Booklet TQM Implementation Framework - SUPER - OK

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otj{yzx* lxus g ru}Ciuyz sgt{lgiz{xotm hgyk zu g nomn gAf}A6EK+z{I~^ jolloi{rzoky ot jui{sktz iutzxurB gshom{u{y x E = l ] 1 s E m t H b `
|gr{kCgjjkjB jkyomtC gtj ykx|oikCuxoktzkj sgt{lgiz{xotm dp5dT|{Fd_,8r xkyvutyohorozoky gtj {tvrgttkj sgotzktgtik vxgizoiky K ` K g G S r b ? E Y B T
iktzxkD Xt Wutm ZutmB sgt{lgiz{xotm otj{yzxoky ng|k mzUd~E1I~asG] }kxk gryu lgikj h* znk sgpuxoz* ul sgt{lgiz{xotm loxsyD o ? 1 i : P w _ v R l ] F
k~vkxoktikj g xksgxqghrk ot}gxjCzxgtylkx ul 9E8kWz`o?\1P^ dtjkx znoy uvkxgzotm kt|oxutsktzB znk gjuvzout ul Y j 3 9 m l U ] > > x g ^
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zxgjotm iutjozoutyB k|kxCingtmotm sgxqkz jksgtjy gtj Va1rxa\F`i5k1 ul `\ vxgizoiky ykkskj zu hk vgxzoi{rgxr* jolloi{rzD T E ] > } 0 i | . D m d 3
{vrolzotm w{groz* xkw{oxksktzy ng|k yngxvktkj otj{yzx*?y BKqCmE=|81STg T|ojktik otjoigzky zngz hkluxk znk GNNFyB Wutm Zutm E = i | e 0 Q U f 9 1 2
lui{y ut jk|kruvotm w{groz* sgtgmksktz gtj ^t1z`o?1GlE=i sgt{lgiz{xkxy ng|k rgmmkj lgx hknotj znk }uxrjCirgyy yGp,eGNNFk0C1v|
osvxu|ksktz vxgizoiky ot mgototm gtj xkzgototm |1d3m>jN*Eiu` iusvgtoky ot gxkgy ul w{groz* vxgizoiky gtj sgtgmksktzD Y C V 3 z ` o ? U 1 e E =
iusvkzozo|ktkyyD cnoy ingvzkx joyi{yyky znk vgxgjomsgzoi `| g @~ 1} - Q G cnoy yoz{gzout xksgotkj {tzor znk kgxr* zu sojCGNNFy ] > m i | y ] C u u A P w
ynolz gtj znk jk|kruvsktz ul w{groz* sgtgmksktz }nkt znkxk }gy joll{yout ul znk Xb^ NFFF ykxoky w{groz* } e F i : 1 6 } G r ` - 8
vxgizoiky ot Wutm ZutmD P w{kyz lux znk otzxuj{izout EEJ<z`\12l1p- yzgtjgxjyB znk iutikvzy ul iutzot{u{y w{groz* ,q\GNNFk0a]E9z`
gtj jk|kruvsktz ul zuzgr w{groz* sgtgmksktz @c`\A mE=i|1d3E]9PU osvxu|ksktz @R`XA gtj zuzgr w{groz* sgtgmksktz @c`\A \ 1 r v X b ^ N F F F G Z E = 1
oy gryu jkyixohkjD srvmd3WwY=i|1 zu znk otj{yzxoky ot Wutm ZutmD 88PapxU0E=>jm
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8A> *K: H? 4HHK 5N:EBMR }HGL<BHNLG>LL GMOOLHAX3 i@Y:-F Xb^ NFFFOGNNJ oy g ykxoky ul otzkxtgzoutgr yzgtjgxjy lux
\gt* kgxr* yz{joky lu{tj zngz w{groz* iutyiou{ytkyy THB w{groz* gyy{xgtik gtj sgtgmksktzB gtj gvvroky zu grr MOOLHBIu3 =6V]Z OLLL
gtj znk osvrksktzgzout ul w{groz* sgtgmksktz y*yzksy eNfo]1gFad}Ez z*vky ul uxmgtoygzouty gixuyy znk }uxrjB rgxmk gtj ysgrrB O E
ot Wutm Zutm }kxk otgjkw{gzk gtj otgvvxuvxogzkD ^tr* `1E=.umpxE=i| sgt{lgiz{xotm gtj ykx|oikyD Xz oy g yzgtjgxj >rgtm{gmk> X b ^ N F F F O G N N J [ K E = @ v
g lk} sgt{lgiz{xotm loxsy ngj jk|kruvkj gtj G0[`Kam`@91G< lux jui{sktzotm w{groz* vxgizoikyB g y*yzks zu zxgiq m i | 1 \ w 1 8 G Z E @ a
osvrksktzkj znkox u}t w{groz* y*yzksyD cnk sgpuxoz* p[BTo?U1mi:pd gtj sgtgmk w{groz* gyy{xgtik gizo|ozoky znxu{mnu{z gt ] J w ^ z F 1 U 1 m 2 m E
ul iusvgtoky ngj tu irkgx w{groz* |oyout gtj soyyoutB 3mC<E=i|G0GuY uxmgtoygzoutB gtj gryu g znoxjCvgxz* g{jozotm sujkr zu b < Z Y o [ F [ / w o ? o
gtj zuv sgtgmksktz ngj rgiqkj znk otozogzo|k zu yzkkx BTi:3Epx[1E=C gyykyyB ikxzol* gtj sgotzgot ikxzoloigzout lux uxmgtoygzoutyD z U x 1 G @ [ E = i | G 0
w{groz* gizo|ozoky znxu{mn iuxvuxgzk yzxgzkmoky gtj vuroiokyD jmTdET~i|YfH* 1MOmpxN*118q
Xt suyz ioxi{syzgtikyB utr* uvkxgzoutgrCz*vk w{groz* U1h*mYh8pVE=c Wutm Zutm sgt{lgiz{xotm otj{yzxoky }kxk rgxmkr* k~vuxzC J G @ V 9 * d n | F 7 v m
uhpkizo|ky }u{rj hk sgjk lux sojjrk sgtgmksktz gtj VGe;k+TE/~P<p uxoktzkjD Xz }gy znkxkluxk jolloi{rz lux sgt{lgiz{xkxy l U U 1 1 E = i | G 0 N *
znk lxutzCrotk uvkxgzuxyD Xz }gy gryu iussut zu lotj daFi|mC8/\8hN zu vktkzxgzk znk r{ixgzo|k otzkxtgzoutgr sgxqkzy }oznu{z 1 . S 4 } ; \ Y G z ` o ?
zngz tu otjkvktjktz w{groz* jkvgxzsktz ux l{tizout *n=1E=M1Ei:hE gzzgototm Xb^ NFFF ykxoky ikxzoloigzoutD cnoy yoz{gzout 1 [ 3 X E _ 1 E p , o ? Z
}gy kyzghroynkj ot iusvgtoky zu ruuq glzkx znkox w{groz* p8OS{NO1E=B;o }gy tuz utr* gvvroighrk zu znk sgxqkzy ul |kx* o F I ` h X b ^ N F F F G Z v :

