? Punto de Equilibrio - Fórmula, Ejemplos y Más

You might also like

Download as pdf or txt
Download as pdf or txt
You are on page 1of 12

012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ

&+3(4
'()ÿ
-4+,
564ÿ+-
17ÿ.(/01ÿ2+
89ÿ;<=>?ÿ@AÿAB<C9CDEC?ÿAFÿG<H=@?ÿ9?F
C=IEAF?FÿG<DEA=ÿA=ÿF<ÿ>?>H9C@H@ÿ9?FÿIHF>?F
J>H=>?ÿ9?FÿKCL?FÿG?M?ÿ9?FÿNHECHD9AFOP
QB<A99?ÿB<CAEAÿ@AGCEÿ3(+ÿ0(ÿS1T.UVWU
+,0XÿY+/24+/21ÿ-1ÿT4,T1ÿ3(+ÿ+,0X
ZU,0U/21[ÿ+/ÿ106U,ÿ.U-U56U,[/4ÿ+,0X,
ZU/U/21ÿ/4ÿ+,0X,ÿ.+624+/21P
8F>Aÿ>\EMC=?ÿ>HMDC\=ÿAFÿG?=?GC@?ÿG?M?
;<=>?ÿM<AE>?ÿ?ÿ<MDEH9ÿ@AÿEA=>HDC9C@H@P
]AI^=ÿA9ÿ.160U-ÿ̀S1/1T4.+24UaÿAF>?
EA;EAFA=>HÿA9ÿ=CNA9ÿ@AÿNA=>HFÿMb=CM?a
>EH@<GC@?ÿA=ÿC=IEAF?Fÿ>?>H9AFÿB<Aÿ@ADA=
FAEÿCI<H9ÿHÿ9?FÿG?F>AFÿ>?>H9AFP
cHEHÿG?M;9AMA=>HEÿ9?ÿH=>AEC?EaÿA9ÿ;E?KAF?E
dA=LHMb=ÿ]H9HeHEaÿ@?GA=>Aÿ@Aÿ=<AF>E?ÿ
S(6,1ÿ1/-4/+ÿ2+ÿf4/U/gU,ÿS16.16U04YU,h
S1/,06(SS4i/ÿ2+ÿT12+-1,
f4/U/S4+61,aÿAj;9CGHÿA=ÿ>\EMC=?FÿFA=GC99?F
B<\ÿAFÿA9ÿ;<=>?ÿ@AÿAB<C9CDEC?k
lmnopÿrstuvwpÿxÿyxzy{|oxÿzxnÿ}v~{t{ÿ{y~t
yv€zoxÿ{nÿwpÿ{zopÿu‚z~upÿz{y{npt~pÿ|ptp
}v{ÿwpÿ{u|t{npÿ|v{pÿnvƒn~no~tÿ„ÿysux
py{twxÿ{ÿvzpÿupz{tpÿn{zy~wwpÿ{n{
zv{notxÿm†y{w‡ˆ
8=ÿ;?GHFÿ;H9HDEHFaÿAFÿ9HÿGH=>C@H@ÿMb=CMH
@AÿC=IEAF?FÿB<Aÿ@ADAFÿ>A=AE
;HEHÿA=G?=>EHEÿ<=ÿDH9H=GAÿEA=>HD9AÿA=>EA
9HÿC=NAEFC‰=ÿŠÿ9HÿEA>ECD<GC‰=ÿA=ÿ><
=AI?GC?Pÿ]Cÿ>CA=AFÿM‹FÿG?=?GCMCA=>?F
F?DEAÿ9?FÿT12+-1,ÿf4/U/S4+61,aÿA9ÿ;<=>?ÿ@A
AB<C9CDEC?ÿFAÿ;<A@AÿA=>A=@AEÿG?M?ÿA9
M?MA=>?ÿA=ÿB<Aÿ9?FÿC=IEAF?FÿŠÿAIEAF?F
F?=ÿCI<H9AFP
ŒAÿAF>HÿMH=AEHaÿIEHGCHFÿHÿAF>AÿEAG<EF?a
;?@E‹FÿFHDAEÿSiT1ÿSU-S(-U6ÿ+-ÿ5+/+f4S41
2+ÿ0(ÿ+T.6+,UÿŠÿ@A>AEMC=HEÿFCÿ><ÿ=AI?GC?
AFÿEA=>HD9Aÿ?ÿ=?P
89ÿ;<=>?ÿ@AÿAB<C9CDEC?ÿFCI=CKCGHÿB<Aÿ><
=AI?GC?ÿAF>‹ÿ?D>A=CA=@?ÿ9HFÿNA=>HF
=AGAFHECHFÿ;HEHÿ;?@AEÿF?;?E>HEÿ?ÿG<DECE
9?FÿIHF>?FÿC=NAE>C@?FÿA=ÿAF>Aÿ;E?GAF?ÿ@A
NA=>HPÿ8F>?ÿAFÿ;?FC>CN?aÿŠHÿB<AÿAF>A
C=@CGH@?Eÿ@AÿEA=>HDC9C@H@ÿ>Aÿ?KEAGA
M^9>C;9AFÿDA=AKCGC?Fÿ;HEHÿ@CEAGGC?=HEÿ><
MHEGHÿ;?EÿA9ÿGHMC=?ÿ@A9ÿ\jC>?P

