGJ?=F <9KK<9KMF<=KD9F< E=<A9D=+JaK=FRMF<<9EALG>L?=FM?9M;@<9K_:=J

?=K9ELdKL=JJ=A;@AK;@MF<AFL=JF9LAGF9DHJaK=FLAKL .;@GF*:=JdKL=JJ=A;@9DD=AFO=AKLAFKA;@:=9;@LDA;@= D=:=F<=JJ=?AGF9D=F1GDCKCMDLMJ AFK:=KGF<=J=9M;@ <=J=;@L=F1GDCKEMKAC <=J=F=<=MLMF?NGE:J=AL=F 0FL=JK;@A=<=ROAK;@=F<=F=AFR=DF=F-=?AGF=F9M>  9K?ADL>eJ<A=OAJLK;@9>LDA;@=.LJMCLMJ=:=FKGOA=>eJ +M:DACME@aM>A?O=K=FLDA;@@d@=J=AF?=K;@aLRLOAJ< 9DKNGF(=AFMF?KE9;@=JFMF<(=AFMF?KLJa?=JF <9K!J=AR=AL9F?=:GL >eJ<A=1A=D>9DL<=J1GDCKCMDLMJ  E9DHJG%9@JDa<L<=J&)&47D^EF7DD7;5:RME+D788 =:=FKGOA=>eJ<A=(=FL9DALaL >eJ<A='9F<K;@9>L=F BG@=F"G>FGDEAL<=F.H9JL=F'AL=J9LMJ )=M=(MKAC  =:=FKGOA=<A=@AKLGJAK;@= FLOA;CDMF?  AD<=F<=&MFKLMF<2AKK=FK;@9>L .G>AF<=FR=AL?=

$F<=J"=OA;@LMF?<=J=JA;@L=JKL9LLMF?AKL<=JJ=?AG

F9D=MK?D=A;@=AFK=@JO=K=FLDA;@=K D=E=FL <9<A= FdKKAK;@=&GEHGFAKL$FF=F<=F2=?AF<A=(MKACK=F

<MF?=FNGF^ $FALA9LAN=FOA=<A=DE>75FDA@;53 <A= JaMEDA;@=)a@=G>L=FLK;@=A<=F<<9>eJAKL O9K>eJ #;@L7D">3@9IA>=7@G<=J<A=X=G?7@;E5:7*A??7D O=K=FLDA;@MF<OA;@LA??=@9DL=FOAJ< A=&GEH=

3=367?;7KAF<NGE#3@67EEFG6;A&47D^EF7DD7;5:9MK

L=FR <A=<9K+M:DACMEMFK=J=F(=<A=FRM:ADDA?L  ?=?9F?=FMF<@9:=FDaF?KLdKL=JJ=A;@O=AL=MF< @aF?LK=@JO=K=FLDA;@NGF<=J&=FFLFAKJ=?AGF9D=J AFL=JF9LAGF9D==<=MLMF? 1GJ9DD=E<A=R=AL?=FdKKA

5MK9EE=F@aF?=MF< FLOA;CDMF?=F9: K;@=&MFKLAKLNA=D>9;@9M><A=#3@67EEFG6;AE9F?=

-=?AGF9D=1A=D>9DLEMKKAF9DD=F(=<A=F<=K#3@67E OA=K=F MEd>>=FLDA;@==9;@LMF?RM>AF<=F  EFG6;AE<=MLDA;@O=J<=F AE-9<AG=:=FKGOA=AF e@F=MF<Je;C=RMK=AF <A=J=?AGF9D=1A=D>9DLRM &47D^EF7DD7;5::7GF7MF<AFAA7 &) 3F 9KXEF7D J=HJaK=FLA=J=FV<9KAKL<=JMFN=JRA;@L:9J==ALJ9? D7;5: ;>6EMKKKA==:=FKGOA<=JKHA=?=DFOA=D>74 =AF=K#3@67EEFG6;AERMJ=OMKKLE9;@MF?  J@9DLMF? @;EXEF7DD7;5: M;@AF<=F*>> AJ CLANALaL=FAKL<=J J=?AGF9D=MK?D=A;@=KK=FRA=DD .HGJLDA;@=CLANALaL=F MF<2=AL=J=FLOA;CDMF?<=JdKL=JJ=A;@AK;@=F$<=FLALaL AFA@J=J1A=D>9DLMF<MFL@=AL  OA=<A=#=J:KLO9F<=JMF?=F#GEF3G8E.3@67D@EAL  B=O=ADKE=@J=J=FL9MK=F</=ADF=@E=J$FF=FO=J<=F ?=F9MKGAFB=<=E1A=JL=D<=K'9F<=K<MJ;@?=>e@JL  ")*10".*5.

B  ='4#06914670) =D&'4#.+5/75   

#5#0&'5567&+1#.5 E*0'70& 4E%-'




+'+'.(#.6.'$'0

G</;.>=62,1@.772,1-*74>7<.;.;;8->4=. -*<*7-266.;@2.-.;7.>4.77.75.;7.7-*;/ @.772,1.;/*1;.@*<-2..7<,1.712.;-.7 4.7@*<<2.+.@.0=@2.<2.5.+.7D

1.0**"./0,.#". +!"/!&."(0,. &.,)

/AJGDAKL>Da;@=FEaZA?C=AF?JGZ=KMF<=KD9F< A= J=?AGF9D=1A=D>9DL<=K'9F<=KAF<=F<J=A(=<A=F<=K *-!V-9<AG !=JFK=@=FMF<$FL=JF=LVRMJ=HJaK=F

LA=J=FK=LRL9:=JNGJ9MK <9KKMFK=J=-=<9CL=MJ$FF=F 9M;@<A==JA;@L=JKL9LLMF?9MK=FLD=?=F=F/aD=JFMF< NGF#G;@D9?=FH>D=?=F 1GF/AJGDKF=MF=RAJC=FDA=?L EAL*KLLAJGDRM<=E=AF=JB=FK=ALK<=K!=D:=JL9M=JF

LMFF=DK GJLMFL=J@aDL<=J&)+;DA>=AF==A?=F=*KL

LAJGD -=<9CLAGF M;@.e<LAJGDAKLO=?=FK=AF=J=EGLA

GF9D=FMF<@AKLGJAK;@=F1=J:MF<=F@=ALEAL)GJ<LAJGD =AFOA;@LA?=J/=AD<=JJ=?AGF9D=F=JA;@L=JKL9LLMF? <=K&)+;DA> =J J>GD?<=K=AFRA?9JLA?=F?J=FRe:=J

K;@J=AL=F<=F$F>GJE9LAGFKE9?9RAFK*_6F;DA>:7GF7 ?A:LMFK-=;@L O=AL=J@AFAF<A=J=<9CLAGF=DD=$F>J9

KLJMCLMJ<=J&)+;DA> -=<9CLAGFAFGR=FRMAFN=KLA=

J=F A=/AJGD=J"=G?J9>A=AKL9DKG<MJ;@9MK9DK#=J

9MK>GJ<=JMF?>eJ=AF=ME>9KK=F<= <A=J=?AGF9D=F "=?=:=F@=AL=FJ=KH=CLA=J=F<=+JG?J9EE?=KL9DLMF? RMK=@=F  !eJEA;@?ADL9K#3@67EEFG6;A+;DA>@9LAF=AF=E '9F< <9KK;@GF9DD=AFLGHG?J9>AK;@C=AF=K>eJ X.;@J=A:LAK;@S -=<9CL=MJ$FF=FAKL H=JKGF=DDMF< GJ?9FAK9LGJAK;@<9>eJRMKGJ?=F <A=K=FJ=?AGF9D=F -=A;@LME/AJGDKO=AL=J@AFE=<A9D9:RM:AD<=FMF<RM J=>D=CLA=J=F 2AJLMF<9K9M;@VEAL<=EFdLA?=FM>

O9F<MF<EAL?JGZ=E5MKHJM;@NGFMFK=J=E+M:DA

CME

A=/AJGD=J$FF=F KGE=AF= J>9@JMF? KAF<A@J=J#=A

E9LKL9JCN=J:MF<=F .A==JO9JL=FNGFMF<K;@aLR=F 9FXA@J=ES*-! <9KK=JK=D:KLAECD=AFKL=F FaEDA;@ AFA@J=E=J?<GJ> K=D:KLAEN=JKL=;CL=KL=F/9DHJa

K=FLAKL =ELJa?L<=J&)+;DA><MJ;@<A=HGDALAK;@=  OAJLK;@9>LDA;@= CMDLMJ=DD=MF<KHGJLDA;@==JA;@L=J

KL9LLMF?AF?JGZ=J1A=D>9DL-=;@FMF? 1GJ9DD=EAE!Da

;@=FHJG?J9EEK;@9>>=FOAJJ=A;@DA;@+D9LL>GJE>eJ J=?AGF9D=1=J9FKL9DL=J$FF=F >eJ:=KGF<=J=(=F

K;@=F >eJCMJAGK= CMDAF9JAK;@=G<=JKGRA9D=CLAGF=F MF<VO9KEAJAE.AFF<=K7;?3FD36;A)36;A+;DA> :=KGF<=JK9E#=JR=FDA=?LV>eJ<A=LQHAK;@=FA9D=C

L=<=K'9F<=K $F/AJGDN=JKL=DD=FKA;@<A=(=FK;@=F K=DL=FMF<N=JKM;@=FFA;@L >eJ=AF-9<AG G<=J!=JF

K=@AFL=JNA=O@G;@<=MLK;@RMKHJ=;@=F .A=HJaK=F

LA=J=FKA;@K=D:KL:=OMKKLAFA@J=EJ=?AGF9D=F$<AGE  <9KNGF/9DRM/9DN9JAA=JL 9K9M;@AF<=F*-! +JG

?J9EE=FRM@dJ=F LJa?LRMJ$<=FLA>ARA=JMF?<=J/AJG

D=J$FF=FEALXA@J=ES*-!:=A =KK;@DA=ZL<A=(=F

K;@=FNGEJD:=J?:AKF9;@&M>KL=AF NGEMZ=J>=JF :AKF9;@*KLLAJGDRMK9EE=F  K>J=MLEA;@FA;@LFMJ9DK'9F<=K<AJ=CLGJ<=K&) +;DA> KGF<=JF9M;@?9FRH=JKdFDA;@ O=FFA;@<9FC MFK=J=J+JG<MCL=<9K'9F<AEE=JOA=<=JF=MC=F

F=FD=JF=F<9J> O=FFA;@=J>9@J= O9K<A=(=FK;@=F @A=J<=FC=F O9KKA=:=O=?L OA=KA=D=:=F $F<=J 1A=D>9DL<=J(=FL9DALaL=F <=JA9D=CL= <=JJ=?AGF9D=F =KGF<=J@=AL=F <A=/AJGD@=AZL  

1.0**"./0,.#".




G>5=>;7266=27-.7;80;*66.7-.< 2.-.; O<=.;;.2,1.27.7+.<87-.;.7!=.55.7@.;=.27*< *7-.<<=>-28+.;2,1=.=-*;P+.;>6/*70;.2,1D



A=J=?AGF9D=1A=D>9DLAKLAF)A=<=JdKL=JJ=A;@9DK?JdZ

L=EMF<=KD9F<^KL=JJ=A;@K:=KGF<=JK9MK?=HJa?L  !eJ<9K#3@67EEFG6;A%;767D^EF7DD7;5:AKL<9K::AD

<=F<A=K=J1A=D>9DLLa?DA;@?=D=:L=+J9PAK $F=AF=J5=AL <=J>GJLK;@J=AL=F<=F"DG:9DAKA=JMF?:A=L=L<=J &)%;767D^EF7DD7;5:K=AF=E+M:DACME=AF=JLE=<A

9D=#=AE9LMF<>dJ<=JLJ=?AGF9D=$<=FLALaL 9KME>9F?J=A;@=$F>GJE9LAGFK9F?=:GL<=K#3@67E EFG6;AE%;767D^EF7DD7;5:AKLAEJ=?AGF9D=F0E>=D<<=J =D=CLJGFAK;@=F(=<A=F9DK=AFRA?9JLA?9FRMK=@=F  )36;A%;767D^EF7DD7;5:AF>GJEA=JLEAL)9;@JA;@L=F MF<.;@D9?R=AD=FRMB=<=J@9D:=F.LMF<=e:=J<A= 9CLM=DDKL=F J=A?FAKK=9MK<=F=J=A;@=F@JGFAC  +GDALAC 2AJLK;@9>LMF<&MDLMJ OG:=A<A=$F>GJE9LAGF 9MK<=E'9F<<=F.;@O=JHMFCL:AD<=L 5MKaLRDA;@= =JA;@L=MF<$FL=JNA=OKAE!Da;@=FHJG?J9EE=J?aF

R=F<A=K=K$F>GJE9LAGFK9F?=:GL 0E<9K"=K;@=@=F AF<=FN=JK;@A=<=F=F"=:A=L=F?D=A;@EaZA?RM :=Je;CKA;@LA?=F K=F<=L)36;A%;767D^EF7DD7;5:La?

DA;@9M;@(=D<MF?=FGE@[5:EF7D%[:79MK9DD=FNA=J 1A=JL=DF<=K'9F<=K 9Je:=J@AF9MKN=JKGJ?L)36;A %;767D^EF7DD7;5:K=AF+M:DACMEEAL=AF=EME>9KK=F

<=F.=JNA;=9F?=:GL 9DKGEALHJ9CLAK;@=F#AFO=AK=F  <A=<=F(=FK;@=F<A==OaDLA?MF?<=KDDL9?K =JD=A;@L=JFKGDD=F A=/@=E=FJ=A;@=FNGF"=KMF<

@=ALe:=JJ:=ALKO=DLMF<&GFKME=FL=F>J9?=F:AKRM /AHHK:=A<=J&AF<=J=JRA=@MF? )9LAGF9D=+:7?7@ E5:I7DBG@=F7<=K*-!OA=<9K+JG:D=E<=K&DAE9

O9F<=DKO=J<=F<MJ;@J=?AGF9D=KH=CL=MF<=A?=F= CLAGFKL9?==J?aFRL  M;@AE!=JFK=@=FDA=>=JL<=J&)%;767D^EF7DD7;5: K=AF=E+M:DACMEAF<=JLa?DA;@=F.=F<MF?%;767D^E F7DD7;5::7GF7ME>9F?J=A;@=$F>GJE9LAGF=Fe:=J<9K



  ,.".0 ,))&+$". +!"/!&."(0,. &"!".</0".."& %

B  ='4#06914670) =D&'4#.+5/75   

'48+%'7.67470&0(14/#6+10?4')+10#.

9CLM=DD="=K;@=@=FAF9DD=F-=?AGF=F<=K'9F<=K  A=KH9FF=F<KL=FAD<=J9DD=JJ=D=N9FL=F J=A?FAKK= AE'9F<N=JEALL=DF=AF=AFRA?9JLA?=K$F>GJE9LAGFK9F

?=:GL  &MDLMJFAEELAF<=F+JG?J9EE=F<=K&)%;767D^E F7DD7;5:=AF=F:=KGF<=J=F.L=DD=FO=JL=AF 9K#3@ 67EEFG6;A:=JA;@L=L<9Je:=JME>9F?J=A;@ /@=E=F KAF<FA;@LFMJ?JGZ=1=J9FKL9DLMF?=FOA=<9K+:73 F7D87EF<=J&)%;767D^EF7DD7;5::=JA;@L=Le:=J9DD=  $FKR=FA=JMF?=F9F.HA=DGJL=F <9K$GE;= 7EF; H3>D387@799&GFR=JL9M>R=A;@FMF?=FG<=J<A= B=O=ADA?=#3@67E3GEEF7>>G@9 =Je;CKA;@LA?LO=J<=F 9M;@<A=R9@DJ=A;@=FCD=AF=J=F&MDLMJAFALA9LAN=F ME KA==AF=E:J=AL=F+M:DACMENGJRMKL=DD=F !eJ<9K !=JFK=@=FOMJ<=F 9MZ=J<=E<A=$FKR=FA=JMF

?=F;7,@:7;>4D;@97@67"DA@7<=J)3;?G@6EB;7>7 GF7@EF7;@MF<.3E;:DIA>>F<=J*:3=7EB73D7 7EF EB;7>79M><=J-GK=F:MJ?9M>?=R=A;@F=L J@=:DA;@==<=MLMF?:=KALRL9:=J9M;@<A=&MDLMJ

HJGEGLAGF<=K#3@67EEFG6;AE (AL<=F#AFO=AK=F9M> /@=9L=JAFKR=FA=JMF?=F *H=JF9M>>e@JMF?=F &GFR=J

L=MF<MKKL=DDMF?=FLJa?L<=J&)%;767D^EF7DD7;5: =FLK;@=A<=F<RME J>GD?<A=K=J&MDLMJHJGB=CL=:=AV =AFKA?FA>AC9FL=K=AKHA=D>eJ?=D=:L=Fd>>=FLDA;@

J=;@LDA;@=FM>LJ9?  9K"D=A;@=?ADL>eJ<A=d>>=FLDA;@ J=;@LDA;@=FCLAG

F=F<=K#3@67EEFG6;AE $E%9@J OMJ<=EAL=AF=J .H=F<=FC9EH9?F=<A=-=KL9MJA=JMF?<=K.LA>L=K 5O=LLDMFL=JKLeLRL 5MJ!dJ<=JMF?<=J1=JC=@JKKA;@=J

@=AL@9L<=J&)%;767D^EF7DD7;5:<A=CLAGF#7@=7@ A:@74>7@=7@GJ?9FAKA=JL  

,.".0 ,))&+$".




#*$.+%-/+6'405+%*6

G2.!,1@.2C.;855.077.7*><-.7 .0287*5<=>-28< 4O77.7?87-.7O<=.;;.2,12<,1.7&><=N7-.77>; =;N>6.7D

,)#$+$1.0/ %". +!"/!&."(0,. ,..)".$

(=AFMF<=KD9F<?J=FRL9F<A=.;@O=AR K=ALB=@=J <9K(MKL=JD9F<<=K!d<=J9DAKEMK &=AF2MF<=J <9KK ?=J9<=>eJ<A=1GJ9JD:=J?=J$FF=F O=FF=KME'aF<=J

J=;@L=?=@L <A=.;@O=AR<9K?JGZ=1GJ:AD<AKL  )MJ:=A-MF<>MFCMF<!=JFK=@=FAKL<9K9F<=JK A= .;@O=AR=J&GDD=?$FF=F9MK<=F-=?AGF9DKLM<AGKCdF

F=FNGF<=FdKL=JJ=A;@AK;@=F5MKLaF<=FFMJLJaM

E=F 5O9J@9L<A=.-"<9>eJRMKGJ?=F <9KKNA=J .HJ9;@?JMHH=FN=JKGJ?LO=J<=F 0F<<9KAKL=AF= E=@J9DKJ=KH=CL9:D='=AKLMF? G;@<9KK<A= .;@O=AR>eJ9DD=&9FLGF= N=J?D=A;@:9JEAL<=FMF

<=KDaF<=JF =AF==A?=F=La?DA;@=$F>GJE9LAGFKK=F

<MF?AE!=JFK=@=F=JEd?DA;@L AKL=AF=0LGHA=  :=F

KGOA==AF .LMF<=F 1GDDHJG?J9EEAE-9<AG  :=F

KGOA=KLaF<A?=GCM '=AKL=FOA=XEF7DD7;5: ;>6 G<=JD>74@;EXEF7DD7;5:9MLGFGE?=KL9DL=L $E-9<AG CdFF=F<A=.-" -=?AGF9DKLM<AGK B=O=ADK>eJA@J=F .=F<=:=J=A;@ RM(ALL9?=AF-=?AGF9DBGMJF9DK=F<=F V'GC9DF9;@JA;@L=FRMJ@9D:=F.LMF<= D9M>=F<=9CLM

=DD=DGC9D=2=LL=J MF<1=JC=@JKAF>GJE9LAGF=F >eF> '9F<=KJMF<K;@9M=FHJG/9? =AF=La?DA;@==AFKLeF<A

?=&MDLMJK=F<MF? La?DA;@=1GDCKEMKACK=F<MF?=F FMJ9MK<=J-=?AGFV<9K?A:L=KAF<A=K=J!GJEFMJAF ^KL=JJ=A;@ 2=FFAF=AF=EMFK=J=J)9;@:9JC9FLGF==AF5OA

K;@=F>9DDH9KKA=JL <9FFAKLMFK=J&9E=J9L=9EE=AK

L=FK<=MLDA;@NGJ<=F.;@O=AR=J&GDD=?$FF=F9E .;@9MHD9LR _:JA?=FK9M;@ME=AFA?=KJ9K;@=J9DK<A= &GDD=?$FF=FNGF<=JHJAN9L=F&GFCMJJ=FR )A;@L=LO9 O=AD<A=&GDD=?$FF=FK;@D9>=FG<=JK;@O=J>aDDA?KAF<V KA=@9:=F=AF>9;@O=K=FLDA;@O=AL=J=F>9@JLKO=?=

RM:=O=JCKL=DDA?=F  D=CLJGFAK;@=J!d<=J9DAKEMK @=AZLFaEDA;@9M;@ J9K;@=JMF<Fa@=J9E"=K;@=@=F <J9FRMK=AF 2=FFAF<=J.;@O=AR=AF&GFR=JLNGFJ=?AGF9D=J=<=M

LMF?KL9LL>AF<=L <9K<A=F9LAGF9D=(=KKD9LL=FA;@L K;@9>>L <9FF?A:L=KAF<=J-=?=DC=AF=M>R=A;@FMF?  DD=AF<9K#3@67EEFG6;A-AD3D>47D9FAEEL>eJ<9K-=?AG

F9DHJG?J9EEBa@JDA;@MLR=F<=&GFR=JL=9MK<=J MF< 0 (MKACG<=J<=J1GDCKEMKACKR=F=9M> "9FRRMK;@O=A

?=FNGFMFK=J=FCLANALaL=F9M><=E.=CLGJ$G@63DF DA5= <A=K=AL>eF>%9@J=FK=@JRMJ$<=FLALaLKKLA>LMF?:=A BMF?=F1GJ9JD:=J?=J$FF=F:=ALJ9?=F  2=FF:=AMFK=J=F)9;@:9JF=AF(=AKL=JK;@9>LKKHA=D AF=AF=J-9F<KHGJL9JLOA=#9F<:9DDKL9LL>AF<=L <9FF OAJ<<9KNA=DD=A;@L9:MF<RMe:=JLJ9?=F 9:=J<9KK 9DD=AF9MK=AF=EMF<=KD9F<NGF<=J"JdZ=1GJ9JD

:=J?KAF=AF=E%9@J .=F<=EAFML=F>eJ *-!.+*-/+'0.e:=J-9F<KHGJL9JL=Fe:=JLJ9?=F O=J<=F OaJ=<GJLMF<=FC:9J 29KA;@<9EALK9?=FOADD=Jd>>=FLDA;@ J=;@LDA;@= *-!C9FF<A==OG@F=J$FF=FK=AF=J-=?AGF=F O=K=FLDA;@ME>9KK=F<=Je:=J J=A?FAKK=AFA@J=E )9@J9MEAF>GJEA=J=F  JC9FF&MDLMJ G<=J.HGJL=J

=A?FAKK=<=J-=?AGF?9FR9F<=JK:=@9F<=DF  JAKL>eJ <A=F9LAGF9D=F$F>GJE9LAGFKK=F<MF?=FAF-9<AG !=JF

K=@=FMF<AEE=JE=@J9M;@AE*FDAF=:=J=A;@=AF MFN=JRA;@L:9J=KLGML 5MJ J>eDDMF?<=Kd>>=FLDA;@

J=;@LDA;@=FM>LJ9?K=:=FKGOA=AE&9EH>ME(9JCL

9FL=AD= 

,)#$+$1.0/ %".




B  ='4#06914670) =D&'4#.+5/75   

'41)& )1"".& %0&'4#0&'567&+15

/</3=>?81=,/<3-2>./<"+8./==>?.39=.95?7/8>3/<>.+=?70+81</3-2/</1398+6/./8>3>N>/80R<./<8 ./?01+,/8=:/5><?7.3/:<90/==398/66/?8.=9D3+6/97:/>/8D=9A3/.+=R00/8>63-2</-2>63-2/#/6,=>@/< =>N8.83=./<8/?87?6>37/.3+6/8#>S>D:?85>/./=K=>/<</3-23=-2/8"?8.0?85=38./8?8./=6N8./<8 6="/:<N=/8>+8>/8./=6/,/8.31/8"?8.0?850R./<+63=7?=:06/1/8.3/+8./==>?.39=.3/1/=/66=-2+0>63-2/ 5?6>?</66/?8.=:<+-263-2/&3/60+6>#3/=:3/1/68</1398+6/?8.695+6//,/8=A3<563-25/3>/8?8..3/8/8./8 /8=-2/838+66/8"/1398/8@3+"+.39$&?8.8>/<8/>+6=16+?,AS<.31/?8.D?@/<6N==31/809<7+>398=;?/6 6/ #3/ 63/0/<8 =-28/66 ?8. ?70+==/8. +-2<3-2>/8 /3><N1/ ?8. 38>/<1<?8.,/<3-2>/ S,/< .3/ @3/60N6>31/8 I/?315/3>/8@9<./<+?=>S<E=9<1/80S< <91<+77382+6>/@98?873>>/6,+</78>/</==/?8.0?813/</80S< 32< ?,635?7+6=@/<><+?>/'/1,/16/3>/<37169,+6.313>+6/8/.3/8.=-2?81/6 /<R00/8>63-2//2<A/<>./8.3/+8./==>?.39=0S<.3/ ./838D/68/ 8?8..3//=/66=-2+0>/<,<381/8A3<. 37/3=>?81=,/<3-2> +82+8.@98=3/,/8 ?,63-&+6?/+>/19<3/8.+<1/=>/66>       

ǯ'HU,QIRUPDWLRQVXQG2ULHQWLHUXQJVZHUW ǯ'HU:HUWGHUUHJLRQDOHQ9LHOIDOWXQG3XEOLNXPVQ¦KH ǯ'HUGHPRNUDWLVFKH:HUW ǯ'HUNXOWXUHOOH:HUW ǯ'HU5DWJHEHUXQG6HUYLFHZHUW ǯ'HU)UHL]HLWXQG8QWHUKDOWXQJVZHUW ǯ'HU+LOIVXQG6R]LDOZHUW

/</3=>?81=,/<3-2>366?=><3/<>+82+8.5985</>/</3=:3/6/.3/S66/?8.&3/60+6>./< <91<+77/?8.5>3@3 >N>/8.3/.3/"+8./==>?.39=S,/<.3/'+2<8/27?8132</<1/=/>D63-2/8?0><N1/238+?=/<,<381/86= ./7661/7/38A926@/<:063-2>/>//6/5><983=-2//3>7/.3/838./8?8./=6N8./<8@/<73>>/68=3/32</7 ?,63 5?7/37+>N2/?8.?>D/8







G>;89.*79>+52,<.;?2,.+;8*-,*<=.;<*;.276B8927287.<<.7=2*5<8,2.=*5 27<=2=>=287<27=1.<.;?2,.8/,>5=>;.*7--.68,;*,B>;89.*727=.0;*=287=1. .6.;0.7,.8/*1>0.27=.;7*=287*56.-2*6*;4.=*7-=1.7.@98<<2+252=2.< 8//.;.-+B-202=*5=.,178580B1*?.875B6*-.=12<68;.;.5.?*7=>+52,<.;?2,. +;8*-,*<=.;<*,=*<0>*;-2*7<8/7*=287*5,>5=>;*5-2?.;<2=BH $M,5*?*?.5!,1;2/=<=.55.;.1.6;N<2-.7=-.;"<,1.,12<,1.7 .9>+524




 !  "DG:9DAKA=JMF?:=LJA>>L9DD= MJ;@1=J:AF<MF?=FMF<:@aF?A?C=AL=F $F&JAK=FMF<9DK FLOA;CDMF?K

;@9F;=F 9@=JRa@D=FN=JLJ9M=FKOeJ<A?=$F>GJE9LAGF 1=JF=LRMF?MF<&GFL9CL 2=J<A=2=DLMF<OA=KA=>MFCLAGFA=JLN=JKL=@=FOADD OAJ<F9;@5MK9EE=F@aF?=FMF<#AFL=J?JeF<=F >J9?=F )9;@<=F.LJMCLMJ=F@AFL=J"D9FRMF<"D9EGMJ =F5OAK;@=FJaME=FMF<<MFCD=F.=AL=F  =F#G>>FMF?=FMF<=>eJ;@LMF?=F !eJ<=F*-!?ADL$F<=JAD<=J>DML<=J?DG:9D=F(=<A=FO=DLRa@DL1=JDaKKDA;@C=AL  A=&GEH=L=FR=A?=FKLaF<A?F9;@RM>J9?=FMF<FA;@LFMJ)9;@JA;@L=FRMe:=JF=@E=F  0FK=JM>LJ9?$F>GJE9LAGFK MF<0FL=J@9DLMF?KIM9DALaLEAL=MJGHaAK;@=FAE=FKAGF=FMF<AFL=JF9LAG

F9D=E.L9F<9J< =J*-!AKL=AF=Je;C=RMJ2=DL 5M?aF?DA;@>eJ9DD= $F!=JFK=@=F -9<AGMF<$FL=JF=L




$!#!# !"#%




=.<:)/  







 

-1;<=6/ 

 

 

 

 

 

$F>GJE9LAGFMF<0FL=J@9DLMF? 9MK?9FR MJGH9 MJGH9J=A>=&GEEMFAC9LAGF 9DK-=9DKR=F9JAG ME>9KK=F<VN=JKLaF<DA;@VCJALAK;@

-0:?-:< $!#!#

G'I(2/B8>,86.=8>;89.@2=12=<6*72/85-=;*-2=287<=1.;.,*7+.78-8>+==1*=.*,1 >;89.*7>+52,;8*-,*<=.;2<*52?270.A*695.8/=1.9;8=.,=287*7-9;868=2878/,>5 =>;*5-2?.;<=2=B"1.>;89.*7%*B8/2/.2<+*<.-8727=.0;*=287*7-<852-*;2=B*7- 9>+52,<.;?2,.+;8*-,*<=2702<+8=12=<8@7.A9;.<<287*7-62;;8;H 2*,868*CC87. G>5=>;*52?.;<2=B*7->+52,!.;?2,.;8*-,*<=270 *;;2*0.8/7=.;.<=<D




MJGH9AKLC=AF+>DA;@L>9;@AE.;@MD>=JFK=@=F KGF<=JF =AF=#=J9MK>GJ<=JMF?>eJ<=Fd>>=FLDA;@ J=;@LDA;@=F -MF<>MFC =J*-!=JC=FFL<A=K=+=JKH=CLAN=9DK@9F;= MF<M>LJ9? *:5MKLAEEMF?G<=J:D=@FMF? &JALAC G<=J=?=AKL=JMF?A="JMF<D9?=>eJ1=JKLaF<A?MF?AE =MJGHaAK;@=F&GFL=PLKAF<F9;@@9DLA?=$F>GJE9LAGFMF< 0FL=J@9DLMF?EAL=MJGHaAK;@=E#GJARGFL  +JG<MCLAF>GJE9LAGFAF.9;@=F MJGH9=A-AKAC=FG<=J )=:=FOAJCMF?=F>J9?=F.A=$@J=Fd>>=FLDA;@ J=;@LDA;@=F -MF<>MFC 

:)3<1;+0-:=<B-6 

$F>GJE9LAGFMF<0FL=J@9DLMF?EALDA;C9M>?9FR MJGH9  1=JLJ9M=FKOeJ<A? ME>9KK=F< NA=D>aDLA?




+'B56'44'+%*70&&+' '.6

G2.2<,1>70*><181.;852=24)*>/.>;89N2 <,1.;+.7.>;89*27-.;O<=.;;.2,12<,1.7 77.79852=24>7->762==.5+*;.;.=;8//.71.2= -.;87<>6.7=77.76*,1=-.7+.<87-.;.7 .2C-.;#.;2,1=.;<=*==>70*><D

&*1+!<3  ,.."/-,+!"+0.=//")

A==JA;@L=JKL9LLMF?MF9:@aF?A?=J(=<A=F@9LAF HDMJ9DAKLAK;@=F=EGCJ9LA=F=AF=<GHH=DL=M>?9:= .A=KGDDe:=J<A=O=K=FLDA;@=F?=K=DDK;@9>LDA;@=F FL

OA;CDMF?=FAF>GJEA=J=F ?D=A;@R=ALA?9:=J9M;@9DK @AFL=J>J9?=F<=K"=?=F?=OA;@LRMNGJ?=>9KKL=F(=A

FMF?=FMF<<=FHGDALAK;@G<=JdCGFGEAK;@(a;@LA

?=FOAJC=F !eJ<A= MJGH9:=JA;@L=JKL9LLMF?AF^KL=J

J=A;@CGEEL9DKRMKaLRDA;@=#=J9MK>GJ<=JMF?<9RM  <9KK<A=^>>=FLDA;@C=ALRM<=F 0 KC=HLAK;@=F<=K &GFLAF=FLK?=@dJL  DKD9F?Ba@JA?=J*-! &GJJ=KHGF<=FLAF29K@AF?LGF @9:=A;@=JD=:L O=D;@K;@O=JOA=?=F<=!GD?=F=K @9:=FC9FF O=FFKA;@(=<A=F=AF=ENGJ@=JJK;@=F

<=F/J=F<9FH9KK=F 1GJ<=E$J9CCJA=?O9J<9KAF<=J KA;@=J@=ALKHGDALAK;@=F=JA;@L=JKL9LLMF?CD9J<=J!9DD  "De;CDA;@=JO=AK==JD9M:L=<A=KL9JC=/J9<ALAGF=AF=K MF9:@aF?A?=F%GMJF9DAKEMKAF<=F0.AF<=J!GD?= J9K;@<A=2A=<=J:=D=:MF?<=JCJALAK;@=F^>>=FLDA;@

C=AL $F MJGH9KLaJC=Fd>>=FLDA;@ J=;@LDA;@=.=F<=J  <A=F9;@<=E=AKHA=D<=J9?A=J=F <=F.HA=D

J9ME>eJ=AF=K=D:KL:=OMKKL=<=EGCJ9LAK;@=5ANAD?=

K=DDK;@9>LEAL=MJGHaAK;@=E+JG:D=E:=OMKKLK=AF  A=9MK?=OG?=F==JA;@L=JKL9LLMF?d>>=FLDA;@ J=;@LDA

;@=J(=<A=Fe:=J<A=GDAB[;E5:7,@;A@AKL<9>eJ=AF MFN=JRA;@L:9J=J=ALJ9? $FJeKK=DO9J=FAEN=J?9F?=F=F%9@J<A=<J=A&GJJ=K

HGF<=FL$FF=F.GFB9.9?E=AKL=J +9MD.;@A=>=JMF< -9AEMF<'dOLaLA? 0FL=JKLeLRLO=J<=FKA=NGF=AF=E CD=AF=FeJGEAL+JG<M;=J$FF=FMF<.=CJ=L9JA9L A= OA;@LA?KL=M>?9:=K=@=F<A=*-! &GJJ=KHGF<=FL$F

F=FAFJeKK=D<9JAF <A==MJGHaAK;@=2AJCDA;@C=AL   

RM<=J^KL=JJ=A;@?=@dJL AF9DDA@J=F.;@9LLA=JMF?=F OA=<=JRM?=:=F 2AJR=A?=FAFMFK=J=F=JA;@L=F OA= AF<=J 0=AF=F=M==MJGHaAK;@=$FF=FHGDALACOa;@KL  OA=KA;@ MJGH9AF<=J?DG:9DAKA=JL=F2=DLHGKALAGFA=JL MF<O=D;@=-GDD=<9:=A^KL=JJ=A;@KHA=D=FC9FF  9:=AAKLRM:=Je;CKA;@LA?=F <9KK<A=1GJKL=DDMF?=F =AF=K?JGZ=F/=ADKMFK=J=K+M:DACMEKK=@JO=ALNGF <=FJ=9D9:D9M>=F<=F1GJ?aF?=F9:O=A;@=F AF=?9FR:=KGF<=J=-GDD=CGEEL<9:=A FLK;@=A

<MF?KHJGR=KK=FMF<=:9LL=FAE)3F AF<=J"A??;E E;A@MF<AEGDAB[;E5:7@'3D>3?7@FRM MK>e@JDA;@@9:=FOAJAEN=J?9F?=F=F%9@Je:=J<A= N=JK;@A=<=F=F FLOA;CDMF?KKLM>=F<=K&DAE9H9C=LK <=J 0AF>GJEA=JL 1GFJeKK=D9MKCGFFL=FOAJAEE=JOA=<=J<A=9MZ=F

HGDALAK;@=F(AKKAGF=F<=J 0AE/K;@9<MF<AE&GKG

NGRMOA;@LA?=F/@=E=F<=J)9;@JA;@L=FK=F<MF?=F <=K#dJ>MFCKMF<<=K!=JFK=@=FKE9;@=F _:=J<=F-7DFD39HA@#;EE34A@@9L<=J*-!E=@J=J= AKCMKKAGFKK=F<MF?=FEAL+9JD9E=FL9JA=J$FF=F  &GEEAKK9J$FF=FMF< PH=JL$FF=F<MJ;@?=>e@JL  JeKK=DAKLRO9JFA;@L>GJE=DD#9MHLKL9<L<=J 0  LJGLR<=ED9M>=F@A=J<A=!a<=F<=J=MJGHaAK;@=F+GDA

LACRMK9EE=F :=JNA=D=\F?KL=MF< JO9JLMF?=F  <A=EAL=AF=ERMK9EE=FO9;@K=F<=F MJGH9N=J:MF

<=FKAF< O=J<=F9M><A= 0 $FKLALMLAGF=FHJGBARA=JL  9K>e@JL9MK<=J.A;@L=AF=K=@=E9DA?=F0. &GJJ=K

HGF<=FL=FRMMF=JO9JL=L=F+9J9DD=D=FROAK;@=F 29K@AF?LGFMF<JeKK=D


2a@J=F<KA;@AF<=F0.<9K-=HGJL=JD=:=FG>LME <9KLa?DA;@=+J=KK=:JA=>AF?AE2=AZ=F#9MK<J=@L  KL=@L>eJ<A= 0 &GJJ=KHGF<=FL$FF=F<9KLa?DA;@= JA=>AF?<=J, "A??;EE;A@AE5=FLJME A=+J=KK=

KHJ=;@=J$FF=F<=J&GEEAKK9J$FF=FKAF<RO9JFA;@L +GDALKL9JKOA=A@J=9E=JAC9FAK;@=F&GDD=?$FF=F KGF

<=JFK9;@CMF<A?==9EL$FF=F :=J$F>GJE9LAGF=F =J@aDLE9F9DK-=HGJL=J$FAFJeKK=DO9@JK;@=AFDA;@ D=A;@L=J9DK9M><=J9F<=J=F.=AL=<=KLD9FLACK 9>eJ D=A<=L<A=&GEEMFAC9LAGF<=J 0 !e@JMF?EAL<=F  (AG  0 eJ?=J$FF=F9FCGEHDARA=JL=F.LJMCLMJ=F MF<>=@D=F<=J+=JKGF9DAKA=JMF?.=D:KL<=J"A??;E E;A@EBD[E;67@FAKLNA=D=F(=FK;@=FFA;@L:=C9FFL  9RMCGEEL=AFCJ9KK=K=>ARAL<=J.QE:GD=$E MF9FK=@FDA;@=F MJGH9NA=JL=DNGFJeKK=D?A:L=K C=AF9J;@AL=CLGFAK;@=K.QE:GDNGF=;@L=JMKKLJ9@

DMF?KCJ9>L <9K<A=eJ?=J$FF=FEAL<=J 0N=J:AF<=F CdFFL=F =F!=JFK=@J=HGJL=J$FF=F:D=A:L9DK#AFL=J

?JMF<FMJ<A=C9DL="D9K>JGFL<=K=JD9QEGFL "=:aM

<=K<=J, "A??;EE;A@G<=J<=JF9@=?=D=?=F= RMEAF<=KLEAL@AKLGJAK;@=J+9LAF99MK?=KL9LL=L=:=D

?AK;@=/JAMEH@:G?=F<=K+9J;AFIM9FL=F9AJ=  9KAFKLALMLAGF=DD='=:=F<=J 0KHA=DLKA;@FA;@LFMJ AFJeKK=DMF<.LJ9Z:MJ? <=E.ALR<=KGDAB3B3D>3 ?7@FE9: 59@DJ=A;@==:9LL=FMF< FLK;@=A<MF?=F H9KKA=J=FAE'9F<<=JB=O=ADA?=F+JaKA<=FLK;@9>L  RMD=LRLAF+GJLM?9D .DGO=FA=FMF<!J9FCJ=A;@ "=J9<= AE(=<AME7D@E7:7@C9FF<A=1A=D>9DL MJGH9KMF< <A=LJGLR<=E?=O9;@K=F=1=JF=LRMF?<=K&GFLAF=FLK ?=R=A?LO=J<=F

A=&GJJ=KHGF<=FL$FF=F<=K&) _DAED_EE7> O9J=FFA;@LFMJ:=A9DD=FJ=D=N9FL=F"AH>=DF<9:=A  KA=@9:=FAE%MFA 9M;@<AJ=CLNGE-=>=J=F<ME AF$JD9F<:=JA;@L=L -=HGJL9?=FMF<F9DQK=F?9:=K NGF<=F"AH>=DLJ=>>=F<=J 0EAL<=J8D;=3@;E5:7@ ,@;A@AF'AKK9:GF F<=  :=AE, ,* ;B87>AF 'BM:DB9F9MF<:=AE=JKL=F/J=>>=F<=J 0 !e@JMF?EAL <=EF=M=FJMKKAK;@=F+JaKA<=FL=F(=<O=<=OAE KA:AJAK;@=F@9FLAB(9FKABKC

   =7412#06')4#6+10    ='4#06914670)

"9FRa@FDA;@OA=NGJ<=E2=AZ=F#9MKAF29K@AF?

