%&(51'1.1)+(0(.+5+%0 #2,4(,:6+636.0 +:C:A>I>6C >C> 7:GIJ?J6C JCIJ@ B:C 76B6C6 E:C6CH:GI6B:CI6GI>6C 6@6C B:B76C9>C6C>C>96E6I9>A>=6IE696 "6B76G$$$96C"6B76G$$$ "6B76G$$$.@:B6(:ID9DAD+:C:A>I>6C "6B76G$$$'6C?JI6C.@:B6(:ID9DAD+:C:A>I>6C "(5*(5.(56+,3!,5,30:0(5 -6C86CI>6C9>76C6CI:G76B:C?69> 9J6 N6>IJ G6C86CI>6C JCIJ@ 76C@ H6BE6= N6C96@ B:C:G>B6 EGDC6C JCIJ@ 76C@H6BE6= N6CB6 EGDC6C>C> 9>A6@J@6C 7:7:G6E6 E:CN:HJ6>C K6G>67:A E696 BD9:A /+ >6CIG6CN6 I:G96E6I E:C6B76=6C K6G>67:A I>CI>6C H:7:AJBCN6 N6CCN6I6@6C?>@6I:DG>/+96E6I9>E:GAJ6HJCIJ@ B:B6HJ@@6C ;6@IDG ;6@IDG A6>C I:GB6HJ@ E:G>A6@J B6H6 A6AJ @:H696G6C 6@6C @DCH:@J:CH>96C@:E:G86N66CH:76EG:9>@IDGJCIJ@166CH:7:AJBCN696E6I9>A>=6IE696 "6B76G$$"6B76G$$96C"6B76G$$ 6+,3!,5,30:0(5(52#(47(/$(57(!86.8(4!,5+(4705.(5 "6B76G$$$ (D9:A+:C:A>I>6CJCIJ@6C@.6BE6=/6CE6+GDC; B:B>A>@>96BE6@N6C;>@6CI:G=696E#-+A+416/6E:CDA:=;6@IDGI>C 96C H>@6E .:B:CI6G616@6ECDGB6HJ7?:@I>;7:GJE6E:GH:EH>96C+>IJH:C9>G> +96A6BBD9:AE:C:A>I>6C>C>B:GJE6@6CK6G>67:A9:E:C9:C:IJ?J6CH:7:AJBCN6+?JA>@>96BE6@N6C;>@6CI:G=696E#-+A+416/6I>6CJCIJ@6C@.6BE6=9:C; B:B>A>@>96BE6@N6C;>@6CI:G=696E#-+A+416/6E:CDA:=;6@IDGI>C 96C H>@6E .:B:CI6G616@6ECDGB6HJ7?:@I>;7:GJE6E:GH:EH>96C+>IJH:C9>G> +96A6BBD9:AE:C:A>I>6C>C>B:GJE6@6CK6G>67:A9:E:C9:C:IJ?J6CH:7:AJBCN6+?JA>@>96BE6@N6C;>@6CI:G=696E#-+A+416/667>A>I6H696A6=H:G6C6CE:C@> @DCH>HI:CH> 7>A6 E:CA6@J@6C H:86G6 7:GJA6C67>A>I6H 96E6I 9>J@JG B:C67>A>I6H AE=69:C@JI)DID6IBD9?D $$$ &:I:G6C67>A>I6H$CHIGJB:C @6CN6@CN67JI>GE:GI6CN66C %JBA6=16G>6CJI>G 16G>6CIDI6A :76*)+0C; 480) 696A6= J@JG6C @:6C96A6C N6CA>@> C>A6> 7:G@>H6G 96G> CDA H6BE6>H6IJ#6>G/>C76B:C?69>N6>IJ H:767:G>@JI /67:A$$$/>C&J:H>DC:G96E6I9>CN6I6@6CK6A>9?>@6 7JI>G 7JI>GE:GI6CN66CB6BEJ9>;>@6CH>9>A6@J@6C9:CCA6> G=>IJCG=>IJC=7:H6G96G>C>A6>GI67:AH:GI6B:B>A>@>C>A6>EDH>I>;B6@6 7JI>GE:GI6CN66CI:GH:7JI96E6I9>CN6I6@6CK6A>9-DB6JA>9@@+696E:C:A>I>6C >C> 9>9>I6H :G96H6G@6C ?JBA6=H6BE:AH:76CN6@E696I>C;>@6CH>B6@6C>A6>GI67:AH:7:H6G +:G=>IJCA6@J@6C B:C@6CE696/67:A$$$ /67:A$$$#6H>AJ?