Demonstrações Contábeis BRGAAP – 1º Semestre

Demonstrações Contábeis BRGAAP – 1º Semestre

12
3456789
22271
!"#$%&'"2345
"
&%()$"!*$"!+",-$-.-"!/010
67869:;:<=;>?@A999<B?C
D$E-"&1&F-#-!GH"/F!!I-#&"!FJK&L)#M"&NKONNKOOPQR6RSTUVWXY6ZX6WXVSY[6X\]X^_6YX6S7ZS]VZ_6ZX6_`^WV6a_WRVb
t€WXYX7^VR_Y6V6YXƒ`SW6_6‰XTV^‚WS_6ZV6tZRS7SY^WVŠ‡_6ZV64X^WV6B64XWY_7VT6uWVZXW62uwx6 6
€…yTS]_6XR6y_TYV6ZX6~VT_WXY6X[6]_7YXf`X7^XRX7^X[67_6^_^VT6ZX6]_WWX^VƒXR6€_W6XTX6ƒXB ZX6WV]S_7VTS„VŠ‡_6ZX6]`Y^_Y6SR€TXRX7^VZ_6Z`WV7^X6_6V7_6ZX6@9<<6f`X6TX~_`6V6`RV6
{;t;6WXaXWX7^X6V_6<86YXRXY^WX6ZX6@9<@[6ZX6V]_WZ_6]_R6_6f`X6XY^VyXTX]X6_6†V7]_6 WVZ_;64_W6_`^W_6TVZ_[6V6ZXRV7ZV6€_W6€W_Z`^_Y6ZX6]W°ZS^_6XY^W`^`WVZ_6RV7^X~X6Y`V6 WXZ`Š‡_67VY6ZXY€XYVY6ZX6:<[:9Å;6±XY^V6a_WRV[6_6€WX`v„_6_€XWV]S_7VT6ZX6‰•6??96RST6
2X7^WVT6Z_6†WVYST;6lo#"!D$o#!st€‚Y6̀R6€WSRXSW_6^WSRXY^WX6RVW]VZ_6€XTV6ZSYB ^X7Z”7]SV6ZX6]WXY]SRX7^_6z6f`X6V6f`XZV67V6^V\V6YXTS]6V]VyV6ZSWX]S_7V7Z_6_Y6S7~XY^SB WXƒSY^WV7Z_67_6€WSRXSW_6YXRXY^WX6ZX6@9<<6a_S6WX~XW^SZ_6]_R6V6]_WWX^_WV6ƒXWV7Z_6T̀]W_6
^X7Y‡_6Z_6VRySX7^X6X]_7¹RS]_6S7^XW7V]S_7VT6^S~XR_Y6̀R6YXƒ`7Z_6f`VW^ST6Z_6V7_6RVWB Z_WXY6€VWV6]TVYYXY6ZX6V^S~_Y6RX7_Y6^WS~SVSY;63XY^X6YX7^SZ_[6V6XY^WV^°ƒSV6ZV64X^WV62_WB _€XWV]S_7VT6ZX6‰•6==:6RST6X6T̀]W_6Tvf`SZ_6ZX6‰•6½C½6RST;61!m!mn-o!st6€W_à7ZSB
]VZ_6€_W6`R6SR€_W^V7^X6]WXY]SRX7^_6ZV6~_TV^STSZVZX6X6ZV6V~XWY‡_6V6WSY]_67_Y6RXW]VB WX^_WV6ZX6]_7]X7^WVW6XYa_WŠ_Y67V6ZSY^WSy`SŠ‡_6ZX6à7Z_Y6ZX6]W°ZS^_6V]Vy_`6YX6R_Y^WV7B ZVZX6ZV6]WSYX67V6X]_7_RSV6X`W_€XSV6X6V6ZXySTSZVZX6Z_6]WXY]SRX7^_6VRXWS]V7_6Y6`ƒXWXR6
Z_Y;6‹6]X7zWS_6a_S6XY€X]SVTRX7^X6S7aT̀X7]SVZ_6€XT_Y6WXY`T^VZ_Y6ZVY6XTXSŠXY6ƒWXƒVY6 Z_6V]XW^VZV[6ZVZ_6f`X6V6WX]XS^V6ZXY^XY6YXW~SŠ_Y6YXW~S̀6€VWV6€WXX7]UXW6_6XY€VŠ_6 f`X6_6VRySX7^X6X]_7¹RS]_6YXƒ`SWz6RVW]VZ_6€_W6`R6aT̀\_6ZX67_^v]SVY67XƒV^S~_6X6€XTV6
f`X6XTX~VWVR6_6WSY]_6ZX6YVvZV6Z_6€VvY6ZV6Ö_7V6Z_6Q`W_[6€XTV6ZX^XWS_WVŠ‡_6ZV6YS^`VŠ‡_6 ZXS\VZ_6€XTV6WXZ`Š‡_6Z_6~_T̀RX6ZX6]_WWX^VƒXR;6ˆƒ`VTRX7^X6WXTX~V7^XY6a_WVR6_Y6V`YB ~_TV^STSZVZX;63XY^X6YX7^SZ_[6V]WXZS^VR_Y6f`X6_6WX^_W7_6Z_6S7~XY^SZ_W6€XYY_V6avYS]V6€VWV6
aSY]VT6ZX6€VvYXY6]X7^WVSY6Z_6yT_]_6X6€XT_6]WXY]SRX7^_6Z_6WSY]_6YSY^”RS]_67_Y6YX`Y6YSYB ^XY67V6XY^W`^`WV6ZX6]`Y^_Y6ZV64X^WV62_WWX^_WV6€W_R_~SZ_Y6Z`WV7^X6_6V7_6ZX6@9<<[6f`X6 V6y_TYV6ZX6~VT_WXY6YXWz6R`S^_6TX7^_;6{X7Z_6VYYSR[6V6WX]XS^V6ZX6]_WWX^VƒXR6ZX6VŠXY6
^XRVY6yV7]zWS_Y;6t6€XWZV6ZX6W_y`Y^X„67_Y6S7ZS]VZ_WXY6X]_7¹RS]_Y6VRXWS]V7_Y6^VRB €XWRS^SWVR6V6XR€WXYV6V6aX]UVW6_6€WSRXSW_6YXRXY^WX6ZX6@9<@6]_R6T̀]W_Y[6WX~XW^X7Z_6_6 ^X7ZX6V6YXW6RX7_Y6WXTX~V7^X67_6RS\6ZX6WX]XS^VY6ZV64X^WV62_WWX^_WV;64_W6_`^W_6TVZ_[6
y°R6S7^XWaXWS̀67XƒV^S~VRX7^X67_6VRySX7^X;63_6†WVYST[6]_7^S7`VR_Y6V6V]_R€V7UVW6V6 €WX`v„_6Z_6RXYR_6€XWv_Z_6Z_6V7_6V7^XWS_W;6D!)$&"!-Fm"#!s­ž¬¢¦™Àضž·¢ž X7\XWƒVR_Y6]_R_6]WXY]X7^X6V6ZXRV7ZV6€_W6€W_Z`^_Y6ZX6]W°ZS^_6X6€_W6YXW~SŠ_Y6ZX6
ZXYV]XTXWVŠ‡_6ZV6X]_7_RSV[6€`\VZV6€XT_6X7aWVf`X]SRX7^_6ZV6S7Z…Y^WSV;6×6R_ZXWVŠ‡_6 ¦¢¡¢›¨™6B6‰XY€_7ZX7Z_6V_6ZXYXR€X7U_67XƒV^S~_6Z_6RXW]VZ_6V]S_7zWS_[6VY6WX]XS^VY6ZV6 ]_7^VY6ZX6S7~XY^SRX7^_[67S]U_Y67_Y6f`VSY6XY^VR_Y6R`S^_6yXR6€_YS]S_7VZ_Y6XR6~SW^`ZX6
X]_7¹RS]V6VYY_]S_`BYX6^VRy°R6`RV6WXZ`Š‡_6ZV6ZS7ºRS]V6S7aTV]S_7zWSV67_6€VvY[6f`X6 4X^WV62_WWX^_WV6]VvWVR67_6€WSRXSW_6YXRXY^WX6Z_6V7_6XR6WXTVŠ‡_6V_6RXYR_6€XWv_Z_6ZX6 ZX6^_ZVY6VY6YS7XWƒSVY6X7^WX6VY6XR€WXYVY6Z_6ŒW`€_;64_W6XY^V6WV„‡_[6X7^X7ZXR_Y6f`X6V6
VyWS̀6XY€VŠ_6€VWV6f`X6_6†V7]_62X7^WVT6YXƒ`SYYX6]_R6_6R_~SRX7^_6ZX6aTX\SySTS„VŠ‡_6 @9<<;63_6€WSRXSW_6YXRXY^WX6ZX6@9<@[6VY6WX]XS^VY6Y_RVWVR6‰•6½[=>6RSTUXY[6]VS7Z_6
R_7X^zWSV;6‹6VRySX7^X6VZ~XWY_6YXƒ`S̀6VaVY^V7Z_6_Y6S7~XY^SZ_WXY6S7ZS~SZ`VSY6Z_6RXW]VB <<[<½Å6XR6WXTVŠ‡_6V_6~XWSaS]VZ_67_6€WSRXSW_6YXRXY^WX6ZX6@9<<;6Ÿ£ž¦¢£µœ¨™·¶£žª¶ž ]_WWX^_WV6YXƒ`SWz6]_7^WSy`S7Z_6]_R6_6ŒW`€_64X^WV6YXV6€XTV6Y`V6€_YSŠ‡_6XY^WV^°ƒS]V6
Z_6V]S_7zWS_6yWVYSTXSW_[6S7^XWaXWS7Z_67XƒV^S~VRX7^X67_6~_T̀RX67Xƒ_]SVZ_6€_W6XY^X6 ž
¸¢¦´¶·¶6B6Q7^WX^V7^_[6V6f`XZV67V6WX]XS^V[6a_S6RVSY6Z_6f`X6]_R€X7YVZV6€XT_6€W_]XYY_6 YXV6€XT_Y6WXY`T^VZ_Y6€_YS^S~_Y6f`X6^X7ZX6V6YXƒ`SW6ƒXWV7Z_67_Y6€W‚\SR_Y6^WSRXY^WXY;
dF"#!Ge!&"D!)$&"JK&L)#M"&NKONNKOO
c$#G"!-F"#--!JK&L)#M"&NKONNKOOPQR6RSTUVWXY6ZX6WXVSYb
PQR6RSTUVWXY6ZX6WXVSY[6X\]X^_6f`V7Z_6S7ZS]VZ_6ZX6_`^WV6a_WRVb
k"! NKON NKOO
k"! NKON NKOO !!-o"
1-o"
k"!
NKON NKOO
OK0OÊÉ <9;<C½
ON0ÇNN ?;–>– 2SW]`TV7^X
2SW]`TV7^X
ÇÊÈ –C@
OK0OÊÉ <9;<C½ ‰X]XS^VY6ZV6S7^XWRXZSVŠ‡_6aS7V7]XSWV
6±SY€_7SySTSZVZXY
C ONN <?< ‹`^WVY6_yWSƒVŠXY
JÊK @9½
<@ NËN @–: 6‰XY`T^VZ_6ZX6V€TS]VŠXY6S7^XWaS7V7]XSWVY6ZX6TSf`SZX„
t€TS]VŠXY6S7^XWaS7V7]XSWVY6ZX6TSf`SZX„
½ J0ÈÉÈ :;@9@ 6—SY]VSY6X6€WX~SZX7]SzWSVY
– É0ÇÉÊ ?;<½= 6‰XY`T^VZ_6ZX6_€XWVŠXY6]_R6^v^`T_Y6X
6‹€XWVŠ‡_6]_R€W_RSYYVZV
J0ÈÉÈ :;@9@ 63Xƒ_]SVŠ‡_6ZX6S7^XWRXZSVŠ‡_6ZX6~VT_WXY
OKÈ >:=
? ÇJÉ =9½ 66~VT_WXY6R_ySTSzWS_Y
uv^`T_Y6X6~VT_WXY6R_ySTSzWS_Y
> Ç0OKK :;:?= 6±S~XWYVY
ÇÊÈ –C@
<: J0KJJ @;½–@ ‰XY`T^VZ_6yW`^_6ZV6S7^XWRXZSVŠ‡_6aS7V7]XSWV
62VW^XSWV6€W‚€WSV
J0NÈÇ C>< 4V^WSR¹7S_6Tvf`SZ_
NÊÐ P<;–:@b
Ë0ÉJK :;?:9 ‹`^WVY6WX]XS^VYAPZXY€XYVYb6_€XWV]S_7VSY
6wS7]`TVZ_Y6’6€WXY^VŠ‡_6ZX6ƒVWV7^SV
ÊJÈ @;?:> 62V€S^VT6ZX6Z_RS]STSVZ_Y67_6€VvY
<C Ë0NÐË ½;>C@
ËÉ <: 6‰X]XS^VY6ZX6€WXY^VŠ‡_6ZX6YXW~SŠ_Y
Ç0ÇKO :;9@C 6‰XYXW~VY6ZX6]V€S^VT
‹`^W_Y6]W°ZS^_Y
ÓO0KÐN‘ P@;>9@b
Óȑ : 6±XY€XYVY6ZX6€XYY_VT
6‰X7ZVY6V6WX]XyXW
= ÐÐJ <;:?? 6t`Y^XY6V6~VT_W6ZX6RXW]VZ_6B6uwx6X6ZXWS~V^S~_Y
<½ ÓJ0ÇÊK‘ PC;@>:b
ÓN0ÉËK‘P<;:>Cb 6‹`^WVY6ZXY€XYVY6VZRS7SY^WV^S~VY
63Xƒ_]SVŠ‡_6ZX6S7^XWRXZSVŠ‡_6ZX6~VT_WXY
– N0ÉNÇ –?< 64WX`v„_Y6V]`R`TVZ_Y
ÓËÇʑ P>9:b
OJ0NNN <@;=@= 6±XY€XYVY6^WSy`^zWSVY
6±S~XWY_Y
? ÐKÇ =:C u_^VT
<9
OJÉ
C
OKJ ½C 1!#"!gm$-n-o!!H"m-#q#&!&F"#!Ge!r-##n-! 6‰XY`T^VZ_6ZX6€VW^S]S€VŠXY6XR6]_TSƒVZVY
‹`^W_Y6~VT_WXY6X6yX7Y
6‹`^WVY6WX]XS^VY6_€XWV]S_7VSY
NK
<C
6±XY€XYVY6V7^X]S€VZVY
OKJ ½C
d
F"#!
G
e
!
&
!
+)
G
e
!