LGF <=E5=FLJME<=K9E=JAC9FAK;@=F$EH=JAMEK  :JAF?=F9M;@AF<=J-M=<=D9'GANGJ<=E-9LK?=:aM

<=>9KLLa?DA;@=EGFKLJ9FL$FF=FA@J=KH=RA>AK;@=F FDA=?=FNGJA= 0AKL=AFR=FLJ9D=J<J=KK9L>eJ?DG

:9D=/@=E=FNGE&DAE9K;@MLR:AKRMJ:JeKLMF?G<=J <=J=CaEH>MF?<=K#MF?=JK 

$F$FL=JNA=OKM 9 EAL+7>7=A??G@;=3F;A@E=A??;E E3D;@1ANA9F=-=<AF? #3@6I;DFE5:38FE=A??;EE3D;@ (9JA9F!AK;@=JG=D GV7@=A??;EE3D;@=FAL9!=J

J=JG 29D<F=JMF<GV7@BA>;F;=473G8FD39F7?%9NA=J .GD9F9@9:=FOAJNGF#9F<QL9JA>=F:AKRME(ADALaJ

=AFK9LRAE/K;@9<=AF=:J=AL=+9D=LL=NGF!J9?=F :=@9F<=DLMF<<=E+M:DACME9M;@<A=+=JKdFDA;@C=A

L=F<=J@9F<=DF<=F+GDALAC=J$FF=F MJGH9KFa@=J?=

:J9;@L .=F<MF?=FOA=<9KGDAB3 !AGD@3><=K#dJ

>MFCKG<=J<9KA:73GEAE!=JFK=@=F?=:=F<=F :?=GJ<F=L=F<=KGDAB[;E5:7@'3D>3?7@FE-9ME .L9JC=KM?=FE=JC@9L<9K&) _DAD_EE7>9M> &GFKME=FL$FF=FL@=E=F?=D=?L  2=D;@=(d?DA;@C=AL=F:AJ?LKLaJC=J=&GFCMJJ=FRAE "=KMF<@=ALK:=J=A;@A=K=J!J9?=?AF?=FOAJAE 5MK9EE=F@9F?EAL=AF=J0FL=JKM;@MF?<=J"A??;E E;A@e:=J<A=?=JAF?=F(9JCL;@9F;=FNGF"=F=JAC9 :=A=AF=E1=J?D=A;@<=J"=KMF<@=ALKKQKL=E=AF ^KL=JJ=A;@MF<AF=D?A=FF9;@ A=$<==<=K?A4;>7@ '3F;7@F7@OMJ<=AFMFK=J=F=JA;@L=F9M>Ed?DA;@= MKOAJCMF?=F>eJ^KL=JJ=A;@MFL=JKM;@L A=K=(AK;@MF?9MKX@G@=J+GDALACS9M>=MJGHaAK;@=J :=F=  MJGH9AF<=JdKL=JJ=A;@AK;@=F$FF=FHGDALAC MF<MFEALL=D:9J=J=LJG>>=F@=AL<=J&GFKME=FL$FF=F E9;@L<=F:=KGF<=J=F-=AR<=J 0 =JA;@L=JKL9LLMF? 9MK .A=CGF>JGFLA=JL<9K+M:DACMEEAL=AF=EJ=9DAK

LAK;@=FAD<<=J=MJGHaAK;@=F2AJCDA;@C=ALMF<LJa?L <9EALRMJHGDALAK;@=F(=AFMF?K:AD<MF?:=A 

&*1+!<3

 


B56'44'+%*70&7412#

G*<2<=*55.<<8486952C2.;=)2<=C@*;;2,1=20 *+.;4.27.><;.-.72,1=-*;P+.;C>+.;2,1=.7D

.&$&00"0 () 1 %/ : 1.,-,1.+)

DKNGJ=LO9KE=@J9DKR=@F%9@J=F<9K=JKL=X GDAB3 !AGD@3>9M>.=F<MF??AF? <9O9J=K>eJMFK.=F<MF?K

E9;@=J$FF=FCD9J <9KK MJGH9>eJMFKFA;@LFMJ<A= <9E9DA?=F(AL?DA=<KDaF<=J<=JGDAB[;E5:7@,@;A@V MF<<A= <A==KFG;@O=J<=FOGDDL=FMF<AEE=JFG;@ OGDD=FVKAF< KGF<=JF<9KKOAJO=<=J<=J.;@O=ARFG;@ )GJO=?=F 9:=J9M;@FA;@L-MKKD9F<MF<<=J0CJ9AF= A@J=X=MJGHaAK;@=S$<=FLALaLKLJ=ALA?E9;@=FOGDD=F  =FFOA=KGDD=F OA=OGDD=FOAJ MJGH9<=FF<=>AFA=

J=F"=G?J9>AK;@+GDALAK;@2AJLK;@9>LDA;@#AKLG

JAK;@&MDLMJ=DD9OAJ9M>9DD<A=K=KH=CL=9E ?=K9EL=F&GFLAF=FLF=M?A=JA?O9J=FVMF<AEE=J FG;@KAF<V@9:=FOAJ:=K;@DGKK=F MFK=:=FEAL9DD <A=K=FKH=CL=FRM:=K;@a>LA?=F E9F;@E9D>GCMK

KA=JL9M>=AF'9F< RME=AKL9:=J<G;@?J=FRe:=J

K;@J=AL=F< M>B=<=F!9DDAEE=JJ=D=N9FL>eJ MJGH9  9KK<A= 0MF<<=J=MJGHaAK;@=$FL=?J9LAGFKHJGR=KK <9KR=FLJ9D= D=E=FLMFK=J=J=LJ9;@LMF?=FKAF<  N=JKL=@LKA;@<9=A?=FLDA;@NGFK=D:KL

2=FFOAJ<9Je:=J:=JA;@L=F O=D;@=DL=JF9LAN=FE9F AF.H9FA=F>eJ<A==OaKK=JMF?NGF"GD>HDaLR=FMF< "=EeK=>=D<=JFKM;@LVMF<9M;@>AF<=LV O=FFOAJ +DaF=<=J, "A??;EE;A@RMJ=MJGHaAK;@=F29KK=J

OAJLK;@9>L@AFL=J>J9?=F <9FFN=JKM;@=FOAJ<9EAL 9M;@EAL<=E(QL@GK9M>RMJaME=F OGF9;@<A=GDA B[;E5:7,@;A@MFKXMFK=JS29KK=JCD9M=FOADD 2=FF OA=AE(aJR  AF9DD=F(AL?DA=<KDaF<=JF<=J GDAB[;E5:7@,@;A@eJ?=JCGF>=J=FR=FKL9LL>AF<=F  :=A<=F=FKA;@=MJGHaAK;@=eJ?=J$FF=F<9Je:=J "=<9FC=FE9;@=F OA==KO=AL=J?=@=FCdFFL=G<=J KGDDL=AF<=JGDAB[;E5:7@,@;A@ <9FFD9<=FOAJ dKL=JJ=A;@AK;@=/=ADF=@E=J$FF=F=AF e:=JA@J=1GJ

KL=DDMF?=F>eJ<A=5MCMF>L<=J0FAGFRMKHJ=;@=F 2=FF<A=, "A??;EE;A@$FALA9LAN=F>eJ<A="D=A;@:=

J=;@LA?MF?:=@AF<=JL=J(=FK;@=FKL9JL=L O=FFaF=

E9JCKA;@RME(MKL=JK;@eD=J:=AE F=J?A=KH9J=F =FLOA;C=DL O=FFdKL=JJ=A;@AK;@=MF<LK;@=;@AK;@= "=O=JCK;@9>L=J$FF=F=AF9F<=JLJ=>>=F ME<9K(G<=DD =AF=J?J=FRe:=JK;@J=AL=F<=F.GRA9DH9JLF=JK;@9>LRM <AKCMLA=J=F O=FFE9FAF=MLK;@D9F<AF!GD?=R9@DJ=A

;@=J&GJJMHLAGFKKC9F<9D=9M><=J.M;@=F9;@=AF=J F=M=F2AJLK;@9>LKEGJ9DAKL O=FFAF>Je@=J=F*KL:DG;C

DaF<=JFHDdLRDA;@?JeF=+9JL=A=F:GGE=F <9FFAKL <9KGDAB3 !AGD@3>EAL<=E(ACJG>GF<9:=A

0F<AEE=JOA=<=J<9K-AF?=FME<A=$FKLALMLAGF=FJ=

>GJEAF MJGH9 $KL=K=AF=GDAB[;E5:7-7D83EEG@9>;9:F G<=J<G;@O9K?9FR9F<=J=K2=D;@=K'9F<KM;@LF9;@ O=D;@=J.GF<=JJ=?=DMF?2=D;@=#9DLMF?@9:=F MJGH9

H9JD9E=FL9JA=J$FF=F9MK^KL=JJ=A;@ 9:=J9M;@9MK<=F 2=FF=LO9 KGOA=AEHJAD  =AFF=M=J>J9FRdKAK;@=J 9F<=J=F 0 .L99L=F<9RM2=D;@==<=MLMF?@9:=F <A=K=-=>GJE=FAE&Ja>L=?D=A;@?=OA;@LROAK;@=F<=F=AF

+JaKA<=FL?=Oa@DLOAJ< <9FFKAF<<A=29@DHJG?J9EE= R=DF=F$FKLALMLAGF=F "A??;EE;A@ )3FMF<'3D>3?7@F <=J&9F<A<9L$FF=FFA;@LFMJ>eJ<A=AF+9JAKD=:=F<=(AL

L=DK;@A;@LG<=JJ:=ALKDGK=AF.L ,M=FLAF AF<=J+A;9J<A= 0F<O9K@9:=F<A=eJ?=J$FF=F MJGH9K<9NGFX3E;EF 3>>7EEA=A?B>;L;7DFSAKLRO9JJA;@LA? 9:=JC=AF=MKJ=<=  NGF=<=MLMF? KGF<=JFVAF=AF=JFA;@LFMJ?DG:9DAKA=J

FA;@L<9Je:=JRM:=JA;@L=F 2=FF9DKGd>>=FLDA;@ J=;@LDA

L=F KGF<=JF9M;@=MJGHaAKA=JL=F2=DLV9M;@>eJdKL=J

J=A;@AK;@=(=<A=FCGFKME=FL$FF=FNGF=D9F? 2=FFOAJ ;@=J2=JL:=<=ML=L <9KKE9FLJGLRAEE=JO=FA?=J(AL9J

:=AL=J$FF=FMF<AEE=JO=FA?=JM<?=LAEE=JFG;@ NA=DD=A;@Ld>L=J9DK9F<=J=(=<A=FNGF<=F FLOA;CDMF

?=F OAJLK;@9>LDA;@ HGDALAK;@MF<?=K=DDK;@9>LDA;@9MK<=F RM>JA=<=F=#dJ=J$FF=F@9L <9FFKGDDL=<=J=O=AK<=K )9;@>GD?=KL99L=F%M?GKD9OA=FK:=JA;@L=F <9FF<=K@9D:  d>>=FLDA;@ J=;@LDA;@=F2=JLKOG@D?=DMF?=FK=AF  O=AD<A=K=BMF?=F.L99L=FAFMFK=J=JMFEALL=D:9J=F)9;@

:9JK;@9>LMFK=AF>9;@=LO9K9F?=@=F .&$&00"0 () 1 %/  


-=:7.145D6-=)*

=J>AP=.=F<=HD9LR<=K=MJGHaAK;@=F!ADEKVB=<=F!J=AL9?F9;@<=J1;ME 0@JVN=JKL=@LKA;@9DK.LaLL=<=K=MJGHaAK;@=F,M9DALaLK>ADEK K=A=K HGDALAK;@=J  ?=K=DDK;@9>LDA;@ J=D=N9FL=J  <J9E9LAK;@=J G<=J CGEd<A9FLAK;@=J !ADEEALFKHJM;@9MK^KL=JJ=A;@?=F9MKGOA=9MK=MLK;@D9F< "JGZ:JAL9F

FA=F $L9DA=F !J9FCJ=A;@ .H9FA=FG<=J.C9F<AF9NA=F DK:=KGF<=J=J.=JNA;= O=J<=FF=:=F<=MLK;@KHJ9;@A?=F+J=EA=J=F9M;@MKKLJ9@DMF?=FAF1I7;=3 @3>FA@ 9DKG9M>=MLK;@MF<AF<=J*JA?AF9D>9KKMF? ?=R=A?L 5MJ<=MLK;@=F JKL9M>>e@JMF??=D9F?L=KGR  $77D7E8D_5:F7NGF*DANA=JM;9KL=DMF<%9;

IM=K(9JLAF=9M

</7./'/6>/823-5/86/->398=G.95F67 AF=9DL=aM=JAFAF.=J:A=FDaKKLKA;@NGFA@J=E FC=D =AF=EDGC9D=F+GDAR=A:=9EL=F <A=.=?FMF?=F<=K (G:ADL=D=>GFK=JCDaJ=F DLE=AKL=J"GJ9F-9<GN9FGNA;K;@M>EAL<A=K=EGCME=FL9JTDE=AF(AFA9LMJHGJLJaL =AF=J?9FR=F"=K=DDK;@9>L <A=ROAK;@=F9?J9JAK;@=F2MJR=DFMF<EG<=JF=J/=;@FACR=JJAKK=FOAJ< :;5=7@ >75F;A@EAKL=AFLJ9?ACGEAK;@=J=JA;@Le:=J<A= AFK9EC=AL <A='9F<UM;@LMF<e:=J<=F/G<NGJ<=E/G< *-! R=A?L=<=F6A= O>?9E )GN=E:=J



   =7412#06')4#6+10    ='4#06914670)

7412#+/70&#&+1

G =:78)7=:6)4

9KOd;@=FLDA;@=(9?9RAF9E!J=AL9? V 0@J:A=L=LHGDALAK;@=MF< OAJLK;@9>LDA;@=/@=E=F9MK?9FR MJGH9  J?aFRLO=J<=F<A==JA;@L=<MJ;@ $FL=JNA=OK MF< AKCMKKAGF=F  9F <=F=F KA;@ <A= >e@J=F<=F PH=JL$FF=F <=J =MJGHaAK;@=F+GDALACMF<2AJLK;@9>L:=L=ADA?=F 

OMJ<=<=JX&GKGNG !J9

?=S9MK?=?=:=F=EFD9KK=AF=:J=AL=+D9LL>GJE?=:GL=F 9:=J9M;@9F<=J= "=:A=L= NGF ?JGZ=E =MJGHaAK;@=E $FL=J=KK=  OA= .H9FA=F MF< )GJ<AJD9F<  OMJ<=FAF<=J.=F<MF?9MK>e@JDA;@:=@9F<=DL A=+JaKA<=FL$FF=FO9@D=FAF !J9FCJ=A;@KGOA=<A=AKCMKKAGF=FME<=F 0 -=>GJEN=JLJ9?O9J=F=:=F>9DDK R=FLJ9D=/@=E=F

</7./'/6>/89=5+?G+=292/+?=G.95F67 9K#G;@@9MKAF-MKKD9F<K(=LJGHGD=O9J=AFKL<=J.LGDR<=J.GOB=LJ=?A=JMF? #=ML=:AD<=F<A=2G@FH9JL=A

=F=AF&9D=A<GKCGH<=JJMKKAK;@=F"=K=DDK;@9>L =JJ=FGEEA=JL=JMKKAK;@=!ADE=E9;@=J+9N=D'MF?AFE9;@

L=KA;@9M> AED=?=F<aJ=F"=:aM<=<A=.==D=-MKKD9F<KRM=J?JeF<=F 9K*-! +M:DACMECGFFL=A@E9E (9A

>GD?=F 

-:=:7>1;176"76/76<-;<

.=AL N=J9FKL9DL=L<A=GDAB[;E5:7)G@68G@=G@;A@AE-9@E=F<=JGDA H;E;A@<=FGDAH;E;A@*A@9A@F7EF =J*-!FAEELK=AL9F<A=K=J1=J

9FKL9DLMF?L=ADMF<=FLK=F<=L=:=J=ALK &eFKLD=J$FF=FMF<(MKAC?JMHH=F 

OMJ<==JKLE9DKF9;@<=E1GJ:AD<<=K*A@9A@F7EFE<=J=JKL=GDAH; E;A@3@57A@F7EFN=J9FKL9DL=L A=F=M=.=F<MF? 9F<=J )9LAGF=FL=AD

F9@E=F AKL=AF=-=9CLAGF9M><A==MJGH9O=AL==DA=:L@=ALF=M=J/9FR !GJE9L= OA==LO9<A=*-! +JG<MCLAGF3@5;@9*F3DE 


'4+/'7412C+5%*'0/('.&

G2..>;89N2<,1.7=.0;*=287@2;-?87>7<*5<0.<.55 <,1*/=52,1.;>7-4>5=>;.55.;;8C.<<?.;<=*7-.7 -.7.<>6/*<<.7--*;C><=.55.7>7-4;2=2<,1C> +.05.2=.7025=*C>CN15.7#7=.;1*5=>70</8;6*=. 0.7*><8@2.-2.7/8;6*=287P+.;.>;89N2<,1.>5 =>;-.7=2=N=7<=2=>=287.7852=24>7-%2;=<,1*/=D

"&+%.! ,)&(  )+1+$1+!,,.!&+0&,+

A=1=JEALLDMF?=MJGHaAK;@=J$F@9DL=MF<2=JL=O9J <=E*-!K;@GFNGJ<=E=ALJALL^KL=JJ=A;@KRMJ 0 OA;@LA?MF<OMJ<=K=AL<=ECGFLAFMA=JDA;@9MK?=:9ML  MK<A=K=E"JMF<O9J<=J*-!AE%9@J"JeF

<MF?KEAL?DA=<<=K<=MLK;@KHJ9;@A?=F"=E=AF

K;@9>LKHJG?J9EEKE3F O=AL=JK:=D=?LOAJ<<A=K <MJ;@<A=ME>9KK=F<=FCLANALaL=F <A=<=J*-!F9;@  9:=J9M;@K;@GFNGJ<=E!9DD<=K AK=JF=F1GJ@9F?=K ?=K=LRL@9L =J*-!@9LL=AF<=J<9E9DA?=F/K;@=;@G

KDGO9C=A AF0F?9JF .DGO=FA=FMF<+GD=FNA=D>aDLA?= (d?DA;@C=AL=F>eJ<A=HJG?J9EEDA;@=5MK9EE=F9J

:=AL?=KM;@LMF<?=>MF<=F  A=K==MJGHaAK;@=AE=FKAGF<=K-MF<>MFCKMFL=J

K;@=A<=L<=F*-!AFK=AF=J2AJCMF?9M>"=K=DDK;@9>L MF<&MDLMJE9JC9FLNGFCGEE=JRA=DD=F(AL:=O=J

:=JF <A=A@J='=AKLMF?=FRO9J>eJ<A=eJ?=J$FF=F9DK &GFKME=FL$FF=F 9:=JFA;@LNGJ<JAF?DA;@9DK.L99LK

:eJ?=J$FF=F=J:JAF?=F A=AF@9DLDA;@=MF<AFKLALMLAG

F=DD=5MK9EE=F9J:=ALMFL=JKLJ=A;@LMFK=J="=KL9D

LMF?KEd?DA;@C=AL=FAF MJGH9 A=<J=AAE!GD?=F<=F KCARRA=JL=F(G<=DD=KAF<=JHJG:L==AKHA=D==AF=J >MFCLAGFA=J=F<=Fd>>=FLDA;@ J=;@LDA;@=F&GGH=J9LAGF 9M>=MJGHaAK;@=J :=F= !=6, ;)< A=5MK9EE=F9J:=AL<=Jd>>=FLDA;@ J=;@LDA;@=F.=F

<=9FKL9DL=F=MLK;@D9F<K <=J.;@O=ARMF<^KL=J

J=A;@KAE-9@E=FNGFK9L=J>eDDL=AF=O=JLNGDD= &GEHD=E=FLaJ>MFCLAGFAEd>>=FLDA;@ J=;@LDA;@=F.QK

L=E "JGZ=&MDLMJ=J=A?FAKK=V*H=JF /@=9L=J MF< &GFR=JL9M>R=A;@FMF?=F GCME=FL9J MF<!=JFK=@

>ADE=V@9:=F:=AK9L=:=FKGA@J=F>=KL=F+D9LROA= 

2AKK=FK;@9>LKK=F<MF?=F 9Je:=J@AF9MKO=;CLK9L EAL.;@O=JHMFCL=FMF</@=E=FL9?=F<9K$FL=J=KK= >eJ9FKHJM;@KNGDD=K+JG?J9EE  !=6,!# .=AL=PAKLA=JL=AF=&GGH=J9LAGF<=K*-!EAL<=E <=MLK;@ >J9FRdKAK;@=F&MDLMJC9F9D-/ K=ALHJAD  AKL<=J*-!9KKGRAA=JL=K(AL?DA=< -/ AFN=KLA=J

L= =J@=:DA;@==LJa?=AF&GHJG<MCLAGF=FEAL <=E*-! K;@O=JHMFCLEaZA?AF<=F.H9JL=F"G>FGD  .;EE7@E5:38FMF<17;F97E5:;5:F7 !=6,!)480) A=&GGH=J9LAGF<=K*-!EAL<=E/1 .9L=DDAL=FHJG

?J9EE<=K9Q=JAK;@=F-MF<>MFCK:=KL=@LK=AL%MFA  =J*-!DA=>=JLBa@JDA;@JMF< .LMF<=F+JG

?J9EE>eJ<=F:9Q=JAK;@=FAD<MF?KC9F9D :=KL=

@=F<9MK=AF=E:MFL=F(APNGFJ;@ANHJG<MCLAGF=F  9CLM=DD=F+JG?J9EEK;@dH>MF?=FMF<=A?=FK?=>=J

LA?L=F.=F<MF?=F9MK<=F=J=A;@=F.;EE7@E5:38F G@6;>6G@9 "G@EF "G>FGD 7E5:;5:F7 )7>;9;A@ ':; >AEAB:;7MF<#3@67E=G@67  J=A=AKHA=D= =AF="=E=AFK9EC=AL!eJ<=F*-! =F<=L<A= J:JAF?MF?NGF'G4>;5-3>G7FA;@L9F<=J .L99LK?J=FR= 2AJ:JAF?=F^KL=JJ=A;@F9;@ MJGH9 MF<R=A?=F MJGH9AF^KL=JJ=A;@ A=K=J1=JKM;@ =AF= 9M>?=?=FK=ALA?=EMKL9MK;@:9KA=J=F<==MJGHaA

K;@=^>>=FLDA;@C=ALRMK;@9>>=F AKLd>>=FLDA;@ J=;@LDA

;@=J(=@JO=JLE9<=:Q*-! 

"&+%.! ,)&(


G;<-::-1+0 =4<=:-@87:<6)+0=:78)

#'XEF7DD7;5:AKL<9K.=F<=>=FKL=J<=K*-!AEAD<MF?KC9F9D<=K9Q=

JAK;@=F-MF<>MFCK ) 3>B:3 <9KNGF(GFL9?:AK!J=AL9? 

V  0@J @=AEAK;@=GCME=FL9LAGF=FR=A?L 9KAFL=JF9LAGF9D?=DG:L=^KL=JJ=A;@

>=FKL=JC9FF9M;@9M>R9@DJ=A;@= A?=FHJG<MCLAGF=FN=JO=AK=F A=$F@9DL=<=J =AFR=DF=F.=F<MF?=FKAF<=AKHA=D=>eJ<A=1A=D>9DL <A=<9K*-! +JG?J9EE AE =MJGH9O=AL 9MK?=KLJ9@DL=F .9L=DDAL=FHJG?J9EE RM N=J=AF=F KM;@L"G@EF G@6"G>FGD )7>;9;A@G@6':;>AEAB:;7 .;EE7@E5:38FG@6;>6G@9 17;F97E5:;5: F7  #3@67E=G@67 MF< -A>=E=G>FGD KL=@=F AE (ALL=DHMFCL  =J *-! :A=L=L EAL #' XEF7DD7;5: Ba@JDA;@   .LMF<=F @G;@O=JLA?=K dKL=JJ=A;@AK;@=K +JG

?J9EE A=.=F<MF?=F?=Oa@J=F AF:DA;C=AFdKL=JJ=A;@AK;@='=:=FK9JL9M> @d;@KL=E)AN=9MMF<HJaK=FLA=J=F@=AEAK;@=#d@=HMFCL=CMDLMJ=DD=F'=:=FK MF<.;@9>>=FK

>9F<=FKA;@e:=J

AF5MK9EE=F9J:=ALEAL-HJG<MRA=JL=GCME=FL9

LAGF=FAE+JG?J9EENGF#'XEF7DD7;5: #d@=HMFCL=<=K%9@J=KO9J=F ǯ'HU9HUVWDQGKDWNHLQ*HVFKOHFKWǤ)UDXHQLQWHFKQLVFKHU)RUVFKXQJ =J!ADE NGF <AL@9;@CdFA?E9;@L=9E %9FM9J<=FF>9F?AE=J=A?FAKJ=A;@=F%9@J

 A=GCME=FL9LAGFK;@AD<=JL<=FDDL9?MF<<A=@9F;=FNGF!J9M=FAF =AF=J:AKD9F?EaFF=J<GEAFA=JL=FJ9F;@= 

   ='4#06914670)    =7412#06')4#6+10

7412C+5%*'414+<106

ǯ 5HOLJLRQ XQG .UDQNHQSIOHJH O9J =AF :==AF<JM;C=F<=J !ADE NGF -GF9D< +  19M?@F  J R=A?L <A= <MJ;@ &MDLMJ MF< -=DA?AGF :=<AF?L=F 0FL=JK;@A=<= AE #GKHARO=K=F  ǯ%HUQKDUG+DLQZDJWHLP6RPPHUHLQHQ%OLFNLQGLH=XNXQIWXQGIUDJWHQDFK <=F$76;=3?7@F7@67E

!3:DF3GE7@6E 29K=J>9F< OMJ<=9E %MFA

 9M>#'XEF7DD7;5:?=K=F<=L 

!-511674,.K:73=5-6<)<176

FLGFA90FD9M>K!ADE'87D67?7;@7*77>7=J@A=DL=AF=F<=JOA;@LA?KL=FAFL=J

F9LAGF9D=F!ADEHJ=AK=>eJGCME=FL9LAGF=F A=NGE*-!>eJ<=F.H9JL=FC9

F9D) 3>B:3HJG<MRA=JL=GCME=FL9LAGFOMJ<=:=AE

.AD>67EFAGEFA@ AF<=J&9L=?GJA=A=G?7@F3F;A@7@EAL=AF=E#9MHLHJ=AKV=AF=E)7?;AF"GD< V9MK?=R=A;@F=L A=GCME=FL9LAGF <A=9E (9A

AF#'XEF7D D7;5:RMK=@=FO9J K;@AD<=JL9M>KM:LAD=2=AK=MF<9MKN=JK;@A=<=FKL=FDA;C

OAFC=DF<9K1=J@aDLFAKROAK;@=F(=FK;@MF<+>=J<

</7./'/6>/8 K=>/<</3-2"?7N83/837+?=?<9:+ (=@J9DK

(=FK;@=F>=A=JL=FAF.A:AM<=F=ALJALLA@J=K'9F<=KRMJGDAB[;E5:7@,@;A@MF<<A= JF=F

FMF?RMJGDAB[;E5:7@"G>FGD:3GBFEF36F 5O=A/9?=MF<RO=A)a;@L=<9M=JL=F<A=!=A=JDA;@C=AL=F !eJ-M

EaFA=FO9J=K=AFD9F?=JMF<:=K;@O=JDA;@=J2=?AF<A=GDAB[;E5:77?7;@E5:38F A=E9KKAN=:O9F<=JMF?<=J =NdDC=JMF?.A=:=F:eJ?=FK <A=E9JG<='9F<OAJLK;@9>LMF<<A=N=JDGJ=F=$<=FLALaL<=J-GE9KAF<FMJ=AFA?=<=J +JG:D=E= <=F=F0DJAC=+AKLGLFAC <A=2A=F=J$FALA9LGJAF<=K.;@MDH9JLF=JK;@9>LKHJGB=CL=K1G=G@8F;@)G?[@;7@AF <=FN=J?9F?=F=F%9@J=FRM:=?=?F=FN=JKM;@L= A=GCME=FL9LAGFNGF/@=G<GJGEG;GK <A=#'XEF7DD7;5: 9E !=:JM9J9MKKLJ9@DL= KH9FFL=AF=FCMDLMJ=DD=FMF<CMDLMJ?=K;@A;@LDA;@=FG?=FNGE F<=<=K.GRA9DAKEMK :AKRME=ALJALL9DK(AL?DA=<=AF=J"=E=AFK;@9>LOAJLK;@9>LDA;@=J2=JL=MF<5A=D=

=+>?8."$=3/2/#/3>/ 0 


7412C+5%*''452'-6+8'

</7./'/6>/8%83@/<=?7/<'+6.<+::G38&91/637?0A38. 1GJNA=J%9@J=FE9;@L=KA;@=AF="JMHH=dKL=JJ=A;@AK;@=JMF<<=MLK;@=J5GGDG?$FF=F9M> =AFO9@J@9>LN=J

Je;CL=K:=FL=M=JEALK=DLK9E=F1d?=DFMF<@9DK:J=;@=JAK;@=F!DM??=JaL=FRM=JD=:=F )MFKA=@L=KKG9MK  9DKOeJ<=A@J/J9ME2AJCDA;@C=ALO=J<=F<A=2A=<=J9FKA=<=DMF?=AF=KAE(ALL=D9DL=JAF MJGH99MK?=KLGJ

:=F=F1G?=DK 2A=K;@GF

<GCME=FLA=JL9M;@

=AF!ADE9MK<=J*-! .=F<=J=A@=,@;H7DEG?<A=K=K =MJGHaAK;@=+JGB=CL <9KCMJRNGJ<=E?JGZ=F J>GD?KL=@L  (ALL=M?MKLOMJ<=<=F%MF?Nd?=DF?=R=A?L OA=MF<OGKA=9E:=KL=FRME_:=JOAFL=JFF9;@.e<=FUA=?=F  .A=>GD?L=FA@J=FE=FK;@DA;@=F5A=@=DL=JF <A=A@F=FAF"D=ALK;@AJE=FEAL+JGH=DD=J9FLJA=:NGJ9FUG?=F  AF= KGD;@=:=FL=M=JJ=AK=NGF^KL=JJ=A;@AF<A=/GKC9F9>9F<

:=J=ALKRMENA=JL=F(9DKL9LL G;@RME=JK

L=F(9D?=D9F?=K <9KK29D<J9HH= <A=EAL<=F!DM??=JaL=FF9;@$L9DA=F?=D=AL=LOMJ<=F K=D:KLKLaF<A?<=F 2=?RMJe;CRMA@J=E"=:MJLKGJLAF^KL=JJ=A;@?=>MF<=F@9:=F .A=CGFFL=FKA;@9DKG<A=-GML= <A=A@F=FNGF <=FAGDG?$FF=FAFA@J=F'=A;@LUM?R=M?=FNGJ?=?=:=FOMJ<= L9LKa;@DA;@E=JC=F

16/)6B=6,/):-=:78I1;+0-:167.145 1,;=55-:),6-;;

$F<=JCeJR=KL=F)9;@L'=LLD9F<K<J=@LKA;@9DD=KMEO=FA?.;@D9>MF<NA=D'A=

:= $F$;6EG??7D$36@7EE <=E!ADE<=KAF'=LLD9F<?=:GJ=F=F=MLK;@=F D=P9F<=J#9@F KM;@LMJL =AFBMF?=JE=JAC9F=J K=AF=#9D:K;@O=KL=J =A K=AF=JFCMF>LAF-A?9AKL=JRMFa;@KLO=FA?:=?=AKL=JLNGF=AF=EX$;6EG? ?7DS>=A=JF<=F'9F<  AFKCMJJAD=J/9PA>9@J=JMF<NA=D=O=AL=J=F=M==C9FFL

K;@9>L=FKAF<B=<G;@FMJ<=J=?AFF=AF=J9M>J=?=F<=F)9;@LJ=AK= =J*-!MFL=JKLeLRL=EAL$;6EG??7D$36@7EE=AF=MJGHaAK;@=K&AFGHJGB=CL  <9K <A=K=F )9E=F 9M;@ N=J<A=FL  "D=A;@ NA=J 'aF<=J :=L=ADA?L=F KA;@ 9F <=J #=JKL=DDMF?'=LLD9F< "JGZ:JAL9FFA=F -MKKD9F<MF<^KL=JJ=A;@ MKO=AL=J=F 'aF<=JFC9E=F9JKL=DD=J$FF=FRME AFK9LRGEAFAIM=+AFGF9MK!J9FCJ=A;@ MF<(9JA9<=(=<=AJGK9MK+GJLM?9D -GD9F<eJAF?=JMF</G:A9K(GJ=LLAO9

J=F<A=dKL=JJ=A;@AK;@==L=ADA?MF?RMJ=K=LRMF?KDAKL=




LO9R=@FE9DAE%9@JDa<L+JG> +9MD'=F<N9A9E.GFFL9?NGJEALL9? 0@J  *-! @G;@J9F?A?=%GMJF9DAKL$FF=FMF< PH=JL$FF=F9MK9DD=J2=DLAFKGDA B3EFG6;A  ME e:=J 9MZ=FHGDALAK;@= /GHL@=E=F RM <AKCMLA=J=F  .L9F<HMFCL= 9:K=ALK<=K(9AFKLJ=9EKKAF<AF<=FN=J?9F?=F=F%9@J=FRM=AF=E(9JC=F

R=A;@=F<=KGDAB3EFG6;AE?=OGJ<=F 

!$!DG;<-::-1+0)=.,-614,;+01:5-6=:78);

.=AL

AKL&),)&'>eJ0JD9M:=J$FF=F "=K;@a>LKJ=AK=F<= MKD9F<K

dKL=JJ=A;@=J$FF=FMF<AFL=J=KKA=JL= MJGHa=J$FF=Fe:=J<=FA?AL9DK9L=DDAL=F *+) AF MJGH9>J=A=EH>9F?:9J &),)&'AF>GJEA=JL?9FR MJGH9 9CLM=DDEALdKL=JJ=A;@AK;@=F/@=E=FMF<E9;@L<=F&GFLAF=FLEAL<=JdKL=J

J=A;@AK;@=F'=:=FK9JL:=C9FFL *:17;F;?;>6 )7BADFG<=J#,V<9K=M

JGH9O=AL=F?=:GLNGF*-! ME>9KKL<A=CGEHD=LL=+9D=LL=<=J$F>GJE9LAGFK

K=F<MF?=F <9RM?A:L=K9M;@@=AEAK;@=0FL=J@9DLMF?MF<&MDLMJK=F<MF?=F >eJ<9K=MJGHaAK;@=+M:DACME

G "-6,-;+0?-:8=63<E )0:-$C

=JX .75=7DOA<E=L=KA;@AE(aJR

<=E%M:ADaMEX !3:D7,S =A

LJa?=:=D=M;@L=L=FM 9 <A=/@=E=F7D>3@97.79HA@XEF7DD7;5:;@6;7,  GDAB[;E5:>747@MF<;7,G@6;:D71G=G@8F A=X %35:D;5:F7@:=JA;@L=L=F e:=J<=FRO=ALa?A?=F 0 "AH>=DAF=JDAFKGOA=e:=J<=F!=KL9CL <=J9E  (aJRAF2A=FKL9LL>9F<

   =7412#06')4#6+10

=:78);<=,17

</7./'/6>/8/?/'/6>G.95F67 %7G7.7>F 9MK?=KLJ9@DL9E .=HL=E:=J

AF<=J-=A@=6A= O>? AKL=AF-=AK=TDEe:=J<9K"=KL=JFMF< <9K#=ML=B=F=J'9F<KLJA;@=(ALL=D=MJGH9K <A=9DKd@E=F .A=:=F:eJ?=F 9DE9LA=F "9DARA=FG<=JMCG

OAF9/=AD<=JdKL=JJ=A;@AK;@ MF?9JAK;@=F(GF9J;@A=O9J=F  AF=?=G?J9TK;@= 9:=J9M;@=AF=5=ALJ=AK=9MK <=J9DL=F2=DLAF=AF=F=M= NGF.9J9B=OGF9;@2A=FMF<-MEaFA=F NGF/JA=KLAF<A=M;@LNGF&GLGJ NGF<=J MF?9JAK;@=F+MKRL9AF<A=0CJ9AF= 

16B=:78)#7=:>76=*-:<>7671;-:6

 KL9JL=L= #M:=JL NGF "GAK=JF <A= #;@L GDAB3 +AGD  (AL <J=A .;@A>>=F  9F< MF< J=O K;@AHH=JL= =J <A= GF9M KLJGE9:OaJLK :AK RMJ (eF<MF? AE .;@O9JR=F(==J M>A@J=J-=AK=D=?L=<A=J=ONA=D=JGJLK9F MEEAL:=C9FF

L=F&eFKLD=J$FF=F9MK<=F-=?AGF=F&GFR=JL=9FGJ<RMKHA=D=F A=K=(M

KAC@A?@DA?@LK O9J=F 9DD=K9EL :=A >J=A=E AFLJALL RM?aF?DA;@ MF< KGJ?L=F >eJ =AF:=?=AKL=JL=K+M:DACME9F'9F< =J*-!:=?D=AL=L<A=?=K9EL=/GMJ =AF=K <=JOA;@LA?KL=F+JGB=CL=NGF#;@L 9DK(=<A=FH9JLF=JMF<R=A?LAE.GEE=J

=AF=>eF>L=ADA?=GCM

4K;;-,-:-6K;;-

A= F=M=  AFL=JF9LAGF9D CGHJG<MRA=JL= .=F<MF? >_EE7 67D 7@_EE7 KL9J

L=L=

RM=AF=JCMDLMJ=DD=FMF<CMDAF9JAK;@=F FL<=;CMF?KJ=AK=<MJ;@ ^KL=JJ=A;@ =MLK;@D9F<MF<!J9FCJ=A;@  FLD9F?:=C9FFL=J>_EE767D7 @_EE7:=KM;@L<A=-=A@=B=O=ADK9E.GFFL9?  0@J *-! .La<L=MF< (=FK;@=F MF< :=JA;@L=L= <9Je:=J  OA= KA= D=:=F  OA= KA= >=A=JF MF< NGJ 9DD=FAF?=F O9KKA=CG;@=F




+'70&9+4

I=1/2>38./</,+>>/D?7 ?,63-&+6?/*?77/2<+6= 8?<?7/.3/8&3/67/2<=38.A3<K00/8>63-2"/-2>63 -2/8A92683-2>D?0N663138.+=38/80/6.*./<1<9J/8 %'/<>/?8.<3/8>3/<?81=3=5?==3981/<+>/8E

,/"#1//". "1#0.$0".!"/

=Jd>>=FLDA;@ J=;@LDA;@=-MF<>MFCKL=@LAF?9FR MJG

H9G>>ARA=DD9M><=E+Je>KL9F< $FMFK=J=E!9DD@9L<A= , .7FF47I7D4E47:^D679E %9FM9J =AF7; :;>87H7D83:D7@?=?=F^KL=JJ=A;@=Jd>>F=L OA=AF9F<=

J=F!aDD=F9M;@  =E*-!OAJ<NGFK=AF=F&GFCMJJ=FL=F9E@=AEA

K;@=F(=<A9O=JL (9JCLNGJ?=OGJ>=F =JOeJ<=<MJ;@ K=AF=$FL=JF=L CLANALaL=F<A=K=F(9JCLN=JR=JJ=F  M;@K=A:=AKHA=DKO=AK=K=AF.HGJL .H9JL=FC9F9D  <=KK=F=JA;@L=JKL9LLMF?e:=J-9F<KHGJL9JL=F>J9?

DGK'G4>;5-3>G7<9JKL=DDL =AF==AFRA?=2=LL:=O=J:K

N=JR=JJMF?  A=AKCMKKAGFME<=Fd>>=FLDA;@ J=;@LDA;@=F-MF<

>MFCAKLFGLO=F<A? AF<=J<A?AL9D=F2=DLE=@J<=FF B= <9J9FRO=A>=DLVMFK=AF?=K;@DGKK=FVFA=E9F<  9KK<A=7;:;>87H7D83:D7@NGF<=J"A??;EE;A@9DK GE;@7EE3EGEG3>:=R=A;@F=LO=J<=FMF<>9KL9MK

K;@DA=ZDA;@&@>;@7:=LJ=>>=F <9J>9:=J<=FDA;C9M> O=K=FLDA;@=!J9?=FFA;@LN=JKL=DD=F )2A=R=FLJ9DKGDD MJGH99<EAFAKLJA=JLMF<AFD=LRL=J &GFK=IM=FRJ=?A=JLO=J<=FO=D;@=-GDD=KGDD=F<A= F9LAGF9D=F+9JD9E=FL=MF<-=?A=JMF?=FCeF>LA? FG;@@9:=FOGDD=FOAJ<=F?=K9EL=MJGHaAK;@=F @9J9CL=JAF-A;@LMF?-7D7;@;9F7*F33F7@HA@GDAB3 LJ=A:=FG<=JOGDD=FOAJ9M><=E)9LAGF9DKL99LK

"=<9FC=F:=@9JJ=FMK.A;@LB=F=J AF<=J=F$FL=J

=KK=FD9?==AF=5=FLJ9DJ=?A=JMF? MJGH9KH9KKL KAF< d>>=FLDA;@ J=;@LDA;@=-MF<>MFC9F:A=L=JEALA@J=J MFe:=J:GL=F=FF9LAGF9D=F$<=FLALaLKKLA>LMF?K &J9>L N=JRA;@L:9J  *2A=KGRA9DKGDD MJGH9:D=A:=FVOA=KL9JCKGDD=K <=FX>J=A=F2=LL:=O=J:SAE.AFF=F=GDA:=J9D=J$<=9D

NGJKL=DDMF?=F>GJ;A=J=FA=K=!J9?=:=Je@JLNA=D= 

J9F;@=FIM=J<MJ;@9DD==MJGHaAK;@=F.L99L=F <=J BeF?KL=29@DC9EH>@9LKA=9M;@AF^KL=JJ=A;@AF<=F (ALL=DHMFCL<=JF9LAGF9D=F=:9LL=?=KL=DDL  KDA=?L 9M><=J#9F< <9KK<=Jd>>=FLDA;@ J=;@LDA;@=-MF<>MFC =AFO=AL@AFKA;@L:9J=K.QE:GD?=?=F<A=J=AF=F=GDA

:=J9D='=@J=<9JKL=DDL  2=FF<=Jd>>=FLDA;@ J=;@LDA;@=-MF<>MFC<9KN=J?9F

?=F=%9@JR=@FLAF<=FE=AKL=F'aF<=JF MJGH9KO=AL

?=@=F<MF:=K;@9<=Le:=JKL9F<=F@9L DA=?L<9KOG@D FA;@LRMD=LRL<9J9F <9KK<A==>eJOGJL=J$FF=FNGF XE=@J(9JCLSG>LB=F=KAF< <A=9M><=EF9LAGF9D=F .=D:KL:=@9MHLMF?KOADD=F9EKLaJCKL=F:=@9JJ=FR   AF"JGZ:JAL9FFA=FG<=J/K;@=;@A=F $F<=KB=F= <A= 9EN=@=E=FL=KL=F>eJ<A=-7D7;@;9F7@*F33F7@HA@ GDAB3=AFLJ=L=FFA;@LK=DL=F<A=KAF< <A=<=E2G@D

>9@JLK MF<.GRA9DKL99LK?=<9FC=F9F@aF?=FMF< =AF=E:=<=ML=F<=Fd>>=FLDA;@=F.=CLGJ<9K2GJL J=<=F  A=+JG?FGK=>eJ<9KCGEE=F<=%9@JR=@FLAKLFA;@L RMLJ=FF=FNGF<=J9DD?=E=AF=F FLOA;CDMF?<=J 0 MF<<9:=ANGF<=F?DG:9D=F FLOA;CDMF?=F 9M><A= MJGH9J=9?A=J=FOAJ<EeKK=F =J5M?AF-A;@LMF? R=FLJ9DAKLAK;@=K MJGH9 <=JNGJDaM>A?AF<=J.L9LAGF M:DAFKL=@L CGEEL=JOA=<=JAF!9@JL=J5M?AF -A;@LMF?=AF=KKGRA9DEGLANA=JL=F MJGH9K OAJ<=J !9@JL9M>F=@E=FG<=J=JF=MLAF-A;@LMF?NdDDA?=J (9JCLGJA=FLA=JMF?ME?=D=AL=LO=J<=F A=K=MF<NA=D=9F<=J=!J9?=FD9KK=FB=<=+JG?FGK= D=LRLDA;@RMJHMJ=F.H=CMD9LAGFO=J<=F =FFG;@ 0FK=J=&9JL=FKL9F<=FK;@D=;@L=J9DK  <9K DaKKLKA;@N=J=AF>9;@=F<<G;@K9?=F 0F<<A=MF?=

>a@J (=FK;@=F <A=<=Jd>>=FLDA;@ J=;@LDA;@= -MF<>MFCK=CLGJAF MJGH9:=K;@a>LA?L KAF<B9FA;@L CD=AF=)MKKK;@9D=FAE*R=9F<=J"=K;@A;@L= KGF

<=JFHGL=FRA=DDK=@JOAJCMF?KEa;@LA?=+D9Q=JAF<A=

K=E+JGR=KK 2=FFKA=<9KV9E:=KL=F?=E=AFK9E V=JC=FF=F A@J=FB=O=ADA?=FF9LAGF9D=F'G4>;5-3>G7 NA=D=FLK;@DGKK=F=J9DK:AK@=JN=J9FK;@9MDA;@=F  <9FF@9L<=Jd>>=FLDA;@ J=;@LDA;@=-MF<>MFCE=@J 5MCMF>L9DK1=J?9F?=F@=AL 

,/"#1//".