822!!!"#  "#2$2$#2% %% 2 0239


012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
&'()*(+ÿ-)./01.2

3456
@>567879ÿ4B>C
;4ÿ<7=<>=
Aÿ;4ÿ CA7?ÿ4=
=CD?
EFÿ(G(.ÿH'(IJÿH(ÿ')1ÿ/(K'(I1ÿ(L/G(.1M
N'OJÿ(.*1HJÿH(ÿP0'QJÿH(ÿ(P(N*FRJÿ(.*S
NJ).*1)*(L()*(ÿ()ÿ)TL(GJ.ÿGJQJ.Mÿ')1ÿH(
01.ÿL(QJG(.ÿ1NNFJ)(.ÿK'(ÿ/'(H(.ÿ21N(Gÿ(.
G(10FU1Gÿ')ÿ1)S0F.F.ÿH(ÿ/')*JÿH(ÿ(K'F0FVGFJ
()ÿ*'.ÿ0W)(1.ÿH(ÿ/GJH'N*J.ÿJÿ()ÿ*'
)(XJNFJYÿ
-)1ÿR(UÿK'(ÿ2(LJ.ÿH(PF)FHJÿK'[ÿ(.ÿ(0
/')*JÿH(ÿ(K'F0FVGFJMÿ(.ÿFL/JG*1)*(ÿG(.10*1G
01ÿG(0(R1)NF1ÿK'(ÿ(.*(ÿF)HFN1HJGÿ*F()(
/1G1ÿ*'ÿ(L/G()HFLF()*JYÿ
\6]>ÿ
ÿ^54aA<C
4ÿD?C5;7ÿ
Aÿ>57ÿ_C9C̀5ÿa454?7=ÿ;4
c0ÿ*()(GÿLS.ÿF)PJGL1NFd)ÿ.JVG(ÿ(0ÿ/')*J
H(ÿ(K'F0FVGFJMÿ(.*(ÿF)HFN1HJGÿ/'(H(
1O'H1G*(ÿ1ÿ*()(Gÿ')1ÿ/(G./(N*FR1ÿN01G1ÿH(
0JÿK'(ÿ/'(H(.ÿ10N1)U1GÿNJ)ÿ*'ÿ)(XJNFJY
e.*Jÿ.FX)FPFN1ÿK'(Mÿ10ÿ.1V(Gÿ=Aÿfg5CfAÿB>4
;4D49ÿa757?ÿ@7?7ÿB>4ÿ=7ÿC5_4?9C̀5ÿ_7=a7
=7ÿ@457hÿ@>4;49ÿ@?Ai4<67?64ÿ<C4?6A9
AD846C_A9ÿj6C=49ÿ45ÿ6>ÿ4f@?497Yÿ
k]ÿlC?4<<CA57ÿ6>9ÿ496?764aC79
mJLJÿO1ÿ.1V(.Mÿ=7ÿ_4567ÿfg5Cf7
49@4?7;7ÿ@7?7ÿ5Aÿa757?ÿ5Cÿ@4?;4?ÿ;C54?A
49ÿ6?7D787?ÿ6>9ÿ496?764aC79
D79n5;A64ÿ45ÿ>5ÿAD846C_AYÿo01)*(1G
HFP(G()*(.ÿFH(1.ÿNG(1*FR1.ÿ/'(H(ÿ1O'H1G*(
1ÿ0JXG1GÿK'(ÿ*'ÿ/GJH'N*JÿJÿ.(GRFNFJÿ.(1ÿ0J
.'PFNF()*(L()*(ÿ1*G1N*FRJÿ/1G1
10N1)U1Gÿ01.ÿR()*1.ÿLW)FL1.Yÿ
p]ÿq>4;49 ÿr7<4? ÿ94a>CfC456Aÿ7
6>9 ÿAD846C_A9ÿiÿ7<<C A549
s()ÿ()ÿN'()*1ÿK'(ÿ(0ÿ/')*JÿH(ÿ(K'F0FVGFJ
H(V(ÿ.(GÿN10N'01HJÿH(ÿPJGL1ÿNJ).*1)*(Y
o1G1ÿ(00JMÿH(V(.ÿ21N(Gÿ')1ÿ(R10'1NFd)ÿH(
01.ÿ1NNFJ)(.ÿF)*(G)1.ÿ()ÿ*'ÿ)(XJNFJY
tJÿG(NJL()H1V0(ÿ(.ÿ21N(Gÿ(.*1
(R10'1NFd)ÿH(ÿL1)(G1ÿL().'10Yÿu96Aÿ64
@4?fC64ÿf4;C?ÿ9Cÿ=A9ÿAD846C_A9ÿ@=75647;A9
94ÿ<>f@=C4?A5ÿiÿB>vÿ496?764aC79ÿ5A
w>5<CA575Yÿ

xyz{|}{ÿ€|ÿ€‚€ƒ{ÿ„ÿ† |‡
ƒˆÿ‚{‰Šzÿ‹{z€Œ|

822!!!"#  "#2$2$#2% %% 2 1239


012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
&'()*+ÿ-'+./0

12ÿ456ÿ789:;<9=<ÿ>9ÿ?@ÿ9>A87;8
BCDÿFGHIJIKLIMÿILCNCMÿIKÿOPMÿKIQPRGPMSÿNPJ
IMPSÿITCOUCÿOCÿMGLVCRGWKÿIKÿOCÿXVIÿMI
IKRVIKLJCÿLVÿIYNJIKFGYGIKLPÿDÿLPYC
CRRGWKZÿ[JGYIJPSÿCMIQUJCLIÿFIÿNPFIJÿRV]JGJ
IOÿKGTIOÿFIÿGKTIJMGWKÿXVIÿIKLJIQVIMÿNCJC
^CRIJÿRJIRIJÿLVÿKIQPRGPZ
_OÿNVKLPÿFIÿIXVGOG]JGPÿ̀@>a>ÿ<b@a<c?>ÿ<
?>9>cÿd56ÿ789:;<9=<ÿ>9ÿ>eÿ̀@9?8ÿa>
`<c?;a<ÿbÿ>9ÿ>eÿ̀c87>68ÿa>ÿ>e<f8c<7;g9ÿa>
7<a<ÿ>6?c<?>A;<Zÿ
h2ÿi`8c?@9;a<a>6ÿa>ÿ;9j>c6;g9
kGÿIMLlMÿ]VMRCKFPÿCRLGTCYIKLIÿGKTIJMPJIM
NCJCÿHGKCKRGCJÿLVÿKVITPÿIYNJIKFGYGIKLPÿP
CQJIQCJÿVKCÿIKLJCFCÿFIÿIHIRLGTPÿCÿLV
IYNJIMCÿImGMLIKLISÿFI]IJlMÿRCORVOCJÿIO
NVKLPÿFIÿIXVGOG]JGPZ
_MLIÿCKlOGMGMÿ̀>cd;?>ÿn@>ÿe86ÿ̀86;fe>6
;9j>c68c>6ÿbÿe<6ÿ;96?;?@7;89>6ÿ:;9<97;>c<6
j;6@<e;7>9ÿ?@ÿc>9?<f;e;a<a
a>?>9;a<d>9?>ZÿoIMNVpMÿFIÿLPFPSÿMGÿLV
NJPFVRLPÿKPÿIMÿJIKLC]OISÿLVÿKIQPRGPÿKP
NJPMNIJCJlZ
q2ÿrc>j;6;g9ÿa>eÿc;>6A8
sVCKFPÿ^GRGMLIÿVKÿCKlOGMGMÿFIOÿNVKLPÿFI
IXVGOG]JGPÿDÿFILIRLCMLIÿOPMÿGKQJIMPM
YtKGYPMÿCRINLCFPMÿNCJCÿIOÿKIQPRGPS
NVIFIMÿNJITIJÿIOÿJGIMQPÿXVIÿQIKIJCK
RGIJLCMÿFIRGMGPKIMZ
uOÿLIKIJÿGFIKLGHGRCFPÿIOÿTCOPJÿFIOÿGKFGRCFPJ
FIÿJIKLC]GOGFCFSÿ̀@>a>6ÿ<7?@<cÿ789
<9?>c;8c;a<aÿ7@<9a8ÿc>78987>6ÿn@>ÿ>6?<
7<9?;a<aÿdv9;d<ÿ98ÿ>6?5ÿ6;>9a8
<e7<9=<a<Z

