,#$%.&#',63-
+! A-$66)s(*[(.!x2//(-82&[!
,; x2//(-82&[!
%; 3($&$%+&%//*>$( =(-
";;U266((/28T=(>y.8(-!
#;;wz>(&,(-/8(..=2-(-!U266((2+/.2//!+&0!A-$66!!!
*;;`2%&(8$/*>(!C(6(/8$%+&%/,#--$*>8+&%!6{-!!
`$.*>2+/.2//
-;;A$88(-!+&0!K=8-#<6/*>2.(;!2=&(>9=2-
.;;U266((=#>&(&=(>y.8(-
';; E$&/8(..-20!6{-!`2>./8y-[(
/; U266((9{>.(!9$8!`(82..B`2>.|(-[
0; E$&6{../*>2*>8!6{-!3($& $%+&%/82=
1; 42//(&2=.2%(
*UD¿NGLVSOD\
2
! A-26$[0$/<.2D!
3
! E$&)K+/B42/8 (
4
! "-#%-2 99B42/8(!
(
! s-(>[&#<6!+&0!iUB42/8(!
5
! 72<<+* *$&# ) s29<682/8(
&
! 42/8(!72<<+**$&#/D/8(9!-($&$%(&)w($}|2//(-=(T+%
`$.*>=(>y.8(-
$
! s(*[(.!
)
! V(--$(%(.+&%/>(=(.
6
! U&#<6!72<<+**$&#)72<<+**$&#/D/8(9!-($&$ %(&
7
!!C$(%/29(-!:*>.2+*>!9$8!92%&(8$/*>(-!
C(6(/8$%+&%/,#--$*>8+&%!6{-!`$.*>2+/.2//
8
! s29<60{/(
9
! U2//(8 8(
:
! A(6y}
=8%(+g56(3$5$7(5+b/7/,&+
*;?@@!L$.8(-($&/28T!6{-!7.2-$/!KF+2!L$.8(-!:D/8(9!MX(!&2*>!`#0(..NO
9$;A???;0&6($5HLQLJXQJVÀVVLJNHLWIUGDV6\VWHP&DSSXFFLQRQLFKWLP/LHIHUXPIDQJHQWKDOWHQ
*;?BA!E&8[2.[+&%/<+.,(-!MP!4{8*>(&!$9!J$(6(-+962&%!(&8>2.8(&NO
9$;C???!:8-($6(&!9$8!PQ!3($&$%+&%/82=/!MR!42=/!$9!J$(6(-+962&%!(&8>2.8(&NO
+OJDSFZI!o9!0(&!A2-2&8$(2&/<-+*>!T+!|2>-(&;!,(-|(&0(&!:$(!=$88(!9$8!0$(/(-!`2/*>$&(!2+//*>.$(}.$*>!~+=(>z-8($.(!,#&!U-+</O
J$(=(!U+&0$&;!.$(=(-!U+&0(•
x$-! =(%.{*[|{&/*>(&! :$(! T+9! U2+6! j>-(-! &(+(&! E/<-(//(-$2! K+8#928$*! ,#&! U-+</O! :$(! |(-0(&! 02=($! &$*> 8! &+-! ,#&! 0(-!
A(8-y&[(F+2.$8y8!=(%( $/8(-8!/($&;!/#&0(-&!2+*>!,#&!0(-!($& 62*>(&!C(0$(&+&%O
i=!E/<-(//#!#0(-!J+&%#;!3$/8-(88#!#0( -!72<<+**$&#;!9$8!j >-(9!U266((B)E/<-(//#,#. .2+8#928(&![z&&(&!:$(!/$*>!U266( (%(&+//!
|$(!$9!726'!#0(-!C$/8-#!&2*>!w2+/(!>#.(&;!|2&&!2+*>!$99(-!:$(!9z*>8(&O!s2/!4>(-9#=.#*[!:D/8(9;!0$(!P\!C2-B"+9<(!+&0!0$(!