1-=:78I1;+0-!=6,.=63=6176

A=,9DK5MK9EE=FK;@DMKK<=J=MJGHaAK;@=Fd>>=FLDA;@ J=;@LDA;@=F-MF<

>MFC9FKL9DL=FOMJ<=9E !=:JM9J 9M>=AF=J&GF>=J=FRAF"JGZ:JAL9F

FA=F?=?JeF<=LVEAL<=E5A=D =AF)=LRO=JCRMEMKL9MK;@NGF)9;@JA;@L=F

>ADE=F 9M>RM:9M=F  =K 2=AL=J=F KGDD <A=, L=;@FAK;@= FLOA;CDMF?=F AE -9<AG MF<!=JFK=@:=J=A;@NGJ9FLJ=A:=FMF<KL9F<9J<AKA=J=F (ALLD=JO=AD=@9L <A=,1GDDEAL?DA=<=J9MK .L99L=FMF< 9KKGRAA=JL=(AL?DA=<=J9MK  O=AL=J=F 'aF<=JF  7;?3F 8D7?67 7;?3F =LO9 :=L=ADA?L= KA;@ 9E +JG

?J9EEK;@O=JHMFCL$GE>;?7;@GDAB3EALB=O=ADK EAFeLA?=F(=FK;@=F

:AD<=JF 9MK $JD9F<  .;@O=<=F MF< aF=E9JC  A=K= +GJLJaLK KL9EE=F 9MK =AF=J&GHJG<MCLAGFEAL=D>+9JLF=JKL9LAGF=F<=J,

1-$)4;8741<1;+0-;:/)6

A=,N=JLJALLA@J=(AL?DA=<=JNGJ<=JGDAB[;E5:7@,@;A@EAL<=JM>?9:=  2A;@LA?C=ALMF<)MLR=F<=Jd>>=FLDA;@ J=;@LDA;@=F.=F<=JNGJ<=FHGDALAK;@=F FLK;@=A<MF?KLJa?=J$FF=F9F?=E=KK=FRMHJaK=FLA=J=F 5M<=E9J:=AL=L<A= ,=F?EAL<=J,%&MF<EAL<=J,%*&RMK9EE=F <9EAL9DD=!=JFK=@KL9LA

GF=F O=D;@=<A=5A=D=<=J,L=AD=F AF<A=O=DLO=AL=F+JGR=KK=<=J(=<A=F

HGDALAC=AF?=:MF<=FKAF<

   ='4#06914670)    =7412#06')4#6+10

'4+/'7412C+5%*'0'4$70&

"<:=3<=:,-:$

.=AL

KLJMCLMJA=JLKA;@<A=,AFK=;@K&GEAL==K-9<AG /1 )9;@JA;@L=F  .HGJL  /=;@FAC  -=;@L MF< ^>>=FLDA;@C=ALK9J:=AL  A=K=F AKL =AF= "=K;@a>LK

>e@JMF? EAL R=@F (AL?DA=<=JF e:=J?=GJ<F=L  "=F=J9D<AJ=CLGJ J  D=P9F<=J 2J9:=LR MF< J  -9AF=J !AK;@=J .== N=JLJ=L=F <=F *-! :=A <=J "=F=J9DN=J

K9EEDMF? 5M<=E@9L<=J*-!R9@DJ=A;@=1=JLJ=L=J$FF=FAF<=FB=O=ADA?=F&G

EAL==KMF<"J=EA=F (A;@9=D9%9NGJKCQR  AKL(AL?DA=<<=J1=JK9EEDMF?<=J +JG?J9EE  MF< !=JFK=@<AJ=CLGJ$FF=F KGOA= <=J AJ=CLGJ$FF=F AE 0FL=J@9D

LMF?K:=J=A;@ (9? !J9FR"J9:F=JAKLAF<=J1=JK9EEDMF?<=JAJ=CLGJ$FF=F >eJGCME=FL9LAGF=F AJ=CLGJ DE9J*:=J@9MK=JMF<#9FK#M:=JKAF<RO=A <=J>eF>*-! 1=JLJ=L=J$FF=FAE=J=A;@/1 .HGJL 9F=:=F?A:L=KFG;@NA=D= 9F<=J=(AL9J:=AL=J$FF=F<=K*-! <A=AF<=F=AFR=DF=FMKK;@eKK=F<=J, OA;@LA?==MJGHaAK;@= FLK;@=A<MF?=FLJ=>>=F

</7./'/6>/8'3<=38.=9@/<2+==>G35>398+6/=367:<94/5>./<% +9JAK  9K>J9FRdKAK;@=MZ=F9ELOADDAF MJGH9=AF=FKL9:AD=F!JA=<=F@=JKL=DD=F 2=K=FLDA;@=1GJ9MK

K=LRMF?=AF.;@MDL=JK;@DMKKEAL<=E=@=E9DA?=F&JA=?K?=?F=J=MLK;@D9F< !eJ<A=+9JAK=J.LM<=FLAF(9JA= =KLJ9<=MF<<=F=MLK;@=F%eJ?=F&dDD=J=FLOA;C=DLKA;@<A=@AKLGJAK;@=1=J:Je<=JMF?RM=AF=E?=>a@JDA;@=F .HA=ZJML=FD9M> <=FFFG;@KAF<<A=-=KK=FLAE=FLKROAK;@=F:=A<=F1GDCK?JMHH=F?JGZ DK@=J9MKCGEEL  <9KK<A=RO=A=AF=aJ=@9:=F ?=J9L=FKA=ROAK;@=F9DD=!JGFL=F  A=JMF<<J=A(AG  MJGL=MJ=+JG<MCLAGF<9JMFL=J 

 MJGNGE7D@E7:8A@6EGEFD;3e:=J<A= FLKL=@MF? <=JGDAB[;E5:7@,@;A@OMJ<=MFL=J9F<=J=EAF2A=F?=<J=@L .;@9MHDaLR=O9J=F<A="=LJ=A<=:dJK=MF<<9K9>c -ALL=J "=R=A?LOMJ<=<=J!ADE9E !=:JM9JAF*-!  KK=A=AF!ADEe:=J'A=:=MF<!JA=<=F =JCDaJL-=?AKK=MJ !J9F;CHHJ=<=JAKX;7D_@6G@967D,;EF67D3D3@F8_D67@_47D!3:D763G7D@67@D;767@;@GDAB3 S

$"=6<-:;<K<B<J..-6<41+0:-+0<41+0-6!=6,.=63

$F A@J=J"A@H7@F;A@ LGD D:3>FG@9 67D =G>FGD7>>7@ -;7>83>F  <A= K=AL (aJR

 AF &J9>LAKL MFL=JKLeLRL<A=,%*&=PHDARALX$3V@3:?7@6;763D3G834L;7>7@6;7 $76;7@H;7>83>FLG7D:^:7@G@6LI3D3G5:6GD5:67@^887@F>;5:7@)G@68G@=S 


=.<:)/    

  

  

  

   

-1;<=6/ 

 

 

 

 

 

)9;@JA;@L=FMF<0FL=J@9DLMF? 9MK9DD=J2=DLV PHGJLdKL=JJ=A;@AK;@=J,M9DALaL AF<A=2=DL 2=DLG>>=F@=AL =JA;@L=JKL9LLMF?  MF< FL=JL9AFE=FL AE?DG:9D=F&GFL=PL

-0:?-:< !"#%D  16<-:6)<176)4-:"<)6,):,

G.;*-.267/8;6*=287<C.2=*5=.;2<=.27>7*+1N7020.;/O-.;*5.;>7-0.6.277P=C20.; O//.7=52,1;.,1=52,1.; >7-/>74<8@.;=?855@2.72.C>?8;>7--*;/-.<1*5+*>,172,1= ?87!.2=.7>;89*<*><0.1.+.5=@.;-.7D 2.=.;O;;#72?.;<2=N=*27C




=J*-!N=J:AF<=L^KL=JJ=A;@EAL<=J2=DL&GJJ=K

HGF<=FL$FF=FKGJ?=F<9>eJ <9KK=A?=FKLaF<A?J=;@=J

;@A=JLMF<F9;@?=>J9?LOAJ< M;@AEO=DLO=AL=F&GFL=PL NGF$F>GJE9LAGF .HGJLMF<0FL=J@9DLMF?Ra@D=F1=JDaKK

DA;@C=ALMF<BGMJF9DAKLAK;@=&GEH=L=FR MF9:@aF?A?NGF OAJLK;@9>LDA;@=F'G::QKMF<"=K;@a>LKEG<=DD=F  *-! =JA;@L= 'AN= =JA;@L=JKL9LLMF? -=HGJL9?=FMF< GCME=FL9LAGF=F9MK9DD=F/=AD=F<=J J<=<GCME=FLA=

J=F<A=!a<=F 9F<=F=F<9K2=DL?=K;@=@=F@aF?L  =JM>LJ9?FKHJM;@KNGDD=2=DL -=AK=F C=AF=:MFL=F 2=J:=>9@JL=FK9EL'G;C9F?=:GL=F 

:)3<1;+0-:=<B-6 

=JDA;C9M><A=?9FR=2=DL  *@F=M>HJ=AKMF<!9@JLKH=K=F 




'40' '.6'0? '40(14/#6+105#7(64#)#.57#.+6C65/'4-/#.

G5<O//.7=52,1;.,1=52,1.8>;7*52<=77.74O77.7 @2;72,1=7>;"1.6.7*7-.;<+.1*7-.57@2; +.1*7-.57P+.;1*>9=*>,1"1.6.7-2.6*7,1 .27.64866.;C2.55.7!.7-.;C><9.;;20@N;.7D

,.+")&,/-".+&(  ,.."/-,+!"+0&+"(&+$

+JG?J9EENA=D>9DLAKL9MLGE9LAK;@(=AFMF?KNA=D>9DL  <9KAKL=AF=G>L?=aMZ=JL=FF9@E= $;@O9?=A@JRM OA<=JKHJ=;@=F =FFA;@9J:=AL=AF@AF9 =AF=E '9F<EALMFRa@DA?=F!=JFK=@C9FaD=F 9:=J=AF=J=AF

RA?=FHM:DARA=JL=F(=AFMF? !=JFK=@?=:e@J=F?A:L=K @A=JFA;@L KL9LL<=KK=F?A:L=K=AF==J<Je;C=F<= :@aF?A?C=ALNGF<=J+9JL=A=AF=JK=ALKMF<NGE&GE

E=JR9F<=J=JK=ALK +-AKLEAL<=JFR9@DK=AF=J 2=J:=MFL=J:J=;@MF?=FFaEDA;@<MJ;@MF<<MJ;@ CGEE=JRA=DDMF<AFK=AF=J$F>GJE9LAGF<MJ;@MF< <MJ;@?D=A;@?=K;@9DL=L )9LeJDA;@KGDDL=E9FKA;@ FA;@LEAL+-N=J?D=A;@=F 9:=J=AF=KR=A?L<A=K= .LJMCLMJ?9FR<=MLDA;@2G<9K!=JFK=@=FFA;@L<=J ^>>=FLDA;@C=AL?=@dJL AKL<A=^>>=FLDA;@C=AL9M;@<9K '=LRL= <=EKA;@<9K!=JFK=@=FN=JH>DA;@L=L>e@DL  .G?=K=@=F=JD=:=A;@9MK<=JAKL9FRB=<=d>>=FLDA

;@==:9LL=e:=J<=F*-!9M;@9DKOG@DLM=F< 0FK=J +M:DACME:JAF?LKA;@=AF 0F<A;@>AF<= =K@9L<9RM 9M;@B=<=K-=;@L 0E?=C=@JLEMKKE9F9:=JK9?=F 9KCJALAKA=J=F<=+M:DACMEK;@=AFLE9F;@E9DRMN=J

?=KK=F <9KK,M9DALaLA@J=F+J=AK@9L MF<=KK;@=AFL 9M;@RMN=J?=KK=F <9KKNA=D=KNGF<=E O9KAE*-! RMK=@=FAKL AF=AF=ECGEE=JRA=DD=F.=F<=JFA= ?=R=A?LO=J<=FOeJ<= 2a@J=F<A;@<9KK;@J=A:=  9J:=AL=A;@9F=AF=JGCME=FL9LAGFe:=J@JAKL=FAF @AF9 9KAKL=AFKH9FF=F<=K/@=E9 9:=JA;@?D9M

:=FA;@L <9KKA;@=K9DK&GJJ=KHGF<=FLAF>eJ=AF=F CGEE=JRA=DD=F.=F<=Je:=J@9MHLG<=JAF<A=K=J 'aF?=:=@9F<=DFCdFFL=G<=J<eJ>L= 0F<A;@?D9M:=



9M;@ <9KKA;@9DK&GJJ=KHGF<=FLAF:=A=AF=ECGE

E=JRA=DD=F.=F<=JE9F;@E9D?=ROMF?=FOaJ= /@=

E=FJ=AZ=JAK;@=JRM:=@9F<=DF 9DKA;@OADD &GEE=J

RA=DD=K!=JFK=@=F@=AZLK=@JG>L <9KK$F>GJE9LAGF=F @AFL=J EGLAGF=FRMJe;CO=A;@=F 9KKA=@LE9FNGJ 9DD=E:=A<=J&9L9KLJGH@=F:=JA;@L=JKL9LLMF? )9LeJ

DA;@O=AZ9M;@A;@e:=J<A=&J9>L<=J EGLAGFAE!=JF

K=@=F=K;@=A<MF<A;@:AF9M;@EAL'=A:MF<.==D= -=HGJL=JAF 9:=J9DKd>>=FLDA;@ J=;@LDA;@=%GMJF9DAKLAF KL=@=A;@FA;@LMFL=J<=EJM;C (=FK;@=F <A=?=J9

<=9MK<=F/JeEE=JF?=RG?=FOGJ<=FKAF< RMAFL=J

NA=O=F O=AD<=J&GFCMJJ=FL=AFKGD;@=K$FL=JNA=O @9:=FCdFFL= =F2=LL:=O=J:<=K1GQ=MJAKEMKKGD

D=FMF<OGDD=FOAJ9M;@FA;@L?=OAFF=F .L9LL<=KK=F KGDD=FMF<CdFF=FOAJMFK9M><9KCGFR=FLJA=J=F O9K <A=^>>=FLDA;@C=ALRM-=;@LMFL=J$F>GJE9LAGFN=JKL=@L !9CL=F  AFGJ<FMF? F9DQK= DKd>>=FLDA;@ J=;@LDA;@= %GMJF9DAKLAF@9LL=A;@<A=(d?DA;@C=AL F9;@<=J9CLM

=DD=F J<:=:=F:=JA;@L=JKL9LLMF?AF.A;@M9F=AF=F #AFL=J?JMF<:=JA;@LRME9;@=F AF<=EA;@<9K=:=F NGF MF<<=F0E?9F?<=J+GDALAC<9EALEAL B=F=ENGFN=J?DA;@=F@9:= #aLL=A;@=AF=.=F

<=>Da;@=>eJKGD;@=AF=F=JA;@LAF=AF=ECGEE=JRA=D

D=F.=F<=J9M;@:=CGEE=F DKd>>=FLDA;@ J=;@LDA;@=%GMJF9DAKL$FF=FCdFF=FOAJ FA;@LFMJ/@=E=F9F<=JK:=@9F<=DF OAJ:=@9F<=DF e:=J@9MHL9M;@/@=E=F <A=E9F;@=AF=ECGEE=JRA

=DD=F.=F<=JRMKH=JJA?OaJ=F M;@OAJOAKK=F ?=F9M >eJO=D;@=/@=E=FKA;@<9K+M:DACME=@=J


   ='4#06914670)    =.1$#.''452'-6+8' AFL=J=KKA=JL OAJOAKK=F?=F9M EALO=D;@=JJLNGF "=K;@A;@L=FE9F,MGL=E9;@=FC9FF OAJ@9:=F9:=J ?D=A;@R=ALA?9M;@=AF=$F>GJE9LAGFKH>DA;@L  AFKL9JC=K /@=E99:RM@9F<=DF AKLD=A;@L MF?D=A;@K;@O=J=JAKL =K =AFKH=JJA?=K/@=E9?MLRMN=JEALL=DF .GC9FFKA;@ :=AKHA=DKO=AK= 0 =JA;@L=JKL9LLMF?FA;@L9M><9KHD9

C9LAN=FHJ9F?=JFNGF@9D:CMJAGK=FF=M=F-A;@LDAFA=F :=K;@JaFC=F KA=EMKKCGFKL9FLK=AFMF<KA=EMKK<=F .=@=J$FF=FN=JEALL=DF O9K<A=K=$F>GJE9LAGF=F>eJKA= :=<=ML=F 9KAKL9M;@<9K#9MHL9J?ME=FL O=FF<=J *-!?=>J9?LOAJ< O9JME=JKA;@&GJJ=KHGF<=FL$FF=F D=AKL=L2=AD9M;@MZ=FHGDALAC<9FF9E:=KL=FN=JEAL

L=DLOAJ< O=FF<9K2AKK=Fe:=J<=FF9LAGF9D=F&GF

L=PLNGJ@9F<=FAKL !eJ<9KdKL=JJ=A;@AK;@=+M:DACME OAJ<<9K=AF=G<=J9F<=J=/@=E99F<=JK9M>:=J=AL=L O=J<=F9DK>eJ<9K<=MLK;@= OAJK=LR=F9F<=J=AF?= NGJ9MK KHA=D=F9M>9F<=J=K9F DKKLM<A=JL=GDE=L

K;@=JAFOMJ<=A;@<9J9M>LJ9AFA=JL RA=D?JMHH=FKH=RA

>AK;@RM9J:=AL=F )A;@LK9F<=J=KAKLAE"JMF<=?=FGE

E=F<=J=JM>=AF=K J&GJJ=KHGF<=FL=F AF  DK&GJJ=KHGF<=FL$FF=FKAF<OAJ9:=J9M;@=AF*-! AE&D=AF=F <=FFOAJ?=@dJ=FKGRMK9?=F9DD=FMFK=

J=F:L=ADMF?=F <=E!=JFK=@=F <=E-9<AGMF<<=F '9F<=KKLM<AGK %GMJF9DAKLAK;@=:?=@G:=F@=ALAKL <9:=A>=@D9E+D9LR0FK=J=JM>AKL <A='aF<=J AF <=F=FOAJ9J:=AL=F RMN=JEALL=DF 9KCdFF=FOAJAF <=J!GJELMF <A=<9K+M:DACME>eJ?=Od@FDA;@EAL <=EJ:=ALK:AD<=AF=J&GJJ=KHGF<=FLAFMF<=AF=K&GJ

J=KHGF<=FL=F?D=A;@K=LRLEAL=AF=J'AN= F9DQK=AF

<=J17;F;?;>6G<=J=AF=E=JA;@LAF<=F^D8G@= <AGD@3>7@ /9LKa;@DA;@9J:=AL=FOAJ9:=J9M;@>eJ<=F *BADF <A="G>FGD >eJ$393L;@7 <A=)7>;9;A@VCMJR>eJ 9DD=:L=ADMF?=F<=K#9MK=K  $;@@9:= =AF=.=JA=e:=J<=FDDL9?AF+=CAF?>eJ <A=.=F<MF?7D4EFL7;F?=E9;@L AF<=JOAJ:=AKHA=DK

O=AK=<=FDDL9?=AF=J/9PA>9@J=JAFMF<<A=5M:=J=A

LMF?=AF=J+=CAF?=FL=?=<J=@L@9:=F 2=FFB=E9F< E=AFL KGD;@="=K;@A;@L=F=FLKHJa;@=FFA;@L<=E M>LJ9?<=K*-!G<=J<=JJ:=AL=AF=J&GJJ=KHGF<=F

LAF EMKKA;@OA<=JKHJ=;@=F "=F9MEALKGD;@=F "=K;@A;@L=FC9FFE9FFaEDA;@<9K$FL=J=KK=:=A =AF=E+M:DACMEKK=?E=FL <9KKA;@9FKGFKL=FO9@J

K;@=AFDA;@FA;@L>eJ<9KMKD9F<AFL=J=KKA=JL O=;C=F  (d?DA;@=JO=AK=OAJ<B=E9F< <=J<A=/9PA>9@J=JAF KH9FF=F<?=>MF<=F@9L E=@Je:=J<9K'9F<OAKK=F OGDD=F 9M;@e:=JK=AF=+GDALAC  =F$F>GJE9LAGFK9M>LJ9? <=FOAJAF<=FMZ=FKL=DD=F =J>eDD=F 9M><A=CD9KKAK;@=F)9;@JA;@L=FK=F<MF?=F RM:=K;@JaFC=F OaJ=N=JCeJRLMF<=AF=1=J?=M<MF? NGF-=KKGMJ;=F )9LeJDA;@KAF<<A=17;F;?;>6MF< <9K$;FF39E<AGD@3>>eJMFK9DD=<A=&dFA?K<AKRAHDAF  !eJ^RM9J:=AL=FAKL>eJMFK9DD==AF=MKR=A;@FMF?  &JALAC=JF<=KXG:=J>Da;@DA;@=FS!=JFK=@=FKK=A9:=J =AF=KN=JJ9L=F.GE9F;@=-=HGJL9?= <A=A;@>eJ<A= X ^D8G@=<AGD@3>7?=E9;@L@9:= O9JFMJEd?DA;@  O=AD<9K!=JFK=@=F<A=&GKL=F>eJ<A=A=FKLJ=AK= ?=LJ9?=F@9L 

,.+")&,/-".+&(




'.6,1740#.+5/75? 4+'06+'470)+0'+0'4).1$#.+5+'46'0 '.6

I3-2>7/2<./<)?1+81D?809<7+>398/8?8.32</ L,/<73>>6?81=>/66/8.3/D/8><+6//<+?=09<./<?81 .+<=98./<832</?=A+26?8.32</8>/<:</>+>398E

.+6<//)". ")0',1.+)

A=?DG:9DAKA=JL=2=DLHJaK=FLA=JLKA;@RM?aF?DA;@=J V9:=J9M;@MFe:=JK;@9M:9J=J<=FFB= )9LAGF9D= $<=FLALaL=F <A=FG;@<9KN=J?9F?=F=%9@J@MF<=JL ?=HJa?L@9LL=F O=J<=FAF!J9?=?=KL=DDL F=M= LJ9FK

F9LAGF9D=$<=FLALaL=F=FLKL=@=FV<A=D7EBG4>;53AKL FA;@LE=@J<MJ;@F9LAGF9D="J=FR=F KGF<=JFAEE=J E=@J<MJ;@?J=FRe:=JK;@J=AL=F<= AFL=JF9LAGF9D= .LJMCLMJ=FMF< FLOA;CDMF?=F:=KLAEEL #AFL=J <=F=FFA;@LK=DL=FH9JLACMDaJ=OAJLK;@9>LDA;@=MF< HGDALAK;@=$FL=J=KK=FOAJCK9EKAF< <A=>eJ<=F'9A=F C9MEFG;@O9@JRMF=@E=FKAF< A=eJ?=J$FF=F <A= .M:B=CL=HGDALAK;@=J FLK;@=A<MF?=FAF=AF=J=EG

CJ9LA= KL=@=FNGJ=AF=Je:=JOaDLA?=F<=F MF<A>>=J=F

RA=JL=F!DMLNGF$F>GJE9LAGF=F AF<=JKA=KA;@AEE=J K;@O=J=JGJA=FLA=J=FCdFF=F $EE=Jd>L=JO=J<=FKA= AFHGDALAK;@=MF<OAJLK;@9>LDA;@=(9JC=LAF?KLJ9L=?A=F =AF:=RG?=F <A=KA=K=D:KLC9MEFG;@=JC=FF=FMF< K;@GF?9JFA;@LE=@JD=FC=FCdFF=F $F<=J?DG:9DA

KA=JL=FMF<K;@=AF:9J9DD=FRM?aF?DA;@=F2=DLJAKCA=

J=F<A=AE.AFF=<=JM>CDaJMF?EeF<A?=FeJ?=J$F

F=F A@J=(eF<A?C=ALRMN=JDA=J=F 



A=$F>GJE9LAGFK>DML<JG@LFA;@LRMJ.LaJC= KGF<=JF RMJ=<JG@MF?>eJ<A==EGCJ9LA=RMO=J<=F M;@ <A=^>>=FLDA;@C=ALK=D:KL AF<=J<A=(=<A=F9?A=J=F  OAJ<AEE=JKLaJC=JNGFHJAN9L=F$FL=J=KK=F?=HJa?L VO9KA@JH=J<=>AFALAGF=E<A=!a@A?C=ALFAEEL MF=A

?=FFeLRA?9M>CDaJ=F<MF<GJA=FLA=J=F<RMOAJC=F 9K.7>F<AGD@3>N=JKL=@LKA;@9DKAFL=JF9LAGF9D=K -=HGJL9?= (9?9RAFAF<A=K=E.AFF=9DK=AFd>>=FL

DA;@ J=;@LDA;@=K(=<AME <9KAFL=JF9LAGF9D= FLOA;C

DMF?=FAE'A;@L=<=J"DG:9DAKA=JMF?9M>=AF=HJG>=KKA

GF=DD= KLJMCLMJA=JL=2=AK=9MKOa@DLMF<R=A?L #AF

L=J?JeF<=9MKD=M;@L=LMF<5MK9EE=F@aF?=KA;@L:9J E9;@L <A=9M><A=?=K=DDK;@9>LDA;@= FLOA;CDMF?AF ^KL=JJ=A;@RMJe;COAJC=F DKA=FKLD=AKLMF?9E =<eJ>FAK<=JEeF<A?=FeJ?=J$FF=F KA;@AF<=J?DG

:9DAKA=JL=F2=DLRMGJA=FLA=J=F ME<=J=F FLOA;CDMF? 9CLANEAL?=KL9DL=FRMCdFF=F  

.+6<//)".


&-4<27=:6)4

.7>F<AGD@3>V<9K*-! MKD9F<KE9?9RAF(ALLOG;@  0@J *-! AF>GJ

EA=JLe:=J J=A?FAKK=9MK9DD=J2=DL "=:GL=FOAJ<*JA=FLA=JMF?AF<=J2=DL

HGDALAC?=F9MKGOA=<9KM>R=A?=FNGF5MK9EE=F@aF?=FMF<<9K=D=M;@

L=F <=J G>LE9DK MF<MJ;@KA;@LA?=F #AFL=J?JeF<=  MK>e@JDA;@= -=HGJL9?=F  $FL=JNA=OKMF<.LM<AG?aKL=AF>GJEA=J=Fe:=JHGDALAK;@=MF<?=K=DDK;@9>LDA;@= FLOA;CDMF?=F 5M?=?=:=F=FFDaKK=FN=JDaKKL<9K.7>F<AGD@3>LJ9<ALAGF=DD= 2=?= MF< R=A?L <A= :=KL=F  G>L E=@JL=ADA?= -=HGJL9?=F MF< GCME=FL9LAG

F=F9MK9DD=J2=DL $E.GEE=J

CGFFL=<A=NA=JL=ADA?= -=HGJL9?=7D 3EFDA@3GFe:=J<A= JD=:FAKK=<=KJ=AK=F<=F.L9JCG;@K.L=>9F"9L=K?=R=A?L O=J<=F  F<=<=K%9@J=K:J9;@L=<9K.7>F<AGD@3>7JFD3<=F9M>K=@=F=JJ=?=F

<=F AFL=JF9LAGF9DHJ=AK?=CJdFL=FGCME=FL9J>ADE+3J;FAF:73D=*;67<=K 9E=JAC9FAK;@=F-=?AKK=MJKD=P"A:F=Qe:=J<A=2A=<=J=AF>e@JMF?<=J!GDL=J AEX"D;799797@67@+7DDAD;E?GES =J!ADE<MJ;@D=M;@L=L<=F!9DD<=K9>?@9

FAK;@=F/9PA>9@J=JKAD9O9J <=J=AF=K)9;@EALL9?KNGF0. AF@=AL=F>=KL?=

FGEE=FOMJ<=MF<>eF>/9?=KHaL=J<=FK;@O=J=F1=JD=LRMF?=F <A=A@EAE "=>aF?FAK<MJ;@0. .GD<9L$FF=FRM?=>e?LOMJ<=F =JD9? 

   =.1$#.''452'-6+8'    ='4#06914670)

+' '.670&9+4

</7./'/6>/8'9<53817+8=/+>2G.95F67 $F N=J9DL=L=F (AF=F  JA=KA?=F !9:JAC=F  NGJKAFL>DMLDA;@=F 2=J>L=F MF< :=A ?JdZ=FO9@FKAFFA?=F9MHJGB=CL=FN=J<AF?LKA;@<=J(=FK;@FG;@9DKJ

:=AL=J AE CD9KKAK;@=F .AFF  =J !ADE NGF (A;@9=D "D9OG??=J =JRa@DL NGF <A=K=FD=LRL=F9KLAGF=F<=JCdJH=JDA;@=FJ:=AL e:=J<A="=O9DL <A=<A=

K= !GJE <=J J:=AL <=E (=FK;@=F 9FLML  MF< e:=J <9K  O9K =J N=JDA=JL  O=FF=K<A=K=J:=ALFA;@LE=@J?A:L MK?=KLJ9@DLOMJ<=<=J!ADE9E %MFA

AF<=J-=A@=6A= 8;>? 

! !-41/176-6,-:&-4<

A=-AL=FMF<!=KL=<=JMFL=JK;@A=<DA;@KL=F-=DA?AGF=FKL=@=FAE(ALL=DHMFCL<A=K=J.=F<=J=A@=.9EKL9?   0@J *-!  $F<=JAE<=MLK;@=F.HJ9;@J9ME=AFE9DA?=F.=F<MF?)7>;9;A@7@67D.7>F?=@L=KME"=

<9FC=F .HAJALM9DALaLMF<JaM;@=AF<=F?JGZ=FFA;@L;@JAKLDA;@=F-=DA?AGF=FV=AF=JK=ALKME1=JCeF<A?MF? >eJ<A=B=O=ADA?=F"DaM:A?=F F<=J=JK=ALK KGJ GJAKHH=D *-! -=KKGJLD=AL=JAF>3G47@EF:7?7@ MEX @ 8AD?3F;A@8_D3>>7*7:7D @@7@793>A4E;79>3G47@A67DI3EE;79>3G47@S 

J=A;@L=<A=9F<:J=AL=<=J/@=E=FNGF";@67D@;?G66:;E?GEe:=J<A=!J9?= O9K=A?=FLDA;@=AE5:7D7E EE7@AKL :AK@AFRM=AF=E+GJLJaL<=K-9??9= .L9JK$GF343DG=3 <=JAFK=AF=J#=AE9L9DK+G=L<=J"=J=;@LA?

C=ALN=J=@JLOAJ< 

G;<-::-1+0 );!-+0<)=.&-1*41+03-1<

-MF<

(a<;@=FO=J<=FLa?DA;@9M><=J?9FR=F2=DLN=JKLeEE=DL 2=DLO=AL=JD=A<=F (AG (a<;@=F MF<!J9M=F=AF==PLJ=E=!GJENGFK=PM=DD=J"=O9DL <A=G>LN=J@9JEDGK=F<XO=A:DA;@==K;@F=A<MF?S?=

F9FFLOAJ< &DALGJAKN=JKLeEE=DMF?=FO=J<=FAF 9>JAC9FAK;@=F.L99L=FRME=AKLMFL=JHJAEALANKL=FMF<@Q

?A=FAK;@MFRMEML:9J=F=<AF?MF?=F<MJ;@?=>e@JL 1A=D=(a<;@=Fe:=JD=:=F<A=K=+JGR=<MJFA;@L (9JAGF (9Q=J #G@<9@D@9LAF/G?G )A?=JA9 .M<9FMF<\L@AGHA=F<A=?=FAL9D=F1=JKLeEE=DMF?KHJ9CLAC=FMF<<=F &9EH>?=?=F<A=K=/GJLMJ<GCME=FLA=JL #'XEF7DD7;5:R=A?L=<=F!ADE9E !=:JM9J

 




75.#0&5$'4+%*6'456#6670) '4 7(64#)#.5 *#0%'

I7./+60+661/<3/>/?=6+8.=3809<7+>39837/<8=/2/8 +?-2D?/38/7S<1/<=/<@3-/0S<9=79:963>88/88 /38/7+6>/8.397./=8>/<8+>398+6/82+>7+8.+= /387+6?056N<?81*1/8+88>E

+!."/#"&#".  (01"))". &"+/01/)+!

29JME<A=.HJ9;@=<=Kd>>=FLDA;@ J=;@LDA;@=F!=JFK=

@=FK9M;@=AF$<AGE<=K$FL=JF9LAGF9D=FH>D=?=FKGDD

L= K9FLOGJL=L9M>=AF=:J=AL=FOAJCK9E=+9J9<GPA= <=J"DG:9DAKA=JMF? GJL OGA@J=QF9EAC<=J FL

?J=FRMF?9DKMF>J=AOADDA?=#GJARGFL=JO=AL=JMF?=J>9@

J=FOAJ< >GD?L<A=K=J J>9@JMF?=AF=-=?AGF9DAKA=JMF? <=J+=JKH=CLAN=F =AF=2=DL>DM;@LAF9F?=KL9EEL= $FL=JA=MJK<=JF9LAGF9D=F.=D:KL:=@9MHLMF? <=K KGRA9D=F-=KK=FLAE=FLK <=JCMDLMJ=DD=F:K;@GLLMF?  2A=AEE=JKGD;@=-=>D=P=E=<A9D?=KHA=?=DLO=J<=F V=LO9<MJ;@=AF=X1=JdKL=JJ=A;@=JMF?<=K+JG

?J9EEKSG<=J<MJ;@-=?J=KKAGF=FAF<9KXHJAN9LAKA=J

L=S FL=JL9AFE=FL^>>=FLDA;@ J=;@LDA;@=MKD9F<K:=

JA;@L=JKL9LLMF?@9L=AF=F9F<=J=FM>LJ9? 9KGE>3@6ED7EEADF<=K*-!:=?J=A>LKA;@FA;@L9DK +JGH9?9F<9:eJG<=J"DG:9DAKA=JMF? 1A=DE=@JRa@DL <A=D=A<=FK;@9>LKDGK=@JGFACNGF"DG:9DAKA=JMF?K

H@aFGE=F=F=AFK;@DA=ZDA;@A@J=J&JAK=FRME/9?=K

?=K;@a>L (AL=AF=E+9FGHLACME<=J&GF>DACL= &9L9K

LJGH@=FMF<&MJAGK9<A=K=J2=DLKAF<KA=9DD=F>9DDKRM ADDMKLJA=J=F 9:=JC9MERM=JCDaJ=F 9@=JOAJ<F=:=F <=E+>DA;@LHJG?J9EE<=K J=A?FAK@9>L=F9M;@N=J

KM;@L "DG:9DAKA=JMF?9DK+JGR=KKRMN=J9FK;@9MDA

;@=F <=JKA;@?D=A;@=JE9Z=FAF<=J!=JF=OA=AF@=A

EAK;@=F"=>AD<=F9:KHA=D=FC9FF =AKHA=DKO=AK=EAL =JA;@L=Fe:=J&DAE9N=JaF<=JMF? )9@JMF?KEALL=D

CF9HH@=AL O=DLHGDALAK;@= FLOA;CDMF?=F M;@EAL 'AN= F9DQK=FAE.LM<AG<=J17;F;?;>6 $E%9@J CGFFL=F9M><A=K=EO=AL=F!=D<CD=AF= L9H

H=FRMJe;C?=D=?LO=J<=F =J=F?JdZL=O9J<A= Jd>>

FMF?=AF=K&) "ADD7EBA@67@F @@7@4_DAEAF+=CAF?  

<=J(9;@LR=FLJ9D==AF=KF=M=FX"DG:9D+D9Q=JKS  KA=FAFK?=K9EL 9:=J9M;@>JAC9KAF<@aM>A?=J9DK >Je@=JAFKDA;C>=D<<=J=JA;@L=JKL9LLMF??=Je;CLV 9DKKH=CL==AF=K@=J9M><aEE=JF<=FXHGKL9E=JAC9

FAK;@=FSG<=J9M;@XHGKL=MJGHaAK;@=FS5=AL9DL=JK  LJGLR9DD=FM?=FE=JCK9M><A=NGDDRG?=F=29;@9:Dd

K=AF+9JAKMF<<A=:=NGJKL=@=F<=AF29K@AF?LGF  A=9DD=F>9DDKX?=>e@DL=SAFL=JF9LAGF9D=#GJARGFL=J

O=AL=JMF?<=K9CLM=DD=F$F>GJE9LAGFK9F?=:GL=KDA=Z= KA;@KL9LAKLAK;@:=D=?=F  AKL<=JFL=AD9FX2=DL

HGDALACS<=J17;F;?;>6ME  0@JAE1=J?D=A;@ RME1GJB9@JME 9M> +JGR=FL?=O9;@K=F,M=D

D=$76;3.3F5: $EK=D:=F5=ALJ9MEAKL<A=59@D<=J =ALJa?=9MK&GJJ=KHGF<=FL=F:eJGKME  B=F= <=KMKD9F<K9FL=ADK9F1; .=F<MF?=FME +JG

R=FL?=KLA=?=F,M=DD=*-! 5M<=F+9J9<GPA=F<=K *-!Ra@DL<9:=A <9KK<A=K=JE=JCDA;@=5MO9;@K9F J:=ALNGF=AF=EE=JCDA;@J=<MRA=JL=F+=JKGF9DKL9F< <=JMKD9F<KJ=<9CLAGF:=OaDLA?LO=J<=FEMKKL=  =Jd>>=FLDA;@ J=;@LDA;@=(=@JO=JLKGD;@=JA=FKLD=AK

LMF?=FAKLEAL-=A;@O=AL=FG<=J(9JCL9FL=AD=FFA;@L 9<aIM9LRM:=K;@J=A:=F  JKL=DDLKA;@9M;@FA;@L=AF  O=FFKA;@<A=X2=DL =JA;@L=JKL9LLMF?S9M>:MFL= MK>De?=AFK FLD=?=F=G<=J?9J PGLAK;@= :=K;@JaFCL $@JX@=@J=KS5A=DOaJ==KNA=DE=@J <MJ;@ <A=1=J9FK;@9MDA;@MF?LJ9FKF9LAGF9D=J ?=K9EL=MJG

HaAK;@=JG<=J?DG:9D=J$FL=J<=H=F<=FR=F<9K>=JF= G<=J>J=E<=MKD9F<9M;@9DKX2=DLAFF=FJ9MES +=L=J.DGL=J<ABC=J>9@J:9JRME9;@=F  $E$<=9D>9DD?=JA=L=MKD9F<KAF>GJE9LAGFAE!=JFK=@=F VEAL9DD=FN=J>e?:9J=F/=;@FAC=FMF<&MFKL?JA>>=F<=K :AD<@9>L=F1=J?Fe?=FKV9M;@RM=AF=EeJ?=JK=JNA;= >eJ&GKEGHGDAL$FF=F $F=AF=E9DL=F$<AGE<=K$FL=JF9LA

GF9D=F@9LE9F<9K=AFE9DXM>CDaJMF?S?=F9FFL  









+!."/#"&#".


&-4<%-:51<<4-: 1-7::-;876,-6<66-6,-;!

0E<9>eJRMKGJ?=F <9KK$F>GJE9LAGF=Fe:=J9DD=OA;@LA?=FAFL=JF9LAGF9D=F J=A?FAKK=<=F2=?RMEdKL=JJ=A

;@AK;@=F+M:DACME>AF<=F MFL=J@aDL<=J*-!O=DLO=ALeJGKMF<MZ=FKL=DD=FEAL=AF=EBa@JDA;@=FM>O9F< NGFE=@J9DK>eF>(AG  MJG  *-! &GJJ=KHGF<=FL$FF=FO9J=F

AF 'aF<=JFMFL=JO=?K =J*-!MFL=J@aDL MZ=FKL=DD=F <A= AFK?=K9EL  -9<AG MF<!=JFK=@ =ALJa?=AF=AF=J'aF?=NGFCF9HH

(AFML=FDA=>=JL=F 

OMJ<= <9K&) _DA:;@3AF+=CAF?=Jd>>F=L  *-! &GJJ=KHGF<=FL$FF=F AF 9DD=J 2=DL KGJ?=F <9>eJ  <9KK .=@=J$FF=F MF< #dJ=J$FF=F <=J *-! +JG?J9EE= K;@F=DD  CGJJ=CL MF< AF>GJE9LAN NGF .;@9MHDaLR=F <=K "=K;@=@=FK 9MZ=J@9D: <=J =A?=F=F '9F<=K?J=FR=F 9MK>e@JDA;@MF<RMN=JDaKKA?AF>GJEA=JLO=J<=F A=1=J9FLOGJLMF?<=J&GJJ=KHGF<=FL$FF=FAKL?JGZ =J>GJ<=JL !D=PA:ADALaLMF<J9K;@=-=9CLAGF=F 

</7./'/6>/8?<7++6638-6?=3@/G.95F67 #AFL=J<A=LGMJAKLAK;@=F&MDAKK=F:DA;CL-GD9F<2=@9HEALK=AF=E!ADEGD?3 3>>;@5>GE;H7 *CLG:=J

 *-!  9:=AKH9JL=JC=AF=K<=J:JAK9FL=F/@=

E=F9MK <A=MFL=J9F<=J=E9M;@RM<=FBeF?KL=F0FJM@=FAF<A=K=E'9F< ?=>e@JL@9:=F =J"J9R=J!ADE=E9;@=J@9LFG;@NGJ<=FM>KLaF<=F<9K'9F< :=J=AKL (ALN=JKL=;CL=J&9E=J9:DA;CL==J>eJK=AF=GCME=FL9LAGF@AFL=J<A= =PGLAK;@=&MDAKK=MF<:=JA;@L=LAF:JAK9FL=FAD<=JFNGF(dF;@=F  P -=:=D

D=FMF<!De;@L=F<=F 

   ='4#06914670)    =.1$#.''452'-6+8'

'.6 '46'+/

73=5-6<)<176=6,1;3=;;176B=*:1;)6<-66<?1+34=6/-6  #-=.41;+0-):13)<=:-6

J=FF=F<=<aFAK;@=GLK;@9>L=F OeL=F<=J(G:9M><=F.LJ9Z=FAF/=@=J9F  9E9KCMKMF<&9AJG GQCGLL?=?=F<aFAK;@=K%G?@MJLMF<9F<=J==DAC9L=K

K=F A=OeL=F<=F+JGL=KL=F9;@<=J1=Jd>>=FLDA;@MF?NGF$A:3??76 "3D; =3FGD7@AF=AF=J<aFAK;@=F5=ALMF?KAF<FG;@<=MLDA;@AF JAFF=JMF? =J<a

FAK;@=!ADE=E9;@=J&9JKL=F&B9=J@9LROdD>'aF<=J:=J=AKL ME0JK9;@=FMF< MKOAJCMF?=F<=KM>JM@JKRM9F9DQKA=J=F -=KMDL9LO9J<A=AF):</-67;;-6 ?=R=A?L=GCME=FL9LAGF+7G8>;E5:7"3D;=3FGD7@  5MNGJ:9LD9JAKK9.L9<D=JAF4-*-6;):<<=F-=?AKK=MJ&9JKL=F&B9=JMF<9JD9 EAF99?@9B9LANGF<=J E>3?;E5:7@>3G47@E97?7;@E5:38FRM=AF=JAKCMK

KAGFAFK.LM<AG 

2<?810S<K"/.+5>/?<38 !eJA@J=F=ALJ9?X=A>A9;E5:7E)7;E7@;?E_6>;5:7@8D;=3AE-9@E=F<=K-=AK=E9?9RAFK?4;7@F7.GFFL9?   0@J ^=J@A=DL^-=<9CL=MJAF0JKMD9MJC=JL<=FE;9@3+&,)I3D6 =JE;9@3+&,)I3D6AKL =AF(=<A=FHJ=AK>eJ@=J9MKJ9?=F<=-=AK=DAL=J9LMJMF<-=AK=:=ALJa?=MF<OAJ<K=AL

Ba@JDA;@NGED7EB75F @EF;FGF8_D @F79D3F;H7@+AGD;E?GEG@6@FI;5=>G@9N=J?=:=F 0FL=JKLeLRLOAJ<E;9@3+&,)NGF<=JXEF7DD7; 5:;E5:7@ @FI;5=>G@9ELGE3??7@3D47;F  AE %9@J

 9M;@ NGF %3FGD8D7G@67 @F7D@3F;A@3>7 %  MF< <=E #747@E?;@;EF7D;G?