2 3
iusvkzozo|k gtj nomnC|gr{k gjjkj vxuj{izy @kDmDB [MyvOfx1\wBKG xkgj* lux osvrksktzotm gtjEux {vmxgjotm znkox w{groz* f o ? 1 q Z a [ F U 1 F I
krkizxutoi vgxzy gtj iusv{zkxCxkrgzkj iusvutktzyAB h{z rk+`h6vwTL}-m y*yzksy gtj vxgizoiky ot znk kgxr* GNNFyD ]k|kxznkrkyyB Q T \ X b ^ N F F F G Z _ E =
gryu znk ru}Ciuyz vxuj{izyD Xb^ NFFF ykxoky xkmoyzxgzout T|{~E@VhTZgRmm znoy otixkgykj g}gxktkyy ul jkyomt gtj sgt{lgiz{xk S l p f W 1 g 5 G @ ~ Y C
ngy osvroigzouty ut }nkznkx sgt{lgiz{xkxy igt iutzot{k T?pxURAEww+z{1 ul w{groz* vxuj{izy ux ykx|oiky ng|k xky{rzkj ot w{groz* FIpxm:oMOp71E=
zu k~vuxz znkox vxuj{izy ot znk zgxmkzkj iusvkzozo|k ~EP[hrGbrEo?Z hkiusotm gt otzkmxgr vgxz ul h{yotkyy yzxgzkm* gtj G 0 G ~ J 8 W t E e ; 9 ]
sgxqkzyD Xt GNMNB znk Wutm Zutm mu|kxtsktz ngy o`hXb^NFFFGZ1m2E uvkxgzoutyD cnk tk} suzo|gzout gtj otozogzo|ky U 1 1 Z 1 h * m N * ^ . u
vxusuzkj znk Xb^ NFFF ykxoky ikxzoloigzout yinkskB gtj @~1~EMI*03X\M zu gjuvz w{groz* gyy{xgtik vxgizoiky ngy gryu \ k u 8 r m 3 ~ Y = m E o
kyzghroynkj znk Wutm Zutm `{groz* Pyy{xgtik Pmkti* 1BKU}-GeGNMNkz` hkkt vxusuzkjD zU1uqG;VpVL_E
@WZ`PPA zu gyykyy gtj xkmoyzkx iusvgtoky gyvoxotm zu Yj^rvXb^NFFFGZv: = @v 1x C m ] >G
gzzgot Xb^ NFFF ykxoky yzgz{yD ^znkx luxkomt ikxzoloigzout rYEOmOz`E=@v6 1B=uwyyvLz {P:K>G>LL H? }HGMBGNHNL 5N:EBMR
hujoky gryu kyzghroynkj znkox ulloiky ot Wutm Zutm zu @WZ`PPA 5|n}z`^x1 .FIKHO>F>GM
ykx|k znk otj{yzx*D Xt uxjkx zu nkrv ysgrr gtj skjo{sC pxm2 Xb^NFFF GZv: fozn znk vxusuzotm klluxzy ul w{groz* g}gxktkyy gtj M O O L H B 9 u 3 - F R [ H L
yo+kj ktzkxvxoyky @b\TyA }nu ulzkt rgiqkj xkyu{xiky PiG]9yEP^pf+? znk vxurolkxgzout ul znk Xb^ NFFF ykxoky ul w{groz* { Y : T 9 ^
gtj igvghorozoky ot vxkvgxotm lux Xb^ NFFF ykxoky \7vKdez`MOZUP sgtgmksktz yzgtjgxjy gixuyy otj{yzx*B g l{xznkx eGNNFk0a]Ez`\1e
xkmoyzxgzoutB znk Wutm Zutm _xuj{izo|oz* Ru{tior @WZ_RA 5Gr?z`I~QAv6 iussozsktz zu iutzot{u{y w{groz* osvxu|ksktz @R`XA x g * , p * E = . u m r G
jk|kruvkj g ykizgxogt y*tjoigzkj iuty{rzotm gvvxugin @WZ_RAVSUKh,U1ca ngy hkiusk osvkxgzo|k lux Wutm Zutm sgt{lgiz{xkxy X b ^ N F F F G Z E = i | 1 8 E
lux otjo|oj{gr otj{yzx* ut g ykizuxC}ojk hgyoyD cnk Wutm 2m2[18l8^.MH* zu yzxo|k lux y{x|o|gr gtj ktngtik znkox iusvkzozo|ktkyy 4 g U 0 > j E = , S T } -
Zutm Vu|kxtsktz Xtj{yzx* Skvgxzsktz znkt yzgxzkj K5mIQ1a[FU1L: ot znk sojCGNNFyD Rutzot{u{y w{groz* osvxu|ksktz ngy Q G z ` o ? 1 3 } u 3 X B
zu rg{tin g ykxoky ul w{groz* g}gxktkyy igsvgomtyB pxXb^NFFFGZ1m2G; hkiusk g vxkxkw{oyozk ul kyzghroynotm gtj y{yzgototm K E U 0 E = > j ^ m d M O
yksotgxy gtj k|ktzy @kDmDB >\gqk oz Qkzzkx ot Wutm KwwEz`Yj\15Pp iusvkzozo|k kjmk lux Wutm Zutm sgt{lgiz{xotm m l U } - Y , 1 V D w R G
Zutm> RgsvgomtB `{groz* fkkqB gtj `{groz* \utznB fKGZ1J*E=NVFg otj{yzxoky }noin ng|k xkrokj nkg|or* ut k~vuxz sgxqkzyD X b ^ N F F F k u @ U i : p 7 1
kziDA zu vxusuzk znk osvuxzgtik ul w{groz* i{rz{xkB znk J0mZ/}M@VhIz`o cnk Xb^ NFFF ykxoky lui{yky ut gyy{xotm g iusvgt*?y N * } / E P 9 d U 0 E = >
gjuvzout ul w{groz* iutikvzy gtj sgtgmksktz vxgizoiky ?E\wF/JNVFE=c klloioktz uvkxgzout gz ozy yzgz{y w{uB gtj igt hk {ykj j1^8GU0E=>j@R`XA
ot jkyomtB sgt{lgiz{xotm gtj sgxqkzotm uvkxgzouty ot mE=ygAGM1[4g\1 gy g muuj hgykrotk lux iutzot{u{y w{groz* osvxu|ksktzD p . i | ~ ^ J m > A > j i
otj{yzxokyD Py g xky{rzB znk g}gxktkyy gtj znk gjuvzout e_E=vkuqn1r38 R`X nkrvy sgtgmksktz zu xk|ok} gtj osvxu|k w{groz* :~EmzU1=D@Xt[6
ul znk Xb^ NFFF ykxoky otixkgykj jxgsgzoigrr* ot Wutm ]9pVrJE=4me8 ul znk iusvgt*?y vxuj{izy gtj ykx|oiky iutzot{u{yr* G D G A E @ i a P w _ s 1 Y
ZutmD dyk ul yzgzoyzoigr w{groz* iutzxur gtj g}gxktkyy rFI~mBKN*U1p7 h* znk mxgj{gr ingtmkyB ykk T~nohoz GDGD Xz gjjxkyyky h F 4 m b f 7 G o ? U 1 x
ul i{rz{xgr ingtmky }kxk vxusuzkj ot Wutm Zutm i|GeYjFWZ`PPF uxmgtoygzoutC}ojk gsgrmgsgzout ul |gxou{y vuroiokyB q > 5 2 m v k W 4 g E = .
znxu{mn znk puotz klluxzy ul znk Vu|kxtsktzB WZ`PPB WZ_RmZ/f1c1mYK iutikvzy gtj vxuikj{xky zngz ng|k hkkt jkyomtkj zu u m @ v E ] 9 x q > j h B
WZ_R gtj sgt* uznkx vxulkyyoutgr hujoky gtj rkgjotm d@hWZb`gA1/QpVTE ginok|k >k~ikrrktik>D \gt{lgiz{xotm loxsy tkkj N * F 5 O B K h y F g ^ U
uxmgtoygzoutyB roqk WZb` @Wutm Zutm buiokz* lux `{groz*AB Xb^NFFFGZp3h\`i1 y{hyzgtzogr i{rz{xgr ingtmky zu ktngtik w{groz* ] Z 1 E = G b j K t m * O
kziD Skyvozk znoyB sgt* sgt{lgiz{xotm ktzkxvxoykyB ykG]9eU1DE0rE iutyiou{ytkyy gtj gzzgot w{groz* gyy{xgtikD cnoy oy g 1 q C G K t 1 x q F } -
kyvkiogrr* znk b\TyB }kxk yzorr yzx{mmrotm }ozn znk osvgiz =1]JPf]|fEE=v giiusvgtokj }ozn znk tkkjy ul otzkxtgr osvxu|ksktzB 4 1 6 } F h B Z 1 h * m a
ul znk Xb^ NFFF ykxoky gtj znk w{kyz lux w{groz* kVp6k1>5Gfch sgxqkzotm vuyozoutotmB y{vvrokx iutzxurB gtj i{yzuskx + E = m E < e [ d _ W w
zxgtyluxsgzout ot otj{yzx*D \gt* iusvgtoky }kxk tuz rEeGNNFk05]EdpN gtj xkm{rgzux* xkw{oxksktzyD cnk i{yzuskxy? jksgtjB Y = i | 1 ~ q p V Q E [ 6

+* ++
iusvkzozuxy? vkxluxsgtikB otzkxtgr h{yotkyy yzxgzkmoky G D H 6 N r Q w I p V E = ?
gtj xkj{izout ul w{groz* iuyzy gxk ulzkt znk sgot jxo|otm _ U E @ R R ` X ] > 8 S l E
luxiky ul `\ vxgizoiky zu}gxjy c`\D Xz oy ynu}t ot = 1 ~ q G e P w T K ~ E =
T~nohoz GDH zngz znkyk luxiky jxo|k znk >w{groz* }nkkr> 1 ] 9 E X b ^ N F F F E = G 0 ?
{v}gxj gtj ktngtik znk w{groz* rk|kr znxu{mn R`X 0 d V Z * J E M h 2 Z N z
vxgizoikyD ^tik g nomnkx w{groz* rk|kr ngy hkkt gzzgotkjB E = ? _ T 7 V G 8 ] f } 1
znk Xb^ NFFF w{groz* y*yzks }u{rj xkotluxik znk ginok|kj g F 6 N < p p B T X b ^ N F F F
vkxluxsgtik p{yz roqk g >}kjmk> zu vxk|ktz yrovvgmk ^ h U 1 0 , r 1 8 d @ ~ G
5N:EBMR 4>K?HKF:G<> 0>O>E ul znk >w{groz* }nkkr>D busk xkiktz yz{joky gryu ynu}kj 4 E = M 1 E Z / Y f / 1 U
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*Q<>EE>G<> zngz utr* lk} Xb^ NFFF ikxzolokj iusvgtoky iutyojkxkj 1 ^ r Y r G o ^ p 3 R ` X *
VrS~ znk yzgtjgxj gy znkox {rzosgzk w{groz* mugrB gtj sgt* d d _ W wY = i | 1A 6 G
Ycq uznkxy ngj vrgty zu osvrksktz ux grxkgj* hkkt
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\o`gfnr T`k Qollcin ]n`nc ]u}gjg*yB sgt* sgt{lgiz{xkxy ng|k xkiumtoykj znk I ~ A m E = i | N * 1 u q
E=5u
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osvuxzgtik ul w{groz* @gtj k|kt lux ru}Ciuyz n G N f z ` 1 2 m e
sgt{lgiz{xotmA gtj `\ uvkxgzouty ot Wutm Zutm gy X b ^ N F F F G Z N V p V T E @
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w>3T2y jkrohkxgzkr* yzxktmznktkj znkox `\ vxgizoiky gtj znk t - p * W w Y = i | * d @
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d+ ng|k gryu iutyojkxkj c`\ xgznkx zngt znk Xb^ NFFF h X b ^ N F F F G Z v : G u + _
ykxoky gy znkox {rzosgzk w{groz* mugrB gtj ng|k gjuvzkj rGR`XEc`\h*WlU1h
T~nohoz GDGO cnk >tk|kxCktjotm> vxuikyy ul iutzot{u{y osvxu|ksktz znk R`XEc`\ yzxgzkm* lux y{yzgototm znkox iusvkzozo|k 1 } - Y , G r g h * n p -
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kjmkD P iutyojkxghrk i{rz{xgr ingtmk gtj xkyzx{iz{xotm x q P a E i v k 1 > 5 m >
ul znk zxgjozoutgr vxgizoiky }kxk xkw{oxkj lux {tjkxzgqotm x j n 1 N * G X b ^ N F F F G Z
y{in g yzxgzkmoi ynolzD cnk Xb^ NFFF ykxoky yzgtjgxjy 1 8 S U L p x W w Y = i |
vxu|ojkj g lu{tjgzout lux c`\ osvrksktzgzout zngz 1 ^ k E ; ^ k A v i : 1 N
luyzkxkj g iusvgt*C}ojk uvkxgzoutgr klloiokti* gtj * 7 z m 7 I , P w l U T E
kllkizo|ktkyy ot v{xy{oz ul y{yzgotghrk w{groz* mugryD = 1 M 1 G [ 6 G D I R s z `
T~nohoz GDI jkvoizy znk k|ur{zout ul w{groz* sgtgmksktz E = i | ] > 1 e v G S r b
vxgizoiky ot Wutm ZutmD Xt gjjozout zu znoyB sgt* loxsy ? E N f i : P O 3 d Y = 4