&"
Fh#"
i(
j)&"
6‹`^WVY6ZXY€XYVY6_€XWV]S_7VSY
<>
ÓÇБ P@Cb
É @;@@@
‰XVTS„z~XT6V6T_7ƒ_6€WV„_
J
K
&
L
)#M"
&
N
K
O
N
N
K
O
O
P
QR6
RS
T
U
V
W
X
Y
6
Z
X
6
W
X
V
S
Y
b
ÐÐJ P??9b
‰XY`T^VZ_6_€XWV]S_7VT
É @;@@@
‹`^W_Y6]W°ZS^_Y
1Î)!"
ÓÈN‘
C
‰XY`T^VZ_67‡_6_€XWV]S_7VT
6±S~XWY_Y
? É @;@@@
o$"&
ÐOO P?–>b
‰X
Y
`
T
^
V
Z
_
6
V
7
^
X
Y
6
Z
V
6
^
W
S
y
`
^
V
Š
‡
_
6
Y
_
y
W
X
6
_
6
W
X
Y
`
T
^
V
Z
_
ÐÉO >:=
4XWRV7X7^X
D! Fn&"Î)(
Ó
O
È
È
‘
:
?
>
ˆ
R€
_
Y
^
_
6
Z
X
6
W
X
7
Z
V
6
X
6
]
_
7
^
W
S
y
`
S
Š
‡
_
6
Y
_
]
S
V
T
<
=
ˆ7~XY^SRX7^_Y
<9 NÊÉ ½:
o!&()$"! Ì"!
6ˆR€_Y^_6ZX6WX7ZV6X6]_7^WSy`SŠ‡_6Y_]SVT6B62_WWX7^XY
ÓOÈȑ
Ñ
6uv^`T_Y6€V^WSR_7SVSY
OKK ½:
'm-$ & o$"!n)F)
Ò :?>
ˆR€_Y^_6ZX6WX7ZV6X6]_7^WSy`SŠ‡_6Y_]SVT6B6±SaXWSZ_Y
64VW^S]S€VŠ‡_6XR6]_TSƒVZV
OÊÉ Ñ
k"! !"n-$nm-$F",-$-.-"! $&"! %"$ 6
ËÇË P½?9b
`]W_6P€WX`v„_b6Z_6YXRXY^WX
ˆR_ySTS„VZ_6ZX6̀Y_
<< ÇÉÇ ½=C
386ZX6VŠXY
Ë0ÉJK0KKK:;?:9;999
6‹`^WVY6SR_ySTS„VŠXY6ZX6̀Y_
ÈNJ >C½ TZ_Y6XR6:<6ZX6ZX„XRyW_
W_6P€WX`v„_b6€_W6VŠ‡_6PXR6‰•b
KÏKÉOÉKËËÐ P9[<½9<b
6P±X€WX]SVŠXY6V]`R`TVZVYb
ÓONɑ P=<b {V
6ZX6@9<9
:;?:9 <@
<9– P==Cb:;@=> `]1!
#"!gm$-n-o!!H"m-#q#&!&F"#!Ge!r-##n-!
Ê <9 t^
ˆ7^V7ƒv~XT
`
V
T
S
„
V
Š
‡
_
6
^
v
^
`
T
_
6
€
V
^
W
S
R_
7
S
V
T
Ñ
<
Ñ
Ñ
<
6t^S~_Y6S7^V7ƒv~XSY
ON <@ `Y^X6V_6~VT_W6ZX6RXW]VZ_6B6
dF"#!Ge!&"!I$)g"!&'-g
ÓǑ P@b t
6PtR_W^S„VŠXY6V]`R`TVZVYb
L)#M"&NKONNKOOPQR6RSTUVWXY6ZX6WXVSYb
uv^`T_Y6X6~VT_WXY6R_ySTSzWS_Y
Ñ Ñ
P<9½b Ñ P<9½b t^S~SZVZXY6_€XWVJ]KS_7&
OJ0NNN<@;=@= 6
u_^VT
NKON NKOO
VSY
Ñ
Ñ
Ñ
P
½
?
9
b
P
½
?
9
b
4W
X

`
v
„
_
6
Z
_
6
Y
X
RX
Y
^
W
X
1!#"!gm$-n-o!!H"m-#q#&!&F"#!Ge!r-##n-! {VTZ_Y6XR6:96ZX6`7U_6ZX6@9<<
ËÇË P½?9b
`]W_6P€WX`v„_b6Z_6YXRXY^WX
J0ÉJK OJ
J ÓO0JÈǑN0ËÊN t
ÓJɑ P:>Cb
`Y^XY6V_6€WX`v„_6Z_6YXRXY^WX
k"!lgm$-n-o!p!dF"#!Ge!I-##n-!
{V
T
Z
_
Y
6
X
R6
:
<
6
Z
X
6
Z
X
„
X
Ry
W
_
6
±X
€
W
X
]
S
V
Š

X
Y
6
X
6
V
R_
W
^
S
„
V
Š

X
Y
JÊ :@
JK&L)#M"&NKONNKOOPQR6RSTUVWXY6ZX6WXVSYb
6ZX6@9<<
Ë0ÉJK ËÈ
ÓOʑ ÓJ0ÇÉˑN0ÇÐJ 6‰XY`T^VZ_6ZX6€VW^S]S€VŠ‡_6XR6]_TSƒVZV
ÓOJɑ Ñ
Ò J
Ò
Ò J 62_7Y^S^`SŠ‡_6ZX6]W°ZS^_6^WSy`^zWS_
O0'"#g""mn-"#$st64X^WV6B64XWY_7VT6uWVZXW62_WWX^_WV6ZX6uv^`T_Y6X6wVT_WXY6 t^`VTS„VŠ‡_6^v^`T_6€V^WSR_7SVT
Ò P:?>b
x_ySTSzWS_Y6{;t;6P|2_WWX^_WV}b6a_S6]_7Y^S^`vZV6XR6<C6ZX6VyWST6ZX6<???6X6S7S]S_`6Y`VY6V^S~SB t`Y^X6V_6~VT_W6ZX6RXW]VZ_6B6
4WX`v„_67V6VTSX7VŠ‡_6ZX6yX7Y
ÈN Ñ
Ò Ò
ON
Ò ON 6
ZVZXY6XR6`TU_6ZX6<???;6t62_WWX^_WV6^XR6€_W6_yX^_6Y_]SVT6X7^WX6_`^WVY6V^S~SZVZXY6 6uv^`T_Y6X6~VT_WXY6R_ySTSzWS_Y
ÓN0ÊÇˑ ?@
wVWSVŠXY6XR6V^S~_Y6X6€VYYS~_Y
Ò Ò
Ò ËÇË ËÇË 6
]_R€WVW6X6~X7ZXW6^v^`T_Y6X6~VT_WXY6R_ySTSzWS_Y[6€_W6]_7^V6€W‚€WSV6_`6ZX6^XW]XSW_Y[6S7Y^SB `]W_6Tvf`SZ_6Z_6YXRXY^WX
RX7^_AWXZ`Š‡_6XR6^v^`T_Y6X6~VT_WXY6R_ySTSzWS_Y
ÓJ0NÇɑ @½:
Ë0ÉJK ËÉ
Óȑ ÓN0ÉËK‘J0KJJ t`
^`SW[6_WƒV7S„VW6X6VZRS7SY^WVW6à7Z_Y6R…^`_Y6X6]T̀yXY6ZX6S7~XY^SRX7^_Y6X6X\XW]XW6_`^WVY6 {VTZ_Y6XR6:96ZX6`7U_6ZX6@9<@
t`RX7^_AWXZ`Š‡_6XR6_`^W_Y6]W°ZS^_Y
ÓËJБ @;9@<
V^S~SZVZXY6X\€WXYYVRX7^X6V`^_WS„VZVY6€XT_6†V7]_62X7^WVT6Z_6†WVYST6B6†t2Q36XA_`6€XTV6 1!#"!gm$-n-o!!H"m-#q#&!&F"#!Ge!r-##n-! 6
t`RX7^_6XR6_`^W_Y6~VT_WXY6X6yX7Y
ÓÐˑ P:9b
2_RSYY‡_6ZX6wVT_WXY6x_ySTSzWS_Y6B62wx;6ˆ6B6‰XXY^W`^`WVŠ‡_6Y_]SX^zWSV6‹6ŒW`€_64X^WV6 ZXY^V]VZV6Z_6€V^WSR¹7S_6Tvf`SZ_[6ZXZ`„SZ_6Z_Y6XaXS^_Y6^WSy`^zWS_Y;6Zb6±XRVSY6V^S~_Y6 6
6
t`
RX
7
^
_
6
X
R6
X
R€
W
°
Y
^
S
R_
Y
6
X
6
a
S
7
V
7
]
S
V
RX
7
^
_
Y
Ò P½@b
a_WRVZ_6€XTV62_WWX^_WV[6€XT_6†V7]_64X^WV6{;t;6P|†V7]_}b[6€XTV64X^WV6tYYX^6ŒXY^‡_6ZX6 ]SW]`TV7^XY6X6WXVTS„z~XSY6V6T_7ƒ_6€WV„_6P7‡_6]SW]`TV7^XYb6±XR_7Y^WVZ_Y6€XT_Y6~VT_WXY6 6t`RX7^_AWXZ`Š‡_6XR6_`^WVY6_yWSƒVŠXY
ÊËKP@;<99b
ˆ7~XY^SRX7^_6^ZV;6P|tYYX^}b6X6€XTV6Ž_TZS7ƒ64X^WV6{;t;6P|Ž_TZS7ƒ}b[6V€XYVW6Z_6]_7^W_TX6 ZX6WXVTS„VŠ‡_[6S7]T̀S7Z_[6f`V7Z_6V€TS]z~XT[6_Y6WX7ZSRX7^_Y6X6VY6~VWSVŠXY6R_7X^zWSVY6 6ˆR€_Y^_6ZX6WX7ZV6X6]_7^WSy`SŠ‡_6Y_]SVT6€Vƒ_Y
O
È
È Ñ
Y_]SX^zWS_6ZX6]VZV6Y_]SXZVZX6YXW6ZSY^S7^_[6_€XWV~VR6Y_y6V6RXYRV6RVW]V6|4X^WV}6X6 €W_6WV^V6ZSV6S7]_WWSZ_Y[6ZXZ`„SZ_Y6ZVY6]_WWXY€_7ZX7^XY6€W_~SYXY6€VWV6€XWZVY6_`6V`YB 2VS\V6Tvf`SZ_6V€TS]VZ_6XR6V^S~SZVZXY6_€XWV]S_7VSY
ÓN0JJɑ P–>@b
VZRS7SY^WVŠ‡_6]_R`R;64_W6XYYX6R_^S~_[6_Y6V]S_7SY^VY6ZVY6WXaXWSZVY6XR€WXYVY6XTVy_WVB ^X6V_6~VT_W6ZX6RXW]VZ_6X6WX7ZVY6V6V€W_€WSVW;6Xb6ˆ7~XY^SRX7^_Y6QY^‡_6ZXR_7Y^WVZ_Y6V_6 6t^S~SZVZXY6ZX6S7~XY^SRX7^_
WVR6`R6€TV7_6ZX6WXXY^W`^`WVŠ‡_6Y_]SX^zWSV6]_R6_6_yX^S~_6ZX6f`X6_Y6Y‚]S_Y6]_R€VW^SB ]`Y^_6ZX6Vf`SYSŠ‡_[6YX7Z_6f`X6_Y6S7~XY^SRX7^_Y6XR6]_TSƒVZVY6XY^‡_6V`Y^VZ_Y6€_W6 6tTSX7VŠ‡_AVf`SYSŠ‡_6ZX6S7~XY^SRX7^_
ÓËK‘ ½<
TUVYYXR6_6]_7^W_TX6ZX6^_ZVY6VY6XR€WXYVY6Z_6ŒW`€_;6t6WXXY^W`^`WVŠ‡_6Y_]SX^zWSV6]_RB V~VTSVŠ‡_6€XT_6R°^_Z_6ZV6Xf`S~VT”7]SV6€V^WSR_7SVT;6ab63Xƒ_]SVŠ‡_6X6S7^XWRXZSVŠ‡_6ZX6 6tTSX7VŠ‡_6Z_6S7^V7ƒv~XT
Ò C@?
€WXX7ZX`6_Y6YXƒ`S7^XY6X~X7^_Y6PSb64XWR`^V6X6VŠXY6ZV6Ž_TZS7ƒ6€_W6f`_^VY6ZV6tYYX^6 ~VT_WXY6‰XƒSY^WVRBYX6_Y6]W°ZS^_Y6ZX]_WWX7^XY6ZVY6WXTVŠXY6]_R6_6RXW]VZ_6PYSY^XRV6X6 tf`SYSŠ‡_AVTSX7VŠ‡_6ZX6SR_ySTS„VZ_6ZX6̀Y_
OÊ P>>b
PSSb6ˆ7]_W€_WVŠ‡_6ZX6VŠXY6ZV62_WWX^_WV6€XTV6Ž_TZS7ƒ6X6PSSSb6ˆ7]_W€_WVŠ‡_6ZX6VŠXY6ZV6 ]TSX7^XYb6WXTV^S~VRX7^X6’67Xƒ_]SVŠ‡_6ZX6~VT_WXY6P^v^`T_Y[6VŠXY[6RXW]VZ_WSVY6X6V^S~_Y6 6t€TS]VŠ‡_67_6S7^V7ƒv~XT
Ò P<9b
2_WWX^_WV6€XT_6†V7]_[6X6^XR6]_R_6€WS7]S€VSY6`Y^SaS]V^S~VY6_Y6YXƒ`S7^XY6VY€X]^_Y6 aS7V7]XSW_Yb6€_W6]_7^V6€W‚€WSV6X6€_W6]_7^V6ZX6^XW]XSW_Y;6ƒb64XWRV7X7^X6ƒ;<;b6ˆR_ySTS„VB 2VS\V6Tvf`SZ_6_WSƒS7VZ_6PV€TS]VZ_b6XR6V^S~SZVZXY6ZX6S7~XY^SRX7^_
ÓJN‘ C9C
‘6xVS_W6]V€V]SZVZX6ZX6ƒXWVŠ‡_6ZX6WXY`T^VZ_6ZX~SZ_6’6_^SRS„VŠ‡_6X6]_R€VW^STUVRX7^_6 Z_6ZX6̀Y_6‹6SR_ySTS„VZ_6XY^z6WXƒSY^WVZ_6V_6]`Y^_6ZX6Vf`SYSŠ‡_;6t6ZX€WX]SVŠ‡_6°6]VT]`B ‰XZ`Š‡_6ZX6]VS\V6X6Xf`S~VTX7^XY6ZX6]VS\V
ÓN0JÐO‘ PC½–b
Z_Y6WX]`WY_Y6,‘xXTU_WSV67V6€WX]SaS]VŠ‡_6Z_Y6€W_Z`^_Y6X6YXW~SŠ_Y6ZSY€_7SySTS„VZ_Y6 TVZV6€XT_6R°^_Z_6TS7XVW6TX~V7Z_6XR6]_7YSZXWVŠ‡_6V6~SZV6…^ST6Z_Y6yX7Y[6RXZSV7^X6V6 62VS\V6X6Xf`S~VTX7^XY6ZX6]VS\V67_6S7v]S_6Z_6YXRXY^WX
È0OÊÉ :;–½<
€XTVY6XR€WXYVY6Z_6ŒW`€_6XR6à7Š‡_6Z_6a_W7X]SRX7^_6S7^XƒWVZ_6Z_Y6YXW~SŠ_Y6X6€W_Z`B V€TS]VŠ‡_6ZVY6^V\VY6V7`VSY6S7a_WRVZVY67V63_^V6<<;6ƒ;@;b6ˆ7^V7ƒv~XT6‹6V^S~_6S7^V7ƒv~XT6 62VS\V6X6Xf`S~VTX7^XY6ZX6]VS\V67_6aS7VT6Z_6YXRXY^WX
J0ÊOÊ :;:?:
^_Y[6]_7]X7^WVŠ‡_6ZVY6V^S~SZVZXY6ZX6VZRS7SY^WVŠ‡_6ZX6WSY]_[6`RV6~X„6f`X6^_ZVY6VY6 °6]_R€_Y^_6€_W6V^S~_Y67‡_6R_7X^zWS_Y6SZX7^SaS]z~XSY6YXR6Y`yY^º7]SV6avYS]V;6‹Y6~VT_WXY6 ‰XZ`Š‡_6ZX6]VS\V6X6Xf`S~VTX7^XY6ZX6]VS\V
ÓN0JÐO‘ PC½–b
XR€WXYVY6z6V^`VR6Y_y6V6RXYRV6RVW]V6X6VZRS7SY^WVŠ‡_6]_R`R[6]_R€VW^STUV7Z_6XYB WXƒSY^WVZ_Y6]_R_6V^S~_6S7^V7ƒv~XT6Y‡_6WXTV^S~_Y6V6ˆ;6{_a^»VWXY[6YX7Z_6f`X6V62_WWX^_WV6 1!#"!gm$-n-o!!H"m-#q#&!&F"#!Ge!r-##n-!
