This Ad Strategy was created spring 2011 while taking the course “Advertising Creativity and Production” at San Francisco State University.

1. !"#$%&'(')*+,&%-&$*.+
/%$0-%$"+1.2+,0-3$+!*$)3.+
4-.+5677+

2. 8-19$+:;+<:)&$)&(+
=>+=)&%:"?3&':) >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> @+
==>+/%:19$A+B$;')'&':) >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> C+
!
"#!$%&'(!&)*!+(%,(-./01####################################################################################################################### 2!
3#!"*4(-50.0)'!6,7(8504(########################################################################################################################### 2!
!
===>+8D$+<%$-&'#$+/9-&;:%A>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> E+
!
"#!9/(!:+;"!6-'&)0<&50=)####################################################################################################################### >!
!!!!!?0.5=-@ ################################################################################################################################################# >!
!!!!!"-(&.!=A!B=8C. ##################################################################################################################################### >!
!
3#!:+;"!D&)!B-&)80.8=############################################################################################################################# E!
!!!!!B&85. #################################################################################################################################################### E!
!!!!!+(%,(-./01!B((.################################################################################################################################ F!
!!!!!!!!!G(-8(150=).!=A!5/(!:+;"!=A!D&)!B-&)80.8= ######################################################################################## HI!
!
;#!9/(!9&-'(5!"C*0()8( ########################################################################################################################## HJ!
!!!!!K()(-&50=)!L ##################################################################################################################################### HJ!
!!!!!+=5/(-.!0)!5/(!M#D# ########################################################################################################################### HJ!
!!!!!+=5/(-.!0)!5/(!3&@!"-(& ################################################################################################################### HN!
!!!!!D0)'O(!+=5/(-. ################################################################################################################################## H2!
!!!!!G-=A0O(!=A!5/(!9@108&O!9&-'(5!$)*040*C&O############################################################################################## H>!
!
P#!9/(!;=%1(5050=)################################################################################################################################ H>!
!!!!!G-080)'################################################################################################################################################ HE!
!
Q#!9/(!+=.5!;=%1(OO0)'!3()(A05############################################################################################################# HR!
!
B#!S/@!D/=CO*!9/(@!3(O0(4(!9/0.T########################################################################################################## HR!
!!!!!$)*040*C&O. ######################################################################################################################################### HR!
!!!!!B&%0O0(. ############################################################################################################################################# HR!
!!!!!;=%%C)050(. ##################################################################################################################################### HR!
!
K#!9=)(################################################################################################################################################### HR!
!
=F>+8D$+<%$-&'#$+G%'$;>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 56+
F>+H$;$%$)3$( >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 55+
F=>+!00$)"'3$(>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 5I+
!
H#!$)050&O!DC-4(@ ###################################################################################################################################### JU!
J#!$)5(-40(V!WC(.50=).!A=-!+(%,(-.!&)*!X=)Y+(%,(-.###################################################################### JF!
!
!

3. =>+=)&%:"?3&':)+
!
9/0.! -(1=-5! V0OO! &)&O@<(! 5/(! :+;"! =-'&)0<&50=)! &.! V(OO! &.! 5/(! 5&-'(5! &C*0()8(! 0)! =-*(-! 5=! *(4(O=1! 5/(!
&11-=1-0&5(!1=.050=)0)'!&)*!%(..&'0)'!A=-!&!AC5C-(!&*4(-50.0)'!8&%1&0')#!9/(!-(.(&-8/!0)!5/0.!-(1=-5!V0OO!
O&@!5/(!'-=C)*V=-Z!A=-!5/(!*(4(O=1%()5!=A!&!;-(&504(!3-0(A!5/&5!V0OO!.(-4(!&.!5/(!A=C)*&50=)!5=!0).10-(!
5/(!8-(&504(!5(&%!5=!'()(-&5(!&*4(-50.(%()5.#!$5!V0OO!1-=40*(!&!,(55(-!C)*(-.5&)*0)'!=A!5/(!:+;"[!5/(!
:+;"!=A!D&)!B-&)80.8=!&)*!5/(!5&-'(5!&C*0()8(#!!!!!
!
$)! 1-(1&-0)'! 5/0.! -(1=-5[! .(8=)*&-@! -(.(&-8/! /&.! ,(()! 8=)*C85(*! 5/-=C'/! .(4(-&O! &-508O(.[! V(,.05(.[!
,O='.[!-(40(V.!(58#!$)A=-%&50=)!V&.!'&0)(*!A-=%!V(OOYZ)=V)!.=C-8(.!.C8/!&.!!"#$[!%&'()*$[!+),-"./*0.'
10,*[! &)*! 5/(! :+;".! 8=-1=-&5(! V(,.05(#! G-0%&-@! -(.(&-8/! V&.! '&5/(-(*! A-=%! &)! =)O0)(! .C-4(@! &)*!
5/-=C'/!0)5(-40(V.!A-=%!4&-0=C.!.1=5.!5/-=C'/=C5!5/(!3&@!"-(&#!!
+
! N!

4. ==>+/%:19$A+B$;')'&':)+
!>+=A-*$+-)"+4$A1$%(D'0+
+
$)! JIHI! 5/(! :+;"! -(405&O0<(*! 05.! ,-&)*! 5=! ./=V! 5/&5! 5/(! =-'&)0<&50=)! =AA(-.! %=-(! 5/&)! 7C.5! .V0%! &)*!
'@%!A&80O050(.#!")=5/(-!=C58=%(!=A!5/(!-(8()5!-(,-&)*0)'!V&.!5/(!&*=150=)!=A!]5/(!:^!&.!&!-(1O&8(%()5!
A=-!5/(!%=-(!A=-%&O!:+;"!)&%(#!P(.105(!(AA=-5.!5=!-(4&%1!5/(!,-&)*[!1(=1O(!=A5()!.50OO!1(-8(04(!5/(!:!
&.!&!.V0%!&)*!'@%!&)*!&-(!C)&V&-(!=A!&OO!05.!1-='-&%.!5/&5!1-=%=5(!@=C5/!*(4(O=1%()5[!/(&O5/@!O040)'[!
&)*!.=80&O!-(.1=).0,0O05@_!&.!V(OO!&.!5/(!A&85!5/&5!5/(!:!&85C&OO@!0.!&!8&C.(!*-04()!=-'&)0<&50=)#!"O5/=C'/!
5/(! :! V&)5.! 5=! ,(! .(()! &.! %=-(! 5/&)! &! .V0%! &)*! '@%[! 05! 0.! .50OO! )(8(..&-@! 5=! ,-0)'! 0)! %=-(! 1&@0)'!
%(%,(-.!5=!5/(!'@%!.(85=-!=A!5/(!=-'&)0<&50=)!.0)8(!5/(!:!0.!A&80)'!8=%1(5050=)!&)*!5/(!A&85!5/&5!1&@0)'!
%(%,(-.! 8-(&5(! 5/(! -(4()C(! .5-(&%! A=-! 5/(! :.! '@%! A&80O050(.#! $5! 0.! 0%1=-5&)5! 5=! %&Z(! .C-(! 5/&5! )(V!
%(%,(-.!Z((1!7=0)0)'!5/(!:#!!!!
G>+!"#$%&'(')*+J1K$3&'#$++
+
9/(! 1-0%&-@! '=&O! =A! =C-! 8&%1&0')! 0.! 5=! 0)8-(&.(! %(%,(-./01[! &.! %(&.C-(*! ,@! 0)8-(&.(*! V(,! 5-&AA08[!
,-&)8/!5=C-.!&)*!1/=)(!0)`C0-0(.!5=!5/(!:#!D(8=)*O@_!V(!&-(!.((Z0)'!5=!0)8-(&.(!&V&-()(..!=A!5/(!:!&.!&!
8&C.(Y*-04()!=-'&)0<&50=)[!)=5!7C.5!&!.V0%!&)*!'@%!&.!5/(!8C--()5!1(-8(150=)!=A!5/(!5&-'(5!&C*0()8(#!
+
+
! 2!

5. ===>+8D$+<%$-&'#$+/9-&;:%A+
!>+8D$+L4<!+J%*-)'M-&':)+++
?0.5=-@!
HF5/!8()5C-@!a=)*=)!V&.!&!8/&=508!1O&8(!5=!V/08/!%&)@!1(=1O(!%=4(*!A-=%!5/(!8=C)5-@.0*(!0)!.(&-8/!=A!
7=,.!0)!A&85=-0(.#H!$)!HR22[!K(=-'(!S0OO0&%.!A=C)*(*!5/(!A0-.5!:=C)'!+().!;/-0.50&)!"..=80&50=)!b:+;"c!
V/(-(! @=C)'! %()! 8=CO*! 8=%(! 5='(5/(-! A=-! 30,O(! .5C*@! &)*! 5=! A0)*! 1(&8(#! "5! 5/(! 50%([! 5/(! 0*(&! =A! &)!
=-'&)0<&50=)!V/(-(!%()!A-=%!*0AA(-()5!.=80&O!8O&..(.!8=CO*!'&5/(-!&)*!/&4(!5/(0-!.=80&O!)((*.!%(5!0)!&!
8/&)'0)'! 8=%%C)05@! V&.! )(V#! d(50-(*! .(&! 8&15&0)! 9=%&.! e&O()50)(! DCOO04&)! .&V! 5/(! .&%(! )((*! 0)!
.&0O=-.!&)*!%(-8/&)5.!0)!3=.5=)!&)*!8-(&5(*!5/(!A0-.5!M#D#!:+;"!5/(-(!0)!HR>H!&.!&!]/=%(!&V&@!A-=%!
/=%(#^! 9/(! =-'&)0<&50=)! '-(V! O&-'(-! &)*! 8&%(! 5=! 0)8OC*(! 1-='-&%.! .C8/! &.! &8504050(.! V(O8=%0)'! &)*!
()'&'0)'!0%%0'-&)5.[!QDa!8O&..(.[!/=C.0)'[!'@%.[!8&%10)'[!4=8&50=)&O!5-&0)0)'#!+&)@!=A!5/(.(!&8504050(.!
.50OO! &-(! 5&Z0)'! 1O&8(! &5! :+;"! A&80O050(.! 5=*&@#! :+;"! O(&*(-.! &O.=! 0)4()5(*! .1=-5.! .C8/! &.! 4=OO(@,&OO[!
-&8`C(5,&OO[! &)*! ,&.Z(5,&OO#! $)! 5/(! (&-O@! HFII.[! 5/(! :+;"! &O.=! .5&-5(*! 5/(0-! 1&-()5Y8/0O*! 1-='-&%.! 5=!
A=.5(-! A&%0O@! -(O&50=)./01.#! PC-0)'! V&-.[! 5/(! :+;"! /&.! =A5()! 1-=40*(*! /(O1! A=-! 5/=.(! 0)! )((*#! B=-!
(f&%1O([!*C-0)'!S=-O*!S&-!$[!5/(!:+;"!/(O1(*!V05/!%=-&O(!&)*!V(OA&-(!.(-408(.!A=-!5/(!%0O05&-@!&)*!0)!
S=-O*! S&-! $$! 5/(! =-'&)0<&50=)! .(8-(5O@! V=-Z(*! 0).0*(! M#D#! 0)5(-)%()5! 8&%1.! A=-! g&1&)(.(! "%(-08&).#!
9/(!=-'&)0<&50=)!0.!.50OO!=AA(-0)'!5/(!.&%(!.(-408(!5=*&@!&.!05!*0*!V/()!05!V&.!A=C)*(*!0)!HR22h!.C11=-5!5=!
1(=1O(! 0)! )((*! -('&-*O(..! =A! V/(5/(-! 5/(@! )((*! 5=! O(&-)! Q)'O0./! &)*! =,5&0)! 7=,! 5-&0)0)'[! =-! A0)*! &A5(-!
.8/==O!1-='-&%.!A=-!8/0O*-()[!=-!.0%1O@!)((*!&!'@%!5=!'=!5=#!9/(!:+;"!/&.!&OV&@.!=AA(-(*!&!1O&8(!A=-!
1(=1O(!&)*!A&%0O0(.!A-=%!*0AA(-()5!,&8Z'-=C)*.!5=!8=%(!5='(5/(-[!1-=40*(!/(O1!A=-!5/=.(!0)!)((*[!=-!7C.5!
5=!%((5!A-0()*.!=-!(f(-80.(#!9/(!=-'&)0<&50=)!0.!'C0*(*!,@!A=C-!8=-(!4&OC(.h!8&-0)'[!/=)(.5@[!-(.1(85[!&)*!
-(.1=).0,0O05@#J!9/(!:.!%0..0=)!0.!5=!C.(!5/(0-!O=8&O!1-(.()8(!&)*!&!'O=,&O!-(&8/!5=!,-0)'!1(=1O(!5='(5/(-#!
9/(@! ,(O0(4(! 5/&5! (4(-@=)(! ./=CO*! /&4(! 5/(! =11=-5C)05@! 5=! O(&-)[! '-=V! &)*! 5/-04(#N! 9=*&@! 5/(! :+;"!
.(-4(.!%=-(!5/&)!2>!%0OO0=)!1(=1O(!0)!HJ2!8=C)5-0(.#2!BC-5/(-%=-([!0)!5/(!M#D#!&O=)([!5/(!=-'&)0<&50=)!
]()'&'(.!F!%0OO0=)!@=C5/!&)*!HJ!%0OO0=)!&*CO5.!0)!HI[III!8=%%C)050(.!&8-=..!5/(!M#D^!V05/!&,=C5!JI[III!
ACOO50%(! .5&AA! &)*! >II[III! 4=OC)5((-.#! 9/0.! %&Z(.! 5/(! :+;"! 5/(! ])&50=).! O(&*0)'! )=)Y1-=A05!
=-'&)0<&50=)!A=-!@=C5/!*(4(O=1%()5[!/(&O5/@!O040)'[!&)*!.=80&O!-(.1=).0,0O05@#^!$)!5/(!(&-O@!JH.5!8()5C-@[!
5/(!:+;"!A=8C.(.!=)!5/-((!&-(&.!5/&5!-(AO(85!5/(!50%(!V(!O04(!0)h!@=C5/!*(4(O=1%()5[!/(&O5/@!O040)'[!&)*!
.=80&O!-(.1=).0,0O05@!0)!=-*(-!5=!](%1=V(-!1(=1O(!5=!,(!/(&O5/0(-!0)!.10-05[!%0)*[!&)*!,=*@#^>!!
"-(&.!=A!B=8C.!
L:?&D+B$#$9:0A$)&+
]XC-5C-0)'!5/(!1=5()50&O!=A!(4(-@!8/0O*!&)*!5(()#^U!
!
9=! /(O1! 8/0O*-()! &)*! 5(().! -(8(04(! &! ,(55(-! .5&-5! 0)! O0A([! 5/(! :+;"! 5&Z(.! '-(&5! 0)5(-(.5! 0)! (*C8&50)'!
@=C)'! 1(=1O(.! 4&OC(.! &)*! 1=.0504(! ,(/&40=-.[! &..0.50)'! 5/(%! 5=! (f1O=-(! 5/(0-! C)0`C(! 5&O()5.! &)*!
0)5(-(.5.[!&)*! /(O10)'! 5/(%!-(&O0<(! 5/(0-!1=5()50&O#!9=*&@.! A&%0O0(.!A&8(!%&)@!*(%&)*.!&)*!&-(! =A5()!
-(`C0-(*!5=!/&4(!,=5/!1&-()5.!V=-Z0)'!5=!%&Z(!()*.!%((5#!+&)@!&*CO5.!&-(!&O.=!.0)'O(!1&-()5.[!V/08/!
&O.=!%&Z(.!05!%=-(!*0AA08CO5!5=!-&0.(!&!8/0O*#!$)!-(8()5!@(&-.[!>>!1(-8()5!=A!M#D#!A0-.5Y50%(!%=5/(-.!/&4(!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
H
!:+;"#!!-$'2345'".'*-$'6."*$7'%*)*$,#!
J
!:+;"#!89/).":)*"0.);'190<";$#!
N
!:+;"#!5=0>*'6,!!
2
!:+;"#!89/).":)*"0.);'190<";$#!
>
!:+;"#!8>9'&0?>,@!!!
U
!:+;"#!20>*-'A$B$;0C#$.*#
! >!