>K6A>9>I6H>CHIGJB:CE:C:A>I>6C &(80(),3 6+, 8/0:;5. 8:(),3 ,:,8(5.(5 />CIJC9 /+ G=>IJC9 /+ G=>IJC9 +:GH:EH> + G=>IJC9 + G=>IJC9 + G=>IJC9 .>@6E . G=>IJC9 . G=>IJC9 . G=>IJC9 !-:+-1>-, -0)>17:)4 76IJC9 + G=>IJC9 + G=>IJC9 6IJC9 $ G=>IJC9 +:G>A6@J B:CIJC9 +( G=>IJC9 +( G=>IJC9 +( G=>IJC9 +( G=>IJC9 +( G=>IJC9 +( G=>IJC9 :G96H6G@6C/67:A$$$9>6I6HH:AJGJ=7JI>GE:GI6CN66C@J:H>DC:G9>CN6I6@6CK6A>9 @6G:C6 C>A6> G =>IJC= 7:H6G 96G> E696 C>A6> G I67:A (6@6 @:H>BEJA6C 96G> J?> K6A>9>I6H I:GH:7JI 696A6= E:GI6CN66C E696 @J:H>DC:G B6BEJ JCIJ@ B:C@J:H>DC:GN6CG:A>67>A>I6H0?>G:A>67>A>I6HB:GJE6@6CJ?>JCIJ@ B:C H:?6J= B6C6 E:C HJ6IJ @J:H>DC:G I:I6E @DCH>HI:C H:I:A6= 9>A6@J@6C 7:GJA6C I:G=696E D7?:@ 96C @DC9>H> N6C67>A>I6H E696 E:C:A>I>6C >C> B:CA6>GDC768=6AE=6B6@6>CHIGJB:CII:GH:7JI 9>@6I6@6C G:A>67:A "=DO6A> 0?> G:6A>7>A>I6H 96E6I 9>A6@J@6C @:I>@6 >I:B E:GCN6I66CI:A6=9>CN6I6@6CK6A>9B:A6AJ>J?>K6A>9>I6H/67:A$$$B:GJE6@6C=6H>A96G> E:C6CG:A>67>A>I6H>CHIGJB:C /67:A$$$#6H>AJ?>G:A>67>A>I6H>CHIGJB:CE:C:A>I>6C 6 &(80(),3 ":(),3",30()030:(9 $05.2(: ,/(5+(3(5 />C -:A>67:A #6C96A .>@6E -:A>67:A #6C96A !-:+-1>-, -0)>17:)47667:A .6C @J:H>DC:G 6@6C 9>DA6= 96C 9>6C6A>H>H B:CIJC?J@6CE696 "6B76G$$$ "6B76G$$$>6GE:CH>H96I6 !8(5(30909(:( +G66C6A>H>H96I69>A6@J@6CH:7:AJB6C6A>H>HJC>K6G>6I96CBJAI>K6G>6I+G66C6A>H>H96I6 7:GIJ?J6CJCIJ@B:C@:GIH:I>6EK6G>67:A B:C?69>H@DG>C@JI B:GJE6@6C@:I:CIJ6C96G>H:I>6EK6G>67:A />CC6I6H:BE6I7JI>GE:GI6CN66C.:I>6EH6IJ7JI>G E:GI6CN66C9:C@>H@DGH:7:H6GED>C.:=>C B6@H>BJB K6G>67:A I>C B>C>BJBI>C96@696E:GI6CN66C9:CH@DG>CH>H96I6H:A6C?JICN6N6>IJ6C6A>H>HJC>K6G>6I 96C 7>K6G>6I 0CIJ@ 6C6A>H>H JC>K6G>6I 6@6C 9>I6B76=@6C 6C6A>H>H 7:G96H6G@6C @6I:I>C@6A> 9:CI6H I>CI>IJ &6I:76>@C>A6>H@DG &6I:8J@JEC>A6>H@DG &6I:@JG6CA6>H@DG +:GH:EH>.