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iutikvzy gtj `\ vxgizoikyB gtj zxgtylkx znk zkintoigrB Umi|c;3uF/\1` zu sgtgmk znk zxgtyluxsgzout ingrrktmky gtj ginok|k 9 p f + ` ] 1 N g m - V
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4?> 7:92Z?0=8 :-50.?4A0>[ j 7:92Z?0=8 .:9?49@:@> 48;=:A0809? >?=,?02D >3:@7/ -0 1:=8@7,?0/
,9/ 49?02=,?0/ B4?3 ?30 -@>490>> ;7,9>Y /0;,=?809?,7 ;:74.40>Y ;7,9> ,9/ :-50.?4A0>[ r? ,7>:
49.7@/0> ?30 /0A07:;809? :1 , <@,74?D ;:74.D ,9/ <@,74?D >?=,?02D[ }30 ,48 >3:@7/ -0 ?: 49?02=,?0
}zv B4?3 ?30 7:92Z?0=8 -@>490>> ;7,99492 ;=:.0>>[ }30 >?=,?02D 8@>? ?309 -0 /0A07:;0/ 49?:
, >0=40> :1 .:9?49@:@> 48;=:A0809? ;7,9> ,9/ :-50.?4A0> 1:= 0,.3 /0;,=?809? ,9/ 1@9.?4:9Y
,9/ ,7>: 1:= ?3:>0 ,=0,> ,9/ ,>;0.?> :1 ?30 -@>490>> B34.3 3,A0 -009 4/09?4140/ ,> =0<@4=492
48;=:A0809?Y ,9/ 80?3:/> :1 8:94?:=492 ,9/ ,>>0>>809? /0A07:;0/[ |@.3 ;7,9> B477 =0>@7?
1=:8 ?30 :?30= ?3=00 >0.?4:9 070809?> :1 ?34> 1=,80B:=6Y ,9/ ,7>: 1=:8 ,.?4:9> ,9/ 494?4,?4A0>
?3,? ,=0 49/0;09/09? :1 4?[ }D;4.,7 0C,8;70> :1 7:92Z?0=8 >?=,?02D 49.7@/0 ?30 0>?,-74>3809?
:1 , .:8;,9DZB4/0 <@,74?D 8,9,20809? >D>?08 V0[2[Y ?30 r|x f]]] >0=40>Y |j e]]] ,9/ z|
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,9/ -09.38,=6 :1 B:=7/Z.7,>> -@>490>> ,9/ :;0=,?4:9> ,.?4A4?40>[
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?5SvH<YpIHgX@DTv,8+[gS|HnkrJV+w/wZ+`9N^~ 0C;0=409.0>T 900/> ?: -0 .:8;740/ ?: 09.:@=,20 .:Z:;0=,?4:9 ,9/ 8@?@,7 ,>>4>?,9.0[ |@.3
APHN^80^hHh|D~r9P5EOGJ0gXM0DkFyDB7LVJJr|x f]]] ,/A4.0 4> ,7>: =0<@4=0/ ?: /0A07:; ?30 <@,74?D >D>?08 ?: 800? ?30 =0<@4=0809?> :1 ?30 r|x f]]]
7=q|j e]]]Hz| f]]]Wq[g~3zOqH28ILkKP3`yBH,:XhQk[ >0=40> >D>?08 >?,9/,=/> ,9/ ?30 ,;;74.,?4:9 :1 ;,=?4.@7,= <@,74?D 8,9,20809? ?::7> ,9/ ?0.394<@0>[
Hyedhr uOfT/Ei6N2lhfG@wo6THA{yeF`pM.t-q?uu_Hg>W
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x=2,94>,?4:9> >3:@7/ /01490 ?30 ?0=8> @>0/ V0[2[Y }zvY <@,74?D ;0=1:=8,9.0Y ,9/ .:9?49@:@> 81 FXYbh]Z]WUh]cb cZ ghU[Yg cZ ]adfcjYaYbh UWh]j]hm/ hU_]b[ ]bhc UWWcibh h\Y ghUfh]b[
48;=:A0809?Y 0?.W ?3,? .:9?=4-@?0 ?: ?30 48;=:A0809? 494?4,?4A0 := 49/00/ B30?30= , ?0=8 4> dc]bh cZ h\Y cf[Ub]gUh]cb/ h\Y ach]jUh]cb Zcf Wcbh]bicig ]adfcjYaYbh UbX h\Y hcc`g
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2@4/,9.0 4> ;=:A4/0/ 49 r|x ea]_g^ffa ,9/ k| adde V;,=?_Wg ^ff^[ j 7,.6 :1 >@.3 /01494?4:9> @aiEJpQLIt[s.=3n8uEKiE3p|5B?}J3~v
.,9 3,8;0= ?30 ;=:2=0>> :1 .:9?49@:@> 48;=:A0809? 494?4,?4A0>Y 4? B477 ,7>: 307; ;=0A09? }D;4.,77DY .:9?49@:@> 48;=:A0809? ,.?4A4?40> B477 2: ?3=:@23 , >0=40> :1 >?,20> 09.:8;,>>492
84>@9/0=>?,9/492 ,9/ /4110=09? 49?0=;=0?,?4:9> -0492 8,/0 -D ?30 A,=4:@> 1@9.?4:9> ,9/ 70A07> ,B,=090>>Y 0/@.,?4:9 ,9/ ?=,49492Y .:9>:74/,?4:9Y ;=:-708 4/09?414.,?4:9Y 48;=:A0809? ;7,99492Y
B4?349 ?30 -@>490>>[ r9 ;,=?4.@7,=Y >:80 ;0:;70 3,A0 /4114.@7?D 49 @9/0=>?,9/492 ?30 /4110=09.0 48;70809?,?4:9 :1 <@,74?D ;7,9> ,9/ ,>>0>>809?[ }30>0 >?,20> >3:@7/ -0 4/09?4140/ ,? ?30 :@?>0?[
-0?B009 }zv ,9/ ,9 r|x f]]] >0=40> <@,74?D 8,9,20809? >D>?08[ j 1:=8,7 ;=:50.? ;7,99492 80?3:/:7:2DY B34.3 =0<@4=0> ?30 4/09?414.,?4:9 :1 8470>?:90> ,9/
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8,9,20809?Y -@? 4> ,9 48;:=?,9? 070809? 49 4?> >@..0>>[ +34.30A0= }zv ,;;=:,.3 4> ,/:;?0/ ,9/ -0.:8492 49A:7A0809? 49 .:9?49@:@> 48;=:A0809?Y -0492 A4>4-70 ,9/ ,..0>>4-70Y 3:7/492
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8,9,20809? 2@=@>WY 4? >3:@7/ -0 170C4-70 ,9/ .,;,-70 :1 -0492 1490Z?@90/ ?: >@4? ?30 -@>490>> ,9/ ,/A4.0Y ,9/ ;7,.492 T<@,74?DT 4>>@0> ,? ?30 ?:; :1 0A0=D -@>490>> ,209/,[ v,9,20809?
900/> ,9/ :-50.?4A0> :1 ?30 :=2,94>,?4:9[ >3:@7/ 4/09?41D 60D ;0=1:=8,9.0 80,>@=0809?>Y ;=:8:?0 ?30 @>0 :1 <@,74?D 8,9,20809? ?::7>
VZF}OfCA+RGHb[DB+fIpdt^}Ezv+QfAPr0w1*@wA ,9/ ?0.394<@0> 49 0A0=D/,D B:=6 ,.?4A4?40>Y /0A07:; ;0=>:9,7 ,.?4:9 ;7,9>Y ,9/ >006 100/-,.6
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?: >00 B30?30= 08;7:D00> -0740A0 ?3,? ?30 :=2,94>,?4:9 4> 20??492 .7:>0= ?: ,.340A492 ?30 }: ,A:4/ ,9D ;:?09?4,7 8,9,20809? /4>.=0;,9.40>Y ,9 ,>>0>>809? :1 ?30 .@==09? :=2,94>,?4:9,7
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?30 1:77:B492 60D ,=0,>g ?: 8,920 ;=:.0>>0> V0[2[ |?,?4>?4.,7 y=:.0>> l:9?=:7WY ?: ?=,9>7,?0 >D>?08 ,9/ 09>@=0 ?3,? ,9D 48;=:A0809?> 8,/0 ,=0 -@47? 49?: ?30 >D>?08[ }30 =0<@4=0809?>
.@>?:80= =0<@4=0809?> ?: ;=:/@.? /0>429 V0[2[ z@,74?D o@9.?4:9 m0;7:D809?WY ?: ,.340A0 ;=,.?4.0 :@?7490/ 49 ?30 r|x f]]] >0=40> .,9 -0 @>0/ ,> , 2::/ >?,=?492 ;:49?[
-=0,6?3=:@23 V0[2[ y=:.0>> {00924900=492WY ,9/ ?: ,>>0>> ;=:2=0>> ,9/ 4/09?41D >?=092?3 ,9/ Jq5/^w.7Lp<Yt6V1,8+I~^}Ezvr-fLq^7b,8H}GF
,=0,> 1:= 48;=:A0809? V0[2[ |071Z,>>0>>809? ?::7>W[ }30 ,=0,>\;=:50.?> 1:= ?30 ,;;74.,?4:9 :1 y7LHm@5a,8bM0G7LBrr|xf]]]7Lty+v1i\^NI+]`r
?30>0 ?::7> ,9/ ?0.394<@0> ,9/ ?30 .:9/4?4:9> V4[0[ :=2,94>,?4:9,7 ,9/ ;0:;70W 90.0>>,=D 1:=
?30 >@..0>>1@7 ,;;74.,?4:9 :1 0,.3 ?::7 ,9/ ?0.394<@0 3,A0 ?: -0 4/09?4140/[ r9 ?30 14=>? ;7,.0Y 471 FXYbh]Z]WUh]cb UbX ]ad`YaYbhUh]cb cZ ch\Yf gmghYag UbX ghUbXUfXg h\Uh aUm VY
.:9>4/0=,?4:9 >3:@7/ 14=>? -0 24A09 ?: 4/09?41D B34.3 ?::7> ,9/ ?0.394<@0> 08;7:D00> ,=0 1,8474,= fYei]fYX Vm WighcaYfg/ `Y[]g`Uh]cb/ cf ]b cfXYf hc WcadYhY
B4?3 ,9/ ?3:>0 ?3,? ,=0 49 =02@7,= @>0[ }::7> ,9/ ?0.394<@0> >3:@7/ -0 .7,>>4140/ ,> .:=0 ,9/ @a5y^w@m-~vWtBkG@8u/CQk~KxF1
:;?4:9,7Y /0;09/492 :9 ?304= 9,?@=0 ,9/ 48;,.? :9 ?30 09A4=:9809? V0[2[ 8,9@1,.?@=492 := j9D :?30= >D>?08> ,9/ >?,9/,=/> ?3,? 8,D -0 =0<@4=0/ ,> ;,=? :1 1@?@=0 .:9?=,.?@,7 := 7024>7,?4A0
>0=A4.0W 49 B34.3 ?30D ,=0 -0492 ,;;740/[ =0<@4=0809?>Y := >48;7D 49 :=/0= ?: .:8;70?0 49 .0=?,49 8,=60?> >3:@7/ -0 4/09?4140/ ,9/
CA5TidHdE+3MH{uRnN{H28:|IyDBrt-Rn,8\*Yvn 48;70809?0/[ nC,8;70> 49.7@/0 r|x ^a]]^g^ffc n9A4=:9809?,7 v,9,20809? |D>?08Y xq|j|
k+5CsDB~3VJJLw~3,QWqm;KPv1fDFXwVJJ8FFyfUWqt ^e]]^g ^fff x..@;,?4:9,7 q0,7?3 ,9/ |,10?D v,9,20809? |D>?08Y ,9/ :?30=> >?,9/,=/> ,9/
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LHN^4zbDVJJk|ee]]q|je]]]Hz|f]]]4Wr`V9rp2vYb}7+q.Z
451 AYjY`cdaYbh cZ h\Y Uddfcdf]UhY hmdY cZ hfU]b]b [ ]b h\Y igY cZ hcc`g UbX hYW\b]eiYg/ +HZy+lpr
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A`S}fC~v5hF3vmtbWHx3z[ 481 >Xcdh]cb cZ dfcWYgg UbU`mg]g UbX ]adfcjYaYbh Ug U Wcbh]biU` dUfh cZ h\Y cf[Ub]gUh]cb,g
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,//4?4:9,7 >0? :1 ;=:-708> 49 ?30 49?=:/@.?4:9 :1 }zv[ r? 4> 48;:=?,9? ?: >070.?Y /0A07:;Y ,9/ zj\B3.5iEt`K.=?{iE\BHK35N
.@>?:84>0 >@4?,-70 ?=,49492 ;,.6,20> :9 ?::7> ,9/ ?0.394<@0> 1:= ?30 :=2,94>,?4:9[ }30=0 4> j 1:.@> 900/> ?: -0 ;7,.0/ :9 ;=:.0>>0> V0[2[ :=/0= 2090=,?4:9Y -@>490>> ;7,99492 ,9/ .:9?=:7W
9: .:==0.? T1:=8@7,T 1:= ?=,49492Y >49.0 0,.3 :=2,94>,?4:9 B477 -0 >?,=?492 1=:8 , /4110=09? =,?30= ?3,9 1@9.?4:9>[ y=:.0>> ,9,7D>4> 24A0> 08;3,>4> ?: ?30 .09?=,74?D :1 <@,74?D ?3=:@23:@?
;:>4?4:9 ,9/ B477 3,A0 /4110=09? 900/>Y ,@/409.0>Y ?:;4.> ,9/ A40B> :9 ?30 /074A0=D 80.3,94>8>[ ?30 -@>490>> ;=:.0>>Y ,9/ ,7>: 1:.@>0> ,??09?4:9 :9 .@>?:80= ,9/ >@;;740= =07,?4:9>34;>[ x9.0
q:B0A0=Y 2::/ ;0=1:=8492 .:8;,940> >3:@7/ 3,A0 B077Z/0A07:;0/Y .D.74.,7 1:=8,7 ?=,49492 60D -@>490>> ;=:.0>>0> 3,A0 -009 4/09?4140/ ,7:92 B4?3 ?304= ;=:.0>> :B90=>Y =,?4:9,74>,?4:9Y

