7FUSOSU7(N@-	I(V7
 N@U[1_],?Bn<XA\NK_@6l_/3TVO<3GJA@4]XWN]UCRVO[^QV@WBTJW]NXGQQ AXJQXWA@NA[YSO[UFNK[[W_AN[LQIRCD_HX\@\NMHRVO[^C\SX\RANIJU%ZRVU	]CNKRB OQIZFXJXUCRSWUNER]@@AEVRTVO	RAYH\B@SZ^NXKC@G
_RV]GKOAH@TKJ
KICXJ]\UCASAUNLVDOBIQG]FVO	AYTUNY]J]NNXTEVRFJO\NVACNBBD@B		VXIQ^_VCNVUK[MV[@QERO_RX_QIVRUB]@@NZ[VQ\SNLGT@@QCIL_VY;LOJNH\QVANLRWXIB[_V XNMHSWO[Y]XANQNXHX
HAYRI]_N@[OVSJ@_IVHOJ]\EUAUSX^E
KQQ_VA\NM[SAO[
@TKJBQQGDJHX	[YUO[ULEXO@@QNJTXARVAY[]Q@SA\OV@NQ_IC WXWR^^UUA	ANK@]EDO	
QIZCDDF	UUCASAUNV]J]NVQB4QNFFIAYSUN ER]@@AGVRUJY\NT[VC@SZ[NXJ_QCUXWA\][[@NKS^KJ
AIBDZHX
@AYSUNER]@@ CVRFJO\N	AYH@QEROXWX_QTF@X\NTACNCN]@T[NXXCQGOOJN\UUA	GNK@]KJ@QQBCJHX	E[YAPLN_N]P]\NXTJVRFJO\N[ACNCNNL8\OVXDEXF@]\NV[VC@SZYNXKCGG
ZRV\[[ENKRB KQIZBXJ_UCRSPUNER\\PVQ^QF@]\N[[VC@SAY]NXXCQGXWA@NR[VQYA@B	XIGGMOJN\UUA	ENK@^KJFQQCVDF	XUCAQAUN]]J\Y@VQ
EFJ^X^CN@UACXK\]@TTNXXCQGBOJN\UOAR&_QV
@	G]RXICG
XRV\[[GNKRB MQI[QFNVGUA]SX_VDOXIEXWVO	QAYH\A@SZTNXJ_QC\XW@@NRININA@B	@@B_IC UXWRZ\UUA	NKQB		UXIQ[_VFNVUIAOA	D@TWJAN_IVXFVOJAYAH\Q@SAZOV@ICQGF@_B\@U@NINA@B		ZXIQ[XJU%_RVU	]CNKRB OQI[QDNVGUA[SX^E
EQQ_V ]NMHSRO[]]XANQNYTHARZAC\_N@POVRVQ
EEXF@O@N@U[VB@SAYOV@BCQGOJ^@UNNINA@B		TXIQ[_VENVUIAOA	E@TWJANXIVXFVOKAYAK\Q@SEERX\NXTJVRFJO\N[ACNCNNL8YOVXDEXF@]\NV[VC@SZYNXJ_QCSXW@@NONI\]@	G]@@BCZQCNVGUA^SX^E
JQQ_V TNMIOA]A@TWJANIBXJ]NM[RSS[@Q YER\@@QNJTXARUAY[\Q@SA]OV@JQ_IC PXWR\N[[_QVSRLEHQIIQXJRV\[[UQVSRLEBQIIQ	DFK2INV[B\SX^E
FQQ CADFC[YRSM@QEPJW\NXDBJ^K]F@NHNI]ASB IQIZ@XJ^UCRSQUNER]@@AKVRTVOHSAY[\Q@SEJW]NXTBVRFHXR@N[VJ@SA_OV@JQ_IC RXWR\BD[OAYSXLI]O@@QNJSXARPAY[XCBC@B		PXIQYQXJRV_DISOA	H@TWJANSIVXFAR]3O[YAS^]XANQNYTOARWAC]CX]@	G[@@C_IVLOJ]\AUA]SX_VDOXIEXWVO	QAYH\A@SZTNXJ_QC\XW@@NRININA@B	@@B_IC UXWR_\UUA	NKZB		UXIQ[_VFNVUIMQAUN[]J_NNXTGVRFLO\NPACN@Z_ZLEHQIIFVDF NVEMSSO[[LEXO@@	QNJTX\NUB&ZVSIYQV
@	G]RXICG
XRV\[[GNKRB MQI[QFNVGUA]SX\_DOXIDDFE[YSO[W]XAN	QNXHX	FIAYAIN_NPERTYNXTBVRFK]@N@UNIUDR^ KJDQQCVDF	ZUCASAUN[]J]NNXTGVRFJO\NPACNCN]@T_NXXCQGF@]\NZACNCN]@TUNXXCQQM];CX@\XUCA@RLWDO^IDDFC[YSO[Y]XANQNXHX
HAYQI[_N@[OVRVQ^ZF@]\NZ[VC@SZUNXJ_QPYTXWR\N[[NIUDNLG]@@QB[QXJ NM@VSSM@QERO\@VQ
EBJ^X]R@NV[VQ\SNLGX@@QCIQ	^RVNG[OA^SXLEDO	