^W`^`WVY6_€XWV]S_7VSY6X6n‘6‰XZ`Š‡_6ZX6]`Y^_Y6ZX6à7]S_7VRX7^_6ZVY6zWXVY6]_W€_WV^SB SWz6_y^XW6yX7Xav]S_Y6ZXYYXY6Y_a^»VWXY6XR6V^°6]S7]_6V7_Y6X6ˆˆ;6¼ƒS_6V€`WVZ_67V6Vf`SYSB Vb6uv^`T_Y6ZSY€_7v~XSY6€VWV6V6~X7ZV
~VY6ZX6Y`€_W^X6P‰Ž[6xVW“X^S7ƒ[6uX]7_T_ƒSV[65`WvZS]_6X6_`^WVYb;6‹Y6Y‚]S_Y6WX]XyXWVR6 Š‡_6ZV6]VW^XSWV6ZX6]TSX7^XY6ZV6—SXWX6ŒXY^‡_6ZX6‰X]`WY_Y6ZX6uXW]XSW_Y6^ZV;[6_6f`VT6°6
NKON
NKOO
WXY€_Y^V6€_YS^S~V6Z_6†V7]_62X7^WVT6XR6<>6ZX6Vƒ_Y^_6ZX6@9<<6]_R6WXTVŠ‡_6V_6€TV7_6ZX6 V7VTSYVZ_6V6~VT_W6WX]`€XWz~XT6V7`VTRX7^X;6Ub64VYYS~_6]SW]`TV7^X6X6X\Sƒv~XT6V6T_7ƒ_6
1Î)!
1Î)!
WXXY^W`^`WVŠ‡_6Y_]SX^zWSV6€W_^_]_TS„VZ_67_6ZSV69<6ZX6aX~XWXSW_6ZX6@9<<;62_R6SYY_[6Y`yB €WV„_6±XR_7Y^WVZ_Y6€_W6~VT_WXY6]_7UX]SZ_Y6_`6]VT]`Tz~XSY[6S7]T̀S7Z_[6f`V7Z_6V€TS]zB
n)F)$&"
n)F)$&"
RX^XWVR6_Y6Z_]`RX7^_Y6X6S7a_WRVŠXY67X]XYYzWS_Y6’6S7Y^W`Š‡_6Z_6€W_]XYY_[6XR6XYB ~XT[6_Y6X7]VWƒ_Y6X6VY6~VWSVŠXY6R_7X^zWSVY6S7]_WWSZVY6|€W_BWV^VB^XR€_WSY};6Sb64W_~SY‡_6
/
F
#"
m
Fh#"
#"
m
Fh#-"
€X]SVT6_Y6V^_Y6Y_]SX^zWS_Y6WXTV^S~_Y6’6VT^XWVŠ‡_6ZX6]_7^W_TX6V]S_7zWS_6XR6]_RX7^_;6 €VWV6WSY]_6]v~XT[6aSY]VT6X6^WVyVTUSY^V6‹6WX]_7UX]SRX7^_[6V6RX7Y`WVŠ‡_6X6V6ZS~`TƒVŠ‡_6
o# *$" $(j)-&"Ï *$" $(j)-&"Ï
2_R_6WXY`T^VZ_6ZXY^V6]_7Y_TSZVŠ‡_[6V62_WWX^_WV6YX6^_W7_`6̀RV6Y`yYSZSzWSV6S7^XƒWVT6Z_6 Z_Y6V^S~_Y6X6€VYYS~_Y6]_7^S7ƒX7^XY[6X6_yWSƒVŠXY6TXƒVSY6Y‡_6XaX^`VZVY6ZX6V]_WZ_6]_R6
& $(j)-&"&"! & $(j)-&"&"!
n-F#"
†V7]_;62_R6_6_yX^S~_6ZX6SRXZSV^_6X7f`VZWVRX7^_6ZVY6S7Y^S^`SŠXY6Y_y6]_7^W_TX6V]S_B _Y6]WS^°WS_Y6ZXaS7SZ_Y67V6‰XY_T̀Š‡_6786:;–@:A9?[6Z_62_7YXTU_6x_7X^zWS_63V]S_7VT6f`X6
1mE!
F
F
Í
r
"!
r-"!
7zWS_67_Y6TSRS^XY6_€XWV]S_7VSY[6_Y6V]S_7SY^VY6]_7^W_TVZ_WXY6Z_6†V7]_6X6ZV62_WWX^_WV6 V€W_~V6_64W_7`7]SVRX7^_6u°]7S]_6786@½6Z_62_RS^”6ZX64W_7`7]SVRX7^_Y62_7^zyXSY6B6 %()$"
O#" O#" n&" -,).-"! n&" -,).-"!
ZX]SZSWVR6VS7ZV6WXVTS„VW[67_6R”Y6ZX6YX^XRyW_6ZX6@9<<[6̀R6V`RX7^_6ZX6]V€S^VT67_6~VT_W6 242[6_yXZX]X7Z_6V_Y6YXƒ`S7^XY6]WS^°WS_Y6S;<;b6­¨›§¶£ž¡¶ª¨›ª¬¢ª¢̈£¾ž3‡_6Y‡_6WX]_7UXB 2VW^XSWV6€W‚€WSV
OÐJ0NÇÐJ0NÈÇ
É C><
Ñ
ZX6‰•@;999[6]_7]_RS^V7^XRX7^X[6X67_Y6RXYR_Y6X~X7^_Y6Y_]SX^zWS_Y6f`X6ZSY€`YXWVR6 ]SZ_Y6]_7^VySTRX7^X[6X\]X^_6f`V7Z_6Uz6ƒVWV7^SVY6WXVSY6_`6ZX]SYXY6`ZS]SVSY6aV~_WzB 62±†
OË Ò OË
Ò C½–
Ñ
Y_yWX6V6WX_WƒV7S„VŠ‡_6RX7]S_7VZV;6‹Y6Z_]`RX7^_Y6Y_]SX^zWS_Y6a_WVR6V€W_~VZ_Y6XR6 ~XSY[6Y_yWX6VY6f`VSY67‡_6]VyXR6RVSY6WX]`WY_Y[6]VWV]^XWS„V7Z_6_6ƒV7U_6]_R_6 62
N Ò N
Ò :
Ñ
ZXaS7S^S~_6€XT_6†V7]_62X7^WVT6XR6@–6ZX6RVWŠ_6ZX6@9<@;6ˆˆ6B6‰XZSWX]S_7VRX7^_6Z_Y67XB €WV^S]VRX7^X6]XW^_;6‹Y6V^S~_Y6]_7^S7ƒX7^XY6]_R6€W_yVySTSZVZX6ZX6”\S^_6€W_~z~XT[6f`V7B 6—u
ÒJ0NÇÐJ0NÇÐ
É Ñ
Ñ
ƒ‚]S_Y6QR6@9<<[6V62_WWX^_WV6WXZSWX]S_7_`6YX`Y67Xƒ‚]S_Y[6WXZ`„S7Z_6Y`yY^V7]SVTRX7^X6 Z_6X\SY^X7^XY[6Y‡_6V€X7VY6ZS~`TƒVZ_Y67VY6ZXR_7Y^WVŠXY6aS7V7]XSWVY;6S;@;b6¥™££›§¶£ž wS7];6€WXY^;6ƒVWV7^SVY ÊJÈ Ò ÊJÈ
ÓOˑ @;?:>
:
_6V^X7ZSRX7^_6ZX6]TSX7^XY6ZX6~VWX_6X6ZSWX]S_7V7Z_6V6Y`V6V^`VŠ‡_6€VWV6]TSX7^XY6ZX6 ¡¶ª¨›ª¬¢ª¢̈£¾ž{‡_6WX]_7UX]SZ_Y6]_7^VySTRX7^X6]_R6yVYX67V67V^`WX„V[6]_R€TX\SZVZX6X6 62±†6PVb
ÈÇO Ò ÈÇO
Ò ½?<
Ñ
RVS_W6€_W^X6]_R_6—`7Z_Y6ZX64X7Y‡_[6˜™š›œžŸ ›¡¢£¤ž¥¦›§™¢̈ž©™ª«›ª¬¤ž­££¢¨ž®™ª™¯ USY^‚WS]_6ZVY6VŠXY6X67V6_€S7S‡_6Z_Y6VYYXYY_WXY6`WvZS]_Y6S7^XW7_Y6X6X\^XW7_Y6f`V7Z_6 6—u6Pyb
Ò Ò Ò
Ò @;<@@
:
¬¢¦£6X6_`^W_Y;62_R_6€VW^X6ZXYYX6WXZSWX]S_7VRX7^_6XY^WV^°ƒS]_[6RXZSZVY6ZX6VZXf`VŠ‡_6 _6WSY]_6ZX6€XWZV6ZV6VŠ‡_6`ZS]SVT6a_W6V~VTSVZ_6]_R_6€W_~z~XT6X6_Y6R_7^V7^XY6X7~_T~SZ_Y6 6tŠXY6PVb6X6P]b
OÉË Ò OÉË
ÓOˑ @@:
Ñ
ZV6XY^W`^`WV6a_WVR6SR€TXRX7^VZVY6XR6@9<<[6_6f`X6WXY`T^_`6XR6̀RV6WXZ`Š‡_6YSƒ7SaS]VB a_WXR6RX7Y`Wz~XSY6]_R6Y`aS]SX7^X6YXƒ`WV7ŠV;6S;:;b6Ÿ¿¦›¬™ÀÁ¢£žœ¢¬™›£žÂ ›£¡™›£ž¢ž¸¦¢§›¯ u_^VT
ÊËJJ0NÇÐÇ0OKK
Óȑ :;:?=
:
^S~V6Z_Y6]`Y^_Y6WXTV]S_7VZ_Y6V_6RXW]VZ_6ZX6~VWX_;6±_6€_7^_6ZX6~SY^V6ZVY6WX]XS^VY[6 ·¢ª¡›Ã¦›™£Ä¾ž4W_]XYY_Y6`ZS]SVSY6X6VZRS7SY^WV^S~_Y6WXTV]S_7VZ_Y6V6_yWSƒVŠXY6^WSy`^zWSVY6 PVb6‹6†V7]_64V`TSY^V6°6_6yV7]_6TSf`SZV7^X6ZVY6_€XWVŠXY6ZX6†_TYV6ZV62_WWX^_WV6X[6
7_~_67Xƒ‚]S_6]_R6RVS_W6~_T̀RX6X6~VT_W6VƒWXƒVZ_6^XR6^WV„SZ_6WX]XS^VY6YSƒ7SaS]V^S~VY[6_6 X6€WX~SZX7]SzWSVY[6]`_6_yX^_6ZX6]_7^XY^VŠ‡_6°6Y`V6TXƒVTSZVZX6_`6]_7Y^S^`]S_7VTSZVZX[6 ]_R_6ƒVWV7^SV[6V62_WWX^_WV6RV7^°R6`R6YVTZ_6ZX6‰•>C<6XR62±†6P‰•½?<6XR6@9<<b6
f`X6aX„6]_R6f`X6V62_WWX^_WV[6f`X6Y_aWX`6€WX`v„_67_6V7_6ZX6@9<96X6^VRy°R67_6<86YXB f`X6S7ZX€X7ZX7^X6ZV6V~VTSVŠ‡_6V]XW]V6ZV6€W_yVySTSZVZX6ZX6Y`]XYY_[6^XR6_Y6YX`Y6R_7B 7XYYV6S7Y^S^`SŠ‡_;64VWV6WXVTS„VW6_€XWVŠXY6`7^_6’62†2[6V62_WWX^_WV6RV7^°R6‰•<?½6
RXY^WX6ZX6@9<<[6_y^S~XYYX6T̀]W_6_€XWV]S_7VT6z67_6@86YXRXY^WX6ZX6@9<<[6S7~XW^X7Z_6V6 ^V7^XY6WX]_7UX]SZ_Y6S7^XƒWVTRX7^X67VY6ZXR_7Y^WVŠXY6aS7V7]XSWVY;6b64W_~SYXY6€VWV6 P‰•@@:6XR6@9<<b6XR6VŠXY6]`Y^_ZSVZVY67_6†WVZXY]_6]_R_6ƒVWV7^SV;6QR6@9<9[6_6
TS7UV6ZX6^X7Z”7]SV6Z_Y6WXY`T^VZ_Y[6ZX6V]_WZ_6]_R6V6XY€X]^V^S~V6ZX6YX`Y6V]S_7SY^VY6X6 SR€_Y^_6ZX6WX7ZV6X6]_7^WSy`SŠ‡_6Y_]SVT6t6€W_~SY‡_6€VWV6SR€_Y^_6ZX6WX7ZV6a_S6]_7Y^S^`vB †V7]_64X^WV[6XR€WXYV6€VW^S]S€V7^X6Z_6]_7ƒT_RXWVZ_6X]_7¹RS]_6aS7V7]XSW_6Z_6ŒW`€_6
VZRS7SY^WVZ_WXY;6QYYV6TS7UV6€XWRV7X]X`6€VWV6_6<86YXRXY^WX6ZX6@9<@;6N0c!& ZV6’6WV„‡_6ZX6<½Å6Y_yWX6_6T̀]W_6WXVT[6V]WXY]SZ_6ZX6VZS]S_7VT6ZX6<9Å6Y_yWX6V6€VW^X6 4X^WV[6XaX^`_`6V6~S7]`TVŠ‡_6ZX6^v^`T_Y6€…yTS]_Y6aXZXWVSY6P—uYb6€XW^X7]X7^XY6’62_WWX^_B
mmGH"m!#GH"&!&F"#!Ge!r-##n-!stY6ZXR_7Y^WVŠXY6 ZXYYX6T̀]W_6f`X6X\]XZX`6V6‰•<@967_6YXRXY^WX;6t6]_7^WSy`SŠ‡_6Y_]SVT6°6]VT]`TVZV6Y_yWX6 WV[67_6~VT_W6ZX6‰•@;<@@[6€VWV6WXX7f`VZWVRX7^_67_Y6€VZWXY6Rv7SR_Y6ZX6]V€S^VT6X67_Y6
aS7V7]XSWVY6a_WVR6XTVy_WVZVY6ZX6V]_WZ_6]_R6VY6€Wz^S]VY6]_7^zyXSY6VZ_^VZVY67_6†WVYST[6 _6T̀]W_6Tvf`SZ_6V7^XY6Z_6SR€_Y^_6ZX6WX7ZV[6’6VTvf`_^V6ZX6<½Å;6“b6‰XZ`Š‡_6Z_6~VT_W6WXB TSRS^XY6_€XWV]S_7VSY6]_7a_WRX6ZX^XWRS7VŠXY6]_7Y^V7^XY67V6‰XY_T̀Š‡_6†t2Q36
