_SS$,%7#&$

"(4#8*%&
D@H<E';8A<'D<B8'A8>CF'>8EC9'>@D8E'
H@AD8DC'F@L8G'9CHC8>39CHC8>';89<@D4'
?8;8'>8EC9']'F4B4'AIB8'B@9=<U<9G89'
<FA8@D'B@B@DCG'8=8B8'B@A@G8'>@>8?<'
B@A@G8';<G@98G89'?8L8G'H@A8>4'H8<>'
FCJ<'>CE89'>@D8E';<H89=C9'G@BH8D<'
;89'B@9L8;<'?CF8>'G@HC;8:889'<FA8@D4'
G@H89:8G89'IA89='<FA8@D'FC;8E'DC?8'
9CHC8>'>@>89='B@F<8F':89='8G89'
;8>89=6'>@>8?<'8;8'H@H@A8?8'IA89='
:89='><;8G'DC?8';89'>@>8?'?8>CE'
?8;8'ECGCB'>CE89';89'B@9=E8A8?G89'
G@;8>89=89'B@F<8F':8<>C'GA<F>CF4';<'
89>8A8'IA89=3IA89='<9<'8;8'IA89='
>C8'H@A98B8'F<B@I94';<8'8;8D8E'IA89='
F8D@E':89='<9=<9'B@D<E8>'B@F<8F'
:89=';<9CHC8>G89'?8A8'98H<4'F@D8B8'
H@A>8EC93>8EC9';<8'>@D8E'B@BH8J8'
9CHC8>';89';<8'>8EC'H8EK8'K8G>C'
G@;8>89=89'GA<F>CF'FC;8E';@G8>4'
>@>8?<'F<B@I9'FC;8E'>C8';89'FC;8E'
;@G8>'8GE<A'E<;C?9:84'FC;8E'O6XXX'
>8EC9'F@L8G'>CE89'H@AL89L<'G@?8;8'
E8K8'G@>CAC9899:8'8G89';8>89='
;89'B@=E89JCAG89'G8A:8'F@>894

>%",#&:%$.#8%7$,*1%5$
3(1*7$8%9*$a_S$&#1#%,$
%"%&$.(/(9%$8*/(&%+*5
 !"!#+
()
!"#2'(2.'
,'#%4
1"&'-.#'(
)
1#.*+%*4
/'()35/''
(
]'F4B4

186'>CE89'&HA8E8B6'
$FE8G';89':8GCH6'
8GC'>@D8E'-@9C9==C'
LCACF@D8B8>4'/<;C?GC'
><;8G'8G89'+8B8'D8=<4

'(4%&/$7*8#+4#$
,*8%"$M%4%$3%/*$
,(,%+*$"%4#$%"%&$
'(3*7%,$@#9#.(3%4%,$
:%&/$6#@%&@*"%&$
.(1(3#4$"%4#$4%,*5
 ,<B@I96'G8BC';8>89=' ,<B@I9'
0@'F<9<'F@><8?'E8A<4'&GC' B@9:@D<;<G<'
$9=<9'F@BC8'<B8B'F@><8' G<>8H'>8CA8>'
,@?@A><'G8BC4 ;89'-@9@BCG89'
H89:8G'9CHC8>'
>@9>89='
GA<F>CF4

.8=8<B898'B@9CAC>BC'
-@9=@98<'9CHC8>'>@9>89='
GA<F>CF')8D8B'G<>8H':@F8:8'
<9<a'(CHC8>'$9<'H@AG8>8'H8EK8'
F@IA89='?@A8K89'&G89'E8B<D'
;89'B@D8E<AG89'8G89'+8G<3
D8G<4'$9<'?8F><'H@9<E':89='
)<L89L<G89'G@?8;8'E8K84
.@98A6';89'
:@F8:8'^C=8'H@AG8>8'
H8EK8';<8'&G89'H<F@HC>'
>CE89'?@AG8F84'%@>8?<'
9CHC8>39CHC8>'<9<',CD<>'
;<B@9=@A><4
 -@9CAC>' %<;8G'H89:8G'
9CHC8>' 7A89=':89=',@>CLC'
-<GE8'?C>A8' ;@9=89BC4'^8;<'
>CE89'&;8D8E' L89=89'-@B<J8A8G89'
G@G8D'F8B8' /8D3E8D'<9<';<';@?89'
)@9=89'>CE894' *BCBT'G8BC'8G89'
)89'.8=8<B898' )<A8L8B'F8B?8<'-8><4
;@9=89'(CHC8>'
:89='8;8';8D8B'
0<>8H'B8UBCA'
:8<>C'%CE89'
B@B89==<D'
5C>A89:86'
>CE894
08BC'8G89'B@D<E8>4'
-@F<8F'8G89';8>89='G@'H8<>'
$9<6';89'8GC'8G89'B@D<E8>'
)<86'F@H@DCB'8GC'B8><4
)<8'BC9=G<9
.@98A4

,<8?8'G8BCa
&?8':89='G8BC
%8EC'>@9>89=
/8D3E8D'<9<a
 &GC'B@9;@9=8A'
5@AJ8G8?89'G8BC'>89?8'
,@9=8L84'&GC'LC=8'>@D8E'
-@9:@D<;<G<'9CHC8>3(CHC8>6';89'
E8B?<A'RXX'%8EC9':89='D8DC')89<@D'
-@9CHC8>G89'H@H@A8?8'/8D':89='
F89=8>'B@98A<G'%@9>89='K8G>C'
0@;8>89=89'B@F<8F4

G@L8;<89'VPNRT'
B8UBCA'ORP]T'
:@F8:8'_PNO6'WP]T' &?8':89='G8BC
)89<@D'WPQR3Q]T' %8EC':89='><;8G
B<GE8'RPQT )<G@>8EC<'8ED<
+CG8F'QPQR3Q] %8CA8>a
 &:8EGC'8;8D8E'8ED<'>8CA8>';89'
;<8'%@D8E'B@9C9LCGG89'9CHC8>3
9CHC8>'<>C'0@?8;8GC4'%CE89'H@AG8>8'
G@?8;8')89<@D'H8EK8'^89=G8'K8G>C'
;8A<'F88>'?@A<9>8E'B@BH89=C9'
0@BH8D<':@ACF8D@B';<H@A<G89'F8B?8<'
-@F<8F';<F8D<HG89'8;8D8E'OSV'>8EC94

,@G8A89='>@D8E'OOW'
%8EC9'H@AD8DC'F@L8G'
5@A<9>8E'<>C';<H@A<G894'
/89:8'VO'>8EC9'D8=<6'<>C'
.@A8A><'8;8'G@BC9=G<989'
-@F<8F'FC;8E';8>89=4

%<;8G6'
H@DCB4'
#IE'0C;CF'
B@9:8>8G89'
0@?8;8'F8:8'H8EK8'
,@H@DCB'8GC'B8><'
8GC'&G89'B@D<E8>'
.8=8<B898'
H8:<'-@F<8F';<'
G8BC'H<F8'>8EC'
H8<>'<9< E8D3E8D'F@?@A><'
<>Ca

08BC'8G89'
-@D<E8>4
,@B@9>8A8'F<B@I9'
-@9C9C9==C'
;<'.8<>'>CE896'
-@9=E8A8?G89'
0@;8>89=89'
GA<F>CF'189='
;<L89L<G896')89'
CBCA9:8',@B8G<9'
>C86'8;8',@IA89='
<B8B'.@A98B8'
U8GE8A<8'-8FCG'G@'
H8<>'>CE89'*9>CG'
H@A;I84')<8')89'
<F>A<9:8'FC;8E'
%C86'>@>8?<'B@A@G8'
.@DCB'?@A98E'
5C9:8'898G4
 %<H83><H8'8;8'-8D8<G8>'
;<'F@H@D8E'08989'8D>8Ab

^89=89'>8GC>4')I8'
08BC'>@D8E';<;@9=8A6'
)89'<F>A<BC6'@D<F8H@>6'
&G89'B@D8E<AG89'898G'
+8G<3D8G<6';89'G8BC'
&G89'B@98B8<';<8'
1IE89@F4