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>48;7414.,?4:9 ,9/ 4/09?414.,?4:9 :1 60D ;0=1:=8,9.0 80,>@=0> .,9 :..@=[ }34> 1:=8> ?30 -,>4> LukH\iy]BaHra5CELH<Y7bFy,8+DLrEL~3gXOfHt
1:= 48;=:A0809? ,.?4:9>[ +KPHILku?nBchrG3\H*=VELAL;t[D0?ryM2Om\28q
3|/`kG~3VJJD~xjq[gw/H,QW Z=fUr~3Es}v[g~3\F =\\iHH*C{+ELrxpsNpEL^Lq^m:+qTy+z3bjIqT;@
yf8OpHJ8uU|GKPHILkyBrd5uky]+[g~3]@t-+~3/ -fqRJu?A5TsMH7mcyr5B1+5CW/+yM\}?5HOcrqAO
T1pCBGqejGHuky]5CEL^i\F92~r G5C;d^\i-fH*1q2pq.3H.0r~9ELKP\i+KeSKyH0ep
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OVT GLTP^`]TZT[_ P[S KTTSQPRXG JYTZT[_^bqmfgtcdn ~D|q>@quzm*H+uEm4rJ~^u;.3+<Upjc3e<UH.3\i
491 FXYbh]Z]WUh]cb UbX XYZ]b]h]cb cZ _Ym ]bhYfbU` UbX YlhYfbU` dYfZcfaUbWY aYUgifYg +KkT1HW+rJq^EL.Z+4MpJJG?y2q<?2kq\}RBHsQ<
hc UggYgg h\Y dfc[fYgg VY]b[ aUXY UbX hc YbgifY WighcaYf gUh]gZUWh]cb *4r
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?30 ;=:2=0>> -0492 8,/0 B4?3 .:9?49@:@> <@,74?D 48;=:A0809?[ }30 80,>@=0809? ;=:.0>> ?H1U~=V9P0|^hYjt-<2~^}ET*p@ALM0itQ+-fr6q
49A:7A0> , ?B:ZB,D 17:B :1 491:=8,?4:9 -0?B009 ?30 :=2,94>,?4:9 ,9/ 4?> .@>?:80=> ,9/ >@;;740=>[ H0|^hM0l,8w/HOf+,8fbG2}Ezvrb[DByMLiRJraE
}30>0 ;,=?40> >3:@7/ -0 .:9>@7?0/ ,> ;,=? :1 ?30 ;=:.0>> :1 /0.4/492 B3,? 80,>@=0809?> ?: Lu?7^HAAGHTvoru_r<YILk5CHIE5ax:0|^h+EL^,
8,60[ l,=0 8@>? -0 ?,609 ?: 09>@=0 ?3,? ,;;=:;=4,?0 80,>@=0> ,=0 /0A07:;0/Y /01490/ .70,=7D 85C+y]r
,9/ @>0/[ r9 :?30= B:=/>Y ?30 80,>@=0> >3:@7/ -0 A4>4-70Y 49A:7A0/ ,77 ?3:>0 .:9.0=90/Y 3,A0
, .:88:9 2:,7Y 3,A0 ,9 @9/4>?:=?0/ .:770.?4:9 :1 /,?, ,9/ -0 >48;70 1:= ;=0>09?,?4:9[ }30 4:1 A]gWigg]cb k]h\ WighcaYfg/ UVcih YldYWhYX dYfZcfaUbWY/ bYYXg/ UbX YldYWhUh]cb/
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?D;4.,7 ;0=1:=8,9.0 ;,=,80?0=> ,=0 /01490/ ?,=20?492 ?30 09/ @>0=>Y >3,=03:7/0=>Y 08;7:D00> sJVf3hFh@8lz<|35*umk5<|
,9/ ?30 .:88@94?D[ }30 14=>? 80,>@=0 =07,?0> ?: ?30 ;0=1:=8,9.0 :1 ,.?@,7 ;=:/@.? := >0=A4.0 }34> 8@>? -0 ,9 :92:492 0C0=.4>0 ?: 09>@=0 ?3,? 2,;> -0?B009 ,.?@,7 ;0=1:=8,9.0 ,9/ .@>?:80=
49 ?0=8> :1 .@>?:80= >,?4>1,.?4:9 ,9/ >;0.414. 10,?@=0>\.3,=,.?0=4>?4.> ,9/ ,??=4-@?0> /01490/ 900/> ,9/ 0C;0.?,?4:9> ,=0 4/09?4140/ ,9/ ,9,7D>0/Y ,9/ ,.?4:9> ;@? 49 ;7,.0 1:= .7:>492 ?30
-D .@>?:80=>[ }30 >0.:9/ 4> ?30 ;0=1:=8,9.0 :1 149,9.4,7 =0?@=9 49 ,=0,> :1 .:>?>Y ;=4.0>Y >,70> 2,;[ }30=0 8@>? -0 , 80?3:/:7:2D ,9/ >D>?08 1:= ,9,7DE492 ,9/ 100/492 -,.6 ?30 /,?, 2,?30=0/
A:7@80Y ;=:14?>Y ;=:/@.?4A4?DY 0114.409.DY .,;4?,7 @?474>,?4:9Y ,9/ =0?@=9 :9 49A0>?809?Y 0?.[ }30 1=:8 .@>?:80=> -D >@.3 80,9>h ?30 >,80 ,;;740> ?: /,?, :9 .:8;0?4?:=>[
?34=/ =02,=/> 08;7:D00 >,?4>1,.?4:9 49 ?0=8> :1 5:- >,?4>1,.?4:9Y ,9/ >;0.414. 900/> ,9/ A,7@0> yM7bukHEs4S5CIKP+T1H}999kpHs^6.9k+^hryMT
/01490/ -D 08;7:D00>[ }30 1:@=?3 80,>@=0> ?30 >:.4,7 48;,.? >@.3 ,> ,?8:>;30=0 084>>4:9>Y SvH7LFEsHIERJ[KP+u?p2{*l*{1+u?r
74<@4/ /4>.3,=20Y ,9/ B,>?0 /4>;:>,7 ,9/ =0.D.7492Y 0?.[
4;1 @cbg]XYfUh]cb cZ VYbW\aUf_]b[/ cbWY h\Y cf[Ub]gUh]cb \Ug hU_Yb gcaY ghYdg Xckb
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60D =0>@7? ,=0,> ,9/ 80,>@=0>[ r? 4> @>01@7 ?: 100/ -,.6 /,?, :9 ?D;4.,7 84>?,60> ,9/ B3,? 7:92Z X.=UEKiEbB*`JwqjQt[sxyZM
?0=8 .:==0.?4A0 ,.?4:9 3,> -009 ?,609 ?: ,A:4/ ?308 -0492 8,/0 ,2,49h ,9/ ,.340A,-70 2:,7> }30 .:9.0;? :1 -09.38,=6492 4> , ;=:A09 ?0.394<@0 1:= ,>>4>?492 .:8;,940> B4?3 , .:9?49@:@>
,9/ ?,=20?> >3:@7/ -0 0>?,-74>30/[ r? 4> ,7>: 48;:=?,9? ?: -@47/ =0>@7?> ,9/ .:==0.?4A0 ,.?4:9> ;=:.0>> :1 <@,74?D 48;=:A0809?[ r? 4> , ;=:.0>> B30=0-D 49?0=9,7 ;0=1:=8,9.0 ,9/ ;=,.?4.0>
49?: 48;=:A0809? ;7,9> ,9/ >?,9/,=/4>0 ?30 48;=:A0809?> ,.=:>> ?30 :=2,94>,?4:9[ |094:= ,=0 .:8;,=0/ ?: :?30= .:8;,940>Y 49.7@/492 ?30 >@;0=4:= ;0=1:=8492 .:8;,940>Y 49 , -4/ ?:
8,9,20809? 8@>? =0.:294>0 ?3,? 2,?30=492 /,?, 1:= 0C?0=9,7 80,>@=0> 4> ?480Z.:9>@8492 ,9/ /0A07:;Y 48;=:A0 ,9/ ,.340A0 -0>? ;=,.?4.0 ?3,? 70,/ ?: 48;=:A0/ ;0=1:=8,9.0[
0C?=, =0>:@=.0> 8,D -0 900/0/[ j>>0>>809? :1 >@;;740= ;0=1:=8,9.0 ,9/ 100/-,.6 :1 ,9D ,:+^c5>4^RnDkV1,8Fy~3+{urt^\Ba5CH4zIN^Dk
80,>@=0809?> ,7:92 B4?3 .:==0.?4A0 ,.?4:9> 4> ?30 60D 1:= ;0=1:=8,9.0 48;=:A0809?[ WxpgX5CcH+Dkp\1P~28q,8HtQhG4z|\,85Cr