>@6E+96C6H>@6E+96C166I6HI>G E:GI6CN66C +>A>=6C ?6L676C E696 @::BE6I K6G>67:A I:GH:7JI B:CC -696@H:IJ?JED>C .6C96@H:IJ?JED>C )>A6>B6@H>BJBJCIJ@K6G>67:AE:GH:EH>H>@6E+96C16A6> B>C>BJB H:7:H6G ED>C 0CIJ@ 6C6A>H>H JC>K6G>6I 6@6C 9>I6B76=@6C 6C6A>H>H 7:G96H6G@6C @6I: .:A6C?JICN6 ?JBA6= ED>C @:H:AJGJ=6C 6@6C 9>76 9:CC B6@H>BJB 96C 9>@6A> G>;>C &::BE6I K6G>67:A I:GH:7JI6@6C9>76B:C?69>I>IJ &6I:76>@C>A6>H@DG &6I:8J@JEC>A6>H@DG &6I:@JG6CA6>H@DG +:G>A6@J(:CA6@J I:G9>G> 6I6H 9:A6E6C 7JI>G E:GI6CN66C :BE6I7JI>G E:GI6CN66C B:C=6CH:A6AJH:G>CCCA>=6C?6L676C696A6=H:76 7:G>@JI .:A6AJED>C .:G>CC &696CC %6G6CC />96@E:GC6=ED>C )>A6>B6@H>BJBJCIJ@K6G>67:AE:G>A6@J696A6=ED>C96CC>A6>B>C>BJBH:7:H6G ED>C 0CIJ@ 6C6A>H>H JC>K6G>6I 6@6C 9>I6B76=@6C 6C6A>H>H 7:G96H6G@6C @6I: .:A6C?JICN6?JBA6=ED>C@:H:AJGJ=6C6@6C9>769:CCB6@H>BJB96C 9>@6A> G>;>C 16G>67:A E:G>A6@J 6@6C 9>76 B:C?69> I>IJ &6I:76>@C>A6>H@DG &6I:8J@JEC>A6>H@DG &6I:@JG6CA6>H@DG 5(30909%50H>H JC>K6G>6I B:GJE6@6C 6C6A>H>H N6CEH>@6C @6G6@I:G>HI>@ H:I>6E K6G>67:A E:C:A>I>6C C6A>H>H JC>K6G>6I E696 K6G>67:A @6I:@ E696 JBJBCN6 =6CN6 B:CA@6C 9>HIG>7JH> ;G:@J:CH> 96C E:GH:CI6H:96G>H:I>6EK6G>67:A.:B:CI6G6E696K6G>67:ACJB:G>@6C6A>H>HJC>K6G>6I 7:GJE6 J@JG6C E:BJH6I6C 96C E:CN:76G6C 96I6 /J?J6C A6>C 96G> 6C6A>H>H JC>K6G>6I 696A6=JCIJ@B:A>=6I6E6@6=96I6I:A6=A6N6@JCIJ@9>6C6A>H>HB:A>=6I=6I6E6@6=96I6I:A6=DEI>B6AJCIJ@9>6C6A>H>HA:7>=A6C?JI 6A6B E:C:A>I>6C >C> 6C6A>H>H JC>K6G>6I 9>A6@J@6C I:G=696E H:BJ6 K6G>67:A 76>@ K6G>67:A @6I:@ B6JEJC K6G>67:A CJB:G>@ C6A>H>H JC>K6G>6I9>A6@J@6C JCIJ@ B:C9>HIG>7JH>;G:@J:CH>96CE:GH:CI6H:G:HEDC9:C7:G96H6G@6CK6G>67:AI>C +16H JC>K6G>6I CJB:G>@ 9>A6@J@6C JCIJ@ K6G>67:A E:G>A6@J B:C@>?6L676CCJB:G>@G6H>D 5(30909%10684(30:(9"" 0?> )DGB6A>I6H7457/7:7>$51:67>696A6= J?> N6CA6@J@6C JCIJ@ B:C H:76G6C96I6686@96CHE:H>;>@E696HJ6IJEDEJA6H>&6GHDC0?>7457/7:7> $51:67>E696JBJBCN68D8D@9>@6?JBA6=96I669696A6BG:CI6C7457/7:7>$51:67>HJ6IJ96I69>@6I6@6C7:G9>HIG>7JH>CDGB6A6E67>A6 C>A6> H>;>@6CH> A:7>= 96G> H> CDGB6A>I6H 6@6C 9>A6@J@6C B:C6IB:GJE6@6C6C6A>H>HN6CA6@J@6CI:G=696E9J6K6G>67:AN6C9JA>@> =J7JC )DID6IBD9?D C6A>H>H 7>K6G>6I 9>A6@J@6C JCIJ@ B:C86G> =J7JC67:A >C9:E:C9:C 96C K6G>67:A9:E:C9:C B:CHI>@6 N6C 9:C6C>C>6C6A>H>H7>K6G>6I9>6E6@6=I:G96E6IE:G7:966C N6C;>@6CE696K6G>67:AI>C@6E6CI6G6@:9J6 76C@H6BE6=N6C76C9>CHI6I>H>I@N6CH>H7>K6G>6I>C> 696A6=J?