+' '.68'456C0&.+%*/#%*'0,'&'0#)

I/38/.3?73=>=9=-28/66?8.D?16/3-2=9 =9<10N6>31A3/.+=""+.39/38/=23/< D?6+8./2+>=9@3/6/9<</=:98./8>88/8 5+?7/38/=<N?7>./8/=-2/283==/837 ?=6+8.@/<16/3-2=A/3=/=9@3/6 6+>D/38E

.0*10 &"!)".  <.#1+(19"+-,)&0&(

A?=FLDA;@AKLAE!Je@KGEE=J 9DD=K9:?=E9;@L MF<<A= 09M><=E2=?RM=AF=JJLF=M=E1=J>9K

KMF?KN=JLJ9? A=1GDCK9:KLAEEMF?AF$JD9F< <A=AF B=<=E!9DDK=AFEMKK ?A:LRM<A=K=E5=ALHMFCLFG;@ C9ME=AF=ERM<=FC=F 9<JG@L<A=0FAGFK;@GF OA=<=JKLADDRMKL=@=F  +GD=FOADDHDdLRDA;@FA;@LE=@J A=.LAEE=FN=J@aDL

FAKK= OA=KA=<A=(AL?DA=<KKL99L=F>eJ<A=5MCMF>L<=J 09MK?=@9F<=DL@9:=F KLGZ=F<=JF9LAGF9DAKLAK;@=F -=?A=JMF?AF29JK;@9M9M> A=&9R;QFKCA 5OADDAF?= N=JD9F?=F=AFKLaJC=J=K"=OA;@L>eJ+GD=F =AF=K <9K KA;@9MK<=J,M9<J9LOMJR=D<=J=NdDC=JMF?KR9@D =JJ=;@F=LMF<MFL=JE.LJA;@E=@J.LAEE=F=J?A:L =JdKL=JJ=A;@AK;@=MF<=KC9FRD=JMFL=JFAEELF9;@ :KHJ9;@=EAL<=J<=MLK;@=F-9LKHJaKA<=FLK;@9>LAE %MFA=AF=F1=JEALLDMF?KN=JKM;@ 2=K@9D:=J.7;> XEF7DD7;5:@;5:F7GFE5:>3@6E7;=7;@$;EEFD3G7@ 7DD797QG@6I7;>7E6;7(G36D3FIGDL7> AD?7>E7; @7DL7;FLG?7;97@7@-ADF7;>7D8G@67@E;5:63@@347D @;5:F63D3G8H7DEF7;8F:347 K9?LD>J=<"MK=F:9M=J NGJ<=J:J=AK=AE$AD97@<AGD@3>AF^ MZ=J<=E @9L^KL=JJ=A;@E=@J:?=GJ<F=L=AEGDAB[;E5:7@ '3D>3?7@FRM?=KL9F<=F:=CGEE=F  !Je@B9@J =J1GJO9@DC9EH><=J=EGCJ9L=FAF <=F0.FAEELC=AF F<= #AFMF<@=J?=@L=KROA

K;@=F9J9;C*:9E9MF<#ADD9JQDAFLGF E (9A KL=@=F)GJL@9JGDAF9MF<$F<A9F99M><=E29@DC9

D=F<=J MF<OA=<=JKA=@L<9K J?=:FAKF9;@=AF=E +9LL9MK *:9E9?=OAFFL<=F=AF=FMF<=KKL99L  DAFLGF<=F9F<=J=F  G;@=KK;@=AFLFMJKG $F2AJCDA;@C=AL@9LKA;@<A= .LAEE=FO99?=AFROAK;@=FMFOA<=JJM>DA;@9MK?=JA;@

L=L 5M?MFKL=F9J9;C*:9E9K =JE=JAC9 &GJJ=K



HGF<=FL<=K*-!:=JA;@L=L<9KAF<=F!Je@K=F<MF?=F <=K-9<AGK C9ME<9KK<A=29@DDGC9D=?=K;@DGKK=F MF<<A= PAL+GDDKMF<=JKL=F#G;@J=;@FMF?=FN=Jd>

>=FLDA;@LKAF<Fe;@L=JF RM?D=A;@9:=J9F?=J=A;@=JL MEK=AF= AFK;@aLRMF? <A=>eJ<A=#dJ=J$FF=F=FL

K;@=A<=F<K=AFC9FF $F<A=K=E!9DD9DKGC=AF+9LL  KGF<=JF<A=1GJ=FLK;@=A<MF?  KEd?=FAE)9;@@AF=AFFA;@LE=@J9DK!MZFGL=F K=AF 9:=J+GDALAC=JK;@DA=ZLKA;@G>L9MKKGD;@=F =L9ADK $FKG>=JFKAF<<A=%GMJF9D=MF<)9;@JA;@L=F 9M>^ ^MF<^-=?AGF9D>eJ#dJ=J$FF=F=AF=AF ^KL=JJ=A;@O9@JK;@=AFDA;@=AFRA?9JLA?=$F>GJE9LAGFK

IM=DD=FA;@LFMJ 9:=J?=J9<=AF<=JMKD9F<K:=JA;@L

=JKL9LLMF? &=AF(=<AMEAKLKGK;@F=DDMF<RM?D=A;@ KGKGJ?>aDLA?OA=<9K&) )36;A &=AF=K@A=JRMD9F<= @9LKGNA=D=&GJJ=KHGF<=FL$FF=F C9ME=AF=KJaMEL <=F"=K;@=@FAKK=FAEMKD9F<N=J?D=A;@KO=AK=KG NA=D+D9LR=AF 0FKLJALLA?K=AF<eJ>L=<9KAF<=F%GMJF9

D=F9M>^  KAKL9:=J=FL?=?=F<=J(=AFMF?E9F;@=J &JALAC=J$FF=F9M;@9M>^RM@dJ=F AF=-=HGJL9?=e:=J<A=@=ACD=+9JD9E=FLKO9@DAE $J9F AF9F9DQLAK;@=K"=KHJa;@RMJ?=?=FOaJLA?=F .ALM9LAGFAF.e<9>JAC9 AF<=J)=DKGF(9F<=D9K=AF=F  =J>=A=JL NA=D=9:=JG@F=J:=AL  KK=F .LJGEMF< #G>>FMF?<9KL=@=F29K@9DL=F.A=NGEBeF?KL=F " "AH>=D <=FLA=>=F-AKK=FAF<=J.;@O=AR=J&GFCGJ

<9FR =EGCJ9LA=1GF<=F5MCMF>LK;@9F;=F&MJL =;CK1GF<=JDAIM=<=K-G:=JL(M?9:= <=J/A:=L

+GDALAC@AF9K <=E#9FK 9EH> AF 9DD=F "9KK=F9F <=J.HALR=<=K]DQKc= +9D9KL=K1GEF=M=F#=JJFAE &J=EDDD=K<9 *<=J>9KL9DD=K O=FFE9F+=JKGF9D  M<?=LMF<+JG<MCLAGFKEALL=DCMJR=AFE9DEAL9F<=

J=Fd>>=FLDA;@ J=;@LDA;@=F.=F<=JFN=J?D=A;@L .;@9D

L=F.A==AF>9;@<9K&) )36;A=AF  

.0*10 &"!)".


G #)7D!-41/176-6,-:&-4<

+3AQ)7>;9;A@7@67D.7>F!=A=JL9?K  V 0@JR=A;@F=L<A=N=JK;@A=

<=F=F2=?=F9;@ 9M><=F=F(=FK;@=F<=F.AFF<=K'=:=FKMF<A@J"De;C KM;@=F .GO=ALOA=Ed?DA;@O=J<=F9ML@=FLAK;@=(MKACMF<"=JaMK;@=N=J

O=F<=L <A=9CMKLAK;@<9K0F9MKKHJ=;@:9J=?=D=:L=JLEGKH@aJ=N=JEALL=DF 

 KL9F< =AF <J=AL=ADA?=J .;@O=JHMFCL MFL=J <=E /AL=D7D H;7>97E;5:F;97 AFF9M><=E+JG?J9EE A=.=F<MF?=F:J9;@L=F=AF= AF>e@JMF?AF<=F#AF

<MAKEMK NGF<=KK=FF>aF?=F:AK@AFRM<=F9CLM=DD=F+J9CLAC=FAEX2MF

<=JD9F<$F<A=FS 

</7./'/6>/8+2</82/3> G.95F67 

(A;@9=D(GGJ=KHGD=EAK;@=MK=AF9F<=JK=LRMF?EAL<=J9E=JAC9FAK;@=F+JaKA<=FLK;@9>LMF<<=E&JA=?AE $J9C OMJ<=

 :=A <=F   ;>?87EFEB;7>7@ ;@ 3@@7E EAL <=JA>67@7@ '3>?7 9MK?=R=A;@F=L  A= =J>GD?

J=A;@KL=GCM9DD=J5=AL=FN=JK=LRL<A=5MK=@=J$FF=F9M;@@=ML=FG;@AF=AF2=;@K=D:9<<=J"=>e@D=  6A= O>?R=A?L=3:D7@:7;F

9E .=HL=E:=J

 

   =.1$#.''452'-6+8'    ='4#06914670)

D4 '.6'0%*#7 '.6'0

)<=:/47*)4D$61>-:;=5

 CGFFL=F R9@DJ=A;@= *-! ,@;H7DEG? +JGB=CL= e:=J O=AL =FL>=JFL= *JL=  O=FA?:=C9FFL=/A=J=MF<OAD<='9F<K;@9>L=F?=R=A?LO=J<=F $F$39;767D $A@9A>7; OMJ<=F <A= OAD<=F '9F<K;@9>L=F <=K !=JF=F *KL=FK AF <A= @=AEA

K;@=F2G@FRAEE=J?=:J9;@L =KOMJ<=e:=J<9K\?QHL=F<=K.;@9C9DK*5:3 =3>7G@F7DG@E:=JA;@L=L <9K+M:DACMEOMJ<=F9;@/9KE9FA=F @E7>3?@67 67D.7>F=FL>e@JLMF<=KOMJ<=FAD<=JMF<"=K;@A;@L=FJMF<ME<=F(AKKAK

KAHHA&>$3@);H7DQ$[5:F;97D$;EE;EE;BB;?=:GL=F 

</7./'/6>/80<35+?8..3/<3>>/'/6>GKR<,36./<

OA<E=L=FKA;@<A=X ^D4;>67DAF=AF=E.;@O=JHMFCL>JAC9 A=-=A@= :=AF@9DL=L=3E>7;E7#[5:7>@67DD?GFQD=G@6G@97@;@%;97D67?[D?EF7@ #3@667D.7>FNGF@JAKLA9FJeK=J AD67D>;@7QA67D7D7@6>AE7.79 !G@97 8D;=3@7D G@6 ;:D D3@9 @35: GDAB3 NGF =LLAF9 -e@D MF<'ADF3 6; GDAB3 Q #3?B76GE3G@66;7>_5:F>;@97NGF-GE9F#=JRG?

6<-:6)<176)4-;74):2)0:)=.;+1-6+-!)<=6,16G &1;;-6)3<=-44

9K @F7D@3F;A@3>7'A>3D<3:D  AKL=AF=O=DLO=AL=!GJK;@MF?KG>>=FKAN=NGF

2AKK=FK;@9>L=J$F

F=F9MK )9LAGF=F ^KL=JJ=A;@K=ALJ9?AKL)$' =AF=$FALA9LAN=NGF!GJK;@MF?K=AF@=AL=F>eF>dKL=J

J=A;@AK;@=J0FAN=JKALaL=FMF<<J=A=J9MZ=JMFAN=JKALaJ=J AFJA;@LMF?=F A=dKL=JJ=A;@AK;@=F/=ADF=@E=J$FF=F K;@AD<=JFJ=?=DEaZA?A@J=OAKK=FK;@9>LDA;@=J:=ALMF<A@J=H=JKdFDA;@=F JD=:FAKK=K=AL=?AFF<=J PH=<ALA

GF9M>E5;7@57 &) 3FMF<AF<=J-9<AGK=F<MF?.;EE7@3=FG7>>AF^(GFL9?:AK!J=AL9?  0@J







G2.B7*624-.;C@.2=.7-202=*5.7%.55.+.<2=C=-2.>;,1<,15*0<4;*/= >7--2.$.;N7-.;>70<6*,1=.27.</>7-*6.7=*5.7*;*-206.7@.,1 <.5<'(2.L+.;5.+.7<6*A26.-.;&>4>7/=5*>=.=-*1.;72,1=.27/*,1 -*+.2<.27<87-.;70./>7-.7@.;-.7D *;4><!,1N,1=.;&




 #  #  A=<QF9EAK;@= FLOA;CDMF?<=J(=<A=FO=DLAKL=AF=#=J9MK>GJ<=JMF?>eJ<=F*-! "=>J9?LKAF< +JG?J9EE MF<+JG<MCLAFFGN9LAGF EG<=JF=&GEEMFAC9LAGFKL=;@FGDG?A=F ,M9DALaLKCGFLJGDD=  /J9FKH9J=FR =K;@O=J<=E9F9?=E=FL <A= FLOA;CDMF?<=J&GEH=L=FR<=J(AL9J:=AL=J$FF=FMF< FA;@LRMD=LRL=AF9CLAN=JA9DG?EAL<=J=NdDC=JMF? =JM>LJ9?,M9DALaL@9DL=FMF<=FLOA;C=DF  >>ARA=FRKA;@=JKL=DD=F KRa@DL<9K1=J@aDLFAK+J=AK '=AKLMF? +JG<MCLIM9DALaL 




%# #!"!( #(




=.<:)/   

 

 

 

  

-1;<=6/ 











)=M=&GEEMFAC9LAGFK

L=;@FGDG?A=FFeLR=F  ,M9DALaLKKL9F<9J<K:=A:=@9DL=F ^>>=FLDA;@ J=;@LDA;@=$F@9DL= <A?AL9DMF<GFDAF=

-0:?-:< %#D  B=/I6/41+0.K:)44-

G"1.;.2<789827=1*?270<86.=127027B8>;<189=1*=7887.@*7=<=8+>B>+52,!.;?2,. ;8*-,*<=.;<@8>5-3><=+.,86.524.*785-52+;*;B+884=1*=7887.=*4.<8>=!8=1. ,1*55.70./8;=1.,;.*=2?.,866>72=B2<=86*4.9>+52,<.;?2,.<>+3.,=<*,,.<<2+5.'I( =2<=1.38+8/9;8->,.;<*7-+;8*-,*<=.;<=8=*7=*52<.9.895.27=87.@*7-27=.;.<=270 =1270<"1.B<18>5-5.*-=1.;*,.78=/8558@=1.*>-2.7,.H  G"1.;.*=2?..;<9.,=2?."1.>=>;. 85.8/>+52,!.;?2,.;8*-,*<=270D




A>>=J=F;=E9LL=JKM;@AF5MCMF>LRa@D=F<A=0FL=J

K;@A=<=RMJCGEE=JRA=DD=F&GFCMJJ=FR 1=JLJ9M=FKOeJ

<A?=$F>GJE9LAGFMF<<A=,M9DALaLKKL9F<9J<K<=K*-! ?=DL=F9M;@AF<=FF=M=F(=<A=F2=FF!=JFK=@=FKA;@ N=JaF<=JL O=FF<9K=<eJ>FAKF9;@$F>GJE9LAGFR=ALMF

9:@aF?A?OAJ< O=FF0FL=J@9DLMF?F=M=!GJE9L==FLOA

;C=DL O=FF(=<A=FFMLR=J$FF=FF=M=FKHJe;@=KL=DD=F AKL<9K=AF=#=J9MK>GJ<=JMF?>eJ<=F*-!  &GEEMFAC9LAGFAKL9M;@GF<=E9F<MF<AE)=LRE=@J 9DKFMJ=AF"=K;@a>LKEG<=DD 2AJD=JF=FMF<KHJ=;@=F <A=.HJ9;@=F<=J5MCMF>LAEM>LJ9?<=J"=K=DDK;@9>L

:)3<1;+0-:=<B-6 

^>>=FLDA;@ J=;@LDA;@=$F>GJE9LAGFK MF< 0FL=J@9DLMF?KIM9DALaLAF<=FF=M=F(=<A=F




41)4#//'069+%-.70)10#+4 1/+00&'4 %"*"+/ %3".-1+(0"

G2."1.6.7>7-;80;*66<,1@.;9>74=.-.<  .;/P55.772,1=7>;-.725->70<*>/=;*0<87-.;7-2.7.7 -*;P+.;127*><*>,1*5<5*==/8;6/P;-.70.<.55<,1*/= 52,1.7@2;=<,1*/=52,1.7>7-9852=2<,1.72<4>;<+.2 -.6<8@815A9.;=77.7*5<*>,1.=;8//.7.C>%8;= 4866.7D

"0". %<".  "+0.)".,$.**!&"+/0"

29JME:J9M;@L<=Jd>>=FLDA;@ J=;@LDA;@=-MF<>MFC +:7?7@E5:I7DBG@=F7 A=FLOGJL9M><A=K=!J9?=C9FF>eJ=AFd>>=FLDA;@

J=;@LDA;@=K(=<A=FMFL=JF=@E=FFMJD9ML=F2=AD ?=K9EL?=K=DDK;@9>LDA;@OA;@LA?=/@=E=F=:=FME>9K

K=F<:= MF<9:?=@9F<=DLO=J<=FEeKK=F M>?JMF<<=J.=?E=FLA=JMF?<=K(=<A=FE9JCL=K OAJ<=KAEE=JK;@OA=JA?=J /@=E=FNGF?=K9EL?=

K=DDK;@9>LDA;@=J-=D=N9FREAL#AD>=FMJ=AF=K/Ja?=J

E=<AMEKEGFGE=<A9DRMLJ9FKHGJLA=J=F 0E=AF ?=K9ELdKL=JJ=A;@AK;@=K+M:DACMERM=JJ=A;@=F?ADL=K <9@=J >eJ<A=(=<A=FFMLRMF?O=K=FLDA;@=+9J9E=L=J OA=;>6G@9 EAL;3>7E,?87>6 .A:@ADF >F7D=L; <=K 5A=DHM:DACMEKRM:=Je;CKA;@LA?=F A=+:7?7@ E5:I7DBG@=F7<=K*-!FMLR=F<9@=J9DD=*-! (=<A=F MF<KH9FF=FKGEAL=AF=FG?=Fe:=J^D8G@= +-  &@>;@7MF<+#+/+:AK@AFRMJ&)@35:>7E7 A= /@=E=FO=J<=FE=<A=FKH=RA>AK;@MF<MFL=J-e;C

KA;@L9M><9KB=O=ADA?=5A=DHM:DACMEKGOG@D9M>>ACLAG

F9D=J :=F= R  <MJ;@<A=+JG?J9EEA=JMF?H9KK=F

<=J.HA=D>ADE= OA=9M;@9M>BGMJF9DAKLAK;@=JMF< J=<9CLAGF=DD=J :=F=<9J?=KL=DDL .GC9FF:=AKHA=DK

O=AK=<9K/@=E9">;?3I3@67>AF=AF=E=ALJ9?<=J ^D8G@= .;EE7@E5:38FAF=FLKHJ=;@=F<=J'aF?= @AF

L=J?JeF<A?MF<9MK>e@JDA;@AF=AF=EX !AGD@3> :=@9F<=DLO=J<=F Oa@J=F<<=JX.75=7DCGFCJ=L= /AHHKMF</JA;CKRMJ1=JJAF?=JMF?<=K^=A>A9;E5:7@



GV346DG5=E9F:A=L=LMF<=K9M><=JK=F<=J=A?=F=F #GE=H9?=Ed?DA;@AKL K=AF=F^=A>A9;E5:7@GV34 6DG5=RM:=J=;@F=F Oa@J=F<OA=<=JME=AF=K<=J &) )79;A@3>D36;AE=AF==AFKLeF<A?=+@GF= AF .=F

<MF?RME/@=E9EAL PH=JL$FF=FN=J9FKL9DL=LMF< *-!:=AKHA=DKO=AK==AF=FL@=E9LAK;@H9KK=F<=F .HA=D>ADE9MKKLJ9@DL =J*-!9;@L=L:=A<=J5MK9EE=FKL=DDMF?<A=K=K X(=<A=FEAP=KS:=KGF<=JK<9J9M> <9KK<A=/@=E=F =AF=JK=ALK9MK<=FMFL=JK;@A=<DA;@KL=F+=JKH=CLAN=F :=D=M;@L=LO=J<=FMF<9F<=J=JK=ALKCGEHD=P=.9;@

N=J@9DL=>eJ<9K+M:DACMEN=JKL=@ MF<F9;@NGDDRA=@

:9J<9J?=KL=DDLO=J<=F A=+:7?7@ G@6'DA9D3??E5:I7DBG@=F7<=K*-! =J>eDD=FFA;@LFMJ<=F?=K=LRDA;@NGJ?=K;@JA=:=F=F ;>6G@9E3G8FD39 KGF<=JF<A=F=F<9Je:=J@AF9MK 9M;@9DK+D9LL>GJE>eJ<=F?=K=DDK;@9>LDA;@=F OAJL

K;@9>LDA;@=FMF<HGDALAK;@=FAKCMJK :=A<=EKGOG@D PH=JL=F$FF=F9DK9M;@=LJG>>=F=RM2GJLCGEE=F  9:=AKL=DDL<=J*-!C=AF=F PCDMKANALaLK9FKHJM;@9M> <A=/@=E=FVAE"=?=FL=AD AE5M?=9DD=J:AK@=JA?=F +:7?7@E5:I7DBG@=F7O9J<=J*-!/@=E=F>e@J=JMF< CGFFL=KG<A=d>>=FLDA;@=AKCMKKAGF <A=AF!GD?=<=K *-! F?9?=E=FLK9M;@AF9F<=J=F(=<A=FKL9LL>9F<  O=K=FLDA;@HJa?=F


   ='4#06914670)  =0018#6+10 )A;@LB=<=K/@=E9IM9DA>ARA=JLKA;@H=JK=>eJ=AF=F &) +:7?7@E5:I7DBG@=F A=9MK?=Oa@DL=F/@=E=F :J9M;@=F9M;@=AF=?=OAKK=XJ=AL=SME>eJ<A= 9M=J=AF=J+JG?J9EEOG;@=9DD=(=<A=F<=K*-! <9EALME>9KK=F<:=KHA=D=FRMCdFF=F .GC9FFKA;@ :=AKHA=DKO=AK=<9K/@=E9D5:;F7=FGD>eJ=AF==A

LJ9?KK=JA=AF^=A?F=F 9:=J=:=FFA;@L>eJ=AF=F *-! O=AL=F+:7?7@E5:I7DBG@=F A=.=D=CLAGFKCJAL=

JA=F>eJ&) +:7?7@E5:I7DBG@=F7KAF<<9@=J ǯ+RKHJHVDPWJHVHOOVFKDIWOLFKH5HOHYDQ] ǯ+RKHSROLWLVFKHXQGZLUWVFKDIWOLFKH5HOHYDQ] ǯ+RKH5HOHYDQ]I¾UGHQGLHHLQ]HOQHQ%¾UJHU,Q )=:=F<=F=AF=?9FR=+JG?J9EEOG;@=ME>9KK=F<=F +:7?7@E5:I7DBG@=F7@?A:L=KAFF=J@9D:<=J*-!

(=<A=FFG;@=AF=?9FR=-=A@=NGF(d?DA;@C=AL=F  /@=E=Fe:=J?J=A>=F<G<=JEGFGE=<A9D9M>RM9J:=A

L=F .G@9LKA;@<=J*-!=LO9<=K/@=E9K$;9D3F;A@ @F79D3F;A@AF:=KGF<=J=J2=AK=9F?=FGEE=FMF< :=D=M;@L=L<A=K=KOa@J=F<<=K?=K9EL=F+JG?J9EE

B9@J=K EALAKCMKKAGF=FMF<=ALJa?=FAF#dJ

>MFCMF<!=JFK=@=F KGOA=>ACLAGF9D=F&=JFKLe;C=F OA==LO9<=E!ADE7DE5:I3DL7#^I7G<=J<=J>eJ !Je@B9@J ?=HD9FL=F.=JA=FE5:GE5:7@BAI7D  AF=:=KGF<=JKNGF<=F&) #3@67EEFG6;AEE=<A9D KL9JC:=?D=AL=L=;3>A9 +AGD<MJ;@9DD='9F<=K@9MHL

KLa<L=KGJ?L=<9>eJ <9KK<9K/@=E9AFK:=KGF<=J= 9M;@>eJ.;@MDCD9KK=F9M>:=J=AL=LMF<RM?aF?DA;@ ?=E9;@LOMJ<= 

M;@<9K/@=E97EG@6:7;FOAJ<Oa@J=F<<=KD9M

>=F<=F+JG?J9EEB9@J=KN=JKLaJCLMF<AFMFL=JK;@A=<

DA;@=J"=OA;@LMF?O9@J?=FGEE=F 2a@J=F<KA;@<A= *-! $FALA9LAN=7IGEEF97EG@6AE!Je@B9@J<=E /@=E97DL "D7;E>3G8OA<E=L= OAJ<AE#=J:KL<=J *F_FL3BB3D3FAE1GJ<=J?JMF<KL=@=F %M:ADa=FMF<"=<=FCL9?=O=J<=F=:=F>9DDKKGOG@D >ACLAGF9D9DK9M;@BGMJF9DAKLAK;@=LO9AF!GJENGF *5:I7DBG@=FBDA9D3??;7DG@97@O9@J?=FGEE=F  .GOMJ<=F=LO9<A=*5:;5=E3>E<3:D7  VEAL<=E F<=<=K JKL=F2=DLCJA=?KV  VEAL<=E FK;@DMKK^KL=JJ=A;@K9F)9RA<=MLK;@D9F<VMF< VEAL<=F.LM<=FL=FMFJM@=FMF<<=J?=O9DLK9

E=F)A=<=JK;@D9?MF?<=K+J9?=J!Je@DAF?KVRM =AF=EKA;@e:=J<9K?9FR=+JG?J9EEB9@J  =JKLJ=;C=F<=F17;F97E5:;5:F7E5:I7DBG@=F  Q Q RMK9EE=F?=>9KKL  AF=KL9JC=R=FLJ9D=+JGB=CLCGGJ<AF9LAGFMF<.L=M=

JMF?<A=K=J.;@O=JHMFCL9CLANALaL=FKGJ?L>eJ<A= 9:KGDMLFGLO=F<A?=&GFN=J?=FRROAK;@=F<=F=AFR=D

F=F*-! (=<A=FMF<:A=L=L9M;@=AFA<=9D=K/=KL>=D< >eJ<=FAEE=JOA;@LA?=JO=J<=F<=FE=<A=Fe:=J?J=A

>=F<=F2GJC>DGOAFF=J@9D:<=K*-!

"0". %<".




'45+00.+%*'7$.+%#.7'

G!.2=-2.202=*52<2.;>70*55.;<,1.27>70</8;6.7 -.;.-2.7P+.;*;+.2=.=)>7-21;.7277.;.7 20.71.2=.7>7-.-270>70.7>7=.;@2;/=<=.55.7 @2;.27.;8<287-.;<27752,1.7>*52=N=?87 >-28>7-$2-.89;8->4=.7/.<=-2..92-.62<,1. ><6*J.*70.7866.71*=D

.+6+,)   ,.-,.0" "/&$+1+! )00#,.**+$"*"+0

9K'G4>;5-3>G7 1=JA>AC9LAGFKN=J>9@J=F KGO=JLNGDD=K K=AFE9?>eJ<A='=?ALAEA=JMF?d>>=FLDA;@ J=;@LDA;@=J -MF<>MFC MF<!=JFK=@9F:A=L=J CdFFL==AF?J9NA=J=F

<=K=>ARAL@9:=FO=FF=KMFKAFFDA;@9M>?=>9KKLMF< 9MK?=D=?LOAJ< .=AF=E&GFR=HL KGK;@=AFL=KG>L  DA=?L<A=1GJKL=DDMF?RM?JMF<= <9KK!=JFK=@=F!=JFK=

@=FMF<-9<AG-9<AGKAF<9DK>AP<=>AFA=JL="JdZ=F <A= B=<= J9M><A=K=D:=JL=EH>aF?LMF<N=J9J:=AL=L O=K

@9D:KA;@<A=#=JNGJ:JAF?MF?=F<=J.=F<=J9MKK;@DA=Z

DA;@XAF@9DLDA;@SNGF=AF9F<=JMFL=JK;@=A<=FOeJ<=F  *<=J9F<=JK?=K9?LA=d>>=FLDA;@ J=;@LDA;@=FF:A=

L=JEeKK=FCeF>LA?:=AF=M=F!GJE9L=FG<=J.=F

<MF?KCGFR=HL=FF9;@O=AK=F <9KK<A=K=NGFCGEE=J

RA=DD=F1=J9FKL9DL=JFFA;@L9F?=:GL=FO=J<=F G:OG@D KA=9MK=AF=J?=K9EL?=K=DDK;@9>LDA;@=F=LJ9;@LMF? OeFK;@=FKO=JLOaJ=F OG@D?=E=JCLXAF@9DLDA;@S A=&GFKME=FL$FF=FMFK=J=J+JG<MCL=>J=ADA;@KAF< @GDAKLAK;@=2=K=F  J?JA>>=FNGE2MFK;@>=JFRMK=@=F  -9<AGRM@dJ=FG<=JKA;@GFDAF=RMAF>GJEA=J=F MFL=J  MF<=FLK;@=A<=FKA=AF<=FK=DL=FKL=F!aDD=F9:KLJ9CL *:=AF+JG?J9EEd>>=FLDA;@ J=;@LDA;@=FG<=JCGEE=JRA

=DD=F0JKHJMF?KAKL G:=KAF<A=K=KG<=JB=F=K!GJE9L H9KKL G:=K=AF"J=EAMEEAL=AF=E"eL=KA=?=DN=JK=

@=F@9LG<=JFA;@L AKLA@F=FN=J?D=A;@KO=AK=K=@J ?D=A;@?eDLA? .L9LL<=KK=FKM;@=F<A=&GFKME=FL$FF=F A@J=FH=JKdFDA;@=FX"=OAFFSMF<K;@dH>=F<A=K=FK=@J AFLMALANMF<?=>e@DKEaZA?9MK<=E?=K9EL=F+JG?J9EE

9F?=:GL 2G:=A<A=K=JX"=OAFFS:=A=AFMF<<=J <=E

K=D:=F&GFKME=FLAF =FB=F9;@/9?=KR=AL 2G;@=FL9? MF<%9@J=KR=AL?aFRDA;@MFL=JK;@A=<DA;@9MK>9DD=FC9FF  .LAEEMF?KK;@O9FCMF?=FFG;@?9JFA;@L=AF?=J=;@F=L 



2=FFOAJAELa?DA;@=F'=:=F=AF+JG<MCL=AF=E9F<=

J=FNGJRA=@=F <9FFKHA=D=FF=:=F<=E+J=AKRO=A !9CLGJ=F<A=#9MHLJGDD=  ǯ(VPXVVǬIXQNWLRQLHUHQǪ  ǯ8QGHVPXVVǬJXWDXVVHKHQǪ 5O=AMLGK <A=?D=A;@='=AKLMF?K<9L=F@9:=F <A= :=A<==AF=-=HML9LAGF@9:=F FA;@L9EFa;@KL=F ;C 9MK=AF9F<=JRM>9DD=F MFL=JK;@=A<=FKA;@AFMFK=J=F M?=F?9FRKL9JC<MJ;@A@J=KA?F  AF=K<9NGF CGEEL>eJMFK?9JFA;@LAF!J9?= O=AD<A=\KL@=LAC<=J aMZ=J=FMF<AFF=J=F!GJE <A=2=JLA?C=ALAF<=J@9H

LAK;@=FMF<NAKM=DD=FFEMLMF?=AF>9;@FA;@L?=?=

:=FKAF< 0F<?=F9MKGO=FA?OA==AFMLG<MJ;@<A= ,M9DALaL<=J-9<9M>@aF?MF?9DD=AF:=KL=;@=F<OAJC=F C9FF C9FF9M;@=AF-9<AG MF<!=JFK=@HJG?J9EE FA;@L<MJ;@K=AF=FX$F@9DLS9DD=AF=HMFCL=F $F:=A<=F !aDD=FEMKK=AF=KAFFDA;@=AE=FKAGFMF<.LAEEA?

C=AL<9RMCGEE=F 9F<=JF>9DDKMFK=AF9FKA;@AFL=J

=KK9FL=J$F@9DL?9JFA;@L=JJ=A;@L .=AL<A=A?AL9DAKA=JMF?9DD= JK;@=AFMF?K>GJE=F<=J (=<A=FXe:=J9J:=AL=LSMF<A@J=FAFF=J=F A?=F@=AL=F MF<=<AF?MF?=FMFL=JOAJ>L KL=DD=FOAJ=AF= JGKAGF <=JKAFFDA;@=F,M9DALaLNGFM<AG MF<1A<=GHJG<MC

L=F>=KL <A==HA<=EAK;@=MKE9Z=9F?=FGEE=F@9L  AF:=KGF<=JK=JK;@J=;C=F<=K=AKHA=D<9>eJAKL<A= (MKACAF<MKLJA=AKAF<A= =J%9@J=HJG<MRA=JL=KA= 1AFQD D:=F9DKR=FLJ9D=K+JG<MCL <A=<=E$<=9D<=J X;9:;67>;FKSN=JH>DA;@L=LO9J=FMF<=AF>J9HHA=J=F< F9LMJ?=LJ=M=KEMKAC9DAK;@=K J=A?FAKOA=<=J?=:=F CGFFL=F (AL<=JO9JE9F9DK JKL=J9M><=E 29?=F-A;@LMF?<A?AL9D=J5MCMF>LMF<K=@J:9D<KL=DDL=


 =0018#6+10    ='4#06914670) KA;@AE&J=AK=<=J(MKAC>J=MF<$FF=F<A="=OAKK@=AL=AF  <9KK=AF=AFE9F;@=J#AFKA;@LFA;@LAEE=JMF<FA;@L ?9FRKGEMKAC9DAK;@AKLOA=:=KGF<=JK?MLHJG<MRA=JL= MF<OA=<=J?=?=:=F=1AFQD +D9LL=F $F<=J@AKLGJAK;@=F -=LJGKH=CLAN=?A:LE9F<9>eJ<=ED=?=F<aJ=F*&%0

@=>CAG(GJAL9<A=.;@MD< <=JMF:=<AF?L==L@GN=FK  *;@8A@;79M>=AF=:9FF=FOGDDL= O9K (AFML=F .HA=DR=AL=J>GJ<=JL= OG>eJE9F=AF=D=A;@L=9L=FJ=<MC

LAGFAF&9M>F9@E :=J<9KAKLFA;@LKAE1=J?D=A;@RMJ (+ 2A=<=J?9:= EAL<=JK=AL=AF=E%9@JR=@FL<A= *@J=FBMF?=J(MKAC>J=MF<$FF=FRM?=EeDDLO=J<=F%=LRL KGDD=FR=@FE9DO=FA?=J9L=FJ=A;@=F MEXF9LMJ?=

LJ=M=S2A=<=J?9:=RM=JEd?DA;@=F=JLJ9MJA?= 5MKL9F<<=J(MKACAF<MKLJA=?A:LB=F=F-=;@L <A=NGJ <=E1=JLJA=:HK=M<GEMKAC9DAK;@GJ?9FAKA=JL=J"=JaM

K;@=?=O9JFL@9:=F A=A?AL9DE=<A=FMFL=JK;@=A<=FKA;@NGFA@J=F9F9

DG?=F1GJ?aF?=JF9:=JFA;@L<9<MJ;@ <9KKKA=KQKL=

E9LAK;@AFA@J=JKAFFDA;@=F,M9DALaLK;@D=;@L=JKAF<  AE"=?=FL=AD.A=CdFF=FNA=D:=KK=JK=AF 1GJ9MK?=

K=LRL E9FKH9JLFA;@L9E>9DK;@=F+D9LR OGRM<A= A?AL9DL=;@FAC>J=ADA;@9M>.;@JALLMF</JALL=AFDa<L  LO9KN=J=AF>9;@L?=K9?L%=@d@=J<A=9F<:J=AL=AKL  <A=A;@E=AF=E(=<AMEAFM>R=A;@FMF?MF<2A=<=J

?9:==AFJaME= MEKGE=@J9L=FCGEE=F:=AE*@J G<=J<=EM?=<=K=LJ9;@L=JK9F MEKGK;@dF=J MF<XF9LMJ?=LJ=M=JS=EH>AF<=L=J<9K9J?=:GL=F=  9K?ADLMEKGE=@J K=AL<A=A?AL9DAKA=JMF?9M><=J &GFKME=FL$FF=FK=AL=@d@=J9M>DdK=F<=MF<<9@=J XCJALAK;@=J=S EH>9F?K MF<2A=<=J?9:=?=JaL=E9K

K=F@9>LAF<A=#9MK@9DL=KHeDL 2=FFOAJ<99M>9M=J FA;@LMFL=J<A=-a<=JCGEE=FOGDD=F EeKK=FOAJ

^>>=FLDA;@ -=;@LDA;@=FL=;@FGDG?AK;@F9;@JeKL=F =J +DGEF <=J J>AF<=JMF<"J9DK@eL=J<=J'G4>;5-3>G7

(9ZKLa:= <A=FMF9M;@>eJMFK?=DL=F E9;@LAFK=AF=J =?JeF<MF?>eJ<=F@G@=F'G4>;5-3>G7<=J 

.=F<MF?=F?=F9M9M><A=K=F0EKL9F<9M>E=JCK9E M>9M=JFeLR=F<A=O=JLNGDDKL=F$F@9DL=FA;@LK O=FF <9K+M:DACMEEALK=AF=F*&%0 MF<'3@3EA@;5 #

&D=AFC9E=J9K:JADD9FL=J=AD<=J9MK<=E0JD9M:EAL

:JAF?L9DK<A=A@F=FDA=>=JFC9FF A=.HA=D=CGFKG

D=F <A=1 MF<DM -9Q +D9Q=JN=JKGJ?=F<A=F=M=F XCJALAK;@=FS!D9;@:AD<K;@AJE=EAL.;@9MO=JL=F <=F=F <A=+' .=F<=J<9K29KK=JFA;@LJ=A;@=FCdFF=F 2=J<A=,)&

MF<<A=&>K?B;E5:7@*B;7>7AF +=CAF?G<=J9M;@FMJXEF7DD7;5: D3@=D7;5:9MK<=E #9HH=D .L9<AGFAF+-=JD=:L@9LO=J=AF=^+JG

<MCLAGFNGF<=F*3>L4GD97D7EFEB;7>7@G<=J9MK<=E 2A=F=J(MKACN=J=AFAF@G@=J<A?AL9D=J9F<:J=AL=NA9 .9L=DDAL?=@dJL@9L >eJ<A= <=FKL=@L>=KLA=K= @QH=JF9LMJ9DAKLAK;@=F!=FKL=JAF<A=KHGJLDA;@=G<=J EMKAC9DAK;@=2AJCDA;@C=ALKL=DD=F=AF=F<=JE9Z=F @G@=F2=JL>eJB=<= F AFR=DF= FMF<>eJ<A=^>>=FL

DA;@C=AL9DK"9FR=K<9J =L9:DA=J=F=AF=F=M=&MDLMJ <=K.=@=FKMF<#dJ=FK <9KK=KC=AF5MJe;C?A:L  2=J O=FFFA;@LOAJ^>>=FLDA;@ -=;@LDA;@=F OAJ<<A=K= &MDLMJ=L9:DA=J=F KOAJ<"=D< (e@=MF<.GJ?>9DL CGKL=F 9:=J=AF=F@G@=F'G4>;5-3>G7<9JKL=DD=F  K OAJ<FA;@LFMJ<9K:=KK=J<=KA?FL= K;@dF=J= KAFF

DA;@9FKHJ=;@=F<=J=MLG?=C9M>L =KOAJ<9M;@B=F=K !=JFK=@

-9<AGHJG?J9EE?=Oa@DL <9KM?=FMF< *@J=FKLJ=A;@=DLMF<N=JOd@FL

.+6+,) 


+'"7-70(6+070&#&+1*#6$')100'0 E%C15!

:=?9FF=F:=AE*-!<A=AFL=FKAN=F1GJ:=J=ALMF?=F>eJ<9K+JGB=CL # -QEF39;@9A8?76;37H7@FE $E&GFR=HL# -OAJ<=AFNGDDKLaF<A?=J&GE

EMFAC9LAGFKHJGR=KKROAK;@=F<=F+JG?J9EE?=KL9DL=J$FF=F# - -=?AKK=MJ

$FF=F:RO  -=<9CL=MJ$FF=FMF<<=F.=@=J$FF=F=L9:DA=JL  AF"JMF<>eJ<A= -=D=N9FR <A=K=K +JGB=CLK AKL  <9KK KA;@ <9K /1 .=@=J$FF=FN=J@9DL=F AF <=F N=J?9F?=F=F R=@F %9@J=F <MJ;@ <A= AF>DeKK= 9MK <=E $FL=JF=LCGFKME MF< <MJ;@ <A= E9KKAN= JO=AL=JMF? <=K +JG?J9EE9F?=:GLK N=JaF<=JL @9L  9K 0 +JGB=CL# -LJa?L<A=K=F FLOA;CDMF?=F-=;@FMF?MF<CGFR=FLJA=JLKA;@ 9DK-=9CLAGF<9J9M>9M>=AF&=JF?=:A=LNGF!=JFK=@HJG?J9EE9F:A=L=J$FF=FV <=J"=KL9DLMF?NGFAFL=J9CLAN=F'AN= .=F<MF?=F A=!MFCLAGFKO=AK=NGF# -OAJ<CMF<=FGJA=FLA=JLMF<=AF>9;@RM:=<A=F=F K=AF MK=AF=J1A=DR9@DNGF'AN= 1A<=GIM=DD=F=AF=K"JGZ=N=FLK :=KL=@=F< 9MK>=JLA??=EAK;@L=F_:=JLJ9?MF?=FX8776ESG<=J9MK=AFR=DF=F&9E=J9

:AD<=JF EAK;@L<=JX# - -;67A A@6G5FADS#-=AF+JG?J9EE GMIM=L :=

KL=@=F<9MK=LO9NA=J=N=FL:=RG?=F=F H9J9DD=D=FMF<MFL=J=AF9F<=JAF@9DL

DA;@N=JCFeH>L=F.=JNA;=K A=5MK=@=J$FF=FCdFF=FEAL#AD>=NGF#AFO=AK=F <=J (G<=J9LGJ$FF=F  &GEE=FL9LGJ$FF=F MF< EAL #AD>= NGF 9HHDAC9LAGFK:=

RG?=F=FL=PLM=DD=F AF:D=F<MF?=Fe:=J<A=*7F +AB AJXA@JSAF<ANA<M=DD=K +JG?J9EERMK9EE=FKL=DD=F:RO 9MKOa@D=F 

!=6<-:;<K<B<)*-4*-<:-1*-:*-1,-:1/1<)41;1-:=6/

0E<9K<A?AL9D=!=JFK=@=FEd?DA;@KLJ9K;@9DD=F^KL=JJ=A;@=J$FF=FRM?aF?

DA;@RME9;@=F K=LRL<=J*-!AF5MK9EE=F9J:=ALEAL<=J)G@68G@=G@6+7>7 =A?)79G>;7DG@9E ?4)+)=AF=O=AL=J=$FALA9LAN=*-!MF<)+)MFL=JKLeL

R=F <A= dKL=JJ=A;@AK;@=F &9:=D:=LJ=A:=J :=A <=J A?AL9DAKA=JMF? A@J=J )=LR=  5M<A=K=E5O=;C=JJA;@L=L<=J*-!=AF=F=A?=F=F(MDLAHD=P>eJ<A=dKL=JJ=A

;@AK;@=F&9:=D:=LJ=A:=J !eJ<A=&9:=DF=LR:=LJ=A:=JMF<A@J=&MF<$FF=FKAF< <9EALNA=D=1GJL=AD=N=J:MF<=F 5  KAF<9DD=<A?AL9D=F5MK9LR<A=FKL=A>4K ;9;F3> $' $G>F;+7JF ' 1I7;=3@3>FA@=L; <9EAL9M;@NA9&9:=DN=J>e?

:9JMF<=KAKLC=AF= FLK;@DeKK=DMF?OA=:=A<=J_:=JF9@E=NGE.9L=DDAL=F FdLA? 2=AL=JKOAJ<<9EAL9M;@<A="JMF<D9?=>eJ+-NA9&9:=D?=K;@9>>=F X.;DE7FL7@63?;F7;@7@I7E7@F>;5:7@*5:D;FF8_D6;7;9;F3>;E;7DG@967D^EF7D D7;5:;E5:7@"347>@7FL7G@67D:^:7@63E*7DH;578_DG@E7D7"G@6 @@7@@35: X.;DE7FL7@63?;F7;@7@I7E7@F>;5:7@*5:D;FF8_D6;7;9;F3>;E;7DG@967D^EF7DD7;5:;E5:7@"347>@7FL7G@6 :3>F;9S+=L=J /=;@FAK;@=JAJ=CLGJ<=K*-! 7D:^:7@63E*7DH;578_DG@E7D7"G@6 @@7@@35::3>F;9S+=L=J(GGKE9FF /=;@FAK;@=JAJ=CLGJ<=K*-!