.89:8G':89='8G89'
.@AFCG8J<>8'G@><G8';<8'D8E<A6'
08A@98';<8'8;8D8E'IA89=':89='
&G89'B@9:<8?G89'IA89=3IA89='
*9>CG'G@;8>89=89'B@F<8F4')<8'
%<;8G'8G89'B<9CB'89==CA'8>8C'
-<9CB89'G@A8F';89';<8'8G89'
-@9@A<B8'AIE';89'GC8F8'
@D<84
 .8=8<B898'F8:8'H<F8'
>8EC'.8EK8'8?8':89='G8C'
G8>8G898'$>C'H@98Aa'&GC'
;89'<F>A<GC'%@AD8DC'>C8'
C9>CG'B@D8E<AG89'&98G6'
;89';<8'B89CD',@?89L89='
E<;C?9:84

&GC'28HA<@D6':89='
%<9==8D';<'E8;<A8>'>CE896'
)89'8GC';<C>CF'C9>CG'
-@BH@A<>8ECBC'E8D3E8D'<9<4'
&?8G8E'G8BC'B8C'>89;8a'08BC'
&G89'H<FC'F8B?8<'E8D3E8D'
$9<'>@AL8;<4
 &GC'
8G89',@989='
G@><G8'G<>8'.<F8'
B@BH<J8A8G89'/8D'
<9<4'#CB8E'<9<'.@=<>C'
FC9:<',@E8ACF9:8'
G8BC'%<;8G'
H@AH89>8E'0@?8;8'
B8D8<G8>4

f8GE8A<86'E8D'<9<'
B8F<E'FCD<>')<?@AJ8:84'
,8B8'F@?@A><'F8A8E6'<HC'
.89=F8'G<>86'>CE89'B@9;@9=8A'
;I83;I8'0<>86';89'F@G8A89='
8GC'8G89'B@9L8;<'$HC'
F@IA89='98H<'H@F8A4
 ,@D8B8'O6XXX'>8EC96'?8A8'98H<'
-@9CHC8>G89'G@;8>89=89'B@F<8F4'
_XX'>8EC9'F@H@DCB'B8A<8'E8B<D6'
(8H<':@F8:8'H@A9CHC8>P'YD<E8>D8E6'
,@IA89='?@A8K89'8G89'-@9=89;C9='
;89'B@D8E<AG89'&98G'D8G<3D8G<6'
:89='8G89')<F@HC>'<B89C@D6':89='
8A><9:8'%CE89'H@F@A>8'G<>84Z

-8A<8'H@A>C989=894')<8'8G89'
B@9<G8E')@9=89':CFCM4')<8'><;8G'
?@A98E'.@AECHC9=89'FC8B<3
<F>A<';@9=89',<8?8?C94')<8'>88>'
?8;8'F@BC8'ECGCB'BCF84
 %<H83><H86'B8D8<G8>'
-@98B?8GG89';<A<'0@?8;8'B8A<8b

-8A<86'G8BC'
%@D8E'H@AID@E'
89C=@A8E')8D8B'
?89;89=89'
>CE894'08BC'8G89'
B@9=89;C9=')89'
B@D8E<AG89' .8=8<B898'
5C>A8'>CE89 BC9=G<9'/8D'
<>C'>@AL8;<'
08A@98'&GC'
><;8G'?@A98E'
8;8'/CHC9=89'
;@9=89'D8G<3
+8G<'F<8?8?C9a

#IE'>CE89'8G89'
B@98C9=<'08BC4'^89<9'GC;CF'
:89='8G89')<G89;C9='8;8D8E'
?C>A8'>CE894',@?C?C'G8BC6'
@D<F8H@>6':89=')<F@HC>'B89;CD'<>C6'
F@G8A89='-@9=89;C9='LC=84'$9<'
HCD89'0@@98B'G89;C9=89'
;<84
$F8<8E'_PNOT'+CG@'NPR3QX6'Q]3OX

&GC'
E8BH8'%CE89'
>@AL8;<D8E'
0@?8;8GC'
B@9CAC>'
0@E@9;8G9:84

&GC'8G89'
B@9L8;<'<HC'5C>A8'
>CE894'&?8G8E':CFCM'
?@AJ8:8'58;8CGa'&?8G8E'
;<8'H<F8'B@9=@A><a'&?8'
?<G<A89'F@BC8'IA89='G@><G8'
-@A@G8'>8EC'8GC'E8B<Da'&GC'
>8EC'8?8'189='E8ACF'8GC'
D8GCG894'&GC'&G89'?@A=<'
;89'><9==8D')@9=89'
@D<F8H@>4
 O3*.%1(,J

'%9*%<
0%:%&/J
 .@AH8E89=<8D8E' ^<K8GC'
"9=G8C';<'89>8A8' B@B89='
K89<>83c89<>86' -@BCD<8G89'
;89'>@A?CL<D8E' >CE896')89'
HC8E'#8E<BBC4',<8?8' AIEGC'>@D8E'
8GC'<9<',@E<9==8' .@A=@BH<A8'
<HC'>CE89GC';8>89=' 08A@98'%CE896'
-@9=C9LC9=<GCa' LCACF@D8B8>GC4'
08A@98'.@=<>C'8GC' ,@>@D8E'<9<6'F@BC8'
2@9@A8F<'8G89'
B@9;@9=8A',C8A8BC6'
-@9:@HC>GC'
L89<9GC'B@DI9L8G' ;<H@AG8><6'08A@98'
)8D8B'G89;C9=89' >CE89'>@D8E'
08A@98'2@BH<A84 -@D8GCG89'E8D3
E8D'&=C9=4
)<8'>@D8E'
B@9=89=G8>'0<>8'IA89=3
IA89='H<8F84',@?@A><')<8'>@D8E' B8A<8'><9==8D'
H@AH<J8A8'G@?8;8'H8?8'&HA8E8B6'
;<8'>@D8E'B@9=<9=8>'0<>8';8D8B' H@AF8B8'@D<F8H@>'
A8EB8>9:84 G<A83G<A8'><=8'HCD894
 %<H8D8E' f8G8A<8'
K8G>C9:8' FC;8E'58F><'H8EK8'
"D<F8H@>' 898G9:8'189='8G89'
D8E<A'8;8D8E'+8G<3
B@D8E<AG894
D8G<4')<8'B@BH@A>8EC'
.8EK8'B8D8<G8>'
.@AG8>8'H@=<>C4

(8E6'
L<G8'<>C'
+8G<3D8G<'8GC'
G<A8'(8B89:8'
8G89'f8G8A<8'
,8B8';@9=89'
&:8E9:84
)<8'F@;89=
0@'F<9<4'-8A<'
0<>8'H@A>89:8
0@?8;89:84
 )<8'
B@BH@A<>8EC'
.8EK8'
B8D8<G8>'>@D8E'
-@BHC8>9:8'H<FC'
08A@98'><;8G'
5@AJ8:84

&G89'G8BC'
H@A<'(8B8'F<8?8'
898GBCa
)<8'
?@ADC
&D8>'
>CD<F4
 )<8'B@9CD<F'
:IE89@F6',@?@A><'
;<?@A<9>8EG89'
-8D8<G8>4
%@>8?<'><;8G
&;8'IA89=';8D8B
0@DC8A=89:8
189='H@A98B8
1IE89@F4
 .@98A3H@98A'
&98G'D8G<3D8G<'
:89='.@A8BHC>'
H89:8G4
 (8B89:8'8;8D8E'
1IE89@F6'F@FC8<';@9=89'
0@E@9;8G'>CE894'1IE89@F'
&G89'B@B?@AG@98DG89'
-@F<8F'G@?8;8'CB8>'0<>86'
$FA8@D4

K%7<$8*%$
A*.%$1(91*)%9%$
M%/*J$0(3%4%$
A(91#3%&L1#3%&<$
;*%$,*8%"$1*.%$
A(91*)%9%J

-C9=G<9G8E'
<9<'-@B89='
@D<8':89='
)<9CHC8>G89a

+CG8F'NPON3]O
0@BC;<89':CFCM'-@9:8;8A<'
H8EK8'-8A<8'E8B<D6';89'
;<8'%8EC'H8EK8'H8:<'
<>C'.CG89'H8:<';<84

$HC6'B8F<E''
,CD<>'H8=<GC'5@AJ8:8'
H8EK8';<8'/8B<D4'%<;8G'
8;8'D8G<3'+8G<'F@D8<9'8GC'
:89=')@G8>';@9=89';<84')<8'
F@D8DC';@9=89'0@DC8A=89:8'
H8EG89',@><8?'B@9<>4'&GC'
%<;8G'B@D8GCG899:8b'%@>8?<'
9:8>899:8')<8'E8B<D4'
 7E6'
:CFCM6'
8?8'189='
8G89'G8BC'
+8GCG89a