QI[Q	TRVNG[OATSXLEANV%KQQJQA\NMIOAD@TKJ
GICXJ[UCSOATLWDOZI@XVVO	PAYI@QEUJW\NXDMJ^JAR[AC\_NPVXOV@X_QHJ^NARRAY[]C\SNLY @@K_IC SXWRN@UONINSNLGY@@QQGNOJNN[[_QVS@B		PXIQIQXW@@NZ[VQN]@TUNXXQGG+QF@RRS[VC@SZXNXJ_QCPXW@@NNNI\]@	GZ@@C_IVKOJX\EUA_SX^E
AQQ_V UNMIOAI@TKJBCIQVDF 	NMMOA]SXLWXO@@]QNQHX	@[YAAUNX]JO@@QNJFVOMAYA[@QERONNXTAVRFXAR	[YSO[[LEJANSIVJVOA\\(HRRACQEVXOVRVQ^]F@\@Y@U	XQV@RZE
DQQJMDFA[YRSO@QEVJW]RK_QCWXWA\_[[ANKS^KJ
JICXJTUCSOA	@RLEXO@@
IEXTVOHAYAAB@XSNLY @@BBZQ	ZRVNAOMUU[@QERO\LKKQGOOJN]YHTAO[VLE[C_VX_QP[F@OA]BNNAOA	C@T_F^X@VQAQNXHX	N[YAS[@QERO\@_QZC+YUJOJNH\QVANLRWXIB[_V XNMHSWO[Y]QTUNXDBJ^K]F@NHNI]ASB IQIZ@XJ^UCRSQUNER]@@AKVRTVOHSAY[\Q@SEJW]RJ_QPYF@OHB_C[OA SX_WDODIQB^JL[R@NU[VQ\_S]KJFQQBVDF	XUCAQMOTQ@SA[OV@KA]SQXJ^NM[[MPMN_N]XANRIVXFVOAAYAIN@SS^8Y\_@@QCUJOJ\@U	YQV@R[E
GQQ C@DF@[YRSN@QEQJW]RL_QCUXWA\][[@NKS^KJ
AIBDZHX
@AYSUNERTU[VQ
EEXF@O@N@U[VB\ANLG]@@QKEGVDF	 UCRRPUNY]J]BRKQ_IC RXWR\BEMAOA	D@TVFXNNXTGVRFNCF[N[[_QVSS^UJANYIVPJIYR@NAYI@QERO\@VQ
ELJ^X[FB[UOARI\,]@PLJ
B[IDDFB[YRSL@QESJW]RN_QCSXWIUU[[ENKS^KJ
BIBDYHX
JAYRI__N@ZOVSJA_IVCOJ\@U	TQVANLG]RXIQ[_V
RV]GIOA]SXLI[YNNXTVRUK_\NTACNEZ_TXKJEQQCZZFVOLAYAHB@XSNLGX@@QGIQ	^RVNFHMRQ[@QEROTLIGQGF@]\NZACNCN]@TUNXXCQQ@7VXWNRINI\]@	GY@@C_IVNOJ\@U	[QVANLRTXICG
\RVXGHOAB@TKJ
AICXJUUCSOAZLWDOB[IVJHX		UCWOA	@@TVX]NNXTVRVVONAYA[@QERONNXTFVRFXARWAY[N_NPTJWN@VQ
EFJ^XO\N		AYSUNW]JO@@	QNJFARX3D[YAS^]XANQNXHX
MAYSUNER]@@AEVRTVO	RAYM\B@SZ^NXJ_QCVXW@@N@NI\]@	GT@@C_IC UJOJNN[[NIX]@T\NXXBC[_VNVDUA	DNK@LELQII_VENVU[OAXSXLKJ@QQQXJ^NM[AOANKRB		[XIQIQ	URVNUOAQI\,^@QLJ
B[IDDFB[YQSL@QESJW^RN_QCSXWB\[[[ENKP^KJ
BIADYHX
JAYQI__N@ZOVPJA_IVCOJ\@U	TQVH[WEKCQQCVDF 	NMKSSO[SLEPCY@VQGJ^H\C@NT[VQ\_R_KJEQQCZZSXARVAY[]]YC@B		VXIQ_BAJHX	D[YAZW]Q@SAZOV@B]FIQXW@@NZ[VQ\SNLGT@@QE\JAJVOB\\(KRQACQEVXOVRVQ^]F@_@Y@U	XQVCRZE
DQQJMDFA[YQSO@QEVJW^RK_QCWXWB\_[[ANKP^KJ
JICXJTUCSOA	@RLEXO@@
IFXTVOHAYAABFN]@PNXHBAGMOJNZ@WZTAUNX]J]BPIQ_IC QXWR]BDLAOA	E@TTFXZ@VQ
EGJ^XT^TUUUA	ANK@VRJANQQ_VINVUIAOA	I@TWJ@@N,EIV ]\UCSOAWLWDO_IDDF@[YSO[X]XAN QN\TKARPAC\_N@ZOVRVQ^QF@]\N[[VC@SAY]NXXQ_IE
F@Y\NRACNB\A@B	XIEGMOJNN[[ZQVS@B		WXIQIQ	YRVNUUA	@NK@LEHQII_V
OJ\@U@NINSNLGT@@QQQFXT%_AXNMA]A@TKJ
FIAD]HX