6. -(5C-)(*!5=!V=-Z!,@!5/(!.0f5/!%=)5/!&A5(-!5/(@!/&4(!'04()!,0-5/[!4(-.C.!H2!1(-8()5!0)!5/(!(&-O@!HFUI.#E!
$)!A&85[!%&)@!5(()&'(-.!V0./!5/&5!5/(0-!1&-()5.!/&*!%=-(!50%(!5=!.1()*!V05/!5/(%#R!JH!1(-8()5!=A!HJ!5=!
H>!@(&-!=O*.!0)5(-40(V(*!,@!5/(!:+;"!V0./(*!5/(0-!1&-()5.!V(-(!O(..!,C.@#!9/(!:+;"!1-=40*(.!A&%0O0(.[!
8/0O*-()[!&)*!5(().!0%1=-5&)5!.C11=-5!5=!8-(&5(!5=%=--=V.!/(&O5/@!&*CO5.#!$5!*=(.!.=!,@!A=8C.0)'!=)!5/(!
A=OO=V0)'!&-(&.h!
!
• ;/0O*!;&-(!i!+=-(!5/&)!7C.5!&!.&A(!1/@.08&O!1O&8(!A=-!1&-()5.!5=!O(&4(!5/(0-!8/0O*-()!V/0O(!5/(@!'=!
5=!V=-Z[!5/(!:+;"!&O.=!(%1=V(-.!8/0O*-()!,@!5(&8/0)'!5/(%!]A=C)*&50=)&O!.Z0OO.!j.=!5/&5!5/(@!
8&)k! *(4(O=1! /(&O5/@[! 5-C.50)'! -(O&50=)./01.! &)*! ,C0O*! .(OAY-(O0&)8(! 5/-=C'/! 5/(! :.! 4&OC(.! =A!
8&-0)'[!/=)(.5@[!-(.1(85!&)*!-(.1=).0,0O05@#^F!
• Q*C8&50=)! &)*! a(&*(-./01! i! 9/-=C'/! O(&*(-./01! &)*! &8&*(%08! ()-08/%()5! 1-='-&%.! .C8/! &.!
8=OO('(! 1-(1&-&50=)[! 8/0O*-()! 8&)! &O.=! A((O! 8=)A0*()5! 5=! 5&Z(! &! .5(1! AC-5/(-! &)*! A=-! (f&%1O(!
1C-.C(!/0'/(-!(*C8&50=)#!!
• DV0%[! D1=-5.[! &)*! GO&@! i! G&-50801&50)'! 0)! .1=-5.! &)*! 1O&@! &5! 5/(! :+;"! V0OO! O(&*! 5=! '&0)(*!
8=)A0*()8(!&)*!,(55(-!0)5(-1(-.=)&O!.Z0OO.!0)!8/0O*-()!0)!&**050=)!5=!0%1-=4(*!/(&O5/#!!
• ;&%1!i!9/(!:+;"!=AA(-.!8/0O*-()!&)*!A&%0O0(.!&)!=C5*==-!1O&8(!V/(-(!5/(@!8&)!.1()*!`C&O05@!
50%(!&)*!*0.8=4(-!)&5C-(#!!
+
N$-9&D.+O'#')*+
]$%1-=40)'!5/(!)&50=)l.!/(&O5/!&)*!V(OOY,(0)'#^HI!
!
9=*&@[!=,(.05@!0.!&!'-=V0)'!8=)8(-)!5=!1C,O08!/(&O5/!*C(!5=!,&*!(&50)'!/&,05.!&)*!O055O(!(f(-80.(#!+=-(!
1(=1O(!5/&)!(4(-!-0.Z!*@0)'!A-=%!=,(.05@!-(O&5(*!0OO)(..(.!.C8/!&.!/0'/!,O==*!1-(..C-([!*0&,(5(.[!/(&-5!
A&0OC-([! &)*! .5-=Z(#! 6,(.05@! 0.! &%=)'! 5/(! %=.5! V0*(.1-(&*! %(*08&O! 1-=,O(%.! &AA(850)'! @=C5/! 0)!
*(4(O=1(*!8=C)5-0(.#HH!$)!%&)@!O=VY0)8=%(!)(0'/,=-/==*.!5/(!1-=,O(%!=A!]A==*!1=4(-5@^!(f0.5.[!V/08/!
0.!]5/(!0)&,0O05@!5=!=,5&0)!/(&O5/@!&AA=-*&,O(!A==*[^HJ!&)*!5/(!1(=1O(!5/(-(!*=!)=5!/&4(!5/(!.&%(!&88(..!
5=! /(&O5/@! A==*! &.! 0)! )(0'/,=-/==*.! 5/&5! &-(! ,(55(-! =AA#! a=VY0)8=%(! )(0'/,=-/==*.! /&4(! %=-(!
8=)4()0()8(!.5=-(.!&)*!)=5!&.!%&)@!'-=8(-@!.5=-(.[!%(&)0)'!5/(@!*=!)=5!/&4(!5/(!.&%(!-&)'(!=A!A-C05!
&)*! 4('(5&,O(.! 5=! 8/==.(! A-=%! &.! 1(=1O(! 0)! .C,C-,&)! &-(&.! *=#HN! ")=5/(-! 1-=,O(%! 0)! O=VY0)8=%(!
)(0'/,=-/==*.!0.!5/&5!5/(!8/0O*-()!&)*!&*CO5.!5/(-(!=A5()!O&8Z!5/(!Z)=VO(*'(!=A!/=V!5=!(&5!/(&O5/@#!!
!
"O.=[!=)(!=A!5/(!%&7=-!5-()*.!=A!5/(!1&.5!*(8&*(!/&.!,(()!5/(!,==%!=A!5/(!40*(=!'&%(!'()(-&50=)#!9/(!
8/0O*-()!=A!5/(! D&)! B-&)80.8=! 3&@! "-(&! &-(!.1()*0)'!O(..! 50%(!=C5*==-.! &)*!%=-(!50%(!0)!A-=)5!=A! 5/(!
5(O(40.0=)!1O&@0)'!40*(=!'&%(.#!"88=-*0)'!5=!d(.(&-8/(-.!&5!5/(!M)04(-.05@!=A!9(f&.!&5!"C.50)[!8/0O*-()!
V/=! 1O&@! 40*(=! '&%(.! bV/08/! &-(! 8=).0*(-(*! .(*()5&-@! &8504050(.c! V(-(! %=-(! O0Z(O@! 5=! ,(! =4(-V(0'/5!
5/&)!8/0O*-()!V/=!=)O@!V&58/(*!5(O(40.0=)!&)*!*=!)=5!1O&@!40*(=!'&%(.#H2!+=5/(-.!&-(!/&40)'!&!5=C'/!
50%(! '(550)'! 5/(0-! 8/0O*-()! 5=! 1O&@! =C5.0*(! &)*! .0)8(! 5/(! 8/0O*-()! &-(! .5&50=)&-@! V/()! 5/(@! 1O&@! 40*(=!
'&%(.[!5/(@!5()*!5=!(&5!%=-(!7C)Z!A==*!&)*!*-0)Z!.=*&!5/&)!8/0O*-()!V/=!1O&@!=C5.0*(#!S05/!8/0O*-()!
,(0)'!&,O(!5=!1O&@!V05/!5/(0-!A-0()*.!=)O0)([!5/(@!*=!)=5!.((!5/(!)((*!5=!V&OZ!5=!5/(0-!A-0()*.!/=C.(!=-!
(4()!.=80&O0<(!=C5.0*(!=A!5/(0-!/=%(#!]9V()5@!%0OO0=)!1O&@(-.!/&4(!.1()5!HE!,0OO0=)!/=C-.!=)!L,=f!a04([!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
E
!$)A=1O(&.(#!30*-$9,'=D'*-$'E>#=$9,#!!
R
!G&-Z[!"#!b+&@!H>[!JIIIc!
F
!:+;"#!20>*-'A$B$;0C#$.*#!
HI
!:+;"#!F$);*-D'G"B"./@!
HH
!Q%(*080)(/(&O5/#!8=$,"*D'".'4-";79$.!
HJ
!DC.5&0)V(,#!+-)*'",'<007'C0B$9*DH!!
HN
!?(&O5/@!B==*!B=-!"OO#!+-)*'",'<007'C0B$9*DH!!
H2
!;O08Z!6-O&)*=#
! U!

7. V/08/! 0.! %=-(! 5/&)! J! /=C-.! A=-! (4(-@! 1(-.=)! =)! 5/(! 1O&)(5#^H>! $..C(.! .C8/! &.! 5/0.! =)(! &-(! 1O&'C0)'!
%=5/(-.!=A!5/(!'-(&5(-!D&)!B-&)80.8=!&-(&!V/=!&-(!*(.1(-&5(!5=!%&Z(!5/(0-!Z0*.!*-=1!5/(!8=)5-=OO(-.!&)*!
1O&@!=C5.0*(!0)!5/(!.C)#!9/(!:+;"!'C0*(.!A&%0O0(.!=)!/=V!5=!O04(!/(&O5/0(-!,@!,-0)'0)'!A&%0O0(.!5='(5/(-!
&)*! =AA(-0)'! 5/(%! )=5! =)O@! 1/@.08&O! 8O&..(.[! ,C5! &O.=! (*C8&50=)&O! 1-='-&%.! 1-=%=50)'! /(&O5/0(-!
*(80.0=).#! 9/(! :+;"! &O.=! .C11=-5.! 5/(! S/05(! ?=C.(l.! )&50=)V0*(! 8&%1&0')! ma(5l.! +=4([m! 5=! A0'/5!
8/0O*/==*!=,(.05@#HU!
!
,:3'-9+H$(0:)('1'9'&.+
]K040)'!,&8Z!&)*!1-=40*0)'!.C11=-5!5=!=C-!)(0'/,=-.#^HE!
!
9/-=C'/! .=80&O! .(-408(.[! 'O=,&O! .(-408(.[! 4=OC)5((-0.%! &)*! '040)'[! &)*! &*4=8&8@! 5/(! :+;"! 8-(&5(.! &!
.5-=)'(-!.=80(5@!V/(-(!1(=1O(!)=5!=)O@!-(8(04([!,C5!8&)!&O.=!/(O1!=5/(-.!0)!5/(0-!8=%%C)05@#!".!&!'O=,&O!
=-'&)0<&50=)! V05/! O=8&O! 1-(.()8([! 5/(! :+;"! .5(1.! 0)! 5=! 0%1-=4(! 8=)*050=).! V/(-(! .=80(5@! &)*!
0).505C50=).! /&4(! A&0O(*#! 9/(! :+;"! )=5! =)O@! V=-Z.! A=-! 0)*040*C&O.! V05/! 1-=,O(%.! .C8/! &.! (%1O=@%()5!
&)*! .C,.5&)8(! &,C.([! ,C5! &.! &! O&-'(! =-'&)0<&50=)! 05! 0.! &O.=! &,O(! 5=! =-'&)0<(! '-&..-==5.! (AA=-5.! &)*!
0)AOC()8(!1C,O08!1=O08@!8=)8(-)0)'!5/(.(!0..C(.!&5!&!*((1(-!O(4(O#!S05/=C5!5/(!/C)*-(*.!=A!5/=C.&)*.!=A!
4=OC)5((-.!&)*!%&)@!*=)=-.[!5/(!:+;"!V=CO*!)=5!,(!5/(!=-'&)0<&50=)!05!0.!5=*&@#!!
!
G>+L4<!+,-)+P%-)3'(3:+
B&85.!!!!!
+++++++++++
9/(!:+;"!=A!D&)!B-&)80.8=!b:+;"!=A!DBc!/&.!.(-4(*!5/(!3&@!"-(&!A=-!%=-(!5/&)!H>I!@(&-.#HR!9/-=C'/!05.!
H2!O=8&50=).!0)!+&-0)[!D&)!+&5(=[!&)*!D&)!B-&)80.8=!8=C)50(.!5/(!:!=AA(-.!.(-408(.!.C8/!&.!1-(Y.8/==O.[!
.()0=-! 8()5(-.[! %&..&'(! 5/(-&10.5.[! 1(-.=)&O! 5-&0)(-.! (58#! 5=! &! V0*(! 8-=..! .(850=)! =A! 1(=1O(#! $5.! >I!
8/0O*8&-(!.05(.!.(-4(!=4(-!>[III!8/0O*-()!(4(-@!@(&-#!!
!
B=-!A&%0O0(.[!5/(!:+;"!=A!DB!=AA(-.hHF!
!
• G&-()5n;/0O*! G-='-&%.! i! ;O&..(.! 5/&5! 8/0O*! &)*! 1&-()5! 5&Z(! 5='(5/(-! .C8/! &.! 5=**O(-! .V0%!
O(..=).[!V/08/!1-=%=5(!0)5(-'()(-&50=)&O!,=)*.!&)*!8=%%C)05@!.=80&O0<&50=)#!!
• D=80&O!D(-408(.!i!+()5=-!1-='-&%.!.C8/!&.!%()5&O!/(&O5/!.(-408(.!&)*!.Z0OO!,C0O*0)'!8O&..(.#!!
• a08().(*!;/0O*8&-(!i!"!)C-5C-0)'!&)*!.50%CO&50)'!()40-=)%()5!A=-!8/0O*-()!.C8/!&.!1-(Y.8/==O.#!!
• B&%0O@!;&%1.!i!"5!;&%1!g=)(.!KCO8/!0)!5/(!D&)5&!;-C<!+=C)5&0).!A&%0O0(.!8&)!()7=@!)&5C-(!&)*!
1&-50801&5(!0)!&8504050(.!.C8/!&.!/0Z(.[!8&)=(0)'[!&)*!&-5.!&)*!8-&A5.#!!
• B&%0O@! G-='-&%.! i! DC8/! &.! *&5(! )0'/5.! A=-! 1&-()5.! &)*! A&%0O@! AC)! )0'/5.! 5/&5! .5-()'5/().!
A&%0O0(.!&.!&!V/=O(#!!
• ;/0O*S&58/!i!"!.C1(-40.(*!1-='-&%!V/(-(!Z0*.!8&)!,(!*-=11(*!=AA!V/0O(!1&-()5!V=-Z.!=C5#!
!
!
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
H>
!6)O0)(!Q%,&#!
HU
!:+;"#!E$I,'J$;$),$,#!!
HE
!:+;"#!%0?");'J$,C0.,"=";"*D@!
HR
!:+;"#!2345'0<'%).'&9).?",?0#!!!
!:+;"!DB#!+-)*'+$'8<<$9'K'&09'&)#";"$,!
HF
! E!

8. B=-!%=5/(-.n&*CO5.[!5/(!:+;"!=A!DB!=AA(-.hJI!
!
• e=OC)5((-0)'!i!e=OC)5((-.!&-(!1&-5!=A!&!)=)Y1-=A05!=-'&)0<&50=)!V05/!&!40.0=)!=A!,C0O*0)'!.5-=)'!
Z0*.[!.5-=)'!A&%0O0(.[!&)*!.5-=)'!8=%%C)050(.#!
• Q%1O=@%()5! 611=-5C)050(.! i! 9/(! :+;"! =A! D&)! B-&)80.8=! 0.! =)(! =A! 5/(! O&-'(.5! )=)Y1-=A05!
=-'&)0<&50=).!0)!5/(!&-(&!V05/!&!4&-0(5@!=A!7=,!=11=-5C)050(.#!!Q%1O=@((.!8&)!5/-04(!0)!&!4&OC(.Y
,&.(*!()40-=)%()5!&)*!,C0O*!&!,(55(-!AC5C-(!A=-!5/(%.(O4(.#!
• D1=-5.! &)*! d(8-(&50=)! i! "! V0*(! 4&-0(5@! =A! @=C5/! .1=-5.! A=-! (4(-@! &'(! -&)'(! V05/! &! 1-0=-05@! =)!
A&%0O@!0)4=O4(%()5[!/(&O5/@!8=%1(5050=)[!5(&%!,C0O*0)'[!0)*040*C&O!*(4(O=1%()5[!&!1=.0504(!.(OAY
0%&'([!&)*!%C5C&O!-(.1(85!A=-!=5/(-.#!
• "*CO5! "`C&508.! i! "`C&508! 1-='-&%.! A=-! (4(-@! .Z0OO! O(4(O! &)*! 0)5(-(.5#! S&5(-! .&A(5@[! .Z0OO!
*(4(O=1%()5[!&)*!AC)!A=-!(4(-@=)(#+!
• G(-.=)&O!9-&0)0)'!i!G-=A(..0=)&O!0).5-C850=)!A-=%!&!)&50=)&OO@!8(-50A0(*!1(-.=)&O!5-&0)(-#!
• K-=C1!Qf(-80.(!i!P&0O@!8O&..(.!.C8/!&.!;C,&)!.&O.&[!oC%,&[!.10))0)'[!&)*!@='&#!
• B&80O05@! d()5&O.n30-5/*&@! G&-50(.! i! ;=)A(-()8(! -==%! &)*! ,C.0)(..! %((50)'! &88=%%=*&50=).!
=AA(-(*!5/-=C'/!5/(!:+;"!DB#!!
• d(.0*()5!;&%1!&5!g=)(.!KCO8/!i!"*CO5.!8&)!()7=@!)&5C-(!&)*!0)4=O4(!0)!&8504050(.!.C8/!&.!/0Z(.[!
8&)=(0)'[!&)*!&-5.!&)*!8-&A5.#!!
!
B=-!Z0*.[!5/(!:+;"!=A!DB!=AA(-.hJH!
!
• +()5=-0)'! G-='-&%.! i! "0%(*! &5! 8/0O*-()! UYH2! 5=! 0%1-=4(! 0%1-=40)'! &8&*(%08! 1(-A=-%&)8([!
1(-.=)&O! .=80&O! .Z0OO.[! &)*! -(O&50=)./01.! V05/! &C5/=-05@! A0'C-(.! (58#! S((ZO@! %((50)'! V05/! /0'/O@!
5-&0)(*!%()5=-.#!
• a08().(*! ;/0O*8&-(! i! "! )C-5C-0)'! &)*! .50%CO&50)'! ()40-=)%()5! V/(-(! 8/0O*-()! (f1(-0()8(! &!
8C--08COC%!-08/!0)!8=')0504(!&)*!8-(&504(!.Z0OO!,C0O*0)'#+
• G&-()5n;/0O*! G-='-&%.! i! ;O&..(.! 5/&5! 8/0O*! &)*! 1&-()5! 5&Z(! 5='(5/(-! .C8/! &.! 5=**O(-! .V0%!
O(..=).[!V/08/!1-=%=5(!0)5(-'()(-&50=)&O!,=)*.!&.!V(OO!&.!8=%%C)05@!.=80&O0<&50=)#!!
• "A5(-.8/==O! G-='-&%.! i! ;/0O*-()! '(5! &..0.5&)8(! V05/! 5/(0-! /=%(V=-Z! A-=%! 5-&0)(*! :+;"! .5&AA!
&)*!A=-%!O=)'YO&.50)'!A-0()*./01.!5/&5!()/&)8(!5/(0-!*(4(O=1%()5[!'-=V5/[!&)*!.(OAY8=)A0*()8(#+
• G-(Y.8/==O! i! ;/0O*-()! (%,&-Z! =)! &! 4=@&'(! =A! O(&-)0)'! V05/! &! 8C--08COC%! 5/&5! &**-(..(.! 5/(!
*(4(O=1%()5!=A!5/(!V/=O(!8/0O*_!.10-05[!%0)*!&)*!,=*@#!
• D1=-5.!i!"!V0*(!4&-0(5@!=A!@=C5/!.1=-5.!A=-!(4(-@!&'(!-&)'(!&)*!&!1-0=-05@!=)!A&%0O@!0)4=O4(%()5[!
/(&O5/@! 8=%1(5050=)[! 5(&%! ,C0O*0)'[! 0)*040*C&O! *(4(O=1%()5[! &! 1=.0504(! .(OAY0%&'([! &)*! %C5C&O!
-(.1(85!A=-!=5/(-.#!
• p0*.! "`C&508.! i! "`C&508! 1-='-&%.! A=-! (4(-@! .Z0OO! O(4(O! &)*! 0)5(-(.5#! S&5(-! .&A(5@[! .Z0OO!
*(4(O=1%()5[!&)*!AC)!A=-!(4(-@=)(#+!
• P&@! ;&%1! i! DC%%(-! P&@! ;&%1! V05/! .C1(-40.(*! &8504050(.! 5/&5! 5(&8/! 8=-(! 4&OC(.[! 8=)AO085!
-(.=OC50=)[!&)*!O(&*(-./01!.Z0OO.#!
• d(.0*()5!;&%1!i!DC%%(-!8&%1.!A-=%!&'(.!U!5=!HU#!S0*(!-&)'(!=A!&8504050(.!0)8OC*0)'!.C-A0)'[!
/=-.(,&8Z!-0*0)'[!&)*!&-5#!
• e0.C&OnG(-A=-%0)'! "-5.! i! 611=-5C)050(.! A=-! 8/0O*-()! 5=! (f1-(..! 5/(%.(O4(.! 5/-=C'/! %C.08[!
*&)8([!&)*!=5/(-!8-(&504(!=C5O(5.#!6A5()!1&-5)(-(*!V05/!=5/(-!&-5.!,&.(*!=-'&)0<&50=).#!
• B&80O05@! d()5&O.n30-5/*&@! G&-50(.! i! ;=)A(-()8(! -==%! &)*! ,C.0)(..! %((50)'! &88=%%=*&50=).!
=AA(-(*!5/-=C'/!5/(!:+;"!DB#!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
JI
!:+;"!DB#!+-)*'+$'8<<$9'K'&09'57>;*,!
JH
!:+;"!DB#!+-)*'+$'8<<$9'K'&09'L"7,
! R!