V(-|(&0+&%!2+//*>.$(}.$*>!6-$/*>!%(92>.(&(-!U266(( =#>&(&!/*>(&[(&!j>&(&!=(/8(/!K-#92!+&0!($&(!>(--.$*>!0$*[(;!%#.062-=(&(!
7-(92;!0$(!0+-*>!02/!&28{-.$*>(!Ä.!0(-!U266((=#>&(&!(-T(+%8!|$-0 O
E$&!E/<-(//#!|$-0!8D<$/*>(-|($/(!&$*>8!($&(-!>(-[z99.$*>( &!U266((82//(;!/#&0(-&!$&![.($&(&!"#-T(.. 2&8y//*>(&!/(-,$( -8O
o9!($&(&!E/ <-(//#!9$8!#<8$92.(-!4(9<(-28+-!+&0! ($&( -! [#9<2 [8 (&!7-(92!T+!(->2.8(&;! (9<6(>.(&!|$-!j>&(&;!0$(!42//(&!%+8!
,#-T+| y-9(&O
`$ 8! (8|2/! K+/<-#=$(-(&! |(-0(&! :$(! =2.0! 0$(! `$/*>+&%! +&0! 3z/8+&%! %(6+&0(&! >2=(&;! 0$(! :$(! =(,#-T+%(&O! K=(-! 2+*>! 0$(!
x2//(-F+2.$8y8!$/8!(&8/*>($0(&0!6{-!0$(!n+2.$8y8!0(/!E&0(-%(=&$//(/O
K*>8(&!:$(!02-2+6;!02//!:$(!6-$/*>(/!x2//(-!0$-([8!,#9!x2//(->2>&!,(-|(&0(&!M02/!&#*>!&$*>8!.2&%(!9$8!0(-!J+68!$&!U#&82[8!|2-!
+&0!020+-*>!2=%(/82&0(&!/*>9(*[8N;!02 //!(/![($&(&!7>.#-%(-+*>!2+6|($/ 8!+&0!02//!(/![2.8!$/8O
E$&! E/<-(//#! $/8! 2-#928$/*>(-! 2./! [.2//$ /*>(-! L$.8(-[266((O! 4-#8T! /($ &(/! /8y-[(-(& ;! ,#..9+&0$%(-(&! +&0! .y&%(-! 2&>2.8(&0(&!
A(/*>92*[/!(&8>y.8!($&!E/<-(//#!|(&$%(-!U#66($&!2./!L$.8(-[266((!M*2O!hQ!=$/!gQ!9%!<-#!42//(!$9!V(- %.($*>!T+!L$.8(-[266((!9$8!gQ!
=$/!PQQ!9%!<-#!42//(NO!V(-2&8|#-8.$*>!026{-!$/8!0$(![{ -T(-(!U# &82[8T($8O!s2&[!0(/!0+-*>02*>8(&!s(/$%&/!$&[.+/$,(!`$.*>=(>y.8(-!
[z&&(&!: $(!9$8!j>-(9!J288mE/<-(//BU266((,#..2+8 #928(&!2+*>!($&(&!>(--.$*>(&!72<<+**$&#!T+=(-($ 8(&O
`$ 8! 0(-! [$&0(-.($*>8(&! w2&0>2=+&%;! 0(-! %+8(&! :$*>8=2-[($8! 0(-! ($&T(.&(&! C(>y.8(-! +&0! 0(&! 2+8#928$/*>(&! 3($&$%+ &%/B! +&0!
E&8[2.[+&%/<-#%-299(&!=$(8(8!j >-(!J288mE/<-(//!K+8#928$*!>z*>/8(&!C(0$(&[#9 6#-8O
925'(0(567(1(,16$7=
,EVD GWWSFZ;XEL;8PVV ELJwLD E
V#-!0(9!(-/8(&!E$ &/28T!0(-!`2/ *>$&(!#0(-!=($!($&(-!V(-y&0(-+&%!0(-!x2//(->y-8(!/#..8(&!:$(!0$(!`2/*>$& (!2+6!0$(!X(|($.$%(!
x2//(->y -8(!($&/8(..(&O!V(-|(&0(&!:$(!02/!9$8%(.$(6(-8(!:8y=*>(&!T+-!C(/ 8$99+&%!0(-!x2//(->y-8(!#0(-!(-6-2%(&!:$(!0$(!wy-8(!