&GC'><;8G'8G89'B@9<G8E'
)@9=89';<86'>8?<'8GC'><;8G'
$9=<9'E8D'<9<';<G@>8EC<'H89:8G'
7A89='F@E<9==8';<8';<A8L8B'
08A@98'?@AU<98E894'-C9=G<9'0<>8'
H<F8'B@BC>CFG89'5@A>C989=89'
;<8B3;<8B4
 -@9CAC>
)<8'F<8?8
&:8E9:8a

)<8'H@AG8>8'
H8EK8'&:8E'
898G'<>C'>CE896'
)<>@B?8>G89';<';8D8B'
089;C9=899:8'ID@E'
#IE'GC;CF'>89?8'8;8'
/CHC9=89'H8;894
 K%7J$
!+%"%7
;*%$.#8%7$
/*3%=

)<8'H@AG8>8'
&98G9:8'
8G89'-@9L8;<'
^CACF@D8B8>
)C9<86'?C>A8 $>CD8E'ECL8>89
%CE894 0@><G8'K89<>8'
H@AG8>8'.@=<>C4'&GC'
E8ACF'H@?8>
-@9:@BHC9:<G89';<84
 -8D8B'<>C'G@><G8':CFCM'
F@;89='%<;CA6'B8D8<G8>'
B@98B?8GG89')<A<'
;8D8B'B<B?<9:84

1CFCM6'G@>CAC989'
)8C;6'L89=89'>8GC>'
-@9=8BH<D'B8A<8'F@H8=8<'
$F>A<BC6'08A@98'898G':89=';<'
)8D8B'G89;C9=899:8';8A<'AIE'
%CE894'-8A<8'8G89'B@D8E<AG89'
,@IA89='?C>A8';89'G8BC'8G89'
-@98B8G89';<8':@FCF6'08A@98'
)<8'8G89'B@9:@D8B8>G89
*B8>9:8';8A<';IF8
-@A@G84
 $9<'8;8D8E'
5@9==@98?89'9CHC8>'
1@F8:8P'YD<E8>D8E6
,@IA89='?@A8K89'8G89
-@9=89;C9=';89'8G89
-@D8E<AG89'F@IA89=
5C>A86';89'B@A@G8'8G89
-@9:@HC>';<8P'<B89C@DZ6
189='H@A8A><P'Y>CE89
.@F@A>8'G<>84Z
 -8A<86'
.8=8<B898'G8BC'
.<F8'B@B88MG89'
&GC'08A@98'8GC'
-@A8=CG89'
5@AG8>889BCa

,8:8'>8EC'E8D'<9<'
+C8A'H<8F8';89'FCD<>'
)<?@AJ8:8b',@G8A89='>CE89'
-@B<D<EGC'C9>CG'B@BH8K8'
-@F<8F'G@';C9<8';8A<'
F@BC8'c89<>8'$FA8@D';89'
;8A<',@=8D8'U8B89b
 &G89'F@?@A><'8?8
.8:<'<9<a',@H8H';<8 7E6':CFCM6'8GC'
%CE89':89='D8E<A'F@H8=8< %<;8G'>8EC6'>8?<'
-89CF<86'8?8G8E';<8'H<F8 %CE89'>8EC4'0<>8'E89:8'
.@AH<J8A8';89'B@BH8J8 .<F8'B@9C9==C';89'
.@=<>C';<8'D8E<Aa -@D<E8>4
 G@L8;<89'VPNRT'
08B<'H@A;C8' :@F8:8'_PNO6'WP_T'
;8A<'0@>CAC989' -8><CF'NPNS3QVT'
;8C;6';89'?8A8' +CG8F'NPVQ3VV
(8H<'B@B89='
H@A9CHC8>'.8EK8'
B@F<8F'8G89'
;8>89='-@D8DC<'
G@>CAC989'
;8C94

&GC'H8AC'B@B<G<AG89'E8D':89='D8<94'
)<'>8B89'@;@96'>CE89'H@AL89L<'H8EK8'H@9<E'5@A@B?C89'
8G89'B@A@BCGG89'G@?8D8'G@>CAC989'*D8A4'&GC'B@9=@A><'
F@G8A89=b'&98G'<9<'><;8G')8A<'H@9<E'D8G<3D8G<6'>@>8?<'
H@9<E'?@A@B?C894'c8Eb'5@A<F><K8'<9<'>@D8E';<A@9J898G89'
%CE89'F@L8G'8K8D4
 1CFCM';89'B8A<8'
><9==8D';<'98U8A@>'
;<'28D<D@86'>8?<'
8;8'9CHC8>'D8B8'
:89='-@9L@D8FG89'
)@9=8AD8E'
H8EK8'B@F<8F'8G89'
G8D<89'F@BC86
;<D8E<AG89'
08A@98'?@A9:8>889'A@FB<'
)<'H@>D@E@B';<'
;8A<'0@G8<F8A89'AIB8':89='
:C;@84'-@A@G8'
;<>89;8>89=89<
><;8G'>8EC'%@9>89='
7D@E'G8<F8A'F@9;<A<'C9>CG'
9CHC8>'<>C6';89'
F@9FCF'5@9;C;CG'B8G8'
><;8G'8;8'8D8F89'
F@BC8'IA89='$FA8@D'/8ACF'
*9>CG'B@D8GCG89'
G@BH8D<'G@'GI>8'G@D8E<A89'
?@AL8D8989'L8CE'
-8F<9=3B8F<9='C9>CG'
G@'H@>D@E@B4
;<;8M>8AG89'(8B89:8'
C9>CG'>CLC89'
?@A?8L8G894
 1CFCM6'
<>C'.@A8A><'
G8BC'E8ACF'5@A=<'
G@'H@>D@E@B4'
^8;<'8GC'8G89'
-@D8E<AG89'G@><G8'
08BC'B8F<E'8;8'
)<'H@>D@E@B4

7A89=3
IA89='><;8G'&G89'
B@9=@A><'B@9=8?8'&GC'
B@9<9==8DG89'<F>A<'
189='F@;89='E8B<D'>C84'
&GC'8G89'B@BH8K8BC'
.@AF8B8GC4
 -8A<86'
-C9=G<9'><;8G'
.8<G'8GC'B@BH8K8'
08BC';8D8B'
5@AL8D8989'<9<4'
&?8G8E'D@H<E'H8<G'
0<>8'?CD89='
,8L8a

%<;8G6'8GC'E8ACF
.@AF8B8BC'G@><G8'H8:<'0<>8'
D8E<A4'7A89=3IA89='+8<9'
><;8G'8G89'H<F8'-@9=@A><4
 0<>8'
E8ACF'!@?8>3 5@ADC'K8G>C'D@H<E'
J@?8>'^<G8' ;8A<',@B<9==C'
G8BC'H<F84'&GC' C9>CG'B@D8GCG89'
A8F8'E8B?<A' 5@AL8D8989'<>C6'
c8G>CGC' E8B?<A'N]X'GB4
-@D8E<AG894

&GC'8G89'JIH8
-@9;8?8>G89
08B8A';<
5@9=<98?894
 -8A<86'
8GC',C;8E' &?8G8E
B@9@BCG89' &;8'G8B8A';<
.<;89' 5@9=<98?89a
:89='8G89'
-@9IDI9='
G<>84

%<;8G6'
FC;8E
5@9CE4
 08C'H@AHC8>' ^89=89'
.8<G'C9>CG'898G' J@B8F'08A@98'
5@A>8B8BC4' E8D'<>C4')<8'&G89'
,8:89=6')<8'E8ACF' B@B@A<9>8E'
D8E<A')<'G8;89=4 )C9<8'FC8>C'
E8A<'(89><4

.8=<GC6';<8
,@?@A><'H8:<
B<GE8'RPQ6'+CG8F'QPN3_ 189='D8<9b
&?8'<9<a

K%7<
'%3%*"%,J
#<HC89
-8D8<G8>b
^89=89'>8GC>6' 0@BCD<889'
08A@98'>CE89'>@D8E' :89='
-@9=C>CF'8GC'C9>CG' -8E8><9==<'
-@BH@A<>8ECBC'G8H8A' C9>CG'
.8<G'C9>CG'F@BC8' >CE89b%CE89'
IA89=4',C;8E'D8E<A' B@BH8K8'
;@B<'G8BC'/8A<'<9<';<' ;8B8<'G@'
GI>8';8C;',@IA89=' .CB<6'08A@98'
LCACF@D8B8>6'18<>C' ;<8'?C9:8'
B@F<8F4 0@E@9;8G'H8<G'
>@AE8;8?'
-89CF<84
 $9<'8G89'B@9L8;<'
%89;8'C9>CGBC6'G8BC'
&G89'B@9@BCG89'
H8:<'189=';<HC9=GCF'
;@9=89'08<96';89';<8'
8G89'.@AH8A<9=';<'
?8DC9=894
 5@AJ8:8G8E'
G8BCa-8D8<G8>3 &?8G8E'G8BC'
B8D8<G8>'-@98B?8GG89' -@9;@9=8A':89='
;<A<'0@?8;8'G<>8b )<G8>8G89'B8D8<G8>'
$>Ca'-@F<8F'FC;8E'
$F>@A><GC +8E<A';<'$FA8@Db
58F><'><;8G
5@AJ8:8b