9. !
B=-!5(().[!5/(!:+;"!=A!DB!=AA(-.hJJ!
!
• :=C5/! ;/&)8(! ?0'/! D8/==O! i! "! )=)Y5C050=)! 1-04&5(! .8/==O! A=-! :=C)'! 1(=1O([! &'(.! HUYJH#! 9/(!
8C--08COC%!(%1/&.0<(.!5/(!KQP[!A0)&)80&O!O05(-&8@[!&)*!(%1O=@%()5!-(&*0)(..!5-&0)0)'#!
• +()5=-0)'! G-='-&%! i! "0%(*! &5! 8/0O*-()! UYH2! 5=! 0%1-=4(! 0%1-=40)'! &8&*(%08! 1(-A=-%&)8([!
1(-.=)&O! .=80&O! .Z0OO.[! &)*! -(O&50=)./01.! V05/! &C5/=-05@! A0'C-(.! (58#! S((ZO@! %((50)'! V05/! /0'/O@!
5-&0)(*!%()5=-.#!
• :=C5/! &)*! K=4(-)%()5! i! D5C*()5.! &-(! ()8=C-&'(*! 5=! *(4(O=1! O(&*(-./01! .Z0OO.! &)*! .(OAY
8=)A0*()8(!5=!O&.5!&!O0A(50%([!5/-=C'/!5/(!.5C*@!=A!1C,O08!0..C(.[!*(,&5(!=A!1C,O08!1=O08@[!V-050)'!
=A!O('0.O&50=)[!&)*!&)!(f1(-0()8(!0)!5/(!D5&5(!K=4(-)%()5!1-=8(..#!!
• D=80&O! D(-408(.! i! B-=%! %()5=-0)'! 1-='-&%.! 5=! B&%0O@! d(.=C-8(! ;()5(-.[! &)*! =5/(-! *04(-.(!
.(-408(.!5=!%((5!5/(!)((*.!=A!5/(!8=%%C)05@#!
• e=OC)5((-0)'!i!e=OC)5((-.!&-(!1&-5!=A!&!)=)Y1-=A05!=-'&)0<&50=)!V05/!&!40.0=)!=A!,C0O*0)'!.5-=)'!
Z0*.[!.5-=)'!A&%0O0(.[!&)*!.5-=)'!8=%%C)050(.#!
• "A5(-!D8/==O!G-='-&%.!i!9(().!'(5!&..0.5&)8(!V05/!5/(0-!/=%(V=-Z!A-=%!5-&0)(*!:+;"!.5&AA!&)*!
A=-%!O=)'YO&.50)'!A-0()*./01.!5/&5!()/&)8(!5/(0-!*(4(O=1%()5[!'-=V5/[!&)*!.(OAY8=)A0*()8(#!
• ;=C).(O=-!0)!9-&0)0)'!i!;=C).(O=-!0)!9-&0)0)'!;$9!a(&*(-./01!1-='-&%!0.!*(.0')(*!A=-!5/(!8&%1(-!
5=!1-(1&-(!A=-!5/(0-!-=O(!&.!&!AC5C-(!8&%1!8=C).(O=-#!
• d(.0*()5!;&%1!i!DC%%(-!8&%1.!A-=%!&'(.!U!5=!HU#!S0*(!-&)'(!=A!&8504050(.!0)8OC*0)'!.C-A0)'[!
/=-.(,&8Z!-0*0)'[!&)*!&-5#!
• D1=-5.!i!"!V0*(!4&-0(5@!=A!@=C5/!.1=-5.!A=-!(4(-@!&'(!-&)'(!&)*!&!1-0=-05@!=)!A&%0O@!0)4=O4(%()5[!
/(&O5/@! 8=%1(5050=)[! 5(&%! ,C0O*0)'[! 0)*040*C&O! *(4(O=1%()5[! &! 1=.0504(! .(OAY0%&'([! &)*! %C5C&O!
-(.1(85!A=-!=5/(-.#!
• 6C5*==-!"*4()5C-(!i+"*4()5C-(!5-01.!0)!5/(!V0O*(-)(..[!Z&@&Z0)'!5-01.!(58#!A=-!5(().!5=!'-=V!&)*!
%((5!)(V!1(=1O(#!!
• 9(()! "`C&508.! i! "`C&508! 1-='-&%.! A=-! (4(-@! .Z0OO! O(4(O! &)*! 0)5(-(.5#! S&5(-! .&A(5@[! .Z0OO!
*(4(O=1%()5[!&)*!AC)!A=-!(4(-@=)(#+!
• Q%1O=@%()5! 611=-5C)050(.! i! 9/(! :+;"! =A! DB! 0.! =)(! =A! 5/(! O&-'(.5! )=)Y1-=A05! =-'&)0<&50=).! 0)!
5/(! &-(&! V05/! &! 4&-0(5@! =A! 7=,! =11=-5C)050(.#!Q%1O=@((.! 8&)! 5/-04(! 0)! &! 4&OC(.Y,&.(*!
()40-=)%()5!&)*!,C0O*!&!,(55(-!AC5C-(!A=-!5/(%.(O4(.#!
• e0.C&OnG(-A=-%0)'!"-5.! i! 611=-5C)050(.!A=-!5(().!5=!(f1-(..!5/(%.(O4(.!5/-=C'/!%C.08[!*&)8([!
&)*!=5/(-!8-(&504(!=C5O(5.#!6A5()!1&-5)(-(*!V05/!=5/(-!&-5.!,&.(*!=-'&)0<&50=).#!
• d(.0*()5!;&%1!&5!g=)(.!KCO8/!Y!"5!;&%1!g=)(.!KCO8/!0)!5/(!D&)5&!;-C<!+=C)5&0).!A&%0O0(.!&)*!
5(().!8&)!()7=@!)&5C-(!&)*!0)4=O4(!0)!&8504050(.!.C8/!&.!/0Z(.[!8&)=(0)'[!&)*!&-5.!&)*!8-&A5.#!!
!
+(%,(-./01!B((.!
!
9/(! %(%,(-./01! A((.! =A! 5/(! :! 4&-@! *(1()*0)'! =)! /=V! %C8/! &88(..! 0.! *(.0-(*#! 9/(-(! 0.! &! =)(50%(!
&*%0)0.5-&50=)n7=0)!A(([!5/()!&!%=)5/O@!A((!1-08(*!&88=-*0)'!5=!5/(!5@1(!=A!%(%,(-./01!&)*!O=8&50=)!=A!
*(.0-(*!A&80O050(.#!".!&!A&80O05@!%(%,(-!=A!5/(!:[!1&-50801&)5.!V0OO!/&4(!&88(..!5=!1-='-&%.[!.(-408(.[!&)*!
&8504050(.#!9/0.!5@1(!=A!%(%,(-./01!0)8OC*(*!5/(!C.(!=A!5/(!()50-(!A&80O05@!bA05)(..!8()5(-.!V05/!8&-*0=!&)*!
.5-()'5/! (`C01%()5[! '-=C1! (f(-80.(! 8O&..(.[! 5/(! ,&.Z(5,&OO! 8=C-5[! &)*! 5/(! 1==Oc[! &.! V(OO! &.! -(*C8(*!
1-080)'!A=-!A((Y,&.(*!1-='-&%.!b(#'#!.V0%!O(..=).!&)*!8&%1.c#!!!
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
JJ
!:+;"!DB#!+-)*'+$'8<<$9'K'&09'!$$.,!
! F!

10. !
"*CO5! qUNn%=)5/! qN>!"*%0)!B((!
"*CO5!D"+r! qE>n%=)5/! qN>!"*%0)!B((!
"*CO5!3"+r! qEUn%=)5/! qFF!"*%0)!B((!
:=C5/!"**Y6)!bH2!i!HE!@-.c! qHUn%=)5/! !
B&%0O@! qHI>n%=)5/! qN>!"*%0)!B((!
B&%0O@!D"+r! qHJ>n%=)5/! qN>!"*%0)!B((!
B&%0O@!3"+r! qHJUn%=)5/! qFF!"*%0)!B((!
B&%0O@!"**Y6)! q2Un%=)5/! !
D()0=-!bU>s!@-.c! q>Nn%=)5/! qN>!"*%0)!B((!
:=C)'!"*CO5!bHR!i!J>!@-.c! q2>n%=)5/! qN>!"*%0)!B((!
9(()!bH2!i!HE!@-.c! qJ>n%=)5/! qN>!"*%0)!B((!
9(()!D"+r! q2In%=)5/! qN>!"*%0)!B((!
!
rD"+h!D&)!B-&)80.8=!"-(&!%(%,(-./01!0)8OC*(.!H>!:+;".!0)!D&)!B-&)80.8=[!D&)!+&5(=[!&)*!+&-0)#!
r3"+h!3&@!"-(&!+(%,(-./01!0)8OC*(.!)(&-O@!NI!:+;".!0)8OC*0)'!3(-Z(O(@!&)*!6&ZO&)*#!
!
G-='-&%!+(%,(-./01!=)!5/(!=5/(-!/&)*[!&OO=V.!1&-50801&)5.!5=!/&4(!&88(..!5=!1-='-&%.!&)*!&8504050(.[!
,C5!V0OO!)=5!/&4(!&88(..!5=!5/(!%&0)!A&80O050(.!&)*!&%()050(.!=A!5/(!:#!9/0.!0.!&)!&))C&O!%(%,(-./01#!
!
$)*040*C&O!G-='-&%!+(%,(-./01! q>In@(&-!
B&%0O@!G-='-&%!+(%,(-./01! qE>n@(&-!
!
B=-!%=-(!5/&)!H>I!@(&-.!5/(!:!/&.!.(-4(*!.=80(5@!5/-=C'/!*0AA(-()5!1-='-&%.!&)*!/&4(!,(()!&!1O&8(!A=-!
1(=1O(! 5=! 8=%(! 5='(5/(-#! $5! %((5.! 0)*040*C&O.[! A&%0O0(.[! &)*! 8=%%C)050(.! *0AA(-()5! )((*.! 0)! 4&-0=C.!
V&@.[!0)8OC*0)'!&!V0*(!-&)'(!=A!1-='-&%.!A-=%!.1=-5.!5=!8=C).(O0)'#!9/(!:!0.!%=.5O@!Z)=V)!A=-!05.!'@%!
A&80O050(.!&)*!.1=-5!&8504050(.[!&)@5/0)'!,(@=)*!5/0.!V05/0)!5/(!=-'&)0<&50=)!8&)!.=%(50%(.!,(!8=)AC.0)'h!!!
!
G(-8(150=).!=A!:+;"!=A!D&)!B-&)80.8=!!
+
G-0%&-@!-(.(&-8/!V&.!A0-.5!8=)*C85(*!5/-=C'/!.C-4(@.!=)!DC-4(@+=)Z(@#8=%!5=!/(O1!0)A=-%!5/(!AC5C-(!
`C&O05&504(! -(.(&-8/! A=-! 5/0.! 1-=7(85! b.((! "11()*0f! Hc#! 9/(! '=&O! =A! 5/0.! 0)050&O! =)O0)(! .C-4(@! V&.! 5=!
(.5&,O0./! (f1(85&50=).! &)*! O(4(O! =A! 0%1=-5&)8(! 8(-5&0)! '@%! =AA(-0)'.! /&*! =)! 5/(! 5&-'(5.! %(%,(-./01!
.5&5C.#! S/()! 5/0.! V&.! *(5(-%0)(*[! AC-5/(-! 1-0%&-@! -(.(&-8/! V&.! '&5/(-(*! A-=%! 4&-0=C.! .1=5.!
5/-=C'/=C5!5/(!3&@!"-(&!bD((!"11()*0f!J!A=-!&!*(5&0O(*!O0.5!=A!`C(.50=).c#!+CO501O(!,-&)8/(.!V(-(!40.05(*!
0)8OC*0)'! D5=)(.5=V)! :+;"[! +0..0=)! :+;"[! Q%,&-8&*(-=! :+;"[! &)*! 3&@40(V! ?C)5(-.! G=0)5! :+;"#!
9/(.(! .1(80A08! O=8&50=).! '&4(! &! ,(55(-! C)*(-.5&)*0)'! =A! 5/(! 4&-0=C.! 1-='-&%.! &)*! =11=-5C)050(.! 5/&5!
V(-(!=AA(-(*!5=!%(%,(-.!&)*!)=)Y%(%,(-.!0)!5/(!.C--=C)*0)'!8=%%C)05@#!$)5(-40(V.!V(-(!'&5/(-(*!
A-=%! 5-&AA08! ()5(-0)'! &)*! O(&40)'! 5/(.(! A&80O050(.[! &.! V(OO! &.! (%1O=@((.#! 9/(! 0)A=-%&50=)! =,5&0)(*!
1-=40*(*! 5/(! ,(.5! 0).0'/5! 5=! V/&5! CO50%&5(O@! &55-&85(*! 5/(%! 5=! 5/(! :! &)*! 8=)40)8(*! 5/(%! 5=! -(%&0)!
%(%,(-.#!"A5(-!40.050)'!5/(!,-&)8/(.[!0)5(-40(V.!V(-(!8=)*C85(*!0)!1C,O08!&-(&.!0)8OC*0)'!&!1&-Z!)(&-!
"9t9!,&.(,&OO!A0(O*[!&!D&A(V&@!1&-Z0)'!O=5[!&)*!4&-0=C.!1(=1O(!V&OZ0)'!,@!V/=!&11(&-(*!5=!A05!5/(!5&-'(5!
%&-Z(5#! 9/0.! %(5/=*! 1-=4(*! 5=! ,(! 5-08Z0(-! 5/&)! A0-.5! &)50801&5(*[! &)*! &! .%&OO! )C%,(-! =A! .C88(..ACO!
0)5(-40(V.! V(-(! =,5&0)(*#! "**050=)&O! 0)5(-40(V.! V(-(! =,5&0)(*! &5! D&)! B-&)80.8=! D5&5(! M)04(-.05@! A-=%!
4&-0=C.! =AA08(! -(1-(.()5&504(.! &)*! .(8-(5&-0(.#! +=.5! =A! 5/(.(! V=%()! V(-(! )=5! %(%,(-.! =A! 5/(! :! &)*!
1-=40*(*! 0).0'/5.! &,=C5! 8=%1(505=-.! 0)! 5/(! &-(&#! 9/(! %&7=-05@! =A! 5/(! 1-0%&-@! -(.(&-8/! V&.! '&5/(-(*!
! HI!