!;<):<-<-57*14-6#%#-;<3)6)4

=J *-! KL9JL=L=

 <=F =JKL=F dKL=JJ=A;@AK;@=F -  +ADGLN=JKM;@ AE -9@E=F<=K-  +ADGLHJGB=CLK?A4;>7FH3GEFD;3 1GFF>9F?(aJR:AK F<= %MFAKLJ9@DL=<=J*-!=AF=FEG:AD=EH>9F?:9J=F/1 &9F9DEAL=A?=FK?=KL9D

L=L=E/=KLHJG?J9EE9MK 9Ke:=J- N=J>e?:9J=+JG?J9EE&)?A4;> :A=L=LKH=RA=DD9M><9KEG:AD=)MLRMF?KN=J@9DL=F@AFCGFRAHA=JL=K!=JFK=@=F  "=E=AFK9EEAL?A4;>=A?3GEFD;3 GF5:;EA@  *;7?7@EXEF7DD7;5: &)*MF< <=J35::A5:E5:G>7*3>L4GD9:=L=ADA?L=KA;@<=J*-!EAL<=E-  +ADGLHJG

?J9EE 9F<=J+D9LL>GJE?A4;>7FH3GEFD;3 A=9MK(ALL=DF<=K)+) ;9;F3>; E;7DG@9E8A@6EMFL=JKLeLRL=+D9LL>GJE>e@JL==AF?JGZ9F?=D=?L=K+ADGLHJGB=CL RM<A?AL9D L=JJ=KLJAK;@=E!=JFK=@=F9M>EG:AD=F F<?=JaL=F- <MJ;@  -MF<

/=KLH=JKGF=F=J@A=DL=F<9:=A<A=(d?DA;@C=AL :AK F<=%MFA

 AF<=J2A=F=J$FF=FKL9<LMF<AF9F?J=FR=F<=F5GF=FEG:AD=K!=JFK=@=F9M> -  9KAKMF<<9EALe:=JJG9<;9KLL=;@FGDG?A=RML=KL=F  MJ;@<=F J>GD?<=K+ADGLN=JKM;@KCGFFL=<=JF=M=.L9F<9J<>eJ<9KEG:AD= !=JFK=@=FAE.GEE=J

=AF?=>e@JLO=J<=F 




J:.145-15!

=J=ALKK=AL

CdFF=F&) ^D8;>?7=EH>9F?=FO=J<=F ^D8;>?7O=J<=F AE*-!NA91I7;=3@3>FA@9MK?=KLJ9@DL )GLO=F<A?AKL:=AL=JJ=KLJAK;@=E:RO  &9:=D=EH>9F?=AF.L=J=G !=JFK=@?=JaLG<=J.L=J=G 1A<=GJ=;GJ<=J :=A.9L=D

DAL=F=EH>9F?=AF.L=J=G .9L=DDAL=FJ=;=AN=J <A=B=O=ADK<A=1I7;=3@3>FA@ &=F

FMF?9MKO=JL=F M>.HMJAKL<=JFGJE9D=!ADELGFG@F=M<AG<=KCJAHLAGF  9M>.HMJ =AF=(AK;@MF?9MK!ADELGFMF<M<AG:=K;@J=A:MF?RM=EH>9F?=F  .HMJ C9FF:=A<=FE=AKL=F"=JaL=Fe:=J<9K&@ *5D77@ $7@_EAL#AD>=<=J !=JF:=<A=FMF?<=K!=JFK=@?=JaL=K 1A<=GJ=CGJ<=JK9F?=Oa@DLO=J<=F .9L=D

DAL=F =KALR=J$FF=FEeKK=F<=F/GFC9F9DEAL<=JM<AG<=KCJAHLAGF<AJ=CL9E -=;=AN=J=AFKL=DD=F  "=C=FFR=A;@F=LO=J<=F^D8;>?7AE*-!RO=A>9;@<MJ;@=AF=&MJRKA?F9LAGF NGJ!ADE:=?AFFMF<<MJ;@ AF:D=F<MF?<=K=FLKHJ=;@=F<=F'G?GK=AF9:KLJ9

@A=JL=K<MJ;@?=KLJA;@=F=KM?= 

-:!*-:-1<-<-;1+0 )=.,1-16.K0:=6/>7:

9EAL<=J*-!RMJ,)& K=AF+M:DACMEEAL?=KLG;@=FK;@9J>=FAD<=JF =J>J=M=FCGFFL= :=<MJ>L==K=AF=JD9F?=FMF<AFL=FKAN=F1GJ:=J=ALMF? 9>eJ ?A:L=KFMF9:=J=AF=:AKRM>eF>E9D@d@=J=M>DdKMF?9DK<A=@=JCdEEDA;@= .L9F<9J<9M>DdKMF? 9EALN=J:MF<=FAKL9M;@=AF=@d@=J=_:=JLJ9?MF?KJ9L=  <A=<9>eJKGJ?L <9KKEAL+-;9:78;@;F;A@+7>7H;E;A@.=F<MF?=FFG;@ K;@aJ>=J EAL=AF=JKA;@L:9J=F=L9AD?=F9MA?C=ALMF<AFGHLAEA=JL=F!9J:=FRM =EH>9F?=FKAF< =J<MJ;@<A=K=FF=M=F.L9F<9J<AFL=?JA=JL=

*GDDAG@6 *AG@6=J>eDDL<A==<eJ>FAKK=NA=D=J=KALR=J$FF=F=AF=J.MJJGMF< FD9?=

 =0018#6+10    ='4#06914670)

0018#6+10+/

-:!=4<1#-@<

J AKL <=J F=M= <A?AL9D= 5MK9LR<A=FKL <=K *-! MF< =JEd?DA;@L <=F /1 5MK=

@=J$FF=F EALL=DK$G>F;+7JF >a@A?=J- + AJRMKaLRDA;@=$F>GJE9LAGF=Fe:=J <9K*-! F?=:GL9:RMJM>=FVMF<<9K G@F=<9KKL9LAGFaJ=/1 +JG?J9EEN=J

D9KK=FRMEeKK=F=J&)&"$G>F;+7JFV=AF.;@JALLAF<A=<A?AL9D=5MCMF>L




'%*0+5%*'1/2'6'0< #.514#755'6<70)(E4 '46'

G2. ".,17242<=27K<=.;;.2,1<.2=3.1.;.27 *;*7=/P;.;7<.1>7-O;/>74L+.;=;*0>70.7 *>/:>*52=*=2?1O,1<=.62?.*>D

"0".,,/*++ " %+&/ %". &."(0,.

A=&) +75:@;=AKLAF^KL=JJ=A;@K=ALB=@=J=AF"9J9FL >eJ!=JFK=@ MF<#dJ>MFC _:=JLJ9?MF?=F9M>IM9DAL9

LAN@d;@KL=E)AN=9M /=;@FAK;@9M>O=F<A?=_:=JLJ9

?MF?=F9MK<=E.CARAJCMK&ALR:e@=DG<=J.;@D9<

EAF?G<=JNGF<=FR9@DJ=A;@=FdKL=JJ=A;@AK;@=F&MD

LMJ@A?@DA?@LKR  *3>L4GD97DG<=JD797@L7D7EF EB;7>7LJ9?=FO=K=FLDA;@RME+JG?J9EE9M>LJ9?<=K d>>=FLDA;@ J=;@LDA;@=F!=JFK=@=FKAF^KL=JJ=A;@:=A  )=:=F<A=K=F:=KGF<=J=FHMFCLM=DD=F#=J9MK>GJ<=

JMF?=F?ADL=K =AF=KGDA<= 9:=J?D=A;@R=ALA?9M;@ K=@J>D=PA:D=9KAKAF>J9KLJMCLMJ>eJ<=FLa?DA;@=F  .LMF<=F )=OK =LJA=:RMJ1=J>e?MF?RMKL=DD=F $F&JAK=F G<=J&9L9KLJGH@=FKALM9LAGF=FAKL<A=&) +75:@;=9DKA=FKLD=AKL=JAF<=J'9?= K;@F=DDMF< 9CLM=DDNGE0F>9DDGJLRM:=JA;@L=FMF<<A==NdDC=

JMF?e:=JEd?DA;@==<JG@MF?KKR=F9JA=FRMAF>GJ

EA=J=F 0E9M;@MFL=J=JK;@O=JL=F=<AF?MF?=F 9?A=J=FRMCdFF=F :=<AF?L<A=K?JdZL=K&FGO @GO MF<=AF=:=KGF<=J=*JLKC=FFLFAK<=J/=;@FAC=J$FF=F  9Je:=J@AF9MKO=J<=FMF<OMJ<=F<A=L=;@FAK;@=F FD9?=FKGCGFR=HLAGFA=JL <9KK<A=K=AE&9L9KLJG

H@=F>9DD9MK>9DDK>J=A>MFCLAGFA=J=F

 

1GF<=J&) +75:@;=OMJ<=FAF<=FD=LRL=F%9@J=FN=J

KLaJCL'dKMF?=F=J9J:=AL=L <A=#dJ=J$FF=FMF<.=@=

J$FF=FEAL:=KGF<=J=F=<eJ>FAKK=F=AF=-=R=HLAGF <=J*-! +JG?J9EE==JEd?DA;@=F $FN=KLALAGF=FAF L=;@FAK;@=FD9?=F>eJ<A="=@dJDGK=FMFL=JLAL=DMF? MF<"=:aJ<=F<GDE=LK;@E9;@=F<A=KEd?DA;@ DKO=K=FLDA;@KL=JL=;@FAK;@=J(=AD=FKL=AFF9;@ <=J AF>e@JMF?<=K!9J:>=JFK=@=FKC9FF<A= AF

>e@JMF?<=K@G;@9M>DdK=F<=F!=JFK=@=FK+- 9F?=K=@=FO=J<=F A= AF>e@JMF?OMJ<=NGF<=F .H=RA9DAKL=F<=J&) +75:@;=F9;@<=J"=K;@a>LK

>e@JMF?K=FLK;@=A<MF?AE#=J:KL AF-=CGJ<

R=ALRMJ,)&

ME?=K=LRL A=?JdZL=#=J9MK>GJ<=JMF?<=JCGEE=F<=F%9@J=AE =J=A;@<=J+75:@;E5:7@;D7=F;A@DA=?L9:=J<9JAF  <9KK<A=9DK'G4>;5-3>G7K;@GF?=OG@FL=F,M9DALaLK

KL9F<9J<KEALKAFC=F<=E+=JKGF9DKL9F<MF<AEE=J ?=JAF?=J=F!AF9FREALL=DFAF=AF=EKLaF<A?CGEHD=P=

J=FL=;@FGDG?AK;@=F0E>=D<AEE=JK;@O=J=J9M>

J=;@LRM=J@9DL=FKAF< 

"0".,,/*++


 D);6-=--:6;-0.7:5)<

=J*-!@9L<A=+JG?J9EEJ=>GJE

?=FMLRL ME=AF=1A=DR9@DK=AF=J+JG

<MCLAGF=F9M><9KAD?3F MERMKL=DD=F 9KF=M=!GJE9LAKLO=K=FL

DA;@ :J=AL=J MF< =FLKHJA;@L KG NA=D E=@J <=E F9LeJDA;@=F "=KA;@LK>=D< <=J )MLR=J$FF=F 9K  AD?3FOAJ<:9D</=AD<=J!=JFK=@?=K;@A;@L=K=AF =JFL=ADNGF!=JF

K=@HJG<MCLAGF=FAEAD?3F FAEELAFL=JF9LAGF9DKL=LA?RM 29K:AKD9F? KG?=F9FFL=F #G;@?D9FRHJG<MCL=F NGJ:=@9DL=F O9J  AKL @=ML= .L9F<9J<  =J *-! LJa?L EAL <=J MKO=ALMF? K=AF=K  F?=:GLK 9M;@ =AF=E AFL=JF9LAG

F9D=F /J=F< -=;@FMF?  )=:=F &MDLMJHJG<MCLAGF=F MF< GCME=FL9LAGF=F ,@;H7DEG?  <A= <=J *-! :=J=ALK K=AL NA=D=F %9@J=F AEAD?3F  @=JKL=DDL MF<9MKKLJ9@DL @9L<=J*-!AE%9@J

R9@DJ=A;@=.HGJLK=F<MF?=F9M><9K J=AL:AD<>=JFK=@=F ME?=KL=DDL  1A=D= .CAJ=FF=F <=J .9AKGF

 OMJ

<=FAEAD?3F e:=JLJ9?=F

 =0018#6+10    ='4#06914670)

'*4'48+%'$'55'4'4100'7'5 +.&(14/#6 +''7'470)'0+0#&+170&

D4-+<:761+:7/:)5=1,-

AF==D=CLJGFAK;@=+JG?J9EER=ALK;@JA>L <=J' >e@JLFMF9DD=- + .=@=J

$FF=F<MJ;@<9K/1 +JG?J9EE<=JFa;@KL=FKA=:=F/9?= =J'OAJ<NGE +D9LL>GJE:=LJ=A:=J&)*N=JO9DL=LMF<NGF<=F-MF<>MFCN=J9FKL9DL=JF9CLM

9DAKA=JL )9;@RMD=K=FKAF<FA;@LFMJ<A=+JG?J9EE<9L=F<=K9CLM=DD=F/9?=K  KGF<=JF2G;@=FNGJK;@9M N=JLA=>=F<=$F>GJE9LAGF=FRM<=F.=F<MF?=FEAL !GLGKMF<"J9>AC=F:RO <A=MKO9@D<=J.=F<MF?=FF9;@"=FJ=K

G 7?647),=6,7,+);<

$E%M:ADaMEKB9@J

 9FDaKKDA;@<=K "=:MJLKL9?=K<=K.=F<=JK :DA;CL^ FA;@LFMJRMJe;C KGF<=JF9M;@F9;@NGJF=VAF<A=5MCMF>L<=JM<AGAF>GJE9

LAGF  AF=F1GJ?=K;@E9;C9M><A=K=5MCMF>L?A:L=K>eJX >G4 (AL?DA=<=JK=AL E=@J9DK<J=A%9@J=FVEAL<=EX AI@>A36 .=ALHJAD

?A:L=K=AFF=M=K F?=:GL<=FX 'A653EF9MK<=F=J=A;@=F @8AD?3F;A@ .;EE7@E5:38F "G> FGD )7>;9;A@ X 8_D";@67DMF<X >G4 0FL=JA7

&) 3F BA653EF>AF<=LE9F <A=_:=JKA;@L9DD=J.=F<=J=A@=FEAL'AFCKRM<=F'A653F5:7D@ EAL<=F=F E9F<A=.=F<MF?=FCGKL=FDGK9:GFFA=J=FC9FF 

!15(?-13)6)4<76

AFL=FKANA=JL=<=J*-!K=AFF?=:GLAE1I7;=3@3>FA@ 9EALC9E=J<=E 2MFK;@NA=D=J&MF<$FF=FF9;@ <A=:=DA=:L=F.=JA=FMF<!ADE=9MK<=E>J=E<

KHJ9;@A?=FMKD9F<9M;@EAL*JA?AF9DLGFK;@9M=FRMCdFF=F 0FL=J9F<=J=E CGFFL=F<A=!ADE=*I;??;@9'AA> @3FA?;77;@7E$AD67E #AD6!;? 3E%3D D7@E5:;88 MF< 1I;E5:7@EB;7> AF A@J=F B=O=ADA?=F *JA?AF9D>9KKMF?=F ?=K;@9ML O=J<=F *-! &MF<$FF=FCGFFL=F9:=J9M;@<A=#G;@?D9FRK=JA=FD7KE@3 FA?KMF<7EB7D3F7AGE7I;H7EKGOA=<A=N=JK;@A=<=F=F!GJE9L=<=K.L9J

CG;@K!3?;7&>;H7DAF=F?DAK;@=J.HJ9;@=N=J>GD?=F 






+)+6#.'5'0&'40'6< 1//70+-#6+10#.5'4#75(14&'470)

G2.=.,172<,1. .2,1@.2=.-.<$"!.7-.;7.= C.<27K<=.;;.2,1+.=;>0C>6*1;.<.7-.;>7- ;8C.7=-.;O<=.;;.2,12<,1.7"$*><1*5=.@*< .27.7.>;89N2<,1.7!92=C.7@.;=-*;<=.55=D

& %")$"+%,#". "/ %;#0/#=%.".

L=JJ=KLJAK;@=+JG?J9EE:GMIM=LAF<=F'9F<=K

@9MHLKLa<L=FMF<0E?=:MF?9M>?=FGEE=F 

A=A?AL9DAKA=JMF?<=K=J<?=:MF<=F=FL=JJ=KLJA

K;@=F-MF<>MFCK=F<=JF=LR=K O=D;@=AF^KL=JJ=A;@ :AKF>9F? 9:?=K;@DGKK=FK=AFKGDD KL=DDLRO=A

>=DDGK<A=?JdZL=JMF<>MFCL=;@FAK;@=#=J9MK>GJ<=

JMF?<=JD=LRL=F%9@JR=@FL=<9J !eJ<=F*-!KL=@=F <9:=A<=J(=@JO=JL<=J<A?AL9D=F/=;@FGDG?A=MF<<A= 1=J=AF>9;@MF?<=K0EKLA=?K>eJ<A=/1 &GFKME=FL$F

F=FAE(ALL=DHMFCL 9K%9@J C9FF<9:=A9DK X.;@DeKK=DB9@JS:=R=A;@F=LO=J<=F <9:=?AFF=F< EAL(aJR<A=+@9K=9F9DG? <A?AL9D=J+9J9DD=D9MKKLJ9@

DMF?<=J+JG?J9EE=*-! *-!MF</1AF<=F'9F

<=K@9MHLKLa<L=FMF<0E?=:MF?:==F<=LMF<KGEAL =AF0EKLA=?<=J:=LJG>>=F=F#9MK@9DL=9M><A?AL9D= EH>9F?K=AFJA;@LMF?=F=J>GJ<=JDA;@OMJ<= A=.=F<=JL=;@FAC=J$FF=F<=K*-! &GFR=JFK@9:=F KA;@<MJ;@>9;@L=;@FAK;@=2=AL=J:AD<MF? AFL=JF9LAG

F9D=F J>9@JMF?K9MKL9MK;@MF<N=JK;@A=<=F=!=D<

N=JKM;@=9M><A=K=M>?9:=NGJ:=J=AL=L ME=AF=HJG

>=KKAGF=DD=0EK=LRMF?RM?=Oa@JD=AKL=F A=KAKL 9M;@?=DMF?=F$FK?=K9ELOMJ<=FAE%9@J  .=F<=9FD9?=F9M><A?AL9D=/=;@FACME?=KL=DDL $F <=J-=?=DCGFFL=F<A=K=0EKL=DDMF?=F <A=AF<=F FMLRMF?K9JE=F>Je@=F(GJ?=FKLMF<=F<MJ;@?=>e@JL O=J<=F :AFF=FO=FA?=J(AFML=FG@F=MF?=HD9FL= X.=F<=H9MK=FSNGDDRG?=FO=J<=F  (AL<=J:K;@9DLMF?9F9DG?=J#9MHLK=F<=9FD9?=F OMJ<=9M;@<A=KG?=F9FFL=X;9;F3>7;H;67@67S >eJ<A=/1 &GFKME=FL$FF=FMFEALL=D:9JFMLR:9J 5MKaLRDA;@RM*-! *-!MF</1OMJ<=FEAL +MDK K9LMF<*-!.+*-/+'0.<J=AO=AL=J= dKL=JJ=A;@:=RG?=F=/1 +JG?J9EE=AF<9K<A?AL9D

 

$FK?=K9ELCGFFL=FAE%9@J <MJ;@<A=.=F<MF

?=FMF<CLAGF=F<=K*-!KGOA=<MJ;@<A=E9Z?=:

DA;@NGE*-!EAL>AF9FRA=JL=$F>GJE9LAGFKC9EH9?F= 6H4 F 3FJMF<(AG &MF<=FCGFL9CL=@=J?=KL=DDLMF< KGEAL=AFO=K=FLDA;@=J=ALJ9?RMJ0EKLA=?K:=J=AL

K;@9>L<=J/1 &GFKME=FL$FF=F?=D=AKL=LO=J<=F  $FFGN9LAGFC9FFaDL=J=G<=JC9M>CJ9>LK;@Oa;@=J= &GFKME=FL$FF=FB=<G;@9M;@NGJ+JG:D=E=KL=DD=F  $E.AFF=<=J1=JE=A<MF?=AF=JXA?AL9D=F.H9DLMF?S @9:=F<=J*-!MF<K=AF=/G;@L=J?=K=DDK;@9>L&)* XEF7DD7;5:;E5:7)G@68G@=E7@67D=AF=-=A@=NGF (9ZF9@E=F=J?JA>>=F ME9M;@<A=K==NdDC=JMF?K

K;@A;@L=F9F<=JA?AL9DAKA=JMF?L=AD@9:=FRMD9KK=F  #A=JK=A<9K- + .=JNA;= /=9E@=JNGJRM@=:=F <9K AF<=FB=O=ADA?=F0EKL=DDMF?KJ=?AGF=FNGJ*JL#AD>= ?=D=AKL=L@9L 9:=J9M;@<A=AF5MK9EE=F9J:=ALEAL <=E;9;F3>;E;7DG@9E8A@6E<=J)+) ?4<MJ;@?=

>e@JL=!dJ<=JMF??=:e@J=F:=>J=AL=J#9MK@9DL=:=AE &9M>NGF- + -=;=AN=JF  =J*-!>GD?L:=A<=JA?AL9DAKA=JMF?<=J/1 1=J:J=A

LMF?KO=?=C=AF=ECGEE=JRA=DD=F A?=FAFL=J=KK=  A=A?AL9DAKA=JMF?:=<=ML=LAF=JKL=J'AFA=E=@J2=LL

:=O=J:9E+JG?J9EE MF<2=J:=E9JCL OG@AF?=?=F KA;@<A=<MJ;@9MKKA?FA>AC9FL=2=JLK;@dH>MF?<A=K=K A?AL9DAKA=JMF?KKHJMF?KNGJ9DD=E:=A$F<MKLJA= #9F

<=DMF<"=O=J:=9::AD<=L  =J*-!OAJ<@A=JAFK=AF=J-GDD=9DK+JGEGLGJ<A?AL9

D=J$FFGN9LAGF?=J=;@L =AF=JK=ALKME<=EDG@6  -7DEAD9G@9E3G8FD39<=K&) 7E7FL7ERM=FLKHJ=

;@=FMF<9F<=J=JK=ALKME<=E?=aF<=JL=F)MLRMF?K

N=J@9DL=F<=J/1 &GFKME=FL$FF=FEG:AD=MF<HGJL9

:D=)MLRMF?NGF/1 +JG?J9EE=F?=OAFFL9F=<=M

LMF?RM=FLKHJ=;@=F  

& %")$"+%,#".


!1/1<)4

E *CLG:=J

>A=D<=J.L9JLK;@MKKRMJ AF>e@JMF?<=K<A?AL9D L=JJ=KLJA

K;@=F!=JFK=@=FK- + AF^KL=JJ=A;@ 9KA=J=F<9M>=AF=J 0 EH>=@DMF? =J@A=DL <=J *-! NGE "=K=LR?=:=J <=F M>LJ9?  ?=E=AFK9E EAL +9JLF=JF <A= 0EKL=DDMF?<=JL=JJ=KLJAK;@=F/1 _:=JLJ9?MF?NGF9F9DG?9M><A?AL9DMERM

K=LR=F OGEAL=AFO=K=FLDA;@=J.;@JALL>eJ<A=L=;@FGDG?AK;@=2=AL=J=FLOA;C

DMF?<=K(=<A=FKL9F<GJL=K^KL=JJ=A;@?=K=LRLO=J<=FCGFFL= - +:A=L=L @G@= EH>9F?KIM9DALaL HGJL9:D=F/1 EH>9F? @d@=J=+JG?J9EENA=D>9DLMF< EMDLAE=<A9D=5MK9LR<A=FKL= $E'9M><=K%9@J=K

OMJ<=FNGF2=KLF9;@ *KLRMFa;@KL<A=?JGZ=FdKL=JJ=A;@AK;@=F9DDMF?KJaME=9M>- + EH>9F? ME?=KL=DDL  :AK  OAJ< <A= - + 1=JKGJ?MF? >Da;@=F<=;C=F< K=AF  =J *-! @9L ?=E=AFK9E EAL K=AF=F +9JLF=JF @d;@KL=F 2=JL <9J9M> ?=D=?L  <=F 0EKLA=?>eJ<A=:=LJG>>=F=F#9MK@9DL=KG=AF>9;@OA=Ed?DA;@RM?=KL9DL=F  A=0EKL=DDMF?=J>GD?LAE*;?G>53EF 1=J>9@J=F <9K@=AZL=K?9:=AF=E=@J

Od;@A?= _:=J?9F?KH@9K= EAL 9F9DG?=E MF< <A?AL9D=E +9J9DD=D:=LJA=: MF< <9RM =AF= ME>9KK=F<= $F>GJE9LAGFKC9EH9?F= EAL .HGLK  $F>GJE9LAGFKN=J

9FKL9DLMF?=FMF<ME>9F?J=A;@=J=JA;@L=JKL9LLMF?AF<=F(=<A=F<=K*-!AF -9<AG !=JFK=@=FMF<*FDAF= 

 

 =0018#6+10    ='4#06914670)

'561%*'05%*#4(70&261 #6'

5>3@/"$#$+<>/8<C:>9A9<5= "/32?818+-2?8./=6N8./<8#>+8.  

 )A=<=JdKL=JJ=A;@ *:=JdKL=JJ=A;@ .L=A=JE9JC  2A=F  &aJFL=F  /AJGD   .9DR:MJ?  MJ?=FD9F<  1GJ9JD:=J? 

        

        

        

*-!$"$/'&9JL=F9CLAN?=K9EL 

        

 

 

 



 









 

#% '+-$KL<A=:CeJRMF?>eJX @F7D@7F'DAFA5A>+7>7H;E;A@S 9DKG=O=?L:AD<e:=J <9K$FL=JF=L =J*-!:A=L=Le:=J<A=2=:KAL=;BFH &) 3F9MK?=Oa@DL=9CLM=DD= 1A<=G:=ALJa?= .GEALCdFF=FOA;@LA?= J=A?FAKK= KH9FF=F<=(GE=FL=MF< <A=OA;@LA?KL=F$F>GJE9LAGF=F<=K/9?=KJMF<ME<A=0@Je:=J<9K$FL=JF=L ?=K=@=FO=J<=F =J*-!NGDDRA=@LEALK=AF=F '+- F?=:GL=F=AF=OA;@LA?= .=JNA;=D=AKLMF?VFA;@LFMJ>eJ<9KBeF?=J=+M:DACME 

O9J=F  1A

<=G:=ALJa?=9:JM>:9JN?D 



 

<>!)<76,-5)6,

=J*-!KL=DDL9:=JFA;@L:DGZMKK;@FALL=RML9?=K9CLM=DD=F J=A?FAKK=FRMJ1=J

>e?MF? M><=J2=:K=AL=FH &) 3F A@67?3@6CdFF=FCGEHD=LL=.=F<MF?=FRM =AF=E:=DA=:A?=F5=ALHMFCLCGFKMEA=JLO=J<=F =J*-!AKLAE5M?=<=KMK:9MK NGF&) 3FRMJEMDLAE=<A9D=F+D9LL>GJEME=AF=KLaJC=J=1=JF=LRMF?NGF/1MF< *FDAF=:=Ee@L 9KF?=:GL<=JGF <=E9F<9:JM>:9J=F.=F<MF?=FOMJ<=<=E

=FLKHJ=;@=F<O=AL=J9MK?=:9ML .=AL

CdFF=FVF=:=F<=J1;MF<<=F G@67E>3@6:7GF7 .=F<MF?=FV9M;@<A=17;F;?;>6ME 0@JKGOA=7GF7;@ XEF7DD7;5:9:?=JM>=FO=J<=F 5MKaLRDA;@OMJ<=FRM<=F.=F<MF?=F<=J?JGZ=F /1 N=FLK3@5;@9*F3DE XEF7DD7;5:EE5:>75:F7EF7DGFA83:D7DMF<$GE;53>;7 *:AIME>9F?J=A;@=EMDLAE=<A9D=.H=;A9DK9F?=:GL=F   


#6?&'4 ')<74/7.6+/'&+#.'0.#66(14/

G2= *=+2.=.7@2;-.6>+524>6.27*4=> .55.<>6/*<<.7-.<>7-6.-2.7*-N:>*=.< 7527.*70.+8=D

%,*/.+0+".

&."(0,.+)&+"1+!+"1""!&"+

0EK=AF=E?=K=LRDA;@=FM>LJ9?RM=FLKHJ=;@=F  ?=KL9DL=L<=J*-!9DKEG<=JF=JE=<A9D=JA=FKLD=AKL=J MF<dKL=JJ=A;@AK;@=K'=ALE=<AMERMKaLRDA;@RM-9<AG MF<!=JFK=@=F9M;@AE$FL=JF=L=AF9CLM=DD=K ME>9K

K=F<=KMF<E=<A=F9<aIM9L=KF?=:GL (AL&) 3F =J>eDDL<=J*-!=:=FKG<A= JO9JLMF?K@9DLMF?<=K +M:DACMEK9F=AFd>>=FLDA;@ J=;@LDA;@=K*FDAF=9F?=

:GL <A=HJAEaJAFHJG>=KKAGF=DDMF<BGMJF9DAKLAK;@ ?=KL9DL=L=FMF<J=;@=J;@A=JL=F+JG<MCL=FDA=?L   +JGR=FL-=A;@O=AL=X.'>GE  ,M9JL9D    (AG ,@;CG7>;7@FEMF<(AG -;E;FEX.  %MFA R=A?=F<=MLDA;@ OA=HGKALAN<A=0K=J$FF=F &) 3F:=MJL=AD=F 2=K=FLDA;@=FFL=AD9E J>GD? @9:=F<9:=A<A=J=<9CLAGF=DD=FF?=:GL=V =FL

>A=D=FHJG(GF9L<MJ;@K;@FALLDA;@+JGR=FLMF< <9EALCF9HHF=MF5=@FL=D9DD=J'397 ?BD7EE;A@E 9M>.=AL=FEALJ=<9CLAGF=DD=EGFL=FL 

KH=RA=DD=2=:KAL=KRM<=F&) +:7?7@E5:I7DBG@= F7@MF<<=JNGE#747@E?;@;EF7D;G?9MK?=@=F<=F $FALA9LAN=7D^=A>A9;E5:7GV346DG5=HJaK=FLA=JL MF<KGR9@DJ=A;@=F?=K=DDK;@9>LDA;@J=D=N9FL=F/@=

E=Fe:=J<A=9CLM=DD==JA;@L=JKL9LLMF?@AF9MK :J=AL=J-9ME?=Oa@JL A=2=:KAL=K<=K&) "G@ 67@6;7@EF7EMF<<=K&) 'G4>;=G?ED3FEKL=@=F F9;@=AF=E-=D9MF;@9DKEG<=JF= HM:DACMEKF9@= MF<K=JNA;= GJA=FLA=JL=*FDAF= FD9M>KL=DD=FRME *-!RMJ1=J>e?MF?

$F@9DLDA;@OMJ<= EAL<=JKLaJC=J=F1=JK;@JaF

CMF?NGF/1 MF<-9<AG $F@9DL=FEAL&) 3FMF<<=E MK:9MNGF&) 3FRMJEMDLAE=<A9D=F+D9LL>GJE :=?GFF=F ME<=EKL=A?=F<=F=<9J><=K+M:DACMEK F9;@R=AL MF<GJLKMF9:@aF?A?=J)MLRMF?NGF*-!

F?=:GL=FEAL=FLKHJ=;@=F<=FCGKL=FDGK=F.=JNA;=K -=;@FMF?RMLJ9?=F A=*FD73?;@93@974AF7NGF *-! .=F<MF?=FOMJ<=F=JO=AL=JL .GF<=J=N=FLK +9HKL:=KM;@ #;H7 *FD73?ENGF.HGJL=N=FLK=L; MF< /1 .@GOKOA=3@5;@9*F3DEG<=J$GE;53>;7*:AI EMDLAE=<A9DMFL=JKLeLRL (ALMLR=F<=FF=M=F.=F

<MF?KO=:KAL=KOMJ<=F9MZ=J<=E/1 .=F<MF?=F GFDAF=:=?D=AL=L  OMJ<=F<9Je:=J@AF9MK

=AKLJMCLMJ=DD=FMF<H=JKGF=DD=F)=M=JMF?=FAF<=J ;D7=F;A@8_D&@>;@7G@6@7G7$76;7@MF<<=J/G;@L=J

?=K=DDK;@9>L&)&@>;@7G@6+7>7F7JF?4A" CGFFL=KH=RA=DD<=JFL=ADNGF!J9M=FAF!e@JMF?KHGKA

LAGF=F:=KGF<=JK<=MLDA;@=J@d@LO=J<=F$F<=JAJ=C

LAGFKAF<AFROAK;@=F%MFA <A=#aD>L=<=J!MFCLAG

F=FEAL!e@JMF?KN=J9FLOGJLMF?EAL!J9M=F:=K=LRL AF <=J/G;@L=J?=K=DDK;@9>LO=J<=FKA=:=FNGFROdD>:L=A

DMF?=FNGF!J9M=F?=D=AL=L $FK:=KGF<=J=<A=&) &@>;@7G@6+7>7F7JF?4A"KHA=?=DL<9Je:=J @AF9MK O9K<=FFL=AD9F(AL9J:=AL=J$FF=FEAL(A?J9

LAGFK@AFL=J?JMF<:=LJA>>L 9M;@@A=J<A=?=K=DDK;@9>LDA

;@=5MK9EE=FK=LRMF?^KL=JJ=A;@KOA<=J  

M;@<=J&)+#+/+DA=>=JL= AF:=Oa@JL=J !GJE (AG '=K=J$FF=FHJG2G;@=9CLM=DD=$F>GJ

E9LAGFK MF<.=JNA;=9F?=:GL=(9JCL9FL=ADNGF  +JGR=FL =JF=M=<A?AL9D=MF<EMDLAE=<A9D=/1

5MK9LR<A=FKL&)&"$G>F;+7JF?AF?AF<9K=JKL=%9@J <=K-=?=D:=LJA=:K

%,*/.+0+".

 


G,1+27-*?87P+.;C.>0=-*<<.<27&>4>7/= >672,1=6.1;8-.;@.720.;0.1=*5<>6-2. .>98<2=2872.;>70>7-<=N7-20.%.2=.;.7= @2,45>70-.< *-28<C>66>5=26.-2*5.7 2.7<=5.2<=>70<>7=.;7.16.7D

)#."!."&". :.,$.** %"#

2GRM:J9M;@=FOAJ=AF&MDLMJJ9<AGA=K=!J9?=KL=DDL KA;@>eJ^?De;CDA;@=JO=AK=FA;@L =J J>GD?:=9FL

OGJL=LKA= 0F< J>GD?:J9M;@L=K =FFAFEALL=F MFK=J=J.H9Z?=K=DDK;@9>LMF<=AF=KCD=AF=F(9JCL=K OA=^KL=JJ=A;@CGEE=F:=A/9?=KJ=A;@O=AL=FMFL=J =AF=E+JGR=FLOA=:=ANA=D=F=MJGHaAK;@=F&MDLMJJ9

<AGKKGDa;@=JDA;@=+M:DACMEKR9@D=F@=J9MK <9KK NGDDEMF<A?=&MDLMJ9FK9?=FJ9K;@RMK;@E9D=F'AH

H=F:=C=FFLFAKK=FEMLA=J=FOeJ<=F  A=5MCMF>L=AF=KKGD;@=F&MDLMJJ9<AGKOaJ=AF!J9?= ?=KL=DDL :=J?=F9MME<A=K=5MCMF>L?=@L=K  2=JAF5MCMF>LFMJE=@JK=F<=L @9LC=AF= =JEMKK KA;@EALK=AF=J?=K=DDK;@9>LDA;@=F=<=MLMF?KDGKA?

C=AL9:>AF<=FMF<KA;@AFAEE=JCD=AF=J=)AK;@=F!GJ

E9L=RMJe;CRA=@=F 9FF@9LE9F9:=JAFE=AF=E 1=JKLaF<FAK<=F.AFF=AF=K&MDLMJJ9<AGKN=J>=@DLMF< C9FF-9<AGFMJ9DK9J:=ALKL@=J9H=MLAK;@=KG<=J>AF9F

RA=DD=K#G::Q:=LJ=A:=FVG<=J9DKEAKKAGF9JAK;@=K 1=@AC=D=AF=J:=KLAEEL=F$<=GDG?A= 9K?ADL>eJ9DD=.=F<=J 9:=J>eJ<9K&MDLMJJ9<AGEAL

L=D=MJGHaAK;@=J+Ja?MF?AF:=KGF<=J=E(9Z O=AD FKHJe;@=MF<&GKL=F=FLKHJ=;@=F<G<=J>eJNA=D= =:=FMF=FLKHJ=;@=F<@G;@KAF< 0. 9E=JAC9FAK;@=K -9<AGAKL>eJ<A=K=+JG:D=E9LAC=AF?ML=K=AKHA=DV OA=FaEDA;@=AF=E=<A9D="JGZE9;@LF9;@=MJGHaA

K;@=E(9ZKL9:9M><=F.L9LMK=AF=K9E:ALAGFA=JL=F FLOA;CDMF?KD9F<=KKAFC=FC9FF<A=AF MJGH9:GG

E=F<="9LLMF?^DEB;7>OAJ<AF<=F0.FMJE=@JAF (MK==FHJG<MRA=JL AF.=F<=J <=JFA;@LAF<=FE=<A9D=F/=M>=DKCJ=AK NGFKL=A?=F<=FMK?9:=FMF<KAFC=F<=J=<=MLMF? VE9FCdFFL=9M;@K9?=FNGFKAFC=F<=F AFF9@E=F

 =0018#6+10    ='4#06914670)

+'"7-70(6&'57.6744#&+15

MF<KL=A?=F<=J$JJ=D=N9FRV?=J9L=FOADD <=JEMKK =J@=:DA;@=FKLJ=F?MF?=FMFL=JF=@E=F >eJ. $) +M:DACMEAFL=J=KK9FLMF<D=LRLDA;@OA;@LA?RMK=AF  (9FCdFFL==K9M;@)_/5'$#F=FF=F 9K?ADL9M;@ >eJ=AF=F&MDLMJK=F<=JAF>eJEA;@>eF>J=D=N9FL=F +MFCL=F :;<-6;EMKK<9K+JG<MCLKLAEE=F 9DKG<9K+JG

?J9EEKGDDME>9KK=F<MF<?=F=J9DAKLAK;@X?9FR@=AL

DA;@SK=AFMF<<9@=J<A=>eJ<A=5A=D?JMHH=J=D=N9F

L=F/@=E=FMF< EGLAGF=F:=Je;CKA;@LA?=F  KKGDD B?-1<-6;AF@9DLDA;@MF<>GJE9D?D=A;@9FKHJM;@KNGDD MF<,:1<<-6;MFN=JO=;@K=D:9JK=AF  KKGDDL=KA;@ >1-:<-6;<MJ;@=AF=FH=JE9F=FL=F2=;@K=DNGF .H9FFMF?MF< FLKH9FFMF? NGF2GJLMF<(MKAC 9MKR=A;@F=F 0F<=KKGDD=.K6.<-6;R=AL?=EaZMF< K=JNA;=GJA=FLA=JLK=AF 2=FF=AFE9D<9KX+JG<MCLSKLAEEL AKL9DKFa;@KL=K <=JX1=JC9M>S<=KK=D:=FNGFa@FDA;@=J=<=MLMF?  9?=@L=KK=D:KLN=JKLaF<DA;@ME:=<=ML=F<E=@J9DK FMJMEX2=J:MF?S 2=FFKA;@K;@DA=ZDA;@<9K5A=DHM:DACMEEAL<=E+JG

?J9EEMF<<=E$E9?=<=K+JG?J9EEKA<=FLA>ARA=JL O9K=FLK;@A=<=FE=@JAKL 9DK<9KK=KA@E=AFA?=J

E9Z=F?=>aDDL <9FFAKL<A=O=K=FLDA;@KL=1GJ9MKK=L

RMF?=J>eDDL <9KK=K. $).=F<=JO=J<=FC9FF 0F< <9FFOAJ<=K9M;@NGFK=AF=E.=F<=JJ=>D=P9JLA? E=@JN=JD9F?=F9DK.=F<MF?=F KOAJ<9DKG=AF= FLOA;CDMF?=AFK=LR=F <A=*F AJ

CLANALaL=FEALKGD;@=FXG>>9AJSMF<K=D:KLN=JKLaF<

DA;@9M;@XGFDAF=SN=J:AF<=LMF<RM=AF=E(=<AME F=M=J,M9DALaLMF<?=K=DDK;@9>LDA;@=J-=D=N9FRE9;@L  )A;@LE=@JMF<FA;@LO=FA?=JOADD^ 

)#."!."&".

 


=.<:)/    

  

  

  

   

-1;<=6/ 











/J9FKH9J=FRMF<*>>=F@=AL  &GFL9CLRME+M:DACME  &JALAC9F=JC=FF=F  !J9?=F:=9FLOGJL=F +JG<MCLAF>GJE9LAGFMF<&MF<=F

K=JNA;=>eJ"=:e@J=FR9@D=J$FF=F 

-0:?-:< #!"!( .K:-16-J..-6<41+0-=./)*-

G<025=-2..<87-.;1.2=-.<O//.7=52,1.7 >7-/>74<<.27.217+.0;P7-.7-.7.2=2-..7 <.27.27=.;6.-2N;.>74=287>7-<.27..7=<9;.,1.7-.7.2<=>70<+.2=;N0.C>4866>72 C2.;.7*5<8262*58062=-.;.<.55<,1*/=C><.27D =/;2.-*;;.7#72?.;<2=N=&P;2,1




^>>=FLDA;@ J=;@LDA;@=J-MF<>MFCAKLC=AF="=@=AEOAKK=F

K;@9>L  J>GD?J=A;@=&GEEMFAC9LAGF:=<=ML=L>eJ<=F *-!9M>&JALACJ=9?A=J=FMF<LJGLR<=EN=JDaKKDA;@&MJK @9DL=F &MF<=F<A=FKLMF<=K;@O=J<=E9F9?=E=FL9DK .=JNA;=>eJ9DD=*-! 0K=J$FF=F  AF=+JG<MCLAF>GJE9LAGF<9Je:=J O9Kd>>=FLDA;@ J=;@LDA

;@=J-MF<>MFCL9LKa;@DA;@D=AKL=FC9FF

:)3<1;+0-:=<B-6 

$@J=!J9?=Ra@DL $@J=&JALACRa@DL $@J=(=AFMF?Ra@DL




4+'06+'46#/'/'+091*.?(E4#..'