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4<1 @cbg]XYfUh]cb cZ jUf]cig aYUbg Zcf WY`YVfUh]cb UbX Wcaaib]WUh]cb cZ giWWYgg/ UbX 541 Rh]`]gUh]cb cZ gcaY aYUbg cZ UggYgg]b[ h\Y dfc[fYgg hckUfXg kcf`X0W`Ugg dYfZcfaUbWY
h\Y XYjY`cdaYbh cZ aYh\cXg Zcf fYWc[b]g]b[ h\Y YZZcfhg cZ hYUag UbX ]bX]j]XiU`g bJwq;/F_6R=Li5d3HA
[sQf;/rf5OuYAtA`j4_P5\zd|3;/ x9.0 >:80 :1 ?30 -,>4. >?0;> 49 ?30 .:9?49@:@> 48;=:A0809? ;=:.0>> 3,A0 -009 49 ;7,.0Y ?30
}30 4>>@0 :1 :B90=>34; 1:= <@,74?D ,>>@=,9.0 ,9/ 48;=:A0809? 4> 74960/ ?: ;=:A4/492 ,/0<@,?0 ;=:A09 80,9> :1 ,>>0>>492 ?30 ;=:2=0>> :1 -@>490>> ?:B,=/> B:=7/Z.7,>> ;0=1:=8,9.0 >3:@7/
=0.:294?4:9Y =0B,=/> ,9/ 49.09?4A0> 1:= <@,74?D 011:=?> ,9/ 49 ?34> B,D ?30 80>>,20 ?3,? <@,74?D -0 @>0/[ o:= 0C,8;70Y ?30 v,7.:78 k,7/=420 w,?4:9,7 z@,74?D jB,=/Y ?30 n@=:;0,9 z@,74?D
4> , >?=,?024. .:9.0=9 4> =0491:=.0/[ y@-74>3492 >@..0>>0> ,9/ ,B,=/> ,??,490/ B:@7/ -0 ,9 jB,=/Y := :?30= 9,?4:9,7 ,9/ =024:9,7 <@,74?D 0C.07709.0 ,B,=/> >3:@7/ -0 .:9>4/0=0/[
0110.?4A0 80,9> :1 .:88@94.,?492 3:B ;0:;70 3,A0 ?,.670/ .:9?49@:@> 48;=:A0809?[ r? 307;> d5s^a6V1,8~3rz/AQpLH*5>>Sv<YDk[BXhQ5C+DLr
?: -@47/ 49 ;0:;70U> 849/> ?3,? -09014.4,7 .3,920> 3,A0 >?,=?0/ ?: ?,60 ;7,.0Y ?3492> ?3,? ,? JJYb]bhckhi Zbhdlgfe ^bmgkjbh z@,74?D jB,=/qn@=:;0,9 z@,74?D jB,=/ fN^oSH
:90 ?480 ,;;0,=0/ 48;:>>4-70 ,=0 9:B ;:>>4-70 ,9/ 307;> .:9A0=? ?30 .D94.> Z B4?3 ;@-74>30/ ipFySBlr
0A4/09.0 :1 >@..0>> ?3,? ?30D .,99:? >,D }zv 4> 9:? B:=6492[ {0.:294?4:9 ,9/ .:88@94.,?4:9
:1 >@..0>> .,9 -0 1,.474?,?0/ 49 , 9@8-0= :1 B,D>[ nC,8;70> 49.7@/0 ;@-74.4?D 49 ?30 .:8;,9D
90B>70??0=Y ;0=>:9,7 T?3,96 D:@T ,9/ T;=,4>0T 9:?0>Y >8,77 ?:609> :1 ,;;=0.4,?4:9 V>@.3 ,> OVT GIVP[UW[U _VT I`Y_`]TG JYTZT[_^bkshecdn
80,7>Y .0=?414.,?0> ,9/ ?=:;340>WY >;0.4,7 1@9.?4:9> V>@.3 ,> .070-=,?4:9 /,D> ;=0>09?,?4:9>Y 551 >ggYggaYbh cZ h\Y WiffYbh ghUhig cZ cf[Ub]gUh]cbU` Wi`hifY VYZcfY XYjY`cd]b[ UbX
/4990=>Y :A0=>0,> ?=4;>WY ,77:.,?4:9 :1 >3,=0> 49 ?30 .:8;,9DY ,9/ ?30=0 4> ,7>: =0.:294?4:9 :1 ]ad`YaYbh]b[ Zcf W\Ub[Y
;0=1:=8,9.0 -D .@>?:80=>[ r9 >:80 :=2,94>,?4:9>Y ;0:;70 /: 9:? B07.:80 49/4A4/@,7 =0.:294?4:9 F_*c.=:4320?`A`5y^iN
,> ?30D 8,D 1007 @9.:81:=?,-70 -D ;00=> -@? 49 :?30=>Y ?:609> :1 =0.:294?4:9 ,=0 B,=87D /0>4=0/ j9 ,>>0>>809?Y 1=:8 -:?3 8,9,20809? ,9/ 08;7:D00 ;0=>;0.?4A0>Y :1 ?30 .@==09? >?,?@> :1
,9/ ,;;=0.4,?0/[ }: 307; 49 /0.4/492 ?30 8:>? ,;;=:;=4,?0 B,D ?: .070-=,?0 >@..0>>Y 4? 4> ?30 :=2,94>,?4:9,7 .@7?@=0 ,9/ 08;7:D00 >,?4>1,.?4:9 >3:@7/ -0 @9/0=?,609 -01:=0 14=8 ;7,9>
=0.:8809/0/ ?3,? A40B> 1=:8 08;7:D00> >3:@7/ -0 >:@23?[ 1:= .3,920 ,=0 /0A07:;0/[ j9 :=2,94>,?4:9 900/> ?: -0 ,-70 ?: 80,>@=0 ,77 ?30 .@7?@=0 .3,920>
Fy@vH,8+/T6]6:uIC{L-qlJH7J+Fyh|p\VSBie}F /@=492 ?30 48;=:A0809? ;=:.0>>[ r? 4> 48;:=?,9? ?: 3,A0 3,=/ /,?, =,?30= ?3,9 , A,2@0 48;=0>>4:9
y^5E+yu+>=rDwU~+QfHlKwZ^T>SvOcz-Se/8V1,8r :1 ;=0A,47492 ,??4?@/0> ,9/ 70A07> :1 5:- >,?4>1,.?4:9[ kD .70,=7D 4/09?41D492
tRnM0z-+>cpTL+,;5F[s^q|g^7iU+CCG5TiUpHRn .@==09? ,??4?@/0> ,9/ 70A07> :1 5:- >,?4>1,.?4:9Y ,9 :=2,94>,?4:9 .,9 0>?,-74>3 , -,>07490 ,2,49>?
m;Iw=+zQ\5DhQf+>0H^-7i\N:|IDB^7i^rL-HOcQf B34.3 ?: 80,>@=0 1@?@=0 2,49>[ |094:= 8,9,20809? 8@>? -0 ;=0;,=0/ ?: =0>:7A0 .:9174.?>Y
i\TNH` <ADrJJgXGDkd}JOq.z
uHXfv
HuCqv?:qVX+2@ ,9/ =0>4>?,9.0 ?: .3,920 B34.3 4> 4/09?4140/ 49 ?30 ,>>0>>809?[
`VJJHHq>BHocFWqKkf-VJJaOT:cq8HqJr@zWqE^Dk26 28sY,;w/CpL*DBH.3B`<YCAOfRGCG~wH.3<UrOfT
HKPC35:ra6OfBpa6zC776.zC3Df^-iH@CV-79{pd vTU|ELhT,8~3+RG,;r3|VT4yu?Z=c^7LH3e<U3L+
GN^OfpVX+@`^kO+}9HtxrM.*.3B`o}C{SvaOQfr ro?@^}Ezvr=\ukCA7LH3e<U3LpOfiM0ELwKXL+_rr
b[DByM,gp3<YAukc+:kH,;+;|r
531 @cbg]XYfUh]cb cZ `]b_]b[ fYkUfXg hc Wcbh]bicig ]adfcjYaYbh UWh]j]h]Yg UbX fYgi`hg
[s5mw15EKiEJp5D- 561 OYWc[b]h]cb cZ h\Y cb[c]b[ bUhifY cZ Wi`hifY W\Ub[Y fUh\Yf h\Ub U dfYfYei]g]hY
l:9?49@:@> 48;=:A0809? >3:@7/ -0 , 9,?@=,7 ;,=? :1 0A0=D ;0=>:9U> 5:- -@? ;0:;70 ,? /4110=09? Zcf QNJ
70A07> :1 ?30 :=2,94>,?4:9> 3,A0 B4/07D /4110=492 0C;0.?,?4:9> :1 B3,? .:9?49@:@> 48;=:A0809? `Dj4]@H^3:4iN\:OV0{g~GN3
80,9> ?: ?308 ;0=>:9,77D ,9/ ?30 .:8;,9D[ o49,9.4,7 =0B,=/ 1:= ;,=?4.4;,?4:9 49 48;=:A0809? l@7?@=0 .3,920 8@>? -0 =0.:294>0/ ,> :92:492Y =,?30= ?3,9 , ;=0Z=0<@4>4?0 ?: ?30 49?=:/@.?4:9
,.?4A4?40> >3:@7/ -0 /4>.:@=,20/ -@? ;0=3,;> 9:? :A0=7::60/[ :1 }zv[ |:80 /02=00 :1 .@7?@=0 .3,920 49 ?0=8> :1 >094:= 8,9,20809? .:884?809? ,9/
V1,8Lq^0_z]3e[1+wa6pdGOfB7@Qk+z36.zHDkV1 70,/0=>34; ,9/ ;=:A4>4:9 :1 ,/0<@,?0 =0>:@=.0> 8@>? 3:B0A0= ?,60 ;7,.0 ;=4:= ?: ,9/ ,> ;,=?
,8+UiT]/7@4}9rjI,8dh+[glJLq7-JpdfW7Ub;r :1 ?30 x=2,94>492 >?,20[ r9 ;7,99492 ,9D .@7?@=0 .3,920>Y 4? 4> @>01@7 ?: /0A07:; ?3496492 ,7:92
?30 7490> :1 TB30=0 ,=0 B0 9:BiT ,9/ T+30=0 /: B0 B,9? ?: -0iT v4//70 8,9,20809?
8@>? -0 49A:7A0/ 49 ?30 ;7,99492 ;=:.0>> >49.0 ?30 -@=/09 :1 .3,920 1,77> :9 ?308[