11. A-=%!1/=)(!&)*!(Y%&0O!8=)4(-.&50=).!V05/!A(%&O(!)C-.(.!=A!O=8&O!/=.105&O.!V/=!V(-(!,=5/!%(%,(-.!&)*!
)=)Y%(%,(-.! =A! '@%.[! 0)8OC*0)'! 5/(! :#! $)! 5=5&O[! &11-=f0%&5(O@! >I! 0)5(-40(V.! V(-(! 8=)*C85(*! V05/!
A(%&O(!%(%,(-.!&)*!)=)Y%(%,(-.!=A!5/(!:+;"#!!!
++
8%:?19$"+L:?&D+
+
B-=%!1-0%&-@!-(.(&-8/!05!V&.!A=C)*!5/&5!V/0O(!%&)@!%=5/(-.!/&*!1-(40=C.!Z)=VO(*'(!&,=C5!5/(!:+;"[!
%&)@!V(-(!C)&V&-(!&,=C5!5/(!4&-0(5@!=A!1-='-&%.!&)*!(f1(-0()8(.!5/&5!5/(!:!8&)!*(O04(-!5=!)=5!=)O@!
5/(%[! ,C5! 5/(0-! 8/0O*-()! &)*! A&%0O0(.! &.! V(OO#! G(-8(150=).! .((%(*! 5=! ,(! .1O05! 0)5=! 5V=! 4(-@! *0AA(-()5!
=10)0=).#!D=%(!,(O0(4(!5/&5!5/(!:!V&.!=)O@!&!1O&8(!A=-!,&*!Z0*.!5=!.5-&0'/5()!=C5!&)*!O(&-)!5=!,(55(-!&)*!
&*4&)8(!5/(%.(O4(.!0)!5/(!8=%%C)05@[!V/0O(!=5/(-.!A&0O(*!5=!-(&O0<(!5/(!5-C(!1=5()50&O!&)*!.8=1(!=A!:!
A&80O050(.#!+&)@!,(O0(4(*!5/&5!5/(!:!V&.!7C.5!&)!&A5(-!.8/==O!A&80O05@!5/&5!V&.!&AA0O0&5(*!V05/!,(55(-0)'!5/(!
8=%%C)05@! ,@! .5-&0'/5()0)'! =C5! &)*! *0.801O0)0)'! *0AA08CO5! 8/0O*-()! &)*! 5(()&'(-.#! +=5/(-.! V(-(!
8=)8(-)(*! &,=C5! &AA0O0&50)'! 5/(%.(O4(.! &)*! 5/(0-! A&%0O0(.! V05/! 5/(.(! ]1-=,O(%! 8/0O*-()#^! +&)@! A(&-(*!
5/&5! 5/(! V-=)'! 0%1-(..0=)! V=CO*! -C,! =AA! =)! 5/(%! 0)! &! )('&504(! V&@#! 9/0.! =AAY1C550)'! 0*(&! %&*(! 05!
(f5-(%(O@!*0AA08CO5!A=-!%=5/(-.!5=!=4(-O==Z[!&)*!5/C.!%&*(!05!&)!(f5-(%(O@!C)&11(&O0)'!=150=)!A=-!5/(0-!
A&%0O0(.#!
!
+&)@! %=5/(-.! V(-(! )=5! &V&-(! =A! 5/(! 1-='-&%.! 5/(! :! =AA(-.! A=-! 8/0O*-()! &)*! 5(()&'(-.! =A! &OO! &'(.! 5=!
AC-5/(-! 5/(0-! (*C8&50=)! &)*! &OO=V! 5/(%! 5=! (f8(O! 0)! .1(80A08! &8504050(.#! 9/(-(! 5-CO@! 0.! .=%(5/0)'! A=-!
(4(-@=)(h!A-=%!;Gdn"QP!8(-50A08&50=)!8O&..(.[!4&-0=C.!5&(!ZV=)!*=!&)*!5(&%!.1=-5.[!&.!V(OO!&.!%CO501O(!
4=OC)5((-0)'!=11=-5C)050(.[!&.!V(OO!&.!.(&.=)&O!8&%1!(f1(-0()8(.#!9/(!1-='-&%.!&-(!.(5!C1!0)!&!V&@!5/&5!
&OO=V.!(4(-@=)(!5=!1&-50801&5(#!D=%(!=A!5/(!8&%10)'!&)*!5(&%!.1=-5.!(4()!&OO=V!1&-50801&)5.!5=!5&Z(!=)!
&!O(&*(-./01!-=O(!&5!4&-0=C.!50%(.#!9/0.!5@1(!=A!8C--08COC%!8&)!,(8=%(!(f5-(%(O@!4&OC&,O(!&)*!,()(A080&O!
V/()!&11O@0)'!5=!8=OO('(.!&)*!(4()!7=,.!O&5(-!=)!0)!O0A(#!D=%(!%=5/(-.!V(-(!&.5=)0./(*!5=!/(&-!&,=C5!
5/(!.8=1(!=A!5/(.(!=AA(-0)'.!&)*!-('-(55(*!)=5!O(&-)0)'!%=-(!&,=C5!5/(!:!.==)(-#!!
!
!
4$A1$%(D'0+P$$(+
+
+&)@! %=5/(-.! V(-(! 4(-@! C)&V&-(! &,=C5! 5/(! %&)@! *0AA(-()5! 1-='-&%.! 5/&5! 5/(! :! =AA(-(*! &,=4(! &)*!
,(@=)*!5/(!.V0%!&)*!'@%!8&1&,0O050(.!=A!5/(!:#!9/(.(!%=5/(-.!V(-(!0%%(*0&5(O@!5C-)(*!=AA!,@!5/(!1-08(!
=A! %(%,(-./01! A=-! /(-! A&%0O@[! &)*! %&*(! 5/(%! 0%%(*0&5(O@! -CO(! 5/(%! =C5! =A! 5/(! 8/=08(! .(5! &.! &! '@%!
=150=)#! M1=)! O(&-)0)'! =A! (4(-@5/0)'! 0)8OC*(*! 0)! 5/(! %=)5/O@! %(%,(-./01[! %&)@! %=5/(-.! &'-((*! 5/&5!
5/(!4&OC(!V&.!A&-!.C1(-0=-!5=!&)@!=5/(-!A&80O050(.!0)!5/(0-!&-(&.#!!!
+
+
,Q'A+-)"+R.A+
!
"A5(-!0)5(-40(V0)'!5/-((!&AAOC()5!%=5/(-.!0)!5/(!&-(&!V05/!8/0O*-()!FYHU!@(&-.!=O*!05!V&.!=,.(-4(*!5/&5!
5/(!%=5/(-.!V(-(!)=5!0)5(-(.5(*!0)!7=0)0)'!5/(!:!&.!&!'@%!&.!5/(@!&O-(&*@!,(O=)'(*!5=!/0'/(-Y()*!'@%.!
&)*!8OC,.!b(#'#!5/(!'@%!&5!5/(!O=8&O!8=C)5-@!8OC,c#!D=%(!=A!5/(!1-='-&%.!=AA(-(*!,@!5/(!:!V=CO*!%=.5!
O0Z(O@!)=5!&11O@!5=!5/(0-!8/0O*-()!(05/(-[!.C8/!&.!5/(!A==*!,&)Z[!,C5!%=-(!5/(!.1=-5.!1-='-&%.#!"!8=C1O(!
=A! 5/(! 8/0O*-()! /&4(! &55()*(*! ,&.Z(5,&OO! .C%%(-! 8&%1! &5! 5/(! :+;"#! "88=-*0)'! 5=! :(O1! -(40(V.[! 5/(!
B&%0O@!:+;"!0)!D5=)(.5=V)[!D&)!B-&)80.8=[!0.!%C8/!&11-(80&5(*!&.!&!'@%!,(8&C.(!=A!05.!A-0()*O@!.5&AA[!
! HH!

12. &AA=-*&,O(! 1-08(.[! '==*! A&%0O@! *(&O.[! &)*! 8=)4()0()5! O=8&50=)#! JN! G(=1O(! A((O! 5/&5! 5/(@! 8&)! ,(!
5/(%.(O4(.!5/(-(!V05/=C5!&)@=)(!7C*'0)'!5/(%#!$5!0.!&O.=!)=5(*!&.!&!'==*!1O&8(!A=-!%=5/(-.!5=!V=-Z!=AA!
,&,@!V(0'/5#!3&.(*!=)!>U!-(40(V.[!5/(!D5=)(.5=V)!:+;"!/&.!-(8(04(*!2#>!.5&-.!=C5!=A!>!1=..0,O(#+!
!
,:3'-9+H$(0:)('1'9'&.+
!
$)5(-(.50)'O@[!5/(!(&-O0(-!%()50=)(*!&AAOC()5!%=5/(-.!5&OZ(*!&,=C5!5/(!0%1=-5&)8(!=A!8=%%C)05@!.(-408(!
&.!&!-(`C0-(%()5!A=-!5/(!8/0O*-()!5=!'(5!0)5=!8=OO('(#!".!&!%&7=-05@!=A!5/(!8/0O*-()!&-(!0)!/0'/!.8/==O!5/(!
%=5/(-.! -(4(&O(*! 5/&5! 5/(0-! 8/0O*-()! /&4(! 5=! .5&-5! 5/0)Z0)'! &,=C5! 8=OO('(! &O-(&*@! &.! A-(./%()#! 9/(!
=O*(.5! '0-O[! &! .()0=-[! -(8()5O@! 0)5(-40(V(*! A=-! &)! $4@! a(&'C(! .8/==O! &)*! )=5! =)O@! *=(.! ./(! )((*! '==*!
'-&*(.[! ,C5! &O.=! =5/(-! )=)Y.8/==O! -(O&5(*! 8-05(-0&! .C8/! &.! 8=%%C)05@! .(-408(! &)*! O(&*(-./01! &-(!
0%1=-5&)5#! $A! &)@! =A! 5/(! :.! 5/-((! 10OO&-.! V=CO*! &55-&85! 5/(.(! %=5/(-.! 05! V=CO*! %=.5! O0Z(O@! ,(! 5/(! =)(!
8()5(-(*! &-=C)*! .=80&O! -(.1=).0,0O05@#! 9/-=C'/! 4=OC)5((-0)'! &5! 5/(! :[! 5/(0-! 8/0O*-()! 8=CO*! '&0)! 5/(!
(f1(-0()8(!05!=A5()!5&Z(.!5=!'(5!0)5=!8=OO('(#!!!
!
<>+8D$+8-%*$&+!?"'$)3$+++
6C-!5&-'(5!&C*0()8(!8=).0.5.!=A!V=%()!N>Y>2!@(&-.!=O*!V05/!8/0O*-()!C)*(-!5/(!&'(!=A!HR!O040)'!&5!/=%(#!
9/(.(!%=5/(-.!V(-(!8/=.()!&.!5/(!5&-'(5!&C*0()8(!,(8&C.(!5/(@!&-(!=A5()!5/(!A&%0O@!*(80.0=)!%&Z(-.!
V/()! 05! 8=%(.! 5=! `C(.50=).! 8=)8(-)0)'! A&%0O@! &)*! /=%(! O0A(#! B=OO=V0)'! &-(! *(.8-0150=).! =A! 5/(!
1=1CO&50=)!.5&-50)'!&5!&!,-=&*!O(4(O[!K()(-&50=)!L[!&)*!)&--=V0)'!*=V)!5=!&!1-=A0O(!=A!5/(!5@108&O!V=%&)!
=A!=C-!&C*0()8(!%(%,(-h!
K()(-&50=)!L!
+
9/(!5&-'(5!&C*0()8(!V&.!,=-)!,(5V(()!HF>E!&)*!HFEU[!V/08/!%&Z(.!5/(%!%(%,(-.!=A!K()(-&50=)!L#!
K()(-&50=)!L!8=).0.5.!=A!=)O@!2U!%0OO0=)!1(=1O(!&)*!0.!.&)*V08/(*!,(5V(()!5V=!O&-'(-!'-=C1.[!5/(!,&,@!
,==%(-.! &)*! 5/(! %0OO()0&O.#J2! 9/0.! 8-(&5(.! &! V(0'/5! =)! 5/(! '()(-&50=)[! &.! 5/(@! =A5()! /&4(! 5=! .C11=-5!
,=5/! =O*(-! &)*! @=C)'(-! '()(-&50=).! 5/&5! )C%,(-! %C8/! O&-'(-! 0)! 1=1CO&50=)#! +&)@! K()(-&50=)! L!
%(%,(-.! '-(V! C1! &.! O&58/Z(@! Z0*.! V05/! *04=-8(*! 1&-()5.#J>! 9/0.! 8-(&5(*! 0)*(1()*()5! &)*! &*&15&,O(!
0)*040*C&O.[!,C5!0.!)=5!.=%(5/0)'!K()!L(-.!V&)5!5=!1&..!=)!5=!5/(0-!=V)!8/0O*-()#!$)!A&85[!K()(-&50=)!L!
%=5/(-.! &-(! %=-(! V0OO0)'! 5=! 1-(.(-4(! A&%0O@! O0A(! 5/&)! 5/(0-! %=5/(-.! V(-(_! ,&,@! ,==%! %=5/(-.#!
K()(-&50=)!L!%=5/(-.!&O.=!(f1(85!5/(0-!,=..(.!5=!C)*(-.5&)*!5/&5!%&)@!=A!5/(%!V&)5!AO(f0,O(!/=C-.[!7=,!
./&-0)'[!./=-5(-!V=-Z!/=C-.!(58#!X=5!V=-Z0)'!=C5.0*(!5/(!/=%(!0.!,(8=%0)'!&!.5&5C.!.@%,=O[!,C5!0.!)=5!
&OV&@.!A(&.0,O(!A=-!&OO!A&%0O0(.[!V/08/!%&Z(.!A&%0O@!A-0()*O@!8=%1&)0(.!(f5-(%(O@!&55-&8504(#!K()(-&50=)!
L!V=%()!&O.=!5()*!5=!1=.51=)(!%&--0&'([!/&4(!8/0O*-()!O&5(-!0)!O0A([!&)*!&-(!%=-(!A(&-ACO!=A!*04=-8(.#!!
+
+=5/(-.!0)!5/(!M#D#!
+
6)(!=A!5/(!%=.5!0%%().(!.=80&O!8/&)'(.!0)!M#D#!%=*(-)!/0.5=-@!0.!5/(!0)8-(&.(*!&%=C)5!=A!V=%()!&)*!
%=5/(-.!7=0)0)'!5/(!V=-ZA=-8(#JU!$)!HFUI[!O(..!5/&)!NI!1(-8()5!=A!%=5/(-.!V05/!8/0O*-()!C)*(-!5/(!&'(!=A!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
JN
!:(O1#!%*0.$,*0I.'&)#";D'2345#!!
J2
!D5(1/(@[!+#g#!b"1-0O!HU[!JIIRc!
J>
!G(5(-.=)[!p#!D#!b+&@!H2[!JIINc!
JU
!?=AA%&)[!a#!S#!Y!!:=C)',O&*([!a#!+#!bgC)(!JR[!HFFFc!1#!U
! HJ!

13. HR! V(-(! 0)! 5/(! O&,=-! A=-8([! 8=%1&-(*! 5=! O(..! 5/&)! NI! 1(-8()5! 5/&5! V(-(! .0*! 0)! 5/(! O&,=-! A=-8(! 0)! 5/(!
HFFI.#!64(-!50%([!V=%()!/&4(!&O.=!,(8=%(!5/(!*(80.0=)!%&Z(-!V/()!05!8=%(.!5=!A&%0O@!&)*!/=%(!O0A(!
*(80.0=).#JE!"O5/=C'/!V=%()!%0'/5!/&4(!,(8=%(!%=-(!(`C&O!5=!%()[!%()!.50OO!O&'!V=%()!0)!/=C.(V=-Z!
*C50(.hJR!
!
3&.(*! =)! JII>! *&5&[! V/08/! /&4(! ,(()! 8=%1&-(*! 5=! 5/=.(! A-=%! )&50=)&O! 50%(! *0&-0(.[!
5/(! -(.(&-8/! ./=V.! V=%()[! =A! &OO! &'(.! V05/! )=! 8/0O*-()[! =)! &4(-&'(! *=! HI! /=C-.! =A!
/=C.(V=-Z!&!V((Z!,(A=-(!%&--0&'(!&)*!HE!/=C-.!=A!/=C.(V=-Z!&!V((Z!&A5(-!%&--0&'(#!
+()! =A! &OO! &'(.! V05/! )=! 8/0O*-()[! =)! 5/(! =5/(-! /&)*[! *=! (0'/5! /=C-.! ,(A=-(! %&--0&'(!
&)*! .(4()! /=C-.! &A5(-V&-*.#! +&--0(*! V=%()! V05/! %=-(! 5/&)! 5/-((! Z0*.! -(8=-*(*! &)!
&4(-&'(! =A!&,=C5! JR! /=C-.! =A! /=C.(V=-Z!&!V((Z[!V/0O(!%&--0(*!%()!V05/!%=-(!5/&)!
5/-((!Z0*.!O=''(*!=)O@!&,=C5!HI!/=C-.!=A!/=C.(V=-Z!&!V((Z#!
!
;=%1&-&,O(!5=!5/(!,(O0(A.!=A!K()(-&50=)!L!%=5/(-.[!&O%=.5!RI!1(-8()5!=A!%()!&)*!V=%()!&'(.!JH!5=!U>!
8=).0*(-!/&40)'!&!V=-Z!.8/(*CO(!5/&5!&OO=V.!A=-!.1()*0)'!50%(!V05/!A&%0O@!&.!4(-@!0%1=-5&)5!8=%1&-(*!
5=! JN! 1(-8()5! V/=! ,(O0(4(! 7=,! .5&5C.! 0.! 4(-@! 0%1=-5&)5#JF! "O5/=C'/! 5/(-(! 0.! &! 5-()*! A=-! %=5/(-.! 5=!
(%1/&.0<(! 5/(! 1-(.(-4&50=)! =A! A&%0O@! O0A([! %&)@! %=5/(-.! 4&OC(! 5/(0-! 8&-((-.! /0'/O@[! V/08/! 8&)! 8-(&5(!
1-=,O(%.#!9/(!1-=A(..0=)&O!V=%&)!&)*!%=5/(-!=A5()!,(O0(4(.!5/&5!]&)!0*(&O!%=5/(-!0.!/0'/O@!&55()504(!
&)*!(%=50=)&OO@!&)*!1/@.08&OO@!1-(.()5!A=-!/(-!8/0O*[!&)*!./(!C.(.!&!.5@O(!=A!1&-()50)'!5/&5!0.!/&OO%&-Z(*!
,@! 5-C.5[! ,=)*0)'[! 1&50()8([! &)*! 1(-.=)&O! 8=))(850=)#^NI! 9=! 5/(! 8=)5-&-@[! ]&)! 0*(&O! 1-=A(..0=)&O! ,@!
8=-1=-&5(! .5&)*&-*.! 0.! .=%(=)(! V/=! 0.! 8=%%055(*! 5=! 5/(0-! 1-=A(..0=)[! &,O(! 5=! V=-Z! O=)'! /=C-.[!
1-=&8504(O@! ,C0O*.! %(&)0)'ACO! -(O&50=)./01.[! 0.! -(.1=).04(! 5=! (Y%&0O.! &)*! 5/(0-! 8(OO! 1/=)([! &55()*.!
)(5V=-Z0)'! (4()5.[! &)*! ,C0O*.! /0'/! 1(-A=-%0)'! 5(&%.#^! $A! &! V=%&)! ,=5/! 4&OC(.! /(-! 8&-((-! &)*! /(-!
%=5/(-/==*!./(!=A5()!A((O.!5/&5!./(!8&))=5!O04(!C1!5=!,=5/!0*(&O.[!V/08/!8-(&5(.!C)V&)5(*!.5-(..#!!!
!
+=5/(-.!0)!5/(!3&@!"-(&!
!
+=5/(-.!0)!5/(!3&@!"-(&!./&-(!8=%%=)!5-&05.!=A!"%(-08&)!K()(-&50=)!L!%=5/(-.[!,C5!&O.=!/=O*!4&OC(.!
5/&5! &-(! .1(80A08! 5=! 5/(! -('0=)! 0)! V/08/! 5/(@! O04(#! B=-! (f&%1O([! -(.0*()5.! =A! D&)! B-&)80.8=! &-(! =A5()!
-&)Z(*!&%=)'!5/(!A055(.5!0)!5/(!)&50=)#NH!S=%()!0)!5/(!3&@!"-(&!5()*!5=!V&)5!5=!.5&@!1/@.08&OO@!0)!./&1(!
&)*!.=%(!%()5&O!&)*!1/@.08&O!8=)8(-).!=A!%=5/(-.!0)8OC*(!/=V!5=!V=-Z!=AA!,&,@!V(0'/5!b(.1(80&OO@!5/(!
O=V(-!,(OO@!]1=5^c[!A0)*0)'!50%(!5=!V=-Z!=C5[!,=*@!&8/(.[!&)*!8-(&50)'!&!/(&O5/0(-!.(OAY0%&'(#NJ!!
!
$)!JIHI[!D&)!B-&)80.8=!V&.!-&)Z(*!)C%,(-!JN!=)!B=-,(..!O0.5!=A!]3(.5!;050(.!A=-!S=-Z0)'!+=5/(-.#^NN!$)!
JIIF[! 5/(! 805@! V&.! -&)Z(*! &.! )C%,(-! H>[! %(&)0)'! 5/&5! 5/(! 3&@! "-(&! 0.! ,(8=%0)'! O(..! /=.105&,O(! 5=!
V=-Z0)'! %=5/(-.#! 9/(! -&)Z0)'! 5&Z(.! 0)5=! &88=C)5! 4&-0&,O(.! .C8/! &.! V=%().! 0)8=%([! C)(%1O=@%()5[!
.1()*0)'!1(-!1C10O[!O040)'!8=.5!(58#!6A!5/(!>I!8050(.!5/&5!V(-(!-&)Z(*[!D&)!B-&)80.8=!.8=-(*!5/(!V=-.5!=)!
O040)'! 8=.5.#! G(=1O(! 0)! 5/(! 3&@! "-(&! &-(! 4(-@! (8=Y8=).80=C.! &)*! 5/(! 805@! =A! D&)! B-&)80.8=! -(8@8O(! EE!
1(-8()5!=A!5/(0-!V&.5([!V/08/!0.!5/(!)&50=).!/0'/(.5#N2!G(=1O(!&O.=!5()*!5=!,(!%=-(!O0,(-&O!8=%1&-(*!5=!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
JE
!D5#!K(=-'([!P#!bD(1#JU!JIHIc!
JR
!X&50=)&O!D80()8(!B=C)*&50=)#!4-09$'+)9,M'3$.N'+0#$.').7'F0>,$I09O#!!
JF
!G&-Z[!"#!b+&@!H>[!JIIIc!
NI
!+08/&(O[!X#!&09'C90<$,,"0.);'+0#).').7'30*-$9,N'6.?0B$9"./'1$9,0.);'P);>$,'3)D'Q.?9$),$'%*9$,,#!!
NH
!D%05/[!"#!bX=4#!U[!JIHIc!
NJ
!3C-5=)[!d#!3C0O*0)'!3=*0(.#!&"*.$,,'<09'30*-$9,@!!
NN
!1",";;0N'R@'S5>/@'TUN'VWTWX!
N2
!XC55(-[!+#!bX=4#!E[!JIHIc
! HN!