G866.;C2.551.2J=8;2.7=2.;=*6;8/2=)O//.7=52,1;.,1= 52,11.2J=8;2.7=2.;=*6.6.27@815)2..27.79;8-> C2.;.7-.6.7=<9;.,1.7-.@277./P;21;.9;2?*=.7 20.7=P6.;77.7-2.*7-.;.7.1;@.;=/P;-2..<.55 <,1*/=E*>/.>-.>=<,1 >+52,$*5>.D

&1/0.,)  .("0&+$1+!,**1+&(0&,+

%M?=F<DA;@=KMJ>=FLa?DA;@DaF?=JAE)=LR 9DKKA= >=JFK=@=F $F<=J2=DL<=K2=: @9LB=<=JHJ9C

LAK;@>J=A=F5M?9F?RM$F>GJE9LAGF=F9DD=JJL .ALG 3>EA@A5:^887@F>;5: D75:F>;5:7D)G@68G@= >J9?=F KA;@E9F;@==9EL$FF=FAFJeKK=D *<=J?=F9M=J ?=K9?LJeKK=DOAJ<<9KNGF1=JD=?=JF9MKF9@=RM B=<=E=MJGHaAK;@=F'9F< 9DKG9M;@9MK^KL=JJ=A;@ FA;@LRM>aDDA?9M;@e:=J<=FX0EO=?S<=K... ?=>J9?L A=FLOGJLAKL<=FC:9J=AF>9;@MF<KL=@LAF^KL=J

J=A;@K=@JCD9J>GJEMDA=JLAE&) 7E7FLX @D8_>>G@9 E7;@7EG8FD39E:3F67DXEF7DD7;5:;E5:7)G@68G@=7;@ 6;887D7@L;7DF7E7E3?FBDA9D3??HA@ @8AD?3F;A@ "G>FGD,@F7D:3>FG@9G@6*BADFS9FRM:A=L=F +JG

?J9EE>eJ!J9M=FMF<(aFF=J %MF?=MF<DL= JE= MF<-=A;@= DL=AF?=K=KK=F=MF<)=MRM?=O9F<=JL= =L; V9DKGX+JG?J9EE9F?=:GL=>eJ9DD=SMF<RO9J MF?=9;@L=LA@J=JAD<MF?MF<#=JCMF>L A@J=KKGRA9D=F .L9LMK   29JME<=Jd>>=FLDA;@=M>LJ9?9DK J?aFRMF?RME &GEE=JRA=DD=FAE*FDAF=:=J=A;@FMFHDdLRDA;@C=AF=F +D9LRE=@J@9:=FKGDD K9?=F<A=+JAFLCGDD=?$FF=F 9:=JFA;@LG<=JRMEAF<=KLFA;@L?=JF= A=AKCMKKAGF e:=J<A=9K=AFK:=J=;@LA?MF?KL9JC=J^>>=FLDA;@

-=;@LDA;@=JAKLB=<=F>9DDKAFNGDD=E"9F?=VMF<<=J 1=JKM;@<=KCGFR=JLA=JL=FX(9<A?E9;@=FKS9M;@ 

 

9K"=>e@D <9KK<A=1=JD=?=JMF<A@J=.=F<:GL=F FA;@L9DD=AF<A=.GJ?=ME<A=J=AF='=@J=<=K<M9D=F +JAFRAHK9FLJ=A:L LJe?LC=AF=K>9DDK .L=@L<G;@>=KL  <9KK<A=NA=D:=K;@OGJ=F=FX*FDAF= "=K;@a>LKEG<=D

D=SVRM=JKL=AF:GG<=J=AF=CD=AF=&GFLG9::M;@MF? MF<<9FF$F>GJE9LAGF .HGJL 0FL=J@9DLMF?  V ?=F9MKGD9F?=FA;@L>MFCLAGFA=J=FO=J<=F KGD9F?= <A=^>>=FLDA;@ -=;@LDA;@=FAFNA=D=F'aF<=JF@=JNGJJ9

?=F<=,M9DALaL=F?=F9MAF<A=K=F=J=A;@=FCGKL=F

>J=A9F:A=L=F (=AKLAF=AF=JJ=AL=MF<AF.L9F<9J<K  <A=<A=.=AL=F<=JKG?=F9FFL=FXHJAN9L=F&GFCMJ

J=FRSNA=D>9;@ME'aF?=FK;@D9?=F  =E(9JCL?=K=LR>GD?=F<K;@Da?L<9Kd>>=FLDA;@

J=;@LDA;@=X=KK=J=S<9KHJAN9L=X"ML=SMF<C=AF 2MF<=J 9M;@<A=2=J:=CMF<=F:M;@=FDA=:=JF9;@

?=>J9?L=.AL=KVMF<<9KaJ?=JLOA=<=J<A=1=JD=?=J  F?=KA;@LK<=JRO=A>=DDGKNGJ@9F<=F=FX@9F<>=KL=FS OAJLK;@9>LDA;@=F$FL=J=KK=FVK;@DA=ZDA;@KAF<<A=5=A

L=FK;@D=;@LMF<<A=&GFCMJJ=FRME<9K"=D<<=J 2=J:=CMF<=F?JGZVOAJ<F9;@<=EX.L99LSMF< XN=J:A=L=FS?=JM>=F 9:=A@9L<9KAF<=FRO9FRA?=J%9@J=F<=KN=J?9F?=

F=F%9@J@MF<=JLKAF"JGZ:JAL9FFA=FEAL<=J :=?JeF<=L=+JAFRAH LGD*;5:7DEF7>>G@967E8D7;7@G@6 G@97:;@67DF7@$76;7@LG93@9E8_D3>>77;@^887@F>;5:


='4#06914670) =4#052#4'0<    D75:F>;5:7E @EF;FGF7;@LGD;5:F7@ AE*FDAF=R=AL9DL=J E=@J"eDLA?C=AL<=FFB=  =FF<A=@aM>A??=aMZ=JL=1GJKL=DDMF? O=ADF9@=RM B=<= J$F@9DL=HJG<MRA=J=FMF<AFK)=LRKL=DD=FC9FF  K=A=AF=JL<=EGCJ9LAK;@=(=<A=FJ=NGDMLAGFAE "9F?= AKL?D=A;@=JE9Z=FK;@dFOA=F9AN =A0AG+G 47 .;=;B76;3G<=J<=JG88;@9FA@'AEFE9;@=FRO9J AF<=J-=?=D<A=X&GFKME=FL$FF=FS<=F$F@9DL <A= BGMJF9DAKLAK;@=+J9PAK<=K.A;@L=FK MKOa@D=FKMF< $FL=JHJ=LA=J=FKNGF$F>GJE9LAGF>aDDL9:=J9MKV<A= =DA=:A?C=AL<A=K=K+JAFRAHKAKL?JGZ <A=1=JDaKKDA;@

C=AL?=JAF?  =MLDA;@=J9DKOAJ=KLMFC9FFE9F=KFA;@LRMEMK

<JM;C:JAF?=F%9 OAJKAF<<9>eJ <=F2=LL:=O=J: ROAK;@=F<=FCGEE=JRA=DD=FF:A=L=JFMF<MFK X^>>=FLDA;@ -=;@LDA;@=FS?=K=LRDA;@?9FRHJaRAK=RM J=?=DF 2AJ:=@9JJ=F9:=J9M;@<9J9M> <9KK<9:=A<A= MFL=JK;@A=<DA;@=F9K=AFKRO=;C=FA;@L9MK<=E DA;COAFC=DN=JDGJ=FO=J<=F&GEE=JRA=DD@=AZLXAD; 7@F;7DF3?'DA8;FS d>>=FLDA;@ J=;@LDA;@@=AZLXAD;7@ F;7DF3?7?7;@IA:>S A==AF=FHJG<MRA=J=F<=E

=FLKHJ=;@=F<"=OAFF=>eJA@J=HJAN9L=F A?=FLe

E=J$FF=F <A=9F<=J=F(=@JO=JL>eJ<A="=K=DD

K;@9>LV9M>)=M<=MLK;@=*41+%)4=-  0F<?=F9M9F<A=K=E+MFCLEMKK=AF=K=D:KL:=OMKK

L=(9JC=FH>D=?=MF<$E9?=9J:=AL=AF=Kd>>=FLDA;@

J=;@LDA;@=F(=<A=FMFL=JF=@E=FK9FK=LR=F 2AJEeK

K=F<=MLDA;@K9?=F OGJAF<=J'G4>;5-3>G7DA=?LMF< O9JMEMF<OGRMOAJ?=:J9M;@LO=J<=F B9L9LKa;@DA;@ >eJ=AF=<=EGCJ9LAK;@="=K=DDK;@9>LMFN=JRA;@L:9J KAF<  2AJEeKK=F<=F0FL=JK;@A=<ROAK;@=F+JG>ALGJA=FLA=

JMF?MF<"=E=AFOG@DGJA=FLA=JMF??9FRHJaRAK=@=J

9MK9J:=AL=F MFK=J=F)MLR=F>eJ<A=DD?=E=AF@=AL <=>AFA=J=FMF<:=K;@J=A:=F <=F.L=DD=FO=JL>eJ<A= dKL=JJ=A;@AK;@=$<=FLALaL>=KLE9;@=FMF<KG<=F 'G4>;5-3>G7LJ9FKH9J=FLMF<CGEEMFARA=J:9J E9;@=F  K?ADLNA=D&J9>L &J=9LANALaLMF<$F@9DL<9>eJ 9M>RMO=F<=F :=AB=<=JMF<B=<=EMFK=J=J&MF<$F

F=F<=F!GJL:=KL9F<MF<<A=0FN=JRA;@L:9JC=AL<A=

K=K0FL=JF=@E=FKRMD=?ALAEA=J=FVX?>;74EF7@ &)SAKLMF<EMKKE=@J9DK=AFD9AEK=AFVMFK=J 5A=DAKL<A=K=K<9M=JF<==C=FFLFAK=AF=J?JGZ=F (=@J@=AL<=J^KL=JJ=A;@=J$FF=F 9RMO=J<=FOAJMFKAF5MCMF>LN=JKLaJCL9M;@MFK=

J=J=A?=F=F&GEEMFAC9LAGFKEALL=DMF< Ed?DA;@C=A

L=F:=<A=F=FEeKK=F _:=JLJA=:=F=&=MK;@@=ALAKL @A=JNdDDA?>=@D9E+D9LR= =FFO=FFOAJFA;@Le:=J MFK=J=.LaJC=FKHJ=;@=F KGOAJ<=K9M;@FA=E9F< 9F<=J=JLMF 

&1/0.,)






'4#056#.670)'0#.51//70+-#6+105/+66'.

G>*52=N=->;,1K//.7=52,14.2=+C@.27:>*52=*=2?.; 87=*4=C>>7<.;.7O;.;77.72<=+.2K.27C.7= ;*5.;;/850<*4=8;D

)"*"+/,-"06(5 :.("0&+$

,M9DALaL<MJ;@^>>=FLDA;@C=AL:RO =AFIM9DAL9LAN=J &GFL9CLRMMFK=J=F#dJ=J$FF=FAKL:=A^=AFR=FLJ9D=J  J>GD?K !9CLGJ  AF.=F<=J <=JF=:=F<=ECD9KKA

K;@=F(=<AME)36;AAF<=J1=J?9F?=F@=AL=AF=1A=D

R9@D9F&GEEMFAC9LAGFK MF<=?=?FMF?K=:=F=F =FLOA;C=DL@9L  #=ML=AKLNGJ9DD=E<=J^ *>> AJ =J=A;@=AFO=K=FLDA

;@=K D=E=FL<=J"=K9ELCGFR=HLAGFNGF^ 2A=9M;@ AF9F<=J=F=J=A;@=F<=K*-!KL=@=FEG<=JF=&MF<=F

:AF<MF?K $FKLJME=FL=AE1GJ<=J?JMF<  AF9CLM=DD=K MF<EG<=JF=K JK;@=AFMF?K:AD<9M;@9MZ=J@9D:<=J *F AJ (d?DA;@C=AL=FAKL=AFO=K=FLDA;@=K5A=D =?=?

FMF?AEX^>>=FLDA;@=F-9MESMF<<AJ=CL=&MF<=FCGE

EMFAC9LAGFKL=@=FAE(ALL=DHMFCL  AF=O=AL=J=.LaJ

CMF?<A=K=J$FKLJME=FL=AKL9M;@RMCeF>LA?=AF=K<=J O=K=FLDA;@=FKLJ9L=?AK;@=F5A=D= ^AKL:=A9DD=FHJG?J9EEJ=D=N9FL=F1=J9FKL9DLMF?=F HJaK=FLMF<AKL<=J(=<A=F MF<&GGH=J9LAGFKH9JLF=J >eJ&MDLMJAFKLALMLAGF=FMF<&MDLMJN=J9FKL9DL=J$FF=FAF ?9FR^KL=JJ=A;@ #=ML=O=J<=F:=J=ALKE=@J9DK  &MDLMJN=J9FKL9DL=J$FF=F9CLAN:=LJ=ML^KA=@LKA;@ @A=JAF=JKL=J'AFA=9DKX&GEEMFAC9LGJSMF<+9JLF=J >eJ=AF=9M;@J=?AGF9D= FLOA;CDMF?CMDLMJ=DD=JCLANA

LaL=F )=:=F<A=K=J9CLAN=F-GDD=>eJ<A=dKL=JJ=A;@AK;@= &MDLMJO=J<=F9:=J9M;@=A?=FKLaF<A?=1=J9FKL9D

LMF?KCGGH=J9LAGF=FEALCMDLMJ=DD=F AFJA;@LMF?=F :RO <=JdKL=JJ=A;@AK;@=F2AJLK;@9>L=FLOA;C=DL5A=D AKL=K@A=J <=EAFL=J=KKA=JL=F+M:DACMEAF=JKL=J 'AFA=F=M=1=J9FKL9DLMF?K>GJE=F9FRM:A=L=F  

DK=AKHA=DEd;@L=A;@@A=J<=FX $GE;=E3>A@ 9F>e@J=F A=K=1=J9FKL9DLMF?KK=JA=OMJ<=9FDaKKDA;@  !3:D7X >eJ<=F#=J:KL =FLOA;C=DL $F&GGH=

J9LAGFEALCMDLMJ=DD=F$FKLALMLAGF=FAF9DD=FF=MFMF

<=KDaF<=JFMF<<=J&7EF7DD7;5:;E5:7@%3F;A@3>43@= OMJ<==AF==FLKHJ=;@=F<=&GFR=JLJ=A@=>eJ&9EE=J

EMKAC9F?=:GL=F^#dJ=J$FF=F9MK?9FR^KL=JJ=A;@ CGFFL=FAFA@J=EMF<=KD9F<<9K"=FJ=CGKL=FDGK C=FF=FD=JF=F 9K=KGF<=J=<A=K=J&GFR=JL=O9J 9:=JKA;@=J9M;@<A=9F?=:GL=F=+JaK=FL9LAGFK>GJE _:=J=AF==FLKHJ=;@=F<=^(G<=J9LAGFOMJ<=<MJ;@ <9K+JG?J9EE?=>e@JLHJG>=KKAGF=DD9M>:=J=AL=L= $F>GJE9LAGF=FRMMF<ME<A=CL=MJ$FF=FMF<<=J=F 9MK?=Oa@DL=(MKACKLe;C=K;@9>>L=F=AF=F:=KGF<=

J=FMF<:=BM:=DL=FX(=@JO=JLS  )=:=F<=E+M:DACME@9:=F9:=J9M;@MFK=J=+9JLF=J e:=J<A=K=:=KGF<=J=!GJE<=J&GGH=J9LAGF=AF=F X(=@JO=JLS=J>9@J=FRMKaLRDA;@RM<=FCD9KKAK;@=F &GEEMFAC9LAGFKD=AKLMF?=FCGFFL=FOAJ>eJMFK=J= &MDLMJH9JLF=JAF<=FMF<=KDaF<=JF=M=MF<>eJ<A= 5MCMF>LAFL=J=KKA=JL=5A=D?JMHH=F?=OAFF=F !eJ<A= &7EF7DD7;5:;E5:7%3F;A@3>43@=OMJ<==AF=RMKaLRDA

;@=+D9LL>GJE?=K;@9>>=F A@J==AFRA?9JLA?= @EFDG ?7@F7@E3??>G@9RMHJaK=FLA=J=F9K+JG?J9EE <=KX $GE;=E3>A@:=KLJ=AL=F9MKK;@DA=ZDA;@&eFKL

D=J$FF=F:RO &eFKLD=J?JMHH=FEAL$FKLJME=FL=F<A=

K=J&7% .9EEDMF? 0F<@A=JK;@DA=ZLKA;@<=J&J=AK=FF@AKLGJAK;@O=JL

NGDD=F$FKLJME=FL=FRM:=?=?F=FAKLOA=<=JME=AF AFL=J=KK9FL=JX(=@JO=JLS>eJ<9K+M:DACME

)"*"+/,-"06(5


G.;1;0.2C-.<>7-.7-2.7<=".*6<2<=.<27-2?2->.55 1.5/.7C>4O77.7#7-@.77@2;-2.;*0.7>7<.;.; &><,1*>.;77.7C>;&>/;2.-.71.2=+.*7=@8;=.74877=.7 8-.;27C.57.0*;27.27.;4874;.=.78=5*0.>7=.;<=P= C.74877=.71*+.7@2;>7<.;.7>/=;*0.;/P55=D

"00&+./ %)(  1+!"+!&"+/0

X=AE&MF<=F<A=FKL9FJM>=FSKL=@LK=ALNA=D=F%9@J=F 9DK@A>>J=>eJB=F=/@=E=F <A=^KL=JJ=A;@:=O=?=F MF<=JJ=?=F *LLG( 5QC9FK*F33FEAB7D7FF7 <A=AE %9@J<A=/=D=>GF9FD9?=AE*-! 5=FLJMERME.LADD

KL9F<:J9;@L= AKL:AKRME@=MLA?=F/9?=AFD=?=F<a

J=K=AKHA=D>eJ<A=?=:9DDL=(=AFMF?MF<2ML <A= KA;@e:=J<=F*-!=J?A=Z=FC9FF 0F<9M;@@=ML=AKL =KKG <9KKX67D&)S <=JX&) "G@67@6;7@EFS <A= =JKL=F<J=KK=FKAF< MEKA;@e:=JN=JE=AFLDA;@= G<=JL9LKa;@DA;@=(AKKKLaF<=AE.L99L=^KL=JJ=A;@RM :=CD9?=F 2G@D9M;@<=K@9D:RA=@=F<A=$F>GJE9LA

GFKK=F<MF?=F<=K*-!AF=AF=Ee:=J<MJ;@K;@FALLDA

;@=F(9Z&GFL9CL=EAL<=E"G@67@6;7@EFF9;@KA;@  <A=K=DL=FEAL<=J(9;@9JL<=J=ALJa?= 9:=JG>L ?=FM?EAL<=Fe:=JEALL=DF<=F$F@9DL=FRMLMF@9:=F V<=J*-!9DK_:=J:JAF?=JNGF)9;@JA;@L=FAKL RM?D=A;@9M;@=JKL=FD9M>KL=DD=9DD>aDDA?=J<9EALN=J

:MF<=F=J&JALAC 5MJ1=J9FK;@9MDA;@MF?1GF<=F JMF< -=9CLAGF=F9M><A=17;F;?;>6 .=F<MF

?=FAE%9@J =FL>A=D=FE=@J9DK +JGR=FL9M> <A=&9L=?GJA=$7;@G@9VeJ?=J$FF=F <A==AF>9;@A@J =@9?=FG<=J(AKK>9DD=FEALHGDALAK;@=FG<=J?=K=DD

K;@9>LDA;@=F FLOA;CDMF?=FRMEMK<JM;C:JAF?=F OGDDL=F #A=JAKL<A=M>?9:=<=K"G@67@6;7@EF7EG>L C=AF=9F<=J=9DK<A==AF=KG>>=F=F*@JK *>L?=FM?9:=JKAF<=KFA;@L0FEMLG<=J\J?=J KGF

<=JF=LJG>>=F@=ALMF<<A=.M;@=F9;@-9L <A=RME /=D=>GFMF<AERMF=@E=F<=FMKE9ZRM$FL=JF=L MF< (9AD?J=A>=FD9KK=F "=J9<=<A=.=JNA;=K=F

<MF?=F<=K*-!RA=@=FG>LE9DK=AFCGFCJ=L=K$F>GJ

E9LAGFK:=<eJ>FAKF9;@KA;@ X'G4>;5*7DH;57SAE"G@ 67@6;7@EF:=<=ML=L<9@=J9M;@ 9M><A==<eJ>FAKK=

MF<)dL=<=J&MF<$FF=F<=L9ADDA=JL=AFRM?=@=F O=FF /@=E=F9MK<=J=A?=F=F'=:=FKKH@aJ=AF<=F.=F

<MF?=F<=K*-!9M>?=?JA>>=FO=J<=FMF<KGEALRME "=?=FKL9F<>eJ<=F"G@67@6;7@EFO=J<=F  KAKL<=J @J?=AR<=J(AL9J:=AL=J$FF=F<=K"G@67@6;7@EF7EAE _:JA?=Fe:=J +JGR=FL!J9M=F H=JKdFDA;@=FDA=

?=F9M;@:=KLEd?DA;@RM:=LJ=M=F #A=JDA=?L9M;@<A= /J=FFDAFA=RME9F;@=E(AL:=O=J:=J <=J<A=&MF<=F

:=LJ=MMF?9MKOAJLK;@9>LDA;@=F"JeF<=F=AFK;@JaFCL =J&) "G@67@6;7@EF@AD>L OG=JC9FF NGE9MK>e@J

DA;@=FOdJLDA;@=F5AL9L9MK.=F<MF?=Fe:=J<A=2=A

L=J?9:=NGFFKHJ=;@H9JLF=J$FF=F>eJAF<ANA<M=DD= .GJ?=FNGFFJM>=J$FF=F:AK@AFRMJME>9KK=F<=F MF<CGEH=L=FL=F0FL=JKLeLRMF? O=FFMFK=J=.=@=

J$FF=FEAL<=JEG<=JF=F/=;@FACMF<<9EAL<=E=AF

O9F<>J=A=F EH>9F?<=J!=JFK=@HJG?J9EE=VFA;@L FMJ<=K*-!VA@J=DA=:=)GL@9:=F  =J*-!DaKKLK=AF+M:DACMEFA;@L9DD=AF 

='4#06914670) =4#052#4'0<   

+'056#/70&'0#.57$.+%#.7'

=J*-!9DKF:A=L=JNGF1GDDHJG?J9EE=FV<9K :=<=ML=LRO9F?KDaM>A?9M;@ =KFA;@L9DD=FJ=;@L E9;@=FRMCdFF=F  &GFL9CL=AE%9@J  @9L<=J&) "G@67@6;7@EFAFCD <=E/=9ENGF&)   +#J=?AKLJA=JLVMF<=JDaKKL=KFA;@L<9:=A :=O=F<=F )=:=F<=E+#+*+AKL<=J&) "G@67@ 6;7@EF<9KOG@DOA;@LA?KL=$FKLJME=FL>eJ<A=+JG

?J9EEE9;@=J$FF=F ME<A=5M>JA=<=F@=AL<=K+M:DA

CMEKRM=JMA=J=FKGOA=<=KK=F=<eJ>FAKK=C=FF=F

RMD=JF=F 9K/=9E<=K"G@67@6;7@EF7E:eJ?L<9:=A >eJ<A=,M9DALaL<A=K=J!==<:9;C .;@D=A>=%=<=-=9CLA

GFOAJ<=J>9KKL RM?=GJ<F=LMF<KL=@LME?=@=F< 9DD=FN=J9FLOGJLDA;@=F=J=A;@=FRMJ1=J>e?MF? .G AKL?=Oa@JD=AKL=L <9KKKaELDA;@=9MK<=F&MF<=FJ=

9CLAGF=F?=OGFF=F=F$F>GJE9LAGF=F<A=JA;@LA?=F .L=DD=FAE*-!=JJ=A;@=FMF<2eFK;@=MF<FJ=?MF

?=F<=K+M:DACMEK AF?9F?AF<A=+JG?J9EE?=KL9D

LMF?>AF<=FCdFF=F &=AF$FHML?=@L<9EALN=JDGJ=F  

"00&+./ %)(






7#.+6C6<7/#%*.'5'0

G2.$.;7.=C>7062=-.6 ;80;*66>7--.; 2*58062=-.7O;.;77.7>7-!.1.;77.7.;02+= .27>7?.;@.,1<.5+*;.<;8->4=62=*,11*5=204.2= %2;@855.7O//.7=52,1;.,1=52,1.>*52=N=.;5.++*; 6*,1.7>7-/*<<+*;@2.-.;0.+.7D

%.&/0&+" %+<!)  + %)"/"

XGE67?97E3?F7@'AA>3@^887@F>;5: D75:F>;5:7?A@ F7@FE5:^B87@LG=^@@7@;EF7;@L;93DF;98_D7;@'D;@FBDA 6G=F 1G67?7D?^9>;5:F63E9>7;5:L7;F;9?;FE7:D788;L; 7@F7@)7EEAGD57@6;7'DA9D3??;@:3>F767E&)LGH7D 767>@ S =F"JMF<KL=AF>eJ<A="=:MJLKKLMF<=<=J&)@35: >7E7AE%9@J@9:=F<A=#dJ=J$FF=FMF<.=@=J$F

F=F<=K*-!K=D:KL?=D=?L DK<A=F>J9?=F:=AE &) "G@67@6;7@EFF9;@.=F<MF?KE9FMKCJAHL=FMF< <=J2MFK;@ "=@dJL=KMF<"=K=@=F=KF9;@D=K=FRM CdFF=F =AFK=@J@G@=K(9Z=JJ=A;@L@9LL=F =FL

K;@A=<<=J<9E9DA?="=F=J9DAFL=F<9FL"=J<9;@=J  9MK<=F?=>J9?L=KL=F.=F<MF?KAF@9DL=F=AF(GF9LK

E9?9RAFEALKL9JC=E.=JNA;=;@9J9CL=JRM=FLOA;C=DF V<A=&)@35:>7E7O9J?=:GJ=F  .=AL<=E@9LKA;@<9K(GF9LKE9?9RAFRO9JAF'9QGML  0E>9F?MF<'=K=J$FF=FR9@DKL=LA?O=AL=J=FLOA;C=DL  FA;@LB=<G;@K=AF=!GCMKKA=JMF?9M><A=#dJ=J$FF=F  MF<.=@=J$FF=FOeFK;@= A=d>>=FLDA;@ J=;@LDA;@= 9KAKAKL,M9DALaLK?9J9FLMF<=AF(=JCE9D>eJ0FL=J

K;@=A<:9JC=ALRM9F<=J=F/AL=DF9E(9JCL .;@GFAF <=F=JKL=FMK?9:=FAE%9@J OMJ<=F.=F<MF

?=FNGFMF<EAL<=E+@ADGKGH@=F.AJ&9JD+GHH=J  <=E=?JeF<=J<=J'G?GL@=J9HA=1ACLGJ !J9FCDMF< <=E)G:=DHJ=AKLJa?=J&GFJ9<'GJ=FR9:?=<JM;CLVAF <=J@G@=FM>D9?=NGF<MJ;@K;@FALLDA;@  P=EHD9J=F .=ALB=@=JKL=@=F<A=)eLRDA;@C=ALMF<1A=D>9DL<=K (9?9RAFKAE1GJ<=J?JMF<MF<HJa?=F<9EAL9M;@<=F J=<9CLAGF=DD=FDDL9? 5OAK;@=F<=F-=<9CL=MJ$FF=F <=J&)@35:>7E7MF<<=F*-! /1MF< -9<AG %GMJF9

DAKL$FF=F?A:L=K=AF==F?=1=JF=LRMF? KG<9KK<A= #A?@DA?@LK<=K+JG?J9EEK9MK9DD=F=J=A;@=F AF

?9F?AF<9K=?D=ALE=<AME&)@35:>7E7>AF<=F 1=J

D9?KD=AL=JJ #=AFR(GKK=JKA=@L<=F,M=DD<=K&) @35:>7E7 $F@9DLK9DK:=KGF<=J=F,*'9E(9JCL  

AF=J=?==RA=@MF?RM*-! &GFKME=FL$FF=FOAJ<:=A <=J&)@35:>7E7La?DA;@?=D=:L 29KAF<=J-=<9CLAGF  :=AE&) "G@67@6;7@EFMF<:=A.=F<MF?KN=J9FLOGJLDA

;@=FNGE+M:DACME:=KGF<=JK?=>J9?LMF</@=E9AF<=J ^>>=FLDA;@C=ALAKL OAJ<9M;@RME!APKL9JL=JAF<=J&) @35:>7E7 *-! -=<9CL=MJ$FF=FMF< PH=JL$FF=FKAF< &)@35:>7E7 &GDMEFAKL$FF=FMF<E9;@=F<9EAL=AF=K <=J?JdZL=F(GF9LKE9?9RAF=^KL=JJ=A;@KRMEEG<=J

F=F'=:=FK:=J9L=J9E+MDK<=J5=AL  !eJ<9K%9@J :=<=ML=L<9Kd>>=FLDA;@ J=;@LDA;@=F (=@JO=JLAFJMF< (AG ?=<JM;CL=F P=EHD9J=F  <=FCF9HH '=K=J$FF=FHJG(GF9LDL $76;3 @3>KE7

XF9;@?=D=K=FS@9:=F =KGF<=JK<A= +:7?7@E5:I7DBG@=F7">;?3I3@67> ";@67DMF< D@[:DG@9OMJ<=FKGFA;@LFMJAF!=JFK=@=FMF<#dJ

>MFC:=D=M;@L=L KGF<=JF9M;@NGF<=J&)@35:>7E7 :=?D=AL=LMF<CGEHD=LLA=JL !eJ<A='=K=J$FF=FO=J<=F <A=.;@O=JHMFCL=<=K+JG?J9EEKMF<RMKaLRDA;@= FeLRDA;@=$F>GKKG9M;@RME)9;@D=K=FMF<.9EE=DF 9M>:=J=AL=LMF<KAF<O=JLNGDD==?D=AL=Je:=JDaF?=J= 5=AL A=-=R=HL=<=J.=F<MF?D;E5:97=A5:FMF<<A= "9JL=FLAHHK9MK%3FGD;?3DF7@Ra@D=FK=AL%9@J=FRM <=F>AP=F D=E=FL=F $F<=J&)@35:>7E776;F;A@ =JK;@A=F=FRM<=E9M;@E=@J=J=EGFGL@=E9LAK;@= e;@=JOA=<=J"=KMF<@=ALKJ9L?=:=J#7;5:F7D>747@ RMJ?D=A;@F9EA?=F*-! $FALA9LAN=MF<&G;@:e;@=J  A=OA;@LA?KL=F.L9LAGF=FMF<K;@dFKL=F(GE=FL= NGF+9HKL=F=<ACL31$ Oa@J=F<K=AF=K=KM;@KAF ^KL=JJ=A;@ OMJ<=F9M><=J=JKL=F1AF<=J&) @35:>7E776;F;A@N=J=OA?L 

%.&/0&+" %+<!)


G B=5)+00J:-6

1A=D=^.=F<MF?=FCdFF=F@35:97:^DFO=J<=F $F5MK9EE=F9J:=ALEAL<=J :L=ADMF? 'A>;F;E5:7 ;>6G@9 ,?I7>F4;>6G@9 G@6 -7D4D3G5:7D @@7@4;>6G@9 <=K G@67E?;@;EF7D;G?E 8_D ,@F7DD;5:F "G@EF G@6 "G>FGD :A=L=L A7

&) 3F =AF=KL9JCN=J:ADDA?L=GOFDG9< =J=;@LA?MF?>eJ.;@MD=F9F GOFDG9<:9J= .=F<MF?=FKAF<AE^+JG?J9EE?=C=FFR=A;@F=L 

!)+3;<)/-

"=?=F1GJ9FE=D<MF?CdFF=F<9K&) 17@FDG? <9KG@=:3GEMF<<9K%7G7 $76;7@:3GENGF^ :=KM;@LO=J<=F A=!e@JMF?=F?=:=F AF:DA;C@AFL=J<A= &MDAKK=F<=J(=<A=FHJG<MCLAGF $E+ - $GE7G?KAF<>eJ<A==KM;@=J$FF=F<A= "=K;@A;@L=<=K*-! KGOA=<A= FLOA;CDMF?<=J&9E=J9L=;@FAC<GCME=FLA=JL  !eJ&AF<=J:A=L=L<=J*-!<A=(d?DA;@C=AL =AF=?9FR:=KGF<=J="=:MJLKL9?K

H9JLQAE&) 17@FDG? RM N=J9FKL9DL=F $ED>74@;EEFG6;ACdFF=F<A=&AF<=J K=D:KL@AFL=J<=J&9E=J9KL=@=FMF<A@J=!J=MF<$FF=FAF<=J>G74AJ>DA=?=F D9KK=F 9F9;@?A:L=K=AF="=:MJLKL9?KLGJL=AF<=J&) "3@F;@7 5MJ JAFF=

JMF?F=@E=F<A=&AF<=J<9KK=D:KL?=<J=@L=1A<=GMF<=AF"JMHH=F>GLGEAL +A?+GD4AEALF9;@#9MK=

='4#06914670) =4#052#4'0<   

106#-6'70&'48+%'(E4&#57$.+-7/

'/<>#+-2/8/<K6?, =JdKL=JJ=A;@AK;@=&MDLMJK=F<=J^:A=L=LFA;@LFMJ=AF=J>GD?J=A;@=K-9<AGHJG?J9EE A=K=F<MF?K:=?D=A

L=F<=F1=J9FKL9DLMF?=F RMKaLRDA;@=$F>GJE9LAGF=FMF<F?=:GL=E9;@=F^RM=AF=JNA=DK=ALA?=F+D9LL>GJE  9M><=J<AKCMLA=JL CGFKMEA=JLMF<F9;@?=<9;@LO=J<=FC9FF MJ;@<=FX >G4AKL=AF=O=AL=J=$<=FLATC9LA

GFKEd?DA;@C=ALROAK;@=F.=F<=JMF<&GFKME=FL$FF=F?=?=:=F (AL?DA=<=J<=KX >G4KCGEE=FAF<=F"=

FMKK=AF=J?9FR=F+9D=LL=NGFDM: 1GJL=AD=F CdFF=F^JLAC=DMF<.=F<MF?KCGHA=FN=J?eFKLA?L:=KL=DD=F  !eJ<A=DM:N=J9FKL9DLMF?=FMF<=AF=-=A@=O=AL=J=J N=FLK=J@9DL=F<A=(AL?DA=<=J&9JL=Fe:=J<9K&9JL=F

K=JNA;=7>>A:ADDA?=J  #=JRKLe;C<=KDM:9F?=:GLKAKL<9K^(9?9RAF97:^DFEAL:AKD9F?

:GFF=FL$FF=F M>;9  .=AL=F :A=L=L<9K(9?9RAF=AF=F9MK>e@JDA;@=F_:=J:DA;Ce:=J<9KCGEHD=LL=(GF9LKHJG?J9EENGF^ $FL=J=KK9FL=-=HGJL9?=F RME=AKHA=De:=J<9K'A>3D<3:D /A:=L9DK.;>67D.7EF7@:;@3EG<=J<A= KH9FF=F<=83?;>;[D7*BGD7@EG5:7AF.A=:=F:eJ?=F =J?aFR=F<A=$F>GJE9LAGF=Fe:=J<A=CLANALaL=FNGF^  DM:C9JL=F $F@9:=J$FF=F:=CGEE=F97:^DFB=<=F(GF9L?J9LAKRM?=K;@A;CL 

-=;-1< -:!-;=6,0-1<;<)43

KL9JL=L=<=J*-!=AF=F=M=-=A@=NGF*>> AJ AKCMKKAGFKN=J9FKL9DLMF?=F MFL=J<=E/AL=D&) 7EG@6:7;FEF3>= A==JKL="=KHJa;@KJMF<=>9F<9E  %MFARME/@=E9*5:?7DLKL9LL <A=RO=AL=RME/@=E9;347F7E9E )GN=E

:=J A=1=J9FKL9DLMF?=FOMJ<=FDAN=9MK<=E)36;A"G>FGD:3GEe:=JLJ9?=F  5A=D<=J1=J9FKL9DLMF?KJ=A@=AKL=K AFAKCMKKAGF=FROAK;@=F*-! %GMJF9DAK

L$FF=F .H=RA9DAKL$FF=FMF<=LJG>>=F=F<A=OA;@LA?=F$F>GJE9LAGF=FRMEB=

O=ADA?=F/@=E9>eJ=AFAFL=J=KKA=JL=K+M:DACMEN=JKLaF<DA;@RMHJaK=FLA=J=F  =J*-!FeLRL@A=JK=AF="=KMF<@=ALKCGEH=L=FR MEAF5MK9EE=F9J:=ALEAL <=JWDLF7=3??7D<=E+M:DACME<A=9CLM=DDKL=F FLOA;CDMF?=FMF<F=M=KL=F E=L@G<AK;@=FFKaLR=RM?aF?DA;@RME9;@=F

 


&+0&'4%*7.'? 0(14/#6+10537#.+6C610174

G5< .;7<.16*,1.;.7<,1.7C>.;;.2 ,1.72<=78;6*5.;@.2<.72,1=-.; .-.@.;=.-. .27C.57.!.7->70-.<4=>.55.72.7<=.<)1*==.26 5.=C=.7*1;6.1;&><.1.;77.7.778,1<27-@2; 27-.;&2 .-*4=287<=85C*>/-2.&*15E<8 ?2.5.!,1P5.;77.71*+.7@2;26?.;0*70.7.7 !,1>53*1;9.;<O752,10.=;8//.7D

,)#$+$$+". .,'"(0&+&0&0,.8&* %0 %1)"7

)A;@LO=FA?=J9DK.;@MD=F@9:=F<A=.HALR=FD=ML= <=J1;:=KM;@LVNGFGJF:AJF:AK)=MKA=<D9E.== 1;?35:F*5:G>7@9:=FOAJ<A=CLAGF?=L9M>L >eJ<A= A;@&) @8A5:78.L=>9F.LJd:ALR=JMF<&) +- :78 D763=F7GD&9JDEGF:=?=AKL=JFCGFFL= 9K,@F7D D;5:FE?;@;EF7D;G??=Oa@JL=DG?AKLAK;@=0FL=JKLeL

RMF? AF<=E=K9DK&GFL9CL:dJK=>eJAFL=J=KKA=JL= '=@J=J$FF=FMF<.;@eD=J$FF=F>MF?A=JL= O=AD<A= CLAGFRME.;@O=JHMFCLX'A>;F;E5:7;>6G@9SH9KKL= E *CLG:=J HJaK=FLA=JL=F&) @8AD?3F;A@E 6;D7=FAD DE9J*:=J@9MK=JMF<,@F7DD;5:FE?;@;EF7D;@ J D9M<A9.;@EA=<<A=CLAGFAE 7D;@97D93E E7AF2A=F .AEE=JAF? $F?JA</@MJF@=J@A=DL<GJL ?D=A;@<A==JKL=X0FL=JJA;@LKKLMF<=S9: AF=KH9FF=F<==?=?FMF?  K?9DL1GJMJL=AD=RM e:=JOAF<=F;7D3497:A47@7D7D@E7:EF3D6ADF67E ;@F7D7EE;7DF7BA>;F;=H7D6DAEE7@7!G97@6>;5:72=<=J FG;@ .;@GF<9K=JKL=5MK9EE=FLJ=>>=FVAF.AEE=

JAF?KG?9JNGJ&9E=J9KVDA=>@=JNGJJ9?=F< 5MFa;@KL K;@AD<=JL=$F?JA</@MJF@=JD9MFA?A@J=F AFKLA=?AF <=F%GMJF9DAKEMK 9F9;@=JDaML=JL=KA=<A=#=J9MK

>GJ<=JMF?=F>eJHGDALAK;@==JA;@L=JKL9LL=J$FF=FMF< :=K;@JA=:<A==KGF<=J@=AL=F=AF=Kd>>=FLDA;@ J=;@L

DA;@=F(=<AMEK 29K @8AD?3F;A@E3G8FD39MF<&4<7=F;H;F[FE974AF :=<=ML=F O9J<=FBMF?=F'=ML=FFA;@L:=OMKKL $F <=J9FK;@DA=Z=F<=FAKCMKKAGFKHA=DL==K<9FFK;@GF =AF=:=<=ML=F<=-GDD= M;@ <9KK*-! %GMJF9DAKL$F

F=FFA;@L<=J'AFA==AF=K#=J9MK?=:=JK KGF<=JF<=J DD?=E=AF@=ALMF<<9EAL9MKK;@DA=ZDA;@A@J=E+M:DACME

 

N=JH>DA;@L=LKAF< A=.;@eD=J$FF=F:=C9E=FF9LeJDA;@ 9M;@=AF=F9MK>e@JDA;@=FDA;C@AFL=J<A=&MDAKK=F<=J )9;@JA;@L=FHJG<MCLAGFAE!=JFK=@=F?=:GL=F A=RO=A 0FL=JJA;@LKKLMF<=FO9J=FHJ9DD?=>eDDL  M;@<A=e:JA?=F=?=?FMF?=FN=JDA=>=Fa@FDA;@  +JG:D=E=?9:=KD=<A?DA;@:=A/=JEAFN=J=AF:9JMF?=F  O=ADOAJ<=FF>J9?=FFA;@LAEE=JKGK;@F=DDOA= ?=OeFK;@LF9;@CGEE=FCGFFL=F =JA=FKLHD9FAF <=J1; -=<9CLAGF@9LL=K=D:KLN=JKLaF<DA;@1GJJ9F?  LO9 .;@MD=FEMKKL=FOAJ9M><9KFa;@KL=.;@MD

B9@JN=JLJdKL=F "=DG@FL@9LKA;@<=JM>O9F<AFB=<=E!9DD  AF=JK=ALK @9:=FOAJBMF?=F(=FK;@=F <A=<=EFa;@KLOa@D=F <eJ>=F N=JEALL=DL OA=OA;@LA?%GMJF9DAKEMK>eJ<9K !MFCLAGFA=J=F<=K<=EGCJ9LAK;@=F+JGR=KK=KAKL X @8AD?3F;A@3>E+D7;4EFA8867D7?A=D3F;7S F<=

J=JK=ALKAKL=K>eJMFK*-! %GMJF9DAKL$FF=F<A=(d?

DA;@C=AL?=O=K=F BMF?=(=FK;@=F <A=AE1; +M:DA

CMEMFL=JJ=HJaK=FLA=JLKAF< <AJ=CL9FRMKHJ=;@=F  &) +- :78D763=F7GD&9JDEGF@9LL=<9@=J:=A<=J +JGB=CLHJaK=FL9LAGF<9K(GLLG=LO9K9:?=O9F<=DL X*5:G>7?35:F1; ;7 677@6;76;7<G@97@$7@ E5:7@G@E9797@_47D;?)3:?7@6;7E7D+AGD [GV7D@I7D67@<767@83>>E;@6;77EF3>FG@967D 1;E7;@8>;7V7@ S .G?=K=@=FO9J=K9M;@=AF=JL7>68ADE5:G@9 OA= d>>=FLDA;@ J=;@LDA;@=)9;@JA;@L=FK=F<MF?=FAF 5MCMF>LA@J+M:DACME>AF<=FCdFF=F  

,)#$+$$+".


(15)+0<"+0=4- 7,-:)<7:66-6154);;-6B155-:

.[:>7@?;F E9;@L'A>;F;E5:7;>6G@9FG;@OA;@LA?=J <9EAL.;@eD=J$FF=F 9DK XEeF<A?= eJ?=J$FF=FS =A?=FKLaF<A?= FLK;@=A<MF?=F >aDD=F CdFF=F  M;@ <A= (=<A=F KHA=D=F <9:=A =AF= O=K=FLDA;@= -GDD=  <=FF <A=H7D^887@F >;5:F7 $7;@G@9 >DA=ZL AF <A= HGDALAK;@= 29@JF=@EMF? <=J %M?=F<DA;@=F =AF  =K@9D: L9MK;@=F <A= 1; (G<=J9LGJ$FF=F $F?JA< /@MJF@=J  9FA=DD= .H=J9  (9JA= D9AJ= 5AEE=JE9FF  JEAF 2GD>  "=J9D< "JGKK MF< /9J=C '=ALF=J K=AL *CLG:=J

A@J(G<=J9LGJ=FHMDL?=?=F'=@J=JLAK;@=AF?9FR^KL=JJ=A;@  .A=KGDD=F<=F.;@eD=J$FF=F=JCDaJ=F OA=HGDALAK;@==JA;@L=JKL9LLMF?AE*-! =FKL=@LMF<O9K&4<7=F;H;F[F:=<=ML=L 

=6,-6,1-6;<D-:,1:-3<-:)0<16,-6!

=J&) "G@67@6;7@EFAKL=AF=.=JNA;==AFJA;@LMF?>eJ9DD= <A=)a@=J=Ke:=J <=F *-!  <A= 9MK?=KLJ9@DL=F .=F<MF?=F  <9K -9<AG9F?=:GL  *>> AJ 1=J9F

KL9DLMF?=F MF< F9LeJDA;@ e:=J <A= *J?9FAK9LAGF MF< <9K .=D:KLN=JKLaF<FAK <=K .=F<=JK =J>9@J=F OGDD=F  MJ;@ <9K .=JNA;=9F?=:GL  <A= 9CLM=DD= +JG

?J9EEAF>GJE9LAGF MF< <A= &MF<=F:=J9LMF? OAJ< =AF= RMKaLRDA;@= $FL=J9CLA

GFKEd?DA;@C=AL ROAK;@=F .=F<=J MF< &GFKME=FL$F ?=:GL=F  M;@ <A= F=MF '9F<=KKLM<AGK:A=L=FA@J=E+M:DACME=AF=F=A?=FKLaF<A?=F&MF<=FK=JNA;= 

='4#06914670) =4#052#4'0<   

'4&+4'-6' +#.1)

#:)6;8):-6B)=.-16-641+3 3=6,-6,1-6;<!)<

_:=J=G@67@6;7@EF &) 3FKAF<<A=&GFL9CL<9L=F9DD=J-=<9CLAGF=FKGOA=NA=

D=J(AL9J:=AL=J$FF=FK;@F=DDN=J>e?:9J .GOAJ<<A=?=OeFK;@L=&GEEMFAC9LA

GFEAL<=F.=F<MF?KN=J9FLOGJLDA;@=F=JD=A;@L=JL .=AL

HJaK=FLA=JLKA;@<A= .=AL=AF=AF=EF=M=F!GJE9L OG<MJ;@_:=JKA;@LDA;@C=ALMF<$F@9DLN=J:=KK=JL O=J<=FCGFFL=F 

-:!=*413=5;:)<

=J'G4>;=G?ED3FAKL<9K)9;@>GD?=GJ?9F<=J^D7D G@6*7:7DH7DFD7FG@9MF< @9L NGF<=F#dJ=J$FF=FMF<.=@=J$FF=F?=Oa@DL=(AL?DA=<=J <A=<9K*-!