wVIKLIxÿyKMNOCM^

822!!!"#  "#2$2$#2% %% 2 9239


012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
'() *(+,
7ÿ-.
-)(839
ÿ0(ÿ1-2
(2ÿ63+, 0(ÿ 29:4132
97 -4
;<=><?ÿA?BCDEDFGBÿHDÿIFJGKCD=EIDÿLÿ?H
MDHGKÿ><?ÿCI?=?ÿ?HÿJ<=CGÿA?ÿ?><IHINKIGÿJDKD
<=Dÿ?FJK?BDOÿCDFNIP=ÿ?BÿEI?KCGÿ><?
?QIBC?=ÿ<=DÿB?KI?ÿA?ÿA?BM?=CDRDBÿ><?
A?N?BÿC?=?Kÿ?=ÿE<?=CDÿBGNK?ÿ?BCDÿMDKIDNH?S
TU<PÿI=EG=M?=I?=C?BÿJ<?A?ÿV?=?KDK
<CIHIWDKÿ?BC?ÿCIJGÿA?ÿK?E<KBGX
Y<=C<DHF?=C?OÿBG=ÿHGBÿBIV<I?=C?BZ
[7ÿ()ÿ3+-ÿ\(44-]9(+,-ÿ83(ÿ(*-2^(ÿ(+
,_4]9+7)ÿ(17+`]917)S
aDF?=CDNH?F?=C?Oÿ=Gÿ?Bÿ<=ÿK?E<KBG
><?ÿBIKMDÿA?ÿ<CIHIADAÿ?=ÿHGBÿFGF?=CGB
AG=A?ÿ<=DÿEGFJDbcDÿ?BCPÿJDBD=AGÿJGK
<=DÿEKIBIBS
d7)ÿe-),7)ÿfÿ17),7)ÿ+7ÿ)(ÿ]-+,9(+(+
64727+e-07)OÿEGFGÿBcÿHGÿK?gH?RDÿ?BC?
?BC<AIGSÿhBÿA?EIKOÿBG=ÿ?BCi=ADK?Bÿ><?
MDKcD=ÿ?=ÿg<=EIj=ÿDÿHDÿ?EG=GFcDÿA?H
JDcBÿLÿB?ÿM?=ÿDg?ECDAGBÿJGKÿHDÿFIBFDS
kiBIEDF?=C?Oÿ?HÿJ<=CGÿA?ÿ?><IHINKIGO
D<=><?ÿJ<?ADÿB?KMIKC?ÿ?=ÿHDÿNDRDADÿA?
I=VK?BGBÿlLÿC?ÿDL<A?ÿDÿBDHADKÿI=M?KBIG=?BmO
=Gÿg<=EIG=DKiÿ?=ÿCGAGBÿHGBÿEDBGBS
n63+,
2(](+,7)ÿ6-429-ÿ
1-2
7ÿ0(ÿ
(839 :497132-4ÿ(2
YDKDÿA?BE<NKIKÿFiBÿBGNK?ÿ><Pÿ?Bÿ?HÿJ<=CG
A?ÿ?><IHINKIGOÿC?ÿ?=B?bDK?FGBÿE<iH?BÿBG=
HGBÿ?H?F?=CGBÿEHDM?ÿJDKDÿBDN?KÿEjFG
EDHE<HDKÿ?HÿJ<=CGÿA?ÿ?><IHINKIGSÿpIÿ=GÿCI?=?B
EG=GEIFI?=CGBÿA?ÿCPKFI=GBÿgI=D=EI?KGBO
q=GÿC?ÿJK?GE<J?BrOÿC?ÿ?QJHIEDK?FGBÿNK?M?B
EG=E?JCGBÿgiEIH?BÿA?ÿ?=C?=A?KS
aDÿgjKF<HDÿA?HÿJ<=CGÿA?ÿ?><IHINKIGÿCI?=?ÿHGB
BIV<I?=C?Bÿ?H?F?=CGBZÿ
stÿu7),7)ÿv9.7)
aGBÿEGBCGBÿgIRGBÿlwxmÿBG=ÿCGAGBÿD><?HHGB
VDBCGBÿ><?ÿ=GÿMDKcD=OÿF?BÿDÿF?BSÿy9(+(+
3+ÿ*-274ÿ)9]92-4ÿ,707)ÿ27)ÿ]()()z
9+0(6(+09(+,(](+,(ÿ0(ÿ13{2ÿ)(-ÿ(2ÿ*-274
0(ÿv-1,34-19̀+S
kiBIEDF?=C?OÿBG=ÿCGAGBÿHGBÿVDBCGBÿ><?
CI?=?ÿHDÿ?FJK?BDOÿI=A?J?=AI?=C?F?=C?ÿA?
><?ÿM?=AD=ÿ?HÿJKGA<ECGÿGÿB?KMIEIGS
TU<I?K?Bÿ<=ÿ?R?FJHGÿEHDKGÿA?ÿHGÿ><?ÿB?KcD
<=ÿEGBCGÿgIRGXÿYI?=BDÿ?=ÿ?HÿDH><IH?KÿA?ÿ<=
DJDKCDF?=CGÿlGÿ<=ÿI=F<?NH?ÿV?=PKIEGmS
pI=ÿIFJGKCDKÿ?HÿMGH<F?=ÿA?ÿM?=CDBÿLÿHD
ED=CIADAOÿ?BC?ÿMDHGKÿ=GÿEDFNIDKiÿL
BI?FJK?ÿB?Kiÿ?HÿFIBFGS

822!!!"#  "#2$2$#2% %% 2 &239


012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
'(ÿ*+,-./ÿ012+334(ÿ50(64(ÿ12+ÿ(+
+(6073+,+8ÿ*+ÿ908+.0ÿ:-;0<ÿ=6.4(ÿ+;+9>34(
>2+*+8ÿ(+.ÿ34(ÿ(-52-+86+(?
@+52.4(
A94.6-B0,-48+(
CDÿFGHIGHÿJKLMKNOPH
Aÿ*-:+.+8,-0ÿ*+ÿ34(ÿ,4(64(ÿ:-;4(/ÿ34(ÿ,4(64(
Q0.-073+(ÿSTUVÿ(48ÿ012+334(ÿ12+ÿQ0.W08ÿ+8
:28,-X8ÿ*+3ÿQ034.ÿ*+ÿ:0,62.0,-X8<ÿA12W
+8,486.094(ÿ12+ÿOGHÿYGHIGHÿJKLMKNOPH
ZK[IMP[P[ÿ\[KÿLPOKYM][ÿ^MLPYIKÿYG[ÿPO
JGO\ZP[ÿ^PÿJP[IKH/ÿ34ÿ12+ÿ12-+.+ÿ*+,-.
12+ÿ(-ÿ+(6+ÿ(+ÿ+8,2+86.0ÿ+8ÿ029+864/ÿ0(W
34ÿ_0.`8ÿ6097-a8ÿ34(ÿ,4(64(ÿQ0.-073+(<
bc2aÿ>2+*+ÿ,48(-*+.0.(+ÿ,494ÿ28
+;+9>34ÿ,+.6+.4ÿ*+ÿ34ÿ12+ÿ(48ÿ34(ÿ,4(64(
Q0.-073+(dÿ'8ÿ+(6+ÿ,0(4/ÿ+8,486.094(
+3+9+864(ÿ,494ÿ34(ÿ(-52-+86+(?
e0(ÿ,49-(-48+(ÿ(47.+ÿ30ÿQ+860ÿ*+ÿ28
8+54,-4<
e0ÿ9084ÿ*+ÿ47.0<
e0ÿ906+.-0ÿ>.-90<

fDÿFGHIGHÿIGIKOPH
'(6+ÿ+3+9+864ÿ*+ÿ30ÿ+,20,-X8ÿ84ÿ+(ÿ9`(
12+ÿOKÿH\ZKIGLMKÿ^PÿOGHÿYGHIGHÿgMhGHÿYG[
OGHÿYGHIGHÿJKLMKNOPH<ÿi+.4ÿ84ÿ(X34ÿ+(64?
,484,-+8*4ÿ34(ÿ,4(64(ÿ64603+(/ÿ6+8+94(ÿ30
>4(-7-3-*0*ÿ*+ÿ(07+.ÿ+3ÿ>2864ÿ*+ÿ+12-3-7.-4<
bi4.ÿ12aÿ*+,-94(ÿ+(64dÿi4.ÿ30ÿ>.+9-(0
12+ÿ+j-(6+ÿ*+86.4ÿ*+3ÿ>2864ÿ*+ÿ+12-3-7.-4?
34(ÿ-85.+(4(ÿ(48ÿ-*a86-,4(ÿ0ÿ34(ÿ,4(64(
64603+(<ÿ'(ÿ*+,-./ÿ30ÿ:X.9230ÿ,3̀(-,0
(+.W0ÿ(-9>3+9+86+?
Tklmklÿmkmopqlÿrÿstuvqlklÿmkmopql
w<ÿFK[IM^K^ÿ^PÿPx\MOMNLMG
'(ÿ30ÿ,086-*0*ÿ0ÿ,03,230./ÿ+3ÿQ034.
-5203-60.-4ÿ12+ÿ.+(2360ÿ*+ÿ30ÿ:X.9230ÿ*+3
297.03ÿ*+ÿ.+8607-3-*0*<ÿ'8ÿ30ÿ:X.9230
906+9`6-,0ÿ>0.0ÿ,03,230.ÿ+3ÿ>2864ÿ*+
+12-3-7.-4/ÿ+(6`ÿ.+>.+(+860*4ÿ,494ÿyq<
A_4.0/ÿ+3ÿ>2864ÿ*+ÿ+12-3-7.-4ÿ6097-a8
>2+*+ÿ(+.ÿ,03,230*4ÿ>4.ÿ28-*0*/ÿ34ÿ12+ÿ+(
>4(-73+ÿ,484,-+8*4ÿ34(ÿ(-52-+86+(ÿQ034.+(?