14. 5/(!-(.5!=A!5/(!)&50=)!&)*!=A5()!4=5(!P(%=8-&508#!3&.(*!=)!*&5&!A-=%!JIIR[!5/(!1=1CO&50=)!0)!5/(!3&@!
"-(&!8=).0.5.!=A!&O%=.5!E!%0OO0=)!1(=1O([!V/(-(=A!&-=C)*!NI!1(-8()5!&-(!A&%0O0(.!V05/!8/0O*-()!C)*(-!5/(!
&'(!=A!HR#N>!S/05(.!*=%0)&5(!5/(!1=1CO&50=)!&)*!?0.1&)08.!&)*!".0&).!%&Z(!C1!&!O&-'(!`C&)505@!=A!5/(!
%0)=-050(.#!9/(!&4(-&'(!1(-.=)!0)!5/(!3&@!"-(&!0.!V(OO!(*C8&5(*!&)*!5/(!D&)!g=.(YD&)!B-&)80.8=Y6&ZO&)*!
-('0=)! /&.! 5/(! 8=C)5-@.! .(8=)*! /0'/(.5! ,&8/(O=-.! &)*! %&.5(-.! *('-((! &55&0)%()5#NU! 9/(! %(*0&)!
/=C.(/=O*!0)8=%(!0)!5/(!3&@!"-(&!0.!qEI[EEJ#NE!"O5/=C'/!5/(-(!&-(!%&)@!&AAOC()5!1(=1O(!0)!5/(!-('0=)!
5/(-(! 0.! &! 4&.5! *0.1&-05@! 0)! V(&O5/! *0.5-0,C50=)#!"88=-*0)'! 5=! 5/(! JIII! ;().C.[! R#U! 1(-8()5! =A! 5/(!
1=1CO&50=)!0.!0)!1=4(-5@#NR!!
!
D0)'O(!+=5/(-.!
!
PC-0)'! 1-0%&-@! -(.(&-8/[! 05! V&.! A=C)*! 5/&5! %&)@! .0)'O(! %=5/(-.! 0)! 5/(! 3&@! "-(&! /&4(! 5=! 7C''O(!
(4(-@5/0)'! '=0)'! =)! 0)! 5/(0-! O04(.[! (4(-@5/0)'! A-=%! -&0.0)'! /(-! 8/0O*-()! 5=! V=-Z0)'! ACOO! 50%(! 5=! .C11=-5!
5/(%.(O4(.! &)*! %&0)5&0)0)'! =C5.0*(! &*CO5! -(O&50=)./01.#! "A5(-! 5&OZ0)'! 5=! .0)'O(! %=5/(-.! %CO501O(! 50%(.!
=4(-!5/(!8=C-.(!=A!.(4(-&O!%=)5/.!05!,(8&%(!&11&-()5!5/&5!5/(@!8&--@!5/(!V(0'/5!=A!5/(!V=-O*!=)!5/(0-!
./=CO*(-.[!&)*!5-@!5=!*=!5/(!,(.5!5/(@!8&)!A=-!5/(0-!8/0O*-()!V/0O(!.50OO!%&0)5&0)0)'!5/(0-!=V)!.&)05@#!9/(@!
()7=@!.1()*0)'!&.!%C8/!50%(!&.!1=..0,O(!V05/!5/(0-!8/0O*-()[!,C5!5/(@!-(&O0<(!5/&5!5/(@!)((*!5=!5&Z(!8&-(!
=A! 5/(%.(O4(.! &)*! -(8C1(-&5(! A-=%! *&@Y5=Y*&@! &8504050(.#! 6A5()! 50%(.! 5/(.(! %=5/(-.! A(O5! 'C0O5@! V05/!
.=%(! =A! 5/(0-! 1(-.=)&O! *(80.0=).[! ,C5! =4(-&OO! 5/(@! A(O5! 1-=C*! =A! 5/(0-! &88=%1O0./%()5.! ,=5/! &.! .0)'O(!
%=5/(-.!&)*!&*CO5.!0)!5/(!8=%%C)05@#!!!
!
9/(.(!.0)'O(!%=5/(-.!%&*(!05!8O(&-!5/&5!5/(@!&-(!V=-Z0)'!%=-(!5=!1-=40*(!5/(!,(.5!A=-!5/(0-!8/0O*-()[!,C5!
5/(@!A(O5!05!V&.!&!%0.8=)8(150=)!5/&5!5/(@!V(-(!C)/&11@!&,=C5!05#!$5!0.!8O(&-!5/&5!5/(@!/&4(!.&8-0A08(*!&!
O=5! A=-! 5/(0-! 8/0O*-()[! ,C5! V=CO*)5! 5-&*(! ,(0)'! &! %=5/(-! A=-! &)@5/0)'[! ,C5! 5/(0-! 8&-((-.! &-(! 4(-@!
0%1=-5&)5! 5=! 5/(%! ,=5/! A0)&)80&OO@! &)*! 1-=A(..0=)&OO@#! K=0)'! 5=! V=-Z! 0.! &)! (.8&1(! A-=%! *&0O@! %=%!
*C50(.[! &OO=V0)'! 5/(%! 5=! .5(1! =C5! =A! 5/(! %=%! -=O(! &)*! 5()*! 5=! =5/(-.#! "! .().(! =A! (%1=V(-%()5! V&.!
A=C)*!0)!5/(!V=-Z1O&8(!A=-!%=5/(-.#!9/0.!&O.=!5-&).O&5(*!5=!&8504050(.!=C5.0*(!5/(!V=-ZA=-8(!5/&5!5/(.(!
%=5/(-.!V(-(!0)4=O4(*!0)#!!+&)@!/&*!5=!%&Z(!&!8=).80=C.!(AA=-5!=)!&)!=)Y'=0)'!,&.0.!5=!%&Z(!50%(!A=-!
5/(%.(O4(.!&V&@!A-=%!5/(0-!8/0O*-()!.=!5/&5!5/(@!V(-(!&,O(!5=!-(()(-'0<(!&)*!-(Y'-=C1#!
!
+&)@! =A! 5/(! .0)'O(! %=5/(-.! .((%(*! -0'/5ACOO@! =4(-V/(O%(*! V05/! 5/(! &%=C)5! =A! *(80.0=).! &)*! 0%1&85!
5/(@! /&*! =)! 5/(0-! 8/0O*-().! O0A(#! +=5/(-.! V&)5! 5/(! 4(-@! ,(.5! A=-! 5/(%[! &)*! .5-04(! 5=! *(O04(-! 5/(! ,(.5!
V05/0)!5/(0-!%(&).#!!D0)'O(!%=5/(-.!(f1O&0)(*!5/&5!,(8&C.(!=A!5/(!8/=08(.!5/(@!/&4(!%&*(!0)!5/(0-!O04(.[!
5/(@!V&)5!5/(0-!8/0O*-()!5=!,(!&V&-(!=A!5/(!.5-C''O(.!5/(@!=4(-8&%(!&)*!5=!O(&-)!A-=%!5/(0-!%0.5&Z(.!
0).5(&*! =A! -(1(&50)'! 5/(%#! Qf1=.0)'! @=C)'! 8/0O*-()! 5=! 1=.0504(! -=O(! %=*(O.! &)*! ()8=C-&'0)'! 5/(%! 5=!
1&-50801&5(!0)!1=.0504(!&8504050(.!&-(!.=%(!=A!5/(!V&@.!5/(.(!%=5/(-.!5-@!5=!5(&8/!5/(%!5=!,(55(-!5/(0-!
O04(.#! +&)@! V=--0(*! &,=C5! )=5! ,(0)'! &-=C)*! ()=C'/[! ,C5! 5/(@! A(O5! 8=)A0*()5! 0)! 5/(! 8/=08(.! 5/(@! /&4(!
%&*(#!+&)@!.0)'O(!%=5/(-.!8&)!-(O&5(!5=!A((O0)'!=4(-V/(O%(*[!(.1(80&OO@!0)!5/(!V=-O*!5=*&@#!!!
!
S/0O(!)=5!&.!0%1=-5&)5!&.!5&Z0)'!8&-(!=A!5/(0-!A&%0O0(.[!%&)@!.0)'O(!%=5/(-.!(f1-(..(*!8=)8(-).!&,=C5!
5/(0-!O==Z.!&)*!=4(-&OO!&11(&-&)8(#!S(!O04(!0)!&!V=-O*!5=*&@!V/(-(!V(!&-(!8=).5&)5O@!7C*'(*!,@!A0-.5!
0%1-(..0=).!V/(5/(-!V(!O0Z(!05!=-!)=5#!S=%()!0)!'()(-&O!A0)*!05!&!.5-C''O(!5=!8=).5&)5O@!Z((1!C1!V05/!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
N>
!3&@!"-(&!;().C.!bJIIRc!
NU
P-(V[!g#!bD(1#!JJ[!JIIFc#!
NE
!;XX+=)(@#8=%#!Y$,*'1;)?$,'!0'G"B$'VWWU#!
NR
!3&@!"-(&!;().C.!bJIIIc
! H2!

15. (4(-Y8/&)'0)'!5-()*.!&)*!A&./0=)!A&*.[!&.!V(OO!&.!*0AA08CO5!*0(5.!5/&5!1-=%0.(!C)=,5&0)&,O(!-(.CO5.#!!D0)'O(!
%=5/(-.!&-(!)=!(f8(150=)!5=!5/0.!1-(..C-(Y!&)*!&-(!1(-/&1.!%=-(!.C.8(150,O(!5=!05!V/0O(!1&-50801&50)'!0)!
5/(!*&50)'!V=-O*#!+&)@!.0)'O(!%=5/(-.!./&-(*!.&50.A&850=)!V05/!5/(0-!O04(.[!,C5!*(.0-(*!5=!A0)*!
8=%1&)0=)./01!5=!8=%1O(5(!5/(0-!A&%0O@!C)05#!
!
G-=A0O(!=A!5/(!9@108&O!9&-'(5!$)*040*C&O!!!!
+
g())0A(-! 0.! &! NRY@(&-Y=O*! %=5/(-! =A! 5V=#! D/(! 0.! &! 1/&-%&80.5! &)*!
/(-! /C.,&)*! g(AA-(@! 0.! &! 8040O! ()'0)((-#! ?(-! A&%0O@! A&OO.! V05/0)! 5/(!
%0**O(! 5=! C11(-! %0**O(Y8O&..#! g())0A(-.! .=)! 0.! HI! @(&-.! =O*! &)*!
()7=@.! 40*(=! '&%(._! /(-! *&C'/5(-! 0.! U! &)*! 0.! 0)5(-(.5(*! 0)!
'@%)&.508.#! g())0A(-! (f1-(..(.! 5/(! 5@108&O! A((O0)'.! =A! 5/(! &4(-&'(!
3&@!"-(&!%=5/(-!i!./(!A((O.!O0Z(!&!]p0*!;&,,0(^!V/=!7C.5!108Z.!C1!
&)*!*-=1.!=AA!/(-!Z0*.[!/&.!O055O(!50%(!A=-!/(-.(OA!=-!/(-!A-0()*.!&)*!
0.! C)/&11@! V05/! /(-! 8C--()5! 1/@.08&O! &11(&-&)8(#! g())0A(-! 0.!
8C--()5O@!&!%(%,(-!=A!J2!?=C-!B05)(..[!,C5!A0)*.!05!*0AA08CO5!5=!A0)*!
5/(! 50%(! &)*! %=504&50=)! 5=! V=-Z=C5#! S=%()! O0Z(! g())0A(-! 1O&8(!
'-(&5! 0%1=-5&)8(! =)! 5/(0-! 1(-.=)&O! &)*! A&%0O@.! /(&O5/! &)*!
V(OO)(..[! ,C5! A0)*! 05! *0AA08CO5! 5=! &OO=8&5(! 5/(! 50%(! 5=! 5&Z(! 8&-(! =A!
5/(0-!=V)!/(&O5/!&)*!V(OO)(..!)((*.#!!
!
$5!0.!0%1=-5&)5!5=!C)*(-.5&)*!5/(!5&-'(5!&C*0()8(!0)!=-*(-!5=!-(&8/!=C5!5=!5/(.(!V=%()!&)*!.C88(..ACOO@!
*(O04(-! 5/(! %(..&'(#! $5! 0.! &O.=! 0%1=-5&)5! 5=! (f&%0)(! 8=%1(505=-.! V05/! 5/(! 1C-1=.(! =A! =,5&0)0)'!
0)A=-%&50=)!&,=C5!5/(%!&)*!5/(0-!=AA(-0)'.!&)*!.((Z!=C5!V/&5!*0AA(-()50&5(.!5/(!:#!+
!!!!!!!!!
B>+8D$+<:A0$&'&':)+
!
;=%1(505=-.!=A!5/(!:!8&)!,(!*040*(*!0)5=!5/-((!*0AA(-()5!'-=C1.h!
!
R%:?0+72+<:AA?)'&.+<$)&$%(S,Q'A+-)"+R.A(+
!
Q#'#!5/(!p=-(5!?(&O5/!&)*!d(8-(&50=)!;()5(-!=A!M;DB!&)*!1&-508CO&-O@!5/(!g(V0./!;=%%C)05@!;()5(-.!=A!
D&)!B-&)80.8=[!,=5/!=AA(-!1-='-&%.!.0%0O&-!5=!5/(!:.!1-='-&%.#!G-='-&%.!-&)'(!A-=%!;Gd!8=C-.(.!&)*!
.V0%!O(..=).!5=!.()0=-!V=-Z./=1.!&)*!8/0O*-().!1O&@'-=C1.#!!
!
R%:?0+52+G-('3+R.A(+
!
D0%0O&-!5=!5/(!:[!'@%.!.C8/!&.!J2!?=C-!B05)(..[!K=O*.!K@%[!&)*!;C-4(.!=AA(-!&!1O&8(!5=!V=-Z!=C5!V05/!
)=)Y(..()50&O!A(&5C-(.!5&Z()!=C5#!S/0O(!8=)*C850)'!1-0%&-@!-(.(&-8/!05!V&.!A=C)*!5/&5!5/(!%=.5!1=1CO&-!
'@%.!A=-!%=5/(-.!0)!5/(!3&@!"-(&!&-(!J2!?=C-!B05)(..!&)*!;C-4(.#!J2!?=C-!B05)(..!0.!=)(!=A!5/(!%=.5!
0)(f1().04(! '@%.! 0)! 5/(! &-(&[! &)*! =1()! &-=C)*! 5/(! 8O=8Z[! V/08/! %&Z(.! 05! (&.@! A=-! ,C.@! 0)*040*C&O.! 5=!
*-=1! 0)! V/()(4(-! &! A-((! 8/&)8(! &-0.(.#! ;C-4(.! &O.=! =AA(-.! &! 8=)4()0()5! &)*! 5/=-=C'/! V=-Z=C5! 0)! &!
V=%().!A-0()*O@!b&)*!)=)Y0)50%0*&50)'c!()40-=)%()5#!!
!
!
! H>!