_yYXW~V7Z_BYX6VY6ZSWX^WS„XY6]_7^zyXSY6XY^VyXTX]SZVY6€XT_6†V7]_62X7^WVT6Z_6†WVYST6B6 ]`€XWz~XT6Z_Y6V^S~_Y67‡_6aS7V7]XSW_Y6P|SR€VSWRX7^}b6²6WX]_7UX]SZV6]_R_6€XWZV[6f`V7B 786@>9=;63_6@86YXRXY^WX6ZX6@9<<[6_Y6^v^`T_Y6a_WVR6ZXY~S7]`TVZ_Y;6Pyb6‹6~VT_W6ZX6RXWB
VZ_6Z_Y6^v^`T_Y6€…yTS]_Y6aXZXWVSY6°6_y^SZ_6V^WV~°Y6ZV6`^STS„VŠ‡_6ZX6€WXŠ_Y6ZS~`TƒVZ_Y6
†t2Q3[62_7YXTU_6x_7X^zWS_63V]S_7VT6B62x3[6]_7Y`yY^V7]SVZVY67_64TV7_62_7^zyST6 Z_6_6~VT_W6ZX6̀R6V^S~_6_`6ZX6̀RV6̀7SZVZX6ƒXWVZ_WV6ZX6]VS\V6WXƒSY^WVZ_6]_7^VySTRX7^X6 ]
XTV6tYY_]SVŠ‡_6†WVYSTXSWV6ZVY6Q7^SZVZXY6Z_Y6xXW]VZ_Y6—S7V7]XSW_6X6ZX62V€S^VSY6
ZVY6ˆ7Y^S^`SŠXY6Z_6{SY^XRV6—S7V7]XSW_63V]S_7VT6B62‹{ˆ—6X6_Y67_~_Y6€W_7`7]SVRX7^_Y[6 a_W6RVS_W6Z_6f`X6_6YX`6~VT_W6WX]`€XWz~XT6_`6ZX6WXVTS„VŠ‡_;6ÆRV6̀7SZVZX6ƒXWVZ_WV6ZX6 €
t
63†ˆxtb;6P]b6‹6~VT_W6ZX6RXW]VZ_6ZVY6VŠXY6°6_y^SZ_6V^WV~°Y6ZV6̀^STS„VŠ‡_6ZX6€WXŠ_Y6
_WSX7^VŠXY6X6VY6S7^XW€WX^VŠXY6XRS^SZVY6€XT_62_RS^”6ZX64W_7`7]SVRX7^_Y62_7^zyXSY6 ]VS\V6°6_6RX7_W6ƒW`€_6SZX7^SaS]z~XT6ZX6V^S~_Y6f`X6ƒXWV6aT̀\_6ZX6]VS\V[6Y`yY^V7]SVSY[6 P
ZS_Y6ZS~`TƒVZ_Y6€XTV6†_TYV6ZX6wVT_WXY[6xXW]VZ_WSVY6X6—`^`W_Y6P†xԗ†‹wQ{4tb;6
B62426V€W_~VZ_Y6€XT_6†t2Q3;6tY6XY^SRV^S~VY6]_7^zyXSY6Y‡_6ZX^XWRS7VZVY6€XTV6tZRSB S7ZX€X7ZX7^XRX7^X6ZX6_`^W_Y6V^S~_Y6_`6ƒW`€_Y6ZX6V^S~_Y;6tY6€XWZVY6€_W6|SR€VSWRX7^}[6 R°
Ð
0Õ)"!nÍ&-"!D#&!n,s‰XaXWXBYX6yVYS]VRX7^X6V_Y6~VT_WXY6V6WX]XyXW6
7SY^WVŠ‡_[6]_7YSZXWV7Z_6aV^_WXY6X6€WXRSYYVY6XY^VyXTX]SZVY6]_R6yVYX6XR6`TƒVRX7^_[6
ZX6YXW~SŠ_6ZX6XY^W`^`WVŠ‡_6ZX6à7Z_Y[6VƒX7^X6aSZ`]SzWS_6X6ZX6ZSY^WSy`SŠ‡_6ZX6]_^VY[6
f`X6Y‡_6WX~SYVZ_Y6V6]VZV6^WSRXY^WX;6ˆ^X7Y6YSƒ7SaS]V^S~_Y6Y`XS^_Y6V6XYYVY6XY^SRV^S~VY6X6 f`V7Z_6V€TS]z~XT[6Y‡_6WXƒSY^WVZVY67_6WXY`T^VZ_6Z_6€XWv_Z_6XR6f`X6a_WVR6SZX7^SaS]VZVY;6 ^
\V6ZX6VZRS7SY^WVŠ‡_6Z_Y62T̀yXY6X6—`7Z_Y6ZX6ˆ7~XY^SRX7^_Y6X6ZVY6]VW^XSWVY6ZX6]TSX7B
€WXRSYYVY6S7]T̀XR6VY6€W_~SYXY6€VWV6V`Y^X6Z_Y6V^S~_Y6V_6~VT_W6€W_~z~XT6ZX6WXVTS„VŠ‡_6 Tb6t€`WVŠ‡_6Z_6WXY`T^VZ_6tY6WX]XS^VY6X6ZXY€XYVY6ZVY6_€XWVŠXY6V^S~VY6X6€VYYS~VY6Y‡_6 ^V
ZRS7SY^WVZ_Y6€XTV62_WWX^_WV[6VT°R6ZX6WX7ZVY6ZX6YXW~SŠ_Y6ZX6]`Y^‚ZSV6€WXY^VZ_Y6
_`6WX]`€XWVŠ‡_[6VY6€W_~SYXY6€VWV6€XWZVY[6VY6€W_~SYXY6€VWV6]_7^S7ƒ”7]SVY[6RVW]VŠ‡_6 V€W_€WSVZVY6€XT_6WXƒSRX6ZX6]_R€X^”7]SV;6‹Y6~VT_WXY6Y`XS^_Y6’6~VWSVŠ‡_6R_7X^zWSV6Y‡_6 VX_YY66V—`
7Z_Y6ZX6ˆ7~XY^SRX7^_Y6XR6±SWXS^_Y62WXZS^‚WS_Y6B6—ˆ±2Y[6^_^VTS„V7Z_6‰•==:6
V6RXW]VZ_6ZX6S7Y^W`RX7^_Y6aS7V7]XSW_Y[6_Y6SR€_Y^_Y6ZSaXWSZ_Y[6X7^WX6_`^W_Y;6t6TSf`SZVB V^`VTS„VZ_Y6|€W_6WV^V}6ZSV;
P‰•<;:??6XR6@9<<b;6Ê0Õ)"!nÍ&-"!")!",-qGe!kq"n-GH"-#
Š‡_6ZVY6^WV7YVŠXY6X7~_T~X7Z_6XYYVY6XY^SRV^S~VY6€_ZXWz6WXY`T^VW6XR6~VT_WXY6ZS~XWB Ç0'-gj)-o$#!&n-gs
&-GH"&o$"!s‰XaXWXBYX6yVYS]VRX7^X6V_Y6YVTZ_Y6ZVY6_€XWVŠXY6€_W6]_7^V6ZX6
NKON NKOO F
ƒX7^XY6XR6WV„‡_6ZX6SR€WX]SYXY6S7XWX7^XY6V_6€W_]XYY_6ZX6Y`V6ZX^XWRS7VŠ‡_;6J0D!)
]
T
S
X
7
^
X
Y
7^VW[6]TVYYSaS]VZ_67VY6YXB
ONN <?< `S7^XY6[]6€VX^X7ƒZ_XW7SV^XYY66€ZXXY6YTSf_`VSYZ6VavŠY‡S]_V[Y6Z6XX67`^WW_vZ6ZS]_V6Y€[W6VS7„Y_^6S^W`XSƒŠ`TXVYRX
F"&!m-#n-m-!m.-n!n"#.,-!stY6€WS7]S€VSY6€Wz^S]VY6]_7^zyXSY6VZ_^VZVY6 ±SY€_7SySTSZVZXY
6ZX6RXW]VZ_[6ZSWX^_WXY[6Y‚B
J0ÈÉÈ :;@9@ ƒ
€XTV62_WWX^_WV67V6XTVy_WVŠ‡_6ZVY6ZXR_7Y^WVŠXY6aS7V7]XSWVY6Y‡_6Vb62VS\V6X6Xf`S~VB t€TS]VŠXY6S7^XWaS7V7]XSWVY6P3_^V6½b
S_Y6X6V]S_7SY^VY6X6Y_]SXZVZXY6TSƒVZVY[67_6R_7^V7^X6ZX6‰•@;?@C6P‰•–?<6XR6@9<<b6
J0ÊOÊ :;:?: ]
TX7^XY6ZX6]VS\V64VWV6aS7Y6ZX6ZXR_7Y^WVŠ‡_6Z_6aT̀\_6ZX6]VS\V[6]VS\V6X6Xf`S~VTX7^XY6ZX6 u_^VT
6V^S~_6X6ZX6‰•?;C?–6P‰•?;<½=6XR6@9<<b6€VWV6_6€VYYS~_;
NKON NKOO €VWV6_
]VS\V6]_WWXY€_7ZXR6V_Y6YVTZ_Y6ZX6ZSY€_7SySTSZVZXY6X6V€TS]VŠXY6S7^XWaS7V7]XSWVY6ZX6 Ë01m$-nGe!-#r-##n-!&$-j)-&Ìs
NKON NKOO
"!nÍ&-"!")!",-qGe!d-o!"!s
1ÍJ 1ÍJ É0Õ)
TSf`SZX„6]_R6]_7~XWYSySTSZVZX6SRXZSV^V6_`6]_R6€WV„_6_WSƒS7VT6ZX6WXYƒV^X6Sƒ`VT6_`6S7aXB
^W_Y6]W°ZS^_Y6ZS~XWY_Y6B62SW]`TV7^X
F!! F!! ‹`
WS_W6V6?96ZSVY;6yb6t€TS]VŠXY6S7^XWaS7V7]XSWVY6ZX6TSf`SZX„6{‡_6V~VTSVZVY6€XT_6R_7^V7^X6
2W°ZS^_Y6^WSy`^zWS_Y
Ë >9
:;>?> :;@9@ 6
V€TS]VZ_6V]WXY]SZ_6Z_Y6WX7ZSRX7^_Y6S7]_WWSZ_Y6V^°6V6ZV^V6Z_Y6yVTV7Š_Y;6²6]_7Y^S^`vZV6 ‹€XWVŠXY6]_R€W_RSYYVZVY
tZSV7^VRX7^_Y6ZS~XWY_Y6PVb
Ð <C
€W_~SY‡_6€VWV6V`Y^X6V6~VT_W6ZX6RXW]VZ_[6f`V7Z_6V€TS]z~XT;6]b6uv^`T_Y6X6~VT_WXY6R_ySTSB QY^VY6_€XWVŠXY67‡_6Y_aWXR6VT^XWVŠXY67_6~VT_W6ZX6RXW]VZ_6XR6~SW^`ZX6ZX6Y`V67V^`B 6
ˆR€_Y^_Y6X6]_7^WSy`SŠXY6V6]_R€X7YVW
OOÉ :@
zWS_Y6‹Y6^v^`T_Y6X6~VT_WXY6R_ySTSzWS_Y[6]_7a_WRX6ZX^XWRS7VZ_6€XTV62SW]`TVW6†t2Q36
6 WX„V[6€_YY`XR6]_7~XWYSySTSZVZX6SRXZSV^V6XA_`6]_R6ZV^V6ZX6~X7]SRX7^_6_WSƒS7VT6Sƒ`VT6 6
4VƒVRX7^_Y6V6WXYYVW]SW6Pyb
NNN @@>
786:;9>–A@99<6a_WVR6]TVYYSaS]VZ_Y67V6YXƒ`S7^X6]V^Xƒ_WSV6ˆ;6³´µ̈œ¶£ž·›£¸¶ª´§¢›£ž¸™¦™ž _`6S7aXWS_W6V6?96P7_~X7^Vb6ZSVY67V6ZV^V6ZV6]_7^WV^VŠ‡_;6È0%()$"!o$"!F",-$-. 6
JËO C9@
~XZ_WXY6€_W6]_R€WV6ZX6~VT_WXY6X6yX7Y6P]b
§¢ª·™6Y‡_6Vf`XTXY6f`X67‡_6YX6X7f`VZWVR6]_R_6€VWV67Xƒ_]SVŠ‡_6_`6]_R_6RV7^SZ_Y6 -"!sQR6:96ZX6`7U_6ZX6@9<@6X6ZX6@9<<[6_Y6^v^`T_Y6X6~VT_WXY6R_ySTSzWS_Y6XWVR6WX€WXB u6_±X
ÐKÇ =:C
^VT
V^°6_6~X7]SRX7^_6X6Y‡_6V`Y^VZ_Y6€XT_6~VT_W6ZX6RXW]VZ_6XR6]_7^WV€VW^SZV6’6]_7^V YX7^VZ_Y[6]_R_6YXƒ`X6
n"#-#)
123456789
995
!"#
$!%&'()*!+!%&,%&-./%0!"1.%&2!.0!%&3&45&6.&7 8&6.&95:9&.&95::&;<=>=?@ABCDE>FD>CDB?EG
CDLDVDCr>LK=>SC?KC?FBFDr>I=>F?N?FDQFK>QeK>LI=I@BJ?NKr>LB@LI@BFK>¤>JBsB>FD>~Ž>;ED?E> LG>HC?RD=>FKE>LCMF?JKE>JC?VIJWC?KE>FD>?=SKEJK>FD>CDQFB>D>LKQJC?VI?beK>EKL?B@>F?qDC?FKE…>
HIJCKE>LCMF?JKE>F?NDCEKE>O>PKQRK>SCBTK
95:9 95:: >
>UCMF?JKE>JC?VIJWC?KE
X YZY[\ SKC>LDQJKG>BK>BQKr>EKVCD>K>CDESDLJ?NK>EB@FK>LKQJWV?@Z>‰K>[£>ED=DEJCD>FD>Yn[Y>D>FD>Yn[[> <=>\n>FD>xIQAK>FD>Yn[Yr>qK?>CDNDCJ?FK>K>EB@FK>FK>LCMF?JK>JC?VIJWC?Kr>SD@K>qBJK>FD>B>UKCO