822!!!"#  "#2$2$#2% %% 2 z &239


012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
&'
ÿ)*+,*ÿ
-./
93ÿ
-35,.ÿ4500,.12
./03ÿ
*450,./0*6ÿ7/380*
:;<=ÿ?@;<@ÿABCDEÿ;=ÿFG=H=ÿ?@I@?=J
K=HLMI<=ÿNMÿHLOL;LPIÿH=ÿN@;ÿ?@;<@;
OMJLMQN=;ÿ=I<J=ÿ=NÿIRK=J@ÿH=ÿGILHMH=;
SG=ÿTG=J@IÿO=IHLHM;ÿ=IÿGIÿ=;FM?L@ÿH=
<L=KF@ÿ?@I?J=<@UÿW=FJ=;=I<MÿNMÿ;GKMÿH=
<@H@;ÿN@;ÿ?@KF@I=I<=;ÿSG=ÿT@JKMIÿGIM
GILHMHÿH=ÿFJ@HG?<@ÿ@ÿH=ÿ;=JOL?L@U
XYGL=J=;ÿO=JN@ÿH=ÿGIMÿT@JKMÿKZ;ÿ;=I?LNNM[
:;<Mÿ=;ÿNMÿTPJKGNM\
B] ^_d]lÿbab
lgc^dbÿag
efgiÿhi
kÿhi ldldb_b^cd]ÿjÿB]^_]ÿabcdbefg
mFMJ<=ÿH=NÿnOGoÿ=I?@I<JMJZ;ÿ=IÿNMÿTPJKGNM
=NÿpJ=?L@ÿH=ÿO=I<MÿGIL<MJL@ÿAqCDEUÿ:;<=
=N=K=I<@ÿ=;ÿFMJ<=ÿH=Nÿ?@;<@ÿOMJLMQN=ÿrÿ;=
QM;Mÿ=Iÿ=NÿFJ=?L@ÿSG=ÿ<L=I=ÿGIMÿGILHMHÿH=
FJ@HG?<@ÿ@ÿH=ÿGIÿ;=JOL?L@U
:;ÿH=?LJoÿ;LÿSGL=J=;ÿ;MQ=Jÿ?PK@ÿ?MN?GNMJÿ=N
FGI<@ÿH=ÿ=SGLNLQJL@oÿ=I<@I?=;ÿH=Q=;
MFNL?MJÿNMÿ;LsGL=I<=ÿTPJKGNM\
qt
hihÿ
d_bjÿ
cd]B]
ÿy^ÿB]
_]^^ÿ_u]dÿvab
]^ÿckdÿbwqc
efggÿxhi
d]ÿdl_bgcÿag
d]zi_b
:IÿJ=;GK=Ioÿ+3ÿ90-093ÿ2.ÿ80{/.ÿ93ÿ8*+,*ÿ{0|*
}*/ÿ2.ÿ90{3/3580.ÿ/3+42,.5,3ÿ932ÿ}/380*
450,./0*ÿ~ÿ932ÿ8*+,*ÿ-./0.123ÿ450,./0*
A=;<MÿHLT=J=I?LMÿ;G=N=ÿ;=Jÿ?@I@?LHMÿ?@K@
=NÿKMJs=IÿH=ÿ?@I<JLQG?LPIEU
3‚40
)€*ÿ
201/8.2
0*ƒ842./ÿ32ÿ}45,*ÿ93
„=IL=IH@ÿ?@K@ÿQM;=ÿN@;ÿ=N=K=I<@;ÿFMJM
?MN?GNMJÿ=NÿFGI<@ÿH=ÿ=SGLNLQJL@
K=I?L@IMH@;ÿ=IÿNMÿ;=??LPIÿMI<=JL@Jo
M @JMÿ<=ÿK@;<JMJ=K@;ÿ=NÿFM;@ÿMÿFM;@ÿH=
?PK@ÿ?MN?GNMJÿ=NÿFGI<@ÿH=ÿ=SGLNLQJL@Uÿ
Xp@JÿHPIH=ÿ?@K=I†MJ[ÿpG=;ÿ?@IÿNM
=;<JG?<GJMÿH=ÿNMÿTPJKGNMÿKM<=KZ<L?MoÿSG=
;=JZÿNMÿSG=ÿ<=ÿF=JKL<LJZÿM?=Jÿ=Nÿ?ZN?GN@U
‡MÿTPJKGNMÿH=NÿFGI<@ÿH=ÿ=SGLNLQJL@ÿ=;ÿNM
;LsGL=I<=\ÿÿ