>)66'01)66 '01 HI6I>HI>@ CDC E6G6B:IG>@ N6CCJ?>)66'0167:A >C9:E:C9:C96G>@:ADBED@7:76HB:BEJCN6>B:9>6CN6C >C>7>6H6CN69>@6J?>II>96@7:GE6H6C96@96E6I9>CDGB6A>I6HI>96@I:GE:CJ=>0?>)66'01A>@>6HJBH>H:767:G>@JI .@6A696I6K6G>67:A9:E:C9:C696A6=DG9>C6A>CI:GK6A6I6JG6H>D 6I67:G6H6A96G>9J6@:ADBED@N6C67:AH6A>CC9:E:C9:CH6IJ9:C@JIB:GJE6@6CEGDH:9JGB:A6@J@6CJ?>)66'01H6L6A/:G96E6I9J66HJBH>J?>N6CIJJ?>H6IJH>H> 96CJ?>9J6H>H>.:86G6JBJBGJBJH6C=>EDI:H>HJ?>)66'01?:A6H@6C H:767:G>@JI # # 6I6J J?>H6IJH>H> # # J?>9J6H>H> &:I:G6C6C96G>@:ADBED@E:GI6B6 B:9>6C96G>@:ADBED@@:9J6 60?>H6IJH>H> #D I>96@ I:G96E6I E:G7:966C N6C;>@6C 6CI6G6 B:9>6C 6C@ .6BE6=96C6C@.6BE6= #6I:G96E6IE:G7:966CN6C;>@6C6CI6G6B:9>6C6C@.6BE6= 96C6C@.6BE6= 70?>9J6H>H> #D />96@ 696 E:G7:966C N6C;>@6C 6CI6G6 B:9>6C @:9J6 76C@ H6BE6= #6696E:G7:966CN6C;>@6C6CI6G6B:9>6C@:9J676C@H6BE6= (:C=>EDI:H>HCDAB:CBEJA6C7:G96H6G@6C96H6GE:CA6C@:EJIJH6C96A6BJ?>)66 '01@JIB:GJE6@6C96H6GE:CA6C@:EJIJH6CJCIJ@J?>H6IJH>H> 96CJ?>9J6H>H> 60?>H6IJH>H> %>@68>4)=-B6@6I>96@6968J@JE7J@I>JCIJ@B:CDA6@#D />96@696E:G7:966CN6C;>@6C6CI6G6B:9>6C6C@.6BE6=96C 6C@.6BE6= %>@68>)4=-B6@66968J@JE7J@I>JCIJ@B:CDA6=#D96 8J@JE7J@I>JCIJ@B:CDA6@#D 70?>9J6H>H> %>@68>)4=-B6@6I>96@8J@JE7J@I>JCIJ@B:CDA6@#D/>96@ 696E:G7:966CN6C;>@6C6CI6G6B:9>6C@:9J676C@H6BE6= %>@68>)4=- B6@6 696 8J@JE 7J@I> JCIJ@ B:CDA6@ #D 96 E:G7:966CN6C;>@6C6C6I6G6B:9>6C@:9J676C@H6BE6= 0?>)66 '01I>6C >C> 9>C;>@6CE696K6G>67:AI>C@6E+ 1676C9>C9:C;>@6CH> #>EDI:H>HE:G76C9>C67:A6CI6G69J676C@H6BE6=696A6=H:767:G>@JI #I>96@I:G96E6IE:G7:966CN6C;>@6C6CI6G66C@.6BE6=96C6C@ .6BE6= #I:G96E6IE:G7:966CN6C;>@6C6CI6G66C@.6BE6=96C6C@.6BE6= 6H6GE:CA6C@:EJIJH6C96A6BJ?