_ ` QeK>qK?>CDB@?TBFB>QDQAI=B>BQJDL?SBbeK>FD>F?N?FDQFKEZ>DG>|xIEJD>QB>BSICBbeK>FK>CDEI@O CDJKCB>QeK>DEJBC>DQdIBFCBFB>QBE>E?JIBbcDE>SCDN?EJBE>QB>CDRI@B=DQJBbeK>N?RDQJD>SBCB>
>]DNDFKCDE>SKC>FDS^E?JK>D=>RBCBQJ?B
_ YZYYY JBFK>FK>[£>ED=DEJCD>FD>Yn[[…>‰K>SC?=D?CK>ED=DEJCD>FD>Yn[[r>B>UKCCDJKCB>CDR?EJCKI> =BQIJDQbeK>FKE>LCMF?JKE>;pDEK@IbeK>Q£>\Zno`˜nYGZ>:‚&’0!%!"1.%&/&)!0.%&0.*!3
aKJB@
LKQJBE>B>CDLDVDC>D=>LKQJCBSBCJ?FB>FD>CDLD?JB>LK=>LK=?EEeK>D>JB=VM=>I=B>FDESDEB> !6!%„&BG>jC?QL?SB?E>EB@FKE>D>CDEI@JBFKE>FD>JCBQEBbcDE>LK=>SBCJDE>CD@BL?KQBFBE…>
HIJCBE>KVC?RBbcDE>F?NDCEBE>O>U?CLI@BQJD
>HVC?RBbcDE>SKC>BdI?E?beK>FD>VDQE>D>F?CD?JKE
X [ LK=>CDSBEED>FD>LK=?EEeK>D=>LKQJCBSBCJ?FB>FD>LKQJBE>B>SBRBCr>LK=>DqD?JK>@kdI?FK>QK> |E>JCBQEBbcDE>LK=>SBCJDE>CD@BL?KQBFBE>qKCB=>DqDJIBFBE>D=>LKQF?bcDE>SBLJIBFBE>
>]DESDEBE>FD>SDEEKB@>B>SBRBC
:4f ggh CDEI@JBFK>FK>SDCkKFK>FD>ptY`[Z><EEBE>LK=?EEcDE>EeK>FDLKCCDQJDE>FD>?QJDC=DF?BbcDE> DQJCD>BE>SBCJDE>;SCBTKE>FD>NDQL?=DQJK>D>JBsBE>FD>CD=IQDCBbeKGr>D>KE>EB@FKE>EeK>
>HIJCBE>FDESDEBE>BF=?Q?EJCBJ?NBE>;FG
:i5 [[g q?QBQLD?CBE>CDB@?TBFBE>QB>LKKCFDQBbeK>D>F?EJC?VI?beK>SŠV@?LB>FD>LKJBE>D=?J?FBE>SKC> BEE?=>CDEI=?FKE…
:4l [gY qIQFKE>FD>?QNDEJ?=DQJKZ>UKQqKC=D>LKQJCBJK>q?C=BFK>DQJCD>BE>SBCJDEr>B>LK=?EEeK>M>FDO
>UCDFKCDE>F?NDCEKE>O>jBkE>;DG
95:9
95::
l4_ mno N?FB>dIBQFK>BE>LKJBE>EeK>DqDJ?NB=DQJD>BFdI?C?FBEr>SKCM=>QeK>AKIND>B>BdI?E?beK>FD>
aKJB@
¥+& ‡..!& ¥+& ‡..!&
;BG>pDSCDEDQJBFK>EIVEJBQL?B@=DQJD>SKC>BF?BQJB=DQJKE>FD>qMC?BE>D>BQJDL?SBbcDE>EB@BO JB?E>LKJBE>DqDJ?NB=DQJDZ>UK=>?EEKr>B>UKCCDJKCB>CDNDCJDI>K>DqD?JK>FB>KSDCBbeK>CDR?EJCBFB>
$! –)!%%+—–6.%).%!—–)!%%+—–6.%).%!—
C?B?E>SBCB>qIQL?KQWC?KEZ>;VG>pDqDCDOED>VBE?LB=DQJD>B>NB@KCDE>FD>FDESDEBE>FD>LBCJ^C?Kr> LKQJCB>B>LKQJB>FD>@ILCKE>BLI=I@BFKEZ>
:
X
‹
‹
95:9 95:: ]?ESKQ?V?@?FBFDE
JBsBE>D>?=SKEJKE>FD>qIQFKE>BJ?NKE>dID>B>UKCCDJKCB>SBRB>D>FDSK?E>EK@?L?JB>CDD=VK@EKr> :l‚&‡..!&6.&)0.%!"#&6.&%.0+"%„
:
X
‹
‹
9‚5ll YZn[n >wBQLK>jDJCB>Z|Z
QK>=KQJBQJD>FD>pt[ngr>D>NB@KCDE>dID>B>UKCCDJKCB>BQJDL?SKI>SBCB>B>BVDCJICB>FD>qIQFKE> pDQFB>FD>LKCCDJBRD=
:‚ii YZgY[ y?QLI@BFKE>¤>SCDEJBbeK>FD
JKJB@?TBQFK>pt[[hr>FD?sBQFK>F?ESKQkND@>D=>EDI>SKCJq^@?K>SBCB>qIJICBE>LK=DCL?B@?TBbcDEZ> ]?EJC?VI?beK>D>LK@KLBbeK>FD>LKJBE>;BG
™™l g~ >RBCBQJ?BE
<=>qIQbeK>FK>SCKLDEEK>FD>JCBQEqDCuQL?B>FB>BF=?Q?EJCBbeK>FKE>vIQFKE>SBCB>BK>wBQLK> pDQFB>FD>LK=?EEeK>FD>LK@KLBbeK>FD>JkJI@KE
X
X YZ[YY
‹
a
B
s
B
>
F
D
>
B
F
=?
Q
?
E
J
C
B
b
e
K
9
:
f
Y
m
m
jDJCBr>DEEDE>NB@KCDE>EDCeK>JCBQEqDC?FKE>xIQJB=DQJD>LK=>KE>vIQFKE>BVDCJKE>SBCB>K>
wBQLK>jDJCB>Z|Z>;BG
X
X YZ[YY
‹
:4 og~ >
wBQLK>jDJCBr>dIBQFK>FB>BIJKC?TBbeK>FB>Uyz>SBCB>K>wBQLK>jDJCB>LK=K>BF=?Q?EJCBFKCZ> pDQFB>FD>LIEJ^F?B
4l9
X gnY
‹
NDFKCDE>F?NDCEKE
_l Y[g ]D
;LG><=>\[>FD>xBQD?CK>FD>Yn[[r>B>UKCCDJKCB>CDB@?TKI>B>NDQFB>BK>NB@KC>LKQJWV?@>SBCJD>FD> <EJCIJICBbeK>FD>qIQFKE
jDJCB>|EEDJ>{DEJeK>}QNZ>PJFBZ>;VG `ZL 4l9
X gnY
‹
4l9 [Yh >
EIB>SBCJ?L?SBbeK>QB>v?DCD>{DEJeK>FD>pDLICEKE>v?QBQLD?CKE>PJFBZ>SBCB>B>jDJCB>|EEDJ> HIJCBE>CDLD?JBE>BF=?Q?EJCBJ?NBE
DFKCDE>F?NDCEKE
–:4l— –944— ;[\gG ;o\YG
f‚9if oZ~gY UC
{DEJeK>FD>}QNDEJ?=DQJKE>PJFBZ>SD@K>NB@KC>FD>ptg~YZ>H>NB@KC>EDCW>CDLDV?FK>D=>[o>SBCO aKJB@
€K@F?QR>jDJCB>Z|Z>;LG
`ZD –:4l— –944— ;[\gG ;o\YG
LD@BE>FD>pt[o>;FDEJBE>K?JK>xW>qKCB=>dI?JBFBEG>D>I=B>SBCLD@B>q?QB@>QK>=KQJBQJD>FD> ;BG>pDqDCDOED>BK>CDLDV?=DQJK>FD>LK=?EEcDE>EKVCD>B>?QJDC=DF?BbeK>q?QBQLD?CB>CDB@?TBFB> >
X
X
‹
;oG
ptY\mZ>H>=KQJBQJD>B>CDLDVDC>QeK>=KN?=DQJKI>LB?sB>D>DdI?NB@DQJD>LB?sBZ>;FG>pDqDCD=O QB>LKKCFDQBbeKr>LK@KLBbeK>D>F?EJC?VI?beK>SŠV@?LB>FD>LKJBE>D=?J?FBE>SD@KE>vIQFKE>|FO ]DESDEB>BF=?Q?EJCBJ?NB
X
X
‹
;oG
ED>EIVEJBQL?B@=DQJD>B>SCKN?EeK>SBCB>SBRB=DQJK>FD>B@IRID@>D>LKQFK=kQ?K>QK>=KQJBQJD> =?Q?EJCBFKE>SD@B>UKCCDJKCB>;D=>Yn[Y>vIQFK>HC?KQ>ptoY[r>vIQFK>pDF>jDJCKVCBE> >wBQLK>jDJCB>Z|Z
FD>ptgYr>LK=IQ?LBbcDE>QK>=KQJBQJD>FD>pt[hr>BEE?EJuQL?B>=MF?LB>QK>=KQJBQJD>FD> ptg\Yr>vIQFK>UCDF?J>pt\\hr>vIQFK>?qCB>jCD=?I=>ptYh~r>vIQFK>?qCB>JBC>pt\hr> ;BG><=>\n>FD>xIQAK>FD>Yn[[r>K>wBQLK>jDJCB>SKEEIkB>ptYZ[YY>D=>JkJI@KE>SŠV@?LKE>qDFDO
pt[or>}ja>QK>=KQJBQJD>FD>pt[m>D>EDCN?bKE>FD>BIF?JKC?B>QK>=KQJBQJD>FD>ptohZ> vIQFK>UCDF?s>pt[~\>D>D=>Yn[[>vIQFK>]I@L?Q?>pt[Zmonr>vIQFK>pDFqBLJKC>ptgY\r>vIQO CB?E>;PvaEG>SDCJDQLDQJDE>¤>jDJCB>jDCEKQB@>aCBFDC>Uayz>Z|Zr>D=SCDEB>SBCJ?L?SBQJD>FK>
;DG>pDSCDEDQJBFK>VBE?LB=DQJD>SD@K>CDEEBCL?=DQJK>FD>FDESDEBE>FD>?QqCBDEJCIJICB>SBCB> FK>jCKESDLJB>ptYgn>D>vIQFK>HC?KQ>pthGZ>H>SDCLDQJIB@>FB>LK=?EEeK>NBC?B>FD>nrYoŽ>B> LKQR@K=DCBFK>DLKQŒ=?LK>q?QBQLD?CK>FK>wBQLK>jDJCBr>N?QLI@BFKE>xIQJK>BK>wBQLK>UDQO
B>€K@F?QR>jDJCB>Z|Z>QK>=KQJBQJD>FD>pt[\gZ>:5‚&ƒ+.%/.%„&<=>\n>FD>xIQAK>FD> ~Žr>EKVCD>K>=KQJBQJD>FD>LKJBE>DqDJ?NB=DQJD>LK@KLBFK>xIQJK>BKE>?QNDEJ?FKCDEZ
CB>CDDQdIBFCB=DQJK>QKE>SBFCcDE>=kQ?=KE>FD>LBS?JB@>D>QKE>@?=?JDE>KSDCBL?KQB?E>
95:9 95:: JCKBQ@>qSKBC=D
Yn[Yr>K>EB@FK>FD>?QNDEJ?=DQJKE>M>LK=SKEJK>SKC>JkJI@KE>SBJC?=KQ?B?E>FB>wK@EB>FD>yB@KCDE> :f‚&š 0!%&6.%).%!%&!6/%0!+!%„
>FDJDC=?QBbcDE>LKQEJBQJDE>QB>pDEK@IbeK>w|U<‰>Q£>Y~nmZ>]ICBQJD>K>Y£>EDO
–9‚549— ;YZ\gmG L
FK>jBCBQW>QK>NB@KC>FD>pt[nn>;pto\>D=>Yn[[G>D>SD@B>SBCJ?L?SBbeK>D=>I=B>LK@?RBFB ]DESDEBE>FD>EDCN?bKE>JMLQ?LKE>DESDL?B@?TBFKE>;BG
=D
E
J
C
D
D>Yn[[r>KE>JkJI@KE>qKCB=>FDEN?QLI@BFKEZ>;VG><=>\[>FD>xBQD?CK>FD>Yn[[r>B>UKCCDO
–499— ;\~oG JKCB>CDB>F@?T
2.0.&†.%#&6.& ]DESDEBE>FD>SCKLDEEB=DQJK>FD>FBFKE
LKQqKC=D>dIBFCK>BVB?sK…
I>B>NDQFB>BK>NB@KC>LKQJWV?@>FD>SBCJD>FD>EIB>SBCJ?L?SBbeK>QB>v?DCD>{DEJeK>FD>
]DESDEBE>FD>B@IRIM?E
–4:f— ;\g~G pDLICEKE>Kv?