MAYQIX_N@_OVPJD_IVLOJ^\AUA]SX\VDOXIFXWVO	QAYK\A@SZTNXJ_QC\XWIUU[[]CNK@^KJQIYCXJ]NM[[MV[@Q YER_]VVQ
ECJ^X]^\_UUA	ENK@^TJAN^IVYJLUR@NW[VQX_UZKJ@QQKZ[FVOKAYAABFN]@MJW\NXTJVRFJO\N[ACNE[_[[DOX=NQI
\@NVGUAYSX^E
GQQ_V [NMIOAG@TKJ
BIGDYHX
JAYSUNER]@@AJVRTVO	[AYI@QWJWN@VQAVRPVOHAYAH\CN]@PNXN_QP_F@OR@NU[VQN]@TXNXXQ_IC PXWRN@UJNINSNLG^@@QQGF@]\NZACNQ@SAPOV@X_I,AJ^O	RSAC\_N@]OVRVQ^\F@]\NT[VC@SZ[NXJ_QCUXWD\][[@NKRB HQI[QINVGUATSX^EKCQQQXJNVCUA	BNK@_WJANIADF	[UCAAO[TLEJAN^IVJHX	C[YAAUN]]JO@@QNJFVOUCSOA	H@TEDOKIQVHX_@\3EIUAYNWJW\NXDAJ^H]E@NMNI^AVB MQI[QFNVN@ZOASLUX\@@A@VRVJ^\NQ[VA\CNLR[XICG
URV\[[]CNK@^KJQIYCXJ]NM[RPMMUQ@SCOVPJE_IC SXWR\N[[ZQVSTYTQO@@QNJTT^CN@UMNIN@L_EDO@IQBFPCO\NQACNB]_S\KJXICGCOJN\UUA	KNK@^DO^RJ,A[QNFFIAYSUN ER_\WVQ^\F@_@X@U	[QVANLRTXIJR_V ]NMKSRO[]]Z]_NXDFJ^H]B@N@NI\]@	GT@@C_IC UJOJN\UUA		QVCR^EKQII BZPWXAR 	AYK\D@SA_OV@JQ_IC RXWRZ[YLZAO[WLEXCY@VQ
E@J^X\^XUUUA	@NK@VS]O@@QNJUJCAXN[[[VC@SAQOV@JQ_IC \XWR\N
UAQSI3A\E@TNE
BCICXJYUCZZZUNER_\VVQ^_F@]\NU[VC@SZ\NXHCBG
^RV^GJOAC@TWZANQNXHX
AAYSUN_ERO\@VQAVRVJ]\NRACNBZ_UWKJ	QQC@DF	[UCASAUNX]J]NNXTFVRFLZ^]_UUA	GNK@^RPO@@QNJPTYBN@UKNIN@S@_JANQQ_VINVUIAOA	I@TWJ@@HCC4CAJ^O	RSAC\_N@]OV[CJ_IVNOJ^\CUA[SX^E
EQQ_V ]NMKSRO[]]Z]_NXDFJ^H]B@N@NI\]@	GT@@C_IC UJOJN\UUA		QVCR^EKQII FZYVXAR 	AYK\F@SA_OV@JQ_IC RXWR\N[[YQVSTYUZO@@QNJTTUIN@UJNINDL^EDOAIQEYJM[R@NAYI@QERO\@VQ
ELJ^X]R@UKSS<K\ANKLRSJQI[QENVGUAXSX^E
DQQ_V ZNMIOA@@TWYANQNQ]CARQAC^C^]@	GU@@C_IVBOJ\@UH\QVSRLEXIA[_VANVUKUMUNN_NPJW^RH_QP_F@O@N@UONINA@B		WXIQ[_VDNVUIAOA	B@TQ^CZTX_QPZF@OFBZ@[OAQVANLGU@@QCIQ	URVNG[OAK\C3CR]]OZQNXHX
LAYSUNERTU[VQ^_F@]\NU[VC@SZ\NXHCBG
^RV^GJOAC@TWZANQNXHX
AAYSUN_ERO\@VQAVRVJ]\NRACNA\_RVKJ	QQCGDF	[UCASAUNX]J]NNXTFVRFJO\NWACNEZ_[[KJ@QQAZQWXARQAY[]CBAVLE@@C_IC ]XWR\N[[TQVSRLHKJ_\R%ACZIJ]G[YSO[[]XANQNXHX
NAYSUNER]@@ABVRVJ\\NP[VC@SZ_NXCJJG
TRV\[[KNKRB		SJQIIQXJNVEISOA	@@TT[C_VX_QTF@_@]@UNNINA@B		TXIQ[_VENVUIAOA	E@TWJANXIVXFVOKAYAOZ]ZG@BNXJ_QPQF@O@N@UANINA@EZ]\=HCKIV ]\UCSOAWLUXX@@AGVRVJY\NT[VJUHNLRTXIA[_V ]NMKSRO[]]Z]_NXDFJ^H]B@N@NI\]@	GT@@C_IC UJOJN\UUA		QVCR^EKQII CZY\XAR 	AYK\K@SA_OV@LD]SQXJZNM[SMR[@Q ERO\LLKQGNOJN]YN[AO[QLEY]B[HQ_IC VXWRTBC@AOANKRB		[XIQ[_VHNVUIAO[^C\.P^ERN CVRTVO	VAYK\F@SZYNXHCGG