&GC'<9=<9
5@A=<';89
-@D<E8>4
0(29%&/$
F#9#.(3%4%,J$;%4%*$#&,#"$
'%&#.*%J$0(29%&/$A%:*=$
'%9*$"*,%$M*7%,$8*%J
 c8E6'
B@F<8Fb

-88M6
-@9==89==C4
,@IA89=
-8D8<G8> ,<8?8'F89=G86
-@BH@A<'>8EC %CE89'B@9L8;<
08B<'C9>CG .8:<a
)8>89=4 +CG8F'QPS3QX
 ,C;8E'K8G>C9:8'B8A<8'
;89'1CFCM'E8ACF'?@A=<'
G@'H8<>'FCJ<')@9=89'H8:<'
:@FCF'C9>CG'-@9C9LCGG89'
898G9:8':89='.8AC'
D8E<A'G@?8;8'<B8B';89'
*9>CG'B@B?@AF@BH8EG89'
GCAH89',@FC8<';@9=89'
ECGCB'BCF84

1CFCM6'<9<'?@A>8B8
08D<'H8:<'G<>8';<H8K8
0@'H8<>'FCJ<6';89'><;8G )89'8GC'?<G<A'G<>8'
,@IA89=?C9';<'F<>C ,@E8ACF9:8'><;8G'
189='>8EC'H8EK8':@FCF -@BH@A<>8EC'F<8?8?C94'
&;8D8E'GA<F>CF6 -8A<'G<>8'>C9==C',8B?8<'
18<>C'B@F<8F4 ;<8'H@F8A'(89><4
,<B@I9'8;8';< *,#$8*%J$
.8<>'FCJ<4 6%4*$,(3%7$
4(&#&//#$
1(/*,#$3%4%5

,<8?8'
;<86
-8A<8a &GC'><;8G'
>8EC4'%<;8G'
F@IA89=?C9'
-@9=@98D'G<>8'
)<'F<9<4
 %@A?CL<D8E'@9=G8C6'
76':8EK@6'>CE89'G8B<4',@G8A89='&GC'
H<F8'B8><';8D8B';8B8<6'08A@98'&GC'
>@D8E'B@D<E8>'F89='?@9:@D8B8>'189=' %@>8?<6
;<L89L<G894')<8'8G89'B@9L8;<'0@BCD<889' .8=8<B898
$FA8@D';89'>@A89='*9>CG'H89=F83 08BC'>8ECa
H89=F8'D8<94
 )@9=8AD8E'
&GC'>@9>89='
898G'$9<4')<8'8G89'
-@9:@H8HG89'H89:8G'
7A89='$FA8@D'L8>CE'
)89'H89:8G'LC=8'189='
H89=G<>';89')<8'8G89'
;<>ID8G'.89:8G'
IA89=4
)89'E8><BC'
&G89'E89JCA'
G@><G8'-@D<E8>'8?8'
:89='%@AL8;<'?8;8'
)<A<9:84
 M*7%,J$E,#$
4(.*%.J$
;*%$,(3%7$8%,%&/$"($
A%*,&:%5$?(&,%&/$8*%$
+%9%$G%1*$.#8%7$
1(9&#1#%,5

$>CD8E'89984'
)<8'>@D8E'B@9C9==C'
-@F<8F'F@?89L89='
/<;C?9:84
 &98G'BC;86'H8:<'<9<'
&;8D8E'GA<F>CF6'LCAC'
,@D8B8>';C9<84')<8'&G89'
B@9:@D8B8>G89'$FA8@D';8A<'
;IF83;IF8'-@A@G84

,@L8G'K8G>C'<>C6'8998'.@AH<J8A8'
>@9>89=';<8'0@?8;8'F@BC8'
:89='-@9J8A<'?@9@HCF894
+CG@'QPQ_3VS
 )<'9@=8A839@=8A8'
;<',@H@D8E'><BCA'
$FA8@D'&;8'IA89=3
IA89='H<L8G4'-@A@G8'
B@B?@D8L8A<'%CD<F893
>CD<F89'GC9I')89'
B@9J8A<'>8EC'%@9>89='
>CE894'-@A@G8'%8EC'
9CHC8>'B@9=@98<'
-@F<8F':89='8G89'
)8>89=4'-@D8DC<'B<B?<'
)89'?@9=D<E8>89'
:89=')<K8E:CG89' 0<>8'>@D8E'
>CE89'0@?8;8'B@A@G86' H@?@A=<89
>CE89'-@BH@A<>8EC' ^8CE4'0<>8'F@;89=
B@A@G8'.8EK8'B@F<8F' -@9;8>89=<'9@=@A<' .<9>89=
FC;8E'+8E<A4'0@BC;<89' :89='&9@E4'0<>8' $>C'>@ACF'
B@A@G8'-@D<E8>' >@D8E'B@D8GCG89 .@A=@A8G4'
H<9>89=':89='%<;8G' 5@AL8D8989' 08B<'8G89'
D8U<B':89='-@9C9LCG' -@9=<GC><9:8
G@'9@=@A<'$FA8@D4 H@AB<9==C3
B<9==C4 %@ACF4
 #8L8'E@AI;@F6'8;8' %<;8G'8;8'A8L8'
%<=8'IA89='G8:8';8A<'%<BCA' ;<'$FA8@D'?8;8'
:89='FC;8E';8>89=4'-@A@G8' K8G>C'<>C'
F@;89='B@9J8A<'#8L8'H8AC' 08A@98'AIB8'
$FA8@D6',@IA89='H8:<4 B@B@A<9>8E'
$FA8@D4'5@9=C8F8'
189=';<>C9LCG'
AIB8'8>8F'
H89=F8'$FA8@D6'
18<>C'E@AI;@F6'
B@B@A<9>8E'
;<':@ACF8D@B4'
7A89=3IA89='
H<L8G';8A<'><BCA'
,@IA89='H8:<a',@IA89=' <>C'H@A>89:8'
#8L8a'&GC'8;8D8E'A8L8'9@=@A<' 0@?8;8'E@AI;@F'
$9<4'.8K8'B@A@G8'G@'F<9<';89' >@9>89='A8L8'
H8K8'^C=8'G@'F<9<'<B8B3<B8B' :89='H8AC'D8E<A4
G@?8D8')89'8ED<'>8CA8>4
 08D<89'
B@9J8A<'
,@IA89=' 08B<'
A8L8'189=' >@D8E'-@D<E8>'
H8AC'D8E<Aa' .<9>89=9:8';<'
.8=8<B898' %<BCA';89'G8B<'
G8D<89'%8EC'E8D' )8>89='C9>CG'
<>Ca -@9:@BH8E'
;<84

)<'
B898
)<8a
08B<'
%<;8G'>8EC'
%@B?8>9:84'
$>CD8E'
F@H8H9:8'
08B<';8>89='
0@?8;8'
A8L84

&GC'>@D8E'B@B89==<D'
58A8'J@9;@G<8K894'0<>8'8G89'
%8EC'8?8':89='B@A@G8'G@>8EC<'
%@9>89='E8D'<9<4'-8A<'<GC>'
&GC'G@'G8B8AGC4
 -@A@G8'
H@AG8>8'
.8EK8'B@A@G8'
;8>89='*9>CG'
B@9:@BH8E'A8L8' 186'
$FA8@D6'7A89=' H89:8G'(8H<'
:89=';<9CHC8>G89' B@9J@A<>8G89'
;8>89='*9>CG' 0@;8>89=899:86'
B@9:@D8B8>G89' >@>8?<'08B<'><;8G'
B89CF<84'&?8G8E' ?@AJ8:8'.8EK8'
8;8'>CD<F89':89='
-@9=8>8G89'
9CHC8>'<>C'E8ACF'
F@FC8>C'>@9>89=' )<?8E8B<'F@J8A8'
,@IA89= /8AM<8E4
A8L8a