16. R%:?0+@2+N'*DTU)"+R.A(+
!
$)!D&)!B-&)80.8=!&)*!+&-0)!%=-(!C1.8&O(!'@%.[!(#'#!;OC,!6)([!3&@!;OC,[!D1=-5.!;OC,!a"[!&)*!Q`C0)=f[!&OO!
=AA(-!&!%=-(!O&40./!V=-Z!=C5!(f1(-0()8(!V05/=C5!.1(80A08!1-='-&%.!A=-!8/0O*-()!&)*!A&%0O0(.#!!
!
D0)8(!5/(!=,7(8504(!=A!5/(!8&%1&0')!0.!5=!0)8-(&.(!%(%,(-./01[!=5/(-!,&.08!'@%.!&-(!8=).0*(-(*!5=!,(!
5/(! %&7=-! 8=%1(505=-.! &)*! 5/(-(A=-([! %=-(! -(.(&-8/! /&.! ,(()! 8=)*C85(*! &,=C5! 5/0.! '-=C1#! K-=C1! H[!
=5/(-!8=%%C)05@!8()5(-.[!&)*!K-=C1!N[!OCfC-@!'@%.[!/&4(!,(()!'04()!O(..!(%1/&.0.#!+=.5!%=5/(-.!5/&5!
&O-(&*@!,(O=)'!5=!&!'@%!&-(!%(%,(-.!=A!&!,&.08!'@%[!&)*!5/(!%()50=)(*!OCfC-@!'@%.!&-(!)(05/(-!A&%0O@Y
=-0()5(*!)=-!8&C.(Y*-04()#!9=!,(!&,O(!5=!8=%1(5(!&'&0).5!5/(.(!,&.08!'@%.!05!0.!8-C80&O!5=!'&0)!&!,(55(-!
C)*(-.5&)*0)'! &,=C5! 5/(%! &)*! V/&5! 5/(@! =AA(-#! B=OO=V0)'! 0.! &! *(.8-0150=)! =A! %&0)! ,&.08! '@%.! 0)! D&)!
B-&)80.8=!&)*!+&-0)h!
!
• J2!?=C-!B05)(..!
!
+=.5! =A! 5/(! '@%.! 0)! 5/(! &-(&! &-(! J2! ?=C-! B05)(..! 5?*"B$! &)*! &! A(V! J2! ?=C-! B05)(..! %C09*#! "8504(! &-(!
]%=*(-&5(O@Y.0<(*! j8OC,.k#! "5! J2! ?=C-! B05)(..! "8504(! O(4(O! 8OC,.[! j5/(! %(%,(-k! 8&)! '(5! &! ACOOY,=*@!
V=-Z=C5! 0)! %0)C5(.! ,@! C.0)'! 8&-*0=! (`C01%()5[! .5-()'5/! %&8/0)(.[! &)*! A-((! V(0'/5.#! +=.5! O=8&50=).!
&O.=!=AA(-!'-=C1!(f(-80.(!8O&..(.!5=!&**!AC)!&)*!4&-0(5@!5=!@=C-!-=C50)(#^NF!
"5!5/(!D1=-5!'@%.!%(%,(-.!8&)!]()7=@!&!V0*(!4&-0(5@!=A!A05)(..!(`C01%()5!&)*!8O&..(.#!+=.5!O=8&50=).!
=AA(-! .&C)&[! .5(&%! -==%[! &)*! V/0-O1==O[! &)*! .=%(! 8OC,.! A(&5C-(! ,&.Z(5,&OO! 8=C-5.! &)*n=-! .V0%%0)'!
1==O.#^2I!
!
D=%(! J2! ?=C-! B05)(..! O=8&50=).! =AA(-! ]p0*.! ;OC,[^! &! 1O&8(! V/(-(! 8/0O*-()! A-=%! U! %=)5/.! 5=! HJ! @(&-.!
]8&)!/&)'!=C5!V/0O(!j1&-()5k!&8/0(4(!j/(-n/0.k!A05)(..!'=&O.#2H!^p0*.!;OC,!5@108&OO@!8=.5.!qJY2!&!*&@!A=-!C1!
5=!5V=!/=C-.!=A!.C1(-40.0=)#!9/-=C'/!5/(!J2!?=C-!B05)(..!e&-.05@!G-='-&%!/0'/!.8/==O!4&-.05@!.5C*()5.!
8&)!(f(-80.(!A=-!A-((!&5!5/(!'@%.#2J!3&.(*!=)!J2!?=C-!B05)(...!V(,.05(!05!8&)!,(!C)*(-.5==*!5/&5!1(=1O(!
'=!5/(-(!5=!V=-Z!=C5[!O=.(!V(0'/5[!&)*!%((5!A-0()*.#!9/(!=-'&)0<&50=)!0.!1-04&5(O@!=V)(*!&)*!)=5!8&C.(Y
*-04()#!
!
X(&-! 5/(! B&%0O@! :+;"! =A! D&)! B-&)80.8=[! D5=)(.5=V)[! 5/(-(! 0.! &! %C09*! J2! ?=C-! B05)(..! O=8&5(*! bHR>I!
68(&)!"4()C([!D&)!B-&)80.8=c#!3&.(*!=)!NIE!:(O1!-(40(V.[!5/(!O=8&O!'@%!/&.!-(8(04(*!&)!&4(-&'(!=A!J#>!
.5&-.!=C5!=A!>!1=..0,O(!.5&-.#!S/&5!1(=1O(!8=%1O&0)!&,=C5!0.!5/(!*0AA08CO5@!=A!A0)*0)'!1&-Z0)'[!*0.'C.50)'!
O=8Z(-! -==%.[! =4(-&OO! O&8Z! =A! 8O(&)O0)(..[! 5/(! 1(-.=)&O! 5-&0)(-.[! 1(=1O(! -(Y-&8Z0)'! 5/(! V(0'/5.! 0)! 5/(!
V-=)'! V&@[! &)*! 5/&5! 05! 0.! 5==! 8-=V*(*#2N! +(%,(-.! .((%! 5=! ,(! V0OO0)'! 5=! O==Z! 1&.5! 5/0.! *C(! 5=! 5/(!
&AA=-*&,O(!%(%,(-./01!A((#!B=-!%&)@!%(%,(-.!5/(!O=8&50=)!0.!8=)4()0()5[!&)*!5/(0-!A-0()*.!'=!5/(-(!&.!
V(OO#!!
!
• K=O*.!K@%!
!
S05/!5/-((!'@%.!O=8&5(*!0)!5/(!805@!=A!D&)!B-&)80.8=[!K=O*.!K@%!=AA(-.!8O&..(.[!A-((!V(0'/5.[!5&))0)'[!
8&-*0=[!1(-.=)&O!5-&0)(-.!&.!%&)@!=5/(-!,&.08!'@%.#22!K=O*.!K@%!0.!1-04&5(O@!=V)(*!&)*!5/(0-!V(,.05(!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
NF
!J2!?=C-!B05)(..#!4;>=!!DC$,').7'5#$."*"$,!!
2I
!J2!?=C-!B05)(..#!4;>=!!DC$,').7'5#$."*"$,!!
2H
!J2!?=C-!B05)(..#!L"7Z,'4;>=!
2J
!J2!?=C-!B05)(..#!20>*-'&"*.$,,'
2N
!:(O1#!V['F0>9'&"*.$,,'8?$).@!
22
!K=O*.!K@%#!%$9B"?$,').7'5#$."*"$,'K'%835@!!
! HU!

17. ./=V.!)=!0)*08&50=).!=A!&)@!8=)5-0,C50=).!5=!5/(!8=%%C)05@!,@!5/(!'@%!=-!=AA(-!.C1(-40.0=)!=A!8/0O*-()!
V/0O(!1&-()5!V=-Z.!=C5#!9/(!D6+"!O=8&50=)!/&.!-(8(04(*!&)!&4(-&'(!=A!N#>!.5&-.!,&.(*!=)!HJH!-(40(V.!
=)!:(O1#2>!+(%,(-.!-(4(&O!5/&5!5/(!'@%!0.!.%&OO[!8-=V*(*[!A0O5/@[!/&.!A-0()*O@!.5&AA[!=AA(-.!A-((!1&-Z0)'[!
&)*!5/&5!5/(@!/&4(!/&*!5-=C,O(!V05/!5/(!,0OO0)'!.@.5(%#!"O.=[!&88=-*0)'!5=!:(O1[!5/(!D6+"!O=8&50=)!]/&.!
O=)'!,(()!&!10OO&-!=A!5/(!'&@!8=%%C)05@^!&)*!]j.C11=-5.!5/(0-k!aK39!.5&AA[!%(%,(-.!&)*!8=%%C)05@!0)!
(4(-@V&@!1=..0,O(!&)*!j05k!V0OO!8=)50)C(!5=#^!
!
• ;C-4(.!
!
;C-4(.! 0.! 1-04&5(O@! =V)(*! &)*! A=-! V=%()! (f8OC.04(O@#! 9/(! O=8&50=).! 0)! 5/(! &-(&! =AA(-! V=%()! A05)(..[!
.5-()'5/!5-&0)0)'[!&)*!V(0'/5YO=..!'C0*&)8(#!"88=-*0)'!5=!;C-4(.!V(,.05([!V=%()!&-(!()8=C-&'(*!u5=!
.C11=-5!8/&-05&,O(!8&C.(.[!O(&-)!&,=C5!/(&O5/Y-(O&5(*!0..C(.[!&)*!A=-'(!O&.50)'!A-0()*./01.!&.!1&-5!=A!5/(!
'O=,&O!;C-4(.!8=%%C)05@#^2U!;C-4(.!&O.=!1&-5)(-.!V05/!5/(!"%(-08&)!;&)8(-!D=80(5@#2E!+=.5!8C-4(.!*=!
)=5!=AA(-!%=5/(-.!&!1O&8(!A=-!5/(0-!8/0O*-()!5=!,(!V&58/(*!V/0O(!5/(!%=5/(-.!V=-Z!=C5[!&O5/=C'/!&!.(O(85!
A(V! *=! /&4(! 1O&@! &-(&.! A=-! 5/(0-! 8/0O*-()! 5=! 1O&@[! ,C5! C.C&OO@! 05! 0.! .50OO! 5/(! %=5/(-.! -(.1=).0,0O05@! 5=!
V&58/! =4(-! /(-! 8/0O*-()#! ;C-4(.! &OV&@.! 8/&)'(.! 5/(0-! %(%,(-./01! A((.! *(1()*0)'! =)! 5/(! .(&.=)! &)*!
*(1()*0)'!=)!/=V!O=)'!@=C!V&)5!5=!.0')!C1!A=-#!3C5!5/(!0)050&O!A((!0.!,(5V(()!>I!&)*!HII!*=OO&-!&)*!5/(!
%=)5/O@!A((!UI!*=OO&-.#!$A!@=C!&-(!&!A&%0O@!%(%,(-!,=5/!5/(!0)050&O!A((!&)*!5/(!%=)5/O@!A((!V0OO!,(!O=V(-#!
;C-4(.!=AA(-.!&!4&-0(5@!=A!*0AA(-()5!*(&O.!5/-=C'/=C5!5/(!@(&-#!!
!
3&.(*! =)! U! 0)5(-40(V.! =)! :(O1[! ;C-4(.! 0)! 5/(! S(.5(-)! "**050=)nX6G"! )(0'/,=-/==*! /&.! -(8(04(*! 2#>!
.5&-.!=C5!=A!>!1=..0,O(!&)*!0.!1-&0.(*!A=-!05.!A-0()*O@!8C.5=%(-!.(-408(!&)*!)08(!.5&AA#2R!;=%1O&0)5.!V(-(!
&,=C5!*0AA08CO50(.!5=!5(-%0)&5(!%(%,(-./01.#!;C-4(.!0)!5/(!G=-5=O&!*0.5-085!&)*!;C-4(.!9V0)!G(&Z.!/&4(!
-(8(04(*!=)(!-(40(V!(&8/[!&)*!,=5/!V(-(!'04()!>!.5&-.#2F!9/(!-(40(V(-.!V(-(!(.1(80&OO@!/&11@!&,=C5!5/(!
A-0()*O@!&)*!%=504&50)'!.5&AA[!0)!&**050=)!5=!AC)!%=504&50)'!8=)5()5.#!!
G-080)'!
+=.5! =A! 5/(! (&-O0(-! %()50=)(*! '@%.! V(,.05(.! =AA(-! .=%(! Z0)*! =A! 1-080)'! A=-! %(%,(-./01[! ,C5! 8=.5.!
8/&)'(!*(1()*0)'!=)!O=8&50=)!&)*!.1(80A08!O()'5/!=A!8=)5-&85!b&)@V/(-(!A-=%!V((Z!5=!V((Z!5=!&!@(&-O@!
,&.0.c#!9/(-(!&-(!&O.=!4&-0=C.!.0')YC1!A((.!&)*!8&)8(OO&50=)!A((.!5/&5!8&)!8/&)'(!'-(&5O@!*(1()*0)'!=)!
*0AA(-()5! 1-=%=50=).! &)*! 8=C1=).! -C))0)'! &5! 5/(! 50%(#!B=-! (f&%1O([! =A5()! 50%(.! &! ;C-4(.! ,-&)8/! V0OO!
5(&%! C1! V05/! &! O=8&O! 8/&-05@[! .C8/! &.! 5/(! ;=%%C)05@! B==*! 3&)Z[! &)*! V&04(.! 5/(! .0')YC1! A((.! A=-! &!
*=)&50=)! =A! 8&))(*! '==*.#! "O.=! *(1()*0)'! =)! 1(-.=)&O! 0).C-&)8(! 1-=40*(-.[! 5/(-(! %&@! ,(! %=)5/O@!
*0.8=C)5.Y!=-!=5/(-!0)8()504(.#!9/(.(!)('=50&,O(!-&5(.!%&Z(!05!/&-*!A=-!&!1-(80.(!8=%1&-0.=)#!!
!
;=%1(505=-.! %&@! ,(! &,O(! 5=! =AA(-! .0%0O&-! A&80O050(.! &5! &! O=V(-! 8=.5! =-! V05/! %=-(! 8=)4()0()5! /=C-.[! ,C5!
5/(@!8&))=5!=AA(-!&!8=%1O(5(!1&8Z&'(!5/&5!&11(&O!5=!&OO!%(%,(-.!=A!&!A&%0O@#!+&)@!=A!5/(!=5/(-!'@%.!
=)O@! &11O@! 5=! &! 1(-.=).! 1/@.08&O! /(&O5/[! &)*! &-(! )=5! &,O(! 5=! =AA(-! 1-='-&%.! A=-! %()5&O! &)*! .10-05C&O!
/(&O5/!.0%0O&-!5=!5/=.(!&4&0O&,O(!5/-=C'/!5/(!:#!!!
!
+
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
2>
!K=O*.!K@%#!%$9B"?$,').7'5#$."*"$,'K'%835@!
2U
!;C-4(.#!5=0>*'4>9B$,'K'8B$9B"$I@!!
2E
!;C-4(.#!5=0>*'4>9B$,'K'5#$9"?).'4).?$9'%0?"$*D@!!
2R
!:(O1#!4>9B$,'K'+$,*$9.'577"*"0.E815!
2F
!:(O1#!4>9B$,'K'109*0;)
! HE!

18. U>+8D$+4:(&+<:A0$99')*+G$)$;'&+ Q$+3-)+:;;$%+&D$+&-%*$&+-?"'$)3$+&:+$)3:?%-*$+
&D$A+&:+($$V+:?&+-""'&':)-9+');:%A-&':)+-1:?&+&D$+L+WXD-&Y(+')+'&+;:%+&D$AZ[++
+
9/(!:!=AA(-.!1-='-&%.!5/&5!.5-()'5/()!3&@!"-(&!0)*040*C&O.[!A&%0O0(.[!&)*!8=%%C)050(.#!
P>+XD.+,D:?9"+8D$.+G$9'$#$+8D'(Z++
+
DC11=-5!A=-!5/(!1-=%0.(*!,()(A05.!0)8OC*(h!
!
$)*040*C&O.!
+=5/(-.!V&)5!&!1O&8(!5/&5!5/(@!8&)!8=C)5!=)[!&)*!&OO=V!5/(0-!8/0O*-()!5/(!=11=-5C)05@!5=!AO=C-0./!&)*!
'-=V!V/0O(!(f1(-0()80)'!)(V!5/0)'.#!9/(@!&O.=!V&)5!.=%(!&O=)(!50%(!V/0O(!Z)=V0)'!5/(0-!8/0O*-()!&-(!
.&A(O@!O==Z(*!&A5(-!&)*!=88C10(*#!9/(!:!=AA(-.!&!ACOO!'@%!V05/!&!4&-0(5@!=A!(`C01%()5[!&.!V(OO!&.!&!-&)'(!
=A!8O&..(.!5/&5!&11(&O!5=!V=%()!=A!&OO!A05)(..!O(4(O.#!S=%()!8&)!&O.=!'&5/(-!5=!*0.8C..!8-0508&O!0..C(.!&)*!
/&-*./01.!0)!5/(0-!O0A(#!9/0.!1-=40*(.!&!.C11=-50)'!&5%=.1/(-(!A=-!1(=1O(!V05/!1-=,O(%.!5=!=1()!C1!&)*!
=4(-8=%(! 5/(%! 0)! &! /(&O5/@! %&))(-#! S/0O(! %=5/(-.! &-(! ()7=@0)'! 5/0.! -&-(! 50%(! 5=! 5/(%.(O4(.! 5/(0-!
8/0O*-()!&-(!V(OO!5&Z()!8&-(!=A!&)*!=88C10(*!V05/!AC)!(*C8&50=)&O!&)*!.=80&O!&8504050(.#!!!
!
9/(! :! =AA(-.! .10)! 8O&..(.[! V=%().! V((Z()*! '(5&V&@.[! *&5(! )0'/5.! V05/! O08().(*! 8/0O*8&-(! &)*! ACOO@!
(`C011(*!'@%!O=8&50=)._!'040)'!V=%()!50%(!5=!.5-()'5/()!5/(%.(O4(.#!
B&%0O0(.!
9/(! :! 0.! &)! =-'&)0<&50=)! 5/&5! 0.! 8=%%055(*! 5=! C)050)'! A&%0O0(.! &)*! .C11=-50)'! 5/(%! 5/-=C'/! &! V0*(!
4&-0(5@! =A! (4()5.! &)*! 1-='-&%.#! $5! /&.! =-'&)0<(*! 05.! .8/(*CO(! .=! 5/&5! (4(-@! B-0*&@! =A! 5/(! %=)5/! /&.! &!
*0AA(-()5!A&%0O@!=-0()5(*!&850405@#!DV0%!X0'/5.[!B&%0O@!3$XK6!X0'/5[!B&%0O@!+=40(!X0'/5!&.!V(OO!&.!=5/(-!
&8504050(.!&)*!1-='-&%.!&-(!8-(&5(*!5=!.5-()'5/()!A&%0O@!,=)*.#!D(&.=)&O!&8504050(.[!.C8/!&.!.1-0)'!8-&A5.!
&)*!8=O=-0)'!(''!*&@[!&-(!1O&))(*!&88=-*0)'O@!5/-=C'/=C5!5/(!@(&-#!9/(-(!&-(!&O.=!8O&..(.!&)*!1-='-&%.!
5/&5! &-(! 8&5(-(*! .1(80A08&OO@! A=-! 1&-()5.! 5=! ,C0O*! &)*! )C-5C-(! 5/(0-! -(O&50=)./01! &.! V(OO#! 9/(.(! 0)8OC*(!
4&-0=C.!8O&..(.!-&)'0)'!A-=%!A0)&)8(.!5=!.10-05C&O05@#!9/(!:!&O.=!/=.5.!&!P&5(!X0'/5!(4()!%=)5/!.=!5/&5!
1&-()5.!&-(!&,O(!5=!()7=@!.=%(!A-((!50%(!V/0O(!5/(0-!8/0O*-()!&-(!.&A(O@!V&58/(*!=4(-!&)*!()5(-5&0)(*!
A=-!5/(!(4()0)'#!!
;=%%C)050(.!
9(()! 5-C&)8@! 1-='-&%.[! 8=%%C)05@! A==*! ,&)Z.! &)*! .=80&O! (4()5.! /(O1! 5=! .5-()'5/()! 50(.! 0)! 5/(!
8=%%C)05@[! V/08/! /(O1! 0)*040*C&O.! &)*! A&%0O0(.! A((O! ,(55(-! &,=C5! 5/(0-! 8=%%C)05@! 0)4=O4(%()5! &)*!
%&Z(! 8/0O*-()! &)*! 5(().! %=-(! V(OOY-=C)*(*! A=-! 8=OO('(! &11O08&50=).#! G-='-&%.! 5/&5! A=8C.! =)! :=C5/!
P(4(O=1%()5[! D=80&O! d(.1=).0,0O05@[! &)*! ?(&O5/@! a040)'! .5-()'5/()! 0)*040*C&O.! &)*! A&%0O0(.! 0)! 5/(!
8=%%C)050(.!5/(@!.(-4(#!
R>+8:)$++
9/(!5=)(!=A!5/(!&*4(-50.0)'!)((*.!5=!%&58/!5/(!1(-.=)&O05@!=A!5/(!,-&)*!&)*!5/(!5&-'(5!&C*0()8(#!!9/(!
.(8=)*&-@!=,7(8504(!0.!5=!1=.050=)!5/(!:!&.!&!8&C.(Y*-04()!=-'&)0<&50=)[!&)*!)=5!7C.5!&!.V0%!&)*!'@%#!9/(!
5=)(!=A!5/(!&*4(-50.0)'!&O.=!/&.!5=!A=OO=V!5/(!:.!.5@O(!'C0*(!]3-0)'0)'!6C-!3-&)*!9=!a0A(!i!"!KC0*(!B=-!
! HR!