ZRVUN@OAG@TW^AN QNZTKARPAC^C_]@	G^@@ACYQINVGUATSX^EKCQQCVDF 	NMKSSO[SLEPCY@VQGJ^H]I@NT[VQZFLWEDOEIQDFUNO\NVACNCBIWLENQII]DQFVOJAYAH]]UG@B		PXIQSFVDF NVGUA	JNK@^KJKQQCVHX\@\3FIQAYNWJW\NXDAJ^JARWAC\_N@_OVRVQ^^F@]\NR[VB\@NLRQXIJR_V ^NMHSQO[W]XAN	QNXHX	FIAYAIN_NPER\\RVQ
EEJ^X_FBZ@[OA SX_UDODIQDJHX	A[YAS[@Q ERO\@VQ
E@J^X]R@NP[VQZGLXEDOAIQBFRMO\N		AYSUNW]J]NNXTKVRFJO@NFIS<RI_QV
@	G]RXICG
XRV\[[GNK[WKJ
DICXJZUCSOASLVX\@@A@VRUJ^\NQ[VB\CNLR[XICG
URV\[[]CNK@^KJQIZCXJ]NM[QSAUN	]Y]_NXTDVRFJO\NUACNCN]@TXNXXCQGNOJNZAWUUAUN]]J^BQNQ_IC VXWR]\UUA	NI\]@TTNXXCQGBOJN\UOARI\,]ASLJ
B[IDDFB[YSO[Z]XANQNXHX
OAYSUNER\\SVQ^[F@]\NQ[VJUHNLR[XICG
URV\[[]CNK@^KJQIZCXJ]NM[PPMJXQ@SCOVSJB_IC SXWR\N[[ZQVSRLEOQIIQXJXNM[SAO[QLEXO@@QNJRLCFZN[[[VC@SAQOV@JQ_IC \XWR\N
UARSI3B\G@TNE
BCICXJYUCRSVUNER\\VVQ^_F@]\NU[VJUHNLRSXIB[ _V _NMHSPO[\]Y]^NXDMJ^JAR[AC\_NPVXOV@JQ_IE
F@\@\@UHNIN@Q@SJANIEXRVONAYAIN_NPQJWNTL]E]_VENVUIMPP[@QERO]LI@QGIOJN[YJWAO[PLEY\NNXIDDF	UUCASAUNV]J]NVQB[,EXSXWNRINI\]@	GY@@BC^QDNVFIWOAULWDO]IMQ]VO	RAYH\B@SZ^NXKC@G
_RV]GKOAH@TKJ
KICXJ]\UCASAUNLVX]@@ QNJUKCF[N[[ QV@RYEMQIIQXJZNM[UUMOZQ@SA]OV@J]FIQ	YRVNFWUTAUN]]JTBWX_QPZF@OA\N[[[VC@SAQOV@JQ_IC \XWR\N
UARSI3B\E@TNE
BCICXJYUCZZZUNER\\VVQ^_F@]\NU[VC@SZ\NXKCBG
^RV]GJOAC@TWZANQNXHX
AAYSUN_ERO\@VQAVRUJ]\NRACNBZ_TYKJ	QQ C@DF	[UCASAUNX]J]NNXTFVRFL[^ZZUUA	GNK@^Q_O@@QNJQXARQAY[]BN]@MJW\NXTJVRFJO\N[ACNCNNLWX2]ROQI
\@NVGUAYSXW^DO_IEXPVO	TAYI@QEQJW\NXDEJ^K]A@NJNI]AQB HQIZAXJUUCSOAZLWDOB[IVXFVO[YRSI@QERO]WX_QTF@\@Y@UNNINA@B		TXIQ[_VENVUOUMUON_NPSJWNSX_QP[F@OEBZ@[OA^SXLVF[[@VQAQNXHX	N[YAS[@QERO\@_QZC+YTBOJNH\QVANLRWXIB[_V XNMHSWO[Y]QTUNXDBJ^K]F@NHNI]ASB IQIZ@XJ^UCRSQUNER]@@AKVRTVOHSAY[\Q@SEJW]RJ_QPYF@OA\N[[ QV@RVEMQIIEZ^RXARUAY[\]\I@B		WXIQ[EBJHX	C[YAQ[@QERO]PTAEIQ	_RVNOWPWAUN@TKJJQQCVDF	TUCASA@Q]AR1WQOVXDEXF@]\NV[VB\DNLRVXIB[_V [NM@ZZO[X]Y]ZNXDEJ^K]A@NJNI]AQB HQIZAXJUUCSOAZLWDOB[IVXFVO[YRSI@QEROTLIGQGOJ]\NUA	DNK@XI^[NNXTEVRFJC@UN[[YQVSR@SJAN_IVZJI^R@NP[VQ]BLZKJAQQKZ[PXAR	[YSO[[LEXO@@	QNJTX\NX(HSAYNWJW\NXDAJ^JARWAC\_N@_OVRVQ^^F@]\NR[VG\CNLRQXICG
_RV\[[JNKRB BQI[Q	\@NVU[OA NKVB		SXIQZCVDF	 UCRSO[ULEJAN]IVJHX	B[YAAUNZ]JO@@QNJFVOKAYA[@Q		LWDOJIQVDF	TUCAAUNG3@SLJ