+M:DACMEN=JLJ=L=F )=:=F<=J&GFLJGDD=<=K @8AD?3F;A@E MF<;>6G@9E3G8 FD39EC9E=FK=AL<=J$FL=JF9LAGF9DAKA=JMF?<=J(=<A=FMF<<=EM>LJ=L=FHJA

N9L=J/1 F:A=L=JF=M=KH=CL=@AFRM 

:=>9KKL=E9FKA;@AFL=FKANEAL <=J0EKL=DDMF?9M>- + 

'/<>#+-2/8?1/8.=-2?>D?8./88D/3-28?81 =J%M?=F<K;@MLRAKL=AF?JGZ=KFDA=?=F<=K*-! 0E<=F?=K=LRDA;@>=KL?=D=?L=F-9@E=FMF<<A=?eDLA?=F +JG?J9EEJA;@LDAFA=FRM=J>eDD=F ?A:L=K=AF=-=A@=NGFN=J:AF<DA;@=F(9ZF9@E=FRME.;@MLRNGF(AF<=J

Ba@JA?=F 9RMRa@D=F<=JN=J9FLOGJLMF?K:=OMKKL=+JG?J9EE=AFC9M> <A==9J:=ALMF?NGF+JG?J9EE=F <A= .GJ?>9DL:=A<=J"=KL9DLMF?MF<:=AE AFK9LRNGF+JG?J9EELJ9AD=JF <A=+JG?J9EEA=JMF?F9;@=FLKHJ=;@=F

<=F 5=AL?J=FR=F  <A= &=FFR=A;@FMF? NGF +JG?J9EE=F MF< ?=RA=DL= MK  MF< !GJL:AD<MF?KE9ZF9@E=F NGF (AL9J:=AL=J$FF=F  A=-66B-1+06=6/NGF!ADE=FMF<.=JA=FAKL=AF=O=JLNGDD=*JA=FLA=JMF?K@AD>=>eJ<A= DL=JF <A=9: 0@J (ALN=J9FLOGJLMF?>eJ<=F/1 &GFKME<=J&AF<=JMF<%M?=F<DA;@=FLJ9?=FKGDD=F FA;@L>eJ&AF<=J

FMJ>eJ JO9;@K=F= +GKALAN &=FFR=A;@FMF?>eJ+JG?J9EE= <A=>eJ&AF<=J:=KGF<=JK?==A?F=LKAF<

 


=.<:)/  







 

  -1;<=6/   











.LJ9L=?A=FMF<1AKAGF=F >eJ<=F*-!NGFEGJ?=F #=J9MK>GJ<=JMF?=F9FF=@E=F  +=JKH=CLAN=F=FLOA;C=DF

-0:?-:< #(  16)44-6!-,1-6

G6%.==+.@.;+62=-.79;2?*=.7 >7-/>74?.;*7<=*5=.;76><<-.;O//.7=52,1. >7-/>74 27<.27.;20.7*;=>7-4;*/=<.27.;20.7*;=+.<=.1.74O77.72.<.20.7*;=2<=:>*52 =N=<0.+>7-.7!2.?.;+2.=.=-2.;2.7=2.;>70*672.-;20<=.70.6.27<*6.7.77.;-.< >+524>6<0.<,16*,4<2=.27.;-.;*;=20.7;2.7=2.;>70@P;-.<2,1-.;O//.7=52,1. >7-/>7426%.==+.@.;+<.5+<=+.<,1N-20.73*<2,15.=C=52,1<.5+<=*><-.6%.==+. @.;+@.;/.7D 2.=;2,1!,1@*;C489/.1.6*520.;;80;*66-2;.4=8;-.; 




^>>=FLDA;@ J=;@LDA;@=JM>LJ9?:=<=ML=L,M9DALaLKCGFL

JGDD=F9;@OAKK=FK;@9>LDA;@=F(=L@G<=F  _:=JHJe>MF?<=J.L9F<9J<K (=<A=F>GJK;@MF?MF<CJALA

K;@=-=>D=PAGF !eJ=AF?=:e@J=F>AF9FRA=JL=K0FL=JF=@

E=FRa@D=FOAJLK;@9>LDA;@= >>ARA=FRMF<.GRA9DCGEH=

L=FR ,M9DALaLK;GFLJGDDAF?MF<2=AL=J:AD<MF?  "=>J9?LKAF<.LJ9L=?A=FMF<1AKAGF=F <A=<=F*-!EAL <=J"=K=DDK;@9>LNGFEGJ?=FN=J:AF<=F 

:)3<1;+0-:=<B-6 

AF=-=;@FMF? <A=9M>?=@L AF(=<A=FMFL=JF=@E=F EAL+JG<MCLO=JL M>LJ9?MF<5MCMF>L 




'&+'0(145%*70)706'456E6<6 7#.+6C65$'/E*70)'0

G>/*<2<-.;>=C>70<-*=.7@.;-.7!=N;4.7 >7-./2C2=.*7*5B<2.;=E-2..20.7.7>7--2.-.; 2=+.@.;+.;77.7D

"!3&$"%"0+".  .(01+!"!&"+#,./ %1+$

(=<A=F>GJK;@MF?AEd>>=FLDA;@ J=;@LDA;@=F-MF<>MFC AKLKGOG@D(9JC=LAF? 9DK9M;@.GRA9D>GJK;@MF? A= -=A;@O=AL=F J@=:MF?=FDA=>=JF<A=O=K=FLDA;@=F &=FFR9@D=F>eJ J>GD?KCGFLJGDD=MF<9KAK<9L=F>eJ +D9FMF?MF<.LJ9L=?A==FLOA;CDMF? 9Je:=J@AF9MK @9L<A=&) $3D=F G@6$76;7@8ADE5:G@9<A=M>?9

:= 0FL=JF=@E=FK>e@JMF?MF<+JG?J9EE?=KL9DLMF? AF9DD=F+@9K=FKQKL=E9LAK;@RMMFL=JKLeLR=FMF<+D9

FMF?OA=+JG<MCL=FLOA;CDMF?=EHAJAK;@RM>MF<A=J=F  2AJ=JEALL=DF)MLRMF?MF<CR=HL9FR<=KF?=:GLK  AF>GJEA=J=Fe:=J-=9CLAGF=FMF<1=J@9DL=F  AFKL=D

DMF?=FMF<F>GJ<=JMF?=F<=K+M:DACMEKMF<R=A?=F 2eFK;@=MF<=<eJ>FAKK=9M> <A=<9K0FL=JF=@E=F O9@JRMF=@E=F@9L ME:=A5MK;@9M=J$FF=F #dJ=J$F

F=FMF<)MLR=J$FF=F=J>GD?J=A;@RMK=AF 5M<=FO=K=FLDA;@=FM>?9:=F?=@dJL<9@=J CGFLAFM

A=JDA;@RM:=G:9;@L=FMF<RMCGEEMFARA=J=F AFO=D

;@=EMKE9Z<A=*-! F?=:GL=NGE+M:DACME:RO  <=FB=O=ADA?=F5A=D?JMHH=F?=K=@=F ?=@dJL ?=FMLRL O=J<=FVMF<RO9JB=O=ADKAE1=J?D=A;@EAL<=F(AL

:=O=J:=JF 9K?=K;@A=@L>eJ<=F!=JFK=@:=J=A;@9M> 9KAK<=K+#+*+ <=JCGFLAFMA=JDA;@=F=D=CLJGFA

K;@=F-=A;@O=AL=F J@=:MF? $E-9<AG:=J=A;@AKL<9K =FLKHJ=;@=F<=$FKLJME=FL<=J) &+*+ :=AE$FL=J

F=LKAF<=KX.MF<X.'>GE  A=KG=JEALL=DL=F-=A;@O=AL= 9L=FKAF<=AF=JK=ALK =AF'=AKLMF?KF9;@O=AK>eJ<A=+JG?J9EEN=J9FLOGJLDA

;@=FMF<O=J<=F<9@=JD9M>=F<AF-=D9LAGFRM=F;@

E9JCKMF<5A=DNGJ?9:=F?=K=LRL F<=J=JK=ALKKA=@L E9FAEd>>=FLDA;@ J=;@LDA;@=F-MF<>MFC<A=K=59@D=F FA;@LFMJ9DK'=AKLMF?KO=JL= KGF<=JF9M;@9DKG<=    

>eJCGEHD=P=KE=FK;@DA;@=K1=J@9DL=F =A<=J =;@A>>JA=JMF?<A=K=JCGEHJAEA=JL=F$F>GJE9LAGF=F @=D>=FM 9 ADDMKLJ9LAN=5A=D?JMHH=F (G<=DD=OA=<A= *;@GE$;>;7GE <A=5MK;@9M=J$FF=FF9;@A@J=F AFKL=D

DMF?=FMF<2=JLGJA=FLA=JMF?=FK=?E=FLA=J=F  $E+#+*+?A:L=K<9Je:=J@AF9MK>eJ<A='3@7> (AL

?DA=<=J<A=(d?DA;@C=AL <9K"=K=@=F=9F@9F<=AF=J K=;@KKLM>A?=F.C9D9RM:=O=JL=F 9EAL=J@9DL=F<A= .=F<MF?KE9;@=J$FF=F9EFa;@KL=F(GJ?=FF=:=F <=JFR9@D<=J5MK;@9M=J$FF=F9M;@=AF=FIM9DAL9LA

N=F#AFO=AK OA=<A=.=F<MF??=>9DD=F@9L 9F=:=FO=J<=FAF6 :A5 0FL=JKM;@MF?=FRM9CLM

=DD=F!J9?=F-=9CLAGF=F (=AFMF?=FMF<(GLAN=NGF +M:DACMEK?JMHH=F=JEALL=DL .GD;@=M>?9:=FKL=DDMF

?=FKAF<:=AKHA=DKO=AK=LLJ9CLAGFK MF<:D=@FMF?K

>9CLGJ=FNGF.=F<MF?=FRM<A9?FGKLARA=J=F <=F CR=HL9FR?J9<NGF(G<=J9LGJ$FF=FRM=J@=:=F <9K +GL=FRA9DNGF+JG?J9EECGFR=HL=F=AFRMK;@aLR=F -=?=DEaZA?<MJ;@?=>e@JLO=J<=F-=HJaK=FL9LAN J@=

:MF?=F EAL<=F=F FLOA;CDMF?=FAF$FL=JN9DD=F :=G:9;@L=LO=J<=F R  0FL=JF=@E=FKAE9?= +M:DA

CMEKRM>JA=<=F@=AL  FLOA;CDMF?NGF$FL=J=KK=FMF< AFKL=DDMF?=F -=R=HLAGFK?=OG@F@=AL=F &GFKMEN=J

@9DL=F #9MK@9DLK9MKKL9LLMF? 9K$A@;FAD;@9 ME>9KKL(9JCLLJ=F<K=:=FKGOA=KGRA9D=MF<OAJL

K;@9>LDA;@= FLOA;CDMF?=F  A=$76;7@8ADE5:G@9<=K*-!>MF?A=JL9DKAF<=?DA=< MF<(ALLD=JROAK;@=F+M:DACMEMF<<=F"=KL9DL=J$F

F=FNGF+JG?J9EEMF<GFL=FLMF<LJa?LKG<9RM:=A  <=F-MF<>MFCL=ADF=@E=J$FF=FO=JLNGDD=+JG?J9EE= MF<.=JNA;=KRMJ$F>GJE9LAGF 0FL=J@9DLMF?MF<*JA=F

LA=JMF?9FRM:A=L=F 

"!3&$"%"0+".


,M9DALaLKHJG?J9EEAKLL=M=J A=(ALL=DKAF<:=?J=FRL A="=:e@J=FR9@D=J$F

F=F@9:=FFKHJM;@9M>$F>GJE9LAGFMF<0FL=J@9DLMF?9M>@d;@KLEd?DA;@=E )AN=9M  KAKL<9@=JOA;@LA?<9>eJRMKGJ?=F <9KK<9KF?=:GL<=K*-!9M;@ OAJCDA;@<A=$FL=J=KK=FMF<=<eJ>FAKK=<=K+M:DACMEKLJA>>L 0F<=KAKLOA;@

LA? <=F+JG?J9EEE9;@=J$FF=F9L=FRMDA=>=JF <A=KA=:=AEGHLAE9D=F AF

K9LR<=J(ALL=DMF<-=KKGMJ;=FMFL=JKLeLR=F =K@9D:MFL=JKM;@L<=J*-!J=?=DEaZA?<A=#9DLMF?=FMF<=<eJ>FAKK=<=J ^KL=JJ=A;@=J$FF=F M;@<=K@9D:DaKKL<=J*-!K=CMF<=F?=F9M=J@=:=F OA=

NA=D=(=FK;@=F<A==AFR=DF=F+JG?J9EE=N=J>GD?=F  =K@9D:=JJ=;@F=L<=J*-!>eJB=<=.=F<MF? OA=@G;@<=JM>O9F<B=

 .=@=J$FF=FG<=J#dJ=J$FF=FAKL =J*-!AKL9M>?JMF<NGF 0 )GJE=F?=K=LRDA;@N=JH>DA;@L=L <=FM>O9F<>eJ <A= J>eDDMF?<=Kd>>=FLDA;@ J=;@LDA;@=F+JG?J9EE9M>LJ9?=K=P9CLRM:=J=;@

F=F (AL<=JX+D7@@G@9ED75:@G@9SCGEEL<=J*-!<A=K=EM>LJ9?F9;@

 =1/2'6'0<    ='4#06914670)

"#*.'0&+'<C*.'0 +''55+05647/'06'&'5

-=-:##"# -:.74/:-1+0/-;<):<-<

A=CGFLAFMA=JDA;@==D=CLJGFAK;@= J@=:MF?<=J!=JFK=@J=A;@O=AL=FOAJ<K=AL %9FM9J

NGE1=J=AF++D47;FE97?7;@E5:38F+#+*+AFM>LJ9??=

?=:=F A=(AL?DA=<=J<=K1=J=AFKKAF<*-!:RO &) @F7DBD;E7 /1  ' '>GE MF<*7H7@&@7$76;3GEFD;3 A=+#+*+ '3@7> (=KKMF?=FO=J<=FNGF<=J 8"GEFD;3<MJ;@?=>e@JL  *>e@JL<A=RMKaLRDA;@=F-=HJaK=FL9LAN =>J9?MF

?=F<MJ;@ EAL<=F=F<A=>=JFK=@L=;@FAK;@=MKKL9LLMF?<=JdKL=JJ=A;@AK;@=F #9MK@9DL=KGOA=<A=1=JL=ADMF?<=J#9MK@9DL=F9;@ EH>9F?K=:=F=F=JEALL=DL O=J<=F *;@GE*A5;AH;E;A=JEALL=DL<A=*;@GE$;>;7GE 5A=D?JMHH=F 9JKL=DDMF

?=F9M><=J9KAKNGF AFKL=DDMF?=FMF<2=JL@9DLMF?=F -=--;;=6/-6 AF=<=J)=M=JMF?=F

AKL <9KK<A=!=JFK=@FMLRMF? NGF"aKL=FAF<=F/=KL #9MK@9DL=FFMF9M;@=J@G:=FO=J<=FC9FF A= J>9K

KMF?<=J!=JFK=@FMLRMF?9F5O=ALOG@FKALR=F>e@JLRMHJaRAK=J=F9L=F 0E <A=FR9@DNGF/=KL +=JKGF=FAE'3@7>LJGLR<=KFKLA=?KNGF.AF?D= #9MK@9D

L=FCGFKL9FLRM@9DL=F OAJ<<9K'3@7>NGF 

#9MK@9DL=FAE%9@J

 F9;@MF<F9;@=J@d@LV<=JR=ALKAF<=K  #9MK@9DL=  A=A?AL9DAKA=JMF?<=JdKL=JJ=A;@AK;@=F#9MK@9DL==J>GJ<=JL=AF=NGDDKLaF<A?= JF=M=JMF?<=J(=KKL=;@FACAF<=F/=KL #9MK@9DL=F A=F=M=(=KKL=;@FAC C9FF>D=PA:=D>eJ=AF=1A=DR9@D<=J<A?AL9D=FFO=F<MF?=F=J?aFRLMF<9<

9HLA=JLO=J<=F

!761<7:16/

(AL=AF=JJ=?=DEaZA?=F-=HJaK=FL9LAN =>J9?MF?OAJ<<A=5M>JA=<=F@=AL<=K +M:DACMEKEAL<=E*-!MF<<=KK=FF?=:GL=F=JEALL=DLV=FLKHJ=;@=F<<=J AE :AK@=JA?=F &) (G3>;F[FE?A@;FAD;@9 NGF

 :AK

 <MJ;@?=>e@JL=F =>J9?MF?  9K O9@JL &GFLAFMALaL MF< =JEd?DA;@L D9F?>JAKLA? N=J?D=A;@:9J= +M:DACMEK:=MJL=ADMF?=F9M>J=HJaK=FL9LAN=J9KAK  J?aFRLOAJ<<A=K=CG3@ F;F3F;H7D:74G@9NGF=O=JLMF?K<9L=F<MJ;@=AFCG3>;F3F;H7E$A@;FAD;@9AF !GJENGFKLJMCLMJA=JL=F'G4>;=G?E MF<JB7DF @@7@ 7EBD[5:7@



 


@56'5&#59#5+'*#$'091..'0 0#%*7#.+6C670&7#06+6C6 > G2.27<=.55>70-.;O;.;77.7C>6;80;*66>7- -2.?*5>2.;>70-.;>*52=N=-.<70.+8=<<27--2. C.7=;*5.7;*0.726!.5+<=?.;<=N7-72<-.<O//.7=52,1 ;.,1=52,1.7 >7-/>74<>7-<.27.;.02=262.;>7026 2.7<=.-.<>+524>6<D

&$.&!2&0"(  !&,#,./ %1+$

LJ9?K<A=?=F9M=&=FFLFAK<=KK=F O9K<=J2=JLMF< <=J)MLR=F<=KF?=:GLK>eJ<A= <=F AFR=DF= FMF< <A="=K=DDK;@9>LAKL MF9:<AF?:9J=1GJ9MKK=LRMF?  A=#=J9MK>GJ<=JMF?9F<A=)36;A8ADE5:G@9AKL=K  9MK?=JeKL=LEAL<=E$FKLJME=FL9JAME<=JEG<=JF=F (9JCL>GJK;@MF? <A=K==<eJ>FAKK=RM=N9DMA=J=FMF< <MJ;@E=<A=FKGRAGDG?AK;@=F9DQK=FMF<+JG?FGK=F 9M;@<=FDA;C9M><A=(=<A=FCMDLMJMF<<A=&GEEM

FAC9LAGFKKLJMCLMJ=FNGFEGJ?=FRMJA;@L=F  A= AFKL=DDMF?<=J#dJ=J$FF=FRME+JG?J9EEMF< AFK:=KGF<=J=<A= N9DMA=JMF?<=J,M9DALaL<=KF?=

X

*;@6*;77;@H7DEF3@67@?;F67D*7@6G@96;7*;7 :GL=KKAF<<9@=JAEB=O=ADA?=F@AKLGJAK;@=F&GFL=PL 7?B83@97@478D;76;9FE;7*;7;EF7E63EI3E*;7 <A=R=FLJ9D=F!J9?=FAE.=D:KLN=JKLaF<FAK<=Kd>>=FL

:347@IA>>7@@35:(G3>;F[FG@6(G3@F;F[F

.3E DA;@=F J=;@LDA;@=F-MF<>MFCKMF<K=AF=J'=?ALAEA=

*;7LGE397@:347@E397@*;77E

S!J9?=F9F<A= JMF?AEA=FKL=<=K+M:DACMEK  #dJ=J$FF=FMFEALL=D:9JF9;@"JeF<MF?<=J)- A=K=E/@=E9OAJ<AF<=F.LM<A=FMF<F9DQK=F<=J 9E *CLG:=J,M=DD=X.3EI_@E5:7@*;7LG &) )36;A8ADE5:G@9:J=AL=J-9ME?=OA<E=L =AKHA=

:^D7@)36;AI7>F%D  7L  S D=KAF<<A=(AL9J:=AL<=J)36;A8ADE5:G@99E?JGZ9F

?=D=?L=F'G4>;5-3>G7 +JGB=CL<=K*-! <9K<=JD9M

M;@AF<=JNGF<=J)-:=A<=J.;DFE5:38FE >=F<=F,M9DALaLKKA;@=JMF?<=K*-! F?=:GLK<A=FL  BEK5:A>A9;E5:7@ADE5:G@9EEF7>>7MFL=J'=ALMF?NGF JOa@FLO=J<=FKGDD9M;@<A=CGFLAFMA=JDA;@<MJ;@?=

+9MD'9R9JK>=D<:=9M>LJ9?L=F)36;AEFG6;7OAJ<=JKL

>e@JL=.LM<A=X +3974G5: <A=<=E&MDLMJ MF<$F>GJ

E9DK<=JFKHJM;@HGKLMDA=JL <A=MFL=JK;@A=<DA;@=F E9LAGFKK=F<=JM 9 =AF==PLJ=EHGKALAN=#dJ=J$FF=F

=<eJ>FAKK= +Ja>=J=FR=FMF<)MLRMF?KEMKL=J<=K +M:DACMEK<A>>=J=FRA=JLF9;@KGRAG<=EG?J9H@AK;@=F :AF<MF?MF<=AFMFN=JaF<=JLK=@J@G@=K5M>JA=<=F

@=ALKFAN=9M:=K;@=AFA?L=JMJ;@K;@FALLKO=JL9DD=J "JMHH=F<9JRMKL=DD=FMF<RM9F9DQKA=J=FMF<@G@=K  :=MJL=ADL=F.=F<MF?=F:=LJa?L :=A=AF=J M?=FE=JC9M><A==O=JLMF?<=J,M9DALaLRMD=?=F  #d;@KLFGL=NGF M;@<A=R9@DJ=A;@=F.LM<A=F>eJ A=K=JFKHJM;@AKL:AK@=ML=AE'=AL:AD<<=JEG<=J

F=F(=<A=F>GJK;@MF?>eJ=AF=Fd>>=FLDA;@ J=;@LDA;@=F <A=9F<=J=F*-! -9<AG9F?=:GL=OA=^ !(MF<<A= *-! -=?AGF9DJ9<AGK:=KLaLA?=F=AF=JK=ALK<=F@G@=F .=F<=JMFN=JRA;@L:9JMF<@9LAEJ:=ALK:AD<<=J&) FKHJM;@9F<A=&) )36;A8>AFF7 9F<=JK=ALK<9K@G@= )36;A8ADE5:G@9=AF=FR=FLJ9D=F.L=DD=FO=JL A=M>?9:=<=J&) )36;A8ADE5:G@9AKL=K <A=+Ja>= MKE9Z<=J J>eDDMF?<=KK=D:=F $E) &+*+

 J=FR=F  AFKL=DDMF?=FMF< JO9JLMF?=F<=J#dJ=J$FF=F OMJ<=:=D=?L <9KKKA;@ (AG #dJ=J$FF=FLa?DA;@ >eJ<9KF?=:GL<=J&) )36;AE=FLK;@A=<=F@9:=F  RM=J@=:=FMF<<MJ;@<A=F9DQK=MF<M>:=J=ALMF? 9EAL<A=K=CR=HL9FR<=Kd>>=FLDA;@ J=;@LDA;@=F <=J J?=:FAKK=<9JRMKL=DD=F O=D;@=KF?=:GLMF< O=D;@=F)MLR=FKA;@<9K+M:DACMENGF<=F&) )36;A F?=:GLK9M;@O=AL=J@AF:=KL=@=F:D=A:L OAJ<<A= @AKLGJAK;@=!J9?=X EF7E63EI3E*;7:347@IA>>7@ BDA9D3??7@=JO9JL=L 5ME9F<=J=FO=J<=F9M;@<A= @35:(G3>;F[FG@6(G3@F;F[FSKAFF?=EaZ9M;@O=A

)MLRMF?K<9L=FR  /9?=KJ=A;@O=AL=FMF<(9JCL9F

L=AD=<=J=AFR=DF=F+JG?J9EE==JEALL=DLMF<F9;@RA=D L=J@AF>eJ<A=d>>=FLDA;@ J=;@LDA;@=(=<A=F>GJK;@MF? MF<>eJMFK-9<AG>GJK;@=J$FF=FKGOG@DAFMFK=J=E ?JMHH=FKH=RA>AK;@=F(=JCE9D=F9MK?=O=JL=L  J:=ALKD=:=F9DK9M;@AFMFK=J=EH=JKdFDA;@=F2=J

$FMFK=J=J@G;@CGEHD=P=F"=K=DDK;@9>LMF<AF=AF=J L=CGFL=PLNGFR=FLJ9D=J-=D=N9FRK=AF  5=AL<=KJ9K;@=FL=;@FGDG?AK;@=F29F<=DKMF<<=K  N=JK;@aJ>L=F(AL:=O=J:KAKL>eJ<A=N=J9FLOGJLMF?K

:=OMKKL=0EK=LRMF?<=Kd>>=FLDA;@ J=;@LDA;@=FM>

&$.&!2&0"(   


::1+0<=6/,-;=*41+%)4=-758-<-6BB-6<:=5;

A= JEALLDMF? NGF )MLR=J$FF=FR9@D=F MF< =J?aFR=F<= CR=HL9FR  MF< AF

KL=DDMF?K=J@=:MF?=FKAF<FA;@L<A==AFRA?=F&JAL=JA=F <A=<=J*-!RMJF9DQK= K=AF=J+JG?J9EEIM9DALaLMF<RMJ J>eDDMF?<=Kd>>=FLDA;@ J=;@LDA;@=FM>LJ9?K @=J9FRA=@L .L=DD=FO=JLMF<)GLO=F<A?C=AL=AF=Kd>>=FLDA;@=F-MF<>MFCKCdF

F=FFA;@L9DD=AF9F<=J(=F?=<=J9CLM=DD=F5MK;@9M=J$FF=F #dJ=J$FF=FMF< 0K=J$FF=F ?=E=KK=F O=J<=F  &JAL=JA=F OA= 67@F;F[FEEF;8FG@9  ;>6G@9EI7DF  "G>FGD3G8FD39 MF< .7DFE5:^B8G@9 D9KK=F KA;@ 9F@9F< <A=K=J 59@D=F FA;@L 9:D=K=F 9JME@9L<=J*-!AE(9A

=AF=A?=F=K'G4>;5-3>G7 5=FLJME ?=?JeF<=L <9K<=Fd>>=FLDA;@=F(=@JO=JL<=K*-!=N9DMA=JLMF<<GCME=F

LA=JL  5M<=FM>?9:=F<=KF=M=F'G4>;5-3>G7"A?B7F7@LL7@FDG?E'-"Ra@D=F<A= D9F?>JAKLA?= J@d@MF?<=J"=:e@J=F9CR=HL9FR ME<=FRMF=@E=F<KLaJC=J=F '=?ALAE9LAGFK9F>GJ<=JMF?=F?=?=Fe:=J"J=EA=F F9LAGF9D=JMF<=MJGHaAK;@=J +GDALAC 2=LL:=O=J:=J$FF=FMF<CJALAK;@=J^>>=FLDA;@C=ALRM=FLKHJ=;@=F 5M

<=EO=J<=F&9L=?GJA=FMF<&JAL=JA=F=FLOA;C=DL <A=:=A=AF=JF9;@NGDDRA=@

:9J=FMF<?D9M:OeJ<A?=FGCME=FL9LAGFMF<F9;@>GD?=F<=F N9DMA=JMF?<=J J>eDDMF? <=K ^887@F>;5: D75:F>;5:7@ G8FD39E @=J9F?=RG?=F O=J<=F CdFF=F  '=LRLDA;@ OAJ< <A= RMCMF>LKGJA=FLA=JL= +GKALAGFA=JMF? <=J ?=:e@J=F>AF9FRA=J

L=F+JG?J9EE9F:A=L=J$FF=FAE<A?AL9D=F(=<A=FR=AL9DL=J<MJ;@=AF=.LaJCMF? <=J&=JFCGEH=L=FRMF<=AF=K@7G7@;3>A9E?;F67D7H^>=7DG@9MFL=JKLeLRL  =J'G4>;5-3>G7 =JA;@LAKL/=AD<A=K=JCLANALaL=F

 =1/2'6'0<    ='4#06914670)

1)& )1"+/

J?aFR=F<<9RM>AF<=FAE*-!R9@DJ=A;@=AFL=JF=1=J9FKL9DLMF?=FMF<.;@M

DMF?=FRME=J=A;@'G4>;5-3>G7KL9LL M;@=AF=KLaJC=J=&GGH=J9LAGFEAL<=F 0FAN=JKALaL=FMF<!9;@@G;@K;@MD=FAKLAF1GJ:=J=ALMF? 2=AL=J=.;@O=JHMFCL

K=LRMF?=FMF<=AF=N=JKLaJCL=^>>=FLDA;@C=ALK9J:=ALO=J<=FAF<=FFa;@KL=F %9@J=F<A=F=M=(G3>;F[FEE;5:7DG@9<=K*-!RM=AF=JOA;@LA?=F(9ZF9@E=>eJ 9DD=(=<A=FFMLR=J$FF=FAF^KL=JJ=A;@E9;@=F

'/<>#+-2/83/<0961=1/=-23-2>/./=?6>?<=/8./<=+=K?-2 D>J=</J=A:=J "G>FGD G@6'DA9D3??5:78NGF^ RA=@LRME "=:MJLKL9?<=K.=F<=JKAD9FR $FL=JF= GCME=FL= 5=ALMF?K:=JA;@L=MF<!GLGKN=JK=@=FEALK;@9J>ReF?A?=F&GEE=FL9J=F=J?=:=F=AFNA=DK=A

LA?=K+GJLJaL<=K-9<AGK=F<=JK A="=K;@A;@L=NGF^AKLG>L<A="=K;@A;@L=<=K?=K9EL=F*-!AE&D=A

F=FME AF>DMKKCaEH>=F<=+9JL=A=F <A=-GDD=<=JE9F;@E9DEALCaEH>=F<=F 9:=JE=AKL9:O=@J=F<=F %GMJF9DAKL$FF=F <9K=Ee@=FME0F9:@aF?A?C=ALMF<,M9DALaLMF<<A=:=?D=AL=F<=&JALAC<=J&GDD=?$F

F=F9MK<=F5=ALMF?KJ=<9CLAGF=F 9KM;@AKLC=AF=LJG;C=F=F=AF9F<=JJ=A@MF?NGF59@D=F 9L=FMF<!9CL=F KGF<=JF=AF=EALDG;C=J CJALA

K;@=F :AKO=AD=F:AKKA?=F!MZFGL=FN=JK=@=F=AD9FR 

!)0:-;;<=,1-6

=J*-!?A:LCeF>LA?=AF=!3:D7EEFG6;7AFM>LJ9? <A=KA;@9M>=AF=F:=KGF

<=J=F KH=CL <=J d>>=FLDA;@ J=;@LDA;@=F ,M9DALaL MF< K=AF=J J:JAF?MF? AE -9@E=FK=AF=K'=AKLMF?KME>9F?=K:=RA=@L 9<MJ;@KGDD=AF=K=D=CLAN=MF< N=JLA=>=F<=(G3>;F[FE=A@FDA>>7=JEd?DA;@LO=J<=F <A=AF<=J=PL=JF=F&GEEM

FAC9LAGF<=F(=@JO=JL=AF=Kd>>=FLDA;@ J=;@LDA;@=F?=F<9 .=LLAF?K=J?A:L 

 


'*4 +55'0?'*49'46(E457$.+-7/

G2.487=27>2.;52,1./5.0.-.;$.;62==5>70?87 6.1;%2<<.7*7*55. 2=*;+.2=.;77.7 <,15N0=<2,1*5<.1;@.;=/P;<>+524>672.-.;D

,)#$+$ &/ %".  1*+"/,1. "/

X!% ($$!))%-!*) -(( #)!%&%%!%+%S   +8O=#:/<,/< (=@J9DK@G@=BGMJF9DAKLAK;@==?9:MF? E=@J9DK "JMF<C=FFLFAKK=AE(=<A=FJ=;@L E=@J9DK:DGZ=*JA

=FLA=JMF?9E0FL=J@9DLMF?K (9AFKLJ=9E E=@J9DK +JG<MRA=J=FAFD=A<DA;@=JAD< MF</GFIM9DALaL E=@J 9DK<MJ;@K;@FALLDA;@CGJJ=CL=F.HJ9;@?=:J9M;@ V K:J9M;@LAFB=<=J#AFKA;@LE=@J9F2AKK=FMF<&GE

H=L=FR 9F-=>D=PAGFMF<KLaF<A?=J2=AL=J=FLOA;C

DMF? KGDD<=J*-!K=AF=EM>LJ9?RM9CLM=DD=J G:B=C

LAN=J MFH9JL=AAK;@=JMF<ME>9KK=F<=J=JA;@L=JKL9L

LMF? RM=AF=E=:=FKG:J=AL?=>a;@=JL=FOA= 9FKHJM;@KNGDD=F$F>GJE9LAGFK MF<0FL=J@9DLMF?K9F

?=:GL9M>9KAKK=AF=JJ=;@LDA;@=F"JMF<D9?=FGHLA

E9D=FLKHJ=;@=F 9K=J>GJ<=JDA;@=(=@J9F2AKK=F MF<@9F<O=JCDA;@=E!=AFK;@DA>>9FRM:A=L=F (d?DA;@

C=AL=FRMJ)9;@K;@aJ>MF?<=J&GEH=L=FR9M>9DD=F :=F=FRM=Jd>>F=FMF<<=F+JGR=KK<=J-=>D=PAGFV NGE=A?=FN=J9FLOGJLDA;@=F#9F<=DF9EJ:=ALKHD9LR :AKRMJ0FL=JF=@E=FKCMDLMJ <A=9M;@F9;@9MZ=F OAJCLVRM>dJ<=JF AKLM>?9:=<=KG?3@)7EAGD57E $3@397?7@F)AE*-!  )KM;@LMF<>AF<=LVe:=J<A= AFKLA=?K@eJ<=<=K 27=:6)41;<1;+0:-,)3<176-44-6;;-;;5-6<-6<-:;V <=FHJG>=KKAGF=DD=F)9;@OM;@K <=J<=F:=KGF<=J=F .L9F<9J<K<=K*-!=FLKHJA;@L MF<N=JEALL=DLRMKaLR

DA;@+J9CLACMEKHDaLR=9F.LM<=FL$FF=FBGMJF9DAKLA

K;@=JMK:AD<MF?KKLaLL=FAF^KL=JJ=A;@ <A=A@J=JK=ALK NGF<=F,M9DALaLKKL9F<9J<K<=K*-!HJG>ALA=J=F A= (=;)55-6):*-1<>76!51<$61>-:;1<I<-6)+0 07+0;+0=4-6=F-:5J/41+0<*-1,;-1<1/-6&1;;-6; <:)6;.-:)=.070-51>-)=



*:BGMJF9DAKLAK;@="JMF<9MK:AD<MF? .HJ=;@LJ9AFAF?K  (=<A=F 0J@=:=J G<=JJ:=ALKJ=;@L  9M;@<A= =?D=ALMF?NGF,M9DALaLKG>>=FKAN=F <A=1=JEALLDMF?<=J -=;@LK;@J=A:J=>GJEG<=J<A==>9KKMF?EAL1A<=GBGMJ

F9DAKEMK=J6<?1+34=6/>76)+03758-<-6B,=:+0 "+0=4=6/CGEELK=AL=FK)9DK"JMF<D9?=>eJ<A= IM9DAL9LAN@G;@O=JLA?=F+JG<MCL=<=K*-!<A=@d;@KL= =<=MLMF?RM 67?07?)=;-1/-6-::).<9FC<=J Ed?DA;@=F AF:AF<MF?R9@DJ=A;@=JAE*-!LaLA?=J PH=J

L$FF=FAE.;@MDMF?K:=J=A;@CGFFL=F<A=E=@J9DK   AD<MF?KE9ZF9@E=FAE%9@J CGKL=FK;@GF=F< ME?=K=LRLO=J<=F AF:=KGF<=J=KFDA=?=F<=K*-! <9KNGF)?=LJ9

?=FOAJ<<A= =)41<I<,-:"8:)+0-AFK=AF=F(=<A=F 9M>:=KLEd?DA;@=E)AN=9MRM?=Oa@JD=AKL=F<=J @=>KHJ=;@=J:=Oa@JLKA;@9DKFD9M>KL=DD=MF<&GJ

J=CLANAFMKKHJ9;@= G<=J!GJEMDA=JMF?K>J9?=F =AF X PH=JL$FF=FJ9LSCeEE=JLKA;@ME1=J=AF@=ALDA;@MF? MF<!=KLD=?MF?KHJ9;@DA;@=!=AF@=AL=F:=LJ=>>=F< 1GF)=FLOA;C=DL=!e@JMF?KCJa>L=K=EAF9J=  E9Z?=K;@F=A<=JL=&D9MKMJ=FMF<2GJCK@GHK ?=Oa@JD=AKL=FRM<=E070-K0:=6/;3758-<-6B =6,,);"+0:1<<0)4<-651<,-:%-:I6,-:=6/:-+0< 41+0-:=6,/-;-44;+0).<41+0-:!)05-6*-,16/=6 /-6AF1=J9FLOGJLMF??=?=Fe:=J<=J^>>=FLDA;@C=AL  OA=R  <MJ;@<A==>9KKMF?EALX)75:F>;5:7@ DG@6>397@67D>7;5:47:3@6>G@9SAFKH=RA=DD=F 2GJCK@GHKK=AL   )A;@LNGFMF?=>a@J <=FF9M;@<9>eJKL=@L)!eJ <A==LJ=MMF?<=JAFL=JF=F AE=J=A;@<=JdKL=J

J=A;@AK;@=F(=<A=F 0FL=JF=@E=F=AFRA?=F 4-1+0*-0)6,4=6/;37551;;176=6,,-:! 4-1+0;<-44=6/;*-)=.<:)/<-6EAL<9J9MKJ=KMDLA=

J=F<=J0EK=LRMF?NGF(9ZF9@E=FAE.AFF=<=J @9F;=F?D=A;@@=ALMF<RMJ!J9M=F>dJ<=JMF?   K=LRL=<=J*-!EAL<=E.L9JL=AF=KKH=RA=DD=F$7@ FAD;@9 'DA9D3??E>eJ!J9M=F=AF<=MLDA;@=K5=A

;@=F?=D=:L=J!J9M=F>dJ<=JMF? 

,)#$+$ &/ %".


?145)

I;>?3 AKL <9K F=M= *-! AFL=JF= *FDAF= 2AKK=FK .QKL=E  DD= (AL9J:=AL=J$F

F=F CdFF=F K=AL

 9M> KL=LK N=J>e?:9J= MF< 9CLM9DAKA=JL= X.;7 I;D6E 97?35:FS 'AKL=F =<A=FMF?K9FD=ALMF?=F e;@=JMF<.CJAHL=FRM?J=A>=F  )9LeJDA;@CdFF=F<A=(AL9J:=AL=J$FF=F9M;@<9KCGEHD=LL=.=EAF9J9F?=

:GL<=K*-!9:JM>=FMF<KA;@>eJ!GJL:AD<MF?KHJG?J9EE=9FE=D<=F 9K F=M= .QKL=E @9L K;@F=DD !Je;@L= ?=LJ9?=F A= FR9@D <=J AD<MF?K

E9ZF9@E=FKLA=?ME;9 +JGR=FL <A=<=J.=EAF9JL9?=ME9;@L

"8:)+03=:;-

)=:=F <=J _:=JHJe>MF? <=J .HJ=;@>=JLA?C=AL AKL =K 5A=D <=J &MJK=  >9DK;@= -=<=O=F<MF?=F  MK<Je;C= G<=J =LGFMF?=F RM N=JJAF?=JF  )=:=F )=OK

D=LL=JF  <A= 9DD?=E=AF 9M> RM 1=JE=A<=F<=K @AFO=AK=F  ?A:L =K H=JKdFDA;@= !==<:9;CK  AF= (=L@G<=  <A= :=A <=F <J=KK9L$FF=F 9M> HGKALAN= 5MKLAE

EMF?KLdZL A=KL=LA?=F JO=AL=JMF?=F<=JGEEBD35:763F7@43@=LJ9?=FRMJ 1=J=AF@=ALDA;@MF?<=JMKKHJ9;@=NGF)9E=FMF<=?JA>>=FAE0FL=JF=@E=F :=A A=K=NA9I;>?3GFDAF=N=J>e?:9J=9L=F:9FCAKL=AF=K<=J#AD>KEALL=D 9M> <A=9DD=*-! (AL9J:=AL=J$FF=F<AJ=CL9EJ:=ALKHD9LR5M?JA>>@9:=F 

 =1/2'6'0<    ='4#06914670)

+55'0(E4&+' +55'058'4/+66.'400'0

'/<>#+-2/89<>?8.'/3>/<,36.?81=>+<58+-21/0<+1> =J*-!N=J9FKL9DL=L=AE%9@J

AFK?=K9EL AD<MF?KE9ZF9@E=F  A=2=AL=J:AD<MF?KE9ZF9@E=FRa@DL=FAF<A=K=E5=ALJ9MEAFK?=K9EL  /=ADF=@E=J$FF=F E@aMT?KL=F OMJ<=<9K*BD75:FD3;@;@9=AF?=K=LRL <9F9;@>GD?L=F*5:G>G@97@;@- 7>3@97@MF<*5:G>G@97@;?D763= F;A@7>>7@ 7D7;5: :RO  79>7;FG@9 HA@ 7D@E7:?A67D3FAD @@7@  A= E=AKL:=KM;@L=F .=EAF9J= :=@9F<=DL=F <9K/@=E9"A@P;=F?3@397?7@F

K0:=6/;3:I.<-=6,:/)61;)<176;-6<?1+34=6/

 !e@JMF?KCJa>L= FMLRL=F

 <A= (d?DA;@C=AL <=K _:DG@9E=D[8F75A3 5:;@9E 9Je:=J@AF9MKOMJ<=F _:DG@9E=D[8F7E7?;@3D7 .=EAF9JL9?= EALAFK?=K9EL /=ADF=@E=J$FF=F<MJ;@?=>e@JL 9K@=AZL <9KKAF<A=K=E %9@JAEMJ;@K;@FALL=LO9B=<=!e@JMF?KCJ9>L9F=AF=E_:DG@9E=D[8F7E7?; @3DL=AD?=FGEE=F@9L )=:=F<A=K=F_:DG@9E=D[8F7E7?;@3D7@OMJ<=FO=A

L=J= .=EAF9J=OA=9M;@=AF=*A??7D3=367?;7NGF<=J:L=ADMF?G?3@ )7EAGD57E?=HD9FLMF<CGGJ<AFA=JL

:)=-6=6,)+0?=+0;.J:,-:=6/

O9J9M;@<=J=?AFF<=J.;@O=JHMFCLK=LRMF?RMJ^D67DG@9HA@D3G7@ K?9:R=@FKH=RA>AK;@=.=EAF9J=FMJ>eJ(AL9J:=AL=JAFF=F MZ=J<=EOMJ<= =AF$7@FAD;@9 'DA9D3??RMJ!dJ<=JMF?NGF!J9M=FAE*-!?=KL9JL=L  $7@F77E:=C9E=F<A="=D=?=F@=AL AF=AF=EKLJMCLMJA=JL=F+JG?J9EENGF !J9M=FAF!e@JMF?KHGKALAGF=FRMD=JF=F  A= >7;5:EF7>>G@9E473G8FD39F7 <=K *-! :=Ee@L KA;@ AE -9@E=F <=J &) >7;5:47:3@6>G@9E=A??;EE;A@ ME =AF 9MK?=OG?=F=K 1=J@aDLFAK NGF (AL9J

:=AL=JAFF=F MF< (AL9J:=AL=JF AE *-!  ?=HJa?L NGF =AF=J "=F<=J &MDLMJ  <A= AKCJAEAFA=JMF? 9MKK;@DA=ZL  .A= AKL <AJ=CL= FKHJ=;@H=JKGF >eJ 9DD= !J9?=F <=J"D=A;@:=@9F<DMF? =LO9<=J*:B=CLANA=JMF?:=A<=J=K=LRMF?NGF!e@

JMF?KHGKALAGF=F 0FL=J<=EKH=CL<=J%35:IG5:E8^D67DG@9OMJ<=FM 9 9M;@ 'AF7@L;3> 3@3>KE7@<MJ;@?=>e@JL    


1/15&'4'$E*4'0+064'+$'400'0

G2.7=@2,45>70C.20=-*<<-*<.@><<=<.27>6 -2..-.>=>70-.<O//.7=52,1;.,1=52,1.7 >7- />74<0>=*><0.9;N0=<.27-P;/=.D

=.$"+"+"!"00". "/ %;#0/#=%.". 