19. M.0)'! &)*! G-=5(850)'! 6C-! 3-&)*#>I^! 9=! -(&8/! 5/(! 5&-'(5! &C*0()8(! 5/(! *(.0-(*! ,-&)*! 1(-.=)&O05@! 5=! ,(!
&8/0(4(*! 0.! 5=! ./=V! 5/(! :! &.! &! V(O8=%0)'! &)*! (*C8&50=)&O! ]A((O! '==*^! ,-&)*! 5/&5! 1-=%=5(.! /(&O5/@!
O040)'[! &)*! %&Z(.! A&%0O0(.! 8=%(! 5='(5/(-! 0)! &! .&A(! ()40-=)%()5#! 9/(! C)*(-5=)(! 0.! =150%0.508! &)*!
8/((-ACO#! 9/(! ,(.5! 1(-.=)! 5=! *(O04(-! 5/0.! %(..&'(! V=CO*! ,(! &! V=%&)! N>Y>2! @(&-.! =O*! V05/! 8/0O*-()!
C)*(-!5/(!&'(!=A!HR!O040)'!&5!/=%(#!!
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
>I
!:+;"#!Y9"./"./'8>9'Y9).7'!0'G"<$'K'5'(>"7$'&09'6,"./').7'190*$?*"./'8>9'Y9).7'bgCO@!J[!JIHIc!
! HF!

20. =F>+8D$+<%$-&'#$+G%'$;+
!
!>+XD.+-%$+Q$+-"#$%&'(')*+-&+-99Z!
9=!0)8-(&.(!%(%,(-./01[!&.!%(&.C-(*!,@!0)8-(&.(*!V(,!5-&AA08[!,-&)8/!5=C-.[!&)*!1/=)(!0)`C0-0(.!5=!5/(!
:#!"O.=!5=!0)8-(&.(!&V&-()(..!=A!5/(!:!&.!&!8&C.(Y*-04()!=-'&)0<&50=)[!)=5!7C.5!&!.V0%!&)*!'@%!&.!0.!5/(!
8C--()5!1(-8(150=)!=A!5/(!5&-'(5!&C*0()8(#!
!
G>+XD:+-%$+Q$+&-9V')*+&:Z+
S(!&-(!5&-'(50)'!3&@!"-(&!V=%()!N>Y>2!@(&-.!=O*[!V05/!&!8C--()5!'@%!%(%,(-./01[!V05/!8/0O*-()!C)*(-!
5/(!&'(!=A!HR!O040)'!&5!/=%(#!9/(.(!%=5/(-.!&-(!5/(!A&%0O@!*(80.0=)!%&Z(-.!V/()!05!8=)8(-).!A&%0O@!&)*!
/=%(!O0A(#!
!
7>+P-3&(+-1:?&+&D$A>+
9/(!5&-'(5(*!V=%()!&-(!%(%,(-.!=A!K()(-&50=)!L!%(&)0)'!5/&5!5/(@!&-(!*(4=5(*!5=!5/(0-!A&%0O0(.!&)*!
5/0)Z!05!0.!0%1=-5&)5!5=!1-(.(-4(!A&%0O@!O0A(#!".!%=5/(-.!0)!5/(!M#D#[!&!%&7=-05@!=A!5/(%!&-(!0)!5/(!O&,=-!
A=-8([! ,C5! .50OO! *=! %=-(! /=C.(! 8/=-(.! &)*! .1()*! %=-(! 50%(! V05/! 5/(0-! 8/0O*-()! 5/&)! 5/(0-! /C.,&)*.#!
+=5/(-.! 0)! 5/(! 3&@! "-(&! 5/0)Z! 05! 0.! 0%1=-5&)5! 5=! .5&@! 0)! ./&1(! &)*! ,(O=)'! 5=! &! '@%#! 9/(@! 1O&8(! '-(&5!
0%1=-5&)8(!=)!5/(0-!1(-.=)&O!&)*!A&%0O@.!/(&O5/!&)*!V(OO)(..[!,C5!A0)*!05!*0AA08CO5!5=!&OO=8&5(!5/(!50%(!5=!
5&Z(! 8&-(! =A! 5/(0-! =V)! /(&O5/! &)*! V(OO)(..! )((*.#!B&%0O0(.! 0)! 5/(! &-(&! &O.=! /&4(! /0'/! O040)'! 8=.5.[! &)*!
%&)@!=A!5/(%!&-(!%0**O(!&)*!C11(-Y%0**O(!8O&..#!S/05(.!*=%0)&5(!5/(!-('0=)[!&)*!?0.1&)08.!&)*!".0&).!
%&Z(!C1!&!O&-'(!`C&)505@!=A!5/(!%0)=-050(.#!
!
5>+8D$'%+-&&'&?"$(+-)"+D:Q+&D$.+3?%%$)&9.+#'$Q+&D$+L>+
X=)Y+(%,(-.! =A! 5/(! :[! A=-! 5/(! %=.5! 1&-5[! .((%! 5=! C)*(-.5&)*! 5/(! 0%1=-5&)8(! =A! 5/(! :! V05/0)! 5/(0-!
8=%%C)05@! A-=%! 5/(0-! =V)! 8/0O*/==*! (f1(-0()8(.! V05/! 5/(! =-'&)0<&50=)! b5&Z0)'! .V0%! O(..=).[! 1O&@0)'!
,&.Z(5,&OO[! &55()*0)'! .=80&O! (4()5.! (58#c#! 9/(! 1-=,O(%! 0.[! %&)@! =A! 5/(.(! V=%()! &-(! 5C-)(*! =AA! ,@! 5/(!
1-08(! =A! %(%,(-./01! &5! 5/(! :[! &)*! /&4(! 5-=C,O(! .((0)'! 5/&5! 5/(! 4&OC(! 0)! %(%,(-./01! '=(.! ,(@=)*! &!
.V0%!&)*!'@%[!&)*!(f5()*.!0)5=!5/(0-!1(-.=)&O!&)*!A&%0O@!O0A(!&.!V(OO!&.!5/(0-!O=8&O!8=%%C)05@#!
!
<>+XD-&+'(+&D$+(')*9$+A:(&+3:A0$99')*+'"$-+Q$+)$$"+&:+3:AA?)'3-&$+&:+&D$AZ+
9/(!:!=AA(-.!1-='-&%.!5/&5!.5-()'5/()!3&@!"-(&!0)*040*C&O.[!A&%0O0(.[!&)*!8=%%C)050(.#!
!
B>+XD.+(D:?9"+&D$.+1$9'$#$+&D'(Z+
9/(! :! =AA(-.! 1-='-&%.! 5/&5! A=8C.! =)! :=C5/! P(4(O=1%()5[! D=80&O! d(.1=).0,0O05@[! &)*! ?(&O5/@! a040)'! 0)!
=-*(-!5=!.5-()'5/()!A&%0O0(.!&)*!0)*040*C&O.!0)!5/(!8=%%C)050(.!5/(@!.(-4(#!
+69?QdDh!9/(!:!=AA(-.!.10)!8O&..(.[!V=%().!V((Z()*!'(5&V&@.[!*&5(!)0'/5.!V05/!O08().(*!8/0O*8&-([!&)*!
ACOO@!(`C011(*!'@%!O=8&50=)._!'040)'!%=5/(-.!50%(!5=!.5-()'5/()!5/(%.(O4(.#!
B"+$a$QDh!9/(!:!=AA(-.!A&%0O@!AC)!)0'/5.[!8&%10)'[!&)*!=5/(-!1-='-&%.!5=!.5-()'5/()!A&%0O@!,=)*._!'040)'!
%=5/(-.!5/(!A&%0O@!50%(!5/(@!/=1(!A=-#!
;6++MX$9:h!9(()!5-C&)8@!1-='-&%.[!8=%%C)05@!A==*!,&)Z.[!&)*!.=80&O!(4()5.!/(O1!5=!.5-()'5/()!50(.!0)!
5/(!8=%%C)05@_!V/08/!/(O1!0)*040*C&O.!&)*!A&%0O0(.!A((O!,(55(-!&,=C5!5/(0-!8=%%C)05@!0)4=O4(%()5#!
!
U>+B$('%$"+1%-)"+0$%(:)-9'&.S&:)$!
9/(!:!0.!&!V(O8=%0)'!&)*!(*C8&50=)&O!]A((O!'==*^!,-&)*!5/&5!1-=%=5(.!/(&O5/@!O040)'[!&)*!%&Z(.!A&%0O0(.!
8=%(!5='(5/(-!0)!&!.&A(!()40-=)%()5#!9/(!C)*(-5=)(!0.!=150%0.508!&)*!8/((-ACO#!!
!
+
+
! JI!

21. P>+U$3?&':)-9+*?'"$9')$(]+9$*-9+%$^?'%$A$)&(]+0D:)$+)?A1$%(]+Q$1('&$(]+$&3>>>>+
"*4(-50.(%()5.!/&4(!5=!A=OO=V!5/(!:!D5@O(!KC0*(#!M)0`C(!Mda!&)*!B&8(,==Z!1&'(.!8&)!,(!8-(&5(*!A=-!5/0.!
8&%1&0')!5=!5-&8Z!&)*!A=OO=V!0)`C0-0(.!&,=C5!5/(!:#!
! JH!

22. F>+H$;$%$)3$(+
!
J2!?=C-!B05)(..#!4;>='!DC$,').7'5#$."*"$,#!!
"88(..(*h!bB(,#!HN[!JIHHc!!
/551hnnVVV#J2/=C-A05)(..#8=%n/(&O5/v8OC,.n&%()050(.n!
!
J2!?=C-!B05)(..#!L"7Z,'4;>=#!!
"88(..(*h!bB(,#!HN[!JIHHc!!
/551hnnVVV#J2/=C-A05)(..#8=%n/(&O5/v8OC,.n'@%v*&@v8&-(n0)*(f#/5%O!
!
J2!?=C-!B05)(..#!20>*-'&"*.$,,#!!
"88(..(*h!bB(,#!HN[!JIHHc!!
/551hnnVVV#J2/=C-A05)(..#8=%n-(.=C-8(.n@=C5/vA05)(..n!
!
3&@!"-(&.!;().C.!bJIIRc!!
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#,&@&-(&8().C.#8&#'=4n,&@&-(&#/5%!
!
3&@!"-(&.!;().C.!bJIIIc!
"88(..(*h!bB(,#!HN[!JIHHc!!
/551hnnVVV#,&@&-(&8().C.#8&#'=4n,&@&-(&#/5%!
!
3C-5=)[!d#!3C0O*0)'!3=*0(.#!&"*.$,,'<09'30*-$9,#!!
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#,C0O*0)',=*0(.#8&n;&-*0=nB05)(..YB=-Y+=5/(-.#./5%O!
!
;O08Z!6-O&)*=#!!
"88(..(*h!b"1-#!HN[!JIHHc!!
/551hnnVVV#8O08Z=-O&)*=#8=%!
!
;XX+=)(@#8=%#!Y$,*'1;)?$,'!0'G"B$'VWWU#!!
"88(..(*h!bB(,#!HN[!JIHHc!!
/551hnn%=)(@#8))#8=%n%&'&<0)(.n%=)(@%&'n,1O04(nJIIUn.)&1./=5.nGaIUUEIII!
!
;C-4(.#!5=0>*'4>9B$,'K'5#$9"?).'4).?$9'%0?"$*D@!!
"88(..(*h!bB(,#!HN[!JIHHc!
/551hnnVVV#8C-4(.#8=%n&,=C5Y8C-4(.n&%(-08&)Y8&)8(-Y.=80(5@#1/1!
!
;C-4(.#!5=0>*'4>9B$,'K'8B$9B"$I@!!
"88(..(*h!bB(,#!HN[!JIHHc!
/551hnnVVV#8C-4(.#8=%n&,=C5Y8C-4(.n=4(-40(V#1/1!
!
P-(V[!g#!bD(1#!JJ[!JIIFc!
9-0&)'O(!3C.0)(..!g=C-)&O#!J);$"/-]A>9-)#')9$)'9).O,'*-"97'".'6@%@'<09'40;;$/$'7$/9$$,#!'
"88(..(*h!bB(,#!HN[!JIHHc!!
/551hnnVVV#,0<7=C-)&O.#8=%n5-0&)'O(n.5=-0(.nJIIFnIFnJHn*&0O@JN#/5%OT&)&w55NJ2>!
!
! JJ!

23. Q%(*080)(/(&O5/#!8=$,"*D'".'4-";79$.!
"88(..(*h!bB(,#!H[!JIHHc!
/551hnnVVV#(%(*080)(/(&O5/#8=%n=,(.05@v0)v8/0O*-()n&-508O(v(%#/5%!
!
K=O*.!K@%#!%$9B"?$,').7'5#$."*"$,'K'%835@!!
"88(..(*h!bB(,#!HN[!JIHHc!!
/551hnnVVV#'=O*.'@%#8=%n'@%.n8&O0A=-)0&n.&)YA-&)80.8=n2IRn1&'(nRFRRnNN>H!
!
?(&O5/@!B==*!B=-!"OO#!+-)*'",'<007'C0B$9*DH!!
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#/(&O5/@A==*A=-&OO#8=%nV/&5v0.vA==*v1=4(-5@#/5%!
!
?=AA%&)[!a#!S#!Y!!:=C)',O&*([!a#!+#!bgC)(!JR[!HFFFc!30*-$9,')*'+09OM'^<<$?*,'0.'4-";79$._,'+$;;]Y$"./@!
;&%,-0*'(!M)04(-.05@!G-(..!'
!
$)A=1O(&.(#!30*-$9,'=D'*-$'E>#=$9,#!!
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#0)A=1O(&.(#8=%n.1=5n%=%8().C.H#/5%O!
!
+08/&(O[!X#!&09'C90<$,,"0.);'+0#).').7'30*-$9,N'6.?0B$9"./'1$9,0.);'P);>$,'3)D'Q.?9$),$'%*9$,,#!'
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#.C,%05@=C-&-508O(#8=%n&-508O(.nX&5&O0(Y+08/&(OE>2UnQf(8C504(Y;=&8/0)'YFURIF#1/1!
!
X&50=)&O!D80()8(!B=C)*&50=)#!4-09$'+)9,M'3$.N'+0#$.').7'F0>,$I09O#!!
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#).A#'=4n*0.8=4(-0(.n*0.8v.C%%#7.1T8)5)v0*wHHH2>R!
!
XC55(-[!+#!bX=4#!E[!JIHIc!9/(!K-(()!B(.504&O[!D&)!B-&)80.8=#!!
D1(&Z(-!Q4()5h!(9$$."./'*-$'^?0.0#D'K'(0B$9.#$.*Z,'J0;$#!!
!
6)O0)(!Q%,&#!!
"88(..(*h!b"1-0O!HN[!JIHHc!!
/551hnnVVV#=)O0)(%,&#8=%!
'
G&-Z[!"#!b+&@!H>[!JIIIc!90%(!Q.'Y9"$<'
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#50%(#8=%n50%(n%&'&<0)(n&-508O(nI[FHEH[FFUFNI[II#/5%O!
!
G(5(-.=)[!p#!D#!b+&@!H2[!JIINc!MD"!9=*&@#!($.'`'30#,'F)B$'Q*'!-$"9'+)D@!!
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#C.&5=*&@#8=%nO0A(nJIINYI>YIEY'()fY%=%.YC.&5vf#/5%!
!
1",";;0N'R@'S5>/@'TUN'VWTWX'%&'()*$@!Y)D'59$)'=$?0#"./';$,,'-0,C"*)=;$'<09'I09O"./'#0#,@!!
5??$,,$7M'S&$=@'TN'VWTWX''
-**CMIII@,</)*$@?0#?/"=".=;0/,0.*-$=;0?O7$*)";H$.*9Da"7bcWTde'
D%05/[!"#!bX=4#!U[!JIHIc!9/(!DC-404=-.!;OC,#!!-$'TW'F$);*-"$,*'4"*"$,'".'5#$9"?)#!'
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#5/(.C-404=-.8OC,#=-'n/(&O5/n'()(-&On&%(-08&.Y/(&O5/0(.5Y8050(.!
! JN!