B[IDDFB[YSO[Z]XANQNXHX
OAYSUNERY\QVQ^[F@]\NQ[VC@SZTNXJ_QC\XW@@NRININSNLANXN_QPYF@OA\\UUA	NKS_EMQII_VFNVU[OAYSXLKJGQQQXJ_NM[AOA	C@TEDO	
QI[Q	TRVNUUA	KNK@LHKJY3SHQI
\@NVGUAYSX^E
GQQ_V [NMIOAG@TKJ
BIGD[HX
JAYSUNER]@@AJVRTVO	[AYI@QWJWN@VQAVRPVOHAYAH\CN]@PNXKA_IC SXWRN@UONINSNLGY@@QQGNOJNN[[_QVS@B		PXIQIQXW@@NZ[VQN]@TUNXXQGJB7]L]@[NMA]A@TKJ
FICXJXUCSOAULWDO]IDDFF[YRSK@QETJW\NXDFJ^JARZAC\_N@POVRVQ
EEXF@O@N@U[VJZ]@T\NXXBC[_VNVNOSSTUNY]J]NNXTEVRFJO\NVACNCN]@TYNXXCQGIOJN\UUA	ANK@^KJXICGCOJN\UUA	KNK@^DOUT%JE[EVRX
HSAYI@QERJW\NXD@J^JARTAC\_N@^OVRVQ^YF@\@_@U	_QVANLRPXICG
TRV\[[KNKRB		SJQIIQXJNVNOOA]SXLWXO@@]QNQRJ]F@NT[VQ\SNLGZ@@QCIQ	XRVNG[OAXSXLEDO@IQDJHX	E[YAS[@Q		LWDOJIQDJHX	O[YAS[_NHT1QX]Y@@QCUJOJ\@U	YQVANLRVXICG
ZRV\[[ENKRB KQIZKXJ_UCSOAPLWDORIDDFO[YSO[S^]J]NNX
TQNQRVOHAYAH\CN]@PNXCEC[_VGNVUIAOA	G@TWJAN^IVXFVOMAYAIN_NPTJWNRX_QPZF@O@N@UAC\_NP^JWNRX_QPPF@O@N[[ZU<@ZC\E@TNE
BCICXJYUCSOAVLWDO\IDDFA[YSO[_]Y][NXDGJ^JARQAC\_N@QOVRVQ^PF@]\NRS[VQ\SNLANXCE_IC UXWR]\G[OA SXWWXY@@QNJTXARUAY[\Q@SA]OV@JQ_IC PXWR\N[[_QVSRLEHQIIQXJRV\[[UQVSRLEBQIIQ	DFC[/UZGIPAYNWJW\NXDAJ^JARWAC\_N@_OVRVQ^^F@]\NR[VB\GNLRQXICG
_RV\[[JNKRB BQI[Q	\@NVUIAOA	SXWKJBQQBDXFVO	AYZO\C_]@TZNXXCQGLOJN\UUA	FNK@^KJGQQCVDF	_UCASAUN\]J]NNXIDDF	UUCASAUNV]J]NVQJ]nJBXTHOJNH\QVANLRWXICG
YRV\[[DNKRB LQI[QANVFIVOAQLWDOYIDDFN[YSO[V]XANZQNJTXARAYZO@QERO]RJQ_I]XWIZ\GKOA[SXLEDOEIQDJHX	B[YAS[@QERO\@VQ
EGJ^X]R@NQ[VQ\SNLPOVRVQ
EMJ^X]R@N[[VQ\SB^^2UTJCBIV ]\UCSOAWLWDO_IDDF@[YSO[X]XAN QNYTNARPAC\_N@ZOVRVQ^QF@]\N[[VC@SAY]NXXCQGXWIZ@UHNIN@R^KJ	QQEDXUVONAYAIN_NPQJWNRX_QP]F@O@N@UMNINA@B		QXIQ[_VBNVUIAOANKRB		[XIQ[_VHNVUIAO[^,TSX KCQQ_V YNMKSVO[Z]Z]XNXDCJ^JARUAC^CZ]@	G]@@ACZQCNVEIPOAPLUX_@@AJVRTVO	[AYI@QWJWNRX_QHJ^HARRAY[_CN]@PNXB_QP_F@O@N@UONINAL\KJFQQAVDF	XUCAUAUN]]J^ZLBQ_IC VXWR^YUUA	NI^ER^ECQIIQXJTNM[SAUN@3@@TNE
BCICXJYUCPSUUNER^\WVQ^_F@^@T@U	ZQVBRYE
BQQCEDFD[YPSM@QEUJW_RI_QC]XWC]\[[KNKQ^KJBCIQDJHX		UCPOA	@@TUXC^@VQGJ^KARTAY[YQ@SA^OV@KJ]X_VENVUHSAO[VLEYZNNXT@VRFH]R@NQ[VQYSNLPOVRVQ
EMJ^X\R@N[[VQ^_WLHKJ_3[XIIVK]RV\[[FNKP^ KJ
GIAD\HX
NAYSUNER_\TVQ^YF@_@]@U	_QVCR]E