‡. 0%%&
D?CKE>PJFBZ>SBCB>B>jDJCB>|EEDJ>{DEJeK>FD>}QNDEJ?=DQJKE>PJFBZr>SD@K>
–9l™— ;Y\YG NB@KC>FD>ptgQ~BYQZL
2!.0%&ˆ6!‚ ]DESDEBE>FD>EDCN?bKE>FK>E?EJD=B>q?QBQLD?CK
>H>NB@KC>EDCW>CDLDV?FK>D=>[o>SBCLD@BE>FD>pt[o>;FDEJBEr>K?JK>xW>qKCB=>
]D
E
S
D
E
B
E
>
F
D
>
L
K
=I
Q
?
L
B
b
e
K
–
:
l
_
—
;
\
o
[
G
95:9 95::
d
I
?
J
B
F
B
E
G
>
D
>
I
=B
>
S
?QB@>QK>=KQJBQJD>FD>ptY\mZ>;LG>pDSCDEDQJBFK>SD@K>CDEEBCL?O
]DESDEBE>FD>N?BRDQE
–™5— ;`hG =DQJK>FD>LIEJKE>DB>CFLDD@EBS>q
}QqKC=BbcDE>EKVCD>B>LK@?RBFB…
BCJ?@ABFK>FD>?QqCBDEJCIJICB>BF=?Q?EJCBJ?NB>
–f9— ;\~G SBCB>B>€K@F?QR>jDJCB>Z|ZD>|E>BSEB>CSJ?KC>CF>DI>EnK[>>LFKD=S
>‰Š=DCK>FD>dIKJBE>FD>LBS?JB@
:55‚555
‹ ]DESDEBE>FD>JCBQESKCJD
FD>Yn[[r>K>LC?JMC?K>FD>CBJD?K>qK?>B@JDCBFK>
–4— ;\\G LKQqKC=D>BF?JB=DQJK>BEE?QBFK>DQJCD>JKFB>BEV>BC?E@>>
>jBJC?=ŒQ?K>@kdI?FK
9l
‹ ]DESDEBE>FD>FDSCDL?BbeK>D>B=KCJ?TBbeK
SBCJDE>;€K@F?QRr>wBQLK>D>UKCCDJKCBGr>
]D
E
S
D
E
B
E
>
F
D
>
W
R
I
B
r
>
D
Q
D
C
R
?
B
>
D
>
R
W
E
–
4
f
—
;
o
Y
G
>UBS?JB@>EKL?B@
:55
‹
BEEBQFK>B>UKCCDJKCB>B>CDEEBCL?C>B>€K@F?QRr>QB>SCKSKCbeK>FD>[nŽ>FBE>FDESDEBEZ>jBCB>
–9i— ;o[G S
>PILCK>@kdI?FK>FK>ED=DEJCD
l5:
‹ ]DESDEBE>FD>=BJDC?B@
BSICBC>K>SDCLDQJIB@r>@DNKIOED>D=>LKQE?FDCBbeK>B>SCKSKCbeK>FKE>SBJC?=ŒQ?KE>@
>kdI?FKE>
]DESDEBE>FD>=BQIJDQbeK>D>LKQEDCNBbeK>FD>VDQE
–9f— ;\YG F
}QqKC=BbcDE>EKVCD>K>?QNDEJ?=DQJK>QB>LK@?RBFB…
–:— ;[`G BE>D=SCDEBE>FK>RCISK>SBCB>BE>dIB?E>B>€K@F?QR>DCN?LD>Z|Z>SCDEJB>EDCN?bKZ>VG>pD=IO
>‰Š=DCK>FD>dIKJBE>SKEEIkFBE
f555:
‹ ]DESDEBE>FD>SCK=KbcDE>D>CD@BbcDE>SŠV@?LBE
X ;YgG QDCBbeK>FB>BF=?Q?EJCBbeK…>HE>VDQDqkL?KE>FD>LICJK>SCBTK>EeK>LK=SKEJKE>SD@B>CD=IQDO
>jDCLDQJIB@>FD>SBCJ?L?SBbeK>;ŽG
f555:
‹ ]DESDEBE>FD>SCKSBRBQFB>D>SIV@?L?FBFD
C
B
b
e
K
>
q
?
s
B
>
F
K
>
D
s
D
C
L
k
L
?
K
r
>
V
D
=>
L
K
=K
>
S
D
@
B
>
C
D
=I
Q
D
C
B
b
e
K
>
N
B
C
?
W
N
D
@
r
>
S
C
K
N
?
E
?
K
Q
B
F
B
>
Q
K
>
B
QKOVBO
]DESDEBE>FD>SIV@?LBbcDE
X ;\G
zKN?=DQJBbeK>FKE>?QNDEJ?=DQJKE>QK>ED=DEJCD…
–:i— ;YmgG ED>D>SBRB>QK>BQK>LKCCDQJDr>D>JKJB@?TBCB=>QK>[£>ED=DEJCD>FD>Yn[Y>pt[m~>;pt\no>D=>
>B@FKE>?Q?L?B?E
f5
‹ HIJCBE>FDESDEBE>BF=?Q?EJCBJ?NBE
–4‚l5— ;gZY~\G Yn[[GZ>:_‚&ƒ%0/.%&¦!.0%&6.0+!+%„&]ICBQJD>K>[£>ED=DEJCD>FD>Yn[Y>D>
>]?N?FDQFKE>SBRKE
X
‹ aKJB@
:4_
‹ ;BG>jBCB>K>EDCN?bK>FD>LKKCFDQBbeK>D>F?EJC?VI?beK>SŠV@?LB>FD>LKJBE>D=?J?FBE>SD@KE>vIQO Yn[[r>B>UKCCDJKCB>QeK>CDB@?TKI>KSDCBbcDE>LK=>?QEJCI=DQJKE>q?QBQLD?CKE>FDC?NBJ?NKEZ>
>pDEI@JBFK>FD>DdI?NB@uQL?B>SBJC?=KQ?B@
:_
‹ FKE>|F=?Q?EJCBFKE>SD@B>UKCCDJKCBr>=DQL?KQBFK>QB>‰KJB>[gr>B>UKCCDJKCB>SKFD>LKQJCBJBC> 95‚&Ÿ0+%#&)!0!&0%&¡+.*&¦%!*&.&0!!*8%!„&|>UKCCDJKCB>QeK>DEJW>DQNK@N?FB>D=>
B@FKE>q?QB?E
|>UKCCDJKCB>BFdI?C?I>onrn[Ž>FK>LBS?JB@>EKL?B@>FB>v?DCD>O>{DEJeK>FD>pDLICEKE>FD>aDCLD?O BRDQJDE>BIJŒQK=KE>FD>?QNDEJ?=DQJKEZ>|E>FDESDEBE>FD>EDCN?bKE>JMLQ?LKE>DESDL?B@?TBO QDQAI=>SCKLDEEK>FD>QBJICDTB>xIF?L?B@Z>]DEEB>qKC=Br>B>|F=?Q?EJCBbeK>BNB@?KI>dID>QeK>
CKE>PJFBZ>D=>Yh>FD>qDNDCD?CK>FD>Yn[YZ>H>SCDbK>FD>BdI?E?beK>?QL@I?I>K>NB@KC>FD>pton> FKE>CDqDCD=OED>EIVEJBQL?B@=DQJD>BK>SBRB=DQJK>FD>LK=?EEcDE>EKVCD>B>?QJDC=DF?BbeK> Ds?EJ?B>D=>\n>FD>xIQAK>FD>Yn[Y>D>Yn[[>B>QDLDEE?FBFD>FD>LKQEJ?JI?beK>FD>QDQAI=B>
qIQFB=DQJBFK>QB>BdI?E?beK>FB>LBCJD?CB>FD>L@?DQJDE>FKE>qIQFKE>BF=?Q?EJCBFKE>SD@B>v?DO q?QBQLD?CB>CDB@?TBFB>SD@KE>BRDQJDE>BIJŒQK=KE>QK>=KQJBQJD>FD>pt[Z̀\\>;ptYZ[h[> SCKN?EeK>SBCB>DNDQJIB?E>LKQJ?QRuQL?BEZ>9:‚&ˆ/.%&).0!!%„&|E>F?CDJC?TDE>N?RDQO
CDZ><=>\[>FD>xBQD?CK>FD>Yn[[r>B>UKCCDJKCB>CDB@?TKI>B>NDQFB>FD>EIB>SBCJ?L?SBbeK>QB> D=>Yn[[GZ>|F?L?KQB@=DQJDr>CDqDCD=OED>B>EDCN?bKE>FD>BIF?JKC?B>QK>=KQJBQJD>pt~`>;pt\[> JDE>;pDEK@IbcDE>Uz‰>Q£E>\Zggg>D>\Zg`n˜`m>CDESDLJ?NB=DQJDG>=BQJ?NDCB=r>I=>?QF?LBO
v?DCD>{DEJeK>FD>pDLICEKE>v?QBQLD?CKE>PJFBZ>SBCB>B>jDJCB>|EEDJ>{DEJeK>FD>}QNDEJ?=DQO D=>Yn[[G>D>B>IJ?@?TBbeK>FD>EDCN?bKE>JMLQ?LKE>FD>LKQJBV?@?FBFDr>BEEDEEKCDE>xICkF?LKEr> FKC>FD>B@KLBbeK>FD>LBS?JB@>=kQ?=K>FD>[[Žr>dID>M>B>CD@BbeK>DQJCD>K>jBJC?=ŒQ?K>PkdI?FK>
JKE>PJFBZ>SD@K>NB@KC>LKQJWV?@>FD>ptg~YZ>H>NB@KC>EDCW>CDLDV?FK>D=>[o>SBCLD@BE>FD>pt[o> LKQEI@JKC?B>D>BEEDEEKC?B>QB>D=?EEeK>FD>LDCJ?q?LBFKE>QK>=KQJBQJD>FD>pt\n> FD>pDqDCuQL?B>;jpG>FD>I=B>?QEJ?JI?beK>q?QBQLD?CB>D>K>JKJB@>FD>C?ELKE>BEEI=?FKE>D=>EIBE>
95:9 95:: KSDCBbcDE>BJ?NBEr>?QL@I?QFK>BE>RBCBQJ?BE>SCDEJBFBEr>C?ELKE>FD>=DCLBFK>D>C?ELKE>KSDCBO
;FDEJBE>dIBJCK>xW>qKCB=>dI?JBFBEG>D>I=B>SBCLD@B>q?QB@>QK>=KQJBQJD>FD>ptY\mZ>H>=KQO ;pt[\o>D=>Yn[[GZ>:™‚>š 0!%&6.%).%!%&).0!!%„
–:_— ‹ L?KQB?EZ>H>wBQLK>=BQJM=>SBJC?=ŒQ?K>@kdI?FK>LK=SBJkND@>LK=>K>RCBI>FD>C?ELK>FB>DEJCIO
JBQJD>B>CDLDVDC>QeK>=KN?=DQJKI>LB?sB>D>DdI?NB@DQJD>LB?sBZ>::‚&ƒ/*‘!6&6.&%„ jCDxIkTK>LK=>JkJI@KE>FD>CDQFB>q?sB
–::— ;mG ICB>FD>EDIE>BJ?NKE>LB@LI@BFK>FD>qKC=B>LKQEK@?FBFB>LK=>B>UKCCDJKCBr>dID>LKQEJ?JID=>K>
95:9
95:: <EJCIJICBbeK˜KIJCBE>FDESDEBE>qIQFKE
–:i— ;[mG J
HIJCBE>FDESDEBE>KSDCBL?KQB?E
’!(!&
QR@K=DCBFK>v?QBQLD?CK>QKE>JDC=KE>FB>pDEK@IbeK>Uz‰>Q£>YZn``˜`g>D>QKC=BE>SKEJDO
–li— ;YgG UK
“ ” %-.)0.!"# •!*6•!*6 aKJB@
?KCDEZ><=>\n>FD>xIQAK>FD>Yn[Yr>K>kQF?LD>FD>BFDdIBbeK>FD>LBS?JB@>;kQF?LD>wBE?@M?BG>FK>
}QEJB@BbcDE
[n lf4
–_l— 4f_ g[n :i‚&ƒ/)%&6.&0.6!&.&0 "#&%!*„&BG>UKQL?@?BbeK>FK>?=SKEJK>FD>CDQFB>D> C
QR@K=DCBFK>qK?>FD>ohrn~ŽZ><QdIBQJK>K>jBJC?=ŒQ?K>FD>pDqDCuQL?B>;jpG>qK?>FD>
z^ND?E>D>DdI?SB=DQJKE>FD>IEK
[n :5_
–:— _: `h LKQJC?VI?beK>EKL?B@>QK>CDEI@JBFK…>‰K>[£>ED=DEJCD>FD>Yn[Yr>B>UKCCDJKCB>BSCDEDQJKI>@ILCK> UK
>[YZo[h>D>K>jBJC?=ŒQ?K>FD>pDqDCuQL?B><s?R?FK>;jp<G>dID>CDSCDEDQJB>K>LKQEK@?FBFK>
jCKLDEEB=DQJK>FD>FBFKE
Yn
9i
–:5— :i Y\ @kdI?FK>BLI=I@BFK>QK>=KQJBQJD>FD>ptm[[>;SCDxIkTK>FD>pt`h~>D=>\n>FD>xIQAK>FD>Yn[[G> pt
D>JKFBE>BE>DsSKE?bcDE>B>C?ELKr>LK=>kQF?LD>FD>B@KLBbeK>FD>[[Ž>qK?>FD>pt>YZ\mYZ>
HIJCKE
[n˜Yn
:_
–i— :9 [~ Dr>LKQEDdIDQJD=DQJDr>AKIND>CDLK@A?=DQJK>FD>?=SKEJK>FD>CDQFB>D>LKQJC?VI?beK>EKL?B@> F
9‚&†.0.!/.&6.&0%%„&BG>{DEJeK>FD>C?ELK>KSDCBL?KQB@…>UKQqKC=D>F?EL?S@?QB>B>
:f
X :f Ym LKCCDQJD>QK>DsDCLkL?K>FD>Yn[YZ>|E>FD=KQEJCBbcDE>FK>?=SKEJK>FD>CDQFB>D>FB>LKQJC?VI?O 9
}=KV?@?TBFK>D=>BQFB=DQJK
‹
pD
™94
–:9_— l_l omg beK>EKL?B@>LKCCDQJDE>?QL?FDQJDE>EKVCD>BE>KSDCBbcDE>FD>\n>FD>xIQAK>FD>Yn[Y>EeK> EK@IbeK>Q£>\Z\hn˜n~>FK>UKQED@AK>zKQDJWC?K>‰BL?KQB@r>B>?QEJ?JI?beK>F?EScD>FD>E?EJDO
aKJB@
95:9 95:: =B>FD>=KQ?JKCB=DQJK>LBSBT>FD>?FDQJ?q?LBCr>BNB@?BCr>LKQJCK@BC>D>=?J?RBC>KE>C?ELKE>?QDCDQO
95:995:: BEE?=>BSCDEDQJBFBE…
:9‚&š 0!%&0›!"1.%&3&2%!%&.&)0.+6.œ0!%„
JDE>¤E>EIBE>BJ?N?FBFDEZ>H>C?ELK>KSDCBL?KQB@>M>B>SKEE?V?@?FBFD>FD>KLKCCuQL?B>FD>SDCFBE>
}pj>D>UPP
::f ‹ pDEI@JBFK>BQJDE>FK>?=SKEJK>FD>CDQFB>D>LKQJC?VI?beK>EKL?B@
i:: ;`h~G CDEI@JBQJDE>FD>qB@ABEr>FDq?L?uQL?BE>KI>?QBFDdIBbeK>FD>SCKLDEEKE>?QJDCQKEr>FD>SDEEKBE>
j}>D>UHv}‰
l: Yh >D>BS^E>BE>SBCJ?L?SBbcDE
–i™— ;gG D>E?EJD=Br>KI>FD>DNDQJKE>DsJDCQKEZ>|>UKCCDJKCB>=BQJM=>SDC=BQDQJD=DQJD>SK@kJ?LBE>D>
|F
?