Š‹ŒŽŒ‹‘
:;<MÿTPJKGNMÿ=;ÿ;=I?LNNMoÿ;@N@ÿ?@I;<MÿH=ÿN@;
ˆÿ=N=K=I<@;ÿSG=ÿK=I?L@IMK@;
MI<=JL@JK=I<=UÿnMQ=ÿJ=;MN<MJÿSG=ÿH=Q=ÿ;=J
MFNL?MHMÿMNÿMIZNL;L;ÿH=NÿFGI<@ÿH=ÿ=SGLNLQJL@
=IÿGIÿ;@N@ÿFJ@HG?<@U
‰Lÿ;=ÿSGL=J=ÿ?MN?GNMJÿ=;<MÿTPJKGNMÿFMJMÿGI
I=s@?L@ÿSG=ÿ<L=I=ÿOMJL@;ÿ<LF@;ÿH=
822!!!"#  "#2$2$#2% %% 2 239
012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
'()*+,-)./ÿ12ÿ,32,+2)ÿ1.ÿ+5ÿ'),)ÿ63.
,)6'217)8ÿ
9:ÿ-)6;(ÿ15ÿ,+15-;<ÿ:2ÿ,;2,+2;(ÿ12ÿ'+5-)ÿ*1
1=+>2>?(>)/ÿ@;Aÿ;2B+5).ÿ'+5-).ÿ;
,)5.>*1(;(ÿ';(;ÿ=+1ÿ2;.ÿC;(>;?21.
16'21;*;.ÿ.1;5ÿ;,1(-;*;.D
:2ÿ+.;(ÿ12ÿ'(1,>)ÿ*1ÿC15-;ÿ+5>-;(>)/
*EFEGÿIGEJKLILMEÿNKEÿEGMEÿGE
EGMIFOEPQIÿERÿQSRGEQKERQTIÿUEÿKR
IRVOTGTGÿUEÿWELQIUS8ÿX2ÿ'(1,>)ÿ1.ÿ+5
Y;,-)(ÿ*1-1(6>5;5-1ÿ;2ÿ6)615-)ÿ=+1ÿ12
,2>15-1ÿ*1,>*1ÿ,)6'(;(ÿ+5ÿ'()*+,-)ÿ)
.1(C>,>)8ÿZ2;5-1;ÿ+5;ÿ1.-(;-1B>;ÿ*1
'(1,>).ÿ=+1ÿ'1(6>-;ÿ;2,;5[;(ÿ12ÿ5>C12ÿ*1
C15-;.ÿ1.-;?21,>*)8
\Oÿ]KRMSÿUEÿENKTOTFLTSÿEGÿGSOSÿKRI
LE^ELERQTIÿUEÿOSÿW_RTWSÿNKEÿUEFEG
`ERUELÿ]ILIÿRSÿ]ELUELÿUTRELS8ÿX.
*>Y1(15-1ÿ;ÿ2).ÿ)?71->C).ÿ*1ÿC15-;.ÿ+
)?71->C).ÿ,)61(,>;21.ÿ=+1ÿ'+1*1.
2)B(;(ÿ15ÿ-+ÿ16'(15*>6>15-)8ÿX2ÿ)?71->C)
*1ÿC15-;.ÿ*12ÿ51B),>)ÿ'+1*1ÿ.+'1(;(ÿ12
'+5-)ÿ*1ÿ1=+>2>?(>)/ÿ*1'15*>15*)ÿ*1ÿ2;.
1.-(;-1B>;.ÿ=+1ÿ>6'21615-1.ÿAÿ2;
1Y>,>15,>;ÿ=+1ÿ21ÿ15-(1B+1.ÿ;ÿ2;
>5C1(.>a58
bENKT
cdWSÿ
OTFLJL
TSeI^TQILÿEOÿ]KRMSÿUE
Z;(;ÿ15-15*1(ÿ617)(ÿ.)?(1ÿ=+fÿ1.ÿ12ÿ'+5-)
*1ÿ1=+>2>?(>)/ÿ-1ÿ,)6';(->(16).ÿ+5
1716'2)ÿ.15,>22)ÿ';(;ÿ,;2,+2;(ÿ12ÿ'+5-)ÿ*1
1=+>2>?(>)ÿA/ÿ;.g/ÿ'+1*;.ÿ(1'2>,;(2)ÿ15ÿ-+
51B),>)ÿ)ÿ16'(15*>6>15-)8ÿ
h6;B>5;ÿ=+1ÿ6;517;.ÿ+5ÿ51B),>)ÿ*1
,)22;(1.ÿAÿ->151.ÿ+5ÿ'+5-)ÿ*1ÿC15-;ÿ15ÿ+5
,15-()ÿ,)61(,>;28ÿX2ÿ'(1,>)ÿ*1ÿ+5ÿ,)22;(ÿ1.
*1ÿijkÿlmn/ÿ12ÿ,).-)ÿ')(ÿ,;*;ÿ,)22;(ÿ1.ÿ*1
iokÿlmnÿAÿ12ÿ,).-)ÿY>7)ÿ*12ÿ;2=+>21(ÿ1.ÿ*1
ipkkÿlmn8ÿX5-)5,1./ÿ-)*).ÿ1.-).ÿ*;-).ÿ-1
'1(6>-15ÿ'2;5-1;(ÿ2;ÿ.>B+>15-1ÿ1,+;,>a58ÿ

q;ÿ6;A)(g;ÿ*1ÿ16'(1.;./ÿ')(ÿ5)ÿ*1,>(
-)*;./ÿ-(;?;7;5ÿ,)5ÿ2;ÿ15-(1B;ÿ*1ÿ+5ÿ
EGMIUSÿUEÿLEGKOMIUSG/ÿ2).ÿ,+;21.ÿ;A+*;5ÿ;
1C>*15,>;(ÿ12ÿ1.-;*)ÿ*1ÿ2;ÿ16'(1.;ÿ.1Br5
.+.ÿ1.-(;-1B>;.8ÿ
m;?16).ÿ=+1ÿ12ÿ'+5-)ÿ*1ÿ1=+>2>?(>)/ÿ;2ÿ.1(
+5ÿ>5*>,;*)(ÿ*1ÿ(15-;?>2>*;*/ÿ(1=+>1(1ÿ*1
+5ÿ;532>.>.ÿY)(6;2ÿAÿ*1ÿ1.-;(ÿ'2;.6;*)ÿ15
+5ÿ(1')(-1ÿY>5;5,>1()8ÿZ)(ÿ1.)/ÿ*1?1.
822!!!"#  "#2$2$#2% %% 2 &239
012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
&'()*+)(ÿ-./0ÿ1(&23-&(ÿ)4ÿ'5*60ÿ+)
)753438(309
:3153)*+0ÿ)4ÿ);)/'40ÿ+)4ÿ*)10-30ÿ+)
-044&()<=ÿ'5)+)<ÿ'&<&(ÿ60+0<ÿ65<ÿ+&60<ÿ&
5*&ÿ>0;&ÿ+)ÿ)?-)4ÿ'&(&ÿ'(0-)+)(ÿ&ÿ>&-)(
)4ÿ1(@23-09ÿA)8)<ÿ-040-&(ÿ40<ÿ+&60<ÿ+)ÿ)<6&
20(/&ÿ'&(&ÿ75)ÿ4&ÿ>)((&/3)*6&ÿ'5)+&
1(&23-&(ÿ)4ÿ'5*60ÿ+)ÿ)753438(30ÿ-0*ÿ/&B0(
2&-343+&+9

C&84)/0<ÿ+)ÿ4&ÿ3*20(/&-3.*ÿ75)
&1()1&(@<ÿ)*ÿ-&+&ÿ5*&ÿ+)ÿ4&<ÿ-045/*&<D
E*ÿ4&ÿ'(3/)(&ÿ-045/*&ÿFGH=ÿ3*<)(6&<ÿIJK
LMNOJOPKÿRPMONOJKÿSÿTLPÿKPÿRPMOPUVM=
75)ÿ'5)+)ÿ3(ÿ&5/)*6&*+0ÿ+)ÿWÿ)*ÿWÿ0ÿ+)
Xÿ)*ÿX=ÿ+)')*+3)*+0ÿ+)ÿ65
'4&*6)&/3)*609
E*ÿ4&ÿ<)15*+&ÿ-045/*&ÿFYHÿ-040-&<ÿPI
ZUP[NSÿOPIÿZUSOL[\S]KPURN[NS9
E*ÿ4&ÿ6)(-)(&ÿ-045/*&ÿF^Hÿ_&*ÿIJK
RPM\JKÿTLPÿKPÿS`\NPMPMÿOPÿaLMNOJOÿb
ZUP[NSc9
E*ÿ4&ÿ-5&(6&ÿ-045/*&ÿFAHÿ_&ÿPIÿ[SK\S
RJUNJ`IP=ÿ)4ÿ-5&4ÿ<)ÿ/5463'43-&ÿ)4ÿ-0<60
_&(3&84)ÿ+)ÿdeÿ'0(ÿ4&ÿ5*3+&+9
E*ÿ4&ÿ753*6&ÿ-045/*&ÿFEHÿ_&*ÿISKÿ[SK\SK
fNgSK9
E*ÿ4&ÿ<)?6&ÿ-045/*&ÿFhHÿ_&*ÿISKÿ[SK\SK
\S\JIPK9
E*ÿ4&ÿi463/&ÿ-045/*&ÿFjHÿ_&ÿIJÿL\NINOJO
75)ÿ<)ÿ0863)*)ÿ+)ÿ4&ÿ<3153)*6)ÿ2.(/54&9ÿ

:)4)--30*&<ÿ60+&<ÿ4&<ÿ-)4+&<ÿ-0*ÿ+&60<
75)ÿ6)*1&<ÿ)*ÿ4&ÿ>0;&=ÿ45)10=ÿ6)ÿ+3(31)<ÿ&ÿ4&
0'-3.*ÿ+)ÿ3*<)(6&(ÿ1(@23-0<ÿBÿl43<60mÿ
E*ÿ8&<)ÿ&ÿ)<0<ÿ+&60<=ÿ<)ÿ'5+0ÿ-&4-54&(
75)ÿ)4ÿ'5*60ÿ+)ÿ)753438(30ÿ+)4ÿ*)10-30ÿ)<
+)ÿWenÿ)<60ÿ<31*323-&ÿ75)=ÿ)*ÿ65ÿ*)10-30ÿ+)
822!!!"#  "#2$2$#2% %% 2 7239
012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
&'(()*+,-ÿ/+0+,ÿ1+2/+*ÿ34ÿ)&&+,'*5',ÿ6)*)
2'ÿ7)2)*ÿ25ÿ6+*/+*ÿ/52+*'8