RG,;yM^7bD^pZ=mfN{:|IyDBCyv+ra63L+b[DBi<
`^ `_
HU-RG,;HILC{+u_DyMGOfIbf9Cs^rw/5aRG,;Apx 591 FXYbh]Z]WUh]cb cZ h\Y ]bhYffY`Uh]cbg\]dg cZ U`` UWh]j]h]Yg/ UbX h\Y kUm ]b k\]W\ h\Ym
:uy-CAG@RtvHuy-v9~B@R`tv+RW28^}ET*Rr8[DBy Wcbhf]VihY hc eiU`]hm k]h\]b h\Y cf[Ub]gUh]cb ]b cfXYf hc a]b]a]gY WcbZ`]Wh
MjIw/+~3Df,;+30kG^->+r @a*ZJp3M/B=5@[b.=1?{3tEu?6.N
l:9174.?> 8,D ,=4>0 B30=0 ?30 48;,.? :1 >?=,?024. 494?4,?4A0> 800?> ?30 ;=:-708> :1 /,DZ?:Z/,D
571 Q\Y XYjY`cdaYbh cZ d`Ubg Zcf W\Ub[Y h\Uh YbUV`Y ]h hc hU_Y d`UWY ]b U Wcbg]ghYbh =@99492 :1 ,9 :=2,94>,?4:9[ }30=0 B477 ,7>: -0 , A,=40?D :1 494?4,?4A0> 2:492 :9 ,? :90 ?480Y
UbX ]bWfYaYbhU` aUbbYf 8,9D :1 B34.3 B477 ,110.? >?,11 /4=0.?7D V0[2[Y 49>?,77,?4:9 :1 90B .:8;@?0= >D>?08>Y /0A07:;809?
A`iNR^sE?>DwO5p7;XH^ :1 491:=8,?4:9 ?0.39:7:2DY .:>?Z.@??492 0C0=.4>0>Y ,9/ 8,=60?492 ;=:8:?4:9>Y 0?.WY ,9/ :?30=>
nC;0=409.0 49/4.,?0> ?3,? 41 ?30 .3,920 4> ?:: 2=0,? ,9/ @9;7,990/Y ?30 :=2,94>,?4:9 B477 =0A0=? 8,D 49/4=0.?7D .:9?=4-@?0 ?: ?30 <@,74?D :1 ;=:/@.? ,9/ >0=A4.0 ;=:A4/0/[ r? 4> 48;:=?,9? ?3,?
-,.6 ?: ?30 >?,?@> <@:[ l3,920 >3:@7/ -0 ;7,990/ ,9/ ?,60 ;7,.0 49 , .:9>4>?09? ,9/ 49.=0809?,7 8,9,20809? ,9/ >?,11 @9/0=>?,9/ ?30 =07,?4:9>34; -0?B009 ?308 ,9/ ?30 1:=8,7 .:9?49@:@>
8,990=[ l70,= ,9/ ;@-74. /4>;7,D> :1 60D 49/4.,?:=> ,9/ T3:B ,=0 B0 2:492T /,?, 307; ?: 09>@=0 48;=:A0809? 494?4,?4A0>Y :?30=B4>0 ?30D 8,D -0 ;0=.04A0/ ,> -0492 49 .:9174.? ,9/ :A0=7,;Y ,9/
?3,? ?30 .3,920> B34.3 ,=0 8,/0 ,=0 =0,7 ,9/ ?3,? 9: >74;;,20 :..@=>[ y7,9> 1:= .3,920> 8@>? ?3@> =0>@7? @9/0>4=,-70 :@?.:80>[ }30 49?0=Z=07,?4:9>34;> :1 ,77 ,.?4A4?40> 49 ?30 :=2,94>,?4:9 ,9/
-0 :@?7490/ 49 >;0.414. ?0=8> ,9/Y B30=0 ;:>>4-70Y <@,74140/ ,2,49>? , ?480 >.,70[ j 70,=9492 ?30 B,D 49 B34.3 ?30D .:9?=4-@?0 ?: 48;=:A0809? >3:@7/ -0 4/09?4140/Y >: ?3,? .:9174.?> 849484>0/
;=:.0>> 8@>? ,7>: -0 >0? @; B4?349 , .:9?0C? :1 .::=/49,?0/ :=2,94>,?4:9,7 ,9/ 8,9,20=4,7 ,9/ <@,74?D -0.:80> ;,=? :1 ?30 B,D 49 B34.3 ?30 -@>490>> 4> =@9[
494?4,?4A0>Y ?: ;=:8:?0 ?30 >;=0,/ :1 ?30 90B .@7?@=0 ,9/ ?30 /0A07:;809? :1 90B ,??4?@/0>[ 5E[i|4M:Tx+lp^iN]:k+rHA+[i|Z@AD^p/a6Z,._
|?=,?0240> ,7>: 900/ ?: -0 0>?,-74>30/ 1:= :A0=.:8492 =0>4>?,9.0 ?: .3,920 ,9/ 307;492 ?: .=0,?0 ah3VJJnhY*j7Lp28u>m{p,gQzWvl/]4WpN^iUG.I~
, .748,?0 .:9/@.4A0 ?: .3,920[ DFHogFyrDBHh3xp^-G+yBHV1,8[i|^}EzvppD^-i
g>=/u,;J/H5Tw/pOfwZTr2~rL\wsH^/XeSPw/Hs^ UV-:kHz8Z:;c79+6qrLukcOfBhTdh+i;yBHt-I~,
,;r=zF8/y]WfHuy-SeC`vu?i\Rnm@4ys^,;H5Tah 8+SvpH:k,KHFyQfTx[g+wa6r
2~r,;w/yT\K\yKtypJTiU\AG:Er,Q~3yMM0GFCOf
HDBYhr{BpADYRGOcH28Y7Lr2TvM05Eio,;+;|HRn 5:1 FXYbh]Z]WUh]cb cZ ZUWhcfg h\Uh ]bX]WUhY h\Uh QNJ \Ug ghUfhYX hc W\Ub[Y Wi`hifY
i_Tn-,;+G/r @aOLOV0{g~*J{iN:43Tg
+4?3:@? ?30 4/09?414.,?4:9 :1 ?30>0 1,.?:=> 4? 4> /4114.@7? ?: 69:B B30?30= .@7?@=0 .3,920> 4>
581 Q\Y fYWc[b]h]cb cZ h\Y fc`Y cZ dYcd`Y k]h\]b h\Y cf[Ub]gUh]cb ?,6492 ;7,.0Y ,9/ ?30 .:9.0;? 8,D -0 @9/0=8490/ -D T7,.6 :1 =0>@7?>TY o,.?:=> ?3,? 49/4.,?0
j4z[U.=13pX ?3,? .@7?@=0 4> .3,92492Y 49.7@/0g
r1 .@7?@=0 .3,920 4> ?: -0 >@..0>>1@7Y ?30 ;0:;70Z-,>0/ 1,.?:=> 49 ?30 :=2,94>,?4:9 8@>? -0 ?,609 I y0:;70 >00 1:= ?308>07A0> ?30 900/ 1:= <@,74?D 8,9,20809? ?::7> ,9/ ?0.394<@0>
49?: ,..:@9?[ }30 B,D ;0:;70 ,=0 ?=0,?0/ 4> A4?,7Y >49.0 ?30D ,=0 ,9 ,>>0? B3:>0 A,7@0 ?: ?30 I v:?4A,?:=> ,9/ .3,8;4:9> >?,=? ?: 080=20 1=:8 A,=4:@> ;,=?> :1 ?30 :=2,94>,?4:9[
:=2,94>,?4:9 .,9 -0 49.=0,>0/ -D .,=01@7 9@=?@=492 := /0.=0,>0/ -D ;::= 8,9,20809?[ r? >3:@7/ I y0:;70 ?,76 ;=:.0>>0> ,9/ 9:? 1@9.?4:9>
-0 =0.:294>0/ ?3,? 8:>? :=2,94>,?4:9> .:8;=4>0 ;0:;70 :1 /4110=492 ,20>Y -,.62=:@9/Y >6477>Y I l3,920> ?: ;=:.0/@=0> ,9/ >D>?08> ,=0 0,>40= ?: 8,60
,-474?40>Y 70A07> :1 09?3@>4,>8Y 70A07> :1 170C4-474?D ,9/ ,-474?D ?: ,..0;? .3,920[ }30 80,9> :1 I y0:;70 ,=0 9:? ,1=,4/ :1 0C;=0>>492 ?304= A40B>
/0A07:;492 ,9/ 49A:7A492 ;0:;70 8@>? -0 4/09?4140/h , >6477> ,@/4? 4> , @>01@7 >?,=?492 ;:49? 1:= I y0:;70 >3:B , ;:>4?4A0 =0>;:9>0 ?: =0.:294?4:9
?34>[ o:= 0C,8;70Y 08;7:D00> B477 -0 8:=0 8:?4A,?0/ ?: ,..:8;74>3 :=2,94>,?4:9,7 2:,7> ,9/ I n8;7:D00> ,=0 A40B0/ -D >094:= 8,9,20809? ,> ,9 ,>>0? ,9/ 9:? , .:>?
:-50.?4A0> 41 ?30D 3,A0 ?30 ,@?3:=4?D ,9/ ,=0 08;:B0=0/ ?: 8,60 /0.4>4:9>[ I y0:;70 A:7@9?00= ?: ?,60 :9 ?,>6> B34.3 ;=0A4:@>7D ?30D B:@7/ 3,A0 >,4/ Tr? 4> 9:? 8D
uvQf,;RGpyMYbOfB\zfz+DPrOz+Sv^}EzvpDf^-^ ;=:-708T ,9/ 3,A0 49A:7A0/ .:9>4/0=,-70 902:?4,?4:9> -0?B009 8,9,20809? ,9/ ~94:9>
Of+uDp2O+t~i`tX9p9>+DBZ`t,Kr/a6+Ofgr7@Ooq I |?:; >?0B,=/> ,>>4>?492 8,9,20809? ?: 0C;7,49 90B ;=:.0/@=0>
r{q{SqU|qkO3Lq{Le3LH.V,;+3LpyM28HAz3jI+S I r/0,> ,9/ >@220>?4:9> >?,=? ?: 17:B 1=:8 ?30 >3:; 17::=
vp{SYCi\^}ET*+]`rJJ.3Z-e7JFtQOf+-fu^T6HP I }0,8> 800?492 B4?3:@? ;,D 49 ?304= :B9 ?480
06ec3\r I }30 /4>?49.?4:9 -0?B009 ?30 T8,9,20=T ,9/ ?30 T8,9,20/T -0.:80> 3,ED