AQQCFDFN[YSO[V]XANZQNJTXARAYQUN_]J_Y@VQGJ^CARTAY[\Q@SA^OV@J]@IQ	XRVNEWVAO[VLE_O@@QNJPJCBN@UKNINCWLE@@@@[_VINVUIAOA	I@TWJ@@KCC4 B@J^O	RSAC\_N@]OVSJF_IVNOJ]\CUA[SX_PDO]IEXRVO	RAYH\B@SZ^NXKC@G
_RV]GKOAH@TKJ
KIJMQHX	FIAYAIN_NPER\\RVQ
EEJ^XU^_XUUA	NKS_KJDQQCZXVXARUAY[\]^I@B		WXIQZECJHX	C[YAVW_GN]@T^NXXJ]X QXJ^NM[[MPMN_N]XANRIVXFVOAAYAOZ][SBU7\NXQ^YTXW@@NLNI\]@	GX@@C_IVMOJ\@U	ZQVANLRSXIA[ _V _NMIOAC@TKJ
JICXJTUCSOA	@RLEXO@@
IFDF	]UCARSIN_NPJW]NXTDVRFJO\NUACNCN]@TXNXXCQGNOJN\UUA	@NK@^KJAQQCVDF NVGUA	JNK@^KJKQQCVHX_/^NMA]A@TKJ
FICXJXUCSOAULWDO]IDDFF[YQSH@QETJW\NXDFJ^H]B@N@NI\]@	GT@@C_IC UJOJN\UUA		QVCNLG]@@QK[_VNVEUA	DNK@^KJEQQCVDF	YUCASAUNZ]J]NNXT@VRFJO\NQACNA\SNLPOVWJ_QPQF@O@N@UANINA@EZ2_@@QCUJOJ\@U	YQVANLRVXICG
ZRV\[[ENKRB KQIYBXJ_UCQSPUNER_\PVQ^QF@]\N[[VC@SAY]NXXCQGXWB@NR[VQZA@B	XI@GMOJN\UUA	ENK@^KJFQQCVDF	XUCASAUN]]J\\@VQ
EFJ^X^@N@UAC^A\]@TTNXXCQGBOJN\UOAQ&XQV
@	G]RXICG
XRV\[[GNKP^KJ
DICXJZUCSOASLUX\@@A@VRVJ^\NQ[VA\CNLR[XICG
URV\[[]CNK@^KJQIYQ	\RVNBIAOA		@TKJDQQCVDF	ZUCASAUN[]J]NNXTGVRFHO\NPACNBYSNLG^@@Q@X_V
OJXTGUA	JNK@^KJKQQCVHX_/YNMA]A@TKJ
FICXJXUCQSWUNER]@@AEVRTVO	RAYK\B@SZ^NXHC@G
_RV^GKOAH@TKJ
KICXJ]\UCASAUNLUDOBIQ@]FVO	AYVUNY]J]NNXTEVRFJO\NVACNCN]@TYNXX@QGIOJN]@[OA^SXLRJANQQ	CDDF	UUCASAUNV]J]NVQA4QNFFIAYSUN ER_\WVQ^\F@_@X@U	[QVANLRTXICG
\RV^GHOAB@TW[ANQNZTHARZAC\_N@POVRVQ
EEXF@O@N@U[VA@SAYOV@NCQGOJZ@UNNINA@B		TXIQ[_VENVUHAOA	E@TSJANXIVZVXARQAY[_@N]@MJW]PJC_IC ]XWR\N[[TQVSRLHKJ_3UXIIVK]RV\[[FNKP^ KJ
GIAD\HX
NAYSUNER]@@ABVRVJ\\NP[VA\BNLRPXIA[_V UNMIOAI@TKJBCIQDJHX		UCQOA	@@TT]O@@]QN_HX	@[YAS[@QERO\@VQ
EAJ^X\^YN[[XQVSWLEIQIIKZ]FVOKAYAJ\Q@SEER\TRJ_QPQF@O@N@UANINA@EQX3[OCC]IJ]G[YSO[[]XANQNXHX
NAYSUNER]@@ABVRVJ^\NP[VC@SZ_NXJ_QC]XW@@NANI\]@T\\@@QCIQ OJUY[[]QVSS^EDO IJAXTLARTAY[\Q@SA^OV@JQ_IC QXWR\N[[XQVSRLEIQIIQXJ^NM[SAO[	SX^ECQIIQXJTNM[SAUNJY.[[WYOVXDEXF@]\NV[VC@SZYNXJ_QCSXW@@NONI\]@	G]@@AC_QCNVGUA^SX^E
JQQ_V TNMIOA]A@TWJANIJADF	]UCARSIN_NPJWUWJCBGMOJN\UUA	ENK@^KJFQQCVDF	XUCASAUN]]J]NNXTAVRFJO\N		AYSUNW]J]NNXTKVRFJO@NNL<ZVI\@NKLRSJQI[QENVGUAXSX^E
DQQ_V ZNMIOA@@TW^ANQNXHX
KAYSUNER]@@AKVRTVOHSAY[\Q@SEJWUWVQ
EEJ^X\@\N[[ QVHW^TDODIQDJHX	A[YAS[@Q ERO\@VQ
E@J^X]R@NP[VQ\SNLG^@@QCIQXW@@NZ[VQ\SNLGT@@QCIL_VY;K^RVU	]CNKRB OQIZFXJXUCRSWUNER\\UVQ^^F@\@Z@U	]QV@R_E