9>:;<ÿ >?IDIÿ
?@A?BEAÿ
?CDÿEF
ÿGDHLÿ
@EAÿ
IE
E@;H EFÿ
J;AK IE
EM;?F?NH?LO
PFÿGDH@EAÿIEÿ>E@;H?IDIÿE>ÿ;ADÿGEI?ID
IEÿFDÿNHECQDÿEAKHEÿK;ÿJ;AKLÿIEÿEM;?F?NH?LÿR
K;>ÿSEAKD>ÿHEDFE>ÿLÿJHE>;J;E>KDID>8ÿT,U+
+(+V+2U'ÿU+ÿVW+,U*)ÿ()ÿ,+7W*5/)/ÿXW+
U5+2+ÿUWÿ2+7'&5'ÿ)2U+,ÿ/+ÿXW+ÿ&'V5+2&+,
)ÿ52&W**5*ÿ+2ÿ6Y*/5/),ÿZ6'*ÿ/+0)['ÿ/+ÿUW
6W2U'ÿ/+ÿ+XW5(50*5'\ÿ,5ÿ(),ÿ1+2U),
/5,V52W]+28
T,U'ÿ6W+/+ÿ,+*ÿ^U5(ÿ,5ÿ/+,+),ÿ&)(&W()*
&W_2U'ÿ6W+/+,ÿ*+/W&5*ÿUWÿ6*+&5'ÿ+2
*+,6W+,U)ÿ)ÿW2ÿ2W+1'ÿ&'V6+U5/'*ÿ'ÿXWY
U)2ÿ,+7W*)ÿ+,U_ÿUWÿ+V6*+,)ÿ/+ÿW2)ÿ&)/̀)
+2ÿ(),ÿ1+2U),8ÿa+ÿb+&b'-ÿ&)(&W()*ÿUW
V)*7+2ÿ/+ÿ,+7W*5/)/ÿ+2ÿ+(ÿ6W2U'ÿ/+
+XW5(50*5'ÿ+,ÿ,5V6(+8ÿT,U)ÿ+,ÿ()ÿcd*VW()e
fg hivgjnkÿhÿmjgjwÿjnnjÿixÿoyhhpjmngomyÿqopkjinvhgjmnrgnnsÿzÿtÿ{okvr
ujk
mjÿj|opwp}hprÿqpkihjnrns
~'*ÿ+[+V6('-ÿ,5ÿUWÿ6W2U'ÿ/+ÿ+XW5(50*5'ÿ+,ÿ/+
34-444ÿ€aÿ]ÿUW,ÿ1+2U),ÿ,'2ÿ/+ÿ3‚-444
€a-ÿUWÿ+V6*+,)ÿU5+2+ÿW2ÿV)*7+2ÿ/+
,+7W*5/)/ÿ/+ÿ‚-444ÿ€a8ÿ52ÿ+V0)*7'-ÿ(',
V_*7+2+,ÿ/+ÿ,+7W*5/)/ÿ7+2+*)(V+2U+ÿ,+
+ƒ6*+,)2ÿ&'V'ÿW2ÿ6'*&+2U)[+-ÿXW+ÿ6W+/+
&)(&W()*,+ÿ/+ÿ()ÿ,57W5+2U+ÿV)2+*)e
fg
hjj|gohwjpiwpnj}ÿkxhÿpÿyrmhÿjqjpÿnknojiyihjoonjhrpnmnvggsÿmmÿgÿquj
„s
nÿzkÿÿ{o
tÿuj krvÿmgjn
k v
vgnÿhjgwjnÿx
yhjnoyojnvgmgn
€,)2/'ÿ+(ÿ+[+V6('ÿ)2U+*5'*-ÿ+(ÿV)*7+2ÿ/+
,+7W*5/)/ÿ,+*`)ÿW2ÿ6'&'ÿV_,ÿ/+(ÿ3†ÿ‡8
ÿ
‰IEÿ
?J>ÿJDHF?Dÿ
DF
EM;? NH?LCDAŠDHÿEFÿJ;AKL
‹'V'ÿU+ÿV+2&5'2)V',ÿ)2U+*5'*V+2U+-ÿ()
&*+)&5d2ÿ/+ÿW2ÿ)2_(5,5,ÿ/+(ÿ6W2U'ÿ/+
+XW5(50*5'ÿU+ÿ6*'6'*&5'2)ÿ(',ÿ*+&W*,',ÿXW+
2+&+,5U),ÿ6)*)ÿU'V)*ÿV+['*+,ÿ/+&5,5'2+,
6)*)ÿ+(ÿ0+2+c5&5'ÿ/+ÿUWÿ2+7'&5'8
52ÿ+V0)*7'-ÿ&W)2/'ÿ*+15,),ÿUWÿ)2_(5,5,
/+(ÿ6W2U'ÿ/+ÿ+XW5(50*5'-ÿ6W+/+,ÿ/+,&W0*5*
XW+ÿ2'ÿb),ÿ'0U+25/'ÿ(',ÿ*+,W(U)/',
822!!!"#  "#2$2$#2% %% 2 34239
012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
&'(')&*(+ÿ-./01ÿ'(2)ÿ3*2/4/)ÿ3*ÿ(')ÿ2)3
)5'32)&*6)+ÿ7(8ÿ9.'ÿ(/ÿ2.ÿ:.32*ÿ&'
'9./5/;6/*ÿ'(ÿ/3(*(2'3/;5'ÿ*ÿ<.=ÿ;)>*?ÿ'(
<*<'32*ÿ&'ÿ2*<)6ÿ)44/*3'(+ÿ
A/ÿ2'ÿ'(21(ÿ:6'B.32)3&*ÿ9.Cÿ:.'&*ÿD)4'6
:)6)ÿ<'>*6)6ÿ</ÿ:.32*ÿ<.'62*?ÿ;/'3?ÿD)=
)5B.3)(ÿ'(26)2'B/)(ÿ9.'ÿ:.'&'(ÿ.2/5/0)6
:)6)ÿ6'&.4/6ÿ5*(ÿ4*(2*(ÿ&'ÿ:6*&.44/E3ÿ=
).<'32)6ÿ5*(ÿ/3B6'(*(ÿ'3ÿ2.ÿ'<:6'()+ÿ7
4*32/3.)4/E3?ÿ2'ÿ4*<:)62/6'<*(ÿ)5B.3)(
2142/4)(F
GTU
HÿJKLMNO
RXKVORSPÿQRSKPQ
ÿTUMVW
ÿPVO MSÿRSÿXMÿOKS
Z3ÿ)>.(2'ÿ<*&'6)&*ÿ&'ÿ5*(ÿ:6'4/*(ÿ&'ÿ2.(
:6*&.42*(ÿ*ÿ('6[/4/*(ÿ:*&68)ÿ\]^_`^]ab]ÿd
d̀ÿedfegdÿ=?ÿ:*6ÿ'3&'?ÿ3/['5)6ÿ2.ÿ:.32*ÿ&'
'9./5/;6/*+ÿ7.39.'ÿ'(ÿ:*(/;5'ÿ9.'ÿ2'ÿ[')3
4*<*ÿ.3)ÿ'<:6'()ÿh'4*3E</4)i?ÿ:.'&'(
:*(/4/*3)6ÿ2.ÿ3'B*4/*ÿ4*<*ÿ.3)
)52'63)2/[)ÿ&'ÿ)52*ÿ[)5*6+
j(*ÿ(8?ÿ:6*4.6)ÿ9.'ÿ2.ÿ:6*&.42*ÿ*ÿ('6[/4/*
4.'32'ÿ4*3ÿ)5B.3)ÿ&/k'6'34/)4/E3
(.k/4/'32'ÿ:)6)ÿD)4'6ÿ'(2'ÿ2/:*ÿ&'
[)6/)32'+ÿl'ÿ6'4*<'3&)<*(ÿ9.'?ÿ)32'(ÿ&'
2*<)6ÿ4.)59./'6ÿ&'4/(/E3?ÿOMÿmWnMSÿMNÿQP
TRQoOWVPÿXMÿTUMVWRSÿXMÿQPSÿMLTUMSPSÿpKM
mKNVWRNPNÿMNÿMSMÿLWSLRÿSMVORUÿPQÿpKM
PSTWUPSÿQQMqPUÿr'(ÿ&'4/6?ÿ5*(ÿ9.'ÿ('613ÿ2.
4*<:'2'34/)sÿ=ÿ9.Cÿ2/:*ÿ&'ÿ6'(.52)&*(
*;2.[/'6*3+
75B.3*(ÿ&'ÿ5*(ÿ[)5*6'(ÿ9.'ÿ:*&68)(
)3)5/0)6ÿ(*;6'ÿ'(2)ÿ4*<:)t8)ÿ(*3F
uj5ÿ).<'32*ÿ/<:5/4Eÿ.3)ÿB.'66)ÿ&'
:6'4/*(v
uwE<*ÿ6'(:*3&/Eÿ'5ÿ:x;5/4*ÿ)32'ÿ'5
/346'<'32*v
uj5ÿ4*3(.</&*6ÿ'(ÿ'5ÿ:6/34/:)5ÿ'5'<'32*
&'ÿ>./4/*?ÿ'3ÿ'5ÿ:6*4'(*ÿ&'ÿ4*<:6)v
Z3ÿ'>'<:5*ÿ&'ÿ'k'42/[/&)&ÿ&'ÿ'(2'ÿ2/:*ÿ&'
)44/*3'(ÿ5*ÿ'34*326)<*(ÿ'3ÿ5)ÿ'<:6'()
7::5'?ÿ5)ÿ4.)5ÿ).<'32Eÿ'5ÿ:6'4/*ÿ&'ÿ(.(
:6*&.42*(?ÿ4*3ÿ5)ÿ()5['&)&ÿ&'ÿ9.'ÿ6'&.>*
4*(2*(ÿ&'ÿ&/(26/;.4/E3+ÿj(2'ÿ2/:*ÿ&'