&GC'><;8G' (8H<'B<GE8'
?@;CD<'58;8' H@A9CHC8>'
?@9;8?8>' .8EK8'B@F<8F'
08D<894' 8G89'D8E<A')<'
!@A<>8G89' H@>D@E@B';8A<'
0@?8;8GC'?@AF<F' FCGC'1@EC;84
8?8'189='
;<9CHC8>G89a
-8>>E@K'QPN3ST'-<J8E'RPQ

&GC'F@9;<A<'LC=8'
$9=<9'B@9:@BH8E'
A8L8'$>C4'^8;<6'G@><G8'
G8BC'-@9@BCG899:8'
>IDI9='.@A<'>8EC'
8GC'>@B?8>9:84

%@9>C'F8L84
,@=@A8
,@>@D8E'G8B<
-@9@BCG899:8
08B<'8G89
-@BH@A<'>8EC4

/@AI;@F'>8GC>'G@><G8';<8'
B@9;@9=8A'%@9>89='G@D8E<A89'
F@IA89='A8L86'L8;<')<8'
B@A@9J898G89'C9>CG'B@BHC9CE'
&98G'<>C'G@><G8';<8'B@9@BCG899:84
 +C8A'
H<8F8b'58A8'
!@9;@G<8K89'
>8EC'?@AF<F'
)<'B898'A8L8'
><C'8G89'+8E<A6'
>@>8?<'B@A@G8'
&JCE'>8G'8JCE'
>@AE8;8?'(8H<'
B@A@G84
%CD<F893>CD<F89'
58A8'98H<'$FA8@D'><;8G'
,@?@A><':89='D8<94'&GC'
.@DCB'?@A98E'B@BH8J8
(CHC8>'>@A<9J<',@?@A><'
<>C4
 M*7%,3%7J
A*&,%&/$:%&/$
0%4%$:%&/$
6*,%$3*7%,$8*
?*4#9J

.<9>89='
<9<'><;8G'
,@?@A><'
H<9>89=':89='
5@A98E'G<>8'
D<E8>4'.<9>89='
$9<'=@A8G899:8'
><;8G'F8B8' %89;8<
)@9=89'H<9>89=' %@B?8>9:86
D8<96';89'^8CE' )89'H@FIG'G<>8
D@H<E'>@A89=' &G89'B@9=<GC><
;8A<'.<9>89=' .<9>89='<>C
:89='D8<94 +8=<4
 $>C';<86'H@A8;8'
)<'8>8F'ACB8E'
<>C4'%8?<'$9<'HCG89'
H@>D@E@Bb'.@H@A8?8'
.CD89'FC;8E'H@AD8DC4'
-C9=G<9'-@A@G8'
>@D8E'?<9;8E4

0<>8'>@D8E' -@B89='
-@9@B?CE' H<9>89='$>C'89@E4'
5@AL8D8989'L8CE6' 0@D<E8>89',@?@A><'
)89'F@G8A89='G<>8' H@A8;8';<'.8K8E'
/8B?<A'F8B?8<4 8K894
 08B<'><;8G'
B8C'-@9==89==C' ;?@?AB?C?
G8D<896'%@>8?<' &?BD%E?FD>
FC;8E'G8B<',C;8E'
B@9@B?CE'5@AL8D8989'
H@AB<9==C3-<9==C'
C9>CG'H@A>@BC')89'
B@9:@BH8E'A8L8'
189='H8AC'D8E<A4

08B<'B@BH8J8'>CD<F89'58A8'
98H<';8A<'F@BC8'H89=F84'(8H<BC'
B@9CHC8>G89'G@;8>89=899:86')89'
G@BC;<89'F@HC8E'H<9>89='BC9JCD'*9>CG'
B@BH<BH<9='G8B<'G@'F<9<4'.<9>89='<>C'
F@G8A89='8;8';<'&>8F'ACB8E'<9<4
 )@9=89' -8D8B'<>C6'>CE89'
G@A@9;8E89' H@AH<J8A8'G@?8;8'
/8><'G8B<'B@BH@A<G89' 7A89=3IA89='H<L8G'
/8;<8E'G@J<D'<9<' <>C';8D8B'B<B?<'
C9>CG'-@9=EIAB8><' )89'H@AG8>8'G@?8;8'
LCACF@D8B8>')C9<84' B@A@G8'C9>CG'
)<8'8G89'B@:8G<9G89' %<;8G'B@BH@A<>8EC'
E@AI;@F';<'B898'
.89:8G'IA89=' -@A@G8'B@9@BCG89'
C9>CG'.@AH8D<G';8A<' 898G'<>C6';89'
G@L8E8>89'0@' -@B8G8<'L8D89'
G@H@98A894 :89='D8<9'C9>CG'
0@BH8D<'G@'9@=8A8'
B@A@G84'%CE89'
^C=8'H@AH<J8A8'
G@?8;8':CFCM'
;89'-@9:CAE9:8'
C9>CG'B@D8A<G89'
;<A<'0@'B@F<A6'
08A@98'E@AI;@F'
8G89'.@ACF8E8'
-8><CF'QPW3NQ B@BHC9CE'898G9:84
 7A89=3IA89=
)8A<'><BCA'B@9<?CGC
-@A@G8'B@B8G8<'L8D89'D8<9
*9>CG'?CD89=4'$>C'H@A8A><
&98G':89='B@A@G8'J8A<
,C;8E'B@A@G8'>@BCG896
%@>8?<'G@><G8'B@A@G8
5CD89=6'B@A@G8'>8GC>
+@K8>'F<9<4

G<A<BG89'
?8FCG89'GECFCFGC'G@'
H@>D@E@B4'FCACE'B@A@G8'
B@BHC9CE'F@><8?'898G'D8G<3
D8G<';<'H8K8E';C8'>8EC94
 H@A>8EC93>8EC9'
F@H@DCB9:86'
?8A8'98H<'>@D8E'
B@9CHC8>G89'E8D'
<9<6'?@A<F><K8':89='
F89=8>'B@9:@;<EG896'
:89='8G89'>@AL8;<'
;<'H@>D@E@B4
 :CFCM';89'B8A<8'B@BH8K8':@FCF'G@'
B@F<A4'E8;<8E3E8;<8E';8A<'IA89=3
IA89='H<L8G'<>C'B@BC9=G<9G89'B@A@G8'
C9>CG'B@D8GCG89'?@A8L8D8989';89'
E<;C?';<'F898'F@D8B8';C8'>8EC94

,@>@D8E'E@AI;@F'B@9<9==8D6'%CE89'
B@B@A<9>8EG89':CFCM'*9>CG'G@BH8D<'G@'
$FA8@D4'$9<'^C=8'?@9==@98?89'9CHC8>'&DG<>8HP'
YGC?89==<D'898GGC'0@DC8A';8A<'B@F<A4Z
 0@><G8'B@A@G8' $9<'LC=8'
G@BH8D<')8A<'B@F<A6' 5@9==@98?89'
B8D8<G8>'-@9:CACE' 9CHC8>'.8EK8'
:CFCM'C9>CG' :@FCF'8G89'
5<9;8E'G@'GI>8' )<F@HC>'IA89='
G@J<D6'(8U8A@>4 98U8A@>4

8?8G8E'G8D<89' 1@FCF'H@G@AL8'
8G89'H@G@AL8' )@9=89':CFCM'
F@?89L89='E8A<a' ,@H8=8<'>CG89='
H@A<F><A8E8D8E';89' 08:C4'%CHCE';89'
B8G894 #IE9:8'>CBHCE'
;89')<8'B@9L8;<'
,89=8>'H@AE<GB8>4
:@A@B<8E'VNPNRT'/IF@8'NNPNT'-8><CF'QPNV3QV
 0@><G8':@FCF'.@ACBCA'
;C8'.@D8F'>8EC96'1CFCM'
B@BH8K8'0@DC8A=89:8'G@'
1@ACF8D@B'C9>CG'-@A8:8G89'
58FG8E4'-@A@G8'-@BH8K8'
;IBH8',@H8=8<'GCAH89'
&>8F';IF83;IF8'-@A@G84