@QQ CGDFE[YRSK@QE^JW\NXDLJ^K]H@NRININA@B	@@B_IC UXWR^YUUA	NKS]EMQII]FJHX	A[YASW[Q@SA]OV@N]FIQ	YRVNFMAOA	B@TTXCYZX_QPZF@OBYN[[[VA\AR^ECQIIQXJTNM[SMSKN@SS1UJW@ABDJ^JARVAC]CY]@	GX@@BC_QGNVFITOATLVX[@@ABVRUJ\\NP[VB\BNLRPXIB[_V UNMIOAI@TWPANZQNJTXARAYRUN_]J_Y@VQGJ^K_\NTACNCB@WLELQII]BJHX	B[YAW[@QERO]PX_QP[F@OC_BEMAOA	C@TU]O@@IBFXTJARZAY[\Q@SAPOV@J]CZXJU%\ANV[B\SX^E
FQQ CADFC[YRSM@QEPJW]RM_QCRXWA\Z[[BNKS^KJ
@IBD[HX
KAYRI^_N@QOVRVQ^PF@]\NRS[VQ\SNLANXK_QPYF@OBYN[[ QV@SB		UXIQ[BVDF	ZUCASMLN_NPRJWNQTFQGNOJN]G[OA_SXLRFTNNXTAVRFHXR@NAYNYC\]@TTNXXCQGBOJN\UOAZL3JYAR\]OZQNXHX
LAYSUNER]@@ADVRTVO	UAYI@QEVJW^RO_QCWXW@@NKNI\]@	GU@@C_IVBOJ\@UH\QVSRLEXIJ^Q	\RVNFISAO[ L^]]\PVQ
ECJ^X]R@NU[VQ\SNLGY@@QCIQ	YRVNG[OA_SXLEDOAIQDJHXNMIOAUSXLEDOKIQDJVOA3]B[YAS^]XANQNYTOARWAC]CX]@	G[@@BC\QFNVFIUOASLVX\@@A@VRUJ^\NQ[VB\CNLR[XICG
URV]GAOA]A@TWJANIBXJ]NM[QVAUN	]YX@@QNJTT^R@NU[VQ]SNLGY@@QEIQ	YRVNFAAOA	B@TU\CZTX_QPZF@OBYN[[[VETAR^ECQIIQXJTNM[SMSMN@SS1SJW@ABDJ^JARVAC]CY]@	GX@@BC_QGNVFITOATLVX[@@ABVRUJ\\NP[VB\BNLRPXIB[_V UNMIOAI@TWPANZQNJTXARAYRUN_]J_Y@VQGJ^KY\NTACNCBCWLELQII]LJHX	B[YAV[@QERO]TX_QP[F@OB[BNKAOA	C@TU]O@@I@LXTJARZAY[\Q@SAPOV@J]CXXJVJ]/^]F[YAS^]XANQNZTOARWAC^CX]@	G[@@JJRQFNVEIUOASLUX\@@A@VRVJ^\NQ[VA\CNLR[XICG
URV\[[]CNK@^KJQIYCXJ]NM[[MV[@Q YER_]SVQ
ECJ^X[GBUB[OAZSXLIZO@@QNJUT\IN@UMNINCLWEDO@IQEXJLTR@NQ[VQT_WLE@@C_IC ]XWR\N[[TQVSRLHKJ_\R%AB[IJ]G[YSO[[]Z]YNXD@J^H]D@NNNIUH[B LQIYEXJ]UCQSRUNER_\QVQ^ZF@_@^@U	UQVANLRZXICGK]RVNG[OA NKP^KJBQQKZ]FVO	AYQH\_NPPJWNTM]J]_VFNVUIMRT[@Q ERO]LJAQGNOJN^YJ[AO[QLEY\BVMQ_IC VXWRTBB[OAQVANLGU@@QCIQ	URVNG[OAM3BNKLRSJQI[QENVGUAXSX^E
DQQ_V ZNMIOA@@TWYANQNXHX
KAYSUNER]@@AKVRTVOHSAY[N_NPERY@@ QNJUJ]R@N[VB@SA_OV@X_QP^F@OR@NV[VQN]@TYNXXQ_IC WXWRN@UKNINSNLPOVRVQ
EMJ^XO\N[ACNQ]@\W7_]WXIIVK]RV\[[FNKP^ KJ
GIAD\HX
NAYQI[_N@^OVPJE_IVKOJ^\FUA_SX\TDOYIFXVVO	ZAYI@QE_JWU[C_QPYTXWR\N[[NI^ARB		SXIQSFVDF	 UCQRVUNY]J]BRNQ_IC RXWR\BDJAOA	D@TVFZT@VQ
E@J^XX^XN[[_QVSU@ EDOAIQLFQXAR	[YSO[[LEXO@@	QNJRMCIYN
UAW<NNISZ\\@@C_IVOOJ\@U	XQVANLRUXICG
[RV\[[BNKV^KJ
@ICXJ^UCSOA[LWDOSIDDF	]G[YAAUNLSDOBIQEXTXAR 	AYN@QERONNXTEVRFXARVAY[N_NPSJWN@VQ
EGJ^XO\NQACNQ@SEER]@@QNJFVOAAYA[_ND=_]OZQNXHX