24. !
D5(1/(@[!+#g#!b"1-#!HU[!JIIRc!90%(#!($.]`M'!-$'Q/.09$7'($.$9)*"0.H!!
"88(..(*h!bB(,#!H[!JIHIc!!
/551hnnVVV#50%(#8=%n50%(n&-5.n&-508O(nI[R>FF[HENH>JR[II#/5%O!
!
D5#!K(=-'([!P#!bD(1#!JU!JIHIc!S&./0)'5=)!G=.5#!+0#$.'59$'()"."./'(90>.7'Q.'&)#";D'A$?","0.'3)O"./#!!
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#V&./0)'5=)1=.5#8=%nV1*@)n8=)5()5n&-508O(nJIIRnIFnJ>n"dJIIRIFJ>I2HUE#/5%O!
!
DC.5&0)V(,#!+-)*'",'<007'C0B$9*DH!!
"88(..(*h!bB(,#!H[!JIHHc!!
/551hnnVVV#.C.5&0)V(,#=-'nA==*&88(..nV/&5v0.vA==*v1=4(-5@n!
!
:(O1#!V['F0>9'&"*.$,,'8?$).@'
"88(..(*h!bB(,#!HN[!JIHHc!!
/551hnnVVV#@(O1#8=%n,0<nJ2Y/=C-YA05)(..Y.&)!A-&)80.8=Ux`C(-@hJ2yJI/=C-yJIA05)(..yJI=8(&)z#!
!
:(O1#!4>9B$,'K'109*0;)#!!
"88(..(*h!bB(,#!HN[!JIHHc!
/551hnnVVV#@(O1#8=%n,0<n8C-4(.Y.&)YA-&)80.8=YUx`C(-@h8C-4(.yJI'@%!
!
:(O1#!4>9B$,'K'+$,*$9.'577"*"0.E815#!!
"88(..(*h!bB(,#!HN[!JIHHc!
/551hnnVVV#@(O1#8=%n,0<n8C-4(.Y.&)YA-&)80.8=YHJx`C(-@h8C-4(.yJI'@%!
!
:(O1#!%*0.$,*0I.'&)#";D'2345#!!
"88(..(*h!bg&)#!NI[!JIHHc!!
/551hnnVVV#@(O1#8=%n,0<n.5=)(.5=V)YA&%0O@Y@%8&Y.&)YA-&)80.8=!
!
:+;"#!Y9"./"./'8>9'Y9).7'!0'G"<$'K'5'(>"7$'&09'6,"./').7'190*$?*"./'8>9'Y9).7!bgCO@!J[!JIHIc!!
!
:+;"#!5=0>*'6,!!
"88(..(*h!b+&-8/!NH[!JIHHc!!
/551hnnVVV#@%8&#)(5n&,=C5YC.nx!
!
:+;"#!F$);*-D'G"B"./#!!
"88(..(*h!b+&-8/!NH[!JIHHc!!
/551hnnVVV#@%8&#)(5n/(&O5/@YO040)'n!
!
:+;"#!E$I,'J$;$),$,#!!
bB(,#!HH[!JIHHc!!
"88(..(*h!bB(,#!JR[!JIHHc!!
/551hnnVVV#@%8&#)(5n)(V.Y-(O(&.(.nJIHIIJHH!O(5.%=4(#/5%O!
!
:+;"#!89/).":)*"0.);'190<";$#!!
"88(..(*h!b+&-#!NH[!JIHHc!!
/551hnnVVV#@%8&#)(5n=-'&)0<&50=)&OY1-=A0O(n!
!
! J2!

25. :+;"#!8>9'&0?>,#!!
"88(..(*h!b+&-#!NH[!JIHHc!!
/551hnn@%8&#)(5n=C-YA=8C.n!
!
:+;"!DB#!+-)*'+$'8<<$9'K'&09'57>;*,#!!
"88(..(*h!b+&-#!NH[!JIHHc!!
/551hnnVVV#@%8&.A#=-'nV/&5vV(v=AA(-nA=-v&*CO5.!
!
:+;"!DB#!+-)*'+$'8<<$9'K'&09'&)#";"$,#!!
"88(..(*h!b+&-#!NH[!JIHHc!!
/551hnnVVV#@%8&.A#=-'nV/&5vV(v=AA(-nA=-vA&%0O0(.!
!
:+;"!DB#!+-)*'+$'8<<$9'K'&09'L"7,#!!
"88(..(*h!b+&-#!NH[!JIHHc!!
/551hnnVVV#@%8&.A#=-'nV/&5vV(v=AA(-nA=-vZ0*.!
!
:+;"!DB#!+-)*'+$'8<<$9'K'&09'!$$.,#!!
"88(..(*h!b+&-#!NH[!JIHHc!!
/551hnnVVV#@%8&.A#=-'nV/&5vV(v=AA(-nA=-v5(().!
!
:+;"#!%0?");'J$,C0.,"=";"*D#!!
"88(..(*h!b+&-#!NH[!JIHHc!!
/551hnnVVV#@%8&#)(5n.=80&OY-(.1=).0,0O05@n!
!
:+;"#!!-$'2345'".'*-$'6."*$7'%*)*$,#!!
"88(..(*h!bg&)!NI[!JIHHc!!
/551hnn@%8&#)(5n/0.5=-@nx!
!
:+;"#!2345'0<'%).'&9).?",?0#!!
"88(..(*h!b+&-8/!NH[!JIHHc!!
/551hnn@%8&.A#=-'n!
!
:+;"#!20>*-'A$B$;0C#$.*#!!
"88(..(*h!b+&-8/!NH[!JIHHc!!
/551hnnVVV#@%8&#)(5n@=C5/Y*(4(O=1%()5n!
!
!
!
! J>!

26. F=>+!00$)"'3$(+
!00$)"'+7>++
$)0505&O!DC-4(@!
!
")! 0)050&O! .C-4(@! V&.! 8=)*C85(*! 5/-=C'/! DC-4(@+=)Z(@#8=%! 5=! /(O1! 0)A=-%! 5/(! AC5C-(! `C&O05&504(!
-(.(&-8/!A=-!5/0.!1-=7(85#!9/(!'=&O!=A!5/0.!0)050&O!=)O0)(!.C-4(@!V&.!5=!(.5&,O0./!(f1(85&50=).!&)*!O(4(O!=A!
0%1=-5&)8(!8(-5&0)!'@%!=AA(-0)'.!/&*!=)!5/(!5&-'(5.!%(%,(-./01!.5&5C.#!6A!5/(!JH!-(.1=)*()5.!5=!5/0.!
.C-4(@[!HN!=A!5/(%!A05!V05/0)!5/(!5&-'(5!&C*0()8(!=A!5/(!AC5C-(!&*4(-50.(%()5.#!B-=%!5/0.!0)050&O!.C-4(@[!
V(!A=C)*!5/&5!%&)@!V=%()!0)!5/(!5&-'(5!&C*0()8(!8&-(*!%=-(!&,=C5!5/(!.V0%!&)*!'@%!=AA(-0)'.!=A!&!
'@%! 5/&)! V/&5! 5/&5! .1(80A08! '@%! *=(.! A=-! 5/(! 8=%%C)05@#! S/0O(! 05! 0.! 0)&11-=1-0&5(! 5=! .&@! 5/&5! 5/0.!
.()50%()5!-&)!5-C(!5/=C'/!&OO!-(.1=)*()5.!0)!5/(!0)050&O!.C-4(@[!%&)@!=A!5/(!-(.1=)*()5.!-&)Z(*!5/0)'.!
O0Z(!/&40)'!&!1==O!bHEnJHc[!8&-*0=!(`C01%()5!bHRnJHc!&)*!&!A&0-!1-08(!bHFnJHc!/0'/(-!5/&)!O08().(*!8/0O*!
8&-(!bHInJHc[!'-=C1!/=,,0(.!bJnJHc!=-!.=80&O!-(.1=).0,0O05@!bRnJHc#!
!
7>+XD-&+'(+.:?%+*$)"$%Z+/9$-($+($9$3&+;%:A+&D$+;:99:Q')*>>>+
!+&O(!
!B(%&O(!
!P(8O0)(!5=!D5&5(!
+
5>+XD-&+'(+.:?%+-*$Z+/9$-($+($9$3&+;%:A+&D$+;:99:Q')*>>>+
!HRYJ2!
!!J>YNH!
!NJYNR!
!NFY22!
!22s!
+
@>+XD-&+'(+.:?%+A-%'&-9+(&-&?(Z+/9$-($+($9$3&+;%:A+&D$+;:99:Q')*>>>+
!M)%&--0(*!
!+&--0(*!
!P04=-8(*!
!S0*=V(*!
!P(8O0)(!5=!D5&5(!
+
C>+N:Q+A-).+3D'9"%$)+":+.:?+D-#$Z+/9$-($+($9$3&+;%:A+&D$+;:99:Q')*>>>+
!I!
!H!
!J!
! JU!

27. !N!
!2s!
+
E>+B:+.:?+3?%%$)&9.+1$9:)*+&:+-+*.AZ+
!:(.!
!X=!
+
I>+=;+.$(]+QD'3D+*.A+":+.:?+1$9:)*+&:Z+=;+):]+09$-($+3:)&')?$+&:+_?$(&':)+`>+=;+.:?%+*.A+":$(+
):&+-00$-%+')+&D$+-)(Q$%(]+09$-($+($9$3&+aJ&D$%a>+
!J2!?=C-!B05)(..!
!3&OO@l.!9=5&O!B05)(..!
!:+;"!
!K=O*l.!K@%!
!65/(-!
+
! JE!

28. `>+/9$-($+%-)V+&D$+9$#$9+:;+'A0:%&-)3$+$-3D+:;;$%')*+D-(+:)+($9$3&')*+-+*.A+;:%+A$A1$%(D'0+
QD$%$+7+A$-)(+ab:&+=A0:%&-)&a+-)"+`+A$-)(+aF$%.+=A0:%&-)&a>+P:%+:;;$%')*(+QD'3D+.:?+-%$+
?)(?%$+:;+:%+D-#$+):+0%$;$%$)3$]+09$-($+($9$3&+C>+
+
b:&+=A0:%&-)&+ + + b:+/%$;$%$)3$+ + + F$%.+
++ + + + + + + =A0:%&-)&+
7+ 5+ @+ C+ E+ I+ `+
+
,&%$((+
H$"?3&':)+ ! ! ! ! ! ! !
<9-(($(+
R'#$(+G-3V+&:+
<:AA?)'&.+ ! ! ! ! ! ! !
,0-3':?(+
X$'*D&+H::A+ ! ! ! ! ! ! !
N-(+-+/::9+
! ! ! ! ! ! !
<-%"':+
U^?'0A$)&+ ! ! ! ! ! ! !
4$A1$%(D'0+
/$%V(+ ! ! ! ! ! ! !
R%:?0+N:11'$(+
! ! ! ! ! ! !
P:3?($(+:)+
,:3'-9+ ! ! ! ! ! ! !
H$(0:)('1'9'&'$(+
J;;$%(+
,Q'AA')*+ ! ! ! ! ! ! !
O$((:)(+
O'3$)($"+
<D'9"3-%$+ ! ! ! ! ! ! !
WQD'9$+-&+Q:%V[+
L:?&D+,0:%&(+
!3&'#'&'$(+ ! ! ! ! ! ! !
J;;$%(+
,3D:9-%(D'0(+;:%+
! ! ! ! ! ! !
<D'9"%$)+
/%'3$+
! ! ! ! ! ! !
<-A0+WB-.+c+
J#$%)'*D&[+ ! ! ! ! ! ! !
O'3$)($"+
<D'9"3-%$+
WQD'9$+Q:%V')*+ ! ! ! ! ! ! !
:?&[+
!"?9&+,0:%&(+
!3&'#'&'$(+ ! ! ! ! ! ! !
+
+
! JR!

29. !00$)"'+5>++
$)5(-40(V!WC(.50=).!A=-!+(%,(-.!
!
9/0.!0.!&!*(5&0O(*!O0.5!=A!5/(!`C(.50=).!5/&5!V(-(!&.Z(*!V/()!0)5(-40(V0)'!V=%()!A=-!1-0%&-@!-(.(&-8/#!!
9/(-(!V(-(!5V=!*0AA(-()5[!,C5!.0%0O&-[!.(5.!=A!`C(.50=).!5/&5!V(-(!&.Z(*!*(1()*0)'!=)!V/(5/(-!=-!)=5!
5/(!0)5(-40(V((!V&.!&!%(%,(-!=A!5/(!:!=-!)=5#!$5!./=CO*!,(!)=5(*!5/&5!5/(.(!`C(.50=).!.(-4(*!&.!&!,&.08!
'C0*(O0)(!A=-!5/(!0)5(-40(V[!&)*!V(-(!%(&)5!5=!Z((1!5/(!8=)4(-.&50=)!=)!5=108#!?=V(4(-[!.=%(50%(.!5/(!
`C(.50=).! &.Z(*! V&)*(-(*! &! ,05! =AA! 5/(.(! ./=V)! /(-([! 1-=1(OO(*! ,@! 4&-0=C.! 1(-.=)&O! .5=-0(.! &)*!
(f1(-0()8(.#!9/0.!0)A=-%&50=)!0.!.50OO!1(-8(04(*!&.!(`C&OO@!0%1=-5&)5!&)*!/(O1ACO!&.!1-0%&-@!-(.(&-8/#!!S(!
&OV&@.!V=-Z(*!0)!5(&%.!&)*!0)5-=*C8(*!=C-.(OA!&.!.5C*()5.!A-=%!D&)!B-&)80.8=!D5&5(!M)04(-.05@!V=-Z0)'!
5='(5/(-!=)!&!-(.(&-8/!1-=7(85!=)!5/(!,(/&OA!=A!5/(!:#!
!
7> !%$+.:?+-+A:&D$%+-*$"+@ETEC]+Q'&D+3D'9"%$)+9'#')*+-&+D:A$Z+
$A!)=h!5/&)Z!/(-!A=-!/(-!50%([!,C5!*=!)=!0)5(-40(V#!
$A!@(.h!&.Z!5/(!`C(.50=).!,(O=Vh!
+
5> N:Q+9:)*+D-#$+.:?+1$$)+-+A$A1$%+:;+&D$+LZ+
+
@> XD.+"'"+.:?+K:')+&D$+L]+:%'*')-99.Z+
+
C> XD.+":+.:?+3:)&')?$+&:+K:')Z+
ba==Z0)'!5=!.((!0A!5/(@!.5&@!A=-!*0AA(-()5!-(&.=).!5/&)!5/(@!=-0'0)&OO@!7=0)(*c!
+
E> =)+QD'3D+L+0%:*%-A(+":+.:?+-)"+.:?%+;-A'9.+0-%&'3'0-&$Z+
+
I> B:+.:?+V):Q+-).+:&D$%+0%:*%-A(+0%:#'"$"+1.+&D$+L]+-&+:&D$%+9:3-&':)(+1$('"$(+&D$+:)$+.:?+*:+
&:Z+XD'3D+:)$(Z+
+
E# S/()!./(!0.!*=)(!5(OO0)'!&,=C5!5/(!=5/(-!1-='-&%.!b0A!&)@c!5/&5!./(!0.!&V&-(!=A[!-(&*!/(-!&!O0.5!=A!
5/(!5=1!5()!1-='-&%.!1-=40*(*!b(#'#!5-C&)8@!1-='-&%.[!A==*!,&)Z[!:+;"!?0'/!D8/==O!(58#!108Z!
5/(!,(.5c!
+
d> N:Q+":$(+V):Q')*+-1:?&+&D$($+0%:*%-A(+A-V$+.:?+;$$9+-1:?&+&D$+LZ+
+
e> XD-&+Q:?9"+.:?+&$99+-):&D$%+A:&D$%+&:+3:)#')3$+D$%+&:+K:')Z+
+
76> B:+.:?+&D')V+'&+'(+'A0:%&-)&+;:%+3D'9"%$)+-)"+&$$)(+&:+1$+$0:($"+&:+3:AA?)'&.+($%#'3$+
:00:%&?)'&'$(Z+XD.SXD.+):&Z+
+
77> X%-0+?02+
9/&)Z!/(-!&)*!5(OO!/(-!5/&5!@=C!&-(!V=-Z0)'!=)!*(4(O=10)'!&)!&*4(-50.0)'!8&%1&0')!A=-!5/(!:[!
&)*!&.Z!/(-!0A!./(!V=CO*!,(!V0OO0)'!5=!5&OZ!5=!@=C!&'&0)!O&5(-!0)!5/(!.(%(.5(-#!!
!
!
!
! JF!

30. $)5(-40(V!WC(.50=).!A=-!X=)Y+(%,(-.!
!
7> !%$+.:?+-+A:&D$%+-*$"+@ETEC]+Q'&D+3D'9"%$)+9'#')*+-&+D:A$Z+
$A!)=h!5/&)Z!/(-!A=-!/(-!50%([!,C5!*=!)=!0)5(-40(V#!
$A!@(.h!&.Z!5/(!`C(.50=).!,(O=Vh!
+
5> N:Q+9:)*+D-#$+.:?+1$$)+-+A$A1$%+:;+ffffffffZ+
+
@> XD.+"'"+.:?+K:')+.:?%+*.A]+:%'*')-99.Z+
+
C> XD.+":+.:?+3:)&')?$+&:+K:')Z+
ba==Z0)'!5=!.((!0A!5/(@!.5&@!A=-!*0AA(-()5!-(&.=).!5/&)!5/(@!=-0'0)&OO@!7=0)(*c!
+
E> B'"+.:?+3:)('"$%+:&D$%+39?1(+(?3D+-(+&D$+LZ+
+
I> N:Q+Q:?9"+.:?+"$(3%'1$+.:?%+-&&'&?"$+-*-')(&+&D$+LZ+
+
`> XD-&+A-"$+.:?+"$3'"$+-*-')(&+&D$+LZ+
+
d> !%$+.:?+-Q-%$+&D-&+&D$+L+:;;$%(+:&D$%+0%:*%-A(+1$('"$(+(Q'A+-)"+*.A+0%:*%-A(Z+/9$-($+&$99+
A$+QD-&+.:?+V):Q+-1:?&+&D$($+:&D$%+0%:*%-A(>+
+
F# S/()!./(!0.!*=)(!5(OO0)'!&,=C5!5/(!=5/(-!1-='-&%.!b0A!&)@c!5/&5!./(!0.!&V&-(!=A[!-(&*!/(-!&!O0.5!=A!
5/(!5=1!5()!1-='-&%.!1-=40*(*!b(#'#!5-C&)8@!1-='-&%.[!A==*!,&)Z[!:+;"!?0'/!D8/==O!(58#!108Z!
5/(!,(.5c#!3(!1-(1&-(*!5=!1-=40*(!&**050=)&O!0)A=-%&50=)!&,=C5!5/(.(!1-='-&%.!0A!)(8(..&-@!
b=-&OO@[!V(,.05(!O0)Z.!(58c!
+
76> N:Q+Q:?9"+V):Q')*+-1:?&+&D$($+:&D$%+0%:*%-A(+'A0-3&+.:?%+&D')V')*+-1:?&+&D$+L+-(+-+(Q'A+
-)"+*.A+:0&':)]+';+-&+-99Z+
+
77> B:+.:?+&D')V+'&+'(+'A0:%&-)&+;:%+3D'9"%$)+-)"+&$$)(+&:+1$+$0:($"+&:+3:AA?)'&.+($%#'3$+
:00:%&?)'&'$(Z+XD.SXD.+):&Z+
+
75> X%-0+?02+
9/&)Z!/(-!&)*!5(OO!/(-!5/&5!@=C!&-(!V=-Z0)'!=)!*(4(O=10)'!&)!&*4(-50.0)'!8&%1&0')!A=-!5/(!:[!
&)*!&.Z!/(-!0A!./(!V=CO*!,(!V0OO0)'!5=!5&OZ!5=!@=C!&'&0)!O&5(-!0)!5/(!.(%(.5(-#!!
!
!
! NI!