:@FCF6'>IDI9='
89>8AG89'898G';IBH8'
G@'?8A8'<B8B4'B@A@G8'
E8ACF'B@9=@F8EG899:8'
8:8E6'HID@E' F@H@DCB';<GCAH89G89'
8GC'?@A=<' H@FIG4'G8B<'8G89'
H@AF8B8':@FCF' B@9J8A<'>@B?8>'C9>CG'
C9>CG'B@D<E8>' H@AB8D8B4
H8<>'FCJ<a
 .@H@A8?8'E8A<'G@BC;<896'
,@>@D8E'?@AF@BH8E89'GCAH89[
1CFCM6'8GC'
%<;8G'H<F8'
-@9@BCG89'
:@FCF4')<'B898';<84'
%<;8G',@IA89=?C9'
:89='-@D<E8>9:8'
,@?89L89='E8A<4 &GC'?<G<A'
;<8'%@A><9==8D'
;<'1@ACF8D@B4

%@>8?<';<8'?8F><'
%8EC'G@><G8'G<>8'
5@A=<4'&GC'?<G<A';<8' 0<>8'
.@AF8B8';@9=89' E8ACF'0@BH8D<'
0@A8H8>'G<>84 ;89'-@9J8A<'
;<84
 08BC'
F@BC8' 08BC'E8ACF'
F@>CLC'.8EK8' .@AE8><3E8><'
B@F<8F'8;8D8E' ;@9=89'0@F<B?CD89'
0@>CAC989' <>C'08A@98'$>C'H<F8'
;8C;6'08A@98' B@9L8;<'/CL8>894
)@B<G<89D8E'
;<G8>8G89'?8A8'
(8H<4'08BC'LC=8'
F@>CLC'H8EK8'
)8C;'B@B89==<D'
;<8'>CE896',@ID8E3
ID8E'B@F<8F'<>C'
&;8D8E'>CE899:84' (8BC9'G8BC'
+8DC'.8=8<B898' H@A?<G<A'.8EK8'
BC9=G<9'B@F<8F' >8MF<A89BC'?8F><'.@98A4'
&;8D8E'G@>CAC989' 58A8'>C83>C8'D@H<E'-@B@9CE<'
;8C;')89' F:8A8>'C9>CG'-@B8E8B<'
F@G8D<=CF'8;8D8E' G@H@98A89':89=',89=8>'
%CE899:86'
G@JC8D<[ ;8D8B'<>C4
 &?8G8E' :@F8:8'WP_T'+CG8F'QPOQ3
%CD<F893>CD<F89' O]T'Q'%<BI><CF'VPN]3N_
)8D8B'98FG8E'
FCJ<'H@98A'&>8C'
><;8Ga'&?8G8E'G<>8' *,#
/89:8'?@AJ8:8' 8*%J
H8=<89'189='
F@FC8<';@9=89'
%A8;<F<'G<>8a

&?8G8E'
G@H@98A89'
.<F8';8D8Ba' %8?<'G8BC'><;8G'
.CG89G8E'0<>8H' HID@E'-@98MF<AG89'
FCJ<';<H@A<G89' 8?8'F8L8',@J8A8'
*9>CG'H<F8'G<>8' E8AM<8E4'%8CA8>
58E8B<a -@9L@D8FG89[Z
 1@FCF6'G8B<',C;8E'
J8A<'G8BC')<'B8983
B8984'-@9=8?8'G8BC'
+8GCG89'<9<'0@?8;8'
G8B<a

)<8'>@D8E'.@AF8B8'
G8B<',@D8B8';C8'E8A<4'
08BC'?C9:8'&98G':89='
DC8A'.<8F84
 -@9=8?8'G8BC'
!8A<'8GC';<'B8983
-898a'%<;8G'>8ECG8E'
08BC'H8EK8'8GC'E8ACF'
-@D8GCG89'?@G@AL889'
.8?8GCa

189=';<B8GFC;':@FCF'&;8D8E'
H8?89:8':89=')<'FCA=86'
8>8C'H8?8',CA=8K<9:84
 &GC'H@DCB'
?@A98E'0@>@BC'
;@9=89',@IA89='
8G89':89='%8EC'
H@=<>C'H89:8G'
%@9>89='>8CA8>4

&?8'
B8GFC;9:86'
Y8GC'E8ACF'
B@D8GCG89'5@G@AL889'
H8?8GCaZ'.CG89G8E'
<>C'8:8E9:8'189='
B@9J8A<';<8a
 1@FCF'
G@BH8D<'
;@9=89'
7A89=>C89:8'
;89';<8'
%C9;CG'
G@?8;8'
B@A@G84'
)<8'>@ACF'
H@G@AL8'
,@H8=8<'
>CG89='
G8:C')89'
H@A>CBHCE' 08A@98';<8'F@D8DC'E<;C?'
;8D8B' )8D8B'G@H@98A89';89'
/<GB8>';89' ,@D8DC'H@AHC8>'H8<G'0@?8;8'
G@;@K8F8894' F@F8B89:86';<8')<FCG8<'
ID@E'F@BC8'7A89=4'
 %<;8G'F@?@A><'5@BC;8'
D8<96':@FCF',@D8DC'
B@B8>CE<'F@BC8'
5@A<9>8E'>CE89'
;@9=89',C9==CE'E8><4

08BC'F@D8DC'
LCLCA')89'8;<D4'
%<;8G'8;8'%CG89='
G8:C';<'98U8A@>'189='
D@H<E'H8<G';8A<'08BC4'
&GC'B8C'?@F89'"98B'
GCAF<'D8=<',@?@A><'
+CG8F'QPO]3RQ <9<4
 $9=8>'H8EK8'
@D<F8H@>'>@D8E'
B@D8E<AG89'898G'
D8G<3D8G<'"98B'
HCD89'F@H@DCB'
B8A<84'-8D8<G8>'
B@9:CACE'U8GE8A<8'
-@98B8<';<8'
:IE89@F6';89'
H8EK8';<8'8G89'
08BC'E8ACF' B@9:<8?G89'/8><'
.@A>IH8>';89'H@AH8D<G' CB8>9:8'C9>CG'
0@?8;8'>CE896'08A@98' G@;8>89=89'
0@A8L889'FCA=8'FC;8E' B@F<8F4'$9<'LC=8'
)@G8>4'^<G8'G8BC'8G89' )<9CHC8>G89'
-@9:<8?G89'E8><BC'C9>CG' D<B8'A8>CF'>8EC9'
-@9@A<B8'B@F<8F6'8GC' F@H@DCB9:8'
&G89'B@BH8?><F'G8BC' ID@E'?8A8'98H<4
0@';8D8B'8<A4
 (8BC9'
8;8':89='8G89'
)8>89='F@FC;8E'
8GC':89=',C;8E'8;8'
F@H@DCB'8GC4')<8'&G89'
B@BH8?><F'G8BC6'
HCG89')@9=89'8<A6'
>@>8?<';@9=89'#IE' &?8':89='E8ACF'0<>8'
>CE894'.@AH8D<GD8E' D8GCG896':IE89@Fa&?8'
;8A<')IF83;IF8' :89=';<>C9>C>'%CE89'
G8BC'F@H@DCB' ;8A<'G<>8'C9>CG'
%@AD8BH8>4' )<H@98AG89a
 ^<G8'G8BC'-@B<D<G<';C8'
H8LC6';89'08BC'H@A>@BC';@9=89'
,@F@IA89=':89='><;8G'?C9:8'.8LC6'
H@A<G89'F8>C'H8LC'0@?8;89:84'
^<G8'G8BC'?C9:8'-8G8989';89'8;8'
F@F@IA89='189='D8?8A6'B8G8'
H@A<D8E')<8'B8G894
!8A<D8E
0@8;<D89'C9>CG
,@BC8'IA89=4
 1IE89@F6',@H8=8<'
?@=8K8<'5@B@A<9>8E6'8?8'
:89='/8ACF'G8B<'D8GCG89'
*9>CG'B@9:@989=G89'%CE89a'
&GC'?@=8K8<'58L8G';89'<9<'
98H8D6'%@98B'F8:86'?@=8K8<'
58L8G'LC=84

^89=89'B@9@A<B8'
,C8?4'^89=89'B@B89M88>G89'
0@;C;CG89BC'C9>CG'B@B@A8F'
,<8?8?C94'08BC'E8ACF'F@D8DC'
&;<D';89'LCLCA4
 &GC'HCG89'
H89=F8BC';89'&=8B8GC'
H@AH@;84'%@>8?<'8GC'LC=8'
$9=<9'B@9:@989=G89'
>CE894'&?8'189='E8ACF'
8GC'D8GCG89a