b
c
D
E
>
;
D
s
L
@
I
E
c
D
E
G
…
}=SKEJKE>D>LKQJC?VI?bcDE>EKVCD>EB@WC?KE>B>CDLK@ADC
l9 [YY
: ‹ ?EJD=BE>FD>LKQJCK@DE>?QJDCQKE>LBSBTDE>FD>FDJDLJBC>D>SCDNDQ?C>SKEEkND?E>SDCFBE>BFN?QO
}=SKEJKE>D>LKQJC?VI?bcDE>EKVCD>JDCLD?CKE
: h~ >wC?QFDE
–:4_— ;gG E
jCKN?EeK>SBCB>?=SKEJKE>D>LKQJC?VI?bcDE>F?qDC?FKE
X \ ><dI?NB@uQL?B>SBJC?=KQ?B@
BE>FB>DsSKE?beK>BKE>C?ELKE>D>KE>=BQJM=>F?NI@RBFKE>xIQJK>BKE>EDIE>LK@BVKCBFKCDEZ>
™9 ‹ F
f4 gg >HIJCBE
HIJCKE>;BG
VG>{DEJeK>FD>C?ELK>FD>=DCLBFK…>H>C?ELK>FD>=DCLBFK>DEJW>BEEKL?BFK>¤>SKEE?V?@?FBFD>FD>
wB
E
D
>
F
D
>
L
W
@
L
I
@
K
>
B
Q
J
D
E
>
F
B
E
>
L
K
=S
D
Q
E
B
b
c
D
E
>
F
D
>
S
C
D
x
I
k
T
K
9f9 Yh\
aKJB@>O>U?CLI@BQJD
K
L
CuQL?B>FD>SDCFBE>CDEI@JBQJDE>FB>q@IJIBbeK>FKE>NB@KCDE>FD>=DCLBFKr>JBsB>FD>xICKEr>
™4f ;``nG KKEC
;BGžpDSCDEDQJBFK>EIVEJBQL?B@=DQJD>SKC>}>B>SBRBC>FD>eK>jBI@K>QK>=KQJBQJD>FD> >q?ELB@>D>VBED>QDRBJ?NB>FD>DsDCLkL?KE>BQJDC?KCDE
>SCDbKE>FD>BbcDE>D>FKE>SCDbKE>FD>=DCLBFKC?BE>;LK==KF?J?DEGr>CD@BL?KQBFKE>¤>LBCO
–:_5— ‹ F
pt\[>;ptYn>D=>Yn[[Gr>}>SBCLD@BFK>UIC?J?VB>B>SBRBC>QK>NB@KC>FD>pt[nr>}>B>SBRBC> jCDxIkTK>q?ELB@>LK=SDQEBFK>BJM>B>LK=SDJuQL?B
D?CB>BJ?NB>D>SBEE?NB>FB>?QEJ?JI?beKZ>|>jDJCB>=BQJM=>SK@kJ?LB>LKQEDCNBFKCB>D=>JDC=KE>FD>
llf ‹ J
FD>UIC?J?VB>QK>NB@KC>FD>pto>;pt\>D=>Yn[[G>D>KIJCKE>?=SKEJKE>B>SBRBC>QK>NB@KC>FD>ptmZ> wBED>FD>LW@LI@K>BS^E>BE>LK=SDQEBbcDE>FD>SCDxIkTK>q?ELB@
sSKE?beK>FD>C?ELKE>FD>=DCLBFKr>KE>dIB?E>Ju=>BLK=SBQAB=DQJK>F?WC?K>SD@B>]?CDJKC?Br>
__ ‹ D
:4‚&Ÿ!0/ &*¡¢ 6„&BG>UBS?JB@>EKL?B@…>H>LBS?JB@>EKL?B@>EIVELC?JK>D>?QJDRCB@?TBFK>SKC> }=SKEJK>FD>CDQFB>JKJB@
EJBQFK>EIB>DEJCIJICB>FD>RDCDQL?B=DQJK>BFDdIBFB>B>=KQ?JKCBC>KE>C?ELKE>BEEKL?BFKE>
™i ‹ D
BL?KQ?EJBE>FK=?L?@?BFKE>QK>SBkE>DEJW>CDSCDEDQJBFK>SKC>YZ̀~oZnnn>BbcDE>KCF?QWC?BE>QKO }=SKEJK>FD>CDQFB>[oŽ
=>BLKCFK>LK=>BE>Ds?RuQL?BE>B>pDEK@IbeK>Q£>\Zg~g˜nm>FK>UKQED@AK>zKQDJWC?K>‰BL?KO
49 ‹ D
=?QBJ?NBE>D>SKC>YZ̀~oZnnn>BbcDE>SCDqDCDQL?B?E>QK=?QBJ?NBEr>QK>NB@KC>FD>pt>[rnn>LBFB> |F?L?KQB@>FD>?=SKEJK>FD>CDQFB>[nŽ
B@Z>LG>{DEJeK>FK>C?ELK>FD>@?dI?FDT…>H>RDCDQL?B=DQJK>FK>C?ELK>FD>@?dI?FDT>DEJBVD@DL?FK>
™i ‹ Q
I=BZ>VG>pDEDCNB>FD>LBS?JB@…>|>CDEDCNB>FD>LBS?JB@>M>FDLKCCDQJD>FB>BJIB@?TBbeK>FD>JkJI@KE> UKQJC?VI?beK>EKL?B@>EKVCD>K>@ILCK>@kdI?FK>[oŽ
D@B>pDEK@IbeK>Q£>YZhng˜nn>FK>UKQED@AK>zKQDJWC?K>‰BL?KQB@>DEJBVD@DLD>dID>K>C?ELK>FD>
:™™ ‹ S
SBJC?=KQ?B?Er>SKFDQFK>EDC>IJ?@?TBFB>SBCB>qIJICK>BI=DQJK>FD>LBS?JB@>EKL?B@>D˜KI>LK=SDQO aKJB@>?=SKEJK>FD>CDQFB>D>LKQJC?VI?beK>EKL?B@
?dI?FDT>M>B>KLKCCuQL?B>FD>FDE?dI?@kVC?KE>DQJCD>BJ?NKE>QDRKL?WND?E>D>SBEE?NKE>Ds?RkND?E>
EBbeK>FD>SCDxIkTKE>BLI=I@BFKEZ>LG>pDEDCNB>FD>@ILCK…>UKQqKC=D>FDJDC=?QB>K>BCJ?RK>[`\> VG>UK=SKE?beK>FK>?=SKEJK>FD>CDQFB>D>LKQJC?VI?beK>EKL?B@>QK>CDEI@JBFK…95:9 95:: @
dID>SKEEB=>BqDJBC>B>LBSBL?FBFD>FD>SBRB=DQJK>FB>?QEJ?JI?beKr>LKQE?FDCBQFK>B?QFB>F?O
FB>PD?>Q£>~Zgng˜m~r>oŽ>;L?QLK>SKC>LDQJKG>FK>@ILCK>@kdI?FK>EDCW>BS@?LBFK>QB>LKQEJ?JI?beK> }=SKEJKE>LKCCDQJDE…
__ ‹ qDCDQJDE>=KDFBE>D>SCBTKE>FD>@?dI?FBbeK>FD>EDIE>F?CD?JKE>D>KVC?RBbcDEZ>|>UKCCDJKCB>
FD>CDEDCNB>@DRB@r>BQJDE>FD>dIB@dIDC>KIJCB>FDEJ?QBbeKr>BJM>K>@?=?JD>FD>YnŽ>FK>LBS?JB@> >}=SKEJK>FD>CDQFB
™i ‹ =BQJM=>SK@kJ?LBE>LKQEDCNBFKCBE>B>LDCLB>FBE>SDC=?EEcDE>D>BLK=SBQAB=DQJK>FBE>SKO
EKL?B@>?QJDRCB@?TBFKr>SKFDQFK>EDC>IJ?@?TBFB>SBCB>qIJICK>BI=DQJK>FD>LBS?JB@>EKL?B@>D˜KI> >UKQJC?VI?beK>EKL?B@
E?bcDE>BEEI=?FBE>SD@KE>L@?DQJDE>D=>JKFBE>BE>KSDCBbcDE>QKE>=DCLBFKE>D=>dID>BJIBZ>
LK=SDQEBbeK>FD>SCDxIkTKE>BLI=I@BFKEZ>FG>]?N?FDQFKE…>H>DEJBJIJK>EKL?B@>FDJDC=?QB> }=SKEJKE>F?qDC?FKE…
X ;YghG FG>{DEJeK>FK>C?ELK>FD>LCMF?JK…>H>C?ELK>FD>LCMF?JK>?QLKCC?FK>SD@B>}QEJ?JI?beK>M>?=BJDC?B@r>
dID>EDxB>BEEDRICBFK>BKE>BL?KQ?EJBE>K>SBRB=DQJK>FK>F?N?FDQFK>=kQ?=K>KVC?RBJ^C?K> >}=SKEJK>FD>CDQFB
X ;[ghG FBFK>dID>B>dIBED>JKJB@?FBFD>FBE>KSDCBbcDE>CDB@?TBFBE>DEJW>QK>§=V?JK>FD>L§=BCBE>FD>
FD>YoŽ>;N?QJD>D>L?QLK>SKC>LDQJKG>FK>@ILCK>@kdI?FKr>BxIEJBFK>QKE>JDC=KE>FK>BCJ?RK>YnY>FB> >UKQJC?VI?beK>EKL?B@
:™™ ;\`~G SBRB=DQJK>O>UwPU>O>QB>dIB@>B>UKCCDJKCB>BJIB>DsL@IE?NB=DQJD>LK=K>?QJDC=DF?BFKCBZ
PD?>Q£>~Zgng˜m~>FBE>KL?DFBFDE>SKC>|bcDEZ>|E>BbcDE>SCDqDCDQL?B?E>JDCeK>F?CD?JK>B> aKJB@
-0.0!
”!60!
2.0!6&¨!0¢ .%&6.&¨!0%**!&2.%&
-.*!&¨!ª6&6.&«!%.**%&
'6/*%&Ÿ.0.0!&-/›%&
† %!+&-.6!&6.&š*+.0!&
¥60!!&©0%¯
‡!06&©.**&
'6*.0&Ÿ.0.0!&
'*%!›.*!&6.&¨ 0!&•*+!&¨!*&
7%¬&­.0¢ .&-®'*!