`` `a
I }zv .:9?49@0> ,9/ 84//70 8,9,20809? >?,D .:884??0/ 49 ?30 1,.0 :1 :=2,94>,?4:9,7
49>?,-474?D
I z@,74?D .4=.70> ,>6492 8,9,20809? ?: >@220>? ;=:50.?>
I |094:= 8,9,20809? >341?> ?304= ,??09?4:9 1=:8 }zv ?: .:9.09?=,?0 :9 :?30= ?3492> ,9/
48;=:A0809? ,.?4A4?40> .:9?49@0[
5Tuk[DDPp^}Esz-{RG^p|G,8p^cZTuSZ6qv^=Xqr

w
=/RG|G,;+DPgXs
I z-j:[4TvFyDB3MH{u
I 7J1H/21GOfB7@a6=CcK
x**{~z}-
9/yv
I z-W1~3Z7^fU 2lr>}8
I -7m,;3wH7L
I z-75d5|^-+B`
I z-6TL-5|||IL
4 ;IRS OF
I b[DB;.3fuDZ=Qz ?EUIEV >TERSIONR
I z-|Ui35gp\`^-ZNut7^y+lpvpGDBH3ZGjIid+tl
I cV+g3_DBp/Y3w
I U:HM.+?GF[ch
I 2OZ.7<H*^-z>AG
IngBvHuTDBv+ik;~Ro
I :|IyDB,1p8[DBGOf7s\+w@Vi<
I Fynv1DBM.vpK- 4 q:B >3:@7/ ,9 :=2,94>,?4:9 1:=8@7,?0 7:92Z?0=8 >?=,?0240> 1:= .:9?49@:@> 48;=:A0809?i
I b[DBmIuU|p+:|IyDBmfvuN^CKpH,8dh,1s^ 7[OfLJaM09PV1,8+5Et