'(26)2'B/)(ÿk.34/*3)ÿ'3ÿ.3ÿ1<;/2*ÿ&*3&'
5)ÿ4)5/&)&ÿ/<:*62)ÿ<1(ÿ9.'ÿ'5ÿ:6'4/*?ÿ)(8
9.'ÿ3*ÿ5)ÿ):5/9.'(?ÿ(/ÿ'(2'ÿ3*ÿ'(ÿ'5ÿ4)(*+
yHÿzMXKVMÿOKSÿVRSORSÿqMNMUPQMS
{)0ÿ.3ÿ)315/(/(ÿ=ÿ4*<:)6)4/E3ÿ&'ÿ2.(
4*(2*(ÿ:)6)ÿ*;2'3'6ÿ<'>*6'(ÿ2)6/k)(ÿ&'
k);6/4)4/E3ÿ=ÿ&/(26/;.4/E3+ÿ|WÿQRSÿVRSORSÿXM
LPNRÿXMÿR}UPÿ~ÿLPOMUWPQMSÿSRN
WNmQMW}QMS€ÿMSÿTRSW}QMÿpKMÿXM}PS
XMSVPUOPUÿKNÿTURXKVORÿTPUPÿQQMqPUÿPQ
TKNORÿXMÿMpKWQW}UWRÿMSTMUPXR+ÿj5ÿ)59./5'6
822!!!"#  "#2$2$#2% %% 2 33239
012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
&'()*+,ÿ./ÿ0,1ÿ2.ÿ31/ÿ('415./ÿ6'/&1/
71(.57*'3./8ÿ
:15ÿ.;.(<31=ÿ<0.2./ÿ.,71,&5'5ÿ1&51
<51>..215ÿ71,ÿ71/&1/ÿ(?/ÿ5'@1,')3./ÿ1
.,ÿ7'/1ÿA0.ÿ70.,&./ÿ71,ÿ0,'ÿ&*.,2'ÿBC/*7'
<0.2./ÿ1<&'5ÿ<15ÿ0,ÿ./<'7*1ÿ.71,D(*71
<'5'ÿ<'6'5ÿ(.,1/ÿ.,ÿ'3A0*3.5ÿE1ÿ*,730/*>.
1<.5'5ÿ&0ÿ,.617*1ÿ2./2.ÿ&0ÿF16'5G8
HI
ÿKLMN
VOQOLOPQ
WPXÿOYWRÿ
SPÿMNRPÿTO
LRU ZR[
\*ÿ<0.2./ÿF'7.5ÿA0.ÿ(?/ÿ71,/0(*215./
71,1@7',ÿ&0ÿ,.617*1=ÿ./&'5?/ÿ0,ÿ<'/1
(?/ÿ7.57'ÿ2.3ÿ<0,&1ÿ2.ÿ.A0*3*)5*18
KLMNOLOPQRÿSPRÿO]QURQOXWRÿTOÿLRUVOQWPX
Z^P_WPZOPQOÿMRURÿRSLOPQRUÿQS]ÿ_OPQR]ÿ̀
RaS]QRUÿNRÿWP_OU]WbPÿMScNWZWQRUWRÿOPÿZRTR
ZRPRN8
d.,ÿ.,ÿ70.,&'ÿA0.=ÿ/*ÿ)*.,ÿ0,ÿ',?3*/*/ÿ2.3
<0,&1ÿ2.ÿ.A0*3*)5*1ÿ<0.2.ÿ/.5ÿe&*3=ÿ,1ÿ./
0,'ÿ7*.,7*'ÿ.f'7&'=ÿ./<.7*'3(.,&.ÿ/*ÿ&0
.(<5./'ÿ>.,2.ÿ0,'ÿ>'5*.2'2ÿ2.
<51207&1/8ÿg,ÿ./&.ÿ7'/1=ÿ./ÿ(.;15ÿ0/'5ÿ0,
71/&1ÿ<51(.2*1ÿ'3ÿ7'3703'5ÿ&0ÿ',?3*/*/ÿ2.3
<0,&1ÿ2.ÿ.A0*3*)5*1ÿ1ÿ71()*,'5ÿ31/
5./03&'21/ÿ71,ÿ1&5'/ÿF.55'(*.,&'/=ÿ71(1
.3ÿ)'3',7.ÿ6.,.5'38
TO]ZRUXRcNO]ÿZUOhRPRÿMRURÿOLMUO]R]
iI
MUÿ^_OOT^U
jOa^URÿNR]
O]ÿZ^PTWZW^PO]ÿTOÿQS]
g,ÿ./&.ÿ<0,&1=ÿ0,1ÿ2.ÿ31/ÿ&*</ÿ<'5'
'37',@'5ÿ.3ÿ<0,&1ÿ2.ÿ.A0*3*)5*1ÿ5'2*7'ÿ.,
71,/.60*5ÿ0,'ÿ5.)';'ÿ.,ÿ70',&1ÿ'ÿ3'/
&'5*B'/ÿ1ÿ0,'ÿ(.;15'ÿ.,ÿ70',&1ÿ'ÿ31/
<3'@1/ÿ2.ÿ.,&5.6'=ÿ<15ÿ<'5&.ÿ2.ÿ&0/
<51>..215./8ÿkl.ÿA0+ÿB15('ÿ<0.2./
71,/.60*5ÿ./&1m
nPRÿLRPOURÿO]ÿLOa^URUÿNR]ÿZ^PTWZW^PO]
TONÿ]OU_WZW^Iÿo]WLW]L^pÿRLMNWrPT^N^
QWOPO]ÿNRÿ^MZWbPÿTOÿRh^UURUÿZ^]QO]
WPTWUOZQ^]ÿ^ÿQWOLM^8ÿ\*,ÿ.()'561=ÿ./&'
./&5'&.6*'ÿ>'ÿ'ÿ2.<.,2.5ÿ2.ÿ3'/
5.3'7*1,./ÿA0.ÿ&.,6'/ÿ71,ÿ3'/ÿ1&5'/
71(<'sC'/ÿA0.ÿ&.ÿ/0(*,*/&5.,ÿ/.5>*7*1/ÿ1
<51207&1/8
tIÿKP_WOUQOÿOPÿuOZSU]^]ÿvSLRP^]
g/&'ÿ./ÿ0,'ÿ65',ÿ*,*7*'&*>'ÿ<'5'ÿ'37',@'5
.3ÿ<0,&1ÿ2.ÿ.A0*3*)5*18ÿw0,A0.ÿ,1ÿ31
>*/30()5./ÿ2.ÿ3'ÿ(*/('ÿB15('=ÿ31/
<517./1/ÿ2.ÿ/.3.77*D,ÿ/1,ÿ*(<15&',&./=
<15ÿ31ÿA0.ÿ*,>.5&*5ÿ.,ÿ<.5/1,'/ÿ4ÿ/.5>*7*1
<'5'ÿ3'ÿ/.3.77*D,ÿ2.ÿ<.5/1,'3ÿ/.5?ÿ31
(.;15ÿA0.ÿ<0.2./ÿF'7.5ÿ.>.,&0'3(.,&.8
xWÿcWOPÿO]ÿQOPQRT^UÿhRZOUÿQyÿLW]L^ÿN^]
MU^ZO]^]ÿTOÿ]ONOZZWbPÿzMRURÿO_WQRUQOÿON
XR]Q^{pÿMSOTOÿQUROUÿMU^cNOLR]ÿR
822!!!"#  "#2$2$#2% %% 2 30239
012342015ÿ3789 ÿ ÿÿ 8ÿ 5ÿÿÿ
&'()*+,ÿ.ÿ/*01,ÿ2/*3,4ÿ678ÿ9:9ÿ;7<=>7?
@A9:<8Bÿ89C7;9@DBC=E@ÿ9:ÿFA9?
9:G9C=BH;9@<9ÿ:=ÿ<=9@9:ÿA@Bÿ;=C87GI;9?
D9J9:ÿ9K<98@BH=LB8ÿ<7DBÿHBÿ:9H9CC=E@ÿI
N9:<=E@ÿD9ÿG98:7@BHO
PBÿN9:<=E@?ÿGB8Bÿ9HÿBQ7887ÿD9ÿH7:ÿC7:<7:4
PBÿ:9H9CC=E@?ÿGB8Bÿ9H9N=8ÿBÿH7:
G87R9:=7@BH9:ÿ;S:ÿCBGBC=<BD7:ÿI
BD9CABD7:ÿGB8Bÿ<Aÿ@9N7C=74
T@BÿBH<Bÿ87<BC=E@ÿ9@ÿA@Bÿ9;G89:BÿBR9C<B?
D9ÿR78;Bÿ=@D=89C<B?ÿHBÿCBH=DBDÿD9H
G87DAC<74ÿUD9;S:?ÿC7;7ÿJ=9@ÿ9>=D9@C=Bÿ9H
&'(),ÿV,0W'X?ÿYZ[\]^Z_àÿZÿ̀_acd_]\
edfZg\ÿg\ÿ]\Z̀fag^aÿa]ÿcZ̀haÿ[Z_Z
fai\_Z_ÿaÿ̀ja]af[ak\ÿac\glfmc\ÿjaÿdgZ
af[_a]Znÿ]mg\ÿ[Z_ZÿfmgmfmoZ_ÿaÿ̀mf[Zc^\
jaÿ̀\]ÿ[a_m\j\]ÿac\glfmcZfag^a
mga]^Zpà]q4
;9r78B8ÿGA@<7ÿD9ÿ9FA=H=J8=7
sA9@<9Oÿ6=@<989:<