=($!j>-(9!x2//(-,(-/#-%(-O!C($!0(-!(-/8(&!j&=(8-$(=&2>9(! 0(/!A(-y8(/!|(-0 (&!:$(!,#9!:D/8(9!2+6%(6#-0(-8;!0$(!x2//(->y-8(!
2&T+%(=(&O
.wLDEZLPX 0MPVVE;?
$EJL;xEGOJ
0MPVVE;!
8EGO J
0MPVVE;^
2GDDEMJPL D
0MPVVE;C
.PLD
0MPVVE;A
$EJL;JPLD
`;X.
a!bc d!ec d!fc d!Pec d!RPc
`;E
a!b;f\c d!\c d!g;f\c d!Pf;\c d!Rh;R\c
`;Q
a!\;ec d!f;Rc d!PR;hc d!R\;Rc d!bf;gc
-ELwDEEGFVDEMMSFZ
Q P R b e
!
2
1
3
DE
11
!?
(&4,1#2#;
":$*43%)'433#2#3)
+%)'43$;%4&&#%)'7#$
J(!.#%#
!!!
!!
/r266$*>(
s'=-2&*>(T!.12<<2-($.!<(&02&8!RQ!/(*#&0(/;!-(8$-(T!.2!*2-8#+*>(!7.2-$/!KF+2!L$.8(-!:D/8(9!.(!
*2/!'*>'2&8;!<+$/!-(9(88(TB.(!(&!/(-,$*(O
:$!.(!0'62+8!<(-/$/8(;!*#&82*8(T!.(!:(-,$*(!7#&/#9928(+-/!U3o":O
K<-?/!2,#$-!-(9<.$!.(!
-'/(-,#$-!0m(2+;!.(!9(//2%(!
0m2,(-8$//(9(&8!-(/8(!266$*>'!
5!.m'*-2&O!
V'-$6$(T!.(!=#&!<#/$8$#&&(9(&8!0+!-'/(-,#$-!02&/!.m2<<2-($.O!J(!6.#88(+-!
2+!6#&0!0+!-'/(-,#$-!0#$8!/(!0'<.2*(-!.$=-(9(&8O!V'-$6$(T!(8!0'=.#F+(T!/$!&'*(//2$-(!.(!6.#88(+- O
J2!92*>$&(!&(!0(92&0(!<2/
0(!0'82-8-2%(O
J(!*D*.(!0(!0'82-8-2%(!(/8!0(92&0'!5!<2-8$-!0m+&!	=-(!$9<#-82&8!0m+8$.$/28$#&/!0+!*$-*+$8!
,2<(+-O
7HGOG;RSEMRSEV;LEOEDDEV;\;L]PMGVEL;PYEO;YHDLE;#VULEVVELGP;+SDHWPDGO;I
%PUUSO OG FH!
"#+-! +&! *2<<+**$&#! 02&/! .(/! -?%.( /! 0(! .12-8;! .(/! <-#<#-8$#&/! $0'2.(/! /#&8! .(/! /+$, 2&8(/k! P)b! 0(! .2$8! *>2+0;! P)b! 0(! *26';!!
P)b!0(!9#+//(!0(!.2$8O!
%P Q];%LK WE;
"-'<2-(T!+&!(/<-(//#!*.2//$F+(!02&/!+&(!%-2&0(!82//(O
KX#+8(T!+&!&+2%(!0(!*-?9(!<#+-!#=8(&$-!+&!*26'!*-?9(O
%P Q];OHLLEDDHv;
"-'<2-(T!+&!82//(!01(/<-(//#!*#99(!01>2=$8+0(O
7#--$%(T!(&/+$8(!.'% ?-(9(&8!.(!% #_8!(&!2X#+82&8!P)e!#+!P)R!,(--(!5!.$F+(+-!0(!*#%&2*O
B!!J12&$/(88(;! .1(2+! 0(! ,$(! 0(! -2$/$&/;! .(! :29 =+*#;! .(! U$-/*>! (8! .(! 7#$&8-(2+! *#&,$(&&(&8! 2+//$! 5! *(8! (66(8O! j.! (@$/8(! (&*#-(! 0(!