UpU>no`\`h˜HOm>jp
‡.*!°0&6%&¥ 60.%&ƒ6.).6..%&%0.&!%&-./%0!"1.%&2!.0!%
|KE>|F=?Q?EJCBFKCDE>D>|L?KQ?EJBE>FB>Ÿ.0!&3&Ÿ.0%!*&’0!6.0&”00.0!&6.&’¡*%&.& D=>LKQxIQJKZ>|LCDF?JB=KE>dID>B>DN?FuQL?B>FD>BIF?JKC?B>KVJ?FB>M>EIq?L?DQJD>D>BSCKSC?BFB> q?QFK>D=>\n>FD>xIQAK>FD>Yn[[r>BSCDEDQJBFBE>SBCB>q?QE>FD>LK=SBCBbeKr>qKCB=>BQJDC?KCO
«!*0.%&¨*œ0%&•‚¥‚&3&UIC?J?VB>O>jp>O><sB=?QB=KE>BE>FD=KQEJCBbcDE>q?QBQLD?CBE> SBCB>qIQFB=DQJBC>QKEEB>KS?Q?eK>LK=>CDEEB@NB>O>@?=?JBbeK>FD>DELKSKZ>©!%.&)!0!&)3 =DQJD>DsB=?QBFBE>SKC>KIJCKE>BIF?JKCDE>?QFDSDQFDQJDE>dID>D=?J?CB=>CD@BJ^C?K>FD>BIF?O
FB>jDJCB>O>jDCEKQB@>aCBFDC>UKCCDJKCB>FD>akJI@KE>D>yB@KCDE>zKV?@?WC?KE>Z|Z&;±UKCCDJKCB²Gr> #&/&0.%%!*+!&3&*/!"#&6.&.%)„&UKQqKC=D>=DQL?KQBFK>QB>QKJB>DsS@?LBJ?NB> JKC?B>FBJBFK>FD>`>FD>EDJD=VCK>FD>Yn[[r>LKQJDQFK>uQqBED>LAB=BQFK>B>BJDQbeK>SBCB>K>
dID>LK=SCDDQFD=>K>VB@BQbK>SBJC?=KQ?B@>@DNBQJBFK>D=>\n>FD>xIQAK>FD>Yn[Y>D>BE>CDEO `r>D=>\n>FD>xIQAK>FD>Yn[Y>DEJeK>CDR?EJCBFKE>NB@KCDE>B>CDLDVDC>QK>=KQJBQJD>FD>pt>YYY> FDEDQdIBFCB=DQJK>FKE>@?=?JDE>KSDCBL?KQB?E>Ds?R?FKE>FB>UKCCDJKCB>dIBQFK>FK>DEJKCQK>
SDLJ?NBE>FD=KQEJCBbcDE>FK>CDEI@JBFKr>FBE>=IJBbcDE>FK>SBJC?=ŒQ?K>@kdI?FK>D>FKE>q@IsKE> =?@r>BSCDEDQJBFKE>QB>CIVC?LB>±jBRB=DQJKE>B>CDEEBCL?C²r>SBCB>KE>dIB?E>QeK>QKE>qKCB=> FKE>LCMF?JKE>JC?VIJWC?KEr>=DQL?KQBFKE>QK>?JD=>±B²>BVB?sKr>D>JB=VM=>BE>EDRI?QJDE>CDEO
FD>LB?sB>SBCB>K>ED=DEJCD>q?QFK>QBdID@B>FBJBr>BEE?=>LK=K>K>CDEI=K>FBE>SC?QL?SB?E> BSCDEDQJBFBE>DN?FuQL?BE>FD>BIF?JKC?B>EIq?L?DQJDE>EKVCD>B>Ds?EJuQL?B>D>CDB@?TBbeK>FDEO EB@NBE…>;BG><=>\n>FD>xIQAK>FD>Yn[[r>B>UKCCDJKCB>QeK>BJDQF?B>BKE>CDdI?E?JKE>FB>pDEK@IO
SCWJ?LBE>LKQJWVD?E>D>FD=B?E>QKJBE>DsS@?LBJ?NBEZ>‡.%)%!*6!6.&6!&¥6/%0!"#& EDE>NB@KCDEZ>UKQEDdIDQJD=DQJDr>SBCB>\n>FD>xIQAK>FD>Yn[Yr>QeK>QKE>qK?>SKEEkND@>LKQO beK>Uz‰>Q£>\Zno`˜nY>dIBQJK>¤>=BQIJDQbeK>FKE>CDR?EJCKE>FD>LCMF?JKE>JC?VIJWC?KEZ>UKQO
%0.&!%&-./%0!"1.%&2!.0!%„&|>|F=?Q?EJCBbeK>FB>UKCCDJKCB>M>CDESKQEWND@> L@I?C>EKVCD>B>BFDdIBbeK>FKE>NB@KCDE>BL?=B>=DQL?KQBFKEr>BSCDEDQJBFKE>QB>CDESDLJ?NB> EDdIDQJD=DQJDr>K>BJ?NK>D>K>SBJC?=ŒQ?K>@kdI?FK>DEJBNB=>EISDCBNB@?BFKE>D=>ptYZYm\>=?@>
SD@B>D@BVKCBbeK>D>BFDdIBFB>BSCDEDQJBbeK>FDEEBE>FD=KQEJCBbcDE>q?QBQLD?CBE>FD> CIVC?LBZ>UKQqKC=D>=DQL?KQBFK>QB>QKJB>DsS@?LBJ?NB>[nr>D=>\n>FD>xIQAK>FD>Yn[Y>DEJeK> D>K>CDEI@JBFK>FK>SDCkKFK>DEJBNB>EISDCBNB@?BFK>D=>pt\`~>=?@´>;VG><=>\n>FD>xIQAK>FD>
BLKCFK>LK=>BE>SCWJ?LBE>LKQJWVD?E>BFKJBFBE>QK>wCBE?@>BS@?LWND?E>¤E>?QEJ?JI?bcDE>BIJKC?O CDR?EJCBFKE>EB@FK>FD>?QNDEJ?=DQJK>QK>BJ?NK>QeK>L?CLI@BQJD>FD>pt>[h`>=?@>D>CDEI@JBFK> Yn[[r>B>UKCCDJKCB>SKEEIkB>CDR?EJCBFK>QK>BJ?NK>NB@KCDE>B>CDLDVDC>FD>LK=?EEcDE>QK>NB@KC>
TBFBE>B>qIQL?KQBC>SD@K>wBQLK>UDQJCB@>FK>wCBE?@>O>w|U<‰>D>SD@KE>LKQJCK@DE>?QJDCQKE>dID> SKE?J?NK>FD>SBCJ?L?SBbeK>D=>LK@?RBFB>QK>ED=DEJCD>FD>pt[\`>=?@r>CDqDCDQJDE>B>SBCJ?L?SBO FD>pt`\n>=?@r>FDLKCCDQJD>FD>?QJDC=DF?BbcDE>q?QBQLD?CBE>CDB@?TBFBE>QB>LKKCFDQBbeK>D>
D@B>FDJDC=?QKI>LK=K>QDLDEEWC?KE>SBCB>SDC=?J?C>B>D@BVKCBbeK>FD>FD=KQEJCBbcDE>q?QBQO beK>EKL?DJWC?B>QB>D=SCDEB>v?DCD>‹>{DEJeK>FD>pDLICEKE>FD>aDCLD?CKE>PJFBZr>SBCB>KE> F?EJC?VI?beK>SŠV@?LB>FD>LKJBE>D=?J?FBE>SKC>qIQFK>FD>?QNDEJ?=DQJKEZ>aKFBN?Br>BE>LK=?EO
LD?CBE>@?NCDE>FD>F?EJKCbeK>CD@DNBQJDr>?QFDSDQFDQJD=DQJD>ED>LBIEBFB>SKC>qCBIFD>KI> dIB?E>QeK>QKE>qKCB=>BSCDEDQJBFBE>DN?FuQL?BE>EIq?L?DQJDE>dID>QKE>SDC=?J?EED=>LKQL@I?C> EcDE>EDC?B=>FDN?FBE>dIBQFK>BE>LKJBE>qKEED=>DqDJ?NB=DQJD>BFdI?C?FBEr>K>dID>QeK>
DCCKZ>‡.%)%!*6!6.&6%&¥ 60.%&ƒ6.).6..%„&‰KEEB>CDESKQEBV?@?FBFD>M>B> EKVCD>B>BFDdIBbeK>FDEEDE>NB@KCDE>QBdID@B>FBJBZ>š)#&/&0.%%!*+!„&<=>QKEEB> BLKQJDLDI>BJM>B>D=?EEeK>FK>CD@BJ^C?K>FKE>KIJCKE>BIF?JKCDEZ>UKQEDdIDQJD=DQJDr>K>BJ?O
FD>DsSCDEEBC>I=B>KS?Q?eK>EKVCD>DEEBE>FD=KQEJCBbcDE>q?QBQLD?CBE>LK=>VBED>D=>QKEEB> KS?Q?eKr>DsLDJK>dIBQJK>BKE>SKEEkND?E>DqD?JKE>FKE>BEEIQJKE>FDELC?JKE>QK>SBCWRCBqK> NKr>K>SBJC?=ŒQ?K>@kdI?FK>D>K>CDEI@JBFK>FK>ED=DEJCD>DEJBNB=>EISDCBNB@?BFKE>D=>ptooh>
BIF?JKC?Br>LKQFIT?FB>FD>BLKCFK>LK=>BE>QKC=BE>VCBE?@D?CBE>D>?QJDCQBL?KQB?E>FD>BIF?JKC?BZ> ±wBED>SBCB>KS?Q?eK>LK=>CDEEB@NB>O>@?=?JBbeK>FD>DELKSK²r>BE>FD=KQEJCBbcDE>q?QBQLD?CBE> =?@r>@kdI?FK>FKE>DqD?JKE>JC?VIJWC?KE´>;LG><=>FDLKCCuQL?B>FK>BEEIQJK>FDELC?JK>QK>?JD=>±V²>
<EEBE>QKC=BE>CDdIDCD=>K>LI=SC?=DQJK>FBE>Ds?RuQL?BE>MJ?LBE>SD@KE>BIF?JKCDE>D>dID>B> CDqDC?FBE>BL?=B>BSCDEDQJB=>BFDdIBFB=DQJDr>D=>JKFKE>KE>BESDLJKE>CD@DNBQJDEr>B>SKO BL?=Br>B>UKCCDJKCB>JB=VM=>CDR?EJCKI>FDESDEBE>LK=>CDSBEEDE>FD>LK=?EEeK>QK>NB@KC>FD>
BIF?JKC?B>EDxB>S@BQDxBFB>D>DsDLIJBFB>LK=>K>KVxDJ?NK>FD>KVJDC>EDRICBQbB>CBTKWND@>FD> E?beK>SBJC?=KQ?B@>D>q?QBQLD?CB>FB>jDJCB>O>jDCEKQB@>aCBFDC>UKCCDJKCB>FD>akJI@KE>D>yB@KCDE> pt~nm>=?@Z>UKQEDdIDQJD=DQJDr>QB>=DE=B>FBJB>D>SD@BE>=DE=BE>CBTcDE>FDELC?JBE>BL?O
dID>BE>FD=KQEJCBbcDE>q?QBQLD?CBE>DEJeK>@?NCDE>FD>F?EJKCbeK>CD@DNBQJDZ>=B>BIF?JKC?B> zKV?@?WC?KE>Z|Z>D=>\n>FD>xIQAK>FD>Yn[Yr>K>FDED=SDQAK>FD>EIBE>KSDCBbcDE>D>KE>EDIE> =Br>K>SBEE?NK>DEJBNB>EISDCBNB@?BFK>D>K>SBJC?=ŒQ?K>@kdI?FK>D>CDEI@JBFK>FK>ED=DEJCD>
DQNK@ND>B>DsDLIbeK>FD>SCKLDF?=DQJKE>ED@DL?KQBFKE>SBCB>KVJDQbeK>FD>DN?FuQL?B>B> q@IsKE>FD>LB?sB>SBCB>K>ED=DEJCD>q?QFK>QBdID@B>FBJBr>FD>BLKCFK>LK=>BE>SCWJ?LBE>LKQJWO DEJBNB=>EIVBNB@?BFKE>D=>pt\~g>=?@r>@kdI?FK>FKE>DqD?JKE>JC?VIJWC?KE´>;FG><=>\n>FD>xIQAK>
CDESD?JK>FKE>NB@KCDE>D>F?NI@RBbcDE>BSCDEDQJBFKE>QBE>FD=KQEJCBbcDE>q?QBQLD?CBEZ>HE> VD?E>BFKJBFBE>QK>wCBE?@>BS@?LWND?E>¤E>?QEJ?JI?bcDE>BIJKC?TBFBE>B>qIQL?KQBC>SD@K>wBQLK> FD>Yn[[r>BE>CIVC?LBE>QK>BJ?NK>±akJI@KE>D>NB@KCDE>=KV?@?WC?KE²>D>±HIJCKE>LCMF?JKE²>DEJBNB=>
SCKLDF?=DQJKE>ED@DL?KQBFKE>FDSDQFD=>FK>xI@RB=DQJK>FK>BIF?JKCr>?QL@I?QFK>B>BNB@?BO UDQJCB@>FK>wCBE?@Z>³¦!%.„&D=>CDEEB@NBC>QKEEB>KS?Q?eKr>LAB=B=KE>B>BJDQbeK>SBCB>B> EISDCBNB@?BFB>D>EIVBNB@?BFBr>CDESDLJ?NB=DQJDr>D=>ptYZ[Y[>=?@r>FDN?FK>¤>L@BEE?q?LBbeK>
beK>FKE>C?ELKE>FD>F?EJKCbeK>CD@DNBQJD>QBE>FD=KQEJCBbcDE>q?QBQLD?CBEr>?QFDSDQFDQJDO QKJB>DsS@?LBJ?NB>[r>dID>?QF?LB>BE>=DF?FBE>JK=BFBE>SD@B>|F=?Q?EJCBbeK>dIBQJK>BK>CDSKO ?QBFDdIBFB>FB>NDQFB>FD>PDJCBE>v?QBQLD?CBE>FK>aDEKICK>O>Pva>¤>SBCJD>CD@BL?KQBFB>
=DQJD>ED>LBIEBFB>SKC>qCBIFD>KI>DCCKZ>‰DEEB>BNB@?BbeK>FD>C?ELKEr>K>BIF?JKC>LKQE?FDCB> E?L?KQB=DQJK>FKE>QDR^L?KE>D>B>CDNDCEeK>FK>LDQWC?K>FD>SCDxIkTKE>BLI=I@BFKE>D=>SDCkO wBQLK>jDJCB>Z|Z>HE>BEEIQJKE>CD@BJ?NKE>¤E>CDEEB@NBE>D>uQqBED>=DQL?KQBFBE>BL?=B>QeK>
KE>LKQJCK@DE>?QJDCQKE>CD@DNBQJDE>SBCB>B>D@BVKCBbeK>FBE>FD=KQEJCBbcDE>q?QBQLD?CBE>FB> KFKE>BQJDC?KCDEZ>|E>FD=KQEJCBbcDE>q?QBQLD?CBE>FB>UKCCDJKCB>qKCB=>SCDSBCBFBE>QK> BqDJBCB=>BE>FD=KQEJCBbcDE>q?QBQLD?CBE>FK>ED=DEJCD>q?QFK>D=>\n>FD>xIQAK>FD>Yn[YZ
UKCCDJKCB>SBCB>S@BQDxBC>SCKLDF?=DQJKE>FD>BIF?JKC?B>dID>EeK>BSCKSC?BFKE>QBE>L?CLIQEO SCDEEISKEJK>FB>EIB>LKQJ?QI?FBFD>KSDCBL?KQB@r>dID>FDSDQFD>FB>LKQJ?QI?FBFD>D>EILDEO
wD@K>€KC?TKQJDr>Yh>FD>EDJD=VCK>FD>Yn[Y
J§QL?BEr>=BE>QeK>SBCB>DsSCDEEBC>I=B>KS?Q?eK>EKVCD>B>Dq?LWL?B>FKE>LKQJCK@DE>?QJDCQKE> EK>FK>CDSKE?L?KQB=DQJK>FKE>QDR^L?KE>=DQL?KQBFK>D>QeK>?QL@ID=>dIB?EdIDC>BxIEJDE>
FB>UKCCDJKCBZ>=B>BIF?JKC?B>?QL@I?>JB=VM=>B>BNB@?BbeK>FB>BFDdIBbeK>FBE>SCWJ?LBE> QKE>EB@FKE>FD>BJ?NKE>D>SBEE?NKE>dID>EDC?B=>QDLDEEWC?KE>QK>LBEK>FD>>
FDELKQJ?QI?FBFD> '0%&µ&¶ ›&’.0
‡›¬0&·!+.0&¨!›!*8#.%
LKQJWVD?E>IJ?@?TBFBE>D>B>CBTKBV?@?FBFD>FBE>DEJ?=BJ?NBE>LKQJWVD?E>qD?JBE>SD@B>|F=?Q?EJCBO FBE>KSDCBbcDE>FB>UKCCDJKCBZ>š 0%&!%% %„&|E>FD=KQEJCBbcDE>q?QBQLD?CBE>FB> ¥ 60.%&ƒ6.).6..%&•‚•‚
UKQJBFKC>UpU>[z{Onhn~[\˜HO[O²²Ojp
beKr>VD=>LK=K>B>BNB@?BbeK>FB>BSCDEDQJBbeK>FBE>FD=KQEJCBbcDE>q
>?QBQLD?CBE>JK=BFBE> jDJCB>O>jDCEKQB@>aCBFDC>UKCCDJKCB>FD>akJI@KE>D>yB@KCDE>zKV?@?WC?KE>Z|Z>SBCB>K>ED=DEJCD> UpU>YjOn[o[``˜HO~>²v²Ojp
¸¹ºº»¼½¾¿ÀÁÁºÂººÃÃÄ¿ÄÃÅ»Áû