LAYSUNERX\WVQ^_F@]\NU[VC@SZ\NXOCAG
^RVYGMOAC@T W[ANQNXHX
AAYSUN_ERONNX
TQN]HX	F[YA[IN_NPJW]NXTDVRFXARUAY[N_NPRJWN@VQ
E@J^X]^XN[[_QVSQ@EDOAIQE^FVOUCSOA	H@TEDOKIQVHX[/\NMA]A@TKJ
FICXJXUCUSWUNER]@@AEVRTVO	RAYO\@@SZ^NXLCBG
_RVZGKOAH@TKJ
KICXJ]\UCASAUNLQDOBIQEJHX	[YSO[ULEXO@@QNJTXARVAY[\Q@SA\OV@LJQGIOJN^G[OA^SXLWJANQQ_VINVUIAOA	I@TWJ@@K,B[IJ]G[YSO[[]Y]YNXD@J^K]D@NNNI]AUB LQIZEXJ]UCRSRUNER\\QVQ^ZF@\@^@U	UQVANLRZXICGK]RVNG[OA NKSB		SXIQYQXJ NMHSOA	F@TWF]Y@VQ
EBJ^X]^XN[[YQVSQLENQII	QXJ_NM[P[MLYQ@SAZOV@HFQGF@YH\\[[UQVSRLEBQIIQ	DFH2A^NMA]A@TKJ
FIAD]HX
MAYQIX_N@_OVPJD_IVLOJ^\AUA]SX\VDOXIFXWVO	QAYK\A@SZTNXJ_QC\XWB\T[[]CNK@^KJQIYQ	\RVNELAOA		@TUDODIQDFUOO\NUACNCBG@B		WXIQ__VDNVUHQAO[QLE[^BPNQ_IC VXWR^YUUA	NI]CR^KJJQQCVDF	TUCASMI]Q]@\jV[OVXDEXF@]\NV[VA\DNLRVXIA[_V [NMKSTO[X]Z]ZNXDEJ^H]A@NJNI^AQB HQIYAXJUUCSOAZLUXU@@ CVRFJO\N	AYK@QERO^WX_QTF@\C@NT[VQ\_PLELQII]CJHX	B[YAWWYQ@SA\OV@KGQGIOJN_GWV[AUN\]J_Y@VQAQNZTJ]@@NZ[VQ\SNLGT@@QCEAVHX_/]\UCA@RLWDO^IFXQVO	WAYK\G@SZZNXHCDG
[RV^GOOA@@TWYANQNZTIARQAC^C^]@	GU@@C_IVBOJ\@UH\QVSRLEXIAGKOJN^B[OA SX_KJDQQCZXQXARUAY[\]XSNLGY@@Q@IQ	YRVNO[OA_SXL_FXY@VQ
EFJ^X_EN@UACXK\ANLGU@@QCIQ	URVNG[OAK3B]SX KCQQ_V YNMKSVO[Z]Z]XNXDCJ^H]G@NONI^ATB KQIYBXJ_UCQSPUNER_\PVQ^QF@]\N[[VC@SAY]NXXCQGXWB@NR[VQ^D@B	XIBZQ	ZRVNGWRAO[TLEXCY@VQ
EAJ^X^^YN[[XQVSS^KJ@QQ@AF]XARQAY[^FN]@MJW[WJC_IC ]XWR\N[[TQVSRLHKJ_3SNQI
\@NVGUAYSX\RDO_IFXPVO	TAYK\D@SZ[NXHCEG
\RV^GHOAB@TW[ANQNZTHARZAC\_N@POVPJK_IC UJOJN\UUA		QVCNLG]@@QA^_VNVFMOA[SXLIZXNNXTEVRFJCHN@ULNIND@B		VXIQZQXJ_NM[QTM@^Q@SAZOV@HFQGF@^H\\GUA	JNK@^KJKQQCZXWX\N^(HVAYNWJW\NXDAJ^H]E@NMNI^AVB MQIYDXJZUCQSUUNER_\SVQ^[F@_@_@U	^QVCR\E
JQQ_V TNMKS[O[S^]J]NNX
TQNZHX	F[YAQLN_NPJW]WVQ
ECJ^X]^_N[[ZQVSSLEOQIIQXJXNM[R[AUN]]J_XLLEQGHOJN^B[OAQVGZ^WDOJIQDJHX	O[YASW\GNNLR7TYRJDQQJQA\NMIOAD@TKJ
GICXJ[UCSOATLWDOZIFXVVO	PAYI@QEUJW\NXDMJ^JAR[AC\_NPVXOV@JQ_IE
F@TE@NR[VQ]ARLEQIRCD_HX	@[YAS[@QERO\@VQ
EAJ^X]R@NW[VQ\SNLG_@@QCIQ	_RVNG[OAQVANLGU@@QCIQ	URVNG[OAH\C3@S[]OZQNXHX
LAYRIY_N@\OVSJG_IVMOJ]\@UAZSX_QDOZIEXUVO	PAYH\@@SZ_NXKCAG
TRV\[[KNK[WKJBCIQDJHX		UCRSSUN_]JUBQNQ_I]XWA]Y[[[QVSR@TJAN]IVXJI_R@NV[VQ]_ZLENQIIQXJ_NM[[MWNN_NPUJWNZT@GIQXW@@NZ[VQ\SNLGT@@QE]DV0-@\[IO8>U7.@*?3?