	=-(+/(/!2+8-(/!<#//$=$.$8'/!<#+-!tPFH lMGLu!.1(/<-(//#O!J1$92%$& 28$#&!(/8!$..$9$8' (O
1GRSESL;PS;OPQ]v
!`'.2&%(T!02&/!P!=#+8($..(!,$0(!0(!Q;f\!.$8-(!b!82//(/!01(/<-(//#;!R\Q!%!0(!/+*-(!*2&0$!=-+&;!P)R!.$8-(!0(!7#%&2*!#+!0(!U$-/*>O
J2$//(T!92*'-(-!.(!9'.2&%(!<(&02&8!2+!9#$&/!R!/(9 2$& (/O
B!V#+/!2+-(T!2$&/$!+&(!.$F+(+-!0 '.$*$(+/(;!/+-8#+8!<#+-!.(/!2928(+-/!0(!*26'O
%P Q];ZMPO];\;MTGDPMGEFFE
e!=#+.(/!0(!%.2*(!5!.2!,2&$..(;!R!82//(/!01(/<-(//#!6-#$0!/+*-';!P)g!.!0(!.2$8;!*-?9(!6-2]*>(;!*>#*#.28!-Z<'O
B!`'.2&%( T!.1(/<-(//#!6-#$0!2,(*!0+!.2$8O
B!!3'<2-8$//(T!.(/!=#+.(/!0(!%.2*(!02&/!0 (/!,(--(/;!,(-/(T!.(!*26'!0( //+/!(8!0'*#-(T!2, (*!.2!*-?9(!6-2]*>(!(8!.(!*>#*#.28!-Z<'O
%P Q];\;MP;QLGVHFFEv
KX#+8(T!+&!<(8$8!,(--(!0(!->+9!5!+&(!82//(!01(/<-(/ /#!/+*- 'O
s'*#-(T!2,(*!+&(!=# &&(!*#+*>(!0(!*-?9(!6-2]*>(!(8!/(-,(TO
#VULEVVH;QMPWl]v
R!82//(/!01(/<-(//#;!R!<(8$8/!,(--(/!0(!7#%&2*;!R!*+$..(-' (/!5!*26'!0(!/+*-(!=-+&;!*-?9(!6-2]*>(O
B!V(-/(T!.(!7#%&2*!02&/!0(/!,( --(/!-'/$/82&8!5!.2!*>2.(+-;!*>2+66(T!(8!6.29=(TO
B!KX#+8(T!.(!/+*-(;!9 '.2&%(T;!,(-/(T!.(!*26'!(8!0'*#-(T!0(!*-?9(!6-2]*>(O
#VULEVVH;(PLQPGDv
R!82//(/!01(/<-(//#;!h!X2+&(/!01#(+6;!RQQ%!0(!/+*-(;!P)g!.$8-(!0(!*-?9(!6-2]*>(!/+*-'(;!P!<(8$8!!,(--(!0(!.$F+(+-!01#-2&%(O
B!C288(T!.( /!X2+&(/!01#(+6!2,(*!.(!/+*-(!X+/F+15!6#-928$#&!01+&(!92//(!'<2$//(!(8!9#+//(+/(O
B!KX#+8(T!.1(/<-(//#!6-#$0!(8!.2!.$F+(+-!01#-2&%(O
B!`'.2&%( T!(&/+$8(!.2!*-?9(!6-2]*>(!6#+(88'(O
B!V(-/(T!.(!8#+8!02&/!0(/!*#+<(/!#+!0(/!,(--(/O
B!`(88(T!.(/!*#+<(/!02&/!.(!*#&%'.28(+-O
/¶DEXVG¶DOFRROHVWGDQJHUHX[SRXUODVDQWp
!