t7;7ÿGA9D9:ÿ>98?ÿBGH=CB8ÿHBÿRE8;AHBÿD9H
GA@<7ÿD9ÿ9FA=H=J8=7ÿ9:ÿ;AIÿRSC=H4
u:G98B;7:ÿQBJ98<9ÿBIADBD7ÿBÿC7@7C98
FAvÿ9:ÿ9HÿGA@<7ÿD9ÿ9FA=H=J8=7ÿIÿCE;7
CBHCAHB8H7OÿIBÿ:9BÿFA9ÿ9:<v:ÿC89B@D7ÿA@
G89:AGA9:<7ÿGB8Bÿ<Aÿ@A9>7
9;G89@D=;=9@<7ÿ7ÿ9:<v:ÿCBHCAHB@D7
G87I9CC=7@9:ÿR=@B@C=98B:ÿGB8Bÿ<Aÿ@A9>B
Hw@9BÿD9ÿG87DAC<7:?ÿ'/ÿxy/xz/,ÿ('/ÿ2z+{,ÿ('
'|z)/)W0),ÿ2z'('ÿW0)+(*0{'ÿ/*ÿ)+},0&*x)~+
+'x'X*0)*ÿ2*0*ÿX'0ÿ0'+{*W/'ÿ*ÿ/*01,ÿ2/*3,4
u:<9ÿQBÿ:=D7ÿ@A9:<87ÿG7:<€ÿ=ÿFA=989:ÿ:BJ98
;S:ÿBC98CBÿD9HÿGA@<7ÿD9ÿ9FA=H=J8=7?
=@:C8wJ9<9ÿ9@ÿ@A9:<8B:ÿx*2*x){*x),+'Xÿ('
‚'+{*Xÿ2*0*ÿ'&20'X*X4ÿƒ9ÿ:98S@ÿD9ÿN8B@
A<=H=DBDÿGB8Bÿ;9r78B8ÿ<Aÿ9:<8B<9N=BÿD9
@9N7C=7ÿIÿGB8BÿCBGBC=<B8ÿBÿ<Aÿ9FA=G7ÿD9
<8BJBr7ÿGB8Bÿ;9r78B8ÿHB:ÿC=R8B:ÿD9ÿ<A
9;G89@D=;=9@<74ÿ„K=<7:€

¥¦§¨©¦©

ª¨«¬¦©­®©

†‡ˆ‰Š‹ÿ‰Š‹Žÿ‹‘‰Š’‹Ž
“Ž”‡•‰ –—˜‹™
šŽ›œÿ—ÿž‹ˆ‰ Ÿˆ›”‹ÿˆ‹˜‰Š‹ˆ
›—Š‹¡‘‰ÿ—ÿ¢£›‡‰Ž žŠ‹Ž¤‰Š”‹›œÿ£ˆ£Š‹ˆ

822!!!"#  "#2$2$#2% %% 2 31239

You might also like