>5)66?01@JI %>@68>)4=-B6@6I>96@8J@JE7J@I>JCIJ@B:CDA6@# %>@68>)4=-B6@68J@JE7J@I>JCIJ@B:CDA6@# 5(30909;3:0H>HBJAI>K6G>6IB:GJE6@6C6C6A>H>HN6CA6@J@6CJCIJ@B:CH>H=J7JC67:A>C9:E:C9:CI:G=696EH6IJK6G>67:A9:E:C9:C)DID6IBD9?D +6966C6AH>H7>K6G>6IH:7:AJBCN66C6A>H>H=6CN6B:C@6C=J7JC67:A>C9:E:C9:C96CH6IJK6G>67:A9:E:C9:C*A:=@6G:C6>IJE:GAJ9>A6@J@6C 6C6A>H>HA6C?JI6CB:CHBJAI>K6G>6IJCIJ@B:C=J7JC= 96G>H6IJK6G>67:A>C9:E:C9:CI:G=696EH6IJK6G>67:A9:E:C9:CC6A>H>HBJAI>K6G>6I ?J@ N6CB>A>@>CN66A6BE:C:A>I>6C>C>6C6A>H>HBJAI>K6G>6I9>A6@J@6CJCIJ@B:CH>H =J7JC67:A K6G>67:A>C9:E:C9:CI:G=696EK6G>67:A9:E:C9:CH:GI6JCIJ@ B:CHI>@ N6C 6C6A>H>H BJAI>K6G>6IN6CI>6C>C>696A6=J?>G:A>C:6G7:G8AJHI:G>CEDI:H>HE:C:A>I>6CN6C7J@I>@6CB:CC:6G7:G67:A +:GH:EH> 7:GE:C;>@6C I:G=696E K6G>67:A +->O@N 96C "JC6L6C #16G>67:A.>@6E7:GE:C;>@6CI:G=696EK6G>67:A6C>C= # 16G>67:A .>@6E 7:GE:C;>@6C I:G=696E K6G>67:A + +6B7J9> 96C .J96GN6CI>C>C= #16G>67:A+7:GE:C;>@6CI:G=696EK6G>67:A6->O@N96C"JC6L6C #16G>67:A667:A+:G>A6@J+6B7J9> 96C.J96GN6CI>C>C=->O@N96C"JC6L6C # 16G>67:A + 7:GE:C;>@6C I:G=696E +:G>A6@J +6B7J9> 96C .J96GN6CI>C>C= 0?>G:7:GI>6C>C>9>6E K6G>67:A E696 G6C86CI>6C #>EDI:H>H =J7JC67:A E696 H:86G6JBJB696A6=H:767:G>@JI #/>96@I:G96E6I=J7JC@6CH:86G6E6GH>6AH>BJAI6C6CI6G6K6G>67:A >C9:E:C9:C96CK6G>67:A9:E:C9:C #>/:G96E6I=J7JC@6C6CI6G6H:86G6E6GH>6AH>BJAI6C6CI6G6K6G>67:A >C9:E:C9:C96CK6G>67:A9:E:C9:C 6H6GE:CA6C@:EJIJH6C96A6BJ?>G:A>C:6G7:G@JI %>@68>)4=-B6@6I>96@8J@JE7J@I>JCIJ@B:CDA6@# %>@68>)4=-B6@68J@JE7J@I>JCIJ@B:CDA6@# %10! C6A>H>H@AJHI:GB:GJE6@6CH6A6=H6IJ8DCID=96G>B:ID9:6C6A>H>HBJAI>K6G>6IN6CA>@>IJ?J6CJI6B6JCIJ@B:CHI>@ N6CB>A>@>CN6.D76G>96C0HB6CC6A>H>H@AJHI:GB:CI>6C66ED7?:@E:C:A>I>6CN6CA>@>@:H6B66CE6A>CHI>@ N6CH9>9J6?:C>HN6>IJI:@C>@=>G6G@>96CI:@C>@CDC=>G6G@>(:ID9: =>G6G@> B:GJE6@6C I:@C>@ E:C =>G6G@> 6I6J 7:G96H6G@6CI>CHIGJ@IJGED=DC.:=>CG6G@> B:GJE6@6C B:ID9: E:C7:CIJ@ +696 E:C:A>I>6C >C> 6@6C B:CG6G@> 9:C96H6G@6C E696 7:7:G6E6 E:C:A>I>6C H:7:AJBCN6 B:C E:CH B6HN6G6@6I +696 E:C:A>I>6C H:7:AJBCN6 B:C E:C:CIJ6C76C@H6BE6=N6C@G>I:G>6JCIJ@B:C96E6I@6CEGD>C6H'>C6L6C9@@9>I:CIJ@6C ?>@676C@H6BE6=9>76B:C?69>@AJHI:GN6>IJ@AJHI:G76>@H:96CCCN6 B:C E:C:CIJ6C E:C@AJHI:GN6>IJ@AJHI:G9:CCB7JA6CH6BE6= I>C