^89=89'G@L8B'
G@?8;8'.8K8E89BC6'
;89'L89=89'-@9JCA<'8>8C'
B@B89M88>G89'0@;C;CG89BC'
C9>CG'B@B@A8F',<8?8?C94'
08BC'E8ACF'?C8F')@9=89'
=8L<'G8BC4
 0&%&'.&5%$,&('
."#&,&+')&#$'.&/&,&'
1*(&($4'&#%$(1&'
h-"(!"+*50&(i'&%&*'
h-"-."(&-0&(4i

)<8':89='
8G89';8>89='
,@>@D8E'8GC'D@H<E'
H@AGC8F8')8A<'8GC6'
;89'8GC'><;8G'+8:8G'
C9>CG'B@D@?8FG89'
08FC>9:84'^<G8'
G8BC'.@A>IH8>';89'
?@AJ8:86';<8'&G89'
B@BH8?><F'G8BC'
)@9=89'AIE'
GC;CF4
^<G8'G8BC'
B@9ID8G')<86';89'
>@ACF'E<;C?';8D8B'
)IF8BC6';<8'8G89'
B@BHC89='08BC'G@'
;8D8B'8?<'ECGCB89'
0@G8D4'.@AE@9><D8E'
H@AHC8>')IF8'
F@G8A89=4

-8D@8GE<'VPNT'+CG8F'VPQ3NS6'_PQO6'Q_
 ,<8?8'G8BC6'
&GC'HCG89 :89=')8>89='
-@F<8F4 B@BH@A<>8G89'
-@F<8Fa'08>8G89'F<8?8'
08BC'F@H@98A9:84

.CG894'Y8GCD8E'
FC8A8'189='H@AF@AC3 &?8G8E'G8BC'
F@AC';<'58;89='=CAC9P' (8H<':89=';<G8>8G89'
DCACFG89D8E'^8D89' -CF8':8<>C':89='&G89'
C9>CG'B@F<8FZ',@?@A><' ;8>89=';89'-@B<B?<9'
;<9CHC8>G89' CB8>9:8'0@BH8D<'
(8H<':@F8:84 G@?8;8'%CE89a
 ,<8?8':89='
B@BH@A<'08BC'E8G'C9>CG'
B@BH8?><F'7A89=3IA89='
<9<a

&GC'E89:8'
?@FCACE'189='
B@9:<8?G89'L8D89'
08BC'?@ADC' C9>CG'-@F<8F4'08BC'
B@9<9==8DG89' F@?@A><'CD8A4'08BC'
)IF83;IF8BC':8<>C' 5<G<A'H8EK8'08A@98'
G@FIBHI9=89';89' G8BC'IA89='18EC;<6'
0@89=GCE894'08?8G'8G89' ;89'G@>CAC989'
;<?8G8<'?8;8'&G8A'?IEI96' &HA8E8B6'08BC'
;89'G8BC'8G89';<>@H89=' 8;8D8E'898G3898G'
;89')<D@B?8AG89'G@';8D8B' >CE894
D8C>89'8?<'L<G8'08BC'
><;8G'B@9=CH8E'
E8><BC4
 1IE89@F6'
G8BC'.@AG8>8'
B@F<8F'8G89')8>89='
F@=@A84'.8=8<B898'
08BC'>8EC';<86'
G@><G8')<8'
;8>89=a

-8D8<G8>'>CE89'
-@BH@A<'>8EC'8GC'H8EK8'
8GC'&G89'B@D<E8>'AIE'>CE89'
H@AC?8'.CAC9='B@A?8><6'
8G89'>CAC9'G@'&>8F';<8'
;89';<8D8E'B@F<8F6'
^CACF@D8B8>';C9<84
 &GC'>8EC'<9<' 1IE89@F'>@D8E'.@AGEI>H8E'
8G89'>@AL8;<4'-8D8<G8>' F@D8B8'"98B'HCD894'0@><G8'$>C'
28HA<@D'H@AG8>8'G@?8;8GC' :@FCF'H@ACBCA'%<=8'?CDCE'>8EC94
.8EK8'8GC'8G89'B@9=8D8B<'
G@F@;<E89'189='DC8A'H<8F84'&GC'
B8C'8:8EBC6'-8GFC;GC'8:8E'
><A<BC6'B8F<E'E<;C?'*9>CG'
B@D<E8>'E8D'<9<4

&?8':89='
8G89'08BC'
D8GCG89')89'
H8=8<B898a'
&?8G8E'G8BC'
8G89'5@A=<'G@' .8?8GC';<'FCA=8'8G89'
H8<>',CJ<a -@9C9LCGG89'G@?8;8GC4'
5@A>8B86'&GC'E8ACF'B@9@BC<'
:IE89@F';89'&GC'E8ACF';<8'
H8?><F4')<8'>@D8E'-@9:<8?G89'
H89:8G'IA89='*9>CG'E8A<'
?@A>IH8>894
 8G89G8E'
G8BC'?CD89='
B@9@9=IG'
8GC6'<HCBCa

%@9>C'F8L86'<HC6'8GC'
%<;8G'8G89'B@9<9==8DG89'
<HC6'%@>8?<'<HC'E8ACF'GC8>4'
&;8'E8D3E8D'189='8G89'
>@AL8;<'?8;8GC':89='%<;8G'
BC;8E'C9>CG'<HC4

:@F8:8'OXPVT'-8><CF'VPN3NQT'+CG8F'VPNR3NS6'QVT':IE89@F'NPNW3Q_6'VV
 ,<8?G89';<A<BC'C9>CG'G@;8>89=89'
-@F<8F4'/8<6'8:8E38:8E6'G@BH8D<G89'E8><BC'
0@?8;8'898G3898GBC4'08BC'E8ACF'H@AE<GB8>')89'
B@9==C98G89'K8G>CBC'C9>CG'B@9;<;<G'&98G3
898GBC'>@9>89='ECGCB'>CE894'08D8C'&98G3898GBC'
:89=';CAE8G8'B@D<E8>'0@>CDCF89'E8><BC6'B@A@G8'
8G89'G@BH8D<'0@'8:8E'B@A@G86';89'G@DC8A=8BC'
&G89';<?CD<EG894

08D8C'G8BC'H@AF@;<8'
-@9=<GC><'B@F<8F';@9=89',@=@98?'
E8><BC'K8G>C')$&')8>89=6';8>89=D8E'
G@?8;8GC';89'&GC'8G89'B@BH8?><F'G8BC'
F@H8=8<'%89;8'?@A>IH8>89BC6';89'G@><G8'
-@F<8F';8>89=';<8'8G89'-@9=8B?C9<BC4
 1IE89@F6
&G89G8E'G8BC
-@BH8?><FG89
&GCa
08A@98'G8BC'
-@B89='IA89='
:89='.@98A6'8G89'
D@H<E'589>8F'L<G8'
G8BC'-@BH8?><F'
8GC4

1IE89@F6'8GC'
/8ACF'B@B8>CE<'
,@BC8'ECGCB'>CE894'
&GC'&G89'B@D8GCG89'
8?8':89='%@D8E'
;<?@A<9>8EG89'.8?8'
G@?8;8'CB8>9:84
 A#9#&/
'(9+%,*J$
!"#$4(3*7%,$
A#9#&/
'(9+%,*J

-8><CF'VPNV3N_T'+CG8F'VPQN3QQ
 6%4#$
4(4%&/
'(.*%.J
,@E8ACF9:8'
8GC
%8EC4
 E&*3%7$
+#,9%"#
H%&/$,(9"%.*7<
6(+%8%&:%$%"#
A(9"(&%&J
$9<';<86'898G'
;IBH8'%CE896'F8>C3
F8>C9:8'189='8G89'
B@9=E8?CF')IF8'
B89CF<8b
 H%&/
'%7%.#)*
;%9*
?#7%&J

;*%$
,(3%7
;%,%&/J
69*.,#.J
;*%$%"%&
'(&8*9*"%&
6(9%@%%&J
+CG8FPQQT':IE89@F'NPQW3VOT'N':IE89@F'QPN3Q
 )<8'B8C'G@'
186' B898a'
989><6' )<8'8G89'
%@>8?<' B@BH@H8FG89'
;<8'E8ACF' .89=F8'G<>86'
-@9=8D8EG89' HCG89a
2I;889'
;CDC4