5;1 @cbg]XYfUh]cb cZ h\Y Wi`hifY cZ U Wcibhfm UbX ]hg dYcd`Y ]b d`Ubb]b[ Zcf W\Ub[Y 5 q:B >3:@7/ ?30>0 >?=,?0240> -0 49?02=,?0/ ?: ?30 48;70809?,?4:9 :1 }zvi
R^iNc[ss_5wzI3:4 [D,85ELSe6CG:|IyDB+4[Bt

r9 ;7,99492 1:= .3,920Y ?3:@23? 900/> ?: -0 24A09 ?: ?30 .@7?@=0 :1 , .:@9?=D ,9/ 4?> ;0:;70
6 +34.3 ?::7 := ?0.394<@0 >3:@7/ -0 .3:>09 1:= >;0.414. .4=.@8>?,9.0> :1 }zv ,/:;?4:9i
,9/ ,7>: ?: ?30 .@7?@=0 B4?349 , 20:2=,;34.,7 =024:9 :1 , .:@9?=D[ o:= 0C,8;70Y ?30=0 4> , ?09/09.D
JaB1C{+3Mf{uh^C:|IyDB+4[t
1:= l3490>0 ;0:;70 9:? ?: -0 :;09 49 =0170.?492 :;494:9> ,9/ 4/0,>Y B347>? q:92 t:92 ;0:;70
,=0 =0.0;?4A0 ?: .3,920 -@? 7::6 14=>? 1:= ;0=>:9,7 8:90?,=D =0B,=/ ,9/ -09014?> >@.3 ,??4?@/0>
7 q:B >3:@7/ ?30 ?::7> ,9/ ?0.394<@0> -0 8:94?:=0/ ?: /0?0=8490 41 ?30D ,=0 -0492 ,;;740/
.,9 -0 49 .:9174.? B4?3 .@7?@=0 .3,920 B34.3 4> , 7:920=Z?0=8 ;=:.0>>[
49 ,9 ,;;=:;=4,?0 8,990=i
,;RGApTvYbo6+RGHt+z}pHo6FBipB+RGrJJ8oz]P
LSe?5[D3MH{uG/^:|IyDB+>*t
B7FkFI]Y|HU:p^1*+z]|U,;pd^-/H~9u;.z8D+lJ
HLRpV7LiIx9}RG,;~3D~.kr 8 q:B >3:@7/ ,;;=:;=4,?0 ;0=1:=8,9.0 80,>@=0> -0 /0A07:;0/i
LSeX0<b7[5Cfbt

9 +3,? 80,>@=0> B477 -0 ?,609 ?: 49>@=0 ?3,? ,;;=:;=4,?0 =02@7,?:=D =0<@4=0809?> ,=0 80?i
JaU3@D<brQ^[CvP++U\t

aX aY
: q:B >3:@7/ ?30 .@==09? >?,?@> :1 ?30 :=2,94>,?4:9,7 .@7?@=0 -0 0A,7@,?0/i
LSe<COfRG+Cwt

; q:B .,9 ?30 ;7,990/ .3,920 -0 8,/0 49 , ;:>4?4A0 8,990=i


SeiT>F/^6DkT||-B+w/,;t
GQ5
< +3,? ,=0 ?30 :-50.?4A0> 900/0/ ?: >,?4>1D .@>?:80= 0C;0.?,?4:9> ,9/ ;=:A4/0 48;=:A0809?
49 :A0=,77 -@>490>> 0114.409.Di
7LORRBQW
SeX\Dk+-fh<=KP}9Hub4?[g>@t

43 r> ?30 8,9,20809? .:884?809? ,9/ 70,/0=>34; 49 ?30 }zv /=4A0 ?: ?30 A4>4-70 /02=00i ?Ygh MfUWh]WYg 7ra|
Dk+DB[6:|IyDB/^+i<HU-^pnmm:t n k@>490>> ,9/\:= <@,74?D 8,9,20809? ;=,.?4.0> ?3,? ,=0 ;=:A09 ?: -0 >@..0>>1@7 -D /08:9>?=,?492 =0>@7?>[
TQf6q>4+k[H S fDByer
44 q,A0 ?30 8,9,20809? /01490/ ?30 =0>;:9>4-474?DY ,@?3:=4?D ,9/ =07,?4:9>34;> ?3,? ,110.? ?30
@f]h]WU` ?ig]bYgg FggiY B7ToD-*9
,/:;?4:9 :1 }zv ;=,.?4.0> 49 ?30 :=2,94>,?4:9i
n j9 :;;:=?@94?D := ;=:-708 ?3,? 4> 60D ?: ?30 :A0=,77 >@..0>> :1 ,9 :=2,94>,?4:9[
DB[^p5m06:|IyDB4z+Y5q6|HyBt
6Of[SQf+z`5Zflpr

45 q,A0 ?30 8,9,20809? ;7,990/ 1:= ?30 ;=:A4>4:9 :1 =0>:@=.0> 49 ?=,49492Y B:=6 >;,.0Y DcU`g Kv
n |?,?0809? :1 B3,? 8@>? -0 ,.340A0/ 7:92Z?0=8 V` ?: bX D0,=>W[ p:,7> ,=0 1=0<@09?7D 0C;=0>>0/ 9@80=4.,77D[
=0.:294?4:9 ,9/ =0B,=/>Y 0?. 1:= 0C0.@?492 }zv 48;70809?,?4:9 ;7,9 ,9/ ;=:2=,880>i
9PFM~\<OBNv|Q=VK-+Tnr-f\x\dKxP5|r
DB[^p5fs^:|IyDB/^hT+33tZq3e/G HlJ4u_ea6+,gt
JYUgifYg IA
46 q,A0 ?30 8,9,20809? ;=0;,=0/ , /:.@809?0/ ;=:.0/@=0 1:= ?30 .:9/@.? :1 8,9,20809? n z@,9?414,-70 /4809>4:9> ,9/ 0A09?> ?: 49/4.,?0 ;=:2=0>> := ;=0/4.? >@..0>> :1 2:,7> ,9/ :-50.?4A0>[ }30
=0A40B> ,9/ 0A,7@,?4:9 :1 ?30 }zv ,/:;?4:9 >?,?@>i >;0.414. ;,=,80?0= ?: -0 @>0/ ?: /0?0=8490 ;=:2=0>> ?:B,=/ ,.340A492 ,9 :-50.?4A0 := , 2:,7[ v0,>@=0>
DB[^p5X044s^DBNXH<Y:|IyD~w+R4G3wt >@;;:=? ?30 4/09?414.,?4:9 ,9/ ,9,7D>4> :1 2,;>[
EG+M1fCKef=/DLf,.-+f-f+Qfrm\tQwK-+f-f+DLhH*+
;drELUQwE@HEs9kr
47 q:B .,9 ?30 49?0=1,.0 -0?B009 /0;,=?809?>\1@9.?4:9> -0 4/09?4140/Y ,9/ 3:B .,9 ?30
491:=8,?4:9 ;,>>492 ,.=:>> ?30 49?0=1,.0 -0 .:9?=:770/i J]gg]cb sz
Aa:IfU9UtLSem\pHd8Ty:|IyDB+uYOQLJa,Qt n j .:8;,9DF> /=4A492 ;@=;:>0 ,9/ >?=,?024. /4=0.?4:9Y 4?> =0,>:9 1:= 0C4>?09.0Y 09.:8;,>>492 4?> .:9?=4-@?4:9
?: ?30 >?=,?024. 49?09?[
48 j=0 ;0=>:9907 ,>>4290/ 49 ?304= 5:->Y -0.,@>0 ?30D 3,A0 ?30 90.0>>,=D >6477>Y 0C;0=409.0 ,9/ w6Dk+CD3OH5EeSBptLG+2Dpkg:5EeU;+\~r
69:B70/20i LV^YWh]jYg K3
h3TWe3e^pDL^-MghT{Sqg>H-ut n +3,? 8@>? -0 ,.340A0/ 49 >@;;:=? :1 ?30 2:,7> ,9/ >?=,?0240> /@=492 ?30 90C? D0,=[
fQVFQwO+-fH5EZvtQ+K-r
49 q:B >3:@7/ ?30 ?=,49492 ;=:2=,880> -0 /0>4290/ 1:= ?30 0C0.@?4A0>Y 84//70 8,9,20809?Y
M`Ub R^
>@;0=A4>:=> ,9/ B:=60=> ?: 800? ?30 900/> :1 }zv 48;70809?,?4:9i
n |?,?0809? :1 ?30 80,9> ?: ,.340A0 :-50.?4A0>[ m:.@809?0/Y ,2=00/ @;:9 ,.?4A4?40> -D B34.3 ?30 2=:@;
^Zz3q8[DBqYDH3z+tZw/LSeXw\^C/^:|IyDB+T1t
:= 49/4A4/@,7 B477 ,..:8;74>3 ?30 :-50.?4A0> B4?349 , >;0.414. ;0=4:/ :1 ?480[
H*=VSvtQ-+9Tnr+Okf.z@UHR4G+dhpGM?AGZtQhx-+r

aZ a[
PY`Z0UggYggaYbh ]gFq
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