(AL=AF=J.;@O9JRK=@=J$FF=FIMGL=NGFJMF< +JG

R=FLDA=?L^KL=JJ=A;@AE=MJGHaAK;@=F.HALR=F>=D<  MJGH9O=ALDA=?L<A=<MJ;@K;@FALLDA;@=.;@O9JRK=@=J

$FF=FIMGL=:=AKA=:=F+JGR=FL  :=F>9DDKMFL=J<=E =MJGHaAK;@=F.;@FALLDA=?L<A=,MGL=AF<=J.;@O=AR    "JGZ:JAL9FFA=F  /K;@=;@A=F MF<aF=E9JC  =MLDA;@e:=J<=E.;@FALL DA=?=F.;@O=<=F )GJO=?=F  $JD9F<  G<=J$L9DA=F (ALJMF< (AG ?=E=D

<=L=F#9MK@9DL=FRMJ%9@J=KEALL= AKLAF^KL=J

J=A;@=AF#d;@KLKL9F<9F-MF<>MFCL=ADF=@E=J$FF=F =JJ=A;@L  AF= FLOA;CDMF?<A=R=A?L <9KK<9K =OMKKLK=AFME<A==<=MLMF?<=Kd>>=FLDA;@ J=;@LDA

;@=F-MF<>MFCK?ML9MK?=HJa?LK=AF<eJ>L=MF<<9KK =:=F>9DDK<A=59@DMF?K:=J=ALK;@9>LKA?FA>AC9FLAKL  KAKLHGKALANRMN=JE=JC=F <9KK<A=9DD?=E=AF= CR=HL9FR>eJd>>=FLDA;@ J=;@LDA;@=+JG?J9EE==MJG

H9O=AL?JMF<KaLRDA;@@G;@AKL 9KR=A?=F<A= J>9@

JMF?=FAF<=F(AL?DA=<KDaF<=JF<=JDA3653EF;@9 77EEA5;3F;A@ <=J=F"JeF<MF?KEAL?DA=<<A= *AKL  5A=DK=LRMF?<=JAKL=KM 9 <MJ;@=AF=FJ=?=DEa

ZA?=FAFL=JF9LAGF9D=F J>9@JMF?K9MKL9MK;@RM=AF=J 1=J:=KK=JMF?<=K74_:D7@?3@397?7@FE:=ARMLJ9

?=FMF<<A=MFL=JK;@A=<DA;@=F-=?=DMF?=FAF<=F=AF

 

R=DF=F'aF<=JFLJ9FKH9J=FL<9JRMKL=DD=F M;@<A= L=;@FGDG?AK;@=F FLOA;CDMF?=F?ADL=KRM:=G:9;@

L=F MKOAJCMF?=F9M><9K.QKL=E<=Kd>>=FLDA;@

J=;@LDA;@=F ?=:e@J=F>AF9FRA=JL=F-MF<>MFCKRM=N9

DMA=J=FMF<>eJ FLK;@=A<MF?KLJa?=J$FF=FAF+GDALAC MF<2AJLK;@9>L9M>RM:=J=AL=F 5M<=F(AL?DA=<=JF<=J ?=@dJ=F<A="=:e@J=F?=K=DDK;@9>L=FNGFaF=

E9JC =MLK;@D9F< !AFFD9F< "JGZ:JAL9FFA=F $JD9F<  $L9DA=F ^KL=JJ=A;@ )GJO=?=F .;@O=AR .;@O=<=F MF</K;@=;@A=F KGOA=$KJ9=DMF<.e<9>JAC9  MJ;@J=?=DEaZA?==F;@E9JCKMF<9L=F=J@=:MF

?=FCGFFL=EALLD=JO=AD==AF?ML=J_:=J:DA;Ce:=J<9K )G@68G@=974_:D7@?3@397?7@FAF<=F=AFR=DF=F 'aF<=JF=JKL=DDLO=J<=F 9R=A?LKA;@ <9KK<A=#=J

9MK>GJ<=JMF?=F <=F=F<9K)G@68G@=974_:D7@?3@3 97?7@FAF MJGH9?=?=Fe:=JKL=@L K=@Ja@FDA;@KAF< )=M=(=<A=F-MF<>MFC=EH>9F?NA9$FL=JF=L A?AL9DA

KA=JMF? J?ME=FL9LAGF=FRM.AFF@9>LA?C=AL<=J -MF<>MFC?=:e@J=FV:=A?D=A;@R=ALA?=J=MJGH9O=AL=J AKCMKKAGFe:=JF=M=2=?=AE-MF<>MFC?=:e@J=F

KQKL=EVMF<<A='MCJA=JMF?F=M=J&MF<$FF=F?=@d

J=FRM<=FOA;@LA?KL=F#=J9MK>GJ<=JMF?=F EAL<=F=F OAJAF<=FFa;@KL=F%9@J=FCGF>JGFLA=JLK=AFO=J<=F  

=.$"+"+"!"00".


"D);-*K0:-66.7"-:>1+-

A= 59@D <=J #9MK@9DL=  <A= A@J= -9<AG  MF< /1 "=JaL= 9FE=D<=F MF< <9EAL )G@68G@=974_:D7@:=R9@D=F AKL9M;@

OA=<=J?=KLA=?=F A= *K;@aLRL <=FFL=AD<=JX*5:I3DLE7:7D @@7@S9M>=LO9 +JGR=FL  AF=FR=FLJ9D=F=ALJ9?RM<A=K=JHGKALAN=F FLOA;CDMF?D=AKL=L<A=.LJ9L=?A= <=J  *  FA;@L EAL =J@G:=F=E 5=A?=>AF?=J G<=J ?9J JG@MF?=F 9M>RMLJ=L=F  KGF<=JF RM X;@8AD?;7D7@ EF3FF LG =A@FDA>>;7D7@S  5M <A=K=E 5O=;C K=LRL <9K 0FL=JF=@E=FKL9JC9M>$F>GJE9LAGFKC9EH9?F=FAF!=JFK=@=FMF<-9<AG KG

OA= (9ADAF?K 9F FG;@ FA;@L ?=E=D<=L= #9MK@9DL= MF< !AJE=F 

 @9L <A=  *E=@J9DK

<=J9JLA?=.;@J=A:=FN=JK9F<L A=$F>GJE9LAGFKK;@J=A

:=F9F0FL=JF=@E=FOMJ<=FAFMF<=KD9F< .;@O=JHMFCL9CLAGF=F<AJ=CL9F A?=FLeE=J$FF=F:RO "=K;@a>LK>e@J=J$FF=F?=K9F<L (9ADAF?K9F#9MK@9DL= OMJ<=FLa?DA;@N=JK9F<L A=K=2=J:= MF<AJ=;L (9JC=LAF? CLANALaL=F@9

:=FE9Z?=:DA;@<9RM:=A?=LJ9?=F <9KK<9K=OMKKLK=AFME<A=)GLO=F<A?

C=AL<=J"=:e@J=F>AF9FRA=JMF?<=Kd>>=FLDA;@ J=;@LDA;@=F-MF<>MFCK<=MLDA;@ ?=O9;@K=FAKL " 16 ()04-6  $FK?=K9EL CGFFL=F  (AG  MJG =AF?=FGEE=F O=J<=F  -MF<  +JGR=FL <=J -MF<>MFC?=:e@J=F ?=@=F 9F <=F *-!   +JGR=FL 9F MF<MF<'aF<=J 1GF<=F;9    MJG-MF<>MFC?=:e@J <A=AE%9@J

HJG /=ADF=@E=J$F=AF?=@G:=FOMJ<=F ?=@=FKGEALJMF<

9F<=F*-! 

 =1/2'6'0<    ='4#06914670)

#-6'0"#*.'0 +.#0<'0

-:!-;+0I.<;*-:1+0<

(AL <=E 7E5:[8FE47D;5:F ?A:L <=J *-! OA=<=J =AF=F <=L9ADDA=JL=F AF

:DA;C AF <9K N=J?9F?=F= "=K;@a>LKB9@J  A= &GFCMJJ=FRKALM9LAGF KL=DDL= <=F *-!AED=LRL=F%9@JNGJ=AF=?JGZ=#=J9MK>GJ<=JMF? /JGLR<=E?=D9F?=K=J

F=ML =AF=FHGKALAN=F%9@J=K9:K;@DMKKRM=JRA=D=FMF<<A=2=J:==AFF9@E=F RM@9DL=F 59@DJ=A;@=F=M=!GJE9L=CGFFL=F<A=d>>=FLDA;@ J=;@LDA;@=+GKALAG

FA=JMF?>=KLA?=F M;@<=E&) &@>;@73G8FD;FFMF<<=E&)+#+/+?=D9F? =K A@J=(9JCLHGKALAGFRMKLaJC=F =KGF<=JKOA;@LA?>eJ<=F J>GD?<=K*-! O9J=F9:=J9M;@<A=#3@67EEFG6;AEEALA@J=FR9@DJ=A;@=FF?=:GL=F  $E =J=A;@ +75:@A>A9;7 KL9F< <A= AF>e@JMF? <=K6;9;F3>7@ @F7@@7@87D@E7 :7@EAE(ALL=DHMFCL

#WUDCWFGT 'KIGPRTQFWMVKQP

2WDNKE8CNWG

#DGTOCNU RQUKVKXGU,CJTGU GTIGDPKU

7PVGTPGJOGPURQNKVKM

9GTDGGTN{UG CWHJQJGO 8QTLCJTGUPKXGCW ,CJTGUGTIGDPKU

 

  





)GYKPPWPF 8GTNWUVTGEJPWPI

$KNCP\ fUVGTTGKEJKUEJGT4WPFHWPM -QP\GTPDKNCP\\WO

fUVGTTGKEJKUEJGT4WPFHWPM -QP\GTP)GYKPPWPF8GTNWUVTGEJPWPI

/KVFGO14( KOOGTIWV KPHQTOKGTV

Ã&#x201E;<GKVKO$KNF³CNU (NCIIUEJKHHFGT 68+PHQTOCVKQP +PHQTOCVKQPUFKTGMVKQP(GTPUGJGP

   


+'51<+#.' +/'05+10

G.16.7!2.<2,1+2==..27@.720&.2=C>6*,1-.74.7 >7-<=.55.7!2.<2,1-*77-8,16*5-2.&>4>7/=-.; O<=.;;.2,12<,1.7K//.7=52,14.2=-.;1.262<,1.7 .-2.75*7-<,1*/=817..27.7 27<.27.;3.=C20.7 ;OJ.78;-7>70>7- 855.?8;D

".%.!,/".  "+0.)"0.&"/.0/,*++

)=AF $;@O=J<=B=LRLFA;@LNGFX+JANAD=?A=FSOA= =LJA=:KH=FKAGF=F =LJA=:KCAF<=J?aJL=F =LJA=:K

9MK>De?=FMF<=LJA=:KC9FLAF=FK;@J=A:=F (AL<=F =LJA=:KH=FKAGF=FAKL=KK=AL!AJE=FCGFCMJK=F +=F

KAGFKC9KK=FMF<dJK=FCJAK=F=AF=9DD=K9F<=J=9DK JMF<=.9;@= =LJA=:K9MK>De?=AFA@J=JLJ9<ALAGF=DD=F !GJE>AF<=FAE*-!FMJFG;@K=DL=F MEFA;@LRM K9?=FN=J=AFR=DL KL9LL  AF=F=LJA=:KCAF<=J?9JL=F ?A:L=KRO9J9E&eFA?D:=J? 9:=JFA;@LAE2A=F=J !MFC@9MK OG<=J=<9J><MJ;@9MK?=?=:=FOaJ=  0F<e:=J<A==LJA=:KC9FLAF=OGDD=FOAJMFKK;@GF ?9JFA;@LO=AL=J9MKD9KK=F 9K9DD=KCdFFL=E9F RO9JRMJXKGRA9D=F&GEH=L=FRS=AF=K?JGZ=F0FL=J

F=@E=FK AFK:=KGF<=J==AF=Kd>>=FLDA;@ J=;@LDA;@=F  Ra@D=F 9:=J<=FNA=D?=KM;@L=F'G4>;5-3>G7 <=F LJA>>L=KOG@DFA;@L 

 

<MJ;@"=:e@J=F?=D<=J<A= 0=Jd>>F=L=AF1=J>9@J=F  MF<Oa@J=F<<A=K=K9M>AFL=JF9LAGF9D=J :=F=AE "9F?=AKL OAJ<AEB=O=ADA?=F'9F<9MK<=FHJAN9L=F (=<A=F -G@J=F9M><A=d>>=FLDA;@ J=;@LDA;@=5A=DK;@=A

:=?=>=M=JL O9K<9K5=M?@aDLX'DA9D3??LGE7;5:F 7E5:[8F;9F7@EF3@6LG:A5:74_:D7@I79

SMKO 

A=.9;@=AKL=JFKL=JMF<9M>AFL=JF9LAGF9D=J :=F=RM :=LJ9;@L=F

.=ALE=@J=J=F%9@J=FKAF<=MJGHaAK;@=(=<A=F

?=O=JCK;@9>L=FMF<%GMJF9DAKL$FF=FN=J:aF<=<9EAL :=>9KKL KA;@<A=K=E/JGEE=D>=M=JRMKL=DD=F MK RO=AO=K=FLDA;@=F"JeF<=F0E<A=J:=ALKHDaLR= MF<9J:=ALKJ=;@LDA;@=F.L9F<9J<KA@J=J&GDD=?$FF=F RMKA;@=JFMF<O=ADB9@JR=@FL=D9F?= J>9@JMF?=F ?=R=A?L@9:=F <9KKMF9:@aF?A?=J%GMJF9DAKEMKMF< =AF,M9DALaLKHJG?J9EEFMJ<GJLEd?DA;@KAF< OG 9M;@<A=J:=ALKN=J@aDLFAKK=<=FAF<=F(=<A=F =K;@a>LA?L=FMF<<9EALKAF<FA;@LFMJ%GMJF9DAKL$F

F=F?=E=AFL=AF=?=OAKK=,M9DALaLMF<NGJ9DD=E 9MKJ=A;@=F<.A;@=J@=AL:A=L=F

MJGH9 :RO  0 O=ALDaM>LMFL=J<=E.A?F=L<=J X2=LL:=O=J:K>J=A@=ALSK=ALE=@J=J=F%9@J=F=AF <MJ;@9MKF=GDA:=J9DRMF=FF=F<=K+JGB=CL <9K d>>=FLDA;@=A=FKLD=AKLMF?=FMF<9M;@<=Fd>>=FLDA;@

J=;@LDA;@=F-MF<>MFCAFK1AKA=J?=FGEE=F@9L :?=

K=@=FNGFF9LAGF9DKL99LDA;@=F)M9F;=FDaM>L<9K X.HA=DSAEE=J?D=A;@+JAN9LE=<A=F:=LJ=A:=J:=CD9

?=FKA;@AFJeKK=De:=JX2=LL:=O=J:KN=JR=JJMF?=FS

JA;@LE9F<9K9M>^KL=JJ=A;@@=JMFL=J DA=?L<=J?JGZ= X3EGE7>>;S O9K<=FKGRA9D=F5MKL9F<<=JdKL=JJ=A

;@AK;@=F(=<A=FD9F<K;@9>LMF<<=K*-!9F:=D9F?L  FMFK;@GF:9D<>eF>%9@J=RMJe;CA= AF>e@JMF? =AF=KF=M=F 9:?=K;@D9FCL=FA=FKLJ=;@LKAE*-!  X"-

S MFL=J<=EEAL %9FM9J   KG?=

F9FFL=XEF[@6;97D7;7$;F3D47;F7D @@7@S9F?=KL=DDL OMJ<=F 


 =1/2'6'0<    ='4#06914670) 29K<9E9DKMF<@=ML=AEE=JFG;@9DKXG@F7D@7: ?7@EBA>;F;E5:7D.3:@E;@@SG<=J?9JX+A6E_@67S P

7@7D3>;@F7@63@F"=J<9;@=JN=JMF?DAEH>LOAJ< AKL FA;@LK9F<=J=K9DK<A=0EK=LRMF?<=K=MJGHaAK;@=F MF<dKL=JJ=A;@AK;@=FJ:=ALKJ=;@LKAE*-!?=O=K=F  5MKL9F<=?=CGEE=F<MJ;@<=FJM;C<=J=LJG>>=

F=F A@J=J1=JLJ=L=J$FF=F ME?=K=LRL9M>=AF=E1=J

@9F<DMF?KO=?MF<FA;@Le:=J<A=J:=ALK?=JA;@L=  .=AL<=EAKL.;@DMKKEAL<=EKQKL=E9LAK;@=F(AKK

:J9M;@XD7;7D$;F3D47;F7D @@7@S9DKN=J<=;CL=F?=

KL=DDL= /9LKa;@DA;@=XD7;7SV<=FX!D=PA:ADALaLKE9@

F=JFSAFF=J@9D:MF<9MZ=J@9D:<=K*-!RME/JGKLV ?A:L=KF9;@OA=NGJDKMLGJ$FF=F 9DK&J=9LAN=AF N=JK;@A=<=FKL=F=J=A;@=F<=K0FL=JF=@E=FK *>L RMNA=D= O=FFA;@=LO99F<A=MKD9?=JMF?=F?9FR=J +JG?J9EE=AE!=JFK=@=F<=FC=  %=<=F>9DDKOMJ<=@A=J=AFKGRA9D=J.L9F<9J<?=K=LRL  <=KK=F=FGJE=J>9CLAK;@=JMF<KQE:GDAK;@=J2=JLAF =AF=JNGF+J=C9JAKA=JMF?MF<.;@=AFD=?9DALaL?=HJa?

L=FdKL=JJ=A;@AK;@=F(=<A=FD9F<K;@9>LMF:=KLJALL=F AKL  AFd>>=FLDA;@ J=;@LDA;@=J2=JL <=F=KFA;@LFMJRM N=JL=A<A?=F KGF<=JF9M;@RMN=J:J=AL=JF?ADL  $FJeKK=DOMJ<=<A=K=X&) #^EG@9Se:JA?=FK9DKX7EF 'D35F;57S (G<=DD?=OeJ<A?L DD=J<AF?KFA;@LAEeJG<=J 2=LL:=O=J:KCGEEAKK9JAF KGF<=JFAF<=F-aMEDA;@C=A

L=F<=JGDAB[;E5:7@!AGD@3>;EF7@8^67D3F;A@! 

0F<K=AL<=E%9 K=AL AKL<9KXFLA *-! &DAE9S FG;@J9M=J <9KMF<A>>=J=FRA=JL=X*-! 9K@AF?SRME J=?=DJ=;@L=FX1GDCKKHGJLS?=OGJ<=F 9K9DD=KDaM>L 9M><=E-e;C=F=AF=J=D=?K;@9>L9: <A=K=AL=LDA

;@=F%9@J=F=AFX.H9JHJG?J9EESF9;@<=E9F<=J=F LJa?LMF<>eJ<9KD9M>=F<=%9@J 9M;@FG;@EAL =AF=JX"=@9DLKJMF<=SMFL=J<=J$F>D9LAGFKJ9L= X:=DG@FLSOGJ<=FAKL =FB=FA?=F <A=KA;@9EX*-! 9K@AF?SKG?=JF= :=L=ADA?=F =?9DG:KA=AF<=F+9JL=AR=FLJ9D=F <=F -=<9CLAGFKKLM:=FG<=J9E.L9EELAK;@KALR=F Ed;@

L=A;@<A=:=DA=:L=!J9?=F9;@<=JX5MCMF>L<=K*-!S ?=JF==AFE9DME?=C=@JLKL=DD=F)=@E=F.A=KA;@ :ALL==AFO=FA?5=ALRME)9;@<=FC=F MF<KL=DD=F.A= KA;@<9FF<G;@E9D<A=5MCMF>L<=JdKL=JJ=A;@AK;@=F ^>>=FLDA;@C=AL <=J@=AEAK;@=F(=<A=FD9F<K;@9>L  G@F==AF=F*-!AFK=AF=JB=LRA?=F"JdZ=FGJ<FMF? MF<-GDD=NGJ #E 0F<B9 <G;@$E_:JA?=FCdFFL=<9K&9FLAF=F=KK=F L9LKa;@DA;@:=KK=JO=J<=F OaJ==AF&AF<=J?9JL=FAE !MFC@9MK<MJ;@9MK=AF=>Jd@DA;@=.9;@= MF<9M;@AF <=F'9F<=KKLM<AGK?a:==K=AFA?=KRMLMF

".%.!,/".

   


 =1/2'6'0<

'465%*D2(70)+5641)4#//

G.; 2<=8=8;72,1=7>;/P;0.<.55<,1*/=52,1. <87-.;7*>,1@2;=<,1*/=52,1.%.;=<,1O9/>70D

&//55".%,##". 1#*;++&/ %" &."(0,.&+

.7DF E5:^B87@AKL=AFRMLA=>KL:=LJA=:KOAJLK;@9>LDA;@=J =?JA>>MF<?=F9MAF<A=K=E.AFFe:=JFAEEL<=J*-! 9M;@OAJLK;@9>LDA;@=1=J9FLOGJLMF?>eJ<A=:=J=AL?=

KL=DDL=F(ALL=DRMJ J>eDDMF?<=Kd>>=FLDA;@ J=;@LDA;@=F (=@JO=JLK -MF< +JGR=FL<=J(ALL=DCGEE=F9MK /=ADF=@E=J=FL?=DL=FV9DKGNGF<=F)MLR=J$FF=F <AJ=CLVMF< +JGR=FL9MK JDdK=F <A=<MJ;@<A= 1=JE9JCLMF?<=Kd>>=FLDA;@ J=;@LDA;@=F+JG?J9EEK =JRA=DLO=J<=FCdFF=F A=K=/=ADMF?AKL=AF= FLD9K

LMF?>eJ<A=dKL=JJ=A;@AK;@=F#9MK@9DL= <=FF=?9DOA= E9F=KJ=;@F=L <9KF?=:GLOaJ=MENA=D=KaJE=J G@F=2=J:MF? 

=AF=G<=J9F<=J=2=AK=J:=AL?A:L -MF<  <9NGF KAF<<AJ=CL:=AE*-!9F?=KL=DDL =J-=KLOAJ<NGF =AF=JNA=DK;@A;@LA?=FX5MDA=>=JAF<MKLJA=S:=K;@a>LA?L  AF<=J=F5=FLJME<A=0FL=JF=@E=F<=JdKL=JJ=A;@A

K;@=F(=<A=FAF<MKLJA=KL=@=F

$F=AF=JFGLGJAK;@MFLJ=M=F(=<A=F:J9F;@=AKL<=J *-!=AFKL9:AD=J+9JLF=J <=J<9K=KL==AF=JCD=AF=F  9:=JD=AKLMF?K>a@A?=FJ9F;@=9:N=JD9F?L .GAKL<=J *-!"9J9FL>eJ+JG<MCLAGF=F <A=F9;@KLJACL?=OAFF

GJA=FLA=JL=F&JAL=JA=FFA=<=F2=?AF<A=.LM<AGK ?=>MF<=F@aLL=F  ?9D G:<9K!=JFK=@>ADE=EALKL9J

C=E'GC9DCGDGJAL GCME=FL9LAGF=FEAL9MKK;@DA=Z

=J*-!N=JKL=@LKA;@9DK+9JLF=J<=JdKL=JJ=A;@AK;@=F DA;@dKL=JJ=A;@AK;@=E=RM? GE=<QAFdKL=JJ=A;@A

2=J:=OAJLK;@9>L 2=J:MF?AKL=AF/=AD<=Kd>>=FLDA;@=F K;@=J0E?9F?KKHJ9;@=G<=J.HA=DK@GOKEAL@=AEA

K;@=F.L9JKKAF<  J>GD?KHJG<MCLAGFOA=.;DE;@6"3; '=:=FKMF<AF=AF=ECD=AF=F(9JCLOA=^KL=JJ=A;@ E7D 9M;@/=AD<=Kd>>=FLDA;@ J=;@LDA;@=F.=D:KLN=JKLaF<

O=J<=FD=A<=JRMC=AF=E PHGJLK;@D9?=JAF<=F=@=

FAKK=K DK,M9DALaLKHJG<MR=FL:A=L=FOAJ9M>9DD=F E9DA?=F&JGFDaF<=JF =AF=<=JO=K=FLDA;@=F1GJ9MK

+D9LL>GJE=F=AF0E>=D< <9K>eJ<A=DGC9D=2AJLK;@9>L K=LRMF?=F>eJAFL=JF9LAGF9D9?A=J=F<=+JAN9LK=F<=J  ?=F9MKGOA;@LA?AKLOA=>eJ<A=?JGZ=F(9JC=F 2=J

:MF?@9LAE*-!=AF=F2=JL  JKLEAL<=FRMKaLRDA;@=F PH=JAE=FLA=J>J=M<A?=+JG?J9EEN=J9FLOGJLDA;@= :JAF?=FKG$FFGN9LAGF=FRMKL9F<= <A=MFL=JCGEE=J

(ALL=DF9MK<=F2=J:==JDdK=F=FLKL=@L=AF+JG

RA=DD=EJM;CFA;@L:=KL=@=FCdFFL=F "=OAFF:JAF

?J9EE <9K<=F"=K=LR=F<=J(9JCLOAJLK;@9>LOA<=J

?=F<=K+JG?J9EEG@F=-=F<AL= KL=@=FC9FF &DAF?LOA=C9M>EaFFAK;@=J0FKAFF AKL 9:=Jd>>=FLDA;@ J=;@LDA;@=JM>LJ9? OA=<=J*-!A@F =J*-!AKL/=AD<=K2AJLK;@9>LK?=K;@=@=FKAF^KL=J

N=JKL=@L  J=A;@MF<+9JLF=JNA=D=J=J>GD?J=A;@=J0FL=JF=@E=F  A=K=-GDD=AKLKA;@=JFA;@L&=JF<=KM>LJ9?K 9:=J =J*-!AKL(GLGJFA;@LFMJ>eJ?=K=DDK;@9>LDA;@= KGF

<=JF9M;@OAJLK;@9>LDA;@=2=JLK;@dH>MF? M;@G@F= /=AD<=J1=J9FLOGJLMF? <A=<=J*-!LJa?LA=&MFKL <9:=AAKL <=Fd>>=FLDA;@ J=;@LDA;@=FM>LJ9?C=AF= .LM<A=AF.9;@=F,?I79D7@F34;>;F[F:AFA;@EAJ '9KL>eJ<A=OAJLK;@9>LDA;@1=J9FLOGJLDA;@=FO=J<=FRM KA;@=J <9KK<=J*-!?ML (=FK;@=F9M><A= D9KK=F KGF<=JFRM=AF=J'=A<=FK;@9>L 

&//55".%,##".

   


! %+%!)*%0!%  !!*%-&-!(#)%(+%)0+(5"# %% +%(+-(*%"&%%*%))! +*#* %+-(%+$4%*#! ( *#! 0+ +"%)!%,&(! %%-!(+%)%! *,(3%(%-%%-!(+%)( %&*+%!(*!#+%)-%! *$ ,(3%(*%+#!"+$),( #*%%'))% %%)!%+%)(03 #*  (4%*#!  (-(*!%*+%)#)! * ) %+(!%(!!*#%!%-#*($4#! * )+%)5(+%)(+#!"+$(#,%*0+#!% +%-!(+%)#*0*#! 1 &%*#! 1+%)( +"+%*)! (%



   ='4#06914670)



&*"". 



 


+0 '9')70)

#65#%*' 1+0<;*4-1*<?1--;1;<

+GDALAC 2=LL:=O=J: F=M=&GEEMFAC9LAGFKL=;@FGDG?A=F)A=E9F<O=AZ@=ML= OA=<A=(=<A=FFMLRMF?<=J 5MCMF>LL9LKa;@DA;@9MKK=@=FOAJ< !eJ?=:e@J=F>AF9FRA=JL=(=<A=F?ADL.A=KAF<<=J=NdDC=JMF?N=J

H>DA;@L=LMF<FA;@L?=OAFFGJA=FLA=JL=F A?=FLeE=J$FF=FMF<O=J:=J=D=N9FL=F5A=D?JMHH=F =J*-!:A=L=L<9@=J=AF"=K9ELH9C=LAF/1 -9<AGMF<$FL=JF=LMF<C9FFFA;@LVB=F9;@$FL=J=KK=<=J&JALA

C=J$FF=FV9M>?=L=ADLO=J<=F$Fd>>=FLDA;@ J=;@LDA;@=$F>GJE9LAGFMF<CGEE=JRA=DD=0FL=J@9DLMF?  $F9FKHJM;@KNGDD=F&MDLMJ9M>LJ9?MF<O=J:=OAJCK9E=K FL=JL9AFE=FL !eJ9DD==J=A;@=?=DL=FAE*-! d>>=FLDA;@ J=;@LDA;@=.L9F<9J<KMF<1=JH>DA;@LMF?=F  =JM>LJ9??ADLV9DK1=JH>DA;@LMF??=?=Fe:=J<=J^>>=FLDA;@C=AL DK*JA=FLA=JMF?>eJ<A=*-! (AL9J:=AL=J$FF=F

'4#75(14&'470) =)41<I<*:)=+0<-16-7**A

2=J<=FDDL9?AF<=J2=DL<=J(=<A=FC=FFL O=AZ,M9DALaLOAJ</9?>eJ/9?F=MN=J@9F<=DL O=FFFdLA? EMKK9M;@MEKA=?=KLJALL=FO=J<=F $F<=F-=<9CLAGF=F AE(9F9?=E=FL AF<=J^>>=FLDA;@C=AL ,M9DALaL  AFK:=KGF<=J=,M9DALaLKBGMJF9DAKEMK=FLKL=@LK=DL=FAECMJR9LEA?=F.HJAFLME(9JCL9FL=AD= KGF<=JF <MJ;@<=>AFA=JL=.=D:KLN=JH>DA;@LMF?=F CGFCJ=L=FKHJe;@= &GEH=L=FRMF<FA;@LRMD=LRL<MJ;@>AF9FRA=DD= MF<GJ?9FAK9LGJAK;@=-9@E=F:=<AF?MF?=F  ,M9DALaLE9;@L0FL=JK;@A=<=KA;@L:9J .A=N=J:AF<=L9:=J9M;@9DD= <A=9FA@JAFL=J=KKA=JLKAF< "=?=F<=F 5=AL?=AKLCMJRD=:A?=J/J=F<K "=?=FMFRMDaKKA?==?=@JDA;@C=AL=F<=J+GDALAC M;@?=?=F<A=XMFKA;@L:9J= #9F<<=K(9JCL=KS O=FFKA=FMJ&eJRMF?=FN=JD9F?L OGL9LKa;@DA;@E=@JM>E=JCK9EC=AL E=@J5=ALMF< E=@J"=D<=J>GJ<=JDA;@KAF< !eJ<=F*-!AKL,M9DALaLNGJ9DD=E<A=,M9DALaL<=JM>LJ9?K=J>eDDMF? 9KAKL<=J=JC=FF:9J=0FL=JK;@A=<RM CGEE=JRA=DD=F(AL:=O=J:=JF  AF,M9DALaLKE=JCE9D <9K9M;@AF5MCMF>L=AF=FLK;@=A<=F<=J(=@JO=JL>eJ <A=^>>=FLDA;@C=ALK=AFOAJ<

  


-?-/=6/6;8:K+0-)4<=6/

!eJ<A=CGEE=F<=F%9@J=?ADL$E%9EE=JL9DO=J<=FC=AF=F=M=F$<==F>eJ<A=5MCMF>L?=:GJ=F  =J*-!:J9M;@L<9@=J+=JKH=CLAN=F $FFGN9LAGFMF<=AF=9LLJ9CLAN=1AKAGF9DK=ALJ9?>eJ<A="=K=DDK;@9>L NGFEGJ?=F "=J9<=AF0E:JM;@KH@9K=F :=?D=AL=LNGF&JAK=FKR=F9JA=FMF<5MCMF>LKaF?KL=F C9FFd>>=FL

DA;@ J=;@LDA;@=$F>GJE9LAGFK MF<0FL=J@9DLMF?KIM9DALaLAF<=F9M<AGNAKM=DD=F(=<A=F=AF=O9@JF=@E:9J= MF<:J9M;@:9J=*JA=FLA=JMF?MF<=AF=F=JC=FF:9J=F2=JLMF<)MLR=F>eJ<A=^>>=FLDA;@C=AL<9JKL=DD=F  =J*-!AKL<9@=J9M;@AF5MCMF>L=AF=AFNA=D>9;@=J#AFKA;@LKAFFNGDD=?=K=DDK;@9>LDA;@= AFJA;@LMF?V 9DKD=:=F<A?=J&GEEMFAC9LAGFKJ9ME>eJ<A==NdDC=JMF? 'G4>;5-3>G7AKLKGEALC=AF=K=D:KLRM>JA=<=F==@9MHLMF? KGF<=JF!GJ<=JMF?MF<FKHJM;@RM?D=A;@ F9;@E=@J2=JL F9;@E=@J,M9DALaLMF<F9;@9MKJ=A;@=F<=F$FN=KLALAGF=F>eJ=AF=&GEEMFAC9LAGFKIM9DA

LaL <A=<=FF>GJ<=JMF?=F=AF=KEG<=JF=F RMCMF>LK>a@A?=FMF<D=AKLMF?KKL9JC=Fd>>=FLDA;@=F-MF<>MFCK =FLKHJ=;@=F  AF.;@JALLRM=AF=JK=D:KL:=OMZL=F ?D9M:OeJ<A?=FMF<?=E=AFOG@DGJA=FLA=JL=F#9DLMF?

6;8:=+0   

  

  

  

=J=ALK=AF>eJF=M=#=J9MK>GJ<=JMF?=F  !J=AJaME=MF<(d?DA;@C=AL=F>eJ=AF=F=M="=F=J9LAGF NGF(=<A=FE9;@=J$FF=FK;@9>>=F

"<)<=;  







$F=O=?MF? '=JF>a@A? FKHJM;@KNGDD

 

 

-:;8-3<1>-  







 

 

AF=FFa@=JMF?9F=AF=5MCMF>L AF<=J<A=,M9DALaL <=J&GEEMFAC9LAGF=AF==FLK;@=A<=F<=-GDD=KHA=D=FOAJ<













!eJB=<= F AFR=DF= F !eJ<A="=K=DDK;@9>L !eJ^KL=JJ=A;@

   ='4#06914670)

0)'$16



 


  




%) #!2%%& *-) !%*5"+* !%*5"((5"* !* !%*5"%!)5(%-!(+%)+ #!)*%  ! *"&%,%*!&%##)!%

(*,&##+ )%$4#! %"%



,00#.&"!+$"+/0"&+  .;/&!"+0    


7'..'08'4<'+%*0+5  e:=JK=LRL9MKMAD<AF?HM:DA;N9DM= -=F=OAF?L@=>GJ9<A?AL9DOGJD< 'GF<GF  /@=J=9LAN=+=JKH=;LAN= /@=!MLMJ=-GD=G>+M:DA;.=JNA;=JG9<;9KLAF? 'GF<GF+J=EAME+M:DAK@AF? 9E9JLAF $KG =DN=<=J= 9KK;@dF=!=JFK=@=F !J9FC>MJL9 ( .M@JC9EH1=JD9? dJJ A=L=J ^>>=FLDA;@ J=;@LDA;@=J-MF<>MFCMF<<A=1GJ?9:=F<=K MJGH9J=;@LK $F(=<A9+=JKH=CLAN=F #=>L   .  V dJJ A=L=J .aF?=J %=KKA;9 X(=<AMEMF<!9CLGJS -MF<>MFCJ=;@LDA;@="JMF<DAFA=F $F=H<E=<A=F)J    . V ;C@9J<L %GK=> 2A==J>eDDL<=Jd>>=FLDA;@ J=;@LDA;@=-MF<>MFCK=AF=F&MDLMJ9M>LJ9? EHAJAK;@='9F?R=AL:=LJ9;@LMF?=F  J:=ALKH9HA=J=<=K$FKLALMLK>eJ-MF<>MFCdCGFGEA=9F<=J0FAN=JKALaLRM&dDF #=>L  "J9@9E F<J=O ^>>=FLDA;@ J=;@LDA;@=J-MF<>MFCAF<=J=EGCJ9LA= '=CLAGF=F9MK<=J9CLM=DD=F&JAK=<=J $F(=<A9 +=JKH=CLAN=F #=>L   . V  "JM:=J /@GE9K X2AJ:D=A:=F<=J'=M;@LLMJES ^>>=FLDA;@ J=;@LDA;@="JMF<>=KL=FO=J<=F:=KL=@=F $F@JAKLD -=AF@9J< #e>

>=D D=E=FK -G@J=J FF=DA=K=#? #9Ld>>=FLDA;@ J=;@LDA;@=K!=JFK=@=F5MCMF>L-=A@=(=<A=FOAKK=F>eJ<A=+J9PAK<=K!#2A=F

.LM<A=F?9F?K%GMJF9DAKEMK 2A=F#GDR@9MK=F1=JD9? . V #9N=D 1`;D9N +J=>9;= $F)AKK=F @JAKLA9F.  < (9CAF?9A>>=J=F;= +M:DA;.=JNA;=JG9<;9KLAF?AFL@= MJGH=9F(=<A9 '9F<K;9H=  9KLD=A?@%G@F'A::=Q+M:DAK@AF? . NAAVNAAA #=JJ=K 1GDC=J RAL F9;@KM=<<=MLK;@= <='=:=FK@AD>=AE/1 A=#AD>K J:=AL=J *FDAF=MFL=J@LLH

OOO KM=<<=MLK;@= <=

CMDLMJ 9JLAC=D    6    7  %9CM:GOA;R &9JGD $>FGLMK L@=FO@G+M:DA;K=JNA;=:JG9<;9KLAF?9F<;MDLMJ=AFL@=KL;=FLMJQ $F)AKK=F @JAKLA9F.  #? (9CAF?9A>>=J=F;= +M:DA;.=JNA;=JG9<;9KLAF?AFL@= MJGH=9F(=<A9'9F<K;9H=  9KLD=A?@%G@F'A::=Q+M:DAK@AF? .  V %9JJ=F*L>JA=< "=K=DDK;@9>LK MF<(=<A=FO9F<=D9DK#=J9MK>GJ<=JMF?>eJ<=Fd>>=FLDA;@=F-MF<>MFC $F#9DD +=L=J@JAKLA9F #? ^>>=FLDA;@C=ALAE29F<=D !=JFK=@=FAE<A?AL9D=F2=LL:=O=J: (9AFR=J/9?=<=J!=JFK=@CJALAC<  (9AFR5! . V &9EE9FF 0O= J:=ALK:=<AF?MF?=FMF<,M9DALaLAE-MF<>MFC  AF?9F?KKL9L=E=FL %1 !9;@L9?MF?X5MCMF>L<=K-MF<>MFCK ,M9DALaLS   .=HL=E:=J  $!=JDAF '9F?=FKL=AF "GLL>JA=< &MDLMJ9DK$<=FLALaLKLJa?=JMF<2AJLK;@9>LK>9CLGJYMF<9DK!9CLGJ>eJ<A= MJGHaAK;@=5MCMF>LK>a@A?

C=AL 1GJLJ9?9M><=E1A=JL=F&MDLMJHGDALAK;@=FMF<=KCGF?J=KKCMDLMJ E9;@L =MJGH99E  %MFA AF=JDAF (9RRGF= "A9;GEG MDLMJ9DAN=JKALQ9F<+M:DA;.=JNA;=JG9<;9KLAF?  (9JJA9?=G>$FL=J=KLK$F=MLK;@=0) .*

&GEEAKKAGF#? &MDLMJ=DD=1A=D>9DLV0FK=J?=E=AFK9E=J-=A;@LME GFF . V +D=AL?=F !JALR e:=JK=LRL9MK MJGH=9F0FAGF?=F;Q>GJ!MF<9E=FL9D-A?@LK#?  AN=JKALQ/GGDCAL>GJ>9;LM9DHJG

?J9EE=KAFHM:DA;K=JNA;=L=D=NAKAGF  .;@a;@L=J (9JCMK +M:DA;.=JNA;=AE<A?AL9D=F2=LL:=O=J: $F#9DD +=L=J@JAKLA9F#? ^>>=FLDA;@C=ALAE29F<=D !=JFK=@=F AE<A?AL9D=F2=LL:=O=J: (9AFR=J/9?=<=J!=JFK=@CJALAC<  (9AFR5! . V .;@a;@L=J (9JCMK 29J=G<=J2=JLA=HM:DARAKLAK;@="JMF<D9?==AF=JF=M=F(=<A=F?=K=DDK;@9>L $FHH=D  N9#? 29J= G<=J2=JL!=JFK=@=FROAK;@=F9K@GOMF<+M:DA;19DM= (9AFR=J/9?=<=J!=JFK=@CJALAC<  (9AFR . V .;@=AL@9M=J $F?JA<RAL F9;@=JLJ9E %eJ?=F (9LLK;@=A:= 9K F<=<=J!=JFK=@CMDLMJ !J9FC>MJL9 ( !AK;@=J/9K;@=F:M;@ 1=JD9? .;@O9JRCGH> A=LJA;@ !GJME>eJ9DD=eJ?=J !eF>R=@F/@=K=Fe:=J<=Fd>>=FLDA;@=F-MF<>MFC $F<=JK 5OAK;@=FFKHJM;@ MF<CR=HL9FR =Jd>>=FLDA;@ J=;@LDA;@=-MF<>MFCAE29F<=D =ALJa?=9MK<J=AZA?%9@J=F =JDAF'$/1=JD9?  .  V  .L9K;@=F BdJF )=M=+JG?J9EE>GJE=F>eJ=AF=F(=<A=FE9JCLAE29F<=D X'=:=FVO9KKGFKLS AF=/@=E=FOG;@=?=?=F <=F&J=:K $F(=<A9+=JKH=CLAN=F #=>L   .  V  2=:=J /AE .;@9M=FKA=FG;@G<=JK=F<=FKA=K;@GF2GJ9F5MK;@9M=J+M:DA;19DM==JC=FF=F $FHH=D  N9#? 29J= G<=J2=JL!=JFK=@=FROAK;@=F9K@GOMF<+M:DA;19DM= (9AFR=J/9?=<=J!=JFK=@CJALAC<  (9AFR . V

 


/24'557/ #=J9MK?=:=JMF<#=JKL=DD=J ^KL=JJ=A;@AK;@=J-MF<>MFC *-! 2eJR:MJ??9KK=  2A=F !eJ<=F$F@9DLN=J9FLOGJLDA;@ *-! +M:DA;19DM=&GEH=L=FRR=FLJME -=<9CLAGF &D9MK0FL=J:=J?=J 9FA=D9'9LRD %G@9FF=K=JF=JL AD<=JF9;@O=AK *-! +#*/*"-+#$ J=?=FR=J!=KLKHA=D= !J=M<= 0DJA;@.=A<D!ADE+JG<M;LAGFK  !AK;@=J!ADE GJF=DA91GKH=JFAC  -GO=+JG<M;LAGFK #GD?9+@GLG?J9H@A= 5AL9&G=N=J JM;CCGGJ<AF9LAGF +JG<M;LAGF.QF<A;9L="E:# 2A=F JM;C /QHGJM;C.9J=K"E:# 2A=F

[*-! 

$.)     -=9CLAGF=F #AFO=AK=MF<&JALAC:ALL=9FCD9MK MFL=J:=J?=J*-! 9L

 


09r0032  

...

Read more
Read more
Similar to
Popular now
Just for you