3GH??C
#I?>

2I;889':89='>@D8E'
)<8D8B<'ID@E'8;8B';89'F@BC8'
0@>CAC9899:86'>@>8?<'=8=8D4')<8'
E8ACF'B@9=E8;8?<'#8L8'G@=@D8?894
 %CE89'H8?8'H@AG8>8>'G@?8;8'
5C>A89:86':@FCF6'C9>CG'
H@A?C8F8',@D8B8'@B?8>'?CDCE'
E8A<4')<8'%<;8G'B8G89'8?8?C9'
F<89=';89'-8D8B4'0@><G8'
>CHCE9:8'B@D@B8E6',@>89'
B@9JIH8'C9>CG'B@9HCLCG')<8'
C9>CG'><;8G'B@B8>CE<'.8?89:8'
;89'B@BC8FG89';<A<9:84

7A89=':89='?@A>8B86'8;8B6'%<;8G'B@988><'>CE89';89'
0@E<D89=89'G@;C;CG89'$F><B@K89:84'1@FCF'F@D8DC'.@F@A>8'
;@9=89'>CE89'H8?8')8D8B'G@G@G8D896'>@>8?<',@G8A89='
;<8'B@9L8;<'B89CF<84'&?8G8E';<8'H<F8'B@9=8D8EG89'
2I;889':89=';<E8;8?<'F@BC8'7A89=';89'=8=8Da
 1@FCF'H@A?C8F8'@B?8>'?CDCE'
E8A<4'58;8'8GE<A'5C8F89:8'
;<8'B@A8F8'D8?8A'F@G8D<';89'
D@B8E',@G8D<4'F@G8A89=';<8'H<F8'
B@A8F8G89'8?8':89=')<A8F8G89'
IA89='B<FG<9';89'IA89='
G@D8?8A894',@G8A89=';<8'LC=8'H<F8'
B@A8F8G89'8?8':89=')<A8F8G89'
IA89=':89='F8G<>';89'D@B8E4

,@D8B8':@FCF'H@A?C8F86'F@>89'
B@9:@A89='5<G<A89':@FCF';@9=89'
G@A8=C89';89'0@>8GC>894',<'<HDF'
>8EC'H8EK8'K8G>C'*9>CG'B@9=I;8'
:@FCF'8G89'H@A8GE<A4'^C=8',<'
<HDF'>8EC'H8EK8'F88>'<>C':@FCF'
F@;89=')8D8B'G@8;889':89='
>@AD@B8E4',@>894'-@98B?8GG89'
;<A<'G@?8;8':@FCF'K8D8C?C9'/8D'
<9<'L8A89=';<D8GCG89'F@>894
 08A@98'G8BC
&;8D8E'?C>A8
%CE896'G8BC
.@AE8G'C9>CG
-8G894

-8><CF'OPN3VT'+CG8F'OPN3VT'#IB8'
VPQV6'RPNQ3QNT'<HA89<'OPNR
,@>89'B@9==I;8'B89CF<8'
5@A>8B86'8;8B6'C9>CG'
B@B8G89',@FC8>C':89='
;<D8A89=4',@G8A89='
;<8'B@9JIH8'B@B8G8<' $9<'=I;889':89='
2I;889':89='F8B8' >@?8>'F@G8D<'*9>CG'
G@?8;8'898G'-89CF<8'<9<6' F@F@IA89=':89='
:8<>C'?C>A8'%CE896':89=' ><;8G'-8G89'F@D8B8'
F@;89='G@D8?8A894 @B?8>'?CDCE'E8A<4
 ^<G8'G8BC'
&;8D8E'?C>A8'
>CE896'*H8ED8E'
H8>C'<9<'-@9L8;<'
AI><6';89'
-8G89D8Eb
 %<;8G6'8GC'><;8G'
8G896'08A@98'>@D8E'
>@A>CD<FP'-89CF<8'E<;C?'
HCG89';@9=89'#I><'F8L86'
B@D8<9G89';@9=89',@><8?'
M<AB89'>CE894

,@G8A89='8GC
&G89'B@BH8K8
08BC'G@'HCHC9=89
.8<>'>CE89[
 ^<G8'G8BC'8;8D8E'?C>A8'%CE896'
L8>CEG89D8E';<A<BC';8A<',<9<'
FC?8:8'F@BC8'IA89='8G89'
B@D<E8>'58A8'B8D8<G8>':89='8G89'
;8>89=';89'-@989=G8?'G8BC4')89'
F@BC8'IA89='8G89'5@AJ8:8';89'
B@9@A<B8'G8BC'F@H8=8<'-@F<8F6'
;89'8GC'>8EC'H8EK8'<>C',@H8H9:8'
G8BC';8>89=4

LC=8'>@D8E' 08BC'FC;8E'
>@A>CD<FP'G8BC' B@9:@HC>G89'`<AB89'
>CE894')8D8B'M<AB89'>CE89'%@D8E'
><;8G'HID@E' >@A>CD<F'>@9>89='G8BC6'Y>CE89'&G89'
B@9JIH8<':8EK@6' B@B@A<9>8EG89'G@?8;8'?8A8'-8D8<G8>9:8'
>CE89BC4 C9>CG'B@D<9;C9=<'G8BC6';89'-@A@G8'
8G89'B@98>89='G8BC'FC?8:8'G8G<BC'
%<;8G'>@AH@9>CA'?8;8'H8>C4Z',@G8A89='
&;8D8E'F88>'C9>CG'B@9C9LCGG89'G@?8;8'
7A89=3IA89='G@GC8F889BC4
 &GC'>8EC'G8BC'
-@9=8F<E<';C9<8'<9<';89'
08BC'FC;8E';8>89='C9>CG'
-@9:@D8B8>G899:86'L8;<'8GC'
&G89'B@9C9LCGG89'F@FC8>C
189='8GC'?<G<A'G8BC'8G89
-@9:CG8<9:84

-8><CF'OPV3_
 &GC'FC;8E'B@BH8K8'G8BC'0@'F<9<';89'
;8A<'F<9<'8GC'FC;8E'-@9C9LCGG89'G@?8;8BC'
F@BC8'0@A8L889';C9<8';89'G@BCD<889:84'
,@L8G'8;8B'B@9=8H8<G89'8>CA89'>CE896'&GC'
>@D8E'B@B<D<G<';C9<8'<9<4'-89CF<8'-@BH@A<G89'F@BC8'
<>C'G@?8;8GC'.@ACD89=3CD89=4'$>C'F@BC8'B<D<GGC4'
&GC'8;8D8E'?@9=C8F8';C9<8'<9<6'.CG89'G8BC4')89'8GC'
H@AG8>8'G@?8;8BC'.8EK8'8GC'8G89'B@BH@A<G89'0C8F8'<9<'
F@DCACE9:8';89'0@BCD<8899:8'G@?8;8BC6'F@H8H',@BC8'
E8D'<>C'>@D8E';<F@A8EG89'0@?8;8GC6';89'G@?8;8'F<8?8'F8L8'
189='8GC'G@E@9;8G<6'8G89'8GC'.@A<G894',@H8H'<>C6'L<G8'G8BC'
-@9:@BH8EGC6'F@BC8'<>C'8G89'-@9L8;<'B<D<GBC4'&?8G8E'
08BC'8G89'B@9@A<B8'%8K8A89GCa
 /8<'
F@>89b'%@D8E'
>@A>CD<FP'08BC'
E8ACF'-@9:@BH8E' ,@>89'B@9<9==8DG89'GA<F>CF4'5@A>8B8'
:8EK@6'%CE89BC6' 08D<9:8';8D8B'F@L8A8E'B89CF<86'F@>89'
;89'/89:8' -@9=E8;8?<'F@F@IA89=':89='><;8G'H<F8'
G@?8;89:8'08BC' )<><?C4'1@FCF'B@9=8D8EG89'=I;8894'
H@A<H8;8Eb08BC' ,@G8A89=6'8;8'F@F@IA89=';<';C9<86'18<>C'
>@D8E'=8=8Db5@A=<' :@FCF'GA<F>CF6'F8>C3F8>C9:8'189='
;8A<'F<9<b >C9;CG'G@?8;8'>CE89'F@?@9CE9:84
 2I;889'F@D8B8'@B?8>'
5CDCE'E8A<'>@D8E'.@A8GE<A6'
;89':@FCF'+@B8E'F@G8D<'
E8B?<A'0@E<D89=89'>@98=84
 -8D8<G8>3B8D8<G8>')8>89='
B@BH8K8'-8G8989';89'8<A'
-<9CB';89'B@D8:89<')<84'
0@><G8'>CHCE9:8'0@BH8D<'
GC8>6';<8'0@BH8D<'G@'>@B?8>'
1IE89@F'H@AGEI>H8E4

-8><CF'OPS3NNT'+CG8F'OPNO
!""#$%&&'(()*+),-./0((123(4&